# EDGAR Filing Document

**Accession Number:** 0000932471
**File Stem:** 0000932471-26-000027
**Filing Date:** 2026-2
**Character Count:** 105050
**Document Hash:** b6e73a098382f0b019e04edf52a3daec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000932471-26-000027.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000932471-26-000027

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD HORIZON FUNDS
- **CENTRAL INDEX KEY:** 0000932471

**ORGANIZATION NAME:**
- **EIN:** 232787277
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07239
- **FILM NUMBER:** 26688287

**BUSINESS ADDRESS:**
- **STREET 1:** P O BOX 2600
- **STREET 2:** M33
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD HORIZON FUND INC
- **DATE OF NAME CHANGE:** 19941107

## Series and Classes Contracts Data

### Vanguard Global Equity Fund (Series ID: S000002595)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000007115 | Investor Shares | VHGEX           |

## Nport-Ex

Vanguard<sup>®</sup> Global Equity Fund

#### Schedule of Investments (unaudited)
As of December 31, 2025

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | &nbsp;&nbsp;&nbsp;&nbsp;Market<br> Value<br> ($000) |
| **Common Stocks (96.2%)** | **Common Stocks (96.2%)** | **Common Stocks (96.2%)** | **Common Stocks (96.2%)** |
| **Brazil (1.4%)** | **Brazil (1.4%)** | **Brazil (1.4%)** | **Brazil (1.4%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;NU Holdings Ltd. Class A | 1895959 | &nbsp;&nbsp;&nbsp;&nbsp; 31738 |
|  | &nbsp;&nbsp;&nbsp;Ambev SA | 11846210 | &nbsp;&nbsp;&nbsp;&nbsp; 29819 |
|  | &nbsp;&nbsp;&nbsp;B3 SA - Brasil Bolsa Balcao | 11119900 | &nbsp;&nbsp;&nbsp;&nbsp; 28310 |
|  | &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA - Petrobras ADR (XNYS) | 1520721 | &nbsp;&nbsp;&nbsp;&nbsp; 18021 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **107888** |
| **Canada (2.3%)** | **Canada (2.3%)** | **Canada (2.3%)** | **Canada (2.3%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Shopify Inc. Class A (XTSE) | &nbsp;&nbsp;&nbsp;&nbsp;398431 | &nbsp;&nbsp;&nbsp;&nbsp; 64136 |
|  | &nbsp;&nbsp;&nbsp;Magna International Inc. | 1065196 | &nbsp;&nbsp;&nbsp;&nbsp; 56775 |
|  | &nbsp;&nbsp;&nbsp;Brookfield Corp. | &nbsp;&nbsp;&nbsp;&nbsp;604803 | &nbsp;&nbsp;&nbsp;&nbsp; 27754 |
|  | &nbsp;&nbsp;&nbsp;Stella-Jones Inc. | &nbsp;&nbsp;&nbsp;&nbsp;395448 | &nbsp;&nbsp;&nbsp;&nbsp; 24527 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **173192** |
| **China (3.1%)** | **China (3.1%)** | **China (3.1%)** | **China (3.1%)** |
|  | &nbsp;&nbsp;&nbsp;Contemporary Amperex Technology Co. Ltd. Class A (XSHE) | &nbsp;&nbsp;&nbsp;&nbsp;942100 | &nbsp;&nbsp;&nbsp;&nbsp; 49538 |
|  | &nbsp;&nbsp;&nbsp;Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;593874 | &nbsp;&nbsp;&nbsp;&nbsp; 45576 |
|  | &nbsp;&nbsp;&nbsp;Alibaba Group Holding Ltd. | 1966779 | &nbsp;&nbsp;&nbsp;&nbsp; 36112 |
|  | &nbsp;&nbsp;&nbsp;China Overseas Land & Investment Ltd. | 22171000 | &nbsp;&nbsp;&nbsp;&nbsp; 35014 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;PDD Holdings Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;226792 | &nbsp;&nbsp;&nbsp;&nbsp; 25716 |
|  | &nbsp;&nbsp;&nbsp;ANTA Sports Products Ltd. | 2358743 | &nbsp;&nbsp;&nbsp;&nbsp; 24494 |
|  | &nbsp;&nbsp;&nbsp;Kweichow Moutai Co. Ltd. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99900 | &nbsp;&nbsp;&nbsp;&nbsp; 19699 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Li Auto Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90858 | &nbsp;&nbsp;&nbsp;&nbsp; 767 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **236916** |
| **Denmark (0.3%)** | **Denmark (0.3%)** | **Denmark (0.3%)** | **Denmark (0.3%)** |
|  | &nbsp;&nbsp;&nbsp;Novo Nordisk A/S Class B | &nbsp;&nbsp;&nbsp;&nbsp;502955 | &nbsp;&nbsp;&nbsp;&nbsp; 25509 |
| **Finland (0.5%)** | **Finland (0.5%)** | **Finland (0.5%)** | **Finland (0.5%)** |
|  | &nbsp;&nbsp;&nbsp;Nokia OYJ ADR | 4164313 | &nbsp;&nbsp;&nbsp;&nbsp; 26943 |
|  | &nbsp;&nbsp;&nbsp;Nokia OYJ | 1419447 | &nbsp;&nbsp;&nbsp;&nbsp; 9151 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **36094** |
| **France (2.9%)** | **France (2.9%)** | **France (2.9%)** | **France (2.9%)** |
|  | &nbsp;&nbsp;&nbsp;Rexel SA | 1206319 | &nbsp;&nbsp;&nbsp;&nbsp; 47315 |
|  | &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;349141 | &nbsp;&nbsp;&nbsp;&nbsp; 33781 |
|  | &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | 1017313 | &nbsp;&nbsp;&nbsp;&nbsp; 33720 |
|  | &nbsp;&nbsp;&nbsp;ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;705205 | &nbsp;&nbsp;&nbsp;&nbsp; 32383 |
|  | &nbsp;&nbsp;&nbsp;Hermes International SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10171 | &nbsp;&nbsp;&nbsp;&nbsp; 25253 |
|  | &nbsp;&nbsp;&nbsp;Edenred SE | &nbsp;&nbsp;&nbsp;&nbsp;924689 | &nbsp;&nbsp;&nbsp;&nbsp; 20441 |
|  | &nbsp;&nbsp;&nbsp;Nexans SA | &nbsp;&nbsp;&nbsp;&nbsp;126002 | &nbsp;&nbsp;&nbsp;&nbsp; 18522 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Amundi SA | &nbsp;&nbsp;&nbsp;&nbsp;135117 | &nbsp;&nbsp;&nbsp;&nbsp; 11167 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **222582** |
| **Germany (2.2%)** | **Germany (2.2%)** | **Germany (2.2%)** | **Germany (2.2%)** |
|  | &nbsp;&nbsp;&nbsp;Daimler Truck Holding AG | 1311896 | &nbsp;&nbsp;&nbsp;&nbsp; 56822 |
|  | &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;924698 | &nbsp;&nbsp;&nbsp;&nbsp; 48656 |
|  | &nbsp;&nbsp;&nbsp;Fresenius Medical Care AG | &nbsp;&nbsp;&nbsp;&nbsp;887763 | &nbsp;&nbsp;&nbsp;&nbsp; 42405 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Auto1 Group SE | &nbsp;&nbsp;&nbsp;&nbsp;538121 | &nbsp;&nbsp;&nbsp;&nbsp; 17062 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **164945** |
| **Hong Kong (0.3%)** | **Hong Kong (0.3%)** | **Hong Kong (0.3%)** | **Hong Kong (0.3%)** |
|  | &nbsp;&nbsp;&nbsp;Galaxy Entertainment Group Ltd. | 5385825 | &nbsp;&nbsp;&nbsp;&nbsp; 26556 |
| **India (0.5%)** | **India (0.5%)** | **India (0.5%)** | **India (0.5%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Reliance Industries Ltd. GDR | &nbsp;&nbsp;&nbsp;&nbsp;507405 | &nbsp;&nbsp;&nbsp;&nbsp; 35528 |
| **Indonesia (0.1%)** | **Indonesia (0.1%)** | **Indonesia (0.1%)** | **Indonesia (0.1%)** |
|  | &nbsp;&nbsp;&nbsp;Bank Rakyat Indonesia Persero Tbk PT | 52445000 | &nbsp;&nbsp;&nbsp;&nbsp; 11486 |
| **Ireland (0.4%)** | **Ireland (0.4%)** | **Ireland (0.4%)** | **Ireland (0.4%)** |
|  | &nbsp;&nbsp;&nbsp;Bank of Ireland Group plc | 1464625 | &nbsp;&nbsp;&nbsp;&nbsp; 28011 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | &nbsp;&nbsp;&nbsp;&nbsp;Market<br> Value<br> ($000) |
| **Israel (0.2%)** | **Israel (0.2%)** | **Israel (0.2%)** | **Israel (0.2%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Wix.com Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;130627 | &nbsp;&nbsp;&nbsp;&nbsp; 13571 |
| **Italy (1.4%)** | **Italy (1.4%)** | **Italy (1.4%)** | **Italy (1.4%)** |
