Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BABA	Alibaba Group Holding Ltd. ADS	6,682	$641K	0.4%	$95.98	—	ADR	01609W102
RHUHF	Richelieu Hardware Ltd.	19,381	$557K	0.3%	$28.74	—	COM	76329W103
HON	Honeywell International Inc.	2,116	$474K	0.3%	$223.85	—	COM	438516205
HONA	Honeywell Aerospace Inc.	2,116	$468K	0.3%	$221.03	—	COM	43849R105
MGM	MGM Resorts International	7,333	$351K	0.2%	$47.81	—	COM	552953101
SIRI	Sirius XM Holdings	11,482	$339K	0.2%	$29.54	—	COM	829933100
USB	U.S. Bancorp	4,822	$291K	0.2%	$60.40	—	COM	902973304
CURLF	Curaleaf Holdings, Inc.	25,009	$270K	0.2%	$10.81	—	COM	23126M300
CALM	Cal-Maine Foods Inc.	3,344	$269K	0.2%	$80.56	—	COM	128030202
UNH	United Health Group Incorporat	641	$266K	0.2%	$415.63	—	COM	91324P102
GLP	Global Partners LP	5,487	$256K	0.1%	$46.59	—	UNIT LTD PARTN	37946R109
DHI	D.R. Horton, Inc.	1,359	$221K	0.1%	$162.88	—	COM	23331A109
SDZNY	Sandoz Group AG	2,341	$212K	0.1%	$90.49	—	ADR	799926100
RHHBY	Roche Holding AG	4,031	$207K	0.1%	$51.35	—	COM	771195104

Increased Positions (33)

