Common Stocks - 91.1%
|
|||
Shares
|
Value ($)
|
||
AUSTRALIA - 0.1%
|
|||
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Atomic Eagle Ltd (b)
|
801,920
|
244,849
|
|
Industrials - 0.0%
|
|||
Commercial Services & Supplies - 0.0%
|
|||
Brambles Ltd
|
79,130
|
1,241,889
|
|
Clean TeQ Water Ltd (b)
|
2,679
|
671
|
|
TOTAL INDUSTRIALS
|
1,242,560
|
||
Materials - 0.1%
|
|||
Metals & Mining - 0.1%
|
|||
Anglogold Ashanti Plc
|
132,400
|
12,890,464
|
|
TOTAL AUSTRALIA
|
14,377,873
|
||
BELGIUM - 0.6%
|
|||
Health Care - 0.6%
|
|||
Pharmaceuticals - 0.6%
|
|||
UCB SA
|
437,654
|
131,863,724
|
|
BRAZIL - 0.6%
|
|||
Consumer Discretionary - 0.0%
|
|||
Broadline Retail - 0.0%
|
|||
MercadoLibre Inc (b)
|
3,569
|
6,170,872
|
|
Energy - 0.0%
|
|||
Oil, Gas & Consumable Fuels - 0.0%
|
|||
Petroleo Brasileiro SA - Petrobras ADR
|
192,600
|
3,996,450
|
|
Financials - 0.2%
|
|||
Banks - 0.2%
|
|||
Itau Unibanco Holding SA ADR
|
895,644
|
7,505,497
|
|
NU Holdings Ltd/Cayman Islands Class A (b)
|
2,350,084
|
33,770,707
|
|
41,276,204
|
|||
Capital Markets - 0.0%
|
|||
Banco BTG Pactual SA unit
|
220,222
|
2,393,177
|
|
TOTAL FINANCIALS
|
43,669,381
|
||
Materials - 0.4%
|
|||
Metals & Mining - 0.4%
|
|||
Wheaton Precious Metals Corp
|
626,911
|
82,290,237
|
|
TOTAL BRAZIL
|
136,126,940
|
||
BURKINA FASO - 0.0%
|
|||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
IAMGOLD Corp (b)
|
172,100
|
3,236,386
|
|
CANADA - 3.2%
|
|||
Consumer Discretionary - 0.1%
|
|||
Broadline Retail - 0.0%
|
|||
Dollarama Inc
|
24,887
|
3,054,387
|
|
Specialty Retail - 0.1%
|
|||
Aritzia Inc Subordinate Voting Shares (b)
|
167,200
|
13,644,270
|
|
Textiles, Apparel & Luxury Goods - 0.0%
|
|||
Gildan Activewear Inc
|
85,200
|
4,744,766
|
|
TOTAL CONSUMER DISCRETIONARY
|
21,443,423
|
||
Energy - 0.5%
|
|||
Oil, Gas & Consumable Fuels - 0.5%
|
|||
Cameco Corp (United States)
|
296,706
|
32,225,239
|
|
Canadian Natural Resources Ltd (e)
|
1,254,714
|
61,206,881
|
|
Cenovus Energy Inc
|
166,500
|
4,418,935
|
|
GoviEx Uranium Inc (b)(f)
|
23,200
|
1,743
|
|
Imperial Oil Ltd
|
166,800
|
21,847,910
|
|
PrairieSky Royalty Ltd
|
39,000
|
902,739
|
|
Suncor Energy Inc
|
111,300
|
7,361,594
|
|
TOTAL ENERGY
|
127,965,041
|
||
Financials - 0.5%
|
|||
Banks - 0.2%
|
|||
Royal Bank of Canada
|
194,162
|
31,387,500
|
|
Toronto Dominion Bank
|
103,730
|
9,687,730
|
|
41,075,230
|
|||
Insurance - 0.3%
|
|||
Fairfax Financial Holdings Ltd Subordinate Voting Shares
|
30,460
|
51,901,335
|
|
Intact Financial Corp
|
102,285
|
18,534,974
|
|
70,436,309
|
|||
TOTAL FINANCIALS
|
111,511,539
|
||
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
Xenon Pharmaceuticals Inc (b)
|
192,400
|
11,188,060
|
|
Health Care Equipment & Supplies - 0.0%
|
|||
I-Pulse Inc (b)(c)(d)
|
58,562
|
148,162
|
|
I-Pulse Inc (b)(c)(d)
|
2,927
|
527
|
|
148,689
|
|||
TOTAL HEALTH CARE
|
11,336,749
|
||
Information Technology - 0.5%
|
|||
Electronic Equipment, Instruments & Components - 0.1%
|
|||
Celestica Inc (b)
|
98,345
|
27,742,466
|
|
IT Services - 0.4%
|
|||
Shopify Inc Class A (b)
|
751,325
|
89,147,944
|
|
Software - 0.0%
|
|||
Descartes Systems Group Inc/The (United States) (b)
|
74,300
|
5,316,908
|
|
TOTAL INFORMATION TECHNOLOGY
|
122,207,318
|
||
Materials - 1.6%
|
|||
Metals & Mining - 1.6%
|
|||
Agnico Eagle Mines Ltd/CA
|
188,389
|
38,239,812
|
|
Alamos Gold Inc Class A
|
242,395
|
10,784,147
|
|
Barrick Mining Corp (United States)
|
277,400
|
11,315,146
|
|
Franco-Nevada Corp
|
518,325
|
128,342,352
|
|
Franco-Nevada Corp (United States)
|
87,000
|
21,493,350
|
|
G Mining Ventures Corp (b)
|
179,235
|
6,290,168
|
|
Lundin Gold Inc
|
418,910
|
32,013,746
|
|
Novagold Resources Inc (b)
|
394,469
|
3,553,085
|
|
Orla Mining Ltd
|
6,207,203
|
99,816,786
|
|
TOTAL MATERIALS
|
351,848,592
|
||
TOTAL CANADA
|
746,312,662
|
||
CHILE - 0.0%
|
|||
Materials - 0.0%
|
|||
Metals & Mining - 0.0%
|
|||
Lundin Mining Corp
|
39,800
|
992,496
|
|
CHINA - 0.3%
|
|||
Communication Services - 0.0%
|
|||
Interactive Media & Services - 0.0%
|
|||
Tencent Holdings Ltd
|
20,451
|
1,289,893
|
|
Consumer Discretionary - 0.1%
|
|||
Automobiles - 0.1%
|
|||
BYD Co Ltd H Shares
|
2,532,500
|
34,622,662
|
|
Industrials - 0.2%
|
|||
Electrical Equipment - 0.2%
|
|||
Contemporary Amperex Technology Co Ltd A Shares (China)
|
586,100
|
34,723,473
|
|
TOTAL CHINA
|
70,636,028
|
||
CONGO DEMOCRATIC REPUBLIC OF - 0.2%
|
|||
Materials - 0.2%
|
|||
Metals & Mining - 0.2%
|
|||
Ivanhoe Mines Ltd Class A (b)(e)
|
4,134,023
|
35,334,292
|
|
DENMARK - 0.0%
|
|||
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
Ascendis Pharma A/S ADR (b)
|
29,200
|
6,678,916
|
|
Damora Therapeutics Inc (b)
|
23,800
|
616,420
|
|
TOTAL DENMARK
|
7,295,336
|
||
FINLAND - 0.2%
|
|||
Consumer Discretionary - 0.2%
|
|||
Textiles, Apparel & Luxury Goods - 0.2%
|
|||
Amer Sports Inc (b)
|
1,061,129
|
34,932,367
|
|
Information Technology - 0.0%
|
|||
Communications Equipment - 0.0%
|
|||
Nokia Oyj ADR
|
666,300
|
5,357,052
|
|
TOTAL FINLAND
|
40,289,419
|
||
FRANCE - 0.0%
|
|||
