PRIMECAP

Q2 2023 13F · by Joel Fried, portfolio manager

As of: Jun 30, 2023
Filed: Aug 11, 2023
US stock: $119.7B · prev $114.7B
Positions: 328 · prev 331
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%

Moves285 since the prior filing

−0.3 pp in · +0.3 pp out

New 4 +0.04 pp
Added 58 −0.36 pp
Trimmed 216 +0.36 pp
Exited 7 −0.03 pp

The book

Diversified · behaves like 47 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 2.5% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions22% of US stock

LLY Eli Lilly & Co. trimmed+1.63 pp trimmed+1.639.2%
BIIB Biogen Inc. added−0.07 pp added−0.073.8%
MSFT Microsoft Corp trimmed+0.13 pp trimmed+0.133.0%
AMGN Amgen Inc trimmed−0.46 pp trimmed−0.462.7%
FDX FedEx Corporation trimmed+0.03 pp trimmed+0.032.7%

Positions328 in this filing · 7 exited


LLYEli Lilly & Co.	9.23%	23,546,201	$11.0B	trimmed−7%	+1.63 pp	15 q
BIIBBiogen Inc.	3.81%	16,025,876	$4.6B	added0%	−0.07 pp	15 q
MSFTMicrosoft Corp	3.01%	10,574,687	$3.6B	trimmed−8%	+0.13 pp	15 q
AMGNAmgen Inc	2.73%	14,736,435	$3.3B	trimmed−2%	−0.46 pp	15 q
FDXFedEx Corporation	2.73%	13,182,907	$3.3B	trimmed−3%	+0.03 pp	15 q
AZNNAstrazeneca Plc-spons ADR	2.64%	44,077,300	$3.2B	trimmed−3%	−0.11 pp	15 q
ADBEAdobe Inc.	2.50%	6,108,578	$3.0B	trimmed−3%	+0.39 pp	15 q
KLACKLA Corporation	2.47%	6,087,899	$3.0B	trimmed−4%	+0.26 pp	15 q
TXNTexas Instruments Incorporated	2.40%	15,928,105	$2.9B	trimmed−4%	−0.30 pp	15 q
TSLATesla, Inc.	2.01%	9,204,430	$2.4B	trimmed−7%	+0.22 pp	15 q
MUMicron Technology, Inc.	2.00%	38,014,731	$2.4B	trimmed−2%	−0.05 pp	15 q
INTCIntel Corp	1.97%	70,535,501	$2.4B	added+2%	0.00 pp	15 q
GOOGLAlphabet Inc. Class A	1.96%	19,619,805	$2.3B	trimmed−6%	+0.08 pp	15 q
SONYSony Group Corporation	1.72%	22,872,413	$2.1B	trimmed−5%	−0.18 pp	15 q
BSXBoston Scientific Corp.	1.69%	37,428,979	$2.0B	trimmed−2%	+0.02 pp	15 q
WFCWells Fargo & Co.	1.58%	44,404,555	$1.9B	trimmed−6%	+0.04 pp	15 q
LUVSouthwest Airlines Co.	1.51%	50,050,662	$1.8B	trimmed−2%	+0.07 pp	15 q
TMOThermo Fisher Scientific, Inc.	1.34%	3,078,107	$1.6B	trimmed−14%	−0.45 pp	15 q
BMRNBioMarin Pharmaceuticals Inc	1.33%	18,383,619	$1.6B	added+1%	−0.22 pp	15 q
GOOGAlphabet Inc. Class C	1.32%	13,039,525	$1.6B	trimmed−5%	+0.07 pp	15 q
ORCLOracle Corp	1.32%	13,225,091	$1.6B	trimmed−5%	+0.19 pp	15 q
NVSNovartis AG	1.27%	15,010,675	$1.5B	trimmed−9%	−0.05 pp	15 q
BABAAlibaba Group Holding Limited	1.21%	17,352,479	$1.4B	added0%	−0.33 pp	15 q
BMYBristol-Myers Squibb Co.	1.12%	20,947,045	$1.3B	trimmed−3%	−0.18 pp	15 q
RJFRaymond James Financial, Inc.	1.10%	12,701,532	$1.3B	trimmed−1%	+0.06 pp	15 q
FLEXFlex Ltd.	1.09%	47,140,474	$1.3B	trimmed−5%	+0.10 pp	15 q
UALUnited Airlines Holdings, Inc.	1.08%	23,562,429	$1.3B	trimmed−1%	+0.16 pp	15 q
ACMAecom	1.06%	14,960,071	$1.3B	trimmed−7%	−0.12 pp	15 q
BIDUBaidu, Inc.	1.06%	9,289,874	$1.3B	trimmed−1%	−0.17 pp	15 q
ROSTRoss Stores Inc	1.03%	10,992,464	$1.2B	trimmed−3%	−0.01 pp	15 q
