Baron Capital

Q1 2021 13F · by Ron Baron, CEO

As of: Mar 31, 2021
Filed: May 19, 2021
US stock: $40.6B · prev $40.4B
Positions: 394 · prev 377
Options notional: $0
Documents: 1· no amendments

Picture99.8% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.8%
Foreign stock not listed in the US 0.2%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves351 since the prior filing

+4.3 pp in · −4.1 pp out

New 38 +2.22 pp
Added 147 +2.03 pp
Trimmed 145 −3.52 pp
Exited 21 −0.62 pp

The book

Diversified · behaves like 48 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 18% a year, about 5.6 years per position

Low
Moderate
High

Top 5 positions24% of US stock

TSLA Tesla, Inc. trimmed−1.62 pp trimmed−1.6210.1%
CSGP CoStar Group Inc added−0.49 pp added−0.493.9%
IDXX Idexx Laboratories Inc trimmed−0.33 pp trimmed−0.333.5%
MTN Vail Resorts, Inc. added+0.18 pp added+0.183.2%
PENN PENN Entertainment, Inc. trimmed+0.49 pp trimmed+0.492.9%

Positions394 in this filing · 21 exited


TSLATesla, Inc.	10.13%	6,150,410	$4.1B	trimmed−9%	−1.62 pp	29 q
CSGPCoStar Group Inc	3.93%	1,940,259	$1.6B	added0%	−0.49 pp	32 q
IDXXIdexx Laboratories Inc	3.51%	2,910,573	$1.4B	trimmed−6%	−0.33 pp	32 q
MTNVail Resorts, Inc.	3.23%	4,487,957	$1.3B	added+2%	+0.18 pp	32 q
PENNPENN Entertainment, Inc.	2.92%	11,283,363	$1.2B	trimmed−1%	+0.49 pp	32 q
ITGartner, Inc.	2.55%	5,661,331	$1.0B	trimmed−0%	+0.30 pp	32 q
MSCIMSCI, Inc.	2.31%	2,238,157	$938M	added0%	−0.15 pp	32 q
FDSFactset Research Systems	2.04%	2,683,121	$828M	trimmed−1%	−0.18 pp	32 q
ACGLArch Capital Group Ltd	2.03%	21,426,615	$822M	added+2%	+0.16 pp	32 q
AKXAnsys Inc	1.86%	2,219,930	$754M	trimmed−3%	−0.21 pp	32 q
GWREGuidewire Software, Inc.	1.43%	5,698,061	$579M	trimmed−0%	−0.39 pp	32 q
TECHBio-Techne Corp.	1.41%	1,495,296	$571M	added0%	+0.24 pp	26 q
BABAAlibaba Group Holding Limited	1.29%	2,307,437	$523M	added+12%	+0.10 pp	27 q
IRDMIridium Communications Inc.	1.28%	12,610,696	$520M	trimmed−2%	+0.03 pp	28 q
CHHChoice Hotels Intnl.	1.23%	4,650,085	$499M	trimmed−1%	0.00 pp	32 q
WIXWIX.com Ltd.	1.15%	1,664,422	$465M	trimmed−1%	+0.11 pp	18 q
BFAMBright Horizons Family Solutions Inc.	1.14%	2,695,011	$462M	added+1%	−0.01 pp	32 q
MTDMettler-Toledo International	1.14%	399,682	$462M	trimmed−7%	−0.07 pp	32 q
VACMarriott Vacations Worldwide Corporation	1.11%	2,574,435	$448M	trimmed−0%	+0.23 pp	32 q
SCHWThe Charles Schwab Corporation	1.08%	6,737,181	$439M	trimmed−0%	+0.19 pp	32 q
ZGZillow Group Inc Class A	0.99%	3,050,766	$401M	trimmed−0%	−0.04 pp	25 q
GDSGDS Holdings Limited	0.98%	4,895,158	$397M	added+10%	−0.05 pp	13 q
HHyatt Hotels Corporation	0.97%	4,759,149	$394M	trimmed−3%	+0.07 pp	32 q
TREXTrex Company, Inc.	0.94%	4,183,817	$383M	trimmed−3%	+0.04 pp	29 q
GLPIGaming and Leisure Properties, Inc.	0.92%	8,838,881	$375M	trimmed−0%	−0.01 pp	30 q
WSTWest Pharmaceutical Services, Inc.	0.88%	1,265,761	$357M	trimmed−5%	−0.06 pp	32 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.86%	2,934,988	$347M	added+1%	+0.07 pp	32 q
KNSLKinsale Capital Group, Inc.	0.80%	1,962,543	$323M	added+5%	−0.13 pp	18 q
PRIPrimerica, Inc.	0.77%	2,123,714	$314M	trimmed−5%	+0.03 pp	32 q
SSNCSS&C Technologies Inc	0.74%	4,293,743	$300M	trimmed−6%	−0.08 pp	32 q
MORNMorningstar, Inc.	0.72%	1,299,618	$292M	trimmed−3%	−0.05 pp	32 q
AMZNAmazon.Com Inc	0.67%	88,427	$274M	added+3%	−0.02 pp	32 q
GOOGAlphabet Inc. Class C	0.66%	128,465	$266M	added+28%	+0.22 pp	28 q
TRIPTripAdvisor, Inc.	0.66%	4,978,359	$268M	new	+0.66 pp	new
ZZillow Group, Inc. Class C	0.65%	2,030,799	$263M	added+9%	+0.05 pp	23 q
DAYDayforce, Inc.	0.62%	3,006,083	$253M	added+4%	−0.14 pp	12 q
