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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>BWX Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Badger Meter, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Benitec Biopharma, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Black Hills Corp.</name>
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        <name>Boot Barn Holdings, Inc.</name>
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        <name>Bridgebio Pharma, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cactus, Inc.</name>
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        <name>Cava Group, Inc.</name>
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        <name>Celcuity, Inc.</name>
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        <name>Ceribell, Inc.</name>
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        <name>CG oncology, Inc.</name>
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        <name>Chinook Therapeutics, Inc.</name>
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        <name>Cogent Biosciences, Inc.</name>
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        <title>Cogent Biosciences, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Cytokinetics, Inc.</name>
        <lei>549300BE5DY1HW7IHA64</lei>
        <title>Cytokinetics, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>D-Wave Quantum, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Eldorado Gold Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>ERock, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Flywire Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FB Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Fervo Energy Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Forgent Power Solutions, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Freshpet, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Gitlab, Inc.</name>
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        <name>Glaukos Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Guardant Health, Inc.</name>
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        <name>Haemonetics Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Hamilton Lane, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HealthEquity, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
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        <name>Integer Holdings Corp.</name>
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        <name>Lattice Semiconductor Corp.</name>
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        <name>Legalzoom.com, Inc.</name>
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        <name>Steven Madden Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>New York Times Co. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Novanta, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Olema Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Onto Innovation, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Oruka Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Checkr, Inc.</name>
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        <name>Pebblebrook Hotel Trust</name>
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        <name>Performance Food Group Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Privia Health Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>GeneDx Holdings Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ServiceTitan, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SiTime Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Structure Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tango Therapeutics, Inc.</name>
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        <name>Terex Corp.</name>
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        <name>Texas Roadhouse, Inc.</name>
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        <name>Vontier Corp.</name>
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        <title>Vontier Corp.</title>
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        <name>Western Alliance Bancorp</name>
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        <name>Wingstop, Inc.</name>
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        <name>Xenon Pharmaceuticals, Inc.</name>
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        <name>Tula eTechnology, Inc.</name>
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        <name>Smule, Inc.</name>
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        <name>Smule, Inc.</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tula eTechnology, Inc.</name>
        <lei>N/A</lei>
        <title>Tula eTechnology, Inc., Series E</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="814266"/>
        </identifiers>
        <balance>3611111.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3872916.55000000</valUSD>
        <pctVal>0.156713460156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Newsela, Inc.</name>
        <lei>N/A</lei>
        <title>Newsela, Inc., Series D</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1130884"/>
        </identifiers>
        <balance>709046.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12221218.96000000</valUSD>
        <pctVal>0.494518662054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ClearMotion, Inc.</name>
        <lei>254900AOZNAIGTQZCA74</lei>
        <title>ClearMotion, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1182469"/>
        </identifiers>
        <balance>3698772.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>379590.18000000</valUSD>
        <pctVal>0.015359713998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ClearMotion, Inc.</name>
        <lei>254900AOZNAIGTQZCA74</lei>
        <title>ClearMotion, Inc., Series A-4</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1214732"/>
        </identifiers>
        <balance>6477294.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>849380.52000000</valUSD>
        <pctVal>0.034369281795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OneTrust LLC</name>
        <lei>984500WD5532BB49FA33</lei>
        <title>OneTrust LLC, Series A-1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1240821"/>
        </identifiers>
        <balance>56457.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>665295.61000000</valUSD>
        <pctVal>0.026920481173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OneTrust LLC</name>
        <lei>984500WD5532BB49FA33</lei>
        <title>OneTrust LLC, Series A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1240822"/>
        </identifiers>
