Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QGEN	QIAGEN NV	851,611	$33.3M	2.5%	—	—	ORD SHARES	N72482156
WAT	WATERS CORP	60,706	$22.77M	1.7%	—	—	COM	941848103
TOL	TOLL BROTHERS INC	114,762	$18.91M	1.4%	—	—	COM	889478103
RPM	RPM INTL INC	167,229	$18.59M	1.4%	—	—	COM	749685103
MSA	MSA SAFETY INC	106,377	$18.57M	1.4%	—	—	COM	553498106
ISRG	INTUITIVE SURGICAL INC	42,899	$17.06M	1.3%	—	—	COM NEW	46120E602
ICLR	ICON PUB LTD CO	83,333	$14.48M	1.1%	—	—	SHS	G4705A100
LECO	LINCOLN ELEC HLDGS INC	52,193	$13.86M	1.1%	—	—	COM	533900106
CARR	CARRIER GLOBAL CORPORATION	188,214	$13.81M	1.1%	—	—	COM	14448C104
KO	COCA COLA CO	165,256	$13.43M	1.0%	—	—	COM	191216100
RVTY	REVVITY INC	109,761	$12.21M	0.9%	—	—	COM	714046109
GWW	WW GRAINGER INC	8,223	$11.19M	0.9%	—	—	COM	384802104
ARMK	ARAMARK	196,162	$11.16M	0.9%	—	—	COM	03852U106
MDLZ	MONDELEZ INTL INC	189,647	$10.97M	0.8%	—	—	CL A	609207105
MRSH	MARSH & MCLENNAN COS INC	65,402	$10.9M	0.8%	—	—	COM	571748102
CB	CHUBB LIMITED	30,674	$10.45M	0.8%	—	—	COM	H1467J104
IDXX	IDEXX LABS INC	18,931	$9.966M	0.8%	—	—	COM	45168D104
BLK	BLACKROCK INC	10,067	$9.68M	0.7%	—	—	COM	09290D101
TEL	TE CONNECTIVITY PLC	45,810	$9.236M	0.7%	—	—	ORD SHS	G87052109
MIAX	MIAMI INTL HLDGS INC	138,903	$5.162M	0.4%	—	—	COM	59356Q108
ELV	ELEVANCE HEALTH INC FORMERLY	13,292	$5.14M	0.4%	—	—	COM	036752103
VRSN	VERISIGN INC	16,519	$4.156M	0.3%	—	—	COM	92343E102
SBAC	SBA COMMUNICATIONS CORP	22,027	$3.887M	0.3%	—	—	CL A	78410G104
PCTY	PAYLOCITY HLDG CORP	32,651	$3.413M	0.3%	—	—	COM	70438V106
ROL	ROLLINS INC	61,751	$2.577M	0.2%	—	—	COM	775711104
GPN	GLOBAL PMTS INC	35,325	$2.563M	0.2%	—	—	COM	37940X102
BAND	BANDWIDTH INC	40,104	$2.539M	0.2%	—	—	COM CL A	05988J103
EFX	EQUIFAX INC	14,945	$2.372M	0.2%	—	—	COM	294429105
DXCM	DEXCOM INC	33,380	$2.248M	0.2%	—	—	COM	252131107
BLDR	BUILDERS FIRSTSOURCE INC	12,992	$1.163M	0.1%	—	—	COM	12008R107
SITE	SITEONE LANDSCAPE SUPPLY INC	9,919	$1.135M	0.1%	—	—	COM	82982L103
IBP	INSTALLED BLDG PRODS INC	4,692	$1.078M	0.1%	—	—	COM	45780R101
APD	AIR PRODUCTS AND CHEMICALS I	2,139	$627K	0.0%	—	—	COM	009158106

Increased Positions (38)

