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: 811-06093
Name of Registrant: | Vanguard Institutional Index Funds |
Address of Registrant: | P.O. Box 2600 |
Valley Forge, PA 19482 |
Name and address of agent for service: | Anne E. Robinson, Esquire |
P.O. Box 876 | |
Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: December 31
Date of reporting period: January 1, 2022—December 31, 2022
Item 1: Reports to Shareholders
Your Fund’s Performance at a Glance | 1 |
About Your Fund’s Expenses | 2 |
Performance Summary | 4 |
Financial Statements | 6 |
• | For the 12 months ended December 31, 2022, Vanguard Institutional Index Fund returned –18.14% for Institutional Shares and –18.13% for Institutional Plus Shares, closely tracking its target index, the Standard & Poor’s 500 Index. The fund provides exposure to the stocks of the largest U.S. companies. |
• | The period was a volatile, challenging one for financial markets. Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia’s invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession. |
• | The majority of the 11 sectors recorded negative returns for the 12 months. Information technology, consumer discretionary, communication services, and financial stocks hurt performance the most. |
• | For the 10 years ended December 31, 2022, the fund posted average annual returns of 12.53% for Institutional Shares and 12.55% for Institutional Plus Shares, closely tracking the return of its target index. |
Average Annual Total Returns Periods Ended December 31, 2022 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | -19.13% | 7.35% | 9.13% |
Russell 2000 Index (Small-caps) | -20.44 | 3.10 | 4.13 |
Russell 3000 Index (Broad U.S. market) | -19.21 | 7.07 | 8.79 |
FTSE All-World ex US Index (International) | -15.49 | 0.61 | 1.28 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -13.07% | -2.67% | 0.06% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | -8.53 | -0.77 | 1.25 |
FTSE Three-Month U.S. Treasury Bill Index | 1.50 | 0.70 | 1.24 |
CPI | |||
Consumer Price Index | 6.45% | 4.92% | 3.78% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended December 31, 2022 | |||
Beginning Account Value 6/30/2022 | Ending Account Value 12/31/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Institutional Index Fund | |||
Institutional Shares | $1,000.00 | $1,022.90 | $0.18 |
Institutional Plus Shares | 1,000.00 | 1,023.00 | 0.10 |
Based on Hypothetical 5% Yearly Return | |||
Institutional Index Fund | |||
Institutional Shares | $1,000.00 | $1,025.03 | $0.18 |
Institutional Plus Shares | 1,000.00 | 1,025.11 | 0.10 |
Average Annual Total Returns Periods Ended December 31, 2022 | |||||
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Institutional Index Fund Institutional Shares | -18.14% | 9.40% | 12.53% | $16,284,567 | |
S&P 500 Index | -18.11 | 9.42 | 12.56 | 16,327,025 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | -19.53 | 8.65 | 12.03 | 15,575,514 |
One Year | Five Years | Ten Years | Final Value of a $100,000,000 Investment | ||
Institutional Index Fund Institutional Plus Shares | -18.13% | 9.41% | 12.55% | $326,223,740 | |
S&P 500 Index | -18.11 | 9.42 | 12.56 | 326,540,490 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | -19.53 | 8.65 | 12.03 | 311,510,280 |
Communication Services | 7.3% |
Consumer Discretionary | 9.8 |
Consumer Staples | 7.2 |
Energy | 5.2 |
Financials | 11.6 |
Health Care | 15.8 |
Industrials | 8.7 |
Information Technology | 25.8 |
Materials | 2.7 |
Real Estate | 2.7 |
Utilities | 3.2 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Communication Services (7.2%) | |||
* | Alphabet Inc. Class A | 41,722,075 | 3,681,139 |
* | Alphabet Inc. Class C | 36,993,051 | 3,282,393 |
* | Meta Platforms Inc. Class A | 15,708,833 | 1,890,401 |
Verizon Communications Inc. | 29,340,216 | 1,156,005 | |
* | Walt Disney Co. | 12,735,756 | 1,106,482 |
Comcast Corp. Class A | 30,137,255 | 1,053,900 | |
* | Netflix Inc. | 3,108,796 | 916,722 |
AT&T Inc. | 49,789,086 | 916,617 | |
* | T-Mobile US Inc. | 4,172,127 | 584,098 |
Activision Blizzard Inc. | 4,975,583 | 380,881 | |
* | Charter Communications Inc. Class A | 750,435 | 254,473 |
Electronic Arts Inc. | 1,832,354 | 223,877 | |
* | Warner Bros Discovery Inc. | 15,437,894 | 146,351 |
Omnicom Group Inc. | 1,424,842 | 116,224 | |
* | Take-Two Interactive Software Inc. | 1,102,069 | 114,758 |
Interpublic Group of Cos. Inc. | 2,710,450 | 90,285 | |
* | Match Group Inc. | 1,951,200 | 80,955 |
* | Live Nation Entertainment Inc. | 998,111 | 69,608 |
Fox Corp. Class A | 2,100,889 | 63,804 | |
News Corp. Class A | 3,504,130 | 63,775 | |
1 | Paramount Global Inc. Class B | 3,531,794 | 59,617 |
Lumen Technologies Inc. | 6,621,843 | 34,566 | |
Fox Corp. Class B | 987,136 | 28,084 | |
* | DISH Network Corp. Class A | 1,747,792 | 24,539 |
16,339,554 | |||
Consumer Discretionary (9.8%) | |||
* | Amazon.com Inc. | 62,002,159 | 5,208,181 |
* | Tesla Inc. | 18,750,476 | 2,309,684 |
Home Depot Inc. | 7,151,422 | 2,258,848 | |
McDonald's Corp. | 5,116,643 | 1,348,389 | |
NIKE Inc. Class B | 8,799,510 | 1,029,631 | |
Lowe's Cos. Inc. | 4,335,948 | 863,894 | |
Starbucks Corp. | 8,019,003 | 795,485 | |
TJX Cos. Inc. | 8,110,558 | 645,600 |
Shares | Market Value• ($000) | ||
* | Booking Holdings Inc. | 270,969 | 546,078 |
Target Corp. | 3,215,162 | 479,188 | |
Dollar General Corp. | 1,575,681 | 388,011 | |
* | O'Reilly Automotive Inc. | 437,156 | 368,973 |
General Motors Co. | 9,924,436 | 333,858 | |
* | AutoZone Inc. | 132,596 | 327,006 |
Ford Motor Co. | 27,590,591 | 320,879 | |
Ross Stores Inc. | 2,424,317 | 281,390 | |
Marriott International Inc. Class A | 1,879,703 | 279,869 | |
* | Chipotle Mexican Grill Inc. Class A | 193,638 | 268,671 |
Yum! Brands Inc. | 1,967,897 | 252,048 | |
Hilton Worldwide Holdings Inc. | 1,889,495 | 238,757 | |
* | Dollar Tree Inc. | 1,470,494 | 207,987 |
DR Horton Inc. | 2,186,113 | 194,870 | |
* | Aptiv plc | 1,892,853 | 176,281 |
Tractor Supply Co. | 771,551 | 173,576 | |
Genuine Parts Co. | 984,621 | 170,842 | |
* | Ulta Beauty Inc. | 357,788 | 167,828 |
Lennar Corp. Class A | 1,738,821 | 157,363 | |
eBay Inc. | 3,790,817 | 157,205 | |
Darden Restaurants Inc. | 855,046 | 118,278 | |
Best Buy Co. Inc. | 1,399,492 | 112,253 | |
* | Las Vegas Sands Corp. | 2,295,442 | 110,342 |
* | Etsy Inc. | 877,992 | 105,166 |
Garmin Ltd. | 1,069,936 | 98,744 | |
* | NVR Inc. | 20,978 | 96,763 |
LKQ Corp. | 1,772,900 | 94,691 | |
* | Expedia Group Inc. | 1,051,835 | 92,141 |
Domino's Pizza Inc. | 247,304 | 85,666 | |
Pool Corp. | 272,797 | 82,475 | |
* | Royal Caribbean Cruises Ltd. | 1,533,057 | 75,779 |
MGM Resorts International | 2,225,495 | 74,621 | |
PulteGroup Inc. | 1,590,743 | 72,426 | |
Bath & Body Works Inc. | 1,598,189 | 67,348 | |
* | CarMax Inc. | 1,105,752 | 67,329 |
BorgWarner Inc. (XNYS) | 1,634,380 | 65,784 | |
Tapestry Inc. | 1,682,046 | 64,052 | |
VF Corp. | 2,309,537 | 63,766 | |
* | Caesars Entertainment Inc. | 1,498,945 | 62,356 |
Shares | Market Value• ($000) | ||
Advance Auto Parts Inc. | 420,071 | 61,763 | |
* | Wynn Resorts Ltd. | 721,183 | 59,476 |
*,1 | Carnival Corp. | 6,984,289 | 56,293 |
Hasbro Inc. | 909,140 | 55,467 | |
Whirlpool Corp. | 381,532 | 53,971 | |
* | Mohawk Industries Inc. | 369,043 | 37,724 |
* | Norwegian Cruise Line Holdings Ltd. | 2,943,263 | 36,026 |
Newell Brands Inc. | 2,636,460 | 34,485 | |
Ralph Lauren Corp. Class A | 288,280 | 30,463 | |
Lennar Corp. Class B | 49,389 | 3,693 | |
21,989,733 | |||
Consumer Staples (7.2%) | |||
Procter & Gamble Co. | 16,554,330 | 2,508,974 | |
PepsiCo Inc. | 9,624,259 | 1,738,719 | |
Coca-Cola Co. | 27,188,908 | 1,729,487 | |
Costco Wholesale Corp. | 3,091,930 | 1,411,466 | |
Walmart Inc. | 9,859,867 | 1,398,031 | |
Philip Morris International Inc. | 10,829,556 | 1,096,059 | |
Mondelez International Inc. Class A | 9,540,449 | 635,871 | |
Altria Group Inc. | 12,519,893 | 572,284 | |
Colgate-Palmolive Co. | 5,834,690 | 459,715 | |
Estee Lauder Cos. Inc. Class A | 1,615,597 | 400,846 | |
Archer-Daniels-Midland Co. | 3,837,629 | 356,324 | |
General Mills Inc. | 4,146,544 | 347,688 | |
Kimberly-Clark Corp. | 2,357,685 | 320,056 | |
Sysco Corp. | 3,540,175 | 270,646 | |
* | Monster Beverage Corp. | 2,660,715 | 270,142 |
Constellation Brands Inc. Class A | 1,133,999 | 262,804 | |
Hershey Co. | 1,026,856 | 237,789 | |
Kraft Heinz Co. | 5,562,336 | 226,443 | |
Keurig Dr Pepper Inc. | 5,935,873 | 211,673 | |
Kroger Co. | 4,550,447 | 202,859 | |
Walgreens Boots Alliance Inc. | 5,014,207 | 187,331 | |
McCormick & Co. Inc. | 1,750,806 | 145,124 | |
Church & Dwight Co. Inc. | 1,703,770 | 137,341 | |
Conagra Brands Inc. | 3,348,405 | 129,583 | |
Kellogg Co. | 1,788,311 | 127,399 | |
Tyson Foods Inc. Class A | 2,023,343 | 125,953 | |
J M Smucker Co. | 744,534 | 117,979 | |
Hormel Foods Corp. | 2,019,529 | 91,990 | |
Lamb Weston Holdings Inc. | 1,004,895 | 89,798 | |
Clorox Co. | 611,901 | 85,868 | |
Brown-Forman Corp. Class B | 1,276,532 | 83,843 | |
Campbell Soup Co. | 1,400,553 | 79,481 | |
Molson Coors Beverage Co. Class B | 1,316,327 | 67,817 | |
16,127,383 |
Shares | Market Value• ($000) | ||
Energy (5.2%) | |||
Exxon Mobil Corp. | 28,769,668 | 3,173,294 | |
Chevron Corp. | 12,427,459 | 2,230,605 | |
ConocoPhillips | 8,704,876 | 1,027,175 | |
EOG Resources Inc. | 4,103,420 | 531,475 | |
Schlumberger Ltd. | 9,905,866 | 529,568 | |
Marathon Petroleum Corp. | 3,273,997 | 381,061 | |
Pioneer Natural Resources Co. | 1,659,831 | 379,089 | |
Phillips 66 | 3,301,761 | 343,647 | |
Valero Energy Corp. | 2,693,240 | 341,664 | |
Occidental Petroleum Corp. | 5,079,659 | 319,968 | |
Devon Energy Corp. | 4,566,482 | 280,884 | |
Williams Cos. Inc. | 8,508,887 | 279,942 | |
Hess Corp. | 1,938,405 | 274,905 | |
Kinder Morgan Inc. | 13,818,176 | 249,833 | |
Halliburton Co. | 6,343,410 | 249,613 | |
Baker Hughes Co. Class A | 6,996,090 | 206,595 | |
ONEOK Inc. | 3,122,351 | 205,138 | |
Diamondback Energy Inc. | 1,229,540 | 168,177 | |
Coterra Energy Inc. | 5,508,067 | 135,333 | |
Marathon Oil Corp. | 4,436,573 | 120,098 | |
Targa Resources Corp. | 1,581,455 | 116,237 | |
APA Corp. | 2,246,060 | 104,846 | |
EQT Corp. | 2,563,206 | 86,713 | |
11,735,860 | |||
Financials (11.6%) | |||
* | Berkshire Hathaway Inc. Class B | 12,586,504 | 3,887,971 |
JPMorgan Chase & Co. | 20,490,795 | 2,747,816 | |
Bank of America Corp. | 48,757,371 | 1,614,844 | |
Wells Fargo & Co. | 26,619,237 | 1,099,108 | |
Charles Schwab Corp. | 10,655,469 | 887,174 | |
Morgan Stanley | 9,209,102 | 782,958 | |
S&P Global Inc. | 2,326,287 | 779,167 | |
BlackRock Inc. | 1,049,243 | 743,525 | |
Goldman Sachs Group Inc. | 2,160,619 | 741,913 | |
Chubb Ltd. | 2,899,552 | 639,641 | |
American Express Co. | 4,176,032 | 617,009 | |
Citigroup Inc. | 13,530,194 | 611,971 | |
Marsh & McLennan Cos. Inc. | 3,465,116 | 573,407 | |
Progressive Corp. | 4,087,214 | 530,152 | |
PNC Financial Services Group Inc. | 2,817,522 | 444,999 | |
Aon plc Class A (XNYS) | 1,445,046 | 433,716 | |
CME Group Inc. | 2,512,909 | 422,571 | |
US Bancorp | 9,445,358 | 411,912 | |
Intercontinental Exchange Inc. | 3,901,860 | 400,292 | |
Truist Financial Corp. | 9,268,255 | 398,813 | |
MetLife Inc. | 4,604,205 | 333,206 | |
American International Group Inc. | 5,190,322 | 328,236 | |
Travelers Cos. Inc. | 1,637,222 | 306,963 | |
Moody's Corp. | 1,100,559 | 306,638 | |
Aflac Inc. | 3,952,925 | 284,373 | |
Arthur J Gallagher & Co. | 1,473,015 | 277,722 | |
MSCI Inc. Class A | 558,580 | 259,835 |
Shares | Market Value• ($000) | ||
Prudential Financial Inc. | 2,570,719 | 255,684 | |
Allstate Corp. | 1,852,693 | 251,225 | |
Capital One Financial Corp. | 2,666,332 | 247,862 | |
Bank of New York Mellon Corp. | 5,138,023 | 233,883 | |
Ameriprise Financial Inc. | 743,369 | 231,463 | |
Discover Financial Services | 1,908,584 | 186,717 | |
Willis Towers Watson plc | 756,137 | 184,936 | |
M&T Bank Corp. | 1,205,790 | 174,912 | |
T Rowe Price Group Inc. | 1,560,927 | 170,235 | |
Hartford Financial Services Group Inc. | 2,222,351 | 168,521 | |
* | Arch Capital Group Ltd. | 2,583,907 | 162,218 |
Fifth Third Bancorp | 4,794,906 | 157,321 | |
First Republic Bank | 1,277,915 | 155,765 | |
Nasdaq Inc. | 2,368,056 | 145,280 | |
Raymond James Financial Inc. | 1,352,390 | 144,503 | |
State Street Corp. | 1,857,608 | 144,095 | |
Huntington Bancshares Inc. | 10,078,156 | 142,102 | |
Regions Financial Corp. | 6,527,707 | 140,737 | |
Citizens Financial Group Inc. | 3,440,280 | 135,444 | |
Principal Financial Group Inc. | 1,589,644 | 133,403 | |
Northern Trust Corp. | 1,455,907 | 128,833 | |
KeyCorp. | 6,516,894 | 113,524 | |
Cincinnati Financial Corp. | 1,098,146 | 112,439 | |
FactSet Research Systems Inc. | 266,172 | 106,791 | |
W R Berkley Corp. | 1,426,924 | 103,552 | |
Synchrony Financial | 3,147,145 | 103,415 | |
* | SVB Financial Group | 412,875 | 95,019 |
Brown & Brown Inc. | 1,642,336 | 93,564 | |
Cboe Global Markets Inc. | 741,037 | 92,978 | |
Everest Re Group Ltd. | 273,434 | 90,580 | |
Loews Corp. | 1,376,557 | 80,295 | |
Globe Life Inc. | 630,966 | 76,063 | |
MarketAxess Holdings Inc. | 262,902 | 73,321 | |
Comerica Inc. | 914,786 | 61,153 | |
Invesco Ltd. | 3,184,883 | 57,296 | |
Franklin Resources Inc. | 1,986,995 | 52,417 | |
Zions Bancorp NA | 1,046,020 | 51,422 | |
Signature Bank | 440,307 | 50,732 | |
Assurant Inc. | 368,836 | 46,127 | |
Lincoln National Corp. | 1,079,362 | 33,158 | |
26,054,917 | |||
Health Care (15.7%) | |||
UnitedHealth Group Inc. | 6,527,209 | 3,460,596 | |
Johnson & Johnson | 18,264,468 | 3,226,418 | |
Eli Lilly & Co. | 5,509,360 | 2,015,544 | |
Pfizer Inc. | 39,213,758 | 2,009,313 | |
AbbVie Inc. | 12,354,337 | 1,996,584 | |
Merck & Co. Inc. | 17,711,979 | 1,965,144 |
Shares | Market Value• ($000) | ||
Thermo Fisher Scientific Inc. | 2,739,828 | 1,508,796 | |
Abbott Laboratories | 12,180,481 | 1,337,295 | |
Danaher Corp. | 4,576,880 | 1,214,796 | |
Bristol-Myers Squibb Co. | 14,853,076 | 1,068,679 | |
Amgen Inc. | 3,727,550 | 979,004 | |
Elevance Health Inc. | 1,668,402 | 855,840 | |
CVS Health Corp. | 9,179,143 | 855,404 | |
Gilead Sciences Inc. | 8,762,038 | 752,221 | |
Medtronic plc | 9,285,384 | 721,660 | |
Cigna Corp. | 2,135,889 | 707,706 | |
* | Intuitive Surgical Inc. | 2,468,691 | 655,067 |
Stryker Corp. | 2,352,879 | 575,255 | |
* | Regeneron Pharmaceuticals Inc. | 748,076 | 539,729 |
* | Vertex Pharmaceuticals Inc. | 1,793,239 | 517,852 |
Becton Dickinson and Co. | 1,992,412 | 506,670 | |
Zoetis Inc. | 3,255,955 | 477,160 | |
* | Boston Scientific Corp. | 10,006,418 | 462,997 |
Humana Inc. | 884,424 | 452,993 | |
* | Moderna Inc. | 2,308,113 | 414,583 |
McKesson Corp. | 990,509 | 371,560 | |
HCA Healthcare Inc. | 1,481,258 | 355,443 | |
* | Centene Corp. | 3,955,839 | 324,418 |
* | Edwards Lifesciences Corp. | 4,319,211 | 322,256 |
Agilent Technologies Inc. | 2,068,128 | 309,495 | |
* | DexCom Inc. | 2,698,399 | 305,567 |
* | Biogen Inc. | 1,006,003 | 278,582 |
* | IQVIA Holdings Inc. | 1,297,588 | 265,863 |
* | IDEXX Laboratories Inc. | 578,535 | 236,019 |
* | Mettler-Toledo International Inc. | 155,715 | 225,078 |
* | Illumina Inc. | 1,098,890 | 222,196 |
ResMed Inc. | 1,023,351 | 212,990 | |
AmerisourceBergen Corp. Class A | 1,131,359 | 187,478 | |
Zimmer Biomet Holdings Inc. | 1,466,156 | 186,935 | |
Baxter International Inc. | 3,521,865 | 179,509 | |
Laboratory Corp. of America Holdings | 618,954 | 145,751 | |
* | Waters Corp. | 415,020 | 142,178 |
Cardinal Health Inc. | 1,831,176 | 140,763 | |
* | Molina Healthcare Inc. | 407,953 | 134,714 |
* | Hologic Inc. | 1,744,176 | 130,482 |
STERIS plc | 697,365 | 128,796 | |
Quest Diagnostics Inc. | 795,632 | 124,469 | |
PerkinElmer Inc. | 881,345 | 123,582 | |
West Pharmaceutical Services Inc. | 517,237 | 121,732 | |
Cooper Cos. Inc. | 344,734 | 113,993 | |
* | Align Technology Inc. | 507,498 | 107,031 |
* | Incyte Corp. | 1,288,756 | 103,513 |
Viatris Inc. | 8,471,819 | 94,291 | |
Bio-Techne Corp. | 1,096,327 | 90,864 | |
Teleflex Inc. | 327,103 | 81,655 |
Shares | Market Value• ($000) | ||
* | Charles River Laboratories International Inc. | 355,826 | 77,535 |
* | Henry Schein Inc. | 948,603 | 75,765 |
* | Bio-Rad Laboratories Inc. Class A | 150,274 | 63,189 |
Universal Health Services Inc. Class B | 447,789 | 63,089 | |
* | Catalent Inc. | 1,255,372 | 56,504 |
Organon & Co. | 1,778,377 | 49,670 | |
DENTSPLY SIRONA Inc. | 1,498,434 | 47,710 | |
* | DaVita Inc. | 383,289 | 28,620 |
35,506,591 | |||
Industrials (8.6%) | |||
Raytheon Technologies Corp. | 10,269,508 | 1,036,399 | |
Honeywell International Inc. | 4,696,661 | 1,006,494 | |
Union Pacific Corp. | 4,294,837 | 889,332 | |
United Parcel Service Inc. Class B | 5,098,328 | 886,293 | |
Caterpillar Inc. | 3,635,408 | 870,898 | |
Deere & Co. | 1,918,712 | 822,667 | |
Lockheed Martin Corp. | 1,629,402 | 792,688 | |
* | Boeing Co. | 3,913,589 | 745,500 |
General Electric Co. | 7,633,197 | 639,586 | |
Northrop Grumman Corp. | 1,010,681 | 551,438 | |
3M Co. | 3,861,288 | 463,046 | |
CSX Corp. | 14,686,972 | 455,002 | |
Eaton Corp. plc | 2,778,206 | 436,039 | |
Illinois Tool Works Inc. | 1,952,779 | 430,197 | |
Waste Management Inc. | 2,609,478 | 409,375 | |
Norfolk Southern Corp. | 1,617,327 | 398,542 | |
Emerson Electric Co. | 4,130,634 | 396,789 | |
General Dynamics Corp. | 1,572,744 | 390,214 | |
Johnson Controls International plc | 4,810,935 | 307,900 | |
FedEx Corp. | 1,672,348 | 289,651 | |
L3Harris Technologies Inc. | 1,330,138 | 276,948 | |
Cintas Corp. | 602,976 | 272,316 | |
Trane Technologies plc | 1,608,772 | 270,419 | |
Parker-Hannifin Corp. | 896,966 | 261,017 | |
Carrier Global Corp. | 5,841,585 | 240,965 | |
PACCAR Inc. | 2,429,248 | 240,423 | |
Cummins Inc. | 985,106 | 238,681 | |
Otis Worldwide Corp. | 2,910,077 | 227,888 | |
TransDigm Group Inc. | 360,883 | 227,230 | |
AMETEK Inc. | 1,604,281 | 224,150 | |
* | CoStar Group Inc. | 2,841,057 | 219,557 |
Rockwell Automation Inc. | 802,199 | 206,622 | |
Verisk Analytics Inc. Class A | 1,092,520 | 192,742 | |
Fastenal Co. | 4,001,191 | 189,336 | |
Republic Services Inc. Class A | 1,434,908 | 185,089 | |
* | Copart Inc. | 2,993,609 | 182,281 |
Old Dominion Freight Line Inc. | 632,834 | 179,586 | |
WW Grainger Inc. | 314,197 | 174,772 |
Shares | Market Value• ($000) | ||
* | United Rentals Inc. | 484,162 | 172,081 |
Equifax Inc. | 855,307 | 166,237 | |
Fortive Corp. | 2,471,564 | 158,798 | |
Ingersoll Rand Inc. | 2,828,634 | 147,796 | |
* | Delta Air Lines Inc. | 4,479,258 | 147,188 |
Quanta Services Inc. | 998,270 | 142,254 | |
* | Southwest Airlines Co. | 4,148,033 | 139,664 |
Xylem Inc. | 1,258,938 | 139,201 | |
Dover Corp. | 980,447 | 132,762 | |
Westinghouse Air Brake Technologies Corp. | 1,270,490 | 126,808 | |
IDEX Corp. | 526,869 | 120,300 | |
Expeditors International of Washington Inc. | 1,111,755 | 115,534 | |
Jacobs Solutions Inc. | 891,522 | 107,045 | |
Textron Inc. | 1,458,522 | 103,263 | |
Howmet Aerospace Inc. | 2,572,317 | 101,375 | |
JB Hunt Transport Services Inc. | 578,630 | 100,890 | |
Leidos Holdings Inc. | 955,012 | 100,458 | |
Nordson Corp. | 376,304 | 89,455 | |
* | United Airlines Holdings Inc. | 2,280,297 | 85,967 |
Snap-on Inc. | 370,845 | 84,734 | |
Stanley Black & Decker Inc. | 1,033,365 | 77,626 | |
CH Robinson Worldwide Inc. | 822,204 | 75,281 | |
Masco Corp. | 1,575,259 | 73,517 | |
Allegion plc | 613,597 | 64,587 | |
Huntington Ingalls Industries Inc. | 278,928 | 64,343 | |
Rollins Inc. | 1,618,417 | 59,137 | |
* | American Airlines Group Inc. | 4,543,733 | 57,796 |
Robert Half International Inc. | 758,139 | 55,973 | |
Pentair plc | 1,151,616 | 51,800 | |
A O Smith Corp. | 887,155 | 50,781 | |
* | Generac Holdings Inc. | 443,559 | 44,649 |
* | Alaska Air Group Inc. | 888,183 | 38,139 |
19,423,511 | |||
Information Technology (25.6%) | |||
Apple Inc. | 104,463,441 | 13,572,935 | |
Microsoft Corp. | 52,075,614 | 12,488,774 | |
NVIDIA Corp. | 17,394,695 | 2,542,061 | |
Visa Inc. Class A | 11,421,979 | 2,373,030 | |
Mastercard Inc. Class A | 5,930,152 | 2,062,092 | |
Broadcom Inc. | 2,829,379 | 1,581,991 | |
Cisco Systems Inc. | 28,684,170 | 1,366,514 | |
Accenture plc Class A | 4,401,691 | 1,174,547 | |
* | Adobe Inc. | 3,247,726 | 1,092,957 |
Texas Instruments Inc. | 6,340,266 | 1,047,539 | |
* | Salesforce Inc. | 6,985,831 | 926,251 |
International Business Machines Corp. | 6,316,067 | 889,871 | |
Oracle Corp. | 10,736,078 | 877,567 | |
QUALCOMM Inc. | 7,831,172 | 860,959 | |
Intuit Inc. | 1,969,071 | 766,402 | |
Intel Corp. | 28,830,725 | 761,996 | |
* | Advanced Micro Devices Inc. | 11,263,709 | 729,550 |
Shares | Market Value• ($000) | ||
Automatic Data Processing Inc. | 2,898,024 | 692,222 | |
Analog Devices Inc. | 3,593,323 | 589,413 | |
Applied Materials Inc. | 6,010,125 | 585,266 | |
* | PayPal Holdings Inc. | 7,964,016 | 567,197 |
* | ServiceNow Inc. | 1,411,178 | 547,918 |
* | Fiserv Inc. | 4,436,330 | 448,380 |
Lam Research Corp. | 952,769 | 400,449 | |
Micron Technology Inc. | 7,594,948 | 379,595 | |
KLA Corp. | 990,071 | 373,286 | |
* | Synopsys Inc. | 1,068,270 | 341,088 |
Roper Technologies Inc. | 740,869 | 320,122 | |
Amphenol Corp. Class A | 4,157,568 | 316,557 | |
* | Cadence Design Systems Inc. | 1,916,388 | 307,849 |
Motorola Solutions Inc. | 1,168,139 | 301,041 | |
NXP Semiconductors NV | 1,810,398 | 286,097 | |
* | Autodesk Inc. | 1,508,014 | 281,803 |
Fidelity National Information Services Inc. | 4,145,263 | 281,256 | |
Microchip Technology Inc. | 3,842,590 | 269,942 | |
Paychex Inc. | 2,240,875 | 258,955 | |
TE Connectivity Ltd. | 2,222,181 | 255,106 | |
* | Enphase Energy Inc. | 949,588 | 251,603 |
* | Fortinet Inc. | 4,529,964 | 221,470 |
* | Keysight Technologies Inc. | 1,249,127 | 213,688 |
* | Arista Networks Inc. | 1,729,165 | 209,834 |
Cognizant Technology Solutions Corp. Class A | 3,590,384 | 205,334 | |
* | ON Semiconductor Corp. | 3,020,980 | 188,418 |
Global Payments Inc. | 1,889,043 | 187,620 | |
* | Gartner Inc. | 552,050 | 185,566 |
Corning Inc. | 5,317,920 | �� 169,854 | |
CDW Corp. | 945,933 | 168,925 | |
HP Inc. | 6,184,299 | 166,172 | |
* | ANSYS Inc. | 608,658 | 147,046 |
Hewlett Packard Enterprise Co. | 8,989,198 | 143,468 | |
* | VeriSign Inc. | 644,357 | 132,377 |
* | EPAM Systems Inc. | 401,799 | 131,686 |
* | Teledyne Technologies Inc. | 327,448 | 130,950 |
* | SolarEdge Technologies Inc. | 390,522 | 110,623 |
Broadridge Financial Solutions Inc. | 822,011 | 110,256 | |
Monolithic Power Systems Inc. | 311,544 | 110,165 | |
* | Paycom Software Inc. | 339,565 | 105,370 |
* | First Solar Inc. | 692,620 | 103,748 |
Skyworks Solutions Inc. | 1,119,782 | 102,046 | |
Teradyne Inc. | 1,087,157 | 94,963 | |
* | FleetCor Technologies Inc. | 515,320 | 94,654 |
* | Tyler Technologies Inc. | 290,475 | 93,652 |
* | Akamai Technologies Inc. | 1,098,632 | 92,615 |
Shares | Market Value• ($000) | ||
* | Zebra Technologies Corp. Class A | 360,655 | 92,476 |
NetApp Inc. | 1,518,659 | 91,211 | |
Jack Henry & Associates Inc. | 508,827 | 89,330 | |
* | PTC Inc. | 737,551 | 88,536 |
* | Trimble Inc. | 1,721,371 | 87,032 |
Gen Digital Inc. | 4,050,171 | 86,795 | |
Juniper Networks Inc. | 2,266,653 | 72,442 | |
Seagate Technology Holdings plc | 1,340,639 | 70,531 | |
* | Western Digital Corp. | 2,218,321 | 69,988 |
* | Ceridian HCM Holding Inc. | 1,073,090 | 68,839 |
* | Qorvo Inc. | 707,850 | 64,159 |
* | F5 Inc. | 417,682 | 59,942 |
* | DXC Technology Co. | 1,607,782 | 42,606 |
57,774,568 | |||
Materials (2.7%) | |||
Linde plc | 3,453,726 | 1,126,536 | |
Air Products and Chemicals Inc. | 1,549,479 | 477,642 | |
Sherwin-Williams Co. | 1,647,405 | 390,979 | |
Freeport-McMoRan Inc. | 9,985,014 | 379,430 | |
Corteva Inc. | 4,991,497 | 293,400 | |
Newmont Corp. | 5,544,907 | 261,720 | |
Ecolab Inc. | 1,731,071 | 251,975 | |
Dow Inc. | 4,916,312 | 247,733 | |
DuPont de Nemours Inc. | 3,470,556 | 238,184 | |
Nucor Corp. | 1,792,153 | 236,224 | |
PPG Industries Inc. | 1,641,856 | 206,447 | |
International Flavors & Fragrances Inc. | 1,781,145 | 186,735 | |
Albemarle Corp. | 818,458 | 177,491 | |
Vulcan Materials Co. | 928,516 | 162,592 | |
LyondellBasell Industries NV Class A | 1,774,279 | 147,318 | |
Martin Marietta Materials Inc. | 433,727 | 146,587 | |
Amcor plc | 10,402,400 | 123,893 | |
CF Industries Holdings Inc. | 1,370,571 | 116,773 | |
Steel Dynamics Inc. | 1,165,185 | 113,838 | |
Ball Corp. | 2,191,387 | 112,067 | |
FMC Corp. | 880,103 | 109,837 | |
Mosaic Co. | 2,378,523 | 104,346 | |
Avery Dennison Corp. | 565,721 | 102,395 | |
International Paper Co. | 2,484,633 | 86,043 | |
Packaging Corp. of America | 646,397 | 82,681 | |
Celanese Corp. Class A | 696,213 | 71,181 | |
Eastman Chemical Co. | 837,252 | 68,186 | |
Westrock Co. | 1,779,653 | 62,573 | |
Sealed Air Corp. | 1,009,206 | 50,339 | |
6,135,145 | |||
Real Estate (2.7%) | |||
Prologis Inc. | 6,448,545 | 726,944 | |
American Tower Corp. | 3,252,672 | 689,111 | |
Equinix Inc. | 646,464 | 423,453 | |
Crown Castle Inc. | 3,025,270 | 410,348 | |
Public Storage | 1,104,331 | 309,422 |
Shares | Market Value• ($000) | ||
Realty Income Corp. | 4,381,504 | 277,919 | |
Simon Property Group Inc. | 2,283,971 | 268,321 | |
VICI Properties Inc. | 6,728,455 | 218,002 | |
Welltower Inc. | 3,300,992 | 216,380 | |
SBA Communications Corp. Class A | 754,272 | 211,430 | |
Digital Realty Trust Inc. | 2,008,625 | 201,405 | |
* | CBRE Group Inc. Class A | 2,207,104 | 169,859 |
Weyerhaeuser Co. | 5,141,539 | 159,388 | |
AvalonBay Communities Inc. | 977,436 | 157,875 | |
Alexandria Real Estate Equities Inc. | 1,043,221 | 151,966 | |
Equity Residential | 2,376,363 | 140,205 | |
Extra Space Storage Inc. | 935,561 | 137,696 | |
Mid-America Apartment Communities Inc. | 806,872 | 126,671 | |
Ventas Inc. | 2,792,494 | 125,802 | |
Invitation Homes Inc. | 4,058,060 | 120,281 | |
Iron Mountain Inc. | 2,030,969 | 101,244 | |
Essex Property Trust Inc. | 452,332 | 95,858 | |
Healthpeak Properties Inc. | 3,755,908 | 94,161 | |
Kimco Realty Corp. | 4,326,458 | 91,634 | |
Camden Property Trust | 743,605 | 83,195 | |
UDR Inc. | 2,136,689 | 82,754 | |
Host Hotels & Resorts Inc. | 4,994,963 | 80,169 | |
Boston Properties Inc. | 995,021 | 67,243 | |
Regency Centers Corp. | 1,073,795 | 67,112 | |
Federal Realty Investment Trust | 509,250 | 51,455 | |
Vornado Realty Trust | 1,128,914 | 23,493 | |
6,080,796 | |||
Utilities (3.2%) | |||
NextEra Energy Inc. | 13,881,946 | 1,160,531 | |
Duke Energy Corp. | 5,379,541 | 554,039 | |
Southern Co. | 7,605,341 | 543,097 | |
Dominion Energy Inc. | 5,820,880 | 356,936 | |
American Electric Power Co. Inc. | 3,589,726 | 340,844 | |
Sempra Energy (XNYS) | 2,195,895 | 339,354 | |
Exelon Corp. | 6,941,997 | 300,102 | |
Xcel Energy Inc. | 3,823,186 | 268,044 | |
Consolidated Edison Inc. | 2,478,900 | 236,264 |
Shares | Market Value• ($000) | ||
Public Service Enterprise Group Inc. | 3,485,389 | 213,550 | |
WEC Energy Group Inc. | 2,203,573 | 206,607 | |
Eversource Energy | 2,433,442 | 204,020 | |
Constellation Energy Corp. | 2,284,478 | 196,945 | |
American Water Works Co. Inc. | 1,270,281 | 193,616 | |
* | PG&E Corp. | 11,247,513 | 182,884 |
