BAILLIE GIFFORD & CO Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MDLN	Medline Inc	10,410,371	$437,236	0.4%	$42.23	0.0%	COM CL A	58507V107
UTHR	United Therapeutics	323,016	$157,390	0.1%	$465.69	0.0%	COM	91307C102
MDB	MongoDB Inc	267,331	$112,196	0.1%	$363.83	0.0%	COM	60937P106
BLLN	BillionToOne Inc	1,268,163	$103,786	0.1%	$101.40	0.0%	CL A	090168105
SVM	Silvercorp Metals Inc	4,221,271	$35,248	0.0%	$7.26	0.0%	COM	82835P103
UPST	Upstart Holdings	758,929	$33,188	0.0%	$46.04	0.0%	COM	91680M107
ZTS	Zoetis Inc	150,845	$18,979	0.0%	$130.26	0.0%	CL A	98978V103
PI	Impinj	102,753	$17,880	0.0%	$178.15	0.0%	COM	453204109
RVMD	Revolution Medicines	194,959	$15,528	0.0%	$65.57	0.0%	COM	76155X100
ODFL	Old Dominion Freight Line	84,962	$13,322	0.0%	$143.18	0.0%	COM	679580100
BRO	Brown & Brown	166,161	$13,243	0.0%	$83.36	0.0%	COM	115236101
EH	Ehang Holdings Ltd ADR	774,166	$10,204	0.0%	$13.18	—	ADS	26853E102
STOK	Stoke Therapeutics	246,900	$7,837	0.0%	$30.06	0.0%	COM	86150R107
ATAT	Atour Lifestyle Hdgs ADR	176,975	$6,973	0.0%	$39.40	—	SPON ADR	04965M106
SONY	Sony ADR	1,551	$40	0.0%	$25.60	—	COM	835699307
PL	Planet Labs	1,637	$32	0.0%	$14.34	0.0%	COM CL A	72703X106
UL	Unilever Spn.Adr 1:1	405	$26	0.0%	$65.40	—	SPON ADR NEW	904767803
LNN	Lindsay Manufacturing Co	137	$16	0.0%	$119.83	0.0%	COM	535555106
YMM	Full Truck Alliance Co Ltd ADR	1,158	$12	0.0%	$10.73	—	SPONS ADS	35969L108
MICC	The Magnum Ice Cream Company (US)	677	$11	0.0%	$15.68	0.0%	ORD SHS	N5505D105
AXIA	AXIA ENERGIA-ADR PREF	264	$2	0.0%	$9.16	—	ADR	15234Q207
AXIA/PC	Axia Energia- ADR Pref C	69	$1	0.0%	$8.62	—	SPON ADS PF CL C	15236F100

Increased Positions (65)

NFLX Netflix Inc 2.9%

Value ($000) $3,463,498 (-20.8%) Shares 36,940,035 (+912.3%) Est. Cost $98.92 Unrealized +9.0%

AXON Axon Enterprise Inc 0.8%

Value ($000) $932,869 (+927.8%) Shares 1,642,578 (+1198.7%) Est. Cost $578.06 Unrealized +7.3%

MELI MercadoLibre 5.8%

Value ($000) $7,012,773 (-9.5%) Shares 3,481,563 (+4.9%) Est. Cost $496.27 Unrealized +323.2%

RKLB Rocket Lab Corp 1.0%

Value ($000) $1,245,317 (+114.4%) Shares 17,851,446 (+47.2%) Est. Cost $44.06 Unrealized +30.1%

GOOG Alphabet Inc Class C 1.0%

Value ($000) $1,177,044 (+66.3%) Shares 3,750,936 (+29.0%) Est. Cost $147.30 Unrealized +94.4%

GOOGL Alphabet Inc Class A 0.5%

Value ($000) $596,984 (+243.4%) Shares 1,907,296 (+166.7%) Est. Cost $219.30 Unrealized +30.2%

ENSG The Ensign Group 0.7%

Value ($000) $795,964 (+63.5%) Shares 4,569,254 (+62.1%) Est. Cost $161.46 Unrealized +11.2%

QXO QXO 0.2%

Value ($000) $284,241 (+16313.3%) Shares 14,735,164 (+16117.6%) Est. Cost $19.17 Unrealized -0.0%

NU Nu Holdings Ltd. 3.6%

Value ($000) $4,306,481 (+7.0%) Shares 257,256,952 (+2.3%) Est. Cost $9.21 Unrealized +74.4%

TMO Thermo Fisher Scientific 0.4%

Value ($000) $446,679 (+87.5%) Shares 770,868 (+56.9%) Est. Cost $332.75 Unrealized +69.8%

CSGP CoStar Group 0.7%

Value ($000) $869,627 (+25.1%) Shares 12,933,185 (+56.9%) Est. Cost $79.21 Unrealized -10.6%

IOT Samsara 1.4%

Value ($000) $1,689,565 (+9.4%) Shares 47,660,513 (+15.0%) Est. Cost $30.01 Unrealized +29.0%

DG Dollar General Corp 0.4%

Value ($000) $440,286 (+31.2%) Shares 3,316,155 (+2.1%) Est. Cost $98.40 Unrealized +13.3%

MSCI MSCI 0.4%

Value ($000) $485,860 (+23.8%) Shares 846,844 (+22.5%) Est. Cost $556.39 Unrealized +0.6%

ODD Oddity 0.2%

Value ($000) $286,188 (-24.0%) Shares 7,122,641 (+17.8%) Est. Cost $42.94 Unrealized +5.3%

YETI YETI Holdings 0.1%

Value ($000) $174,259 (+100.8%) Shares 3,945,196 (+50.9%) Est. Cost $41.15 Unrealized -6.5%

TEAM Atlassian Corp Plc 1.1%

Value ($000) $1,367,132 (+5.5%) Shares 8,431,802 (+3.9%) Est. Cost $210.92 Unrealized -25.6%

FIG Figma Inc 0.2%

Value ($000) $215,386 (+39.6%) Shares 5,763,613 (+93.8%) Est. Cost $57.30 Unrealized -21.1%

DUOL Duolingo Inc 0.7%

Value ($000) $853,184 (-6.3%) Shares 4,861,445 (+71.9%) Est. Cost $196.37 Unrealized +20.0%

MMYT MakeMyTrip 0.4%

Value ($000) $423,332 (-10.3%) Shares 5,155,036 (+2.3%) Est. Cost $69.16 Unrealized +18.6%

BABA Alibaba Group Holding Sponsored ADR 0.1%

Value ($000) $108,523 (+63.4%) Shares 740,365 (+99.2%) Est. Cost $162.72 Unrealized —

AMSC American Superconductor Corp 0.0%

Value ($000) $43,367 (-48.8%) Shares 1,506,841 (+5.6%) Est. Cost $15.82 Unrealized +173.3%

JKHY Jack Henry & Associates 0.1%

Value ($000) $90,620 (+80.8%) Shares 496,603 (+47.6%) Est. Cost $172.84 Unrealized -3.8%

ACN Accenture 'A' 0.1%

Value ($000) $91,911 (+62.6%) Shares 342,567 (+49.4%) Est. Cost $286.73 Unrealized -11.4%

DNLI Denali Therapeutics 0.2%

Value ($000) $203,253 (+20.8%) Shares 12,310,889 (+6.2%) Est. Cost $31.53 Unrealized -46.5%

BBD Banco Bradesco Pn ADR 0.1%

Value ($000) $127,457 (+34.8%) Shares 38,275,506 (+36.8%) Est. Cost $5.63 Unrealized —

RELY Remitly Global Inc 0.1%

Value ($000) $160,888 (+25.4%) Shares 11,658,558 (+48.2%) Est. Cost $16.30 Unrealized -10.9%

MNDY monday.com 0.1%

Value ($000) $106,783 (-22.2%) Shares 723,655 (+2.2%) Est. Cost $221.50 Unrealized -24.0%

COUR Coursera Inc 0.1%

Value ($000) $107,389 (+23.8%) Shares 14,590,942 (+97.0%) Est. Cost $20.57 Unrealized -57.7%

TFII TFI International 0.1%

Value ($000) $106,590 (+18.8%) Shares 1,029,871 (+1.0%) Est. Cost $141.84 Unrealized -34.4%

TNDM Tandem Diabetes Care 0.0%

Value ($000) $25,178 (+85.1%) Shares 1,145,516 (+2.2%) Est. Cost $31.01 Unrealized -41.8%

BSY Bentley Systems 0.0%

Value ($000) $11,384 (+40476.1%) Shares 298,295 (+54633.0%) Est. Cost $45.54 Unrealized -0.0%

COIN Coinbase Global Inc 0.2%

Value ($000) $187,488 (-5.4%) Shares 829,081 (+41.1%) Est. Cost $327.09 Unrealized -8.9%

KRNT Kornit Digital 0.0%

Value ($000) $22,506 (+72.2%) Shares 1,565,079 (+61.7%) Est. Cost $17.55 Unrealized -22.0%

TMDX TransMedics Group 0.0%

Value ($000) $38,499 (+31.6%) Shares 316,473 (+21.4%) Est. Cost $72.50 Unrealized +73.1%

BN Brookfield Corp 0.3%

Value ($000) $321,857 (-2.7%) Shares 7,013,657 (+45.4%) Est. Cost $39.22 Unrealized +16.1%

MNST Monster Beverage 0.0%

Value ($000) $29,860 (+34.9%) Shares 389,458 (+18.5%) Est. Cost $55.15 Unrealized +29.9%

XMTR Xometry Inc - A 0.1%

Value ($000) $77,677 (+11.0%) Shares 1,306,151 (+1.6%) Est. Cost $29.22 Unrealized +92.9%

DLR Digital Realty Trust REIT 0.0%

Value ($000) $6,272 (+460.4%) Shares 40,541 (+526.2%) Est. Cost $157.33 Unrealized +3.7%

TWST Twist Bioscience Corp 0.0%

Value ($000) $40,481 (+13.9%) Shares 1,276,195 (+1.1%) Est. Cost $33.88 Unrealized -7.9%

DOC Healthpeak Properties Inc REIT 0.0%

Value ($000) $5,905 (+498.9%) Shares 367,256 (+613.2%) Est. Cost $17.38 Unrealized +0.5%

BEAM Beam Therapeutics 0.0%

Value ($000) $11,538 (+59.6%) Shares 416,224 (+39.8%) Est. Cost $37.62 Unrealized -32.2%

DLO dLocal 0.0%

Value ($000) $42,373 (+11.1%) Shares 2,996,660 (+12.2%) Est. Cost $15.89 Unrealized -11.2%

UTI Universal Technical Institute 0.0%

Value ($000) $15,543 (-17.8%) Shares 594,823 (+2.4%) Est. Cost $29.36 Unrealized -3.6%

ALAB Astera Labs 0.0%

Value ($000) $42,075 (-6.9%) Shares 252,913 (+9.6%) Est. Cost $86.73 Unrealized +92.9%

AMPL Amplitude 0.0%

Value ($000) $31,751 (+10.4%) Shares 2,741,880 (+2.2%) Est. Cost $11.80 Unrealized -10.8%