AMT AMERICAN TOWER CORP 2.5%

Value $32.43M (+349.1%) Shares 198,247 (+373.9%) Est. Cost — Unrealized —

COO COOPER COS INC 2.1%

Value $27.75M (+243.0%) Shares 387,030 (+242.0%) Est. Cost — Unrealized —

MCD MCDONALDS CORP 1.4%

Value $18.48M (+3390.3%) Shares 68,382 (+3913.0%) Est. Cost — Unrealized —

MAR MARRIOTT INTL INC NEW 1.7%

Value $22.62M (+367.3%) Shares 61,051 (+312.5%) Est. Cost — Unrealized —

PCOR PROCORE TECHNOLOGIES INC 1.3%

Value $16.64M (+557.5%) Shares 409,648 (+822.6%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 2.3%

Value $30.53M (+79.6%) Shares 81,854 (+78.3%) Est. Cost — Unrealized —

ECL ECOLAB INC 1.6%

Value $20.99M (+166.6%) Shares 75,337 (+154.5%) Est. Cost — Unrealized —

BALL BALL CORP 1.4%

Value $18.44M (+244.7%) Shares 295,441 (+226.5%) Est. Cost — Unrealized —

HEI/A HEICO CORP NEW 2.8%

Value $37.13M (+39.1%) Shares 143,977 (+13.9%) Est. Cost — Unrealized —

BSY BENTLEY SYS INC 1.8%

Value $23.51M (+78.7%) Shares 786,538 (+110.0%) Est. Cost — Unrealized —

LOW LOWES COS INC 1.4%

Value $18.6M (+113.6%) Shares 84,379 (+128.9%) Est. Cost — Unrealized —

DUK DUKE ENERGY CORP NEW 1.2%

Value $15.83M (+149.7%) Shares 125,098 (+158.3%) Est. Cost — Unrealized —

VLTO VERALTO CORP 2.8%

Value $37.01M (+33.1%) Shares 417,311 (+32.7%) Est. Cost — Unrealized —

HSY HERSHEY CO 2.1%

Value $27.53M (+42.2%) Shares 156,927 (+68.5%) Est. Cost — Unrealized —

CBOE CBOE GLOBAL MKTS INC 0.7%

Value $9.348M (+599.3%) Shares 38,522 (+710.0%) Est. Cost — Unrealized —

MKC MCCORMICK & CO INC 0.7%

Value $9.315M (+402.8%) Shares 184,743 (+403.0%) Est. Cost — Unrealized —

CHD CHURCH & DWIGHT CO INC 0.7%

Value $9.614M (+324.4%) Shares 99,237 (+308.8%) Est. Cost — Unrealized —

JPM JPMORGAN CHASE & CO 1.1%

Value $13.8M (+98.0%) Shares 42,160 (+78.0%) Est. Cost — Unrealized —

TW TRADEWEB MKTS INC 1.4%

Value $18.68M (+55.2%) Shares 187,468 (+83.3%) Est. Cost — Unrealized —

SPGI S&P GLOBAL INC 0.5%

Value $6.284M (+2391.6%) Shares 15,431 (+2502.2%) Est. Cost — Unrealized —

SYK STRYKER CORPORATION 0.5%

Value $6.974M (+336.5%) Shares 22,151 (+355.6%) Est. Cost — Unrealized —

MANH MANHATTAN ASSOCIATES INC 1.1%

Value $14.87M (+55.3%) Shares 106,792 (+48.5%) Est. Cost — Unrealized —

FERG FERGUSON ENTERPRISES INC 2.2%

Value $28.31M (+21.0%) Shares 119,297 (+18.9%) Est. Cost — Unrealized —

ODFL OLD DOMINION FREIGHT LINE IN 0.9%

Value $11.23M (+48.1%) Shares 51,842 (+33.6%) Est. Cost — Unrealized —

ABT ABBOTT LABORATORIES 0.6%

Value $7.592M (+84.6%) Shares 83,673 (+108.9%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 1.3%

Value $16.47M (+22.7%) Shares 82,325 (+6.9%) Est. Cost — Unrealized —

WTW WILLIS TOWERS WATSON PLC LTD 0.5%

Value $6.703M (+71.6%) Shares 25,646 (+90.9%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.7%