Health Care - 0.0%
|
|||
Health Care Equipment & Supplies - 0.0%
|
|||
EssilorLuxottica SA
|
33,763
|
7,867,627
|
|
Industrials - 0.0%
|
|||
Aerospace & Defense - 0.0%
|
|||
Dassault Aviation SA
|
10,970
|
4,083,063
|
|
TOTAL FRANCE
|
11,950,690
|
||
GERMANY - 0.1%
|
|||
Financials - 0.0%
|
|||
Insurance - 0.0%
|
|||
Allianz SE
|
2,604
|
1,099,717
|
|
Industrials - 0.1%
|
|||
Aerospace & Defense - 0.1%
|
|||
Rheinmetall AG
|
12,100
|
20,410,114
|
|
Electrical Equipment - 0.0%
|
|||
Siemens Energy AG
|
27,542
|
4,749,606
|
|
TOTAL INDUSTRIALS
|
25,159,720
|
||
TOTAL GERMANY
|
26,259,437
|
||
GRAND CAYMAN (UK OVERSEAS TER) - 0.0%
|
|||
Financials - 0.0%
|
|||
Capital Markets - 0.0%
|
|||
Bullish
|
15,400
|
550,242
|
|
Insurance - 0.0%
|
|||
Accelerant Holdings Class A (b)
|
30,300
|
404,807
|
|
TOTAL GRAND CAYMAN (UK OVERSEAS TER)
|
955,049
|
||
INDIA - 0.0%
|
|||
Consumer Discretionary - 0.0%
|
|||
Broadline Retail - 0.0%
|
|||
Meesho
|
29,364
|
44,867
|
|
Hotels, Restaurants & Leisure - 0.0%
|
|||
Eternal Ltd (b)
|
2,766,561
|
6,908,543
|
|
Specialty Retail - 0.0%
|
|||
Lenskart Solutions Ltd (b)
|
216,358
|
1,172,677
|
|
TOTAL CONSUMER DISCRETIONARY
|
8,126,087
|
||
Financials - 0.0%
|
|||
Banks - 0.0%
|
|||
HDFC Bank Ltd ADR
|
55,850
|
1,389,548
|
|
Health Care - 0.0%
|
|||
Health Care Providers & Services - 0.0%
|
|||
Max Healthcare Institute Ltd
|
352,100
|
3,667,071
|
|
TOTAL INDIA
|
13,182,706
|
||
ISRAEL - 0.1%
|
|||
Health Care - 0.0%
|
|||
Pharmaceuticals - 0.0%
|
|||
Teva Pharmaceutical Industries Ltd ADR (b)
|
346,243
|
10,428,839
|
|
Information Technology - 0.1%
|
|||
Semiconductors & Semiconductor Equipment - 0.1%
|
|||
Camtek Ltd/Israel (b)(e)
|
94,900
|
14,387,789
|
|
TOTAL ISRAEL
|
24,816,628
|
||
ITALY - 0.2%
|
|||
Consumer Discretionary - 0.1%
|
|||
Textiles, Apparel & Luxury Goods - 0.1%
|
|||
Brunello Cucinelli SpA (e)
|
281,226
|
24,577,512
|
|
Industrials - 0.1%
|
|||
Passenger Airlines - 0.1%
|
|||
Ryanair Holdings PLC ADR
|
418,612
|
24,195,774
|
|
Information Technology - 0.0%
|
|||
Software - 0.0%
|
|||
Bending Spoons SpA Class C (c)(d)
|
19,500
|
1,323,945
|
|
TOTAL ITALY
|
50,097,231
|
||
JAPAN - 0.5%
|
|||
Consumer Discretionary - 0.1%
|
|||
Automobiles - 0.0%
|
|||
Toyota Motor Corp
|
51,900
|
1,078,863
|
|
Broadline Retail - 0.0%
|
|||
Pan Pacific International Holdings Corp
|
219,635
|
1,339,829
|
|
Specialty Retail - 0.1%
|
|||
Fast Retailing Co Ltd
|
24,882
|
9,831,039
|
|
Textiles, Apparel & Luxury Goods - 0.0%
|
|||
Asics Corp
|
346,494
|
9,315,531
|
|
TOTAL CONSUMER DISCRETIONARY
|
21,565,262
|
||
Financials - 0.0%
|
|||
Banks - 0.0%
|
|||
Sumitomo Mitsui Financial Group Inc
|
42,600
|
1,400,702
|
|
Industrials - 0.3%
|
|||
Industrial Conglomerates - 0.1%
|
|||
Hitachi Ltd
|
1,057,752
|
31,029,674
|
|
Machinery - 0.2%
|
|||
Daifuku Co Ltd
|
541,200
|
19,109,274
|
|
Mitsubishi Heavy Industries Ltd
|
528,380
|
14,518,118
|
|
33,627,392
|
|||
Trading Companies & Distributors - 0.0%
|
|||
ITOCHU Corp
|
227,810
|
2,897,855
|
|
TOTAL INDUSTRIALS
|
67,554,921
|
||
Information Technology - 0.1%
|
|||
Semiconductors & Semiconductor Equipment - 0.1%
|
|||
Advantest Corp
|
105,873
|
14,611,180
|
|
Disco Corp
|
42,600
|
17,363,049
|
|
TOTAL INFORMATION TECHNOLOGY
|
31,974,229
|
||
TOTAL JAPAN
|
122,495,114
|
||
KOREA (SOUTH) - 0.5%
|
|||
Consumer Discretionary - 0.2%
|
|||
Automobiles - 0.2%
|
|||
Hyundai Motor Co
|
116,203
|
36,446,448
|
|
Kia Corp
|
15,610
|
1,569,128
|
|
38,015,576
|
|||
Broadline Retail - 0.0%
|
|||
Coupang Inc Class A (b)
|
928,740
|
17,534,611
|
|
TOTAL CONSUMER DISCRETIONARY
|
55,550,187
|
||
Information Technology - 0.3%
|
|||
Semiconductors & Semiconductor Equipment - 0.3%
|
|||
SK Hynix Inc
|
96,130
|
55,529,475
|
|
Technology Hardware, Storage & Peripherals - 0.0%
|
|||
Samsung Electronics Co Ltd
|
19,000
|
2,262,550
|
|
TOTAL INFORMATION TECHNOLOGY
|
57,792,025
|
||
TOTAL KOREA (SOUTH)
|
113,342,212
|
||
NETHERLANDS - 0.9%
|
|||
Communication Services - 0.0%
|
|||
Entertainment - 0.0%
|
|||
Universal Music Group NV
|
474,912
|
9,218,432
|
|
Health Care - 0.5%
|
|||
Biotechnology - 0.5%
|
|||
Argenx SE ADR (b)
|
134,732
|
98,388,043
|
|
Newamsterdam Pharma Co NV (b)
|
13,400
|
428,934
|
|
TOTAL HEALTH CARE
|
98,816,977
|
||
Information Technology - 0.4%
|
|||
Semiconductors & Semiconductor Equipment - 0.4%
|
|||
ASM International NV
|
13,600
|
10,308,158
|
|
ASML Holding NV
|
20,800
|
27,658,938
|
|
ASML Holding NV depository receipt
|
22,700
|
29,982,842
|
|
BE Semiconductor Industries NV
|
20,500
|
4,390,974
|
|
NXP Semiconductors NV
|
100,300
|
19,745,058
|
|
TOTAL INFORMATION TECHNOLOGY
|
92,085,970
|
||
TOTAL NETHERLANDS
|
200,121,379
|
||
SPAIN - 0.1%
|
|||
Financials - 0.1%
|
|||
Banks - 0.1%
|
|||
Banco Santander SA
|
1,223,130
|
13,712,167
|
|
SWEDEN - 0.0%
|
|||
Industrials - 0.0%
|
|||
Building Products - 0.0%
|
|||
Assa Abloy AB B Shares
|
28,900
|
1,044,674
|
|
Information Technology - 0.0%
|
|||
Communications Equipment - 0.0%
|
|||
Telefonaktiebolaget LM Ericsson B Shares
|
116,100
|
1,323,567
|
|