|  | &nbsp;&nbsp;&nbsp;Ryanair Holdings plc ADR | &nbsp;&nbsp;&nbsp;&nbsp;935366 | &nbsp;&nbsp;&nbsp;&nbsp; 67524 |
|  | &nbsp;&nbsp;&nbsp;Enel SpA | 3170221 | &nbsp;&nbsp;&nbsp;&nbsp; 32962 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Poste Italiane SpA | &nbsp;&nbsp;&nbsp;&nbsp;219316 | &nbsp;&nbsp;&nbsp;&nbsp; 5506 |
|  | &nbsp;&nbsp;&nbsp;Saipem SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp; 43 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **106035** |
| **Japan (2.6%)** | **Japan (2.6%)** | **Japan (2.6%)** | **Japan (2.6%)** |
|  | &nbsp;&nbsp;&nbsp;Daikin Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;311200 | &nbsp;&nbsp;&nbsp;&nbsp; 39800 |
|  | &nbsp;&nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;104100 | &nbsp;&nbsp;&nbsp;&nbsp; 37656 |
|  | &nbsp;&nbsp;&nbsp;TDK Corp. | 1822800 | &nbsp;&nbsp;&nbsp;&nbsp; 25788 |
|  | &nbsp;&nbsp;&nbsp;Disco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77200 | &nbsp;&nbsp;&nbsp;&nbsp; 23520 |
|  | &nbsp;&nbsp;&nbsp;Kokusai Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;605900 | &nbsp;&nbsp;&nbsp;&nbsp; 21190 |
|  | &nbsp;&nbsp;&nbsp;Cosmos Pharmaceutical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;357700 | &nbsp;&nbsp;&nbsp;&nbsp; 18113 |
|  | &nbsp;&nbsp;&nbsp;Nippon Paint Holdings Co. Ltd. | 2607200 | &nbsp;&nbsp;&nbsp;&nbsp; 17457 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Rakuten Group Inc. | 2690000 | &nbsp;&nbsp;&nbsp;&nbsp; 17237 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **200761** |
| **Netherlands (5.4%)** | **Netherlands (5.4%)** | **Netherlands (5.4%)** | **Netherlands (5.4%)** |
|  | &nbsp;&nbsp;&nbsp;Prosus NV | 1985653 | &nbsp;&nbsp;&nbsp;&nbsp; 122950 |
|  | &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82690 | &nbsp;&nbsp;&nbsp;&nbsp; 89100 |
| <sup>\*,1</sup> | &nbsp;&nbsp;&nbsp;Adyen NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45781 | &nbsp;&nbsp;&nbsp;&nbsp; 73825 |
|  | &nbsp;&nbsp;&nbsp;ING Groep NV | 1581630 | &nbsp;&nbsp;&nbsp;&nbsp; 44457 |
|  | &nbsp;&nbsp;&nbsp;Randstad NV | &nbsp;&nbsp;&nbsp;&nbsp;933998 | &nbsp;&nbsp;&nbsp;&nbsp; 35459 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Argenx SE ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28476 | &nbsp;&nbsp;&nbsp;&nbsp; 23947 |
|  | &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28937 | &nbsp;&nbsp;&nbsp;&nbsp; 17518 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **407256** |
| **Other (0.9%)** | **Other (0.9%)** | **Other (0.9%)** | **Other (0.9%)** |
| <sup>2,3</sup> | &nbsp;&nbsp;&nbsp;Vanguard Growth ETF | &nbsp;&nbsp;&nbsp;&nbsp;142675 | &nbsp;&nbsp;&nbsp;&nbsp; 69605 |
| **Russia (0.0%)** | **Russia (0.0%)** | **Russia (0.0%)** | **Russia (0.0%)** |
| <sup>\*,4</sup> | &nbsp;&nbsp;&nbsp;Sberbank of Russia PJSC | 3912108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>\*,4</sup> | &nbsp;&nbsp;&nbsp;VK IPJSC GDR | &nbsp;&nbsp;&nbsp;&nbsp;128137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>\*,4</sup> | &nbsp;&nbsp;&nbsp;Severstal PAO GDR (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;520152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  | **—** |
| **Singapore (0.4%)** | **Singapore (0.4%)** | **Singapore (0.4%)** | **Singapore (0.4%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Sea Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;213399 | &nbsp;&nbsp;&nbsp;&nbsp; 27223 |
| **South Korea (2.4%)** | **South Korea (2.4%)** | **South Korea (2.4%)** | **South Korea (2.4%)** |
|  | &nbsp;&nbsp;&nbsp;Samsung Electronics Co. Ltd. (XKRX) | 1051139 | &nbsp;&nbsp;&nbsp;&nbsp; 88101 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Coupang Inc. | 2439015 | &nbsp;&nbsp;&nbsp;&nbsp; 57537 |
|  | &nbsp;&nbsp;&nbsp;Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;619705 | &nbsp;&nbsp;&nbsp;&nbsp; 32999 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **178637** |
| **Sweden (0.6%)** | **Sweden (0.6%)** | **Sweden (0.6%)** | **Sweden (0.6%)** |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Spotify Technology SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38650 | &nbsp;&nbsp;&nbsp;&nbsp; 22444 |
|  | &nbsp;&nbsp;&nbsp;Epiroc AB Class B | 1009955 | &nbsp;&nbsp;&nbsp;&nbsp; 20319 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **42763** |
| **Switzerland (1.5%)** | **Switzerland (1.5%)** | **Switzerland (1.5%)** | **Switzerland (1.5%)** |
|  | &nbsp;&nbsp;&nbsp;UBS Group AG (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;956756 | &nbsp;&nbsp;&nbsp;&nbsp; 44178 |
|  | &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA Class A (Registered) | &nbsp;&nbsp;&nbsp;&nbsp;172071 | &nbsp;&nbsp;&nbsp;&nbsp; 37107 |
|  | &nbsp;&nbsp;&nbsp;Julius Baer Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;381938 | &nbsp;&nbsp;&nbsp;&nbsp; 29841 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **111126** |
| **Taiwan (3.4%)** | **Taiwan (3.4%)** | **Taiwan (3.4%)** | **Taiwan (3.4%)** |
|  | &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. (XTAI) | 3184000 | &nbsp;&nbsp;&nbsp;&nbsp; 156517 |
|  | &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;341170 | &nbsp;&nbsp;&nbsp;&nbsp; 103678 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **260195** |
| **United Kingdom (4.2%)** | **United Kingdom (4.2%)** | **United Kingdom (4.2%)** | **United Kingdom (4.2%)** |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;CRH plc (SGMX) | &nbsp;&nbsp;&nbsp;&nbsp;503732 | &nbsp;&nbsp;&nbsp;&nbsp; 62594 |
|  | &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group plc | &nbsp;&nbsp;&nbsp;&nbsp;518336 | &nbsp;&nbsp;&nbsp;&nbsp; 41943 |
|  | &nbsp;&nbsp;&nbsp;HSBC Holdings plc | 2609487 | &nbsp;&nbsp;&nbsp;&nbsp; 41063 |
|  | &nbsp;&nbsp;&nbsp;Shell plc | 1063696 | &nbsp;&nbsp;&nbsp;&nbsp; 39404 |
|  | &nbsp;&nbsp;&nbsp;J Sainsbury plc | 8382374 | &nbsp;&nbsp;&nbsp;&nbsp; 36725 |
|  | &nbsp;&nbsp;&nbsp;Games Workshop Group plc | &nbsp;&nbsp;&nbsp;&nbsp;126765 | &nbsp;&nbsp;&nbsp;&nbsp; 32250 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Auto Trader Group plc | 3445445 | &nbsp;&nbsp;&nbsp;&nbsp; 27182 |
|  | &nbsp;&nbsp;&nbsp;Barclays plc | 3612583 | &nbsp;&nbsp;&nbsp;&nbsp; 23125 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | &nbsp;&nbsp;&nbsp;&nbsp;Market<br> Value<br> ($000) |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Flutter Entertainment plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56275 | &nbsp;&nbsp;&nbsp;&nbsp; 12157 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; **316443** |
| **United States (59.2%)** | **United States (59.2%)** | **United States (59.2%)** | **United States (59.2%)** |
|  | &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 2300724 | &nbsp;&nbsp;&nbsp;&nbsp; 429085 |
|  | &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;645518 | &nbsp;&nbsp;&nbsp;&nbsp; 312185 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Amazon.com Inc. | 1207219 | &nbsp;&nbsp;&nbsp;&nbsp; 278650 |
