Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	SAIA INC	64,817	$22.77M	0.4%	$351.28	—	COM	78709y105
VSEC	VSE CORP	77,243	$14.24M	0.3%	$207.99	0.0%	COM	918284100
PDFS	PDF SOLUTIONS INC	352,960	$11.55M	0.2%	$32.43	0.0%	COM	693282105
—	WARBY PARKER INC CL A	528,128	$11.13M	0.2%	$21.07	—	COM	93403j106
RMBS	RAMBUS INC	101,865	$8.763M	0.2%	$104.73	0.0%	COM	750917106
WING	WINGSTOP INC.	23,498	$3.641M	0.1%	$264.51	0.0%	COM	974155103
BHP	BHP GROUP LTD ADR	17,511	$1.274M	0.0%	$72.74	—	COM	088606108
WSM	WILLIAMS SONOMA INC COM	5,667	$1.033M	0.0%	$207.86	0.0%	COM	969904101
KLAC	KLA CORPORATION	606	$892K	0.0%	$1462.03	0.0%	COM	482480100
PGR	PROGRESSIVE CORPORATION	3,729	$739K	0.0%	$206.69	0.0%	COM	743315103
WSO/B	WATSCO CLASS B	1,245	$449K	0.0%	$383.98	0.0%	COM	942622101
BA	BOEING CO	2,178	$433K	0.0%	$238.54	0.0%	COM	097023105
—	GOLDMAN SACHS GROUP	506	$428K	0.0%	$845.99	—	COM	38141g104
LII	LENNOX INTERNATIONAL INC.	804	$373K	0.0%	$526.73	0.0%	COM	526107107
NEM	NEWMONT GOLDCORP CORP	2,908	$315K	0.0%	$118.12	0.0%	COM	651639106
BMY	BRISTOL-MYERS SQUIBB	5,110	$310K	0.0%	$57.43	0.0%	COM	110122108
—	ALLISON TRANSMISSION HLDGS INC	2,308	$270K	0.0%	$117.06	—	COM	01973r101
—	OTIS WORLDWIDE ORD SHS	3,165	$244K	0.0%	$77.08	—	COM	68902v107
—	ALPS ALERIAN MLP ETF	3,809	$201K	0.0%	$52.64	—	ETFS	00162q452

Increased Positions (40)

— BROADCOM INC 1.2%

Value $60.5M (+11302.3%) Shares 195,462 (+12650.3%) Est. Cost $309.38 Unrealized —

— PERIMETER SOLUTIONS INC 1.8%

Value $96.03M (+37.6%) Shares 3,932,371 (+55.1%) Est. Cost $16.72 Unrealized —

APH AMPHENOL CORP NEW CL A 0.5%

Value $26.92M (+579.7%) Shares 213,060 (+627.0%) Est. Cost $135.62 Unrealized +8.0%

MSI MOTOROLA SOLUTIONS INC. 1.1%

Value $55.73M (+59.8%) Shares 128,423 (+41.1%) Est. Cost $426.88 Unrealized -2.6%

— NETFLIX INC 1.0%

Value $50.94M (+47.4%) Shares 529,849 (+43.7%) Est. Cost $94.49 Unrealized —

LB LANDBRIDGE COMPANY LLC CL A 0.7%

Value $34.37M (+59.8%) Shares 497,807 (+13.4%) Est. Cost $58.12 Unrealized -0.4%

SYK STRYKER CORP 0.2%

Value $11.44M (+495.3%) Shares 34,830 (+536.7%) Est. Cost $347.78 Unrealized +4.9%

CPRT COPART INC COM 0.8%

Value $39.31M (-14.0%) Shares 1,183,988 (+1.5%) Est. Cost $52.39 Unrealized -25.3%

— MEDPACE HOLDINGS, INC. 0.7%

Value $35.92M (+17.0%) Shares 74,810 (+36.9%) Est. Cost $349.92 Unrealized —

— ENSIGN GROUP INC COM 0.2%

Value $12.93M (+36.5%) Shares 64,184 (+18.0%) Est. Cost $177.81 Unrealized —

UTZ UTZ BRANDS INC. 0.2%

Value $10.5M (-22.2%) Shares 1,325,603 (+2.0%) Est. Cost $14.26 Unrealized -29.0%

— MSCI INC COM 1.3%

Value $65.46M (-3.9%) Shares 121,442 (+2.3%) Est. Cost $540.45 Unrealized —

CSW CSW INDUSTRIALS INC 0.5%

Value $25.16M (-7.2%) Shares 96,562 (+4.6%) Est. Cost $258.76 Unrealized +17.9%

BMI BADGER METER INC COM 0.4%

Value $22.98M (+8.2%) Shares 150,869 (+23.8%) Est. Cost $189.39 Unrealized -14.6%

— GUIDEWIRE SOFTWARE INC 1.8%

Value $92.47M (+1.6%) Shares 618,275 (+36.5%) Est. Cost $95.75 Unrealized —

FSS FEDERAL SIGNAL CORP 0.4%

Value $22.91M (+5.7%) Shares 211,840 (+6.2%) Est. Cost $90.95 Unrealized +26.6%

AXP AMERICAN EXPRESS CO 0.0%

Value $1.589M (+358.9%) Shares 5,253 (+461.2%) Est. Cost $345.03 Unrealized +3.2%

— CAPITAL ONE FINL CORP COM 0.1%

Value $5.905M (-16.7%) Shares 32,367 (+10.7%) Est. Cost $160.40 Unrealized —

WSO WATSCO INC 0.2%

Value $8.307M (+14.1%) Shares 22,836 (+5.7%) Est. Cost $209.55 Unrealized +87.2%

— EQT CORP 0.1%

Value $2.782M (+33.2%) Shares 43,720 (+12.2%) Est. Cost $54.69 Unrealized —

EMR EMERSON ELECTRIC CO 0.0%

Value $1.252M (+114.0%) Shares 9,558 (+116.7%) Est. Cost $126.17 Unrealized +17.7%