Value $9.046M (+36.1%) Shares 16,059 (+38.2%) Est. Cost — Unrealized —

A SBA COMMUNICATIONS CORP 0.5%

Value $6.622M (+53.7%) Shares 49,852 (+31.9%) Est. Cost — Unrealized —

JOYY JOYY INC 0.3%

Value $3.903M (+96.5%) Shares 59,149 (+73.9%) Est. Cost — Unrealized —

FOX FOX CORP 2.4%

Value $31.77M (-5.3%) Shares 678,165 (+7.3%) Est. Cost — Unrealized —

MSCI MSCI INC 0.6%

Value $7.996M (+24.3%) Shares 14,278 (+19.6%) Est. Cost — Unrealized —

MOD MODINE MFG CO 0.4%

Value $4.887M (+30.4%) Shares 18,301 (+5.9%) Est. Cost — Unrealized —

RNR RENAISSANCERE HLDGS LTD 0.3%

Value $4.092M (+38.1%) Shares 12,912 (+29.5%) Est. Cost — Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 1.6%

Value $20.44M (-2.5%) Shares 165,990 (+24.6%) Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.5%

Value $7.196M (-5.7%) Shares 254,096 (+34.3%) Est. Cost — Unrealized —

LAB STANDARD BIOTOOLS INC 0.1%

Value $1.755M (+8.1%) Shares 2,133,631 (+20.8%) Est. Cost — Unrealized —

BLKB BLACKBAUD INC 0.2%

Value $2.584M (-4.6%) Shares 87,249 (+24.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMT	AMERICAN TOWER CORP	198,247 (+373.9%)	$32.43M (+349.1%)	2.5%	—	—	COM	03027X100
COO	COOPER COS INC	387,030 (+242.0%)	$27.75M (+243.0%)	2.1%	—	—	COM	216648501
MCD	MCDONALDS CORP	68,382 (+3913.0%)	$18.48M (+3390.3%)	1.4%	—	—	COM	580135101
MAR	MARRIOTT INTL INC NEW	61,051 (+312.5%)	$22.62M (+367.3%)	1.7%	—	—	CL A	571903202
PCOR	PROCORE TECHNOLOGIES INC	409,648 (+822.6%)	$16.64M (+557.5%)	1.3%	—	—	COM	74275K108
MSFT	MICROSOFT CORP	81,854 (+78.3%)	$30.53M (+79.6%)	2.3%	—	—	COM	594918104
ECL	ECOLAB INC	75,337 (+154.5%)	$20.99M (+166.6%)	1.6%	—	—	COM	278865100
BALL	BALL CORP	295,441 (+226.5%)	$18.44M (+244.7%)	1.4%	—	—	COM	058498106
HEI/A	HEICO CORP NEW	143,977 (+13.9%)	$37.13M (+39.1%)	2.8%	—	—	CL A	422806208
BSY	BENTLEY SYS INC	786,538 (+110.0%)	$23.51M (+78.7%)	1.8%	—	—	COM CL B	08265T208
LOW	LOWES COS INC	84,379 (+128.9%)	$18.6M (+113.6%)	1.4%	—	—	COM	548661107
DUK	DUKE ENERGY CORP NEW	125,098 (+158.3%)	$15.83M (+149.7%)	1.2%	—	—	COM NEW	26441C204
VLTO	VERALTO CORP	417,311 (+32.7%)	$37.01M (+33.1%)	2.8%	—	—	COM SHS	92338C103
