PRIMECAP

Q4 2023 13F · by Joel Fried, portfolio manager

As of: Dec 31, 2023
Filed: Feb 9, 2024
US stock: $126.3B · prev $118.5B
Positions: 334 · 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%

Moves268 since the prior filing

+1.2 pp in · −1.3 pp out

New 8 +0.14 pp
Added 67 +1.10 pp
Trimmed 188 +0.29 pp
Exited 5 −1.54 pp

The book

Diversified · behaves like 43 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 3.8% a year, about 26.6 years per position

Low
Moderate
High

Top 5 positions23% of US stock

Positions334 in this filing · 5 exited


LLYEli Lilly & Co.	10.25%	22,200,534	$12.9B	trimmed−4%	−0.21 pp	17 q
AMGNAmgen Inc	3.33%	14,591,468	$4.2B	trimmed−1%	−0.01 pp	17 q
BIIBBiogen Inc.	3.33%	16,264,481	$4.2B	added+2%	−0.14 pp	17 q
MSFTMicrosoft Corp	3.08%	10,354,697	$3.9B	trimmed−1%	+0.29 pp	17 q
INTCIntel Corp	2.99%	75,237,927	$3.8B	added+1%	+0.75 pp	17 q
ADBEAdobe Inc.	2.81%	5,942,278	$3.5B	trimmed−2%	+0.21 pp	17 q
KLACKLA Corporation	2.71%	5,890,309	$3.4B	trimmed−2%	+0.38 pp	17 q
FDXFedEx Corporation	2.58%	12,902,957	$3.3B	trimmed−1%	−0.34 pp	17 q
MUMicron Technology, Inc.	2.53%	37,491,511	$3.2B	trimmed−0%	+0.37 pp	17 q
AZNNAstrazeneca Plc-spons ADR	2.29%	42,987,075	$2.9B	trimmed−2%	−0.22 pp	17 q
GOOGLAlphabet Inc. Class A	2.12%	19,200,410	$2.7B	trimmed−1%	−0.02 pp	17 q
TXNTexas Instruments Incorporated	2.11%	15,614,995	$2.7B	trimmed−1%	−0.01 pp	17 q
TSLATesla, Inc.	1.79%	9,075,585	$2.3B	trimmed−1%	−0.14 pp	17 q
BSXBoston Scientific Corp.	1.73%	37,905,659	$2.2B	added+1%	+0.07 pp	17 q
WFCWells Fargo & Co.	1.67%	42,829,870	$2.1B	trimmed−2%	+0.16 pp	17 q
SONYSony Group Corporation	1.66%	22,173,343	$2.1B	trimmed−2%	+0.08 pp	17 q
GOOGAlphabet Inc. Class C	1.42%	12,738,775	$1.8B	trimmed−1%	−0.02 pp	17 q
BMRNBioMarin Pharmaceuticals Inc	1.41%	18,414,374	$1.8B	added0%	+0.04 pp	17 q
SPLKSplunk Inc	1.31%	10,820,268	$1.6B	trimmed−2%	−0.05 pp	17 q
TMOThermo Fisher Scientific, Inc.	1.26%	3,002,872	$1.6B	trimmed−1%	−0.03 pp	17 q
ROSTRoss Stores Inc	1.18%	10,806,804	$1.5B	trimmed−1%	+0.14 pp	17 q
LUVSouthwest Airlines Co.	1.13%	49,444,947	$1.4B	trimmed−1%	−0.01 pp	17 q
BABAAlibaba Group Holding Limited	1.12%	18,224,982	$1.4B	added+5%	−0.15 pp	17 q
ORCLOracle Corp	1.10%	13,133,401	$1.4B	trimmed−0%	−0.07 pp	17 q
RJFRaymond James Financial, Inc.	1.09%	12,317,607	$1.4B	trimmed−2%	+0.02 pp	17 q
FLEXFlex Ltd.	1.09%	45,139,254	$1.4B	trimmed−2%	+0.04 pp	17 q
ACMAecom	1.03%	14,009,719	$1.3B	trimmed−4%	+0.01 pp	17 q
NTAPNetApp, Inc	1.03%	14,709,824	$1.3B	trimmed−3%	+0.05 pp	17 q
NVSNovartis AG	1.03%	12,905,697	$1.3B	trimmed−12%	−0.22 pp	17 q
NVDANvidia Corp	1.01%	2,576,730	$1.3B	trimmed−0%	+0.06 pp	17 q
TJXTJX Companies, Inc. (The)	1.00%	13,491,848	$1.3B	trimmed−1%	−0.02 pp	17 q
BMYBristol-Myers Squibb Co.	0.96%	23,534,378	$1.2B	added+15%	−0.05 pp	17 q
HESHess Corporation	0.91%	7,970,450	$1.1B	trimmed−2%	−0.14 pp	17 q
