Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
EGY	Vaalco Energy Inc	117,859	$667K	0.4%	$5.66	$5.67	-0.1%	COM	91851C201
WMT	Walmart Inc.	5,719	$594K	0.4%	$103.92	$109.79	-5.3%	COM	931142103
—	Polaris Renewable Energy Inc.	39,518	$383K	0.2%	$9.70	$9.70	—	COM	73106R100
AMZN	Amazon.com, Inc.	1,257	$313K	0.2%	$249.15	$254.08	-1.9%	COM	023135106
LKQ	LKQ Corp.	10,902	$249K	0.2%	$22.83	$24.76	-7.8%	COM	501889208
XOM	Exxon Mobil Corp.	1,392	$227K	0.1%	$162.75	$156.36	+4.1%	COM	30231G102
AOTUF	Precinct Properties New Zealan	406,396	$216K	0.1%	$0.53	$0.53	—	COM	Q7740Q104
CRM	Salesforce Inc.	907	$208K	0.1%	$229.57	$206.28	+11.3%	COM	79466L302
MDT	Medtronic PLC	2,372	$205K	0.1%	$86.29	$88.13	-2.1%	COM	G5960L103

Increased Positions (45)

DLMAF Dollarama Inc. 1.6%

Value $2.687M (+74.6%) Shares 20,787 (+80.2%) Share Price $129.27 Est. Cost/Share $135.98 Unrealized @ Report Date -5.1%

GUKYF Gulf Keystone Petroleum LTD 0.8%

Value $1.321M (+168.6%) Shares 513,587 (+143.3%) Share Price $2.57 Est. Cost/Share $2.38 Unrealized @ Report Date +9.1%

— Gaztransport et Technigaz SAS 1.4%

Value $2.338M (+33.7%) Shares 9,623 (+16.8%) Share Price $242.95 Est. Cost/Share $115.70 Unrealized @ Report Date —

PAC Grupo Aeroportuario Del Pacifi 1.5%

Value $2.497M (-15.9%) Shares 12,156 (+3.7%) Share Price $205.41 Est. Cost/Share $113.09 Unrealized @ Report Date +81.6%

HON Honeywell International Inc. 0.5%

Value $845K (+78.3%) Shares 4,005 (+89.3%) Share Price $210.92 Est. Cost/Share $217.75 Unrealized @ Report Date —

CME CME Group Inc. 1.0%

Value $1.698M (+27.4%) Shares 6,482 (+7.4%) Share Price $261.96 Est. Cost/Share $246.11 Unrealized @ Report Date +6.5%

MSFT Microsoft Corp. 0.8%

Value $1.253M (+39.3%) Shares 2,443 (+1.3%) Share Price $512.92 Est. Cost/Share $415.99 Unrealized @ Report Date +23.3%

SDZNY Sandoz Group AG 0.3%

Value $553K (+161.1%) Shares 6,542 (+179.5%) Share Price $84.55 Est. Cost/Share $84.40 Unrealized @ Report Date +0.2%

MCD McDonald's Corp. 1.1%

Value $1.825M (-12.8%) Shares 7,902 (+2.0%) Share Price $230.94 Est. Cost/Share $147.54 Unrealized @ Report Date +56.5%

APA APA Corp. 0.7%

Value $1.177M (+29.2%) Shares 28,345 (+1.3%) Share Price $41.54 Est. Cost/Share $17.68 Unrealized @ Report Date +135.0%

LIN Linde PLC 1.9%

Value $3.216M (-7.3%) Shares 6,777 (+1.3%) Share Price $474.62 Est. Cost/Share $359.89 Unrealized @ Report Date +31.9%

TXRH Texas Roadhouse, Inc. 0.6%

Value $1.001M (-17.8%) Shares 6,400 (+1.6%) Share Price $156.33 Est. Cost/Share $149.54 Unrealized @ Report Date +4.5%

NVDA NVIDIA Corp. 0.5%

Value $851K (+33.1%) Shares 3,726 (+16.6%) Share Price $228.38 Est. Cost/Share $139.83 Unrealized @ Report Date +63.3%

CHRD Chord Energy Corp. 0.8%

Value $1.266M (+18.7%) Shares 9,444 (+1.2%) Share Price $134.06 Est. Cost/Share $125.68 Unrealized @ Report Date +6.7%

TNC Tennant Co. 0.4%

Value $681K (-22.0%) Shares 10,127 (+1.6%) Share Price $67.22 Est. Cost/Share $58.33 Unrealized @ Report Date +15.2%

RHUHF Richelieu Hardware Ltd. 0.4%

Value $742K (+33.3%) Shares 29,275 (+51.0%) Share Price $25.36 Est. Cost/Share $27.56 Unrealized @ Report Date -6.8%

— Commonwealth Bank of Australia 0.6%

Value $1.031M (+19.5%) Shares 9,822 (+29.8%) Share Price $104.93 Est. Cost/Share $80.50 Unrealized @ Report Date —

T AT&T Inc. 0.5%

Value $901K (+21.6%) Shares 36,909 (+3.2%) Share Price $24.40 Est. Cost/Share $16.53 Unrealized @ Report Date +47.6%

ET Energy Transfer LP 1.0%

Value $1.619M (+9.9%) Shares 81,911 (+6.3%) Share Price $19.77 Est. Cost/Share $12.33 Unrealized @ Report Date —

NDSN Nordson Corp. 0.9%

Value $1.465M (+10.9%) Shares 4,469 (+2.1%) Share Price $327.89 Est. Cost/Share $126.84 Unrealized @ Report Date +158.5%

GTY Getty Realty Corp. 0.5%

Value $883K (-13.9%) Shares 31,278 (+1.7%) Share Price $28.24 Est. Cost/Share $27.38 Unrealized @ Report Date —

HONA Honeywell Aerospace Inc. 0.2%

Value $336K (-28.3%) Shares 2,165 (+2.3%) Share Price $154.97 Est. Cost/Share $238.86 Unrealized @ Report Date -35.1%

MGM MGM Resorts International 0.1%

Value $230K (-34.4%) Shares 7,409 (+1.0%) Share Price $31.05 Est. Cost/Share $41.58 Unrealized @ Report Date -25.3%