KLAC KLA Corp. 4.7%

Value $8.33M (+61.2%) Shares 27,609 (+686.8%) Est. Cost $327.10 Unrealized —

GWW W.W. Grainger, Inc. 1.8%

Value $3.198M (+29.1%) Shares 2,351 (+3.5%) Est. Cost $332.36 Unrealized —

HUBB Hubbell Inc. 1.8%

Value $3.216M (+20.5%) Shares 6,146 (+13.0%) Est. Cost $154.07 Unrealized —

CPK Chesapeake Utilities Corp. 1.2%

Value $2.094M (+34.2%) Shares 17,096 (+38.5%) Est. Cost $75.17 Unrealized —

ATO Atmos Energy Corp. 1.6%

Value $2.826M (+22.3%) Shares 16,403 (+31.2%) Est. Cost $118.34 Unrealized —

MSFT Microsoft Corp. 0.5%

Value $899K (+110.2%) Shares 2,411 (+108.6%) Est. Cost $403.23 Unrealized —

HPE Hewlett Packard Enterprise Com 0.4%

Value $628K (+108.6%) Shares 13,912 (+10.1%) Est. Cost $24.18 Unrealized —

PAYX Paychex, Inc. 1.0%

Value $1.845M (+21.1%) Shares 18,759 (+13.4%) Est. Cost $77.86 Unrealized —

LIN Linde PLC 2.0%

Value $3.471M (+7.8%) Shares 6,688 (+2.9%) Est. Cost $358.13 Unrealized —

TXRH Texas Roadhouse, Inc. 0.7%

Value $1.218M (+21.9%) Shares 6,302 (+4.2%) Est. Cost $149.90 Unrealized —

GTBIF Green Thumb Industries Inc. 0.4%

Value $754K (+37.9%) Shares 95,290 (+11.3%) Est. Cost $14.50 Unrealized —

ADP Automatic Data Processing, Inc 1.1%

Value $1.944M (+11.6%) Shares 8,680 (+1.3%) Est. Cost $92.28 Unrealized —

NXPI NXP Semiconductors N.V. 0.3%

Value $455K (+65.7%) Shares 1,618 (+16.1%) Est. Cost $224.49 Unrealized —

NDSN Nordson Corp. 0.8%

Value $1.321M (+14.6%) Shares 4,379 (+1.1%) Est. Cost $123.32 Unrealized —

ZTS Zoetis Inc. 0.4%

Value $650K (+29.9%) Shares 9,044 (+113.8%) Est. Cost $97.18 Unrealized —

LECO Lincoln Electric Holdings, Inc 1.0%

Value $1.847M (+8.8%) Shares 6,955 (+2.1%) Est. Cost $110.32 Unrealized —

— Gaztransport et Technigaz SAS 1.0%

Value $1.749M (+8.2%) Shares 8,236 (+19.7%) Est. Cost $94.27 Unrealized —

FBK FB Financial Corp. 0.9%

Value $1.571M (+8.2%) Shares 28,390 (+1.5%) Est. Cost $28.52 Unrealized —

GAIN Gladstone Investment Corp. 0.6%

Value $1.074M (+11.3%) Shares 69,455 (+2.2%) Est. Cost $7.98 Unrealized —

HII Huntington Ingalls Industries, 0.1%

Value $251K (-25.6%) Shares 897 (+1.0%) Est. Cost $221.91 Unrealized —

GRMN Garmin LTD 0.9%

Value $1.53M (+5.2%) Shares 6,439 (+2.7%) Est. Cost $111.24 Unrealized —

FAST Fastenal Co. 0.8%

Value $1.398M (+5.4%) Shares 29,108 (+1.9%) Est. Cost $33.14 Unrealized —

CHCT Community Healthcare Trust Inc 0.3%

Value $495K (+16.9%) Shares 27,077 (+1.6%) Est. Cost $39.11 Unrealized —

KMI Kinder Morgan, Inc. 1.3%

Value $2.352M (-2.6%) Shares 73,562 (+2.2%) Est. Cost $17.40 Unrealized —

GGG Graco Inc. 0.3%

Value $613K (-7.2%) Shares 8,106 (+3.8%) Est. Cost $43.06 Unrealized —

ENB Enbridge Inc. 0.7%

Value $1.301M (+3.4%) Shares 24,008 (+3.3%) Est. Cost $24.78 Unrealized —

META Meta Platforms, Inc. 0.7%

Value $1.231M (+3.3%) Shares 2,185 (+4.9%) Est. Cost $337.57 Unrealized —

CHD Church & Dwight Company, Inc. 0.4%

Value $696K (+5.6%) Shares 7,180 (+1.7%) Est. Cost $50.30 Unrealized —

NNN National Retail Properties 0.1%

Value $236K (+14.5%) Shares 5,071 (+3.4%) Est. Cost $42.18 Unrealized —

DMLP Dorchester Minerals LP 0.3%

Value $584K (-4.3%) Shares 23,140 (+2.7%) Est. Cost $16.23 Unrealized —

PYPL PayPal Holdings, Inc. 0.2%

Value $269K (+5.6%) Shares 6,230 (+10.6%) Est. Cost $69.96 Unrealized —

LIFZF Labrador Iron Ore Royalty Corp 0.6%

Value $1.091M (-1.0%) Shares 55,433 (+5.1%) Est. Cost $22.11 Unrealized —

OKE ONEOK Inc. 0.2%