|  | &nbsp;&nbsp;&nbsp;Mastercard Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;258017 | &nbsp;&nbsp;&nbsp;&nbsp; 147297 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class C | &nbsp;&nbsp;&nbsp;&nbsp;381394 | &nbsp;&nbsp;&nbsp;&nbsp; 119681 |
|  | &nbsp;&nbsp;&nbsp;Meta Platforms Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;159909 | &nbsp;&nbsp;&nbsp;&nbsp; 105554 |
|  | &nbsp;&nbsp;&nbsp;Alphabet Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;318499 | &nbsp;&nbsp;&nbsp;&nbsp; 99690 |
|  | &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;678099 | &nbsp;&nbsp;&nbsp;&nbsp; 90031 |
|  | &nbsp;&nbsp;&nbsp;Broadcom Inc. | &nbsp;&nbsp;&nbsp;&nbsp;241459 | &nbsp;&nbsp;&nbsp;&nbsp; 83569 |
|  | &nbsp;&nbsp;&nbsp;Martin Marietta Materials Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120189 | &nbsp;&nbsp;&nbsp;&nbsp; 74837 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;MercadoLibre Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37071 | &nbsp;&nbsp;&nbsp;&nbsp; 74671 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AppLovin Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;104151 | &nbsp;&nbsp;&nbsp;&nbsp; 70179 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;DoorDash Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;302764 | &nbsp;&nbsp;&nbsp;&nbsp; 68570 |
|  | &nbsp;&nbsp;&nbsp;Elevance Health Inc. | &nbsp;&nbsp;&nbsp;&nbsp;189973 | &nbsp;&nbsp;&nbsp;&nbsp; 66595 |
|  | &nbsp;&nbsp;&nbsp;Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;842174 | &nbsp;&nbsp;&nbsp;&nbsp; 65664 |
|  | &nbsp;&nbsp;&nbsp;Royalty Pharma plc Class A | 1507267 | &nbsp;&nbsp;&nbsp;&nbsp; 58241 |
|  | &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;685788 | &nbsp;&nbsp;&nbsp;&nbsp; 56920 |
|  | &nbsp;&nbsp;&nbsp;Baxter International Inc. | 2882055 | &nbsp;&nbsp;&nbsp;&nbsp; 55076 |
|  | &nbsp;&nbsp;&nbsp;Citigroup Inc. | &nbsp;&nbsp;&nbsp;&nbsp;469990 | &nbsp;&nbsp;&nbsp;&nbsp; 54843 |
|  | &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;685130 | &nbsp;&nbsp;&nbsp;&nbsp; 54372 |
|  | &nbsp;&nbsp;&nbsp;Apple Inc. | &nbsp;&nbsp;&nbsp;&nbsp;193932 | &nbsp;&nbsp;&nbsp;&nbsp; 52722 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Clean Harbors Inc. | &nbsp;&nbsp;&nbsp;&nbsp;220896 | &nbsp;&nbsp;&nbsp;&nbsp; 51796 |
|  | &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44110 | &nbsp;&nbsp;&nbsp;&nbsp; 47404 |
|  | &nbsp;&nbsp;&nbsp;Ensign Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;263428 | &nbsp;&nbsp;&nbsp;&nbsp; 45889 |
|  | &nbsp;&nbsp;&nbsp;Amdocs Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;557399 | &nbsp;&nbsp;&nbsp;&nbsp; 44876 |
|  | &nbsp;&nbsp;&nbsp;FTAI Aviation Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;220483 | &nbsp;&nbsp;&nbsp;&nbsp; 43402 |
|  | &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;178611 | &nbsp;&nbsp;&nbsp;&nbsp; 43288 |
|  | &nbsp;&nbsp;&nbsp;MSCI Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74961 | &nbsp;&nbsp;&nbsp;&nbsp; 43007 |
|  | &nbsp;&nbsp;&nbsp;Humana Inc. | &nbsp;&nbsp;&nbsp;&nbsp;161056 | &nbsp;&nbsp;&nbsp;&nbsp; 41251 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Netflix Inc. | &nbsp;&nbsp;&nbsp;&nbsp;437550 | &nbsp;&nbsp;&nbsp;&nbsp; 41025 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CBRE Group Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;254029 | &nbsp;&nbsp;&nbsp;&nbsp; 40845 |
|  | &nbsp;&nbsp;&nbsp;Welltower Inc. | &nbsp;&nbsp;&nbsp;&nbsp;214682 | &nbsp;&nbsp;&nbsp;&nbsp; 39847 |
|  | &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67649 | &nbsp;&nbsp;&nbsp;&nbsp; 39199 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Samsara Inc. Class A | 1079962 | &nbsp;&nbsp;&nbsp;&nbsp; 38285 |
|  | &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;437494 | &nbsp;&nbsp;&nbsp;&nbsp; 38246 |
|  | &nbsp;&nbsp;&nbsp;Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;330318 | &nbsp;&nbsp;&nbsp;&nbsp; 37854 |
|  | &nbsp;&nbsp;&nbsp;Tyson Foods Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;644900 | &nbsp;&nbsp;&nbsp;&nbsp; 37804 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Coherent Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200007 | &nbsp;&nbsp;&nbsp;&nbsp; 36915 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Markel Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp; 36759 |
|  | &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;677613 | &nbsp;&nbsp;&nbsp;&nbsp; 36550 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;First Solar Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139187 | &nbsp;&nbsp;&nbsp;&nbsp; 36360 |
|  | &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital Inc. | 1128627 | &nbsp;&nbsp;&nbsp;&nbsp; 35473 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Airbnb Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;258643 | &nbsp;&nbsp;&nbsp;&nbsp; 35103 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;CoStar Group Inc. | &nbsp;&nbsp;&nbsp;&nbsp;517713 | &nbsp;&nbsp;&nbsp;&nbsp; 34811 |
|  | &nbsp;&nbsp;&nbsp;Skyworks Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;543632 | &nbsp;&nbsp;&nbsp;&nbsp; 34472 |
|  | &nbsp;&nbsp;&nbsp;Global Payments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;444750 | &nbsp;&nbsp;&nbsp;&nbsp; 34424 |
|  | &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;362613 | &nbsp;&nbsp;&nbsp;&nbsp; 33796 |
|  | &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66113 | &nbsp;&nbsp;&nbsp;&nbsp; 33774 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Axon Enterprise Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59356 | &nbsp;&nbsp;&nbsp;&nbsp; 33710 |
|  | &nbsp;&nbsp;&nbsp;S&P Global Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63583 | &nbsp;&nbsp;&nbsp;&nbsp; 33228 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Block Inc. (XNYS) | &nbsp;&nbsp;&nbsp;&nbsp;489715 | &nbsp;&nbsp;&nbsp;&nbsp; 31876 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Uber Technologies Inc. | &nbsp;&nbsp;&nbsp;&nbsp;382790 | &nbsp;&nbsp;&nbsp;&nbsp; 31278 |
|  | &nbsp;&nbsp;&nbsp;Dow Inc. | 1297574 | &nbsp;&nbsp;&nbsp;&nbsp; 30337 |
|  | &nbsp;&nbsp;&nbsp;NOV Inc. | 1906004 | &nbsp;&nbsp;&nbsp;&nbsp; 29791 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65525 | &nbsp;&nbsp;&nbsp;&nbsp; 29706 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Medpace Holdings Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50781 | &nbsp;&nbsp;&nbsp;&nbsp; 28521 |
|  | &nbsp;&nbsp;&nbsp;Advanced Drainage Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;193722 | &nbsp;&nbsp;&nbsp;&nbsp; 28057 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70207 | &nbsp;&nbsp;&nbsp;&nbsp; 27918 |
|  | &nbsp;&nbsp;&nbsp;MetLife Inc. | &nbsp;&nbsp;&nbsp;&nbsp;353311 | &nbsp;&nbsp;&nbsp;&nbsp; 27890 |
