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        <name>TECHNE Corp.</name>
        <lei>54930073RLKQ51TILZ35</lei>
        <title>TECHNE Corp.</title>
        <cusip>09073M104</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="09073M104"/>
          <other otherDesc="Primary Identifier" value="09073M104"/>
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        <curCd>USD</curCd>
        <valUSD>3199577.76000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TransUnion</name>
        <lei>549300ZS772LUNUMRB03</lei>
        <title>TransUnion</title>
        <cusip>89400J107</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="89400J107"/>
          <other otherDesc="Primary Identifier" value="89400J107"/>
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        <balance>158175.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13541361.75000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IDEX Corp.</name>
        <lei>549300U5Y5EL6PHYLF13</lei>
        <title>IDEX Corp.</title>
        <cusip>45167R104</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="45167R104"/>
          <other otherDesc="Primary Identifier" value="45167R104"/>
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        <balance>54482.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9370904.00000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novanta Inc.</name>
        <lei>N/A</lei>
        <title>Novanta Inc.</title>
        <cusip>67000B104</cusip>
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          <other otherDesc="Primary Identifier" value="67000B104"/>
          <other otherDesc="Primary Identifier" value="67000B104"/>
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        <balance>31515.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2787186.60000000</valUSD>
        <pctVal>0.509252348713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tyler Technologies Inc.</name>
        <lei>N/A</lei>
        <title>Tyler Technologies Inc.</title>
        <cusip>902252105</cusip>
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          <other otherDesc="Primary Identifier" value="902252105"/>
          <other otherDesc="Primary Identifier" value="902252105"/>
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        <balance>26916.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8075338.32000000</valUSD>
        <pctVal>1.475460956262</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>Keysight Technologies Inc.</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies Inc.</title>
        <cusip>49338L103</cusip>
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          <other otherDesc="Primary Identifier" value="49338L103"/>
          <other otherDesc="Primary Identifier" value="49338L103"/>
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        <balance>116013.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11906414.19000000</valUSD>
        <pctVal>2.175444367813</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Abiomed Inc.</name>
        <lei>5493001EZN4ZTB4Z5887</lei>
        <title>Abiomed Inc.</title>
        <cusip>003654100</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="003654100"/>
          <other otherDesc="Primary Identifier" value="003654100"/>
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        <balance>34995.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5969797.05000000</valUSD>
        <pctVal>1.090753367232</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>Gardner Denver Holdings Inc.</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Gardner Denver Holdings Inc.</title>
        <cusip>36555P107</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="36555P107"/>
          <other otherDesc="Primary Identifier" value="36555P107"/>
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        <balance>164529.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6034923.72000000</valUSD>
        <pctVal>1.102652789274</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>Twitter Inc.</name>
        <lei>549300I8RX485XMK6836</lei>
        <title>Twitter Inc.</title>
        <cusip>90184L102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="90184L102"/>
          <other otherDesc="Primary Identifier" value="90184L102"/>
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        <balance>167684.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5374272.20000000</valUSD>
        <pctVal>0.981943849929</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>Arista Networks Inc.</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>Arista Networks Inc.</title>
        <cusip>040413106</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="040413106"/>
          <other otherDesc="Primary Identifier" value="040413106"/>
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        <balance>35467.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7213987.80000000</valUSD>
        <pctVal>1.318081907663</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>RPM International Inc.</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM International Inc.</title>
        <cusip>749685103</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="749685103"/>
          <other otherDesc="Primary Identifier" value="749685103"/>
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        <balance>112276.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8618305.76000000</valUSD>
        <pctVal>1.574667605754</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>Maxim Integrated Products Inc.</name>
        <lei>SO0H5YEO14Y4PVKQH532</lei>
        <title>Maxim Integrated Products Inc.</title>
        <cusip>57772K101</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="57772K101"/>
          <other otherDesc="Primary Identifier" value="57772K101"/>
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        <balance>159084.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9785256.84000000</valUSD>
