# EDGAR Filing Document

**Accession Number:** 0000061397
**File Stem:** 0001752724-23-034839
**Filing Date:** 2023-2
**Character Count:** 36905
**Document Hash:** 11ae260b7b0a8b788fe04069592f90e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-034839.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-034839

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY MAGELLAN FUND
- **CENTRAL INDEX KEY:** 0000061397
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01193
- **FILM NUMBER:** 23656907

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **STREET 2:** MAIL ZONE TS1H
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **STREET 2:** MAIL ZONE TS1H
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY MAGELLAN FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MAGELLAN FUND INC
- **DATE OF NAME CHANGE:** 19810804

## Series and Classes Contracts Data

### Fidelity Magellan Fund (Series ID: S000007112)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000019441 | Fidelity Magellan Fund | FMAGX           |
| C000064273 | Class K                | FMGKX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity**<sup>®</sup> **Magellan**<sup>®</sup> **Fund**

**December 31, 2022**

MAG-NPRT3-0323

1.811314.118 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.0%** | &nbsp;&nbsp;**Common Stocks - 98.0%** | &nbsp;&nbsp;**Common Stocks - 98.0%** |
|  | Shares | Value ($)<br> (000s) <br>|
| COMMUNICATION SERVICES - 3.1%  |  |  |
| Interactive Media & Services - 3.1% |  |  |
| Alphabet, Inc.: |  |  |
|  Class A (a) | 4396214  | 387878  |
|  Class C (a) | 3825440  | 339431  |
|  |  | 727309 |
| CONSUMER DISCRETIONARY - 4.1%  |  |  |
| Hotels, Restaurants & Leisure - 2.4% |  |  |
| Airbnb, Inc. Class A (a)(b) | 3393607 | 290153 |
| Hilton Worldwide Holdings, Inc.  | 2168873 | 274059 |
|  |  | 564212 |
| Internet & Direct Marketing Retail - 1.1% |  |  |
| Amazon.com, Inc. (a) | 2890241 | 242780 |
| Multiline Retail - 0.6% |  |  |
| Dollar General Corp.  | 560799 | 138097 |
| TOTAL CONSUMER DISCRETIONARY |  | 945089 |
| CONSUMER STAPLES - 2.0%  |  |  |
| Food & Staples Retailing - 2.0% |  |  |
| Costco Wholesale Corp.  | 999426 | 456238 |
| FINANCIALS - 9.9%  |  |  |
| Capital Markets - 6.6% |  |  |
| Intercontinental Exchange, Inc.  | 3868849 | 396905 |
| Moody's Corp.  | 1412490 | 393548 |
| Raymond James Financial, Inc. (b) | 2861000 | 305698 |
| S&P Global, Inc.  | 1323135 | 443171 |
|  |  | 1539322 |
| Insurance - 3.3% |  |  |
| Arthur J. Gallagher & Co.  | 1982890 | 373854 |
| Marsh & McLennan Companies, Inc.  | 2422538 | 400882 |
|  |  | 774736 |
| TOTAL FINANCIALS |  | 2314058 |
| HEALTH CARE - 17.5%  |  |  |
| Health Care Equipment & Supplies - 1.4% |  |  |
| IDEXX Laboratories, Inc. (a) | 815133 | 332542 |
| Health Care Providers & Services - 4.6% |  |  |
| Humana, Inc.  | 724400 | 371030 |
| UnitedHealth Group, Inc.  | 1303177 | 690918 |
|  |  | 1061948 |
| Health Care Technology - 1.3% |  |  |
| Veeva Systems, Inc. Class A (a) | 1853400 | 299102 |
| Life Sciences Tools & Services - 6.2% |  |  |
| Danaher Corp.  | 1949576 | 517456 |
| Mettler-Toledo International, Inc. (a) | 258566 | 373744 |
| Thermo Fisher Scientific, Inc.  | 978405 | 538798 |
|  |  | 1429998 |
| Pharmaceuticals - 4.0% |  |  |
| Eli Lilly & Co.  | 1457589 | 533244 |
| Zoetis, Inc. Class A  | 2772179 | 406263 |
|  |  | 939507 |
| TOTAL HEALTH CARE |  | 4063097 |
