| Number of shares | Value (US $) | ||
| Common Stocks — 99.61%♣ | |||
| Communication Services — 3.07% | |||
| Pinterest Class A † | 2,168,373 | $ 77,757,856 | |
| Trade Desk Class A † | 1,026,494 | 73,897,303 | |
| 151,655,159 | |||
| Consumer Discretionary — 17.08% | |||
| Boot Barn Holdings † | 453,707 | 68,963,464 | |
| Dutch Bros Class A † | 696,415 | 47,613,894 | |
| Expedia Group | 440,797 | 74,353,638 | |
| Floor & Decor Holdings Class A † | 1,236,544 | 93,927,882 | |
| On Holding Class A † | 1,689,397 | 87,933,114 | |
| Pool | 305,746 | 89,118,844 | |
| Royal Caribbean Cruises | 491,089 | 153,779,609 | |
| SharkNinja † | 867,940 | 85,917,381 | |
| Tapestry | 724,107 | 63,583,836 | |
| Tractor Supply | 1,510,685 | 79,718,847 | |
| 844,910,509 | |||
| Consumer Staples — 1.19% | |||
| Casey's General Stores | 114,918 | 58,639,208 | |
| 58,639,208 | |||
| Financials — 9.77% | |||
| Blue Owl Capital | 4,028,830 | 77,393,824 | |
| Brown & Brown | 665,660 | 73,801,724 | |
| Corpay † | 286,829 | 95,175,599 | |
| Kinsale Capital Group | 161,727 | 78,259,696 | |
| LPL Financial Holdings | 267,497 | 100,303,350 | |
| Toast Class A † | 1,316,125 | 58,291,176 | |
| 483,225,369 | |||
| Healthcare — 16.69% | |||
| Align Technology † | 380,463 | 72,033,060 | |
| Alnylam Pharmaceuticals † | 250,047 | 81,537,826 | |
| Bio-Techne | 1,310,315 | 67,415,707 | |
| Edwards Lifesciences † | 728,483 | 56,974,655 | |
| IDEXX Laboratories † | 326,192 | 174,949,817 | |
| Inspire Medical Systems † | 338,794 | 43,965,297 | |
| Insulet † | 405,865 | 127,514,666 | |
| Ionis Pharmaceuticals † | 1,165,423 | 46,045,863 | |
| Veeva Systems Class A † | 334,400 | 96,300,512 | |
| Waystar Holding † | 1,429,703 | 58,431,962 | |
| 825,169,365 | |||
| Industrials — 20.57% | |||
| Booz Allen Hamilton Holding | 484,660 | 50,467,646 | |
| BWX Technologies | 450,205 | 64,856,532 | |
| Copart † | 1,110,750 | 54,504,503 | |
| EMCOR Group | 14,923 | 7,982,163 | |
| Fastenal | 2,981,804 | 125,235,768 | |
| Generac Holdings † | 604,189 | 86,525,907 | |
| HEICO Class A | 408,229 | 105,629,254 | |
| Howmet Aerospace | 609,640 | 113,472,293 | |
| Number of shares | Value (US $) | ||
| Common Stocks♣ (continued) | |||
| Industrials (continued) | |||
| Kratos Defense & Security Solutions † | 573,404 | $ 26,634,616 | |
| Lincoln Electric Holdings | 407,682 | 84,520,632 | |
| Old Dominion Freight Line | 378,455 | 61,423,246 | |
| Paylocity Holding † | 346,672 | 62,813,500 | |
| Quanta Services | 39,819 | 15,054,768 | |
| Rollins | 1,474,582 | 83,195,916 | |
| SPX Technologies † | 46,415 | 7,782,867 | |
| Trex † | 1,237,964 | 67,320,482 | |
| 1,017,420,093 | |||
| Information Technology — 26.06% | |||
| Appfolio Class A † | 43,336 | 9,979,414 | |
| AppLovin Class A † | 157,133 | 55,009,121 | |
| Bentley Systems Class B | 969,140 | 52,304,486 | |
| CDW | 337,837 | 60,334,310 | |
| Clearwater Analytics Holdings Class A † | 1,900,873 | 41,686,145 | |
| Cloudflare Class A † | 654,422 | 128,155,460 | |
| Coherent † | 890,528 | 79,444,003 | |
| CyberArk Software † | 158,661 | 64,555,988 | |
| Datadog Class A † | 889,274 | 119,456,176 | |
| HubSpot † | 161,903 | 90,120,067 | |
| Itron † | 434,583 | 57,204,160 | |
| Lattice Semiconductor † | 549,040 | 26,897,470 | |
| MACOM Technology Solutions Holdings † | 440,363 | 63,099,614 | |
| Manhattan Associates † | 131,357 | 25,939,067 | |
| Monday.com † | 194,992 | 61,321,084 | |
| Monolithic Power Systems | 139,361 | 101,925,848 | |
| Novanta † | 593,862 | 76,566,628 | |
| Snowflake Class A † | 444,911 | 99,557,734 | |
| Tyler Technologies † | 127,059 | 75,325,657 | |
| 1,288,882,432 | |||
| Materials — 1.76% | |||
| Martin Marietta Materials | 158,432 | 86,972,830 | |
| 86,972,830 | |||
| Real Estate — 3.42% | |||
| CoStar Group † | 2,105,087 | 169,248,995 | |
| 169,248,995 | |||
| Total Common Stocks (cost $3,731,754,719) | 4,926,123,960 | ||
| Short-Term Investments — 0.36% | |||
| Money Market Mutual Funds — 0.36% | |||
| BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.22%) | 4,471,801 | 4,471,801 | |
| Number of shares | Value (US $) | ||
| Short-Term Investments (continued) | |||
| Money Market Mutual Funds (continued) | |||
| Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.23%) | 4,471,801 | $ 4,471,801 | |
| Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.30%) | 4,471,801 | 4,471,801 | |
| Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.23%) | 4,471,801 | 4,471,801 | |
| Total Short-Term Investments (cost $17,887,204) | 17,887,204 | ||
| Total Value of Securities—99.97% (cost $3,749,641,923) | 4,944,011,164 | ||
| Receivables and Other Assets Net of Liabilities—0.03% | 1,378,681 | ||
| Net Assets Applicable to 176,915,038 Shares Outstanding—100.00% | $4,945,389,845 | ||
| ♣ | Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. |
| † | Non-income producing security. |