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 811-5251
Fidelity Concord Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Marc Bryant, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | November 30 |
Date of reporting period: | May 31, 2017 |
Item 1.
Reports to Stockholders
Fidelity® Nasdaq Composite Index® Fund Semi-Annual Report May 31, 2017 |
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
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Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2017 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Investment Summary (Unaudited)
Top Ten Stocks as of May 31, 2017
% of fund's net assets | % of fund's net assets 6 months ago | |
Apple, Inc. | 8.4 | 7.3 |
Microsoft Corp. | 5.7 | 5.8 |
Amazon.com, Inc. | 5.0 | 4.4 |
Facebook, Inc. Class A | 3.8 | 3.4 |
Alphabet, Inc. Class C | 3.5 | 3.2 |
Alphabet, Inc. Class A | 3.1 | 2.8 |
Comcast Corp. Class A | 2.1 | 2.1 |
Intel Corp. | 1.8 | 2.0 |
Cisco Systems, Inc. | 1.7 | 1.9 |
Amgen, Inc. | 1.2 | 1.3 |
36.3 |
Top Market Sectors as of May 31, 2017
% of fund's net assets | % of fund's net assets 6 months ago | |
Information Technology | 48.8 | 46.7 |
Consumer Discretionary | 18.8 | 18.9 |
Health Care | 11.8 | 13.1 |
Financials | 6.5 | 7.4 |
Consumer Staples | 4.8 | 5.1 |
Industrials | 4.2 | 4.6 |
Real Estate | 1.0 | 0.8 |
Telecommunication Services | 0.9 | 1.1 |
Energy | 0.5 | 0.6 |
Materials | 0.5 | 0.6 |
Asset Allocation (% of fund's net assets)
As of May 31, 2017 * | ||
Stocks and Equity Futures | 100.0% |
* Foreign investments - 7.6%
As of November 30, 2016 * | ||
Stocks and Equity Futures | 99.9% | |
Short-Term Investments and Net Other Assets (Liabilities) | 0.1% |
* Foreign investments - 7.6%
Investments May 31, 2017 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 97.9% | |||
Shares | Value | ||
CONSUMER DISCRETIONARY - 18.8% | |||
Auto Components - 0.2% | |||
China Automotive Systems, Inc. (a) | 13,333 | $67,998 | |
China XD Plastics Co. Ltd. (a) | 20,593 | 96,787 | |
Clean Diesel Technologies, Inc. (a)(b) | 6,822 | 20,330 | |
Dorman Products, Inc. (a)(b) | 15,561 | 1,297,787 | |
Fox Factory Holding Corp. (a) | 16,603 | 545,409 | |
Gentex Corp. | 128,272 | 2,434,603 | |
Gentherm, Inc. (a) | 17,068 | 643,464 | |
Kandi Technolgies, Inc. (a)(b) | 24,321 | 100,932 | |
Motorcar Parts of America, Inc. (a)(b) | 8,561 | 248,868 | |
Shiloh Industries, Inc. (a) | 7,791 | 91,155 | |
SORL Auto Parts, Inc. (a)(b) | 7,832 | 68,295 | |
Strattec Security Corp. | 1,501 | 53,361 | |
Sypris Solutions, Inc. (a) | 1,434 | 2,108 | |
The Goodyear Tire & Rubber Co. | 113,231 | 3,648,303 | |
VOXX International Corp. (a) | 10,039 | 58,226 | |
Workhorse Group, Inc. (a)(b) | 18,920 | 66,598 | |
9,444,224 | |||
Automobiles - 0.5% | |||
Tesla, Inc. (a)(b) | 67,966 | 23,177,086 | |
Distributors - 0.2% | |||
Core-Mark Holding Co., Inc. (b) | 21,504 | 732,211 | |
Educational Development Corp. (b) | 1,826 | 17,986 | |
Fenix Parts, Inc. (a)(b) | 9,442 | 13,408 | |
LKQ Corp. (a) | 139,217 | 4,383,943 | |
Pool Corp. | 18,562 | 2,211,291 | |
Weyco Group, Inc. | 5,497 | 150,233 | |
7,509,072 | |||
Diversified Consumer Services - 0.1% | |||
American Public Education, Inc. (a) | 7,614 | 167,508 | |
Ascent Capital Group, Inc. (a) | 7,742 | 106,607 | |
ATA, Inc. ADR (a) | 2,232 | 7,924 | |
Cambium Learning Group, Inc. (a) | 24,233 | 120,438 | |
Capella Education Co. | 5,161 | 446,685 | |
Career Education Corp. (a) | 32,711 | 308,792 | |
Collectors Universe, Inc. | 3,905 | 97,820 | |
Grand Canyon Education, Inc. (a) | 21,382 | 1,676,349 | |
Houghton Mifflin Harcourt Co. (a)(b) | 55,867 | 689,957 | |
Laureate Education, Inc. Class A | 17,156 | 286,848 | |
Liberty Tax, Inc. | 6,002 | 84,628 | |
Lincoln Educational Services Corp. (a) | 11,240 | 37,879 | |
National American University Holdings, Inc. | 1,829 | 4,225 | |
Strayer Education, Inc. (b) | 5,136 | 454,279 | |
Tarena International, Inc. ADR (b) | 14,519 | 248,710 | |
4,738,649 | |||
Hotels, Restaurants & Leisure - 2.6% | |||
Amaya, Inc. (a)(b) | 66,884 | 1,160,079 | |
Bagger Daves Burger Tavern, Inc. | 7,360 | 1,259 | |
BJ's Restaurants, Inc. (a) | 9,249 | 414,355 | |
Bloomin' Brands, Inc. | 45,688 | 915,131 | |
Bob Evans Farms, Inc. | 8,686 | 611,581 | |
Bojangles', Inc. (a)(b) | 15,852 | 277,410 | |
Bravo Brio Restaurant Group, Inc. (a)(b) | 8,076 | 37,957 | |
Buffalo Wild Wings, Inc. (a) | 7,335 | 1,054,040 | |
Caesars Acquisition Co. (a)(b) | 63,435 | 1,119,628 | |
Caesars Entertainment Corp. (a)(b) | 67,367 | 737,669 | |
Carrols Restaurant Group, Inc. (a) | 16,735 | 198,310 | |
Century Casinos, Inc. (a) | 13,898 | 108,543 | |
China Lodging Group Ltd. ADR (a) | 14,685 | 1,121,934 | |
Churchill Downs, Inc. | 7,833 | 1,313,202 | |
Chuy's Holdings, Inc. (a)(b) | 8,587 | 230,990 | |
Cracker Barrel Old Country Store, Inc. (b) | 10,751 | 1,793,374 | |
Dave & Buster's Entertainment, Inc. (a)(b) | 18,961 | 1,264,699 | |
Del Frisco's Restaurant Group, Inc. (a) | 11,401 | 193,817 | |
Del Taco Restaurants, Inc. (a)(b) | 16,133 | 206,986 | |
Denny's Corp. (a) | 31,458 | 374,350 | |
Diversified Restaurant Holdings, Inc. (a) | 14,071 | 44,464 | |
Dunkin' Brands Group, Inc. (b) | 41,601 | 2,434,075 | |
El Pollo Loco Holdings, Inc. (a)(b) | 19,337 | 263,950 | |
Eldorado Resorts, Inc. (a)(b) | 33,919 | 703,819 | |
Empire Resorts, Inc. (a)(b) | 13,069 | 319,537 | |
Famous Dave's of America, Inc. (a) | 1,737 | 6,818 | |
Fiesta Restaurant Group, Inc. (a) | 12,371 | 272,781 | |
Fogo de Chao, Inc. (a) | 14,624 | 200,349 | |
Gaming Partners International Corp. | 2,789 | 28,866 | |
GigaMedia Ltd. (a) | 1,007 | 2,971 | |
Golden Entertainment, Inc. | 10,381 | 172,428 | |
Good Times Restaurants, Inc. (a)(b) | 8,038 | 28,133 | |
Habit Restaurants, Inc. Class A (a)(b) | 9,967 | 184,888 | |
Iao Kun Group Holding Co. Ltd. | 14,955 | 10,842 | |
ILG, Inc. | 55,222 | 1,487,681 | |
International Speedway Corp. Class A | 11,620 | 410,186 | |
Jack in the Box, Inc. | 14,276 | 1,521,536 | |
Jamba, Inc. (a)(b) | 12,781 | 90,106 | |
Kona Grill, Inc.(a)(b) | 3,779 | 15,116 | |
Lindblad Expeditions Holdings (a) | 26,743 | 254,593 | |
Marriott International, Inc. Class A | 173,623 | 18,690,516 | |
Melco Crown Entertainment Ltd. sponsored ADR | 77,719 | 1,754,895 | |
Monarch Casino & Resort, Inc. (a) | 7,845 | 236,527 | |
Nathan's Famous, Inc. (a) | 2,069 | 130,140 | |
Noodles & Co. (a)(b) | 20,085 | 97,412 | |
Norwegian Cruise Line Holdings Ltd. (a) | 102,745 | 5,134,168 | |
Panera Bread Co. Class A (a) | 10,173 | 3,199,307 | |
Papa John's International, Inc. (b) | 16,601 | 1,337,543 | |
Papa Murphy's Holdings, Inc. (a)(b) | 5,342 | 25,962 | |
Peak Resorts, Inc. | 8,205 | 37,743 | |
Penn National Gaming, Inc. (a) | 37,592 | 726,653 | |
Pinnacle Entertainment, Inc. (a) | 23,582 | 461,971 | |
Playa Hotels & Resorts NV (a) | 53,232 | 556,807 | |
Potbelly Corp. (a)(b) | 9,518 | 109,457 | |
Rave Restaurant Group, Inc. (a)(b) | 4,931 | 10,552 | |
RCI Hospitality Holdings, Inc. | 4,425 | 92,084 | |
Red Robin Gourmet Burgers, Inc. (a) | 5,663 | 408,161 | |
Red Rock Resorts, Inc. | 19,904 | 470,531 | |
Ruth's Hospitality Group, Inc. | 14,891 | 321,646 | |
Scientific Games Corp. Class A (a)(b) | 38,651 | 896,703 | |
Sonic Corp. (b) | 19,487 | 569,410 | |
Starbucks Corp. | 660,015 | 41,983,554 | |
Texas Roadhouse, Inc. Class A | 31,730 | 1,552,232 | |
The Cheesecake Factory, Inc. (b) | 20,937 | 1,234,864 | |
Town Sports International Holdings, Inc. (a) | 11,510 | 45,465 | |
Tuniu Corp. Class A sponsored ADR (a) | 15,827 | 129,623 | |
Wendy's Co. (b) | 114,174 | 1,846,194 | |
Wingstop, Inc. (b) | 13,218 | 376,845 | |
Wynn Resorts Ltd. (b) | 46,212 | 5,947,484 | |
109,972,902 | |||
Household Durables - 0.2% | |||
AV Homes, Inc. (a)(b) | 10,548 | 165,340 | |
Bassett Furniture Industries, Inc. | 4,646 | 137,986 | |
Cavco Industries, Inc. (a) | 4,103 | 452,356 | |
Dixie Group, Inc. (a) | 3,770 | 16,023 | |
Flexsteel Industries, Inc. | 3,693 | 187,050 | |
Garmin Ltd. (b) | 85,249 | 4,436,358 | |
GoPro, Inc. Class A (a)(b) | 47,479 | 390,277 | |
Green Brick Partners, Inc. (a)(b) | 25,078 | 248,272 | |
Helen of Troy Ltd. (a) | 12,193 | 1,109,563 | |
Hooker Furniture Corp. | 5,310 | 227,799 | |
iRobot Corp. (a)(b) | 12,397 | 1,149,450 | |
LGI Homes, Inc. (a)(b) | 9,315 | 301,806 | |
Lifetime Brands, Inc. | 6,790 | 124,936 | |
Live Ventures, Inc. (a) | 1,151 | 11,614 | |
Nova LifeStyle, Inc. (a)(b) | 8,342 | 11,262 | |
SGOCO Technology Ltd. (a) | 250 | 331 | |
SodaStream International Ltd. (a)(b) | 9,376 | 496,740 | |
Stanley Furniture Co., Inc. | 825 | 957 | |
Turtle Beach Corp. (a)(b) | 21,513 | 16,533 | |
Universal Electronics, Inc. (a) | 6,701 | 432,885 | |
Vuzix Corp. (a)(b) | 9,564 | 54,993 | |
Zagg, Inc. (a) | 13,152 | 109,819 | |
10,082,350 | |||
Internet & Direct Marketing Retail - 7.9% | |||
1-800-FLOWERS.com, Inc. Class A (a) | 21,065 | 210,650 | |
Amazon.com, Inc. (a) | 216,372 | 215,207,919 | |
CafePress, Inc. (a) | 7,596 | 19,370 | |
Cnova NV (a) | 182,614 | 1,004,377 | |
Ctrip.com International Ltd. ADR (a)(b) | 190,457 | 10,408,475 | |
Duluth Holdings, Inc. (a)(b) | 12,742 | 248,724 | |
Etsy, Inc. (a)(b) | 52,895 | 709,322 | |
EVINE Live, Inc. (a) | 37,983 | 47,859 | |
Expedia, Inc. | 62,203 | 8,943,547 | |
FTD Companies, Inc. (a) | 13,270 | 229,836 | |
Gaia, Inc. Class A (a) | 4,419 | 48,167 | |
Groupon, Inc. (a)(b) | 256,369 | 771,671 | |
HSN, Inc. | 23,665 | 784,495 | |
JD.com, Inc. sponsored ADR (a) | 416,106 | 16,656,723 | |
Lands' End, Inc. (a)(b) | 14,667 | 258,139 | |
Liberty Expedia Holdings, Inc. | 27,394 | 1,429,145 | |
Liberty Interactive Corp.: | |||
(Venture Group) Series A (a) | 38,535 | 2,076,651 | |
QVC Group Series A (a)(b) | 194,599 | 4,565,293 | |
Liberty TripAdvisor Holdings, Inc. (a) | 34,506 | 408,896 | |
MakeMyTrip Ltd. (a)(b) | 23,874 | 763,968 | |
Netflix, Inc. (a)(b) | 195,104 | 31,815,609 | |
NutriSystem, Inc. | 13,540 | 704,757 | |
Overstock.com, Inc. (a)(b) | 11,702 | 164,413 | |
PetMed Express, Inc. (b) | 9,333 | 327,495 | |
Priceline Group, Inc. (a) | 22,277 | 41,815,934 | |
Shutterfly, Inc. (a) | 14,949 | 739,826 | |
TripAdvisor, Inc. (a)(b) | 59,815 | 2,303,476 | |
Trivago NV ADR (b) | 13,791 | 259,547 | |
U.S. Auto Parts Network, Inc. (a) | 15,907 | 48,675 | |
342,972,959 | |||
Leisure Products - 0.3% | |||
American Outdoor Brands Corp. (a)(b) | 25,440 | 576,216 | |
Black Diamond, Inc. (a)(b) | 14,880 | 88,536 | |
Escalade, Inc. | 6,771 | 81,252 | |
Hasbro, Inc. (b) | 56,277 | 5,923,717 | |
JAKKS Pacific, Inc. (a)(b) | 11,010 | 46,242 | |
Johnson Outdoors, Inc. Class A | 3,990 | 171,331 | |
Malibu Boats, Inc. Class A (a) | 8,787 | 213,085 | |
Mattel, Inc. | 154,986 | 3,550,729 | |
MCBC Holdings, Inc. (a) | 10,148 | 195,146 | |
Summer Infant, Inc.(a) | 1,750 | 3,150 | |
10,849,404 | |||
Media - 5.2% | |||
AirMedia Group, Inc. ADR (a)(b) | 20,876 | 35,280 | |
AMC Networks, Inc. Class A (a)(b) | 26,788 | 1,419,228 | |
Beasley Broadcast Group, Inc. Class A | 6,549 | 59,923 | |
Central European Media Enterprises Ltd. Class A (a)(b) | 64,971 | 253,387 | |
Charter Communications, Inc. Class A (a) | 121,869 | 42,111,833 | |
Cinedigm Corp. (a)(b) | 1,960 | 3,371 | |
Comcast Corp. Class A | 2,145,306 | 89,437,807 | |
Cumulus Media, Inc. Class A (a) | 7,572 | 4,308 | |
Daily Journal Corp. (a)(b) | 800 | 168,240 | |
Discovery Communications, Inc.: | |||
Class A (a)(b) | 67,034 | 1,776,401 | |
Class B (a) | 715 | 18,840 | |
Class C (non-vtg.) (a)(b) | 105,767 | 2,731,962 | |
DISH Network Corp. Class A (a) | 102,868 | 6,559,892 | |
Emmis Communications Corp. Class A (a) | 7,203 | 23,482 | |
Global Eagle Entertainment, Inc. (a)(b) | 34,932 | 107,940 | |
Hemisphere Media Group, Inc. (a)(b) | 15,780 | 177,525 | |
Insignia Systems, Inc. | 738 | 760 | |
Liberty Broadband Corp.: | |||
Class A (a)(b) | 11,797 | 1,041,085 | |
Class C (a) | 69,474 | 6,194,997 | |
Liberty Global PLC: | |||
Class A (a)(b) | 116,327 | 3,557,280 | |
Class B (a) | 247 | 7,558 | |
Class C (a) | 287,458 | 8,543,252 | |
LiLAC Class A (a)(b) | 31,004 | 654,494 | |
LiLAC Class C (a)(b) | 46,840 | 981,766 | |
Liberty Media Corp.: | |||
Liberty Braves Class A (a) | 7,254 | 172,065 | |
Liberty Braves Class C (a) | 15,077 | 351,596 | |
Liberty Media Class A (a)(b) | 14,749 | 470,493 | |
Liberty Media Class C (a)(b) | 22,205 | 739,427 | |
Liberty SiriusXM Class A (a) | 52,314 | 2,179,924 | |
Liberty SiriusXM Class C (a) | 100,079 | 4,170,292 | |
Loral Space & Communications Ltd. (a) | 13,553 | 535,344 | |
MDC Partners, Inc. Class A | 25,894 | 214,920 | |
National CineMedia, Inc. | 29,533 | 214,705 | |
News Corp.: | |||
Class A | 174,211 | 2,330,943 | |
Class B | 89,306 | 1,223,492 | |
Nexstar Broadcasting Group, Inc. Class A (b) | 20,945 | 1,198,054 | |
Reading International, Inc. Class A (a) | 11,781 | 188,025 | |
Salem Communications Corp. Class A | 10,029 | 68,699 | |
Scholastic Corp. | 15,677 | 666,743 | |
Scripps Networks Interactive, Inc. Class A (b) | 42,857 | 2,837,991 | |
Sinclair Broadcast Group, Inc. Class A (b) | 34,411 | 1,114,916 | |
Sirius XM Holdings, Inc. (b) | 2,135,891 | 11,213,428 | |
tronc, Inc. (a) | 15,337 | 172,081 | |
Twenty-First Century Fox, Inc.: | |||
Class A | 478,764 | 12,984,080 | |
Class B | 360,144 | 9,687,874 | |
Urban One, Inc. Class D (non-vtg.) (a) | 18,618 | 37,236 | |
Viacom, Inc.: | |||
Class A (b) | 23,531 | 903,590 | |
Class B (non-vtg.) | 156,265 | 5,436,459 | |
Videocon d2h Ltd. sponsored ADR (a) | 21,480 | 219,955 | |
VisionChina Media, Inc. ADR (a) | 1,079 | 2,449 | |
Wecast Network, Inc. (a)(b) | 29,569 | 78,062 | |
WPP PLC ADR (b) | 6,824 | 769,270 | |
226,052,724 | |||
Multiline Retail - 0.2% | |||
Dollar Tree, Inc. (a) | 106,828 | 8,300,536 | |
Fred's, Inc. Class A (b) | 17,232 | 237,112 | |
Ollie's Bargain Outlet Holdings, Inc. (a)(b) | 27,852 | 1,146,110 | |
Sears Canada, Inc. (a)(b) | 29,750 | 28,410 | |
Sears Holdings Corp. (a)(b) | 48,771 | 360,418 | |
The Bon-Ton Stores, Inc. (a)(b) | 5,468 | 2,679 | |
Tuesday Morning Corp. (a)(b) | 14,954 | 25,422 | |
10,100,687 | |||
Specialty Retail - 1.2% | |||
America's Car Mart, Inc. (a)(b) | 3,745 | 135,382 | |
Ascena Retail Group, Inc. (a)(b) | 83,258 | 147,367 | |
bebe stores, Inc. (a)(b) | 5,582 | 29,975 | |
Bed Bath & Beyond, Inc. (b) | 66,635 | 2,292,910 | |
Big 5 Sporting Goods Corp. (b) | 10,410 | 144,699 | |
Citi Trends, Inc. | 7,084 | 129,283 | |
Conn's, Inc. (a)(b) | 13,906 | 237,793 | |
DavidsTea, Inc. (a)(b) | 13,680 | 84,132 | |
Destination Maternity Corp. (a) | 6,011 | 26,148 | |
Destination XL Group, Inc. (a)(b) | 28,678 | 68,827 | |
Finish Line, Inc. Class A | 20,105 | 283,682 | |
Five Below, Inc. (a)(b) | 24,999 | 1,282,449 | |
Francesca's Holdings Corp. (a) | 15,011 | 190,039 | |
Hibbett Sports, Inc. (a)(b) | 11,383 | 264,086 | |
Kirkland's, Inc. (a) | 8,678 | 78,536 | |
Michaels Companies, Inc. (a) | 85,396 | 1,650,705 | |
Monro Muffler Brake, Inc. (b) | 15,072 | 747,571 | |
O'Reilly Automotive, Inc. (a)(b) | 41,492 | 10,044,383 | |
Office Depot, Inc. | 251,308 | 1,284,184 | |
Perfumania Holdings, Inc. (a) | 1,858 | 2,731 | |
Rent-A-Center, Inc. (b) | 23,631 | 269,630 | |
Ross Stores, Inc. | 178,570 | 11,414,194 | |
Sears Hometown & Outlet Stores, Inc. (a)(b) | 12,081 | 36,847 | |
Select Comfort Corp. (a)(b) | 18,727 | 539,338 | |
Shagrir Group Vehicle Services Ltd. | 902 | 4,254 | |
Shoe Carnival, Inc. | 7,474 | 152,843 | |
Sportsman's Warehouse Holdings, Inc. (a)(b) | 20,413 | 119,008 | |
Staples, Inc. | 296,678 | 2,693,836 | |
Stein Mart, Inc. (b) | 15,416 | 22,507 | |
Tandy Leather Factory, Inc. (a) | 5,773 | 49,071 | |
The Children's Place Retail Stores, Inc. (b) | 8,488 | 918,402 | |
Tile Shop Holdings, Inc. (b) | 23,711 | 465,921 | |
Tractor Supply Co. (b) | 59,132 | 3,261,130 | |
Trans World Entertainment Corp. (a) | 6,821 | 11,596 | |
TravelCenters of America LLC (a) | 16,708 | 68,503 | |
Ulta Beauty, Inc. (a) | 28,133 | 8,576,064 | |
Urban Outfitters, Inc. (a)(b) | 52,920 | 998,600 | |
West Marine, Inc. | 13,095 | 128,724 | |
Winmark Corp. | 2,149 | 263,253 | |
Zumiez, Inc. (a)(b) | 11,357 | 161,837 | |
49,280,440 | |||
Textiles, Apparel & Luxury Goods - 0.2% | |||
Charles & Colvard Ltd. (a) | 4,097 | 3,605 | |
Cherokee, Inc. (a) | 5,099 | 42,067 | |
Columbia Sportswear Co. | 32,274 | 1,751,833 | |
Crocs, Inc. (a) | 36,619 | 250,108 | |
Crown Crafts, Inc. | 6,819 | 51,483 | |
Differential Brands Group, Inc. (a) | 3,423 | 6,333 | |
Fossil Group, Inc. (a)(b) | 21,993 | 236,865 | |
G-III Apparel Group Ltd. (a)(b) | 21,591 | 422,536 | |
Iconix Brand Group, Inc. (a)(b) | 29,289 | 175,441 | |
Kingold Jewelry, Inc. (a)(b) | 26,949 | 47,161 | |
Lakeland Industries, Inc. (a) | 4,094 | 47,081 | |
lululemon athletica, Inc. (a)(b) | 57,354 | 2,768,478 | |
Perry Ellis International, Inc. (a) | 7,163 | 131,369 | |
Rocky Brands, Inc. | 4,822 | 68,714 | |
Sequential Brands Group, Inc. (a)(b) | 29,466 | 94,586 | |
Steven Madden Ltd. (a) | 27,034 | 1,061,085 | |
Superior Uniform Group, Inc. | 7,064 | 136,335 | |
Vera Bradley, Inc. (a)(b) | 18,019 | 169,559 | |
7,464,639 | |||
TOTAL CONSUMER DISCRETIONARY | 811,645,136 | ||
CONSUMER STAPLES - 4.8% | |||
Beverages - 0.4% | |||
Coca-Cola Bottling Co. Consolidated (b) | 3,260 | 742,432 | |
Craft Brew Alliance, Inc. (a)(b) | 9,106 | 152,070 | |
MGP Ingredients, Inc. (b) | 7,508 | 384,485 | |
Monster Beverage Corp. (a) | 259,156 | 13,102,927 | |
National Beverage Corp. (b) | 21,148 | 2,029,151 | |
New Age Beverages Corp. (b) | 14,671 | 84,212 | |
Primo Water Corp. (a) | 18,495 | 227,304 | |
16,722,581 | |||
Food & Staples Retailing - 2.1% | |||
Andersons, Inc. | 12,691 | 445,454 | |
Casey's General Stores, Inc. (b) | 17,962 | 2,090,597 | |
Chefs' Warehouse Holdings (a)(b) | 11,183 | 169,422 | |
China Jo-Jo Drugstores, Inc. (a) | 8,777 | 15,184 | |
Costco Wholesale Corp. | 198,835 | 35,875,799 | |
G Willi-Food International Ltd. | 4,242 | 27,658 | |
Ingles Markets, Inc. Class A | 6,034 | 220,844 | |
PriceSmart, Inc. (b) | 14,193 | 1,252,532 | |
SpartanNash Co. | 18,179 | 541,734 | |
Sprouts Farmers Market LLC (a)(b) | 67,725 | 1,622,691 | |
United Natural Foods, Inc. (a)(b) | 23,087 | 922,095 | |
Village Super Market, Inc. Class A | 5,834 | 145,150 | |
Walgreens Boots Alliance, Inc. | 489,057 | 39,623,398 | |
Whole Foods Market, Inc. | 144,291 | 5,048,742 | |
88,001,300 | |||
Food Products - 2.3% | |||
Alico, Inc. (b) | 4,470 | 133,877 | |
Blue Buffalo Pet Products, Inc. (a)(b) | 89,138 | 2,093,852 | |
Bridgford Foods Corp. (a) | 433 | 6,036 | |
Cal-Maine Foods, Inc. (b) | 20,279 | 754,379 | |
Calavo Growers, Inc. (b) | 7,898 | 534,695 | |
Farmer Brothers Co. (a)(b) | 8,092 | 242,760 | |
Freshpet, Inc. (a)(b) | 16,233 | 246,742 | |
Hostess Brands, Inc. Class A (a)(b) | 44,106 | 694,228 | |
Inventure Foods, Inc. (a)(b) | 6,705 | 28,496 | |
J&J Snack Foods Corp. (b) | 8,414 | 1,094,661 | |
John B. Sanfilippo & Son, Inc. (b) | 4,307 | 278,964 | |
Lancaster Colony Corp. | 12,339 | 1,527,938 | |
Landec Corp. (a) | 16,245 | 227,430 | |