NTAPNetApp, Inc	0.99%	15,480,084	$1.2B	trimmed−3%	+0.10 pp	15 q
SPLKSplunk Inc	0.99%	11,150,318	$1.2B	added0%	+0.06 pp	15 q
SGENSeagen Inc.	0.97%	6,038,808	$1.2B	added+23%	+0.11 pp	15 q
TJXTJX Companies, Inc. (The)	0.97%	13,624,348	$1.2B	trimmed−3%	+0.01 pp	15 q
HESHess Corporation	0.92%	8,142,005	$1.1B	trimmed−0%	−0.02 pp	15 q
NVDANvidia Corp	0.92%	2,592,600	$1.1B	trimmed−6%	+0.25 pp	15 q
DALDelta Air Lines, Inc.	0.89%	22,343,868	$1.1B	trimmed−1%	+0.20 pp	15 q
PXDPioneer Natural Resource Co.	0.85%	4,903,856	$1.0B	trimmed−3%	−0.05 pp	15 q
VVISA Inc.	0.81%	4,089,031	$971M	trimmed−3%	−0.02 pp	15 q
ONCBeOne Medicines Ltd.	0.75%	5,014,649	$894M	trimmed−1%	−0.20 pp	15 q
INTUIntuit Inc	0.69%	1,791,586	$821M	trimmed−5%	−0.04 pp	15 q
MATMattel, Inc.	0.69%	42,108,859	$823M	trimmed−4%	−0.01 pp	15 q
JPMJPMorgan Chase & Co.	0.66%	5,413,951	$787M	trimmed−11%	−0.03 pp	15 q
JJacobs Solutions Inc.	0.63%	6,353,917	$755M	trimmed−0%	−0.02 pp	4 q
ADIAnalog Devices, Inc.	0.61%	3,754,540	$731M	trimmed−4%	−0.06 pp	15 q
QCOMQualcomm Inc	0.59%	5,971,952	$711M	trimmed−7%	−0.13 pp	15 q
WHRWhirlpool Corp.	0.59%	4,712,808	$701M	trimmed−1%	+0.04 pp	15 q
ZBHZimmer Biomet Holdings, Inc.	0.59%	4,862,792	$708M	trimmed−1%	+0.03 pp	15 q
AALAmerican Airlines Group Inc.	0.56%	37,317,721	$669M	trimmed−1%	+0.07 pp	15 q
HPQHP Inc.	0.54%	20,948,295	$643M	trimmed−3%	−0.01 pp	15 q
RCLRoyal Caribbean Group	0.54%	6,269,261	$650M	trimmed−6%	+0.16 pp	15 q
AMZNAmazon.Com Inc	0.47%	4,300,450	$561M	trimmed−0%	+0.08 pp	15 q
MRSHMarsh	0.47%	2,968,839	$558M	trimmed−13%	−0.03 pp	15 q
HPEHewlett Packard Enterprise Company	0.46%	33,080,266	$556M	trimmed−4%	−0.02 pp	15 q
AMATApplied Materials Inc	0.45%	3,730,483	$539M	trimmed−6%	+0.03 pp	15 q
UPSUnited Parcel Service, Inc. Class B	0.44%	2,930,091	$525M	trimmed−1%	−0.06 pp	15 q
BNTXBioNTech SE	0.42%	4,659,853	$503M	added+2%	−0.08 pp	15 q
DISThe Walt Disney Company	0.42%	5,632,307	$503M	trimmed−2%	−0.08 pp	15 q
KMXCarMax Inc.	0.41%	5,815,561	$487M	trimmed−2%	+0.08 pp	15 q
ELANElanco Animal Health Incorporated	0.41%	48,996,454	$493M	added+12%	+0.05 pp	15 q
ALBAlbemarle Corporation	0.39%	2,099,025	$468M	added+3%	0.00 pp	15 q
NTRSNorthern Trust Corp	0.39%	6,232,242	$462M	added+6%	−0.06 pp	15 q
TDGTransDigm Group Incorporated	0.39%	526,044	$470M	trimmed−5%	+0.03 pp	15 q
CATCaterpillar Inc.	0.38%	1,869,330	$460M	trimmed−26%	−0.13 pp	15 q
ASMLASML Holding NV	0.37%	605,079	$439M	trimmed−3%	0.00 pp	13 q
AIYActivision Blizzard Inc	0.35%	5,001,905	$422M	trimmed−9%	−0.06 pp	15 q
GSKGSK plc	0.35%	11,771,770	$420M	added+19%	+0.04 pp	4 q
JBLJabil Inc.	0.35%	3,927,000	$424M	trimmed−3%	+0.04 pp	15 q
BACBank of America Corporation	0.33%	13,831,906	$397M	trimmed−6%	−0.04 pp	15 q
AAPLApple Inc.	0.31%	1,937,100	$376M	trimmed−2%	+0.02 pp	15 q
CSCOCisco Systems, Inc. (DE)	0.31%	7,101,120	$367M	trimmed−2%	−0.02 pp	15 q
CMECME Group Inc.	0.28%	1,823,930	$338M	trimmed−2%	−0.03 pp	15 q