EMR Emerson Electric Co. 0.8%

Value $1.368M (+9.5%) Shares 8,819 (+1.0%) Share Price $155.10 Est. Cost/Share $65.83 Unrealized @ Report Date +135.6%

BABA Alibaba Group Holding Ltd. ADS 0.4%

Value $729K (+13.7%) Shares 6,780 (+1.5%) Share Price $107.54 Est. Cost/Share $125.13 Unrealized @ Report Date -14.1%

ZTS Zoetis Inc. 0.4%

Value $727K (+11.9%) Shares 10,416 (+15.2%) Share Price $69.83 Est. Cost/Share $103.54 Unrealized @ Report Date -32.6%

DMLP Dorchester Minerals LP 0.4%

Value $660K (+13.0%) Shares 23,553 (+1.8%) Share Price $28.04 Est. Cost/Share $16.44 Unrealized @ Report Date —

FAST Fastenal Co. 0.9%

Value $1.459M (+4.4%) Shares 29,460 (+1.2%) Share Price $49.53 Est. Cost/Share $33.28 Unrealized @ Report Date +48.8%

WES Western Midstream Partners, LP 1.0%

Value $1.616M (+3.5%) Shares 36,415 (+2.1%) Share Price $44.37 Est. Cost/Share $29.11 Unrealized @ Report Date —

GAIN Gladstone Investment Corp. 0.7%

Value $1.105M (+2.9%) Shares 70,832 (+2.0%) Share Price $15.60 Est. Cost/Share $8.15 Unrealized @ Report Date +91.5%

GVDNY Givaudan SA ADR 0.8%

Value $1.381M (-2.1%) Shares 16,990 (+1.8%) Share Price $81.27 Est. Cost/Share $44.96 Unrealized @ Report Date +80.8%

ATR AptarGroup, Inc. 0.8%

Value $1.284M (-1.9%) Shares 10,598 (+1.3%) Share Price $121.16 Est. Cost/Share $69.42 Unrealized @ Report Date +74.5%

NNN National Retail Properties 0.1%

Value $211K (-10.5%) Shares 5,142 (+1.4%) Share Price $41.09 Est. Cost/Share $42.16 Unrealized @ Report Date —

GGG Graco Inc. 0.4%

Value $632K (+3.1%) Shares 8,226 (+1.5%) Share Price $76.84 Est. Cost/Share $43.68 Unrealized @ Report Date +75.9%

DHI D.R. Horton, Inc. 0.1%

Value $203K (-8.1%) Shares 1,489 (+9.6%) Share Price $136.65 Est. Cost/Share $148.96 Unrealized @ Report Date -8.3%

GLP Global Partners LP 0.2%

Value $269K (+5.4%) Shares 5,818 (+6.0%) Share Price $46.30 Est. Cost/Share $46.57 Unrealized @ Report Date —

EPD Enterprise Products Partners L 0.9%

Value $1.485M (-0.8%) Shares 41,697 (+2.4%) Share Price $35.61 Est. Cost/Share $34.29 Unrealized @ Report Date —

USB U.S. Bancorp 0.2%

Value $282K (-3.3%) Shares 4,877 (+1.1%) Share Price $57.76 Est. Cost/Share $56.10 Unrealized @ Report Date +2.9%

HII Huntington Ingalls Industries, 0.1%

Value $243K (-3.2%) Shares 910 (+1.4%) Share Price $267.07 Est. Cost/Share $223.45 Unrealized @ Report Date +19.5%

RHHBY Roche Holding AG 0.1%

Value $213K (+2.7%) Shares 4,099 (+1.7%) Share Price $51.88 Est. Cost/Share $51.06 Unrealized @ Report Date +1.6%

— Compagnie Michelin 0.7%

Value $1.168M (+0.4%) Shares 30,552 (+1.2%) Share Price $38.24 Est. Cost/Share $30.57 Unrealized @ Report Date —

GOOGL Alphabet Inc. Class A 0.2%

Value $305K (-1.3%) Shares 886 (+2.5%) Share Price $344.08 Est. Cost/Share $212.62 Unrealized @ Report Date +61.8%

CHD Church & Dwight Company, Inc. 0.4%

Value $692K (-0.5%) Shares 7,344 (+2.3%) Share Price $94.22 Est. Cost/Share $51.35 Unrealized @ Report Date +83.5%

OKE ONEOK Inc. 0.2%

Value $299K (-0.8%) Shares 3,507 (+1.1%) Share Price $85.26 Est. Cost/Share $56.44 Unrealized @ Report Date +51.1%

