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        <name>ONTO INNOVATION INC.</name>
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        <name>Markel Group Inc.</name>
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      <invstOrSec>
        <name>CELSIUS HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SUPER MICRO COMPUTER, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Elastic N.V.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYSCO CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>COLGATE-PALMOLIVE COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PURE STORAGE, INC.</name>
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        <name>Popular, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>DYNATRACE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TEMPUS AI, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BENTLEY SYSTEMS, INCORPORATED</name>
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        <title>BENTLEY SYSTEMS INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Summit Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>SUMMIT THERAPEUTICS INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TRACTOR SUPPLY COMPANY</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VAIL RESORTS, INC.</name>
        <lei>529900PSZHRNU9HKH870</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>INCYTE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PLANET FITNESS, INC.</name>
        <lei>549300LLE5HUPF6H8G33</lei>
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        <name>DARDEN RESTAURANTS, INC.</name>
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        <name>SOFI TECHNOLOGIES, INC.</name>
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        <name>Procore Technologies Inc</name>
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        <name>Dutch Bros Inc</name>
        <lei>N/A</lei>
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        <name>THE GOLDMAN SACHS GROUP, INC.</name>
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        <name>APPLIED MATERIALS, INC.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
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        <name>TAKE-TWO INTERACTIVE SOFTWARE, INC.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>TAKE TWO INTERACTIVE SOFTWARE INC</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>STEEL DYNAMICS, INC.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>STEEL DYNAMICS INC</title>
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        <assetCat>EC</assetCat>
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        <name>VERTIV HOLDINGS CO</name>
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        <fairValLevel>1</fairValLevel>
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        <name>WASTE MANAGEMENT, INC.</name>
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        <name>PAYCHEX, INC.</name>
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        <name>THE CIGNA GROUP</name>
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        <name>LIBERTY BROADBAND CORPORATION</name>
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        <name>Ultragenyx Pharmaceutical Inc</name>
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        <name>WINGSTOP INC.</name>
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        <name>STARBUCKS CORPORATION</name>
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        <name>The Bank of New York Mellon Corporation</name>
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        <name>PENUMBRA, INC.</name>
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        <name>LATTICE SEMICONDUCTOR CORPORATION</name>
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        <name>Somnigroup International Inc.</name>
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        <name>TRADEWEB MARKETS INC.</name>
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        <name>BOOZ ALLEN HAMILTON HOLDING CORPORATION</name>
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        <name>H &amp; R BLOCK, INC.</name>
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        <name>MASTERCARD INCORPORATED.</name>
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        <name>TRANSDIGM GROUP INCORPORATED</name>
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        <name>DRAFTKINGS INC.</name>
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        <name>ROBINHOOD MARKETS, INC.</name>
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        <name>CROWDSTRIKE HOLDINGS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NVIDIA CORPORATION</name>
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        <name>ABBVIE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.</name>
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        <name>SHARKNINJA, INC.</name>
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        <name>SALESFORCE, INC.</name>
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        <name>CARVANA CO.</name>
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        <name>TYLER TECHNOLOGIES, INC.</name>
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        <name>CHEWY, INC.</name>
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        <name>GILEAD SCIENCES, INC.</name>
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        <name>DoubleVerify Holdings Inc</name>
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        <name>BOOKING HOLDINGS INC.</name>
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        <name>MCDONALD'S CORPORATION</name>
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        <name>ROYAL CARIBBEAN CRUISES LTD.</name>
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        <name>SAREPTA THERAPEUTICS, INC.</name>
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        <name>MOTOROLA SOLUTIONS, INC.</name>
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        <name>FASTENAL COMPANY</name>
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        <name>COUPANG, INC.</name>
        <lei>549300XR4L1D80AK4W76</lei>
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        <name>PAYCOM SOFTWARE, INC.</name>
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        <name>Lazard, Inc.</name>
        <lei>N/A</lei>
        <title>LAZARD INC</title>
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        <name>THE TRADE DESK, INC.</name>
        <lei>549300GXPD31VT3E0P46</lei>
        <title>THE TRADE DESK INC</title>
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        <name>CARDINAL HEALTH, INC.</name>
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        <name>HEICO CORPORATION</name>
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        <name>COSTAR GROUP, INC.</name>
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        <name>Carnival Corporation</name>
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        <name>KKR &amp; CO. INC.</name>
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        <name>LIBERTY MEDIA CORP - FORMULA ONE GROUP</name>
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        <name>PUBLIC STORAGE.</name>
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        <name>GARTNER, INC.</name>