ZLABZai Lab Limited	0.60%	1,822,678	$243M	trimmed−11%	−0.09 pp	13 q
RRRRed Rock Resorts, Inc. Class A	0.59%	7,285,451	$237M	added+3%	+0.15 pp	20 q
SBACSBA Communications Corp	0.59%	856,830	$238M	trimmed−8%	−0.06 pp	18 q
RNGRingcentral, Inc.	0.55%	744,306	$222M	added+6%	−0.11 pp	11 q
VEEVVeeva Systems Inc.	0.55%	846,707	$221M	added+5%	+0.01 pp	16 q
DEIDouglas Emmett, Inc.	0.54%	6,983,097	$219M	added+9%	+0.08 pp	32 q
IBPInstalled Building Products, Inc.	0.54%	1,985,241	$220M	added+2%	+0.05 pp	14 q
ILMNIllumina Inc	0.53%	564,419	$217M	trimmed−6%	−0.02 pp	32 q
VRSKVerisk Analytics, Inc.	0.53%	1,215,788	$215M	trimmed−13%	−0.19 pp	32 q
AREAlexandria Real Estate Equities, Inc.	0.52%	1,273,007	$209M	added0%	−0.04 pp	32 q
DAVAEndava plc	0.51%	2,427,585	$206M	trimmed−1%	+0.05 pp	11 q
GTMZoomInfo Technologies Inc	0.50%	4,187,692	$205M	trimmed−1%	0.00 pp	4 q
MANUManchester United PLC	0.50%	12,954,782	$204M	added+14%	+0.03 pp	32 q
METAMeta Platforms, Inc. Class A	0.46%	628,964	$185M	added+15%	+0.09 pp	32 q
SITESiteOne Landscape Supply, Inc.	0.46%	1,091,127	$186M	trimmed−15%	−0.04 pp	20 q
AZPNAspen Technology Inc	0.44%	1,245,532	$180M	trimmed−1%	+0.04 pp	23 q
GHGuardant Health, Inc.	0.43%	1,139,548	$174M	added+5%	+0.08 pp	10 q
FNDFloor & Decor Holdings, Inc.	0.42%	1,767,432	$169M	trimmed−5%	−0.01 pp	16 q
CLVTClarivate Plc	0.42%	6,471,625	$171M	trimmed−0%	−0.06 pp	8 q
EPAMEpam Systems, Inc.	0.40%	411,812	$163M	added+61%	+0.17 pp	22 q
SDGRSchrodinger, Inc.	0.40%	2,143,887	$164M	added+27%	+0.07 pp	5 q
EFOREverforth, Inc.	0.39%	1,655,150	$158M	trimmed−0%	+0.05 pp	11 q
XLRNAcceleron Pharma Inc.	0.38%	1,138,303	$154M	added+9%	+0.05 pp	16 q
CNSCohen & Steers Inc.	0.38%	2,385,619	$156M	trimmed−3%	−0.07 pp	32 q
MKTXMarketAxess Holdings Inc.	0.38%	309,084	$154M	trimmed−0%	−0.06 pp	23 q
COLDAmericold Realty Trust, Inc.	0.37%	3,930,716	$151M	trimmed−0%	+0.01 pp	13 q
DXCMDexCom, Inc.	0.37%	415,537	$149M	trimmed−0%	−0.01 pp	32 q
PEGAPegasystems Inc	0.37%	1,303,269	$149M	added+5%	−0.04 pp	32 q
TRUTransUnion	0.37%	1,645,809	$148M	trimmed−1%	−0.04 pp	16 q
MSFTMicrosoft Corp	0.36%	612,027	$144M	added+36%	+0.11 pp	14 q
TTDThe Trade Desk, Inc.	0.36%	226,350	$148M	trimmed−20%	−0.20 pp	18 q
EQIXEquinix, Inc.	0.35%	206,457	$140M	trimmed−12%	−0.06 pp	25 q
VRTVertiv Holdings Co Class A	0.35%	7,000,000	$140M	held	—	5 q
ARGXargenx SE	0.34%	493,727	$136M	added+33%	+0.07 pp	14 q
SHOPShopify Inc. Class A subordinate voting shares	0.34%	123,662	$137M	added+3%	+0.01 pp	6 q
VRSNVeriSign Inc	0.33%	665,946	$132M	trimmed−2%	−0.03 pp	32 q
MRCYMercury Systems Inc.	0.32%	1,822,680	$129M	added+23%	0.00 pp	25 q
ICLRIcon Plc	0.32%	655,073	$129M	added+4%	+0.02 pp	32 q
OPENOpendoor Technologies Inc	0.30%	5,826,335	$123M	trimmed−5%	−0.02 pp	2 q
UTZUtz Brands, Inc.	0.30%	4,899,907	$121M	trimmed−4%	+0.02 pp	4 q
ROPRoper Technologies, Inc.	0.29%	294,177	$119M	trimmed−5%	−0.04 pp	32 q
KTOSKratos Defense & Security Solutions, Inc.	0.27%	3,957,839	$108M	held	—	5 q
LBRDKLiberty Broadband Corporation Class C	0.27%	718,078	$108M	trimmed−4%	−0.02 pp	26 q
MELIMercado Libre, Inc	0.27%	73,200	$108M	added+3%	−0.03 pp	11 q
TXG10x Genomics, Inc. Class A	0.27%	594,758	$108M	trimmed−0%	+0.06 pp	7 q
TWLOTwilio Inc.	0.27%	321,476	$110M	added+10%	+0.03 pp	8 q
ALTRAltair Engineering Inc. Class A	0.26%	1,685,056	$105M	trimmed−6%	0.00 pp	14 q
FISFidelity National Information Services, Inc.	0.26%	761,165	$107M	trimmed−7%	−0.03 pp	7 q
STNEStoneCo Ltd. Class A	0.26%	1,741,678	$107M	added+4%	−0.09 pp	10 q
BWINThe Baldwin Insurance Group, Inc. Class A	0.25%	3,768,007	$103M	added+5%	−0.02 pp	6 q
CGNXCognex Corp	0.25%	1,200,000	$100M	held	—	32 q
