Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RBA	RB GLOBAL INC	445,000	$51.82M	1.7%	$116.45	—	COM	74935Q107
ADP	AUTOMATIC DATA PROCESSING IN	75,214	$16.84M	0.6%	$223.95	—	COM	053015103
SARO	STANDARDAERO INC	390,390	$11.68M	0.4%	$29.91	—	COM	85423L103
MSCI	MSCI INC	20,054	$11.23M	0.4%	$560.04	—	COM	55354G100
EROK	EAGLEROCK LD LLC	488,115	$10.37M	0.3%	$21.25	—	CL A SHS REP LTD	27005A105
CME	CME GROUP INC	7,300	$1.612M	0.1%	$220.83	—	COM	12572Q105
MIDD	MIDDLEBY CORP	1,820	$313K	0.0%	$172.01	—	COM	596278101
QCOM	QUALCOMM INC	1,332	$246K	0.0%	$184.79	—	COM	747525103
XLK	SELECT SECTOR SPDR TR	1,256	$239K	0.0%	$190.52	—	ST STR TECHN ETF	81369Y803
BK	BANK OF NY MELLON CORP	1,600	$231K	0.0%	$144.61	—	COM	064058100
VIOO	VANGUARD ADMIRAL FDS INC	1,570	$216K	0.0%	$137.54	—	SMLLCP 600 IDX	921932828
FWRG	FIRST WATCH RESTAURANT GROUP	12,775	$165K	0.0%	$12.89	—	COM	33748L101
BVS	BIOVENTUS INC	12,580	$119K	0.0%	$9.44	—	COM CL A	09075A108

Increased Positions (34)

TSM TAIWAN SEMICONDUCTOR MANUFAC 3.7%

Value $113M (+130.9%) Shares 235,882 (+63.4%) Est. Cost $290.24 Unrealized —

SN SHARKNINJA INC 2.5%

Value $75.48M (+255.1%) Shares 495,700 (+147.0%) Est. Cost $123.16 Unrealized —

NVDA NVIDIA CORPORATION 4.6%

Value $139M (+45.3%) Shares 696,604 (+26.7%) Est. Cost $115.78 Unrealized —

VRSN VERISIGN INC 3.1%

Value $92.4M (+52.3%) Shares 367,300 (+50.3%) Est. Cost $235.81 Unrealized —

GFL GFL ENVIRONMENTAL INC 0.9%

Value $27.44M (+235.4%) Shares 745,863 (+280.4%) Est. Cost $35.47 Unrealized —

WBI WATERBRIDGE INFRASTRUCTURE L 1.9%

Value $57.63M (+34.2%) Shares 1,681,789 (+4.9%) Est. Cost $23.80 Unrealized —

SPGI S&P GLOBAL INC 2.8%

Value $85.75M (+13.5%) Shares 210,550 (+18.6%) Est. Cost $282.76 Unrealized —

LB LANDBRIDGE COMPANY LLC 1.7%

Value $51.09M (+24.8%) Shares 644,716 (+8.7%) Est. Cost $44.42 Unrealized —

DPZ DOMINOS PIZZA INC 1.0%

Value $29.31M (+48.5%) Shares 99,000 (+80.0%) Est. Cost $354.25 Unrealized —

STVN STEVANATO GROUP S P A 0.3%

Value $10.39M (+498.1%) Shares 574,751 (+355.1%) Est. Cost $17.98 Unrealized —

CVX CHEVRON CORPORATION 1.5%

Value $45.26M (-13.2%) Shares 273,067 (+8.3%) Est. Cost $86.32 Unrealized —

BRO BROWN & BROWN INC 1.4%

Value $42.25M (+16.7%) Shares 658,650 (+18.6%) Est. Cost $58.66 Unrealized —

LMT LOCKHEED MARTIN CORP 1.1%

Value $33.11M (-11.6%) Shares 65,000 (+4.8%) Est. Cost $326.16 Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 0.4%

