Baron Capital

Q3 2021 13F · by Ron Baron, CEO

As of: Sep 30, 2021
Filed: Nov 12, 2021
US stock: $44.1B · prev $43.7B
Positions: 397 · prev 401
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves395 since the prior filing

+3.9 pp in · −3.9 pp out

New 33 +2.06 pp
Added 183 +1.80 pp
Trimmed 142 −2.15 pp
Exited 37 −1.73 pp

The book

Diversified · behaves like 45 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 17% a year, about 5.7 years per position

Low
Moderate
High

Top 5 positions25% of US stock

Positions397 in this filing · 37 exited


TSLATesla, Inc.	10.57%	6,016,608	$4.7B	trimmed−2%	+1.01 pp	31 q
ITGartner, Inc.	3.76%	5,469,633	$1.7B	trimmed−1%	+0.69 pp	34 q
IDXXIdexx Laboratories Inc	3.65%	2,593,065	$1.6B	trimmed−4%	−0.25 pp	34 q
CSGPCoStar Group Inc	3.63%	18,639,739	$1.6B	trimmed−1%	+0.07 pp	34 q
MTNVail Resorts, Inc.	3.33%	4,405,961	$1.5B	trimmed−1%	+0.10 pp	34 q
MSCIMSCI, Inc.	2.99%	2,169,552	$1.3B	trimmed−1%	+0.31 pp	34 q
FDSFactset Research Systems	2.37%	2,650,277	$1.0B	trimmed−1%	+0.31 pp	34 q
ACGLArch Capital Group Ltd	1.83%	21,194,167	$809M	trimmed−1%	−0.08 pp	34 q
PENNPENN Entertainment, Inc.	1.71%	10,415,512	$755M	trimmed−0%	−0.12 pp	34 q
TECHBio-Techne Corp.	1.64%	1,493,878	$724M	trimmed−0%	+0.10 pp	28 q
AKXAnsys Inc	1.59%	2,066,854	$704M	trimmed−3%	−0.11 pp	34 q
GWREGuidewire Software, Inc.	1.55%	5,751,010	$684M	added+1%	+0.08 pp	34 q
CHHChoice Hotels Intnl.	1.33%	4,631,990	$585M	trimmed−0%	+0.07 pp	34 q
WSTWest Pharmaceutical Services, Inc.	1.21%	1,254,099	$532M	trimmed−1%	+0.17 pp	34 q
MTDMettler-Toledo International	1.19%	381,273	$525M	added0%	−0.02 pp	34 q
SCHWThe Charles Schwab Corporation	1.08%	6,520,345	$475M	trimmed−3%	−0.04 pp	34 q
IRDMIridium Communications Inc.	1.05%	11,632,362	$464M	trimmed−1%	−0.03 pp	30 q
VACMarriott Vacations Worldwide Corporation	0.98%	2,759,757	$434M	added+2%	−0.01 pp	34 q
HHyatt Hotels Corporation	0.94%	5,392,998	$416M	added+15%	+0.11 pp	34 q
GLPIGaming and Leisure Properties, Inc.	0.93%	8,894,012	$412M	added+1%	−0.01 pp	32 q
RRRRed Rock Resorts, Inc. Class A	0.93%	7,979,826	$409M	added+4%	+0.19 pp	22 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.90%	3,546,219	$396M	added+19%	+0.08 pp	34 q
TREXTrex Company, Inc.	0.83%	3,584,598	$365M	trimmed−4%	−0.04 pp	31 q
DAYDayforce, Inc.	0.80%	3,124,775	$352M	added+3%	+0.13 pp	14 q
BFAMBright Horizons Family Solutions Inc.	0.79%	2,511,169	$350M	trimmed−3%	−0.08 pp	34 q
KNSLKinsale Capital Group, Inc.	0.77%	2,103,399	$340M	added+2%	−0.01 pp	20 q
GOOGAlphabet Inc. Class C	0.73%	120,430	$321M	trimmed−1%	+0.03 pp	30 q
DAVAEndava plc	0.73%	2,365,265	$321M	trimmed−2%	+0.10 pp	13 q
PRIPrimerica, Inc.	0.73%	2,092,304	$321M	trimmed−1%	−0.01 pp	34 q
BABAAlibaba Group Holding Limited	0.72%	2,153,973	$319M	trimmed−7%	−0.49 pp	29 q
MORNMorningstar, Inc.	0.71%	1,209,419	$313M	trimmed−0%	−0.01 pp	34 q
AMZNAmazon.Com Inc	0.66%	88,926	$292M	added0%	−0.04 pp	34 q
ZGZillow Group Inc Class A	0.61%	3,021,287	$268M	trimmed−1%	−0.25 pp	27 q
WIXWIX.com Ltd.	0.61%	1,383,695	$271M	trimmed−5%	−0.36 pp	20 q
RNGRingcentral, Inc.	0.59%	1,199,489	$261M	added0%	−0.21 pp	13 q
SBACSBA Communications Corp	0.59%	790,710	$261M	added0%	+0.02 pp	20 q
GTMZoomInfo Technologies Inc	0.59%	4,243,197	$260M	trimmed−0%	+0.08 pp	6 q
AREAlexandria Real Estate Equities, Inc.	0.56%	1,302,554	$249M	trimmed−1%	+0.01 pp	34 q
SSNCSS&C Technologies Inc	0.55%	3,529,723	$245M	trimmed−9%	−0.09 pp	34 q
VEEVVeeva Systems Inc.	0.54%	825,414	$238M	trimmed−0%	−0.05 pp	18 q
CNSCohen & Steers Inc.	0.53%	2,785,724	$233M	added+1%	+0.01 pp	34 q
VRSKVerisk Analytics, Inc.	0.53%	1,175,029	$235M	trimmed−0%	+0.06 pp	34 q
EPAMEpam Systems, Inc.	0.52%	403,680	$230M	trimmed−1%	+0.05 pp	24 q
