DUDLEY & SHANLEY, INC. Long-Term Concentrated

CIK: 0000883511 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 9, 2026

Total Value ($000): $622,207 (100.0% shares, 0.0% debt)

Holdings (33)

New Positions (3)

BMI Badger Meter Inc 2.3%

Value ($000) $14,423 Shares 82,695 Est. Cost $179.79 Unrealized 0.0%

VNOM Viper Energy Inc 0.0%

Value ($000) $297 Shares 7,700 Est. Cost $37.86 Unrealized 0.0%

FAST Fastenal Co. 0.0%

Value ($000) $287 Shares 7,150 Est. Cost $42.03 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BMI	Badger Meter Inc	82,695	$14,423	2.3%	$179.79	0.0%	COM	056525108
VNOM	Viper Energy Inc	7,700	$297	0.0%	$37.86	0.0%	COM	64361Q101
FAST	Fastenal Co.	7,150	$287	0.0%	$42.03	0.0%	COM	311900104

Increased Positions (6)

ROP Roper Technologies 1.2%

Value ($000) $7,770 (+511.0%) Shares 17,455 (+584.5%) Est. Cost $433.92 Unrealized +6.5%

FERG Ferguson Enterprises 3.7%

Value ($000) $23,192 (+36.8%) Shares 104,175 (+38.0%) Est. Cost $206.45 Unrealized +15.3%

WSO Watsco, Inc. 3.0%

Value ($000) $18,765 (+17.9%) Shares 55,692 (+41.5%) Est. Cost $356.75 Unrealized +0.1%

RYAN Ryan Specialty Hldngs 4.0%

Value ($000) $24,662 (-5.3%) Shares 477,671 (+3.4%) Est. Cost $38.70 Unrealized +41.7%

PGR Progressive Corp. 2.4%

Value ($000) $15,093 (-4.9%) Shares 66,280 (+3.2%) Est. Cost $68.01 Unrealized +212.2%

STLNF Stallion Uranium Corp 0.0%

Value ($000) $20 (+109.9%) Shares 85,000 (+183.3%) Est. Cost $0.27 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ROP	Roper Technologies	17,455 (+584.5%)	$7,770 (+511.0%)	1.2%	$433.92	+6.5%	COM	776696106
FERG	Ferguson Enterprises	104,175 (+38.0%)	$23,192 (+36.8%)	3.7%	$206.45	+15.3%	COM	31488V107
WSO	Watsco, Inc.	55,692 (+41.5%)	$18,765 (+17.9%)	3.0%	$356.75	+0.1%	COM	942622200
RYAN	Ryan Specialty Hldngs	477,671 (+3.4%)	$24,662 (-5.3%)	4.0%	$38.70	+41.7%	COM	78351F107
PGR	Progressive Corp.	66,280 (+3.2%)	$15,093 (-4.9%)	2.4%	$68.01	+212.2%	COM	743315103
STLNF	Stallion Uranium Corp	85,000 (+183.3%)	$20 (+109.9%)	0.0%	$0.27	—	COM	852919208

Exited Positions (2)

DOX Amdocs Ltd. 3.3%

Value ($000) $20,229 Shares 246,539 Est. Cost $83.79 Unrealized -4.7%

OCUL Ocular Therapeutix 0.0%

Value ($000) $152 Shares 13,000 Est. Cost $6.19 Unrealized +96.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DOX	Amdocs Ltd.	246,539	$20,229	3.3%	$83.79	-4.7%	—	G02602103
OCUL	Ocular Therapeutix	13,000	$152	0.0%	$6.19	+96.1%	—	67576A100

Decreased Positions (6)

FISV Fiserv Inc. 1.6%

Value ($000) $9,667 (-57.1%) Shares 143,923 (-17.7%) Est. Cost $64.10 Unrealized +30.8%

KRNT Kornit Digital 2.1%

Value ($000) $12,970 (-23.7%) Shares 901,960 (-28.4%) Est. Cost $18.83 Unrealized -27.2%

APH Amphenol Corp. 6.1%

Value ($000) $38,233 (-2.4%) Shares 282,911 (-10.6%) Est. Cost $49.89 Unrealized +167.7%

WPM Wheaton Precious Mtls 12.6%

Value ($000) $78,574 (+1.0%) Shares 668,605 (-3.9%) Est. Cost $26.64 Unrealized +301.9%

MSFT Microsoft Corp. 0.8%

Value ($000) $5,111 (-9.1%) Shares 10,569 (-2.6%) Est. Cost $90.57 Unrealized +452.7%

ORA Ormat Technologies 0.5%

Value ($000) $3,093 (+6.4%) Shares 28,000 (-7.3%) Est. Cost $68.71 Unrealized +59.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	Fiserv Inc.	143,923 (-17.7%)	$9,667 (-57.1%)	1.6%	$64.10	+30.8%	COM	337738108
KRNT	Kornit Digital	901,960 (-28.4%)	$12,970 (-23.7%)	2.1%	$18.83	-27.2%	COM	M6372Q113
APH	Amphenol Corp.	282,911 (-10.6%)	$38,233 (-2.4%)	6.1%	$49.89	+167.7%	COM	032095101
WPM	Wheaton Precious Mtls	668,605 (-3.9%)	$78,574 (+1.0%)	12.6%	$26.64	+301.9%	COM	962879102
MSFT	Microsoft Corp.	10,569 (-2.6%)	$5,111 (-9.1%)	0.8%	$90.57	+452.7%	COM	594918104
ORA	Ormat Technologies	28,000 (-7.3%)	$3,093 (+6.4%)	0.5%	$68.71	+59.1%	COM	686688102