Value $13.46M (-18.3%) Shares 109,300 (+4.4%) Est. Cost $120.77 Unrealized —

FOUR SHIFT4 PMTS INC 0.7%

Value $22.42M (+15.0%) Shares 460,941 (+3.4%) Est. Cost $72.58 Unrealized —

HNGE HINGE HEALTH INC 0.2%

Value $5.046M (+121.8%) Shares 60,800 (+3.1%) Est. Cost $47.57 Unrealized —

YETI YETI HLDGS INC 0.2%

Value $7.081M (+37.7%) Shares 142,870 (+1.7%) Est. Cost $42.68 Unrealized —

USLM UNITED STS LIME & MINERALS I 0.1%

Value $2.106M (+188.3%) Shares 20,123 (+259.8%) Est. Cost $108.74 Unrealized —

EXE EXPAND ENERGY CORPORATION 1.5%

Value $43.84M (-2.8%) Shares 480,720 (+17.0%) Est. Cost $77.45 Unrealized —

AOS SMITH A O CORP 1.1%

Value $32.98M (-3.4%) Shares 525,883 (+1.6%) Est. Cost $59.35 Unrealized —

OXY OCCIDENTAL PETE CORP 0.1%

Value $3.436M (+45.8%) Shares 70,750 (+95.2%) Est. Cost $50.94 Unrealized —

BKNG BOOKING HOLDINGS INC 0.6%

Value $17.82M (+5.8%) Shares 100,000 (+2400.0%) Est. Cost $247.47 Unrealized —

WU WESTERN UN CO 0.3%

Value $10.39M (-8.4%) Shares 1,350,000 (+3.8%) Est. Cost $10.06 Unrealized —

CSW CSW INDUSTRIALS INC 0.2%

Value $7.384M (+9.0%) Shares 26,535 (+2.1%) Est. Cost $266.53 Unrealized —

NU NU HLDGS LTD 0.1%

Value $3.701M (+18.4%) Shares 277,000 (+27.3%) Est. Cost $13.41 Unrealized —

DSGR DISTRIBUTION SOLUTIONS GRP I 0.3%

Value $8.671M (+5.7%) Shares 317,047 (+1.4%) Est. Cost $31.33 Unrealized —

ATR APTARGROUP INC 1.6%

Value $49.22M (+0.9%) Shares 393,110 (+1.5%) Est. Cost $126.58 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value $2.007M (+22.8%) Shares 4,010 (+17.6%) Est. Cost $180.11 Unrealized —