SPOTSpotify Technology S.A.	0.52%	1,017,115	$229M	added×2.1	+0.22 pp	14 q
SITESiteOne Landscape Supply, Inc.	0.51%	1,125,514	$225M	added+3%	+0.09 pp	22 q
ICLRIcon Plc	0.51%	853,686	$224M	added+27%	+0.19 pp	34 q
XLRNAcceleron Pharma Inc.	0.50%	1,292,998	$223M	trimmed−1%	+0.13 pp	18 q
DXCMDexCom, Inc.	0.49%	399,246	$218M	added+1%	+0.10 pp	34 q
DEIDouglas Emmett, Inc.	0.48%	6,750,440	$213M	trimmed−5%	−0.07 pp	34 q
SHOPShopify Inc. Class A subordinate voting shares	0.47%	152,937	$207M	added+15%	+0.02 pp	8 q
FNDFloor & Decor Holdings, Inc.	0.46%	1,664,622	$201M	added+1%	+0.06 pp	18 q
MANUManchester United PLC	0.46%	10,500,761	$203M	trimmed−18%	+0.01 pp	34 q
ILMNIllumina Inc	0.45%	486,267	$197M	trimmed−9%	−0.13 pp	34 q
EFOREverforth, Inc.	0.42%	1,626,714	$184M	added+1%	+0.06 pp	13 q
IBPInstalled Building Products, Inc.	0.42%	1,712,601	$184M	trimmed−3%	−0.07 pp	16 q
TRUTransUnion	0.42%	1,646,788	$185M	trimmed−0%	+0.01 pp	18 q
ZZillow Group, Inc. Class C	0.42%	2,114,761	$186M	added+3%	−0.15 pp	25 q
ARGXargenx SE	0.38%	550,666	$166M	added0%	0.00 pp	16 q
METAMeta Platforms, Inc. Class A	0.37%	477,496	$162M	trimmed−1%	−0.01 pp	34 q
ZLABZai Lab Limited	0.37%	1,545,113	$163M	trimmed−12%	−0.34 pp	15 q
PEGAPegasystems Inc	0.36%	1,255,130	$160M	trimmed−4%	−0.05 pp	34 q
AZPNAspen Technology Inc	0.35%	1,254,555	$154M	added+1%	−0.04 pp	25 q
VRTVertiv Holdings Co Class A	0.35%	6,349,922	$153M	trimmed−9%	−0.09 pp	7 q
MSFTMicrosoft Corp	0.34%	536,801	$151M	added+1%	+0.01 pp	16 q
SMRTSmartRent, Inc.	0.34%	11,647,629	$152M	new	+0.34 pp	new
CLVTClarivate Plc	0.33%	6,556,550	$144M	added+1%	−0.08 pp	10 q
EQIXEquinix, Inc.	0.32%	181,211	$143M	trimmed−6%	−0.03 pp	27 q
GHGuardant Health, Inc.	0.32%	1,130,049	$141M	trimmed−1%	0.00 pp	12 q
TRIPTripAdvisor, Inc.	0.32%	4,158,881	$141M	trimmed−7%	−0.09 pp	3 q
VRSNVeriSign Inc	0.31%	663,767	$136M	trimmed−0%	−0.04 pp	34 q
GDSGDS Holdings Limited	0.30%	2,354,546	$133M	trimmed−50%	−0.54 pp	15 q
ROPRoper Technologies, Inc.	0.30%	293,438	$131M	trimmed−0%	−0.02 pp	34 q
BWINThe Baldwin Insurance Group, Inc. Class A	0.29%	3,888,113	$129M	added+3%	+0.06 pp	8 q
unresolvedBrookfield Asset Mgmt Inc	0.29%	2,409,661	$129M	added+6%	+0.02 pp	34 q
MKTXMarketAxess Holdings Inc.	0.29%	309,095	$130M	trimmed−0%	−0.04 pp	25 q
TTDThe Trade Desk, Inc.	0.29%	1,843,887	$130M	trimmed−16%	−0.10 pp	20 q
MELIMercado Libre, Inc	0.28%	73,146	$123M	trimmed−1%	+0.02 pp	13 q
HLIHoulihan Lokey, Inc.	0.27%	1,312,872	$121M	added+1%	+0.03 pp	16 q
ALTRAltair Engineering Inc. Class A	0.26%	1,642,084	$113M	added0%	0.00 pp	16 q
CBRECbre Group, Inc.	0.26%	1,183,196	$115M	added+2%	+0.03 pp	34 q
CGThe Carlyle Group Inc.	0.26%	2,457,560	$116M	trimmed−0%	0.00 pp	2 q
DTDynatrace, Inc.	0.26%	1,639,224	$116M	added+1%	+0.04 pp	9 q
AXNXAxonics, Inc.	0.25%	1,704,434	$111M	added+4%	+0.01 pp	7 q
CRWDCrowdStrike Holdings, Inc. Class A	0.25%	456,215	$112M	added+8%	+0.01 pp	10 q
LBRDKLiberty Broadband Corporation Class C	0.25%	640,453	$111M	added0%	0.00 pp	28 q
SDGRSchrodinger, Inc.	0.24%	1,927,928	$105M	trimmed−5%	−0.11 pp	7 q
STNEStoneCo Ltd. Class A	0.24%	2,999,096	$104M	added+24%	−0.13 pp	12 q
COLDAmericold Realty Trust, Inc.	0.23%	3,456,126	$100M	trimmed−14%	−0.12 pp	15 q
BYDBoyd Gaming Corporation	0.23%	1,592,405	$101M	added+3%	+0.01 pp	19 q
TWLOTwilio Inc.	0.23%	318,858	$102M	added+7%	−0.04 pp	10 q
XPXP Inc. Class A	0.23%	2,579,240	$104M	added+2%	−0.02 pp	8 q
CGNXCognex Corp	0.22%	1,215,780	$98M	added+1%	−0.01 pp	34 q
unresolvedCooper Cos Inc/The	0.22%	240,241	$99M	trimmed−0%	0.00 pp	31 q
KTOSKratos Defense & Security Solutions, Inc.	0.22%	4,278,630	$95M	added+4%	−0.05 pp	7 q
MRCYMercury Systems Inc.	0.22%	2,047,169	$97M	added+1%	−0.09 pp	27 q
SILKSilk Road Medical, Inc.	0.22%	1,737,233	$96M	added+4%	+0.04 pp	10 q
