|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS — 99.8%
|
|||||
|
|
Aerospace & Defense — 1.1%
|
|
|||
|
1,913
|
General Electric Co.
|
$470,426
|
|||
|
12,419
|
Howmet Aerospace, Inc.
|
2,109,864
|
|||
|
659
|
Lockheed Martin Corp.
|
317,888
|
|||
|
3,061
|
Textron, Inc.
|
226,606
|
|||
|
|
|
3,124,784
|
|||
|
|
Air Freight & Logistics —
0.7%
|
|
|||
|
1,190
|
Expeditors International of
Washington, Inc.
|
134,149
|
|||
|
5,433
|
FedEx Corp.
|
1,184,937
|
|||
|
6,630
|
United Parcel Service, Inc.,
Class B
|
646,690
|
|||
|
|
|
1,965,776
|
|||
|
|
Automobile Components —
0.2%
|
|
|||
|
1,325
|
Aptiv PLC (a)
|
88,523
|
|||
|
14,969
|
BorgWarner, Inc.
|
495,324
|
|||
|
|
|
583,847
|
|||
|
|
Automobiles — 0.3%
|
|
|||
|
2,755
|
Tesla, Inc. (a)
|
954,497
|
|||
|
|
Banks — 0.7%
|
|
|||
|
3,070
|
Citizens Financial Group, Inc.
|
123,874
|
|||
|
18,699
|
Regions Financial Corp.
|
400,907
|
|||
|
21,985
|
Wells Fargo & Co.
|
1,644,038
|
|||
|
|
|
2,168,819
|
|||
|
|
Biotechnology — 2.6%
|
|
|||
|
9,553
|
AbbVie, Inc.
|
1,777,909
|
|||
|
700
|
Alnylam Pharmaceuticals,
Inc. (a)
|
213,192
|
|||
|
4,601
|
Biogen, Inc. (a)
|
597,164
|
|||
|
31,969
|
Gilead Sciences, Inc.
|
3,519,147
|
|||
|
11,744
|
Incyte Corp. (a)
|
764,065
|
|||
|
2,867
|
United Therapeutics Corp. (a)
|
914,143
|
|||
|
|
|
7,785,620
|
|||
|
|
Broadline Retail — 2.4%
|
|
|||
|
29,766
|
Amazon.com, Inc. (a)
|
6,102,328
|
|||
|
2,380
|
eBay, Inc.
|
174,144
|
|||
|
13,429
|
Etsy, Inc. (a)
|
743,295
|
|||
|
|
|
7,019,767
|
|||
|
|
Building Products — 1.8%
|
|
|||
|
16,673
|
A.O. Smith Corp.
|
1,072,241
|
|||
|
3,065
|
Allegion PLC
|
437,375
|
|||
|
5,780
|
Builders FirstSource, Inc. (a)
|
622,390
|
|||
|
338
|
Carlisle Cos., Inc.
|
128,501
|
|||
|
1,833
|
Johnson Controls
International PLC
|
185,811
|
|||
|
510
|
Lennox International, Inc.
|
287,870
|
|||
|
19,047
|
Masco Corp.
|
1,188,914
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Building Products (Continued)
|
|
|||
|
2,721
|
Owens Corning
|
$364,478
|
|||
|
2,568
|
Trane Technologies PLC
|
1,104,933
|
|||
|
|
|
5,392,513
|
|||
|
|
Capital Markets — 3.6%
|
|
|||
|
837
|
Ameriprise Financial, Inc.
|
426,234
|
|||
|
29,722
|
Bank of New York Mellon (The)
Corp.
|
2,633,666
|
|||
|
1,009
|
Blackrock, Inc.
|
988,709
|
|||
|
4,117
|
Cboe Global Markets, Inc.
|
943,287
|
|||
|
7,623
|
CME Group, Inc.
|
2,203,047
|
|||
|
37,587
|
Franklin Resources, Inc.
|
813,383
|
|||
|
1,655
|
Intercontinental Exchange, Inc.
|
297,569
|
|||
|
15,128
|
Invesco Ltd.
|
218,751
|
|||
|
328
|
Moody’s Corp.
|
157,217
|
|||
|
488
|
S&P Global, Inc.
|
250,276
|
|||
|
11,236
|
T. Rowe Price Group, Inc.
|
1,051,577
|
|||
|
5,329
|
Tradeweb Markets, Inc., Class A
|
769,774
|
|||
|
|
|
10,753,490
|
|||
|
|
Chemicals — 1.4%
|
|
|||
|
2,710
|
CF Industries Holdings, Inc.
|
245,824
|
|||
|
5,933
|
Ecolab, Inc.
|
1,575,923
|
|||
|
10,879
|
LyondellBasell Industries N.V.,
Class A
|
614,555
|
|||
|
10,556
|
PPG Industries, Inc.
|
1,169,605
|
|||
|
2,559
|
RPM International, Inc.
|
291,316
|
|||
|
1,165
|
Sherwin-Williams (The) Co.
|
418,014
|
|||
|
|
|
4,315,237
|
|||
|
|
Commercial Services &
Supplies — 0.8%
|
|
|||
|
8,369
|
Cintas Corp.
|
1,895,578
|
|||
|
6,127
|
Rollins, Inc.
|
350,771
|
|||
|
|
|
2,246,349
|
|||
|
|
Communications Equipment
— 2.9%
|
|
|||
|
3,573
|
Arista Networks, Inc. (a)
|
309,565
|
|||
|
63,735
|
Cisco Systems, Inc.
|
4,017,855
|
|||
|
7,516
|
F5, Inc. (a)
|
2,144,916
|
|||
|
3,593
|
Motorola Solutions, Inc.
|
1,492,460
|
|||
|
2,056
|
Ubiquiti, Inc.
|
812,716
|
|||
|
|
|
8,777,512
|
|||
|
|
Construction & Engineering
— 0.8%
|
|
|||
|
346
|
Comfort Systems USA, Inc.
|
165,467
|
|||
|
4,795
|
EMCOR Group, Inc.
|
2,262,569
|
|||
|
|
|
2,428,036
|
|||
|
|
Consumer Finance — 0.8%
|
|
|||
|
3,069
|
American Express Co.
|
902,439
|
|||
|
24,827
|
Synchrony Financial
|
1,431,277
|
|||
|
|
|
2,333,716
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Consumer Staples Distribution
& Retail — 2.3%
|
|
|||
|
6,592
|
BJ’s Wholesale Club Holdings,
Inc. (a)
|
$746,280
|
|||
|
23,348
|
Kroger (The) Co.
|
1,593,034
|
|||
|
5,320
|
Sprouts Farmers Market, Inc. (a)
|
919,615
|
|||
|
5,098
|
Target Corp.
|
479,263
|
|||
|
4,740
|
US Foods Holding Corp. (a)
|
375,029
|
|||
|
27,366
|
Walmart, Inc.
|
2,701,572
|
|||
|
|
|
6,814,793
|
|||
|
|
Containers & Packaging —
0.3%
|
|
|||
|
11,050
|
Amcor PLC
|
100,666
|
|||
|
3,902
|
Packaging Corp. of America
|
753,749
|
|||
|
|
|
854,415
|
|||
|
|
Distributors — 0.4%
|
|
|||
|
31,651
|
LKQ Corp.
|
1,280,916
|
|||
|
|
Diversified REITs — 0.3%
|
|
|||
|
13,661
|
WP Carey, Inc.
|
857,364
|
|||
|
|
Diversified Telecommunication
Services — 0.8%
|
|
|||
|
23,994
|
AT&T, Inc.
|
667,033
|
|||
|
42,024
|
Verizon Communications, Inc.
|
1,847,375
|
|||
|
|
|
2,514,408
|
|||
|
|
Electric Utilities — 3.6%
|
|
|||
|
5,285
|
Constellation Energy Corp.
|
1,618,003
|
|||
|
17,021
|
Edison International
|
947,218
|
|||
|
27,232
|
Evergy, Inc.
|
1,808,477
|
|||
|
36,905
|
FirstEnergy Corp.
|
1,547,796
|
|||
|
23,132
|
NRG Energy, Inc.
|
3,606,279
|
|||
|
32,277
|
PPL Corp.
|
1,121,626
|
|||
|
1,665
|
Southern (The) Co.
|
149,850
|
|||
|
|
|
10,799,249
|
|||
|
|
Electrical Equipment — 0.5%
|
|
|||
|
3,372
|
Eaton Corp. PLC
|
1,079,715
|
|||
|
3,055
|
Vertiv Holdings Co., Class A
|
329,726
|
|||
|
|
|
1,409,441
|
|||
|
|
Electronic Equipment,
Instruments & Components
— 1.3%
|
|
|||
|
18,409
|
Amphenol Corp., Class A
|
1,655,521
|
|||
|
4,757
|
CDW Corp.
|
857,973
|
|||
|
3,224
|
Jabil, Inc.
|
541,664
|
|||
|
3,908
|
Keysight Technologies, Inc. (a)
|
613,712
|
|||
|
1,709
|
TE Connectivity PLC
|
273,560
|
|||
|
|
|
3,942,430
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Energy Equipment & Services
— 0.1%
|
|
|||
|
3,373
|
Baker Hughes Co.
|
$124,970
|
|||
|
4,751
|
Halliburton Co.
|
93,072
|
|||
|
|
|
218,042
|
|||
|
|
Entertainment — 1.6%
|
|
|||
|
10,556
|
Electronic Arts, Inc.
|
1,517,742
|
|||
|
2,770
|
Netflix, Inc. (a)
|
3,344,027
|
|||
|
|
|
4,861,769
|
|||
|
|
Financial Services — 3.2%
|
|
|||
|
4,200
|
Berkshire Hathaway, Inc.,
Class B (a)
|
2,116,632
|
|||
|
3,730
|
Corebridge Financial, Inc.
|
121,635
|
|||
|
8,006
|
Fidelity National Information
Services, Inc.
|
637,358
|
|||
|
9,499
|
Fiserv, Inc. (a)
|
1,546,342
|
|||
|
6,621
|
Global Payments, Inc.
|
500,614
|
|||
|
1,220
|
Mastercard, Inc., Class A
|
714,432
|
|||
|
8,185
|
Visa, Inc., Class A
|
2,989,080
|
|||
|
110,257
|
Western Union (The) Co.
|
1,023,185
|
|||
|
|
|
9,649,278
|
|||
|
|
Food Products — 0.3%
|
|
|||
|
4,750
|
Archer-Daniels-Midland Co.
|
229,282
|
|||
|
2,731
|
Bunge Global S.A.
|
213,428
|
|||
|
5,275
|
Conagra Brands, Inc.
|
120,745
|
|||
|
2,211
|
General Mills, Inc.
|
119,969
|
|||
|
7,837
|
Kraft Heinz (The) Co.
|
209,483
|
|||
|
|
|
892,907
|
|||
|
|
Health Care Equipment &
Supplies — 1.8%
|
|
|||
|
7,696
|
Abbott Laboratories
|
1,028,032
|
|||
|
22,415
|
Boston Scientific Corp. (a)
|
2,359,403
|
|||
|
3,403
|
Hologic, Inc. (a)
|
211,564
|
|||
|
1,473
|
ResMed, Inc.
|
360,576
|
|||
|
9,180
|
Solventum Corp. (a)
|
670,966
|
|||
|
1,866
|
Stryker Corp.
|
714,006
|
|||
|
1,347
|
Zimmer Biomet Holdings, Inc.
|
124,153
|
|||
|
|
|
5,468,700
|
|||
|
|
Health Care Providers &
Services — 3.7%
|
|
|||
|
2,053
|
Cardinal Health, Inc.
|
317,065
|
|||
|
6,348
|
Cencora, Inc.
|
1,848,792
|
|||
|
8,341
|
Centene Corp. (a)
|
470,766
|
|||
|
1,029
|
Cigna Group (The)
|
325,823
|
|||
|
4,432
|
CVS Health Corp.
|
283,825
|
|||
|
3,563
|
Elevance Health, Inc.
|
1,367,622
|
|||
|
2,393
|
HCA Healthcare, Inc.
|
912,666
|
|||
|
17,513
|
Henry Schein, Inc. (a)
|
1,225,735
|
|||
|
1,360
|
Humana, Inc.
|
317,057
|
|||
|
681
|
Labcorp Holdings, Inc.
|
169,549
|
|||
|
1,699
|
McKesson Corp.
|
1,222,447
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Health Care Providers &
Services (Continued)
|
|
|||
|
849
|
Molina Healthcare, Inc. (a)
|
$258,979
|
|||
|
1,377
|
UnitedHealth Group, Inc.
|
415,730
|
|||
|
10,210
|
Universal Health Services, Inc.,
Class B
|
1,943,473
|
|||
|
|
|
11,079,529
|
|||
|
|
Health Care REITs — 1.0%
|
|
|||
|
11,389
|
Ventas, Inc.
|
732,085
|
|||
|
14,820
|
Welltower, Inc.
|
2,286,430
|
|||
|
|
|
3,018,515
|
|||
|
|
Hotel & Resort REITs — 0.4%
|
|
|||
|
71,609
|
Host Hotels & Resorts, Inc.
|
1,109,223
|
|||
|
|
Hotels, Restaurants & Leisure
— 1.4%
|
|
|||
|
290
|
Booking Holdings, Inc.
|
1,600,490
|
|||
|
1,822
|
DoorDash, Inc., Class A (a)
|
380,160
|
|||
|
7,672
|
Expedia Group, Inc.
|
1,279,306
|
|||
|
3,070
|
Hilton Worldwide Holdings, Inc.
|
762,711
|
|||
|
|
|
4,022,667
|
|||
|
|
Household Durables — 1.1%
|
|
|||
|
3,579
|
D.R. Horton, Inc.
|
422,537
|
|||
|
4,419
|
Garmin Ltd.