Edison International | 2,667,668 | 169,717 | |
Ameren Corp. | 1,806,005 | 160,590 | |
Entergy Corp. | 1,421,547 | 159,924 | |
FirstEnergy Corp. | 3,794,511 | 159,142 | |
DTE Energy Co. | 1,353,356 | 159,060 | |
PPL Corp. | 5,143,910 | 150,305 | |
AES Corp. | 4,666,190 | 134,200 | |
CenterPoint Energy Inc. | 4,397,213 | 131,872 | |
CMS Energy Corp. | 2,027,595 | 128,408 | |
Atmos Energy Corp. | 977,449 | 109,543 | |
Evergy Inc. | 1,603,609 | 100,915 | |
Alliant Energy Corp. | 1,751,595 | 96,705 | |
NiSource Inc. | 2,841,803 | 77,922 | |
Pinnacle West Capital Corp. | 791,159 | 60,160 | |
NRG Energy Inc. | 1,606,342 | 51,114 | |
7,146,410 | |||
Total Common Stocks (Cost $90,901,279) | 224,314,468 | ||
Temporary Cash Investments (0.4%) | |||
Money Market Fund (0.4%) | |||
2,3 | Vanguard Market Liquidity Fund, 4.334% (Cost $899,062) | 8,992,638 | 899,174 |
Total Investments (99.9%) (Cost $91,800,341) | 225,213,642 | ||
Other Assets and Liabilities—Net (0.1%) | 263,727 | ||
Net Assets (100%) | 225,477,369 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $20,636,000. |
2 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
3 | Collateral of $22,190,000 was received for securities on loan. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-Mini S&P 500 Index | March 2023 | 4,835 | 933,397 | (19,342) |
Over-the-Counter Total Return Swaps | ||||||
Reference Entity | Termination Date | Counterparty | Notional Amount ($000) | Floating Interest Rate Received (Paid)1 (%) | Value and Unrealized Appreciation ($000) | Value and Unrealized (Depreciation) ($000) |
Clorox Co. | 1/31/23 | GSI | 36,592 | (4.323) | — | (1,580) |
Goldman Sachs Group Inc. | 8/30/24 | BANA | 54,941 | (4.693) | 159 | — |
Goldman Sachs Group Inc. | 8/30/24 | BANA | 15,452 | (4.693) | 44 | — |
State Street Corp. | 8/30/24 | BANA | 54,299 | (4.693) | 223 | — |
426 | (1,580) |
1 | Based on 1M USD Overnight Bank Funding Rate as of the most recent payment date. Floating interest payment received/paid monthly. |
1M—1-month. | |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $90,901,279) | 224,314,468 |
Affiliated Issuers (Cost $899,062) | 899,174 |
Total Investments in Securities | 225,213,642 |
Investment in Vanguard | 8,832 |
Cash | 10,055 |
Cash Collateral Pledged—Futures Contracts | 51,280 |
Cash Collateral Pledged—Over-the-Counter Swap Contracts | 10,790 |
Receivables for Investment Securities Sold | 698,208 |
Receivables for Accrued Income | 198,726 |
Receivables for Capital Shares Issued | 175,557 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 426 |
Total Assets | 226,367,516 |
Liabilities | |
Payables for Investment Securities Purchased | 12,951 |
Collateral for Securities on Loan | 22,190 |
Payables for Capital Shares Redeemed | 848,276 |
Payables to Vanguard | 2,624 |
Variation Margin Payable—Futures Contracts | 2,526 |
Unrealized Depreciation—Over-the-Counter Swap Contracts | 1,580 |
Total Liabilities | 890,147 |
Net Assets | 225,477,369 |
1 Includes $20,636,000 of securities on loan. | |
At December 31, 2022, net assets consisted of: | |
Paid-in Capital | 91,294,679 |
Total Distributable Earnings (Loss) | 134,182,690 |
Net Assets | 225,477,369 |
Institutional Shares—Net Assets | |
Applicable to 299,033,981 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 96,178,509 |
Net Asset Value Per Share—Institutional Shares | $321.63 |
Institutional Plus Shares—Net Assets | |
Applicable to 402,020,617 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 129,298,860 |
Net Asset Value Per Share—Institutional Plus Shares | $321.62 |
Year Ended December 31, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 4,117,287 |
Interest2 | 12,720 |
Securities Lending—Net | 920 |
Total Income | 4,130,927 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 3,806 |
Management and Administrative—Institutional Shares | 32,155 |
Management and Administrative—Institutional Plus Shares | 22,170 |
Marketing and Distribution—Institutional Shares | 2,650 |
Marketing and Distribution—Institutional Plus Shares | 4,142 |
Custodian Fees | 985 |
Auditing Fees | 31 |
Shareholders’ Reports—Institutional Shares | 363 |
Shareholders’ Reports—Institutional Plus Shares | 665 |
Trustees’ Fees and Expenses | 95 |
Other Expenses | 39 |
Total Expenses | 67,101 |
Expenses Paid Indirectly | (6) |
Net Expenses | 67,095 |
Net Investment Income | 4,063,832 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 14,663,550 |
Futures Contracts | (200,215) |
Swap Contracts | (13,460) |
Realized Net Gain (Loss) | 14,449,875 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (73,020,285) |
Futures Contracts | (42,238) |
Swap Contracts | (1,529) |
Change in Unrealized Appreciation (Depreciation) | (73,064,052) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (54,550,345) |
1 | Dividends are net of foreign withholding taxes of $978,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $12,276,000, ($100,000), $2,000, and $114,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $11,078,870,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended December 31, | ||
2022 ($000) | 2021 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 4,063,832 | 3,874,070 |
Realized Net Gain (Loss) | 14,449,875 | 16,602,502 |
Change in Unrealized Appreciation (Depreciation) | (73,064,052) | 50,863,901 |
Net Increase (Decrease) in Net Assets Resulting from Operations | (54,550,345) | 71,340,473 |
Distributions | ||
Institutional Shares | (3,275,361) | (6,220,924) |
Institutional Plus Shares | (4,563,380) | (8,234,215) |
Total Distributions | (7,838,741) | (14,455,139) |
Capital Share Transactions | ||
Institutional Shares | (6,285,999) | (15,740,353) |
Institutional Plus Shares | (10,703,285) | 2,524,999 |
Net Increase (Decrease) from Capital Share Transactions | (16,989,284) | (13,215,354) |
Total Increase (Decrease) | (79,378,370) | 43,669,980 |
Net Assets | ||
Beginning of Period | 304,855,739 | 261,185,759 |
End of Period | 225,477,369 | 304,855,739 |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended December 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net Asset Value, Beginning of Period | $405.79 | $331.47 | $290.23 | $227.55 | $243.46 |
Investment Operations | |||||
Net Investment Income1 | 5.515 | 5.048 | 5.261 | 5.203 | 5.059 |
Net Realized and Unrealized Gain (Loss) on Investments | (78.817) | 88.637 | 46.122 | 65.746 | (15.434) |
Total from Investment Operations | (73.302) | 93.685 | 51.383 | 70.949 | (10.375) |
Distributions | |||||
Dividends from Net Investment Income | (5.584) | (5.199) | (5.273) | (5.550) | (4.837) |
Distributions from Realized Capital Gains | (5.274) | (14.166) | (4.870) | (2.719) | (.698) |
Total Distributions | (10.858) | (19.365) | (10.143) | (8.269) | (5.535) |
Net Asset Value, End of Period | $321.63 | $405.79 | $331.47 | $290.23 | $227.55 |
Total Return | -18.14% | 28.67% | 18.39% | 31.46% | -4.42% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $96,179 | $128,441 | $119,012 | $116,814 | $104,296 |
Ratio of Total Expenses to Average Net Assets | 0.035%2 | 0.035% | 0.035% | 0.035% | 0.035% |
Ratio of Net Investment Income to Average Net Assets | 1.58% | 1.35% | 1.83% | 1.98% | 2.03% |
Portfolio Turnover Rate3 | 3% | 3% | 4% | 4% | 6% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.035%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
Institutional Plus Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended December 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net Asset Value, Beginning of Period | $405.80 | $331.48 | $290.25 | $227.57 | $243.48 |
Investment Operations | |||||
Net Investment Income1 | 5.563 | 5.117 | 5.310 | 5.252 | 5.167 |
Net Realized and Unrealized Gain (Loss) on Investments | (78.832) | 88.627 | 46.108 | 65.739 | (15.503) |
Total from Investment Operations | (73.269) | 93.744 | 51.418 | 70.991 | (10.336) |
Distributions | |||||
Dividends from Net Investment Income | (5.637) | (5.256) | (5.318) | (5.592) | (4.876) |
Distributions from Realized Capital Gains | (5.274) | (14.168) | (4.870) | (2.719) | (.698) |
Total Distributions | (10.911) | (19.424) | (10.188) | (8.311) | (5.574) |
Net Asset Value, End of Period | $321.62 | $405.80 | $331.48 | $290.25 | $227.57 |
Total Return | -18.13% | 28.69% | 18.41% | 31.48% | -4.41% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $129,299 | $176,415 | $142,174 | $125,359 | $95,707 |
Ratio of Total Expenses to Average Net Assets | 0.02%2 | 0.02% | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.60% | 1.37% | 1.84% | 1.99% | 2.05% |
Portfolio Turnover Rate3 | 3% | 3% | 4% | 4% | 6% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.02%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset arrangements reduced the fund’s expenses by $6,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 224,314,468 | — | — | 224,314,468 |
Temporary Cash Investments | 899,174 | — | — | 899,174 |
Total | 225,213,642 | — | — | 225,213,642 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 426 | — | 426 |
Liabilities | ||||
Futures Contracts1 | 19,342 | — | — | 19,342 |
Swap Contracts | — | 1,580 | — | 1,580 |
Total | 19,342 | 1,580 | — | 20,922 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions, distributions in connection with fund share redemptions, and swap agreements were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 11,366,168 |
Total Distributable Earnings (Loss) | (11,366,168) |
Amount ($000) | |
Undistributed Ordinary Income | 33,206 |
Undistributed Long-Term Gains | 872,566 |
Capital Loss Carryforwards | — |
Qualified Late-Year Losses | — |
Net Unrealized Gains (Losses) | 133,276,918 |
Year Ended December 31, | ||
2022 Amount ($000) | 2021 Amount ($000) | |
Ordinary Income* | 4,113,594 | 4,355,593 |
Long-Term Capital Gains | 3,725,147 | 10,099,546 |
Total | 7,838,741 | 14,455,139 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 91,936,724 |
Gross Unrealized Appreciation | 141,547,910 |
Gross Unrealized Depreciation | (8,270,992) |
Net Unrealized Appreciation (Depreciation) | 133,276,918 |
F. | During the year ended December 31, 2022, the fund purchased $8,026,511,000 of investment securities and sold $28,709,890,000 of investment securities, other than temporary cash investments. Purchases and sales include $271,089,000 and $15,718,619,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Year Ended December 31, | |||||
2022 | 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 12,505,429 | 35,741 | 14,069,993 | 38,135 | |
Issued in Lieu of Cash Distributions | 3,010,907 | 8,978 | 5,724,040 | 14,937 | |
Redeemed | (21,802,335) | (62,209) | (35,534,386) | (95,588) | |
Net Increase (Decrease)—Institutional Shares | (6,285,999) | (17,490) | (15,740,353) | (42,516) |
Year Ended December 31, | |||||
2022 | 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Plus Shares | |||||
Issued | 22,460,474 | 63,934 | 26,784,719 | 72,216 | |
Issued in Lieu of Cash Distributions | 4,382,443 | 13,060 | 7,927,526 | 20,596 | |
Redeemed | (37,546,202) | (109,705) | (32,187,246) | (86,981) | |
Net Increase (Decrease)—Institutional Plus Shares | (10,703,285) | (32,711) | 2,524,999 | 5,831 |
H. | Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
February 15, 2023
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Your Fund’s Performance at a Glance | 1 |
About Your Fund’s Expenses | 2 |
Performance Summary | 4 |
Financial Statements | 6 |
• | For the 12 months ended December 31, 2022, Vanguard Institutional Total Stock Market Index Fund returned –19.49% for both Institutional Shares and Institutional Plus Shares. |
• | The period was a volatile, challenging one for financial markets. Overall, the economic backdrop deteriorated as inflation soared to multidecade highs, driven by government spending during the pandemic as well as higher energy and food prices in the wake of Russia’s invasion of Ukraine. That prompted aggressive tightening by many central banks to bring inflation back in check, which increased fears of recession. |
• | The fund, which offers investors exposure to every segment, size, and style of the U.S. equity market, closely tracked its target index, the CRSP US Total Market Index. |
• | The majority of the 11 sectors recorded negative returns for the 12 months. Technology, financial, consumer discretionary, and industrial stocks hurt performance the most. |
• | For the 10 years ended December 31 2022, the fund posted average annual returns of 12.12% for Institutional Shares and 12.13% for Institutional Plus Shares. |
Average Annual Total Returns Periods Ended December 31, 2022 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | -19.13% | 7.35% | 9.13% |
Russell 2000 Index (Small-caps) | -20.44 | 3.10 | 4.13 |
Russell 3000 Index (Broad U.S. market) | -19.21 | 7.07 | 8.79 |
FTSE All-World ex US Index (International) | -15.49 | 0.61 | 1.28 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | -13.07% | -2.67% | 0.06% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | -8.53 | -0.77 | 1.25 |
FTSE Three-Month U.S. Treasury Bill Index | 1.50 | 0.70 | 1.24 |
CPI | |||
Consumer Price Index | 6.45% | 4.92% | 3.78% |
• | Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. |
• | Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. |
Six Months Ended December 31, 2022 | |||
Beginning Account Value 6/30/2022 | Ending Account Value 12/31/2022 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Institutional Total Stock Market Index Fund | |||
Institutional Shares | $1,000.00 | $1,023.90 | $0.15 |
Institutional Plus Shares | 1,000.00 | 1,023.90 | 0.10 |
Based on Hypothetical 5% Yearly Return | |||
Institutional Total Stock Market Index Fund | |||
Institutional Shares | $1,000.00 | $1,025.05 | $0.15 |
Institutional Plus Shares | 1,000.00 | 1,025.11 | 0.10 |
Average Annual Total Returns Periods Ended December 31, 2022 | |||||
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Institutional Total Stock Market Index Fund Institutional Shares | -19.49% | 8.74% | 12.12% | $15,695,424 | |
Spliced Institutional Total Stock Market Index | -19.49 | 8.73 | 12.10 | 15,668,043 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | -19.53 | 8.65 | 12.03 | 15,575,514 |
One Year | Five Years | Ten Years | Final Value of a $100,000,000 Investment | ||
Institutional Total Stock Market Index Fund Institutional Plus Shares | -19.49% | 8.75% | 12.13% | $314,184,830 | |
Spliced Institutional Total Stock Market Index | -19.49 | 8.73 | 12.10 | 313,360,860 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | -19.53 | 8.65 | 12.03 | 311,510,280 |
Basic Materials | 2.2% |
Consumer Discretionary | 13.2 |
Consumer Staples | 6.0 |
Energy | 5.4 |
Financials | 11.9 |
Health Care | 14.9 |
Industrials | 13.7 |
Real Estate | 3.4 |
Technology | 23.4 |
Telecommunications | 2.4 |
Utilities | 3.5 |
Other | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.4%) | |||
Basic Materials (2.2%) | |||
Linde plc | 331,756 | 108,212 | |
Air Products and Chemicals Inc. | 148,893 | 45,898 | |
Freeport-McMoRan Inc. | 961,268 | 36,528 | |
Newmont Corp. | 532,789 | 25,148 | |
Ecolab Inc. | 171,948 | 25,029 | |
Dow Inc. | 471,020 | 23,735 | |
Nucor Corp. | 172,006 | 22,672 | |
Fastenal Co. | 384,317 | 18,186 | |
International Flavors & Fragrances Inc. | 171,808 | 18,012 | |
Albemarle Corp. | 78,945 | 17,120 | |
LyondellBasell Industries NV Class A | 175,046 | 14,534 | |
CF Industries Holdings Inc. | 130,898 | 11,153 | |
Steel Dynamics Inc. | 112,204 | 10,962 | |
FMC Corp. | 84,941 | 10,601 | |
Mosaic Co. | 226,951 | 9,956 | |
Avery Dennison Corp. | 53,993 | 9,773 | |
International Paper Co. | 238,995 | 8,276 | |
Reliance Steel & Aluminum Co. | 39,056 | 7,907 | |
Celanese Corp. Class A | 65,298 | 6,676 | |
Eastman Chemical Co. | 79,571 | 6,480 | |
* | Cleveland-Cliffs Inc. | 343,392 | 5,532 |
Alcoa Corp. | 118,486 | 5,388 | |
Royal Gold Inc. | 44,834 | 5,054 | |
Olin Corp. | 92,027 | 4,872 | |
* | RBC Bearings Inc. | 19,549 | 4,093 |
Valvoline Inc. | 116,042 | 3,789 | |
Commercial Metals Co. | 77,813 | 3,758 | |
United States Steel Corp. | 143,399 | 3,592 | |
* | Univar Solutions Inc. | 112,656 | 3,582 |
Ashland Inc. | 32,788 | 3,526 | |
Hexcel Corp. | 56,664 | 3,335 | |
Huntsman Corp. | 113,915 | 3,130 | |
Timken Co. | 43,587 | 3,080 | |
UFP Industries Inc. | 38,848 | 3,079 | |
Chemours Co. | 99,499 | 3,047 | |
Balchem Corp. | 21,787 | 2,660 | |
Element Solutions Inc. | 144,307 | 2,625 |
Shares | Market Value• ($000) | ||
Cabot Corp. | 37,519 | 2,508 | |
* | Livent Corp. | 120,458 | 2,394 |
1 | Westlake Corp. | 21,298 | 2,184 |
Hecla Mining Co. | 388,152 | 2,158 | |
Mueller Industries Inc. | 35,661 | 2,104 | |
Avient Corp. | 61,461 | 2,075 | |
Sensient Technologies Corp. | 28,345 | 2,067 | |
Boise Cascade Co. | 26,861 | 1,845 | |
* | MP Materials Corp. | 71,504 | 1,736 |
Innospec Inc. | 16,731 | 1,721 | |
* | Ingevity Corp. | 23,962 | 1,688 |
NewMarket Corp. | 4,964 | 1,544 | |
Stepan Co. | 13,885 | 1,478 | |
* | Arconic Corp. | 69,724 | 1,475 |
Quaker Chemical Corp. | 8,774 | 1,464 | |
Scotts Miracle-Gro Co. | 28,203 | 1,370 | |
Minerals Technologies Inc. | 21,061 | 1,279 | |
Materion Corp. | 13,913 | 1,218 | |
Sylvamo Corp. | 24,912 | 1,210 | |
Carpenter Technology Corp. | 32,584 | 1,204 | |
Tronox Holdings plc Class A | 75,701 | 1,038 | |
Worthington Industries Inc. | 20,167 | 1,003 | |
* | Uranium Energy Corp. | 255,883 | 993 |
Compass Minerals International Inc. | 23,465 | 962 | |
Kaiser Aluminum Corp. | 10,346 | 786 | |
Mativ Holdings Inc. | 36,224 | 757 | |
AdvanSix Inc. | 18,107 | 688 | |
* | Resolute Forest Products Inc. | 31,686 | 684 |
GrafTech International Ltd. | 130,921 | 623 | |
* | US Silica Holdings Inc. | 49,324 | 617 |
*,1 | Energy Fuels Inc. | 98,692 | 613 |
* | TimkenSteel Corp. | 30,310 | 551 |
* | Coeur Mining Inc. | 159,968 | 537 |
Hawkins Inc. | 13,562 | 524 | |
* | LSB Industries Inc. | 38,662 | 514 |
Schnitzer Steel Industries Inc. Class A | 15,798 | 484 | |
* | Piedmont Lithium Inc. ADR | 10,717 | 472 |
Shares | Market Value• ($000) | ||
* | Ecovyst Inc. | 52,814 | 468 |
* | Clearwater Paper Corp. | 12,189 | 461 |
Ryerson Holding Corp. | 14,829 | 449 | |
* | Rayonier Advanced Materials Inc. | 44,937 | 431 |
American Vanguard Corp. | 18,120 | 393 | |
Koppers Holdings Inc. | 13,873 | 391 | |
Haynes International Inc. | 8,020 | 366 | |
* | Origin Materials Inc. | 68,152 | 314 |
* | Century Aluminum Co. | 35,645 | 292 |
* | Northwest Pipe Co. | 7,200 | 243 |
*,1 | Amyris Inc. | 146,670 | 224 |
Tredegar Corp. | 21,461 | 219 | |
Omega Flex Inc. | 2,211 | 206 | |
Olympic Steel Inc. | 5,760 | 193 | |
*,1 | 5e Advanced Materials Inc. | 21,439 | 169 |
* | Intrepid Potash Inc. | 5,697 | 164 |
FutureFuel Corp. | 19,183 | 156 | |
*,1 | Ur-Energy Inc. | 127,999 | 147 |
* | Gatos Silver Inc. | 31,927 | 131 |
* | Alto Ingredients Inc. | 44,278 | 128 |
1 | Northern Technologies International Corp. | 8,108 | 108 |
*,1 | Dakota Gold Corp. | 34,870 | 106 |
* | AgroFresh Solutions Inc. | 33,898 | 100 |
Eastern Co. | 4,309 | 83 | |
Glatfelter Corp. | 29,576 | 82 | |
Gold Resource Corp. | 50,034 | 77 | |
* | Unifi Inc. | 8,861 | 76 |
*,1 | Hycroft Mining Holding Corp. | 110,726 | 59 |
* | Perma-Pipe International Holdings Inc. | 5,795 | 55 |
* | Universal Stainless & Alloy Products Inc. | 6,638 | 48 |
Culp Inc. | 10,134 | 47 | |
* | NN Inc. | 25,826 | 39 |
* | US Gold Corp. | 8,013 | 38 |
* | Golden Minerals Co. | 132,802 | 36 |
* | Ampco-Pittsburgh Corp. | 12,799 | 32 |
* | CPS Technologies Corp. | 9,761 | 26 |
United-Guardian Inc. | 2,129 | 22 | |
* | Synalloy Corp. | 1,863 | 16 |
* | Comstock Inc. | 10,603 | 3 |
* | Hycroft Mining Holding Corp.Warrants Exp. 10/6/25 | 20,000 | 1 |
554,167 | |||
Consumer Discretionary (13.1%) | |||
* | Amazon.com Inc. | 5,821,400 | 488,998 |
* | Tesla Inc. | 1,800,209 | 221,750 |
Home Depot Inc. | 684,452 | 216,191 | |
Costco Wholesale Corp. | 296,761 | 135,471 | |
McDonald's Corp. | 490,932 | 129,375 | |
Walmart Inc. | 910,204 | 129,058 | |
* | Walt Disney Co. | 1,223,895 | 106,332 |
NIKE Inc. Class B | 844,798 | 98,850 | |
* | Netflix Inc. | 298,672 | 88,072 |
Shares | Market Value• ($000) | ||
Lowe's Cos. Inc. | 405,688 | 80,829 | |
Starbucks Corp. | 769,882 | 76,372 | |
TJX Cos. Inc. | 740,209 | 58,921 | |
* | Booking Holdings Inc. | 26,011 | 52,419 |
Target Corp. | 308,580 | 45,991 | |
Dollar General Corp. | 151,152 | 37,221 | |
Activision Blizzard Inc. | 472,549 | 36,174 | |
* | O'Reilly Automotive Inc. | 42,001 | 35,450 |
Estee Lauder Cos. Inc. Class A | 139,887 | 34,707 | |
* | Uber Technologies Inc. | 1,274,577 | 31,520 |
* | AutoZone Inc. | 12,711 | 31,348 |
Ford Motor Co. | 2,658,174 | 30,915 | |
General Motors Co. | 907,693 | 30,535 | |
Marriott International Inc. Class A | 191,346 | 28,490 | |
Ross Stores Inc. | 233,892 | 27,148 | |
* | Lululemon Athletica Inc. | 82,118 | 26,309 |
* | Chipotle Mexican Grill Inc. Class A | 18,611 | 25,823 |
Yum! Brands Inc. | 188,621 | 24,159 | |
Hilton Worldwide Holdings Inc. | 183,380 | 23,172 | |
Electronic Arts Inc. | 184,917 | 22,593 | |
* | Airbnb Inc. Class A | 239,503 | 20,478 |
* | Dollar Tree Inc. | 141,491 | 20,013 |
DR Horton Inc. | 208,091 | 18,549 | |
* | Copart Inc. | 289,287 | 17,615 |
Genuine Parts Co. | 97,498 | 16,917 | |
* | Aptiv plc | 180,846 | 16,842 |
Tractor Supply Co. | 73,842 | 16,612 | |
* | Ulta Beauty Inc. | 34,413 | 16,142 |
eBay Inc. | 362,506 | 15,033 | |
Lennar Corp. Class A | 165,559 | 14,983 | |
* | Delta Air Lines Inc. | 427,371 | 14,043 |
* | Warner Bros Discovery Inc. | 1,457,929 | 13,821 |
* | Southwest Airlines Co. | 404,134 | 13,607 |
* | Trade Desk Inc. Class A | 300,943 | 13,491 |
* | Take-Two Interactive Software Inc. | 112,131 | 11,676 |
Darden Restaurants Inc. | 81,494 | 11,273 | |
* | Las Vegas Sands Corp. | 232,429 | 11,173 |
Omnicom Group Inc. | 136,304 | 11,118 | |
Best Buy Co. Inc. | 135,167 | 10,842 | |
* | Etsy Inc. | 85,254 | 10,212 |
Garmin Ltd. | 102,716 | 9,480 | |
* | NVR Inc. | 2,042 | 9,419 |
LKQ Corp. | 171,995 | 9,186 | |
* | Expedia Group Inc. | 102,698 | 8,996 |
* | Burlington Stores Inc. | 43,528 | 8,826 |
Interpublic Group of Cos. Inc. | 259,197 | 8,634 | |
Domino's Pizza Inc. | 23,736 | 8,222 | |
* | United Airlines Holdings Inc. | 217,744 | 8,209 |
* | Liberty Media Corp.-Liberty Formula One Class C | 135,522 | 8,102 |
* | Rivian Automotive Inc. Class A | 427,909 | 7,886 |
* | Live Nation Entertainment Inc. | 108,219 | 7,547 |
Shares | Market Value• ($000) | ||
Pool Corp. | 24,758 | 7,485 | |
* | Deckers Outdoor Corp. | 18,044 | 7,202 |
Aramark | 172,307 | 7,123 | |
* | Royal Caribbean Cruises Ltd. | 143,960 | 7,116 |
PulteGroup Inc. | 152,690 | 6,952 | |
MGM Resorts International | 204,738 | 6,865 | |
Service Corp. International | 97,114 | 6,714 | |
Rollins Inc. | 180,569 | 6,598 | |
VF Corp. | 234,753 | 6,482 | |
Vail Resorts Inc. | 27,090 | 6,457 | |
* | CarMax Inc. | 105,205 | 6,406 |
* | Roblox Corp. Class A | 220,198 | 6,267 |
BorgWarner Inc. (XNYS) | 155,266 | 6,249 | |
* | Five Below Inc. | 34,952 | 6,182 |
Tapestry Inc. | 161,303 | 6,142 | |
Bath & Body Works Inc. | 145,738 | 6,141 | |
Fox Corp. Class A | 201,802 | 6,129 | |
* | BJ's Wholesale Club Holdings Inc. | 91,354 | 6,044 |
Advance Auto Parts Inc. | 39,783 | 5,849 | |
* | Caesars Entertainment Inc. | 136,777 | 5,690 |
1 | Paramount Global Inc. Class B | 328,879 | 5,551 |
1 | News Corp. Class A | 304,307 | 5,538 |
* | American Airlines Group Inc. | 431,475 | 5,488 |
Hasbro Inc. | 89,876 | 5,483 | |
*,1 | Carnival Corp. | 664,099 | 5,353 |
*,1 | Wynn Resorts Ltd. | 64,403 | 5,311 |
Whirlpool Corp. | 37,310 | 5,278 | |
Williams-Sonoma Inc. | 44,094 | 5,067 | |
* | Capri Holdings Ltd. | 86,993 | 4,986 |
Churchill Downs Inc. | 23,251 | 4,916 | |
Lear Corp. | 39,167 | 4,858 | |
* | Floor & Decor Holdings Inc. Class A | 67,782 | 4,720 |
Dick's Sporting Goods Inc. | 37,894 | 4,558 | |
* | Planet Fitness Inc. Class A | 55,487 | 4,372 |
* | Crocs Inc. | 40,223 | 4,361 |
Gentex Corp. | 157,457 | 4,294 | |
* | Mattel Inc. | 237,276 | 4,233 |
Wyndham Hotels & Resorts Inc. | 58,779 | 4,192 | |
Nexstar Media Group Inc. Class A | 23,906 | 4,184 | |
Texas Roadhouse Inc. Class A | 44,535 | 4,050 | |
* | Liberty Media Corp.- Liberty SiriusXM Class C | 103,471 | 4,049 |
Tempur Sealy International Inc. | 111,854 | 3,840 | |
1 | Lithia Motors Inc. Class A | 18,413 | 3,770 |
Murphy USA Inc. | 13,484 | 3,769 | |
H&R Block Inc. | ��� 102,942 | 3,758 | |
Macy's Inc. | 180,512 | 3,728 |
Shares | Market Value• ($000) | ||
* | Skechers USA Inc. Class A | 88,473 | 3,711 |
Polaris Inc. | 36,535 | 3,690 | |
* | Alaska Air Group Inc. | 85,613 | 3,676 |
* | Light & Wonder Inc. | 62,593 | 3,668 |
Harley-Davidson Inc. | 87,809 | 3,653 | |
Toll Brothers Inc. | 72,609 | 3,625 | |
*,1 | SiteOne Landscape Supply Inc. | 30,222 | 3,546 |
* | IAA Inc. | 88,149 | 3,526 |
New York Times Co. Class A | 108,000 | 3,506 | |
U-Haul Holding Co. Series N Non-Voting | 63,618 | 3,498 | |
*,1 | Norwegian Cruise Line Holdings Ltd. | 279,802 | 3,425 |
Newell Brands Inc. | 249,616 | 3,265 | |
* | RH | 11,880 | 3,174 |
*,1 | GameStop Corp. Class A | 170,874 | 3,154 |
TEGNA Inc. | 148,744 | 3,152 | |
Marriott Vacations Worldwide Corp. | 22,958 | 3,090 | |
* | Penn Entertainment Inc. | 103,615 | 3,077 |
PVH Corp. | 43,495 | 3,070 | |
*,1 | DraftKings Inc. Class A | 257,482 | 2,933 |
Leggett & Platt Inc. | 89,658 | 2,890 | |
* | AutoNation Inc. | 26,237 | 2,815 |
Academy Sports & Outdoors Inc. | 53,038 | 2,787 | |
* | Hyatt Hotels Corp. Class A | 30,560 | 2,764 |
Warner Music Group Corp. Class A | 77,956 | 2,730 | |
Wingstop Inc. | 19,815 | 2,727 | |
*,1 | Lucid Group Inc. | 391,828 | 2,676 |
* | Asbury Automotive Group Inc. | 14,817 | 2,656 |
Wendy's Co. | 115,352 | 2,610 | |
Choice Hotels International Inc. | 23,152 | 2,608 | |
Ralph Lauren Corp. Class A | 24,626 | 2,602 | |
*,1 | Fox Factory Holding Corp. | 28,140 | 2,567 |
Fox Corp. Class B | 89,224 | 2,538 | |
Thor Industries Inc. | 33,538 | 2,532 | |
Boyd Gaming Corp. | 44,681 | 2,436 | |
* | Bright Horizons Family Solutions Inc. | 38,600 | 2,436 |
* | Visteon Corp. | 18,530 | 2,424 |
* | YETI Holdings Inc. | 57,772 | 2,387 |
* | Lyft Inc. Class A | 213,839 | 2,357 |
Foot Locker Inc. | 61,737 | 2,333 | |
1 | Sirius XM Holdings Inc. | 389,372 | 2,274 |
* | Avis Budget Group Inc. | 13,782 | 2,259 |
* | Meritage Homes Corp. | 24,409 | 2,251 |
* | Chewy Inc. Class A | 60,045 | 2,226 |
* | Hilton Grand Vacations Inc. | 57,477 | 2,215 |
* | Grand Canyon Education Inc. | 20,564 | 2,173 |
* | Taylor Morrison Home Corp. Class A | 67,176 | 2,039 |
Shares | Market Value• ($000) | ||
* | Chegg Inc. | 80,503 | 2,034 |
* | National Vision Holdings Inc. | 51,842 | 2,009 |
World Wrestling Entertainment Inc. Class A | 28,847 | 1,977 | |
* | Coty Inc. Class A | 230,664 | 1,974 |
Kohl's Corp. | 77,838 | 1,965 | |
* | Ollie's Bargain Outlet Holdings Inc. | 41,934 | 1,964 |
Signet Jewelers Ltd. | 28,705 | 1,952 | |
Madison Square Garden Sports Corp. | 10,631 | 1,949 | |
* | Endeavor Group Holdings Inc. Class A | 86,027 | 1,939 |
* | Liberty Media Corp.- Liberty SiriusXM Class A | 49,253 | 1,936 |