ECL Ecolab, Inc. 0.6%

Value $1.064M (+0.1%) Shares 3,876 (+1.6%) Share Price $274.55 Est. Cost/Share $167.53 Unrealized @ Report Date +63.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
DLMAF	Dollarama Inc.	20,787 (+80.2%)	$2.687M (+74.6%)	1.6%	$129.27	$135.98	-5.1%	COM	25675T107
GUKYF	Gulf Keystone Petroleum LTD	513,587 (+143.3%)	$1.321M (+168.6%)	0.8%	$2.57	$2.38	+9.1%	COM	G4209G207
—	Gaztransport et Technigaz SAS	9,623 (+16.8%)	$2.338M (+33.7%)	1.4%	$242.95	$115.70	—	COM	ACI07W296
PAC	Grupo Aeroportuario Del Pacifi	12,156 (+3.7%)	$2.497M (-15.9%)	1.5%	$205.41	$113.09	+81.6%	ADR	400506101
HON	Honeywell International Inc.	4,005 (+89.3%)	$845K (+78.3%)	0.5%	$210.92	$217.75	—	COM	438516205
CME	CME Group Inc.	6,482 (+7.4%)	$1.698M (+27.4%)	1.0%	$261.96	$246.11	+6.5%	COM	12572Q105
MSFT	Microsoft Corp.	2,443 (+1.3%)	$1.253M (+39.3%)	0.8%	$512.92	$415.99	+23.3%	COM	594918104
SDZNY	Sandoz Group AG	6,542 (+179.5%)	$553K (+161.1%)	0.3%	$84.55	$84.40	+0.2%	ADR	799926100
MCD	McDonald's Corp.	7,902 (+2.0%)	$1.825M (-12.8%)	1.1%	$230.94	$147.54	+56.5%	COM	580135101
APA	APA Corp.	28,345 (+1.3%)	$1.177M (+29.2%)	0.7%	$41.54	$17.68	+135.0%	COM	03743Q108
LIN	Linde PLC	6,777 (+1.3%)	$3.216M (-7.3%)	1.9%	$474.62	$359.89	+31.9%	COM	G54950103
TXRH	Texas Roadhouse, Inc.	6,400 (+1.6%)	$1.001M (-17.8%)	0.6%	$156.33	$149.54	+4.5%	COM	882681109
NVDA	NVIDIA Corp.	3,726 (+16.6%)	$851K (+33.1%)	0.5%	$228.38	$139.83	+63.3%	COM	67066G104
CHRD	Chord Energy Corp.	9,444 (+1.2%)	$1.266M (+18.7%)	0.8%	$134.06	$125.68	+6.7%	COM	674215207
TNC	Tennant Co.	10,127 (+1.6%)	$681K (-22.0%)	0.4%	$67.22	$58.33	+15.2%	COM	880345103
RHUHF	Richelieu Hardware Ltd.	29,275 (+51.0%)	$742K (+33.3%)	0.4%	$25.36	$27.56	-6.8%	COM	76329W103
—	Commonwealth Bank of Australia	9,822 (+29.8%)	$1.031M (+19.5%)	0.6%	$104.93	$80.50	—	COM	621503002
T	AT&T Inc.	36,909 (+3.2%)	$901K (+21.6%)	0.5%	$24.40	$16.53	+47.6%	COM	00206R102
ET	Energy Transfer LP	81,911 (+6.3%)	$1.619M (+9.9%)	1.0%	$19.77	$12.33	—	UNIT LTD PARTN	29273V100
NDSN	Nordson Corp.	4,469 (+2.1%)	$1.465M (+10.9%)	0.9%	$327.89	$126.84	+158.5%	COM	655663102
GTY	Getty Realty Corp.	31,278 (+1.7%)	$883K (-13.9%)	0.5%	$28.24	$27.38	—	COM	374297109
HONA	Honeywell Aerospace Inc.	2,165 (+2.3%)	$336K (-28.3%)	0.2%	$154.97	$238.86	-35.1%	COM	43849R105
MGM	MGM Resorts International	7,409 (+1.0%)	$230K (-34.4%)	0.1%	$31.05	$41.58	-25.3%	COM	552953101
EMR	Emerson Electric Co.	8,819 (+1.0%)	$1.368M (+9.5%)	0.8%	$155.10	$65.83	+135.6%	COM	291011104
BABA	Alibaba Group Holding Ltd. ADS	6,780 (+1.5%)	$729K (+13.7%)	0.4%	$107.54	$125.13	-14.1%	ADR	01609W102
ZTS	Zoetis Inc.	10,416 (+15.2%)	$727K (+11.9%)	0.4%	$69.83	$103.54	-32.6%	COM	98978V103
DMLP	Dorchester Minerals LP	23,553 (+1.8%)	$660K (+13.0%)	0.4%	$28.04	$16.44	—	UNIT LTD PARTN	25820R105
FAST	Fastenal Co.	29,460 (+1.2%)	$1.459M (+4.4%)	0.9%	$49.53	$33.28	+48.8%	COM	311900104
WES	Western Midstream Partners, LP	36,415 (+2.1%)	$1.616M (+3.5%)	1.0%	$44.37	$29.11	—	UNIT LTD PARTN	958669103
GAIN	Gladstone Investment Corp.	70,832 (+2.0%)	$1.105M (+2.9%)	0.7%	$15.60	$8.15	+91.5%	COM	376546107
GVDNY	Givaudan SA ADR	16,990 (+1.8%)	$1.381M (-2.1%)	0.8%	$81.27	$44.96	+80.8%	ADR	37636P108
ATR	AptarGroup, Inc.	10,598 (+1.3%)	$1.284M (-1.9%)	0.8%	$121.16	$69.42	+74.5%	COM	038336103
NNN	National Retail Properties	5,142 (+1.4%)	$211K (-10.5%)	0.1%	$41.09	$42.16	—	COM	637417106
GGG	Graco Inc.	8,226 (+1.5%)	$632K (+3.1%)	0.4%	$76.84	$43.68	+75.9%	COM	384109104
DHI	D.R. Horton, Inc.	1,489 (+9.6%)	$203K (-8.1%)	0.1%	$136.65	$148.96	-8.3%	COM	23331A109
GLP	Global Partners LP	5,818 (+6.0%)	$269K (+5.4%)	0.2%	$46.30	$46.57	—	UNIT LTD PARTN	37946R109
EPD	Enterprise Products Partners L	41,697 (+2.4%)	$1.485M (-0.8%)	0.9%	$35.61	$34.29	—	UNIT LTD PARTN	293792107
USB	U.S. Bancorp	4,877 (+1.1%)	$282K (-3.3%)	0.2%	$57.76	$56.10	+2.9%	COM	902973304
HII	Huntington Ingalls Industries,	910 (+1.4%)	$243K (-3.2%)	0.1%	$267.07	$223.45	+19.5%	COM	446413106
RHHBY	Roche Holding AG	4,099 (+1.7%)	$213K (+2.7%)	0.1%	$51.88	$51.06	+1.6%	COM	771195104
—	Compagnie Michelin	30,552 (+1.2%)	$1.168M (+0.4%)	0.7%	$38.24	$30.57	—	COM	BPBPJ0907
GOOGL	Alphabet Inc. Class A	886 (+2.5%)	$305K (-1.3%)	0.2%	$344.08	$212.62	+61.8%	COM	02079K305
CHD	Church & Dwight Company, Inc.	7,344 (+2.3%)	$692K (-0.5%)	0.4%	$94.22	$51.35	+83.5%	COM	171340102
OKE	ONEOK Inc.	3,507 (+1.1%)	$299K (-0.8%)	0.2%	$85.26	$56.44	+51.1%	COM	682680103
ECL	Ecolab, Inc.	3,876 (+1.6%)	$1.064M (+0.1%)	0.6%	$274.55	$167.53	+63.9%	COM	278865100

