| Common Stocks - 99.0% |
| | | Shares | Value ($) |
| IRELAND - 0.3% | | | |
| Information Technology - 0.3% | | | |
| IT Services - 0.3% | | | |
| Accenture PLC Class A | | 18,514 | 6,544,329 |
| UNITED KINGDOM - 0.1% | | | |
| Energy - 0.1% | | | |
| Energy Equipment & Services - 0.1% | | | |
| TechnipFMC PLC | | 39,212 | 1,028,531 |
| UNITED STATES - 98.6% | | | |
| Communication Services - 4.2% | | | |
| Diversified Telecommunication Services - 1.9% | | | |
| AT&T Inc | | 921,001 | 20,262,022 |
| Verizon Communications Inc | | 371,039 | 16,663,361 |
| | | | 36,925,383 |
| Entertainment - 1.0% | | | |
| Netflix Inc (b) | | 4,437 | 3,147,031 |
| Playtika Holding Corp | | 126,576 | 1,002,482 |
| Walt Disney Co/The | | 140,173 | 13,483,241 |
| Warner Bros Discovery Inc (b) | | 122,648 | 1,011,846 |
| | | | 18,644,600 |
| Interactive Media & Services - 0.2% | | | |
| Meta Platforms Inc Class A | | 7,466 | 4,273,837 |
| Media - 1.0% | | | |
| Comcast Corp Class A | | 475,982 | 19,881,768 |
| Wireless Telecommunication Services - 0.1% | | | |
| T-Mobile US Inc | | 8,019 | 1,654,801 |
TOTAL COMMUNICATION SERVICES | | | 81,380,389 |
| | | | |
| Consumer Discretionary - 6.3% | | | |
| Automobile Components - 0.0% | | | |
| BorgWarner Inc | | 92 | 3,338 |
| Automobiles - 0.3% | | | |
| Ford Motor Co | | 586,532 | 6,193,778 |
| Broadline Retail - 0.1% | | | |
| eBay Inc | | 26,123 | 1,700,869 |
| Macy's Inc | | 19,302 | 302,848 |
| | | | 2,003,717 |
| Distributors - 0.0% | | | |
| Genuine Parts Co | | 88 | 12,292 |
| Diversified Consumer Services - 0.3% | | | |
| ADT Inc (c) | | 576,998 | 4,171,696 |
| Frontdoor Inc (b) | | 2,433 | 116,759 |
| H&R Block Inc | | 9,143 | 581,038 |
| | | | 4,869,493 |
| Hotels, Restaurants & Leisure - 1.4% | | | |
| Boyd Gaming Corp | | 19,902 | 1,286,664 |
| Carnival Corp (b) | | 30,063 | 555,564 |
| Chipotle Mexican Grill Inc | | 23,315 | 1,343,410 |
| Churchill Downs Inc | | 11,572 | 1,564,650 |
| DoorDash Inc Class A (b) | | 8,895 | 1,269,583 |
| International Game Technology PLC | | 448,770 | 9,558,802 |
| Light & Wonder Inc Class A (b) | | 36,316 | 3,294,951 |
| McDonald's Corp | | 18,889 | 5,751,890 |
| MGM Resorts International (b) | | 79,824 | 3,120,320 |
| Norwegian Cruise Line Holdings Ltd (b) | | 8,834 | 181,185 |
| Travel + Leisure Co | | 2,238 | 103,127 |
| | | | 28,030,146 |
| Household Durables - 1.5% | | | |
| DR Horton Inc | | 8,447 | 1,611,434 |
| Garmin Ltd | | 8,473 | 1,491,502 |
| Leggett & Platt Inc | | 160,188 | 2,181,761 |
| Lennar Corp Class A | | 30,328 | 5,685,894 |
| Lennar Corp Class B (c) | | 1,240 | 214,446 |
| M/I Homes Inc (b) | | 13,520 | 2,316,787 |
| Newell Brands Inc | | 21,588 | 165,796 |