ENTGEntegris Inc	0.28%	2,996,144	$332M	trimmed−0%	+0.07 pp	15 q
TXTTextron, Inc.	0.28%	4,916,480	$333M	trimmed−2%	−0.03 pp	15 q
UNPUnion Pacific Corp.	0.28%	1,651,700	$338M	trimmed−19%	−0.08 pp	15 q
ABTAbbott Laboratories	0.27%	2,974,864	$324M	trimmed−30%	−0.10 pp	15 q
EOGEOG Resources, Inc.	0.27%	2,823,129	$323M	trimmed−4%	−0.02 pp	15 q
RIGTransocean LTD.	0.27%	45,465,089	$319M	trimmed−2%	+0.01 pp	15 q
GLWCorning Incorporated	0.26%	8,814,119	$309M	trimmed−1%	−0.01 pp	15 q
ERICEricsson	0.25%	55,218,371	$301M	trimmed−5%	−0.05 pp	15 q
OLEDUniversal Display Corp	0.25%	2,045,819	$295M	trimmed−2%	−0.03 pp	15 q
MKTXMarketAxess Holdings Inc.	0.24%	1,107,770	$290M	trimmed−0%	−0.14 pp	15 q
LIVNLivaNova PLC	0.23%	5,389,420	$277M	added+4%	+0.03 pp	15 q
AAgilent Technologies Inc.	0.22%	2,144,511	$258M	trimmed−7%	−0.06 pp	15 q
TRMBTrimble Inc.	0.22%	4,899,366	$259M	trimmed−3%	−0.01 pp	15 q
METAMeta Platforms, Inc. Class A	0.21%	884,625	$254M	trimmed−28%	−0.02 pp	15 q
CVSCvs Health Corporation	0.20%	3,493,175	$241M	trimmed−6%	−0.04 pp	15 q
CARRCarrier Global Corporation	0.20%	4,857,262	$241M	trimmed−0%	+0.01 pp	13 q
MSMorgan Stanley	0.19%	2,619,243	$224M	trimmed−4%	−0.02 pp	11 q
BBWIBath & Body Works, Inc.	0.18%	5,674,285	$213M	trimmed−2%	0.00 pp	15 q
DSGXDescartes Systems Group Inc	0.18%	2,660,001	$213M	trimmed−9%	−0.02 pp	15 q
DFSDiscover Financial Services	0.18%	1,841,129	$215M	trimmed−9%	+0.01 pp	15 q
DLTRDollar Tree Inc.	0.18%	1,539,015	$221M	trimmed−2%	−0.02 pp	13 q
ALKAlaska Air Group, Inc.	0.17%	3,897,287	$207M	trimmed−8%	+0.02 pp	15 q
ACLSAxcelis Technologies Inc	0.17%	1,077,146	$197M	trimmed−8%	+0.03 pp	15 q
CWCurtiss-Wright Corp.	0.17%	1,075,725	$198M	trimmed−2%	0.00 pp	15 q
DDDuPont de Nemours, Inc.	0.17%	2,862,346	$204M	trimmed−2%	−0.01 pp	15 q
PODDInsulet Corporation	0.17%	710,608	$205M	trimmed−2%	−0.03 pp	15 q
BBBlackBerry Limited	0.16%	35,036,122	$194M	trimmed−1%	+0.02 pp	15 q
FISFidelity National Information Services, Inc.	0.16%	3,469,585	$190M	trimmed−8%	−0.02 pp	10 q
GDGeneral Dynamics Corporation	0.16%	875,820	$188M	trimmed−3%	−0.02 pp	15 q
GSGoldman Sachs Group Inc.	0.16%	596,950	$193M	trimmed−1%	−0.01 pp	11 q
PGRProgressive Corporation	0.16%	1,472,260	$195M	trimmed−3%	−0.03 pp	15 q
XNCRXencor, Inc.	0.16%	7,750,852	$194M	added+2%	−0.02 pp	15 q
CCitigroup Inc.	0.15%	3,884,846	$179M	trimmed−6%	−0.02 pp	15 q
EWEdwards Lifesciences Corp	0.15%	1,936,000	$183M	held	—	15 q
MAMastercard Incorporated	0.14%	424,800	$167M	added+1%	+0.01 pp	15 q
TERTeradyne, Inc.	0.14%	1,469,305	$164M	trimmed−4%	0.00 pp	15 q
XPEVXPeng Inc.	0.14%	12,056,377	$162M	trimmed−0%	+0.02 pp	12 q
CPRICapri Holdings Limited	0.14%	4,825,828	$173M	added+30%	−0.01 pp	15 q
MARMarriott International Class A	0.13%	878,900	$161M	trimmed−1%	0.00 pp	15 q
NTNXNutanix, Inc. Class A	0.13%	5,505,293	$154M	trimmed−2%	0.00 pp	15 q
OTISOtis Worldwide Corporation	0.13%	1,699,341	$151M	trimmed−1%	0.00 pp	13 q