Exited Positions (8)

ETN Eaton Corp. PLC 1.3%

Value $2.193M Shares 5,146 Share Price $426.13 Est. Cost/Share $221.90 Unrealized @ Report Date +93.6%

FISV Fiserv Inc. 0.9%

Value $1.549M Shares 31,579 Share Price $49.05 * Est. Cost/Share $71.89 Unrealized @ Report Date -37.2%

PMREF Primaris REIT 0.9%

Value $1.51M Shares 139,909 Share Price $10.79 Est. Cost/Share $10.51 Unrealized @ Report Date —

CHCT Community Healthcare Trust Inc 0.3%

Value $495K Shares 27,077 Share Price $18.28 Est. Cost/Share $39.11 Unrealized @ Report Date —

VTRS Viatris Inc. 0.2%

Value $379K Shares 23,866 Share Price $15.88 * Est. Cost/Share $9.88 Unrealized @ Report Date +79.4%

TTTRF Treatt PLC 0.2%

Value $295K Shares 72,963 Share Price $4.04 Est. Cost/Share $2.79 Unrealized @ Report Date —

— Precinct Properties New Zealan 0.1%

Value $240K Shares 405,912 Share Price $0.59 Est. Cost/Share $0.59 Unrealized @ Report Date —

— Coats Group PLC 0.0%

Value $30,370 Shares 29,376 Share Price $1.03 Est. Cost/Share $0.80 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ETN	Eaton Corp. PLC	5,146	$2.193M	1.3%	$426.13	$221.90	+93.6%	—	G29183103
FISV	Fiserv Inc.	31,579	$1.549M	0.9%	$49.05 *	$71.89	-37.2%	—	337738108
PMREF	Primaris REIT	139,909	$1.51M	0.9%	$10.79	$10.51	—	—	74167K109
CHCT	Community Healthcare Trust Inc	27,077	$495K	0.3%	$18.28	$39.11	—	—	20369C106
VTRS	Viatris Inc.	23,866	$379K	0.2%	$15.88 *	$9.88	+79.4%	—	92556V106
TTTRF	Treatt PLC	72,963	$295K	0.2%	$4.04	$2.79	—	—	G9026D113
—	Precinct Properties New Zealan	405,912	$240K	0.1%	$0.59	$0.59	—	—	q7740q104
—	Coats Group PLC	29,376	$30,370	0.0%	$1.03	$0.80	—	—	B4YZN3906

Decreased Positions (8)

LRCX Lam Research Corp. 2.8%

Value $4.616M (-47.2%) Shares 14,050 (-30.3%) Share Price $328.51 Est. Cost/Share $77.56 Unrealized @ Report Date +323.6%

KLAC KLA Corp. 2.7%

Value $4.522M (-45.7%) Shares 23,199 (-16.0%) Share Price $194.93 Est. Cost/Share $1374.69 Unrealized @ Report Date -85.8%

TSM Taiwan Semiconductor Manufactu 2.1%

Value $3.554M (-6.0%) Shares 7,791 (-1.6%) Share Price $456.19 Est. Cost/Share $110.41 Unrealized @ Report Date +313.2%

CMWAY Commonwealth Bank of Australia 0.4%

Value $599K (-10.2%) Shares 5,726 (-1.7%) Share Price $104.57 Est. Cost/Share $74.18 Unrealized @ Report Date +41.0%

UNH United Health Group Incorporat 0.1%

Value $233K (-12.6%) Shares 634 (-1.1%) Share Price $367.08 Est. Cost/Share $370.65 Unrealized @ Report Date -1.0%

FLS Flowserve Corp. 0.1%

Value $223K (-9.8%) Shares 3,044 (-8.6%) Share Price $73.12 Est. Cost/Share $64.61 Unrealized @ Report Date +13.2%

ZM Zoom Communications Inc. 0.2%

Value $275K (+3.8%) Shares 3,029 (-1.3%) Share Price $90.77 Est. Cost/Share $78.69 Unrealized @ Report Date +15.4%

— Indiva Limited ⚠ 0.0%

Value $0 Shares 105,000 (-1.9%) Share Price $0.00 Est. Cost/Share $0.20 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
LRCX	Lam Research Corp.	14,050 (-30.3%)	$4.616M (-47.2%)	2.8%	$328.51	$77.56	+323.6%	COM	512807306
KLAC	KLA Corp.	23,199 (-16.0%)	$4.522M (-45.7%)	2.7%	$194.93	$1374.69	-85.8%	COM	482480100
TSM	Taiwan Semiconductor Manufactu	7,791 (-1.6%)	$3.554M (-6.0%)	2.1%	$456.19	$110.41	+313.2%	ADR	874039100
CMWAY	Commonwealth Bank of Australia	5,726 (-1.7%)	$599K (-10.2%)	0.4%	$104.57	$74.18	+41.0%	COM	202712600
UNH	United Health Group Incorporat	634 (-1.1%)	$233K (-12.6%)	0.1%	$367.08	$370.65	-1.0%	COM	91324P102
FLS	Flowserve Corp.	3,044 (-8.6%)	$223K (-9.8%)	0.1%	$73.12	$64.61	+13.2%	COM	34354P105
ZM	Zoom Communications Inc.	3,029 (-1.3%)	$275K (+3.8%)	0.2%	$90.77	$78.69	+15.4%	COM	98980L101
—	Indiva Limited ⚠	105,000 (-1.9%)	$0	0.0%	$0.00	$0.20	—	COM	45580J101

Unchanged Positions (78)

AMAT Applied Material, Inc. 0.9%

Value $1.482M Shares 2,899 Share Price $511.38 Est. Cost/Share $125.86 Unrealized @ Report Date +306.3%

CLMB Climb Global Solutions Inc. 1.2%

Value $2.019M Shares 62,848 Share Price $32.13 Est. Cost/Share $68.42 Unrealized @ Report Date -53.0%