Value $301K (-2.7%) Shares 3,468 (+1.2%) Est. Cost $56.02 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KLAC	KLA Corp.	27,609 (+686.8%)	$8.33M (+61.2%)	4.7%	$327.10	—	COM	482480100
GWW	W.W. Grainger, Inc.	2,351 (+3.5%)	$3.198M (+29.1%)	1.8%	$332.36	—	COM	384802104
HUBB	Hubbell Inc.	6,146 (+13.0%)	$3.216M (+20.5%)	1.8%	$154.07	—	COM	443510607
CPK	Chesapeake Utilities Corp.	17,096 (+38.5%)	$2.094M (+34.2%)	1.2%	$75.17	—	COM	165303108
ATO	Atmos Energy Corp.	16,403 (+31.2%)	$2.826M (+22.3%)	1.6%	$118.34	—	COM	049560105
MSFT	Microsoft Corp.	2,411 (+108.6%)	$899K (+110.2%)	0.5%	$403.23	—	COM	594918104
HPE	Hewlett Packard Enterprise Com	13,912 (+10.1%)	$628K (+108.6%)	0.4%	$24.18	—	COM	42824C109
PAYX	Paychex, Inc.	18,759 (+13.4%)	$1.845M (+21.1%)	1.0%	$77.86	—	COM	704326107
LIN	Linde PLC	6,688 (+2.9%)	$3.471M (+7.8%)	2.0%	$358.13	—	COM	G54950103
TXRH	Texas Roadhouse, Inc.	6,302 (+4.2%)	$1.218M (+21.9%)	0.7%	$149.90	—	COM	882681109
GTBIF	Green Thumb Industries Inc.	95,290 (+11.3%)	$754K (+37.9%)	0.4%	$14.50	—	COM	39342L108
ADP	Automatic Data Processing, Inc	8,680 (+1.3%)	$1.944M (+11.6%)	1.1%	$92.28	—	COM	053015103
NXPI	NXP Semiconductors N.V.	1,618 (+16.1%)	$455K (+65.7%)	0.3%	$224.49	—	COM	N6596X109
NDSN	Nordson Corp.	4,379 (+1.1%)	$1.321M (+14.6%)	0.8%	$123.32	—	COM	655663102
ZTS	Zoetis Inc.	9,044 (+113.8%)	$650K (+29.9%)	0.4%	$97.18	—	COM	98978V103
LECO	Lincoln Electric Holdings, Inc	6,955 (+2.1%)	$1.847M (+8.8%)	1.0%	$110.32	—	COM	533900106
—	Gaztransport et Technigaz SAS	8,236 (+19.7%)	$1.749M (+8.2%)	1.0%	$94.27	—	COM	ACI07W296
FBK	FB Financial Corp.	28,390 (+1.5%)	$1.571M (+8.2%)	0.9%	$28.52	—	COM	30257X104
GAIN	Gladstone Investment Corp.	69,455 (+2.2%)	$1.074M (+11.3%)	0.6%	$7.98	—	COM	376546107
HII	Huntington Ingalls Industries,	897 (+1.0%)	$251K (-25.6%)	0.1%	$221.91	—	COM	446413106
GRMN	Garmin LTD	6,439 (+2.7%)	$1.53M (+5.2%)	0.9%	$111.24	—	COM	H2906T109
FAST	Fastenal Co.	29,108 (+1.9%)	$1.398M (+5.4%)	0.8%	$33.14	—	COM	311900104
CHCT	Community Healthcare Trust Inc	27,077 (+1.6%)	$495K (+16.9%)	0.3%	$39.11	—	COM	20369C106
KMI	Kinder Morgan, Inc.	73,562 (+2.2%)	$2.352M (-2.6%)	1.3%	$17.40	—	COM	49456B101
GGG	Graco Inc.	8,106 (+3.8%)	$613K (-7.2%)	0.3%	$43.06	—	COM	384109104
ENB	Enbridge Inc.	24,008 (+3.3%)	$1.301M (+3.4%)	0.7%	$24.78	—	COM	29250N105
META	Meta Platforms, Inc.	2,185 (+4.9%)	$1.231M (+3.3%)	0.7%	$337.57	—	COM	30303M102
CHD	Church & Dwight Company, Inc.	7,180 (+1.7%)	$696K (+5.6%)	0.4%	$50.30	—	COM	171340102
NNN	National Retail Properties	5,071 (+3.4%)	$236K (+14.5%)	0.1%	$42.18	—	COM	637417106
DMLP	Dorchester Minerals LP	23,140 (+2.7%)	$584K (-4.3%)	0.3%	$16.23	—	UNIT LTD PARTN	25820R105
PYPL	PayPal Holdings, Inc.	6,230 (+10.6%)	$269K (+5.6%)	0.2%	$69.96	—	COM	70450Y103
LIFZF	Labrador Iron Ore Royalty Corp	55,433 (+5.1%)	$1.091M (-1.0%)	0.6%	$22.11	—	COM	505440107
OKE	ONEOK Inc.	3,468 (+1.2%)	$301K (-2.7%)	0.2%	$56.02	—	COM	682680103

Exited Positions (4)

PBA Pembina Pipeline Corp. 1.0%

Value $1.795M Shares 40,098 Est. Cost $23.02 Unrealized —

HON Honeywell International Inc. 0.5%

Value $948K Shares 4,196 Est. Cost $88.65 Unrealized —

LKQ LKQ Corp. 0.1%

Value $212K Shares 7,204 Est. Cost $33.79 Unrealized —

CURLF Curaleaf Holdings, Inc. 0.1%

Value $161K Shares 75,079 Est. Cost $7.47 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PBA	Pembina Pipeline Corp.	40,098	$1.795M	1.0%	$23.02	—	—	706327103
HON	Honeywell International Inc.	4,196	$948K	0.5%	$88.65	—	—	438516106
LKQ	LKQ Corp.	7,204	$212K	0.1%	$33.79	—	—	501889208
CURLF	Curaleaf Holdings, Inc.	75,079	$161K	0.1%	$7.47	—	—	23126M102

Decreased Positions (13)