BIDUBaidu, Inc.	0.88%	9,283,034	$1.1B	added0%	−0.17 pp	17 q
INTUIntuit Inc	0.86%	1,736,031	$1.1B	trimmed−1%	+0.10 pp	17 q
PXDPioneer Natural Resource Co.	0.85%	4,760,256	$1.1B	trimmed−2%	−0.09 pp	17 q
VVISA Inc.	0.83%	4,046,151	$1.1B	added0%	+0.05 pp	17 q
UALUnited Airlines Holdings, Inc.	0.76%	23,353,324	$964M	trimmed−0%	−0.08 pp	17 q
ONCBeOne Medicines Ltd.	0.71%	4,988,639	$900M	trimmed−0%	−0.05 pp	17 q
DALDelta Air Lines, Inc.	0.71%	22,199,858	$893M	trimmed−0%	+0.02 pp	17 q
JJacobs Solutions Inc.	0.63%	6,097,102	$791M	trimmed−2%	−0.09 pp	6 q
MATMattel, Inc.	0.62%	41,178,489	$777M	trimmed−1%	−0.15 pp	17 q
RCLRoyal Caribbean Group	0.62%	6,001,561	$777M	trimmed−3%	+0.14 pp	17 q
JPMJPMorgan Chase & Co.	0.61%	4,524,046	$770M	trimmed−15%	−0.04 pp	17 q
ELANElanco Animal Health Incorporated	0.60%	50,600,324	$754M	added+3%	+0.13 pp	17 q
QCOMQualcomm Inc	0.60%	5,211,042	$754M	trimmed−12%	+0.05 pp	17 q
ADIAnalog Devices, Inc.	0.57%	3,656,705	$726M	trimmed−1%	+0.02 pp	17 q
AMZNAmazon.Com Inc	0.52%	4,325,350	$657M	added0%	+0.06 pp	17 q
HPQHP Inc.	0.50%	20,801,915	$626M	added0%	+0.05 pp	17 q
ZBHZimmer Biomet Holdings, Inc.	0.49%	5,086,578	$619M	added+11%	+0.05 pp	17 q
NTRSNorthern Trust Corp	0.46%	6,891,902	$582M	added+6%	+0.08 pp	17 q
WHRWhirlpool Corp.	0.46%	4,729,936	$576M	added+1%	−0.07 pp	17 q
DISThe Walt Disney Company	0.45%	6,276,477	$567M	added+4%	+0.04 pp	17 q
MRSHMarsh	0.44%	2,906,344	$551M	trimmed−1%	−0.03 pp	17 q
HPEHewlett Packard Enterprise Company	0.43%	32,152,126	$546M	trimmed−2%	−0.05 pp	17 q
CATCaterpillar Inc.	0.42%	1,804,480	$534M	trimmed−3%	−0.01 pp	17 q
AMATApplied Materials Inc	0.41%	3,234,083	$524M	trimmed−4%	+0.02 pp	17 q
TDGTransDigm Group Incorporated	0.41%	510,994	$517M	trimmed−3%	+0.03 pp	17 q
ALBAlbemarle Corporation	0.40%	3,476,674	$502M	added+56%	+0.08 pp	17 q
AALAmerican Airlines Group Inc.	0.40%	37,047,931	$509M	trimmed−0%	0.00 pp	17 q
BNTXBioNTech SE	0.40%	4,763,453	$503M	added+3%	−0.02 pp	17 q
JBLJabil Inc.	0.38%	3,722,975	$474M	trimmed−4%	−0.03 pp	17 q
UPSUnited Parcel Service, Inc. Class B	0.36%	2,897,291	$456M	trimmed−1%	−0.02 pp	17 q
GSKGSK plc	0.35%	12,089,370	$448M	added0%	−0.02 pp	6 q
ASMLASML Holding NV	0.35%	579,179	$438M	trimmed−3%	+0.05 pp	15 q
KMXCarMax Inc.	0.34%	5,587,871	$429M	trimmed−2%	0.00 pp	17 q
TXTTextron, Inc.	0.34%	5,375,995	$432M	trimmed−0%	−0.02 pp	17 q
BACBank of America Corporation	0.32%	11,952,906	$402M	trimmed−13%	0.00 pp	17 q
UNPUnion Pacific Corp.	0.32%	1,625,700	$399M	trimmed−0%	+0.04 pp	17 q
CMECME Group Inc.	0.30%	1,787,730	$376M	trimmed−1%	−0.01 pp	17 q
AAPLApple Inc.	0.29%	1,925,800	$371M	trimmed−0%	+0.01 pp	17 q
RYTMRhythm Pharmaceuticals, Inc.	0.29%	8,052,648	$370M	trimmed−3%	+0.13 pp	17 q
OLEDUniversal Display Corp	0.29%	1,912,282	$366M	trimmed−5%	+0.02 pp	17 q
ENTGEntegris Inc	0.28%	2,987,244	$358M	trimmed−0%	+0.04 pp	17 q
CSCOCisco Systems, Inc. (DE)	0.27%	6,849,690	$346M	trimmed−3%	−0.05 pp	17 q