CMI Cummins Inc. 0.9%

Value $1.472M Shares 2,849 Share Price $516.63 Est. Cost/Share $143.58 Unrealized @ Report Date +259.8%

HUBB Hubbell Inc. 1.7%

Value $2.794M Shares 6,159 Share Price $453.63 Est. Cost/Share $151.98 Unrealized @ Report Date +198.5%

NVS Novartis AG ADR 2.2%

Value $3.663M Shares 25,696 Share Price $142.57 Est. Cost/Share $91.56 Unrealized @ Report Date +55.7%

META Meta Platforms, Inc. 1.0%

Value $1.585M Shares 2,186 Share Price $725.06 Est. Cost/Share $339.84 Unrealized @ Report Date +113.4%

SNA Snap-on Inc. 2.0%

Value $3.25M Shares 8,945 Share Price $363.34 Est. Cost/Share $144.71 Unrealized @ Report Date +151.1%

SKT Tanger Factory Outlet Centers, 1.3%

Value $2.228M Shares 64,968 Share Price $34.30 Est. Cost/Share $7.31 Unrealized @ Report Date —

GRMN Garmin LTD 1.1%

Value $1.858M Shares 6,478 Share Price $286.84 Est. Cost/Share $111.50 Unrealized @ Report Date +157.3%

GOOG Alphabet Inc. Class C 4.5%

Value $7.413M Shares 21,757 Share Price $340.74 Est. Cost/Share $113.23 Unrealized @ Report Date +200.9%

ADP Automatic Data Processing, Inc 1.4%

Value $2.244M Shares 8,697 Share Price $258.06 Est. Cost/Share $91.51 Unrealized @ Report Date +182.0%

— Sparebank 1 SR-Bank 1.0%

Value $1.658M Shares 70,407 Share Price $23.55 Est. Cost/Share $8.27 Unrealized @ Report Date —

GWW W.W. Grainger, Inc. 1.8%

Value $2.925M Shares 2,348 Share Price $1245.54 Est. Cost/Share $327.91 Unrealized @ Report Date +279.9%

— Straumann Holdings AG 0.8%

Value $1.357M Shares 12,384 Share Price $109.56 Est. Cost/Share $131.58 Unrealized @ Report Date —

WTFC Wintrust Financial Corp. 1.3%

Value $2.106M Shares 14,853 Share Price $141.82 Est. Cost/Share $126.97 Unrealized @ Report Date +11.7%

NBIS Nebius Group NV 0.9%

Value $1.532M Shares 6,495 Share Price $235.88 Est. Cost/Share $34.43 Unrealized @ Report Date +585.1%

HPE Hewlett Packard Enterprise Com 0.5%

Value $883K Shares 13,824 Share Price $63.89 Est. Cost/Share $23.44 Unrealized @ Report Date +172.6%

ATO Atmos Energy Corp. 1.6%

Value $2.581M Shares 16,499 Share Price $156.44 Est. Cost/Share $120.01 Unrealized @ Report Date +30.4%

AAPL Apple Inc. 0.9%

Value $1.537M Shares 4,614 Share Price $333.02 Est. Cost/Share $98.52 Unrealized @ Report Date +238.0%

ENB Enbridge Inc. 0.7%

Value $1.119M Shares 24,080 Share Price $46.49 Est. Cost/Share $24.83 Unrealized @ Report Date +87.2%

CVS CVS Health Corp. 0.5%

Value $861K Shares 10,049 Share Price $85.69 Est. Cost/Share $52.24 Unrealized @ Report Date +64.0%

VET Vermilion Energy Trust 0.6%

Value $933K Shares 81,912 Share Price $11.39 Est. Cost/Share $11.18 Unrealized @ Report Date +1.9%

TTE TotalEnergies SE ADR 1.0%

Value $1.705M Shares 19,944 Share Price $85.50 Est. Cost/Share $63.38 Unrealized @ Report Date +34.9%

LIFZF Labrador Iron Ore Royalty Corp 0.6%

Value $928K Shares 55,558 Share Price $16.71 Est. Cost/Share $21.84 Unrealized @ Report Date -23.5%

IRMD IRadimed Corp. 0.9%

Value $1.493M Shares 17,320 Share Price $86.22 Est. Cost/Share $47.31 Unrealized @ Report Date +82.3%

PLBC Plumas Bancorp 1.7%

Value $2.775M Shares 45,300 Share Price $61.26 Est. Cost/Share $42.94 Unrealized @ Report Date +42.7%

KMI Kinder Morgan, Inc. 1.3%

Value $2.221M Shares 73,649 Share Price $30.15 Est. Cost/Share $17.53 Unrealized @ Report Date +72.0%

SHEL Shell PLC ADR 0.4%

Value $710K Shares 7,471 Share Price $95.05 Est. Cost/Share $52.39 Unrealized @ Report Date +81.4%

AGYS Agilysys, Inc. 1.1%

Value $1.823M Shares 18,778 Share Price $97.08 Est. Cost/Share $52.03 Unrealized @ Report Date +86.6%

MTD Mettler-Toledo International, 0.4%

Value $725K Shares 480 Share Price $1510.95 Est. Cost/Share $464.06 Unrealized @ Report Date +225.6%

MGY Magnolia Oil & Gas Corp. 0.9%

Value $1.475M Shares 62,806 Share Price $23.49 Est. Cost/Share $15.80 Unrealized @ Report Date +48.6%

GTBIF Green Thumb Industries Inc. 0.4%

Value $638K Shares 95,990 Share Price $6.65 Est. Cost/Share $14.46 Unrealized @ Report Date -54.0%

GILD Gilead Sciences Inc 0.5%

Value $747K Shares 5,012 Share Price $149.05 Est. Cost/Share $58.94 Unrealized @ Report Date +152.9%

SHW Sherwin-Williams Co. 1.2%

Value $2.054M Shares 6,354 Share Price $323.26 Est. Cost/Share $167.48 Unrealized @ Report Date +93.0%

CPK Chesapeake Utilities Corp. 1.3%

Value $2.205M Shares 17,164 Share Price $128.46 Est. Cost/Share $76.00 Unrealized @ Report Date +69.0%

