NICHOLAS COMPANY, INC. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ETN	Eaton Corp. Plc	156,225	$49,759	0.9%	$354.39	0.0%	SHS	G29183103
UL	Unilever PLC Sponsored ADR	129,769	$8,487	0.1%	$65.40	—	SPON ADR NEW	904767803
RYAN	Ryan Specialty Holdings, Inc. Class A	118,640	$6,125	0.1%	$54.85	0.0%	CL A	78351F107
LNT	Alliant Energy Corporation	88,235	$5,736	0.1%	$66.83	0.0%	COM	018802108
AMGN	Amgen Inc.	16,415	$5,373	0.1%	$315.95	0.0%	COM	031162100
SYY	Sysco Corporation	30,915	$2,278	0.0%	$75.50	0.0%	COM	871829107
MICC	Magnum Ice Cream Co. N.V.	75	$1	0.0%	$15.68	0.0%	ORD SHS	N5505D105

Increased Positions (46)

KO Coca-Cola Company 1.3%

Value ($000) $75,895 (+55.3%) Shares 1,085,610 (+47.3%) Est. Cost $63.57 Unrealized +9.2%

AAPL Apple Inc. 3.0%

Value ($000) $171,678 (+14.9%) Shares 631,495 (+7.7%) Est. Cost $95.72 Unrealized +180.4%

WCN Waste Connections, Inc. 1.4%

Value ($000) $78,756 (+32.1%) Shares 449,112 (+32.4%) Est. Cost $167.39 Unrealized +3.2%

JCI Johnson Controls International plc 0.9%

Value ($000) $50,503 (+54.3%) Shares 421,735 (+41.7%) Est. Cost $109.20 Unrealized +5.1%

MCD McDonald's Corporation 1.1%

Value ($000) $60,966 (+12.1%) Shares 199,475 (+11.5%) Est. Cost $189.55 Unrealized +61.0%

SBUX Starbucks Corporation 1.1%

Value ($000) $61,806 (+11.3%) Shares 733,950 (+11.8%) Est. Cost $60.51 Unrealized +38.9%

META Meta Platforms Inc Class A 1.4%

Value ($000) $78,821 (+7.3%) Shares 119,410 (+19.4%) Est. Cost $624.84 Unrealized +6.8%

ALC Alcon AG 1.0%

Value ($000) $54,269 (+10.3%) Shares 688,610 (+4.3%) Est. Cost $60.53 Unrealized +27.2%

TTD Trade Desk, Inc. Class A 0.7%

Value ($000) $38,596 (-11.5%) Shares 1,016,743 (+14.3%) Est. Cost $66.18 Unrealized -33.0%

TEAM Atlassian Corp Class A 0.9%

Value ($000) $49,748 (+10.3%) Shares 306,819 (+8.7%) Est. Cost $174.24 Unrealized -9.9%

ICE Intercontinental Exchange, Inc. 1.2%

Value ($000) $70,802 (+5.9%) Shares 437,155 (+10.1%) Est. Cost $82.70 Unrealized +88.9%

ADBE Adobe Inc. 1.1%

Value ($000) $61,117 (+6.8%) Shares 174,626 (+7.6%) Est. Cost $399.37 Unrealized -14.8%

SN SharkNinja, Inc. 0.2%

Value ($000) $12,985 (+41.3%) Shares 116,041 (+30.3%) Est. Cost $110.57 Unrealized -10.9%

IQV IQVIA Holdings Inc 0.3%

Value ($000) $18,120 (+26.0%) Shares 80,386 (+6.1%) Est. Cost $120.32 Unrealized +80.8%

NOW ServiceNow, Inc. 1.1%

Value ($000) $65,261 (+5.3%) Shares 426,015 (+532.6%) Est. Cost $152.67 Unrealized +12.4%

BURL Burlington Stores, Inc. 0.3%

Value ($000) $14,617 (+23.2%) Shares 50,605 (+8.5%) Est. Cost $158.02 Unrealized +71.7%

VIK Viking Holdings Ltd 0.2%

Value ($000) $11,515 (+28.8%) Shares 161,250 (+12.1%) Est. Cost $60.08 Unrealized +6.2%

TECH Bio-Techne Corporation 0.4%

Value ($000) $22,983 (+12.6%) Shares 390,794 (+6.5%) Est. Cost $67.63 Unrealized -10.2%

RVTY Revvity, Inc. 0.2%

Value ($000) $13,867 (+19.3%) Shares 143,330 (+8.1%) Est. Cost $89.52 Unrealized +7.2%

SLP Simulations Plus, Inc. 0.1%

Value ($000) $4,789 (+72.9%) Shares 262,712 (+42.9%) Est. Cost $26.46 Unrealized -33.7%

MDT Medtronic Plc 0.1%

Value ($000) $6,802 (+39.8%) Shares 70,815 (+38.6%) Est. Cost $78.91 Unrealized +23.1%

UNP Union Pacific Corporation 0.2%

Value ($000) $10,972 (+20.9%) Shares 47,431 (+23.5%) Est. Cost $210.00 Unrealized +8.2%

MAMA Mama's Creations, Inc. 0.1%

Value ($000) $5,323 (+52.2%) Shares 394,601 (+18.6%) Est. Cost $9.45 Unrealized +21.7%

INTA Intapp, Inc. 0.1%

Value ($000) $6,787 (+29.9%) Shares 148,124 (+16.0%) Est. Cost $46.71 Unrealized -11.2%

STE STERIS plc 0.3%

Value ($000) $19,768 (+8.3%) Shares 77,975 (+5.8%) Est. Cost $141.74 Unrealized +77.2%

NKE NIKE, Inc. Class B 0.1%

Value ($000) $7,878 (+21.8%) Shares 123,652 (+33.3%) Est. Cost $72.93 Unrealized -11.0%

TXN Texas Instruments Incorporated 1.0%

Value ($000) $57,621 (-2.4%) Shares 332,129 (+3.4%) Est. Cost $139.55 Unrealized +22.3%

ATRC AtriCure, Inc. 0.1%

Value ($000) $8,130 (+19.7%) Shares 205,505 (+6.7%) Est. Cost $54.67 Unrealized -32.9%

NOVT Novanta Inc 0.1%

Value ($000) $5,740 (+29.2%) Shares 48,239 (+8.8%) Est. Cost $155.86 Unrealized -26.9%

CSW CSW Industrials, Inc. 0.1%

Value ($000) $3,290 (+56.5%) Shares 11,210 (+29.4%) Est. Cost $267.40 Unrealized -0.4%

CWST Casella Waste Systems, Inc. Class A 0.1%

Value ($000) $7,778 (+17.6%) Shares 79,418 (+13.9%) Est. Cost $102.67 Unrealized -9.6%

NFLX Netflix, Inc. 1.0%

Value ($000) $56,844 (+1.9%) Shares 606,275 (+1203.0%) Est. Cost $107.10 Unrealized +0.7%

SNPS Synopsys, Inc. 1.1%

Value ($000) $63,561 (+1.7%) Shares 135,317 (+6.8%) Est. Cost $329.56 Unrealized +34.8%

VRSK Verisk Analytics Inc 0.3%

Value ($000) $17,740 (-5.2%) Shares 79,305 (+6.6%) Est. Cost $90.11 Unrealized +150.0%

WEC WEC Energy Group Inc 0.1%

Value ($000) $5,340 (+17.2%) Shares 50,635 (+27.4%) Est. Cost $76.67 Unrealized +43.8%

PHR Phreesia, Inc. 0.1%

Value ($000) $4,207 (-15.7%) Shares 248,652 (+17.2%) Est. Cost $23.73 Unrealized -13.0%

WSM Williams-Sonoma, Inc. 0.2%

Value ($000) $9,026 (-7.7%) Shares 50,539 (+1.0%) Est. Cost $156.50 Unrealized +19.6%

BAH Booz Allen Hamilton Holding Corporation Class A 0.1%

Value ($000) $5,115 (-11.6%) Shares 60,635 (+4.7%) Est. Cost $115.51 Unrealized -23.4%

SPSC SPS Commerce, Inc. 0.1%

Value ($000) $5,742 (-6.4%) Shares 64,418 (+9.3%) Est. Cost $107.40 Unrealized -13.7%

WMB Williams Companies, Inc. 0.0%

Value ($000) $2,402 (+16.4%) Shares 39,952 (+22.7%) Est. Cost $37.97 Unrealized +58.2%