Lifeway Foods, Inc. (a) | 9,366 | 91,974 | |
Limoneira Co. (b) | 6,162 | 113,566 | |
Mondelez International, Inc. | 691,891 | 32,235,202 | |
Origin Agritech Ltd. (a)(b) | 10,619 | 16,035 | |
Pilgrim's Pride Corp. (b) | 112,574 | 2,619,597 | |
Pingtan Marine Enterprise Ltd. (b) | 37,129 | 112,872 | |
S&W Seed Co. (a)(b) | 13,485 | 54,614 | |
Sanderson Farms, Inc. (b) | 10,141 | 1,203,737 | |
Seneca Foods Corp. Class A (a) | 5,202 | 160,222 | |
SkyPeople Fruit Juice, Inc. (a)(b) | 213 | 573 | |
Snyders-Lance, Inc. (b) | 43,412 | 1,595,391 | |
SunOpta, Inc. (a)(b) | 43,219 | 401,937 | |
The Hain Celestial Group, Inc. (a) | 46,847 | 1,636,366 | |
The Kraft Heinz Co. | 552,015 | 50,895,783 | |
99,001,927 | |||
Household Products - 0.0% | |||
Central Garden & Pet Co. (a)(b) | 2,568 | 76,835 | |
Central Garden & Pet Co. Class A (non-vtg.) (a) | 20,678 | 597,801 | |
WD-40 Co. (b) | 6,602 | 697,831 | |
1,372,467 | |||
Personal Products - 0.0% | |||
Inter Parfums, Inc. | 14,423 | 501,920 | |
LifeVantage Corp. (a)(b) | 4,117 | 16,427 | |
Mannatech, Inc. | 1,439 | 21,009 | |
Natural Alternatives International, Inc. (a) | 3,874 | 41,839 | |
Natural Health Trends Corp. (b) | 5,170 | 144,036 | |
Nature's Sunshine Products, Inc. | 9,832 | 124,375 | |
Neptune Technologies & Bioressources, Inc. (a)(b) | 39,978 | 44,392 | |
Nutraceutical International Corp. | 4,884 | 203,907 | |
Reliv International, Inc. (a) | 131 | 1,027 | |
The Female Health Co. (a) | 6,933 | 8,112 | |
United-Guardian, Inc. | 2,237 | 34,674 | |
1,141,718 | |||
TOTAL CONSUMER STAPLES | 206,239,993 | ||
ENERGY - 0.5% | |||
Energy Equipment & Services - 0.1% | |||
Archrock Partners LP | 29,115 | 450,991 | |
CSI Compressco LP | 12,448 | 68,464 | |
Dawson Geophysical Co. (a)(b) | 7,613 | 29,310 | |
ENGlobal Corp. (a) | 12,532 | 15,164 | |
Geospace Technologies Corp. (a)(b) | 5,591 | 83,809 | |
Gulf Island Fabrication, Inc. | 9,354 | 86,525 | |
Mammoth Energy Services, Inc. (b) | 18,016 | 327,351 | |
Matrix Service Co. (a) | 12,700 | 103,505 | |
Mitcham Industries, Inc. (a) | 6,441 | 25,571 | |
Ocean Rig UDW, Inc. (United States) (a) | 54,499 | 10,900 | |
Patterson-UTI Energy, Inc. | 94,598 | 2,016,829 | |
PHI, Inc. (non-vtg.) (a) | 6,839 | 60,867 | |
Profire Energy, Inc. (a)(b) | 22,102 | 32,048 | |
RigNet, Inc. (a)(b) | 7,072 | 118,456 | |
SAExploration Holdings, Inc. (b) | 7,848 | 25,349 | |
SAExploration Holdings, Inc.: | |||
warrants 7/27/21 (c) | 30 | 8 | |
warrants 7/27/21 (c) | 30 | 11 | |
Synthesis Energy Systems, Inc. (a)(b) | 62,220 | 44,456 | |
Tesco Corp. (a) | 24,826 | 115,441 | |
3,615,055 | |||
Oil, Gas & Consumable Fuels - 0.4% | |||
Abraxas Petroleum Corp. (a) | 86,772 | 159,660 | |
Aemetis, Inc. (a)(b) | 5,390 | 8,732 | |
Alliance Holdings GP, LP | 27,377 | 775,043 | |
Alliance Resource Partners LP | 33,786 | 726,399 | |
Amplify Energy Corp. (a) | 165 | 2,285 | |
Amplify Energy Corp. warrants 5/4/22 | 717 | 0 | |
Amyris, Inc. (a)(b) | 119,777 | 31,022 | |
Approach Resources, Inc. (a)(b) | 47,137 | 119,728 | |
Blueknight Energy Partners LP | 20,466 | 142,239 | |
Calumet Specialty Products Partners LP (a) | 38,959 | 151,940 | |
Capital Product Partners LP | 60,661 | 202,001 | |
Carrizo Oil & Gas, Inc. (a)(b) | 29,344 | 643,807 | |
Centennial Resource Development, Inc. Class A (b) | 94,162 | 1,467,986 | |
Clean Energy Fuels Corp. (a)(b) | 69,755 | 163,227 | |
Diamondback Energy, Inc. (a) | 40,525 | 3,759,099 | |
Dorchester Minerals LP | 14,797 | 241,931 | |
Energy XXI Gulf Coast, Inc. (a) | 15,404 | 400,966 | |
EV Energy Partners LP (a) | 19,111 | 19,684 | |
Extraction Oil & Gas, Inc. (b) | 76,884 | 1,094,828 | |
Gevo, Inc. (a)(b) | 2,306 | 1,635 | |
Golar LNG Ltd. (b) | 41,832 | 973,221 | |
Golar LNG Partners LP | 19,818 | 391,604 | |
Green Plains Partners LP | 7,983 | 148,883 | |
Green Plains, Inc. | 17,381 | 371,084 | |
Gulfport Energy Corp. (a) | 82,732 | 1,187,204 | |
Hallador Energy Co. | 17,391 | 127,824 | |
Hongli Clean Energy Technologies Corp. (a)(b) | 448 | 2,074 | |
Isramco, Inc. (a)(b) | 1,150 | 122,763 | |
Legacy Reserves LP (a) | 37,976 | 76,712 | |
Lonestar Resources U.S., Inc. (a)(b) | 8,876 | 39,409 | |
Marine Petroleum Trust | 339 | 1,312 | |
Martin Midstream Partners LP | 17,162 | 312,348 | |
Mid-Con Energy Partners LP (a) | 14,219 | 26,447 | |
Pacific Ethanol, Inc. (a) | 18,137 | 107,008 | |
PDC Energy, Inc. (a) | 29,048 | 1,442,524 | |
Penn Virginia Corp. (a) | 7,324 | 313,467 | |
PennTex Midstream Partners LP | 10,430 | 207,870 | |
PrimeEnergy Corp. (a) | 333 | 14,585 | |
Ramaco Resources, Inc. (b) | 18,905 | 118,723 | |
Renewable Energy Group, Inc. (a)(b) | 21,390 | 241,707 | |
Rex Energy Corp. (a) | 4,959 | 14,431 | |
StealthGas, Inc. (a) | 17,223 | 56,664 | |
Tellurian, Inc. (a)(b) | 91,157 | 1,001,815 | |
Torchlight Energy Resources, Inc. (a)(b) | 26,806 | 36,992 | |
TransGlobe Energy Corp. (a)(b) | 31,199 | 45,268 | |
U.S. Energy Corp. (a) | 529 | 402 | |
Ultra Petroleum Corp. (a) | 88,318 | 995,344 | |
Uranium Resources, Inc. (a)(b) | 11,627 | 18,138 | |
Vertex Energy, Inc. (a)(b) | 16,128 | 16,128 | |
Viper Energy Partners LP | 44,321 | 754,343 | |
Westmoreland Coal Co. (a) | 10,580 | 69,511 | |
Zion Oil & Gas, Inc. (a) | 18,712 | 25,823 | |
19,373,840 | |||
TOTAL ENERGY | 22,988,895 | ||
FINANCIALS - 6.5% | |||
Banks - 3.1% | |||
1st Constitution Bancorp | 4,489 | 77,660 | |
1st Source Corp. | 11,812 | 538,037 | |
Access National Corp. (b) | 9,903 | 277,185 | |
ACNB Corp. | 3,366 | 95,090 | |
Allegiance Bancshares, Inc. (a) | 5,819 | 225,486 | |
American National Bankshares, Inc. | 4,129 | 143,896 | |
American River Bankshares | 3,241 | 44,823 | |
Ameris Bancorp | 15,252 | 661,174 | |
Ames National Corp. (b) | 5,374 | 159,339 | |
Anchor Bancorp (a) | 1,825 | 45,625 | |
Arrow Financial Corp. | 7,628 | 241,426 | |
Atlantic Capital Bancshares, Inc. (a) | 12,229 | 226,848 | |
BancFirst Corp. | 7,204 | 680,418 | |
Bancorp, Inc., Delaware (a) | 24,909 | 152,443 | |
Bank of Commerce Holdings | 7,378 | 80,051 | |
Bank of Marin Bancorp | 3,110 | 186,445 | |
Bank of the Ozarks, Inc. (b) | 54,274 | 2,398,911 | |
Bankwell Financial Group, Inc. | 3,662 | 113,632 | |
Banner Corp. | 15,905 | 853,939 | |
BCB Bancorp, Inc. | 6,086 | 95,550 | |
Blue Hills Bancorp, Inc. | 15,385 | 276,930 | |
BNC Bancorp (b) | 22,958 | 724,325 | |
BOK Financial Corp. (b) | 29,854 | 2,404,143 | |
Boston Private Financial Holdings, Inc. | 39,793 | 576,999 | |
Bridge Bancorp, Inc. | 11,062 | 367,812 | |
Brookline Bancorp, Inc., Delaware | 34,529 | 476,500 | |
Bryn Mawr Bank Corp. (b) | 7,262 | 296,653 | |
C & F Financial Corp. | 2,114�� | 101,789 | |
California First National Bancorp | 3,963 | 67,965 | |
Camden National Corp. | 7,154 | 287,591 | |
Capital Bank Financial Corp. Series A | 15,433 | 572,564 | |
Capital City Bank Group, Inc. | 7,950 | 149,142 | |
Capstar Financial Holdings, Inc. | 6,241 | 112,213 | |
Carolina Financial Corp. | 8,494 | 254,310 | |
Cathay General Bancorp (b) | 33,877 | 1,202,634 | |
Centerstate Banks of Florida, Inc. | 21,923 | 527,029 | |
Central Valley Community Bancorp | 5,892 | 123,025 | |
Centrue Financial Corp. (a) | 3,532 | 94,481 | |
Century Bancorp, Inc. Class A (non-vtg.) | 2,118 | 126,551 | |
Chemical Financial Corp. (b) | 31,714 | 1,426,179 | |
Chemung Financial Corp. | 2,630 | 98,835 | |
Citizens & Northern Corp. | 6,555 | 146,111 | |
Citizens Holding Co. | 1,328 | 31,540 | |
City Holding Co. | 6,951 | 438,539 | |
Civista Bancshares, Inc. | 5,014 | 98,776 | |
CNB Financial Corp., Pennsylvania | 7,710 | 161,679 | |
CoBiz, Inc. | 22,820 | 359,187 | |
Codorus Valley Bancorp, Inc. | 3,966 | 102,323 | |
Colony Bankcorp, Inc. | 3,020 | 40,770 | |
Columbia Banking Systems, Inc. (b) | 25,988 | 954,019 | |
Commerce Bancshares, Inc. | 45,492 | 2,435,187 | |
Commerce Union Bancshares, Inc. (b) | 3,740 | 80,410 | |
Community Bank System, Inc. | 1,917 | 103,058 | |
Community Bankers Trust Corp. (a) | 15,166 | 124,361 | |
Community Trust Bancorp, Inc. | 8,447 | 350,551 | |
ConnectOne Bancorp, Inc. (b) | 12,993 | 283,247 | |
County Bancorp, Inc. | 3,768 | 93,296 | |
CU Bancorp (a) | 7,891 | 284,076 | |
CVB Financial Corp. (b) | 48,304 | 980,571 | |
DNB Financial Corp. | 2,276 | 72,377 | |
Eagle Bancorp Montana, Inc. | 2,037 | 37,685 | |
Eagle Bancorp, Inc. (a) | 15,558 | 887,584 | |
East West Bancorp, Inc. | 64,153 | 3,511,094 | |
Eastern Virginia Bankshares, Inc. | 6,836 | 74,239 | |
Enterprise Bancorp, Inc. | 5,466 | 163,980 | |
Enterprise Financial Services Corp. | 9,702 | 389,050 | |
Equity Bancshares, Inc. (a) | 4,963 | 147,600 | |
Farmers Capital Bank Corp. | 3,705 | 141,531 | |
Farmers National Banc Corp. | 12,776 | 173,115 | |
Fidelity Southern Corp. | 11,274 | 241,151 | |
Fifth Third Bancorp | 337,335 | 8,008,333 | |
Financial Institutions, Inc. | 8,552 | 262,119 | |
First Bancorp, North Carolina | 11,251 | 312,328 | |
First Bancshares, Inc. | 5,377 | 150,287 | |
First Bank Hamilton New Jersey | 4,892 | 56,992 | |
First Busey Corp. | 19,745 | 560,561 | |
First Business Finance Services, Inc. | 5,179 | 118,340 | |
First Citizen Bancshares, Inc. | 5,011 | 1,660,645 | |
First Community Bancshares, Inc. | 7,824 | 199,512 | |
First Community Corp. | 820 | 17,712 | |
First Community Financial Partners, Inc. (a) | 9,860 | 123,250 | |
First Connecticut Bancorp, Inc. | 7,295 | 182,740 | |
First Financial Bancorp, Ohio | 28,332 | 709,717 | |
First Financial Bankshares, Inc. (b) | 30,595 | 1,170,259 | |
First Financial Corp., Indiana | 6,343 | 288,924 | |
First Financial Northwest, Inc. | 5,694 | 91,218 | |
First Foundation, Inc. (a) | 14,511 | 222,454 | |
First Hawaiian, Inc. | 63,989 | 1,763,537 | |
First Internet Bancorp | 3,646 | 94,067 | |
First Interstate Bancsystem, Inc. | 16,302 | 568,940 | |
First Merchants Corp. | 18,226 | 723,390 | |
First Mid-Illinois Bancshares, Inc. | 6,319 | 209,159 | |
First Midwest Bancorp, Inc., Delaware | 45,170 | 1,000,967 | |
First Northwest Bancorp (a) | 7,634 | 124,587 | |
First of Long Island Corp. | 11,032 | 299,519 | |
First South Bancorp, Inc., Virginia | 5,689 | 80,841 | |
First United Corp. (a) | 2,180 | 32,700 | |
Flushing Financial Corp. | 17,393 | 483,178 | |
Fulton Financial Corp. (b) | 73,548 | 1,287,090 | |
German American Bancorp, Inc. (b) | 11,445 | 355,367 | |
Glacier Bancorp, Inc. (b) | 34,797 | 1,122,551 | |
Great Southern Bancorp, Inc. | 7,846 | 384,062 | |
Green Bancorp, Inc. (a) | 16,697 | 318,078 | |
Grupo Financiero Galicia SA sponsored ADR (b) | 22,107 | 985,088 | |
Guaranty Bancorp | 12,855 | 324,589 | |
Hancock Holding Co. | 37,171 | 1,717,300 | |
Hanmi Financial Corp. | 14,806 | 393,840 | |
HarborOne Bancorp, Inc. (b) | 16,556 | 324,829 | |
Hawthorn Bancshares, Inc. | 705 | 14,382 | |
Heartland Financial U.S.A., Inc. | 12,293 | 551,341 | |
Heritage Commerce Corp. | 20,216 | 272,107 | |
Heritage Financial Corp., Washington | 14,587 | 347,900 | |
Home Bancshares, Inc. (b) | 64,004 | 1,498,334 | |
HomeTrust Bancshares, Inc. (a) | 8,698 | 215,276 | |
Hope Bancorp, Inc. | 60,311 | 1,050,015 | |
Horizon Bancorp Industries | 10,494 | 266,967 | |
Howard Bancorp, Inc. (a) | 5,597 | 105,783 | |
Huntington Bancshares, Inc. | 485,947 | 6,093,775 | |
IBERIABANK Corp. | 23,110 | 1,784,092 | |
Independent Bank Corp. | 10,081 | 205,148 | |
Independent Bank Corp., Massachusetts (b) | 11,971 | 723,647 | |
Independent Bank Group, Inc. (b) | 12,974 | 727,841 | |
International Bancshares Corp. | 30,819 | 1,021,650 | |
Investar Holding Corp. | 4,761 | 103,790 | |
Investors Bancorp, Inc. (b) | 136,372 | 1,804,202 | |
Lakeland Bancorp, Inc. | 21,106 | 395,738 | |
Lakeland Financial Corp. | 11,250 | 477,338 | |
Landmark Bancorp, Inc. | 1,447 | 44,134 | |
LCNB Corp. | 5,803 | 113,449 | |
LegacyTexas Financial Group, Inc. | 20,571 | 724,511 | |
Live Oak Bancshares, Inc. (b) | 13,666 | 334,134 | |
Macatawa Bank Corp. | 20,922 | 193,319 | |
MainSource Financial Group, Inc. | 10,681 | 345,851 | |
MB Financial, Inc. | 36,646 | 1,509,082 | |
MBT Financial Corp. | 12,972 | 131,666 | |
Mercantile Bank Corp. | 7,756 | 240,979 | |
Midland States Bancorp, Inc. (b) | 6,885 | 240,562 | |
MidWestOne Financial Group, Inc. | 5,683 | 196,802 | |
MutualFirst Financial, Inc. | 3,641 | 122,702 | |
National Bankshares, Inc. (b) | 3,435 | 138,431 | |
National Commerce Corp. (a) | 5,765 | 215,323 | |
NBT Bancorp, Inc. | 20,599 | 723,849 | |
Nicolet Bankshares, Inc. (a) | 5,593 | 278,420 | |
Northeast Bancorp | 4,436 | 85,837 | |
Northrim Bancorp, Inc. | 4,554 | 135,254 | |
Norwood Financial Corp. | 2,075 | 80,718 | |
Oak Valley Bancorp Oakdale California | 1,916 | 27,341 | |
Ohio Valley Banc Corp. | 1,615 | 55,152 | |
Old Line Bancshares, Inc. | 5,575 | 156,100 | |
Old National Bancorp, Indiana | 61,385 | 969,883 | |
Old Point Financial Corp. | 2,751 | 80,604 | |
Old Second Bancorp, Inc. | 12,946 | 150,174 | |
Opus Bank | 16,310 | 350,665 | |
Orrstown Financial Services, Inc. | 5,165 | 108,982 | |
Pacific Continental Corp. | 10,158 | 239,221 | |
Pacific Mercantile Bancorp (a) | 11,962 | 92,107 | |
Pacific Premier Bancorp, Inc. (a) | 17,207 | 585,038 | |
PacWest Bancorp | 53,919 | 2,516,400 | |
Park Sterling Corp. | 26,964 | 313,052 | |
Parke Bancorp, Inc. | 4,186 | 86,650 | |
Patriot National Bancorp, Inc. (a) | 1,723 | 27,137 | |
Peapack-Gladstone Financial Corp. | 7,652 | 232,544 | |
Penns Woods Bancorp, Inc. | 2,428 | 95,906 | |
People's Utah Bancorp | 9,425 | 241,280 | |
Peoples Bancorp of North Carolina | 2,554 | 70,056 | |
Peoples Bancorp, Inc. | 9,268 | 280,357 | |
Peoples Financial Services Corp. | 3,750 | 147,450 | |
Peoples United Financial, Inc. | 135,332 | 2,242,451 | |
Pinnacle Financial Partners, Inc. (b) | 22,210 | 1,335,932 | |
Popular, Inc. | 46,567 | 1,732,292 | |
Preferred Bank, Los Angeles | 6,313 | 315,082 | |
Premier Financial Bancorp, Inc. | 5,570 | 110,063 | |
PrivateBancorp, Inc. | 35,255 | 2,100,845 | |
QCR Holdings, Inc. | 6,946 | 304,235 | |
Randolph Bancorp, Inc. | 3,346 | 49,019 | |
Renasant Corp. | 19,707 | 787,295 | |
Republic Bancorp, Inc., Kentucky Class A | 10,040 | 348,187 | |
Republic First Bancorp, Inc. (a)(b) | 24,918 | 220,524 | |
Royal Bancshares of Pennsylvania, Inc. Class A (a) | 18,156 | 74,076 | |
S&T Bancorp, Inc. | 17,324 | 578,102 | |
Salisbury Bancorp, Inc. | 1,410 | 56,541 | |
Sandy Spring Bancorp, Inc. | 11,613 | 445,591 | |
SB Financial Group, Inc. | 2,487 | 42,851 | |
Seacoast Banking Corp., Florida (a) | 17,472 | 394,168 | |
Select Bancorp, Inc. New (a) | 7,215 | 86,003 | |
ServisFirst Bancshares, Inc. (b) | 24,022 | 822,513 | |
Shore Bancshares, Inc. | 6,024 | 95,962 | |
Sierra Bancorp | 7,037 | 169,099 | |
Signature Bank (a) | 24,500 | 3,503,990 | |
Simmons First National Corp. Class A (b) | 14,497 | 735,723 | |
SmartFinancial, Inc. (a) | 4,760 | 111,527 | |
Sound Financial Bancorp, Inc. | 613 | 18,237 | |
South State Corp. | 13,147 | 1,092,516 | |
Southern First Bancshares, Inc. (a) | 3,716 | 127,087 | |
Southern National Bancorp of Virginia, Inc. | 7,461 | 127,658 | |
Southside Bancshares, Inc. (b) | 14,304 | 465,738 | |
Southwest Bancorp, Inc., Oklahoma | 8,993 | 221,228 | |
State Bank Financial Corp. | 19,172 | 486,010 | |
Stock Yards Bancorp, Inc. | 11,078 | 401,024 | |
Stonegate Bank | 6,147 | 278,090 | |
Summit Financial Group, Inc. | 6,928 | 149,922 | |
Summit State Bank | 1,296 | 16,589 | |
Sun Bancorp, Inc. | 9,248 | 228,888 | |
Sunshine Bancorp, Inc. (a) | 4,404 | 97,108 | |
Sussex Bancorp (b) | 2,339 | 58,709 | |
SVB Financial Group (a) | 23,375 | 3,985,438 | |
Texas Capital Bancshares, Inc. (a) | 22,038 | 1,617,589 | |
The First Bancorp, Inc. | 5,070 | 127,409 | |
TowneBank (b) | 28,556 | 828,124 | |
Trico Bancshares | 11,375 | 396,760 | |
TriState Capital Holdings, Inc. (a) | 12,723 | 295,174 | |
Triumph Bancorp, Inc. (a) | 7,375 | 168,150 | |
Trustmark Corp. (b) | 28,877 | 878,150 | |
Two River Bancorp | 4,812 | 76,511 | |
UMB Financial Corp. | 22,444 | 1,571,753 | |
Umpqua Holdings Corp. | 96,462 | 1,634,549 | |
Union Bankshares Corp. | 20,139 | 676,670 | |
Union Bankshares, Inc. (b) | 2,141 | 85,533 | |
United Bankshares, Inc., West Virginia (b) | 46,820 | 1,790,865 | |
United Community Bank, Inc. | 31,435 | 810,080 | |
United Security Bancshares, Inc. | 3,330 | 37,796 | |
United Security Bancshares, California | 2,705 | 25,427 | |
Unity Bancorp, Inc. | 5,218 | 83,227 | |
Univest Corp. of Pennsylvania (b) | 12,949 | 356,745 | |
Veritex Holdings, Inc.(a) | 6,811 | 177,086 | |
Washington Trust Bancorp, Inc. | 8,416 | 402,285 | |
WashingtonFirst Bankshares, Inc. | 6,548 | 214,905 | |
Wellesley Bancorp, Inc. | 1,635 | 45,780 | |
WesBanco, Inc. | 19,107 | 710,016 | |
West Bancorp., Inc. | 8,995 | 197,440 | |
Westamerica Bancorp. (b) | 12,396 | 636,039 | |
Wintrust Financial Corp. | 23,286 | 1,601,145 | |
Xenith Bankshares, Inc. (a) | 10,745 | 329,979 | |
Zions Bancorporation | 87,803 | 3,518,266 | |
131,252,039 | |||
Capital Markets - 1.7% | |||
180 Degree Capital Corp. (a)(b) | 25,941 | 40,209 | |
American Capital Senior Floating Ltd. | 6,994 | 91,621 | |
B. Riley Financial, Inc. (b) | 9,580 | 144,179 | |
BGC Partners, Inc. Class A | 114,706 | 1,352,384 | |
Capital Southwest Corp. | 11,622 | 183,744 | |
Capitala Finance Corp. | 9,210 | 124,519 | |
Carlyle Group LP | 40,069 | 707,218 | |
CBOE Holdings, Inc. (b) | 36,763 | 3,175,220 | |
CM Finance, Inc. | 11,999 | 124,790 | |
CME Group, Inc. | 153,873 | 18,047,764 | |
Cowen Group, Inc. Class A (a)(b) | 12,712 | 191,316 | |
Diamond Hill Investment Group, Inc. | 1,869 | 377,949 | |
E*TRADE Financial Corp. (a) | 124,674 | 4,314,967 | |
FBR & Co. | 4,327 | 76,588 | |
Fifth Street Asset Management, Inc. Class A (b) | 11,457 | 42,964 | |
Financial Engines, Inc. (b) | 28,680 | 1,086,972 | |
Global Brokerage, Inc. Class A (a)(b) | 3,796 | 7,592 | |
Hamilton Lane, Inc. Class A | 9,226 | 186,642 | |
Harvest Capital Credit Corp. | 5,062 | 66,515 | |
Hennessy Advisors, Inc. (b) | 4,537 | 65,242 | |
Horizon Technology Finance Corp. (b) | 6,875 | 75,625 | |
iFresh, Inc. (a) | 3,145 | 40,571 | |
Interactive Brokers Group, Inc. (b) | 30,778 | 1,073,537 | |
INTL FCStone, Inc. (a) | 11,667 | 403,212 | |
LPL Financial | 41,006 | 1,596,364 | |
MarketAxess Holdings, Inc. | 17,022 | 3,244,053 | |
Morningstar, Inc. | 20,575 | 1,505,679 | |
Newtek Business Services Corp. (b) | 11,116 | 188,083 | |
Northern Trust Corp. | 103,588 | 9,057,735 | |
Paragon Commercial Corp. | 3,289 | 167,213 | |
SEI Investments Co. | 72,721 | 3,642,595 | |
Siebert Financial Corp. | 2,067 | 8,351 | |
Silvercrest Asset Management Group Class A | 5,999 | 73,488 | |
T. Rowe Price Group, Inc. (b) | 110,505 | 7,783,972 | |
TD Ameritrade Holding Corp. | 239,620 | 8,952,203 | |
The NASDAQ OMX Group, Inc. | 74,715 | 5,054,470 | |
TheStreet.com, Inc. (a) | 8,907 | 8,284 | |
U.S. Global Investments, Inc. Class A | 870 | 1,279 | |
Value Line, Inc. (b) | 1,458 | 25,413 | |
Virtu Financial, Inc. Class A (b) | 18,401 | 299,936 | |
Virtus Investment Partners, Inc. (b) | 3,303 | 332,612 | |
Wins Finance Holdings, Inc. (a)(b) | 9,151 | 172,679 | |