EQT Eqt Corp 0.0%

Value ($000) $17,905 (+19.3%) Shares 334,040 (+21.2%) Est. Cost $53.23 Unrealized +5.4%

BZ Kanzhun ADR 0.2%

Value ($000) $202,895 (+1.4%) Shares 9,955,584 (+16.2%) Est. Cost $21.60 Unrealized —

KTOS Kratos Defense & Security 0.0%

Value ($000) $21,449 (+12.6%) Shares 282,562 (+35.5%) Est. Cost $68.71 Unrealized +19.1%

PM Philip Morris Intl 0.0%

Value ($000) $4,931 (+57.5%) Shares 30,741 (+59.3%) Est. Cost $139.67 Unrealized +10.0%

— Cable One Convertible 1.125 2028 0.0%

Value ($000) $7,733 (+22.5%) Shares 9,435,000 (+28.0%) Est. Cost $0.80 Unrealized —

PRCT PROCEPT BioRobotics 0.0%

Value ($000) $31,963 (+4.3%) Shares 1,015,978 (+18.3%) Est. Cost $56.48 Unrealized -41.3%

SO Southern 0.0%

Value ($000) $13,483 (-6.9%) Shares 154,618 (+1.2%) Est. Cost $88.76 Unrealized +2.4%

Z Zillow Group Inc Class C 0.0%

Value ($000) $50,433 (-1.4%) Shares 739,270 (+11.4%) Est. Cost $54.35 Unrealized +33.2%

CNP Centerpoint Energy, Inc. 0.0%

Value ($000) $15,368 (+4.1%) Shares 400,829 (+5.4%) Est. Cost $35.99 Unrealized +8.0%

HD Home Depot 0.0%

Value ($000) $51,947 (-0.8%) Shares 150,964 (+16.8%) Est. Cost $337.96 Unrealized +7.9%

MRSH Marsh & McLennan 0.0%

Value ($000) $16,171 (-2.6%) Shares 87,167 (+5.8%) Est. Cost $215.41 Unrealized -13.5%

TER Teradyne 0.0%

Value ($000) $66 (+53.7%) Shares 341 (+9.3%) Est. Cost $39.00 Unrealized +339.8%

RIO Rio Tinto Spn.Adr 1:1 0.0%

Value ($000) $42 (+83.1%) Shares 524 (+51.0%) Est. Cost $70.93 Unrealized —

NXT Nextracker 0.0%

Value ($000) $37 (+107.8%) Shares 420 (+76.5%) Est. Cost $75.80 Unrealized +19.6%

HUBB Hubbell 0.0%

Value ($000) $31 (+68.0%) Shares 70 (+62.8%) Est. Cost $403.67 Unrealized +8.3%

EQR Equity Residential REIT 0.0%

Value ($000) $7,447 (-0.1%) Shares 118,133 (+2.6%) Est. Cost $63.06 Unrealized -3.8%

CRH CRH Plc 0.0%

Value ($000) $64 (+13.0%) Shares 509 (+8.5%) Est. Cost $88.42 Unrealized +34.7%

NVO Novo Nordisk 'B' Adr 1:1 0.0%

Value ($000) $22 (+27.6%) Shares 437 (+39.2%) Est. Cost $63.92 Unrealized —

VEEV Veeva Systems Inc Class A 0.0%

Value ($000) $11 (-12.6%) Shares 49 (+16.7%) Est. Cost $253.15 Unrealized +4.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	Netflix Inc	36,940,035 (+912.3%)	$3,463,498 (-20.8%)	2.9%	$98.92	+9.0%	COM	64110L106
AXON	Axon Enterprise Inc	1,642,578 (+1198.7%)	$932,869 (+927.8%)	0.8%	$578.06	+7.3%	COM	05464C101
MELI	MercadoLibre	3,481,563 (+4.9%)	$7,012,773 (-9.5%)	5.8%	$496.27	+323.2%	COM	58733R102
RKLB	Rocket Lab Corp	17,851,446 (+47.2%)	$1,245,317 (+114.4%)	1.0%	$44.06	+30.1%	COM	773121108
GOOG	Alphabet Inc Class C	3,750,936 (+29.0%)	$1,177,044 (+66.3%)	1.0%	$147.30	+94.4%	CAP STK CL C	02079K107
GOOGL	Alphabet Inc Class A	1,907,296 (+166.7%)	$596,984 (+243.4%)	0.5%	$219.30	+30.2%	CAP STK CL A	02079K305
ENSG	The Ensign Group	4,569,254 (+62.1%)	$795,964 (+63.5%)	0.7%	$161.46	+11.2%	COM	29358P101
QXO	QXO	14,735,164 (+16117.6%)	$284,241 (+16313.3%)	0.2%	$19.17	-0.0%	COM NEW	82846H405
NU	Nu Holdings Ltd.	257,256,952 (+2.3%)	$4,306,481 (+7.0%)	3.6%	$9.21	+74.4%	ORD SHS CL A	G6683N103
TMO	Thermo Fisher Scientific	770,868 (+56.9%)	$446,679 (+87.5%)	0.4%	$332.75	+69.8%	COM	883556102
CSGP	CoStar Group	12,933,185 (+56.9%)	$869,627 (+25.1%)	0.7%	$79.21	-10.6%	COM	22160N109
IOT	Samsara	47,660,513 (+15.0%)	$1,689,565 (+9.4%)	1.4%	$30.01	+29.0%	COM CL A	79589L106
DG	Dollar General Corp	3,316,155 (+2.1%)	$440,286 (+31.2%)	0.4%	$98.40	+13.3%	COM	256677105
MSCI	MSCI	846,844 (+22.5%)	$485,860 (+23.8%)	0.4%	$556.39	+0.6%	COM	55354G100
ODD	Oddity	7,122,641 (+17.8%)	$286,188 (-24.0%)	0.2%	$42.94	+5.3%	SHS CLASS A	M7518J104
YETI	YETI Holdings	3,945,196 (+50.9%)	$174,259 (+100.8%)	0.1%	$41.15	-6.5%	COM	98585X104
TEAM	Atlassian Corp Plc	8,431,802 (+3.9%)	$1,367,132 (+5.5%)	1.1%	$210.92	-25.6%	CL A	049468101
FIG	Figma Inc	5,763,613 (+93.8%)	$215,386 (+39.6%)	0.2%	$57.30	-21.1%	COM CL A	316841105
DUOL	Duolingo Inc	4,861,445 (+71.9%)	$853,184 (-6.3%)	0.7%	$196.37	+20.0%	CL A COM	26603R106
MMYT	MakeMyTrip	5,155,036 (+2.3%)	$423,332 (-10.3%)	0.4%	$69.16	+18.6%	SHS	V5633W109
BABA	Alibaba Group Holding Sponsored ADR	740,365 (+99.2%)	$108,523 (+63.4%)	0.1%	$162.72	—	SPONSORED ADS	01609W102
AMSC	American Superconductor Corp	1,506,841 (+5.6%)	$43,367 (-48.8%)	0.0%	$15.82	+173.3%	COM	030111207
JKHY	Jack Henry & Associates	496,603 (+47.6%)	$90,620 (+80.8%)	0.1%	$172.84	-3.8%	COM	426281101
ACN	Accenture 'A'	342,567 (+49.4%)	$91,911 (+62.6%)	0.1%	$286.73	-11.4%	COM	G1151C101
DNLI	Denali Therapeutics	12,310,889 (+6.2%)	$203,253 (+20.8%)	0.2%	$31.53	-46.5%	COM	24823R105
BBD	Banco Bradesco Pn ADR	38,275,506 (+36.8%)	$127,457 (+34.8%)	0.1%	$5.63	—	SP ADR PFD NEW	059460303
RELY	Remitly Global Inc	11,658,558 (+48.2%)	$160,888 (+25.4%)	0.1%	$16.30	-10.9%	COM	75960P104
MNDY	monday.com	723,655 (+2.2%)	$106,783 (-22.2%)	0.1%	$221.50	-24.0%	COM	M7S64H106
COUR	Coursera Inc	14,590,942 (+97.0%)	$107,389 (+23.8%)	0.1%	$20.57	-57.7%	COM	22266M104
TFII	TFI International	1,029,871 (+1.0%)	$106,590 (+18.8%)	0.1%	$141.84	-34.4%	COM	87241L109
TNDM	Tandem Diabetes Care	1,145,516 (+2.2%)	$25,178 (+85.1%)	0.0%	$31.01	-41.8%	COM NEW	875372203
BSY	Bentley Systems	298,295 (+54633.0%)	$11,384 (+40476.1%)	0.0%	$45.54	-0.0%	COM	08265T208
COIN	Coinbase Global Inc	829,081 (+41.1%)	$187,488 (-5.4%)	0.2%	$327.09	-8.9%	COM CL A	19260Q107
KRNT	Kornit Digital	1,565,079 (+61.7%)	$22,506 (+72.2%)	0.0%	$17.55	-22.0%	SHS	M6372Q113
TMDX	TransMedics Group	316,473 (+21.4%)	$38,499 (+31.6%)	0.0%	$72.50	+73.1%	COM	89377M109
BN	Brookfield Corp	7,013,657 (+45.4%)	$321,857 (-2.7%)	0.3%	$39.22	+16.1%	CL A	11271J107
MNST	Monster Beverage	389,458 (+18.5%)	$29,860 (+34.9%)	0.0%	$55.15	+29.9%	COM	61174X109
XMTR	Xometry Inc - A	1,306,151 (+1.6%)	$77,677 (+11.0%)	0.1%	$29.22	+92.9%	CLASS A	98423F109
DLR	Digital Realty Trust REIT	40,541 (+526.2%)	$6,272 (+460.4%)	0.0%	$157.33	+3.7%	COM	253868103
TWST	Twist Bioscience Corp	1,276,195 (+1.1%)	$40,481 (+13.9%)	0.0%	$33.88	-7.9%	COM	90184D100
DOC	Healthpeak Properties Inc REIT	367,256 (+613.2%)	$5,905 (+498.9%)	0.0%	$17.38	+0.5%	COM	42250P103
BEAM	Beam Therapeutics	416,224 (+39.8%)	$11,538 (+59.6%)	0.0%	$37.62	-32.2%	COM	07373V105
DLO	dLocal	2,996,660 (+12.2%)	$42,373 (+11.1%)	0.0%	$15.89	-11.2%	CL A	G29018101
UTI	Universal Technical Institute	594,823 (+2.4%)	$15,543 (-17.8%)	0.0%	$29.36	-3.6%	COM	913915104
ALAB	Astera Labs	252,913 (+9.6%)	$42,075 (-6.9%)	0.0%	$86.73	+92.9%	COM	04626A103
AMPL	Amplitude	2,741,880 (+2.2%)	$31,751 (+10.4%)	0.0%	$11.80	-10.8%	COM CL A	03213A104
EQT	Eqt Corp	334,040 (+21.2%)	$17,905 (+19.3%)	0.0%	$53.23	+5.4%	COM	26884L109
BZ	Kanzhun ADR	9,955,584 (+16.2%)	$202,895 (+1.4%)	0.2%	$21.60	—	SPONSORED ADR	48553T106
KTOS	Kratos Defense & Security	282,562 (+35.5%)	$21,449 (+12.6%)	0.0%	$68.71	+19.1%	COM	50077B207
PM	Philip Morris Intl	30,741 (+59.3%)	$4,931 (+57.5%)	0.0%	$139.67	+10.0%	COM	718172109
—	Cable One Convertible 1.125 2028	9,435,000 (+28.0%)	$7,733 (+22.5%)	0.0%	$0.80	—	NOTE 1.125 3/1	12685JAG0
PRCT	PROCEPT BioRobotics	1,015,978 (+18.3%)	$31,963 (+4.3%)	0.0%	$56.48	-41.3%	COM	74276L105
SO	Southern	154,618 (+1.2%)	$13,483 (-6.9%)	0.0%	$88.76	+2.4%	COM	842587107
Z	Zillow Group Inc Class C	739,270 (+11.4%)	$50,433 (-1.4%)	0.0%	$54.35	+33.2%	CL C CAP STK	98954M200
CNP	Centerpoint Energy, Inc.	400,829 (+5.4%)	$15,368 (+4.1%)	0.0%	$35.99	+8.0%	COM	15189T107
HD	Home Depot	150,964 (+16.8%)	$51,947 (-0.8%)	0.0%	$337.96	+7.9%	COM	437076102
MRSH	Marsh & McLennan	87,167 (+5.8%)	$16,171 (-2.6%)	0.0%	$215.41	-13.5%	COM	571748102
TER	Teradyne	341 (+9.3%)	$66 (+53.7%)	0.0%	$39.00	+339.8%	COM	880770102
RIO	Rio Tinto Spn.Adr 1:1	524 (+51.0%)	$42 (+83.1%)	0.0%	$70.93	—	SPONSORED ADR	767204100
NXT	Nextracker	420 (+76.5%)	$37 (+107.8%)	0.0%	$75.80	+19.6%	CLASS A	65290E101
HUBB	Hubbell	70 (+62.8%)	$31 (+68.0%)	0.0%	$403.67	+8.3%	COM	443510607
EQR	Equity Residential REIT	118,133 (+2.6%)	$7,447 (-0.1%)	0.0%	$63.06	-3.8%	COM	29476L107
CRH	CRH Plc	509 (+8.5%)	$64 (+13.0%)	0.0%	$88.42	+34.7%	ADR	G25508105
NVO	Novo Nordisk 'B' Adr 1:1	437 (+39.2%)	$22 (+27.6%)	0.0%	$63.92	—	ADR	670100205
VEEV	Veeva Systems Inc Class A	49 (+16.7%)	$11 (-12.6%)	0.0%	$253.15	+4.8%	COM	922475108

