PRIMECAP

Q2 2026 13F · by Joel Fried, portfolio manager

As of: Jun 30, 2026
Filed: Aug 14, 2026
US stock: $169.1B · prev $127.0B
Positions: 324 · prev 320
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%

Moves278 since the prior filing

−2.1 pp in · +2.4 pp out

New 10 +0.64 pp
Added 82 −2.74 pp
Trimmed 180 +2.49 pp
Exited 6 −0.08 pp

The book

Focused · behaves like 30 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 9.3 years per position

Low
Moderate
High

Top 5 positions33% of US stock

Positions324 in this filing · 6 exited


MUMicron Technology, Inc.	13.12%	19,217,236	$22.2B	trimmed−12%	+7.30 pp	27 q
LLYEli Lilly & Co.	6.51%	9,172,904	$11.0B	trimmed−1%	−0.17 pp	27 q
INTCIntel Corp	6.21%	75,250,958	$10.5B	trimmed−1%	+3.58 pp	27 q
KLACKLA Corporation	3.66%	20,536,730	$6.2B	trimmed−16%	+0.83 pp	27 q
GOOGLAlphabet Inc. Class A	3.14%	14,859,769	$5.3B	trimmed−1%	−0.25 pp	27 q
FLEXFlex Ltd.	2.24%	23,358,875	$3.8B	trimmed−8%	+0.93 pp	27 q
AZNAstraZeneca PLC	2.03%	18,095,178	$3.4B	trimmed−1%	−0.80 pp	2 q
NVDANvidia Corp	2.02%	17,079,180	$3.4B	trimmed−1%	−0.34 pp	27 q
BIIBBiogen Inc.	1.94%	15,154,606	$3.3B	added+3%	−0.19 pp	27 q
AMZNAmazon.Com Inc	1.69%	11,962,188	$2.9B	trimmed−1%	−0.30 pp	27 q
MSFTMicrosoft Corp	1.58%	7,140,870	$2.7B	trimmed−2%	−0.54 pp	27 q
TSLATesla, Inc.	1.52%	6,103,030	$2.6B	trimmed−0%	−0.27 pp	27 q
FDXFedEx Corporation	1.51%	8,156,799	$2.6B	trimmed−2%	−0.82 pp	27 q
TXNTexas Instruments Incorporated	1.50%	8,514,989	$2.5B	trimmed−12%	+0.02 pp	27 q
LUVSouthwest Airlines Co.	1.48%	48,797,725	$2.5B	added+4%	+0.09 pp	27 q
AMGNAmgen Inc	1.45%	6,756,962	$2.4B	trimmed−24%	−1.01 pp	27 q
SCHWThe Charles Schwab Corporation	1.37%	25,120,895	$2.3B	added+7%	−0.36 pp	27 q
UALUnited Airlines Holdings, Inc.	1.32%	16,461,630	$2.2B	added+5%	+0.18 pp	27 q
BSXBoston Scientific Corp.	1.28%	50,520,914	$2.2B	added+55%	−0.33 pp	27 q
ROSTRoss Stores Inc	1.15%	9,104,980	$1.9B	trimmed−1%	−0.41 pp	27 q
GOOGAlphabet Inc. Class C	1.13%	5,399,060	$1.9B	trimmed−6%	−0.16 pp	27 q
BABAAlibaba Group Holding Limited	1.06%	18,611,306	$1.8B	trimmed−1%	−0.79 pp	27 q
DALDelta Air Lines, Inc.	0.97%	17,521,167	$1.6B	trimmed−0%	+0.05 pp	27 q
VVISA Inc.	0.87%	4,268,491	$1.5B	added+5%	−0.10 pp	27 q
BMYBristol-Myers Squibb Co.	0.85%	24,923,900	$1.4B	trimmed−0%	−0.34 pp	27 q
TJXTJX Companies, Inc. (The)	0.85%	9,476,020	$1.4B	trimmed−1%	−0.36 pp	27 q
ONCBeOne Medicines Ltd.	0.84%	5,007,931	$1.4B	added+1%	−0.32 pp	27 q
NTAPNetApp, Inc	0.83%	9,016,690	$1.4B	trimmed−0%	+0.10 pp	27 q
RJFRaymond James Financial, Inc.	0.83%	9,242,552	$1.4B	trimmed−1%	−0.24 pp	27 q
GSKGSK plc	0.78%	25,182,068	$1.3B	trimmed−0%	−0.32 pp	16 q
AALAmerican Airlines Group Inc.	0.76%	70,732,954	$1.3B	added+44%	+0.35 pp	27 q
BIDUBaidu, Inc.	0.74%	11,010,100	$1.3B	trimmed−0%	−0.23 pp	27 q
