Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HON	HONEYWELL INTL INC	31,711	$7.228M	1.3%	$225.93	0.0%	COM	438516106
ADI	ANALOG DEVICES INC	19,135	$6.264M	1.1%	$316.17	0.0%	COM	032654105
UPS	UNITED PARCEL SVCS INC	63,491	$6.176M	1.1%	$109.86	0.0%	CL B	911312106
RPRX	ROYALTY PHARMA PLC	121,499	$5.749M	1.1%	$42.28	0.0%	SHS CLASS A	G7709Q104
BKR	BAKER HUGHES COMPANY	84,040	$5.105M	0.9%	$56.08	0.0%	CL A	05722G100
MUFG	MITSUBISHI UFJ FINANCIAL GRO	282,488	$4.966M	0.9%	$17.58	—	SPONSORED ADS	606822104
RIO	RIO TINTO PLC	50,150	$4.715M	0.9%	$94.01	—	SPONSORED ADR	767204100
CVCO	CAVCO INDS INC DEL	9,775	$4.704M	0.9%	$603.85	0.0%	COM	149568107
SOLS	SOLSTICE ADVANCED MATLS INC	55,012	$4.275M	0.8%	$65.21	0.0%	COM SHS	83443Q103
NEOG	NEOGEN CORP	373,486	$3.571M	0.7%	$10.02	0.0%	COM	640491106
BELFA	BEL FUSE INC	17,723	$3.477M	0.6%	$191.68	0.0%	CL A	077347201
APH	AMPHENOL CORP	25,058	$3.17M	0.6%	$146.40	0.0%	CL A	032095101
BKTI	BK TECHNOLOGIES CORPORATION	33,935	$2.655M	0.5%	$81.14	0.0%	COM NEW	05587G203
AMAT	APPLIED MATLS INC	2,500	$854K	0.2%	$326.57	0.0%	COM	038222105
PSTL	POSTAL REALTY TRUST INC	43,608	$829K	0.2%	$19.02	—	CL A	73757R102
WM	WASTE MGMT INC DEL	3,186	$745K	0.1%	$226.07	0.0%	COM	94106L109
CSX	CSX CORP	18,000	$739K	0.1%	$38.52	0.0%	COM	126408103
—	BOEING CO	11,100	$720K	0.1%	$64.88	—	DEP CONV PFD A	097023204
ITRN	ITURAN LOCATION AND CONTROL	12,117	$621K	0.1%	$45.58	0.0%	SHS	M6158M104
—	ISHARES TR	6,000	$543K	0.1%	—	—	CALL	464288902
SARK	INVESTMENT MANAGERS SER TR I	15,000	$497K	0.1%	$33.14	—	TRADR 1X SHORT	46144X131
EQT	EQT CORP	8,000	$483K	0.1%	$55.27	0.0%	COM	26884L109
ON	ON SEMICONDUCTOR CORP	7,500	$464K	0.1%	$64.12	0.0%	COM	682189105
ES	EVERSOURCE ENERGY	6,515	$452K	0.1%	$70.10	0.0%	COM	30040W108
HOOD	ROBINHOOD MKTS INC	6,500	$450K	0.1%	$95.75	0.0%	COM CL A	770700102
ST	SENSATA TECHNOLOGIES HLDG PL	12,500	$440K	0.1%	$35.80	0.0%	SHS	G8060N102
MLPI	NEOS ETF TRUST	7,500	$425K	0.1%	$56.63	—	MLP & ENERGY INF	78433H485
MRP	MILLROSE PPTYS INC	15,138	$422K	0.1%	$27.90	—	COM CL A	601137102
CC	CHEMOURS CO	19,000	$419K	0.1%	$16.62	0.0%	COM	163851108
OMAB	GRUPO AEROPORTUARIO DEL CENT	3,370	$387K	0.1%	$114.76	—	SPON ADR	400501102
—	AMERICAN AIRLINES GROUP INC	30,000	$322K	0.1%	—	—	CALL	02376R902
—	MICROCHIP TECHNOLOGY INC.	3,512	$209K	0.0%	$59.54	—	DEP SHS REPSTG	595017302

Increased Positions (27)

BIL SPDR SERIES TRUST 9.0%

Value $48.95M (+69.0%) Shares 535,375 (+69.0%) Est. Cost $91.49 Unrealized —

AVGO BROADCOM INC 2.0%

Value $10.88M (+138.3%) Shares 34,590 (+163.4%) Est. Cost $328.27 Unrealized +1.8%

IXUS ISHARES TR 1.2%

Value $6.465M (+1146.6%) Shares 73,821 (+1122.0%) Est. Cost $87.44 Unrealized —

TRGP TARGA RES CORP 1.1%

Value $6.092M (+417.7%) Shares 24,798 (+293.6%) Est. Cost $165.46 Unrealized +21.9%

XOM EXXON MOBIL CORP 0.9%

Value $4.706M (+2165.1%) Shares 28,730 (+1596.0%) Est. Cost $137.37 Unrealized +1.0%

TBLL INVESCO EXCH TRADED FD TR II 1.7%

Value $9.101M (+71.8%) Shares 86,172 (+71.9%) Est. Cost $105.65 Unrealized —

MDT MEDTRONIC PLC 1.2%

Value $6.397M (+31.8%) Shares 74,096 (+46.7%) Est. Cost $97.42 Unrealized +2.1%

MSI MOTOROLA SOLUTIONS INC 0.9%

Value $4.903M (+41.7%) Shares 11,109 (+22.5%) Est. Cost $457.75 Unrealized -9.1%

V VISA INC 1.5%

Value $8.001M (-11.4%) Shares 26,377 (+1.2%) Est. Cost $282.29 Unrealized +16.6%

ETN EATON CORP PLC 1.2%

Value $6.637M (+18.1%) Shares 18,289 (+6.0%) Est. Cost $207.11 Unrealized +70.7%

ECL ECOLAB INC 1.7%

Value $9.021M (+12.2%) Shares 33,783 (+10.3%) Est. Cost $254.20 Unrealized +12.6%

