SCHWARTZ INVESTMENT COUNSEL INC Diversified Active

CIK: 0000909151 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 4, 2026

Total Value ($000): $2,861,229 (100.0% shares, 0.0% debt)

Holdings (133)

New Positions (5)

ACGL ARCH CAP GROUP LTD 0.3%

Value ($000) $9,592 Shares 100,000 Est. Cost $91.50 Unrealized 0.0%

ESAB ESAB CORPORATION 0.3%

Value ($000) $8,938 Shares 80,000 Est. Cost $114.35 Unrealized 0.0%

CSW CSW INDUSTRIALS INC 0.3%

Value ($000) $7,632 Shares 26,000 Est. Cost $266.28 Unrealized 0.0%

POOL POOL CORP 0.2%

Value ($000) $4,575 Shares 20,000 Est. Cost $259.46 Unrealized 0.0%

HNGE HINGE HEALTH INC 0.1%

Value ($000) $2,137 Shares 46,000 Est. Cost $48.16 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ACGL	ARCH CAP GROUP LTD	100,000	$9,592	0.3%	$91.50	0.0%	ORD	G0450A105
ESAB	ESAB CORPORATION	80,000	$8,938	0.3%	$114.35	0.0%	COM	29605J106
CSW	CSW INDUSTRIALS INC	26,000	$7,632	0.3%	$266.28	0.0%	COM	126402106
POOL	POOL CORP	20,000	$4,575	0.2%	$259.46	0.0%	COM	73278L105
HNGE	HINGE HEALTH INC	46,000	$2,137	0.1%	$48.16	0.0%	CL A	433313103

Increased Positions (25)

ALC ALCON INC 1.2%

Value ($000) $35,266 (+159.4%) Shares 447,483 (+145.2%) Est. Cost $71.77 Unrealized +7.3%

SN SHARKNINJA INC 0.7%

Value ($000) $19,661 (+110.1%) Shares 175,700 (+93.7%) Est. Cost $74.36 Unrealized +32.5%

FOUR SHIFT4 PMTS INC 0.6%

Value ($000) $18,053 (+86.6%) Shares 286,691 (+129.4%) Est. Cost $80.38 Unrealized -12.1%

WSO WATSCO INC 2.0%

Value ($000) $56,333 (+16.1%) Shares 167,185 (+39.3%) Est. Cost $374.03 Unrealized -4.5%

TPL TEXAS PACIFIC LAND CORPORATI 4.8%

Value ($000) $136,459 (-4.7%) Shares 475,104 (+209.7%) Est. Cost $256.92 Unrealized +18.7%

BRO BROWN & BROWN INC 1.5%

Value ($000) $44,265 (-11.4%) Shares 555,400 (+4.3%) Est. Cost $57.64 Unrealized +44.6%

TIC TIC SOLUTIONS INC 0.3%

Value ($000) $8,217 (+133.9%) Shares 812,777 (+207.9%) Est. Cost $11.22 Unrealized -0.8%

YETI YETI HLDGS INC 0.2%

Value ($000) $6,208 (+126.7%) Shares 140,550 (+70.3%) Est. Cost $42.56 Unrealized -9.6%

ZTS ZOETIS INC 1.2%

Value ($000) $33,594 (-8.2%) Shares 267,000 (+6.8%) Est. Cost $153.86 Unrealized -15.3%

ATR APTARGROUP INC 1.6%

Value ($000) $46,791 (-5.4%) Shares 383,660 (+3.7%) Est. Cost $126.60 Unrealized -2.9%

LB LANDBRIDGE COMPANY LLC 1.0%

Value ($000) $29,046 (-6.1%) Shares 592,891 (+2.3%) Est. Cost $41.37 Unrealized +40.6%

SLB SCHLUMBERGER LTD 0.4%

Value ($000) $12,562 (+15.2%) Shares 327,300 (+3.2%) Est. Cost $30.05 Unrealized +20.0%

TEL TE CONNECTIVITY PLC 0.1%

Value ($000) $2,844 (+82.5%) Shares 12,500 (+76.1%) Est. Cost $198.64 Unrealized +16.4%

FG F&G ANNUITIES & LIFE INC 0.1%

Value ($000) $4,112 (+36.4%) Shares 133,284 (+38.3%) Est. Cost $22.21 Unrealized +40.0%

APO APOLLO GLOBAL MGMT INC 0.2%

Value ($000) $4,552 (+26.7%) Shares 31,445 (+16.6%) Est. Cost $97.29 Unrealized +36.3%

WBI WATERBRIDGE INFRASTRUCTURE L 1.0%

Value ($000) $27,714 (+2.4%) Shares 1,385,029 (+29.1%) Est. Cost $23.39 Unrealized -0.8%

GFL GFL ENVIRONMENTAL INC 0.3%

Value ($000) $8,422 (-5.1%) Shares 196,093 (+4.7%) Est. Cost $31.77 Unrealized +40.6%

BNT BROOKFIELD WEALTH SOL LTD 0.1%

Value ($000) $4,016 (+10.2%) Shares 87,398 (+64.3%) Est. Cost $36.90 Unrealized +23.5%

BN BROOKFIELD CORP 0.8%

Value ($000) $21,920 (+1.6%) Shares 477,660 (+51.9%) Est. Cost $30.28 Unrealized +50.4%

