BOWEN HANES & CO INC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SOLS	SOLSTICE ADVANCED MATL	979,398	$48	1.2%	$47.08	0.0%	COM	83443Q103
MTZ	MASTEC INC COM	195,440	$42	1.1%	$209.86	0.0%	COM	576323109
ITT	ITT INC	213,000	$37	0.9%	$179.17	0.0%	COM	45073V108
VIAV	VIAVI SOLUTIONS	1,870,000	$33	0.8%	$16.15	0.0%	COM	925550105
FN	FABRINET SHS (CI)	50,000	$23	0.6%	$435.01	0.0%	COM	G3323L100
ROL	ROLLINS INC	372,645	$22	0.6%	$58.66	0.0%	COM	775711104
—	CHARTWELL RETIREMENT (CA)	840,000	$12	0.3%	$0.01	—	COM	16141a103
ETR	ENTERGY CORP	8,480	$1	0.0%	$94.54	0.0%	COM	29364G103
BMY	BRISTOL-MYERS SQUIBB	10,045	$1	0.0%	$47.53	0.0%	COM	110122108
—	NOVARTIS AG ADS (SZ)	2,800	$0	0.0%	$0.14	—	COM	66987v109
GILD	GILEAD SCIENCES	3,020	$0	0.0%	$120.88	0.0%	COM	375558103
MFC	MANULIFE FINL CORP ADR (CA)	7,160	$0	0.0%	$33.94	0.0%	COM	56501R106
APD	AIR PRODUCTS AND CHEMICALS	1,045	$0	0.0%	$251.65	0.0%	COM	009158106
MRK	MERCK & CO INC NEW	2,204	$0	0.0%	$93.24	0.0%	COM	58933Y105

Increased Positions (24)

TDY TELEDYNE TECHNOLOGIES 2.4%

Value ($000) $95 (-99.9%) Shares 185,504 (+1.1%) Est. Cost $89.42 Unrealized +489.3%

NFLX NETFLIX INC 1.9%

Value ($000) $76 (-99.9%) Shares 814,694 (+844.0%) Est. Cost $99.61 Unrealized +8.2%

ISRG INTUITIVE SURGICAL 2.5%

Value ($000) $101 (-99.9%) Shares 179,190 (+2.7%) Est. Cost $381.90 Unrealized +39.4%

MSI MOTOROLA SOLUTIONS 1.7%

Value ($000) $66 (-99.9%) Shares 172,300 (+2.2%) Est. Cost $238.75 Unrealized +67.9%

ETN EATON CORP (IL) 1.6%

Value ($000) $65 (-99.9%) Shares 203,355 (+3.9%) Est. Cost $232.37 Unrealized +52.5%

UNP UNION PACIFIC 1.8%

Value ($000) $72 (-99.9%) Shares 313,143 (+2.4%) Est. Cost $94.12 Unrealized +141.5%

HWKN HAWKINS INC COM 1.3%

Value ($000) $52 (-99.9%) Shares 364,970 (+18.8%) Est. Cost $88.34 Unrealized +66.7%

BA BOEING 1.5%

Value ($000) $62 (-99.9%) Shares 283,670 (+9.6%) Est. Cost $222.90 Unrealized -7.7%

TXN TEXAS INSTRUMENTS 1.5%

Value ($000) $58 (-99.9%) Shares 333,162 (+14.4%) Est. Cost $51.06 Unrealized +234.3%

AMZN AMAZON.COM INC 1.7%

Value ($000) $67 (-99.9%) Shares 292,402 (+24.9%) Est. Cost $185.16 Unrealized +23.6%

VRTX VERTEX PHARMACEUTICALS 1.5%

Value ($000) $61 (-99.9%) Shares 133,504 (+7.3%) Est. Cost $154.70 Unrealized +178.6%

ELAN ELANCO ANIMAL HEALTH 1.5%

Value ($000) $59 (-99.9%) Shares 2,623,770 (+11.0%) Est. Cost $17.25 Unrealized +26.2%

MIELY MITSUBISHI ELEC CORP (JP) 0.9%

Value ($000) $38 (-99.9%) Shares 650,000 (+30.0%) Est. Cost $39.44 Unrealized —

MA MASTERCARD INC CL A 0.4%

Value ($000) $16 (-99.9%) Shares 28,100 (+9.1%) Est. Cost $466.54 Unrealized +19.8%

BMI BADGER METER INC 1.1%

Value ($000) $45 (-99.6%) Shares 257,280 (+336.3%) Est. Cost $181.03 Unrealized -0.7%

IBM IBM 0.2%

Value ($000) $8 (-99.9%) Shares 26,490 (+3.7%) Est. Cost $248.81 Unrealized +20.1%

KKR KKR & CO INC 0.4%

Value ($000) $15 (-99.8%) Shares 119,195 (+115.2%) Est. Cost $132.15 Unrealized -5.9%

ULTA ULTA BEAUTY INC 0.2%

Value ($000) $8 (-99.9%) Shares 13,290 (+20.9%) Est. Cost $518.84 Unrealized +5.9%

NEE NEXTERA ENERGY 0.1%

Value ($000) $4 (-99.9%) Shares 56,039 (+28.3%) Est. Cost $62.81 Unrealized +31.4%

— SERVICE NOW INC 0.1%

Value ($000) $2 (-99.9%) Shares 14,250 (+384.7%) Est. Cost $212.23 Unrealized —

DIS WALT DISNEY 0.0%

Value ($000) $1 (-99.9%) Shares 10,445 (+15.2%) Est. Cost $89.73 Unrealized +22.1%

DUK DUKE ENERGY CORP NEW 0.0%

Value ($000) $1 (-99.9%) Shares 7,143 (+28.9%) Est. Cost $67.17 Unrealized +81.0%

NSC NORFOLK SOUTHERN 0.0%

Value ($000) $1 (-99.9%) Shares 1,775 (+9.2%) Est. Cost $164.84 Unrealized +75.1%

