Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ZTS	ZOETIS, INC.	556,056	$39.96M	3.0%	$71.86	—	COM	98978V103
DEO	DIAGEO P L C - ADR	126,176	$10.14M	0.8%	$80.38	—	ADR	25243Q205
DIS	DISNEY WALT COMPANY HOLDING CO	44,975	$4.329M	0.3%	$96.25	—	COM	254687106
BNS	BANK OF NOVA SCOTIA	42,479	$3.691M	0.3%	$86.89	—	COM	064149107
CSCO	CISCO SYSTEMS INC	29,397	$3.453M	0.3%	$117.46	—	COM	17275R102
EVTC	EVERTEC INC	88,487	$2.458M	0.2%	$27.78	—	COM	30040P103
LULU	LULULEMON ATHLETICA INC	17,963	$2.051M	0.2%	$114.18	—	COM	550021109
THO	THOR INDUSTRIES INC.	26,526	$1.994M	0.2%	$75.16	—	COM	885160101
CAG	CONAGRA BRANDS INC	146,196	$1.968M	0.1%	$13.46	—	COM	205887102
GLOB	GLOBANT SA	61,306	$1.774M	0.1%	$28.94	—	COM	L44385109
BLDR	BUILDERS FIRSTSOURCE INC	19,598	$1.754M	0.1%	$89.48	—	COM	12008R107
SCVL	SHOE STATION GROUP INC	116,763	$1.732M	0.1%	$14.83	—	COM	824889109
ASGN	EVERFORTH INC	87,577	$1.565M	0.1%	$17.87	—	COM	00191U102
FDXF	FEDEX HOLDINGS CO INC	2,206	$333K	0.0%	$150.97	—	COM	314352105
INTC	INTEL CORP	1,500	$209K	0.0%	$139.63	—	COM	458140100

Increased Positions (39)