BAM BROOKFIELD ASSET MANAGMT LTD 0.1%

Value ($000) $4,199 (+5.8%) Shares 80,154 (+15.0%) Est. Cost $55.28 Unrealized -3.3%

PHR PHREESIA INC 0.0%

Value ($000) $1,332 (+15.5%) Shares 78,700 (+60.6%) Est. Cost $24.72 Unrealized -16.5%

KARO KAROOOOO LTD 0.1%

Value ($000) $3,566 (-2.1%) Shares 78,365 (+22.9%) Est. Cost $33.19 Unrealized +41.2%

BLDR BUILDERS FIRSTSOURCE INC 0.3%

Value ($000) $9,857 (-0.6%) Shares 95,800 (+17.1%) Est. Cost $116.64 Unrealized -3.7%

ICE INTERCONTINENTAL EXCHANGE IN 0.5%

Value ($000) $15,386 (+0.4%) Shares 95,000 (+4.4%) Est. Cost $116.14 Unrealized +34.5%

VWO VANGUARD INTL EQUITY INDEX F 0.0%

Value ($000) $688 (+1.0%) Shares 12,792 (+1.8%) Est. Cost $49.91 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ALC	ALCON INC	447,483 (+145.2%)	$35,266 (+159.4%)	1.2%	$71.77	+7.3%	ORD SHS	H01301128
SN	SHARKNINJA INC	175,700 (+93.7%)	$19,661 (+110.1%)	0.7%	$74.36	+32.5%	COM SHS	G8068L108
FOUR	SHIFT4 PMTS INC	286,691 (+129.4%)	$18,053 (+86.6%)	0.6%	$80.38	-12.1%	CL A	82452J109
WSO	WATSCO INC	167,185 (+39.3%)	$56,333 (+16.1%)	2.0%	$374.03	-4.5%	COM	942622200
TPL	TEXAS PACIFIC LAND CORPORATI	475,104 (+209.7%)	$136,459 (-4.7%)	4.8%	$256.92	+18.7%	COM	88262P102
BRO	BROWN & BROWN INC	555,400 (+4.3%)	$44,265 (-11.4%)	1.5%	$57.64	+44.6%	COM	115236101
TIC	TIC SOLUTIONS INC	812,777 (+207.9%)	$8,217 (+133.9%)	0.3%	$11.22	-0.8%	COM	00510N102
YETI	YETI HLDGS INC	140,550 (+70.3%)	$6,208 (+126.7%)	0.2%	$42.56	-9.6%	COM	98585X104
ZTS	ZOETIS INC	267,000 (+6.8%)	$33,594 (-8.2%)	1.2%	$153.86	-15.3%	CL A	98978V103
ATR	APTARGROUP INC	383,660 (+3.7%)	$46,791 (-5.4%)	1.6%	$126.60	-2.9%	COM	038336103
LB	LANDBRIDGE COMPANY LLC	592,891 (+2.3%)	$29,046 (-6.1%)	1.0%	$41.37	+40.6%	CL A	514952100
SLB	SCHLUMBERGER LTD	327,300 (+3.2%)	$12,562 (+15.2%)	0.4%	$30.05	+20.0%	COM STK	806857108
TEL	TE CONNECTIVITY PLC	12,500 (+76.1%)	$2,844 (+82.5%)	0.1%	$198.64	+16.4%	ORD SHS	G87052109
FG	F&G ANNUITIES & LIFE INC	133,284 (+38.3%)	$4,112 (+36.4%)	0.1%	$22.21	+40.0%	COMMON STOCK	30190A104
APO	APOLLO GLOBAL MGMT INC	31,445 (+16.6%)	$4,552 (+26.7%)	0.2%	$97.29	+36.3%	COM	03769M106
WBI	WATERBRIDGE INFRASTRUCTURE L	1,385,029 (+29.1%)	$27,714 (+2.4%)	1.0%	$23.39	-0.8%	CL A SHS REPSTG	940923105
GFL	GFL ENVIRONMENTAL INC	196,093 (+4.7%)	$8,422 (-5.1%)	0.3%	$31.77	+40.6%	SUB VTG SHS	36168Q104
BNT	BROOKFIELD WEALTH SOL LTD	87,398 (+64.3%)	$4,016 (+10.2%)	0.1%	$36.90	+23.5%	CL A EXCHANGEAB	G17434104
BN	BROOKFIELD CORP	477,660 (+51.9%)	$21,920 (+1.6%)	0.8%	$30.28	+50.4%	CL A LTD VT SH	11271J107
BAM	BROOKFIELD ASSET MANAGMT LTD	80,154 (+15.0%)	$4,199 (+5.8%)	0.1%	$55.28	-3.3%	CL A LMT VTG SHS	113004105
PHR	PHREESIA INC	78,700 (+60.6%)	$1,332 (+15.5%)	0.0%	$24.72	-16.5%	COM	71944F106
KARO	KAROOOOO LTD	78,365 (+22.9%)	$3,566 (-2.1%)	0.1%	$33.19	+41.2%	ORD SHS	Y4600W108
BLDR	BUILDERS FIRSTSOURCE INC	95,800 (+17.1%)	$9,857 (-0.6%)	0.3%	$116.64	-3.7%	COM	12008R107
ICE	INTERCONTINENTAL EXCHANGE IN	95,000 (+4.4%)	$15,386 (+0.4%)	0.5%	$116.14	+34.5%	COM	45866F104
VWO	VANGUARD INTL EQUITY INDEX F	12,792 (+1.8%)	$688 (+1.0%)	0.0%	$49.91	—	FTSE EMR MKT ETF	922042858