EOGEOG Resources, Inc.	0.27%	2,792,229	$338M	trimmed−1%	−0.03 pp	17 q
ERICEricsson	0.27%	53,963,871	$340M	trimmed−2%	+0.04 pp	17 q
MKTXMarketAxess Holdings Inc.	0.26%	1,122,560	$329M	added0%	+0.06 pp	17 q
ABTAbbott Laboratories	0.25%	2,858,141	$315M	trimmed−3%	+0.01 pp	17 q
RIGTransocean LTD.	0.25%	50,699,389	$322M	added+11%	−0.07 pp	17 q
LIVNLivaNova PLC	0.24%	5,791,280	$300M	added0%	−0.02 pp	17 q
AAgilent Technologies Inc.	0.22%	2,028,891	$282M	trimmed−3%	+0.02 pp	17 q
CVSCvs Health Corporation	0.22%	3,443,795	$272M	added0%	+0.02 pp	17 q
GLWCorning Incorporated	0.21%	8,678,819	$264M	trimmed−1%	−0.02 pp	17 q
TRMBTrimble Inc.	0.21%	5,025,141	$267M	added+4%	−0.01 pp	17 q
CARRCarrier Global Corporation	0.20%	4,337,462	$249M	trimmed−10%	−0.02 pp	15 q
BBWIBath & Body Works, Inc.	0.19%	5,604,915	$242M	trimmed−0%	+0.03 pp	17 q
METAMeta Platforms, Inc. Class A	0.19%	677,725	$240M	added+1%	+0.02 pp	17 q
NTNXNutanix, Inc. Class A	0.19%	5,105,193	$243M	trimmed−6%	+0.03 pp	17 q
XMTRXometry, Inc. Class A	0.19%	6,652,858	$239M	added0%	+0.09 pp	11 q
CWCurtiss-Wright Corp.	0.18%	1,010,630	$225M	trimmed−3%	+0.01 pp	17 q
PGRProgressive Corporation	0.18%	1,463,750	$233M	trimmed−0%	+0.01 pp	17 q
DLTRDollar Tree Inc.	0.17%	1,485,385	$211M	trimmed−1%	+0.04 pp	15 q
DDDuPont de Nemours, Inc.	0.17%	2,716,656	$209M	trimmed−4%	−0.01 pp	17 q
GDGeneral Dynamics Corporation	0.17%	842,650	$219M	trimmed−1%	+0.01 pp	17 q
CPRICapri Holdings Limited	0.17%	4,225,653	$212M	trimmed−5%	−0.03 pp	17 q
DSGXDescartes Systems Group Inc	0.16%	2,342,953	$197M	trimmed−9%	0.00 pp	17 q
DFSDiscover Financial Services	0.16%	1,794,919	$202M	trimmed−2%	+0.03 pp	17 q
MARMarriott International Class A	0.16%	876,500	$198M	trimmed−0%	+0.01 pp	17 q
CCitigroup Inc.	0.15%	3,715,846	$191M	trimmed−3%	+0.02 pp	17 q
XNCRXencor, Inc.	0.15%	8,901,607	$189M	added+9%	+0.01 pp	17 q
MAMastercard Incorporated	0.14%	419,400	$179M	trimmed−0%	0.00 pp	17 q
XPEVXPeng Inc.	0.14%	12,497,823	$182M	added+5%	−0.04 pp	14 q
ADSKAutodesk Inc	0.13%	650,400	$158M	held	—	17 q
MSMorgan Stanley	0.13%	1,770,204	$165M	trimmed−30%	−0.05 pp	13 q
OTISOtis Worldwide Corporation	0.13%	1,882,741	$168M	added+11%	+0.01 pp	15 q
PINSPinterest, Inc. Class A	0.13%	4,498,600	$167M	trimmed−5%	+0.02 pp	17 q
SYYSysco Corporation	0.13%	2,199,500	$161M	added+2%	+0.01 pp	12 q
ALKAlaska Air Group, Inc.	0.12%	3,862,547	$151M	trimmed−0%	0.00 pp	17 q
PANWPalo Alto Networks, Inc.	0.12%	507,965	$150M	trimmed−1%	+0.02 pp	17 q
TERTeradyne, Inc.	0.12%	1,426,695	$155M	trimmed−2%	0.00 pp	17 q
ACLSAxcelis Technologies Inc	0.11%	1,042,046	$135M	trimmed−0%	−0.03 pp	17 q
EWEdwards Lifesciences Corp	0.11%	1,901,000	$145M	trimmed−2%	0.00 pp	17 q
FCXFreeport-McMoran Inc.	0.11%	3,318,000	$141M	added+1%	+0.01 pp	13 q
GSGoldman Sachs Group Inc.	0.11%	350,850	$135M	trimmed−41%	−0.05 pp	13 q
PODDInsulet Corporation	0.11%	643,478	$140M	trimmed−6%	+0.02 pp	17 q