TOTAL SWEDEN
|
2,368,241
|
||
SWITZERLAND - 0.0%
|
|||
Consumer Discretionary - 0.0%
|
|||
Textiles, Apparel & Luxury Goods - 0.0%
|
|||
On Holding AG Class A (b)
|
361,125
|
12,285,473
|
|
TAIWAN - 1.4%
|
|||
Information Technology - 1.4%
|
|||
Semiconductors & Semiconductor Equipment - 1.4%
|
|||
Taiwan Semiconductor Manufacturing Co Ltd
|
134,000
|
7,760,993
|
|
Taiwan Semiconductor Manufacturing Co Ltd ADR
|
953,100
|
322,100,145
|
|
TOTAL TAIWAN
|
329,861,138
|
||
THAILAND - 0.0%
|
|||
Information Technology - 0.0%
|
|||
Electronic Equipment, Instruments & Components - 0.0%
|
|||
Fabrinet (b)
|
18,700
|
9,752,424
|
|
UNITED KINGDOM - 0.5%
|
|||
Consumer Discretionary - 0.0%
|
|||
Leisure Products - 0.0%
|
|||
Games Workshop Group PLC
|
3,982
|
941,332
|
|
Energy - 0.0%
|
|||
Energy Equipment & Services - 0.0%
|
|||
TechnipFMC PLC
|
219,440
|
15,169,887
|
|
Financials - 0.1%
|
|||
Banks - 0.1%
|
|||
Starling Bank Ltd (c)(d)
|
3,787,848
|
10,227,735
|
|
Financial Services - 0.0%
|
|||
Revolut Group Holdings Ltd (b)(c)(d)
|
6,700
|
9,330,688
|
|
TOTAL FINANCIALS
|
19,558,423
|
||
Health Care - 0.2%
|
|||
Pharmaceuticals - 0.2%
|
|||
Astrazeneca PLC
|
149,100
|
29,155,014
|
|
Astrazeneca PLC (United States)
|
32,300
|
6,370,206
|
|
TOTAL HEALTH CARE
|
35,525,220
|
||
Industrials - 0.2%
|
|||
Aerospace & Defense - 0.2%
|
|||
Rolls-Royce Holdings PLC
|
2,684,664
|
40,786,556
|
|
TOTAL UNITED KINGDOM
|
111,981,418
|
||
UNITED STATES - 81.5%
|
|||
Communication Services - 19.9%
|
|||
Entertainment - 2.9%
|
|||
Liberty Media Corp-Liberty Formula One Class C (b)
|
170,292
|
14,478,226
|
|
Live Nation Entertainment Inc (b)
|
124,326
|
18,960,958
|
|
Netflix Inc (b)
|
6,166,400
|
592,899,360
|
|
ROBLOX Corp Class A (b)
|
224,732
|
12,710,842
|
|
Spotify Technology SA (b)
|
62,800
|
30,452,348
|
|
Walt Disney Co/The
|
77,886
|
7,506,653
|
|
Warner Bros Discovery Inc (b)
|
272,914
|
7,494,218
|
|
684,502,605
|
|||
Interactive Media & Services - 16.9%
|
|||
Alphabet Inc Class A
|
6,100,960
|
1,754,392,058
|
|
Epic Games Inc (b)(c)(d)
|
23,900
|
10,689,036
|
|
Meta Platforms Inc Class A
|
3,742,616
|
2,141,262,892
|
|
Reddit Inc Class A (b)
|
142,823
|
19,231,117
|
|
Reddit Inc Class B (b)
|
87,201
|
11,741,615
|
|
Snap Inc Class A (b)
|
760,200
|
3,496,919
|
|
3,940,813,637
|
|||
Media - 0.1%
|
|||
EchoStar Corp Class A (b)
|
177,422
|
20,770,794
|
|
Omnicom Group Inc (e)
|
101,666
|
7,656,466
|
|
28,427,260
|
|||
TOTAL COMMUNICATION SERVICES
|
4,653,743,502
|
||
Consumer Discretionary - 7.7%
|
|||
Automobiles - 0.1%
|
|||
General Motors Co
|
107,893
|
8,038,029
|
|
Rad Power Bikes Inc (b)(c)(d)
|
474,452
|
4
|
|
Rad Power Bikes Inc warrants 10/6/2033 (b)(c)(d)
|
488,383
|
5
|
|
Tesla Inc (b)
|
52,897
|
19,664,460
|
|
27,702,498
|
|||
Broadline Retail - 4.5%
|
|||
Amazon.com Inc (b)
|
5,120,200
|
1,066,384,054
|
|
Diversified Consumer Services - 0.0%
|
|||
Duolingo Inc Class A (b)
|
44,100
|
4,346,936
|
|
Hotels, Restaurants & Leisure - 1.3%
|
|||
Airbnb Inc Class A (b)
|
214,207
|
27,050,060
|
|
Black Rock Coffee Bar Inc Class A
|
16,000
|
206,720
|
|
Carnival Corp
|
307,521
|
7,958,643
|
|
Cava Group Inc (b)(e)
|
160,625
|
12,994,563
|
|
DoorDash Inc Class A (b)
|
27,700
|
4,159,155
|
|
DraftKings Inc Class A (b)
|
348,100
|
7,525,922
|
|
Dutch Bros Inc Class A (b)
|
34,893
|
1,767,679
|
|
Flutter Entertainment PLC (b)
|
69,300
|
7,065,135
|
|
Hilton Worldwide Holdings Inc
|
438,065
|
133,206,805
|
|
Starbucks Corp
|
159,181
|
14,261,026
|
|
Viking Holdings Ltd (b)
|
974,789
|
71,627,496
|
|
Wynn Resorts Ltd
|
100,300
|
10,185,465
|
|
Yum! Brands Inc
|
23,100
|
3,591,588
|
|
301,600,257
|
|||
Household Durables - 0.3%
|
|||
Blu Homes Inc (b)(c)(d)
|
98,215,581
|
30,446
|
|
DR Horton Inc
|
59,675
|
8,188,604
|
|
PulteGroup Inc
|
232,524
|
27,347,148
|
|
SharkNinja Inc (b)
|
206,800
|
21,900,120
|
|
Somnigroup International Inc
|
254,842
|
18,837,921
|
|
76,304,239
|
|||
Specialty Retail - 1.4%
|
|||
Bob's Discount Furniture Inc
|
36,400
|
427,700
|
|
Dick's Sporting Goods Inc
|
400
|
79,316
|
|
Fanatics Inc Class A (b)(c)(d)
|
372,921
|
31,232,134
|
|
Home Depot Inc/The
|
107,200
|
35,257,008
|
|
O'Reilly Automotive Inc (b)
|
781,295
|
72,121,341
|
|
TJX Cos Inc/The
|
999,851
|
159,676,205
|
|
Urban Outfitters Inc (b)
|
77,379
|
4,901,960
|
|
Warby Parker Inc Class A (b)
|
747,200
|
15,743,504
|
|
319,439,168
|
|||
Textiles, Apparel & Luxury Goods - 0.1%
|
|||
Deckers Outdoor Corp (b)
|
12,100
|
1,211,089
|
|
Ralph Lauren Corp Class A
|
45,867
|
15,777,789
|
|
16,988,878
|
|||
TOTAL CONSUMER DISCRETIONARY
|
1,812,766,030
|
||
Consumer Staples - 1.6%
|
|||
Beverages - 0.6%
|
|||
Coca-Cola Co/The
|
1,446,337
|
109,993,929
|
|
Keurig Dr Pepper Inc
|
558,534
|
14,706,200
|
|
PepsiCo Inc
|
39,000
|
6,056,310
|
|
Vita Coco Co Inc/The (b)
|
232,300
|
11,129,493
|
|
141,885,932
|
|||
Consumer Staples Distribution & Retail - 0.7%
|
|||
Casey's General Stores Inc
|
47,523
|
34,590,091
|
|
Chobani Inc Class A (c)(d)(g)
|
1,177
|
5,077,884
|
|
Costco Wholesale Corp
|
50,133
|
49,954,025
|
|
