Quarterly Holdings Report
for
Strategic Advisers® Small-Mid Cap Fund
Offered exclusively to certain clients of Strategic Advisers LLC - not available for sale to the general publicMay 31, 2020
Schedule of Investments May 31, 2020 (Unaudited)
Showing Percentage of Net Assets
| Common Stocks - 85.7% | |||
| Shares | Value | ||
| COMMUNICATION SERVICES - 2.5% | |||
| Diversified Telecommunication Services - 0.5% | |||
| Bandwidth, Inc. (a) | 137,539 | $15,246,198 | |
| CenturyLink, Inc. | 463,300 | 4,554,239 | |
| GCI Liberty, Inc. (a) | 184,215 | 12,745,836 | |
| Vonage Holdings Corp. (a) | 289,830 | 2,791,063 | |
| 35,337,336 | |||
| Entertainment - 0.7% | |||
| Activision Blizzard, Inc. | 55,066 | 3,963,651 | |
| Cinemark Holdings, Inc. | 582,512 | 8,755,155 | |
| Electronic Arts, Inc. (a) | 39,858 | 4,897,751 | |
| Eros International PLC (a)(b) | 1,172,850 | 3,788,306 | |
| Glu Mobile, Inc. (a) | 220,776 | 2,203,344 | |
| Live Nation Entertainment, Inc. (a) | 61,517 | 3,024,176 | |
| Madison Square Garden Entertainment Corp. (a) | 73,799 | 5,847,095 | |
| Nintendo Co. Ltd. ADR | 65,320 | 3,320,869 | |
| Sciplay Corp. (A Shares) | 21,917 | 307,276 | |
| The Madison Square Garden Co. (a) | 44,823 | 7,648,148 | |
| World Wrestling Entertainment, Inc. Class A | 163,160 | 7,549,413 | |
| Zynga, Inc. (a) | 539,043 | 4,932,243 | |
| 56,237,427 | |||
| Interactive Media & Services - 0.8% | |||
| Alphabet, Inc. Class C (a) | 4,508 | 6,441,571 | |
| ANGI Homeservices, Inc. Class A (a)(b) | 569,299 | 6,176,894 | |
| CarGurus, Inc. Class A (a) | 195,594 | 5,081,532 | |
| Cars.com, Inc. (a) | 198,000 | 1,221,660 | |
| Facebook, Inc. Class A (a) | 15,652 | 3,523,109 | |
| IAC/InterActiveCorp (a) | 17,358 | 4,693,082 | |
| Pinterest, Inc. Class A (a) | 1,103,713 | 22,394,337 | |
| QuinStreet, Inc. (a) | 664,932 | 6,742,410 | |
| TripAdvisor, Inc. | 220,549 | 4,252,185 | |
| Twitter, Inc. (a) | 21,835 | 676,230 | |
| Yelp, Inc. (a) | 145,088 | 3,154,213 | |
| YY, Inc. ADR (a) | 20,107 | 1,227,532 | |
| 65,584,755 | |||
| Media - 0.4% | |||
| AMC Networks, Inc. Class A (a) | 83,700 | 2,366,199 | |
| Boston Omaha Corp. (a)(b) | 206,679 | 3,373,001 | |
| Cable One, Inc. | 700 | 1,320,823 | |
| Criteo SA sponsored ADR (a) | 299,432 | 3,069,178 | |
| Entercom Communications Corp. Class A | 862,300 | 1,440,041 | |
| Liberty Media Corp. Liberty Formula One Group Series C (a) | 42,400 | 1,469,160 | |
| National CineMedia, Inc. | 54,214 | 149,089 | |
| Nexstar Broadcasting Group, Inc. Class A | 64,944 | 5,410,485 | |
| Ocean Outdoor Ltd. (a)(c) | 706,524 | 4,415,775 | |
| The New York Times Co. Class A | 40,100 | 1,573,123 | |
| ViacomCBS, Inc. Class B | 232,500 | 4,822,050 | |
| 29,408,924 | |||
| Wireless Telecommunication Services - 0.1% | |||
| Boingo Wireless, Inc. (a) | 600,931 | 8,232,755 | |
| TOTAL COMMUNICATION SERVICES | 194,801,197 | ||
| CONSUMER DISCRETIONARY - 12.1% | |||
| Auto Components - 1.1% | |||
| Autoliv, Inc. | 73,810 | 4,692,840 | |
| BorgWarner, Inc. | 204,800 | 6,584,320 | |
| Cooper Tire & Rubber Co. | 78,500 | 2,019,805 | |
| Cooper-Standard Holding, Inc. (a) | 359,476 | 3,770,903 | |
| Dana, Inc. | 826,342 | 10,444,963 | |
| Dorman Products, Inc. (a) | 28,143 | 1,967,759 | |
| Fox Factory Holding Corp. (a) | 79,348 | 5,721,784 | |
| Gentex Corp. | 433,649 | 11,465,680 | |
| LCI Industries | 147,746 | 14,616,512 | |
| Lear Corp. | 157,809 | 16,735,644 | |
| Standard Motor Products, Inc. | 41,274 | 1,756,209 | |
| The Goodyear Tire & Rubber Co. | 208,800 | 1,588,968 | |
| 81,365,387 | |||
| Automobiles - 0.3% | |||
| Harley-Davidson, Inc. (b) | 147,900 | 3,156,186 | |
| Thor Industries, Inc. | 235,810 | 20,326,822 | |
| 23,483,008 | |||
| Distributors - 1.2% | |||
| LKQ Corp. (a) | 1,141,791 | 31,353,581 | |
| Pool Corp. | 214,236 | 57,633,769 | |
| 88,987,350 | |||
| Diversified Consumer Services - 1.9% | |||
| Adtalem Global Education, Inc. (a) | 87,900 | 2,941,134 | |
| American Public Education, Inc. (a) | 182,803 | 5,745,498 | |
| Bright Horizons Family Solutions, Inc. (a) | 240,297 | 26,884,428 | |
| Chegg, Inc. (a) | 176,998 | 10,811,038 | |
| China Online Education Group sponsored ADR (a) | 14,886 | 385,547 | |
| Collectors Universe, Inc. | 7,033 | 156,414 | |
| Frontdoor, Inc. (a) | 991,025 | 45,240,291 | |
| Grand Canyon Education, Inc. (a) | 128,635 | 12,553,490 | |
| Houghton Mifflin Harcourt Co. (a) | 470,513 | 719,885 | |
| HyreCar, Inc. (a) | 87,500 | 191,625 | |
| K12, Inc. (a) | 521,350 | 12,835,637 | |
| Service Corp. International | 55,700 | 2,196,251 | |
| ServiceMaster Global Holdings, Inc. (a) | 53,600 | 1,763,440 | |
| Strategic Education, Inc. | 135,620 | 23,005,221 | |
| Weight Watchers International, Inc. (a) | 109,578 | 2,618,914 | |
| 148,048,813 | |||
| Hotels, Restaurants & Leisure - 1.5% | |||
| Bloomin' Brands, Inc. | 235,700 | 2,689,337 | |
| Carrols Restaurant Group, Inc. (a) | 135,180 | 579,922 | |
| Chipotle Mexican Grill, Inc. (a) | 4,030 | 4,045,757 | |
| Churchill Downs, Inc. | 27,530 | 3,652,405 | |
| Dominos Pizza Enterprises Ltd. | 128,180 | 5,325,374 | |
| Dunkin' Brands Group, Inc. | 82,610 | 5,276,301 | |
| Eldorado Resorts, Inc. (a)(b) | 4,300 | 152,478 | |
| Extended Stay America, Inc. unit | 330,908 | 3,805,442 | |
| GAN Ltd. | 79,257 | 1,734,936 | |
| Great Canadian Gaming Corp. (a) | 282,723 | 5,665,343 | |
| International Game Technology PLC | 291,686 | 2,458,913 | |
| Jack in the Box, Inc. | 20,499 | 1,373,843 | |
| Papa John's International, Inc. | 133,544 | 10,401,742 | |
| Planet Fitness, Inc. (a) | 360,150 | 23,276,495 | |
| Playa Hotels & Resorts NV (a) | 1,054,482 | 2,752,198 | |
| Six Flags Entertainment Corp. | 60,214 | 1,383,718 | |
| Vail Resorts, Inc. | 61,848 | 12,266,314 | |
| Wendy's Co. | 585,850 | 12,455,171 | |
| Wingstop, Inc. | 59,370 | 7,240,172 | |
| Wyndham Destinations, Inc. | 290,447 | 9,236,215 | |
| 115,772,076 | |||
| Household Durables - 0.8% | |||
| Cavco Industries, Inc. (a) | 8,283 | 1,575,344 | |
| Helen of Troy Ltd. (a) | 24,276 | 4,416,290 | |
| KB Home | 118,820 | 3,930,566 | |
| La-Z-Boy, Inc. | 123,103 | 3,166,209 | |
| M.D.C. Holdings, Inc. | 193,000 | 6,560,070 | |
| NVR, Inc. (a) | 1,328 | 4,278,298 | |
| PulteGroup, Inc. | 420,400 | 14,280,988 | |
| Skyline Champion Corp. (a) | 176,224 | 4,377,404 | |
| Taylor Morrison Home Corp. (a) | 226,269 | 4,373,780 | |
| Tempur Sealy International, Inc. (a) | 124,181 | 8,100,327 | |
| Toll Brothers, Inc. | 106,715 | 3,447,962 | |
| Whirlpool Corp. | 49,600 | 6,042,272 | |
| 64,549,510 | |||
| Internet & Direct Marketing Retail - 0.7% | |||
| Amazon.com, Inc. (a) | 4,007 | 9,786,577 | |
| Chewy, Inc. (b) | 219,120 | 9,737,693 | |
| Etsy, Inc. (a) | 145,624 | 11,792,632 | |
| Expedia, Inc. | 50,846 | 4,041,240 | |
| Overstock.com, Inc. (a)(b) | 183,152 | 3,364,502 | |
| PetMed Express, Inc. (b) | 19,459 | 702,470 | |
| Shutterstock, Inc. | 310,017 | 11,755,845 | |
| The Rubicon Project, Inc. (a) | 72,342 | 453,584 | |
| Waitr Holdings, Inc. (a) | 1,229,489 | 3,036,838 | |
| 54,671,381 | |||
| Leisure Products - 0.7% | |||
| Brunswick Corp. | 512,719 | 28,204,672 | |
| Callaway Golf Co. (b) | 597,697 | 9,156,718 | |
| Clarus Corp. | 408,727 | 4,291,634 | |
| Hasbro, Inc. | 19,800 | 1,455,498 | |
| Malibu Boats, Inc. Class A (a) | 61,700 | 2,907,921 | |