LYV LIVE NATION ENTERTAINMENT IN 1.1%

Value $5.843M (+18.2%) Shares 36,494 (+7.3%) Est. Cost $84.66 Unrealized +75.2%

CCJ CAMECO CORP 0.9%

Value $4.712M (+23.1%) Shares 42,747 (+8.9%) Est. Cost $60.66 Unrealized +91.7%

LNT ALLIANT ENERGY CORP 1.1%

Value $6.062M (+16.7%) Shares 83,673 (+5.6%) Est. Cost $66.87 Unrealized +1.1%

FAST FASTENAL CO 1.0%

Value $5.47M (+18.6%) Shares 119,260 (+4.6%) Est. Cost $42.13 Unrealized +5.1%

LAMR LAMAR ADVERTISING CO 0.2%

Value $938K (+194.1%) Shares 7,318 (+184.7%) Est. Cost $108.28 Unrealized —

HLT HILTON WORLDWIDE HLDGS INC 1.1%

Value $5.771M (+11.5%) Shares 18,805 (+6.4%) Est. Cost $147.86 Unrealized +106.3%

UBER UBER TECHNOLOGIES INC 1.1%

Value $6.031M (-7.9%) Shares 83,560 (+5.7%) Est. Cost $72.25 Unrealized +9.0%

JPM JPMORGAN CHASE & CO 0.9%

Value $4.865M (-6.5%) Shares 16,468 (+3.0%) Est. Cost $222.64 Unrealized +39.9%

MCHP MICROCHIP TECHNOLOGY INC. 1.0%

Value $5.287M (+6.8%) Shares 79,231 (+3.6%) Est. Cost $66.93 Unrealized +13.2%

BKNG BOOKING HOLDINGS INC 0.2%

Value $1.308M (-18.6%) Shares 7,425 (+2358.6%) Est. Cost $4717.01 Unrealized +1.4%

RMD RESMED INC 0.8%

Value $4.147M (-3.2%) Shares 18,437 (+5.3%) Est. Cost $235.34 Unrealized +8.7%

PAGP PLAINS GP HLDGS L P 0.1%

Value $522K (+34.4%) Shares 21,905 (+9.5%) Est. Cost $17.82 Unrealized —

— CENTRAL SECS CORP 1.2%

Value $6.316M (+1.2%) Shares 126,070 (+2.5%) Est. Cost $49.56 Unrealized —

BAC BANK AMERICA CORP 0.2%

Value $975K (+7.4%) Shares 20,000 (+21.2%) Est. Cost $39.33 Unrealized +36.5%

AAPL APPLE INC 0.4%

Value $2.146M (-3.0%) Shares 8,289 (+1.5%) Est. Cost $109.16 Unrealized +140.8%

TOST TOAST INC 0.1%

Value $811K (+5.2%) Shares 30,000 (+32.5%) Est. Cost $34.92 Unrealized -11.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BIL	SPDR SERIES TRUST	535,375 (+69.0%)	$48.95M (+69.0%)	9.0%	$91.49	—	STATE STREET SPD	78468R663
AVGO	BROADCOM INC	34,590 (+163.4%)	$10.88M (+138.3%)	2.0%	$328.27	+1.8%	COM	11135F101
IXUS	ISHARES TR	73,821 (+1122.0%)	$6.465M (+1146.6%)	1.2%	$87.44	—	CORE MSCI TOTAL	46432F834
TRGP	TARGA RES CORP	24,798 (+293.6%)	$6.092M (+417.7%)	1.1%	$165.46	+21.9%	COM	87612G101
XOM	EXXON MOBIL CORP	28,730 (+1596.0%)	$4.706M (+2165.1%)	0.9%	$137.37	+1.0%	COM	30231G102
TBLL	INVESCO EXCH TRADED FD TR II	86,172 (+71.9%)	$9.101M (+71.8%)	1.7%	$105.65	—	SHORT TERM TREAS	46138G888
MDT	MEDTRONIC PLC	74,096 (+46.7%)	$6.397M (+31.8%)	1.2%	$97.42	+2.1%	SHS	G5960L103
MSI	MOTOROLA SOLUTIONS INC	11,109 (+22.5%)	$4.903M (+41.7%)	0.9%	$457.75	-9.1%	COM NEW	620076307
V	VISA INC	26,377 (+1.2%)	$8.001M (-11.4%)	1.5%	$282.29	+16.6%	COM CL A	92826C839
ETN	EATON CORP PLC	18,289 (+6.0%)	$6.637M (+18.1%)	1.2%	$207.11	+70.7%	SHS	G29183103
ECL	ECOLAB INC	33,783 (+10.3%)	$9.021M (+12.2%)	1.7%	$254.20	+12.6%	COM	278865100
LYV	LIVE NATION ENTERTAINMENT IN	36,494 (+7.3%)	$5.843M (+18.2%)	1.1%	$84.66	+75.2%	COM	538034109
CCJ	CAMECO CORP	42,747 (+8.9%)	$4.712M (+23.1%)	0.9%	$60.66	+91.7%	COM	13321L108
LNT	ALLIANT ENERGY CORP	83,673 (+5.6%)	$6.062M (+16.7%)	1.1%	$66.87	+1.1%	COM	018802108
FAST	FASTENAL CO	119,260 (+4.6%)	$5.47M (+18.6%)	1.0%	$42.13	+5.1%	COM	311900104
LAMR	LAMAR ADVERTISING CO	7,318 (+184.7%)	$938K (+194.1%)	0.2%	$108.28	—	CL A	512816109
HLT	HILTON WORLDWIDE HLDGS INC	18,805 (+6.4%)	$5.771M (+11.5%)	1.1%	$147.86	+106.3%	COM	43300A203
UBER	UBER TECHNOLOGIES INC	83,560 (+5.7%)	$6.031M (-7.9%)	1.1%	$72.25	+9.0%	COM	90353T100
JPM	JPMORGAN CHASE & CO	16,468 (+3.0%)	$4.865M (-6.5%)	0.9%	$222.64	+39.9%	COM	46625H100
MCHP	MICROCHIP TECHNOLOGY INC.	79,231 (+3.6%)	$5.287M (+6.8%)	1.0%	$66.93	+13.2%	COM	595017104
BKNG	BOOKING HOLDINGS INC	7,425 (+2358.6%)	$1.308M (-18.6%)	0.2%	$4717.01	+1.4%	COM	09857L108
RMD	RESMED INC	18,437 (+5.3%)	$4.147M (-3.2%)	0.8%	$235.34	+8.7%	COM	761152107
PAGP	PLAINS GP HLDGS L P	21,905 (+9.5%)	$522K (+34.4%)	0.1%	$17.82	—	LTD PARTNR INT A	72651A207
—	CENTRAL SECS CORP	126,070 (+2.5%)	$6.316M (+1.2%)	1.2%	$49.56	—	COM	155123102
BAC	BANK AMERICA CORP	20,000 (+21.2%)	$975K (+7.4%)	0.2%	$39.33	+36.5%	COM	060505104
AAPL	APPLE INC	8,289 (+1.5%)	$2.146M (-3.0%)	0.4%	$109.16	+140.8%	COM	037833100
TOST	TOAST INC	30,000 (+32.5%)	$811K (+5.2%)	0.1%	$34.92	-11.2%	CL A	888787108