SYYSysco Corporation	0.13%	2,112,745	$157M	added+4%	−0.01 pp	10 q
KEYSKeysight Technologies, Inc.	0.12%	841,705	$141M	trimmed−6%	−0.01 pp	15 q
ADSKAutodesk Inc	0.11%	650,400	$133M	held	—	15 q
FCXFreeport-McMoran Inc.	0.11%	3,269,100	$131M	added+1%	−0.01 pp	11 q
PANWPalo Alto Networks, Inc.	0.11%	513,102	$131M	trimmed−1%	+0.02 pp	15 q
RVTYRevvity, Inc.	0.11%	1,096,535	$130M	trimmed−5%	−0.02 pp	15 q
PINSPinterest, Inc. Class A	0.11%	4,735,900	$129M	trimmed0%	0.00 pp	15 q
RYTMRhythm Pharmaceuticals, Inc.	0.11%	8,299,317	$137M	added+9%	−0.01 pp	15 q
SYKStryker Corporation	0.11%	420,100	$128M	trimmed−10%	−0.01 pp	15 q
XMTRXometry, Inc. Class A	0.11%	6,240,278	$132M	added+48%	+0.06 pp	9 q
ALKSAlkermes Inc. plc	0.11%	4,126,240	$129M	trimmed−2%	+0.01 pp	15 q
CCLCarnival Corporation Ltd.	0.10%	6,608,578	$124M	trimmed−1%	+0.04 pp	15 q
JBHTJB Hunt Transport Services Inc	0.10%	654,200	$118M	trimmed−0%	0.00 pp	4 q
PYPLPayPal Holdings, Inc.	0.10%	1,764,450	$118M	trimmed−5%	−0.02 pp	15 q
QSRRestaurant Brands International Inc.	0.10%	1,498,900	$116M	added+2%	+0.01 pp	15 q
CSXCSX Corporation	0.09%	3,211,600	$110M	trimmed−20%	−0.01 pp	15 q
EBAYeBay Inc	0.09%	2,357,550	$105M	trimmed−3%	0.00 pp	15 q
EAElectronic Arts Inc	0.09%	845,725	$110M	trimmed−1%	0.00 pp	15 q
FORMFormFactor Inc.	0.09%	3,066,214	$105M	trimmed−1%	0.00 pp	15 q
TMUST-Mobile US, Inc.	0.09%	753,019	$105M	trimmed−19%	−0.03 pp	15 q
TWTradeweb Markets Inc. Class A	0.09%	1,583,475	$108M	added+1%	−0.02 pp	15 q
WOLFWolfspeed, Inc.	0.09%	1,894,994	$105M	added+2%	−0.02 pp	7 q
LINLinde plc	0.09%	275,000	$105M	trimmed−5%	0.00 pp	2 q
BURLBurlington Stores, Inc.	0.08%	631,630	$99M	trimmed−0%	−0.03 pp	15 q
CTRACoterra Energy Inc.	0.08%	3,757,650	$95M	trimmed−6%	−0.01 pp	15 q
CTVACorteva, Inc.	0.08%	1,718,207	$98M	trimmed−8%	−0.02 pp	15 q
DOWDow Inc.	0.08%	1,891,973	$101M	trimmed−6%	−0.02 pp	15 q
VLOValero Energy Corporation	0.08%	784,525	$92M	trimmed−13%	−0.03 pp	11 q
WEXWEX Inc.	0.08%	499,940	$91M	trimmed−33%	−0.04 pp	10 q
AMEAmetek, Inc.	0.07%	498,400	$81M	trimmed−2%	+0.01 pp	14 q
CHTRCharter Comm Inc Del CL A New	0.07%	240,050	$88M	trimmed−1%	−0.01 pp	15 q
EVREvercore Inc.	0.07%	660,880	$82M	added+6%	+0.01 pp	7 q
HLTHilton Worldwide Holdings Inc.	0.07%	563,565	$82M	held	—	15 q
ILMNIllumina Inc	0.07%	457,548	$86M	trimmed−2%	−0.02 pp	15 q
IRBTiRobot Corporation	0.07%	1,826,553	$83M	trimmed−3%	0.00 pp	15 q
MXLMaxLinear, Inc.	0.07%	2,650,630	$84M	trimmed−11%	−0.02 pp	15 q
MCDMcDonald's Corporation	0.07%	291,600	$87M	held	—	15 q
ROKRockwell Automation, Inc.	0.07%	264,190	$87M	trimmed−3%	0.00 pp	15 q
SWAVShockwave Medical, Inc.	0.07%	285,100	$81M	trimmed−3%	+0.01 pp	12 q
WDCWestern Digital Corp.	0.07%	2,286,976	$87M	trimmed−5%	−0.01 pp	15 q
MDTMedtronic plc	0.07%	884,800	$78M	trimmed−6%	0.00 pp	15 q
IEXIDEX Corporation	0.06%	336,825	$73M	trimmed−4%	−0.01 pp	15 q
IQVIQVIA Holdings Inc.	0.06%	312,281	$70M	trimmed−0%	+0.01 pp	14 q