ITW ILLINOIS TOOL WORKS 0.0%

Value $1.62M (+32.0%) Shares 6,222 (+24.9%) Est. Cost $222.67 Unrealized +22.7%

— NOVARTIS AG F SPONSORED ADR 1 0.0%

Value $781K (+70.1%) Shares 5,115 (+53.6%) Est. Cost $118.91 Unrealized —

MS MORGAN STANLEY 0.0%

Value $634K (+97.9%) Shares 3,854 (+113.5%) Est. Cost $158.76 Unrealized +13.2%

— CISCO SYSTEMS INC 0.1%

Value $3.916M (+6.4%) Shares 50,469 (+5.6%) Est. Cost $36.83 Unrealized —

— M & T BANK CORP 0.0%

Value $617K (+56.0%) Shares 2,985 (+52.1%) Est. Cost $173.05 Unrealized —

LH LABCORP HOLDINGS INC 0.0%

Value $883K (+30.5%) Shares 3,308 (+22.7%) Est. Cost $225.10 Unrealized +20.4%

— CHUBB LTD 0.0%

Value $1.481M (+11.8%) Shares 4,545 (+7.1%) Est. Cost $180.28 Unrealized —

— RTX CORP 0.0%

Value $774K (+24.7%) Shares 4,012 (+18.6%) Est. Cost $124.16 Unrealized —

— ISHARES CORE MSCI EAFE ETF 0.0%

Value $808K (+18.3%) Shares 8,923 (+16.9%) Est. Cost $78.36 Unrealized —

WFC WELLS FARGO BK N A 0.0%

Value $410K (+38.1%) Shares 5,154 (+61.6%) Est. Cost $79.78 Unrealized +12.9%

MCD MC DONALDS CORP 0.0%

Value $1.493M (+6.8%) Shares 4,804 (+5.0%) Est. Cost $247.19 Unrealized +28.3%

— POOL CORPORATION 0.0%

Value $527K (+14.4%) Shares 2,603 (+29.3%) Est. Cost $209.98 Unrealized —

VYM VANGUARD HIGH DIVIDEND YIELD E 0.0%

Value $1.468M (+4.4%) Shares 9,913 (+1.2%) Est. Cost $106.97 Unrealized —

EFA ISHARES MSCI EAFE ETF 0.0%

Value $2.344M (+2.4%) Shares 24,137 (+1.2%) Est. Cost $79.03 Unrealized —

BDX BECTON DICKINSON&CO 0.0%

Value $263K (-16.5%) Shares 1,675 (+3.1%) Est. Cost $120.54 Unrealized +39.2%

TSM TAIWAN SEMICONDUCTOR MFG LTD A 0.0%

Value $326K (+17.0%) Shares 966 (+5.2%) Est. Cost $282.20 Unrealized —

VTI VANGUARD TOTAL STK MKT ETF 0.0%

Value $743K (+4.7%) Shares 2,315 (+9.5%) Est. Cost $306.74 Unrealized —

VO VANGUARD MID CAP ETF 0.0%

Value $229K (+12.5%) Shares 796 (+13.7%) Est. Cost $292.95 Unrealized —

VB VANGUARD INDEX FDS SMALL CP ET 0.0%

Value $409K (+5.0%) Shares 1,562 (+3.4%) Est. Cost $165.97 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	BROADCOM INC	195,462 (+12650.3%)	$60.5M (+11302.3%)	1.2%	$309.38	—	COM	11135f101
—	PERIMETER SOLUTIONS INC	3,932,371 (+55.1%)	$96.03M (+37.6%)	1.8%	$16.72	—	COM	71385m107
APH	AMPHENOL CORP NEW CL A	213,060 (+627.0%)	$26.92M (+579.7%)	0.5%	$135.62	+8.0%	COM	032095101
MSI	MOTOROLA SOLUTIONS INC.	128,423 (+41.1%)	$55.73M (+59.8%)	1.1%	$426.88	-2.6%	COM	620076307
—	NETFLIX INC	529,849 (+43.7%)	$50.94M (+47.4%)	1.0%	$94.49	—	COM	64110l106
LB	LANDBRIDGE COMPANY LLC CL A	497,807 (+13.4%)	$34.37M (+59.8%)	0.7%	$58.12	-0.4%	COM	514952100
SYK	STRYKER CORP	34,830 (+536.7%)	$11.44M (+495.3%)	0.2%	$347.78	+4.9%	COM	863667101
CPRT	COPART INC COM	1,183,988 (+1.5%)	$39.31M (-14.0%)	0.8%	$52.39	-25.3%	COM	217204106
—	MEDPACE HOLDINGS, INC.	74,810 (+36.9%)	$35.92M (+17.0%)	0.7%	$349.92	—	COM	58506q109
—	ENSIGN GROUP INC COM	64,184 (+18.0%)	$12.93M (+36.5%)	0.2%	$177.81	—	COM	29358p101
UTZ	UTZ BRANDS INC.	1,325,603 (+2.0%)	$10.5M (-22.2%)	0.2%	$14.26	-29.0%	COM	918090101
—	MSCI INC COM	121,442 (+2.3%)	$65.46M (-3.9%)	1.3%	$540.45	—	COM	55354g100
CSW	CSW INDUSTRIALS INC	96,562 (+4.6%)	$25.16M (-7.2%)	0.5%	$258.76	+17.9%	COM	126402106
BMI	BADGER METER INC COM	150,869 (+23.8%)	$22.98M (+8.2%)	0.4%	$189.39	-14.6%	COM	056525108
—	GUIDEWIRE SOFTWARE INC	618,275 (+36.5%)	$92.47M (+1.6%)	1.8%	$95.75	—	COM	40171v100
FSS	FEDERAL SIGNAL CORP	211,840 (+6.2%)	$22.91M (+5.7%)	0.4%	$90.95	+26.6%	COM	313855108
AXP	AMERICAN EXPRESS CO	5,253 (+461.2%)	$1.589M (+358.9%)	0.0%	$345.03	+3.2%	COM	025816109
—	CAPITAL ONE FINL CORP COM	32,367 (+10.7%)	$5.905M (-16.7%)	0.1%	$160.40	—	COM	14040h105
WSO	WATSCO INC	22,836 (+5.7%)	$8.307M (+14.1%)	0.2%	$209.55	+87.2%	COM	942622200
—	EQT CORP	43,720 (+12.2%)	$2.782M (+33.2%)	0.1%	$54.69	—	COM	26884l109
EMR	EMERSON ELECTRIC CO	9,558 (+116.7%)	$1.252M (+114.0%)	0.0%	$126.17	+17.7%	COM	291011104
ITW	ILLINOIS TOOL WORKS	6,222 (+24.9%)	$1.62M (+32.0%)	0.0%	$222.67	+22.7%	COM	452308109
—	NOVARTIS AG F SPONSORED ADR 1	5,115 (+53.6%)	$781K (+70.1%)	0.0%	$118.91	—	COM	66987v109
MS	MORGAN STANLEY	3,854 (+113.5%)	$634K (+97.9%)	0.0%	$158.76	+13.2%	COM	617446448
—	CISCO SYSTEMS INC	50,469 (+5.6%)	$3.916M (+6.4%)	0.1%	$36.83	—	COM	17275r102
—	M & T BANK CORP	2,985 (+52.1%)	$617K (+56.0%)	0.0%	$173.05	—	COM	55261f104
LH	LABCORP HOLDINGS INC	3,308 (+22.7%)	$883K (+30.5%)	0.0%	$225.10	+20.4%	COM	504922105
—	CHUBB LTD	4,545 (+7.1%)	$1.481M (+11.8%)	0.0%	$180.28	—	COM	h1467j104
—	RTX CORP	4,012 (+18.6%)	$774K (+24.7%)	0.0%	$124.16	—	COM	75513e101
—	ISHARES CORE MSCI EAFE ETF	8,923 (+16.9%)	$808K (+18.3%)	0.0%	$78.36	—	ETFS	46432f842
WFC	WELLS FARGO BK N A	5,154 (+61.6%)	$410K (+38.1%)	0.0%	$79.78	+12.9%	COM	949746101
MCD	MC DONALDS CORP	4,804 (+5.0%)	$1.493M (+6.8%)	0.0%	$247.19	+28.3%	COM	580135101
—	POOL CORPORATION	2,603 (+29.3%)	$527K (+14.4%)	0.0%	$209.98	—	COM	73278l105
VYM	VANGUARD HIGH DIVIDEND YIELD E	9,913 (+1.2%)	$1.468M (+4.4%)	0.0%	$106.97	—	ETFS	921946406
EFA	ISHARES MSCI EAFE ETF	24,137 (+1.2%)	$2.344M (+2.4%)	0.0%	$79.03	—	ETFS	464287465
BDX	BECTON DICKINSON&CO	1,675 (+3.1%)	$263K (-16.5%)	0.0%	$120.54	+39.2%	COM	075887109
TSM	TAIWAN SEMICONDUCTOR MFG LTD A	966 (+5.2%)	$326K (+17.0%)	0.0%	$282.20	—	COM	874039100
VTI	VANGUARD TOTAL STK MKT ETF	2,315 (+9.5%)	$743K (+4.7%)	0.0%	$306.74	—	ETFS	922908769
VO	VANGUARD MID CAP ETF	796 (+13.7%)	$229K (+12.5%)	0.0%	$292.95	—	ETFS	922908629
VB	VANGUARD INDEX FDS SMALL CP ET	1,562 (+3.4%)	$409K (+5.0%)	0.0%	$165.97	—	ETFS	922908751

Exited Positions (20)

MASI MASIMO CORP COM 0.4%

Value $18.55M Shares 142,626 Est. Cost $149.44 Unrealized -2.9%

— SPS COMMERCE INC 0.3%

Value $18.07M Shares 202,771 Est. Cost $153.69 Unrealized —

— SERVICETITAN INC CL A 0.2%

Value $9.54M Shares 89,575 Est. Cost $101.74 Unrealized —

JBTM JBT MAREL CORPORATION COM 0.1%

Value $5.708M Shares 37,883 Est. Cost $104.36 Unrealized +53.0%

IWP ISHARES RUSSELL MIDCAP GROWTH 0.1%

Value $3.894M Shares 28,433 Est. Cost $136.94 Unrealized —

IWO ISHARES RUSSELL 2000 GROWTH IN 0.0%

Value $2.111M Shares 6,534 Est. Cost $323.01 Unrealized —

IVV ISHARES CORE S&P 500 ETF 0.0%

Value $1.369M Shares 1,998 Est. Cost $684.94 Unrealized —

IJR ISHARES CORE S&P SMALL CAP ETF 0.0%

Value $1.014M Shares 8,436 Est. Cost $120.18 Unrealized —

IJH ISHARES CORE S&P MID CAP ETF 0.0%

Value $644K Shares 9,750 Est. Cost $66.00 Unrealized —

— INVESCO S&P 500 MOMENTUM ETF 0.0%

Value $581K Shares 4,872 Est. Cost $121.06 Unrealized —

FICO FAIR ISAAC CORP 0.0%

Value $309K Shares 183 Est. Cost $1503.82 Unrealized -2.5%

— PELOTON INTERACTIVE INC CL A C 0.0%

Value $284K Shares 46,100 Est. Cost $23.69 Unrealized —

DVY ISHARES TR SELECT DIVID ETF 0.0%

Value $241K Shares 1,705 Est. Cost $123.18 Unrealized —

UNP UNION PACIFIC CORP 0.0%

Value $237K Shares 1,024 Est. Cost $177.18 Unrealized +37.3%

— BLACKLINE INC 0.0%

Value $236K Shares 4,270 Est. Cost $53.82 Unrealized —

IWM ISHARES RUSSELL 2000 ETF 0.0%

Value $227K Shares 923 Est. Cost $241.96 Unrealized —

O REALTY INCM CRP MD PV$1.REIT 0.0%

Value $215K Shares 3,813 Est. Cost $52.73 Unrealized +8.7%

RSG REPUBLIC SVCS INC 0.0%

Value $209K Shares 986 Est. Cost $221.89 Unrealized -2.4%

CVS CVS HEALTH CORP 0.0%

Value $206K Shares 2,601 Est. Cost $78.67 Unrealized -0.9%

— CONSTELLATION ENERGY CORP COM 0.0%

Value $203K Shares 576 Est. Cost $353.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MASI	MASIMO CORP COM	142,626	$18.55M	0.4%	$149.44	-2.9%	—	574795100
—	SPS COMMERCE INC	202,771	$18.07M	0.3%	$153.69	—	—	78463m107
—	SERVICETITAN INC CL A	89,575	$9.54M	0.2%	$101.74	—	—	81764x103
JBTM	JBT MAREL CORPORATION COM	37,883	$5.708M	0.1%	$104.36	+53.0%	—	477839104
IWP	ISHARES RUSSELL MIDCAP GROWTH	28,433	$3.894M	0.1%	$136.94	—	—	464287481
IWO	ISHARES RUSSELL 2000 GROWTH IN	6,534	$2.111M	0.0%	$323.01	—	—	464287648
IVV	ISHARES CORE S&P 500 ETF	1,998	$1.369M	0.0%	$684.94	—	—	464287200
IJR	ISHARES CORE S&P SMALL CAP ETF	8,436	$1.014M	0.0%	$120.18	—	—	464287804
IJH	ISHARES CORE S&P MID CAP ETF	9,750	$644K	0.0%	$66.00	—	—	464287507
—	INVESCO S&P 500 MOMENTUM ETF	4,872	$581K	0.0%	$121.06	—	—	46138e339
FICO	FAIR ISAAC CORP	183	$309K	0.0%	$1503.82	-2.5%	—	303250104
—	PELOTON INTERACTIVE INC CL A C	46,100	$284K	0.0%	$23.69	—	—	70614w100
DVY	ISHARES TR SELECT DIVID ETF	1,705	$241K	0.0%	$123.18	—	—	464287168
UNP	UNION PACIFIC CORP	1,024	$237K	0.0%	$177.18	+37.3%	—	907818108
—	BLACKLINE INC	4,270	$236K	0.0%	$53.82	—	—	09239b109
IWM	ISHARES RUSSELL 2000 ETF	923	$227K	0.0%	$241.96	—	—	464287655
O	REALTY INCM CRP MD PV$1.REIT	3,813	$215K	0.0%	$52.73	+8.7%	—	756109104
RSG	REPUBLIC SVCS INC	986	$209K	0.0%	$221.89	-2.4%	—	760759100
CVS	CVS HEALTH CORP	2,601	$206K	0.0%	$78.67	-0.9%	—	126650100
—	CONSTELLATION ENERGY CORP COM	576	$203K	0.0%	$353.27	—	—	21037t109

Decreased Positions (147)