|
896,924
|
|||
|
3,563
|
Lennar Corp., Class A
|
377,963
|
|||
|
7
|
NVR, Inc. (a)
|
49,812
|
|||
|
11,240
|
PulteGroup, Inc.
|
1,101,857
|
|||
|
3,044
|
Toll Brothers, Inc.
|
317,337
|
|||
|
|
|
3,166,430
|
|||
|
|
Household Products — 1.1%
|
|
|||
|
7,179
|
Colgate-Palmolive Co.
|
667,216
|
|||
|
1,352
|
Kimberly-Clark Corp.
|
194,364
|
|||
|
13,963
|
Procter & Gamble (The) Co.
|
2,372,174
|
|||
|
|
|
3,233,754
|
|||
|
|
Independent Power and
Renewable Electricity
Producers — 0.4%
|
|
|||
|
7,487
|
Vistra Corp.
|
1,202,188
|
|||
|
|
Industrial Conglomerates —
0.6%
|
|
|||
|
12,539
|
3M Co.
|
1,860,161
|
|||
|
|
Insurance — 4.9%
|
|
|||
|
12,868
|
Aflac, Inc.
|
1,332,353
|
|||
|
2,729
|
Allstate (The) Corp.
|
572,735
|
|||
|
3,408
|
American International Group,
Inc.
|
288,453
|
|||
|
1,542
|
Assurant, Inc.
|
312,995
|
|||
|
8,201
|
Brown & Brown, Inc.
|
925,893
|
|||
|
27,042
|
CNA Financial Corp.
|
1,295,582
|
|||
|
3,070
|
Everest Group Ltd.
|
1,065,873
|
|||
|
8,136
|
Globe Life, Inc.
|
991,534
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Insurance (Continued)
|
|
|||
|
18,353
|
Hartford Insurance Group (The),
Inc.
|
$2,382,954
|
|||
|
5,796
|
Loews Corp.
|
517,525
|
|||
|
3,230
|
MetLife, Inc.
|
253,814
|
|||
|
3,061
|
Principal Financial Group, Inc.
|
238,421
|
|||
|
8,511
|
Progressive (The) Corp.
|
2,425,039
|
|||
|
1,019
|
Prudential Financial, Inc.
|
105,864
|
|||
|
9,191
|
Unum Group
|
750,997
|
|||
|
3,362
|
Willis Towers Watson PLC
|
1,064,241
|
|||
|
|
|
14,524,273
|
|||
|
|
Interactive Media & Services
— 4.8%
|
|
|||
|
32,499
|
Alphabet, Inc., Class A
|
5,581,378
|
|||
|
30,442
|
Match Group, Inc.
|
911,433
|
|||
|
11,401
|
Meta Platforms, Inc., Class A
|
7,382,034
|
|||
|
17,859
|
Pinterest, Inc., Class A (a)
|
555,594
|
|||
|
|
|
14,430,439
|
|||
|
|
IT Services — 2.6%
|
|
|||
|
1,870
|
Accenture PLC, Class A
|
592,454
|
|||
|
18,535
|
Cognizant Technology Solutions
Corp., Class A
|
1,501,150
|
|||
|
13,426
|
DXC Technology Co. (a)
|
204,075
|
|||
|
678
|
EPAM Systems, Inc. (a)
|
118,304
|
|||
|
341
|
Gartner, Inc. (a)
|
148,819
|
|||
|
7,302
|
GoDaddy, Inc., Class A (a)
|
1,330,059
|
|||
|
1,189
|
International Business Machines
Corp.
|
308,022
|
|||
|
963
|
Snowflake, Inc., Class A (a)
|
198,060
|
|||
|
3,070
|
Twilio, Inc., Class A (a)
|
361,339
|
|||
|
10,503
|
VeriSign, Inc.
|
2,861,753
|
|||
|
|
|
7,624,035
|
|||
|
|
Machinery — 1.7%
|
|
|||
|
1,530
|
Caterpillar, Inc.
|
532,486
|
|||
|
1,701
|
Cummins, Inc.
|
546,837
|
|||
|
9,363
|
PACCAR, Inc.
|
878,718
|
|||
|
841
|
Parker-Hannifin Corp.
|
559,013
|
|||
|
4,934
|
Snap-on, Inc.
|
1,582,580
|
|||
|
4,410
|
Westinghouse Air Brake
Technologies Corp.
|
892,231
|
|||
|
|
|
4,991,865
|
|||
|
|
Media — 1.5%
|
|
|||
|
41,678
|
Comcast Corp., Class A
|
1,440,809
|
|||
|
54,612
|
Fox Corp., Class A
|
3,000,383
|
|||
|
|
|
4,441,192
|
|||
|
|
Metals & Mining — 0.9%
|
|
|||
|
3,739
|
Nucor Corp.
|
408,897
|
|||
|
5,103
|
Reliance, Inc.
|
1,494,261
|
|||
|
1,579
|
Southern Copper Corp.
|
143,547
|
|||
|
4,419
|
Steel Dynamics, Inc.
|
543,846
|
|||
|
|
|
2,590,551
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Multi-Utilities — 1.0%
|
|
|||
|
15,519
|
Consolidated Edison, Inc.
|
$1,621,580
|
|||
|
19,002
|
NiSource, Inc.
|
751,339
|
|||
|
7,087
|
Public Service Enterprise Group,
Inc.
|
574,260
|
|||
|
1,362
|
WEC Energy Group, Inc.
|
146,333
|
|||
|
|
|
3,093,512
|
|||
|
|
Oil, Gas & Consumable Fuels
— 3.3%
|
|
|||
|
4,076
|
Cheniere Energy, Inc.
|
965,971
|
|||
|
8,152
|
Chevron Corp.
|
1,114,378
|
|||
|
8,689
|
ConocoPhillips
|
741,606
|
|||
|
12,240
|
Devon Energy Corp.
|
370,382
|
|||
|
7,615
|
EOG Resources, Inc.
|
826,761
|
|||
|
18,367
|
Exxon Mobil Corp.
|
1,878,944
|
|||
|
5,626
|
HF Sinclair Corp.
|
203,267
|
|||
|
29,801
|
Kinder Morgan, Inc.
|
835,620
|
|||
|
691
|
Marathon Petroleum Corp.
|
111,071
|
|||
|
10,394
|
Targa Resources Corp.
|
1,641,525
|
|||
|
521
|
Texas Pacific Land Corp.
|
580,410
|
|||
|
3,739
|
Valero Energy Corp.
|
482,219
|
|||
|
|
|
9,752,154
|
|||
|
|
Pharmaceuticals — 1.4%
|
|
|||
|
20,061
|
Bristol-Myers Squibb Co.
|
968,545
|
|||
|
6,630
|
Johnson & Johnson
|
1,029,042
|
|||
|
19,401
|
Merck & Co., Inc.
|
1,490,773
|
|||
|
54,764
|
Organon & Co.
|
504,924
|
|||
|
10,369
|
Viatris, Inc.
|
91,144
|
|||
|
|
|
4,084,428
|
|||
|
|
Professional Services — 0.4%
|
|
|||
|
849
|
Amentum Holdings, Inc. (a)
|
17,540
|
|||
|
1,877
|
Jacobs Solutions, Inc.
|
237,065
|
|||
|
2,561
|
Leidos Holdings, Inc.
|
380,360
|
|||
|
7,990
|
Robert Half, Inc.
|
365,862
|
|||
|
3,548
|
SS&C Technologies Holdings,
Inc.
|
286,714
|
|||
|
|
|
1,287,541
|
|||
|
|
Residential REITs — 0.8%
|
|
|||
|
680
|
AvalonBay Communities, Inc.
|
140,604
|
|||
|
4,798
|
Camden Property Trust
|
563,717
|
|||
|
495
|
Essex Property Trust, Inc.
|
140,530
|
|||
|
7,999
|
Mid-America Apartment
Communities, Inc.
|
1,253,043
|
|||
|
3,346
|
UDR, Inc.
|
138,625
|
|||
|
|
|
2,236,519
|
|||
|
|
Retail REITs — 0.4%
|
|
|||
|
2,001
|
Regency Centers Corp.
|
144,372
|
|||
|
7,192
|
Simon Property Group, Inc.
|
1,172,800
|
|||
|
|
|
1,317,172
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Semiconductors &
Semiconductor Equipment
— 7.9%
|
|
|||
|
8,509
|
Applied Materials, Inc.
|
$1,333,786
|
|||
|
8,184
|
Broadcom, Inc.
|
1,981,101
|
|||
|
1,060
|
KLA Corp.
|
802,293
|
|||
|
7,988
|
Lam Research Corp.
|
645,350
|
|||
|
111,616
|
NVIDIA Corp.
|
15,082,670
|
|||
|
2,902
|
NXP Semiconductors N.V.
|
554,659
|
|||
|
7,982
|
ON Semiconductor Corp. (a)
|
335,404
|
|||
|
3,236
|
Qorvo, Inc. (a)
|
246,001
|
|||
|
11,573
|
QUALCOMM, Inc.
|
1,680,399
|
|||
|
12,921
|
Skyworks Solutions, Inc.
|
891,937
|
|||
|
|
|
23,553,600
|
|||
|
|
Software — 7.1%
|
|
|||
|
1,393
|
Adobe, Inc. (a)
|
578,220
|
|||
|
2,537
|
AppLovin Corp., Class A (a)
|
997,041
|
|||
|
634
|
Fair Isaac Corp. (a)
|
1,094,462
|
|||
|
9,029
|
Gen Digital, Inc.
|
257,146
|
|||
|
857
|
Guidewire Software, Inc. (a)
|
184,272
|
|||
|
31,938
|
Microsoft Corp.
|
14,702,978
|
|||
|
6,644
|
Palantir Technologies, Inc.,
Class A (a)
|
875,546
|
|||
|
3,572
|
Salesforce, Inc.
|
947,902
|
|||
|
3,237
|
Samsara, Inc., Class A (a)
|
150,650
|
|||
|
17,358
|
Zoom Communications, Inc. (a)
|
1,410,337
|
|||
|
|
|
21,198,554
|
|||
|
|
Specialized REITs — 0.9%
|
|
|||
|
26,210
|
Gaming and Leisure Properties,
Inc.
|
1,224,007
|
|||
|
44,070
|
VICI Properties, Inc.
|
1,397,460
|
|||
|
|
|
2,621,467
|
|||
|
|
Specialty Retail — 2.4%
|
|
|||
|
152
|
AutoZone, Inc. (a)
|
567,422
|
|||
|
12,595
|
Bath & Body Works, Inc.
|
354,171
|
|||
|
16,172
|
Best Buy Co., Inc.
|
1,071,880
|
|||
|
1,506
|
Carvana Co. (a)
|
492,703
|
|||
|
4,279
|
Chewy, Inc., Class A (a)
|
193,625
|
|||
|
510
|
O’Reilly Automotive, Inc. (a)
|
697,425
|
|||
|
14,833
|
TJX (The) Cos., Inc.
|
1,882,308
|
|||
|
3,061
|
Ulta Beauty, Inc. (a)
|
1,443,139
|
|||
|
12,750
|
Victoria’s Secret & Co. (a)
|
270,428
|
|||
|
1,829
|
Williams-Sonoma, Inc.
|
295,859
|
|||
|
|
|
7,268,960
|
|||
|
|
Technology Hardware, Storage
& Peripherals — 7.2%
|
|
|||
|
95,230
|
Apple, Inc.
|
19,126,946
|
|||
|
40,496
|
HP, Inc.
|
1,008,350
|
|||
|
12,743
|
NetApp, Inc.
|
1,263,596
|
|||
|
|
|
21,398,892
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Textiles, Apparel & Luxury
Goods — 1.3%
|
|
|||
|
2,702
|
Deckers Outdoor Corp. (a)
|
$285,115
|
|||
|
7,363
|
Ralph Lauren Corp.
|
2,038,152
|
|||
|
18,159
|
Tapestry, Inc.
|
1,426,390
|
|||
|
|
|
3,749,657
|
|||
|
|
Tobacco — 2.4%
|
|
|||
|
64,242
|
Altria Group, Inc.
|
3,893,708
|
|||
|
17,892
|
Philip Morris International, Inc.
|
3,231,116
|
|||
|
|
|
7,124,824
|
|||
|
|
Trading Companies &
Distributors — 0.2%
|
|
|||
|
165
|
W.W. Grainger, Inc.
|
179,447
|
|||
|
1,044
|
Watsco, Inc.
|
463,087
|
|||
|
|
|
642,534
|
|||
|
|
Wireless Telecommunication
Services — 0.4%
|
|
|||
|
4,437
|
T-Mobile US, Inc.
|
1,074,641
|
|||
|
|
Total Common Stocks
|
297,112,952
|
|||
|
|
(Cost $292,348,031)
|
|
|||
|
MONEY MARKET FUNDS — 0.1%
|
|||||
|
368,557
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
4.16% (b)
|
368,557
|
|||
|
|
(Cost $368,557)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 99.9%
|
297,481,509
|
|||
|
|
(Cost $292,716,588)
|
|
|||
|
|
Net Other Assets and
Liabilities — 0.1%
|
178,808
|
|||
|
|
Net Assets — 100.0%
|
$297,660,317
|
|||
|
(a)
|
Non-income producing security.
|
|
(b)
|
Rate shown reflects yield as of May 31, 2025.
|
|
Abbreviations throughout the Portfolio of Investments:
|
|
|
REITs
|
– Real Estate Investment Trusts
|
|
|
Total
Value at
5/31/2025
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Common Stocks*
|
$ 297,112,952
|
$ 297,112,952
|
$ —
|
$ —
|
|
Money Market
Funds
|
368,557
|
368,557
|
—
|
—
|
|
Total Investments
|
$297,481,509
|
$297,481,509
|
$—
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS — 99.8%
|
|||||
|
|
Aerospace & Defense — 1.3%
|
|
|||
|
1,267
|
Curtiss-Wright Corp.