ADIAnalog Devices, Inc.	0.73%	3,128,329	$1.2B	trimmed−0%	−0.06 pp	27 q
JBLJabil Inc.	0.72%	3,167,120	$1.2B	trimmed−3%	+0.03 pp	27 q
COPConocoPhillips	0.71%	11,588,365	$1.2B	added0%	−0.49 pp	10 q
SONYSony Group Corporation	0.71%	59,603,230	$1.2B	added+2%	−0.24 pp	27 q
ELANElanco Animal Health Incorporated	0.66%	45,445,012	$1.1B	trimmed−1%	−0.20 pp	27 q
JPMJPMorgan Chase & Co.	0.65%	3,382,627	$1.1B	trimmed−1%	−0.14 pp	27 q
ADBEAdobe Inc.	0.63%	5,227,139	$1.1B	added+10%	−0.28 pp	27 q
NTRSNorthern Trust Corp	0.63%	6,100,742	$1.1B	trimmed−7%	−0.09 pp	27 q
GLWCorning Incorporated	0.62%	4,131,872	$1.1B	trimmed−0%	+0.18 pp	27 q
NVSNovartis AG	0.61%	6,592,124	$1.0B	trimmed−13%	−0.30 pp	27 q
TMOThermo Fisher Scientific, Inc.	0.59%	1,982,271	$994M	trimmed−0%	−0.18 pp	27 q
CATCaterpillar Inc.	0.55%	871,700	$928M	trimmed−0%	+0.06 pp	27 q
MRVLMarvell Technology, Inc.	0.49%	2,757,995	$822M	trimmed−7%	+0.26 pp	14 q
BMRNBioMarin Pharmaceuticals Inc	0.48%	14,190,183	$812M	trimmed−0%	−0.15 pp	27 q
NXTNextpower Inc.	0.47%	6,688,767	$797M	trimmed−1%	−0.17 pp	14 q
ORCLOracle Corp	0.47%	5,386,230	$789M	trimmed−5%	−0.19 pp	27 q
HPEHewlett Packard Enterprise Company	0.46%	17,140,875	$773M	trimmed−1%	+0.14 pp	27 q
AMATApplied Materials Inc	0.45%	1,042,926	$754M	trimmed−11%	+0.13 pp	27 q
IEXIDEX Corporation	0.44%	3,300,072	$749M	trimmed−0%	−0.05 pp	27 q
ASMLASML Holding NV	0.41%	351,576	$699M	trimmed−0%	+0.04 pp	25 q
DISThe Walt Disney Company	0.40%	7,020,957	$676M	added+13%	−0.07 pp	27 q
RCLRoyal Caribbean Group	0.40%	2,109,421	$670M	trimmed−10%	−0.11 pp	27 q
XMTRXometry, Inc. Class A	0.38%	6,636,057	$641M	added+2%	+0.17 pp	21 q
ILMNIllumina Inc	0.37%	3,514,649	$618M	added+70%	+0.17 pp	27 q
ACMAecom	0.36%	8,787,043	$613M	added+2%	−0.22 pp	27 q
AMDAdvanced Micro Devices	0.36%	1,047,730	$609M	trimmed−0%	+0.19 pp	5 q
FDXFFedEx Freight Holding Company, Inc.	0.36%	4,048,660	$611M	new	+0.36 pp	new
CSCOCisco Systems, Inc. (DE)	0.34%	4,838,460	$568M	trimmed−0%	+0.04 pp	27 q
JJacobs Solutions Inc.	0.34%	4,565,799	$575M	added+1%	−0.11 pp	16 q
ENTGEntegris Inc	0.33%	3,125,433	$562M	trimmed−1%	+0.04 pp	27 q
WFCWells Fargo & Co.	0.33%	6,712,022	$555M	trimmed−13%	−0.15 pp	27 q
HPQHP Inc.	0.32%	24,885,325	$546M	added+16%	0.00 pp	27 q
TDGTransDigm Group Incorporated	0.32%	410,217	$546M	held	—	27 q
AAPLApple Inc.	0.30%	1,760,880	$510M	held	—	27 q
DLTRDollar Tree Inc.	0.27%	3,768,875	$456M	added+1%	−0.05 pp	25 q
ERICEricsson	0.27%	41,613,613	$464M	added+11%	−0.06 pp	27 q
LINLinde plc	0.27%	886,920	$460M	trimmed−0%	−0.08 pp	14 q
FICOFair Isaac Corporation	0.26%	362,835	$434M	added+26%	+0.02 pp	5 q
CMECME Group Inc.	0.25%	1,904,643	$421M	added+5%	−0.17 pp	27 q
GKOSGlaukos Corporation	0.25%	3,040,705	$425M	trimmed−10%	−0.04 pp	27 q
PYPLPayPal Holdings, Inc.	0.25%	9,775,170	$422M	trimmed−3%	−0.11 pp	27 q
METAMeta Platforms, Inc. Class A	0.24%	708,290	$399M	trimmed−9%	−0.11 pp	27 q