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        <name>DELL TECHNOLOGIES INC.</name>
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        <name>BWX TECHNOLOGIES, INC.</name>
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        <name>CITIGROUP INC.</name>
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        <name>YUM! Brands, Inc.</name>
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        <name>Everest Group, Ltd.</name>
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        <name>MARRIOTT INTERNATIONAL, INC.</name>
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        <name>AUTOMATIC DATA PROCESSING, INC.</name>
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        <name>CADENCE DESIGN SYSTEMS, INC.</name>
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        <name>E MINI RUSS 1000 GSEP25</name>
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        <name>CLOUDFLARE, INC.</name>
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        <name>MOODY'S CORPORATION</name>
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        <name>JONES LANG LASALLE INCORPORATED</name>
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        <name>UBER TECHNOLOGIES, INC.</name>
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        <name>DOORDASH, INC.</name>
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        <name>SentinelOne Inc</name>
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        <name>RH</name>
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        <name>LENNOX INTERNATIONAL INC.</name>
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        <name>PINTEREST, INC.</name>
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        <name>CHEMED CORPORATION</name>
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        <name>ETSY, INC.</name>
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        <name>ZOETIS INC.</name>
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        <name>POOL CORPORATION</name>
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        <name>EAGLE MATERIALS INC.</name>
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        <name>AST SPACEMOBILE, INC.</name>
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        <name>KIMBERLY-CLARK CORPORATION</name>
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        <name>SERVICENOW, INC.</name>
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        <name>LAMAR ADVERTISING COMPANY</name>
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        <name>MICROSTRATEGY INCORPORATED</name>
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        <name>NORWEGIAN CRUISE LINE HOLDINGS LTD.</name>
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        <name>ENPHASE ENERGY, INC.</name>
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        <name>NETFLIX, INC.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX COM INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ARMSTRONG WORLD INDUSTRIES, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EMCOR GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMGEN INC.</name>
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        <name>BLACKROCK LIQUIDITY FUNDS FEDFUND PORTFOLIO</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NRG ENERGY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ROCKET LAB USA, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BROWN &amp; BROWN, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>INTUITIVE SURGICAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>RYAN SPECIALTY HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNION PACIFIC CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Shift4 Payments Inc</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>U-Haul Holding Company</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ELI LILLY AND COMPANY</name>
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        <name>DOMINO'S PIZZA, INC.</name>
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        <name>CARLISLE COMPANIES INCORPORATED</name>
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        <name>AUTODESK, INC.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
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        <name>ADOBE INC.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
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        <name>MEDPACE HOLDINGS, INC.</name>
        <lei>549300H8TYEUVTW14A54</lei>
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        <name>ANGLOGOLD ASHANTI PLC</name>
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        <invCountry>GB</invCountry>

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        <name>MONSTER BEVERAGE CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>W.W. GRAINGER, INC.</name>
        <lei>549300TWZSP6O1IH2V34</lei>
        <title>W W GRAINGER INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ECOLAB INC.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>ECOLAB INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TOAST, INC.</name>
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        <name>GODADDY INC.</name>
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        <name>AON PUBLIC LIMITED COMPANY</name>
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        <name>INSMED INCORPORATED</name>
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        <name>WILLSCOT HOLDINGS CORPORATION</name>
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        <name>QUALCOMM INCORPORATED</name>
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        <name>Duolingo Inc</name>
        <lei>N/A</lei>
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        <name>REDDIT INC.</name>
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        <name>NEXSTAR MEDIA GROUP, INC.</name>
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        <name>LAM RESEARCH CORPORATION</name>
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        <name>DATADOG, INC.</name>
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        <name>Viking Holdings Ltd</name>
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        <name>COINBASE GLOBAL, INC.</name>
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        <name>GE VERNOVA INC.</name>
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        <name>SUN COMMUNITIES, INC.</name>
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        <name>AMAZON.COM, INC.</name>
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        <title>AMAZON COM INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ZSCALER, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>HAMILTON LANE INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>VISA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Inspire Medical Systems Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Samsara Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ATLASSIAN CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>WEX INC.</name>
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        <title>WEX US</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>CREDIT ACCEPTANCE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CBRE GROUP, INC.</name>
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      <invstOrSec>
