Sandhill Capital Partners LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SYK	STRYKER CORP	111,030	$36,483	3.1%	$364.67	0.0%	COM	863667101
PVAL	PUTNAM FOCUSED LARGE CAP VALUE	38,902	$1,805	0.2%	$46.40	—	COM	746729300
FFLC	FIDELITY FUNDAMENTAL LARGE CAP	30,772	$1,578	0.1%	$51.28	—	COM	316092360
VEU	VANGUARD FTSE ALL-WORLD EX-US	15,224	$1,143	0.1%	$75.10	—	COM	922042775
AGG	ISHARES CORE U.S. AGGREGATE BO	9,992	$992	0.1%	$99.27	—	COM	464287226
IVW	ISHARES S&P 500 GROWTH ETF	6,606	$747	0.1%	$113.11	—	COM	464287309
—	F/M US TREASURY 3 MONTH BILL F	13,877	$692	0.1%	$49.86	—	COM	74933w452
—	NVIDIA CORP	1,965	$343	0.0%	$174.40	—	COM	67066g104

Increased Positions (18)

TXN TEXAS INSTRS INC 3.1%

Value ($000) $36,017 (+774.5%) Shares 185,521 (+681.5%) Est. Cost $199.69 Unrealized +3.3%

MSFT MICROSOFT CORP 3.9%

Value ($000) $45,087 (+236.5%) Shares 121,801 (+339.6%) Est. Cost $389.72 Unrealized +11.5%

AMZN AMAZON.COM INC 3.1%

Value ($000) $35,785 (+669.5%) Shares 171,821 (+752.8%) Est. Cost $224.24 Unrealized +1.2%

— STATE STREET SPDR BLOOMBERG 1- 9.9%

Value ($000) $115,128 (+27.2%) Shares 1,256,313 (+26.8%) Est. Cost $91.71 Unrealized —

— BROADCOM INC 3.0%

Value ($000) $34,722 (+148.6%) Shares 112,184 (+178.0%) Est. Cost $283.80 Unrealized —

CR CRANE CO 3.1%

Value ($000) $36,083 (+109.6%) Shares 211,009 (+126.1%) Est. Cost $187.34 Unrealized +5.8%

— SERVICENOW INC 4.9%

Value ($000) $56,941 (+13.5%) Shares 544,634 (+66.3%) Est. Cost $229.00 Unrealized —

— GUIDEWIRE SOFTWARE INC 3.1%

Value ($000) $36,199 (-13.2%) Shares 242,036 (+16.6%) Est. Cost $205.99 Unrealized —

— AECOM 4.3%

Value ($000) $49,659 (+10.3%) Shares 585,464 (+24.0%) Est. Cost $121.64 Unrealized —

IVV ISHARES CORE S&P 500 ETF 0.4%

Value ($000) $4,149 (+119.5%) Shares 6,351 (+130.1%) Est. Cost $541.46 Unrealized —

IJH ISHARES CORE S&P MID-CAP ETF 0.1%

Value ($000) $1,077 (+98.1%) Shares 15,946 (+93.6%) Est. Cost $80.64 Unrealized —

AJG GALLAGHER ARTHUR J & CO 3.2%

Value ($000) $37,259 (+0.7%) Shares 172,035 (+20.4%) Est. Cost $282.83 Unrealized -15.0%

— ISHARES CORE MSCI EAFE ETF 0.1%

Value ($000) $1,371 (+15.1%) Shares 15,143 (+13.7%) Est. Cost $73.63 Unrealized —

— SPDR GOLD SHARES 0.0%

Value ($000) $504 (+51.8%) Shares 1,172 (+39.9%) Est. Cost $303.39 Unrealized —

AVUS AVANTIS US EQUITY ETF 0.0%

Value ($000) $404 (+19.8%) Shares 3,636 (+20.5%) Est. Cost $105.60 Unrealized —

BRK/B BERKSHIRE HATHAWAY CLASS B 0.1%

Value ($000) $676 (+9.8%) Shares 1,410 (+15.2%) Est. Cost $485.56 Unrealized +1.6%

