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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMETEK, Inc.</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canva, Inc.</name>
        <lei>N/A</lei>
        <title>Canva, Inc.</title>
        <cusip>N/A</cusip>
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        <invCountry>AU</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Stripe, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CoStar Group, Inc.</name>
        <lei>N/A</lei>
        <title>CoStar Group, Inc.</title>
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          <isin value="US22160N1090"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NVIDIA Corp.</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp.</title>
        <cusip>67066G104</cusip>
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          <isin value="US67066G1040"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equifax, Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
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          <isin value="US2944291051"/>
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        <curCd>USD</curCd>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135106</cusip>
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          <isin value="US0231351067"/>
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        <balance>4686824.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>484102050.96000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Haemonetics Corp.</name>
        <lei>549300ZEL6TXZS6F5F95</lei>
        <title>Haemonetics Corp.</title>
        <cusip>405024100</cusip>
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          <isin value="US4050241003"/>
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        <balance>747064.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61819546.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Xylem, Inc.</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>Xylem, Inc.</title>
        <cusip>98419M100</cusip>
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          <isin value="US98419M1009"/>
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        <balance>802201.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83990444.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lattice Semiconductor Corp.</name>
        <lei>549300LRBBPZDQ2II567</lei>
        <title>Lattice Semiconductor Corp.</title>
        <cusip>518415104</cusip>
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          <isin value="US5184151042"/>
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        <balance>253000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24161500.00000000</valUSD>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807102</cusip>
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          <isin value="US6668071029"/>
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        <balance>635597.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>293467846.84000000</valUSD>
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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>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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          <isin value="US5324571083"/>
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        <balance>903784.00000000</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>Danaher Corp.</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>Danaher Corp.</title>
        <cusip>235851102</cusip>
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          <isin value="US2358511028"/>
          <other otherDesc="Inhouse Asset ID" value="29654"/>
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        <balance>1106072.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>278774386.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
        <cusip>863667101</cusip>
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          <isin value="US8636671013"/>
          <other otherDesc="Inhouse Asset ID" value="1157"/>
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        <balance>394047.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112488597.09000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Adyen NV</name>
        <lei>724500973ODKK3IFQ447</lei>
        <title>Adyen NV</title>
        <cusip>N/A</cusip>
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          <isin value="NL0012969182"/>
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        <balance>73341.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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>
        <identifiers>
          <isin value="US02079K1079"/>
          <other otherDesc="Inhouse Asset ID" value="614215"/>
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        <balance>2519700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262048800.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intuit, Inc.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc.</title>
        <cusip>461202103</cusip>
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          <isin value="US4612021034"/>
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        <balance>738631.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>329303858.73000000</valUSD>
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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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      <invstOrSec>
        <name>BlackRock, Inc.</name>
        <lei>549300LRIF3NWCU26A80</lei>
        <title>BlackRock, Inc.</title>
        <cusip>09247X101</cusip>
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          <isin value="US09247X1019"/>
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        <curCd>USD</curCd>
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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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      <invstOrSec>
        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc., Class A</title>
        <cusip>21036P108</cusip>
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          <isin value="US21036P1084"/>
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        <balance>535378.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Snowflake, Inc.</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>Snowflake, Inc., Class A</title>
        <cusip>833445109</cusip>
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          <isin value="US8334451098"/>
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        <balance>537179.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gusto Distributing Co.</name>
        <lei>N/A</lei>
        <title>Gusto, Inc., Series E</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1154587"/>
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        <balance>822494.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28668903.50000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
        <cusip>760759100</cusip>
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          <isin value="US7607591002"/>
          <other otherDesc="Inhouse Asset ID" value="55349"/>
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        <balance>624999.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84512364.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mettler-Toledo International, Inc.</name>