* | Goodyear Tire & Rubber Co. | 187,865 | 1,907 |
* | elf Beauty Inc. | 33,714 | 1,864 |
* | Skyline Champion Corp. | 35,996 | 1,854 |
Travel & Leisure Co. | 50,769 | 1,848 | |
* | Callaway Golf Co. | 92,471 | 1,826 |
Columbia Sportswear Co. | 20,626 | 1,806 | |
* | Helen of Troy Ltd. | 16,213 | 1,798 |
Gap Inc. | 159,183 | 1,796 | |
Carter's Inc. | 23,800 | 1,776 | |
Papa John's International Inc. | 21,573 | 1,776 | |
* | Victoria's Secret & Co. | 48,017 | 1,718 |
*,1 | Wayfair Inc. Class A | 50,491 | 1,661 |
Rush Enterprises Inc. Class A | 31,534 | 1,649 | |
Group 1 Automotive Inc. | 9,085 | 1,639 | |
Penske Automotive Group Inc. | 14,092 | 1,620 | |
KB Home | 49,804 | 1,586 | |
American Eagle Outfitters Inc. | 113,295 | 1,582 | |
* | Peloton Interactive Inc. Class A | 198,912 | 1,579 |
* | Hertz Global Holdings Inc. | 99,299 | 1,528 |
LCI Industries | 16,452 | 1,521 | |
Kontoor Brands Inc. | 37,688 | 1,507 | |
Graham Holdings Co. Class B | 2,475 | 1,495 | |
Hanesbrands Inc. | 234,173 | 1,489 | |
Steven Madden Ltd. | 45,543 | 1,456 | |
* | Gentherm Inc. | 22,060 | 1,440 |
*,1 | AMC Entertainment Holdings Inc. Class A | 347,855 | 1,416 |
* | Sonos Inc. | 83,282 | 1,407 |
Cracker Barrel Old Country Store Inc. | 14,823 | 1,404 | |
* | Dorman Products Inc. | 17,321 | 1,401 |
* | JetBlue Airways Corp. | 215,814 | 1,398 |
Spirit Airlines Inc. | 71,316 | 1,389 | |
* | Sabre Corp. | 216,323 | 1,337 |
Dana Inc. | 87,173 | 1,319 | |
Lennar Corp. Class B | 17,145 | 1,282 |
Shares | Market Value• ($000) | ||
Red Rock Resorts Inc. Class A | 31,883 | 1,276 | |
* | Under Armour Inc. Class C | 142,947 | 1,275 |
* | SeaWorld Entertainment Inc. | 23,589 | 1,262 |
* | TripAdvisor Inc. | 69,689 | 1,253 |
* | Duolingo Inc. | 17,566 | 1,249 |
* | PowerSchool Holdings Inc. Class A | 54,100 | 1,249 |
* | Cavco Industries Inc. | 5,451 | 1,233 |
* | LGI Homes Inc. | 13,277 | 1,229 |
* | Boot Barn Holdings Inc. | 19,405 | 1,213 |
MDC Holdings Inc. | 38,058 | 1,203 | |
* | Tri Pointe Homes Inc. | 64,557 | 1,200 |
* | Under Armour Inc. Class A | 117,118 | 1,190 |
* | frontdoor Inc. | 56,285 | 1,171 |
Strategic Education Inc. | 14,933 | 1,170 | |
Inter Parfums Inc. | 11,848 | 1,144 | |
Bloomin' Brands Inc. | 56,685 | 1,141 | |
* | ODP Corp. | 24,950 | 1,136 |
* | Leslie's Inc. | 92,365 | 1,128 |
John Wiley & Sons Inc. Class A | 27,867 | 1,116 | |
* | Six Flags Entertainment Corp. | 47,710 | 1,109 |
1 | Cheesecake Factory Inc. | 33,829 | 1,073 |
* | Driven Brands Holdings Inc. | 39,223 | 1,071 |
Winnebago Industries Inc. | 19,890 | 1,048 | |
* | Adtalem Global Education Inc. | 29,300 | 1,040 |
MillerKnoll Inc. | 49,480 | 1,040 | |
1 | Nordstrom Inc. | 63,848 | 1,031 |
* | Shake Shack Inc. Class A | 24,714 | 1,026 |
*,1 | Knowles Corp. | 60,853 | 999 |
* | Dave & Buster's Entertainment Inc. | 27,981 | 992 |
* | KAR Auction Services Inc. | 75,934 | 991 |
PriceSmart Inc. | 16,310 | 991 | |
* | Liberty Media Corp.- Liberty Braves Class C | 30,283 | 976 |
Century Communities Inc. | 19,473 | 974 | |
* | Urban Outfitters Inc. | 40,777 | 973 |
* | Central Garden & Pet Co. Class A | 27,139 | 972 |
Monro Inc. | 21,155 | 956 | |
Laureate Education Inc. Class A | 98,831 | 951 | |
* | Brinker International Inc. | 29,436 | 939 |
* | Vista Outdoor Inc. | 38,253 | 932 |
1 | Levi Strauss & Co. Class A | 59,902 | 930 |
Oxford Industries Inc. | 9,862 | 919 | |
Jack in the Box Inc. | 13,213 | 902 | |
* | Everi Holdings Inc. | 62,567 | 898 |
* | Sally Beauty Holdings Inc. | 71,509 | 895 |
Shares | Market Value• ($000) | ||
Buckle Inc. | 19,649 | 891 | |
Dillard's Inc. Class A | 2,730 | 882 | |
* | Stride Inc. | 28,088 | 879 |
*,1 | QuantumScape Corp. Class A | 153,916 | 873 |
Acushnet Holdings Corp. | 20,144 | 855 | |
* | Lions Gate Entertainment Corp. Class B | 152,392 | 828 |
*,1 | Fisker Inc. | 112,885 | 821 |
* | XPEL Inc. | 13,474 | 809 |
*,1 | iRobot Corp. | 16,643 | 801 |
* | M/I Homes Inc. | 16,994 | 785 |
HNI Corp. | 27,580 | 784 | |
*,1 | Dutch Bros Inc. Class A | 27,533 | 776 |
* | Malibu Boats Inc. Class A | 14,262 | 760 |
* | Luminar Technologies Inc. Class A | 153,498 | 760 |
* | Madison Square Garden Entertainment Corp. | 16,566 | 745 |
Scholastic Corp. | 18,698 | 738 | |
* | Coursera Inc. | 62,381 | 738 |
* | Abercrombie & Fitch Co. Class A | 32,027 | 734 |
* | Allegiant Travel Co. | 10,439 | 710 |
* | Monarch Casino & Resort Inc. | 9,218 | 709 |
* | ACV Auctions Inc. Class A | 83,863 | 689 |
Rent-A-Center Inc. | 30,229 | 682 | |
Dine Brands Global Inc. | 10,255 | 662 | |
La-Z-Boy Inc. | 28,402 | 648 | |
Sturm Ruger & Co. Inc. | 12,500 | 633 | |
* | Perdoceo Education Corp. | 45,012 | 626 |
* | Figs Inc. Class A | 90,610 | 610 |
* | Liberty Media Corp.- Liberty Formula One Class A | 11,386 | 608 |
* | Cinemark Holdings Inc. | 69,703 | 604 |
* | Overstock.com Inc. | 31,116 | 602 |
* | Revolve Group Inc. | 26,633 | 593 |
Camping World Holdings Inc. Class A | 26,449 | 590 | |
* | American Axle & Manufacturing Holdings Inc. | 75,117 | 587 |
Gray Television Inc. | 51,919 | 581 | |
Wolverine World Wide Inc. | 53,188 | 581 | |
* | PROG Holdings Inc. | 34,299 | 579 |
* | Clean Energy Fuels Corp. | 106,924 | 556 |
* | Udemy Inc. | 52,666 | 556 |
Caleres Inc. | 24,915 | 555 | |
* | EW Scripps Co. Class A | 41,692 | 550 |
News Corp. Class B | 29,413 | 542 | |
* | Cars.com Inc. | 38,888 | 536 |
RCI Hospitality Holdings Inc. | 5,747 | 536 |
Shares | Market Value• ($000) | ||
Matthews International Corp. Class A | 17,540 | 534 | |
* | SkyWest Inc. | 31,893 | 527 |
Sonic Automotive Inc. Class A | 10,568 | 521 | |
Hibbett Inc. | 7,283 | 497 | |
* | Petco Health & Wellness Co. Inc. Class A | 52,385 | 497 |
* | QuinStreet Inc. | 33,170 | 476 |
A-Mark Precious Metals Inc. | 13,688 | 475 | |
* | Golden Entertainment Inc. | 12,431 | 465 |
* | MarineMax Inc. | 14,879 | 465 |
1 | Krispy Kreme Inc. | 44,682 | 461 |
Standard Motor Products Inc. | 13,104 | 456 | |
*,1 | Mister Car Wash Inc. | 48,815 | 451 |
Arko Corp. | 51,833 | 449 | |
*,1 | Sweetgreen Inc. Class A | 52,436 | 449 |
* | iHeartMedia Inc. Class A | 72,097 | 442 |
Steelcase Inc. Class A | 62,262 | 440 | |
* | GoPro Inc. Class A | 85,360 | 425 |
*,1 | Portillo's Inc. Class A | 25,212 | 411 |
Ethan Allen Interiors Inc. | 15,402 | 407 | |
Interface Inc. Class A | 41,128 | 406 | |
* | Life Time Group Holdings Inc. | 33,980 | 406 |
* | BJ's Restaurants Inc. | 15,369 | 405 |
* | Genesco Inc. | 8,794 | 405 |
* | Chico's FAS Inc. | 81,758 | 402 |
* | Poshmark Inc. Class A | 22,452 | 401 |
*,1 | Bally's Corp. | 20,558 | 398 |
Sinclair Broadcast Group Inc. Class A | 25,561 | 396 | |
* | Qurate Retail Inc. Series A | 235,205 | 383 |
* | Chuy's Holdings Inc. | 13,436 | 380 |
* | Stoneridge Inc. | 17,614 | 380 |
* | Sleep Number Corp. | 14,580 | 379 |
Winmark Corp. | 1,609 | 379 | |
Designer Brands Inc. Class A | 38,330 | 375 | |
* | Green Brick Partners Inc. | 15,461 | 375 |
* | TravelCenters of America Inc. | 8,312 | 372 |
* | G-III Apparel Group Ltd. | 27,065 | 371 |
* | Bowlero Corp. | 27,538 | 371 |
* | Denny's Corp. | 39,034 | 360 |
1 | Franchise Group Inc. | 15,116 | 360 |
Guess? Inc. | 17,300 | 358 | |
Ruth's Hospitality Group Inc. | 23,066 | 357 | |
* | Corsair Gaming Inc. | 26,195 | 355 |
U-Haul Holding Co. | 5,851 | 352 | |
* | Thryv Holdings Inc. | 18,529 | 352 |
* | Sun Country Airlines Holdings Inc. | 21,865 | 347 |
* | Integral Ad Science Holding Corp. | 39,215 | 345 |
* | Stagwell Inc. | 55,124 | 342 |
Shares | Market Value• ($000) | ||
Movado Group Inc. | 10,544 | 340 | |
* | Children's Place Inc. | 9,317 | 339 |
*,1 | Blink Charging Co. | 30,055 | 330 |
* | Boston Omaha Corp. Class A | 12,424 | 329 |
* | Hawaiian Holdings Inc. | 30,994 | 318 |
* | Master Craft Boat Holdings Inc. | 12,305 | 318 |
* | 2U Inc. | 50,097 | 314 |
* | Accel Entertainment Inc. Class A | 40,447 | 311 |
*,1 | Carvana Co. Class A | 63,646 | 302 |
* | Viad Corp. | 12,029 | 293 |
* | Beazer Homes USA Inc. | 22,150 | 283 |
Shoe Carnival Inc. | 11,853 | 283 | |
Smith & Wesson Brands Inc. | 32,321 | 281 | |
*,1 | Rover Group Inc. Class A | 76,194 | 280 |
* | Xponential Fitness Inc. Class A | 12,116 | 278 |
* | Liquidity Services Inc. | 19,114 | 269 |
Global Industrial Co. | 11,274 | 265 | |
* | SES AI Corp. | 83,738 | 264 |
Marcus Corp. | 18,310 | 263 | |
*,1 | AMC Networks Inc. Class A | 16,737 | 262 |
Big Lots Inc. | 17,757 | 261 | |
* | Clear Channel Outdoor Holdings Inc. | 246,338 | 259 |
* | Vizio Holding Corp. Class A | 34,512 | 256 |
*,1 | Mullen Automotive Inc. | 895,569 | 256 |
Haverty Furniture Cos. Inc. | 8,222 | 246 | |
* | Build-A-Bear Workshop Inc. | 10,326 | 246 |
* | America's Car-Mart Inc. | 3,394 | 245 |
* | Daily Journal Corp. | 973 | 244 |
* | Destination XL Group Inc. | 35,517 | 240 |
Carriage Services Inc. Class A | 8,442 | 233 | |
* | Funko Inc. Class A | 20,786 | 227 |
* | Zumiez Inc. | 10,066 | 219 |
*,1 | Bed Bath & Beyond Inc. | 86,436 | 217 |
*,1 | ContextLogic Inc. Class A | 444,399 | 217 |
European Wax Center Inc. Class A | 17,240 | 215 | |
* | Sportsman's Warehouse Holdings Inc. | 22,550 | 212 |
* | Sciplay Corp. Class A | 12,827 | 206 |
* | Lovesac Co. | 9,258 | 204 |
Aaron's Co. Inc. | 17,073 | 204 | |
* | Gannett Co. Inc. | 99,686 | 202 |
*,1 | Playstudios Inc. | 51,558 | 200 |
* | Lions Gate Entertainment Corp. Class A | 34,364 | 196 |
* | Quotient Technology Inc. | 56,827 | 195 |
* | First Watch Restaurant Group Inc. | 14,373 | 194 |
Shares | Market Value• ($000) | ||
Johnson Outdoors Inc. Class A | 2,828 | 187 | |
* | Frontier Group Holdings Inc. | 18,228 | 187 |
* | Purple Innovation Inc. Class A | 37,652 | 180 |
* | Central Garden & Pet Co. | 4,784 | 179 |
* | OneWater Marine Inc. Class A | 6,228 | 178 |
* | 1-800-Flowers.com Inc. Class A | 18,559 | 177 |
Entravision Communications Corp. Class A | 36,315 | 174 | |
* | Arlo Technologies Inc. | 48,408 | 170 |
* | Citi Trends Inc. | 6,412 | 170 |
* | CarParts.com Inc. | 27,126 | 170 |
*,1 | Canoo Inc. | 137,866 | 170 |
* | Stitch Fix Inc. Class A | 53,913 | 168 |
* | Universal Electronics Inc. | 7,869 | 164 |
* | Allbirds Inc. Class A | 66,954 | 162 |
* | Sonder Holdings Inc. | 130,633 | 162 |
* | Noodles & Co. Class A | 29,201 | 160 |
*,1 | Vuzix Corp. | 43,358 | 158 |
* | Universal Technical Institute Inc. | 23,386 | 157 |
* | Full House Resorts Inc. | 20,813 | 157 |
* | Tilly's Inc. Class A | 17,104 | 155 |
* | Century Casinos Inc. | 21,934 | 154 |
*,1 | Eastman Kodak Co. | 49,398 | 151 |
* | Motorcar Parts of America Inc. | 12,730 | 151 |
* | WW International Inc. | 38,048 | 147 |
* | Lindblad Expeditions Holdings Inc. | 18,807 | 145 |
El Pollo Loco Holdings Inc. | 14,342 | 143 | |
Hooker Furnishings Corp. | 7,614 | 142 | |
Big 5 Sporting Goods Corp. | 15,749 | 139 | |
Clarus Corp. | 17,555 | 138 | |
* | Hovnanian Enterprises Inc. Class A | 3,253 | 137 |
* | American Public Education Inc. | 11,060 | 136 |
* | Fossil Group Inc. | 31,352 | 135 |
* | Tupperware Brands Corp. | 32,267 | 134 |
Alta Equipment Group Inc. | 10,011 | 132 | |
* | Rush Street Interactive Inc. | 36,535 | 131 |
* | Liberty Media Corp.- Liberty Braves Class A | 3,840 | 125 |
Climb Global Solutions Inc. | 3,940 | 124 | |
*,1 | Cricut Inc. Class A | 13,307 | 123 |
* | Angi Inc. Class A | 51,757 | 122 |
* | Wheels Up Experience Inc. | 118,672 | 122 |
Rocky Brands Inc. | 5,039 | 119 | |
* | Cooper-Standard Holdings Inc. | 12,960 | 117 |
Shares | Market Value• ($000) | ||
* | LL Flooring Holdings Inc. | 20,606 | 116 |
* | Cardlytics Inc. | 19,912 | 115 |
Bassett Furniture Industries Inc. | 6,604 | 115 | |
Cato Corp. Class A | 12,211 | 114 | |
* | PlayAGS Inc. | 22,237 | 113 |
* | Potbelly Corp. | 19,904 | 111 |
* | J Jill Inc. | 4,459 | 111 |
* | Dream Finders Homes Inc. Class A | 12,815 | 111 |
Nathan's Famous Inc. | 1,617 | 109 | |
* | Arhaus Inc. | 11,188 | 109 |
* | Lordstown Motors Corp. Class A | 93,672 | 107 |
* | American Outdoor Brands Inc. | 10,588 | 106 |
Weyco Group Inc. | 4,853 | 103 | |
Kimball International Inc. Class B | 15,684 | 102 | |
* | Kura Sushi USA Inc. Class A | 2,145 | 102 |
Weber Inc. Class A | 12,504 | 101 | |
* | Container Store Group Inc. | 23,135 | 100 |
* | Tile Shop Holdings Inc. | 22,718 | 100 |
*,1 | Genius Brands International Inc. | 212,606 | 99 |
* | VOXX International Corp. Class A | 11,691 | 98 |
1 | Hamilton Beach Brands Holding Co. Class A | 7,791 | 97 |
* | Vera Bradley Inc. | 21,343 | 97 |
*,1 | AMMO Inc. | 56,158 | 97 |
* | Fiesta Restaurant Group Inc. | 13,035 | 96 |
* | Superior Industries International Inc. | 21,922 | 93 |
* | Latham Group Inc. | 28,563 | 92 |
Marine Products Corp. | 7,669 | 90 | |
* | ONE Group Hospitality Inc. | 14,056 | 89 |
* | Vacasa Inc. | 70,753 | 89 |
* | Legacy Housing Corp. | 4,622 | 88 |
Superior Group of Cos. Inc. | 8,674 | 87 | |
* | Holley Inc. | 41,174 | 87 |
*,1 | Solo Brands Inc. Class A | 23,256 | 87 |
* | Emerald Holding Inc. | 24,384 | 86 |
* | Biglari Holdings Inc. Class A | 123 | 86 |
* | Lands' End Inc. | 11,262 | 85 |
* | Conn's Inc. | 11,815 | 81 |
* | Lakeland Industries Inc. | 6,065 | 81 |
Bluegreen Vacations Holding Class A | 3,232 | 81 | |
*,1 | Focus Universal Inc. | 12,697 | 81 |
* | Harte Hanks Inc. | 6,868 | 80 |
* | BARK Inc. | 53,111 | 79 |
Escalade Inc. | 7,622 | 78 | |
Lifetime Brands Inc. | 10,315 | 78 | |
Acme United Corp. | 3,499 | 77 | |
* | Lincoln Educational Services Corp. | 13,255 | 77 |
Shares | Market Value• ($000) | ||
* | Snap One Holdings Corp. | 10,397 | 77 |
* | Turtle Beach Corp. | 10,541 | 76 |
*,1 | Spruce Power Holding Corp. | 81,716 | 75 |
Canterbury Park Holding Corp. | 2,370 | 74 | |
* | Cumulus Media Inc. Class A | 11,766 | 73 |
* | JAKKS Pacific Inc. | 4,046 | 71 |
*,1 | Reservoir Media Inc. | 11,962 | 71 |
* | RealReal Inc. | 54,992 | 69 |
* | Lazydays Holdings Inc. | 5,685 | 68 |
* | Townsquare Media Inc. Class A | 9,337 | 68 |
* | Duluth Holdings Inc. Class B | 10,724 | 66 |
* | Nerdy Inc. | 28,833 | 65 |
* | Outbrain Inc. | 17,180 | 62 |
*,1 | F45 Training Holdings Inc. | 21,692 | 62 |
Flexsteel Industries Inc. | 3,943 | 61 | |
* | Red Robin Gourmet Burgers Inc. | 10,926 | 61 |
* | Strattec Security Corp. | 2,980 | 61 |
* | Lee Enterprises Inc. | 3,230 | 60 |
* | Selectquote Inc. | 87,993 | 59 |
*,1 | Rent the Runway Inc. Class A | 19,110 | 58 |
* | Delta Apparel Inc. | 5,376 | 57 |
* | Barnes & Noble Education Inc. | 27,832 | 49 |
NL Industries Inc. | 7,172 | 49 | |
*,1 | Regis Corp. | 39,526 | 48 |
* | Traeger Inc. | 16,967 | 48 |
* | ThredUP Inc. Class A | 35,387 | 46 |
* | Carrols Restaurant Group Inc. | 33,393 | 45 |
*,1 | Express Inc. | 43,691 | 45 |
* | Urban One Inc. | 12,009 | 45 |
*,1 | Inspirato Inc. | 35,714 | 43 |
* | 1847 Goedeker Inc. | 73,266 | 42 |
*,1 | Cinedigm Corp. Class A | 105,017 | 41 |
* | Liberty TripAdvisor Holdings Inc. Class A | 60,450 | 40 |
* | Fluent Inc. | 35,496 | 39 |
*,1 | Kirkland's Inc. | 10,411 | 34 |
* | RumbleON Inc. Class B | 5,260 | 34 |
* | Red Cat Holdings Inc. | 36,630 | 34 |
* | Nautilus Inc. | 21,129 | 32 |
*,1 | Chicken Soup For The Soul Entertainment Inc. | 6,233 | 32 |
Saga Communications Inc. Class A | 1,303 | 31 | |
1 | JOANN Inc. | 10,928 | 31 |
* | Ondas Holdings Inc. | 18,924 | 30 |
* | Brilliant Earth Group Inc. Class A | 6,975 | 30 |
* | Gaia Inc. Class A | 11,846 | 28 |
* | Party City Holdco Inc. | 76,558 | 28 |
* | SRAX Inc. Class A | 18,450 | 28 |
*,1 | Owlet Inc. | 49,876 | 28 |
Ark Restaurants Corp. | 1,632 | 27 |
Shares | Market Value• ($000) | ||
* | Charles & Colvard Ltd. | 31,847 | 26 |
* | Aterian Inc. | 31,270 | 24 |
* | Lulu's Fashion Lounge Holdings Inc. | 9,663 | 24 |
*,1 | XWELL Inc. | 62,337 | 23 |
* | Audacy Inc. Class A | 91,040 | 21 |
*,1 | Faraday Future Intelligent Electric Inc. | 72,990 | 21 |
* | CuriosityStream Inc. | 17,896 | 20 |
* | Live Ventures Inc. | 636 | 20 |
Educational Development Corp. | 5,856 | 19 | |
*,1 | Koss Corp. | 3,956 | 19 |
* | BurgerFi International Inc. | 14,006 | 18 |
*,1 | Hall of Fame Resort & Entertainment Co. | 1,701 | 14 |
*,1 | Shift Technologies Inc. | 75,996 | 11 |
*,1 | HyreCar Inc. | 13,151 | 6 |
* | EBET Inc. | 8,285 | 5 |
*,1 | Arcimoto Inc. | 838 | 3 |
National CineMedia Inc. | 9,423 | 2 | |
*,2 | Zagg Inc. CVR | 23,781 | 2 |
* | Mesa Air Group Inc. | 675 | 1 |
3,339,603 | |||
Consumer Staples (6.0%) | |||
Procter & Gamble Co. | 1,587,888 | 240,660 | |
PepsiCo Inc. | 922,520 | 166,663 | |
Coca-Cola Co. | 2,606,143 | 165,777 | |
Philip Morris International Inc. | 1,040,701 | 105,329 | |
CVS Health Corp. | 881,540 | 82,151 | |
Mondelez International Inc. Class A | 915,555 | 61,022 | |
Altria Group Inc. | 1,200,406 | 54,871 | |
Colgate-Palmolive Co. | 560,189 | 44,137 | |
McKesson Corp. | 95,182 | 35,705 | |
Archer-Daniels-Midland Co. | 368,372 | 34,203 | |
General Mills Inc. | 398,544 | 33,418 | |
Kimberly-Clark Corp. | 225,981 | 30,677 | |
Corteva Inc. | 481,187 | 28,284 | |
Sysco Corp. | 340,161 | 26,005 | |
* | Monster Beverage Corp. | 245,774 | 24,953 |
Constellation Brands Inc. Class A | 105,722 | 24,501 | |
Hershey Co. | 98,565 | 22,825 | |
Keurig Dr Pepper Inc. | 620,714 | 22,135 | |
Kraft Heinz Co. | 534,792 | 21,771 | |
Kroger Co. | 433,168 | 19,311 | |
AmerisourceBergen Corp. Class A | 110,279 | 18,274 | |
1 | Walgreens Boots Alliance Inc. | 465,658 | 17,397 |
Brown-Forman Corp. Class B | 216,770 | 14,238 | |
McCormick & Co. Inc. | 169,390 | 14,041 | |
Church & Dwight Co. Inc. | 163,429 | 13,174 | |
Conagra Brands Inc. | 319,887 | 12,380 | |
Kellogg Co. | 172,414 | 12,283 | |
Tyson Foods Inc. Class A | 193,626 | 12,053 | |
Clorox Co. | 82,649 | 11,598 | |
J M Smucker Co. | 68,104 | 10,792 |
Shares | Market Value• ($000) | ||
Bunge Ltd. | 99,980 | 9,975 | |
Lamb Weston Holdings Inc. | 96,479 | 8,621 | |
Hormel Foods Corp. | 182,705 | 8,322 | |
Campbell Soup Co. | 131,849 | 7,482 | |
* | Darling Ingredients Inc. | 107,497 | 6,728 |
Molson Coors Beverage Co. Class B | 119,857 | 6,175 | |
* | Performance Food Group Co. | 103,949 | 6,070 |
Casey's General Stores Inc. | 24,929 | 5,593 | |
* | US Foods Holding Corp | 136,071 | 4,629 |
Ingredion Inc. | 41,940 | 4,107 | |
Flowers Foods Inc. | 133,835 | 3,846 | |
* | Post Holdings Inc. | 35,065 | 3,165 |
* | Celsius Holdings Inc. | 28,079 | 2,921 |
Albertsons Cos. Inc. Class A | 124,567 | 2,584 | |
* | Simply Good Foods Co. | 66,494 | 2,529 |
Lancaster Colony Corp. | 12,680 | 2,502 | |
* | BellRing Brands Inc. | 90,607 | 2,323 |
* | Sprouts Farmers Market Inc. | 70,922 | 2,296 |
* | Boston Beer Co. Inc. Class A | 6,087 | 2,006 |
* | Hostess Brands Inc. Class A | 88,570 | 1,988 |
* | TreeHouse Foods Inc. | 36,820 | 1,818 |
Brown-Forman Corp. Class A | 26,434 | 1,738 | |
* | Grocery Outlet Holding Corp. | 59,378 | 1,733 |
Spectrum Brands Holdings Inc. | 27,501 | 1,675 | |
* | United Natural Foods Inc. | 41,043 | 1,589 |
* | Freshpet Inc. | 30,044 | 1,585 |
Coca-Cola Consolidated Inc. | 3,058 | 1,567 | |
Energizer Holdings Inc. | 46,405 | 1,557 | |
Primo Water Corp. | 99,472 | 1,546 | |
WD-40 Co. | 8,928 | 1,439 | |
Cal-Maine Foods Inc. | 25,985 | 1,415 | |
Nu Skin Enterprises Inc. Class A | 32,408 | 1,366 | |
Edgewell Personal Care Co. | 34,283 | 1,321 | |
J & J Snack Foods Corp. | 7,425 | 1,112 | |
Vector Group Ltd. | 85,562 | 1,015 | |
Reynolds Consumer Products Inc. | 33,816 | 1,014 | |
* | Hain Celestial Group Inc. | 62,284 | 1,008 |
MGP Ingredients Inc. | 9,194 | 978 | |
* | Herbalife Nutrition Ltd. | 65,312 | 972 |
Ingles Markets Inc. Class A | 9,141 | 882 | |
Weis Markets Inc. | 10,664 | 878 | |
Universal Corp. | 15,569 | 822 | |
Medifast Inc. | 6,988 | 806 | |
* | Chefs' Warehouse Inc. | 22,429 | 746 |
Shares | Market Value• ($000) | ||
Andersons Inc. | 20,676 | 724 | |
Utz Brands Inc. | 45,503 | 722 | |
* | National Beverage Corp. | 14,831 | 690 |
SpartanNash Co. | 22,503 | 681 | |
Fresh Del Monte Produce Inc. | 24,940 | 653 | |
Seaboard Corp. | 164 | 619 | |
* | Beauty Health Co. | 63,487 | 578 |
1 | B&G Foods Inc. | 49,858 | 556 |
* | Pilgrim's Pride Corp. | 22,927 | 544 |
John B Sanfilippo & Son Inc. | 6,253 | 509 | |
* | Duckhorn Portfolio Inc. | 29,525 | 489 |
Tootsie Roll Industries Inc. | 11,419 | 486 | |
*,1 | Beyond Meat Inc. | 38,167 | 470 |
* | USANA Health Sciences Inc. | 7,790 | 414 |
ACCO Brands Corp. | 64,127 | 359 | |
* | Mission Produce Inc. | 30,100 | 350 |
* | Olaplex Holdings Inc. | 66,359 | 346 |
* | Sovos Brands Inc. | 23,963 | 344 |
Calavo Growers Inc. | 10,546 | 310 | |
Turning Point Brands Inc. | 11,917 | 258 | |
PetMed Express Inc. | 14,496 | 257 | |
* | Seneca Foods Corp. Class A | 4,151 | 253 |
* | Vita Coco Co. Inc. | 16,733 | 231 |
*,1 | Veru Inc. | 39,389 | 208 |
* | Vital Farms Inc. | 13,714 | 205 |
* | Benson Hill Inc. | 76,425 | 195 |
* | Brookfield Realty Capital Corp. | 27,699 | 169 |
Limoneira Co. | 12,875 | 157 | |
1 | Oil-Dri Corp. of America | 4,396 | 147 |
* | GrowGeneration Corp. | 35,962 | 141 |
* | Lifecore Biomedical Inc. | 19,810 | 128 |
* | Rite Aid Corp. | 37,698 | 126 |
* | Whole Earth Brands Inc. | 29,083 | 118 |
1 | ProPhase Labs Inc. | 12,254 | 118 |
* | 22nd Century Group Inc. | 124,979 | 115 |
* | Honest Co. Inc. | 33,940 | 102 |
* | HF Foods Group Inc. | 23,456 | 95 |
* | Vintage Wine Estates Inc. | 27,397 | 89 |
* | PLBY Group Inc. | 26,318 | 72 |
Alico Inc. | 2,955 | 71 | |
Natural Grocers by Vitamin Cottage Inc. | 7,685 | 70 | |
Village Super Market Inc. Class A | 2,979 | 69 | |
* | Nature's Sunshine Products Inc. | 8,283 | 69 |
* | Farmer Bros Co. | 11,334 | 52 |
* | Zevia PBC Class A | 9,474 | 39 |
Lifevantage Corp. | 10,023 | 37 | |
*,1 | Tattooed Chef Inc. | 27,167 | 33 |
* | AquaBounty Technologies Inc. | 42,194 | 32 |
* | S&W Seed Co. | 18,009 | 27 |
*,1 | AppHarvest Inc. | 43,890 | 25 |
*,1 | Local Bounti Corp. | 14,573 | 20 |
Shares | Market Value• ($000) | ||
* | Bridgford Foods Corp. | 1,495 | 18 |
* | Alkaline Water Co. Inc. | 90,909 | 16 |
*,1 | Blue Apron Holdings Inc. Class A | 8,341 | 7 |
* | MedAvail Holdings Inc. | 20,325 | 6 |
* | Laird Superfood Inc. | 6,085 | 5 |
*,1 | PLBY Group Inc. Rights Exp. 1/12/23 | 26,318 | — |
1,518,696 | |||
Energy (5.3%) | |||
Exxon Mobil Corp. | 2,761,144 | 304,554 | |
Chevron Corp. | 1,167,917 | 209,629 | |
ConocoPhillips | 836,903 | 98,755 | |
EOG Resources Inc. | 393,643 | 50,985 | |
Schlumberger Ltd. | 950,481 | 50,813 | |
Marathon Petroleum Corp. | 314,870 | 36,648 | |
Pioneer Natural Resources Co. | 151,139 | 34,519 | |
Phillips 66 | 320,046 | 33,310 | |
Valero Energy Corp. | 258,082 | 32,740 | |
Occidental Petroleum Corp. | 456,812 | 28,775 | |
Devon Energy Corp. | 438,181 | 26,953 | |
Williams Cos. Inc. | 816,884 | 26,875 | |
Hess Corp. | 187,210 | 26,550 | |
Cheniere Energy Inc. | 167,868 | 25,173 | |
* | Enphase Energy Inc. | 91,306 | 24,192 |
Kinder Morgan Inc. | 1,280,979 | 23,160 | |
Halliburton Co. | 545,450 | 21,463 | |
Baker Hughes Co. Class A | 677,226 | 19,998 | |
ONEOK Inc. | 303,096 | 19,913 | |
Diamondback Energy Inc. | 117,393 | 16,057 | |
Coterra Energy Inc. | 499,456 | 12,272 | |
Marathon Oil Corp. | 423,117 | 11,454 | |
Targa Resources Corp. | 154,062 | 11,324 | |
* | First Solar Inc. | 67,554 | 10,119 |
APA Corp. | 214,128 | 9,995 | |
Texas Pacific Land Corp. | 4,117 | 9,651 | |
Ovintiv Inc. (XNYS) | 165,140 | 8,374 | |
Chesapeake Energy Corp. | 84,805 | 8,003 | |
EQT Corp. | 221,485 | 7,493 | |
NOV Inc. | 262,836 | 5,491 | |
* | Antero Resources Corp. | 170,110 | 5,272 |
HF Sinclair Corp. | 93,534 | 4,853 | |
*,1 | Plug Power Inc. | 388,450 | 4,805 |
* | Southwestern Energy Co. | 743,895 | 4,352 |
Matador Resources Co. | 74,719 | 4,277 | |
Murphy Oil Corp. | 99,128 | 4,263 | |
PDC Energy Inc. | 61,271 | 3,889 | |
ChampionX Corp. | 132,575 | 3,843 | |
Range Resources Corp. | 153,091 | 3,830 | |
Chord Energy Corp. | 26,528 | 3,629 | |
DTE Midstream LLC | 64,744 | 3,578 | |
PBF Energy Inc. Class A | 78,730 | 3,211 | |
Helmerich & Payne Inc. | 62,767 | 3,111 | |
SM Energy Co. | 81,129 | 2,826 |
Shares | Market Value• ($000) | ||
* | Denbury Inc. | 31,403 | 2,733 |
* | Noble Corp. plc | 69,850 | 2,634 |
Magnolia Oil & Gas Corp. Class A | 110,619 | 2,594 | |
Patterson-UTI Energy Inc. | 147,460 | 2,483 | |
* | Weatherford International plc | 48,094 | 2,449 |
Antero Midstream Corp. | 214,974 | 2,320 | |
California Resources Corp. | 48,574 | 2,113 | |
* | Peabody Energy Corp. | 77,205 | 2,040 |
* | Transocean Ltd. (XNYS) | 438,229 | 1,998 |
Cactus Inc. Class A | 39,593 | 1,990 | |
Equitrans Midstream Corp. | 295,635 | 1,981 | |
Civitas Resources Inc. | 34,070 | 1,974 | |
* | CNX Resources Corp. | 117,125 | 1,972 |
* | Array Technologies Inc. | 94,921 | 1,835 |
New Fortress Energy Inc. Class A | 41,736 | 1,770 | |
Arch Resources Inc. | 12,379 | 1,768 | |
Arcosa Inc. | 32,229 | 1,751 | |
*,1 | ChargePoint Holdings Inc. | 183,650 | 1,750 |
Liberty Energy Inc. Class A | 108,151 | 1,732 | |
* | Callon Petroleum Co. | 41,338 | 1,533 |
* | Shoals Technologies Group Inc. Class A | 57,777 | 1,425 |
1 | Sitio Royalties Corp. Class A | 48,170 | 1,390 |
Northern Oil and Gas Inc. | 44,771 | 1,380 | |
Alpha Metallurgical Resources Inc. | 8,933 | 1,308 | |
* | NexTier Oilfield Solutions Inc. | 141,008 | 1,303 |
Delek US Holdings Inc. | 48,162 | 1,300 | |
CONSOL Energy Inc. | 19,247 | 1,251 | |
* | Ameresco Inc. Class A | 21,746 | 1,243 |
Warrior Met Coal Inc. | 35,534 | 1,231 | |
* | Oceaneering International Inc. | 66,532 | 1,164 |
* | Green Plains Inc. | 37,690 | 1,150 |
World Fuel Services Corp. | 40,140 | 1,097 | |
Permian resources Corp. | 116,431 | 1,094 | |
* | Tidewater Inc. | 28,999 | 1,069 |
*,1 | SunPower Corp. | 58,871 | 1,061 |
Enviva Inc. | 19,768 | 1,047 | |
* | Stem Inc. | 100,623 | 900 |
Archrock Inc. | 99,777 | 896 | |
* | NOW Inc. | 70,580 | 896 |
* | Nabors Industries Ltd. (XNYS) | 5,605 | 868 |
Comstock Resources Inc. | 63,137 | 866 | |
* | Par Pacific Holdings Inc. | 35,804 | 832 |
* | Talos Energy Inc. | 42,572 | 804 |
* | Helix Energy Solutions Group Inc. | 98,673 | 728 |
Shares | Market Value• ($000) | ||
* | Diamond Offshore Drilling Inc. | 69,498 | 723 |
* | FuelCell Energy Inc. | 259,196 | 721 |
* | ProPetro Holding Corp. | 69,420 | 720 |
Core Laboratories NV | 32,248 | 654 | |
* | Earthstone Energy Inc. Class A | 44,140 | 628 |
* | MRC Global Inc. | 54,151 | 627 |
CVR Energy Inc. | 19,053 | 597 | |
* | Tellurian Inc. | 346,130 | 582 |
* | Gulfport Energy Corp. | 7,664 | 564 |
* | Laredo Petroleum Inc. | 10,667 | 548 |
RPC Inc. | 61,215 | 544 | |
* | Dril-Quip Inc. | 19,445 | 528 |
Ranger Oil Corp. Class A | 12,468 | 504 | |
SunCoke Energy Inc. | 56,539 | 488 | |
*,1 | Fluence Energy Inc. | 27,715 | 475 |
* | Montauk Renewables Inc. | 38,927 | 429 |
* | Bristow Group Inc. | 14,607 | 396 |
*,1 | ProFrac Holding Corp. Class A | 15,223 | 384 |
Select Energy Services Inc. Class A | 40,320 | 373 | |
* | REX American Resources Corp. | 11,214 | 357 |
* | SandRidge Energy Inc. | 20,819 | 355 |
1 | Kinetik Holdings Inc. Class A | 10,258 | 339 |
* | W&T Offshore Inc. | 60,181 | 336 |
VAALCO Energy Inc. | 72,818 | 332 | |
* | Gevo Inc. | 161,777 | 307 |
* | Oil States International Inc. | 41,067 | 306 |
Berry Corp. | 37,707 | 302 | |
* | SilverBow Resources Inc. | 10,473 | 296 |