Exited Positions (27)

MCO MOODYS CORP 2.1%

Value $11.27M Shares 22,544 Est. Cost $269.57 Unrealized +81.6%

WST WEST PHARMACEUTICAL SVSC INC 1.4%

Value $7.462M Shares 26,997 Est. Cost $214.18 Unrealized +17.6%

CP CANADIAN PACIFIC KANSAS CITY 1.3%

Value $6.915M Shares 92,886 Est. Cost $77.55 Unrealized -0.4%

— SPDR S&P 500 ETF TR 1.3%

Value $6.819M Shares 10,000 Est. Cost — Unrealized —

CPRT COPART INC 1.2%

Value $6.641M Shares 175,828 Est. Cost $36.12 Unrealized +8.4%

CLBT CELLEBRITE DI LTD 0.9%

Value $4.912M Shares 275,315 Est. Cost $20.03 Unrealized -22.3%

RKT ROCKET COS INC 0.8%

Value $4.206M Shares 212,302 Est. Cost $17.88 Unrealized +12.7%

UNH UNITEDHEALTH GROUP INC 0.8%

Value $4.192M Shares 12,462 Est. Cost $298.94 Unrealized +3.3%

EXR EXTRA SPACE STORAGE INC 0.7%

Value $4.059M Shares 30,991 Est. Cost $140.62 Unrealized -6.9%

INTU INTUIT 0.7%

Value $3.969M Shares 6,306 Est. Cost $405.57 Unrealized +22.7%

LNG CHENIERE ENERGY INC 0.7%

Value $3.959M Shares 20,015 Est. Cost $204.75 Unrealized +2.5%

AJG GALLAGHER ARTHUR J & CO 0.7%

Value $3.589M Shares 14,020 Est. Cost $234.39 Unrealized +2.6%

NOW SERVICENOW INC 0.7%

Value $3.552M Shares 24,091 Est. Cost $164.37 Unrealized -26.3%

— ISHARES TR 0.3%

Value $1.846M Shares 7,500 Est. Cost — Unrealized —

XLF SELECT SECTOR SPDR TR 0.3%

Value $1.643M Shares 30,000 Est. Cost — Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 0.3%