        <pctVal>1.787883534075</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>Scotts Miracle-Gro Co. (The)</name>
        <lei>2TH9E0JTOUXOEGI2R879</lei>
        <title>Scotts Miracle-Gro Co. (The)</title>
        <cusip>810186106</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="810186106"/>
          <other otherDesc="Primary Identifier" value="810186106"/>
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        <balance>64621.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6861457.78000000</valUSD>
        <pctVal>1.253670453949</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>
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      <invstOrSec>
        <name>DocuSign Inc.</name>
        <lei>549300Q7PVDWRZ39JG09</lei>
        <title>DocuSign Inc.</title>
        <cusip>256163106</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="256163106"/>
          <other otherDesc="Primary Identifier" value="256163106"/>
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        <balance>92176.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6831163.36000000</valUSD>
        <pctVal>1.248135300853</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>
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      <invstOrSec>
        <name>Chicago Board Options Exchange Inc.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>Chicago Board Options Exchange Inc.</title>
        <cusip>12503M108</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="12503M108"/>
          <other otherDesc="Primary Identifier" value="12503M108"/>
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        <balance>29173.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3500760.00000000</valUSD>
        <pctVal>0.639630748900</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>
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      <invstOrSec>
        <name>MarketAxess Holdings Inc.</name>
        <lei>5493002U1CA1XJOVID83</lei>
        <title>MarketAxess Holdings Inc.</title>
        <cusip>57060D108</cusip>
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          <other otherDesc="Primary Identifier" value="57060D108"/>
          <other otherDesc="Primary Identifier" value="57060D108"/>
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        <balance>36516.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13843580.76000000</valUSD>
        <pctVal>2.529387884053</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>
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      <invstOrSec>
        <name>Seattle Genetics Inc.</name>
        <lei>N/A</lei>
        <title>Seattle Genetics Inc.</title>
        <cusip>812578102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="812578102"/>
          <other otherDesc="Primary Identifier" value="812578102"/>
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        <balance>77531.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8858692.06000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nordstrom Inc.</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>Nordstrom Inc.</title>
        <cusip>655664100</cusip>
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        <balance>91618.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3749924.74000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>A. O. Smith Corp.</name>
        <lei>549300XG4US7UJNECY36</lei>
        <title>A. O. Smith Corp.</title>
        <cusip>831865209</cusip>
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        <curCd>USD</curCd>
        <valUSD>8571102.96000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Grubhub Inc.</name>
        <lei>529900CR2K1AJ5W4RR39</lei>
        <title>Grubhub Inc.</title>
        <cusip>400110102</cusip>
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        <balance>107342.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5221114.88000000</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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          <isLoanByFund>N</isLoanByFund>
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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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        <curCd>USD</curCd>
        <valUSD>9469631.85000000</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>Tractor Supply Co.</name>
        <lei>549300OJ9VZHZRO6I137</lei>
        <title>Tractor Supply Co.</title>
        <cusip>892356106</cusip>
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          <other otherDesc="Primary Identifier" value="892356106"/>
          <other otherDesc="Primary Identifier" value="892356106"/>
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        <balance>138083.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12902475.52000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ulta Beauty Inc.</name>
        <lei>529900CIV6HN8M28YM82</lei>
        <title>Ulta Beauty Inc.</title>
        <cusip>90384S303</cusip>
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          <other otherDesc="Primary Identifier" value="90384S303"/>
          <other otherDesc="Primary Identifier" value="90384S303"/>
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        <balance>35234.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8919134.76000000</valUSD>
        <pctVal>1.629632664359</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>Advanced Micro Devices Inc.</name>
        <lei>R2I72C950HOYXII45366</lei>
        <title>Advanced Micro Devices Inc.</title>
        <cusip>007903107</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="007903107"/>
          <other otherDesc="Primary Identifier" value="007903107"/>
        </identifiers>
        <balance>213472.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9789825.92000000</valUSD>
        <pctVal>1.788718359674</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>ServiceNow Inc.</name>
        <lei>549300HJTQM36M0E1G39</lei>
        <title>ServiceNow Inc.</title>