WisdomTree Investments, Inc. (b) | 61,956 | 589,202 | |
Yintech Investment Holdings Ltd. sponsored ADR (b) | 5,350 | 53,714 | |
74,758,665 | |||
Consumer Finance - 0.2% | |||
Asta Funding, Inc. (a) | 7,175 | 46,638 | |
Atlanticus Holdings Corp. (a) | 2,291 | 5,430 | |
Consumer Portfolio Services, Inc. (a) | 11,810 | 49,366 | |
Credit Acceptance Corp. (a)(b) | 8,896 | 1,912,818 | |
Encore Capital Group, Inc. (a)(b) | 11,714 | 424,047 | |
EZCORP, Inc. (non-vtg.) Class A (a) | 23,324 | 198,254 | |
Navient Corp. | 129,504 | 1,868,743 | |
Nicholas Financial, Inc. (a) | 4,973 | 41,823 | |
PRA Group, Inc. (a)(b) | 21,378 | 743,954 | |
SLM Corp. (a) | 194,844 | 2,024,429 | |
World Acceptance Corp. (a)(b) | 3,858 | 301,387 | |
7,616,889 | |||
Diversified Financial Services - 0.1% | |||
A-Mark Precious Metals, Inc. | 3,619 | 58,736 | |
Ability, Inc. (a) | 4,624 | 2,728 | |
Bioverativ, Inc. | 48,907 | 2,694,287 | |
Boulevard Acquisition Corp. II (a) | 19,656 | 196,560 | |
China Commercial Credit, Inc. (a)(b) | 11,141 | 26,627 | |
Double Eagle Acquisition Corp. (a) | 3,477 | 34,770 | |
GDS Holdings Ltd. ADR | 9,856 | 76,483 | |
Harmony Merger Corp. (a)(b) | 2,078 | 21,279 | |
Marlin Business Services Corp. | 7,008 | 177,653 | |
NCS Multistage Holdings, Inc. | 20,000 | 524,800 | |
NewStar Financial, Inc. | 18,384 | 163,434 | |
PICO Holdings, Inc. (a) | 11,230 | 183,611 | |
Quantenna Communications, Inc. (b) | 14,885 | 284,601 | |
Ra Pharmaceuticals, Inc. | 10,044 | 241,257 | |
Silver Run Acquisition Corp. II Class A (a) | 35,972 | 356,123 | |
Smart Sand, Inc. (b) | 18,093 | 176,226 | |
Tiptree, Inc. | 15,939 | 96,431 | |
Varex Imaging Corp. (a)(b) | 16,990 | 583,607 | |
5,899,213 | |||
Insurance - 0.9% | |||
1347 Property Insurance Holdings, Inc. (a) | 2,663 | 19,706 | |
AMBAC Financial Group, Inc. (a) | 19,885 | 328,500 | |
American National Insurance Co. | 13,183 | 1,549,398 | |
Amerisafe, Inc. | 8,938 | 462,988 | |
AmTrust Financial Services, Inc. (b) | 77,516 | 1,018,560 | |
Arch Capital Group Ltd. (a) | 55,109 | 5,359,350 | |
Argo Group International Holdings, Ltd. | 13,568 | 839,859 | |
Atlas Financial Holdings, Inc. (a) | 5,400 | 81,000 | |
Baldwin & Lyons, Inc. Class B | 7,826 | 186,259 | |
Cincinnati Financial Corp. | 74,386 | 5,212,971 | |
CNinsure, Inc. ADR | 19,108 | 175,411 | |
Conifer Holdings, Inc. (a) | 3,170 | 22,983 | |
Donegal Group, Inc. Class A | 14,111 | 221,402 | |
eHealth, Inc. (a) | 8,272 | 151,543 | |
EMC Insurance Group | 11,767 | 319,121 | |
Enstar Group Ltd. (a)(b) | 7,519 | 1,410,940 | |
Erie Indemnity Co. Class A | 21,887 | 2,577,632 | |
Federated National Holding Co. | 7,880 | 123,874 | |
Global Indemnity Ltd. (a) | 7,177 | 272,798 | |
Greenlight Capital Re, Ltd. (a)(b) | 14,412 | 296,887 | |
Hallmark Financial Services, Inc. (a) | 8,020 | 83,007 | |
Health Insurance Innovations, Inc. (a)(b) | 5,343 | 118,882 | |
Infinity Property & Casualty Corp. | 5,071 | 485,548 | |
Investors Title Co. | 888 | 165,985 | |
James River Group Holdings Ltd. | 13,807 | 547,309 | |
Kingstone Companies, Inc. | 5,340 | 78,231 | |
Kinsale Capital Group, Inc. | 10,091 | 365,698 | |
Maiden Holdings Ltd. | 40,022 | 422,232 | |
National General Holdings Corp. | 48,506 | 1,065,192 | |
National Western Life Group, Inc. (b) | 1,585 | 486,833 | |
Navigators Group, Inc. | 14,214 | 753,342 | |
Oxbridge Re Holdings Ltd. | 1,344 | 7,526 | |
Safety Insurance Group, Inc. | 7,590 | 505,115 | |
Selective Insurance Group, Inc. (b) | 26,360 | 1,346,996 | |
State Auto Financial Corp. | 21,085 | 524,173 | |
State National Companies, Inc. | 20,235 | 355,529 | |
Trupanion, Inc. (a)(b) | 14,015 | 285,065 | |
Unico American Corp. (a) | 912 | 8,755 | |
United Fire Group, Inc. | 11,808 | 510,696 | |
United Insurance Holdings Corp. | 20,618 | 334,630 | |
Willis Group Holdings PLC | 61,172 | 8,969,650 | |
WMI Holdings Corp. (a)(b) | 102,943 | 113,237 | |
38,164,813 | |||
Mortgage Real Estate Investment Trusts - 0.1% | |||
Agnc Investment Corp. | 157,561 | 3,275,693 | |
American Capital Mortgage Investment Corp. | 22,010 | 401,683 | |
CIM Commercial Trust Corp. | 29,458 | 465,436 | |
Manhattan Bridge Capital, Inc. | 5,249 | 27,295 | |
New York Mortgage Trust, Inc. (b) | 51,214 | 318,551 | |
4,488,658 | |||
Real Estate Management & Development - 0.0% | |||
The RMR Group, Inc. | 7,649 | 375,566 | |
Thrifts & Mortgage Finance - 0.4% | |||
America First Tax Exempt Investors LP | 34,610 | 202,469 | |
ASB Bancorp, Inc. (a) | 1,802 | 72,981 | |
Bank Mutual Corp. | 28,158 | 249,198 | |
BankFinancial Corp. | 9,953 | 146,110 | |
Bear State Financial, Inc. | 19,824 | 173,262 | |
Beneficial Bancorp, Inc. | 38,204 | 559,689 | |
BofI Holding, Inc. (a)(b) | 28,956 | 642,823 | |
BSB Bancorp, Inc. (a) | 5,774 | 167,446 | |
Capitol Federal Financial, Inc. (b) | 64,303 | 888,667 | |
Carver Bancorp, Inc. (a) | 695 | 2,495 | |
Charter Financial Corp. | 7,995 | 143,111 | |
Citizens Community Bancorp, Inc. | 3,987 | 55,579 | |
Clifton Bancorp, Inc. | 15,654 | 254,378 | |
Coastway Bancorp, Inc. (a) | 2,959 | 60,660 | |
Dime Community Bancshares, Inc. | 18,614 | 353,666 | |
Entegra Financial Corp. (a) | 4,726 | 112,243 | |
ESSA Bancorp, Inc. | 8,057 | 117,229 | |
First Capital, Inc. | 744 | 23,510 | |
First Defiance Financial Corp. | 5,050 | 263,105 | |
Hingham Institution for Savings | 1,113 | 196,155 | |
HMN Financial, Inc. (a) | 448 | 7,885 | |
Home Bancorp, Inc. | 4,004 | 139,339 | |
HomeStreet, Inc. (a) | 13,029 | 349,177 | |
HopFed Bancorp, Inc. | 3,975 | 57,757 | |
Kearny Financial Corp. | 41,542 | 579,511 | |
Lake Shore Bancorp, Inc. | 812 | 12,708 | |
Lendingtree, Inc. (a)(b) | 5,360 | 834,016 | |
Malvern Bancorp, Inc. (a) | 4,668 | 102,229 | |
Meridian Bancorp, Inc. Maryland | 28,244 | 457,553 | |
Meta Financial Group, Inc. | 4,207 | 360,119 | |
MMA Capital Management, LLC (a) | 4,591 | 105,593 | |
NMI Holdings, Inc. (a) | 28,030 | 291,512 | |
Northfield Bancorp, Inc. (b) | 23,974 | 394,612 | |
Northwest Bancshares, Inc. (b) | 46,959 | 722,699 | |
OceanFirst Financial Corp. | 14,467 | 383,376 | |
Oritani Financial Corp. (b) | 26,552 | 439,436 | |
PB Bancorp, Inc. | 4,855 | 50,249 | |
Provident Financial Holdings, Inc. | 8,181 | 155,439 | |
Prudential Bancorp, Inc. | 6,580 | 121,006 | |
Riverview Bancorp, Inc. | 11,994 | 81,799 | |
Severn Bancorp, Inc. (a) | 677 | 4,773 | |
SI Financial Group, Inc. | 10,586 | 158,790 | |
Southern Missouri Bancorp, Inc. | 3,990 | 125,286 | |
Territorial Bancorp, Inc. | 6,768 | 203,446 | |
TFS Financial Corp. | 132,895 | 2,075,820 | |
Timberland Bancorp, Inc. | 5,100 | 115,872 | |
Trustco Bank Corp., New York | 48,466 | 356,225 | |
United Community Financial Corp. | 22,473 | 177,761 | |
United Financial Bancorp, Inc. New | 24,301 | 393,433 | |
Washington Federal, Inc. | 39,230 | 1,253,399 | |
Waterstone Financial, Inc. | 18,772 | 354,791 | |
Westfield Financial, Inc. | 14,410 | 143,380 | |
WSFS Financial Corp. | 14,463 | 637,818 | |
16,331,585 | |||
TOTAL FINANCIALS | 278,887,428 | ||
HEALTH CARE - 11.8% | |||
Biotechnology - 7.2% | |||
Abeona Therapeutics, Inc. (a)(b) | 17,245 | 92,261 | |
AC Immune SA (b) | 25,953 | 230,982 | |
ACADIA Pharmaceuticals, Inc. (a)(b) | 54,561 | 1,402,763 | |
Acceleron Pharma, Inc. (a)(b) | 17,424 | 444,486 | |
Achillion Pharmaceuticals, Inc. (a)(b) | 60,881 | 270,920 | |
Acorda Therapeutics, Inc. (a) | 21,477 | 296,383 | |
Adamas Pharmaceuticals, Inc. (a)(b) | 9,300 | 143,034 | |
Adaptimmune Therapeutics PLC sponsored ADR (a) | 13,732 | 72,505 | |
ADMA Biologics, Inc. (a)(b) | 4,173 | 15,440 | |
Aduro Biotech, Inc. (a) | 32,110 | 321,100 | |
Advanced Accelerator Applications SA sponsored ADR (a)(b) | 18,667 | 705,239 | |
Advaxis, Inc. (a)(b) | 13,731 | 110,809 | |
Adverum Biotechnologies, Inc. (a)(b) | 17,955 | 45,785 | |
Aeglea BioTherapeutics, Inc. (a) | 6,942 | 29,295 | |
AEterna Zentaris, Inc. (a) | 7,447 | 8,104 | |
Aevi Genomic Medicine, Inc. (a)(b) | 16,242 | 17,379 | |
Affimed NV (a)(b) | 18,764 | 41,281 | |
Agenus, Inc. (a)(b) | 39,702 | 131,811 | |
Agios Pharmaceuticals, Inc. (a)(b) | 21,335 | 995,704 | |
Aimmune Therapeutics, Inc. (a)(b) | 23,770 | 394,582 | |
Akebia Therapeutics, Inc. (a) | 18,000 | 241,200 | |
Albireo Pharma, Inc. (a)(b) | 2,578 | 52,797 | |
Alder Biopharmaceuticals, Inc. (a) | 23,650 | 364,210 | |
Aldeyra Therapeutics, Inc. (a)(b) | 9,297 | 46,950 | |
Alexion Pharmaceuticals, Inc. (a) | 101,905 | 9,989,747 | |
Alkermes PLC (a)(b) | 69,400 | 4,008,544 | |
Alnylam Pharmaceuticals, Inc. (a)(b) | 39,038 | 2,555,427 | |
AMAG Pharmaceuticals, Inc. (a)(b) | 15,138 | 261,887 | |
Amarin Corp. PLC ADR (a)(b) | 126,310 | 371,351 | |
Amgen, Inc. | 333,981 | 51,847,210 | |
Amicus Therapeutics, Inc. (a)(b) | 65,162 | 522,599 | |
AnaptysBio, Inc. | 9,289 | 237,706 | |
Anavex Life Sciences Corp. (a)(b) | 16,191 | 93,746 | |
Anthera Pharmaceuticals, Inc. (a)(b) | 2,014 | 3,243 | |
Applied Genetic Technologies Corp. (a) | 5,947 | 30,924 | |
Aptevo Therapeutics, Inc. (a) | 14,411 | 30,407 | |
AquaBounty Technologies, Inc. (a)(b) | 4,246 | 34,902 | |
Aquinox Pharmaceuticals, Inc. (a)(b) | 11,782 | 150,338 | |
Arbutus Biopharma Corp. (a) | 27,115 | 92,191 | |
Ardelyx, Inc. (a)(b) | 21,875 | 102,813 | |
Arena Pharmaceuticals, Inc. (a) | 140,896 | 183,165 | |
Argos Therapeutics, Inc. (a)(b) | 14,047 | 6,110 | |
ArQule, Inc. (a)(b) | 26,211 | 31,191 | |
Array BioPharma, Inc. (a)(b) | 75,750 | 574,185 | |
Arrowhead Pharmaceuticals, Inc. (a)(b) | 37,672 | 54,248 | |
Ascendis Pharma A/S sponsored ADR (a)(b) | 14,995 | 357,631 | |
Atara Biotherapeutics, Inc. (a)(b) | 12,524 | 165,943 | |
Athersys, Inc. (a)(b) | 57,904 | 81,066 | |
aTyr Pharma, Inc. (a)(b) | 8,217 | 26,705 | |
Audentes Therapeutics, Inc. | 13,459 | 192,060 | |
Aurinia Pharmaceuticals, Inc. (a)(b) | 24,941 | 155,632 | |
AVEO Pharmaceuticals, Inc. (a)(b) | 34,503 | 24,497 | |
Aviragen Therapeutics, Inc. (a) | 7,051 | 3,315 | |
BeiGene Ltd. ADR (a) | 8,645 | 317,704 | |
Bellicum Pharmaceuticals, Inc. (a)(b) | 14,882 | 157,600 | |
BioCryst Pharmaceuticals, Inc. (a)(b) | 31,319 | 161,293 | |
Biogen, Inc. (a) | 97,906 | 24,258,170 | |
BioLine RX Ltd. sponsored ADR (a)(b) | 25,413 | 21,090 | |
BioMarin Pharmaceutical, Inc. (a) | 78,503 | 6,880,003 | |
Biospecifics Technologies Corp. (a) | 3,703 | 191,926 | |
bluebird bio, Inc. (a)(b) | 18,517 | 1,395,256 | |
Blueprint Medicines Corp. (a)(b) | 17,593 | 631,237 | |
BrainStorm Cell Therpeutic, Inc. (a) | 9,690 | 38,276 | |
Calithera Biosciences, Inc. (a) | 16,354 | 254,305 | |
Cancer Genetics, Inc. (a)(b) | 9,356 | 36,021 | |
Capricor Therapeutics, Inc. (a) | 12,301 | 10,025 | |
Cara Therapeutics, Inc. (a)(b) | 12,675 | 209,898 | |
CareDx, Inc. (a) | 5,786 | 5,960 | |
Cascadian Therapeutics, Inc. (a) | 20,438 | 79,708 | |
CASI Pharmaceuticals, Inc. (a) | 899 | 908 | |
Catabasis Pharmaceuticals, Inc. (a)(b) | 5,874 | 7,871 | |
Catalyst Biosciences, Inc. (a) | 75 | 355 | |
Catalyst Pharmaceutical Partners, Inc. (a) | 55,353 | 117,348 | |
Celgene Corp. (a) | 352,841 | 40,368,539 | |
Celldex Therapeutics, Inc. (a)(b) | 58,440 | 165,385 | |
Cellectis SA sponsored ADR (a)(b) | 6,452 | 153,622 | |
Cellular Biomedicine Group, Inc. (a)(b) | 5,056 | 32,358 | |
Celsion Corp. (a)(b) | 776 | 2,068 | |
Cerulean Pharma, Inc. (a)(b) | 8,259 | 3,138 | |
ChemoCentryx, Inc. (a)(b) | 23,177 | 153,895 | |
Chiasma, Inc. (a)(b) | 6,835 | 9,911 | |
Chimerix, Inc. (a) | 21,248 | 95,191 | |
China Biologic Products, Inc. (a)(b) | 12,248 | 1,393,822 | |
Cidara Therapeutics, Inc. (a)(b) | 6,456 | 38,736 | |
Cleveland Biolabs, Inc. (a)(b) | 4,912 | 20,336 | |
Clovis Oncology, Inc. (a)(b) | 20,036 | 1,035,060 | |
Coherus BioSciences, Inc. (a)(b) | 23,321 | 460,590 | |
Conatus Pharmaceuticals, Inc. (a) | 13,278 | 65,461 | |
Concert Pharmaceuticals, Inc. (a) | 10,741 | 134,907 | |
ContraFect Corp. (a) | 12,357 | 14,828 | |
Corbus Pharmaceuticals Holdings, Inc. (a)(b) | 23,447 | 145,371 | |
Corvus Pharmaceuticals, Inc. (a)(b) | 8,914 | 90,566 | |
CRISPR Therapeutics AG (b) | 18,386 | 250,417 | |
CTI BioPharma Corp. (a)(b) | 13,150 | 53,521 | |
Curis, Inc. (a) | 60,522 | 103,493 | |
Cyclacel Pharmaceuticals, Inc. (b) | 2,985 | 12,567 | |
Cytokinetics, Inc. (a) | 20,469 | 277,355 | |
CytomX Therapeutics, Inc. (a) | 17,443 | 245,772 | |
Cytori Therapeutics, Inc. (a)(b) | 4,734 | 4,734 | |
CytRx Corp. (a)(b) | 62,301 | 54,700 | |
DBV Technologies SA sponsored ADR (a)(b) | 12,331 | 409,389 | |
DelMar Pharmaceuticals, Inc. (a)(b) | 4,500 | 9,900 | |
Dicerna Pharmaceuticals, Inc. (a)(b) | 5,947 | 18,436 | |
Dimension Therapeutics, Inc. (a)(b) | 8,907 | 9,798 | |
Dyax Corp. rights 12/31/19 (a) | 43,075 | 139,563 | |
Dynavax Technologies Corp. (a)(b) | 19,428 | 106,854 | |
Eagle Pharmaceuticals, Inc. (a)(b) | 7,045 | 513,933 | |
Edge Therapeutics, Inc. (a)(b) | 14,054 | 137,729 | |
Editas Medicine, Inc. (a)(b) | 18,787 | 256,630 | |
Eiger Biopharmaceuticals, Inc. (a)(b) | 4,713 | 31,341 | |
Eleven Biotherapeutics, Inc. (a)(b) | 16,656 | 22,819 | |
Enanta Pharmaceuticals, Inc. (a) | 8,653 | 260,282 | |
Enzymotec Ltd. (a)(b) | 10,987 | 88,995 | |
Epizyme, Inc. (a)(b) | 26,362 | 376,977 | |
Esperion Therapeutics, Inc. (a)(b) | 10,147 | 324,907 | |
Exact Sciences Corp. (a)(b) | 43,778 | 1,596,584 | |
Exelixis, Inc. (a)(b) | 131,618 | 2,462,573 | |
Fate Therapeutics, Inc. (a)(b) | 16,845 | 56,768 | |
Fibrocell Science, Inc. (a)(b) | 3,914 | 8,376 | |
FibroGen, Inc. (a)(b) | 31,626 | 831,764 | |
Five Prime Therapeutics, Inc. (a) | 14,369 | 405,924 | |
Flexion Therapeutics, Inc. (a)(b) | 13,568 | 231,877 | |
Fortress Biotech, Inc. (a) | 23,750 | 85,738 | |
Forward Pharma A/S sponsored ADR (a)(b) | 5,336 | 105,119 | |
Foundation Medicine, Inc. (a)(b) | 16,046 | 609,748 | |
Galapagos Genomics NV sponsored ADR (a) | 4,578 | 376,907 | |
Galectin Therapeutics, Inc. (a)(b) | 16,710 | 37,932 | |
Galena Biopharma, Inc. (a)(b) | 2,534 | 1,421 | |
Galmed Pharmaceuticals Ltd. (a)(b) | 6,865 | 34,325 | |
Genocea Biosciences, Inc. (a)(b) | 15,674 | 95,611 | |
Genomic Health, Inc. (a) | 16,244 | 515,909 | |
GenVec, Inc. (a) | 385 | 2,476 | |
Geron Corp. (a)(b) | 71,402 | 189,929 | |
Gilead Sciences, Inc. | 592,655 | 38,457,383 | |
Global Blood Therapeutics, Inc. (a)(b) | 19,753 | 533,331 | |
GlycoMimetics, Inc. (a)(b) | 13,314 | 168,955 | |
Grifols SA ADR | 66,580 | 1,428,807 | |
GTx, Inc. (a)(b) | 4,590 | 13,954 | |
Halozyme Therapeutics, Inc. (a)(b) | 58,472 | 689,970 | |
Harvard Apparatus (a) | 528 | 148 | |
Heron Therapeutics, Inc. (a)(b) | 17,185 | 230,279 | |
Histogenics Corp. (a) | 3,605 | 5,768 | |
Idera Pharmaceuticals, Inc. (a)(b) | 66,555 | 108,485 | |
Ignyta, Inc. (a) | 17,939 | 126,470 | |
Immune Design Corp. (a)(b) | 12,481 | 92,983 | |
ImmunoGen, Inc. (a)(b) | 40,543 | 186,903 | |
Immunomedics, Inc. (a)(b) | 48,292 | 364,605 | |
Incyte Corp. (a) | 85,926 | 11,112,810 | |
Infinity Pharmaceuticals, Inc. (a)(b) | 24,223 | 41,664 | |
Inotek Pharmaceuticals Corp. (a)(b) | 10,414 | 17,704 | |
Inovio Pharmaceuticals, Inc. (a)(b) | 34,108 | 257,515 | |
Insmed, Inc. (a) | 27,534 | 424,574 | |
Insys Therapeutics, Inc. (a)(b) | 33,432 | 491,450 | |
Intellia Therapeutics, Inc. (a)(b) | 16,634 | 190,626 | |
Intercept Pharmaceuticals, Inc. (a)(b) | 11,189 | 1,252,049 | |
Ionis Pharmaceuticals, Inc. (a)(b) | 55,011 | 2,518,954 | |
Ironwood Pharmaceuticals, Inc. Class A (a)(b) | 59,472 | 1,053,249 | |
Jounce Therapeutics, Inc. (b) | 14,234 | 288,239 | |
Juno Therapeutics, Inc. (a)(b) | 47,743 | 1,109,070 | |
Kalvista Pharmaceuticals, Inc. (a)(b) | 4,913 | 36,553 | |
Kamada (a)(b) | 11,602 | 81,794 | |
Karyopharm Therapeutics, Inc. (a)(b) | 20,482 | 166,314 | |
Keryx Biopharmaceuticals, Inc. (a) | 48,559 | 310,292 | |
Kindred Biosciences, Inc. (a) | 10,358 | 70,434 | |
Kite Pharma, Inc. (a)(b) | 25,139 | 1,818,052 | |
Kura Oncology, Inc. (a)(b) | 11,058 | 98,416 | |
La Jolla Pharmaceutical Co. (a)(b) | 9,021 | 258,001 | |
Leap Therapeutics, Inc. (a)(b) | 4,221 | 27,901 | |
Lexicon Pharmaceuticals, Inc. (a)(b) | 48,264 | 668,456 | |
Ligand Pharmaceuticals, Inc.: | |||
Class B (a)(b) | 9,734 | 1,053,998 | |
General CVR (a) | 1,518 | 38 | |
Glucagon CVR (a) | 1,518 | 106 | |
rights (a) | 1,518 | 6 | |
TR Beta CVR (a) | 1,518 | 8 | |
Lion Biotechnologies, Inc. (a) | 33,998 | 175,090 | |
Loxo Oncology, Inc. (a)(b) | 12,008 | 548,165 | |
Macrogenics, Inc. (a)(b) | 16,777 | 297,792 | |
Madrigal Pharmaceuticals, Inc. (a)(b) | 5,723 | 87,104 | |
MannKind Corp. (a)(b) | 45,814 | 69,637 | |
MediciNova, Inc. (a)(b) | 17,257 | 100,436 | |
MEI Pharma, Inc. (a) | 19,671 | 44,260 | |
Merrimack Pharmaceuticals, Inc. | 57,062 | 103,568 | |
Mesoblast Ltd. sponsored ADR (a)(b) | 2,255 | 18,040 | |
MiMedx Group, Inc. (a)(b) | 49,996 | 683,945 | |
Minerva Neurosciences, Inc. (a)(b) | 17,461 | 144,053 | |
Miragen Therapeutics, Inc. (a) | 9,677 | 105,673 | |
Mirati Therapeutics, Inc. (a)(b) | 10,952 | 30,666 | |
Momenta Pharmaceuticals, Inc. (a) | 32,733 | 474,629 | |
Myriad Genetics, Inc. (a)(b) | 31,446 | 639,926 | |
NantKwest, Inc. (a)(b) | 39,205 | 143,882 | |
Natera, Inc. (a)(b) | 25,684 | 263,004 | |
Neothetics, Inc. (a)(b) | 4,838 | 11,805 | |
Neuralstem, Inc. (a)(b) | 7,185 | 32,045 | |
Neurocrine Biosciences, Inc. (a)(b) | 39,410 | 1,713,153 | |
NewLink Genetics Corp. (a)(b) | 13,869 | 176,968 | |
Nexvet Biopharma PLC (a)(b) | 5,964 | 39,541 | |
Nivalis Therapeutics, Inc. (a) | 5,852 | 13,460 | |
Novavax, Inc. (a)(b) | 125,934 | 116,023 | |
Novelion Therapeutics, Inc. (a)(b) | 10,420 | 87,007 | |
Novelion Therapeutics, Inc.: | |||
warrants | 35,660 | 0 | |
warrants | 35,660 | 0 | |
Nymox Pharmaceutical Corp. (a)(b) | 26,172 | 112,540 | |
Ohr Pharmaceutical, Inc. (a)(b) | 12,628 | 7,577 | |
OncoGenex Pharmaceuticals, Inc. (a)(b) | 48,200 | 18,364 | |
OncoMed Pharmaceuticals, Inc. (a)(b) | 17,228 | 56,163 | |
Onconova Therapeutics, Inc. (a) | 282 | 522 | |
OncoSec Medical, Inc. (a)(b) | 4,800 | 5,136 | |
Ophthotech Corp. (a)(b) | 12,779 | 29,008 | |
Opko Health, Inc. (a)(b) | 251,748 | 1,545,733 | |
Organovo Holdings, Inc. (a)(b) | 41,659 | 117,895 | |
Otonomy, Inc. (a) | 13,846 | 169,614 | |
OvaScience, Inc. (a)(b) | 12,030 | 15,398 | |
PDL BioPharma, Inc. (b) | 72,841 | 174,090 | |
Peregrine Pharmaceuticals, Inc. (a) | 148,095 | 81,748 | |
Pieris Pharmaceuticals, Inc. (a) | 22,483 | 102,972 | |
Pluristem Therapeutics, Inc. (a)(b) | 41,630 | 57,866 | |
Portola Pharmaceuticals, Inc. (a)(b) | 25,579 | 942,586 | |
Prana Biotechnology Ltd. ADR (a) | 548 | 1,151 | |
Progenics Pharmaceuticals, Inc. (a)(b) | 34,412 | 219,204 | |
ProNai Therapeutics, Inc. (a)(b) | 35,365 | 39,962 | |
ProQR Therapeutics BV (a)(b) | 12,211 | 59,834 | |
Protagonist Therapeutics, Inc. (b) | 6,546 | 73,119 | |
Proteon Therapeutics, Inc. (a) | 4,823 | 5,788 | |
Proteostasis Therapeutics, Inc. (a)(b) | 9,556 | 37,842 | |
Prothena Corp. PLC (a)(b) | 15,915 | 811,824 | |
PTC Therapeutics, Inc. (a)(b) | 19,883 | 249,134 | |
Puma Biotechnology, Inc. (a)(b) | 14,924 | 1,141,686 | |
Radius Health, Inc. (a)(b) | 19,766 | 684,299 | |
