|
|
 |
|
Holdings of the Fund as of 9/12/2025
Total Number of Holdings (excluding cash): 204
| Karman Holdings Inc. |
KRMN |
485924104 |
7,649 |
$492,060.17 |
1.82% |
| Kratos Defense & Security Solutions, Inc. |
KTOS |
50077B207 |
6,393 |
$442,395.60 |
1.63% |
| Astera Labs, Inc. |
ALAB |
04626A103 |
1,624 |
$372,708.00 |
1.38% |
| Fabrinet |
FN |
G3323L100 |
1,037 |
$371,246.00 |
1.37% |
| Credo Technology Group Holding Ltd |
CRDO |
G25457105 |
2,244 |
$363,505.56 |
1.34% |
| AeroVironment, Inc. |
AVAV |
008073108 |
1,452 |
$352,836.00 |
1.30% |
| Boot Barn Holdings, Inc. |
BOOT |
099406100 |
1,914 |
$338,356.92 |
1.25% |
| Ollie's Bargain Outlet Holdings, Inc. |
OLLI |
681116109 |
2,510 |
$330,140.30 |
1.22% |
| iRhythm Technologies, Inc. |
IRTC |
450056106 |
1,745 |
$313,785.90 |
1.16% |
| Magnite, Inc. |
MGNI |
55955D100 |
11,477 |
$273,955.99 |
1.01% |
| Bloom Energy Corporation (Class A) |
BE |
093712107 |
3,951 |
$265,744.26 |
0.98% |
| Varonis Systems, Inc. |
VRNS |
922280102 |
4,726 |
$265,601.20 |
0.98% |
| TechnipFMC Plc |
FTI |
G87110105 |
6,548 |
$260,937.80 |
0.96% |
| Xometry, Inc. (Class A) |
XMTR |
98423F109 |
5,102 |
$259,997.92 |
0.96% |
| Installed Building Products, Inc. |
IBP |
45780R101 |
937 |
$251,078.52 |
0.93% |
| Sitime Corporation |
SITM |
82982T106 |
969 |
$251,940.00 |
0.93% |
| FirstCash Holdings, Inc. |
FCFS |
33768G107 |
1,679 |
$245,704.86 |
0.91% |
| MACOM Technology Solutions Holdings, Inc. |
MTSI |
55405Y100 |
1,836 |
$242,113.32 |
0.89% |
| Palomar Holdings, Inc. |
PLMR |
69753M105 |
2,068 |
$241,625.12 |
0.89% |
| EZCORP, Inc. |
EZPW |
302301106 |
13,939 |
$237,520.56 |
0.88% |
| VSE Corporation |
VSEC |
918284100 |
1,452 |
$238,868.52 |
0.88% |
| nLight, Inc. |
LASR |
65487K100 |
8,081 |
$231,682.27 |
0.86% |
| SiteOne Landscape Supply, Inc. |
SITE |
82982L103 |
1,663 |
$232,121.54 |
0.86% |
| Ligand Pharmaceuticals Inc. (Class B) |
LGND |
53220K504 |
1,389 |
$230,226.75 |
0.85% |
| Curtiss-Wright Corporation |
CW |
231561101 |
445 |
$226,500.55 |
0.84% |
| Lumentum Holdings Inc. |
LITE |
55024U109 |
1,389 |
$226,434.78 |
0.84% |
| Piper Sandler Companies |
PIPR |
724078100 |
657 |
$227,262.87 |
0.84% |
| Planet Labs PBC (Class A) |
PL |
72703X106 |
23,185 |
$226,749.30 |
0.84% |
| Sterling Infrastructure, Inc. |
STRL |
859241101 |
719 |
$225,446.06 |
0.83% |
| Halozyme Therapeutics, Inc. |
HALO |
40637H109 |
2,891 |
$222,317.90 |
0.82% |
| RBC Bearings Incorporated |
RBC |
75524B104 |
581 |
$217,933.10 |
0.81% |
| CyberArk Software Ltd. |
CYBR |
M2682V108 |
455 |
$212,166.50 |
0.78% |
| Crinetics Pharmaceuticals, Inc. |
CRNX |
22663K107 |
6,149 |
