Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
DHR	DANAHER CORP	443,231	$130M	9.1%	$293.33 *	$70.12	+264.2%	COM	235851102
ICE	INTERCONTINENTAL EXCHANGE INC	836,372	$111M	7.7%	$132.12 *	$89.09	+41.0%	COM	45866F104
AJG	ARTHUR J GALLAGHER AND CO	578,649	$101M	7.1%	$174.60 *	$119.31	+41.1%	COM	363576109
—	COLFAX CORPORATION	2,188,061	$87.06M	6.1%	$39.79	$45.48	—	COM	194014106
APG	API GROUP CORP	3,936,382	$82.78M	5.8%	$21.03 *	$13.96	+0.4%	COM	00187Y100
AON	AON PLC/ IRELAND	225,527	$73.44M	5.1%	$325.63 *	$182.18	+73.9%	COM	G0403H108
WDAY	WORKDAY INC	287,620	$68.87M	4.8%	$239.46	$246.80	-3.0%	COM	98138H101
IQV	IQVIA HOLDINGS INC	277,991	$64.27M	4.5%	$231.21	$171.08	+35.1%	COM	46266C105
SNPS	SYNOPSYS INC	185,962	$61.98M	4.3%	$333.27	$157.62	+111.4%	COM	871607107
COST	COSTCO WHOLESALE CORP NEW	102,571	$59.07M	4.1%	$575.85 *	$138.58	+296.8%	COM	22160K105
SPGI	S&P GLOBAL INC	139,304	$57.14M	4.0%	$410.18 *	$103.89	+282.5%	COM	78409V104
FTV	FORTIVE CORP - W/I	932,404	$56.81M	4.0%	$60.93 *	$48.37	-6.6%	COM	34959J108
VEEV	VEEVA SYSTEMS INC-CLASS A	253,854	$53.93M	3.8%	$212.46	$233.18	-8.9%	COM	922475108
PTC	PTC INC	487,034	$52.46M	3.7%	$107.72	$104.41	+3.2%	COM	69370C100
CRM	SALESFORCE.COM INC	233,454	$49.57M	3.5%	$212.32	$218.23	-3.9%	COM	79466L302
RYAN	RYAN SPECIALTY GROUP HLDGS-A	1,212,068	$47.02M	3.3%	$38.79	$35.52	+9.2%	COM	78351F107
TFX	TELEFLEX INC	127,093	$45.1M	3.2%	$354.83 *	$329.31	+4.8%	COM	879369106
VNT	VONTIER CORPORATION	1,629,488	$41.37M	2.9%	$25.39	$32.13	-21.0%	COM	928881101
CTAS	CINTAS CORPORATION	96,402	$41.01M	2.9%	$425.39 *	$93.88	+9.5%	COM	172908105
YUMC	YUM CHINA HOLDINGS INC -W/I	872,826	$36.26M	2.5%	$41.54	$46.18	-10.1%	COM	98850P109
A	AGILENT TECHNOLOGIES INC	195,051	$25.81M	1.8%	$132.33 *	$80.66	+59.7%	COM	00846U101
RPRX	ROYALTY PHARMA PLC- CL A	421,081	$16.41M	1.1%	$38.96	$41.92	-7.1%	COM	G7709Q104
—	FRONTIER COMMUNICATIONS PARENT INC	484,322	$13.4M	0.9%	$27.67	$29.49	—	COM	35909D109
ELS	EQUITY LIFESTYLE PROPERTIES INC	148,759	$11.38M	0.8%	$76.48	$65.72	—	COM	29472R108
—	ALTAIR ENGINEERING INC - A	162,105	$10.44M	0.7%	$64.40	$68.77	—	COM	021369103
UPLD	UPLAND SOFTWARE INC	585,020	$10.3M	0.7%	$17.61 *	$40.82	-55.1%	COM	91544A109
INTA	INTAPP INC	285,071	$6.845M	0.5%	$24.01	$25.12	-4.4%	COM	45827U109
—	WNS HOLDINGS LIMITED	54,420	$4.652M	0.3%	$85.49	$43.69	—	ADR	92932M101
CME	CME GROUP INC	5,071	$1.206M	0.1%	$237.86 *	$110.33	+84.8%	COM	12572Q105
CCI	CROWN CASTLE INTL CORP	6,009	$1.109M	0.1%	$184.60 *	$94.94	+60.3%	COM	22822V101
WMG	WARNER MUSIC GROUP CORP-CL A	25,389	$961K	0.1%	$37.85 *	$27.69	+24.8%	COM	934550203
CPNG	COUPANG INC	47,241	$835K	0.1%	$17.68	$21.37	-17.3%	COM	22266T109
IEX	IDEX CORPORATION	4,355	$835K	0.1%	$191.73 *	$144.34	+26.5%	COM	45167R104
AWK	AMERICAN WATER WORKS CO INC	4,825	$799K	0.1%	$165.53 *	$108.13	+41.3%	COM	030420103
CMCSA	COMCAST CORP CLASS A NEW SHARES	11,766	$551K	0.0%	$46.82 *	$28.26	+47.4%	COM	20030N101
SBUX	STARBUCKS CORPORATION	5,834	$531K	0.0%	$90.97 *	$73.09	+13.6%	COM	855244109
NYT	NEW YORK TIMES COMPANY CLASS	9,693	$444K	0.0%	$45.84 *	$45.75	-4.1%	COM	650111107
STVN	STEVANATO GROUP SPA	20,715	$417K	0.0%	$20.12	$18.82	+5.7%	COM	T9224W109
RSVR	RESERVOIR MEDIA INC	11,637	$114K	0.0%	$9.83	$8.40	+17.0%	COM	76119X105
INMD	INMODE LTD	1,930	$71,236	0.0%	$36.91	$70.89	-47.9%	COM	M5425M103
PCOR	PROCORE TECHNOLOGIES INC	436	$25,271	0.0%	$57.96	$63.57	-8.8%	COM	74275K108
MKTX	MARKETAXESS HOLDINGS INC	72	$24,494	0.0%	$340.19 *	$373.74	-13.5%	COM	57060D108