TWTradeweb Markets Inc. Class A	0.11%	1,586,895	$144M	trimmed−0%	0.00 pp	17 q
BBBlackBerry Limited	0.10%	34,835,822	$123M	trimmed−0%	−0.04 pp	17 q
BURLBurlington Stores, Inc.	0.10%	620,100	$121M	trimmed−0%	+0.03 pp	17 q
FORMFormFactor Inc.	0.10%	3,030,914	$126M	trimmed−0%	+0.01 pp	17 q
JBHTJB Hunt Transport Services Inc	0.10%	648,500	$130M	trimmed−1%	0.00 pp	6 q
KEYSKeysight Technologies, Inc.	0.10%	763,280	$121M	trimmed−2%	+0.01 pp	17 q
NFENew Fortress Energy Inc. Class A	0.10%	3,438,300	$130M	added×6.5	+0.09 pp	14 q
SYKStryker Corporation	0.10%	436,100	$131M	added+4%	0.00 pp	17 q
CSXCSX Corporation	0.09%	3,299,600	$114M	held	—	17 q
CCLCarnival Corporation Ltd.	0.09%	6,317,278	$117M	trimmed−1%	+0.02 pp	17 q
EAElectronic Arts Inc	0.09%	832,625	$114M	trimmed−1%	0.00 pp	17 q
EVREvercore Inc.	0.09%	656,880	$112M	held	—	9 q
FISFidelity National Information Services, Inc.	0.09%	1,812,300	$109M	trimmed−2%	0.00 pp	12 q
RVTYRevvity, Inc.	0.09%	988,935	$108M	trimmed−5%	−0.01 pp	17 q
QSRRestaurant Brands International Inc.	0.09%	1,498,900	$117M	held	—	17 q
TMUST-Mobile US, Inc.	0.09%	712,839	$114M	trimmed−0%	+0.01 pp	17 q
LINLinde plc	0.09%	276,000	$113M	held	—	4 q
DOWDow Inc.	0.08%	1,781,125	$98M	trimmed−4%	0.00 pp	17 q
EBAYeBay Inc	0.08%	2,341,160	$102M	trimmed−0%	−0.01 pp	17 q
HLTHilton Worldwide Holdings Inc.	0.08%	563,565	$103M	held	—	17 q
PYPLPayPal Holdings, Inc.	0.08%	1,708,850	$105M	trimmed−2%	−0.01 pp	17 q
ALKSAlkermes Inc. plc	0.08%	3,565,625	$99M	trimmed−8%	−0.01 pp	17 q
CTRACoterra Energy Inc.	0.07%	3,545,650	$90M	trimmed−4%	−0.01 pp	17 q
CHTRCharter Comm Inc Del CL A New	0.07%	239,850	$93M	held	—	17 q
LYFTLyft, Inc. Class A	0.07%	6,143,530	$92M	trimmed−1%	+0.01 pp	17 q
MCDMcDonald's Corporation	0.07%	291,600	$86M	held	—	17 q
MBLYMobileye Global Inc. Class A	0.07%	1,972,690	$85M	trimmed−2%	0.00 pp	5 q
SCHWThe Charles Schwab Corporation	0.07%	1,257,908	$87M	trimmed−1%	+0.01 pp	17 q
VLOValero Energy Corporation	0.07%	710,100	$92M	trimmed−4%	−0.02 pp	13 q
WEXWEX Inc.	0.07%	454,650	$88M	trimmed−4%	−0.01 pp	12 q
WOLFWolfspeed, Inc.	0.07%	1,906,494	$83M	added+2%	+0.01 pp	9 q
AMEAmetek, Inc.	0.06%	470,900	$78M	held	—	16 q
ARMArm Holdings plc	0.06%	953,740	$72M	trimmed−2%	+0.02 pp	2 q
BABoeing Company	0.06%	299,300	$78M	new	+0.06 pp	new
CTVACorteva, Inc.	0.06%	1,624,978	$78M	trimmed−4%	−0.01 pp	17 q
IEXIDEX Corporation	0.06%	324,380	$70M	trimmed−3%	0.00 pp	17 q
IQVIQVIA Holdings Inc.	0.06%	313,336	$72M	added0%	+0.01 pp	16 q
LYVLive Nation Entertainment Inc.	0.06%	816,060	$76M	trimmed−1%	0.00 pp	14 q
NFLXNetFlix Inc	0.06%	167,390	$81M	trimmed−1%	+0.01 pp	7 q
NWLNewell Brands Inc.	0.06%	8,511,972	$74M	added+35%	+0.01 pp	17 q
LUNGPulmonx Corporation	0.06%	5,646,451	$72M	added+2%	+0.01 pp	13 q
ROKRockwell Automation, Inc.	0.06%	261,990	$81M	trimmed−0%	0.00 pp	17 q
CRMSalesforce, Inc.	0.06%	308,900	$81M	held	—	17 q