| Polaris, Inc. | 96,252 | 8,406,650 | |
| Sturm, Ruger & Co., Inc. | 14,523 | 905,364 | |
| YETI Holdings, Inc. (a) | 28,500 | 914,850 | |
| 56,243,307 | |||
| Multiline Retail - 0.2% | |||
| Dillard's, Inc. Class A (b) | 46,400 | 1,392,464 | |
| Dollar General Corp. | 15,313 | 2,932,593 | |
| Dollar Tree, Inc. (a) | 16,937 | 1,657,624 | |
| Kohl's Corp. | 112,400 | 2,160,328 | |
| Ollie's Bargain Outlet Holdings, Inc. (a)(b) | 24,770 | 2,265,217 | |
| Target Corp. | 26,131 | 3,196,605 | |
| 13,604,831 | |||
| Specialty Retail - 2.0% | |||
| Aaron's, Inc. Class A | 195,586 | 7,219,079 | |
| Advance Auto Parts, Inc. | 41,189 | 5,738,451 | |
| America's Car Mart, Inc. (a) | 89,962 | 7,158,276 | |
| American Eagle Outfitters, Inc. | 263,300 | 2,411,828 | |
| AutoZone, Inc. (a) | 1,004 | 1,152,451 | |
| Burlington Stores, Inc. (a) | 78,860 | 16,534,576 | |
| Dick's Sporting Goods, Inc. | 138,229 | 4,984,538 | |
| Five Below, Inc. (a) | 66,269 | 6,935,051 | |
| Floor & Decor Holdings, Inc. Class A (a) | 90,350 | 4,698,200 | |
| Foot Locker, Inc. | 516,070 | 14,295,139 | |
| Group 1 Automotive, Inc. | 43,800 | 2,756,772 | |
| Haverty Furniture Companies, Inc. | 104,300 | 1,804,390 | |
| Lithia Motors, Inc. Class A (sub. vtg.) | 69,355 | 8,363,519 | |
| National Vision Holdings, Inc. (a) | 239,302 | 6,408,508 | |
| Office Depot, Inc. | 995,000 | 2,457,650 | |
| Penske Automotive Group, Inc. | 90,200 | 3,225,552 | |
| RH (a)(b) | 14,825 | 3,215,394 | |
| Sally Beauty Holdings, Inc. (a) | 2,246,715 | 29,297,164 | |
| Sonic Automotive, Inc. Class A (sub. vtg.) | 111,800 | 2,938,104 | |
| Sportsman's Warehouse Holdings, Inc. (a) | 670,269 | 7,486,905 | |
| Ulta Beauty, Inc. (a) | 2,998 | 731,542 | |
| Williams-Sonoma, Inc. | 194,099 | 16,150,978 | |
| Winmark Corp. | 2,142 | 308,170 | |
| 156,272,237 | |||
| Textiles, Apparel & Luxury Goods - 1.7% | |||
| Capri Holdings Ltd. (a) | 230,782 | 3,470,961 | |
| Carter's, Inc. | 276,649 | 23,766,916 | |
| Columbia Sportswear Co. | 27,700 | 2,023,762 | |
| Crocs, Inc. (a) | 313,092 | 8,970,086 | |
| Hanesbrands, Inc. | 2,661,852 | 26,245,861 | |
| Levi Strauss & Co. Class A | 168,982 | 2,279,567 | |
| PVH Corp. | 64,400 | 2,928,268 | |
| Ralph Lauren Corp. | 62,340 | 4,707,293 | |
| Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 1,459,255 | 45,703,867 | |
| Steven Madden Ltd. | 219,134 | 5,154,032 | |
| Unifi, Inc. (a) | 109,713 | 1,506,359 | |
| 126,756,972 | |||
| TOTAL CONSUMER DISCRETIONARY | 929,754,872 | ||
| CONSUMER STAPLES - 3.5% | |||
| Beverages - 0.2% | |||
| Boston Beer Co., Inc. Class A (a) | 9,779 | 5,522,495 | |
| Cott Corp. | 635,565 | 7,645,847 | |
| Molson Coors Beverage Co. Class B | 144,200 | 5,473,832 | |
| National Beverage Corp. (a)(b) | 10,540 | 600,569 | |
| 19,242,743 | |||
| Food & Staples Retailing - 0.9% | |||
| BJ's Wholesale Club Holdings, Inc. (a) | 575,710 | 20,725,560 | |
| Casey's General Stores, Inc. | 72,200 | 11,532,506 | |
| Grocery Outlet Holding Corp. | 147,457 | 5,427,892 | |
| Kroger Co. | 108,259 | 3,531,409 | |
| Performance Food Group Co. (a) | 539,711 | 14,383,298 | |
| SpartanNash Co. | 128,500 | 2,751,185 | |
| U.S. Foods Holding Corp. (a) | 236,450 | 4,525,653 | |
| Weis Markets, Inc. | 54,300 | 3,026,139 | |
| 65,903,642 | |||
| Food Products - 1.7% | |||
| Flowers Foods, Inc. | 146,100 | 3,446,499 | |
| Fresh Del Monte Produce, Inc. | 48,945 | 1,218,241 | |
| Freshpet, Inc. (a) | 142,088 | 10,966,352 | |
| Hostess Brands, Inc. Class A (a) | 638,150 | 7,705,661 | |
| Ingredion, Inc. | 139,705 | 11,767,352 | |
| J&J Snack Foods Corp. | 14,403 | 1,852,658 | |
| John B. Sanfilippo & Son, Inc. | 8,481 | 737,338 | |
| Lamb Weston Holdings, Inc. | 222,606 | 13,369,716 | |
| Lancaster Colony Corp. | 19,090 | 2,929,551 | |
| Nomad Foods Ltd. (a) | 1,727,448 | 36,587,349 | |
| Pilgrim's Pride Corp. (a) | 178,900 | 3,697,863 | |
| Post Holdings, Inc. (a) | 13,402 | 1,166,778 | |
| Premium Brands Holdings Corp. | 82,644 | 5,234,090 | |
| SunOpta, Inc. (a) | 356,598 | 1,672,445 | |
| The Hain Celestial Group, Inc. (a) | 314,721 | 9,907,417 | |
| The J.M. Smucker Co. | 70,800 | 8,066,244 | |
| Tootsie Roll Industries, Inc. (b) | 16,667 | 593,679 | |
| TreeHouse Foods, Inc. (a) | 142,533 | 7,512,914 | |
| 128,432,147 | |||
| Household Products - 0.3% | |||
| Central Garden & Pet Co. Class A (non-vtg.) (a) | 109,100 | 3,737,766 | |
| Energizer Holdings, Inc. | 207,515 | 9,105,758 | |
| Reynolds Consumer Products, Inc. | 61,622 | 2,057,559 | |
| Spectrum Brands Holdings, Inc. | 56,594 | 2,678,028 | |
| WD-40 Co. | 13,220 | 2,536,257 | |
| 20,115,368 | |||
| Personal Products - 0.3% | |||
| elf Beauty, Inc. (a) | 656,686 | 11,255,598 | |
| Herbalife Nutrition Ltd. (a) | 89,519 | 3,924,513 | |
| LifeVantage Corp. (a) | 10,783 | 165,088 | |
| MediFast, Inc. (b) | 54,506 | 5,578,144 | |
| Nu Skin Enterprises, Inc. Class A | 145,449 | 5,407,794 | |
| USANA Health Sciences, Inc. (a) | 12,109 | 1,025,874 | |
| 27,357,011 | |||
| Tobacco - 0.1% | |||
| Universal Corp. | 102,735 | 4,526,504 | |
| TOTAL CONSUMER STAPLES | 265,577,415 | ||
| ENERGY - 0.8% | |||
| Energy Equipment & Services - 0.1% | |||
| Apergy Corp. (a)(b) | 93,482 | 847,882 | |
| Dril-Quip, Inc. (a) | 154,733 | 4,702,336 | |
| Halliburton Co. | 211,662 | 2,487,029 | |
| 8,037,247 | |||
| Oil, Gas & Consumable Fuels - 0.7% | |||
| Arch Resources, Inc. (b) | 21,000 | 692,160 | |
| Cabot Oil & Gas Corp. | 31,800 | 630,912 | |
| Canacol Energy Ltd. | 192,179 | 557,319 | |
| Cenovus Energy, Inc. | 267,253 | 1,157,205 | |
| Cimarex Energy Co. | 49,628 | 1,304,224 | |
| Comstock Resources, Inc. (a)(b) | 227,728 | 1,220,622 | |
| CONSOL Energy, Inc. (a) | 22,940 | 156,221 | |
| Delek U.S. Holdings, Inc. | 139,400 | 2,741,998 | |
| Devon Energy Corp. | 237,100 | 2,563,051 | |
| Diamondback Energy, Inc. | 44,258 | 1,884,506 | |
| EQT Corp. | 359,489 | 4,795,583 | |
| HollyFrontier Corp. | 422,603 | 13,290,864 | |
| Magnolia Oil & Gas Corp. Class A (a) | 181,500 | 1,007,325 | |
| Noble Energy, Inc. | 127,962 | 1,117,108 | |
| PBF Energy, Inc. Class A | 152,200 | 1,616,364 | |
| Southwestern Energy Co. (a) | 800,000 | 2,408,000 | |
| Tourmaline Oil Corp. | 415,348 | 4,120,003 | |
| W&T Offshore, Inc. (a)(b) | 480,500 | 1,254,105 | |
| World Fuel Services Corp. | 356,812 | 9,091,570 | |
| 51,609,140 | |||
| TOTAL ENERGY | 59,646,387 | ||
| FINANCIALS - 10.6% | |||
| Banks - 3.6% | |||
| Associated Banc-Corp. | 561,299 | 7,863,799 | |
| Bank of Hawaii Corp. | 34,731 | 2,234,245 | |
| Bank OZK | 481,664 | 10,832,623 | |
| BankUnited, Inc. | 808,313 | 14,937,624 | |
| Berkshire Hills Bancorp, Inc. | 84,000 | 908,880 | |
| Boston Private Financial Holdings, Inc. | 97,600 | 670,512 | |
| Cathay General Bancorp | 102,900 | 2,797,851 | |
| Centerstate Banks of Florida, Inc. | 135,704 | 2,144,123 | |
| CIT Group, Inc. | 136,200 | 2,470,668 | |
| Citizens Financial Group, Inc. | 300,900 | 7,251,690 | |
| Columbia Banking Systems, Inc. | 55,649 | 1,355,610 | |
| Comerica, Inc. | 158,071 | 5,745,881 | |
| Commerce Bancshares, Inc. | 203,182 | 12,948,789 | |
| Cullen/Frost Bankers, Inc. | 119,345 | 9,066,640 | |
| East West Bancorp, Inc. | 77,701 | 2,715,650 | |
| Fifth Third Bancorp | 472,475 | 9,161,290 | |
| First Citizens Bancshares, Inc. | 6,667 | 2,566,795 | |
