Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	Broadcom, Inc.	445,649 (+149.7%)	$138M (+123.3%)	2.7%	$343.31	-2.7%	COM	11135F101
BR	Broadridge Financial Solutions	855,784 (+11.2%)	$139M (-19.0%)	2.7%	$115.12	+71.8%	COM	11133T103
VEEV	Veeva Systems Inc. Class A	566,467 (+83.5%)	$99.51M (+44.4%)	2.0%	$243.98	-16.4%	COM	922475108
MA	Mastercard Inc	490,929 (+1.7%)	$245M (-11.0%)	4.8%	$213.84	+152.1%	COM	57636Q104
VRSK	Verisk Analytics Inc	481,494 (+8.1%)	$91.36M (-8.3%)	1.8%	$210.33	-3.1%	COM	92345Y106
AMZN	Amazon.com Inc.	1,219,422 (+7.6%)	$254M (-2.9%)	5.0%	$228.65	-0.8%	COM	023135106
AON	AON plc Registered Shs	25,569 (+141.1%)	$8.253M (+120.6%)	0.2%	$324.27	+3.6%	COM	G0403H108
MRSH	Marsh, Inc.	1,151,204 (+6.2%)	$200M (-0.7%)	3.9%	$150.00	+20.9%	COM	571748102
SHW	Sherwin-Williams Co	626,286 (+1.3%)	$201M (+0.2%)	4.0%	$315.91	+12.5%	COM	824348106
DOX	Amdocs Limited	17,820 (+92.6%)	$1.163M (+56.2%)	0.0%	$78.52	-1.9%	COM	G02602103
LEVI	Levi Strauss & Co	139,440 (+17.5%)	$2.578M (+4.8%)	0.1%	$18.60	+14.3%	COM	52736R102
RACE	Ferrari N.V.	2,682 (+3.2%)	$908K (-5.5%)	0.0%	$398.82	-10.6%	COM	N3167Y103
JGRW	Jensen Quality Growth ETF	574,732 (+11.0%)	$13.97M (-0.3%)	0.3%	$26.79	—	JENSEN QUALITY	89834G562

Exited Positions (5)

FDS FactSet Research Systems Inc. 0.1%

Value $3.427M Shares 11,810 Est. Cost $336.98 Unrealized -26.7%

HOLX Hologic Inc. 0.0%

Value $2.086M Shares 28,000 Est. Cost $75.41 Unrealized -0.5%

ON ON Semiconductor Corp 0.0%

Value $1.159M Shares 21,406 Est. Cost $74.49 Unrealized -13.9%

LULU lululemon athletica inc. 0.0%

Value $815K Shares 3,920 Est. Cost $200.38 Unrealized -5.8%

LSTR Landstar System Inc. 0.0%

Value $769K Shares 5,350 Est. Cost $122.56 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FDS	FactSet Research Systems Inc.	11,810	$3.427M	0.1%	$336.98	-26.7%	—	303075105
HOLX	Hologic Inc.	28,000	$2.086M	0.0%	$75.41	-0.5%	—	436440101
ON	ON Semiconductor Corp	21,406	$1.159M	0.0%	$74.49	-13.9%	—	682189105
LULU	lululemon athletica inc.	3,920	$815K	0.0%	$200.38	-5.8%	—	550021109
LSTR	Landstar System Inc.	5,350	$769K	0.0%	$122.56	—	—	515098101

Decreased Positions (45)

MSFT Microsoft Corp 8.5%

Value $433M (-32.4%) Shares 1,171,009 (-11.7%) Est. Cost $54.21 Unrealized +701.8%

ADP Automatic Data Processing, Inc 0.4%

Value $21.31M (-86.9%) Shares 104,897 (-83.4%) Est. Cost $141.21 Unrealized +70.5%

INTU Intuit Inc. 0.9%

Value $44.77M (-75.2%) Shares 103,535 (-62.1%) Est. Cost $288.42 Unrealized +72.5%

NVDA NVIDIA Corp 5.6%

Value $285M (-32.3%) Shares 1,632,015 (-27.6%) Est. Cost $137.19 Unrealized +36.0%

AAPL Apple, Inc. 8.0%

Value $405M (-24.7%) Shares 1,595,941 (-19.3%) Est. Cost $83.24 Unrealized +215.7%

ABT Abbott Labs 3.0%

Value $153M (-35.0%) Shares 1,486,036 (-20.7%) Est. Cost $123.55 Unrealized -6.6%

WM Waste Management 3.0%

Value $150M (-31.9%) Shares 651,328 (-34.9%) Est. Cost $109.98 Unrealized +105.6%

GOOGL Alphabet Inc Cap Stk Cl A 8.2%

Value $417M (-13.1%) Shares 1,449,021 (-5.4%) Est. Cost $110.91 Unrealized +191.5%