MCHP Microchip Technology Incorporated 0.5%

Value ($000) $25,724 (+1.1%) Shares 403,707 (+1.9%) Est. Cost $56.28 Unrealized +9.0%

BX Blackstone Inc. 0.1%

Value ($000) $7,385 (+3.9%) Shares 47,910 (+15.1%) Est. Cost $146.82 Unrealized +3.2%

NCNO nCino Inc 0.1%

Value ($000) $7,157 (+3.6%) Shares 279,118 (+9.6%) Est. Cost $30.00 Unrealized -15.4%

ALKT Alkami Technology Inc 0.1%

Value ($000) $7,205 (+3.3%) Shares 312,297 (+11.2%) Est. Cost $26.59 Unrealized -17.0%

TSCO Tractor Supply Company 0.1%

Value ($000) $5,337 (-3.9%) Shares 106,709 (+9.3%) Est. Cost $53.90 Unrealized -0.4%

AMT American Tower Corporation 0.1%

Value ($000) $6,636 (+1.5%) Shares 37,795 (+11.2%) Est. Cost $184.24 Unrealized -2.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KO	Coca-Cola Company	1,085,610 (+47.3%)	$75,895 (+55.3%)	1.3%	$63.57	+9.2%	COM	191216100
AAPL	Apple Inc.	631,495 (+7.7%)	$171,678 (+14.9%)	3.0%	$95.72	+180.4%	COM	037833100
WCN	Waste Connections, Inc.	449,112 (+32.4%)	$78,756 (+32.1%)	1.4%	$167.39	+3.2%	COM	94106B101
JCI	Johnson Controls International plc	421,735 (+41.7%)	$50,503 (+54.3%)	0.9%	$109.20	+5.1%	SHS	G51502105
MCD	McDonald's Corporation	199,475 (+11.5%)	$60,966 (+12.1%)	1.1%	$189.55	+61.0%	COM	580135101
SBUX	Starbucks Corporation	733,950 (+11.8%)	$61,806 (+11.3%)	1.1%	$60.51	+38.9%	COM	855244109
META	Meta Platforms Inc Class A	119,410 (+19.4%)	$78,821 (+7.3%)	1.4%	$624.84	+6.8%	CL A	30303M102
ALC	Alcon AG	688,610 (+4.3%)	$54,269 (+10.3%)	1.0%	$60.53	+27.2%	ORD SHS	H01301128
TTD	Trade Desk, Inc. Class A	1,016,743 (+14.3%)	$38,596 (-11.5%)	0.7%	$66.18	-33.0%	COM CL A	88339J105
TEAM	Atlassian Corp Class A	306,819 (+8.7%)	$49,748 (+10.3%)	0.9%	$174.24	-9.9%	CL A	049468101
ICE	Intercontinental Exchange, Inc.	437,155 (+10.1%)	$70,802 (+5.9%)	1.2%	$82.70	+88.9%	COM	45866F104
ADBE	Adobe Inc.	174,626 (+7.6%)	$61,117 (+6.8%)	1.1%	$399.37	-14.8%	COM	00724F101
SN	SharkNinja, Inc.	116,041 (+30.3%)	$12,985 (+41.3%)	0.2%	$110.57	-10.9%	COM SHS	G8068L108
IQV	IQVIA Holdings Inc	80,386 (+6.1%)	$18,120 (+26.0%)	0.3%	$120.32	+80.8%	COM	46266C105
NOW	ServiceNow, Inc.	426,015 (+532.6%)	$65,261 (+5.3%)	1.1%	$152.67	+12.4%	COM	81762P102
BURL	Burlington Stores, Inc.	50,605 (+8.5%)	$14,617 (+23.2%)	0.3%	$158.02	+71.7%	COM	122017106
VIK	Viking Holdings Ltd	161,250 (+12.1%)	$11,515 (+28.8%)	0.2%	$60.08	+6.2%	ORD SHS	G93A5A101
TECH	Bio-Techne Corporation	390,794 (+6.5%)	$22,983 (+12.6%)	0.4%	$67.63	-10.2%	COM	09073M104
RVTY	Revvity, Inc.	143,330 (+8.1%)	$13,867 (+19.3%)	0.2%	$89.52	+7.2%	COM	714046109
SLP	Simulations Plus, Inc.	262,712 (+42.9%)	$4,789 (+72.9%)	0.1%	$26.46	-33.7%	COM	829214105
MDT	Medtronic Plc	70,815 (+38.6%)	$6,802 (+39.8%)	0.1%	$78.91	+23.1%	SHS	G5960L103
UNP	Union Pacific Corporation	47,431 (+23.5%)	$10,972 (+20.9%)	0.2%	$210.00	+8.2%	COM	907818108
MAMA	Mama's Creations, Inc.	394,601 (+18.6%)	$5,323 (+52.2%)	0.1%	$9.45	+21.7%	COM	56146T103
INTA	Intapp, Inc.	148,124 (+16.0%)	$6,787 (+29.9%)	0.1%	$46.71	-11.2%	COM	45827U109
STE	STERIS plc	77,975 (+5.8%)	$19,768 (+8.3%)	0.3%	$141.74	+77.2%	SHS USD	G8473T100
NKE	NIKE, Inc. Class B	123,652 (+33.3%)	$7,878 (+21.8%)	0.1%	$72.93	-11.0%	CL B	654106103
TXN	Texas Instruments Incorporated	332,129 (+3.4%)	$57,621 (-2.4%)	1.0%	$139.55	+22.3%	COM	882508104
ATRC	AtriCure, Inc.	205,505 (+6.7%)	$8,130 (+19.7%)	0.1%	$54.67	-32.9%	COM	04963C209
NOVT	Novanta Inc	48,239 (+8.8%)	$5,740 (+29.2%)	0.1%	$155.86	-26.9%	COM	67000B104
CSW	CSW Industrials, Inc.	11,210 (+29.4%)	$3,290 (+56.5%)	0.1%	$267.40	-0.4%	COM	126402106
CWST	Casella Waste Systems, Inc. Class A	79,418 (+13.9%)	$7,778 (+17.6%)	0.1%	$102.67	-9.6%	CL A	147448104
NFLX	Netflix, Inc.	606,275 (+1203.0%)	$56,844 (+1.9%)	1.0%	$107.10	+0.7%	COM	64110L106
SNPS	Synopsys, Inc.	135,317 (+6.8%)	$63,561 (+1.7%)	1.1%	$329.56	+34.8%	COM	871607107
VRSK	Verisk Analytics Inc	79,305 (+6.6%)	$17,740 (-5.2%)	0.3%	$90.11	+150.0%	COM	92345Y106
WEC	WEC Energy Group Inc	50,635 (+27.4%)	$5,340 (+17.2%)	0.1%	$76.67	+43.8%	COM	92939U106
PHR	Phreesia, Inc.	248,652 (+17.2%)	$4,207 (-15.7%)	0.1%	$23.73	-13.0%	COM	71944F106
WSM	Williams-Sonoma, Inc.	50,539 (+1.0%)	$9,026 (-7.7%)	0.2%	$156.50	+19.6%	COM	969904101
BAH	Booz Allen Hamilton Holding Corporation Class A	60,635 (+4.7%)	$5,115 (-11.6%)	0.1%	$115.51	-23.4%	CL A	099502106
SPSC	SPS Commerce, Inc.	64,418 (+9.3%)	$5,742 (-6.4%)	0.1%	$107.40	-13.7%	COM	78463M107
WMB	Williams Companies, Inc.	39,952 (+22.7%)	$2,402 (+16.4%)	0.0%	$37.97	+58.2%	COM	969457100
MCHP	Microchip Technology Incorporated	403,707 (+1.9%)	$25,724 (+1.1%)	0.5%	$56.28	+9.0%	COM	595017104
BX	Blackstone Inc.	47,910 (+15.1%)	$7,385 (+3.9%)	0.1%	$146.82	+3.2%	COM	09260D107
NCNO	nCino Inc	279,118 (+9.6%)	$7,157 (+3.6%)	0.1%	$30.00	-15.4%	COM	63947X101
ALKT	Alkami Technology Inc	312,297 (+11.2%)	$7,205 (+3.3%)	0.1%	$26.59	-17.0%	COM	01644J108
TSCO	Tractor Supply Company	106,709 (+9.3%)	$5,337 (-3.9%)	0.1%	$53.90	-0.4%	COM	892356106
AMT	American Tower Corporation	37,795 (+11.2%)	$6,636 (+1.5%)	0.1%	$184.24	-2.1%	COM	03027X100