— ALPHABET INC CLASS A 0.0%

Value ($000) $517 (+9.8%) Shares 1,797 (+19.5%) Est. Cost $216.53 Unrealized —

IGIB ISHARES 5-10 YEAR INVESTMENT G 0.0%

Value ($000) $409 (+2.4%) Shares 7,682 (+3.7%) Est. Cost $52.95 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TXN	TEXAS INSTRS INC	185,521 (+681.5%)	$36,017 (+774.5%)	3.1%	$199.69	+3.3%	COM	882508104
MSFT	MICROSOFT CORP	121,801 (+339.6%)	$45,087 (+236.5%)	3.9%	$389.72	+11.5%	COM	594918104
AMZN	AMAZON.COM INC	171,821 (+752.8%)	$35,785 (+669.5%)	3.1%	$224.24	+1.2%	COM	023135106
—	STATE STREET SPDR BLOOMBERG 1-	1,256,313 (+26.8%)	$115,128 (+27.2%)	9.9%	$91.71	—	COM	78468r663
—	BROADCOM INC	112,184 (+178.0%)	$34,722 (+148.6%)	3.0%	$283.80	—	COM	11135f101
CR	CRANE CO	211,009 (+126.1%)	$36,083 (+109.6%)	3.1%	$187.34	+5.8%	COM	224408104
—	SERVICENOW INC	544,634 (+66.3%)	$56,941 (+13.5%)	4.9%	$229.00	—	COM	81762p102
—	GUIDEWIRE SOFTWARE INC	242,036 (+16.6%)	$36,199 (-13.2%)	3.1%	$205.99	—	COM	40171v100
—	AECOM	585,464 (+24.0%)	$49,659 (+10.3%)	4.3%	$121.64	—	COM	00766t100
IVV	ISHARES CORE S&P 500 ETF	6,351 (+130.1%)	$4,149 (+119.5%)	0.4%	$541.46	—	COM	464287200
IJH	ISHARES CORE S&P MID-CAP ETF	15,946 (+93.6%)	$1,077 (+98.1%)	0.1%	$80.64	—	COM	464287507
AJG	GALLAGHER ARTHUR J & CO	172,035 (+20.4%)	$37,259 (+0.7%)	3.2%	$282.83	-15.0%	COM	363576109
—	ISHARES CORE MSCI EAFE ETF	15,143 (+13.7%)	$1,371 (+15.1%)	0.1%	$73.63	—	COM	46432f842
—	SPDR GOLD SHARES	1,172 (+39.9%)	$504 (+51.8%)	0.0%	$303.39	—	COM	78463v107
AVUS	AVANTIS US EQUITY ETF	3,636 (+20.5%)	$404 (+19.8%)	0.0%	$105.60	—	COM	025072885
BRK/B	BERKSHIRE HATHAWAY CLASS B	1,410 (+15.2%)	$676 (+9.8%)	0.1%	$485.56	+1.6%	COM	084670702
—	ALPHABET INC CLASS A	1,797 (+19.5%)	$517 (+9.8%)	0.0%	$216.53	—	COM	02079k305
IGIB	ISHARES 5-10 YEAR INVESTMENT G	7,682 (+3.7%)	$409 (+2.4%)	0.0%	$52.95	—	COM	464288638

Exited Positions (17)

