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      <invstOrSec>
        <name>Credo Technology Group Holding Ltd.</name>
        <lei>N/A</lei>
        <title>Credo Technology Group Holding Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="KYG254571055"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Xylem, Inc.</name>
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          <isin value="US98419M1009"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>nVent Electric plc</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="IE00BDVJJQ56"/>
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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>Lattice Semiconductor Corp.</name>
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        <title>Lattice Semiconductor Corp.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NVR, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cerebras Systems, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Curtiss-Wright Corp.</name>
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        <title>Curtiss-Wright Corp.</title>
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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>TechnipFMC plc</name>
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          <isin value="GB00BDSFG982"/>
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        <balance>40004.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Benchling, Inc.</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arteris, Inc.</name>
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        <title>Arteris, Inc.</title>
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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>Repligen Corp.</name>
        <lei>54930006QJ0T5AUO1E71</lei>
        <title>Repligen Corp.</title>
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          <isin value="US7599161095"/>
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        <balance>33287.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Insmed, Inc.</name>
        <lei>529900Q55QAG41CCAC11</lei>
        <title>Insmed, Inc.</title>
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        <balance>29589.00000000</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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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc., Class A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Snowflake, Inc.</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>Snowflake, Inc., Class A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DoorDash, Inc.</name>
        <lei>549300NUQ43FGGSK5051</lei>
        <title>DoorDash, Inc., Class A</title>
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        <invCountry>US</invCountry>
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        <name>Fair Isaac Corp.</name>
        <lei>RI6HET5SJUEY30V1PS26</lei>
        <title>Fair Isaac Corp.</title>
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        <name>Cheniere Energy, Inc.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy, Inc.</title>
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        <name>Ascendis Pharma A/S</name>
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        <title>Ascendis Pharma A/S</title>
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        <name>Revolution Medicines, Inc.</name>
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        <title>Revolution Medicines, Inc.</title>
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        <name>Lumentum Holdings, Inc.</name>
        <lei>549300JLWRRC38DWEF52</lei>
        <title>Lumentum Holdings, Inc.</title>
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        <name>Simon Property Group, Inc.</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>Simon Property Group, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Teradyne, Inc.</name>
        <lei>C3X4YJ278QNZHRJULN75</lei>
        <title>Teradyne, Inc.</title>
        <cusip>880770102</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Blaize Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Blaize Holdings, Inc.</title>
        <cusip>N/A</cusip>
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        <balance>10198.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Jones Lang LaSalle, Inc.</name>
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        <title>Jones Lang LaSalle, Inc.</title>
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          <isin value="US48020Q1076"/>
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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>Carvana Co.</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>Carvana Co., Class A</title>
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          <isin value="US1468691027"/>
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        <curCd>USD</curCd>
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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>Vertiv Holdings Co.</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>Vertiv Holdings Co., Class A</title>
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          <isin value="US92537N1081"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROBLOX Corp.</name>
        <lei>529900ANZDBDFU91SO19</lei>
        <title>ROBLOX Corp., Class A</title>
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          <isin value="US7710491033"/>
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        <curCd>USD</curCd>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Performance Food Group Co.</name>
        <lei>549300EUK8GR9IT1YK57</lei>
        <title>Performance Food Group Co.</title>
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          <isin value="US71377A1034"/>
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        <balance>25767.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2880492.93000000</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>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="LR0008862868"/>
          <other otherDesc="Inhouse Asset ID" value="62906"/>