Dollar Tree Inc (b)
|
332,300
|
36,390,173
|
|
Maplebear Inc (b)
|
181,600
|
6,802,736
|
|
Sprouts Farmers Market Inc (b)
|
70,200
|
5,414,526
|
|
Walmart Inc
|
107,602
|
13,372,777
|
|
151,602,212
|
|||
Food Products - 0.0%
|
|||
Once Upon a Farm PBC (b)
|
113,500
|
1,855,725
|
|
Smithfield Foods Inc
|
4,045
|
113,139
|
|
1,968,864
|
|||
Personal Care Products - 0.0%
|
|||
elf Beauty Inc (b)
|
7,400
|
448,514
|
|
Estee Lauder Cos Inc/The Class A
|
105,669
|
7,583,864
|
|
8,032,378
|
|||
Tobacco - 0.3%
|
|||
Philip Morris International Inc
|
395,915
|
65,460,586
|
|
TOTAL CONSUMER STAPLES
|
368,949,972
|
||
Energy - 2.3%
|
|||
Energy Equipment & Services - 0.0%
|
|||
WaterBridge Infrastructure LLC Class A
|
97,800
|
2,620,062
|
|
Oil, Gas & Consumable Fuels - 2.3%
|
|||
Cheniere Energy Inc
|
271,000
|
76,898,960
|
|
Chevron Corp
|
281,000
|
58,138,900
|
|
ConocoPhillips
|
754,020
|
99,530,640
|
|
Exxon Mobil Corp
|
748,100
|
126,922,646
|
|
Marathon Petroleum Corp
|
89,700
|
21,902,946
|
|
Phillips 66
|
76,200
|
13,882,116
|
|
Shell PLC ADR
|
1,279,038
|
118,950,534
|
|
Valero Energy Corp
|
105,400
|
26,042,232
|
|
542,268,974
|
|||
TOTAL ENERGY
|
544,889,036
|
||
Financials - 10.5%
|
|||
Banks - 2.8%
|
|||
Bancorp Inc/The (b)
|
273,300
|
14,684,409
|
|
Bank of America Corp
|
1,500,800
|
73,164,000
|
|
Citigroup Inc
|
663,647
|
75,264,206
|
|
JPMorgan Chase & Co
|
676,632
|
199,038,069
|
|
Pathward Financial Inc
|
121,200
|
10,814,676
|
|
Wells Fargo & Co
|
3,485,716
|
277,497,851
|
|
650,463,211
|
|||
Capital Markets - 1.1%
|
|||
Bank of New York Mellon Corp/The
|
719,539
|
85,358,912
|
|
Cboe Global Markets Inc
|
90,260
|
25,369,378
|
|
Charles Schwab Corp/The
|
245,067
|
23,031,397
|
|
Goldman Sachs Group Inc/The
|
30,914
|
26,152,935
|
|
Interactive Brokers Group Inc Class A
|
108,151
|
7,253,687
|
|
Moody's Corp
|
29,730
|
12,969,713
|
|
Morgan Stanley
|
361,323
|
59,462,926
|
|
Tulco LLC (b)(c)(d)(g)
|
17,377
|
10,263,204
|
|
249,862,152
|
|||
Consumer Finance - 0.3%
|
|||
American Express Co
|
187,751
|
56,790,922
|
|
Capital One Financial Corp
|
112,392
|
20,503,673
|
|
77,294,595
|
|||
Financial Services - 5.2%
|
|||
Apollo Global Management Inc
|
105,200
|
11,721,384
|
|
Berkshire Hathaway Inc Class A (b)
|
1,332
|
956,562,481
|
|
Mastercard Inc Class A
|
160,700
|
80,295,362
|
|
Toast Inc Class A (b)
|
1,234,083
|
32,715,540
|
|
Visa Inc Class A
|
499,226
|
150,886,066
|
|
1,232,180,833
|
|||
Insurance - 1.1%
|
|||
American Financial Group Inc/OH
|
26,200
|
3,346,002
|
|
Arthur J Gallagher & Co
|
154,034
|
33,360,684
|
|
Chubb Ltd
|
430,612
|
140,349,369
|
|
Progressive Corp/The
|
64,240
|
12,734,938
|
|
Travelers Companies Inc/The
|
263,290
|
76,796,427
|
|
266,587,420
|
|||
TOTAL FINANCIALS
|
2,476,388,211
|
||
Health Care - 6.4%
|
|||
Biotechnology - 2.3%
|
|||
AbbVie Inc
|
73,541
|
15,994,432
|
|
Alnylam Pharmaceuticals Inc (b)
|
381,380
|
126,187,201
|
|
Amgen Inc
|
6,600
|
2,322,210
|
|
Apogee Therapeutics Inc (b)
|
59,300
|
4,991,281
|
|
BeOne Medicines Ltd ADR (b)
|
88,740
|
26,353,118
|
|
Biogen Inc (b)
|
26,700
|
4,894,911
|
|
Caris Life Sciences Inc (b)
|
132,267
|
2,364,934
|
|
Celldex Therapeutics Inc (b)
|
88,600
|
2,810,392
|
|
Cytokinetics Inc (b)
|
138,684
|
9,140,662
|
|
Gilead Sciences Inc
|
1,399,176
|
195,003,159
|
|
Immunome Inc (b)
|
66,400
|
1,452,168
|
|
Immunovant Inc (b)
|
125,963
|
3,128,921
|
|
Insmed Inc (b)
|
128,419
|
20,999,075
|
|
Kiniksa Pharmaceuticals International Plc Class A (b)
|
233,400
|
11,238,210
|
|
Kymera Therapeutics Inc (b)
|
300,600
|
25,036,974
|
|
Legend Biotech Corp ADR (b)
|
1,273,371
|
23,035,281
|
|
Light Sciences Oncology Inc (b)(d)
|
2,708,254
|
27
|
|
Madrigal Pharmaceuticals Inc (b)
|
2,700
|
1,413,369
|
|
Mirum Pharmaceuticals Inc (b)
|
7,420
|
685,460
|
|
Moderna Inc (b)
|
450,300
|
22,875,240
|
|
Natera Inc (b)
|
4,400
|
879,956
|
|
Nuvalent Inc Class A (b)
|
111,900
|
11,464,155
|
|
Praxis Precision Medicines Inc (b)
|
8,500
|
2,738,615
|
|
PTC Therapeutics Inc (b)(e)
|
17,600
|
1,199,088
|
|
Roivant Sciences Ltd (b)
|
293,759
|
8,137,124
|
|
Soleno Therapeutics Inc (b)
|
314,299
|
10,522,731
|
|
United Therapeutics Corp (b)
|
7,900
|
4,684,542
|
|
Vaxcyte Inc (b)
|
214,400
|
12,458,784
|
|
552,012,020
|
|||
Health Care Equipment & Supplies - 1.1%
|
|||
Alcon AG (United States)
|
7,973
|
600,766
|
|
Artivion Inc (b)
|
292,900
|
10,725,998
|
|
Boston Scientific Corp (b)
|
893,208
|
56,048,802
|
|
Edwards Lifesciences Corp (b)
|
28,300
|
2,266,264
|
|
Glaukos Corp (b)
|
4,905
|
528,072
|
|
Globus Medical Inc Class A (b)
|
26,800
|
2,309,088
|
|
Insulet Corp (b)
|
14,486
|
3,039,742
|
|
Intuitive Surgical Inc (b)
|
103,551
|
47,735,975
|
|
iRhythm Technologies Inc (b)
|
14,900
|
1,758,498
|
|
Medline Inc Class A
|
870,715
|
38,746,818
|
|
Penumbra Inc (b)
|
27,541
|
9,043,638
|
|
ResMed Inc
|
4,700
|
1,055,056
|
|
Stryker Corp
|
36,700
|
12,059,253
|
|
TransMedics Group Inc (b)
|
614,300
|
61,067,563
|
|
246,985,533
|
|||
Health Care Providers & Services - 0.9%
|
|||
CVS Health Corp
|
253,577
|