AVLRAvalara, Inc.	0.21%	526,200	$92M	added+3%	+0.02 pp	3 q
INSPInspire Medical Systems, Inc.	0.21%	390,175	$91M	added+2%	+0.04 pp	11 q
NVDANvidia Corp	0.21%	455,317	$94M	added+43%	+0.06 pp	13 q
NBISNebius Group N.V. Class A	0.20%	1,126,717	$90M	added+23%	+0.05 pp	23 q
AVNTAvient Corporation	0.19%	1,841,436	$85M	added+2%	−0.01 pp	8 q
FISFidelity National Information Services, Inc.	0.19%	704,934	$86M	trimmed−2%	−0.04 pp	9 q
RPAYRepay Holdings Corporation Class A	0.19%	3,567,476	$82M	added+1%	0.00 pp	8 q
SFIXStitch Fix, Inc. Class A	0.19%	2,062,275	$82M	trimmed−0%	−0.10 pp	4 q
TXG10x Genomics, Inc. Class A	0.19%	584,084	$85M	trimmed−1%	−0.07 pp	9 q
AFYAAfya Limited Class A	0.19%	4,145,038	$82M	added+12%	−0.03 pp	9 q
CDWCDW Corporation	0.18%	446,345	$81M	trimmed−0%	0.00 pp	18 q
IEXIDEX Corporation	0.18%	385,985	$80M	trimmed−0%	−0.01 pp	29 q
SNOWSnowflake Inc.	0.18%	263,947	$80M	trimmed−1%	+0.03 pp	5 q
unresolvedSofi Technologies Inc	0.18%	4,891,024	$78M	trimmed−2%	−0.04 pp	2 q
TDGTransDigm Group Incorporated	0.18%	126,736	$79M	added+1%	−0.01 pp	34 q
APHAmphenol Corporation	0.17%	1,017,102	$74M	trimmed−0%	+0.01 pp	10 q
CAKECheesecake Factory (The)	0.17%	1,579,860	$74M	added+32%	+0.02 pp	34 q
NTRANatera, Inc.	0.17%	655,177	$73M	new	+0.17 pp	new
OZONOzon Holdings PLC	0.17%	1,519,069	$77M	added+12%	−0.01 pp	4 q
JBTMJBT Marel Corporation	0.16%	508,377	$71M	added+2%	0.00 pp	19 q
JLLJones Lang LaSalle, Inc.	0.16%	285,284	$71M	added+8%	+0.04 pp	9 q
NEOGNeogen Corp	0.16%	1,669,962	$73M	trimmed−3%	−0.02 pp	34 q
unresolvedOpendoor Technologies Inc	0.16%	3,454,603	$71M	trimmed−7%	+0.01 pp	2 q
NOWServicenow, Inc.	0.16%	110,156	$69M	added+5%	+0.03 pp	25 q
TFXTeleflex Incorporated	0.16%	186,657	$70M	trimmed−16%	−0.04 pp	22 q
YUMCYum China Holdings, Inc.	0.16%	1,233,892	$72M	added+25%	+0.01 pp	5 q
AIYActivision Blizzard Inc	0.15%	835,321	$65M	added+1%	−0.03 pp	15 q
GDYNGrid Dynamics Holdings, Inc. Class A	0.15%	2,333,784	$68M	trimmed−8%	+0.06 pp	7 q
HLMNHillman Solutions Corp.	0.15%	5,445,698	$65M	new	+0.15 pp	new
HUBSHubspot, Inc.	0.15%	98,624	$67M	added+62%	+0.07 pp	3 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.15%	1,266,688	$65M	added+1%	+0.01 pp	22 q
ROLRollins, Inc.	0.15%	1,848,047	$65M	trimmed−0%	+0.01 pp	21 q
UTZUtz Brands, Inc.	0.15%	3,858,967	$66M	added+3%	−0.04 pp	6 q
AMTAmerican Tower Corporation	0.14%	228,564	$61M	added+6%	+0.01 pp	34 q
ARWRArrowhead Research Corporation	0.14%	1,007,594	$63M	trimmed−1%	−0.05 pp	12 q
AZEKThe AZEK Company Inc.	0.14%	1,700,413	$62M	trimmed−1%	−0.03 pp	6 q
INDIindie Semiconductor, Inc. Class A	0.14%	4,920,761	$61M	added×2.8	+0.10 pp	2 q
PARPAR Technology Corp.	0.14%	999,376	$61M	added+32%	+0.02 pp	13 q
PLNTPlanet Fitness, Inc.	0.14%	810,373	$64M	added+1%	0.00 pp	15 q
VVISA Inc.	0.14%	283,962	$63M	added+1%	−0.01 pp	34 q
WCNWaste Connections, Inc.	0.14%	508,023	$64M	trimmed−15%	−0.02 pp	21 q
FVRRFiverr International Ltd.	0.14%	347,842	$64M	trimmed−1%	−0.06 pp	10 q
ADBEAdobe Inc.	0.13%	97,596	$56M	added0%	0.00 pp	16 q
DNLIDenali Therapeutics Inc.	0.13%	1,127,919	$57M	trimmed−10%	−0.10 pp	16 q
FICOFair Isaac Corporation	0.13%	145,858	$58M	trimmed−0%	−0.04 pp	8 q
HQYHealthEquity, Inc	0.13%	852,778	$55M	trimmed−15%	−0.05 pp	29 q
LOWLowe's Companies Inc.	0.13%	279,643	$57M	held	—	12 q
MAMastercard Incorporated	0.13%	170,971	$59M	added+2%	−0.01 pp	34 q
PYPLPayPal Holdings, Inc.	0.13%	223,949	$58M	added+3%	−0.01 pp	11 q
SKINSkinHealth Systems Inc. Class A	0.13%	2,185,179	$57M	trimmed−14%	+0.03 pp	2 q
WEXWEX Inc.	0.13%	329,284	$58M	trimmed−12%	−0.04 pp	34 q
DLODLocal Limited Class A	0.13%	1,063,238	$58M	trimmed−6%	−0.01 pp	2 q
BNTXBioNTech SE	0.12%	198,804	$54M	trimmed−39%	−0.05 pp	4 q
CDNACareDx, Inc.	0.12%	834,218	$53M	added+15%	−0.03 pp	14 q
