Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ROK	ROCKWELL AUTOMATION INC	6,267	$2.728M	3.4%	$435.33	$444.81	-2.1%	COM	773903109
GWW	GRAINGER W W INC	2,166	$2.698M	3.4%	$1245.76	$1319.50	-5.6%	COM	384802104
HD	HOME DEPOT INC	9,389	$2.671M	3.3%	$284.49	$328.29	-13.3%	COM	437076102
DOV	DOVER CORP	14,256	$2.667M	3.3%	$187.05	$201.67	-7.2%	COM	260003108
LII	LENNOX INTL INC	6,807	$2.417M	3.0%	$355.02	$440.31	-19.4%	COM	526107107
MMM	3M CO	12,484	$2.049M	2.6%	$164.15	$170.56	-3.8%	COM	88579Y101
IR	INGERSOLL RAND INC	23,064	$1.732M	2.2%	$75.11	$79.61	-5.6%	COM	45687V106
MAS	MASCO CORP	24,353	$1.641M	2.0%	$67.40	$73.88	-8.8%	COM	574599106
AYI	ACUITY INC	5,222	$1.618M	2.0%	$309.81	$332.82	-6.9%	COM	00508Y102
AIT	APPLIED INDL TECHNOLOGIES IN	3,311	$1.1M	1.4%	$332.29	$335.79	-1.0%	COM	03820C105
PPG	PPG INDS INC	6,693	$698K	0.9%	$104.33	$112.93	-7.6%	COM	693506107
ITT	ITT INC	2,392	$483K	0.6%	$201.82	$201.83	-0.0%	COM	45073V108

Increased Positions (14)

SWK STANLEY BLACK & DECKER INC 3.4%

Value $2.698M (+1358.2%) Shares 30,457 (+1449.2%) Share Price $88.59 Est. Cost/Share $93.01 Unrealized @ Report Date -4.8%

CCK CROWN HLDGS INC 2.4%

Value $1.936M (+54019.1%) Shares 18,370 (+57306.3%) Share Price $105.41 Est. Cost/Share $114.94 Unrealized @ Report Date -8.3%

VMC VULCAN MATLS CO 1.2%

Value $945K (+1586.8%) Shares 3,865 (+1934.2%) Share Price $244.63 Est. Cost/Share $273.08 Unrealized @ Report Date -10.4%

RBC RBC BEARINGS INC 3.4%

Value $2.69M (+47.6%) Shares 5,388 (+90.5%) Share Price $499.23 Est. Cost/Share $534.85 Unrealized @ Report Date -6.7%

BALL BALL CORP 1.2%

Value $927K (+660.0%) Shares 16,547 (+746.4%) Share Price $56.03 Est. Cost/Share $61.59 Unrealized @ Report Date -9.0%

OTIS OTIS WORLDWIDE CORP 3.3%

Value $2.65M (+37.1%) Shares 41,205 (+52.7%) Share Price $64.32 Est. Cost/Share $81.71 Unrealized @ Report Date -21.3%

APD AIR PRODUCTS AND CHEMICALS I 3.4%

Value $2.695M (+30.2%) Shares 9,686 (+37.2%) Share Price $278.23 Est. Cost/Share $292.63 Unrealized @ Report Date -4.9%

JBTM JBT MAREL CORPORATION 1.4%

Value $1.091M (+79.8%) Shares 10,335 (+146.9%) Share Price $105.59 Est. Cost/Share $127.04 Unrealized @ Report Date -16.9%

BCC BOISE CASCADE CO DEL 0.7%

Value $541K (+631.4%) Shares 7,297 (+665.7%) Share Price $74.15 Est. Cost/Share $77.73 Unrealized @ Report Date -4.6%

CAT CATERPILLAR INC 0.6%

Value $482K (+2920.0%) Shares 595 (+3866.7%) Share Price $810.79 Est. Cost/Share $844.19 Unrealized @ Report Date -4.0%

WSO WATSCO INC 1.9%

Value $1.501M (+9.9%) Shares 4,958 (+51.3%) Share Price $302.69 Est. Cost/Share $379.00 Unrealized @ Report Date -20.1%

CHD CHURCH & DWIGHT CO INC 2.4%

Value $1.938M (+6.1%) Shares 20,564 (+9.1%) Share Price $94.22 Est. Cost/Share $95.78 Unrealized @ Report Date -1.6%

CMI CUMMINS INC 0.6%

Value $487K (-15.7%) Shares 943 (+16.4%) Share Price $516.57 Est. Cost/Share $570.45 Unrealized @ Report Date -9.4%