Exited Positions (17)

FISV Fiserv, Inc. 1.2%

Value ($000) $68,217 Shares 529,099 Est. Cost $94.77 Unrealized -11.5%

KVUE Kenvue, Inc. 0.7%

Value ($000) $42,582 Shares 2,623,637 Est. Cost $19.79 Unrealized -17.8%

MNDY monday.com Ltd. 0.2%

Value ($000) $11,703 Shares 60,422 Est. Cost $264.71 Unrealized -36.4%

ORCL Oracle Corporation 0.2%

Value ($000) $11,039 Shares 39,250 Est. Cost $99.99 Unrealized +138.1%

— WNS (Holdings) Limited 0.2%

Value ($000) $9,363 Shares 122,764 Est. Cost $50.20 Unrealized —

— Unilever PLC Sponsored ADR 0.1%

Value ($000) $8,163 Shares 137,700 Est. Cost $51.93 Unrealized —

CMCSA Comcast Corporation Class A 0.1%

Value ($000) $6,435 Shares 204,801 Est. Cost $38.51 Unrealized -25.9%

DD DuPont de Nemours, Inc. 0.1%

Value ($000) $6,177 Shares 79,300 Est. Cost $22.75 Unrealized +64.3%

OC Owens Corning 0.1%

Value ($000) $5,740 Shares 40,575 Est. Cost $143.39 Unrealized -18.1%

WSO Watsco, Inc. 0.1%

Value ($000) $5,667 Shares 14,018 Est. Cost $484.65 Unrealized -26.3%

ARE Alexandria Real Estate Equities, Inc. 0.1%

Value ($000) $4,872 Shares 58,455 Est. Cost $93.75 Unrealized -38.1%

LW Lamb Weston Holdings, Inc. 0.1%

Value ($000) $4,744 Shares 81,678 Est. Cost $62.81 Unrealized -6.5%

JJSF J & J Snack Foods Corp. 0.1%

Value ($000) $4,415 Shares 45,945 Est. Cost $150.72 Unrealized -40.3%

RPAY Repay Holdings Corp. Class A 0.1%

Value ($000) $4,094 Shares 782,881 Est. Cost $11.10 Unrealized -63.9%

OMCL Omnicell, Inc. 0.1%

Value ($000) $3,624 Shares 119,018 Est. Cost $62.15 Unrealized -41.1%

FIX Comfort Systems USA, Inc. 0.0%

Value ($000) $1,839 Shares 2,229 Est. Cost $87.43 Unrealized +955.7%

JEF Jefferies Financial Group Inc. 0.0%

Value ($000) $1,595 Shares 24,380 Est. Cost $59.90 Unrealized -5.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	Fiserv, Inc.	529,099	$68,217	1.2%	$94.77	-11.5%	—	337738108
KVUE	Kenvue, Inc.	2,623,637	$42,582	0.7%	$19.79	-17.8%	—	49177J102
MNDY	monday.com Ltd.	60,422	$11,703	0.2%	$264.71	-36.4%	—	M7S64H106
ORCL	Oracle Corporation	39,250	$11,039	0.2%	$99.99	+138.1%	—	68389X105
—	WNS (Holdings) Limited	122,764	$9,363	0.2%	$50.20	—	—	G98196101
—	Unilever PLC Sponsored ADR	137,700	$8,163	0.1%	$51.93	—	—	904767704
CMCSA	Comcast Corporation Class A	204,801	$6,435	0.1%	$38.51	-25.9%	—	20030N101
DD	DuPont de Nemours, Inc.	79,300	$6,177	0.1%	$22.75	+64.3%	—	26614N102
OC	Owens Corning	40,575	$5,740	0.1%	$143.39	-18.1%	—	690742101
WSO	Watsco, Inc.	14,018	$5,667	0.1%	$484.65	-26.3%	—	942622200
ARE	Alexandria Real Estate Equities, Inc.	58,455	$4,872	0.1%	$93.75	-38.1%	—	015271109
LW	Lamb Weston Holdings, Inc.	81,678	$4,744	0.1%	$62.81	-6.5%	—	513272104
JJSF	J & J Snack Foods Corp.	45,945	$4,415	0.1%	$150.72	-40.3%	—	466032109
RPAY	Repay Holdings Corp. Class A	782,881	$4,094	0.1%	$11.10	-63.9%	—	76029L100
OMCL	Omnicell, Inc.	119,018	$3,624	0.1%	$62.15	-41.1%	—	68213N109
FIX	Comfort Systems USA, Inc.	2,229	$1,839	0.0%	$87.43	+955.7%	—	199908104
JEF	Jefferies Financial Group Inc.	24,380	$1,595	0.0%	$59.90	-5.4%	—	47233W109

Decreased Positions (45)

CMG Chipotle Mexican Grill, Inc. 0.2%

Value ($000) $13,013 (-76.8%) Shares 351,690 (-75.5%) Est. Cost $60.16 Unrealized -39.9%

GOOG Alphabet Inc. Class C 4.4%

Value ($000) $250,259 (+11.4%) Shares 797,510 (-13.5%) Est. Cost $106.18 Unrealized +169.7%

ORLY O'Reilly Automotive, Inc. 1.5%

Value ($000) $87,641 (-17.2%) Shares 960,870 (-2.1%) Est. Cost $85.60 Unrealized +14.1%

SNOW Snowflake, Inc. Class A 0.9%

Value ($000) $53,785 (-24.2%) Shares 245,189 (-22.1%) Est. Cost $147.42 Unrealized +65.6%

FAST Fastenal Company 1.0%

Value ($000) $56,255 (-20.9%) Shares 1,401,810 (-3.4%) Est. Cost $21.37 Unrealized +96.7%

AZN Astrazeneca PLC Sponsored ADR 1.7%

Value ($000) $99,639 (+15.1%) Shares 1,083,854 (-3.9%) Est. Cost $66.60 Unrealized —

VMC Vulcan Materials Company 1.3%

Value ($000) $74,815 (-11.9%) Shares 262,305 (-4.9%) Est. Cost $149.87 Unrealized +95.6%

AMD Advanced Micro Devices, Inc. 1.1%

Value ($000) $63,786 (-12.1%) Shares 297,845 (-33.6%) Est. Cost $122.67 Unrealized +83.1%

LLY Eli Lilly and Company 1.5%

Value ($000) $83,104 (+10.6%) Shares 77,329 (-21.5%) Est. Cost $290.05 Unrealized +229.4%

MORN Morningstar, Inc. 0.1%

Value ($000) $5,719 (-56.4%) Shares 26,315 (-53.5%) Est. Cost $215.53 Unrealized +0.5%

SWKS Skyworks Solutions, Inc. 0.0%

Value ($000) $1,368 (-83.4%) Shares 21,566 (-79.8%) Est. Cost $71.27 Unrealized -2.5%

ADI Analog Devices, Inc. 0.1%

Value ($000) $6,309 (-51.6%) Shares 23,263 (-56.2%) Est. Cost $120.57 Unrealized +107.9%

CRWD CrowdStrike Holdings, Inc. Class A 0.0%

Value ($000) $1,425 (-82.2%) Shares 3,040 (-81.4%) Est. Cost $166.48 Unrealized +205.9%

TJX TJX Companies Inc 1.8%

Value ($000) $100,896 (-6.0%) Shares 656,830 (-11.5%) Est. Cost $38.88 Unrealized +279.9%

AVGO Broadcom Inc. 0.1%

Value ($000) $7,136 (-46.8%) Shares 20,617 (-49.3%) Est. Cost $145.91 Unrealized +144.7%

GMED Globus Medical Inc Class A 0.5%

Value ($000) $26,867 (+30.3%) Shares 307,721 (-14.5%) Est. Cost $57.78 Unrealized +31.3%

VEEV Veeva Systems Inc Class A 0.3%

Value ($000) $15,102 (-27.9%) Shares 67,650 (-3.7%) Est. Cost $149.22 Unrealized +77.8%

PTC PTC Inc. 0.3%

Value ($000) $19,529 (-20.1%) Shares 112,099 (-6.9%) Est. Cost $89.09 Unrealized +108.6%

FIVN Five9, Inc. 0.0%

Value ($000) $20 (-99.6%) Shares 1,008 (-99.5%) Est. Cost $56.88 Unrealized -62.7%

