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      <regCik>0000872625</regCik>
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      <regStreet1>One Franklin Parkway</regStreet1>
      <regCity>San Mateo</regCity>
      <regStateConditional regCountry="US" regState="US-CA"/>
      <regZipOrPostalCode>94403-1906</regZipOrPostalCode>
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      <seriesName>Franklin Growth Opportunities Fund</seriesName>
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      <repPdEnd>2020-04-30</repPdEnd>
      <repPdDate>2020-04-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GitLab Inc PRF USD 1 SER E</name>
        <lei>N/A</lei>
        <title>GitLab Inc PRF USD 1 SER E</title>
        <cusip>000000000</cusip>
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        <balance>201294.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP COM USD0.01</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>CHARLES SCHWAB CORP COM USD0.01</title>
        <cusip>808513105</cusip>
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          <ticker value="SCHW"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PROTERRA INC PFD USD SERIES 6 *PHYSICAL CERTIFICATE* 144A</name>
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        <cusip>000000000</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>SALESFORCE.COM INC COM USD.001</name>
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          <ticker value="CRM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ClearMotion Inc PRF USD 0.01 SERIES C *PHYSIAL CERTIFICATE*</name>
        <lei>N/A</lei>
        <title>ClearMotion Inc PRF USD 0.01 SERIES C *PHYSIAL CERTIFICATE*</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Sec ID" value="817705"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>WORKDAY INC COM USD.001 CL A</name>
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          <ticker value="WDAY"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEVRO CORP COM USD.001</name>
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          <ticker value="NVRO"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC COM USD.001 CL C</name>
        <lei>5493006MHB84DD0ZWV18</lei>
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          <ticker value="GOOG"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walt Disney Co/The COM USD.01</name>
        <lei>549300GZKULIZ0WOW665</lei>
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        <cusip>254687106</cusip>
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          <ticker value="DIS"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hashicorp Inc PRF USD 1 SER E *PHYS CERT* *REST SHS* *6 MOS LOCKUP*</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>COSTAR GROUP INC COM USD.01</name>
        <lei>N/A</lei>
        <title>COSTAR GROUP INC COM USD.01</title>
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          <ticker value="CSGP"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Guardant Health Inc COM USD 0.00001</name>
        <lei>N/A</lei>
        <title>Guardant Health Inc COM USD 0.00001</title>
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          <ticker value="GH"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ASTRAZENECA PLC SPONSORED ADR</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC SPONSORED ADR</title>
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          <ticker value="AZN"/>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CONFLUENT INC PRF USD NPV *SERIES E*</name>
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        <name>Okta Inc COM USD NPV CL A</name>
        <lei>549300N8J06I8MRHU620</lei>
        <title>Okta Inc COM USD NPV CL A</title>
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          <ticker value="OKTA"/>
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        <fairValLevel>1</fairValLevel>
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        <name>DocuSign Inc COM USD 0.0001</name>
        <lei>549300Q7PVDWRZ39JG09</lei>
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        <name>Bill.com Holdings Inc COM USD 0.000010</name>
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        <name>PROTERRA INC PFD USD SERIES 5 *PHYS CERTS 144A EXP 09/16/17*</name>
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        <name>AUTODESK INC COM USD.01</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
        <title>AUTODESK INC COM USD.01</title>
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        <name>SWEETGREEN INC PRF USD NPV SERIES H</name>
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        <name>XILINX INC COM USD0.01</name>
        <lei>6EY4K7ZMF9UX1CU6KC79</lei>
        <title>XILINX INC COM USD0.01</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PROTERRA INC PFD USD SERIES 7 FINANCING</name>
        <lei>549300KN6Y54A0I8GX14</lei>
        <title>PROTERRA INC PFD USD SERIES 7 FINANCING</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>DANAHER CORP COM USD.01</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>DANAHER CORP COM USD.01</title>