        <lei>5493000BD5GJNUDIUG10</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Apple, Inc.</name>
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        <title>Apple, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Automatic Data Processing, Inc.</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NextEra Energy, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sartorius AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Argenx SE</name>
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          <isin value="US04016X1019"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Canvas, Inc.</name>
        <lei>N/A</lei>
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        <name>Uber Technologies, Inc.</name>
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        <title>Uber Technologies, Inc.</title>
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        <name>Mastercard, Inc.</name>
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          <isin value="US57636Q1040"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Checkout Payments Group Ltd.</name>
        <lei>213800VZSCTVSAZUJO06</lei>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
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          <isin value="US5178341070"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teleflex, Inc.</name>
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        <title>Teleflex, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tesla, Inc.</name>
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        <title>Tesla, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gitlab, Inc.</name>
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        <title>Gitlab, Inc., Class A</title>
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        <name>PTC, Inc.</name>
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        <title>PTC, Inc.</title>
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        <name>Lamb Weston Holdings, Inc.</name>
        <lei>5493005SMYID1D2OY946</lei>
        <title>Lamb Weston Holdings, Inc.</title>
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        <name>BILL Holdings, Inc.</name>
        <lei>549300IBF9VZZIGOZW63</lei>
        <title>BILL Holdings, Inc.</title>
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        <name>ASML Holding NV</name>
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        <name>Illumina, Inc.</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina, Inc.</title>
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        <name>Trane Technologies plc</name>
        <lei>549300BURLR9SLYY2705</lei>
        <title>Trane Technologies plc</title>
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        <invCountry>IE</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>American Water Works Co., Inc.</name>
        <lei>549300DXHIJQMD5WFW18</lei>
        <title>American Water Works Co., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Enphase Energy, Inc.</name>
        <lei>5493008U7KIGMI59Z314</lei>
        <title>Enphase Energy, Inc.</title>
        <cusip>29355A107</cusip>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>Adobe, Inc.</title>
        <cusip>00724F101</cusip>
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          <isin value="US00724F1012"/>
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        <balance>145393.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56030100.41000000</valUSD>
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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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Veeva Systems, Inc.</name>
        <lei>549300YZEXPDB92M2F02</lei>
        <title>Veeva Systems, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ROBLOX Corp.</name>
        <lei>N/A</lei>
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          <isin value="US7710491033"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Autodesk, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Deere &amp; Co.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Airbnb, Inc.</name>
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          <isin value="US0090661010"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stripe, Inc.</name>
        <lei>549300CLHGIPTCYHQ143</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>S&amp;P Global, Inc.</name>
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        <title>S&amp;P Global, Inc.</title>
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          <isin value="US78409V1044"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AstraZeneca plc</name>
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        <title>AstraZeneca plc</title>
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          <isin value="US0463531089"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANSYS, Inc.</name>
        <lei>549300VJV8H15Z5FJ571</lei>
        <title>ANSYS, Inc.</title>
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          <isin value="US03662Q1058"/>
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        <curCd>USD</curCd>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian Pacific Railway Ltd.</name>
        <lei>N/A</lei>
        <title>Canadian Pacific Railway Ltd.</title>
        <cusip>13645T100</cusip>
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          <isin value="CA13645T1003"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
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          <isin value="US0028241000"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Air Products and Chemicals, Inc.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>Air Products and Chemicals, Inc.</title>
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          <isin value="US0091581068"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Costco Wholesale Corp.</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp.</title>
        <cusip>22160K105</cusip>
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          <isin value="US22160K1051"/>
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        <balance>53949.00000000</balance>
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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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      <invstOrSec>
        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
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          <isin value="US05605H1005"/>
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        <name>Keysight Technologies, Inc.</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies, Inc.</title>
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        <name>Procore Technologies, Inc.</name>
        <lei>5493005PTWY0RHYRAH22</lei>
        <title>Procore Technologies, Inc.</title>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp., Class A</title>
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        <name>Laboratory Corp. of America Holdings</name>
        <lei>OZ7UA8IXAIFILY2VZH07</lei>
        <title>Laboratory Corp. of America Holdings</title>
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        <name>Blackstone, Inc.</name>
        <lei>5299004LW4QWGZUB8Y96</lei>
        <title>Blackstone, Inc.</title>
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        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
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        <name>JB Hunt Transport Services, Inc.</name>