Exited Positions (2)

SMPL SIMPLY GOOD FOODS CO 0.4%

Value ($000) $11,775 Shares 474,400 Est. Cost $34.45 Unrealized -39.6%

— SAPIENS INTL CORP N V 0.0%

Value ($000) $1,129 Shares 26,252 Est. Cost $29.69 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SMPL	SIMPLY GOOD FOODS CO	474,400	$11,775	0.4%	$34.45	-39.6%	—	82900L102
—	SAPIENS INTL CORP N V	26,252	$1,129	0.0%	$29.69	—	—	G7T16G103

Decreased Positions (28)

CB CHUBB LIMITED 0.0%

Value ($000) $406 (-99.3%) Shares 1,300 (-99.4%) Est. Cost $119.71 Unrealized +144.3%

CHE CHEMED CORP NEW 1.0%

Value ($000) $27,697 (-44.3%) Shares 64,734 (-41.7%) Est. Cost $495.79 Unrealized -12.3%

CPRT COPART INC 0.8%

Value ($000) $21,838 (-49.6%) Shares 557,800 (-42.1%) Est. Cost $31.67 Unrealized +30.9%

CDW CDW CORP 0.6%

Value ($000) $17,706 (-51.5%) Shares 130,000 (-43.3%) Est. Cost $182.29 Unrealized -19.3%

XPEL XPEL INC 1.5%

Value ($000) $43,322 (+43.5%) Shares 867,999 (-4.9%) Est. Cost $43.77 Unrealized -4.5%

SNPS SYNOPSYS INC 0.2%

Value ($000) $6,525 (-64.9%) Shares 13,892 (-63.1%) Est. Cost $565.30 Unrealized -21.4%

AOS SMITH A O CORP 1.2%

Value ($000) $34,465 (-20.5%) Shares 515,333 (-12.7%) Est. Cost $59.30 Unrealized +13.7%

SBAC SBA COMMUNICATIONS CORP NEW 1.1%

Value ($000) $31,723 (-21.5%) Shares 164,000 (-21.5%) Est. Cost $197.07 Unrealized -2.2%

GPC GENUINE PARTS CO 1.7%

Value ($000) $48,477 (-13.5%) Shares 394,250 (-2.5%) Est. Cost $98.15 Unrealized +31.1%

RMBS RAMBUS INC DEL 0.6%

Value ($000) $16,571 (-31.0%) Shares 180,337 (-21.7%) Est. Cost $58.74 Unrealized +67.5%

NVDA NVIDIA CORP 3.6%

Value ($000) $102,575 (-3.6%) Shares 550,000 (-3.5%) Est. Cost $93.31 Unrealized +99.5%

COP CONOCOPHILLIPS 0.0%

Value ($000) $730 (-79.6%) Shares 7,800 (-79.4%) Est. Cost $96.99 Unrealized -7.2%

APG API GROUP CORP 3.8%

Value ($000) $108,836 (+2.3%) Shares 2,844,652 (-8.1%) Est. Cost $21.09 Unrealized +75.3%

DSGR DISTRIBUTION SOLUTIONS GRP I 0.3%

Value ($000) $8,560 (-19.9%) Shares 312,532 (-12.1%) Est. Cost $31.39 Unrealized -10.4%

MAS MASCO CORP 0.1%

Value ($000) $1,587 (-54.9%) Shares 25,000 (-50.0%) Est. Cost $63.31 Unrealized +2.3%

JOE ST JOE CO 0.6%

Value ($000) $18,428 (+11.0%) Shares 310,400 (-7.5%) Est. Cost $46.27 Unrealized +21.0%

DBRG DIGITALBRIDGE GROUP INC 0.3%

Value ($000) $8,864 (+26.0%) Shares 577,805 (-3.9%) Est. Cost $14.94 Unrealized -19.6%

PBT PERMIAN BASIN RTY TR 0.6%

Value ($000) $16,404 (-8.8%) Shares 967,197 (-1.8%) Est. Cost $16.56 Unrealized —

CCEP COCA COLA EUROPEAN PARTNERS 1.6%

Value ($000) $44,665 (-3.3%) Shares 492,450 (-3.7%) Est. Cost $44.99 Unrealized +99.2%

HAE HAEMONETICS CORP 0.2%

Value ($000) $5,210 (-22.1%) Shares 65,000 (-52.6%) Est. Cost $70.25 Unrealized -4.4%

OXY OCCIDENTAL PETE CORP 0.2%

Value ($000) $4,369 (-24.7%) Shares 106,250 (-13.4%) Est. Cost $53.19 Unrealized -21.9%

MIR MIRION TECHNOLOGIES INC 0.7%

Value ($000) $18,603 (-6.4%) Shares 794,300 (-7.0%) Est. Cost $8.08 Unrealized +208.6%

XOM EXXON MOBIL CORP 0.4%

Value ($000) $10,696 (-10.1%) Shares 88,878 (-15.8%) Est. Cost $92.04 Unrealized +25.5%