18,211,900
|
|
Ensign Group Inc/The
|
158,900
|
32,018,350
|
|
HCA Healthcare Inc
|
104,773
|
49,582,775
|
|
LifeStance Health Group Inc (b)
|
995,500
|
6,341,335
|
|
McKesson Corp
|
46,900
|
40,585,384
|
|
Tenet Healthcare Corp (b)
|
369,957
|
69,814,585
|
|
216,554,329
|
|||
Health Care Technology - 0.0%
|
|||
Veeva Systems Inc Class A (b)
|
3,300
|
579,678
|
|
Life Sciences Tools & Services - 0.2%
|
|||
Thermo Fisher Scientific Inc
|
53,800
|
26,444,314
|
|
Veterinary Emergency Group (b)(c)(d)(g)
|
184,081
|
18,108,048
|
|
44,552,362
|
|||
Pharmaceuticals - 1.9%
|
|||
Eli Lilly & Co
|
413,603
|
380,419,631
|
|
GSK PLC
|
1,305,600
|
35,963,377
|
|
GSK PLC ADR
|
125,900
|
6,948,421
|
|
Jazz Pharmaceuticals PLC (b)
|
6,800
|
1,285,540
|
|
Johnson & Johnson
|
39,500
|
9,655,380
|
|
MBX Biosciences Inc (b)
|
63,900
|
1,907,415
|
|
Merck & Co Inc
|
2,200
|
264,638
|
|
Roche Holding AG
|
13,980
|
5,579,290
|
|
Structure Therapeutics Inc ADR (b)
|
248,100
|
11,958,420
|
|
453,982,112
|
|||
TOTAL HEALTH CARE
|
1,514,666,034
|
||
Industrials - 10.1%
|
|||
Aerospace & Defense - 4.1%
|
|||
ATI Inc (b)
|
250,379
|
36,420,129
|
|
Axon Enterprise Inc (b)
|
37,645
|
15,987,455
|
|
Beta Technologies Inc (h)
|
826,514
|
12,149,756
|
|
Beta Technologies Inc Class A (b)
|
141,100
|
2,074,170
|
|
Boeing Co (b)
|
239,200
|
47,607,976
|
|
Carpenter Technology Corp
|
122,754
|
48,383,489
|
|
FTAI Aviation Ltd
|
60,900
|
14,920,500
|
|
GE Aerospace
|
631,103
|
179,088,098
|
|
General Dynamics Corp
|
35,600
|
12,218,632
|
|
Howmet Aerospace Inc
|
638,477
|
147,143,409
|
|
Karman Holdings Inc (b)(e)
|
610,900
|
48,902,545
|
|
L3Harris Technologies Inc
|
6,900
|
2,381,535
|
|
Loar Holdings Inc (b)(e)
|
24,641
|
1,411,683
|
|
Northrop Grumman Corp
|
23,500
|
16,032,640
|
|
Relativity Space Inc (b)(c)(d)
|
5,598
|
5,934
|
|
Relativity Space Inc warrants 11/1/2030 (b)(c)(d)
|
132
|
133
|
|
Rocket Lab Corp
|
55,107
|
3,538,972
|
|
RTX Corp
|
27,700
|
5,343,330
|
|
Space Exploration Technologies Corp (b)(c)(d)
|
652,450
|
343,573,646
|
|
StandardAero Inc (b)
|
41,500
|
1,071,945
|
|
Woodward Inc
|
27,551
|
9,861,054
|
|
York Space Systems Inc (e)
|
31,000
|
687,270
|
|
948,804,301
|
|||
Air Freight & Logistics - 0.0%
|
|||
FedEx Corp
|
18,400
|
6,553,712
|
|
Zipline International Inc (b)(c)(d)
|
74,930
|
4,215,562
|
|
10,769,274
|
|||
Building Products - 0.4%
|
|||
Simpson Manufacturing Co Inc
|
3,100
|
532,022
|
|
Tecnoglass Inc
|
757,348
|
33,739,853
|
|
Trane Technologies PLC
|
125,628
|
52,354,213
|
|
86,626,088
|
|||
Commercial Services & Supplies - 0.2%
|
|||
Cintas Corp
|
7,666
|
1,296,627
|
|
Clean Harbors Inc (b)
|
5,100
|
1,462,323
|
|
GFL Environmental Inc Subordinate Voting Shares
|
1,289,025
|
53,771,922
|
|
56,530,872
|
|||
Construction & Engineering - 1.0%
|
|||
API Group Corp (b)
|
166,100
|
6,730,372
|
|
Bowman Consulting Group Ltd (b)
|
337,500
|
9,598,500
|
|
Comfort Systems USA Inc
|
2,300
|
3,171,677
|
|
Construction Partners Inc Class A (b)
|
336,800
|
37,425,216
|
|
EMCOR Group Inc
|
116,700
|
86,160,777
|
|
Legence Corp Class A
|
16,800
|
948,528
|
|
Quanta Services Inc
|
183,300
|
100,635,366
|
|
244,670,436
|
|||
Electrical Equipment - 2.3%
|
|||
Bloom Energy Corp Class A (b)
|
62,300
|
8,441,027
|
|
Eaton Corp PLC
|
182,165
|
65,154,956
|
|
Forgent Power Solutions Inc Class A
|
508,300
|
14,877,941
|
|
GE Vernova Inc
|
401,719
|
350,660,515
|
|
Nextpower Inc Class A (b)
|
690,900
|
83,287,995
|
|
nVent Electric PLC
|
11,300
|
1,336,564
|
|
Vertiv Holdings Co Class A
|
34,400
|
8,619,952
|
|
532,378,950
|
|||
Ground Transportation - 0.2%
|
|||
Old Dominion Freight Line Inc
|
265,400
|
51,859,160
|
|
Industrial Conglomerates - 0.2%
|
|||
3M Co
|
266,371
|
38,685,060
|
|
Machinery - 1.5%
|
|||
Allison Transmission Holdings Inc
|
108,506
|
12,701,712
|
|
Caterpillar Inc
|
4,200
|
2,975,532
|
|
Deere & Co
|
18,800
|
10,590,040
|
|
Ingersoll Rand Inc
|
773,300
|
61,956,796
|
|
PACCAR Inc
|
31,600
|
3,649,800
|
|
Parker-Hannifin Corp
|
191,760
|
171,671,223
|
|
RBC Bearings Inc (b)
|
25,610
|
13,909,303
|
|
Symbotic Inc Class A (b)(e)
|
115,600
|
6,149,920
|
|
Westinghouse Air Brake Technologies Corp
|
279,522
|
69,855,343
|
|
353,459,669
|
|||
Passenger Airlines - 0.0%
|
|||
Delta Air Lines Inc
|
45,300
|
3,011,544
|
|
Professional Services - 0.1%
|
|||
CACI International Inc (b)
|
3,900
|
2,121,093
|
|
KBR Inc
|
705,700
|
26,012,102
|
|
UL Solutions Inc Class A (e)
|
79,121
|
6,781,461
|
|
34,914,656
|
|||
Trading Companies & Distributors - 0.1%
|
|||
Ferguson Enterprises Inc
|
9,400
|
2,192,644
|
|
Herc Holdings Inc
|
67,500
|
6,719,625
|
|
QXO Inc (b)(e)
|
165,288
|
3,209,893
|
|
12,122,162
|
|||
TOTAL INDUSTRIALS
|
2,373,832,172
|
||
Information Technology - 20.9%
|
|||
Communications Equipment - 0.9%
|
|||
Arista Networks Inc (b)
|
1,198,530
|
147,155,513
|
|
Ciena Corp (b)
|
77,900
|
30,243,117
|
|
Cisco Systems Inc
|
14,800
|
1,148,332
|
|
Lumentum Holdings Inc (b)
|
43,000
|
30,218,680
|
|
208,765,642
|
|||
Electronic Equipment, Instruments & Components - 1.7%
|
|||