NEM NEWMONT CORP 0.0%

Value ($000) $0 (-99.9%) Shares 3,844 (+3.9%) Est. Cost $54.30 Unrealized +66.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TDY	TELEDYNE TECHNOLOGIES	185,504 (+1.1%)	$95 (-99.9%)	2.4%	$89.42	+489.3%	COM	879360105
NFLX	NETFLIX INC	814,694 (+844.0%)	$76 (-99.9%)	1.9%	$99.61	+8.2%	COM	64110L106
ISRG	INTUITIVE SURGICAL	179,190 (+2.7%)	$101 (-99.9%)	2.5%	$381.90	+39.4%	COM	46120E602
MSI	MOTOROLA SOLUTIONS	172,300 (+2.2%)	$66 (-99.9%)	1.7%	$238.75	+67.9%	COM	620076307
ETN	EATON CORP (IL)	203,355 (+3.9%)	$65 (-99.9%)	1.6%	$232.37	+52.5%	COM	G29183103
UNP	UNION PACIFIC	313,143 (+2.4%)	$72 (-99.9%)	1.8%	$94.12	+141.5%	COM	907818108
HWKN	HAWKINS INC COM	364,970 (+18.8%)	$52 (-99.9%)	1.3%	$88.34	+66.7%	COM	420261109
BA	BOEING	283,670 (+9.6%)	$62 (-99.9%)	1.5%	$222.90	-7.7%	COM	097023105
TXN	TEXAS INSTRUMENTS	333,162 (+14.4%)	$58 (-99.9%)	1.5%	$51.06	+234.3%	COM	882508104
AMZN	AMAZON.COM INC	292,402 (+24.9%)	$67 (-99.9%)	1.7%	$185.16	+23.6%	COM	023135106
VRTX	VERTEX PHARMACEUTICALS	133,504 (+7.3%)	$61 (-99.9%)	1.5%	$154.70	+178.6%	COM	92532F100
ELAN	ELANCO ANIMAL HEALTH	2,623,770 (+11.0%)	$59 (-99.9%)	1.5%	$17.25	+26.2%	COM	28414H103
MIELY	MITSUBISHI ELEC CORP (JP)	650,000 (+30.0%)	$38 (-99.9%)	0.9%	$39.44	—	COM	606776201
MA	MASTERCARD INC CL A	28,100 (+9.1%)	$16 (-99.9%)	0.4%	$466.54	+19.8%	COM	57636Q104
BMI	BADGER METER INC	257,280 (+336.3%)	$45 (-99.6%)	1.1%	$181.03	-0.7%	COM	056525108
IBM	IBM	26,490 (+3.7%)	$8 (-99.9%)	0.2%	$248.81	+20.1%	COM	459200101
KKR	KKR & CO INC	119,195 (+115.2%)	$15 (-99.8%)	0.4%	$132.15	-5.9%	COM	48251W104
ULTA	ULTA BEAUTY INC	13,290 (+20.9%)	$8 (-99.9%)	0.2%	$518.84	+5.9%	COM	90384S303
NEE	NEXTERA ENERGY	56,039 (+28.3%)	$4 (-99.9%)	0.1%	$62.81	+31.4%	COM	65339F101
—	SERVICE NOW INC	14,250 (+384.7%)	$2 (-99.9%)	0.1%	$212.23	—	COM	81762p102
DIS	WALT DISNEY	10,445 (+15.2%)	$1 (-99.9%)	0.0%	$89.73	+22.1%	COM	254687106
DUK	DUKE ENERGY CORP NEW	7,143 (+28.9%)	$1 (-99.9%)	0.0%	$67.17	+81.0%	COM	26441C204
NSC	NORFOLK SOUTHERN	1,775 (+9.2%)	$1 (-99.9%)	0.0%	$164.84	+75.1%	COM	655844108
NEM	NEWMONT CORP	3,844 (+3.9%)	$0 (-99.9%)	0.0%	$54.30	+66.1%	COM	651639106

Exited Positions (9)

RSG REPUBLIC SVCS 1472.4%

Value ($000) $58,680 Shares 255,710 Est. Cost $185.22 Unrealized +15.9%

SIG SIGNET JEWELERS (BM) 1200.3%

Value ($000) $47,837 Shares 498,715 Est. Cost $85.60 Unrealized +11.0%

TMUS T-MOBILE US INC COM 967.5%

Value ($000) $38,558 Shares 161,075 Est. Cost $236.28 Unrealized -10.6%

NDSN NORDSON CORP 13.5%

Value ($000) $540 Shares 2,379 Est. Cost $189.21 Unrealized +23.8%

AS AMER SPORTS INC 9.3%

Value ($000) $373 Shares 10,720 Est. Cost $37.71 Unrealized -9.0%

DD DUPONT DE NEMOURS 8.8%

Value ($000) $351 Shares 4,500 Est. Cost $29.23 Unrealized +27.9%

SONY SONY CORP (JP) 7.7%

Value ($000) $308 Shares 10,695 Est. Cost $36.24 Unrealized —

ITW ILLINOIS TOOL WORKS 5.2%

Value ($000) $209 Shares 800 Est. Cost $257.33 Unrealized -3.8%

NICE NICE SYS LTD 5.1%

Value ($000) $203 Shares 1,400 Est. Cost $228.89 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RSG	REPUBLIC SVCS	255,710	$58,680	1472.4%	$185.22	+15.9%	—	760759100
SIG	SIGNET JEWELERS (BM)	498,715	$47,837	1200.3%	$85.60	+11.0%	—	G81276100
TMUS	T-MOBILE US INC COM	161,075	$38,558	967.5%	$236.28	-10.6%	—	872590104
NDSN	NORDSON CORP	2,379	$540	13.5%	$189.21	+23.8%	—	655663102
AS	AMER SPORTS INC	10,720	$373	9.3%	$37.71	-9.0%	—	G0260P102
DD	DUPONT DE NEMOURS	4,500	$351	8.8%	$29.23	+27.9%	—	26614N102
SONY	SONY CORP (JP)	10,695	$308	7.7%	$36.24	—	—	835699307
ITW	ILLINOIS TOOL WORKS	800	$209	5.2%	$257.33	-3.8%	—	452308109
NICE	NICE SYS LTD	1,400	$203	5.1%	$228.89	—	—	653656108