FBK FB Financial Corp. 0.9%

Value $1.476M Shares 28,540 Share Price $51.70 Est. Cost/Share $28.50 Unrealized @ Report Date +81.4%

— Keyera Corp. 0.4%

Value $690K Shares 19,240 Share Price $35.88 Est. Cost/Share $25.35 Unrealized @ Report Date —

LNG Cheniere Energy, Inc. 0.4%

Value $677K Shares 2,516 Share Price $269.03 Est. Cost/Share $172.42 Unrealized @ Report Date +56.0%

TMTNF Toromont Industries Ltd. 1.9%

Value $3.078M Shares 19,331 Share Price $159.24 Est. Cost/Share $84.70 Unrealized @ Report Date +87.8%

ABNB Airbnb Inc. 0.4%

Value $615K Shares 3,831 Share Price $160.65 Est. Cost/Share $127.58 Unrealized @ Report Date +25.9%

NXPI NXP Semiconductors N.V. 0.2%

Value $384K Shares 1,618 Share Price $237.53 Est. Cost/Share $221.12 Unrealized @ Report Date +7.4%

PYPL PayPal Holdings, Inc. 0.2%

Value $327K Shares 6,230 Share Price $52.53 Est. Cost/Share $69.78 Unrealized @ Report Date -24.7%

VZ Verizon Communications Inc. 0.4%

Value $707K Shares 15,403 Share Price $45.87 Est. Cost/Share $33.98 Unrealized @ Report Date +35.0%

ITT ITT Corp. 1.8%

Value $3.06M Shares 15,160 Share Price $201.82 Est. Cost/Share $45.94 Unrealized @ Report Date +339.3%

AVGO Broadcom Inc. 0.4%

Value $736K Shares 2,095 Share Price $351.19 Est. Cost/Share $167.27 Unrealized @ Report Date +110.0%

— Schneider Electric SA 1.9%

Value $3.135M Shares 9,476 Share Price $330.88 Est. Cost/Share $96.42 Unrealized @ Report Date —

DDOG Datadog, Inc. 0.6%

Value $963K Shares 3,518 Share Price $273.85 Est. Cost/Share $123.10 Unrealized @ Report Date +122.5%

NHI National Health Investors, Inc 0.2%

Value $297K Shares 4,532 Share Price $65.63 Est. Cost/Share $65.45 Unrealized @ Report Date —

SIRI Sirius XM Holdings 0.2%

Value $297K Shares 11,482 Share Price $25.88 Est. Cost/Share $26.87 Unrealized @ Report Date -3.7%

TCNNF Trulieve Cannabis Corp 0.3%

Value $427K Shares 39,203 Share Price $10.90 * Est. Cost/Share $21.82 Unrealized @ Report Date -60.5%

CALM Cal-Maine Foods Inc. 0.1%

Value $228K Shares 3,344 Share Price $68.06 Est. Cost/Share $77.20 Unrealized @ Report Date -11.8%

C Citigroup Inc. 0.3%

Value $495K Shares 3,824 Share Price $129.48 Est. Cost/Share $67.74 Unrealized @ Report Date +91.1%

VRSN VeriSign, Inc. 0.2%

Value $347K Shares 1,229 Share Price $282.01 Est. Cost/Share $225.24 Unrealized @ Report Date +25.2%

PSA Public Storage 0.2%

Value $277K Shares 980 Share Price $282.84 Est. Cost/Share $260.76 Unrealized @ Report Date —

PH Parker Hannifin Corp. 1.2%

Value $2.009M Shares 2,102 Share Price $955.63 Est. Cost/Share $152.83 Unrealized @ Report Date +525.1%

BMY Bristol Myers Squibb Co. 0.3%

Value $448K Shares 7,175 Share Price $62.40 Est. Cost/Share $49.76 Unrealized @ Report Date +25.4%

NSC Norfolk & Southern Corp. 1.1%

Value $1.8M Shares 5,827 Share Price $308.99 Est. Cost/Share $77.07 Unrealized @ Report Date +300.9%

CF CF Industries Holdings, Inc. 0.2%

Value $327K Shares 2,842 Share Price $115.20 Est. Cost/Share $76.75 Unrealized @ Report Date +50.1%

BHP BHP LTD ADR 0.6%

Value $1.007M Shares 11,865 Share Price $84.84 Est. Cost/Share $60.22 Unrealized @ Report Date +40.9%

CRLBF Cresco Labs 0.0%

Value $55,718 Shares 87,195 Share Price $0.64 Est. Cost/Share $7.81 Unrealized @ Report Date -91.8%

— Sabre Insurance Group PLC 1.0%

Value $1.595M Shares 682,891 Share Price $2.34 Est. Cost/Share $1.68 Unrealized @ Report Date —

ADM Archer Daniels Midland 0.3%

Value $417K Shares 5,254 Share Price $79.38 Est. Cost/Share $47.47 Unrealized @ Report Date +67.2%

CURLF Curaleaf Holdings, Inc. 0.2%

Value $257K Shares 25,009 Share Price $10.26 Est. Cost/Share $10.81 Unrealized @ Report Date —

PAYX Paychex, Inc. 1.1%

Value $1.858M Shares 18,861 Share Price $98.50 Est. Cost/Share $76.04 Unrealized @ Report Date +29.5%

— Banco del Bajio SA 1.0%

Value $1.588M Shares 496,316 Share Price $3.20 Est. Cost/Share $1.78 Unrealized @ Report Date —

V Visa Inc. 0.2%

Value $257K Shares 715 Share Price $359.33 Est. Cost/Share $299.24 Unrealized @ Report Date +20.1%

SIEGY Siemens Aktiengesellschaft 0.2%

Value $317K Shares 2,038 Share Price $155.30 Est. Cost/Share $113.69 Unrealized @ Report Date +36.6%

MGDDY Michelin ADR 0.5%

Value $794K Shares 41,823 Share Price $18.99 Est. Cost/Share $15.35 Unrealized @ Report Date +23.8%