|
$557,619
|
|||
|
4,355
|
Leonardo DRS, Inc.
|
184,217
|
|||
|
245
|
Woodward, Inc.
|
53,001
|
|||
|
|
|
794,837
|
|||
|
|
Air Freight & Logistics —
0.2%
|
|
|||
|
1,283
|
C.H. Robinson Worldwide, Inc.
|
123,130
|
|||
|
|
Automobile Components —
1.3%
|
|
|||
|
7,526
|
Adient PLC (a)
|
117,330
|
|||
|
2,158
|
Autoliv, Inc.
|
221,886
|
|||
|
9,114
|
BorgWarner, Inc.
|
301,582
|
|||
|
1,845
|
Lear Corp.
|
166,825
|
|||
|
|
|
807,623
|
|||
|
|
Automobiles — 0.2%
|
|
|||
|
5,116
|
Harley-Davidson, Inc.
|
123,858
|
|||
|
|
Banks — 3.9%
|
|
|||
|
4,156
|
Bank OZK
|
184,235
|
|||
|
3,322
|
Cathay General Bancorp
|
142,364
|
|||
|
12,950
|
Columbia Banking System, Inc.
|
302,771
|
|||
|
3,840
|
Commerce Bancshares, Inc.
|
241,958
|
|||
|
30,837
|
First Horizon Corp.
|
613,040
|
|||
|
2,328
|
Hancock Whitney Corp.
|
127,272
|
|||
|
4,428
|
Home BancShares, Inc.
|
125,268
|
|||
|
3,947
|
International Bancshares Corp.
|
247,201
|
|||
|
5,431
|
Synovus Financial Corp.
|
259,765
|
|||
|
4,313
|
Webster Financial Corp.
|
222,033
|
|||
|
|
|
2,465,907
|
|||
|
|
Beverages — 1.1%
|
|
|||
|
2,790
|
Coca-Cola Consolidated, Inc.
|
319,874
|
|||
|
3,563
|
Molson Coors Beverage Co.,
Class B
|
190,941
|
|||
|
5,032
|
Primo Brands Corp.
|
166,408
|
|||
|
|
|
677,223
|
|||
|
|
Biotechnology — 4.3%
|
|
|||
|
1,709
|
ADMA Biologics, Inc. (a)
|
33,907
|
|||
|
21,995
|
Exelixis, Inc. (a)
|
946,665
|
|||
|
8,473
|
Halozyme Therapeutics, Inc. (a)
|
475,081
|
|||
|
3,123
|
Incyte Corp. (a)
|
203,182
|
|||
|
511
|
Neurocrine Biosciences, Inc. (a)
|
62,863
|
|||
|
2,413
|
TG Therapeutics, Inc. (a)
|
84,721
|
|||
|
2,752
|
United Therapeutics Corp. (a)
|
877,475
|
|||
|
|
|
2,683,894
|
|||
|
|
Broadline Retail — 0.6%
|
|
|||
|
713
|
Dillard’s, Inc., Class A
|
282,362
|
|||
|
8,924
|
Macy’s, Inc.
|
106,107
|
|||
|
|
|
388,469
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Building Products — 2.9%
|
|
|||
|
2,641
|
A.O. Smith Corp.
|
$169,843
|
|||
|
2,089
|
Armstrong World Industries, Inc.
|
325,111
|
|||
|
1,682
|
Builders FirstSource, Inc. (a)
|
181,118
|
|||
|
402
|
Carlisle Cos., Inc.
|
152,832
|
|||
|
372
|
CSW Industrials, Inc.
|
113,754
|
|||
|
519
|
Lennox International, Inc.
|
292,950
|
|||
|
9,486
|
Masterbrand, Inc. (a)
|
96,757
|
|||
|
1,394
|
Owens Corning
|
186,726
|
|||
|
3,284
|
UFP Industries, Inc.
|
320,387
|
|||
|
|
|
1,839,478
|
|||
|
|
Capital Markets — 3.6%
|
|
|||
|
2,166
|
Affiliated Managers Group, Inc.
|
381,216
|
|||
|
1,554
|
Cohen & Steers, Inc.
|
119,410
|
|||
|
11,484
|
Federated Hermes, Inc.
|
484,625
|
|||
|
1,033
|
Hamilton Lane, Inc., Class A
|
153,917
|
|||
|
1,112
|
Houlihan Lokey, Inc.
|
194,244
|
|||
|
5,351
|
Janus Henderson Group PLC
|
194,402
|
|||
|
5,757
|
Main Street Capital Corp.
|
327,458
|
|||
|
2,847
|
SEI Investments Co.
|
242,735
|
|||
|
1,882
|
Stifel Financial Corp.
|
177,322
|
|||
|
|
|
2,275,329
|
|||
|
|
Chemicals — 1.3%
|
|
|||
|
5,889
|
Axalta Coating Systems Ltd. (a)
|
181,381
|
|||
|
1,871
|
Cabot Corp.
|
139,745
|
|||
|
158
|
NewMarket Corp.
|
101,762
|
|||
|
5,844
|
Olin Corp.
|
113,432
|
|||
|
2,556
|
RPM International, Inc.
|
290,975
|
|||
|
|
|
827,295
|
|||
|
|
Commercial Services &
Supplies — 0.5%
|
|
|||
|
7,117
|
HNI Corp.
|
331,154
|
|||
|
|
Communications Equipment
— 1.7%
|
|
|||
|
2,634
|
F5, Inc. (a)
|
751,691
|
|||
|
14,810
|
NetScout Systems, Inc. (a)
|
338,260
|
|||
|
|
|
1,089,951
|
|||
|
|
Construction & Engineering
— 2.8%
|
|
|||
|
1,073
|
Comfort Systems USA, Inc.
|
513,141
|
|||
|
1,439
|
EMCOR Group, Inc.
|
679,007
|
|||
|
476
|
Sterling Infrastructure, Inc. (a)
|
89,493
|
|||
|
1,562
|
Valmont Industries, Inc.
|
496,778
|
|||
|
|
|
1,778,419
|
|||
|
|
Construction Materials —
0.1%
|
|
|||
|
362
|
Eagle Materials, Inc.
|
73,200
|
|||
|
|
Consumer Finance — 0.0%
|
|
|||
|
1,636
|
Navient Corp.
|
21,988
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Consumer Staples Distribution
& Retail — 1.6%
|
|
|||
|
5,811
|
Sprouts Farmers Market, Inc. (a)
|
$1,004,489
|
|||
|
|
Containers & Packaging —
0.6%
|
|
|||
|
1,024
|
Crown Holdings, Inc.
|
100,864
|
|||
|
2,117
|
Greif, Inc., Class A
|
117,705
|
|||
|
3,843
|
Sonoco Products Co.
|
175,010
|
|||
|
|
|
393,579
|
|||
|
|
Distributors — 0.1%
|
|
|||
|
876
|
LKQ Corp.
|
35,452
|
|||
|
|
Diversified Consumer Services
— 1.8%
|
|
|||
|
201
|
Graham Holdings Co., Class B
|
191,836
|
|||
|
1,641
|
Grand Canyon Education,
Inc. (a)
|
324,664
|
|||
|
8,392
|
H&R Block, Inc.
|
477,924
|
|||
|
876
|
Stride, Inc. (a)
|
132,618
|
|||
|
|
|
1,127,042
|
|||
|
|
Diversified REITs — 0.9%
|
|
|||
|
9,363
|
WP Carey, Inc.
|
587,622
|
|||
|
|
Electric Utilities — 0.9%
|
|
|||
|
3,693
|
NRG Energy, Inc.
|
575,739
|
|||
|
|
Electrical Equipment — 1.5%
|
|
|||
|
1,721
|
Acuity, Inc.
|
447,271
|
|||
|
1,400
|
Atkore, Inc.
|
91,140
|
|||
|
3,835
|
EnerSys
|
320,721
|
|||
|
1,867
|
Sensata Technologies
Holding PLC
|
48,654
|
|||
|
|
|
907,786
|
|||
|
|
Electronic Equipment,
Instruments & Components
— 3.6%
|
|
|||
|
1,567
|
Arrow Electronics, Inc. (a)
|
185,501
|
|||
|
4,045
|
Avnet, Inc.
|
202,290
|
|||
|
314
|
Badger Meter, Inc.
|
77,941
|
|||
|
523
|
Crane NXT Co.
|
28,038
|
|||
|
8,749
|
Flex Ltd. (a)
|
370,083
|
|||
|
486
|
Insight Enterprises, Inc. (a)
|
63,370
|
|||
|
678
|
Itron, Inc. (a)
|
78,377
|
|||
|
2,482
|
Jabil, Inc.
|
417,001
|
|||
|
3,998
|
Sanmina Corp. (a)
|
338,591
|
|||
|
3,755
|
TD SYNNEX Corp.
|
455,632
|
|||
|
1,766
|
Vontier Corp.
|
63,134
|
|||
|
|
|
2,279,958
|
|||
|
|
Entertainment — 1.3%
|
|
|||
|
4,483
|
Liberty Media Corp.-Liberty
Live, Class C (a)
|
327,035
|
|||
|
2,921
|
TKO Group Holdings, Inc.
|
460,963
|
|||
|
|
|
787,998
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Financial Services — 4.3%
|
|
|||
|
15,726
|
Enact Holdings, Inc.
|
$556,700
|
|||
|
4,853
|
Equitable Holdings, Inc.
|
256,578
|
|||
|
5,031
|
Essent Group Ltd.
|
291,798
|
|||
|
2,030
|
Jackson Financial, Inc., Class A
|
166,277
|
|||
|
27,032
|
MGIC Investment Corp.
|
714,997
|
|||
|
13,920
|
Radian Group, Inc.
|
475,368
|
|||
|
2,607
|
Voya Financial, Inc.
|
173,418
|
|||
|
5,593
|
Western Union (The) Co.
|
51,903
|
|||
|
|
|
2,687,039
|
|||
|
|
Food Products — 2.2%
|
|
|||
|
1,828
|
Cal-Maine Foods, Inc.
|
175,360
|
|||
|
1,247
|
Conagra Brands, Inc.
|
28,544
|
|||
|
4,552
|
Ingredion, Inc.
|
633,274
|
|||
|
10,571
|
Pilgrim’s Pride Corp.
|
519,670
|
|||
|
|
|
1,356,848
|
|||
|
|
Gas Utilities — 2.4%
|
|
|||
|
9,187
|
National Fuel Gas Co.
|
758,295
|
|||
|
20,915
|
UGI Corp.
|
754,195
|
|||
|
|
|
1,512,490
|
|||
|
|
Health Care Equipment &
Supplies — 1.2%
|
|
|||
|
9,355
|
Envista Holdings Corp. (a)
|
170,916
|
|||
|
1,240
|
Globus Medical, Inc.,
Class A (a)
|
73,383
|
|||
|
1,517
|
Lantheus Holdings, Inc. (a)
|
114,625
|
|||
|
3,645
|
LivaNova PLC (a)
|
157,646
|
|||
|
1,196
|
Masimo Corp. (a)
|
194,350
|
|||
|
316
|
Merit Medical Systems, Inc. (a)
|
30,029
|
|||
|
|
|
740,949
|
|||
|
|
Health Care Providers &
Services — 3.9%
|
|
|||
|
524
|
AMN Healthcare Services,
Inc. (a)
|
11,062
|
|||
|
327
|
Cardinal Health, Inc.
|
50,502
|
|||
|
762
|
Chemed Corp.
|
438,028
|
|||
|
1,994
|
CorVel Corp. (a)
|
221,872
|
|||
|
197
|
DaVita, Inc. (a)
|
26,843
|
|||
|
2,034
|
Encompass Health Corp.
|
245,911
|
|||
|
1,005
|
Henry Schein, Inc. (a)
|
70,340
|
|||
|
1,847
|
Hims & Hers Health, Inc. (a)
|
104,466
|
|||
|
997
|
Molina Healthcare, Inc. (a)
|
304,125
|
|||
|
4,910
|
Option Care Health, Inc. (a)
|
160,459
|
|||
|
15,209
|
Premier, Inc., Class A
|
349,503
|
|||
|
927
|
Tenet Healthcare Corp. (a)
|
156,450
|
|||
|
1,596
|
Universal Health Services, Inc.,
Class B
|
303,798
|
|||
|
|
|
2,443,359
|
|||
|
|
Health Care REITs — 1.3%
|
|
|||
|
5,511
|
American Healthcare REIT, Inc.
|
192,554
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Health Care REITs
(Continued)
|
|
|||
|
9,240
|
Omega Healthcare Investors, Inc.
|
$341,880
|
|||
|
14,031
|
Sabra Health Care REIT, Inc.
|
245,262
|
|||
|
|
|
779,696
|
|||
|
|
Health Care Technology —
0.1%
|
|
|||
|
1,491
|
Doximity, Inc., Class A (a)
|
77,666
|
|||
|
|
Hotel & Resort REITs — 0.8%
|
|
|||
|
10,679
|
Apple Hospitality REIT, Inc.
|
123,769
|
|||
|
17,669
|
Host Hotels & Resorts, Inc.
|
273,693
|
|||
|
10,691
|
Park Hotels & Resorts, Inc.
|
110,759
|
|||
|
|
|
508,221
|
|||
|
|
Hotels, Restaurants & Leisure
— 1.0%
|
|
|||
|
3,232
|
Boyd Gaming Corp.
|
242,303
|
|||
|
2,076
|
Brinker International, Inc. (a)
|
358,380
|
|||
|
|
|
600,683
|
|||
|
|
Household Durables — 2.5%
|
|
|||
|
5,850
|
KB Home
|
301,743
|
|||
|
3,131
|
PulteGroup, Inc.
