Portfolio
of
Investments
March
31,
2026
QQQX
(Unaudited)
SHARES
DESCRIPTION
VALUE
LONG-TERM
INVESTMENTS
-
100.6%
1380612383
COMMON
STOCKS
-
98
.7
%
1380612383
AUTOMOBILES
&
COMPONENTS
-
3.8%
40,233
Ford
Motor
Co
$
464,289
4,110
Lear
Corp
497,639
139,181
(a)
Tesla,
Inc
51,740,536
TOTAL
AUTOMOBILES
&
COMPONENTS
52,702,464
CAPITAL
GOODS
-
2.9%
7,468
3M
Co
1,084,578
89,008
(a)
Archer
Aviation,
Inc,
Class
A
460,171
1,460
Carpenter
Technology
Corp
575,459
9,138
Caterpillar,
Inc
6,473,907
3,812
(a),(b)
Enovix
Corp
19,746
7,764
Fortive
Corp
429,194
12,364
GE
Vernova,
Inc
10,792,536
30,184
General
Electric
Co
8,565,314
584
HEICO
Corp
160,133
2,990
Howmet
Aerospace,
Inc
689,075
10,196
(a),(b)
Intuitive
Machines,
Inc
189,238
19,436
(a)
NuScale
Power
Corp
210,686
123,983
(a)
Plug
Power,
Inc
280,202
20,293
(a)
Red
Cat
Holdings,
Inc
265,635
25,688
(a)
Redwire
Corp
218,348
38,265
(a),(b)
Richtech
Robotics,
Inc,
Class
B
79,974
10,300
(a)
Rocket
Lab
Corp
661,466
7,632
Rockwell
Automation,
Inc
2,738,972
116
TransDigm
Group,
Inc
134,439
4,996
United
Rentals,
Inc
3,639,886
5,734
Vertiv
Holdings
Co,
Class
A
1,436,826
1,390
WW
Grainger,
Inc
1,516,226
TOTAL
CAPITAL
GOODS
40,622,011
COMMERCIAL
&
PROFESSIONAL
SERVICES
-
0.4%
9,256
(a),(b)
BlackSky
Technology,
Inc
232,881
2,933
Booz
Allen
Hamilton
Holding
Corp
228,862
11,688
(a)
Planet
Labs
PBC
326,679
19,119
Robert
Half,
Inc
485,623
21,890
TETRA
Tech,
Inc
659,327
9,596
Veralto
Corp
848,478
7,562
Waste
Connections,
Inc
1,228,371
9,915
Waste
Management,
Inc
2,278,368
TOTAL
COMMERCIAL
&
PROFESSIONAL
SERVICES
6,288,589
CONSUMER
DISCRETIONARY
DISTRIBUTION
&
RETAIL
-
6.5%
319,017
(a),(c)
Amazon.com,
Inc
66,441,671
940
(a)
AutoZone,
Inc
3,175,113
1,817
(a)
Burlington
Stores,
Inc
591,216
1,711
(a)
Carvana
Co
537,904
52,348
(a)
Coupang,
Inc
988,330
8,039
Dick's
Sporting
Goods,
Inc
1,594,053
16,562
eBay,
Inc
1,507,473
4,795
(a)
MercadoLibre,
Inc
8,290,651
14,611
(a)
Ollie's
Bargain
Outlet
Holdings,
Inc
1,344,796
7,621
Pool
Corp
1,541,957
181
(a)
Savers
Value
Village,
Inc
1,347
22,853
TJX
Cos,
Inc
3,649,624
7,355
Tractor
Supply
Co
333,182
6,382
Williams-Sonoma,
Inc
1,163,630
TOTAL
CONSUMER
DISCRETIONARY
DISTRIBUTION
&
RETAIL
91,160,947
CONSUMER
DURABLES
&
APPAREL
-
0.1%
16,176
(a)
Deckers
Outdoor
Corp
1,619,056
TOTAL
CONSUMER
DURABLES
&
APPAREL
1,619,056
Portfolio
of
Investments
March
31,
2026
(continued)
QQQX
SHARES
DESCRIPTION
VALUE
CONSUMER
SERVICES
-
2.9%
6,160
Booking
Holdings,
Inc
$
25,935,571
87,000
(a)
Chipotle
Mexican
Grill,
Inc
2,784,870
10,528
Darden
Restaurants,
Inc
2,063,909
297
Domino's
Pizza,