BNT BROOKFIELD WEALTH SOL LTD 0.1%

Value $3.88M (+7.2%) Shares 90,954 (+4.1%) Est. Cost $37.12 Unrealized —

SBS COMPANHIA DE SANEAMENTO BASI 0.1%

Value $3.645M (-5.1%) Shares 630,635 (+400.8%) Est. Cost $8.17 Unrealized —

FSV FIRSTSERVICE CORP NEW 0.1%

Value $2.252M (+8.0%) Shares 15,845 (+5.6%) Est. Cost $127.22 Unrealized —

KARO KAROOOOO LTD 0.1%

Value $3.986M (+2.1%) Shares 80,755 (+3.0%) Est. Cost $33.66 Unrealized —

VIST VISTA ENERGY S.A.B. DE C.V. 0.1%

Value $2.839M (-2.0%) Shares 44,500 (+15.9%) Est. Cost $46.18 Unrealized —

WINA WINMARK CORP 0.4%

Value $11.37M (-0.0%) Shares 26,880 (+1.1%) Est. Cost $226.05 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	235,882 (+63.4%)	$113M (+130.9%)	3.7%	$290.24	—	SPONSORED ADS	874039100
SN	SHARKNINJA INC	495,700 (+147.0%)	$75.48M (+255.1%)	2.5%	$123.16	—	COM SHS	G8068L108
NVDA	NVIDIA CORPORATION	696,604 (+26.7%)	$139M (+45.3%)	4.6%	$115.78	—	COM	67066G104
VRSN	VERISIGN INC	367,300 (+50.3%)	$92.4M (+52.3%)	3.1%	$235.81	—	COM	92343E102
GFL	GFL ENVIRONMENTAL INC	745,863 (+280.4%)	$27.44M (+235.4%)	0.9%	$35.47	—	SUB VTG SHS	36168Q104
WBI	WATERBRIDGE INFRASTRUCTURE L	1,681,789 (+4.9%)	$57.63M (+34.2%)	1.9%	$23.80	—	CL A SHS REPSTG	940923105
SPGI	S&P GLOBAL INC	210,550 (+18.6%)	$85.75M (+13.5%)	2.8%	$282.76	—	COM	78409V104
LB	LANDBRIDGE COMPANY LLC	644,716 (+8.7%)	$51.09M (+24.8%)	1.7%	$44.42	—	CL A	514952100
DPZ	DOMINOS PIZZA INC	99,000 (+80.0%)	$29.31M (+48.5%)	1.0%	$354.25	—	COM	25754A201
STVN	STEVANATO GROUP S P A	574,751 (+355.1%)	$10.39M (+498.1%)	0.3%	$17.98	—	ORD SHS	T9224W109
CVX	CHEVRON CORPORATION	273,067 (+8.3%)	$45.26M (-13.2%)	1.5%	$86.32	—	COM	166764100
BRO	BROWN & BROWN INC	658,650 (+18.6%)	$42.25M (+16.7%)	1.4%	$58.66	—	COM	115236101
LMT	LOCKHEED MARTIN CORP	65,000 (+4.8%)	$33.11M (-11.6%)	1.1%	$326.16	—	COM	539830109
ICE	INTERCONTINENTAL EXCHANGE IN	109,300 (+4.4%)	$13.46M (-18.3%)	0.4%	$120.77	—	COM	45866F104
FOUR	SHIFT4 PMTS INC	460,941 (+3.4%)	$22.42M (+15.0%)	0.7%	$72.58	—	CL A	82452J109
HNGE	HINGE HEALTH INC	60,800 (+3.1%)	$5.046M (+121.8%)	0.2%	$47.57	—	CL A	433313103
YETI	YETI HLDGS INC	142,870 (+1.7%)	$7.081M (+37.7%)	0.2%	$42.68	—	COM	98585X104
USLM	UNITED STS LIME & MINERALS I	20,123 (+259.8%)	$2.106M (+188.3%)	0.1%	$108.74	—	COM	911922102
EXE	EXPAND ENERGY CORPORATION	480,720 (+17.0%)	$43.84M (-2.8%)	1.5%	$77.45	—	COM	165167735
AOS	SMITH A O CORP	525,883 (+1.6%)	$32.98M (-3.4%)	1.1%	$59.35	—	COM	831865209
OXY	OCCIDENTAL PETE CORP	70,750 (+95.2%)	$3.436M (+45.8%)	0.1%	$50.94	—	COM	674599105
BKNG	BOOKING HOLDINGS INC	100,000 (+2400.0%)	$17.82M (+5.8%)	0.6%	$247.47	—	COM	09857L108
WU	WESTERN UN CO	1,350,000 (+3.8%)	$10.39M (-8.4%)	0.3%	$10.06	—	COM	959802109
CSW	CSW INDUSTRIALS INC	26,535 (+2.1%)	$7.384M (+9.0%)	0.2%	$266.53	—	COM	126402106
NU	NU HLDGS LTD	277,000 (+27.3%)	$3.701M (+18.4%)	0.1%	$13.41	—	ORD SHS CL A	G6683N103
DSGR	DISTRIBUTION SOLUTIONS GRP I	317,047 (+1.4%)	$8.671M (+5.7%)	0.3%	$31.33	—	COM	520776105
ATR	APTARGROUP INC	393,110 (+1.5%)	$49.22M (+0.9%)	1.6%	$126.58	—	COM	038336103
BRK/B	BERKSHIRE HATHAWAY INC DEL	4,010 (+17.6%)	$2.007M (+22.8%)	0.1%	$180.11	—	CL B NEW	084670702
BNT	BROOKFIELD WEALTH SOL LTD	90,954 (+4.1%)	$3.88M (+7.2%)	0.1%	$37.12	—	CL A EXCHANGEAB	G17434104
SBS	COMPANHIA DE SANEAMENTO BASI	630,635 (+400.8%)	$3.645M (-5.1%)	0.1%	$8.17	—	SPONSORED ADR	20441A102
FSV	FIRSTSERVICE CORP NEW	15,845 (+5.6%)	$2.252M (+8.0%)	0.1%	$127.22	—	COM	33767E202
KARO	KAROOOOO LTD	80,755 (+3.0%)	$3.986M (+2.1%)	0.1%	$33.66	—	ORD SHS	Y4600W108
VIST	VISTA ENERGY S.A.B. DE C.V.	44,500 (+15.9%)	$2.839M (-2.0%)	0.1%	$46.18	—	SPONSORED ADS	92837L109
WINA	WINMARK CORP	26,880 (+1.1%)	$11.37M (-0.0%)	0.4%	$226.05	—	COM	974250102

Exited Positions (4)

WSO WATSCO INC 0.3%

Value $9.162M Shares 25,185 Est. Cost $374.03 Unrealized —

STNE STONECO LTD 0.1%

Value $3.62M Shares 256,400 Est. Cost $11.43 Unrealized —

GGG GRACO INC 0.0%

Value $214K Shares 2,524 Est. Cost $33.56 Unrealized —

NOC NORTHROP GRUMMAN CORP 0.0%

Value $205K Shares 300 Est. Cost $673.66 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WSO	WATSCO INC	25,185	$9.162M	0.3%	$374.03	—	—	942622200
STNE	STONECO LTD	256,400	$3.62M	0.1%	$11.43	—	—	G85158106
GGG	GRACO INC	2,524	$214K	0.0%	$33.56	—	—	384109104
NOC	NORTHROP GRUMMAN CORP	300	$205K	0.0%	$673.66	—	—	666807102

Decreased Positions (32)