| INDUSTRIALS - 7.5%  |  |  |
| Aerospace & Defense - 1.4% |  |  |
| HEICO Corp. Class A  | 2742235 | 328657 |
| Commercial Services & Supplies - 2.9% |  |  |
| Cintas Corp.  | 868882 | 392404 |
| Copart, Inc. (a) | 4714782 | 287083 |
|  |  | 679487 |
| Professional Services - 3.2% |  |  |
| Equifax, Inc. (b) | 1974162 | 383698 |
| Verisk Analytics, Inc.  | 2017245 | 355882 |
|  |  | 739580 |
| Road & Rail - 0.0% |  |  |
| Bird Global, Inc.: |  |  |
|  Stage 1 rights (a)(c) | 22065  | 0  |
|  Stage 2 rights (a)(c) | 22064  | 0  |
|  Stage 3 rights (a)(c) | 22064  | 0  |
|  |  | 0 |
| TOTAL INDUSTRIALS |  | 1747724 |
| INFORMATION TECHNOLOGY - 41.0%  |  |  |
| Electronic Equipment & Components - 2.9% |  |  |
| Amphenol Corp. Class A  | 4308710 | 328065 |
| CDW Corp.  | 1891620 | 337805 |
|  |  | 665870 |
| IT Services - 10.8% |  |  |
| Accenture PLC Class A  | 1751015 | 467241 |
| Automatic Data Processing, Inc.  | 1607740 | 384025 |
| Gartner, Inc. (a) | 922045 | 309936 |
| MasterCard, Inc. Class A  | 1665549 | 579161 |
| Paychex, Inc.  | 1465054 | 169302 |
| Visa, Inc. Class A  | 2876063 | 597531 |
|  |  | 2507196 |
| Semiconductors & Semiconductor Equipment - 5.5% |  |  |
| KLA Corp.  | 1056979 | 398513 |
| Lam Research Corp.  | 814428 | 342304 |
| NVIDIA Corp.  | 3727949 | 544802 |
|  |  | 1285619 |
| Software - 17.7% |  |  |
| Adobe, Inc. (a) | 1309570 | 440710 |
| Autodesk, Inc. (a) | 1790343 | 334561 |
| Cadence Design Systems, Inc. (a) | 2175805 | 349521 |
| Fortinet, Inc. (a) | 6539017 | 319693 |
| Intuit, Inc.  | 1018173 | 396293 |
| Microsoft Corp.  | 6892561 | 1652978 |
| Palo Alto Networks, Inc. (a)(b) | 2065200 | 288178 |
| Synopsys, Inc. (a) | 1069920 | 341615 |
|  |  | 4123549 |
| Technology Hardware, Storage & Peripherals - 4.1% |  |  |
| Apple, Inc.  | 7359891 | 956271 |
| TOTAL INFORMATION TECHNOLOGY |  | 9538505 |
| MATERIALS - 3.1%  |  |  |
| Chemicals - 3.1% |  |  |
| Linde PLC  | 1355529 | 442146 |
| Sherwin-Williams Co.  | 1167614 | 277110 |
|  |  | 719256 |
| REAL ESTATE - 6.2%  |  |  |
| Equity Real Estate Investment Trusts (REITs) - 6.2% |  |  |
| American Tower Corp.  | 1771439 | 375297 |
| Extra Space Storage, Inc.  | 2174900 | 320102 |
| Prologis (REIT), Inc.  | 3624558 | 408596 |
| SBA Communications Corp. Class A  | 1198068 | 335830 |
|  |  | 1439825 |
| UTILITIES - 3.6%  |  |  |
| Electric Utilities - 2.3% |  |  |
| NextEra Energy, Inc.  | 6342930 | 530269 |
| Water Utilities - 1.3% |  |  |
| American Water Works Co., Inc.  | 2066700 | 315006 |
| TOTAL UTILITIES |  | 845275 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $16,060,866) |  | <br> **22796376** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.5%** | &nbsp;&nbsp;**Money Market Funds - 2.5%** | &nbsp;&nbsp;**Money Market Funds - 2.5%** |
|  | Shares | Value ($)<br> (000s) <br>|
| Fidelity Cash Central Fund 4.37% (d) | 502236748 | 502337 |
| Fidelity Securities Lending Cash Central Fund 4.37% (d)(e) | 77739626 | 77747 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $580,084) |  | **580084** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.5%**<br> (Cost $16,640,950)<br>| <br>**23376460** |
| **NET OTHER ASSETS (LIABILITIES) - (0.5)%**  | **(119818)** |
| **NET ASSETS - 100.0%** | **23256642** |

---

*Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.*

**Legend**

(a) Non-income producing

(b) Security or a portion of the security is on loan at period end.