| Taylor Morrison Home Corp (b) | | 53,167 | 3,735,513 |
| Toll Brothers Inc | | 36,523 | 5,642,438 |
| TopBuild Corp (b) | | 1,458 | 593,129 |
| Tri Pointe Homes Inc (b) | | 127,794 | 5,790,346 |
| | | | 29,429,046 |
| Specialty Retail - 2.6% | | | |
| Abercrombie & Fitch Co Class A (b) | | 39,325 | 5,501,568 |
| Bath & Body Works Inc | | 36,620 | 1,168,910 |
| Best Buy Co Inc | | 32,626 | 3,370,266 |
| Carvana Co Class A (b) | | 66,226 | 11,530,609 |
| Gap Inc/The (c) | | 231,196 | 5,097,872 |
| Home Depot Inc/The | | 21,950 | 8,894,140 |
| Lithia Motors Inc Class A | | 12,019 | 3,817,715 |
| Lowe's Cos Inc | | 5,414 | 1,466,382 |
| Petco Health & Wellness Co Inc Class A (b) | | 122,432 | 557,066 |
| Ross Stores Inc | | 15,518 | 2,335,614 |
| TJX Cos Inc/The | | 47,171 | 5,544,479 |
| | | | 49,284,621 |
| Textiles, Apparel & Luxury Goods - 0.1% | | | |
| Kontoor Brands Inc | | 6,053 | 495,014 |
| Tapestry Inc | | 34,006 | 1,597,602 |
| | | | 2,092,616 |
TOTAL CONSUMER DISCRETIONARY | | | 121,919,047 |
| | | | |
| Consumer Staples - 8.0% | | | |
| Beverages - 1.0% | | | |
| Boston Beer Co Inc/The Class A (b) | | 9,544 | 2,759,552 |
| Coca-Cola Co/The | | 132,048 | 9,488,969 |
| Keurig Dr Pepper Inc | | 99,081 | 3,713,556 |
| Molson Coors Beverage Co Class B | | 47,959 | 2,758,602 |
| | | | 18,720,679 |
| Consumer Staples Distribution & Retail - 2.6% | | | |
| Kroger Co/The | | 105,115 | 6,023,090 |
| Target Corp | | 33,177 | 5,170,967 |
| US Foods Holding Corp (b) | | 58,018 | 3,568,106 |
| Walmart Inc | | 437,714 | 35,345,406 |
| | | | 50,107,569 |
| Food Products - 0.6% | | | |
| Archer-Daniels-Midland Co | | 39,938 | 2,385,896 |
| General Mills Inc | | 17,040 | 1,258,404 |
| Ingredion Inc | | 5,405 | 742,809 |
| Kraft Heinz Co/The | | 121,160 | 4,253,928 |
| McCormick & Co Inc/MD | | 26,586 | 2,188,028 |
| Mondelez International Inc | | 19,857 | 1,462,865 |
| Post Holdings Inc (b) | | 380 | 43,985 |
| | | | 12,335,915 |
| Household Products - 2.3% | | | |
| Clorox Co/The | | 20,518 | 3,342,587 |
| Colgate-Palmolive Co | | 115,909 | 12,032,513 |
| Kimberly-Clark Corp | | 27,937 | 3,974,876 |
| Procter & Gamble Co/The | | 144,897 | 25,096,161 |
| | | | 44,446,137 |
| Tobacco - 1.5% | | | |
| Altria Group Inc | | 98,667 | 5,035,964 |
| Philip Morris International Inc | | 197,178 | 23,937,409 |
| | | | 28,973,373 |
TOTAL CONSUMER STAPLES | | | 154,583,673 |
| | | | |
| Energy - 5.2% | | | |
| Oil, Gas & Consumable Fuels - 5.2% | | | |
| Antero Midstream Corp | | 249,099 | 3,748,940 |
| California Resources Corp | | 36,401 | 1,909,960 |
| Chevron Corp | | 65,770 | 9,685,948 |
| ConocoPhillips | | 97,965 | 10,313,756 |