DRVNDriven Brands Holdings Inc.	0.12%	1,885,696	$54M	added+2%	−0.01 pp	3 q
ETWOWE2OPEN Parent Ho -CW25	0.12%	4,886,792	$54M	added+63%	+0.04 pp	2 q
HGVHilton Grand Vacations Inc.	0.12%	1,127,236	$54M	added+4%	+0.02 pp	19 q
HLLYHolley Inc.	0.12%	4,336,738	$52M	new	+0.12 pp	new
ISRGIntuitive Surgical Inc.	0.12%	55,199	$55M	trimmed−5%	0.00 pp	20 q
INVHInvitation Homes Inc.	0.12%	1,410,556	$54M	added+32%	+0.03 pp	19 q
MCMoelis & Company	0.12%	881,329	$55M	trimmed−20%	−0.02 pp	30 q
TROWT Rowe Price Group Inc	0.12%	270,873	$53M	trimmed−0%	0.00 pp	34 q
REXRRexford Industrial Realty, Inc.	0.12%	897,615	$51M	added+23%	+0.02 pp	28 q
SESea Limited	0.12%	172,785	$55M	added×4.0	+0.09 pp	3 q
SPGSimon Property Group, Inc.	0.12%	402,260	$52M	added+5%	+0.01 pp	4 q
unresolvedVelo3D Inc	0.12%	6,478,565	$53M	new	+0.12 pp	new
BERYBerry Global Group, Inc.	0.11%	810,375	$49M	added+1%	−0.01 pp	34 q
CWANClearwater Analytics Hds-a	0.11%	1,971,229	$50M	new	+0.11 pp	new
DKNGDraftKings Inc. Class A	0.11%	1,003,460	$48M	added+2%	−0.01 pp	6 q
FIGSFIGS, Inc.	0.11%	1,248,204	$46M	added+15%	−0.01 pp	2 q
FRCBFirst Republic Bk CA	0.11%	249,806	$48M	trimmed−0%	0.00 pp	34 q
JBI/WSJanus Parent Inc -CW26	0.11%	4,000,000	$49M	held	—	2 q
75ZSoho House & Co Inc	0.11%	4,030,842	$50M	new	+0.11 pp	new
PGNYProgyny, Inc.	0.11%	836,718	$47M	added+22%	+0.02 pp	8 q
RBCRBC Bearings Incorporated	0.11%	228,644	$49M	added+63%	+0.05 pp	28 q
FOURShift4 Payments, Inc.	0.11%	637,089	$49M	added+4%	−0.02 pp	6 q
TNLTravel + Leisure Co.	0.11%	886,461	$48M	added+45%	+0.03 pp	3 q
GLNGGolar LNG Ltd	0.11%	3,800,137	$49M	trimmed−21%	−0.04 pp	34 q
ACMRACM Research, Inc. Class A	0.10%	390,547	$43M	added+21%	+0.02 pp	3 q
AEISAdvanced Energy Industries Inc	0.10%	496,048	$44M	added+21%	−0.01 pp	8 q
CZRCaesars Entertainment, Inc.	0.10%	409,304	$46M	new	+0.10 pp	new
NETCloudflare, Inc. Class A, par value $0.001 per share	0.10%	400,312	$45M	trimmed−2%	0.00 pp	9 q
DDOGDatadog, Inc. Class A	0.10%	322,944	$46M	added0%	+0.02 pp	9 q
FTCHQFarfetch Limited A	0.10%	1,130,025	$42M	trimmed−23%	−0.07 pp	4 q
JBGSJBG SMITH Properties	0.10%	1,538,519	$46M	trimmed−3%	−0.01 pp	2 q
DNUTKrispy Kreme, Inc.	0.10%	3,048,088	$43M	new	+0.10 pp	new
LENLennar Corporation Class A	0.10%	464,000	$43M	added×2.3	+0.05 pp	12 q
MGMMgm Resorts International	0.10%	983,514	$42M	new	+0.10 pp	new
MSGSMadison Square Garden Sports Corp.	0.10%	227,927	$42M	added+1%	+0.01 pp	24 q
PINSPinterest, Inc. Class A	0.10%	860,520	$44M	trimmed−20%	−0.09 pp	5 q
XYZBlock, Inc.	0.10%	178,999	$43M	added+30%	+0.02 pp	6 q
VCYTVeracyte, Inc.	0.10%	938,474	$44M	added+13%	+0.02 pp	10 q
BAPCredicorp LTD	0.10%	381,207	$42M	added+15%	+0.01 pp	2 q
BILLBILL Holdings, Inc.	0.09%	152,679	$41M	trimmed−4%	+0.02 pp	8 q
unresolvedHydrofarm Hldgs Group Inc	0.09%	1,059,233	$40M	added+41%	−0.01 pp	4 q
ONTOnterris, Inc.	0.09%	651,537	$40M	added+9%	+0.02 pp	5 q
OLLIOllie's Bargain Outlet Holdings, Inc.	0.09%	642,800	$39M	trimmed−22%	−0.07 pp	17 q
PAYAPaya Holdings Inc. Class A	0.09%	3,592,268	$39M	added+2%	0.00 pp	4 q
PLDPrologis, Inc.	0.09%	318,733	$40M	added+5%	+0.01 pp	20 q
RVNCRevance Therapeutics, Inc.	0.09%	1,392,408	$39M	added+23%	+0.01 pp	11 q
SAILSailPoint, Inc.	0.09%	884,213	$38M	added+38%	+0.02 pp	4 q
VRNSVaronis Systems, Inc.	0.09%	672,988	$41M	added+8%	+0.01 pp	10 q
VMCVulcan Materials Company(Holding Company)	0.09%	231,256	$39M	held	—	11 q
WTWWillis Towers Watson Public Limited Company	0.09%	171,162	$40M	trimmed−0%	0.00 pp	23 q
KRNTKornit Digital Ltd.	0.09%	276,094	$40M	added+9%	+0.02 pp	23 q
GOOGLAlphabet Inc. Class A	0.08%	13,060	$35M	added+3%	+0.01 pp	25 q
BVBrightView Holdings, Inc.	0.08%	2,285,552	$34M	added+10%	0.00 pp	12 q
BASECouchbase, Inc.	0.08%	1,077,907	$34M	new	+0.08 pp	new