unresolvedThe Carlyle Group	0.23%	2,493,512	$92M	trimmed−3%	+0.03 pp	32 q
unresolvedCooper Cos Inc/The	0.23%	240,747	$92M	trimmed−1%	+0.01 pp	29 q
RPAYRepay Holdings Corporation Class A	0.23%	4,017,000	$94M	added+33%	−0.04 pp	6 q
TFXTeleflex Incorporated	0.23%	220,791	$92M	added+1%	+0.01 pp	20 q
AXNXAxonics, Inc.	0.22%	1,505,982	$90M	added+18%	+0.06 pp	5 q
PAGSPagSeguro Digital Ltd.	0.22%	1,893,744	$88M	trimmed−24%	−0.13 pp	13 q
XPXP Inc. Class A	0.22%	2,359,739	$89M	trimmed−9%	−0.03 pp	6 q
ARRYArray Technologies, Inc.	0.21%	2,838,799	$85M	added+43%	0.00 pp	2 q
AVNTAvient Corporation	0.21%	1,809,631	$86M	held	—	6 q
BYDBoyd Gaming Corporation	0.21%	1,428,497	$84M	trimmed−8%	+0.04 pp	17 q
unresolvedBrookfield Asset Mgmt Inc	0.21%	1,925,203	$86M	added+3%	+0.02 pp	32 q
HLIHoulihan Lokey, Inc.	0.21%	1,299,982	$86M	trimmed−0%	−0.01 pp	14 q
PRAHPRA Health Sciences, Inc.	0.21%	551,014	$84M	trimmed−12%	+0.02 pp	26 q
SILKSilk Road Medical, Inc.	0.21%	1,663,170	$84M	added+13%	−0.02 pp	8 q
IEXIDEX Corporation	0.20%	389,136	$81M	trimmed−13%	−0.02 pp	27 q
PINSPinterest, Inc. Class A	0.20%	1,090,638	$81M	trimmed−1%	+0.02 pp	3 q
SFIXStitch Fix, Inc. Class A	0.20%	1,666,747	$83M	added+93%	+0.07 pp	2 q
WCNWaste Connections, Inc.	0.20%	750,000	$81M	held	—	19 q
SPOTSpotify Technology S.A.	0.20%	305,842	$82M	trimmed−1%	−0.04 pp	12 q
AIYActivision Blizzard Inc	0.19%	822,885	$77M	held	—	13 q
CRWDCrowdStrike Holdings, Inc. Class A	0.19%	422,288	$77M	added+9%	−0.01 pp	8 q
DTDynatrace, Inc.	0.19%	1,618,003	$78M	added+33%	+0.06 pp	7 q
FTCHQFarfetch Limited A	0.19%	1,469,064	$78M	trimmed−6%	−0.06 pp	2 q
INSPInspire Medical Systems, Inc.	0.19%	373,935	$77M	held	—	9 q
unresolvedLufax Holding Ltd	0.19%	5,175,222	$75M	added+14%	+0.03 pp	2 q
NEOGNeogen Corp	0.19%	858,994	$76M	added+2%	+0.03 pp	32 q
WEXWEX Inc.	0.19%	375,000	$78M	held	—	32 q
FVRRFiverr International Ltd.	0.19%	351,482	$76M	trimmed−22%	−0.03 pp	8 q
CBRECbre Group, Inc.	0.18%	921,420	$73M	trimmed−1%	+0.04 pp	32 q
CDWCDW Corporation	0.18%	447,816	$74M	trimmed−1%	+0.03 pp	16 q
LVSLas Vegas Sands Corp.	0.18%	1,204,972	$73M	added×2.2	+0.10 pp	6 q
SPLKSplunk Inc	0.18%	528,174	$72M	trimmed−14%	−0.08 pp	18 q
TDGTransDigm Group Incorporated	0.18%	125,000	$73M	held	—	32 q
APHAmphenol Corporation	0.17%	1,019,414	$67M	trimmed−1%	0.00 pp	8 q
CAKECheesecake Factory (The)	0.17%	1,200,000	$70M	trimmed−37%	0.00 pp	32 q
DNLIDenali Therapeutics Inc.	0.17%	1,209,824	$69M	added+14%	−0.05 pp	14 q
FICOFair Isaac Corporation	0.17%	145,745	$71M	added+35%	+0.03 pp	6 q
HQYHealthEquity, Inc	0.17%	991,371	$67M	trimmed−6%	−0.01 pp	27 q
ITUBItau Unibanco Holding S.A.	0.17%	14,022,275	$70M	added+4%	−0.03 pp	2 q
OLLIOllie's Bargain Outlet Holdings, Inc.	0.17%	781,530	$68M	trimmed−24%	−0.04 pp	15 q
JBTMJBT Marel Corporation	0.16%	500,000	$67M	trimmed−31%	−0.04 pp	17 q
ROLRollins, Inc.	0.16%	1,853,408	$64M	trimmed−1%	−0.02 pp	19 q
SNOWSnowflake Inc.	0.16%	280,011	$64M	trimmed−0%	−0.04 pp	3 q
AFYAAfya Limited Class A	0.16%	3,567,227	$66M	added+6%	−0.05 pp	7 q
ARWRArrowhead Research Corporation	0.15%	924,430	$61M	added+39%	+0.02 pp	10 q
BBIOBridgeBio Pharma, Inc.	0.15%	1,013,726	$62M	added×39.2	+0.15 pp	2 q
DKNGDraftKings Inc. Class A	0.15%	980,900	$60M	trimmed−13%	+0.02 pp	4 q
FRCBFirst Republic Bk CA	0.15%	357,707	$60M	trimmed−1%	+0.02 pp	32 q
MAMastercard Incorporated	0.15%	170,447	$61M	added+5%	+0.01 pp	32 q
MCMoelis & Company	0.15%	1,103,989	$61M	trimmed−0%	+0.02 pp	28 q
PLNTPlanet Fitness, Inc.	0.15%	800,000	$62M	held	—	13 q
VVISA Inc.	0.15%	277,843	$59M	added+16%	+0.02 pp	32 q
WYNNWynn Resorts Ltd	0.15%	471,066	$59M	trimmed−1%	+0.02 pp	6 q