LRCX Lam Research Corp. 5.0%

Value $8.737M (+99.5%) Shares 20,163 (-1.6%) Est. Cost $77.56 Unrealized —

PH Parker Hannifin Corp. 1.2%

Value $2.045M (-35.2%) Shares 2,091 (-40.6%) Est. Cost $152.98 Unrealized —

TSM Taiwan Semiconductor Manufactu 2.1%

Value $3.779M (+39.9%) Shares 7,914 (-1.0%) Est. Cost $114.67 Unrealized —

AMAT Applied Material, Inc. 1.2%

Value $2.102M (+104.4%) Shares 2,908 (-3.4%) Est. Cost $125.86 Unrealized —

MTD Mettler-Toledo International, 0.3%

Value $608K (-62.5%) Shares 476 (-63.0%) Est. Cost $465.00 Unrealized —

DLMAF Dollarama Inc. 0.9%

Value $1.539M (-28.7%) Shares 11,538 (-34.4%) Est. Cost $141.47 Unrealized —

DDOG Datadog, Inc. 0.5%

Value $918K (+117.3%) Shares 3,525 (-1.5%) Est. Cost $123.10 Unrealized —

TTE TotalEnergies SE ADR 0.9%

Value $1.538M (-19.7%) Shares 19,774 (-6.1%) Est. Cost $63.33 Unrealized —

AAPL Apple Inc. 0.8%

Value $1.348M (+12.3%) Shares 4,657 (-1.5%) Est. Cost $98.52 Unrealized —

VTRS Viatris Inc. 0.2%

Value $379K (+14.9%) Shares 23,866 (-2.2%) Est. Cost $9.88 Unrealized —

GOOGL Alphabet Inc. Class A 0.2%

Value $309K (-5.7%) Shares 864 (-24.1%) Est. Cost $209.20 Unrealized —

ZM Zoom Communications Inc. 0.2%

Value $265K (+5.3%) Shares 3,070 (-1.9%) Est. Cost $78.69 Unrealized —

ADM Archer Daniels Midland 0.2%

Value $403K (+2.0%) Shares 5,272 (-3.0%) Est. Cost $47.47 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LRCX	Lam Research Corp.	20,163 (-1.6%)	$8.737M (+99.5%)	5.0%	$77.56	—	COM	512807306
PH	Parker Hannifin Corp.	2,091 (-40.6%)	$2.045M (-35.2%)	1.2%	$152.98	—	COM	701094104
TSM	Taiwan Semiconductor Manufactu	7,914 (-1.0%)	$3.779M (+39.9%)	2.1%	$114.67	—	ADR	874039100
AMAT	Applied Material, Inc.	2,908 (-3.4%)	$2.102M (+104.4%)	1.2%	$125.86	—	COM	038222105
MTD	Mettler-Toledo International,	476 (-63.0%)	$608K (-62.5%)	0.3%	$465.00	—	COM	592688105
DLMAF	Dollarama Inc.	11,538 (-34.4%)	$1.539M (-28.7%)	0.9%	$141.47	—	COM	25675T107
DDOG	Datadog, Inc.	3,525 (-1.5%)	$918K (+117.3%)	0.5%	$123.10	—	COM	23804L103
TTE	TotalEnergies SE ADR	19,774 (-6.1%)	$1.538M (-19.7%)	0.9%	$63.33	—	ADR	F92124100
AAPL	Apple Inc.	4,657 (-1.5%)	$1.348M (+12.3%)	0.8%	$98.52	—	COM	037833100
VTRS	Viatris Inc.	23,866 (-2.2%)	$379K (+14.9%)	0.2%	$9.88	—	COM	92556V106
GOOGL	Alphabet Inc. Class A	864 (-24.1%)	$309K (-5.7%)	0.2%	$209.20	—	COM	02079K305
ZM	Zoom Communications Inc.	3,070 (-1.9%)	$265K (+5.3%)	0.2%	$78.69	—	COM	98980L101
ADM	Archer Daniels Midland	5,272 (-3.0%)	$403K (+2.0%)	0.2%	$47.47	—	COM	039483102

Unchanged Positions (79)