CYRXCryoPort, Inc.	0.08%	557,094	$37M	added+6%	0.00 pp	6 q
FAFirst Advantage Corporation	0.08%	1,777,271	$34M	added+2%	0.00 pp	2 q
HHCThe Howard Hughes Corporation	0.08%	416,910	$37M	added+6%	−0.01 pp	4 q
SHLSShoals Technologies Group, Inc. Class A	0.08%	1,220,794	$34M	trimmed−14%	−0.04 pp	3 q
SIX1Six Flags Entertainment Corp.	0.08%	872,190	$37M	added+4%	0.00 pp	4 q
SNAPSnap Inc.	0.08%	452,621	$33M	trimmed−0%	+0.01 pp	7 q
ZSZscaler, Inc.	0.08%	134,956	$35M	trimmed−1%	+0.01 pp	15 q
unresolvedDiversey Hldgs Ltd	0.08%	2,108,657	$34M	trimmed−0%	−0.01 pp	3 q
ELSEquity Lifestyle Properties, Inc.	0.07%	419,146	$33M	added+6%	0.00 pp	15 q
VMRKVivmark Residential	0.07%	367,484	$30M	added+62%	+0.03 pp	19 q
EWCZEuropean Wax Center, Inc. Class A	0.07%	1,045,637	$29M	new	+0.07 pp	new
EVBGEverbridge, Inc.	0.07%	216,783	$33M	added+1%	0.00 pp	7 q
HEI.AHeico Corp Cl A	0.07%	252,298	$30M	added+6%	0.00 pp	15 q
INGNInogen Inc	0.07%	740,144	$32M	added+5%	−0.04 pp	9 q
LSXMKLiberty Media Cor-siriusxm C	0.07%	625,000	$30M	held	—	13 q
WOOFPetco Health and Wellness Company, Inc. Class A	0.07%	1,412,047	$30M	added×2.6	+0.04 pp	3 q
PINGPing Identity Holding Corp	0.07%	1,345,781	$33M	trimmed−12%	−0.01 pp	9 q
SWAVShockwave Medical, Inc.	0.07%	155,360	$32M	added+2%	0.00 pp	6 q
TWTradeweb Markets Inc. Class A	0.07%	374,249	$30M	added+1%	0.00 pp	10 q
VRAYQViewray Inc	0.07%	4,400,929	$32M	added+16%	+0.01 pp	12 q
ESNTEssent Group LTD	0.07%	729,676	$32M	held	—	21 q
ASMLASML Holding NV	0.07%	43,055	$32M	trimmed−5%	0.00 pp	33 q
ALKTAlkami Technology, Inc.	0.06%	1,090,701	$27M	added+67%	+0.01 pp	2 q
ALGMAllegro MicroSystems, Inc.	0.06%	778,795	$25M	trimmed−11%	0.00 pp	4 q
AMHAmerican Homes 4 Rent	0.06%	700,088	$27M	trimmed−6%	−0.01 pp	18 q
DHID.R. Horton Inc.	0.06%	327,071	$27M	added×3.0	+0.04 pp	12 q
RDYDr. Reddy's Laboratories Limited	0.06%	384,299	$25M	trimmed−0%	0.00 pp	11 q
JAMFJamf Holding Corp.	0.06%	702,557	$27M	added+3%	+0.01 pp	5 q
LFUSLittelfuse Inc	0.06%	98,608	$27M	trimmed−0%	0.00 pp	23 q
MGPMGM Growth Properties LLC Class A representing limited liability company interests	0.06%	677,294	$26M	trimmed−3%	0.00 pp	22 q
QLYSQualys, Inc.	0.06%	232,500	$26M	added×3.3	+0.04 pp	31 q
VNOVornado Realty Trust	0.06%	609,684	$26M	trimmed−40%	−0.05 pp	4 q
WDAYWorkday, Inc. Class A	0.06%	98,147	$25M	added+28%	+0.02 pp	3 q
ICHRIchor Holdings	0.06%	635,384	$26M	added+8%	−0.01 pp	20 q
unresolvedNew Frontier Health Corp	0.06%	2,541,395	$29M	trimmed−1%	−0.01 pp	8 q
GLOBGlobant S.a.	0.06%	94,663	$27M	added+7%	+0.02 pp	22 q
NVMINova Ltd.	0.06%	279,063	$29M	added+9%	0.00 pp	12 q
BBIOBridgeBio Pharma, Inc.	0.05%	487,447	$23M	trimmed−30%	−0.05 pp	4 q
CORCoresite Realty Corp	0.05%	168,609	$23M	trimmed−17%	−0.01 pp	7 q
DHDefinitive Healthcare Corp. Class A	0.05%	500,000	$21M	new	+0.05 pp	new
DVDoubleVerify Holdings, Inc.	0.05%	650,377	$22M	trimmed−26%	−0.04 pp	2 q
EWEdwards Lifesciences Corp	0.05%	195,546	$22M	trimmed−0%	0.00 pp	34 q
ETWOE2open Parent Holdings, Inc.	0.05%	2,114,207	$24M	trimmed−15%	−0.02 pp	3 q
unresolvedForgerock Inc	0.05%	623,000	$24M	new	+0.05 pp	new
FBINFortune Brands Innovations, Inc.	0.05%	241,821	$22M	added+4%	0.00 pp	6 q
HDHome Depot, Inc.	0.05%	63,144	$21M	held	—	32 q
OKTAOkta, Inc. Class A	0.05%	91,882	$22M	added+41%	+0.01 pp	18 q
OPENOpendoor Technologies Inc	0.05%	1,089,780	$22M	added×7.4	+0.04 pp	4 q
SPGIS&P Global Inc.	0.05%	56,412	$24M	added+2%	0.00 pp	15 q
TOLToll Brothers, Inc.	0.05%	359,498	$20M	added×2.1	+0.03 pp	6 q
unresolvedAtlassian Corp Plc	0.05%	51,282	$20M	trimmed−0%	+0.02 pp	2 q
ACVAACV Auctions Inc.	0.04%	1,101,255	$20M	trimmed−29%	−0.05 pp	3 q
AATAmerican Assets Trust, Inc.	0.04%	508,452	$19M	trimmed−49%	−0.04 pp	34 q
APPApplovin Corporation Class A	0.04%	218,970	$16M	added+75%	+0.02 pp	2 q