PNC PNC FINANCIAL SERVICES GROUP INC. 0.2%

Value $3.254M (+66.1%) Shares 13,214 (+40.4%) Est. Cost $217.46 Unrealized —

GIII G III APPAREL 0.2%

Value $2.886M (+72.3%) Shares 85,600 (+41.6%) Est. Cost $29.19 Unrealized —

CROX CROCS INC 0.2%

Value $2.314M (+98.9%) Shares 19,181 (+36.9%) Est. Cost $99.97 Unrealized —

VSNT VERSANT MEDIA GROUP INC 0.2%

Value $2.497M (+79.0%) Shares 69,343 (+84.0%) Est. Cost $33.91 Unrealized —

ELV ELEVANCE HEALTH 0.2%

Value $2.482M (+76.8%) Shares 6,417 (+33.8%) Est. Cost $341.20 Unrealized —

ARW ARROW ELECTRIC 0.2%

Value $2.74M (+63.7%) Shares 12,839 (+10.0%) Est. Cost $132.56 Unrealized —

CNC CENTENE CORP 0.1%

Value $1.613M (+159.8%) Shares 25,121 (+32.5%) Est. Cost $48.34 Unrealized —

SIRI SIRIUS XM HOLDINGS INC 0.1%

Value $1.964M (+81.5%) Shares 66,492 (+41.8%) Est. Cost $24.06 Unrealized —

ALLY ALLY FINANCIAL 0.2%

Value $2.173M (+65.3%) Shares 47,288 (+41.1%) Est. Cost $43.66 Unrealized —

DINO HF SINCLAIR CORP 0.2%

Value $2.711M (+46.2%) Shares 38,922 (+31.0%) Est. Cost $51.81 Unrealized —

HTLD HEARTLAND EXPRESS INC. 0.2%

Value $2.102M (+59.6%) Shares 138,119 (+9.1%) Est. Cost $10.05 Unrealized —

COP CONOCOPHILLIPS 0.3%

Value $3.341M (-17.6%) Shares 32,137 (+4.7%) Est. Cost $65.54 Unrealized —

UNH UNITEDHEALTH GROUP 0.1%

Value $1.7M (+71.3%) Shares 4,089 (+11.5%) Est. Cost $337.23 Unrealized —

AMN AMN HEALTHCARE SERVICES INC 0.1%

Value $1.207M (+135.4%) Shares 37,299 (+33.4%) Est. Cost $22.41 Unrealized —

KVUE KENVUE INC. 0.1%

Value $1.394M (+97.7%) Shares 72,949 (+78.3%) Est. Cost $20.19 Unrealized —

ARLP ALLIANCE RESOURCE PARTNERS LP 0.2%

Value $2.678M (+33.8%) Shares 111,658 (+54.3%) Est. Cost $25.49 Unrealized —

CI CIGNA CORP. 0.2%

Value $2.107M (+47.0%) Shares 7,644 (+42.2%) Est. Cost $279.21 Unrealized —

ABG ASBURY AUTO GROUP 0.2%

Value $2.072M (+46.2%) Shares 10,305 (+42.1%) Est. Cost $225.96 Unrealized —

ALSN ALLISON TRANSMISSION HLD 0.2%

Value $2.457M (+32.9%) Shares 21,791 (+38.0%) Est. Cost $101.10 Unrealized —

WU WESTERN UNION 0.2%

Value $2.098M (+38.6%) Shares 272,476 (+57.1%) Est. Cost $8.14 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.2%