WTWWillis Towers Watson Public Limited Company	0.15%	267,305	$61M	trimmed−15%	−0.01 pp	21 q
YUMCYum China Holdings, Inc.	0.14%	942,018	$56M	added+20%	+0.03 pp	3 q
NBISNebius Group N.V. Class A	0.14%	911,640	$58M	added+6%	−0.01 pp	21 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.13%	1,250,000	$54M	held	—	20 q
PYPLPayPal Holdings, Inc.	0.13%	212,684	$52M	added+6%	+0.01 pp	9 q
ZTOZTO Express (Cayman) Inc.	0.13%	1,860,104	$54M	added+3%	0.00 pp	3 q
ACVAACV Auctions Inc.	0.12%	1,393,825	$48M	new	+0.12 pp	new
AZEKThe AZEK Company Inc.	0.12%	1,202,710	$51M	trimmed−14%	−0.01 pp	4 q
BERYBerry Global Group, Inc.	0.12%	800,000	$49M	held	—	32 q
CDNACareDx, Inc.	0.12%	737,229	$50M	held	—	12 q
TROWT Rowe Price Group Inc	0.12%	286,770	$49M	trimmed−13%	0.00 pp	32 q
REXRRexford Industrial Realty, Inc.	0.12%	958,372	$48M	trimmed−1%	0.00 pp	26 q
FOURShift4 Payments, Inc.	0.12%	612,170	$50M	added+9%	+0.02 pp	4 q
SHLSShoals Technologies Group, Inc. Class A	0.12%	1,372,521	$48M	new	+0.12 pp	new
GLNGGolar LNG Ltd	0.12%	4,852,621	$50M	added+3%	+0.01 pp	32 q
ADBEAdobe Inc.	0.11%	95,018	$45M	added+6%	0.00 pp	14 q
AMTAmerican Tower Corporation	0.11%	186,555	$45M	added+15%	+0.02 pp	32 q
DRVNDriven Brands Holdings Inc.	0.11%	1,700,000	$43M	new	+0.11 pp	new
OZONOzon Holdings PLC	0.11%	785,682	$44M	added0%	+0.03 pp	2 q
NOWServicenow, Inc.	0.11%	86,753	$43M	added+7%	0.00 pp	23 q
AATAmerican Assets Trust, Inc.	0.10%	1,280,756	$42M	trimmed−10%	0.00 pp	32 q
GDYNGrid Dynamics Holdings, Inc. Class A	0.10%	2,530,000	$40M	added0%	+0.02 pp	5 q
ISRGIntuitive Surgical Inc.	0.10%	56,130	$41M	added+15%	0.00 pp	18 q
LFUSLittelfuse Inc	0.10%	152,468	$40M	trimmed−0%	0.00 pp	21 q
LOWLowe's Companies Inc.	0.10%	214,003	$41M	added+50%	+0.04 pp	10 q
MSGSMadison Square Garden Sports Corp.	0.10%	225,000	$40M	held	—	22 q
PARPAR Technology Corp.	0.10%	611,753	$40M	trimmed−5%	0.00 pp	11 q
PAYAPaya Holdings Inc. Class A	0.10%	3,525,000	$39M	held	—	2 q
unresolvedTpi Composites Inc	0.10%	702,000	$40M	trimmed−1%	+0.01 pp	18 q
TALTAL Education Group	0.10%	717,565	$39M	added+12%	−0.01 pp	29 q
AEISAdvanced Energy Industries Inc	0.09%	320,000	$35M	added+7%	+0.02 pp	6 q
BVBrightView Holdings, Inc.	0.09%	2,053,975	$35M	added+5%	+0.02 pp	10 q
CPNGCoupang, Inc.	0.09%	710,335	$35M	new	+0.09 pp	new
HGVHilton Grand Vacations Inc.	0.09%	986,669	$37M	added+25%	+0.03 pp	17 q
INGNInogen Inc	0.09%	707,985	$37M	added+52%	+0.04 pp	7 q
unresolvedNew Oriental Ed & Tech Grp I	0.09%	2,717,398	$38M	added×6.6	−0.10 pp	10 q
NVDANvidia Corp	0.09%	69,250	$37M	added×2.0	+0.05 pp	11 q
ESNTEssent Group LTD	0.09%	737,286	$35M	trimmed−1%	+0.01 pp	19 q
JLLJones Lang LaSalle, Inc.	0.08%	186,294	$33M	added+13%	+0.02 pp	7 q
LSXMKLiberty Media Cor-siriusxm C	0.08%	750,000	$33M	trimmed−25%	−0.03 pp	11 q
PTCTPTC Therapeutics, Inc.	0.08%	708,697	$34M	trimmed−21%	−0.06 pp	6 q
PGNYProgyny, Inc.	0.08%	688,279	$31M	added+17%	+0.02 pp	6 q
PLDPrologis, Inc.	0.08%	290,437	$31M	added+12%	+0.02 pp	18 q
RVNCRevance Therapeutics, Inc.	0.08%	1,091,732	$31M	added+47%	+0.03 pp	9 q
SIX1Six Flags Entertainment Corp.	0.08%	678,114	$32M	trimmed−1%	+0.02 pp	2 q
DSPViant Technology Inc. Class A	0.08%	577,196	$31M	new	+0.08 pp	new
unresolvedDiversey Hldgs Ltd	0.08%	2,099,967	$31M	new	+0.08 pp	new
BILLBILL Holdings, Inc.	0.07%	184,587	$27M	trimmed−5%	0.00 pp	6 q
BNTXBioNTech SE	0.07%	252,977	$28M	added+73%	+0.04 pp	2 q
NETCloudflare, Inc. Class A, par value $0.001 per share	0.07%	408,841	$29M	added+7%	0.00 pp	7 q
CYRXCryoPort, Inc.	0.07%	524,691	$27M	held	—	4 q
HEI.AHeico Corp Cl A	0.07%	236,227	$27M	trimmed−0%	0.00 pp	13 q
