|
Shares
|
Description
|
Value (†)
|
|
Common Stocks— 96.5% of Net Assets
|
||
|
|
Aerospace & Defense — 5.6%
|
|
|
9,851
|
Axon Enterprise, Inc.(a)
|
$2,544,809
|
|
20,724
|
BWX Technologies, Inc.
|
1,590,152
|
|
11,177
|
HEICO Corp.
|
1,999,230
|
|
29,953
|
Hexcel Corp.
|
2,209,034
|
|
|
|
8,343,225
|
|
|
Automobile Components — 1.3%
|
|
|
57,735
|
Gentex Corp.
|
1,885,625
|
|
|
Banks — 1.0%
|
|
|
28,069
|
Axos Financial, Inc.(a)
|
1,532,567
|
|
|
Biotechnology — 7.9%
|
|
|
25,466
|
Exact Sciences Corp.(a)
|
1,883,975
|
|
54,797
|
Insmed, Inc.(a)
|
1,698,159
|
|
39,645
|
Natera, Inc.(a)
|
2,483,363
|
|
17,179
|
Neurocrine Biosciences, Inc.(a)
|
2,263,505
|
|
132,793
|
Roivant Sciences Ltd.(a)
|
1,491,265
|
|
9,053
|
United Therapeutics Corp.(a)
|
1,990,664
|
|
|
|
11,810,931
|
|
|
Building Products — 1.7%
|
|
|
64,153
|
AZEK Co., Inc.(a)
|
2,453,852
|
|
|
Capital Markets — 3.5%
|
|
|
23,263
|
Hamilton Lane, Inc., Class A
|
2,638,955
|
|
27,989
|
Jefferies Financial Group, Inc.
|
1,131,036
|
|
43,716
|
StepStone Group, Inc., Class A
|
1,391,480
|
|
|
|
5,161,471
|
|
|
Commercial Services & Supplies — 3.2%
|
|
|
26,366
|
Cimpress PLC(a)
|
2,110,598
|
|
15,886
|
Tetra Tech, Inc.
|
2,651,850
|
|
|
|
4,762,448
|
|
|
Communications Equipment — 1.3%
|
|
|
43,420
|
Ciena Corp.(a)
|
1,954,334
|
|
|
Construction & Engineering — 1.3%
|
|
|
42,138
|
WillScot Mobile Mini Holdings Corp.(a)
|
1,875,141
|
|
|
Consumer Staples Distribution & Retail — 3.2%
|
|
|
14,130
|
BJ's Wholesale Club Holdings, Inc.(a)
|
941,906
|
|
6,866
|
Casey's General Stores, Inc.
|
1,886,365
|
|
27,830
|
Performance Food Group Co.(a)
|
1,924,444
|
|
|
|
4,752,715
|
|
|
Diversified Consumer Services — 1.0%
|
|
|
102,936
|
Laureate Education, Inc.
|
1,411,253
|
|
|
Electronic Equipment, Instruments & Components — 3.6%
|
|
|
21,011
|
Advanced Energy Industries, Inc.
|
2,288,518
|
|
11,378
|
IPG Photonics Corp.(a)
|
1,234,968
|
|
33,370
|
Trimble, Inc.(a)
|
1,775,284
|
|
|
|
5,298,770
|
|
|
Energy Equipment & Services — 2.6%
|
|
|
61,614
|
ChampionX Corp.
|
1,799,745
|
|
100,493
|
NOV, Inc.
|
2,037,998
|
|
|
|
3,837,743
|
|
|
Financial Services — 2.1%
|
|
|
46,015
|
Remitly Global, Inc.(a)
|
893,611
|
|
11,160
|
WEX, Inc.(a)
|
2,171,178
|
|
|
|
3,064,789
|
|
|
Food Products — 2.2%
|
|
|
16,334
|
Freshpet, Inc.(a)
|
1,417,138
|
|
48,586
|
Simply Good Foods Co.(a)
|
1,924,005
|
|
|
|
3,341,143
|
|
|
Health Care Equipment & Supplies — 7.2%
|
|
|
32,721
|
Axonics, Inc.(a)
|
2,036,228
|
|
Shares
|
Description
|
Value (†)
|
|
|
Health Care Equipment & Supplies — continued
|
|
|
21,427
|
CONMED Corp.
|
$2,346,471
|
|
23,774
|
LivaNova PLC(a)
|
1,230,067
|
|
20,932
|
Merit Medical Systems, Inc.(a)
|
1,589,994
|
|
49,704
|
Paragon 28, Inc.(a)
|
617,821
|
|
5,828
|
Penumbra, Inc.(a)
|
1,465,975
|
|
32,683
|
PROCEPT BioRobotics Corp.(a)
|
1,369,744
|
|
|
|
10,656,300
|
|
|
Health Care Providers & Services — 3.2%
|
|
|
21,954
|
Acadia Healthcare Co., Inc.(a)
|
1,707,143
|
|
26,728
|
HealthEquity, Inc.(a)
|
1,772,066
|
|
56,250
|
Privia Health Group, Inc.(a)
|
1,295,438
|
|
|
|
4,774,647
|
|
|
Health Care Technology — 1.0%
|
|
|
45,856
|
Evolent Health, Inc., Class A(a)
|
1,514,624
|
|
|
Hotels, Restaurants & Leisure — 4.6%
|
|
|
16,015
|
Churchill Downs, Inc.