Value $2.165M (+36.5%) Shares 37,570 (+43.6%) Est. Cost $52.60 Unrealized —

BZH BEAZER HOMES USA 0.1%

Value $1.527M (+57.1%) Shares 54,435 (+7.7%) Est. Cost $23.61 Unrealized —

LW LAMB WESTON HOLDINGS INC 0.1%

Value $1.61M (+46.7%) Shares 37,275 (+43.6%) Est. Cost $48.73 Unrealized —

AAP ADVANCE AUTO PARTS INC. 0.1%

Value $1.687M (+32.3%) Shares 27,118 (+12.2%) Est. Cost $50.64 Unrealized —

LKQ LKQ CORP 0.1%

Value $1.634M (+30.5%) Shares 62,066 (+45.5%) Est. Cost $31.09 Unrealized —

TAP MOLSON COORS BREWING COMPANY 0.1%

Value $1.742M (+27.4%) Shares 44,702 (+40.8%) Est. Cost $44.77 Unrealized —

KT KT CORP - ADR 0.3%

Value $3.852M (+7.4%) Shares 222,892 (+33.3%) Est. Cost $19.63 Unrealized —

UPS UNITED PARCEL SERVICE 0.1%

Value $1.788M (+17.1%) Shares 16,630 (+7.2%) Est. Cost $97.20 Unrealized —

NTR NUTRIEN LTD 0.2%

Value $2.351M (-8.5%) Shares 37,327 (+9.3%) Est. Cost $62.62 Unrealized —

OEC ORION SA 0.0%

Value $600K (+51.1%) Shares 90,520 (+48.1%) Est. Cost $7.98 Unrealized —

TDW TIDEWATER INC 0.1%

Value $1.969M (-9.1%) Shares 29,555 (+14.0%) Est. Cost $55.69 Unrealized —

LPG DORIAN LPG LIMITED 0.1%

Value $1.388M (+14.4%) Shares 39,902 (+12.5%) Est. Cost $28.50 Unrealized —

REZI RESIDEO TECHNOLOGIES 0.2%

Value $2.636M (+6.2%) Shares 84,748 (+15.1%) Est. Cost $30.47 Unrealized —

DVN DEVON ENERGY CORP 0.1%

Value $1.411M (+9.4%) Shares 34,147 (+33.3%) Est. Cost $36.90 Unrealized —

HAFN HAFNIA LTD 0.2%

Value $2.752M (-3.9%) Shares 414,383 (+9.9%) Est. Cost $5.87 Unrealized —

MTDR MATADOR RESOURCES CO. 0.1%

Value $1.887M (+5.6%) Shares 37,901 (+34.0%) Est. Cost $46.75 Unrealized —

HP HELMERICH & PAYNE 0.1%

Value $1.71M (-1.6%) Shares 52,236 (+8.3%) Est. Cost $25.16 Unrealized —

FMC FMC CORP. 0.0%

Value $505K (-5.0%) Shares 43,935 (+42.3%) Est. Cost $36.93 Unrealized —

BSM BLACKSTONE MINE 0.1%

Value $1.167M (-0.2%) Shares 83,530 (+8.0%) Est. Cost $13.85 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PNC	PNC FINANCIAL SERVICES GROUP INC.	13,214 (+40.4%)	$3.254M (+66.1%)	0.2%	$217.46	—	COM	693475105
GIII	G III APPAREL	85,600 (+41.6%)	$2.886M (+72.3%)	0.2%	$29.19	—	COM	36237H101
CROX	CROCS INC	19,181 (+36.9%)	$2.314M (+98.9%)	0.2%	$99.97	—	COM	227046109
VSNT	VERSANT MEDIA GROUP INC	69,343 (+84.0%)	$2.497M (+79.0%)	0.2%	$33.91	—	COM	925283103
ELV	ELEVANCE HEALTH	6,417 (+33.8%)	$2.482M (+76.8%)	0.2%	$341.20	—	COM	036752103
ARW	ARROW ELECTRIC	12,839 (+10.0%)	$2.74M (+63.7%)	0.2%	$132.56	—	COM	042735100
CNC	CENTENE CORP	25,121 (+32.5%)	$1.613M (+159.8%)	0.1%	$48.34	—	COM	15135B101
SIRI	SIRIUS XM HOLDINGS INC	66,492 (+41.8%)	$1.964M (+81.5%)	0.1%	$24.06	—	COM	829933100
