Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GOOG	Alphabet Inc. Class C	21,935	$5.342M	3.5%	$243.55 *	$113.23	+85.4%	COM	02079K107
KLAC	KLA Corp.	3,496	$3.771M	2.5%	$1078.58 *	$501.52	+85.5%	COM	482480100
META	Meta Platforms, Inc.	4,500	$3.305M	2.2%	$734.46	$326.40	+127.7%	COM	30303M102
NVS	Novartis AG ADR	25,499	$3.27M	2.1%	$128.24	$97.36	—	ADR	66987V109
CMI	Cummins Inc.	7,286	$3.077M	2.0%	$422.36 *	$143.58	+165.1%	COM	231021106
SNA	Snap-on Inc.	8,809	$3.053M	2.0%	$346.53 *	$142.24	+127.7%	COM	833034101
PAC	Grupo Aeroportuario Del Pacifi	11,657	$2.765M	1.8%	$237.19	$106.67	—	ADR	400506101
LRCX	Lam Research Corp.	20,496	$2.744M	1.8%	$133.90 *	$77.56	+36.1%	COM	512807306
ITT	ITT Corp.	15,180	$2.714M	1.8%	$178.76 *	$45.94	+265.2%	COM	45073V108
—	Schneider Electric SA	9,528	$2.656M	1.7%	$278.81	$96.42	—	COM	483410007
PH	Parker Hannifin Corp.	3,483	$2.641M	1.7%	$758.19 *	$143.26	+413.1%	COM	701094104
LIN	Linde PLC	5,315	$2.525M	1.6%	$475.04	$335.70	+40.2%	COM	G54950103
ADP	Automatic Data Processing, Inc	8,036	$2.359M	1.5%	$293.51	$81.59	+265.0%	COM	053015103
HUBB	Hubbell Inc.	5,381	$2.316M	1.5%	$430.35	$105.94	+304.2%	COM	443510607
—	Dollarama Inc.	17,449	$2.301M	1.5%	$131.85	$44.55	—	COM	25675T958
MCD	McDonald's Corp.	7,561	$2.298M	1.5%	$303.87	$142.73	+111.2%	COM	580135101
FISV	Fiserv Inc.	17,502	$2.257M	1.5%	$128.93 *	$76.55	+87.2%	COM	337738108
TMTNF	Toromont Industries Ltd.	19,694	$2.186M	1.4%	$111.01 *	$84.70	+19.8%	COM	891102105
TSM	Taiwan Semiconductor Manufactu	7,751	$2.165M	1.4%	$279.29	$108.30	—	ADR	874039100
SKT	Tanger Factory Outlet Centers,	63,905	$2.163M	1.4%	$33.84	$7.05	—	COM	875465106
GGG	Graco Inc.	25,372	$2.156M	1.4%	$84.96	$41.15	+106.4%	COM	384109104
SHW	Sherwin-Williams Co.	6,168	$2.136M	1.4%	$346.24	$165.28	+112.6%	COM	824348106
ATO	Atmos Energy Corp.	12,317	$2.103M	1.4%	$170.75 *	$100.50	+59.2%	COM	049560105
GWW	W.W. Grainger, Inc.	2,148	$2.047M	1.3%	$953.13 *	$253.16	+295.3%	COM	384802104
WTFC	Wintrust Financial Corp.	14,609	$1.935M	1.3%	$132.44	$126.97	+4.0%	COM	97650W108
PLBC	Plumas Bancorp	44,778	$1.932M	1.3%	$43.14	$42.94	+0.7%	COM	729273102
ETN	Eaton Corp. PLC	5,136	$1.922M	1.3%	$374.26 *	$221.90	+63.7%	COM	G29183103
FAST	Fastenal Co.	36,972	$1.813M	1.2%	$49.04 *	$29.94	+56.8%	COM	311900104
NSC	Norfolk & Southern Corp.	5,804	$1.744M	1.1%	$300.40 *	$77.07	+258.2%	COM	655844108
CLMB	Climb Global Solutions Inc.	12,883	$1.737M	1.1%	$134.84 *	$23.04	+413.9%	COM	946760105
EMR	Emerson Electric Co.	13,064	$1.714M	1.1%	$131.18 *	$64.97	+108.5%	COM	291011104
KMI	Kinder Morgan, Inc.	58,617	$1.659M	1.1%	$28.31 *	$14.53	+85.6%	COM	49456B101
CPK	Chesapeake Utilities Corp.	12,205	$1.644M	1.1%	$134.69 *	$56.04	+119.5%	COM	165303108
PBA	Pembina Pipeline Corp.	40,018	$1.619M	1.1%	$40.46 *	$23.02	+64.0%	COM	706327103
