| Number of shares | Value (US $) | ||
| Common Stocks — 99.89%♣ | |||
| Communication Services — 9.93% | |||
| Alphabet Class A | 1,247,021 | $ 445,647,895 | |
| Meta Platforms Class A | 216,997 | 122,232,240 | |
| Netflix † | 683,507 | 48,802,400 | |
| 616,682,535 | |||
| Consumer Discretionary — 7.06% | |||
| Amazon.com † | 1,324,222 | 315,615,072 | |
| Booking Holdings | 515,783 | 91,933,162 | |
| Ferrari | 83,167 | 30,962,242 | |
| 438,510,476 | |||
| Consumer Staples — 0.15% | |||
| Coca-Cola | 116,947 | 9,504,283 | |
| 9,504,283 | |||
| Financials — 12.88% | |||
| Intercontinental Exchange | 810,413 | 99,769,944 | |
| Mastercard Class A | 287,020 | 147,413,472 | |
| MSCI | 186,812 | 104,622,193 | |
| S&P Global | 354,624 | 144,424,170 | |
| Visa Class A | 883,456 | 303,104,919 | |
| 799,334,698 | |||
| Healthcare — 13.61% | |||
| Danaher | 690,034 | 131,437,676 | |
| Edwards Lifesciences † | 1,234,786 | 111,698,742 | |
| Eli Lilly & Co. | 249,504 | 299,262,583 | |
| Gilead Sciences | 595,580 | 75,245,577 | |
| IDEXX Laboratories † | 123,530 | 65,031,133 | |
| Intuitive Surgical † | 260,108 | 103,439,750 | |
| Veeva Systems Class A † | 330,505 | 58,654,722 | |
| 844,770,183 | |||
| Industrials — 7.47% | |||
| Broadridge Financial Solutions | 210,058 | 28,767,443 | |
| Equifax | 232,972 | 36,977,316 | |
| General Electric | 385,946 | 144,239,599 | |
| Old Dominion Freight Line | 92,682 | 20,074,921 | |
| Verisk Analytics | 632,939 | 113,631,539 | |
| Waste Connections | 720,377 | 120,079,642 | |
| 463,770,460 | |||
| Number of shares | Value (US $) | ||
| Common Stocks♣ (continued) | |||
| Information Technology — 47.30% | |||
| Advanced Micro Devices † | 551,003 | $ 320,083,153 | |
| Apple | 1,847,456 | 534,579,868 | |
| Autodesk † | 191,644 | 37,259,426 | |
| Broadcom | 529,853 | 200,151,971 | |
| Intuit | 181,776 | 47,443,536 | |
| Microsoft | 1,292,343 | 482,069,786 | |
| Motorola Solutions | 228,025 | 94,696,502 | |
| NVIDIA | 4,854,835 | 971,403,935 | |
| Taiwan Semiconductor Manufacturing ADR | 520,730 | 248,685,026 | |
| 2,936,373,203 | |||
| Materials — 1.49% | |||
| Vulcan Materials | 313,934 | 92,613,669 | |
| 92,613,669 | |||
| Total Common Stocks (cost $2,446,563,688) | 6,201,559,507 | ||
| Total Value of Securities—99.89% (cost $2,446,563,688) | 6,201,559,507 | ||
| Receivables and Other Assets Net of Liabilities—0.11% | 6,957,965 | ||
| Net Assets Applicable to 164,062,189 Shares Outstanding—100.00% | $6,208,517,472 | ||
| ♣ | Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. |
| † | Non-income producing security. |
| Summary of abbreviations: |
| ADR – American Depositary Receipt |
| S&P – Standard & Poor’s Financial Services LLC |