Schedule of Investments
PRIMECAP Odyssey Aggressive Growth Fund
July 31, 2023 (Unaudited)
Shares			Value
		COMMON STOCKS - 97.3%
		Communication Services - 6.6%
	720,050	Alphabet, Inc. - Class A (a)	$	95,565,036
	601,840	Alphabet, Inc. - Class C (a)		80,110,922
	925,020	Baidu, Inc. - ADR (a)		144,293,870
	96,000	Electronic Arts, Inc.		13,089,600
	631,000	IMAX Corp. (a)		11,616,710
	72,360	Live Nation Entertainment, Inc. (a)		6,349,590
	520,578	Madison Square Garden Entertainment Corp. - Class A (a)		18,136,938
	30,300	Meta Platforms, Inc. - Class A (a)		9,653,580
	16,900	Netflix, Inc. (a)		7,418,593
	1,613,100	Pinterest, Inc. - Class A (a)		46,763,769
	24,100	Roblox Corp. - Class A (a)		945,925
	102,000	Snap, Inc. - Class A (a)		1,158,720
	570,578	Sphere Entertainment Corp. - Class A (a)		24,221,036
	130,150	T-Mobile US, Inc. (a)		17,930,766
	5,512,010	WildBrain Ltd. - CAD (a)		7,189,669
	138,469	ZoomInfo Technologies, Inc. (a)		3,540,652
				487,985,376
		Consumer Discretionary - 13.5%
	1,157,400	Alibaba Group Holding Ltd. - ADR (a)		118,239,984
	161,500	Amazon.com, Inc. (a)		21,589,320
	67,100	Boot Barn Holdings, Inc. (a)		6,300,690
	100,830	Burlington Stores, Inc. (a)		17,909,425
	220,637	Capri Holdings Ltd. (a)		8,143,712
	766,300	CarMax, Inc. (a)		63,304,043
	8,000	Darden Restaurants, Inc.		1,351,360
	1,100	Deckers Outdoor Corp. (a)		598,059
	1,750	Duolingo, Inc. (a)		271,582
	239,700	eBay, Inc.		10,669,047
	3,966,609	Entain PLC - GBP		70,555,050
	2,200	Etsy, Inc. (a)		223,630
	3,000	Five Below, Inc. (a)		625,020
	22,700	Flutter Entertainment PLC - GBP (a)		4,518,384
	59,300	GAN Ltd. (a)		110,891
	99,430	Gildan Activewear, Inc.		3,092,273
	846,100	GrowGeneration Corp. (a)		3,367,478
	757,895	iRobot Corp. (a)		30,315,800
	331,700	Mobileye Global, Inc. - Class A (a)		12,664,306
	1,048,165	Norwegian Cruise Line Holdings Ltd. (a)		23,133,002
	148,000	Ollie's Bargain Outlet Holdings, Inc. (a)		10,786,240
	81,200	Restaurant Brands International, Inc.		6,216,672
	58,660	Rivian Automotive, Inc. - Class A (a)		1,621,362
	792,276	Royal Caribbean Cruises Ltd. (a)		86,445,234
	2,270,250	Sony Group Corp. - ADR		212,495,400
	743,050	Tesla, Inc. (a)		198,713,862
	24,620	Ulta Beauty, Inc. (a)		10,950,976
	108,400	Victoria's Secret & Co. (a)		2,221,116
	2,940,350	XPeng, Inc. - ADR (a)		61,512,122
				987,946,040
		Consumer Staples - 0.0%
	2,000	Calavo Growers, Inc.		75,460
	9,100	Dollar General Corp.		1,536,626
				1,612,086
		Energy - 1.6%
	544,350	Coterra Energy, Inc.		14,991,399
	131,700	EOG Resources, Inc.		17,454,201
	427,300	New Fortress Energy, Inc.		12,199,415
	8,197,982	Transocean Ltd. (a)		72,142,242
				116,787,257
		Financials - 4.8%
	192,700	AssetMark Financial Holdings, Inc. (a)		5,761,730