CME	CME Group Inc.	5,901	$1.594M	1.0%	$270.19	$244.10	+10.6%	COM	12572Q105
LECO	Lincoln Electric Holdings, Inc	6,740	$1.59M	1.0%	$235.84	$107.13	+118.6%	COM	533900106
MTD	Mettler-Toledo International,	1,244	$1.527M	1.0%	$1227.61 *	$432.55	+189.7%	COM	592688105
GRMN	Garmin LTD	6,158	$1.516M	1.0%	$246.21 *	$106.50	+115.1%	COM	H2906T109
MGY	Magnolia Oil & Gas Corp.	61,730	$1.473M	1.0%	$23.87	$15.80	+50.9%	COM	559663109
HON	Honeywell International Inc.	6,915	$1.456M	0.9%	$210.51	$88.65	+133.6%	COM	438516106
ATR	AptarGroup, Inc.	10,232	$1.368M	0.9%	$133.65 *	$67.95	+111.0%	COM	038336103
GVDNY	Givaudan SA ADR	16,594	$1.35M	0.9%	$81.33	$42.51	—	ADR	37636P108
—	Sabre Insurance Group PLC	685,065	$1.338M	0.9%	$1.95	$1.68	—	COM	BYWVDP903
—	Straumann Holdings AG	12,428	$1.325M	0.9%	$106.64	$131.58	—	COM	715683900
WES	Western Midstream Partners, LP	33,615	$1.321M	0.9%	$39.29	$28.25	—	UNIT LTD PARTN	958669103
FBK	FB Financial Corp.	23,517	$1.311M	0.9%	$55.74 *	$23.21	+116.9%	COM	30257X104
—	Gaztransport et Technigaz SAS	6,986	$1.292M	0.8%	$184.93	$71.06	—	COM	ACI07W296
ET	Energy Transfer LP	74,434	$1.277M	0.8%	$17.16	$11.69	—	UNIT LTD PARTN	29273V100
AAPL	Apple Inc.	4,982	$1.269M	0.8%	$254.63 *	$98.52	+129.0%	COM	037833100
—	Banco del Bajio SA	493,257	$1.244M	0.8%	$2.52	$1.78	—	COM	ACI0VM9Y9
EPD	Enterprise Products Partners L	39,052	$1.221M	0.8%	$31.27	$34.20	—	UNIT LTD PARTN	293792107
—	TotalEnergies SE ADR	20,450	$1.221M	0.8%	$59.69	$51.11	—	ADR	89151E109
—	Sparebank 1 SR-Bank	68,531	$1.221M	0.8%	$17.81	$8.27	—	COM	B40JTQ902
AGYS	Agilysys, Inc.	11,540	$1.215M	0.8%	$105.25 *	$24.60	+349.7%	COM	00847J105
IRMD	IRadimed Corp.	17,021	$1.211M	0.8%	$71.16 *	$47.31	+39.7%	COM	46266A109
AVY	Avery Dennison Corp.	7,344	$1.191M	0.8%	$162.17 *	$63.67	+168.1%	COM	053611109
ENB	Enbridge Inc.	22,810	$1.151M	0.7%	$50.46 *	$23.44	+96.7%	COM	29250N105
NGG	National Grid PLC ADS	14,712	$1.069M	0.7%	$72.67	$59.61	—	ADR	636274409
—	Labrador Iron Ore Royalty Corp	52,932	$1.067M	0.7%	$20.15	$15.74	—	COM	505440966
NOW	ServiceNow, Inc.	1,128	$1.038M	0.7%	$920.28 *	$150.62	+24.0%	COM	81762P102
T	AT&T Inc.	36,348	$1.026M	0.7%	$28.24	$16.29	+72.3%	COM	00206R102
ECL	Ecolab, Inc.	3,659	$1.002M	0.7%	$273.83	$159.89	+69.1%	COM	278865100
NDSN	Nordson Corp.	4,274	$970K	0.6%	$226.95 *	$119.75	+82.9%	COM	655663102
PAYX	Paychex, Inc.	7,601	$964K	0.6%	$126.77 *	$42.56	+222.3%	COM	704326107
NBIS	Nebius Group NV	8,495	$954K	0.6%	$112.27 *	$34.43	+101.7%	COM	N97284108
SWKS	Skyworks Solutions Inc.	11,638	$896K	0.6%	$76.98 *	$81.98	-10.7%	COM	83088M102
—	Compagnie Michelin	24,495	$878K	0.6%	$35.84	$29.82	—	COM	BPBPJ0907
—	Commonwealth Bank of Australia	7,540	$833K	0.5%	$110.42	$73.21	—	COM	621503002
BAC	Bank of America Corp.	15,484	$799K	0.5%	$51.59 *	$23.23	+108.1%	COM	060505104
TNC	Tennant Co.	9,802	$795K	0.5%	$81.06	$57.88	+40.4%	COM	880345103