$209,066.00 |
0.77% |
| Powell Industries, Inc. |
POWL |
739128106 |
720 |
$207,129.60 |
0.77% |
| Rubrik, Inc. (Class A) |
RBRK |
781154109 |
2,657 |
$197,946.50 |
0.73% |
| InterDigital, Inc. |
IDCC |
45867G101 |
593 |
$191,461.91 |
0.71% |
| Commvault Systems, Inc. |
CVLT |
204166102 |
1,083 |
$190,564.68 |
0.70% |
| Guardant Health, Inc. |
GH |
40131M109 |
3,455 |
$189,662.23 |
0.70% |
| Leonardo DRS, Inc. |
DRS |
52661A108 |
4,482 |
$188,557.74 |
0.70% |
| Rhythm Pharmaceuticals, Inc. |
RYTM |
76243J105 |
1,979 |
$190,419.38 |
0.70% |
| Uranium Energy Corp |
UEC |
916896103 |
15,950 |
$189,326.50 |
0.70% |
| Wingstop Inc. |
WING |
974155103 |
707 |
$188,076.14 |
0.70% |
| Ciena Corporation |
CIEN |
171779309 |
1,389 |
$182,347.92 |
0.67% |
| Crane Company |
CR |
224408104 |
984 |
$180,062.16 |
0.67% |
| Encore Capital Group, Inc. |
ECPG |
292554102 |
4,078 |
$180,288.38 |
0.67% |
| Five Below, Inc. |
FIVE |
33829M101 |
1,288 |
$180,191.20 |
0.67% |
| Impinj, Inc. |
PI |
453204109 |
1,019 |
$182,156.44 |
0.67% |
| MAXIMUS, Inc. |
MMS |
577933104 |
2,020 |
$180,870.80 |
0.67% |
| Pan American Silver Corp. |
PAAS |
697900108 |
4,944 |
$181,345.92 |
0.67% |
| Axon Enterprise Inc. |
AXON |
05464C101 |
235 |
$177,690.55 |
0.66% |
| Guidewire Software, Inc. |
GWRE |
40171V100 |
694 |
$175,540.36 |
0.65% |
| FTAI Aviation Ltd. |
FTAI |
G3730V105 |
1,002 |
$172,003.32 |
0.64% |
| Academy Sports and Outdoors, Inc. |
ASO |
00402L107 |
3,611 |
$167,803.17 |
0.62% |
| Exelixis, Inc. |
EXEL |
30161Q104 |
4,306 |
$168,579.90 |
0.62% |
| The Descartes Systems Group Inc. |
DSGX |
249906108 |
1,616 |
$168,548.80 |
0.62% |
| BridgeBio Pharma, Inc. |
BBIO |
10806X102 |
3,230 |
$165,408.30 |
0.61% |
| Gulfport Energy Corporation |
GPOR |
402635502 |
948 |
$164,952.00 |
0.61% |
| Sportradar Group AG (Class A) |
SRAD |
H8088L103 |
5,482 |
$166,269.06 |
0.61% |
| Supernus Pharmaceuticals, Inc. |
SUPN |
868459108 |
3,611 |
$164,156.06 |
0.61% |
| BWX Technologies, Inc. |
BWXT |
05605H100 |
960 |
$161,596.80 |
0.60% |
| Construction Partners, Inc. (Class A) |
ROAD |
21044C107 |
1,304 |
$163,260.80 |
0.60% |
| Montrose Environmental Group, Inc. |
MEG |
615111101 |
5,480 |
$163,358.80 |
0.60% |
| Upstart Holdings, Inc. |
UPST |
91680M107 |
2,522 |
$159,087.76 |
0.59% |
| Solaris Energy Infrastructure, Inc. (Class A) |
SEI |
83418M103 |
5,064 |
$157,338.48 |
0.58% |
| Manhattan Associates, Inc. |
MANH |
562750109 |
707 |
$152,782.70 |
0.56% |
| Modine Manufacturing Company |
MOD |
607828100 |
1,004 |
$150,278.72 |
0.56% |
| Revolve Group, Inc. |
RVLV |
76156B107 |
6,730 |
$150,348.20 |
0.56% |
| Natera, Inc. |
NTRA |