LLY Eli Lilly & Co. 4.2%

Value $212M (-21.0%) Shares 230,671 (-7.7%) Est. Cost $756.13 Unrealized +38.5%

MCD McDonald's Corp. 1.7%

Value $85.86M (-36.6%) Shares 276,262 (-37.7%) Est. Cost $270.17 Unrealized +17.4%

META Meta Platforms, Inc. Class A 3.8%

Value $195M (-19.2%) Shares 341,147 (-6.8%) Est. Cost $678.83 Unrealized -3.4%

PG Procter & Gamble Co 2.8%

Value $144M (-21.6%) Shares 997,406 (-22.2%) Est. Cost $97.95 Unrealized +54.9%

EFX Equifax Inc 2.8%

Value $141M (-21.2%) Shares 783,100 (-5.0%) Est. Cost $155.95 Unrealized +31.0%

CPRT Copart Inc. 1.0%

Value $53.23M (-37.3%) Shares 1,603,423 (-26.1%) Est. Cost $52.92 Unrealized -26.0%

SYK Stryker Corp 4.5%

Value $229M (-11.0%) Shares 696,367 (-4.8%) Est. Cost $148.92 Unrealized +144.9%

CDNS Cadence Design Systems, Inc. 2.8%

Value $141M (-15.1%) Shares 505,861 (-4.5%) Est. Cost $288.79 Unrealized +5.0%

KLAC KLA Corporation 4.8%

Value $244M (+5.9%) Shares 165,632 (-12.6%) Est. Cost $434.53 Unrealized +236.5%

ORCL Oracle Corp 0.4%

Value $17.77M (-26.7%) Shares 120,790 (-2.9%) Est. Cost $32.57 Unrealized +420.8%

MSI Motorola Solutions Inc. 1.4%

Value $73.55M (+9.5%) Shares 169,491 (-3.3%) Est. Cost $400.79 Unrealized +3.8%

ACN Accenture plc Class A 0.2%

Value $11.57M (-35.1%) Shares 58,324 (-12.2%) Est. Cost $163.58 Unrealized +54.8%

ADBE Adobe Inc 0.2%

Value $8.224M (-32.1%) Shares 33,832 (-2.2%) Est. Cost $44.30 Unrealized +554.3%

APH Amphenol Corp 0.6%

Value $28.47M (-8.6%) Shares 225,363 (-2.2%) Est. Cost $43.01 Unrealized +240.4%

CTSH Cognizant Technology Solutions 0.1%

Value $6.529M (-27.0%) Shares 106,417 (-1.2%) Est. Cost $50.06 Unrealized +53.4%

CLX Clorox Company 0.1%

Value $4.784M (-30.7%) Shares 46,165 (-32.6%) Est. Cost $114.75 Unrealized -0.3%

G Genpact Limited 0.1%

Value $3.464M (-36.5%) Shares 92,985 (-20.3%) Est. Cost $38.79 Unrealized +9.8%

DCI Donaldson Co. Inc. 0.0%

Value $1.972M (-44.5%) Shares 23,230 (-42.0%) Est. Cost $55.53 Unrealized +83.6%

MSCI MSCI, Inc. 0.1%

Value $4.177M (-26.1%) Shares 7,750 (-21.3%) Est. Cost $532.02 Unrealized +7.0%

TXN Texas Instruments Inc 0.0%

Value $272K (-83.8%) Shares 1,399 (-85.5%) Est. Cost $114.42 Unrealized +80.3%

TTC Toro Company 0.0%

Value $2.178M (-36.3%) Shares 23,313 (-46.4%) Est. Cost $88.83 Unrealized +4.8%

OMC Omnicom Group Inc 0.0%

Value $1.661M (-39.6%) Shares 22,054 (-35.2%) Est. Cost $49.13 Unrealized +55.8%

NDSN Nordson Corporation 0.0%

Value $1.86M (-35.8%) Shares 6,990 (-42.0%) Est. Cost $219.03 Unrealized +26.5%

NKE Nike Inc 0.1%

Value $3.957M (-19.1%) Shares 74,924 (-2.4%) Est. Cost $81.17 Unrealized -21.2%

UNH Unitedhealth Group Inc 0.0%

Value $403K (-69.0%) Shares 1,491 (-62.2%) Est. Cost $207.29 Unrealized +48.9%

KEYS Keysight Technologies, Inc. 0.1%

Value $4.79M (-15.0%) Shares 16,962 (-38.8%) Est. Cost $150.05 Unrealized +52.1%

LH Labcorp Holdings, Inc. 0.1%

Value $4.931M (-13.9%) Shares 18,480 (-19.0%) Est. Cost $199.92 Unrealized +35.6%

HD Home Depot Inc. 0.0%

Value $481K (-44.0%) Shares 1,462 (-41.4%) Est. Cost $249.48 Unrealized +51.1%

TSM Taiwan Semiconductor Manuf 0.1%

Value $5.552M (+6.7%) Shares 16,427 (-4.0%) Est. Cost $111.65 Unrealized —

BAH Booz Allen Hamilton Holding Co 0.0%

Value $1.081M (-22.1%) Shares 13,850 (-15.8%) Est. Cost $131.53 Unrealized -33.9%