HEI/A HEICO CORP CL A 3.1%

Value $164M (-34.2%) Shares 777,018 (-21.4%) Est. Cost $99.65 Unrealized +160.4%

— COSTAR GROUP INC 1.2%

Value $64.75M (-52.0%) Shares 1,605,157 (-20.0%) Est. Cost $84.16 Unrealized —

— VERALTO CORP 0.9%

Value $46.71M (-59.1%) Shares 528,258 (-53.8%) Est. Cost $85.69 Unrealized —

VMC VULCAN MATERIALS CO 2.8%

Value $148M (-30.0%) Shares 543,613 (-26.6%) Est. Cost $124.83 Unrealized +145.8%

— S & P GLOBAL INC 1.2%

Value $64.8M (-48.7%) Shares 152,338 (-36.9%) Est. Cost $400.89 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.9%

Value $46.17M (-55.7%) Shares 93,940 (-47.8%) Est. Cost $261.98 Unrealized +119.3%

WST WEST PHARMACEUTICALS, INC. 0.6%

Value $30.23M (-65.6%) Shares 120,597 (-62.3%) Est. Cost $320.78 Unrealized -21.5%

TDG TRANSDIGM GROUP INC 2.7%

Value $142M (-28.6%) Shares 122,753 (-18.0%) Est. Cost $252.00 Unrealized +440.3%

INTU INTUIT INC. 0.1%

Value $3.328M (-94.4%) Shares 7,697 (-91.5%) Est. Cost $508.99 Unrealized -2.2%

VEEV VEEVA SYSTEMS, INC. 1.6%

Value $81M (-39.0%) Shares 461,103 (-22.5%) Est. Cost $189.12 Unrealized +7.8%

MCO MOODYS CORP 2.5%

Value $129M (-28.3%) Shares 295,401 (-16.1%) Est. Cost $110.76 Unrealized +342.0%

— CBRE GROUP INC 1.7%

Value $89.07M (-35.6%) Shares 657,510 (-23.6%) Est. Cost $81.90 Unrealized —

— VISA INC CL A 3.6%

Value $187M (-20.9%) Shares 618,044 (-8.2%) Est. Cost $237.48 Unrealized —

ECL ECOLAB INC 2.6%

Value $138M (-26.0%) Shares 518,622 (-26.9%) Est. Cost $103.84 Unrealized +175.7%

MSFT MICROSOFT CORP 2.1%

Value $109M (-29.9%) Shares 293,450 (-8.4%) Est. Cost $209.17 Unrealized +107.8%

— INTUITIVE SURGICAL INC 2.4%

Value $127M (-26.6%) Shares 275,313 (-9.8%) Est. Cost $343.18 Unrealized —

— BIO-TECHNE CORP 2.0%

Value $107M (-30.0%) Shares 2,043,047 (-21.2%) Est. Cost $80.32 Unrealized —

— GOOSEHEAD INSURANCE, INC. 0.6%

Value $33.43M (-56.6%) Shares 783,615 (-25.0%) Est. Cost $68.39 Unrealized —

— WASTE CONNECTIONS INC 2.7%

Value $140M (-23.5%) Shares 859,515 (-17.4%) Est. Cost $142.76 Unrealized —

— APPFOLIO, INC 1.0%

Value $50.58M (-45.8%) Shares 320,512 (-20.2%) Est. Cost $200.78 Unrealized —

— ALPHABET INC CL C 4.2%

Value $217M (-16.1%) Shares 756,817 (-8.3%) Est. Cost $123.76 Unrealized —

— KINSALE CAPITAL GROUP INC. 1.6%

Value $85.05M (-31.1%) Shares 248,937 (-21.2%) Est. Cost $368.40 Unrealized —

— MASTERCARD INC CL A 2.7%

Value $143M (-21.0%) Shares 287,119 (-9.8%) Est. Cost $394.48 Unrealized —

RGEN REPLIGEN CORPORATION 0.8%

Value $43.02M (-47.0%) Shares 365,115 (-26.3%) Est. Cost $154.03 Unrealized -1.1%

AMZN AMAZON.COM INC 3.2%

Value $166M (-17.8%) Shares 796,428 (-8.9%) Est. Cost $120.32 Unrealized +88.5%

— PROCORE TECHNOLOGIES INC 0.9%

Value $49.03M (-41.2%) Shares 860,181 (-24.9%) Est. Cost $70.59 Unrealized —

TYL TYLER TECHNOLOGIES INC 1.1%

Value $58.09M (-36.4%) Shares 169,677 (-15.7%) Est. Cost $479.93 Unrealized -19.8%

CDNS CADENCE DESIGN SYSTEMS INC. 1.5%

Value $80.04M (-28.6%) Shares 288,044 (-19.7%) Est. Cost $281.85 Unrealized +7.6%

DHR DANAHER CORP 1.6%

Value $81.77M (-26.5%) Shares 431,292 (-11.2%) Est. Cost $102.67 Unrealized +118.8%

— PTC INC 0.5%

Value $25.73M (-51.9%) Shares 180,589 (-41.1%) Est. Cost $165.92 Unrealized —

— SERVICENOW INC 0.7%

Value $36.55M (-42.9%) Shares 349,563 (-16.3%) Est. Cost $262.36 Unrealized —

MANH MANHATTAN ASSOCS INC COM 1.0%

Value $51.73M (-34.6%) Shares 388,625 (-14.9%) Est. Cost $204.36 Unrealized -23.8%

TEAM ATLASSIAN CORPORATION CL A 0.1%

Value $7.541M (-77.3%) Shares 110,497 (-46.0%) Est. Cost $171.61 Unrealized -34.0%

MKL MARKEL GROUP INC 1.0%

Value $50.79M (-31.2%) Shares 26,536 (-22.7%) Est. Cost $942.91 Unrealized +120.4%

HLNE HAMILTON LANE INC 0.3%

Value $15.59M (-57.9%) Shares 156,864 (-43.1%) Est. Cost $90.71 Unrealized +49.6%

— VERISK ANALYTICS INC 0.4%

Value $20.35M (-49.4%) Shares 107,267 (-40.4%) Est. Cost $234.88 Unrealized —

MPWR MONOLITHIC PWR SYS INC COM 1.9%

Value $96.82M (-16.1%) Shares 88,549 (-30.4%) Est. Cost $588.18 Unrealized +87.8%

MTD METTLER TOLEDO INTL 0.5%

Value $24.82M (-42.5%) Shares 19,679 (-36.4%) Est. Cost $1276.92 Unrealized +10.7%

DSGX THE DESCARTES SYSTEMS GROUP IN 0.3%

Value $13.13M (-57.5%) Shares 183,478 (-47.9%) Est. Cost $80.21 Unrealized -5.7%

FND FLOOR & DECOR HOLDINGS, INC. 0.6%

Value $32.41M (-34.6%) Shares 638,003 (-21.7%) Est. Cost $80.71 Unrealized -13.3%

QCOM QUALCOMM INC 0.5%

Value $27.19M (-38.5%) Shares 211,130 (-18.3%) Est. Cost $98.08 Unrealized +56.9%

ODFL OLD DOMINION FGHT LINES INC CO 0.6%

Value $32.93M (-32.9%) Shares 168,508 (-46.2%) Est. Cost $163.90 Unrealized +11.7%

BRO BROWN & BROWN 0.3%

Value $15.18M (-50.8%) Shares 232,798 (-39.8%) Est. Cost $93.55 Unrealized -20.7%

MORN MORNINGSTAR INC 0.3%

Value $17.31M (-45.3%) Shares 102,371 (-29.7%) Est. Cost $266.36 Unrealized -28.6%

— SITEONE LANDSCAPE SUPPLY, INC. 0.6%

Value $31.43M (-29.2%) Shares 236,148 (-33.8%) Est. Cost $162.31 Unrealized —

— UBER TECHNOLOGIES, INC. 1.0%

Value $54.35M (-18.6%) Shares 755,581 (-7.6%) Est. Cost $74.56 Unrealized —

BAH BOOZ ALLEN HAMILTON HOLDING CO 0.4%

Value $20.33M (-36.5%) Shares 260,522 (-31.3%) Est. Cost $116.49 Unrealized -25.3%

— AGILYSYS INC 0.3%

Value $13.16M (-45.4%) Shares 184,925 (-8.8%) Est. Cost $104.61 Unrealized —

— NOVANTA INC COM NPV 0.9%

Value $45.69M (-17.9%) Shares 386,877 (-17.3%) Est. Cost $120.14 Unrealized —

MCHP MICROCHIP TECH INC 0.3%

Value $14.89M (-40.1%) Shares 230,384 (-40.9%) Est. Cost $74.76 Unrealized +1.3%

AAPL APPLE INC 1.1%

Value $59.42M (-13.7%) Shares 234,123 (-7.5%) Est. Cost $192.69 Unrealized +36.4%

— ENTEGRIS INC 0.3%

Value $16.69M (-32.7%) Shares 142,363 (-51.6%) Est. Cost $103.17 Unrealized —

ALRM ALARM.COM 0.2%

Value $12.96M (-38.1%) Shares 299,977 (-26.9%) Est. Cost $62.98 Unrealized -22.9%

CWST CASELLA WASTE SYSTEMS INC CL A 0.5%

Value $25.99M (-22.7%) Shares 327,585 (-4.6%) Est. Cost $95.50 Unrealized +6.5%

FAST FASTENAL CO 2.4%

Value $124M (+6.4%) Shares 2,667,297 (-8.0%) Est. Cost $22.04 Unrealized +100.9%

— DOUGLAS DYNAMICS INC 0.2%

Value $10.37M (-41.1%) Shares 246,325 (-54.3%) Est. Cost $28.57 Unrealized —

— CROWDSTRIKE HOLDINGS, INC. 0.4%

Value $21.86M (-24.6%) Shares 55,996 (-9.5%) Est. Cost $195.81 Unrealized —

— EAGLE MATERIALS INC 0.3%

Value $14.15M (-32.7%) Shares 74,711 (-26.6%) Est. Cost $209.71 Unrealized —

MUSA MURPHY USA INC COM 0.2%

Value $11.36M (-37.3%) Shares 22,997 (-48.8%) Est. Cost $346.86 Unrealized +19.0%

HAYW HAYWARD HOLDINGS INC 0.6%

Value $28.83M (-18.1%) Shares 2,154,356 (-5.4%) Est. Cost $14.51 Unrealized +12.1%