| First Financial Bankshares, Inc. | 106,141 | 3,252,160 | |
| First Foundation, Inc. | 70,200 | 1,045,980 | |
| First Hawaiian, Inc. | 761,805 | 13,141,136 | |
| First Horizon National Corp. | 306,737 | 2,867,991 | |
| First Merchants Corp. | 88,853 | 2,493,215 | |
| FNB Corp., Pennsylvania | 230,100 | 1,705,041 | |
| Fulton Financial Corp. | 239,600 | 2,685,916 | |
| Hancock Whitney Corp. | 82,900 | 1,792,298 | |
| Hanmi Financial Corp. | 108,800 | 982,464 | |
| Hope Bancorp, Inc. | 395,500 | 3,755,273 | |
| Huntington Bancshares, Inc. | 756,262 | 6,723,169 | |
| IBERIABANK Corp. | 285,727 | 12,117,682 | |
| KeyCorp | 535,466 | 6,345,272 | |
| PacWest Bancorp | 122,800 | 2,125,668 | |
| Peoples Bancorp, Inc. | 40,051 | 899,946 | |
| Preferred Bank, Los Angeles | 13,127 | 493,181 | |
| Regions Financial Corp. | 682,820 | 7,722,694 | |
| ServisFirst Bancshares, Inc. | 304,341 | 10,615,414 | |
| Signature Bank | 110,150 | 11,335,537 | |
| Sterling Bancorp | 418,018 | 5,141,621 | |
| SVB Financial Group (a) | 28,630 | 6,148,293 | |
| Synovus Financial Corp. | 439,726 | 8,438,342 | |
| TCF Financial Corp. | 216,500 | 6,261,180 | |
| Texas Capital Bancshares, Inc. (a) | 126,879 | 3,395,282 | |
| Umpqua Holdings Corp. | 797,897 | 9,088,047 | |
| United Community Bank, Inc. | 213,500 | 4,173,925 | |
| Veritex Holdings, Inc. | 102,445 | 1,794,836 | |
| Webster Financial Corp. | 219,437 | 6,210,067 | |
| Western Alliance Bancorp. | 521,104 | 19,880,118 | |
| Zions Bancorp NA | 486,716 | 16,015,390 | |
| 274,319,808 | |||
| Capital Markets - 2.3% | |||
| Ameriprise Financial, Inc. | 21,804 | 3,054,086 | |
| Ares Management Corp. | 134,200 | 5,067,392 | |
| Artisan Partners Asset Management, Inc. | 51,562 | 1,493,751 | |
| Cohen & Steers, Inc. | 20,966 | 1,332,389 | |
| Cowen Group, Inc. Class A | 34,600 | 452,222 | |
| Diamond Hill Investment Group, Inc. | 3,002 | 315,090 | |
| E*TRADE Financial Corp. | 216,830 | 9,874,438 | |
| Eaton Vance Corp. (non-vtg.) | 327,891 | 11,820,471 | |
| Evercore, Inc. Class A | 118,694 | 6,541,226 | |
| FactSet Research Systems, Inc. | 36,957 | 11,364,647 | |
| Federated Hermes, Inc. Class B (non-vtg.) | 92,678 | 2,051,891 | |
| Focus Financial Partners, Inc. Class A (a)(b) | 226,285 | 6,299,774 | |
| FS KKR Capital Corp. (b) | 431,000 | 1,599,010 | |
| Houlihan Lokey | 42,338 | 2,560,602 | |
| Lazard Ltd. Class A | 689,974 | 18,532,702 | |
| Legg Mason, Inc. | 13,748 | 685,063 | |
| LPL Financial | 286,876 | 20,480,078 | |
| Moelis & Co. Class A | 512,250 | 17,226,968 | |
| Morningstar, Inc. | 107,453 | 16,474,694 | |
| Newtek Business Services Corp. | 120,383 | 2,065,772 | |
| Oaktree Specialty Lending Corp. | 547,600 | 2,480,628 | |
| PJT Partners, Inc. | 69,534 | 3,802,814 | |
| Prospect Capital Corp. (b) | 499,800 | 2,533,986 | |
| SEI Investments Co. | 121,756 | 6,601,610 | |
| Stifel Financial Corp. | 21,777 | 1,038,981 | |
| Tradeweb Markets, Inc. Class A | 75,816 | 5,000,823 | |
| Victory Capital Holdings, Inc. | 569,313 | 9,513,220 | |
| Waddell & Reed Financial, Inc. Class A (b) | 65,142 | 849,452 | |
| WisdomTree Investments, Inc. | 1,910,260 | 5,711,677 | |
| 176,825,457 | |||
| Consumer Finance - 0.8% | |||
| Ally Financial, Inc. | 244,300 | 4,260,592 | |
| Credit Acceptance Corp. (a)(b) | 13,419 | 4,962,615 | |
| CURO Group Holdings Corp. | 10,632 | 71,128 | |
| Encore Capital Group, Inc. (a)(b) | 119,801 | 3,806,078 | |
| Enova International, Inc. (a) | 32,572 | 460,894 | |
| First Cash Financial Services, Inc. | 134,035 | 9,351,622 | |
| LendingTree, Inc. (a)(b) | 16,638 | 4,326,213 | |
| Navient Corp. | 1,778,514 | 13,232,144 | |
| OneMain Holdings, Inc. | 200,234 | 4,671,459 | |
| PRA Group, Inc. (a) | 94,369 | 3,219,870 | |
| Regional Management Corp. (a) | 68,700 | 1,089,582 | |
| SLM Corp. | 1,278,593 | 9,691,735 | |
| Synchrony Financial | 146,765 | 2,989,603 | |
| 62,133,535 | |||
| Diversified Financial Services - 0.1% | |||
| Banco Latinoamericano de Comercio Exterior SA Series E | 75,700 | 893,260 | |
| Voya Financial, Inc. | 186,600 | 8,406,330 | |
| 9,299,590 | |||
| Insurance - 2.9% | |||
| Alleghany Corp. | 7,927 | 4,067,344 | |
| American Financial Group, Inc. | 149,954 | 9,033,229 | |
| Amerisafe, Inc. | 18,617 | 1,142,711 | |
| Assurant, Inc. | 53,185 | 5,455,717 | |
| Assured Guaranty Ltd. | 290,548 | 7,533,910 | |
| Athene Holding Ltd. (a) | 114,441 | 3,306,200 | |
| Axis Capital Holdings Ltd. | 220,524 | 8,278,471 | |
| Brown & Brown, Inc. | 46,500 | 1,869,300 | |
| CNA Financial Corp. | 253,700 | 7,669,351 | |
| CNO Financial Group, Inc. | 339,200 | 4,867,520 | |
| Crawford & Co. Class B | 166,972 | 958,419 | |
| eHealth, Inc. (a) | 55,341 | 7,217,573 | |
| Enstar Group Ltd. (a) | 14,233 | 2,026,779 | |
| Erie Indemnity Co. Class A | 17,823 | 3,212,418 | |
| Everest Re Group Ltd. | 90,981 | 18,051,540 | |
| First American Financial Corp. | 435,812 | 22,004,148 | |
| Genworth Financial, Inc. Class A | 149,800 | 456,890 | |
| Globe Life, Inc. | 13,100 | 1,008,962 | |
| Goosehead Insurance (a)(b) | 66,050 | 3,959,698 | |
| Hanover Insurance Group, Inc. | 75,318 | 7,558,161 | |
| Health Insurance Innovations, Inc. (a)(b) | 10,673 | 209,511 | |
| Heritage Insurance Holdings, Inc. | 127,900 | 1,603,866 | |
| Kemper Corp. | 69,023 | 4,376,058 | |
| Kinsale Capital Group, Inc. | 128,355 | 19,165,969 | |
| Lincoln National Corp. | 154,900 | 5,875,357 | |
| National General Holdings Corp. | 321,445 | 6,525,334 | |
| Old Republic International Corp. | 614,170 | 9,574,910 | |
| Palomar Holdings, Inc. (a) | 11,008 | 819,215 | |
| Primerica, Inc. | 39,900 | 4,534,236 | |
| Reinsurance Group of America, Inc. | 210,855 | 19,135,091 | |
| RLI Corp. | 238,545 | 18,835,513 | |
| Selective Insurance Group, Inc. | 80,610 | 4,227,995 | |
| Selectquote, Inc. | 2,750 | 75,680 | |
| Universal Insurance Holdings, Inc. | 129,479 | 2,312,495 | |
| Unum Group | 241,300 | 3,655,695 | |
| White Mountains Insurance Group Ltd. | 5,463 | 5,001,704 | |
| 225,606,970 | |||
| Mortgage Real Estate Investment Trusts - 0.3% | |||
| AGNC Investment Corp. | 261,245 | 3,380,510 | |
| Annaly Capital Management, Inc. | 349,000 | 2,149,840 | |
| Ares Commercial Real Estate Corp. | 131,776 | 981,731 | |
| Blackstone Mortgage Trust, Inc. | 103,041 | 2,430,737 | |
| Chimera Investment Corp. (b) | 176,100 | 1,463,391 | |
| MFA Financial, Inc. | 419,200 | 708,448 | |
| New York Mortgage Trust, Inc. | 403,200 | 838,656 | |
| Redwood Trust, Inc. | 219,495 | 1,174,298 | |
| Starwood Property Trust, Inc. | 242,190 | 3,211,439 | |
| Two Harbors Investment Corp. | 595,888 | 2,693,414 | |
| 19,032,464 | |||
| Thrifts & Mortgage Finance - 0.6% | |||
| Axos Financial, Inc. (a) | 166,132 | 3,621,678 | |
| Essent Group Ltd. | 564,432 | 18,654,478 | |
| Farmer Mac Class C (non-vtg.) | 52,564 | 3,370,929 | |
| Meta Financial Group, Inc. | 86,650 | 1,570,098 | |
| MGIC Investment Corp. | 501,700 | 4,118,957 | |
| NMI Holdings, Inc. (a) | 310,761 | 4,774,843 | |
| Radian Group, Inc. | 282,871 | 4,491,991 | |
| Walker & Dunlop, Inc. | 145,169 | 5,879,345 | |
| WMI Holdings Corp. (a) | 199,778 | 2,227,525 | |
| 48,709,844 | |||
| TOTAL FINANCIALS | 815,927,668 | ||
| HEALTH CARE - 14.0% | |||
| Biotechnology - 3.8% | |||