MKTXMarketAxess Holdings Inc.	0.24%	3,504,905	$398M	added+5%	−0.19 pp	27 q
MATMattel, Inc.	0.24%	29,505,735	$410M	trimmed−1%	−0.10 pp	27 q
SNPSSynopsys Inc	0.24%	895,350	$399M	added+9%	−0.02 pp	6 q
USFDUS Foods Holding Corp.	0.24%	3,980,409	$407M	added+1%	−0.05 pp	9 q
BAHBooz Allen Hamilton Holding Corporation	0.23%	6,397,644	$388M	added+32%	−0.07 pp	6 q
CWCurtiss-Wright Corp.	0.23%	514,815	$390M	trimmed−4%	−0.06 pp	27 q
BNYBank of New York Mellon Corporation	0.22%	2,603,540	$376M	added+3%	−0.02 pp	14 q
CVXChevron Corporation	0.22%	2,285,458	$379M	trimmed−0%	−0.15 pp	4 q
ALBAlbemarle Corporation	0.21%	2,652,009	$358M	trimmed−0%	−0.17 pp	27 q
BNTXBioNTech SE	0.21%	3,772,031	$351M	trimmed−1%	−0.06 pp	27 q
DHRDanaher Corporation	0.21%	1,889,070	$360M	added+21%	−0.02 pp	21 q
MRSHMarsh	0.21%	2,145,025	$358M	added×3.0	+0.11 pp	27 q
PANWPalo Alto Networks, Inc.	0.21%	1,019,890	$348M	trimmed−1%	+0.08 pp	27 q
RYTMRhythm Pharmaceuticals, Inc.	0.21%	3,168,853	$352M	trimmed−7%	−0.02 pp	27 q
MAMastercard Incorporated	0.20%	654,691	$336M	added+12%	−0.03 pp	27 q
NFLXNetFlix Inc	0.20%	4,790,465	$342M	added+9%	−0.13 pp	17 q
WDCWestern Digital Corp.	0.20%	516,440	$330M	trimmed−11%	+0.08 pp	27 q
LIVNLivaNova PLC	0.20%	4,168,377	$343M	trimmed−1%	−0.01 pp	27 q
CCitigroup Inc.	0.19%	2,333,600	$327M	trimmed−2%	−0.02 pp	27 q
NSCNorfolk Southern Corp.	0.19%	1,032,910	$325M	trimmed−0%	−0.04 pp	27 q
SYYSysco Corporation	0.19%	3,750,929	$314M	added+1%	−0.02 pp	22 q
ZBHZimmer Biomet Holdings, Inc.	0.19%	3,816,680	$329M	trimmed−2%	−0.09 pp	27 q
EWEdwards Lifesciences Corp	0.18%	3,408,291	$308M	trimmed−0%	−0.04 pp	27 q
PFGCPerformance Food Group Company	0.18%	2,728,898	$305M	added+1%	0.00 pp	11 q
CARRCarrier Global Corporation	0.17%	3,866,183	$284M	added+1%	0.00 pp	25 q
INTUIntuit Inc	0.17%	1,110,067	$290M	added+4%	−0.19 pp	27 q
MDBMongoDB, Inc. Class A	0.17%	846,004	$284M	added0%	+0.01 pp	24 q
AVGOBroadcom Inc.	0.16%	736,773	$278M	trimmed−1%	−0.02 pp	11 q
BURLBurlington Stores, Inc.	0.16%	840,960	$266M	added+6%	−0.04 pp	27 q
FORMFormFactor Inc.	0.16%	1,690,114	$270M	trimmed−6%	+0.02 pp	27 q
AMTMAmentum Holdings, Inc.	0.15%	12,285,504	$254M	added+2%	−0.10 pp	8 q
CVSCvs Health Corporation	0.15%	2,385,490	$247M	trimmed−0%	+0.01 pp	27 q
KMXCarMax Inc.	0.14%	4,359,016	$231M	added0%	0.00 pp	27 q
GTLBGitLab Inc. Class A	0.14%	7,683,350	$235M	added+5%	+0.02 pp	19 q
SPCXSpace Exploration Technologies Corp. Class A	0.14%	1,407,762	$241M	new	+0.14 pp	new
TERTeradyne, Inc.	0.14%	485,840	$235M	trimmed−12%	+0.01 pp	27 q
UPSUnited Parcel Service, Inc. Class B	0.14%	2,146,131	$231M	held	—	27 q
BABoeing Company	0.13%	1,039,910	$225M	added+31%	+0.01 pp	11 q
PGRProgressive Corporation	0.13%	1,003,280	$219M	trimmed−0%	−0.03 pp	27 q
SYKStryker Corporation	0.13%	677,872	$213M	added+29%	−0.01 pp	27 q