Value $1.484M Shares 9,229 Est. Cost $156.20 Unrealized +5.6%

MAIN MAIN STR CAP CORP 0.2%

Value $1.05M Shares 17,000 Est. Cost $43.97 Unrealized +39.9%

REXR REXFORD INDL RLTY INC 0.2%

Value $1.016M Shares 26,040 Est. Cost $37.27 Unrealized —

COF CAPITAL ONE FINL CORP 0.2%

Value $969K Shares 4,000 Est. Cost $185.05 Unrealized +20.6%

ZTS ZOETIS INC 0.1%

Value $730K Shares 5,800 Est. Cost $87.19 Unrealized +44.5%

SKY CHAMPION HOMES INC 0.1%

Value $584K Shares 6,915 Est. Cost $70.62 Unrealized +27.8%

FCX FREEPORT-MCMORAN INC 0.1%

Value $508K Shares 10,000 Est. Cost $43.20 Unrealized +41.5%

CPK CHESAPEAKE UTILS CORP 0.1%

Value $460K Shares 3,700 Est. Cost $103.18 Unrealized +24.3%

ORCL ORACLE CORP 0.1%

Value $412K Shares 2,104 Est. Cost $160.80 Unrealized +5.5%

PFF ISHARES TR 0.0%

Value $252K Shares 8,069 Est. Cost $31.27 Unrealized —

BR BROADRIDGE FINL SOLUTIONS IN 0.0%

Value $220K Shares 1,000 Est. Cost $146.13 Unrealized +35.3%

CPT CAMDEN PPTY TR 0.0%

Value $209K Shares 1,900 Est. Cost $89.95 Unrealized +22.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MCO	MOODYS CORP	22,544	$11.27M	2.1%	$269.57	+81.6%	—	615369105
WST	WEST PHARMACEUTICAL SVSC INC	26,997	$7.462M	1.4%	$214.18	+17.6%	—	955306105
CP	CANADIAN PACIFIC KANSAS CITY	92,886	$6.915M	1.3%	$77.55	-0.4%	—	13646K108
—	SPDR S&P 500 ETF TR	10,000	$6.819M	1.3%	—	—	PUT	78462F953
CPRT	COPART INC	175,828	$6.641M	1.2%	$36.12	+8.4%	—	217204106
CLBT	CELLEBRITE DI LTD	275,315	$4.912M	0.9%	$20.03	-22.3%	—	M2197Q107
RKT	ROCKET COS INC	212,302	$4.206M	0.8%	$17.88	+12.7%	—	77311W101
UNH	UNITEDHEALTH GROUP INC	12,462	$4.192M	0.8%	$298.94	+3.3%	—	91324P102
EXR	EXTRA SPACE STORAGE INC	30,991	$4.059M	0.7%	$140.62	-6.9%	—	30225T102
INTU	INTUIT	6,306	$3.969M	0.7%	$405.57	+22.7%	—	461202103
LNG	CHENIERE ENERGY INC	20,015	$3.959M	0.7%	$204.75	+2.5%	—	16411R208
AJG	GALLAGHER ARTHUR J & CO	14,020	$3.589M	0.7%	$234.39	+2.6%	—	363576109
NOW	SERVICENOW INC	24,091	$3.552M	0.7%	$164.37	-26.3%	—	81762P102
—	ISHARES TR	7,500	$1.846M	0.3%	—	—	PUT	464287955
XLF	SELECT SECTOR SPDR TR	30,000	$1.643M	0.3%	—	—	PUT	81369Y605
ICE	INTERCONTINENTAL EXCHANGE IN	9,229	$1.484M	0.3%	$156.20	+5.6%	—	45866F104
MAIN	MAIN STR CAP CORP	17,000	$1.05M	0.2%	$43.97	+39.9%	—	56035L104
REXR	REXFORD INDL RLTY INC	26,040	$1.016M	0.2%	$37.27	—	—	76169C100
COF	CAPITAL ONE FINL CORP	4,000	$969K	0.2%	$185.05	+20.6%	—	14040H105
ZTS	ZOETIS INC	5,800	$730K	0.1%	$87.19	+44.5%	—	98978V103
SKY	CHAMPION HOMES INC	6,915	$584K	0.1%	$70.62	+27.8%	—	830830105
FCX	FREEPORT-MCMORAN INC	10,000	$508K	0.1%	$43.20	+41.5%	—	35671D857
CPK	CHESAPEAKE UTILS CORP	3,700	$460K	0.1%	$103.18	+24.3%	—	165303108
ORCL	ORACLE CORP	2,104	$412K	0.1%	$160.80	+5.5%	—	68389X105
PFF	ISHARES TR	8,069	$252K	0.0%	$31.27	—	—	464288687
BR	BROADRIDGE FINL SOLUTIONS IN	1,000	$220K	0.0%	$146.13	+35.3%	—	11133T103
CPT	CAMDEN PPTY TR	1,900	$209K	0.0%	$89.95	+22.5%	—	133131102

Decreased Positions (58)

MSFT MICROSOFT CORP 2.0%

Value $10.81M (-63.2%) Shares 28,988 (-53.3%) Est. Cost $142.25 Unrealized +205.5%

TDG TRANSDIGM GROUP INC 0.2%

Value $1.106M (-85.9%) Shares 930 (-83.9%) Est. Cost $773.97 Unrealized +75.9%

DHR DANAHER CORP DEL 0.3%

Value $1.723M (-79.3%) Shares 8,966 (-75.1%) Est. Cost $191.74 Unrealized +17.2%

AMZN AMAZON COM INC 2.1%

Value $11.55M (-36.1%) Shares 54,309 (-31.8%) Est. Cost $152.10 Unrealized +49.1%

SPGI S&P GLOBAL INC 0.3%

Value $1.492M (-79.5%) Shares 3,438 (-75.8%) Est. Cost $454.53 Unrealized +6.8%

CRH CRH PLC 3.0%

Value $16.4M (-21.0%) Shares 154,264 (-6.0%) Est. Cost $61.05 Unrealized +103.6%

GOOGL ALPHABET INC 4.9%

Value $26.5M (-14.0%) Shares 88,415 (-9.6%) Est. Cost $135.41 Unrealized +138.8%

IDXX IDEXX LABS INC 2.9%

Value $15.6M (-19.3%) Shares 27,021 (-6.4%) Est. Cost $318.15 Unrealized +110.7%

WCN WASTE CONNECTIONS INC 2.9%

Value $15.79M (-17.8%) Shares 95,438 (-13.5%) Est. Cost $73.23 Unrealized +128.6%

HEI/A HEICO CORP NEW 1.9%

Value $10.18M (-24.5%) Shares 47,670 (-9.0%) Est. Cost $110.57 Unrealized +134.7%

BSX BOSTON SCIENTIFIC CORP 0.9%

Value $4.776M (-40.2%) Shares 76,308 (-9.4%) Est. Cost $51.36 Unrealized +67.1%

TWFG TWFG INC 0.2%

Value $1.342M (-70.2%) Shares 72,099 (-55.2%) Est. Cost $28.90 Unrealized -17.5%

AMT AMERICAN TOWER CORP 0.1%

Value $558K (-79.4%) Shares 3,169 (-79.6%) Est. Cost $136.48 Unrealized +28.1%

MA MASTERCARD INCORPORATED 1.7%

Value $9.146M (-19.0%) Shares 18,238 (-9.0%) Est. Cost $268.59 Unrealized +100.7%

COST COSTCO WHOLESALE CORPORATION 2.5%

Value $13.48M (-13.5%) Shares 13,234 (-27.4%) Est. Cost $264.81 Unrealized +263.9%

WMB WILLIAMS COS INC 2.5%

Value $13.46M (+13.4%) Shares 185,343 (-5.0%) Est. Cost $31.56 Unrealized +110.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.1%

Value $5.874M (-20.5%) Shares 12,330 (-17.1%) Est. Cost $306.24 Unrealized +61.1%