| ACADIA Pharmaceuticals, Inc. (a) | 113,022 | 5,614,933 | |
| ADC Therapeutics SA (a)(b) | 26,332 | 972,967 | |
| Agios Pharmaceuticals, Inc. (a) | 154,199 | 7,978,256 | |
| Aimmune Therapeutics, Inc. (a)(b) | 182,718 | 3,034,946 | |
| Akebia Therapeutics, Inc. (a) | 215,943 | 2,513,577 | |
| Allogene Therapeutics, Inc. (a)(b) | 65,210 | 3,140,514 | |
| Anika Therapeutics, Inc. (a) | 13,756 | 461,239 | |
| Applied Genetic Technologies Corp. (a) | 420,290 | 2,017,392 | |
| Arena Pharmaceuticals, Inc. (a) | 50,880 | 3,041,098 | |
| Ascendis Pharma A/S sponsored ADR (a) | 19,891 | 2,893,942 | |
| Aurinia Pharmaceuticals, Inc. (a) | 47,200 | 749,064 | |
| Avid Bioservices, Inc. (a) | 149,713 | 874,324 | |
| BeiGene Ltd. ADR (a)(b) | 13,890 | 2,299,351 | |
| Biohaven Pharmaceutical Holding Co. Ltd. (a)(b) | 56,326 | 3,518,685 | |
| BioMarin Pharmaceutical, Inc. (a) | 55,510 | 5,914,591 | |
| Biospecifics Technologies Corp. (a) | 5,514 | 342,971 | |
| Blueprint Medicines Corp. (a) | 71,225 | 4,639,597 | |
| Castle Biosciences, Inc. | 36,789 | 1,413,801 | |
| Coherus BioSciences, Inc. (a) | 163,860 | 3,054,350 | |
| DBV Technologies SA sponsored ADR (a)(b) | 548,016 | 2,657,878 | |
| Deciphera Pharmaceuticals, Inc. (a) | 188,285 | 11,027,852 | |
| Emergent BioSolutions, Inc. (a) | 191,046 | 15,950,431 | |
| Exact Sciences Corp. (a) | 214,550 | 18,425,554 | |
| Exelixis, Inc. (a) | 159,029 | 3,929,607 | |
| Gilead Sciences, Inc. | 34,835 | 2,711,208 | |
| Global Blood Therapeutics, Inc. (a) | 87,375 | 6,109,260 | |
| Gossamer Bio, Inc. (a) | 87,186 | 1,059,310 | |
| Halozyme Therapeutics, Inc. (a) | 728,905 | 17,690,524 | |
| Heron Therapeutics, Inc. (a) | 523,359 | 9,535,601 | |
| Immunomedics, Inc. (a) | 627,371 | 21,073,392 | |
| Insmed, Inc. (a) | 75,222 | 1,827,142 | |
| Iovance Biotherapeutics, Inc. (a) | 112,971 | 3,625,239 | |
| Karyopharm Therapeutics, Inc. (a) | 143,644 | 2,655,978 | |
| Kodiak Sciences, Inc. (a)(b) | 122,655 | 7,924,740 | |
| Ligand Pharmaceuticals, Inc. Class B (a)(b) | 157,574 | 16,004,791 | |
| Madrigal Pharmaceuticals, Inc. (a)(b) | 19,789 | 2,295,920 | |
| Neurocrine Biosciences, Inc. (a) | 304,703 | 38,014,746 | |
| NextCure, Inc. | 51,550 | 1,608,876 | |
| Pluristem Therapeutics, Inc. (a)(b) | 108,792 | 873,600 | |
| Precision BioSciences, Inc. (a)(b) | 114,053 | 799,512 | |
| PTC Therapeutics, Inc. (a) | 81,060 | 4,110,553 | |
| Puma Biotechnology, Inc. (a)(b) | 51,909 | 529,991 | |
| Recro Pharma, Inc. (a) | 105,314 | 476,019 | |
| Repligen Corp. (a) | 43,945 | 5,755,477 | |
| Sarepta Therapeutics, Inc. (a) | 56,310 | 8,574,324 | |
| Seattle Genetics, Inc. (a) | 17,700 | 2,782,617 | |
| Syros Pharmaceuticals, Inc. (a)(b) | 359,393 | 3,518,457 | |
| Turning Point Therapeutics, Inc. (a) | 44,388 | 3,073,869 | |
| Ultragenyx Pharmaceutical, Inc. (a) | 51,318 | 3,513,230 | |
| United Therapeutics Corp. (a) | 80,321 | 9,473,862 | |
| Viking Therapeutics, Inc. (a)(b) | 836,836 | 5,983,377 | |
| Vir Biotechnology, Inc. (a) | 70,046 | 2,394,172 | |
| 290,462,707 | |||
| Health Care Equipment & Supplies - 3.9% | |||
| Abiomed, Inc. (a) | 57,136 | 12,792,750 | |
| Atricure, Inc. (a) | 50,600 | 2,419,186 | |
| Atrion Corp. | 1,378 | 884,662 | |
| AxoGen, Inc. (a) | 1,045,465 | 10,141,011 | |
| Beyond Air, Inc. (a)(b) | 127,753 | 930,042 | |
| Cantel Medical Corp. | 31,556 | 1,327,876 | |
| Chembio Diagnostics, Inc. (a)(b) | 232,234 | 2,236,413 | |
| Endologix, Inc. (a)(b) | 452,524 | 332,786 | |
| Envista Holdings Corp. (a) | 306,368 | 6,476,620 | |
| Genmark Diagnostics, Inc. (a) | 464,143 | 4,404,717 | |
| Haemonetics Corp. (a) | 14,869 | 1,630,832 | |
| Hill-Rom Holdings, Inc. | 8,659 | 880,361 | |
| Hologic, Inc. (a) | 249,209 | 13,208,077 | |
| ICU Medical, Inc. (a) | 49,560 | 9,893,167 | |
| IDEXX Laboratories, Inc. (a) | 66,357 | 20,496,350 | |
| Inari Medical, Inc. | 21,424 | 942,656 | |
| Insulet Corp. (a) | 68,025 | 12,827,474 | |
| Integra LifeSciences Holdings Corp. (a) | 81,473 | 4,245,558 | |
| iRhythm Technologies, Inc. (a) | 56,280 | 6,996,167 | |
| LeMaitre Vascular, Inc. | 10,513 | 282,695 | |
| Masimo Corp. (a) | 52,217 | 12,542,001 | |
| Meridian Bioscience, Inc. (a) | 35,933 | 555,524 | |
| Merit Medical Systems, Inc. (a) | 586,693 | 26,395,318 | |
| Neogen Corp. (a) | 50,570 | 3,601,595 | |
| Nevro Corp. (a) | 45,851 | 5,758,886 | |
| Penumbra, Inc. (a) | 28,713 | 4,950,695 | |
| Quidel Corp. (a) | 96,928 | 16,962,400 | |
| Semler Scientific, Inc. (a) | 99,800 | 4,220,542 | |
| STERIS PLC | 254,892 | 42,284,034 | |
| Tandem Diabetes Care, Inc. (a) | 26,800 | 2,228,420 | |
| Teleflex, Inc. | 31,992 | 11,608,617 | |
| The Cooper Companies, Inc. | 65,761 | 20,844,922 | |
| West Pharmaceutical Services, Inc. | 149,056 | 32,202,058 | |
| 297,504,412 | |||
| Health Care Providers & Services - 3.0% | |||
| Amedisys, Inc. (a) | 31,020 | 5,957,391 | |
| BioTelemetry, Inc. (a) | 493,241 | 23,271,110 | |
| Centene Corp. (a) | 243,475 | 16,130,219 | |
| Chemed Corp. | 30,393 | 14,543,354 | |
| Corvel Corp. (a) | 7,786 | 528,592 | |
| DaVita HealthCare Partners, Inc. (a) | 63,300 | 5,124,768 | |
| Encompass Health Corp. | 326,748 | 23,934,291 | |
| Five Star Sr Living, Inc. (a) | 40,440 | 150,032 | |
| Guardant Health, Inc. (a) | 81,223 | 7,341,747 | |
| HealthEquity, Inc. (a) | 275,661 | 17,082,712 | |
| LHC Group, Inc. (a) | 69,870 | 11,354,574 | |
| MEDNAX, Inc. (a) | 1,213,670 | 18,848,295 | |
| Molina Healthcare, Inc. (a) | 207,916 | 38,634,951 | |
| National Research Corp. Class A | 11,536 | 654,322 | |
| Owens & Minor, Inc. | 266,300 | 2,111,759 | |
| Premier, Inc. (a) | 592,710 | 20,620,381 | |
| Quest Diagnostics, Inc. | 64,400 | 7,617,232 | |
| R1 RCM, Inc. (a) | 334,355 | 3,547,507 | |
| Select Medical Holdings Corp. (a) | 297,200 | 4,796,808 | |
| U.S. Physical Therapy, Inc. | 10,551 | 782,251 | |
| Universal Health Services, Inc. Class B | 59,264 | 6,249,389 | |
| 229,281,685 | |||
| Health Care Technology - 0.4% | |||
| Change Healthcare, Inc. | 455,590 | 5,685,763 | |
| iCAD, Inc. (a) | 143,327 | 1,682,659 | |
| Livongo Health, Inc. (b) | 34,100 | 2,043,613 | |
| Phreesia, Inc. | 42,100 | 1,234,372 | |
| Simulations Plus, Inc. (b) | 11,724 | 594,055 | |
| Teladoc Health, Inc. (a)(b) | 63,260 | 11,011,036 | |
| Veeva Systems, Inc. Class A (a) | 36,490 | 7,986,566 | |
| 30,238,064 | |||
| Life Sciences Tools & Services - 1.3% | |||
| 10X Genomics, Inc. (a) | 68,809 | 5,365,038 | |
| Avantor, Inc. | 267,761 | 5,079,426 | |
| Bio-Rad Laboratories, Inc. Class A (a) | 26,777 | 13,156,076 | |
| Bio-Techne Corp. | 36,764 | 9,735,107 | |
| Bruker Corp. | 131,444 | 5,688,896 | |
| Frontage Holdings Corp. (a)(c) | 622,000 | 330,557 | |
| ICON PLC (a) | 117,446 | 19,783,779 | |
| Medpace Holdings, Inc. (a) | 26,410 | 2,451,376 | |
| PPD, Inc. | 124,325 | 3,386,613 | |
| Quanterix Corp. (a) | 69,633 | 1,921,174 | |
| Syneos Health, Inc. (a) | 605,956 | 36,957,256 | |
| 103,855,298 | |||
| Pharmaceuticals - 1.6% | |||
| Aerie Pharmaceuticals, Inc. (a)(b) | 166,902 | 2,341,635 | |
| Catalent, Inc. (a) | 306,248 | 23,804,657 | |
| Collegium Pharmaceutical, Inc. (a)(b) | 106,282 | 2,343,518 | |
| GW Pharmaceuticals PLC ADR (a)(b) | 71,902 | 8,825,971 | |
| Horizon Pharma PLC (a) | 354,550 | 17,986,322 | |
| Innoviva, Inc. (a) | 267,362 | 3,735,047 | |