| Coterra Energy Inc | | 36,815 | 881,719 |
| Devon Energy Corp | | 71,204 | 2,785,500 |
| Diamondback Energy Inc | | 16,310 | 2,811,844 |
| EOG Resources Inc | | 68,065 | 8,367,230 |
| Exxon Mobil Corp | | 392,565 | 46,016,470 |
| Kinder Morgan Inc | | 169,779 | 3,750,418 |
| Matador Resources Co (c) | | 55,196 | 2,727,786 |
| Murphy Oil Corp | | 4,740 | 159,928 |
| Targa Resources Corp | | 56,709 | 8,393,499 |
| Valero Energy Corp | | 562 | 75,887 |
| | | | 101,628,885 |
| Financials - 21.4% | | | |
| Banks - 5.9% | | | |
| Bank of America Corp | | 754,848 | 29,952,369 |
| Citigroup Inc | | 28,375 | 1,776,275 |
| Citizens Financial Group Inc | | 92,865 | 3,813,966 |
| Commerce Bancshares Inc/MO | | 31,941 | 1,897,295 |
| Hancock Whitney Corp | | 92 | 4,708 |
| JPMorgan Chase & Co | | 252,890 | 53,324,386 |
| KeyCorp | | 182,985 | 3,064,999 |
| PNC Financial Services Group Inc/The | | 30,884 | 5,708,907 |
| TFS Financial Corp | | 15 | 193 |
| Truist Financial Corp | | 102,139 | 4,368,485 |
| United Bankshares Inc/WV | | 2 | 74 |
| Wells Fargo & Co | | 174,203 | 9,840,727 |
| | | | 113,752,384 |
| Capital Markets - 4.7% | | | |
| Affiliated Managers Group Inc | | 717 | 127,483 |
| Bank of New York Mellon Corp/The | | 160,534 | 11,535,973 |
| BlackRock Inc | | 10,589 | 10,054,361 |
| Charles Schwab Corp/The | | 148,677 | 9,635,756 |
| CME Group Inc Class A | | 49,943 | 11,019,923 |
| Federated Hermes Inc Class B | | 23,626 | 868,728 |
| Goldman Sachs Group Inc/The | | 11,534 | 5,710,599 |
| Intercontinental Exchange Inc | | 23,319 | 3,745,964 |
| Morgan Stanley | | 65,795 | 6,858,471 |
| Nasdaq Inc | | 24,967 | 1,822,841 |
| Raymond James Financial Inc | | 28,234 | 3,457,536 |
| Robinhood Markets Inc Class A (b) | | 186,821 | 4,375,348 |
| S&P Global Inc | | 28,902 | 14,931,351 |
| SEI Investments Co | | 79,192 | 5,479,294 |
| State Street Corp | | 13,816 | 1,222,302 |
| | | | 90,845,930 |
| Consumer Finance - 0.5% | | | |
| American Express Co | | 13,836 | 3,752,323 |
| Capital One Financial Corp | | 51,226 | 7,670,070 |
| Discover Financial Services | | 5,298 | 743,256 |
| | | | 12,165,649 |
| Financial Services - 5.7% | | | |
| Berkshire Hathaway Inc Class B (b) | | 159,931 | 73,609,842 |
| Block Inc Class A (b) | | 170,070 | 11,416,799 |
| Enact Holdings Inc | | 23,304 | 846,633 |
| Euronet Worldwide Inc (b) | | 9,572 | 949,830 |
| Jackson Financial Inc | | 38,013 | 3,467,926 |
| Mastercard Inc Class A | | 10,747 | 5,306,869 |
| PayPal Holdings Inc (b) | | 185,659 | 14,486,972 |
| | | | 110,084,871 |
| Insurance - 4.6% | | | |
| Allstate Corp/The | | 33,861 | 6,421,739 |
| American Financial Group Inc/OH | | 18,646 | 2,509,752 |
| Aon PLC | | 31,106 | 10,762,365 |