Decreased Positions (52)

NVDA NVIDIA CORP COM 3.5%

Value ($000) $139 (-99.9%) Shares 747,545 (-6.6%) Est. Cost $92.51 Unrealized +101.2%

MSFT MICROSOFT 2.4%

Value ($000) $95 (-99.9%) Shares 196,541 (-17.3%) Est. Cost $93.05 Unrealized +438.0%

GLW CORNING 3.1%

Value ($000) $125 (-99.9%) Shares 1,431,349 (-3.4%) Est. Cost $40.81 Unrealized +110.7%

GEV GE VERNOVA INC 2.9%

Value ($000) $115 (-99.9%) Shares 176,329 (-2.8%) Est. Cost $351.01 Unrealized +73.5%

COST COSTCO WHOLESALE 2.1%

Value ($000) $83 (-99.9%) Shares 95,694 (-19.1%) Est. Cost $276.67 Unrealized +227.4%

AXP AMERICAN EXPRESS 3.0%

Value ($000) $119 (-99.9%) Shares 320,608 (-1.9%) Est. Cost $142.09 Unrealized +151.2%

ATI ATI INC 3.4%

Value ($000) $135 (-99.9%) Shares 1,177,705 (-11.4%) Est. Cost $23.62 Unrealized +312.6%

LLY LILLY ELI & COMPANY 3.1%

Value ($000) $124 (-99.9%) Shares 115,294 (-1.7%) Est. Cost $258.68 Unrealized +269.4%

HD HOME DEPOT 1.8%

Value ($000) $72 (-99.9%) Shares 209,079 (-1.1%) Est. Cost $100.85 Unrealized +261.5%

V VISA 1.8%

Value ($000) $73 (-99.9%) Shares 209,247 (-2.4%) Est. Cost $78.95 Unrealized +331.1%

WPM WHEATON PRECIOUS METALS (CA) 1.8%

Value ($000) $70 (-99.9%) Shares 594,385 (-3.8%) Est. Cost $59.80 Unrealized +79.1%

DE DEERE & CO 1.7%

Value ($000) $67 (-99.9%) Shares 143,247 (-2.3%) Est. Cost $85.16 Unrealized +449.2%

SCHW CHARLES SCHWAB CORP 1.5%

Value ($000) $61 (-99.9%) Shares 613,293 (-3.7%) Est. Cost $85.14 Unrealized +11.3%

ADP AUTOMATIC DATA PROCESSING 0.3%

Value ($000) $12 (-100.0%) Shares 48,067 (-75.5%) Est. Cost $74.18 Unrealized +257.0%

PG PROCTER & GAMBLE 1.2%

Value ($000) $48 (-99.9%) Shares 332,618 (-3.7%) Est. Cost $79.58 Unrealized +84.9%

GRMN GARMIN LTD (SZ) 0.1%

Value ($000) $5 (-100.0%) Shares 23,535 (-89.0%) Est. Cost $131.71 Unrealized +64.5%

XYL XYLEM 0.2%

Value ($000) $9 (-100.0%) Shares 66,427 (-81.0%) Est. Cost $125.90 Unrealized +14.0%

TMO THERMO FISHER SCIENTIFIC 1.5%

Value ($000) $59 (-99.9%) Shares 101,505 (-2.4%) Est. Cost $246.27 Unrealized +129.5%

TTEK TETRA TECH 0.0%

Value ($000) $1 (-100.0%) Shares 15,975 (-97.8%) Est. Cost $37.30 Unrealized -9.3%

CHD CHURCH AND DWIGHT 0.2%

Value ($000) $7 (-99.9%) Shares 84,176 (-47.5%) Est. Cost $36.56 Unrealized +133.2%

META META PLATFORMS 0.0%

Value ($000) $1 (-100.0%) Shares 795 (-95.7%) Est. Cost $743.23 Unrealized -10.2%

HON HONEYWELL INT'L 0.2%

Value ($000) $9 (-99.9%) Shares 47,773 (-4.5%) Est. Cost $73.26 Unrealized +166.2%

GOOG ALPHABET INC CLASS C 0.3%

Value ($000) $12 (-99.9%) Shares 36,941 (-7.2%) Est. Cost $125.06 Unrealized +129.0%

WM WASTE MANAGEMENT 0.1%

Value ($000) $5 (-99.9%) Shares 24,629 (-6.8%) Est. Cost $141.25 Unrealized +50.5%

WMT WALMART 0.1%

Value ($000) $6 (-99.9%) Shares 50,540 (-10.1%) Est. Cost $47.82 Unrealized +124.2%

ORCL ORACLE CORP COM 0.0%

Value ($000) $2 (-100.0%) Shares 10,040 (-44.3%) Est. Cost $85.53 Unrealized +178.3%

LHX L3HARRIS 0.1%

Value ($000) $4 (-99.9%) Shares 13,630 (-9.3%) Est. Cost $208.92 Unrealized +38.1%

MKC MCCORMICK & CO 0.1%

Value ($000) $4 (-99.9%) Shares 58,518 (-11.9%) Est. Cost $62.69 Unrealized +5.1%

ZTS ZOETIS 0.0%

Value ($000) $2 (-100.0%) Shares 14,166 (-50.2%) Est. Cost $76.57 Unrealized +70.1%

BSX BOSTON SCIENTIFIC CORP COM 0.0%

Value ($000) $1 (-100.0%) Shares 13,170 (-68.5%) Est. Cost $89.79 Unrealized +9.2%