— IDEXX LABS INC 0.4%

Value $22.49M (-21.7%) Shares 40,023 (-5.7%) Est. Cost $309.51 Unrealized —

ROP ROPER TECHNOLOGIES INC 0.2%

Value $12.58M (-31.4%) Shares 35,563 (-13.7%) Est. Cost $163.99 Unrealized +130.6%

— AMERICAN TOWER CORP 0.4%

Value $22.76M (-19.0%) Shares 131,882 (-17.6%) Est. Cost $193.94 Unrealized —

SHW SHERWIN-WILLIAMS CO 0.7%

Value $33.97M (-11.8%) Shares 105,986 (-10.8%) Est. Cost $251.81 Unrealized +41.1%

— ASML HOLDINGS N.V. 1.5%

Value $79.87M (+5.4%) Shares 60,467 (-14.6%) Est. Cost $902.27 Unrealized —

LMAT LEMAITRE VASCULAR 0.3%

Value $18.05M (+27.8%) Shares 165,341 (-5.1%) Est. Cost $49.15 Unrealized +77.3%

SNPS SYNOPSYS INC 0.2%

Value $10.46M (-23.2%) Shares 26,382 (-9.0%) Est. Cost $565.30 Unrealized -16.6%

— J P MORGAN CHASE & CO 0.2%

Value $8.727M (-25.6%) Shares 29,669 (-18.5%) Est. Cost $163.46 Unrealized —

— RBC BEARINGS INC 0.8%

Value $39.87M (-6.9%) Shares 73,409 (-23.1%) Est. Cost $316.32 Unrealized —

— CORE & MAIN INC CL A 0.4%

Value $23.43M (-10.1%) Shares 474,350 (-5.4%) Est. Cost $38.97 Unrealized —

— SHOPIFY INC. 0.1%

Value $2.82M (-47.5%) Shares 23,770 (-28.7%) Est. Cost $65.25 Unrealized —

— ABBVIE INC SHS 0.1%

Value $5.615M (-28.3%) Shares 25,819 (-24.7%) Est. Cost $142.05 Unrealized —

ADP AUTO DATA PROCESSING 0.1%

Value $3.501M (-37.8%) Shares 17,232 (-21.3%) Est. Cost $151.88 Unrealized +58.6%

LLY LILLY ELI & CO 0.1%

Value $2.851M (-40.6%) Shares 3,100 (-30.6%) Est. Cost $364.11 Unrealized +187.6%

JNJ JOHNSON & JOHNSON 0.3%

Value $13.11M (+16.6%) Shares 53,623 (-1.3%) Est. Cost $118.02 Unrealized +93.1%

— T ROWE PRICE GROUP INC 0.1%

Value $5.153M (-24.9%) Shares 57,170 (-14.7%) Est. Cost $111.40 Unrealized —

— HEALTHEQUITY, INC. 0.2%

Value $11.18M (-12.9%) Shares 133,782 (-4.6%) Est. Cost $67.71 Unrealized —

— ORACLE CORP 0.0%

Value $1.11M (-57.1%) Shares 7,546 (-43.2%) Est. Cost $208.35 Unrealized —

LVMUY LVMH MOET HENNESSY LOU VUITTON 0.0%

Value $537K (-73.3%) Shares 4,913 (-63.2%) Est. Cost $145.21 Unrealized —

— TERRENO REALTY CORP 0.0%

Value $1.017M (-57.6%) Shares 16,552 (-59.5%) Est. Cost $62.12 Unrealized —

ABT ABBOTT LABORATORIES 0.0%

Value $2.588M (-32.7%) Shares 25,207 (-17.8%) Est. Cost $119.35 Unrealized -3.3%

BRK/A BERKSHIRE HATHAWAY INC DELAWA 0.2%

Value $8.618M (-12.2%) Shares 12 (-7.7%) Est. Cost $388661.53 Unrealized +90.5%

ADI ANALOG DEVICES INC 0.0%

Value $1.511M (-39.6%) Shares 4,751 (-48.5%) Est. Cost $159.03 Unrealized +98.8%

— NEXTERA ENERGY INC SHS 0.0%

Value $1.047M (-48.1%) Shares 11,276 (-55.1%) Est. Cost $84.73 Unrealized —

LOW LOWE'S COMPANIES INC 0.1%

Value $4.04M (-19.2%) Shares 17,099 (-17.5%) Est. Cost $102.73 Unrealized +164.3%

— O REILLY AUTOMOTIVE 0.8%

Value $43.56M (-2.1%) Shares 471,882 (-3.3%) Est. Cost $114.52 Unrealized —

PAYX PAYCHEX INC 0.1%

Value $2.693M (-25.9%) Shares 29,233 (-9.7%) Est. Cost $82.15 Unrealized +24.1%

— MARKETAXESS HLDGS INC COM 0.1%

Value $6.764M (-11.4%) Shares 41,000 (-2.6%) Est. Cost $223.34 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC CL B 0.2%

Value $9.89M (-7.9%) Shares 20,638 (-3.4%) Est. Cost $200.78 Unrealized +145.8%

— EXPONENT INC 0.1%

Value $7.499M (-9.4%) Shares 114,920 (-3.6%) Est. Cost $97.94 Unrealized —

DIS WALT DISNEY CO 0.0%

Value $1.051M (-42.5%) Shares 10,902 (-32.1%) Est. Cost $105.53 Unrealized +3.7%

— LINDE PLC SHS 0.0%

Value $748K (-50.5%) Shares 1,508 (-57.4%) Est. Cost $433.62 Unrealized —

— MERCK & CO. INC. 0.1%

Value $2.729M (-21.1%) Shares 22,689 (-30.9%) Est. Cost $81.50 Unrealized —

— SBA COMMUNICATIONS CORP CL A 0.0%

Value $634K (-53.3%) Shares 3,686 (-47.5%) Est. Cost $231.76 Unrealized —

— COSTCO WHOLESALE CO 0.3%

Value $14.48M (+5.1%) Shares 14,536 (-9.0%) Est. Cost $456.30 Unrealized —

— NXP SEMICONDUCTORS 0.0%

Value $416K (-61.2%) Shares 2,111 (-57.3%) Est. Cost $230.51 Unrealized —

HUBB HUBBELL INC 0.0%

Value $495K (-55.6%) Shares 1,009 (-59.8%) Est. Cost $403.40 Unrealized +22.8%

WMT WALMART INC 0.0%

Value $740K (-44.9%) Shares 5,952 (-50.6%) Est. Cost $47.38 Unrealized +157.5%

MRSH MARSH COM 0.0%

Value $488K (-54.0%) Shares 2,816 (-50.8%) Est. Cost $158.48 Unrealized +14.4%

BAC BANK AMER CORP COM 0.0%

Value $371K (-59.7%) Shares 7,613 (-54.5%) Est. Cost $44.60 Unrealized +20.3%

— EOG RES INC COM 0.0%

Value $361K (-59.3%) Shares 2,499 (-70.5%) Est. Cost $120.22 Unrealized —

VOO VANGUARD S&P 500 ETF 0.2%

Value $8.555M (-5.7%) Shares 14,316 (-1.1%) Est. Cost $313.50 Unrealized —

— McKESSON CORP 0.0%

Value $500K (-50.7%) Shares 578 (-53.3%) Est. Cost $773.08 Unrealized —

— APPLIED INDL TECHNOLOGIES INC 0.5%

Value $23.95M (-2.1%) Shares 90,256 (-5.3%) Est. Cost $232.56 Unrealized —

MKC MCCORMICK & CO INC COM NON VTG 0.0%

Value $1.07M (-32.3%) Shares 21,204 (-8.6%) Est. Cost $58.29 Unrealized +14.4%

— EXXON MOBIL CORP 0.0%

Value $2.096M (+31.9%) Shares 12,355 (-6.4%) Est. Cost $94.03 Unrealized —

TSCO TRACTOR SUPPLY COMP 0.0%

Value $1.443M (-25.4%) Shares 31,850 (-17.6%) Est. Cost $58.52 Unrealized -9.9%

MDLZ MONDELEZ INTL INC 0.0%

Value $856K (-36.2%) Shares 14,857 (-40.4%) Est. Cost $58.17 Unrealized -0.0%

ESE ESCO TECHNOLOGIES INC 0.4%

Value $20.58M (-2.3%) Shares 73,142 (-32.2%) Est. Cost $185.50 Unrealized +29.2%

— CONSTELLATION SOFTWARE F 0.0%

Value $1.008M (-32.4%) Shares 573 (-7.7%) Est. Cost $678.09 Unrealized —

— RANGE RESOURCES CORP DEL 0.0%

Value $2.429M (+23.5%) Shares 53,760 (-3.6%) Est. Cost $31.17 Unrealized —

FISV FISERV INC COM 0.0%

Value $1.748M (-19.7%) Shares 31,335 (-3.4%) Est. Cost $64.57 Unrealized -1.0%

— META PLATFORMS INC CL A 0.0%

Value $2.195M (-15.4%) Shares 3,836 (-2.4%) Est. Cost $621.73 Unrealized —

— BOOKING HOLDING, INC. 0.0%

Value $400K (-49.9%) Shares 95 (-36.2%) Est. Cost $3878.97 Unrealized —

CVX CHEVRON CORP 0.0%

Value $1.756M (-18.0%) Shares 8,487 (-39.6%) Est. Cost $132.48 Unrealized +29.7%

— CAMECO CORP 0.1%

Value $3.009M (-10.1%) Shares 27,701 (-24.2%) Est. Cost $34.20 Unrealized —

— EDWARDS LIFESCIENCES 0.0%

Value $1.542M (-17.7%) Shares 19,253 (-12.4%) Est. Cost $74.34 Unrealized —

PNC PNC FINL SERVICES 0.0%

Value $441K (-41.3%) Shares 2,121 (-41.1%) Est. Cost $115.00 Unrealized +95.6%

WAB WABTEC 0.0%

Value $2.41M (+14.7%) Shares 9,643 (-2.0%) Est. Cost $68.71 Unrealized +247.8%

HD HOME DEPOT INC 0.1%

Value $3.019M (-9.2%) Shares 9,178 (-5.0%) Est. Cost $273.87 Unrealized +37.7%

ILMN ILLUMINA INC 0.0%

Value $331K (-47.4%) Shares 2,683 (-44.0%) Est. Cost $227.77 Unrealized -40.5%

WPM WHEATON PRECIOUS METALS CORP 0.0%

Value $2.286M (-10.6%) Shares 17,450 (-19.8%) Est. Cost $53.03 Unrealized +163.7%

