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, 2023 - December 31, 2023
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, 2023, Vanguard Institutional Index Fund returned 26.24% for Institutional Shares and 26.26% 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 fourth quarter of 2023 was a volatile period for the financial markets. Stocks and bonds continued to lose ground early on amid concerns that interest rates might remain elevated for an extended period. They went on to post strong gains, however, as inflation remained on a downward trend and economic growth softened, leading the markets to anticipate that policy rates had reached their peak and that cuts were likely not too far down the road. |
• | The majority of the index’s 11 sectors recorded positive returns for the 12 months. Communication services, energy, and health care stocks helped performance the most. |
• | For the 10 years ended December 31, the fund posted average annual returns of 12.00% for Institutional Shares and 12.02% for Institutional Plus Shares, closely tracking the return of its index. |
Average Annual Total Returns Periods Ended December 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 26.53% | 8.97% | 15.52% |
Russell 2000 Index (Small-caps) | 16.93 | 2.22 | 9.97 |
Russell 3000 Index (Broad U.S. market) | 25.96 | 8.54 | 15.16 |
FTSE All-World ex US Index (International) | 15.82 | 1.98 | 7.52 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | 5.60% | -3.33% | 1.17% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 6.40 | -0.40 | 2.25 |
FTSE Three-Month U.S. Treasury Bill Index | 5.26 | 2.24 | 1.91 |
CPI | |||
Consumer Price Index | 3.35% | 5.60% | 4.07% |
• | 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, 2023 | |||
Beginning Account Value 6/30/2023 | Ending Account Value 12/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Institutional Index Fund | |||
Institutional Shares | $1,000.00 | $1,080.20 | $0.18 |
Institutional Plus Shares | 1,000.00 | 1,080.30 | 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, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Institutional Index Fund Institutional Shares | 26.24% | 15.66% | 12.00% | $15,533,419 | |
S&P 500 Index | 26.29 | 15.69 | 12.03 | 15,574,668 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 26.06 | 15.05 | 11.40 | 14,710,990 |
One Year | Five Years | Ten Years | Final Value of a $100,000,000 Investment | ||
Institutional Index Fund Institutional Plus Shares | 26.26% | 15.67% | 12.02% | $311,186,060 | |
S&P 500 Index | 26.29 | 15.69 | 12.03 | 311,493,360 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 26.06 | 15.05 | 11.40 | 294,219,800 |
Communication Services | 8.6% |
Consumer Discretionary | 10.9 |
Consumer Staples | 6.1 |
Energy | 3.9 |
Financials | 13.0 |
Health Care | 12.6 |
Industrials | 8.8 |
Information Technology | 28.9 |
Materials | 2.4 |
Real Estate | 2.5 |
Utilities | 2.3 |
Shares | Market Value• ($000) | ||
Common Stocks (99.9%) | |||
Communication Services (8.6%) | |||
* | Alphabet Inc. Class A | 39,184,721 | 5,473,714 |
* | Meta Platforms Inc. Class A | 14,695,664 | 5,201,677 |
* | Alphabet Inc. Class C | 32,974,054 | 4,647,033 |
* | Netflix Inc. | 2,897,835 | 1,410,898 |
Comcast Corp. Class A | 26,588,232 | 1,165,894 | |
Walt Disney Co. | 12,115,120 | 1,093,874 | |
Verizon Communications Inc. | 27,834,878 | 1,049,375 | |
AT&T Inc. | 47,339,683 | 794,360 | |
T-Mobile US Inc. | 3,369,008 | 540,153 | |
* | Charter Communications Inc. Class A | 666,020 | 258,868 |
Electronic Arts Inc. | 1,620,578 | 221,711 | |
* | Take-Two Interactive Software Inc. | 1,046,715 | 168,469 |
* | Warner Bros Discovery Inc. | 14,687,953 | 167,149 |
Omnicom Group Inc. | 1,311,567 | 113,464 | |
* | Live Nation Entertainment Inc. | 940,148 | 87,998 |
Interpublic Group of Cos. Inc. | 2,532,875 | 82,673 | |
News Corp. Class A | 3,311,250 | 81,291 | |
* | Match Group Inc. | 1,803,282 | 65,820 |
Fox Corp. Class A | 1,644,734 | 48,799 | |
1 | Paramount Global Class B | 3,189,308 | 47,170 |
Fox Corp. Class B | 860,980 | 23,806 | |
22,744,196 | |||
Consumer Discretionary (10.9%) | |||
* | Amazon.com Inc. | 60,209,385 | 9,148,214 |
* | Tesla Inc. | 18,310,996 | 4,549,916 |
Home Depot Inc. | 6,621,163 | 2,294,564 | |
McDonald's Corp. | 4,802,370 | 1,423,951 | |
NIKE Inc. Class B | 8,103,384 | 879,784 | |
Lowe's Cos. Inc. | 3,820,858 | 850,332 | |
* | Booking Holdings Inc. | 231,001 | 819,411 |
Starbucks Corp. | 7,564,879 | 726,304 | |
TJX Cos. Inc. | 7,574,399 | 710,554 | |
* | Chipotle Mexican Grill Inc. | 181,710 | 415,564 |
Shares | Market Value• ($000) | ||
* | Airbnb Inc. Class A | 2,878,358 | 391,860 |
* | Lululemon Athletica Inc. | 762,341 | 389,777 |
* | O'Reilly Automotive Inc. | 391,681 | 372,128 |
Marriott International Inc. Class A | 1,633,371 | 368,342 | |
General Motors Co. | 9,067,397 | 325,701 | |
Ford Motor Co. | 26,034,237 | 317,357 | |
Ross Stores Inc. | 2,241,889 | 310,255 | |
Hilton Worldwide Holdings Inc. | 1,697,856 | 309,163 | |
DR Horton Inc. | 1,994,821 | 303,173 | |
* | AutoZone Inc. | 116,745 | 301,857 |
Yum! Brands Inc. | 1,855,857 | 242,486 | |
Lennar Corp. Class A | 1,614,100 | 240,565 | |
* | Royal Caribbean Cruises Ltd. | 1,560,824 | 202,111 |
* | Aptiv plc | 1,872,535 | 168,004 |
* | Ulta Beauty Inc. | 325,905 | 159,690 |
Tractor Supply Co. | 715,727 | 153,903 | |
eBay Inc. | 3,435,582 | 149,860 | |
* | NVR Inc. | 21,037 | 147,269 |
PulteGroup Inc. | 1,426,712 | 147,265 | |
* | Expedia Group Inc. | 882,527 | 133,959 |
Darden Restaurants Inc. | 796,292 | 130,831 | |
Garmin Ltd. | 1,013,188 | 130,235 | |
Genuine Parts Co. | 928,646 | 128,618 | |
* | Carnival Corp. | 6,663,675 | 123,545 |
Las Vegas Sands Corp. | 2,443,955 | 120,267 | |
Pool Corp. | 255,862 | 102,015 | |
Best Buy Co. Inc. | 1,282,313 | 100,379 | |
Domino's Pizza Inc. | 231,146 | 95,285 | |
LKQ Corp. | 1,773,646 | 84,763 | |
* | MGM Resorts International | 1,812,521 | 80,983 |
* | CarMax Inc. | 1,050,681 | 80,629 |
* | Caesars Entertainment Inc. | 1,426,903 | 66,893 |
Bath & Body Works Inc. | 1,505,320 | 64,970 | |
* | Etsy Inc. | 794,229 | 64,372 |
Wynn Resorts Ltd. | 636,670 | 58,007 | |
* | Norwegian Cruise Line Holdings Ltd. | 2,815,839 | 56,429 |
Tapestry Inc. | 1,520,432 | 55,967 |
Shares | Market Value• ($000) | ||
BorgWarner Inc. (XNYS) | 1,558,158 | 55,860 | |
Hasbro Inc. | 865,585 | 44,197 | |
Whirlpool Corp. | 362,837 | 44,183 | |
VF Corp. | 2,194,857 | 41,263 | |
Ralph Lauren Corp. | 263,270 | 37,964 | |
* | Mohawk Industries Inc. | 350,766 | 36,304 |
Lennar Corp. Class B | 49,389 | 6,621 | |
28,763,899 | |||
Consumer Staples (6.1%) | |||
Procter & Gamble Co. | 15,604,832 | 2,286,732 | |
Costco Wholesale Corp. | 2,931,294 | 1,934,889 | |
PepsiCo Inc. | 9,102,706 | 1,546,004 | |
Coca-Cola Co. | 25,761,922 | 1,518,150 | |
Walmart Inc. | 9,444,717 | 1,488,960 | |
Philip Morris International Inc. | 10,278,364 | 966,988 | |
Mondelez International Inc. Class A | 9,007,108 | 652,385 | |
Altria Group Inc. | 11,711,027 | 472,423 | |
Target Corp. | 3,056,153 | 435,257 | |
Colgate-Palmolive Co. | 5,451,964 | 434,576 | |
* | Monster Beverage Corp. | 4,890,846 | 281,762 |
Kimberly-Clark Corp. | 2,237,187 | 271,841 | |
Constellation Brands Inc. Class A | 1,069,721 | 258,605 | |
Archer-Daniels-Midland Co. | 3,531,505 | 255,045 | |
General Mills Inc. | 3,848,622 | 250,699 | |
Kenvue Inc. | 11,411,140 | 245,682 | |
Sysco Corp. | 3,338,078 | 244,114 | |
Estee Lauder Cos. Inc. Class A | 1,537,330 | 224,835 | |
Keurig Dr Pepper Inc. | 6,666,200 | 222,118 | |
Kroger Co. | 4,383,915 | 200,389 | |
Dollar General Corp. | 1,453,064 | 197,544 | |
* | Dollar Tree Inc. | 1,383,734 | 196,559 |
Kraft Heinz Co. | 5,279,158 | 195,223 | |
Hershey Co. | 992,361 | 185,016 | |
Church & Dwight Co. Inc. | 1,630,383 | 154,169 | |
Walgreens Boots Alliance Inc. | 4,747,408 | 123,955 | |
McCormick & Co. Inc. | 1,665,234 | 113,935 | |
Lamb Weston Holdings Inc. | 960,338 | 103,803 | |
Tyson Foods Inc. Class A | 1,887,087 | 101,431 | |
Kellanova | 1,747,630 | 97,710 | |
Bunge Global SA | 960,608 | 96,973 | |
Conagra Brands Inc. | 3,165,158 | 90,713 | |
J M Smucker Co. | 701,970 | 88,715 | |
Clorox Co. | 570,687 | 81,374 | |
Molson Coors Beverage Co. Class B | 1,225,339 | 75,003 | |
Brown-Forman Corp. Class B | 1,213,717 | 69,303 | |
Hormel Foods Corp. | 1,916,348 | 61,534 | |
Campbell Soup Co. | 1,300,564 | 56,223 | |
16,280,637 |
Shares | Market Value• ($000) | ||
Energy (3.9%) | |||
Exxon Mobil Corp. | 26,520,821 | 2,651,552 | |
Chevron Corp. | 11,623,534 | 1,733,766 | |
ConocoPhillips | 7,861,578 | 912,493 | |
Schlumberger NV | 9,457,566 | 492,172 | |
EOG Resources Inc. | 3,860,932 | 466,980 | |
Phillips 66 | 2,912,918 | 387,826 | |
Marathon Petroleum Corp. | 2,513,945 | 372,969 | |
Pioneer Natural Resources Co. | 1,544,698 | 347,372 | |
Valero Energy Corp. | 2,254,115 | 293,035 | |
Williams Cos. Inc. | 8,054,482 | 280,538 | |
ONEOK Inc. | 3,856,966 | 270,836 | |
Hess Corp. | 1,830,196 | 263,841 | |
Occidental Petroleum Corp. | 4,371,522 | 261,023 | |
Baker Hughes Co. | 6,662,659 | 227,730 | |
Kinder Morgan Inc. | 12,804,353 | 225,869 | |
Halliburton Co. | 5,926,283 | 214,235 | |
Devon Energy Corp. | 4,241,919 | 192,159 | |
Diamondback Energy Inc. | 1,184,874 | 183,750 | |
Targa Resources Corp. | 1,477,674 | 128,365 | |
Coterra Energy Inc. | 4,976,179 | 126,992 | |
EQT Corp. | 2,720,768 | 105,185 | |
Marathon Oil Corp. | 3,879,961 | 93,740 | |
APA Corp. | 2,030,638 | 72,859 | |
10,305,287 | |||
Financials (12.9%) | |||
* | Berkshire Hathaway Inc. Class B | 12,046,313 | 4,296,438 |
JPMorgan Chase & Co. | 19,141,036 | 3,255,890 | |
Visa Inc. Class A | 10,553,699 | 2,747,656 | |
Mastercard Inc. Class A | 5,482,686 | 2,338,420 | |
Bank of America Corp. | 45,585,340 | 1,534,858 | |
Wells Fargo & Co. | 24,045,201 | 1,183,505 | |
S&P Global Inc. | 2,145,165 | 944,988 | |
Morgan Stanley | 8,367,578 | 780,277 | |
Goldman Sachs Group Inc. | 1,954,176 | 753,862 | |
BlackRock Inc. | 925,838 | 751,595 | |
American Express Co. | 3,811,809 | 714,104 | |
Charles Schwab Corp. | 9,853,225 | 677,902 | |
Citigroup Inc. | 12,672,168 | 651,856 | |
Marsh & McLennan Cos. Inc. | 3,264,428 | 618,511 | |
Progressive Corp. | 3,873,453 | 616,964 | |
Blackstone Inc. | 4,704,439 | 615,905 | |
Chubb Ltd. | 2,701,143 | 610,458 | |
* | Fiserv Inc. | 3,973,936 | 527,898 |
CME Group Inc. | 2,383,526 | 501,971 | |
Intercontinental Exchange Inc. | 3,789,651 | 486,705 | |
US Bancorp | 10,309,159 | 446,180 | |
* | PayPal Holdings Inc. | 7,138,158 | 438,354 |
PNC Financial Services Group Inc. | 2,637,575 | 408,429 | |
Moody's Corp. | 1,042,005 | 406,965 | |
Aon plc Class A (XNYS) | 1,325,546 | 385,760 | |
Capital One Financial Corp. | 2,521,875 | 330,668 |
Shares | Market Value• ($000) | ||
Truist Financial Corp. | 8,830,494 | 326,022 | |
Arthur J Gallagher & Co. | 1,429,412 | 321,446 | |
American International Group Inc. | 4,648,116 | 314,910 | |
MSCI Inc. | 523,649 | 296,202 | |
Aflac Inc. | 3,520,897 | 290,474 | |
Travelers Cos. Inc. | 1,512,156 | 288,051 | |
MetLife Inc. | 4,116,516 | 272,225 | |
Bank of New York Mellon Corp. | 5,092,515 | 265,065 | |
Ameriprise Financial Inc. | 670,044 | 254,503 | |
Prudential Financial Inc. | 2,390,229 | 247,891 | |
Allstate Corp. | 1,732,580 | 242,527 | |
Fidelity National Information Services Inc. | 3,922,827 | 235,644 | |
Global Payments Inc. | 1,723,893 | 218,934 | |
Discover Financial Services | 1,655,735 | 186,105 | |
* | Arch Capital Group Ltd. | 2,470,675 | 183,497 |
Willis Towers Watson plc | 683,638 | 164,894 | |
Hartford Financial Services Group Inc. | 1,991,215 | 160,054 | |
T Rowe Price Group Inc. | 1,479,625 | 159,341 | |
State Street Corp. | 2,043,330 | 158,276 | |
Fifth Third Bancorp | 4,509,139 | 155,520 | |
M&T Bank Corp. | 1,099,063 | 150,660 | |
Raymond James Financial Inc. | 1,244,305 | 138,740 | |
* | FleetCor Technologies Inc. | 477,915 | 135,064 |
Nasdaq Inc. | 2,252,970 | 130,988 | |
Cboe Global Markets Inc. | 698,341 | 124,696 | |
Huntington Bancshares Inc. | 9,578,186 | 121,835 | |
FactSet Research Systems Inc. | 251,670 | 120,059 | |
Regions Financial Corp. | 6,155,697 | 119,297 | |
Northern Trust Corp. | 1,369,489 | 115,558 | |
Principal Financial Group Inc. | 1,450,917 | 114,144 | |
Brown & Brown Inc. | 1,563,948 | 111,212 | |
Cincinnati Financial Corp. | 1,038,936 | 107,488 | |
Synchrony Financial | 2,736,573 | 104,510 | |
Citizens Financial Group Inc. | 3,084,337 | 102,215 | |
Everest Group Ltd. | 287,228 | 101,558 | |
W R Berkley Corp. | 1,349,539 | 95,439 | |
KeyCorp. | 6,200,127 | 89,282 | |
Loews Corp. | 1,213,500 | 84,447 | |
Jack Henry & Associates Inc. | 481,437 | 78,672 | |
MarketAxess Holdings Inc. | 250,960 | 73,494 | |
Globe Life Inc. | 567,764 | 69,108 | |
Assurant Inc. | 348,764 | 58,763 |
Shares | Market Value• ($000) | ||
Franklin Resources Inc. | 1,860,964 | 55,438 | |
Invesco Ltd. | 2,983,535 | 53,226 | |
Comerica Inc. | 873,680 | 48,760 | |
Zions Bancorp NA | 980,079 | 42,996 | |
34,315,349 | |||
Health Care (12.6%) | |||
UnitedHealth Group Inc. | 6,123,775 | 3,223,984 | |
Eli Lilly & Co. | 5,279,603 | 3,077,586 | |
Johnson & Johnson | 15,938,352 | 2,498,177 | |
Merck & Co. Inc. | 16,777,561 | 1,829,090 | |
AbbVie Inc. | 11,689,274 | 1,811,487 | |
Thermo Fisher Scientific Inc. | 2,557,985 | 1,357,753 | |
Abbott Laboratories | 11,489,384 | 1,264,636 | |
Pfizer Inc. | 37,384,272 | 1,076,293 | |
Amgen Inc. | 3,543,301 | 1,020,542 | |
Danaher Corp. | 4,353,936 | 1,007,240 | |
* | Intuitive Surgical Inc. | 2,330,979 | 786,379 |
Elevance Health Inc. | 1,555,629 | 733,572 | |
Medtronic plc | 8,809,230 | 725,704 | |
* | Vertex Pharmaceuticals Inc. | 1,706,061 | 694,179 |
Bristol-Myers Squibb Co. | 13,472,079 | 691,252 | |
CVS Health Corp. | 8,503,853 | 671,464 | |
Stryker Corp. | 2,238,524 | 670,348 | |
Gilead Sciences Inc. | 8,249,743 | 668,312 | |
* | Regeneron Pharmaceuticals Inc. | 709,277 | 622,951 |
Zoetis Inc. | 3,039,777 | 599,961 | |
Cigna Group | 1,937,390 | 580,151 | |
* | Boston Scientific Corp. | 9,694,252 | 560,425 |
Becton Dickinson & Co. | 1,920,733 | 468,332 | |
McKesson Corp. | 880,994 | 407,883 | |
Humana Inc. | 815,094 | 373,158 | |
HCA Healthcare Inc. | 1,311,358 | 354,958 | |
* | DexCom Inc. | 2,558,084 | 317,433 |
* | Edwards Lifesciences Corp. | 4,015,413 | 306,175 |
* | IDEXX Laboratories Inc. | 550,157 | 305,365 |
* | IQVIA Holdings Inc. | 1,212,271 | 280,495 |
Agilent Technologies Inc. | 1,936,874 | 269,284 | |
* | Centene Corp. | 3,536,884 | 262,472 |
* | Biogen Inc. | 959,312 | 248,241 |
Cencora Inc. | 1,103,778 | 226,694 | |
* | Moderna Inc. | 2,197,226 | 218,514 |
GE Healthcare Inc. | 2,591,830 | 200,400 | |
* | Mettler-Toledo International Inc. | 143,532 | 174,099 |
West Pharmaceutical Services Inc. | 490,289 | 172,641 | |
Zimmer Biomet Holdings Inc. | 1,383,560 | 168,379 | |
ResMed Inc. | 974,694 | 167,667 | |
Cardinal Health Inc. | 1,631,881 | 164,494 | |
* | Illumina Inc. | 1,050,848 | 146,320 |
STERIS plc | 653,684 | 143,712 | |
* | Molina Healthcare Inc. | 386,007 | 139,468 |
Baxter International Inc. | 3,358,973 | 129,858 | |
* | Align Technology Inc. | 472,126 | 129,363 |
Shares | Market Value• ($000) | ||
* | Waters Corp. | 391,394 | 128,859 |
Laboratory Corp. of America Holdings | 561,834 | 127,699 | |
Cooper Cos. Inc. | 327,878 | 124,082 | |
* | Hologic Inc. | 1,621,176 | 115,833 |
Quest Diagnostics Inc. | 743,823 | 102,558 | |
* | Insulet Corp. | 462,291 | 100,308 |
Revvity Inc. | 818,238 | 89,442 | |
Viatris Inc. | 7,930,369 | 85,886 | |
Bio-Techne Corp. | 1,047,126 | 80,796 | |
* | Charles River Laboratories International Inc. | 339,551 | 80,270 |
Teleflex Inc. | 310,954 | 77,533 | |
* | Incyte Corp. | 1,232,469 | 77,387 |
* | Henry Schein Inc. | 864,001 | 65,414 |
Universal Health Services Inc. Class B | 404,622 | 61,681 | |
* | Catalent Inc. | 1,190,519 | 53,490 |
DENTSPLY SIRONA Inc. | 1,401,868 | 49,892 | |
* | Bio-Rad Laboratories Inc. Class A | 138,866 | 44,838 |
* | DaVita Inc. | 357,989 | 37,503 |
33,450,362 | |||
Industrials (8.8%) | |||
Caterpillar Inc. | 3,377,562 | 998,644 | |
Union Pacific Corp. | 4,036,053 | 991,335 | |
* | Boeing Co. | 3,765,124 | 981,417 |
General Electric Co. | 7,206,163 | 919,723 | |
Honeywell International Inc. | 4,364,867 | 915,356 | |
* | Uber Technologies Inc. | 13,624,804 | 838,879 |
RTX Corp. | 9,520,285 | 801,037 | |
United Parcel Service Inc. Class B (XNYS) | 4,788,459 | 752,889 | |
Deere & Co. | 1,773,329 | 709,101 | |
Lockheed Martin Corp. | 1,462,027 | 662,649 | |
Eaton Corp. plc | 2,643,714 | 636,659 | |
Automatic Data Processing Inc. | 2,723,143 | 634,411 | |
Illinois Tool Works Inc. | 1,812,867 | 474,862 | |
CSX Corp. | 13,083,751 | 453,614 | |
Northrop Grumman Corp. | 938,538 | 439,367 | |
Waste Management Inc. | 2,426,680 | 434,618 | |
3M Co. | 3,656,869 | 399,769 | |
Parker-Hannifin Corp. | 850,661 | 391,900 | |
General Dynamics Corp. | 1,499,873 | 389,472 | |
FedEx Corp. | 1,531,467 | 387,415 | |
TransDigm Group Inc. | 366,252 | 370,501 | |
Trane Technologies plc | 1,512,201 | 368,826 | |
Emerson Electric Co. | 3,774,452 | 367,367 | |
Norfolk Southern Corp. | 1,497,218 | 353,912 | |
Cintas Corp. | 573,197 | 345,443 | |
PACCAR Inc. | 3,463,427 | 338,204 | |
Carrier Global Corp. | 5,555,231 | 319,148 | |
* | Copart Inc. | 5,785,073 | 283,469 |
L3Harris Technologies Inc. | 1,254,300 | 264,181 |
Shares | Market Value• ($000) | ||
Johnson Controls International plc | 4,504,239 | 259,624 | |
United Rentals Inc. | 448,772 | 257,335 | |
Paychex Inc. | 2,128,080 | 253,476 | |
AMETEK Inc. | 1,528,053 | 251,961 | |
Fastenal Co. | 3,783,462 | 245,055 | |
Otis Worldwide Corp. | 2,709,781 | 242,444 | |
WW Grainger Inc. | 292,493 | 242,386 | |
Old Dominion Freight Line Inc. | 592,383 | 240,111 | |
Rockwell Automation Inc. | ��759,192 | 235,714 | |
Verisk Analytics Inc. | 960,221 | 229,358 | |
Cummins Inc. | 938,506 | 224,838 | |
Republic Services Inc. | 1,354,125 | 223,309 | |
Quanta Services Inc. | 961,934 | 207,585 | |
Ingersoll Rand Inc. (XYNS) | 2,680,155 | 207,283 | |
Equifax Inc. | 815,768 | 201,731 | |
Xylem Inc. | 1,596,148 | 182,536 | |
Delta Air Lines Inc. | 4,261,839 | 171,454 | |
Fortive Corp. | 2,327,631 | 171,384 | |
Broadridge Financial Solutions Inc. | 778,971 | 160,273 | |
Westinghouse Air Brake Technologies Corp. | 1,186,302 | 150,542 | |
Dover Corp. | 926,254 | 142,467 | |
Howmet Aerospace Inc. | 2,590,337 | 140,189 | |
* | Builders FirstSource Inc. | 816,642 | 136,330 |
Expeditors International of Washington Inc. | 962,600 | 122,443 | |
* | Axon Enterprise Inc. | 466,600 | 120,537 |
Veralto Corp. | 1,452,619 | 119,492 | |
Hubbell Inc. | 355,091 | 116,800 | |
Southwest Airlines Co. | 3,945,350 | 113,942 | |
IDEX Corp. | 500,742 | 108,716 | |
Jacobs Solutions Inc. | 833,252 | 108,156 | |
JB Hunt Transport Services Inc. | 539,520 | 107,764 | |
Textron Inc. | 1,297,378 | 104,335 | |
Snap-on Inc. | 349,327 | 100,900 | |
Stanley Black & Decker Inc. | 1,014,127 | 99,486 | |
Masco Corp. | 1,484,522 | 99,433 | |
Leidos Holdings Inc. | 910,450 | 98,547 | |
Nordson Corp. | 358,193 | 94,620 | |
* | United Airlines Holdings Inc. | 2,170,592 | 89,559 |
Rollins Inc. | 1,858,666 | 81,168 | |
Pentair plc | 1,095,837 | 79,678 | |
Allegion plc | 581,248 | 73,638 | |
* | Ceridian HCM Holding Inc. | 1,033,120 | 69,343 |
Huntington Ingalls Industries Inc. | 262,349 | 68,116 | |
Paycom Software Inc. | 324,678 | 67,117 | |
A O Smith Corp. | 813,840 | 67,093 | |
CH Robinson Worldwide Inc. | 771,874 | 66,682 |
Shares | Market Value• ($000) | ||
Robert Half Inc. | 702,619 | 61,774 | |
* | American Airlines Group Inc. | 4,326,340 | 59,444 |
* | Generac Holdings Inc. | 407,081 | 52,611 |
23,352,947 | |||
Information Technology (28.8%) | |||
Apple Inc. | 96,794,299 | 18,635,806 | |
Microsoft Corp. | 49,207,834 | 18,504,114 | |
NVIDIA Corp. | 16,353,482 | 8,098,571 | |
Broadcom Inc. | 2,906,177 | 3,244,020 | |
* | Adobe Inc. | 3,014,480 | 1,798,439 |
* | Salesforce Inc. | 6,442,117 | 1,695,179 |
* | Advanced Micro Devices Inc. | 10,697,092 | 1,576,858 |
Accenture plc Class A | 4,155,436 | 1,458,184 | |
Intel Corp. | 27,913,517 | 1,402,654 | |
Cisco Systems Inc. | 26,818,684 | 1,354,880 | |
Intuit Inc. | 1,855,562 | 1,159,782 | |
Oracle Corp. | 10,519,504 | 1,109,071 | |
QUALCOMM Inc. | 7,368,991 | 1,065,777 | |
Texas Instruments Inc. | 6,013,063 | 1,024,987 | |
International Business Machines Corp. | 6,045,953 | 988,816 | |
* | ServiceNow Inc. | 1,357,286 | 958,909 |
Applied Materials Inc. | 5,538,581 | 897,638 | |
Lam Research Corp. | 872,583 | 683,459 | |
Analog Devices Inc. | 3,299,266 | 655,102 | |
Micron Technology Inc. | 7,269,947 | 620,417 | |
* | Palo Alto Networks Inc. | 2,057,889 | 606,830 |
KLA Corp. | 899,988 | 523,163 | |
* | Synopsys Inc. | 1,006,943 | 518,485 |
* | Cadence Design Systems Inc. | 1,801,333 | 490,629 |
* | Arista Networks Inc. | 1,668,434 | 392,933 |
Amphenol Corp. Class A | 3,961,872 | 392,740 | |
NXP Semiconductors NV | 1,706,620 | 391,977 | |
Roper Technologies Inc. | 707,297 | 385,597 | |
* | Autodesk Inc. | 1,415,309 | 344,599 |
Motorola Solutions Inc. | 1,098,942 | 344,068 | |
Microchip Technology Inc. | 3,582,171 | 323,040 | |
TE Connectivity Ltd. | 2,057,928 | 289,139 | |
Cognizant Technology Solutions Corp. Class A | 3,320,219 | 250,776 | |
* | Fortinet Inc. | 4,219,921 | 246,992 |
* | ON Semiconductor Corp. | 2,851,569 | 238,192 |
* | Gartner Inc. | 516,155 | 232,843 |
* | ANSYS Inc. | 574,644 | 208,527 |
CDW Corp. | 887,039 | 201,642 | |
Monolithic Power Systems Inc. | 317,220 | 200,096 | |
* | Fair Isaac Corp. | 163,636 | 190,474 |
* | Keysight Technologies Inc. | 1,175,776 | 187,054 |
HP Inc. | 5,754,674 | 173,158 | |
Corning Inc. | 5,084,873 | 154,834 | |
Hewlett Packard Enterprise Co. | 8,494,228 | 144,232 |
Shares | Market Value• ($000) | ||
* | Teledyne Technologies Inc. | 312,213 | 139,338 |
* | PTC Inc. | 786,851 | 137,668 |
* | First Solar Inc. | 707,171 | 121,831 |
NetApp Inc. | 1,381,900 | 121,828 | |
* | VeriSign Inc. | 587,876 | 121,079 |
* | Enphase Energy Inc. | 905,037 | 119,592 |
Skyworks Solutions Inc. | 1,055,406 | 118,649 | |
* | Akamai Technologies Inc. | 998,173 | 118,134 |
* | Tyler Technologies Inc. | 278,623 | 116,498 |
* | EPAM Systems Inc. | 381,645 | 113,478 |
* | Western Digital Corp. | 2,145,238 | 112,346 |
Seagate Technology Holdings plc | 1,287,084 | 109,878 | |
Teradyne Inc. | 1,011,295 | 109,746 | |
Jabil Inc. | 846,313 | 107,820 | |
* | Zebra Technologies Corp. Class A | 340,063 | 92,949 |
* | Trimble Inc. | 1,645,706 | 87,552 |
Gen Digital Inc. (XNGS) | 3,730,305 | 85,126 | |
* | Qorvo Inc. | 645,191 | 72,655 |
* | F5 Inc. | 395,457 | 70,779 |
Juniper Networks Inc. | 2,109,668 | 62,193 | |
76,503,822 | |||
Materials (2.4%) | |||
Linde plc | 3,210,361 | 1,318,527 | |
Sherwin-Williams Co. | 1,559,114 | 486,288 | |
Freeport-McMoRan Inc. | 9,494,304 | 404,173 | |
Air Products and Chemicals Inc. | 1,470,772 | 402,697 | |
Ecolab Inc. | 1,680,190 | 333,266 | |
Newmont Corp. | 7,630,516 | 315,827 | |
Nucor Corp. | 1,627,810 | 283,304 | |
Dow Inc. | 4,643,888 | 254,671 | |
PPG Industries Inc. | 1,561,147 | 233,470 | |
Corteva Inc. | 4,665,833 | 223,587 | |
DuPont de Nemours Inc. | 2,847,248 | 219,039 | |
Martin Marietta Materials Inc. | 409,241 | 204,174 | |
Vulcan Materials Co. | 879,828 | 199,730 | |
LyondellBasell Industries NV Class A | 1,696,686 | 161,321 | |
International Flavors & Fragrances Inc. | 1,689,482 | 136,797 | |
Ball Corp. | 2,085,768 | 119,973 | |
Steel Dynamics Inc. | 1,006,046 | 118,814 | |
1 | Albemarle Corp. | 776,945 | 112,253 |
Avery Dennison Corp. | 533,138 | 107,779 | |
Celanese Corp. | 662,203 | 102,887 | |
CF Industries Holdings Inc. | 1,263,514 | 100,449 | |
Packaging Corp. of America | 593,391 | 96,669 | |
Amcor plc | 9,566,522 | 92,221 | |
International Paper Co. | 2,295,362 | 82,977 | |
Mosaic Co. | 2,167,542 | 77,446 | |
Eastman Chemical Co. | 786,049 | 70,603 | |
Westrock Co. | 1,697,632 | 70,486 |
Shares | Market Value• ($000) | ||
FMC Corp. | 827,842 | 52,196 | |
6,381,624 | |||
Real Estate (2.5%) | |||
Prologis Inc. | 6,117,442 | 815,455 | |
American Tower Corp. | 3,086,362 | 666,284 | |
Equinix Inc. | 621,578 | 500,613 | |
Crown Castle Inc. | 2,873,399 | 330,987 | |
Welltower Inc. | 3,664,505 | 330,428 | |
Public Storage | 1,047,753 | 319,565 | |
Simon Property Group Inc. | 2,160,009 | 308,104 | |
Realty Income Corp. | 4,792,950 | 275,211 | |
Digital Realty Trust Inc. | 2,005,157 | 269,854 | |
* | CoStar Group Inc. | 2,703,977 | 236,300 |
Extra Space Storage Inc. | 1,398,840 | 224,276 | |
VICI Properties Inc. | 6,845,284 | 218,228 | |
* | CBRE Group Inc. Class A | 2,017,119 | 187,774 |
SBA Communications Corp. | 714,216 | 181,189 | |
AvalonBay Communities Inc. | 940,342 | 176,051 | |
Weyerhaeuser Co. | 4,833,330 | 168,055 | |
Equity Residential | 2,288,941 | 139,992 | |
Iron Mountain Inc. | 1,931,756 | 135,184 | |
Ventas Inc. | 2,662,815 | 132,715 | |
Alexandria Real Estate Equities Inc. | 1,035,501 | 131,270 | |