GOOG Alphabet Inc. Class C 4.4%

Value $7.736M Shares 21,895 Est. Cost $113.23 Unrealized —

NBIS Nebius Group NV 1.0%

Value $1.794M Shares 6,495 Est. Cost $34.43 Unrealized —

AGYS Agilysys, Inc. 1.1%

Value $1.946M Shares 18,620 Est. Cost $56.12 Unrealized —

— Schneider Electric SA 1.8%

Value $3.089M Shares 9,476 Est. Cost $96.42 Unrealized —

CMI Cummins Inc. 1.1%

Value $2.017M Shares 2,827 Est. Cost $143.58 Unrealized —

TMTNF Toromont Industries Ltd. 1.8%

Value $3.151M Shares 19,369 Est. Cost $84.70 Unrealized —

CME CME Group Inc. 0.8%

Value $1.333M Shares 6,037 Est. Cost $244.71 Unrealized —

PLBC Plumas Bancorp 1.5%

Value $2.629M Shares 44,983 Est. Cost $42.94 Unrealized —

SKT Tanger Factory Outlet Centers, 1.5%

Value $2.561M Shares 64,878 Est. Cost $7.31 Unrealized —

SNA Snap-on Inc. 2.0%

Value $3.59M Shares 8,922 Est. Cost $144.72 Unrealized —

VET Vermilion Energy Trust 0.4%

Value $761K Shares 81,878 Est. Cost $11.18 Unrealized —

MGY Magnolia Oil & Gas Corp. 0.9%

Value $1.592M Shares 62,227 Est. Cost $15.80 Unrealized —

— Straumann Holdings AG 0.9%

Value $1.63M Shares 12,379 Est. Cost $131.58 Unrealized —

ETN Eaton Corp. PLC 1.2%

Value $2.193M Shares 5,146 Est. Cost $221.90 Unrealized —

WTFC Wintrust Financial Corp. 1.3%

Value $2.372M Shares 14,761 Est. Cost $126.97 Unrealized —

CVS CVS Health Corp. 0.6%

Value $1.042M Shares 10,076 Est. Cost $52.24 Unrealized —

T AT&T Inc. 0.4%

Value $740K Shares 35,772 Est. Cost $16.29 Unrealized —

MCD McDonald's Corp. 1.2%

Value $2.093M Shares 7,745 Est. Cost $145.18 Unrealized —

GVDNY Givaudan SA ADR 0.8%

Value $1.41M Shares 16,692 Est. Cost $42.51 Unrealized —

APA APA Corp. 0.5%

Value $912K Shares 27,988 Est. Cost $17.40 Unrealized —

CHRD Chord Energy Corp. 0.6%

Value $1.067M Shares 9,332 Est. Cost $125.54 Unrealized —

TNC Tennant Co. 0.5%

Value $873K Shares 9,968 Est. Cost $58.11 Unrealized —

CLMB Climb Global Solutions Inc. 0.8%

Value $1.446M Shares 62,315 Est. Cost $97.01 Unrealized —

FISV Fiserv Inc. 0.9%

Value $1.549M Shares 31,579 Est. Cost $72.62 Unrealized —

NSC Norfolk & Southern Corp. 1.0%

Value $1.829M Shares 5,814 Est. Cost $77.07 Unrealized —

TCNNF Trulieve Cannabis Corp 0.2%

Value $385K Shares 39,203 Est. Cost $21.82 Unrealized —

— Sabre Insurance Group PLC 0.9%

Value $1.579M Shares 684,990 Est. Cost $1.68 Unrealized —

SHW Sherwin-Williams Co. 1.2%

Value $2.166M Shares 6,292 Est. Cost $167.62 Unrealized —

— Compagnie Michelin 0.7%

Value $1.164M Shares 30,199 Est. Cost $30.48 Unrealized —

— Sparebank 1 SR-Bank 0.8%

Value $1.363M Shares 69,722 Est. Cost $8.27 Unrealized —

AVGO Broadcom Inc. 0.4%

Value $791K Shares 2,095 Est. Cost $167.27 Unrealized —

VZ Verizon Communications Inc. 0.4%

Value $649K Shares 15,336 Est. Cost $33.98 Unrealized —

BHP BHP LTD ADR 0.6%

Value $988K Shares 11,865 Est. Cost $74.15 Unrealized —

ITT ITT Corp. 1.7%

Value $3.004M Shares 15,189 Est. Cost $45.94 Unrealized —

SHEL Shell PLC ADR 0.3%

Value $579K Shares 7,471 Est. Cost $55.39 Unrealized —