Amphenol Corp Class A
|
2,304,911
|
291,225,505
|
|
Coherent Corp (b)
|
226,664
|
53,993,631
|
|
Corning Inc
|
168,400
|
22,897,348
|
|
Jabil Inc
|
31,400
|
8,340,782
|
|
Keysight Technologies Inc (b)
|
4,300
|
1,214,191
|
|
Mirion Technologies Inc Class A (b)
|
266,320
|
4,950,889
|
|
OSI Systems Inc (b)
|
68,300
|
18,134,333
|
|
Sanmina Corp (b)
|
9,100
|
1,179,724
|
|
TD SYNNEX Corp
|
7,400
|
1,248,454
|
|
403,184,857
|
|||
IT Services - 0.2%
|
|||
Accenture PLC Class A
|
6,000
|
1,189,740
|
|
Asac II LP (b)(c)(d)
|
9,408,021
|
1,877,653
|
|
Cloudflare Inc Class A (b)
|
101,658
|
20,976,112
|
|
Snowflake Inc (b)
|
67,716
|
10,212,927
|
|
Twilio Inc Class A (b)
|
64,300
|
8,090,226
|
|
42,346,658
|
|||
Semiconductors & Semiconductor Equipment - 12.2%
|
|||
Advanced Micro Devices Inc (b)
|
98,700
|
20,078,541
|
|
Analog Devices Inc
|
72,915
|
23,197,178
|
|
Applied Materials Inc
|
47,100
|
16,098,309
|
|
ARM Holdings PLC ADR (b)
|
63,679
|
9,633,359
|
|
Astera Labs Inc (b)
|
177,200
|
19,421,120
|
|
Broadcom Inc
|
717,499
|
222,073,115
|
|
Intel Corp (b)
|
279,474
|
12,333,188
|
|
KLA Corp
|
17,624
|
25,949,754
|
|
Lam Research Corp
|
298,200
|
63,713,412
|
|
MACOM Technology Solutions Holdings Inc (b)
|
77,900
|
17,299,253
|
|
Marvell Technology Inc
|
502,368
|
49,759,550
|
|
Micron Technology Inc
|
336,051
|
113,531,470
|
|
Monolithic Power Systems Inc
|
24,116
|
26,367,229
|
|
NVIDIA Corp
|
12,791,160
|
2,230,778,305
|
|
Rambus Inc (b)
|
22,500
|
1,935,675
|
|
SiTime Corp (b)
|
12,440
|
4,296,154
|
|
Teradyne Inc
|
3,800
|
1,126,548
|
|
2,857,592,160
|
|||
Software - 4.7%
|
|||
Applied Intuition Inc Class A (b)(c)(d)
|
44,267
|
4,193,856
|
|
Autodesk Inc (b)
|
77,100
|
18,457,740
|
|
BitMine Immersion Technologies Inc (e)
|
167,600
|
3,315,128
|
|
Cadence Design Systems Inc (b)
|
241,574
|
67,126,167
|
|
Canva Inc Class A (b)(c)(d)
|
19,950
|
26,868,461
|
|
Circle Internet Group Inc Class A
|
120,701
|
11,516,082
|
|
Figma Inc Class A (e)
|
768,400
|
16,243,976
|
|
Fortinet Inc (b)
|
26,973
|
2,204,234
|
|
Guidewire Software Inc (b)
|
11,500
|
1,719,940
|
|
JFrog Ltd (b)
|
100,100
|
4,697,693
|
|
Magic Leap Inc Class A (b)(c)(d)
|
30,863
|
0
|
|
Magic Leap Inc warrants (b)(c)(d)
|
46,794
|
0
|
|
Microsoft Corp
|
2,246,935
|
831,747,929
|
|
OpenAI Group Pbc Class A (c)(d)
|
7,600
|
5,226,444
|
|
Palantir Technologies Inc Class A (b)
|
42,611
|
6,233,137
|
|
Palo Alto Networks Inc (b)
|
103,419
|
16,580,134
|
|
Riot Platforms Inc (b)
|
1,197,100
|
14,796,156
|
|
Roper Technologies Inc
|
17,400
|
6,157,164
|
|
Rubrik Inc Class A (b)
|
97,500
|
4,774,575
|
|
Samsara Inc Class A (b)
|
544,680
|
17,260,909
|
|
ServiceTitan Inc Class A (b)
|
3,900
|
247,494
|
|
Stripe LLC Class B (b)(c)(d)
|
83,200
|
5,241,600
|
|
Synopsys Inc (b)
|
28,100
|
11,141,088
|
|
Tanium Inc Class B (b)(c)(d)
|
1,259,978
|
9,764,830
|
|
Via Transportation Inc Class A (b)(e)
|
24,300
|
364,500
|
|
Zoom Communications Inc Class A (b)
|
84,516
|
6,794,241
|
|
1,092,673,478
|
|||
Technology Hardware, Storage & Peripherals - 1.2%
|
|||
Apple Inc
|
797,297
|
202,346,006
|
|
Dell Technologies Inc Class C
|
105,125
|
17,254,166
|
|
GPGI Inc Class A
|
179,575
|
3,070,732
|
|
Seagate Technology Holdings PLC
|
88,100
|
34,514,056
|
|
Western Digital Corp
|
116,000
|
31,376,840
|
|
288,561,800
|
|||
TOTAL INFORMATION TECHNOLOGY
|
4,893,124,595
|
||
Materials - 0.5%
|
|||
Chemicals - 0.3%
|
|||
CF Industries Holdings Inc
|
21,200
|
2,752,608
|
|
Corteva Inc
|
897,600
|
75,138,096
|
|
Ecolab Inc
|
3,545
|
943,041
|
|
78,833,745
|
|||
Construction Materials - 0.1%
|
|||
CRH PLC
|
29,100
|
3,058,991
|
|
James Hardie Industries PLC (b)
|
579,200
|
10,970,048
|
|
Martin Marietta Materials Inc
|
10,360
|
6,098,725
|
|
20,127,764
|
|||
Metals & Mining - 0.1%
|
|||
Ivanhoe Electric Inc / US (b)
|
686,341
|
8,112,551
|
|
MP Materials Corp (b)
|
108,766
|
5,249,047
|
|
Newmont Corp
|
19,800
|
2,143,350
|
|
Steel Dynamics Inc
|
38,953
|
7,011,540
|
|
22,516,488
|
|||
TOTAL MATERIALS
|
121,477,997
|
||
Real Estate - 0.5%
|
|||
Health Care REITs - 0.4%
|
|||
Welltower Inc
|
534,400
|
105,656,224
|
|
Industrial REITs - 0.0%
|
|||
Prologis Inc
|
9,200
|
1,216,056
|
|
Real Estate Management & Development - 0.1%
|
|||
CBRE Group Inc Class A (b)
|
85,000
|
11,514,100
|
|
Compass Inc Class A (b)
|
588,500
|
4,301,935
|
|
15,816,035
|
|||
Specialized REITs - 0.0%
|
|||
Fermi Inc (e)
|
69,243
|
404,379
|
|
TOTAL REAL ESTATE
|
123,092,694
|
||
Utilities - 1.1%
|
|||
Electric Utilities - 0.9%
|
|||
American Electric Power Co Inc
|
117,875
|
15,451,055
|
|
Constellation Energy Corp
|
435,088
|
121,498,324
|
|
Entergy Corp
|
326,867
|
36,726,776
|
|
NRG Energy Inc
|
304,698
|
44,528,566
|
|
218,204,721
|
|||
Independent Power and Renewable Electricity Producers - 0.2%
|
|||
Vistra Corp
|
275,574
|
41,427,039
|
|
TOTAL UTILITIES
|
259,631,760
|
||
TOTAL UNITED STATES
|
19,142,562,003
|
||
URUGUAY - 0.0%
|
|||
Financials - 0.0%
|
|||
Financial Services - 0.0%
|
|||
Dlocal Ltd/Uruguay Class A
|
93,400
|
1,211,397
|
|
ZAMBIA - 0.1%
|
|||