UBERUber Technologies, Inc.	0.06%	1,323,450	$81M	trimmed−4%	+0.01 pp	15 q
WDCWestern Digital Corp.	0.06%	1,542,608	$81M	trimmed−32%	−0.03 pp	17 q
ZMZoom Communications, Inc. Class A	0.06%	1,005,450	$72M	added+89%	+0.03 pp	16 q
MDTMedtronic plc	0.06%	876,695	$72M	trimmed−0%	0.00 pp	17 q
BJBJs Wholesale Club Holdings, Inc.	0.05%	879,300	$59M	held	—	17 q
AVGOBroadcom Inc.	0.05%	58,371	$65M	new	+0.05 pp	new
CCJCameco Corporation	0.05%	1,418,700	$61M	trimmed−1%	0.00 pp	17 q
CRLCharles River Laboratories International, Inc.	0.05%	273,930	$65M	held	—	17 q
DHRDanaher Corporation	0.05%	248,737	$58M	trimmed−0%	0.00 pp	11 q
GKOSGlaukos Corporation	0.05%	790,035	$63M	added+24%	+0.01 pp	17 q
IRBTiRobot Corporation	0.05%	1,761,755	$68M	trimmed−2%	−0.01 pp	17 q
MXLMaxLinear, Inc.	0.05%	2,403,050	$57M	trimmed−5%	0.00 pp	17 q
OKTAOkta, Inc. Class A	0.05%	655,266	$59M	trimmed−1%	0.00 pp	16 q
RYAAYRyanair Holdings plc	0.05%	515,300	$69M	held	—	17 q
VSXYVictorias Secret & Co.	0.05%	2,344,667	$62M	trimmed−1%	+0.02 pp	10 q
ALCAlcon Inc.	0.05%	791,915	$62M	trimmed−0%	0.00 pp	17 q
ARLOArlo Technologies, Inc.	0.04%	4,876,641	$46M	added+3%	0.00 pp	17 q
AURAurora Innovation, Inc. Class A	0.04%	10,212,700	$45M	held	—	9 q
CRWDCrowdStrike Holdings, Inc. Class A	0.04%	201,885	$52M	trimmed−0%	+0.01 pp	17 q
HONHoneywell International, Inc.	0.04%	221,000	$46M	held	—	17 q
HUBSHubspot, Inc.	0.04%	92,350	$54M	trimmed−1%	0.00 pp	17 q
ILMNIllumina Inc	0.04%	407,325	$57M	trimmed−2%	−0.01 pp	17 q
LHXL3Harris Technologies, Inc.	0.04%	251,300	$53M	held	—	16 q
MRVLMarvell Technology, Inc.	0.04%	767,700	$46M	added+7%	+0.01 pp	4 q
NBIXNeurocrine Biosciences Inc	0.04%	398,323	$52M	added+2%	0.00 pp	5 q
NXTNextpower Inc.	0.04%	1,002,770	$47M	trimmed−11%	0.00 pp	4 q
NSCNorfolk Southern Corp.	0.04%	224,100	$53M	trimmed−2%	0.00 pp	17 q
SNYSanofi	0.04%	1,123,030	$56M	trimmed−0%	−0.01 pp	17 q
SLBSLB Limited	0.04%	965,000	$50M	held	—	17 q
SWAVShockwave Medical, Inc.	0.04%	282,770	$54M	added+1%	−0.01 pp	14 q
SW5Southwestern Energy Co	0.04%	8,658,000	$57M	trimmed−3%	−0.01 pp	17 q
XPOXPO, Inc.	0.04%	585,100	$51M	trimmed−20%	−0.01 pp	12 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.04%	2,281,670	$46M	trimmed−1%	+0.01 pp	17 q
NVTnVent Electric plc	0.04%	859,000	$51M	held	—	17 q
ALTRAltair Engineering Inc. Class A	0.03%	384,813	$32M	trimmed−9%	+0.01 pp	17 q
MOAltria Group, Inc.	0.03%	1,031,200	$42M	trimmed−3%	−0.01 pp	17 q
BNYBank of New York Mellon Corporation	0.03%	636,800	$33M	held	—	4 q
BBIOBridgeBio Pharma, Inc.	0.03%	944,000	$38M	added+1%	+0.01 pp	12 q
DEDeere & Company	0.03%	86,910	$35M	trimmed−8%	0.00 pp	17 q
DELLDell Technologies Inc.	0.03%	434,720	$33M	trimmed−1%	0.00 pp	17 q
EXKExact Sciences Corp	0.03%	479,300	$35M	held	—	17 q
GFLGFL Environmental Inc. Subordinate Voting Shares	0.03%	997,900	$34M	added+1%	0.00 pp	5 q