KMT KENNAMETAL INC 0.2%

Value $146K (+23.7%) Shares 4,741 (+41.0%) Share Price $30.74 Est. Cost/Share $35.09 Unrealized @ Report Date -12.4%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SWK	STANLEY BLACK & DECKER INC	30,457 (+1449.2%)	$2.698M (+1358.2%)	3.4%	$88.59	$93.01	-4.8%	COM	854502101
CCK	CROWN HLDGS INC	18,370 (+57306.3%)	$1.936M (+54019.1%)	2.4%	$105.41	$114.94	-8.3%	COM	228368106
VMC	VULCAN MATLS CO	3,865 (+1934.2%)	$945K (+1586.8%)	1.2%	$244.63	$273.08	-10.4%	COM	929160109
RBC	RBC BEARINGS INC	5,388 (+90.5%)	$2.69M (+47.6%)	3.4%	$499.23	$534.85	-6.7%	COM	75524B104
BALL	BALL CORP	16,547 (+746.4%)	$927K (+660.0%)	1.2%	$56.03	$61.59	-9.0%	COM	058498106
OTIS	OTIS WORLDWIDE CORP	41,205 (+52.7%)	$2.65M (+37.1%)	3.3%	$64.32	$81.71	-21.3%	COM	68902V107
APD	AIR PRODUCTS AND CHEMICALS I	9,686 (+37.2%)	$2.695M (+30.2%)	3.4%	$278.23	$292.63	-4.9%	COM	009158106
JBTM	JBT MAREL CORPORATION	10,335 (+146.9%)	$1.091M (+79.8%)	1.4%	$105.59	$127.04	-16.9%	COM	477839104
BCC	BOISE CASCADE CO DEL	7,297 (+665.7%)	$541K (+631.4%)	0.7%	$74.15	$77.73	-4.6%	COM	09739D100
CAT	CATERPILLAR INC	595 (+3866.7%)	$482K (+2920.0%)	0.6%	$810.79	$844.19	-4.0%	COM	149123101
WSO	WATSCO INC	4,958 (+51.3%)	$1.501M (+9.9%)	1.9%	$302.69	$379.00	-20.1%	COM	942622200
CHD	CHURCH & DWIGHT CO INC	20,564 (+9.1%)	$1.938M (+6.1%)	2.4%	$94.22	$95.78	-1.6%	COM	171340102
CMI	CUMMINS INC	943 (+16.4%)	$487K (-15.7%)	0.6%	$516.57	$570.45	-9.4%	COM	231021106
KMT	KENNAMETAL INC	4,741 (+41.0%)	$146K (+23.7%)	0.2%	$30.74	$35.09	-12.4%	COM	489170100

Exited Positions (15)

PH PARKER-HANNIFIN CORP 2.5%

Value $1.997M Shares 2,042 Share Price $978.12 * Est. Cost/Share $944.32 Unrealized @ Report Date +1.2%

FAST FASTENAL CO 2.5%

Value $1.994M Shares 41,526 Share Price $48.03 * Est. Cost/Share $45.39 Unrealized @ Report Date +9.1%

ITW ILLINOIS TOOL WKS INC 2.5%

Value $1.99M Shares 7,359 Share Price $270.47 * Est. Cost/Share $272.11 Unrealized @ Report Date -5.4%

SHW SHERWIN WILLIAMS CO 2.5%

Value $1.968M Shares 5,717 Share Price $344.32 * Est. Cost/Share $338.57 Unrealized @ Report Date -4.5%

PCAR PACCAR INC 2.4%

Value $1.952M Shares 16,247 Share Price $120.12 * Est. Cost/Share $118.01 Unrealized @ Report Date -6.9%

CRH CRH PLC 2.4%

Value $1.935M Shares 18,080 Share Price $107.00 * Est. Cost/Share $117.43 Unrealized @ Report Date -29.5%

BLDR BUILDERS FIRSTSOURCE INC 1.7%

Value $1.388M Shares 15,507 Share Price $89.48 * Est. Cost/Share $79.86 Unrealized @ Report Date -28.6%

SNA SNAP ON INC 1.6%

Value $1.305M Shares 3,242 Share Price $402.40 * Est. Cost/Share $368.50 Unrealized @ Report Date -1.4%

AOS SMITH A O CORP 1.4%

Value $1.143M Shares 18,225 Share Price $62.72 * Est. Cost/Share $69.46 Unrealized @ Report Date -18.8%

AGCO AGCO CORP 1.2%

Value $931K Shares 7,778 Share Price $119.70 * Est. Cost/Share $116.21 Unrealized @ Report Date -1.7%

AXTA AXALTA COATING SYS LTD 1.1%

Value $904K Shares 26,416 Share Price $34.22 * Est. Cost/Share $30.08 Unrealized @ Report Date +6.9%

APH AMPHENOL CORP NEW 0.9%

Value $730K Shares 4,143 Share Price $176.32 * Est. Cost/Share $105.43 Unrealized @ Report Date -20.0%

LECO LINCOLN ELEC HLDGS INC 0.8%

Value $677K Shares 2,550 Share Price $265.51 Est. Cost/Share $261.67 Unrealized @ Report Date +1.1%

ST SENSATA TECHNOLOGIES HLDG PL 0.7%

Value $580K Shares 12,157 Share Price $47.74 * Est. Cost/Share $31.17 Unrealized @ Report Date +33.3%