— ACCENTURE PLC F CLASS A 0.0%

Value $371K (-42.1%) Shares 1,870 (-21.7%) Est. Cost $245.10 Unrealized —

SBUX STARBUCKS CORP COM 0.0%

Value $733K (-26.2%) Shares 8,186 (-30.6%) Est. Cost $84.83 Unrealized +10.4%

— BLACKSTONE GROUP ORD SHS CLASS 0.0%

Value $632K (-28.0%) Shares 5,499 (-3.4%) Est. Cost $131.37 Unrealized —

— UNITEDHEALTH GRP INC 0.0%

Value $681K (-22.9%) Shares 2,518 (-5.9%) Est. Cost $254.32 Unrealized —

— NVIDIA CORP 0.0%

Value $1.064M (-14.1%) Shares 6,100 (-8.2%) Est. Cost $174.89 Unrealized —

SSD SIMPSON MANUFACTURING CO 0.2%

Value $11.78M (+1.4%) Shares 68,667 (-4.6%) Est. Cost $127.66 Unrealized +47.0%

KO COCA COLA COM 0.1%

Value $2.759M (+6.1%) Shares 36,280 (-2.4%) Est. Cost $58.29 Unrealized +28.2%

— EAST WEST BANCORP INC 0.0%

Value $651K (-18.4%) Shares 6,100 (-14.1%) Est. Cost $36.00 Unrealized —

FNV FRANCO-NEVADA CORPORATION 0.0%

Value $2.433M (+4.7%) Shares 9,850 (-12.1%) Est. Cost $127.59 Unrealized +92.6%

PFE PFIZER INC 0.0%

Value $1.211M (+9.7%) Shares 43,142 (-2.7%) Est. Cost $23.52 Unrealized +11.3%

PG PROCTER & GAMBLE CO 0.4%

Value $18.71M (-0.4%) Shares 129,532 (-1.2%) Est. Cost $80.24 Unrealized +89.1%

HON HONEYWELL INTL INC 0.0%

Value $892K (-6.5%) Shares 3,948 (-19.3%) Est. Cost $179.08 Unrealized +26.2%

INTC INTEL CORP 0.0%

Value $1.052M (+5.7%) Shares 23,837 (-11.6%) Est. Cost $19.90 Unrealized +133.3%

— COMCAST CORP NEW CL A 0.0%

Value $476K (-8.9%) Shares 16,584 (-5.2%) Est. Cost $35.61 Unrealized —

— VERIZON COMMUNICATN 0.0%

Value $370K (-10.8%) Shares 7,364 (-27.6%) Est. Cost $46.95 Unrealized —

— CANADIAN PACIFIC KANSAS CITY C 0.0%

Value $559K (-7.1%) Shares 7,101 (-13.0%) Est. Cost $80.47 Unrealized —

PM PHILIP MORRIS INTL 0.0%

Value $478K (-8.1%) Shares 2,890 (-10.8%) Est. Cost $166.23 Unrealized +5.8%

VIG VANGUARD DIVIDEND APPREC 0.0%

Value $1.116M (-3.3%) Shares 5,189 (-1.1%) Est. Cost $130.04 Unrealized —

USB U S BANCORP 0.0%

Value $558K (-5.6%) Shares 10,720 (-3.2%) Est. Cost $27.85 Unrealized +103.4%

— PROLOGIS INC. 0.0%

Value $254K (-10.3%) Shares 1,919 (-13.4%) Est. Cost $105.87 Unrealized —

— EMCOR GROUP INC 0.0%

Value $399K (+7.7%) Shares 540 (-10.7%) Est. Cost $350.20 Unrealized —

VEU VANGUARD FTSE ALL WORLD EX US 0.1%

Value $4.282M (-0.4%) Shares 57,018 (-2.4%) Est. Cost $49.07 Unrealized —

— KADANT INC 0.3%

Value $13.56M (-0.0%) Shares 46,393 (-2.5%) Est. Cost $290.29 Unrealized —

ONTO ONTO INNOVATION INC 0.4%

Value $19.19M (+0.0%) Shares 93,581 (-23.0%) Est. Cost $118.87 Unrealized +74.0%

— ALTRIA GROUP INC 0.0%

Value $256K (-0.9%) Shares 3,886 (-13.4%) Est. Cost $58.63 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HEI/A	HEICO CORP CL A	777,018 (-21.4%)	$164M (-34.2%)	3.1%	$99.65	+160.4%	COM	422806208
—	COSTAR GROUP INC	1,605,157 (-20.0%)	$64.75M (-52.0%)	1.2%	$84.16	—	COM	22160n109
—	VERALTO CORP	528,258 (-53.8%)	$46.71M (-59.1%)	0.9%	$85.69	—	COM	92338c103
VMC	VULCAN MATERIALS CO	543,613 (-26.6%)	$148M (-30.0%)	2.8%	$124.83	+145.8%	COM	929160109
—	S & P GLOBAL INC	152,338 (-36.9%)	$64.8M (-48.7%)	1.2%	$400.89	—	COM	78409v104
TMO	THERMO FISHER SCIENTIFIC INC	93,940 (-47.8%)	$46.17M (-55.7%)	0.9%	$261.98	+119.3%	COM	883556102
WST	WEST PHARMACEUTICALS, INC.	120,597 (-62.3%)	$30.23M (-65.6%)	0.6%	$320.78	-21.5%	COM	955306105
TDG	TRANSDIGM GROUP INC	122,753 (-18.0%)	$142M (-28.6%)	2.7%	$252.00	+440.3%	COM	893641100
INTU	INTUIT INC.	7,697 (-91.5%)	$3.328M (-94.4%)	0.1%	$508.99	-2.2%	COM	461202103
VEEV	VEEVA SYSTEMS, INC.	461,103 (-22.5%)	$81M (-39.0%)	1.6%	$189.12	+7.8%	COM	922475108
MCO	MOODYS CORP	295,401 (-16.1%)	$129M (-28.3%)	2.5%	$110.76	+342.0%	COM	615369105
—	CBRE GROUP INC	657,510 (-23.6%)	$89.07M (-35.6%)	1.7%	$81.90	—	COM	12504l109
—	VISA INC CL A	618,044 (-8.2%)	$187M (-20.9%)	3.6%	$237.48	—	COM	92826c839
ECL	ECOLAB INC	518,622 (-26.9%)	$138M (-26.0%)	2.6%	$103.84	+175.7%	COM	278865100
MSFT	MICROSOFT CORP	293,450 (-8.4%)	$109M (-29.9%)	2.1%	$209.17	+107.8%	COM	594918104
—	INTUITIVE SURGICAL INC	275,313 (-9.8%)	$127M (-26.6%)	2.4%	$343.18	—	COM	46120e602
—	BIO-TECHNE CORP	2,043,047 (-21.2%)	$107M (-30.0%)	2.0%	$80.32	—	COM	09073m104
—	GOOSEHEAD INSURANCE, INC.	783,615 (-25.0%)	$33.43M (-56.6%)	0.6%	$68.39	—	COM	38267d109
—	WASTE CONNECTIONS INC	859,515 (-17.4%)	$140M (-23.5%)	2.7%	$142.76	—	COM	94106b101
—	APPFOLIO, INC	320,512 (-20.2%)	$50.58M (-45.8%)	1.0%	$200.78	—	COM	03783c100
—	ALPHABET INC CL C	756,817 (-8.3%)	$217M (-16.1%)	4.2%	$123.76	—	COM	02079k107
—	KINSALE CAPITAL GROUP INC.	248,937 (-21.2%)	$85.05M (-31.1%)	1.6%	$368.40	—	COM	49714p108
—	MASTERCARD INC CL A	287,119 (-9.8%)	$143M (-21.0%)	2.7%	$394.48	—	COM	57636q104
RGEN	REPLIGEN CORPORATION	365,115 (-26.3%)	$43.02M (-47.0%)	0.8%	$154.03	-1.1%	COM	759916109
AMZN	AMAZON.COM INC	796,428 (-8.9%)	$166M (-17.8%)	3.2%	$120.32	+88.5%	COM	023135106
—	PROCORE TECHNOLOGIES INC	860,181 (-24.9%)	$49.03M (-41.2%)	0.9%	$70.59	—	COM	74275k108
TYL	TYLER TECHNOLOGIES INC	169,677 (-15.7%)	$58.09M (-36.4%)	1.1%	$479.93	-19.8%	COM	902252105
CDNS	CADENCE DESIGN SYSTEMS INC.	288,044 (-19.7%)	$80.04M (-28.6%)	1.5%	$281.85	+7.6%	COM	127387108