TYL TYLER TECHNOLOGIES INC 3.9%

Value ($000) $45,456 Shares 100,135 Est. Cost $341.89 Unrealized +12.6%

CDNS CADENCE DESIGN SYS INC 3.5%

Value ($000) $40,366 Shares 129,137 Est. Cost $285.21 Unrealized +6.3%

— SERVICETITAN INC CLASS A 3.1%

Value ($000) $36,599 Shares 343,650 Est. Cost $102.07 Unrealized —

— SITEONE LANDSCAPE SUPPLY 1.4%

Value ($000) $15,721 Shares 126,212 Est. Cost $128.80 Unrealized —

— STATE STREET SPDR S&P 500 TRUS 1.0%

Value ($000) $11,531 Shares 16,910 Est. Cost $681.92 Unrealized —

— TESLA INC 0.1%

Value ($000) $820 Shares 1,823 Est. Cost $331.73 Unrealized —

— BROADSTONE NET LEASE INC REIT 0.1%

Value ($000) $795 Shares 45,769 Est. Cost $14.30 Unrealized —

INTC INTEL CORP 0.1%

Value ($000) $764 Shares 20,696 Est. Cost $39.18 Unrealized +18.5%

LHX L3HARRIS TECHNOLOGIES IN 0.0%

Value ($000) $528 Shares 1,800 Est. Cost $161.77 Unrealized +112.1%

DHR DANAHER CORP 0.0%

Value ($000) $518 Shares 2,263 Est. Cost $221.55 Unrealized +1.4%

— BITWISE BITCOIN ETF 0.0%

Value ($000) $506 Shares 10,635 Est. Cost $52.37 Unrealized —

— ADOBE INC 0.0%

Value ($000) $267 Shares 762 Est. Cost $555.54 Unrealized —

DIS DISNEY WALT CO 0.0%

Value ($000) $267 Shares 2,343 Est. Cost $140.97 Unrealized -22.4%

— MASTERCARD INC CLASS CLASS A 0.0%

Value ($000) $228 Shares 400 Est. Cost $568.81 Unrealized —

IBM IBM CORP 0.0%

Value ($000) $221 Shares 745 Est. Cost $254.73 Unrealized +11.5%

GGG GRACO INC 0.0%

Value ($000) $209 Shares 2,547 Est. Cost $71.85 Unrealized +24.1%

— VANECK BITCOIN ETF 0.0%

Value ($000) $208 Shares 8,416 Est. Cost $30.57 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TYL	TYLER TECHNOLOGIES INC	100,135	$45,456	3.9%	$341.89	+12.6%	—	902252105
CDNS	CADENCE DESIGN SYS INC	129,137	$40,366	3.5%	$285.21	+6.3%	—	127387108
—	SERVICETITAN INC CLASS A	343,650	$36,599	3.1%	$102.07	—	—	81764x103
—	SITEONE LANDSCAPE SUPPLY	126,212	$15,721	1.4%	$128.80	—	—	82982l103
—	STATE STREET SPDR S&P 500 TRUS	16,910	$11,531	1.0%	$681.92	—	—	78462f103
—	TESLA INC	1,823	$820	0.1%	$331.73	—	—	88160r101
—	BROADSTONE NET LEASE INC REIT	45,769	$795	0.1%	$14.30	—	—	11135e203
INTC	INTEL CORP	20,696	$764	0.1%	$39.18	+18.5%	—	458140100
LHX	L3HARRIS TECHNOLOGIES IN	1,800	$528	0.0%	$161.77	+112.1%	—	502431109
DHR	DANAHER CORP	2,263	$518	0.0%	$221.55	+1.4%	—	235851102
—	BITWISE BITCOIN ETF	10,635	$506	0.0%	$52.37	—	—	09174c104
—	ADOBE INC	762	$267	0.0%	$555.54	—	—	00724f101
DIS	DISNEY WALT CO	2,343	$267	0.0%	$140.97	-22.4%	—	254687106
—	MASTERCARD INC CLASS CLASS A	400	$228	0.0%	$568.81	—	—	57636q104
IBM	IBM CORP	745	$221	0.0%	$254.73	+11.5%	—	459200101
GGG	GRACO INC	2,547	$209	0.0%	$71.85	+24.1%	—	384109104
—	VANECK BITCOIN ETF	8,416	$208	0.0%	$30.57	—	—	92189k105

Decreased Positions (48)

HUBB HUBBELL INC 0.0%

Value ($000) $217 (-99.5%) Shares 442 (-99.6%) Est. Cost $382.79 Unrealized +29.4%

USB US BANCORP DEL 0.6%

Value ($000) $6,693 (-86.9%) Shares 128,688 (-86.6%) Est. Cost $37.88 Unrealized +49.5%

APH AMPHENOL CORP NEW CLASS CLASS 4.1%

Value ($000) $47,852 (-42.2%) Shares 378,730 (-38.2%) Est. Cost $43.87 Unrealized +233.7%

PANW PALO ALTO NETWORKS INC 3.6%

Value ($000) $42,400 (-42.6%) Shares 264,469 (-34.0%) Est. Cost $131.96 Unrealized +30.5%

— INTUITIVE SURGICAL INC 3.2%

Value ($000) $36,737 (-43.3%) Shares 79,691 (-30.4%) Est. Cost $447.23 Unrealized —

