CARDEROCK CAPITAL MANAGEMENT INC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IDXX	IDEXX LABS INC	16,775	$11,349	2.7%	$681.02	0.0%	COM	45168D104
PWR	QUANTA SVCS INC	23,914	$10,093	2.4%	$439.27	0.0%	COM	74762E102
STE	STERIS PLC	37,085	$9,402	2.3%	$251.13	0.0%	SHS USD	G8473T100
TJX	TJX COS INC NEW	11,853	$1,821	0.4%	$147.70	0.0%	COM	872540109
FSS	FEDERAL SIGNAL CORP	15,586	$1,692	0.4%	$114.40	0.0%	COM	313855108
WMT	WALMART INC	14,739	$1,642	0.4%	$107.20	0.0%	COM	931142103
—	DNP SELECT INCOME FD INC	23,604	$236	0.1%	$9.99	—	COM	23325P104
RTX	RTX CORPORATION	1,125	$206	0.0%	$173.32	0.0%	COM	75513E101

Increased Positions (20)

GOOGL ALPHABET INC 4.4%

Value ($000) $18,358 (+45.4%) Shares 58,651 (+12.9%) Est. Cost $131.86 Unrealized +116.6%

TMO THERMO FISHER SCIENTIFIC INC 3.0%

Value ($000) $12,178 (+63.5%) Shares 21,017 (+36.9%) Est. Cost $326.36 Unrealized +73.2%

LLY ELI LILLY & CO 3.2%

Value ($000) $13,094 (+53.7%) Shares 12,184 (+9.2%) Est. Cost $814.81 Unrealized +17.3%

MNST MONSTER BEVERAGE CORP NEW 2.1%

Value ($000) $8,742 (+60.8%) Shares 114,024 (+41.2%) Est. Cost $60.10 Unrealized +19.2%

MPWR MONOLITHIC PWR SYS INC 2.5%

Value ($000) $10,395 (+32.5%) Shares 11,469 (+34.6%) Est. Cost $783.95 Unrealized +22.6%

AAPL APPLE INC 3.4%

Value ($000) $13,956 (+20.4%) Shares 51,335 (+12.7%) Est. Cost $110.32 Unrealized +143.2%

NVDA NVIDIA CORPORATION 2.1%

Value ($000) $8,814 (+35.6%) Shares 47,258 (+35.7%) Est. Cost $147.19 Unrealized +26.5%

SPGI S&P GLOBAL INC 2.9%

Value ($000) $12,146 (+23.1%) Shares 23,241 (+14.6%) Est. Cost $368.57 Unrealized +34.1%

MA MASTERCARD INCORPORATED 3.1%

Value ($000) $12,812 (+15.0%) Shares 22,443 (+14.6%) Est. Cost $221.98 Unrealized +151.8%

DHR DANAHER CORPORATION 1.4%

Value ($000) $5,601 (+33.9%) Shares 24,465 (+15.9%) Est. Cost $101.59 Unrealized +116.1%

MCO MOODYS CORP 2.2%

Value ($000) $8,975 (+9.3%) Shares 17,568 (+2.0%) Est. Cost $277.57 Unrealized +75.6%

ADP AUTOMATIC DATA PROCESSING IN 2.1%

Value ($000) $8,619 (-8.1%) Shares 33,507 (+4.9%) Est. Cost $142.32 Unrealized +86.1%

COST COSTCO WHSL CORP NEW 2.0%

Value ($000) $8,182 (-5.8%) Shares 9,488 (+1.2%) Est. Cost $238.78 Unrealized +279.3%

MSFT MICROSOFT CORP 3.1%

Value ($000) $12,704 (-1.8%) Shares 26,269 (+5.2%) Est. Cost $163.85 Unrealized +205.5%

LIN LINDE PLC 1.0%

Value ($000) $4,252 (+5.5%) Shares 9,971 (+17.5%) Est. Cost $454.74 Unrealized -6.0%