        <cusip>235851102</cusip>
        <identifiers>
          <ticker value="DHR"/>
          <other otherDesc="Internal Identifier" value="29654"/>
        </identifiers>
        <balance>177119.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28951871.74000000</valUSD>
        <pctVal>0.725631367769</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>HERON THERAPEUTICS INC COM USD.01</name>
        <lei>549300DR2I1DOPD2IX53</lei>
        <title>HERON THERAPEUTICS INC COM USD.01</title>
        <cusip>427746102</cusip>
        <identifiers>
          <ticker value="HRTX"/>
          <other otherDesc="Internal Identifier" value="222805"/>
        </identifiers>
        <balance>2500782.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35661151.32000000</valUSD>
        <pctVal>0.893788499788</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>NOMAD FOODS LTD ORD USD NPV</name>
        <lei>5493000ZZ1837DS2SI43</lei>
        <title>NOMAD FOODS LTD ORD USD NPV</title>
        <cusip>G6564A105</cusip>
        <identifiers>
          <ticker value="NOMD"/>
          <other otherDesc="Internal Identifier" value="634292"/>
        </identifiers>
        <balance>959344.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19772079.84000000</valUSD>
        <pctVal>0.495554880416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wheels Up Partners LLC PFD USD CLASS D</name>
        <lei>N/A</lei>
        <title>Wheels Up Partners LLC PFD USD CLASS D</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="983702"/>
        </identifiers>
        <balance>5028735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17193219.82000000</valUSD>
        <pctVal>0.430919966984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IDEXX LABORATORIES INC COM USD.1</name>
        <lei>OGMTXK0LUU1HKV2P0J84</lei>
        <title>IDEXX LABORATORIES INC COM USD.1</title>
        <cusip>45168D104</cusip>
        <identifiers>
          <ticker value="IDXX"/>
          <other otherDesc="Internal Identifier" value="31843"/>
        </identifiers>
        <balance>104759.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29081098.40000000</valUSD>
        <pctVal>0.728870222890</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>LAMB WESTON HOLDINGS INC COM USD1</name>
        <lei>5493005SMYID1D2OY946</lei>
        <title>LAMB WESTON HOLDINGS INC COM USD1</title>
        <cusip>513272104</cusip>
        <identifiers>
          <ticker value="LW"/>
          <other otherDesc="Internal Identifier" value="652321"/>
        </identifiers>
        <balance>268081.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16449450.16000000</valUSD>
        <pctVal>0.412278595520</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>AMAZON.COM INC COM USD.01</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC COM USD.01</title>
        <cusip>023135106</cusip>
        <identifiers>
          <ticker value="AMZN"/>
          <other otherDesc="Internal Identifier" value="46337"/>
        </identifiers>
        <balance>150299.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>371839726.00000000</valUSD>
        <pctVal>9.319555274056</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>PTC INC COM USD.01</name>
        <lei>54930050SSMU8SKDJ030</lei>
        <title>PTC INC COM USD.01</title>
        <cusip>69370C100</cusip>
        <identifiers>
          <ticker value="PTC"/>
          <other otherDesc="Internal Identifier" value="30149"/>
        </identifiers>
        <balance>296019.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20499315.75000000</valUSD>
        <pctVal>0.513781860447</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>Proterra Inc PRF USD 1 SER 8</name>
        <lei>549300KN6Y54A0I8GX14</lei>
        <title>Proterra Inc PRF USD 1 SER 8</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="1000106"/>
        </identifiers>
        <balance>289016.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2413982.73000000</valUSD>
        <pctVal>0.060502533510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNION PACIFIC CORP COM USD2.5</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP COM USD2.5</title>
        <cusip>907818108</cusip>
        <identifiers>
          <ticker value="UNP"/>
          <other otherDesc="Internal Identifier" value="14100"/>
        </identifiers>
        <balance>167799.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26812602.21000000</valUSD>
        <pctVal>0.672014071829</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>ILLUMINA INC COM USD.01</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>ILLUMINA INC COM USD.01</title>
        <cusip>452327109</cusip>
        <identifiers>
          <ticker value="ILMN"/>
          <other otherDesc="Internal Identifier" value="191240"/>
        </identifiers>
        <balance>82019.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26166521.57000000</valUSD>
        <pctVal>0.655821116061</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>CLEARMOTION INC PRF USD 0.01 SER D</name>
        <lei>N/A</lei>
        <title>CLEARMOTION INC PRF USD 0.01 SER D</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="949551"/>