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        <balance>29408.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</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>Natera, Inc.</name>
        <lei>529900CQ3OZ0A0VYVU59</lei>
        <title>Natera, Inc.</title>
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          <isin value="US6323071042"/>
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        <balance>37010.00000000</balance>
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        <curCd>USD</curCd>
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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>Axon Enterprise, Inc.</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>Axon Enterprise, Inc.</title>
        <cusip>05464C101</cusip>
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          <isin value="US05464C1018"/>
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        <balance>19316.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10828742.76000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Innio NV</name>
        <lei>2549000WCDQX6ZM7AW92</lei>
        <title>Innio NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL00150745D9"/>
          <other otherDesc="Inhouse Asset ID" value="1621320"/>
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        <balance>8144.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>322095.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AAON, Inc.</name>
        <lei>N/A</lei>
        <title>AAON, Inc.</title>
        <cusip>000360206</cusip>
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          <isin value="US0003602069"/>
          <other otherDesc="Inhouse Asset ID" value="233781"/>
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        <balance>56561.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7175328.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <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>Nasdaq, Inc.</name>
        <lei>549300L8X1Q78ERXFD06</lei>
        <title>Nasdaq, Inc.</title>
        <cusip>631103108</cusip>
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          <isin value="US6311031081"/>
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        <balance>45531.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3588753.42000000</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>
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      <invstOrSec>
        <name>AutoZone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AutoZone, Inc.</title>
        <cusip>053332102</cusip>
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          <isin value="US0533321024"/>
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        <balance>1712.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5471449.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment, Inc.</title>
        <cusip>538034109</cusip>
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          <isin value="US5380341090"/>
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        <balance>28574.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5232185.14000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Datadog, Inc.</name>
        <lei>549300F6JNO0KRPO1K63</lei>
        <title>Datadog, Inc., Class A</title>
        <cusip>23804L103</cusip>
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          <isin value="US23804L1035"/>
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        <balance>58132.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15135247.52000000</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>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
        <cusip>05605H100</cusip>
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          <isin value="US05605H1005"/>
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        <balance>31793.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6188507.45000000</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>CG oncology, Inc.</name>
        <lei>N/A</lei>
        <title>CG oncology, Inc.</title>
        <cusip>156944100</cusip>
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          <isin value="US1569441009"/>
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        <balance>22492.00000000</balance>
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        <valUSD>1598056.60000000</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>Cava Group, Inc.</name>
        <lei>N/A</lei>
        <title>Cava Group, Inc.</title>
        <cusip>148929102</cusip>
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        <balance>51755.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alnylam Pharmaceuticals, Inc.</name>
        <lei>529900S3ZI14OWRJII50</lei>
        <title>Alnylam Pharmaceuticals, Inc.</title>
        <cusip>02043Q107</cusip>
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          <isin value="US02043Q1076"/>
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        <balance>17777.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Quantinuum, Inc.</name>
        <lei>529900XVZ9SO3PH40230</lei>
        <title>Quantinuum, Inc., Class A</title>
        <cusip>74768A104</cusip>
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          <isin value="US74768A1043"/>
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        <valUSD>471966.76000000</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>Procore Technologies, Inc.</name>
        <lei>5493005PTWY0RHYRAH22</lei>
        <title>Procore Technologies, Inc.</title>
        <cusip>74275K108</cusip>
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          <isin value="US74275K1088"/>
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        <balance>62087.00000000</balance>
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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>Dpc Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>Dpc Holdings Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="JE00BPK4NV88"/>