HSY	HERSHEY CO	156,927 (+68.5%)	$27.53M (+42.2%)	2.1%	—	—	COM	427866108
CBOE	CBOE GLOBAL MKTS INC	38,522 (+710.0%)	$9.348M (+599.3%)	0.7%	—	—	COM	12503M108
MKC	MCCORMICK & CO INC	184,743 (+403.0%)	$9.315M (+402.8%)	0.7%	—	—	COM NON VTG	579780206
CHD	CHURCH & DWIGHT CO INC	99,237 (+308.8%)	$9.614M (+324.4%)	0.7%	—	—	COM	171340102
JPM	JPMORGAN CHASE & CO	42,160 (+78.0%)	$13.8M (+98.0%)	1.1%	—	—	COM	46625H100
TW	TRADEWEB MKTS INC	187,468 (+83.3%)	$18.68M (+55.2%)	1.4%	—	—	CL A	892672106
SPGI	S&P GLOBAL INC	15,431 (+2502.2%)	$6.284M (+2391.6%)	0.5%	—	—	COM	78409V104
SYK	STRYKER CORPORATION	22,151 (+355.6%)	$6.974M (+336.5%)	0.5%	—	—	COM	863667101
MANH	MANHATTAN ASSOCIATES INC	106,792 (+48.5%)	$14.87M (+55.3%)	1.1%	—	—	COM	562750109
FERG	FERGUSON ENTERPRISES INC	119,297 (+18.9%)	$28.31M (+21.0%)	2.2%	—	—	COMMON STOCK NEW	31488V107
ODFL	OLD DOMINION FREIGHT LINE IN	51,842 (+33.6%)	$11.23M (+48.1%)	0.9%	—	—	COM	679580100
ABT	ABBOTT LABORATORIES	83,673 (+108.9%)	$7.592M (+84.6%)	0.6%	—	—	COM	002824100
NVDA	NVIDIA CORPORATION	82,325 (+6.9%)	$16.47M (+22.7%)	1.3%	—	—	COM	67066G104
WTW	WILLIS TOWERS WATSON PLC LTD	25,646 (+90.9%)	$6.703M (+71.6%)	0.5%	—	—	SHS	G96629103
META	META PLATFORMS INC	16,059 (+38.2%)	$9.046M (+36.1%)	0.7%	—	—	CL A	30303M102
A	SBA COMMUNICATIONS CORP	49,852 (+31.9%)	$6.622M (+53.7%)	0.5%	—	—	COM	00846U101
JOYY	JOYY INC	59,149 (+73.9%)	$3.903M (+96.5%)	0.3%	—	—	ADS REPSTG COM A	46591M109
FOX	FOX CORP	678,165 (+7.3%)	$31.77M (-5.3%)	2.4%	—	—	CL B COM	35137L204
MSCI	MSCI INC	14,278 (+19.6%)	$7.996M (+24.3%)	0.6%	—	—	COM	55354G100
MOD	MODINE MFG CO	18,301 (+5.9%)	$4.887M (+30.4%)	0.4%	—	—	COM	607828100
RNR	RENAISSANCERE HLDGS LTD	12,912 (+29.5%)	$4.092M (+38.1%)	0.3%	—	—	COM	G7496G103
ICE	INTERCONTINENTAL EXCHANGE IN	165,990 (+24.6%)	$20.44M (-2.5%)	1.6%	—	—	COM	45866F104
CSGP	COSTAR GROUP INC	254,096 (+34.3%)	$7.196M (-5.7%)	0.5%	—	—	COM	22160N109
LAB	STANDARD BIOTOOLS INC	2,133,631 (+20.8%)	$1.755M (+8.1%)	0.1%	—	—	COM	34385P108
BLKB	BLACKBAUD INC	87,249 (+24.3%)	$2.584M (-4.6%)	0.2%	—	—	COM	09227Q100

Exited Positions (26)