WU WESTERN UN CO 0.3%

Value ($000) $9,310 (+13.7%) Shares 1,000,000 (-2.4%) Est. Cost $10.58 Unrealized —

PAAS PAN AMERN SILVER CORP 0.1%

Value ($000) $2,591 (+15.3%) Shares 50,000 (-13.8%) Est. Cost $14.91 Unrealized +180.8%

MSFT MICROSOFT CORP 0.0%

Value ($000) $1,424 (-9.7%) Shares 2,945 (-3.3%) Est. Cost $176.66 Unrealized +183.4%

MMM 3M CO 0.0%

Value ($000) $272 (-12.3%) Shares 1,700 (-15.0%) Est. Cost $75.54 Unrealized +116.0%

BSV VANGUARD BD INDEX FDS 0.0%

Value ($000) $1,182 (-3.0%) Shares 15,000 (-2.9%) Est. Cost $82.63 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CB	CHUBB LIMITED	1,300 (-99.4%)	$406 (-99.3%)	0.0%	$119.71	+144.3%	COM	H1467J104
CHE	CHEMED CORP NEW	64,734 (-41.7%)	$27,697 (-44.3%)	1.0%	$495.79	-12.3%	COM	16359R103
CPRT	COPART INC	557,800 (-42.1%)	$21,838 (-49.6%)	0.8%	$31.67	+30.9%	COM	217204106
CDW	CDW CORP	130,000 (-43.3%)	$17,706 (-51.5%)	0.6%	$182.29	-19.3%	COM	12514G108
XPEL	XPEL INC	867,999 (-4.9%)	$43,322 (+43.5%)	1.5%	$43.77	-4.5%	COM	98379L100
SNPS	SYNOPSYS INC	13,892 (-63.1%)	$6,525 (-64.9%)	0.2%	$565.30	-21.4%	COM	871607107
AOS	SMITH A O CORP	515,333 (-12.7%)	$34,465 (-20.5%)	1.2%	$59.30	+13.7%	COM	831865209
SBAC	SBA COMMUNICATIONS CORP NEW	164,000 (-21.5%)	$31,723 (-21.5%)	1.1%	$197.07	-2.2%	CL A	78410G104
GPC	GENUINE PARTS CO	394,250 (-2.5%)	$48,477 (-13.5%)	1.7%	$98.15	+31.1%	COM	372460105
RMBS	RAMBUS INC DEL	180,337 (-21.7%)	$16,571 (-31.0%)	0.6%	$58.74	+67.5%	COM	750917106
NVDA	NVIDIA CORP	550,000 (-3.5%)	$102,575 (-3.6%)	3.6%	$93.31	+99.5%	COM	67066G104
COP	CONOCOPHILLIPS	7,800 (-79.4%)	$730 (-79.6%)	0.0%	$96.99	-7.2%	COM	20825C104
APG	API GROUP CORP	2,844,652 (-8.1%)	$108,836 (+2.3%)	3.8%	$21.09	+75.3%	COM STK	00187Y100
DSGR	DISTRIBUTION SOLUTIONS GRP I	312,532 (-12.1%)	$8,560 (-19.9%)	0.3%	$31.39	-10.4%	COM	520776105
MAS	MASCO CORP	25,000 (-50.0%)	$1,587 (-54.9%)	0.1%	$63.31	+2.3%	COM	574599106
JOE	ST JOE CO	310,400 (-7.5%)	$18,428 (+11.0%)	0.6%	$46.27	+21.0%	COM	790148100
DBRG	DIGITALBRIDGE GROUP INC	577,805 (-3.9%)	$8,864 (+26.0%)	0.3%	$14.94	-19.6%	CL A COM	25401T603
PBT	PERMIAN BASIN RTY TR	967,197 (-1.8%)	$16,404 (-8.8%)	0.6%	$16.56	—	UNIT BEN INT	714236106
CCEP	COCA COLA EUROPEAN PARTNERS	492,450 (-3.7%)	$44,665 (-3.3%)	1.6%	$44.99	+99.2%	SHS	G25839104
HAE	HAEMONETICS CORP	65,000 (-52.6%)	$5,210 (-22.1%)	0.2%	$70.25	-4.4%	COM	405024100
OXY	OCCIDENTAL PETE CORP	106,250 (-13.4%)	$4,369 (-24.7%)	0.2%	$53.19	-21.9%	COM	674599105
MIR	MIRION TECHNOLOGIES INC	794,300 (-7.0%)	$18,603 (-6.4%)	0.7%	$8.08	+208.6%	COM CL A	60471A101
XOM	EXXON MOBIL CORP	88,878 (-15.8%)	$10,696 (-10.1%)	0.4%	$92.04	+25.5%	COM	30231G102
WU	WESTERN UN CO	1,000,000 (-2.4%)	$9,310 (+13.7%)	0.3%	$10.58	—	COM	959802109
PAAS	PAN AMERN SILVER CORP	50,000 (-13.8%)	$2,591 (+15.3%)	0.1%	$14.91	+180.8%	COM	697900108
MSFT	MICROSOFT CORP	2,945 (-3.3%)	$1,424 (-9.7%)	0.0%	$176.66	+183.4%	COM	594918104
MMM	3M CO	1,700 (-15.0%)	$272 (-12.3%)	0.0%	$75.54	+116.0%	COM	88579Y101
BSV	VANGUARD BD INDEX FDS	15,000 (-2.9%)	$1,182 (-3.0%)	0.0%	$82.63	—	SHORT TRM BOND	921937827