PEP PEPSICO 0.1%

Value ($000) $4 (-99.9%) Shares 25,523 (-8.8%) Est. Cost $151.81 Unrealized -3.9%

CNQ CANADIAN NATURAL RESOURCES ADR 0.1%

Value ($000) $2 (-99.9%) Shares 60,800 (-47.4%) Est. Cost $26.07 Unrealized +24.4%

CP CANADIAN PACIFIC KANSAS CITY L 0.1%

Value ($000) $2 (-99.9%) Shares 33,367 (-19.1%) Est. Cost $77.35 Unrealized -4.8%

MAR MARRIOTT INT'L 0.1%

Value ($000) $3 (-99.9%) Shares 10,338 (-9.6%) Est. Cost $198.52 Unrealized +43.7%

VMC VULCAN MATERIALS 0.1%

Value ($000) $2 (-99.9%) Shares 7,194 (-18.2%) Est. Cost $140.56 Unrealized +108.5%

GOOGL ALPHABET INC CLASS A 0.1%

Value ($000) $3 (-99.9%) Shares 9,853 (-3.3%) Est. Cost $105.47 Unrealized +170.8%

MRSH MARSH & MCLENNAN 0.0%

Value ($000) $2 (-99.9%) Shares 8,911 (-26.7%) Est. Cost $151.54 Unrealized +23.0%

CB CHUBB LTD (SZ) 0.1%

Value ($000) $2 (-99.9%) Shares 7,095 (-16.5%) Est. Cost $185.43 Unrealized +57.7%

MCD MCDONALD'S 0.1%

Value ($000) $2 (-99.9%) Shares 6,817 (-12.8%) Est. Cost $211.79 Unrealized +44.1%

ROK ROCKWELL AUTOMATION 0.1%

Value ($000) $2 (-99.9%) Shares 5,735 (-14.8%) Est. Cost $258.83 Unrealized +45.0%

AWK AMERICAN WATER WORKS 0.0%

Value ($000) $2 (-99.9%) Shares 12,413 (-14.9%) Est. Cost $109.40 Unrealized +21.7%

KMB KIMBERLY-CLARK 0.0%

Value ($000) $1 (-99.9%) Shares 9,330 (-37.8%) Est. Cost $92.24 Unrealized +17.5%

VRT VERTIV HOLDINGS 0.0%

Value ($000) $2 (-99.9%) Shares 10,645 (-11.3%) Est. Cost $106.91 Unrealized +62.4%

KO COCA-COLA 0.0%

Value ($000) $2 (-99.9%) Shares 24,802 (-1.4%) Est. Cost $41.12 Unrealized +68.7%

GEHC GE HEALTHCARE TECHNOLOGIES INC 0.0%

Value ($000) $1 (-99.9%) Shares 12,465 (-31.8%) Est. Cost $77.79 Unrealized +0.2%

BEPC BROOKFIELD RENEWABLE CORP-A (C 0.0%

Value ($000) $1 (-99.9%) Shares 28,620 (-24.6%) Est. Cost $29.14 Unrealized +37.2%

MDT MEDTRONIC PLC (IL) 0.0%

Value ($000) $1 (-99.9%) Shares 9,904 (-25.6%) Est. Cost $82.69 Unrealized +17.5%

CVX CHEVRON 0.0%

Value ($000) $1 (-99.9%) Shares 5,463 (-25.1%) Est. Cost $134.68 Unrealized +12.4%

PFE PFIZER 0.0%

Value ($000) $1 (-99.9%) Shares 35,984 (-18.9%) Est. Cost $24.61 Unrealized +1.7%

FDX FEDEX CORPORATION 0.0%

Value ($000) $1 (-99.9%) Shares 3,285 (-1.1%) Est. Cost $220.40 Unrealized +18.7%