|  | &nbsp;&nbsp;&nbsp;Texas Instruments Inc. | &nbsp;&nbsp;&nbsp;&nbsp;159517 | &nbsp;&nbsp;&nbsp;&nbsp; 27675 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AutoZone Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8102 | &nbsp;&nbsp;&nbsp;&nbsp; 27478 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;AeroVironment Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112917 | &nbsp;&nbsp;&nbsp;&nbsp; 27314 |
|  | &nbsp;&nbsp;&nbsp;Salesforce Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99694 | &nbsp;&nbsp;&nbsp;&nbsp; 26410 |
|  | &nbsp;&nbsp;&nbsp;Corebridge Financial Inc. | &nbsp;&nbsp;&nbsp;&nbsp;853829 | &nbsp;&nbsp;&nbsp;&nbsp; 25760 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;QXO Inc. | 1315848 | &nbsp;&nbsp;&nbsp;&nbsp; 25383 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;EPAM Systems Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122516 | &nbsp;&nbsp;&nbsp;&nbsp; 25101 |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  |  | Shares | &nbsp;&nbsp;&nbsp;&nbsp;Market<br> Value<br> ($000) |
|  | &nbsp;&nbsp;&nbsp;Comfort Systems USA Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25747 | &nbsp;&nbsp;&nbsp;&nbsp; 24029 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Medline Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;571343 | &nbsp;&nbsp;&nbsp;&nbsp; 23996 |
|  | &nbsp;&nbsp;&nbsp;Paycom Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;150190 | &nbsp;&nbsp;&nbsp;&nbsp; 23934 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;441522 | &nbsp;&nbsp;&nbsp;&nbsp; 23908 |
|  | &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;193019 | &nbsp;&nbsp;&nbsp;&nbsp; 21960 |
|  | &nbsp;&nbsp;&nbsp;Eaton Corp. plc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66087 | &nbsp;&nbsp;&nbsp;&nbsp; 21049 |
|  | &nbsp;&nbsp;&nbsp;Universal Health Services Inc. Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94808 | &nbsp;&nbsp;&nbsp;&nbsp; 20670 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Datadog Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;148708 | &nbsp;&nbsp;&nbsp;&nbsp; 20223 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Nextpower Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;231411 | &nbsp;&nbsp;&nbsp;&nbsp; 20158 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Dutch Bros Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;305977 | &nbsp;&nbsp;&nbsp;&nbsp; 18732 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Unity Software Inc. | &nbsp;&nbsp;&nbsp;&nbsp;421741 | &nbsp;&nbsp;&nbsp;&nbsp; 18628 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Natera Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80563 | &nbsp;&nbsp;&nbsp;&nbsp; 18456 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Champion Homes Inc. | &nbsp;&nbsp;&nbsp;&nbsp;216075 | &nbsp;&nbsp;&nbsp;&nbsp; 18258 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Cloudflare Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92024 | &nbsp;&nbsp;&nbsp;&nbsp; 18143 |
|  | &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69190 | &nbsp;&nbsp;&nbsp;&nbsp; 17906 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Revolution Medicines Inc. | &nbsp;&nbsp;&nbsp;&nbsp;215971 | &nbsp;&nbsp;&nbsp;&nbsp; 17202 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Trade Desk Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;437844 | &nbsp;&nbsp;&nbsp;&nbsp; 16621 |
|  | &nbsp;&nbsp;&nbsp;PPG Industries Inc. | &nbsp;&nbsp;&nbsp;&nbsp;159834 | &nbsp;&nbsp;&nbsp;&nbsp; 16377 |
|  | &nbsp;&nbsp;&nbsp;PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp;230975 | &nbsp;&nbsp;&nbsp;&nbsp; 15480 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;HubSpot Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37597 | &nbsp;&nbsp;&nbsp;&nbsp; 15088 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Tesla Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31492 | &nbsp;&nbsp;&nbsp;&nbsp; 14163 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Coinbase Global Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58715 | &nbsp;&nbsp;&nbsp;&nbsp; 13278 |
|  | &nbsp;&nbsp;&nbsp;Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp;158467 | &nbsp;&nbsp;&nbsp;&nbsp; 11765 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Shake Shack Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;132041 | &nbsp;&nbsp;&nbsp;&nbsp; 10718 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Floor & Decor Holdings Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;163422 | &nbsp;&nbsp;&nbsp;&nbsp; 9951 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Bloom Energy Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;112807 | &nbsp;&nbsp;&nbsp;&nbsp; 9802 |
| <sup>\*</sup> | &nbsp;&nbsp;&nbsp;Enphase Energy Inc. | &nbsp;&nbsp;&nbsp;&nbsp;266099 | &nbsp;&nbsp;&nbsp;&nbsp; 8528 |
|  | &nbsp;&nbsp;&nbsp;WillScot Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;443541 | &nbsp;&nbsp;&nbsp;&nbsp; 8352 |
|  | &nbsp;&nbsp;&nbsp;Newell Brands Inc. | 1481420 | &nbsp;&nbsp;&nbsp;&nbsp; 5511 |
| <sup>\*,4</sup> | &nbsp;&nbsp;&nbsp;ABIOMED Inc. CVR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82912 | &nbsp;&nbsp;&nbsp;&nbsp; 85 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**4481291** |
| **Total Common Stocks (Cost $4,799,572)** | **Total Common Stocks (Cost $4,799,572)** | **Total Common Stocks (Cost $4,799,572)** | &nbsp;&nbsp;&nbsp;&nbsp;**7283613** |
| **Temporary Cash Investments (3.7%)** | **Temporary Cash Investments (3.7%)** | **Temporary Cash Investments (3.7%)** | **Temporary Cash Investments (3.7%)** |
| **Money Market Fund (3.7%)** | **Money Market Fund (3.7%)** | **Money Market Fund (3.7%)** | **Money Market Fund (3.7%)** |
| <sup>5,6</sup> | &nbsp;&nbsp;&nbsp;Vanguard Market Liquidity Fund, 3.780% **(Cost $278,952)** | 2789614 | &nbsp;&nbsp;&nbsp;&nbsp; **278961** |
| **Total Investments (99.9%) (Cost $5,078,524)** | **Total Investments (99.9%) (Cost $5,078,524)** | **Total Investments (99.9%) (Cost $5,078,524)** | &nbsp;&nbsp;&nbsp;&nbsp;**7562574** |
| **Other Assets and Liabilities—Net (0.1%)** | **Other Assets and Liabilities—Net (0.1%)** | **Other Assets and Liabilities—Net (0.1%)** | &nbsp;&nbsp;&nbsp;&nbsp;**6101** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | &nbsp;&nbsp;&nbsp;&nbsp;**7568675** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| \* | Non-income-producing security. |
| 1 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2025, the aggregate value was $153,208, representing 2.0% of net assets. |
| 2 | Considered an affiliated company of the fund as the issuer is another member of The Vanguard Group. |
| 3 | Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $2,902. |
| 4 | Security value determined using significant unobservable inputs. |
| 5 | Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield. |
| 6 | Collateral of $3,021 was received for securities on loan. |
|  | ADR—American Depositary Receipt. |
|  | CVR—Contingent Value Rights. |
|  | GDR—Global Depositary Receipt. |