Inc
106,560
26,996
Hilton
Worldwide
Holdings,
Inc
8,208,944
27,123
(a),(b)
Serve
Robotics,
Inc
228,918
10,345
Service
Corp
International
853,566
25,026
(a)
Sweetgreen,
Inc,
Class
A
129,885
1,912
Wingstop,
Inc
296,303
TOTAL
CONSUMER
SERVICES
40,608,526
CONSUMER
STAPLES
DISTRIBUTION
&
RETAIL
-
2.9%
25,248
(a)
BJ's
Wholesale
Club
Holdings,
Inc
2,484,908
2,618
Casey's
General
Stores,
Inc
1,905,538
1,615
Dollar
General
Corp
191,749
145,319
(a)
HF
Foods
Group,
Inc
268,840
35,707
Kroger
Co
2,583,759
27,218
(a)
Maplebear,
Inc
1,019,586
22,357
(a)
Performance
Food
Group
Co
1,915,101
25,877
(a)
Sprouts
Farmers
Market,
Inc
1,995,893
8,486
Sysco
Corp
605,306
10,413
Target
Corp
1,262,056
46,686
(a)
US
Foods
Holding
Corp
4,304,916
179,119
Walmart,
Inc
22,260,909
TOTAL
CONSUMER
STAPLES
DISTRIBUTION
&
RETAIL
40,798,561
ENERGY
-
0.6%
803
(a)
Centrus
Energy
Corp,
Class
A
139,393
4,902
(a)
Clean
Energy
Fuels
Corp
12,157
23,925
(a)
Energy
Fuels,
Inc
436,631
15,890
EQT
Corp
1,011,240
7,568
Exxon
Mobil
Corp
1,283,987
36,559
(a)
Sable
Offshore
Corp
603,955
5,484
Select
Water
Solutions,
Inc
83,905
1,999
Solaris
Energy
Infrastructure,
Inc
112,963
53,009
TechnipFMC
plc
3,664,512
1,269
Texas
Pacific
Land
Corp
602,217
15,225
(a)
Uranium
Energy
Corp
205,537
TOTAL
ENERGY
8,156,497
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
-
0.1%
4,108
Americold
Realty
Trust,
Inc
47,078
55,254
CubeSmart
2,025,059
TOTAL
EQUITY
REAL
ESTATE
INVESTMENT
TRUSTS
(REITS)
2,072,137
FINANCIAL
SERVICES
-
2.2%
5,861
(a)
Berkshire
Hathaway,
Inc,
Class
B
2,808,591
666
(a)
Coinbase
Global,
Inc,
Class
A
116,290
11,527
Jack
Henry
&
Associates,
Inc
1,821,727
8,130
Mastercard,
Inc,
Class
A
4,062,236
8,682
Moody's
Corp
3,787,523
19,418
Morgan
Stanley
3,195,620
143,943
PayPal
Holdings,
Inc
6,510,542
9,170
(a)
Robinhood
Markets,
Inc,
Class
A
635,481
8,050
(a)
Rocket
Cos,
Inc,
Class
A
114,713
3,079
S&P
Global,
Inc
1,309,622
11,343
SEI
Investments
Co
890,085
11,700
(a)
Toast,
Inc,
Class
A
310,167
17,825
Visa,
Inc,
Class
A
5,387,428
TOTAL
FINANCIAL
SERVICES
30,950,025
FOOD,
BEVERAGE
&
TOBACCO
-
2.0%
77,465
(a),(b)
Beyond
Meat,
Inc
54,350
70,834
(a)
Bridgford
Foods
Corp
527,713
49,597
Brown-Forman
Corp,
Class
B
1,311,345
10,507
Cal-Maine
Foods,
Inc
831,629
SHARES
DESCRIPTION
VALUE
FOOD,
BEVERAGE
&
TOBACCO
(continued)
17,322
Campbell's
Company
$
385,761
42,479
(a)
Celsius
Holdings,
Inc
1,507,155
1,900
Coca-Cola
Consolidated,
Inc
364,306
12,785
ConAgra
Brands,
Inc
200,980
4,472
Constellation
Brands,
Inc,
Class
A
670,800
42,135
(a)
Freshpet,
Inc
2,484,280
8,015
Hershey
Co
1,666,238
242,394