632307104 |
889 |
$149,805.39 |
0.55% |
| Stride, Inc. |
LRN |
86333M108 |
948 |
$150,125.28 |
0.55% |
| HCI Group, Inc. |
HCI |
40416E103 |
804 |
$145,363.20 |
0.54% |
| ESCO Technologies Inc. |
ESE |
296315104 |
695 |
$144,754.60 |
0.53% |
| Bright Horizons Family Solutions Inc. |
BFAM |
109194100 |
1,250 |
$141,662.50 |
0.52% |
| Rambus Inc. |
RMBS |
750917106 |
1,604 |
$137,992.12 |
0.51% |
| Viper Energy, Inc. (Class A) |
VNOM |
64361Q101 |
3,586 |
$138,312.02 |
0.51% |
| Xenon Pharmaceuticals Inc. |
XENE |
98420N105 |
3,788 |
$137,163.48 |
0.51% |
| Ambarella, Inc. |
AMBA |
G037AX101 |
1,683 |
$135,262.71 |
0.50% |
| Genius Sports Limited |
GENI |
G3934V109 |
10,770 |
$134,409.60 |
0.50% |
| Medpace Holdings, Inc. |
MEDP |
58506Q109 |
278 |
$136,397.92 |
0.50% |
| Carvana Co. (Class A) |
CVNA |
146869102 |
368 |
$133,131.36 |
0.49% |
| Grand Canyon Education, Inc. |
LOPE |
38526M106 |
626 |
$131,247.16 |
0.49% |
| Rocket Lab Corporation |
RKLB |
773121108 |
2,504 |
$133,563.36 |
0.49% |
| Clearwater Analytics Holdings, Inc. (Class A) |
CWAN |
185123106 |
6,591 |
$129,249.51 |
0.48% |
| Paymentus Holdings, Inc. (Class A) |
PAY |
70439P108 |
3,999 |
$131,007.24 |
0.48% |
| Turning Point Brands, Inc. |
TPB |
90041L105 |
1,278 |
$130,790.52 |
0.48% |
| Balchem Corporation |
BCPC |
057665200 |
821 |
$128,355.14 |
0.47% |
| BioLife Solutions, Inc. |
BLFS |
09062W204 |
5,038 |
$128,519.38 |
0.47% |
| ICON Plc |
ICLR |
G4705A100 |
720 |
$126,000.00 |
0.47% |
| Magnolia Oil & Gas Corporation (Class A) |
MGY |
559663109 |
5,290 |
$125,902.00 |
0.47% |
| Merus NV |
MRUS |
N5749R100 |
1,832 |
$127,470.56 |
0.47% |
| Celestica Inc. |
CLS |
15101Q207 |
512 |
$123,786.24 |
0.46% |
| First Watch Restaurant Group, Inc. |
FWRG |
33748L101 |
7,336 |
$124,858.72 |
0.46% |
| HealthEquity, Inc. |
HQY |
42226A107 |
1,338 |
$123,751.62 |
0.46% |
| SPX Technologies |
SPXC |
78473E103 |
672 |
$125,207.04 |
0.46% |
| Cameco Corporation |
CCJ |
13321L108 |
1,567 |
$122,398.37 |
0.45% |
| Dutch Bros Inc. (Class A) |
BROS |
26701L100 |
1,896 |
$122,386.80 |
0.45% |
| Pure Storage, Inc. (Class A) |
PSTG |
74624M102 |
1,477 |
$121,557.10 |
0.45% |
| Repligen Corporation |
RGEN |
759916109 |
1,073 |
$121,828.42 |
0.45% |
| Virtu Financial, Inc. (Class A) |
VIRT |
928254101 |
3,359 |
$123,040.17 |
0.45% |
| BellRing Brands, Inc. |
BRBR |
07831C103 |
3,056 |
$116,341.92 |
0.43% |
| JBT Marel Corporation |
JBTM |
477839104 |
839 |
$115,320.55 |
0.43% |
| The Simply Good Foods Company |
SMPL |
82900L102 |
4,280 |
$116,159.20 |
0.43% |
| Adtalem Global Education Inc. |
ATGE |
00737L103 |
805 |
$110,534.55 |
0.41% |