---

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short)<br> Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| E-mini S&P 500 Index | March 2026 | 310 | 106834 | &nbsp;&nbsp;(207) |
| MSCI EAFE Index | March 2026 | 338 | 49045 | &nbsp;&nbsp;140 |
| MSCI Emerging Markets Index | March 2026 | 330 | 23288 | &nbsp;&nbsp;457 |
|  |  |  |  | &nbsp;&nbsp;390 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts | Forward Currency Contracts |
| Counterparty | Contract<br> Settlement<br> Date | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Contract Amount (000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |
| Counterparty | Contract<br> Settlement<br> Date |  | &nbsp;&nbsp;&nbsp;Receive |  | &nbsp;&nbsp;&nbsp;Deliver | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Depreciation<br> ($000) |
| JPMorgan Chase Bank, N.A. | 3/18/2026 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Toronto-Dominion Bank | 3/18/2026 | &nbsp;&nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Standard Chartered Bank | 3/18/2026 | &nbsp;&nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Toronto-Dominion Bank | 3/18/2026 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Toronto-Dominion Bank | 3/18/2026 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— |
| Toronto-Dominion Bank | 3/18/2026 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3) |
| State Street Bank & Trust Co. | 3/18/2026 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1) |
| Toronto-Dominion Bank | 3/18/2026 | &nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;2195 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(3) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(7) |

---

---

| |
|:---|
| AUD—Australian dollar. |
| CAD—Canadian dollar. |
| CHF—Swiss franc. |
| EUR—euro. |
| GBP—British pound. |
| HKD—Hong Kong dollar. |
| JPY—Japanese yen. |
| SEK—Swedish krona. |
| USD—U.S. dollar. |

---

**A.** Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales
prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices.
Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary
markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees. These procedures include obtaining quotations from an independent pricing
service, monitoring news to identify significant market- or security-specific events, and evaluating changes in the values of foreign market proxies (for example, ADRs, futures contracts, or exchange-traded funds),
between the time the foreign markets close and the fund's pricing time. When fair-value pricing is employed, the prices of securities used by a fund to calculate its net asset value may differ from quoted or
published prices for the same securities. Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.

**B.** Foreign Currency: Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates obtained from an independent third party as of the fund's
pricing time on the valuation date. Realized gains (losses) and unrealized appreciation (depreciation) on investment securities include the effects of changes in exchange rates since the securities were purchased,
combined with the effects of changes in security prices. Fluctuations in the value of other assets and liabilities resulting from changes in exchange rates are recorded as unrealized foreign currency gains (losses)
until the assets or liabilities are settled in cash, at which time they are recorded as realized foreign currency gains (losses).

**C.** Futures Contracts: The fund uses index futures contracts to a limited extent, with the objective of maintaining full exposure to the stock market while maintaining liquidity. The fund
may purchase or sell futures contracts to achieve a desired level of investment, whether to accommodate portfolio turnover or cash flows from capital share transactions. The primary risks associated with the use of
futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving
futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the
financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's
performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of
Investments.

------

Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).

**D.** Forward Currency Contracts: The fund enters into forward currency contracts to protect the value of securities and related receivables and payables against changes in future foreign exchange rates. Risks associated
with these types of forward currency contracts include movement in the values of the foreign currencies relative to the U.S. dollar and the ability of the counterparties to fulfill their obligations under the
contracts. The fund mitigates its counterparty risk by entering into forward currency contracts only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master
netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund
cannot be repledged, resold, or rehypothecated. The master netting arrangements provide that, in the event of a counterparty's default (including bankruptcy), the fund may terminate the forward currency
contracts, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting
arrangements. The forward currency contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the
fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the
Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the forward currency contracts exposure with each counterparty, and any difference, if in excess of a specified
minimum transfer amount, is adjusted and settled within two business days.

Forward currency contracts are valued at their quoted daily prices obtained from an independent third party, adjusted for currency risk based on the expiration date of each contract. Fluctuations in the value of the contracts are recorded as an asset (liability).

**E.** Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used
to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

The following table summarizes the market value of the fund's investments and derivatives as of December 31, 2025, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Common Stocks—North and South America | 4704157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58129 | &nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;4762371 |
| Common Stocks—Other | &nbsp;&nbsp;&nbsp;&nbsp;438188 | &nbsp;&nbsp;&nbsp;2083054 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2521242 |
| Temporary Cash Investments | &nbsp;&nbsp;&nbsp;&nbsp;278961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;278961 |
| Total | 5421306 | &nbsp;&nbsp;&nbsp;2141183 | &nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;7562574 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;597 |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total | &nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;597 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | (207) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(207) |
| Forward Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(7) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) |
| Total | (207) | &nbsp;&nbsp;&nbsp;(7) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(214) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.

**F.** Transactions during the period in investments where the issuer is another member of The Vanguard Group were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions | Current Period Transactions |  |
|  | Sep. 30,<br> 2025<br> Market<br> Value<br> ($000) | Purchases<br> at Cost<br> ($000) | Proceeds<br> from<br> Securities<br> Sold<br> ($000) | Realized<br> Net<br> Gain<br> (Loss)<br> ($000) | Change in<br> Unrealized<br> App. (Dep.)<br> ($000) | Income<br> ($000) | Capital Gain<br> Distributions<br> Received<br> ($000) | Dec. 31,<br> 2025<br> Market<br> Value<br> ($000) |
| Vanguard Growth ETF | &nbsp;&nbsp;&nbsp;&nbsp;4558 | 139410 | 75083 | 884 | (164) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |  | &nbsp;&nbsp;&nbsp;69605 |
| Vanguard Market Liquidity Fund | 232133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;NA<sup>1</sup> | &nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;(15) | 2529 |  | 278961 |
| Total | 236691 | 139410 | 75083 | 905 | (179) | 2605 |  | 348566 |

---

1 Not applicable—purchases and sales are for temporary cash investment purposes.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** VANGUARD HORIZON FUNDS

- **b. Investment Company Act file number:** 811-07239

- **c. CIK number of Registrant:** 0000932471

- **d. LEI of Registrant:** 549300NB21G5LRYCVD47

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Vanguard Boulevard

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-669-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** VANGUARD GLOBAL EQUITY FUND

- **b. EDGAR series identifier (if any):** S000002595

- **c. LEI of Series:** WT0SRFK64YFSQ38XG643

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $7587460581.06

**Total Liabilities:** $14917701.10

**Net Assets:** $7572542879.96

**Cash Not Reported:** $44483089.86

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000007115 | 2.15%                | -1.57%               | 1.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $118334134.26            | $43177012.37                               |
| Month 2  | $94843082.49             | $-222939688.96                             |
| Month 3  | $169116873.09            | $-83119326.74                              |