        <name>THE COCA-COLA COMPANY</name>
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        <title>COCA COLA CO</title>
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        <name>ORACLE CORPORATION</name>
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        <name>Restaurant Brands International Inc.</name>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KLA CORPORATION</name>
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        <name>TERADATA CORPORATION</name>
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        <name>Nu Holdings Ltd</name>
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        <title>NU HOLDINGS LTD CAYMAN ISLANDS</title>
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        <invCountry>KY</invCountry>

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        <name>PERFORMANCE FOOD GROUP COMPANY</name>
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        <title>PERFORMANCE FOOD GROUP COMPANY</title>
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        <name>MOLINA HEALTHCARE, INC.</name>
        <lei>549300NQQCEQ46YHZ591</lei>
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        <name>BLOCK, INC.</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block Inc</title>
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        <name>ALLY FINANCIAL INC.</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>ALLY FINANCIAL INC</title>
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        <name>CATERPILLAR INC.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC</title>
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        <name>STRYKER CORPORATION</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>EQUIFAX INC.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>EQUIFAX INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CAVA GROUP, INC.</name>
        <lei>N/A</lei>
        <title>CAVA GROUP INC</title>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>DAYFORCE, INC.</name>
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        <name>GitLab Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>LIBERTY BROADBAND CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>EXACT SCIENCES CORPORATION</name>
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        <name>MSCI INC.</name>
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        <name>GLOBANT S.A.</name>
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        <name>SIMON PROPERTY GROUP, INC.</name>
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        <name>IONIS PHARMACEUTICALS, INC.</name>
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        <name>INSULET CORPORATION</name>
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        <name>QUANTA SERVICES, INC.</name>
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        <name>SPIRIT AEROSYSTEMS HOLDINGS, INC.</name>
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        <name>BJ'S WHOLESALE CLUB HOLDINGS, INC.</name>
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        <name>THE PROGRESSIVE CORPORATION</name>
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        <name>THE TJX COMPANIES, INC.</name>
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        <name>ENTEGRIS, INC.</name>
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        <name>HUBSPOT, INC.</name>
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        <title>HUBSPOT INC</title>
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        <name>VISTRA CORP.</name>
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        <title>VISTRA CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>APELLIS PHARMACEUTICALS, INC.</name>
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      <invstOrSec>
        <name>EXELIXIS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LIGHT &amp; WONDER, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CORE &amp; MAIN, INC.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FREEDOM HOLDING CORP.</name>
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        <title>FREEDOM HOLDING CORP NV</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MCKESSON CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GEN DIGITAL INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE BOEING COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CHURCHILL DOWNS INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE WILLIAMS COMPANIES, INC.</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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        <name>ULTA BEAUTY, INC.</name>
        <lei>529900CIV6HN8M28YM82</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HILTON WORLDWIDE HOLDINGS INC.</name>
        <lei>549300HVGPK36ICB0B89</lei>
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        <name>STANDARDAERO, INC.</name>
        <lei>N/A</lei>
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        <name>NCINO, INC.</name>
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        <name>THE CHARLES SCHWAB CORPORATION</name>
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        <title>THE CHARLES SCHWAB CORP</title>
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        <name>DEXCOM, INC.</name>
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        <name>WYNDHAM HOTELS &amp; RESORTS, INC.</name>
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        <name>APOLLO GLOBAL MANAGEMENT, INC.</name>
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        <name>NUTANIX, INC.</name>
        <lei>549300X7J6E8TKVIXW09</lei>
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        <name>COMFORT SYSTEMS USA, INC.</name>
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        <name>ARISTA NETWORKS, INC.</name>
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        <name>ROLLINS, INC.</name>
        <lei>549300F2A0BXT4SGWD84</lei>
        <title>ROLLINS INC</title>
        <cusip>775711104</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GRAND CANYON EDUCATION, INC.</name>
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        <title>GRAND CANYON EDUCATION INC</title>
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          <isin value="US38526M1062"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE WENDY'S COMPANY</name>
        <lei>529900M0JIUCMWVKHG76</lei>
        <title>THE WENDY S COMPANY</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WALMART INC.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC</title>
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          <isin value="US9311421039"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SNOWFLAKE INC.</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>SNOWFLAKE INC</title>
        <cusip>833445109</cusip>
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        <balance>6398.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHENIERE ENERGY, INC.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
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          <isin value="US16411R2085"/>
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        <balance>2032.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL MYERS SQUIBB CO</title>
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          <isin value="US1101221083"/>
