Baron Capital

Q4 2021 13F · by Ron Baron, CEO

As of: Dec 31, 2021
Filed: Feb 14, 2022
US stock: $47.1B · prev $44.1B
Positions: 404 · prev 397
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%

Moves379 since the prior filing

+4.9 pp in · −4.8 pp out

New 43 +2.70 pp
Added 161 +2.16 pp
Trimmed 139 −2.61 pp
Exited 36 −2.19 pp

The book

Focused · behaves like 36 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 23% a year, about 4.3 years per position

Low
Moderate
High

Top 5 positions26% of US stock

Positions404 in this filing · 36 exited


TSLATesla, Inc.	12.99%	5,793,603	$6.1B	trimmed−4%	+2.42 pp	32 q
ITGartner, Inc.	3.79%	5,337,296	$1.8B	trimmed−2%	+0.03 pp	35 q
IDXXIdexx Laboratories Inc	3.53%	2,527,511	$1.7B	trimmed−3%	−0.12 pp	35 q
CSGPCoStar Group Inc	3.10%	18,498,791	$1.5B	trimmed−1%	−0.53 pp	35 q
MTNVail Resorts, Inc.	3.06%	4,393,280	$1.4B	trimmed−0%	−0.27 pp	35 q
MSCIMSCI, Inc.	2.78%	2,140,588	$1.3B	trimmed−1%	−0.21 pp	35 q
FDSFactset Research Systems	2.74%	2,657,480	$1.3B	added0%	+0.37 pp	35 q
ACGLArch Capital Group Ltd	2.03%	21,532,452	$957M	added+2%	+0.20 pp	35 q
AKXAnsys Inc	1.73%	2,033,805	$816M	trimmed−2%	+0.14 pp	35 q
TECHBio-Techne Corp.	1.63%	1,482,953	$767M	trimmed−1%	−0.01 pp	29 q
CHHChoice Hotels Intnl.	1.53%	4,630,852	$722M	trimmed−0%	+0.20 pp	35 q
GWREGuidewire Software, Inc.	1.42%	5,897,971	$670M	added+3%	−0.13 pp	35 q
MTDMettler-Toledo International	1.35%	375,094	$637M	trimmed−2%	+0.16 pp	35 q
RIVNRivian Automotive, Inc. Class A	1.25%	5,839,998	$590M	new	+1.25 pp	new
TSMTaiwan Semiconductor Manufacturing Company Ltd.	1.18%	4,623,225	$556M	added+30%	+0.28 pp	35 q
IRDMIridium Communications Inc.	1.17%	13,401,739	$553M	added+15%	+0.12 pp	31 q
PENNPENN Entertainment, Inc.	1.17%	10,665,535	$553M	added+2%	−0.54 pp	35 q
WSTWest Pharmaceutical Services, Inc.	1.17%	1,177,521	$552M	trimmed−6%	−0.04 pp	35 q
SCHWThe Charles Schwab Corporation	1.16%	6,520,260	$548M	trimmed0%	+0.08 pp	35 q
HHyatt Hotels Corporation	1.11%	5,460,700	$524M	added+1%	+0.17 pp	35 q
KNSLKinsale Capital Group, Inc.	1.07%	2,111,106	$502M	added0%	+0.30 pp	21 q
VACMarriott Vacations Worldwide Corporation	1.05%	2,941,647	$497M	added+7%	+0.07 pp	35 q
TREXTrex Company, Inc.	0.95%	3,308,290	$447M	trimmed−8%	+0.12 pp	32 q
GLPIGaming and Leisure Properties, Inc.	0.90%	8,750,213	$426M	trimmed−2%	−0.03 pp	33 q
MORNMorningstar, Inc.	0.88%	1,208,920	$413M	trimmed−0%	+0.17 pp	35 q
RRRRed Rock Resorts, Inc. Class A	0.88%	7,575,730	$417M	trimmed−5%	−0.05 pp	23 q
DAVAEndava plc	0.84%	2,356,691	$396M	trimmed−0%	+0.11 pp	14 q
GOOGAlphabet Inc. Class C	0.71%	115,587	$334M	trimmed−4%	−0.02 pp	31 q
DAYDayforce, Inc.	0.69%	3,114,547	$325M	trimmed−0%	−0.11 pp	15 q
PRIPrimerica, Inc.	0.68%	2,085,776	$320M	trimmed−0%	−0.05 pp	35 q
BFAMBright Horizons Family Solutions Inc.	0.67%	2,511,344	$316M	added0%	−0.12 pp	35 q
AMZNAmazon.Com Inc	0.64%	90,232	$301M	added+1%	−0.02 pp	35 q
AREAlexandria Real Estate Equities, Inc.	0.62%	1,303,969	$291M	added0%	+0.06 pp	35 q
SBACSBA Communications Corp	0.59%	718,748	$280M	trimmed−9%	0.00 pp	21 q
SHOPShopify Inc. Class A subordinate voting shares	0.59%	201,593	$278M	added+32%	+0.12 pp	9 q
GTMZoomInfo Technologies Inc	0.59%	4,301,383	$276M	added+1%	0.00 pp	7 q
SSNCSS&C Technologies Inc	0.58%	3,355,371	$275M	trimmed−5%	+0.03 pp	35 q
CNSCohen & Steers Inc.	0.57%	2,916,298	$270M	added+5%	+0.04 pp	35 q
VRSKVerisk Analytics, Inc.	0.57%	1,174,750	$269M	trimmed−0%	+0.04 pp	35 q
EPAMEpam Systems, Inc.	0.56%	397,382	$266M	trimmed−2%	+0.04 pp	25 q
SPOTSpotify Technology S.A.	0.55%	1,115,858	$261M	added+10%	+0.03 pp	15 q
BABAAlibaba Group Holding Limited	0.54%	2,130,954	$253M	trimmed−1%	−0.18 pp	30 q
SITESiteOne Landscape Supply, Inc.	0.54%	1,058,011	$256M	trimmed−6%	+0.03 pp	23 q