AON AON PLC 1.9%

Value ($000) $7,918 (+2.6%) Shares 22,438 (+3.7%) Est. Cost $266.47 Unrealized +31.0%

MSI MOTOROLA SOLUTIONS INC 1.1%

Value ($000) $4,373 (-2.2%) Shares 11,408 (+16.7%) Est. Cost $430.10 Unrealized -6.8%

LDOS LEIDOS HOLDINGS INC 1.6%

Value ($000) $6,404 (-1.1%) Shares 35,498 (+3.6%) Est. Cost $146.69 Unrealized +28.9%

FTNT FORTINET INC 1.8%

Value ($000) $7,474 (+0.4%) Shares 94,124 (+6.3%) Est. Cost $59.83 Unrealized +38.6%

ITW ILLINOIS TOOL WKS INC 1.4%

Value ($000) $5,822 (-0.4%) Shares 23,638 (+5.5%) Est. Cost $165.30 Unrealized +49.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	58,651 (+12.9%)	$18,358 (+45.4%)	4.4%	$131.86	+116.6%	CAP STK CL A	02079K305
TMO	THERMO FISHER SCIENTIFIC INC	21,017 (+36.9%)	$12,178 (+63.5%)	3.0%	$326.36	+73.2%	COM	883556102
LLY	ELI LILLY & CO	12,184 (+9.2%)	$13,094 (+53.7%)	3.2%	$814.81	+17.3%	COM	532457108
MNST	MONSTER BEVERAGE CORP NEW	114,024 (+41.2%)	$8,742 (+60.8%)	2.1%	$60.10	+19.2%	COM	61174X109
MPWR	MONOLITHIC PWR SYS INC	11,469 (+34.6%)	$10,395 (+32.5%)	2.5%	$783.95	+22.6%	COM	609839105
AAPL	APPLE INC	51,335 (+12.7%)	$13,956 (+20.4%)	3.4%	$110.32	+143.2%	COM	037833100
NVDA	NVIDIA CORPORATION	47,258 (+35.7%)	$8,814 (+35.6%)	2.1%	$147.19	+26.5%	COM	67066G104
SPGI	S&P GLOBAL INC	23,241 (+14.6%)	$12,146 (+23.1%)	2.9%	$368.57	+34.1%	COM	78409V104
MA	MASTERCARD INCORPORATED	22,443 (+14.6%)	$12,812 (+15.0%)	3.1%	$221.98	+151.8%	CL A	57636Q104
DHR	DANAHER CORPORATION	24,465 (+15.9%)	$5,601 (+33.9%)	1.4%	$101.59	+116.1%	COM	235851102
MCO	MOODYS CORP	17,568 (+2.0%)	$8,975 (+9.3%)	2.2%	$277.57	+75.6%	COM	615369105
ADP	AUTOMATIC DATA PROCESSING IN	33,507 (+4.9%)	$8,619 (-8.1%)	2.1%	$142.32	+86.1%	COM	053015103
COST	COSTCO WHSL CORP NEW	9,488 (+1.2%)	$8,182 (-5.8%)	2.0%	$238.78	+279.3%	COM	22160K105
MSFT	MICROSOFT CORP	26,269 (+5.2%)	$12,704 (-1.8%)	3.1%	$163.85	+205.5%	COM	594918104
LIN	LINDE PLC	9,971 (+17.5%)	$4,252 (+5.5%)	1.0%	$454.74	-6.0%	SHS	G54950103
AON	AON PLC	22,438 (+3.7%)	$7,918 (+2.6%)	1.9%	$266.47	+31.0%	SHS CL A	G0403H108
MSI	MOTOROLA SOLUTIONS INC	11,408 (+16.7%)	$4,373 (-2.2%)	1.1%	$430.10	-6.8%	COM NEW	620076307
LDOS	LEIDOS HOLDINGS INC	35,498 (+3.6%)	$6,404 (-1.1%)	1.6%	$146.69	+28.9%	COM	525327102
FTNT	FORTINET INC	94,124 (+6.3%)	$7,474 (+0.4%)	1.8%	$59.83	+38.6%	COM	34959E109
ITW	ILLINOIS TOOL WKS INC	23,638 (+5.5%)	$5,822 (-0.4%)	1.4%	$165.30	+49.8%	COM	452308109