1 | Crescent Energy Inc. Class A | 23,490 | 282 |
* | TETRA Technologies Inc. | 81,233 | 281 |
* | DMC Global Inc. | 13,419 | 261 |
* | Amplify Energy Corp. | 28,902 | 254 |
* | TPI Composites Inc. | 25,015 | 254 |
* | Centrus Energy Corp. Class A | 7,633 | 248 |
* | NextDecade Corp. | 41,618 | 206 |
*,1 | EVgo Inc. | 45,864 | 205 |
Solaris Oilfield Infrastructure Inc. Class A | 20,364 | 202 | |
* | Newpark Resources Inc. | 47,154 | 196 |
*,1 | Solid Power Inc. | 71,191 | 181 |
* | SEACOR Marine Holdings Inc. | 18,771 | 172 |
Evolution Petroleum Corp. | 22,455 | 170 | |
* | Nine Energy Service Inc. | 11,327 | 165 |
* | Ring Energy Inc. | 58,009 | 143 |
Ramaco Resources Inc. | 15,478 | 136 | |
NACCO Industries Inc. Class A | 3,559 | 135 |
Shares | Market Value• ($000) | ||
* | KLX Energy Services Holdings Inc. | 7,734 | 134 |
PHX Minerals Inc. | 32,792 | 128 | |
* | Matrix Service Co. | 20,138 | 125 |
* | Natural Gas Services Group Inc. | 10,759 | 123 |
* | Forum Energy Technologies Inc. | 3,991 | 118 |
Riley Exploration Permian Inc. | 3,903 | 115 | |
*,1 | 374Water Inc. | 36,898 | 108 |
* | Ranger Energy Services Inc. | 9,731 | 107 |
* | Hallador Energy Co. | 10,094 | 101 |
*,1 | Beam Global | 5,797 | 101 |
Epsilon Energy Ltd. | 14,306 | 95 | |
*,1 | FTC Solar Inc. | 33,881 | 91 |
*,1 | Heliogen Inc. | 113,216 | 79 |
* | Aemetis Inc. | 19,744 | 78 |
*,1 | Flotek Industries Inc. | 66,667 | 75 |
* | American Superconductor Corp. | 19,441 | 72 |
*,1 | Ideal Power Inc. | 6,716 | 71 |
* | Empire Petroleum Corp. | 5,806 | 71 |
*,1 | ESS Tech Inc. | 27,503 | 67 |
* | Battalion Oil Corp. | 5,921 | 57 |
* | Gulf Island Fabrication Inc. | 10,847 | 56 |
* | Geospace Technologies Corp. | 11,189 | 47 |
* | American Resources Corp. Class A | 26,674 | 35 |
* | Sunworks Inc. | 21,967 | 35 |
*,1 | Advent Technologies Holdings Inc. | 15,880 | 29 |
*,1 | Volta Inc. | 68,392 | 24 |
* | Capstone Green Energy Corp. | 13,423 | 19 |
* | Ocean Power Technologies Inc. | 41,515 | 19 |
*,1 | Camber Energy Inc. | 3,383 | 7 |
* | Ecoark Holdings Inc. | 21,097 | 5 |
*,2 | Alta Mesa Resources Inc. Class A | 103,408 | — |
1,347,798 | |||
Financials (11.8%) | |||
* | Berkshire Hathaway Inc. Class B | 1,110,311 | 342,975 |
JPMorgan Chase & Co. | 1,967,642 | 263,861 | |
Bank of America Corp. | 4,581,466 | 151,738 | |
Wells Fargo & Co. | 2,560,096 | 105,706 | |
Charles Schwab Corp. | 1,035,002 | 86,174 | |
Goldman Sachs Group Inc. | 228,632 | 78,508 | |
S&P Global Inc. | 218,402 | 73,152 | |
Morgan Stanley | 849,427 | 72,218 | |
BlackRock Inc. | 95,566 | 67,721 | |
Chubb Ltd. | 264,169 | 58,276 | |
Citigroup Inc. | 1,231,860 | 55,717 | |
Marsh & McLennan Cos. Inc. | 332,179 | 54,969 | |
Progressive Corp. | 391,868 | 50,829 | |
PNC Financial Services Group Inc. | 270,201 | 42,676 | |
US Bancorp | 946,903 | 41,294 |
Shares | Market Value• ($000) | ||
CME Group Inc. | 241,155 | 40,553 | |
Aon plc Class A (XNYS) | 131,777 | 39,552 | |
Intercontinental Exchange Inc. | 374,204 | 38,390 | |
Truist Financial Corp. | 890,532 | 38,320 | |
Blackstone Inc. | 472,332 | 35,042 | |
American International Group Inc. | 498,206 | 31,507 | |
Travelers Cos. Inc. | 157,069 | 29,449 | |
Moody's Corp. | 104,326 | 29,067 | |
MetLife Inc. | 395,373 | 28,613 | |
Aflac Inc. | 373,965 | 26,903 | |
Arthur J Gallagher & Co. | 141,864 | 26,747 | |
Prudential Financial Inc. | 248,686 | 24,734 | |
Allstate Corp. | 177,273 | 24,038 | |
MSCI Inc. Class A | 51,037 | 23,741 | |
Ameriprise Financial Inc. | 71,590 | 22,291 | |
Bank of New York Mellon Corp. | 488,093 | 22,218 | |
KKR & Co. Inc. | 431,707 | 20,040 | |
State Street Corp. | 232,646 | 18,046 | |
Discover Financial Services | 183,980 | 17,999 | |
Willis Towers Watson plc | 72,861 | 17,820 | |
M&T Bank Corp. | 116,088 | 16,840 | |
Nasdaq Inc. | 265,400 | 16,282 | |
T Rowe Price Group Inc. | 149,035 | 16,254 | |
Hartford Financial Services Group Inc. | 211,993 | 16,075 | |
* | Berkshire Hathaway Inc. Class A | 34 | 15,936 |
Fifth Third Bancorp | 466,077 | 15,292 | |
First Republic Bank | 123,627 | 15,069 | |
* | Arch Capital Group Ltd. | 235,068 | 14,758 |
Apollo Global Management Inc. | 229,777 | 14,657 | |
Principal Financial Group Inc. | 164,734 | 13,824 | |
Raymond James Financial Inc. | 129,220 | 13,807 | |
1 | Huntington Bancshares Inc. | 976,468 | 13,768 |
Regions Financial Corp. | 625,339 | 13,482 | |
Citizens Financial Group Inc. | 329,214 | 12,961 | |
Northern Trust Corp. | 133,710 | 11,832 | |
* | Markel Corp. | 8,651 | 11,398 |
KeyCorp. | 635,339 | 11,068 | |
LPL Financial Holdings Inc. | 50,451 | 10,906 | |
Cincinnati Financial Corp. | 105,399 | 10,792 | |
Broadridge Financial Solutions Inc. | 78,735 | 10,561 | |
FactSet Research Systems Inc. | 25,385 | 10,185 | |
W R Berkley Corp. | 140,299 | 10,181 | |
* | SVB Financial Group | 40,259 | 9,265 |
Cboe Global Markets Inc. | 70,951 | 8,902 |
Shares | Market Value• ($000) | ||
First Horizon Corp. | 362,058 | 8,870 | |
Everest Re Group Ltd. | 26,171 | 8,670 | |
Brown & Brown Inc. | 151,710 | 8,643 | |
Loews Corp. | 134,939 | 7,871 | |
Ares Management Corp. Class A | 104,258 | 7,135 | |
Equitable Holdings Inc. | 246,551 | 7,076 | |
Globe Life Inc. | 58,585 | 7,062 | |
American Financial Group Inc. | 49,976 | 6,861 | |
MarketAxess Holdings Inc. | 24,147 | 6,734 | |
Annaly Capital Management Inc. | 312,908 | 6,596 | |
Fidelity National Financial Inc. | 171,736 | 6,461 | |
Reinsurance Group of America Inc. | 44,867 | 6,375 | |
East West Bancorp Inc. | 94,723 | 6,242 | |
Comerica Inc. | 90,195 | 6,030 | |
Invesco Ltd. | 305,454 | 5,495 | |
Webster Financial Corp. | 115,834 | 5,484 | |
RenaissanceRe Holdings Ltd. | 29,427 | 5,421 | |
Franklin Resources Inc. | 199,285 | 5,257 | |
Commerce Bancshares Inc. | 76,491 | 5,207 | |
Cullen/Frost Bankers Inc. | 38,901 | 5,201 | |
First Citizens BancShares Inc. Class A | 6,734 | 5,107 | |
Carlyle Group Inc. | 168,459 | 5,027 | |
Zions Bancorp NA | 99,079 | 4,871 | |
Signature Bank | 42,161 | 4,858 | |
Tradeweb Markets Inc. Class A | 74,448 | 4,834 | |
Interactive Brokers Group Inc. Class A | 65,621 | 4,748 | |
SEI Investments Co. | 80,884 | 4,716 | |
Unum Group | 112,316 | 4,608 | |
Assurant Inc. | 35,307 | 4,415 | |
Old Republic International Corp. | 181,850 | 4,392 | |
Ally Financial Inc. | 179,140 | 4,380 | |
Prosperity Bancshares Inc. | 59,239 | 4,305 | |
Erie Indemnity Co. Class A | 16,903 | 4,204 | |
Western Alliance Bancorp | 68,887 | 4,103 | |
AGNC Investment Corp. | 386,110 | 3,996 | |
Stifel Financial Corp. | 68,062 | 3,973 | |
Voya Financial Inc. | 64,130 | 3,943 | |
Affiliated Managers Group Inc. | 24,847 | 3,936 | |
SouthState Corp. | 50,774 | 3,877 | |
Kinsale Capital Group Inc. | 14,535 | 3,801 | |
RLI Corp. | 28,683 | 3,765 | |
Selective Insurance Group Inc. | 42,188 | 3,738 | |
New York Community Bancorp Inc. | 433,841 | 3,731 |
Shares | Market Value• ($000) | ||
Morningstar Inc. | 17,187 | 3,723 | |
Glacier Bancorp Inc. | 74,556 | 3,685 | |
United Bankshares Inc. | 90,817 | 3,677 | |
Jefferies Financial Group Inc. | 105,685 | 3,623 | |
Starwood Property Trust Inc. | 196,383 | 3,600 | |
Pinnacle Financial Partners Inc. | 48,988 | 3,596 | |
Old National Bancorp | 196,353 | 3,530 | |
Primerica Inc. | 24,610 | 3,490 | |
Synovus Financial Corp. | 92,496 | 3,473 | |
Wintrust Financial Corp. | 40,841 | 3,452 | |
First American Financial Corp. | 64,748 | 3,389 | |
*,1 | Coinbase Global Inc. Class A | 95,044 | 3,364 |
*,1 | Robinhood Markets Inc. Class A | 406,906 | 3,312 |
Popular Inc. | 49,927 | 3,311 | |
Valley National Bancorp | 287,749 | 3,254 | |
Lincoln National Corp. | 103,147 | 3,169 | |
1 | Blue Owl Capital Inc. Class A | 292,991 | 3,106 |
First Financial Bankshares Inc. | 89,566 | 3,081 | |
FNB Corp. | 235,013 | 3,067 | |
Bank OZK | 75,330 | 3,018 | |
Cadence Bank | 122,281 | 3,015 | |
Home BancShares Inc. | 127,628 | 2,909 | |
Houlihan Lokey Inc. Class A | 32,875 | 2,865 | |
Hanover Insurance Group Inc. | 21,129 | 2,855 | |
SLM Corp. | 167,837 | 2,786 | |
Axis Capital Holdings Ltd. | 51,167 | 2,772 | |
Essent Group Ltd. | 69,020 | 2,683 | |
MGIC Investment Corp. | 201,477 | 2,619 | |
Umpqua Holdings Corp. | 146,425 | 2,614 | |
Rithm Capital Corp. | 319,698 | 2,612 | |
Hancock Whitney Corp. | 53,649 | 2,596 | |
American Equity Investment Life Holding Co. | 56,429 | 2,574 | |
Independent Bank Corp. (XNGS) | 30,310 | 2,559 | |
Lazard Ltd. Class A | 72,319 | 2,507 | |
OneMain Holdings Inc. | 73,556 | 2,450 | |
* | Brighthouse Financial Inc. | 46,197 | 2,369 |
* | Ryan Specialty Holdings Inc. | 56,899 | 2,362 |
Assured Guaranty Ltd. | 37,797 | 2,353 | |
CVB Financial Corp. | 89,568 | 2,306 | |
*,1 | SoFi Technologies Inc. | 497,897 | 2,295 |
White Mountains Insurance Group Ltd. | 1,613 | 2,281 | |
Blackstone Mortgage Trust Inc. Class A | 107,589 | 2,278 |
Shares | Market Value• ($000) | ||
United Community Banks Inc. | 67,089 | 2,268 | |
ServisFirst Bancshares Inc. | 32,769 | 2,258 | |
Evercore Inc. Class A | 20,670 | 2,255 | |
Community Bank System Inc. | 35,689 | 2,247 | |
First Hawaiian Inc. | 85,011 | 2,214 | |
Associated Banc-Corp. | 95,065 | 2,195 | |
UMB Financial Corp. | 25,928 | 2,165 | |
FirstCash Holdings Inc. | 24,379 | 2,119 | |
* | Credit Acceptance Corp. | 4,395 | 2,085 |
Federated Hermes Inc. | 57,229 | 2,078 | |
Ameris Bancorp | 43,922 | 2,070 | |
Kemper Corp. | 41,889 | 2,061 | |
Bank of Hawaii Corp. | 26,327 | 2,042 | |
Radian Group Inc. | 107,062 | 2,042 | |
Janus Henderson Group plc | 86,278 | 2,029 | |
First Interstate BancSystem Inc. Class A | 52,188 | 2,017 | |
Pacific Premier Bancorp Inc. | 63,789 | 2,013 | |
* | Texas Capital Bancshares Inc. | 32,345 | 1,951 |
Cathay General Bancorp | 47,646 | 1,943 | |
Fulton Financial Corp. | 110,430 | 1,859 | |
WSFS Financial Corp. | 40,706 | 1,846 | |
Eastern Bankshares Inc. | 106,600 | 1,839 | |
PacWest Bancorp | 79,171 | 1,817 | |
* | Genworth Financial Inc. Class A | 338,717 | 1,792 |
Atlantic Union Bankshares Corp. | 50,023 | 1,758 | |
BankUnited Inc. | 51,659 | 1,755 | |
International Bancshares Corp. | 37,827 | 1,731 | |
Simmons First National Corp. Class A | 78,666 | 1,698 | |
Jackson Financial Inc. Class A | 48,777 | 1,697 | |
CNO Financial Group Inc. | 74,219 | 1,696 | |
Walker & Dunlop Inc. | 21,323 | 1,673 | |
First Merchants Corp. | 40,486 | 1,664 | |
* | Mr Cooper Group Inc. | 41,298 | 1,657 |
BOK Financial Corp. | 15,812 | 1,641 | |
* | Enstar Group Ltd. | 7,014 | 1,621 |
Moelis & Co. Class A | 41,667 | 1,599 | |
Columbia Banking System Inc. | 52,337 | 1,577 | |
First BanCorp. (XNYS) | 123,738 | 1,574 | |
Washington Federal Inc. | 44,892 | 1,506 | |
Piper Sandler Cos. | 11,465 | 1,493 | |
* | Axos Financial Inc. | 38,493 | 1,471 |
Banner Corp. | 23,079 | 1,459 | |
Independent Bank Group Inc. | 23,889 | 1,435 | |
WesBanco Inc. | 38,638 | 1,429 | |
First Financial Bancorp | 58,468 | 1,417 |
Shares | Market Value• ($000) | ||
Seacoast Banking Corp. of Florida | 45,296 | 1,413 | |
Arbor Realty Trust Inc. | 106,451 | 1,404 | |
Hamilton Lane Inc. Class A | 21,660 | 1,384 | |
Towne Bank | 44,853 | 1,383 | |
Park National Corp. | 9,719 | 1,368 | |
Virtu Financial Inc. Class A | 64,437 | 1,315 | |
Renasant Corp. | 34,565 | 1,299 | |
Artisan Partners Asset Management Inc. Class A | 43,471 | 1,291 | |
Trustmark Corp. | 36,658 | 1,280 | |
* | Focus Financial Partners Inc. Class A | 32,668 | 1,218 |
NBT Bancorp Inc. | 27,682 | 1,202 | |
1 | Claros Mortgage Trust Inc. | 79,885 | 1,175 |
Enterprise Financial Services Corp. | 23,928 | 1,172 | |
Stock Yards Bancorp Inc. | 17,861 | 1,161 | |
*,1 | Trupanion Inc. | 24,296 | 1,155 |
* | NMI Holdings Inc. Class A | 55,188 | 1,153 |
1 | TPG Inc. | 41,360 | 1,151 |
Northwest Bancshares Inc. | 81,861 | 1,144 | |
* | StoneX Group Inc. | 11,916 | 1,136 |
Lakeland Financial Corp. | 15,534 | 1,134 | |
Heartland Financial USA Inc. | 23,470 | 1,094 | |
PJT Partners Inc. Class A | 14,780 | 1,089 | |
Navient Corp. | 64,976 | 1,069 | |
National Bank Holdings Corp. Class A | 25,248 | 1,062 | |
* | BRP Group Inc. Class A | 42,054 | 1,057 |
BancFirst Corp. | 11,959 | 1,055 | |
Westamerica BanCorp. | 17,673 | 1,043 | |
* | Cannae Holdings Inc. | 50,250 | 1,038 |
Apollo Commercial Real Estate Finance Inc. | 96,220 | 1,035 | |
Cohen & Steers Inc. | 15,906 | 1,027 | |
Chimera Investment Corp. | 185,815 | 1,022 | |
Sandy Spring Bancorp Inc. | 28,706 | 1,011 | |
Provident Financial Services Inc. | 47,282 | 1,010 | |
Hope Bancorp Inc. | 78,564 | 1,006 | |
First Bancorp (XNGS) | 23,471 | 1,005 | |
* | Bancorp Inc. | 34,904 | 991 |
TriCo Bancshares | 19,340 | 986 | |
Horace Mann Educators Corp. | 26,197 | 979 | |
Eagle Bancorp Inc. | 21,788 | 960 | |
Veritex Holdings Inc. | 34,055 | 956 | |
Two Harbors Investment Corp. | 59,293 | 935 | |
Berkshire Hills Bancorp Inc. | 29,869 | 893 | |
Stellar Bancorp Inc. | 30,307 | 893 |
Shares | Market Value• ($000) | ||
Virtus Investment Partners Inc. | 4,650 | 890 | |
City Holding Co. | 9,521 | 886 | |
S&T Bancorp Inc. | 25,485 | 871 | |
First Commonwealth Financial Corp. | 62,287 | 870 | |
First Busey Corp. | 35,148 | 869 | |
StepStone Group Inc. Class A | 34,477 | 868 | |
Corebridge Financial Inc. | 43,271 | 868 | |
FB Financial Corp. | 23,950 | 866 | |
Hilltop Holdings Inc. | 28,388 | 852 | |
* | PRA Group Inc. | 25,009 | 845 |
Employers Holdings Inc. | 19,360 | 835 | |
Safety Insurance Group Inc. | 9,855 | 830 | |
OFG Bancorp | 30,081 | 829 | |
* | Blucora Inc. | 32,336 | 826 |
BGC Partners Inc. Class A | 218,575 | 824 | |
1 | ARMOUR Residential REIT Inc. | 145,888 | 821 |
OceanFirst Financial Corp. | 38,025 | 808 | |
PennyMac Financial Services Inc. | 14,217 | 806 | |
Pathward Financial Inc. | 18,572 | 800 | |
* | Enova International Inc. | 20,806 | 798 |
Stewart Information Services Corp. | 18,263 | 780 | |
1 | Ready Capital Corp. | 69,565 | 775 |
Southside Bancshares Inc. | 21,385 | 770 | |
Ladder Capital Corp. Class A | 76,036 | 763 | |
Compass Diversified Holdings | 41,066 | 749 | |
Nelnet Inc. Class A | 8,086 | 734 | |
Capitol Federal Financial Inc. | ��� 83,506 | 722 | |
* | Triumph Financial Inc. | 14,784 | 722 |
Origin Bancorp Inc. | 19,475 | 715 | |
Lakeland Bancorp Inc. | 40,156 | 707 | |
PennyMac Mortgage Investment Trust | 57,037 | 707 | |
* | Palomar Holdings Inc. | 15,554 | 702 |
MFA Financial Inc. REIT | 70,543 | 695 | |
Dime Community Bancshares Inc. | 21,596 | 687 | |
German American Bancorp Inc. | 18,387 | 686 | |
Franklin BSP Realty Trust Inc. REIT | 52,036 | 671 | |
Heritage Financial Corp. | 21,778 | 667 | |
AMERISAFE Inc. | 12,816 | 666 | |
* | Encore Capital Group Inc. | 13,895 | 666 |
Premier Financial Corp. | 24,679 | 666 | |
* | MoneyGram International Inc. | 60,826 | 662 |
Brookline Bancorp Inc. | 46,630 | 660 | |
Cowen Inc. Class A | 16,915 | 653 |
Shares | Market Value• ($000) | ||
* | Nicolet Bankshares Inc. | 8,011 | 639 |
Tompkins Financial Corp. | 8,236 | 639 | |
Live Oak Bancshares Inc. | 21,107 | 637 | |
Preferred Bank | 8,386 | 626 | |
ProAssurance Corp. | 35,652 | 623 | |
Federal Agricultural Mortgage Corp. Class C | 5,472 | 617 | |
* | Customers Bancorp Inc. | 21,607 | 612 |
Mercury General Corp. | 17,747 | 607 | |
New York Mortgage Trust Inc. | 233,659 | 598 | |
*,1 | Upstart Holdings Inc. | 44,843 | 593 |
* | LendingClub Corp. | 66,705 | 587 |
Argo Group International Holdings Ltd. | 22,697 | 587 | |
ConnectOne Bancorp Inc. | 24,205 | 586 | |
TFS Financial Corp. | 39,589 | 570 | |
1 | Bank First Corp. | 5,881 | 546 |
* | Columbia Financial Inc. | 25,194 | 545 |
1 | Rocket Cos. Inc. Class A | 77,800 | 545 |
Amerant Bancorp Inc. | 19,654 | 528 | |
Enact Holdings Inc. | 21,697 | 523 | |
Banc of California Inc. | 32,726 | 521 | |
Camden National Corp. | 12,445 | 519 | |
* | Ambac Financial Group Inc. | 29,552 | 515 |
Washington Trust Bancorp Inc. | 10,901 | 514 | |
Peoples Bancorp Inc. | 18,135 | 512 | |
QCR Holdings Inc. | 10,278 | 510 | |
First Bancorp Inc. (XNMS) | 15,859 | 508 | |
Heritage Commerce Corp. | 37,367 | 486 | |
Hanmi Financial Corp. | 19,616 | 485 | |
United Fire Group Inc. | 17,731 | 485 | |
First Foundation Inc. | 33,535 | 481 | |
WisdomTree Inc. | 87,812 | 479 | |
Brightsphere Investment Group Inc. | 23,285 | 479 | |
* | Lemonade Inc. | 34,908 | 478 |
Univest Financial Corp. | 17,983 | 470 | |
Northfield Bancorp Inc. | 29,814 | 469 | |
Redwood Trust Inc. | 68,178 | 461 | |
KKR Real Estate Finance Trust Inc. | 32,945 | 460 | |
Community Trust Bancorp Inc. | 9,971 | 458 | |
Ellington Financial Inc. | 36,623 | 453 | |
Kearny Financial Corp. | 43,112 | 438 | |
TrustCo Bank Corp. NY | 11,528 | 433 | |
Dynex Capital Inc. | 33,541 | 427 | |
James River Group Holdings Ltd. | 20,375 | 426 | |
HarborOne Bancorp Inc. | 30,455 | 423 |
Shares | Market Value• ($000) | ||
Victory Capital Holdings Inc. Class A | 15,703 | 421 | |
1 | Orchid Island Capital Inc. | 40,086 | 421 |
iStar Inc. | 53,957 | 412 | |
First Mid Bancshares Inc. | 12,765 | 409 | |
Old Second Bancorp Inc. | 25,521 | 409 | |
* | Goosehead Insurance Inc. Class A | 11,886 | 408 |
Flushing Financial Corp. | 20,973 | 406 | |
* | Open Lending Corp. Class A | 59,423 | 401 |
* | MBIA Inc. | 30,978 | 398 |
Cambridge Bancorp | 4,727 | 393 | |
Peapack-Gladstone Financial Corp. | 10,493 | 391 | |
B Riley Financial Inc. | 11,399 | 390 | |
* | Metropolitan Bank Holding Corp. | 6,652 | 390 |
Byline Bancorp Inc. | 16,831 | 387 | |
Brightspire Capital Inc. Class A | 61,010 | 380 | |
Midland States Bancorp Inc. | 14,003 | 373 | |
National Western Life Group Inc. Class A | 1,325 | 372 | |
* | Coastal Financial Corp. | 7,793 | 370 |
Amalgamated Financial Corp. | 16,023 | 369 | |
Great Southern Bancorp Inc. | 6,158 | 366 | |
CNB Financial Corp. | 15,254 | 363 | |
* | SiriusPoint Ltd. | 61,350 | 362 |
*,1 | Riot Blockchain Inc. | 105,831 | 359 |
* | Clearwater Analytics Holdings Inc. Class A | 18,871 | 354 |
Equity Bancshares Inc. Class A | 10,726 | 350 | |
Mercantile Bank Corp. | 10,446 | 350 | |
Business First Bancshares Inc. | 15,762 | 349 | |
*,1 | Silvergate Capital Corp. Class A | 20,036 | 349 |
HomeStreet Inc. | 12,531 | 346 | |
Horizon Bancorp Inc. | 22,909 | 345 | |
* | CrossFirst Bankshares Inc. | 27,698 | 344 |
First Financial Corp. | 7,285 | 336 | |
Central Pacific Financial Corp. | 16,183 | 328 | |
Bank of Marin Bancorp | 9,824 | 323 | |
Independent Bank Corp. | 13,430 | 321 | |
Bar Harbor Bankshares | 9,895 | 317 | |
* | EZCorp. Inc. Class A | 38,810 | 316 |
Diamond Hill Investment Group Inc. | 1,626 | 301 | |
* | Assetmark Financial Holdings Inc. | 12,850 | 296 |
Broadmark Realty Capital Inc. | 82,276 | 293 |
Shares | Market Value• ($000) | ||
First Community Bankshares Inc. | 8,565 | 290 | |
Arrow Financial Corp. | 8,460 | 287 | |
Alerus Financial Corp. | 12,077 | 282 | |
1 | CBL & Associates Properties Inc. | 12,130 | 280 |
TPG RE Finance Trust Inc. | 41,064 | 279 | |
SmartFinancial Inc. | 10,103 | 278 | |
Merchants Bancorp | 11,200 | 272 | |
P10 Inc. Class A | 25,496 | 272 | |
American National Bankshares Inc. | 7,342 | 271 | |
* | Bridgewater Bancshares Inc. | 15,252 | 271 |
Metrocity Bankshares Inc. | 12,490 | 270 | |
Peoples Financial Services Corp. | 5,056 | 262 | |
ACNB Corp. | 6,589 | 262 | |
* | Southern First Bancshares Inc. | 5,656 | 259 |
1 | Invesco Mortgage Capital REIT | 20,298 | 258 |
Capital City Bank Group Inc. | 7,891 | 256 | |
First of Long Island Corp. | 14,231 | 256 | |
*,1 | Marathon Digital Holdings Inc. | 74,868 | 256 |
Hingham Institution for Savings | 923 | 255 | |
Perella Weinberg Partners Class A | 25,929 | 254 | |
* | Blue Foundry Bancorp | 19,670 | 253 |
1 | NexPoint Diversified REIT | 22,210 | 249 |
Northrim BanCorp Inc. | 4,505 | 246 | |
Tiptree Inc. | 17,754 | 246 | |
Civista Bancshares Inc. | 11,120 | 245 | |
Farmers National Banc Corp. | 17,371 | 245 | |
HomeTrust Bancshares Inc. | 10,069 | 243 | |
Macatawa Bank Corp. | 22,021 | 243 | |
MidWestOne Financial Group Inc. | 7,622 | 242 | |
Mid Penn Bancorp Inc. | 8,011 | 240 | |
* | F&G Annuities & Life Inc. | 11,867 | 237 |
Citizens & Northern Corp. | 10,308 | 236 | |
Enterprise Bancorp Inc. | 6,660 | 235 | |
1 | John Marshall Bancorp Inc. | 7,930 | 228 |
1st Source Corp. | 4,239 | 225 | |
West BanCorp. Inc. | 8,776 | 224 | |
1 | Farmers & Merchants Bancorp Inc. | 8,192 | 223 |
GCM Grosvenor Inc. Class A | 29,149 | 222 | |
* | Professional Holding Corp. Class A | 7,960 | 221 |
Sierra Bancorp | 10,371 | 220 | |
Republic Bancorp Inc. Class A | 5,300 | 217 |
Shares | Market Value• ($000) | ||
Universal Insurance Holdings Inc. | 20,437 | 216 | |
* | Carter Bankshares Inc. | 12,707 | 211 |
Southern Missouri Bancorp Inc. | 4,591 | 210 | |
RBB Bancorp | 10,024 | 209 | |
Financial Institutions Inc. | 8,542 | 208 | |
Capstar Financial Holdings Inc. | 11,382 | 201 | |
* | Oscar Health Inc. Class A | 81,706 | 201 |
1 | UWM Holdings Corp. | 60,612 | 201 |
Primis Financial Corp. | 16,733 | 198 | |
Timberland Bancorp Inc. | 5,735 | 196 | |
HCI Group Inc. | 4,916 | 195 | |
1 | AFC Gamma Inc. | 12,195 | 192 |
Esquire Financial Holdings Inc. | 4,353 | 188 | |
Chicago Atlantic Real Estate Finance Inc. | 12,398 | 187 | |
FS Bancorp Inc. | 5,528 | 185 | |
Shore Bancshares Inc. | 10,622 | 185 | |
Codorus Valley Bancorp Inc. | 7,652 | 182 | |
Granite Point Mortgage Trust Inc. | 34,021 | 182 | |
South Plains Financial Inc. | 6,388 | 176 | |
BayCom Corp. | 9,049 | 172 | |
Investar Holding Corp. | 7,982 | 172 | |
1 | Northeast Community Bancorp Inc. | 11,548 | 172 |
ChoiceOne Financial Services Inc. | 5,893 | 171 | |
BCB Bancorp Inc. | 9,445 | 170 | |
First Internet Bancorp | 6,960 | 169 | |
Regional Management Corp. | 5,980 | 168 | |
First Bancorp Inc. (XNGS) | 5,583 | 167 | |
PCB Bancorp | 9,463 | 167 | |
Investors Title Co. | 1,118 | 165 | |
Orrstown Financial Services Inc. | 7,126 | 165 | |
*,1 | Third Coast Bancshares Inc. | 8,955 | 165 |
Community Financial Corp. | 4,110 | 164 | |
Five Star Bancorp | 5,975 | 163 | |
Northeast Bank | 3,845 | 162 | |
MainStreet Bancshares Inc. | 5,879 | 162 | |
Guaranty Bancshares Inc. | 4,660 | 161 | |
Waterstone Financial Inc. | 9,358 | 161 | |
ESSA Bancorp Inc. | 7,596 | 159 | |
Territorial Bancorp Inc. | 6,581 | 158 | |
* | First Western Financial Inc. | 5,599 | 158 |
First Business Financial Services Inc. | 4,292 | 157 | |
* | LendingTree Inc. | 7,381 | 157 |
MVB Financial Corp. | 7,102 | 156 | |
1 | PCSB Financial Corp. | 8,158 | 155 |
Shares | Market Value• ($000) | ||
Penns Woods Bancorp Inc. | 5,670 | 151 | |
Home Bancorp Inc. | 3,743 | 150 | |
Plumas Bancorp | 4,045 | 150 | |
National Bankshares Inc. | 3,647 | 147 | |
1 | Greene County Bancorp Inc. | 2,548 | 146 |
*,1 | Hagerty Inc. Class A | 17,303 | 146 |
Oppenheimer Holdings Inc. Class A | 3,410 | 144 | |
* | World Acceptance Corp. | 2,153 | 142 |
Colony Bankcorp Inc. | 11,165 | 142 | |
First Community Corp. | 6,423 | 141 | |
Summit Financial Group Inc. | 5,649 | 141 | |
* | Greenlight Capital Re Ltd. Class A | 17,246 | 141 |
* | California BanCorp. | 5,914 | 141 |
1 | Salisbury Bancorp Inc. | 4,464 | 140 |
Western New England Bancorp Inc. | 14,481 | 137 | |
LCNB Corp. | 7,580 | 136 | |
Red River Bancshares Inc. | 2,646 | 135 | |
Central Valley Community Bancorp | 6,312 | 134 | |
C&F Financial Corp. | 2,281 | 133 | |
Evans Bancorp Inc. | 3,554 | 133 | |
Norwood Financial Corp. | 3,972 | 133 | |
Southern States Bancshares Inc. | 4,587 | 133 | |
FNCB Bancorp Inc. | 15,952 | 131 | |
Parke Bancorp Inc. | 6,244 | 129 | |
Chemung Financial Corp. | 2,801 | 128 | |
* | FVCBankcorp Inc. | 6,717 | 128 |
Middlefield Banc Corp. | 4,658 | 128 | |
Peoples Bancorp of North Carolina Inc. | 3,935 | 128 | |
Capital Bancorp Inc. | 5,450 | 128 | |
Meridian Corp. | 4,236 | 128 | |
Great Ajax Corp. | 17,359 | 126 | |
Blue Ridge Bankshares Inc. | 9,916 | 124 | |
* | Forge Global Holdings Inc. | 71,666 | 124 |
First Bank | 8,936 | 123 | |
Bank of Princeton | 3,849 | 122 | |
Donegal Group Inc. Class A | 8,568 | 122 | |
* | Pioneer Bancorp Inc. | 10,394 | 118 |
AG Mortgage Investment Trust Inc. | 22,081 | 117 | |
First United Corp. | 5,904 | 116 | |
* | Malvern Bancorp Inc. | 6,545 | 116 |
*,1 | Hippo Holdings Inc. | 8,539 | 116 |
HBT Financial Inc. | 5,755 | 113 | |
Orange County Bancorp Inc. | 2,434 | 113 | |
* | ECB Bancorp Inc. | 7,042 | 113 |
Sculptor Capital Management Inc. Class A | 12,930 | 112 |
Shares | Market Value• ($000) | ||
Ames National Corp. | 4,723 | 111 | |
1 | First Guaranty Bancshares Inc. | 4,672 | 110 |
Old Point Financial Corp. | 4,032 | 109 | |
William Penn Bancorp Inc. | 8,580 | 104 | |
* | Sterling Bancorp Inc. | 16,749 | 102 |
Fidelity D&D Bancorp Inc. | 2,155 | 102 | |
loanDepot Inc. Class A | 61,728 | 102 | |
CF Bankshares Inc. | 4,748 | 101 | |
* | Ocwen Financial Corp. | 3,313 | 101 |
* | NI Holdings Inc. | 7,567 | 100 |
Greenhill & Co. Inc. | 9,629 | 99 | |
CB Financial Services Inc. | 4,564 | 98 | |
SB Financial Group Inc. | 5,628 | 94 | |
* | Arlington Asset Investment Corp. Class A | 31,693 | 93 |
Bankwell Financial Group Inc. | 3,177 | 93 | |
Crawford & Co. Class A | 16,750 | 93 | |
Silvercrest Asset Management Group Inc. Class A | 4,801 | 90 | |
United Bancorp Inc. | 6,101 | 90 | |
Union Bankshares Inc. | 3,794 | 89 | |
1 | Cherry Hill Mortgage Investment Corp. | 14,986 | 87 |
*,1 | USCB Financial Holdings Inc. | 7,092 | 87 |
Linkbancorp Inc. | 9,334 | 87 | |
Unity Bancorp Inc. | 3,134 | 86 | |
* | Trean Insurance Group Inc. | 14,276 | 86 |
Finward Bancorp | 2,353 | 85 | |
Nexpoint Real Estate Finance Inc. | 5,255 | 83 | |
1 | Hanover Bancorp Inc. | 4,065 | 83 |
* | Oportun Financial Corp. | 14,660 | 81 |
* | Ponce Financial Group Inc. | 8,735 | 81 |
* | Maiden Holdings Ltd. | 38,102 | 80 |
*,1 | Heritage Global Inc. | 34,014 | 80 |
Associated Capital Group Inc. Class A | 1,854 | 78 | |
Westwood Holdings Group Inc. | 7,041 | 78 | |
Seven Hills Realty Trust | 8,503 | 77 | |
*,1 | Citizens Inc. Class A | 35,558 | 76 |
1 | Provident Financial Holdings Inc. | 5,547 | 76 |
* | Consumer Portfolio Services Inc. | 8,509 | 75 |
Richmond Mutual BanCorp. Inc. | 5,788 | 75 | |
* | Velocity Financial LLC | 7,686 | 74 |
*,1 | Finwise Bancorp | 7,943 | 74 |
Bank7 Corp. | 2,764 | 71 | |
* | Rigetti Computing Inc. | 98,039 | 71 |
* | eHealth Inc. | 14,420 | 70 |
Summit State Bank | 4,372 | 69 |
Shares | Market Value• ($000) | ||
OP Bancorp | 5,995 | 67 | |
*,1 | Guild Holdings Co. Class A | 6,557 | 66 |
Medallion Financial Corp. | 8,839 | 63 | |
Eagle Bancorp Montana Inc. | 3,864 | 62 | |
* | ACRES Commercial Realty Corp. | 7,472 | 62 |
First Northwest Bancorp | 3,959 | 61 | |
1 | Hawthorn Bancshares Inc. | 2,780 | 61 |
Sachem Capital Corp. | 18,378 | 61 | |
AmeriServ Financial Inc. | 15,247 | 60 | |
Provident Bancorp Inc. | 8,209 | 60 | |
*,1 | Bakkt Holdings Inc. | 50,567 | 60 |
*,1 | Dave Inc. | 208,247 | 60 |
* | Safeguard Scientifics Inc. | 17,737 | 55 |
First Savings Financial Group Inc. | 2,763 | 55 | |
* | Republic First Bancorp Inc. | 25,101 | 54 |
1 | Lument Finance Trust Inc. | 27,115 | 52 |
Riverview Bancorp Inc. | 6,661 | 51 | |
Luther Burbank Corp. | 4,292 | 48 | |
BankFinancial Corp. | 4,443 | 47 | |
*,1 | Doma Holdings Inc. | 100,552 | 46 |