HUBSHubspot, Inc.	0.07%	60,895	$28M	new	+0.07 pp	new
ONTOnterris, Inc.	0.07%	575,723	$29M	added+5%	+0.03 pp	3 q
PDDPDD Holdings Inc.	0.07%	210,109	$28M	held	—	11 q
PRPLPurple Innovation, Inc.	0.07%	837,197	$26M	trimmed−32%	−0.03 pp	4 q
RBCRBC Bearings Incorporated	0.07%	140,000	$28M	trimmed−30%	−0.02 pp	26 q
SPGSimon Property Group, Inc.	0.07%	234,778	$27M	added×17.7	+0.07 pp	2 q
TTCToro Company (The)	0.07%	268,089	$28M	trimmed−51%	−0.06 pp	15 q
TWTradeweb Markets Inc. Class A	0.07%	368,132	$27M	trimmed−0%	+0.01 pp	8 q
TNLTravel + Leisure Co.	0.07%	485,652	$30M	new	+0.07 pp	new
VCYTVeracyte, Inc.	0.07%	519,190	$28M	held	—	8 q
ICHRIchor Holdings	0.07%	535,800	$29M	added+15%	+0.04 pp	18 q
unresolvedNew Frontier Health Corp	0.07%	2,573,436	$29M	added+1%	+0.02 pp	6 q
ASMLASML Holding NV	0.07%	45,274	$28M	trimmed−1%	+0.01 pp	31 q
GOOGLAlphabet Inc. Class A	0.06%	12,732	$26M	added+36%	+0.02 pp	23 q
AMHAmerican Homes 4 Rent	0.06%	719,715	$24M	trimmed−0%	+0.01 pp	16 q
AVLRAvalara, Inc.	0.06%	181,527	$24M	new	+0.06 pp	new
DDOGDatadog, Inc. Class A	0.06%	289,313	$24M	trimmed−14%	−0.02 pp	7 q
unresolvedDesktop Metal Inc	0.06%	1,725,000	$26M	trimmed−14%	−0.02 pp	2 q
RDYDr. Reddy's Laboratories Limited	0.06%	384,368	$24M	added+12%	0.00 pp	9 q
ETWOE2open Parent Holdings, Inc.	0.06%	2,500,000	$25M	new	+0.06 pp	new
unresolvedFifth Wall Acquisition Corp	0.06%	2,527,200	$25M	new	+0.06 pp	new
FBINFortune Brands Innovations, Inc.	0.06%	238,295	$23M	added×2.8	+0.04 pp	4 q
HHCThe Howard Hughes Corporation	0.06%	253,617	$24M	added+15%	+0.02 pp	2 q
JAMFJamf Holding Corp.	0.06%	682,429	$24M	trimmed−9%	0.00 pp	3 q
LENLennar Corporation Class A	0.06%	225,100	$23M	added+7%	+0.02 pp	10 q
SNAPSnap Inc.	0.06%	464,926	$24M	trimmed−22%	−0.01 pp	5 q
ZSZscaler, Inc.	0.06%	136,183	$23M	held	—	13 q
NVMINova Ltd.	0.06%	255,000	$23M	added+16%	+0.02 pp	10 q
ACMRACM Research, Inc. Class A	0.05%	260,167	$21M	new	+0.05 pp	new
ADPTAdaptive Biotechnologies Corporation	0.05%	515,158	$21M	trimmed−1%	−0.03 pp	8 q
ALGMAllegro MicroSystems, Inc.	0.05%	875,000	$22M	trimmed−13%	−0.02 pp	2 q
BMBLBumble Inc. Class A	0.05%	300,077	$19M	new	+0.05 pp	new
BFLYButterfly Network, Inc.	0.05%	1,150,000	$19M	new	+0.05 pp	new
CERTCertara, Inc.	0.05%	748,583	$20M	added+1%	−0.01 pp	2 q
EBSEmergent Biosolutions, Inc.	0.05%	225,000	$21M	added+22%	+0.01 pp	14 q
ELSEquity Lifestyle Properties, Inc.	0.05%	323,389	$21M	added+2%	0.00 pp	13 q
EVBGEverbridge, Inc.	0.05%	175,000	$21M	added+30%	0.00 pp	5 q
HLIOHelios Technologies, Inc.	0.05%	300,000	$22M	trimmed−14%	0.00 pp	8 q
INVHInvitation Homes Inc.	0.05%	642,493	$21M	trimmed−5%	0.00 pp	17 q
MGPMGM Growth Properties LLC Class A representing limited liability company interests	0.05%	585,337	$19M	added+1%	+0.01 pp	20 q
SPHRSphere Entertainment Co.	0.05%	225,000	$18M	held	—	4 q
PINGPing Identity Holding Corp	0.05%	862,131	$19M	added+28%	0.00 pp	7 q
unresolvedRxr Acquisition Corp	0.05%	2,009,700	$20M	new	+0.05 pp	new
RAVNRaven Industries Inc	0.05%	575,000	$22M	trimmed−3%	0.00 pp	13 q
SPGIS&P Global Inc.	0.05%	54,936	$19M	trimmed−5%	0.00 pp	13 q
SAILSailPoint, Inc.	0.05%	430,000	$22M	added×3.6	+0.03 pp	2 q
SWAVShockwave Medical, Inc.	0.05%	159,072	$21M	added+1%	+0.01 pp	4 q
unresolvedTs Innovation Acquisitn Corp	0.05%	1,700,002	$18M	new	+0.05 pp	new
TMETencent Music Entertainment Group	0.05%	238,462	$19M	added+12%	+0.01 pp	10 q
VRNSVaronis Systems, Inc.	0.05%	366,000	$19M	held	—	8 q
unresolvedVesper Healthcare Acqstn Cor	0.05%	1,981,902	$21M	new	+0.05 pp	new
VNOVornado Realty Trust	0.05%	423,513	$19M	added×27.3	+0.05 pp	2 q
VMCVulcan Materials Company(Holding Company)	0.05%	112,153	$19M	added+16%	+0.01 pp	9 q