Unchanged Positions (75)

TSEM TOWER SEMICONDUCTOR LTD 1.1%

Value ($000) $30,529 Shares 260,000 Est. Cost $54.61 Unrealized +76.4%

ORLY O REILLY AUTOMOTIVE INC NEW 2.1%

Value ($000) $60,655 Shares 665,000 Est. Cost $86.09 Unrealized +13.5%

ROP ROPER TECHNOLOGIES INC 3.0%

Value ($000) $85,331 Shares 191,700 Est. Cost $397.55 Unrealized +16.3%

FAST FASTENAL CO 1.3%

Value ($000) $36,181 Shares 901,600 Est. Cost $31.61 Unrealized +32.9%

SPGI S&P GLOBAL INC 3.0%

Value ($000) $84,947 Shares 162,550 Est. Cost $238.80 Unrealized +107.0%

ACN ACCENTURE PLC IRELAND 2.2%

Value ($000) $63,574 Shares 236,950 Est. Cost $169.02 Unrealized +50.3%

TXN TEXAS INSTRS INC 3.0%

Value ($000) $84,819 Shares 488,900 Est. Cost $96.04 Unrealized +77.8%

MCO MOODYS CORP 2.1%

Value ($000) $60,382 Shares 118,200 Est. Cost $113.55 Unrealized +329.2%

BR BROADRIDGE FINL SOLUTIONS IN 1.9%

Value ($000) $55,201 Shares 247,350 Est. Cost $112.08 Unrealized +102.8%

FNF FIDELITY NATIONAL FINANCIAL 1.2%

Value ($000) $33,573 Shares 615,000 Est. Cost $28.91 Unrealized +89.4%

TSM TAIWAN SEMICONDUCTOR MFG LTD 1.5%

Value ($000) $43,867 Shares 144,350 Est. Cost $171.46 Unrealized —

TFC TRUIST FINL CORP 1.4%

Value ($000) $41,469 Shares 842,695 Est. Cost $37.50 Unrealized +22.1%

LOW LOWES COS INC 2.3%

Value ($000) $64,836 Shares 268,850 Est. Cost $65.56 Unrealized +265.8%

TSCO TRACTOR SUPPLY CO 0.7%

Value ($000) $19,879 Shares 397,500 Est. Cost $47.06 Unrealized +14.1%

WINA WINMARK CORP 0.4%

Value ($000) $10,771 Shares 26,600 Est. Cost $223.97 Unrealized +91.0%

TJX TJX COS INC NEW 1.4%

Value ($000) $40,438 Shares 263,250 Est. Cost $32.11 Unrealized +359.9%

SNX TD SYNNEX CORPORATION 0.9%

Value ($000) $25,464 Shares 169,500 Est. Cost $107.38 Unrealized +42.3%

IQV IQVIA HLDGS INC 0.5%

Value ($000) $14,426 Shares 64,000 Est. Cost $212.77 Unrealized +2.3%

FNV FRANCO NEVADA CORP 0.9%

Value ($000) $26,055 Shares 125,700 Est. Cost $128.50 Unrealized +57.8%

FANG DIAMONDBACK ENERGY INC 1.3%

Value ($000) $36,876 Shares 245,300 Est. Cost $154.13 Unrealized -4.6%

ENTG ENTEGRIS INC 0.6%

Value ($000) $16,850 Shares 200,000 Est. Cost $84.89 Unrealized +2.2%

HIFS HINGHAM INSTN SVGS MASS 0.8%

Value ($000) $23,025 Shares 81,087 Est. Cost $234.98 Unrealized +20.9%

DGX QUEST DIAGNOSTICS INC 0.6%

Value ($000) $16,642 Shares 95,900 Est. Cost $92.63 Unrealized +96.6%

LHX L3HARRIS TECHNOLOGIES INC 1.3%

Value ($000) $38,450 Shares 130,975 Est. Cost $206.14 Unrealized +39.9%

EXE EXPAND ENERGY CORPORATION 1.4%

Value ($000) $40,880 Shares 370,420 Est. Cost $71.77 Unrealized +54.2%

BL BLACKLINE INC 1.3%

Value ($000) $38,150 Shares 690,000 Est. Cost $62.27 Unrealized -11.5%

VRSN VERISIGN INC 0.3%

Value ($000) $9,839 Shares 40,500 Est. Cost $189.78 Unrealized +32.2%

ALLE ALLEGION PLC 0.4%

Value ($000) $12,101 Shares 76,000 Est. Cost $102.12 Unrealized +63.2%

WPM WHEATON PRECIOUS METALS CORP 1.1%

Value ($000) $31,848 Shares 271,000 Est. Cost $46.44 Unrealized +130.6%

BATRK ATLANTA BRAVES HLDGS INC 0.7%

Value ($000) $21,392 Shares 542,264 Est. Cost $38.55 Unrealized +2.5%

STNE STONECO LTD 0.1%

Value ($000) $3,792 Shares 256,400 Est. Cost $11.43 Unrealized —

ETN EATON CORP PLC 0.2%