ICLRIcon Plc	0.52%	792,531	$245M	trimmed−7%	+0.01 pp	35 q
FNDFloor & Decor Holdings, Inc.	0.51%	1,837,283	$239M	added+10%	+0.05 pp	19 q
IBPInstalled Building Products, Inc.	0.47%	1,590,496	$222M	trimmed−7%	+0.05 pp	17 q
VEEVVeeva Systems Inc.	0.44%	820,814	$210M	trimmed−1%	−0.10 pp	19 q
DXCMDexCom, Inc.	0.43%	380,888	$205M	trimmed−5%	−0.06 pp	35 q
WIXWIX.com Ltd.	0.43%	1,295,414	$204M	trimmed−6%	−0.18 pp	21 q
EFOREverforth, Inc.	0.42%	1,604,458	$198M	trimmed−1%	0.00 pp	14 q
ARGXargenx SE	0.42%	563,535	$197M	added+2%	+0.04 pp	17 q
BYDBoyd Gaming Corporation	0.42%	2,996,840	$197M	added+88%	+0.19 pp	20 q
DEIDouglas Emmett, Inc.	0.42%	5,927,512	$199M	trimmed−12%	−0.06 pp	35 q
TRUTransUnion	0.41%	1,644,208	$195M	trimmed−0%	−0.01 pp	19 q
AZPNAspen Technology Inc	0.40%	1,247,952	$190M	trimmed−1%	+0.05 pp	26 q
ILMNIllumina Inc	0.39%	479,794	$183M	trimmed−1%	−0.06 pp	35 q
RNGRingcentral, Inc.	0.39%	989,096	$185M	trimmed−18%	−0.20 pp	14 q
MSFTMicrosoft Corp	0.38%	538,163	$181M	added0%	+0.04 pp	17 q
VRSNVeriSign Inc	0.36%	663,767	$168M	held	—	35 q
unresolvedBrookfield Asset Mgmt Inc	0.34%	2,636,287	$159M	added+9%	+0.05 pp	35 q
PEGAPegasystems Inc	0.34%	1,415,130	$158M	added+13%	−0.02 pp	35 q
VRTVertiv Holdings Co Class A	0.33%	6,250,000	$156M	trimmed−2%	−0.02 pp	8 q
CLVTClarivate Plc	0.32%	6,504,664	$153M	trimmed−1%	−0.01 pp	11 q
NVDANvidia Corp	0.31%	490,268	$144M	added+8%	+0.10 pp	14 q
TTDThe Trade Desk, Inc.	0.31%	1,580,361	$145M	trimmed−14%	+0.02 pp	21 q
ROPRoper Technologies, Inc.	0.30%	288,438	$142M	trimmed−2%	0.00 pp	35 q
BWINThe Baldwin Insurance Group, Inc. Class A	0.29%	3,834,077	$138M	trimmed−1%	0.00 pp	9 q
CGThe Carlyle Group Inc.	0.29%	2,450,292	$135M	trimmed−0%	+0.03 pp	3 q
HLIHoulihan Lokey, Inc.	0.29%	1,303,376	$135M	trimmed−1%	+0.02 pp	17 q
MANUManchester United PLC	0.29%	9,764,453	$139M	trimmed−7%	−0.17 pp	35 q
EQIXEquinix, Inc.	0.28%	155,555	$132M	trimmed−14%	−0.04 pp	28 q
ALTRAltair Engineering Inc. Class A	0.27%	1,635,056	$126M	trimmed−0%	+0.01 pp	17 q
CBRECbre Group, Inc.	0.27%	1,183,196	$128M	held	—	35 q
MKTXMarketAxess Holdings Inc.	0.26%	294,391	$121M	trimmed−5%	−0.03 pp	26 q
GHGuardant Health, Inc.	0.24%	1,130,409	$113M	added0%	−0.08 pp	13 q
MELIMercado Libre, Inc	0.24%	85,498	$115M	added+17%	−0.04 pp	14 q
MRCYMercury Systems Inc.	0.24%	2,051,385	$113M	added0%	+0.02 pp	28 q
MGMMgm Resorts International	0.23%	2,455,648	$110M	added×2.5	+0.13 pp	2 q
REXRRexford Industrial Realty, Inc.	0.23%	1,354,180	$110M	added+51%	+0.11 pp	29 q
TRIPTripAdvisor, Inc.	0.22%	3,745,780	$102M	trimmed−10%	−0.10 pp	4 q
AVNTAvient Corporation	0.21%	1,800,000	$101M	trimmed−2%	+0.02 pp	9 q
unresolvedCooper Cos Inc/The	0.21%	240,241	$101M	held	—	32 q
CRWDCrowdStrike Holdings, Inc. Class A	0.21%	491,485	$101M	added+8%	−0.04 pp	11 q
DTDynatrace, Inc.	0.21%	1,606,101	$97M	trimmed−2%	−0.05 pp	10 q
GDSGDS Holdings Limited	0.21%	2,089,057	$99M	trimmed−11%	−0.09 pp	16 q
SNOWSnowflake Inc.	0.21%	293,563	$99M	added+11%	+0.03 pp	6 q
ZLABZai Lab Limited	0.21%	1,558,724	$98M	added+1%	−0.16 pp	16 q
COLDAmericold Realty Trust, Inc.	0.20%	2,880,022	$94M	trimmed−17%	−0.03 pp	16 q
AXNXAxonics, Inc.	0.20%	1,689,914	$95M	trimmed−1%	−0.05 pp	8 q
CGNXCognex Corp	0.20%	1,200,000	$93M	trimmed−1%	−0.02 pp	35 q
APHAmphenol Corporation	0.19%	1,017,102	$89M	held	—	11 q
CDWCDW Corporation	0.19%	446,345	$91M	held	—	19 q
IEXIDEX Corporation	0.19%	383,323	$91M	trimmed−1%	+0.01 pp	30 q
INSPInspire Medical Systems, Inc.	0.19%	386,246	$89M	trimmed−1%	−0.02 pp	12 q
JLLJones Lang LaSalle, Inc.	0.19%	324,167	$87M	added+14%	+0.03 pp	10 q
KTOSKratos Defense & Security Solutions, Inc.	0.19%	4,545,725	$88M	added+6%	−0.03 pp	8 q
NVEINuvei Corporation Subordinate Voting Shares	0.19%	1,378,299	$90M	new	+0.19 pp	new