Exited Positions (21)

PINS Pinterest 0.2%

Value ($000) $250,934 Shares 7,800,244 Est. Cost $55.19 Unrealized -47.8%

CHWY Chewy Inc 0.2%

Value ($000) $223,176 Shares 5,517,323 Est. Cost $42.42 Unrealized -18.2%

BLDR Builders Firstsource 0.1%

Value ($000) $178,213 Shares 1,469,801 Est. Cost $167.73 Unrealized -33.0%

INSP Inspire Medical Systems 0.1%

Value ($000) $80,459 Shares 1,084,350 Est. Cost $168.77 Unrealized -43.3%

ABCL Abcellera Biologics Inc 0.0%

Value ($000) $52,428 Shares 10,422,966 Est. Cost $11.89 Unrealized -62.5%

EXAS Exact Sciences 0.0%

Value ($000) $41,763 Shares 763,356 Est. Cost $110.38 Unrealized -27.2%

— CyberArk Software Ltd 0.0%

Value ($000) $35,623 Shares 73,731 Est. Cost $138.55 Unrealized —

VECO Veeco Instruments 0.0%

Value ($000) $22,647 Shares 744,218 Est. Cost $23.58 Unrealized +25.8%

CFLT Confluent Inc. 0.0%

Value ($000) $18,826 Shares 950,803 Est. Cost $28.62 Unrealized -14.2%

TJX TJX Companies 0.0%

Value ($000) $14,592 Shares 100,957 Est. Cost $58.78 Unrealized +151.3%

GGG Graco 0.0%

Value ($000) $9,803 Shares 115,382 Est. Cost $77.20 Unrealized +6.1%

PYPL PayPal 0.0%

Value ($000) $8,350 Shares 124,521 Est. Cost $64.97 Unrealized -0.2%

EIC Eagle Point Income 0.0%

Value ($000) $7,447 Shares 553,305 Est. Cost $14.95 Unrealized —

DMXF ETFS Ishares Esg Advanced Msci Eafe 0.0%

Value ($000) $2,681 Shares 35,400 Est. Cost $75.74 Unrealized —

DCBO Docebo 0.0%

Value ($000) $365 Shares 13,359 Est. Cost $45.02 Unrealized -47.0%

— Unilever Spn.Adr 1:1 0.0%

Value ($000) $27 Shares 456 Est. Cost $56.70 Unrealized —

URI United Rentals 0.0%

Value ($000) $21 Shares 22 Est. Cost $682.18 Unrealized +27.1%

— Total Fina ADR 0.0%

Value ($000) $8 Shares 138 Est. Cost $58.37 Unrealized —

BUD Anheuser-Busch Inbev ADR 0.0%

Value ($000) $7 Shares 119 Est. Cost $64.83 Unrealized —

UBS UBS Group (US) 0.0%

Value ($000) $7 Shares 172 Est. Cost $30.94 Unrealized +30.6%

— WNS Global Services 0.0%

Value ($000) $2 Shares 26 Est. Cost $76.27 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PINS	Pinterest	7,800,244	$250,934	0.2%	$55.19	-47.8%	—	72352L106
CHWY	Chewy Inc	5,517,323	$223,176	0.2%	$42.42	-18.2%	—	16679L109
BLDR	Builders Firstsource	1,469,801	$178,213	0.1%	$167.73	-33.0%	—	12008R107
INSP	Inspire Medical Systems	1,084,350	$80,459	0.1%	$168.77	-43.3%	—	457730109
ABCL	Abcellera Biologics Inc	10,422,966	$52,428	0.0%	$11.89	-62.5%	—	00288U106
EXAS	Exact Sciences	763,356	$41,763	0.0%	$110.38	-27.2%	—	30063P105
—	CyberArk Software Ltd	73,731	$35,623	0.0%	$138.55	—	—	M2682V108
VECO	Veeco Instruments	744,218	$22,647	0.0%	$23.58	+25.8%	—	922417100
CFLT	Confluent Inc.	950,803	$18,826	0.0%	$28.62	-14.2%	—	20717M103
TJX	TJX Companies	100,957	$14,592	0.0%	$58.78	+151.3%	—	872540109
GGG	Graco	115,382	$9,803	0.0%	$77.20	+6.1%	—	384109104
PYPL	PayPal	124,521	$8,350	0.0%	$64.97	-0.2%	—	70450Y103
EIC	Eagle Point Income	553,305	$7,447	0.0%	$14.95	—	—	269817102
DMXF	ETFS Ishares Esg Advanced Msci Eafe	35,400	$2,681	0.0%	$75.74	—	—	46436E759
DCBO	Docebo	13,359	$365	0.0%	$45.02	-47.0%	—	25609L105
—	Unilever Spn.Adr 1:1	456	$27	0.0%	$56.70	—	—	904767704
URI	United Rentals	22	$21	0.0%	$682.18	+27.1%	—	911363109
—	Total Fina ADR	138	$8	0.0%	$58.37	—	—	89151E109
BUD	Anheuser-Busch Inbev ADR	119	$7	0.0%	$64.83	—	—	03524A108
UBS	UBS Group (US)	172	$7	0.0%	$30.94	+30.6%	—	H42097107
—	WNS Global Services	26	$2	0.0%	$76.27	—	—	G98196101

Decreased Positions (153)

SE Sea Ltd ADR 4.1%

Value ($000) $4,944,459 (-31.0%) Shares 38,758,791 (-3.3%) Est. Cost $77.88 Unrealized —

RBLX Roblox 1.5%

Value ($000) $1,745,672 (-45.9%) Shares 21,543,528 (-7.5%) Est. Cost $42.58 Unrealized +149.4%

CPNG Coupang 2.9%

Value ($000) $3,447,020 (-28.8%) Shares 146,122,094 (-2.8%) Est. Cost $25.72 Unrealized +10.6%

NET Cloudflare Inc 2.8%

Value ($000) $3,316,841 (-29.3%) Shares 16,823,947 (-23.0%) Est. Cost $44.12 Unrealized +379.5%

SPOT Spotify Technology SA 4.0%

Value ($000) $4,837,955 (-20.3%) Shares 8,331,104 (-4.2%) Est. Cost $154.84 Unrealized +303.7%

DDOG Datadog 0.4%

Value ($000) $538,726 (-66.9%) Shares 3,961,509 (-65.3%) Est. Cost $96.80 Unrealized +63.3%

META Meta Platforms Inc 2.4%

Value ($000) $2,903,890 (-25.3%) Shares 4,399,233 (-16.8%) Est. Cost $217.32 Unrealized +207.1%

PDD PDD Holdings Inc 2.9%

Value ($000) $3,518,755 (-16.3%) Shares 31,032,323 (-2.4%) Est. Cost $69.50 Unrealized —

BNTX BioNTech ADR 0.1%

Value ($000) $118,511 (-84.7%) Shares 1,244,867 (-84.2%) Est. Cost $118.05 Unrealized —

TTD The Trade Desk 0.7%

Value ($000) $846,736 (-40.7%) Shares 22,305,995 (-23.4%) Est. Cost $63.41 Unrealized -30.1%

NVDA NVIDIA 6.8%

Value ($000) $8,181,327 (-5.8%) Shares 43,867,705 (-5.8%) Est. Cost $91.96 Unrealized +102.4%

RACE Ferrari ADR 1.2%

Value ($000) $1,456,021 (-23.6%) Shares 3,890,014 (-1.3%) Est. Cost $47.20 Unrealized +747.8%

DASH Doordash Inc 1.5%

Value ($000) $1,805,060 (-19.7%) Shares 7,970,062 (-3.6%) Est. Cost $125.22 Unrealized +87.3%

ELF e.l.f. Beauty 0.5%

Value ($000) $545,789 (-43.9%) Shares 7,177,659 (-2.3%) Est. Cost $154.30 Unrealized -36.2%

MSFT Microsoft 2.2%

Value ($000) $2,681,595 (-11.7%) Shares 5,544,839 (-5.4%) Est. Cost $217.88 Unrealized +129.8%

APP AppLovin 3.5%

Value ($000) $4,155,009 (-7.4%) Shares 6,166,349 (-1.3%) Est. Cost $280.65 Unrealized +124.5%

AZO AutoZone 0.2%

Value ($000) $292,151 (-52.7%) Shares 86,142 (-40.2%) Est. Cost $2973.37 Unrealized +27.1%