INDIindie Semiconductor, Inc. Class A	0.03%	5,060,480	$41M	added+21%	+0.01 pp	10 q
KEYKeyCorp	0.03%	2,328,500	$34M	added+6%	+0.01 pp	2 q
LPLALPL Financial Holdings Inc.	0.03%	150,000	$34M	held	—	16 q
LOWLowe's Companies Inc.	0.03%	150,000	$33M	held	—	12 q
MGMMgm Resorts International	0.03%	818,950	$37M	trimmed−0%	0.00 pp	17 q
MOG.AMoog Inc.	0.03%	243,700	$35M	added+4%	+0.01 pp	2 q
OSISOSI Systems Inc	0.03%	285,200	$37M	added+2%	0.00 pp	17 q
OLLIOllie's Bargain Outlet Holdings, Inc.	0.03%	544,970	$41M	trimmed−0%	−0.01 pp	10 q
RTXRTX Corporation	0.03%	402,232	$34M	trimmed−0%	+0.01 pp	17 q
TTDThe Trade Desk, Inc.	0.03%	573,700	$41M	held	—	4 q
ULTAUlta Beauty, Inc.	0.03%	67,970	$33M	trimmed−0%	+0.01 pp	17 q
STXSeagate Technology Holdings PLC (Ireland)	0.03%	393,650	$34M	added+40%	+0.01 pp	5 q
FTITechnipFMC plc	0.03%	1,842,200	$37M	held	—	17 q
SSYSStratasys Inc (ISRAEL)	0.03%	2,776,999	$40M	trimmed−7%	0.00 pp	17 q
AXONAxon Enterprise, Inc.	0.02%	105,000	$27M	trimmed−11%	0.00 pp	17 q
LKFTLakefront Biotherapeutics	0.02%	678,877	$28M	added+1%	0.00 pp	4 q
KEXKirby Corporation	0.02%	328,500	$26M	trimmed−6%	0.00 pp	13 q
LVSLas Vegas Sands Corp.	0.02%	448,500	$22M	trimmed−2%	0.00 pp	17 q
SPHRSphere Entertainment Co.	0.02%	623,028	$21M	held	—	3 q
MATXMatsons, Inc.	0.02%	213,862	$23M	trimmed−11%	0.00 pp	17 q
MDBMongoDB, Inc. Class A	0.02%	63,700	$26M	trimmed−10%	0.00 pp	14 q
ODFLOld Dominion Freight Line	0.02%	59,150	$24M	trimmed−4%	0.00 pp	17 q
RXORXO, Inc.	0.02%	829,000	$19M	added+1%	+0.01 pp	5 q
SAIASaia, Inc.	0.02%	61,500	$27M	added+4%	0.00 pp	7 q
UUnity Software Inc.	0.02%	672,847	$28M	added+1%	0.00 pp	14 q
WATWaters Corp	0.02%	92,259	$30M	trimmed−6%	0.00 pp	13 q
WSCWillScot Holdings Corporation Class A	0.02%	679,400	$30M	held	—	15 q
WVEWave Life Sciences Ltd.	0.02%	3,759,408	$19M	trimmed−1%	0.00 pp	17 q
ALLOAllogene Therapeutics, Inc.	0.01%	5,281,886	$17M	trimmed−0%	0.00 pp	13 q
OPTUOptimum Communications, Inc.	0.01%	5,285,000	$17M	held	—	16 q
AMHAmerican Homes 4 Rent	0.01%	399,300	$14M	trimmed−16%	0.00 pp	15 q
AM6Amicus Therapeutics Inc	0.01%	1,094,200	$16M	held	—	17 q
ARRYArray Technologies, Inc.	0.01%	779,700	$13M	added+3%	0.00 pp	7 q
AMKAssetMark Financial Holdings, Inc.	0.01%	251,700	$8M	held	—	10 q
CERSCerus Corp	0.01%	8,613,000	$19M	held	—	17 q
ENOVEnovis Corporation	0.01%	143,066	$8M	held	—	7 q
CMCSAComcast Corp	0.01%	345,800	$15M	held	—	17 q
DGDollar General Corp.	0.01%	60,750	$8M	held	—	9 q
DASHDoorDash, Inc. Class A	0.01%	126,170	$12M	held	—	13 q
EPREPR Properties	0.01%	136,400	$7M	trimmed−0%	+0.01 pp	15 q
ESABESAB Corporation	0.01%	132,565	$11M	held	—	7 q
ETSYEtsy, Inc.	0.01%	130,400	$11M	trimmed−7%	0.00 pp	2 q
FGENKyntra Bio, Inc.	0.01%	14,471,928	$13M	trimmed−2%	0.00 pp	17 q
LABStandard BioTools Inc.	0.01%	3,053,943	$7M	trimmed−1%	0.00 pp	17 q
GXOGXO Logistics, Inc.	0.01%	232,400	$14M	held	—	10 q
ITGartner, Inc.	0.01%	35,000	$16M	new	+0.01 pp	new