(a)
Monster
Beverage
Corp
17,563,869
16,394
(a)
Vital
Farms,
Inc
231,483
TOTAL
FOOD,
BEVERAGE
&
TOBACCO
27,799,909
HEALTH
CARE
EQUIPMENT
&
SERVICES
-
1.4%
26,882
Abbott
Laboratories
2,759,975
4,477
(a)
agilon
health,
Inc
35,413
2,837
Becton
Dickinson
&
Co
446,062
50,911
(a)
Boston
Scientific
Corp
3,194,665
72,609
(a)
Butterfly
Network,
Inc
293,340
9,791
Cardinal
Health,
Inc
2,068,936
845
Cencora,
Inc
265,448
768
Embecta
Corp
6,789
17,206
(a)
Hims
&
Hers
Health,
Inc
357,197
17,865
(a),(b)
LENSAR,
Inc
106,475
4,308
McKesson
Corp
3,727,971
313
(a)
Novocure
Ltd
3,412
5,045
(a)
STAAR
Surgical
Co
94,342
19,914
Stryker
Corp
6,543,541
5,222
(a)
Tandem
Diabetes
Care,
Inc
100,106
695
(a)
TransMedics
Group,
Inc
69,090
1
(a)
Venus
Concept,
Inc
0
TOTAL
HEALTH
CARE
EQUIPMENT
&
SERVICES
20,072,762
HOUSEHOLD
&
PERSONAL
PRODUCTS
-
0.1%
51,011
Kenvue,
Inc
879,430
TOTAL
HOUSEHOLD
&
PERSONAL
PRODUCTS
879,430
INSURANCE
-
0.1%
10,152
(a)
Lemonade,
Inc
636,327
1,077
Progressive
Corp
213,505
TOTAL
INSURANCE
849,832
MATERIALS
-
0.6%
38,281
(a),(b)
American
Battery
Technology
Co
106,804
3,136
AngloGold
Ashanti
PLC
305,321
4,212
Ball
Corp
248,971
13,576
CF
Industries
Holdings,
Inc
1,762,708
6,845
(a)
comScore,
Inc
47,504
42,973
(a),(b)
Critical
Metals
Corp
341,206
20,612
Hecla
Mining
Co
384,001
11,822
(a)
MP
Materials
Corp
570,530
13,243
Newmont
Corp
1,433,555
47,721
(a)
NioCorp
Developments
Ltd
212,836
51,256
(a),(b)
PureCycle
Technologies,
Inc
266,019
3,839
Sherwin-Williams
Co
1,230,591
110,579
Tronox
Holdings
plc
1,080,357
TOTAL
MATERIALS
7,990,403
MEDIA
&
ENTERTAINMENT
-
14.0%
234,577
(c)
Alphabet,
Inc,
Class
A
67,454,962
166,170
(c)
Alphabet,
Inc,
Class
C
47,667,526
415
(a)
AMC
Entertainment
Holdings,
Inc,
Class
A
407
9,901
Cinemark
Holdings,
Inc
282,376
521,346
Comcast
Corp,
Class
A
14,967,844
6,058
(a)
EchoStar
Corp,
Class
A
709,210
37,076
Fox
Corp,
Class
A
2,165,238
12,565
(a)
Liberty
Media
Corp-Liberty
Formula
One,
Class
C
1,068,276
12,499
(a)
Live
Nation
Entertainment,
Inc
1,906,222
Portfolio
of
Investments
March
31,
2026
(continued)
QQQX
SHARES
DESCRIPTION
VALUE
MEDIA
&
ENTERTAINMENT
(continued)
37,991
Match
Group,
Inc
$
1,166,704
78,458
Meta
Platforms,
Inc
44,888,176
25,957
New
York
Times
Co,
Class
A
2,173,380
6,270
News
Corp,
Class
B
178,758
34,128
Omnicom
Group,
Inc
2,570,180
80,688
Paramount
Skydance
Corp
727,806
2,330
(a)
Reddit,
Inc,
Class
A
313,734
21,177
(a)
ROBLOX
Corp,
Class
A
1,197,771
7,680
(a)
Roku,
Inc
726,682
14,585
(a),(b)
Rumble,
Inc
74,383
42,393
Saga
Communications,
Inc,
Class
A
495,998
6,037
(a)
Spotify
Technology
S.A.