CHRD	Chord Energy Corporation	7,778	$773K	0.5%	$99.37 *	$131.52	-21.7%	COM	674215207
GTBIF	Green Thumb Industries Inc.	94,542	$755K	0.5%	$7.99 *	$15.24	-52.4%	COM	39342L108
CVS	CVS Health Corp.	10,014	$755K	0.5%	$75.39 *	$51.96	+30.5%	COM	126650100
SFL	SFL Corp. LTD	99,432	$749K	0.5%	$7.53 *	$12.31	-30.0%	COM	G7738W106
CHD	Church & Dwight Company, Inc.	8,491	$744K	0.5%	$87.63 *	$48.44	+92.5%	COM	171340102
IEX	IDEX Corp.	4,566	$743K	0.5%	$162.75 *	$180.23	-6.7%	COM	45167R104
AVGO	Broadcom Inc.	2,199	$725K	0.5%	$329.91 *	$167.27	+82.8%	COM	11135F101
GAIN	Gladstone Investment Corp.	51,013	$705K	0.5%	$13.82	$5.90	+129.7%	COM	376546107
—	Martinrea International Inc.	91,427	$696K	0.5%	$7.61	$8.39	—	COM	573459963
VZ	Verizon Communications Inc.	15,626	$687K	0.4%	$43.95 *	$33.98	+25.0%	COM	92343V104
BHP	BHP LTD ADR	12,105	$675K	0.4%	$55.75	$74.15	—	ADR	088606108
TXRH	Texas Roadhouse, Inc.	4,034	$670K	0.4%	$166.15 *	$137.35	+27.5%	COM	882681109
APA	APA Corp.	27,167	$660K	0.4%	$24.28 *	$17.31	+20.3%	COM	03743Q108
VET	Vermilion Energy Trust	82,058	$642K	0.4%	$7.82	$11.18	-30.9%	COM	923725105
—	Keyera Corp.	19,043	$639K	0.4%	$33.54	$25.35	—	COM	593271951
CMWAY	Commonwealth Bank of Australia	5,802	$638K	0.4%	$110.00	$74.02	—	COM	202712600
GUKYF	Gulf Keystone Petroleum LTD	209,552	$628K	0.4%	$3.00 *	$2.25	+7.7%	COM	G4209G207
AMAT	Applied Material, Inc.	3,033	$621K	0.4%	$204.74 *	$125.86	+43.6%	COM	038222105
NVDA	NVIDIA Corp.	3,324	$620K	0.4%	$186.58 *	$127.44	+36.8%	COM	67066G104
FNF	Fidelity National Financial, I	10,044	$608K	0.4%	$60.49 *	$35.32	+56.0%	COM	31620R303
GS	Goldman Sachs Group Inc.	761	$606K	0.4%	$796.35 *	$347.29	+111.6%	COM	38141G104
LNG	Cheniere Energy, Inc.	2,440	$573K	0.4%	$234.98	$171.26	+37.2%	COM	16411R208
GILD	Gilead Sciences Inc	5,151	$572K	0.4%	$111.00	$58.94	+90.5%	COM	375558103
DMLP	Dorchester Minerals LP	21,549	$558K	0.4%	$25.89	$15.57	—	UNIT LTD PARTN	25820R105
SHEL	Shell PLC ADR	7,615	$545K	0.4%	$71.53	$55.39	—	ADR	780259305
DDOG	Datadog, Inc.	3,645	$519K	0.3%	$142.40 *	$123.10	+11.9%	COM	23804L103
ABNB	Airbnb Inc.	3,932	$477K	0.3%	$121.42 *	$127.58	+1.4%	COM	009066101
CMCSA	Comcast Corp.	14,448	$454K	0.3%	$31.42 *	$27.48	+20.7%	COM	20030N101
—	SThree PLC	206,946	$448K	0.3%	$2.16	$4.66	—	COM	BOKM9T907
GOOGL	Alphabet Inc. Class A	1,757	$427K	0.3%	$243.10 *	$209.20	0.0%	COM	02079K305
C	Citigroup Inc.	3,944	$400K	0.3%	$101.50 *	$67.74	+38.9%	COM	172967424
CHCT	Community Healthcare Trust Inc	25,222	$386K	0.3%	$15.30	$40.76	—	COM	20369C106
NHI	National Health Investors, Inc	4,495	$357K	0.2%	$79.50	$65.45	—	COM	63633D104
VRSN	VeriSign, Inc.	1,233	$345K	0.2%	$279.57	$225.24	+23.5%	COM	92343E102
TCNNF	Trulieve Cannabis Corp.	40,093	$323K	0.2%	$8.06 *	$21.82	-70.8%	COM	89788C104
BMY	Bristol Myers Squibb Co.	7,023	$317K	0.2%	$45.10	$49.83	-8.7%	COM	110122108