ISRG Intuitive Surgical 1.2%

Value ($000) $1,444,987 (+24.1%) Shares 2,551,357 (-2.0%) Est. Cost $261.81 Unrealized +103.3%

AVAV AeroVironment 0.2%

Value ($000) $285,384 (-49.2%) Shares 1,179,811 (-33.9%) Est. Cost $142.79 Unrealized +120.2%

TEM Tempus Ai Inc 0.4%

Value ($000) $516,182 (-34.0%) Shares 8,741,442 (-9.8%) Est. Cost $57.34 Unrealized +36.4%

SHOP Shopify 'A' 4.2%

Value ($000) $5,023,268 (-4.6%) Shares 31,206,232 (-12.0%) Est. Cost $43.46 Unrealized +269.4%

ALNY Alnylam Pharmaceuticals 0.9%

Value ($000) $1,034,279 (-18.7%) Shares 2,600,979 (-6.8%) Est. Cost $97.60 Unrealized +353.4%

WIX Wix Com 0.2%

Value ($000) $296,566 (-42.3%) Shares 2,854,611 (-1.3%) Est. Cost $81.62 Unrealized +48.1%

RIVN Rivian Automotive Inc 0.7%

Value ($000) $862,931 (+30.8%) Shares 43,781,355 (-2.6%) Est. Cost $20.01 Unrealized -20.7%

XYZ Block Inc 0.5%

Value ($000) $642,819 (-23.7%) Shares 9,875,845 (-15.3%) Est. Cost $65.35 Unrealized +5.6%

GH Guardant Health 0.4%

Value ($000) $499,467 (+55.9%) Shares 4,890,026 (-4.6%) Est. Cost $27.98 Unrealized +219.7%

AMZN Amazon.Com 5.6%

Value ($000) $6,783,123 (-2.4%) Shares 29,387,070 (-7.2%) Est. Cost $118.71 Unrealized +92.7%

JOBY Joby Aviation Inc 0.5%

Value ($000) $654,334 (-19.6%) Shares 49,570,755 (-1.7%) Est. Cost $6.14 Unrealized +150.1%

TSLA Tesla Inc 0.5%

Value ($000) $603,884 (-18.1%) Shares 1,342,801 (-19.0%) Est. Cost $212.90 Unrealized +108.2%

AUR Aurora Innovation Class A Common 0.2%

Value ($000) $286,405 (-29.7%) Shares 74,584,590 (-1.3%) Est. Cost $4.52 Unrealized +1.4%

DOCS Doximity Inc 0.1%

Value ($000) $164,338 (-41.6%) Shares 3,711,340 (-3.6%) Est. Cost $33.43 Unrealized +67.9%

PAYC Paycom Software 0.2%

Value ($000) $261,174 (-26.6%) Shares 1,638,894 (-4.1%) Est. Cost $209.09 Unrealized -15.4%

SCI Service Corp.Intl. 0.6%

Value ($000) $714,315 (-11.4%) Shares 9,161,409 (-5.4%) Est. Cost $50.18 Unrealized +59.4%

UBER Uber Technologies 0.3%

Value ($000) $323,720 (-20.9%) Shares 3,961,818 (-5.2%) Est. Cost $76.80 Unrealized +17.2%

FIX Comfort Systems USA 0.2%

Value ($000) $256,414 (-24.7%) Shares 274,742 (-33.4%) Est. Cost $173.94 Unrealized +430.6%

MBLY Mobileye Global Inc. 0.1%

Value ($000) $76,961 (-49.6%) Shares 7,371,722 (-31.8%) Est. Cost $30.89 Unrealized -59.6%

WSO Watsco Inc 0.3%

Value ($000) $309,149 (-19.0%) Shares 917,492 (-2.8%) Est. Cost $163.97 Unrealized +117.8%

PODD Insulet 0.5%

Value ($000) $582,228 (-9.8%) Shares 2,048,369 (-2.1%) Est. Cost $182.94 Unrealized +70.9%

AJG AJ Gallagher & Co 0.2%

Value ($000) $223,921 (-20.5%) Shares 865,260 (-4.8%) Est. Cost $64.23 Unrealized +311.4%

SYM Symbotic 0.6%

Value ($000) $740,239 (+8.3%) Shares 12,441,000 (-1.9%) Est. Cost $39.50 Unrealized +67.2%

PBR Petrobras Common ADR 0.3%

Value ($000) $349,854 (-13.9%) Shares 29,523,522 (-8.0%) Est. Cost $11.21 Unrealized —

GRAB Grab Holdings 0.2%

Value ($000) $230,603 (-19.6%) Shares 46,212,934 (-3.0%) Est. Cost $3.68 Unrealized +50.3%

PONY Pony AI ADR 0.1%

Value ($000) $91,374 (-37.1%) Shares 6,301,650 (-2.5%) Est. Cost $13.20 Unrealized —

WDAY Workday Inc 0.3%

Value ($000) $314,651 (-14.5%) Shares 1,464,991 (-4.2%) Est. Cost $141.23 Unrealized +60.9%

ILMN Illumina 0.2%

Value ($000) $213,368 (+33.2%) Shares 1,626,776 (-3.6%) Est. Cost $169.44 Unrealized -30.7%

MA Mastercard Inc-Class A 0.7%

Value ($000) $835,886 (-5.8%) Shares 1,464,206 (-6.1%) Est. Cost $95.64 Unrealized +484.4%

EPAM Epam Systems Inc 0.2%

Value ($000) $244,433 (+25.3%) Shares 1,193,056 (-7.8%) Est. Cost $166.65 Unrealized +7.0%

SQM SQM ADR 0.4%

Value ($000) $428,880 (+12.6%) Shares 6,233,717 (-29.7%) Est. Cost $39.24 Unrealized —

ETN Eaton 0.2%

Value ($000) $214,625 (-17.8%) Shares 673,840 (-3.4%) Est. Cost $150.47 Unrealized +135.5%

LMND Lemonade Inc 0.2%

Value ($000) $204,034 (+29.6%) Shares 2,866,446 (-2.6%) Est. Cost $72.62 Unrealized -7.5%

FTAI FTAI Aviation 0.4%

Value ($000) $450,071 (+11.1%) Shares 2,286,363 (-5.8%) Est. Cost $111.23 Unrealized +53.1%

RPRX Royalty Pharma 0.5%

Value ($000) $657,219 (+7.2%) Shares 17,008,768 (-2.1%) Est. Cost $38.63 Unrealized -1.3%

FAST Fastenal 0.1%

Value ($000) $76,587 (-35.8%) Shares 1,908,484 (-21.5%) Est. Cost $18.48 Unrealized +127.4%

MRNA Moderna Inc 0.5%

Value ($000) $606,919 (+7.6%) Shares 20,580,514 (-5.8%) Est. Cost $128.32 Unrealized -78.8%

PEN Penumbra Inc 0.2%

Value ($000) $272,458 (+18.4%) Shares 876,325 (-3.5%) Est. Cost $192.11 Unrealized +43.8%

TXN Texas Instruments 0.3%

Value ($000) $377,843 (-10.0%) Shares 2,177,897 (-4.6%) Est. Cost $151.75 Unrealized +12.5%

SVV Savers Value Village 0.1%

Value ($000) $83,087 (-32.6%) Shares 8,895,847 (-4.4%) Est. Cost $9.90 Unrealized +3.8%

CGNX Cognex Corp 0.0%

Value ($000) $6,244 (-86.3%) Shares 173,538 (-82.8%) Est. Cost $45.12 Unrealized -10.4%

DXCM Dexcom Inc 0.9%

Value ($000) $1,032,225 (-3.4%) Shares 15,552,587 (-2.1%) Est. Cost $78.31 Unrealized -17.4%

MLM Martin Marietta Materials 0.6%

Value ($000) $721,896 (-4.2%) Shares 1,159,375 (-3.0%) Est. Cost $214.21 Unrealized +190.1%

W Wayfair Inc Class A 0.3%

Value ($000) $401,851 (+8.4%) Shares 4,002,104 (-3.5%) Est. Cost $154.43 Unrealized -37.7%

TSM TSMC ADR 0.3%

Value ($000) $406,146 (-7.0%) Shares 1,336,491 (-14.5%) Est. Cost $61.04 Unrealized —

DKNG DraftKings Inc 0.2%

Value ($000) $256,898 (-10.7%) Shares 7,454,948 (-3.0%) Est. Cost $39.97 Unrealized -17.7%

SNOW Snowflake Inc 0.5%

Value ($000) $600,115 (-4.8%) Shares 2,735,752 (-2.1%) Est. Cost $231.61 Unrealized +5.4%

RDDT Reddit 1.1%

Value ($000) $1,374,834 (-2.1%) Shares 5,980,918 (-2.1%) Est. Cost $119.38 Unrealized +76.2%

NYT New York Times Co 0.2%

Value ($000) $210,004 (+16.3%) Shares 3,025,119 (-3.8%) Est. Cost $49.03 Unrealized +26.1%

MKL Markel Corp 0.3%

Value ($000) $405,074 (+7.6%) Shares 188,437 (-4.3%) Est. Cost $598.93 Unrealized +238.3%

MP MP Materials 0.0%

Value ($000) $36,238 (-43.4%) Shares 717,292 (-24.9%) Est. Cost $29.37 Unrealized +115.9%

DNA Ginkgo Bioworks Holdings Inc 0.0%

Value ($000) $19,875 (-57.9%) Shares 2,391,649 (-26.1%) Est. Cost $10.02 Unrealized +7.4%

KSPI Kaspi.kz ADR 0.3%

Value ($000) $365,108 (-6.6%) Shares 4,673,083 (-2.4%) Est. Cost $118.13 Unrealized —

FND Floor & Decor Holdings 0.1%

Value ($000) $96,655 (-20.5%) Shares 1,587,372 (-3.8%) Est. Cost $89.66 Unrealized -27.7%

ARM Arm Hdgs ADR 0.1%

Value ($000) $66,955 (-26.2%) Shares 612,528 (-4.4%) Est. Cost $141.49 Unrealized —

AFRM Affirm Holdings Inc Class A 0.3%

Value ($000) $408,095 (-5.3%) Shares 5,482,943 (-7.0%) Est. Cost $85.35 Unrealized -15.7%

HDB HDFC Bank ADR 0.2%

Value ($000) $209,989 (-9.7%) Shares 5,746,819 (-15.6%) Est. Cost $47.40 Unrealized —

ADSK Autodesk 0.2%

Value ($000) $209,069 (-9.4%) Shares 706,289 (-2.8%) Est. Cost $205.72 Unrealized +47.1%

MKTX MarketAxess Holdings 0.0%

Value ($000) $7,090 (-75.2%) Shares 39,115 (-76.2%) Est. Cost $171.71 Unrealized -1.3%

ALB Albemarle Corp 0.0%

Value ($000) $49,874 (+70.6%) Shares 352,618 (-2.2%) Est. Cost $85.52 Unrealized +32.4%

AEHR Aehr Test Systems 0.0%

Value ($000) $26,060 (-43.5%) Shares 1,290,734 (-15.7%) Est. Cost $18.22 Unrealized +32.8%