SOLV SOLVENTUM CORP 0.9%

Value $5.068M (-22.1%) Shares 80,133 (-2.7%) Est. Cost $70.66 Unrealized +10.9%

SYK STRYKER CORPORATION 0.2%

Value $848K (-61.1%) Shares 2,553 (-59.2%) Est. Cost $362.69 Unrealized +0.5%

META META PLATFORMS INC 0.6%

Value $3.185M (-27.9%) Shares 5,558 (-17.9%) Est. Cost $616.61 Unrealized +6.3%

TYL TYLER TECHNOLOGIES INC 0.3%

Value $1.702M (-42.0%) Shares 5,046 (-25.0%) Est. Cost $332.33 Unrealized +15.9%

TMO THERMO FISHER SCIENTIFIC INC 0.8%

Value $4.386M (-21.5%) Shares 8,984 (-5.0%) Est. Cost $501.96 Unrealized +14.5%

PPL PPL CORP 0.1%

Value $712K (-62.0%) Shares 18,396 (-65.6%) Est. Cost $26.92 Unrealized +34.6%

GTLS CHART INDS INC 0.1%

Value $623K (-62.3%) Shares 3,000 (-62.5%) Est. Cost $112.90 Unrealized +83.4%

BLK BLACKROCK INC 0.0%

Value $212K (-82.8%) Shares 221 (-80.5%) Est. Cost $991.42 Unrealized +10.7%

CBRE CBRE GROUP INC 0.9%

Value $4.954M (-16.9%) Shares 36,379 (-2.3%) Est. Cost $157.23 Unrealized +2.7%

FERG FERGUSON ENTERPRISES INC 0.1%

Value $815K (-51.6%) Shares 3,408 (-54.6%) Est. Cost $195.88 Unrealized +28.2%

SH PROSHARES TR 0.2%

Value $998K (-45.3%) Shares 26,653 (-47.5%) Est. Cost $49.94 Unrealized —

NVDA NVIDIA CORPORATION 1.2%

Value $6.618M (-9.5%) Shares 37,255 (-3.7%) Est. Cost $98.38 Unrealized +89.7%

CMS CMS ENERGY CORP 1.6%

Value $8.851M (+8.5%) Shares 112,992 (-2.5%) Est. Cost $54.23 Unrealized +33.1%

MPWR MONOLITHIC PWR SYS INC 0.8%

Value $4.371M (+18.5%) Shares 3,704 (-6.0%) Est. Cost $960.73 Unrealized +15.0%

ENFR ALPS ETF TR 0.8%

Value $4.371M (+16.4%) Shares 115,229 (-2.7%) Est. Cost $32.06 Unrealized —

MUB ISHARES TR 0.2%

Value $1.009M (-35.1%) Shares 9,478 (-34.6%) Est. Cost $106.25 Unrealized —

VMC VULCAN MATLS CO 1.0%

Value $5.336M (-7.6%) Shares 18,947 (-4.0%) Est. Cost $215.96 Unrealized +42.1%

GS GOLDMAN SACHS GROUP INC 0.2%

Value $846K (-26.0%) Shares 1,000 (-23.1%) Est. Cost $571.74 Unrealized +63.1%

EPAM EPAM SYS INC 0.0%

Value $206K (-59.0%) Shares 1,500 (-40.0%) Est. Cost $137.75 Unrealized +38.4%

SSD SIMPSON MFG INC 0.9%

Value $5.028M (-4.0%) Shares 30,000 (-5.7%) Est. Cost $178.32 Unrealized +5.3%

SUI SUN CMNTYS INC 0.1%

Value $367K (-35.8%) Shares 2,870 (-38.7%) Est. Cost $114.91 Unrealized —

PH PARKER-HANNIFIN CORP 0.2%

Value $895K (-18.5%) Shares 1,000 (-20.0%) Est. Cost $436.53 Unrealized +119.4%

BOND PIMCO ETF TR 0.1%

Value $651K (-19.0%) Shares 7,063 (-18.3%) Est. Cost $92.32 Unrealized —

AGG ISHARES TR 0.1%

Value $611K (-18.4%) Shares 6,171 (-17.7%) Est. Cost $99.18 Unrealized —

GOVT ISHARES TR 0.1%

Value $589K (-18.5%) Shares 25,778 (-17.9%) Est. Cost $23.03 Unrealized —

DTM DT MIDSTREAM INC 0.2%

Value $1.359M (+9.1%) Shares 10,190 (-1.0%) Est. Cost $50.09 Unrealized +151.4%

TECB ISHARES TR 0.1%

Value $540K (-17.0%) Shares 9,555 (-11.2%) Est. Cost $40.30 Unrealized —

DE DEERE & CO 0.2%

Value $845K (-11.5%) Shares 1,500 (-26.8%) Est. Cost $471.36 Unrealized +17.0%

WELL WELLTOWER INC 1.3%

Value $7.129M (+1.5%) Shares 35,484 (-5.5%) Est. Cost $130.29 Unrealized +43.5%

IVW ISHARES TR 0.2%

Value $1.13M (-8.2%) Shares 9,813 (-1.7%) Est. Cost $87.16 Unrealized —

CMF ISHARES TR 0.1%