Sound Financial Bancorp Inc. | 1,102 | 45 | |
US Global Investors Inc. Class A | 15,552 | 45 | |
Curo Group Holdings Corp. | 12,507 | 44 | |
* | Great Elm Group Inc. | 18,596 | 38 |
Manhattan Bridge Capital Inc. | 6,830 | 37 | |
* | Elevate Credit Inc. | 20,549 | 36 |
Auburn National BanCorp Inc. | 1,551 | 36 | |
* | Security National Financial Corp. Class A | 4,981 | 36 |
Heritage Insurance Holdings Inc. | 19,570 | 35 | |
* | Midwest Holding Inc. | 2,640 | 34 |
1 | Angel Oak Mortgage Inc. | 6,897 | 33 |
* | Sunlight Financial Holdings Inc. | 24,670 | 32 |
* | GoHealth Inc. Class A | 3,042 | 32 |
Partners Bancorp. | 3,437 | 30 | |
First Financial Northwest Inc. | 1,845 | 28 | |
Hennessy Advisors Inc. | 3,282 | 28 | |
Limestone Bancorp Inc. | 1,127 | 28 | |
* | Broadway Financial Corp. | 24,365 | 25 |
* | Nicholas Financial Inc. | 3,692 | 23 |
United Insurance Holdings Corp. | 19,845 | 21 | |
* | Root Inc. Class A | 3,646 | 16 |
Kingstone Cos. Inc. | 8,512 | 11 |
Shares | Market Value• ($000) | ||
* | Conifer Holdings Inc. | 4,822 | 8 |
Crawford & Co. Class B | 845 | 4 | |
3,002,976 | |||
Health Care (14.8%) | |||
UnitedHealth Group Inc. | 626,824 | 332,330 | |
Johnson & Johnson | 1,752,288 | 309,542 | |
Eli Lilly & Co. | 573,630 | 209,857 | |
Pfizer Inc. | 3,766,515 | 192,996 | |
AbbVie Inc. | 1,185,752 | 191,629 | |
Merck & Co. Inc. | 1,699,770 | 188,589 | |
Thermo Fisher Scientific Inc. | 263,945 | 145,352 | |
Abbott Laboratories | 1,172,414 | 128,719 | |
Danaher Corp. | 439,497 | 116,651 | |
Bristol-Myers Squibb Co. | 1,426,123 | 102,610 | |
Amgen Inc. | 357,663 | 93,937 | |
Elevance Health Inc. | 160,375 | 82,268 | |
Gilead Sciences Inc. | 842,048 | 72,290 | |
Medtronic plc | 891,790 | 69,310 | |
Cigna Corp. | 205,436 | 68,069 | |
* | Intuitive Surgical Inc. | 236,816 | 62,839 |
Stryker Corp. | 228,171 | 55,786 | |
* | Vertex Pharmaceuticals Inc. | 172,055 | 49,686 |
* | Regeneron Pharmaceuticals Inc. | 68,116 | 49,145 |
Becton Dickinson and Co. | 190,106 | 48,344 | |
* | Boston Scientific Corp. | 960,887 | 44,460 |
Humana Inc. | 84,743 | 43,404 | |
Zoetis Inc. | 281,417 | 41,242 | |
* | Moderna Inc. | 220,296 | 39,570 |
HCA Healthcare Inc. | 142,215 | 34,126 | |
* | Centene Corp. | 379,481 | 31,121 |
* | Edwards Lifesciences Corp. | 414,771 | 30,946 |
Agilent Technologies Inc. | 197,813 | 29,603 | |
* | DexCom Inc. | 260,068 | 29,450 |
* | Biogen Inc. | 97,182 | 26,912 |
* | IQVIA Holdings Inc. | 124,400 | 25,488 |
* | IDEXX Laboratories Inc. | 55,616 | 22,689 |
* | Illumina Inc. | 106,201 | 21,474 |
ResMed Inc. | 98,729 | 20,548 | |
* | Alnylam Pharmaceuticals Inc. | 82,193 | 19,533 |
Zimmer Biomet Holdings Inc. | 141,221 | 18,006 | |
* | Horizon Therapeutics plc | 152,720 | 17,380 |
Baxter International Inc. | 340,021 | 17,331 | |
* | Veeva Systems Inc. Class A | 95,274 | 15,375 |
Laboratory Corp. of America Holdings | 59,101 | 13,917 | |
* | Insulet Corp. | 46,345 | 13,643 |
Cardinal Health Inc. | 174,823 | 13,439 | |
* | Molina Healthcare Inc. | 38,959 | 12,865 |
* | BioMarin Pharmaceutical Inc. | 124,247 | 12,858 |
* | Hologic Inc. | 165,617 | 12,390 |
STERIS plc | 66,704 | 12,320 | |
* | Seagen Inc. | 93,065 | 11,960 |
Shares | Market Value• ($000) | ||
Quest Diagnostics Inc. | 75,952 | 11,882 | |
PerkinElmer Inc. | 84,188 | 11,805 | |
West Pharmaceutical Services Inc. | 49,404 | 11,627 | |
Cooper Cos. Inc. | 33,059 | 10,932 | |
* | Align Technology Inc. | 49,555 | 10,451 |
* | Incyte Corp. | 125,794 | 10,104 |
Royalty Pharma plc Class A | 253,299 | 10,010 | |
Viatris Inc. | 823,964 | 9,171 | |
* | Avantor Inc. | 427,438 | 9,015 |
Bio-Techne Corp. | 106,719 | 8,845 | |
* | United Therapeutics Corp. | 30,396 | 8,453 |
Teleflex Inc. | 31,957 | 7,977 | |
* | Neurocrine Biosciences Inc. | 64,333 | 7,684 |
* | Charles River Laboratories International Inc. | 34,010 | 7,411 |
* | Henry Schein Inc. | 90,606 | 7,237 |
* | Sarepta Therapeutics Inc. | 55,307 | 7,167 |
* | Jazz Pharmaceuticals plc | 39,882 | 6,354 |
* | Repligen Corp. | 37,165 | 6,292 |
* | Bio-Rad Laboratories Inc. Class A | 14,219 | 5,979 |
* | Exact Sciences Corp. | 118,981 | 5,891 |
1 | Universal Health Services Inc. Class B | 40,691 | 5,733 |
* | Penumbra Inc. | 24,248 | 5,394 |
* | Catalent Inc. | 114,508 | 5,154 |
Chemed Corp. | 10,087 | 5,149 | |
* | Novocure Ltd. | 70,058 | 5,139 |
* | Halozyme Therapeutics Inc. | 90,075 | 5,125 |
* | Acadia Healthcare Co. Inc. | 60,901 | 5,013 |
* | Shockwave Medical Inc. | 24,117 | 4,959 |
* | Masimo Corp. | 33,427 | 4,946 |
* | Inspire Medical Systems Inc. | 19,444 | 4,898 |
Bruker Corp. | 68,869 | 4,707 | |
Organon & Co. | 168,193 | 4,698 | |
DENTSPLY SIRONA Inc. | 144,104 | 4,588 | |
Encompass Health Corp. | 66,646 | 3,986 | |
* | Elanco Animal Health Inc. (XNYS) | 318,292 | 3,890 |
* | Globus Medical Inc. Class A | 52,022 | 3,864 |
* | Envista Holdings Corp. | 112,370 | 3,783 |
* | Karuna Therapeutics Inc. | 18,468 | 3,629 |
* | Tenet Healthcare Corp. | 72,441 | 3,534 |
* | Exelixis Inc. | 216,257 | 3,469 |
* | HealthEquity Inc. | 55,932 | 3,448 |
* | Ionis Pharmaceuticals Inc. | 90,616 | 3,423 |
* | Medpace Holdings Inc. | 15,552 | 3,303 |
Ensign Group Inc. | 34,744 | 3,287 | |
* | Apellis Pharmaceuticals Inc. | 63,058 | 3,261 |
Shares | Market Value• ($000) | ||
* | LHC Group Inc. | 19,736 | 3,191 |
* | Option Care Health Inc. | 103,239 | 3,106 |
Perrigo Co. plc | 89,973 | 3,067 | |
* | Intra-Cellular Therapies Inc. | 57,348 | 3,035 |
* | Alkermes plc | 110,769 | 2,894 |
* | QuidelOrtho Corp. | 33,087 | 2,835 |
Premier Inc. Class A | 79,437 | 2,779 | |
* | Natera Inc. | 69,083 | 2,775 |
* | Cytokinetics Inc. | 60,538 | 2,774 |
* | Merit Medical Systems Inc. | 38,198 | 2,698 |
* | Arrowhead Pharmaceuticals Inc. | 66,416 | 2,694 |
* | Haemonetics Corp. | 33,649 | 2,646 |
* | Integra LifeSciences Holdings Corp. | 47,067 | 2,639 |
* | Madrigal Pharmaceuticals Inc. | 8,956 | 2,599 |
* | Prometheus Biosciences Inc. | 23,222 | 2,554 |
* | Syneos Health Inc. | 68,109 | 2,498 |
* | DaVita Inc. | 32,757 | 2,446 |
*,1 | ICU Medical Inc. | 14,966 | 2,357 |
* | Lantheus Holdings Inc. | 46,001 | 2,344 |
* | Vaxcyte Inc. | 47,864 | 2,295 |
* | Teladoc Health Inc. | 96,409 | 2,280 |
* | Amicus Therapeutics Inc. | 184,099 | 2,248 |
* | 10X Genomics Inc. Class A | 61,203 | 2,230 |
* | agilon health Inc. | 137,465 | 2,219 |
* | Doximity Inc. Class A | 63,473 | 2,130 |
* | Ultragenyx Pharmaceutical Inc. | 45,641 | 2,115 |
* | Neogen Corp. | 138,166 | 2,104 |
* | Prestige Consumer Healthcare Inc. | 33,520 | 2,098 |
* | Axonics Inc. | 33,257 | 2,080 |
* | 1Life Healthcare Inc. | 121,155 | 2,024 |
* | Oak Street Health Inc. | 89,763 | 1,931 |
* | Denali Therapeutics Inc. | 68,961 | 1,918 |
* | IVERIC bio Inc. | 89,418 | 1,914 |
* | Tandem Diabetes Care Inc. | 42,362 | 1,904 |
* | Intellia Therapeutics Inc. | 54,004 | 1,884 |
CONMED Corp. | 20,893 | 1,852 | |
* | Amedisys Inc. | 21,896 | 1,829 |
* | Inari Medical Inc. | 28,717 | 1,825 |
* | iRhythm Technologies Inc. | 19,438 | 1,821 |
* | PTC Therapeutics Inc. | 47,213 | 1,802 |
* | Insmed Inc. | 90,158 | 1,801 |
*,1 | Axsome Therapeutics Inc. | 23,282 | 1,796 |
* | Blueprint Medicines Corp. | 40,643 | 1,781 |
* | Beam Therapeutics Inc. | 45,535 | 1,781 |
* | Guardant Health Inc. | 64,386 | 1,751 |
* | Evolent Health Inc. Class A | 61,459 | 1,726 |
* | Vir Biotechnology Inc. | 67,206 | 1,701 |
Select Medical Holdings Corp. | 66,630 | 1,654 |
Shares | Market Value• ($000) | ||
* | Akero Therapeutics Inc. | 29,969 | 1,642 |
* | Enovis Corp. | 30,435 | 1,629 |
Patterson Cos. Inc. | 57,704 | 1,617 | |
* | Progyny Inc. | 50,015 | 1,558 |
* | STAAR Surgical Co. | 31,868 | 1,547 |
* | Mirati Therapeutics Inc. | 34,086 | 1,544 |
* | Omnicell Inc. | 29,294 | 1,477 |
* | BioCryst Pharmaceuticals Inc. | 127,845 | 1,468 |
* | Integer Holdings Corp. | 21,449 | 1,468 |
* | NuVasive Inc. | 35,515 | 1,465 |
* | Celldex Therapeutics Inc. | 32,437 | 1,446 |
* | Signify Health Inc. Class A | 49,382 | 1,415 |
* | Glaukos Corp. | 30,933 | 1,351 |
*,1 | Ginkgo Bioworks Holdings Inc. | 781,607 | 1,321 |
* | Cerevel Therapeutics Holdings Inc. | 41,693 | 1,315 |
* | REVOLUTION Medicines Inc. | 54,808 | 1,306 |
* | ACADIA Pharmaceuticals Inc. | 81,250 | 1,293 |
* | Silk Road Medical Inc. | 24,464 | 1,293 |
* | Certara Inc. | 80,247 | 1,290 |
* | AtriCure Inc. | 28,770 | 1,277 |
* | Sage Therapeutics Inc. | 33,027 | 1,260 |
* | Corcept Therapeutics Inc. | 61,449 | 1,248 |
* | TransMedics Group Inc. | 19,968 | 1,232 |
* | Amylyx Pharmaceuticals Inc. | 33,023 | 1,220 |
* | Krystal Biotech Inc. | 14,957 | 1,185 |
* | Catalyst Pharmaceuticals Inc. | 63,355 | 1,178 |
* | Supernus Pharmaceuticals Inc. | 32,984 | 1,177 |
* | Relay Therapeutics Inc. | 77,937 | 1,164 |
* | Pacific Biosciences of California Inc. | 139,795 | 1,144 |
* | Surgery Partners Inc. | 40,885 | 1,139 |
* | Pacira BioSciences Inc. | 28,710 | 1,108 |
* | Veracyte Inc. | 46,640 | 1,107 |
*,1 | Rhythm Pharmaceuticals Inc. | 37,886 | 1,103 |
* | Harmony Biosciences Holdings Inc. | 19,879 | 1,095 |
* | Addus HomeCare Corp. | 10,934 | 1,088 |
* | Syndax Pharmaceuticals Inc. | 42,477 | 1,081 |
* | Maravai LifeSciences Holdings Inc. Class A | 74,883 | 1,072 |
* | Arvinas Inc. | 30,886 | 1,057 |
* | Xencor Inc. | 39,729 | 1,035 |
* | Agios Pharmaceuticals Inc. | 36,572 | 1,027 |
* | Ironwood Pharmaceuticals Inc. Class A | 82,566 | 1,023 |
* | Phreesia Inc. | 31,497 | 1,019 |
* | TG Therapeutics Inc. | 85,182 | 1,008 |
Shares | Market Value• ($000) | ||
* | Revance Therapeutics Inc. | 54,270 | 1,002 |
*,1 | PROCEPT BioRobotics Corp. | 24,113 | 1,002 |
* | Chinook Therapeutics Inc. | 37,734 | 989 |
* | Owens & Minor Inc. | 50,511 | 986 |
* | Avidity Biosciences Inc. | 44,302 | 983 |
* | AdaptHealth Corp. Class A | 49,976 | 961 |
Embecta Corp. | 37,671 | 953 | |
* | Meridian Bioscience Inc. | 28,534 | 948 |
* | FibroGen Inc. | 57,103 | 915 |
* | Travere Thrapeutics Inc. | 42,522 | 894 |
* | Nevro Corp. | 22,284 | 882 |
* | Twist Bioscience Corp. | 37,019 | 881 |
* | Avanos Medical Inc. | 32,399 | 877 |
* | Dynavax Technologies Corp. | 81,950 | 872 |
* | Privia Health Group Inc. | 38,116 | 866 |
* | MannKind Corp. | 160,991 | 848 |
* | SpringWorks Therapeutics Inc. | 32,419 | 843 |
* | Vericel Corp. | 31,914 | 841 |
* | CorVel Corp. | 5,758 | 837 |
* | Pediatrix Medical Group Inc. | 55,482 | 824 |
* | Apollo Medical Holdings Inc. | 27,276 | 807 |
* | Replimune Group Inc. | 29,366 | 799 |
* | Outset Medical Inc. | 30,895 | 798 |
* | R1 RCM Inc. | 70,824 | 776 |
*,1 | Cassava Sciences Inc. | 26,237 | 775 |
* | ModivCare Inc. | 8,588 | 771 |
* | Warby Parker Inc. Class A | 56,145 | 757 |
* | Rocket Pharmaceuticals Inc. | 38,072 | 745 |
* | Myriad Genetics Inc. | 51,248 | 744 |
* | ImmunoGen Inc. | 145,888 | 724 |
* | NeoGenomics Inc. | 78,037 | 721 |
*,1 | DICE Therapeutics Inc. | 22,698 | 708 |
* | Viridian Therapeutics Inc. | 24,141 | 705 |
* | Day One Biopharmaceuticals Inc. | 32,768 | 705 |
* | Amphastar Pharmaceuticals Inc. | 25,012 | 701 |
* | Ligand Pharmaceuticals Inc. | 10,389 | 694 |
US Physical Therapy Inc. | 8,403 | 681 | |
* | Reata Pharmaceuticals Inc. Class A | 17,518 | 665 |
* | Kymera Therapeutics Inc. | 26,515 | 662 |
* | Immunovant Inc. | 36,686 | 651 |
* | Arcellx Inc. | 20,811 | 645 |
* | NextGen Healthcare Inc. | 34,265 | 643 |
* | Iovance Biotherapeutics Inc. | 100,465 | 642 |
Shares | Market Value• ($000) | ||
* | Adaptive Biotechnologies Corp. | 83,604 | 639 |
* | Aclaris Therapeutics Inc. | 40,404 | 636 |
* | Arcus Biosciences Inc. | 30,654 | 634 |
* | Ventyx Biosciences Inc. | 19,254 | 631 |
* | Alignment Healthcare Inc. | 53,229 | 626 |
Healthcare Services Group Inc. | 51,351 | 616 | |
* | Provention Bio Inc. | 56,692 | 599 |
LeMaitre Vascular Inc. | 12,968 | 597 | |
* | Keros Therapeutics Inc. | 12,408 | 596 |
* | Geron Corp. (XNGS) | 245,295 | 594 |
* | RadNet Inc. | 31,573 | 594 |
* | Treace Medical Concepts Inc. | 25,643 | 590 |
* | Enanta Pharmaceuticals Inc. | 12,671 | 589 |
* | Imago Biosciences Inc. | 16,173 | 581 |
* | Avid Bioservices Inc. | 41,974 | 578 |
* | Zentalis Pharmaceuticals Inc. | 28,650 | 577 |
* | Innoviva Inc. | 42,734 | 566 |
* | Deciphera Pharmaceuticals Inc. | 33,961 | 557 |
* | REGENXBIO Inc. | 24,573 | 557 |
* | Varex Imaging Corp. | 27,432 | 557 |
* | Sotera Health Co. | 66,690 | 556 |
* | ADMA Biologics Inc. | 141,451 | 549 |
* | Inhibrx Inc. | 22,277 | 549 |
* | Cytek Biosciences Inc. | 53,810 | 549 |
* | Fate Therapeutics Inc. | 54,076 | 546 |
*,1 | Nuvalent Inc. Class A | 18,284 | 544 |
*,1 | Novavax Inc. | 52,716 | 542 |
* | Ideaya Biosciences Inc. | 29,377 | 534 |
* | Bridgebio Pharma Inc. | 69,764 | 532 |
Atrion Corp. | 950 | 531 | |
* | Alphatec Holdings Inc. | 42,919 | 530 |
* | Recursion Pharmaceuticals Inc. Class A | 68,468 | 528 |
* | Crinetics Pharmaceuticals Inc. | 28,767 | 526 |
* | Viking Therapeutics Inc. | 55,785 | 524 |
* | Morphic Holding Inc. | 19,397 | 519 |
* | Arcutis Biotherapeutics Inc. | 34,869 | 516 |
National HealthCare Corp. | 8,649 | 515 | |
*,1 | Verve Therapeutics Inc. | 26,561 | 514 |
* | Collegium Pharmaceutical Inc. | 21,847 | 507 |
* | UFP Technologies Inc. | 4,279 | 504 |
* | Altimmune Inc. | 30,386 | 500 |
* | Pliant Therapeutics Inc. | 25,822 | 499 |
* | Cutera Inc. | 11,232 | 497 |
* | Kura Oncology Inc. | 39,662 | 492 |
* | EQRx Inc. | 199,871 | 492 |
* | ViewRay Inc. | 108,742 | 487 |
Shares | Market Value• ($000) | ||
* | Hims & Hers Health Inc. | 74,219 | 476 |
National Research Corp. | 12,703 | 474 | |
* | Theravance Biopharma Inc. | 41,732 | 468 |
* | BioLife Solutions Inc. | 25,648 | 467 |
* | CTI BioPharma Corp. | 75,819 | 456 |
*,1 | Anavex Life Sciences Corp. | 48,655 | 451 |
*,1 | Point Biopharma Global Inc. | 61,839 | 451 |
* | American Well Corp. Class A | 158,201 | 448 |
* | Cogent Biosciences Inc. | 38,680 | 447 |
* | Enhabit Inc. | 33,323 | 439 |
* | AnaptysBio Inc. | 14,122 | 438 |
* | Agenus Inc. | 181,563 | 436 |
* | HealthStream Inc. | 17,513 | 435 |
* | Heska Corp. | 6,948 | 432 |
* | Alector Inc. | 46,681 | 431 |
* | Cerus Corp. | 117,250 | 428 |
* | CareDx Inc. | 36,939 | 421 |
* | Editas Medicine Inc. Class A | 46,258 | 410 |
* | Health Catalyst Inc. | 38,571 | 410 |
* | Coherus Biosciences Inc. | 50,883 | 403 |
*,1 | Fulgent Genetics Inc. | 13,415 | 399 |
* | ANI Pharmaceuticals Inc. | 9,798 | 394 |
* | Community Health Systems Inc. | 88,429 | 382 |
* | Accolade Inc. | 48,104 | 375 |
* | OrthoPediatrics Corp. | 9,379 | 373 |
*,1 | 23andMe Holding Co. Class A | 172,212 | 372 |
* | Agiliti Inc. | 22,749 | 371 |
* | Seres Therapeutics Inc. | 66,052 | 370 |
* | 4D Molecular Therapeutics Inc. | 16,636 | 369 |
* | Cymabay Therapeutics Inc. | 58,479 | 367 |
* | Mersana Therapeutics Inc. | 62,625 | 367 |
* | Cardiovascular Systems Inc. | 26,903 | 366 |
* | AVEO Pharmaceuticals Inc. | 24,456 | 366 |
* | Rapt Therapeutics Inc. | 18,269 | 362 |
* | Esperion Therapeutics Inc. | 57,940 | 361 |
* | iTeos Therapeutics Inc. | 18,508 | 361 |
* | Cara Therapeutics Inc. | 33,488 | 360 |
* | Castle Biosciences Inc. | 15,171 | 357 |
* | Emergent BioSolutions Inc. | 30,037 | 355 |
* | AngioDynamics Inc. | 25,475 | 351 |
* | 89bio Inc. | 27,336 | 348 |
* | MaxCyte Inc. | 63,539 | 347 |
* | Ardelyx Inc. | 121,488 | 346 |
* | Sangamo Therapeutics Inc. | 110,293 | 346 |
* | Bluebird Bio Inc. | 49,578 | 343 |
* | OPKO Health Inc. | 273,854 | 342 |
Shares | Market Value• ($000) | ||
* | Lyell Immunopharma Inc. | 97,047 | 337 |
*,1 | Zymeworks Inc. | 42,912 | 337 |
* | Allakos Inc. | 39,930 | 336 |
* | Sutro Biopharma Inc. | 40,875 | 330 |
* | Anika Therapeutics Inc. | 11,076 | 328 |
* | Protagonist Therapeutics Inc. | 29,793 | 325 |
* | Invitae Corp. | 174,382 | 324 |
* | Mirum Pharmaceuticals Inc. | 16,599 | 324 |
* | Bioxcel Therapeutics Inc. | 15,053 | 323 |
* | Paragon 28 Inc. | 16,873 | 322 |
* | Brookdale Senior Living Inc. | 117,747 | 321 |
* | Allogene Therapeutics Inc. | 50,847 | 320 |
* | Artivion Inc. | 26,298 | 319 |
* | Quanterix Corp. | 22,735 | 315 |
*,1 | Sharecare Inc. | 197,135 | 315 |
* | Intercept Pharmaceuticals Inc. | 25,295 | 313 |
* | Albireo Pharma Inc. | 14,251 | 308 |
* | Kezar Life Sciences Inc. | 43,585 | 307 |
* | Nurix Therapeutics Inc. | 27,960 | 307 |
* | Inovio Pharmaceuticals Inc. | 195,712 | 305 |
* | DocGo Inc. | 43,149 | 305 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 19,941 | 299 |
* | Inogen Inc. | 15,064 | 297 |
* | Orthofix Medical Inc. | 14,324 | 294 |
* | Surmodics Inc. | 8,541 | 291 |
*,1 | Bionano Genomics Inc. | 198,365 | 290 |
* | Edgewise Therapeutics Inc. | 32,287 | 289 |
* | Scholar Rock Holding Corp. | 31,110 | 282 |
* | ImmunityBio Inc. | 55,303 | 280 |
*,1 | Compass Therapeutics Inc. | 55,213 | 278 |
* | MacroGenics Inc. | 41,349 | 277 |
*,1 | Senseonics Holdings Inc. | 269,188 | 277 |
*,1 | Tango Therapeutics Inc. | 38,224 | 277 |
* | Aldeyra Therapeutics Inc. | 39,700 | 276 |
* | Nektar Therapeutics Class A | 122,239 | 276 |
* | Multiplan Corp. | 240,079 | 276 |
* | Vanda Pharmaceuticals Inc. | 37,164 | 275 |
* | Arcturus Therapeutics Holdings Inc. | 15,956 | 271 |
*,1 | Sorrento Therapeutics Inc. | 298,805 | 265 |
* | 2seventy bio Inc. | 28,225 | 264 |
* | SI-BONE Inc. | 19,272 | 262 |
* | Atea Pharmaceuticals Inc. | 54,141 | 260 |
* | PMV Pharmaceuticals Inc. | 29,279 | 255 |
Shares | Market Value• ($000) | ||
*,1 | LifeStance Health Group Inc. | 49,785 | 246 |
* | SomaLogic Inc. | 97,861 | 246 |
* | Apollo Endosurgery Inc. | 24,333 | 243 |
* | BioAtla Inc. | 28,992 | 239 |
* | NanoString Technologies Inc. | 29,545 | 235 |
*,1 | Sana Biotechnology Inc. | 58,914 | 233 |
* | OraSure Technologies Inc. | 47,836 | 231 |
* | MiMedx Group Inc. | 82,288 | 229 |
*,1 | GoodRx Holdings Inc. Class A | 49,148 | 229 |
* | PDS Biotechnology Corp. | 17,161 | 227 |
*,1 | Aerovate Therapeutics Inc. | 7,673 | 225 |
* | Computer Programs and Systems Inc. | 8,198 | 223 |
* | Fulcrum Therapeutics Inc. | 30,402 | 221 |
* | Arbutus Biopharma Corp. | 94,484 | 220 |
* | Sight Sciences Inc. | 17,966 | 219 |
* | Axogen Inc. | 21,846 | 218 |
* | Eagle Pharmaceuticals Inc. | 7,396 | 216 |
Zynex Inc. | 15,250 | 212 | |
* | Liquidia Corp. | 33,257 | 212 |
*,1 | Pennant Group Inc. | 19,258 | 211 |
* | Dyne Therapeutics Inc. | 18,113 | 210 |
* | Concert Pharmaceuticals Inc. | 35,310 | 206 |
* | Harrow Health Inc. | 13,876 | 205 |
* | Butterfly Network Inc. | 83,265 | 205 |
* | Pulmonx Corp. | 23,982 | 202 |
* | SeaSpine Holdings Corp. | 24,102 | 201 |
* | Viemed Healthcare Inc. | 26,437 | 200 |
* | Tarsus Pharmaceuticals Inc. | 13,620 | 200 |
* | Atara Biotherapeutics Inc. | 60,082 | 197 |
* | HilleVax Inc. | 11,751 | 197 |
* | Codexis Inc. | 41,959 | 196 |
* | Caribou Biosciences Inc. | 31,157 | 196 |
* | Actinium Pharmaceuticals Inc. | 18,282 | 195 |
* | Cullinan Oncology Inc. | 18,523 | 195 |
* | Seer Inc. Class A | 33,292 | 193 |
* | Clover Health Investments Corp. Class A | 207,451 | 193 |
Utah Medical Products Inc. | 1,908 | 192 | |
* | Nuvation Bio Inc. | 100,004 | 192 |
* | Vor BioPharma Inc. | 28,015 | 186 |
* | Heron Therapeutics Inc. | 73,891 | 185 |
* | Evolus Inc. | 24,497 | 184 |
* | Adicet Bio Inc. | 20,544 | 184 |
* | Assertio Holdings Inc. | 42,703 | 184 |
* | OmniAb Inc. | 50,906 | 183 |
Shares | Market Value• ($000) | ||
* | Amneal Pharmaceuticals Inc. | 91,556 | 182 |
Phibro Animal Health Corp. Class A | 13,442 | 180 | |
* | Terns Pharmaceuticals Inc. | 17,639 | 180 |
1 | SIGA Technologies Inc. | 24,311 | 179 |
* | Rigel Pharmaceuticals Inc. | 118,372 | 178 |
* | OptimizeRx Corp. | 10,556 | 177 |
*,1 | Erasca Inc. | 40,997 | 177 |
* | Zimvie Inc. | 18,957 | 177 |
* | Ocugen Inc. | 135,443 | 176 |
* | Joint Corp. | 12,384 | 173 |
* | PetIQ Inc. Class A | 18,318 | 169 |
* | Karyopharm Therapeutics Inc. | 49,545 | 168 |
* | Alpine Immune Sciences Inc. | 22,850 | 168 |
* | Astria Therapeutics Inc. | 11,312 | 168 |
* | IGM Biosciences Inc. | 9,841 | 167 |
*,1 | Cabaletta Bio Inc. | 18,083 | 167 |
* | Entrada Therapeutics Inc. | 12,169 | 165 |
* | ClearPoint Neuro Inc. | 19,277 | 163 |
* | C4 Therapeutics Inc. | 27,453 | 162 |
* | CVRx Inc. | 8,704 | 160 |
* | Vera Therapeutics Inc. Class A | 8,026 | 155 |
* | ALX Oncology Holdings Inc. | 13,412 | 151 |
*,1 | Phathom Pharmaceuticals Inc. | 13,388 | 150 |
*,1 | Sanara Medtech Inc. | 3,304 | 150 |
* | Tactile Systems Technology Inc. | 13,009 | 149 |
* | Annexon Inc. | 28,844 | 149 |
*,1 | CareMax Inc. | 40,950 | 149 |
* | Kodiak Sciences Inc. | 20,721 | 148 |
* | NGM Biopharmaceuticals Inc. | 29,422 | 148 |
* | Ocular Therapeutix Inc. | 52,253 | 147 |
iRadimed Corp. | 5,161 | 146 | |
*,1 | Optinose Inc. | 78,993 | 146 |
* | G1 Therapeutics Inc. | 26,630 | 145 |
*,1 | ARS Pharmaceuticals Inc. | 16,780 | 143 |
* | Poseida Therapeutics Inc. | 25,855 | 137 |
* | Gritstone bio Inc. | 39,292 | 136 |
*,1 | 908 Devices Inc. | 17,668 | 135 |
* | Cano Health Inc. | 98,892 | 135 |
* | Puma Biotechnology Inc. | 31,801 | 134 |
*,1 | Vigil Neuroscience Inc. | 10,718 | 134 |
* | Aadi Bioscience Inc. | 10,337 | 133 |
* | Savara Inc. | 85,084 | 132 |
* | Biomea Fusion Inc. | 15,528 | 131 |
*,1 | Prime Medicine Inc. | 7,078 | 131 |
* | CorMedix Inc. | 30,814 | 130 |
* | Neuronetics Inc. | 18,525 | 127 |
* | Akoya Biosciences Inc. | 13,086 | 125 |
* | Organogenesis Holdings Inc. Class A | 45,335 | 122 |
* | GlycoMimetics Inc. | 39,833 | 121 |
Shares | Market Value• ($000) | ||
* | KalVista Pharmaceuticals Inc. | 17,876 | 121 |
* | Stoke Therapeutics Inc. | 13,132 | 121 |
* | Gossamer Bio Inc. | 55,531 | 120 |
* | X4 Pharmaceuticals Inc. | 120,734 | 120 |
* | ORIC Pharmaceuticals Inc. | 20,428 | 120 |
* | Cincor Pharma Inc. | 9,794 | 120 |
* | Innovage Holding Corp. | 16,618 | 119 |
* | Accuray Inc. | 56,460 | 118 |
* | Summit Therapeutics Inc. | 27,701 | 118 |
*,1 | Lineage Cell Therapeutics Inc. | 99,941 | 117 |
* | Design Therapeutics Inc. | 11,218 | 115 |
*,1 | Outlook Therapeutics Inc. | 105,871 | 114 |
*,1 | Icosavax Inc. | 14,363 | 114 |
* | An2 Therapeutics Inc. | 11,939 | 114 |
* | Y-mAbs Therapeutics Inc. | 23,165 | 113 |
* | Avita Medical Inc. | 16,954 | 112 |
* | Larimar Therapeutics Inc. | 26,882 | 111 |
*,1 | KemPharm Inc. | 24,085 | 111 |
*,1 | Zomedica Corp. | 672,102 | 110 |
*,1 | Monte Rosa Therapeutics Inc. | 14,315 | 109 |
* | Cue Health Inc. | 51,949 | 108 |
* | Beyond Air Inc. | 16,450 | 107 |
*,1 | Rain Oncology Inc. | 13,141 | 105 |
* | RxSight Inc. | 8,313 | 105 |
*,1 | Precigen Inc. | 68,517 | 104 |
*,1 | Xeris Biopharma Holdings Inc. | 78,258 | 104 |
* | Nkarta Inc. | 17,135 | 103 |
*,1 | Marinus Pharmaceuticals Inc. | 26,005 | 103 |
* | Selecta Biosciences Inc. | 89,345 | 101 |
*,1 | Omega Therapeutics Inc. | 17,625 | 101 |
* | Allovir Inc. | 19,387 | 99 |
*,1 | Bright Health Group Inc. | 151,953 | 99 |
* | Generation Bio Co. | 25,032 | 98 |
* | Quantum-Si Inc. | 53,609 | 98 |
*,1 | Sonendo Inc. | 34,483 | 98 |
* | Janux Therapeutics Inc. | 7,344 | 97 |
* | Semler Scientific Inc. | 2,930 | 97 |
*,2 | PDL BioPharma Inc. | 76,234 | 96 |
* | scPharmaceuticals Inc. | 13,399 | 96 |
* | Greenwich Lifesciences Inc. | 6,258 | 95 |
* | Chimerix Inc. | 50,447 | 94 |
*,1 | Omeros Corp. | 41,682 | 94 |
* | Kinnate Biopharma Inc. | 15,091 | 92 |
* | Lexicon Pharmaceuticals Inc. | 47,908 | 91 |
* | Anixa Biosciences Inc. | 21,079 | 90 |
* | Berkeley Lights Inc. | 33,469 | 90 |
* | Celcuity Inc. | 6,440 | 90 |
Shares | Market Value• ($000) | ||
*,1 | Foghorn Therapeutics Inc. | 13,954 | 89 |
*,1 | Evelo Biosciences Inc. | 54,959 | 88 |
* | Aura Biosciences Inc. | 8,362 | 88 |
*,1 | Sesen Bio Inc. | 143,290 | 87 |
* | Voyager Therapeutics Inc. | 14,203 | 87 |
* | Repro-Med Systems Inc. | 24,313 | 87 |
* | XOMA Corp. | 4,608 | 85 |
*,1 | Rani Therapeutics Holdings Inc. Class A | 14,248 | 84 |
* | Frequency Therapeutics Inc. | 21,606 | 83 |
* | Sensus Healthcare Inc. | 11,106 | 82 |
* | InfuSystem Holdings Inc. | 9,429 | 82 |
*,1 | Acumen Pharmaceuticals Inc. | 15,267 | 82 |
* | Tabula Rasa HealthCare Inc. | 16,298 | 81 |
* | FONAR Corp. | 4,742 | 79 |
*,1 | Vaxart Inc. | 82,063 | 79 |
* | Stereotaxis Inc. | 37,475 | 78 |
* | Prelude Therapeutics Inc. | 12,903 | 78 |
* | CytomX Therapeutics Inc. | 48,168 | 77 |
* | Ovid therapeutics Inc. | 40,633 | 76 |
*,1 | Ocuphire Pharma Inc. | 21,645 | 76 |
* | Relmada Therapeutics Inc. | 21,534 | 75 |
* | Capricor Therapeutics Inc. | 19,231 | 74 |
* | Graphite Bio Inc. | 22,375 | 74 |
* | Matinas BioPharma Holdings Inc. | 146,195 | 73 |
*,1 | Rallybio Corp. | 11,052 | 73 |
*,1 | Alaunos Therapeutics Inc. | 111,142 | 72 |
* | Athira Pharma Inc. | 22,843 | 72 |
* | Century Therapeutics Inc. | 13,813 | 71 |
*,1 | CEL–SCI Corp. | 29,843 | 70 |
* | Cue Biopharma Inc. | 24,434 | 70 |
* | Harvard Bioscience Inc. | 25,313 | 70 |
* | Rezolute Inc. | 33,333 | 69 |
* | Adagio Therapeutics Inc. | 45,821 | 69 |
*,1 | Citius Pharmaceuticals Inc. | 85,694 | 68 |
* | Nautilus Biotechnology Inc. | 37,768 | 68 |
*,1 | Humacyte Inc. | 32,332 | 68 |
* | Akebia Therapeutics Inc. | 115,906 | 67 |
* | EyePoint Pharmaceuticals Inc. | 18,741 | 66 |
*,1 | Disc Medicine Inc. | 3,343 | 66 |
* | Standard Bio Tools Inc. | 55,941 | 65 |
* | ChromaDex Corp. | 37,499 | 63 |
* | Praxis Precision Medicines Inc. | 26,629 | 63 |
* | Inotiv Inc. | 12,773 | 63 |
* | Annovis Bio Inc. | 4,518 | 61 |
Shares | Market Value• ($000) | ||
* | Absci Corp. | 28,820 | 61 |
*,1 | Hancock Jaffe Laboratories Inc. | 11,710 | 60 |
* | Opiant Pharmaceuticals Inc. | 2,938 | 60 |
* | Trevi Therapeutics Inc. | 31,348 | 60 |
* | Tela Bio Inc. | 5,011 | 58 |
*,1 | Asensus Surgical Inc. | 165,733 | 58 |
* | Tyra Biosciences Inc. | 7,492 | 57 |
* | Co-Diagnostics Inc. | 22,364 | 56 |
* | Olema Pharmaceuticals Inc. | 22,688 | 56 |
*,1 | Vaxxinity Inc. Class A | 40,231 | 56 |
*,1 | BrainStorm Cell Therapeutics Inc. | 33,748 | 55 |
* | Durect Corp. | 15,978 | 55 |
*,1 | PepGen Inc. | 3,938 | 53 |
* | Enzo Biochem Inc. | 36,523 | 52 |
* | Celularity Inc. | 40,095 | 52 |
*,1 | Paratek Pharmaceuticals Inc. | 27,473 | 51 |
*,1 | Verastem Inc. | 124,272 | 50 |
*,1 | Seelos Therapeutics Inc. | 73,139 | 50 |
* | Shattuck Labs Inc. | 21,109 | 49 |
* | Personalis Inc. | 24,439 | 48 |
* | Oncology Institute Inc. | 29,068 | 48 |
*,1 | Genprex Inc. | 32,101 | 47 |
*,1 | Theseus Pharmaceuticals Inc. | 9,484 | 47 |
* | CytoSorbents Corp. | 29,596 | 46 |
*,1 | Atossa Therapeutics Inc. | 87,558 | 46 |
*,1 | Impel Pharmaceuticals Inc. | 12,285 | 46 |
*,1 | Talkspace Inc. | 75,188 | 46 |
*,1 | Third Harmonic Bio Inc. | 10,433 | 45 |
* | Apyx Medical Corp. | 18,313 | 43 |
*,1 | Societal CDMO Inc. | 29,155 | 43 |
*,1 | Eton Pharmaceuticals Inc. | 15,500 | 43 |
* | Passage Bio Inc. | 30,974 | 43 |
* | Vicarious Surgical Inc. | 21,349 | 43 |
* | Galectin Therapeutics Inc. | 37,318 | 42 |
* | Kronos Bio Inc. | 25,786 | 42 |
*,1 | Viracta Therapeutics Inc. | 28,450 | 42 |
* | Immuneering Corp. Class A | 8,681 | 42 |
* | Merrimack Pharmaceuticals Inc. | 3,556 | 41 |
* | XBiotech Inc. | 11,624 | 41 |
* | Geron Corp. Warrant Exp. 12/31/25 | 73,748 | 41 |
*,1 | Spectrum Pharmaceuticals Inc. | 109,299 | 40 |