2,927,402
9,491
TKO
Group
Holdings,
Inc
1,913,860
20,853
(a)
Versant
Media
Group,
Inc
771,978
TOTAL
MEDIA
&
ENTERTAINMENT
196,348,873
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
-
4.5%
12,612
Agilent
Technologies,
Inc
1,437,516
66,016
(c)
Amgen,
Inc
23,227,730
803
(a)
Arcus
Biosciences,
Inc
17,345
284
(a)
Arvinas,
Inc
3,010
2,642
(a)
Capricor
Therapeutics,
Inc
80,317
4,646
(a)
Charles
River
Laboratories
International,
Inc
801,435
16,193
Danaher
Corp
3,070,193
2,706
Eli
Lilly
&
Co
2,488,898
5,556
(a)
Exelixis,
Inc
238,297
172,825
Gilead
Sciences,
Inc
24,086,620
11,370
(a),(b)
Humacyte,
Inc
6,898
13,603
(a)
Insmed,
Inc
2,224,363
1,618
(a)
Madrigal
Pharmaceuticals,
Inc
846,974
632
(a)
Natera,
Inc
126,394
5,971
(a),(b)
Olema
Pharmaceuticals,
Inc
89,028
113,549
(a),(b)
Recursion
Pharmaceuticals,
Inc,
Class
A
348,595
6,244
(a)
Revolution
Medicines,
Inc
607,229
7,842
(a)
Tarsus
Pharmaceuticals,
Inc
550,116
40,864
(a)
Vaxcyte,
Inc
2,374,607
383
(a)
Waters
Corp
114,057
TOTAL
PHARMACEUTICALS,
BIOTECHNOLOGY
&
LIFE
SCIENCES
62,739,622
SEMICONDUCTORS
&
SEMICONDUCTOR
EQUIPMENT
-
26.0%
159,321
(a)
Advanced
Micro
Devices,
Inc
32,410,671
3,223
(a)
Aehr
Test
Systems
119,509
10,295
Amkor
Technology,
Inc
463,584
93,667
(c)
Analog
Devices,
Inc
29,799,219
165,056
(c)
Applied
Materials,
Inc
56,414,490
2,212
(a)
Astera
Labs,
Inc
242,435
22,644
(a),(b)
Atomera,
Inc
86,274
197,219
Broadcom,
Inc
61,041,253
16,905
(a)
Credo
Technology
Group
Holding
Ltd
1,586,872
7,479
(a)
Enphase
Energy,
Inc
282,781
7,873
Entegris,
Inc
923,031
6,091
(a)
First
Solar,
Inc
1,201,511
6,866
(a)
Lattice
Semiconductor
Corp
636,890
13,569
(a)
MACOM
Technology
Solutions
Holdings,
Inc
3,013,268
6,123
Monolithic
Power
Systems,
Inc
6,694,582
50,196
(a)
Navitas
Semiconductor
Corp
440,219
812,732
(c)
NVIDIA
Corp
141,740,460
2,398
(a)
Onto
Innovation,
Inc
491,758
11,574
Power
Integrations,
Inc
592,589
140,959
QUALCOMM,
Inc
18,152,700
14,337
(a)
Rigetti
Computing,
Inc
201,291
13,523
(a)
Semtech
Corp
1,039,783
9,889
(a)
Silicon
Laboratories,
Inc
2,058,395
1,964
(a)
SiTime
Corp
678,267
SHARES
DESCRIPTION
VALUE
SEMICONDUCTORS
&
SEMICONDUCTOR
EQUIPMENT
(continued)
9,085
Taiwan
Semiconductor
Manufacturing
Co
Ltd,
Sponsored
ADR
$
3,070,276
TOTAL
SEMICONDUCTORS
&
SEMICONDUCTOR
EQUIPMENT
363,382,108
SOFTWARE
&
SERVICES
-
13.3%
48,868
(a)
Adobe,
Inc
11,878,833
1,868
(a)
Appfolio,
Inc,
Class
A