SIMO SILICON MOTION TECHNOLOGY CO 3.0%

Value $90M (+167.2%) Shares 270,000 (-10.0%) Est. Cost $84.03 Unrealized —

ACN ACCENTURE PLC IRELAND 0.3%

Value $7.667M (-87.1%) Shares 61,610 (-79.5%) Est. Cost $186.73 Unrealized —

TXN TEXAS INSTRS INC 4.6%

Value $140M (+47.3%) Shares 468,900 (-4.1%) Est. Cost $96.04 Unrealized —

ZTS ZOETIS INC 0.0%

Value $1.042M (-97.3%) Shares 14,500 (-95.5%) Est. Cost $148.99 Unrealized —

TFC TRUIST FINL CORP 0.4%

Value $12.09M (-68.8%) Shares 242,695 (-71.2%) Est. Cost $37.50 Unrealized —

ALC ALCON AG 0.2%

Value $5.145M (-83.1%) Shares 76,683 (-81.1%) Est. Cost $71.77 Unrealized —

RMBS RAMBUS INC DEL 0.4%

Value $13.27M (-63.3%) Shares 100,000 (-76.2%) Est. Cost $85.00 Unrealized —

FNF FIDELITY NATL FINL INC 0.3%

Value $7.781M (-72.7%) Shares 165,000 (-73.2%) Est. Cost $28.91 Unrealized —

TSEM TOWER SEMICONDUCTOR LTD 1.0%

Value $28.67M (-37.2%) Shares 110,000 (-57.7%) Est. Cost $54.61 Unrealized —

CPRT COPART INC 0.1%

Value $1.931M (-89.5%) Shares 68,500 (-87.7%) Est. Cost $31.67 Unrealized —

BN BROOKFIELD CORP 0.2%

Value $4.588M (-76.4%) Shares 107,719 (-77.5%) Est. Cost $30.28 Unrealized —

INTC INTEL CORP 1.9%

Value $56.99M (+34.8%) Shares 408,122 (-57.4%) Est. Cost $46.43 Unrealized —

FNV FRANCO NEV CORP 0.6%

Value $17.76M (-41.4%) Shares 85,200 (-30.6%) Est. Cost $128.50 Unrealized —

WPM WHEATON PRECIOUS METALS CORP 0.8%

Value $23.03M (-33.7%) Shares 205,000 (-22.6%) Est. Cost $46.44 Unrealized —

ROP ROPER TECHNOLOGIES INC 2.2%

Value $65M (-13.4%) Shares 192,100 (-9.5%) Est. Cost $395.67 Unrealized —

ENTG ENTEGRIS INC 1.1%

Value $32.37M (+38.1%) Shares 180,000 (-10.0%) Est. Cost $84.89 Unrealized —

TJX TJX COS INC NEW 1.0%

Value $30.67M (-20.8%) Shares 202,450 (-16.5%) Est. Cost $32.11 Unrealized —

POOL POOL CORP 0.7%

Value $22.37M (-21.9%) Shares 104,110 (-26.4%) Est. Cost $252.85 Unrealized —

CHE CHEMED CORP NEW 0.0%

Value $252K (-96.1%) Shares 540 (-96.8%) Est. Cost $495.79 Unrealized —

MIR MIRION TECHNOLOGIES INC 0.3%

Value $10.29M (-35.2%) Shares 573,910 (-32.8%) Est. Cost $9.21 Unrealized —

BAM BROOKFIELD ASSET MANAGMT LTD 0.0%

Value $309K (-91.4%) Shares 6,900 (-91.5%) Est. Cost $55.24 Unrealized —

BLDR BUILDERS FIRSTSOURCE INC 0.3%

Value $8.781M (-25.7%) Shares 98,135 (-31.7%) Est. Cost $116.94 Unrealized —

JOE ST JOE CO 0.5%

Value $14.05M (-16.0%) Shares 224,400 (-15.8%) Est. Cost $46.27 Unrealized —

GPC GENUINE PARTS CO 1.3%

Value $40.08M (+5.7%) Shares 339,750 (-5.3%) Est. Cost $98.15 Unrealized —

SLB SLB LIMITED 0.4%

Value $11.62M (-13.0%) Shares 250,000 (-3.8%) Est. Cost $30.05 Unrealized —

FIX COMFORT SYS USA INC 0.3%

Value $8.919M (+22.0%) Shares 4,500 (-15.1%) Est. Cost $365.93 Unrealized —

CSL CARLISLE COS INC 1.0%

Value $29.02M (-3.3%) Shares 80,000 (-11.1%) Est. Cost $231.61 Unrealized —

TIC TIC SOLUTIONS INC 0.1%

Value $3.547M (-11.3%) Shares 438,467 (-27.8%) Est. Cost $11.22 Unrealized —

APO APOLLO GLOBAL MGMT INC 0.1%

Value $3.192M (-12.1%) Shares 26,980 (-17.2%) Est. Cost $98.56 Unrealized —

REGN REGENERON PHARMACEUTICALS 0.0%