AMEAmetek, Inc.	0.12%	823,154	$199M	held	—	26 q
EOGEOG Resources, Inc.	0.12%	1,581,562	$205M	trimmed−1%	−0.06 pp	27 q
EBAYeBay Inc	0.12%	1,874,240	$209M	trimmed−0%	−0.01 pp	27 q
KEYSKeysight Technologies, Inc.	0.12%	588,975	$206M	trimmed−0%	−0.01 pp	27 q
OKTAOkta, Inc. Class A	0.12%	1,516,091	$207M	trimmed−11%	+0.01 pp	26 q
TRMBTrimble Inc.	0.12%	3,915,691	$200M	trimmed−0%	−0.08 pp	27 q
UNPUnion Pacific Corp.	0.12%	775,740	$211M	trimmed−6%	−0.04 pp	27 q
MOG.AMoog Inc.	0.11%	428,460	$182M	trimmed−1%	+0.01 pp	12 q
OLEDUniversal Display Corp	0.11%	2,195,818	$190M	added0%	−0.05 pp	27 q
FLUTFlutter Entertainment plc	0.11%	1,785,790	$182M	trimmed−0%	−0.03 pp	6 q
STXSeagate Technology Holdings PLC (Ireland)	0.11%	188,777	$182M	trimmed−18%	+0.04 pp	15 q
AAgilent Technologies Inc.	0.10%	1,327,396	$176M	trimmed−1%	−0.02 pp	27 q
ALKAlaska Air Group, Inc.	0.10%	3,227,329	$168M	trimmed−1%	+0.01 pp	27 q
BACBank of America Corporation	0.10%	3,083,132	$176M	added+12%	−0.01 pp	27 q
DELLDell Technologies Inc.	0.10%	381,700	$165M	added+2%	+0.05 pp	27 q
XNCRXencor, Inc.	0.10%	10,181,322	$164M	trimmed−2%	0.00 pp	27 q
XPEVXPeng Inc.	0.10%	12,515,757	$166M	trimmed−2%	−0.07 pp	24 q
SPOTSpotify Technology S.A.	0.10%	360,106	$165M	added+8%	−0.03 pp	7 q
CIENCiena Corporation	0.09%	308,050	$151M	trimmed−30%	−0.04 pp	25 q
GRALGRAIL, Inc.	0.09%	2,180,106	$149M	added+18%	+0.01 pp	9 q
JBHTJB Hunt Transport Services Inc	0.09%	517,710	$150M	held	—	16 q
NTNXNutanix, Inc. Class A	0.09%	2,917,643	$149M	added+3%	+0.01 pp	27 q
OTISOtis Worldwide Corporation	0.09%	2,055,440	$147M	trimmed−2%	−0.04 pp	25 q
PMPhilip Morris International Inc.	0.09%	824,000	$149M	trimmed−5%	−0.02 pp	27 q
QQnity Electronics, Inc.	0.09%	906,109	$148M	trimmed−7%	0.00 pp	3 q
CCLCarnival Corporation Ltd.	0.09%	5,363,703	$153M	held	—	27 q
EVREvercore Inc.	0.08%	376,150	$128M	added+6%	0.00 pp	19 q
GDGeneral Dynamics Corporation	0.08%	388,450	$138M	trimmed−0%	−0.03 pp	27 q
INDIindie Semiconductor, Inc. Class A	0.08%	31,623,647	$142M	added+2%	0.00 pp	20 q
LYVLive Nation Entertainment Inc.	0.08%	727,220	$133M	trimmed−0%	−0.01 pp	24 q
WHRWhirlpool Corp.	0.08%	3,597,189	$142M	trimmed−4%	−0.08 pp	27 q
ALKSAlkermes Inc. plc	0.08%	2,528,680	$132M	trimmed−0%	+0.01 pp	27 q
ADSKAutodesk Inc	0.07%	600,100	$117M	trimmed−1%	−0.04 pp	27 q
ACLSAxcelis Technologies Inc	0.07%	610,451	$116M	trimmed−7%	+0.02 pp	27 q
IMCRImmunocore Holdings plc	0.07%	3,638,241	$116M	trimmed−1%	−0.02 pp	10 q
ROKRockwell Automation, Inc.	0.07%	254,360	$126M	trimmed−0%	0.00 pp	27 q
TXTTextron, Inc.	0.07%	1,217,960	$112M	trimmed−2%	−0.02 pp	27 q
WSCWillScot Holdings Corporation Class A	0.07%	4,253,900	$123M	trimmed−1%	+0.01 pp	25 q
XPOXPO, Inc.	0.07%	568,334	$117M	held	—	22 q
CCJCameco Corporation	0.06%	925,170	$94M	trimmed−0%	−0.02 pp	27 q
CTVACorteva, Inc.	0.06%	1,164,210	$99M	trimmed−2%	−0.02 pp	27 q