LRCX Lam Research Corporation 1.0%

Value ($000) $54,965 (-7.2%) Shares 321,092 (-27.4%) Est. Cost $76.05 Unrealized +104.3%

VRNS Varonis Systems, Inc. 0.1%

Value ($000) $5,071 (-45.4%) Shares 154,615 (-4.4%) Est. Cost $30.43 Unrealized +38.0%

RMD ResMed Inc. 0.3%

Value ($000) $14,539 (-17.5%) Shares 60,360 (-6.2%) Est. Cost $62.65 Unrealized +307.7%

OPLN OPENLANE, Inc. 0.1%

Value ($000) $6,380 (-31.7%) Shares 214,246 (-34.0%) Est. Cost $16.07 Unrealized +68.3%

EHC Encompass Health Corporation 0.1%

Value ($000) $8,219 (-23.6%) Shares 77,433 (-8.6%) Est. Cost $61.73 Unrealized +87.4%

BR Broadridge Financial Solutions, Inc. 0.3%

Value ($000) $17,058 (-12.1%) Shares 76,434 (-6.2%) Est. Cost $96.41 Unrealized +135.8%

SCI Service Corporation International 0.3%

Value ($000) $16,379 (-11.2%) Shares 210,070 (-5.2%) Est. Cost $27.90 Unrealized +186.7%

OKTA Okta, Inc. Class A 0.2%

Value ($000) $13,838 (-12.5%) Shares 160,038 (-7.2%) Est. Cost $91.48 Unrealized -4.6%

LSCC Lattice Semiconductor Corporation 0.5%

Value ($000) $26,452 (-6.8%) Shares 359,503 (-7.1%) Est. Cost $48.03 Unrealized —

LHX L3Harris Technologies Inc 0.3%

Value ($000) $18,173 (-8.9%) Shares 61,905 (-5.2%) Est. Cost $178.86 Unrealized +61.3%

BJ BJ's Wholesale Club Holdings, Inc. 0.3%

Value ($000) $17,375 (-8.6%) Shares 192,994 (-5.3%) Est. Cost $28.90 Unrealized +217.7%

ULTA Ulta Beauty Inc. 0.4%

Value ($000) $21,947 (+7.9%) Shares 36,275 (-2.4%) Est. Cost $388.51 Unrealized +41.5%

IT Gartner, Inc. 0.2%

Value ($000) $9,251 (-13.5%) Shares 36,668 (-9.8%) Est. Cost $113.75 Unrealized +111.6%

NTRS Northern Trust Corporation 0.2%

Value ($000) $10,760 (-11.6%) Shares 78,776 (-12.9%) Est. Cost $56.89 Unrealized +129.8%

CMS CMS Energy Corporation 0.2%

Value ($000) $10,632 (-10.3%) Shares 152,040 (-6.1%) Est. Cost $48.71 Unrealized +48.8%

COO Cooper Companies, Inc. 0.2%

Value ($000) $12,935 (+10.3%) Shares 157,815 (-7.7%) Est. Cost $96.75 Unrealized -22.6%

PLUS ePlus inc. 0.1%

Value ($000) $7,480 (+17.4%) Shares 85,288 (-4.9%) Est. Cost $46.62 Unrealized +77.0%

KLAC KLA Corporation 0.9%

Value ($000) $54,059 (-2.0%) Shares 44,490 (-13.0%) Est. Cost $302.02 Unrealized +288.0%

ROAD Construction Partners, Inc. Class A 0.1%

Value ($000) $3,665 (-22.8%) Shares 33,763 (-9.7%) Est. Cost $29.70 Unrealized +279.0%

AME AMETEK, Inc. 0.4%

Value ($000) $22,438 (+4.3%) Shares 109,288 (-4.5%) Est. Cost $46.04 Unrealized +322.1%

WAB Westinghouse Air Brake Technologies Corporation 0.3%

Value ($000) $16,657 (-5.0%) Shares 78,038 (-10.7%) Est. Cost $68.42 Unrealized +200.1%

MRK Merck & Co., Inc. 0.1%

Value ($000) $5,174 (+13.2%) Shares 49,156 (-9.7%) Est. Cost $71.78 Unrealized +29.9%

CBRE CBRE Group, Inc. Class A 0.4%

Value ($000) $23,531 (-2.0%) Shares 146,345 (-4.0%) Est. Cost $30.41 Unrealized +417.0%

OPCH Option Care Health Inc 0.1%

Value ($000) $6,841 (-1.9%) Shares 214,720 (-14.5%) Est. Cost $30.70 Unrealized -4.4%

NDAQ Nasdaq, Inc. 0.1%

Value ($000) $8,309 (-1.1%) Shares 85,545 (-9.9%) Est. Cost $57.13 Unrealized +57.1%