### Schedule of Portfolio Investments

| Name                                              | Title                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Adyen NV                                          | ADYEN NV                       | CUSIP: N/A<br>LEI: 724500973ODKK3IFQ447       | Long             | EC               | CORP              | NL        |     45781 | NS      | $73825271.51  | 0.97%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc                      | THERMO FISHER                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     67649 | NS      | $39199213.05  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Games Workshop Group PLC                          | GAMES WORKSHOP                 | CUSIP: N/A<br>LEI: 213800RP9QJQYGWHNT41       | Long             | EC               | CORP              | GB        |    126765 | NS      | $32249631.69  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| ANTA Sports Products Ltd                          | ANTA SPORTS                    | CUSIP: N/A<br>LEI: 529900291XG0CTK4LF95       | Long             | EC               | CORP              | HK        |   2358743 | NS      | $24494534.85  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Dow Inc                                           | DOW INC                        | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |   1297574 | NS      | $30337280.12  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | JPY/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-4.44        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                             | UBER TECHNOLOGIE               | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    382790 | NS      | $31277770.90  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Kokusai Electric Corp                             | KOKUSAI ELECTRIC               | CUSIP: N/A<br>LEI: 549300CDY6N3WKYK2I96       | Long             | EC               | CORP              | JP        |    605900 | NS      | $21189623.21  | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Disco Corp                                        | DISCO CORP                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     77200 | NS      | $23519908.46  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| PDD Holdings Inc                                  | PDD HOLDINGS INC               | CUSIP: N/A<br>LEI: 5493000573DS7005T657       | Long             | EC               | CORP              | US        |    226792 | NS      | $25715944.88  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ABIOMED Inc                                       | ABIOMED INC-CVR                | CUSIP: N/A<br>LEI: 5493001EZN4ZTB4Z5887       | Long             | EC               | CORP              | US        |     82912 | NS      | $84570.24     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Ryanair Holdings PLC                              | RYANAIR HLDG-ADR               | CUSIP: N/A<br>LEI: 635400BR2ROC1FVEBQ56       | Long             | EC               | CORP              | US        |    935366 | NS      | $67524071.54  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                    | S&P GLOBAL INC                 | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     63583 | NS      | $33227839.97  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                                  | MARKEL GROUP INC               | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |     17100 | NS      | $36759015.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Amundi SA                                         | AMUNDI SA                      | CUSIP: N/A<br>LEI: 96950010FL2T1TJKR531       | Long             | EC               | CORP              | FR        |    135117 | NS      | $11167389.03  | 0.15%             |  |  |  | Yes           |                  2 | On Loan: No      |
| VK IPJSC                                          | VK IPJSC                       | CUSIP: N/A<br>LEI: 2138009IXUP41SPL5B50       | Long             | EC               | CORP              | GB        |    128137 | NS      | $1.28         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Edenred SE                                        | EDENRED                        | CUSIP: N/A<br>LEI: 9695006LOD5B2D7Y0N70       | Long             | EC               | CORP              | FR        |    924689 | NS      | $20441138.72  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Rexel SA                                          | REXEL SA                       | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |   1206319 | NS      | $47314401.16  | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Apple Inc                                         | APPLE INC                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    193932 | NS      | $52722353.52  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Kweichow Moutai Co Ltd                            | KWEICHOW MOUTA-A               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     99900 | NS      | $19698679.46  | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| BASF SE                                           | BASF SE                        | CUSIP: D06216317<br>LEI: 529900PM64WH8AF1E917 | Long             | EC               | CORP              | DE        |    924698 | NS      | $48656300.61  | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                        | SAMSUNG ELECTRON               | CUSIP: Y74718100<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |   1051139 | NS      | $88101099.67  | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc                                    | AMAZON.COM INC                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1207219 | NS      | $278650289.58 | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                    | MICROSOFT CORP                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    645518 | NS      | $312185415.16 | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                     | WELLTOWER INC                  | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |    214682 | NS      | $39847126.02  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Li Auto Inc                                       | LI AUTO INC-A                  | CUSIP: N/A<br>LEI: 2549003R73Q70J5H4I65       | Long             | EC               | CORP              | HK        |    237658 | NS      | $2005870.93   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc                                      | ALPHABET INC-C                 | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    381394 | NS      | $119681437.20 | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc                              | MEDPACE HOLDINGS               | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     50781 | NS      | $28521148.65  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC                         | FLUTTER ENTER-DI               | CUSIP: G3643J108<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | GB        |     56275 | NS      | $12156749.78  | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| EPAM Systems Inc                                  | EPAM SYSTEMS INC               | CUSIP: 29414B104<br>LEI: 549300XCR4R530HJP604 | Long             | EC               | CORP              | US        |    122516 | NS      | $25101078.08  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | HKD/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-0.18        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Cloudflare Inc                                    | CLOUDFLARE INC-A               | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |     92024 | NS      | $18142531.60  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                           | BRISTOL-MYER SQB               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    677613 | NS      | $36550445.22  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| TDK Corp                                          | TDK CORP                       | CUSIP: N/A<br>LEI: 3538005O8WNU39U8NX03       | Long             | EC               | CORP              | JP        |   1822800 | NS      | $25788512.04  | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosus NV                                         | PROSUS NV                      | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |   1985653 | NS      | $122949555.79 | 1.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Capital One Financial Corp                        | CAPITAL ONE FINA               | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |    178611 | NS      | $43288161.96  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                                      | AUTOZONE INC                   | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      8102 | NS      | $27477933.00  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd         | TSMC                           | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   3184000 | NS      | $156516701.87 | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| PVH Corp                                          | PVH CORP                       | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |    230975 | NS      | $15479944.50  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                             | ON SEMICONDUCTOR               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |    441522 | NS      | $23908416.30  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                                | META PLATFORMS-A               | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    159909 | NS      | $105554331.81 | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev SA                                          | AMBEV SA                       | CUSIP: N/A<br>LEI: 549300TH5Q6VRP8OT012       | Long             | EC               | CORP              | BR        |  11846210 | NS      | $29818733.52  | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| CBRE Group Inc                                    | CBRE GROUP INC-A               | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |    254029 | NS      | $40845322.91  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                                   | TYSON FOODS-A                  | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |    644900 | NS      | $37804038.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Daikin Industries Ltd                             | DAIKIN INDS                    | CUSIP: N/A<br>LEI: 549300Y7FWSTSHMW5Y57       | Long             | EC               | CORP              | JP        |    311200 | NS      | $39799930.32  | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                       | B3 SA                          | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               | CORP              | BR        |  11119900 | NS      | $28310233.52  | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| J Sainsbury PLC                                   | SAINSBURY PLC                  | CUSIP: N/A<br>LEI: 213800VGZAAJIKJ9Y484       | Long             | EC               | CORP              | GB        |   8382374 | NS      | $36724984.64  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Comfort Systems USA Inc                           | COMFORT SYSTEMS                | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |     25747 | NS      | $24029417.63  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions Inc                            | SKYWORKS SOLUTIO               | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |    543632 | NS      | $34471705.12  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc                        | FLOOR & DECOR-A                | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |    163422 | NS      | $9950765.58   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        |     33235 | NS      | $3323481.90   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                    | NU HOLDINGS LT-A               | CUSIP: G6683N103<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | US        |   1895959 | NS      | $31738353.66  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                         | SANOFI                         | CUSIP: F5548N101<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    349141 | NS      | $33781192.50  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Corp PLC                                    | EATON CORP PLC                 | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | US        |     66087 | NS      | $21049370.37  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ireland Group PLC                         | BANK OF IRELAND                | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               | CORP              | IE        |   1464625 | NS      | $28011390.53  | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| AeroVironment Inc                                 | AEROVIRONMENT IN               | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |    112917 | NS      | $27313493.13  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                                  | ARCELORMITTAL                  | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | NL        |    705205 | NS      | $32382662.64  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Baxter International Inc                          | BAXTER INTL INC                | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |   2882055 | NS      | $55076071.05  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc         | HA SUSTAINABLE I               | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |   1128627 | NS      | $35472746.61  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Stella-Jones Inc                                  | STELLA-JONES INC               | CUSIP: 85853F105<br>LEI: 5493007LOVNNLYJ6KZ35 | Long             | EC               | CORP              | CA        |    395448 | NS      | $24526966.77  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Randstad NV                                       | RANDSTAD NV                    | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |    933998 | NS      | $35459294.62  | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Rakuten Group Inc                                 | RAKUTEN GROUP IN               | CUSIP: N/A<br>LEI: 529900IMXUCQKUL1H943       | Long             | EC               | CORP              | JP        |   2690000 | NS      | $17237431.73  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                                           | CRH PLC                        | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               | CORP              | GB        |    503732 | NS      | $62594503.27  | 0.83%             |  |  |  | No            |                  2 | On Loan: —       |