| Agilysys, Inc. |
AGYS |
00847J105 |
1,035 |
$109,585.80 |
0.41% |
| AAON, Inc. |
AAON |
000360206 |
1,326 |
$108,970.68 |
0.40% |
| Federal Signal Corporation |
FSS |
313855108 |
866 |
$108,769.60 |
0.40% |
| Kinsale Capital Group, Inc. |
KNSL |
49714P108 |
253 |
$109,217.57 |
0.40% |
| Lindsay Corporation |
LNN |
535555106 |
770 |
$107,430.40 |
0.40% |
| Mirion Technologies, Inc. |
MIR |
60471A101 |
4,759 |
$108,172.07 |
0.40% |
| The Chefs' Warehouse, Inc. |
CHEF |
163086101 |
1,617 |
$106,996.89 |
0.40% |
| Weatherford International Plc |
WFRD |
G48833118 |
1,718 |
$107,031.40 |
0.40% |
| Zeta Global Holdings Corp. (Class A) |
ZETA |
98956A105 |
5,253 |
$106,898.55 |
0.40% |
| PTC Therapeutics, Inc. |
PTCT |
69366J200 |
1,717 |
$104,891.53 |
0.39% |
| Schrodinger, Inc. |
SDGR |
80810D103 |
5,656 |
$105,031.92 |
0.39% |
| TransMedics Group, Inc. |
TMDX |
89377M109 |
920 |
$105,399.84 |
0.39% |
| Life Time Group Holdings, Inc. |
LTH |
53190C102 |
3,602 |
$102,909.14 |
0.38% |
| Protagonist Therapeutics, Inc. |
PTGX |
74366E102 |
1,729 |
$101,768.94 |
0.38% |
| Gates Industrial Corporation Plc |
GTES |
G39108108 |
3,867 |
$99,072.54 |
0.37% |
| SentinelOne, Inc. (Class A) |
S |
81730H109 |
5,530 |
$101,143.70 |
0.37% |
| US Dollar |
$USD |
|
100,837 |
$100,836.53 |
0.37% |
| Arrowhead Pharmaceuticals, Inc. |
ARWR |
04280A100 |
3,322 |
$98,729.84 |
0.36% |
| Bio-Techne Corporation |
TECH |
09073M104 |
1,881 |
$96,420.06 |
0.36% |
| Kymera Therapeutics, Inc. |
KYMR |
501575104 |
2,062 |
$96,893.38 |
0.36% |
| Rush Street Interactive, Inc. |
RSI |
782011100 |
4,595 |
$97,230.20 |
0.36% |
| Trex Company, Inc. |
TREX |
89531P105 |
1,604 |
$96,961.80 |
0.36% |
| Apogee Therapeutics, Inc. |
APGE |
03770N101 |
2,604 |
$96,035.52 |
0.35% |
| Lattice Semiconductor Corporation |
LSCC |
518415104 |
1,452 |
$93,523.32 |
0.35% |
| LendingClub Corporation |
LC |
52603A208 |
5,726 |
$95,509.68 |
0.35% |
| Madrigal Pharmaceuticals, Inc. |
MDGL |
558868105 |
219 |
$94,656.18 |
0.35% |
| Silicon Laboratories Inc. |
SLAB |
826919102 |
707 |
$94,582.46 |
0.35% |
| Core Scientific, Inc. |
CORZ |
21874A106 |
5,728 |
$90,846.08 |
0.34% |
| Dave Inc. (Class A) |
DAVE |
23834J201 |
398 |
$91,309.16 |
0.34% |
| Globus Medical, Inc. (Class A) |
GMED |
379577208 |
1,553 |
$91,223.25 |
0.34% |
| Hub Group, Inc. |
HUBG |
443320106 |
2,588 |
$93,142.12 |
0.34% |
| SPS Commerce, Inc. |
SPSC |
78463M107 |
859 |
$90,650.27 |
0.34% |
| Visteon Corporation |
VC |
92839U206 |
747 |
$93,068.73 |
0.34% |
| Braze, Inc. (Class A) |
BRZE |
10576N102 |
2,980 |
$89,817.20 |
0.33% |
| Carpenter Technology Corporation |
CRS |
144285103 |