EMR Emerson Electric Co. 0.7%

Value $1.25M Shares 8,730 Est. Cost $64.97 Unrealized —

LNG Cheniere Energy, Inc. 0.3%

Value $602K Shares 2,519 Est. Cost $172.42 Unrealized —

TTTRF Treatt PLC 0.2%

Value $295K Shares 72,963 Est. Cost $2.79 Unrealized —

WES Western Midstream Partners, LP 0.9%

Value $1.561M Shares 35,672 Est. Cost $28.79 Unrealized —

NVS Novartis AG ADR 2.3%

Value $4.032M Shares 25,727 Est. Cost $97.36 Unrealized —

C Citigroup Inc. 0.3%

Value $535K Shares 3,824 Est. Cost $67.74 Unrealized —

GUKYF Gulf Keystone Petroleum LTD 0.3%

Value $492K Shares 211,075 Est. Cost $2.25 Unrealized —

MGDDY Michelin ADR 0.5%

Value $806K Shares 41,823 Est. Cost $15.81 Unrealized —

NVDA NVIDIA Corp. 0.4%

Value $639K Shares 3,195 Est. Cost $127.44 Unrealized —

PAC Grupo Aeroportuario Del Pacifi 1.7%

Value $2.969M Shares 11,726 Est. Cost $106.67 Unrealized —

SIEGY Siemens Aktiengesellschaft 0.2%

Value $328K Shares 2,038 Est. Cost $115.98 Unrealized —

— Banco del Bajio SA 0.9%

Value $1.6M Shares 493,886 Est. Cost $1.78 Unrealized —

ABNB Airbnb Inc. 0.3%

Value $545K Shares 3,807 Est. Cost $127.58 Unrealized —

GILD Gilead Sciences Inc 0.4%

Value $633K Shares 5,012 Est. Cost $58.94 Unrealized —

PMREF Primaris REIT 0.9%

Value $1.51M Shares 139,909 Est. Cost $10.51 Unrealized —

CF CF Industries Holdings, Inc. 0.2%

Value $308K Shares 2,842 Est. Cost $76.14 Unrealized —

GTY Getty Realty Corp. 0.6%

Value $1.026M Shares 30,749 Est. Cost $27.37 Unrealized —

ECL Ecolab, Inc. 0.6%

Value $1.063M Shares 3,814 Est. Cost $165.93 Unrealized —

PSA Public Storage 0.2%

Value $314K Shares 986 Est. Cost $260.76 Unrealized —

— Keyera Corp. 0.4%

Value $775K Shares 19,104 Est. Cost $25.35 Unrealized —

EPD Enterprise Products Partners L 0.9%

Value $1.497M Shares 40,718 Est. Cost $34.26 Unrealized —

AME Ametek, Inc. 0.1%

Value $262K Shares 1,084 Est. Cost $171.25 Unrealized —

V Visa Inc. 0.1%

Value $245K Shares 715 Est. Cost $299.24 Unrealized —

BMY Bristol Myers Squibb Co. 0.2%

Value $416K Shares 7,218 Est. Cost $49.76 Unrealized —

CMWAY Commonwealth Bank of Australia 0.4%

Value $667K Shares 5,826 Est. Cost $74.02 Unrealized —

NHI National Health Investors, Inc 0.2%

Value $342K Shares 4,489 Est. Cost $65.45 Unrealized —

— Credito Real Sofom ENR ⚠ 0.0%

Value $0 Shares 917,094 Est. Cost $0.79 Unrealized —

MRNFF Meren Energy Inc. 0.0%

Value $54,400 Shares 40,000 Est. Cost $1.27 Unrealized —

— Commonwealth Bank of Australia 0.5%

Value $862K Shares 7,565 Est. Cost $73.21 Unrealized —

LUNMF Lundin Mining Corporation 0.2%

Value $424K Shares 17,445 Est. Cost $8.96 Unrealized —

IRMD IRadimed Corp. 0.9%

Value $1.643M Shares 17,193 Est. Cost $47.31 Unrealized —

OMC Omnicom Group 0.2%

Value $347K Shares 4,769 Est. Cost $60.79 Unrealized —

VRSN VeriSign, Inc. 0.2%

Value $309K Shares 1,229 Est. Cost $225.24 Unrealized —

CRLBF Cresco Labs 0.0%

Value $73,069 Shares 88,035 Est. Cost $7.81 Unrealized —

ET Energy Transfer LP 0.8%