UPS UNITED PARCEL SERVICE 0.0%

Value ($000) $1 (-99.9%) Shares 6,640 (-21.0%) Est. Cost $92.43 Unrealized +0.3%

ABT ABBOTT LABORATORIES 0.0%

Value ($000) $0 (-99.9%) Shares 2,636 (-2.4%) Est. Cost $63.56 Unrealized +100.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORP COM	747,545 (-6.6%)	$139 (-99.9%)	3.5%	$92.51	+101.2%	COM	67066G104
MSFT	MICROSOFT	196,541 (-17.3%)	$95 (-99.9%)	2.4%	$93.05	+438.0%	COM	594918104
GLW	CORNING	1,431,349 (-3.4%)	$125 (-99.9%)	3.1%	$40.81	+110.7%	COM	219350105
GEV	GE VERNOVA INC	176,329 (-2.8%)	$115 (-99.9%)	2.9%	$351.01	+73.5%	COM	36828A101
COST	COSTCO WHOLESALE	95,694 (-19.1%)	$83 (-99.9%)	2.1%	$276.67	+227.4%	COM	22160K105
AXP	AMERICAN EXPRESS	320,608 (-1.9%)	$119 (-99.9%)	3.0%	$142.09	+151.2%	COM	025816109
ATI	ATI INC	1,177,705 (-11.4%)	$135 (-99.9%)	3.4%	$23.62	+312.6%	COM	01741R102
LLY	LILLY ELI & COMPANY	115,294 (-1.7%)	$124 (-99.9%)	3.1%	$258.68	+269.4%	COM	532457108
HD	HOME DEPOT	209,079 (-1.1%)	$72 (-99.9%)	1.8%	$100.85	+261.5%	COM	437076102
V	VISA	209,247 (-2.4%)	$73 (-99.9%)	1.8%	$78.95	+331.1%	COM	92826C839
WPM	WHEATON PRECIOUS METALS (CA)	594,385 (-3.8%)	$70 (-99.9%)	1.8%	$59.80	+79.1%	COM	962879102
DE	DEERE & CO	143,247 (-2.3%)	$67 (-99.9%)	1.7%	$85.16	+449.2%	COM	244199105
SCHW	CHARLES SCHWAB CORP	613,293 (-3.7%)	$61 (-99.9%)	1.5%	$85.14	+11.3%	COM	808513105
ADP	AUTOMATIC DATA PROCESSING	48,067 (-75.5%)	$12 (-100.0%)	0.3%	$74.18	+257.0%	COM	053015103
PG	PROCTER & GAMBLE	332,618 (-3.7%)	$48 (-99.9%)	1.2%	$79.58	+84.9%	COM	742718109
GRMN	GARMIN LTD (SZ)	23,535 (-89.0%)	$5 (-100.0%)	0.1%	$131.71	+64.5%	COM	H2906T109
XYL	XYLEM	66,427 (-81.0%)	$9 (-100.0%)	0.2%	$125.90	+14.0%	COM	98419M100
TMO	THERMO FISHER SCIENTIFIC	101,505 (-2.4%)	$59 (-99.9%)	1.5%	$246.27	+129.5%	COM	883556102
TTEK	TETRA TECH	15,975 (-97.8%)	$1 (-100.0%)	0.0%	$37.30	-9.3%	COM	88162G103
CHD	CHURCH AND DWIGHT	84,176 (-47.5%)	$7 (-99.9%)	0.2%	$36.56	+133.2%	COM	171340102
META	META PLATFORMS	795 (-95.7%)	$1 (-100.0%)	0.0%	$743.23	-10.2%	COM	30303M102
HON	HONEYWELL INT'L	47,773 (-4.5%)	$9 (-99.9%)	0.2%	$73.26	+166.2%	COM	438516106
GOOG	ALPHABET INC CLASS C	36,941 (-7.2%)	$12 (-99.9%)	0.3%	$125.06	+129.0%	COM	02079K107
WM	WASTE MANAGEMENT	24,629 (-6.8%)	$5 (-99.9%)	0.1%	$141.25	+50.5%	COM	94106L109
WMT	WALMART	50,540 (-10.1%)	$6 (-99.9%)	0.1%	$47.82	+124.2%	COM	931142103
ORCL	ORACLE CORP COM	10,040 (-44.3%)	$2 (-100.0%)	0.0%	$85.53	+178.3%	COM	68389X105
LHX	L3HARRIS	13,630 (-9.3%)	$4 (-99.9%)	0.1%	$208.92	+38.1%	COM	502431109
MKC	MCCORMICK & CO	58,518 (-11.9%)	$4 (-99.9%)	0.1%	$62.69	+5.1%	COM	579780206
ZTS	ZOETIS	14,166 (-50.2%)	$2 (-100.0%)	0.0%	$76.57	+70.1%	COM	98978V103
BSX	BOSTON SCIENTIFIC CORP COM	13,170 (-68.5%)	$1 (-100.0%)	0.0%	$89.79	+9.2%	COM	101137107
PEP	PEPSICO	25,523 (-8.8%)	$4 (-99.9%)	0.1%	$151.81	-3.9%	COM	713448108
CNQ	CANADIAN NATURAL RESOURCES ADR	60,800 (-47.4%)	$2 (-99.9%)	0.1%	$26.07	+24.4%	COM	136385101
CP	CANADIAN PACIFIC KANSAS CITY L	33,367 (-19.1%)	$2 (-99.9%)	0.1%	$77.35	-4.8%	COM	13646K108
MAR	MARRIOTT INT'L	10,338 (-9.6%)	$3 (-99.9%)	0.1%	$198.52	+43.7%	COM	571903202
VMC	VULCAN MATERIALS	7,194 (-18.2%)	$2 (-99.9%)	0.1%	$140.56	+108.5%	COM	929160109
GOOGL	ALPHABET INC CLASS A	9,853 (-3.3%)	$3 (-99.9%)	0.1%	$105.47	+170.8%	COM	02079K305
MRSH	MARSH & MCLENNAN	8,911 (-26.7%)	$2 (-99.9%)	0.0%	$151.54	+23.0%	COM	571748102
CB	CHUBB LTD (SZ)	7,095 (-16.5%)	$2 (-99.9%)	0.1%	$185.43	+57.7%	COM	H1467J104
MCD	MCDONALD'S	6,817 (-12.8%)	$2 (-99.9%)	0.1%	$211.79	+44.1%	COM	580135101
ROK	ROCKWELL AUTOMATION	5,735 (-14.8%)	$2 (-99.9%)	0.1%	$258.83	+45.0%	COM	773903109
AWK	AMERICAN WATER WORKS	12,413 (-14.9%)	$2 (-99.9%)	0.0%	$109.40	+21.7%	COM	030420103
KMB	KIMBERLY-CLARK	9,330 (-37.8%)	$1 (-99.9%)	0.0%	$92.24	+17.5%	COM	494368103
VRT	VERTIV HOLDINGS	10,645 (-11.3%)	$2 (-99.9%)	0.0%	$106.91	+62.4%	COM	92537N108
KO	COCA-COLA	24,802 (-1.4%)	$2 (-99.9%)	0.0%	$41.12	+68.7%	COM	191216100
GEHC	GE HEALTHCARE TECHNOLOGIES INC	12,465 (-31.8%)	$1 (-99.9%)	0.0%	$77.79	+0.2%	COM	36266G107
BEPC	BROOKFIELD RENEWABLE CORP-A (C	28,620 (-24.6%)	$1 (-99.9%)	0.0%	$29.14	+37.2%	COM	11285B108
MDT	MEDTRONIC PLC (IL)	9,904 (-25.6%)	$1 (-99.9%)	0.0%	$82.69	+17.5%	COM	G5960L103
CVX	CHEVRON	5,463 (-25.1%)	$1 (-99.9%)	0.0%	$134.68	+12.4%	COM	166764100
PFE	PFIZER	35,984 (-18.9%)	$1 (-99.9%)	0.0%	$24.61	+1.7%	COM	717081103
FDX	FEDEX CORPORATION	3,285 (-1.1%)	$1 (-99.9%)	0.0%	$220.40	+18.7%	COM	31428X106
UPS	UNITED PARCEL SERVICE	6,640 (-21.0%)	$1 (-99.9%)	0.0%	$92.43	+0.3%	COM	911312106
ABT	ABBOTT LABORATORIES	2,636 (-2.4%)	$0 (-99.9%)	0.0%	$63.56	+100.3%	COM	002824100