LUNMF Lundin Mining Corporation 0.3%

Value $416K Shares 17,445 Share Price $23.85 Est. Cost/Share $8.96 Unrealized @ Report Date +166.3%

AME Ametek, Inc. 0.2%

Value $269K Shares 1,084 Share Price $247.73 Est. Cost/Share $171.25 Unrealized @ Report Date +44.7%

OMC Omnicom Group 0.2%

Value $352K Shares 4,785 Share Price $73.63 Est. Cost/Share $60.79 Unrealized @ Report Date +21.1%

MRNFF Meren Energy Inc. 0.0%

Value $59,200 Shares 40,000 Share Price $1.48 Est. Cost/Share $1.27 Unrealized @ Report Date +16.1%

LECO Lincoln Electric Holdings, Inc 1.1%

Value $1.849M Shares 6,989 Share Price $264.57 Est. Cost/Share $110.24 Unrealized @ Report Date +140.0%

AYRWF AYR Wellness Inc. ⚠ 0.0%

Value $0 Shares 12,946 Share Price $0.00 Est. Cost/Share $4.36 Unrealized @ Report Date -99.9%

ROSYY Rostelecom Long Distance ADR ⚠ 0.0%

Value $0 Shares 46,000 Share Price $0.00 Est. Cost/Share $7.57 Unrealized @ Report Date —

CBSTF Cannabist Company Holdings Inc ⚠ 0.0%

Value $0 Shares 35,390 Share Price $0.00 Est. Cost/Share $0.50 Unrealized @ Report Date —

— Novolipetsk GDR ⚠ 0.0%

Value $0 Shares 15,295 Share Price $0.00 Est. Cost/Share $20.36 Unrealized @ Report Date —