KNF Knife River 0.1%

Value ($000) $149,733 (-11.4%) Shares 2,128,401 (-3.2%) Est. Cost $81.68 Unrealized -14.0%

FMX Fomento Economico Mexicano Sab ADR 0.3%

Value ($000) $353,378 (-4.5%) Shares 3,496,366 (-6.8%) Est. Cost $116.26 Unrealized —

LINE Lineage Inc 0.1%

Value ($000) $97,520 (-14.6%) Shares 2,786,283 (-5.7%) Est. Cost $69.53 Unrealized —

SG Sweetgreen 0.1%

Value ($000) $72,106 (-18.3%) Shares 10,666,540 (-3.6%) Est. Cost $14.64 Unrealized -53.0%

CRM Salesforce.com 0.2%

Value ($000) $281,550 (+6.0%) Shares 1,062,815 (-5.1%) Est. Cost $309.01 Unrealized -19.7%

BROS Dutch Bros 0.2%

Value ($000) $197,782 (+8.1%) Shares 3,230,676 (-7.6%) Est. Cost $35.25 Unrealized +61.2%

CBRE Cbre Group Inc 0.4%

Value ($000) $432,044 (-3.1%) Shares 2,687,007 (-5.1%) Est. Cost $50.56 Unrealized +211.0%

WSC WillScot Hdgs 0.1%

Value ($000) $88,714 (-13.5%) Shares 4,711,287 (-3.0%) Est. Cost $34.00 Unrealized -40.7%

LU Lufax Holding Ltd 0.0%

Value ($000) $20,334 (-40.4%) Shares 7,942,847 (-5.5%) Est. Cost $3.47 Unrealized —

SANA Sana Biotechnology Inc 0.0%

Value ($000) $26,899 (-33.7%) Shares 6,609,065 (-42.2%) Est. Cost $26.88 Unrealized -83.3%

ECL Ecolab 0.2%

Value ($000) $181,402 (-6.9%) Shares 691,003 (-2.9%) Est. Cost $189.08 Unrealized +40.5%

PG Procter & Gamble 0.1%

Value ($000) $128,541 (-9.0%) Shares 896,945 (-2.4%) Est. Cost $101.64 Unrealized +44.8%

SN SharkNinja 0.2%

Value ($000) $222,528 (+5.7%) Shares 1,988,633 (-2.6%) Est. Cost $90.54 Unrealized +8.9%

ADI Analog Devices 0.1%

Value ($000) $154,168 (+8.0%) Shares 568,465 (-2.1%) Est. Cost $148.67 Unrealized +68.6%

ENPH Enphase Energy Inc 0.1%

Value ($000) $82,941 (-12.1%) Shares 2,587,853 (-2.9%) Est. Cost $92.98 Unrealized -65.2%

CP Canadian Pacific Kansas City Ltd 0.0%

Value ($000) $22,525 (-32.7%) Shares 305,553 (-31.9%) Est. Cost $76.45 Unrealized -3.7%

BAP Credicorp 0.3%

Value ($000) $411,240 (-2.4%) Shares 1,432,893 (-9.5%) Est. Cost $140.92 Unrealized +87.9%

BC Brunswick Corp 0.1%

Value ($000) $124,590 (+8.9%) Shares 1,678,211 (-7.3%) Est. Cost $81.24 Unrealized -16.9%

VRTX Vertex Pharmaceuticals Inc 0.1%

Value ($000) $91,165 (+12.4%) Shares 201,088 (-2.9%) Est. Cost $445.03 Unrealized -3.1%

FN Fabrinet 0.2%

Value ($000) $211,507 (+4.9%) Shares 464,564 (-16.0%) Est. Cost $175.04 Unrealized +148.5%

SPGI S&P Global Inc 0.3%

Value ($000) $378,676 (+2.3%) Shares 724,613 (-4.7%) Est. Cost $307.42 Unrealized +60.8%

INTU Intuit 0.1%

Value ($000) $87,302 (-8.8%) Shares 131,793 (-6.0%) Est. Cost $464.42 Unrealized +42.3%

FROG JFrog Ltd 0.0%

Value ($000) $54,404 (+18.1%) Shares 871,028 (-10.5%) Est. Cost $48.06 Unrealized +18.3%

WRBY Warby Parker Inc 0.0%

Value ($000) $5,013 (-60.2%) Shares 230,057 (-49.6%) Est. Cost $46.86 Unrealized -53.6%

IBN ICICI Bank ADR 0.1%

Value ($000) $140,337 (-5.0%) Shares 4,709,302 (-3.6%) Est. Cost $12.91 Unrealized —

CSCO Cisco Systems 0.1%

Value ($000) $77,509 (+10.4%) Shares 1,006,219 (-1.9%) Est. Cost $40.63 Unrealized +81.6%

BEKE KE Holdings ADR 0.0%

Value ($000) $2 (-100.0%) Shares 128 (-100.0%) Est. Cost $58.86 Unrealized —

WMS Advanced Drainage Systems 0.3%

Value ($000) $325,001 (-2.2%) Shares 2,244,014 (-6.3%) Est. Cost $89.04 Unrealized +62.5%

INFY Infosys Ltd ADR 0.0%

Value ($000) $37,549 (-15.9%) Shares 2,107,125 (-23.2%) Est. Cost $16.96 Unrealized —

ELV Elevance Health Inc 0.6%

Value ($000) $693,352 (-1.0%) Shares 1,977,899 (-8.7%) Est. Cost $149.47 Unrealized +125.3%

RYAAY Ryanair ADR 0.7%

Value ($000) $818,910 (+0.8%) Shares 11,343,819 (-15.9%) Est. Cost $60.96 Unrealized —

MEDP Medpace Holdings 0.3%

Value ($000) $307,266 (+2.2%) Shares 547,078 (-6.4%) Est. Cost $315.43 Unrealized +80.0%

IREN IREN 0.0%

Value ($000) $19,931 (-24.6%) Shares 527,686 (-6.3%) Est. Cost $24.29 Unrealized +112.4%

ES Eversource Energy 0.0%

Value ($000) $9,375 (-40.8%) Shares 139,244 (-37.4%) Est. Cost $58.66 Unrealized +18.6%

ON On Semiconductor Corp 0.2%

Value ($000) $255,887 (+2.5%) Shares 4,725,516 (-6.7%) Est. Cost $50.33 Unrealized +1.9%

QS QuantumScape Corp 0.0%

Value ($000) $15,204 (-27.8%) Shares 1,459,100 (-14.6%) Est. Cost $17.31 Unrealized -20.4%

PAYX Paychex 0.0%

Value ($000) $34,110 (-12.9%) Shares 304,062 (-1.5%) Est. Cost $141.76 Unrealized -17.8%

IPGP IPG Photonics Corp 0.0%

Value ($000) $27,493 (-14.8%) Shares 383,984 (-5.7%) Est. Cost $114.59 Unrealized -28.8%

BUR Burford Capital 0.0%

Value ($000) $3,569 (-57.1%) Shares 398,433 (-43.0%) Est. Cost $12.84 Unrealized -23.7%

SDGR Schrodinger 0.0%

Value ($000) $14,939 (-23.6%) Shares 835,488 (-14.3%) Est. Cost $28.05 Unrealized -32.4%

DE Deere & Co 0.2%

Value ($000) $244,325 (-1.5%) Shares 524,786 (-3.3%) Est. Cost $327.27 Unrealized +42.9%

SBUX Starbucks Corp 0.0%

Value ($000) $54,388 (-6.5%) Shares 645,865 (-6.0%) Est. Cost $89.24 Unrealized -5.8%

UNH UnitedHealth 0.0%

Value ($000) $13,052 (-22.3%) Shares 39,537 (-18.7%) Est. Cost $472.44 Unrealized -28.6%

CDNS Cadence Design Systems 0.0%

Value ($000) $9,073 (-28.6%) Shares 29,025 (-19.7%) Est. Cost $278.09 Unrealized +17.3%

ZG Zillow Group Inc Class A 0.0%

Value ($000) $3,128 (-53.2%) Shares 45,840 (-48.9%) Est. Cost $52.82 Unrealized +33.1%

ITUB Itau Unibanco Holding SA-ADR 0.1%

Value ($000) $69,125 (-4.7%) Shares 9,654,305 (-2.3%) Est. Cost $8.98 Unrealized —

MSA MSA Safety 0.0%

Value ($000) $11,070 (-22.5%) Shares 69,128 (-16.7%) Est. Cost $167.93 Unrealized -3.0%

SNPS Synopsys 0.0%

Value ($000) $9,942 (-24.3%) Shares 21,166 (-20.5%) Est. Cost $499.48 Unrealized -11.1%

TTEK Tetra Tech 0.0%

Value ($000) $14,381 (-17.6%) Shares 428,775 (-18.0%) Est. Cost $33.29 Unrealized +1.6%

EXC Exelon Corporation 0.0%

Value ($000) $13,487 (-18.2%) Shares 309,409 (-15.5%) Est. Cost $40.91 Unrealized +11.1%

APPN Appian Corp 0.0%

Value ($000) $33,334 (+9.7%) Shares 941,106 (-5.3%) Est. Cost $50.02 Unrealized -28.8%

NEE NextEra Energy 0.0%

Value ($000) $16,621 (-14.5%) Shares 207,039 (-19.6%) Est. Cost $70.83 Unrealized +16.5%

AMT American Tower Corp REIT 0.0%

Value ($000) $9,864 (-21.4%) Shares 56,181 (-13.9%) Est. Cost $178.56 Unrealized +1.0%

BEPC Brookfield Renewable 0.0%

Value ($000) $15,832 (-13.3%) Shares 412,931 (-22.2%) Est. Cost $29.14 Unrealized +37.2%

WAB Wabtec 0.0%

Value ($000) $15,741 (-13.2%) Shares 73,744 (-18.5%) Est. Cost $101.37 Unrealized +102.6%

FTS Fortis 0.0%

Value ($000) $13,817 (-13.7%) Shares 265,404 (-15.9%) Est. Cost $41.23 Unrealized +23.3%

KO Coca Cola 0.0%

Value ($000) $53,195 (+4.1%) Shares 760,904 (-1.2%) Est. Cost $37.37 Unrealized +85.7%

CSL Carlisle Companies 0.0%

Value ($000) $7,320 (-21.3%) Shares 22,884 (-19.0%) Est. Cost $331.86 Unrealized -2.8%

SKYT SkyWater Technology 0.0%

Value ($000) $28,416 (-6.4%) Shares 1,564,775 (-3.8%) Est. Cost $8.02 Unrealized +116.7%

CME CME Group Inc 0.1%

Value ($000) $121,804 (-1.4%) Shares 446,036 (-2.5%) Est. Cost $206.28 Unrealized +31.2%

UPWK Upwork Inc 0.0%

Value ($000) $20,430 (-6.6%) Shares 1,030,754 (-12.5%) Est. Cost $24.52 Unrealized -25.2%

WEC WEC Energy Group 0.0%

Value ($000) $13,676 (-9.1%) Shares 129,676 (-1.3%) Est. Cost $92.08 Unrealized +19.8%