|
306,932
|
|||
|
8,152
|
Taylor Morrison Home Corp. (a)
|
458,794
|
|||
|
4,327
|
Toll Brothers, Inc.
|
451,090
|
|||
|
813
|
Tri Pointe Homes, Inc. (a)
|
23,967
|
|||
|
|
|
1,542,526
|
|||
|
|
Independent Power and
Renewable Electricity
Producers — 0.5%
|
|
|||
|
1,878
|
Vistra Corp.
|
301,550
|
|||
|
|
Industrial REITs — 0.2%
|
|
|||
|
3,995
|
STAG Industrial, Inc.
|
142,142
|
|||
|
|
Insurance — 4.7%
|
|
|||
|
369
|
Assurant, Inc.
|
74,900
|
|||
|
3,435
|
CNA Financial Corp.
|
164,571
|
|||
|
4,613
|
CNO Financial Group, Inc.
|
175,109
|
|||
|
1,069
|
Globe Life, Inc.
|
130,279
|
|||
|
1,165
|
Hanover Insurance Group (The),
Inc.
|
205,017
|
|||
|
21,475
|
Old Republic International Corp.
|
811,755
|
|||
|
1,042
|
Primerica, Inc.
|
281,965
|
|||
|
13,072
|
Unum Group
|
1,068,113
|
|||
|
|
|
2,911,709
|
|||
|
|
Interactive Media & Services
— 0.6%
|
|
|||
|
5,237
|
Match Group, Inc.
|
156,796
|
|||
|
5,912
|
Ziff Davis, Inc. (a)
|
191,785
|
|||
|
|
|
348,581
|
|||
|
|
IT Services — 1.1%
|
|
|||
|
682
|
ASGN, Inc. (a)
|
36,017
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
IT Services (Continued)
|
|
|||
|
5,887
|
DXC Technology Co. (a)
|
$89,482
|
|||
|
3,240
|
GoDaddy, Inc., Class A (a)
|
590,166
|
|||
|
|
|
715,665
|
|||
|
|
Leisure Products — 0.3%
|
|
|||
|
8,724
|
Mattel, Inc. (a)
|
165,233
|
|||
|
|
Life Sciences Tools & Services
— 0.3%
|
|
|||
|
683
|
Medpace Holdings, Inc. (a)
|
201,417
|
|||
|
|
Machinery — 5.3%
|
|
|||
|
674
|
AGCO Corp.
|
66,039
|
|||
|
6,308
|
Allison Transmission Holdings,
Inc.
|
653,004
|
|||
|
685
|
Donaldson Co., Inc.
|
47,642
|
|||
|
958
|
Esab Corp.
|
117,825
|
|||
|
1,686
|
Federal Signal Corp.
|
158,602
|
|||
|
12,027
|
Kennametal, Inc.
|
258,941
|
|||
|
1,487
|
Middleby (The) Corp. (a)
|
217,295
|
|||
|
7,913
|
Mueller Industries, Inc.
|
616,185
|
|||
|
5,881
|
Mueller Water Products, Inc.,
Class A
|
144,261
|
|||
|
644
|
RBC Bearings, Inc. (a)
|
235,620
|
|||
|
1,228
|
Snap-on, Inc.
|
393,881
|
|||
|
5,236
|
Terex Corp.
|
235,672
|
|||
|
1,994
|
Timken (The) Co.
|
136,569
|
|||
|
159
|
Watts Water Technologies, Inc.,
Class A
|
38,497
|
|||
|
|
|
3,320,033
|
|||
|
|
Marine Transportation —
0.2%
|
|
|||
|
1,121
|
Matson, Inc.
|
126,505
|
|||
|
|
Media — 1.4%
|
|
|||
|
4,923
|
New York Times (The) Co.,
Class A
|
281,202
|
|||
|
1,605
|
Nexstar Media Group, Inc.
|
273,524
|
|||
|
20,510
|
TEGNA, Inc.
|
342,927
|
|||
|
|
|
897,653
|
|||
|
|
Metals & Mining — 1.5%
|
|
|||
|
1,126
|
Alpha Metallurgical Resources,
Inc. (a)
|
126,157
|
|||
|
2,169
|
Carpenter Technology Corp.
|
509,715
|
|||
|
3,357
|
Commercial Metals Co.
|
156,403
|
|||
|
327
|
Reliance, Inc.
|
95,752
|
|||
|
328
|
Royal Gold, Inc.
|
58,423
|
|||
|
|
|
946,450
|
|||
|
|
Office REITs — 0.9%
|
|
|||
|
5,404
|
COPT Defense Properties
|
148,340
|
|||
|
3,964
|
Cousins Properties, Inc.
|
111,269
|
|||
|
9,630
|
Highwoods Properties, Inc.
|
286,011
|
|||
|
14,413
|
Hudson Pacific Properties, Inc.
|
26,808
|
|||
|
|
|
572,428
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Oil, Gas & Consumable Fuels
— 2.9%
|
|
|||
|
11,233
|
Antero Midstream Corp.
|
$210,956
|
|||
|
2,479
|
APA Corp.
|
42,168
|
|||
|
1,440
|
Chord Energy Corp.
|
129,600
|
|||
|
3,394
|
Civitas Resources, Inc.
|
92,894
|
|||
|
4,842
|
CNX Resources Corp. (a)
|
156,300
|
|||
|
2,242
|
DT Midstream, Inc.
|
234,827
|
|||
|
3,559
|
HF Sinclair Corp.
|
128,586
|
|||
|
5,550
|
Murphy Oil Corp.
|
116,161
|
|||
|
14,314
|
Peabody Energy Corp.
|
188,372
|
|||
|
3,407
|
SM Energy Co.
|
79,792
|
|||
|
392
|
Texas Pacific Land Corp.
|
436,700
|
|||
|
|
|
1,816,356
|
|||
|
|
Paper & Forest Products —
0.4%
|
|
|||
|
1,117
|
Louisiana-Pacific Corp.
|
100,608
|
|||
|
9,638
|
Magnera Corp. (a)
|
115,849
|
|||
|
|
|
216,457
|
|||
|
|
Personal Care Products —
0.7%
|
|
|||
|
5,171
|
BellRing Brands, Inc. (a)
|
325,515
|
|||
|
13,480
|
Nu Skin Enterprises, Inc.,
Class A
|
116,332
|
|||
|
|
|
441,847
|
|||
|
|
Pharmaceuticals — 1.8%
|
|
|||
|
2,806
|
Corcept Therapeutics, Inc. (a)
|
217,633
|
|||
|
4,724
|
Jazz Pharmaceuticals PLC (a)
|
510,523
|
|||
|
3,675
|
Organon & Co.
|
33,884
|
|||
|
4,312
|
Prestige Consumer Healthcare,
Inc. (a)
|
369,409
|
|||
|
|
|
1,131,449
|
|||
|
|
Professional Services — 2.7%
|
|
|||
|
318
|
CACI International, Inc.,
Class A (a)
|
136,104
|
|||
|
8,523
|
ExlService Holdings, Inc. (a)
|
391,973
|
|||
|
15,083
|
Genpact Ltd.
|
649,323
|
|||
|
2,842
|
ManpowerGroup, Inc.
|
119,222
|
|||
|
473
|
Maximus, Inc.
|
34,297
|
|||
|
3,204
|
Science Applications
International Corp.
|
370,190
|
|||
|
|
|
1,701,109
|
|||
|
|
Real Estate Management &
Development — 0.0%
|
|
|||
|
84
|
Jones Lang LaSalle, Inc. (a)
|
18,707
|
|||
|
|
Residential REITs — 0.4%
|
|
|||
|
526
|
Camden Property Trust
|
61,800
|
|||
|
8,947
|
Independence Realty Trust, Inc.
|
166,324
|
|||
|
|
|
228,124
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Retail REITs — 0.8%
|
|
|||
|
8,449
|
Brixmor Property Group, Inc.
|
$214,689
|
|||
|
4,994
|
NNN REIT, Inc.
|
208,549
|
|||
|
1,412
|
Regency Centers Corp.
|
101,876
|
|||
|
|
|
525,114
|
|||
|
|
Semiconductors &
Semiconductor Equipment
— 1.0%
|
|
|||
|
445
|
Axcelis Technologies, Inc. (a)
|
25,071
|
|||
|
3,406
|
Cirrus Logic, Inc. (a)
|
335,014
|
|||
|
1,395
|
MACOM Technology Solutions
Holdings, Inc. (a)
|
169,646
|
|||
|
485
|
Qorvo, Inc. (a)
|
36,870
|
|||
|
845
|
Semtech Corp. (a)
|
31,544
|
|||
|
483
|
Skyworks Solutions, Inc.
|
33,341
|
|||
|
|
|
631,486
|
|||
|
|
Software — 5.2%
|
|
|||
|
5,677
|
ACI Worldwide, Inc. (a)
|
262,618
|
|||
|
320
|
Appfolio, Inc., Class A (a)
|
67,574
|
|||
|
6,560
|
Box, Inc., Class A (a)
|
248,099
|
|||
|
2,083
|
Commvault Systems, Inc. (a)
|
381,502
|
|||
|
2,190
|
Docusign, Inc. (a)
|
194,056
|
|||
|
2,474
|
Dolby Laboratories, Inc.,
Class A
|
183,719
|
|||
|
16,557
|
Dropbox, Inc., Class A (a)
|
477,835
|
|||
|
169
|
Fair Isaac Corp. (a)
|
291,741
|
|||
|
2,475
|
Gen Digital, Inc.
|
70,488
|
|||
|
2,529
|
Intapp, Inc. (a)
|
139,399
|
|||
|
3,190
|
InterDigital, Inc.
|
693,059
|
|||
|
310
|
Manhattan Associates, Inc. (a)
|
58,522
|
|||
|
886
|
Q2 Holdings, Inc. (a)
|
77,543
|
|||
|
5,325
|
Teradata Corp. (a)
|
116,937
|
|||
|
|
|
3,263,092
|
|||
|
|
Specialized REITs — 1.6%
|
|
|||
|
8,323
|
EPR Properties
|
463,508
|
|||
|
9,747
|
Gaming and Leisure Properties,
Inc.
|
455,185
|
|||
|
440
|
Lamar Advertising Co., Class A
|
53,037
|
|||
|
|
|
971,730
|
|||
|
|
Specialty Retail — 2.3%
|
|
|||
|
1,602
|
Abercrombie & Fitch Co.,
Class A (a)
|
125,741
|
|||
|
3,005
|
Academy Sports & Outdoors,
Inc.
|
122,934
|
|||
|
8,356
|
American Eagle Outfitters, Inc.
|
91,582
|
|||
|
2,997
|
Bath & Body Works, Inc.
|
84,276
|
|||
|
13,153
|
Gap (The), Inc.
|
293,443
|
|||
|
239
|
Murphy USA, Inc.
|
102,003
|
|||
|
2,372
|
Urban Outfitters, Inc. (a)
|
165,803
|
|||
|
2,760
|
Williams-Sonoma, Inc.
|
446,458
|
|||
|
|
|
1,432,240
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Technology Hardware, Storage
& Peripherals — 0.5%
|
|
|||
|
2,831
|
NetApp, Inc.
|
$280,722
|
|||
|
|
Textiles, Apparel & Luxury
Goods — 2.7%
|
|
|||
|
1,077
|
Carter’s, Inc.
|
33,785
|
|||
|
2,120
|
Columbia Sportswear Co.
|
135,214
|
|||
|
326
|
Crocs, Inc. (a)
|
33,252
|
|||
|
1,514
|
Deckers Outdoor Corp. (a)
|
159,757
|
|||
|
3,269
|
PVH Corp.
|
273,844
|
|||
|
1,402
|
Ralph Lauren Corp.
|
388,088
|
|||
|
8,312
|
Tapestry, Inc.
|
652,908
|
|||
|
|
|
1,676,848
|
|||
|
|
Trading Companies &
Distributors — 2.0%
|
|
|||
|
1,032
|
Applied Industrial Technologies,
Inc.
|
233,769
|
|||
|
2,318
|
Boise Cascade Co.
|
201,388
|
|||
|
2,849
|
Core & Main, Inc., Class A (a)
|
156,154
|
|||
|
4,243
|
MSC Industrial Direct Co., Inc.,
Class A
|
344,531
|
|||
|
409
|
Watsco, Inc.
|
181,420
|
|||
|
885
|
WESCO International, Inc.
|
148,583
|
|||
|
|
|
1,265,845
|
|||
|
|
Total Common Stocks
|
62,501,389
|
|||
|
|
(Cost $61,991,861)
|
|
|||
|
MONEY MARKET FUNDS — 0.2%
|
|||||
|
95,730
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
4.16% (b)
|
95,730
|
|||
|
|
(Cost $95,730)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 100.0%
|
62,597,119
|
|||
|
|
(Cost $62,087,591)
|
|
|||
|
|
Net Other Assets and
Liabilities — 0.0%
|
19,555
|
|||
|
|
Net Assets — 100.0%
|
$62,616,674
|
|||
|
(a)
|
Non-income producing security.
|
|
(b)
|
Rate shown reflects yield as of May 31, 2025.
|
|
Abbreviations throughout the Portfolio of Investments:
|
|
|
REITs
|
– Real Estate Investment Trusts
|
|
|
Total
Value at
5/31/2025
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Common Stocks*
|
$ 62,501,389
|
$ 62,501,389
|
$ —
|
$ —
|
|
Money Market Funds
|
95,730
|
95,730
|
—
|
—
|
|
Total Investments
|
$62,597,119
|
$62,597,119
|
$—
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS — 99.8%
|
|||||
|
|
Aerospace & Defense — 0.3%
|
|
|||
|
557
|
Moog, Inc., Class A
|
$103,218
|
|||
|
|
Automobile Components —
1.7%
|
|
|||
|
7,917
|
Adient PLC (a)
|
123,426
|
|||
|
1,549
|
Dorman Products, Inc. (a)
|
200,301
|
|||
|
3,842
|
Phinia, Inc.