        <balance>625361.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7369324.06000000</valUSD>
        <pctVal>0.298191881376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novanta, Inc.</name>
        <lei>N/A</lei>
        <title>Novanta, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1624369"/>
        </identifiers>
        <balance>66170.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9432533.50000000</valUSD>
        <pctVal>0.381677462900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Optoro, Inc.</name>
        <lei>N/A</lei>
        <title>Optoro, Inc., Escrow Account</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1509824"/>
        </identifiers>
        <balance>554878.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.55000000</valUSD>
        <pctVal>0.000000022255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Astranis Space Technologies Corp.</name>
        <lei>N/A</lei>
        <title>Astranis Space Technologies Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1577647"/>
        </identifiers>
        <balance>311952.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5999994.30000000</valUSD>
        <pctVal>0.242783405099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Titan America SA</name>
        <lei>9845007APCB6462D6C46</lei>
        <title>Titan America SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE6360403164"/>
          <other otherDesc="Inhouse Asset ID" value="1444121"/>
        </identifiers>
        <balance>617891.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9564952.68000000</valUSD>
        <pctVal>0.387035664560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2336590.33000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Structure Therapeutics, Inc.</name>
        <lei>N/A</lei>
        <title>Structure Therapeutics, Inc.</title>
        <cusip>86366E106</cusip>
        <identifiers>
          <isin value="US86366E1064"/>
          <other otherDesc="Inhouse Asset ID" value="1236609"/>
        </identifiers>
        <balance>50066.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2405170.64000000</valUSD>
        <pctVal>0.097322678760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Institutional U.S. Government Money Market Fund</name>
        <lei>549300M4TP89K77LG374</lei>
        <title>Franklin Institutional U.S. Government Money Market Fund</title>
        <cusip>457756500</cusip>
        <identifiers>
          <isin value="US4577565009"/>
        </identifiers>
        <balance>49168576.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49168576.25000000</valUSD>
        <pctVal>1.989554284384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="49168576.25000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alkermes plc</name>
        <lei>N/A</lei>
        <title>Alkermes plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00B56GVS15"/>
          <other otherDesc="Inhouse Asset ID" value="502975"/>
        </identifiers>
        <balance>313647.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15365566.53000000</valUSD>
        <pctVal>0.621751351235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DPC Holdings plc</name>
        <lei>N/A</lei>
        <title>DPC Holdings plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JE00BPK4NV88"/>
          <other otherDesc="Inhouse Asset ID" value="1628026"/>
        </identifiers>
        <balance>110302.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5029771.20000000</valUSD>
        <pctVal>0.203524356482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4909383.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fabrinet</name>
        <lei>5493004TETZ6IYF7CV44</lei>
        <title>Fabrinet</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3323L1005"/>
          <other otherDesc="Inhouse Asset ID" value="471611"/>
        </identifiers>
        <balance>40735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17736426.35000000</valUSD>
        <pctVal>0.717685679058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jazz Pharmaceuticals plc</name>
        <lei>635400GAUMJCLEZRRV50</lei>
        <title>Jazz Pharmaceuticals plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00B4Q5ZN47"/>
          <other otherDesc="Inhouse Asset ID" value="514264"/>
        </identifiers>
        <balance>145846.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36878619.56000000</valUSD>
        <pctVal>1.492254222996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kestra Medical Technologies Ltd.</name>
        <lei>N/A</lei>
        <title>Kestra Medical Technologies Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG524411052"/>
          <other otherDesc="Inhouse Asset ID" value="1449115"/>
        </identifiers>
        <balance>858407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19597431.81000000</valUSD>
        <pctVal>0.792989291011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ascendis Pharma A/S</name>
        <lei>549300B66JN3W3J8GH73</lei>
        <title>Ascendis Pharma A/S</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0060615755"/>
          <other otherDesc="Inhouse Asset ID" value="1608785"/>
        </identifiers>
        <balance>110189.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26876198.99000000</valUSD>
        <pctVal>1.087516884293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JFrog Ltd.</name>
        <lei>2549002N8E00AY49G567</lei>
        <title>JFrog Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IL0011684185"/>
          <other otherDesc="Inhouse Asset ID" value="1107314"/>
        </identifiers>
        <balance>452371.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36094682.09000000</valUSD>
        <pctVal>1.460533024803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Newamsterdam Pharma Co. NV</name>
        <lei>984500B6549TF6E14D36</lei>
        <title>Newamsterdam Pharma Co. NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL00150012L7"/>
          <other otherDesc="Inhouse Asset ID" value="1366410"/>
        </identifiers>
        <balance>292360.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8124684.40000000</valUSD>
        <pctVal>0.328756736316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flock Group, Inc.</name>
        <lei>N/A</lei>
        <title>Flock Group, Inc., Series G</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1337870"/>
        </identifiers>
        <balance>987540.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14967079.21000000</valUSD>
        <pctVal>0.605626984510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Strategic Series</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