TXG10x Genomics, Inc. Class A	0.19%	599,974	$89M	added+3%	0.00 pp	10 q
TWLOTwilio Inc.	0.19%	340,368	$90M	added+7%	−0.04 pp	11 q
WRBYWarby Parker Inc.	0.18%	1,833,745	$85M	added×7.1	+0.15 pp	2 q
AZEKThe AZEK Company Inc.	0.17%	1,752,794	$81M	added+3%	+0.03 pp	7 q
CAKECheesecake Factory (The)	0.17%	2,034,583	$80M	added+29%	0.00 pp	35 q
LBRDKLiberty Broadband Corporation Class C	0.17%	483,154	$78M	trimmed−25%	−0.08 pp	29 q
FWONKLiberty Media Corporation Series C Liberty Formula One	0.17%	1,250,000	$79M	trimmed−1%	+0.02 pp	23 q
SMRTSmartRent, Inc.	0.17%	8,416,662	$81M	trimmed−28%	−0.17 pp	2 q
TDGTransDigm Group Incorporated	0.17%	125,000	$80M	trimmed−1%	−0.01 pp	35 q
FISFidelity National Information Services, Inc.	0.16%	680,434	$74M	trimmed−3%	−0.03 pp	10 q
JDJD.com, Inc.	0.16%	1,097,436	$77M	new	+0.16 pp	new
JBTMJBT Marel Corporation	0.16%	500,000	$77M	trimmed−2%	0.00 pp	20 q
LOWLowe's Companies Inc.	0.16%	294,009	$76M	added+5%	+0.03 pp	13 q
NEOGNeogen Corp	0.16%	1,685,817	$77M	added+1%	0.00 pp	35 q
UTZUtz Brands, Inc.	0.16%	4,748,022	$76M	added+23%	+0.01 pp	7 q
AMTAmerican Tower Corporation	0.15%	244,163	$71M	added+7%	+0.01 pp	35 q
PLNTPlanet Fitness, Inc.	0.15%	800,000	$72M	trimmed−1%	+0.01 pp	16 q
NOWServicenow, Inc.	0.15%	110,210	$72M	added0%	−0.01 pp	26 q
SGSweetgreen, Inc.	0.15%	2,186,294	$70M	new	+0.15 pp	new
AFYAAfya Limited Class A	0.15%	4,378,483	$69M	added+6%	−0.04 pp	10 q
ARWRArrowhead Research Corporation	0.14%	991,393	$66M	trimmed−2%	0.00 pp	13 q
CWANClearwater Analytics Hds-a	0.14%	2,821,802	$65M	added+43%	+0.03 pp	2 q
FICOFair Isaac Corporation	0.14%	148,217	$64M	added+2%	+0.01 pp	9 q
GDYNGrid Dynamics Holdings, Inc. Class A	0.14%	1,774,000	$67M	trimmed−24%	−0.01 pp	8 q
HUBSHubspot, Inc.	0.14%	99,129	$65M	added+1%	−0.01 pp	4 q
INVHInvitation Homes Inc.	0.14%	1,462,713	$66M	added+4%	+0.02 pp	20 q
MAMastercard Incorporated	0.14%	186,787	$67M	added+9%	+0.01 pp	35 q
NTRANatera, Inc.	0.14%	693,462	$65M	added+6%	−0.03 pp	2 q
RPAYRepay Holdings Corporation Class A	0.14%	3,517,000	$64M	trimmed−1%	−0.05 pp	9 q
SKINSkinHealth Systems Inc. Class A	0.14%	2,675,578	$65M	added+22%	+0.01 pp	3 q
unresolvedVelo3D Inc	0.14%	8,307,434	$65M	added+28%	+0.02 pp	2 q
WCNWaste Connections, Inc.	0.14%	475,000	$65M	trimmed−7%	0.00 pp	22 q
AVLRAvalara, Inc.	0.13%	458,774	$59M	trimmed−13%	−0.08 pp	4 q
DDOGDatadog, Inc. Class A	0.13%	351,730	$63M	added+9%	+0.03 pp	10 q
DRVNDriven Brands Holdings Inc.	0.13%	1,850,000	$62M	trimmed−2%	+0.01 pp	4 q
VMRKVivmark Residential	0.13%	673,317	$61M	added+83%	+0.06 pp	20 q
FIGSFIGS, Inc.	0.13%	2,265,667	$62M	added+82%	+0.02 pp	3 q
HLMNHillman Solutions Corp.	0.13%	5,854,330	$63M	added+8%	−0.02 pp	2 q
INDIindie Semiconductor, Inc. Class A	0.13%	4,967,886	$60M	added+1%	−0.01 pp	3 q
ISRGIntuitive Surgical Inc.	0.13%	166,778	$60M	added+1%	+0.01 pp	21 q
DNUTKrispy Kreme, Inc.	0.13%	3,170,306	$60M	added+4%	+0.03 pp	2 q
ROLRollins, Inc.	0.13%	1,849,875	$63M	added0%	−0.02 pp	22 q
SESea Limited	0.13%	271,451	$61M	added+57%	+0.01 pp	4 q
SPGSimon Property Group, Inc.	0.13%	376,014	$60M	trimmed−7%	+0.01 pp	5 q
TFXTeleflex Incorporated	0.13%	186,657	$61M	held	—	23 q
YUMCYum China Holdings, Inc.	0.13%	1,235,239	$62M	added0%	−0.03 pp	6 q
NBISNebius Group N.V. Class A	0.13%	1,027,958	$62M	trimmed−9%	−0.07 pp	24 q
NETCloudflare, Inc. Class A, par value $0.001 per share	0.12%	418,035	$55M	added+4%	+0.02 pp	10 q
ETWOWE2OPEN Parent Ho -CW25	0.12%	4,886,792	$55M	held	—	3 q
YMMFull Truck Alliance Co. Ltd.	0.12%	6,543,895	$55M	new	+0.12 pp	new
HLLYHolley Inc.	0.12%	4,250,000	$55M	trimmed−2%	0.00 pp	2 q
LENLennar Corporation Class A	0.12%	501,525	$58M	added+8%	+0.02 pp	13 q
OZONOzon Holdings PLC	0.12%	1,972,093	$58M	added+30%	−0.05 pp	5 q
PARPAR Technology Corp.	0.12%	1,095,481	$58M	added+10%	−0.02 pp	14 q