294,808
8,474
(a)
Applied
Digital
Corp
201,173
137,623
(a),(b)
Aurora
Innovation,
Inc
567,007
52,492
(a)
Autodesk,
Inc
12,566,585
70,744
(a),(b)
BigBear.ai
Holdings,
Inc
249,019
225,432
(a),(b)
Bit
Digital,
Inc
295,316
31,150
(a),(b)
Bitdeer
Technologies
Group,
Class
A
269,447
64,416
(a),(b)
C3.ai,
Inc,
Class
A
542,383
7,835
(a)
Cerence,
Inc
49,439
42,639
(a)
Cipher
Digital,
Inc
548,764
3,132
(a)
Circle
Internet
Group,
Inc
298,824
38,854
(a),(b)
Cleanspark,
Inc
330,648
6,940
(a)
Core
Scientific,
Inc
103,822
38,645
(a),(b)
D-Wave
Quantum,
Inc
557,647
1,335
(a)
Fair
Isaac
Corp
1,425,166
8,062
(a)
Guidewire
Software,
Inc
1,205,753
12,793
(a)
Hut
8
Corp
600,120
1,843
InterDigital,
Inc
556,586
58,417
(a)
MARA
Holdings,
Inc
476,683
277,250
Microsoft
Corp
102,629,632
9,585
(a)
Nutanix,
Inc,
Class
A
364,326
40,479
Oracle
Corp
5,954,866
10,963
(a),(b)
Pagaya
Technologies
Ltd,
Class
A
127,719
196,393
(a)
Palantir
Technologies,
Inc,
Class
A
28,728,368
24,964
(a)
PTC,
Inc
3,557,120
103,746
(a),(b)
Rezolve
AI
plc
265,590
55,557
(a)
Riot
Platforms,
Inc
686,684
22,714
Salesforce,
Inc
4,240,022
34,765
(a)
ServiceNow,
Inc
3,634,681
41,245
(a),(b)
SoundHound
AI,
Inc
283,353
43,897
(a),(b)
Terawulf,
Inc
633,434
8,086
(a)
Trade
Desk,
Inc,
Class
A
183,471
2,332
(a)
Tyler
Technologies,
Inc
798,430
17,534
(a)
Unity
Software,
Inc
384,696
7,764
(a)
Vertex,
Inc,
Class
A
92,314
16,032
(a)
Zeta
Global
Holdings
Corp,
Class
A
255,229
TOTAL
SOFTWARE
&
SERVICES
185,837,958
TECHNOLOGY
HARDWARE
&
EQUIPMENT
-
12.5%
5,073
(a)
Aeva
Technologies,
Inc
66,761
516,270
(c)
Apple,
Inc
131,024,163
8,199
(a)
Applied
Optoelectronics,
Inc
693,553
497,907
Cisco
Systems,
Inc
38,632,604
13,882
(a),(b)
IonQ,
Inc
400,218
8,099
(a)
Keysight
Technologies,
Inc
2,286,914
1,264
(a)
Lumentum
Holdings,
Inc
888,289
4,500
(a)
Ouster,
Inc
82,665
26,629
(a),(b)
Quantum
Computing,
Inc
182,409
2,588
Ralliant
Corp
107,635
TOTAL
TECHNOLOGY
HARDWARE
&
EQUIPMENT
174,365,211
TELECOMMUNICATION
SERVICES
-
0.4%
22,310
(a),(b)
AST
SpaceMobile,
Inc
1,848,829
15,823
Spok
Holdings,
Inc
172,471
31,079
Telephone
and
Data
Systems,
Inc
1,308,426
55,601
Verizon
Communications,
Inc
2,791,170
TOTAL
TELECOMMUNICATION
SERVICES
6,120,896
Portfolio
of
Investments
March
31,
2026
(continued)
QQQX
All
percentages
shown
in
the
Portfolio
of
Investments
are
based
on
net
assets
applicable
to
common
shares
unless
otherwise
noted.