CERSCerus Corp	0.04%	2,932,952	$18M	added+12%	0.00 pp	28 q
CPNGCoupang, Inc.	0.04%	707,648	$20M	held	—	3 q
BROSDutch Bros Inc.	0.04%	425,000	$18M	new	+0.04 pp	new
EAElectronic Arts Inc	0.04%	125,017	$18M	added0%	0.00 pp	19 q
0C3Endeavor Group Hold-class A	0.04%	650,000	$19M	held	—	2 q
HEIHEICO Corporation	0.04%	125,993	$17M	held	—	14 q
HLIOHelios Technologies, Inc.	0.04%	214,705	$18M	trimmed−28%	−0.01 pp	10 q
unresolvedKhosla Ventures Acqustn Co I	0.04%	1,594,823	$16M	new	+0.04 pp	new
SPHRSphere Entertainment Co.	0.04%	227,930	$17M	added+1%	0.00 pp	6 q
unresolvedMarkforged Holding Corp	0.04%	2,681,782	$18M	new	+0.04 pp	new
MXCTMaxCyte, Inc.	0.04%	1,543,634	$19M	new	+0.04 pp	new
MRNAModerna, Inc.	0.04%	49,332	$19M	trimmed−24%	0.00 pp	4 q
NFLXNetFlix Inc	0.04%	26,631	$16M	trimmed−0%	+0.01 pp	33 q
PDDPDD Holdings Inc.	0.04%	205,378	$19M	trimmed−2%	−0.02 pp	13 q
RXRXRecursion Pharmaceuticals, Inc. Class A	0.04%	695,800	$16M	added+64%	0.00 pp	2 q
unresolvedTpi Composites Inc	0.04%	572,934	$19M	trimmed−18%	−0.04 pp	20 q
BHVNBiohaven Ltd.	0.04%	112,517	$16M	trimmed−23%	+0.01 pp	8 q
ACCDAccolade, Inc.	0.03%	355,214	$15M	added+10%	−0.01 pp	5 q
AFIBAcutus Medical Inc	0.03%	1,255,162	$11M	added+34%	−0.01 pp	5 q
ADPTAdaptive Biotechnologies Corporation	0.03%	352,825	$12M	trimmed−25%	−0.01 pp	10 q
AZTAAzenta, Inc.	0.03%	125,000	$13M	new	+0.03 pp	new
CLNSDigitalBridge Group, Inc.	0.03%	2,336,955	$14M	added+11%	−0.01 pp	5 q
GMABGenmab A/S	0.03%	263,067	$11M	trimmed−1%	+0.01 pp	4 q
NARIInari Medical, Inc.	0.03%	173,140	$14M	added+44%	0.00 pp	6 q
LBRDALiberty Broadband Corporation Class A	0.03%	81,304	$14M	added+2%	0.00 pp	28 q
LM05Liberty Media Corp-liberty-a	0.03%	261,479	$12M	added+41%	+0.01 pp	22 q
PACENerdy Inc	0.03%	1,429,104	$14M	new	+0.03 pp	new
unresolvedRxr Acquisition Corp	0.03%	1,317,090	$13M	held	—	3 q
SIENSientra, Inc.	0.03%	2,578,364	$15M	added+9%	−0.01 pp	23 q
SPLKSplunk Inc	0.03%	81,463	$12M	trimmed−13%	0.00 pp	20 q
TOSTToast, Inc.	0.03%	300,254	$15M	new	+0.03 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.03%	33,555	$13M	added+20%	0.00 pp	15 q
WRBYWarby Parker Inc.	0.03%	258,424	$14M	new	+0.03 pp	new
unresolvedBrookfield Asset Mgmt Reins	0.03%	201,054	$11M	added×13.5	+0.03 pp	2 q
unresolvedFifth Wall Acquisitn Corp II	0.03%	1,250,000	$12M	held	—	2 q
unresolvedSarissa Capital Acquisitn Co	0.03%	1,505,619	$15M	held	—	2 q
SMWBSimilarweb Ltd.	0.03%	535,942	$11M	added+3%	+0.01 pp	2 q
TBLATaboola.com Ltd.	0.03%	1,502,163	$13M	added+5%	0.00 pp	2 q
unresolvedTaboola.com Ltd	0.03%	1,555,999	$13M	trimmed−22%	−0.02 pp	2 q
AAgilent Technologies Inc.	0.02%	60,719	$10M	added+5%	0.00 pp	34 q
ALGNAlign Technology Inc	0.02%	15,355	$10M	held	—	34 q
ACHRArcher Aviation Inc.	0.02%	1,002,000	$9M	new	+0.02 pp	new
AZNNAstrazeneca Plc-spons ADR	0.02%	144,508	$9M	held	—	14 q
AVBAvalonBay Communities, Inc.	0.02%	30,781	$7M	new	+0.02 pp	new
AXGNAxogen, Inc.	0.02%	635,527	$10M	added+10%	−0.01 pp	17 q
KMXCarMax Inc.	0.02%	65,578	$8M	trimmed−0%	0.00 pp	34 q
unresolvedDD3 Acquisition Corp II	0.02%	1,033,069	$10M	held	—	4 q
ESEESCO Technologies, Inc.	0.02%	86,600	$7M	held	—	25 q
unresolvedGo Acquisition Corp	0.02%	715,900	$7M	held	—	3 q
unresolvedLive Oak Acquisition Corp II	0.02%	1,081,671	$11M	new	+0.02 pp	new
LUXELuxExperience B.V.	0.02%	376,717	$10M	added+8%	0.00 pp	3 q
MANHManhattan Associates Inc	0.02%	47,444	$7M	held	—	29 q
POOLPool Corporation	0.02%	18,922	$8M	trimmed−15%	0.00 pp	8 q
RHIRobert Half Inc.	0.02%	75,678	$8M	held	—	34 q
TTWOTake-Two Interactive Software Inc	0.02%	52,235	$8M	trimmed−0%	0.00 pp	18 q
TMOThermo Fisher Scientific, Inc.	0.02%	18,400	$11M	added+42%	+0.01 pp	9 q
DSPViant Technology Inc. Class A	0.02%	542,985	$7M	added+9%	−0.01 pp	3 q