Value ($000) $5,926 Shares 18,606 Est. Cost $92.76 Unrealized +282.0%

GLD SPDR GOLD TRUST 0.3%

Value ($000) $9,648 Shares 24,344 Est. Cost $120.11 Unrealized —

LMT LOCKHEED MARTIN CORP 1.0%

Value ($000) $29,988 Shares 62,000 Est. Cost $317.29 Unrealized +50.1%

JKHY HENRY JACK & ASSOC INC 0.2%

Value ($000) $4,617 Shares 25,300 Est. Cost $149.82 Unrealized +11.0%

CSL CARLISLE COS INC 1.0%

Value ($000) $28,787 Shares 90,000 Est. Cost $231.61 Unrealized +39.3%

CVX CHEVRON CORP NEW 1.4%

Value ($000) $40,856 Shares 268,067 Est. Cost $79.70 Unrealized +90.0%

HEI/A HEICO CORP NEW 4.0%

Value ($000) $115,035 Shares 455,710 Est. Cost $67.44 Unrealized +266.2%

FIX COMFORT SYS USA INC 0.2%

Value ($000) $6,160 Shares 6,600 Est. Cost $365.93 Unrealized +152.2%

STVN STEVANATO GROUP S P A 0.1%

Value ($000) $2,541 Shares 126,281 Est. Cost $17.66 Unrealized +31.5%

SIMO SILICON MOTION TECHNOLOGY CO 0.7%

Value ($000) $20,394 Shares 220,000 Est. Cost $73.75 Unrealized —

MA MASTERCARD INC 4.5%

Value ($000) $129,889 Shares 227,524 Est. Cost $183.68 Unrealized +204.3%

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

Value ($000) $1,460 Shares 30,000 Est. Cost $34.40 Unrealized —

AWI ARMSTRONG WORLD INDS INC NEW 0.5%

Value ($000) $14,906 Shares 78,000 Est. Cost $70.77 Unrealized +169.5%

FSV FIRSTSERVICE CORP NEW 0.0%

Value ($000) $1,166 Shares 7,500 Est. Cost $95.28 Unrealized +70.5%

HDB HDFC BANK LTD 0.1%

Value ($000) $3,658 Shares 100,100 Est. Cost $47.27 Unrealized —

REGN REGENERON PHARMACEUTICALS 0.0%

Value ($000) $849 Shares 1,100 Est. Cost $643.32 Unrealized +5.5%

BKNG BOOKING HLDGS INC 0.7%

Value ($000) $21,421 Shares 4,000 Est. Cost $1909.04 Unrealized +169.1%

GDX VANECK VECTORS ETF TR 0.1%

Value ($000) $1,600 Shares 18,650 Est. Cost $27.68 Unrealized —

NU NU HLDGS LTD 0.1%

Value ($000) $3,643 Shares 217,600 Est. Cost $13.42 Unrealized +19.7%

ROST ROSS STORES INC 0.0%

Value ($000) $847 Shares 4,700 Est. Cost $49.69 Unrealized +235.3%

SBS COMPANHIA DE SANEAMENTO BASI 0.1%

Value ($000) $2,917 Shares 122,300 Est. Cost $17.35 Unrealized —

AAPL APPLE INC 0.1%

Value ($000) $1,903 Shares 7,000 Est. Cost $110.70 Unrealized +142.4%

HWM HOWMET AEROSPACE INC 0.1%

Value ($000) $2,358 Shares 11,500 Est. Cost $109.18 Unrealized +82.3%

ULTA ULTA BEAUTY INC 0.0%

Value ($000) $983 Shares 1,624 Est. Cost $411.23 Unrealized +33.7%

SLAB SILICON LABORATORIES INC 0.9%

Value ($000) $25,198 Shares 192,790 Est. Cost $130.54 Unrealized +0.7%

SHOP SHOPIFY INC 0.0%

Value ($000) $990 Shares 6,150 Est. Cost $43.68 Unrealized +267.6%

PHM PULTE GROUP INC 0.0%

Value ($000) $516 Shares 4,398 Est. Cost $28.36 Unrealized +331.8%

VRTX VERTEX PHARMACEUTICALS INC 0.0%

Value ($000) $453 Shares 1,000 Est. Cost $206.98 Unrealized +108.2%

JNJ JOHNSON & JOHNSON 0.0%

Value ($000) $468 Shares 2,263 Est. Cost $108.01 Unrealized +82.4%

SYK STRYKER CORP 0.0%

Value ($000) $668 Shares 1,900 Est. Cost $57.64 Unrealized +530.5%

DLO DLOCAL LTD 0.1%

Value ($000) $2,930 Shares 207,200 Est. Cost $12.71 Unrealized +11.0%

COF CAPITAL ONE FINL CORP 0.0%

Value ($000) $230 Shares 950 Est. Cost $185.05 Unrealized +20.1%

PAYX PAYCHEX INC 0.0%

Value ($000) $211 Shares 1,879 Est. Cost $25.09 Unrealized +364.6%

WMT WALMART INC 0.0%