Value $686K (-11.7%) Shares 12,050 (-10.8%) Est. Cost $55.59 Unrealized —

ELAN ELANCO ANIMAL HEALTH INC 0.1%

Value $598K (-11.9%) Shares 25,000 (-16.7%) Est. Cost $21.76 Unrealized +12.9%

JEPI J P MORGAN EXCHANGE TRADED F 0.2%

Value $857K (-7.8%) Shares 15,112 (-6.8%) Est. Cost $58.08 Unrealized —

KMI KINDER MORGAN INC DEL 0.2%

Value $1.006M (-6.2%) Shares 30,000 (-23.1%) Est. Cost $21.94 Unrealized +35.6%

JPIB J P MORGAN EXCHANGE TRADED F 0.0%

Value $262K (-20.0%) Shares 5,499 (-18.1%) Est. Cost $47.76 Unrealized —

TSLA TESLA INC 0.0%

Value $218K (-22.0%) Shares 617 (-3.1%) Est. Cost $301.28 Unrealized +41.4%

VUSB VANGUARD BD INDEX FDS 0.0%

Value $261K (-18.0%) Shares 5,254 (-17.7%) Est. Cost $49.44 Unrealized —

HWM HOWMET AEROSPACE INC 1.4%

Value $7.625M (+0.6%) Shares 32,233 (-9.9%) Est. Cost $109.18 Unrealized +107.5%

GFL GFL ENVIRONMENTAL INC 0.5%

Value $2.911M (+1.7%) Shares 64,866 (-2.8%) Est. Cost $32.06 Unrealized +33.9%

RTX RTX CORPORATION 1.2%

Value $6.448M (+0.2%) Shares 32,498 (-5.4%) Est. Cost $94.72 Unrealized +107.6%

AROC ARCHROCK INC 0.1%

Value $592K (-1.1%) Shares 17,000 (-26.1%) Est. Cost $24.62 Unrealized +18.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	28,988 (-53.3%)	$10.81M (-63.2%)	2.0%	$142.25	+205.5%	COM	594918104
TDG	TRANSDIGM GROUP INC	930 (-83.9%)	$1.106M (-85.9%)	0.2%	$773.97	+75.9%	COM	893641100
DHR	DANAHER CORP DEL	8,966 (-75.1%)	$1.723M (-79.3%)	0.3%	$191.74	+17.2%	COM	235851102
AMZN	AMAZON COM INC	54,309 (-31.8%)	$11.55M (-36.1%)	2.1%	$152.10	+49.1%	COM	023135106
SPGI	S&P GLOBAL INC	3,438 (-75.8%)	$1.492M (-79.5%)	0.3%	$454.53	+6.8%	COM	78409V104
CRH	CRH PLC	154,264 (-6.0%)	$16.4M (-21.0%)	3.0%	$61.05	+103.6%	ORD	G25508105
GOOGL	ALPHABET INC	88,415 (-9.6%)	$26.5M (-14.0%)	4.9%	$135.41	+138.8%	CAP STK CL A	02079K305
IDXX	IDEXX LABS INC	27,021 (-6.4%)	$15.6M (-19.3%)	2.9%	$318.15	+110.7%	COM	45168D104
WCN	WASTE CONNECTIONS INC	95,438 (-13.5%)	$15.79M (-17.8%)	2.9%	$73.23	+128.6%	COM	94106B101
HEI/A	HEICO CORP NEW	47,670 (-9.0%)	$10.18M (-24.5%)	1.9%	$110.57	+134.7%	CL A	422806208
BSX	BOSTON SCIENTIFIC CORP	76,308 (-9.4%)	$4.776M (-40.2%)	0.9%	$51.36	+67.1%	COM	101137107
TWFG	TWFG INC	72,099 (-55.2%)	$1.342M (-70.2%)	0.2%	$28.90	-17.5%	COM CL A	87318A101
AMT	AMERICAN TOWER CORP	3,169 (-79.6%)	$558K (-79.4%)	0.1%	$136.48	+28.1%	COM	03027X100
MA	MASTERCARD INCORPORATED	18,238 (-9.0%)	$9.146M (-19.0%)	1.7%	$268.59	+100.7%	CL A	57636Q104
COST	COSTCO WHOLESALE CORPORATION	13,234 (-27.4%)	$13.48M (-13.5%)	2.5%	$264.81	+263.9%	COM	22160K105
WMB	WILLIAMS COS INC	185,343 (-5.0%)	$13.46M (+13.4%)	2.5%	$31.56	+110.3%	COM	969457100
BRK/B	BERKSHIRE HATHAWAY INC DEL	12,330 (-17.1%)	$5.874M (-20.5%)	1.1%	$306.24	+61.1%	CL B NEW	084670702
SOLV	SOLVENTUM CORP	80,133 (-2.7%)	$5.068M (-22.1%)	0.9%	$70.66	+10.9%	COM SHS	83444M101
SYK	STRYKER CORPORATION	2,553 (-59.2%)	$848K (-61.1%)	0.2%	$362.69	+0.5%	COM	863667101
META	META PLATFORMS INC	5,558 (-17.9%)	$3.185M (-27.9%)	0.6%	$616.61	+6.3%	CL A	30303M102
TYL	TYLER TECHNOLOGIES INC	5,046 (-25.0%)	$1.702M (-42.0%)	0.3%	$332.33	+15.9%	COM	902252105
TMO	THERMO FISHER SCIENTIFIC INC	8,984 (-5.0%)	$4.386M (-21.5%)	0.8%	$501.96	+14.5%	COM	883556102
