Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WIX	WIX COM LTD	2,041,688	$184M	1.9%	$81.46	0.0%	SHS	M98068105
CRH	CRH PLC	1,477,777	$155M	1.6%	$124.33	0.0%	ORD	G25508105
ENTG	ENTEGRIS INC	971,701	$114M	1.2%	$118.35	0.0%	COM	29362U104
FN	FABRINET	216,472	$113M	1.2%	$492.64	0.0%	SHS	G3323L100
AIT	APPLIED INDL TECHNOLOGIES IN	296,601	$78.69M	0.8%	$275.64	0.0%	COM	03820C105
FLS	FLOWSERVE CORP	951,798	$69.97M	0.7%	$80.71	0.0%	COM	34354P105
ESAB	ESAB CORPORATION	34,315	$3.317M	0.0%	$123.42	0.0%	COM	29605J106
XMTR	XOMETRY INC	55,405	$2.263M	0.0%	$60.61	0.0%	CLASS A COM	98423F109

Increased Positions (13)

Q QNITY ELECTRONICS INC 6.0%

Value $587M (+156.7%) Shares 5,088,108 (+81.7%) Est. Cost $92.24 Unrealized +9.7%

IWM ISHARES TR 2.6%

Value $255M (+969.8%) Shares 1,027,614 (+961.8%) Est. Cost $247.83 Unrealized —

DASH DOORDASH INC 6.6%

Value $642M (-20.8%) Shares 4,276,006 (+19.5%) Est. Cost $218.41 Unrealized -9.9%

FERG FERGUSON ENTERPRISES INC 5.3%

Value $511M (+47.1%) Shares 2,191,975 (+40.4%) Est. Cost $235.15 Unrealized +6.8%

TECH BIO-TECHNE CORP 2.4%

Value $233M (+89.6%) Shares 4,456,017 (+113.3%) Est. Cost $60.22 Unrealized +6.4%

VSEC VSE CORP 2.7%

Value $259M (+70.5%) Shares 1,404,771 (+59.8%) Est. Cost $137.91 Unrealized +50.8%

CLH CLEAN HARBORS INC 3.1%

Value $301M (+54.0%) Shares 1,050,973 (+25.9%) Est. Cost $240.14 Unrealized +9.6%

ULS UL SOLUTIONS INC 2.9%

Value $282M (+39.6%) Shares 3,291,516 (+28.4%) Est. Cost $79.30 Unrealized -4.4%

CVNA CARVANA CO 3.2%

Value $313M (-19.8%) Shares 995,741 (+7.6%) Est. Cost $159.27 Unrealized +156.5%

RKT ROCKET COS INC 2.8%

Value $275M (-18.7%) Shares 19,305,725 (+10.5%) Est. Cost $17.84 Unrealized +12.9%

MDLN MEDLINE INC 3.3%

Value $323M (+11.6%) Shares 7,265,853 (+5.3%) Est. Cost $42.36 Unrealized +5.9%

AFRM AFFIRM HLDGS INC 2.7%

Value $259M (-5.5%) Shares 5,649,434 (+53.5%) Est. Cost $52.86 Unrealized +22.4%

MELI MERCADOLIBRE INC 6.2%

Value $607M (-2.2%) Shares 350,845 (+13.9%) Est. Cost $2160.97 Unrealized -4.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
Q	QNITY ELECTRONICS INC	5,088,108 (+81.7%)	$587M (+156.7%)	6.0%	$92.24	+9.7%	COMMON STOCK	74743L100
IWM	ISHARES TR	1,027,614 (+961.8%)	$255M (+969.8%)	2.6%	$247.83	—	RUSSELL 2000 ETF	464287655
DASH	DOORDASH INC	4,276,006 (+19.5%)	$642M (-20.8%)	6.6%	$218.41	-9.9%	CL A	25809K105
FERG	FERGUSON ENTERPRISES INC	2,191,975 (+40.4%)	$511M (+47.1%)	5.3%	$235.15	+6.8%	COMMON STOCK NEW	31488V107
TECH	BIO-TECHNE CORP	4,456,017 (+113.3%)	$233M (+89.6%)	2.4%	$60.22	+6.4%	COM	09073M104
VSEC	VSE CORP	1,404,771 (+59.8%)	$259M (+70.5%)	2.7%	$137.91	+50.8%	COM	918284100
CLH	CLEAN HARBORS INC	1,050,973 (+25.9%)	$301M (+54.0%)	3.1%	$240.14	+9.6%	COM	184496107
ULS	UL SOLUTIONS INC	3,291,516 (+28.4%)	$282M (+39.6%)	2.9%	$79.30	-4.4%	CLASS A COM SHS	903731107
CVNA	CARVANA CO	995,741 (+7.6%)	$313M (-19.8%)	3.2%	$159.27	+156.5%	CL A	146869102
RKT	ROCKET COS INC	19,305,725 (+10.5%)	$275M (-18.7%)	2.8%	$17.84	+12.9%	COM CL A	77311W101
MDLN	MEDLINE INC	7,265,853 (+5.3%)	$323M (+11.6%)	3.3%	$42.36	+5.9%	COM CL A	58507V107
AFRM	AFFIRM HLDGS INC	5,649,434 (+53.5%)	$259M (-5.5%)	2.7%	$52.86	+22.4%	COM CL A	00827B106
MELI	MERCADOLIBRE INC	350,845 (+13.9%)	$607M (-2.2%)	6.2%	$2160.97	-4.4%	COM	58733R102