IMNMImmunome, Inc.	0.06%	4,581,431	$97M	trimmed−4%	−0.02 pp	10 q
MARMarriott International Class A	0.06%	251,300	$93M	trimmed−3%	−0.01 pp	27 q
RVTYRevvity, Inc.	0.06%	853,150	$95M	trimmed−2%	0.00 pp	27 q
ZMZoom Communications, Inc. Class A	0.06%	1,246,150	$108M	trimmed−0%	−0.02 pp	26 q
NVTnVent Electric plc	0.06%	573,850	$97M	held	—	27 q
APPApplovin Corporation Class A	0.05%	175,325	$90M	added+1%	0.00 pp	7 q
ARMArm Holdings plc	0.05%	233,680	$83M	trimmed−0%	+0.02 pp	12 q
CSXCSX Corporation	0.05%	1,634,900	$78M	held	—	27 q
CAVACAVA Group, Inc.	0.05%	1,184,450	$93M	trimmed−6%	−0.03 pp	5 q
ELFe.l.f. Beauty, Inc.	0.05%	1,056,780	$78M	added+51%	+0.02 pp	8 q
MSMorgan Stanley	0.05%	431,988	$90M	trimmed−0%	−0.01 pp	23 q
NBIXNeurocrine Biosciences Inc	0.05%	491,340	$83M	trimmed−1%	0.00 pp	15 q
PSNParsons Corporation	0.05%	1,712,100	$90M	added+68%	+0.01 pp	6 q
WELLWelltower Inc.	0.05%	385,509	$87M	added0%	−0.01 pp	6 q
FTITechnipFMC plc	0.05%	1,359,870	$90M	trimmed−1%	−0.03 pp	27 q
VIKViking Holdings Ltd	0.05%	727,573	$76M	trimmed−7%	0.00 pp	6 q
ALCAlcon Inc.	0.05%	1,340,866	$90M	held	—	27 q
ABTAbbott Laboratories	0.04%	761,900	$69M	trimmed−0%	−0.02 pp	27 q
AURAurora Innovation, Inc. Class A	0.04%	9,398,280	$64M	trimmed−4%	+0.01 pp	19 q
AXONAxon Enterprise, Inc.	0.04%	133,820	$75M	added×11.2	+0.04 pp	27 q
BJBJs Wholesale Club Holdings, Inc.	0.04%	807,749	$70M	trimmed−4%	−0.03 pp	27 q
BBIOBridgeBio Pharma, Inc.	0.04%	1,015,980	$76M	added+79%	+0.01 pp	22 q
COFCapital One Financial	0.04%	377,440	$76M	trimmed−1%	−0.01 pp	5 q
CVNACarvana Co.	0.04%	987,625	$65M	held	—	7 q
CRLCharles River Laboratories International, Inc.	0.04%	266,870	$61M	trimmed−0%	0.00 pp	27 q
CRWDCrowdStrike Holdings, Inc. Class A	0.04%	86,060	$66M	trimmed−2%	+0.01 pp	27 q
DVNDevon Energy Corporation	0.04%	1,571,690	$65M	new	+0.04 pp	new
DOWDow Inc.	0.04%	2,251,432	$62M	trimmed−48%	−0.10 pp	27 q
DDDuPont de Nemours, Inc.	0.04%	521,493	$71M	trimmed−22%	−0.03 pp	27 q
KNXKnight-Swift Transportation Holdings Inc. Class A	0.04%	852,677	$66M	trimmed−2%	0.00 pp	15 q
LYFTLyft, Inc. Class A	0.04%	4,096,320	$60M	trimmed−3%	0.00 pp	27 q
VNOMViper Energy, Inc. Class A	0.04%	1,433,200	$61M	added+23%	0.00 pp	3 q
NKENike, Inc.	0.04%	1,580,330	$65M	added0%	−0.03 pp	6 q
OLLIOllie's Bargain Outlet Holdings, Inc.	0.04%	875,890	$67M	added+70%	0.00 pp	20 q
RTXRTX Corporation	0.04%	375,962	$71M	held	—	27 q
TMUST-Mobile US, Inc.	0.04%	437,090	$73M	trimmed−0%	−0.03 pp	27 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.04%	144,121	$60M	trimmed−23%	0.00 pp	25 q
WMWaste Management, Inc.	0.04%	299,000	$67M	added+8%	−0.01 pp	2 q
CPRICapri Holdings Limited	0.04%	3,224,635	$60M	trimmed−7%	−0.01 pp	27 q
BRKRBruker Corporation	0.03%	883,100	$53M	added+3%	+0.01 pp	3 q
DEDeere & Company	0.03%	72,670	$46M	held	—	27 q