        <lei>549300XCD1MPI1C5GK90</lei>
        <title>JB Hunt Transport Services, Inc.</title>
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      <invstOrSec>
        <name>Stripe, Inc.</name>
        <lei>549300CLHGIPTCYHQ143</lei>
        <title>Stripe, Inc., Class B</title>
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      <invstOrSec>
        <name>Canva, Inc.</name>
        <lei>N/A</lei>
        <title>Canva, Inc., Series A-3</title>
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      <invstOrSec>
        <name>Brown-Forman Corp.</name>
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      <invstOrSec>
        <name>OneTrust LLC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Atlassian Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Crown Castle, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Charles Schwab Corp. (The)</name>
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          <isin value="US8085131055"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edwards Lifesciences Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Proterra, Inc.</name>
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          <isin value="US74374T1097"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
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        <title>Verisk Analytics, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ingersoll Rand, Inc.</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Ingersoll Rand, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Allegion plc</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ServiceNow, Inc.</name>
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        <title>ServiceNow, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Estee Lauder Cos., Inc. (The)</name>
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        <title>Estee Lauder Cos., Inc. (The), Class A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Prologis, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NIKE, Inc.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE, Inc., Class B</title>
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        <name>TE Connectivity Ltd.</name>
        <lei>894500ZRIX9K13RHXR17</lei>
        <title>TE Connectivity Ltd.</title>
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        <name>Canva, Inc.</name>
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        <name>Martin Marietta Materials, Inc.</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials, Inc.</title>
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        <name>Raytheon Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp.</title>
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        <name>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Intuitive Surgical, Inc.</name>
        <lei>54930052SRG011710797</lei>
        <title>Intuitive Surgical, Inc.</title>
        <cusip>46120E602</cusip>
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        <balance>996140.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>254483885.80000000</valUSD>
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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>Union Pacific Corp.</name>
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      <invstOrSec>
        <name>Shopify, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <name>Booking Holdings, Inc.</name>
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        <name>Tradeweb Markets, Inc.</name>
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        <name>Paymentus Holdings, Inc.</name>
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        <name>Tyler Technologies, Inc.</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Synopsys, Inc.</name>
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        <name>Dover Corp.</name>
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        <name>Visa, Inc.</name>
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        <name>Illinois Tool Works, Inc.</name>
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        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
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        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
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        <name>Paycom Software, Inc.</name>
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        <name>Catalent, Inc.</name>
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        <name>Fastenal Co.</name>
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        <name>Lam Research Corp.</name>
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        <name>Canva, Inc.</name>
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        <name>Lockheed Martin Corp.</name>
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        <title>Lockheed Martin Corp.</title>
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        <name>Cable One, Inc.</name>
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      <invstOrSec>
        <name>Texas Instruments, Inc.</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments, Inc.</title>
        <cusip>882508104</cusip>
        <identifiers>
          <isin value="US8825081040"/>
          <other otherDesc="Inhouse Asset ID" value="5041"/>
        </identifiers>
        <balance>1344118.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>250019389.18000000</valUSD>
        <pctVal>1.569566105665</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>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
        <cusip>79466L302</cusip>
        <identifiers>
          <isin value="US79466L3024"/>
          <other otherDesc="Inhouse Asset ID" value="308705"/>
        </identifiers>
        <balance>541262.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>108133322.36000000</valUSD>
        <pctVal>0.678836942310</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>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc., Class A</title>
        <cusip>98138H101</cusip>
        <identifiers>
          <isin value="US98138H1014"/>
          <other otherDesc="Inhouse Asset ID" value="532814"/>
        </identifiers>
        <balance>670401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>138464622.54000000</valUSD>
        <pctVal>0.869250097303</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>Monolithic Power Systems, Inc.</name>
        <lei>529900TB7O85LSZ1XU31</lei>
        <title>Monolithic Power Systems, Inc.</title>
        <cusip>609839105</cusip>
        <identifiers>
          <isin value="US6098391054"/>
          <other otherDesc="Inhouse Asset ID" value="322260"/>
        </identifiers>
        <balance>432145.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>216305858.30000000</valUSD>
        <pctVal>1.357920058752</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>Linde plc</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
          <other otherDesc="Inhouse Asset ID" value="1239901"/>
        </identifiers>
        <balance>697627.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>247964540.88000000</valUSD>
        <pctVal>1.556666225161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-05-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Custodian Funds</ncom:nameOfApplicant>
      <ncom:signature>Ryan Wheeler</ncom:signature>
      <ncom:signerName>Ryan Wheeler</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