Exited Positions (11)

— Idexx Labs 2.6%

Value ($000) $10,851 Shares 16,984 Est. Cost $307.54 Unrealized —

— Quanta Svcs 2.4%

Value ($000) $10,111 Shares 24,399 Est. Cost $125.79 Unrealized —

— Steris PLC 1.8%

Value ($000) $7,359 Shares 29,741 Est. Cost $223.54 Unrealized —

LMT Lockheed Martin Corp 1.0%

Value ($000) $4,247 Shares 8,508 Est. Cost $481.53 Unrealized -1.1%

VFIAX Vanguard 500 Index Fd 0.7%

Value ($000) $2,687 Shares 4,352 Est. Cost $461.94 Unrealized —

NPRTX Neuberger Berman Partners 0.1%

Value ($000) $571 Shares 11,195 Est. Cost $47.81 Unrealized —

NBGNX Neuberger Berman Genesis Fd. 0.1%

Value ($000) $477 Shares 7,559 Est. Cost $68.34 Unrealized —

AJG Arthur J. Gallagher & Co 0.1%

Value ($000) $325 Shares 1,050 Est. Cost $236.41 Unrealized +11.8%

— Duff & Phelps Util Income 0.1%

Value ($000) $236 Shares 23,604 Est. Cost $9.55 Unrealized —

DFEOX DFA US Core Equity 1 0.1%

Value ($000) $232 Shares 4,781 Est. Cost $45.17 Unrealized —

MTD Mettler Toledo Intl 0.1%

Value ($000) $215 Shares 175 Est. Cost $1117.50 Unrealized +25.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Idexx Labs	16,984	$10,851	2.6%	$307.54	—	—	45168d104
—	Quanta Svcs	24,399	$10,111	2.4%	$125.79	—	—	74762e102
—	Steris PLC	29,741	$7,359	1.8%	$223.54	—	—	g8473t100
LMT	Lockheed Martin Corp	8,508	$4,247	1.0%	$481.53	-1.1%	—	539830109
VFIAX	Vanguard 500 Index Fd	4,352	$2,687	0.7%	$461.94	—	—	922908710
NPRTX	Neuberger Berman Partners	11,195	$571	0.1%	$47.81	—	—	641224407
NBGNX	Neuberger Berman Genesis Fd.	7,559	$477	0.1%	$68.34	—	—	641224100
AJG	Arthur J. Gallagher & Co	1,050	$325	0.1%	$236.41	+11.8%	—	363576109
—	Duff & Phelps Util Income	23,604	$236	0.1%	$9.55	—	—	264324104
DFEOX	DFA US Core Equity 1	4,781	$232	0.1%	$45.17	—	—	233203413
MTD	Mettler Toledo Intl	175	$215	0.1%	$1117.50	+25.0%	—	592688105

Decreased Positions (20)

FISV FISERV INC 0.1%

Value ($000) $405 (-92.4%) Shares 6,024 (-85.4%) Est. Cost $86.64 Unrealized -3.2%

WSO WATSCO INC 0.2%

Value ($000) $951 (-83.8%) Shares 2,822 (-80.5%) Est. Cost $462.82 Unrealized -22.8%

ACN ACCENTURE PLC IRELAND 0.3%

Value ($000) $1,234 (-75.3%) Shares 4,600 (-77.3%) Est. Cost $139.02 Unrealized +82.7%

CMG CHIPOTLE MEXICAN GRILL INC 0.1%

Value ($000) $229 (-93.6%) Shares 6,194 (-93.2%) Est. Cost $61.00 Unrealized -40.7%

ROP ROPER TECHNOLOGIES INC 0.7%

Value ($000) $2,970 (-51.9%) Shares 6,673 (-46.1%) Est. Cost $337.94 Unrealized +36.8%