	164,771	CME Group, Inc. - Class A		32,782,838
	238,603	Discover Financial Services		25,184,547
	17,000	Flywire Corp. (a)		580,380
	116,700	Galaxy Digital Holdings Ltd. - CAD (a)		572,592
	31,500	LPL Financial Holdings, Inc.		7,224,840
	523,620	MarketAxess Holdings, Inc.		140,968,976
	200,000	Marqeta, Inc. - Class A (a)		1,116,000
	600,342	Morgan Stanley		54,967,314
	582,800	NMI Holdings, Inc. - Class A (a)		15,566,588
	110,500	Progressive Corp. (The)		13,920,790
	504,000	Tradeweb Markets, Inc. - Class A		41,222,160
	64,250	WEX, Inc. (a)		12,165,738
				352,034,493
		Health Care - 30.0%
	6,000	10x Genomics, Inc. - Class A (a)		377,880
	140,000	Accuray, Inc. (a)		596,400
	104,230	Adaptive Biotechnologies Corp. (a)		879,701
	1,124,100	Alkermes PLC (a)		32,913,648
	2,164,571	Allogene Therapeutics, Inc. (a)		10,736,272
	1,094,200	Amicus Therapeutics, Inc. (a)		14,903,004
	197,100	Amylyx Pharmaceuticals, Inc. (a)		4,621,995
	328,100	Arbutus Biopharma Corp. (a)		711,977
	706,447	BeiGene Ltd. - ADR (a)		151,335,076
	870,039	Biogen, Inc. (a)		235,075,837
	1,939,550	BioMarin Pharmaceutical, Inc. (a)		170,544,632
	1,369,622	BioNTech SE - ADR (a)		149,110,747
	490,000	Boston Scientific Corp. (a)		25,406,500
	329,700	Bridgebio Pharma, Inc. (a)		11,542,797
	8,613,000	Cerus Corp. (a)		26,441,910
	14,000	Charles River Laboratories International, Inc. (a)		2,933,560
	630,892	Elanco Animal Health, Inc. (a)		7,614,866
	660,694	Eli Lilly & Co.		300,318,458
	437,600	Exact Sciences Corp. (a)		42,683,504
	3,774,491	FibroGen, Inc. (a)		7,775,451
	558,830	Galapagos NV - ADR (a)		23,666,451
	548,700	Glaukos Corp. (a)		42,326,718
	25,490	Guardant Health, Inc. (a)		994,620
	590,696	Health Catalyst, Inc. (a)		8,287,465
	11,310	Illumina, Inc. (a)		2,173,217
	183,200	ImmunoGen, Inc. (a)		3,264,624
	373,456	Insulet Corp. (a)		103,353,948
	1,049,960	LivaNova PLC (a)		61,370,162
	65,000	Mereo Biopharma Group PLC - ADR (a)		86,450
	4,250,420	Nektar Therapeutics (a)		2,277,375
	60,600	NuVasive, Inc. (a)		2,497,326
	594,920	OraSure Technologies, Inc. (a)		2,808,022
	19,220	Penumbra, Inc. (a)		5,830,579
	1,201,216	PolyPeptide Group AG - CHF (a)		28,237,977
	3,718,491	Pulmonx Corp. (a) (b)		52,058,874
	193,800	QIAGEN N.V. - EUR (a)		9,088,037
	20,886	Repligen Corp. (a)		3,583,202
	5,393,780	Rhythm Pharmaceuticals, Inc. (a) (b)		96,225,035
	118,800	Roche Holding AG - CHF		36,864,033
	78,300	Sage Therapeutics, Inc. (a)		2,715,444
	1,485,215	Seagen, Inc. (a)		284,834,533
	218,930	Shockwave Medical, Inc. (a)		57,053,158
	2,317,269	Standard BioTools, Inc. (a)		5,677,309
	3,323,370	Wave Life Sciences Ltd. (a)		14,523,127
	5,540,757	Xencor, Inc. (a) (b)		134,584,988