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        <balance>18000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>883080.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dexcom, Inc.</name>
        <lei>549300YSK3QDSFR5EU59</lei>
        <title>Dexcom, Inc.</title>
        <cusip>252131107</cusip>
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        <balance>118924.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8009531.40000000</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>Blaize Events &amp; Media, Inc.</name>
        <lei>N/A</lei>
        <title>Blaize Events &amp; Media, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1429226"/>
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        <balance>10257.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.01000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Fifth Third Bancorp</name>
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        <title>Fifth Third Bancorp</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Casey's General Stores, Inc.</name>
        <lei>549300CAFWSI86V66Q65</lei>
        <title>Casey's General Stores, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Arxis, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Manhattan Associates, Inc.</name>
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        <title>Manhattan Associates, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>OneTrust LLC</name>
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      <invstOrSec>
        <name>Plaid, Inc.</name>
        <lei>N/A</lei>
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        <invCountry>JP</invCountry>
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        <name>Wingstop, Inc.</name>
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        <title>Wingstop, Inc.</title>
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        <name>Everpure, Inc.</name>
        <lei>549300NPDB0BZTK3WO90</lei>
        <title>Everpure, Inc., Class A</title>
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          <isin value="US74624M1027"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vistra Corp.</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>Vistra Corp.</title>
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          <isin value="US92840M1027"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Anduril Industries, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc., Class A</title>
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          <isin value="US92345Y1064"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IDEXX Laboratories, Inc.</name>
        <lei>OGMTXK0LUU1HKV2P0J84</lei>
        <title>IDEXX Laboratories, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Guidewire Software, Inc.</name>
        <lei>549300WXSG0J8IXZCK32</lei>
        <title>Guidewire Software, Inc.</title>
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          <isin value="US40171V1008"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MACOM Technology Solutions Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>MACOM Technology Solutions Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Franklin Institutional U.S. Government Money Market Fund</name>
        <lei>549300M4TP89K77LG374</lei>
        <title>Franklin Institutional U.S. Government Money Market Fund</title>
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          <isin value="US4577565009"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <name>Onto Innovation, Inc.</name>
        <lei>254900RXZVN73CHOO062</lei>
        <title>Onto Innovation, Inc.</title>
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        <name>Forgent Power Solutions, Inc.</name>
        <lei>529900VOEJB5GLOFQR48</lei>
        <title>Forgent Power Solutions, Inc., Class A</title>
        <cusip>34631F102</cusip>
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        <name>Bridgebio Pharma, Inc.</name>
        <lei>54930028YG89VTY2J114</lei>
        <title>Bridgebio Pharma, Inc.</title>
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        <name>Databricks, Inc.</name>
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        <name>Rocket Lab Corp.</name>
        <lei>254900LNRW7906KUMM93</lei>
        <title>Rocket Lab Corp.</title>
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        <name>Comfort Systems USA, Inc.</name>
        <lei>5299009DT1ZA5HTU6R38</lei>
        <title>Comfort Systems USA, Inc.</title>
        <cusip>199908104</cusip>
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        <name>Ares Management Corp.</name>
        <lei>529900JUV61FH7B8VW38</lei>
        <title>Ares Management Corp., Class A</title>
        <cusip>03990B101</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Newsela, Inc.</name>
        <lei>N/A</lei>
        <title>Newsela, Inc., Series D</title>
        <cusip>N/A</cusip>
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        <balance>48915.00000000</balance>
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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>Old Dominion Freight Line, Inc.</name>
        <lei>5299009TWK32WE417T96</lei>
        <title>Old Dominion Freight Line, Inc.</title>
        <cusip>679580100</cusip>
        <identifiers>
          <isin value="US6795801009"/>
          <other otherDesc="Inhouse Asset ID" value="40899"/>
        </identifiers>
        <balance>23944.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5186270.40000000</valUSD>
        <pctVal>1.226230562110</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>Tradeweb Markets, Inc.</name>
        <lei>N/A</lei>
        <title>Tradeweb Markets, Inc., Class A</title>
        <cusip>892672106</cusip>
        <identifiers>
          <isin value="US8926721064"/>
          <other otherDesc="Inhouse Asset ID" value="972197"/>
        </identifiers>
        <balance>28253.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2815693.98000000</valUSD>
        <pctVal>0.665736597888</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>United Rentals, Inc.</name>
        <lei>5323X5O7RN0NKFCDRY08</lei>
        <title>United Rentals, Inc.</title>