— SPX TECHNOLOGIES INC 3.0%

Value ($000) $35,432 (-35.5%) Shares 177,215 (-35.4%) Est. Cost $186.78 Unrealized —

ANET ARISTA NETWORKS INC 2.9%

Value ($000) $33,425 (-32.2%) Shares 272,232 (-27.6%) Est. Cost $96.18 Unrealized +40.4%

GE GE AEROSPACE 3.8%

Value ($000) $44,022 (-25.4%) Shares 155,133 (-19.0%) Est. Cost $159.63 Unrealized +99.3%

— S&P GLOBAL INC 2.6%

Value ($000) $30,707 (-26.5%) Shares 72,194 (-9.7%) Est. Cost $486.71 Unrealized —

— UBER TECHNOLOGIES INC 3.6%

Value ($000) $41,356 (-20.7%) Shares 574,944 (-9.9%) Est. Cost $97.97 Unrealized —

— ISHARES 0-3 MONTH TREASURY BON 1.1%

Value ($000) $13,156 (-44.1%) Shares 130,697 (-44.3%) Est. Cost $100.53 Unrealized —

— BOOKING HLDGS INC 2.0%

Value ($000) $23,206 (-27.9%) Shares 5,512 (-8.2%) Est. Cost $5398.87 Unrealized —

SCHW CHARLES SCHWAB CORP 4.2%

Value ($000) $48,599 (-15.1%) Shares 517,124 (-9.7%) Est. Cost $52.34 Unrealized +91.3%

— LINDE PLC F 3.5%

Value ($000) $41,011 (+6.9%) Shares 82,723 (-8.0%) Est. Cost $475.00 Unrealized —

AXP AMERICAN EXPRESS CO 0.5%

Value ($000) $6,068 (-24.8%) Shares 20,061 (-8.0%) Est. Cost $133.29 Unrealized +167.2%

— JPMORGAN CHASE & CO 0.8%

Value ($000) $8,804 (-17.9%) Shares 29,929 (-10.1%) Est. Cost $167.78 Unrealized —

AAPL APPLE INC 1.0%

Value ($000) $11,592 (-13.4%) Shares 45,677 (-7.3%) Est. Cost $129.10 Unrealized +103.6%

VBIL VANGUARD 0-3 MONTH TREASURY BI 0.1%

Value ($000) $871 (-66.9%) Shares 11,507 (-67.0%) Est. Cost $75.43 Unrealized —

QCOM QUALCOMM INC 0.3%

Value ($000) $3,745 (-29.5%) Shares 29,077 (-6.4%) Est. Cost $124.41 Unrealized +23.7%

CVX CHEVRON CORP NEW 0.6%

Value ($000) $6,812 (+29.3%) Shares 32,922 (-4.8%) Est. Cost $109.59 Unrealized +56.8%

— BLACKROCK INC NEW 0.5%

Value ($000) $5,824 (-20.2%) Shares 6,056 (-11.2%) Est. Cost $949.51 Unrealized —

— UNITEDHEALTH GROUP INC 0.2%

Value ($000) $2,789 (-34.1%) Shares 10,308 (-19.6%) Est. Cost $455.66 Unrealized —

— SALESFORCE INC 0.2%

Value ($000) $2,523 (-36.0%) Shares 13,517 (-9.2%) Est. Cost $268.36 Unrealized —

PAYX PAYCHEX INC 0.3%

Value ($000) $2,969 (-25.7%) Shares 32,231 (-9.5%) Est. Cost $86.07 Unrealized +18.5%

— VISA INC CLASS CLASS A 0.3%

Value ($000) $3,900 (-20.1%) Shares 12,902 (-7.3%) Est. Cost $354.88 Unrealized —

— TRANE TECHNOLOGIES PLC F 3.1%

Value ($000) $35,826 (-2.6%) Shares 85,966 (-9.1%) Est. Cost $421.96 Unrealized —

CAT CATERPILLAR INC 0.9%

Value ($000) $10,096 (+10.4%) Shares 14,251 (-10.7%) Est. Cost $155.29 Unrealized +340.7%

JNJ JOHNSON & JOHNSON 0.5%

Value ($000) $6,331 (+10.1%) Shares 25,899 (-6.8%) Est. Cost $133.61 Unrealized +70.6%