Unchanged Positions (64)

AAPL APPLE INC 3.4%

Value ($000) $135 Shares 498,335 Est. Cost $82.98 Unrealized +223.4%

PANW PALO ALTO NETWORKS 2.3%

Value ($000) $93 Shares 505,656 Est. Cost $136.42 Unrealized +47.9%

JPM JPMORGAN CHASE 2.2%

Value ($000) $89 Shares 277,219 Est. Cost $195.25 Unrealized +58.5%

PH PARKER-HANNIFIN 2.2%

Value ($000) $88 Shares 100,220 Est. Cost $567.87 Unrealized +44.0%

SPGI S & P GLOBAL 2.0%

Value ($000) $80 Shares 153,972 Est. Cost $104.05 Unrealized +375.0%

BX BLACKSTONE INC 1.7%

Value ($000) $66 Shares 431,407 Est. Cost $50.05 Unrealized +202.6%

RYCEY ROLLS ROYCE HOLDINGS ADR (GB) 1.7%

Value ($000) $68 Shares 4,313,880 Est. Cost $11.22 Unrealized —

WELL WELLTOWER 1.6%

Value ($000) $64 Shares 345,956 Est. Cost $54.25 Unrealized +243.7%

CCJ CAMECO (CA) 1.3%

Value ($000) $53 Shares 573,975 Est. Cost $47.04 Unrealized +91.2%

ANET ARISTA NETWORKS INC COM SHS 1.1%

Value ($000) $43 Shares 325,000 Est. Cost $128.77 Unrealized +6.9%

FICO FAIR ISAAC CORP 1.3%

Value ($000) $51 Shares 30,000 Est. Cost $858.21 Unrealized +100.6%

ASML ASML HOLDING (NE) 1.2%

Value ($000) $48 Shares 44,980 Est. Cost $680.67 Unrealized —

TEL TE CONNECTIVITY (SZ) 1.1%

Value ($000) $44 Shares 195,000 Est. Cost $200.01 Unrealized +15.6%

CRS CARPENTER TECHNOLOGY COM 1.3%

Value ($000) $50 Shares 160,000 Est. Cost $222.19 Unrealized +35.3%

PLD PROLOGIS 0.9%

Value ($000) $37 Shares 289,170 Est. Cost $85.94 Unrealized +44.1%

EPD ENTERPRISE PRODUCTS PARTNERS L 0.8%

Value ($000) $33 Shares 1,018,000 Est. Cost $24.94 Unrealized —

EQIX EQUINIX 0.8%

Value ($000) $31 Shares 40,000 Est. Cost $634.40 Unrealized +23.1%

SUN SUNOCO LP 0.8%

Value ($000) $31 Shares 600,000 Est. Cost $23.33 Unrealized —

WY WEYERHAEUSER 0.7%

Value ($000) $27 Shares 1,139,310 Est. Cost $22.43 Unrealized +2.5%

— BROOKFIELD INFRASTRUCTURE PART 0.6%

Value ($000) $26 Shares 742,523 Est. Cost $36.11 Unrealized —

NHI NATIONAL HEALTH INVESTORS INC 0.5%

Value ($000) $20 Shares 260,000 Est. Cost $74.30 Unrealized —

BEP BROOKFIELD RENEWABLE PARTNERS 0.5%

Value ($000) $21 Shares 780,705 Est. Cost $34.37 Unrealized —

SPH SUBURBAN PROPANE PARTNERS LP 0.5%

Value ($000) $19 Shares 1,016,000 Est. Cost $16.09 Unrealized —

— ENERGY TRANSFER LP 0.4%

Value ($000) $16 Shares 975,000 Est. Cost $18.75 Unrealized —

JNJ JOHNSON & JOHNSON 0.2%

Value ($000) $8 Shares 38,424 Est. Cost $76.51 Unrealized +157.5%

AVY AVERY DENNISON 0.2%

Value ($000) $6 Shares 33,114 Est. Cost $71.68 Unrealized +140.4%

LMT LOCKHEED MARTIN 0.1%

Value ($000) $4 Shares 7,873 Est. Cost $191.01 Unrealized +149.3%

CL COLGATE PALMOLIVE 0.1%

Value ($000) $3 Shares 42,637 Est. Cost $47.57 Unrealized +64.6%

EMR EMERSON ELECTRIC 0.1%

Value ($000) $3 Shares 24,309 Est. Cost $69.14 Unrealized +91.5%

CNI CANADIAN NAT'L RWY ADR (CA) 0.1%

Value ($000) $3 Shares 31,946 Est. Cost $42.46 Unrealized +126.4%

CSCO CISCO SYSTEMS 0.1%

Value ($000) $3 Shares 42,590 Est. Cost $42.52 Unrealized +73.6%

CAT CATERPILLAR 0.1%

Value ($000) $3 Shares 6,029 Est. Cost $324.24 Unrealized +71.3%

ABBV ABBVIE INC 0.1%

Value ($000) $3 Shares 11,940 Est. Cost $165.34 Unrealized +37.6%

TT TRANE TECHNOLOGIES PLC (IL) 0.1%

Value ($000) $2 Shares 5,135 Est. Cost $93.73 Unrealized +341.3%

VZ VERIZON COMMUNICATIONS 0.0%

Value ($000) $1 Shares 32,074 Est. Cost $39.47 Unrealized +2.6%

CHKP CHECK POINT SOFTWARE TECH (IS) 0.0%