ROCKGibraltar Industries, Inc.	0.01%	102,300	$8M	trimmed−10%	0.00 pp	17 q
GTLBGitLab Inc. Class A	0.01%	123,990	$8M	added+2%	+0.01 pp	9 q
GFFGriffon Corp	0.01%	221,700	$14M	held	—	3 q
HCATHealth Catalyst, Inc	0.01%	1,419,577	$13M	added+27%	0.00 pp	15 q
HUMHumana Inc.	0.01%	38,795	$18M	held	—	11 q
IMAXImax Corp	0.01%	1,029,200	$15M	trimmed−2%	−0.01 pp	17 q
IMGNImmunogen Inc	0.01%	273,100	$8M	held	—	17 q
JELDJELD-WEN Holding, Inc.	0.01%	338,300	$6M	trimmed−3%	+0.01 pp	12 q
JBLUJetBlue Airways Corp	0.01%	3,351,100	$19M	trimmed−32%	−0.01 pp	17 q
KNXKnight-Swift Transportation Holdings Inc. Class A	0.01%	173,700	$10M	added+15%	0.00 pp	5 q
unresolvedLeslies Inc	0.01%	976,800	$7M	held	—	9 q
MSGEMadison Square Garden Entertainment Corp.	0.01%	573,028	$18M	held	—	3 q
DOORMasonite International Corp	0.01%	173,900	$15M	held	—	16 q
MRKMerck & Co., Inc.	0.01%	84,500	$9M	trimmed−9%	0.00 pp	17 q
NMIHNMI Holdings Inc.	0.01%	472,470	$14M	trimmed−1%	0.00 pp	17 q
NICENICE Ltd	0.01%	50,250	$10M	new	+0.01 pp	new
PENPenumbra, Inc.	0.01%	42,860	$11M	trimmed−1%	0.00 pp	17 q
PFGCPerformance Food Group Company	0.01%	162,400	$11M	new	+0.01 pp	new
PMPhilip Morris International Inc.	0.01%	79,500	$7M	trimmed−9%	0.00 pp	17 q
PROPros Holdings, Inc.	0.01%	304,940	$12M	trimmed−0%	0.00 pp	17 q
RMBSRambus Inc	0.01%	134,963	$9M	trimmed−19%	0.00 pp	17 q
RPDRapid7, Inc.	0.01%	187,050	$11M	held	—	17 q
RGENRepligen Corp	0.01%	52,629	$9M	added+4%	0.00 pp	11 q
RIVNRivian Automotive, Inc. Class A	0.01%	334,880	$8M	trimmed−1%	0.00 pp	9 q
RBLXRoblox Corporation	0.01%	218,550	$10M	trimmed−2%	0.00 pp	10 q
TSNTyson Foods, Inc.	0.01%	348,500	$19M	added0%	0.00 pp	17 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.01%	20,014	$11M	held	—	15 q
ZNTLZentalis Pharmaceuticals, Inc.	0.01%	1,023,350	$16M	trimmed−1%	−0.01 pp	15 q
GTMZoomInfo Technologies Inc	0.01%	451,619	$8M	added+6%	0.00 pp	15 q
CRDOCredo Technology Group Holding Ltd	0.01%	840,600	$16M	trimmed−1%	0.00 pp	7 q
TROXTronox Limited Cl A	0.01%	1,234,700	$17M	added+8%	0.00 pp	2 q
9900123DPerimeter Solutions SA	0.01%	1,928,351	$9M	trimmed−2%	0.00 pp	9 q
CYBRCyberark Software LTD/ISRAEL	0.01%	61,550	$13M	held	—	17 q
ARAYAccuray Incorporated	0.00%	179,200	$507,136	trimmed−1%	0.00 pp	17 q
ADPTAdaptive Biotechnologies Corporation	0.00%	146,190	$716,331	held	—	16 q
ALGTAllegiant Travel Company	0.00%	41,950	$3M	held	—	17 q
AMLXAmylyx Pharmaceuticals, Inc.	0.00%	156,900	$2M	trimmed−49%	0.00 pp	2 q
ANETArista Networks	0.00%	7,150	$2M	held	—	17 q
BEBloom Energy Corporation	0.00%	49,600	$734,080	held	—	17 q
BOOTBoot Barn Holdings, Inc.	0.00%	65,830	$5M	held	—	17 q
LUCKLucky Strike Entertainment Corporation	0.00%	326,900	$5M	held	—	2 q
EATBrinker International, Inc.	0.00%	139,600	$6M	trimmed−66%	−0.01 pp	11 q
CBOECboe Global Markets, Inc.	0.00%	13,000	$2M	trimmed−14%	0.00 pp	17 q