        </identifiers>
        <balance>3698772.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11397362.75000000</valUSD>
        <pctVal>0.285656277960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BILL.COM HOLDINGS INC COM USD NPV *LOCKUP EXP 06/08/2020*</name>
        <lei>549300IBF9VZZIGOZW63</lei>
        <title>BILL.COM HOLDINGS INC COM USD NPV *LOCKUP EXP 06/08/2020*</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="1029401"/>
        </identifiers>
        <balance>812499.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43653245.09000000</valUSD>
        <pctVal>1.094097273802</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>Black Knight Inc COM USD 0.0001</name>
        <lei>549300TUSNXS3BFFML48</lei>
        <title>Black Knight Inc COM USD 0.0001</title>
        <cusip>09215C105</cusip>
        <identifiers>
          <ticker value="BKI"/>
          <other otherDesc="Internal Identifier" value="815484"/>
        </identifiers>
        <balance>286192.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20196569.44000000</valUSD>
        <pctVal>0.506194018770</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>Zoom Video Communications Inc COM USD 0.0010 CL A</name>
        <lei>549300T9GCHU0ODOM055</lei>
        <title>Zoom Video Communications Inc COM USD 0.0010 CL A</title>
        <cusip>98980L101</cusip>
        <identifiers>
          <ticker value="ZM"/>
          <other otherDesc="Internal Identifier" value="977362"/>
        </identifiers>
        <balance>63704.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8610869.68000000</valUSD>
        <pctVal>0.215817381331</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>UNITEDHEALTH GROUP INC COM USD0.01</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC COM USD0.01</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <ticker value="UNH"/>
          <other otherDesc="Internal Identifier" value="12365"/>
        </identifiers>
        <balance>309579.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>90542570.13000000</valUSD>
        <pctVal>2.269301604911</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>INTUIT INC COM USD.01</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>INTUIT INC COM USD.01</title>
        <cusip>461202103</cusip>
        <identifiers>
          <ticker value="INTU"/>
          <other otherDesc="Internal Identifier" value="29934"/>
        </identifiers>
        <balance>73846.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19924389.26000000</valUSD>
        <pctVal>0.499372267207</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>MICROSOFT CORP COM USD0.001</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP COM USD0.001</title>
        <cusip>594918104</cusip>
        <identifiers>
          <ticker value="MSFT"/>
          <other otherDesc="Internal Identifier" value="853"/>
        </identifiers>
        <balance>1490069.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>267035265.49000000</valUSD>
        <pctVal>6.692802685790</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>Raytheon Technologies Corp COM USD1</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp COM USD1</title>
        <cusip>75513E101</cusip>
        <identifiers>
          <ticker value="RTX"/>
          <other otherDesc="Internal Identifier" value="4842"/>
        </identifiers>
        <balance>470770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30510603.70000000</valUSD>
        <pctVal>0.764698437915</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>SBA COMMUNICATIONS CORP REIT USD NPV CLASS A</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA COMMUNICATIONS CORP REIT USD NPV CLASS A</title>
        <cusip>78410G104</cusip>
        <identifiers>
          <ticker value="SBAC"/>
          <other otherDesc="Internal Identifier" value="657956"/>
        </identifiers>
        <balance>479438.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>138998664.96000000</valUSD>
        <pctVal>3.483774461244</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>HONEYWELL INTERNATIONAL INC COM USD1</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>HONEYWELL INTERNATIONAL INC COM USD1</title>
        <cusip>438516106</cusip>
        <identifiers>
          <ticker value="HON"/>
          <other otherDesc="Internal Identifier" value="14737"/>
        </identifiers>
        <balance>220100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31232190.00000000</valUSD>
        <pctVal>0.782783819700</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>SYNOPSYS INC COM USD.01</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>SYNOPSYS INC COM USD.01</title>
        <cusip>871607107</cusip>
        <identifiers>
          <ticker value="SNPS"/>
          <other otherDesc="Internal Identifier" value="30353"/>
        </identifiers>
        <balance>71815.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11283572.80000000</valUSD>
        <pctVal>0.282804318757</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>2020-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