PPL	PPL CORP	18,396 (-65.6%)	$712K (-62.0%)	0.1%	$26.92	+34.6%	COM	69351T106
GTLS	CHART INDS INC	3,000 (-62.5%)	$623K (-62.3%)	0.1%	$112.90	+83.4%	COM	16115Q308
BLK	BLACKROCK INC	221 (-80.5%)	$212K (-82.8%)	0.0%	$991.42	+10.7%	COM	09290D101
CBRE	CBRE GROUP INC	36,379 (-2.3%)	$4.954M (-16.9%)	0.9%	$157.23	+2.7%	CL A	12504L109
FERG	FERGUSON ENTERPRISES INC	3,408 (-54.6%)	$815K (-51.6%)	0.1%	$195.88	+28.2%	COMMON STOCK NEW	31488V107
SH	PROSHARES TR	26,653 (-47.5%)	$998K (-45.3%)	0.2%	$49.94	—	SHORT S&P 500 NE	74349Y753
NVDA	NVIDIA CORPORATION	37,255 (-3.7%)	$6.618M (-9.5%)	1.2%	$98.38	+89.7%	COM	67066G104
CMS	CMS ENERGY CORP	112,992 (-2.5%)	$8.851M (+8.5%)	1.6%	$54.23	+33.1%	COM	125896100
MPWR	MONOLITHIC PWR SYS INC	3,704 (-6.0%)	$4.371M (+18.5%)	0.8%	$960.73	+15.0%	COM	609839105
ENFR	ALPS ETF TR	115,229 (-2.7%)	$4.371M (+16.4%)	0.8%	$32.06	—	ALERIAN ENERGY	00162Q676
MUB	ISHARES TR	9,478 (-34.6%)	$1.009M (-35.1%)	0.2%	$106.25	—	NATIONAL MUN ETF	464288414
VMC	VULCAN MATLS CO	18,947 (-4.0%)	$5.336M (-7.6%)	1.0%	$215.96	+42.1%	COM	929160109
GS	GOLDMAN SACHS GROUP INC	1,000 (-23.1%)	$846K (-26.0%)	0.2%	$571.74	+63.1%	COM	38141G104
EPAM	EPAM SYS INC	1,500 (-40.0%)	$206K (-59.0%)	0.0%	$137.75	+38.4%	COM	29414B104
SSD	SIMPSON MFG INC	30,000 (-5.7%)	$5.028M (-4.0%)	0.9%	$178.32	+5.3%	COM	829073105
SUI	SUN CMNTYS INC	2,870 (-38.7%)	$367K (-35.8%)	0.1%	$114.91	—	COM	866674104
PH	PARKER-HANNIFIN CORP	1,000 (-20.0%)	$895K (-18.5%)	0.2%	$436.53	+119.4%	COM	701094104
BOND	PIMCO ETF TR	7,063 (-18.3%)	$651K (-19.0%)	0.1%	$92.32	—	ACTIVE BD ETF	72201R775
AGG	ISHARES TR	6,171 (-17.7%)	$611K (-18.4%)	0.1%	$99.18	—	CORE US AGGBD ET	464287226
GOVT	ISHARES TR	25,778 (-17.9%)	$589K (-18.5%)	0.1%	$23.03	—	US TREAS BD ETF	46429B267
DTM	DT MIDSTREAM INC	10,190 (-1.0%)	$1.359M (+9.1%)	0.2%	$50.09	+151.4%	COMMON STOCK	23345M107
TECB	ISHARES TR	9,555 (-11.2%)	$540K (-17.0%)	0.1%	$40.30	—	US TECH BRKTHR	46436E502
DE	DEERE & CO	1,500 (-26.8%)	$845K (-11.5%)	0.2%	$471.36	+17.0%	COM	244199105
WELL	WELLTOWER INC	35,484 (-5.5%)	$7.129M (+1.5%)	1.3%	$130.29	+43.5%	COM	95040Q104
IVW	ISHARES TR	9,813 (-1.7%)	$1.13M (-8.2%)	0.2%	$87.16	—	S&P 500 GRWT ETF	464287309
CMF	ISHARES TR	12,050 (-10.8%)	$686K (-11.7%)	0.1%	$55.59	—	CALIF MUN BD ETF	464288356
ELAN	ELANCO ANIMAL HEALTH INC	25,000 (-16.7%)	$598K (-11.9%)	0.1%	$21.76	+12.9%	COM	28414H103
JEPI	J P MORGAN EXCHANGE TRADED F	15,112 (-6.8%)	$857K (-7.8%)	0.2%	$58.08	—	EQUITY PREMIUM	46641Q332
KMI	KINDER MORGAN INC DEL	30,000 (-23.1%)	$1.006M (-6.2%)	0.2%	$21.94	+35.6%	COM	49456B101
JPIB	J P MORGAN EXCHANGE TRADED F	5,499 (-18.1%)	$262K (-20.0%)	0.0%	$47.76	—	INTL BD OPP ETF	46641Q852
TSLA	TESLA INC	617 (-3.1%)	$218K (-22.0%)	0.0%	$301.28	+41.4%	COM	88160R101
VUSB	VANGUARD BD INDEX FDS	5,254 (-17.7%)	$261K (-18.0%)	0.0%	$49.44	—	VANGUARD ULTRA	92203C303
HWM	HOWMET AEROSPACE INC	32,233 (-9.9%)	$7.625M (+0.6%)	1.4%	$109.18	+107.5%	COM	443201108
GFL	GFL ENVIRONMENTAL INC	64,866 (-2.8%)	$2.911M (+1.7%)	0.5%	$32.06	+33.9%	SUB VTG SHS	36168Q104
RTX	RTX CORPORATION	32,498 (-5.4%)	$6.448M (+0.2%)	1.2%	$94.72	+107.6%	COM	75513E101
AROC	ARCHROCK INC	17,000 (-26.1%)	$592K (-1.1%)	0.1%	$24.62	+18.8%	COM	03957W106