365 |
$87,618.25 |
0.32% |
| Cognex Corporation |
CGNX |
192422103 |
1,932 |
$85,761.48 |
0.32% |
| Meritage Homes Corporation |
MTH |
59001A102 |
1,085 |
$85,487.15 |
0.32% |
| MP Materials Corp. |
MP |
553368101 |
1,371 |
$87,072.21 |
0.32% |
| GeneDx Holdings Corp. |
WGS |
81663L200 |
675 |
$83,666.25 |
0.31% |
| Tenable Holdings, Inc. |
TENB |
88025T102 |
2,828 |
$84,557.20 |
0.31% |
| Kornit Digital Ltd. |
KRNT |
M6372Q113 |
5,556 |
$80,228.64 |
0.30% |
| HEICO Corporation (Class A) |
HEI/A |
422806208 |
316 |
$79,293.88 |
0.29% |
| Ryan Specialty Holdings, Inc. (Class A) |
RYAN |
78351F107 |
1,515 |
$78,204.30 |
0.29% |
| Coherent Corp. |
COHR |
19247G107 |
737 |
$75,903.63 |
0.28% |
| HealthStream, Inc. |
HSTM |
42222N103 |
2,626 |
$75,786.36 |
0.28% |
| James Hardie Industries Plc |
JHX |
G4253H101 |
3,737 |
$74,702.63 |
0.28% |
| Nextracker Inc. (Class A) |
NXT |
65290E101 |
1,120 |
$74,704.00 |
0.28% |
| Planet Fitness, Inc. (Class A) |
PLNT |
72703H101 |
738 |
$75,106.26 |
0.28% |
| Thor Industries, Inc. |
THO |
885160101 |
724 |
$76,027.24 |
0.28% |
| Amicus Therapeutics, Inc. |
FOLD |
03152W109 |
9,028 |
$72,133.72 |
0.27% |
| Amprius Technologies, Inc. |
AMPX |
03214Q108 |
8,939 |
$72,674.07 |
0.27% |
| Azenta Inc. |
AZTA |
114340102 |
2,437 |
$72,281.42 |
0.27% |
| Embraer S.A. (ADR) |
ERJ |
29082A107 |
1,297 |
$74,344.04 |
0.27% |
| ODDITY Tech Ltd. (Class A) |
ODD |
M7518J104 |
1,158 |
$72,745.56 |
0.27% |
| Power Integrations, Inc. |
POWI |
739276103 |
1,679 |
$74,144.64 |
0.27% |
| Scholar Rock Holding Corporation |
SRRK |
80706P103 |
2,344 |
$74,234.48 |
0.27% |
| Skyward Specialty Insurance Group, Inc. |
SKWD |
830940102 |
1,604 |
$73,896.28 |
0.27% |
| Antero Resources Corporation |
AR |
03674X106 |
2,109 |
$69,744.63 |
0.26% |
| Flowserve Corporation |
FLS |
34354P105 |
1,228 |
$69,087.28 |
0.26% |
| Septerna, Inc. |
SEPN |
81734D104 |
4,954 |
$70,743.12 |
0.26% |
| AST SpaceMobile, Inc. |
ASTS |
00217D100 |
1,737 |
$67,256.64 |
0.25% |
| Everus Construction Group, Inc. |
ECG |
300426103 |
864 |
$67,970.88 |
0.25% |
| Generac Holdings Inc. |
GNRC |
368736104 |
366 |
$67,486.74 |
0.25% |
| Global-E Online Ltd. |
GLBE |
M5216V106 |
1,932 |
$68,933.76 |
0.25% |
| Hudbay Minerals Inc. |
HBM |
443628102 |
5,015 |
$67,852.95 |
0.25% |
| Titan Machinery Inc. |
TITN |
88830R101 |
3,561 |
$68,656.08 |
0.25% |
| Toast, Inc. (Class A) |
TOST |
888787108 |
1,705 |
$68,114.75 |
0.25% |
| Axsome Therapeutics, Inc. |
AXSM |
05464T104 |
545 |
$64,538.90 |
0.24% |
| MYR Group Inc. |
MYRG |
55405W104 |
356 |
$62,520.72 |
0.23% |
| StoneX Group Inc. |
SNEX |
861896108 |
631 |
$60,951.45 |