|
2,160,904
|
|
28,436
|
Light & Wonder, Inc.(a)
|
2,334,880
|
|
18,840
|
Texas Roadhouse, Inc.
|
2,302,813
|
|
|
|
6,798,597
|
|
|
Insurance — 2.0%
|
|
|
4,269
|
Kinsale Capital Group, Inc.
|
1,429,731
|
|
9,947
|
Reinsurance Group of America, Inc.
|
1,609,225
|
|
|
|
3,038,956
|
|
|
Interactive Media & Services — 0.7%
|
|
|
23,352
|
Yelp, Inc.(a)
|
1,105,484
|
|
|
IT Services — 1.4%
|
|
|
8,606
|
Globant SA(a)
|
2,048,056
|
|
|
Machinery — 4.5%
|
|
|
13,380
|
Ingersoll Rand, Inc.
|
1,034,809
|
|
14,912
|
ITT, Inc.
|
1,779,300
|
|
10,746
|
Middleby Corp.(a)
|
1,581,489
|
|
7,951
|
RBC Bearings, Inc.(a)
|
2,265,160
|
|
|
|
6,660,758
|
|
|
Metals & Mining — 1.5%
|
|
|
48,187
|
ATI, Inc.(a)
|
2,191,063
|
|
|
Oil, Gas & Consumable Fuels — 3.5%
|
|
|
10,729
|
Chord Energy Corp.
|
1,783,482
|
|
80,806
|
Magnolia Oil & Gas Corp., Class A
|
1,720,360
|
|
29,426
|
Matador Resources Co.
|
1,673,162
|
|
|
|
5,177,004
|
|
|
Professional Services — 3.9%
|
|
|
9,931
|
FTI Consulting, Inc.(a)
|
1,977,759
|
|
33,194
|
KBR, Inc.
|
1,839,279
|
|
31,263
|
Parsons Corp.(a)
|
1,960,503
|
|
|
|
5,777,541
|
|
|
Semiconductors & Semiconductor Equipment — 5.2%
|
|
|
2,730
|
Monolithic Power Systems, Inc.
|
1,722,029
|
|
18,314
|
Nova Ltd.(a)
|
2,516,161
|
|
24,110
|
Power Integrations, Inc.
|
1,979,672
|
|
11,911
|
Silicon Laboratories, Inc.(a)
|
1,575,468
|
|
|
|
7,793,330
|
|
|
Software — 8.3%
|
|
|
76,623
|
Clearwater Analytics Holdings, Inc., Class A(a)
|
1,534,759
|
|
14,832
|
CyberArk Software Ltd.(a)
|
3,248,949
|
|
55,228
|
DoubleVerify Holdings, Inc.(a)
|
2,031,286
|
|
59,471
|
PowerSchool Holdings, Inc., Class A(a)
|
1,401,137
|
|
5,254
|
Tyler Technologies, Inc.(a)
|
2,196,802
|
|
18,905
|
Workiva, Inc.(a)
|
1,919,425
|
|
|
|
12,332,358
|
|
Shares
|
Description
|
Value (†)
|
|
|
Specialty Retail — 1.4%
|
|
|
9,979
|
Five Below, Inc.(a)
|
$2,127,124
|
|
|
Technology Hardware, Storage & Peripherals — 1.5%
|
|
|
63,978
|
Pure Storage, Inc., Class A(a)
|
2,281,456
|
|
|
Textiles, Apparel & Luxury Goods — 3.7%
|
|
|
17,132
|
Columbia Sportswear Co.
|
1,362,679
|
|
2,874
|
Deckers Outdoor Corp.(a)
|
1,921,068
|
|
34,711
|
Skechers USA, Inc., Class A(a)
|
2,163,884
|
|
|
|
5,447,631
|
|
|
Trading Companies & Distributors — 1.4%
|
|
|
12,773
|
SiteOne Landscape Supply, Inc.(a)
|
2,075,613
|
|
|
Total Common Stocks
(Identified Cost $128,461,842)
|
143,286,549
|
|
Principal
Amount
|
Description
|
Value (†)
|
|
Short-Term Investments — 3.5%
|
||
|
$5,247,717
|
Tri-Party Repurchase Agreement with Fixed Income
Clearing Corporation, dated 12/29/2023 at 2.500% to
be repurchased at $5,249,175 on 1/02/2024
collateralized by $5,257,500 U.S. Treasury Note,
4.125% due 9/30/2027 valued at $5,352,725 including
accrued interest(b)
(Identified Cost $5,247,717)
|
$5,247,717
|
|
|
Total Investments — 100.0%
(Identified Cost $133,709,559)
|
148,534,266
|
|
|
Other assets less liabilities — 0.0%
|
34,511
|
|
|
Net Assets — 100.0%
|
$148,568,777
|
|
(†)
|
Registered investment companies are required to value portfolio investments using an unadjusted, readily available market
quotation. The Fund obtains
readily available market quotations from independent pricing services. Fund investments for which readily available market
quotations are not available
are priced at fair value pursuant to the Fund's Valuation Procedures. The Board of Trustees has approved a valuation designee
who is subject to the
Board's oversight.