Value $1.474M Shares 77,078 Est. Cost $11.86 Unrealized —

FLS Flowserve Corp. 0.1%

Value $247K Shares 3,329 Est. Cost $64.66 Unrealized —

— Precinct Properties New Zealan 0.1%

Value $240K Shares 405,912 Est. Cost $0.59 Unrealized —

CBSTF Cannabist Company Holdings Inc 0.0%

Value $4 Shares 35,390 Est. Cost $0.50 Unrealized —

— Coats Group PLC 0.0%

Value $30,370 Shares 29,376 Est. Cost $0.80 Unrealized —

ATR AptarGroup, Inc. 0.7%

Value $1.309M Shares 10,459 Est. Cost $68.62 Unrealized —

AYRWF AYR Wellness Inc. 0.0%

Value $201 Shares 12,946 Est. Cost $4.36 Unrealized —

— Novolipetsk GDR 0.0%

Value $2 Shares 15,295 Est. Cost $20.36 Unrealized —

— Indiva Limited ⚠ 0.0%

Value $0 Shares 107,000 Est. Cost $0.20 Unrealized —

ROSYY Rostelecom Long Distance ADR 0.0%

Value $5 Shares 46,000 Est. Cost $7.57 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	Alphabet Inc. Class C	21,895	$7.736M	4.4%	$113.23	—	COM	02079K107
NBIS	Nebius Group NV	6,495	$1.794M	1.0%	$34.43	—	COM	N97284108
AGYS	Agilysys, Inc.	18,620	$1.946M	1.1%	$56.12	—	COM	00847J105
—	Schneider Electric SA	9,476	$3.089M	1.8%	$96.42	—	COM	483410007
CMI	Cummins Inc.	2,827	$2.017M	1.1%	$143.58	—	COM	231021106
TMTNF	Toromont Industries Ltd.	19,369	$3.151M	1.8%	$84.70	—	COM	891102105
CME	CME Group Inc.	6,037	$1.333M	0.8%	$244.71	—	COM	12572Q105
PLBC	Plumas Bancorp	44,983	$2.629M	1.5%	$42.94	—	COM	729273102
SKT	Tanger Factory Outlet Centers,	64,878	$2.561M	1.5%	$7.31	—	COM	875465106
SNA	Snap-on Inc.	8,922	$3.59M	2.0%	$144.72	—	COM	833034101
VET	Vermilion Energy Trust	81,878	$761K	0.4%	$11.18	—	COM	923725105
MGY	Magnolia Oil & Gas Corp.	62,227	$1.592M	0.9%	$15.80	—	COM	559663109
—	Straumann Holdings AG	12,379	$1.63M	0.9%	$131.58	—	COM	715683900
ETN	Eaton Corp. PLC	5,146	$2.193M	1.2%	$221.90	—	COM	G29183103
WTFC	Wintrust Financial Corp.	14,761	$2.372M	1.3%	$126.97	—	COM	97650W108
CVS	CVS Health Corp.	10,076	$1.042M	0.6%	$52.24	—	COM	126650100
T	AT&T Inc.	35,772	$740K	0.4%	$16.29	—	COM	00206R102
MCD	McDonald's Corp.	7,745	$2.093M	1.2%	$145.18	—	COM	580135101
GVDNY	Givaudan SA ADR	16,692	$1.41M	0.8%	$42.51	—	ADR	37636P108
APA	APA Corp.	27,988	$912K	0.5%	$17.40	—	COM	03743Q108
CHRD	Chord Energy Corp.	9,332	$1.067M	0.6%	$125.54	—	COM	674215207
TNC	Tennant Co.	9,968	$873K	0.5%	$58.11	—	COM	880345103
CLMB	Climb Global Solutions Inc.	62,315	$1.446M	0.8%	$97.01	—	COM	946760105
FISV	Fiserv Inc.	31,579	$1.549M	0.9%	$72.62	—	COM	337738108
NSC	Norfolk & Southern Corp.	5,814	$1.829M	1.0%	$77.07	—	COM	655844108
TCNNF	Trulieve Cannabis Corp	39,203	$385K	0.2%	$21.82	—	COM	89788C104
—	Sabre Insurance Group PLC	684,990	$1.579M	0.9%	$1.68	—	COM	BYWVDP903
SHW	Sherwin-Williams Co.	6,292	$2.166M	1.2%	$167.62	—	COM	824348106
—	Compagnie Michelin	30,199	$1.164M	0.7%	$30.48	—	COM	BPBPJ0907
—	Sparebank 1 SR-Bank	69,722	$1.363M	0.8%	$8.27	—	COM	B40JTQ902
AVGO	Broadcom Inc.	2,095	$791K	0.4%	$167.27	—	COM	11135F101
VZ	Verizon Communications Inc.	15,336	$649K	0.4%	$33.98	—	COM	92343V104
BHP	BHP LTD ADR	11,865	$988K	0.6%	$74.15	—	ADR	088606108