Value ($000) $340 Shares 3,050 Est. Cost $61.97 Unrealized +73.0%

KR KROGER CO 0.0%

Value ($000) $231 Shares 3,700 Est. Cost $22.69 Unrealized +187.4%

NSC NORFOLK SOUTHERN CORP 0.0%

Value ($000) $392 Shares 1,359 Est. Cost $58.52 Unrealized +393.2%

V VISA INC 0.0%

Value ($000) $516 Shares 1,470 Est. Cost $133.68 Unrealized +154.6%

GGG GRACO INC 0.0%

Value ($000) $281 Shares 3,424 Est. Cost $33.56 Unrealized +144.2%

EQIX EQUINIX INC 0.0%

Value ($000) $310 Shares 405 Est. Cost $619.96 Unrealized +26.0%

QCOM QUALCOMM INC 0.0%

Value ($000) $228 Shares 1,332 Est. Cost $148.53 Unrealized +15.0%

DE DEERE & CO 0.0%

Value ($000) $256 Shares 550 Est. Cost $388.70 Unrealized +20.3%

GD GENERAL DYNAMICS CORP 0.0%

Value ($000) $269 Shares 798 Est. Cost $234.24 Unrealized +45.5%

EMR EMERSON ELEC CO 0.0%

Value ($000) $265 Shares 2,000 Est. Cost $99.38 Unrealized +33.2%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value ($000) $1,714 Shares 3,410 Est. Cost $123.76 Unrealized +302.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSEM	TOWER SEMICONDUCTOR LTD	260,000	$30,529	1.1%	$54.61	+76.4%	SHS NEW	M87915274
ORLY	O REILLY AUTOMOTIVE INC NEW	665,000	$60,655	2.1%	$86.09	+13.5%	COM	67103H107
ROP	ROPER TECHNOLOGIES INC	191,700	$85,331	3.0%	$397.55	+16.3%	COM	776696106
FAST	FASTENAL CO	901,600	$36,181	1.3%	$31.61	+32.9%	COM	311900104
SPGI	S&P GLOBAL INC	162,550	$84,947	3.0%	$238.80	+107.0%	COM	78409V104
ACN	ACCENTURE PLC IRELAND	236,950	$63,574	2.2%	$169.02	+50.3%	SHS CL A	G1151C101
TXN	TEXAS INSTRS INC	488,900	$84,819	3.0%	$96.04	+77.8%	COM	882508104
MCO	MOODYS CORP	118,200	$60,382	2.1%	$113.55	+329.2%	COM	615369105
BR	BROADRIDGE FINL SOLUTIONS IN	247,350	$55,201	1.9%	$112.08	+102.8%	COM	11133T103
FNF	FIDELITY NATIONAL FINANCIAL	615,000	$33,573	1.2%	$28.91	+89.4%	FNF GROUP COM	31620R303
TSM	TAIWAN SEMICONDUCTOR MFG LTD	144,350	$43,867	1.5%	$171.46	—	SPONSORED ADR	874039100
TFC	TRUIST FINL CORP	842,695	$41,469	1.4%	$37.50	+22.1%	COM	89832Q109
LOW	LOWES COS INC	268,850	$64,836	2.3%	$65.56	+265.8%	COM	548661107
TSCO	TRACTOR SUPPLY CO	397,500	$19,879	0.7%	$47.06	+14.1%	COM	892356106
WINA	WINMARK CORP	26,600	$10,771	0.4%	$223.97	+91.0%	COM	974250102
TJX	TJX COS INC NEW	263,250	$40,438	1.4%	$32.11	+359.9%	COM	872540109
SNX	TD SYNNEX CORPORATION	169,500	$25,464	0.9%	$107.38	+42.3%	COM	87162W100
IQV	IQVIA HLDGS INC	64,000	$14,426	0.5%	$212.77	+2.3%	COM	46266C105
FNV	FRANCO NEVADA CORP	125,700	$26,055	0.9%	$128.50	+57.8%	COM	351858105
FANG	DIAMONDBACK ENERGY INC	245,300	$36,876	1.3%	$154.13	-4.6%	COM	25278X109
ENTG	ENTEGRIS INC	200,000	$16,850	0.6%	$84.89	+2.2%	COM	29362U104
HIFS	HINGHAM INSTN SVGS MASS	81,087	$23,025	0.8%	$234.98	+20.9%	COM	433323102
DGX	QUEST DIAGNOSTICS INC	95,900	$16,642	0.6%	$92.63	+96.6%	COM	74834L100
LHX	L3HARRIS TECHNOLOGIES INC	130,975	$38,450	1.3%	$206.14	+39.9%	COM	502431109
EXE	EXPAND ENERGY CORPORATION	370,420	$40,880	1.4%	$71.77	+54.2%	COM	165167735
BL	BLACKLINE INC	690,000	$38,150	1.3%	$62.27	-11.5%	COM	09239B109
VRSN	VERISIGN INC	40,500	$9,839	0.3%	$189.78	+32.2%	COM	92343E102
ALLE	ALLEGION PLC	76,000	$12,101	0.4%	$102.12	+63.2%	ORD SHS	G0176J109
WPM	WHEATON PRECIOUS METALS CORP	271,000	$31,848	1.1%	$46.44	+130.6%	COM	962879102