Unchanged Positions (18)

DHR Danaher Corp. 4.2%

Value ($000) $26,299 Shares 114,881 Est. Cost $171.58 Unrealized +28.0%

ADI Analog Devices 5.4%

Value ($000) $33,906 Shares 125,021 Est. Cost $184.36 Unrealized +35.9%

AME Ametek Inc. 4.6%

Value ($000) $28,702 Shares 139,796 Est. Cost $125.21 Unrealized +55.2%

ALSN Allison Transmission 2.6%

Value ($000) $16,114 Shares 164,597 Est. Cost $38.61 Unrealized +126.6%

SCI Service Corp. Int'l 4.6%

Value ($000) $28,664 Shares 367,633 Est. Cost $38.46 Unrealized +108.0%

DCI Donaldson Co., Inc. 3.9%

Value ($000) $23,974 Shares 270,405 Est. Cost $72.73 Unrealized +18.8%

AWK Amer. Water Works 3.5%

Value ($000) $22,060 Shares 169,044 Est. Cost $136.82 Unrealized -2.7%

ECL Ecolab Inc. 4.4%

Value ($000) $27,580 Shares 105,058 Est. Cost $96.52 Unrealized +175.3%

SCHW Charles Schwab 3.9%

Value ($000) $24,072 Shares 240,933 Est. Cost $65.84 Unrealized +43.9%

V Visa Inc. 5.5%

Value ($000) $34,095 Shares 97,216 Est. Cost $208.01 Unrealized +63.6%

KAI Kadant Inc. 2.5%

Value ($000) $15,710 Shares 55,120 Est. Cost $295.94 Unrealized -4.1%

GNRC Generac Holdings 0.4%

Value ($000) $2,680 Shares 19,650 Est. Cost $113.74 Unrealized +41.9%

ROL Rollins, Inc. 4.4%

Value ($000) $27,353 Shares 455,730 Est. Cost $39.72 Unrealized +47.7%

A Agilent Tech, Inc. 1.2%

Value ($000) $7,511 Shares 55,200 Est. Cost $132.85 Unrealized +8.2%

NXE NexGen Energy Ltd. 1.8%

Value ($000) $11,382 Shares 1,235,150 Est. Cost $1.31 Unrealized +574.3%

— Aon plc 5.0%

Value ($000) $31,329 Shares 88,782 Est. Cost $172.84 Unrealized —

PHO Invesco Water ETF 0.4%

Value ($000) $2,308 Shares 32,780 Est. Cost $53.35 Unrealized —

HEI HEICO Corp. 1.0%

Value ($000) $6,310 Shares 19,500 Est. Cost $167.85 Unrealized +88.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DHR	Danaher Corp.	114,881	$26,299	4.2%	$171.58	+28.0%	COM	235851102
ADI	Analog Devices	125,021	$33,906	5.4%	$184.36	+35.9%	COM	032654105
AME	Ametek Inc.	139,796	$28,702	4.6%	$125.21	+55.2%	COM	031100100
ALSN	Allison Transmission	164,597	$16,114	2.6%	$38.61	+126.6%	COM	01973R101
SCI	Service Corp. Int'l	367,633	$28,664	4.6%	$38.46	+108.0%	COM	817565104
DCI	Donaldson Co., Inc.	270,405	$23,974	3.9%	$72.73	+18.8%	COM	257651109
AWK	Amer. Water Works	169,044	$22,060	3.5%	$136.82	-2.7%	COM	030420103
ECL	Ecolab Inc.	105,058	$27,580	4.4%	$96.52	+175.3%	COM	278865100
SCHW	Charles Schwab	240,933	$24,072	3.9%	$65.84	+43.9%	COM	808513105
V	Visa Inc.	97,216	$34,095	5.5%	$208.01	+63.6%	COM	92826C839
KAI	Kadant Inc.	55,120	$15,710	2.5%	$295.94	-4.1%	COM	48282T104
GNRC	Generac Holdings	19,650	$2,680	0.4%	$113.74	+41.9%	COM	368736104
ROL	Rollins, Inc.	455,730	$27,353	4.4%	$39.72	+47.7%	COM	775711104
A	Agilent Tech, Inc.	55,200	$7,511	1.2%	$132.85	+8.2%	COM	00846U101
NXE	NexGen Energy Ltd.	1,235,150	$11,382	1.8%	$1.31	+574.3%	COM	65340P106
—	Aon plc	88,782	$31,329	5.0%	$172.84	—	COM	g0403h108
PHO	Invesco Water ETF	32,780	$2,308	0.4%	$53.35	—	COM	46137V142
HEI	HEICO Corp.	19,500	$6,310	1.0%	$167.85	+88.3%	COM	422806109