ITT	ITT Corp.	15,189	$3.004M	1.7%	$45.94	—	COM	45073V108
SHEL	Shell PLC ADR	7,471	$579K	0.3%	$55.39	—	ADR	780259305
EMR	Emerson Electric Co.	8,730	$1.25M	0.7%	$64.97	—	COM	291011104
LNG	Cheniere Energy, Inc.	2,519	$602K	0.3%	$172.42	—	COM	16411R208
TTTRF	Treatt PLC	72,963	$295K	0.2%	$2.79	—	COM	G9026D113
WES	Western Midstream Partners, LP	35,672	$1.561M	0.9%	$28.79	—	UNIT LTD PARTN	958669103
NVS	Novartis AG ADR	25,727	$4.032M	2.3%	$97.36	—	ADR	66987V109
C	Citigroup Inc.	3,824	$535K	0.3%	$67.74	—	COM	172967424
GUKYF	Gulf Keystone Petroleum LTD	211,075	$492K	0.3%	$2.25	—	COM	G4209G207
MGDDY	Michelin ADR	41,823	$806K	0.5%	$15.81	—	ADR	59410T106
NVDA	NVIDIA Corp.	3,195	$639K	0.4%	$127.44	—	COM	67066G104
PAC	Grupo Aeroportuario Del Pacifi	11,726	$2.969M	1.7%	$106.67	—	ADR	400506101
SIEGY	Siemens Aktiengesellschaft	2,038	$328K	0.2%	$115.98	—	COM	826197501
—	Banco del Bajio SA	493,886	$1.6M	0.9%	$1.78	—	COM	ACI0VM9Y9
ABNB	Airbnb Inc.	3,807	$545K	0.3%	$127.58	—	COM	009066101
GILD	Gilead Sciences Inc	5,012	$633K	0.4%	$58.94	—	COM	375558103
PMREF	Primaris REIT	139,909	$1.51M	0.9%	$10.51	—	COM	74167K109
CF	CF Industries Holdings, Inc.	2,842	$308K	0.2%	$76.14	—	COM	125269100
GTY	Getty Realty Corp.	30,749	$1.026M	0.6%	$27.37	—	COM	374297109
ECL	Ecolab, Inc.	3,814	$1.063M	0.6%	$165.93	—	COM	278865100
PSA	Public Storage	986	$314K	0.2%	$260.76	—	COM	74460D109
—	Keyera Corp.	19,104	$775K	0.4%	$25.35	—	COM	593271951
EPD	Enterprise Products Partners L	40,718	$1.497M	0.9%	$34.26	—	UNIT LTD PARTN	293792107
AME	Ametek, Inc.	1,084	$262K	0.1%	$171.25	—	COM	031100100
V	Visa Inc.	715	$245K	0.1%	$299.24	—	COM	92826C839
BMY	Bristol Myers Squibb Co.	7,218	$416K	0.2%	$49.76	—	COM	110122108
CMWAY	Commonwealth Bank of Australia	5,826	$667K	0.4%	$74.02	—	COM	202712600
NHI	National Health Investors, Inc	4,489	$342K	0.2%	$65.45	—	COM	63633D104
—	Credito Real Sofom ENR ⚠	917,094	$0	0.0%	$0.79	—	COM	B8DST5905
MRNFF	Meren Energy Inc.	40,000	$54,400	0.0%	$1.27	—	COM	588914101
—	Commonwealth Bank of Australia	7,565	$862K	0.5%	$73.21	—	COM	621503002
LUNMF	Lundin Mining Corporation	17,445	$424K	0.2%	$8.96	—	COM	550372106
IRMD	IRadimed Corp.	17,193	$1.643M	0.9%	$47.31	—	COM	46266A109
OMC	Omnicom Group	4,769	$347K	0.2%	$60.79	—	COM	681919106
VRSN	VeriSign, Inc.	1,229	$309K	0.2%	$225.24	—	COM	92343E102
CRLBF	Cresco Labs	88,035	$73,069	0.0%	$7.81	—	COM	22587M106
ET	Energy Transfer LP	77,078	$1.474M	0.8%	$11.86	—	UNIT LTD PARTN	29273V100
FLS	Flowserve Corp.	3,329	$247K	0.1%	$64.66	—	COM	34354P105
—	Precinct Properties New Zealan	405,912	$240K	0.1%	$0.59	—	COM	q7740q104
CBSTF	Cannabist Company Holdings Inc	35,390	$4	0.0%	$0.50	—	COM	13765Y103
—	Coats Group PLC	29,376	$30,370	0.0%	$0.80	—	COM	B4YZN3906
ATR	AptarGroup, Inc.	10,459	$1.309M	0.7%	$68.62	—	COM	038336103
AYRWF	AYR Wellness Inc.	12,946	$201	0.0%	$4.36	—	COM	05475P109
—	Novolipetsk GDR	15,295	$2	0.0%	$20.36	—	ADR	B0RTNX900
—	Indiva Limited ⚠	107,000	$0	0.0%	$0.20	—	COM	45580J101
ROSYY	Rostelecom Long Distance ADR	46,000	$5	0.0%	$7.57	—	ADR	778529107