CIENCiena Corporation	0.00%	109,185	$5M	held	—	15 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.00%	52,700	$494,326	held	—	17 q
DRIDarden Restaurants, Inc.	0.00%	8,000	$1M	held	—	15 q
DECKDeckers Outdoor Corp	0.00%	4,844	$3M	added+3%	0.00 pp	5 q
DUOLDuolingo, Inc. Class A	0.00%	2,350	$533,098	held	—	4 q
FLYWFlywire Corporation Voting	0.00%	147,300	$3M	added×7.7	0.00 pp	7 q
FIVEFive Below, Inc.	0.00%	9,100	$2M	trimmed−1%	0.00 pp	17 q
FTNTFortinet, Inc.	0.00%	70,450	$4M	held	—	4 q
FRSHFreshworks Inc. Class A	0.00%	108,500	$3M	trimmed−12%	0.00 pp	9 q
ULCCFrontier Group Holdings, Inc.	0.00%	113,200	$618,072	held	—	11 q
GILGildan Activewear Inc.	0.00%	99,000	$3M	held	—	17 q
GMEDGlobus Medical Inc	0.00%	52,125	$3M	trimmed−1%	0.00 pp	2 q
GEF.BGreif, Inc. Class B	0.00%	24,000	$2M	held	—	17 q
GRWGGrow Generation Corp	0.00%	1,159,900	$3M	held	—	8 q
GHGuardant Health, Inc.	0.00%	119,976	$3M	held	—	14 q
HLNHaleon plc	0.00%	551,400	$5M	held	—	6 q
HTZHertz Global Holdings, Inc	0.00%	349,800	$4M	held	—	8 q
NGVTIngevity Corporation	0.00%	52,000	$2M	held	—	17 q
IEIvanhoe Electric Inc.	0.00%	425,800	$4M	added+4%	0.00 pp	2 q
JAMFJamf Holding Corp.	0.00%	90,900	$2M	held	—	11 q
LICYLi-cycle Holdings Corp	0.00%	3,280,200	$2M	added+3%	−0.01 pp	10 q
MQMarqeta, Inc. Class A	0.00%	375,200	$3M	added+25%	0.00 pp	10 q
MREOMereo BioPharma Group plc	0.00%	54,000	$124,740	trimmed−32%	0.00 pp	17 q
NNBRNN Inc	0.00%	377,400	$2M	trimmed−1%	0.00 pp	17 q
NKTRNektar Therapeutics	0.00%	7,001,747	$4M	trimmed−3%	0.00 pp	17 q
MASS908 Devices Inc.	0.00%	26,870	$301,481	held	—	13 q
LASRnLIGHT, Inc.	0.00%	262,339	$4M	trimmed−3%	0.00 pp	17 q
OMCLOmnicell Inc	0.00%	124,167	$5M	trimmed−0%	0.00 pp	12 q
OSUROraSure Technologies Inc	0.00%	761,720	$6M	trimmed−1%	0.00 pp	17 q
RNGRingcentral, Inc.	0.00%	17,500	$594,125	held	—	16 q
SAFESafehold Inc.	0.00%	53,600	$1M	held	—	4 q
SG7Sage Therapeutics Inc	0.00%	74,950	$2M	trimmed−17%	0.00 pp	9 q
SSTKShutterstock, Inc.	0.00%	99,800	$5M	held	—	3 q
SNAPSnap Inc.	0.00%	133,250	$2M	held	—	15 q
SAVEQSpirit Airlines, Inc.	0.00%	23,100	$378,609	trimmed−89%	0.00 pp	17 q
SNCYSun Country Airlines Holdings, Inc.	0.00%	99,005	$2M	trimmed−1%	0.00 pp	12 q
TPRTapestry, Inc.	0.00%	52,500	$2M	new	0.00 pp	new
TENBTenable Holdings, Inc.	0.00%	108,900	$5M	held	—	8 q
TXG10x Genomics, Inc. Class A	0.00%	31,400	$2M	added+4%	0.00 pp	2 q
VLTOVeralto Corporation	0.00%	27,111	$2M	new	0.00 pp	new
ZIMVZimVie Inc.	0.00%	40,510	$719,052	trimmed−79%	0.00 pp	8 q
AMBAAmbarella, Inc.	0.00%	31,300	$2M	trimmed−5%	0.00 pp	14 q
BIOXBioceres Crop Solutions Corp.	0.00%	39,700	$545,081	trimmed−3%	0.00 pp	6 q
MURAMural Oncology PLC	0.00%	256,255	$2M	new	0.00 pp	new
SGENSeagen Inc.	—	−6,261,798	—	exited	−1.12 pp	—
AIYActivision Blizzard Inc	—	−4,618,105	—	exited	−0.36 pp	—
VMWVMware, Inc	—	−446,403	—	exited	−0.06 pp	—
AWIArmstrong World Industries, Inc.	—	−3,200	—	exited	0.00 pp	—
HANHawaiian Holdings Inc	—	−144,900	—	exited	0.00 pp	—