— VERIZON COMMUNICATIONS I 0.3%

Value ($000) $3,623 (+16.2%) Shares 72,170 (-5.7%) Est. Cost $33.42 Unrealized —

HD HOME DEPOT INC 0.4%

Value ($000) $4,739 (-9.0%) Shares 14,408 (-4.8%) Est. Cost $221.53 Unrealized +70.2%

DOW DOW INC 0.1%

Value ($000) $985 (+75.5%) Shares 23,656 (-1.5%) Est. Cost $44.92 Unrealized -35.3%

PG PROCTER & GAMBLE CO 0.6%

Value ($000) $6,742 (-4.0%) Shares 46,678 (-4.8%) Est. Cost $121.82 Unrealized +24.6%

— MERCK & CO. INC. 0.5%

Value ($000) $5,295 (+5.3%) Shares 44,020 (-7.9%) Est. Cost $101.51 Unrealized —

MCD MCDONALDS CORP 0.4%

Value ($000) $5,157 (-4.6%) Shares 16,594 (-6.1%) Est. Cost $193.67 Unrealized +63.8%

— EDWARDS LIFESCIENCES COR 0.1%

Value ($000) $1,267 (-10.3%) Shares 15,822 (-4.5%) Est. Cost $69.53 Unrealized —

— CME GROUP INC CLASS CLASS A 0.5%

Value ($000) $5,883 (-2.1%) Shares 19,918 (-9.5%) Est. Cost $270.19 Unrealized —

— M&T BK CORP 0.0%

Value ($000) $370 (-22.3%) Shares 1,790 (-24.3%) Est. Cost $132.89 Unrealized —

— WASTE MGMT INC DEL 0.5%

Value ($000) $5,955 (-1.7%) Shares 25,914 (-6.0%) Est. Cost $153.82 Unrealized —

KO THE COCA-COLA CO 0.4%

Value ($000) $5,220 (+0.9%) Shares 68,645 (-7.2%) Est. Cost $50.36 Unrealized +48.4%

— AT&T INC 0.0%

Value ($000) $485 (+9.8%) Shares 16,720 (-5.9%) Est. Cost $16.02 Unrealized —

— JOHNSON CONTROLS INT F 0.7%

Value ($000) $7,839 (+0.5%) Shares 59,859 (-8.1%) Est. Cost $54.12 Unrealized —

MDLZ MONDELEZ INTL INC CLASS CLASS 0.0%

Value ($000) $338 (+5.9%) Shares 5,860 (-1.1%) Est. Cost $48.53 Unrealized +19.8%

VB VANGUARD SMALL-CAP INDEX FUND 0.1%

Value ($000) $655 (-2.7%) Shares 2,502 (-4.2%) Est. Cost $221.76 Unrealized —

LSBK LAKE SHORE BANCORP INC M 0.0%

Value ($000) $275 (-6.2%) Shares 18,116 (-9.4%) Est. Cost $12.57 Unrealized +21.7%

LQD ISHARES IBOXX $ INVESTMENT GRA 0.0%

Value ($000) $272 (-5.6%) Shares 2,500 (-4.6%) Est. Cost $110.65 Unrealized —

HON HONEYWELL INTL INC 0.0%

Value ($000) $443 (-0.9%) Shares 1,958 (-14.5%) Est. Cost $185.78 Unrealized +21.6%