0.23% |
| D-Wave Quantum, Inc. |
QBTS |
26740W109 |
3,377 |
$59,975.52 |
0.22% |
| OSI Systems, Inc. |
OSIS |
671044105 |
251 |
$58,934.80 |
0.22% |
| PAR Technology Corporation |
PAR |
698884103 |
1,326 |
$58,370.52 |
0.22% |
| Travel + Leisure Co. |
TNL |
894164102 |
952 |
$58,843.12 |
0.22% |
| Corcept Therapeutics Inc. |
CORT |
218352102 |
770 |
$56,109.90 |
0.21% |
| NuScale Power Corporation (Class A) |
SMR |
67079K100 |
1,589 |
$57,744.26 |
0.21% |
| TeraWulf Inc. |
WULF |
88080T104 |
5,237 |
$56,350.12 |
0.21% |
| Alkermes Plc |
ALKS |
G01767105 |
2,021 |
$54,506.37 |
0.20% |
| Tarsus Pharmaceuticals, Inc. |
TARS |
87650L103 |
1,091 |
$53,851.76 |
0.20% |
| Wave Life Sciences Ltd. |
WVE |
Y95308105 |
7,855 |
$54,749.35 |
0.20% |
| PROS Holdings, Inc. |
PRO |
74346Y103 |
3,586 |
$52,104.58 |
0.19% |
| Soleno Therapeutics, Inc. |
SLNO |
834203309 |
939 |
$50,349.18 |
0.19% |
| Resideo Technologies, Inc. |
REZI |
76118Y104 |
1,262 |
$48,044.34 |
0.18% |
| Simulations Plus, Inc. |
SLP |
829214105 |
3,232 |
$48,641.60 |
0.18% |
| Travere Therapeutics, Inc. |
TVTX |
89422G107 |
2,071 |
$48,606.37 |
0.18% |
| AvePoint, Inc. |
AVPT |
053604104 |
3,030 |
$47,313.46 |
0.17% |
| Customers Bancorp, Inc. |
CUBI |
23204G100 |
664 |
$45,052.40 |
0.17% |
| Ultragenyx Pharmaceutical Inc. |
RARE |
90400D108 |
1,484 |
$44,980.04 |
0.17% |
| Accelerant Holdings (Class A) |
ARX |
G00894108 |
2,504 |
$43,093.84 |
0.16% |
| Centrus Energy Corp. (Class A) |
LEU |
15643U104 |
200 |
$44,426.00 |
0.16% |
| Nuvalent, Inc. (Class A) |
NUVL |
670703107 |
529 |
$42,568.63 |
0.16% |
| Edgewise Therapeutics, Inc. |
EWTX |
28036F105 |
2,826 |
$40,242.24 |
0.15% |
| IES Holdings, Inc. |
IESC |
44951W106 |
105 |
$39,640.65 |
0.15% |
| Dycom Industries, Inc. |
DY |
267475101 |
151 |
$38,933.84 |
0.14% |
| Spyre Therapeutics, Inc. |
SYRE |
00773J202 |
2,399 |
$37,544.35 |
0.14% |
| CAVA Group, Inc. |
CAVA |
148929102 |
494 |
$31,433.22 |
0.12% |
| Bullish |
BLSH |
G16910120 |
581 |
$30,119.04 |
0.11% |
| Glaukos Corporation |
GKOS |
377322102 |
359 |
$29,710.84 |
0.11% |
| Abivax SA (ADR) |
ABVX |
00370M103 |
314 |
$26,379.14 |
0.10% |
| Insulet Corporation |
PODD |
45784P101 |
76 |
$25,975.28 |
0.10% |
| Slide Insurance Holdings, Inc. |
SLDE |
831349105 |
1,478 |
$21,283.20 |
0.08% |
| Canadian Dollar |
$CAD |
|
42 |
$30.67 |
0.00% |
| OmniAb Inc. 12.50 Earnout |
2200963D |
68218J202 |
46 |
$0.00 |
0.00% |
| OmniAb Inc. 15.00 Earnout |
2200964D |
68218J301 |
46 |
$0.00 |
0.00% |
Holdings are subject to change.
The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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