BATRK	ATLANTA BRAVES HLDGS INC	542,264	$21,392	0.7%	$38.55	+2.5%	COM SER C	047726302
STNE	STONECO LTD	256,400	$3,792	0.1%	$11.43	—	COM CL A	G85158106
ETN	EATON CORP PLC	18,606	$5,926	0.2%	$92.76	+282.0%	SHS	G29183103
GLD	SPDR GOLD TRUST	24,344	$9,648	0.3%	$120.11	—	GOLD SHS	78463V107
LMT	LOCKHEED MARTIN CORP	62,000	$29,988	1.0%	$317.29	+50.1%	COM	539830109
JKHY	HENRY JACK & ASSOC INC	25,300	$4,617	0.2%	$149.82	+11.0%	COM	426281101
CSL	CARLISLE COS INC	90,000	$28,787	1.0%	$231.61	+39.3%	COM	142339100
CVX	CHEVRON CORP NEW	268,067	$40,856	1.4%	$79.70	+90.0%	COM	166764100
HEI/A	HEICO CORP NEW	455,710	$115,035	4.0%	$67.44	+266.2%	CL A	422806208
FIX	COMFORT SYS USA INC	6,600	$6,160	0.2%	$365.93	+152.2%	COM	199908104
STVN	STEVANATO GROUP S P A	126,281	$2,541	0.1%	$17.66	+31.5%	ORD SHS	T9224W109
SIMO	SILICON MOTION TECHNOLOGY CO	220,000	$20,394	0.7%	$73.75	—	SPONSORED ADR	82706C108
MA	MASTERCARD INC	227,524	$129,889	4.5%	$183.68	+204.3%	CL A	57636Q104
VIST	VISTA ENERGY S.A.B. DE C.V.	30,000	$1,460	0.1%	$34.40	—	SPONSORED ADS	92837L109
AWI	ARMSTRONG WORLD INDS INC NEW	78,000	$14,906	0.5%	$70.77	+169.5%	COM	04247X102
FSV	FIRSTSERVICE CORP NEW	7,500	$1,166	0.0%	$95.28	+70.5%	COM	33767E202
HDB	HDFC BANK LTD	100,100	$3,658	0.1%	$47.27	—	SPONSORED ADR	40415F101
REGN	REGENERON PHARMACEUTICALS	1,100	$849	0.0%	$643.32	+5.5%	COM	75886F107
BKNG	BOOKING HLDGS INC	4,000	$21,421	0.7%	$1909.04	+169.1%	COM	09857L108
GDX	VANECK VECTORS ETF TR	18,650	$1,600	0.1%	$27.68	—	GOLD MINERS ETF	92189F106
NU	NU HLDGS LTD	217,600	$3,643	0.1%	$13.42	+19.7%	ORD SHS CL A	G6683N103
ROST	ROSS STORES INC	4,700	$847	0.0%	$49.69	+235.3%	COM	778296103
SBS	COMPANHIA DE SANEAMENTO BASI	122,300	$2,917	0.1%	$17.35	—	SPONSORED ADR	20441A102
AAPL	APPLE INC	7,000	$1,903	0.1%	$110.70	+142.4%	COM	037833100
HWM	HOWMET AEROSPACE INC	11,500	$2,358	0.1%	$109.18	+82.3%	COM	443201108
ULTA	ULTA BEAUTY INC	1,624	$983	0.0%	$411.23	+33.7%	COM	90384S303
SLAB	SILICON LABORATORIES INC	192,790	$25,198	0.9%	$130.54	+0.7%	COM	826919102
SHOP	SHOPIFY INC	6,150	$990	0.0%	$43.68	+267.6%	CL A	82509L107
PHM	PULTE GROUP INC	4,398	$516	0.0%	$28.36	+331.8%	COM	745867101
VRTX	VERTEX PHARMACEUTICALS INC	1,000	$453	0.0%	$206.98	+108.2%	COM	92532F100
JNJ	JOHNSON & JOHNSON	2,263	$468	0.0%	$108.01	+82.4%	COM	478160104
SYK	STRYKER CORP	1,900	$668	0.0%	$57.64	+530.5%	COM	863667101
DLO	DLOCAL LTD	207,200	$2,930	0.1%	$12.71	+11.0%	CLASS A COM	G29018101
COF	CAPITAL ONE FINL CORP	950	$230	0.0%	$185.05	+20.1%	COM	14040H105
PAYX	PAYCHEX INC	1,879	$211	0.0%	$25.09	+364.6%	COM	704326107
WMT	WALMART INC	3,050	$340	0.0%	$61.97	+73.0%	COM	931142103
KR	KROGER CO	3,700	$231	0.0%	$22.69	+187.4%	COM	501044101
NSC	NORFOLK SOUTHERN CORP	1,359	$392	0.0%	$58.52	+393.2%	COM	655844108
V	VISA INC	1,470	$516	0.0%	$133.68	+154.6%	COM CL A	92826C839
GGG	GRACO INC	3,424	$281	0.0%	$33.56	+144.2%	COM	384109104
EQIX	EQUINIX INC	405	$310	0.0%	$619.96	+26.0%	COM	29444U700
QCOM	QUALCOMM INC	1,332	$228	0.0%	$148.53	+15.0%	COM	747525103
DE	DEERE & CO	550	$256	0.0%	$388.70	+20.3%	COM	244199105
GD	GENERAL DYNAMICS CORP	798	$269	0.0%	$234.24	+45.5%	COM	369550108
EMR	EMERSON ELEC CO	2,000	$265	0.0%	$99.38	+33.2%	COM	291011104
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,410	$1,714	0.1%	$123.76	+302.0%	CL B NEW	084670702