Invitation Homes Inc. | 3,808,832 | 129,919 | |
Essex Property Trust Inc. | 425,011 | 105,377 | |
Mid-America Apartment Communities Inc. | 772,595 | 103,883 | |
Kimco Realty Corp. | 4,411,729 | 94,014 | |
Host Hotels & Resorts Inc. | 4,675,708 | 91,036 | |
UDR Inc. | 2,003,731 | 76,723 | |
Regency Centers Corp. | 1,087,968 | 72,894 | |
Healthpeak Properties Inc. | 3,629,259 | 71,859 | |
Camden Property Trust | 708,117 | 70,309 | |
Boston Properties Inc. | 954,025 | 66,944 | |
Federal Realty Investment Trust | 484,987 | 49,978 | |
6,680,471 | |||
Utilities (2.4%) | |||
NextEra Energy Inc. | 13,583,765 | 825,078 | |
Southern Co. | 7,220,823 | 506,324 | |
Duke Energy Corp. | 5,102,773 | 495,173 | |
Sempra | 4,166,777 | 311,383 | |
American Electric Power Co. Inc. | 3,483,702 | 282,946 | |
Dominion Energy Inc. | 5,540,400 | 260,399 |
Shares | Market Value• ($000) | ||
PG&E Corp. | 14,125,110 | 254,676 | |
Constellation Energy Corp. | 2,114,600 | 247,176 | |
Exelon Corp. | 6,590,673 | 236,605 | |
Xcel Energy Inc. | 3,653,277 | 226,174 | |
Consolidated Edison Inc. | 2,285,668 | 207,927 | |
Public Service Enterprise Group Inc. | 3,298,723 | 201,717 | |
Edison International | 2,537,758 | 181,424 | |
WEC Energy Group Inc. | 2,088,571 | 175,795 | |
American Water Works Co. Inc. | 1,289,362 | 170,183 | |
DTE Energy Co. | 1,365,146 | 150,521 | |
Eversource Energy | 2,312,759 | 142,744 | |
Entergy Corp. | 1,400,229 | 141,689 | |
PPL Corp. | 4,880,540 | 132,263 | |
Ameren Corp. | 1,739,979 | 125,870 | |
FirstEnergy Corp. | 3,417,422 | 125,283 | |
CenterPoint Energy Inc. | 4,177,886 | 119,362 | |
Atmos Energy Corp. | 983,343 | 113,969 | |
CMS Energy Corp. | 1,931,928 | 112,187 | |
Alliant Energy Corp. | 1,687,545 | 86,571 | |
AES Corp. | 4,432,164 | 85,319 | |
Evergy Inc. | 1,515,521 | 79,110 | |
NRG Energy Inc. | 1,496,359 | 77,362 | |
NiSource Inc. | 2,740,889 | 72,771 | |
Pinnacle West Capital Corp. | 752,069 | 54,029 | |
6,202,030 | |||
Total Common Stocks (Cost $88,108,993) | 264,980,624 | ||
Temporary Cash Investments (0.1%) | |||
Money Market Fund (0.1%) | |||
2,3 | Vanguard Market Liquidity Fund, 5.435% (Cost $340,728) | 3,407,930 | 340,725 |
Total Investments (100.0%) (Cost $88,449,721) | 265,321,349 | ||
Other Assets and Liabilities—Net (0.0%) | 93,948 | ||
Net Assets (100%) | 265,415,297 | ||
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 $5,735,000. |
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 $6,142,000 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 2024 | 1,598 | 385,118 | (883) |
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. | 1/31/24 | GSI | 35,477 | (5.324) | 107 | — |
Goldman Sachs Group Inc. | 8/29/25 | BANA | 79,083 | (6.031) | 224 | — |
331 | — |
1 | Based on Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly. |
BANA—Bank of America, N.A. | |
GSI—Goldman Sachs International. |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $88,108,993) | 264,980,624 |
Affiliated Issuers (Cost $340,728) | 340,725 |
Total Investments in Securities | 265,321,349 |
Investment in Vanguard | 8,487 |
Cash | 5,931 |
Cash Collateral Pledged—Futures Contracts | 51,610 |
Receivables for Investment Securities Sold | 759,826 |
Receivables for Accrued Income | 250,804 |
Receivables for Capital Shares Issued | 270,839 |
Unrealized Appreciation—Over-the-Counter Swap Contracts | 331 |
Total Assets | 266,669,177 |
Liabilities | |
Payables for Investment Securities Purchased | 9,638 |
Collateral for Securities on Loan | 6,142 |
Payables for Capital Shares Redeemed | 1,232,070 |
Payables to Vanguard | 3,066 |
Variation Margin Payable—Futures Contracts | 2,964 |
Total Liabilities | 1,253,880 |
Net Assets | 265,415,297 |
1 Includes $5,735,000 of securities on loan. | |
At December 31, 2023, net assets consisted of: | |
Paid-in Capital | 87,756,721 |
Total Distributable Earnings (Loss) | 177,658,576 |
Net Assets | 265,415,297 |
Institutional Shares—Net Assets | |
Applicable to 285,521,280 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 112,346,935 |
Net Asset Value Per Share—Institutional Shares | $393.48 |
Institutional Plus Shares—Net Assets | |
Applicable to 389,021,453 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 153,068,362 |
Net Asset Value Per Share—Institutional Plus Shares | $393.47 |
Year Ended December 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 4,011,521 |
Interest2 | 32,809 |
Securities Lending—Net | 171 |
Total Income | 4,044,501 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 4,984 |
Management and Administrative—Institutional Shares | 30,505 |
Management and Administrative—Institutional Plus Shares | 19,716 |
Marketing and Distribution—Institutional Shares | 2,905 |
Marketing and Distribution—Institutional Plus Shares | 4,390 |
Custodian Fees | 917 |
Auditing Fees | 33 |
Shareholders’ Reports—Institutional Shares | 307 |
Shareholders’ Reports—Institutional Plus Shares | 614 |
Trustees’ Fees and Expenses | 147 |
Other Expenses | 39 |
Total Expenses | 64,557 |
Expenses Paid Indirectly | (60) |
Net Expenses | 64,497 |
Net Investment Income | 3,980,004 |
Realized Net Gain (Loss) | |
Investment Securities Sold2,3 | 9,518,156 |
Futures Contracts | 144,931 |
Swap Contracts | 9,930 |
Realized Net Gain (Loss) | 9,673,017 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 43,458,327 |
Futures Contracts | 18,459 |
Swap Contracts | 1,485 |
Change in Unrealized Appreciation (Depreciation) | 43,478,271 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 57,131,292 |
1 | Dividends are net of foreign withholding taxes of $1,070,000. |
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 $31,025,000, $167,000, $5,000, and ($115,000), respectively. Purchases and sales are for temporary cash investment purposes. |
3 | Includes $5,483,251,000 of net gain (loss) resulting from in-kind redemptions. |
Year Ended December 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 3,980,004 | 4,063,832 |
Realized Net Gain (Loss) | 9,673,017 | 14,449,875 |
Change in Unrealized Appreciation (Depreciation) | 43,478,271 | (73,064,052) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 57,131,292 | (54,550,345) |
Distributions | ||
Institutional Shares | (3,349,231) | (3,275,361) |
Institutional Plus Shares | (4,569,458) | (4,563,380) |
Total Distributions | (7,918,689) | (7,838,741) |
Capital Share Transactions | ||
Institutional Shares | (4,730,454) | (6,285,999) |
Institutional Plus Shares | (4,544,221) | (10,703,285) |
Net Increase (Decrease) from Capital Share Transactions | (9,274,675) | (16,989,284) |
Total Increase (Decrease) | 39,937,928 | (79,378,370) |
Net Assets | ||
Beginning of Period | 225,477,369 | 304,855,739 |
End of Period | 265,415,297 | 225,477,369 |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $321.63 | $405.79 | $331.47 | $290.23 | $227.55 |
Investment Operations | |||||
Net Investment Income1 | 5.793 | 5.515 | 5.048 | 5.261 | 5.203 |
Net Realized and Unrealized Gain (Loss) on Investments | 77.739 | (78.817) | 88.637 | 46.122 | 65.746 |
Total from Investment Operations | 83.532 | (73.302) | 93.685 | 51.383 | 70.949 |
Distributions | |||||
Dividends from Net Investment Income | (5.801) | (5.584) | (5.199) | (5.273) | (5.550) |
Distributions from Realized Capital Gains | (5.881) | (5.274) | (14.166) | (4.870) | (2.719) |
Total Distributions | (11.682) | (10.858) | (19.365) | (10.143) | (8.269) |
Net Asset Value, End of Period | $393.48 | $321.63 | $405.79 | $331.47 | $290.23 |
Total Return | 26.24% | -18.14% | 28.67% | 18.39% | 31.46% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $112,347 | $96,179 | $128,441 | $119,012 | $116,814 |
Ratio of Total Expenses to Average Net Assets | 0.035%2 | 0.035%2 | 0.035% | 0.035% | 0.035% |
Ratio of Net Investment Income to Average Net Assets | 1.62% | 1.58% | 1.35% | 1.83% | 1.98% |
Portfolio Turnover Rate3 | 3% | 3% | 3% | 4% | 4% |
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, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $321.62 | $405.80 | $331.48 | $290.25 | $227.57 |
Investment Operations | |||||
Net Investment Income1 | 5.844 | 5.563 | 5.117 | 5.310 | 5.252 |
Net Realized and Unrealized Gain (Loss) on Investments | 77.742 | (78.832) | 88.627 | 46.108 | 65.739 |
Total from Investment Operations | 83.586 | (73.269) | 93.744 | 51.418 | 70.991 |
Distributions | |||||
Dividends from Net Investment Income | (5.855) | (5.637) | (5.256) | (5.318) | (5.592) |
Distributions from Realized Capital Gains | (5.881) | (5.274) | (14.168) | (4.870) | (2.719) |
Total Distributions | (11.736) | (10.911) | (19.424) | (10.188) | (8.311) |
Net Asset Value, End of Period | $393.47 | $321.62 | $405.80 | $331.48 | $290.25 |
Total Return | 26.26% | -18.13% | 28.69% | 18.41% | 31.48% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $153,068 | $129,299 | $176,415 | $142,174 | $125,359 |
Ratio of Total Expenses to Average Net Assets | 0.02%2 | 0.02%2 | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.63% | 1.60% | 1.37% | 1.84% | 1.99% |
Portfolio Turnover Rate3 | 3% | 3% | 3% | 4% | 4% |
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, 2023, custodian fee offset arrangements reduced the fund’s expenses by $60,000 (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 | 264,980,624 | — | — | 264,980,624 |
Temporary Cash Investments | 340,725 | — | — | 340,725 |
Total | 265,321,349 | — | — | 265,321,349 |
Derivative Financial Instruments | ||||
Assets | ||||
Swap Contracts | — | 331 | — | 331 |
Liabilities | ||||
Futures Contracts1 | 883 | — | — | 883 |
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 | 5,736,717 |
Total Distributable Earnings (Loss) | (5,736,717) |
Amount ($000) | |
Undistributed Ordinary Income | 115,002 |
Undistributed Long-Term Gains | 744,288 |
Net Unrealized Gains (Losses) | 176,799,286 |
Capital Loss Carryforwards | — |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 177,658,576 |
Year Ended December 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 3,963,502 | 4,113,594 |
Long-Term Capital Gains | 3,955,187 | 3,725,147 |
Total | 7,918,689 | 7,838,741 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 88,522,064 |
Gross Unrealized Appreciation | 181,833,505 |
Gross Unrealized Depreciation | (5,034,219) |
Net Unrealized Appreciation (Depreciation) | 176,799,286 |
F. | During the year ended December 31, 2023, the fund purchased $7,228,695,000 of investment securities and sold $19,486,456,000 of investment securities, other than temporary cash investments. Purchases and sales include $225,895,000 and $7,654,252,000, 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, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 12,749,427 | 35,675 | 12,505,429 | 35,741 | |
Issued in Lieu of Cash Distributions | 3,061,340 | 8,289 | 3,010,907 | 8,978 | |
Redeemed | (20,541,221) | (57,477) | (21,802,335) | (62,209) | |
Net Increase (Decrease)—Institutional Shares | (4,730,454) | (13,513) | (6,285,999) | (17,490) |
Year Ended December 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Plus Shares | |||||
Issued | 18,059,339 | 50,486 | 22,460,474 | 63,934 | |
Issued in Lieu of Cash Distributions | 4,394,955 | 11,898 | 4,382,443 | 13,060 | |
Redeemed | (26,998,515) | (75,384) | (37,546,202) | (109,705) | |
Net Increase (Decrease)—Institutional Plus Shares | (4,544,221) | (13,000) | (10,703,285) | (32,711) |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to December 31, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
February 15, 2024
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 |
• | Vanguard Institutional Total Stock Market Index Fund returned 26.05% for both its Institutional Shares and its Institutional Plus Shares for the 12 months ended December 31, 2023. |
• | The fourth quarter of 2023 was a volatile period for the financial markets. Stocks and bonds continued to lose ground early on amid concerns that interest rates might remain elevated for an extended period. They went on to post strong gains, however, as inflation remained on a downward trend and economic growth softened, leading the markets to anticipate that policy rates had reached their peak and that cuts were likely not too far down the road. |
• | 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 index’s 11 sectors recorded positive returns for the 12 months. Consumer discretionary, consumer staples, and energy stocks helped performance the most. |
• | For the 10 years ended December 31, the fund posted average annual returns of 11.47% for Institutional Shares and 11.48% for Institutional Plus Shares. |
Average Annual Total Returns Periods Ended December 31, 2023 | |||
One Year | Three Years | Five Years | |
Stocks | |||
Russell 1000 Index (Large-caps) | 26.53% | 8.97% | 15.52% |
Russell 2000 Index (Small-caps) | 16.93 | 2.22 | 9.97 |
Russell 3000 Index (Broad U.S. market) | 25.96 | 8.54 | 15.16 |
FTSE All-World ex US Index (International) | 15.82 | 1.98 | 7.52 |
Bonds | |||
Bloomberg U.S. Aggregate Float Adjusted Index (Broad taxable market) | 5.60% | -3.33% | 1.17% |
Bloomberg Municipal Bond Index (Broad tax-exempt market) | 6.40 | -0.40 | 2.25 |
FTSE Three-Month U.S. Treasury Bill Index | 5.26 | 2.24 | 1.91 |
CPI | |||
Consumer Price Index | 3.35% | 5.60% | 4.07% |
• | 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, 2023 | |||
Beginning Account Value 6/30/2023 | Ending Account Value 12/31/2023 | Expenses Paid During Period | |
Based on Actual Fund Return | |||
Institutional Total Stock Market Index Fund | |||
Institutional Shares | $1,000.00 | $1,084.70 | $0.16 |
Institutional Plus Shares | 1,000.00 | 1,084.90 | 0.11 |
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, 2023 | |||||
One Year | Five Years | Ten Years | Final Value of a $5,000,000 Investment | ||
Institutional Total Stock Market Index Fund Institutional Shares | 26.05% | 15.11% | 11.47% | $14,803,778 | |
CRSP U.S. Total Market Index | 25.98 | 15.08 | 11.44 | 14,772,640 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 26.06 | 15.05 | 11.40 | 14,710,990 |
One Year | Five Years | Ten Years | Final Value of a $100,000,000 Investment | ||
Institutional Total Stock Market Index Fund Institutional Plus Shares | 26.05% | 15.11% | 11.48% | $296,382,590 | |
CRSP U.S. Total Market Index | 25.98 | 15.08 | 11.44 | 295,452,800 | |
Dow Jones U.S. Total Stock Market Float Adjusted Index | 26.06 | 15.05 | 11.40 | 294,219,800 |
Basic Materials | 2.0% |
Consumer Discretionary | 14.5 |
Consumer Staples | 4.7 |
Energy | 4.1 |
Financials | 10.8 |
Health Care | 12.0 |
Industrials | 13.1 |
Real Estate | 3.0 |
Technology | 31.1 |
Telecommunications | 2.1 |
Utilities | 2.6 |
Other | 0.0 |
Shares | Market Value• ($000) | ||
Common Stocks (99.5%) | |||
Basic Materials (2.0%) | |||
Linde plc | 325,014 | 133,487 | |
Freeport-McMoRan Inc. | 963,179 | 41,003 | |
Air Products and Chemicals Inc. | 148,653 | 40,701 | |
Ecolab Inc. | 171,817 | 34,080 | |
Newmont Corp. | 773,149 | 32,001 | |
Nucor Corp. | 164,878 | 28,695 | |
Dow Inc. | 470,300 | 25,791 | |
Fastenal Co. | 383,778 | 24,857 | |
LyondellBasell Industries NV Class A | 174,214 | 16,564 | |
International Flavors & Fragrances Inc. | 171,177 | 13,860 | |
Steel Dynamics Inc. | 103,195 | 12,187 | |
Albemarle Corp. | 78,301 | 11,313 | |
Celanese Corp. | 72,668 | 11,290 | |
Avery Dennison Corp. | 53,724 | 10,861 | |
Reliance Steel & Aluminum Co. | 38,422 | 10,746 | |
CF Industries Holdings Inc. | 128,868 | 10,245 | |
International Paper Co. | 233,731 | 8,449 | |
Mosaic Co. | 220,060 | 7,863 | |
Eastman Chemical Co. | 80,169 | 7,201 | |
* | Cleveland-Cliffs Inc. | 340,047 | 6,944 |
United States Steel Corp. | 133,266 | 6,483 | |
* | RBC Bearings Inc. | 19,299 | 5,498 |
Royal Gold Inc. | 43,999 | 5,322 | |
FMC Corp. | 84,128 | 5,304 | |
UFP Industries Inc. | 39,937 | 5,014 | |
Olin Corp. | 83,262 | 4,492 | |
Hexcel Corp. | 56,664 | 4,179 | |
Alcoa Corp. | 118,127 | 4,016 | |
Commercial Metals Co. | 77,634 | 3,885 | |
Element Solutions Inc. | 155,881 | 3,607 | |
Timken Co. | 43,168 | 3,460 | |
Boise Cascade Co. | 26,630 | 3,445 | |
Mueller Industries Inc. | 73,000 | 3,442 | |
* | Valvoline Inc. | 87,607 | 3,292 |
Balchem Corp. | 22,077 | 3,284 | |
Chemours Co. | 99,070 | 3,125 | |
Cabot Corp. | 36,935 | 3,084 |
Shares | Market Value• ($000) | ||
Westlake Corp. | 21,298 | 2,981 | |
Huntsman Corp. | 114,536 | 2,878 | |
Ashland Inc. | 31,089 | 2,621 | |
NewMarket Corp. | 4,687 | 2,558 | |
Avient Corp. | 61,461 | 2,555 | |
Carpenter Technology Corp. | 31,069 | 2,200 | |
* | Livent Corp. | 118,775 | 2,136 |
Innospec Inc. | 16,731 | 2,062 | |
Quaker Chemical Corp. | 8,827 | 1,884 | |
Sensient Technologies Corp. | 28,345 | 1,871 | |
Hecla Mining Co. | 388,152 | 1,867 | |
* | MP Materials Corp. | 92,391 | 1,834 |
Materion Corp. | 13,913 | 1,810 | |
Scotts Miracle-Gro Co. | 28,203 | 1,798 | |
* | Uranium Energy Corp. | 255,883 | 1,638 |
Minerals Technologies Inc. | 21,912 | 1,563 | |
Stepan Co. | 13,464 | 1,273 | |
Sylvamo Corp. | 22,462 | 1,103 | |
Tronox Holdings plc | 75,701 | 1,072 | |
* | Ingevity Corp. | 21,949 | 1,036 |
Hawkins Inc. | 13,562 | 955 | |
* | Coeur Mining Inc. | 242,472 | 790 |
Kaiser Aluminum Corp. | 10,346 | 737 | |
Koppers Holdings Inc. | 13,873 | 711 | |
* | TimkenSteel Corp. | 30,310 | 711 |
*,1 | Energy Fuels Inc. | 98,692 | 710 |
* | Ecovyst Inc. | 70,637 | 690 |
Ryerson Holding Corp. | 18,905 | 656 | |
Compass Minerals International Inc. | 25,886 | 655 | |
* | Worthington Steel Inc. | 22,188 | 623 |
* | US Silica Holdings Inc. | 49,324 | 558 |
Mativ Holdings Inc. | 36,224 | 555 | |
AdvanSix Inc. | 18,107 | 542 | |
Schnitzer Steel Industries Inc. Class A | 15,798 | 476 | |
*,1 | LanzaTech Global Inc. | 91,249 | 459 |
Haynes International Inc. | 8,020 | 458 | |
* | Clearwater Paper Corp. | 12,189 | 440 |
* | Century Aluminum Co. | 35,645 | 433 |
Olympic Steel Inc. | 5,760 | 384 |
Shares | Market Value• ($000) | ||
* | Piedmont Lithium Inc. | 13,023 | 368 |
* | LSB Industries Inc. | 38,662 | 360 |
* | Ur-Energy Inc. | 192,102 | 296 |
GrafTech International Ltd. | 130,921 | 287 | |
* | Northwest Pipe Co. | 7,200 | 218 |
American Vanguard Corp. | 18,120 | 199 | |
* | Rayonier Advanced Materials Inc. | 44,937 | 182 |
* | American Battery Technology Co. | 33,615 | 158 |
Omega Flex Inc. | 2,211 | 156 | |
* | Intrepid Potash Inc. | 5,697 | 136 |
* | Universal Stainless & Alloy Products Inc. | 6,638 | 133 |
* | Alto Ingredients Inc. | 44,278 | 118 |
FutureFuel Corp. | 19,183 | 117 | |
Tredegar Corp. | 21,461 | 116 | |
Friedman Industries Inc. | 7,446 | 115 | |
* | Contango ORE Inc. | 5,757 | 104 |
* | NN Inc. | 25,826 | 103 |
Northern Technologies International Corp. | 8,108 | 96 | |
Eastern Co. | 4,309 | 95 | |
* | Dakota Gold Corp. | 34,870 | 91 |
* | Culp Inc. | 10,134 | 59 |
* | Unifi Inc. | 8,861 | 59 |
* | Glatfelter Corp. | 29,576 | 57 |
* | Origin Materials Inc. | 68,152 | 57 |
* | Perma-Pipe International Holdings Inc. | 5,795 | 45 |
* | Ampco-Pittsburgh Corp. | 12,799 | 35 |
* | US Gold Corp. | 8,013 | 34 |
* | 5e Advanced Materials Inc. | 21,439 | 30 |
*,1 | Hycroft Mining Holding Corp. | 11,073 | 27 |
* | CPS Technologies Corp. | 9,761 | 23 |
* | Gold Resource Corp. | 48,534 | 18 |
* | Ascent Industries Co. | 1,863 | 18 |
United-Guardian Inc. | 2,129 | 15 | |
* | NioCorp Developments Ltd. | 997 | 3 |
613,281 | |||
Consumer Discretionary (14.4%) | |||
* | Amazon.com Inc. | 6,234,336 | 947,245 |
* | Tesla Inc. | 1,811,420 | 450,102 |
Home Depot Inc. | 666,812 | 231,084 | |
Costco Wholesale Corp. | 296,683 | 195,835 | |
Walmart Inc. | 992,106 | 156,406 | |
McDonald's Corp. | 486,123 | 144,140 | |
* | Netflix Inc. | 293,451 | 142,875 |
Walt Disney Co. | 1,227,483 | 110,829 | |
NIKE Inc. Class B | 820,532 | 89,085 | |
Lowe's Cos. Inc. | 385,252 | 85,738 | |
* | Booking Holdings Inc. | 23,384 | 82,948 |
* | Uber Technologies Inc. | 1,310,629 | 80,695 |
Starbucks Corp. | 762,020 | 73,162 | |
TJX Cos. Inc. | 766,308 | 71,887 | |
Target Corp. | 309,271 | 44,046 |
Shares | Market Value• ($000) | ||
* | Chipotle Mexican Grill Inc. | 18,406 | 42,094 |
* | Lululemon Athletica Inc. | 77,284 | 39,515 |
Marriott International Inc. Class A | 167,502 | 37,773 | |
* | O'Reilly Automotive Inc. | 39,654 | 37,674 |
* | Airbnb Inc. Class A | 247,865 | 33,744 |
General Motors Co. | 919,316 | 33,022 | |
Ford Motor Co. | 2,634,886 | 32,119 | |
Ross Stores Inc. | 227,082 | 31,426 | |
Hilton Worldwide Holdings Inc. | 172,280 | 31,370 | |
* | AutoZone Inc. | 11,821 | 30,564 |
DR Horton Inc. | 189,876 | 28,857 | |
* | Copart Inc. | 576,795 | 28,263 |
Electronic Arts Inc. | 180,400 | 24,681 | |
Yum! Brands Inc. | 187,398 | 24,485 | |
Lennar Corp. Class A | 158,596 | 23,637 | |
Estee Lauder Cos. Inc. Class A | 148,359 | 21,697 | |
* | Trade Desk Inc. Class A | 298,880 | 21,507 |
Dollar General Corp. | 147,530 | 20,057 | |
* | Dollar Tree Inc. | 140,079 | 19,898 |
* | Royal Caribbean Cruises Ltd. | 145,733 | 18,871 |
* | Take-Two Interactive Software Inc. | 113,972 | 18,344 |
Delta Air Lines Inc. | 432,288 | 17,391 | |
* | Aptiv plc | 188,939 | 16,952 |
* | Warner Bros Discovery Inc. | 1,468,379 | 16,710 |
* | Ulta Beauty Inc. | 32,952 | 16,146 |
Tractor Supply Co. | 72,734 | 15,640 | |
eBay Inc. | 347,746 | 15,169 | |
* | Roblox Corp. Class A | 327,315 | 14,965 |
PulteGroup Inc. | 144,203 | 14,885 | |
* | NVR Inc. | 2,021 | 14,148 |
* | Expedia Group Inc. | 89,400 | 13,570 |
Garmin Ltd. | 103,405 | 13,292 | |
Darden Restaurants Inc. | 80,625 | 13,247 | |
Genuine Parts Co. | 94,521 | 13,091 | |
Las Vegas Sands Corp. | 256,040 | 12,600 | |
* | Carnival Corp. | 674,153 | 12,499 |
* | Rivian Automotive Inc. Class A | 512,466 | 12,022 |
* | Deckers Outdoor Corp. | 17,251 | 11,531 |
Southwest Airlines Co. | 397,549 | 11,481 | |
Omnicom Group Inc. | 132,188 | 11,436 | |
Best Buy Co. Inc. | 131,305 | 10,279 | |
* | Live Nation Entertainment Inc. | 107,749 | 10,085 |
* | DraftKings Inc. Class A | 281,790 | 9,933 |
Pool Corp. | 24,810 | 9,892 | |
Domino's Pizza Inc. | 23,457 | 9,670 | |
* | United Airlines Holdings Inc. | 218,321 | 9,008 |
* | Liberty Media Corp. - Liberty Formula One Class C | 141,386 | 8,926 |
Shares | Market Value• ($000) | ||
Williams-Sonoma Inc. | 43,148 | 8,706 | |
Rollins Inc. | 196,306 | 8,573 | |
LKQ Corp. | 177,789 | 8,497 | |
Interpublic Group of Cos. Inc. | 257,069 | 8,391 | |
* | Burlington Stores Inc. | 43,124 | 8,387 |
RB Global Inc. (XTSE) | 122,172 | 8,172 | |
* | CarMax Inc. | 106,247 | 8,153 |
* | MGM Resorts International | 172,259 | 7,697 |
* | Floor & Decor Holdings Inc. Class A | 68,134 | 7,601 |
* | Five Below Inc. | 35,593 | 7,587 |
News Corp. Class A | 301,034 | 7,390 | |
Toll Brothers Inc. | 71,147 | 7,313 | |
Bath & Body Works Inc. | 152,778 | 6,594 | |
* | Etsy Inc. | 80,559 | 6,529 |
Service Corp. International | 94,545 | 6,472 | |
* | Caesars Entertainment Inc. | 137,151 | 6,430 |
Churchill Downs Inc. | 45,160 | 6,093 | |
* | American Airlines Group Inc. | 441,290 | 6,063 |
Lithia Motors Inc. | 18,333 | 6,037 | |
* | BJ's Wholesale Club Holdings Inc. | 89,881 | 5,991 |
Wynn Resorts Ltd. | 64,581 | 5,884 | |
* | Norwegian Cruise Line Holdings Ltd. | 287,209 | 5,756 |
BorgWarner Inc. (XNYS) | 157,756 | 5,656 | |
Tapestry Inc. | 152,760 | 5,623 | |
Tempur Sealy International Inc. | 109,978 | 5,606 | |
* | Skechers USA Inc. Class A | 88,560 | 5,521 |
Lear Corp. | 39,084 | 5,519 | |
Texas Roadhouse Inc. | 44,855 | 5,483 | |
Vail Resorts Inc. | 25,593 | 5,463 | |
Dick's Sporting Goods Inc. | 37,159 | 5,461 | |
* | Duolingo Inc. | 22,860 | 5,186 |
Fox Corp. Class A | 172,763 | 5,126 | |
Wingstop Inc. | 19,953 | 5,120 | |
Gentex Corp. | 156,637 | 5,116 | |
* | e.l.f. Beauty Inc. | 35,263 | 5,090 |
New York Times Co. Class A | 103,109 | 5,051 | |
U-Haul Holding Co. | 71,294 | 5,022 | |
* | Light & Wonder Inc. | 60,325 | 4,953 |
PVH Corp. | 40,494 | 4,945 | |
1 | Paramount Global Class B | 331,835 | 4,908 |
* | SiteOne Landscape Supply Inc. | 30,114 | 4,894 |
Aramark | 173,316 | 4,870 | |
H&R Block Inc. | 97,458 | 4,714 | |
Murphy USA Inc. | 12,769 | 4,553 | |
Hasbro Inc. | 88,544 | 4,521 | |
Whirlpool Corp. | 36,802 | 4,481 | |
* | Mattel Inc. | 235,929 | 4,454 |
Shares | Market Value• ($000) | ||
Wyndham Hotels & Resorts Inc. | 55,377 | 4,453 | |
VF Corp. | 232,143 | 4,364 | |
Meritage Homes Corp. | 24,627 | 4,290 | |
* | Planet Fitness Inc. Class A | 56,346 | 4,113 |
Thor Industries Inc. | 34,158 | 4,039 | |
* | Capri Holdings Ltd. | 76,720 | 3,854 |
Hyatt Hotels Corp. Class A | 29,184 | 3,806 | |
Macy's Inc. | 183,666 | 3,695 | |
* | Bright Horizons Family Solutions Inc. | 39,186 | 3,693 |
* | Taylor Morrison Home Corp. | 69,016 | 3,682 |
* | Carvana Co. | 68,920 | 3,649 |
* | Wayfair Inc. Class A | 59,009 | 3,641 |
* | Crocs Inc. | 38,681 | 3,613 |
* | Liberty Media Corp. - Liberty SiriusXM Class C | 121,390 | 3,494 |
TKO Group Holdings Inc. | 42,261 | 3,448 | |
Nexstar Media Group Inc. | 21,939 | 3,439 | |
Ralph Lauren Corp. | 23,768 | 3,427 | |
Polaris Inc. | 35,329 | 3,348 | |