DSGXDescartes Systems Group Inc	0.03%	728,775	$50M	trimmed−38%	−0.04 pp	27 q
FHNFirst Horizon Corporation	0.03%	2,227,100	$57M	new	+0.03 pp	new
HONAHoneywell Aerospace Inc.	0.03%	244,100	$54M	new	+0.03 pp	new
HONHoneywell International, Inc.	0.03%	244,100	$55M	trimmed−50%	−0.06 pp	4 q
OSISOSI Systems Inc	0.03%	258,180	$56M	added+6%	−0.02 pp	27 q
PRMPerimeter Solutions, Inc.	0.03%	1,496,851	$53M	trimmed−8%	0.00 pp	7 q
PINSPinterest, Inc. Class A	0.03%	2,477,400	$52M	held	—	27 q
QCOMQualcomm Inc	0.03%	239,250	$44M	trimmed−66%	−0.04 pp	27 q
RGENRepligen Corp	0.03%	323,268	$44M	added+38%	+0.01 pp	21 q
RYAAYRyanair Holdings plc	0.03%	910,672	$59M	trimmed−0%	−0.01 pp	27 q
SYNASynaptics Inc	0.03%	456,000	$57M	added+2%	+0.01 pp	3 q
ALLOAllogene Therapeutics, Inc.	0.02%	13,123,440	$27M	added+57%	0.00 pp	23 q
ARLOArlo Technologies, Inc.	0.02%	1,942,330	$26M	trimmed−16%	−0.01 pp	27 q
BBBlackBerry Limited	0.02%	2,874,476	$36M	held	—	27 q
CASYCasey's General Stores Inc	0.02%	33,415	$27M	trimmed−27%	−0.01 pp	9 q
EXEExpand Energy Corporation	0.02%	325,447	$30M	trimmed−2%	−0.01 pp	7 q
XOMExxon Mobil Corp	0.02%	249,726	$34M	held	—	9 q
FLYWFlywire Corporation Voting	0.02%	1,445,700	$25M	trimmed−2%	+0.01 pp	17 q
GFLGFL Environmental Inc. Subordinate Voting Shares	0.02%	911,000	$34M	added+36%	0.00 pp	15 q
GFFGriffon Corp	0.02%	411,947	$40M	trimmed−1%	0.00 pp	13 q
THGThe Hanover Insurance Group, Inc.	0.02%	176,740	$38M	added0%	0.00 pp	3 q
IEIvanhoe Electric Inc.	0.02%	3,428,284	$33M	added+6%	−0.01 pp	12 q
KEYKeyCorp	0.02%	1,699,430	$39M	held	—	12 q
KEXKirby Corporation	0.02%	253,353	$34M	trimmed−4%	−0.01 pp	23 q
LHXL3Harris Technologies, Inc.	0.02%	143,000	$42M	held	—	2 q
MBLYMobileye Global Inc. Class A	0.02%	3,417,080	$33M	added+7%	0.00 pp	15 q
NWLNewell Brands Inc.	0.02%	5,863,700	$36M	trimmed−22%	0.00 pp	27 q
PVLAPalvella Therapeutics, Inc.	0.02%	256,182	$39M	added+31%	0.00 pp	2 q
CRMSalesforce, Inc.	0.02%	259,450	$41M	held	—	27 q
SEPNSepterna, Inc.	0.02%	1,167,382	$39M	added+11%	0.00 pp	3 q
TWTradeweb Markets Inc. Class A	0.02%	327,862	$33M	trimmed−0%	−0.01 pp	27 q
UBERUber Technologies, Inc.	0.02%	414,600	$30M	trimmed−19%	−0.01 pp	25 q
ULTAUlta Beauty, Inc.	0.02%	61,000	$28M	trimmed−0%	−0.01 pp	27 q
XELXcel Energy, Inc.	0.02%	496,300	$40M	added×7.4	+0.02 pp	2 q
NCLHNorwegian Cruise Line Holdings Ltd.	0.02%	1,548,464	$33M	trimmed−3%	0.00 pp	27 q
TROXTronox Limited Cl A	0.02%	5,468,402	$34M	trimmed−0%	−0.02 pp	12 q
BIRKBirkenstock Holding plc	0.02%	910,100	$39M	added+52%	0.00 pp	3 q
WVEWave Life Sciences Ltd.	0.02%	5,354,622	$31M	added+11%	−0.01 pp	27 q
MOAltria Group, Inc.	0.01%	261,000	$19M	trimmed−10%	−0.01 pp	27 q
BMNRBitMine Immersion Technologies, Inc.	0.01%	910,100	$12M	new	+0.01 pp	new
CSGPCoStar Group Inc	0.01%	821,600	$23M	added+2%	−0.02 pp	6 q
DXCMDexCom, Inc.	0.01%	192,000	$13M	new	+0.01 pp	new