DCI Donaldson Company, Inc. 0.1%

Value ($000) $5,965 (+1.4%) Shares 67,280 (-6.4%) Est. Cost $59.58 Unrealized +45.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMG	Chipotle Mexican Grill, Inc.	351,690 (-75.5%)	$13,013 (-76.8%)	0.2%	$60.16	-39.9%	COM	169656105
GOOG	Alphabet Inc. Class C	797,510 (-13.5%)	$250,259 (+11.4%)	4.4%	$106.18	+169.7%	CAP STK CL C	02079K107
ORLY	O'Reilly Automotive, Inc.	960,870 (-2.1%)	$87,641 (-17.2%)	1.5%	$85.60	+14.1%	COM	67103H107
SNOW	Snowflake, Inc. Class A	245,189 (-22.1%)	$53,785 (-24.2%)	0.9%	$147.42	+65.6%	COM SHS	833445109
FAST	Fastenal Company	1,401,810 (-3.4%)	$56,255 (-20.9%)	1.0%	$21.37	+96.7%	COM	311900104
AZN	Astrazeneca PLC Sponsored ADR	1,083,854 (-3.9%)	$99,639 (+15.1%)	1.7%	$66.60	—	SPONSORED ADR	046353108
VMC	Vulcan Materials Company	262,305 (-4.9%)	$74,815 (-11.9%)	1.3%	$149.87	+95.6%	COM	929160109
AMD	Advanced Micro Devices, Inc.	297,845 (-33.6%)	$63,786 (-12.1%)	1.1%	$122.67	+83.1%	COM	007903107
LLY	Eli Lilly and Company	77,329 (-21.5%)	$83,104 (+10.6%)	1.5%	$290.05	+229.4%	COM	532457108
MORN	Morningstar, Inc.	26,315 (-53.5%)	$5,719 (-56.4%)	0.1%	$215.53	+0.5%	COM	617700109
SWKS	Skyworks Solutions, Inc.	21,566 (-79.8%)	$1,368 (-83.4%)	0.0%	$71.27	-2.5%	COM	83088M102
ADI	Analog Devices, Inc.	23,263 (-56.2%)	$6,309 (-51.6%)	0.1%	$120.57	+107.9%	COM	032654105
CRWD	CrowdStrike Holdings, Inc. Class A	3,040 (-81.4%)	$1,425 (-82.2%)	0.0%	$166.48	+205.9%	CL A	22788C105
TJX	TJX Companies Inc	656,830 (-11.5%)	$100,896 (-6.0%)	1.8%	$38.88	+279.9%	COM	872540109
AVGO	Broadcom Inc.	20,617 (-49.3%)	$7,136 (-46.8%)	0.1%	$145.91	+144.7%	COM	11135F101
GMED	Globus Medical Inc Class A	307,721 (-14.5%)	$26,867 (+30.3%)	0.5%	$57.78	+31.3%	CL A	379577208
VEEV	Veeva Systems Inc Class A	67,650 (-3.7%)	$15,102 (-27.9%)	0.3%	$149.22	+77.8%	CL A COM	922475108
PTC	PTC Inc.	112,099 (-6.9%)	$19,529 (-20.1%)	0.3%	$89.09	+108.6%	COM	69370C100
FIVN	Five9, Inc.	1,008 (-99.5%)	$20 (-99.6%)	0.0%	$56.88	-62.7%	COM	338307101
LRCX	Lam Research Corporation	321,092 (-27.4%)	$54,965 (-7.2%)	1.0%	$76.05	+104.3%	COM NEW	512807306
VRNS	Varonis Systems, Inc.	154,615 (-4.4%)	$5,071 (-45.4%)	0.1%	$30.43	+38.0%	COM	922280102
RMD	ResMed Inc.	60,360 (-6.2%)	$14,539 (-17.5%)	0.3%	$62.65	+307.7%	COM	761152107
OPLN	OPENLANE, Inc.	214,246 (-34.0%)	$6,380 (-31.7%)	0.1%	$16.07	+68.3%	COM	48238T109
EHC	Encompass Health Corporation	77,433 (-8.6%)	$8,219 (-23.6%)	0.1%	$61.73	+87.4%	COM	29261A100
BR	Broadridge Financial Solutions, Inc.	76,434 (-6.2%)	$17,058 (-12.1%)	0.3%	$96.41	+135.8%	COM	11133T103
SCI	Service Corporation International	210,070 (-5.2%)	$16,379 (-11.2%)	0.3%	$27.90	+186.7%	COM	817565104
OKTA	Okta, Inc. Class A	160,038 (-7.2%)	$13,838 (-12.5%)	0.2%	$91.48	-4.6%	CL A	679295105
LSCC	Lattice Semiconductor Corporation	359,503 (-7.1%)	$26,452 (-6.8%)	0.5%	$48.03	—	COM	518415104
LHX	L3Harris Technologies Inc	61,905 (-5.2%)	$18,173 (-8.9%)	0.3%	$178.86	+61.3%	COM	502431109
BJ	BJ's Wholesale Club Holdings, Inc.	192,994 (-5.3%)	$17,375 (-8.6%)	0.3%	$28.90	+217.7%	COM	05550J101
ULTA	Ulta Beauty Inc.	36,275 (-2.4%)	$21,947 (+7.9%)	0.4%	$388.51	+41.5%	COM	90384S303
IT	Gartner, Inc.	36,668 (-9.8%)	$9,251 (-13.5%)	0.2%	$113.75	+111.6%	COM	366651107
NTRS	Northern Trust Corporation	78,776 (-12.9%)	$10,760 (-11.6%)	0.2%	$56.89	+129.8%	COM	665859104
CMS	CMS Energy Corporation	152,040 (-6.1%)	$10,632 (-10.3%)	0.2%	$48.71	+48.8%	COM	125896100
COO	Cooper Companies, Inc.	157,815 (-7.7%)	$12,935 (+10.3%)	0.2%	$96.75	-22.6%	COM	216648501
PLUS	ePlus inc.	85,288 (-4.9%)	$7,480 (+17.4%)	0.1%	$46.62	+77.0%	COM	294268107
KLAC	KLA Corporation	44,490 (-13.0%)	$54,059 (-2.0%)	0.9%	$302.02	+288.0%	COM NEW	482480100
ROAD	Construction Partners, Inc. Class A	33,763 (-9.7%)	$3,665 (-22.8%)	0.1%	$29.70	+279.0%	COM CL A	21044C107
AME	AMETEK, Inc.	109,288 (-4.5%)	$22,438 (+4.3%)	0.4%	$46.04	+322.1%	COM	031100100
WAB	Westinghouse Air Brake Technologies Corporation	78,038 (-10.7%)	$16,657 (-5.0%)	0.3%	$68.42	+200.1%	COM	929740108
MRK	Merck & Co., Inc.	49,156 (-9.7%)	$5,174 (+13.2%)	0.1%	$71.78	+29.9%	COM	58933Y105
CBRE	CBRE Group, Inc. Class A	146,345 (-4.0%)	$23,531 (-2.0%)	0.4%	$30.41	+417.0%	CL A	12504L109
OPCH	Option Care Health Inc	214,720 (-14.5%)	$6,841 (-1.9%)	0.1%	$30.70	-4.4%	COM NEW	68404L201
NDAQ	Nasdaq, Inc.	85,545 (-9.9%)	$8,309 (-1.1%)	0.1%	$57.13	+57.1%	COM	631103108
DCI	Donaldson Company, Inc.	67,280 (-6.4%)	$5,965 (+1.4%)	0.1%	$59.58	+45.0%	COM	257651109

Unchanged Positions (107)