| Jazz Pharmaceuticals PLC (a) | 123,976 | 14,792,816 | |
| Lannett Co., Inc. (a)(b) | 177,600 | 1,358,640 | |
| Nektar Therapeutics (a) | 123,348 | 2,676,652 | |
| Pacira Biosciences, Inc. (a) | 83,958 | 3,689,954 | |
| Perrigo Co. PLC | 104,860 | 5,743,182 | |
| Pfizer, Inc. | 155,388 | 5,934,268 | |
| Prestige Brands Holdings, Inc. (a) | 88,948 | 3,753,606 | |
| Reata Pharmaceuticals, Inc. (a) | 30,597 | 4,446,356 | |
| Revance Therapeutics, Inc. (a)(b) | 680,225 | 14,216,703 | |
| Supernus Pharmaceuticals, Inc. (a) | 160,943 | 3,881,945 | |
| Zogenix, Inc. (a) | 66,272 | 1,930,503 | |
| Zynerba Pharmaceuticals, Inc. (a)(b) | 385,024 | 2,025,226 | |
| 123,487,001 | |||
| TOTAL HEALTH CARE | 1,074,829,167 | ||
| INDUSTRIALS - 15.6% | |||
| Aerospace & Defense - 0.8% | |||
| AAR Corp. | 181,069 | 3,652,162 | |
| Axon Enterprise, Inc. (a) | 75,989 | 5,772,124 | |
| Curtiss-Wright Corp. | 48,881 | 4,902,764 | |
| HEICO Corp. Class A | 64,518 | 5,416,286 | |
| Howmet Aerospace, Inc. | 146,121 | 1,911,263 | |
| Huntington Ingalls Industries, Inc. | 63,505 | 12,694,014 | |
| Mercury Systems, Inc. (a) | 101,580 | 9,076,173 | |
| Moog, Inc. Class A | 52,400 | 2,844,796 | |
| National Presto Industries, Inc. | 4,180 | 376,158 | |
| Northrop Grumman Corp. | 5,551 | 1,860,695 | |
| PAE, Inc. (a)(b) | 269,012 | 2,528,713 | |
| Teledyne Technologies, Inc. (a) | 7,000 | 2,618,840 | |
| Textron, Inc. | 196,658 | 6,090,498 | |
| 59,744,486 | |||
| Air Freight & Logistics - 0.6% | |||
| Atlas Air Worldwide Holdings, Inc. (a) | 75,884 | 2,964,029 | |
| C.H. Robinson Worldwide, Inc. | 179,509 | 14,563,565 | |
| Forward Air Corp. | 157,155 | 7,807,460 | |
| Hub Group, Inc. Class A (a) | 6,759 | 316,118 | |
| XPO Logistics, Inc. (a) | 232,519 | 18,324,822 | |
| 43,975,994 | |||
| Airlines - 0.3% | |||
| Alaska Air Group, Inc. | 260,964 | 8,922,359 | |
| JetBlue Airways Corp. (a) | 520,555 | 5,241,989 | |
| SkyWest, Inc. | 292,943 | 9,394,682 | |
| 23,559,030 | |||
| Building Products - 1.4% | |||
| A.O. Smith Corp. | 125,101 | 5,942,298 | |
| AAON, Inc. | 35,328 | 1,913,718 | |
| Advanced Drain Systems, Inc. | 57,830 | 2,564,182 | |
| Apogee Enterprises, Inc. | 76,492 | 1,579,560 | |
| Armstrong World Industries, Inc. | 198,376 | 14,955,567 | |
| CSW Industrials, Inc. | 13,276 | 950,031 | |
| Fortune Brands Home & Security, Inc. | 239,725 | 14,613,636 | |
| Lennox International, Inc. | 66,135 | 14,142,308 | |
| Masonite International Corp. (a) | 249,172 | 16,540,037 | |
| Owens Corning | 175,269 | 9,201,623 | |
| Patrick Industries, Inc. | 155,027 | 8,041,250 | |
| Simpson Manufacturing Co. Ltd. | 35,969 | 2,879,678 | |
| Trex Co., Inc. (a) | 105,021 | 12,615,123 | |
| 105,939,011 | |||
| Commercial Services & Supplies - 2.7% | |||
| ABM Industries, Inc. | 961,369 | 29,542,869 | |
| ACCO Brands Corp. | 513,344 | 3,177,599 | |
| Casella Waste Systems, Inc. Class A (a) | 18,227 | 928,666 | |
| Cimpress PLC (a)(b) | 119,131 | 10,737,277 | |
| Clean Harbors, Inc. (a) | 314,212 | 18,661,051 | |
| Copart, Inc. (a) | 49,341 | 4,410,592 | |
| Covanta Holding Corp. | 167,827 | 1,510,443 | |
| Deluxe Corp. | 113,856 | 2,656,260 | |
| Harsco Corp. (a) | 275,679 | 3,076,578 | |
| Healthcare Services Group, Inc. | 598,429 | 14,314,422 | |
| Herman Miller, Inc. | 215,187 | 4,953,605 | |
| IAA Spinco, Inc. (a) | 597,141 | 24,482,781 | |
| KAR Auction Services, Inc. | 543,433 | 7,798,264 | |
| MSA Safety, Inc. | 190,110 | 22,611,683 | |
| Pitney Bowes, Inc. (b) | 367,000 | 869,790 | |
| Ritchie Bros. Auctioneers, Inc. | 551,067 | 23,844,669 | |
| Rollins, Inc. | 61,270 | 2,561,086 | |
| Steelcase, Inc. Class A | 279,500 | 3,236,610 | |
| The Brink's Co. | 91,087 | 3,652,589 | |
| UniFirst Corp. | 13,417 | 2,412,377 | |
| Waste Connection, Inc. (United States) | 262,544 | 24,689,638 | |
| 210,128,849 | |||
| Construction & Engineering - 0.5% | |||
| AECOM (a) | 288,920 | 11,201,428 | |
| Aegion Corp. (a) | 164,168 | 2,464,162 | |
| Jacobs Engineering Group, Inc. | 56,250 | 4,726,125 | |
| MasTec, Inc. (a) | 114,512 | 4,483,145 | |
| Quanta Services, Inc. | 229,236 | 8,465,685 | |
| Williams Scotsman Corp. (a) | 633,193 | 8,446,795 | |
| 39,787,340 | |||
| Electrical Equipment - 1.3% | |||
| Acuity Brands, Inc. | 67,153 | 5,785,231 | |
| AMETEK, Inc. | 57,162 | 5,242,327 | |
| EnerSys | 251,867 | 15,943,181 | |
| Generac Holdings, Inc. (a) | 233,535 | 25,985,439 | |
| Hubbell, Inc. Class B | 47,560 | 5,822,295 | |
| nVent Electric PLC | 141,944 | 2,601,834 | |
| Regal Beloit Corp. | 190,332 | 15,139,007 | |
| Sensata Technologies, Inc. PLC (a) | 600,438 | 21,405,615 | |
| Vicor Corp. (a) | 20,080 | 1,224,478 | |
| 99,149,407 | |||
| Industrial Conglomerates - 0.1% | |||
| Carlisle Companies, Inc. | 56,772 | 6,804,692 | |
| Raven Industries, Inc. | 31,255 | 670,420 | |
| 7,475,112 | |||
| Machinery - 4.1% | |||
| AGCO Corp. | 93,400 | 5,158,482 | |
| Allison Transmission Holdings, Inc. | 295,291 | 11,138,377 | |
| Crane Co. | 65,409 | 3,644,589 | |
| Donaldson Co., Inc. | 111,188 | 5,275,871 | |
| Douglas Dynamics, Inc. | 159,115 | 5,814,062 | |
| Flowserve Corp. | 29,400 | 767,340 | |
| Gardner Denver Holdings, Inc. (a) | 269,362 | 7,596,008 | |
| Gorman-Rupp Co. | 16,573 | 508,128 | |
| Graco, Inc. | 144,700 | 6,975,987 | |
| Hillenbrand, Inc. | 149,322 | 3,843,548 | |
| IDEX Corp. | 189,881 | 30,261,335 | |
| ITT, Inc. | 76,161 | 4,394,490 | |
| John Bean Technologies Corp. | 187,996 | 15,443,871 | |
| Kennametal, Inc. | 517,737 | 14,362,024 | |
| Lincoln Electric Holdings, Inc. | 256,767 | 21,098,544 | |
| Meritor, Inc. (a) | 219,680 | 4,477,078 | |
| Middleby Corp. (a) | 234,876 | 15,995,056 | |
| Nordson Corp. | 170,984 | 32,204,836 | |
| Omega Flex, Inc. | 2,824 | 288,895 | |
| Oshkosh Corp. | 194,760 | 13,987,663 | |
| Proto Labs, Inc. (a) | 23,537 | 2,973,900 | |
| RBC Bearings, Inc. (a) | 108,068 | 15,199,764 | |
| Rexnord Corp. | 104,809 | 3,154,751 | |
| Snap-On, Inc. | 152,279 | 19,749,064 | |
| Tennant Co. | 207,133 | 13,244,084 | |
| The Shyft Group, Inc. | 204,736 | 3,496,891 | |
| Timken Co. | 98,800 | 4,202,952 | |
| Toro Co. | 345,604 | 24,562,076 | |
| Trinity Industries, Inc. (b) | 206,600 | 4,125,802 | |
| Welbilt, Inc. (a) | 260,280 | 1,582,502 | |
| Woodward, Inc. | 238,967 | 16,388,357 | |
| 311,916,327 | |||
| Marine - 0.4% | |||
| Kirby Corp. (a) | 343,011 | 17,589,604 | |
| Matson, Inc. | 505,700 | 14,447,849 | |
| 32,037,453 | |||
| Professional Services - 1.5% | |||
| ASGN, Inc. (a) | 131,714 | 8,112,265 | |
| Barrett Business Services, Inc. | 7,229 | 366,510 | |
| CoreLogic, Inc. | 177,785 | 8,811,025 | |
| CoStar Group, Inc. (a) | 16,709 | 10,974,471 | |
| Exponent, Inc. | 45,219 | 3,357,059 | |
| FTI Consulting, Inc. (a) | 124,321 | 14,975,708 | |
| Huron Consulting Group, Inc. (a) | 42,708 | 1,975,672 | |
| ICF International, Inc. | 30,526 | 2,001,895 | |
| InnerWorkings, Inc. (a) | 1,070,483 | 1,273,875 | |
| Kforce, Inc. | 19,089 | 576,488 | |
| Manpower, Inc. | 148,595 | 10,273,858 | |
| Robert Half International, Inc. | 113,409 | 5,754,373 | |
| TransUnion Holding Co., Inc. | 141,500 | 12,210,035 | |
| TriNet Group, Inc. (a) | 624,833 | 33,572,277 | |
| 114,235,511 | |||
| Road & Rail - 0.8% | |||
| Daseke, Inc. (a) | 90,295 | 249,666 | |
| Heartland Express, Inc. | 367,224 | 8,042,206 | |