| Assurant Inc | | 21,875 | 4,350,063 |
| Axis Capital Holdings Ltd (c) | | 15,949 | 1,269,699 |
| Cincinnati Financial Corp | | 36,622 | 4,984,987 |
| CNO Financial Group Inc | | 44,540 | 1,563,353 |
| Globe Life Inc | | 46,843 | 4,961,142 |
| Hartford Financial Services Group Inc/The | | 15,139 | 1,780,498 |
| Loews Corp | | 81,964 | 6,479,254 |
| Marsh & McLennan Cos Inc | | 34,224 | 7,635,032 |
| MetLife Inc | | 71,149 | 5,868,370 |
| Progressive Corp/The | | 27,850 | 7,067,216 |
| Prudential Financial Inc | | 69,838 | 8,457,382 |
| Reinsurance Group of America Inc | | 2,573 | 560,579 |
| Travelers Cos Inc/The | | 12,740 | 2,982,689 |
| Unum Group | | 104,938 | 6,237,515 |
| Willis Towers Watson PLC | | 16,304 | 4,802,017 |
| | | | 88,693,652 |
TOTAL FINANCIALS | | | 415,542,486 |
| | | | |
| Health Care - 16.3% | | | |
| Biotechnology - 3.1% | | | |
| Abbvie Inc | | 72,900 | 14,396,292 |
| Alkermes PLC (b) | | 71,111 | 1,990,397 |
| Amgen Inc | | 10,708 | 3,450,225 |
| Biogen Inc (b) | | 38,488 | 7,460,514 |
| BioMarin Pharmaceutical Inc (b) | | 37,029 | 2,602,768 |
| Exelixis Inc (b) | | 163,839 | 4,251,622 |
| Gilead Sciences Inc | | 220,238 | 18,464,754 |
| Incyte Corp (b) | | 58,246 | 3,850,061 |
| Neurocrine Biosciences Inc (b) | | 6,219 | 716,553 |
| United Therapeutics Corp (b) | | 3,745 | 1,342,021 |
| Vertex Pharmaceuticals Inc (b) | | 4,042 | 1,879,853 |
| | | | 60,405,060 |
| Health Care Equipment & Supplies - 2.9% | | | |
| Abbott Laboratories | | 137,915 | 15,723,689 |
| Baxter International Inc | | 58,725 | 2,229,788 |
| Becton Dickinson & Co | | 44,328 | 10,687,481 |
| Boston Scientific Corp (b) | | 42,316 | 3,546,081 |
| Edwards Lifesciences Corp (b) | | 45,622 | 3,010,596 |
| GE HealthCare Technologies Inc | | 37,714 | 3,539,459 |
| Insulet Corp (b) | | 4 | 930 |
| Medtronic PLC | | 90,434 | 8,141,773 |
| Solventum Corp | | 34,441 | 2,401,227 |
| Stryker Corp | | 13,213 | 4,773,328 |
| Teleflex Inc | | 2,978 | 736,519 |
| Zimmer Biomet Holdings Inc | | 7,964 | 859,714 |
| | | | 55,650,585 |
| Health Care Providers & Services - 4.4% | | | |
| Cardinal Health Inc | | 27,493 | 3,038,526 |
| Centene Corp (b) | | 77,487 | 5,833,221 |
| Chemed Corp | | 1,494 | 897,849 |
| Cigna Group/The | | 37,296 | 12,920,826 |
| CVS Health Corp | | 105,315 | 6,622,207 |
| Elevance Health Inc | | 31,674 | 16,470,481 |
| Labcorp Holdings Inc | | 6,739 | 1,506,032 |
| McKesson Corp | | 8 | 3,955 |
| Quest Diagnostics Inc | | 1,470 | 228,218 |
| UnitedHealth Group Inc | | 59,704 | 34,907,736 |
| Universal Health Services Inc Class B | | 9,544 | 2,185,671 |
| | | | 84,614,722 |
| Health Care Technology - 0.3% | | | |