PLDPrologis, Inc.	0.12%	335,599	$57M	added+5%	+0.03 pp	21 q
SDGRSchrodinger, Inc.	0.12%	1,593,184	$55M	trimmed−17%	−0.12 pp	8 q
SOFISoFi Technologies, Inc.	0.12%	3,696,819	$58M	new	+0.12 pp	new
VMCVulcan Materials Company(Holding Company)	0.12%	269,093	$56M	added+16%	+0.03 pp	12 q
BERYBerry Global Group, Inc.	0.11%	700,000	$52M	trimmed−14%	0.00 pp	35 q
CDNACareDx, Inc.	0.11%	1,100,708	$50M	added+32%	−0.01 pp	15 q
FAFirst Advantage Corporation	0.11%	2,695,760	$51M	added+52%	+0.03 pp	3 q
FRCBFirst Republic Bk CA	0.11%	249,806	$52M	held	—	35 q
JBI/WSJanus Parent Inc -CW26	0.11%	4,000,000	$50M	held	—	3 q
MXCTMaxCyte, Inc.	0.11%	5,065,171	$52M	added×3.3	+0.07 pp	2 q
MCMoelis & Company	0.11%	792,935	$50M	trimmed−10%	−0.01 pp	31 q
PYPLPayPal Holdings, Inc.	0.11%	275,105	$52M	added+23%	−0.02 pp	12 q
TROWT Rowe Price Group Inc	0.11%	270,873	$53M	held	—	35 q
RBCRBC Bearings Incorporated	0.11%	255,000	$52M	added+12%	0.00 pp	29 q
TNLTravel + Leisure Co.	0.11%	972,926	$54M	added+10%	0.00 pp	4 q
BAPCredicorp LTD	0.11%	439,375	$54M	added+15%	+0.01 pp	3 q
ADBEAdobe Inc.	0.10%	86,992	$49M	trimmed−11%	−0.03 pp	17 q
AEISAdvanced Energy Industries Inc	0.10%	496,048	$45M	held	—	9 q
CPNGCoupang, Inc.	0.10%	1,536,013	$45M	added×2.2	+0.06 pp	4 q
DHID.R. Horton Inc.	0.10%	436,366	$47M	added+33%	+0.04 pp	13 q
HGVHilton Grand Vacations Inc.	0.10%	872,376	$45M	trimmed−23%	−0.02 pp	20 q
ONTOnterris, Inc.	0.10%	651,537	$46M	held	—	6 q
WEXWEX Inc.	0.10%	325,000	$46M	trimmed−1%	−0.03 pp	35 q
ZSZscaler, Inc.	0.10%	139,968	$45M	added+4%	+0.02 pp	16 q
GOOGLAlphabet Inc. Class A	0.09%	14,646	$42M	added+12%	+0.01 pp	26 q
BILLBILL Holdings, Inc.	0.09%	165,144	$41M	added+8%	0.00 pp	9 q
CZRCaesars Entertainment, Inc.	0.09%	472,646	$44M	added+15%	−0.01 pp	2 q
BASECouchbase, Inc.	0.09%	1,648,907	$41M	added+53%	+0.01 pp	2 q
DNLIDenali Therapeutics Inc.	0.09%	996,304	$44M	trimmed−12%	−0.04 pp	17 q
EWCZEuropean Wax Center, Inc. Class A	0.09%	1,350,000	$41M	added+29%	+0.02 pp	2 q
HHCThe Howard Hughes Corporation	0.09%	431,910	$44M	added+4%	+0.01 pp	5 q
unresolvedInnovid Corp	0.09%	6,132,162	$41M	new	+0.09 pp	new
BZKANZHUN LIMITED American Depository Shares	0.09%	1,221,418	$43M	added×20.0	+0.09 pp	3 q
75ZSoho House & Co Inc	0.09%	3,142,331	$40M	trimmed−22%	−0.02 pp	2 q
NVTSNavitas Semiconductor Corporation	0.09%	2,606,671	$44M	new	+0.09 pp	new
PGNYProgyny, Inc.	0.09%	873,228	$44M	added+4%	−0.02 pp	9 q
SAILSailPoint, Inc.	0.09%	866,392	$42M	trimmed−2%	0.00 pp	5 q
SIX1Six Flags Entertainment Corp.	0.09%	1,029,982	$44M	added+18%	+0.01 pp	5 q
STNEStoneCo Ltd. Class A	0.09%	2,469,090	$42M	trimmed−18%	−0.15 pp	13 q
WTWWillis Towers Watson Public Limited Company	0.09%	171,162	$41M	held	—	24 q
XPXP Inc. Class A	0.09%	1,532,090	$44M	trimmed−41%	−0.14 pp	9 q
FVRRFiverr International Ltd.	0.09%	360,781	$41M	added+4%	−0.05 pp	11 q
KRNTKornit Digital Ltd.	0.09%	276,094	$42M	held	—	24 q
NVMINova Ltd.	0.09%	279,063	$41M	held	—	13 q
ACMRACM Research, Inc. Class A	0.08%	425,670	$36M	added+9%	−0.02 pp	4 q
ELSEquity Lifestyle Properties, Inc.	0.08%	450,905	$40M	added+8%	+0.01 pp	16 q
HQYHealthEquity, Inc	0.08%	800,000	$35M	trimmed−6%	−0.05 pp	30 q
MSGSMadison Square Garden Sports Corp.	0.08%	225,000	$39M	trimmed−1%	−0.02 pp	25 q
MIRMirion Technologies, Inc.	0.08%	3,800,000	$40M	new	+0.08 pp	new
NXDRNextdoor Holdings, Inc.	0.08%	4,720,791	$37M	new	+0.08 pp	new
TWTradeweb Markets Inc. Class A	0.08%	378,149	$38M	added+1%	+0.01 pp	11 q
VCYTVeracyte, Inc.	0.08%	875,407	$36M	trimmed−7%	−0.02 pp	11 q
VVISA Inc.	0.08%	173,427	$38M	trimmed−39%	−0.06 pp	35 q
DLODLocal Limited Class A	0.08%	1,027,412	$37M	trimmed−3%	−0.05 pp	3 q
AMHAmerican Homes 4 Rent	0.07%	717,624	$31M	added+3%	+0.01 pp	19 q
BVBrightView Holdings, Inc.	0.07%	2,426,505	$34M	added+6%	−0.01 pp	13 q