* | Alaska Air Group Inc. | 85,613 | 3,345 |
* | Lyft Inc. Class A | 221,955 | 3,327 |
Academy Sports & Outdoors Inc. | 50,341 | 3,322 | |
* | AutoNation Inc. | 22,091 | 3,318 |
* | Coty Inc. Class A | 267,074 | 3,317 |
* | Ollie's Bargain Outlet Holdings Inc. | 41,616 | 3,158 |
Signet Jewelers Ltd. | 29,152 | 3,127 | |
Harley-Davidson Inc. | 84,747 | 3,122 | |
*,1 | GameStop Corp. Class A | 176,467 | 3,093 |
* | Asbury Automotive Group Inc. | 13,582 | 3,056 |
Warner Music Group Corp. Class A | 83,931 | 3,004 | |
KB Home | 47,952 | 2,995 | |
* | YETI Holdings Inc. | 57,772 | 2,991 |
Boyd Gaming Corp. | 45,793 | 2,867 | |
* | RH | 9,793 | 2,854 |
* | Abercrombie & Fitch Co. Class A | 32,027 | 2,825 |
* | Goodyear Tire & Rubber Co. | 192,633 | 2,758 |
* | Penn Entertainment Inc. | 103,252 | 2,687 |
* | Grand Canyon Education Inc. | 20,194 | 2,666 |
Group 1 Automotive Inc. | 8,702 | 2,652 | |
*,1 | Lucid Group Inc. | 624,873 | 2,631 |
Gap Inc. | 125,006 | 2,614 | |
American Eagle Outfitters Inc. | 121,829 | 2,578 | |
* | Skyline Champion Corp. | 34,325 | 2,549 |
Shares | Market Value• ($000) | ||
Advance Auto Parts Inc. | 39,100 | 2,386 | |
* | M/I Homes Inc. | 17,187 | 2,367 |
* | Tri Pointe Homes Inc. | 66,693 | 2,361 |
Kontoor Brands Inc. | 37,688 | 2,352 | |
Rush Enterprises Inc. Class A | 46,166 | 2,322 | |
* | Visteon Corp. | 18,420 | 2,301 |
Lennar Corp. Class B | 17,145 | 2,298 | |
Wendy's Co. | 116,838 | 2,276 | |
* | Madison Square Garden Sports Corp. | 12,503 | 2,273 |
Leggett & Platt Inc. | 86,511 | 2,264 | |
Newell Brands Inc. | 260,323 | 2,260 | |
Fox Corp. Class B | 80,092 | 2,215 | |
Endeavor Group Holdings Inc. Class A | 91,868 | 2,180 | |
Kohl's Corp. | 75,429 | 2,163 | |
Avis Budget Group Inc. | 12,081 | 2,141 | |
Penske Automotive Group Inc. | 13,328 | 2,139 | |
1 | Sirius XM Holdings Inc. | 389,372 | 2,130 |
MDC Holdings Inc. | 38,058 | 2,103 | |
Choice Hotels International Inc. | 18,328 | 2,077 | |
LCI Industries | 16,452 | 2,068 | |
* | Hilton Grand Vacations Inc. | 51,131 | 2,054 |
TEGNA Inc. | 133,270 | 2,039 | |
Foot Locker Inc. | 63,724 | 1,985 | |
Steven Madden Ltd. | 46,782 | 1,965 | |
* | Helen of Troy Ltd. | 16,213 | 1,959 |
* | Fox Factory Holding Corp. | 27,821 | 1,877 |
* | frontdoor Inc. | 53,069 | 1,869 |
Marriott Vacations Worldwide Corp. | 21,798 | 1,850 | |
* | Cavco Industries Inc. | 5,327 | 1,846 |
Travel & Leisure Co. | 46,877 | 1,832 | |
Red Rock Resorts Inc. Class A | 34,103 | 1,819 | |
* | Shake Shack Inc. Class A | 24,315 | 1,802 |
Carter's Inc. | 24,014 | 1,798 | |
Century Communities Inc. | 19,473 | 1,775 | |
Columbia Sportswear Co. | 22,289 | 1,773 | |
* | LGI Homes Inc. | 13,277 | 1,768 |
Inter Parfums Inc. | 11,848 | 1,706 | |
* | Stride Inc. | 28,088 | 1,668 |
Papa John's International Inc. | 21,573 | 1,645 | |
* | Chewy Inc. Class A | 69,227 | 1,636 |
Graham Holdings Co. Class B | 2,302 | 1,603 | |
Bloomin' Brands Inc. | 56,874 | 1,601 | |
* | Boot Barn Holdings Inc. | 20,661 | 1,586 |
* | Urban Outfitters Inc. | 43,743 | 1,561 |
* | Dorman Products Inc. | 18,497 | 1,543 |
* | TripAdvisor Inc. | 68,985 | 1,485 |
* | Adtalem Global Education Inc. | 25,056 | 1,477 |
Shares | Market Value• ($000) | ||
* | PowerSchool Holdings Inc. Class A | 62,347 | 1,469 |
* | QuantumScape Corp. | 209,597 | 1,457 |
Winnebago Industries Inc. | 19,890 | 1,450 | |
* | Liberty Media Corp. - Liberty SiriusXM Class A | 49,253 | 1,416 |
* | Victoria's Secret & Co. | 53,300 | 1,415 |
* | Sonos Inc. | 82,428 | 1,413 |
* | SkyWest Inc. | 26,811 | 1,400 |
Strategic Education Inc. | 14,933 | 1,379 | |
* | ACV Auctions Inc. Class A | 90,013 | 1,364 |
* | Lions Gate Entertainment Corp. Class B | 132,810 | 1,353 |
* | Coursera Inc. | 68,820 | 1,333 |
* | Under Armour Inc. Class C | 159,105 | 1,329 |
* | Topgolf Callaway Brands Corp. | 92,471 | 1,326 |
MillerKnoll Inc. | 49,480 | 1,320 | |
* | Peloton Interactive Inc. Class A | 214,407 | 1,306 |
Acushnet Holdings Corp. | 20,601 | 1,301 | |
* | Atlanta Braves Holdings Inc. Class C | 32,416 | 1,283 |
HNI Corp. | 30,591 | 1,280 | |
Worthington Industries Inc. | 22,188 | 1,277 | |
Dana Inc. | 87,173 | 1,274 | |
* | Brinker International Inc. | 29,436 | 1,271 |
Laureate Education Inc. | 91,483 | 1,254 | |
* | SeaWorld Entertainment Inc. | 23,589 | 1,246 |
* | Liberty Media Corp. - Liberty Live Class C | 33,131 | 1,239 |
PriceSmart Inc. | 16,310 | 1,236 | |
* | ODP Corp. | 21,735 | 1,224 |
* | Dave & Buster's Entertainment Inc. | 22,321 | 1,202 |
* | JetBlue Airways Corp. | 215,814 | 1,198 |
* | Six Flags Entertainment Corp. | 47,710 | 1,197 |
* | Central Garden & Pet Co. Class A | 27,139 | 1,195 |
Nordstrom Inc. | 63,848 | 1,178 | |
Spirit Airlines Inc. | 71,316 | 1,169 | |
* | Gentherm Inc. | 22,060 | 1,155 |
Cracker Barrel Old Country Store Inc. | 14,823 | 1,143 | |
Jack in the Box Inc. | 13,777 | 1,125 | |
* | OPENLANE Inc. | 75,934 | 1,125 |
* | Sabre Corp. | 252,203 | 1,110 |
* | Green Brick Partners Inc. | 21,024 | 1,092 |
* | Knowles Corp. | 60,853 | 1,090 |
Cheesecake Factory Inc. | 30,958 | 1,084 |
Shares | Market Value• ($000) | ||
* | Dutch Bros Inc. Class A | 34,045 | 1,078 |
La-Z-Boy Inc. | 28,402 | 1,049 | |
* | Hanesbrands Inc. | 234,173 | 1,044 |
* | National Vision Holdings Inc. | 49,678 | 1,040 |
Upbound Group Inc. | 30,229 | 1,027 | |
* | Vista Outdoor Inc. | 34,552 | 1,022 |
Levi Strauss & Co. Class A | 59,902 | 991 | |
* | Cinemark Holdings Inc. | 70,182 | 989 |
Oxford Industries Inc. | 9,862 | 986 | |
* | PROG Holdings Inc. | 31,363 | 969 |
* | Udemy Inc. | 64,990 | 957 |
Phinia Inc. | 31,455 | 953 | |
* | Sally Beauty Holdings Inc. | 71,509 | 950 |
Buckle Inc. | 19,649 | 934 | |
* | G-III Apparel Group Ltd. | 27,065 | 920 |
John Wiley & Sons Inc. Class A | 27,867 | 884 | |
* | Rover Group Inc. | 80,711 | 878 |
Allegiant Travel Co. | 10,439 | 862 | |
* | Beyond Inc. | 31,116 | 862 |
1 | Dillard's Inc. Class A | 2,114 | 853 |
* | Liberty Media Corp. - Liberty Formula One Class A | 14,625 | 848 |
* | Under Armour Inc. Class A | 95,924 | 843 |
Steelcase Inc. Class A | 62,262 | 842 | |
* | Integral Ad Science Holding Corp. | 58,154 | 837 |
* | Hertz Global Holdings Inc. | 80,428 | 836 |
* | AMC Entertainment Holdings Inc. Class A | 134,758 | 825 |
* | Leslie's Inc. | 117,351 | 811 |
1 | Krispy Kreme Inc. | 53,463 | 807 |
* | Chegg Inc. | 70,888 | 805 |
Winmark Corp. | 1,916 | 800 | |
* | Malibu Boats Inc. Class A | 14,262 | 782 |
* | Cars.com Inc. | 39,869 | 756 |
News Corp. Class B | 29,413 | 756 | |
* | Madison Square Garden Entertainment Corp. | 23,602 | 750 |
Matthews International Corp. Class A | 20,116 | 737 | |
* | XPEL Inc. | 13,474 | 726 |
* | Life Time Group Holdings Inc. | 47,994 | 724 |
* | Beazer Homes USA Inc. | 20,902 | 706 |
Camping World Holdings Inc. Class A | 26,449 | 695 | |
Perdoceo Education Corp. | 39,574 | 695 | |
* | American Axle & Manufacturing Holdings Inc. | 75,117 | 662 |
Caleres Inc. | 21,342 | 656 |
Shares | Market Value• ($000) | ||
* | Sphere Entertainment Co. | 19,139 | 650 |
* | iRobot Corp. | 16,643 | 644 |
* | Figs Inc. Class A | 92,472 | 643 |
Monarch Casino & Resort Inc. | 9,218 | 637 | |
* | Everi Holdings Inc. | 55,545 | 626 |
Monro Inc. | 21,155 | 621 | |
* | Chico's FAS Inc. | 81,758 | 620 |
* | Sweetgreen Inc. Class A | 54,727 | 618 |
Scholastic Corp. | 16,286 | 614 | |
Golden Entertainment Inc. | 14,978 | 598 | |
*,1 | Luminar Technologies Inc. | 168,978 | 569 |
Sturm Ruger & Co. Inc. | 12,500 | 568 | |
* | Mister Car Wash Inc. | 65,586 | 567 |
* | Driven Brands Holdings Inc. | ��� 39,223 | 559 |
* | BJ's Restaurants Inc. | 15,369 | 553 |
* | Arlo Technologies Inc. | 56,712 | 540 |
Hibbett Inc. | 7,283 | 525 | |
Standard Motor Products Inc. | 13,104 | 522 | |
Interface Inc. | 41,128 | 519 | |
* | Portillo's Inc. Class A | 32,325 | 515 |
Guess? Inc. | 22,115 | 510 | |
Dine Brands Global Inc. | 10,255 | 509 | |
* | Hovnanian Enterprises Inc. Class A | 3,253 | 506 |
Ethan Allen Interiors Inc. | 15,402 | 492 | |
*,1 | Cava Group Inc. | 11,397 | 490 |
Sonic Automotive Inc. Class A | 8,630 | 485 | |
Wolverine World Wide Inc. | 53,188 | 473 | |
* | WW International Inc. | 54,055 | 473 |
* | Liberty Media Corp. - Liberty Live Class A | 12,800 | 468 |
* | Thryv Holdings Inc. | 22,895 | 466 |
Gray Television Inc. | 51,919 | 465 | |
* | MarineMax Inc. | 11,713 | 456 |
* | Dream Finders Homes Inc. Class A | 12,815 | 455 |
* | Revolve Group Inc. | 26,633 | 442 |
* | AMC Networks Inc. Class A | 23,493 | 441 |
* | Hawaiian Holdings Inc. | 30,994 | 440 |
Smith & Wesson Brands Inc. | 32,321 | 438 | |
* | Sun Country Airlines Holdings Inc. | 27,708 | 436 |
* | Viad Corp. | 12,029 | 435 |
* | Instructure Holdings Inc. | 15,830 | 428 |
* | Denny's Corp. | 39,034 | 425 |
* | QuinStreet Inc. | 33,170 | 425 |
* | Accel Entertainment Inc. | 40,447 | 415 |
Shares | Market Value• ($000) | ||
A-Mark Precious Metals Inc. | 13,688 | 414 | |
Bluegreen Vacations Holding Corp. | 5,516 | 414 | |
* | Clean Energy Fuels Corp. | 106,924 | 410 |
* | Chuy's Holdings Inc. | 10,658 | 407 |
RCI Hospitality Holdings Inc. | 5,747 | 381 | |
* | Vizio Holding Corp. Class A | 49,371 | 380 |
* | Corsair Gaming Inc. | 26,195 | 369 |
* | Stagwell Inc. | 55,124 | 365 |
Shoe Carnival Inc. | 11,853 | 358 | |
* | Stoneridge Inc. | 17,614 | 345 |
* | Clear Channel Outdoor Holdings Inc. | 185,732 | 338 |
* | EW Scripps Co. Class A | 41,692 | 333 |
Sinclair Inc. | 25,561 | 333 | |
* | Daily Journal Corp. | 973 | 332 |
*,1 | Wheels Up Experience Inc. | 94,617 | 325 |
Movado Group Inc. | 10,544 | 318 | |
Arko Corp. | 38,172 | 315 | |
* | Genesco Inc. | 8,794 | 310 |
* | Bally's Corp. | 21,317 | 297 |
* | GoPro Inc. Class A | 85,360 | 296 |
* | Universal Technical Institute Inc. | 23,386 | 293 |
Haverty Furniture Cos. Inc. | 8,222 | 292 | |
* | First Watch Restaurant Group Inc. | 14,373 | 289 |
*,1 | Savers Value Village Inc. | 16,466 | 286 |
* | MasterCraft Boat Holdings Inc. | 12,305 | 279 |
* | Kura Sushi USA Inc. Class A | 3,583 | 272 |
Designer Brands Inc. Class A | 30,187 | 267 | |
Marcus Corp. | 18,310 | 267 | |
* | America's Car-Mart Inc. | 3,394 | 257 |
* | European Wax Center Inc. Class A | 18,699 | 254 |
* | Cooper-Standard Holdings Inc. | 12,960 | 253 |
*,1 | Fisker Inc. | 143,257 | 251 |
* | Arhaus Inc. | 21,179 | 251 |
*,1 | Bowlero Corp. Class A | 17,755 | 251 |
* | Central Garden & Pet Co. | 4,784 | 240 |
* | Lovesac Co. | 9,258 | 237 |
Build-A-Bear Workshop Inc. | 10,326 | 237 | |
Alta Equipment Group Inc. | 19,135 | 237 | |
* | Cardlytics Inc. | 25,326 | 233 |
* | Gannett Co. Inc. | 99,686 | 229 |
Carrols Restaurant Group Inc. | 28,847 | 227 | |
* | Xponential Fitness Inc. Class A | 17,297 | 223 |
Shares | Market Value• ($000) | ||
* | Sleep Number Corp. | 14,580 | 216 |
* | Liquidity Services Inc. | 12,384 | 213 |
* | Lindblad Expeditions Holdings Inc. | 18,807 | 212 |
Carriage Services Inc. | 8,442 | 211 | |
* | OneWater Marine Inc. Class A | 6,228 | 210 |
* | Potbelly Corp. | 19,904 | 207 |
* | Qurate Retail Inc. Series A | 235,205 | 206 |
* | Zumiez Inc. | 10,066 | 205 |
* | Holley Inc. | 41,174 | 201 |
* | 1-800-Flowers.com Inc. Class A | 18,559 | 200 |
Hooker Furnishings Corp. | 7,614 | 199 | |
* | Eastman Kodak Co. | 49,398 | 193 |
* | Stitch Fix Inc. Class A | 53,913 | 192 |
* | iHeartMedia Inc. Class A | 72,097 | 192 |
* | PlayAGS Inc. | 22,237 | 187 |
Aaron's Co. Inc. | 17,073 | 186 | |
* | Citi Trends Inc. | 6,412 | 181 |
* | National CineMedia Inc. | 41,128 | 170 |
* | Vera Bradley Inc. | 21,968 | 169 |
* | Tile Shop Holdings Inc. | 22,718 | 167 |
* | Petco Health & Wellness Co. Inc. | 52,385 | 166 |
* | Rush Street Interactive Inc. | 36,535 | 164 |
* | Funko Inc. Class A | 20,786 | 161 |
* | Children's Place Inc. | 6,889 | 160 |
* | Destination XL Group Inc. | 35,517 | 156 |
Escalade Inc. | 7,622 | 153 | |
* | Solo Brands Inc. Class A | 24,888 | 153 |
* | SES AI Corp. | 83,738 | 153 |
Rocky Brands Inc. | 5,039 | 152 | |
Weyco Group Inc. | 4,853 | 152 | |
Entravision Communications Corp. Class A | 36,315 | 151 | |
Johnson Outdoors Inc. Class A | 2,828 | 151 | |
* | Boston Omaha Corp. Class A | 9,556 | 150 |
* | JAKKS Pacific Inc. | 4,046 | 144 |
* | Playstudios Inc. | 51,558 | 140 |
Big Lots Inc. | 17,757 | 138 | |
Hamilton Beach Brands Holding Co. Class A | 7,791 | 136 | |
* | Red Robin Gourmet Burgers Inc. | 10,926 | 136 |
Cricut Inc. Class A | 20,354 | 134 | |
* | Lincoln Educational Services Corp. | 13,255 | 133 |
* | Landsea Homes Corp. | 10,037 | 132 |
* | Tilly's Inc. Class A | 17,104 | 129 |
* | Angi Inc. | 51,757 | 129 |
* | El Pollo Loco Holdings Inc. | 14,342 | 126 |
Shares | Market Value• ($000) | ||
Nathan's Famous Inc. | 1,617 | 126 | |
* | VOXX International Corp. | 11,691 | 125 |
Clarus Corp. | 17,555 | 121 | |
* | Selectquote Inc. | 87,993 | 121 |
* | Motorcar Parts of America Inc. | 12,730 | 119 |
* | AMMO Inc. | 56,158 | 118 |
Superior Group of Cos. Inc. | 8,674 | 117 | |
* | Legacy Housing Corp. | 4,622 | 117 |
* | Turtle Beach Corp. | 10,541 | 115 |
* | J Jill Inc. | 4,459 | 115 |
* | Full House Resorts Inc. | 20,813 | 112 |
Lakeland Industries Inc. | 6,065 | 112 | |
* | RealReal Inc. | 54,992 | 111 |
Bassett Furniture Industries Inc. | 6,604 | 110 | |
* | Lands' End Inc. | 11,262 | 108 |
* | American Public Education Inc. | 11,060 | 107 |
* | Century Casinos Inc. | 21,934 | 107 |
Climb Global Solutions Inc. | 1,899 | 104 | |
LiveOne Inc. | 74,074 | 103 | |
*,1 | Atlanta Braves Holdings Inc. Class A | 2,402 | 103 |
*,1 | Blink Charging Co. | 30,055 | 102 |
Big 5 Sporting Goods Corp. | 15,749 | 100 | |
* | Frontier Group Holdings Inc. | 18,228 | 100 |
Townsquare Media Inc. Class A | 9,337 | 99 | |
* | Nerdy Inc. | 28,833 | 99 |
* | Biglari Holdings Inc. Class A | 123 | 98 |
* | Sportsman's Warehouse Holdings Inc. | 22,550 | 96 |
* | Snap One Holdings Corp. | 10,397 | 93 |
* | Noodles & Co. | 29,201 | 92 |
* | Outbrain Inc. | 20,815 | 91 |
*,1 | Vuzix Corp. | 43,358 | 90 |
* | Surf Air Mobility Inc. | 57,909 | 90 |
* | American Outdoor Brands Inc. | 10,588 | 89 |
* | ContextLogic Inc. Class A | 14,814 | 88 |
Cato Corp. Class A | 12,211 | 87 | |
Marine Products Corp. | 7,669 | 87 | |
* | CarParts.com Inc. | 27,126 | 86 |
* | ONE Group Hospitality Inc. | 14,056 | 86 |
* | Reservoir Media Inc. | 11,962 | 85 |
*,1 | Canoo Inc. | 324,220 | 83 |
* | Allbirds Inc. Class A | 66,954 | 82 |
* | LL Flooring Holdings Inc. | 20,606 | 80 |
* | ThredUP Inc. Class A | 35,387 | 80 |
*,1 | Mondee Holdings Inc. | 28,801 | 79 |
Shares | Market Value• ($000) | ||
* | Strattec Security Corp. | 2,980 | 75 |
* | Latham Group Inc. | 28,563 | 75 |
Flexsteel Industries Inc. | 3,943 | 74 | |
* | Universal Electronics Inc. | 7,869 | 74 |
*,1 | RumbleON Inc. Class B | 9,094 | 74 |
* | Superior Industries International Inc. | 21,922 | 70 |
Lifetime Brands Inc. | 10,315 | 69 | |
*,1 | Tupperware Brands Corp. | 32,267 | 65 |
* | Cumulus Media Inc. Class A | 11,766 | 63 |
* | 2U Inc. | 50,097 | 62 |
* | Duluth Holdings Inc. Class B | 10,724 | 58 |
* | Container Store Group Inc. | 23,135 | 53 |
* | Conn's Inc. | 11,815 | 52 |
Canterbury Park Holding Corp. | 2,370 | 48 | |
* | Harte Hanks Inc. | 6,868 | 47 |
* | Fossil Group Inc. | 31,352 | 46 |
* | Traeger Inc. | 16,967 | 46 |
* | Spruce Power Holding Corp. | 10,214 | 45 |
Acme United Corp. | 998 | 43 | |
* | BARK Inc. | 53,111 | 43 |
* | Urban One Inc. | 12,009 | 42 |
* | Barnes & Noble Education Inc. | 27,832 | 41 |
* | Lazydays Holdings Inc. | 5,685 | 40 |
NL Industries Inc. | 7,172 | 40 | |
* | Mesa Air Group Inc. | 38,440 | 39 |
1 | Purple Innovation Inc. | 37,652 | 39 |
* | Delta Apparel Inc. | 5,376 | 38 |
* | Gaia Inc. | 11,846 | 32 |
* | Red Cat Holdings Inc. | 36,630 | 32 |
*,1 | Loop Media Inc. | 32,468 | 32 |
*,1 | Kirkland's Inc. | 10,411 | 31 |
* | Genius Brands International Inc. | 21,261 | 30 |
Saga Communications Inc. Class A | 1,303 | 29 | |
* | Emerald Holding Inc. | 4,815 | 29 |
* | Vacasa Inc. Class A | 3,537 | 29 |
*,1 | Focus Universal Inc. | 19,046 | 28 |
* | Brilliant Earth Group Inc. Class A | 6,975 | 26 |
* | Lee Enterprises Inc. | 3,230 | 25 |
* | Fluent Inc. | 35,496 | 24 |
Ark Restaurants Corp. | 1,632 | 23 | |
* | Sonder Holdings Inc. | 6,531 | 22 |
* | Owlet Inc. | 3,561 | 19 |
* | Regis Corp. | 1,976 | 19 |
Virco Mfg. Corp. | 1,567 | 19 | |
* | Lulu's Fashion Lounge Holdings Inc. | 9,663 | 18 |
*,1 | Express Inc. | 2,184 | 18 |
* | BowFlex Inc. | 21,129 | 16 |
* | Live Ventures Inc. | 636 | 16 |
* | Charles & Colvard Ltd. | 31,847 | 13 |
Shares | Market Value• ($000) | ||
* | BurgerFi International Inc. | 14,006 | 12 |
* | CuriosityStream Inc. | 17,896 | 10 |
* | Inspirato Inc. | 1,785 | 7 |
* | Cineverse Corp. | 4,771 | 6 |
* | Xwell Inc. | 2,088 | 4 |
*,1 | Hall of Fame Resort & Entertainment Co. | 684 | 2 |
*,1 | Faraday Future Intelligent Electric Inc. | 8,654 | 2 |
* | Aterian Inc. | 300 | — |
4,492,651 | |||
Consumer Staples (4.7%) | |||
Procter & Gamble Co. | 1,579,071 | 231,397 | |
PepsiCo Inc. | 921,583 | 156,522 | |
Coca-Cola Co. | 2,605,416 | 153,537 | |
Philip Morris International Inc. | 1,040,073 | 97,850 | |
CVS Health Corp. | 863,034 | 68,145 | |
Mondelez International Inc. Class A | 913,013 | 66,129 | |
Altria Group Inc. | 1,184,782 | 47,794 | |
Colgate-Palmolive Co. | 551,108 | 43,929 | |
McKesson Corp. | 89,204 | 41,300 | |
* | Monster Beverage Corp. | 491,298 | 28,304 |
Kimberly-Clark Corp. | 226,491 | 27,521 | |
Archer-Daniels-Midland Co. | 358,397 | 25,883 | |
General Mills Inc. | 388,103 | 25,281 | |
Constellation Brands Inc. Class A | 104,042 | 25,152 | |
Kenvue Inc. | 1,156,254 | 24,894 | |
Sysco Corp. | 338,522 | 24,756 | |
Cencora Inc. | 114,144 | 23,443 | |
Corteva Inc. | 473,733 | 22,701 | |
Keurig Dr Pepper Inc. | 654,365 | 21,803 | |
Kroger Co. | 431,872 | 19,741 | |
Kraft Heinz Co. | 533,812 | 19,740 | |
Hershey Co. | 99,807 | 18,608 | |
Church & Dwight Co. Inc. | 165,011 | 15,603 | |
Brown-Forman Corp. Class B | 214,346 | 12,239 | |
Walgreens Boots Alliance Inc. | 465,995 | 12,167 | |
Clorox Co. | 83,213 | 11,865 | |
McCormick & Co. Inc. | 167,984 | 11,493 | |
Bunge Global SA | 108,229 | 10,926 | |
Lamb Weston Holdings Inc. | 97,274 | 10,514 | |
Tyson Foods Inc. Class A | 192,917 | 10,369 | |
Kellanova | 184,085 | 10,292 | |
Conagra Brands Inc. | 320,291 | 9,180 | |
J M Smucker Co. | 67,157 | 8,487 | |
Molson Coors Beverage Co. Class B | 120,093 | 7,351 | |
* | Performance Food Group Co. | 104,768 | 7,245 |
Shares | Market Value• ($000) | ||
Casey's General Stores Inc. | 24,995 | 6,867 | |
* | US Foods Holding Corp. | 148,162 | 6,728 |
Hormel Foods Corp. | 181,910 | 5,841 | |
Campbell Soup Co. | 130,104 | 5,624 | |
* | Darling Ingredients Inc. | 106,274 | 5,297 |
* | Celsius Holdings Inc. | 93,588 | 5,102 |
Albertsons Cos. Inc. Class A | 212,451 | 4,886 | |
* | BellRing Brands Inc. | 87,757 | 4,864 |
Ingredion Inc. | 43,505 | 4,722 | |
* | Sprouts Farmers Market Inc. | 68,545 | 3,298 |
Coca-Cola Consolidated Inc. | 3,112 | 2,889 | |
* | Post Holdings Inc. | 32,722 | 2,881 |
* | Freshpet Inc. | 32,714 | 2,838 |
Flowers Foods Inc. | 115,092 | 2,591 | |
* | Simply Good Foods Co. | 61,797 | 2,447 |
WD-40 Co. | 9,381 | 2,243 | |
Lancaster Colony Corp. | 13,055 | 2,172 | |
* | Boston Beer Co. Inc. Class A | 6,191 | 2,140 |
Spectrum Brands Holdings Inc. | 22,733 | 1,813 | |
1 | Brown-Forman Corp. Class A | 28,845 | 1,719 |
* | Grocery Outlet Holding Corp. | 59,378 | 1,601 |
Energizer Holdings Inc. | 48,773 | 1,545 | |
Primo Water Corp. | 101,519 | 1,528 | |
Cal-Maine Foods Inc. | 25,985 | 1,491 | |
* | TreeHouse Foods Inc. | 34,450 | 1,428 |
J & J Snack Foods Corp. | 7,965 | 1,331 | |
Andersons Inc. | 20,676 | 1,190 | |
Edgewell Personal Care Co. | 30,970 | 1,134 | |
Universal Corp. | 15,569 | 1,048 | |
* | Herbalife Ltd. | 65,312 | 997 |
Vector Group Ltd. | 87,253 | 984 | |
Reynolds Consumer Products Inc. | 36,175 | 971 | |
MGP Ingredients Inc. | 9,662 | 952 | |
* | National Beverage Corp. | 16,730 | 832 |
Ingles Markets Inc. Class A | 9,621 | 831 | |
* | Sovos Brands Inc. | 35,604 | 784 |
Utz Brands Inc. | 45,503 | 739 | |
* | Vita Coco Co. Inc. | 26,692 | 685 |
* | Hain Celestial Group Inc. | 62,284 | 682 |
Weis Markets Inc. | 10,664 | 682 | |
WK Kellogg Co. | 51,211 | 673 | |
* | United Natural Foods Inc. | 41,043 | 666 |
* | Chefs' Warehouse Inc. | 22,522 | 663 |
Fresh Del Monte Produce Inc. | 24,940 | 655 | |
* | Pilgrim's Pride Corp. | 22,927 | 634 |
Shares | Market Value• ($000) | ||
Nu Skin Enterprises Inc. Class A | 32,408 | 629 | |
Seaboard Corp. | 151 | 539 | |
John B Sanfilippo & Son Inc. | 5,143 | 530 | |
B&G Foods Inc. | 49,858 | 523 | |
SpartanNash Co. | 22,503 | 516 | |
Medifast Inc. | 7,137 | 480 | |
* | USANA Health Sciences Inc. | 7,790 | 418 |
ACCO Brands Corp. | 64,127 | 390 | |
*,1 | Beyond Meat Inc. | 38,167 | 340 |
* | Vital Farms Inc. | 20,626 | 324 |
Turning Point Brands Inc. | 11,917 | 314 | |
Tootsie Roll Industries Inc. | 9,405 | 313 | |
Calavo Growers Inc. | 10,546 | 310 | |
* | Mission Produce Inc. | 30,100 | 304 |
* | Westrock Coffee Co. | 28,962 | 296 |
* | Duckhorn Portfolio Inc. | 29,525 | 291 |
Limoneira Co. | 12,875 | 266 | |
* | Seneca Foods Corp. Class A | 4,151 | 218 |
Oil-Dri Corp. of America | 2,766 | 186 | |
Village Super Market Inc. Class A | 6,968 | 183 | |
* | LifeMD Inc. | 21,322 | 177 |
* | Cibus Inc. | 8,711 | 171 |
* | Beauty Health Co. | 54,526 | 170 |
* | Olaplex Holdings Inc. | 66,359 | 169 |
* | Nature's Sunshine Products Inc. | 8,283 | 143 |
* | HF Foods Group Inc. | 23,456 | 125 |
* | Lifecore Biomedical Inc. | 19,810 | 123 |
Natural Grocers by Vitamin Cottage Inc. | 7,685 | 123 | |
* | Honest Co. Inc. | 33,940 | 112 |
PetMed Express Inc. | 14,496 | 110 | |
* | Mama's Creations Inc. | 22,272 | 109 |
* | Brookfield Realty Capital Corp. Class A | 27,699 | 101 |
* | Whole Earth Brands Inc. | 29,083 | 99 |
* | GrowGeneration Corp. | 35,962 | 90 |
Alico Inc. | 2,955 | 86 | |
Lifevantage Corp. | 10,023 | 60 | |
* | ProPhase Labs Inc. | 12,254 | 55 |
* | Farmer Bros Co. | 11,334 | 35 |
* | Veru Inc. | 39,389 | 28 |
* | PLBY Group Inc. | 26,318 | 26 |
* | Zevia PBC Class A | 9,474 | 19 |
*,1 | Bridgford Foods Corp. | 1,495 | 16 |
* | Vintage Wine Estates Inc. | 27,397 | 14 |
* | S&W Seed Co. | 18,009 | 13 |
* | Benson Hill Inc. | 76,425 | 13 |
* | AquaBounty Technologies Inc. | 891 | 3 |
* | 22nd Century Group Inc. | 8,332 | 2 |
1,463,411 |
Shares | Market Value• ($000) | ||
Energy (4.1%) | |||
Exxon Mobil Corp. | 2,684,038 | 268,350 | |
Chevron Corp. | 1,201,865 | 179,270 | |
ConocoPhillips | 796,351 | 92,432 | |
Schlumberger NV | 954,111 | 49,652 | |
EOG Resources Inc. | 390,666 | 47,251 | |
Phillips 66 | 295,011 | 39,278 | |
Marathon Petroleum Corp. | 254,429 | 37,747 | |
Pioneer Natural Resources Co. | 156,129 | 35,110 | |
Valero Energy Corp. | 228,211 | 29,667 | |
Williams Cos. Inc. | 816,470 | 28,438 | |
ONEOK Inc. | 390,192 | 27,399 | |
Hess Corp. | 185,605 | 26,757 | |
Occidental Petroleum Corp. | 443,582 | 26,486 | |
Cheniere Energy Inc. | 152,358 | 26,009 | |
Baker Hughes Co. | 676,605 | 23,126 | |
Kinder Morgan Inc. | 1,262,693 | 22,274 | |
Halliburton Co. | 540,989 | 19,557 | |
Devon Energy Corp. | 428,173 | 19,396 | |
Diamondback Energy Inc. | 119,541 | 18,538 | |
Targa Resources Corp. | 149,967 | 13,028 | |
Coterra Energy Inc. | 480,449 | 12,261 | |
* | First Solar Inc. | 67,792 | 11,679 |
* | Enphase Energy Inc. | 86,849 | 11,476 |
EQT Corp. | 273,686 | 10,581 | |
Marathon Oil Corp. | 393,709 | 9,512 | |
Ovintiv Inc. (XNYS) | 183,295 | 8,050 | |
APA Corp. | 207,318 | 7,439 | |
Chesapeake Energy Corp. | 84,890 | 6,531 | |
Texas Pacific Land Corp. | 4,118 | 6,475 | |
HF Sinclair Corp. | 102,753 | 5,710 | |
TechnipFMC plc | 276,865 | 5,576 | |
NOV Inc. | 264,794 | 5,370 | |
* | Southwestern Energy Co. | 737,091 | 4,828 |
* | Weatherford International plc | 47,686 | 4,665 |
Range Resources Corp. | 152,747 | 4,650 | |
Permian resources Corp. | 325,861 | 4,432 | |
Chord Energy Corp. | 26,534 | 4,411 | |
Civitas Resources Inc. | 62,437 | 4,269 | |
Murphy Oil Corp. | 97,927 | 4,178 | |
* | Antero Resources Corp. | 182,075 | 4,129 |
Matador Resources Co. | 71,408 | 4,060 | |
ChampionX Corp. | 130,031 | 3,798 | |
Noble Corp. plc | 75,743 | 3,648 | |
DTE Midstream LLC | 64,744 | 3,548 | |
PBF Energy Inc. Class A | 73,170 | 3,217 | |
* | Transocean Ltd. (XNYS) | 495,396 | 3,146 |
SM Energy Co. | 78,994 | 3,059 | |
Patterson-UTI Energy Inc. | 281,408 | 3,039 | |
Equitrans Midstream Corp. | 279,601 | 2,846 |
Shares | Market Value• ($000) | ||
Antero Midstream Corp. | 224,240 | 2,810 | |
Arcosa Inc. | 32,648 | 2,698 | |
California Resources Corp. | 46,799 | 2,559 | |
Magnolia Oil & Gas Corp. Class A | 118,434 | 2,521 | |
Alpha Metallurgical Resources Inc. | 7,144 | 2,421 | |
New Fortress Energy Inc. | 62,956 | 2,375 | |
* | Tidewater Inc. | 31,210 | 2,251 |
Northern Oil and Gas Inc. | 59,849 | 2,219 | |
Warrior Met Coal Inc. | 35,534 | 2,167 | |
Helmerich & Payne Inc. | 59,522 | 2,156 | |
* | CNX Resources Corp. | 102,151 | 2,043 |