| Teladoc Health Inc (b) | | 45,828 | 420,701 |
| Veeva Systems Inc Class A (b) | | 31,520 | 6,615,102 |
| | | | 7,035,803 |
| Life Sciences Tools & Services - 2.3% | | | |
| Agilent Technologies Inc | | 13,571 | 2,015,021 |
| Bruker Corp | | 30,260 | 2,089,755 |
| Danaher Corp | | 14,587 | 4,055,478 |
| Illumina Inc (b) | | 50,738 | 6,616,743 |
| IQVIA Holdings Inc (b) | | 17,637 | 4,179,440 |
| Medpace Holdings Inc (b) | | 11,957 | 3,991,247 |
| QIAGEN NV (United States) (c) | | 50,086 | 2,282,419 |
| Thermo Fisher Scientific Inc | | 33,608 | 20,788,901 |
| | | | 46,019,004 |
| Pharmaceuticals - 3.3% | | | |
| Bristol-Myers Squibb Co | | 313,715 | 16,231,614 |
| Elanco Animal Health Inc (b) | | 85,557 | 1,256,832 |
| Jazz Pharmaceuticals PLC (b) | | 2,483 | 276,631 |
| Johnson & Johnson | | 149,293 | 24,194,424 |
| Organon & Co | | 31,208 | 597,009 |
| Pfizer Inc | | 721,061 | 20,867,505 |
| | | | 63,424,015 |
TOTAL HEALTH CARE | | | 317,149,189 |
| | | | |
| Industrials - 16.2% | | | |
| Aerospace & Defense - 4.2% | | | |
| Curtiss-Wright Corp | | 3,024 | 993,959 |
| GE Aerospace | | 118,258 | 22,301,094 |
| General Dynamics Corp | | 10,066 | 3,041,945 |
| Hexcel Corp | | 9,565 | 591,403 |
| Howmet Aerospace Inc | | 5,978 | 599,295 |
| L3Harris Technologies Inc | | 33,364 | 7,936,295 |
| Lockheed Martin Corp | | 19,294 | 11,278,501 |
| Northrop Grumman Corp | | 19,972 | 10,546,614 |
| RTX Corp | | 116,964 | 14,171,358 |
| Textron Inc | | 109,848 | 9,730,336 |
| TransDigm Group Inc | | 104 | 148,421 |
| | | | 81,339,221 |
| Air Freight & Logistics - 0.0% | | | |
| FedEx Corp | | 40 | 10,947 |
| Building Products - 1.4% | | | |
| A O Smith Corp | | 29,557 | 2,655,105 |
| Allegion plc | | 50,124 | 7,305,072 |
| Carlisle Cos Inc | | 10,490 | 4,717,878 |
| Johnson Controls International plc | | 6,429 | 498,954 |
| Owens Corning | | 22,344 | 3,944,163 |
| Trane Technologies PLC | | 18,924 | 7,356,327 |
| | | | 26,477,499 |
| Commercial Services & Supplies - 1.6% | | | |
| Cintas Corp | | 49,403 | 10,171,090 |
| MSA Safety Inc | | 6,534 | 1,158,740 |
| Republic Services Inc | | 62,655 | 12,583,630 |
| Tetra Tech Inc | | 44 | 2,075 |
| Veralto Corp | | 8,448 | 944,993 |
| Vestis Corp | | 92,070 | 1,371,843 |
| Waste Management Inc | | 20,314 | 4,217,186 |
| | | | 30,449,557 |
| Construction & Engineering - 0.2% | | | |
| Arcosa Inc | | 10,196 | 966,173 |
| Valmont Industries Inc | | 10,021 | 2,905,589 |
| | | | 3,871,762 |
| Electrical Equipment - 1.4% | | | |
| AMETEK Inc | | 17,241 | 2,960,452 |
| Eaton Corp PLC | | 42,308 | 14,022,564 |
| Emerson Electric Co | | 24,576 | 2,687,877 |
| EnerSys | | 22,493 | 2,295,411 |
| GE Vernova Inc | | 17,322 | 4,416,764 |