CYRXCryoPort, Inc.	0.07%	552,288	$33M	trimmed−1%	−0.01 pp	7 q
METAMeta Platforms, Inc. Class A	0.07%	100,771	$34M	trimmed−79%	−0.30 pp	35 q
FBINFortune Brands Innovations, Inc.	0.07%	324,243	$35M	added+34%	+0.02 pp	7 q
HEI.AHeico Corp Cl A	0.07%	254,352	$33M	added+1%	0.00 pp	16 q
LSXMKLiberty Media Cor-siriusxm C	0.07%	625,000	$32M	held	—	14 q
LFUSLittelfuse Inc	0.07%	98,608	$31M	held	—	24 q
SPHRSphere Entertainment Co.	0.07%	478,149	$34M	added×2.1	+0.03 pp	7 q
WOOFPetco Health and Wellness Company, Inc. Class A	0.07%	1,620,791	$32M	added+15%	0.00 pp	4 q
QLYSQualys, Inc.	0.07%	232,500	$32M	held	—	32 q
XYZBlock, Inc.	0.07%	210,369	$34M	added+18%	−0.03 pp	7 q
VRNSVaronis Systems, Inc.	0.07%	672,988	$33M	held	—	11 q
ESNTEssent Group LTD	0.07%	729,511	$33M	trimmed−0%	0.00 pp	22 q
GLOBGlobant S.a.	0.07%	97,767	$31M	added+3%	+0.01 pp	23 q
ACVAACV Auctions Inc.	0.06%	1,426,663	$27M	added+30%	+0.02 pp	4 q
ALGMAllegro MicroSystems, Inc.	0.06%	778,795	$28M	held	—	5 q
DKNGDraftKings Inc. Class A	0.06%	980,900	$27M	trimmed−2%	−0.05 pp	7 q
HDHome Depot, Inc.	0.06%	63,144	$26M	held	—	33 q
LVSLas Vegas Sands Corp.	0.06%	689,562	$26M	new	+0.06 pp	new
OKTAOkta, Inc. Class A	0.06%	124,782	$28M	added+36%	+0.01 pp	19 q
SPGIS&P Global Inc.	0.06%	56,512	$27M	added0%	+0.01 pp	16 q
SHLSShoals Technologies Group, Inc. Class A	0.06%	1,250,000	$30M	added+2%	−0.02 pp	4 q
SILKSilk Road Medical, Inc.	0.06%	707,943	$30M	trimmed−59%	−0.16 pp	11 q
WDAYWorkday, Inc. Class A	0.06%	106,129	$29M	added+8%	0.00 pp	4 q
BHVNBiohaven Ltd.	0.06%	197,980	$27M	added+76%	+0.02 pp	9 q
unresolvedBrookfield Asset Mgmt Reins	0.06%	415,771	$26M	added×2.1	+0.03 pp	3 q
unresolvedDiversey Hldgs Ltd	0.06%	2,108,657	$28M	held	—	4 q
ICHRIchor Holdings	0.06%	635,384	$29M	held	—	21 q
unresolvedNew Frontier Health Corp	0.06%	2,518,296	$29M	trimmed−1%	0.00 pp	9 q
ASMLASML Holding NV	0.06%	37,013	$29M	trimmed−14%	−0.01 pp	34 q
ACCDAccolade, Inc.	0.05%	862,547	$23M	added×2.4	+0.02 pp	6 q
ALKTAlkami Technology, Inc.	0.05%	1,200,452	$24M	added+10%	−0.01 pp	3 q
DHDefinitive Healthcare Corp. Class A	0.05%	806,924	$22M	added+61%	0.00 pp	2 q
EWEdwards Lifesciences Corp	0.05%	195,726	$25M	added0%	0.00 pp	35 q
0C3Endeavor Group Hold-class A	0.05%	666,506	$23M	added+3%	+0.01 pp	3 q
ETWOE2open Parent Holdings, Inc.	0.05%	2,000,000	$23M	trimmed−5%	0.00 pp	4 q
FTCHQFarfetch Limited A	0.05%	702,664	$23M	trimmed−38%	−0.05 pp	5 q
HEIHEICO Corporation	0.05%	162,243	$23M	added+29%	+0.01 pp	15 q
HLIOHelios Technologies, Inc.	0.05%	214,705	$23M	held	—	11 q
INGNInogen Inc	0.05%	740,144	$25M	held	—	10 q
MGPMGM Growth Properties LLC Class A representing limited liability company interests	0.05%	526,572	$22M	trimmed−22%	−0.01 pp	23 q
PAYAPaya Holdings Inc. Class A	0.05%	3,500,000	$22M	trimmed−3%	−0.04 pp	5 q
RVNCRevance Therapeutics, Inc.	0.05%	1,392,408	$23M	held	—	12 q
SWAVShockwave Medical, Inc.	0.05%	145,305	$26M	trimmed−6%	−0.02 pp	7 q
SNAPSnap Inc.	0.05%	498,208	$23M	added+10%	−0.03 pp	8 q
TOLToll Brothers, Inc.	0.05%	338,868	$25M	trimmed−6%	0.00 pp	7 q
VRAYQViewray Inc	0.05%	4,400,929	$24M	held	—	13 q
CDROCodere Online Luxembourg, S.A.	0.05%	4,037,000	$23M	new	+0.05 pp	new
SMWBSimilarweb Ltd.	0.05%	1,341,800	$24M	added×2.5	+0.02 pp	3 q
APPApplovin Corporation Class A	0.04%	218,970	$21M	held	—	3 q
BNTXBioNTech SE	0.04%	78,142	$20M	trimmed−61%	−0.08 pp	5 q
AZTAAzenta, Inc.	0.04%	188,000	$19M	added+50%	+0.01 pp	2 q
CERSCerus Corp	0.04%	2,932,952	$20M	held	—	29 q
EAElectronic Arts Inc	0.04%	140,222	$18M	added+12%	0.00 pp	20 q
unresolvedEnfusion Inc	0.04%	856,185	$18M	new	+0.04 pp	new
unresolvedForgerock Inc	0.04%	708,644	$19M	added+14%	−0.01 pp	2 q
GTLBGitLab Inc. Class A	0.04%	200,000	$17M	new	+0.04 pp	new
JEFJefferies Financial Group Inc.	0.04%	440,000	$17M	new	+0.04 pp	new