ALLY	ALLY FINANCIAL	47,288 (+41.1%)	$2.173M (+65.3%)	0.2%	$43.66	—	COM	02005N100
DINO	HF SINCLAIR CORP	38,922 (+31.0%)	$2.711M (+46.2%)	0.2%	$51.81	—	COM	403949100
HTLD	HEARTLAND EXPRESS INC.	138,119 (+9.1%)	$2.102M (+59.6%)	0.2%	$10.05	—	COM	422347104
COP	CONOCOPHILLIPS	32,137 (+4.7%)	$3.341M (-17.6%)	0.3%	$65.54	—	COM	20825C104
UNH	UNITEDHEALTH GROUP	4,089 (+11.5%)	$1.7M (+71.3%)	0.1%	$337.23	—	COM	91324P102
AMN	AMN HEALTHCARE SERVICES INC	37,299 (+33.4%)	$1.207M (+135.4%)	0.1%	$22.41	—	COM	001744101
KVUE	KENVUE INC.	72,949 (+78.3%)	$1.394M (+97.7%)	0.1%	$20.19	—	COM	49177J102
ARLP	ALLIANCE RESOURCE PARTNERS LP	111,658 (+54.3%)	$2.678M (+33.8%)	0.2%	$25.49	—	COM	01877R108
CI	CIGNA CORP.	7,644 (+42.2%)	$2.107M (+47.0%)	0.2%	$279.21	—	COM	125523100
ABG	ASBURY AUTO GROUP	10,305 (+42.1%)	$2.072M (+46.2%)	0.2%	$225.96	—	COM	043436104
ALSN	ALLISON TRANSMISSION HLD	21,791 (+38.0%)	$2.457M (+32.9%)	0.2%	$101.10	—	COM	01973R101
WU	WESTERN UNION	272,476 (+57.1%)	$2.098M (+38.6%)	0.2%	$8.14	—	COM	959802109
BMY	BRISTOL-MYERS SQUIBB CO	37,570 (+43.6%)	$2.165M (+36.5%)	0.2%	$52.60	—	COM	110122108
BZH	BEAZER HOMES USA	54,435 (+7.7%)	$1.527M (+57.1%)	0.1%	$23.61	—	COM	07556Q881
LW	LAMB WESTON HOLDINGS INC	37,275 (+43.6%)	$1.61M (+46.7%)	0.1%	$48.73	—	COM	513272104
AAP	ADVANCE AUTO PARTS INC.	27,118 (+12.2%)	$1.687M (+32.3%)	0.1%	$50.64	—	COM	00751Y106
LKQ	LKQ CORP	62,066 (+45.5%)	$1.634M (+30.5%)	0.1%	$31.09	—	COM	501889208
TAP	MOLSON COORS BREWING COMPANY	44,702 (+40.8%)	$1.742M (+27.4%)	0.1%	$44.77	—	COM	60871R209
KT	KT CORP - ADR	222,892 (+33.3%)	$3.852M (+7.4%)	0.3%	$19.63	—	COM	48268K101
UPS	UNITED PARCEL SERVICE	16,630 (+7.2%)	$1.788M (+17.1%)	0.1%	$97.20	—	COM	911312106
NTR	NUTRIEN LTD	37,327 (+9.3%)	$2.351M (-8.5%)	0.2%	$62.62	—	COM	67077M108
OEC	ORION SA	90,520 (+48.1%)	$600K (+51.1%)	0.0%	$7.98	—	COM	L72967109
TDW	TIDEWATER INC	29,555 (+14.0%)	$1.969M (-9.1%)	0.1%	$55.69	—	COM	88642R109
LPG	DORIAN LPG LIMITED	39,902 (+12.5%)	$1.388M (+14.4%)	0.1%	$28.50	—	COM	Y2106R110
REZI	RESIDEO TECHNOLOGIES	84,748 (+15.1%)	$2.636M (+6.2%)	0.2%	$30.47	—	COM	76118Y104
DVN	DEVON ENERGY CORP	34,147 (+33.3%)	$1.411M (+9.4%)	0.1%	$36.90	—	COM	25179M103
HAFN	HAFNIA LTD	414,383 (+9.9%)	$2.752M (-3.9%)	0.2%	$5.87	—	COM	Y2990R101
MTDR	MATADOR RESOURCES CO.	37,901 (+34.0%)	$1.887M (+5.6%)	0.1%	$46.75	—	COM	576485205
HP	HELMERICH & PAYNE	52,236 (+8.3%)	$1.71M (-1.6%)	0.1%	$25.16	—	COM	423452101
FMC	FMC CORP.	43,935 (+42.3%)	$505K (-5.0%)	0.0%	$36.93	—	COM	302491303
BSM	BLACKSTONE MINE	83,530 (+8.0%)	$1.167M (-0.2%)	0.1%	$13.85	—	COM	09225M101