ADM	Archer Daniels Midland	5,263	$314K	0.2%	$59.74 *	$46.80	+23.4%	COM	039483102
—	Precinct Properties New Zealan	402,183	$308K	0.2%	$0.76	$0.83	—	COM	609327903
OMC	Omnicom Group	3,673	$299K	0.2%	$81.53 *	$56.40	+31.8%	COM	681919106
MGDDY	Michelin ADR	16,478	$295K	0.2%	$17.92	$14.63	—	ADR	59410T106
PSA	Public Storage	1,017	$294K	0.2%	$288.85 *	$260.76	+8.0%	COM	74460D109
MSFT	Microsoft Corp.	565	$293K	0.2%	$517.95	$437.52	+16.3%	COM	594918104
NNN	National Retail Properties	6,835	$291K	0.2%	$42.57	$46.91	—	COM	637417106
SIEGY	Siemens Aktiengesellschaft	2,150	$290K	0.2%	$135.01	$115.68	—	COM	826197501
UNH	United Health Group Incorporat	837	$289K	0.2%	$345.30 *	$443.70	-32.6%	COM	91324P102
PYPL	PayPal Holdings, Inc.	4,308	$289K	0.2%	$67.06 *	$80.31	-12.4%	COM	70450Y103
OKE	ONEOK Inc.	3,895	$284K	0.2%	$72.97 *	$55.66	+34.8%	COM	682680103
—	Treatt PLC	73,519	$265K	0.2%	$3.61	$7.09	—	COM	AC1086L59
LKQ	LKQ Corp.	8,648	$264K	0.2%	$30.54 *	$33.79	-4.2%	COM	501889208
NXPI	NXP Semiconductors N.V.	1,159	$264K	0.2%	$227.73 *	$209.53	+6.4%	COM	N6596X109
WBD	Warner Brothers Discovery	13,291	$260K	0.2%	$19.53 *	$18.42	-26.0%	COM	934423104
HII	Huntington Ingalls Industries,	891	$257K	0.2%	$287.91 *	$220.44	+20.0%	COM	446413106
LUNMF	Lundin Mining Corporation	17,049	$254K	0.2%	$14.91 *	$8.60	+31.3%	COM	550372106
V	Visa Inc.	721	$246K	0.2%	$341.38	$299.24	+15.3%	COM	92826C839
BNEFF	Bonterra Energy Corp.	91,001	$239K	0.2%	$2.62	$5.08	-48.6%	COM	098546104
CF	CF Industries Holdings, Inc.	2,583	$232K	0.2%	$89.70	$75.02	+17.8%	COM	125269100
ZM	Zoom Communications Inc.	2,801	$231K	0.2%	$82.50 *	$78.02	0.0%	COM	98980L101
ADBE	Adobe Inc.	654	$231K	0.2%	$352.75	$383.78	-6.5%	COM	00724F101
CURLF	Curaleaf Holdings, Inc.	80,002	$223K	0.1%	$2.79 *	$7.47	-71.6%	COM	23126M102
ARE	Alexandria Real Estate Equitie	2,645	$220K	0.1%	$83.34 *	$77.73	0.0%	COM	015271109
AME	Ametek, Inc.	1,106	$208K	0.1%	$188.00 *	$171.25	+7.1%	COM	031100100
MDT	Medtronic PLC	2,176	$207K	0.1%	$95.24 *	$91.27	0.0%	COM	G5960L103
VTRS	Viatris Inc.	17,817	$176K	0.1%	$9.90 *	$9.55	+0.1%	COM	92556V106
PMREF	Primaris REIT	17,512	$163K	0.1%	$9.30	$11.38	—	COM	74167K109
—	Hanesbrands, Inc.	20,455	$135K	0.1%	$6.59	$12.64	—	COM	410345102
CRLBF	Cresco Labs	92,530	$123K	0.1%	$1.32 *	$7.81	-88.2%	COM	22587M106
—	Coats Group PLC	31,486	$35,274	0.0%	$1.12	$0.80	—	COM	B4YZN3906
—	Credito Real Sofom ENR	918,094	$17,547	0.0%	$0.02	$0.79	—	COM	B8DST5905
CBSTF	Cannabist Company Holdings Inc	36,050	$4,146	0.0%	$0.12	$0.50	-79.3%	COM	13765Y103
AYRWF	AYR Wellness Inc.	13,670	$390	0.0%	$0.03	$4.36	-98.3%	COM	05475P109
ROSYY	Rostelecom Long Distance ADR	53,370	$5	0.0%	$0.00	$7.57	—	ADR	778529107
—	Novolipetsk GDR	15,510	$2	0.0%	$0.00	$20.36	—	ADR	B0RTNX900
—	Indiva Limited	110,000	$0	0.0%	$0.00	$0.20	—	COM	45580J101