        <cusip>911363109</cusip>
        <identifiers>
          <isin value="US9113631090"/>
          <other otherDesc="Inhouse Asset ID" value="55939"/>
        </identifiers>
        <balance>5339.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6048499.71000000</valUSD>
        <pctVal>1.430094196268</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>Tractor Supply Co.</name>
        <lei>549300OJ9VZHZRO6I137</lei>
        <title>Tractor Supply Co.</title>
        <cusip>892356106</cusip>
        <identifiers>
          <isin value="US8923561067"/>
          <other otherDesc="Inhouse Asset ID" value="51994"/>
        </identifiers>
        <balance>109529.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3462211.69000000</valUSD>
        <pctVal>0.818597847650</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>Tyler Technologies, Inc.</name>
        <lei>25490040SMU4Z8LBCW70</lei>
        <title>Tyler Technologies, Inc.</title>
        <cusip>902252105</cusip>
        <identifiers>
          <isin value="US9022521051"/>
          <other otherDesc="Inhouse Asset ID" value="238040"/>
        </identifiers>
        <balance>11119.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3251862.74000000</valUSD>
        <pctVal>0.768863396628</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>Franklin Institutional U.S. Government Money Market Fund</name>
        <lei>549300M4TP89K77LG374</lei>
        <title>Franklin Institutional U.S. Government Money Market Fund</title>
        <cusip>457756500</cusip>
        <identifiers>
          <isin value="US4577565009"/>
          <other otherDesc="Inhouse Asset ID" value="170875"/>
        </identifiers>
        <balance>19541293.55100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19541293.55000000</valUSD>
        <pctVal>4.620301204152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Roadhouse, Inc.</name>
        <lei>5299002Y1CNRPDGXTQ75</lei>
        <title>Texas Roadhouse, Inc., Class A</title>
        <cusip>882681109</cusip>
        <identifiers>
          <isin value="US8826811098"/>
          <other otherDesc="Inhouse Asset ID" value="316172"/>
        </identifiers>
        <balance>23620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4564092.60000000</valUSD>
        <pctVal>1.079124188052</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>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>Targa Resources Corp.</title>
        <cusip>87612G101</cusip>
        <identifiers>
          <isin value="US87612G1013"/>
          <other otherDesc="Inhouse Asset ID" value="482900"/>
        </identifiers>
        <balance>39891.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10696372.74000000</valUSD>
        <pctVal>2.529027248080</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>
          <isin value="US3119001044"/>
          <other otherDesc="Inhouse Asset ID" value="204754"/>
        </identifiers>
        <balance>46676.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2241848.28000000</valUSD>
        <pctVal>0.530057761074</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>New York Times Co. (The)</name>
        <lei>529900J1WEMMIW7BOH57</lei>
        <title>New York Times Co. (The), Class A</title>
        <cusip>650111107</cusip>
        <identifiers>
          <isin value="US6501111073"/>
          <other otherDesc="Inhouse Asset ID" value="63884"/>
        </identifiers>
        <balance>67426.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4718471.48000000</valUSD>
        <pctVal>1.115625196715</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>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
        <cusip>03073E105</cusip>
        <identifiers>
          <isin value="US03073E1055"/>
          <other otherDesc="Inhouse Asset ID" value="216554"/>
        </identifiers>
        <balance>25975.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7350405.50000000</valUSD>
        <pctVal>1.737913986899</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>Reddit, Inc.</name>
        <lei>529900APN1YHPBHPI679</lei>
        <title>Reddit, Inc., Class A</title>
        <cusip>75734B100</cusip>
        <identifiers>
          <isin value="US75734B1008"/>
          <other otherDesc="Inhouse Asset ID" value="1339590"/>
        </identifiers>
        <balance>27174.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4716862.92000000</valUSD>
        <pctVal>1.115244872266</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>Blaize Events &amp; Media, Inc.</name>
        <lei>N/A</lei>
        <title>Blaize Events &amp; Media, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1429224"/>
        </identifiers>
        <balance>10223.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.01000000</valUSD>
        <pctVal>0.000000002364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Burlington Stores, Inc.</name>
        <lei>5299003Z37DVGKKC1W09</lei>
        <title>Burlington Stores, Inc.</title>
        <cusip>122017106</cusip>
        <identifiers>
          <isin value="US1220171060"/>
          <other otherDesc="Inhouse Asset ID" value="560877"/>
        </identifiers>
        <balance>16017.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5074185.60000000</valUSD>
        <pctVal>1.199729474294</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>Cloudflare, Inc.</name>
        <lei>5493007DY18BGNLDWU14</lei>
        <title>Cloudflare, Inc., Class A</title>
        <cusip>18915M107</cusip>
        <identifiers>
          <isin value="US18915M1071"/>
          <other otherDesc="Inhouse Asset ID" value="1008148"/>
        </identifiers>
        <balance>51906.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12731503.68000000</valUSD>
        <pctVal>3.010209208150</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>4286.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5924794.96000000</valUSD>
        <pctVal>1.400845712593</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>
    <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>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Templeton Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