Exited Positions (17)

SEE SEALED AIR CORPORATION 1.4%

Value $18.01M Shares 509,581 Est. Cost $38.08 Unrealized —

— DIAGEO P L C - ADR 0.7%

Value $9.396M Shares 126,211 Est. Cost $107.32 Unrealized —

SNEX STONEX GROUP, INC. 0.3%

Value $4.358M Shares 54,035 Est. Cost $106.32 Unrealized —

— CISCO SYSTEMS INC 0.3%

Value $4.283M Shares 55,199 Est. Cost $55.76 Unrealized —

NE NOBLE CORP PLC 0.2%

Value $2.671M Shares 54,434 Est. Cost $29.98 Unrealized —

TRMD TORM PLC-A 0.2%

Value $2.592M Shares 92,911 Est. Cost $21.05 Unrealized —

BFH BREAD FINANCIAL HOLDINGS, INC. 0.2%

Value $2.341M Shares 31,262 Est. Cost $63.39 Unrealized —

ZION ZIONS BANCORPORATION N.A. 0.2%

Value $2.182M Shares 37,877 Est. Cost $55.94 Unrealized —

HCI HCI GROUP INC 0.2%

Value $2.091M Shares 10,906 Est. Cost $155.56 Unrealized —

EPD ENTERPRISE PRODUCTS PARTNERS 0.1%

Value $1.951M Shares 51,549 Est. Cost $19.59 Unrealized —

AGCO AGCO CORP. 0.1%

Value $1.929M Shares 16,647 Est. Cost $108.97 Unrealized —

TSN TYSON FOODS 0.1%

Value $1.674M Shares 26,123 Est. Cost $57.76 Unrealized —

FIBK FIRST INTERSTATE BANCSYSTEM INC 0.1%

Value $1.649M Shares 49,370 Est. Cost $31.44 Unrealized —

SFNC SIMMONS FIRS NATIONAL CORP-A 0.1%

Value $1.501M Shares 77,193 Est. Cost $19.69 Unrealized —

CVS CVS CORP. 0.1%

Value $1.374M Shares 19,132 Est. Cost $71.58 Unrealized —

EMBC EMBECTA CORP 0.1%

Value $666K Shares 75,356 Est. Cost $11.63 Unrealized —

PSEC PROSPECT CAPITAL CORP 0.0%

Value $422K Shares 162,953 Est. Cost $2.93 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SEE	SEALED AIR CORPORATION	509,581	$18.01M	1.4%	$38.08	—	—	81211K100
—	DIAGEO P L C - ADR	126,211	$9.396M	0.7%	$107.32	—	—	25243q205
SNEX	STONEX GROUP, INC.	54,035	$4.358M	0.3%	$106.32	—	—	861896108
—	CISCO SYSTEMS INC	55,199	$4.283M	0.3%	$55.76	—	—	17275r102
NE	NOBLE CORP PLC	54,434	$2.671M	0.2%	$29.98	—	—	G65431127
TRMD	TORM PLC-A	92,911	$2.592M	0.2%	$21.05	—	—	G89479102
BFH	BREAD FINANCIAL HOLDINGS, INC.	31,262	$2.341M	0.2%	$63.39	—	—	018581108
ZION	ZIONS BANCORPORATION N.A.	37,877	$2.182M	0.2%	$55.94	—	—	989701107
HCI	HCI GROUP INC	10,906	$2.091M	0.2%	$155.56	—	—	40416E103
EPD	ENTERPRISE PRODUCTS PARTNERS	51,549	$1.951M	0.1%	$19.59	—	—	293792107
AGCO	AGCO CORP.	16,647	$1.929M	0.1%	$108.97	—	—	001084102
TSN	TYSON FOODS	26,123	$1.674M	0.1%	$57.76	—	—	902494103
FIBK	FIRST INTERSTATE BANCSYSTEM INC	49,370	$1.649M	0.1%	$31.44	—	—	32055Y201
SFNC	SIMMONS FIRS NATIONAL CORP-A	77,193	$1.501M	0.1%	$19.69	—	—	828730200
CVS	CVS CORP.	19,132	$1.374M	0.1%	$71.58	—	—	126650100
EMBC	EMBECTA CORP	75,356	$666K	0.1%	$11.63	—	—	29082K105
PSEC	PROSPECT CAPITAL CORP	162,953	$422K	0.0%	$2.93	—	—	74348T102

Decreased Positions (14)