Exited Positions (11)

VEEV VEEVA SYS INC 2.2%

Value $212M Shares 951,896 Est. Cost $255.48 Unrealized -20.2%

DSGX DESCARTES SYS GROUP INC 1.5%

Value $150M Shares 1,710,202 Est. Cost $89.38 Unrealized -15.4%

SRAD SPORTRADAR GROUP AG 1.5%

Value $142M Shares 5,956,331 Est. Cost $23.77 Unrealized —

TWLO TWILIO INC 1.4%

Value $137M Shares 962,089 Est. Cost $123.87 Unrealized -1.6%

APP APPLOVIN CORP 1.1%

Value $110M Shares 163,405 Est. Cost $344.61 Unrealized +47.2%

BKNG BOOKING HOLDINGS INC 1.0%

Value $97.86M Shares 18,274 Est. Cost $3300.93 Unrealized +44.9%

CBZ CBIZ INC 0.8%

Value $82.33M Shares 1,631,969 Est. Cost $64.50 Unrealized -37.3%

TOST TOAST INC 0.8%

Value $81.64M Shares 2,299,023 Est. Cost $20.29 Unrealized +52.8%

FSV FIRSTSERVICE CORP NEW 0.7%

Value $67.9M Shares 436,598 Est. Cost $120.35 Unrealized +30.9%

FIG FIGMA INC 0.7%

Value $64.55M Shares 1,727,263 Est. Cost $68.66 Unrealized -58.6%

DUOL DUOLINGO INC 0.2%

Value $20.92M Shares 119,181 Est. Cost $117.36 Unrealized +17.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VEEV	VEEVA SYS INC	951,896	$212M	2.2%	$255.48	-20.2%	—	922475108
DSGX	DESCARTES SYS GROUP INC	1,710,202	$150M	1.5%	$89.38	-15.4%	—	249906108
SRAD	SPORTRADAR GROUP AG	5,956,331	$142M	1.5%	$23.77	—	—	H8088L103
TWLO	TWILIO INC	962,089	$137M	1.4%	$123.87	-1.6%	—	90138F102
APP	APPLOVIN CORP	163,405	$110M	1.1%	$344.61	+47.2%	—	03831W108
BKNG	BOOKING HOLDINGS INC	18,274	$97.86M	1.0%	$3300.93	+44.9%	—	09857L108
CBZ	CBIZ INC	1,631,969	$82.33M	0.8%	$64.50	-37.3%	—	124805102
TOST	TOAST INC	2,299,023	$81.64M	0.8%	$20.29	+52.8%	—	888787108
FSV	FIRSTSERVICE CORP NEW	436,598	$67.9M	0.7%	$120.35	+30.9%	—	33767E202
FIG	FIGMA INC	1,727,263	$64.55M	0.7%	$68.66	-58.6%	—	316841105
DUOL	DUOLINGO INC	119,181	$20.92M	0.2%	$117.36	+17.5%	—	26603R106

Decreased Positions (12)

CIGI COLLIERS INTL GROUP INC 0.9%

Value $88.59M (-82.1%) Shares 828,839 (-75.4%) Est. Cost $117.51 Unrealized +14.3%

CPNG COUPANG INC 2.5%

Value $243M (-57.9%) Shares 12,866,806 (-47.4%) Est. Cost $20.73 Unrealized -4.2%

SHOP SHOPIFY INC 1.2%

Value $115M (-65.0%) Shares 971,814 (-52.4%) Est. Cost $84.62 Unrealized +61.3%

AYI ACUITY INC 1.0%

Value $99.68M (-66.0%) Shares 355,729 (-56.4%) Est. Cost $286.18 Unrealized +12.4%