	807,080	Zentalis Pharmaceuticals, Inc. (a)		21,557,107
				2,202,463,996
		Industrials - 11.7%
	1,774,136	AECOM		154,349,832
	406,600	Alaska Air Group, Inc. (a)		19,772,958
	25,100	Allegiant Travel Co. (a)		3,104,870
	4,197,300	American Airlines Group, Inc. (a)		70,304,775
	695,900	Array Technologies, Inc. (a)		13,256,895
	112,500	Axon Enterprise, Inc. (a)		20,917,125
	49,600	Bloom Energy Corp. - Class A (a)		885,856
	41,000	Controladora Vuela Compania de Aviacion, S.A.B. de C.V. - ADR (a)		491,180
	202,400	Curtiss-Wright Corp.		38,731,264
	2,230,397	Delta Air Lines, Inc.		103,178,165
	31,400	FedEx Corp.		8,476,430
	70,600	Frontier Group Holdings, Inc. (a)		656,580
	304,400	GFL Environmental, Inc.		10,392,216
	125,500	Gibraltar Industries, Inc. (a)		8,116,085
	139,900	Griffon Corp.		5,836,628
	150,700	Hawaiian Holdings, Inc. (a)		1,746,613
	296,200	Hertz Global Holdings, Inc. (a)		4,990,970
	915,300	Jacobs Solutions, Inc.		114,787,773
	2,484,900	JetBlue Airways Corp. (a)		19,307,673
	2,583,100	Li-Cycle Holdings Corp. (a)		15,576,093
	560,000	Lyft, Inc. - Class A (a)		7,117,600
	156,200	Masonite International Corp. (a)		16,330,710
	389,400	NN, Inc. (a)		1,164,306
	2,600	Old Dominion Freight Line, Inc.		1,090,674
	37,400	RXO, Inc. (a)		824,670
	15,800	Ryanair Holdings PLC - ADR (a)		1,619,974
	1,711,000	Southwest Airlines Co.		58,447,760
	196,900	Spirit Airlines, Inc.		3,603,270
	46,815	Sun Country Airlines Holdings, Inc. (a)		1,009,332
	33,800	TransDigm Group, Inc.		30,410,536
	326,300	Uber Technologies, Inc. (a)		16,138,798
	1,898,340	United Airlines Holdings, Inc. (a)		103,098,845
	26,800	WillScot Mobile Mini Holdings Corp. (a)		1,285,060
	40,000	XPO, Inc. (a)		2,769,600
				859,791,116
		Information Technology - 28.2%
	155,300	Adobe, Inc. (a)		84,820,201
	33,100	Ambarella, Inc. (a)		2,761,202
	87,400	Applied Materials, Inc.		13,248,966
	2,736,060	Arlo Technologies, Inc. (a)		31,081,642
	36,500	ASML Holding N.V. - ADR		26,148,965
	3,183,700	Aurora Innovation, Inc. - Class A (a)		10,442,536
	37,700	Autodesk, Inc. (a)		7,992,023
	998,463	Axcelis Technologies, Inc. (a)		200,171,862
	8,995,866	BlackBerry Ltd. (a)		45,878,917
	649,200	Credo Technology Group Holding Ltd. (a)		11,016,924
	123,599	CrowdStrike Holdings, Inc. - Class A (a)		19,981,014
	59,450	CyberArk Software Ltd. (a)		9,869,294
	85,140	Dell Technologies, Inc. - Class C		4,505,609
	302,741	Descartes Systems Group, Inc. (The) (a)		23,574,442
	200	DocuSign, Inc. (a)		10,764
	6,160,600	Flex Ltd. (a)		168,554,016
	854,655	FormFactor, Inc. (a)		31,758,980
	108,500	Freshworks, Inc. - Class A (a)		2,024,610
	20,750	GitLab, Inc. - Class A (a)		1,029,822
	574,900	Hewlett Packard Enterprise Co.		9,991,762
	185,900	HP, Inc.		6,103,097
	96,250	HubSpot, Inc. (a)		55,877,937
	2,581,300	indie Semiconductor, Inc. - Class A (a)		24,470,724
	101,700	Intuit, Inc.		52,039,890
	650,600	Jabil, Inc.		72,001,902
	85,100	Jamf Holding Corp. (a)		1,848,372
	35,700	Keysight Technologies, Inc. (a)		5,750,556
	195,300	KLA Corp.		100,374,435
	141,900	Marvell Technology, Inc.		9,241,947
	1,636,740	MaxLinear, Inc. (a)		40,378,376
	3,033,100	Micron Technology, Inc.		216,533,009
	16,500	MongoDB, Inc. (a)		6,986,100
	943,367	NetApp, Inc.		73,592,060
	262,901	nLIGHT, Inc. (a)		3,785,774
	1,945,525	Nutanix, Inc. - Class A (a)		58,754,855
	172,500	NVIDIA Corp.		80,607,525
	252,500	Okta, Inc. - Class A (a)		19,407,150
	187,150	OSI Systems, Inc. (a)		22,313,894
	64,350	Palo Alto Networks, Inc. (a)		16,084,926
	289,600	PROS Holdings, Inc. (a)		11,004,800
	332,923	QUALCOMM, Inc.		44,002,433
	185,200	Rapid7, Inc. (a)		8,502,532
	5,000	RingCentral, Inc. - Class A (a)		206,800
	1,715,010	Splunk, Inc. (a)		185,787,033
	1,032,800	Stratasys Ltd. (a)		18,724,664
	107,100	Tenable Holdings, Inc. (a)		5,211,486
	509,500	Trimble, Inc. (a)		27,411,100
	236,733	Unity Software, Inc. (a)		10,851,841
	785,329	Universal Display Corp.		114,563,795
	122,400	VMware, Inc. - Class A (a)		19,293,912
	330,800	Western Digital Corp. (a)		14,078,848
	503,100	Wolfspeed, Inc. (a)		33,154,290
	41,900	Zoom Video Communications, Inc. - Class A (a)		3,073,365
				2,066,882,979
		Materials - 0.8%
	93,200	Albemarle Corp.		19,784,496
	33,800	Bioceres Crop Solutions Corp. (a)		435,682
	34,500	Ingevity Corp. (a)		2,208,690
	2,880,600	Ivanhoe Mines Ltd. - Class A - CAD (a)		30,539,406
	1,235,952	Perimeter Solutions SA (a)		6,871,893
				59,840,167
		Real Estate - 0.1%
	139,600	EPR Properties		6,231,744
	53,600	Safehold, Inc.		1,325,528
				7,557,272
		TOTAL COMMON STOCKS
		(Cost $3,779,468,949)	$	7,142,900,782
		RIGHTS - 0.0%
		Health Care - 0.0%
	349,922	ABIOMED, Inc. - CVR (Issue Date 12/23/22) (a) (c) (d)		356,921
	10,344,756	Epizyme, Inc. - CVR (Issue Date 8/15/22) (a) (c) (d)		206,895
	3,786,300	Mereo BioPharma Group PLC - CVR (Issue Date 4/23/19) (a) (c) (d)		0
				563,816
		TOTAL RIGHTS
		(Cost $0)		563,816
		WARRANTS - 0.0%
		Materials - 0.0%
	364,100	Perimeter Solutions SA (Expiration Date 11/8/24) (a)		45,512
		TOTAL WARRANTS
		(Cost $3,641)		45,512
Shares			Value
		SHORT-TERM INVESTMENTS - 2.7%
	197,032,838	Dreyfus Treasury Securities Cash Management Fund - Institutional Shares - 5.13% (e)	$	197,032,838
		TOTAL SHORT-TERM INVESTMENTS
		(Cost $197,032,838)		197,032,838
		TOTAL INVESTMENTS IN SECURITIES
		(Cost $3,976,505,428) - 100.0%		7,340,542,948
		Liabilities in Excess of Other Assets - (0.0)%		(3,254,579	)
		TOTAL NET ASSETS - 100.0%	$	7,337,288,369