|
166,743
|
|||
|
2,624
|
Standard Motor Products, Inc.
|
79,507
|
|||
|
|
|
569,977
|
|||
|
|
Automobiles — 0.0%
|
|
|||
|
437
|
Winnebago Industries, Inc.
|
14,827
|
|||
|
|
Banks — 9.3%
|
|
|||
|
6,624
|
Ames National Corp.
|
115,258
|
|||
|
6,175
|
Bancorp (The), Inc. (a)
|
315,542
|
|||
|
5,500
|
Bank of NT Butterfield & Son
Ltd. (The)
|
231,880
|
|||
|
1,101
|
Cathay General Bancorp
|
47,183
|
|||
|
1,194
|
Central Pacific Financial Corp.
|
31,880
|
|||
|
1,535
|
City Holding Co.
|
180,961
|
|||
|
4,108
|
Eagle Bancorp, Inc.
|
72,301
|
|||
|
3,756
|
First BanCorp
|
75,045
|
|||
|
3,893
|
First Financial Corp.
|
201,813
|
|||
|
678
|
First Hawaiian, Inc.
|
16,191
|
|||
|
2,892
|
First Interstate BancSystem, Inc.,
Class A
|
78,518
|
|||
|
943
|
Hancock Whitney Corp.
|
51,554
|
|||
|
717
|
Heritage Financial Corp.
|
16,763
|
|||
|
3,703
|
Home BancShares, Inc.
|
104,758
|
|||
|
1,392
|
Independent Bank Corp.
|
85,608
|
|||
|
1,538
|
International Bancshares Corp.
|
96,325
|
|||
|
6,671
|
Northeast Community Bancorp,
Inc.
|
150,898
|
|||
|
4,635
|
OceanFirst Financial Corp.
|
77,914
|
|||
|
2,215
|
OFG Bancorp
|
91,125
|
|||
|
570
|
Park National Corp.
|
92,659
|
|||
|
1,865
|
Pathward Financial, Inc.
|
145,563
|
|||
|
3,830
|
Peoples Bancorp of North
Carolina, Inc.
|
105,440
|
|||
|
2,691
|
Peoples Bancorp, Inc.
|
78,900
|
|||
|
3,273
|
Preferred Bank
|
273,656
|
|||
|
5,537
|
Provident Financial Services,
Inc.
|
92,468
|
|||
|
4,474
|
S&T Bancorp, Inc.
|
164,017
|
|||
|
3,200
|
Trustmark Corp.
|
110,272
|
|||
|
|
|
3,104,492
|
|||
|
|
Beverages — 0.8%
|
|
|||
|
1,400
|
Coca-Cola Consolidated, Inc.
|
160,510
|
|||
|
3,195
|
Primo Brands Corp.
|
105,659
|
|||
|
|
|
266,169
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Biotechnology — 6.1%
|
|
|||
|
4,626
|
ACADIA Pharmaceuticals,
Inc. (a)
|
$99,783
|
|||
|
13,531
|
ADMA Biologics, Inc. (a)
|
268,455
|
|||
|
9,019
|
Alkermes PLC (a)
|
276,072
|
|||
|
1,381
|
Blueprint Medicines Corp. (a)
|
139,964
|
|||
|
15,637
|
Catalyst Pharmaceuticals,
Inc. (a)
|
390,299
|
|||
|
4,789
|
Halozyme Therapeutics, Inc. (a)
|
268,519
|
|||
|
4,901
|
Kiniksa Pharmaceuticals
International PLC (a)
|
134,091
|
|||
|
632
|
Krystal Biotech, Inc. (a)
|
79,607
|
|||
|
716
|
Mirum Pharmaceuticals, Inc. (a)
|
31,833
|
|||
|
1,501
|
PTC Therapeutics, Inc. (a)
|
72,829
|
|||
|
5,945
|
TG Therapeutics, Inc. (a)
|
208,729
|
|||
|
2,310
|
Veracyte, Inc. (a)
|
61,469
|
|||
|
|
|
2,031,650
|
|||
|
|
Broadline Retail — 0.7%
|
|
|||
|
195
|
Dillard’s, Inc., Class A
|
77,224
|
|||
|
5,435
|
Kohl’s Corp.
|
44,187
|
|||
|
9,717
|
Macy’s, Inc.
|
115,535
|
|||
|
|
|
236,946
|
|||
|
|
Building Products — 1.3%
|
|
|||
|
917
|
American Woodmark Corp. (a)
|
51,691
|
|||
|
425
|
CSW Industrials, Inc.
|
129,961
|
|||
|
540
|
Griffon Corp.
|
37,125
|
|||
|
2,384
|
Janus International Group,
Inc. (a)
|
19,477
|
|||
|
5,514
|
Masterbrand, Inc. (a)
|
56,243
|
|||
|
2,551
|
Quanex Building Products Corp.
|
42,678
|
|||
|
4,297
|
Resideo Technologies, Inc. (a)
|
88,948
|
|||
|
|
|
426,123
|
|||
|
|
Capital Markets — 3.1%
|
|
|||
|
642
|
Acadian Asset Management, Inc.
|
19,331
|
|||
|
438
|
Artisan Partners Asset
Management, Inc., Class A
|
17,651
|
|||
|
1,083
|
Cohen & Steers, Inc.
|
83,218
|
|||
|
2,599
|
Federated Hermes, Inc.
|
109,678
|
|||
|
532
|
Hamilton Lane, Inc., Class A
|
79,268
|
|||
|
301
|
Main Street Capital Corp.
|
17,121
|
|||
|
7,664
|
Patria Investments Ltd., Class A
|
97,639
|
|||
|
284
|
Piper Sandler Cos.
|
71,412
|
|||
|
666
|
PJT Partners, Inc., Class A
|
100,340
|
|||
|
1,280
|
StoneX Group, Inc. (a)
|
108,358
|
|||
|
1,173
|
Victory Capital Holdings, Inc.,
Class A
|
72,738
|
|||
|
2,975
|
Virtu Financial, Inc., Class A
|
119,565
|
|||
|
385
|
Virtus Investment Partners, Inc.
|
65,719
|
|||
|
8,688
|
WisdomTree, Inc.
|
82,015
|
|||
|
|
|
1,044,053
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Chemicals — 1.0%
|
|
|||
|
1,878
|
Hawkins, Inc.
|
$250,694
|
|||
|
8,280
|
Perimeter Solutions, Inc. (a)
|
99,940
|
|||
|
|
|
350,634
|
|||
|
|
Commercial Services &
Supplies — 1.9%
|
|
|||
|
794
|
Brady Corp., Class A
|
55,398
|
|||
|
1,385
|
Cimpress PLC (a)
|
61,300
|
|||
|
771
|
Deluxe Corp.
|
11,002
|
|||
|
4,203
|
Ennis, Inc.
|
78,470
|
|||
|
3,818
|
Healthcare Services Group,
Inc. (a)
|
53,834
|
|||
|
1,883
|
HNI Corp.
|
87,616
|
|||
|
3,987
|
Interface, Inc.
|
80,099
|
|||
|
2,871
|
Liquidity Services, Inc. (a)
|
67,095
|
|||
|
4,359
|
MillerKnoll, Inc.
|
73,536
|
|||
|
7,515
|
Steelcase, Inc., Class A
|
77,480
|
|||
|
|
|
645,830
|
|||
|
|
Communications Equipment
— 0.8%
|
|
|||
|
2,879
|
Digi International, Inc. (a)
|
93,308
|
|||
|
7,376
|
Harmonic, Inc. (a)
|
66,532
|
|||
|
3,500
|
NETGEAR, Inc. (a)
|
102,655
|
|||
|
161
|
NetScout Systems, Inc. (a)
|
3,677
|
|||
|
|
|
266,172
|
|||
|
|
Construction & Engineering
— 2.5%
|
|
|||
|
421
|
Argan, Inc.
|
88,537
|
|||
|
448
|
Comfort Systems USA, Inc.
|
214,247
|
|||
|
414
|
EMCOR Group, Inc.
|
195,350
|
|||
|
517
|
IES Holdings, Inc. (a)
|
134,244
|
|||
|
609
|
Sterling Infrastructure, Inc. (a)
|
114,498
|
|||
|
2,324
|
Tutor Perini Corp. (a)
|
85,709
|
|||
|
|
|
832,585
|
|||
|
|
Construction Materials —
0.6%
|
|
|||
|
1,857
|
United States Lime & Minerals,
Inc.
|
190,862
|
|||
|
|
Consumer Finance — 1.1%
|
|
|||
|
1,109
|
Dave, Inc. (a)
|
222,709
|
|||
|
34
|
EZCORP, Inc., Class A (a)
|
457
|
|||
|
500
|
FirstCash Holdings, Inc.
|
63,955
|
|||
|
3,138
|
PROG Holdings, Inc.
|
90,469
|
|||
|
|
|
377,590
|
|||
|
|
Consumer Staples Distribution
& Retail — 1.8%
|
|
|||
|
2,046
|
Andersons (The), Inc.
|
72,653
|
|||
|
2,460
|
Ingles Markets, Inc., Class A
|
153,258
|
|||
|
204
|
Natural Grocers by Vitamin
Cottage, Inc.
|
9,961
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Consumer Staples Distribution
& Retail (Continued)
|
|
|||
|
2,032
|
Sprouts Farmers Market, Inc. (a)
|
$351,252
|
|||
|
255
|
Weis Markets, Inc.
|
19,329
|
|||
|
|
|
606,453
|
|||
|
|
Diversified Consumer Services
— 3.4%
|
|
|||
|
1,001
|
Adtalem Global Education,
Inc. (a)
|
132,162
|
|||
|
339
|
Frontdoor, Inc. (a)
|
18,648
|
|||
|
19
|
Graham Holdings Co., Class B
|
18,134
|
|||
|
684
|
Grand Canyon Education,
Inc. (a)
|
135,326
|
|||
|
4,378
|
H&R Block, Inc.
|
249,327
|
|||
|
886
|
Laureate Education, Inc. (a)
|
19,935
|
|||
|
6,246
|
Perdoceo Education Corp.
|
212,614
|
|||
|
1,053
|
Stride, Inc. (a)
|
159,414
|
|||
|
5,698
|
Universal Technical Institute,
Inc. (a)
|
202,450
|
|||
|
|
|
1,148,010
|
|||
|
|
Diversified REITs — 0.3%
|
|
|||
|
5,903
|
Broadstone Net Lease, Inc.
|
93,917
|
|||
|
|
Electric Utilities — 1.0%
|
|
|||
|
1,471
|
Hawaiian Electric Industries,
Inc. (a)
|
15,710
|
|||
|
1,102
|
MGE Energy, Inc.
|
99,533
|
|||
|
1,270
|
Otter Tail Corp.
|
98,018
|
|||
|
1,933
|
TXNM Energy, Inc.
|
109,582
|
|||
|
|
|
322,843
|
|||
|
|
Electrical Equipment — 0.9%
|
|
|||
|
167
|
Acuity, Inc.
|
43,402
|
|||
|
1,756
|
Atkore, Inc.
|
114,315
|
|||
|
759
|
EnerSys
|
63,475
|
|||
|
2,099
|
NuScale Power Corp. (a)
|
67,147
|
|||
|
|
|
288,339
|
|||
|
|
Electronic Equipment,
Instruments & Components
— 4.2%
|
|
|||
|
1,069
|
Badger Meter, Inc.
|
265,347
|
|||
|
2,165
|
Bel Fuse, Inc., Class B
|
159,777
|
|||
|
2,177
|
Benchmark Electronics, Inc.
|
79,504
|
|||
|
17,631
|
Daktronics, Inc. (a)
|
261,644
|
|||
|
1,348
|
ePlus, Inc. (a)
|
96,207
|
|||
|
4,457
|
Knowles Corp. (a)
|
73,140
|
|||
|
2,078
|
PC Connection, Inc.
|
135,901
|
|||
|
2,739
|
Sanmina Corp. (a)
|
231,966
|
|||
|
2,885
|
ScanSource, Inc. (a)
|
116,496
|
|||
|
|
|
1,419,982
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Energy Equipment & Services
— 1.0%
|
|
|||
|
10,588
|
Archrock, Inc.
|
$263,641
|
|||
|
7,179
|
Select Water Solutions, Inc.
|
57,719
|
|||
|
|
|
321,360
|
|||
|
|
Entertainment — 0.6%
|
|
|||
|
3,214
|
Cinemark Holdings, Inc.
|
108,537
|
|||
|
4,562
|
Marcus (The) Corp.
|
84,306
|
|||
|
|
|
192,843
|
|||
|
|
Financial Services — 3.0%
|
|
|||
|
5,914
|
Enact Holdings, Inc.
|
209,355
|
|||
|
2,123
|
Essent Group Ltd.
|
123,134
|
|||
|
845
|
International Money Express,
Inc. (a)
|
9,320
|
|||
|
1,271
|
Jackson Financial, Inc., Class A
|
104,108
|
|||
|
8,858
|
MGIC Investment Corp.
|
234,294
|
|||
|
3,155
|
NMI Holdings, Inc. (a)
|
125,317
|
|||
|
5,044
|
Radian Group, Inc.
|
172,253
|
|||
|
1,699
|
Western Union (The) Co.
|
15,767
|
|||
|
|
|
993,548
|
|||
|
|
Food Products — 1.3%
|
|
|||
|
2,275
|
Cal-Maine Foods, Inc.
|
218,241
|
|||
|
6,700
|
Dole PLC
|
94,872
|
|||
|
3,536
|
Fresh Del Monte Produce, Inc.