*,1 | Forian Inc. | 14,566 | 40 |
*,1 | Adverum Biotechnologies Inc. | 67,508 | 39 |
* | Homology Medicines Inc. | 30,844 | 39 |
* | Pro-Dex Inc. | 2,523 | 39 |
* | Cardiff Oncology Inc. | 27,727 | 39 |
* | Singular Genomics Systems Inc. | 19,503 | 39 |
Shares | Market Value• ($000) | ||
*,1 | P3 Health Partners Inc. | 21,070 | 39 |
* | Fortress Biotech Inc. | 57,880 | 38 |
*,1 | Vapotherm Inc. | 13,917 | �� 38 |
* | Clearside Biomedical Inc. | 33,371 | 37 |
* | aTyr Pharma Inc. | 17,108 | 37 |
* | Cidara Therapeutics Inc. | 48,780 | 37 |
* | Dare Bioscience Inc. | 44,843 | 37 |
* | Movano Inc. | 28,211 | 37 |
* | Precision BioSciences Inc. | 30,107 | 36 |
* | Infinity Pharmaceuticals Inc. | 65,713 | 36 |
* | Lantern Pharma Inc. | 5,987 | 36 |
*,1 | SELLAS Life Sciences Group Inc. | 14,948 | 35 |
* | Bioventus Inc. Class A | 13,494 | 35 |
* | Curis Inc. | 61,130 | 34 |
* | Oncternal Therapeutics Inc. | 34,025 | 34 |
*,1 | Spero Therapeutics Inc. | 19,689 | 34 |
* | Tenaya Therapeutics Inc. | 16,974 | 34 |
* | Black Diamond Therapeutics Inc. | 18,268 | 33 |
* | Eledon Pharmaceuticals Inc. | 13,263 | 31 |
* | Alpha Teknova Inc. | 5,588 | 31 |
* | CareCloud Inc. | 11,111 | 31 |
*,1 | TherapeuticsMD Inc. | 5,486 | 31 |
* | Eiger BioPharmaceuticals Inc. | 25,269 | 30 |
* | Synlogic Inc. | 39,063 | 30 |
* | Verrica Pharmaceuticals Inc. | 10,956 | 30 |
*,1 | Pulse Biosciences Inc. | 10,869 | 30 |
*,1 | Dermtech Inc. | 16,722 | 30 |
* | MyMD Pharmaceuticals Inc. | 26,030 | 30 |
* | Pardes Biosciences Inc. | 17,730 | 30 |
* | Lipocine Inc. | 74,945 | 29 |
* | Orgenesis Inc. | 14,863 | 29 |
* | SmileDirectClub Inc. | 81,621 | 29 |
* | Dyadic International Inc. | 23,051 | 28 |
* | iCAD Inc. | 15,565 | 28 |
*,1 | Syros Pharmaceuticals Inc. | 7,704 | 28 |
* | Checkpoint Therapeutics Inc. | 5,358 | 27 |
* | IsoRay Inc. | 104,951 | 26 |
* | Eyenovia Inc. | 16,207 | 26 |
*,1 | Ikena Oncology Inc. | 9,909 | 26 |
* | Aveanna Healthcare Holdings Inc. | 33,268 | 26 |
*,1 | NRX Pharmaceuticals Inc. | 23,700 | 26 |
* | Corvus Pharmaceuticals Inc. | 29,109 | 25 |
* | Diamedica Therapeutics Inc. | 15,764 | 25 |
* | Jounce Therapeutics Inc. | 22,404 | 25 |
Shares | Market Value• ($000) | ||
*,1 | PAVmed Inc. | 51,627 | 25 |
* | Scynexis Inc. | 15,858 | 25 |
* | Bolt Biotherapeutics Inc. | 18,932 | 25 |
* | Exagen Inc. | 9,919 | 24 |
* | Inozyme Pharma Inc. | 22,831 | 24 |
*,1 | Lyra Therapeutics Inc. | 7,194 | 23 |
* | Leap Therapeutics Inc. | 50,658 | 23 |
* | Aligos Therapeutics Inc. | 24,596 | 23 |
*,1 | Oncocyte Corp. | 67,695 | 22 |
*,1 | Acutus Medical Inc. | 19,578 | 22 |
* | Decibel Therapeutics Inc. | 10,874 | 22 |
* | Sensei Biotherapeutics Inc. | 15,072 | 22 |
* | Instil Bio Inc. | 34,524 | 22 |
*,1 | Lumos Pharma Inc. | 5,932 | 21 |
* | Taysha Gene Therapies Inc. | 9,398 | 21 |
* | Lensar Inc. | 6,985 | 21 |
*,1 | MEI Pharma Inc. | 81,598 | 20 |
*,2 | Tobira Therapeutics Inc. CVR | 4,500 | 20 |
* | Equillium Inc. | 17,857 | 20 |
* | Sema4 Holdings Corp. | 77,358 | 20 |
* | Science 37 Holdings Inc. | 47,942 | 20 |
* | Palatin Technologies Inc. | 7,653 | 20 |
*,1 | Conformis Inc. | 5,947 | 20 |
*,1 | Aquestive Therapeutics Inc. | 20,542 | 19 |
*,1 | Immunic Inc. | 13,685 | 19 |
*,1 | Adamis Pharmaceuticals Corp. | 114,367 | 19 |
* | Hepion Pharmaceuticals Inc. | 62,061 | 19 |
*,1 | Clene Inc. | 19,510 | 19 |
* | Accelerate Diagnostics Inc. | 25,335 | 18 |
*,1 | Lannett Co. Inc. | 33,675 | 18 |
* | Milestone Scientific Inc. | 37,457 | 18 |
* | Talaris Therapeutics Inc. | 17,570 | 18 |
* | Avalo Therapeutics Inc. | 3,596 | 18 |
*,1 | Enochian Biosciences Inc. | 16,459 | 17 |
* | Atreca Inc. Class A | 21,020 | 17 |
* | Strata Skin Sciences Inc. | 21,171 | 17 |
*,1 | Ekso Bionics Holdings Inc. | 14,085 | 17 |
* | Inmune Bio Inc. | 2,641 | 17 |
* | Satsuma Pharmaceuticals Inc. | 17,641 | 16 |
* | Surface Oncology Inc. | 20,025 | 16 |
* | Pyxis Oncology Inc. | 11,615 | 16 |
* | Pear Therapeutics Inc. | 13,471 | 16 |
*,1 | Solid Biosciences Inc. | 2,967 | 16 |
* | Aeglea BioTherapeutics Inc. | 34,242 | 15 |
*,1 | Marker Therapeutics Inc. | 56,903 | 15 |
* | Alimera Sciences Inc. | 5,583 | 15 |
Shares | Market Value• ($000) | ||
*,1 | Aspira Women's Health Inc. | 46,365 | 15 |
* | Retractable Technologies Inc. | 9,432 | 15 |
* | Werewolf Therapeutics Inc. | 7,424 | 15 |
* | GT Biopharma Inc. | 16,272 | 15 |
* | Cocrystal Pharma Inc. | 7,576 | 15 |
*,1 | BioSig Technologies Inc. | 34,130 | 14 |
* | ElectroCore Inc. | 55,556 | 14 |
* | Harpoon Therapeutics Inc. | 19,516 | 14 |
* | IRIDEX Corp. | 7,102 | 14 |
* | Angion Biomedica Corp. | 17,453 | 14 |
*,1 | AIM ImmunoTech Inc. | 43,668 | 14 |
* | Precipio Inc. | 25,063 | 14 |
* | Processa Pharmaceuticals Inc. | 13,054 | 14 |
*,1 | Invacare Corp. | 31,358 | 13 |
* | Magenta Therapeutics Inc. | 33,990 | 13 |
* | TFF Pharmaceuticals Inc. | 12,846 | 13 |
* | Delcath Systems Inc. | 3,498 | 13 |
*,1 | Pulmatrix Inc. | 3,290 | 13 |
* | Bright Green Corp. | 26,666 | 13 |
*,1 | Corbus Pharmaceuticals Holdings Inc. | 112,969 | 12 |
* | Venus Concept Inc. | 38,610 | 12 |
* | Neoleukin Therapeutics Inc. | 24,542 | 12 |
* | SQZ Biotechnologies Co. | 15,806 | 12 |
* | Idera Pharmaceuticals Inc. | 32,106 | 11 |
* | Aptinyx Inc. Class A | 36,742 | 11 |
*,1 | Spruce Biosciences Inc. | 9,665 | 11 |
*,1 | Codex DNA Inc. | 8,909 | 11 |
*,1 | AcelRx Pharmaceuticals Inc. | 4,832 | 11 |
* | 9 Meters Biopharma Inc. | 8,771 | 11 |
* | Molecular Templates Inc. | 29,805 | 10 |
* | Cortexyme Inc. | 14,974 | 10 |
*,1 | Oragenics Inc. | 96,154 | 10 |
* | Diffusion Pharmaceuticals Inc. | 1,886 | 10 |
*,1 | Athenex Inc. | 64,126 | 9 |
*,1 | Sientra Inc. | 44,671 | 9 |
* | AlerisLife Inc. | 16,734 | 9 |
*,1 | Biora Therapeutics Inc. | 71,857 | 9 |
*,1 | Eargo Inc. | 15,482 | 9 |
* | VistaGen Therapeutics Inc. | 91,295 | 9 |
* | Onconova Therapeutics Inc. | 14,441 | 9 |
* | Cyteir Therapeutics Inc. | 5,209 | 9 |
* | Surgalign Holdings Inc. | 4,370 | 9 |
*,1 | Chembio Diagnostics Inc. | 36,394 | 8 |
* | NeuroPace Inc. | 5,190 | 8 |
Shares | Market Value• ($000) | ||
* | Rapid Micro Biosystems Inc. Class A | 7,185 | 8 |
* | ATI Physical Therapy Inc. | 25,974 | 8 |
* | Tempest Therapeutics Inc. | 6,821 | 8 |
*,1 | Vivos Therapeutics Inc. | 19,268 | 8 |
* | Celsion Corp. | 6,172 | 8 |
* | Cellectar Biosciences Inc. | 4,608 | 8 |
* | Aprea Therapeutics Inc. | 22,727 | 7 |
* | Finch Therapeutics Group Inc. | 13,688 | 7 |
* | Vincerx Pharma Inc. | 6,849 | 7 |
* | Novan Inc. | 4,751 | 7 |
* | Aileron Therapeutics Inc. | 3,012 | 7 |
* | Trevena Inc. | 5,114 | 7 |
* | UpHealth Inc. | 4,033 | 7 |
* | Rubius Therapeutics Inc. | 33,140 | 6 |
* | Applied Molecular Transport Inc. | 15,287 | 6 |
* | Axcella Health Inc. | 18,758 | 6 |
* | Sigilon Therapeutics Inc. | 17,730 | 6 |
*,1 | Surrozen Inc. | 10,142 | 6 |
*,1 | SAB Biotherapeutics Inc. | 10,730 | 6 |
*,1 | NantHealth Inc. | 1,594 | 6 |
* | Elevation Oncology Inc. | 5,352 | 5 |
* | eFFECTOR Therapeutics Inc. | 11,437 | 5 |
* | Codiak Biosciences Inc. | 10,303 | 4 |
* | NexImmune Inc. | 14,792 | 4 |
* | Athersys Inc. | 4,976 | 4 |
* | Hookipa Pharma Inc. | 4,083 | 3 |
* | iBio Inc. | 7,283 | 3 |
*,1 | Eloxx Pharmaceuticals Inc. | 1,704 | 3 |
*,1 | 180 Life Sciences Corp. | 833 | 3 |
* | Tricida Inc. | 14,239 | 2 |
* | Talis Biomedical Corp. | 5,090 | 2 |
* | Lucira Health Inc. | 12,487 | 1 |
*,2 | Synergy Pharmaceuticals Inc. | 412,534 | — |
*,2 | Progenics Pharmaceuticals Inc. CVR | 106,497 | — |
*,2 | OmniAb Inc. Earnout 12.50 | 3,939 | — |
*,2 | OmniAb Inc. Earnout 15.00 | 3,939 | — |
3,769,093 | |||
Industrials (13.6%) | |||
Visa Inc. Class A | 1,092,420 | 226,961 | |
Mastercard Inc. Class A | 576,250 | 200,379 | |
Accenture plc Class A | 422,340 | 112,697 | |
Raytheon Technologies Corp. | 986,958 | 99,604 | |
Honeywell International Inc. | 450,109 | 96,458 |
Shares | Market Value• ($000) | ||
Lockheed Martin Corp. | 175,756 | 85,504 | |
Union Pacific Corp. | 412,606 | 85,438 | |
United Parcel Service Inc. Class B | 490,456 | 85,261 | |
Caterpillar Inc. | 348,942 | 83,593 | |
Deere & Co. | 182,068 | 78,063 | |
* | Boeing Co. | 399,895 | 76,176 |
Automatic Data Processing Inc. | 278,224 | 66,457 | |
General Electric Co. | 733,507 | 61,461 | |
American Express Co. | 375,152 | 55,429 | |
* | PayPal Holdings Inc. | 764,056 | 54,416 |
Northrop Grumman Corp. | 92,775 | 50,619 | |
3M Co. | 370,051 | 44,377 | |
CSX Corp. | 1,411,761 | 43,736 | |
Eaton Corp. plc | 266,629 | 41,847 | |
General Dynamics Corp. | 165,464 | 41,053 | |
Illinois Tool Works Inc. | 185,365 | 40,836 | |
* | Fiserv Inc. | 382,881 | 38,698 |
Norfolk Southern Corp. | 155,154 | 38,233 | |
Emerson Electric Co. | 396,287 | 38,067 | |
Sherwin-Williams Co. | 156,085 | 37,044 | |
Johnson Controls International plc | 460,348 | 29,462 | |
FedEx Corp. | 157,492 | 27,278 | |
Fidelity National Information Services Inc. | 397,459 | 26,968 | |
L3Harris Technologies Inc. | 128,190 | 26,690 | |
Cintas Corp. | 57,904 | 26,151 | |
Trane Technologies plc | 154,419 | 25,956 | |
Parker-Hannifin Corp. | 86,758 | 25,247 | |
Paychex Inc. | 217,306 | 25,112 | |
Capital One Financial Corp. | 257,701 | 23,956 | |
Carrier Global Corp. | 560,183 | 23,108 | |
Cummins Inc. | 94,603 | 22,921 | |
* | Block Inc. (XNYS) | 363,088 | 22,816 |
Otis Worldwide Corp. | 279,164 | 21,861 | |
TransDigm Group Inc. | 34,506 | 21,727 | |
AMETEK Inc. | 154,440 | 21,578 | |
* | Mettler-Toledo International Inc. | 14,916 | 21,560 |
PACCAR Inc. | 209,029 | 20,688 | |
DuPont de Nemours Inc. | 301,138 | 20,667 | |
* | Keysight Technologies Inc. | 119,309 | 20,410 |
Rockwell Automation Inc. | 77,412 | 19,939 | |
PPG Industries Inc. | 158,042 | 19,872 | |
Old Dominion Freight Line Inc. | 67,178 | 19,064 | |
Verisk Analytics Inc. Class A | 104,954 | 18,516 | |
Global Payments Inc. | 182,449 | 18,121 | |
Ferguson plc | 140,989 | 17,901 | |
WW Grainger Inc. | 30,575 | 17,007 | |
* | United Rentals Inc. | 47,006 | 16,707 |
Equifax Inc. | 82,507 | 16,036 | |
Fortive Corp. | 238,937 | 15,352 | |
Vulcan Materials Co. | 84,457 | 14,789 | |
Ingersoll Rand Inc. | 270,040 | 14,110 |
Shares | Market Value• ($000) | ||
Martin Marietta Materials Inc. | 41,536 | 14,038 | |
Quanta Services Inc. | 97,301 | 13,865 | |
* | Waters Corp. | 39,913 | 13,673 |
Xylem Inc. | 120,352 | 13,307 | |
Dover Corp. | 94,680 | 12,821 | |
* | Teledyne Technologies Inc. | 31,374 | 12,547 |
Westinghouse Air Brake Technologies Corp. | 117,535 | 11,731 | |
IDEX Corp. | 50,730 | 11,583 | |
Expeditors International of Washington Inc. | 107,010 | 11,120 | |
Ball Corp. | 209,528 | 10,715 | |
Jacobs Solutions Inc. | 85,132 | 10,222 | |
Textron Inc. | 141,976 | 10,052 | |
* | Fair Isaac Corp. | 16,672 | 9,980 |
Synchrony Financial | 300,768 | 9,883 | |
JB Hunt Transport Services Inc. | 56,097 | 9,781 | |
Howmet Aerospace Inc. | 247,937 | 9,771 | |
Booz Allen Hamilton Holding Corp. Class A | 88,638 | 9,264 | |
* | Zebra Technologies Corp. Class A | 34,455 | 8,835 |
HEICO Corp. Class A | 72,387 | 8,676 | |
Hubbell Inc. Class B | 36,756 | 8,626 | |
Jack Henry & Associates Inc. | 49,125 | 8,624 | |
* | FleetCor Technologies Inc. | 46,697 | 8,577 |
RPM International Inc. | 87,252 | 8,503 | |
* | Trimble Inc. | 164,435 | 8,314 |
Nordson Corp. | 34,875 | 8,290 | |
Carlisle Cos. Inc. | 34,993 | 8,246 | |
Snap-on Inc. | 35,549 | 8,123 | |
Packaging Corp. of America | 61,916 | 7,920 | |
Toro Co. | 69,639 | 7,883 | |
AECOM | 92,506 | 7,857 | |
Stanley Black & Decker Inc. | 102,123 | 7,671 | |
Graco Inc. | 112,742 | 7,583 | |
* | Axon Enterprise Inc. | 45,206 | 7,501 |
TransUnion | 129,111 | 7,327 | |
* | Bill.com Holdings Inc. | 66,918 | 7,291 |
CH Robinson Worldwide Inc. | 78,431 | 7,181 | |
Masco Corp. | 152,096 | 7,098 | |
Crown Holdings Inc. | 79,947 | 6,572 | |
* | Builders FirstSource Inc. | 99,578 | 6,461 |
* | WillScot Mobile Mini Holdings Corp. | 138,998 | 6,279 |
Huntington Ingalls Industries Inc. | 26,823 | 6,188 | |
Allegion plc | 58,502 | 6,158 | |
Westrock Co. | 170,435 | 5,992 | |
AGCO Corp. | 42,237 | 5,858 | |
Genpact Ltd. | 124,661 | 5,774 | |
Watsco Inc. | 22,757 | 5,676 | |
Lincoln Electric Holdings Inc. | 38,809 | 5,608 |
Shares | Market Value• ($000) | ||
* | Paylocity Holding Corp. | 27,872 | 5,414 |
Owens Corning | 62,544 | 5,335 | |
Knight-Swift Transportation Holdings Inc. | 101,373 | 5,313 | |
Regal Rexnord Corp. | 44,009 | 5,280 | |
Cognex Corp. | 109,953 | 5,180 | |
Lennox International Inc. | 21,406 | 5,121 | |
Tetra Tech Inc. | 35,223 | 5,114 | |
Robert Half International Inc. | 68,605 | 5,065 | |
Berry Global Group Inc. | 83,390 | 5,039 | |
* | Middleby Corp. | 37,063 | 4,963 |
Pentair plc | 110,065 | 4,951 | |
AptarGroup Inc. | 44,354 | 4,878 | |
A O Smith Corp. | 85,220 | 4,878 | |
Fortune Brands Innovations Inc. | 85,069 | 4,858 | |
Donaldson Co. Inc. | 82,258 | 4,843 | |
Sealed Air Corp. | 97,085 | 4,843 | |
EMCOR Group Inc. | 32,611 | 4,830 | |
* | WEX Inc. | 29,124 | 4,766 |
Valmont Industries Inc. | 14,274 | 4,720 | |
Graphic Packaging Holding Co. | 204,458 | 4,549 | |
ITT Inc. | 55,274 | 4,483 | |
nVent Electric plc | 111,630 | 4,294 | |
Curtiss-Wright Corp. | 25,309 | 4,226 | |
* | WESCO International Inc. | 33,733 | 4,223 |
* | Generac Holdings Inc. | 41,931 | 4,221 |
Sensata Technologies Holding plc | 102,222 | 4,128 | |
MDU Resources Group Inc. | 135,270 | 4,104 | |
Advanced Drainage Systems Inc. | 49,753 | 4,078 | |
Sonoco Products Co. | 65,573 | 3,981 | |
Landstar System Inc. | 23,917 | 3,896 | |
Woodward Inc. | 39,948 | 3,859 | |
Oshkosh Corp. | 43,211 | 3,811 | |
MKS Instruments Inc. | 44,840 | 3,799 | |
* | Axalta Coating Systems Ltd. | 148,782 | 3,789 |
* | Mohawk Industries Inc. | 36,154 | 3,696 |
* | Saia Inc. | 17,583 | 3,687 |
Littelfuse Inc. | 16,622 | 3,660 | |
MSA Safety Inc. | 25,126 | 3,623 | |
* | MasTec Inc. | 41,837 | 3,570 |
Acuity Brands Inc. | 21,474 | 3,556 | |
Western Union Co. | 257,294 | 3,543 | |
BWX Technologies Inc. | 60,453 | 3,511 | |
* | ExlService Holdings Inc. | 20,710 | 3,509 |
* | FTI Consulting Inc. | 22,008 | 3,495 |
Brunswick Corp. | 47,946 | 3,456 | |
* | GXO Logistics Inc. | 80,019 | 3,416 |
Exponent Inc. | 33,835 | 3,353 | |
* | TopBuild Corp. | 21,353 | 3,342 |
Eagle Materials Inc. | 25,132 | 3,339 | |
* | Chart Industries Inc. | 28,346 | 3,266 |
* | Fluor Corp. | 93,757 | 3,250 |
Applied Industrial Technologies Inc. | 25,382 | 3,199 |
Shares | Market Value• ($000) | ||
Crane Holdings Co. | 31,690 | 3,183 | |
* | Trex Co. Inc. | 74,340 | 3,147 |
Maximus Inc. | 41,113 | 3,015 | |
* | Atkore Inc. | 26,471 | 3,002 |
* | AMN Healthcare Services Inc. | 29,094 | 2,991 |
* | Euronet Worldwide Inc. | 31,299 | 2,954 |
* | Aerojet Rocketdyne Holdings Inc. | 51,868 | 2,901 |
Silgan Holdings Inc. | ��� 54,843 | 2,843 | |
ManpowerGroup Inc. | 33,476 | 2,786 | |
Insperity Inc. | 23,834 | 2,708 | |
Comfort Systems USA Inc. | 23,457 | 2,699 | |
Ryder System Inc. | 32,295 | 2,699 | |
Air Lease Corp. Class A | 70,174 | 2,696 | |
Triton International Ltd. | 38,613 | 2,656 | |
Flowserve Corp. | 86,054 | 2,640 | |
Watts Water Technologies Inc. Class A | 17,974 | 2,628 | |
HB Fuller Co. | 36,021 | 2,580 | |
* | Kirby Corp. | 39,947 | 2,571 |
* | ASGN Inc. | 31,518 | 2,568 |
Altra Industrial Motion Corp. | 42,816 | 2,558 | |
Allison Transmission Holdings Inc. | 61,350 | 2,552 | |
Simpson Manufacturing Co. Inc. | 28,659 | 2,541 | |
* | ATI Inc. | 84,648 | 2,528 |
Maxar Technologies Inc. | 48,345 | 2,501 | |
Louisiana-Pacific Corp. | 42,123 | 2,494 | |
GATX Corp. | 23,084 | 2,455 | |
* | XPO Inc. | 73,171 | 2,436 |
MSC Industrial Direct Co. Inc. Class A | 29,532 | 2,413 | |
* | API Group Corp. | 125,041 | 2,352 |
* | Summit Materials Inc. Class A | 79,728 | 2,263 |
Herc Holdings Inc. | 16,720 | 2,200 | |
Badger Meter Inc. | 19,412 | 2,116 | |
AAON Inc. | 27,863 | 2,099 | |
Belden Inc. | 29,070 | 2,090 | |
* | Bloom Energy Corp. Class A | 108,617 | 2,077 |
Armstrong World Industries Inc. | 30,191 | 2,071 | |
Vontier Corp. | 107,148 | 2,071 | |
ADT Inc. | 227,599 | 2,064 | |
Spirit AeroSystems Holdings Inc. Class A | 69,658 | 2,062 | |
Franklin Electric Co. Inc. | 25,668 | 2,047 | |
Zurn Elkay Water Solutions Corp. | 96,193 | 2,034 | |
* | Marqeta Inc. Class A | 329,361 | 2,012 |
Albany International Corp. Class A | 20,389 | 2,010 | |
EnerSys | 26,790 | 1,978 | |
John Bean Technologies Corp. | 21,501 | 1,964 |
Shares | Market Value• ($000) | ||
ABM Industries Inc. | 43,753 | 1,944 | |
* | Atlas Air Worldwide Holdings Inc. | 18,909 | 1,906 |
* | SPX Technologies Inc. | 28,923 | 1,899 |
UniFirst Corp. | 9,799 | 1,891 | |
* | Shift4 Payments Inc. Class A | 32,791 | 1,834 |
Forward Air Corp. | 17,445 | 1,830 | |
Federal Signal Corp. | 39,367 | 1,829 | |
Korn Ferry | 35,706 | 1,807 | |
HEICO Corp. | 11,684 | 1,795 | |
Terex Corp. | 41,928 | 1,791 | |
Esab Corp. | 38,065 | 1,786 | |
* | Dycom Industries Inc. | 19,051 | 1,783 |
Hillenbrand Inc. | 41,246 | 1,760 | |
* | ACI Worldwide Inc. | 75,775 | 1,743 |
* | Beacon Roofing Supply Inc. | 32,697 | 1,726 |
* | TriNet Group Inc. | 24,877 | 1,687 |
Moog Inc. Class A | 19,206 | 1,686 | |
Otter Tail Corp. | 28,449 | 1,670 | |
*,1 | Mercury Systems Inc. | 37,014 | 1,656 |
* | O-I Glass Inc. | 99,624 | 1,651 |
Trinity Industries Inc. | 55,583 | 1,644 | |
* | Hub Group Inc. Class A | 20,563 | 1,635 |
Matson Inc. | 25,778 | 1,611 | |
McGrath RentCorp. | 16,300 | 1,609 | |
* | Resideo Technologies Inc. | 97,128 | 1,598 |
Brink's Co. | 29,224 | 1,570 | |
* | Alight Inc. Class A | 186,769 | 1,561 |
Encore Wire Corp. | 11,332 | 1,559 | |
EnPro Industries Inc. | 14,248 | 1,549 | |
Werner Enterprises Inc. | 38,312 | 1,542 | |
* | Itron Inc. | 29,729 | 1,506 |
ESCO Technologies Inc. | 16,862 | 1,476 | |
* | CBIZ Inc. | 31,478 | 1,475 |
* | Flywire Corp. | 60,222 | 1,474 |
* | GMS Inc. | 29,075 | 1,448 |
* | AZEK Co. Inc. Class A | 70,773 | 1,438 |
* | AeroVironment Inc. | 16,307 | 1,397 |
* | Verra Mobility Corp. Class A | 100,484 | 1,390 |
Brady Corp. Class A | 29,059 | 1,369 | |
EVERTEC Inc. | 42,167 | 1,365 | |
Kadant Inc. | 7,686 | 1,365 | |
* | RXO Inc. | 78,761 | 1,355 |
Barnes Group Inc. | 33,140 | 1,354 | |
Greif Inc. Class A | 19,469 | 1,306 | |
* | Air Transport Services Group Inc. | 49,518 | 1,286 |
Installed Building Products Inc. | 15,005 | 1,284 | |
*,1 | Affirm Holdings Inc. | 131,578 | 1,272 |
Bread Financial Holdings Inc. | 33,502 | 1,262 | |
Kennametal Inc. | 51,719 | 1,244 | |
Griffon Corp. | 34,636 | 1,240 | |
Helios Technologies Inc. | 22,120 | 1,204 | |
* | Masonite International Corp. | 14,927 | 1,203 |
ICF International Inc. | 12,129 | 1,201 | |
Lindsay Corp. | 7,356 | 1,198 | |
* | NV5 Global Inc. | 8,986 | 1,189 |
Shares | Market Value• ($000) | ||
CSW Industrials Inc. | 10,046 | 1,165 | |
Mueller Water Products Inc. Class A | 107,014 | 1,151 | |
International Seaways Inc. | 29,678 | 1,099 | |
1 | Granite Construction Inc. | 29,933 | 1,050 |
* | MYR Group Inc. | 11,381 | 1,048 |
* | Evo Payments Inc. Class A | 30,913 | 1,046 |
ArcBest Corp. | 14,819 | 1,038 | |
Veritiv Corp. | 8,384 | 1,020 | |
Alamo Group Inc. | 6,965 | 986 | |
H&E Equipment Services Inc. | 21,434 | 973 | |
* | AAR Corp. | 21,502 | 965 |
FTAI Aviation Ltd. | 56,335 | 964 | |
* | Gibraltar Industries Inc. | 20,893 | 959 |
* | Huron Consulting Group Inc. | 13,204 | 959 |
Enerpac Tool Group Corp. Class A | 36,689 | 934 | |
* | Payoneer Global Inc. | 166,561 | 911 |
* | Enovix Corp. | 71,957 | 895 |
* | Core & Main Inc. Class A | 46,076 | 890 |
* | Kratos Defense & Security Solutions Inc. | 84,867 | 876 |
* | CoreCivic Inc. | 73,790 | 853 |
* | OSI Systems Inc. | 10,692 | 850 |
Patrick Industries Inc. | 14,015 | 849 | |
Standex International Corp. | 8,184 | 838 | |
* | Vicor Corp. | 15,479 | 832 |
* | AvidXchange Holdings Inc. | 81,650 | 812 |
Tennant Co. | 12,963 | 798 | |
Marten Transport Ltd. | 40,284 | 797 | |
* | Montrose Environmental Group Inc. | 17,944 | 797 |
TriMas Corp. | 28,333 | 786 | |
* | Gates Industrial Corp. plc | 68,764 | 785 |
Primoris Services Corp. | 35,682 | 783 | |
Kforce Inc. | 13,498 | 740 | |
Wabash National Corp. | 32,081 | 725 | |
* | Construction Partners Inc. Class A | 26,330 | 703 |
* | PGT Innovations Inc. | 39,130 | 703 |
* | Modine Manufacturing Co. | 34,967 | 694 |
* | Hillman Solutions Corp. | 96,211 | 694 |
* | Rocket Lab USA Inc. | 182,365 | 688 |
* | Sterling Infrastructure Inc. | 20,701 | 679 |
Greenbrier Cos. Inc. | 20,106 | 674 | |
* | Energy Recovery Inc. | 32,726 | 671 |
* | Cross Country Healthcare Inc. | 24,857 | 660 |
* | Remitly Global Inc. | 56,902 | 652 |
* | Masterbrand Inc. | 85,069 | 642 |
Shares | Market Value• ($000) | ||
Apogee Enterprises Inc. | 14,390 | 640 | |
AZZ Inc. | 15,672 | 630 | |
* | Hayward Holdings Inc. | 66,901 | 629 |
Columbus McKinnon Corp. | 18,897 | 614 | |
Astec Industries Inc. | 14,990 | 609 | |
* | Napco Security Technologies Inc. | 22,084 | 607 |
Schneider National Inc. Class B | 25,321 | 593 | |
* | Donnelley Financial Solutions Inc. | 15,197 | 587 |
*,1 | Joby Aviation Inc. | 175,227 | 587 |
Douglas Dynamics Inc. | 15,634 | 565 | |
Mesa Laboratories Inc. | 3,399 | 565 | |
TTEC Holdings Inc. | 12,779 | 564 | |
* | Titan International Inc. | 35,420 | 543 |
* | Aspen Aerogels Inc. | 45,965 | 542 |
* | CryoPort Inc. | 31,264 | 542 |
* | International Money Express Inc. | 21,778 | 531 |
Shyft Group Inc. | 21,374 | 531 | |
* | American Woodmark Corp. | 10,668 | 521 |
* | Mirion Technologies Inc. | 78,701 | 520 |
Myers Industries Inc. | 23,354 | 519 | |
*,1 | Nikola Corp. | 237,009 | 512 |
* | Green Dot Corp. Class A | 32,065 | 507 |
CRA International Inc. | 4,137 | 506 | |
* | Titan Machinery Inc. | 12,688 | 504 |
* | Proterra Inc. | 132,229 | 499 |
* | LegalZoom.Com Inc. | 63,535 | 492 |
Quanex Building Products Corp. | 20,720 | 491 | |
* | First Advantage Corp. | 37,156 | 483 |
* | JELD-WEN Holding Inc. | 48,517 | 468 |
* | Proto Labs Inc. | 18,265 | 466 |
* | Thermon Group Holdings Inc. | 23,090 | 464 |
*,1 | PureCycle Technologies Inc. | 68,285 | 462 |
* | Vivint Smart Home Inc. | 38,486 | 458 |
* | SP Plus Corp. | 13,055 | 453 |
* | Virgin Galactic Holdings Inc. | 129,673 | 451 |
* | Leonardo DRS Inc. | 35,211 | 450 |
Deluxe Corp. | 26,435 | 449 | |
Heartland Express Inc. | 29,246 | 449 | |
Cass Information Systems Inc. | 9,788 | 448 | |
* | Conduent Inc. | 110,060 | 446 |
Kaman Corp. | 19,711 | 440 | |
* | ZipRecruiter Inc. Class A | 26,307 | 432 |
* | Repay Holdings Corp. Class A | 53,054 | 427 |
Chase Corp. | 4,896 | 422 | |
* | TrueBlue Inc. | 21,435 | 420 |
* | Janus International Group Inc. | 43,664 | 416 |
* | Triumph Group Inc. | 39,116 | 412 |
Barrett Business Services Inc. | 4,348 | 406 |
Shares | Market Value• ($000) | ||
* | Paya Holdings Inc. | 51,639 | 406 |
* | Franklin Covey Co. | 8,643 | 404 |
Resources Connection Inc. | 21,381 | 393 | |
Ennis Inc. | 17,315 | 384 | |
Heidrick & Struggles International Inc. | 13,509 | 378 | |
* | Ducommun Inc. | 7,555 | 377 |
* | FARO Technologies Inc. | 12,657 | 372 |
* | BlueLinx Holdings Inc. | 5,178 | 368 |
Gorman-Rupp Co. | 14,174 | 363 | |
Pactiv Evergreen Inc. | 31,925 | 363 | |
* | I3 Verticals Inc. Class A | 14,839 | 361 |
Pitney Bowes Inc. | 94,629 | 360 | |
Insteel Industries Inc. | 12,847 | 354 | |
* | Transcat Inc. | 4,995 | 354 |
Kelly Services Inc. Class A | 20,712 | 350 | |
* | Vishay Precision Group Inc. | 9,031 | 349 |
* | CIRCOR International Inc. | 13,776 | 330 |
* | TaskUS Inc. Class A | 19,113 | 323 |
* | V2X Inc. | 7,758 | 320 |
* | Aurora Innovation Inc. | 261,523 | 316 |
* | Forrester Research Inc. | 8,441 | 302 |
VSE Corp. | 6,435 | 302 | |
Eagle Bulk Shipping Inc. | 5,976 | 298 | |
* | Cimpress plc | 10,377 | 287 |
Argan Inc. | 7,717 | 285 | |
Allied Motion Technologies Inc. | 7,902 | 275 | |
National Presto Industries Inc. | 3,924 | 269 | |
* | Custom Truck One Source Inc. | 42,513 | 269 |
* | DXP Enterprises Inc. | 9,402 | 259 |
*,1 | Target Hospitality Corp. | 16,634 | 252 |
* | Great Lakes Dredge & Dock Corp. | 40,776 | 243 |
* | IES Holdings Inc. | 6,774 | 241 |
* | Hudson Technologies Inc. | 23,217 | 235 |
LSI Industries Inc. | 18,908 | 231 | |
*,1 | Desktop Metal Inc. Class A | 167,096 | 227 |
Cadre Holdings Inc. | 11,279 | 227 | |
* | Sterling Check Corp. | 14,516 | 225 |
United States Lime & Minerals Inc. | 1,592 | 224 | |
FTAI Infrastructure Inc. | 74,858 | 221 | |
Covenant Logistics Group Inc. Class A | 6,345 | 219 | |
* | ShotSpotter Inc. | 6,306 | 213 |
* | CECO Environmental Corp. | 18,094 | 211 |
* | Babcock & Wilcox Enterprises Inc. | 34,947 | 202 |
REV Group Inc. | 15,944 | 201 | |
* | Hyliion Holdings Corp. | 84,365 | 197 |
* | Aersale Corp. | 12,091 | 196 |
* | Manitowoc Co. Inc. | 20,774 | 190 |
* | Astronics Corp. | 18,393 | 189 |
Shares | Market Value• ($000) | ||
* | Tutor Perini Corp. | 24,689 | 186 |
* | Performant Financial Corp. | 51,043 | 184 |
* | DHI Group Inc. | 34,401 | 182 |
* | Daseke Inc. | 32,052 | 182 |
* | Hireright Holdings Corp. | 15,290 | 181 |
* | BrightView Holdings Inc. | 25,317 | 174 |
* | Luna Innovations Inc. | 19,734 | 173 |
* | Velo3D Inc. | 94,353 | 169 |
* | Cantaloupe Inc. | 38,378 | 167 |
*,1 | Microvast Holdings Inc. | 108,265 | 166 |
* | Ranpak Holdings Corp. Class A | 28,481 | 164 |
*,1 | TuSimple Holdings Inc. Class A | 100,233 | 164 |
Miller Industries Inc. | 6,057 | 161 | |
Powell Industries Inc. | 4,584 | 161 | |
* | Archer Aviation Inc. Class A | 85,224 | 159 |
Universal Logistics Holdings Inc. | 4,679 | 156 | |
* | Willdan Group Inc. | 8,638 | 154 |
*,1 | Workhorse Group Inc. | 100,038 | 152 |
* | Blade Air Mobility Inc. | 41,940 | 150 |
* | Acacia Research Corp. | 35,109 | 148 |
* | Radiant Logistics Inc. | 28,389 | ��� 145 |
* | Overseas Shipholding Group Inc. Class A | 49,959 | 144 |
* | Commercial Vehicle Group Inc. | 21,010 | 143 |
* | Distribution Solutions Group Inc. | 3,849 | 142 |
* | Blue Bird Corp. | 13,070 | 140 |
*,1 | ShiftPixy Inc. | 6,683 | 140 |
Information Services Group Inc. | 30,277 | 139 | |
Park Aerospace Corp. | 10,255 | 138 | |
Hyster-Yale Materials Handling Inc. | 5,244 | 133 | |
Hurco Cos. Inc. | 5,040 | 132 | |
BGSF Inc. | 8,582 | 131 | |
* | Concrete Pumping Holdings Inc. | 22,106 | 129 |
*,1 | CPI Card Group Inc. | 3,492 | 126 |
Kronos Worldwide Inc. | 12,662 | 119 | |
* | Core Molding Technologies Inc. | 9,054 | 118 |
* | Willis Lease Finance Corp. | 1,962 | 116 |
*,1 | Evolv Technologies Holdings Inc. | 44,649 | 116 |
* | Velodyne Lidar Inc. | 155,804 | 115 |
* | Advantage Solutions Inc. | 53,753 | 112 |
* | Bowman Consulting Group Ltd. Class A | 5,072 | 111 |
* | Atlanticus Holdings Corp. | 4,164 | 109 |
* | Quad/Graphics Inc. | 26,173 | 107 |
*,1 | Danimer Scientific Inc. | 58,942 | 106 |
* | CS Disco Inc. | 16,686 | 105 |
* | BlackSky Technology Inc. | 67,765 | 104 |
* | Iteris Inc. | 33,154 | 103 |
* | Gencor Industries Inc. | 9,715 | 98 |
Shares | Market Value• ($000) | ||
PFSweb Inc. | 15,856 | 98 | |
* | Atlas Technical Consultants Inc. | 18,945 | 98 |
*,1 | View Inc. | 95,251 | 92 |
* | Twin Disc Inc. | 9,394 | 91 |
* | Paysign Inc. | 34,843 | 90 |
* | Yellow Corp. | 35,952 | 90 |
* | Byrna Technologies Inc. | 11,420 | 90 |