Unadjusted readily available market quotations that are utilized for exchange traded equity securities (including shares of
closed-end investment
companies and exchange-traded funds) include the last sale price quoted on the exchange where the security is traded most
extensively. Shares of
open-end investment companies are valued at net asset value ("NAV") per share.
Exchange traded equity securities for which there is no reported sale during the day are fair valued at the closing bid quotation
as reported by an
independent pricing service. Unlisted equity securities (except unlisted preferred equity securities) are fair valued at the
last sale price quoted in the
market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as
reported by an independent
pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be fair
valued using evaluated bids furnished
by an independent pricing service, if available.
Debt securities and unlisted preferred equity securities are fair valued based on evaluated bids furnished to the Fund by
an independent pricing service
or bid prices obtained from broker-dealers. Broker-dealer bid prices may be used to fair value debt and unlisted equities
where an independent pricing
service is unable to price an investment or where an independent pricing service does not provide a reliable price for the
investment.
The Fund may also fair value investments in other circumstances such as when extraordinary events occur after the close of
a foreign market, but prior
to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration
of bankruptcy or a delisting of
the issuer's security from the primary market on which it has traded) as well as events affecting the securities markets in
general (such as market
disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing a Fund's investments,
the valuation designee may,
among other things, use modeling tools or other processes that may take into account factors such as issuer specific information,
or other related market
activity and/or information that occurred after the close of the foreign market but before the time the Fund's NAV is calculated.
Fair valuation by the
Fund's valuation designee may require subjective determinations about the value of the investment, and fair values used to
determine a Fund's NAV may
differ from quoted or published prices, or from prices that are used by others, for the same investments. In addition, the
use of fair value pricing may not
always result in adjustments to the prices of investments held by a Fund.
The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and
liabilities denominated in
currencies other than U.S. dollars, if any, are translated into U.S. dollars based upon foreign exchange rates prevailing
at the end of the period.
|
|
(a)
|
Non-income producing security.
|
|
(b)
|
The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires
securities as
collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund's policy
that the market value of the
collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase
agreements are tri-party
arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty.
Repurchase
agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays
or restrictions upon the Fund's
ability to dispose of the underlying securities. As of December 31, 2023, the Fund had an investment in a repurchase agreement
for which the value of the
related collateral exceeded the value of the repurchase agreement.
|
|
Asset Valuation Inputs
|
||||
|
Description
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Common Stocks(a)
|
$143,286,549
|
$—
|
$—
|
$143,286,549
|
|
Short-Term Investments
|
—
|
5,247,717
|
—
|
5,247,717
|
|
Total Investments
|
$143,286,549
|
$5,247,717
|
$—
|
$148,534,266
|
|
(a)
|
Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments.
|
|
Industry Summary at December 31, 2023 (Unaudited)
|
|
|
Software
|
8.3%
|
|
Biotechnology
|
7.9
|
|
Health Care Equipment & Supplies
|
7.2
|
|
Aerospace & Defense
|
5.6
|
|
Semiconductors & Semiconductor Equipment
|
5.2
|
|
Hotels, Restaurants & Leisure
|
4.6
|
|
Machinery
|
4.5
|
|
Professional Services
|
3.9
|
|
Textiles, Apparel & Luxury Goods
|
3.7
|
|
Electronic Equipment, Instruments & Components
|
3.6
|
|
Oil, Gas & Consumable Fuels
|
3.5
|
|
Capital Markets
|
3.5
|
|
Health Care Providers & Services
|
3.2
|
|
Commercial Services & Supplies
|
3.2
|
|
Consumer Staples Distribution & Retail
|
3.2
|
|
Energy Equipment & Services
|
2.6
|
|
Food Products
|
2.2
|
|
Financial Services
|
2.1
|
|
Insurance
|
2.0
|
|
Other Investments, less than 2% each
|
16.5
|
|
Short-Term Investments
|
3.5
|
|
Total Investments
|
100.0
|
|
Other assets less liabilities
|
0.0*
|
|
Net Assets
|
100.0%
|
|
*
|
Less than 0.1%
|