|
124,891
|
|||
|
|
|
438,004
|
|||
|
|
Gas Utilities — 0.1%
|
|
|||
|
996
|
MDU Resources Group, Inc.
|
17,121
|
|||
|
259
|
Southwest Gas Holdings, Inc.
|
18,604
|
|||
|
|
|
35,725
|
|||
|
|
Health Care Equipment &
Supplies — 2.2%
|
|
|||
|
5,182
|
Avanos Medical, Inc. (a)
|
65,138
|
|||
|
2,303
|
Axogen, Inc. (a)
|
25,080
|
|||
|
3,125
|
Envista Holdings Corp. (a)
|
57,094
|
|||
|
170
|
Glaukos Corp. (a)
|
16,029
|
|||
|
1,501
|
Globus Medical, Inc.,
Class A (a)
|
88,829
|
|||
|
5,664
|
Inmode Ltd. (a)
|
83,034
|
|||
|
1,958
|
Lantheus Holdings, Inc. (a)
|
147,946
|
|||
|
878
|
LeMaitre Vascular, Inc.
|
72,172
|
|||
|
356
|
LivaNova PLC (a)
|
15,397
|
|||
|
7,094
|
Tactile Systems Technology,
Inc. (a)
|
70,089
|
|||
|
457
|
UFP Technologies, Inc. (a)
|
107,029
|
|||
|
|
|
747,837
|
|||
|
|
Health Care Providers &
Services — 3.5%
|
|
|||
|
952
|
Addus HomeCare Corp. (a)
|
105,586
|
|||
|
3,021
|
AMN Healthcare Services,
Inc. (a)
|
63,773
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Health Care Providers &
Services (Continued)
|
|
|||
|
414
|
Astrana Health, Inc. (a)
|
$10,263
|
|||
|
1,960
|
CorVel Corp. (a)
|
218,089
|
|||
|
1,576
|
GeneDx Holdings Corp. (a)
|
112,243
|
|||
|
2,347
|
Hims & Hers Health, Inc. (a)
|
132,746
|
|||
|
1,849
|
National HealthCare Corp.
|
192,555
|
|||
|
770
|
Option Care Health, Inc. (a)
|
25,164
|
|||
|
6,085
|
Owens & Minor, Inc. (a)
|
40,161
|
|||
|
7,026
|
Premier, Inc., Class A
|
161,457
|
|||
|
5,765
|
Progyny, Inc. (a)
|
123,948
|
|||
|
|
|
1,185,985
|
|||
|
|
Health Care REITs — 1.3%
|
|
|||
|
3,429
|
American Healthcare REIT, Inc.
|
119,809
|
|||
|
2,709
|
National Health Investors, Inc.
|
196,430
|
|||
|
6,811
|
Sabra Health Care REIT, Inc.
|
119,056
|
|||
|
|
|
435,295
|
|||
|
|
Health Care Technology —
0.8%
|
|
|||
|
8,380
|
Certara, Inc. (a)
|
95,197
|
|||
|
2,616
|
HealthStream, Inc.
|
73,301
|
|||
|
719
|
Phreesia, Inc. (a)
|
17,608
|
|||
|
2,979
|
Simulations Plus, Inc.
|
94,866
|
|||
|
|
|
280,972
|
|||
|
|
Hotel & Resort REITs — 0.4%
|
|
|||
|
7,062
|
Apple Hospitality REIT, Inc.
|
81,848
|
|||
|
5,055
|
Park Hotels & Resorts, Inc.
|
52,370
|
|||
|
|
|
134,218
|
|||
|
|
Hotels, Restaurants & Leisure
— 0.9%
|
|
|||
|
1,651
|
Brinker International, Inc. (a)
|
285,012
|
|||
|
|
Household Durables — 1.4%
|
|
|||
|
192
|
Cavco Industries, Inc. (a)
|
83,250
|
|||
|
3,007
|
Ethan Allen Interiors, Inc.
|
78,573
|
|||
|
1,313
|
Helen of Troy Ltd. (a)
|
35,307
|
|||
|
229
|
KB Home
|
11,812
|
|||
|
922
|
M/I Homes, Inc. (a)
|
98,294
|
|||
|
1,724
|
Taylor Morrison Home Corp. (a)
|
97,027
|
|||
|
2,450
|
Tri Pointe Homes, Inc. (a)
|
72,226
|
|||
|
|
|
476,489
|
|||
|
|
Industrial REITs — 0.2%
|
|
|||
|
1,077
|
Innovative Industrial Properties,
Inc.
|
59,472
|
|||
|
|
Insurance — 2.1%
|
|
|||
|
414
|
Employers Holdings, Inc.
|
20,149
|
|||
|
4,669
|
Fidelis Insurance Holdings Ltd.
|
81,614
|
|||
|
4,829
|
Hamilton Insurance Group Ltd.,
Class B (a)
|
105,079
|
|||
|
625
|
HCI Group, Inc.
|
105,481
|
|||
|
324
|
Root, Inc., Class A (a)
|
42,441
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Insurance (Continued)
|
|
|||
|
6,172
|
SiriusPoint Ltd. (a)
|
$120,910
|
|||
|
8,223
|
Universal Insurance Holdings,
Inc.
|
223,172
|
|||
|
|
|
698,846
|
|||
|
|
Interactive Media & Services
— 1.3%
|
|
|||
|
517
|
Cargurus, Inc. (a)
|
16,203
|
|||
|
2,639
|
EverQuote, Inc., Class A (a)
|
60,829
|
|||
|
11,700
|
Grindr, Inc. (a)
|
285,714
|
|||
|
470
|
Yelp, Inc. (a)
|
17,940
|
|||
|
1,694
|
Ziff Davis, Inc. (a)
|
54,953
|
|||
|
|
|
435,639
|
|||
|
|
IT Services — 0.5%
|
|
|||
|
570
|
ASGN, Inc. (a)
|
30,102
|
|||
|
9,082
|
DXC Technology Co. (a)
|
138,046
|
|||
|
|
|
168,148
|
|||
|
|
Life Sciences Tools & Services
— 0.5%
|
|
|||
|
2,879
|
BioLife Solutions, Inc. (a)
|
62,993
|
|||
|
338
|
Medpace Holdings, Inc. (a)
|
99,676
|
|||
|
53
|
OmniAb, Inc. - 12.5 Earnout
Shares (a) (b) (c) (d) (e)
|
0
|
|||
|
53
|
OmniAb, Inc. - 15 Earnout
Shares (a) (b) (c) (d) (e)
|
0
|
|||
|
|
|
162,669
|
|||
|
|
Machinery — 4.3%
|
|
|||
|
5,707
|
Blue Bird Corp. (a)
|
220,861
|
|||
|
378
|
Enerpac Tool Group Corp.
|
16,209
|
|||
|
618
|
ESCO Technologies, Inc.
|
112,006
|
|||
|
2,745
|
Hyster-Yale, Inc.
|
110,239
|
|||
|
646
|
Kennametal, Inc.
|
13,908
|
|||
|
3,452
|
Mueller Industries, Inc.
|
268,807
|
|||
|
8,140
|
Mueller Water Products, Inc.,
Class A
|
199,674
|
|||
|
3,577
|
REV Group, Inc.
|
134,102
|
|||
|
725
|
SPX Technologies, Inc. (a)
|
110,265
|
|||
|
3,411
|
Terex Corp.
|
153,529
|
|||
|
9,500
|
Titan International, Inc. (a)
|
68,780
|
|||
|
3,838
|
Wabash National Corp.
|
33,276
|
|||
|
|
|
1,441,656
|
|||
|
|
Marine Transportation —
0.7%
|
|
|||
|
5,989
|
Genco Shipping & Trading Ltd.
|
79,294
|
|||
|
9,677
|
Golden Ocean Group Ltd.
|
74,513
|
|||
|
706
|
Matson, Inc.
|
79,672
|
|||
|
|
|
233,479
|
|||
|
|
Media — 1.1%
|
|
|||
|
4,364
|
AMC Networks, Inc.,
Class A (a)
|
28,846
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Media (Continued)
|
|
|||
|
2,023
|
John Wiley & Sons, Inc.,
Class A
|
$79,140
|
|||
|
3,426
|
Scholastic Corp.
|
59,167
|
|||
|
11,526
|
TEGNA, Inc.
|
192,715
|
|||
|
|
|
359,868
|
|||
|
|
Metals & Mining — 2.2%
|
|
|||
|
666
|
Alpha Metallurgical Resources,
Inc. (a)
|
74,619
|
|||
|
1,911
|
Carpenter Technology Corp.
|
449,085
|
|||
|
9,566
|
Ramaco Resources, Inc., Class A
|
86,477
|
|||
|
15,726
|
SunCoke Energy, Inc.
|
128,009
|
|||
|
|
|
738,190
|
|||
|
|
Multi-Utilities — 0.2%
|
|
|||
|
1,799
|
Avista Corp.
|
69,280
|
|||
|
|
Office REITs — 0.3%
|
|
|||
|
3,176
|
Highwoods Properties, Inc.
|
94,327
|
|||
|
|
Oil, Gas & Consumable Fuels
— 3.1%
|
|
|||
|
6,567
|
Ardmore Shipping Corp.
|
63,109
|
|||
|
46
|
Chord Energy Corp.
|
4,140
|
|||
|
1,875
|
Civitas Resources, Inc.
|
51,319
|
|||
|
1,011
|
Core Natural Resources, Inc.
|
70,062
|
|||
|
7,020
|
DHT Holdings, Inc.
|
81,292
|
|||
|
4,012
|
Dorian LPG Ltd.
|
85,897
|
|||
|
6,269
|
Excelerate Energy, Inc., Class A
|
176,347
|
|||
|
479
|
International Seaways, Inc.
|
17,747
|
|||
|
1,886
|
Kinetik Holdings, Inc.
|
84,003
|
|||
|
722
|
Magnolia Oil & Gas Corp.,
Class A
|
15,523
|
|||
|
580
|
Murphy Oil Corp.
|
12,139
|
|||
|
4,856
|
Peabody Energy Corp.
|
63,905
|
|||
|
892
|
Scorpio Tankers, Inc.
|
35,448
|
|||
|
4,811
|
Teekay Tankers Ltd., Class A
|
212,598
|
|||
|
3,467
|
Vitesse Energy, Inc.
|
72,564
|
|||
|
|
|
1,046,093
|
|||
|
|
Paper & Forest Products —
0.3%
|
|
|||
|
2,147
|
Sylvamo Corp.
|
113,727
|
|||
|
|
Passenger Airlines — 1.0%
|
|
|||
|
3,378
|
SkyWest, Inc. (a)
|
342,698
|
|||
|
|
Personal Care Products —
1.3%
|
|
|||
|
2,479
|
BellRing Brands, Inc. (a)
|
156,053
|
|||
|
8,030
|
Medifast, Inc. (a)
|
112,982
|
|||
|
18,125
|
Nu Skin Enterprises, Inc.,
Class A
|
156,419
|
|||
|
|
|
425,454
|
|||
|
|
Pharmaceuticals — 3.5%
|
|
|||
|
391
|
Amphastar Pharmaceuticals,
Inc. (a)
|
10,053
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Pharmaceuticals (Continued)
|
|
|||
|
1,557
|
ANI Pharmaceuticals, Inc. (a)
|
$91,427
|
|||
|
742
|
Axsome Therapeutics, Inc. (a)
|
78,029
|
|||
|
529
|
Collegium Pharmaceutical,
Inc. (a)
|
15,415
|
|||
|
4,341
|
Corcept Therapeutics, Inc. (a)
|
336,688
|
|||
|
4,539
|
CorMedix, Inc. (a)
|
55,103
|
|||
|
2,246
|
Harmony Biosciences Holdings,
Inc. (a)
|
77,487
|
|||
|
527
|
Harrow, Inc. (a)
|
14,814
|
|||
|
2,023
|
Innoviva, Inc. (a)
|
39,590
|
|||
|
6,179
|
Pacira BioSciences, Inc. (a)
|
159,665
|
|||
|
16,836
|
SIGA Technologies, Inc.
|
100,679
|
|||
|
3,501
|
Supernus Pharmaceuticals,
Inc. (a)
|
110,982
|
|||
|
1,566
|
Tarsus Pharmaceuticals, Inc. (a)
|
67,260
|
|||
|
|
|
1,157,192
|
|||
|
|
Professional Services — 2.4%
|
|
|||
|
2,174
|
Barrett Business Services, Inc.
|
89,841
|
|||
|
689
|
CRA International, Inc.
|
130,945
|
|||
|
1,253
|
CSG Systems International, Inc.
|
82,773
|
|||
|
2,331
|
ExlService Holdings, Inc. (a)
|
107,203
|
|||
|
2,787
|
Heidrick & Struggles
International, Inc.
|
121,680
|
|||
|
860
|
Huron Consulting Group, Inc. (a)
|
122,834
|
|||
|
984
|
Innodata, Inc. (a)
|
38,839
|
|||
|
3,768
|
Kelly Services, Inc., Class A
|
44,161
|
|||
|
291
|
ManpowerGroup, Inc.
|
12,207
|
|||
|
244
|
Maximus, Inc.
|
17,692
|
|||
|
478
|
Resolute Holdings Management,
Inc. (a)
|
16,438
|
|||
|
360
|
WNS Holdings Ltd. (a)
|
20,876
|
|||
|
|
|
805,489
|
|||
|
|
Real Estate Management &
Development — 0.5%
|
|
|||
|
6,753
|
Cushman & Wakefield PLC (a)
|
67,732
|
|||
|
7,696
|
RMR Group (The), Inc., Class A
|
116,210
|
|||
|
|
|
183,942
|
|||
|
|
Retail REITs — 0.2%
|
|
|||
|
2,966
|
CBL & Associates Properties,
Inc.