FDX FEDEX CORP. 0.3%

Value $3.374M (-87.2%) Shares 10,774 (-85.4%) Est. Cost $196.70 Unrealized —

GOOGL ALPHABET INC-CL A 3.8%

Value $50.49M (-11.5%) Shares 141,282 (-28.8%) Est. Cost $106.44 Unrealized —

JNJ JOHNSON & JOHNSON 3.9%

Value $51.21M (-4.5%) Shares 201,644 (-8.1%) Est. Cost $59.66 Unrealized —

BK BANK OF NEW YORK MELLON CORP 1.1%

Value $14.79M (+14.4%) Shares 102,246 (-6.2%) Est. Cost $23.71 Unrealized —

TFC TRUIST FINANCIAL CORP 2.1%

Value $27.21M (+6.2%) Shares 546,256 (-2.0%) Est. Cost $35.40 Unrealized —

USB US BANCORP 0.8%

Value $10.99M (+14.6%) Shares 181,896 (-1.3%) Est. Cost $28.72 Unrealized —

BABA ALIBABA GROUP HOLDING SP-ADR 0.0%

Value $380K (-25.4%) Shares 3,960 (-2.5%) Est. Cost $229.31 Unrealized —

GL GLOBE LIFE INC. 0.3%

Value $3.996M (+2.7%) Shares 22,364 (-19.6%) Est. Cost $94.86 Unrealized —

EMR EMERSON ELECTRIC CO 0.1%

Value $1.252M (+6.8%) Shares 8,743 (-2.2%) Est. Cost $39.80 Unrealized —

CNXC CONCENTRIX CORP 0.0%

Value $301K (-19.3%) Shares 13,431 (-1.4%) Est. Cost $108.34 Unrealized —

MICC MAGNUM ICE CREAM CO NV ADR 0.0%

Value $203K (+12.7%) Shares 11,654 (-3.3%) Est. Cost $15.68 Unrealized —

BAX BAXTER INTERNATIONAL INC 0.0%

Value $202K (-8.9%) Shares 9,479 (-2.7%) Est. Cost $30.42 Unrealized —

UL UNILEVER PLC SPONSORED ADR 0.2%

Value $2.951M (+0.2%) Shares 49,084 (-5.0%) Est. Cost $65.40 Unrealized —

WFC WELLS FARGO & CO 3.1%

Value $41.07M (+0.0%) Shares 497,011 (-3.7%) Est. Cost $28.10 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FDX	FEDEX CORP.	10,774 (-85.4%)	$3.374M (-87.2%)	0.3%	$196.70	—	COM	31428X106
GOOGL	ALPHABET INC-CL A	141,282 (-28.8%)	$50.49M (-11.5%)	3.8%	$106.44	—	COM	02079K305
JNJ	JOHNSON & JOHNSON	201,644 (-8.1%)	$51.21M (-4.5%)	3.9%	$59.66	—	COM	478160104
BK	BANK OF NEW YORK MELLON CORP	102,246 (-6.2%)	$14.79M (+14.4%)	1.1%	$23.71	—	COM	064058100
TFC	TRUIST FINANCIAL CORP	546,256 (-2.0%)	$27.21M (+6.2%)	2.1%	$35.40	—	COM	89832Q109
USB	US BANCORP	181,896 (-1.3%)	$10.99M (+14.6%)	0.8%	$28.72	—	COM	902973304
BABA	ALIBABA GROUP HOLDING SP-ADR	3,960 (-2.5%)	$380K (-25.4%)	0.0%	$229.31	—	ADR	01609W102
GL	GLOBE LIFE INC.	22,364 (-19.6%)	$3.996M (+2.7%)	0.3%	$94.86	—	COM	37959E102
EMR	EMERSON ELECTRIC CO	8,743 (-2.2%)	$1.252M (+6.8%)	0.1%	$39.80	—	COM	291011104
CNXC	CONCENTRIX CORP	13,431 (-1.4%)	$301K (-19.3%)	0.0%	$108.34	—	COM	20602D101
MICC	MAGNUM ICE CREAM CO NV ADR	11,654 (-3.3%)	$203K (+12.7%)	0.0%	$15.68	—	ADR	N5505D105
BAX	BAXTER INTERNATIONAL INC	9,479 (-2.7%)	$202K (-8.9%)	0.0%	$30.42	—	COM	071813109
UL	UNILEVER PLC SPONSORED ADR	49,084 (-5.0%)	$2.951M (+0.2%)	0.2%	$65.40	—	ADR	904767803
WFC	WELLS FARGO & CO	497,011 (-3.7%)	$41.07M (+0.0%)	3.1%	$28.10	—	COM	949746101

Unchanged Positions (23)

IONS IONIS PHARMACEUTICALS INC. 13.7%

Value $181M Shares 2,280,311 Est. Cost $34.89 Unrealized —

KOF COCA COLA FEMSA 9.3%

Value $123M Shares 1,160,570 Est. Cost $62.21 Unrealized —

UHAL/B U-HAUL HOLDING CO - NON VOTING 2.0%

Value $26.71M Shares 462,827 Est. Cost $52.99 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC 8.2%

Value $108M Shares 144 Est. Cost $168771.17 Unrealized —

CNH CNH INDUSTRIAL NV 17.1%

Value $226M Shares 20,115,883 Est. Cost $10.49 Unrealized —

ALV AUTOLIV INC. 3.4%

Value $44.53M Shares 383,314 Est. Cost $61.84 Unrealized —

JAZZ JAZZ PHARMACEUTICALS PLC 1.1%

Value $14.49M Shares 60,149 Est. Cost $169.07 Unrealized —

BAC BANK OF AMERICA CORP COM 1.6%

Value $20.78M Shares 364,776 Est. Cost $23.50 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL CL B 3.7%