SHARES
DESCRIPTION
VALUE
TRANSPORTATION
-
0.3%
11,239
Delta
Air
Lines,
Inc
$
747,169
228
FedEx
Corp
81,209
33,792
(a)
Uber
Technologies,
Inc
2,430,658
4,685
(a)
XPO,
Inc
911,467
TOTAL
TRANSPORTATION
4,170,503
UTILITIES
-
1.1%
6,056
Atmos
Energy
Corp
1,118,664
4,647
CMS
Energy
Corp
360,514
15,895
NextEra
Energy,
Inc
1,476,328
17,908
NRG
Energy,
Inc
2,617,075
11,765
(a)
Oklo,
Inc
583,426
26,822
PG&E
Corp
471,263
3,827
Public
Service
Enterprise
Group,
Inc
309,796
52,824
Southern
Co
5,098,573
20,225
Vistra
Corp
3,040,424
TOTAL
UTILITIES
15,076,063
TOTAL
COMMON
STOCKS
(Cost
$345,371,983)
1,380,612,383
SHARES
DESCRIPTION
VALUE
27161209
EXCHANGE-TRADED
FUNDS
-
1
.9
%
27161209
41,000
(b)
Invesco
QQQ
Trust
Series
23,664,380
10,900
Vanguard
Total
Stock
Market
ETF
3,496,829
TOTAL
EXCHANGE-TRADED
FUNDS
(Cost
$27,503,545)
27,161,209
TOTAL
LONG-TERM
INVESTMENTS
(Cost
$372,875,528)
1,407,773,592
SHARES
DESCRIPTION
RATE
VALUE
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
-
1.1%
14,529,640
(d)
State
Street
Navigator
Securities
Lending
Government
Money
Market
Portfolio
3
.680
%
(e)
14,529,640
TOTAL
INVESTMENTS
PURCHASED
WITH
COLLATERAL
FROM
SECURITIES
LENDING
(Cost
$14,529,640)
14,529,640
PRINCIPAL
DESCRIPTION
RATE
MATURITY
VALUE
SHORT-TERM
INVESTMENTS
-
2.0%
28,144,111
REPURCHASE
AGREEMENTS
-
2
.0
%
28,144,111
$
28,144,111
(f)
Fixed
Income
Clearing
Corporation
1
.060
04/01/26
28,144,111
TOTAL
REPURCHASE
AGREEMENTS
(Cost
$28,144,111)
28,144,111
TOTAL
SHORT-TERM
INVESTMENTS
(Cost
$28,144,111)
28,144,111
TOTAL
INVESTMENTS
-
103
.7
%
(Cost
$
415,549,279
)
1,450,447,343
OTHER
ASSETS
&
LIABILITIES,
NET
- (3.7)%
(
51,464,239
)
NET
ASSETS
APPLICABLE
TO
COMMON
SHARES
-
100%
$
1,398,983,104
ADR
American
Depositary
Receipt
ETF
Exchange-Traded
Fund
S&P
Standard
&
Poor's
(a)
Non-income
producing;
issuer
has
not
declared
an
ex-dividend
date
within
the
past
twelve
months.
(b)
Investment,
or
a
portion
of
investment,
is
out
on
loan
for
securities
lending.
The
total
value
of
the
securities
out
on
loan
as
of
the
end
of
the
fiscal
period
was
$14,924,649.
(c)
Investment,
or
portion
of
investment,
has
been
pledged
to
collateralize
the
net
payment
obligations
for
investments
in
derivatives.
(d)
Investments
made
with
cash
collateral
received
from
securities
on
loan.
(e)
The
rate
shown
is
the
one-day
yield
as
of
the
end
of
the
reporting
period.
Investments
in
Derivatives
Part
F
of
Form
N-PORT
was
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(“U.S.
GAAP”)
and
in
conformity
with
the
applicable
rules
and
regulations
of
the
U.S.
Securities
and
Exchange
Commission
(“SEC”)
related
to
interim
filings.
Part
F
of
Form
N-PORT
does
not
include
all
information
and
footnotes
required
by
U.S.
GAAP
for
complete
financial
statements.
Certain
footnote
disclosures
normally
included
in
financial
statements
prepared
in
accordance
with
U.S.
GAAP
have
been
condensed
or
omitted
from
this
report
pursuant
to
the
rules
of
the
SEC.
For
a
full
set
of
the
Fund’s
notes
to
financial
statements,
please
refer
to
the
Fund’s
most
recently
filed
annual
or
semi-annual
report.