| nVent Electric PLC | | 17,044 | 1,197,510 |
| | | | 27,580,578 |
| Ground Transportation - 1.7% | | | |
| CSX Corp | | 203,988 | 7,043,705 |
| Norfolk Southern Corp | | 43,542 | 10,820,187 |
| Union Pacific Corp | | 64,272 | 15,841,763 |
| | | | 33,705,655 |
| Industrial Conglomerates - 0.9% | | | |
| 3M Co | | 92,068 | 12,585,696 |
| Honeywell International Inc | | 25,881 | 5,349,861 |
| | | | 17,935,557 |
| Machinery - 2.7% | | | |
| Caterpillar Inc | | 26,595 | 10,401,836 |
| CNH Industrial NV Class A | | 42,981 | 477,089 |
| Cummins Inc | | 19,505 | 6,315,524 |
| Donaldson Co Inc | | 84 | 6,190 |
| Flowserve Corp | | 83,922 | 4,337,928 |
| Fortive Corp | | 18,904 | 1,492,093 |
| Gates Industrial Corp PLC (b) | | 70,887 | 1,244,067 |
| Illinois Tool Works Inc | | 8,754 | 2,294,161 |
| ITT Inc | | 23,739 | 3,549,218 |
| Oshkosh Corp | | 30,660 | 3,072,439 |
| PACCAR Inc | | 69,869 | 6,894,673 |
| Parker-Hannifin Corp | | 3,330 | 2,103,961 |
| Westinghouse Air Brake Technologies Corp | | 60,231 | 10,948,189 |
| | | | 53,137,368 |
| Marine Transportation - 0.1% | | | |
| Matson Inc | | 8,826 | 1,258,764 |
| Passenger Airlines - 0.2% | | | |
| SkyWest Inc (b) | | 37,516 | 3,189,610 |
| Professional Services - 1.8% | | | |
| Automatic Data Processing Inc | | 7,000 | 1,937,110 |
| CACI International Inc (b) | | 22,771 | 11,489,336 |
| Leidos Holdings Inc | | 58,485 | 9,533,055 |
| SS&C Technologies Holdings Inc | | 154,940 | 11,498,097 |
| | | | 34,457,598 |
| Trading Companies & Distributors - 0.0% | | | |
| Boise Cascade Co | | 7,212 | 1,016,748 |
TOTAL INDUSTRIALS | | | 314,430,864 |
| | | | |
| Information Technology - 9.5% | | | |
| Communications Equipment - 0.9% | | | |
| Cisco Systems Inc | | 304,491 | 16,205,012 |
| Extreme Networks Inc (b) | | 38,780 | 582,863 |
| Motorola Solutions Inc | | 1,526 | 686,135 |
| | | | 17,474,010 |
| Electronic Equipment, Instruments & Components - 0.4% | | | |
| Arrow Electronics Inc (b)(c) | | 10,756 | 1,428,719 |
| Avnet Inc | | 2,399 | 130,290 |
| Crane NXT Co | | 17,874 | 1,002,731 |
| Itron Inc (b) | | 4,104 | 438,348 |
| TD SYNNEX Corp | | 3,871 | 464,830 |
| Trimble Inc (b) | | 81,700 | 5,072,753 |
| | | | 8,537,671 |
| IT Services - 0.8% | | | |
| International Business Machines Corp | | 25,997 | 5,747,417 |
| Kyndryl Holdings Inc (b) | | 63,941 | 1,469,364 |
| Okta Inc Class A (b) | | 6,309 | 469,011 |
| Twilio Inc Class A (b) | | 129,262 | 8,430,468 |
| | | | 16,116,260 |
| Semiconductors & Semiconductor Equipment - 3.7% | | | |
| Advanced Micro Devices Inc (b) | | 18,781 | 3,081,586 |
| Analog Devices Inc | | 3,425 | 788,332 |
| Applied Materials Inc | | 49,448 | 9,990,968 |
| Broadcom Inc | | 23,043 | 3,974,918 |