Cactus Inc. Class A | 44,039 | 1,999 | |
Arch Resources Inc. | 11,865 | 1,969 | |
Viper Energy Inc. | 58,567 | 1,838 | |
Liberty Energy Inc. | 100,480 | 1,823 | |
Peabody Energy Corp. | 74,110 | 1,802 | |
*,1 | Plug Power Inc. | 397,877 | 1,790 |
* | Shoals Technologies Group Inc. Class A | 111,399 | 1,731 |
CONSOL Energy Inc. | 15,928 | 1,601 | |
* | NEXTracker Inc. Class A | 33,850 | 1,586 |
* | Array Technologies Inc. | 93,503 | 1,571 |
Archrock Inc. | 99,777 | 1,537 | |
* | Oceaneering International Inc. | 66,532 | 1,416 |
* | Callon Petroleum Co. | 41,338 | 1,339 |
* | Par Pacific Holdings Inc. | 35,804 | 1,302 |
Sitio Royalties Corp. Class A | 53,876 | 1,267 | |
* | Gulfport Energy Corp. | 8,731 | 1,163 |
* | Talos Energy Inc. | 74,404 | 1,059 |
Delek US Holdings Inc. | 40,698 | 1,050 | |
* | Helix Energy Solutions Group Inc. | 98,673 | 1,014 |
* | Green Plains Inc. | 37,690 | 951 |
World Kinect Corp. | 40,140 | 914 | |
* | Fluence Energy Inc. | 38,069 | 908 |
* | Diamond Offshore Drilling Inc. | 69,498 | 903 |
* | Vital Energy Inc. | 17,931 | 816 |
* | NOW Inc. | 70,580 | 799 |
CVR Energy Inc. | 23,493 | 712 | |
* | Ameresco Inc. Class A | 21,746 | 689 |
Crescent Energy Co. Class A | 51,747 | 684 | |
SunCoke Energy Inc. | 56,539 | 607 | |
* | MRC Global Inc. | 54,151 | 596 |
Atlas Energy Solutions Inc. | 34,233 | 589 | |
Core Laboratories Inc. | 32,248 | 570 | |
Comstock Resources Inc. | 63,137 | 559 | |
* | FuelCell Energy Inc. | 340,830 | 545 |
* | Nabors Industries Ltd. (XNYS) | 6,548 | 535 |
Shares | Market Value• ($000) | ||
* | REX American Resources Corp. | 11,214 | 530 |
* | Centrus Energy Corp. Class A | 9,586 | 522 |
* | Dril-Quip Inc. | 21,948 | 511 |
*,1 | ChargePoint Holdings Inc. | 216,107 | 506 |
* | ProPetro Holding Corp. | 59,558 | 499 |
Kinetik Holdings Inc. | 14,605 | 488 | |
* | NextDecade Corp. | 97,294 | 464 |
Select Water Solutions Inc. | 59,935 | 455 | |
RPC Inc. | 61,215 | 446 | |
* | SilverBow Resources Inc. | 14,475 | 421 |
* | Bristow Group Inc. | 14,607 | 413 |
*,1 | Stem Inc. | 100,623 | 390 |
* | TETRA Technologies Inc. | 81,233 | 367 |
* | Montauk Renewables Inc. | 38,927 | 347 |
VAALCO Energy Inc. | 72,818 | 327 | |
* | Newpark Resources Inc. | 47,154 | 313 |
SandRidge Energy Inc. | 20,819 | 285 | |
* | SunPower Corp. | 58,871 | 284 |
Vitesse Energy Inc. | 12,846 | 281 | |
* | Oil States International Inc. | 41,067 | 279 |
Ramaco Resources Inc. Class A | 15,478 | 266 | |
Berry Corp. | 37,707 | 265 | |
*,1 | Tellurian Inc. | 346,130 | 262 |
* | DMC Global Inc. | 13,419 | 253 |
*,1 | EVgo Inc. | 69,821 | 250 |
1 | HighPeak Energy Inc. | 16,753 | 239 |
* | SEACOR Marine Holdings Inc. | 18,771 | 236 |
* | American Superconductor Corp. | 19,441 | 217 |
Kodiak Gas Services Inc. | 10,314 | 207 | |
* | Matrix Service Co. | 20,138 | 197 |
W&T Offshore Inc. | 60,181 | 196 | |
* | Gevo Inc. | 161,777 | 188 |
* | Natural Gas Services Group Inc. | 10,759 | 173 |
* | Amplify Energy Corp. | 28,902 | 171 |
* | Hallador Energy Co. | 19,051 | 168 |
* | Forum Energy Technologies Inc. | 7,505 | 166 |
Solaris Oilfield Infrastructure Inc. Class A | 20,364 | 162 | |
* | Geospace Technologies Corp. | 11,189 | 145 |
Granite Ridge Resources Inc. | 22,016 | 133 | |
Evolution Petroleum Corp. | 22,455 | 130 |
Shares | Market Value• ($000) | ||
NACCO Industries Inc. Class A | 3,559 | 130 | |
* | ProFrac Holding Corp. Class A | 15,223 | 129 |
PHX Minerals Inc. | 32,792 | 106 | |
Riley Exploration Permian Inc. | 3,903 | 106 | |
* | TPI Composites Inc. | 25,015 | 104 |
* | Aemetis Inc. | 19,744 | 103 |
* | Solid Power Inc. | 71,191 | 103 |
Ranger Energy Services Inc. | 9,731 | 100 | |
* | KLX Energy Services Holdings Inc. | 7,734 | 87 |
* | Ring Energy Inc. | 58,009 | 85 |
* | OPAL Fuels Inc. Class A | 15,456 | 85 |
Epsilon Energy Ltd. | 14,306 | 73 | |
* | Empire Petroleum Corp. | 5,806 | 64 |
* | Profire Energy Inc. | 33,333 | 60 |
* | Battalion Oil Corp. | 5,921 | 57 |
* | Ideal Power Inc. | 6,716 | 52 |
* | Gulf Island Fabrication Inc. | 10,847 | 47 |
* | Flotek Industries Inc. | 11,112 | 44 |
*,1 | Beam Global | 5,797 | 41 |
Ramaco Resources Inc. Class B | 3,095 | 41 | |
* | American Resources Corp. | 26,674 | 40 |
* | ESS Tech Inc. | 27,503 | 31 |
* | Nine Energy Service Inc. | 11,327 | 30 |
* | FTC Solar Inc. | 33,881 | 23 |
Enviva Inc. | 19,768 | 20 | |
* | Ocean Power Technologies Inc. | 41,515 | 13 |
*,1 | Sunworks Inc. | 21,967 | 5 |
*,2 | Alta Mesa Resources Inc. Class A | 103,408 | — |
1,276,733 | |||
Financials (10.8%) | |||
* | Berkshire Hathaway Inc. Class B | 1,176,762 | 419,704 |
JPMorgan Chase & Co. | 1,936,633 | 329,421 | |
Bank of America Corp. | 4,505,650 | 151,705 | |
Wells Fargo & Co. | 2,432,731 | 119,739 | |
S&P Global Inc. | 212,368 | 93,552 | |
Goldman Sachs Group Inc. | 218,593 | 84,327 | |
Morgan Stanley | 825,223 | 76,952 | |
BlackRock Inc. | 89,762 | 72,869 | |
Charles Schwab Corp. | 950,625 | 65,403 | |
Citigroup Inc. | 1,217,028 | 62,604 | |
Marsh & McLennan Cos. Inc. | 330,079 | 62,540 | |
Progressive Corp. | 391,947 | 62,429 | |
Blackstone Inc. | 476,447 | 62,376 | |
Chubb Ltd. | 273,814 | 61,882 | |
CME Group Inc. | 240,999 | 50,754 | |
Intercontinental Exchange Inc. | 384,274 | 49,352 | |
US Bancorp | 1,044,990 | 45,227 |
Shares | Market Value• ($000) | ||
PNC Financial Services Group Inc. | 266,502 | 41,268 | |
Moody's Corp. | 104,277 | 40,726 | |
Aon plc Class A (XNYS) | 127,097 | 36,988 | |
KKR & Co. Inc. | 445,301 | 36,893 | |
Truist Financial Corp. | 895,577 | 33,065 | |
Arthur J Gallagher & Co. | 144,764 | 32,555 | |
Aflac Inc. | 391,462 | 32,296 | |
American International Group Inc. | 470,795 | 31,896 | |
Travelers Cos. Inc. | 153,274 | 29,197 | |
MSCI Inc. | 50,477 | 28,552 | |
Bank of New York Mellon Corp. | 515,630 | 26,839 | |
Ameriprise Financial Inc. | 67,724 | 25,724 | |
Prudential Financial Inc. | 242,348 | 25,134 | |
Apollo Global Management Inc. | 266,644 | 24,849 | |
Allstate Corp. | 175,202 | 24,525 | |
MetLife Inc. | 370,350 | 24,491 | |
Discover Financial Services | 167,395 | 18,815 | |
* | Berkshire Hathaway Inc. Class A | 34 | 18,449 |
* | Coinbase Global Inc. Class A | 103,030 | 17,919 |
* | Arch Capital Group Ltd. | 237,838 | 17,664 |
Willis Towers Watson plc | 69,402 | 16,740 | |
Hartford Financial Services Group Inc. | 202,018 | 16,238 | |
Broadridge Financial Solutions Inc. | 78,779 | 16,209 | |
T Rowe Price Group Inc. | 149,983 | 16,152 | |
Nasdaq Inc. | 270,902 | 15,750 | |
Fifth Third Bancorp | 455,852 | 15,722 | |
State Street Corp. | 196,924 | 15,254 | |
M&T Bank Corp. | 110,829 | 15,192 | |
Raymond James Financial Inc. | 125,749 | 14,021 | |
Ares Management Corp. Class A | 111,236 | 13,228 | |
Principal Financial Group Inc. | 160,451 | 12,623 | |
Cboe Global Markets Inc. | 70,518 | 12,592 | |
Huntington Bancshares Inc. | 962,053 | 12,237 | |
FactSet Research Systems Inc. | 25,563 | 12,195 | |
Regions Financial Corp. | 620,523 | 12,026 | |
* | Markel Group Inc. | 8,413 | 11,946 |
LPL Financial Holdings Inc. | 50,776 | 11,558 | |
Northern Trust Corp. | 132,550 | 11,185 | |
Cincinnati Financial Corp. | 104,880 | 10,851 | |
Brown & Brown Inc. | 152,040 | 10,812 | |
Everest Group Ltd. | 28,947 | 10,235 |
Shares | Market Value• ($000) | ||
Citizens Financial Group Inc. | 297,329 | 9,853 | |
First Citizens BancShares Inc. Class A | 6,796 | 9,643 | |
W R Berkley Corp. | 130,586 | 9,235 | |
KeyCorp. | 628,356 | 9,048 | |
Fidelity National Financial Inc. | 171,101 | 8,730 | |
Loews Corp. | 118,498 | 8,246 | |
Equitable Holdings Inc. | 226,192 | 7,532 | |
MarketAxess Holdings Inc. | 25,420 | 7,444 | |
Globe Life Inc. | 59,781 | 7,277 | |
Reinsurance Group of America Inc. | 43,662 | 7,064 | |
Tradeweb Markets Inc. Class A | 77,493 | 7,043 | |
RenaissanceRe Holdings Ltd. | 35,237 | 6,906 | |
Carlyle Group Inc. | 169,525 | 6,898 | |
East West Bancorp Inc. | 94,402 | 6,792 | |
Annaly Capital Management Inc. | 335,656 | 6,502 | |
Ally Financial Inc. | 180,250 | 6,294 | |
Assurant Inc. | 35,275 | 5,943 | |
Webster Financial Corp. | 117,006 | 5,939 | |
* | SoFi Technologies Inc. | 580,825 | 5,779 |
Erie Indemnity Co. Class A | 17,219 | 5,767 | |
American Financial Group Inc. | 48,113 | 5,720 | |
Interactive Brokers Group Inc. Class A | 67,793 | 5,620 | |
Franklin Resources Inc. | 183,412 | 5,464 | |
First Horizon Corp. | 377,049 | 5,339 | |
Invesco Ltd. | 295,981 | 5,280 | |
Voya Financial Inc. | 69,932 | 5,102 | |
* | Robinhood Markets Inc. Class A | 398,578 | 5,078 |
Unum Group | 112,055 | 5,067 | |
SEI Investments Co. | 78,366 | 4,980 | |
Old Republic International Corp. | 169,216 | 4,975 | |
Comerica Inc. | 88,898 | 4,961 | |
Morningstar Inc. | 17,187 | 4,920 | |
Kinsale Capital Group Inc. | 14,600 | 4,890 | |
Primerica Inc. | 23,759 | 4,889 | |
New York Community Bancorp Inc. | 463,172 | 4,738 | |
Western Alliance Bancorp | 69,764 | 4,590 | |
Stifel Financial Corp. | 65,680 | 4,542 | |
Blue Owl Capital Inc. | 303,507 | 4,522 | |
Zions Bancorp NA | 100,001 | 4,387 | |
AGNC Investment Corp. | 443,552 | 4,351 | |
SouthState Corp. | 50,774 | 4,288 | |
Pinnacle Financial Partners Inc. | 48,988 | 4,273 | |
Commerce Bancshares Inc. | 79,599 | 4,251 |
Shares | Market Value• ($000) | ||
First American Financial Corp. | 65,893 | 4,246 | |
Cullen/Frost Bankers Inc. | 38,168 | 4,141 | |
Starwood Property Trust Inc. | 196,884 | 4,138 | |
Houlihan Lokey Inc. | 34,478 | 4,134 | |
Selective Insurance Group Inc. | 40,685 | 4,047 | |
Prosperity Bancshares Inc. | 59,312 | 4,017 | |
Jefferies Financial Group Inc. | 98,830 | 3,994 | |
Popular Inc. | 47,656 | 3,911 | |
OneMain Holdings Inc. | 79,049 | 3,889 | |
Evercore Inc. Class A | 22,704 | 3,884 | |
RLI Corp. | 29,099 | 3,874 | |
Wintrust Financial Corp. | 40,841 | 3,788 | |
Columbia Banking System Inc. | 140,170 | 3,740 | |
Bank OZK | 74,801 | 3,727 | |
Cadence Bank | 122,281 | 3,618 | |
MGIC Investment Corp. | 184,971 | 3,568 | |
Essent Group Ltd. | 65,566 | 3,458 | |
United Bankshares Inc. | 90,817 | 3,410 | |
Rithm Capital Corp. | 318,922 | 3,406 | |
Synovus Financial Corp. | 90,240 | 3,398 | |
Affiliated Managers Group Inc. | 22,130 | 3,351 | |
* | Marathon Digital Holdings Inc. | 142,264 | 3,342 |
Old National Bancorp | 196,353 | 3,316 | |
FNB Corp. | 234,468 | 3,229 | |
Corebridge Financial Inc. | 147,607 | 3,197 | |
Valley National Bancorp | 287,749 | 3,125 | |
Glacier Bancorp Inc. | 74,556 | 3,081 | |
Home BancShares Inc. | 120,616 | 3,055 | |
Lincoln National Corp. | 111,813 | 3,016 | |
Radian Group Inc. | 102,283 | 2,920 | |
SLM Corp. | 150,616 | 2,880 | |
* | American Equity Investment Life Holding Co. | 51,485 | 2,873 |
Axis Capital Holdings Ltd. | 51,167 | 2,833 | |
* | Ryan Specialty Holdings Inc. | 65,816 | 2,831 |
FirstCash Holdings Inc. | 25,727 | 2,789 | |
First Financial Bankshares Inc. | 90,995 | 2,757 | |
Assured Guaranty Ltd. | 36,385 | 2,723 | |
* | Mr Cooper Group Inc. | 41,769 | 2,720 |
Jackson Financial Inc. Class A | 52,749 | 2,701 | |
Hancock Whitney Corp. | 55,244 | 2,684 | |
Janus Henderson Group plc | 88,666 | 2,673 | |
Hamilton Lane Inc. Class A | 23,302 | 2,643 | |
Hanover Insurance Group Inc. | 21,295 | 2,586 |
Shares | Market Value• ($000) | ||
Moelis & Co. Class A | 45,296 | 2,542 | |
Lazard Ltd. Class A | 72,319 | 2,517 | |
White Mountains Insurance Group Ltd. | 1,638 | 2,465 | |
* | Enstar Group Ltd. | 8,299 | 2,443 |
Walker & Dunlop Inc. | 21,775 | 2,417 | |
1 | Blackstone Mortgage Trust Inc. Class A | 109,662 | 2,333 |
Ameris Bancorp | 43,922 | 2,330 | |
* | Brighthouse Financial Inc. | 43,045 | 2,278 |
ServisFirst Bancshares Inc. | 32,769 | 2,183 | |
UMB Financial Corp. | 25,928 | 2,166 | |
United Community Banks Inc. | 73,955 | 2,164 | |
Cathay General Bancorp | 47,646 | 2,124 | |
* | Texas Capital Bancshares Inc. | 32,818 | 2,121 |
CNO Financial Group Inc. | 74,219 | 2,071 | |
International Bancshares Corp. | 37,827 | 2,055 | |
* | Riot Platforms Inc. | 132,139 | 2,044 |
* | Genworth Financial Inc. Class A | 305,707 | 2,042 |
Associated Banc-Corp. | 95,065 | 2,033 | |
Piper Sandler Cos. | 11,465 | 2,005 | |
Kemper Corp. | 41,070 | 1,999 | |
*,1 | Upstart Holdings Inc. | 48,640 | 1,987 |
* | Axos Financial Inc. | 35,912 | 1,961 |
First Hawaiian Inc. | 85,011 | 1,943 | |
Artisan Partners Asset Management Inc. Class A | 43,736 | 1,932 | |
Pacific Premier Bancorp Inc. | 65,626 | 1,910 | |
Bank of Hawaii Corp. | 26,327 | 1,908 | |
Independent Bank Corp. (XNGS) | 28,893 | 1,901 | |
TPG Inc. | 44,027 | 1,901 | |
WSFS Financial Corp. | 41,209 | 1,893 | |
Community Bank System Inc. | 35,689 | 1,860 | |
Federated Hermes Inc. | 54,135 | 1,833 | |
Atlantic Union Bankshares Corp. | 50,023 | 1,828 | |
First Interstate BancSystem Inc. Class A | 59,214 | 1,821 | |
Fulton Financial Corp. | 110,430 | 1,818 | |
* | Credit Acceptance Corp. | 3,399 | 1,811 |
CVB Financial Corp. | 89,568 | 1,808 | |
First BanCorp (XNYS) | 109,802 | 1,806 | |
1 | Arbor Realty Trust Inc. | 115,154 | 1,748 |
BGC Group Inc. Class A | 239,583 | 1,730 | |
* | Clearwater Analytics Holdings Inc. Class A | 84,299 | 1,689 |
BankUnited Inc. | 51,659 | 1,675 | |
* | NMI Holdings Inc. Class A | 55,188 | 1,638 |
Shares | Market Value• ($000) | ||
Simmons First National Corp. Class A | 81,787 | 1,623 | |
Seacoast Banking Corp. of Florida | 56,326 | 1,603 | |
Eastern Bankshares Inc. | 106,600 | 1,514 | |
PJT Partners Inc. Class A | 14,780 | 1,506 | |
First Merchants Corp. | 40,486 | 1,501 | |
PennyMac Financial Services Inc. | 16,856 | 1,490 | |
WaFd Inc. | 44,892 | 1,480 | |
First Financial Bancorp | 59,891 | 1,422 | |
Towne Bank | 46,646 | 1,388 | |
BOK Financial Corp. | 15,812 | 1,354 | |
* | StoneX Group Inc. | 17,874 | 1,320 |
NBT Bancorp Inc. | 31,007 | 1,299 | |
Park National Corp. | 9,719 | 1,291 | |
* | Rocket Cos. Inc. Class A | 87,315 | 1,264 |
* | Bancorp Inc. | 32,109 | 1,238 |
Banner Corp. | 23,079 | 1,236 | |
Renasant Corp. | 36,398 | 1,226 | |
Independent Bank Group Inc. | 23,889 | 1,215 | |
WesBanco Inc. | 38,638 | 1,212 | |
Cohen & Steers Inc. | 15,906 | 1,205 | |
OFG Bancorp | 31,864 | 1,194 | |
Virtu Financial Inc. Class A | 58,958 | 1,194 | |
* | Triumph Financial Inc. | 14,784 | 1,185 |
BancFirst Corp. | 11,959 | 1,164 | |
Banc of California Inc. | 84,733 | 1,138 | |
Apollo Commercial Real Estate Finance Inc. | 96,220 | 1,130 | |
Virtus Investment Partners Inc. | 4,650 | 1,124 | |
Federal Agricultural Mortgage Corp. Class C | 5,779 | 1,105 | |
StepStone Group Inc. Class A | 34,477 | 1,097 | |
Ready Capital Corp. | 106,799 | 1,095 | |
* | Customers Bancorp Inc. | 18,959 | 1,092 |
Claros Mortgage Trust Inc. | 79,885 | 1,089 | |
Hilltop Holdings Inc. | 30,799 | 1,084 | |
* | Goosehead Insurance Inc. Class A | 14,164 | 1,074 |
Lakeland Financial Corp. | 16,473 | 1,073 | |
Stewart Information Services Corp. | 18,263 | 1,073 | |
Trustmark Corp. | 38,390 | 1,070 | |
Enterprise Financial Services Corp. | 23,928 | 1,068 | |
City Holding Co. | 9,521 | 1,050 | |
* | Enova International Inc. | 18,789 | 1,040 |
Northwest Bancshares Inc. | 81,861 | 1,022 | |
* | BRP Group Inc. Class A | 42,054 | 1,010 |
Shares | Market Value• ($000) | ||
Navient Corp. | 53,848 | 1,003 | |
Westamerica BanCorp | 17,673 | 997 | |
Live Oak Bancshares Inc. | 21,439 | 975 | |
First Commonwealth Financial Corp. | 62,287 | 962 | |
Hope Bancorp Inc. | 79,523 | 961 | |
* | Oscar Health Inc. Class A | 104,983 | 961 |
FB Financial Corp. | 23,950 | 954 | |
National Bank Holdings Corp. Class A | 25,248 | 939 | |
First Bancorp (XNGS) | 25,322 | 937 | |
Compass Diversified Holdings | 41,066 | 922 | |
Stock Yards Bancorp Inc. | 17,861 | 920 | |
Horace Mann Educators Corp. | 27,455 | 898 | |
Heartland Financial USA Inc. | 23,470 | 883 | |
Pathward Financial Inc. | 16,662 | 882 | |
Two Harbors Investment Corp. | 63,057 | 878 | |
Ladder Capital Corp. | 76,036 | 875 | |
Victory Capital Holdings Inc. Class A | 25,414 | 875 | |
First Busey Corp. | 35,148 | 872 | |
* | Palomar Holdings Inc. | 15,554 | 863 |
PennyMac Mortgage Investment Trust | 57,037 | 853 | |
Provident Financial Services Inc. | 47,282 | 852 | |
S&T Bancorp Inc. | 25,485 | 852 | |
Stellar Bancorp Inc. | 30,307 | 844 | |
TriCo Bancshares | 19,072 | 820 | |
Peoples Bancorp Inc. | 24,137 | 815 | |
Veritex Holdings Inc. | 34,055 | 792 | |
Sandy Spring Bancorp Inc. | 28,706 | 782 | |
* | Cannae Holdings Inc. | 38,924 | 759 |
* | Encore Capital Group Inc. | 14,909 | 757 |
MFA Financial Inc. REIT | 67,204 | 757 | |
Chimera Investment Corp. | 150,581 | 751 | |
Safety Insurance Group Inc. | 9,855 | 749 | |
Berkshire Hills Bancorp Inc. | 29,869 | 742 | |
Nelnet Inc. Class A | 8,086 | 713 | |
* | SiriusPoint Ltd. | 61,350 | 712 |
Franklin BSP Realty Trust Inc. REIT | 52,036 | 703 | |
* | Skyward Specialty Insurance Group Inc. | 20,654 | 700 |
Origin Bancorp Inc. | 19,475 | 693 | |
Brightspire Capital Inc. | 92,816 | 691 | |
OceanFirst Financial Corp. | 39,400 | 684 | |
Nicolet Bankshares Inc. | 8,372 | 674 |
Shares | Market Value• ($000) | ||
Southside Bancshares Inc. | 21,385 | 670 | |
Employers Holdings Inc. | 16,830 | 663 | |
Mercury General Corp. | 17,747 | 662 | |
* | PRA Group Inc. | 25,009 | 655 |
ARMOUR Residential REIT Inc. | 33,727 | 652 | |
National Western Life Group Inc. Class A | 1,325 | 640 | |
* | Trupanion Inc. | 20,847 | 636 |
Bank First Corp. | 7,301 | 633 | |
Enact Holdings Inc. | 21,697 | 627 | |
German American Bancorp Inc. | 18,991 | 615 | |
Preferred Bank | 8,386 | 613 | |
WisdomTree Inc. | 87,812 | 609 | |
Redwood Trust Inc. | 81,079 | 601 | |
AMERISAFE Inc. | 12,816 | 600 | |
QCR Holdings Inc. | 10,278 | 600 | |
* | Open Lending Corp. Class A | 70,364 | 599 |
Ellington Financial Inc. | 46,885 | 596 | |
Premier Financial Corp. | 24,679 | 595 | |
Lakeland Bancorp Inc. | 40,156 | 594 | |
Brookline Bancorp Inc. | 54,309 | 593 | |
TFS Financial Corp. | 39,819 | 585 | |
* | LendingClub Corp. | 66,705 | 583 |
Capitol Federal Financial Inc. | 90,164 | 582 | |
Dime Community Bancshares Inc. | 21,596 | 582 | |
New York Mortgage Trust Inc. | 67,208 | 573 | |
*,1 | Lemonade Inc. | 35,214 | 568 |
ConnectOne Bancorp Inc. | 24,205 | 555 | |
F&G Annuities & Life Inc. | 11,867 | 546 | |
Eagle Bancorp Inc. | 17,990 | 542 | |
First Bancshares Inc. | 17,749 | 521 | |
Tompkins Financial Corp. | 8,236 | 496 | |
ProAssurance Corp. | 35,652 | 492 | |
* | Ambac Financial Group Inc. | 29,552 | 487 |
Amerant Bancorp Inc. | 19,654 | 483 | |
Merchants Bancorp | 11,200 | 477 | |
Heritage Financial Corp. | 21,778 | 466 | |
Horizon Bancorp Inc. | 31,935 | 457 | |
Brightsphere Investment Group Inc. | 23,285 | 446 | |
First Mid Bancshares Inc. | 12,765 | 442 | |
Community Trust Bancorp Inc. | 9,971 | 437 | |
1 | UWM Holdings Corp. | 60,612 | 433 |
Amalgamated Financial Corp. | 16,023 | 432 | |
HCI Group Inc. | 4,916 | 430 | |
Mercantile Bank Corp. | 10,446 | 422 |
Shares | Market Value• ($000) | ||
Dynex Capital Inc. | 33,541 | 420 | |
Washington Trust Bancorp Inc. | 12,879 | 417 | |
1st Source Corp. | 7,487 | 411 | |
Old Second Bancorp Inc. | 26,576 | 410 | |
* | Assetmark Financial Holdings Inc. | 13,572 | 406 |
Farmers National Banc Corp. | 27,614 | 399 | |
Byline Bancorp Inc. | 16,831 | 397 | |
Univest Financial Corp. | 17,983 | 396 | |
Business First Bancshares Inc. | 15,762 | 389 | |
Kearny Financial Corp. | 43,112 | 387 | |
Midland States Bancorp Inc. | 14,003 | 386 | |
* | Columbia Financial Inc. | 19,953 | 385 |
Hanmi Financial Corp. | 19,616 | 381 | |
* | CrossFirst Bankshares Inc. | 27,698 | 376 |
Northfield Bancorp Inc. | 29,814 | 375 | |
Heritage Commerce Corp. | 37,367 | 371 | |
* | Metropolitan Bank Holding Corp. | 6,652 | 368 |
Great Southern Bancorp Inc. | 6,158 | 365 | |
HarborOne Bancorp Inc. | 30,455 | 365 | |
Equity Bancshares Inc. Class A | 10,726 | 364 | |
KKR Real Estate Finance Trust Inc. | 27,372 | 362 | |
American National Bankshares Inc. | 7,342 | 358 | |
TrustCo Bank Corp. NY | 11,528 | 358 | |
United Fire Group Inc. | 17,731 | 357 | |
Camden National Corp. | 9,320 | 351 | |
Independent Bank Corp. | 13,430 | 349 | |
Flushing Financial Corp. | 20,973 | 346 | |
* | Coastal Financial Corp. | 7,793 | 346 |
CNB Financial Corp. | 15,254 | 345 | |
* | EZCorp. Inc. Class A | 38,810 | 339 |
Tiptree Inc. | 17,754 | 337 | |
Cambridge Bancorp | 4,727 | 328 | |
Universal Insurance Holdings Inc. | 20,437 | 327 | |
First Foundation Inc. | 33,535 | 325 | |
First Community Bankshares Inc. | 8,739 | 324 | |
Invesco Mortgage Capital Inc. REIT | 36,250 | 321 | |
Central Pacific Financial Corp. | 16,183 | 318 | |
Perella Weinberg Partners | 25,929 | 317 | |
First Financial Corp. | 7,285 | 313 | |
Peapack-Gladstone Financial Corp. | 10,493 | 313 |
Shares | Market Value• ($000) | ||
Metrocity Bankshares Inc. | 12,490 | 300 | |
Diamond Hill Investment Group Inc. | 1,783 | 295 | |
ACNB Corp. | 6,589 | 295 | |
Republic Bancorp Inc. Class A | 5,300 | 292 | |
Bar Harbor Bankshares | 9,895 | 291 | |
Shore Bancshares Inc. | 20,192 | 288 | |
Granite Point Mortgage Trust Inc. | 47,975 | 285 | |
* | World Acceptance Corp. | 2,153 | 281 |
HomeTrust Bancshares Inc. | 10,069 | 271 | |
Alerus Financial Corp. | 12,077 | 270 | |
TPG RE Finance Trust Inc. | 41,064 | 267 | |
Southern Missouri Bancorp Inc. | 4,967 | 265 | |
GCM Grosvenor Inc. Class A | 29,149 | 261 | |
P10 Inc. Class A | 25,496 | 261 | |
Northrim BanCorp Inc. | 4,505 | 258 | |
Orchid Island Capital Inc. | 30,262 | 255 | |
1 | NewtekOne Inc. | 18,078 | 249 |
Macatawa Bank Corp. | 22,021 | 248 | |
SmartFinancial Inc. | 10,103 | 247 | |
Peoples Financial Services Corp. | 5,056 | 246 | |
* | Forge Global Holdings Inc. | 71,666 | 246 |
Arrow Financial Corp. | 8,713 | 243 | |
1 | B Riley Financial Inc. | 11,399 | 239 |
Sierra Bancorp | 10,371 | 234 | |
Capital City Bank Group Inc. | 7,891 | 232 | |
Citizens & Northern Corp. | 10,308 | 231 | |
Burke & Herbert Financial Services Corp. | 3,628 | 228 | |
* | LendingTree Inc. | 7,381 | 224 |
Crawford & Co. Class A | 16,750 | 221 | |
Waterstone Financial Inc. | 15,475 | 220 | |
Esquire Financial Holdings Inc. | 4,353 | 217 | |
* | loanDepot Inc. Class A | 61,728 | 217 |
Bank of Marin Bancorp | 9,824 | 216 | |
Enterprise Bancorp Inc. | 6,660 | 215 | |
BayCom Corp. | 9,049 | 213 | |
Capstar Financial Holdings Inc. | 11,382 | 213 | |
Northeast Bank | 3,845 | 212 | |
Primis Financial Corp. | 16,733 | 212 | |
Orrstown Financial Services Inc. | 7,126 | 210 | |
* | Southern First Bancshares Inc. | 5,656 | 210 |
Shares | Market Value• ($000) | ||
* | Bridgewater Bancshares Inc. | 15,252 | 206 |
First Bank | 13,997 | 206 | |
Citizens Financial Services Inc. | 3,188 | 206 | |
Civista Bancshares Inc. | 11,120 | 205 | |
MidWestOne Financial Group Inc. | 7,622 | 205 | |
HBT Financial Inc. | 9,718 | 205 | |
FS Bancorp Inc. | 5,528 | 204 | |
Fidelity D&D Bancorp Inc. | 3,517 | 204 | |
Farmers & Merchants Bancorp Inc. | 8,192 | 203 | |
Chicago Atlantic Real Estate Finance Inc. | 12,398 | 201 | |
Codorus Valley Bancorp Inc. | 7,652 | 197 | |
* | Greenlight Capital Re Ltd. Class A | 17,246 | 197 |
Mid Penn Bancorp Inc. | 8,011 | 195 | |
Hingham Institution for Savings | 998 | 194 | |
RBB Bancorp | 10,024 | 191 | |
* | MBIA Inc. | 30,978 | 190 |
* | Carter Bankshares Inc. | 12,707 | 190 |
* | Blue Foundry Bancorp | 19,670 | 190 |
First of Long Island Corp. | 14,231 | 188 | |
James River Group Holdings Ltd. | 20,375 | 188 | |
West BanCorp. Inc. | 8,776 | 186 | |
South Plains Financial Inc. | 6,388 | 185 | |
Financial Institutions Inc. | 8,542 | 182 | |
Investors Title Co. | 1,118 | 181 | |
Timberland Bancorp Inc. | 5,735 | 180 | |
John Marshall Bancorp Inc. | 7,930 | 179 | |
1 | NexPoint Diversified Real Estate Trust | 22,492 | 179 |
* | Third Coast Bancshares Inc. | 8,955 | 178 |
PCB Bancorp | 9,463 | 174 | |
* | American Coastal Insurance Corp. Class C | 18,382 | 174 |
Summit Financial Group Inc. | 5,649 | 173 | |
ChoiceOne Financial Services Inc. | 5,893 | 173 | |
First Business Financial Services Inc. | 4,292 | 172 | |
First Internet Bancorp | 6,960 | 168 | |
* | Ponce Financial Group Inc. | 17,208 | 168 |
Plumas Bancorp | 4,045 | 167 | |
MVB Financial Corp. | 7,102 | 160 | |
First Bancorp Inc. (XNGS) | 5,583 | 158 |
Shares | Market Value• ($000) | ||
Guaranty Bancshares Inc. | 4,660 | 157 | |
Home Bancorp Inc. | 3,743 | 157 | |
C&F Financial Corp. | 2,281 | 156 | |
Five Star Bancorp | 5,975 | 156 | |
ESSA Bancorp Inc. | 7,596 | 152 | |
Middlefield Banc Corp. | 4,658 | 151 | |
* | Southern California Bancorp | 8,714 | 151 |
Regional Management Corp. | 5,980 | 150 | |
Colony Bankcorp Inc. | 11,165 | 148 | |
Red River Bancshares Inc. | 2,646 | 148 | |
AFC Gamma Inc. | 12,195 | 147 | |
Orange County Bancorp Inc. | 2,434 | 147 | |
MainStreet Bancshares Inc. | 5,879 | 146 | |
* | California BanCorp | 5,914 | 146 |
Greene County Bancorp Inc. | 5,096 | 144 | |
Central Valley Community Bancorp | 6,312 | 141 | |
Oppenheimer Holdings Inc. Class A | 3,410 | 141 | |
AG Mortgage Investment Trust Inc. | 22,081 | 140 | |
Chemung Financial Corp. | 2,801 | 139 | |