(c) Level 3 security

(d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(e) Investment made with cash collateral received from securities on loan.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate (Amounts in thousands) | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund 4.37% | 476122 | 4567641 | 4541426 | 4864 | - | - | 502337 | 1.2% |
| Fidelity Securities Lending Cash Central Fund 4.37% | 14193 | 1506425 | 1442871 | 61 | - | - | 77747 | 0.2% |
| Total | 490315 | 6074066 | 5984297 | 4925 | - | - | 580084 |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

**Other Affiliated Issuers**

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate (Amounts in thousands) | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) |
| Rialto Real Estate Fund LP | 18446 | - | 15057 | - | (17188) | 13799 | - |
| Total | 18446 | - | 15057 | - | (17188) | 13799 | - |

---

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Magellan Fund

- **b. Investment Company Act file number:** 811-01193

- **c. CIK number of Registrant:** 0000061397

- **d. LEI of Registrant:** XCODUEQ0D4XIOT1T8X44

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

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

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

- **a. Name of Series:** Fidelity Magellan Fund

- **b. EDGAR series identifier (if any):** S000007112

- **c. LEI of Series:** YHT3QK75G1JTE4XRDE89

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $23347004605.17

**Total Liabilities:** $98753381.38

**Net Assets:** $23248251223.79

**Cash Not Reported:** $3199207.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000019441 | 5.87%                | 6.46%                | -6.61%               |
| Class ID C000064273 | 5.87%                | 6.37%                | -6.56%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-594068891.96           | $1881772404.08                             |
| Month 2  | $-14914785.29            | $1506728429.67                             |
| Month 3  | $569660560.71            | $-2219946124.59                            |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THERMO FISHER SCIENTIFIC INC  | THERMO FISHER SCIENTIFIC INC                          | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    978405 | NS      | $538797849.45  | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS INC                  | SYNOPSYS INC                                          | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |   1069920 | NS      | $341614756.80  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| GARTNER INC                   | GARTNER INC                                           | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |    922045 | NS      | $309936206.30  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORP         | COSTCO WHOLESALE CORP                                 | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |    999426 | NS      | $456237969.00  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTRA SPACE STORAGE INC       | EXTRA SPACE STORAGE INC                               | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2174900 | NS      | $320101782.00  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                     | APPLE INC                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   7359891 | NS      | $956270637.63  | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                | AMAZON.COM INC                                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   2890241 | NS      | $242780244.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION NEW      | AMPHENOL CORPORATION CL A                             | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |   4308710 | NS      | $328065179.40  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                | MICROSOFT CORP                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   6892561 | NS      | $1652973979.02 | 7.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORP             | LAM RESEARCH CORP                                     | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    814428 | NS      | $342304088.40  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                  | ALPHABET INC CL C                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   3825440 | NS      | $339431291.20  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                 | ACCENTURE PLC CL A                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |   1751015 | NS      | $467240842.60  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| S and P GLOBAL INC            | S and P GLOBAL INC                                    | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |   1323135 | NS      | $443170836.90  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                      | VISA INC CL A                                         | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |   2876063 | NS      | $597530848.88  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PLC                     | LINDE PLC                                             | CUSIP: N/A<br>LEI: 8945002PAZHZLBGKGF02       | Long             | EC               | CORP              | IE        |   1355529 | NS      | $442146449.22  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                     | ADOBE INC                                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |   1309570 | NS      | $440709592.10  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC            | NEXTERA ENERGY INC                                    | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   6342930 | NS      | $530268948.00  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC                    | INTUIT INC                                            | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |   1018173 | NS      | $396293295.06  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK INC                  | AUTODESK INC                                          | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |   1790343 | NS      | $334561396.41  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING INC | AUTOMATIC DATA PROCESSING INC                         | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |   1607740 | NS      | $384024776.40  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYMOND JAMES FINANCIAL INC.  | RAYMOND JAMES FINANCIAL INC.                          | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |   2861000 | NS      | $305697850.00  | 1.31%             |  |  |  | No            |                  1 | On Loan: —       |
| EQUIFAX INC                   | EQUIFAX INC                                           | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |   1974162 | NS      | $383698126.32  | 1.65%             |  |  |  | No            |                  1 | On Loan: —       |