ZS Zscaler, Inc. 1.0%

Value ($000) $59,086 Shares 262,697 Est. Cost $213.70 Unrealized +32.1%

MSFT Microsoft Corporation 3.7%

Value ($000) $213,967 Shares 442,427 Est. Cost $29.91 Unrealized +1573.7%

TMO Thermo Fisher Scientific Inc. 1.6%

Value ($000) $92,693 Shares 159,968 Est. Cost $143.40 Unrealized +294.1%

HD Home Depot, Inc. 1.4%

Value ($000) $82,484 Shares 239,708 Est. Cost $105.64 Unrealized +245.1%

AMZN Amazon.com, Inc. 3.5%

Value ($000) $201,634 Shares 873,554 Est. Cost $129.94 Unrealized +76.1%

CRM Salesforce, Inc. 1.3%

Value ($000) $71,931 Shares 271,530 Est. Cost $168.81 Unrealized +47.0%

WDAY Workday, Inc. Class A 1.1%

Value ($000) $60,571 Shares 282,015 Est. Cost $157.58 Unrealized +44.2%

CARR Carrier Global Corp. 0.9%

Value ($000) $48,752 Shares 922,625 Est. Cost $67.32 Unrealized -17.5%

SPGI S&P Global, Inc. 1.5%

Value ($000) $86,510 Shares 165,540 Est. Cost $174.07 Unrealized +183.9%

COST Costco Wholesale Corporation 1.3%

Value ($000) $76,124 Shares 88,276 Est. Cost $277.85 Unrealized +226.0%

FTV Fortive Corp. 0.9%

Value ($000) $49,381 Shares 894,425 Est. Cost $32.36 Unrealized +60.3%

CDNS Cadence Design Systems, Inc. 0.7%

Value ($000) $42,557 Shares 136,146 Est. Cost $137.89 Unrealized +136.7%

MDB MongoDB, Inc. Class A 0.3%

Value ($000) $17,596 Shares 41,925 Est. Cost $263.57 Unrealized +38.0%

SHW Sherwin-Williams Company 1.2%

Value ($000) $65,849 Shares 203,220 Est. Cost $229.03 Unrealized +45.9%

CTAS Cintas Corporation 0.9%

Value ($000) $48,991 Shares 260,491 Est. Cost $137.48 Unrealized +36.8%

PANW Palo Alto Networks, Inc. 0.7%

Value ($000) $41,196 Shares 223,650 Est. Cost $121.73 Unrealized +65.7%

ROP Roper Technologies, Inc. 0.6%

Value ($000) $35,777 Shares 80,375 Est. Cost $346.53 Unrealized +33.4%

STVN Stevanato Group SpA 0.3%

Value ($000) $14,994 Shares 745,204 Est. Cost $20.06 Unrealized +15.8%

CSGP CoStar Group, Inc. 0.3%

Value ($000) $14,406 Shares 214,249 Est. Cost $80.84 Unrealized -12.4%

TDY Teledyne Technologies Incorporated 0.4%

Value ($000) $22,576 Shares 44,204 Est. Cost $376.48 Unrealized +40.0%

SYK Stryker Corporation 1.0%

Value ($000) $57,879 Shares 164,677 Est. Cost $279.60 Unrealized +30.0%

FOUR Shift4 Payments, Inc. Class A 0.2%

Value ($000) $11,369 Shares 180,550 Est. Cost $67.24 Unrealized +5.1%

AOS A. O. Smith Corporation 0.5%

Value ($000) $26,131 Shares 390,718 Est. Cost $71.04 Unrealized -5.1%

ITW Illinois Tool Works Inc. 0.8%

Value ($000) $43,205 Shares 175,415 Est. Cost $188.28 Unrealized +31.5%

MTD Mettler-Toledo International Inc. 0.4%

Value ($000) $21,121 Shares 15,149 Est. Cost $747.29 Unrealized +86.9%

DORM Dorman Products, Inc. 0.2%

Value ($000) $9,225 Shares 74,884 Est. Cost $60.04 Unrealized +124.8%

IIIV i3 Verticals, Inc. Class A 0.1%

Value ($000) $8,347 Shares 331,348 Est. Cost $19.23 Unrealized +46.4%

CDW CDW Corporation 0.2%

Value ($000) $13,535 Shares 99,375 Est. Cost $49.07 Unrealized +199.6%

DT Dynatrace, Inc. 0.3%

Value ($000) $19,226 Shares 443,613 Est. Cost $43.00 Unrealized +8.4%

IEX IDEX Corporation 0.4%

Value ($000) $23,583 Shares 132,533 Est. Cost $109.87 Unrealized +55.4%

CERT Certara, Inc. 0.1%

Value ($000) $5,010 Shares 568,695 Est. Cost $12.41 Unrealized -17.0%

SNY Sanofi Sponsored ADR 1.3%

Value ($000) $72,702 Shares 1,500,255 Est. Cost $48.74 Unrealized —

RJF Raymond James Financial, Inc. 0.4%

Value ($000) $24,854 Shares 154,765 Est. Cost $51.52 Unrealized +212.3%

JKHY Jack Henry & Associates, Inc. 0.2%

Value ($000) $10,071 Shares 55,187 Est. Cost $148.04 Unrealized +12.3%

ESTC Elastic NV 0.3%

Value ($000) $15,222 Shares 201,771 Est. Cost $79.01 Unrealized +3.3%

V Visa Inc. Class A 1.2%

Value ($000) $68,758 Shares 196,055 Est. Cost $75.05 Unrealized +353.5%

JPM JPMorgan Chase & Co. 1.4%

Value ($000) $80,101 Shares 248,590 Est. Cost $87.48 Unrealized +253.8%

KNX Knight-Swift Transportation Holdings Inc. Class A 0.1%

Value ($000) $6,888 Shares 131,755 Est. Cost $53.96 Unrealized -13.3%

ATR AptarGroup, Inc. 0.3%

Value ($000) $17,053 Shares 139,825 Est. Cost $80.28 Unrealized +53.1%

ODFL Old Dominion Freight Line, Inc. 0.3%

Value ($000) $14,982 Shares 95,550 Est. Cost $125.59 Unrealized +14.0%

FICO Fair Isaac Corporation 0.2%

Value ($000) $13,236 Shares 7,829 Est. Cost $1503.82 Unrealized +14.5%

BSX Boston Scientific Corporation 1.0%

Value ($000) $59,800 Shares 627,158 Est. Cost $29.07 Unrealized +237.2%

ONTO Onto Innovation, Inc. 0.1%

Value ($000) $7,233 Shares 45,821 Est. Cost $78.44 Unrealized +81.1%

NDSN Nordson Corporation 0.4%

Value ($000) $22,630 Shares 94,125 Est. Cost $95.06 Unrealized +146.5%

HOLX Hologic, Inc. 0.2%

Value ($000) $12,543 Shares 168,385 Est. Cost $53.43 Unrealized +36.7%

RBA RB Global, Inc. 0.4%

Value ($000) $21,694 Shares 210,888 Est. Cost $62.32 Unrealized +63.0%

OLLI Ollie's Bargain Outlet Holdings Inc 0.1%

Value ($000) $6,765 Shares 61,720 Est. Cost $60.39 Unrealized +99.7%

HLT Hilton Worldwide Holdings Inc. 0.2%

Value ($000) $11,481 Shares 39,970 Est. Cost $237.69 Unrealized +14.5%

TENB Tenable Holdings, Inc. 0.1%

Value ($000) $4,527 Shares 192,387 Est. Cost $42.21 Unrealized -35.3%

JNJ Johnson & Johnson 0.2%

Value ($000) $10,263 Shares 49,590 Est. Cost $114.31 Unrealized +72.3%

EVTC EVERTEC, Inc. 0.1%

Value ($000) $6,288 Shares 216,145 Est. Cost $26.93 Unrealized +10.3%

USB U.S. Bancorp 0.2%

Value ($000) $10,563 Shares 197,965 Est. Cost $41.76 Unrealized +16.7%

PCTY Paylocity Holding Corp. 0.4%

Value ($000) $21,888 Shares 143,528 Est. Cost $109.44 Unrealized +36.0%

WING Wingstop, Inc. 0.3%

Value ($000) $17,538 Shares 73,537 Est. Cost $306.29 Unrealized -19.1%

RSG Republic Services, Inc. 0.2%

Value ($000) $10,925 Shares 51,552 Est. Cost $80.73 Unrealized +165.8%

CPAY Corpay, Inc. 0.4%

Value ($000) $21,343 Shares 70,925 Est. Cost $286.94 Unrealized +1.2%

MDLZ Mondelez International, Inc. Class A 0.1%

Value ($000) $5,381 Shares 99,966 Est. Cost $39.89 Unrealized +43.0%

BLK BlackRock, Inc. 0.2%

Value ($000) $9,065 Shares 8,469 Est. Cost $847.33 Unrealized +28.6%

ROK Rockwell Automation, Inc. 0.1%

Value ($000) $7,642 Shares 19,641 Est. Cost $275.15 Unrealized +36.4%

ABT Abbott Laboratories 0.2%

Value ($000) $11,151 Shares 88,998 Est. Cost $64.84 Unrealized +96.3%

CSCO Cisco Systems, Inc. 0.1%

Value ($000) $6,882 Shares 89,340 Est. Cost $24.17 Unrealized +205.3%

BWIN Baldwin Insurance Group, Inc. Class A 0.1%

Value ($000) $4,448 Shares 185,110 Est. Cost $26.85 Unrealized -5.2%

CB Chubb Limited 0.1%

Value ($000) $7,936 Shares 25,425 Est. Cost $96.90 Unrealized +201.8%

AON Aon Plc Class A 1.1%

Value ($000) $64,013 Shares 181,402 Est. Cost $178.56 Unrealized +95.5%

DSGX Descartes Systems Group Inc. 0.2%

Value ($000) $8,891 Shares 101,425 Est. Cost $15.88 Unrealized +462.9%

ICFI ICF International, Inc. 0.1%

Value ($000) $7,192 Shares 84,320 Est. Cost $41.16 Unrealized +106.2%

APD Air Products and Chemicals, Inc. 0.1%

Value ($000) $5,903 Shares 23,897 Est. Cost $241.61 Unrealized +4.2%

LZB La-Z-Boy Incorporated 0.1%

Value ($000) $7,439 Shares 199,599 Est. Cost $26.39 Unrealized +32.8%

WBS Webster Financial Corporation 0.2%

Value ($000) $9,533 Shares 151,469 Est. Cost $36.75 Unrealized +61.5%

POWI Power Integrations, Inc. 0.1%

Value ($000) $3,933 Shares 110,655 Est. Cost $55.86 Unrealized -32.4%

SCHW Charles Schwab Corp 0.2%

Value ($000) $11,436 Shares 114,467 Est. Cost $37.92 Unrealized +149.8%

GDYN Grid Dynamics Holdings, Inc. Class A 0.1%

Value ($000) $3,472 Shares 384,446 Est. Cost $15.15 Unrealized -42.8%

DPZ Domino's Pizza, Inc. 0.2%

Value ($000) $13,861 Shares 33,255 Est. Cost $262.47 Unrealized +58.3%

NEE NextEra Energy, Inc. 0.1%

Value ($000) $8,341 Shares 103,895 Est. Cost $65.83 Unrealized +25.3%

TRU TransUnion 0.4%

Value ($000) $21,874 Shares 255,088 Est. Cost $44.00 Unrealized +86.6%

CNS Cohen & Steers, Inc. 0.2%

Value ($000) $11,115 Shares 177,043 Est. Cost $36.18 Unrealized +79.0%

PG Procter & Gamble Company 0.1%

Value ($000) $6,690 Shares 46,683 Est. Cost $69.07 Unrealized +113.1%

UFPT UFP Technologies, Inc. 0.1%

Value ($000) $4,618 Shares 20,801 Est. Cost $45.08 Unrealized +375.2%

NVO Novo Nordisk A/S Sponsored ADR Class B 0.1%

Value ($000) $4,624 Shares 90,890 Est. Cost $55.49 Unrealized —

PNC PNC Financial Services Group, Inc. 0.2%

Value ($000) $11,052 Shares 52,950 Est. Cost $69.40 Unrealized +177.8%

EXLS ExlService Holdings, Inc. 0.2%

Value ($000) $9,717 Shares 228,961 Est. Cost $25.48 Unrealized +60.5%

MOD Modine Manufacturing Company 0.1%

Value ($000) $5,373 Shares 40,245 Est. Cost $100.54 Unrealized +48.2%

IBM International Business Machines Corporation 0.1%

Value ($000) $6,998 Shares 23,626 Est. Cost $102.12 Unrealized +192.6%

BL BlackLine, Inc. 0.1%

Value ($000) $7,845 Shares 141,890 Est. Cost $56.29 Unrealized -2.2%

CSV Carriage Services Inc. 0.1%

Value ($000) $5,639 Shares 133,310 Est. Cost $20.14 Unrealized +114.8%

MRTN Marten Transport, Ltd. 0.1%

Value ($000) $4,538 Shares 398,744 Est. Cost $10.53 Unrealized +0.3%

LII Lennox International Inc. 0.1%

Value ($000) $3,205 Shares 6,600 Est. Cost $209.23 Unrealized +138.8%

NOMD Nomad Foods Ltd. 0.1%

Value ($000) $5,351 Shares 427,777 Est. Cost $18.33 Unrealized -33.4%

SPXC SPX Technologies, Inc. 0.1%

Value ($000) $3,963 Shares 19,810 Est. Cost $167.68 Unrealized —

UNH UnitedHealth Group Incorporated 0.1%

Value ($000) $5,462 Shares 16,547 Est. Cost $279.16 Unrealized +20.8%

MA Mastercard Incorporated Class A 1.2%

Value ($000) $68,991 Shares 120,850 Est. Cost $95.72 Unrealized +483.9%

NXRT NexPoint Residential Trust, Inc. 0.1%

Value ($000) $3,340 Shares 110,965 Est. Cost $41.43 Unrealized —

CVX Chevron Corporation 0.2%

Value ($000) $12,196 Shares 80,020 Est. Cost $107.71 Unrealized +40.6%

SITE SiteOne Landscape Supply, Inc. 0.1%

Value ($000) $5,989 Shares 48,082 Est. Cost $129.15 Unrealized -2.0%

EQIX Equinix, Inc. 0.1%

Value ($000) $8,259 Shares 10,780 Est. Cost $418.97 Unrealized +86.5%

MUSA Murphy USA, Inc. 0.1%

Value ($000) $3,285 Shares 8,140 Est. Cost $64.25 Unrealized +496.6%

LECO Lincoln Electric Holdings, Inc. 0.1%

Value ($000) $7,529 Shares 31,420 Est. Cost $122.19 Unrealized +93.8%

ABBV AbbVie, Inc. 0.2%

Value ($000) $8,848 Shares 38,725 Est. Cost $104.87 Unrealized +117.0%

PBH Prestige Consumer Healthcare Inc 0.2%

Value ($000) $9,356 Shares 151,655 Est. Cost $36.94 Unrealized +65.7%

EPD Enterprise Products Partners L.P. 0.1%

Value ($000) $3,818 Shares 119,100 Est. Cost $26.38 Unrealized —

NVDA NVIDIA Corporation 3.8%

Value ($000) $216,014 Shares 1,158,250 Est. Cost $104.32 Unrealized +78.4%

COP ConocoPhillips 0.1%

Value ($000) $6,650 Shares 71,036 Est. Cost $67.35 Unrealized +33.7%

TTEK Tetra Tech, Inc. 0.1%

Value ($000) $7,187 Shares 214,275 Est. Cost $41.36 Unrealized -18.2%

QLYS Qualys, Inc. 0.1%

Value ($000) $6,320 Shares 47,551 Est. Cost $85.95 Unrealized +60.1%

QTWO Q2 Holdings, Inc. 0.2%

Value ($000) $9,875 Shares 136,846 Est. Cost $37.07 Unrealized +85.2%

WK Workiva Inc. Class A 0.1%

Value ($000) $6,979 Shares 80,916 Est. Cost $78.33 Unrealized +13.0%

EXPO Exponent, Inc. 0.1%

Value ($000) $6,336 Shares 91,225 Est. Cost $56.64 Unrealized +23.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ZS	Zscaler, Inc.	262,697	$59,086	1.0%	$213.70	+32.1%	COM	98980G102
MSFT	Microsoft Corporation	442,427	$213,967	3.7%	$29.91	+1573.7%	COM	594918104
TMO	Thermo Fisher Scientific Inc.	159,968	$92,693	1.6%	$143.40	+294.1%	COM	883556102
HD	Home Depot, Inc.	239,708	$82,484	1.4%	$105.64	+245.1%	COM	437076102
AMZN	Amazon.com, Inc.	873,554	$201,634	3.5%	$129.94	+76.1%	COM	023135106
CRM	Salesforce, Inc.	271,530	$71,931	1.3%	$168.81	+47.0%	COM	79466L302
WDAY	Workday, Inc. Class A	282,015	$60,571	1.1%	$157.58	+44.2%	CL A	98138H101
CARR	Carrier Global Corp.	922,625	$48,752	0.9%	$67.32	-17.5%	COM	14448C104
SPGI	S&P Global, Inc.	165,540	$86,510	1.5%	$174.07	+183.9%	COM	78409V104
COST	Costco Wholesale Corporation	88,276	$76,124	1.3%	$277.85	+226.0%	COM	22160K105
FTV	Fortive Corp.	894,425	$49,381	0.9%	$32.36	+60.3%	COM	34959J108
CDNS	Cadence Design Systems, Inc.	136,146	$42,557	0.7%	$137.89	+136.7%	COM	127387108
MDB	MongoDB, Inc. Class A	41,925	$17,596	0.3%	$263.57	+38.0%	CL A	60937P106
SHW	Sherwin-Williams Company	203,220	$65,849	1.2%	$229.03	+45.9%	COM	824348106
CTAS	Cintas Corporation	260,491	$48,991	0.9%	$137.48	+36.8%	COM	172908105
PANW	Palo Alto Networks, Inc.	223,650	$41,196	0.7%	$121.73	+65.7%	COM	697435105
ROP	Roper Technologies, Inc.	80,375	$35,777	0.6%	$346.53	+33.4%	COM	776696106
STVN	Stevanato Group SpA	745,204	$14,994	0.3%	$20.06	+15.8%	ORD SHS	T9224W109
CSGP	CoStar Group, Inc.	214,249	$14,406	0.3%	$80.84	-12.4%	COM	22160N109
TDY	Teledyne Technologies Incorporated	44,204	$22,576	0.4%	$376.48	+40.0%	COM	879360105
SYK	Stryker Corporation	164,677	$57,879	1.0%	$279.60	+30.0%	COM	863667101
FOUR	Shift4 Payments, Inc. Class A	180,550	$11,369	0.2%	$67.24	+5.1%	CL A	82452J109
AOS	A. O. Smith Corporation	390,718	$26,131	0.5%	$71.04	-5.1%	COM	831865209
ITW	Illinois Tool Works Inc.	175,415	$43,205	0.8%	$188.28	+31.5%	COM	452308109
MTD	Mettler-Toledo International Inc.	15,149	$21,121	0.4%	$747.29	+86.9%	COM	592688105
DORM	Dorman Products, Inc.	74,884	$9,225	0.2%	$60.04	+124.8%	COM	258278100
IIIV	i3 Verticals, Inc. Class A	331,348	$8,347	0.1%	$19.23	+46.4%	COM CL A	46571Y107
CDW	CDW Corporation	99,375	$13,535	0.2%	$49.07	+199.6%	COM	12514G108
DT	Dynatrace, Inc.	443,613	$19,226	0.3%	$43.00	+8.4%	COM NEW	268150109
IEX	IDEX Corporation	132,533	$23,583	0.4%	$109.87	+55.4%	COM	45167R104
CERT	Certara, Inc.	568,695	$5,010	0.1%	$12.41	-17.0%	COM	15687V109
SNY	Sanofi Sponsored ADR	1,500,255	$72,702	1.3%	$48.74	—	SPONSORED ADR	80105N105
RJF	Raymond James Financial, Inc.	154,765	$24,854	0.4%	$51.52	+212.3%	COM	754730109
JKHY	Jack Henry & Associates, Inc.	55,187	$10,071	0.2%	$148.04	+12.3%	COM	426281101
ESTC	Elastic NV	201,771	$15,222	0.3%	$79.01	+3.3%	ORD SHS	N14506104
V	Visa Inc. Class A	196,055	$68,758	1.2%	$75.05	+353.5%	COM CL A	92826C839
JPM	JPMorgan Chase & Co.	248,590	$80,101	1.4%	$87.48	+253.8%	COM	46625H100
KNX	Knight-Swift Transportation Holdings Inc. Class A	131,755	$6,888	0.1%	$53.96	-13.3%	CL A	499049104
ATR	AptarGroup, Inc.	139,825	$17,053	0.3%	$80.28	+53.1%	COM	038336103
ODFL	Old Dominion Freight Line, Inc.	95,550	$14,982	0.3%	$125.59	+14.0%	COM	679580100
FICO	Fair Isaac Corporation	7,829	$13,236	0.2%	$1503.82	+14.5%	COM	303250104
BSX	Boston Scientific Corporation	627,158	$59,800	1.0%	$29.07	+237.2%	COM	101137107
ONTO	Onto Innovation, Inc.	45,821	$7,233	0.1%	$78.44	+81.1%	COM	683344105
NDSN	Nordson Corporation	94,125	$22,630	0.4%	$95.06	+146.5%	COM	655663102
HOLX	Hologic, Inc.	168,385	$12,543	0.2%	$53.43	+36.7%	COM	436440101
RBA	RB Global, Inc.	210,888	$21,694	0.4%	$62.32	+63.0%	COM	74935Q107
OLLI	Ollie's Bargain Outlet Holdings Inc	61,720	$6,765	0.1%	$60.39	+99.7%	COM	681116109
HLT	Hilton Worldwide Holdings Inc.	39,970	$11,481	0.2%	$237.69	+14.5%	COM	43300A203
TENB	Tenable Holdings, Inc.	192,387	$4,527	0.1%	$42.21	-35.3%	COM	88025T102
JNJ	Johnson & Johnson	49,590	$10,263	0.2%	$114.31	+72.3%	COM	478160104
EVTC	EVERTEC, Inc.	216,145	$6,288	0.1%	$26.93	+10.3%	COM	30040P103
USB	U.S. Bancorp	197,965	$10,563	0.2%	$41.76	+16.7%	COM NEW	902973304
PCTY	Paylocity Holding Corp.	143,528	$21,888	0.4%	$109.44	+36.0%	COM	70438V106
WING	Wingstop, Inc.	73,537	$17,538	0.3%	$306.29	-19.1%	COM	974155103
RSG	Republic Services, Inc.	51,552	$10,925	0.2%	$80.73	+165.8%	COM	760759100
CPAY	Corpay, Inc.	70,925	$21,343	0.4%	$286.94	+1.2%	COM SHS	219948106
MDLZ	Mondelez International, Inc. Class A	99,966	$5,381	0.1%	$39.89	+43.0%	CL A	609207105
BLK	BlackRock, Inc.	8,469	$9,065	0.2%	$847.33	+28.6%	COM	09290D101
ROK	Rockwell Automation, Inc.	19,641	$7,642	0.1%	$275.15	+36.4%	COM	773903109
ABT	Abbott Laboratories	88,998	$11,151	0.2%	$64.84	+96.3%	COM	002824100
CSCO	Cisco Systems, Inc.	89,340	$6,882	0.1%	$24.17	+205.3%	COM	17275R102
BWIN	Baldwin Insurance Group, Inc. Class A	185,110	$4,448	0.1%	$26.85	-5.2%	COM CL A	05589G102
CB	Chubb Limited	25,425	$7,936	0.1%	$96.90	+201.8%	COM	H1467J104
AON	Aon Plc Class A	181,402	$64,013	1.1%	$178.56	+95.5%	SHS CL A	G0403H108
DSGX	Descartes Systems Group Inc.	101,425	$8,891	0.2%	$15.88	+462.9%	COM	249906108
ICFI	ICF International, Inc.	84,320	$7,192	0.1%	$41.16	+106.2%	COM	44925C103
APD	Air Products and Chemicals, Inc.	23,897	$5,903	0.1%	$241.61	+4.2%	COM	009158106
LZB	La-Z-Boy Incorporated	199,599	$7,439	0.1%	$26.39	+32.8%	COM	505336107
WBS	Webster Financial Corporation	151,469	$9,533	0.2%	$36.75	+61.5%	COM	947890109
POWI	Power Integrations, Inc.	110,655	$3,933	0.1%	$55.86	-32.4%	COM	739276103
SCHW	Charles Schwab Corp	114,467	$11,436	0.2%	$37.92	+149.8%	COM	808513105
GDYN	Grid Dynamics Holdings, Inc. Class A	384,446	$3,472	0.1%	$15.15	-42.8%	CL A	39813G109
DPZ	Domino's Pizza, Inc.	33,255	$13,861	0.2%	$262.47	+58.3%	COM	25754A201
NEE	NextEra Energy, Inc.	103,895	$8,341	0.1%	$65.83	+25.3%	COM	65339F101
TRU	TransUnion	255,088	$21,874	0.4%	$44.00	+86.6%	COM	89400J107
CNS	Cohen & Steers, Inc.	177,043	$11,115	0.2%	$36.18	+79.0%	COM	19247A100
PG	Procter & Gamble Company	46,683	$6,690	0.1%	$69.07	+113.1%	COM	742718109
UFPT	UFP Technologies, Inc.	20,801	$4,618	0.1%	$45.08	+375.2%	COM	902673102
NVO	Novo Nordisk A/S Sponsored ADR Class B	90,890	$4,624	0.1%	$55.49	—	ADR	670100205
PNC	PNC Financial Services Group, Inc.	52,950	$11,052	0.2%	$69.40	+177.8%	COM	693475105
EXLS	ExlService Holdings, Inc.	228,961	$9,717	0.2%	$25.48	+60.5%	COM	302081104
MOD	Modine Manufacturing Company	40,245	$5,373	0.1%	$100.54	+48.2%	COM	607828100
IBM	International Business Machines Corporation	23,626	$6,998	0.1%	$102.12	+192.6%	COM	459200101
BL	BlackLine, Inc.	141,890	$7,845	0.1%	$56.29	-2.2%	COM	09239B109
CSV	Carriage Services Inc.	133,310	$5,639	0.1%	$20.14	+114.8%	COM	143905107
MRTN	Marten Transport, Ltd.	398,744	$4,538	0.1%	$10.53	+0.3%	COM	573075108
LII	Lennox International Inc.	6,600	$3,205	0.1%	$209.23	+138.8%	COM	526107107
NOMD	Nomad Foods Ltd.	427,777	$5,351	0.1%	$18.33	-33.4%	USD ORD SHS	G6564A105
SPXC	SPX Technologies, Inc.	19,810	$3,963	0.1%	$167.68	—	COM	78473E103
UNH	UnitedHealth Group Incorporated	16,547	$5,462	0.1%	$279.16	+20.8%	COM	91324P102
MA	Mastercard Incorporated Class A	120,850	$68,991	1.2%	$95.72	+483.9%	CL A	57636Q104
NXRT	NexPoint Residential Trust, Inc.	110,965	$3,340	0.1%	$41.43	—	COM	65341D102
CVX	Chevron Corporation	80,020	$12,196	0.2%	$107.71	+40.6%	COM	166764100
SITE	SiteOne Landscape Supply, Inc.	48,082	$5,989	0.1%	$129.15	-2.0%	COM	82982L103
EQIX	Equinix, Inc.	10,780	$8,259	0.1%	$418.97	+86.5%	COM	29444U700
MUSA	Murphy USA, Inc.	8,140	$3,285	0.1%	$64.25	+496.6%	COM	626755102
LECO	Lincoln Electric Holdings, Inc.	31,420	$7,529	0.1%	$122.19	+93.8%	COM	533900106
ABBV	AbbVie, Inc.	38,725	$8,848	0.2%	$104.87	+117.0%	COM	00287Y109
PBH	Prestige Consumer Healthcare Inc	151,655	$9,356	0.2%	$36.94	+65.7%	COM	74112D101
EPD	Enterprise Products Partners L.P.	119,100	$3,818	0.1%	$26.38	—	COM	293792107
NVDA	NVIDIA Corporation	1,158,250	$216,014	3.8%	$104.32	+78.4%	COM	67066G104
COP	ConocoPhillips	71,036	$6,650	0.1%	$67.35	+33.7%	COM	20825C104
TTEK	Tetra Tech, Inc.	214,275	$7,187	0.1%	$41.36	-18.2%	COM	88162G103
QLYS	Qualys, Inc.	47,551	$6,320	0.1%	$85.95	+60.1%	COM	74758T303
QTWO	Q2 Holdings, Inc.	136,846	$9,875	0.2%	$37.07	+85.2%	COM	74736L109
WK	Workiva Inc. Class A	80,916	$6,979	0.1%	$78.33	+13.0%	COM CL A	98139A105
EXPO	Exponent, Inc.	91,225	$6,336	0.1%	$56.64	+23.7%	COM	30214U102