Materials - 0.1%
|
|||
Metals & Mining - 0.1%
|
|||
First Quantum Minerals Ltd (b)
|
661,500
|
15,815,894
|
|
|
TOTAL COMMON STOCKS
(Cost $8,047,260,333)
|
21,389,235,757
|
||
Convertible Corporate Bonds - 0.0%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 0.0%
|
|||
Financials - 0.0%
|
|||
Financial Services - 0.0%
|
|||
Tenstorrent Holdings Inc 15% 12/31/2026 (c)(d)
(Cost $464,400)
|
464,400
|
462,357
|
|
Convertible Preferred Stocks - 6.9%
|
|||
Shares
|
Value ($)
|
||
CHINA - 0.2%
|
|||
Communication Services - 0.2%
|
|||
Interactive Media & Services - 0.2%
|
|||
Bytedance Ltd Series E1 (b)(c)(d)
|
130,945
|
35,444,193
|
|
FINLAND - 0.0%
|
|||
Health Care - 0.0%
|
|||
Health Care Technology - 0.0%
|
|||
Oura Health Oy Series E (c)(d)
|
173,567
|
10,247,395
|
|
UNITED STATES - 6.7%
|
|||
Consumer Discretionary - 0.0%
|
|||
Automobiles - 0.0%
|
|||
Rad Power Bikes Inc Series A (b)(c)(d)
|
61,855
|
0
|
|
Rad Power Bikes Inc Series C (b)(c)(d)
|
243,394
|
2
|
|
Rad Power Bikes Inc Series D (b)(c)(d)
|
411,659
|
4
|
|
6
|
|||
Hotels, Restaurants & Leisure - 0.0%
|
|||
Discord Inc Series I (b)(c)(d)
|
28,000
|
623,840
|
|
TOTAL CONSUMER DISCRETIONARY
|
623,846
|
||
Consumer Staples - 0.0%
|
|||
Consumer Staples Distribution & Retail - 0.0%
|
|||
GoBrands Inc Series G (b)(c)(d)
|
8,102
|
275,792
|
|
GoBrands Inc Series H (b)(c)(d)
|
10,223
|
448,074
|
|
TOTAL CONSUMER STAPLES
|
723,866
|
||
Financials - 0.0%
|
|||
Financial Services - 0.0%
|
|||
Akeana Series C (b)(c)(d)
|
125,700
|
1,551,138
|
|
Tenstorrent Holdings Inc Series C1 (b)(c)(d)
|
70,912
|
4,307,195
|
|
TOTAL FINANCIALS
|
5,858,333
|
||
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
ElevateBio LLC Series C (b)(c)(d)
|
594,600
|
1,094,064
|
|
Intarcia Therapeutics Inc (b)(c)(d)
|
516,522
|
5
|
|
Kardigan Inc Series B (c)(d)
|
67,755
|
1,447,247
|
|
2,541,316
|
|||
Health Care Providers & Services - 0.0%
|
|||
Lyra Health Inc Series E (b)(c)(d)
|
270,000
|
2,195,100
|
|
Lyra Health Inc Series F (b)(c)(d)
|
10,070
|
81,869
|
|
Somatus Inc Series E (b)(c)(d)
|
2,206
|
2,830,629
|
|
5,107,598
|
|||
TOTAL HEALTH CARE
|
7,648,914
|
||
Industrials - 5.9%
|
|||
Aerospace & Defense - 5.7%
|
|||
Space Exploration Technologies Corp Series G (b)(c)(d)
|
145,254
|
764,893,039
|
|
Space Exploration Technologies Corp Series H (b)(c)(d)
|
42,094
|
221,662,795
|
|
Space Exploration Technologies Corp Series N (b)(c)(d)
|
66,208
|
348,644,707
|
|
1,335,200,541
|
|||
Air Freight & Logistics - 0.2%
|
|||
Zipline International Inc Series E (b)(c)(d)
|
208,789
|
11,746,469
|
|
Zipline International Inc Series F (b)(c)(d)
|
79,020
|
4,445,665
|
|
Zipline International Inc Series G (b)(c)(d)
|
182,718
|
10,279,715
|
|
Zipline International Inc Series H (c)(d)
|
166,882
|
9,388,781
|
|
35,860,630
|
|||
TOTAL INDUSTRIALS
|
1,371,061,171
|
||
Information Technology - 0.8%
|
|||
Electronic Equipment, Instruments & Components - 0.2%
|
|||
Cerebras Systems Inc Series G (c)(d)
|
577,700
|
51,426,854
|
|
Software - 0.6%
|
|||
Anthropic PBC Series E (b)(c)(d)
|
18,000
|
4,664,520
|
|
Anthropic PBC Series F (c)(d)
|
90,300
|
23,400,342
|
|
Applied Intuition Inc Series A2 (b)(c)(d)
|
55,889
|
5,294,924
|
|
Applied Intuition Inc Series B2 (b)(c)(d)
|
26,948
|
2,553,053
|
|
Canva Inc Series A2 (b)(c)(d)
|
368
|
495,619
|
|
Canvas Inc Series A (b)(c)(d)
|
2,032
|
2,736,677
|
|
Databricks Inc Series L (c)(d)
|
52,700
|
8,700,770
|
|
Magic Leap Inc Series AA (b)(c)(d)
|
325,855
|
3
|
|
MOLOCO Inc Series A (b)(c)(d)
|
39,638
|
2,796,857
|
|
Nuro Inc/DE Series C (b)(c)(d)
|
491,080
|
5,372,415
|
|
Nuro Inc/DE Series D (b)(c)(d)
|
94,265
|
1,193,395
|
|
OpenAI Group Pbc Series A-2 (c)(d)
|
48,841
|
33,587,468
|
|
OpenAI Group Pbc Series A-3 (c)(d)
|
10,483
|
7,209,055
|
|
Stripe LLC Series H (b)(c)(d)
|
34,900
|
2,198,700
|
|
Stripe LLC Series I (b)(c)(d)
|
611,900
|
38,549,700
|
|
138,753,498
|
|||
TOTAL INFORMATION TECHNOLOGY
|
190,180,352
|
||
TOTAL UNITED STATES
|
1,576,096,482
|
||
|
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $214,490,686)
|
1,621,788,070
|
||
Preferred Securities - 0.0%
|
|||
Principal
Amount (a)
|
Value ($)
|
||
UNITED STATES - 0.0%
|
|||
Consumer Discretionary - 0.0%
|
|||
Automobiles - 0.0%
|
|||
Rad Power Bikes Inc 8% 12/31/2199 (c)(d)
|
488,383
|
113,658
|
|
Health Care - 0.0%
|
|||
Biotechnology - 0.0%
|
|||
Intarcia Therapeutics Inc 6% (c)(d)(i)(j)
|
2,280,387
|
0
|
|
TOTAL UNITED STATES
|
113,658
|
||
|
TOTAL PREFERRED SECURITIES
(Cost $2,768,770)
|
113,658
|
||
Money Market Funds - 2.4%
|
||||
Yield (%)
|
Shares
|
Value ($)
|
||
Fidelity Cash Central Fund (k)
|
3.69
|
470,971,135
|
471,065,330
|
|
Fidelity Securities Lending Cash Central Fund (k)(l)
|
3.69
|
95,630,304
|
95,639,867
|
|
|
TOTAL MONEY MARKET FUNDS
(Cost $566,705,132)
|
566,705,197
|
|||
|
TOTAL INVESTMENT IN SECURITIES - 100.4%
(Cost $8,831,689,321)
|
23,578,305,039
|
NET OTHER ASSETS (LIABILITIES) - (0.4)%
|
(87,443,709)
|
NET ASSETS - 100.0%
|
23,490,861,330
|
(a)
|
Amount is stated in United States dollars unless otherwise noted.