WDAYWorkday, Inc. Class A	0.05%	75,944	$19M	new	+0.05 pp	new
unresolvedArco Platform Ltd Com	0.05%	846,886	$21M	added+1%	−0.02 pp	11 q
IACA.UIon Acquisition Corp 1 Ltd	0.05%	1,964,104	$20M	new	+0.05 pp	new
GLOBGlobant S.a.	0.05%	88,473	$18M	held	—	20 q
KRNTKornit Digital Ltd.	0.05%	187,500	$19M	held	—	21 q
ACCDAccolade, Inc.	0.04%	323,963	$15M	added+25%	+0.01 pp	3 q
DHID.R. Horton Inc.	0.04%	176,930	$16M	trimmed−25%	0.00 pp	10 q
unresolvedEargo Inc	0.04%	311,996	$16M	held	—	2 q
EWEdwards Lifesciences Corp	0.04%	186,060	$16M	added+29%	+0.01 pp	32 q
EAElectronic Arts Inc	0.04%	123,499	$17M	added+25%	0.00 pp	17 q
VMRKVivmark Residential	0.04%	225,758	$16M	trimmed−3%	+0.01 pp	17 q
HEIHEICO Corporation	0.04%	125,993	$16M	held	—	12 q
HDHome Depot, Inc.	0.04%	59,444	$18M	trimmed−8%	0.00 pp	30 q
LBRDALiberty Broadband Corporation Class A	0.04%	100,000	$15M	held	—	26 q
MDLAMedallia Inc	0.04%	585,000	$16M	added+48%	+0.01 pp	7 q
OKTAOkta, Inc. Class A	0.04%	65,133	$14M	held	—	16 q
SIENSientra, Inc.	0.04%	2,165,363	$16M	added+19%	+0.02 pp	21 q
XYZBlock, Inc.	0.04%	71,335	$16M	added×2.1	+0.02 pp	4 q
TOLToll Brothers, Inc.	0.04%	261,873	$15M	trimmed−24%	0.00 pp	4 q
unresolvedSarissa Capital Acquisitn Co	0.04%	1,505,619	$16M	held	—	2 q
unresolvedAmerican Well Corp Class A	0.03%	784,440	$14M	trimmed−5%	−0.02 pp	3 q
AXGNAxogen, Inc.	0.03%	580,084	$12M	added+15%	+0.01 pp	15 q
CERSCerus Corp	0.03%	2,029,967	$12M	held	—	26 q
CLNSDigitalBridge Group, Inc.	0.03%	1,906,996	$12M	added×4.3	+0.02 pp	3 q
unresolvedDD3 Acquisition Corp II	0.03%	1,033,069	$10M	held	—	2 q
ESPREsperion Therapeutics Inc Ne	0.03%	373,500	$10M	held	—	14 q
FOXFFox Factory Holding Corp.	0.03%	100,000	$13M	held	—	2 q
unresolvedGo Acquisition Corp	0.03%	1,342,700	$13M	new	+0.03 pp	new
HLTHilton Worldwide Holdings Inc.	0.03%	95,543	$12M	held	—	18 q
unresolvedHydrofarm Hldgs Group Inc	0.03%	175,000	$11M	trimmed−29%	0.00 pp	2 q
NARIInari Medical, Inc.	0.03%	109,951	$12M	added+4%	+0.01 pp	4 q
INNVInnovAge Holding Corp.	0.03%	500,000	$13M	new	+0.03 pp	new
LUXELuxExperience B.V.	0.03%	450,000	$13M	new	+0.03 pp	new
NFLXNetFlix Inc	0.03%	26,352	$14M	added+1%	−0.01 pp	31 q
unresolvedOlink Hldg AB	0.03%	376,695	$14M	new	+0.03 pp	new
PACBPacific Biosciences of California, Inc.	0.03%	385,786	$13M	trimmed−80%	−0.09 pp	3 q
unresolvedSoc Telemed Inc	0.03%	1,750,000	$11M	held	—	2 q
TTWOTake-Two Interactive Software Inc	0.03%	66,507	$12M	added+1%	0.00 pp	16 q
REALThe RealReal, Inc.	0.03%	500,000	$11M	added+43%	+0.01 pp	8 q
unresolvedTishman Speyer Innovation Co	0.03%	1,381,540	$14M	new	+0.03 pp	new
VRTXVertex Pharmaceuticals Inc	0.03%	60,113	$13M	trimmed−56%	−0.05 pp	15 q
VRAYQViewray Inc	0.03%	3,200,463	$14M	added+61%	+0.01 pp	10 q
AFIBAcutus Medical Inc	0.02%	615,000	$8M	added+32%	−0.01 pp	3 q
AAgilent Technologies Inc.	0.02%	56,065	$7M	added0%	0.00 pp	32 q
ALGNAlign Technology Inc	0.02%	15,535	$8M	held	—	32 q
AZNNAstrazeneca Plc-spons ADR	0.02%	144,508	$7M	trimmed−59%	−0.02 pp	12 q
BEAMBeam Therapeutics Inc.	0.02%	98,017	$8M	new	+0.02 pp	new
CMRCCommerce.com, Inc. Series 1	0.02%	134,036	$8M	held	—	3 q
KMXCarMax Inc.	0.02%	65,979	$9M	trimmed−0%	0.00 pp	32 q
ESEESCO Technologies, Inc.	0.02%	86,600	$9M	held	—	23 q
GMABGenmab A/S	0.02%	239,467	$8M	added+65%	+0.01 pp	2 q
LM05Liberty Media Corp-liberty-a	0.02%	185,000	$7M	held	—	20 q
WOOFPetco Health and Wellness Company, Inc. Class A	0.02%	385,000	$9M	new	+0.02 pp	new
POOLPool Corporation	0.02%	22,337	$8M	trimmed−20%	−0.01 pp	6 q
QLYSQualys, Inc.	0.02%	70,000	$7M	trimmed−53%	−0.03 pp	29 q
unresolvedSoc Telemed Inc	0.02%	1,500,000	$9M	held	—	2 q