LYVLive Nation Entertainment Inc.	0.06%	827,740	$75M	trimmed−2%	+0.01 pp	12 q
MBLYMobileye Global Inc. Class A	0.06%	2,018,770	$78M	trimmed−0%	−0.02 pp	3 q
NFLXNetFlix Inc	0.06%	168,610	$74M	trimmed−3%	+0.01 pp	5 q
LUNGPulmonx Corporation	0.06%	5,519,721	$72M	added0%	+0.01 pp	11 q
CRMSalesforce, Inc.	0.06%	315,400	$67M	trimmed−17%	−0.01 pp	15 q
SCHWThe Charles Schwab Corporation	0.06%	1,276,808	$72M	trimmed−2%	0.00 pp	15 q
VMWVMware, Inc	0.06%	474,065	$68M	trimmed−1%	+0.01 pp	15 q
CRLCharles River Laboratories International, Inc.	0.05%	273,980	$58M	held	—	15 q
DHRDanaher Corporation	0.05%	252,137	$61M	added+1%	0.00 pp	9 q
LYFTLyft, Inc. Class A	0.05%	6,274,155	$60M	added+47%	+0.02 pp	15 q
RYAAYRyanair Holdings plc	0.05%	515,300	$57M	held	—	15 q
SNYSanofi	0.05%	1,132,090	$61M	trimmed−5%	−0.01 pp	15 q
SW5Southwestern Energy Co	0.05%	9,181,700	$55M	trimmed−7%	+0.01 pp	15 q
UBERUber Technologies, Inc.	0.05%	1,387,050	$60M	trimmed−0%	+0.01 pp	13 q
ALCAlcon Inc.	0.05%	794,865	$65M	held	—	15 q
SSYSStratasys Inc (ISRAEL)	0.05%	3,067,399	$54M	trimmed−3%	0.00 pp	15 q
MOAltria Group, Inc.	0.04%	1,080,800	$49M	trimmed−3%	0.00 pp	15 q
ARLOArlo Technologies, Inc.	0.04%	4,696,910	$51M	trimmed−3%	+0.01 pp	15 q
BJBJs Wholesale Club Holdings, Inc.	0.04%	816,000	$51M	added+1%	−0.01 pp	15 q
CCJCameco Corporation	0.04%	1,435,500	$45M	added+1%	+0.01 pp	15 q
EXKExact Sciences Corp	0.04%	479,300	$45M	held	—	15 q
GKOSGlaukos Corporation	0.04%	618,500	$44M	added+2%	+0.01 pp	15 q
HONHoneywell International, Inc.	0.04%	221,240	$46M	trimmed−3%	0.00 pp	15 q
HUBSHubspot, Inc.	0.04%	97,450	$52M	trimmed−7%	0.00 pp	15 q
JBLUJetBlue Airways Corp	0.04%	4,965,800	$44M	trimmed−3%	+0.01 pp	15 q
LHXL3Harris Technologies, Inc.	0.04%	251,300	$49M	held	—	14 q
MRVLMarvell Technology, Inc.	0.04%	709,300	$42M	added+44%	+0.02 pp	2 q
NXTNextpower Inc.	0.04%	1,169,690	$47M	trimmed−5%	0.00 pp	2 q
NSCNorfolk Southern Corp.	0.04%	231,100	$52M	added+83%	+0.02 pp	15 q
OKTAOkta, Inc. Class A	0.04%	620,666	$43M	added+7%	0.00 pp	14 q
SLBSLB Limited	0.04%	965,000	$47M	added+1%	0.00 pp	15 q
TTDThe Trade Desk, Inc.	0.04%	637,000	$49M	trimmed−17%	0.00 pp	2 q
VSXYVictorias Secret & Co.	0.04%	2,408,839	$42M	trimmed−1%	−0.03 pp	8 q
XPOXPO, Inc.	0.04%	729,900	$43M	added+1%	+0.02 pp	10 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.04%	2,324,970	$51M	trimmed−3%	+0.01 pp	15 q
NVTnVent Electric plc	0.04%	860,000	$44M	trimmed−2%	+0.01 pp	15 q
ALTRAltair Engineering Inc. Class A	0.03%	480,950	$36M	trimmed−11%	0.00 pp	15 q
AURAurora Innovation, Inc. Class A	0.03%	10,218,700	$30M	trimmed−2%	+0.02 pp	7 q
DEDeere & Company	0.03%	100,350	$41M	trimmed−27%	−0.02 pp	15 q
FGENKyntra Bio, Inc.	0.03%	13,677,588	$37M	trimmed−3%	−0.20 pp	15 q
GFLGFL Environmental Inc. Subordinate Voting Shares	0.03%	960,000	$37M	added+2%	0.00 pp	3 q
LPLALPL Financial Holdings Inc.	0.03%	150,000	$33M	held	—	14 q
LOWLowe's Companies Inc.	0.03%	150,000	$34M	held	—	10 q