        <cusip>81762P102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="81762P102"/>
          <other otherDesc="Primary Identifier" value="81762P102"/>
        </identifiers>
        <balance>22167.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6258187.44000000</valUSD>
        <pctVal>1.143445742926</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>VeriSign Inc.</name>
        <lei>LMPL4N8ZOJRMF0KOF759</lei>
        <title>VeriSign Inc.</title>
        <cusip>92343E102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="92343E102"/>
          <other otherDesc="Primary Identifier" value="92343E102"/>
        </identifiers>
        <balance>9042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1742212.56000000</valUSD>
        <pctVal>0.318323085414</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>L3Harris Technologies Inc.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3Harris Technologies Inc.</title>
        <cusip>502431109</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="502431109"/>
          <other otherDesc="Primary Identifier" value="502431109"/>
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        <balance>42656.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8440342.72000000</valUSD>
        <pctVal>1.542151628494</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>
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      </invstOrSec>
      <invstOrSec>
        <name>SVB Financial Group</name>
        <lei>549300D2KJ20JMXE7542</lei>
        <title>SVB Financial Group</title>
        <cusip>78486Q101</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="78486Q101"/>
          <other otherDesc="Primary Identifier" value="78486Q101"/>
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        <balance>29796.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7479987.84000000</valUSD>
        <pctVal>1.366683298445</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>
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      </invstOrSec>
      <invstOrSec>
        <name>State Street Institutional U.S. Government Money Market Fund - Premier Class</name>
        <lei>N/A</lei>
        <title>State Street Institutional U.S. Government Money Market Fund - Premier Class</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="857492706"/>
          <other otherDesc="Primary Identifier" value="857492706"/>
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        <balance>26803256.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26803256.74000000</valUSD>
        <pctVal>4.897275786278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DexCom Inc.</name>
        <lei>549300YSK3QDSFR5EU59</lei>
        <title>DexCom Inc.</title>
        <cusip>252131107</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="252131107"/>
          <other otherDesc="Primary Identifier" value="252131107"/>
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        <balance>51958.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11365292.92000000</valUSD>
        <pctVal>2.076575035675</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Cerner Corp.</name>
        <lei>549300L4UJ40IEVVI304</lei>
        <title>Cerner Corp.</title>
        <cusip>156782104</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="156782104"/>
          <other otherDesc="Primary Identifier" value="156782104"/>
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        <balance>147666.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10837207.74000000</valUSD>
        <pctVal>1.980087553195</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>
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      </invstOrSec>
      <invstOrSec>
        <name>MercadoLibre Inc.</name>
        <lei>549300DKPDN9M5S8GB14</lei>
        <title>MercadoLibre Inc.</title>
        <cusip>58733R102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="58733R102"/>
          <other otherDesc="Primary Identifier" value="58733R102"/>
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        <balance>15437.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8829037.78000000</valUSD>
        <pctVal>1.613170867837</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>CoStar Group Inc.</name>
        <lei>N/A</lei>
        <title>CoStar Group Inc.</title>
        <cusip>22160N109</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="22160N109"/>
          <other otherDesc="Primary Identifier" value="22160N109"/>
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        <balance>31508.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18851236.40000000</valUSD>
        <pctVal>3.444346500825</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Twilio Inc. Class A</name>
        <lei>5493004W8TRGD63APX93</lei>
        <title>Twilio Inc. Class A</title>
        <cusip>90138F102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="90138F102"/>
          <other otherDesc="Primary Identifier" value="90138F102"/>
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        <balance>58622.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5761370.16000000</valUSD>
        <pctVal>1.052671279988</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Square Inc. Class A</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Square Inc. Class A</title>
        <cusip>852234103</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="852234103"/>
          <other otherDesc="Primary Identifier" value="852234103"/>
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        <balance>154292.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9652507.52000000</valUSD>
        <pctVal>1.763628644575</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Trex Co. Inc.</name>
        <lei>N/A</lei>
        <title>Trex Co. Inc.</title>
        <cusip>89531P105</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="89531P105"/>
          <other otherDesc="Primary Identifier" value="89531P105"/>