MRTXMirati Therapeutics, Inc.	0.04%	126,322	$19M	added×5.6	+0.03 pp	2 q
OPENOpendoor Technologies Inc	0.04%	1,364,088	$20M	added+25%	−0.01 pp	5 q
PINGPing Identity Holding Corp	0.04%	815,781	$19M	trimmed−39%	−0.03 pp	10 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.04%	41,235	$21M	added+23%	+0.01 pp	16 q
unresolvedAtlassian Corp Plc	0.04%	51,340	$20M	added0%	−0.01 pp	3 q
AZNNAstrazeneca Plc-spons ADR	0.03%	243,008	$14M	added+68%	+0.01 pp	15 q
CLNSDigitalBridge Group, Inc.	0.03%	1,441,050	$12M	trimmed−38%	0.00 pp	6 q
NARIInari Medical, Inc.	0.03%	171,115	$16M	trimmed−1%	0.00 pp	7 q
LBRDALiberty Broadband Corporation Class A	0.03%	75,000	$12M	trimmed−8%	0.00 pp	29 q
LM05Liberty Media Corp-liberty-a	0.03%	261,479	$16M	held	—	23 q
NFLXNetFlix Inc	0.03%	26,677	$16M	added0%	−0.01 pp	34 q
unresolvedRxr Acquisition Corp	0.03%	1,317,090	$13M	held	—	4 q
FOURShift4 Payments, Inc.	0.03%	250,000	$14M	trimmed−61%	−0.08 pp	7 q
TMOThermo Fisher Scientific, Inc.	0.03%	21,594	$14M	added+17%	+0.01 pp	10 q
unresolvedFifth Wall Acquisitn Corp II	0.03%	1,250,000	$12M	held	—	3 q
unresolvedSarissa Capital Acquisitn Co	0.03%	1,511,845	$15M	added0%	0.00 pp	3 q
TBLATaboola.com Ltd.	0.03%	2,042,878	$16M	added+36%	0.00 pp	3 q
unresolvedTaboola.com Ltd	0.03%	1,843,108	$13M	added+18%	0.00 pp	3 q
AAgilent Technologies Inc.	0.02%	63,519	$10M	added+5%	0.00 pp	35 q
ALGNAlign Technology Inc	0.02%	14,975	$10M	trimmed−2%	0.00 pp	35 q
AATAmerican Assets Trust, Inc.	0.02%	228,500	$9M	trimmed−55%	−0.02 pp	35 q
AVBAvalonBay Communities, Inc.	0.02%	38,053	$10M	added+24%	0.00 pp	2 q
BRZEBraze, Inc. Class A	0.02%	135,978	$10M	new	+0.02 pp	new
KMXCarMax Inc.	0.02%	65,416	$9M	trimmed−0%	0.00 pp	35 q
ESEESCO Technologies, Inc.	0.02%	86,600	$8M	held	—	26 q
GMABGenmab A/S	0.02%	257,767	$10M	trimmed−2%	−0.01 pp	5 q
HCPHashiCorp, Inc. Class A	0.02%	125,000	$11M	new	+0.02 pp	new
JBGSJBG SMITH Properties	0.02%	374,620	$11M	trimmed−76%	−0.08 pp	3 q
JAMFJamf Holding Corp.	0.02%	300,000	$11M	trimmed−57%	−0.04 pp	6 q
LUXELuxExperience B.V.	0.02%	430,665	$9M	added+14%	0.00 pp	4 q
MANHManhattan Associates Inc	0.02%	47,444	$7M	held	—	30 q
unresolvedMarkforged Holding Corp	0.02%	1,845,074	$10M	trimmed−31%	−0.02 pp	2 q
POOLPool Corporation	0.02%	18,922	$11M	held	—	9 q
PSAPublic Storage	0.02%	18,896	$7M	added+26%	+0.01 pp	4 q
RHIRobert Half Inc.	0.02%	75,678	$8M	held	—	35 q
SIENSientra, Inc.	0.02%	2,578,364	$9M	held	—	24 q
SPLKSplunk Inc	0.02%	81,463	$9M	held	—	21 q
TTWOTake-Two Interactive Software Inc	0.02%	65,342	$12M	added+25%	0.00 pp	19 q
STVNStevanato Group S.p.A.	0.02%	487,200	$11M	new	+0.02 pp	new
ABTAbbott Laboratories	0.01%	30,362	$4M	trimmed−6%	0.00 pp	13 q
ACHRArcher Aviation Inc.	0.01%	657,000	$4M	trimmed−34%	−0.01 pp	2 q
ACHR.WSArcher Aviation Inc. Redeemable Warrants, each whole warrant exercisable for one Class A at an exercise price of $11.50	0.01%	500,000	$3M	new	+0.01 pp	new
ASNDAscendis Pharma A/S	0.01%	20,500	$3M	new	+0.01 pp	new
AXGNAxogen, Inc.	0.01%	435,527	$4M	trimmed−31%	−0.01 pp	18 q
BLQADBlackrock Inc	0.01%	5,098	$5M	added+22%	0.00 pp	16 q
CMECME Group Inc.	0.01%	11,547	$3M	added+63%	+0.01 pp	35 q
CPTCamden Property Trust	0.01%	34,599	$6M	added+96%	0.00 pp	2 q
CERTCertara, Inc.	0.01%	100,000	$3M	added×2.0	+0.01 pp	5 q
CCICrown Castle Inc.	0.01%	17,260	$4M	added+43%	+0.01 pp	16 q
DLRDigital Realty Trust, Inc.	0.01%	23,821	$4M	held	—	8 q
DVDoubleVerify Holdings, Inc.	0.01%	184,516	$6M	trimmed−72%	−0.04 pp	3 q
DREDuke Realty Corp.	0.01%	96,563	$6M	added×3.0	+0.01 pp	16 q
ENVEnvestnet, Inc.	0.01%	44,412	$4M	held	—	33 q
FASTFastenal Co	0.01%	42,810	$3M	held	—	35 q
FRFirst Industrial Realty Trust, Inc.	0.01%	68,750	$5M	new	+0.01 pp	new
HSTHost Hotels & Resorts, Inc.	0.01%	179,943	$3M	trimmed−31%	0.00 pp	7 q