DHR	DANAHER CORP	431,292 (-11.2%)	$81.77M (-26.5%)	1.6%	$102.67	+118.8%	COM	235851102
—	PTC INC	180,589 (-41.1%)	$25.73M (-51.9%)	0.5%	$165.92	—	COM	69370c100
—	SERVICENOW INC	349,563 (-16.3%)	$36.55M (-42.9%)	0.7%	$262.36	—	COM	81762p102
MANH	MANHATTAN ASSOCS INC COM	388,625 (-14.9%)	$51.73M (-34.6%)	1.0%	$204.36	-23.8%	COM	562750109
TEAM	ATLASSIAN CORPORATION CL A	110,497 (-46.0%)	$7.541M (-77.3%)	0.1%	$171.61	-34.0%	COM	049468101
MKL	MARKEL GROUP INC	26,536 (-22.7%)	$50.79M (-31.2%)	1.0%	$942.91	+120.4%	COM	570535104
HLNE	HAMILTON LANE INC	156,864 (-43.1%)	$15.59M (-57.9%)	0.3%	$90.71	+49.6%	COM	407497106
—	VERISK ANALYTICS INC	107,267 (-40.4%)	$20.35M (-49.4%)	0.4%	$234.88	—	COM	92345y106
MPWR	MONOLITHIC PWR SYS INC COM	88,549 (-30.4%)	$96.82M (-16.1%)	1.9%	$588.18	+87.8%	COM	609839105
MTD	METTLER TOLEDO INTL	19,679 (-36.4%)	$24.82M (-42.5%)	0.5%	$1276.92	+10.7%	COM	592688105
DSGX	THE DESCARTES SYSTEMS GROUP IN	183,478 (-47.9%)	$13.13M (-57.5%)	0.3%	$80.21	-5.7%	COM	249906108
FND	FLOOR & DECOR HOLDINGS, INC.	638,003 (-21.7%)	$32.41M (-34.6%)	0.6%	$80.71	-13.3%	COM	339750101
QCOM	QUALCOMM INC	211,130 (-18.3%)	$27.19M (-38.5%)	0.5%	$98.08	+56.9%	COM	747525103
ODFL	OLD DOMINION FGHT LINES INC CO	168,508 (-46.2%)	$32.93M (-32.9%)	0.6%	$163.90	+11.7%	COM	679580100
BRO	BROWN & BROWN	232,798 (-39.8%)	$15.18M (-50.8%)	0.3%	$93.55	-20.7%	COM	115236101
MORN	MORNINGSTAR INC	102,371 (-29.7%)	$17.31M (-45.3%)	0.3%	$266.36	-28.6%	COM	617700109
—	SITEONE LANDSCAPE SUPPLY, INC.	236,148 (-33.8%)	$31.43M (-29.2%)	0.6%	$162.31	—	COM	82982l103
—	UBER TECHNOLOGIES, INC.	755,581 (-7.6%)	$54.35M (-18.6%)	1.0%	$74.56	—	COM	90353t100
BAH	BOOZ ALLEN HAMILTON HOLDING CO	260,522 (-31.3%)	$20.33M (-36.5%)	0.4%	$116.49	-25.3%	COM	099502106
—	AGILYSYS INC	184,925 (-8.8%)	$13.16M (-45.4%)	0.3%	$104.61	—	COM	00847j105
—	NOVANTA INC COM NPV	386,877 (-17.3%)	$45.69M (-17.9%)	0.9%	$120.14	—	COM	67000b104
MCHP	MICROCHIP TECH INC	230,384 (-40.9%)	$14.89M (-40.1%)	0.3%	$74.76	+1.3%	COM	595017104
AAPL	APPLE INC	234,123 (-7.5%)	$59.42M (-13.7%)	1.1%	$192.69	+36.4%	COM	037833100
—	ENTEGRIS INC	142,363 (-51.6%)	$16.69M (-32.7%)	0.3%	$103.17	—	COM	29362u104
ALRM	ALARM.COM	299,977 (-26.9%)	$12.96M (-38.1%)	0.2%	$62.98	-22.9%	COM	011642105
CWST	CASELLA WASTE SYSTEMS INC CL A	327,585 (-4.6%)	$25.99M (-22.7%)	0.5%	$95.50	+6.5%	COM	147448104
FAST	FASTENAL CO	2,667,297 (-8.0%)	$124M (+6.4%)	2.4%	$22.04	+100.9%	COM	311900104
—	DOUGLAS DYNAMICS INC	246,325 (-54.3%)	$10.37M (-41.1%)	0.2%	$28.57	—	COM	25960r105
—	CROWDSTRIKE HOLDINGS, INC.	55,996 (-9.5%)	$21.86M (-24.6%)	0.4%	$195.81	—	COM	22788c105
—	EAGLE MATERIALS INC	74,711 (-26.6%)	$14.15M (-32.7%)	0.3%	$209.71	—	COM	26969p108
MUSA	MURPHY USA INC COM	22,997 (-48.8%)	$11.36M (-37.3%)	0.2%	$346.86	+19.0%	COM	626755102
HAYW	HAYWARD HOLDINGS INC	2,154,356 (-5.4%)	$28.83M (-18.1%)	0.6%	$14.51	+12.1%	COM	421298100
—	IDEXX LABS INC	40,023 (-5.7%)	$22.49M (-21.7%)	0.4%	$309.51	—	COM	45168d104
ROP	ROPER TECHNOLOGIES INC	35,563 (-13.7%)	$12.58M (-31.4%)	0.2%	$163.99	+130.6%	COM	776696106
—	AMERICAN TOWER CORP	131,882 (-17.6%)	$22.76M (-19.0%)	0.4%	$193.94	—	COM	03027x100
SHW	SHERWIN-WILLIAMS CO	105,986 (-10.8%)	$33.97M (-11.8%)	0.7%	$251.81	+41.1%	COM	824348106
—	ASML HOLDINGS N.V.	60,467 (-14.6%)	$79.87M (+5.4%)	1.5%	$902.27	—	COM	n07059210
LMAT	LEMAITRE VASCULAR	165,341 (-5.1%)	$18.05M (+27.8%)	0.3%	$49.15	+77.3%	COM	525558201
SNPS	SYNOPSYS INC	26,382 (-9.0%)	$10.46M (-23.2%)	0.2%	$565.30	-16.6%	COM	871607107
—	J P MORGAN CHASE & CO	29,669 (-18.5%)	$8.727M (-25.6%)	0.2%	$163.46	—	COM	46625h100
—	RBC BEARINGS INC	73,409 (-23.1%)	$39.87M (-6.9%)	0.8%	$316.32	—	COM	75524b104
—	CORE & MAIN INC CL A	474,350 (-5.4%)	$23.43M (-10.1%)	0.4%	$38.97	—	COM	21874c102
—	SHOPIFY INC.	23,770 (-28.7%)	$2.82M (-47.5%)	0.1%	$65.25	—	COM	82509l107
—	ABBVIE INC SHS	25,819 (-24.7%)	$5.615M (-28.3%)	0.1%	$142.05	—	COM	00287y109
ADP	AUTO DATA PROCESSING	17,232 (-21.3%)	$3.501M (-37.8%)	0.1%	$151.88	+58.6%	COM	053015103
LLY	LILLY ELI & CO	3,100 (-30.6%)	$2.851M (-40.6%)	0.1%	$364.11	+187.6%	COM	532457108
JNJ	JOHNSON & JOHNSON	53,623 (-1.3%)	$13.11M (+16.6%)	0.3%	$118.02	+93.1%	COM	478160104
—	T ROWE PRICE GROUP INC	57,170 (-14.7%)	$5.153M (-24.9%)	0.1%	$111.40	—	COM	74144t108
—	HEALTHEQUITY, INC.	133,782 (-4.6%)	$11.18M (-12.9%)	0.2%	$67.71	—	COM	42226a107
—	ORACLE CORP	7,546 (-43.2%)	$1.11M (-57.1%)	0.0%	$208.35	—	COM	68389x105
LVMUY	LVMH MOET HENNESSY LOU VUITTON	4,913 (-63.2%)	$537K (-73.3%)	0.0%	$145.21	—	COM	502441306
—	TERRENO REALTY CORP	16,552 (-59.5%)	$1.017M (-57.6%)	0.0%	$62.12	—	COM	88146m101
ABT	ABBOTT LABORATORIES	25,207 (-17.8%)	$2.588M (-32.7%)	0.0%	$119.35	-3.3%	COM	002824100
BRK/A	BERKSHIRE HATHAWAY INC DELAWA	12 (-7.7%)	$8.618M (-12.2%)	0.2%	$388661.53	+90.5%	COM	084670108
ADI	ANALOG DEVICES INC	4,751 (-48.5%)	$1.511M (-39.6%)	0.0%	$159.03	+98.8%	COM	032654105
—	NEXTERA ENERGY INC SHS	11,276 (-55.1%)	$1.047M (-48.1%)	0.0%	$84.73	—	COM	65339f101
LOW	LOWE'S COMPANIES INC	17,099 (-17.5%)	$4.04M (-19.2%)	0.1%	$102.73	+164.3%	COM	548661107
—	O REILLY AUTOMOTIVE	471,882 (-3.3%)	$43.56M (-2.1%)	0.8%	$114.52	—	COM	67103h107