TROW T. Rowe Price 0.0%

Value ($000) $49,444 (-2.5%) Shares 482,941 (-2.3%) Est. Cost $103.03 Unrealized -0.8%

SUI Sun Communities Inc REIT 0.0%

Value ($000) $5,238 (-15.8%) Shares 42,273 (-12.3%) Est. Cost $132.13 Unrealized —

MCO Moody's Corp 0.3%

Value ($000) $350,977 (-0.3%) Shares 687,046 (-7.0%) Est. Cost $71.93 Unrealized +577.5%

MCD McDonald's 0.0%

Value ($000) $38,778 (-2.2%) Shares 126,880 (-2.8%) Est. Cost $147.77 Unrealized +106.5%

AAPL Apple 0.1%

Value ($000) $180,337 (-0.4%) Shares 663,344 (-6.7%) Est. Cost $132.22 Unrealized +103.0%

PLD Prologis Inc REIT 0.0%

Value ($000) $5,335 (-10.8%) Shares 41,787 (-20.0%) Est. Cost $101.67 Unrealized +21.8%

BCH Banco De Chile ADR 0.0%

Value ($000) $27,834 (-1.9%) Shares 732,470 (-21.7%) Est. Cost $23.70 Unrealized —

EW Edwards Lifesciences Corp 0.0%

Value ($000) $44,016 (-1.1%) Shares 516,311 (-9.8%) Est. Cost $72.91 Unrealized +12.6%

PEP Pepsico 0.1%

Value ($000) $93,320 (+0.3%) Shares 650,222 (-1.9%) Est. Cost $111.82 Unrealized +30.5%

RAMP Liveramp Holdings Inc 0.0%

Value ($000) $27,607 (-0.9%) Shares 939,961 (-8.4%) Est. Cost $41.69 Unrealized -31.2%