Fair
Value
Measurements
The
Fund’s
investments
in
securities
are
recorded
at
their
estimated
fair
value
utilizing
valuation
methods
approved
by
the
Board
of
Directors/
Trustees.
Fair
value
is
defined
as
the
price
that
would
be
received
upon
selling
an
investment
or
transferring
a
liability
in
an
orderly
transaction
to
an
independent
buyer
in
the
principal
or
most
advantageous
market
for
the
investment.
U.S.
GAAP
establishes
the
three-tier
hierarchy
which
is
used
to
maximize
the
use
of
observable
market
data
and
minimize
the
use
of
unobservable
inputs
and
to
establish
classification
of
fair
value
measurements
for
disclosure
purposes.
Observable
inputs
reflect
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Observable
inputs
are
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
reflect
management’s
assumptions
about
the
assumptions
market
participants
would
use
in
pricing
the
asset
or
liability.
Unobservable
inputs
are
based
on
the
best
information
available
in
the
circumstances.
The
following
is
a
summary
of
the
three-tiered
hierarchy
of
valuation
input
levels.
Level
1
–
Inputs
are
unadjusted
and
prices
are
determined
using
quoted
prices
in
active
markets
for
identical
securities.
Level
2
–
Prices
are
determined
using
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
credit
spreads,
etc.).
Level
3
–
Prices
are
determined
using
significant
unobservable
inputs
(including
management’s
assumptions
in
determining
the
fair
value
of
investments).
The
following
table
summarizes
the
market
value
of
the
Fund's
investments
as
of
the
end
of
the
reporting
period,
based
on
the
inputs
used
to
value
them:
(f)
Agreement
with
Fixed
Income
Clearing
Corporation,
1.060%
dated
3/31/26
to
be
repurchased
at
$28,144,940
on
4/1/26,
collateralized
by
Government
Agency
Securities,
with
coupon
rate
3.375%
and
maturity
date
11/30/27,
valued
at
$28,707,101.
Options
Written
Type
Description
(a)
Number
of
Contracts
Notional
Amount
(b)
Exercise
Price
Expiration
Date
Value
Call
S&P
500
Index
(140)
$
(
92,400,000
)
$
6,600
4/17/26
$
(
1,208,900
)
Call
NASDAQ
100
Stock
INDEX
(150)
(
361,500,000
)
24,100
4/17/26
(
4,836,000
)
Call
Invesco
QQQ
Trust
(1,200)
(
75,000,000
)
625
4/30/26
(
109,800
)
Call
Invesco
QQQ
Trust
(600)
(
37,800,000
)
630
4/30/26
(
33,900
)
Call
Invesco
QQQ
Trust
(600)
(
37,500,000
)
625
5/15/26
(
153,300
)
Call
S&P
500
Index
(75)
(
52,500,000
)
7,000
5/15/26
(
122,250
)
Call
S&P
500
Index
(110)
(
77,000,000
)
7,000
5/15/26
(
314,600
)
Call
S&P
500
Index
(110)
(
77,550,000
)
7,050
5/15/26
(
118,250
)
Call
S&P
500
Index
(111)
(
78,810,000
)
7,100
5/15/26
(
77,700
)
Total
Options
Written
(premiums
received
$13,281,261)
(3,096)
$(890,060,000)
$(6,974,700)
(a)
Exchange-traded,
unless
otherwise
noted.
(b)
For
disclosure
purposes,
Notional
Amount
is
calculated
by
multiplying
the
Number
of
Contracts
by
the
Exercise
Price
by
100.
QQQX
Level
1
Level
2
Level
3
Total
Long-Term
Investments:
Common
Stocks
$
1,380,612,383
$
–
$
–
$
1,380,612,383
Exchange-Traded
Funds
27,161,209
–
–
27,161,209
Investments
Purchased
with
Collateral
from
Securities
Lending
14,529,640
–
–
14,529,640
Short-Term
Investments:
Repurchase
Agreements
–
28,144,111
–
28,144,111
Investments
in
Derivatives:
Options
Written
(
6,974,700
)
–
–
(
6,974,700
)
Total
$
1,415,328,532
$
28,144,111
$
–
$
1,443,472,643