|
74,773
|
|||
|
|
Semiconductors &
Semiconductor Equipment
— 0.8%
|
|
|||
|
1,390
|
Axcelis Technologies, Inc. (a)
|
78,313
|
|||
|
1,276
|
Credo Technology Group
Holding Ltd. (a)
|
77,785
|
|||
|
2,848
|
Photronics, Inc. (a)
|
47,590
|
|||
|
1,383
|
Semtech Corp. (a)
|
51,627
|
|||
|
|
|
255,315
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Software — 6.4%
|
|
|||
|
4,285
|
A10 Networks, Inc.
|
$73,959
|
|||
|
1,971
|
ACI Worldwide, Inc. (a)
|
91,178
|
|||
|
900
|
Alarm.com Holdings, Inc. (a)
|
51,660
|
|||
|
1,305
|
Alkami Technology, Inc. (a)
|
37,375
|
|||
|
374
|
Appfolio, Inc., Class A (a)
|
78,978
|
|||
|
4,463
|
AvePoint, Inc. (a)
|
83,235
|
|||
|
8,686
|
Clear Secure, Inc., Class A
|
214,979
|
|||
|
1,418
|
Commvault Systems, Inc. (a)
|
259,707
|
|||
|
3,161
|
Intapp, Inc. (a)
|
174,234
|
|||
|
1,909
|
InterDigital, Inc.
|
414,749
|
|||
|
1,304
|
LiveRamp Holdings, Inc. (a)
|
42,484
|
|||
|
10,159
|
Mitek Systems, Inc. (a)
|
95,393
|
|||
|
6,147
|
OneSpan, Inc.
|
97,922
|
|||
|
345
|
Progress Software Corp.
|
21,238
|
|||
|
1,114
|
Q2 Holdings, Inc. (a)
|
97,497
|
|||
|
2,045
|
Sapiens International Corp. N.V.
|
58,692
|
|||
|
1,412
|
SEMrush Holdings, Inc.,
Class A (a)
|
13,894
|
|||
|
1,080
|
Teradata Corp. (a)
|
23,717
|
|||
|
6,485
|
Verint Systems, Inc. (a)
|
113,747
|
|||
|
1,419
|
Weave Communications, Inc. (a)
|
13,693
|
|||
|
5,311
|
Yext, Inc. (a)
|
35,637
|
|||
|
3,665
|
Zeta Global Holdings Corp.,
Class A (a)
|
48,158
|
|||
|
|
|
2,142,126
|
|||
|
|
Specialized REITs — 0.3%
|
|
|||
|
1,611
|
EPR Properties
|
89,717
|
|||
|
|
Specialty Retail — 3.0%
|
|
|||
|
796
|
Abercrombie & Fitch Co.,
Class A (a)
|
62,478
|
|||
|
3,859
|
Academy Sports & Outdoors,
Inc.
|
157,872
|
|||
|
886
|
American Eagle Outfitters, Inc.
|
9,711
|
|||
|
3,779
|
Buckle (The), Inc.
|
161,023
|
|||
|
1,858
|
Caleres, Inc.
|
24,990
|
|||
|
545
|
Carvana Co. (a)
|
178,302
|
|||
|
3,261
|
Guess?, Inc.
|
34,175
|
|||
|
185
|
Murphy USA, Inc.
|
78,956
|
|||
|
2,865
|
ODP (The) Corp. (a)
|
47,129
|
|||
|
7,496
|
Sally Beauty Holdings, Inc. (a)
|
65,290
|
|||
|
599
|
Signet Jewelers Ltd.
|
39,876
|
|||
|
535
|
Upbound Group, Inc.
|
12,273
|
|||
|
1,786
|
Urban Outfitters, Inc. (a)
|
124,841
|
|||
|
|
|
996,916
|
|||
|
|
Technology Hardware, Storage
& Peripherals — 0.3%
|
|
|||
|
5,747
|
CompoSecure, Inc., Class A (a)
|
78,791
|
|||
|
1,218
|
Xerox Holdings Corp.
|
5,956
|
|||
|
|
|
84,747
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (Continued)
|
|||||
|
|
Textiles, Apparel & Luxury
Goods — 0.9%
|
|
|||
|
320
|
Carter’s, Inc.
|
$10,038
|
|||
|
6,127
|
G-III Apparel Group Ltd. (a)
|
177,989
|
|||
|
353
|
Kontoor Brands, Inc.
|
24,216
|
|||
|
874
|
Movado Group, Inc.
|
14,159
|
|||
|
967
|
PVH Corp.
|
81,006
|
|||
|
|
|
307,408
|
|||
|
|
Tobacco — 0.4%
|
|
|||
|
1,642
|
Turning Point Brands, Inc.
|
122,033
|
|||
|
|
Trading Companies &
Distributors — 2.7%
|
|
|||
|
988
|
Applied Industrial Technologies,
Inc.
|
223,802
|
|||
|
848
|
BlueLinx Holdings, Inc. (a)
|
56,748
|
|||
|
2,159
|
Boise Cascade Co.
|
187,574
|
|||
|
1,815
|
DXP Enterprises, Inc. (a)
|
150,064
|
|||
|
1,189
|
GMS, Inc. (a)
|
90,043
|
|||
|
24,184
|
Hudson Technologies, Inc. (a)
|
172,916
|
|||
|
1,295
|
MRC Global, Inc. (a)
|
16,071
|
|||
|
|
|
897,218
|
|||
|
|
Total Common Stocks
|
33,374,382
|
|||
|
|
(Cost $34,499,799)
|
|
|||
|
MONEY MARKET FUNDS — 0.2%
|
|||||
|
51,714
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
4.16% (f)
|
51,714
|
|||
|
|
(Cost $51,714)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 100.0%
|
33,426,096
|
|||
|
|
(Cost $34,551,513)
|
|
|||
|
|
Net Other Assets and
Liabilities — 0.0%
|
10,219
|
|||
|
|
Net Assets — 100.0%
|
$33,436,315
|
|||
|
(a)
|
Non-income producing security.
|
|
(b)
|
Pursuant to procedures adopted by the Trust’s Board of
Trustees, this security has been determined to be illiquid by
First Trust Advisors L.P. (the “Advisor”).
|
|
(c)
|
Restricted security as to resale, excluding Rule 144A
securities (see Restricted Securities table).
|
|
(d)
|
This security is fair valued by the Advisor’s Pricing
Committee in accordance with procedures approved by the
Trust’s Board of Trustees, and in accordance with provisions
of the Investment Company Act of 1940 and rules
thereunder, as amended. At May 31, 2025, securities noted as
such are valued at $0 or 0.0% of net assets.
|
|
(e)
|
This security’s value was determined using significant
unobservable inputs (see Valuation Inputs in the Additional
Information section).
|
|
(f)
|
Rate shown reflects yield as of May 31, 2025.
|
|
Abbreviations throughout the Portfolio of Investments:
|
|
|
REITs
|
– Real Estate Investment Trusts
|
|
|
Total
Value at
5/31/2025
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Common Stocks:
|
|
|
|
|
|
Life Sciences Tools
& Services
|
$ 162,669
|
$ 162,669
|
$ —
|
$ —**
|
|
Other Industry
Categories*
|
33,211,713
|
33,211,713
|
—
|
—
|
|
Money Market Funds
|
51,714
|
51,714
|
—
|
—
|
|
Total Investments
|
$33,426,096
|
$33,426,096
|
$—
|
$—**
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
**
|
Investments are valued at $0.
|
|
Security
|
Acquisition
Date
|
Shares
|
Current
Price
|
Carrying
Cost
|
Value
|
% of
Net Assets
|
|
OmniAb, Inc. - 12.5 Earnout Shares
|
11/02/22
|
53
|
$0.00
|
$0
|
$0
|
0.00
%
|
|
OmniAb, Inc. - 15 Earnout Shares
|
11/02/22
|
53
|
0.00
|
0
|
0
|
0.00
|
|
|
|
|
|
$0
|
$0
|
0.00
%
|
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (a) — 99.0%
|
|||||
|
|
Aerospace & Defense — 2.6%
|
|
|||
|
3,478
|
AeroVironment, Inc. (b)
|
$619,189
|
|||
|
5,457
|
BWX Technologies, Inc.
|
685,399
|
|||
|
6,811
|
Leonardo DRS, Inc.
|
288,105
|
|||
|
|
|
1,592,693
|
|||
|
|
Biotechnology — 8.6%
|
|
|||
|
37,831
|
89bio, Inc. (b)
|
372,257
|
|||
|
2,035
|
AbbVie, Inc.
|
378,734
|
|||
|
52,976
|
Amicus Therapeutics, Inc. (b)
|
321,564
|
|||
|
740
|
Argenx SE (EUR) (b)
|
425,493
|
|||
|
8,164
|
BioMarin Pharmaceutical,
Inc. (b)
|
474,083
|
|||
|
12,703
|
Halozyme Therapeutics, Inc. (b)
|
712,257
|
|||
|
1,356
|
Madrigal Pharmaceuticals,
Inc. (b)
|
373,253
|
|||
|
8,799
|
Mirum Pharmaceuticals, Inc. (b)
|
391,204
|
|||
|
3,479
|
Neurocrine Biosciences, Inc. (b)
|
427,987
|
|||
|
18,851
|
SpringWorks Therapeutics,
Inc. (b)
|
880,530
|
|||
|
1,217
|
Vertex Pharmaceuticals, Inc. (b)
|
537,975
|
|||
|
|
|
5,295,337
|
|||
|
|
Broadline Retail — 6.3%
|
|
|||
|
18,774
|
Amazon.com, Inc. (b)
|
3,848,858
|
|||
|
|
Capital Markets — 1.4%
|
|
|||
|
942
|
Coinbase Global, Inc.,
Class A (b)
|
232,316
|
|||
|
4,424
|
Tradeweb Markets, Inc., Class A
|
639,047
|
|||
|
|
|
871,363
|
|||
|
|
Communications Equipment
— 0.9%
|
|
|||
|
6,634
|
Arista Networks, Inc. (b)
|
574,770
|
|||
|
|
Electric Utilities — 5.4%
|
|
|||
|
5,892
|
Constellation Energy Corp.
|
1,803,836
|
|||
|
27,400
|
Kansai Electric Power (The) Co.,
Inc. (JPY)
|
312,474
|
|||
|
12,250
|
NextEra Energy, Inc.
|
865,340
|
|||
|
6,492
|
Oklo, Inc. (b)
|
342,258
|
|||
|
|
|
3,323,908
|
|||
|
|
Electrical Equipment — 9.5%
|
|
|||
|
3,176
|
Eaton Corp. PLC
|
1,016,955
|
|||
|
1,471
|
GE Vernova, Inc.
|
695,754
|
|||
|
19,943
|
NuScale Power Corp. (b)
|
637,976
|
|||
|
7,121
|
Schneider Electric SE (EUR)
|
1,789,730
|
|||
|
17,083
|
Siemens Energy AG (EUR) (b)
|
1,658,431
|
|||
|
|
|
5,798,846
|
|||
|
|
Entertainment — 1.3%
|
|
|||
|
661
|
Netflix, Inc. (b)
|
797,979
|
|||
|
|
Financial Services — 4.5%
|
|
|||
|
417
|
Adyen N.V. (EUR) (b) (c) (d)
|
799,995
|
|||
|
8,118
|
Block, Inc. (b)
|
501,287
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Financial Services (Continued)
|
|
|||
|
21,519
|
Toast, Inc., Class A (b)
|
$907,671
|
|||
|
1,602
|
Visa, Inc., Class A
|
585,034
|
|||
|
|
|
2,793,987
|
|||
|
|
Ground Transportation —
1.8%
|
|
|||
|
71,320
|
Grab Holdings Ltd., Class A (b)
|
347,328
|
|||
|
9,075
|
Uber Technologies, Inc. (b)
|
763,752
|
|||
|
|
|
1,111,080
|
|||
|
|
Health Care Equipment &
Supplies — 1.4%
|
|
|||
|
1,607
|
Intuitive Surgical, Inc. (b)
|
887,610
|
|||
|
|
Hotels, Restaurants & Leisure
— 0.9%
|
|
|||
|
2,994
|
Airbnb, Inc., Class A (b)
|
386,226
|
|||
|
10,403
|
Sweetgreen, Inc., Class A (b)
|
139,608
|
|||
|
|
|
525,834
|
|||
|
|
Interactive Media & Services
— 3.3%
|
|
|||
|
2,837
|
Meta Platforms, Inc., Class A
|
1,836,929
|
|||
|
1,464
|
Reddit, Inc., Class A (b)
|
164,481
|
|||
|
|
|
2,001,410
|
|||
|
|
IT Services — 3.9%
|
|
|||
|
4,637
|
Akamai Technologies, Inc. (b)
|
352,088
|
|||
|
15,616
|
IONOS Group SE (EUR) (b)
|
722,544
|
|||
|
3,784
|
Okta, Inc. (b)
|
390,395
|
|||
|
8,786
|
Shopify, Inc., Class A (b)
|
942,035
|
|||
|
|
|
2,407,062
|
|||
|
|
Machinery — 1.0%
|
|
|||
|
3,784
|
Chart Industries, Inc. (b)
|
593,558
|
|||
|
|
Media — 0.5%
|
|
|||
|
3,811
|
Trade Desk (The), Inc.,
Class A (b)
|
286,663
|
|||
|
|
Pharmaceuticals — 4.9%
|
|
|||
|
3,298
|
Eli Lilly & Co.
|
2,432,836
|
|||
|
7,607
|
Merck & Co., Inc.
|
584,522
|
|||
|
|
|
3,017,358
|
|||
|
|
Semiconductors &
Semiconductor Equipment
— 17.1%
|
|
|||
|
8,012
|
Broadcom, Inc.