MGMMgm Resorts International	0.03%	820,600	$36M	trimmed−2%	0.00 pp	15 q
MDBMongoDB, Inc. Class A	0.03%	74,700	$31M	trimmed−15%	+0.01 pp	12 q
NBIXNeurocrine Biosciences Inc	0.03%	393,360	$37M	added+6%	0.00 pp	3 q
NWLNewell Brands Inc.	0.03%	4,636,500	$40M	added+18%	−0.01 pp	15 q
OSISOSI Systems Inc	0.03%	290,350	$34M	trimmed−1%	0.00 pp	15 q
OLLIOllie's Bargain Outlet Holdings, Inc.	0.03%	546,790	$32M	held	—	8 q
RTXRTX Corporation	0.03%	403,432	$40M	trimmed−3%	−0.01 pp	15 q
ULTAUlta Beauty, Inc.	0.03%	68,620	$32M	trimmed−0%	0.00 pp	15 q
WSCWillScot Holdings Corporation Class A	0.03%	632,900	$30M	added+51%	+0.01 pp	13 q
ZNTLZentalis Pharmaceuticals, Inc.	0.03%	1,111,150	$31M	trimmed−2%	+0.01 pp	13 q
ZMZoom Communications, Inc. Class A	0.03%	503,150	$34M	added+23%	0.00 pp	14 q
FTITechnipFMC plc	0.03%	1,814,700	$30M	held	—	15 q
ALLOAllogene Therapeutics, Inc.	0.02%	5,636,686	$28M	trimmed−2%	0.00 pp	11 q
AMHAmerican Homes 4 Rent	0.02%	514,250	$18M	trimmed−6%	0.00 pp	13 q
AXONAxon Enterprise, Inc.	0.02%	117,800	$23M	trimmed−0%	0.00 pp	15 q
BNYBank of New York Mellon Corporation	0.02%	636,800	$28M	trimmed−1%	−0.01 pp	2 q
EATBrinker International, Inc.	0.02%	506,300	$19M	trimmed−32%	0.00 pp	9 q
CERSCerus Corp	0.02%	8,613,000	$21M	trimmed−2%	0.00 pp	15 q
CRWDCrowdStrike Holdings, Inc. Class A	0.02%	202,585	$30M	held	—	15 q
DELLDell Technologies Inc.	0.02%	439,040	$24M	trimmed−1%	0.00 pp	15 q
LKFTLakefront Biotherapeutics	0.02%	666,377	$27M	added+1%	0.00 pp	2 q
INDIindie Semiconductor, Inc. Class A	0.02%	3,017,700	$28M	trimmed−2%	−0.01 pp	8 q
KEXKirby Corporation	0.02%	353,100	$27M	trimmed−4%	0.00 pp	11 q
LVSLas Vegas Sands Corp.	0.02%	456,900	$27M	trimmed−48%	−0.02 pp	15 q
MSGEMadison Square Garden Entertainment Corp.	0.02%	573,078	$19M	new	+0.02 pp	new
MATXMatsons, Inc.	0.02%	322,762	$25M	trimmed−1%	0.00 pp	15 q
ODFLOld Dominion Freight Line	0.02%	66,350	$25M	trimmed−36%	−0.01 pp	15 q
SAIASaia, Inc.	0.02%	59,300	$20M	held	—	5 q
UUnity Software Inc.	0.02%	675,207	$29M	trimmed−1%	0.00 pp	12 q
WATWaters Corp	0.02%	88,044	$23M	added+13%	0.00 pp	11 q
OPTUOptimum Communications, Inc.	0.01%	5,285,000	$16M	added×3.4	+0.01 pp	14 q
AM6Amicus Therapeutics Inc	0.01%	1,094,200	$14M	trimmed−5%	0.00 pp	15 q
ARRYArray Technologies, Inc.	0.01%	760,700	$17M	trimmed−35%	−0.01 pp	5 q
AMKAssetMark Financial Holdings, Inc.	0.01%	251,700	$7M	held	—	8 q
AZOAutoZone, Inc.	0.01%	2,750	$7M	held	—	15 q
BBIOBridgeBio Pharma, Inc.	0.01%	696,092	$12M	trimmed−6%	0.00 pp	10 q
ENOVEnovis Corporation	0.01%	143,066	$9M	held	—	5 q
CMCSAComcast Corp	0.01%	345,800	$14M	trimmed−0%	0.00 pp	15 q
STZConstellation Brands, Inc.	0.01%	25,700	$6M	held	—	15 q
DGDollar General Corp.	0.01%	65,350	$11M	added+7%	0.00 pp	7 q
DASHDoorDash, Inc. Class A	0.01%	127,290	$10M	trimmed−11%	0.00 pp	11 q
EPREPR Properties	0.01%	139,600	$7M	trimmed−3%	+0.01 pp	13 q
ESABESAB Corporation	0.01%	132,565	$9M	held	—	5 q
LABStandard BioTools Inc.	0.01%	3,220,917	$6M	trimmed−28%	0.00 pp	15 q