Value $561K (-34.0%) Shares 900 (-18.2%) Est. Cost $643.32 Unrealized —

ULTA ULTA BEAUTY INC 0.0%

Value $372K (-36.8%) Shares 824 (-26.7%) Est. Cost $411.23 Unrealized —

BSV VANGUARD BD INDEX FDS 0.0%

Value $1.071M (-8.9%) Shares 13,750 (-8.3%) Est. Cost $82.63 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SIMO	SILICON MOTION TECHNOLOGY CO	270,000 (-10.0%)	$90M (+167.2%)	3.0%	$84.03	—	SPONSORED ADR	82706C108
ACN	ACCENTURE PLC IRELAND	61,610 (-79.5%)	$7.667M (-87.1%)	0.3%	$186.73	—	SHS CLASS A	G1151C101
TXN	TEXAS INSTRS INC	468,900 (-4.1%)	$140M (+47.3%)	4.6%	$96.04	—	COM	882508104
ZTS	ZOETIS INC	14,500 (-95.5%)	$1.042M (-97.3%)	0.0%	$148.99	—	CL A	98978V103
TFC	TRUIST FINL CORP	242,695 (-71.2%)	$12.09M (-68.8%)	0.4%	$37.50	—	COM	89832Q109
ALC	ALCON AG	76,683 (-81.1%)	$5.145M (-83.1%)	0.2%	$71.77	—	ORD SHS	H01301128
RMBS	RAMBUS INC DEL	100,000 (-76.2%)	$13.27M (-63.3%)	0.4%	$85.00	—	COM	750917106
FNF	FIDELITY NATL FINL INC	165,000 (-73.2%)	$7.781M (-72.7%)	0.3%	$28.91	—	COM SHS	31620R303
TSEM	TOWER SEMICONDUCTOR LTD	110,000 (-57.7%)	$28.67M (-37.2%)	1.0%	$54.61	—	SHS NEW	M87915274
CPRT	COPART INC	68,500 (-87.7%)	$1.931M (-89.5%)	0.1%	$31.67	—	COM	217204106
BN	BROOKFIELD CORP	107,719 (-77.5%)	$4.588M (-76.4%)	0.2%	$30.28	—	CL A LTD VT SH	11271J107
INTC	INTEL CORP	408,122 (-57.4%)	$56.99M (+34.8%)	1.9%	$46.43	—	COM	458140100
FNV	FRANCO NEV CORP	85,200 (-30.6%)	$17.76M (-41.4%)	0.6%	$128.50	—	COM	351858105
WPM	WHEATON PRECIOUS METALS CORP	205,000 (-22.6%)	$23.03M (-33.7%)	0.8%	$46.44	—	COM	962879102
ROP	ROPER TECHNOLOGIES INC	192,100 (-9.5%)	$65M (-13.4%)	2.2%	$395.67	—	COM	776696106
ENTG	ENTEGRIS INC	180,000 (-10.0%)	$32.37M (+38.1%)	1.1%	$84.89	—	COM	29362U104
TJX	TJX COS INC NEW	202,450 (-16.5%)	$30.67M (-20.8%)	1.0%	$32.11	—	COM	872540109
POOL	POOL CORP	104,110 (-26.4%)	$22.37M (-21.9%)	0.7%	$252.85	—	COM	73278L105
CHE	CHEMED CORP NEW	540 (-96.8%)	$252K (-96.1%)	0.0%	$495.79	—	COM	16359R103
MIR	MIRION TECHNOLOGIES INC	573,910 (-32.8%)	$10.29M (-35.2%)	0.3%	$9.21	—	COM CL A	60471A101
BAM	BROOKFIELD ASSET MANAGMT LTD	6,900 (-91.5%)	$309K (-91.4%)	0.0%	$55.24	—	CL A LMT VTG SHS	113004105
BLDR	BUILDERS FIRSTSOURCE INC	98,135 (-31.7%)	$8.781M (-25.7%)	0.3%	$116.94	—	COM	12008R107
JOE	ST JOE CO	224,400 (-15.8%)	$14.05M (-16.0%)	0.5%	$46.27	—	COM	790148100
GPC	GENUINE PARTS CO	339,750 (-5.3%)	$40.08M (+5.7%)	1.3%	$98.15	—	COM	372460105
SLB	SLB LIMITED	250,000 (-3.8%)	$11.62M (-13.0%)	0.4%	$30.05	—	COM STK	806857108
FIX	COMFORT SYS USA INC	4,500 (-15.1%)	$8.919M (+22.0%)	0.3%	$365.93	—	COM	199908104
CSL	CARLISLE COS INC	80,000 (-11.1%)	$29.02M (-3.3%)	1.0%	$231.61	—	COM	142339100
TIC	TIC SOLUTIONS INC	438,467 (-27.8%)	$3.547M (-11.3%)	0.1%	$11.22	—	COM	00510N102
APO	APOLLO GLOBAL MGMT INC	26,980 (-17.2%)	$3.192M (-12.1%)	0.1%	$98.56	—	COM	03769M106
REGN	REGENERON PHARMACEUTICALS	900 (-18.2%)	$561K (-34.0%)	0.0%	$643.32	—	COM	75886F107
ULTA	ULTA BEAUTY INC	824 (-26.7%)	$372K (-36.8%)	0.0%	$411.23	—	COM	90384S303
BSV	VANGUARD BD INDEX FDS	13,750 (-8.3%)	$1.071M (-8.9%)	0.0%	$82.63	—	SHORT TRM BOND	921937827

Unchanged Positions (59)