Value $48.85M Shares 97,625 Est. Cost $192.04 Unrealized —

AXP AMERICAN EXPRESS CO 1.6%

Value $21.21M Shares 62,719 Est. Cost $157.56 Unrealized —

VRTX VERTEX PHARMACEUTICALS 1.5%

Value $19.93M Shares 40,121 Est. Cost $356.41 Unrealized —

TTE TOTALENERGIES SE ADR 0.7%

Value $9.106M Shares 117,108 Est. Cost $63.23 Unrealized —

NVST ENVISTA HOLDINGS CORP 2.9%

Value $37.82M Shares 1,435,248 Est. Cost $20.85 Unrealized —

UNF UNIFIRST CORP 2.0%

Value $26.86M Shares 101,553 Est. Cost $168.52 Unrealized —

AZO AUTOZONE, INC. 1.3%

Value $17.67M Shares 5,530 Est. Cost $584.03 Unrealized —

UNP UNION PACIFIC CORP 0.4%

Value $5.218M Shares 19,185 Est. Cost $65.79 Unrealized —

PGR PROGRESSIVE CORP 0.2%

Value $2.995M Shares 13,711 Est. Cost $81.77 Unrealized —

— NOVARTIS AG AMERICAN DEPOSITORY SHARES 0.8%

Value $11.15M Shares 71,125 Est. Cost $91.56 Unrealized —

GSK GSK PLC ADR 0.3%

Value $4.274M Shares 81,527 Est. Cost $35.14 Unrealized —

VZ VERIZON COMMUNICATIONS 0.1%

Value $1.011M Shares 23,878 Est. Cost $28.27 Unrealized —

PSX PHILLIPS 66 0.2%

Value $2.076M Shares 12,282 Est. Cost $40.44 Unrealized —

CMCSA COMCAST CORPORATION - CLASS A 0.1%

Value $769K Shares 31,330 Est. Cost $30.66 Unrealized —

HLN HALEON PLC ADR 0.1%

Value $672K Shares 72,035 Est. Cost $6.09 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IONS	IONIS PHARMACEUTICALS INC.	2,280,311	$181M	13.7%	$34.89	—	COM	462222100
KOF	COCA COLA FEMSA	1,160,570	$123M	9.3%	$62.21	—	ADR	191241108
UHAL/B	U-HAUL HOLDING CO - NON VOTING	462,827	$26.71M	2.0%	$52.99	—	COM	023586506
BRK/A	BERKSHIRE HATHAWAY INC	144	$108M	8.2%	$168771.17	—	COM	084670108
CNH	CNH INDUSTRIAL NV	20,115,883	$226M	17.1%	$10.49	—	COM	N20944109
ALV	AUTOLIV INC.	383,314	$44.53M	3.4%	$61.84	—	COM	052800109
JAZZ	JAZZ PHARMACEUTICALS PLC	60,149	$14.49M	1.1%	$169.07	—	COM	G50871105
BAC	BANK OF AMERICA CORP COM	364,776	$20.78M	1.6%	$23.50	—	COM	060505104
BRK/B	BERKSHIRE HATHAWAY INC DEL CL B	97,625	$48.85M	3.7%	$192.04	—	COM	084670702
AXP	AMERICAN EXPRESS CO	62,719	$21.21M	1.6%	$157.56	—	COM	025816109
VRTX	VERTEX PHARMACEUTICALS	40,121	$19.93M	1.5%	$356.41	—	COM	92532F100
TTE	TOTALENERGIES SE ADR	117,108	$9.106M	0.7%	$63.23	—	ADR	F92124100
NVST	ENVISTA HOLDINGS CORP	1,435,248	$37.82M	2.9%	$20.85	—	COM	29415F104
UNF	UNIFIRST CORP	101,553	$26.86M	2.0%	$168.52	—	COM	904708104
AZO	AUTOZONE, INC.	5,530	$17.67M	1.3%	$584.03	—	COM	053332102
UNP	UNION PACIFIC CORP	19,185	$5.218M	0.4%	$65.79	—	COM	907818108
PGR	PROGRESSIVE CORP	13,711	$2.995M	0.2%	$81.77	—	COM	743315103
—	NOVARTIS AG AMERICAN DEPOSITORY SHARES	71,125	$11.15M	0.8%	$91.56	—	ADR	66987v109
GSK	GSK PLC ADR	81,527	$4.274M	0.3%	$35.14	—	ADR	37733W204
VZ	VERIZON COMMUNICATIONS	23,878	$1.011M	0.1%	$28.27	—	COM	92343V104
PSX	PHILLIPS 66	12,282	$2.076M	0.2%	$40.44	—	COM	718546104
CMCSA	COMCAST CORPORATION - CLASS A	31,330	$769K	0.1%	$30.66	—	COM	20030N101
HLN	HALEON PLC ADR	72,035	$672K	0.1%	$6.09	—	ADR	405552100