PAYX	PAYCHEX INC	29,233 (-9.7%)	$2.693M (-25.9%)	0.1%	$82.15	+24.1%	COM	704326107
—	MARKETAXESS HLDGS INC COM	41,000 (-2.6%)	$6.764M (-11.4%)	0.1%	$223.34	—	COM	57060d108
BRK/B	BERKSHIRE HATHAWAY INC CL B	20,638 (-3.4%)	$9.89M (-7.9%)	0.2%	$200.78	+145.8%	COM	084670702
—	EXPONENT INC	114,920 (-3.6%)	$7.499M (-9.4%)	0.1%	$97.94	—	COM	30214u102
DIS	WALT DISNEY CO	10,902 (-32.1%)	$1.051M (-42.5%)	0.0%	$105.53	+3.7%	COM	254687106
—	LINDE PLC SHS	1,508 (-57.4%)	$748K (-50.5%)	0.0%	$433.62	—	COM	g54950103
—	MERCK & CO. INC.	22,689 (-30.9%)	$2.729M (-21.1%)	0.1%	$81.50	—	COM	58933y105
—	SBA COMMUNICATIONS CORP CL A	3,686 (-47.5%)	$634K (-53.3%)	0.0%	$231.76	—	COM	78410g104
—	COSTCO WHOLESALE CO	14,536 (-9.0%)	$14.48M (+5.1%)	0.3%	$456.30	—	COM	22160k105
—	NXP SEMICONDUCTORS	2,111 (-57.3%)	$416K (-61.2%)	0.0%	$230.51	—	COM	n6596x109
HUBB	HUBBELL INC	1,009 (-59.8%)	$495K (-55.6%)	0.0%	$403.40	+22.8%	COM	443510607
WMT	WALMART INC	5,952 (-50.6%)	$740K (-44.9%)	0.0%	$47.38	+157.5%	COM	931142103
MRSH	MARSH COM	2,816 (-50.8%)	$488K (-54.0%)	0.0%	$158.48	+14.4%	COM	571748102
BAC	BANK AMER CORP COM	7,613 (-54.5%)	$371K (-59.7%)	0.0%	$44.60	+20.3%	COM	060505104
—	EOG RES INC COM	2,499 (-70.5%)	$361K (-59.3%)	0.0%	$120.22	—	COM	26875p101
VOO	VANGUARD S&P 500 ETF	14,316 (-1.1%)	$8.555M (-5.7%)	0.2%	$313.50	—	ETFS	922908363
—	McKESSON CORP	578 (-53.3%)	$500K (-50.7%)	0.0%	$773.08	—	COM	58155q103
—	APPLIED INDL TECHNOLOGIES INC	90,256 (-5.3%)	$23.95M (-2.1%)	0.5%	$232.56	—	COM	03820c105
MKC	MCCORMICK & CO INC COM NON VTG	21,204 (-8.6%)	$1.07M (-32.3%)	0.0%	$58.29	+14.4%	COM	579780206
—	EXXON MOBIL CORP	12,355 (-6.4%)	$2.096M (+31.9%)	0.0%	$94.03	—	COM	30231g102
TSCO	TRACTOR SUPPLY COMP	31,850 (-17.6%)	$1.443M (-25.4%)	0.0%	$58.52	-9.9%	COM	892356106
MDLZ	MONDELEZ INTL INC	14,857 (-40.4%)	$856K (-36.2%)	0.0%	$58.17	-0.0%	COM	609207105
ESE	ESCO TECHNOLOGIES INC	73,142 (-32.2%)	$20.58M (-2.3%)	0.4%	$185.50	+29.2%	COM	296315104
—	CONSTELLATION SOFTWARE F	573 (-7.7%)	$1.008M (-32.4%)	0.0%	$678.09	—	COM	21037x100
—	RANGE RESOURCES CORP DEL	53,760 (-3.6%)	$2.429M (+23.5%)	0.0%	$31.17	—	COM	75281a109
FISV	FISERV INC COM	31,335 (-3.4%)	$1.748M (-19.7%)	0.0%	$64.57	-1.0%	COM	337738108
—	META PLATFORMS INC CL A	3,836 (-2.4%)	$2.195M (-15.4%)	0.0%	$621.73	—	COM	30303m102
—	BOOKING HOLDING, INC.	95 (-36.2%)	$400K (-49.9%)	0.0%	$3878.97	—	COM	09857l108
CVX	CHEVRON CORP	8,487 (-39.6%)	$1.756M (-18.0%)	0.0%	$132.48	+29.7%	COM	166764100
—	CAMECO CORP	27,701 (-24.2%)	$3.009M (-10.1%)	0.1%	$34.20	—	COM	13321l108
—	EDWARDS LIFESCIENCES	19,253 (-12.4%)	$1.542M (-17.7%)	0.0%	$74.34	—	COM	28176e108
PNC	PNC FINL SERVICES	2,121 (-41.1%)	$441K (-41.3%)	0.0%	$115.00	+95.6%	COM	693475105
WAB	WABTEC	9,643 (-2.0%)	$2.41M (+14.7%)	0.0%	$68.71	+247.8%	COM	929740108
HD	HOME DEPOT INC	9,178 (-5.0%)	$3.019M (-9.2%)	0.1%	$273.87	+37.7%	COM	437076102
ILMN	ILLUMINA INC	2,683 (-44.0%)	$331K (-47.4%)	0.0%	$227.77	-40.5%	COM	452327109
WPM	WHEATON PRECIOUS METALS CORP	17,450 (-19.8%)	$2.286M (-10.6%)	0.0%	$53.03	+163.7%	COM	962879102
—	ACCENTURE PLC F CLASS A	1,870 (-21.7%)	$371K (-42.1%)	0.0%	$245.10	—	COM	g1151c101
SBUX	STARBUCKS CORP COM	8,186 (-30.6%)	$733K (-26.2%)	0.0%	$84.83	+10.4%	COM	855244109
—	BLACKSTONE GROUP ORD SHS CLASS	5,499 (-3.4%)	$632K (-28.0%)	0.0%	$131.37	—	COM	09260d107
—	UNITEDHEALTH GRP INC	2,518 (-5.9%)	$681K (-22.9%)	0.0%	$254.32	—	COM	91324p102
—	NVIDIA CORP	6,100 (-8.2%)	$1.064M (-14.1%)	0.0%	$174.89	—	COM	67066g104
SSD	SIMPSON MANUFACTURING CO	68,667 (-4.6%)	$11.78M (+1.4%)	0.2%	$127.66	+47.0%	COM	829073105
KO	COCA COLA COM	36,280 (-2.4%)	$2.759M (+6.1%)	0.1%	$58.29	+28.2%	COM	191216100
—	EAST WEST BANCORP INC	6,100 (-14.1%)	$651K (-18.4%)	0.0%	$36.00	—	COM	27579r104
FNV	FRANCO-NEVADA CORPORATION	9,850 (-12.1%)	$2.433M (+4.7%)	0.0%	$127.59	+92.6%	COM	351858105
PFE	PFIZER INC	43,142 (-2.7%)	$1.211M (+9.7%)	0.0%	$23.52	+11.3%	COM	717081103
PG	PROCTER & GAMBLE CO	129,532 (-1.2%)	$18.71M (-0.4%)	0.4%	$80.24	+89.1%	COM	742718109
HON	HONEYWELL INTL INC	3,948 (-19.3%)	$892K (-6.5%)	0.0%	$179.08	+26.2%	COM	438516106
INTC	INTEL CORP	23,837 (-11.6%)	$1.052M (+5.7%)	0.0%	$19.90	+133.3%	COM	458140100
—	COMCAST CORP NEW CL A	16,584 (-5.2%)	$476K (-8.9%)	0.0%	$35.61	—	COM	20030n101
—	VERIZON COMMUNICATN	7,364 (-27.6%)	$370K (-10.8%)	0.0%	$46.95	—	COM	92343v104
—	CANADIAN PACIFIC KANSAS CITY C	7,101 (-13.0%)	$559K (-7.1%)	0.0%	$80.47	—	COM	13646k108
PM	PHILIP MORRIS INTL	2,890 (-10.8%)	$478K (-8.1%)	0.0%	$166.23	+5.8%	COM	718172109
VIG	VANGUARD DIVIDEND APPREC	5,189 (-1.1%)	$1.116M (-3.3%)	0.0%	$130.04	—	ETFS	921908844
USB	U S BANCORP	10,720 (-3.2%)	$558K (-5.6%)	0.0%	$27.85	+103.4%	COM	902973304
—	PROLOGIS INC.	1,919 (-13.4%)	$254K (-10.3%)	0.0%	$105.87	—	COM	74340w103
—	EMCOR GROUP INC	540 (-10.7%)	$399K (+7.7%)	0.0%	$350.20	—	COM	29084q100
VEU	VANGUARD FTSE ALL WORLD EX US	57,018 (-2.4%)	$4.282M (-0.4%)	0.1%	$49.07	—	ETFS	922042775
—	KADANT INC	46,393 (-2.5%)	$13.56M (-0.0%)	0.3%	$290.29	—	COM	48282t104
ONTO	ONTO INNOVATION INC	93,581 (-23.0%)	$19.19M (+0.0%)	0.4%	$118.87	+74.0%	COM	683344105
—	ALTRIA GROUP INC	3,886 (-13.4%)	$256K (-0.9%)	0.0%	$58.63	—	COM	02209s103