First United Corp. | 5,904 | 139 | |
First Community Corp. | 6,423 | 138 | |
Princeton Bancorp Inc. | 3,849 | 138 | |
* | Hagerty Inc. Class A | 17,303 | 135 |
Oak Valley Bancorp | 4,464 | 134 | |
Southern States Bancshares Inc. | 4,587 | 134 | |
* | Velocity Financial Inc. | 7,686 | 132 |
Capital Bancorp Inc. | 5,450 | 132 | |
Norwood Financial Corp. | 3,972 | 131 | |
Virginia National Bankshares Corp. | 3,803 | 131 | |
Cherry Hill Mortgage Investment Corp. | 32,229 | 130 | |
Western New England Bancorp Inc. | 14,481 | 130 | |
HomeStreet Inc. | 12,531 | 129 | |
* | Heritage Insurance Holdings Inc. | 19,570 | 128 |
Penns Woods Bancorp Inc. | 5,670 | 128 | |
* | eHealth Inc. | 14,420 | 126 |
Parke Bancorp Inc. | 6,244 | 126 | |
BCB Bancorp Inc. | 9,445 | 121 | |
Donegal Group Inc. Class A | 8,568 | 120 | |
LCNB Corp. | 7,580 | 120 | |
* | FVCBankcorp Inc. | 8,396 | 119 |
Investar Holding Corp. | 7,982 | 119 | |
Peoples Bancorp of North Carolina Inc. | 3,935 | 119 |
Shares | Market Value• ($000) | ||
National Bankshares Inc. | 3,647 | 118 | |
Meridian Corp. | 8,472 | 118 | |
Union Bankshares Inc. | 3,794 | 116 | |
* | Finwise Bancorp | 7,943 | 114 |
* | Bakkt Holdings Inc. | 50,567 | 113 |
Evans Bancorp Inc. | 3,554 | 112 | |
* | First Western Financial Inc. | 5,599 | 111 |
Seven Hills Realty Trust | 8,503 | 110 | |
William Penn Bancorp Inc. | 8,580 | 105 | |
* | Pioneer Bancorp Inc. | 10,394 | 104 |
United Security Bancshares | 12,285 | 103 | |
* | Ocwen Financial Corp. | 3,313 | 102 |
Northeast Community Bancorp Inc. | 5,724 | 102 | |
Ames National Corp. | 4,723 | 101 | |
* | NI Holdings Inc. | 7,567 | 98 |
* | Sterling Bancorp Inc. | 16,749 | 97 |
Bankwell Financial Group Inc. | 3,177 | 96 | |
* | Citizens Inc. | 35,558 | 96 |
* | Heritage Global Inc. | 34,014 | 95 |
Unity Bancorp Inc. | 3,134 | 93 | |
Guild Holdings Co. Class A | 6,557 | 92 | |
Westwood Holdings Group Inc. | 7,041 | 89 | |
Ellington Residential Mortgage REIT | 14,570 | 89 | |
* | ECB Bancorp Inc. | 7,042 | 88 |
* | Maiden Holdings Ltd. | 38,102 | 87 |
Medallion Financial Corp. | 8,839 | 87 | |
* | USCB Financial Holdings Inc. | 7,092 | 87 |
* | Kingsway Financial Services Inc. | 10,215 | 86 |
* | Provident Bancorp Inc. | 8,209 | 83 |
Nexpoint Real Estate Finance Inc. | 5,255 | 83 | |
Silvercrest Asset Management Group Inc. Class A | 4,801 | 82 | |
Great Ajax Corp. | 15,005 | 80 | |
* | Consumer Portfolio Services Inc. | 8,509 | 80 |
* | Hippo Holdings Inc. | 8,539 | 78 |
Bank7 Corp. | 2,764 | 76 | |
Territorial Bancorp Inc. | 6,581 | 73 | |
Hawthorn Bancshares Inc. | 2,891 | 73 | |
Angel Oak Mortgage REIT Inc. | 6,897 | 73 | |
* | ACRES Commercial Realty Corp. | 7,472 | 72 |
Old Point Financial Corp. | 4,032 | 71 | |
Provident Financial Holdings Inc. | 5,547 | 70 |
Shares | Market Value• ($000) | ||
Linkbancorp Inc. | 8,740 | 70 | |
Sachem Capital Corp. | 18,378 | 69 | |
* | BV Financial Inc. | 4,787 | 68 |
OP Bancorp | 5,995 | 66 | |
First Northwest Bancorp | 3,959 | 63 | |
Lument Finance Trust Inc. | 27,115 | 63 | |
Eagle Bancorp Montana Inc. | 3,864 | 61 | |
Finward Bancorp | 2,353 | 59 | |
* | Oportun Financial Corp. | 14,660 | 57 |
* | Dave Inc. | 6,507 | 55 |
First Guaranty Bancshares Inc. | 4,672 | 52 | |
Summit State Bank | 4,372 | 52 | |
First National Corp. | 2,392 | 52 | |
Franklin Financial Services Corp. | 1,572 | 50 | |
AmeriServ Financial Inc. | 15,247 | 49 | |
* | Security National Financial Corp. Class A | 5,230 | 47 |
BankFinancial Corp. | 4,443 | 46 | |
* | Luther Burbank Corp. | 4,292 | 46 |
First Savings Financial Group Inc. | 2,763 | 46 | |
US Global Investors Inc. Class A | 15,552 | 44 | |
Riverview Bancorp Inc. | 6,661 | 43 | |
* | GoHealth Inc. Class A | 3,042 | 41 |
* | Caret Holdings Inc. Class A | 3,646 | 38 |
* | Great Elm Group Inc. | 18,596 | 36 |
Manhattan Bridge Capital Inc. | 6,830 | 34 | |
Blue Ridge Bankshares Inc. | 9,916 | 30 | |
First Capital Inc. | 1,076 | 29 | |
Hanover Bancorp Inc. | 1,490 | 26 | |
First Financial Northwest Inc. | 1,845 | 25 | |
* | Nicholas Financial Inc. | 3,692 | 25 |
Hennessy Advisors Inc. | 3,282 | 22 | |
* | Broadway Financial Corp | 3,045 | 20 |
* | Kingstone Cos. Inc. | 8,512 | 18 |
Safeguard Scientifics Inc. | 17,737 | 14 | |
* | Curo Group Holdings Corp. | 12,507 | 10 |
* | Conifer Holdings Inc. | 4,822 | 5 |
3,362,947 | |||
Health Care (12.0%) | |||
Eli Lilly & Co. | 572,764 | 333,876 | |
UnitedHealth Group Inc. | 619,875 | 326,346 | |
Johnson & Johnson | 1,613,575 | 252,912 | |
Merck & Co. Inc. | 1,698,979 | 185,223 | |
AbbVie Inc. | 1,183,337 | 183,382 |
Shares | Market Value• ($000) | ||
Thermo Fisher Scientific Inc. | 258,918 | 137,431 | |
Abbott Laboratories | 1,163,865 | 128,107 | |
Pfizer Inc. | 3,786,979 | 109,027 | |
Amgen Inc. | 358,752 | 103,328 | |
Danaher Corp. | 445,800 | 103,131 | |
* | Intuitive Surgical Inc. | 236,300 | 79,718 |
Elevance Health Inc. | 157,564 | 74,301 | |
Medtronic plc | 891,971 | 73,481 | |
* | Vertex Pharmaceuticals Inc. | 172,780 | 70,302 |
Bristol-Myers Squibb Co. | 1,364,638 | 70,020 | |
Stryker Corp. | 229,008 | 68,579 | |
Gilead Sciences Inc. | 835,592 | 67,691 | |
* | Regeneron Pharmaceuticals Inc. | 68,042 | 59,761 |
Cigna Group | 196,317 | 58,787 | |
* | Boston Scientific Corp. | 980,775 | 56,699 |
Zoetis Inc. | 277,234 | 54,718 | |
Becton Dickinson & Co. | 194,872 | 47,516 | |
Humana Inc. | 82,616 | 37,822 | |
HCA Healthcare Inc. | 134,594 | 36,432 | |
* | DexCom Inc. | 259,733 | 32,230 |
* | Edwards Lifesciences Corp. | 407,254 | 31,053 |
* | IDEXX Laboratories Inc. | 55,726 | 30,931 |
* | IQVIA Holdings Inc. | 122,305 | 28,299 |
Agilent Technologies Inc. | 196,290 | 27,290 | |
* | Centene Corp. | 358,784 | 26,625 |
* | Biogen Inc. | 97,247 | 25,165 |
* | Moderna Inc. | 230,596 | 22,933 |
GE Healthcare Inc. | 259,791 | 20,087 | |
West Pharmaceutical Services Inc. | 49,550 | 17,448 | |
Zimmer Biomet Holdings Inc. | 139,903 | 17,026 | |
* | Veeva Systems Inc. Class A | 88,160 | 16,973 |
ResMed Inc. | 98,431 | 16,932 | |
Cardinal Health Inc. | 165,167 | 16,649 | |
* | Alnylam Pharmaceuticals Inc. | 83,841 | 16,048 |
* | Illumina Inc. | 106,002 | 14,760 |
STERIS plc | 65,900 | 14,488 | |
* | Molina Healthcare Inc. | 39,039 | 14,105 |
* | Align Technology Inc. | 48,579 | 13,311 |
Baxter International Inc. | 339,700 | 13,133 | |
Laboratory Corp. of America Holdings | 56,923 | 12,938 | |
Cooper Cos. Inc. | 33,026 | 12,498 | |
* | BioMarin Pharmaceutical Inc. | 126,753 | 12,222 |
* | Hologic Inc. | 161,885 | 11,567 |
* | Avantor Inc. | 452,561 | 10,332 |
Quest Diagnostics Inc. | 74,718 | 10,302 | |
* | Insulet Corp. | 46,863 | 10,168 |
Revvity Inc. | 83,104 | 9,084 | |
* | Exact Sciences Corp. | 121,725 | 9,005 |
* | Neurocrine Biosciences Inc. | 66,084 | 8,707 |
Shares | Market Value• ($000) | ||
Viatris Inc. | 799,444 | 8,658 | |
Bio-Techne Corp. | 106,087 | 8,186 | |
* | Charles River Laboratories International Inc. | 34,153 | 8,074 |
* | Incyte Corp. | 126,743 | 7,958 |
Teleflex Inc. | 31,366 | 7,821 | |
Royalty Pharma plc Class A | 255,916 | 7,189 | |
* | United Therapeutics Corp. | 31,611 | 6,951 |
* | Karuna Therapeutics Inc. | 21,873 | 6,923 |
* | Henry Schein Inc. | 87,667 | 6,637 |
* | Repligen Corp. | 35,810 | 6,439 |
* | Penumbra Inc. | 24,562 | 6,178 |
Chemed Corp. | 10,195 | 5,962 | |
Universal Health Services Inc. Class B | 39,096 | 5,960 | |
* | Sarepta Therapeutics Inc. | 59,961 | 5,782 |
* | Cytokinetics Inc. | 67,420 | 5,629 |
* | ImmunoGen Inc. | 178,935 | 5,305 |
* | Catalent Inc. | 115,317 | 5,181 |
* | Tenet Healthcare Corp. | 67,626 | 5,110 |
* | Exelixis Inc. | 210,445 | 5,049 |
* | Medpace Holdings Inc. | 16,473 | 5,049 |
DENTSPLY SIRONA Inc. | 140,747 | 5,009 | |
* | Jazz Pharmaceuticals plc | 40,157 | 4,939 |
* | Elanco Animal Health Inc. (XNYS) | 328,302 | 4,892 |
* | Natera Inc. | 77,038 | 4,826 |
* | Shockwave Medical Inc. | 24,800 | 4,726 |
* | Ionis Pharmaceuticals Inc. | 91,207 | 4,614 |
* | Acadia Healthcare Co. Inc. | 59,112 | 4,597 |
Encompass Health Corp. | 67,155 | 4,481 | |
Bruker Corp. | 60,916 | 4,476 | |
* | Intra-Cellular Therapies Inc. | 61,899 | 4,433 |
* | Bio-Rad Laboratories Inc. Class A | 13,537 | 4,371 |
Ensign Group Inc. | 38,034 | 4,268 | |
* | Globus Medical Inc. Class A | 80,091 | 4,268 |
* | Inspire Medical Systems Inc. | 20,040 | 4,077 |
* | Apellis Pharmaceuticals Inc. | 67,014 | 4,011 |
* | Option Care Health Inc. | 118,239 | 3,983 |
* | Masimo Corp. | 33,386 | 3,913 |
* | HealthEquity Inc. | 57,667 | 3,823 |
* | Blueprint Medicines Corp. | 40,643 | 3,749 |
* | Vaxcyte Inc. | 58,261 | 3,659 |
* | 10X Genomics Inc. Class A | 63,599 | 3,559 |
Shares | Market Value• ($000) | ||
* | Bridgebio Pharma Inc. | 88,090 | 3,556 |
* | DaVita Inc. | 33,701 | 3,530 |
* | Halozyme Therapeutics Inc. | 88,127 | 3,257 |
* | Alkermes plc | 112,891 | 3,132 |
* | Insmed Inc. | 97,836 | 3,032 |
* | REVOLUTION Medicines Inc. | 105,550 | 3,027 |
* | Haemonetics Corp. | 34,494 | 2,950 |
Perrigo Co. plc | 90,329 | 2,907 | |
* | Amicus Therapeutics Inc. | 202,229 | 2,870 |
* | Merit Medical Systems Inc. | 37,663 | 2,861 |
* | Lantheus Holdings Inc. | 45,456 | 2,818 |
* | Envista Holdings Corp. | 116,794 | 2,810 |
* | Neogen Corp. | 131,310 | 2,641 |
* | agilon health Inc. | 205,802 | 2,583 |
* | Ultragenyx Pharmaceutical Inc. | 53,841 | 2,575 |
* | ACADIA Pharmaceuticals Inc. | 80,942 | 2,534 |
Organon & Co. | 174,105 | 2,511 | |
* | Azenta Inc. | 38,317 | 2,496 |
* | Madrigal Pharmaceuticals Inc. | 10,726 | 2,482 |
* | Teladoc Health Inc. | 115,194 | 2,482 |
* | Glaukos Corp. | 30,933 | 2,459 |
* | QuidelOrtho Corp. | 33,212 | 2,448 |
* | Evolent Health Inc. Class A | 73,590 | 2,431 |
CONMED Corp. | 20,893 | 2,288 | |
* | Mirati Therapeutics Inc. | 38,939 | 2,288 |
* | Integer Holdings Corp. | 22,540 | 2,233 |
* | Inari Medical Inc. | 32,170 | 2,088 |
* | Axonics Inc. | 33,508 | 2,085 |
* | Amedisys Inc. | 21,896 | 2,081 |
* | iRhythm Technologies Inc. | 19,438 | 2,081 |
* | Cerevel Therapeutics Holdings Inc. | 48,961 | 2,076 |
* | Fortrea Holdings Inc. | 58,912 | 2,056 |
* | Prestige Consumer Healthcare Inc. | 33,520 | 2,052 |
* | Doximity Inc. Class A | 73,069 | 2,049 |
* | Arrowhead Pharmaceuticals Inc. | 66,161 | 2,025 |
* | Axsome Therapeutics Inc. | 25,415 | 2,023 |
* | Guardant Health Inc. | 74,211 | 2,007 |
* | Integra LifeSciences Holdings Corp. | 45,806 | 1,995 |
* | Progyny Inc. | 52,986 | 1,970 |
* | Krystal Biotech Inc. | 15,736 | 1,952 |
* | Rhythm Pharmaceuticals Inc. | 40,626 | 1,868 |
* | Cymabay Therapeutics Inc. | 77,981 | 1,842 |
* | Intellia Therapeutics Inc. | 59,124 | 1,803 |
* | Pacific Biosciences of California Inc. | 183,137 | 1,797 |
* | Enovis Corp. | 32,007 | 1,793 |
Shares | Market Value• ($000) | ||
Premier Inc. Class A | 79,437 | 1,776 | |
* | Corcept Therapeutics Inc. | 53,616 | 1,741 |
*,1 | Ginkgo Bioworks Holdings Inc. | 1,006,233 | 1,701 |
* | TransMedics Group Inc. | 21,384 | 1,688 |
* | Nuvalent Inc. Class A | 22,871 | 1,683 |
* | Immunovant Inc. | 39,614 | 1,669 |
Patterson Cos. Inc. | 57,704 | 1,642 | |
Select Medical Holdings Corp. | 69,495 | 1,633 | |
* | Surgery Partners Inc. | 50,855 | 1,627 |
* | CorVel Corp. | 6,464 | 1,598 |
* | TG Therapeutics Inc. | 92,514 | 1,580 |
* | ICU Medical Inc. | 15,644 | 1,560 |
* | Amphastar Pharmaceuticals Inc. | 25,012 | 1,547 |
* | Privia Health Group Inc. | 66,279 | 1,526 |
* | SpringWorks Therapeutics Inc. | 41,029 | 1,498 |
* | Denali Therapeutics Inc. | 68,961 | 1,480 |
* | Crinetics Pharmaceuticals Inc. | 41,525 | 1,477 |
* | Certara Inc. | 82,746 | 1,455 |
* | PTC Therapeutics Inc. | 51,992 | 1,433 |
* | NeoGenomics Inc. | 88,491 | 1,432 |
* | Ideaya Biosciences Inc. | 39,781 | 1,415 |
* | Celldex Therapeutics Inc. | 35,535 | 1,409 |
* | Rocket Pharmaceuticals Inc. | 46,898 | 1,406 |
* | Arcellx Inc. | 25,140 | 1,395 |
* | Veracyte Inc. | 50,564 | 1,391 |
* | Twist Bioscience Corp. | 37,019 | 1,365 |
* | Iovance Biotherapeutics Inc. | 159,618 | 1,298 |
* | RadNet Inc. | 37,320 | 1,298 |
* | Beam Therapeutics Inc. | 47,486 | 1,293 |
* | Arvinas Inc. | 30,886 | 1,271 |
* | Dynavax Technologies Corp. | 90,730 | 1,268 |
* | Tandem Diabetes Care Inc. | 42,362 | 1,253 |
* | PROCEPT BioRobotics Corp. | 29,780 | 1,248 |
* | Apollo Medical Holdings Inc. | 32,200 | 1,233 |
* | Catalyst Pharmaceuticals Inc. | 69,580 | 1,170 |
* | Viking Therapeutics Inc. | 62,540 | 1,164 |
* | Vericel Corp. | 31,914 | 1,136 |
* | AtriCure Inc. | 31,794 | 1,135 |
* | Myriad Genetics Inc. | 59,007 | 1,129 |
* | Sotera Health Co. | 66,690 | 1,124 |
* | Omnicell Inc. | 29,409 | 1,107 |
* | Syndax Pharmaceuticals Inc. | 51,212 | 1,107 |
* | R1 RCM Inc. | 102,085 | 1,079 |
* | Recursion Pharmaceuticals Inc. Class A | 109,042 | 1,075 |
* | Novocure Ltd. | 69,805 | 1,042 |
Shares | Market Value• ($000) | ||
* | Ironwood Pharmaceuticals Inc. | 89,809 | 1,027 |
* | Supernus Pharmaceuticals Inc. | 35,504 | 1,027 |
* | Inhibrx Inc. | 26,856 | 1,021 |
* | Addus HomeCare Corp. | 10,934 | 1,015 |
* | STAAR Surgical Co. | 31,579 | 986 |
* | RayzeBio Inc. | 15,689 | 975 |
* | Owens & Minor Inc. | 50,511 | 973 |
* | Pacira BioSciences Inc. | 28,710 | 969 |
* | Alphatec Holdings Inc. | 63,076 | 953 |
US Physical Therapy Inc. | 10,104 | 941 | |
* | Mirum Pharmaceuticals Inc. | 31,401 | 927 |
* | Ardelyx Inc. | 146,614 | 909 |
* | UFP Technologies Inc. | 5,138 | 884 |
* | BioCryst Pharmaceuticals Inc. | 146,295 | 876 |
* | Hims & Hers Health Inc. | 98,255 | 874 |
* | Relay Therapeutics Inc. | 77,937 | 858 |
* | Xencor Inc. | 39,729 | 843 |
* | Protagonist Therapeutics Inc. | 36,191 | 830 |
* | Agios Pharmaceuticals Inc. | 36,572 | 814 |
* | Sage Therapeutics Inc. | 37,521 | 813 |
National HealthCare Corp. | 8,649 | 799 | |
* | Viridian Therapeutics Inc. | 36,549 | 796 |
* | Phreesia Inc. | 34,256 | 793 |
* | Warby Parker Inc. Class A | 56,145 | 792 |
* | Morphic Holding Inc. | 26,581 | 768 |
* | Scholar Rock Holding Corp. | 40,726 | 766 |
* | Akero Therapeutics Inc. | 32,547 | 760 |
* | Harmony Biosciences Holdings Inc. | 23,247 | 751 |
* | Geron Corp. (XNGS) | 355,050 | 749 |
LeMaitre Vascular Inc. | 12,968 | 736 | |
* | Avanos Medical Inc. | 32,399 | 727 |
* | Ligand Pharmaceuticals Inc. | 10,173 | 727 |
Embecta Corp. | 37,671 | 713 | |
* | Kura Oncology Inc. | 48,316 | 695 |
* | Brookdale Senior Living Inc. | 117,747 | 685 |
* | Vir Biotechnology Inc. | 67,206 | 676 |
* | Kymera Therapeutics Inc. | 26,515 | 675 |
* | RxSight Inc. | 16,736 | 675 |
* | Collegium Pharmaceutical Inc. | 21,847 | 672 |
* | Cytek Biosciences Inc. | 71,870 | 655 |
* | Cabaletta Bio Inc. | 28,388 | 644 |
* | ADMA Biologics Inc. | 141,451 | 639 |
* | Rapt Therapeutics Inc. | 25,392 | 631 |
* | Quanterix Corp. | 22,735 | 622 |
Shares | Market Value• ($000) | ||
* | EyePoint Pharmaceuticals Inc. | 26,781 | 619 |
* | MiMedx Group Inc. | 70,033 | 614 |
* | Keros Therapeutics Inc. | 15,051 | 598 |
* | Alignment Healthcare Inc. | 69,296 | 597 |
* | Day One Biopharmaceuticals Inc. | 40,860 | 597 |
* | Pliant Therapeutics Inc. | 32,770 | 593 |
* | Deciphera Pharmaceuticals Inc. | 36,644 | 591 |
*,1 | Cassava Sciences Inc. | 26,237 | 591 |
* | Verve Therapeutics Inc. | 42,135 | 587 |
* | Soleno Therapeutics Inc. | 14,591 | 587 |
* | MannKind Corp. | 160,991 | 586 |
* | Arcus Biosciences Inc. | 30,654 | 585 |
* | Editas Medicine Inc. | 57,163 | 579 |
* | Accolade Inc. | 48,104 | 578 |
* | 89bio Inc. | 51,642 | 577 |
* | Disc Medicine Inc. | 9,765 | 564 |
* | ANI Pharmaceuticals Inc. | 10,210 | 563 |
* | Varex Imaging Corp. | 27,432 | 562 |
* | Innoviva Inc. | 34,734 | 557 |
* | Amneal Pharmaceuticals Inc. | 91,556 | 556 |
* | Alpine Immune Sciences Inc. | 28,788 | 549 |
* | Amylyx Pharmaceuticals Inc. | 36,686 | 540 |
* | Healthcare Services Group Inc. | 51,351 | 532 |
* | Pediatrix Medical Group Inc. | 55,482 | 516 |
* | SI-BONE Inc. | 24,527 | 515 |
* | Zentalis Pharmaceuticals Inc. | 34,017 | 515 |
* | 4D Molecular Therapeutics Inc. | 24,930 | 505 |
National Research Corp. | 12,703 | 503 | |
* | Arcturus Therapeutics Holdings Inc. | 15,956 | 503 |
* | Maravai LifeSciences Holdings Inc. Class A | 74,883 | 490 |
* | Olema Pharmaceuticals Inc. | 34,371 | 482 |
* | Nevro Corp. | 22,284 | 480 |
* | Avidity Biosciences Inc. | 52,805 | 478 |
* | Revance Therapeutics Inc. | 54,270 | 477 |
* | Artivion Inc. | 26,298 | 470 |
*,1 | ImmunityBio Inc. | 90,514 | 454 |
*,1 | Anavex Life Sciences Corp. | 48,655 | 453 |
* | OmniAb Inc. | 72,981 | 450 |
* | Zymeworks Inc. | 42,912 | 446 |
* | CareDx Inc. | 36,939 | 443 |
* | Travere Therapeutics Inc. | 49,248 | 443 |
* | REGENXBIO Inc. | 24,573 | 441 |
Shares | Market Value• ($000) | ||
* | BioLife Solutions Inc. | 25,648 | 417 |
HealthStream Inc. | 15,412 | 417 | |
* | OPKO Health Inc. | 273,854 | 414 |
* | Adaptive Biotechnologies Corp. | 83,604 | 410 |
* | Marinus Pharmaceuticals Inc. | 37,627 | 409 |
* | Tarsus Pharmaceuticals Inc. | 20,054 | 406 |
* | Dyne Therapeutics Inc. | 30,414 | 404 |
*,1 | Novavax Inc. | 84,056 | 403 |
* | Savara Inc. | 85,084 | 400 |
* | Liquidia Corp. | 33,257 | 400 |
* | Ambrx Biopharma Inc. | 28,118 | 400 |
* | MacroGenics Inc. | 41,349 | 398 |
* | OraSure Technologies Inc. | 47,836 | 392 |
* | LifeStance Health Group Inc. | 49,785 | 390 |
* | Acelyrin Inc. | 52,232 | 390 |
* | Fulgent Genetics Inc. | 13,415 | 388 |
* | Treace Medical Concepts Inc. | 30,249 | 386 |
* | Tango Therapeutics Inc. | 38,224 | 378 |
* | Evolus Inc. | 35,670 | 376 |
* | Apogee Therapeutics Inc. | 13,123 | 367 |
* | AdaptHealth Corp. | 49,976 | 364 |
* | PetIQ Inc. | 18,318 | 362 |
Atrion Corp. | 950 | 360 | |
* | Health Catalyst Inc. | 38,571 | 357 |
* | An2 Therapeutics Inc. | 17,261 | 354 |
* | Edgewise Therapeutics Inc. | 32,287 | 353 |
* | Kiniksa Pharmaceuticals Ltd. Class A | 19,941 | 350 |
* | Sana Biotechnology Inc. | 85,796 | 350 |
* | Multiplan Corp. | 240,079 | 346 |
* | Enhabit Inc. | 33,323 | 345 |
* | Altimmune Inc. | 30,386 | 342 |
* | Zimvie Inc. | 18,957 | 336 |
* | GoodRx Holdings Inc. Class A | 49,148 | 329 |
* | Orthofix Medical Inc. | 24,357 | 328 |
* | Castle Biosciences Inc. | 15,171 | 327 |
* | ALX Oncology Holdings Inc. | 21,569 | 321 |
* | Cogent Biosciences Inc. | 54,368 | 320 |
* | DocGo Inc. | 56,968 | 318 |
* | Surmodics Inc. | 8,541 | 310 |
* | Organogenesis Holdings Inc. | 75,365 | 308 |
* | Pulmonx Corp. | 23,982 | 306 |
* | OrthoPediatrics Corp. | 9,379 | 305 |
* | HilleVax Inc. | 18,825 | 302 |
* | ORIC Pharmaceuticals Inc. | 32,768 | 301 |
* | Silk Road Medical Inc. | 24,464 | 300 |
* | MaxCyte Inc. | 63,539 | 299 |
Shares | Market Value• ($000) | ||
* | Caribou Biosciences Inc. | 51,927 | 298 |
Tourmaline Bio Inc. | 11,089 | 290 | |
* | Nurix Therapeutics Inc. | 27,960 | 289 |
* | Icosavax Inc. | 18,146 | 286 |
* | Replimune Group Inc. | 33,816 | 285 |
* | Alector Inc. | 35,666 | 285 |
* | Fulcrum Therapeutics Inc. | 41,311 | 279 |
* | Community Health Systems Inc. | 88,429 | 277 |
* | CVRx Inc. | 8,704 | 274 |
* | AnaptysBio Inc. | 12,747 | 273 |
* | Avid Bioservices Inc. | 41,974 | 273 |
* | Pennant Group Inc. | 19,258 | 268 |
* | ModivCare Inc. | 6,033 | 265 |
* | Paragon 28 Inc. | 21,144 | 263 |
*,1 | Biomea Fusion Inc. | 17,973 | 261 |
* | Lyell Immunopharma Inc. | 133,452 | 259 |
* | Theravance Biopharma Inc. | 22,737 | 256 |
*,1 | Prime Medicine Inc. | 28,911 | 256 |
* | Cerus Corp. | 117,250 | 253 |
* | Immunome Inc. | 23,538 | 252 |
* | Anika Therapeutics Inc. | 11,076 | 251 |
* | Nkarta Inc. | 37,665 | 249 |
* | SomaLogic Inc. | 97,861 | 248 |
* | Vera Therapeutics Inc. | 16,082 | 247 |
iRadimed Corp. | 5,161 | 245 | |
* | Tactile Systems Technology Inc. | 17,169 | 245 |
* | Allogene Therapeutics Inc. | 75,178 | 241 |
* | Coherus Biosciences Inc. | 72,373 | 241 |
* | Harrow Inc. | 21,068 | 236 |
* | Voyager Therapeutics Inc. | 27,939 | 236 |
* | Arbutus Biopharma Corp. | 94,484 | 236 |
* | American Well Corp. Class A | 158,201 | 236 |
* | Ocular Therapeutix Inc. | 52,253 | 233 |
* | Avita Medical Inc. | 16,954 | 233 |
* | Axogen Inc. | 32,599 | 223 |
* | Phathom Pharmaceuticals Inc. | 24,407 | 223 |
* | KalVista Pharmaceuticals Inc. | 17,876 | 219 |
* | Sharecare Inc. | 197,135 | 213 |
* | Fennec Pharmaceuticals Inc. | 18,720 | 210 |
* | Celcuity Inc. | 14,331 | 209 |
*,1 | Enliven Therapeutics Inc. | 14,831 | 205 |
* | iTeos Therapeutics Inc. | 18,508 | 203 |
* | Fate Therapeutics Inc. | 54,076 | 202 |
* | Scilex Holding Co. (XNCM) | 98,337 | 201 |
* | AngioDynamics Inc. | 25,475 | 200 |
* | 908 Devices Inc. | 17,668 | 198 |
Shares | Market Value• ($000) | ||
* | Summit Therapeutics Inc. (XNMS) | 75,930 | 198 |
* | Clover Health Investments Corp. | 207,451 | 197 |
Agenus Inc. | 236,170 | 196 | |
* | Outset Medical Inc. | 35,262 | 191 |
* | Talkspace Inc. | 75,188 | 191 |
* | Cullinan Oncology Inc. | 18,523 | 189 |
*,1 | Entrada Therapeutics Inc. | 12,169 | 184 |
* | Xeris Biopharma Holdings Inc. | 78,258 | 184 |
* | Invivyd Inc. | 45,821 | 181 |
* | Agiliti Inc. | 22,749 | 180 |
* | Bluebird Bio Inc. | 129,160 | 178 |
* | Aura Biosciences Inc. | 19,830 | 176 |
* | Korro Bio Inc. | 3,681 | 176 |
* | Sutro Biopharma Inc. | 40,875 | 175 |
* | Aerovate Therapeutics Inc. | 7,673 | 174 |
* | Esperion Therapeutics Inc. | 57,940 | 173 |
* | Astria Therapeutics Inc. | 22,465 | 173 |
* | Mersana Therapeutics Inc. | 74,321 | 172 |
* | Rigel Pharmaceuticals Inc. | 118,372 | 172 |
* | Terns Pharmaceuticals Inc. | 26,275 | 171 |
* | Genelux Corp. | 12,171 | 170 |
* | Taysha Gene Therapies Inc. | 94,415 | 167 |
* | Monte Rosa Therapeutics Inc. | 29,490 | 167 |
* | Zynex Inc. | 15,250 | 166 |
* | Atea Pharmaceuticals Inc. | 54,141 | 165 |
* | Verastem Inc. | 20,279 | 165 |
Utah Medical Products Inc. | 1,908 | 161 | |
* | Accuray Inc. | 56,460 | 160 |
* | Y-mAbs Therapeutics Inc. | 23,165 | 158 |
* | Zevra Therapeutics Inc. | 24,085 | 158 |
* | Vanda Pharmaceuticals Inc. | 37,164 | 157 |
* | 23andMe Holding Co. Class A | 172,212 | 157 |
* | 2seventy bio Inc. | 36,686 | 157 |
Phibro Animal Health Corp. Class A | 13,442 | 156 | |
* | C4 Therapeutics Inc. | 27,453 | 155 |
*,1 | Senseonics Holdings Inc. | 269,188 | 153 |
* | OptimizeRx Corp. | 10,556 | 151 |
* | Poseida Therapeutics Inc. | 44,843 | 151 |
* | Nuvation Bio Inc. | 100,004 | 151 |
*,1 | Sera Prognostics Inc. Class A | 25,316 | 151 |
*,1 | Shattuck Labs Inc. | 21,109 | 150 |
Shares | Market Value• ($000) | ||
* | Akebia Therapeutics Inc. | 115,906 | 144 |
* | Gossamer Bio Inc. | 153,515 | 140 |
* | Aldeyra Therapeutics Inc. | 39,700 | 139 |
* | Puma Biotechnology Inc. | 31,801 | 138 |
* | Immuneering Corp. Class A | 18,782 | 138 |
*,1 | Omeros Corp. | 41,682 | 136 |
SIGA Technologies Inc. | 24,311 | 136 | |
* | Sanara Medtech Inc. | 3,304 | 136 |
* | Harvard Bioscience Inc. | 25,313 | 135 |
*,1 | Pulse Biosciences Inc. | 11,003 | 135 |
*,1 | Zomedica Corp. | 672,102 | 135 |
* | Dianthus Therapeutics Inc. | 12,650 | 132 |
* | Ovid therapeutics Inc. | 40,633 | 131 |
* | ClearPoint Neuro Inc. | 19,277 | 131 |
* | Annexon Inc. | 28,844 | 131 |
* | Praxis Precision Medicines Inc. | 5,877 | 131 |
* | Semler Scientific Inc. | 2,930 | 130 |
* | Codexis Inc. | 41,959 | 128 |
* | Orchestra BioMed Holdings Inc. | 13,952 | 127 |
*,1 | Harpoon Therapeutics Inc. | 11,186 | 127 |
* | Heron Therapeutics Inc. | 73,891 | 126 |
* | Lexicon Pharmaceuticals Inc. | 81,719 | 125 |
* | Standard Bio Tools Inc. | 55,941 | 124 |
*,2 | PDL BioPharma Inc. | 76,234 | 123 |
* | Lyra Therapeutics Inc. | 23,364 | 122 |
* | Viemed Healthcare Inc. | 15,567 | 122 |
* | Absci Corp. | 28,820 | 121 |
* | Enanta Pharmaceuticals Inc. | 12,671 | 119 |
* | Joint Corp. | 12,384 | 119 |
* | Larimar Therapeutics Inc. | 26,178 | 119 |
* | Augmedix Inc. | 20,408 | 119 |
* | Abeona Therapeutics Inc. | 23,529 | 118 |
* | CorMedix Inc. | 30,814 | 116 |
* | Stoke Therapeutics Inc. | 21,635 | 114 |
* | Third Harmonic Bio Inc. | 10,433 | 114 |
* | Precigen Inc. | 84,404 | 113 |
* | Arcutis Biotherapeutics Inc. | 34,869 | 113 |
* | Nautilus Biotechnology Inc. | 37,768 | 113 |
* | TScan Therapeutics Inc. | 19,120 | 111 |
* | Mineralys Therapeutics Inc. | 12,895 | 111 |
* | Allakos Inc. | 39,930 | 109 |
*,1 | Invitae Corp. | 174,382 | 109 |
* | Lineage Cell Therapeutics Inc. | 99,941 | 109 |
* | Merrimack Pharmaceuticals Inc. | 8,157 | 109 |
Shares | Market Value• ($000) | ||
*,1 | Vistagen Therapeutics Inc. | 21,184 | 109 |
* | Quantum-Si Inc. | 53,609 | 108 |
* | Tela Bio Inc. | 16,235 | 107 |
* | Optinose Inc. | 81,301 | 105 |
* | Tyra Biosciences Inc. | 7,492 | 104 |
* | X4 Pharmaceuticals Inc. | 120,734 | 101 |
* | Inovio Pharmaceuticals Inc. | 195,712 | 100 |
* | Innovage Holding Corp. | 16,618 | 100 |
* | InfuSystem Holdings Inc. | 9,429 | 99 |
* | Myomo Inc. | 19,705 | 99 |
* | Longboard Pharmaceuticals Inc. | 16,186 | 98 |
* | Inozyme Pharma Inc. | 22,831 | 97 |
* | GlycoMimetics Inc. | 39,833 | 94 |
* | Capricor Therapeutics Inc. | 19,231 | 94 |
* | FONAR Corp. | 4,742 | 93 |
* | Actinium Pharmaceuticals Inc. | 18,282 | 93 |
* | Sight Sciences Inc. | 17,966 | 93 |