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        <balance>82502.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7415279.76000000</valUSD>
        <pctVal>1.354860357806</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Hershey Foods Corp.</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Foods Corp.</title>
        <cusip>427866108</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="427866108"/>
          <other otherDesc="Primary Identifier" value="427866108"/>
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        <balance>54779.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8051417.42000000</valUSD>
        <pctVal>1.471090321548</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>
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      <invstOrSec>
        <name>National Vision Holdings Inc.</name>
        <lei>549300JHURCBLI5ROA42</lei>
        <title>National Vision Holdings Inc.</title>
        <cusip>63845R107</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="63845R107"/>
          <other otherDesc="Primary Identifier" value="63845R107"/>
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        <balance>156978.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5090796.54000000</valUSD>
        <pctVal>0.930149454226</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>
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      <invstOrSec>
        <name>Burberry Group plc</name>
        <lei>213800PE1KEFCNFR1R50</lei>
        <title>Burberry Group plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="3174300"/>
          <other otherDesc="Primary Identifier" value="3174300"/>
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        <balance>223692.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75494000"/>
        <valUSD>6533510.74000000</valUSD>
        <pctVal>1.193750604889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Agilent Technologies Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies Inc.</title>
        <cusip>00846U101</cusip>
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          <other otherDesc="Primary Identifier" value="00846U101"/>
          <other otherDesc="Primary Identifier" value="00846U101"/>
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        <balance>79656.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6795453.36000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Axalta Coating Systems Ltd.</name>
        <lei>529900AGLPA40GV6H619</lei>
        <title>Axalta Coating Systems Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="G0750C108"/>
          <other otherDesc="Primary Identifier" value="G0750C108"/>
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        <balance>295005.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8968152.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dunkin Brands Group Inc.</name>
        <lei>549300311IRV47UCTO62</lei>
        <title>Dunkin Brands Group Inc.</title>
        <cusip>265504100</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="265504100"/>
          <other otherDesc="Primary Identifier" value="265504100"/>
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        <balance>113857.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8600757.78000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Coherent Inc.</name>
        <lei>549300RYOCKUMWACR010</lei>
        <title>Coherent Inc.</title>
        <cusip>192479103</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="192479103"/>
          <other otherDesc="Primary Identifier" value="192479103"/>
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        <balance>33074.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5501859.90000000</valUSD>
        <pctVal>1.005255649682</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>
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      <invstOrSec>
        <name>BorgWarner Inc.</name>
        <lei>549300DSFX2IE88NSX47</lei>
        <title>BorgWarner Inc.</title>
        <cusip>099724106</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="099724106"/>
          <other otherDesc="Primary Identifier" value="099724106"/>
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        <balance>214048.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9285402.24000000</valUSD>
        <pctVal>1.696554116423</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>
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      </invstOrSec>
      <invstOrSec>
        <name>10x Genomics Inc. Class A</name>
        <lei>5493003Z6741WNLG7H43</lei>
        <title>10x Genomics Inc. Class A</title>
        <cusip>88025U109</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="88025U109"/>
          <other otherDesc="Primary Identifier" value="88025U109"/>
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        <balance>9369.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>714386.25000000</valUSD>
        <pctVal>0.130526917609</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>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc.</title>
        <cusip>98978V103</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="98978V103"/>
          <other otherDesc="Primary Identifier" value="98978V103"/>
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        <balance>57789.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7648374.15000000</valUSD>
        <pctVal>1.397449492519</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>II-VI Inc.</name>
        <lei>549300O5C25A0MMHHU33</lei>
        <title>II-VI Inc.</title>
        <cusip>902104108</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="902104108"/>
          <other otherDesc="Primary Identifier" value="902104108"/>
        </identifiers>
        <balance>22401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>754241.67000000</valUSD>
        <pctVal>0.137808979831</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>Laboratory Corp. of America Holdings</name>
        <lei>OZ7UA8IXAIFILY2VZH07</lei>