ZMZoom Communications, Inc. Class A	0.02%	31,357	$8M	added+48%	0.00 pp	10 q
IACB.UIon Acquisition Corp 2 Ltd	0.02%	680,312	$7M	held	—	3 q
ABTAbbott Laboratories	0.01%	32,262	$4M	added+33%	0.00 pp	12 q
BLQADBlackrock Inc	0.01%	4,194	$4M	added+62%	0.00 pp	15 q
BFLYButterfly Network, Inc.	0.01%	547,500	$6M	trimmed−49%	−0.03 pp	3 q
CPTCamden Property Trust	0.01%	17,685	$3M	new	+0.01 pp	new
GTLSChart Inds Inc	0.01%	11,733	$2M	new	+0.01 pp	new
DLRDigital Realty Trust, Inc.	0.01%	23,821	$3M	trimmed0%	0.00 pp	7 q
ENVEnvestnet, Inc.	0.01%	44,412	$4M	held	—	32 q
FASTFastenal Co	0.01%	42,810	$2M	trimmed−0%	0.00 pp	34 q
GDRXGoodRx Holdings, Inc. Class A	0.01%	116,500	$5M	new	+0.01 pp	new
HSTHost Hotels & Resorts, Inc.	0.01%	260,935	$4M	added×2.1	+0.01 pp	6 q
HUMHumana Inc.	0.01%	8,050	$3M	trimmed−45%	0.00 pp	13 q
PODDInsulet Corporation	0.01%	13,715	$4M	added+13%	0.00 pp	13 q
INTUIntuit Inc	0.01%	7,988	$4M	added+14%	0.00 pp	7 q
JBIJanus International Group, Inc.	0.01%	342,582	$4M	added+63%	0.00 pp	2 q
MRTXMirati Therapeutics, Inc.	0.01%	22,500	$4M	new	+0.01 pp	new
MCOMoody's Corporation	0.01%	8,568	$3M	added+18%	0.00 pp	14 q
unresolvedOlink Hldg AB	0.01%	240,871	$6M	trimmed−55%	−0.03 pp	3 q
6PMParamount Group Inc	0.01%	302,364	$3M	added×2.8	+0.01 pp	3 q
PKPark Hotels & Resorts Inc.	0.01%	224,232	$4M	added×2.5	+0.01 pp	4 q
PEBPebblebrook Hotel Trust	0.01%	189,090	$4M	added+98%	0.00 pp	6 q
PSAPublic Storage	0.01%	14,957	$4M	added+94%	0.00 pp	3 q
SEERSeer, Inc. Class A	0.01%	74,443	$3M	trimmed−1%	0.00 pp	4 q
SUISun Communities, Inc	0.01%	19,558	$4M	added+95%	+0.01 pp	13 q
unresolvedTishman Speyer Innovation Co	0.01%	487,855	$5M	held	—	3 q
VTRVentas, Inc.	0.01%	78,188	$4M	new	+0.01 pp	new
ZTSZoetis Inc.	0.01%	26,928	$5M	added+21%	0.00 pp	8 q
unresolvedArco Platform Ltd Com	0.01%	120,934	$3M	trimmed−86%	−0.05 pp	13 q
ACNAccenture PLC	0.01%	10,315	$3M	added+44%	+0.01 pp	15 q
BPY-UCADBrookfield Property Partners	0.01%	85,754	$5M	added+81%	0.00 pp	5 q
ESTAEstablishment Labs Holdings Inc.	0.01%	36,152	$3M	added+71%	+0.01 pp	2 q
MRKTIhs Markit Ltd	0.01%	28,275	$3M	added+48%	+0.01 pp	12 q
MNDYmonday.com Ltd.	0.01%	12,905	$4M	trimmed−76%	−0.02 pp	2 q
AINAlbany International Corp Class A	0.00%	115	$9,000	held	—	14 q
ALECAlector, Inc.	0.00%	700	$16,000	held	—	10 q
ALXAlexander's Inc.	0.00%	5,000	$1M	held	—	34 q
ARRYArray Technologies, Inc.	0.00%	29,602	$548,000	trimmed−98%	−0.06 pp	4 q
APAMArtisan Partners Asset Management Inc.	0.00%	3,199	$156,000	held	—	34 q
BEAMBeam Therapeutics Inc.	0.00%	13,017	$1M	trimmed−27%	−0.01 pp	3 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$411,000	held	—	21 q
CMECME Group Inc.	0.00%	7,074	$1M	added+36%	0.00 pp	34 q
CERTCertara, Inc.	0.00%	48,893	$2M	trimmed−93%	−0.05 pp	4 q
CYHCommunity Health Systems, Inc.	0.00%	100	$1,000	held	—	34 q
STZConstellation Brands, Inc.	0.00%	3,835	$808,000	added+27%	0.00 pp	14 q
COSTCostco Wholesale Corp	0.00%	2,099	$943,000	added+48%	0.00 pp	15 q
CCICrown Castle Inc.	0.00%	12,060	$2M	added+68%	0.00 pp	15 q
DHRDanaher Corporation	0.00%	5,823	$2M	added+22%	0.00 pp	15 q
unresolvedDuck Creek Technologies	0.00%	20,000	$885,000	added×3.6	0.00 pp	5 q
DREDuke Realty Corp.	0.00%	32,360	$2M	added+83%	0.00 pp	15 q
ECLEcolab, Inc.	0.00%	1,388	$290,000	held	—	6 q
GPNGlobal Payments, Inc.	0.00%	4,400	$693,000	added+33%	0.00 pp	7 q
GSGoldman Sachs Group Inc.	0.00%	800	$302,000	held	—	21 q
JKHYHenry (Jack) & Associates	0.00%	3,500	$574,000	held	—	7 q
PPLIPeople Incorporated	0.00%	2,160	$281,000	new	0.00 pp	new
IQVIQVIA Holdings Inc.	0.00%	4,774	$1M	added+41%	0.00 pp	10 q
BZKANZHUN LIMITED American Depository Shares	0.00%	61,081	$2M	added+2%	−0.01 pp	2 q
KWKennedy-wilson Holdings, Inc.	0.00%	98,188	$2M	added+64%	0.00 pp	4 q