* | Computer Programs and Systems Inc. | 8,198 | 92 |
* | Seres Therapeutics Inc. | 66,052 | 92 |
* | ARS Pharmaceuticals Inc. | 16,780 | 92 |
* | Humacyte Inc. | 32,332 | 92 |
* | PMV Pharmaceuticals Inc. | 29,279 | 91 |
* | Foghorn Therapeutics Inc. | 13,954 | 90 |
* | Butterfly Network Inc. | 83,265 | 90 |
* | Applied Therapeutics Inc. | 26,670 | 89 |
* | Relmada Therapeutics Inc. | 21,534 | 89 |
* | Aveanna Healthcare Holdings Inc. | 33,268 | 89 |
* | Erasca Inc. | 40,997 | 87 |
* | Compass Therapeutics Inc. | 55,213 | 86 |
* | XOMA Corp. | 4,608 | 85 |
* | PDS Biotechnology Corp. | 17,161 | 85 |
* | scPharmaceuticals Inc. | 13,399 | 84 |
*,1 | Annovis Bio Inc. | 4,518 | 84 |
* | Inogen Inc. | 15,064 | 83 |
* | Tenaya Therapeutics Inc. | 25,755 | 83 |
* | Anixa Biosciences Inc. | 21,079 | 82 |
*,1 | IGM Biosciences Inc. | 9,841 | 82 |
*,1 | CEL–SCI Corp. | 29,843 | 81 |
* | G1 Therapeutics Inc. | 26,630 | 81 |
* | Gritstone bio Inc. | 39,292 | 80 |
*,1 | Verrica Pharmaceuticals Inc. | 10,956 | 80 |
* | Janux Therapeutics Inc. | 7,344 | 79 |
* | Ocugen Inc. | 135,443 | 78 |
* | Atossa Therapeutics Inc. | 87,558 | 77 |
Shares | Market Value• ($000) | ||
* | Karyopharm Therapeutics Inc. | 87,962 | 76 |
* | Ventyx Biosciences Inc. | 30,664 | 76 |
* | CytomX Therapeutics Inc. | 48,168 | 75 |
* | Emergent BioSolutions Inc. | 30,037 | 72 |
* | BioAtla Inc. | 28,992 | 71 |
* | Bioventus Inc. Class A | 13,494 | 71 |
* | Biote Corp. Class A | 14,293 | 71 |
* | Nektar Therapeutics | 122,239 | 69 |
* | Achieve Life Sciences Inc. | 16,807 | 69 |
* | Eton Pharmaceuticals Inc. | 15,500 | 68 |
* | Stereotaxis Inc. | 37,475 | 66 |
* | Greenwich Lifesciences Inc. | 6,258 | 66 |
* | Assertio Holdings Inc. | 61,718 | 66 |
* | Seer Inc. | 33,292 | 65 |
*,1 | Citius Pharmaceuticals Inc. | 85,694 | 65 |
*,1 | Ocuphire Pharma Inc. | 21,645 | 65 |
* | Mural Oncology plc | 10,902 | 65 |
* | Cue Biopharma Inc. | 24,434 | 64 |
* | Akoya Biosciences Inc. | 13,086 | 64 |
Carisma Therapeutics Inc. | 21,948 | 64 | |
* | Kodiak Sciences Inc. | 20,721 | 63 |
* | Vor BioPharma Inc. | 28,015 | 63 |
* | Galectin Therapeutics Inc. | 37,318 | 62 |
*,1 | Cartesian Therapeutics Inc. (XNMS) | 89,345 | 62 |
* | Sangamo Therapeutics Inc. | 110,293 | 60 |
* | KORU Medical Systems Inc. | 24,313 | 60 |
* | enVVeno Medical Corp. | 11,710 | 60 |
* | Syros Pharmaceuticals Inc. | 7,704 | 60 |
* | Prelude Therapeutics Inc. | 13,754 | 59 |
* | Graphite Bio Inc. | 22,375 | 59 |
* | Acumen Pharmaceuticals Inc. | 15,267 | 59 |
* | Jasper Therapeutics Inc. | 74,930 | 59 |
* | Oncology Institute Inc. | 29,068 | 59 |
* | FibroGen Inc. | 65,439 | 58 |
* | Lexeo Therapeutics Inc. | 4,272 | 57 |
* | Athira Pharma Inc. | 22,843 | 55 |
* | Hyperfine Inc. | 49,477 | 55 |
* | ChromaDex Corp. | 37,499 | 54 |
* | Neuronetics Inc. | 18,525 | 54 |
* | Asensus Surgical Inc. | 165,733 | 53 |
* | NeuroPace Inc. | 5,190 | 53 |
* | Omega Therapeutics Inc. | 17,625 | 53 |
* | Adverum Biotechnologies Inc. | 67,508 | 51 |
* | Corvus Pharmaceuticals Inc. | 29,109 | 51 |
Shares | Market Value• ($000) | ||
* | Enzo Biochem Inc. | ��� 36,523 | 51 |
* | Personalis Inc. | 24,439 | 51 |
* | Black Diamond Therapeutics Inc. | 18,268 | 51 |
* | Inmune Bio Inc. | 4,464 | 50 |
* | Reviva Pharmaceuticals Holdings Inc. | 9,618 | 50 |
* | Chimerix Inc. | 50,447 | 49 |
* | Apyx Medical Corp. | 18,313 | 48 |
* | Vaxart Inc. | 82,063 | 47 |
* | Inotiv Inc. | 12,773 | 47 |
*,1 | Rani Therapeutics Holdings Inc. Class A | 14,248 | 47 |
* | Nuvectis Pharma Inc. | 5,612 | 47 |
* | XBiotech Inc. | 11,624 | 46 |
* | Century Therapeutics Inc. | 13,813 | 46 |
* | Diamedica Therapeutics Inc. | 15,764 | 45 |
* | Pro-Dex Inc. | 2,523 | 44 |
* | Bioxcel Therapeutics Inc. | 15,053 | 44 |
* | ProKidney Corp. | 24,730 | 44 |
* | Cidara Therapeutics Inc. | 54,780 | 43 |
* | Forian Inc. | 14,566 | 43 |
* | Aclaris Therapeutics Inc. | 40,404 | 42 |
* | Outlook Therapeutics Inc. | 105,871 | 42 |
* | Perspective Therapeutics Inc. | 104,951 | 42 |
* | Trevi Therapeutics Inc. | 31,348 | 42 |
* | Aquestive Therapeutics Inc. | 20,542 | 41 |
* | Generation Bio Co. | 25,032 | 41 |
* | Kezar Life Sciences Inc. | 43,585 | 41 |
* | Cardiff Oncology Inc. | 27,727 | 41 |
* | Cutera Inc. | 11,232 | 40 |
* | Clearside Biomedical Inc. | 33,371 | 39 |
* | Eagle Pharmaceuticals Inc. | 7,396 | 39 |
* | Adicet Bio Inc. | 20,544 | 39 |
* | Curis Inc. | 3,056 | 39 |
* | Theseus Pharmaceuticals Inc. | 9,484 | 38 |
* | Dyadic International Inc. | 23,051 | 37 |
* | Bionano Genomics Inc. | 19,836 | 37 |
* | Cargo Therapeutics Inc. | 1,614 | 37 |
* | Kinnate Biopharma Inc. | 15,091 | 36 |
* | Vigil Neuroscience Inc. | 10,718 | 36 |
* | Ekso Bionics Holdings Inc. | 14,085 | 35 |
* | Scynexis Inc. | 15,858 | 35 |
* | Eyenovia Inc. | 16,207 | 34 |
* | CareMax Inc. | 67,977 | 34 |
* | Vaxxinity Inc. Class A | 40,231 | 34 |
* | CytoSorbents Corp. | 29,596 | 33 |
* | Rezolute Inc. | 33,333 | 33 |
* | Matinas BioPharma Holdings Inc. | 146,195 | 32 |
* | Beyond Air Inc. | 16,450 | 32 |
* | Kronos Bio Inc. | 25,786 | 32 |
Shares | Market Value• ($000) | ||
* | P3 Health Partners Inc. | 22,736 | 32 |
* | Atara Biotherapeutics Inc. | 60,082 | 31 |
* | Passage Bio Inc. | 30,974 | 31 |
* | Acrivon Therapeutics Inc. | 6,404 | 31 |
* | Co.-Diagnostics Inc. | 22,364 | 30 |
* | Design Therapeutics Inc. | 11,218 | 30 |
* | Palatin Technologies Inc. | 7,653 | 30 |
* | Spero Therapeutics Inc. | 19,689 | 29 |
* | Dermtech Inc. | 16,722 | 29 |
* | Werewolf Therapeutics Inc. | 7,424 | 29 |
* | iCAD Inc. | 15,565 | 28 |
* | Milestone Scientific Inc. | 37,457 | 26 |
* | Sensus Healthcare Inc. | 11,106 | 26 |
* | Lantern Pharma Inc. | 5,987 | 26 |
*,1 | Rallybio Corp. | 11,052 | 26 |
* | GeneDx Holdings Corp. | 9,600 | 26 |
* | Cara Therapeutics Inc. | 33,488 | 25 |
* | NGM Biopharmaceuticals Inc. | 29,422 | 25 |
* | PepGen Inc. | 3,638 | 25 |
* | Lensar Inc. | 6,985 | 24 |
* | Eledon Pharmaceuticals Inc. | 13,263 | 24 |
Mei Pharma Inc. | 4,079 | 24 | |
* | Corbus Pharmaceuticals Holdings Inc. | 3,766 | 23 |
* | NanoString Technologies Inc. | 29,545 | 22 |
* | Movano Inc. | 28,211 | 22 |
* | Bolt Biotherapeutics Inc. | 18,932 | 21 |
* | Reneo Pharmaceuticals Inc. | 13,013 | 21 |
* | Alpha Teknova Inc. | 5,588 | 21 |
* | Aadi Bioscience Inc. | 10,337 | 21 |
* | Pyxis Oncology Inc. | 11,615 | 21 |
* | ElectroCore Inc. | 3,704 | 21 |
* | Neurogene Inc. | 1,072 | 21 |
* | Exagen Inc. | 9,919 | 20 |
* | IRIDEX Corp. | 7,102 | 20 |
*,2 | Tobira Therapeutics Inc. CVR | 4,500 | 20 |
* | Ikena Oncology Inc. | 9,909 | 20 |
* | Homology Medicines Inc. | 30,844 | 19 |
* | Lumos Pharma Inc. | 5,932 | 19 |
* | AIM ImmunoTech Inc. | 43,668 | 19 |
* | Oncternal Therapeutics Inc. | 34,025 | 18 |
* | Solid Biosciences Inc. | 2,867 | 18 |
* | CareCloud Inc. | 11,111 | 17 |
* | BioSig Technologies Inc. | 34,130 | 16 |
* | Quince Therapeutics Inc. | 14,974 | 16 |
* | Aligos Therapeutics Inc. | 24,596 | 16 |
Shares | Market Value• ($000) | ||
*,1 | SELLAS Life Sciences Group Inc. | 14,948 | 16 |
* | Rain Oncology Inc. | 13,141 | 16 |
* | Viracta Therapeutics Inc. | 28,450 | 16 |
*,1,2 | Cartesian Therapeutics Inc. | 89,345 | 16 |
* | Dare Bioscience Inc. | 44,843 | 14 |
* | Bright Health Group Inc. | 1,899 | 14 |
* | PAVmed Inc. | 3,442 | 14 |
* | Allovir Inc. | 19,387 | 13 |
* | Equillium Inc. | 17,857 | 13 |
* | Cellectar Biosciences Inc. | 4,608 | 13 |
* | Cocrystal Pharma Inc. | 7,576 | 13 |
* | Science 37 Holdings Inc. | 2,397 | 13 |
* | Strata Skin Sciences Inc. | 21,171 | 12 |
* | TherapeuticsMD Inc. | 5,486 | 12 |
* | Dominari Holdings Inc. | 4,463 | 12 |
* | Lipocine Inc. | 4,409 | 12 |
* | Onconova Therapeutics Inc. | 14,441 | 11 |
*,1 | Cano Health Inc. | 1,856 | 11 |
* | Societal CDMO Inc. | 29,155 | 10 |
* | Retractable Technologies Inc. | 9,432 | 10 |
* | Sensei Biotherapeutics Inc. | 15,072 | 10 |
* | Hepion Pharmaceuticals Inc. | 3,104 | 10 |
* | Synlogic Inc. | 2,604 | 10 |
*,1 | BrainStorm Cell Therapeutics Inc. | 33,748 | 9 |
* | Bright Green Corp. | 26,666 | 9 |
* | Durect Corp. | 15,978 | 9 |
*,2 | Spectrum Pharmaceuticals Inc. CVR | 109,299 | 9 |
* | Alaunos Therapeutics Inc. | 111,142 | 8 |
* | NRX Pharmaceuticals Inc. | 17,185 | 8 |
* | Cue Health Inc. | 51,949 | 8 |
* | Oncocyte Corp. | 3,384 | 8 |
* | Incannex Healthcare Inc. | 1,700 | 8 |
* | Orgenesis Inc. | 14,863 | 7 |
* | Genprex Inc. | 32,101 | 7 |
*,1 | MyMD Pharmaceuticals Inc. | 26,030 | 7 |
*,1 | SAB Biotherapeutics Inc. | 10,730 | 7 |
* | Molecular Templates Inc. | 1,906 | 7 |
* | Precipio Inc. | 1,034 | 7 |
* | Sagimet Biosciences Inc. Class A | 1,022 | 6 |
*,1 | Neumora Therapeutics Inc. | 360 | 6 |
Shares | Market Value• ($000) | ||
* | Surrozen Inc. | 676 | 6 |
* | Rapid Micro Biosystems Inc. Class A | 7,185 | 5 |
*,1 | Aprea Therapeutics Inc. | 1,136 | 5 |
* | eFFECTOR Therapeutics Inc. | 9,544 | 4 |
* | Instil Bio Inc. | 464 | 4 |
* | Atreca Inc. Class A | 21,020 | 3 |
* | AcelRx Pharmaceuticals Inc. | 4,532 | 3 |
*,1 | Sientra Inc. | 4,367 | 3 |
* | Seelos Therapeutics Inc. | 2,438 | 3 |
* | GT Biopharma Inc. | 6,559 | 2 |
* | Venus Concept Inc. | 1,850 | 2 |
* | Turnstone Biologics Corp. | 933 | 2 |
* | TFF Pharmaceuticals Inc. | 243 | 2 |
*,2 | Surface Oncology Inc. CVR | 15,512 | 1 |
*,2 | Synergy Pharmaceuticals LLC | 412,534 | — |
*,2 | OmniAb Inc. 12.5 Earnout | 3,939 | — |
*,2 | OmniAb Inc. 15 Earnout | 3,939 | — |
3,741,585 | |||
Industrials (13.0%) | |||
Visa Inc. Class A | 1,058,607 | 275,608 | |
Mastercard Inc. Class A | 561,039 | 239,289 | |
Accenture plc Class A | 420,503 | 147,559 | |
* | Boeing Co. | 405,711 | 105,753 |
Caterpillar Inc. | 341,375 | 100,934 | |
Union Pacific Corp. | 408,179 | 100,257 | |
General Electric Co. | 729,057 | 93,050 | |
Honeywell International Inc. | 442,078 | 92,708 | |
RTX Corp. | 965,048 | 81,199 | |
United Parcel Service Inc. Class B (XNYS) | 485,035 | 76,262 | |
Lockheed Martin Corp. | 166,336 | 75,390 | |
Deere & Co. | 173,945 | 69,555 | |
American Express Co. | 366,346 | 68,631 | |
Eaton Corp. plc | 267,669 | 64,460 | |
Automatic Data Processing Inc. | 275,827 | 64,259 | |
* | Fiserv Inc. | 401,836 | 53,380 |
Illinois Tool Works Inc. | 191,591 | 50,185 | |
Sherwin-Williams Co. | 154,448 | 48,172 | |
CSX Corp. | 1,324,735 | 45,929 | |
* | PayPal Holdings Inc. | 723,915 | 44,456 |
General Dynamics Corp. | 164,689 | 42,765 | |
Northrop Grumman Corp. | 90,815 | 42,514 | |
3M Co. | 372,617 | 40,734 | |
Parker-Hannifin Corp. | 86,125 | 39,678 | |
FedEx Corp. | 151,401 | 38,300 | |
Trane Technologies plc | 152,834 | 37,276 | |
Emerson Electric Co. | 381,177 | 37,100 | |
Norfolk Southern Corp. | 151,768 | 35,875 |
Shares | Market Value• ($000) | ||
TransDigm Group Inc. | 35,206 | 35,614 | |
Cintas Corp. | 57,975 | 34,939 | |
PACCAR Inc. | 351,219 | 34,297 | |
Carrier Global Corp. | 560,909 | 32,224 | |
Capital One Financial Corp. | 243,340 | 31,907 | |
* | Block Inc. (XNYS) | 371,487 | 28,735 |
Old Dominion Freight Line Inc. | 65,956 | 26,734 | |
L3Harris Technologies Inc. | 126,780 | 26,702 | |
Johnson Controls International plc | 457,423 | 26,366 | |
Ferguson plc | 135,982 | 26,254 | |
United Rentals Inc. | 45,514 | 26,099 | |
Paychex Inc. | 217,226 | 25,874 | |
AMETEK Inc. | 154,913 | 25,544 | |
WW Grainger Inc. | 29,936 | 24,808 | |
Otis Worldwide Corp. | 274,529 | 24,562 | |
Fidelity National Information Services Inc. | 397,664 | 23,888 | |
Rockwell Automation Inc. | 76,859 | 23,863 | |
PPG Industries Inc. | 157,639 | 23,575 | |
Verisk Analytics Inc. | 97,194 | 23,216 | |
Cummins Inc. | 94,978 | 22,754 | |
Global Payments Inc. | 174,696 | 22,186 | |
Quanta Services Inc. | 97,375 | 21,014 | |
Ingersoll Rand Inc. (XYNS) | 271,698 | 21,013 | |
Martin Marietta Materials Inc. | 41,278 | 20,594 | |
Equifax Inc. | 82,702 | 20,451 | |
Vulcan Materials Co. | 89,151 | 20,238 | |
DuPont de Nemours Inc. | 259,847 | 19,990 | |
* | Keysight Technologies Inc. | 117,885 | 18,754 |
Xylem Inc. | 160,986 | 18,410 | |
* | Fair Isaac Corp. | 15,746 | 18,329 |
* | Mettler-Toledo International Inc. | 14,577 | 17,681 |
Fortive Corp. | 234,670 | 17,279 | |
Westinghouse Air Brake Technologies Corp. | 120,471 | 15,288 | |
Howmet Aerospace Inc. | 275,844 | 14,929 | |
Dover Corp. | 93,220 | 14,338 | |
* | Teledyne Technologies Inc. | 31,491 | 14,054 |
* | Builders FirstSource Inc. | 82,793 | 13,821 |
* | FleetCor Technologies Inc. | 46,027 | 13,008 |
* | Waters Corp. | 39,486 | 13,000 |
Veralto Corp. | 156,896 | 12,906 | |
Expeditors International of Washington Inc. | 97,082 | 12,349 | |
* | Axon Enterprise Inc. | 47,559 | 12,286 |
Ball Corp. | 210,921 | 12,132 |
Shares | Market Value• ($000) | ||
Hubbell Inc. | 35,946 | 11,824 | |
Booz Allen Hamilton Holding Corp. | 87,531 | 11,196 | |
JB Hunt Transport Services Inc. | 55,280 | 11,042 | |
IDEX Corp. | 50,679 | 11,003 | |
Jacobs Solutions Inc. | 84,511 | 10,970 | |
Textron Inc. | 131,588 | 10,582 | |
Synchrony Financial | 276,825 | 10,572 | |
Carlisle Cos. Inc. | 32,688 | 10,213 | |
Snap-on Inc. | 35,075 | 10,131 | |
Stanley Black & Decker Inc. | 102,993 | 10,104 | |
Masco Corp. | 149,677 | 10,025 | |
HEICO Corp. Class A | 69,836 | 9,947 | |
Packaging Corp. of America | 60,218 | 9,810 | |
Graco Inc. | 112,205 | 9,735 | |
Watsco Inc. | 22,686 | 9,720 | |
RPM International Inc. | 86,481 | 9,654 | |
Lennox International Inc. | 21,491 | 9,618 | |
* | Zebra Technologies Corp. Class A | 34,464 | 9,420 |
Nordson Corp. | 34,081 | 9,003 | |
TransUnion | 130,333 | 8,955 | |
* | Trimble Inc. | 167,511 | 8,912 |
Owens Corning | 59,757 | 8,858 | |
AECOM | 91,240 | 8,433 | |
Lincoln Electric Holdings Inc. | 37,839 | 8,228 | |
Pentair plc | 110,620 | 8,043 | |
* | TopBuild Corp. | 21,263 | 7,958 |
Jack Henry & Associates Inc. | 48,523 | 7,929 | |
* | Saia Inc. | 17,790 | 7,796 |
Allegion plc | 58,566 | 7,420 | |
Crown Holdings Inc. | 80,473 | 7,411 | |
Westrock Co. | 174,052 | 7,227 | |
Advanced Drainage Systems Inc. | 50,017 | 7,034 | |
Huntington Ingalls Industries Inc. | 26,494 | 6,879 | |
A O Smith Corp. | 82,455 | 6,798 | |
* | Affirm Holdings Inc. | 138,305 | 6,796 |
EMCOR Group Inc. | 31,093 | 6,698 | |
Toro Co. | 69,778 | 6,698 | |
nVent Electric plc | 112,144 | 6,627 | |
ITT Inc. | 55,274 | 6,595 | |
Regal Rexnord Corp. | 44,351 | 6,565 | |
Fortune Brands Innovations Inc. | 85,150 | 6,483 | |
CH Robinson Worldwide Inc. | 74,757 | 6,458 | |
* | XPO Inc. | 73,449 | 6,433 |
* | Trex Co. Inc. | 72,128 | 5,971 |
Knight-Swift Transportation Holdings Inc. | 103,379 | 5,960 | |
Robert Half Inc. | 67,750 | 5,957 | |
Tetra Tech Inc. | 35,656 | 5,952 |
Shares | Market Value• ($000) | ||
WESCO International Inc. | 34,163 | 5,940 | |
Curtiss-Wright Corp. | 25,866 | 5,763 | |
Simpson Manufacturing Co. Inc. | 28,269 | 5,597 | |
* | WEX Inc. | 28,647 | 5,573 |
Woodward Inc. | 40,458 | 5,508 | |
* | Bill Holdings Inc. | 67,264 | 5,488 |
* | WillScot Mobile Mini Holdings Corp. | 122,481 | 5,450 |
AptarGroup Inc. | 43,843 | 5,420 | |
* | Generac Holdings Inc. | 41,268 | 5,333 |
Donaldson Co. Inc. | 81,350 | 5,316 | |
* | Middleby Corp. | 35,774 | 5,265 |
AGCO Corp. | 42,116 | 5,113 | |
* | Axalta Coating Systems Ltd. | 148,782 | 5,054 |
Graphic Packaging Holding Co. | 204,176 | 5,033 | |
Comfort Systems USA Inc. | 24,109 | 4,958 | |
Berry Global Group Inc. | 72,277 | 4,871 | |
* | API Group Corp. | 140,737 | 4,869 |
* | GXO Logistics Inc. | 78,973 | 4,830 |
Cognex Corp. | 114,966 | 4,799 | |
BWX Technologies Inc. | 62,237 | 4,775 | |
* | FTI Consulting Inc. | 23,908 | 4,761 |
Eagle Materials Inc. | 23,372 | 4,741 | |
Oshkosh Corp. | 43,529 | 4,719 | |
* | Paylocity Holding Corp. | 28,394 | 4,681 |
MKS Instruments Inc. | 44,436 | 4,571 | |
Landstar System Inc. | 23,489 | 4,549 | |
Applied Industrial Technologies Inc. | 25,997 | 4,489 | |
* | Fluor Corp. | 114,539 | 4,486 |
Brunswick Corp. | 46,062 | 4,456 | |
Littelfuse Inc. | 16,590 | 4,439 | |
Acuity Brands Inc. | 21,040 | 4,310 | |
MSA Safety Inc. | 25,267 | 4,266 | |
Genpact Ltd. | 120,129 | 4,170 | |
* | Atkore Inc. | 25,355 | 4,057 |
* | Core & Main Inc. Class A | 97,222 | 3,929 |
* | ATI Inc. | 85,980 | 3,910 |
* | Chart Industries Inc. | 28,610 | 3,900 |
Crane Co. | 32,472 | 3,836 | |
Watts Water Technologies Inc. Class A | 18,246 | 3,801 | |
Sensata Technologies Holding plc | 100,461 | 3,774 | |
* | AZEK Co. Inc. | 96,451 | 3,689 |
* | Mohawk Industries Inc. | 35,602 | 3,685 |
Sonoco Products Co. | 65,724 | 3,672 | |
Flowserve Corp. | 87,966 | 3,626 | |
Vontier Corp. | 103,198 | 3,565 | |
Sealed Air Corp. | 96,939 | 3,540 | |
Maximus Inc. | 41,113 | 3,448 | |
Allison Transmission Holdings Inc. | 59,016 | 3,432 | |
* | Beacon Roofing Supply Inc. | 38,044 | 3,311 |
Shares | Market Value• ($000) | ||
Esab Corp. | 38,065 | 3,297 | |
Valmont Industries Inc. | 14,117 | 3,296 | |
Ryder System Inc. | 28,382 | 3,266 | |
AAON Inc. | 44,158 | 3,262 | |
* | ExlService Holdings Inc. | 103,968 | 3,207 |
* | MasTec Inc. | 41,857 | 3,169 |
Federal Signal Corp. | 41,051 | 3,150 | |
Louisiana-Pacific Corp. | 44,024 | 3,118 | |
* | Kirby Corp. | 39,383 | 3,091 |
MSC Industrial Direct Co. Inc. Class A | 30,423 | 3,081 | |
* | Summit Materials Inc. Class A | 79,728 | 3,066 |
Badger Meter Inc. | 19,713 | 3,043 | |
* | Euronet Worldwide Inc. | 29,691 | 3,013 |
Air Lease Corp. | 70,382 | 2,952 | |
Western Union Co. | 246,893 | 2,943 | |
* | ASGN Inc. | 30,558 | 2,939 |
HB Fuller Co. | 36,021 | 2,932 | |
Exponent Inc. | 33,228 | 2,925 | |
* | SPX Technologies Inc. | 28,923 | 2,922 |
Armstrong World Industries Inc. | 29,677 | 2,918 | |
GATX Corp. | 23,895 | 2,873 | |
Installed Building Products Inc. | 15,637 | 2,859 | |
* | Shift4 Payments Inc. Class A | 37,505 | 2,788 |
Insperity Inc. | 23,750 | 2,784 | |
Moog Inc. Class A | 19,206 | 2,781 | |
EnerSys | 27,494 | 2,776 | |
Zurn Elkay Water Solutions Corp. | 91,290 | 2,685 | |
MDU Resources Group Inc. | 133,393 | 2,641 | |
Herc Holdings Inc. | 17,583 | 2,618 | |
FTAI Aviation Ltd. | 56,335 | 2,614 | |
ManpowerGroup Inc. | 32,658 | 2,595 | |
Brink's Co. | 29,083 | 2,558 | |
Franklin Electric Co. Inc. | 26,153 | 2,528 | |
* | Knife River Corp. | 38,003 | 2,515 |
Silgan Holdings Inc. | 54,296 | 2,457 | |
* | Spirit AeroSystems Holdings Inc. Class A | 77,114 | 2,451 |
Terex Corp. | 42,540 | 2,444 | |
Matson Inc. | 22,258 | 2,439 | |
Otter Tail Corp. | 28,449 | 2,417 | |
* | Verra Mobility Corp. | 104,707 | 2,411 |
* | Itron Inc. | 31,043 | 2,344 |
* | AeroVironment Inc. | 18,502 | 2,332 |
Hillenbrand Inc. | 47,595 | 2,277 | |
* | ACI Worldwide Inc. | 73,391 | 2,246 |
Enpro Inc. | 14,248 | 2,233 | |
* | Aurora Innovation Inc. | 508,071 | 2,220 |
* | GMS Inc. | 26,923 | 2,219 |
* | TriNet Group Inc. | 18,622 | 2,215 |
Kadant Inc. | 7,887 | 2,211 | |
* | Dycom Industries Inc. | 19,051 | 2,193 |
* | Marqeta Inc. Class A | 313,953 | 2,191 |
Encore Wire Corp. | 10,165 | 2,171 | |
Belden Inc. | 28,037 | 2,166 |
Shares | Market Value• ($000) | ||
CSW Industrials Inc. | 10,383 | 2,154 | |
John Bean Technologies Corp. | 21,501 | 2,138 | |
Korn Ferry | 35,706 | 2,119 | |
HEICO Corp. | 11,684 | 2,090 | |
ESCO Technologies Inc. | 17,096 | 2,001 | |
Albany International Corp. Class A | 20,196 | 1,984 | |
* | CBIZ Inc. | 31,478 | 1,970 |
* | Bloom Energy Corp. Class A | 132,066 | 1,955 |
McGrath RentCorp. | 16,300 | 1,950 | |
* | Alight Inc. Class A | 227,851 | 1,944 |
* | Modine Manufacturing Co. | 32,293 | 1,928 |
ABM Industries Inc. | 42,253 | 1,894 | |
* | AMN Healthcare Services Inc. | 25,272 | 1,892 |
UniFirst Corp. | 10,340 | 1,891 | |
ArcBest Corp. | 15,492 | 1,862 | |
EVERTEC Inc. | 45,210 | 1,851 | |
Crane NXT Co. | 32,472 | 1,847 | |
* | RXO Inc. | 78,761 | 1,832 |
Vestis Corp. | 86,658 | 1,832 | |
Werner Enterprises Inc. | 42,673 | 1,808 | |
* | Resideo Technologies Inc. | 95,827 | 1,803 |
Griffon Corp. | 29,492 | 1,798 | |
* | Hub Group Inc. Class A | 19,554 | 1,798 |
* | Sterling Infrastructure Inc. | 20,435 | 1,797 |
* | Flywire Corp. | 74,610 | 1,727 |
* | Kratos Defense & Security Solutions Inc. | 84,867 | 1,722 |
* | Remitly Global Inc. | 88,021 | 1,709 |
Brady Corp. Class A | 29,059 | 1,705 | |
* | O-I Glass Inc. | 103,048 | 1,688 |
ICF International Inc. | 12,487 | 1,674 | |
* | MYR Group Inc. | 11,527 | 1,667 |
* | Gibraltar Industries Inc. | 20,893 | 1,650 |
ADT Inc. | 238,755 | 1,628 | |
Mueller Water Products Inc. Class A | 107,014 | 1,541 | |
Granite Construction Inc. | 29,933 | 1,522 | |
Trinity Industries Inc. | 55,583 | 1,478 | |
* | PGT Innovations Inc. | 36,106 | 1,470 |
Alamo Group Inc. | 6,965 | 1,464 | |
Kennametal Inc. | 56,262 | 1,451 | |
* | OSI Systems Inc. | 11,131 | 1,436 |
* | Joby Aviation Inc. | 214,709 | 1,428 |
* | Gates Industrial Corp. plc | 106,060 | 1,423 |
Patrick Industries Inc. | 14,015 | 1,406 | |
* | AAR Corp. | 22,255 | 1,389 |
* | Mercury Systems Inc. | 37,014 | 1,354 |
* | AvidXchange Holdings Inc. | 105,906 | 1,312 |
International Seaways Inc. | 28,661 | 1,304 |
Shares | Market Value• ($000) | ||
Standex International Corp. | 8,184 | 1,296 | |
* | Hayward Holdings Inc. | 95,158 | 1,294 |
* | Masonite International Corp. | 14,927 | 1,264 |
* | Masterbrand Inc. | 85,069 | 1,263 |
* | Construction Partners Inc. Class A | 28,697 | 1,249 |
* | Huron Consulting Group Inc. | 12,086 | 1,242 |
* | Mirion Technologies Inc. | 119,087 | 1,221 |
Tennant Co. | 12,963 | 1,202 | |
Primoris Services Corp. | 35,682 | 1,185 | |
* | Hillman Solutions Corp. | 127,178 | 1,171 |
* | NCR Atleos Corp. | 47,812 | 1,161 |
* | Enovix Corp. | 92,192 | 1,154 |
Greif Inc. Class A | 17,445 | 1,144 | |
H&E Equipment Services Inc. | 21,434 | 1,121 | |
Forward Air Corp. | 17,731 | 1,115 | |
Bread Financial Holdings Inc. | 33,502 | 1,104 | |
* | NV5 Global Inc. | 9,889 | 1,099 |
Enerpac Tool Group Corp. | 35,260 | 1,096 | |
* | Leonardo DRS Inc. | 54,417 | 1,091 |
* | Donnelley Financial Solutions Inc. | 17,471 | 1,090 |
Barnes Group Inc. | 33,140 | 1,081 | |
* | CoreCivic Inc. | 73,790 | 1,072 |
* | Legalzoom.com Inc. | 94,695 | 1,070 |
* | Rocket Lab USA Inc. | 182,365 | 1,008 |
Helios Technologies Inc. | 22,120 | 1,003 | |
* | Janus International Group Inc. | 76,219 | 995 |
* | American Woodmark Corp. | 10,668 | 991 |
* | JELD-WEN Holding Inc. | 52,294 | 987 |
Lindsay Corp. | 7,356 | 950 | |
AZZ Inc. | 15,672 | 910 | |
Greenbrier Cos. Inc. | 20,106 | 888 | |
*,1 | Symbotic Inc. | 17,155 | 881 |
* | Payoneer Global Inc. | 166,561 | 868 |
Marten Transport Ltd. | 40,284 | 845 | |
* | Triumph Group Inc. | 50,771 | 842 |
* | Cimpress plc | 10,377 | 831 |
Wabash National Corp. | 32,081 | 822 | |
Kforce Inc. | 12,050 | 814 | |
Apogee Enterprises Inc. | 14,390 | 769 | |
Napco Security Technologies Inc. | 22,084 | 756 | |
* | Thermon Group Holdings Inc. | 23,090 | 752 |
*,1 | Archer Aviation Inc. Class A | 122,456 | 752 |
* | Aspen Aerogels Inc. | 45,965 | 725 |
* | Energy Recovery Inc. | 38,227 | 720 |
TriMas Corp. | 28,333 | 718 | |
Columbus McKinnon Corp. | 18,359 | 716 | |
* | Proto Labs Inc. | 18,265 | 712 |
* | Vicor Corp. | 15,479 | 696 |
Shares | Market Value• ($000) | ||
* | Air Transport Services Group Inc. | 39,274 | 692 |
Schneider National Inc. Class B | 26,924 | 685 | |
* | BlueLinx Holdings Inc. | 5,916 | 670 |
* | SP Plus Corp. | 13,055 | 669 |
* | Transcat Inc. | 6,030 | 659 |
*,1 | Nikola Corp. | 736,071 | 644 |
Quanex Building Products Corp. | 20,720 | 633 | |
First Advantage Corp. | 37,156 | 616 | |
* | Montrose Environmental Group Inc. | 17,944 | 577 |
* | ZipRecruiter Inc. Class A | 41,212 | 573 |
Deluxe Corp. | 26,435 | 567 | |
VSE Corp. | 8,731 | 564 | |
* | Cross Country Healthcare Inc. | 24,857 | 563 |
Astec Industries Inc. | 14,990 | 558 | |
* | Virgin Galactic Holdings Inc. | 223,513 | 548 |
* | Ducommun Inc. | 10,493 | 546 |
Pitney Bowes Inc. | 122,407 | 539 | |
* | Titan International Inc. | 35,420 | 527 |
Gorman-Rupp Co. | 14,174 | 504 | |
Barrett Business Services Inc. | 4,348 | 503 | |
Powell Industries Inc. | 5,600 | 495 | |
Insteel Industries Inc. | 12,847 | 492 | |
* | CryoPort Inc. | 31,264 | 484 |
* | International Money Express Inc. | 21,778 | 481 |
Kaman Corp. | 19,711 | 472 | |
Douglas Dynamics Inc. | 15,634 | 464 | |
Myers Industries Inc. | 23,354 | 457 | |
* | Repay Holdings Corp. | 53,054 | 453 |
Kelly Services Inc. Class A | 20,712 | 448 | |
Hyster-Yale Materials Handling Inc. | 7,142 | 444 | |
* | Blue Bird Corp. | 15,848 | 427 |
CRA International Inc. | 4,137 | 409 | |
* | Conduent Inc. | 110,060 | 402 |
Heartland Express Inc. | 28,178 | 402 | |
Heidrick & Struggles International Inc. | 13,509 | 399 | |
* | IES Holdings Inc. | 4,930 | 391 |
Ennis Inc. | 17,315 | 379 | |
* | Franklin Covey Co. | 8,643 | 376 |
*,1 | PureCycle Technologies Inc. | 92,711 | 375 |
Cadre Holdings Inc. | 11,279 | 371 | |
* | CECO Environmental Corp. | 18,094 | 367 |
United States Lime & Minerals Inc. | 1,592 | 367 | |
* | Titan Machinery Inc. | 12,688 | 366 |
Argan Inc. | 7,717 | 361 | |
Cass Information Systems Inc. | 8,004 | 361 |
Shares | Market Value• ($000) | ||