ARC Document Solutions Inc. | 30,422 | 89 | |
*,1 | Terran Orbital Corp. | 56,410 | 89 |
*,1 | Virgin Orbit Holdings Inc. | 48,211 | 89 |
*,1 | EVI Industries Inc. | 3,692 | 88 |
* | Graham Corp. | 9,026 | 87 |
Park-Ohio Holdings Corp. | 7,053 | 86 | |
* | PAM Transportation Services Inc. | 3,326 | 86 |
* | Limbach Holdings Inc. | 8,177 | 85 |
* | Paymentus Holdings Inc. Class A | 10,632 | 85 |
*,1 | RCM Technologies Inc. | 6,698 | 83 |
* | Markforged Holding Corp. | 71,461 | 83 |
* | MICT Inc. | 94,891 | 79 |
*,1 | Hyzon Motors Inc. | 51,124 | 79 |
Hirequest Inc. | 4,907 | 78 | |
* | L B Foster Co. Class A | 7,870 | 76 |
* | Mistras Group Inc. | 15,007 | 74 |
* | Spire Global Inc. | 74,685 | 72 |
* | Mayville Engineering Co. Inc. | 5,637 | 71 |
* | DLH Holdings Corp. | 5,768 | 68 |
*,1 | SKYX Platforms Corp. | 27,010 | 68 |
* | Hudson Global Inc. | 2,857 | 65 |
* | Orion Group Holdings Inc. | 27,064 | 64 |
*,1 | BM Technologies Inc. (XASE) | 12,201 | 64 |
* | VirTra Inc. | 13,519 | 63 |
Karat Packaging Inc. | 4,292 | 62 | |
* | Moneylion Inc. | 92,724 | 57 |
*,1 | Smith-Midland Corp. | 2,675 | 55 |
* | FreightCar America Inc. | 16,584 | 53 |
* | Skillsoft Corp. | 40,845 | 53 |
* | Alpha Pro Tech Ltd. | 12,073 | 49 |
*,1 | INNOVATE Corp. | 25,298 | 47 |
* | Latch Inc. | 64,981 | 46 |
*,1 | Wrap Technologies Inc. | 24,753 | 42 |
* | RF Industries Ltd. | 8,155 | 42 |
* | Frequency Electronics Inc. | 5,508 | 39 |
* | Momentus Inc. | 48,123 | 38 |
* | Orion Energy Systems Inc. | 20,324 | 37 |
* | StarTek Inc. | 9,990 | 37 |
*,1 | Eos Energy Enterprises Inc. | 25,092 | 37 |
* | Hydrofarm Holdings Group Inc. | 23,262 | 36 |
* | US Xpress Enterprises Inc. Class A | 17,513 | 32 |
* | Energous Corp. | 36,561 | 31 |
* | LightPath Technologies Inc. Class A | 25,635 | 31 |
Shares | Market Value• ($000) | ||
*,1 | Astra Space Inc. | 70,427 | 31 |
* | AEye Inc. | 63,833 | 31 |
* | Innovative Solutions and Support Inc. | 3,690 | 30 |
* | Sarcos Technology and Robotics Corp. | 52,552 | 29 |
* | Rekor Systems Inc. | 22,282 | 27 |
* | Usio Inc. | 16,474 | 26 |
*,1 | IZEA Worldwide Inc. | 43,567 | 24 |
*,1 | Redwire Corp. | 11,752 | 23 |
* | Mega Matrix Corp. | 12,430 | 22 |
* | Williams Industrial Services Group Inc. | 16,026 | 16 |
*,1 | Dominari Holdings Inc. | 4,463 | 15 |
* | ENGlobal Corp. | 18,051 | 14 |
*,1 | Xos Inc. | 30,722 | 14 |
*,1 | AgEagle Aerial Systems Inc. | 37,077 | 13 |
* | Biotricity Inc. | 26,299 | 12 |
*,1 | ClearSign Technologies Corp. | 20,576 | 11 |
* | Lightning eMotors Inc. | 28,794 | 11 |
* | Berkshire Grey Inc. | 19,018 | 11 |
* | Horizon Global Corp. | 17,601 | 7 |
* | Manitex International Inc. | 419 | 2 |
3,460,621 | |||
Other (0.0%)3 | |||
*,1,2 | Next Bridge Hydrocarbons Inc. | 49,663 | 144 |
* | Mallinckrodt plc | 10,983 | 85 |
*,2 | Esc Lubys Inc. | 14,037 | 25 |
*,2 | Omthera Pharmaceutical Inc. CVR | 31,662 | 8 |
*,2 | Strongbridge Biopharm CVR | 45,385 | 8 |
*,2 | Alexza Pharmaceuticals Inc. CVR | 80,591 | 3 |
*,2 | Aduro Biotech Inc. CVR | 11,427 | 2 |
*,2 | Adamas Pharmaceuticals Inc. CVR 2024 | 30,505 | 2 |
*,2 | Adamas Pharmaceuticals Inc. CVR 2025 | 30,505 | 2 |
*,2 | miRagen Therapeutics Inc. CVR | 67,673 | 1 |
*,2 | Spirit MTA REIT | 58,489 | — |
*,2 | Ambit Biosciences Corp. CVR | 29,736 | — |
2 | Esc Srax Inc. | 7,380 | — |
* | Gemini Therapeutics CVR | 33,435 | — |
280 | |||
Real Estate (3.4%) | |||
Prologis Inc. | 618,918 | 69,771 | |
American Tower Corp. | 311,919 | 66,083 | |
Equinix Inc. | 61,931 | 40,567 | |
Crown Castle Inc. | 290,730 | 39,435 | |
Public Storage | 100,091 | 28,044 | |
Realty Income Corp. | 419,426 | 26,604 | |
Simon Property Group Inc. | 219,254 | 25,758 | |
VICI Properties Inc. | 666,449 | 21,593 |
Shares | Market Value• ($000) | ||
* | CoStar Group Inc. | 273,795 | 21,159 |
Welltower Inc. | 317,572 | 20,817 | |
SBA Communications Corp. Class A | 72,372 | 20,287 | |
Digital Realty Trust Inc. | 193,724 | 19,425 | |
Alexandria Real Estate Equities Inc. | 110,839 | 16,146 | |
* | CBRE Group Inc. Class A | 200,503 | 15,431 |
Weyerhaeuser Co. | 492,966 | 15,282 | |
AvalonBay Communities Inc. | 93,313 | 15,072 | |
Equity Residential | 240,124 | 14,167 | |
Extra Space Storage Inc. | 89,365 | 13,153 | |
Invitation Homes Inc. | 412,699 | 12,232 | |
Mid-America Apartment Communities Inc. | 76,882 | 12,070 | |
1 | Ventas Inc. | 266,841 | 12,021 |
Sun Communities Inc. | 83,408 | 11,927 | |
WP Carey Inc. | 140,036 | 10,944 | |
Iron Mountain Inc. | 196,254 | 9,783 | |
Essex Property Trust Inc. | 43,292 | 9,174 | |
Healthpeak Properties Inc. | 361,428 | 9,061 | |
Kimco Realty Corp. | 423,195 | 8,963 | |
Gaming and Leisure Properties Inc. | 165,153 | 8,603 | |
UDR Inc. | 217,568 | 8,426 | |
Camden Property Trust | 71,187 | 7,964 | |
Host Hotels & Resorts Inc. | 484,736 | 7,780 | |
Equity LifeStyle Properties Inc. | 111,890 | 7,228 | |
Regency Centers Corp. | 114,385 | 7,149 | |
Rexford Industrial Realty Inc. | 122,102 | 6,672 | |
Boston Properties Inc. | 94,470 | 6,384 | |
CubeSmart | 150,241 | 6,047 | |
American Homes 4 Rent Class A | 188,547 | 5,683 | |
Life Storage Inc. | 56,970 | 5,612 | |
STORE Capital Corp. | 172,969 | 5,545 | |
Lamar Advertising Co. Class A | 58,564 | 5,528 | |
Federal Realty Investment Trust | 54,331 | 5,490 | |
National Retail Properties Inc. | 118,384 | 5,417 | |
* | Jones Lang LaSalle Inc. | 32,542 | 5,186 |
Americold Realty Trust Inc. | 180,895 | 5,121 | |
Healthcare Realty Trust Inc. Class A | 259,215 | 4,995 | |
Brixmor Property Group Inc. | 200,652 | 4,549 | |
Medical Properties Trust Inc. | 402,754 | 4,487 | |
Omega Healthcare Investors Inc. | 156,868 | 4,384 | |
EastGroup Properties Inc. | 29,268 | 4,333 | |
First Industrial Realty Trust Inc. | 88,673 | 4,279 | |
Agree Realty Corp. | 58,740 | 4,166 |
Shares | Market Value• ($000) | ||
STAG Industrial Inc. | 119,676 | 3,867 | |
Spirit Realty Capital Inc. | 94,013 | 3,754 | |
Apartment Income REIT Corp. | 100,794 | 3,458 | |
Rayonier Inc. | 97,857 | 3,225 | |
* | Zillow Group Inc. Class C | 98,248 | 3,165 |
Kilroy Realty Corp. | 81,759 | 3,162 | |
Kite Realty Group Trust | 145,349 | 3,060 | |
Ryman Hospitality Properties Inc. | 34,863 | 2,851 | |
Terreno Realty Corp. | 48,282 | 2,746 | |
Phillips Edison & Co. Inc. | 78,936 | 2,513 | |
Cousins Properties Inc. | 99,241 | 2,510 | |
Independence Realty Trust Inc. | 148,204 | 2,499 | |
Vornado Realty Trust | 115,078 | 2,395 | |
PotlatchDeltic Corp. | 53,841 | 2,368 | |
Essential Properties Realty Trust Inc. | 94,908 | 2,227 | |
Apple Hospitality REIT Inc. | 138,893 | 2,192 | |
Physicians Realty Trust | 151,196 | 2,188 | |
National Storage Affiliates Trust | 58,114 | 2,099 | |
Corporate Office Properties Trust | 76,474 | 1,984 | |
Highwoods Properties Inc. | 70,620 | 1,976 | |
Sabra Health Care REIT Inc. | 157,343 | 1,956 | |
Innovative Industrial Properties Inc. | 18,774 | 1,903 | |
EPR Properties | 50,349 | 1,899 | |
LXP Industrial Trust | 184,770 | 1,851 | |
Broadstone Net Lease Inc. | 109,916 | 1,782 | |
Douglas Emmett Inc. | 112,539 | 1,765 | |
* | Howard Hughes Corp. | 22,855 | 1,747 |
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 58,726 | 1,702 | |
Park Hotels & Resorts Inc. | 143,687 | 1,694 | |
SITE Centers Corp. | 123,954 | 1,693 | |
Equity Commonwealth | 67,604 | 1,688 | |
Macerich Co. | 144,364 | 1,626 | |
Outfront Media Inc. | 96,871 | 1,606 | |
National Health Investors Inc. | 28,389 | 1,482 | |
Four Corners Property Trust Inc. | 56,807 | 1,473 | |
1 | SL Green Realty Corp. | 43,267 | 1,459 |
JBG SMITH Properties | 73,721 | 1,399 | |
Sunstone Hotel Investors Inc. | 143,054 | 1,382 | |
* | Cushman & Wakefield plc | 103,612 | 1,291 |
CareTrust REIT Inc. | 66,620 | 1,238 | |
Kennedy-Wilson Holdings Inc. | 78,072 | 1,228 | |
Tanger Factory Outlet Centers Inc. | 66,603 | 1,195 | |
1 | Pebblebrook Hotel Trust | 86,241 | 1,155 |
Shares | Market Value• ($000) | ||
Retail Opportunity Investments Corp. | 76,879 | 1,155 | |
RLJ Lodging Trust | 107,952 | 1,143 | |
DigitalBridge Group Inc. | 104,227 | 1,140 | |
DiamondRock Hospitality Co. | 139,017 | 1,139 | |
Urban Edge Properties | 75,493 | 1,064 | |
* | Zillow Group Inc. Class A | 33,034 | 1,031 |
Elme Communities | 57,599 | 1,025 | |
InvenTrust Properties Corp. | 42,190 | 999 | |
LTC Properties Inc. | 28,025 | 996 | |
Xenia Hotels & Resorts Inc. | 75,029 | 989 | |
Brandywine Realty Trust | 158,547 | 975 | |
Alexander & Baldwin Inc. | 50,746 | 950 | |
Acadia Realty Trust | 64,636 | 927 | |
Hudson Pacific Properties Inc. | 93,473 | 909 | |
Getty Realty Corp. | 26,781 | 907 | |
Global Net Lease Inc. | 70,887 | 891 | |
* | Veris Residential Inc. | 55,856 | 890 |
Easterly Government Properties Inc. Class A | 62,325 | 889 | |
St. Joe Co. | 22,269 | 861 | |
Uniti Group Inc. | 154,821 | 856 | |
Service Properties Trust | 115,936 | 845 | |
American Assets Trust Inc. | 31,414 | 832 | |
* | GEO Group Inc. | 74,543 | 816 |
Piedmont Office Realty Trust Inc. Class A | 87,467 | 802 | |
Paramount Group Inc. | 126,393 | 751 | |
Apartment Investment and Management Co. Class A | 100,573 | 716 | |
Empire State Realty Trust Inc. Class A | 104,875 | 707 | |
Newmark Group Inc. Class A | 85,131 | 678 | |
Centerspace | 10,834 | 636 | |
NexPoint Residential Trust Inc. | 14,507 | 631 | |
NETSTREIT Corp. | 33,933 | 622 | |
Marcus & Millichap Inc. | 17,332 | 597 | |
* | Radius Global Infrastructure Inc. Class A (XNMS) | 49,974 | 591 |
1 | eXp World Holdings Inc. | 53,058 | 588 |
Plymouth Industrial REIT Inc. | 30,148 | 578 | |
Necessity Retail REIT Inc. | 93,275 | 553 | |
Community Healthcare Trust Inc. | 15,063 | 539 | |
RPT Realty | 53,075 | 533 | |
UMH Properties Inc. | 31,696 | 510 | |
Summit Hotel Properties Inc. | 68,662 | 496 |
Shares | Market Value• ($000) | ||
Armada Hoffler Properties Inc. | 42,862 | 493 | |
Safehold Inc. | 16,108 | 461 | |
Gladstone Land Corp. | 24,565 | 451 | |
Gladstone Commercial Corp. | 24,306 | 450 | |
Universal Health Realty Income Trust | 9,147 | 437 | |
* | Compass Inc. Class A | 180,070 | 420 |
Office Properties Income Trust | 30,586 | 408 | |
Chatham Lodging Trust | 33,089 | 406 | |
Farmland Partners Inc. | 32,368 | 403 | |
Global Medical REIT Inc. | 42,151 | 400 | |
* | Anywhere Real Estate Inc. | 61,610 | 394 |
*,1 | Opendoor Technologies Inc. | 314,564 | 365 |
Urstadt Biddle Properties Inc. Class A | 19,081 | 362 | |
Saul Centers Inc. | 8,496 | 346 | |
1 | Ares Commercial Real Estate Corp. | 31,908 | 328 |
Orion Office REIT Inc. | 37,533 | 321 | |
Whitestone REIT | 32,634 | 315 | |
RMR Group Inc. Class A | 10,594 | 299 | |
* | Tejon Ranch Co. | 15,750 | 297 |
Alexander's Inc. | 1,287 | 283 | |
*,1 | Redfin Corp. | 66,870 | 283 |
* | Seritage Growth Properties Class A | 23,441 | 277 |
* | WeWork Inc. Class A | 194,046 | 277 |
1 | CTO Realty Growth Inc. | 14,647 | 268 |
RE/MAX Holdings Inc. Class A | 14,143 | 264 | |
Bridge Investment Group Holdings Inc. Class A | 18,625 | 224 | |
* | Forestar Group Inc. | 14,252 | 220 |
Hersha Hospitality Trust Class A | 23,243 | 198 | |
One Liberty Properties Inc. | 8,824 | 196 | |
Postal Realty Trust Inc. Class A | 13,499 | 196 | |
* | FRP Holdings Inc. | 3,443 | 185 |
City Office REIT Inc. | 21,923 | 184 | |
Braemar Hotels & Resorts Inc. | 44,461 | 183 | |
Douglas Elliman Inc. | 43,451 | 177 | |
Franklin Street Properties Corp. | 62,401 | 170 | |
Indus Realty Trust Inc. | 2,454 | 156 | |
BRT Apartments Corp. | 7,749 | 152 | |
Industrial Logistics Properties Trust | 43,462 | 142 | |
Alpine Income Property Trust Inc. | 6,005 | 115 | |
Diversified Healthcare Trust | 174,895 | 113 | |
Stratus Properties Inc. | 5,338 | 103 | |
Clipper Realty Inc. | 14,188 | 91 | |
* | Ashford Hospitality Trust Inc. | 20,163 | 90 |
Shares | Market Value• ($000) | ||
* | Maui Land & Pineapple Co. Inc. | 7,827 | 74 |
1 | Modiv Inc. Class C REIT | 6,088 | 73 |
* | Altisource Portfolio Solutions SA | 7,037 | 67 |
1 | CIM Commercial Trust Corp. | 13,505 | 66 |
* | Bluerock Homes Trust Inc. | 2,283 | 49 |
Global Self Storage Inc. | 8,627 | 42 | |
* | Sotherly Hotels Inc. | 18,957 | 34 |
* | Rafael Holdings Inc. Class B | 13,424 | 25 |
* | Fathom Holdings Inc. | 5,453 | 23 |
*,1 | Offerpad Solutions Inc. | 29,885 | 14 |
1 | New York City REIT Inc. Class A | 7,408 | 13 |
* | Power REIT | 2,325 | 9 |
861,599 | |||
Technology (23.3%) | |||
Apple Inc. | 10,138,958 | 1,317,355 | |
Microsoft Corp. | 5,001,429 | 1,199,443 | |
* | Alphabet Inc. Class A | 4,014,304 | 354,182 |
* | Alphabet Inc. Class C | 3,467,648 | 307,684 |
NVIDIA Corp. | 1,567,309 | 229,047 | |
* | Meta Platforms Inc. Class A | 1,507,973 | 181,469 |
Broadcom Inc. | 271,855 | 152,002 | |
* | Adobe Inc. | 311,920 | 104,970 |
Texas Instruments Inc. | 607,347 | 100,346 | |
International Business Machines Corp. | 606,556 | 85,458 | |
* | Salesforce Inc. | 636,481 | 84,391 |
QUALCOMM Inc. | 751,251 | 82,593 | |
Oracle Corp. | 994,054 | 81,254 | |
Intel Corp. | 2,774,219 | 73,323 | |
* | Advanced Micro Devices Inc. | 1,079,723 | 69,934 |
Intuit Inc. | 178,939 | 69,647 | |
Applied Materials Inc. | 575,908 | 56,082 | |
Analog Devices Inc. | 341,262 | 55,977 | |
* | ServiceNow Inc. | 135,400 | 52,572 |
Lam Research Corp. | 91,362 | 38,399 | |
1 | Micron Technology Inc. | 729,678 | 36,469 |
KLA Corp. | 94,871 | 35,769 | |
* | Synopsys Inc. | 102,589 | 32,756 |
Roper Technologies Inc. | 71,011 | 30,683 | |
Amphenol Corp. Class A | 398,447 | 30,338 | |
* | Cadence Design Systems Inc. | 183,933 | 29,547 |
* | Palo Alto Networks Inc. | 202,779 | 28,296 |
* | Autodesk Inc. | 145,124 | 27,119 |
* | Snowflake Inc. Class A | 183,086 | 26,280 |
Microchip Technology Inc. | 369,388 | 25,950 | |
TE Connectivity Ltd. | 212,812 | 24,431 | |
* | Workday Inc. Class A | �� 135,906 | 22,741 |
* | Fortinet Inc. | 448,057 | 21,906 |
Marvell Technology Inc. | 578,085 | 21,412 | |
Cognizant Technology Solutions Corp. Class A | 345,350 | 19,751 |
Shares | Market Value• ($000) | ||
* | VMware Inc. Class A | 156,340 | 19,192 |
* | ON Semiconductor Corp. | 292,337 | 18,233 |
* | Gartner Inc. | 50,161 | 16,861 |
Corning Inc. | 511,142 | 16,326 | |
HP Inc. | 604,145 | 16,233 | |
CDW Corp. | 90,889 | 16,231 | |
* | Crowdstrike Holdings Inc. Class A | 145,346 | 15,303 |
* | ANSYS Inc. | 59,451 | 14,363 |
Hewlett Packard Enterprise Co. | 859,148 | 13,712 | |
* | Datadog Inc. Class A | 175,492 | 12,899 |
* | Atlassian Corp. Ltd. Class A | 98,950 | 12,733 |
* | VeriSign Inc. | 60,580 | 12,446 |
* | EPAM Systems Inc. | 36,816 | 12,066 |
* | Paycom Software Inc. | 34,033 | 10,561 |
Monolithic Power Systems Inc. | 29,697 | 10,501 | |
Skyworks Solutions Inc. | 108,143 | 9,855 | |
Leidos Holdings Inc. | 91,474 | 9,622 | |
* | Pinterest Inc. Class A | 391,769 | 9,512 |
* | Zoom Video Communications Inc. Class A | 139,338 | 9,439 |
* | DoorDash Inc. Class A | 192,279 | 9,387 |
* | Splunk Inc. | 108,991 | 9,383 |
Teradyne Inc. | 105,582 | 9,223 | |
* | Tyler Technologies Inc. | 27,911 | 8,999 |
* | Akamai Technologies Inc. | 106,168 | 8,950 |
* | HubSpot Inc. | 30,815 | 8,910 |
NetApp Inc. | 147,359 | 8,850 | |
* | PTC Inc. | 71,755 | 8,613 |
* | MongoDB Inc. Class A | 43,583 | 8,579 |
* | Cloudflare Inc. Class A | 180,544 | 8,162 |
Gen Digital Inc. | 374,537 | 8,026 | |
* | Match Group Inc. | 190,719 | 7,913 |
* | GoDaddy Inc. Class A | 103,471 | 7,742 |
SS&C Technologies Holdings Inc. | 142,663 | 7,427 | |
* | DocuSign Inc. Class A | 133,858 | 7,418 |
* | Palantir Technologies Inc. Class A | 1,121,963 | 7,203 |
* | ZoomInfo Technologies Inc. Class A | 229,351 | 6,906 |
Seagate Technology Holdings plc | 131,046 | 6,894 | |
* | Western Digital Corp. | 212,316 | 6,699 |
Entegris Inc. | 102,014 | 6,691 | |
Dell Technologies Inc. Class C | 164,216 | 6,605 | |
* | Okta Inc. | 96,513 | 6,595 |
* | Zscaler Inc. | 58,075 | 6,499 |
* | Ceridian HCM Holding Inc. | 97,326 | 6,243 |
* | Black Knight Inc. | 99,630 | 6,152 |
* | Qorvo Inc. | 67,488 | 6,117 |
* | Snap Inc. Class A | 680,711 | 6,092 |
Jabil Inc. | 87,594 | 5,974 | |
* | F5 Inc. | 41,598 | 5,970 |
* | Lattice Semiconductor Corp. | 91,883 | 5,961 |
*,1 | Unity Software Inc. | 206,873 | 5,914 |
* | Wolfspeed Inc. | 83,395 | 5,758 |
* | Twilio Inc. Class A | 116,984 | 5,728 |
Shares | Market Value• ($000) | ||
Bentley Systems Inc. Class B | 148,656 | 5,494 | |
* | Dynatrace Inc. | 135,061 | 5,173 |
* | Manhattan Associates Inc. | 41,967 | 5,095 |
* | Pure Storage Inc. Class A | 190,052 | 5,086 |
KBR Inc. | 92,425 | 4,880 | |
* | CACI International Inc. Class A | 15,566 | 4,679 |
* | Arrow Electronics Inc. | 41,770 | 4,368 |
Science Applications International Corp. | 37,122 | 4,118 | |
* | DXC Technology Co. | 154,137 | 4,085 |
* | Coupa Software Inc. | 50,901 | 4,030 |
* | Aspen Technology Inc. | 19,564 | 4,018 |
* | Nutanix Inc. Class A | 153,971 | 4,011 |
* | Dropbox Inc. Class A | 178,082 | 3,985 |
* | Toast Inc. Class A | 201,314 | 3,630 |
Concentrix Corp. | 26,208 | 3,490 | |
* | Guidewire Software Inc. | 54,139 | 3,387 |
National Instruments Corp. | 88,296 | 3,258 | |
* | Smartsheet Inc. Class A | 82,678 | 3,254 |
* | Five9 Inc. | 46,684 | 3,168 |
* | Fabrinet | 24,400 | 3,129 |
* | SPS Commerce Inc. | 24,129 | 3,099 |
Universal Display Corp. | 28,680 | 3,099 | |
* | Novanta Inc. | 22,596 | 3,070 |
* | Azenta Inc. | 50,094 | 2,916 |
* | Silicon Laboratories Inc. | 21,240 | 2,882 |
TD SYNNEX Corp. | 30,336 | 2,873 | |
* | Tenable Holdings Inc. | 73,973 | 2,822 |
Dolby Laboratories Inc. Class A | 39,672 | 2,798 | |
* | Box Inc. Class A | 89,774 | 2,795 |
* | Cirrus Logic Inc. | 37,310 | 2,779 |
* | Coherent Corp. | 78,818 | 2,767 |
Vertiv Holdings Co. Class A | 200,743 | 2,742 | |
Power Integrations Inc. | 37,807 | 2,712 | |
* | Elastic NV | 50,717 | 2,612 |
* | Workiva Inc. Class A | 31,085 | 2,610 |
* | UiPath Inc. Class A | 201,738 | 2,564 |
* | Rambus Inc. | 70,437 | 2,523 |
* | Qualys Inc. | 22,402 | 2,514 |
* | Synaptics Inc. | 26,240 | 2,497 |
Avnet Inc. | 60,014 | 2,495 | |
* | Blackline Inc. | 36,261 | 2,439 |
* | Super Micro Computer Inc. | 29,536 | 2,425 |
* | Ziff Davis Inc. | 29,718 | 2,351 |
* | IAC Inc. | 52,471 | 2,330 |
* | Insight Enterprises Inc. | 23,203 | 2,327 |
* | Teradata Corp. | 69,080 | 2,325 |
* | Envestnet Inc. | 36,775 | 2,269 |
*,1 | Gitlab Inc. Class A | 49,399 | 2,245 |
* | MACOM Technology Solutions Holdings Inc. Class H | 35,550 | 2,239 |
* | Onto Innovation Inc. | 32,745 | 2,230 |
Shares | Market Value• ($000) | ||
* | Procore Technologies Inc. | 46,342 | 2,186 |
* | Diodes Inc. | 28,425 | 2,164 |
Dun & Bradstreet Holdings Inc. | 175,395 | 2,150 | |
Advanced Energy Industries Inc. | 24,624 | 2,112 | |
* | Sanmina Corp. | 36,684 | 2,102 |
* | New Relic Inc. | 36,730 | 2,073 |
* | NCR Corp. | 87,307 | 2,044 |
* | Blackbaud Inc. | 34,647 | 2,039 |
* | RingCentral Inc. Class A | 57,508 | 2,036 |
* | Ambarella Inc. | 24,503 | 2,015 |
* | Alteryx Inc. Class A | 39,374 | 1,995 |
* | SentinelOne Inc. Class A | 132,019 | 1,926 |
Vishay Intertechnology Inc. | 88,295 | 1,905 | |
* | Plexus Corp. | 18,256 | 1,879 |
* | CommVault Systems Inc. | 29,400 | 1,847 |
* | IPG Photonics Corp. | 19,471 | 1,843 |
* | Confluent Inc. Class A | 82,469 | 1,834 |
* | Sprout Social Inc. Class A | 31,590 | 1,784 |
Amkor Technology Inc. | 73,367 | 1,759 | |
* | Axcelis Technologies Inc. | 21,025 | 1,669 |
* | Varonis Systems Inc. Class B | 69,162 | 1,656 |
* | MaxLinear Inc. | 48,538 | 1,648 |
* | Altair Engineering Inc. Class A | 35,505 | 1,614 |
* | Perficient Inc. | 23,063 | 1,610 |
* | Impinj Inc. | 14,738 | 1,609 |
* | Alarm.com Holdings Inc. | 31,916 | 1,579 |
* | Verint Systems Inc. | 42,201 | 1,531 |
* | Kyndryl Holdings Inc. | 137,503 | 1,529 |
* | Freshworks Inc. Class A | 102,797 | 1,512 |
* | Rogers Corp. | 12,594 | 1,503 |
* | NetScout Systems Inc. | 45,742 | 1,487 |
Clear Secure Inc. Class A | 54,186 | 1,486 | |
* | PagerDuty Inc. | 55,199 | 1,466 |
Progress Software Corp. | 28,503 | 1,438 | |
* | KnowBe4 Inc. Class A | 55,860 | 1,384 |
* | Allegro MicroSystems Inc. | 43,490 | 1,306 |
* | nCino Inc. | 48,563 | 1,284 |
* | Rapid7 Inc. | 36,817 | 1,251 |
* | Appfolio Inc. Class A | 11,806 | 1,244 |
* | Semtech Corp. | 43,375 | 1,244 |
* | Yelp Inc. Class A | 45,228 | 1,237 |
* | AppLovin Corp. Class A | 116,262 | 1,224 |
* | DoubleVerify Holdings Inc. | 54,982 | 1,207 |
* | Allscripts Healthcare Solutions Inc. | 68,077 | 1,201 |
* | Bumble Inc. Class A | 55,706 | 1,173 |
* | Agilysys Inc. | 14,597 | 1,155 |
* | FormFactor Inc. | 51,949 | 1,155 |
Shares | Market Value• ($000) | ||
CSG Systems International Inc. | 20,117 | 1,151 | |
* | HashiCorp Inc. Class A | 42,114 | 1,151 |
* | Parsons Corp. | 23,883 | 1,105 |
*,1 | DigitalOcean Holdings Inc. | 42,208 | 1,075 |
Xerox Holdings Corp. | 70,641 | 1,031 | |
* | Sitime Corp. | 10,111 | 1,027 |
* | Q2 Holdings Inc. | 37,927 | 1,019 |
Methode Electronics Inc. | 22,898 | 1,016 | |
* | Paycor HCM Inc. | 41,050 | 1,004 |
* | LiveRamp Holdings Inc. | 42,777 | 1,003 |
* | Ultra Clean Holdings Inc. | 30,059 | 996 |
* | Cohu Inc. | 30,757 | 986 |
* | Digital Turbine Inc. | 63,745 | 971 |
* | JFrog Ltd. | 44,621 | 952 |
* | Model N Inc. | 23,355 | 947 |
* | Jamf Holding Corp. | 43,709 | 931 |
Pegasystems Inc. | 26,814 | 918 | |
* | Cargurus Inc. | 64,165 | 899 |
* | TTM Technologies Inc. | 58,982 | 889 |
*,1 | MicroStrategy Inc. Class A | 6,232 | 882 |
* | CCC Intelligent Solutions Holdings Inc. | 101,279 | 881 |
* | Xometry Inc. Class A | 27,157 | 875 |
* | Magnite Inc. | 81,762 | 866 |
* | Appian Corp. Class A | 26,466 | 862 |
* | E2open Parent Holdings Inc. | 145,740 | 855 |
Shutterstock Inc. | 15,968 | 842 | |
CTS Corp. | 21,171 | 835 | |
* | Upwork Inc. | 77,008 | 804 |
* | Samsara Inc. Class A | 63,656 | 791 |
* | Qualtrics International Inc. Class A | 75,671 | 785 |
* | ePlus Inc. | 17,460 | 773 |
* | TechTarget Inc. | 17,409 | 767 |
* | Everbridge Inc. | 25,682 | 760 |
A10 Networks Inc. | 45,556 | 758 | |
*,1 | Credo Technology Group Holding Ltd. | 56,425 | 751 |
* | C3.ai Inc. Class A | 65,129 | 729 |
* | Zeta Global Holdings Corp. Class A | 89,273 | 729 |
* | Squarespace Inc. Class A | 30,073 | 667 |
* | Thoughtworks Holding Inc. | 65,268 | 665 |
* | ForgeRock Inc. Class A | 28,832 | 656 |
* | Asana Inc. Class A | 47,421 | 653 |
* | Photronics Inc. | 38,305 | 645 |
* | Veeco Instruments Inc. | 34,501 | 641 |
* | Braze Inc. Class A | 23,466 | 640 |
* | PROS Holdings Inc. | 26,324 | 639 |
* | Schrodinger Inc. | 34,090 | 637 |
Adeia Inc. | 66,422 | 630 | |
* | Fastly Inc. Class A | 75,779 | 621 |
Benchmark Electronics Inc. | 23,157 | 618 | |
* | 3D Systems Corp. | 82,041 | 607 |
Shares | Market Value• ($000) | ||
* | Consensus Cloud Solutions Inc. | 11,299 | 607 |
* | Duck Creek Technologies Inc. | 50,225 | 605 |
* | PDF Solutions Inc. | 20,937 | 597 |
* | Momentive Global Inc. | 84,036 | 588 |
* | Avid Technology Inc. | 20,859 | 555 |
* | Planet Labs PBC | 127,335 | 554 |
* | Sprinklr Inc. Class A | 66,058 | 540 |
* | Ichor Holdings Ltd. | 19,830 | 532 |
* | ScanSource Inc. | 18,137 | 530 |
* | Sumo Logic Inc. | 60,513 | 490 |
* | Zuora Inc. Class A | 75,795 | 482 |
* | Cerence Inc. | 25,730 | 477 |
*,1 | PAR Technology Corp. | 17,488 | 456 |
* | SMART Global Holdings Inc. | 30,423 | 453 |
* | UserTesting Inc. | 60,380 | 453 |
* | LivePerson Inc. | 44,180 | 448 |
* | N-Able Inc. | 42,736 | 439 |
* | Matterport Inc. | 154,978 | 434 |
Simulations Plus Inc. | 11,396 | 417 | |
* | Alpha & Omega Semiconductor Ltd. | 14,574 | 416 |
PC Connection Inc. | 8,687 | 407 | |
* | Yext Inc. | 60,424 | 395 |
* | Kimball Electronics Inc. | 17,220 | 389 |
*,1 | Informatica Inc. Class A | 23,804 | 388 |
* | Grid Dynamics Holdings Inc. | 33,392 | 375 |
* | Olo Inc. Class A | 59,939 | 375 |
* | PubMatic Inc. Class A | 28,783 | 369 |
* | Vertex Inc. Class A | 25,175 | 365 |
* | CEVA Inc. | 14,137 | 362 |
*,1 | Aehr Test Systems | 17,471 | 351 |
Ebix Inc. | 17,532 | 350 | |
* | AvePoint Inc. | 84,821 | 349 |
Hackett Group Inc. | 16,910 | 344 | |
* | Bandwidth Inc. Class A | 14,853 | 341 |
* | Alkami Technology Inc. | 23,211 | 339 |
* | BigCommerce Holdings Inc. Series 1 | 38,476 | 336 |
* | IonQ Inc. | 95,852 | 331 |
American Software Inc. Class A | 21,893 | 321 | |
* | Vimeo Inc. | 90,615 | 311 |
* | Eventbrite Inc. Class A | 51,607 | 302 |
* | EngageSmart Inc. | 17,183 | 302 |
* | nLight Inc. | 28,567 | 290 |
* | Amplitude Inc. Class A | 23,792 | 287 |
* | Mitek Systems Inc. | 29,293 | 284 |
* | Domo Inc. Class B | 19,163 | 273 |
*,1 | Cvent Holding Corp. | 50,175 | 271 |
*,1 | indie Semiconductor Inc. | 46,377 | 270 |
* | OneSpan Inc. | 24,049 | 269 |
*,1 | MicroVision Inc. | 114,050 | 268 |
* | SolarWinds Corp. | 28,380 | 266 |
* | Intapp Inc. | 10,477 | 261 |
* | Expensify Inc. Class A | 28,100 | 248 |
* | Definitive Healthcare Corp. Class A | 22,087 | 243 |
* | Benefitfocus Inc. | 22,947 | 240 |
* | Xperi Inc. | 26,568 | 229 |
Shares | Market Value• ($000) | ||
* | Unisys Corp. | 44,617 | 228 |
*,1 | SmartRent Inc. | 93,341 | 227 |
*,1 | Tucows Inc. Class A | 6,570 | 223 |
*,1 | Blend Labs Inc. Class A | 152,098 | 219 |
* | Couchbase Inc. | 16,504 | 219 |
NVE Corp. | 3,259 | 211 | |
* | ACM Research Inc. Class A | 26,853 | 207 |
*,1 | Digimarc Corp. | 11,148 | 206 |
* | ON24 Inc. | 23,181 | 200 |
*,1 | NerdWallet Inc. Class A | 19,891 | 191 |
* | Red Violet Inc. | 8,230 | 189 |
* | Navitas Semiconductor Corp. | 53,760 | 189 |
*,1 | SoundHound AI Inc. Class A | 106,346 | 188 |
* | Telos Corp. | 33,040 | 168 |
* | Enfusion Inc. Class A | 16,724 | 162 |
* | EverQuote Inc. Class A | 10,735 | 158 |
* | TrueCar Inc. | 62,905 | 158 |
*,1 | Nextdoor Holdings Inc. | 75,268 | 155 |
* | Mediaalpha Inc. Class A | 15,378 | 153 |
* | EverCommerce Inc. | 19,639 | 146 |
* | Rackspace Technology Inc. | 48,958 | 144 |
*,1 | SEMrush Holdings Inc. Class A | 16,908 | 138 |
* | Upland Software Inc. | 19,213 | 137 |
* | Rimini Street Inc. | 35,452 | 135 |
*,1 | Transphorm Inc. | 24,701 | 134 |
* | Brightcove Inc. | 25,456 | 133 |
Richardson Electronics Ltd. | 6,173 | 132 | |
* | Immersion Corp. | 18,110 | 127 |
* | AXT Inc. | 28,066 | 123 |
* | MeridianLink Inc. | 8,932 | 123 |
* | Intevac Inc. | 18,754 | 121 |
*,1 | SkyWater Technology Inc. | 16,892 | 120 |
* | Asure Software Inc. | 12,707 | 119 |
*,1 | Rumble Inc. | 20,071 | 119 |
* | eGain Corp. | 12,737 | 115 |
*,1 | Applied Digital Corp. | 60,976 | 112 |
* | CoreCard Corp. | 3,812 | 110 |
*,1 | Weave Communications Inc. | 23,557 | 108 |
* | Quantum Corp. | 98,136 | 107 |
* | Porch Group Inc. | 55,645 | 105 |
* | Aeva Technologies Inc. | 76,978 | 105 |
* | Identiv Inc. | 13,996 | 101 |
* | Computer Task Group Inc. | 13,414 | 101 |
*,1 | Innovid Corp. | 58,925 | 101 |
* | Edgio Inc. | 88,134 | 100 |
*,1 | Backblaze Inc. | 16,181 | 100 |
*,1 | Veritone Inc. | 18,337 | 97 |
*,1 | Groupon Inc. Class A | 10,751 | 92 |
*,1 | Atomera Inc. | 14,264 | 89 |
* | Astronova Inc. | 6,757 | 87 |
* | Arena Group Holdings Inc. | 8,236 | 87 |
* | Daktronics Inc. | 29,724 | 84 |
Shares | Market Value• ($000) | ||
*,1 | NextNav Inc. | 27,071 | 79 |
*,1 | System1 Inc. | 16,725 | 78 |
*,1 | Vroom Inc. | 74,354 | 76 |
* | Issuer Direct Corp. | 2,964 | 74 |