— TRAVELERS COS INC 0.0%

Value ($000) $204 (-0.9%) Shares 700 (-1.4%) Est. Cost $290.26 Unrealized —

IWM ISHARES RUSSELL 2000 ETF 0.0%

Value ($000) $256 (-0.3%) Shares 1,034 (-1.1%) Est. Cost $242.72 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HUBB	HUBBELL INC	442 (-99.6%)	$217 (-99.5%)	0.0%	$382.79	+29.4%	COM	443510607
USB	US BANCORP DEL	128,688 (-86.6%)	$6,693 (-86.9%)	0.6%	$37.88	+49.5%	COM	902973304
APH	AMPHENOL CORP NEW CLASS CLASS	378,730 (-38.2%)	$47,852 (-42.2%)	4.1%	$43.87	+233.7%	COM	032095101
PANW	PALO ALTO NETWORKS INC	264,469 (-34.0%)	$42,400 (-42.6%)	3.6%	$131.96	+30.5%	COM	697435105
—	INTUITIVE SURGICAL INC	79,691 (-30.4%)	$36,737 (-43.3%)	3.2%	$447.23	—	COM	46120e602
—	SPX TECHNOLOGIES INC	177,215 (-35.4%)	$35,432 (-35.5%)	3.0%	$186.78	—	COM	78473e103
ANET	ARISTA NETWORKS INC	272,232 (-27.6%)	$33,425 (-32.2%)	2.9%	$96.18	+40.4%	COM	040413205
GE	GE AEROSPACE	155,133 (-19.0%)	$44,022 (-25.4%)	3.8%	$159.63	+99.3%	COM	369604301
—	S&P GLOBAL INC	72,194 (-9.7%)	$30,707 (-26.5%)	2.6%	$486.71	—	COM	78409v104
—	UBER TECHNOLOGIES INC	574,944 (-9.9%)	$41,356 (-20.7%)	3.6%	$97.97	—	COM	90353t100
—	ISHARES 0-3 MONTH TREASURY BON	130,697 (-44.3%)	$13,156 (-44.1%)	1.1%	$100.53	—	COM	46436e718
—	BOOKING HLDGS INC	5,512 (-8.2%)	$23,206 (-27.9%)	2.0%	$5398.87	—	COM	09857l108
SCHW	CHARLES SCHWAB CORP	517,124 (-9.7%)	$48,599 (-15.1%)	4.2%	$52.34	+91.3%	COM	808513105
—	LINDE PLC F	82,723 (-8.0%)	$41,011 (+6.9%)	3.5%	$475.00	—	COM	g54950103
AXP	AMERICAN EXPRESS CO	20,061 (-8.0%)	$6,068 (-24.8%)	0.5%	$133.29	+167.2%	COM	025816109
—	JPMORGAN CHASE & CO	29,929 (-10.1%)	$8,804 (-17.9%)	0.8%	$167.78	—	COM	46625h100
AAPL	APPLE INC	45,677 (-7.3%)	$11,592 (-13.4%)	1.0%	$129.10	+103.6%	COM	037833100
VBIL	VANGUARD 0-3 MONTH TREASURY BI	11,507 (-67.0%)	$871 (-66.9%)	0.1%	$75.43	—	COM	922040845
QCOM	QUALCOMM INC	29,077 (-6.4%)	$3,745 (-29.5%)	0.3%	$124.41	+23.7%	COM	747525103
CVX	CHEVRON CORP NEW	32,922 (-4.8%)	$6,812 (+29.3%)	0.6%	$109.59	+56.8%	COM	166764100
—	BLACKROCK INC NEW	6,056 (-11.2%)	$5,824 (-20.2%)	0.5%	$949.51	—	COM	09290d101
—	UNITEDHEALTH GROUP INC	10,308 (-19.6%)	$2,789 (-34.1%)	0.2%	$455.66	—	COM	91324p102