HUMHumana Inc.	0.01%	11,050	$5M	added+37%	0.00 pp	14 q
PODDInsulet Corporation	0.01%	9,215	$2M	trimmed−33%	0.00 pp	14 q
INTUIntuit Inc	0.01%	8,773	$6M	added+10%	0.00 pp	8 q
JBIJanus International Group, Inc.	0.01%	525,425	$7M	added+53%	0.00 pp	3 q
KWKennedy-wilson Holdings, Inc.	0.01%	117,388	$3M	added+20%	+0.01 pp	5 q
LHCGLHC Group LLC	0.01%	21,000	$3M	new	+0.01 pp	new
MCKMcKesson Corporation	0.01%	20,800	$5M	new	+0.01 pp	new
MCOMoody's Corporation	0.01%	11,078	$4M	added+29%	0.00 pp	15 q
NXRTNexPoint Residential Trust Inc	0.01%	34,937	$3M	new	+0.01 pp	new
NIUNiu Technologies	0.01%	161,592	$3M	new	+0.01 pp	new
unresolvedOlink Hldg AB	0.01%	210,445	$4M	trimmed−13%	0.00 pp	4 q
PKPark Hotels & Resorts Inc.	0.01%	126,467	$2M	trimmed−44%	0.00 pp	5 q
PEBPebblebrook Hotel Trust	0.01%	146,190	$3M	trimmed−23%	0.00 pp	7 q
RXRXRecursion Pharmaceuticals, Inc. Class A	0.01%	408,563	$7M	trimmed−41%	−0.03 pp	3 q
SUISun Communities, Inc	0.01%	24,605	$5M	added+26%	0.00 pp	14 q
THCTenet Healthcare Corporation New	0.01%	31,500	$3M	new	+0.01 pp	new
unresolvedTishman Speyer Innovation Co	0.01%	381,620	$4M	trimmed−22%	0.00 pp	4 q
TOSTToast, Inc.	0.01%	114,485	$4M	trimmed−62%	−0.02 pp	2 q
VTRVentas, Inc.	0.01%	72,624	$4M	trimmed−7%	0.00 pp	2 q
DSPViant Technology Inc. Class A	0.01%	542,985	$5M	held	—	4 q
ZTSZoetis Inc.	0.01%	28,828	$7M	added+7%	0.00 pp	9 q
ACNAccenture PLC	0.01%	11,769	$5M	added+14%	0.00 pp	16 q
BPY-UCADBrookfield Property Partners	0.01%	107,404	$7M	added+25%	0.00 pp	6 q
ESTAEstablishment Labs Holdings Inc.	0.01%	50,252	$3M	added+39%	0.00 pp	3 q
MRKTIhs Markit Ltd	0.01%	33,649	$4M	added+19%	0.00 pp	13 q
AIYActivision Blizzard Inc	0.00%	25,135	$2M	trimmed−97%	−0.15 pp	16 q
ALXAlexander's Inc.	0.00%	5,000	$1M	held	—	35 q
FGAAmerican Campus Communities	0.00%	32,649	$2M	new	0.00 pp	new
APAMArtisan Partners Asset Management Inc.	0.00%	3,199	$152,000	held	—	35 q
ARVNArvinas, Inc	0.00%	16,100	$1M	new	0.00 pp	new
BEAMBeam Therapeutics Inc.	0.00%	15,717	$1M	added+21%	0.00 pp	4 q
BRK.ABerkshire Hathaway Inc.	0.00%	1	$451,000	held	—	22 q
CYHCommunity Health Systems, Inc.	0.00%	100	$1,000	held	—	35 q
STZConstellation Brands, Inc.	0.00%	3,835	$962,000	held	—	15 q
COSTCostco Wholesale Corp	0.00%	2,859	$2M	added+36%	0.00 pp	16 q
CYTKCytokinetics Inc.	0.00%	48,000	$2M	new	0.00 pp	new
DHRDanaher Corporation	0.00%	7,163	$2M	added+23%	0.00 pp	16 q
unresolvedDuck Creek Technologies	0.00%	20,000	$602,000	held	—	6 q
ECLEcolab, Inc.	0.00%	2,785	$653,000	added×2.0	0.00 pp	7 q
EXFYExpensify, Inc. Class A	0.00%	17,000	$748,000	new	0.00 pp	new
GPNGlobal Payments, Inc.	0.00%	4,000	$541,000	trimmed−9%	0.00 pp	8 q
GSGoldman Sachs Group Inc.	0.00%	800	$306,000	held	—	22 q
GDRXGoodRx Holdings, Inc. Class A	0.00%	20,500	$670,000	trimmed−82%	−0.01 pp	2 q
HDBHDFC Bank Limited	0.00%	34,319	$2M	new	0.00 pp	new
JKHYHenry (Jack) & Associates	0.00%	3,500	$584,000	held	—	8 q
PPLIPeople Incorporated	0.00%	6,190	$809,000	added×2.9	0.00 pp	2 q
unresolvedInnovid Corp	0.00%	85,302	$95,000	new	0.00 pp	new
NTLAIntellia Therapeutics, Inc	0.00%	10,400	$1M	new	0.00 pp	new
IQVIQVIA Holdings Inc.	0.00%	6,081	$2M	added+27%	0.00 pp	11 q
IWOiShares Russell 2000 Growth ETF	0.00%	4,521	$1M	new	0.00 pp	new
LPLALPL Financial Holdings Inc.	0.00%	10,500	$2M	new	0.00 pp	new
LSFLaird Superfood, Inc.	0.00%	100,000	$1M	held	—	6 q
ELThe Estee Lauder Companies Inc. Class A	0.00%	3,225	$1M	added×2.0	0.00 pp	16 q
LYVLive Nation Entertainment Inc.	0.00%	11,485	$1M	new	0.00 pp	new
MQMarqeta, Inc. Class A	0.00%	28,000	$481,000	added+4%	0.00 pp	3 q
MRNAModerna, Inc.	0.00%	2,532	$643,000	trimmed−95%	−0.04 pp	5 q
MPWRMonolithic Power Systems, Inc.	0.00%	2,088	$1M	added+6%	0.00 pp	3 q
NCNOnCino, Inc.	0.00%	16,000	$878,000	trimmed−36%	0.00 pp	6 q