Value ($000) $1 Shares 5,450 Est. Cost $100.97 Unrealized +91.5%

CMI CUMMINS INC 0.0%

Value ($000) $1 Shares 2,400 Est. Cost $106.81 Unrealized +336.6%

BNS BANK OF NOVA SCOTIA ADR (CA) 0.0%

Value ($000) $1 Shares 14,267 Est. Cost $56.50 Unrealized +20.3%

TSM TAIWAN SEMICONDUCTOR MFG (TW) 0.0%

Value ($000) $1 Shares 3,290 Est. Cost $81.08 Unrealized —

IP INT'L PAPER 0.0%

Value ($000) $1 Shares 19,370 Est. Cost $34.96 Unrealized +16.8%

RTX RTX CORP 0.0%

Value ($000) $1 Shares 5,258 Est. Cost $54.84 Unrealized +216.1%

LOW LOWE'S COMPANIES 0.0%

Value ($000) $1 Shares 3,083 Est. Cost $167.66 Unrealized +43.0%

STT STATE STREET 0.0%

Value ($000) $1 Shares 6,038 Est. Cost $50.46 Unrealized +135.8%

SNA SNAP-ON 0.0%

Value ($000) $1 Shares 1,870 Est. Cost $145.51 Unrealized +134.0%

EFX EQUIFAX 0.0%

Value ($000) $1 Shares 2,486 Est. Cost $53.06 Unrealized +312.1%

KMI KINDER MORGAN 0.0%

Value ($000) $1 Shares 21,075 Est. Cost $25.21 Unrealized +6.7%

— CAPITAL ONE FINANCIAL CP 0.0%

Value ($000) $1 Shares 2,174 Est. Cost $98.90 Unrealized —

TSLA TESLA MOTORS INC 0.0%

Value ($000) $0 Shares 1,000 Est. Cost $321.74 Unrealized +37.8%

GNRC GENERAC HOLDINGS 0.0%

Value ($000) $0 Shares 2,520 Est. Cost $243.69 Unrealized -33.8%

RHHBY ROCHE HOLDING AG (SZ) 0.0%

Value ($000) $0 Shares 9,550 Est. Cost $42.13 Unrealized —

MMM 3M COMPANY 0.0%

Value ($000) $0 Shares 2,495 Est. Cost $79.56 Unrealized +105.1%

— EXXON MOBIL 0.0%

Value ($000) $0 Shares 3,305 Est. Cost $62.33 Unrealized —

— AON PLC 0.0%

Value ($000) $0 Shares 1,035 Est. Cost $192.79 Unrealized —

LRCX LAM RESEARCH CORP 0.0%

Value ($000) $0 Shares 2,650 Est. Cost $105.52 Unrealized +47.2%

— CITIGROUP INC 0.0%

Value ($000) $0 Shares 3,220 Est. Cost $0.06 Unrealized —

ADSK AUTODESK INC COM 0.0%

Value ($000) $0 Shares 1,000 Est. Cost $205.89 Unrealized +46.9%

MDLZ MONDELEZ INTERNATIONAL 0.0%

Value ($000) $0 Shares 4,445 Est. Cost $36.08 Unrealized +58.1%

ACN ACCENTURE LTD (IL) 0.0%

Value ($000) $0 Shares 1,076 Est. Cost $169.31 Unrealized +50.1%

PNC PNC FINL SVCS GROUP 0.0%

Value ($000) $0 Shares 1,228 Est. Cost $167.50 Unrealized +15.1%

CCI CROWN CASTLE INT'L 0.0%

Value ($000) $0 Shares 2,270 Est. Cost $99.10 Unrealized -8.1%

IR INGERSOLL RAND (IL) 0.0%

Value ($000) $0 Shares 2,646 Est. Cost $50.89 Unrealized +55.1%

A AGILENT TECHNOLOGIES 0.0%

Value ($000) $0 Shares 1,600 Est. Cost $120.55 Unrealized +19.2%

— BROOKFIELD INFRASTRUCTURE CORP 0.0%

Value ($000) $0 Shares 4,927 Est. Cost $41.60 Unrealized —

WAB WABTEC 0.0%

Value ($000) $0 Shares 1,000 Est. Cost $191.67 Unrealized +7.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	498,335	$135	3.4%	$82.98	+223.4%	COM	037833100
PANW	PALO ALTO NETWORKS	505,656	$93	2.3%	$136.42	+47.9%	COM	697435105
JPM	JPMORGAN CHASE	277,219	$89	2.2%	$195.25	+58.5%	COM	46625H100
PH	PARKER-HANNIFIN	100,220	$88	2.2%	$567.87	+44.0%	COM	701094104
SPGI	S & P GLOBAL	153,972	$80	2.0%	$104.05	+375.0%	COM	78409V104
BX	BLACKSTONE INC	431,407	$66	1.7%	$50.05	+202.6%	COM	09260D107
RYCEY	ROLLS ROYCE HOLDINGS ADR (GB)	4,313,880	$68	1.7%	$11.22	—	COM	775781206
WELL	WELLTOWER	345,956	$64	1.6%	$54.25	+243.7%	COM	95040Q104
CCJ	CAMECO (CA)	573,975	$53	1.3%	$47.04	+91.2%	COM	13321L108
ANET	ARISTA NETWORKS INC COM SHS	325,000	$43	1.1%	$128.77	+6.9%	COM	040413205
FICO	FAIR ISAAC CORP	30,000	$51	1.3%	$858.21	+100.6%	COM	303250104