| Kansas City Southern | 34,440 | 5,183,909 | |
| Knight-Swift Transportation Holdings, Inc. Class A | 591,543 | 24,614,104 | |
| Landstar System, Inc. | 176,413 | 20,509,775 | |
| Old Dominion Freight Lines, Inc. | 22,200 | 3,798,198 | |
| Schneider National, Inc. Class B | 83,300 | 2,013,361 | |
| 64,411,219 | |||
| Trading Companies & Distributors - 1.1% | |||
| Air Lease Corp. Class A | 121,183 | 3,648,820 | |
| Alta Equipment Group, Inc. (a) | 554,317 | 3,713,924 | |
| Applied Industrial Technologies, Inc. | 91,538 | 5,309,204 | |
| BMC Stock Holdings, Inc. (a) | 87,205 | 2,282,155 | |
| EVI Industries, Inc. (a)(b) | 97,348 | 1,913,862 | |
| H&E Equipment Services, Inc. | 134,437 | 2,304,250 | |
| HD Supply Holdings, Inc. (a) | 145,470 | 4,612,854 | |
| Kaman Corp. | 24,306 | 972,240 | |
| MRC Global, Inc. (a) | 750,346 | 4,442,048 | |
| MSC Industrial Direct Co., Inc. Class A | 63,958 | 4,434,848 | |
| SiteOne Landscape Supply, Inc. (a) | 133,571 | 14,199,933 | |
| Transcat, Inc. (a) | 186,273 | 4,664,276 | |
| Triton International Ltd. | 186,565 | 5,690,233 | |
| United Rentals, Inc. (a) | 118,640 | 16,477,910 | |
| Watsco, Inc. | 20,815 | 3,703,197 | |
| WESCO International, Inc. (a) | 56,386 | 1,877,654 | |
| 80,247,408 | |||
| TOTAL INDUSTRIALS | 1,192,607,147 | ||
| INFORMATION TECHNOLOGY - 18.6% | |||
| Communications Equipment - 0.8% | |||
| Ciena Corp. (a) | 384,493 | 21,247,083 | |
| Cisco Systems, Inc. | 35,858 | 1,714,730 | |
| CommScope Holding Co., Inc. (a) | 195,253 | 2,013,058 | |
| F5 Networks, Inc. (a) | 112,966 | 16,371,033 | |
| Juniper Networks, Inc. | 210,300 | 5,101,878 | |
| KVH Industries, Inc. (a) | 206,370 | 1,896,540 | |
| NetScout Systems, Inc. (a) | 225,243 | 6,187,425 | |
| Nokia Corp. sponsored ADR (b) | 911,482 | 3,600,354 | |
| Radware Ltd. (a) | 137,928 | 3,285,445 | |
| Viavi Solutions, Inc. (a) | 248,950 | 2,885,331 | |
| 64,302,877 | |||
| Electronic Equipment & Components - 2.5% | |||
| Arrow Electronics, Inc. (a) | 188,045 | 12,990,149 | |
| Avnet, Inc. | 50,500 | 1,375,620 | |
| Badger Meter, Inc. | 28,080 | 1,718,215 | |
| Belden, Inc. | 924,859 | 31,482,200 | |
| Cognex Corp. | 371,106 | 21,056,554 | |
| Coherent, Inc. (a) | 24,405 | 3,543,850 | |
| Dolby Laboratories, Inc. Class A | 61,708 | 3,747,527 | |
| Flextronics International Ltd. (a) | 411,366 | 3,994,364 | |
| FLIR Systems, Inc. | 196,785 | 9,091,467 | |
| Insight Enterprises, Inc. (a) | 97,122 | 4,978,474 | |
| IPG Photonics Corp. (a) | 62,281 | 9,678,467 | |
| Jabil, Inc. | 196,800 | 5,888,256 | |
| Littelfuse, Inc. | 33,116 | 5,381,019 | |
| National Instruments Corp. | 113,785 | 4,405,755 | |
| Novanta, Inc. (a) | 60,316 | 6,195,056 | |
| Par Technology Corp. (a)(b) | 178,282 | 4,458,833 | |
| Powerfleet, Inc. (a) | 634,846 | 2,983,776 | |
| Rogers Corp. (a) | 17,915 | 1,939,478 | |
| Sanmina Corp. (a) | 117,700 | 3,131,997 | |
| ScanSource, Inc. (a) | 71,700 | 1,767,405 | |
| SYNNEX Corp. | 135,681 | 14,470,379 | |
| Trimble, Inc. (a) | 392,721 | 15,363,246 | |
| TTM Technologies, Inc. (a) | 714,518 | 8,266,973 | |
| Vishay Intertechnology, Inc. | 576,146 | 9,368,134 | |
| 187,277,194 | |||
| IT Services - 3.4% | |||
| 3PEA International, Inc. (a)(b) | 25,877 | 186,832 | |
| Akamai Technologies, Inc. (a) | 24,997 | 2,644,683 | |
| Amdocs Ltd. | 322,044 | 20,050,459 | |
| Black Knight, Inc. (a) | 161,391 | 12,423,879 | |
| Booz Allen Hamilton Holding Corp. Class A | 35,356 | 2,819,995 | |
| Broadridge Financial Solutions, Inc. | 100,520 | 12,172,972 | |
| CACI International, Inc. Class A (a) | 16,978 | 4,257,743 | |
| Cass Information Systems, Inc. | 11,604 | 468,105 | |
| Computer Services, Inc. | 204,773 | 10,226,364 | |
| DXC Technology Co. | 87,588 | 1,244,625 | |
| Equiniti Group PLC (c) | 2,398,754 | 3,951,923 | |
| Euronet Worldwide, Inc. (a) | 205,116 | 19,430,639 | |
| EVERTEC, Inc. | 181,391 | 5,282,106 | |
| Gartner, Inc. (a) | 107,216 | 13,048,187 | |
| Genpact Ltd. | 145,610 | 5,234,680 | |
| GoDaddy, Inc. (a) | 219,388 | 16,947,723 | |
| Hackett Group, Inc. | 25,947 | 357,809 | |
| Jack Henry & Associates, Inc. | 75,667 | 13,685,134 | |
| Maximus, Inc. | 170,231 | 12,260,037 | |
| MongoDB, Inc. Class A (a) | 5,260 | 1,220,899 | |
| NIC, Inc. | 64,595 | 1,554,156 | |
| PayPal Holdings, Inc. (a) | 13,877 | 2,151,074 | |
| Perficient, Inc. (a) | 31,458 | 1,070,830 | |
| PFSweb, Inc. (a) | 232,903 | 1,381,115 | |
| Science Applications International Corp. | 112,559 | 9,909,694 | |
| Switch, Inc. Class A | 448,430 | 8,569,497 | |
| Sykes Enterprises, Inc. (a) | 72,500 | 1,976,350 | |
| The Western Union Co. | 154,700 | 3,097,094 | |
| Ttec Holdings, Inc. | 102,097 | 4,324,829 | |
| Twilio, Inc. Class A (a) | 35,701 | 7,054,518 | |
| Unisys Corp. (a) | 1,199,293 | 13,623,968 | |
| WEX, Inc. (a) | 103,720 | 15,358,858 | |
| Wix.com Ltd. (a) | 104,183 | 23,163,006 | |
| WNS Holdings Ltd. sponsored ADR (a) | 136,590 | 6,602,761 | |
| 257,752,544 | |||
| Semiconductors & Semiconductor Equipment - 2.8% | |||
| Amkor Technology, Inc. (a) | 289,600 | 3,063,968 | |
| AXT, Inc. (a) | 486,059 | 2,571,252 | |
| Cabot Microelectronics Corp. | 136,169 | 19,725,441 | |
| Cirrus Logic, Inc. (a) | 31,300 | 2,268,624 | |
| Cree, Inc. (a) | 44,532 | 2,346,391 | |
| Diodes, Inc. (a) | 117,500 | 5,715,200 | |
| Entegris, Inc. | 229,702 | 13,754,556 | |
| First Solar, Inc. (a) | 37,011 | 1,725,453 | |
| Inphi Corp. (a) | 38,170 | 4,796,824 | |
| Kulicke & Soffa Industries, Inc. | 338,938 | 7,578,654 | |
| Lattice Semiconductor Corp. (a) | 472,476 | 11,750,478 | |
| Maxim Integrated Products, Inc. | 245,970 | 14,187,550 | |
| MaxLinear, Inc. Class A (a) | 450,632 | 7,804,946 | |
| MKS Instruments, Inc. | 105,929 | 11,189,280 | |
| Monolithic Power Systems, Inc. | 97,889 | 20,532,218 | |
| NVE Corp. | 4,674 | 282,917 | |
| ON Semiconductor Corp. (a) | 2,315,794 | 38,187,443 | |
| Power Integrations, Inc. | 28,383 | 3,075,298 | |
| Qorvo, Inc. (a) | 67,300 | 7,049,002 | |
| Semtech Corp. (a) | 261,587 | 13,911,197 | |
| Silicon Laboratories, Inc. (a) | 91,808 | 8,598,737 | |
| Skyworks Solutions, Inc. | 13,300 | 1,576,582 | |
| Ultra Clean Holdings, Inc. (a) | 144,944 | 3,004,689 | |
| Universal Display Corp. | 81,737 | 11,982,644 | |
| 216,679,344 | |||
| Software - 8.7% | |||
| 2U, Inc. (a)(b) | 926,544 | 33,791,060 | |
| ACI Worldwide, Inc. (a) | 688,282 | 18,982,818 | |
| Allot Ltd. (a) | 170,919 | 1,823,706 | |
| Anaplan, Inc. (a) | 114,906 | 5,276,484 | |
| ANSYS, Inc. (a) | 13,304 | 3,765,032 | |
| Aspen Technology, Inc. (a) | 182,813 | 19,312,365 | |
| Avalara, Inc. (a) | 56,253 | 6,022,446 | |
| Blackbaud, Inc. | 33,700 | 1,975,157 | |
| Box, Inc. Class A (a) | 102,500 | 2,047,950 | |
| CDK Global, Inc. | 497,205 | 19,545,129 | |
| ChannelAdvisor Corp. (a) | 329,440 | 4,595,688 | |
| Cloudera, Inc. (a)(b) | 782,394 | 8,019,539 | |
| CommVault Systems, Inc. (a) | 214,464 | 8,677,213 | |
| Cornerstone OnDemand, Inc. (a) | 97,608 | 3,772,549 | |
| Coupa Software, Inc. (a) | 76,410 | 17,384,039 | |
| Crowdstrike Holdings, Inc. | 72,645 | 6,378,957 | |
| Datadog, Inc. Class A (a) | 76,460 | 5,449,304 | |
| DocuSign, Inc. (a) | 102,270 | 14,291,210 | |
| Domo, Inc. Class B (a) | 215,483 | 5,456,030 | |
| Dynatrace, Inc. | 155,363 | 5,976,815 | |