* | Ouster Inc. | 81,985 | 71 |
* | Diebold Nixdorf Inc. | 49,241 | 70 |
* | Kopin Corp. | 54,575 | 68 |
* | inTEST Corp. | 6,184 | 64 |
*,1 | VirnetX Holding Corp. | 48,198 | 63 |
*,1 | KULR Technology Group Inc. | 52,190 | 63 |
*,1 | Vinco Ventures Inc. | 133,125 | 62 |
*,1 | QuickLogic Corp. | 11,891 | 61 |
1 | Park City Group Inc. | 12,115 | 60 |
* | Research Frontiers Inc. | 30,521 | 59 |
* | Pixelworks Inc. | 32,680 | 58 |
*,1 | Alpine 4 Holdings Inc. | 101,723 | 54 |
* | Smith Micro Software Inc. | 24,487 | 51 |
*,1 | Cleanspark Inc. | 24,325 | 50 |
*,1 | Cyxtera Technologies Inc. | 26,115 | 50 |
* | comScore Inc. | 41,944 | 49 |
*,1 | Innodata Inc. | 16,482 | 49 |
* | Everspin Technologies Inc. | 8,435 | 47 |
* | SecureWorks Corp. Class A | 7,362 | 47 |
* | Skillz Inc. Class A | 93,761 | 47 |
* | Amtech Systems Inc. | 5,730 | 44 |
* | TransAct Technologies Inc. | 7,051 | 44 |
*,1 | eMagin Corp. | 50,679 | 43 |
* | WM Technology Inc. | 41,877 | 42 |
*,1 | BuzzFeed Inc. | 58,794 | 41 |
* | CVD Equipment Corp. | 7,295 | 40 |
* | Mastech Digital Inc. | 3,641 | 40 |
* | Embark Technology Inc. | 11,962 | 39 |
* | Key Tronic Corp. | 8,842 | 38 |
*,1 | 1stdibs.com Inc. | 7,570 | 38 |
* | One Stop Systems Inc. | 11,905 | 36 |
*,1 | Glimpse Group Inc. | 11,947 | 36 |
* | Viant Technology Inc. Class A | 8,483 | 34 |
* | Data I/O Corp. | 8,084 | 32 |
*,1 | Phunware Inc. | 40,040 | 31 |
* | EMCORE Corp. | 30,051 | 29 |
* | Intellicheck Inc. | 14,706 | 29 |
* | Synchronoss Technologies Inc. | 43,985 | 27 |
* | GSI Technology Inc. | 15,882 | 27 |
*,1 | Terawulf Inc. | 40,484 | 27 |
* | NetSol Technologies Inc. | 9,164 | 26 |
*,1 | Quantum Computing Inc. | 16,529 | 25 |
*,1 | Beachbody Co. Inc. | 44,053 | 23 |
*,1 | Intrusion Inc. | 6,811 | 22 |
*,1 | KORE Group Holdings Inc. | 15,866 | 20 |
* | AudioEye Inc. | 5,086 | 19 |
* | Inuvo Inc. | 84,564 | 19 |
* | SeaChange International Inc. | 39,652 | 19 |
*,1 | Arteris Inc. | 4,387 | 19 |
*,1 | Marin Software Inc. | 17,513 | 18 |
Shares | Market Value• ($000) | ||
* | Zedge Inc. Class B | 10,242 | 18 |
* | WidePoint Corp. | 10,057 | 18 |
*,1 | Boxlight Corp. Class A | 44,270 | 14 |
* | Super League Gaming Inc. | 37,313 | 13 |
*,1 | NextPlay Technologies Inc. | 106,304 | 12 |
* | Avaya Holdings Corp. | 55,075 | 11 |
* | Streamline Health Solutions Inc. | 7,248 | 11 |
*,1 | Verb Technology Co. Inc. | 62,112 | 10 |
* | Kubient Inc. | 12,180 | 8 |
*,1 | IronNet Inc. | 34,984 | 8 |
* | Nuvve Holding Corp. | 10,269 | 7 |
*,1 | Remark Holdings Inc. | 6,494 | 7 |
* | Ipsidy Inc. | 10,356 | 6 |
* | Soluna Holdings Inc. | 9,681 | 3 |
* | Greenidge Generation Holdings Inc. | 7,091 | 2 |
5,918,066 | |||
Telecommunications (2.4%) | |||
Cisco Systems Inc. | 2,478,040 | 118,054 | |
Verizon Communications Inc. | 2,676,253 | 105,444 | |
Comcast Corp. Class A | 2,894,665 | 101,226 | |
AT&T Inc. | 4,780,126 | 88,002 | |
* | T-Mobile US Inc. | 416,678 | 58,335 |
Motorola Solutions Inc. | 112,579 | 29,013 | |
* | Charter Communications Inc. Class A | 68,059 | 23,079 |
* | Arista Networks Inc. | 155,413 | 18,859 |
Juniper Networks Inc. | 215,935 | 6,901 | |
* | Liberty Broadband Corp. Class C | 82,708 | 6,308 |
* | Ciena Corp. | 98,243 | 5,008 |
* | Frontier Communications Parent Inc. | 164,118 | 4,182 |
* | Iridium Communications Inc. | 76,213 | 3,917 |
1 | Lumen Technologies Inc. | 683,760 | 3,569 |
* | Roku Inc. | 81,810 | 3,330 |
Cable One Inc. | 3,922 | 2,792 | |
* | Calix Inc. | 37,250 | 2,549 |
* | DISH Network Corp. Class A | 168,000 | 2,359 |
* | Lumentum Holdings Inc. | 43,065 | 2,247 |
Cogent Communications Holdings Inc. | 28,225 | 1,611 | |
* | Viavi Solutions Inc. | 151,996 | 1,597 |
* | Extreme Networks Inc. | 86,151 | 1,577 |
* | ViaSat Inc. | 47,883 | 1,515 |
* | CommScope Holding Co. Inc. | 136,290 | 1,002 |
* | Harmonic Inc. | 73,856 | 967 |
InterDigital Inc. | 18,888 | 935 | |
* | Infinera Corp. | 124,753 | 841 |
Adtran Holdings Inc. | 44,499 | 836 |
Shares | Market Value• ($000) | ||
* | Clearfield Inc. | 8,514 | 801 |
* | Digi International Inc. | 21,444 | 784 |
Telephone and Data Systems Inc. | 70,031 | 735 | |
* | Altice USA Inc. Class A | 143,163 | 659 |
* | Gogo Inc. | 43,651 | 644 |
* | Liberty Broadband Corp. Class A | 8,409 | 638 |
* | Globalstar Inc. | 478,232 | 636 |
Shenandoah Telecommunications Co. | 30,986 | 492 | |
* | EchoStar Corp. Class A | 24,087 | 402 |
* | IDT Corp. Class B | 13,887 | 391 |
ATN International Inc. | 8,389 | 380 | |
*,1 | Lightwave Logic Inc. | 81,349 | 351 |
* | NETGEAR Inc. | 18,985 | 344 |
* | WideOpenWest Inc. | 37,199 | 339 |
* | 8x8 Inc. | 78,246 | 338 |
* | Aviat Networks Inc. | 8,225 | 257 |
* | Anterix Inc. | 7,780 | 250 |
Comtech Telecommunications Corp. | 19,010 | 231 | |
* | fuboTV Inc. | 123,105 | 214 |
* | US Cellular Corp. | 9,905 | 207 |
* | Consolidated Communications Holdings Inc. | 55,540 | 199 |
Bel Fuse Inc. Class B | 5,951 | 196 | |
* | Ooma Inc. | 14,333 | 195 |
* | Cambium Networks Corp. | 7,849 | 170 |
* | DZS Inc. | 12,668 | 161 |
* | KVH Industries Inc. | 13,892 | 142 |
*,1 | AST SpaceMobile Inc. | 29,131 | 140 |
* | Ribbon Communications Inc. | 46,419 | 129 |
* | Genasys Inc. | 27,518 | 102 |
Spok Holdings Inc. | 12,210 | 100 | |
*,1 | Kaltura Inc. | 57,548 | 99 |
* | CalAmp Corp. | 20,762 | 93 |
* | Akoustis Technologies Inc. | 30,759 | 87 |
*,1 | Charge Enterprises Inc. | 66,536 | 82 |
* | Lantronix Inc. | 18,653 | 81 |
* | PCTEL Inc. | 16,184 | 70 |
* | Airgain Inc. | 10,184 | 66 |
* | Powerfleet Inc. | 23,451 | 63 |
* | Casa Systems Inc. | 21,249 | 58 |
* | Inseego Corp. | 62,650 | 53 |
* | Franklin Wireless Corp. | 11,013 | 49 |
Bel Fuse Inc. Class A | 1,376 | 46 | |
*,1 | Applied Optoelectronics Inc. | 17,785 | 34 |
Network-1 Technologies Inc. | 15,271 | 34 | |
*,1 | Vislink Technologies Inc. | 33,062 | 18 |
*,1 | Airspan Networks Holdings Inc. | 11,905 | 16 |
607,631 |
Shares | Market Value• ($000) | ||
Utilities (3.5%) | |||
NextEra Energy Inc. | 1,334,292 | 111,547 | |
Duke Energy Corp. | 515,696 | 53,112 | |
Southern Co. | 729,529 | 52,096 | |
Waste Management Inc. | 275,132 | 43,163 | |
Dominion Energy Inc. | 558,495 | 34,247 | |
American Electric Power Co. Inc. | 344,268 | 32,688 | |
Sempra Energy (XNYS) | 210,877 | 32,589 | |
Exelon Corp. | 665,147 | 28,754 | |
Xcel Energy Inc. | 366,933 | 25,726 | |
* | PG&E Corp. | 1,409,032 | 22,911 |
Waste Connections Inc. (XTSE) | 172,484 | 22,864 | |
Consolidated Edison Inc. | 238,124 | 22,696 | |
1 | Public Service Enterprise Group Inc. | 333,607 | 20,440 |
WEC Energy Group Inc. | 210,753 | 19,760 | |
Eversource Energy | 234,124 | 19,629 | |
Constellation Energy Corp. | 220,179 | 18,982 | |
American Water Works Co. Inc. | 122,102 | 18,611 | |
Republic Services Inc. Class A | 138,162 | 17,821 | |
Edison International | 255,198 | 16,236 | |
Ameren Corp. | 174,118 | 15,483 | |
Entergy Corp. | 136,625 | 15,370 | |
FirstEnergy Corp. | 364,898 | 15,304 | |
PPL Corp. | 470,131 | 13,737 | |
DTE Energy Co. | 110,489 | 12,986 | |
AES Corp. | 445,944 | 12,825 | |
CenterPoint Energy Inc. | 419,412 | 12,578 | |
CMS Energy Corp. | 196,321 | 12,433 | |
Atmos Energy Corp. | 94,332 | 10,572 | |
Evergy Inc. | 153,096 | 9,634 | |
Alliant Energy Corp. | 170,496 | 9,413 | |
Essential Utilities Inc. | 157,489 | 7,517 | |
NiSource Inc. | 269,947 | 7,402 | |
Vistra Corp. | 266,379 | 6,180 | |
Pinnacle West Capital Corp. | 75,015 | 5,704 | |
OGE Energy Corp. | 134,284 | 5,311 | |
UGI Corp. | 140,542 | 5,210 | |
1 | NRG Energy Inc. | 155,114 | 4,936 |
* | Clean Harbors Inc. | 34,300 | 3,914 |
National Fuel Gas Co. | 61,353 | 3,884 | |
IDACORP Inc. | 34,010 | 3,668 | |
* | Sunrun Inc. | 135,879 | 3,264 |
New Jersey Resources Corp. | 64,045 | 3,178 | |
* | Evoqua Water Technologies Corp. | 80,125 | 3,173 |
Hawaiian Electric Industries Inc. | 73,238 | 3,065 | |
* | Stericycle Inc. | 61,350 | 3,061 |
Black Hills Corp. | 43,269 | 3,044 | |
Portland General Electric Co. | 60,248 | 2,952 | |
South Jersey Industries Inc. | 81,983 | 2,913 | |
PNM Resources Inc. | 57,698 | 2,815 |
Shares | Market Value• ($000) | ||
Ormat Technologies Inc. (XNYS) | 31,774 | 2,748 | |
* | Casella Waste Systems Inc. Class A | 34,190 | 2,712 |
ONE Gas Inc. | 35,587 | 2,695 | |
Southwest Gas Holdings Inc. | 42,659 | 2,640 | |
ALLETE Inc. | 37,513 | 2,420 | |
Spire Inc. | 33,936 | 2,337 | |
American States Water Co. | 25,186 | 2,331 | |
NorthWestern Corp. | 38,679 | 2,295 | |
Avista Corp. | 50,082 | 2,221 | |
Avangrid Inc. | 51,284 | 2,204 | |
California Water Service Group | 36,351 | 2,204 | |
MGE Energy Inc. | 27,739 | 1,953 | |
Chesapeake Utilities Corp. | 12,449 | 1,471 | |
SJW Group | 17,962 | 1,458 | |
Clearway Energy Inc. Class C | 42,083 | 1,341 | |
*,1 | Sunnova Energy International Inc. | 66,404 | 1,196 |
Clearway Energy Inc. Class A | 36,775 | 1,100 | |
Northwest Natural Holding Co. | 22,269 | 1,060 | |
Middlesex Water Co. | 11,265 | 886 | |
Unitil Corp. | 11,221 | 576 | |
York Water Co. | 10,330 | 465 | |
* | Heritage-Crystal Clean Inc. | 12,511 | 406 |
Excelerate Energy Inc. Class A | 14,432 | 361 | |
* | Harsco Corp. | 56,173 | 353 |
*,1 | NuScale Power Corp. | 30,475 | 313 |
*,1 | Vertex Energy Inc. | 46,411 | 288 |
Artesian Resources Corp. Class A | 4,717 | 276 | |
Aris Water Solution Inc. Class A | 15,958 | 230 | |
* | Pure Cycle Corp. | 15,027 | 157 |
Genie Energy Ltd. Class B | 14,713 | 152 | |
* | Altus Power Inc. | 21,997 | 143 |
RGC Resources Inc. | 5,695 | 126 | |
Global Water Resources Inc. | 8,514 | 113 | |
* | Quest Resource Holding Corp. | 15,848 | 97 |
Via Renewables Inc. Class A | 9,665 | 49 | |
* | Advanced Emissions Solutions Inc. | 16,504 | 40 |
* | Cadiz Inc. | 16,180 | 40 |
* | Perma-Fix Environmental Services Inc. | 9,152 | 32 |
* | Charah Solutions Inc. | 1,184 | 6 |
876,893 | |||
Total Common Stocks (Cost $11,308,103) | 25,257,423 |
Shares | Market Value• ($000) | ||
Preferred Stock (0.0%) | |||
Air T Funding Preference Shares 8.000%, 6/7/49 (Cost $3) | 165 | 3 | |
Temporary Cash Investments (1.0%) | |||
Money Market Fund (1.0%) | |||
4,5 | Vanguard Market Liquidity Fund, 4.334% (Cost $266,467) | 2,665,189 | 266,492 |
Total Investments (100.4%) (Cost $11,574,573) | 25,523,918 | ||
Other Assets and Liabilities—Net (-0.4%) | (102,011) | ||
Net Assets (100%) | 25,421,907 | ||
Cost is in $000. |
• | See Note A in Notes to Financial Statements. |
* | Non-income-producing security. |
1 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $97,450,000. |
2 | Security value determined using significant unobservable inputs. |
3 | “Other” represents securities that are not classified by the fund’s benchmark index. |
4 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
5 | Collateral of $107,604,000 was received for securities on loan. |
ADR—American Depositary Receipt. | |
CVR—Contingent Value Rights. | |
REIT—Real Estate Investment Trust. |
Futures Contracts | ||||
($000) | ||||
Expiration | Number of Long (Short) Contracts | Notional Amount | Value and Unrealized Appreciation (Depreciation) | |
Long Futures Contracts | ||||
E-mini Russell 2000 Index | March 2023 | 15 | 1,328 | (31) |
E-Mini S&P 500 Index | March 2023 | 930 | 179,537 | (2,403) |
E-mini S&P Mid-Cap 400 Index | March 2023 | 30 | 7,328 | (132) |
(2,566) |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $11,308,106) | 25,257,426 |
Affiliated Issuers (Cost $266,467) | 266,492 |
Total Investments in Securities | 25,523,918 |
Investment in Vanguard | 974 |
Cash | 4,562 |
Cash Collateral Pledged—Futures Contracts | 10,358 |
Receivables for Investment Securities Sold | 138 |
Receivables for Accrued Income | 24,214 |
Receivables for Capital Shares Issued | 32,496 |
Total Assets | 25,596,660 |
Liabilities | |
Payables for Investment Securities Purchased | 5,032 |
Collateral for Securities on Loan | 107,604 |
Payables for Capital Shares Redeemed | 61,346 |
Payables to Vanguard | 226 |
Variation Margin Payable—Futures Contracts | 545 |
Total Liabilities | 174,753 |
Net Assets | 25,421,907 |
1 Includes $97,450,000 of securities on loan. | |
At December 31, 2022, net assets consisted of: | |
Paid-in Capital | 11,483,269 |
Total Distributable Earnings (Loss) | 13,938,638 |
Net Assets | 25,421,907 |
Institutional Shares—Net Assets | |
Applicable to 13,528,535 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 907,041 |
Net Asset Value Per Share—Institutional Shares | $67.05 |
Institutional Plus Shares—Net Assets | |
Applicable to 365,717,922 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 24,514,866 |
Net Asset Value Per Share—Institutional Plus Shares | $67.03 |
Year Ended December 31, 2022 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 425,778 |
Interest2 | 1,650 |
Securities Lending—Net | 4,730 |
Total Income | 432,158 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 1,066 |
Management and Administrative—Institutional Shares | 153 |
Management and Administrative—Institutional Plus Shares | 3,229 |
Marketing and Distribution—Institutional Shares | 31 |
Marketing and Distribution—Institutional Plus Shares | 709 |
Custodian Fees | 242 |
Auditing Fees | 30 |
Shareholders’ Reports—Institutional Shares | 7 |
Shareholders’ Reports—Institutional Plus Shares | 101 |
Trustees’ Fees and Expenses | 10 |
Other Expenses | 39 |
Total Expenses | 5,617 |
Expenses Paid Indirectly | (6) |
Net Expenses | 5,611 |
Net Investment Income | 426,547 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 3,013,842 |
Futures Contracts | (28,264) |
Realized Net Gain (Loss) | 2,985,578 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | (9,691,817) |
Futures Contracts | (5,229) |
Change in Unrealized Appreciation (Depreciation) | (9,697,046) |
Net Increase (Decrease) in Net Assets Resulting from Operations | (6,284,921) |
1 | Dividends are net of foreign withholding taxes of $31,000. |
2 | Interest income, realized net gain (loss), capital gain distributions received, and change in unrealized appreciation (depreciation) from an affiliated company of the fund were $1,592,000, ($24,000), $1,000, and $6,000, respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $2,647,229,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended December 31, | ||
2022 ($000) | 2021 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 426,547 | 460,576 |
Realized Net Gain (Loss) | 2,985,578 | 2,914,277 |
Change in Unrealized Appreciation (Depreciation) | (9,697,046) | 4,660,387 |
Net Increase (Decrease) in Net Assets Resulting from Operations | (6,284,921) | 8,035,240 |
Distributions | ||
Institutional Shares | (50,627) | (39,540) |
Institutional Plus Shares | (1,559,456) | (1,839,169) |
Total Distributions | (1,610,083) | (1,878,709) |
Capital Share Transactions | ||
Institutional Shares | 376,487 | (52,436) |
Institutional Plus Shares | (2,916,534) | (3,016,553) |
Net Increase (Decrease) from Capital Share Transactions | (2,540,047) | (3,068,989) |
Total Increase (Decrease) | (10,435,051) | 3,087,542 |
Net Assets | ||
Beginning of Period | 35,856,958 | 32,769,416 |
End of Period | 25,421,907 | 35,856,958 |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended December 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net Asset Value, Beginning of Period | $88.21 | $73.97 | $68.66 | $54.09 | $59.47 |
Investment Operations | |||||
Net Investment Income1 | 1.131 | 1.086 | 1.171 | 1.182 | 1.178 |
Net Realized and Unrealized Gain (Loss) on Investments | (17.949) | 17.890 | 12.690 | 15.381 | (4.186) |
Total from Investment Operations | (16.818) | 18.976 | 13.861 | 16.563 | (3.008) |
Distributions | |||||
Dividends from Net Investment Income | (1.143) | (1.100) | (1.325) | (1.245) | (1.185) |
Distributions from Realized Capital Gains | (3.199) | (3.636) | (2.541) | (.748) | (1.187) |
Distributions from Return of Capital | — | — | (4.685) | — | — |
Total Distributions | (4.342) | (4.736) | (8.551) | (1.993) | (2.372) |
Net Asset Value, End of Period | $67.05 | $88.21 | $73.97 | $68.66 | $54.09 |
Total Return | -19.49% | 25.75% | 20.99% | 30.86% | -5.15% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $907 | $757 | $682 | $722 | $494 |
Ratio of Total Expenses to Average Net Assets | 0.03%2 | 0.03% | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.55% | 1.30% | 1.72% | 1.87% | 1.94% |
Portfolio Turnover Rate3 | 8% | 5% | 11% | 5% | 7% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.03%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
Institutional Plus Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended December 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 | |
Net Asset Value, Beginning of Period | $88.19 | $73.96 | $68.66 | $54.09 | $59.47 |
Investment Operations | |||||
Net Investment Income1 | 1.132 | 1.095 | 1.143 | 1.182 | 1.191 |
Net Realized and Unrealized Gain (Loss) on Investments | (17.949) | 17.877 | 12.715 | 15.387 | (4.193) |
Total from Investment Operations | (16.817) | 18.972 | 13.858 | 16.569 | (3.002) |
Distributions | |||||
Dividends from Net Investment Income | (1.145) | (1.108) | (1.326) | (1.251) | (1.191) |
Distributions from Realized Capital Gains | (3.198) | (3.634) | (2.543) | (.748) | (1.187) |
Distributions from Return of Capital | — | — | (4.689) | — | — |
Total Distributions | (4.343) | (4.742) | (8.558) | (1.999) | (2.378) |
Net Asset Value, End of Period | $67.03 | $88.19 | $73.96 | $68.66 | $54.09 |
Total Return | -19.49% | 25.75% | 20.99% | 30.88% | -5.14% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $24,515 | $35,100 | $32,088 | $40,637 | $33,250 |
Ratio of Total Expenses to Average Net Assets | 0.02%2 | 0.02% | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.54% | 1.31% | 1.69% | 1.88% | 1.95% |
Portfolio Turnover Rate3 | 8% | 5% | 11% | 5% | 7% |
1 | Calculated based on average shares outstanding. |
2 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.02%. |
3 | Excludes the value of portfolio securities received or delivered as a result of in-kind purchases or redemptions of the fund’s capital shares. |
A. | The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements. |
B. | In accordance with the terms of a Funds' Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are generally settled twice a month. |
C. | The fund’s custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2022, custodian fee offset arrangements reduced the fund’s expenses by $6,000 (an annual rate of less than 0.01% of average net assets). |
D. | Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities. |
Level 1 ($000) | Level 2 ($000) | Level 3 ($000) | Total ($000) | |
Investments | ||||
Assets | ||||
Common Stocks | 25,257,069 | 41 | 313 | 25,257,423 |
Preferred Stock | 3 | — | — | 3 |
Temporary Cash Investments | 266,492 | — | — | 266,492 |
Total | 25,523,564 | 41 | 313 | 25,523,918 |
Derivative Financial Instruments | ||||
Liabilities | ||||
Futures Contracts1 | 2,566 | — | — | 2,566 |
1 | Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
E. | Permanent differences between book-basis and tax-basis components of net assets are reclassified among capital accounts in the financial statements to reflect their tax character. These reclassifications have no effect on net assets or net asset value per share. As of period end, permanent differences primarily attributable to the accounting for applicable in-kind redemptions, foreign currency transactions, passive foreign investment companies, and distributions in connection with fund share redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 2,706,204 |
Total Distributable Earnings (Loss) | (2,706,204) |
Amount ($000) | |
Undistributed Ordinary Income | 6,165 |
Undistributed Long-Term Gains | 39,766 |
Capital Loss Carryforwards | — |
Qualified Late-Year Losses | — |
Net Unrealized Gains (Losses) | 13,892,707 |
Year Ended December 31, | ||
2022 Amount ($000) | 2021 Amount ($000) | |
Ordinary Income* | 435,146 | 520,009 |
Long-Term Capital Gains | 1,174,937 | 1,358,700 |
Total | 1,610,083 | 1,878,709 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 11,631,211 |
Gross Unrealized Appreciation | 15,487,977 |
Gross Unrealized Depreciation | (1,595,270) |
Net Unrealized Appreciation (Depreciation) | 13,892,707 |
F. | During the year ended December 31, 2022, the fund purchased $2,367,882,000 of investment securities and sold $6,149,687,000 of investment securities, other than temporary cash investments. Purchases and sales include $0 and $3,677,983,000, respectively, in connection with in-kind purchases and redemptions of the fund's capital shares. |
G. | Capital share transactions for each class of shares were: |
Year Ended December 31, | |||||
2022 | 2021 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 572,414 | 7,712 | 147,693 | 1,815 | |
Issued in Lieu of Cash Distributions | 38,427 | 519 | 26,460 | 301 | |
Redeemed | (234,354) | (3,288) | (226,589) | (2,745) | |
Net Increase (Decrease)—Institutional Shares | 376,487 | 4,943 | (52,436) | (629) | |
Institutional Plus Shares | |||||
Issued | 4,441,096 | 58,784 | 2,981,102 | 35,930 | |
Issued in Lieu of Cash Distributions | 1,467,628 | 19,701 | 1,742,544 | 19,926 | |
Redeemed | (8,825,258) | (110,768) | (7,740,199) | (91,703) | |
Net Increase (Decrease)—Institutional Plus Shares | (2,916,534) | (32,283) | (3,016,553) | (35,847) |
H. | Management has determined that no events or transactions occurred subsequent to December 31, 2022, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
February 15, 2023
Matthew Benchener | Thomas M. Rampulla |
Joseph Brennan | Karin A. Risi |
Mortimer J. Buckley | Anne E. Robinson |
Gregory Davis | Michael Rollings |
John James | Nitin Tandon |
Chris D. Mclsaac | Lauren Valente |
All rights reserved.
Vanguard Marketing Corporation, Distributor.
Item 2: Code of Ethics.
The Registrant has adopted a code of ethics that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Ethics was amended during the reporting period covered by this report to make certain technical, non-material changes.
Item 3: Audit Committee Financial Expert.
All members of the Audit Committee have been determined by the Registrant’s Board of Trustees to be Audit Committee Financial Experts and to be independent: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.
Item 4: Principal Accountant Fees and Services.
(a) Audit Fees.
Audit Fees of the Registrant.
Fiscal Year Ended December 31, 2022: $61,000
Fiscal Year Ended December 31, 2021: $64,000
Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.
Fiscal Year Ended December 31, 2022: $10,494,508
Fiscal Year Ended December 31, 2021: $11,244,694
Includes fees billed in connection with audits of the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(b) Audit-Related Fees.
Fiscal Year Ended December 31, 2022: $2,757,764
Fiscal Year Ended December 31, 2021: $2,955,181
Includes fees billed in connection with assurance and related services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(c) Tax Fees.
Fiscal Year Ended December 31, 2022: $5,202,689
Fiscal Year Ended December 31, 2021: $2,047,574
Includes fees billed in connection with tax compliance, planning, and advice services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(d) All Other Fees.
Fiscal Year Ended December 31, 2022: $298,000
Fiscal Year Ended December 31, 2021: $280,000
Includes fees billed for services related to tax reported information provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(e) (1) Pre-Approval Policies. The policy of the Registrant’s Audit Committee is to consider, and, if appropriate, approve before the principal accountant is engaged for such services, all specific audit and non-audit services provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant. In making a determination, the Audit Committee considers whether the services are consistent with maintaining the principal accountant’s independence.
In the event of a contingency situation in which the principal accountant is needed to provide services in between scheduled Audit Committee meetings, the Chairman of the Audit Committee would be called on to consider and, if appropriate, pre-approve audit or permitted non-audit services in an amount sufficient to complete services through the next Audit Committee meeting, and to determine if such services would be consistent with maintaining the accountant’s independence. At the next scheduled Audit Committee meeting, services and fees would be presented to the Audit Committee for formal consideration, and, if appropriate, approval by the entire Audit Committee. The Audit Committee would again consider whether such services and fees are consistent with maintaining the principal accountant’s independence.
The Registrant’s Audit Committee is informed at least annually of all audit and non-audit services provided by the principal accountant to the Vanguard complex, whether such services are provided to: the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., or other entities controlled by The Vanguard Group, Inc. that provide ongoing services to the Registrant.
(2) No percentage of the principal accountant’s fees or services were approved pursuant to the waiver provision of paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) For the most recent fiscal year, over 50% of the hours worked under the principal accountant’s engagement were not performed by persons other than full-time, permanent employees of the principal accountant.
(g) Aggregate Non-Audit Fees.
Fiscal Year Ended December 31, 2022: $5,500,689
Fiscal Year Ended December 31, 2021: $2,327,574
Includes fees billed for non-audit services provided to the Registrant, other registered investment companies in the Vanguard complex, The Vanguard Group, Inc., and Vanguard Marketing Corporation.
(h) For the most recent fiscal year, the Audit Committee has determined that the provision of all non-audit services was consistent with maintaining the principal accountant’s independence.
Item 5: Audit Committee of Listed Registrants.
The Registrant is a listed issuer as defined in rule 10A-3 under the Securities Exchange Act of 1934 (“Exchange Act”). The Registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit committee members are: F. Joseph Loughrey, Mark Loughridge, Sarah Bloom Raskin, and Peter F. Volanakis.
Item 6: Investments.
Not applicable. The complete schedule of investments is included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in the Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
(a)(1) | Code of Ethics filed herewith. | |
(a)(2) | Certifications filed herewith. | |
(b) | Certifications filed herewith. | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
VANGUARD INSTITUTIONAL INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: February 17, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
VANGUARD INSTITUTIONAL INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER |
Date: February 17, 2023
VANGUARD INSTITUTIONAL INDEX FUNDS | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER |
Date: February 17, 2023
* By: | /s/ Anne E. Robinson |
Anne E. Robinson, pursuant to a Power of Attorney filed on October 11, 2022 (see File Number 333-11763), Incorporated by Reference.