| Cirrus Logic Inc (b) | | 18,705 | 2,323,348 |
| Intel Corp | | 686,543 | 16,106,299 |
| KLA Corp | | 939 | 727,171 |
| Micron Technology Inc | | 89,379 | 9,269,496 |
| NVIDIA Corp | | 32,877 | 3,992,583 |
| Onto Innovation Inc (b) | | 14,395 | 2,987,826 |
| Qorvo Inc (b) | | 16,347 | 1,688,645 |
| QUALCOMM Inc | | 52,613 | 8,946,841 |
| Skyworks Solutions Inc | | 30,630 | 3,025,325 |
| Texas Instruments Inc | | 15,461 | 3,193,779 |
| | | | 70,097,117 |
| Software - 3.0% | | | |
| Adobe Inc (b) | | 14,812 | 7,669,357 |
| ANSYS Inc (b) | | 712 | 226,865 |
| DocuSign Inc (b) | | 115,638 | 7,179,963 |
| Dropbox Inc Class A (b) | | 315,900 | 8,033,337 |
| MicroStrategy Inc Class A | | 4,358 | 734,759 |
| Pegasystems Inc | | 19,989 | 1,460,996 |
| Salesforce Inc | | 48,510 | 13,277,672 |
| Servicenow Inc (b) | | 8 | 7,155 |
| SolarWinds Corp | | 50,950 | 664,898 |
| Teradata Corp (b) | | 177,517 | 5,385,866 |
| Workday Inc Class A (b) | | 9,795 | 2,393,996 |
| Zoom Video Communications Inc Class A (b) | | 158,987 | 11,087,753 |
| | | | 58,122,617 |
| Technology Hardware, Storage & Peripherals - 0.7% | | | |
| Apple Inc | | 16,898 | 3,937,234 |
| Dell Technologies Inc Class C | | 11,415 | 1,353,134 |
| Hewlett Packard Enterprise Co | | 194,572 | 3,980,943 |
| NetApp Inc | | 19,768 | 2,441,546 |
| Western Digital Corp (b) | | 35,897 | 2,451,406 |
| | | | 14,164,263 |
TOTAL INFORMATION TECHNOLOGY | | | 184,511,938 |
| | | | |
| Materials - 4.9% | | | |
| Chemicals - 2.3% | | | |
| Axalta Coating Systems Ltd (b) | | 12,675 | 458,708 |
| DuPont de Nemours Inc | | 116,361 | 10,368,929 |
| Ecolab Inc | | 40,062 | 10,229,030 |
| International Flavors & Fragrances Inc | | 13,876 | 1,456,009 |
| Linde PLC | | 20,585 | 9,816,163 |
| PPG Industries Inc | | 91,791 | 12,158,636 |
| | | | 44,487,475 |
| Construction Materials - 0.8% | | | |
| CRH PLC | | 160,444 | 14,879,577 |
| Containers & Packaging - 0.8% | | | |
| Ardagh Metal Packaging SA | | 55,505 | 209,254 |
| Berry Global Group Inc | | 7,029 | 477,831 |
| Crown Holdings Inc | | 58,643 | 5,622,691 |
| Packaging Corp of America | | 10,603 | 2,283,886 |
| Sealed Air Corp | | 142,430 | 5,170,209 |
| Sonoco Products Co | | 24,203 | 1,322,210 |
| | | | 15,086,081 |
| Metals & Mining - 0.7% | | | |
| Hecla Mining Co | | 149,342 | 996,111 |
| Newmont Corp | | 22,789 | 1,218,072 |
| Nucor Corp | | 45,792 | 6,884,369 |
| Steel Dynamics Inc | | 38,524 | 4,857,106 |
| Worthington Steel Inc | | 13,886 | 472,263 |
| | | | 14,427,921 |
| Paper & Forest Products - 0.3% | | | |
| Louisiana-Pacific Corp | | 56,674 | 6,090,188 |
TOTAL MATERIALS | | | 94,971,242 |
| | | | |
| Real Estate - 2.9% | | | |