TMO THERMO FISHER SCIENTIFIC INC 1.5%

Value $19.74M Shares 40,158 Est. Cost — Unrealized —

V VISA INC 1.4%

Value $18.02M Shares 59,622 Est. Cost — Unrealized —

ZTS ZOETIS INC 1.2%

Value $15.47M Shares 130,871 Est. Cost — Unrealized —

EW EDWARDS LIFESCIENCES CORP 1.1%

Value $14.1M Shares 176,039 Est. Cost — Unrealized —

KKR KKR & CO INC 0.9%

Value $12.31M Shares 133,044 Est. Cost — Unrealized —

AON AON PLC 0.8%

Value $10.16M Shares 31,483 Est. Cost — Unrealized —

GOOGL ALPHABET INC 0.7%

Value $9.678M Shares 33,655 Est. Cost — Unrealized —

RBA RB GLOBAL INC 0.7%

Value $9.633M Shares 100,501 Est. Cost — Unrealized —

PAYX PAYCHEX INC 0.7%

Value $9.525M Shares 103,401 Est. Cost — Unrealized —

VMC VULCAN MATLS CO 0.7%

Value $9.1M Shares 33,419 Est. Cost — Unrealized —

IQV IQVIA HLDGS INC 0.6%

Value $7.653M Shares 44,878 Est. Cost — Unrealized —

COST COSTCO WHOLESALE CORPORATION 0.4%

Value $5.149M Shares 5,167 Est. Cost — Unrealized —

RGEN REPLIGEN CORP 0.4%

Value $4.635M Shares 39,340 Est. Cost — Unrealized —

ABNB AIRBNB INC 0.4%

Value $4.624M Shares 36,619 Est. Cost — Unrealized —

CELH CELSIUS HLDGS INC 0.3%

Value $4.528M Shares 127,612 Est. Cost — Unrealized —

BRBR BELLRING BRANDS INC 0.3%

Value $4.467M Shares 277,598 Est. Cost — Unrealized —

PTC PTC INC 0.3%

Value $4.462M Shares 31,316 Est. Cost — Unrealized —

TMHC TAYLOR MORRISON HOME CORP 0.3%

Value $3.783M Shares 64,963 Est. Cost — Unrealized —

BLD TOPBUILD COR 0.3%

Value $3.616M Shares 10,292 Est. Cost — Unrealized —

VRT VERTIV HOLDINGS CO 0.3%

Value $3.435M Shares 13,710 Est. Cost — Unrealized —

MNST MONSTER BEVERAGE CORP NEW 0.2%

Value $2.859M Shares 39,456 Est. Cost — Unrealized —

GTM ZOOMINFO TECHNOLOGIES INC 0.2%

Value $2.842M Shares 475,244 Est. Cost — Unrealized —

MEDP MEDPACE HLDGS INC 0.2%

Value $2.818M Shares 5,869 Est. Cost — Unrealized —

TTAN SERVICETITAN INC 0.2%

Value $2.753M Shares 43,379 Est. Cost — Unrealized —

KLAR KLARNA GROUP PLC 0.1%

Value $1.301M Shares 99,374 Est. Cost — Unrealized —

NDAQ NASDAQ INC 0.0%

Value $630K Shares 7,420 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TMO	THERMO FISHER SCIENTIFIC INC	40,158	$19.74M	1.5%	—	—	—	883556102
V	VISA INC	59,622	$18.02M	1.4%	—	—	—	92826C839
ZTS	ZOETIS INC	130,871	$15.47M	1.2%	—	—	—	98978V103
EW	EDWARDS LIFESCIENCES CORP	176,039	$14.1M	1.1%	—	—	—	28176E108
KKR	KKR & CO INC	133,044	$12.31M	0.9%	—	—	—	48251W104
AON	AON PLC	31,483	$10.16M	0.8%	—	—	—	G0403H108
GOOGL	ALPHABET INC	33,655	$9.678M	0.7%	—	—	—	02079K305
RBA	RB GLOBAL INC	100,501	$9.633M	0.7%	—	—	—	74935Q107
PAYX	PAYCHEX INC	103,401	$9.525M	0.7%	—	—	—	704326107
VMC	VULCAN MATLS CO	33,419	$9.1M	0.7%	—	—	—	929160109
IQV	IQVIA HLDGS INC	44,878	$7.653M	0.6%	—	—	—	46266C105
COST	COSTCO WHOLESALE CORPORATION	5,167	$5.149M	0.4%	—	—	—	22160K105
RGEN	REPLIGEN CORP	39,340	$4.635M	0.4%	—	—	—	759916109
ABNB	AIRBNB INC	36,619	$4.624M	0.4%	—	—	—	009066101
CELH	CELSIUS HLDGS INC	127,612	$4.528M	0.3%	—	—	—	15118V207
BRBR	BELLRING BRANDS INC	277,598	$4.467M	0.3%	—	—	—	07831C103
PTC	PTC INC	31,316	$4.462M	0.3%	—	—	—	69370C100
TMHC	TAYLOR MORRISON HOME CORP	64,963	$3.783M	0.3%	—	—	—	87724P106
BLD	TOPBUILD COR	10,292	$3.616M	0.3%	—	—	—	89055F103
VRT	VERTIV HOLDINGS CO	13,710	$3.435M	0.3%	—	—	—	92537N108
MNST	MONSTER BEVERAGE CORP NEW	39,456	$2.859M	0.2%	—	—	—	61174X109
GTM	ZOOMINFO TECHNOLOGIES INC	475,244	$2.842M	0.2%	—	—	—	98980F104
MEDP	MEDPACE HLDGS INC	5,869	$2.818M	0.2%	—	—	—	58506Q109
TTAN	SERVICETITAN INC	43,379	$2.753M	0.2%	—	—	—	81764X103
KLAR	KLARNA GROUP PLC	99,374	$1.301M	0.1%	—	—	—	G5279N105
NDAQ	NASDAQ INC	7,420	$630K	0.0%	—	—	—	631103108