LI Li Auto ADR 0.0%

Value ($000) $1 (-64.9%) Shares 53 (-47.5%) Est. Cost $28.79 Unrealized —

ONC BeOne Medicines Ltd ADR 0.0%

Value ($000) $2 (-33.1%) Shares 6 (-25.0%) Est. Cost $340.75 Unrealized —

BIDU Baidu.com Sponsored ADR 0.0%

Value ($000) $4 (-9.8%) Shares 30 (-9.1%) Est. Cost $131.76 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SE	Sea Ltd ADR	38,758,791 (-3.3%)	$4,944,459 (-31.0%)	4.1%	$77.88	—	ADR	81141R100
RBLX	Roblox	21,543,528 (-7.5%)	$1,745,672 (-45.9%)	1.5%	$42.58	+149.4%	CL A	771049103
CPNG	Coupang	146,122,094 (-2.8%)	$3,447,020 (-28.8%)	2.9%	$25.72	+10.6%	CL A	22266T109
NET	Cloudflare Inc	16,823,947 (-23.0%)	$3,316,841 (-29.3%)	2.8%	$44.12	+379.5%	CL A COM	18915M107
SPOT	Spotify Technology SA	8,331,104 (-4.2%)	$4,837,955 (-20.3%)	4.0%	$154.84	+303.7%	SHS	L8681T102
DDOG	Datadog	3,961,509 (-65.3%)	$538,726 (-66.9%)	0.4%	$96.80	+63.3%	COM	23804L103
META	Meta Platforms Inc	4,399,233 (-16.8%)	$2,903,890 (-25.3%)	2.4%	$217.32	+207.1%	CL A	30303M102
PDD	PDD Holdings Inc	31,032,323 (-2.4%)	$3,518,755 (-16.3%)	2.9%	$69.50	—	SPONSORED ADS	722304102
BNTX	BioNTech ADR	1,244,867 (-84.2%)	$118,511 (-84.7%)	0.1%	$118.05	—	SPONS ADS	09075V102
TTD	The Trade Desk	22,305,995 (-23.4%)	$846,736 (-40.7%)	0.7%	$63.41	-30.1%	COM CL A	88339J105
NVDA	NVIDIA	43,867,705 (-5.8%)	$8,181,327 (-5.8%)	6.8%	$91.96	+102.4%	COM	67066G104
RACE	Ferrari ADR	3,890,014 (-1.3%)	$1,456,021 (-23.6%)	1.2%	$47.20	+747.8%	ADR	N3167Y103
DASH	Doordash Inc	7,970,062 (-3.6%)	$1,805,060 (-19.7%)	1.5%	$125.22	+87.3%	COM	25809K105
ELF	e.l.f. Beauty	7,177,659 (-2.3%)	$545,789 (-43.9%)	0.5%	$154.30	-36.2%	COM	26856L103
MSFT	Microsoft	5,544,839 (-5.4%)	$2,681,595 (-11.7%)	2.2%	$217.88	+129.8%	COM	594918104
APP	AppLovin	6,166,349 (-1.3%)	$4,155,009 (-7.4%)	3.5%	$280.65	+124.5%	COM CL A	03831W108
AZO	AutoZone	86,142 (-40.2%)	$292,151 (-52.7%)	0.2%	$2973.37	+27.1%	COM	053332102
ISRG	Intuitive Surgical	2,551,357 (-2.0%)	$1,444,987 (+24.1%)	1.2%	$261.81	+103.3%	COM NEW	46120E602
AVAV	AeroVironment	1,179,811 (-33.9%)	$285,384 (-49.2%)	0.2%	$142.79	+120.2%	COM	008073108
TEM	Tempus Ai Inc	8,741,442 (-9.8%)	$516,182 (-34.0%)	0.4%	$57.34	+36.4%	CL A	88023B103
SHOP	Shopify 'A'	31,206,232 (-12.0%)	$5,023,268 (-4.6%)	4.2%	$43.46	+269.4%	CL A	82509L107
ALNY	Alnylam Pharmaceuticals	2,600,979 (-6.8%)	$1,034,279 (-18.7%)	0.9%	$97.60	+353.4%	COM	02043Q107
WIX	Wix Com	2,854,611 (-1.3%)	$296,566 (-42.3%)	0.2%	$81.62	+48.1%	SHS	M98068105
RIVN	Rivian Automotive Inc	43,781,355 (-2.6%)	$862,931 (+30.8%)	0.7%	$20.01	-20.7%	COM CL A	76954A103
XYZ	Block Inc	9,875,845 (-15.3%)	$642,819 (-23.7%)	0.5%	$65.35	+5.6%	COM	852234103
GH	Guardant Health	4,890,026 (-4.6%)	$499,467 (+55.9%)	0.4%	$27.98	+219.7%	COM	40131M109
AMZN	Amazon.Com	29,387,070 (-7.2%)	$6,783,123 (-2.4%)	5.6%	$118.71	+92.7%	COM	023135106
JOBY	Joby Aviation Inc	49,570,755 (-1.7%)	$654,334 (-19.6%)	0.5%	$6.14	+150.1%	COM	G65163100
TSLA	Tesla Inc	1,342,801 (-19.0%)	$603,884 (-18.1%)	0.5%	$212.90	+108.2%	COM	88160R101
AUR	Aurora Innovation Class A Common	74,584,590 (-1.3%)	$286,405 (-29.7%)	0.2%	$4.52	+1.4%	COM CL A	051774107
DOCS	Doximity Inc	3,711,340 (-3.6%)	$164,338 (-41.6%)	0.1%	$33.43	+67.9%	CLASS A	26622P107
PAYC	Paycom Software	1,638,894 (-4.1%)	$261,174 (-26.6%)	0.2%	$209.09	-15.4%	COM	70432V102
SCI	Service Corp.Intl.	9,161,409 (-5.4%)	$714,315 (-11.4%)	0.6%	$50.18	+59.4%	COM	817565104
UBER	Uber Technologies	3,961,818 (-5.2%)	$323,720 (-20.9%)	0.3%	$76.80	+17.2%	COM	90353T100
FIX	Comfort Systems USA	274,742 (-33.4%)	$256,414 (-24.7%)	0.2%	$173.94	+430.6%	COM	199908104
MBLY	Mobileye Global Inc.	7,371,722 (-31.8%)	$76,961 (-49.6%)	0.1%	$30.89	-59.6%	ORD SHS	60741F104
WSO	Watsco Inc	917,492 (-2.8%)	$309,149 (-19.0%)	0.3%	$163.97	+117.8%	COM	942622200
PODD	Insulet	2,048,369 (-2.1%)	$582,228 (-9.8%)	0.5%	$182.94	+70.9%	COM	45784P101
AJG	AJ Gallagher & Co	865,260 (-4.8%)	$223,921 (-20.5%)	0.2%	$64.23	+311.4%	COM	363576109
SYM	Symbotic	12,441,000 (-1.9%)	$740,239 (+8.3%)	0.6%	$39.50	+67.2%	COM	87151X101
PBR	Petrobras Common ADR	29,523,522 (-8.0%)	$349,854 (-13.9%)	0.3%	$11.21	—	SPONSORED ADR	71654V408
GRAB	Grab Holdings	46,212,934 (-3.0%)	$230,603 (-19.6%)	0.2%	$3.68	+50.3%	ORD SHS CL A	G4124C109
PONY	Pony AI ADR	6,301,650 (-2.5%)	$91,374 (-37.1%)	0.1%	$13.20	—	ADR	732908108
WDAY	Workday Inc	1,464,991 (-4.2%)	$314,651 (-14.5%)	0.3%	$141.23	+60.9%	CL A	98138H101
ILMN	Illumina	1,626,776 (-3.6%)	$213,368 (+33.2%)	0.2%	$169.44	-30.7%	COM	452327109
MA	Mastercard Inc-Class A	1,464,206 (-6.1%)	$835,886 (-5.8%)	0.7%	$95.64	+484.4%	CL A	57636Q104
EPAM	Epam Systems Inc	1,193,056 (-7.8%)	$244,433 (+25.3%)	0.2%	$166.65	+7.0%	COM	29414B104
SQM	SQM ADR	6,233,717 (-29.7%)	$428,880 (+12.6%)	0.4%	$39.24	—	SPON ADR SER B	833635105
ETN	Eaton	673,840 (-3.4%)	$214,625 (-17.8%)	0.2%	$150.47	+135.5%	COM	G29183103
LMND	Lemonade Inc	2,866,446 (-2.6%)	$204,034 (+29.6%)	0.2%	$72.62	-7.5%	COM	52567D107
FTAI	FTAI Aviation	2,286,363 (-5.8%)	$450,071 (+11.1%)	0.4%	$111.23	+53.1%	SHS	G3730V105
RPRX	Royalty Pharma	17,008,768 (-2.1%)	$657,219 (+7.2%)	0.5%	$38.63	-1.3%	SHS CLASS A	G7709Q104
FAST	Fastenal	1,908,484 (-21.5%)	$76,587 (-35.8%)	0.1%	$18.48	+127.4%	COM	311900104
MRNA	Moderna Inc	20,580,514 (-5.8%)	$606,919 (+7.6%)	0.5%	$128.32	-78.8%	COM	60770K107
PEN	Penumbra Inc	876,325 (-3.5%)	$272,458 (+18.4%)	0.2%	$192.11	+43.8%	COM	70975L107
TXN	Texas Instruments	2,177,897 (-4.6%)	$377,843 (-10.0%)	0.3%	$151.75	+12.5%	COM	882508104
SVV	Savers Value Village	8,895,847 (-4.4%)	$83,087 (-32.6%)	0.1%	$9.90	+3.8%	COM	80517M109
CGNX	Cognex Corp	173,538 (-82.8%)	$6,244 (-86.3%)	0.0%	$45.12	-10.4%	COM	192422103
DXCM	Dexcom Inc	15,552,587 (-2.1%)	$1,032,225 (-3.4%)	0.9%	$78.31	-17.4%	COM	252131107
MLM	Martin Marietta Materials	1,159,375 (-3.0%)	$721,896 (-4.2%)	0.6%	$214.21	+190.1%	COM	573284106
W	Wayfair Inc Class A	4,002,104 (-3.5%)	$401,851 (+8.4%)	0.3%	$154.43	-37.7%	CL A	94419L101
TSM	TSMC ADR	1,336,491 (-14.5%)	$406,146 (-7.0%)	0.3%	$61.04	—	SPONSORED ADR	874039100
DKNG	DraftKings Inc	7,454,948 (-3.0%)	$256,898 (-10.7%)	0.2%	$39.97	-17.7%	COM CL A	26142V105
SNOW	Snowflake Inc	2,735,752 (-2.1%)	$600,115 (-4.8%)	0.5%	$231.61	+5.4%	COM	833445109
RDDT	Reddit	5,980,918 (-2.1%)	$1,374,834 (-2.1%)	1.1%	$119.38	+76.2%	CL A	75734B100
NYT	New York Times Co	3,025,119 (-3.8%)	$210,004 (+16.3%)	0.2%	$49.03	+26.1%	COM	650111107
MKL	Markel Corp	188,437 (-4.3%)	$405,074 (+7.6%)	0.3%	$598.93	+238.3%	COM	570535104
MP	MP Materials	717,292 (-24.9%)	$36,238 (-43.4%)	0.0%	$29.37	+115.9%	COM CL A	553368101
DNA	Ginkgo Bioworks Holdings Inc	2,391,649 (-26.1%)	$19,875 (-57.9%)	0.0%	$10.02	+7.4%	CL A COM	37611X209
KSPI	Kaspi.kz ADR	4,673,083 (-2.4%)	$365,108 (-6.6%)	0.3%	$118.13	—	ADR	48581R205
FND	Floor & Decor Holdings	1,587,372 (-3.8%)	$96,655 (-20.5%)	0.1%	$89.66	-27.7%	CL A	339750101
ARM	Arm Hdgs ADR	612,528 (-4.4%)	$66,955 (-26.2%)	0.1%	$141.49	—	SPON ADR	042068205
AFRM	Affirm Holdings Inc Class A	5,482,943 (-7.0%)	$408,095 (-5.3%)	0.3%	$85.35	-15.7%	COM CL A	00827B106
HDB	HDFC Bank ADR	5,746,819 (-15.6%)	$209,989 (-9.7%)	0.2%	$47.40	—	ADR REPS 3 SHS	40415F101
ADSK	Autodesk	706,289 (-2.8%)	$209,069 (-9.4%)	0.2%	$205.72	+47.1%	COM	052769106
MKTX	MarketAxess Holdings	39,115 (-76.2%)	$7,090 (-75.2%)	0.0%	$171.71	-1.3%	COM	57060D108
ALB	Albemarle Corp	352,618 (-2.2%)	$49,874 (+70.6%)	0.0%	$85.52	+32.4%	COM	012653101
AEHR	Aehr Test Systems	1,290,734 (-15.7%)	$26,060 (-43.5%)	0.0%	$18.22	+32.8%	COM	00760J108
KNF	Knife River	2,128,401 (-3.2%)	$149,733 (-11.4%)	0.1%	$81.68	-14.0%	COM	498894104
FMX	Fomento Economico Mexicano Sab ADR	3,496,366 (-6.8%)	$353,378 (-4.5%)	0.3%	$116.26	—	SPON ADR UNITS	344419106
LINE	Lineage Inc	2,786,283 (-5.7%)	$97,520 (-14.6%)	0.1%	$69.53	—	COM	53566V106
SG	Sweetgreen	10,666,540 (-3.6%)	$72,106 (-18.3%)	0.1%	$14.64	-53.0%	COM CL A	87043Q108
CRM	Salesforce.com	1,062,815 (-5.1%)	$281,550 (+6.0%)	0.2%	$309.01	-19.7%	COM	79466L302
BROS	Dutch Bros	3,230,676 (-7.6%)	$197,782 (+8.1%)	0.2%	$35.25	+61.2%	CL A	26701L100
CBRE	Cbre Group Inc	2,687,007 (-5.1%)	$432,044 (-3.1%)	0.4%	$50.56	+211.0%	CL A	12504L109
WSC	WillScot Hdgs	4,711,287 (-3.0%)	$88,714 (-13.5%)	0.1%	$34.00	-40.7%	COM CL A	971378104
LU	Lufax Holding Ltd	7,942,847 (-5.5%)	$20,334 (-40.4%)	0.0%	$3.47	—	COM	54975P201
SANA	Sana Biotechnology Inc	6,609,065 (-42.2%)	$26,899 (-33.7%)	0.0%	$26.88	-83.3%	COM	799566104
ECL	Ecolab	691,003 (-2.9%)	$181,402 (-6.9%)	0.2%	$189.08	+40.5%	COM	278865100
PG	Procter & Gamble	896,945 (-2.4%)	$128,541 (-9.0%)	0.1%	$101.64	+44.8%	COM	742718109
SN	SharkNinja	1,988,633 (-2.6%)	$222,528 (+5.7%)	0.2%	$90.54	+8.9%	ORD SHS	G8068L108
ADI	Analog Devices	568,465 (-2.1%)	$154,168 (+8.0%)	0.1%	$148.67	+68.6%	COM	032654105
ENPH	Enphase Energy Inc	2,587,853 (-2.9%)	$82,941 (-12.1%)	0.1%	$92.98	-65.2%	COM	29355A107
CP	Canadian Pacific Kansas City Ltd	305,553 (-31.9%)	$22,525 (-32.7%)	0.0%	$76.45	-3.7%	COM	13646K108
BAP	Credicorp	1,432,893 (-9.5%)	$411,240 (-2.4%)	0.3%	$140.92	+87.9%	COM	G2519Y108
BC	Brunswick Corp	1,678,211 (-7.3%)	$124,590 (+8.9%)	0.1%	$81.24	-16.9%	COM	117043109
VRTX	Vertex Pharmaceuticals Inc	201,088 (-2.9%)	$91,165 (+12.4%)	0.1%	$445.03	-3.1%	COM	92532F100
FN	Fabrinet	464,564 (-16.0%)	$211,507 (+4.9%)	0.2%	$175.04	+148.5%	SHS	G3323L100
SPGI	S&P Global Inc	724,613 (-4.7%)	$378,676 (+2.3%)	0.3%	$307.42	+60.8%	COM	78409V104
INTU	Intuit	131,793 (-6.0%)	$87,302 (-8.8%)	0.1%	$464.42	+42.3%	COM	461202103
FROG	JFrog Ltd	871,028 (-10.5%)	$54,404 (+18.1%)	0.0%	$48.06	+18.3%	ORD SHS	M6191J100
WRBY	Warby Parker Inc	230,057 (-49.6%)	$5,013 (-60.2%)	0.0%	$46.86	-53.6%	CL A COM	93403J106
IBN	ICICI Bank ADR	4,709,302 (-3.6%)	$140,337 (-5.0%)	0.1%	$12.91	—	ADR	45104G104
CSCO	Cisco Systems	1,006,219 (-1.9%)	$77,509 (+10.4%)	0.1%	$40.63	+81.6%	COM	17275R102
BEKE	KE Holdings ADR	128 (-100.0%)	$2 (-100.0%)	0.0%	$58.86	—	ADR	482497104
WMS	Advanced Drainage Systems	2,244,014 (-6.3%)	$325,001 (-2.2%)	0.3%	$89.04	+62.5%	COM	00790R104
INFY	Infosys Ltd ADR	2,107,125 (-23.2%)	$37,549 (-15.9%)	0.0%	$16.96	—	SPONSORED ADR	456788108
ELV	Elevance Health Inc	1,977,899 (-8.7%)	$693,352 (-1.0%)	0.6%	$149.47	+125.3%	COM	036752103
RYAAY	Ryanair ADR	11,343,819 (-15.9%)	$818,910 (+0.8%)	0.7%	$60.96	—	SPONSORED ADR NE	783513203
MEDP	Medpace Holdings	547,078 (-6.4%)	$307,266 (+2.2%)	0.3%	$315.43	+80.0%	COM	58506Q109
IREN	IREN	527,686 (-6.3%)	$19,931 (-24.6%)	0.0%	$24.29	+112.4%	COM	Q4982L109
ES	Eversource Energy	139,244 (-37.4%)	$9,375 (-40.8%)	0.0%	$58.66	+18.6%	COM	30040W108
ON	On Semiconductor Corp	4,725,516 (-6.7%)	$255,887 (+2.5%)	0.2%	$50.33	+1.9%	COM	682189105
QS	QuantumScape Corp	1,459,100 (-14.6%)	$15,204 (-27.8%)	0.0%	$17.31	-20.4%	COM CL A	74767V109
PAYX	Paychex	304,062 (-1.5%)	$34,110 (-12.9%)	0.0%	$141.76	-17.8%	COM	704326107
IPGP	IPG Photonics Corp	383,984 (-5.7%)	$27,493 (-14.8%)	0.0%	$114.59	-28.8%	COM	44980X109
BUR	Burford Capital	398,433 (-43.0%)	$3,569 (-57.1%)	0.0%	$12.84	-23.7%	ORD SHS	G17977110
SDGR	Schrodinger	835,488 (-14.3%)	$14,939 (-23.6%)	0.0%	$28.05	-32.4%	COM	80810D103
DE	Deere & Co	524,786 (-3.3%)	$244,325 (-1.5%)	0.2%	$327.27	+42.9%	COM	244199105
SBUX	Starbucks Corp	645,865 (-6.0%)	$54,388 (-6.5%)	0.0%	$89.24	-5.8%	COM	855244109
UNH	UnitedHealth	39,537 (-18.7%)	$13,052 (-22.3%)	0.0%	$472.44	-28.6%	COM	91324P102
CDNS	Cadence Design Systems	29,025 (-19.7%)	$9,073 (-28.6%)	0.0%	$278.09	+17.3%	COM	127387108
ZG	Zillow Group Inc Class A	45,840 (-48.9%)	$3,128 (-53.2%)	0.0%	$52.82	+33.1%	CL A	98954M101
ITUB	Itau Unibanco Holding SA-ADR	9,654,305 (-2.3%)	$69,125 (-4.7%)	0.1%	$8.98	—	SPON ADR REP PFD	465562106
MSA	MSA Safety	69,128 (-16.7%)	$11,070 (-22.5%)	0.0%	$167.93	-3.0%	COM	553498106
SNPS	Synopsys	21,166 (-20.5%)	$9,942 (-24.3%)	0.0%	$499.48	-11.1%	COM	871607107
TTEK	Tetra Tech	428,775 (-18.0%)	$14,381 (-17.6%)	0.0%	$33.29	+1.6%	COM	88162G103
EXC	Exelon Corporation	309,409 (-15.5%)	$13,487 (-18.2%)	0.0%	$40.91	+11.1%	COM	30161N101
APPN	Appian Corp	941,106 (-5.3%)	$33,334 (+9.7%)	0.0%	$50.02	-28.8%	CL A	03782L101
NEE	NextEra Energy	207,039 (-19.6%)	$16,621 (-14.5%)	0.0%	$70.83	+16.5%	COM	65339F101
AMT	American Tower Corp REIT	56,181 (-13.9%)	$9,864 (-21.4%)	0.0%	$178.56	+1.0%	COM	03027X100
BEPC	Brookfield Renewable	412,931 (-22.2%)	$15,832 (-13.3%)	0.0%	$29.14	+37.2%	CL A	11285B108
WAB	Wabtec	73,744 (-18.5%)	$15,741 (-13.2%)	0.0%	$101.37	+102.6%	COM	929740108
FTS	Fortis	265,404 (-15.9%)	$13,817 (-13.7%)	0.0%	$41.23	+23.3%	COM	349553107
KO	Coca Cola	760,904 (-1.2%)	$53,195 (+4.1%)	0.0%	$37.37	+85.7%	COM	191216100
CSL	Carlisle Companies	22,884 (-19.0%)	$7,320 (-21.3%)	0.0%	$331.86	-2.8%	COM	142339100
SKYT	SkyWater Technology	1,564,775 (-3.8%)	$28,416 (-6.4%)	0.0%	$8.02	+116.7%	COM	83089J108
CME	CME Group Inc	446,036 (-2.5%)	$121,804 (-1.4%)	0.1%	$206.28	+31.2%	COM	12572Q105
UPWK	Upwork Inc	1,030,754 (-12.5%)	$20,430 (-6.6%)	0.0%	$24.52	-25.2%	COM	91688F104
WEC	WEC Energy Group	129,676 (-1.3%)	$13,676 (-9.1%)	0.0%	$92.08	+19.8%	COM	92939U106
TROW	T. Rowe Price	482,941 (-2.3%)	$49,444 (-2.5%)	0.0%	$103.03	-0.8%	COM	74144T108
SUI	Sun Communities Inc REIT	42,273 (-12.3%)	$5,238 (-15.8%)	0.0%	$132.13	—	COM	866674104
MCO	Moody's Corp	687,046 (-7.0%)	$350,977 (-0.3%)	0.3%	$71.93	+577.5%	COM	615369105
MCD	McDonald's	126,880 (-2.8%)	$38,778 (-2.2%)	0.0%	$147.77	+106.5%	COM	580135101
AAPL	Apple	663,344 (-6.7%)	$180,337 (-0.4%)	0.1%	$132.22	+103.0%	COM	037833100
PLD	Prologis Inc REIT	41,787 (-20.0%)	$5,335 (-10.8%)	0.0%	$101.67	+21.8%	COM	74340W103
BCH	Banco De Chile ADR	732,470 (-21.7%)	$27,834 (-1.9%)	0.0%	$23.70	—	COM	059520106
EW	Edwards Lifesciences Corp	516,311 (-9.8%)	$44,016 (-1.1%)	0.0%	$72.91	+12.6%	COM	28176E108
PEP	Pepsico	650,222 (-1.9%)	$93,320 (+0.3%)	0.1%	$111.82	+30.5%	COM	713448108
RAMP	Liveramp Holdings Inc	939,961 (-8.4%)	$27,607 (-0.9%)	0.0%	$41.69	-31.2%	COM	53815P108
LI	Li Auto ADR	53 (-47.5%)	$1 (-64.9%)	0.0%	$28.79	—	SPONS ADS	50202M102
ONC	BeOne Medicines Ltd ADR	6 (-25.0%)	$2 (-33.1%)	0.0%	$340.75	—	SPONSORED ADR	07725L102
BIDU	Baidu.com Sponsored ADR	30 (-9.1%)	$4 (-9.8%)	0.0%	$131.76	—	SPON ADR REP A	056752108