HEI/A HEICO CORP NEW 3.8%

Value $114M Shares 443,590 Est. Cost $67.44 Unrealized —

TPL TEXAS PACIFIC LAND CORPORATI 6.0%

Value $181M Shares 413,457 Est. Cost $256.92 Unrealized —

SNX TD SYNNEX CORPORATION 1.1%

Value $31.95M Shares 119,500 Est. Cost $107.38 Unrealized —

BR BROADRIDGE FINL SOLUTIONS IN 1.4%

Value $43.23M Shares 315,630 Est. Cost $130.58 Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 1.2%

Value $35.04M Shares 120,575 Est. Cost $206.14 Unrealized —

FANG DIAMONDBACK ENERGY INC 1.4%

Value $41.61M Shares 236,700 Est. Cost $154.13 Unrealized —

CCEP COCA-COLA EUROPACIFIC PARTNE 1.6%

Value $48.03M Shares 480,000 Est. Cost $44.99 Unrealized —

XPEL XPEL INC 1.4%

Value $40.81M Shares 822,824 Est. Cost $43.77 Unrealized —

LOW LOWES COS INC 2.0%

Value $59.21M Shares 268,550 Est. Cost $65.56 Unrealized —

PBT PERMIAN BASIN RTY TR 0.8%

Value $23.38M Shares 933,719 Est. Cost $16.56 Unrealized —

APG API GROUP CORP 2.6%

Value $77.79M Shares 1,836,893 Est. Cost $21.09 Unrealized —

XOM EXXON MOBIL CORP 0.4%

Value $12.07M Shares 88,278 Est. Cost $92.04 Unrealized —

MA MASTERCARD INCORPORATED 3.1%

Value $94.23M Shares 183,474 Est. Cost $183.68 Unrealized —

MCO MOODYS CORP 2.3%

Value $69.3M Shares 153,000 Est. Cost $199.08 Unrealized —

HIFS HINGHAM INSTN SVGS MASS 0.8%

Value $25.06M Shares 81,582 Est. Cost $234.98 Unrealized —

BL BLACKLINE INC 0.2%

Value $4.912M Shares 175,000 Est. Cost $62.27 Unrealized —

DGX QUEST DIAGNOSTICS INC 0.7%

Value $20.33M Shares 95,900 Est. Cost $92.63 Unrealized —

GLD SPDR GOLD TR 0.3%

Value $8.968M Shares 24,344 Est. Cost $120.11 Unrealized —

FAST FASTENAL CO 1.4%

Value $43.3M Shares 901,600 Est. Cost $31.61 Unrealized —

IQV IQVIA HLDGS INC 0.4%

Value $12.37M Shares 64,000 Est. Cost $212.77 Unrealized —

ETN EATON CORP PLC 0.3%

Value $7.779M Shares 18,256 Est. Cost $92.76 Unrealized —

SNPS SYNOPSYS INC 0.2%

Value $6.122M Shares 13,724 Est. Cost $565.30 Unrealized —

JKHY HENRY JACK & ASSOC INC 0.1%

Value $3.485M Shares 25,300 Est. Cost $149.82 Unrealized —

ESAB ESAB CORPORATION 0.6%

Value $16.92M Shares 171,530 Est. Cost $119.15 Unrealized —

HWM HOWMET AEROSPACE INC 0.1%

Value $3.092M Shares 11,500 Est. Cost $109.18 Unrealized —

GDX VANECK ETF TRUST 0.1%

Value $1.741M Shares 23,075 Est. Cost $39.97 Unrealized —

ALLE ALLEGION PLC 0.4%

Value $10.68M Shares 76,000 Est. Cost $102.12 Unrealized —

PR PERMIAN RESOURCES CORP 0.1%

Value $2.218M Shares 120,500 Est. Cost $15.78 Unrealized —

AWI ARMSTRONG WORLD INDS INC NEW 0.4%

Value $12.51M Shares 78,000 Est. Cost $70.77 Unrealized —

MAS MASCO CORP 0.0%

Value $1.017M Shares 12,500 Est. Cost $63.31 Unrealized —

PAAS PAN AMERN SILVER CORP 0.0%

Value $1.12M Shares 25,000 Est. Cost $14.91 Unrealized —

AAPL APPLE INC 0.1%

Value $1.881M Shares 6,500 Est. Cost $110.70 Unrealized —

SBAC SBA COMMUNICATIONS CORP 0.2%

Value $7.058M Shares 40,000 Est. Cost $197.07 Unrealized —

PHR PHREESIA INC 0.0%

Value $810K Shares 78,700 Est. Cost $24.72 Unrealized —

ORLY OREILLY AUTOMOTIVE INC 2.0%

Value $61.24M Shares 665,000 Est. Cost $86.09 Unrealized —

ACGL ARCH CAP GROUP LTD 0.4%

Value $12.62M Shares 130,000 Est. Cost $92.50 Unrealized —

FG F&G ANNUITIES & LIFE INC 0.1%

Value $2.563M Shares 96,384 Est. Cost $22.21 Unrealized —

TEL TE CONNECTIVITY PLC 0.1%

Value $2.661M Shares 13,200 Est. Cost $200.30 Unrealized —

HDB HDFC BANK LTD 0.1%

Value $2.586M Shares 100,100 Est. Cost $47.27 Unrealized —

PHM PULTE GROUP INC 0.0%

Value $603K Shares 4,398 Est. Cost $28.36 Unrealized —

GDXJ VANECK ETF TRUST 0.0%

Value $330K Shares 3,360 Est. Cost $120.04 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.0%