LOW LOWES COS INC 0.4%

Value $334K Shares 1,517 Share Price $220.49 * Est. Cost/Share $227.10 Unrealized @ Report Date -18.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
PH	PARKER-HANNIFIN CORP	2,042	$1.997M	2.5%	$978.12 *	$944.32	+1.2%	—	701094104
FAST	FASTENAL CO	41,526	$1.994M	2.5%	$48.03 *	$45.39	+9.1%	—	311900104
ITW	ILLINOIS TOOL WKS INC	7,359	$1.99M	2.5%	$270.47 *	$272.11	-5.4%	—	452308109
SHW	SHERWIN WILLIAMS CO	5,717	$1.968M	2.5%	$344.32 *	$338.57	-4.5%	—	824348106
PCAR	PACCAR INC	16,247	$1.952M	2.4%	$120.12 *	$118.01	-6.9%	—	693718108
CRH	CRH PLC	18,080	$1.935M	2.4%	$107.00 *	$117.43	-29.5%	—	G25508105
BLDR	BUILDERS FIRSTSOURCE INC	15,507	$1.388M	1.7%	$89.48 *	$79.86	-28.6%	—	12008R107
SNA	SNAP ON INC	3,242	$1.305M	1.6%	$402.40 *	$368.50	-1.4%	—	833034101
AOS	SMITH A O CORP	18,225	$1.143M	1.4%	$62.72 *	$69.46	-18.8%	—	831865209
AGCO	AGCO CORP	7,778	$931K	1.2%	$119.70 *	$116.21	-1.7%	—	001084102
AXTA	AXALTA COATING SYS LTD	26,416	$904K	1.1%	$34.22 *	$30.08	+6.9%	—	G0750C108
APH	AMPHENOL CORP NEW	4,143	$730K	0.9%	$176.32 *	$105.43	-20.0%	—	032095101
LECO	LINCOLN ELEC HLDGS INC	2,550	$677K	0.8%	$265.51	$261.67	+1.1%	—	533900106
ST	SENSATA TECHNOLOGIES HLDG PL	12,157	$580K	0.7%	$47.74 *	$31.17	+33.3%	—	G8060N102
LOW	LOWES COS INC	1,517	$334K	0.4%	$220.49 *	$227.10	-18.9%	—	548661107

Decreased Positions (7)

AMZN AMAZON COM INC 40.0%

Value $32.06M (-8.3%) Shares 128,695 (-12.3%) Share Price $249.15 Est. Cost/Share $197.89 Unrealized @ Report Date +25.9%

ETN EATON CORP PLC 0.2%

Value $141K (-90.6%) Shares 329 (-90.7%) Share Price $429.71 Est. Cost/Share $354.47 Unrealized @ Report Date +21.2%

NVT NVENT ELEC PLC 0.3%

Value $244K (-83.7%) Shares 1,521 (-82.8%) Share Price $160.37 Est. Cost/Share $155.92 Unrealized @ Report Date +2.9%

JCI JOHNSON CONTROLS INTERNATION 0.6%

Value $476K (-68.3%) Shares 3,200 (-68.9%) Share Price $148.65 Est. Cost/Share $141.22 Unrealized @ Report Date +5.3%

TT TRANE TECHNOLOGIES PLC 0.6%

Value $488K (-67.0%) Shares 1,079 (-64.1%) Share Price $451.98 Est. Cost/Share $424.47 Unrealized @ Report Date +6.5%

EME EMCOR GROUP INC 0.5%

Value $389K (-30.2%) Shares 516 (-23.2%) Share Price $754.49 Est. Cost/Share $845.95 Unrealized @ Report Date -10.8%

ALLE ALLEGION PLC 2.3%

Value $1.851M (+6.4%) Shares 12,038 (-2.7%) Share Price $153.77 Est. Cost/Share $161.32 Unrealized @ Report Date -4.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AMZN	AMAZON COM INC	128,695 (-12.3%)	$32.06M (-8.3%)	40.0%	$249.15	$197.89	+25.9%	COM	023135106
ETN	EATON CORP PLC	329 (-90.7%)	$141K (-90.6%)	0.2%	$429.71	$354.47	+21.2%	SHS	G29183103
NVT	NVENT ELEC PLC	1,521 (-82.8%)	$244K (-83.7%)	0.3%	$160.37	$155.92	+2.9%	SHS	G6700G107
JCI	JOHNSON CONTROLS INTERNATION	3,200 (-68.9%)	$476K (-68.3%)	0.6%	$148.65	$141.22	+5.3%	SHS	G51502105
TT	TRANE TECHNOLOGIES PLC	1,079 (-64.1%)	$488K (-67.0%)	0.6%	$451.98	$424.47	+6.5%	SHS	G8994E103
EME	EMCOR GROUP INC	516 (-23.2%)	$389K (-30.2%)	0.5%	$754.49	$845.95	-10.8%	COM	29084Q100
ALLE	ALLEGION PLC	12,038 (-2.7%)	$1.851M (+6.4%)	2.3%	$153.77	$161.32	-4.7%	ORD SHS	G0176J109

Unchanged Positions (1)

AVY AVERY DENNISON CORP 1.7%

Value $1.356M Shares 7,946 Share Price $170.67 Est. Cost/Share $162.82 Unrealized @ Report Date +4.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AVY	AVERY DENNISON CORP	7,946	$1.356M	1.7%	$170.67	$162.82	+4.8%	COM	053611109