ASML	ASML HOLDING (NE)	44,980	$48	1.2%	$680.67	—	COM	N07059210
TEL	TE CONNECTIVITY (SZ)	195,000	$44	1.1%	$200.01	+15.6%	COM	G87052109
CRS	CARPENTER TECHNOLOGY COM	160,000	$50	1.3%	$222.19	+35.3%	COM	144285103
PLD	PROLOGIS	289,170	$37	0.9%	$85.94	+44.1%	COM	74340W103
EPD	ENTERPRISE PRODUCTS PARTNERS L	1,018,000	$33	0.8%	$24.94	—	COM	293792107
EQIX	EQUINIX	40,000	$31	0.8%	$634.40	+23.1%	COM	29444U700
SUN	SUNOCO LP	600,000	$31	0.8%	$23.33	—	COM	86765K109
WY	WEYERHAEUSER	1,139,310	$27	0.7%	$22.43	+2.5%	COM	962166104
—	BROOKFIELD INFRASTRUCTURE PART	742,523	$26	0.6%	$36.11	—	UNT	g16252101
NHI	NATIONAL HEALTH INVESTORS INC	260,000	$20	0.5%	$74.30	—	COM	63633D104
BEP	BROOKFIELD RENEWABLE PARTNERS	780,705	$21	0.5%	$34.37	—	UNT	G16258108
SPH	SUBURBAN PROPANE PARTNERS LP	1,016,000	$19	0.5%	$16.09	—	UNT	864482104
—	ENERGY TRANSFER LP	975,000	$16	0.4%	$18.75	—	COM	29273v100
JNJ	JOHNSON & JOHNSON	38,424	$8	0.2%	$76.51	+157.5%	COM	478160104
AVY	AVERY DENNISON	33,114	$6	0.2%	$71.68	+140.4%	COM	053611109
LMT	LOCKHEED MARTIN	7,873	$4	0.1%	$191.01	+149.3%	COM	539830109
CL	COLGATE PALMOLIVE	42,637	$3	0.1%	$47.57	+64.6%	COM	194162103
EMR	EMERSON ELECTRIC	24,309	$3	0.1%	$69.14	+91.5%	COM	291011104
CNI	CANADIAN NAT'L RWY ADR (CA)	31,946	$3	0.1%	$42.46	+126.4%	COM	136375102
CSCO	CISCO SYSTEMS	42,590	$3	0.1%	$42.52	+73.6%	COM	17275R102
CAT	CATERPILLAR	6,029	$3	0.1%	$324.24	+71.3%	COM	149123101
ABBV	ABBVIE INC	11,940	$3	0.1%	$165.34	+37.6%	COM	00287Y109
TT	TRANE TECHNOLOGIES PLC (IL)	5,135	$2	0.1%	$93.73	+341.3%	COM	G8994E103
VZ	VERIZON COMMUNICATIONS	32,074	$1	0.0%	$39.47	+2.6%	COM	92343V104
CHKP	CHECK POINT SOFTWARE TECH (IS)	5,450	$1	0.0%	$100.97	+91.5%	COM	M22465104
CMI	CUMMINS INC	2,400	$1	0.0%	$106.81	+336.6%	COM	231021106
BNS	BANK OF NOVA SCOTIA ADR (CA)	14,267	$1	0.0%	$56.50	+20.3%	COM	064149107
TSM	TAIWAN SEMICONDUCTOR MFG (TW)	3,290	$1	0.0%	$81.08	—	COM	874039100
IP	INT'L PAPER	19,370	$1	0.0%	$34.96	+16.8%	COM	460146103
RTX	RTX CORP	5,258	$1	0.0%	$54.84	+216.1%	COM	75513E101
LOW	LOWE'S COMPANIES	3,083	$1	0.0%	$167.66	+43.0%	COM	548661107
STT	STATE STREET	6,038	$1	0.0%	$50.46	+135.8%	COM	857477103
SNA	SNAP-ON	1,870	$1	0.0%	$145.51	+134.0%	COM	833034101
EFX	EQUIFAX	2,486	$1	0.0%	$53.06	+312.1%	COM	294429105
KMI	KINDER MORGAN	21,075	$1	0.0%	$25.21	+6.7%	COM	49456B101
—	CAPITAL ONE FINANCIAL CP	2,174	$1	0.0%	$98.90	—	COM	14040h105
TSLA	TESLA MOTORS INC	1,000	$0	0.0%	$321.74	+37.8%	COM	88160R101
GNRC	GENERAC HOLDINGS	2,520	$0	0.0%	$243.69	-33.8%	COM	368736104
RHHBY	ROCHE HOLDING AG (SZ)	9,550	$0	0.0%	$42.13	—	COM	771195104
MMM	3M COMPANY	2,495	$0	0.0%	$79.56	+105.1%	COM	88579Y101
—	EXXON MOBIL	3,305	$0	0.0%	$62.33	—	COM	30231g102
—	AON PLC	1,035	$0	0.0%	$192.79	—	COM	037389103
LRCX	LAM RESEARCH CORP	2,650	$0	0.0%	$105.52	+47.2%	COM	512807306
—	CITIGROUP INC	3,220	$0	0.0%	$0.06	—	COM	172967101
ADSK	AUTODESK INC COM	1,000	$0	0.0%	$205.89	+46.9%	COM	052769106
MDLZ	MONDELEZ INTERNATIONAL	4,445	$0	0.0%	$36.08	+58.1%	COM	609207105
ACN	ACCENTURE LTD (IL)	1,076	$0	0.0%	$169.31	+50.1%	COM	G1151C101
PNC	PNC FINL SVCS GROUP	1,228	$0	0.0%	$167.50	+15.1%	COM	693475105
CCI	CROWN CASTLE INT'L	2,270	$0	0.0%	$99.10	-8.1%	COM	22822V101
IR	INGERSOLL RAND (IL)	2,646	$0	0.0%	$50.89	+55.1%	COM	45687V106
A	AGILENT TECHNOLOGIES	1,600	$0	0.0%	$120.55	+19.2%	COM	00846U101
—	BROOKFIELD INFRASTRUCTURE CORP	4,927	$0	0.0%	$41.60	—	COM	11275Q107
WAB	WABTEC	1,000	$0	0.0%	$191.67	+7.1%	COM	929740108