Value $764K Shares 12,806 Est. Cost $49.91 Unrealized —

KR KROGER CO 0.0%

Value $205K Shares 3,700 Est. Cost $22.69 Unrealized —

V VISA INC 0.0%

Value $504K Shares 1,470 Est. Cost $133.68 Unrealized —

VRTX VERTEX PHARMACEUTICALS INC 0.0%

Value $497K Shares 1,000 Est. Cost $206.98 Unrealized —

DE DEERE & CO 0.0%

Value $349K Shares 550 Est. Cost $388.70 Unrealized —

NSC NORFOLK SOUTHN CORP 0.0%

Value $428K Shares 1,359 Est. Cost $58.52 Unrealized —

WMT WALMART INC 0.0%

Value $334K Shares 2,950 Est. Cost $61.97 Unrealized —

MMM 3M CO 0.0%

Value $275K Shares 1,700 Est. Cost $75.54 Unrealized —

SHOP SHOPIFY INC 0.0%

Value $702K Shares 6,150 Est. Cost $43.68 Unrealized —

SYK STRYKER CORPORATION 0.0%

Value $535K Shares 1,700 Est. Cost $57.64 Unrealized —

EMR EMERSON ELEC CO 0.0%

Value $243K Shares 1,700 Est. Cost $99.38 Unrealized —

EQIX EQUINIX INC 0.0%

Value $318K Shares 305 Est. Cost $619.96 Unrealized —

JNJ JOHNSON & JOHNSON 0.0%

Value $499K Shares 1,963 Est. Cost $108.01 Unrealized —

ROST ROSS STORES INC 0.0%

Value $915K Shares 4,300 Est. Cost $49.69 Unrealized —

CB CHUBB LIMITED 0.0%

Value $341K Shares 1,000 Est. Cost $119.71 Unrealized —

MSFT MICROSOFT CORP 0.0%

Value $912K Shares 2,445 Est. Cost $176.66 Unrealized —

GD GENERAL DYNAMICS CORP 0.0%

Value $212K Shares 598 Est. Cost $234.24 Unrealized —

DLO DLOCAL LTD 0.1%

Value $2.694M Shares 207,200 Est. Cost $12.71 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HEI/A	HEICO CORP NEW	443,590	$114M	3.8%	$67.44	—	CL A	422806208
TPL	TEXAS PACIFIC LAND CORPORATI	413,457	$181M	6.0%	$256.92	—	COM	88262P102
SNX	TD SYNNEX CORPORATION	119,500	$31.95M	1.1%	$107.38	—	COM	87162W100
BR	BROADRIDGE FINL SOLUTIONS IN	315,630	$43.23M	1.4%	$130.58	—	COM	11133T103
LHX	L3HARRIS TECHNOLOGIES INC	120,575	$35.04M	1.2%	$206.14	—	COM	502431109
FANG	DIAMONDBACK ENERGY INC	236,700	$41.61M	1.4%	$154.13	—	COM	25278X109
CCEP	COCA-COLA EUROPACIFIC PARTNE	480,000	$48.03M	1.6%	$44.99	—	SHS	G25839104
XPEL	XPEL INC	822,824	$40.81M	1.4%	$43.77	—	COM	98379L100
LOW	LOWES COS INC	268,550	$59.21M	2.0%	$65.56	—	COM	548661107
PBT	PERMIAN BASIN RTY TR	933,719	$23.38M	0.8%	$16.56	—	UNIT BEN INT	714236106
APG	API GROUP CORP	1,836,893	$77.79M	2.6%	$21.09	—	COM STK	00187Y100
XOM	EXXON MOBIL CORP	88,278	$12.07M	0.4%	$92.04	—	COM	30231G102
MA	MASTERCARD INCORPORATED	183,474	$94.23M	3.1%	$183.68	—	CL A	57636Q104
MCO	MOODYS CORP	153,000	$69.3M	2.3%	$199.08	—	COM	615369105
HIFS	HINGHAM INSTN SVGS MASS	81,582	$25.06M	0.8%	$234.98	—	COM	433323102
BL	BLACKLINE INC	175,000	$4.912M	0.2%	$62.27	—	COM	09239B109
DGX	QUEST DIAGNOSTICS INC	95,900	$20.33M	0.7%	$92.63	—	COM	74834L100
GLD	SPDR GOLD TR	24,344	$8.968M	0.3%	$120.11	—	GOLD SHS	78463V107