| Ebix, Inc. (b) | 99,923 | 2,239,274 | |
| Elastic NV (a) | 17,500 | 1,503,600 | |
| Enghouse Systems Ltd. | 214,682 | 9,330,407 | |
| Everbridge, Inc. (a) | 71,667 | 10,482,015 | |
| Fair Isaac Corp. (a) | 37,800 | 15,220,170 | |
| FireEye, Inc. (a) | 990,626 | 12,363,012 | |
| Five9, Inc. (a) | 8,861 | 923,316 | |
| Guidewire Software, Inc. (a) | 107,008 | 10,976,881 | |
| HubSpot, Inc. (a) | 45,487 | 9,094,671 | |
| j2 Global, Inc. | 613,129 | 48,008,001 | |
| LivePerson, Inc. (a) | 144,838 | 5,424,183 | |
| LogMeIn, Inc. | 247,172 | 20,984,903 | |
| Manhattan Associates, Inc. (a) | 128,988 | 11,402,539 | |
| Microsoft Corp. | 25,950 | 4,755,338 | |
| Mimecast Ltd. (a) | 85,474 | 3,571,104 | |
| Model N, Inc. (a) | 102,058 | 3,278,103 | |
| New Relic, Inc. (a) | 185,403 | 12,264,408 | |
| Nortonlifelock, Inc. | 17,200 | 391,816 | |
| Nuance Communications, Inc. (a) | 995,303 | 22,772,533 | |
| Parametric Technology Corp. (a) | 33,800 | 2,581,644 | |
| Paycom Software, Inc. (a) | 34,387 | 10,220,848 | |
| Paylocity Holding Corp. (a) | 34,587 | 4,496,483 | |
| Pluralsight, Inc. (a)(b) | 1,415,721 | 29,489,468 | |
| Proofpoint, Inc. (a) | 150,936 | 17,549,329 | |
| Q2 Holdings, Inc. (a) | 160,002 | 13,219,365 | |
| Qualys, Inc. (a) | 97,365 | 11,228,132 | |
| Rapid7, Inc. (a) | 39,654 | 1,938,684 | |
| RealPage, Inc. (a) | 93,603 | 6,348,155 | |
| RingCentral, Inc. (a) | 94,460 | 25,905,655 | |
| Slack Technologies, Inc. Class A (a)(b) | 99,910 | 3,501,846 | |
| Smartsheet, Inc. (a) | 103,764 | 5,983,032 | |
| SolarWinds, Inc. (a)(b) | 1,378,153 | 25,206,418 | |
| Splunk, Inc. (a) | 95,508 | 17,749,207 | |
| Sprout Social, Inc. (a)(b) | 73,126 | 2,014,621 | |
| SS&C Technologies Holdings, Inc. | 518,045 | 29,992,215 | |
| Tenable Holdings, Inc. (a) | 33,300 | 1,041,291 | |
| The Trade Desk, Inc. (a)(b) | 45,894 | 14,298,735 | |
| Tyler Technologies, Inc. (a) | 47,890 | 17,973,596 | |
| Upland Software, Inc. (a) | 361,307 | 12,483,157 | |
| Verint Systems, Inc. (a) | 99,188 | 4,599,348 | |
| Workiva, Inc. (a) | 29,200 | 1,300,568 | |
| Zendesk, Inc. (a) | 57,340 | 4,916,905 | |
| Zix Corp. (a) | 658,471 | 4,424,925 | |
| Zoom Video Communications, Inc. Class A (a) | 24,804 | 4,451,822 | |
| 670,445,214 | |||
| Technology Hardware, Storage & Peripherals - 0.4% | |||
| NCR Corp. (a) | 685,055 | 12,365,243 | |
| Quantum Corp. (a) | 238,549 | 858,776 | |
| Seagate Technology LLC | 127,000 | 6,736,080 | |
| Western Digital Corp. | 86,210 | 3,825,138 | |
| Xerox Holdings Corp. | 343,551 | 5,455,590 | |
| 29,240,827 | |||
| TOTAL INFORMATION TECHNOLOGY | 1,425,698,000 | ||
| MATERIALS - 3.3% | |||
| Chemicals - 1.4% | |||
| Axalta Coating Systems Ltd. (a) | 380,036 | 8,782,632 | |
| Balchem Corp. | 9,500 | 956,175 | |
| Cabot Corp. | 95,800 | 3,421,976 | |
| Celanese Corp. Class A | 74,200 | 6,671,322 | |
| CF Industries Holdings, Inc. | 40,200 | 1,180,674 | |
| Chase Corp. | 6,999 | 697,450 | |
| Eastman Chemical Co. | 114,700 | 7,808,776 | |
| FMC Corp. | 90,759 | 8,931,593 | |
| Huntsman Corp. | 545,254 | 9,896,360 | |
| Ingevity Corp. (a) | 187,038 | 9,851,291 | |
| Innospec, Inc. | 42,130 | 3,247,802 | |
| Minerals Technologies, Inc. | 38,417 | 1,894,342 | |
| NewMarket Corp. | 7,124 | 3,106,990 | |
| Olin Corp. | 125,082 | 1,504,736 | |
| Orion Engineered Carbons SA | 616,736 | 6,821,100 | |
| PolyOne Corp. | 87,060 | 2,157,347 | |
| PQ Group Holdings, Inc. (a) | 274,423 | 3,444,009 | |
| Sensient Technologies Corp. | 40,823 | 2,046,049 | |
| Stepan Co. | 19,322 | 1,877,326 | |
| The Chemours Co. LLC | 315,683 | 4,138,604 | |
| The Mosaic Co. | 253,267 | 3,061,998 | |
| Trinseo SA | 260,971 | 5,370,783 | |
| Valvoline, Inc. | 435,274 | 7,987,278 | |
| Venator Materials PLC (a) | 242,645 | 317,865 | |
| Westlake Chemical Corp. | 78,878 | 3,762,481 | |
| 108,936,959 | |||
| Construction Materials - 0.0% | |||
| Eagle Materials, Inc. | 39,736 | 2,652,775 | |
| Summit Materials, Inc. (a) | 73,100 | 1,110,389 | |
| 3,763,164 | |||
| Containers & Packaging - 1.4% | |||
| Aptargroup, Inc. | 242,889 | 27,055,406 | |
| Avery Dennison Corp. | 14,884 | 1,647,212 | |
| CCL Industries, Inc. Class B | 396,673 | 13,365,044 | |
| Crown Holdings, Inc. (a) | 203,065 | 13,286,543 | |
| Graphic Packaging Holding Co. | 1,491,733 | 21,585,377 | |
| Greif, Inc. Class A | 141,300 | 4,801,374 | |
| O-I Glass, Inc. | 222,299 | 1,702,810 | |
| Packaging Corp. of America | 91,314 | 9,260,153 | |
| Sealed Air Corp. | 246,089 | 7,899,457 | |
| WestRock Co. | 155,117 | 4,352,583 | |
| 104,955,959 | |||
| Metals & Mining - 0.4% | |||
| Arconic Rolled Products Corp. (a) | 36,530 | 528,589 | |
| Carpenter Technology Corp. | 171,737 | 4,013,494 | |
| Cleveland-Cliffs, Inc. (b) | 330,900 | 1,727,298 | |
| Coeur d'Alene Mines Corp. (a) | 305,273 | 1,755,320 | |
| Ferroglobe Representation & Warranty Insurance (a)(d) | 495,885 | 5 | |
| Kaiser Aluminum Corp. | 12,094 | 867,745 | |
| Kinross Gold Corp. (a) | 472,197 | 3,092,890 | |
| Reliance Steel & Aluminum Co. | 117,202 | 11,368,594 | |
| Royal Gold, Inc. | 16,600 | 2,211,120 | |
| Steel Dynamics, Inc. | 140,600 | 3,734,336 | |
| Worthington Industries, Inc. | 35,607 | 1,065,361 | |
| 30,364,752 | |||
| Paper & Forest Products - 0.1% | |||
| Domtar Corp. | 79,600 | 1,623,840 | |
| Neenah, Inc. | 16,221 | 820,134 | |
| Schweitzer-Mauduit International, Inc. | 180,138 | 5,474,394 | |
| 7,918,368 | |||
| TOTAL MATERIALS | 255,939,202 | ||
| REAL ESTATE - 3.4% | |||
| Equity Real Estate Investment Trusts (REITs) - 3.3% | |||
| American Campus Communities, Inc. | 187,916 | 6,069,687 | |
| Americold Realty Trust | 191,688 | 6,845,178 | |
| Apartment Investment & Management Co. Class A | 54,700 | 2,016,789 | |
| Brandywine Realty Trust (SBI) | 338,200 | 3,263,630 | |
| Brixmor Property Group, Inc. | 313,300 | 3,496,428 | |
| Camden Property Trust (SBI) | 94,784 | 8,679,371 | |
| City Office REIT, Inc. | 182,900 | 1,697,312 | |
| CoreCivic, Inc. | 159,700 | 1,921,191 | |
| CorEnergy Infrastructure Trust, Inc. | 84,100 | 841,000 | |
| CoreSite Realty Corp. | 20,500 | 2,558,810 | |
| Cousins Properties, Inc. | 291,880 | 9,083,306 | |
| CubeSmart | 715,213 | 20,354,962 | |
| CyrusOne, Inc. | 21,400 | 1,590,876 | |
| DiamondRock Hospitality Co. | 394,700 | 2,364,253 | |
| Easterly Government Properties, Inc. | 229,175 | 5,745,417 | |
| EastGroup Properties, Inc. | 119,191 | 13,855,954 | |
| Empire State Realty Trust, Inc. | 136,000 | 901,680 | |
| Equity Commonwealth | 513,668 | 17,310,612 | |
| Franklin Street Properties Corp. | 275,093 | 1,468,997 | |
| Front Yard Residential Corp. Class B | 251,169 | 1,883,768 | |
| Gaming & Leisure Properties | 126,866 | 4,381,952 | |
| Global Net Lease, Inc. | 190,184 | 2,668,282 | |
| Government Properties Income Trust | 132,285 | 3,345,488 | |
| Healthcare Trust of America, Inc. | 78,700 | 2,083,189 | |
| Hospitality Properties Trust (SBI) | 254,722 | 1,719,374 | |
| Industrial Logistics Properties Trust | 136,179 | 2,553,356 | |
| iStar Financial, Inc. | 72,094 | 787,987 | |
| Lamar Advertising Co. Class A | 82,974 | 5,501,176 | |
| Medical Properties Trust, Inc. | 153,300 | 2,771,664 | |
| MGM Growth Properties LLC | 296,880 | 8,232,482 | |
| Mid-America Apartment Communities, Inc. | 118,877 | 13,832,528 | |