Unchanged Positions (28)

FTAI FTAI AVIATION LTD 1.0%

Value $5.369M Shares 21,751 Est. Cost $15.67 Unrealized +1628.2%

MS MORGAN STANLEY 1.1%

Value $5.846M Shares 35,100 Est. Cost $82.31 Unrealized +118.3%

PWR QUANTA SVCS INC 0.3%

Value $1.415M Shares 2,553 Est. Cost $124.30 Unrealized +291.2%

NEE NEXTERA ENERGY INC 0.2%

Value $1.123M Shares 12,114 Est. Cost $58.92 Unrealized +47.9%

AM ANTERO MIDSTREAM CORP 0.1%

Value $678K Shares 30,000 Est. Cost $15.67 Unrealized +21.8%

GOOG ALPHABET INC 0.4%

Value $2.185M Shares 7,341 Est. Cost $109.32 Unrealized +196.1%

LIND LINDBLAD EXPEDITIONS HLDGS I 0.1%

Value $664K Shares 38,000 Est. Cost $13.12 Unrealized +35.2%

OKE ONEOK INC NEW 0.1%

Value $681K Shares 7,698 Est. Cost $35.76 Unrealized +119.6%

ADP AUTOMATIC DATA PROCESSING IN 0.1%

Value $442K Shares 2,164 Est. Cost $194.80 Unrealized +23.6%

VTR VENTAS INC 0.3%

Value $1.403M Shares 16,916 Est. Cost $57.92 Unrealized +33.5%

SCHD SCHWAB STRATEGIC TR 0.2%

Value $844K Shares 27,552 Est. Cost $39.11 Unrealized —

HUBB HUBBELL INC 0.1%

Value $736K Shares 1,500 Est. Cost $437.22 Unrealized +13.3%

EZU ISHARES INC 0.5%

Value $2.619M Shares 41,200 Est. Cost $59.61 Unrealized —

NGS NATURAL GAS SVCS GROUP INC 0.1%

Value $567K Shares 15,000 Est. Cost $29.70 Unrealized +19.3%

BA BOEING CO 0.1%

Value $755K Shares 3,554 Est. Cost $188.88 Unrealized +26.3%

FEUZ FIRST TR EXCH TRD ALPHDX FD 0.3%

Value $1.508M Shares 23,600 Est. Cost $55.34 Unrealized —

LQD ISHARES TR 0.3%

Value $1.897M Shares 17,409 Est. Cost $108.93 Unrealized —

QQQ INVESCO QQQ TR 0.1%

Value $641K Shares 1,090 Est. Cost $197.91 Unrealized —

SEI SOLARIS ENERGY INFRAS INC 0.0%

Value $221K Shares 4,000 Est. Cost $48.29 Unrealized +9.8%

GLD SPDR GOLD TR 0.1%

Value $275K Shares 644 Est. Cost $354.79 Unrealized —

MCD MCDONALDS CORP 0.2%

Value $924K Shares 2,984 Est. Cost $272.97 Unrealized +16.2%

ORA ORMAT TECHNOLOGIES INC 0.1%

Value $553K Shares 5,000 Est. Cost $90.04 Unrealized +33.8%

MCRI MONARCH CASINO & RESORT INC 0.1%

Value $687K Shares 7,000 Est. Cost $52.37 Unrealized +78.5%

NG NOVAGOLD RESOURCES INC 0.1%

Value $726K Shares 80,000 Est. Cost $6.12 Unrealized +68.0%

AMD ADVANCED MICRO DEVICES INC 0.2%

Value $884K Shares 4,014 Est. Cost $108.87 Unrealized +103.6%

IWR ISHARES TR 0.1%

Value $781K Shares 7,910 Est. Cost $81.96 Unrealized —

DGRO ISHARES TR 0.1%

Value $707K Shares 10,011 Est. Cost $52.78 Unrealized —

JBLU JETBLUE AIRWAYS CORP 0.0%

Value $63,980 Shares 14,000 Est. Cost $6.21 Unrealized -12.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FTAI	FTAI AVIATION LTD	21,751	$5.369M	1.0%	$15.67	+1628.2%	SHS	G3730V105
MS	MORGAN STANLEY	35,100	$5.846M	1.1%	$82.31	+118.3%	COM NEW	617446448
PWR	QUANTA SVCS INC	2,553	$1.415M	0.3%	$124.30	+291.2%	COM	74762E102
NEE	NEXTERA ENERGY INC	12,114	$1.123M	0.2%	$58.92	+47.9%	COM	65339F101
AM	ANTERO MIDSTREAM CORP	30,000	$678K	0.1%	$15.67	+21.8%	COM	03676B102
GOOG	ALPHABET INC	7,341	$2.185M	0.4%	$109.32	+196.1%	CAP STK CL C	02079K107
LIND	LINDBLAD EXPEDITIONS HLDGS I	38,000	$664K	0.1%	$13.12	+35.2%	COM	535219109
OKE	ONEOK INC NEW	7,698	$681K	0.1%	$35.76	+119.6%	COM	682680103
ADP	AUTOMATIC DATA PROCESSING IN	2,164	$442K	0.1%	$194.80	+23.6%	COM	053015103
VTR	VENTAS INC	16,916	$1.403M	0.3%	$57.92	+33.5%	COM	92276F100
SCHD	SCHWAB STRATEGIC TR	27,552	$844K	0.2%	$39.11	—	US DIVIDEND EQ	808524797
HUBB	HUBBELL INC	1,500	$736K	0.1%	$437.22	+13.3%	COM	443510607
EZU	ISHARES INC	41,200	$2.619M	0.5%	$59.61	—	MSCI EURZONE ETF	464286608
NGS	NATURAL GAS SVCS GROUP INC	15,000	$567K	0.1%	$29.70	+19.3%	COM	63886Q109
BA	BOEING CO	3,554	$755K	0.1%	$188.88	+26.3%	COM	097023105
FEUZ	FIRST TR EXCH TRD ALPHDX FD	23,600	$1.508M	0.3%	$55.34	—	EURO ALPHADEX	33737J505
LQD	ISHARES TR	17,409	$1.897M	0.3%	$108.93	—	IBOXX INV CP ETF	464287242
QQQ	INVESCO QQQ TR	1,090	$641K	0.1%	$197.91	—	UNIT SER 1	46090E103
SEI	SOLARIS ENERGY INFRAS INC	4,000	$221K	0.0%	$48.29	+9.8%	COM CL A	83418M103
GLD	SPDR GOLD TR	644	$275K	0.1%	$354.79	—	GOLD SHS	78463V107
MCD	MCDONALDS CORP	2,984	$924K	0.2%	$272.97	+16.2%	COM	580135101
ORA	ORMAT TECHNOLOGIES INC	5,000	$553K	0.1%	$90.04	+33.8%	COM	686688102
MCRI	MONARCH CASINO & RESORT INC	7,000	$687K	0.1%	$52.37	+78.5%	COM	609027107
NG	NOVAGOLD RESOURCES INC	80,000	$726K	0.1%	$6.12	+68.0%	COM NEW	66987E206
AMD	ADVANCED MICRO DEVICES INC	4,014	$884K	0.2%	$108.87	+103.6%	COM	007903107
IWR	ISHARES TR	7,910	$781K	0.1%	$81.96	—	RUS MID CAP ETF	464287499
DGRO	ISHARES TR	10,011	$707K	0.1%	$52.78	—	CORE DIV GRWTH	46434V621
JBLU	JETBLUE AIRWAYS CORP	14,000	$63,980	0.0%	$6.21	-12.3%	COM	477143101