RBC RBC BEARINGS INC 12.7%

Value $1.236B (+17.5%) Shares 2,275,636 (-3.0%) Est. Cost $207.31 Unrealized +149.7%

FOUR SHIFT4 PMTS INC 2.8%

Value $270M (-35.2%) Shares 6,165,793 (-6.7%) Est. Cost $65.53 Unrealized -7.2%

RBLX ROBLOX CORP 0.4%

Value $36.56M (-61.2%) Shares 646,429 (-44.4%) Est. Cost $57.23 Unrealized +25.4%

XPO XPO INC 5.9%

Value $571M (+6.4%) Shares 2,935,934 (-25.7%) Est. Cost $123.15 Unrealized +38.3%

WRBY WARBY PARKER INC 1.4%

Value $135M (-15.4%) Shares 6,396,513 (-12.5%) Est. Cost $29.49 Unrealized -14.5%

APG API GROUP CORP 6.2%

Value $599M (+4.2%) Shares 14,775,236 (-1.6%) Est. Cost $27.83 Unrealized +53.9%

YOU CLEAR SECURE INC 1.5%

Value $144M (+18.5%) Shares 2,971,595 (-14.2%) Est. Cost $24.85 Unrealized +39.4%

AUR AURORA INNOVATION INC 0.1%

Value $6.122M (-76.4%) Shares 1,486,036 (-78.0%) Est. Cost $4.28 Unrealized +4.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CIGI	COLLIERS INTL GROUP INC	828,839 (-75.4%)	$88.59M (-82.1%)	0.9%	$117.51	+14.3%	SUB VTG SHS	194693107
CPNG	COUPANG INC	12,866,806 (-47.4%)	$243M (-57.9%)	2.5%	$20.73	-4.2%	CL A	22266T109
SHOP	SHOPIFY INC	971,814 (-52.4%)	$115M (-65.0%)	1.2%	$84.62	+61.3%	CL A SUB VTG SHS	82509L107
AYI	ACUITY INC	355,729 (-56.4%)	$99.68M (-66.0%)	1.0%	$286.18	+12.4%	COM	00508Y102
RBC	RBC BEARINGS INC	2,275,636 (-3.0%)	$1.236B (+17.5%)	12.7%	$207.31	+149.7%	COM	75524B104
FOUR	SHIFT4 PMTS INC	6,165,793 (-6.7%)	$270M (-35.2%)	2.8%	$65.53	-7.2%	CL A	82452J109
RBLX	ROBLOX CORP	646,429 (-44.4%)	$36.56M (-61.2%)	0.4%	$57.23	+25.4%	CL A	771049103
XPO	XPO INC	2,935,934 (-25.7%)	$571M (+6.4%)	5.9%	$123.15	+38.3%	COM	983793100
WRBY	WARBY PARKER INC	6,396,513 (-12.5%)	$135M (-15.4%)	1.4%	$29.49	-14.5%	CL A COM	93403J106
APG	API GROUP CORP	14,775,236 (-1.6%)	$599M (+4.2%)	6.2%	$27.83	+53.9%	COM STK	00187Y100
YOU	CLEAR SECURE INC	2,971,595 (-14.2%)	$144M (+18.5%)	1.5%	$24.85	+39.4%	COM CL A	18467V109
AUR	AURORA INNOVATION INC	1,486,036 (-78.0%)	$6.122M (-76.4%)	0.1%	$4.28	+4.7%	COM CL A	051774107

Unchanged Positions (4)

GSHD GOOSEHEAD INS INC 0.7%

Value $66.68M Shares 1,562,969 Est. Cost $95.65 Unrealized -35.2%

OPCH OPTION CARE HEALTH INC 2.5%

Value $242M Shares 8,991,254 Est. Cost $31.47 Unrealized +9.3%

PRVA PRIVIA HEALTH GROUP INC 2.6%

Value $249M Shares 12,087,843 Est. Cost $24.83 Unrealized -8.1%

ANDG ANDERSEN GROUP INC 0.5%

Value $45.44M Shares 1,670,485 Est. Cost $25.14 Unrealized -11.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GSHD	GOOSEHEAD INS INC	1,562,969	$66.68M	0.7%	$95.65	-35.2%	COM CL A	38267D109
OPCH	OPTION CARE HEALTH INC	8,991,254	$242M	2.5%	$31.47	+9.3%	COM NEW	68404L201
PRVA	PRIVIA HEALTH GROUP INC	12,087,843	$249M	2.6%	$24.83	-8.1%	COM	74276R102
ANDG	ANDERSEN GROUP INC	1,670,485	$45.44M	0.5%	$25.14	-11.7%	CL A	033853102