Decreased Positions (37)

LII LENNOX INTL INC 0.3%

Value $3.938M (-89.9%) Shares 6,874 (-91.8%) Est. Cost — Unrealized —

HD HOME DEPOT INC 0.1%

Value $1.151M (-95.8%) Shares 3,263 (-96.1%) Est. Cost — Unrealized —

AWK AMERICAN WTR WKS CO INC NEW 0.4%

Value $4.796M (-84.1%) Shares 36,448 (-83.5%) Est. Cost — Unrealized —

PEP PEPSICO INC 0.0%

Value $301K (-98.4%) Shares 2,221 (-98.2%) Est. Cost — Unrealized —

ALLE ALLEGION PLC 1.6%

Value $20.79M (-46.2%) Shares 147,969 (-44.4%) Est. Cost — Unrealized —

ADSK AUTODESK INC 0.7%

Value $9.232M (-65.7%) Shares 47,487 (-57.8%) Est. Cost — Unrealized —

IEX IDEX CORP 1.8%

Value $24.13M (-37.5%) Shares 106,321 (-47.8%) Est. Cost — Unrealized —

UNP UNION PAC CORP 2.0%

Value $26.06M (-32.6%) Shares 95,813 (-39.8%) Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.1%

Value $1.016M (-91.3%) Shares 23,801 (-87.2%) Est. Cost — Unrealized —

ALC ALCON AG 0.2%

Value $2.147M (-81.7%) Shares 32,002 (-79.5%) Est. Cost — Unrealized —

INTU INTUIT 0.5%

Value $6.044M (-60.8%) Shares 23,159 (-35.0%) Est. Cost — Unrealized —

OTIS OTIS WORLDWIDE CORP 0.0%

Value $622K (-93.6%) Shares 8,693 (-93.1%) Est. Cost — Unrealized —

MKTX MARKETAXESS HLDGS INC 1.3%

Value $17.65M (-33.1%) Shares 155,522 (-2.8%) Est. Cost — Unrealized —

DSGX DESCARTES SYS GROUP INC 1.5%

Value $20.22M (-27.9%) Shares 291,962 (-25.5%) Est. Cost — Unrealized —

TT TRANE TECHNOLOGIES PLC 1.2%

Value $15.71M (-30.1%) Shares 31,982 (-40.7%) Est. Cost — Unrealized —

SNPS SYNOPSYS INC 0.1%

Value $1.402M (-82.5%) Shares 3,143 (-84.5%) Est. Cost — Unrealized —

XEL XCEL ENERGY INC 0.6%

Value $7.939M (-42.2%) Shares 98,863 (-42.8%) Est. Cost — Unrealized —

STE STERIS PLC 0.4%

Value $4.846M (-49.6%) Shares 23,016 (-47.1%) Est. Cost — Unrealized —

MTH MERITAGE HOMES CORP 0.8%

Value $10.75M (-30.4%) Shares 128,168 (-48.7%) Est. Cost — Unrealized —

APH AMPHENOL CORP 0.4%

Value $5.647M (-42.8%) Shares 32,025 (-59.0%) Est. Cost — Unrealized —

NOW SERVICENOW INC 0.5%

Value $6.195M (-39.0%) Shares 62,397 (-35.8%) Est. Cost — Unrealized —

MA MASTERCARD INCORPORATED 0.9%

Value $12.08M (-21.8%) Shares 23,520 (-23.9%) Est. Cost — Unrealized —

FTV FORTIVE CORP 1.5%

Value $19.88M (-14.1%) Shares 325,352 (-22.3%) Est. Cost — Unrealized —

ATR APTARGROUP INC 0.9%

Value $11.31M (-21.1%) Shares 90,366 (-20.6%) Est. Cost — Unrealized —

APPF APPFOLIO INC 1.4%

Value $18.64M (-11.7%) Shares 116,251 (-13.1%) Est. Cost — Unrealized —

TYL TYLER TECHNOLOGIES INC 0.4%

Value $5.51M (-27.1%) Shares 18,839 (-14.6%) Est. Cost — Unrealized —

ACGL ARCH CAP GROUP LTD 0.4%

Value $4.967M (-26.5%) Shares 51,173 (-27.3%) Est. Cost — Unrealized —

CP CANADIAN PACIFIC KANSAS CITY 0.6%

Value $8.269M (-17.3%) Shares 95,383 (-24.9%) Est. Cost — Unrealized —

RKT ROCKET COS INC 0.3%

Value $3.578M (-27.8%) Shares 227,152 (-34.7%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 2.1%