| Nextpower Inc                                     | NEXTPOWER INC-A                | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    231411 | NS      | $20158212.21  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                                     | APPLOVIN CO-CL A               | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |    104151 | NS      | $70179026.82  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc                                 | CLEAN HARBORS                  | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |    220896 | NS      | $51795694.08  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp                               | DOLLAR GENERAL C               | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |    678643 | NS      | $90103431.11  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                                       | SAMSARA INC-CL A               | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1079962 | NS      | $38284652.90  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc                                | CHAMPION HOMES I               | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    216075 | NS      | $18258337.50  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                                   | BROOKFIELD CORP                | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | US        |    604803 | NS      | $27754409.67  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                                       | METLIFE INC                    | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |    353311 | NS      | $27890370.34  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                                   | SHAKE SHACK IN-A               | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |    132041 | NS      | $10717767.97  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexans SA                                         | NEXANS SA                      | CUSIP: N/A<br>LEI: 96950015FU78G84UIV14       | Long             | EC               | CORP              | FR        |    126002 | NS      | $18522291.78  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Tesla Inc                                         | TESLA INC                      | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     31492 | NS      | $14162582.24  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                                       | DATADOG INC-A                  | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |    148708 | NS      | $20222800.92  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Auto1 Group SE                                    | AUTO1 GROUP SE                 | CUSIP: N/A<br>LEI: 391200S2LPXG5ZD5G304       | Long             | EC               | CORP              | DE        |    538121 | NS      | $17062329.20  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Ensign Group Inc/The                              | ENSIGN GROUP INC               | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |    263428 | NS      | $45889157.60  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                                | PPG INDS INC                   | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |    159834 | NS      | $16376591.64  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                                       | HUBSPOT INC                    | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |     37597 | NS      | $15087676.10  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International SCA                          | HERMES INTL                    | CUSIP: F48051100<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |     10171 | NS      | $25253058.73  | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Elevance Health Inc                               | ELEVANCE HEALTH                | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    189973 | NS      | $66595035.15  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corp International/US                     | SERVICE CORP INT               | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |    842174 | NS      | $65664306.78  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Julius Baer Group Ltd                             | JULIUS BAER GROU               | CUSIP: N/A<br>LEI: 5299007MF0604ZGJER92       | Long             | EC               | CORP              | CH        |    381938 | NS      | $29841110.55  | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| ASM International NV                              | ASM INTL NV                    | CUSIP: N/A<br>LEI: 7245001I22ND6ZFHX623       | Long             | EC               | CORP              | NL        |     28937 | NS      | $17518308.62  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| China Overseas Land & Investment Ltd              | CHINA OVERSEAS                 | CUSIP: Y15004107<br>LEI: 529900I6W35GYKRIZ151 | Long             | EC               | CORP              | HK        |  22171000 | NS      | $35013657.23  | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| WillScot Holdings Corp                            | WILLSCOT HOLDING               | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |    443541 | NS      | $8351877.03   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The                                | TRADE DESK INC-A               | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |    437844 | NS      | $16620558.24  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                         | BABA-W                         | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | HK        |   1966779 | NS      | $36111944.13  | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | MSCI EAFE         Mar26        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       339 | NC      | $151585.06    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co                           | ARTHUR J GALLAGH               | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |     69190 | NS      | $17905680.10  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro SA                            | PETROBRAS SA-ADR               | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EC               | CORP              | US        |   1520721 | NS      | $18020543.85  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                                      | DOORDASH INC-A                 | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |    302764 | NS      | $68569990.72  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Poste Italiane SpA                                | POSTE ITALIANE                 | CUSIP: N/A<br>LEI: 815600354DEDBD0BA991       | Long             | EC               | CORP              | IT        |    219316 | NS      | $5505681.66   | 0.07%             |  |  |  | Yes           |                  2 | On Loan: No      |
| N/A                                               | AUD/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $6.84         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Reliance Industries Ltd                           | RELIANC-GDR 144A               | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | GB        |    507405 | NS      | $35527549.25  | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| QXO Inc                                           | QXO INC                        | CUSIP: 82846H405<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1129092 | NS      | $21780184.68  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                                         | LEAR CORP                      | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |    330318 | NS      | $37854442.80  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                     | COHERENT CORP                  | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |    200007 | NS      | $36915291.99  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | CAD/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $12.74        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                                      | KEYENCE CORP                   | CUSIP: N/A<br>LEI: 529900M7PQBS7A89DZ11       | Long             | EC               | CORP              | JP        |    104100 | NS      | $37655542.43  | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                               | SEK/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3342.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | Vanguard Market Liquidity Fund | CUSIP: N/A<br>LEI: 1I6HV0TLSTR3A4XQ6L78       | Long             | STIV             | CORP              | US        | 238845011 | NS      | $238845010.53 | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                    | ELI LILLY & CO                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     44110 | NS      | $47404134.80  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Contemporary Amperex Technology Co Ltd            | CONTEMPORARY A-A               | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |    942100 | NS      | $49538006.90  | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Group AG                                      | UBS GROUP AG                   | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               | CORP              | CH        |    956756 | NS      | $44177795.81  | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Argenx SE                                         | ARGENX SE - ADR                | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | US        |     28476 | NS      | $23946892.20  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA                       | CIE FINANCI-REG                | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |    172071 | NS      | $37107268.43  | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Coinbase Global Inc                               | COINBASE GLOBA-A               | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |     58715 | NS      | $13277810.10  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Auto Trader Group PLC                             | AUTO TRADER                    | CUSIP: N/A<br>LEI: 213800QLK9BZILB1DI86       | Long             | EC               | CORP              | GB        |   3445445 | NS      | $27182366.02  | 0.36%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Enphase Energy Inc                                | ENPHASE ENERGY                 | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |    266099 | NS      | $8528472.95   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC                       | RECKITT BENCKISE               | CUSIP: N/A<br>LEI: 5493003JFSMOJG48V108       | Long             | EC               | CORP              | GB        |    518336 | NS      | $41943417.50  | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbnb Inc                                        | AIRBNB INC-A                   | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |    258643 | NS      | $35103027.96  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                                       | WIX.COM LTD                    | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | US        |    130627 | NS      | $13570839.03  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                     | CITIGROUP INC                  | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    469990 | NS      | $54843133.10  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Daimler Truck Holding AG                          | DAIMLER TRUCK HO               | CUSIP: N/A<br>LEI: 529900PW78JIYOUBSR24       | Long             | EC               | CORP              | DE        |   1311896 | NS      | $56821512.17  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Texas Instruments Inc                             | TEXAS INSTRUMENT               | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    159517 | NS      | $27674604.33  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Epiroc AB                                         | EPIROC AB-B                    | CUSIP: N/A<br>LEI: 5493004Q73OEYW1SPE91       | Long             | EC               | CORP              | SE        |   1009955 | NS      | $20318860.71  | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Medline Inc                                       | MEDLINE INC-A                  | CUSIP: 58507V107<br>LEI: 984500FAN6J1P8566D43 | Long             | EC               | CORP              | US        |    571343 | NS      | $23996406.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                                    | DUTCH BROS INC-A               | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    305977 | NS      | $18731911.94  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd         | TAIWAN SEMIC-ADR               | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | US        |    341170 | NS      | $103678151.30 | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                         | FRESENIUS MEDICA               | CUSIP: D2734Z107<br>LEI: 549300CP8NY40UP89Q40 | Long             | EC               | CORP              | DE        |    887763 | NS      | $42404481.66  | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Nokia Oyj                                         | NOKIA OYJ                      | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | FI        |   1419447 | NS      | $9151273.58   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays PLC                                      | BARCLAYS PLC                   | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               | CORP              | GB        |   3612583 | NS      | $23124608.01  | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Salesforce Inc                                    | SALESFORCE INC                 | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     99694 | NS      | $26409937.54  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                                  | COSTAR GROUP INC               | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    517713 | NS      | $34811022.12  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                                         | BLOCK INC                      | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |    489715 | NS      | $31875549.35  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | EUR/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-3065.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy Entertainment Group Ltd                    | GALAXY ENTERTAIN               | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               | CORP              | HK        |   5385825 | NS      | $26556514.38  | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Vanguard Growth ETF                               | VANGUARD GRW ETF               | CUSIP: 922908736<br>LEI: 8DLNZLT9FCSJNCMHQC12 | Long             | EC               | RF                | US        |    142675 | NS      | $69605425.50  | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |
| Vertex Pharmaceuticals Inc                        | VERTEX PHARM                   | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     65525 | NS      | $29706414.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                           | SEA LTD-ADR                    | CUSIP: N/A<br>LEI: 529900OM6JLLW44YKI15       | Long             | EC               | CORP              | US        |    213399 | NS      | $27223310.43  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                          | ENEL SPA                       | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               | CORP              | IT        |   3170221 | NS      | $32961842.68  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Natera Inc                                        | NATERA INC                     | CUSIP: 632307104<br>LEI: 529900CQ3OZ0A0VYVU59 | Long             | EC               | CORP              | US        |     80563 | NS      | $18456177.67  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc                          | COREBRIDGE FINAN               | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |    853829 | NS      | $25760020.93  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT              | BANK RAKYAT INDO               | CUSIP: Y0697U112<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |  52445000 | NS      | $11485807.32  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Paycom Software Inc                               | PAYCOM SOFTWARE                | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |    150190 | NS      | $23934278.40  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp                                 | BLOOM ENERGY C-A               | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |    112807 | NS      | $9801800.23   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC                                | ROYALTY PHARMA-A               | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | US        |   1507267 | NS      | $58240796.88  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc                     | MARTIN MAR MTLS                | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |    120189 | NS      | $74836882.74  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                              | TENCENT                        | CUSIP: G87572163<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | HK        |    593874 | NS      | $45575988.21  | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                                  | MERCADOLIBRE INC               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |     37071 | NS      | $74670632.46  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc                     | ADVANCED DRAINAG               | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |    193722 | NS      | $28056757.26  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Holdings PLC                                 | HSBC HOLDINGS PL               | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               | CORP              | GB        |   2609487 | NS      | $41062711.16  | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Saipem SpA                                        | SAIPEM SPA                     | CUSIP: N/A<br>LEI: 549300PHV8MBDHWB8X12       | Long             | EC               | CORP              | IT        |     15300 | NS      | $43314.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cie Generale des Etablissements Michelin SCA      | MICHELIN                       | CUSIP: N/A<br>LEI: 549300SOSI58J6VIW052       | Long             | EC               | CORP              | FR        |   1017313 | NS      | $33720040.60  | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Shopify Inc                                       | SHOPIFY INC - A                | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | US        |    398431 | NS      | $64135438.07  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                       | NETFLIX INC                    | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    437550 | NS      | $41024688.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                                  | NOVO NORDISK-B                 | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |    502955 | NS      | $25509102.24  | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                             | SPOTIFY TECHNOLO               | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | US        |     38650 | NS      | $22444441.50  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                       | ALNYLAM PHARMACE               | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |     70207 | NS      | $27917813.55  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                       | COUPANG INC                    | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |   2439015 | NS      | $57536363.85  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | GBP/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-383.41      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Global Payments Inc                               | GLOBAL PAYMENTS                | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    444750 | NS      | $34423650.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Shinhan Financial Group Co Ltd                    | SHINHAN FINANCIA               | CUSIP: N/A<br>LEI: 988400EB8A6G49E5KO54       | Long             | EC               | CORP              | KR        |    619705 | NS      | $32999126.06  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| MSCI Inc                                          | MSCI INC                       | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |     74961 | NS      | $43007374.53  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                   | CVS HEALTH CORP                | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    685130 | NS      | $54371916.80  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                               | AXON ENTERPRISE                | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     59356 | NS      | $33710053.08  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Severstal PAO                                     | SEVERSTAL-GDR                  | CUSIP: N/A<br>LEI: 213800OKDPTV6K4ONO53       | Long             | EC               | CORP              | US        |    520152 | NS      | $5.20         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Universal Health Services Inc                     | UNIVERSAL HLTH-B               | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               | CORP              | US        |     93291 | NS      | $20339303.82  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                       | NVIDIA CORP                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   2300724 | NS      | $429085026.00 | 5.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Ltd                                        | AMDOCS LTD                     | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | US        |    556374 | NS      | $44793670.74  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                   | ASML HOLDING NV                | CUSIP: N07059202<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     82690 | NS      | $89100141.83  | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Mastercard Inc                                    | MASTERCARD INC-A               | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    258017 | NS      | $147296744.96 | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                                  | WELLS FARGO & CO               | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    362613 | NS      | $33795531.60  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                                         | NOKIA CORP-ADR                 | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               | CORP              | US        |   4164313 | NS      | $26943105.11  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                                 | BRUNSWICK CORP                 | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |    158467 | NS      | $11764590.08  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Paint Holdings Co Ltd                      | NIPPON PAINT HOL               | CUSIP: N/A<br>LEI: 529900RYRJUN78A7PL87       | Long             | EC               | CORP              | JP        |   2607200 | NS      | $17457118.95  | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Newell Brands Inc                                 | NEWELL BRANDS IN               | CUSIP: 651229106<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | EC               | CORP              | US        |   1481420 | NS      | $5510882.40   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cosmos Pharmaceutical Corp                        | COSMOS PHARM                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |    357700 | NS      | $18112811.45  | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| NOV Inc                                           | NOV INC                        | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |   1906004 | NS      | $29790842.52  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                                 | FTAI AVIATION LT               | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    220483 | NS      | $43402078.55  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc                           | MAGNA INTL                     | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | US        |   1065196 | NS      | $56774946.80  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                                   | FIRST SOLAR INC                | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |    139187 | NS      | $36359820.01  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                        | HUMANA INC                     | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |    161056 | NS      | $41251273.28  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Sberbank of Russia PJSC                           | SBERBANK                       | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               | CORP              | RU        |   3912108 | NS      | $0.49         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                               | CHF/USD FWD 20260318           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | N/A       |         1 | NC      | $-156.07      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Unity Software Inc                                | UNITY SOFTWARE I               | CUSIP: 91332U101<br>LEI: 549300D1ESJMGNQNG432 | Long             | EC               | CORP              | US        |    421741 | NS      | $18628299.97  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                      | BROADCOM INC                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    241459 | NS      | $83568959.90  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | S&P500 EMINI FUT  Mar26        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       321 | NC      | $-204889.89   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                                      | MOODY'S CORP                   | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     66113 | NS      | $33773826.05  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                               | MSCI EmgMkt       Mar26        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | N/A       |       305 | NC      | $477420.70    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc                    | SS&C TECHNOLOGIE               | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |    437494 | NS      | $38245725.48  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp               | COGNIZANT TECH-A               | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |    685788 | NS      | $56920404.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                         | SHELL PLC                      | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               | CORP              | NL        |   1063696 | NS      | $39403610.33  | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc                                      | ALPHABET INC-A                 | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    318499 | NS      | $99690187.00  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| REVOLUTION Medicines Inc                          | REVOLUTION MEDIC               | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |    215971 | NS      | $17202090.15  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                                | WALT DISNEY CO/T               | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    193019 | NS      | $21959771.63  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                                      | ING GROEP NV                   | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               | CORP              | NL        |   1581630 | NS      | $44456816.16  | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** VANGUARD HORIZON FUNDS

**Signature:** Ashley Grim

**Name of Signer:** Ashley Grim

**Title:** Treasurer