| National Retail Properties, Inc. | 353,189 | 11,086,603 | |
| Omega Healthcare Investors, Inc. | 205,100 | 6,386,814 | |
| Outfront Media, Inc. | 774,723 | 10,877,111 | |
| Paramount Group, Inc. | 408,700 | 3,151,077 | |
| Park Hotels & Resorts, Inc. | 279,576 | 2,748,232 | |
| Physicians Realty Trust | 360,400 | 6,224,108 | |
| Piedmont Office Realty Trust, Inc. Class A | 427,800 | 7,135,704 | |
| Preferred Apartment Communities, Inc. Class A | 193,740 | 1,354,243 | |
| Retail Value, Inc. | 38,179 | 442,495 | |
| Ryman Hospitality Properties, Inc. | 44,629 | 1,525,419 | |
| Sabra Health Care REIT, Inc. | 245,600 | 3,305,776 | |
| Senior Housing Properties Trust (SBI) | 596,834 | 2,136,666 | |
| SITE Centers Corp. | 357,750 | 2,028,443 | |
| SL Green Realty Corp. | 25,592 | 1,077,935 | |
| Spirit Realty Capital, Inc. | 50,497 | 1,435,630 | |
| Stag Industrial, Inc. | 295,639 | 7,952,689 | |
| Summit Hotel Properties, Inc. | 198,800 | 1,242,500 | |
| Sun Communities, Inc. | 44,545 | 6,111,129 | |
| Tanger Factory Outlet Centers, Inc. (b) | 210,900 | 1,297,035 | |
| The GEO Group, Inc. | 154,500 | 1,850,910 | |
| VEREIT, Inc. | 1,265,900 | 6,937,132 | |
| Vornado Realty Trust | 25,700 | 930,597 | |
| Washington Prime Group, Inc. (b) | 365,000 | 233,819 | |
| Weingarten Realty Investors (SBI) | 83,600 | 1,494,768 | |
| Xenia Hotels & Resorts, Inc. | 257,700 | 2,319,300 | |
| 251,112,834 | |||
| Real Estate Management & Development - 0.1% | |||
| Cushman & Wakefield PLC (a) | 854,646 | 8,760,122 | |
| Howard Hughes Corp. (a) | 18,800 | 952,220 | |
| Marcus & Millichap, Inc. (a) | 12,460 | 343,522 | |
| The RMR Group, Inc. | 6,061 | 163,405 | |
| 10,219,269 | |||
| TOTAL REAL ESTATE | 261,332,103 | ||
| UTILITIES - 1.3% | |||
| Electric Utilities - 0.5% | |||
| Alliant Energy Corp. | 179,173 | 8,843,979 | |
| Evergy, Inc. | 10,700 | 660,083 | |
| IDACORP, Inc. | 48,614 | 4,532,283 | |
| NRG Energy, Inc. | 201,800 | 7,274,890 | |
| PNM Resources, Inc. | 180,940 | 7,385,971 | |
| Portland General Electric Co. | 187,795 | 8,847,022 | |
| 37,544,228 | |||
| Gas Utilities - 0.3% | |||
| Atmos Energy Corp. | 93,840 | 9,644,875 | |
| National Fuel Gas Co. | 107,300 | 4,503,381 | |
| South Jersey Industries, Inc. | 57,000 | 1,616,520 | |
| Southwest Gas Holdings, Inc. | 57,468 | 4,364,695 | |
| 20,129,471 | |||
| Independent Power and Renewable Electricity Producers - 0.2% | |||
| The AES Corp. | 402,180 | 5,023,228 | |
| Vistra Energy Corp. | 547,243 | 11,185,647 | |
| 16,208,875 | |||
| Multi-Utilities - 0.3% | |||
| Black Hills Corp. | 85,776 | 5,293,237 | |
| CenterPoint Energy, Inc. | 94,270 | 1,676,121 | |
| CMS Energy Corp. | 40,860 | 2,393,579 | |
| MDU Resources Group, Inc. | 293,114 | 6,378,161 | |
| NorthWestern Energy Corp. | 144,057 | 8,660,707 | |
| 24,401,805 | |||
| TOTAL UTILITIES | 98,284,379 | ||
| TOTAL COMMON STOCKS | |||
| (Cost $5,886,240,358) | 6,574,397,537 | ||
| Preferred Stocks - 0.0% | |||
| Convertible Preferred Stocks - 0.0% | |||
| CONSUMER DISCRETIONARY - 0.0% | |||
| Internet & Direct Marketing Retail - 0.0% | |||
| The Honest Co., Inc. Series D (a)(d)(e) | 6,381 | 291,995 | |
| Nonconvertible Preferred Stocks - 0.0% | |||
| CONSUMER DISCRETIONARY - 0.0% | |||
| Internet & Direct Marketing Retail - 0.0% | |||
| Overstock.com, Inc. 1.0204% | 13,245 | 132,450 | |
| TOTAL PREFERRED STOCKS | |||
| (Cost $456,233) | 424,445 | ||
| Equity Funds - 12.2% | |||
| Mid-Cap Blend Funds - 0.2% | |||
| Fidelity SAI Small-Mid Cap 500 Index Fund (f) | 1,725,623 | 19,585,824 | |
| Sector Funds - 0.1% | |||
| Fidelity SAI Real Estate Index Fund (f) | 510,553 | 4,697,086 | |
| Small Blend Funds - 11.3% | |||
| Fidelity Small Cap Discovery Fund (f) | 1,203,652 | 22,038,866 | |
| Fidelity Small Cap Index Fund (f) | 28,469,787 | 503,345,812 | |
| PIMCO StocksPLUS Small Fund Institutional Class | 39,737,421 | 319,886,243 | |
| Vulcan Value Partners Small Cap Fund Institutional Class | 1,717,122 | 21,515,535 | |
| TOTAL SMALL BLEND FUNDS | 866,786,456 | ||
| Small Growth Funds - 0.3% | |||
| Fidelity Small Cap Growth Fund (f) | 832,652 | 21,798,836 | |
| Small Value Funds - 0.3% | |||
| Royce Opportunity Fund Institutional Class | 2,183,384 | 21,921,176 | |
| TOTAL EQUITY FUNDS | |||
| (Cost $880,932,747) | 934,789,378 | ||
| Money Market Funds - 4.6% | |||
| Fidelity Cash Central Fund 0.11% (g) | 4,271,685 | 4,272,540 | |
| Fidelity Securities Lending Cash Central Fund 0.10% (g)(h) | 180,863,100 | 180,881,186 | |
| State Street Institutional U.S. Government Money Market Fund Premier Class .12% (i) | 170,891,345 | 170,891,345 | |
| TOTAL MONEY MARKET FUNDS | |||
| (Cost $356,045,071) | 356,045,071 | ||
| TOTAL INVESTMENT IN SECURITIES - 102.5% | |||
| (Cost $7,123,674,409) | 7,865,656,431 | ||
| NET OTHER ASSETS (LIABILITIES) - (2.5)%(j) | (192,452,008) | ||
| NET ASSETS - 100% | $7,673,204,423 |
| Futures Contracts | |||||
| Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
| Purchased | |||||
| Equity Index Contracts | |||||
| CME E-mini Russell 2000 Index Contracts (United States) | 7 | June 2020 | $487,480 | $57,782 | $57,782 |
| CME E-mini S&P MidCap 400 Index Contracts (United States) | 5 | June 2020 | 881,150 | 132,235 | 132,235 |
| TOTAL FUTURES CONTRACTS | $190,017 |
The notional amount of futures purchased as a percentage of Net Assets is 0.0%
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $8,698,255 or 0.1% of net assets.
(d) Level 3 security
(e) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $291,995 or 0.0% of net assets.
(f) Affiliated Fund
(g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(h) Investment made with cash collateral received from securities on loan.
(i) The rate quoted is the annualized seven-day yield of the fund at period end.
(j) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $107,000.
Additional information on each restricted holding is as follows:
| Security | Acquisition Date | Acquisition Cost |
| The Honest Co., Inc. Series D | 9/25/15 | $257,662 |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
| Fund | Income earned |
| Fidelity Cash Central Fund | $4,288 |
| Fidelity Securities Lending Cash Central Fund | 396,684 |
| Total | $400,972 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
| Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
| Fidelity SAI Real Estate Index Fund | $99,990,120 | $90,654 | $75,000,000 | $90,653 | $(24,345,102) | $3,961,414 | $4,697,086 |
| Fidelity SAI Small-Mid Cap 500 Index Fund | 109,403,255 | 240,423,246 | 331,854,742 | -- | (5,125,213) | 6,739,278 | 19,585,824 |
| Fidelity Small Cap Discovery Fund | -- | 20,000,000 | -- | -- | -- | 2,038,866 | 22,038,866 |
| Fidelity Small Cap Growth Fund | -- | 20,000,000 | -- | -- | -- | 1,798,836 | 21,798,836 |
| Fidelity Small Cap Index Fund | 107,434,853 | 535,422,980 | 96,536,118 | -- | (28,085,029) | (14,890,874) | 503,345,812 |
| 316,828,228 | 815,936,880 | 503,390,860 | 90,653 | (57,555,344) | (352,480) | 571,466,424 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
If an unaffiliated Underlying Fund's net asset value is unavailable, shares of that fund may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and is categorized as Level 2 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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