Value $27.12M (+5.1%) Shares 113,779 (-8.2%) Est. Cost — Unrealized —

MTD METTLER TOLEDO INTERNATIONAL 0.7%

Value $9.712M (-11.0%) Shares 7,602 (-12.1%) Est. Cost — Unrealized —

POOL POOL CORP 2.4%

Value $31.45M (-3.4%) Shares 146,366 (-9.0%) Est. Cost — Unrealized —

WEX WEX INC 0.3%

Value $3.709M (-17.6%) Shares 26,285 (-10.6%) Est. Cost — Unrealized —

FDS FACTSET RESH SYS INC 1.1%

Value $14.87M (+2.8%) Shares 64,630 (-3.0%) Est. Cost — Unrealized —

XYZ BLOCK INC 0.2%

Value $2.49M (+19.5%) Shares 32,768 (-5.3%) Est. Cost — Unrealized —

ADP AUTOMATIC DATA PROCESSING IN 1.4%

Value $18.45M (+1.7%) Shares 82,394 (-7.7%) Est. Cost — Unrealized —

WMB WILLIAMS COS INC 0.3%

Value $4.555M (-0.6%) Shares 61,268 (-2.7%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LII	LENNOX INTL INC	6,874 (-91.8%)	$3.938M (-89.9%)	0.3%	—	—	COM	526107107
HD	HOME DEPOT INC	3,263 (-96.1%)	$1.151M (-95.8%)	0.1%	—	—	COM	437076102
AWK	AMERICAN WTR WKS CO INC NEW	36,448 (-83.5%)	$4.796M (-84.1%)	0.4%	—	—	COM	030420103
PEP	PEPSICO INC	2,221 (-98.2%)	$301K (-98.4%)	0.0%	—	—	COM	713448108
ALLE	ALLEGION PLC	147,969 (-44.4%)	$20.79M (-46.2%)	1.6%	—	—	ORD SHS	G0176J109
ADSK	AUTODESK INC	47,487 (-57.8%)	$9.232M (-65.7%)	0.7%	—	—	COM	052769106
IEX	IDEX CORP	106,321 (-47.8%)	$24.13M (-37.5%)	1.8%	—	—	COM	45167R104
UNP	UNION PAC CORP	95,813 (-39.8%)	$26.06M (-32.6%)	2.0%	—	—	COM	907818108
BSX	BOSTON SCIENTIFIC CORP	23,801 (-87.2%)	$1.016M (-91.3%)	0.1%	—	—	COM	101137107
ALC	ALCON AG	32,002 (-79.5%)	$2.147M (-81.7%)	0.2%	—	—	ORD SHS	H01301128
INTU	INTUIT	23,159 (-35.0%)	$6.044M (-60.8%)	0.5%	—	—	COM	461202103
OTIS	OTIS WORLDWIDE CORP	8,693 (-93.1%)	$622K (-93.6%)	0.0%	—	—	COM	68902V107
MKTX	MARKETAXESS HLDGS INC	155,522 (-2.8%)	$17.65M (-33.1%)	1.3%	—	—	COM	57060D108
DSGX	DESCARTES SYS GROUP INC	291,962 (-25.5%)	$20.22M (-27.9%)	1.5%	—	—	COM	249906108