PACENerdy Inc	0.00%	56,343	$254,000	trimmed−96%	−0.03 pp	2 q
NICENICE Ltd	0.00%	2,060	$625,000	new	0.00 pp	new
NOVTNovanta Inc.	0.00%	10,431	$2M	held	—	19 q
PCTYPaylocity Holding Corporation	0.00%	2,561	$605,000	held	—	9 q
PAYPaymentus Holdings, Inc.	0.00%	20,000	$700,000	held	—	3 q
PINSPinterest, Inc. Class A	0.00%	1,247	$45,000	trimmed−100%	−0.10 pp	6 q
PGProcter & Gamble Company	0.00%	1,796	$294,000	held	—	22 q
PTGXProtagonist Therapeutics, Inc	0.00%	26,000	$889,000	new	0.00 pp	new
QCOMQualcomm Inc	0.00%	4,000	$731,000	held	—	22 q
SEERSeer, Inc. Class A	0.00%	74,443	$2M	held	—	5 q
SMLRSemler Scientific, Inc.	0.00%	10,471	$960,000	added×6.9	0.00 pp	2 q
SJMThe J.M. Smucker Company	0.00%	251	$34,000	held	—	22 q
SFIXStitch Fix, Inc. Class A	0.00%	2,529	$48,000	trimmed−100%	−0.19 pp	5 q
TXNTexas Instruments Incorporated	0.00%	7,700	$1M	added+44%	0.00 pp	16 q
TTCToro Company (The)	0.00%	12,876	$1M	held	—	18 q
PATHUiPath, Inc.	0.00%	30,000	$1M	held	—	3 q
VICIVICI Properties Inc.	0.00%	12,405	$374,000	trimmed−73%	0.00 pp	2 q
WMGWarner Music Group Corp. Class A	0.00%	9,936	$429,000	new	0.00 pp	new
XENEXenon Pharmaceuticals Inc	0.00%	42,000	$1M	new	0.00 pp	new
ZNTLZentalis Pharmaceuticals, Inc.	0.00%	12,000	$1M	new	0.00 pp	new
ZGZillow Group Inc Class A	0.00%	1,031	$64,000	trimmed−100%	−0.61 pp	28 q
ZMZoom Communications, Inc. Class A	0.00%	143	$26,000	trimmed−100%	−0.02 pp	11 q
CINTCI&T Inc	0.00%	38,000	$452,000	new	0.00 pp	new
unresolvedIon Acquisition Corp 3 Ltd	0.00%	150,000	$1M	held	—	3 q
0VQJLTe Connectivity Ltd	0.00%	11,042	$2M	added+86%	0.00 pp	16 q
RSKDRiskified Ltd.	0.00%	28,000	$220,000	new	0.00 pp	new
XLRNAcceleron Pharma Inc.	—	−1,292,998	—	exited	−0.50 pp	—
ZZillow Group, Inc. Class C	—	−2,114,761	—	exited	−0.42 pp	—
unresolvedSofi Technologies Inc	—	−4,891,024	—	exited	−0.18 pp	—
unresolvedOpendoor Technologies Inc	—	−3,454,603	—	exited	−0.16 pp	—
GLNGGolar LNG Ltd	—	−3,800,137	—	exited	−0.11 pp	—
unresolvedHydrofarm Hldgs Group Inc	—	−1,059,233	—	exited	−0.09 pp	—
OLLIOllie's Bargain Outlet Holdings, Inc.	—	−642,800	—	exited	−0.09 pp	—
EVBGEverbridge, Inc.	—	−216,783	—	exited	−0.07 pp	—
RDYDr. Reddy's Laboratories Limited	—	−384,299	—	exited	−0.06 pp	—
VNOVornado Realty Trust	—	−609,684	—	exited	−0.06 pp	—
BBIOBridgeBio Pharma, Inc.	—	−487,447	—	exited	−0.05 pp	—
CORCoresite Realty Corp	—	−168,609	—	exited	−0.05 pp	—
BROSDutch Bros Inc.	—	−425,000	—	exited	−0.04 pp	—
unresolvedKhosla Ventures Acqustn Co I	—	−1,594,823	—	exited	−0.04 pp	—
PDDPDD Holdings Inc.	—	−205,378	—	exited	−0.04 pp	—
unresolvedTpi Composites Inc	—	−572,934	—	exited	−0.04 pp	—
AFIBAcutus Medical Inc	—	−1,255,162	—	exited	−0.03 pp	—
ADPTAdaptive Biotechnologies Corporation	—	−352,825	—	exited	−0.03 pp	—
unresolvedDD3 Acquisition Corp II	—	−1,033,069	—	exited	−0.02 pp	—
unresolvedGo Acquisition Corp	—	−715,900	—	exited	−0.02 pp	—
unresolvedLive Oak Acquisition Corp II	—	−1,081,671	—	exited	−0.02 pp	—
IACB.UIon Acquisition Corp 2 Ltd	—	−680,312	—	exited	−0.02 pp	—
BFLYButterfly Network, Inc.	—	−547,500	—	exited	−0.01 pp	—
GTLSChart Inds Inc	—	−11,733	—	exited	−0.01 pp	—
6PMParamount Group Inc	—	−302,364	—	exited	−0.01 pp	—
unresolvedArco Platform Ltd Com	—	−120,934	—	exited	−0.01 pp	—
MNDYmonday.com Ltd.	—	−12,905	—	exited	−0.01 pp	—
AINAlbany International Corp Class A	—	−115	—	exited	0.00 pp	—
ALECAlector, Inc.	—	−700	—	exited	0.00 pp	—
ARRYArray Technologies, Inc.	—	−29,602	—	exited	0.00 pp	—
unresolvedOrigin Materials Inc	—	−39,900	—	exited	0.00 pp	—
unresolvedSoc Telemed Inc	—	−67,100	—	exited	0.00 pp	—
TWSTTwist Bioscience Corporation	—	−7,400	—	exited	0.00 pp	—
VCELVericel Corporation	—	−12,865	—	exited	0.00 pp	—
WELLWelltower Inc.	—	−12,064	—	exited	0.00 pp	—
WINGWingstop Inc	—	−9,266	—	exited	0.00 pp	—