Unchanged Positions (26)

TME Tencent Music Entertainment ADR 0.2%

Value ($000) $228,633 Shares 13,042,381 Est. Cost $13.46 Unrealized —

RXRX Recursion Pharmaceuticals Inc 0.1%

Value ($000) $97,240 Shares 23,774,972 Est. Cost $24.92 Unrealized -80.1%

HTFL HeartFlow 0.1%

Value ($000) $87,625 Shares 3,005,998 Est. Cost $32.24 Unrealized -0.1%

CRCL Circle Internet Group 0.0%

Value ($000) $14,777 Shares 186,337 Est. Cost $162.91 Unrealized -36.6%

PGNY Progyny 0.0%

Value ($000) $32,426 Shares 1,262,691 Est. Cost $32.37 Unrealized -29.0%

CHYM Chime Financial Inc 0.0%

Value ($000) $17,083 Shares 678,717 Est. Cost $32.95 Unrealized -35.5%

MSI Motorola Solutions 0.0%

Value ($000) $14,857 Shares 38,760 Est. Cost $448.33 Unrealized -10.6%

CPA Copa Holdings S A 0.3%

Value ($000) $331,325 Shares 2,747,078 Est. Cost $67.20 Unrealized +80.5%

— Albemarle 7.25 Conv Pref 2027 0.0%

Value ($000) $7,064 Shares 120,000 Est. Cost $59.00 Unrealized —

PBR/A Petrobras Pref ADR 0.0%

Value ($000) $42,474 Shares 3,768,768 Est. Cost $9.62 Unrealized —

TBBB BBB Foods 0.0%

Value ($000) $6,506 Shares 194,851 Est. Cost $26.96 Unrealized +10.9%

RXST RxSight Inc 0.0%

Value ($000) $7,223 Shares 693,146 Est. Cost $35.90 Unrealized -72.0%

PGR Progressive 0.0%

Value ($000) $12,435 Shares 54,606 Est. Cost $114.52 Unrealized +85.4%

EOG EOG Resources 0.0%

Value ($000) $15,125 Shares 144,033 Est. Cost $115.22 Unrealized -6.9%

NKE Nike 0.0%

Value ($000) $8,141 Shares 127,778 Est. Cost $101.06 Unrealized -35.8%

CRWD CrowdStrike Holdings 0.0%

Value ($000) $13,053 Shares 27,845 Est. Cost $284.07 Unrealized +79.3%

BSLK Bolt Projects Holdings Inc. 0.0%

Value ($000) $99 Shares 123,290 Est. Cost $4.41 Unrealized -46.6%

AER AerCap Hdgs 0.0%

Value ($000) $2,313 Shares 16,092 Est. Cost $107.75 Unrealized +22.9%

ADBE Adobe Inc. 0.0%

Value ($000) $17,679 Shares 50,514 Est. Cost $358.75 Unrealized -5.2%

FRPT Freshpet Inc 0.0%

Value ($000) $1,438 Shares 23,601 Est. Cost $68.42 Unrealized -17.1%

BKNG Booking Holdings Inc 0.0%

Value ($000) $16,377 Shares 3,058 Est. Cost $2252.47 Unrealized +128.1%

MDT Medtronic 0.0%

Value ($000) $45,636 Shares 475,074 Est. Cost $91.73 Unrealized +5.9%

EIX Edison International 0.0%

Value ($000) $1,134 Shares 18,900 Est. Cost $78.92 Unrealized -27.4%

NVCR Novocure Ltd 0.0%

Value ($000) $14,498 Shares 1,121,274 Est. Cost $56.82 Unrealized -77.4%

ED Consolidated Edison 0.0%

Value ($000) $1,896 Shares 19,093 Est. Cost $81.21 Unrealized +21.7%

STN Stantec Inc 0.0%

Value ($000) $39 Shares 413 Est. Cost $80.80 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TME	Tencent Music Entertainment ADR	13,042,381	$228,633	0.2%	$13.46	—	SPONSORED ADS	88034P109
RXRX	Recursion Pharmaceuticals Inc	23,774,972	$97,240	0.1%	$24.92	-80.1%	CL A	75629V104
HTFL	HeartFlow	3,005,998	$87,625	0.1%	$32.24	-0.1%	COM	42238D107
CRCL	Circle Internet Group	186,337	$14,777	0.0%	$162.91	-36.6%	COM CL A	172573107
PGNY	Progyny	1,262,691	$32,426	0.0%	$32.37	-29.0%	COM	74340E103
CHYM	Chime Financial Inc	678,717	$17,083	0.0%	$32.95	-35.5%	COM CL A	16935C109
MSI	Motorola Solutions	38,760	$14,857	0.0%	$448.33	-10.6%	COM NEW	620076307
CPA	Copa Holdings S A	2,747,078	$331,325	0.3%	$67.20	+80.5%	CL A	P31076105
—	Albemarle 7.25 Conv Pref 2027	120,000	$7,064	0.0%	$59.00	—	SPN ADS COM A	012653200
PBR/A	Petrobras Pref ADR	3,768,768	$42,474	0.0%	$9.62	—	SP ADR NON VTG	71654V101
TBBB	BBB Foods	194,851	$6,506	0.0%	$26.96	+10.9%	CL A COM	G0896C103
RXST	RxSight Inc	693,146	$7,223	0.0%	$35.90	-72.0%	COM	78349D107
PGR	Progressive	54,606	$12,435	0.0%	$114.52	+85.4%	COM	743315103
EOG	EOG Resources	144,033	$15,125	0.0%	$115.22	-6.9%	COM	26875P101
NKE	Nike	127,778	$8,141	0.0%	$101.06	-35.8%	COM	654106103
CRWD	CrowdStrike Holdings	27,845	$13,053	0.0%	$284.07	+79.3%	COM	22788C105
BSLK	Bolt Projects Holdings Inc.	123,290	$99	0.0%	$4.41	-46.6%	COM	09769B206
AER	AerCap Hdgs	16,092	$2,313	0.0%	$107.75	+22.9%	COM	N00985106
ADBE	Adobe Inc.	50,514	$17,679	0.0%	$358.75	-5.2%	COM	00724F101
FRPT	Freshpet Inc	23,601	$1,438	0.0%	$68.42	-17.1%	COM	358039105
BKNG	Booking Holdings Inc	3,058	$16,377	0.0%	$2252.47	+128.1%	COM	09857L108
MDT	Medtronic	475,074	$45,636	0.0%	$91.73	+5.9%	COM	G5960L103
EIX	Edison International	18,900	$1,134	0.0%	$78.92	-27.4%	COM	281020107
NVCR	Novocure Ltd	1,121,274	$14,498	0.0%	$56.82	-77.4%	ORD SHS	G6674U108
ED	Consolidated Edison	19,093	$1,896	0.0%	$81.21	+21.7%	COM	209115104
STN	Stantec Inc	413	$39	0.0%	$80.80	—	COM	85472N109