GXOGXO Logistics, Inc.	0.01%	232,400	$15M	added+4%	0.00 pp	8 q
ROCKGibraltar Industries, Inc.	0.01%	161,200	$10M	trimmed−35%	0.00 pp	15 q
GTLBGitLab Inc. Class A	0.01%	122,140	$6M	trimmed−6%	+0.01 pp	7 q
GFFGriffon Corp	0.01%	167,300	$7M	new	+0.01 pp	new
HCATHealth Catalyst, Inc	0.01%	601,434	$8M	added+2%	0.00 pp	13 q
HTZHertz Global Holdings, Inc	0.01%	349,800	$6M	held	—	6 q
HUMHumana Inc.	0.01%	31,295	$14M	held	—	9 q
IMAXImax Corp	0.01%	1,052,800	$18M	trimmed−3%	−0.01 pp	15 q
JELDJELD-WEN Holding, Inc.	0.01%	361,600	$6M	held	—	10 q
KNXKnight-Swift Transportation Holdings Inc. Class A	0.01%	134,200	$7M	added+64%	+0.01 pp	3 q
LICYLi-cycle Holdings Corp	0.01%	2,693,100	$15M	added+24%	0.00 pp	8 q
unresolvedLeslies Inc	0.01%	976,800	$9M	held	—	7 q
SPHRSphere Entertainment Co.	0.01%	623,078	$17M	new	+0.01 pp	new
DOORMasonite International Corp	0.01%	174,500	$18M	trimmed−5%	0.00 pp	14 q
MRKMerck & Co., Inc.	0.01%	96,100	$11M	trimmed−5%	0.00 pp	15 q
NMIHNMI Holdings Inc.	0.01%	583,200	$15M	trimmed−11%	0.00 pp	15 q
NFENew Fortress Energy Inc. Class A	0.01%	498,800	$13M	added+62%	0.00 pp	12 q
LASRnLIGHT, Inc.	0.01%	524,260	$8M	trimmed−17%	0.00 pp	15 q
ORLYO'Reilly Automotive, Inc.	0.01%	11,000	$11M	held	—	10 q
OMCLOmnicell Inc	0.01%	124,707	$9M	held	—	10 q
PENPenumbra, Inc.	0.01%	43,290	$15M	held	—	15 q
PMPhilip Morris International Inc.	0.01%	132,800	$13M	trimmed−3%	0.00 pp	15 q
PROPros Holdings, Inc.	0.01%	308,740	$10M	trimmed−2%	0.00 pp	15 q
RXORXO, Inc.	0.01%	775,900	$18M	added+10%	0.00 pp	3 q
RMBSRambus Inc	0.01%	195,363	$13M	trimmed−18%	0.00 pp	15 q
RPDRapid7, Inc.	0.01%	188,850	$9M	trimmed−2%	0.00 pp	15 q
RGENRepligen Corp	0.01%	47,379	$7M	held	—	9 q
RBLXRoblox Corporation	0.01%	256,950	$10M	trimmed−1%	0.00 pp	8 q
TSNTyson Foods, Inc.	0.01%	347,500	$18M	trimmed−2%	−0.01 pp	15 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.01%	19,084	$9M	held	—	13 q
GTMZoomInfo Technologies Inc	0.01%	388,119	$10M	added+39%	0.00 pp	13 q
CRDOCredo Technology Group Holding Ltd	0.01%	848,600	$15M	added+12%	0.00 pp	5 q
STXSeagate Technology Holdings PLC (Ireland)	0.01%	274,700	$17M	trimmed−2%	−0.01 pp	3 q
9900123DPerimeter Solutions SA	0.01%	1,986,251	$12M	trimmed−2%	0.00 pp	7 q
CYBRCyberark Software LTD/ISRAEL	0.01%	61,750	$10M	added0%	0.00 pp	15 q
WVEWave Life Sciences Ltd.	0.01%	3,811,408	$14M	trimmed−9%	−0.01 pp	15 q
ARAYAccuray Incorporated	0.00%	180,800	$699,696	trimmed−23%	0.00 pp	15 q
ADPTAdaptive Biotechnologies Corporation	0.00%	146,190	$980,935	held	—	14 q
ALGTAllegiant Travel Company	0.00%	44,050	$6M	held	—	15 q
ABUSArbutus Biopharma Corporation	0.00%	328,100	$754,630	trimmed−5%	0.00 pp	15 q
ANETArista Networks	0.00%	7,150	$1M	held	—	15 q
AWIArmstrong World Industries, Inc.	0.00%	3,200	$235,072	held	—	15 q
BEBloom Energy Corporation	0.00%	49,600	$810,960	held	—	15 q
BOOTBoot Barn Holdings, Inc.	0.00%	67,100	$6M	held	—	15 q