SESea Limited	0.02%	35,355	$8M	new	+0.02 pp	new
PRKSUnited Parks & Resorts Inc.	0.02%	148,960	$7M	trimmed−51%	0.00 pp	3 q
SHWThe Sherwin-Williams Company	0.02%	11,402	$8M	trimmed−28%	−0.01 pp	18 q
SONYSony Group Corporation	0.02%	64,803	$7M	held	—	19 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.02%	23,786	$9M	added+39%	+0.01 pp	13 q
VRMVroom, Inc.	0.02%	218,416	$9M	trimmed−40%	−0.02 pp	4 q
ZMZoom Communications, Inc. Class A	0.02%	26,044	$8M	added+43%	0.00 pp	8 q
BHVNBiohaven Ltd.	0.02%	146,000	$10M	trimmed−8%	−0.01 pp	6 q
IACB.UIon Acquisition Corp 2 Ltd	0.02%	997,884	$10M	new	+0.02 pp	new
ABTAbbott Laboratories	0.01%	41,578	$5M	added+84%	0.00 pp	10 q
ABNBAirbnb, Inc. Class A	0.01%	15,418	$3M	trimmed−49%	0.00 pp	2 q
APLTApplied Therapeutics, Inc.	0.01%	237,800	$4M	added+87%	0.00 pp	5 q
unresolvedAtlas Crest Investment Corp	0.01%	502,000	$5M	held	—	2 q
BLIBerkeley Lights, Inc.	0.01%	50,000	$3M	held	—	3 q
CIThe Cigna Group	0.01%	11,600	$3M	added×2.8	+0.01 pp	2 q
DLRDigital Realty Trust, Inc.	0.01%	23,822	$3M	trimmed−80%	−0.03 pp	5 q
ENVEnvestnet, Inc.	0.01%	44,412	$3M	held	—	30 q
FASTFastenal Co	0.01%	42,920	$2M	held	—	32 q
HUMHumana Inc.	0.01%	10,550	$4M	added+18%	0.00 pp	11 q
INTUIntuit Inc	0.01%	6,095	$2M	added+26%	+0.01 pp	5 q
LSFLaird Superfood, Inc.	0.01%	75,000	$3M	trimmed−4%	0.00 pp	3 q
MANHManhattan Associates Inc	0.01%	49,500	$6M	trimmed−5%	0.00 pp	27 q
MRNAModerna, Inc.	0.01%	44,182	$6M	added×11.6	+0.01 pp	2 q
RHIRobert Half Inc.	0.01%	76,128	$6M	held	—	32 q
SEERSeer, Inc. Class A	0.01%	75,000	$4M	trimmed−50%	−0.01 pp	2 q
WORKSlack Technologies, Inc.	0.01%	132,140	$5M	trimmed−85%	−0.08 pp	6 q
TXMDTherapeuticsMD, Inc.	0.01%	3,831,500	$5M	held	—	29 q
TMOThermo Fisher Scientific, Inc.	0.01%	12,659	$6M	added+82%	0.00 pp	7 q
IPOAVirgin Galactic Holdings Inc	0.01%	150,000	$5M	held	—	6 q
ZTSZoetis Inc.	0.01%	19,228	$3M	added×3.2	+0.01 pp	6 q
unresolvedAltimeter Growth Corp	0.01%	397,909	$5M	held	—	2 q
VELOVelo3D, Inc.	0.01%	400,000	$4M	new	+0.01 pp	new
YACYucaipa Acquisition Corp	0.01%	590,500	$6M	held	—	3 q
TSEMTower Semiconductor Ltd	0.01%	152,785	$4M	trimmed−19%	0.00 pp	6 q
AFRMAffirm Holdings, Inc. Class A	0.00%	401	$28,000	new	0.00 pp	new
AINAlbany International Corp Class A	0.00%	115	$10,000	held	—	12 q
ALECAlector, Inc.	0.00%	23,802	$479,000	trimmed−3%	0.00 pp	8 q
ALXAlexander's Inc.	0.00%	5,000	$1M	held	—	32 q
APAMArtisan Partners Asset Management Inc.	0.00%	3,199	$167,000	trimmed−16%	0.00 pp	32 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$386,000	held	—	19 q
BLQADBlackrock Inc	0.00%	1,716	$1M	added×2.4	0.00 pp	13 q
BXPBXP, Inc.	0.00%	2,170	$220,000	trimmed−55%	0.00 pp	3 q
CMECME Group Inc.	0.00%	5,194	$1M	added×2.7	0.00 pp	32 q
CHTRCharter Comm Inc Del CL A New	0.00%	507	$313,000	trimmed−12%	0.00 pp	12 q
CYHCommunity Health Systems, Inc.	0.00%	100	$1,000	held	—	32 q
STZConstellation Brands, Inc.	0.00%	2,855	$651,000	added+22%	0.00 pp	12 q
CORCoresite Realty Corp	0.00%	5,848	$701,000	trimmed−48%	0.00 pp	5 q
COSTCostco Wholesale Corp	0.00%	1,324	$467,000	added+89%	0.00 pp	13 q
CCICrown Castle Inc.	0.00%	6,440	$1M	trimmed−20%	0.00 pp	13 q
DHRDanaher Corporation	0.00%	3,511	$790,000	held	—	13 q
DRNADicerna Pharmaceuticals, Inc.	0.00%	34,762	$889,000	trimmed−8%	0.00 pp	6 q
unresolvedDuck Creek Technologies	0.00%	5,500	$248,000	held	—	3 q
DREDuke Realty Corp.	0.00%	14,037	$589,000	trimmed−29%	0.00 pp	13 q
ECLEcolab, Inc.	0.00%	1,180	$253,000	held	—	4 q
STAYExtended Stay America, Inc. Paired Share	0.00%	50,311	$994,000	trimmed−5%	0.00 pp	4 q
FLTCorpay, Inc.	0.00%	180	$48,000	trimmed−100%	−0.12 pp	32 q