ADR	American Depository Receipt
CAD	Canadian Dollars
CHF	Swiss Francs
CVR	Contingent Value Rights
EUR	Euros
GBP	British Pound Sterling
(a)	Non-Income Producing
(b)	Considered an affiliated company of the fund as the fund owns 5% or more of the outstanding
	voting securities of such company.
(c)	Illiquid security
(d)	Fair-valued security
(e)	Rate quoted is seven-day yield at period end.

The Global Industry Classification Standard (GICS ^®) was developed by and is the exclusive property of MSCI Inc. and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been licensed for use by the fund's administrator.

Security Valuation

Securities traded on a national securities exchange are valued at the last reported sales price at the close of regular trading on each day the exchanges are open for trading. Securities traded on the National Association of Securities Dealers Automated Quotations (“NASDAQ”) are valued at the NASDAQ Official Closing Price, which may not necessarily represent the last sale price. Non-U.S. traded stocks are valued at the last sale price or official closing price in the primary local market where the stock is traded. Securities traded on an exchange for which there have been no sales are valued at the mean between the bid and ask price. Because trading on most non-U.S. exchanges is normally completed before the close of the New York Stock Exchange, the value of securities traded on foreign exchanges can change by the time the Fund calculates its net asset value per share (“NAV”). To address these changes, the Fund may utilize adjustment factors provided by an independent pricing service to systematically value foreign securities at fair value. These adjustment factors are based on statistical analyses of subsequent movement in securities indices, specific security prices, and exchange rates in foreign markets.

Securities for which quotations are not readily available are valued at their respective fair values as determined in good faith by a valuation committee of the Investment Advisor in accordance with procedures approved by the Trust’s Board of Trustees. Pursuant to those procedures, the Board of Trustees has designated the Investment Advisor as the Fund’s valuation designee responsible for determining whether market quotations are readily available and reliable, and making good faith determinations of fair value when appropriate. In determining fair value, the Fund takes into account all relevant factors and available information.  Consequently, the price of a security used by the Fund to calculate its NAV may differ from quoted or published prices for the same security.  Fair value pricing involves subjective judgments, and there is no single standard for determining a security’s fair value.  As a result, different mutual funds could reasonably arrive at a different fair value for the same security. It is possible that the fair value determined for a security is materially different from the value that could be realized upon the sale of that security or from the values that other mutual funds may determine.

Investments in other funds are valued at their respective net asset values as determined by those funds, in accordance with the 1940 Act.

Valuation Measurements

The Fund has adopted fair valuation accounting standards which establish an authoritative definition of fair value and set forth a hierarchy for measuring fair value.  These standards require additional disclosure about the various inputs and valuation techniques used to develop the  measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period.  These standards define fair value as the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.  The fair value hierarchy is organized into three levels based upon the assumptions (referred to as “inputs”) used to value the asset or liability.  These standards state that “observable inputs” reflect the significant assumptions that market participants would use in valuing an asset or liability based on market data obtained from independent sources.   “Unobservable inputs” reflect the Fund’s own assumptions about the inputs market participants would use to value the asset or liability.

Various inputs are used in determining the value of the Fund’s investments, and the lowest level for any significant input determines leveling.  These inputs are summarized in the three broad levels below:

Level 1      – Unadjusted quoted prices in active markets for identical securities to which the Trust has access at the date of measurement.

Level 2      – Other significant observable inputs (including quoted prices for similar or related securities in both active and inactive markets, interest rates, foreign exchange rates, and fair value estimates for foreign securities indices).

Level 3      – Significant unobservable inputs to the extent observable inputs are unavailable (including the Fund’s own assumptions in determining fair value of investments based on the best available information).