LSFLaird Superfood, Inc.	0.00%	100,000	$2M	held	—	5 q
ELThe Estee Lauder Companies Inc. Class A	0.00%	1,582	$474,000	added+73%	0.00 pp	15 q
MQMarqeta, Inc. Class A	0.00%	27,000	$597,000	added+23%	0.00 pp	2 q
MPWRMonolithic Power Systems, Inc.	0.00%	1,969	$954,000	added+67%	0.00 pp	2 q
NCNOnCino, Inc.	0.00%	24,886	$2M	added×2.6	0.00 pp	5 q
NOVTNovanta Inc.	0.00%	10,431	$2M	held	—	18 q
unresolvedOrigin Materials Inc	0.00%	39,900	$272,000	trimmed−96%	−0.02 pp	2 q
PCTYPaylocity Holding Corporation	0.00%	2,561	$718,000	held	—	8 q
PAYPaymentus Holdings, Inc.	0.00%	20,000	$493,000	trimmed−94%	−0.03 pp	2 q
PGProcter & Gamble Company	0.00%	1,796	$251,000	held	—	21 q
QCOMQualcomm Inc	0.00%	4,000	$516,000	held	—	21 q
unresolvedSoc Telemed Inc	0.00%	67,100	$152,000	trimmed−98%	−0.04 pp	4 q
SMLRSemler Scientific, Inc.	0.00%	1,525	$191,000	new	0.00 pp	new
SJMThe J.M. Smucker Company	0.00%	251	$30,000	held	—	21 q
TXNTexas Instruments Incorporated	0.00%	5,330	$1M	added×2.1	0.00 pp	15 q
TTCToro Company (The)	0.00%	12,876	$1M	trimmed−1%	0.00 pp	17 q
TWSTTwist Bioscience Corporation	0.00%	7,400	$792,000	trimmed−63%	−0.01 pp	2 q
PATHUiPath, Inc.	0.00%	30,000	$2M	held	—	2 q
VCELVericel Corporation	0.00%	12,865	$628,000	trimmed−36%	0.00 pp	3 q
VICIVICI Properties Inc.	0.00%	46,305	$1M	new	0.00 pp	new
WELLWelltower Inc.	0.00%	12,064	$994,000	trimmed−6%	0.00 pp	3 q
WINGWingstop Inc	0.00%	9,266	$2M	trimmed−7%	0.00 pp	26 q
unresolvedIon Acquisition Corp 3 Ltd	0.00%	150,000	$1M	held	—	2 q
0VQJLTe Connectivity Ltd	0.00%	5,942	$815,000	added×2.5	0.00 pp	15 q
ITUBItau Unibanco Holding S.A.	—	−19,066,690	—	exited	−0.26 pp	—
ZYZymergen Inc.	—	−2,666,218	—	exited	−0.24 pp	—
PRAHPRA Health Sciences, Inc.	—	−550,554	—	exited	−0.21 pp	—
unresolvedFifth Wall Acquisition Corp	—	−4,568,174	—	exited	−0.13 pp	—
LVSLas Vegas Sands Corp.	—	−809,335	—	exited	−0.10 pp	—
SWIMLatham Group, Inc.	—	−1,090,000	—	exited	−0.08 pp	—
unresolvedLufax Holding Ltd	—	−3,243,255	—	exited	−0.08 pp	—
WYNNWynn Resorts Ltd	—	−271,284	—	exited	−0.08 pp	—
RAVNRaven Industries Inc	—	−450,000	—	exited	−0.06 pp	—
unresolvedLandcadia Holdings III Inc	—	−1,903,162	—	exited	−0.05 pp	—
MLCOMelco Resorts & Entertainment Limited	—	−1,275,812	—	exited	−0.05 pp	—
unresolvedIndie Semiconductor Inc	—	−2,000,000	—	exited	−0.04 pp	—
TALTAL Education Group	—	−717,565	—	exited	−0.04 pp	—
unresolvedDesktop Metal Inc	—	−1,225,000	—	exited	−0.03 pp	—
unresolvedEargo Inc	—	−334,696	—	exited	−0.03 pp	—
unresolvedEmpower Ltd	—	−1,500,000	—	exited	−0.03 pp	—
VELOVelo3D, Inc.	—	−1,092,739	—	exited	−0.03 pp	—
PAGSPagSeguro Digital Ltd.	—	−252,005	—	exited	−0.03 pp	—
INNVInnovAge Holding Corp.	—	−500,000	—	exited	−0.02 pp	—
MDLAMedallia Inc	—	−250,000	—	exited	−0.02 pp	—
PRKSUnited Parks & Resorts Inc.	—	−148,245	—	exited	−0.02 pp	—
REALThe RealReal, Inc.	—	−400,000	—	exited	−0.02 pp	—
ABNBAirbnb, Inc. Class A	—	−15,418	—	exited	−0.01 pp	—
APLTApplied Therapeutics, Inc.	—	−237,800	—	exited	−0.01 pp	—
unresolvedAtlas Crest Investment Corp	—	−502,000	—	exited	−0.01 pp	—
BLIBerkeley Lights, Inc.	—	−50,000	—	exited	−0.01 pp	—
unresolvedThe Original Bark Company	—	−500,000	—	exited	−0.01 pp	—
SONYSony Group Corporation	—	−28,316	—	exited	−0.01 pp	—
TXMDTherapeuticsMD, Inc.	—	−3,831,500	—	exited	−0.01 pp	—
TSEMTower Semiconductor Ltd	—	−152,785	—	exited	−0.01 pp	—
BXPBXP, Inc.	—	−3,320	—	exited	0.00 pp	—
CIThe Cigna Group	—	−6,900	—	exited	0.00 pp	—
CHTRCharter Comm Inc Del CL A New	—	−507	—	exited	0.00 pp	—
DRNADicerna Pharmaceuticals, Inc.	—	−34,762	—	exited	0.00 pp	—
PTONPeloton Interactive, Inc. Class A	—	−4,186	—	exited	0.00 pp	—
S76Store Capital Corp	—	−7,750	—	exited	0.00 pp	—
TRNOTerreno Realty Corporation	—	−4,543	—	exited	0.00 pp	—