— Credito Real Sofom ENR ⚠ 0.0%

Value $0 Shares 913,094 Share Price $0.00 Est. Cost/Share $0.79 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMAT	Applied Material, Inc.	2,899	$1.482M	0.9%	$511.38	$125.86	+306.3%	COM	038222105
CLMB	Climb Global Solutions Inc.	62,848	$2.019M	1.2%	$32.13	$68.42	-53.0%	COM	946760105
CMI	Cummins Inc.	2,849	$1.472M	0.9%	$516.63	$143.58	+259.8%	COM	231021106
HUBB	Hubbell Inc.	6,159	$2.794M	1.7%	$453.63	$151.98	+198.5%	COM	443510607
NVS	Novartis AG ADR	25,696	$3.663M	2.2%	$142.57	$91.56	+55.7%	ADR	66987V109
META	Meta Platforms, Inc.	2,186	$1.585M	1.0%	$725.06	$339.84	+113.4%	COM	30303M102
SNA	Snap-on Inc.	8,945	$3.25M	2.0%	$363.34	$144.71	+151.1%	COM	833034101
SKT	Tanger Factory Outlet Centers,	64,968	$2.228M	1.3%	$34.30	$7.31	—	COM	875465106
GRMN	Garmin LTD	6,478	$1.858M	1.1%	$286.84	$111.50	+157.3%	COM	H2906T109
GOOG	Alphabet Inc. Class C	21,757	$7.413M	4.5%	$340.74	$113.23	+200.9%	COM	02079K107
ADP	Automatic Data Processing, Inc	8,697	$2.244M	1.4%	$258.06	$91.51	+182.0%	COM	053015103
—	Sparebank 1 SR-Bank	70,407	$1.658M	1.0%	$23.55	$8.27	—	COM	B40JTQ902
GWW	W.W. Grainger, Inc.	2,348	$2.925M	1.8%	$1245.54	$327.91	+279.9%	COM	384802104
—	Straumann Holdings AG	12,384	$1.357M	0.8%	$109.56	$131.58	—	COM	715683900
WTFC	Wintrust Financial Corp.	14,853	$2.106M	1.3%	$141.82	$126.97	+11.7%	COM	97650W108
NBIS	Nebius Group NV	6,495	$1.532M	0.9%	$235.88	$34.43	+585.1%	COM	N97284108
HPE	Hewlett Packard Enterprise Com	13,824	$883K	0.5%	$63.89	$23.44	+172.6%	COM	42824C109
ATO	Atmos Energy Corp.	16,499	$2.581M	1.6%	$156.44	$120.01	+30.4%	COM	049560105
AAPL	Apple Inc.	4,614	$1.537M	0.9%	$333.02	$98.52	+238.0%	COM	037833100
ENB	Enbridge Inc.	24,080	$1.119M	0.7%	$46.49	$24.83	+87.2%	COM	29250N105
CVS	CVS Health Corp.	10,049	$861K	0.5%	$85.69	$52.24	+64.0%	COM	126650100
VET	Vermilion Energy Trust	81,912	$933K	0.6%	$11.39	$11.18	+1.9%	COM	923725105
TTE	TotalEnergies SE ADR	19,944	$1.705M	1.0%	$85.50	$63.38	+34.9%	ADR	F92124100
LIFZF	Labrador Iron Ore Royalty Corp	55,558	$928K	0.6%	$16.71	$21.84	-23.5%	COM	505440107
IRMD	IRadimed Corp.	17,320	$1.493M	0.9%	$86.22	$47.31	+82.3%	COM	46266A109
PLBC	Plumas Bancorp	45,300	$2.775M	1.7%	$61.26	$42.94	+42.7%	COM	729273102
KMI	Kinder Morgan, Inc.	73,649	$2.221M	1.3%	$30.15	$17.53	+72.0%	COM	49456B101
SHEL	Shell PLC ADR	7,471	$710K	0.4%	$95.05	$52.39	+81.4%	ADR	780259305
AGYS	Agilysys, Inc.	18,778	$1.823M	1.1%	$97.08	$52.03	+86.6%	COM	00847J105
MTD	Mettler-Toledo International,	480	$725K	0.4%	$1510.95	$464.06	+225.6%	COM	592688105
MGY	Magnolia Oil & Gas Corp.	62,806	$1.475M	0.9%	$23.49	$15.80	+48.6%	COM	559663109
GTBIF	Green Thumb Industries Inc.	95,990	$638K	0.4%	$6.65	$14.46	-54.0%	COM	39342L108
GILD	Gilead Sciences Inc	5,012	$747K	0.5%	$149.05	$58.94	+152.9%	COM	375558103
SHW	Sherwin-Williams Co.	6,354	$2.054M	1.2%	$323.26	$167.48	+93.0%	COM	824348106
CPK	Chesapeake Utilities Corp.	17,164	$2.205M	1.3%	$128.46	$76.00	+69.0%	COM	165303108
FBK	FB Financial Corp.	28,540	$1.476M	0.9%	$51.70	$28.50	+81.4%	COM	30257X104
—	Keyera Corp.	19,240	$690K	0.4%	$35.88	$25.35	—	COM	593271951
LNG	Cheniere Energy, Inc.	2,516	$677K	0.4%	$269.03	$172.42	+56.0%	COM	16411R208
TMTNF	Toromont Industries Ltd.	19,331	$3.078M	1.9%	$159.24	$84.70	+87.8%	COM	891102105
ABNB	Airbnb Inc.	3,831	$615K	0.4%	$160.65	$127.58	+25.9%	COM	009066101
NXPI	NXP Semiconductors N.V.	1,618	$384K	0.2%	$237.53	$221.12	+7.4%	COM	N6596X109
PYPL	PayPal Holdings, Inc.	6,230	$327K	0.2%	$52.53	$69.78	-24.7%	COM	70450Y103
VZ	Verizon Communications Inc.	15,403	$707K	0.4%	$45.87	$33.98	+35.0%	COM	92343V104
ITT	ITT Corp.	15,160	$3.06M	1.8%	$201.82	$45.94	+339.3%	COM	45073V108
AVGO	Broadcom Inc.	2,095	$736K	0.4%	$351.19	$167.27	+110.0%	COM	11135F101
—	Schneider Electric SA	9,476	$3.135M	1.9%	$330.88	$96.42	—	COM	483410007
DDOG	Datadog, Inc.	3,518	$963K	0.6%	$273.85	$123.10	+122.5%	COM	23804L103
NHI	National Health Investors, Inc	4,532	$297K	0.2%	$65.63	$65.45	—	COM	63633D104
SIRI	Sirius XM Holdings	11,482	$297K	0.2%	$25.88	$26.87	-3.7%	COM	829933100
TCNNF	Trulieve Cannabis Corp	39,203	$427K	0.3%	$10.90 *	$21.82	-60.5%	COM	89788C104
CALM	Cal-Maine Foods Inc.	3,344	$228K	0.1%	$68.06	$77.20	-11.8%	COM	128030202
C	Citigroup Inc.	3,824	$495K	0.3%	$129.48	$67.74	+91.1%	COM	172967424
VRSN	VeriSign, Inc.	1,229	$347K	0.2%	$282.01	$225.24	+25.2%	COM	92343E102
PSA	Public Storage	980	$277K	0.2%	$282.84	$260.76	—	COM	74460D109
PH	Parker Hannifin Corp.	2,102	$2.009M	1.2%	$955.63	$152.83	+525.1%	COM	701094104
BMY	Bristol Myers Squibb Co.	7,175	$448K	0.3%	$62.40	$49.76	+25.4%	COM	110122108
NSC	Norfolk & Southern Corp.	5,827	$1.8M	1.1%	$308.99	$77.07	+300.9%	COM	655844108
CF	CF Industries Holdings, Inc.	2,842	$327K	0.2%	$115.20	$76.75	+50.1%	COM	125269100
BHP	BHP LTD ADR	11,865	$1.007M	0.6%	$84.84	$60.22	+40.9%	ADR	088606108
CRLBF	Cresco Labs	87,195	$55,718	0.0%	$0.64	$7.81	-91.8%	COM	22587M106
—	Sabre Insurance Group PLC	682,891	$1.595M	1.0%	$2.34	$1.68	—	COM	BYWVDP903
ADM	Archer Daniels Midland	5,254	$417K	0.3%	$79.38	$47.47	+67.2%	COM	039483102
CURLF	Curaleaf Holdings, Inc.	25,009	$257K	0.2%	$10.26	$10.81	—	COM	23126M300
PAYX	Paychex, Inc.	18,861	$1.858M	1.1%	$98.50	$76.04	+29.5%	COM	704326107
—	Banco del Bajio SA	496,316	$1.588M	1.0%	$3.20	$1.78	—	COM	ACI0VM9Y9
V	Visa Inc.	715	$257K	0.2%	$359.33	$299.24	+20.1%	COM	92826C839
SIEGY	Siemens Aktiengesellschaft	2,038	$317K	0.2%	$155.30	$113.69	+36.6%	COM	826197501
MGDDY	Michelin ADR	41,823	$794K	0.5%	$18.99	$15.35	+23.8%	ADR	59410T106
LUNMF	Lundin Mining Corporation	17,445	$416K	0.3%	$23.85	$8.96	+166.3%	COM	550372106
AME	Ametek, Inc.	1,084	$269K	0.2%	$247.73	$171.25	+44.7%	COM	031100100
OMC	Omnicom Group	4,785	$352K	0.2%	$73.63	$60.79	+21.1%	COM	681919106
MRNFF	Meren Energy Inc.	40,000	$59,200	0.0%	$1.48	$1.27	+16.1%	COM	588914101
LECO	Lincoln Electric Holdings, Inc	6,989	$1.849M	1.1%	$264.57	$110.24	+140.0%	COM	533900106
AYRWF	AYR Wellness Inc. ⚠	12,946	$0	0.0%	$0.00	$4.36	-99.9%	COM	05475P109
ROSYY	Rostelecom Long Distance ADR ⚠	46,000	$0	0.0%	$0.00	$7.57	—	ADR	778529107
CBSTF	Cannabist Company Holdings Inc ⚠	35,390	$0	0.0%	$0.00	$0.50	—	COM	13765Y103
—	Novolipetsk GDR ⚠	15,295	$0	0.0%	$0.00	$20.36	—	ADR	B0RTNX900
—	Credito Real Sofom ENR ⚠	913,094	$0	0.0%	$0.00	$0.79	—	COM	B8DST5905