Unchanged Positions (56)

— ALPHABET INC. CLASS A 0.2%

Value $10.57M Shares 36,741 Est. Cost $172.88 Unrealized —

— CROWN CASTLE INC 0.0%

Value $2.166M Shares 26,636 Est. Cost $91.50 Unrealized —

IBM IBM CORP 0.0%

Value $911K Shares 3,757 Est. Cost $129.79 Unrealized +118.8%

EPD ENTERPRISE PRODS PART LP 0.0%

Value $1.295M Shares 34,232 Est. Cost $31.20 Unrealized —

GWW GRAINGER W W INC COM 0.0%

Value $2.552M Shares 2,340 Est. Cost $1000.75 Unrealized +9.4%

— QUANTA SVCS INC COM 0.0%

Value $729K Shares 1,328 Est. Cost $422.06 Unrealized —

PEP PEPSICO INC 0.0%

Value $1.997M Shares 12,863 Est. Cost $114.15 Unrealized +35.6%

— CONOCOPHILLIPS 0.0%

Value $436K Shares 3,300 Est. Cost $105.87 Unrealized —

CAT CATERPILLAR INC DEL COM 0.0%

Value $604K Shares 852 Est. Cost $303.00 Unrealized +125.9%

— KEYSIGHT TECHNOLOGIES INC 0.0%

Value $402K Shares 1,425 Est. Cost $50.24 Unrealized —

DXCM DEXCOM INC 0.0%

Value $1.59M Shares 25,317 Est. Cost $83.84 Unrealized -15.4%

OKE ONEOK INC 0.0%

Value $432K Shares 4,781 Est. Cost $57.97 Unrealized +35.5%

BP BP PLC 0.0%

Value $308K Shares 6,555 Est. Cost $29.99 Unrealized —

— W E C ENERGY GROUP INC 0.0%

Value $895K Shares 7,732 Est. Cost $113.70 Unrealized —

— 3M COMPANY 0.0%

Value $722K Shares 4,971 Est. Cost $144.64 Unrealized —

CL COLGATE-PALMOLIVE CO 0.0%

Value $976K Shares 11,453 Est. Cost $49.68 Unrealized +78.6%

APD AIR PROD & CHEMICALS 0.0%

Value $398K Shares 1,370 Est. Cost $251.65 Unrealized +7.9%

CNI CANADIAN NATL RAILWY F 0.0%

Value $1.531M Shares 14,900 Est. Cost $45.58 Unrealized +124.0%

— EATON CORP PLC SHS 0.0%

Value $525K Shares 1,467 Est. Cost $208.45 Unrealized —

TRMB TRIMBLE INC 0.0%

Value $283K Shares 4,345 Est. Cost $42.24 Unrealized +68.1%

— SPDR GOLD TRUST 0.0%

Value $673K Shares 1,565 Est. Cost $145.32 Unrealized —

TJX TJX COMPANIES INC 0.0%

Value $1.376M Shares 8,619 Est. Cost $104.63 Unrealized +47.4%

NEOG NEOGEN CORP COM 0.0%

Value $204K Shares 22,000 Est. Cost $31.13 Unrealized -67.8%

WRB BERKLEY W R CORP 0.0%

Value $864K Shares 13,040 Est. Cost $31.93 Unrealized +117.5%

— WISDOMTREE TR INDIA ERNGS FD 0.0%

Value $367K Shares 9,000 Est. Cost $34.80 Unrealized —

MIDD MIDDLEBY CORP 0.0%

Value $402K Shares 3,031 Est. Cost $116.32 Unrealized +33.6%

AMGN AMGEN INC. 0.0%

Value $680K Shares 1,933 Est. Cost $165.14 Unrealized +111.7%

MP MP MATERIALS CORP COM CL A 0.0%

Value $800K Shares 16,587 Est. Cost $63.41 Unrealized -2.6%

PNW PINNACLE WEST CAP CORP 0.0%

Value $302K Shares 3,000 Est. Cost $62.50 Unrealized +49.6%

IYW ISHARES TR U.S. TECH ETF 0.0%

Value $347K Shares 1,910 Est. Cost $108.87 Unrealized —

— VANGUARD INFO TECHNOLOGY INDEX 0.0%

Value $399K Shares 572 Est. Cost $311.91 Unrealized —

SO SOUTHERN COMPANY 0.0%

Value $322K Shares 3,341 Est. Cost $49.70 Unrealized +80.1%

— ISHARES MSCI EMERGING MARKETS 0.0%

Value $388K Shares 4,930 Est. Cost $60.65 Unrealized —

— SPDR FUND CONSUMER DISCRE SELE 0.0%

Value $291K Shares 2,674 Est. Cost $135.53 Unrealized —

— TECHNOLOGY SELECT SECTOR SPDR 0.0%

Value $254K Shares 1,912 Est. Cost $198.60 Unrealized —

— VENTAS INC REIT 0.0%

Value $387K Shares 4,729 Est. Cost $62.98 Unrealized —

— W.P. CAREY INC. REIT 0.0%

Value $371K Shares 5,464 Est. Cost $64.59 Unrealized —

— VANGUARD HEALTH CARE 0.0%

Value $328K Shares 1,204 Est. Cost $204.32 Unrealized —

GE GE AEROSPACE 0.0%

Value $210K Shares 741 Est. Cost $272.69 Unrealized +16.7%

BOH BANK OF HAWAII CORP 0.0%

Value $225K Shares 3,025 Est. Cost $64.69 Unrealized +15.2%

RPM RPM INTERNATIONAL INC 0.0%

Value $363K Shares 3,650 Est. Cost $50.33 Unrealized +122.8%

SYY SYSCO CORP COM 0.0%

Value $469K Shares 6,576 Est. Cost $78.77 Unrealized +4.4%

SHBI SHORE BANCSHARES, INC. 0.0%

Value $271K Shares 14,500 Est. Cost $17.50 Unrealized +8.1%

— STATE STREET SPDR S&P 500 ETF 0.0%

Value $264K Shares 406 Est. Cost $491.22 Unrealized —

— FLAHERTY & CRUMRINE PFD SECS I 0.0%

Value $190K Shares 12,298 Est. Cost $20.23 Unrealized —

— SPDR BLOOMBERG SHORT TERM INTE 0.0%

Value $600K Shares 22,300 Est. Cost $26.26 Unrealized —

ISHG ISHARES 1-3 YEAR INTERNATIONAL 0.0%

Value $623K Shares 8,400 Est. Cost $70.38 Unrealized —

NSC NORFOLK SOUTHERN CO 0.0%

Value $1.298M Shares 4,521 Est. Cost $207.35 Unrealized +43.8%

— CALAMOS CONV OPP AND INC FD SH 0.0%

Value $316K Shares 29,418 Est. Cost $15.13 Unrealized —

VEA VANGUARD FTSE DEVELOPED MARKET 0.0%

Value $259K Shares 4,045 Est. Cost $47.90 Unrealized —

VWO VANGUARD FTSE EMERGING MARKETS 0.0%

Value $1.075M Shares 19,896 Est. Cost $41.55 Unrealized —

— GAMCO GLOBAL GOLD NAT RES & IN 0.0%

Value $125K Shares 23,470 Est. Cost $3.68 Unrealized —

NSRGY NESTLE S A F SPONSORED ADR 1 A 0.0%

Value $713K Shares 7,192 Est. Cost $97.20 Unrealized —

DKS DICK'S SPORTING GOODS INC. 0.0%

Value $1.086M Shares 5,475 Est. Cost $215.56 Unrealized -3.5%

VNQ VANGUARD REIT ETF 0.0%

Value $490K Shares 5,522 Est. Cost $84.94 Unrealized —

— MERGENET SOLUTIONS INC COM 0.0%

Value $10,000 Shares 10,000 Est. Cost $1.00 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	ALPHABET INC. CLASS A	36,741	$10.57M	0.2%	$172.88	—	COM	02079k305
—	CROWN CASTLE INC	26,636	$2.166M	0.0%	$91.50	—	COM	22822v101
IBM	IBM CORP	3,757	$911K	0.0%	$129.79	+118.8%	COM	459200101
EPD	ENTERPRISE PRODS PART LP	34,232	$1.295M	0.0%	$31.20	—	COM	293792107
GWW	GRAINGER W W INC COM	2,340	$2.552M	0.0%	$1000.75	+9.4%	COM	384802104
—	QUANTA SVCS INC COM	1,328	$729K	0.0%	$422.06	—	COM	74762e102
PEP	PEPSICO INC	12,863	$1.997M	0.0%	$114.15	+35.6%	COM	713448108
—	CONOCOPHILLIPS	3,300	$436K	0.0%	$105.87	—	COM	20825c104
CAT	CATERPILLAR INC DEL COM	852	$604K	0.0%	$303.00	+125.9%	COM	149123101
—	KEYSIGHT TECHNOLOGIES INC	1,425	$402K	0.0%	$50.24	—	COM	49338l103
DXCM	DEXCOM INC	25,317	$1.59M	0.0%	$83.84	-15.4%	COM	252131107
OKE	ONEOK INC	4,781	$432K	0.0%	$57.97	+35.5%	COM	682680103
BP	BP PLC	6,555	$308K	0.0%	$29.99	—	COM	055622104
—	W E C ENERGY GROUP INC	7,732	$895K	0.0%	$113.70	—	COM	92939u106
—	3M COMPANY	4,971	$722K	0.0%	$144.64	—	COM	88579y101
CL	COLGATE-PALMOLIVE CO	11,453	$976K	0.0%	$49.68	+78.6%	COM	194162103
APD	AIR PROD & CHEMICALS	1,370	$398K	0.0%	$251.65	+7.9%	COM	009158106
CNI	CANADIAN NATL RAILWY F	14,900	$1.531M	0.0%	$45.58	+124.0%	COM	136375102
—	EATON CORP PLC SHS	1,467	$525K	0.0%	$208.45	—	COM	g29183103
TRMB	TRIMBLE INC	4,345	$283K	0.0%	$42.24	+68.1%	COM	896239100
—	SPDR GOLD TRUST	1,565	$673K	0.0%	$145.32	—	ETFS	78463v107
TJX	TJX COMPANIES INC	8,619	$1.376M	0.0%	$104.63	+47.4%	COM	872540109
NEOG	NEOGEN CORP COM	22,000	$204K	0.0%	$31.13	-67.8%	COM	640491106
WRB	BERKLEY W R CORP	13,040	$864K	0.0%	$31.93	+117.5%	COM	084423102
—	WISDOMTREE TR INDIA ERNGS FD	9,000	$367K	0.0%	$34.80	—	ETFS	97717w422
MIDD	MIDDLEBY CORP	3,031	$402K	0.0%	$116.32	+33.6%	COM	596278101
AMGN	AMGEN INC.	1,933	$680K	0.0%	$165.14	+111.7%	COM	031162100
MP	MP MATERIALS CORP COM CL A	16,587	$800K	0.0%	$63.41	-2.6%	COM	553368101
PNW	PINNACLE WEST CAP CORP	3,000	$302K	0.0%	$62.50	+49.6%	COM	723484101
IYW	ISHARES TR U.S. TECH ETF	1,910	$347K	0.0%	$108.87	—	ETFS	464287721
—	VANGUARD INFO TECHNOLOGY INDEX	572	$399K	0.0%	$311.91	—	ETFS	92204a702
SO	SOUTHERN COMPANY	3,341	$322K	0.0%	$49.70	+80.1%	COM	842587107
—	ISHARES MSCI EMERGING MARKETS	4,930	$388K	0.0%	$60.65	—	ETFS	46434g764
—	SPDR FUND CONSUMER DISCRE SELE	2,674	$291K	0.0%	$135.53	—	ETFS	81369y407
—	TECHNOLOGY SELECT SECTOR SPDR	1,912	$254K	0.0%	$198.60	—	ETFS	81369y803
—	VENTAS INC REIT	4,729	$387K	0.0%	$62.98	—	COM	92276f100
—	W.P. CAREY INC. REIT	5,464	$371K	0.0%	$64.59	—	COM	92936u109
—	VANGUARD HEALTH CARE	1,204	$328K	0.0%	$204.32	—	ETFS	92204a504
GE	GE AEROSPACE	741	$210K	0.0%	$272.69	+16.7%	COM	369604301
BOH	BANK OF HAWAII CORP	3,025	$225K	0.0%	$64.69	+15.2%	COM	062540109
RPM	RPM INTERNATIONAL INC	3,650	$363K	0.0%	$50.33	+122.8%	COM	749685103
SYY	SYSCO CORP COM	6,576	$469K	0.0%	$78.77	+4.4%	COM	871829107
SHBI	SHORE BANCSHARES, INC.	14,500	$271K	0.0%	$17.50	+8.1%	COM	825107105
—	STATE STREET SPDR S&P 500 ETF	406	$264K	0.0%	$491.22	—	ETFS	78462f103
—	FLAHERTY & CRUMRINE PFD SECS I	12,298	$190K	0.0%	$20.23	—	COM	338478100
—	SPDR BLOOMBERG SHORT TERM INTE	22,300	$600K	0.0%	$26.26	—	ETFS	78464a334
ISHG	ISHARES 1-3 YEAR INTERNATIONAL	8,400	$623K	0.0%	$70.38	—	ETFS	464288125
NSC	NORFOLK SOUTHERN CO	4,521	$1.298M	0.0%	$207.35	+43.8%	COM	655844108
—	CALAMOS CONV OPP AND INC FD SH	29,418	$316K	0.0%	$15.13	—	COM	128117108
VEA	VANGUARD FTSE DEVELOPED MARKET	4,045	$259K	0.0%	$47.90	—	ETFS	921943858
VWO	VANGUARD FTSE EMERGING MARKETS	19,896	$1.075M	0.0%	$41.55	—	ETFS	922042858
—	GAMCO GLOBAL GOLD NAT RES & IN	23,470	$125K	0.0%	$3.68	—	COM	36465a109
NSRGY	NESTLE S A F SPONSORED ADR 1 A	7,192	$713K	0.0%	$97.20	—	COM	641069406
DKS	DICK'S SPORTING GOODS INC.	5,475	$1.086M	0.0%	$215.56	-3.5%	COM	253393102
VNQ	VANGUARD REIT ETF	5,522	$490K	0.0%	$84.94	—	ETFS	922908553
—	MERGENET SOLUTIONS INC COM	10,000	$10,000	0.0%	$1.00	—	COM	58950m109