|
(b)
|
Non-income producing.
|
(c)
|
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $2,119,764,022 or 9.0% of net assets.
|
(d)
|
Level 3 security.
|
(e)
|
Security or a portion of the security is on loan at period end.
|
(f)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,743 or 0.0% of net assets.
|
(g)
|
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
|
(h)
|
Security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. At the end of the period, the total value of unadjusted equity securities subject to contractual sale restrictions is $12,149,756 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.
|
(i)
|
Security is perpetual in nature with no stated maturity date.
|
(j)
|
Non-income producing - Security is in default.
|
(k)
|
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|
(l)
|
Investment made with cash collateral received from securities on loan.
|
Additional information on each restricted holding is as follows:
|
||
Security
|
Acquisition Date
|
Acquisition Cost ($)
|
Akeana Series C
|
1/23/2024
|
1,604,033
|
Anthropic PBC Series E
|
2/14/2025
|
1,009,557
|
Anthropic PBC Series F
|
8/18/2025
|
12,729,375
|
Applied Intuition Inc Class A
|
7/2/2024 - 6/16/2025
|
2,744,672
|
Applied Intuition Inc Series A2
|
7/2/2024
|
3,336,288
|
Applied Intuition Inc Series B2
|
7/2/2024
|
1,608,658
|
Asac II LP
|
10/10/2013
|
724,511
|
Bending Spoons SpA Class C
|
10/9/2025
|
1,720,480
|
Blu Homes Inc
|
5/21/2020
|
169,873
|
Bytedance Ltd Series E1
|
11/18/2020
|
14,348,191
|
Canva Inc Class A
|
3/18/2024 - 11/12/2025
|
25,915,720
|
Canva Inc Series A2
|
9/22/2023
|
392,531
|
Canvas Inc Series A
|
9/22/2023
|
2,167,455
|
Cerebras Systems Inc Series G
|
9/19/2025
|
20,931,457
|
Chobani Inc Class A
|
10/14/2025
|
5,221,728
|
Databricks Inc Series L
|
12/18/2025
|
10,013,000
|
Discord Inc Series I
|
9/15/2021
|
1,541,748
|
ElevateBio LLC Series C
|
3/9/2021
|
2,494,347
|
Epic Games Inc
|
7/13/2020 - 7/30/2020
|
13,742,500
|
Fanatics Inc Class A
|
8/13/2020 - 12/15/2021
|
12,263,632
|
GoBrands Inc Series G
|
3/2/2021
|
2,023,210
|
GoBrands Inc Series H
|
7/22/2021
|
3,971,539
|
I-Pulse Inc
|
3/18/2010
|
30,496
|
I-Pulse Inc
|
3/18/2010
|
50,101
|
Intarcia Therapeutics Inc
|
11/14/2012
|
7,040,195
|
Intarcia Therapeutics Inc 6%
|
1/3/2020
|
2,280,387
|
Kardigan Inc Series B
|
10/9/2025
|
1,447,591
|
Lyra Health Inc Series E
|
1/14/2021
|
2,472,282
|
Lyra Health Inc Series F
|
6/4/2021
|
158,143
|
Magic Leap Inc Class A
|
10/6/2017
|
14,999,526
|
Magic Leap Inc Series AA
|
7/7/2020
|
5,624,300
|
Magic Leap Inc warrants
|
7/7/2020
|
0
|
MOLOCO Inc Series A
|
6/26/2023
|
2,378,280
|
Nuro Inc/DE Series C
|
10/30/2020
|
6,410,853
|
Nuro Inc/DE Series D
|
10/29/2021
|
1,965,022
|
OpenAI Group Pbc Class A
|
9/3/2025
|
3,268,000
|
OpenAI Group Pbc Series A-2
|
9/30/2024
|
9,175,218
|
OpenAI Group Pbc Series A-3
|
8/4/2025
|
3,217,100
|
Oura Health Oy Series E
|
9/24/2025
|
9,297,984
|
Rad Power Bikes Inc
|
1/21/2021
|
2,288,681
|
Rad Power Bikes Inc 8% 12/31/2199
|
10/6/2023
|
488,383
|
Rad Power Bikes Inc Series A
|
1/21/2021
|
298,378
|
Rad Power Bikes Inc Series C
|
1/21/2021
|
1,174,094
|
Rad Power Bikes Inc Series D
|
9/17/2021
|
3,945,258
|
Rad Power Bikes Inc warrants 10/6/2033
|
10/6/2023
|
0
|
Relativity Space Inc
|
5/27/2021 - 11/14/2023
|
9,186,659
|
Relativity Space Inc warrants 11/1/2030
|
11/14/2023 - 3/24/2025
|
0
|
Revolut Group Holdings Ltd
|
1/28/2026
|
9,447,639
|
Somatus Inc Series E
|
1/31/2022
|
1,925,033
|
Space Exploration Technologies Corp
|
10/16/2015 - 12/19/2025
|
24,127,794
|
Space Exploration Technologies Corp Series G
|
1/20/2015
|
11,251,375
|
Space Exploration Technologies Corp Series H
|
8/4/2017
|
5,682,690
|
Space Exploration Technologies Corp Series N
|
8/4/2020
|
17,876,160
|
Starling Bank Ltd
|
6/18/2021 - 4/5/2022
|
7,251,743
|
Stripe LLC Class B
|
5/18/2021
|
3,338,681
|
Stripe LLC Series H
|
3/15/2021
|
1,400,363
|
Stripe LLC Series I
|
3/20/2023 - 5/12/2023
|
12,320,080
|
Tanium Inc Class B
|
4/21/2017 - 9/18/2020
|
9,906,875
|
Tenstorrent Holdings Inc 15% 12/31/2026
|
2/25/2026
|
464,400
|
Tenstorrent Holdings Inc Series C1
|
4/23/2021
|
4,216,027
|
Tulco LLC
|
8/24/2017
|
5,866,668
|
Veterinary Emergency Group
|
9/16/2021 - 11/13/2023
|
7,007,855
|
Zipline International Inc
|
10/12/2021
|
2,697,480
|
Zipline International Inc Series E
|
12/21/2020
|
6,812,660
|
Zipline International Inc Series F
|
4/11/2023
|
3,176,375
|
Zipline International Inc Series G
|
6/7/2024
|
7,664,344
|
Zipline International Inc Series H
|
12/3/2025
|
9,389,492
|
Additional information on each lock-up restriction is as follows:
|
|
Security
|
Restriction Expiration Date
|
Beta Technologies Inc
|
5/4/2026
|
Affiliate
|
Value,
beginning
of period ($)
|
Purchases ($)
|
Sales
Proceeds ($)
|
Dividend
Income ($)
|
Realized
Gain (loss) ($)
|
Change in
Unrealized
appreciation
(depreciation) ($)
|
Value,
end
of period ($)
|
Shares,
end
of period
|
% ownership,
end
of period
|
Fidelity Cash Central Fund
|
274,858,756
|
1,405,639,360
|
1,209,432,786
|
3,239,540
|
(11,237)
|
11,237
|
471,065,330
|
470,971,135
|
0.7%
|
Fidelity Securities Lending Cash Central Fund
|
133,711,613
|
507,993,612
|
546,065,358
|
128,080
|
-
|
-
|
95,639,867
|
95,630,304
|
0.3%
|
Total
|
408,570,369
|
1,913,632,972
|
1,755,498,144
|
3,367,620
|
(11,237)
|
11,237
|
566,705,197
|
||