GPNGlobal Payments, Inc.	0.00%	2,600	$524,000	added+24%	0.00 pp	5 q
GSGoldman Sachs Group Inc.	0.00%	800	$262,000	held	—	19 q
GDRXGoodRx Holdings, Inc. Class A	0.00%	28,676	$1M	trimmed−96%	−0.07 pp	3 q
HCAHCA Healthcare, Inc.	0.00%	9,000	$2M	new	0.00 pp	new
JKHYHenry (Jack) & Associates	0.00%	3,300	$501,000	added+3%	0.00 pp	5 q
HSTHost Hotels & Resorts, Inc.	0.00%	44,306	$747,000	added×2.7	0.00 pp	4 q
PODDInsulet Corporation	0.00%	4,615	$1M	added+70%	0.00 pp	11 q
IQVIQVIA Holdings Inc.	0.00%	2,983	$576,000	trimmed−53%	0.00 pp	8 q
KWKennedy-wilson Holdings, Inc.	0.00%	51,159	$1M	trimmed−6%	0.00 pp	2 q
ELThe Estee Lauder Companies Inc. Class A	0.00%	821	$239,000	added+21%	0.00 pp	13 q
unresolvedMolecular Templates Inc	0.00%	45,000	$568,000	new	0.00 pp	new
MCOMoody's Corporation	0.00%	6,689	$2M	added+17%	0.00 pp	12 q
NCNOnCino, Inc.	0.00%	9,656	$644,000	held	—	3 q
NOVTNovanta Inc.	0.00%	10,431	$1M	held	—	16 q
OLOOlo Inc.	0.00%	5,000	$132,000	new	0.00 pp	new
6PMParamount Group Inc	0.00%	71,000	$719,000	new	0.00 pp	new
PKPark Hotels & Resorts Inc.	0.00%	10,706	$231,000	trimmed−37%	0.00 pp	2 q
PCTYPaylocity Holding Corporation	0.00%	2,356	$424,000	added+37%	0.00 pp	6 q
PEBPebblebrook Hotel Trust	0.00%	53,505	$1M	trimmed−20%	0.00 pp	4 q
PTONPeloton Interactive, Inc. Class A	0.00%	1,879	$211,000	added+10%	0.00 pp	2 q
PGProcter & Gamble Company	0.00%	1,796	$243,000	held	—	19 q
PSAPublic Storage	0.00%	2,369	$585,000	new	0.00 pp	new
QCOMQualcomm Inc	0.00%	4,000	$530,000	held	—	19 q
SJMThe J.M. Smucker Company	0.00%	251	$32,000	held	—	19 q
S76Store Capital Corp	0.00%	21,725	$728,000	trimmed−19%	0.00 pp	6 q
SUISun Communities, Inc	0.00%	8,091	$1M	added+7%	0.00 pp	11 q
TRNOTerreno Realty Corporation	0.00%	7,043	$407,000	trimmed−12%	0.00 pp	5 q
TXNTexas Instruments Incorporated	0.00%	2,305	$436,000	added+37%	0.00 pp	13 q
VCELVericel Corporation	0.00%	3,976	$221,000	new	0.00 pp	new
WELLWelltower Inc.	0.00%	11,146	$798,000	new	0.00 pp	new
WINGWingstop Inc	0.00%	10,000	$1M	held	—	24 q
ACNAccenture PLC	0.00%	6,624	$2M	added+24%	0.00 pp	13 q
BPY-UCADBrookfield Property Partners	0.00%	2,724	$116,000	trimmed−59%	0.00 pp	3 q
BIPBrookfield Infrastructure Partners L.P.	0.00%	31,192	$2M	added+2%	0.00 pp	9 q
MRKTIhs Markit Ltd	0.00%	17,516	$2M	added+21%	0.00 pp	10 q
IACAIon Acquisition Corp 1 Ltd-a	0.00%	85,365	$863,000	trimmed−96%	−0.06 pp	2 q
0VQJLTe Connectivity Ltd	0.00%	1,958	$253,000	held	—	13 q
BKNGBooking Holdings Inc.	—	−22,250	—	exited	−0.12 pp	—
DASHDoorDash, Inc. Class A	—	−348,747	—	exited	−0.12 pp	—
FMXFomento Economico Mexicano, S.a.b. De C.v.	—	−354,965	—	exited	−0.07 pp	—
LILi Auto Inc.	—	−814,867	—	exited	−0.06 pp	—
OSWOneSpaWorld Holdings Limited	—	−2,307,500	—	exited	−0.06 pp	—
QSQuantumScape Corporation Class A	—	−200,000	—	exited	−0.04 pp	—
VNETVNET Group, Inc.	—	−465,040	—	exited	−0.04 pp	—
TMHCTaylor Morrison Home Corporation	—	−490,894	—	exited	−0.03 pp	—
unresolvedLongview Acquisition Corp	—	−450,000	—	exited	−0.02 pp	—
VITLVital Farms, Inc.	—	−300,000	—	exited	−0.02 pp	—
ABCLAbCellera Biologics Inc.	—	−99,621	—	exited	−0.01 pp	—
RDFNRedfin Corporation	—	−34,640	—	exited	−0.01 pp	—
SUMSummit Materials, Inc. Class A	—	−250,000	—	exited	−0.01 pp	—
DGNR.UDragoneer Growth Opportuniti	—	−397,990	—	exited	−0.01 pp	—
APIAgora, Inc.	—	−43,971	—	exited	0.00 pp	—
NVTAInvitae Corporation	—	−1,403	—	exited	0.00 pp	—
MASIMasimo Corporation	—	−900	—	exited	0.00 pp	—
RKTRocket Companies, Inc.	—	−5,000	—	exited	0.00 pp	—
SNYSanofi	—	−37,394	—	exited	0.00 pp	—
TIFTiffany & Co.	—	−3,000	—	exited	0.00 pp	—
TRTrillium Therapeutics Inc	—	−26,441	—	exited	0.00 pp	—