CHD CHURCH & DWIGHT CO INC 0.4%

Value ($000) $1,460 (-64.2%) Shares 17,418 (-62.6%) Est. Cost $53.84 Unrealized +58.4%

WCN WASTE CONNECTIONS INC 1.4%

Value ($000) $5,824 (-28.7%) Shares 33,212 (-28.5%) Est. Cost $123.57 Unrealized +39.8%

APD AIR PRODS & CHEMS INC 1.3%

Value ($000) $5,186 (-28.3%) Shares 20,994 (-20.8%) Est. Cost $195.99 Unrealized +28.4%

LRCX LAM RESEARCH CORP 4.4%

Value ($000) $18,134 (+11.6%) Shares 105,936 (-12.7%) Est. Cost $77.11 Unrealized +101.5%

ORLY OREILLY AUTOMOTIVE INC 2.3%

Value ($000) $9,387 (-16.2%) Shares 102,914 (-1.0%) Est. Cost $86.48 Unrealized +13.0%

PH PARKER-HANNIFIN CORP 2.4%

Value ($000) $9,894 (+12.9%) Shares 11,256 (-2.6%) Est. Cost $352.63 Unrealized +131.9%

BMI BADGER METER INC 0.6%

Value ($000) $2,443 (-26.0%) Shares 14,010 (-24.2%) Est. Cost $213.10 Unrealized -15.6%

SHW SHERWIN WILLIAMS CO 1.9%

Value ($000) $7,778 (-7.4%) Shares 24,004 (-1.1%) Est. Cost $230.96 Unrealized +44.7%

ACGL ARCH CAP GROUP LTD 1.6%

Value ($000) $6,703 (-7.4%) Shares 69,879 (-12.4%) Est. Cost $72.47 Unrealized +26.2%

SYK STRYKER CORPORATION 1.7%

Value ($000) $6,837 (-6.2%) Shares 19,452 (-1.4%) Est. Cost $338.75 Unrealized +7.3%

TROW PRICE T ROWE GROUP INC 0.1%

Value ($000) $353 (-49.6%) Shares 3,450 (-49.5%) Est. Cost $61.43 Unrealized +66.3%

APH AMPHENOL CORP NEW 4.1%

Value ($000) $16,727 (+0.9%) Shares 123,775 (-7.6%) Est. Cost $43.08 Unrealized +210.0%

ABT ABBOTT LABS 0.1%

Value ($000) $247 (-35.7%) Shares 1,975 (-31.3%) Est. Cost $68.93 Unrealized +84.7%

MAR MARRIOTT INTL INC NEW 0.2%

Value ($000) $665 (+10.1%) Shares 2,143 (-7.5%) Est. Cost $162.57 Unrealized +75.5%