* | V2X Inc. | 7,758 | 360 |
Mesa Laboratories Inc. | 3,399 | 356 | |
REV Group Inc. | 19,601 | 356 | |
* | Manitowoc Co. Inc. | 20,774 | 347 |
Eagle Bulk Shipping Inc. | 5,976 | 331 | |
Allient Inc. | 10,898 | 329 | |
* | TrueBlue Inc. | 21,435 | 329 |
* | Astronics Corp. | 18,393 | 320 |
* | Sterling Check Corp. | 22,976 | 320 |
* | DXP Enterprises Inc. | 9,402 | 317 |
* | Green Dot Corp. Class A | 32,065 | 317 |
National Presto Industries Inc. | 3,924 | 315 | |
* | I3 Verticals Inc. Class A | 14,839 | 314 |
* | Great Lakes Dredge & Dock Corp. | 40,776 | 313 |
* | Hudson Technologies Inc. | 23,217 | 313 |
* | Vishay Precision Group Inc. | 9,031 | 308 |
Resources Connection Inc. | 21,381 | 303 | |
* | Evolv Technologies Holdings Inc. | 64,297 | 303 |
* | Bowman Consulting Group Ltd. | 8,369 | 297 |
FTAI Infrastructure Inc. | 74,858 | 291 | |
* | FARO Technologies Inc. | 12,657 | 285 |
* | Cantaloupe Inc. | 38,378 | 284 |
TTEC Holdings Inc. | 12,779 | 277 | |
Pactiv Evergreen Inc. | 20,016 | 274 | |
* | Distribution Solutions Group Inc. | 8,504 | 268 |
LSI Industries Inc. | 18,908 | 266 | |
* | Custom Truck One Source Inc. | 42,513 | 263 |
Shyft Group Inc. | 21,374 | 261 | |
* | Daseke Inc. | 32,052 | 260 |
Miller Industries Inc. | 6,057 | 256 | |
* | Aersale Corp. | 19,925 | 253 |
Covenant Logistics Group Inc. | 5,381 | 248 | |
* | Limbach Holdings Inc. | 5,334 | 243 |
* | Forrester Research Inc. | 8,441 | 226 |
* | Tutor Perini Corp. | 24,689 | 225 |
* | BrightView Holdings Inc. | 25,317 | 213 |
*,1 | Atmus Filtration Technologies Inc. | 8,593 | 202 |
* | Advantage Solutions Inc. | 53,753 | 195 |
* | Moneylion Inc. | 3,090 | 194 |
Park-Ohio Holdings Corp. | 7,053 | 190 | |
* | Paymentus Holdings Inc. Class A | 10,632 | 190 |
* | Radiant Logistics Inc. | 28,389 | 189 |
* | Target Hospitality Corp. | 19,278 | 188 |
* | Willdan Group Inc. | 8,638 | 186 |
* | Concrete Pumping Holdings Inc. | 22,106 | 181 |
Shares | Market Value• ($000) | ||
* | L B Foster Co. Class A | 7,870 | 173 |
* | Iteris Inc. | 33,154 | 172 |
* | Graham Corp. | 9,026 | 171 |
* | Ranpak Holdings Corp. | 28,481 | 166 |
* | SoundThinking Inc. | 6,306 | 161 |
* | Atlanticus Holdings Corp. | 4,164 | 161 |
* | Rekor Systems Inc. | 47,989 | 160 |
* | Performant Financial Corp. | 51,043 | 160 |
* | Gencor Industries Inc. | 9,715 | 157 |
Overseas Shipholding Group Inc. Class A | 29,425 | 155 | |
Twin Disc Inc. | 9,394 | 152 | |
* | Microvast Holdings Inc. | 108,265 | 152 |
Park Aerospace Corp. | 10,255 | 151 | |
* | Blade Air Mobility Inc. | 41,940 | 148 |
* | Commercial Vehicle Group Inc. | 21,010 | 147 |
* | TaskUS Inc. Class A | 11,061 | 145 |
Information Services Group Inc. | 30,277 | 143 | |
* | Quad/Graphics Inc. | 26,173 | 142 |
* | Acacia Research Corp. | 35,109 | 138 |
* | Orion Group Holdings Inc. | 27,064 | 134 |
Universal Logistics Holdings Inc. | 4,679 | 131 | |
* | Luna Innovations Inc. | 19,734 | 131 |
* | CS Disco Inc. | 16,686 | 127 |
Kronos Worldwide Inc. | 12,662 | 126 | |
*,1 | Desktop Metal Inc. Class A | 167,096 | 125 |
* | Mistras Group Inc. | 15,007 | 110 |
Hurco Cos. Inc. | 5,040 | 109 | |
* | Manitex International Inc. | 12,275 | 107 |
Karat Packaging Inc. | 4,292 | 107 | |
* | Smith-Midland Corp. | 2,675 | 106 |
* | Core Molding Technologies Inc. | 5,479 | 102 |
ARC Document Solutions Inc. | 30,422 | 100 | |
* | Paysign Inc. | 34,843 | 98 |
* | Willis Lease Finance Corp. | 1,962 | 96 |
* | BlackSky Technology Inc. | 67,765 | 95 |
* | DLH Holdings Corp. | 5,768 | 91 |
* | DHI Group Inc. | 34,401 | 89 |
*,1 | Eos Energy Enterprises Inc. | 81,245 | 89 |
EVI Industries Inc. | 3,692 | 88 | |
* | TuSimple Holdings Inc. Class A | 100,233 | 88 |
* | Mayville Engineering Co. Inc. | 5,637 | 81 |
BGSF Inc. | 8,582 | 81 | |
*,1 | Wrap Technologies Inc. | 24,753 | 77 |
Hirequest Inc. | 4,907 | 75 | |
* | Byrna Technologies Inc. | 11,420 | 73 |
* | Spire Global Inc. | 9,335 | 73 |
Shares | Market Value• ($000) | ||
* | PAM Transportation Services Inc. | 3,326 | 69 |
* | Hyliion Holdings Corp. | 84,365 | 69 |
* | Amprius Technologies Inc. | 13,135 | 69 |
* | CPI Card Group Inc. | 3,492 | 67 |
*,2 | Tingo Group Inc. | 94,891 | 65 |
* | Alpha Pro Tech Ltd. | 12,073 | 64 |
* | Terran Orbital Corp. | 56,410 | 64 |
Frequency Electronics Inc. | 5,508 | 60 | |
* | Danimer Scientific Inc. | 58,942 | 60 |
* | Markforged Holding Corp. | 71,461 | 59 |
* | Hireright Holdings Corp. | 4,092 | 55 |
* | 374Water Inc. | 36,898 | 52 |
* | Babcock & Wilcox Enterprises Inc. | 34,947 | 51 |
* | RCM Technologies Inc. | 1,578 | 46 |
* | Hyzon Motors Inc. | 51,124 | 46 |
* | FreightCar America Inc. | 16,584 | 45 |
* | Hudson Global Inc. | 2,857 | 44 |
* | SKYX Platforms Corp. | 27,010 | 43 |
* | StarTek Inc. | 8,991 | 40 |
* | Velo3D Inc. | 94,353 | 38 |
*,1 | Workhorse Group Inc. | 100,038 | 36 |
* | Skillsoft Corp. | 2,042 | 36 |
* | Redwire Corp. | 11,752 | 33 |
* | LightPath Technologies Inc. Class A | 25,635 | 32 |
* | Innovative Solutions & Support Inc. | 3,690 | 31 |
* | INNOVATE Corp. | 25,298 | 31 |
* | Usio Inc. | 16,474 | 28 |
* | RF Industries Ltd. | 8,155 | 25 |
* | BM Technologies Inc. | 12,201 | 25 |
* | ClearSign Technologies Corp. | 20,576 | 23 |
* | Izea Worldwide Inc. | 10,892 | 22 |
* | Hydrofarm Holdings Group Inc. | 23,262 | 21 |
* | VirTra Inc. | 1,985 | 19 |
* | Orion Energy Systems Inc. | 20,324 | 18 |
* | Mega Matrix Corp. | 12,430 | 18 |
* | Astra Space Inc. | 4,371 | 10 |
*,1 | Xos Inc. | 1,024 | 8 |
* | Sarcos Technology & Robotics Corp. | 8,758 | 6 |
* | AEye Inc. | 2,128 | 5 |
* | AgEagle Aerial Systems Inc. | 23,558 | 2 |
4,075,292 | |||
Other (0.0%)3 | |||
*,2 | Lubys Inc. | 14,037 | 11 |
*,2 | Omthera Pharmaceuticals Inc. CVR | 31,662 | 8 |
*,2 | Strongbridge Biopharm CVR | 45,385 | 8 |
*,2 | Alexza Pharmaceuticals Inc. CVR | 80,591 | 3 |
Shares | Market Value• ($000) | ||
*,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 | SRAX Inc. | 7,380 | — |
*,1,2 | Gemini Therapeutics Inc. CVR | 33,435 | — |
*,1,2 | Next Bridge Hydrocarbons Inc. | 49,663 | — |
*,2 | Sesen Bio Inc. CVR | 143,290 | — |
*,2 | Magenta Therapeutics Inc. CVR | 33,990 | — |
*,2 | Neoleukin Therapeutics Inc. | 4,286 | — |
37 | |||
Real Estate (3.0%) | |||
Prologis Inc. | 619,947 | 82,639 | |
American Tower Corp. | 312,780 | 67,523 | |
Equinix Inc. | 62,908 | 50,665 | |
Welltower Inc. | 372,792 | 33,615 | |
Crown Castle Inc. | 290,406 | 33,452 | |
Public Storage | 106,159 | 32,378 | |
Simon Property Group Inc. | 207,426 | 29,587 | |
Realty Income Corp. | 484,493 | 27,820 | |
Digital Realty Trust Inc. | 202,782 | 27,290 | |
* | CoStar Group Inc. | 273,758 | 23,924 |
Extra Space Storage Inc. | 141,763 | 22,729 | |
VICI Properties Inc. | 695,167 | 22,162 | |
SBA Communications Corp. | 72,502 | 18,393 | |
* | CBRE Group Inc. Class A | 195,066 | 18,159 |
AvalonBay Communities Inc. | 94,531 | 17,698 | |
Weyerhaeuser Co. | 487,043 | 16,934 | |
Alexandria Real Estate Equities Inc. | 116,802 | 14,807 | |
Equity Residential | 241,482 | 14,769 | |
Invitation Homes Inc. | 407,688 | 13,906 | |
Iron Mountain Inc. | 195,659 | 13,692 | |
Ventas Inc. | 269,962 | 13,455 | |
Sun Communities Inc. | 84,022 | 11,230 | |
Essex Property Trust Inc. | 42,975 | 10,655 | |
Mid-America Apartment Communities Inc. | 77,995 | 10,487 | |
WP Carey Inc. | 146,074 | 9,467 | |
Host Hotels & Resorts Inc. | 473,054 | 9,210 | |
Kimco Realty Corp. | 413,841 | 8,819 | |
UDR Inc. | 220,831 | 8,456 |
Shares | Market Value• ($000) | ||
Gaming and Leisure Properties Inc. | 169,820 | 8,381 | |
Regency Centers Corp. | 122,594 | 8,214 | |
Equity LifeStyle Properties Inc. | 112,790 | 7,956 | |
Rexford Industrial Realty Inc. | 136,669 | 7,667 | |
American Homes 4 Rent Class A | 204,886 | 7,368 | |
Healthpeak Properties Inc. | 367,373 | 7,274 | |
Camden Property Trust | 71,689 | 7,118 | |
CubeSmart | 149,332 | 6,922 | |
Boston Properties Inc. | 94,523 | 6,633 | |
Lamar Advertising Co. Class A | 58,693 | 6,238 | |
* | Jones Lang LaSalle Inc. | 31,496 | 5,949 |
Americold Realty Trust Inc. | 190,693 | 5,772 | |
* | Zillow Group Inc. Class C | 98,248 | 5,685 |
EastGroup Properties Inc. | 30,662 | 5,628 | |
Federal Realty Investment Trust | 54,321 | 5,598 | |
NNN REIT Inc. | 122,596 | 5,284 | |
Omega Healthcare Investors Inc. | 162,397 | 4,979 | |
STAG Industrial Inc. | 121,746 | 4,780 | |
First Industrial Realty Trust Inc. | 88,673 | 4,670 | |
Brixmor Property Group Inc. | 198,669 | 4,623 | |
Healthcare Realty Trust Inc. | 253,147 | 4,362 | |
Agree Realty Corp. | 67,061 | 4,221 | |
Spirit Realty Capital Inc. | 94,539 | 4,130 | |
Ryman Hospitality Properties Inc. | 37,086 | 4,082 | |
Terreno Realty Corp. | 56,845 | 3,562 | |
Apartment Income REIT Corp. | 100,214 | 3,480 | |
Kite Realty Group Trust | 149,837 | 3,425 | |
Rayonier Inc. | 99,680 | 3,330 | |
Vornado Realty Trust | 116,352 | 3,287 | |
Kilroy Realty Corp. | 78,565 | 3,130 | |
Phillips Edison & Co. Inc. | 78,936 | 2,880 | |
Essential Properties Realty Trust Inc. | 104,679 | 2,676 | |
PotlatchDeltic Corp. | 53,841 | 2,644 | |
Cousins Properties Inc. | 102,836 | 2,504 | |
Independence Realty Trust Inc. | 163,294 | 2,498 | |
EPR Properties | 50,349 | 2,439 | |
Apple Hospitality REIT Inc. | 138,893 | 2,307 | |
Sabra Health Care REIT Inc. | 157,343 | 2,245 | |
Physicians Realty Trust | 167,247 | 2,226 | |
Macerich Co. | 143,276 | 2,211 |
Shares | Market Value• ($000) | ||
Hannon Armstrong Sustainable Infrastructure Capital Inc. | 75,885 | 2,093 | |
National Storage Affiliates Trust | 50,206 | 2,082 | |
Broadstone Net Lease Inc. | 119,526 | 2,058 | |
Park Hotels & Resorts Inc. | 131,786 | 2,016 | |
DigitalBridge Group Inc. | 112,925 | 1,981 | |
COPT Defense Properties | 76,474 | 1,960 | |
Medical Properties Trust Inc. | 398,046 | 1,954 | |
SL Green Realty Corp. | 43,267 | 1,954 | |
LXP Industrial Trust | 194,551 | 1,930 | |
Innovative Industrial Properties Inc. | 18,774 | 1,893 | |
Tanger Inc. | 66,603 | 1,846 | |
* | Zillow Group Inc. Class A | 32,520 | 1,845 |
* | Opendoor Technologies Inc. | 409,310 | 1,834 |
CareTrust REIT Inc. | 78,890 | 1,766 | |
SITE Centers Corp. | 127,987 | 1,744 | |
* | Howard Hughes Holdings Inc. | 20,200 | 1,728 |
Highwoods Properties Inc. | 73,466 | 1,687 | |
Global Net Lease Inc. | 159,918 | 1,591 | |
St. Joe Co. | 26,305 | 1,583 | |
Four Corners Property Trust Inc. | 62,016 | 1,569 | |
National Health Investors Inc. | 27,764 | 1,551 | |
Douglas Emmett Inc. | 105,159 | 1,525 | |
Urban Edge Properties | 76,642 | 1,403 | |
Sunstone Hotel Investors Inc. | 128,603 | 1,380 | |
Outfront Media Inc. | 98,791 | 1,379 | |
DiamondRock Hospitality Co. | 139,017 | 1,305 | |
Pebblebrook Hotel Trust | 79,516 | 1,271 | |
* | Cushman & Wakefield plc | 117,681 | 1,271 |
Equity Commonwealth | 65,679 | 1,261 | |
Retail Opportunity Investments Corp. | 85,116 | 1,194 | |
RLJ Lodging Trust | 99,768 | 1,169 | |
JBG SMITH Properties | 68,646 | 1,168 | |
Acadia Realty Trust | 66,640 | 1,132 | |
InvenTrust Properties Corp. | 42,190 | 1,069 | |
Service Properties Trust | 115,936 | 990 | |
Xenia Hotels & Resorts Inc. | 70,247 | 957 | |
Newmark Group Inc. Class A | 86,020 | 943 | |
Getty Realty Corp. | 31,219 | 912 | |
LTC Properties Inc. | 28,025 | 900 |
Shares | Market Value• ($000) | ||
Alexander & Baldwin Inc. | 47,282 | 899 | |
Uniti Group Inc. | 154,821 | 895 | |
Kennedy-Wilson Holdings Inc. | 71,937 | 891 | |
Veris Residential Inc. | 55,856 | 879 | |
Empire State Realty Trust Inc. Class A | 90,486 | 877 | |
Hudson Pacific Properties Inc. | 93,473 | 870 | |
* | Compass Inc. Class A | 227,161 | 854 |
Elme Communities | 57,599 | 841 | |
RPT Realty | 64,843 | 832 | |
1 | eXp World Holdings Inc. | 53,058 | 823 |
Easterly Government Properties Inc. | 60,381 | 812 | |
Safehold Inc. | 34,689 | 812 | |
* | Redfin Corp. | 78,499 | 810 |
* | GEO Group Inc. | 74,543 | 807 |
NETSTREIT Corp. | 43,117 | 770 | |
Plymouth Industrial REIT Inc. | 30,148 | 726 | |
* | Apartment Investment and Management Co. Class A | 86,567 | 678 |
UMH Properties Inc. | 42,695 | 654 | |
Paramount Group Inc. | 126,393 | 653 | |
Piedmont Office Realty Trust Inc. Class A | 91,593 | 651 | |
Marcus & Millichap Inc. | 14,631 | 639 | |
Centerspace | 10,639 | 619 | |
American Assets Trust Inc. | 26,765 | 602 | |
Brandywine Realty Trust | 108,457 | 586 | |
* | Anywhere Real Estate Inc. | 66,892 | 542 |
Armada Hoffler Properties Inc. | 42,862 | 530 | |
NexPoint Residential Trust Inc. | 14,507 | 499 | |
Diversified Healthcare Trust | 130,647 | 489 | |
Community Healthcare Trust Inc. | 18,288 | 487 | |
Global Medical REIT Inc. | 42,151 | 468 | |
Peakstone Realty Trust REIT | 23,506 | 468 | |
Summit Hotel Properties Inc. | 68,662 | 461 | |
Ares Commercial Real Estate Corp. | 39,478 | 409 | |
Universal Health Realty Income Trust | 9,360 | 405 | |
Farmland Partners Inc. | 32,368 | 404 | |
Whitestone REIT | 32,634 | 401 | |
CBL & Associates Properties Inc. | 15,300 | 374 | |
Gladstone Land Corp. | 24,952 | 361 | |
* | Forestar Group Inc. | 10,867 | 359 |
Chatham Lodging Trust | 33,089 | 355 | |
Saul Centers Inc. | 8,496 | 334 |
Shares | Market Value• ($000) | ||
Gladstone Commercial Corp. | 24,306 | 322 | |
RMR Group Inc. Class A | 10,594 | 299 | |
Alexander's Inc. | 1,287 | 275 | |
* | Tejon Ranch Co. | 15,750 | 271 |
Office Properties Income Trust | 30,586 | 224 | |
* | Seritage Growth Properties Class A | 23,441 | 219 |
* | FRP Holdings Inc. | 3,443 | 216 |
Orion Office REIT Inc. | 37,533 | 215 | |
Industrial Logistics Properties Trust | 43,462 | 204 | |
CTO Realty Growth Inc. | 11,379 | 197 | |
One Liberty Properties Inc. | 8,824 | 193 | |
Bridge Investment Group Holdings Inc. Class A | 18,625 | 182 | |
Postal Realty Trust Inc. Class A | 12,021 | 175 | |
NET Lease Office Properties | 9,435 | 174 | |
Franklin Street Properties Corp. | 62,401 | 160 | |
* | Stratus Properties Inc. | 5,338 | 154 |
BRT Apartments Corp. | 7,749 | 144 | |
Douglas Elliman Inc. | 45,623 | 135 | |
City Office REIT Inc. | 21,923 | 134 | |
* | Maui Land & Pineapple Co. Inc. | 7,827 | 124 |
* | Star Holdings | 8,255 | 124 |
Braemar Hotels & Resorts Inc. | 44,461 | 111 | |
Alpine Income Property Trust Inc. | 6,005 | 102 | |
* | Offerpad Solutions Inc. | 9,843 | 101 |
RE/MAX Holdings Inc. Class A | 6,897 | 92 | |
Modiv Industrial Inc. | 6,088 | 91 | |
Clipper Realty Inc. | 14,188 | 77 | |
Creative Media & Community Trust Corp. | 13,505 | 50 | |
Global Self Storage Inc. | 8,627 | 40 | |
* | Ashford Hospitality Trust Inc. | 20,163 | 39 |
Bluerock Homes Trust Inc. | 2,283 | 32 | |
* | Sotherly Hotels Inc. | 18,957 | 28 |
* | Rafael Holdings Inc. Class B | 13,424 | 25 |
* | Altisource Portfolio Solutions SA | 7,037 | 25 |
* | Fathom Holdings Inc. | 5,453 | 20 |
942,993 | |||
Technology (30.9%) | |||
Apple Inc. | 9,903,578 | 1,906,736 | |
Microsoft Corp. | 4,981,589 | 1,873,277 | |
NVIDIA Corp. | 1,572,797 | 778,881 | |
* | Alphabet Inc. Class A | 3,969,223 | 554,461 |
Shares | Market Value• ($000) | ||
* | Meta Platforms Inc. Class A | 1,487,782 | 526,615 |
* | Alphabet Inc. Class C | 3,259,593 | 459,374 |
Broadcom Inc. | 297,440 | 332,017 | |
* | Adobe Inc. | 305,147 | 182,051 |
* | Salesforce Inc. | 619,414 | 162,993 |
* | Advanced Micro Devices Inc. | 1,082,947 | 159,637 |
Intel Corp. | 2,826,333 | 142,023 | |
Oracle Corp. | 1,101,551 | 116,137 | |
Intuit Inc. | 178,386 | 111,497 | |
QUALCOMM Inc. | 746,137 | 107,914 | |
Texas Instruments Inc. | 608,573 | 103,737 | |
International Business Machines Corp. | 611,474 | 100,007 | |
* | ServiceNow Inc. | 137,339 | 97,029 |
Applied Materials Inc. | 560,753 | 90,881 | |
Lam Research Corp. | 88,372 | 69,218 | |
Analog Devices Inc. | 332,839 | 66,089 | |
Micron Technology Inc. | 736,256 | 62,832 | |
* | Palo Alto Networks Inc. | 211,389 | 62,334 |
KLA Corp. | 91,166 | 52,995 | |
* | Synopsys Inc. | 101,907 | 52,473 |
* | Cadence Design Systems Inc. | 182,094 | 49,597 |
Amphenol Corp. Class A | 401,083 | 39,759 | |
* | Snowflake Inc. Class A | 199,198 | 39,640 |
Roper Technologies Inc. | 71,467 | 38,962 | |
* | Crowdstrike Holdings Inc. Class A | 151,585 | 38,703 |
* | Workday Inc. Class A | 138,888 | 38,341 |
* | Autodesk Inc. | 143,397 | 34,914 |
Marvell Technology Inc. | 578,872 | 34,912 | |
Microchip Technology Inc. | 363,282 | 32,761 | |
TE Connectivity Ltd. | 207,644 | 29,174 | |
* | Fortinet Inc. | 437,505 | 25,607 |
Cognizant Technology Solutions Corp. Class A | 335,601 | 25,348 | |
* | Atlassian Corp. Ltd. Class A | 104,024 | 24,743 |
* | ON Semiconductor Corp. | 288,892 | 24,131 |
* | Palantir Technologies Inc. Class A | 1,318,101 | 22,632 |
* | Gartner Inc. | 49,601 | 22,376 |
* | Datadog Inc. Class A | 182,384 | 22,138 |
* | ANSYS Inc. | 57,957 | 21,031 |
* | DoorDash Inc. Class A | 211,461 | 20,911 |
CDW Corp. | 89,828 | 20,420 | |
Monolithic Power Systems Inc. | 30,564 | 19,279 | |
* | HubSpot Inc. | 32,072 | 18,619 |
* | MongoDB Inc. | 45,456 | 18,585 |
HP Inc. | 593,371 | 17,855 | |
* | Splunk Inc. | 113,052 | 17,223 |
* | Cloudflare Inc. Class A | 188,721 | 15,713 |
Corning Inc. | 513,376 | 15,632 | |
Hewlett Packard Enterprise Co. | 859,917 | 14,601 |
Shares | Market Value• ($000) | ||
* | Pinterest Inc. Class A | 393,834 | 14,588 |
* | PTC Inc. | 75,842 | 13,269 |
* | Zscaler Inc. | 59,305 | 13,140 |
Dell Technologies Inc. Class C | 170,330 | 13,030 | |
NetApp Inc. | 138,837 | 12,240 | |
Skyworks Solutions Inc. | 107,571 | 12,093 | |
Entegris Inc. | 100,636 | 12,058 | |
* | VeriSign Inc. | 57,916 | 11,928 |
* | Snap Inc. Class A | 700,877 | 11,866 |
* | Akamai Technologies Inc. | 100,222 | 11,861 |
* | Tyler Technologies Inc. | 28,149 | 11,770 |
* | EPAM Systems Inc. | 38,776 | 11,530 |
Seagate Technology Holdings plc | 133,513 | 11,398 | |
* | Western Digital Corp. | 216,907 | 11,359 |
* | Zoom Video Communications Inc. Class A | 155,557 | 11,186 |
Teradyne Inc. | 102,963 | 11,174 | |
Vertiv Holdings Co. Class A | 231,436 | 11,116 | |
Jabil Inc. | 81,650 | 10,402 | |
* | GoDaddy Inc. Class A | 94,191 | 9,999 |
Leidos Holdings Inc. | 92,076 | 9,966 | |
* | Dynatrace Inc. | 177,024 | 9,681 |
* | Okta Inc. | 105,343 | 9,537 |
* | Super Micro Computer Inc. | 31,675 | 9,004 |
* | Manhattan Associates Inc. | 41,257 | 8,883 |
* | Twilio Inc. Class A | 115,866 | 8,791 |
SS&C Technologies Holdings Inc. | 140,890 | 8,610 | |
Gen Digital Inc. (XNGS) | 365,421 | 8,339 | |
* | DocuSign Inc. | 136,249 | 8,100 |
Bentley Systems Inc. Class B | 152,913 | 7,979 | |
* | Nutanix Inc. Class A | 160,435 | 7,651 |
* | Qorvo Inc. | 65,426 | 7,368 |
* | Unity Software Inc. | 178,938 | 7,317 |
Paycom Software Inc. | 34,785 | 7,191 | |
* | F5 Inc. | 39,916 | 7,144 |
* | Pure Storage Inc. Class A | 199,472 | 7,113 |
* | Ceridian HCM Holding Inc. | 99,842 | 6,701 |
* | Match Group Inc. | 182,824 | 6,673 |
* | Lattice Semiconductor Corp. | 92,380 | 6,373 |
* | UiPath Inc. Class A | 244,001 | 6,061 |
* | Guidewire Software Inc. | 55,078 | 6,006 |
* | Elastic NV | 52,734 | 5,943 |
Universal Display Corp. | 30,139 | 5,764 | |
* | Onto Innovation Inc. | 33,159 | 5,070 |
* | Toast Inc. Class A | 272,530 | 4,976 |
KBR Inc. | 89,420 | 4,955 | |
* | Rambus Inc. | 72,387 | 4,940 |
* | Dropbox Inc. Class A | 167,076 | 4,925 |
Shares | Market Value• ($000) | ||
* | CACI International Inc. Class A | 15,103 | 4,891 |
* | SPS Commerce Inc. | 24,696 | 4,787 |
* | Fabrinet | 24,290 | 4,623 |
* | Qualys Inc. | 23,186 | 4,551 |
* | MicroStrategy Inc. Class A | 7,155 | 4,519 |
Science Applications International Corp. | 35,834 | 4,455 | |
* | Coherent Corp. | 102,253 | 4,451 |
* | Arrow Electronics Inc. | 36,179 | 4,423 |
* | ZoomInfo Technologies Inc. | 237,941 | 4,400 |
* | Procore Technologies Inc. | 62,906 | 4,354 |
* | SentinelOne Inc. Class A | 155,078 | 4,255 |
* | Aspen Technology Inc. | 19,305 | 4,250 |
* | AppLovin Corp. Class A | 106,550 | 4,246 |
* | Smartsheet Inc. Class A | 85,525 | 4,090 |
* | Novanta Inc. | 23,647 | 3,982 |
* | Gitlab Inc. Class A | 63,040 | 3,969 |
* | Insight Enterprises Inc. | 21,936 | 3,887 |
* | Five9 Inc. | 48,618 | 3,826 |
Concentrix Corp. | 38,299 | 3,761 | |
TD SYNNEX Corp. | 34,085 | 3,668 | |
* | Wolfspeed Inc. | 82,769 | 3,601 |
* | Tenable Holdings Inc. | 77,458 | 3,568 |
Dolby Laboratories Inc. Class A | 39,738 | 3,425 | |
* | Samsara Inc. Class A | 102,461 | 3,420 |
* | DoubleVerify Holdings Inc. | 91,362 | 3,360 |
* | MACOM Technology Solutions Holdings Inc. | 35,550 | 3,304 |
* | Workiva Inc. | 32,311 | 3,281 |
* | Kyndryl Holdings Inc. | 156,132 | 3,244 |
Power Integrations Inc. | 38,571 | 3,167 | |
* | Varonis Systems Inc. | 69,949 | 3,167 |
* | Blackbaud Inc. | 36,097 | 3,130 |
* | Altair Engineering Inc. Class A | 36,685 | 3,087 |
Avnet Inc. | 60,950 | 3,072 | |
* | Freshworks Inc. Class A | 130,082 | 3,056 |
* | Cirrus Logic Inc. | 35,856 | 2,983 |
* | DXC Technology Co. | 130,353 | 2,981 |
* | Synaptics Inc. | 25,821 | 2,946 |
* | Confluent Inc. Class A | 125,814 | 2,944 |
* | Teradata Corp. | 66,357 | 2,887 |
* | Axcelis Technologies Inc. | 22,103 | 2,867 |
* | Silicon Laboratories Inc. | 21,564 | 2,852 |
Amkor Technology Inc. | 82,980 | 2,761 | |
Advanced Energy Industries Inc. | 24,750 | 2,696 | |
* | IAC Inc. | 47,755 | 2,501 |
* | Box Inc. Class A | 91,385 | 2,340 |
* | Blackline Inc. | 37,322 | 2,330 |
* | Diodes Inc. | 28,652 | 2,307 |
* | CommVault Systems Inc. | 28,624 | 2,286 |
Shares | Market Value• ($000) | ||
* | Rapid7 Inc. | 39,327 | 2,246 |
* | Appfolio Inc. Class A | 12,834 | 2,223 |
* | FormFactor Inc. | 51,949 | 2,167 |
Dun & Bradstreet Holdings Inc. | 184,883 | 2,163 | |
* | IPG Photonics Corp. | 19,471 | 2,113 |
* | Alarm.com Holdings Inc. | 31,916 | 2,062 |
* | Yelp Inc. | 42,954 | 2,033 |
* | Ziff Davis Inc. | 29,718 | 1,997 |
* | Plexus Corp. | 18,256 | 1,974 |
Vishay Intertechnology Inc. | 81,773 | 1,960 | |
*,1 | C3.ai Inc. Class A | 68,034 | 1,953 |
* | CCC Intelligent Solutions Holdings Inc. | 171,184 | 1,950 |
* | Alteryx Inc. Class A | 41,206 | 1,943 |
* | Sprout Social Inc. Class A | 31,551 | 1,939 |
* | Braze Inc. Class A | 36,250 | 1,926 |
* | JFrog Ltd. | 53,330 | 1,846 |
* | Sanmina Corp. | 35,694 | 1,834 |
* | RingCentral Inc. Class A | 53,197 | 1,806 |
* | Parsons Corp. | 28,251 | 1,772 |
* | Envestnet Inc. | 33,884 | 1,678 |
* | Credo Technology Group Holding Ltd. | 85,457 | 1,664 |
* | Rogers Corp. | 12,594 | 1,663 |
* | Q2 Holdings Inc. | 37,927 | 1,646 |
* | LiveRamp Holdings Inc. | 42,777 | 1,620 |
* | HashiCorp Inc. Class A | 66,738 | 1,578 |
Progress Software Corp. | 28,503 | 1,548 | |
* | Ambarella Inc. | 24,447 | 1,498 |
* | Perficient Inc. | 22,648 | 1,491 |
* | nCino Inc. | 44,236 | 1,488 |
* | NCR Voyix Corp. | 86,484 | 1,462 |
* | Fastly Inc. Class A | 81,569 | 1,452 |
* | Schrodinger Inc. | 40,485 | 1,449 |
* | Cargurus Inc. | 59,533 | 1,438 |
* | Sitime Corp. | 11,537 | 1,408 |
* | ePlus Inc. | 17,460 | 1,394 |
* | Allegro MicroSystems Inc. | 45,943 | 1,391 |
*,1 | IonQ Inc. | 109,083 | 1,352 |
Pegasystems Inc. | 27,210 | 1,330 | |
* | DigitalOcean Holdings Inc. | 35,322 | 1,296 |
Xerox Holdings Corp. | 70,641 | 1,295 | |
* | PagerDuty Inc. | 55,199 | 1,278 |
* | Impinj Inc. | 14,101 | 1,270 |
* | Squarespace Inc. Class A | 38,370 | 1,267 |
* | Upwork Inc. | 84,120 | 1,251 |
Clear Secure Inc. Class A | 59,318 | 1,225 | |
* | Photronics Inc. | 38,305 | 1,202 |
* | MaxLinear Inc. | 48,538 | 1,154 |
* | PROS Holdings Inc. | 29,631 | 1,149 |
* | Agilysys Inc. | 13,340 | 1,132 |
* | Verint Systems Inc. | 41,439 | 1,120 |
Shares | Market Value• ($000) | ||
* | Cohu Inc. | 30,757 | 1,089 |
* | Veeco Instruments Inc. | 34,501 | 1,071 |
* | Cleanspark Inc. | 96,563 | 1,065 |
* | Appian Corp. Class A | 27,677 | 1,042 |
* | TTM Technologies Inc. | 65,275 | 1,032 |
* | Paycor HCM Inc. | 47,544 | 1,027 |
* | Ultra Clean Holdings Inc. | 30,059 | 1,026 |
* | NetScout Systems Inc. | 45,742 | 1,004 |
*,1 | Xometry Inc. Class A | 27,157 | 975 |
* | Bumble Inc. Class A | 65,847 | 971 |
CSG Systems International Inc. | 18,202 | 969 | |
* | Informatica Inc. Class A | 33,659 | 956 |
* | Semtech Corp. | 43,375 | 950 |
* | Vertex Inc. Class A | 35,150 | 947 |
* | Asana Inc. Class A | 49,213 | 936 |
CTS Corp. | 21,171 | 926 | |
* | Jamf Holding Corp. | 49,062 | 886 |
* | Zuora Inc. Class A | 93,185 | 876 |
* | Magnite Inc. | 89,502 | 836 |
Adeia Inc. | 66,422 | 823 | |
* | AvePoint Inc. | 97,337 | 799 |
* | Intapp Inc. | 20,975 | 797 |
* | Sprinklr Inc. Class A | 66,058 | 795 |
* | Zeta Global Holdings Corp. Class A | 89,273 | 787 |
* | PDF Solutions Inc. | 24,445 | 786 |
* | indie Semiconductor Inc. Class A | 96,311 | 781 |
Shutterstock Inc. | 15,968 | 771 | |
* | PAR Technology Corp. | 17,488 | 761 |
* | ScanSource Inc. | 18,137 | 718 |
* | Everbridge Inc. | 29,490 | 717 |
* | Veradigm Inc. | 68,077 | 714 |
* | EngageSmart Inc. | 29,511 | 676 |
* | Ichor Holdings Ltd. | 19,830 | 667 |
Benchmark Electronics Inc. | 23,157 | 640 | |
* | E2open Parent Holdings Inc. | 145,740 | 640 |
* | ACM Research Inc. Class A | 32,247 | 630 |
* | Model N Inc. | 23,355 | 629 |