CBOECboe Global Markets, Inc.	0.00%	16,900	$2M	trimmed−16%	0.00 pp	15 q
CIENCiena Corporation	0.00%	104,485	$4M	added+2%	0.00 pp	13 q
SCORcomScore, Inc.	0.00%	743,425	$602,174	held	—	15 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.00%	72,000	$1M	held	—	15 q
DRIDarden Restaurants, Inc.	0.00%	8,000	$1M	held	—	13 q
DECKDeckers Outdoor Corp	0.00%	4,614	$2M	added+5%	0.00 pp	3 q
DUOLDuolingo, Inc. Class A	0.00%	2,350	$335,909	held	—	2 q
FLYWFlywire Corporation Voting	0.00%	18,600	$577,344	added+1%	0.00 pp	5 q
FIVEFive Below, Inc.	0.00%	9,200	$2M	held	—	15 q
FTNTFortinet, Inc.	0.00%	70,450	$5M	added+2%	0.00 pp	2 q
FRSHFreshworks Inc. Class A	0.00%	123,900	$2M	held	—	7 q
ULCCFrontier Group Holdings, Inc.	0.00%	99,900	$966,033	held	—	9 q
GILGildan Activewear Inc.	0.00%	99,430	$3M	held	—	15 q
GEF.BGreif, Inc. Class B	0.00%	24,000	$2M	held	—	15 q
GRWGGrow Generation Corp	0.00%	1,159,900	$4M	held	—	6 q
GHGuardant Health, Inc.	0.00%	122,976	$4M	trimmed−32%	0.00 pp	12 q
HLNHaleon plc	0.00%	551,400	$5M	held	—	4 q
HANHawaiian Holdings Inc	0.00%	150,700	$2M	trimmed−5%	0.00 pp	15 q
IMGNImmunogen Inc	0.00%	273,100	$5M	trimmed−4%	0.00 pp	15 q
NGVTIngevity Corporation	0.00%	49,000	$3M	held	—	15 q
JAMFJamf Holding Corp.	0.00%	93,600	$2M	trimmed−4%	0.00 pp	9 q
MQMarqeta, Inc. Class A	0.00%	216,700	$1M	added+88%	0.00 pp	8 q
MREOMereo BioPharma Group plc	0.00%	157,700	$208,164	trimmed−47%	0.00 pp	15 q
NNBRNN Inc	0.00%	389,400	$930,666	trimmed−42%	0.00 pp	15 q
NKTRNektar Therapeutics	0.00%	8,149,876	$5M	trimmed−29%	−0.01 pp	15 q
MASS908 Devices Inc.	0.00%	26,870	$184,328	held	—	11 q
NUVANuVasive, Inc.	0.00%	69,900	$3M	trimmed−5%	0.00 pp	15 q
OSUROraSure Technologies Inc	0.00%	773,720	$4M	trimmed−3%	0.00 pp	15 q
RNGRingcentral, Inc.	0.00%	17,500	$572,775	added+30%	0.00 pp	14 q
RIVNRivian Automotive, Inc. Class A	0.00%	339,200	$6M	trimmed−1%	0.00 pp	7 q
SAFESafehold Inc.	0.00%	53,600	$1M	held	—	2 q
SG7Sage Therapeutics Inc	0.00%	63,600	$3M	trimmed−4%	0.00 pp	7 q
SSTKShutterstock, Inc.	0.00%	82,970	$4M	new	0.00 pp	new
SNAPSnap Inc.	0.00%	133,250	$2M	trimmed−3%	0.00 pp	13 q
SAVEQSpirit Airlines, Inc.	0.00%	220,300	$4M	trimmed−6%	0.00 pp	15 q
SNCYSun Country Airlines Holdings, Inc.	0.00%	99,905	$2M	held	—	10 q
TENBTenable Holdings, Inc.	0.00%	108,650	$5M	trimmed−4%	0.00 pp	6 q
ZIMVZimVie Inc.	0.00%	200,600	$2M	trimmed−36%	0.00 pp	6 q
AMBAAmbarella, Inc.	0.00%	33,100	$3M	trimmed−63%	−0.01 pp	12 q
BIOXBioceres Crop Solutions Corp.	0.00%	43,700	$583,832	trimmed−10%	0.00 pp	4 q
GANGan Ltd	0.00%	71,600	$117,424	trimmed−89%	0.00 pp	13 q
MAXRMaxar Technologies Inc.	—	−528,150	—	exited	−0.02 pp	—
USBU.S. Bancorp	—	−442,700	—	exited	−0.01 pp	—
CVGWCalavo Growers Inc	—	−7,600	—	exited	0.00 pp	—
FAROFaro Technologies Inc	—	−12,800	—	exited	0.00 pp	—
GOGrocery Outlet Holding Corp.	—	−10,000	—	exited	0.00 pp	—
unresolvedThe Real Good Food Company I	—	−10,000	—	exited	0.00 pp	—
TSPHCreateai Holdings Inc A	—	−32,000	—	exited	0.00 pp	—