JPM JPMORGAN CHASE & CO. 0.1%

Value ($000) $211 (+0.0%) Shares 654 (-2.1%) Est. Cost $257.07 Unrealized +20.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	FISERV INC	6,024 (-85.4%)	$405 (-92.4%)	0.1%	$86.64	-3.2%	COM	337738108
WSO	WATSCO INC	2,822 (-80.5%)	$951 (-83.8%)	0.2%	$462.82	-22.8%	COM	942622200
ACN	ACCENTURE PLC IRELAND	4,600 (-77.3%)	$1,234 (-75.3%)	0.3%	$139.02	+82.7%	SHS CLASS A	G1151C101
CMG	CHIPOTLE MEXICAN GRILL INC	6,194 (-93.2%)	$229 (-93.6%)	0.1%	$61.00	-40.7%	COM	169656105
ROP	ROPER TECHNOLOGIES INC	6,673 (-46.1%)	$2,970 (-51.9%)	0.7%	$337.94	+36.8%	COM	776696106
CHD	CHURCH & DWIGHT CO INC	17,418 (-62.6%)	$1,460 (-64.2%)	0.4%	$53.84	+58.4%	COM	171340102
WCN	WASTE CONNECTIONS INC	33,212 (-28.5%)	$5,824 (-28.7%)	1.4%	$123.57	+39.8%	COM	94106B101
APD	AIR PRODS & CHEMS INC	20,994 (-20.8%)	$5,186 (-28.3%)	1.3%	$195.99	+28.4%	COM	009158106
LRCX	LAM RESEARCH CORP	105,936 (-12.7%)	$18,134 (+11.6%)	4.4%	$77.11	+101.5%	COM NEW	512807306
ORLY	OREILLY AUTOMOTIVE INC	102,914 (-1.0%)	$9,387 (-16.2%)	2.3%	$86.48	+13.0%	COM	67103H107
PH	PARKER-HANNIFIN CORP	11,256 (-2.6%)	$9,894 (+12.9%)	2.4%	$352.63	+131.9%	COM	701094104
BMI	BADGER METER INC	14,010 (-24.2%)	$2,443 (-26.0%)	0.6%	$213.10	-15.6%	COM	056525108
SHW	SHERWIN WILLIAMS CO	24,004 (-1.1%)	$7,778 (-7.4%)	1.9%	$230.96	+44.7%	COM	824348106
ACGL	ARCH CAP GROUP LTD	69,879 (-12.4%)	$6,703 (-7.4%)	1.6%	$72.47	+26.2%	ORD	G0450A105
SYK	STRYKER CORPORATION	19,452 (-1.4%)	$6,837 (-6.2%)	1.7%	$338.75	+7.3%	COM	863667101
TROW	PRICE T ROWE GROUP INC	3,450 (-49.5%)	$353 (-49.6%)	0.1%	$61.43	+66.3%	COM	74144T108
APH	AMPHENOL CORP NEW	123,775 (-7.6%)	$16,727 (+0.9%)	4.1%	$43.08	+210.0%	CL A	032095101
ABT	ABBOTT LABS	1,975 (-31.3%)	$247 (-35.7%)	0.1%	$68.93	+84.7%	COM	002824100
MAR	MARRIOTT INTL INC NEW	2,143 (-7.5%)	$665 (+10.1%)	0.2%	$162.57	+75.5%	CL A	571903202
JPM	JPMORGAN CHASE & CO.	654 (-2.1%)	$211 (+0.0%)	0.1%	$257.07	+20.4%	COM	46625H100

Unchanged Positions (21)