DKSDick's Sporting Goods, Inc.	0.01%	64,150	$15M	added+6%	0.00 pp	5 q
DASHDoorDash, Inc. Class A	0.01%	84,710	$16M	held	—	23 q
FRVOFervo Energy Company Class A	0.01%	475,800	$14M	new	+0.01 pp	new
FCXFreeport-McMoran Inc.	0.01%	316,470	$20M	trimmed−3%	−0.01 pp	23 q
ITGartner, Inc.	0.01%	117,400	$15M	held	—	11 q
IMAXImax Corp	0.01%	273,500	$11M	trimmed−49%	−0.01 pp	27 q
PODDInsulet Corporation	0.01%	99,310	$15M	trimmed−1%	−0.01 pp	27 q
JBLUJetBlue Airways Corp	0.01%	2,364,600	$14M	trimmed−1%	0.00 pp	27 q
MXLMaxLinear, Inc.	0.01%	164,380	$21M	trimmed−6%	+0.01 pp	27 q
MCDMcDonald's Corporation	0.01%	33,930	$9M	held	—	27 q
MCKMcKesson Corporation	0.01%	19,990	$15M	new	+0.01 pp	new
MUSAMurphy USA Inc.	0.01%	19,111	$10M	trimmed−4%	0.00 pp	6 q
NMIHNMI Holdings Inc.	0.01%	257,250	$11M	trimmed−4%	0.00 pp	27 q
NKTRNektar Therapeutics	0.01%	272,850	$19M	trimmed−2%	−0.01 pp	27 q
LASRnLIGHT, Inc.	0.01%	225,539	$16M	trimmed−1%	0.00 pp	27 q
PCGPG&E Corporation	0.01%	766,700	$13M	held	—	5 q
RXORXO, Inc.	0.01%	565,546	$16M	trimmed−6%	0.00 pp	15 q
RNGRingcentral, Inc.	0.01%	264,800	$10M	trimmed−2%	0.00 pp	26 q
SAIASaia, Inc.	0.01%	54,420	$23M	held	—	17 q
SAPSap SE	0.01%	82,500	$13M	added×6.3	+0.01 pp	3 q
SLBSLB Limited	0.01%	329,280	$15M	held	—	27 q
TTWOTake-Two Interactive Software Inc	0.01%	93,929	$23M	held	—	7 q
TTDThe Trade Desk, Inc.	0.01%	732,455	$13M	trimmed−41%	−0.01 pp	14 q
TOSTToast, Inc.	0.01%	674,300	$19M	added+42%	0.00 pp	4 q
TSNTyson Foods, Inc.	0.01%	415,000	$24M	held	—	27 q
VSECVSE Corp	0.01%	52,500	$12M	trimmed−29%	0.00 pp	8 q
WMTWalmart Inc.	0.01%	144,600	$16M	trimmed−2%	0.00 pp	7 q
WATWaters Corp	0.01%	38,647	$14M	trimmed−1%	0.00 pp	23 q
CRDOCredo Technology Group Holding Ltd	0.01%	55,800	$15M	trimmed−12%	+0.01 pp	17 q
SNSharkNinja, Inc.	0.01%	144,700	$22M	added+1%	0.00 pp	5 q
RIGTransocean LTD.	0.01%	2,493,290	$12M	trimmed−3%	0.00 pp	27 q
ALGTAllegiant Travel Company	0.00%	33,450	$4M	added+2%	0.00 pp	27 q
ANETArista Networks	0.00%	16,000	$3M	held	—	27 q
ARRYArray Technologies, Inc.	0.00%	313,300	$2M	held	—	17 q
BBWIBath & Body Works, Inc.	0.00%	307,380	$7M	trimmed−2%	0.00 pp	27 q
BRBRBellRing Brands, Inc.	0.00%	485,800	$6M	trimmed−26%	−0.01 pp	8 q
BOOTBoot Barn Holdings, Inc.	0.00%	45,160	$7M	trimmed−1%	−0.01 pp	27 q
LUCKLucky Strike Entertainment Corporation	0.00%	324,800	$2M	held	—	12 q
EATBrinker International, Inc.	0.00%	28,200	$5M	held	—	21 q
CBOECboe Global Markets, Inc.	0.00%	5,100	$1M	held	—	27 q
CERSCerus Corp	0.00%	781,800	$2M	trimmed−1%	0.00 pp	27 q
KOCoca-Cola Company	0.00%	35,200	$3M	held	—	5 q
CMCSAComcast Corp	0.00%	44,800	$1M	held	—	27 q
VLRSControladora Vuela Compania De Aviacion, S.a.b. De C.v.	0.00%	41,000	$384,170	held	—	27 q
DOCUDocuSign, Inc.	0.00%	85,000	$4M	trimmed−29%	0.00 pp	10 q
FMCFMC Corporation	0.00%	695,192	$8M	trimmed−1%	−0.01 pp	6 q