|
1,939,465
|
|||
|
8,012
|
Marvell Technology, Inc.
|
482,242
|
|||
|
11,052
|
Micron Technology, Inc.
|
1,043,972
|
|||
|
34,876
|
NVIDIA Corp.
|
4,712,794
|
|||
|
9,762
|
QUALCOMM, Inc.
|
1,417,442
|
|||
|
12,185
|
Rambus, Inc. (b)
|
651,532
|
|||
|
18,146
|
Rigetti Computing, Inc. (b)
|
219,748
|
|||
|
|
|
10,467,195
|
|||
|
|
Software — 23.3%
|
|
|||
|
1,361
|
Adobe, Inc. (b)
|
564,937
|
|||
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS (a) (Continued)
|
|||||
|
|
Software (Continued)
|
|
|||
|
3,771
|
Agilysys, Inc. (b)
|
$399,387
|
|||
|
2,074
|
Atlassian Corp., Class A (b)
|
430,625
|
|||
|
2,263
|
CyberArk Software Ltd. (b)
|
866,231
|
|||
|
3,930
|
Datadog, Inc., Class A (b)
|
463,268
|
|||
|
11,545
|
Dynatrace, Inc. (b)
|
623,545
|
|||
|
6,915
|
Microsoft Corp.
|
3,183,389
|
|||
|
19,761
|
Oracle Corp.
|
3,271,038
|
|||
|
3,556
|
Palo Alto Networks, Inc. (b)
|
684,246
|
|||
|
19,524
|
Sage Group (The) PLC (GBP)
|
320,665
|
|||
|
28,277
|
SEMrush Holdings, Inc.,
Class A (b)
|
278,246
|
|||
|
1,413
|
ServiceNow, Inc. (b)
|
1,428,670
|
|||
|
1,885
|
SPS Commerce, Inc. (b)
|
265,333
|
|||
|
3,112
|
Workday, Inc., Class A (b)
|
770,874
|
|||
|
2,639
|
Zscaler, Inc. (b)
|
727,572
|
|||
|
|
|
14,278,026
|
|||
|
|
Technology Hardware, Storage
& Peripherals — 0.4%
|
|
|||
|
5,897
|
IonQ, Inc. (b)
|
237,885
|
|||
|
|
Total Common Stocks
|
60,711,422
|
|||
|
|
(Cost $52,391,373)
|
|
|||
|
MONEY MARKET FUNDS — 1.0%
|
|||||
|
595,210
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
4.16% (e)
|
595,210
|
|||
|
|
(Cost $595,210)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 100.0%
|
61,306,632
|
|||
|
|
(Cost $52,986,583)
|
|
|||
|
|
Net Other Assets and
Liabilities — 0.0%
|
16,094
|
|||
|
|
Net Assets — 100.0%
|
$61,322,726
|
|||
|
(a)
|
Securities are issued in U.S. dollars unless otherwise
indicated in the security description.
|
|
(b)
|
Non-income producing security.
|
|
(c)
|
This security is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the
“1933 Act”) and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. This
security is not restricted on the foreign exchange where it
trades freely without any additional registration.
|
|
(d)
|
This security may be resold to qualified foreign investors and
foreign institutional buyers under Regulation S of the 1933
Act.
|
|
(e)
|
Rate shown reflects yield as of May 31, 2025.
|
|
Abbreviations throughout the Portfolio of Investments:
|
|
|
EUR
|
– Euro
|
|
GBP
|
– British Pound Sterling
|
|
JPY
|
– Japanese Yen
|
|
|
Total
Value at
5/31/2025
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Common Stocks*
|
$ 60,711,422
|
$ 60,711,422
|
$ —
|
$ —
|
|
Money Market Funds
|
595,210
|
595,210
|
—
|
—
|
|
Total Investments
|
$61,306,632
|
$61,306,632
|
$—
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Shares
|
Description
|
Value
|
|||
|
COMMON STOCKS — 99.7%
|
|||||
|
|
Communications Equipment
— 8.4%
|
|
|||
|
6,364
|
Arista Networks, Inc. (a)
|
$551,377
|
|||
|
17,160
|
Cisco Systems, Inc.
|
1,081,766
|
|||
|
209
|
F5, Inc. (a)
|
59,645
|
|||
|
842
|
Motorola Solutions, Inc.
|
349,750
|
|||
|
179
|
Ubiquiti, Inc.
|
70,757
|
|||
|
|
|
2,113,295
|
|||
|
|
Electronic Equipment,
Instruments & Components
— 3.2%
|
|
|||
|
6,112
|
Amphenol Corp., Class A
|
549,652
|
|||
|
394
|
Jabil, Inc.
|
66,196
|
|||
|
120
|
Teledyne Technologies, Inc. (a)
|
59,863
|
|||
|
849
|
Trimble, Inc. (a)
|
60,508
|
|||
|
194
|
Zebra Technologies Corp.,
Class A (a)
|
56,216
|
|||
|
|
|
792,435
|
|||
|
|
Entertainment — 5.8%
|
|
|||
|
1,122
|
Netflix, Inc. (a)
|
1,354,512
|
|||
|
5,334
|
Warner Bros. Discovery, Inc. (a)
|
53,180
|
|||
|
1,814
|
Warner Music Group Corp.,
Class A
|
47,744
|
|||
|
|
|
1,455,436
|
|||
|
|
Financial Services — 12.4%
|
|
|||
|
167
|
Corpay, Inc. (a)
|
54,293
|
|||
|
2,833
|
Fiserv, Inc. (a)
|
461,184
|
|||
|
1,910
|
Mastercard, Inc., Class A
|
1,118,496
|
|||
|
4,992
|
PayPal Holdings, Inc. (a)
|
350,838
|
|||
|
3,032
|
Visa, Inc., Class A
|
1,107,256
|
|||
|
|
|
3,092,067
|
|||
|
|
Interactive Media & Services
— 8.7%
|
|
|||
|
6,461
|
Alphabet, Inc., Class A
|
1,109,612
|
|||
|
1,646
|
Meta Platforms, Inc., Class A
|
1,065,769
|
|||
|
|
|
2,175,381
|
|||
|
|
IT Services — 5.0%
|
|
|||
|
122
|
Gartner, Inc. (a)
|
53,243
|
|||
|
341
|
GoDaddy, Inc., Class A (a)
|
62,113
|
|||
|
4,359
|
International Business Machines
Corp.
|
1,129,243
|
|||
|
|
|
1,244,599
|
|||
|
|
Media — 1.6%
|
|
|||
|
716
|
Charter Communications, Inc.,
Class A (a)
|
283,730
|
|||
|
1,062
|
Fox Corp., Class A
|
58,346
|
|||
|
739
|
Omnicom Group, Inc.
|
54,272
|
|||
|
|
|
396,348
|
|||
|
Shares
|
Description
|
Value
|
|||
|
|
|||||
|
|
Semiconductors &
Semiconductor Equipment
— 17.7%
|
|
|||
|
5,516
|
Broadcom, Inc.
|
$1,335,258
|
|||
|
670
|
KLA Corp.
|
507,110
|
|||
|
6,478
|
Lam Research Corp.
|
523,358
|
|||
|
101
|
Monolithic Power Systems, Inc.
|
66,852
|
|||
|
8,808
|
NVIDIA Corp.
|
1,190,225
|
|||
|
5,578
|
QUALCOMM, Inc.
|
809,925
|
|||
|
|
|
4,432,728
|
|||
|
|
Software — 28.9%
|
|
|||
|
1,716
|
AppLovin Corp., Class A (a)
|
674,388
|
|||
|
1,084
|
Autodesk, Inc. (a)
|
320,994
|
|||
|
1,242
|
Crowdstrike Holdings, Inc.,
Class A (a)
|
585,442
|
|||
|
524
|
Datadog, Inc., Class A (a)
|
61,769
|
|||
|
1,067
|
Dynatrace, Inc. (a)
|
57,629
|
|||
|
2,236
|
Gen Digital, Inc.
|
63,681
|
|||
|
2,772
|
Microsoft Corp.
|
1,276,118
|
|||
|
6,625
|
Oracle Corp.
|
1,096,636
|
|||
|
3,341
|
Palo Alto Networks, Inc. (a)
|
642,875
|
|||
|
542
|
Roper Technologies, Inc.
|
309,086
|
|||
|
3,694
|
Salesforce, Inc.
|
980,277
|
|||
|
1,040
|
ServiceNow, Inc. (a)
|
1,051,534
|
|||
|
101
|
Tyler Technologies, Inc. (a)
|
58,276
|
|||
|
829
|
Zoom Communications, Inc. (a)
|
67,356
|
|||
|
|
|
7,246,061
|
|||
|
|
Technology Hardware, Storage
& Peripherals — 4.1%
|
|
|||
|
4,550
|
Apple, Inc.
|
913,867
|
|||
|
3,085
|
Hewlett Packard Enterprise Co.
|
53,309
|
|||
|
613
|
NetApp, Inc.
|
60,785
|
|||
|
|
|
1,027,961
|
|||
|
|
Wireless Telecommunication
Services — 3.9%
|
|
|||
|
4,079
|
T-Mobile US, Inc.
|
987,934
|
|||
|
|
Total Common Stocks
|
24,964,245
|
|||
|
|
(Cost $21,657,113)
|
|
|||
|
MONEY MARKET FUNDS — 0.3%
|
|||||
|
67,161
|
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
4.16% (b)
|
67,161
|
|||
|
|
(Cost $67,161)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 100.0%
|
25,031,406
|
|||
|
|
(Cost $21,724,274)
|
|
|||
|
|
Net Other Assets and
Liabilities — 0.0%
|
3,678
|
|||
|
|
Net Assets — 100.0%
|
$25,035,084
|
|||
|
(a)
|
Non-income producing security.
|
|
(b)
|
Rate shown reflects yield as of May 31, 2025.
|
|
|
Total
Value at
5/31/2025
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Common Stocks*
|
$ 24,964,245
|
$ 24,964,245
|
$ —
|
$ —
|
|
Money Market Funds
|
67,161
|
67,161
|
—
|
—
|
|
Total Investments
|
$25,031,406
|
$25,031,406
|
$—
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Shares
|
Description
|
Value
|
|||
|
EXCHANGE-TRADED FUNDS — 99.9%
|
|||||
|
|
Capital Markets — 99.9%
|
|
|||
|
141,746
|
First Trust Alternative Absolute
Return Strategy ETF (a)
|
$3,774,696
|
|||
|
44,913
|
First Trust Global Tactical
Commodity Strategy Fund (a)
|
1,078,361
|
|||
|
64,462
|
First Trust Long/Short Equity
ETF (a)
|
4,224,195
|
|||
|
25,235
|
First Trust Low Duration
Opportunities ETF (a)
|
1,233,992
|
|||
|
88,570
|
First Trust Managed Futures
Strategy Fund (a)
|
3,979,344
|
|||
|
71,848
|
First Trust Merger Arbitrage
ETF (a)
|
1,458,514
|
|||
|
15,028
|
iShares 7-10 Year Treasury
Bond ETF
|
1,421,198
|
|||
|
25,937
|
iShares Gold Trust (b)
|
1,612,244
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 99.9%
|
18,782,544
|
|||
|
|
(Cost $18,911,938)
|
|
|||
|
|
Net Other Assets and
Liabilities — 0.1%
|
10,148
|
|||
|
|
Net Assets — 100.0%
|
$18,792,692
|
|||
|
(a)
|
Investment in an affiliated fund.
|
|
(b)
|
Non-income producing security.
|
|
|
Total
Value at
5/31/2025
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Exchange-Traded
Funds*
|
$ 18,782,544
|
$ 18,782,544
|
$ —
|
$ —
|
|
*
|
See Portfolio of Investments for industry breakout.
|
|
Security Name
|
Shares at
5/31/2025
|
Value at
8/31/2024
|
Purchases
|
Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
(Loss)
|
Value at
5/31/2025
|
Dividend
Income
|
|
First Trust Alternative Absolute
Return Strategy ETF
|
141,746
|
$2,207,643
|
$2,931,131
|
$(1,103,429
)
|
$(191,604
)
|
$(69,045
)
|
$3,774,696
|
$72,141
|
|
First Trust BuyWrite Income ETF
|
—
|
—
|
1,043,549
|
(992,774
)
|
—
|
(50,775
)
|
—
|
31,432
|
|
First Trust Global Tactical
Commodity Strategy Fund
|
44,913
|
497,747
|
1,447,674
|
(801,586
)
|
(51,653
)
|
(13,821
)
|
1,078,361
|
4,035
|
|
First Trust Long/Short Equity
ETF
|
64,462
|
2,256,254
|
3,160,781
|
(1,235,407
)
|
(33,855
)
|
76,422
|
4,224,195
|
32,044
|
|
First Trust Low Duration
Opportunities ETF
|
25,235
|
—
|
1,513,724
|
(273,266
)
|
(4,660
)
|
(1,806
)
|
1,233,992
|
7,858
|
|
First Trust Managed Futures
Strategy Fund
|
88,570
|
2,166,653
|
3,074,824
|
(1,028,314
)
|
(203,596
)
|
(30,223
)
|
3,979,344
|
109,685
|
|
First Trust Merger Arbitrage ETF
|
71,848
|
530,786
|
1,277,657
|
(370,978
)
|
17,984
|
3,065
|
1,458,514
|
10,403
|
|
First Trust Smith Unconstrained
Bond ETF
|
—
|
1,319,394
|
1,489,372
|
(2,791,884
)
|
(20,573
)
|
3,691
|
—
|
45,624
|
|
|
|
$8,978,477
|
$15,938,712
|
$(8,597,638
)
|
$(487,957
)
|
$(82,492
)
|
$15,749,102
|
$313,222
|