ISRG INTUITIVE SURGICAL INC 2.5%

Value ($000) $10,333 Shares 18,244 Est. Cost $394.21 Unrealized +35.0%

HD HOME DEPOT INC 1.7%

Value ($000) $6,952 Shares 20,202 Est. Cost $155.22 Unrealized +134.9%

CDNS CADENCE DESIGN SYSTEM INC 2.1%

Value ($000) $8,490 Shares 27,161 Est. Cost $153.21 Unrealized +113.0%

FICO FAIR ISAAC CORP 2.1%

Value ($000) $8,861 Shares 5,241 Est. Cost $1296.03 Unrealized +32.8%

CTAS CINTAS CORP 2.1%

Value ($000) $8,643 Shares 45,958 Est. Cost $165.12 Unrealized +13.9%

AME AMETEK INC 2.2%

Value ($000) $8,990 Shares 43,789 Est. Cost $88.54 Unrealized +119.5%

GWW WW GRAINGER INC 1.5%

Value ($000) $6,053 Shares 5,999 Est. Cost $942.34 Unrealized +2.8%

INTU INTUIT 1.9%

Value ($000) $7,862 Shares 11,868 Est. Cost $296.50 Unrealized +122.8%

IR INGERSOLL RAND INC 1.2%

Value ($000) $4,980 Shares 62,858 Est. Cost $62.91 Unrealized +25.5%

HEI HEICO CORP NEW 2.9%

Value ($000) $12,074 Shares 37,313 Est. Cost $180.43 Unrealized +75.1%

XOM EXXON MOBIL CORP 0.3%

Value ($000) $1,277 Shares 10,608 Est. Cost $100.95 Unrealized +14.4%

AZO AUTOZONE INC 0.1%

Value ($000) $220 Shares 65 Est. Cost $3070.23 Unrealized +23.0%

PAYX PAYCHEX INC 0.1%

Value ($000) $331 Shares 2,950 Est. Cost $35.96 Unrealized +224.1%

DLR DIGITAL RLTY TR INC 0.1%

Value ($000) $248 Shares 1,600 Est. Cost $95.33 Unrealized +71.1%

JNJ JOHNSON & JOHNSON 0.1%

Value ($000) $274 Shares 1,325 Est. Cost $153.18 Unrealized +28.6%

HON HONEYWELL INTL INC 0.1%

Value ($000) $217 Shares 1,114 Est. Cost $122.41 Unrealized +59.3%

CVX CHEVRON CORP NEW 0.2%

Value ($000) $637 Shares 4,182 Est. Cost $80.52 Unrealized +88.0%

IYW ISHARES TR 0.1%

Value ($000) $574 Shares 2,875 Est. Cost $101.28 Unrealized —

CSX CSX CORP 0.1%

Value ($000) $207 Shares 5,700 Est. Cost $29.78 Unrealized +19.9%

DVY ISHARES TR 0.1%

Value ($000) $226 Shares 1,600 Est. Cost $117.22 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value ($000) $395 Shares 785 Est. Cost $310.17 Unrealized +60.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ISRG	INTUITIVE SURGICAL INC	18,244	$10,333	2.5%	$394.21	+35.0%	COM NEW	46120E602
HD	HOME DEPOT INC	20,202	$6,952	1.7%	$155.22	+134.9%	COM	437076102
CDNS	CADENCE DESIGN SYSTEM INC	27,161	$8,490	2.1%	$153.21	+113.0%	COM	127387108
FICO	FAIR ISAAC CORP	5,241	$8,861	2.1%	$1296.03	+32.8%	COM	303250104
CTAS	CINTAS CORP	45,958	$8,643	2.1%	$165.12	+13.9%	COM	172908105
AME	AMETEK INC	43,789	$8,990	2.2%	$88.54	+119.5%	COM	031100100
GWW	WW GRAINGER INC	5,999	$6,053	1.5%	$942.34	+2.8%	COM	384802104
INTU	INTUIT	11,868	$7,862	1.9%	$296.50	+122.8%	COM	461202103
IR	INGERSOLL RAND INC	62,858	$4,980	1.2%	$62.91	+25.5%	COM	45687V106
HEI	HEICO CORP NEW	37,313	$12,074	2.9%	$180.43	+75.1%	COM	422806109
XOM	EXXON MOBIL CORP	10,608	$1,277	0.3%	$100.95	+14.4%	COM	30231G102
AZO	AUTOZONE INC	65	$220	0.1%	$3070.23	+23.0%	COM	053332102
PAYX	PAYCHEX INC	2,950	$331	0.1%	$35.96	+224.1%	COM	704326107
DLR	DIGITAL RLTY TR INC	1,600	$248	0.1%	$95.33	+71.1%	COM	253868103
JNJ	JOHNSON & JOHNSON	1,325	$274	0.1%	$153.18	+28.6%	COM	478160104
HON	HONEYWELL INTL INC	1,114	$217	0.1%	$122.41	+59.3%	COM	438516106
CVX	CHEVRON CORP NEW	4,182	$637	0.2%	$80.52	+88.0%	COM	166764100
IYW	ISHARES TR	2,875	$574	0.1%	$101.28	—	U.S. TECH ETF	464287721
CSX	CSX CORP	5,700	$207	0.1%	$29.78	+19.9%	COM	126408103
DVY	ISHARES TR	1,600	$226	0.1%	$117.22	—	SELECT DIVID ETF	464287168
BRK/B	BERKSHIRE HATHAWAY INC DEL	785	$395	0.1%	$310.17	+60.4%	CL B NEW	084670702