TT	TRANE TECHNOLOGIES PLC	31,982 (-40.7%)	$15.71M (-30.1%)	1.2%	—	—	SHS	G8994E103
SNPS	SYNOPSYS INC	3,143 (-84.5%)	$1.402M (-82.5%)	0.1%	—	—	COM	871607107
XEL	XCEL ENERGY INC	98,863 (-42.8%)	$7.939M (-42.2%)	0.6%	—	—	COM	98389B100
STE	STERIS PLC	23,016 (-47.1%)	$4.846M (-49.6%)	0.4%	—	—	SHS USD	G8473T100
MTH	MERITAGE HOMES CORP	128,168 (-48.7%)	$10.75M (-30.4%)	0.8%	—	—	COM	59001A102
APH	AMPHENOL CORP	32,025 (-59.0%)	$5.647M (-42.8%)	0.4%	—	—	CL A	032095101
NOW	SERVICENOW INC	62,397 (-35.8%)	$6.195M (-39.0%)	0.5%	—	—	COM	81762P102
MA	MASTERCARD INCORPORATED	23,520 (-23.9%)	$12.08M (-21.8%)	0.9%	—	—	CL A	57636Q104
FTV	FORTIVE CORP	325,352 (-22.3%)	$19.88M (-14.1%)	1.5%	—	—	COM	34959J108
ATR	APTARGROUP INC	90,366 (-20.6%)	$11.31M (-21.1%)	0.9%	—	—	COM	038336103
APPF	APPFOLIO INC	116,251 (-13.1%)	$18.64M (-11.7%)	1.4%	—	—	COM CL A	03783C100
TYL	TYLER TECHNOLOGIES INC	18,839 (-14.6%)	$5.51M (-27.1%)	0.4%	—	—	COM	902252105
ACGL	ARCH CAP GROUP LTD	51,173 (-27.3%)	$4.967M (-26.5%)	0.4%	—	—	ORD	G0450A105
CP	CANADIAN PACIFIC KANSAS CITY	95,383 (-24.9%)	$8.269M (-17.3%)	0.6%	—	—	COM	13646K108
RKT	ROCKET COS INC	227,152 (-34.7%)	$3.578M (-27.8%)	0.3%	—	—	COM CL A	77311W101
AMZN	AMAZON COM INC	113,779 (-8.2%)	$27.12M (+5.1%)	2.1%	—	—	COM	023135106
MTD	METTLER TOLEDO INTERNATIONAL	7,602 (-12.1%)	$9.712M (-11.0%)	0.7%	—	—	COM	592688105
POOL	POOL CORP	146,366 (-9.0%)	$31.45M (-3.4%)	2.4%	—	—	COM	73278L105
WEX	WEX INC	26,285 (-10.6%)	$3.709M (-17.6%)	0.3%	—	—	COM	96208T104
FDS	FACTSET RESH SYS INC	64,630 (-3.0%)	$14.87M (+2.8%)	1.1%	—	—	COM	303075105
XYZ	BLOCK INC	32,768 (-5.3%)	$2.49M (+19.5%)	0.2%	—	—	CL A	852234103
ADP	AUTOMATIC DATA PROCESSING IN	82,394 (-7.7%)	$18.45M (+1.7%)	1.4%	—	—	COM	053015103
WMB	WILLIAMS COS INC	61,268 (-2.7%)	$4.555M (-0.6%)	0.3%	—	—	COM	969457100