—	SALESFORCE INC	13,517 (-9.2%)	$2,523 (-36.0%)	0.2%	$268.36	—	COM	79466l302
PAYX	PAYCHEX INC	32,231 (-9.5%)	$2,969 (-25.7%)	0.3%	$86.07	+18.5%	COM	704326107
—	VISA INC CLASS CLASS A	12,902 (-7.3%)	$3,900 (-20.1%)	0.3%	$354.88	—	COM	92826c839
—	TRANE TECHNOLOGIES PLC F	85,966 (-9.1%)	$35,826 (-2.6%)	3.1%	$421.96	—	COM	g8994e103
CAT	CATERPILLAR INC	14,251 (-10.7%)	$10,096 (+10.4%)	0.9%	$155.29	+340.7%	COM	149123101
JNJ	JOHNSON & JOHNSON	25,899 (-6.8%)	$6,331 (+10.1%)	0.5%	$133.61	+70.6%	COM	478160104
—	VERIZON COMMUNICATIONS I	72,170 (-5.7%)	$3,623 (+16.2%)	0.3%	$33.42	—	COM	92343v104
HD	HOME DEPOT INC	14,408 (-4.8%)	$4,739 (-9.0%)	0.4%	$221.53	+70.2%	COM	437076102
DOW	DOW INC	23,656 (-1.5%)	$985 (+75.5%)	0.1%	$44.92	-35.3%	COM	260557103
PG	PROCTER & GAMBLE CO	46,678 (-4.8%)	$6,742 (-4.0%)	0.6%	$121.82	+24.6%	COM	742718109
—	MERCK & CO. INC.	44,020 (-7.9%)	$5,295 (+5.3%)	0.5%	$101.51	—	COM	58933y105
MCD	MCDONALDS CORP	16,594 (-6.1%)	$5,157 (-4.6%)	0.4%	$193.67	+63.8%	COM	580135101
—	EDWARDS LIFESCIENCES COR	15,822 (-4.5%)	$1,267 (-10.3%)	0.1%	$69.53	—	COM	28176e108
—	CME GROUP INC CLASS CLASS A	19,918 (-9.5%)	$5,883 (-2.1%)	0.5%	$270.19	—	COM	12572q105
—	M&T BK CORP	1,790 (-24.3%)	$370 (-22.3%)	0.0%	$132.89	—	COM	55261f104
—	WASTE MGMT INC DEL	25,914 (-6.0%)	$5,955 (-1.7%)	0.5%	$153.82	—	COM	94106l109
KO	THE COCA-COLA CO	68,645 (-7.2%)	$5,220 (+0.9%)	0.4%	$50.36	+48.4%	COM	191216100
—	AT&T INC	16,720 (-5.9%)	$485 (+9.8%)	0.0%	$16.02	—	COM	00206r102
—	JOHNSON CONTROLS INT F	59,859 (-8.1%)	$7,839 (+0.5%)	0.7%	$54.12	—	COM	g51502105
MDLZ	MONDELEZ INTL INC CLASS CLASS	5,860 (-1.1%)	$338 (+5.9%)	0.0%	$48.53	+19.8%	COM	609207105
VB	VANGUARD SMALL-CAP INDEX FUND	2,502 (-4.2%)	$655 (-2.7%)	0.1%	$221.76	—	COM	922908751
LSBK	LAKE SHORE BANCORP INC M	18,116 (-9.4%)	$275 (-6.2%)	0.0%	$12.57	+21.7%	COM	510704109
LQD	ISHARES IBOXX $ INVESTMENT GRA	2,500 (-4.6%)	$272 (-5.6%)	0.0%	$110.65	—	COM	464287242
HON	HONEYWELL INTL INC	1,958 (-14.5%)	$443 (-0.9%)	0.0%	$185.78	+21.6%	COM	438516106
—	TRAVELERS COS INC	700 (-1.4%)	$204 (-0.9%)	0.0%	$290.26	—	COM	89417e109
IWM	ISHARES RUSSELL 2000 ETF	1,034 (-1.1%)	$256 (-0.3%)	0.0%	$242.72	—	COM	464287655