The following table provides the fair value measurements of the Fund assets by level within the fair value hierarchy for the Fund as of July 31, 2023. These assets are measured on a recurring basis.

		Quoted prices		Significant
		in active		other		Significant
		markets for		observable		unobservable
		identical assets		inputs		inputs
Fund	Description	(Level 1)		(Level 2)		(Level 3)		Total
Aggressive	Common Stocks(1)	$	7,142,900,782	$	-	$	-	$	7,142,900,782
Growth Fund	Rights(2)		-		-		563,816		563,816
Warrants(3)			45,512		-		-		45,512
Short-Term Investments			197,032,838		-		-		197,032,838
Total Investments in Securities		$	7,339,979,132	$	-	$	563,816	$	7,340,542,948

(1) Refer to the Fund's Schedule of Investments for the breakdown of major categories.
(2) Health Care
(3) Materials
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.
	ABIOMED, Inc. - CVR (Issue Date 12/23/22)
		Aggressive
		Growth Fund
Balance at October 31, 2022		$	-
Purchases (Received)			356,921
Sales (Proceeds)			-
Realized Gain (Loss)			-
Change in Unrealized Appreciation/Depreciation			-
Balance at July 31, 2023		$	356,921
During the period ended July 31, 2023, the Fund determined the fair value of ABIOMED, Inc. (“ABIOMED”) CVR considering available information, including the value of ABIOMED stock prior to the issuance of the CVR. The likelihood of receiving payments pursuant to an agreement will depend on achievement of certain milestones.
	Epizyme, Inc. - CVR (Issue Date 8/15/22)
		Aggressive
		Growth Fund
Balance at October 31, 2022		$	206,895
Purchases (Received)			-
Sales (Proceeds)			-
Realized Gain (Loss)			-
Change in Unrealized Appreciation/Depreciation			-
Balance at July 31, 2023		$	206,895
During the period ended July 31, 2023, the Fund determined the fair value of Epizyme, Inc. (“Epizyme”) CVR considering available information, including the value of Epizyme stock prior to the issuance of the CVR. The likelihood of receiving payments pursuant to an agreement will depend on achievement of certain milestones.

Other Affiliates
Certain of the Funds’ investments are in companies that are considered to be affiliated companies of a Fund because the Fund owns 5% or more of the outstanding voting securities of the company.  With respect to each such investment, refer to each Fund’s respective Schedule of Investments for the information on the sector of each such company, the number of shares of each such company held, and the percentages of net assets represented by such companies held in each sector. Transactions during the period in securities of these companies were as follows:
PRIMECAP Odyssey Aggressive Growth Fund
			Current Period Transactions
Common Stock	Market Value at October 31, 2022		Purchases at Cost		Proceeds from Securities Sold		Dividend Income		Realized Gain (Loss)			Change in Unrealized Gain (Loss)			Market Value at July 31, 2023
Calithera Biosciences, Inc.(1)	$	702,085	$	-	$	85,776	$	-	$	(23,960,408	)	$	23,344,099		$	N/A
Cerus Corp.(1)		33,718,482		-		1,910,810		-		(1,387,540	)		(3,978,222	)		N/A
Nektar Therapeutics(1)		38,735,031		174,426		6,759,489		-		(70,044,310	)		40,171,717			N/A
Pulmonx Corp.		49,234,152		170,119		-		-		-			2,654,603			52,058,874
Rhythm Pharmaceuticals, Inc.		126,267,319		11,140,112		4,503,835		-		(233,114	)		(36,445,447	)		96,225,035
Standard BioTools, Inc.(1)		4,652,896		-		3,625,279		-		(22,324,737	)		26,974,429			N/A
Xencor, Inc.		123,164,076		33,527,917		712,177		-		(334,749	)		(21,060,079	)		134,584,988
Total	$	376,474,041	$	45,012,574	$	17,597,366	$	-	$	(118,284,858	)	$	31,661,100		$	282,868,897
(1) No longer an affiliate as of July 31, 2023.