        <title>Laboratory Corp. of America Holdings</title>
        <cusip>50540R409</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="50540R409"/>
          <other otherDesc="Primary Identifier" value="50540R409"/>
        </identifiers>
        <balance>42615.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7209179.55000000</valUSD>
        <pctVal>1.317203382843</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>First Republic Bank</name>
        <lei>YWC0TIKBQM2JV8L4IV08</lei>
        <title>First Republic Bank</title>
        <cusip>33616C100</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="33616C100"/>
          <other otherDesc="Primary Identifier" value="33616C100"/>
        </identifiers>
        <balance>86249.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10129945.05000000</valUSD>
        <pctVal>1.850862195251</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>Chipotle Mexican Grill Inc. Class A</name>
        <lei>N/A</lei>
        <title>Chipotle Mexican Grill Inc. Class A</title>
        <cusip>169656105</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="169656105"/>
          <other otherDesc="Primary Identifier" value="169656105"/>
        </identifiers>
        <balance>18277.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15299859.47000000</valUSD>
        <pctVal>2.795467433033</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>Middleby Corp.</name>
        <lei>JDFO86U9VQRBKW5KYA35</lei>
        <title>Middleby Corp.</title>
        <cusip>596278101</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="596278101"/>
          <other otherDesc="Primary Identifier" value="596278101"/>
        </identifiers>
        <balance>82498.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9035180.96000000</valUSD>
        <pctVal>1.650835693933</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>O'Reilly Automotive Inc.</name>
        <lei>549300K2RLMQL149Q332</lei>
        <title>O'Reilly Automotive Inc.</title>
        <cusip>67103H107</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="67103H107"/>
          <other otherDesc="Primary Identifier" value="67103H107"/>
        </identifiers>
        <balance>16383.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7180013.58000000</valUSD>
        <pctVal>1.311874411067</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>Electronic Arts Inc.</name>
        <lei>549300O7A67PUEYKDL45</lei>
        <title>Electronic Arts Inc.</title>
        <cusip>285512109</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="285512109"/>
          <other otherDesc="Primary Identifier" value="285512109"/>
        </identifiers>
        <balance>152858.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16433763.58000000</valUSD>
        <pctVal>3.002645284431</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>Universal Display Corp.</name>
        <lei>N/A</lei>
        <title>Universal Display Corp.</title>
        <cusip>91347P105</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="91347P105"/>
          <other otherDesc="Primary Identifier" value="91347P105"/>
        </identifiers>
        <balance>36571.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7536185.97000000</valUSD>
        <pctVal>1.376951369372</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>Fastenal Co.</name>
        <lei>529900PP0C7H2HHPSJ32</lei>
        <title>Fastenal Co.</title>
        <cusip>311900104</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="311900104"/>
          <other otherDesc="Primary Identifier" value="311900104"/>
        </identifiers>
        <balance>334504.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12359922.80000000</valUSD>
        <pctVal>2.258305818426</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>Edwards Lifesciences Corp.</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp.</title>
        <cusip>28176E108</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="28176E108"/>
          <other otherDesc="Primary Identifier" value="28176E108"/>
        </identifiers>
        <balance>46809.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10920071.61000000</valUSD>
        <pctVal>1.995227773954</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>lululemon athletica Inc.</name>
        <lei>549300D9GZ4BMLDW5T40</lei>
        <title>lululemon athletica Inc.</title>
        <cusip>550021109</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="550021109"/>
          <other otherDesc="Primary Identifier" value="550021109"/>
        </identifiers>
        <balance>34153.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7912225.51000000</valUSD>
        <pctVal>1.445658293750</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>Glaukos Corp.</name>
        <lei>5299004JA1LHE21M6T14</lei>
        <title>Glaukos Corp.</title>
        <cusip>377322102</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="377322102"/>
          <other otherDesc="Primary Identifier" value="377322102"/>
        </identifiers>
        <balance>86333.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4702558.51000000</valUSD>
        <pctVal>0.859213719734</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>Palo Alto Networks Inc.</name>
        <lei>549300QXR2YVZV231H43</lei>
        <title>Palo Alto Networks Inc.</title>
        <cusip>697435105</cusip>
        <identifiers>
          <other otherDesc="Primary Identifier" value="697435105"/>
          <other otherDesc="Primary Identifier" value="697435105"/>
        </identifiers>
        <balance>35499.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8209143.75000000</valUSD>
        <pctVal>1.499908809699</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>2020-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Ivy Variable Insurance Portfolios</ncom:nameOfApplicant>
      <ncom:signature>Joseph W. Kauten</ncom:signature>
      <ncom:signerName>Joseph W. Kauten</ncom:signerName>
      <ncom:title>Treasurer, Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