Unchanged Positions (21)

— EXXON MOBIL CORP 0.1%

Value ($000) $784 Shares 4,622 Est. Cost $117.26 Unrealized —

GIS GENERAL MILLS INC 0.1%

Value ($000) $713 Shares 19,159 Est. Cost $53.42 Unrealized -14.9%

— GOLDMAN SACHS GROUP INC 0.5%

Value ($000) $5,632 Shares 6,657 Est. Cost $550.50 Unrealized —

VOO VANGUARD S&P 500 ETF 0.2%

Value ($000) $2,405 Shares 4,025 Est. Cost $564.20 Unrealized —

— 3M CO 0.1%

Value ($000) $1,238 Shares 8,524 Est. Cost $95.58 Unrealized —

INTU INTUIT 0.0%

Value ($000) $215 Shares 497 Est. Cost $403.22 Unrealized +23.4%

LVMUY LVMH MOET HENNESSY LOU F SPONS 0.0%

Value ($000) $258 Shares 2,359 Est. Cost $156.82 Unrealized —

ADP AUTOMATIC DATA PROCESSIN 0.0%

Value ($000) $345 Shares 1,699 Est. Cost $203.77 Unrealized +18.2%

CL COLGATE PALMOLIVE CO 0.1%

Value ($000) $682 Shares 8,000 Est. Cost $61.94 Unrealized +43.3%

— TENCENT HLDGS LTD F UNSPONSORE 0.0%

Value ($000) $231 Shares 3,646 Est. Cost $55.40 Unrealized —

LH LABCORP HLDGS INC 0.1%

Value ($000) $640 Shares 2,400 Est. Cost $199.50 Unrealized +35.9%

SYY SYSCO CORP 0.1%

Value ($000) $1,147 Shares 16,074 Est. Cost $64.75 Unrealized +27.0%

URI UNITED RENTALS INC 0.0%

Value ($000) $329 Shares 452 Est. Cost $405.89 Unrealized +117.5%

— IDEX CORP 0.0%

Value ($000) $551 Shares 2,907 Est. Cost $208.02 Unrealized —

— GAIN THERAPEUTICS INC 0.0%

Value ($000) $30 Shares 15,400 Est. Cost $1.78 Unrealized —

— ZOETIS INC CLASS CLASS A 0.0%

Value ($000) $296 Shares 2,508 Est. Cost $164.65 Unrealized —

— TRUIST FINL CORP 0.0%

Value ($000) $221 Shares 4,818 Est. Cost $30.89 Unrealized —

— ZIMMER BIOMET HLDGS INC 0.1%

Value ($000) $1,268 Shares 14,021 Est. Cost $131.98 Unrealized —

— VANGUARD LONG-TERM CORPORATE B 0.0%

Value ($000) $309 Shares 4,139 Est. Cost $75.91 Unrealized —

PH PARKER-HANNIFIN CORP 0.0%

Value ($000) $257 Shares 287 Est. Cost $628.26 Unrealized +52.5%

— EXTRA SPACE STORAGE INC REIT 0.0%

Value ($000) $339 Shares 2,588 Est. Cost $121.58 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	EXXON MOBIL CORP	4,622	$784	0.1%	$117.26	—	COM	30231g102
GIS	GENERAL MILLS INC	19,159	$713	0.1%	$53.42	-14.9%	COM	370334104
—	GOLDMAN SACHS GROUP INC	6,657	$5,632	0.5%	$550.50	—	COM	38141g104
VOO	VANGUARD S&P 500 ETF	4,025	$2,405	0.2%	$564.20	—	COM	922908363
—	3M CO	8,524	$1,238	0.1%	$95.58	—	COM	88579y101
INTU	INTUIT	497	$215	0.0%	$403.22	+23.4%	COM	461202103
LVMUY	LVMH MOET HENNESSY LOU F SPONS	2,359	$258	0.0%	$156.82	—	COM	502441306
ADP	AUTOMATIC DATA PROCESSIN	1,699	$345	0.0%	$203.77	+18.2%	COM	053015103
CL	COLGATE PALMOLIVE CO	8,000	$682	0.1%	$61.94	+43.3%	COM	194162103
—	TENCENT HLDGS LTD F UNSPONSORE	3,646	$231	0.0%	$55.40	—	ADR	88032q109
LH	LABCORP HLDGS INC	2,400	$640	0.1%	$199.50	+35.9%	COM	504922105
SYY	SYSCO CORP	16,074	$1,147	0.1%	$64.75	+27.0%	COM	871829107
URI	UNITED RENTALS INC	452	$329	0.0%	$405.89	+117.5%	COM	911363109
—	IDEX CORP	2,907	$551	0.0%	$208.02	—	COM	45167r104
—	GAIN THERAPEUTICS INC	15,400	$30	0.0%	$1.78	—	COM	36269b105
—	ZOETIS INC CLASS CLASS A	2,508	$296	0.0%	$164.65	—	COM	98978v103
—	TRUIST FINL CORP	4,818	$221	0.0%	$30.89	—	COM	89832q109
—	ZIMMER BIOMET HLDGS INC	14,021	$1,268	0.1%	$131.98	—	COM	98956p102
—	VANGUARD LONG-TERM CORPORATE B	4,139	$309	0.0%	$75.91	—	COM	92206c813
PH	PARKER-HANNIFIN CORP	287	$257	0.0%	$628.26	+52.5%	COM	701094104
—	EXTRA SPACE STORAGE INC REIT	2,588	$339	0.0%	$121.58	—	COM	30225t102