| AMERICAN WATER WORKS CO INC   | AMERICAN WATER WRKS COMPANY                           | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |   2066700 | NS      | $315006414.00  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GEN CORP NEW           | DOLLAR GENERAL CORP                                   | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |    505916 | NS      | $124581815.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH and MCLENNAN COS INC    | MARSH and MCLENNAN COS INC                            | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |   2422538 | NS      | $400881588.24  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORP                   | CINTAS CORP                                           | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    868882 | NS      | $392404488.84  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| GALLAGHER (ARTHUR J.) and CO  | ARTHUR J GALLAGHAR AND CO                             | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |   1982890 | NS      | $373854080.60  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS INC    | CADENCE DESIGN SYSTEMS INC                            | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |   2175805 | NS      | $349521315.20  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| LILLY (ELI) and CO            | LILLY (ELI) and CO                                    | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |   1457589 | NS      | $533244359.76  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS INC          | VERISK ANALYTICS INC                                  | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |   2017245 | NS      | $355882362.90  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO CORP NEW                | HEICO CORP CL A                                       | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |   2742235 | NS      | $328656864.75  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTINET INC                  | FORTINET INC                                          | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |   6539017 | NS      | $319692541.13  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BIRD GLOBAL INC               | BIRD RIDES CVR VWAP STAGE 3 11/04/2026 (NON-TRADABLE) | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22064 | NS      | $0.22          | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE INC | INTERCONTINENTAL EXCHANGE INC                         | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |   3868849 | NS      | $396905218.91  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN WILLIAMS CO           | SHERWIN WILLIAMS CO                                   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |   1167614 | NS      | $277109830.62  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOETIS INC                    | ZOETIS INC CL A                                       | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |   2772179 | NS      | $406262832.45  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust  | Fidelity Cash Central Fund                            | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        | 502236748 | NS      | $502337195.83  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                  | DANAHER CORP                                          | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   1949576 | NS      | $517456461.92  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS INC        | PALO ALTO NETWORKS INC                                | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |   2065200 | NS      | $288178008.00  | 1.24%             |  |  |  | No            |                  1 | On Loan: —       |
| COPART INC                    | COPART INC                                            | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |   4714782 | NS      | $287083075.98  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                      | KLA CORP                                              | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |   1056979 | NS      | $398512792.37  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX LABORATORIES INC        | IDEXX LABS INC                                        | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |    815133 | NS      | $332541658.68  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW CORP                      | CDW CORPORATION                                       | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |   1891620 | NS      | $337805499.60  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust  | Fidelity Securities Lending Cash Central Fund         | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  75909334 | NS      | $75916925.01   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                   | NVIDIA CORP                                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   3727949 | NS      | $544802466.86  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BIRD GLOBAL INC               | BIRD RIDES CVR VWAP STAGE 1 11/04/2026 (NON-TRADABLE) | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22065 | NS      | $0.22          | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VEEVA SYS INC                 | VEEVA SYS INC CL A                                    | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |   1853400 | NS      | $299101692.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                | MASTERCARD INC CL A                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |   1665549 | NS      | $579161353.77  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                   | PAYCHEX INC                                           | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |   1235292 | NS      | $142750343.52  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTL INC       | METTLER-TOLEDO INTL INC                               | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |    258566 | NS      | $373744224.70  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA COMMUNICATIONS CORP       | SBA COMMUNICATIONS CORP                               | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |   1198068 | NS      | $335830441.08  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB INC                    | AIRBNB INC CLASS A                                    | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |   3393607 | NS      | $290153398.50  | 1.25%             |  |  |  | No            |                  1 | On Loan: —       |
| HUMANA INC                    | HUMANA INC                                            | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |    724400 | NS      | $371030436.00  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC        | UNITEDHEALTH GROUP INC                                | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |   1303177 | NS      | $690918381.86  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP           | AMERICAN TOWER CORP                                   | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |   1771439 | NS      | $375297066.54  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC | HILTON WORLDWIDE HOLDINGS INC                         | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |   2168873 | NS      | $274058792.28  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BIRD GLOBAL INC               | BIRD RIDES CVR VWAP STAGE 2 11/04/2026 (NON-TRADABLE) | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     22064 | NS      | $0.22          | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MOODYS CORP                   | MOODYS CORP                                           | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |   1412490 | NS      | $393547963.80  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS INC                  | PROLOGIS INC REIT                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |   3624558 | NS      | $408596423.34  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                  | ALPHABET INC CL A                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   4396214 | NS      | $387877961.22  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer