Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CGNX	Cognex	1,067,689	$89.63M	6.3%	$22.26	+52.9%	COM	192422103
IDXX	IDEXX Laboratories	572,685	$88.54M	6.3%	$59.48	+131.7%	COM	45168D104
MANH	Manhattan Associates	1,362,944	$70.94M	5.0%	$60.05	-16.0%	COM	562750109
ICLR	ICON PLC	829,900	$66.16M	4.7%	$37.15	+120.4%	COM	G4705A100
GNTX	Gentex	2,343,827	$49.99M	3.5%	$17.28	+21.5%	COM	371901109
HOLX	Hologic	1,156,264	$49.2M	3.5%	$37.75	+8.0%	COM	436440101
—	HMS Holdings	2,366,068	$48.1M	3.4%	$18.31	—	COM	40425J101
RMD	ResMed	662,390	$47.67M	3.4%	$59.94	+5.0%	COM	761152107
FDS	FactSet Research System	270,389	$44.59M	3.1%	$155.39	+2.8%	COM	303075105
ILMN	Illumina	246,450	$42.05M	3.0%	$159.49	-1.2%	COM	452327109
SEIC	SEI Investments	825,760	$41.65M	2.9%	$41.69	+8.2%	COM	784117103
—	Advisory Board	814,321	$38.11M	2.7%	$45.45	—	COM	00762W107
NICE	NICE	540,582	$36.75M	2.6%	$66.97	—	COM	653656108
JKHY	Jack Henry & Associates	382,023	$35.57M	2.5%	$78.38	+5.8%	COM	426281101
AVAV	AeroVironment	1,170,308	$32.8M	2.3%	$26.82	-0.5%	COM	008073108
—	Verint Systems	752,705	$32.65M	2.3%	$46.36	—	COM	92343x100
FTNT	Fortinet	791,850	$30.37M	2.1%	$6.87	+3.0%	COM	34959E109
—	Albany Molecular Research	2,157,370	$30.27M	2.1%	$15.62	—	COM	012423109
—	Gigamon	832,220	$29.59M	2.1%	$39.92	—	COM	37518B102
—	NuVasive Conv Sr Notes	16,065,000	$28.46M	2.0%	$0.99	—	CONV	670704AC9
—	Tivity Health	892,635	$25.98M	1.8%	$22.75	—	COM	88870R102
ZBRA	Zebra Technologies	279,130	$25.47M	1.8%	$61.48	+41.0%	COM	989207105
TRMB	Trimble	792,887	$25.38M	1.8%	$26.75	+15.6%	COM	896239100
DORM	Dorman Products	306,640	$25.18M	1.8%	$61.53	+20.7%	COM	258278100
—	Cambrex	451,888	$24.88M	1.8%	$46.96	—	COM	132011107
—	ANSYS	215,822	$23.07M	1.6%	$83.19	—	COM	03662Q105
HAE	Haemonetics	533,796	$21.66M	1.5%	$34.33	+13.8%	COM	405024100
—	Mednax	293,210	$20.34M	1.4%	$69.87	—	COM	58502b106
—	Medidata Solutions	344,791	$19.89M	1.4%	$46.65	—	COM	58471A105
BLKB	Blackbaud	257,260	$19.72M	1.4%	$46.86	+48.7%	COM	09227Q100
FELE	Franklin Electric	453,105	$19.51M	1.4%	$34.41	+8.2%	COM	353514102
IPGP	IPG Photonic	143,810	$17.36M	1.2%	$81.87	+38.2%	COM	44980X109
MORN	Morningstar	206,921	$16.26M	1.1%	$82.14	-5.3%	COM	617700109
FORR	Forrester Research	406,652	$16.16M	1.1%	$37.89	+0.1%	COM	346563109
HCSG	Healthcare Services Grp	327,204	$14.1M	1.0%	$39.87	+3.1%	COM	421906108
CRL	Charles River Labs	147,900	$13.3M	0.9%	$83.83	+1.3%	COM	159864107
—	CyberArk Software	238,950	$12.15M	0.9%	$48.65	—	COM	M2682V108
—	Acxiom	388,500	$11.06M	0.8%	$26.65	—	COM	005125109
CSGP	Costar Group	45,313	$9.39M	0.7%	$19.43	+4.6%	COM	22160N109
FAST	Fastenal	166,697	$8.585M	0.6%	$8.32	+19.4%	COM	311900104
ACIW	ACI Worldwide	398,000	$8.513M	0.6%	$18.98	+6.9%	COM	004498101
MMSI	Merit Medical Systems	280,450	$8.105M	0.6%	$23.10	+21.2%	COM	589889104
—	Albany Molecular Research Conv	6,400,000	$6.964M	0.5%	$1.09	—	CONV	012423AB5
PRLB	Proto Labs	128,536	$6.568M	0.5%	$56.83	-6.8%	COM	743713109
HURN	Huron Consulting Grp	128,758	$5.421M	0.4%	$61.80	-28.7%	COM	447462102
—	Ritchie Bros. Auctioneers	143,447	$4.719M	0.3%	$35.07	—	COM	767744105
PAYX	Paychex	72,134	$4.249M	0.3%	$45.34	+3.0%	COM	704326107
AZO	Autozone	5,844	$4.226M	0.3%	$778.43	-4.9%	COM	053332102
FFIV	F5 Networks	29,045	$4.141M	0.3%	$123.21	+15.8%	COM	315616102
CVLT	CommVault Systems	80,000	$4.064M	0.3%	$50.26	+1.6%	COM	204166102
—	Abaxis	80,000	$3.88M	0.3%	$51.63	—	COM	002567105
—	Capella Education	43,730	$3.718M	0.3%	$62.73	—	COM	139594105
—	Envestnet Conv Sr Unsecd Note	4,000,000	$3.718M	0.3%	$0.88	—	CONV	29404KAA4
HD	Home Depot	24,686	$3.625M	0.3%	$106.34	+7.6%	COM	437076102
—	WebMD Health Conv Sr Notes	3,555,000	$3.608M	0.3%	$0.93	—	CONV	94770VAF9
—	Forward Air	74,395	$3.539M	0.2%	$43.26	—	COM	349853101
KWR	Quaker Chemical	24,000	$3.16M	0.2%	$97.60	+34.0%	COM	747316107
GILD	Gilead Sciences	43,936	$2.984M	0.2%	$57.78	-12.3%	COM	375558103
—	National Instruments	87,765	$2.858M	0.2%	$28.74	—	COM	636518102
—	ComScore	129,508	$2.796M	0.2%	$28.97	—	COM	20564W105
LNN	Lindsay Manufacturing	30,205	$2.662M	0.2%	$63.29	+11.3%	COM	535555106
—	CEB	32,455	$2.551M	0.2%	$54.47	—	COM	125134106
—	Federal Realty Invt Tr	15,048	$2.009M	0.1%	$153.94	—	COM	313747206
GOOGL	Alphabet Class A	2,342	$1.986M	0.1%	$36.72	+13.6%	COM	02079K305
ECL	Ecolab	13,713	$1.719M	0.1%	$108.98	+1.9%	COM	278865100
—	Aspen Technology	24,885	$1.466M	0.1%	$46.79	—	COM	045327103
SPY	Spdr S&P 500 Series 1	5,770	$1.36M	0.1%	$223.57	—	COM	78462F103
—	Wright Medical Group N.V.	43,329	$1.348M	0.1%	$21.48	—	COM	N96617118
—	Stericycle	15,275	$1.266M	0.1%	$77.05	—	COM	858912108
—	VCA Antech	12,800	$1.171M	0.1%	$70.00	—	COM	918194101
GOOG	Alphabet Class C	1,247	$1.034M	0.1%	$35.69	+14.1%	COM	02079K107
TBRG	Computer Programs & Systems	35,220	$986K	0.1%	$28.83	-18.5%	COM	205306103
TECH	Bio Techne	9,285	$944K	0.1%	$21.85	+12.4%	COM	09073M104
—	Genesee & Wyoming Class A	8,100	$550K	0.0%	$68.98	—	COM	371559105
—	NuVasive	6,950	$519K	0.0%	$66.62	—	COM	670704105
AAPL	Apple	2,625	$377K	0.0%	$24.29	+25.3%	COM	037833100
—	ID Systems	47,500	$301K	0.0%	$4.94	—	COM	449489103
BRK/B	Berkshire Hathaway New Cl B	1,740	$290K	0.0%	$146.73	+14.0%	COM	084670702
—	Meridian Bioscience	16,760	$231K	0.0%	$19.29	—	COM	589584101
GHM	Graham	9,750	$224K	0.0%	$16.68	+22.3%	COM	384556106
XOM	Exxon Mobil	2,710	$222K	0.0%	$51.39	+9.2%	COM	30231G102