* | Navitas Semiconductor Corp. | 76,214 | 615 |
* | Amplitude Inc. Class A | 48,136 | 612 |
* | TechTarget Inc. | 17,409 | 607 |
A10 Networks Inc. | 45,556 | 600 | |
* | SMART Global Holdings Inc. | 30,423 | 576 |
* | N-Able Inc. | 42,736 | 566 |
* | Alkami Technology Inc. | 23,211 | 563 |
* | Grid Dynamics Holdings Inc. | 41,090 | 548 |
* | 3D Systems Corp. | 82,041 | 521 |
Methode Electronics Inc. | 22,898 | 520 | |
* | Matterport Inc. | 189,863 | 511 |
Simulations Plus Inc. | 11,396 | 510 | |
* | Cerence Inc. | 25,730 | 506 |
* | Couchbase Inc. | 22,102 | 498 |
Shares | Market Value• ($000) | ||
* | SolarWinds Corp. | 39,005 | 487 |
* | PubMatic Inc. Class A | 28,783 | 469 |
* | Kimball Electronics Inc. | 17,220 | 464 |
* | Aehr Test Systems | 17,471 | 464 |
* | Diebold Nixdorf Inc. | 16,000 | 463 |
PC Connection Inc. | 6,834 | 459 | |
* | Klaviyo Inc. Class A | 16,051 | 446 |
* | Digital Turbine Inc. | 63,745 | 437 |
* | Olo Inc. Class A | 75,881 | 434 |
* | Eventbrite Inc. Class A | 51,607 | 431 |
* | Yext Inc. | 69,021 | 407 |
* | Digimarc Corp. | 11,148 | 403 |
* | SmartRent Inc. | 122,927 | 392 |
* | BigCommerce Holdings Inc. Series 1 | 40,078 | 390 |
* | Blend Labs Inc. Class A | 152,098 | 388 |
* | nLight Inc. | 28,567 | 386 |
Hackett Group Inc. | 16,910 | 385 | |
* | Mitek Systems Inc. | 29,293 | 382 |
* | Alpha & Omega Semiconductor Ltd. | 14,574 | 380 |
* | SEMrush Holdings Inc. Class A | 27,777 | 379 |
* | NerdWallet Inc. Class A | 25,256 | 372 |
* | Vimeo Inc. | 90,615 | 355 |
* | Vivid Seats Inc. Class A | 55,299 | 350 |
*,1 | Getty Images Holdings Inc. | 66,161 | 347 |
* | Terawulf Inc. | 137,764 | 331 |
* | SoundHound AI Inc. Class A | 153,965 | 326 |
* | CEVA Inc. | 14,137 | 321 |
* | Definitive Healthcare Corp. | 32,037 | 318 |
* | Planet Labs PBC | 127,335 | 315 |
* | Thoughtworks Holding Inc. | 65,268 | 314 |
*,1 | MicroVision Inc. | 114,050 | 303 |
* | Consensus Cloud Solutions Inc. | 11,299 | 296 |
* | Applied Digital Corp. | 40,294 | 272 |
* | Weave Communications Inc. | 23,557 | 270 |
* | OneSpan Inc. | 24,049 | 258 |
NVE Corp. | 3,259 | 256 | |
* | Daktronics Inc. | 29,724 | 252 |
* | EverQuote Inc. Class A | 20,482 | 251 |
* | Unisys Corp. | 44,617 | 251 |
American Software Inc. Class A | 21,893 | 247 | |
* | MeridianLink Inc. | 9,936 | 246 |
* | TrueCar Inc. | 62,905 | 218 |
* | Bandwidth Inc. Class A | 14,853 | 215 |
*,1 | Rumble Inc. | 47,289 | 212 |
* | Domo Inc. Class B | 19,163 | 197 |
* | Enfusion Inc. Class A | 19,848 | 193 |
ON24 Inc. | 23,181 | 183 | |
* | Tucows Inc. Class A | 6,570 | 177 |
* | Porch Group Inc. | 55,645 | 171 |
* | LivePerson Inc. | 44,180 | 167 |
* | QuickLogic Corp. | 11,891 | 165 |
* | Red Violet Inc. | 8,230 | 164 |
Shares | Market Value• ($000) | ||
* | SkyWater Technology Inc. | 16,892 | 163 |
* | Ouster Inc. | 20,981 | 161 |
* | Mediaalpha Inc. Class A | 13,989 | 156 |
* | Nextdoor Holdings Inc. | 75,268 | 142 |
* | Groupon Inc. | 10,751 | 138 |
* | Innodata Inc. | 16,482 | 134 |
Immersion Corp. | 18,110 | 128 | |
* | BigBear.ai Holdings Inc. | 57,803 | 124 |
* | 1stdibs.com Inc. | 26,304 | 123 |
* | Backblaze Inc. Class A | 16,181 | 123 |
* | Asure Software Inc. | 12,707 | 121 |
1 | ReposiTrak Inc. | 12,115 | 121 |
* | Telos Corp. | 33,040 | 121 |
* | NextNav Inc. | 27,071 | 120 |
* | EverCommerce Inc. | 10,789 | 119 |
* | Cipher Mining Inc. | 28,357 | 117 |
* | Rimini Street Inc. | 35,452 | 116 |
* | Identiv Inc. | 13,996 | 115 |
* | Kopin Corp. | 54,575 | 111 |
* | Astronova Inc. | 6,757 | 110 |
* | eGain Corp. | 12,737 | 106 |
* | Arteris Inc. | 17,864 | 105 |
* | Atomera Inc. | 14,264 | 100 |
* | Rackspace Technology Inc. | 48,958 | 98 |
* | Transphorm Inc. | 24,701 | 90 |
* | Innovid Corp. | 58,925 | 88 |
* | inTEST Corp. | 6,184 | 84 |
Richardson Electronics Ltd. | 6,173 | 82 | |
* | Intevac Inc. | 18,754 | 81 |
* | Upland Software Inc. | 19,213 | 81 |
* | FiscalNote Holdings Inc. | 70,169 | 80 |
* | Everspin Technologies Inc. | 8,435 | 76 |
* | ZeroFox Holdings Inc. | 84,034 | 73 |
* | Expensify Inc. Class A | 28,100 | 69 |
* | AXT Inc. | 28,066 | 67 |
* | Brightcove Inc. | 25,456 | 66 |
* | Viant Technology Inc. Class A | 8,483 | 58 |
* | Aeva Technologies Inc. | 76,978 | 58 |
* | SecureWorks Corp. Class A | 7,362 | 54 |
* | Issuer Direct Corp. | 2,964 | 54 |
* | CoreCard Corp. | 3,812 | 53 |
* | TransAct Technologies Inc. | 7,051 | 49 |
* | Vroom Inc. | 74,354 | 45 |
* | Pixelworks Inc. | 32,680 | 43 |
* | GSI Technology Inc. | 15,882 | 42 |
* | Key Tronic Corp. | 8,842 | �� 38 |
* | Rigetti Computing Inc. | 38,252 | 38 |
* | System1 Inc. | 16,725 | 37 |
* | Nutex Health Inc. | 203,511 | 37 |
* | Inuvo Inc. | 84,564 | 36 |
* | comScore Inc. | 2,097 | 35 |
* | Quantum Corp. | 98,136 | 34 |
*,1 | Veritone Inc. | 18,337 | 33 |
* | CVD Equipment Corp. | 7,295 | 32 |
Shares | Market Value• ($000) | ||
* | Mastech Digital Inc. | 3,641 | 31 |
* | Edgio Inc. | 88,134 | 30 |
* | WM Technology Inc. | 41,877 | 30 |
* | Synchronoss Technologies Inc. | 4,887 | 30 |
*,1 | Skillz Inc. | 4,688 | 29 |
* | AudioEye Inc. | 5,086 | 28 |
* | Intellicheck Inc. | 14,706 | 28 |
* | One Stop Systems Inc. | 11,905 | 25 |
* | Amtech Systems Inc. | 5,730 | 24 |
* | Data I/O Corp. | 8,084 | 24 |
* | Zedge Inc. Class B | 10,242 | 24 |
* | WidePoint Corp. | 10,057 | 23 |
* | NetSol Technologies Inc. | 9,164 | 20 |
* | Arena Group Holdings Inc. | 8,236 | 20 |
VirnetX Holding Corp. | 2,409 | 17 | |
* | KORE Group Holdings Inc. | 15,866 | 16 |
* | Presto Automation Inc. | 29,255 | 16 |
* | EMCORE Corp. | 30,051 | 15 |
* | BuzzFeed Inc. | 58,794 | 15 |
* | Glimpse Group Inc. | 11,947 | 14 |
* | KULR Technology Group Inc. | 52,190 | 10 |
* | Alpine 4 Holdings Inc. | 12,716 | 9 |
* | authID Inc. | 729 | 7 |
* | Smith Micro Software Inc. | 7,556 | 6 |
* | Boxlight Corp. Class A | 5,534 | 6 |
* | Maplebear Inc. | 195 | 5 |
* | Streamline Health Solutions Inc. | 7,248 | 3 |
9,653,347 | |||
Telecommunications (2.0%) | |||
Cisco Systems Inc. | 2,451,520 | 123,851 | |
Comcast Corp. Class A | 2,690,109 | 117,961 | |
Verizon Communications Inc. | 2,538,703 | 95,709 | |
AT&T Inc. | 4,787,759 | 80,339 | |
T-Mobile US Inc. | 348,852 | 55,931 | |
* | Arista Networks Inc. | 166,899 | 39,306 |
Motorola Solutions Inc. | 111,135 | 34,795 | |
* | Charter Communications Inc. Class A | 64,492 | 25,067 |
* | Roku Inc. | 83,986 | 7,698 |
* | Liberty Broadband Corp. Class C | 82,891 | 6,680 |
Juniper Networks Inc. | 213,569 | 6,296 | |
* | Ciena Corp. | 98,840 | 4,449 |
* | Frontier Communications Parent Inc. | 165,871 | 4,203 |
Iridium Communications Inc. | 74,747 | 3,077 | |
* | Lumentum Holdings Inc. | 45,648 | 2,393 |
Cogent Communications Holdings Inc. | 30,169 | 2,295 |
Shares | Market Value• ($000) | ||
* | ViaSat Inc. | 73,261 | 2,048 |
InterDigital Inc. | 17,023 | 1,848 | |
Cable One Inc. | 2,983 | 1,660 | |
* | Calix Inc. | 36,565 | 1,597 |
* | Viavi Solutions Inc. | 151,996 | 1,531 |
* | Extreme Networks Inc. | 82,080 | 1,448 |
Telephone and Data Systems Inc. | 68,967 | 1,265 | |
* | Lumen Technologies Inc. | 683,760 | 1,251 |
* | DISH Network Corp. Class A | 168,000 | 969 |
* | Harmonic Inc. | 73,856 | 963 |
* | Globalstar Inc. | 478,232 | 928 |
* | Liberty Broadband Corp. Class A | 8,405 | 678 |
Shenandoah Telecommunications Co. | 30,986 | 670 | |
* | fuboTV Inc. | 202,175 | 643 |
* | Digi International Inc. | 24,294 | 632 |
* | Infinera Corp. | 124,753 | 593 |
* | IDT Corp. Class B | 13,778 | 470 |
* | Altice USA Inc. Class A | 143,163 | 465 |
* | Gogo Inc. | 43,651 | 442 |
* | Applied Optoelectronics Inc. | 22,846 | 441 |
*,1 | Lightwave Logic Inc. | 81,349 | 405 |
* | EchoStar Corp. Class A | 24,087 | 399 |
Bel Fuse Inc. Class B | 5,951 | 397 | |
* | CommScope Holding Co. Inc. | 136,290 | 384 |
ATN International Inc. | 8,389 | 327 | |
Adtran Holdings Inc. | 44,499 | 327 | |
* | United States Cellular Corp. | 7,473 | 310 |
* | 8x8 Inc. | 78,246 | 296 |
* | Xperi Inc. | 26,568 | 293 |
*,1 | AST SpaceMobile Inc. | 47,259 | 285 |
* | NETGEAR Inc. | 18,985 | 277 |
* | Aviat Networks Inc. | 8,225 | 269 |
* | Anterix Inc. | 7,780 | 259 |
* | Clearfield Inc. | 8,514 | 248 |
* | Consolidated Communications Holdings Inc. | 55,540 | 242 |
Spok Holdings Inc. | 12,210 | 189 | |
Comtech Telecommunications Corp. | 19,010 | 160 | |
* | Ooma Inc. | 14,333 | 154 |
* | WideOpenWest Inc. | 37,199 | 151 |
* | Ribbon Communications Inc. | 46,419 | 135 |
* | Kaltura Inc. | 57,548 | 112 |
* | Lantronix Inc. | 18,653 | 109 |
Bel Fuse Inc. Class A | 1,376 | 88 | |
* | Powerfleet Inc. NJ | 23,451 | 80 |
* | KVH Industries Inc. | 13,892 | 73 |
* | Genasys Inc. | 27,518 | 56 |
* | Cambium Networks Corp. | 7,849 | 47 |
Shares | Market Value• ($000) | ||
* | Airgain Inc. | 10,184 | 36 |
Network-1 Technologies Inc. | 15,271 | 33 | |
* | Akoustis Technologies Inc. | 37,107 | 31 |
* | DZS Inc. | 12,668 | 25 |
* | Inseego Corp. | 62,650 | 14 |
* | Casa Systems Inc. | 21,249 | 11 |
* | Charge Enterprises Inc. | 66,536 | 8 |
* | CalAmp Corp. | 20,762 | 5 |
* | Franklin Wireless Corp. | 1,161 | 4 |
* | Vislink Technologies Inc. | 1,108 | 4 |
*,2 | GCI Liberty Inc. | 82,371 | — |
636,835 | |||
Utilities (2.6%) | |||
NextEra Energy Inc. | 1,357,448 | 82,451 | |
Southern Co. | 731,836 | 51,316 | |
Duke Energy Corp. | 516,889 | 50,159 | |
Waste Management Inc. | 270,095 | 48,374 | |
Sempra | 421,446 | 31,495 | |
PG&E Corp. | 1,705,316 | 30,747 | |
American Electric Power Co. Inc. | 345,301 | 28,045 | |
Dominion Energy Inc. | 561,793 | 26,404 | |
Waste Connections Inc. (XTSE) | 172,793 | 25,793 | |
Constellation Energy Corp. | 214,038 | 25,019 | |
Exelon Corp. | 665,326 | 23,885 | |
Xcel Energy Inc. | 370,441 | 22,934 | |
Republic Services Inc. | 137,312 | 22,644 | |
Consolidated Edison Inc. | 232,549 | 21,155 | |
Public Service Enterprise Group Inc. | 334,148 | 20,433 | |
Edison International | 256,233 | 18,318 | |
WEC Energy Group Inc. | 211,419 | 17,795 | |
American Water Works Co. Inc. | 130,751 | 17,258 | |
Eversource Energy | 235,566 | 14,539 | |
Entergy Corp. | 141,312 | 14,299 | |
FirstEnergy Corp. | 365,434 | 13,397 | |
PPL Corp. | 492,603 | 13,350 | |
DTE Energy Co. | 117,309 | 12,934 | |
Ameren Corp. | 176,535 | 12,771 | |
CenterPoint Energy Inc. | 419,199 | 11,976 | |
Atmos Energy Corp. | 99,227 | 11,500 | |
CMS Energy Corp. | 193,903 | 11,260 | |
Vistra Corp. | 239,182 | 9,213 | |
AES Corp. | 451,374 | 8,689 | |
Alliant Energy Corp. | 167,025 | 8,568 | |
Evergy Inc. | 155,405 | 8,112 | |
NiSource Inc. | 296,970 | 7,885 | |
NRG Energy Inc. | 149,127 | 7,710 | |
Essential Utilities Inc. | 165,592 | 6,185 | |
* | Clean Harbors Inc. | 32,519 | 5,675 |
Pinnacle West Capital Corp. | 76,481 | 5,494 | |
OGE Energy Corp. | 132,969 | 4,645 | |
UGI Corp. | 142,058 | 3,495 | |
IDACORP Inc. | 34,010 | 3,344 |
Shares | Market Value• ($000) | ||
* | Casella Waste Systems Inc. Class A | 38,741 | 3,311 |
* | Stericycle Inc. | 61,897 | 3,068 |
National Fuel Gas Co. | 61,023 | 3,062 | |
New Jersey Resources Corp. | 66,344 | 2,958 | |
Portland General Electric Co. | 65,808 | 2,852 | |
Southwest Gas Holdings Inc. | 44,681 | 2,831 | |
* | Sunrun Inc. | 143,120 | 2,809 |
Ormat Technologies Inc. (XNYS) | 34,277 | 2,598 | |
Black Hills Corp. | 45,071 | 2,432 | |
ALLETE Inc. | 39,496 | 2,416 | |
PNM Resources Inc. | 57,418 | 2,389 | |
ONE Gas Inc. | 37,233 | 2,372 | |
Spire Inc. | 33,936 | 2,116 | |
Northwestern Energy Group Inc. | 40,449 | 2,058 | |
American States Water Co. | 25,186 | 2,025 | |
California Water Service Group | 37,450 | 1,943 | |
Avista Corp. | 52,483 | 1,876 | |
MGE Energy Inc. | 25,249 | 1,826 | |
Avangrid Inc. | 52,523 | 1,702 | |
Chesapeake Utilities Corp. | 14,550 | 1,537 | |
SJW Group | 19,725 | 1,289 | |
Clearway Energy Inc. Class A | 42,776 | 1,094 | |
Clearway Energy Inc. Class C | 38,877 | 1,066 | |
* | Sunnova Energy International Inc. | 66,404 | 1,013 |
Hawaiian Electric Industries Inc. | 71,311 | 1,012 | |
Northwest Natural Holding Co. | 23,709 | 923 | |
Middlesex Water Co. | 12,265 | 805 | |
Unitil Corp. | 11,221 | 590 | |
* | Enviri Corp. | 56,173 | 506 |
Genie Energy Ltd. Class B | 14,713 | 414 | |
York Water Co. | 8,757 | 338 | |
* | Altus Power Inc. | 44,129 | 301 |
Excelerate Energy Inc. Class A | 14,432 | 223 | |
Artesian Resources Corp. Class A | 5,284 | 219 | |
* | Pure Cycle Corp. | 15,027 | 157 |
* | Vertex Energy Inc. | 46,411 | 157 |
Aris Water Solutions Inc. Class A | 15,958 | 134 | |
* | Quest Resource Holding Corp. | 15,848 | 116 |
RGC Resources Inc. | 5,695 | 116 | |
Global Water Resources Inc. | 8,514 | 111 | |
* | Cadiz Inc. | 37,685 | 106 |
*,1 | NuScale Power Corp. | 30,475 | 100 |
Shares | Market Value• ($000) | ||
* | Net Power Inc. | 8,917 | 90 |
* | Perma-Fix Environmental Services Inc. | 9,152 | 72 |
* | Aqua Metals Inc. | 93,458 | 71 |
* | Advanced Emissions Solutions Inc. | 16,504 | 49 |
Via Renewables Inc. | 1,933 | 18 | |
818,537 | |||
Total Common Stocks (Cost $11,269,323) | 31,077,649 | ||
Rights (0.0%) | |||
*,1 | Groupon Inc. Exp. 1/17/24 (Cost $—) | 10,751 | 4 |
Warrants (0.0%) | |||
* | Geron Corp. Exp. 12/31/25 | 73,748 | 30 |
*,2 | Cassava Sciences Inc. 11/15/24 | 10,495 | 50 |
* | Hycroft Mining Holding Corp. Exp. 10/6/25 | 20,000 | 1 |
Total Warrants (Cost $—) | 81 | ||
Preferred Stock (0.0%) | |||
Air T Funding Preference Shares 8.000%, 6/7/49 (Cost $2) | 91 | 1 |
Shares | Market Value• ($000) | ||
Temporary Cash Investments (0.5%) | |||
Money Market Fund (0.5%) | |||
4,5 | Vanguard Market Liquidity Fund, 5.435% (Cost $165,032) | 1,650,727 | 165,040 |
Total Investments (100.0%) (Cost $11,434,357) | 31,242,775 | ||
Other Assets and Liabilities—Net (0.0%) | (11,597) | ||
Net Assets (100%) | 31,231,178 | ||
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 $26,456,000. |
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 $30,390,000 was received for securities on loan. |
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 2024 | 15 | 1,536 | 109 |
E-mini S&P 500 Index | March 2024 | 592 | 142,672 | 2,974 |
E-mini S&P Mid-Cap 400 Index | March 2024 | 30 | 8,429 | 446 |
3,529 |
($000s, except shares, footnotes, and per-share amounts) | Amount |
Assets | |
Investments in Securities, at Value1 | |
Unaffiliated Issuers (Cost $11,269,325) | 31,077,735 |
Affiliated Issuers (Cost $165,032) | 165,040 |
Total Investments in Securities | 31,242,775 |
Investment in Vanguard | 983 |
Cash | 1,472 |
Cash Collateral Pledged—Futures Contracts | 8,268 |
Receivables for Investment Securities Sold | 247 |
Receivables for Accrued Income | 29,869 |
Receivables for Capital Shares Issued | 36,039 |
Total Assets | 31,319,653 |
Liabilities | |
Payables for Investment Securities Purchased | 52,733 |
Collateral for Securities on Loan | 30,390 |
Payables for Capital Shares Redeemed | 4,567 |
Payables to Vanguard | 277 |
Variation Margin Payable—Futures Contracts | 508 |
Total Liabilities | 88,475 |
Net Assets | 31,231,178 |
1 Includes $26,456,000 of securities on loan. | |
At December 31, 2023, net assets consisted of: | |
Paid-in Capital | 11,438,288 |
Total Distributable Earnings (Loss) | 19,792,890 |
Net Assets | 31,231,178 |
Institutional Shares—Net Assets | |
Applicable to 16,393,963 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 1,350,344 |
Net Asset Value Per Share—Institutional Shares | $82.37 |
Institutional Plus Shares—Net Assets | |
Applicable to 362,869,364 outstanding $.001 par value shares of beneficial interest (unlimited authorization) | 29,880,834 |
Net Asset Value Per Share—Institutional Plus Shares | $82.35 |
Year Ended December 31, 2023 | |
($000) | |
Investment Income | |
Income | |
Dividends1 | 446,127 |
Interest2 | 4,881 |
Securities Lending—Net | 5,963 |
Total Income | 456,971 |
Expenses | |
The Vanguard Group—Note B | |
Investment Advisory Services | 574 |
Management and Administrative—Institutional Shares | 242 |
Management and Administrative—Institutional Plus Shares | 3,726 |
Marketing and Distribution—Institutional Shares | 46 |
Marketing and Distribution—Institutional Plus Shares | 753 |
Custodian Fees | 234 |
Auditing Fees | 32 |
Shareholders’ Reports—Institutional Shares | 6 |
Shareholders’ Reports—Institutional Plus Shares | 108 |
Trustees’ Fees and Expenses | 17 |
Other Expenses | 39 |
Total Expenses | 5,777 |
Expenses Paid Indirectly | (33) |
Net Expenses | 5,744 |
Net Investment Income | 451,227 |
Realized Net Gain (Loss) | |
Investment Securities Sold2 | 274,852 |
Futures Contracts | 14,946 |
Realized Net Gain (Loss) | 289,798 |
Change in Unrealized Appreciation (Depreciation) | |
Investment Securities2 | 5,859,073 |
Futures Contracts | 6,095 |
Change in Unrealized Appreciation (Depreciation) | 5,865,168 |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,606,193 |
1 | Dividends are net of foreign withholding taxes of $38,000. |
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 $4,586,000, ($1,000), $1,000, and ($17,000), respectively. Purchases and sales are for temporary cash investment purposes. |
Year Ended December 31, | ||
2023 ($000) | 2022 ($000) | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net Investment Income | 451,227 | 426,547 |
Realized Net Gain (Loss) | 289,798 | 2,985,578 |
Change in Unrealized Appreciation (Depreciation) | 5,865,168 | (9,697,046) |
Net Increase (Decrease) in Net Assets Resulting from Operations | 6,606,193 | (6,284,921) |
Distributions | ||
Institutional Shares | (31,310) | (50,627) |
Institutional Plus Shares | (714,257) | (1,559,456) |
Total Distributions | (745,567) | (1,610,083) |
Capital Share Transactions | ||
Institutional Shares | 185,022 | 376,487 |
Institutional Plus Shares | (236,377) | (2,916,534) |
Net Increase (Decrease) from Capital Share Transactions | (51,355) | (2,540,047) |
Total Increase (Decrease) | 5,809,271 | (10,435,051) |
Net Assets | ||
Beginning of Period | 25,421,907 | 35,856,958 |
End of Period | 31,231,178 | 25,421,907 |
Institutional Shares | |||||
For a Share Outstanding Throughout Each Period | Year Ended December 31, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $67.05 | $88.21 | $73.97 | $68.66 | $54.09 |
Investment Operations | |||||
Net Investment Income1 | 1.204 | 1.131 | 1.086 | 1.171 | 1.182 |
Net Realized and Unrealized Gain (Loss) on Investments | 16.099 | (17.949) | 17.890 | 12.690 | 15.381 |
Total from Investment Operations | 17.303 | (16.818) | 18.976 | 13.861 | 16.563 |
Distributions | |||||
Dividends from Net Investment Income | (1.209) | (1.143) | (1.100) | (1.325) | (1.245) |
Distributions from Realized Capital Gains | (.774) | (3.199) | (3.636) | (2.541) | (.748) |
Distributions from Return of Capital | — | — | — | (4.685) | — |
Total Distributions | (1.983) | (4.342) | (4.736) | (8.551) | (1.993) |
Net Asset Value, End of Period | $82.37 | $67.05 | $88.21 | $73.97 | $68.66 |
Total Return | 26.05% | -19.49% | 25.75% | 20.99% | 30.86% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $1,350 | $907 | $757 | $682 | $722 |
Ratio of Total Expenses to Average Net Assets | 0.03%2 | 0.03%2 | 0.03% | 0.03% | 0.03% |
Ratio of Net Investment Income to Average Net Assets | 1.61% | 1.55% | 1.30% | 1.72% | 1.87% |
Portfolio Turnover Rate | 8% | 8%3 | 5%3 | 11%3 | 5%3 |
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, | ||||
2023 | 2022 | 2021 | 2020 | 2019 | |
Net Asset Value, Beginning of Period | $67.03 | $88.19 | $73.96 | $68.66 | $54.09 |
Investment Operations | |||||
Net Investment Income1 | 1.192 | 1.132 | 1.095 | 1.143 | 1.182 |
Net Realized and Unrealized Gain (Loss) on Investments | 16.109 | (17.949) | 17.877 | 12.715 | 15.387 |
Total from Investment Operations | 17.301 | (16.817) | 18.972 | 13.858 | 16.569 |
Distributions | |||||
Dividends from Net Investment Income | (1.208) | (1.145) | (1.108) | (1.326) | (1.251) |
Distributions from Realized Capital Gains | (.773) | (3.198) | (3.634) | (2.543) | (.748) |
Distributions from Return of Capital | — | — | — | (4.689) | — |
Total Distributions | (1.981) | (4.343) | (4.742) | (8.558) | (1.999) |
Net Asset Value, End of Period | $82.35 | $67.03 | $88.19 | $73.96 | $68.66 |
Total Return | 26.05% | -19.49% | 25.75% | 20.99% | 30.88% |
Ratios/Supplemental Data | |||||
Net Assets, End of Period (Millions) | $29,881 | $24,515 | $35,100 | $32,088 | $40,637 |
Ratio of Total Expenses to Average Net Assets | 0.02%2 | 0.02%2 | 0.02% | 0.02% | 0.02% |
Ratio of Net Investment Income to Average Net Assets | 1.60% | 1.54% | 1.31% | 1.69% | 1.88% |
Portfolio Turnover Rate | 8% | 8%3 | 5%3 | 11%3 | 5%3 |
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, 2023, custodian fee offset arrangements reduced the fund’s expenses by $33,000 (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 | 31,077,378 | — | 271 | 31,077,649 |
Preferred Stock | 1 | — | — | 1 |
Rights | — | 4 | — | 4 |
Warrants | 1 | 30 | 50 | 81 |
Temporary Cash Investments | 165,040 | — | — | 165,040 |
Total | 31,242,420 | 34 | 321 | 31,242,775 |
Derivative Financial Instruments | ||||
Assets | ||||
Futures Contracts1 | 3,529 | — | — | 3,529 |
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 distributions in connection with fund share redemptions were reclassified between the following accounts: |
Amount ($000) | |
Paid-in Capital | 6,374 |
Total Distributable Earnings (Loss) | (6,374) |
Amount ($000) | |
Undistributed Ordinary Income | 31,404 |
Undistributed Long-Term Gains | 24,712 |
Net Unrealized Gains (Losses) | 19,736,774 |
Capital Loss Carryforwards | — |
Qualified Late-Year Losses | — |
Other Temporary Differences | — |
Total | 19,792,890 |
Year Ended December 31, | ||
2023 Amount ($000) | 2022 Amount ($000) | |
Ordinary Income* | 505,822 | 435,146 |
Long-Term Capital Gains | 239,745 | 1,174,937 |
Total | 745,567 | 1,610,083 |
* | Includes short-term capital gains, if any. |
Amount ($000) | |
Tax Cost | 11,506,001 |
Gross Unrealized Appreciation | 20,983,514 |
Gross Unrealized Depreciation | (1,246,740) |
Net Unrealized Appreciation (Depreciation) | 19,736,774 |
F. | During the year ended December 31, 2023, the fund purchased $2,114,680,000 of investment securities and sold $2,413,147,000 of investment securities, other than temporary cash investments. |
G. | Capital share transactions for each class of shares were: |
Year Ended December 31, | |||||
2023 | 2022 | ||||
Amount ($000) | Shares (000) | Amount ($000) | Shares (000) | ||
Institutional Shares | |||||
Issued | 838,426 | 11,492 | 572,414 | 7,712 | |
Issued in Lieu of Cash Distributions | 25,740 | 333 | 38,427 | 519 | |
Redeemed | (679,144) | (8,960) | (234,354) | (3,288) | |
Net Increase (Decrease)—Institutional Shares | 185,022 | 2,865 | 376,487 | 4,943 | |
Institutional Plus Shares | |||||
Issued | 2,140,743 | 29,092 | 4,441,096 | 58,784 | |
Issued in Lieu of Cash Distributions | 667,877 | 8,704 | 1,467,628 | 19,701 | |
Redeemed | (3,044,997) | (40,645) | (8,825,258) | (110,768) | |
Net Increase (Decrease)—Institutional Plus Shares | (236,377) | (2,849) | (2,916,534) | (32,283) |
H. | Significant market disruptions, such as those caused by pandemics (e.g., COVID-19 pandemic), natural or environmental disasters, war (e.g., Russia’s invasion of Ukraine), acts of terrorism, or other events, can adversely affect local and global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund’s investments and fund performance. |
I. | Management has determined that no events or transactions occurred subsequent to December 31, 2023, that would require recognition or disclosure in these financial statements. |
Philadelphia, Pennsylvania
February 15, 2024
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, 2023: $65,000
Fiscal Year Ended December 31, 2022: $61,000
Aggregate Audit Fees of Registered Investment Companies in the Vanguard Group.
Fiscal Year Ended December 31, 2023: $9,326,156
Fiscal Year Ended December 31, 2022: $10,494,508
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, 2023: $3,295,934
Fiscal Year Ended December 31, 2022: $2,757,764
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, 2023: $1,678,928
Fiscal Year Ended December 31, 2022: $5,202,689
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, 2023: $25,000
Fiscal Year Ended December 31, 2022: $298,000
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, 2023: $1,703,928
Fiscal Year Ended December 31, 2022: $5,500,689
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 during the period covered by this report, 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 23, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
VANGUARD INSTITUTIONAL INDEX FUNDS | ||
BY: | /s/ MORTIMER J. BUCKLEY* | |
MORTIMER J. BUCKLEY | ||
CHIEF EXECUTIVE OFFICER | ||
Date: February 23, 2024 | ||
VANGUARD INSTITUTIONAL INDEX FUNDS | ||
BY: | /s/ CHRISTINE BUCHANAN* | |
CHRISTINE BUCHANAN | ||
CHIEF FINANCIAL OFFICER |
Date: February 23, 2024
* By: | /s/ Anne E. Robinson |
Anne E. Robinson, pursuant to a Power of Attorney filed on July 21, 2023 (see File Number 33-53683) and to a Power of Attorney filed on March 29, 2023 (see File Number 2-11444), Incorporated by Reference.