| Health Care REITs - 0.2% | | | |
| Healthpeak Properties Inc | | 132,475 | 3,029,703 |
| Industrial REITs - 0.0% | | | |
| First Industrial Realty Trust Inc | | 46,244 | 2,588,739 |
| Office REITs - 0.0% | | | |
| Cousins Properties Inc | | 49 | 1,445 |
| Real Estate Management & Development - 0.3% | | | |
| Zillow Group Inc Class A (b) | | 36,202 | 2,241,990 |
| Zillow Group Inc Class C (b) | | 52,841 | 3,373,898 |
| | | | 5,615,888 |
| Residential REITs - 0.4% | | | |
| American Homes 4 Rent Class A | | 60,263 | 2,313,497 |
| Equity Residential | | 46,746 | 3,480,707 |
| Invitation Homes Inc | | 49,586 | 1,748,402 |
| | | | 7,542,606 |
| Retail REITs - 0.4% | | | |
| Brixmor Property Group Inc | | 196,918 | 5,486,135 |
| Regency Centers Corp | | 18,756 | 1,354,746 |
| | | | 6,840,881 |
| Specialized REITs - 1.6% | | | |
| Crown Castle Inc | | 108,373 | 12,856,289 |
| Equinix Inc | | 987 | 876,091 |
| Gaming and Leisure Properties Inc | | 20,195 | 1,039,033 |
| Lamar Advertising Co Class A | | 104 | 13,894 |
| Public Storage Operating Co | | 30,880 | 11,236,306 |
| VICI Properties Inc | | 153,785 | 5,122,578 |
| | | | 31,144,191 |
TOTAL REAL ESTATE | | | 56,763,453 |
| | | | |
| Utilities - 3.7% | | | |
| Electric Utilities - 2.8% | | | |
| Constellation Energy Corp | | 17,113 | 4,449,722 |
| Duke Energy Corp | | 25,943 | 2,991,228 |
| Edison International | | 34,945 | 3,043,360 |
| Evergy Inc | | 110,305 | 6,840,013 |
| Eversource Energy | | 42,564 | 2,896,480 |
| Exelon Corp | | 120,213 | 4,874,637 |
| NextEra Energy Inc | | 174,418 | 14,743,554 |
| OGE Energy Corp | | 29,706 | 1,218,540 |
| Otter Tail Corp (c) | | 3,901 | 304,901 |
| PG&E Corp | | 354,215 | 7,002,831 |
| Southern Co/The | | 16,248 | 1,465,245 |
| Xcel Energy Inc | | 72,776 | 4,752,273 |
| | | | 54,582,784 |
| Gas Utilities - 0.0% | | | |
| UGI Corp | | 48,377 | 1,210,393 |
| Independent Power and Renewable Electricity Producers - 0.4% | | | |
| AES Corp/The | | 236,194 | 4,738,052 |
| Brookfield Renewable Corp Class A (United States) | | 8,182 | 267,224 |
| Clearway Energy Inc Class A | | 14,477 | 412,160 |
| Clearway Energy Inc Class C (c) | | 30,932 | 948,994 |
| Vistra Corp | | 8,869 | 1,051,331 |
| | | | 7,417,761 |
| Multi-Utilities - 0.5% | | | |
| Black Hills Corp | | 36,115 | 2,207,349 |
| CenterPoint Energy Inc | | 93,430 | 2,748,711 |
| DTE Energy Co | | 14,688 | 1,886,085 |
| Public Service Enterprise Group Inc | | 23,371 | 2,084,927 |
| | | | 8,927,072 |
TOTAL UTILITIES | | | 72,138,010 |
| | | | |
| TOTAL UNITED STATES | | | 1,915,019,176 |
| TOTAL COMMON STOCKS (Cost $1,674,309,911) | | | 1,922,592,036 |
| | | | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