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        <balance>8026.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC CLASS C</title>
        <cusip>02079K107</cusip>
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          <isin value="US02079K1079"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRESHPET, INC.</name>
        <lei>549300S4ZK8ZQ6HNPN59</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COPART, INC.</name>
        <lei>549300KVYX3JWMYEHU61</lei>
        <title>COPART INC</title>
        <cusip>217204106</cusip>
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          <isin value="US2172041061"/>
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        <balance>16860.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WORKDAY, INC.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>WORKDAY INC CLASS A</title>
        <cusip>98138H101</cusip>
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          <isin value="US98138H1014"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE HERSHEY COMPANY</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>HERSHEY COMPANY</title>
        <cusip>427866108</cusip>
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        <balance>369.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC CLASS A</title>
        <cusip>02079K305</cusip>
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          <isin value="US02079K3059"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROSS STORES, INC.</name>
        <lei>549300ENZFLPGRDFZQ60</lei>
        <title>ROSS STORES INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PAYLOCITY HOLDING CORPORATION</name>
        <lei>549300VH75FTB4DIEE07</lei>
        <title>PAYLOCITY HOLDING CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TAPESTRY, INC.</name>
        <lei>549300LJNVY5SW3VTN33</lei>
        <title>TAPESTRY INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AIRBNB, INC.</name>
        <lei>549300HMUDNO0RY56D37</lei>
        <title>AIRBNB INC CLASS A</title>
        <cusip>009066101</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE HOME DEPOT, INC.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC</title>
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        <name>EXPEDIA GROUP, INC.</name>
        <lei>N/A</lei>
        <title>EXPEDIA GROUP INC</title>
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        <name>TPG INC.</name>
        <lei>549300NLO4R8MX77XJ02</lei>
        <title>TPG INC</title>
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        <name>REPLIGEN CORPORATION</name>
        <lei>54930006QJ0T5AUO1E71</lei>
        <title>REPLIGEN CORP</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>AMERICAN TOWER CORPORATION</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP REIT</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VALVOLINE INC.</name>
        <lei>549300CMHPBEY6VPOT75</lei>
        <title>VALVOLINE INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>O'Reilly Automotive, Inc.</name>
        <lei>549300K2RLMQL149Q332</lei>
        <title>O REILLY AUTOMOTIVE INC</title>
        <cusip>67103H107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WATERS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FISERV, INC.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PHILLIPS 66</name>
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          <isin value="US7185461040"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AVIS BUDGET GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>VERISK ANALYTICS, INC.</name>
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        <name>RBC BEARINGS INCORPORATED</name>
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      <invstOrSec>
        <name>SOUTHWEST AIRLINES CO.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AXON ENTERPRISE, INC.</name>
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        <name>RESMED INC.</name>
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        <name>HALOZYME THERAPEUTICS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TRUMP MEDIA &amp; TECHNOLOGY GROUP CORP.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ROKU, INC.</name>
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        <name>CONFLUENT, INC.</name>
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        <name>RINGCENTRAL, INC.</name>
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        <name>LAS VEGAS SANDS CORP.</name>
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        <name>VERTEX PHARMACEUTICALS INCORPORATED</name>
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        <name>THE SHERWIN-WILLIAMS COMPANY</name>
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        <name>HCA HEALTHCARE, INC.</name>
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        <name>XPO, INC.</name>
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        <name>UWM HOLDINGS CORPORATION</name>
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        <name>MASIMO CORPORATION</name>
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        <name>AMERICAN AIRLINES GROUP INC.</name>
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        <title>AMERICAN AIRLINES GROUP INC</title>
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        <name>MICROSOFT CORPORATION</name>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORNINGSTAR, INC.</name>
        <lei>529900YGNQPOVAXQ7F29</lei>
        <title>MORNINGSTAR INC</title>
        <cusip>617700109</cusip>
        <identifiers>
          <isin value="US6177001095"/>
          <other otherDesc="Internal" value="617700109"/>
        </identifiers>
        <balance>327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>102655.11000000</valUSD>
        <pctVal>0.016936716571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MANHATTAN ASSOCIATES, INC.</name>
        <lei>529900Q1GJP7KD52SW51</lei>
        <title>MANHATTAN ASSOCIATES INC</title>
        <cusip>562750109</cusip>
        <identifiers>
          <isin value="US5627501092"/>
          <other otherDesc="Internal" value="562750109"/>
        </identifiers>
        <balance>1180.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>233014.60000000</valUSD>
        <pctVal>0.038444284334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARSH &amp; MCLENNAN COMPANIES, INC.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH MCLENNAN COS INC</title>
        <cusip>571748102</cusip>
        <identifiers>
          <isin value="US5717481023"/>
          <other otherDesc="Internal" value="571748102"/>
        </identifiers>
        <balance>1198.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>261930.72000000</valUSD>
        <pctVal>0.043215056376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC</title>
        <cusip>037833100</cusip>
        <identifiers>
          <isin value="US0378331005"/>
          <other otherDesc="Internal" value="037833100"/>
        </identifiers>
        <balance>301747.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61909431.99000000</valUSD>
        <pctVal>10.21422608891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Allianz Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Monique Labbe</ncom:signature>
      <ncom:signerName>Monique Labbe</ncom:signerName>
      <ncom:title>Treasurer - Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