Recro Pharma, Inc. (a)(b) | 10,456 | 75,911 | |
Regeneron Pharmaceuticals, Inc. (a)(b) | 47,254 | 21,692,421 | |
REGENXBIO, Inc. (a)(b) | 13,198 | 225,686 | |
Regulus Therapeutics, Inc. (a)(b) | 29,282 | 40,995 | |
Repligen Corp. (a)(b) | 15,464 | 606,807 | |
Retrophin, Inc. (a)(b) | 19,325 | 306,301 | |
Rigel Pharmaceuticals, Inc. (a) | 59,089 | 135,314 | |
Sage Therapeutics, Inc. (a)(b) | 16,737 | 1,106,483 | |
Sangamo Therapeutics, Inc. (a)(b) | 33,499 | 227,793 | |
Sarepta Therapeutics, Inc. (a)(b) | 24,833 | 741,017 | |
Seattle Genetics, Inc. (a)(b) | 64,800 | 4,145,904 | |
Selecta Biosciences, Inc. (b) | 9,175 | 125,514 | |
Seres Therapeutics, Inc. (a)(b) | 18,272 | 166,641 | |
Shire PLC sponsored ADR | 37,443 | 6,467,155 | |
Sinovac Biotech Ltd. (a) | 32,521 | 173,337 | |
Sophiris Bio, Inc. (a)(b) | 19,042 | 45,320 | |
Sorrento Therapeutics, Inc. (a)(b) | 24,434 | 37,873 | |
Spark Therapeutics, Inc. (a)(b) | 14,168 | 721,576 | |
Spectrum Pharmaceuticals, Inc. (a) | 38,582 | 218,374 | |
Spring Bank Pharmaceuticals, Inc. (b) | 3,142 | 38,992 | |
Stemline Therapeutics, Inc. (a)(b) | 11,610 | 91,719 | |
Strongbridge Biopharma PLC (a) | 12,354 | 58,682 | |
Summit Therapeutics PLC sponsored ADR (a) | 1,658 | 18,420 | |
Sunesis Pharmaceuticals, Inc. (a)(b) | 9,067 | 26,838 | |
Syndax Pharmaceuticals, Inc. (a)(b) | 8,415 | 102,158 | |
Synergy Pharmaceuticals, Inc. (a)(b) | 105,603 | 370,667 | |
Syros Pharmaceuticals, Inc. | 12,369 | 197,904 | |
T2 Biosystems, Inc. (a)(b) | 11,585 | 38,346 | |
Tapimmune, Inc. (a)(b) | 4,601 | 17,714 | |
Tenax Therapeutics, Inc. (a)(b) | 12,195 | 6,110 | |
TESARO, Inc. (a)(b) | 24,352 | 3,635,997 | |
TG Therapeutics, Inc. (a)(b) | 24,653 | 277,346 | |
Threshold Pharmaceuticals, Inc. (a)(b) | 20,539 | 9,386 | |
TiGenix NV ADR | 1,768 | 29,968 | |
Tobira Therapeutics, Inc. rights (b) | 6,103 | 115,957 | |
TONIX Pharmaceuticals Holding (a) | 1,259 | 5,426 | |
TRACON Pharmaceuticals, Inc. (a)(b) | 7,442 | 20,093 | |
Trevena, Inc. (a)(b) | 29,924 | 69,723 | |
Trillium Therapeutics, Inc. (a)(b) | 4,186 | 20,948 | |
Trovagene, Inc. (a)(b) | 10,513 | 6,764 | |
Ultragenyx Pharmaceutical, Inc. (a)(b) | 18,915 | 1,018,573 | |
uniQure B.V. (a)(b) | 9,527 | 52,780 | |
United Therapeutics Corp. (a)(b) | 20,404 | 2,466,640 | |
Vanda Pharmaceuticals, Inc. (a) | 19,773 | 271,879 | |
VBI Vaccines, Inc. (a)(b) | 17,425 | 72,314 | |
VBL Therapeutics (a) | 11,422 | 62,250 | |
Veracyte, Inc. (a)(b) | 15,444 | 125,714 | |
Verastem, Inc. (a) | 17,407 | 35,858 | |
Vericel Corp. (a)(b) | 18,264 | 53,879 | |
Versartis, Inc. (a) | 15,822 | 242,868 | |
Vertex Pharmaceuticals, Inc. (a) | 112,667 | 13,925,641 | |
Vical, Inc. (a) | 1,345 | 3,268 | |
Vital Therapies, Inc. (a)(b) | 20,599 | 54,587 | |
Voyager Therapeutics, Inc. (a)(b) | 12,845 | 113,807 | |
vTv Therapeutics, Inc. Class A (a) | 3,233 | 16,100 | |
Xbiotech, Inc. (a)(b) | 15,181 | 111,884 | |
Xencor, Inc. (a)(b) | 21,652 | 443,866 | |
Xenon Pharmaceuticals, Inc. (a)(b) | 7,695 | 28,087 | |
XOMA Corp. (a)(b) | 4,636 | 29,995 | |
Zafgen, Inc. (a) | 16,008 | 54,267 | |
ZIOPHARM Oncology, Inc. (a)(b) | 61,080 | 357,318 | |
309,780,030 | |||
Health Care Equipment & Supplies - 1.7% | |||
Abaxis, Inc. | 10,611 | 513,572 | |
Abiomed, Inc. (a)(b) | 19,701 | 2,707,508 | |
Accuray, Inc. (a)(b) | 36,599 | 150,056 | |
Aethlon Medical, Inc. (a)(b) | 3,425 | 7,227 | |
Align Technology, Inc. (a) | 36,321 | 5,273,809 | |
Alliqua Biomedical, Inc. (a)(b) | 8,560 | 3,043 | |
Alphatec Holdings, Inc. (a)(b) | 2,443 | 4,764 | |
Analogic Corp. (b) | 5,719 | 411,196 | |
Angiodynamics, Inc. (a) | 17,124 | 258,230 | |
Anika Therapeutics, Inc. (a)(b) | 7,705 | 356,510 | |
Antares Pharma, Inc. (a) | 67,433 | 163,862 | |
Atossa Genetics, Inc. (a) | 289 | 133 | |
Atricure, Inc. (a)(b) | 15,072 | 314,854 | |
Atrion Corp. | 875 | 482,694 | |
Avinger, Inc. (a)(b) | 8,085 | 4,290 | |
AxoGen, Inc. (a)(b) | 15,846 | 235,313 | |
Bellerophon Therapeutics, Inc. (a)(b) | 18,047 | 24,003 | |
BioLase Technology, Inc. (a)(b) | 32,685 | 36,280 | |
Cardiovascular Systems, Inc. (a) | 14,826 | 445,225 | |
Cerus Corp. (a)(b) | 45,986 | 105,308 | |
Cesca Therapeutics, Inc. (a)(b) | 5,298 | 16,159 | |
Chembio Diagnostics, Inc. (a)(b) | 7,945 | 52,437 | |
Chf Solutions, Inc. (a) | 487 | 282 | |
Cogentix Medical, Inc. (a) | 21,892 | 35,903 | |
ConforMis, Inc. (a)(b) | 21,066 | 85,317 | |
CONMED Corp. | 13,711 | 696,107 | |
Cutera, Inc. (a) | 6,383 | 145,532 | |
CytoSorbents Corp. (a)(b) | 13,598 | 57,112 | |
Delcath Systems, Inc. (a) | 0 | 0 | |
Dentsply Sirona, Inc. | 104,545 | 6,640,698 | |
DexCom, Inc. (a)(b) | 38,481 | 2,572,070 | |
Dextera Surgical, Inc. (a) | 2,691 | 500 | |
EDAP TMS SA sponsored ADR (a)(b) | 10,586 | 28,053 | |
Ekso Bionics Holdings, Inc. (a)(b) | 9,233 | 9,602 | |
Endologix, Inc. (a)(b) | 40,267 | 194,087 | |
Entellus Medical, Inc. (a)(b) | 9,899 | 131,954 | |
EnteroMedics, Inc. (a)(b) | 3,373 | 17,742 | |
Exactech, Inc. (a) | 7,276 | 220,463 | |
Fonar Corp. (a) | 3,665 | 92,725 | |
Genmark Diagnostics, Inc. (a)(b) | 23,342 | 302,045 | |
Hologic, Inc. (a) | 126,069 | 5,460,048 | |
ICU Medical, Inc. (a) | 8,903 | 1,436,054 | |
IDEXX Laboratories, Inc. (a) | 39,864 | 6,712,699 | |
Inogen, Inc. (a) | 9,282 | 822,756 | |
Insulet Corp. (a) | 25,467 | 1,068,850 | |
Integra LifeSciences Holdings Corp. (a) | 34,518 | 1,737,981 | |
Intuitive Surgical, Inc. (a) | 17,551 | 16,053,549 | |
InVivo Therapeutics Holdings Corp. (a)(b) | 11,305 | 22,045 | |
Invuity, Inc. (a)(b) | 8,464 | 61,787 | |
IRadimed Corp. (a) | 4,579 | 37,319 | |
iRhythm Technologies, Inc. | 10,178 | 352,973 | |
Iridex Corp. (a)(b) | 4,918 | 44,213 | |
K2M Group Holdings, Inc. (a) | 18,796 | 427,609 | |
Kewaunee Scientific Corp. | 1,882 | 43,192 | |
Lantheus Holdings, Inc. (a) | 17,222 | 285,885 | |
LeMaitre Vascular, Inc. | 8,657 | 264,558 | |
Lianluo Smart Ltd. (a) | 837 | 1,138 | |
LivaNova PLC (a) | 21,777 | 1,237,805 | |
Lombard Medical, Inc. (a) | 1,819 | 873 | |
Masimo Corp. (a) | 22,979 | 2,000,092 | |
Mazor Robotics Ltd. sponsored ADR (a)(b) | 5,896 | 244,153 | |
Meridian Bioscience, Inc. (b) | 19,834 | 273,709 | |
Merit Medical Systems, Inc. (a) | 22,131 | 785,651 | |
Microbot Medical, Inc. (a)(b) | 11,752 | 53,119 | |
Misonix, Inc. (a)(b) | 4,210 | 44,626 | |
Natus Medical, Inc. (a) | 14,535 | 492,737 | |
Neogen Corp. (a)(b) | 17,589 | 1,113,208 | |
Neovasc, Inc. (a)(b) | 32,189 | 46,466 | |
Novadaq Technologies, Inc. (a)(b) | 26,701 | 184,504 | |
Novocure Ltd. (a)(b) | 41,007 | 514,638 | |
NuVasive, Inc. (a)(b) | 22,292 | 1,672,569 | |
Nuvectra Corp. (a) | 5,013 | 48,325 | |
NxStage Medical, Inc. (a) | 29,239 | 633,317 | |
Obalon Therapeutics, Inc. (b) | 8,656 | 80,414 | |
OraSure Technologies, Inc. (a) | 27,658 | 416,806 | |
Orthofix International NV (a) | 8,219 | 342,486 | |
Oxford Immunotec Global PLC (a)(b) | 13,166 | 184,324 | |
PhotoMedex, Inc. (a) | 379 | 538 | |
Pulse Biosciences, Inc. (b) | 6,881 | 196,728 | |
Quidel Corp. (a)(b) | 17,042 | 422,982 | |
Quotient Ltd. (a)(b) | 18,545 | 137,789 | |
ReWalk Robotics Ltd. (a)(b) | 5,150 | 5,923 | |
Rockwell Medical Technologies, Inc. (a)(b) | 21,813 | 156,181 | |
Roka Bioscience, Inc. (a) | 282 | 759 | |
RTI Biologics, Inc. (a) | 28,247 | 145,472 | |
Seaspine Holdings Corp. (a) | 6,763 | 67,562 | |
Second Sight Medical Products, Inc. (a)(b) | 34,457 | 39,626 | |
Sientra, Inc. (a)(b) | 10,706 | 80,188 | |
Span-America Medical System, Inc. | 1,766 | 51,126 | |
Staar Surgical Co. (a)(b) | 19,008 | 173,923 | |
STRATA Skin Sciences, Inc. (a) | 62 | 160 | |
SurModics, Inc. (a) | 5,619 | 137,104 | |
Synergetics U.S.A., Inc. (a)(b) | 7,788 | 1,480 | |
Syneron Medical Ltd. (a) | 14,426 | 157,243 | |
Tactile Systems Technology, Inc. (b) | 8,222 | 200,041 | |
Tandem Diabetes Care, Inc. (a)(b) | 10,614 | 8,441 | |
TearLab Corp. (a)(b) | 827 | 1,629 | |
The Spectranetics Corp. (a)(b) | 20,573 | 555,471 | |
Trinity Biotech PLC sponsored ADR (a)(b) | 15,441 | 86,933 | |
Utah Medical Products, Inc. | 2,157 | 144,950 | |
Vermillion, Inc. (a)(b) | 26,233 | 44,858 | |
ViewRay, Inc. (a)(b) | 24,042 | 157,475 | |
Viveve Medical, Inc. (b) | 9,403 | 67,137 | |
Wright Medical Group NV (a)(b) | 46,222 | 1,235,052 | |
Zosano Pharma Corp. (a)(b) | 19,165 | 28,173 | |
72,304,087 | |||
Health Care Providers & Services - 0.9% | |||
Acadia Healthcare Co., Inc. (a)(b) | 39,267 | 1,623,298 | |
Aceto Corp. | 13,111 | 185,521 | |
Addus HomeCare Corp. (a) | 5,391 | 200,006 | |
Alliance Healthcare Services, Inc. (a) | 5,543 | 73,445 | |
Almost Family, Inc. (a)(b) | 6,345 | 364,203 | |
Amedisys, Inc. (a)(b) | 15,049 | 901,736 | |
BioScrip, Inc. (a)(b) | 56,176 | 101,679 | |
BioTelemetry, Inc. (a) | 12,429 | 358,577 | |
Caladrius Biosciences, Inc. (a)(b) | 2,086 | 9,721 | |
Corvel Corp. (a) | 9,270 | 431,982 | |
Cross Country Healthcare, Inc. (a) | 19,216 | 221,945 | |
Digirad Corp. | 12,246 | 47,759 | |
Express Scripts Holding Co. (a) | 274,789 | 16,418,643 | |
Five Star Sr Living, Inc. (a) | 17,859 | 32,146 | |
HealthEquity, Inc. (a)(b) | 27,157 | 1,243,791 | |
Henry Schein, Inc. (a) | 35,792 | 6,584,654 | |
iKang Healthcare Group, Inc. sponsored ADR (a)(b) | 21,619 | 331,419 | |
Interpace Diagnostics Group, Inc. (a) | 171 | 323 | |
LHC Group, Inc. (a) | 8,510 | 512,302 | |
LifePoint Hospitals, Inc. (a) | 17,824 | 1,083,699 | |
Magellan Health Services, Inc. (a) | 10,491 | 721,256 | |
National Research Corp.: | |||
Class A | 12,218 | 293,232 | |
Class B | 369 | 17,454 | |
Patterson Companies, Inc. (b) | 43,931 | 1,939,993 | |
Premier, Inc. (a) | 23,648 | 816,329 | |
Providence Service Corp. (a) | 5,708 | 266,792 | |
Psychemedics Corp. | 2,537 | 52,491 | |
R1 RCM, Inc. (a) | 54,816 | 195,693 | |
RadNet, Inc. (a) | 28,838 | 207,634 | |
Sharps Compliance Corp. (a)(b) | 5,820 | 23,629 | |
Surgery Partners, Inc. (a)(b) | 22,806 | 497,171 | |
The Ensign Group, Inc. | 24,432 | 449,060 | |
The Joint Corp. (a)(b) | 5,488 | 21,568 | |
Tivity Health, Inc. (a)(b) | 16,017 | 543,777 | |
VCA, Inc. (a) | 36,570 | 3,369,194 | |
40,142,122 | |||
Health Care Technology - 0.4% | |||
Allscripts Healthcare Solutions, Inc. (a) | 80,739 | 921,232 | |
athenahealth, Inc. (a)(b) | 18,030 | 2,415,659 | |
Cerner Corp. (a)(b) | 149,350 | 9,760,023 | |
Computer Programs & Systems, Inc. (b) | 8,135 | 271,709 | |
Connecture, Inc. (a)(b) | 5,953 | 5,001 | |
Fulgent Genetics, Inc. (b) | 8,707 | 53,722 | |
HealthStream, Inc. (a)(b) | 14,558 | 405,731 | |
HMS Holdings Corp. (a) | 37,663 | 686,220 | |
iCAD, Inc. (a) | 7,155 | 33,128 | |
Inovalon Holdings, Inc. Class A (a)(b) | 34,510 | 469,336 | |
Medidata Solutions, Inc. (a)(b) | 26,161 | 1,862,140 | |
NantHealth, Inc. (b) | 56,236 | 173,769 | |
Omnicell, Inc. (a)(b) | 16,974 | 677,263 | |
Quality Systems, Inc. (a) | 26,366 | 404,982 | |
Simulations Plus, Inc. | 8,998 | 109,776 | |
Streamline Health Solutions, Inc. (a) | 5,177 | 6,264 | |
Tabula Rasa HealthCare, Inc. | 7,205 | 95,466 | |
18,351,421 | |||
Life Sciences Tools & Services - 0.7% | |||
Accelerate Diagnostics, Inc. (a)(b) | 23,643 | 659,640 | |
Albany Molecular Research, Inc. (a)(b) | 18,996 | 369,662 | |
Bio-Techne Corp. | 16,964 | 1,901,325 | |
Bruker Corp. | 74,631 | 2,030,710 | |
Champions Oncology, Inc. (a)(b) | 7,123 | 17,166 | |
ChromaDex, Inc. (a)(b) | 14,893 | 48,849 | |
Compugen Ltd. (a)(b) | 29,133 | 139,838 | |
Fluidigm Corp. (a)(b) | 15,450 | 69,989 | |
Harvard Bioscience, Inc. (a) | 16,454 | 37,844 | |
ICON PLC (a)(b) | 24,636 | 2,318,248 | |
Illumina, Inc. (a) | 66,306 | 11,760,032 | |
INC Research Holdings, Inc. Class A (a) | 24,419 | 1,388,220 | |
Luminex Corp. (b) | 19,328 | 391,585 | |
Medpace Holdings, Inc. (b) | 18,082 | 503,041 | |
Nanostring Technologies, Inc. (a) | 11,987 | 219,842 | |
NeoGenomics, Inc. (a)(b) | 39,321 | 297,267 | |
Pacific Biosciences of California, Inc. (a)(b) | 40,574 | 133,894 | |
PAREXEL International Corp. (a) | 22,906 | 1,851,263 | |
PRA Health Sciences, Inc. (a) | 27,740 | 2,004,215 | |
pSivida Corp. (a) | 15,200 | 34,504 | |
QIAGEN NV (a) | 102,307 | 3,433,423 | |
VWR Corp. (a) | 59,311 | 1,960,822 | |
31,571,379 | |||
Pharmaceuticals - 0.9% | |||
Acasti Pharma, Inc. (a) | 1,813 | 2,284 | |
AcelRx Pharmaceuticals, Inc. (a)(b) | 24,352 | 60,880 | |
Achaogen, Inc. (a)(b) | 16,124 | 325,382 | |
Aclaris Therapeutics, Inc. (a)(b) | 12,574 | 299,010 | |
Adamis Pharmaceuticals Corp. (a)(b) | 15,605 | 60,079 | |
Aerie Pharmaceuticals, Inc. (a)(b) | 15,279 | 847,221 | |
Agile Therapeutics, Inc. (a)(b) | 10,487 | 34,397 | |
Akorn, Inc. (a) | 56,800 | 1,889,736 | |
Alcobra Pharma Ltd. (a)(b) | 11,033 | 12,357 | |
Alimera Sciences, Inc. (a)(b) | 32,140 | 45,639 | |
Amphastar Pharmaceuticals, Inc. (a)(b) | 20,885 | 356,507 | |
ANI Pharmaceuticals, Inc. (a)(b) | 5,532 | 241,693 | |
ANI Pharmaceuticals, Inc. rights (a) | 1,389 | 0 | |
Apricus Biosciences, Inc. (a)(b) | 929 | 855 | |
Aralez Pharmaceuticals, Inc. (a)(b) | 28,175 | 35,501 | |
Aratana Therapeutics, Inc. (a)(b) | 19,628 | 113,057 | |
Assembly Biosciences, Inc. (a)(b) | 8,041 | 204,322 | |
AstraZeneca PLC rights (a) | 3,011 | 0 | |
Auris Medical Holding AG (a)(b) | 12,197 | 7,380 | |
Avexis, Inc. (a)(b) | 12,453 | 881,050 | |
Axsome Therapeutics, Inc. (a)(b) | 11,637 | 44,802 | |
BeyondSpring, Inc. | 9,157 | 319,579 | |
Bio Path Holdings, Inc. (a)(b) | 31,477 | 11,017 | |
Biodelivery Sciences International, Inc. (a)(b) | 25,909 | 57,000 | |
Cardiome Pharma Corp. (a)(b) | 12,238 | 50,371 | |
Cempra, Inc. (a) | 23,618 | 89,748 | |
Clearside Biomedical, Inc. (b) | 11,815 | 81,287 | |
Collegium Pharmaceutical, Inc. (a)(b) | 13,791 | 113,362 | |
Concordia International Corp. (a)(b) | 15,887 | 20,733 | |
ContraVir Pharmaceuticals, Inc. (a)(b) | 30,793 | 18,815 | |
Corcept Therapeutics, Inc. (a)(b) | 50,800 | 574,548 | |
Corium International, Inc. (a)(b) | 13,811 | 103,030 | |
Cumberland Pharmaceuticals, Inc. (a) | 7,820 | 53,997 | |
CymaBay Therapeutics, Inc. (a)(b) | 15,586 | 76,371 | |
DepoMed, Inc. (a)(b) | 29,235 | 306,383 | |
Dermira, Inc. (a)(b) | 18,505 | 507,407 | |
Durect Corp. (a)(b) | 68,611 | 84,392 | |
Egalet Corp. (a)(b) | 9,167 | 19,617 | |
Endo International PLC (a) | 101,309 | 1,335,253 | |
Endocyte, Inc. (a)(b) | 24,909 | 63,518 | |
Evoke Pharma, Inc. (a) | 7,184 | 17,601 | |
Flamel Technologies SA sponsored ADR (a) | 22,874 | 225,766 | |
Flex Pharma, Inc. (a)(b) | 6,410 | 22,499 | |
Foamix Pharmaceuticals Ltd. (a)(b) | 19,970 | 88,068 | |
Gemphire Therapeutics, Inc. | 5,967 | 59,073 | |
GW Pharmaceuticals PLC ADR (a)(b) | 10,477 | 1,033,137 | |
Heska Corp. (a) | 3,419 | 337,319 | |
Horizon Pharma PLC (a) | 72,581 | 725,810 | |
Hutchison China Meditech Ltd. sponsored ADR (a) | 5,636 | 119,652 | |
Impax Laboratories, Inc. (a) | 33,496 | 510,814 | |
Imprimis Pharmaceuticals, Inc. (a)(b) | 10,102 | 31,518 | |
Innocoll Holdings PLC (a)(b) | 9,257 | 19,903 | |
Innoviva, Inc. (a)(b) | 50,595 | 618,271 | |
IntelliPharmaCeutics International Corp. (a)(b) | 13,756 | 26,136 | |
Intersect ENT, Inc. (a) | 12,708 | 321,512 | |
Intra-Cellular Therapies, Inc. (a)(b) | 20,667 | 211,837 | |
Jazz Pharmaceuticals PLC (a) | 27,201 | 3,959,378 | |
Juniper Pharmaceuticals, Inc. (a) | 6,485 | 27,886 | |
KemPharm, Inc. (a)(b) | 8,237 | 35,831 | |
Lipocine, Inc. (a)(b) | 9,996 | 36,685 | |
Marinus Pharmaceuticals, Inc. (a)(b) | 8,484 | 9,841 | |
MediWound Ltd. (a) | 10,429 | 72,482 | |
Merus B.V. | 9,402 | 182,023 | |
Mylan N.V. (a) | 243,056 | 9,474,323 | |
MyoKardia, Inc. (a)(b) | 16,084 | 207,484 | |
Nabriva Therapeutics AG sponsored ADR (a) | 9,632 | 101,136 | |
Nektar Therapeutics (a) | 68,738 | 1,366,511 | |
Neos Therapeutics, Inc. (a)(b) | 12,688 | 106,579 | |
NeuroDerm Ltd. (a)(b) | 12,374 | 295,120 | |
Novan, Inc. (b) | 6,522 | 32,284 | |
Novus Therapeutics, Inc. (a)(b) | 1,117 | 5,719 | |
ObsEva SA (b) | 5,205 | 43,566 | |
Ocera Therapeutics, Inc. (a)(b) | 5,923 | 6,397 | |
Ocular Therapeutix, Inc. (a)(b) | 14,053 | 143,341 | |
Omeros Corp. (a)(b) | 19,837 | 299,737 | |
Oncobiologics, Inc. (a) | 11,165 | 16,971 | |
Oramed Pharmaceuticals, Inc. (a)(b) | 5,254 | 42,820 | |
Orexigen Therapeutics, Inc. (a)(b) | 4,379 | 12,524 | |
Pacira Pharmaceuticals, Inc. (a) | 16,830 | 747,252 | |
Pain Therapeutics, Inc. (a)(b) | 2,571 | 9,641 | |
Paratek Pharmaceuticals, Inc. (a)(b) | 12,912 | 258,886 | |
Pernix Therapeutics Holdings, Inc. (a)(b) | 4,587 | 16,926 | |
Phibro Animal Health Corp. Class A | 8,993 | 317,003 | |
Plx Pharma PLC/New (a) | 501 | 2,931 | |
ProPhase Labs, Inc. (a) | 1,566 | 3,022 | |
Pulmatrix, Inc. (a)(b) | 7,937 | 20,160 | |
Reata Pharmaceuticals, Inc. (b) | 6,752 | 186,558 | |
RedHill Biopharma Ltd. sponsored ADR (a)(b) | 8,242 | 77,310 | |
Repros Therapeutics, Inc. (a) | 10,497 | 4,934 | |
Revance Therapeutics, Inc. (a)(b) | 15,098 | 335,931 | |
SciClone Pharmaceuticals, Inc. (a) | 28,530 | 271,035 | |
SCYNEXIS, Inc. (a)(b) | 9,903 | 15,746 | |
Sucampo Pharmaceuticals, Inc. Class A (a)(b) | 22,009 | 220,090 | |
Supernus Pharmaceuticals, Inc. (a) | 22,583 | 849,121 | |
Teligent, Inc. (a)(b) | 31,553 | 261,259 | |
Tetraphase Pharmaceuticals, Inc. (a) | 15,665 | 107,932 | |
The Medicines Company (a)(b) | 31,842 | 1,266,356 | |
Theravance Biopharma, Inc. (a)(b) | 23,385 | 853,553 | |
Titan Pharmaceuticals, Inc. (a)(b) | 7,882 | 18,523 | |
VIVUS, Inc. (a) | 53,961 | 61,516 | |
WAVE Life Sciences (a)(b) | 13,451 | 254,224 | |
Zogenix, Inc. (a)(b) | 11,379 | 144,513 | |
Zynerba Pharmaceuticals, Inc. (a)(b) | 6,159 | 114,742 | |
36,615,298 | |||
TOTAL HEALTH CARE | 508,764,337 | ||
INDUSTRIALS - 4.2% | |||
Aerospace & Defense - 0.1% | |||
AeroVironment, Inc. (a)(b) | 13,006 | 403,706 | |
Arotech Corp. (a)(b) | 12,878 | 42,819 | |
Astronics Corp. (a) | 9,894 | 302,756 | |
Astrotech Corp. (a) | 3,584 | 3,871 | |
Axon Enterprise, Inc. (a)(b) | 23,650 | 567,837 | |
Elbit Systems Ltd. (b) | 20,103 | 2,456,185 | |
Innovative Solutions & Support, Inc. (a) | 1,668 | 6,672 | |
KEYW Holding Corp. (a)(b) | 20,907 | 192,553 | |
KLX, Inc. (a) | 22,783 | 1,102,469 | |
Kratos Defense & Security Solutions, Inc. (a)(b) | 26,904 | 291,101 | |
LMI Aerospace, Inc. (a) | 7,254 | 101,048 | |
Mercury Systems, Inc. (a)(b) | 21,644 | 860,782 | |
TAT Technologies Ltd. | 4,822 | 58,105 | |
6,389,904 | |||
Air Freight & Logistics - 0.3% | |||
Air Transport Services Group, Inc. (a) | 26,870 | 640,850 | |
Atlas Air Worldwide Holdings, Inc. (a) | 11,250 | 547,875 | |
C.H. Robinson Worldwide, Inc. (b) | 64,119 | 4,296,614 | |
Echo Global Logistics, Inc. (a)(b) | 13,301 | 248,064 | |
Expeditors International of Washington, Inc. (b) | 81,242 | 4,336,698 | |
Forward Air Corp. | 15,536 | 809,892 | |
Hub Group, Inc. Class A (a) | 14,854 | 532,516 | |
Park-Ohio Holdings Corp. | 6,160 | 228,536 | |
11,641,045 | |||
Airlines - 0.6% | |||
Allegiant Travel Co. (b) | 7,537 | 1,032,569 | |
American Airlines Group, Inc. (b) | 228,579 | 11,065,509 | |
Hawaiian Holdings, Inc. (a) | 24,549 | 1,229,905 | |
JetBlue Airways Corp. (a) | 151,614 | 3,399,186 | |
Ryanair Holdings PLC sponsored ADR (a) | 46,990 | 5,015,713 | |
SkyWest, Inc. (b) | 23,428 | 803,580 | |
Spirit Airlines, Inc. (a) | 31,774 | 1,687,199 | |
24,233,661 | |||
Building Products - 0.1% | |||
AAON, Inc. (b) | 24,922 | 901,553 | |
American Woodmark Corp. (a) | 7,145 | 663,056 | |
Apogee Enterprises, Inc. (b) | 12,853 | 684,808 | |
Builders FirstSource, Inc. (a) | 49,413 | 674,982 | |
Caesarstone Sdot-Yam Ltd. (a) | 15,386 | 577,744 | |
China Ceramics Co. Ltd. (a) | 187 | 266 | |
CSW Industrials, Inc. (a) | 8,474 | 299,132 | |
Gibraltar Industries, Inc. (a) | 14,548 | 452,443 | |
Insteel Industries, Inc. (b) | 8,597 | 273,041 | |
Patrick Industries, Inc. (a) | 7,543 | 499,347 | |
Tecogen, Inc. New (a)(b) | 3,759 | 12,705 | |
Universal Forest Products, Inc. | 9,389 | 825,575 | |
5,864,652 | |||
Commercial Services & Supplies - 0.5% | |||
Aqua Metals, Inc. (a)(b) | 8,064 | 95,720 | |
Casella Waste Systems, Inc. Class A (a) | 19,202 | 269,212 | |
CECO Environmental Corp. | 16,382 | 153,991 | |
China Recycling Energy Corp. (a) | 1,607 | 2,443 | |
Cintas Corp. | 47,501 | 5,979,426 | |
Copart, Inc. (a)(b) | 104,086 | 3,246,442 | |
Essendant, Inc. | 16,228 | 261,271 | |
Fuel Tech, Inc. (a) | 2,055 | 1,808 | |
Healthcare Services Group, Inc. | 33,454 | 1,601,443 | |
Heritage-Crystal Clean, Inc. (a) | 9,635 | 146,934 | |
Herman Miller, Inc. | 27,967 | 882,359 | |
Hudson Technologies, Inc. (a) | 20,528 | 167,508 | |
Industrial Services of America, Inc. (a) | 694 | 895 | |
InnerWorkings, Inc. (a)(b) | 33,653 | 364,799 | |
Interface, Inc. | 30,400 | 624,720 | |
Intersections, Inc. (a) | 11,661 | 55,623 | |
Kimball International, Inc. Class B | 16,798 | 288,590 | |
MagneGas Corp. (a) | 2,363 | 4,348 | |
Matthews International Corp. Class A | 15,214 | 969,893 | |
McGrath RentCorp. | 10,561 | 350,308 | |
Mobile Mini, Inc. | 18,967 | 531,076 | |
Multi-Color Corp. (b) | 8,310 | 713,829 | |
Odyssey Marine Exploration, Inc. (a)(b) | 4,993 | 15,928 | |
Performant Financial Corp. (a)(b) | 21,509 | 47,750 | |
Perma-Fix Environmental Services, Inc. (a) | 973 | 3,357 | |
Pointer Telocation Ltd. (a) | 5,282 | 54,405 | |
Quest Resource Holding Corp. (a)(b) | 3,836 | 9,743 | |
SP Plus Corp. (a) | 12,220 | 360,490 | |
Stericycle, Inc. (a)(b) | 38,537 | 3,151,170 | |
Tetra Tech, Inc. | 25,457 | 1,169,749 | |
U.S. Ecology, Inc. | 10,215 | 511,005 | |
Virco Manufacturing Co. (a) | 1,086 | 4,941 | |
VSE Corp. | 5,520 | 230,957 | |
West Corp. | 39,829 | 922,838 | |
23,194,971 | |||
Construction & Engineering - 0.0% | |||
Aegion Corp. (a) | 16,735 | 331,186 | |
Great Lakes Dredge & Dock Corp. (a) | 28,252 | 117,246 | |
Ies Holdings, Inc. (a) | 9,715 | 149,125 | |
Layne Christensen Co. (a)(b) | 7,238 | 52,620 | |
Limbach Holdings, Inc. (a) | 4,323 | 50,190 | |
MYR Group, Inc. (a) | 7,084 | 207,986 | |
Northwest Pipe Co. (a) | 3,691 | 52,634 | |
NV5 Holdings, Inc. (a)(b) | 4,878 | 179,023 | |
Primoris Services Corp. | 24,544 | 569,421 | |
Sterling Construction Co., Inc. (a) | 14,670 | 149,341 | |
1,858,772 | |||
Electrical Equipment - 0.1% | |||
Allied Motion Technologies, Inc. | 4,240 | 106,763 | |
American Superconductor Corp. (a)(b) | 6,555 | 27,007 | |
Ballard Power Systems, Inc. (a)(b) | 85,699 | 236,634 | |
Broadwind Energy, Inc. (a) | 6,588 | 32,281 | |
Capstone Turbine Corp. (a)(b) | 4,970 | 3,032 | |
Encore Wire Corp. | 8,765 | 362,433 | |
Energous Corp. (a)(b) | 9,632 | 148,622 | |
Energy Focus, Inc. (a)(b) | 4,044 | 13,022 | |
Enphase Energy, Inc. (a)(b) | 27,458 | 20,868 | |
FuelCell Energy, Inc. (a)(b) | 31,827 | 30,691 | |
Highpower International, Inc. (a) | 10,264 | 48,241 | |
Hydrogenics Corp. (a)(b) | 5,242 | 37,480 | |
Ideal Power, Inc. (a)(b) | 3,212 | 8,255 | |
LSI Industries, Inc. | 9,643 | 85,148 | |
Orion Energy Systems, Inc. (a)(b) | 11,781 | 16,258 | |
Pioneer Power Solutions, Inc. (a)(b) | 3,776 | 26,432 | |
Plug Power, Inc. (a)(b) | 101,798 | 189,344 | |
Polar Power, Inc. | 5,654 | 29,344 | |
Powell Industries, Inc. | 5,826 | 191,850 | |
Preformed Line Products Co. | 2,182 | 104,736 | |
Revolution Lighting Technologies, Inc. (a)(b) | 5,784 | 45,462 | |
Sunrun, Inc. (a)(b) | 44,411 | 223,831 | |
TPI Composites, Inc. | 16,176 | 275,316 | |
Ultralife Corp. (a) | 6,195 | 39,648 | |
Vicor Corp. (a) | 14,767 | 250,301 | |
2,552,999 | |||
Industrial Conglomerates - 0.1% | |||
Icahn Enterprises LP | 73,121 | 3,487,872 | |
Raven Industries, Inc. | 17,087 | 578,395 | |
4,066,267 | |||
Machinery - 0.7% | |||
Altra Industrial Motion Corp. | 13,235 | 571,752 | |
American Railcar Industries, Inc. (b) | 8,375 | 297,229 | |
ARC Group Worldwide, Inc. (a)(b) | 7,999 | 27,597 | |
Astec Industries, Inc. | 10,402 | 582,200 | |
Blue Bird Corp. (a)(b) | 11,500 | 209,875 | |
Chart Industries, Inc. (a) | 13,550 | 465,443 | |
Cleantech Solutions International, Inc. (a) | 50 | 190 | |
Columbus McKinnon Corp. (NY Shares) | 9,732 | 271,912 | |
Commercial Vehicle Group, Inc. (a) | 15,164 | 122,525 | |
Dmc Global, Inc. | 5,844 | 73,927 | |
Eastern Co. | 3,496 | 106,453 | |
Energy Recovery, Inc. (a)(b) | 22,605 | 171,572 | |
ExOne Co. (a)(b) | 7,539 | 99,213 | |
Franklin Electric Co., Inc. | 21,709 | 829,284 | |
FreightCar America, Inc. | 5,386 | 90,269 | |
Gencor Industries, Inc. (a) | 7,041 | 114,064 | |
Hardinge, Inc. | 5,437 | 65,788 | |
Hebron Technology Co. Ltd. (b) | 4,198 | 15,952 | |
Hurco Companies, Inc. | 4,119 | 119,863 | |
Jason Industries, Inc. (a) | 6,627 | 8,880 | |
Key Technology, Inc. (a) | 3,081 | 39,591 | |
Kornit Digital Ltd. (a)(b) | 15,114 | 253,160 | |
L.B. Foster Co. Class A | 4,257 | 76,413 | |
Lincoln Electric Holdings, Inc. (b) | 29,752 | 2,659,234 | |
Manitex International, Inc. (a) | 6,059 | 43,504 | |
MFRI, Inc. (a) | 997 | 7,727 | |
Middleby Corp. (a) | 26,111 | 3,351,608 | |
NN, Inc. | 11,794 | 337,308 | |
Nordson Corp. | 25,924 | 3,004,073 | |
Omega Flex, Inc. | 4,795 | 293,550 | |
PACCAR, Inc. | 158,974 | 10,009,003 | |
RBC Bearings, Inc. (a)(b) | 10,659 | 1,079,970 | |
Spartan Motors, Inc. | 16,587 | 142,648 | |
Sun Hydraulics Corp. (b) | 13,090 | 560,121 | |
Taylor Devices, Inc. (a) | 1,597 | 21,176 | |
TriMas Corp. (a) | 20,227 | 440,949 | |
Twin Disc, Inc. (a) | 6,093 | 109,065 | |
Westport Fuel Systems, Inc. (a)(b) | 26,542 | 41,936 | |
Woodward, Inc. | 27,928 | 1,902,455 | |
28,617,479 | |||
Marine - 0.0% | |||
Diana Containerships, Inc. (b) | 2,026 | 723 | |
DryShips, Inc. (b) | 2,326 | 5,536 | |
Eagle Bulk Shipping, Inc. (a) | 35,240 | 165,276 | |
Euroseas Ltd. (a)(b) | 273 | 352 | |
Globus Maritime Ltd. (a)(b) | 12,830 | 14,883 | |
Golden Ocean Group Ltd. (a)(b) | 51,090 | 288,659 | |
Rand Logistics, Inc. (a) | 1,744 | 1,064 | |
Seanergy Martime Holdings Corp. (a)(b) | 5,859 | 3,627 | |
Star Bulk Carriers Corp. (a)(b) | 26,793 | 212,736 | |
692,856 | |||
Professional Services - 0.5% | |||
51job, Inc. sponsored ADR (a)(b) | 12,597 | 549,103 | |
Acacia Research Corp. (a) | 23,599 | 93,216 | |
Advisory Board Co. (a) | 18,261 | 944,094 | |
Barrett Business Services, Inc. | 3,450 | 196,892 | |
Cogint, Inc. (a)(b) | 26,534 | 143,284 | |
CRA International, Inc. | 3,435 | 118,748 | |
Exponent, Inc. (b) | 11,388 | 675,308 | |
Heidrick & Struggles International, Inc. | 8,594 | 185,201 | |
Hudson Global, Inc. | 2,817 | 4,028 | |
Huron Consulting Group, Inc. (a) | 10,488 | 435,776 | |
ICF International, Inc. (a) | 8,762 | 412,252 | |
IHS Markit Ltd. (a) | 196,823 | 9,024,335 | |
Kelly Services, Inc. Class A (non-vtg.) | 18,345 | 426,154 | |
Kforce, Inc. | 11,114 | 200,052 | |
Lightbridge Corp. (a)(b) | 441 | 851 | |
Marathon Patent Group, Inc. (a)(b) | 6,000 | 1,321 | |
Pendrell Corp. (a) | 12,615 | 76,068 | |
RCM Technologies, Inc. (a) | 3,957 | 21,566 | |
Resources Connection, Inc. | 12,622 | 158,406 | |
RPX Corp. (a) | 23,785 | 314,913 | |
Spherix, Inc. (a)(b) | 18,182 | 18,909 | |
Verisk Analytics, Inc. (a) | 75,325 | 6,093,039 | |
Willdan Group, Inc. (a) | 3,790 | 126,093 | |
20,219,609 | |||
Road & Rail - 0.9% | |||
AMERCO (b) | 9,025 | 3,332,481 | |
ArcBest Corp. | 10,427 | 196,028 | |
Avis Budget Group, Inc. (a)(b) | 37,946 | 868,584 | |
Covenant Transport Group, Inc. Class A (a) | 7,574 | 139,513 | |
CSX Corp. | 419,764 | 22,738,616 | |
Heartland Express, Inc. (b) | 37,945 | 738,030 | |
Hennessy Capital Acquisition Corp. II (a) | 18,134 | 171,185 | |
J.B. Hunt Transport Services, Inc. | 50,099 | 4,277,453 | |
Landstar System, Inc. | 18,826 | 1,572,912 | |
Marten Transport Ltd. | 15,913 | 393,847 | |
Old Dominion Freight Lines, Inc. | 37,140 | 3,317,345 | |
P.A.M. Transportation Services, Inc. (a) | 3,754 | 66,221 | |
Patriot Transportation Holding, Inc. (a) | 659 | 12,587 | |
Saia, Inc. (a) | 11,423 | 527,743 | |
Student Transportation, Inc. (b) | 46,229 | 277,542 | |
U.S.A. Truck, Inc. (a)(b) | 3,742 | 24,660 | |
Universal Logistics Holdings, Inc. | 15,385 | 212,313 | |
Werner Enterprises, Inc. (b) | 32,792 | 893,582 | |
YRC Worldwide, Inc. (a)(b) | 12,778 | 117,430 | |
39,878,072 | |||
Trading Companies & Distributors - 0.3% | |||
Beacon Roofing Supply, Inc. (a) | 26,706 | 1,288,030 | |
BMC Stock Holdings, Inc. (a)(b) | 30,538 | 595,491 | |
DXP Enterprises, Inc. (a) | 7,792 | 279,187 | |
Fastenal Co. (b) | 131,192 | 5,663,559 | |
General Finance Corp. (a) | 12,327 | 63,484 | |
H&E Equipment Services, Inc. | 16,682 | 331,805 | |
HD Supply Holdings, Inc. (a) | 90,419 | 3,648,407 | |
Houston Wire & Cable Co. | 7,080 | 46,020 | |
Huttig Building Products, Inc. (a) | 14,315 | 91,616 | |
Lawson Products, Inc. (a) | 3,661 | 77,979 | |
Nexeo Solutions, Inc. (a)(b) | 43,193 | 380,098 | |
Rush Enterprises, Inc.: | |||
Class A (a) | 13,003 | 466,158 | |
Class B (a) | 4,596 | 151,530 | |
Titan Machinery, Inc. (a)(b) | 10,211 | 172,055 | |
Transcat, Inc. (a) | 3,442 | 41,820 | |
Willis Lease Finance Corp. (a) | 2,622 | 68,487 | |
13,365,726 | |||
Transportation Infrastructure - 0.0% | |||
Grupo Aeroportuario Norte S.A.B. de CV ADR (b) | 2,853 | 123,107 | |
Yangtze River Development Ltd. (a)(b) | 32,185 | 379,783 | |
502,890 | |||
TOTAL INDUSTRIALS | 183,078,903 | ||
INFORMATION TECHNOLOGY - 48.8% | |||
Communications Equipment - 2.4% | |||
ADTRAN, Inc. | 21,497 | 413,817 | |
Applied Optoelectronics, Inc. (a)(b) | 8,651 | 604,013 | |
Arris International PLC (a) | 84,924 | 2,381,269 | |
AudioCodes Ltd. (a) | 14,232 | 94,216 | |
Aviat Networks, Inc. (a) | 2,287 | 40,045 | |
Bel Fuse, Inc.: | |||
Class A | 300 | 5,517 | |
Class B (non-vtg.) | 5,466 | 131,184 | |
Black Box Corp. | 7,594 | 62,271 | |
Brocade Communications Systems, Inc. | 174,497 | 2,203,897 | |
CalAmp Corp. (a)(b) | 15,959 | 301,625 | |
Ceragon Networks Ltd. (a) | 36,506 | 107,328 | |
Cisco Systems, Inc. | 2,270,065 | 71,575,149 | |
Clearfield, Inc. (a)(b) | 8,676 | 113,222 | |
ClearOne, Inc. | 2,453 | 24,285 | |
CommScope Holding Co., Inc. (a) | 87,960 | 3,253,640 | |
Communications Systems, Inc. | 2,071 | 9,340 | |
Comtech Telecommunications Corp. | 10,513 | 151,703 | |
Dasan Zhone Solutions, Inc. (a) | 3,510 | 20,920 | |
Digi International, Inc. (a) | 13,084 | 124,952 | |
DragonWave, Inc. (a) | 609 | 451 | |
EchoStar Holding Corp. Class A (a) | 21,062 | 1,243,711 | |
EMCORE Corp. | 13,673 | 137,414 | |
EXFO, Inc. (sub. vtg.) (a) | 8,342 | 40,449 | |
Extreme Networks, Inc. (a) | 48,672 | 468,711 | |
F5 Networks, Inc. (a) | 29,311 | 3,755,618 | |
Finisar Corp. (a)(b) | 49,642 | 1,224,172 | |
Gilat Satellite Networks Ltd. (a)(b) | 23,036 | 112,646 | |
Harmonic, Inc. (a)(b) | 36,590 | 184,780 | |
Infinera Corp. (a)(b) | 67,427 | 655,390 | |
InterDigital, Inc. | 15,327 | 1,241,487 | |
Ituran Location & Control Ltd. (a) | 11,254 | 362,379 | |
KVH Industries, Inc. (a) | 9,269 | 87,592 | |
Lantronix, Inc. (a) | 8,577 | 21,014 | |
Lumentum Holdings, Inc. (a) | 27,714 | 1,581,084 | |
Mitel Networks Corp. (a)(b) | 54,974 | 389,766 | |
MRV Communications, Inc. (a) | 3,804 | 33,856 | |
NETGEAR, Inc. (a) | 14,967 | 627,866 | |
NetScout Systems, Inc. (a)(b) | 41,395 | 1,515,057 | |
Oclaro, Inc. (a)(b) | 75,513 | 670,555 | |
Parkervision, Inc. (a)(b) | 9,416 | 21,186 | |
PC-Tel, Inc. | 8,979 | 57,645 | |
Radcom Ltd. (a)(b) | 6,573 | 134,747 | |
Radware Ltd. (a) | 20,525 | 361,445 | |
Resonant, Inc. (a)(b) | 5,889 | 25,499 | |
ShoreTel, Inc. (a) | 32,506 | 188,535 | |
Sierra Wireless, Inc. (a) | 14,134 | 383,052 | |
Silicom Ltd. | 3,732 | 190,220 | |
Sonus Networks, Inc. (a) | 23,742 | 160,259 | |
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR (b) | 152,969 | 1,107,496 | |
Tessco Technologies, Inc. | 5,197 | 72,238 | |
Ubiquiti Networks, Inc. (a)(b) | 36,725 | 1,731,951 | |
UTStarcom Holdings Corp. (a) | 21,290 | 46,625 | |
ViaSat, Inc. (a)(b) | 26,057 | 1,700,219 | |
Viavi Solutions, Inc. (a) | 103,279 | 1,159,823 | |
Westell Technologies, Inc. Class A (a) | 16,462 | 12,116 | |
Wi-Lan, Inc. | 55,676 | 77,897 | |
103,403,344 | |||
Electronic Equipment& Components - 1.1% | |||
Agilysys, Inc. (a) | 12,807 | 126,917 | |
Applied DNA Sciences, Inc. (a)(b) | 6,250 | 7,969 | |
Cardtronics PLC | 20,663 | 707,708 | |
CDW Corp. | 72,699 | 4,375,026 | |
China BAK Battery, Inc. (a)(b) | 782 | 1,056 | |
ClearSign Combustion Corp. (a)(b) | 5,845 | 21,334 | |
Cognex Corp. | 38,958 | 3,565,047 | |
Coherent, Inc. (a) | 11,113 | 2,757,691 | |
Control4 Corp. (a) | 11,000 | 218,350 | |
CUI Global, Inc. (a)(b) | 7,874 | 28,819 | |
Daktronics, Inc. | 25,031 | 248,558 | |
Data I/O Corp. (a) | 4,617 | 36,844 | |
Deswell Industries, Inc. | 1,530 | 2,953 | |
Digital Ally, Inc. (a)(b) | 8,452 | 30,850 | |
Echelon Corp. (a) | 3,473 | 23,790 | |
Electro Scientific Industries, Inc. (a) | 16,544 | 138,308 | |
ePlus, Inc. (a) | 6,200 | 488,250 | |
FARO Technologies, Inc. (a)(b) | 9,207 | 319,943 | |
Flextronics International Ltd. (a) | 242,162 | 4,179,716 | |
FLIR Systems, Inc. | 62,048 | 2,350,999 | |
Frequency Electronics, Inc. (a) | 4,423 | 43,655 | |
Hollysys Automation Technologies Ltd. (b) | 26,938 | 430,739 | |
I. D. Systems Inc. (a)(b) | 7,502 | 49,588 | |
Identiv, Inc. (a) | 5,445 | 30,111 | |
II-VI, Inc. (a) | 28,702 | 861,060 | |
Insight Enterprises, Inc. (a) | 15,895 | 660,278 | |
IPG Photonics Corp. (a)(b) | 24,347 | 3,385,207 | |
Iteris, Inc. (a) | 15,658 | 88,937 | |
Itron, Inc. (a) | 17,513 | 1,184,754 | |
KEY Tronic Corp. (a) | 4,924 | 33,335 | |
Kimball Electronics, Inc. (a) | 15,326 | 266,672 | |
LightPath Technologies, Inc. Class A (a)(b) | 12,016 | 36,288 | |
Littelfuse, Inc. | 10,212 | 1,653,833 | |
LRAD Corp. | 9,621 | 16,548 | |
Luna Innovations, Inc. (a) | 10,388 | 15,894 | |
Magal Security Systems Ltd. (a)(b) | 11,406 | 53,494 | |
Maxwell Technologies, Inc. (a) | 16,295 | 94,348 | |
Mesa Laboratories, Inc. (b) | 1,916 | 299,547 | |
MicroVision, Inc. (a)(b) | 27,688 | 54,545 | |
MOCON, Inc. | 2,300 | 68,885 | |
MTS Systems Corp. (b) | 7,701 | 399,297 | |
Napco Security Technolgies, Inc. (a) | 11,119 | 106,186 | |
National Instruments Corp. (b) | 58,056 | 2,214,836 | |
Neonode, Inc. (a)(b) | 20,179 | 24,618 | |
NetList, Inc. (a)(b) | 25,631 | 33,064 | |
Novanta, Inc. (a) | 15,898 | 540,532 | |
Orbotech Ltd. (a) | 21,971 | 783,925 | |
OSI Systems, Inc. (a) | 8,500 | 673,115 | |
PC Connection, Inc. | 12,843 | 334,945 | |
PC Mall, Inc. (a)(b) | 5,580 | 109,926 | |
Perceptron, Inc. (a) | 6,823 | 51,309 | |
Plexus Corp. (a) | 15,314 | 796,022 | |
RadiSys Corp. (a) | 22,276 | 83,981 | |
Research Frontiers, Inc. (a)(b) | 7,119 | 7,617 | |
Richardson Electronics Ltd. | 6,648 | 40,154 | |
RMG Networks Holding Corp. (a) | 27,670 | 18,262 | |
Sanmina Corp. (a) | 34,368 | 1,257,869 | |
ScanSource, Inc. (a) | 11,521 | 437,798 | |
Supercom Ltd. (a)(b) | 7,335 | 20,318 | |
Tech Data Corp. (a)(b) | 16,733 | 1,622,599 | |
Trimble, Inc. (a) | 114,427 | 4,123,949 | |
TTM Technologies, Inc. (a)(b) | 44,754 | 726,805 | |
Uni-Pixel, Inc. (a)(b) | 10,946 | 4,542 | |
Universal Display Corp. (b) | 21,268 | 2,411,791 | |
Wayside Technology Group, Inc. | 2,644 | 54,202 | |
Zebra Technologies Corp. Class A (a)(b) | 23,779 | 2,481,101 | |
48,316,609 | |||
Internet Software & Services - 13.5% | |||
21Vianet Group, Inc. ADR (a)(b) | 40,282 | 215,509 | |
2U, Inc. (a)(b) | 21,213 | 906,856 | |
Actua Corp. (a) | 16,045 | 224,630 | |
Akamai Technologies, Inc. (a) | 78,561 | 3,704,151 | |
Alarm.com Holdings, Inc. (a) | 21,294 | 693,120 | |
Alphabet, Inc.: | |||
Class A (a) | 134,790 | 133,049,861 | |
Class C (a) | 157,239 | 151,713,622 | |
Angie's List, Inc. (a)(b) | 27,317 | 328,897 | |
AppFolio, Inc. (a) | 7,171 | 205,449 | |
Apptio, Inc. Class A | 4,451 | 73,531 | |
Autobytel, Inc. (a) | 4,883 | 61,477 | |
Baidu.com, Inc. sponsored ADR (a) | 124,818 | 23,228,630 | |
Baozun, Inc. sponsored ADR (a)(b) | 12,818 | 263,410 | |
Bazaarvoice, Inc. (a) | 42,926 | 195,313 | |
Benefitfocus, Inc. (a)(b) | 14,647 | 465,775 | |
BlackLine, Inc. (b) | 23,780 | 802,813 | |
Blucora, Inc. (a) | 19,253 | 394,687 | |
Brightcove, Inc. (a) | 14,157 | 84,234 | |
BroadVision, Inc. (a) | 599 | 2,396 | |
Carbonite, Inc. (a) | 12,222 | 227,329 | |
China Finance Online Co. Ltd. ADR (a)(b) | 8,455 | 17,164 | |
ChinaCache International Holdings Ltd. sponsored ADR (a)(b) | 7,308 | 6,723 | |
Cimpress NV (a)(b) | 14,299 | 1,263,174 | |
CommerceHub, Inc.: | |||
Series A (a)(b) | 16,565 | 281,936 | |
Series C (a) | 3,920 | 67,346 | |
Cornerstone OnDemand, Inc. (a) | 25,561 | 954,959 | |
CoStar Group, Inc. (a) | 14,845 | 3,883,007 | |
Coupa Software, Inc. (b) | 22,530 | 770,977 | |
Criteo SA sponsored ADR (a)(b) | 27,645 | 1,449,427 | |
Cyren Ltd. (a) | 19,323 | 43,477 | |
Determine, Inc. (a) | 245 | 862 | |
eBay, Inc. (a) | 492,828 | 16,904,000 | |
eGain Communications Corp. (a)(b) | 14,431 | 23,090 | |
Endurance International Group Holdings, Inc. (a)(b) | 69,356 | 523,638 | |
Facebook, Inc. Class A (a) | 1,067,713 | 161,715,811 | |
Five9, Inc. (a) | 24,592 | 552,582 | |
Functionx, Inc. (a) | 123 | 78 | |
Global Sources Ltd. (a) | 14,393 | 300,814 | |
Gogo, Inc. (a)(b) | 39,777 | 514,317 | |
Hortonworks, Inc. (a)(b) | 27,621 | 341,396 | |
IAC/InterActiveCorp (a) | 32,506 | 3,456,688 | |
Internap Network Services Corp. (a)(b) | 36,298 | 121,961 | |
iPass, Inc. (a) | 28,524 | 41,645 | |
j2 Global, Inc. (b) | 21,931 | 1,855,801 | |
Jmu Ltd. sponsored ADR (a)(b) | 6,361 | 10,750 | |
Limelight Networks, Inc. (a) | 51,157 | 150,913 | |
Liquidity Services, Inc. (a) | 12,876 | 79,831 | |
LivePerson, Inc. (a) | 27,391 | 261,584 | |
LogMeIn, Inc. | 23,868 | 2,649,348 | |
Marchex, Inc. Class B (a)(b) | 21,411 | 60,165 | |
Match Group, Inc. (a)(b) | 20,573 | 400,762 | |
MaxPoint Interactive, Inc. (a) | 4,353 | 30,210 | |
MeetMe, Inc. (a)(b) | 30,230 | 139,965 | |
MercadoLibre, Inc. | 20,016 | 5,506,602 | |
Mimecast Ltd. (a) | 25,037 | 671,492 | |
MINDBODY, Inc. (a)(b) | 16,702 | 468,491 | |
Momo, Inc. ADR (a) | 35,494 | 1,350,192 | |
My Size, Inc. (a)(b) | 8,696 | 11,131 | |
Net Element International, Inc. (a)(b) | 909 | 682 | |
NetEase, Inc. ADR | 34,046 | 9,695,620 | |
NIC, Inc. | 31,951 | 647,008 | |
NumereX Corp. Class A (a)(b) | 9,528 | 39,351 | |
Nutanix, Inc. Class A (a)(b) | 22,485 | 419,345 | |
Perion Network Ltd. (a)(b) | 36,786 | 63,272 | |
Points International Ltd. (a)(b) | 7,506 | 72,658 | |
Professional Diversity Network, Inc. (a) | 1,922 | 15,914 | |
QuinStreet, Inc. (a) | 20,389 | 79,211 | |
Qumu Corp. (a) | 2,780 | 7,979 | |
RealNetworks, Inc. (a) | 22,028 | 91,416 | |
Reis, Inc. | 7,075 | 133,718 | |
Remark Holdings, Inc. (a)(b) | 12,825 | 36,038 | |
Rightside Group Ltd. (a) | 11,154 | 101,613 | |
Rocket Fuel, Inc. (a)(b) | 21,656 | 65,618 | |
SecureWorks Corp. (a)(b) | 6,170 | 67,130 | |
SINA Corp. (b) | 32,112 | 3,146,013 | |
Sohu.com, Inc. (a)(b) | 18,709 | 839,847 | |
SPS Commerce, Inc. (a) | 8,133 | 473,015 | |
Stamps.com, Inc. (a)(b) | 7,722 | 1,064,864 | |
Support.com, Inc. (a) | 17,947 | 43,611 | |
Synacor, Inc. (a)(b) | 19,246 | 66,399 | |
TechTarget, Inc. (a) | 17,648 | 160,597 | |
The Trade Desk, Inc. | 8,197 | 450,835 | |
Travelzoo, Inc. (a) | 7,583 | 78,484 | |
TrueCar, Inc. (a)(b) | 36,682 | 644,870 | |
Tucows, Inc. (a)(b) | 5,097 | 293,587 | |
VeriSign, Inc. (a)(b) | 46,559 | 4,197,759 | |
Web.com Group, Inc. (a) | 22,896 | 520,884 | |
WebMD Health Corp. (a)(b) | 17,345 | 970,973 | |
Weibo Corp. sponsored ADR (a)(b) | 25,767 | 1,894,648 | |
Wix.com Ltd. (a) | 19,199 | 1,414,966 | |
Xunlei Ltd. sponsored ADR (a)(b) | 16,359 | 57,257 | |
Yahoo!, Inc. (a) | 432,138 | 21,745,184 | |
Yandex NV Series A (a) | 126,255 | 3,343,232 | |
Yatra Online, Inc. (a)(b) | 16,653 | 152,541 | |
YY, Inc. ADR (a)(b) | 15,878 | 926,323 | |
Zillow Group, Inc.: | |||
Class A (a)(b) | 27,069 | 1,188,058 | |
Class C (a)(b) | 51,546 | 2,243,282 | |
581,177,801 | |||
IT Services - 2.6% | |||
Acxiom Corp. (a) | 35,282 | 924,388 | |
ALJ Regional Holdings, Inc. (a)(b) | 15,043 | 50,845 | |
Amdocs Ltd. | 66,605 | 4,314,672 | |
Automatic Data Processing, Inc. | 203,435 | 20,825,641 | |
Blackhawk Network Holdings, Inc. (a) | 25,013 | 1,084,314 | |
CardConnect Corp. (a)(b) | 15,225 | 228,375 | |
Cass Information Systems, Inc. | 5,996 | 367,195 | |
China Customer Relations Centers, Inc. (a)(b) | 7,958 | 126,691 | |
China Information Technology, Inc. (a)(b) | 20,266 | 19,861 | |
Cognizant Technology Solutions Corp. Class A | 274,953 | 18,397,105 | |
Computer Task Group, Inc. | 10,776 | 59,484 | |
CSG Systems International, Inc. | 14,610 | 582,793 | |
CSP, Inc. | 2,505 | 27,229 | |
Edgewater Technology, Inc. (a) | 6,041 | 42,952 | |
Euronet Worldwide, Inc. (a) | 23,490 | 2,049,033 | |
ExlService Holdings, Inc. (a) | 16,678 | 873,427 | |
Fiserv, Inc. (a) | 96,632 | 12,106,057 | |
Forrester Research, Inc. | 9,343 | 368,114 | |
Hackett Group, Inc. | 13,892 | 203,657 | |
Information Services Group, Inc. (a)(b) | 21,642 | 78,993 | |
Innodata, Inc. (a) | 1,720 | 3,268 | |
Inpixon (a) | 175 | 350 | |
Jack Henry & Associates, Inc. | 35,316 | 3,750,912 | |
JetPay Corp. (a) | 3,116 | 6,232 | |
ManTech International Corp. Class A | 11,486 | 439,914 | |
Mattersight Corp. (a)(b) | 20,265 | 53,702 | |
ModusLink Global Solutions, Inc. (a)(b) | 36,789 | 62,909 | |
MoneyGram International, Inc. (a) | 23,760 | 413,899 | |
NCI, Inc. Class A (a) | 6,465 | 123,482 | |
Net 1 UEPS Technologies, Inc. (a) | 28,273 | 262,373 | |
Paychex, Inc. | 162,725 | 9,638,202 | |
PayPal Holdings, Inc. (a) | 547,312 | 28,575,160 | |
Perficient, Inc. (a) | 18,414 | 318,010 | |
PFSweb, Inc. (a) | 9,371 | 64,754 | |
Planet Payment, Inc. (a) | 31,069 | 107,188 | |
Presidio, Inc. | 39,592 | 608,529 | |
PRG-Schultz International, Inc. (a) | 12,608 | 84,474 | |
QIWI PLC Class B sponsored ADR | 20,732 | 479,117 | |
Sabre Corp. (b) | 125,452 | 2,813,888 | |
ServiceSource International, Inc. (a) | 43,365 | 150,043 | |
Sykes Enterprises, Inc. (a) | 22,421 | 747,292 | |
Syntel, Inc. (b) | 37,820 | 661,094 | |
Teletech Holdings, Inc. | 21,573 | 917,931 | |
Virtusa Corp. (a) | 13,249 | 384,486 | |
113,398,035 | |||
Semiconductors & Semiconductor Equipment - 9.7% | |||
Acacia Communications, Inc. (b) | 17,201 | 809,135 | |
Adesto Technologies Corp. (a)(b) | 6,015 | 29,173 | |
Advanced Energy Industries, Inc. (a) | 17,594 | 1,353,506 | |
Advanced Micro Devices, Inc. (a)(b) | 425,947 | 4,766,347 | |
AEHR Test Systems (a) | 13,180 | 60,364 | |
Alpha & Omega Semiconductor Ltd. (a) | 14,815 | 275,855 | |
Ambarella, Inc. (a)(b) | 15,170 | 888,052 | |
Amkor Technology, Inc. (a) | 107,689 | 1,221,193 | |
Amtech Systems, Inc. (a) | 7,143 | 57,644 | |
Analog Devices, Inc. | 166,690 | 14,295,334 | |
Applied Materials, Inc. | 487,816 | 22,380,998 | |
ASML Holding NV (b) | 31,226 | 4,121,520 | |
Atomera, Inc. (b) | 6,089 | 27,644 | |
Axcelis Technologies, Inc. (a) | 13,514 | 293,930 | |
AXT, Inc. (a) | 15,506 | 103,115 | |
Broadcom Ltd. | 181,809 | 43,539,619 | |
Brooks Automation, Inc. | 31,554 | 869,313 | |
Cabot Microelectronics Corp. | 10,965 | 827,748 | |
Camtek Ltd. (a) | 16,454 | 104,154 | |
Canadian Solar, Inc. (a)(b) | 25,656 | 328,653 | |
Cavium, Inc. (a) | 30,677 | 2,238,501 | |
Ceva, Inc. (a)(b) | 9,516 | 402,051 | |
ChipMOS TECHNOLOGIES, Inc. sponsored ADR | 10,118 | 204,282 | |
Cirrus Logic, Inc. (a) | 28,878 | 1,904,504 | |
Cohu, Inc. | 13,514 | 247,712 | |
Cree, Inc. (a) | 43,904 | 1,046,891 | |
CVD Equipment Corp. (a)(b) | 3,218 | 37,940 | |
CyberOptics Corp. (a) | 2,498 | 54,831 | |
Cypress Semiconductor Corp. (b) | 146,137 | 2,044,457 | |
Diodes, Inc. (a) | 23,633 | 605,241 | |
DSP Group, Inc. (a) | 10,444 | 123,761 | |
Entegris, Inc. (a) | 64,170 | 1,584,999 | |
Experi Corp. | 22,351 | 685,058 | |
First Solar, Inc. (a)(b) | 47,154 | 1,815,901 | |
FormFactor, Inc. (a) | 32,758 | 481,543 | |
GSI Technology, Inc. (a) | 9,353 | 76,788 | |
Hanwha Solarone Co. Ltd. sponsored ADR (a)(b) | 2,413 | 17,229 | |
Himax Technologies, Inc. sponsored ADR (b) | 50,546 | 346,746 | |
Ichor Holdings Ltd. | 11,068 | 259,877 | |
Impinj, Inc. (b) | 9,284 | 405,247 | |
Integrated Device Technology, Inc. (a) | 59,607 | 1,524,747 | |
Intel Corp. | 2,143,806 | 77,412,835 | |
Intermolecular, Inc. (a)(b) | 16,622 | 15,108 | |
IXYS Corp. | 18,005 | 265,574 | |
JA Solar Holdings Co. Ltd. ADR (a)(b) | 23,353 | 160,669 | |
KLA-Tencor Corp. | 70,908 | 7,374,432 | |
Kopin Corp. (a)(b) | 35,617 | 122,879 | |
Kulicke & Soffa Industries, Inc. (a) | 32,745 | 725,302 | |
Lam Research Corp. (b) | 73,528 | 11,409,340 | |
Lattice Semiconductor Corp. (a) | 58,906 | 409,397 | |
M/A-COM Technology Solutions Holdings, Inc. (a)(b) | 28,659 | 1,747,339 | |
Marvell Technology Group Ltd. | 230,099 | 3,966,907 | |
Maxim Integrated Products, Inc. | 128,614 | 6,147,749 | |
Mellanox Technologies Ltd. (a)(b) | 22,286 | 1,058,585 | |
Microchip Technology, Inc. (b) | 97,751 | 8,142,658 | |
Micron Technology, Inc. (a) | 499,507 | 15,369,830 | |
Microsemi Corp. (a) | 51,504 | 2,529,361 | |
MKS Instruments, Inc. | 23,582 | 1,927,829 | |
Monolithic Power Systems, Inc. | 18,490 | 1,815,718 | |
MoSys, Inc. (a)(b) | 1,755 | 1,158 | |
Nanometrics, Inc. (a) | 11,968 | 332,710 | |
Nova Measuring Instruments Ltd. (a) | 13,245 | 324,238 | |
NVE Corp. | 2,819 | 222,532 | |
NVIDIA Corp. | 256,897 | 37,083,082 | |
NXP Semiconductors NV (a) | 156,503 | 17,199,680 | |
O2Micro International Ltd. sponsored ADR (a) | 13,662 | 28,144 | |
ON Semiconductor Corp. (a) | 189,588 | 2,934,822 | |
PDF Solutions, Inc. (a)(b) | 14,500 | 235,480 | |
Photronics, Inc. (a) | 28,696 | 288,395 | |
Pixelworks, Inc. (a)(b) | 14,146 | 70,164 | |
Power Integrations, Inc. | 14,370 | 962,072 | |
Qorvo, Inc. (a)(b) | 57,274 | 4,464,508 | |
Qualcomm, Inc. | 669,682 | 38,352,688 | |
QuickLogic Corp. (a)(b) | 32,535 | 39,367 | |
Rambus, Inc. (a) | 55,237 | 654,006 | |
Rubicon Technology, Inc. (a)(b) | 534 | 5,340 | |
SemiLEDs Corp. (a) | 200 | 586 | |
Semtech Corp. (a) | 31,054 | 1,186,263 | |
Sevcon, Inc. (a)(b) | 3,281 | 48,657 | |
Sigma Designs, Inc. (a) | 15,696 | 98,100 | |
Silicon Laboratories, Inc. (a) | 18,859 | 1,410,653 | |
Silicon Motion Technology Corp. sponsored ADR (b) | 15,751 | 822,990 | |
Siliconware Precision Industries Co. Ltd. sponsored ADR (b) | 30,079 | 251,460 | |
Skyworks Solutions, Inc. | 83,795 | 8,918,302 | |
SolarEdge Technologies, Inc. (a) | 18,544 | 344,918 | |
SPI Energy Co. Ltd. sponsored ADR (a)(b) | 21,564 | 29,758 | |
SunPower Corp. (a)(b) | 65,341 | 514,234 | |
Sunworks, Inc. (a)(b) | 9,585 | 15,815 | |
Synaptics, Inc. (a)(b) | 16,267 | 903,795 | |
Texas Instruments, Inc. | 452,634 | 37,337,779 | |
Tower Semiconductor Ltd. (a)(b) | 43,752 | 1,109,551 | |
Ultra Clean Holdings, Inc. (a) | 14,301 | 326,635 | |
Veeco Instruments, Inc. (a) | 22,382 | 703,914 | |
Xcerra Corp. (a) | 29,613 | 287,542 | |
Xilinx, Inc. | 112,799 | 7,524,821 | |
418,097,274 | |||
Software - 10.4% | |||
8x8, Inc. (a) | 43,094 | 588,233 | |
ACI Worldwide, Inc. (a)(b) | 53,328 | 1,219,078 | |
Activision Blizzard, Inc. | 340,925 | 19,971,387 | |
Adobe Systems, Inc. (a) | 223,594 | 31,719,045 | |
Allot Communications Ltd. (a) | 18,186 | 91,294 | |
American Software, Inc. Class A | 11,793 | 126,657 | |
ANSYS, Inc. (a) | 38,699 | 4,888,845 | |
Aspen Technology, Inc. (a) | 33,530 | 2,050,695 | |
Asure Software, Inc. (a) | 4,066 | 63,023 | |
Atlassian Corp. PLC (a)(b) | 34,138 | 1,220,775 | |
Attunity Ltd. (a) | 7,466 | 51,814 | |
Autodesk, Inc. (a) | 100,695 | 11,254,680 | |
Aware, Inc. (a) | 11,224 | 54,436 | |
Blackbaud, Inc. (b) | 21,227 | 1,756,110 | |
Bottomline Technologies, Inc. (a) | 17,448 | 436,374 | |
BroadSoft, Inc. (a)(b) | 13,906 | 556,240 | |
BSQUARE Corp. (a) | 4,329 | 21,861 | |
CA Technologies, Inc. | 189,562 | 6,022,385 | |
Cadence Design Systems, Inc. (a) | 126,193 | 4,434,422 | |
Callidus Software, Inc. (a) | 29,530 | 705,767 | |
CDK Global, Inc. (b) | 65,412 | 4,020,222 | |
Changyou.com Ltd. (A Shares) ADR (a)(b) | 8,437 | 328,706 | |
Check Point Software Technologies Ltd. (a)(b) | 77,699 | 8,706,173 | |
Citrix Systems, Inc. (a) | 70,881 | 5,850,518 | |
CommVault Systems, Inc. (a) | 20,349 | 1,142,088 | |
CounterPath Corp. (a) | 952 | 1,914 | |
Covisint Corp. (a) | 20,413 | 41,847 | |
CyberArk Software Ltd. (a)(b) | 14,892 | 729,857 | |
Datawatch Corp. (a) | 4,467 | 37,076 | |
Descartes Systems Group, Inc. (a) | 37,024 | 925,840 | |
Digimarc Corp. (a)(b) | 6,258 | 218,091 | |
Digital Turbine, Inc. (a)(b) | 32,983 | 36,611 | |
Ebix, Inc. (b) | 14,856 | 822,280 | |
Electronic Arts, Inc. (a) | 139,712 | 15,833,561 | |
EnerNOC, Inc. (a)(b) | 12,962 | 70,643 | |
Everbridge, Inc. | 12,412 | 320,974 | |
Evolving Systems, Inc. | 7,319 | 39,157 | |
Exa Corp. (a) | 6,624 | 92,007 | |
FalconStor Software, Inc. (a) | 4,107 | 1,088 | |
FireEye, Inc. (a)(b) | 79,553 | 1,192,499 | |
Form Holdings Corp. (a)(b) | 8,159 | 14,033 | |
Fortinet, Inc. (a) | 78,453 | 3,086,341 | |
Glu Mobile, Inc. (a) | 63,428 | 161,107 | |
Gravity Co. Ltd. ADR (a) | 934 | 17,989 | |
Gridsum Holding, Inc. ADR | 5,295 | 64,864 | |
Guidance Software, Inc. (a) | 17,066 | 109,393 | |
Imperva, Inc. (a) | 14,887 | 735,418 | |
Inseego Corp. (a)(b) | 31,331 | 31,958 | |
Intuit, Inc. | 115,990 | 16,312,834 | |
Jive Software, Inc. (a) | 32,701 | 172,498 | |
Magic Software Enterprises Ltd. | 21,539 | 174,466 | |
Manhattan Associates, Inc. (a) | 31,497 | 1,475,319 | |
Materialise NV ADR (a)(b) | 6,225 | 79,618 | |
Microsoft Corp. | 3,503,823 | 244,706,998 | |
MicroStrategy, Inc. Class A (a) | 4,177 | 761,718 | |
Mitek Systems, Inc. (a) | 13,957 | 108,865 | |
MobileIron, Inc. (a) | 43,976 | 237,470 | |
Monotype Imaging Holdings, Inc. | 20,410 | 399,016 | |
NetSol Technologies, Inc. (a) | 5,108 | 20,687 | |
NICE Systems Ltd. sponsored ADR (b) | 18,794 | 1,464,241 | |
Nuance Communications, Inc. (a) | 132,243 | 2,447,818 | |
NXT-ID, Inc. (a)(b) | 787 | 1,243 | |
Open Text Corp. | 120,031 | 3,917,657 | |
Parametric Technology Corp. (a) | 52,097 | 2,999,745 | |
Park City Group, Inc. (a)(b) | 9,653 | 120,663 | |
Paylocity Holding Corp. (a)(b) | 23,131 | 1,083,687 | |
Pegasystems, Inc. | 34,760 | 2,031,722 | |
Polarityte, Inc. (a)(b) | 2,379 | 44,154 | |
Progress Software Corp. | 21,641 | 631,917 | |
Proofpoint, Inc. (a)(b) | 19,588 | 1,684,568 | |
QAD, Inc. Class A | 9,296 | 302,585 | |
Qualys, Inc. (a) | 16,526 | 694,092 | |
Rapid7, Inc. (a)(b) | 19,435 | 356,827 | |
RealPage, Inc. (a) | 36,142 | 1,250,513 | |
Sapiens International Corp. NV (b) | 26,001 | 322,672 | |
SeaChange International, Inc. (a) | 20,866 | 51,122 | |
SITO Mobile Ltd. (a)(b) | 11,960 | 48,438 | |
Smith Micro Software, Inc. (a) | 735 | 786 | |
Sonic Foundry, Inc. (a)(b) | 478 | 1,965 | |
Sphere 3D Corp. (a)(b) | 24,109 | 2,977 | |
Splunk, Inc. (a)(b) | 61,329 | 3,755,788 | |
SS&C Technologies Holdings, Inc. | 92,325 | 3,469,574 | |
Symantec Corp. | 279,303 | 8,465,674 | |
Synchronoss Technologies, Inc. (a)(b) | 21,095 | 269,594 | |
Synopsys, Inc. (a) | 67,579 | 5,059,640 | |
Take-Two Interactive Software, Inc. (a)(b) | 38,860 | 2,982,116 | |
Talend SA ADR | 4,146 | 135,864 | |
TeleNav, Inc. (a) | 23,693 | 193,098 | |
The9 Ltd. sponsored ADR (a) | 6,231 | 5,670 | |
TiVo Corp. | 55,568 | 989,110 | |
Top Image Systems Ltd. (a) | 2,532 | 3,469 | |
Ultimate Software Group, Inc. (a)(b) | 13,491 | 2,978,003 | |
Upland Software, Inc. (a) | 8,828 | 196,335 | |
Varonis Systems, Inc. (a) | 11,827 | 429,911 | |
Vasco Data Security International, Inc. (a) | 17,327 | 237,380 | |
Verint Systems, Inc. (a) | 28,788 | 1,183,187 | |
Zix Corp. (a) | 23,272 | 134,279 | |
Zynga, Inc. (a) | 348,346 | 1,226,178 | |
447,489,127 | |||
Technology Hardware, Storage & Peripherals - 9.1% | |||
Apple, Inc. | 2,379,014 | 363,418,120 | |
Astro-Med, Inc. | 3,663 | 51,099 | |
Avid Technology, Inc. (a)(b) | 21,480 | 111,911 | |
BlackBerry Ltd. (a)(b) | 241,263 | 2,550,421 | |
China TechFaith Wireless Communication Technology Ltd. sponsored ADR (a) | 356 | 815 | |
Concurrent Computer Corp. | 5,268 | 35,401 | |
CPI Card Group (b) | 24,070 | 46,937 | |
Cray, Inc. (a)(b) | 18,429 | 327,115 | |
Electronics for Imaging, Inc. (a) | 20,668 | 980,077 | |
Everspin Technologies, Inc. (b) | 8,041 | 144,577 | |
Immersion Corp. (a)(b) | 15,151 | 128,784 | |
Intevac, Inc. (a) | 9,781 | 131,065 | |
Logitech International SA (b) | 73,701 | 2,687,875 | |
NetApp, Inc. | 122,571 | 4,962,900 | |
On Track Innovations Ltd. (a)(b) | 22,179 | 28,611 | |
Seagate Technology LLC (b) | 133,576 | 5,819,906 | |
Stratasys Ltd. (a)(b) | 24,388 | 656,037 | |
Super Micro Computer, Inc. (a)(b) | 22,005 | 541,323 | |
Transact Technologies, Inc. | 1,837 | 15,706 | |
U.S.A. Technologies, Inc. (a)(b) | 20,926 | 97,306 | |
Western Digital Corp. | 130,398 | 11,743,644 | |
394,479,630 | |||
TOTAL INFORMATION TECHNOLOGY | 2,106,361,820 | ||
MATERIALS - 0.5% | |||
Chemicals - 0.1% | |||
A. Schulman, Inc. | 12,216 | 357,929 | |
Advanced Emissions Solutions, Inc. (a)(b) | 9,725 | 91,221 | |
AgroFresh Solutions, Inc. (a)(b) | 26,011 | 182,857 | |
Balchem Corp. (b) | 14,618 | 1,150,729 | |
Burcon NutraScience Corp. (a) | 2,165 | 2,084 | |
Codexis, Inc. (a) | 24,321 | 97,284 | |
Fuwei Films Holdings Co. Ltd. (a) | 232 | 606 | |
Gulf Resources, Inc. (a)(b) | 18,051 | 31,950 | |
Hawkins, Inc. | 7,322 | 344,500 | |
Innophos Holdings, Inc. | 9,506 | 402,009 | |
Innospec, Inc. | 11,180 | 715,520 | |
Marrone Bio Innovations, Inc. (a)(b) | 19,941 | 22,932 | |
Methanex Corp. (b) | 39,693 | 1,637,261 | |
Northern Technologies International Corp. (a) | 492 | 8,118 | |
Senomyx, Inc. (a)(b) | 14,455 | 12,431 | |
Tantech Holdings Ltd. (a)(b) | 12,107 | 29,904 | |
Terravia Holdings, Inc. (a)(b) | 29,761 | 7,842 | |
Yield10 Bioscience, Inc. (a) | 456 | 2,353 | |
5,097,530 | |||
Construction Materials - 0.0% | |||
China Advanced Construction Materials Group, Inc. (a) | 135 | 317 | |
Forterra, Inc. (b) | 28,456 | 204,599 | |
Tecnoglass, Inc. (b) | 16,338 | 161,093 | |
U.S. Concrete, Inc. (a)(b) | 6,860 | 453,446 | |
United States Lime & Minerals, Inc. | 2,630 | 206,245 | |
1,025,700 | |||
Containers & Packaging - 0.1% | |||
Silgan Holdings, Inc. | 54,366 | 1,729,382 | |
UFP Technologies, Inc. (a) | 4,421 | 120,914 | |
1,850,296 | |||
Metals & Mining - 0.3% | |||
Century Aluminum Co. (a)(b) | 38,891 | 560,808 | |
China Natural Resources, Inc. (a)(b) | 11,233 | 26,622 | |
Ferroglobe PLC | 79,347 | 836,317 | |
Ferroglobe Representation & Warranty Insurance | 23,476 | 0 | |
Handy & Harman Ltd. (a) | 4,841 | 138,211 | |
Haynes International, Inc. (b) | 5,406 | 193,535 | |
Kaiser Aluminum Corp. | 7,627 | 628,160 | |
Mountain Province Diamonds, Inc. (a)(b) | 73,559 | 208,558 | |
Olympic Steel, Inc. | 4,194 | 69,075 | |
Pan American Silver Corp. | 69,785 | 1,217,050 | |
Pershing Gold Corp. (a)(b) | 17,038 | 46,855 | |
Randgold Resources Ltd. sponsored ADR (b) | 17,491 | 1,658,497 | |
Real Industries, Inc. (a)(b) | 11,150 | 31,220 | |
Royal Gold, Inc. (b) | 29,639 | 2,383,568 | |
Schnitzer Steel Industries, Inc. Class A | 11,511 | 222,162 | |
Silver Standard Resources, Inc. (a)(b) | 55,264 | 524,882 | |
Steel Dynamics, Inc. | 109,635 | 3,726,494 | |
Synalloy Corp. (a) | 4,836 | 56,823 | |
Universal Stainless & Alloy Products, Inc. (a) | 2,467 | 44,061 | |
12,572,898 | |||
Paper & Forest Products - 0.0% | |||
Mercer International, Inc. (SBI) | 28,198 | 328,507 | |
Pope Resources, Inc. LP | 1,780 | 131,097 | |
Rentech, Inc. (a) | 5,467 | 2,327 | |
461,931 | |||
TOTAL MATERIALS | 21,008,355 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
CareTrust (REIT), Inc. | 32,585 | 594,676 | |
Communications Sales & Leasing, Inc. | 80,042 | 2,001,850 | |
CyrusOne, Inc. | 39,870 | 2,243,086 | |
Equinix, Inc. | 32,457 | 14,313,862 | |
Gaming & Leisure Properties | 94,359 | 3,463,919 | |
Gladstone Commercial Corp. (b) | 15,194 | 309,350 | |
Gladstone Land Corp. | 5,578 | 62,585 | |
Global Self Storage, Inc. | 4,374 | 22,264 | |
Government Properties Income Trust (b) | 32,322 | 698,155 | |
Hospitality Properties Trust (SBI) | 75,271 | 2,176,837 | |
Lamar Advertising Co. Class A (b) | 37,768 | 2,644,138 | |
Potlatch Corp. | 18,388 | 841,251 | |
Retail Opportunity Investments Corp. | 52,165 | 1,030,780 | |
Sabra Health Care REIT, Inc. (b) | 28,393 | 665,248 | |
SBA Communications Corp. Class A (a) | 54,940 | 7,591,609 | |
Select Income REIT | 44,931 | 1,072,054 | |
Senior Housing Properties Trust (SBI) | 107,547 | 2,273,544 | |
Sotherly Hotels, Inc. | 7,917 | 51,777 | |
Wheeler REIT, Inc. (b) | 5,521 | 44,168 | |
42,101,153 | |||
Real Estate Management & Development - 0.0% | |||
Altisource Portfolio Solutions SA (a)(b) | 7,820 | 160,936 | |
China HGS Real Estate, Inc. (a)(b) | 10,514 | 18,294 | |
Colliers International Group, Inc. | 16,739 | 898,381 | |
Cresud S.A.C.I.F. y A. sponsored ADR | 18,279 | 369,967 | |
Elbit Imaging Ltd. (a) | 37 | 114 | |
FirstService Corp. | 16,103 | 1,007,414 | |
FRP Holdings, Inc. (a) | 5,064 | 213,194 | |
Griffin Industrial Realty, Inc. | 2,554 | 79,404 | |
Gyrodyne LLC (b) | 1,037 | 21,559 | |
Landmark Infrastructure Partners LP | 12,433 | 195,820 | |
Stratus Properties, Inc. | 4,283 | 117,997 | |
3,083,080 | |||
TOTAL REAL ESTATE | 45,184,233 | ||
TELECOMMUNICATION SERVICES - 0.9% | |||
Diversified Telecommunication Services - 0.1% | |||
Alaska Communication Systems Group, Inc. (a) | 28,590 | 62,898 | |
Atlantic Tele-Network, Inc. | 8,198 | 536,477 | |
B Communications Ltd. | 6,305 | 127,992 | |
Cogent Communications Group, Inc. | 21,895 | 862,663 | |
Consolidated Communications Holdings, Inc. (b) | 24,994 | 497,880 | |
FairPoint Communications, Inc. (a) | 15,763 | 226,987 | |
Frontier Communications Corp. (b) | 521,419 | 683,059 | |
General Communications, Inc. Class A (a) | 15,162 | 560,842 | |
Hawaiian Telcom Holdco, Inc. (a) | 5,699 | 143,159 | |
Internet Gold Golden Lines Ltd. (a) | 2,697 | 28,453 | |
Iridium Communications, Inc. (a)(b) | 44,902 | 444,530 | |
Lumos Networks Corp. (a) | 11,377 | 203,876 | |
magicJack VocalTec Ltd. (a)(b) | 10,455 | 66,389 | |
ORBCOMM, Inc. (a)(b) | 35,137 | 344,343 | |
PDVWireless, Inc. (a)(b) | 6,652 | 158,983 | |
Sify Technologies Ltd. sponsored ADR | 1,965 | 1,649 | |
Windstream Holdings, Inc. (b) | 83,169 | 353,468 | |
5,303,648 | |||
Wireless Telecommunication Services - 0.8% | |||
Airgain, Inc. (b) | 4,457 | 59,412 | |
Boingo Wireless, Inc. (a) | 17,559 | 282,173 | |
NII Holdings, Inc. (a)(b) | 39,544 | 22,461 | |
Partner Communications Co. Ltd. ADR (a) | 1,446 | 7,779 | |
Shenandoah Telecommunications Co. (b) | 22,362 | 685,395 | |
Spok Holdings, Inc. | 10,030 | 174,522 | |
T-Mobile U.S., Inc. (a) | 373,964 | 25,212,653 | |
VimpelCom Ltd. sponsored ADR | 609,463 | 2,364,716 | |
Vodafone Group PLC sponsored ADR (b) | 198,052 | 5,993,054 | |
34,802,165 | |||
TOTAL TELECOMMUNICATION SERVICES | 40,105,813 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.0% | |||
MGE Energy, Inc. | 15,981 | 1,040,363 | |
Otter Tail Corp. | 17,909 | 715,465 | |
Spark Energy, Inc. Class A, (b) | 2,916 | 127,867 | |
1,883,695 | |||
Gas Utilities - 0.0% | |||
Delta Natural Gas Co., Inc. | 3,357 | 100,744 | |
RGC Resources, Inc. | 3,685 | 90,614 | |
191,358 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
8Point3 Energy Partners LP | 13,237 | 180,553 | |
Atlantica Yield PLC (b) | 44,933 | 938,650 | |
Pattern Energy Group, Inc. (b) | 39,686 | 895,316 | |
TerraForm Global, Inc. (a) | 48,655 | 238,410 | |
Terraform Power, Inc. (a)(b) | 41,791 | 517,373 | |
VivoPower International PLC (a) | 1,500 | 5,190 | |
2,775,492 | |||
Water Utilities - 0.0% | |||
Artesian Resources Corp. Class A | 5,076 | 178,320 | |
Cadiz, Inc. (a)(b) | 9,697 | 146,910 | |
Connecticut Water Service, Inc. | 6,409 | 340,062 | |
Consolidated Water Co., Inc. | 6,259 | 74,169 | |
Global Water Resources, Inc. (b) | 9,461 | 89,690 | |
Middlesex Water Co. | 7,557 | 266,913 | |
Pure Cycle Corp. (a) | 11,638 | 90,776 | |
York Water Co. | 5,988 | 198,203 | |
1,385,043 | |||
TOTAL UTILITIES | 6,235,588 | ||
TOTAL COMMON STOCKS | |||
(Cost $3,061,320,955) | 4,230,500,501 | ||
Principal Amount | Value | ||
U.S. Treasury Obligations - 0.1% | |||
U.S. Treasury Bills, yield at date of purchase 0.55% 8/17/17 (d) | |||
(Cost $1,997,664) | 2,000,000 | 1,996,060 | |
Shares | Value | ||
Money Market Funds - 12.1% | |||
Fidelity Cash Central Fund, 0.86% (e) | 71,329,712 | $71,343,978 | |
Fidelity Securities Lending Cash Central Fund 0.87% (e)(f) | 450,353,568 | 450,398,604 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $521,709,521) | 521,742,582 | ||
TOTAL INVESTMENT PORTFOLIO - 110.1% | |||
(Cost $3,585,028,140) | 4,754,239,143 | ||
NET OTHER ASSETS (LIABILITIES) - (10.1)% | (434,627,512) | ||
NET ASSETS - 100% | $4,319,611,631 |
Futures Contracts | |||
Expiration Date | Underlying Face Amount at Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||
Equity Index Contracts | |||
778 CME E-mini NASDAQ 100 Index Contracts (United States) | June 2017 | 90,142,970 | $2,209,548 |
The face value of futures purchased as a percentage of Net Assets is 2.1%
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $19 or 0.0% of net assets.
(d) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,996,060.
(e) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(f) Investment made with cash collateral received from securities on loan.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $149,537 |
Fidelity Securities Lending Cash Central Fund | 2,047,527 |
Total | $2,197,064 |
Investment Valuation
The following is a summary of the inputs used, as of May 31, 2017, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | $811,645,136 | $811,642,687 | $-- | $2,449 |
Consumer Staples | 206,239,993 | 206,239,993 | -- | -- |
Energy | 22,988,895 | 22,986,802 | 19 | 2,074 |
Financials | 278,887,428 | 278,887,428 | -- | -- |
Health Care | 508,764,337 | 508,507,337 | -- | 257,000 |
Industrials | 183,078,903 | 183,078,903 | -- | -- |
Information Technology | 2,106,361,820 | 2,106,361,820 | -- | -- |
Materials | 21,008,355 | 21,008,355 | -- | -- |
Real Estate | 45,184,233 | 45,184,233 | -- | -- |
Telecommunication Services | 40,105,813 | 40,105,813 | -- | -- |
Utilities | 6,235,588 | 6,235,588 | -- | -- |
U.S. Government and Government Agency Obligations | 1,996,060 | -- | 1,996,060 | -- |
Money Market Funds | 521,742,582 | 521,742,582 | -- | -- |
Total Investments in Securities: | $4,754,239,143 | $4,751,981,541 | $1,996,079 | $261,523 |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | $2,209,548 | $2,209,548 | $-- | $-- |
Total Assets | $2,209,548 | $2,209,548 | $-- | $-- |
Total Derivative Instruments: | $2,209,548 | $2,209,548 | $-- | $-- |
Value of Derivative Instruments
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of May 31, 2017. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
Primary Risk Exposure / Derivative Type | Value | |
Asset | Liability | |
Equity Risk | ||
Futures Contracts(a) | $2,209,548 | $0 |
Total Equity Risk | 2,209,548 | 0 |
Total Value of Derivatives | $2,209,548 | $0 |
(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin for derivative instruments, and the net cumulative appreciation (depreciation) is included in net unrealized appreciation (depreciation).
See accompanying notes which are an integral part of the financial statements.
Financial Statements
Statement of Assets and Liabilities
May 31, 2017 (Unaudited) | ||
Assets | ||
Investment in securities, at value (including securities loaned of $439,119,452) — See accompanying schedule: Unaffiliated issuers (cost $3,063,318,619) | $4,232,496,561 | |
Fidelity Central Funds (cost $521,709,521) | 521,742,582 | |
Total Investments (cost $3,585,028,140) | $4,754,239,143 | |
Segregated cash with brokers for derivative instruments | 855,360 | |
Cash | 269,788 | |
Foreign currency held at value (cost $6,266) | 6,235 | |
Receivable for fund shares sold | 13,746,025 | |
Dividends receivable | 4,708,305 | |
Interest receivable | 76,733 | |
Distributions receivable from Fidelity Central Funds | 403,947 | |
Receivable for daily variation margin for derivative instruments | 13,650 | |
Prepaid expenses | 792 | |
Receivable from investment adviser for expense reductions | 422,784 | |
Other receivables | 82,504 | |
Total assets | 4,774,825,266 | |
Liabilities | ||
Payable for investments purchased | $15,969 | |
Payable for fund shares redeemed | 3,328,531 | |
Accrued management fee | 832,643 | |
Other affiliated payables | 514,808 | |
Other payables and accrued expenses | 161,456 | |
Collateral on securities loaned | 450,360,229 | |
Total liabilities | 455,213,636 | |
Net Assets | $4,319,611,630 | |
Net Assets consist of: | ||
Paid in capital | $3,138,431,357 | |
Undistributed net investment income | 15,255,619 | |
Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions | (5,495,960) | |
Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies | 1,171,420,614 | |
Net Assets, for 52,882,561 shares outstanding | $4,319,611,630 | |
Net Asset Value, offering price and redemption price per share ($4,319,611,630 ÷ 52,882,561 shares) | $81.68 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
Six months ended May 31, 2017 (Unaudited) | ||
Investment Income | ||
Dividends | $20,215,733 | |
Interest | 81,989 | |
Income from Fidelity Central Funds (including $2,047,527 from security lending) | 2,197,064 | |
Total income | 22,494,786 | |
Expenses | ||
Management fee | $4,184,235 | |
Transfer agent fees | 2,403,507 | |
Accounting and security lending fees | 410,950 | |
Custodian fees and expenses | 39,728 | |
Independent trustees' fees and expenses | 6,477 | |
Registration fees | 240,497 | |
Audit | 45,677 | |
Legal | 21,685 | |
Miscellaneous | 12,734 | |
Total expenses before reductions | 7,365,490 | |
Expense reductions | (2,303,366) | 5,062,124 |
Net investment income (loss) | 17,432,662 | |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) on: | ||
Investment securities: | ||
Unaffiliated issuers | 5,304,766 | |
Fidelity Central Funds | (6,166) | |
Foreign currency transactions | (16) | |
Futures contracts | 3,563,734 | |
Total net realized gain (loss) | 8,862,318 | |
Change in net unrealized appreciation (depreciation) on: Investment securities | 515,340,763 | |
Assets and liabilities in foreign currencies | 554 | |
Futures contracts | 2,100,328 | |
Total change in net unrealized appreciation (depreciation) | 517,441,645 | |
Net gain (loss) | 526,303,963 | |
Net increase (decrease) in net assets resulting from operations | $543,736,625 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
Six months ended May 31, 2017 (Unaudited) | Year ended November 30, 2016 | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $17,432,662 | $27,967,394 |
Net realized gain (loss) | 8,862,318 | 1,602,458 |
Change in net unrealized appreciation (depreciation) | 517,441,645 | 130,659,112 |
Net increase (decrease) in net assets resulting from operations | 543,736,625 | 160,228,964 |
Distributions to shareholders from net investment income | (26,158,541) | (17,116,229) |
Distributions to shareholders from net realized gain | (1,095,008) | (14,738,930) |
Total distributions | (27,253,549) | (31,855,159) |
Share transactions | ||
Proceeds from sales of shares | 1,389,907,445 | 1,051,858,524 |
Reinvestment of distributions | 26,226,029 | 30,550,054 |
Cost of shares redeemed | (328,150,201) | (572,369,348) |
Net increase (decrease) in net assets resulting from share transactions | 1,087,983,273 | 510,039,230 |
Redemption fees | 8,315 | 347,337 |
Total increase (decrease) in net assets | 1,604,474,664 | 638,760,372 |
Net Assets | ||
Beginning of period | 2,715,136,966 | 2,076,376,594 |
End of period | $4,319,611,630 | $2,715,136,966 |
Other Information | ||
Undistributed net investment income end of period | $15,255,619 | $23,981,498 |
Shares | ||
Sold | 18,300,786 | 16,331,216 |
Issued in reinvestment of distributions | 364,352 | 474,816 |
Redeemed | (4,320,964) | (8,850,966) |
Net increase (decrease) | 14,344,174 | 7,955,066 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights — Fidelity Nasdaq Composite Index Fund
Six months ended (Unaudited) May 31, | Years ended November 30, | |||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
Selected Per–Share Data | ||||||
Net asset value, beginning of period | $70.45 | $67.89 | $63.84 | $54.46 | $40.41 | $35.04 |
Income from Investment Operations | ||||||
Net investment income (loss)A | .38 | .78 | .68 | .75B | .57 | .44 |
Net realized and unrealized gain (loss) | 11.52 | 2.80 | 4.13 | 9.54 | 13.95 | 5.19 |
Total from investment operations | 11.90 | 3.58 | 4.81 | 10.29 | 14.52 | 5.63 |
Distributions from net investment income | (.65) | (.55) | (.52) | (.40) | (.48) | (.27) |
Distributions from net realized gain | (.03) | (.48) | (.26) | (.52) | – | – |
Total distributions | (.67)C | (1.03) | (.78) | (.92) | (.48) | (.27) |
Redemption fees added to paid in capitalA | –D | .01 | .02 | .01 | .01 | .01 |
Net asset value, end of period | $81.68 | $70.45 | $67.89 | $63.84 | $54.46 | $40.41 |
Total ReturnE,F | 17.02% | 5.43% | 7.70% | 19.25% | 36.39% | 16.24% |
Ratios to Average Net AssetsG,H | ||||||
Expenses before reductions | .42%I | .42% | .52% | .55% | .56% | .58% |
Expenses net of fee waivers, if any | .29%I | .29% | .29% | .29% | .33% | .35% |
Expenses net of all reductions | .29%I | .29% | .29% | .29% | .33% | .35% |
Net investment income (loss) | 1.00%I | 1.20% | 1.05% | 1.31%B | 1.23% | 1.13% |
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $4,319,612 | $2,715,137 | $2,076,377 | $1,257,703 | $688,916 | $481,320 |
Portfolio turnover rateJ | 2%I | 4% | 9% | 5% | 14% | 10% |
A Calculated based on average shares outstanding during the period.
B Net Investment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.07%.
C Total distributions of $.67 per share is comprised of distributions from net investment income of $.645 and distributions from net realized gain of $.027 per share.
D Amount represents less than $.005 per share.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.
H Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.
I Annualized
J Amount does not include the portfolio activity of any underlying Fidelity Central Funds.
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements (Unaudited)
For the period ended May 31, 2017
1. Organization.
Fidelity Nasdaq Composite Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .005%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – quoted prices in active markets for identical investments
- 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)
Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors 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 vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of May 31, 2017 is included at the end of the Fund's Schedule of Investments.
Foreign Currency. The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards, market discount, partnerships and losses deferred due to wash sales.
The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:
Gross unrealized appreciation | $1,325,373,804 |
Gross unrealized depreciation | (171,128,129) |
Net unrealized appreciation (depreciation) on securities | $1,154,245,675 |
Tax cost | $3,599,993,468 |
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of fiscal period end and is subject to adjustment.
No expiration | |
Short-term | $(46,930) |
Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to .75% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital. In November 2016, the Board of Trustees approved the elimination of these redemption fees effective December 12, 2016.
Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk:
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
During the period the Fund recognized net realized gain (loss) of $3,563,734 and a change in net unrealized appreciation (depreciation) of $2,100,328 related to its investment in futures contracts. These amounts are included in the Statement of Operations.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, aggregated $1,064,612,339 and $27,078,605, respectively.
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .24% of the Fund's average net assets.
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of the investment adviser, is the Fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC receives an asset-based fee of .14% of the Fund's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.
Accounting and Security Lending Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions
Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
7. Committed Line of Credit.
The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $5,108 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.
8. Security Lending.
The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds.
9. Expense Reductions.
The investment adviser contractually agreed to waive expenses of the Fund to the extent annual operating expenses exceeded .29% of average net assets. This waiver will remain in place through January 31, 2018. Some expenses, for example interest expense, including commitment fees, are excluded from this waiver. During the period this waiver reduced the Fund's expenses by $2,302,381.
In addition, through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $985.
10. Other.
The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.
Shareholder Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including redemption fees and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2016 to May 31, 2017).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Annualized Expense Ratio-A | Beginning Account Value December 1, 2016 | Ending Account Value May 31, 2017 | Expenses Paid During Period-B December 1, 2016 to May 31, 2017 | |
Actual | .29% | $1,000.00 | $1,170.20 | $1.57 |
Hypothetical-C | $1,000.00 | $1,023.49 | $1.46 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).
C 5% return per year before expenses
Board Approval of Investment Advisory Contracts and Management Fees
Fidelity NASDAQ Composite Index Fund
On September 14, 2016, the Board of Trustees, including the Independent Trustees (together, the Board) voted to approve the management contract and sub-advisory agreements (collectively, the Advisory Contracts) for the fund in connection with reorganizing the fund from one Trust to another. In reaching this determination, the Board considered that the contractual terms of and the fees payable under the fund's Advisory Contracts are identical to those in the fund's current Advisory Contracts. The Board considered that the approval of the Advisory Contracts will not result in any changes to (i) the investment process or strategies employed in the management of the fund's assets; (ii) the nature, extent and quality of services provided under the fund's Advisory Contracts; or (iii) the day-to-day management of the fund or the persons primarily responsible for such management. The Board considered that it approved the Advisory Contracts for the fund at its July 2016 meeting and that it will again consider the renewal of the Advisory Contracts in July 2017.
Because the Board was approving Advisory Contracts with terms identical to the current Advisory Contracts, it did not consider the fund’s investment performance, competitiveness of management fees and total expenses, costs of services and profitability, or economies of scale to be significant factors in its decision.
In connection with its consideration of future renewal of the fund's Advisory Contracts, the Board will consider: (i) the nature, extent and quality of services provided to the fund, including shareholder and administrative services and investment performance; (ii) the competitiveness of the fund's management fee and total expenses; (iii) the costs of the services and profitability, including the revenues earned and the expenses incurred by Fidelity conducting the business of developing, marketing, distributing, managing, administering, and servicing the fund and its shareholders, to the extent applicable; and (iv) whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies.
Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board ultimately concluded that the advisory fee structures are fair and reasonable, and that the fund's Advisory Contracts should be approved, without modification, as part of the process of reorganizing the fund from one Trust to another.
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www.fidelity.com
EIF-SANN-0717
1.795567.113
Fidelity® Series 100 Index Fund Semi-Annual Report May 31, 2017 |
Contents
Board Approval of Investment Advisory Contracts and Management Fees |
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544, or for Class F, call 1-800-835-5092, to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2017 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Investment Summary (Unaudited)
Top Ten Stocks as of May 31, 2017
% of fund's net assets | % of fund's net assets 6 months ago | |
Apple, Inc. | 6.1 | 5.0 |
Microsoft Corp. | 4.1 | 3.9 |
Amazon.com, Inc. | 3.0 | 2.5 |
Facebook, Inc. Class A | 2.7 | 2.3 |
Johnson & Johnson | 2.6 | 2.5 |
Exxon Mobil Corp. | 2.6 | 3.0 |
Berkshire Hathaway, Inc. Class B | 2.4 | 2.5 |
JPMorgan Chase & Co. | 2.3 | 2.4 |
Alphabet, Inc. Class A | 2.3 | 1.9 |
Alphabet, Inc. Class C | 2.2 | 1.8 |
30.3 |
Top Market Sectors as of May 31, 2017
% of fund's net assets | % of fund's net assets 6 months ago | |
Information Technology | 26.6 | 24.1 |
Health Care | 14.0 | 14.3 |
Financials | 13.7 | 14.8 |
Consumer Discretionary | 12.4 | 11.7 |
Consumer Staples | 11.0 | 10.6 |
Industrials | 8.8 | 9.2 |
Energy | 6.1 | 7.4 |
Telecommunication Services | 3.3 | 3.7 |
Utilities | 1.6 | 1.5 |
Materials | 1.4 | 1.4 |
Asset Allocation (% of fund's net assets)
As of May 31, 2017* | ||
Stocks and Equity Futures | 100.0% |
* Foreign investments - 2.8%
As of November 30, 2016* | ||
Stocks and Equity Futures | 100.0% |
* Foreign investments - 2.9%
Investments May 31, 2017 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 99.3% | |||
Shares | Value | ||
CONSUMER DISCRETIONARY - 12.4% | |||
Automobiles - 0.7% | |||
Ford Motor Co. | 1,020,191 | $11,344,524 | |
General Motors Co. | 356,268 | 12,088,173 | |
23,432,697 | |||
Hotels, Restaurants & Leisure - 1.7% | |||
McDonald's Corp. | 214,049 | 32,297,854 | |
Starbucks Corp. | 380,901 | 24,229,113 | |
56,526,967 | |||
Internet & Direct Marketing Retail - 3.7% | |||
Amazon.com, Inc. (a) | 103,511 | 102,954,111 | |
Priceline Group, Inc. (a) | 12,851 | 24,122,484 | |
127,076,595 | |||
Media - 3.6% | |||
Comcast Corp. Class A | 1,236,927 | 51,567,487 | |
The Walt Disney Co. | 380,208 | 41,039,652 | |
Time Warner, Inc. | 202,377 | 20,134,488 | |
Twenty-First Century Fox, Inc.: | |||
Class A | 275,029 | 7,458,786 | |
Class B | 127,306 | 3,424,531 | |
123,624,944 | |||
Multiline Retail - 0.2% | |||
Target Corp. | 145,355 | 8,016,328 | |
Specialty Retail - 2.0% | |||
Home Depot, Inc. | 318,374 | 48,873,593 | |
Lowe's Companies, Inc. | 226,335 | 17,828,408 | |
66,702,001 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
NIKE, Inc. Class B | 346,356 | 18,353,404 | |
TOTAL CONSUMER DISCRETIONARY | 423,732,936 | ||
CONSUMER STAPLES - 11.0% | |||
Beverages - 2.6% | |||
PepsiCo, Inc. | 373,012 | 43,593,912 | |
The Coca-Cola Co. | 1,009,912 | 45,920,699 | |
89,514,611 | |||
Food & Staples Retailing - 2.7% | |||
Costco Wholesale Corp. | 114,720 | 20,698,930 | |
CVS Health Corp. | 268,074 | 20,596,125 | |
Wal-Mart Stores, Inc. | 393,567 | 30,934,366 | |
Walgreens Boots Alliance, Inc. | 222,868 | 18,056,765 | |
90,286,186 | |||
Food Products - 1.0% | |||
Mondelez International, Inc. | 398,990 | 18,588,944 | |
The Kraft Heinz Co. | 155,872 | 14,371,398 | |
32,960,342 | |||
Household Products - 2.2% | |||
Colgate-Palmolive Co. | 230,741 | 17,619,383 | |
Procter & Gamble Co. | 668,152 | 58,857,510 | |
76,476,893 | |||
Tobacco - 2.5% | |||
Altria Group, Inc. | 506,880 | 38,239,027 | |
Philip Morris International, Inc. | 405,465 | 48,574,707 | |
86,813,734 | |||
TOTAL CONSUMER STAPLES | 376,051,766 | ||
ENERGY - 6.1% | |||
Energy Equipment & Services - 1.0% | |||
Halliburton Co. | 226,579 | 10,239,105 | |
Schlumberger Ltd. | 364,363 | 25,356,021 | |
35,595,126 | |||
Oil, Gas & Consumable Fuels - 5.1% | |||
Chevron Corp. | 494,775 | 51,199,317 | |
ConocoPhillips Co. | 322,993 | 14,434,557 | |
Exxon Mobil Corp. | 1,083,719 | 87,239,380 | |
Kinder Morgan, Inc. | 501,778 | 9,413,355 | |
Occidental Petroleum Corp. | 199,753 | 11,771,444 | |
174,058,053 | |||
TOTAL ENERGY | 209,653,179 | ||
FINANCIALS - 13.7% | |||
Banks - 7.7% | |||
Bank of America Corp. | 2,620,132 | 58,717,158 | |
Citigroup, Inc. | 724,143 | 43,839,617 | |
JPMorgan Chase & Co. | 933,556 | 76,691,625 | |
U.S. Bancorp | 416,191 | 21,179,960 | |
Wells Fargo & Co. | 1,176,897 | 60,186,513 | |
260,614,873 | |||
Capital Markets - 1.8% | |||
Bank of New York Mellon Corp. | 271,146 | 12,776,400 | |
BlackRock, Inc. Class A | 31,804 | 13,015,469 | |
Goldman Sachs Group, Inc. | 96,830 | 20,456,306 | |
Morgan Stanley | 375,556 | 15,675,707 | |
61,923,882 | |||
Consumer Finance - 0.7% | |||
American Express Co. | 197,865 | 15,223,733 | |
Capital One Financial Corp. | 125,619 | 9,662,613 | |
24,886,346 | |||
Diversified Financial Services - 2.4% | |||
Berkshire Hathaway, Inc. Class B (a) | 496,393 | 82,043,835 | |
Insurance - 1.1% | |||
Allstate Corp. | 95,429 | 8,239,340 | |
American International Group, Inc. | 229,859 | 14,625,928 | |
MetLife, Inc. | 284,162 | 14,375,756 | |
37,241,024 | |||
TOTAL FINANCIALS | 466,709,960 | ||
HEALTH CARE - 14.0% | |||
Biotechnology - 3.4% | |||
AbbVie, Inc. | 416,582 | 27,502,744 | |
Amgen, Inc. | 192,477 | 29,880,129 | |
Biogen, Inc. (a) | 56,428 | 13,981,166 | |
Celgene Corp. (a) | 203,327 | 23,262,642 | |
Gilead Sciences, Inc. | 341,611 | 22,167,138 | |
116,793,819 | |||
Health Care Equipment & Supplies - 1.9% | |||
Abbott Laboratories | 451,624 | 20,621,152 | |
Danaher Corp. | 159,450 | 13,543,683 | |
Medtronic PLC | 357,767 | 30,152,603 | |
64,317,438 | |||
Health Care Providers & Services - 1.3% | |||
UnitedHealth Group, Inc. | 251,448 | 44,048,661 | |
Pharmaceuticals - 7.4% | |||
Allergan PLC | 87,613 | 19,603,409 | |
Bristol-Myers Squibb Co. | 437,175 | 23,585,591 | |
Eli Lilly & Co. | 253,764 | 20,192,001 | |
Johnson & Johnson | 709,151 | 90,948,616 | |
Merck & Co., Inc. | 717,573 | 46,721,178 | |
Pfizer, Inc. | 1,555,561 | 50,789,067 | |
251,839,862 | |||
TOTAL HEALTH CARE | 476,999,780 | ||
INDUSTRIALS - 8.8% | |||
Aerospace & Defense - 2.9% | |||
General Dynamics Corp. | 74,376 | 15,116,922 | |
Lockheed Martin Corp. | 65,253 | 18,344,576 | |
Raytheon Co. | 76,546 | 12,554,309 | |
The Boeing Co. | 148,870 | 27,932,478 | |
United Technologies Corp. | 195,874 | 23,755,599 | |
97,703,884 | |||
Air Freight & Logistics - 0.9% | |||
FedEx Corp. | 64,082 | 12,421,655 | |
United Parcel Service, Inc. Class B | 180,134 | 19,088,800 | |
31,510,455 | |||
Electrical Equipment - 0.3% | |||
Emerson Electric Co. | 168,592 | 9,967,159 | |
Industrial Conglomerates - 3.5% | |||
3M Co. | 155,821 | 31,860,720 | |
General Electric Co. | 2,280,280 | 62,434,066 | |
Honeywell International, Inc. | 198,943 | 26,457,430 | |
120,752,216 | |||
Machinery - 0.5% | |||
Caterpillar, Inc. | 153,282 | 16,160,521 | |
Road & Rail - 0.7% | |||
Union Pacific Corp. | 212,691 | 23,459,817 | |
TOTAL INDUSTRIALS | 299,554,052 | ||
INFORMATION TECHNOLOGY - 26.6% | |||
Communications Equipment - 1.2% | |||
Cisco Systems, Inc. | 1,308,836 | 41,267,599 | |
Internet Software & Services - 7.2% | |||
Alphabet, Inc.: | |||
Class A (a) | 77,654 | 76,651,487 | |
Class C (a) | 77,231 | 74,517,103 | |
Facebook, Inc. Class A (a) | 615,539 | 93,229,537 | |
244,398,127 | |||
IT Services - 4.3% | |||
Accenture PLC Class A | 162,728 | 20,254,754 | |
IBM Corp. | 224,329 | 34,239,335 | |
MasterCard, Inc. Class A | 246,238 | 30,257,725 | |
PayPal Holdings, Inc. (a) | 293,517 | 15,324,523 | |
Visa, Inc. Class A | 485,606 | 46,244,259 | |
146,320,596 | |||
Semiconductors & Semiconductor Equipment - 2.6% | |||
Intel Corp. | 1,235,694 | 44,620,910 | |
Qualcomm, Inc. | 386,034 | 22,108,167 | |
Texas Instruments, Inc. | 261,263 | 21,551,585 | |
88,280,662 | |||
Software - 5.2% | |||
Microsoft Corp. | 2,019,641 | 141,051,727 | |
Oracle Corp. | 783,303 | 35,554,123 | |
176,605,850 | |||
Technology Hardware, Storage & Peripherals - 6.1% | |||
Apple, Inc. | 1,371,218 | 209,467,262 | |
TOTAL INFORMATION TECHNOLOGY | 906,340,096 | ||
MATERIALS - 1.4% | |||
Chemicals - 1.4% | |||
E.I. du Pont de Nemours & Co. | 225,962 | 17,832,921 | |
Monsanto Co. | 114,601 | 13,456,449 | |
The Dow Chemical Co. | 291,739 | 18,076,148 | |
49,365,518 | |||
REAL ESTATE - 0.4% | |||
Equity Real Estate Investment Trusts (REITs) - 0.4% | |||
Simon Property Group, Inc. | 83,588 | 12,893,449 | |
TELECOMMUNICATION SERVICES - 3.3% | |||
Diversified Telecommunication Services - 3.3% | |||
AT&T, Inc. | 1,605,140 | 61,846,044 | |
Verizon Communications, Inc. | 1,065,365 | 49,688,624 | |
111,534,668 | |||
UTILITIES - 1.6% | |||
Electric Utilities - 1.6% | |||
Duke Energy Corp. | 182,848 | 15,666,417 | |
Exelon Corp. | 242,170 | 8,793,193 | |
NextEra Energy, Inc. | 122,206 | 17,284,817 | |
Southern Co. | 259,018 | 13,108,901 | |
54,853,328 | |||
TOTAL COMMON STOCKS | |||
(Cost $2,765,490,914) | 3,387,688,732 | ||
Principal Amount | Value | ||
U.S. Treasury Obligations - 0.0% | |||
U.S. Treasury Bills, yield at date of purchase 0.55% 8/17/17 (b) | |||
(Cost $499,416) | 500,000 | 499,015 | |
Shares | Value | ||
Money Market Funds - 0.8% | |||
Fidelity Cash Central Fund, 0.86% (c) | |||
(Cost $26,831,500) | 26,826,135 | 26,831,500 | |
TOTAL INVESTMENT PORTFOLIO - 100.1% | |||
(Cost $2,792,821,830) | 3,415,019,247 | ||
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (3,883,013) | ||
NET ASSETS - 100% | $3,411,136,234 |
Futures Contracts | |||
Expiration Date | Underlying Face Amount at Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||
Equity Index Contracts | |||
196 CME E-mini S&P 500 Index Contracts (United States) | June 2017 | 23,628,780 | $130,844 |
The face value of futures purchased as a percentage of Net Assets is 0.7%
Legend
(a) Non-income producing
(b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $499,015.
(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $63,300 |
Fidelity Securities Lending Cash Central Fund | 673 |
Total | $63,973 |
Investment Valuation
The following is a summary of the inputs used, as of May 31, 2017, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | $423,732,936 | $423,732,936 | $-- | $-- |
Consumer Staples | 376,051,766 | 376,051,766 | -- | -- |
Energy | 209,653,179 | 209,653,179 | -- | -- |
Financials | 466,709,960 | 466,709,960 | -- | -- |
Health Care | 476,999,780 | 476,999,780 | -- | -- |
Industrials | 299,554,052 | 299,554,052 | -- | -- |
Information Technology | 906,340,096 | 906,340,096 | -- | -- |
Materials | 49,365,518 | 49,365,518 | -- | -- |
Real Estate | 12,893,449 | 12,893,449 | -- | -- |
Telecommunication Services | 111,534,668 | 111,534,668 | -- | -- |
Utilities | 54,853,328 | 54,853,328 | -- | -- |
U.S. Government and Government Agency Obligations | 499,015 | -- | 499,015 | -- |
Money Market Funds | 26,831,500 | 26,831,500 | -- | -- |
Total Investments in Securities: | $3,415,019,247 | $3,414,520,232 | $499,015 | $-- |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | $130,844 | $130,844 | $-- | $-- |
Total Assets | $130,844 | $130,844 | $-- | $-- |
Total Derivative Instruments: | $130,844 | $130,844 | $-- | $-- |
Value of Derivative Instruments
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of May 31, 2017. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
Primary Risk Exposure / Derivative Type | Value | |
Asset | Liability | |
Equity Risk | ||
Futures Contracts(a) | $130,844 | $0 |
Total Equity Risk | 130,844 | 0 |
Total Value of Derivatives | $130,844 | $0 |
(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin for derivative instruments, and the net cumulative appreciation (depreciation) is included in net unrealized appreciation (depreciation).
See accompanying notes which are an integral part of the financial statements.
Financial Statements
Statement of Assets and Liabilities
May 31, 2017 (Unaudited) | ||
Assets | ||
Investment in securities, at value — See accompanying schedule: Unaffiliated issuers (cost $2,765,990,330) | $3,388,187,747 | |
Fidelity Central Funds (cost $26,831,500) | 26,831,500 | |
Total Investments (cost $2,792,821,830) | $3,415,019,247 | |
Segregated cash with brokers for derivative instruments | 899,790 | |
Receivable for fund shares sold | 128,072 | |
Dividends receivable | 8,595,134 | |
Distributions receivable from Fidelity Central Funds | 15,175 | |
Receivable for daily variation margin for derivative instruments | 4,689 | |
Total assets | 3,424,662,107 | |
Liabilities | ||
Payable for fund shares redeemed | $13,316,358 | |
Accrued management fee | 141,676 | |
Other affiliated payables | 67,839 | |
Total liabilities | 13,525,873 | |
Net Assets | $3,411,136,234 | |
Net Assets consist of: | ||
Paid in capital | $3,059,297,780 | |
Undistributed net investment income | 32,032,057 | |
Accumulated undistributed net realized gain (loss) on investments | (302,521,864) | |
Net unrealized appreciation (depreciation) on investments | 622,328,261 | |
Net Assets | $3,411,136,234 | |
Series 100 Index: | ||
Net Asset Value, offering price and redemption price per share ($1,631,431,021 ÷ 103,670,072 shares) | $15.74 | |
Class F: | ||
Net Asset Value, offering price and redemption price per share ($1,779,705,213 ÷ 113,089,076 shares) | $15.74 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
Six months ended May 31, 2017 (Unaudited) | ||
Investment Income | ||
Dividends | $37,542,362 | |
Interest | 1,486 | |
Income from Fidelity Central Funds | 63,973 | |
Total income | 37,607,821 | |
Expenses | ||
Management fee | $831,956 | |
Transfer agent fees | 401,912 | |
Independent trustees' fees and expenses | 6,677 | |
Interest | 2,472 | |
Miscellaneous | 5,629 | |
Total expenses before reductions | 1,248,646 | |
Expense reductions | (425) | 1,248,221 |
Net investment income (loss) | 36,359,600 | |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) on: | ||
Investment securities: | ||
Unaffiliated issuers | 49,713,592 | |
Fidelity Central Funds | (825) | |
Futures contracts | 2,465,628 | |
Total net realized gain (loss) | 52,178,395 | |
Change in net unrealized appreciation (depreciation) on: Investment securities | 258,660,828 | |
Futures contracts | (118,723) | |
Total change in net unrealized appreciation (depreciation) | 258,542,105 | |
Net gain (loss) | 310,720,500 | |
Net increase (decrease) in net assets resulting from operations | $347,080,100 |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
Six months ended May 31, 2017 (Unaudited) | Year ended November 30, 2016 | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $36,359,600 | $74,126,618 |
Net realized gain (loss) | 52,178,395 | 110,667,969 |
Change in net unrealized appreciation (depreciation) | 258,542,105 | 32,188,894 |
Net increase (decrease) in net assets resulting from operations | 347,080,100 | 216,983,481 |
Distributions to shareholders from net investment income | (73,270,105) | (75,790,365) |
Share transactions - net increase (decrease) | (96,267,442) | (288,847,188) |
Total increase (decrease) in net assets | 177,542,553 | (147,654,072) |
Net Assets | ||
Beginning of period | 3,233,593,681 | 3,381,247,753 |
End of period | $3,411,136,234 | $3,233,593,681 |
Other Information | ||
Undistributed net investment income end of period | $32,032,057 | $68,942,562 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights — Fidelity Series 100 Index Fund
Six months ended (Unaudited) May 31, | Years ended November 30, | |||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
Selected Per–Share Data | ||||||
Net asset value, beginning of period | $14.50 | $13.87 | $13.67 | $11.77 | $10.19 | $8.85 |
Income from Investment Operations | ||||||
Net investment income (loss)A | .16 | .31 | .29 | .27 | .25 | .21 |
Net realized and unrealized gain (loss) | 1.41 | .63 | .18 | 1.63 | 2.35 | 1.31 |
Total from investment operations | 1.57 | .94 | .47 | 1.90 | 2.60 | 1.52 |
Distributions from net investment income | (.33) | (.31) | (.27) | – | (1.02) | (.18) |
Net asset value, end of period | $15.74 | $14.50 | $13.87 | $13.67 | $11.77 | $10.19 |
Total ReturnB,C | 10.97% | 7.00% | 3.48% | 16.14% | 27.56% | 17.49% |
Ratios to Average Net AssetsD,E | ||||||
Expenses before reductions | .10%F | .10%�� | .10% | .10% | .18% | .20% |
Expenses net of fee waivers, if any | .10%F | .10% | .10% | .10% | .17% | .20% |
Expenses net of all reductions | .10%F | .10% | .10% | .10% | .17% | .20% |
Net investment income (loss) | 2.14%F | 2.27% | 2.17% | 2.11% | 2.34% | 2.17% |
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $1,631,431 | $1,544,113 | $1,670,998 | $1,814,733 | $2,710,285 | $8,019,529 |
Portfolio turnover rateG | 1%F | 4% | 10% | 8% | 19% | 10% |
A Calculated based on average shares outstanding during the period.
B Total returns for periods of less than one year are not annualized.
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
D Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.
E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.
F Annualized
G Amount does not include the portfolio activity of any underlying Fidelity Central Funds.
See accompanying notes which are an integral part of the financial statements.
Financial Highlights — Fidelity Series 100 Index Fund Class F
Six months ended (Unaudited) May 31, | Years ended November 30, | |||
2017 | 2016 | 2015 | 2014 A | |
Selected Per–Share Data | ||||
Net asset value, beginning of period | $14.50 | $13.87 | $13.68 | $11.69 |
Income from Investment Operations | ||||
Net investment income (loss)B | .17 | .32 | .30 | .27 |
Net realized and unrealized gain (loss) | 1.40 | .63 | .16 | 1.72 |
Total from investment operations | 1.57 | .95 | .46 | 1.99 |
Distributions from net investment income | (.33) | (.32) | (.27) | – |
Net asset value, end of period | $15.74 | $14.50 | $13.87 | $13.68 |
Total ReturnC,D | 11.03% | 7.06% | 3.45% | 17.02% |
Ratios to Average Net AssetsE,F | ||||
Expenses before reductions | .05%G | .05% | .05% | .05%G |
Expenses net of fee waivers, if any | .05%G | .05% | .05% | .05%G |
Expenses net of all reductions | .05%G | .05% | .05% | .05%G |
Net investment income (loss) | 2.19%G | 2.32% | 2.22% | 2.16%G |
Supplemental Data | ||||
Net assets, end of period (000 omitted) | $1,779,705 | $1,689,481 | $1,710,250 | $1,770,273 |
Portfolio turnover rateH | 1%G | 4% | 10% | 8% |
A For the period December 4, 2013 (commencement of sale of shares) to November 30, 2014.
B Calculated based on average shares outstanding during the period.
C Total returns for periods of less than one year are not annualized.
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
E Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.
G Annualized
H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements (Unaudited)
For the period ended May 31, 2017
1. Organization.
Fidelity Series 100 Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares of the Fund are only available for purchase by mutual funds for which Fidelity Management & Research Company (FMR) or an affiliate serves as an investment manager. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Series 100 Index and Class F shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class.
2. Investments in Fidelity Central Funds.
The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .005%.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services – Investments Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – quoted prices in active markets for identical investments
- 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)
Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors 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 vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of May 31, 2017, is included at the end of the Fund's Schedule of Investments.
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.
Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to in-kind transactions, futures contracts, market discount, capital loss carryforwards and losses deferred due to wash sales.
The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:
Gross unrealized appreciation | $977,471,569 |
Gross unrealized depreciation | (372,203,871) |
Net unrealized appreciation (depreciation) on securities | $605,267,698 |
Tax cost | $2,809,751,549 |
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
Fiscal year of expiration | |
2017 | $( 38,718,659) |
2018 | (297,318,580) |
Total capital loss carryforward | $(336,037,239) |
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk:
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
During the period the Fund recognized net realized gain (loss) of $2,465,628 and a change in net unrealized appreciation (depreciation) of $(118,723) related to its investment in futures contracts. These amounts are included in the Statement of Operations.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, aggregated $23,384,542 and $148,159,569, respectively.
6. Fees and Other Transactions with Affiliates.
Management Fee and Expense Contract. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .05% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as transfer agent and interest expense, including commitment fees. The management fee is reduced by an amount equal to the fees and expenses paid by the Fund to the independent Trustees.
In addition, under the expense contract, the investment adviser pays class-level expenses for Series 100 Index so that the total expenses do not exceed .10%, expressed as a percentage of class average net assets, with certain exceptions such as interest expense, including commitment fees.
The Board and shareholders approved a new management contract, effective June 1, 2017. Under the management contract, the Fund will not pay a management fee. In addition, the investment adviser will pay all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
Transfer Agent Fees. Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives transfer agent fees at an annual rate of .075% of average net assets for Series 100 Index. FIIOC receives no fees for providing transfer agency services to Class F. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.
Under the expense contract, Series 100 Index pays a portion of the transfer agent fees at an annual rate of .05% of average net assets.
For the period, transfer agent fees for each applicable class were as follows:
Amount | |
Series 100 Index | $401,912 |
Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the Fund, along with other registered investment companies having management contracts with FMR or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. The Fund's activity in this program during the period for which loans were outstanding was as follows:
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense |
Borrower | $27,069,500 | .82% | $2,472 |
Interfund Trades. The Fund may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.
7. Committed Line of Credit.
The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $5,629 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.
8. Security Lending.
The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. The Fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. At period end, there were no security loans outstanding. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $673.
9. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $425.
Effective June 1, 2017, the investment adviser will contractually reimburse expenses of each class to the extent annual operating expenses exceed .014% of class-level average net assets. Fees and expenses of the independent Trustees and certain miscellaneous expenses such as proxy and shareholder meeting expenses will be excluded from this reimbursement.
10. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
Six months ended May 31, 2017 | Year ended November 30, 2016 | |
From net investment income | ||
Series 100 Index | $34,597,905 | $37,042,690 |
Class F | 38,672,200 | 38,747,675 |
Total | $73,270,105 | $75,790,365 |
11. Share Transactions.
Transactions for each class of shares were as follows:
Shares | Shares | Dollars | Dollars | |
Six months ended May 31, 2017 | Year ended November 30, 2016 | Six months ended May 31, 2017 | Year ended November 30, 2016 | |
Series 100 Index | ||||
Shares sold | 4,091,205 | 7,974,111 | $62,063,158 | $107,582,811 |
Reinvestment of distributions | 2,361,632 | 2,823,376 | 34,597,905 | 37,042,690 |
Shares redeemed | (9,272,551) | (24,807,548) | (141,050,920) | (338,780,299) |
Net increase (decrease) | (2,819,714) | (14,010,061) | $(44,389,857) | $(194,154,798) |
Class F | ||||
Shares sold | 6,814,903 | 15,865,327 | $103,678,595 | $214,624,314 |
Reinvestment of distributions | 2,641,544 | 2,955,582 | 38,672,200 | 38,747,675 |
Shares redeemed | (12,844,819) | (25,631,264) | (194,228,380) | (348,064,379) |
Net increase (decrease) | (3,388,372) | (6,810,355) | $(51,877,585) | $(94,692,390) |
12. Other.
The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.
At the end of the period, mutual funds managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.
Shareholder Expense Example
As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, and (2) ongoing costs, including management fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2016 to May 31, 2017).
Actual Expenses
The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
Annualized Expense Ratio-A | Beginning Account Value December 1, 2016 | Ending Account Value May 31, 2017 | Expenses Paid During Period-B December 1, 2016 to May 31, 2017 | |
Series 100 Index | .10% | |||
Actual | $1,000.00 | $1,109.70 | $.53** | |
Hypothetical-C | $1,000.00 | $1,024.43 | $.50** | |
Class F | .05% | |||
Actual | $1,000.00 | $1,110.30 | $.26** | |
Hypothetical-C | $1,000.00 | $1,024.68 | $.25** |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period).
C 5% return per year before expenses
** If fees and changes to the class level expense contract and/or expense cap, effective June 1, 2017, had been in effect during the current period, the annualized expense ratio and the expenses paid in the actual and hypothetical examples above would have been as shown in the table below:
Annualized Expense Ratio-(a) | Expenses Paid | |
Series 100 Index | .00% | |
Actual | $.00 | |
Hypothetical-(b) | $.00 | |
Class F | .00% | |
Actual | $.00 | |
Hypothetical-(b) | $.00 |
(a) Annualized expense ratio reflects expenses net of applicable fee waivers.
(b) 5% return per year before expenses
Board Approval of Investment Advisory Contracts and Management Fees
Fidelity Series 100 Index Fund
On September 14, 2016, the Board of Trustees, including the Independent Trustees (together, the Board) voted to approve the management contract and sub-advisory agreements (collectively, the Advisory Contracts) for the fund in connection with reorganizing the fund from one Trust to another. In reaching this determination, the Board considered that the contractual terms of and the fees payable under the fund's Advisory Contracts are identical to those in the fund's current Advisory Contracts. The Board considered that the approval of the Advisory Contracts will not result in any changes to (i) the investment process or strategies employed in the management of the fund's assets; (ii) the nature, extent and quality of services provided under the fund's Advisory Contracts; or (iii) the day-to-day management of the fund or the persons primarily responsible for such management. The Board considered that it approved the Advisory Contracts for the fund at its July 2016 meeting and that it will again consider the renewal of the Advisory Contracts in July 2017.
Because the Board was approving Advisory Contracts with terms identical to the current Advisory Contracts, it did not consider the fund's investment performance, competitiveness of management fees and total expenses, costs of services and profitability, or economies of scale to be significant factors in its decision.
In connection with its consideration of future renewal of the fund's Advisory Contracts, the Board will consider: (i) the nature, extent and quality of services provided to the fund, including shareholder and administrative services and investment performance; (ii) the competitiveness of the fund's management fee and total expenses; (iii) the costs of the services and profitability, including the revenues earned and the expenses incurred by Fidelity conducting the business of developing, marketing, distributing, managing, administering, and servicing the fund and its shareholders, to the extent applicable; and (iv) whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies.
Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board ultimately concluded that the advisory fee structures are fair and reasonable, and that the fund's Advisory Contracts should be approved, without modification, as part of the process of reorganizing the fund from one Trust to another.
Corporate Headquarters
245 Summer St.
Boston, MA 02210
www.fidelity.com
HUN-SANN-0717
1.842446.110
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
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Concord Street Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Concord Street Trust’s (the “Trust”) disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |
(a) | (3) | Not applicable. |
(b) | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT. |
SIGNATURES
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.
Fidelity Concord Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | July 25, 2017 |
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.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | July 25, 2017 |
By: | /s/Howard J. Galligan III |
Howard J. Galligan III | |
Chief Financial Officer | |
Date: | July 25, 2017 |