FISFidelity National Information Services, Inc.	0.00%	100,910	$4M	trimmed−54%	−0.01 pp	22 q
LABStandard BioTools Inc.	0.00%	153,374	$126,181	held	—	27 q
ULCCFrontier Group Holdings, Inc.	0.00%	494,900	$4M	held	—	21 q
GXOGXO Logistics, Inc.	0.00%	125,400	$6M	trimmed−5%	−0.01 pp	20 q
GLXYGalaxy Digital Inc. Class A	0.00%	273,400	$7M	trimmed−6%	0.00 pp	5 q
ROCKGibraltar Industries, Inc.	0.00%	95,600	$4M	held	—	27 q
GMEDGlobus Medical Inc	0.00%	28,725	$2M	trimmed−2%	0.00 pp	12 q
GSGoldman Sachs Group Inc.	0.00%	1,130	$1M	trimmed−99%	−0.10 pp	23 q
GEF.BGreif, Inc. Class B	0.00%	15,000	$1M	held	—	27 q
GRWGGrow Generation Corp	0.00%	377,300	$558,404	held	—	18 q
HUMHumana Inc.	0.00%	9,250	$4M	trimmed−91%	−0.01 pp	21 q
ITTITT Inc.	0.00%	9,000	$2M	held	—	2 q
IBTAIbotta, Inc.	0.00%	41,735	$1M	trimmed−0%	0.00 pp	9 q
NGVTIngevity Corporation	0.00%	69,000	$5M	held	—	27 q
IQVIQVIA Holdings Inc.	0.00%	36,962	$7M	trimmed−41%	−0.01 pp	26 q
LPLALPL Financial Holdings Inc.	0.00%	16,000	$5M	held	—	26 q
LENZLENZ Therapeutics, Inc.	0.00%	472,200	$3M	held	—	3 q
MQMarqeta, Inc. Class A	0.00%	59,600	$241,976	trimmed−64%	0.00 pp	20 q
MRKMerck & Co., Inc.	0.00%	35,700	$5M	trimmed−1%	0.00 pp	27 q
NFENew Fortress Energy Inc. Class A	0.00%	91,100	$33,078	trimmed−83%	0.00 pp	24 q
PENPenumbra, Inc.	0.00%	26,060	$8M	trimmed−1%	−0.01 pp	27 q
LUNGPulmonx Corporation	0.00%	4,612,331	$6M	trimmed−2%	0.00 pp	23 q
RMBSRambus Inc	0.00%	47,500	$6M	held	—	27 q
QSRRestaurant Brands International Inc.	0.00%	37,600	$3M	held	—	27 q
RIVNRivian Automotive, Inc. Class A	0.00%	210,260	$4M	trimmed−0%	0.00 pp	19 q
SNDKSandisk Corporation	0.00%	400	$909,492	held	—	2 q
SNYSanofi	0.00%	97,168	$4M	held	—	27 q
SVVSavers Value Village, Inc.	0.00%	748,225	$8M	added+8%	0.00 pp	8 q
SNAPSnap Inc.	0.00%	18,550	$82,362	held	—	25 q
TPRTapestry, Inc.	0.00%	19,300	$3M	trimmed−12%	0.00 pp	11 q
TMHCTaylor Morrison Home Corporation	0.00%	84,214	$6M	added+47%	0.00 pp	4 q
UUnity Software Inc.	0.00%	152,710	$4M	trimmed−8%	0.00 pp	24 q
VLOValero Energy Corporation	0.00%	26,000	$7M	held	—	23 q
VVVValvoline Inc.	0.00%	87,030	$3M	held	—	6 q
WMGWarner Music Group Corp. Class A	0.00%	22,230	$601,767	added+29%	0.00 pp	2 q
WEXWEX Inc.	0.00%	54,660	$8M	trimmed−53%	−0.01 pp	22 q
WINGWingstop Inc	0.00%	36,100	$6M	new	0.00 pp	new
ZNTLZentalis Pharmaceuticals, Inc.	0.00%	957,420	$5M	held	—	25 q
GTMZoomInfo Technologies Inc	0.00%	1,183,552	$3M	trimmed−63%	−0.02 pp	25 q
AMBAAmbarella, Inc.	0.00%	19,100	$2M	trimmed−2%	0.00 pp	24 q
CTRACoterra Energy Inc.	—	−2,289,750	—	exited	−0.06 pp	—
AM6Amicus Therapeutics Inc	—	−585,400	—	exited	−0.01 pp	—
FITBFifth Third Bancorp	—	−196,260	—	exited	−0.01 pp	—
HCATHealth Catalyst, Inc	—	−340,418	—	exited	0.00 pp	—
OSOneStream, Inc. Class A	—	−19,500	—	exited	0.00 pp	—
MDTMedtronic plc	—	−2,440	—	exited	0.00 pp	—