FAST	FASTENAL CO	901,600	$43.3M	1.4%	$31.61	—	COM	311900104
IQV	IQVIA HLDGS INC	64,000	$12.37M	0.4%	$212.77	—	COM	46266C105
ETN	EATON CORP PLC	18,256	$7.779M	0.3%	$92.76	—	SHS	G29183103
SNPS	SYNOPSYS INC	13,724	$6.122M	0.2%	$565.30	—	COM	871607107
JKHY	HENRY JACK & ASSOC INC	25,300	$3.485M	0.1%	$149.82	—	COM	426281101
ESAB	ESAB CORPORATION	171,530	$16.92M	0.6%	$119.15	—	COM	29605J106
HWM	HOWMET AEROSPACE INC	11,500	$3.092M	0.1%	$109.18	—	COM	443201108
GDX	VANECK ETF TRUST	23,075	$1.741M	0.1%	$39.97	—	GOLD MINERS ETF	92189F106
ALLE	ALLEGION PLC	76,000	$10.68M	0.4%	$102.12	—	ORD SHS	G0176J109
PR	PERMIAN RESOURCES CORP	120,500	$2.218M	0.1%	$15.78	—	CLASS A COM	71424F105
AWI	ARMSTRONG WORLD INDS INC NEW	78,000	$12.51M	0.4%	$70.77	—	COM	04247X102
MAS	MASCO CORP	12,500	$1.017M	0.0%	$63.31	—	COM	574599106
PAAS	PAN AMERN SILVER CORP	25,000	$1.12M	0.0%	$14.91	—	COM	697900108
AAPL	APPLE INC	6,500	$1.881M	0.1%	$110.70	—	COM	037833100
SBAC	SBA COMMUNICATIONS CORP	40,000	$7.058M	0.2%	$197.07	—	CL A	78410G104
PHR	PHREESIA INC	78,700	$810K	0.0%	$24.72	—	COM	71944F106
ORLY	OREILLY AUTOMOTIVE INC	665,000	$61.24M	2.0%	$86.09	—	COM	67103H107
ACGL	ARCH CAP GROUP LTD	130,000	$12.62M	0.4%	$92.50	—	ORD	G0450A105
FG	F&G ANNUITIES & LIFE INC	96,384	$2.563M	0.1%	$22.21	—	COMMON STOCK	30190A104
TEL	TE CONNECTIVITY PLC	13,200	$2.661M	0.1%	$200.30	—	ORD SHS	G87052109
HDB	HDFC BANK LTD	100,100	$2.586M	0.1%	$47.27	—	SPONSORED ADS	40415F101
PHM	PULTE GROUP INC	4,398	$603K	0.0%	$28.36	—	COM	745867101
GDXJ	VANECK ETF TRUST	3,360	$330K	0.0%	$120.04	—	JUNIOR GOLD MINE	92189F791
VWO	VANGUARD INTL EQUITY INDEX F	12,806	$764K	0.0%	$49.91	—	FTSE EMR MKT ETF	922042858
KR	KROGER CO	3,700	$205K	0.0%	$22.69	—	COM	501044101
V	VISA INC	1,470	$504K	0.0%	$133.68	—	COM CL A	92826C839
VRTX	VERTEX PHARMACEUTICALS INC	1,000	$497K	0.0%	$206.98	—	COM	92532F100
DE	DEERE & CO	550	$349K	0.0%	$388.70	—	COM	244199105
NSC	NORFOLK SOUTHN CORP	1,359	$428K	0.0%	$58.52	—	COM	655844108
WMT	WALMART INC	2,950	$334K	0.0%	$61.97	—	COM	931142103
MMM	3M CO	1,700	$275K	0.0%	$75.54	—	COM	88579Y101
SHOP	SHOPIFY INC	6,150	$702K	0.0%	$43.68	—	CL A SUB VTG SHS	82509L107
SYK	STRYKER CORPORATION	1,700	$535K	0.0%	$57.64	—	COM	863667101
EMR	EMERSON ELEC CO	1,700	$243K	0.0%	$99.38	—	COM	291011104
EQIX	EQUINIX INC	305	$318K	0.0%	$619.96	—	COM	29444U700
JNJ	JOHNSON & JOHNSON	1,963	$499K	0.0%	$108.01	—	COM	478160104
ROST	ROSS STORES INC	4,300	$915K	0.0%	$49.69	—	COM	778296103
CB	CHUBB LIMITED	1,000	$341K	0.0%	$119.71	—	COM	H1467J104
MSFT	MICROSOFT CORP	2,445	$912K	0.0%	$176.66	—	COM	594918104
GD	GENERAL DYNAMICS CORP	598	$212K	0.0%	$234.24	—	COM	369550108
DLO	DLOCAL LTD	207,200	$2.694M	0.1%	$12.71	—	CLASS A COM	G29018101