JNJ Johnson & Johnson 0.0%

Value $2.387M (+12.4%) Shares 9,767 (-4.9%) Est. Cost $94.07 Unrealized +142.2%

FFIV F5 Networks Inc. 0.1%

Value $3.854M (+7.1%) Shares 13,320 (-5.5%) Est. Cost $176.97 Unrealized +54.0%

KR Kroger Company 0.1%

Value $4.795M (-4.4%) Shares 66,270 (-17.4%) Est. Cost $34.21 Unrealized +88.8%

BDX Becton Dickinson & Co. 0.0%

Value $336K (-30.3%) Shares 2,140 (-13.9%) Est. Cost $127.31 Unrealized +31.8%

ECL Ecolab Inc 0.3%

Value $15.66M (-0.5%) Shares 58,860 (-1.8%) Est. Cost $87.27 Unrealized +228.0%

ROST Ross Stores Inc 0.1%

Value $4.771M (-1.7%) Shares 22,024 (-18.3%) Est. Cost $144.73 Unrealized +32.9%

APD Air Products & Chemicals 0.0%

Value $2.235M (+0.2%) Shares 7,695 (-14.8%) Est. Cost $255.76 Unrealized +6.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp	1,171,009 (-11.7%)	$433M (-32.4%)	8.5%	$54.21	+701.8%	COM	594918104
ADP	Automatic Data Processing, Inc	104,897 (-83.4%)	$21.31M (-86.9%)	0.4%	$141.21	+70.5%	COM	053015103
INTU	Intuit Inc.	103,535 (-62.1%)	$44.77M (-75.2%)	0.9%	$288.42	+72.5%	COM	461202103
NVDA	NVIDIA Corp	1,632,015 (-27.6%)	$285M (-32.3%)	5.6%	$137.19	+36.0%	COM	67066G104
AAPL	Apple, Inc.	1,595,941 (-19.3%)	$405M (-24.7%)	8.0%	$83.24	+215.7%	COM	037833100
ABT	Abbott Labs	1,486,036 (-20.7%)	$153M (-35.0%)	3.0%	$123.55	-6.6%	COM	002824100
WM	Waste Management	651,328 (-34.9%)	$150M (-31.9%)	3.0%	$109.98	+105.6%	COM	94106L109
GOOGL	Alphabet Inc Cap Stk Cl A	1,449,021 (-5.4%)	$417M (-13.1%)	8.2%	$110.91	+191.5%	COM	02079K305
LLY	Eli Lilly & Co.	230,671 (-7.7%)	$212M (-21.0%)	4.2%	$756.13	+38.5%	COM	532457108
MCD	McDonald's Corp.	276,262 (-37.7%)	$85.86M (-36.6%)	1.7%	$270.17	+17.4%	COM	580135101
META	Meta Platforms, Inc. Class A	341,147 (-6.8%)	$195M (-19.2%)	3.8%	$678.83	-3.4%	COM	30303M102
PG	Procter & Gamble Co	997,406 (-22.2%)	$144M (-21.6%)	2.8%	$97.95	+54.9%	COM	742718109
EFX	Equifax Inc	783,100 (-5.0%)	$141M (-21.2%)	2.8%	$155.95	+31.0%	COM	294429105
CPRT	Copart Inc.	1,603,423 (-26.1%)	$53.23M (-37.3%)	1.0%	$52.92	-26.0%	COM	217204106
SYK	Stryker Corp	696,367 (-4.8%)	$229M (-11.0%)	4.5%	$148.92	+144.9%	COM	863667101
CDNS	Cadence Design Systems, Inc.	505,861 (-4.5%)	$141M (-15.1%)	2.8%	$288.79	+5.0%	COM	127387108
KLAC	KLA Corporation	165,632 (-12.6%)	$244M (+5.9%)	4.8%	$434.53	+236.5%	COM	482480100
ORCL	Oracle Corp	120,790 (-2.9%)	$17.77M (-26.7%)	0.4%	$32.57	+420.8%	COM	68389X105
MSI	Motorola Solutions Inc.	169,491 (-3.3%)	$73.55M (+9.5%)	1.4%	$400.79	+3.8%	COM	620076307
ACN	Accenture plc Class A	58,324 (-12.2%)	$11.57M (-35.1%)	0.2%	$163.58	+54.8%	COM	G1151C101
ADBE	Adobe Inc	33,832 (-2.2%)	$8.224M (-32.1%)	0.2%	$44.30	+554.3%	COM	00724F101
APH	Amphenol Corp	225,363 (-2.2%)	$28.47M (-8.6%)	0.6%	$43.01	+240.4%	COM	032095101
CTSH	Cognizant Technology Solutions	106,417 (-1.2%)	$6.529M (-27.0%)	0.1%	$50.06	+53.4%	COM	192446102
CLX	Clorox Company	46,165 (-32.6%)	$4.784M (-30.7%)	0.1%	$114.75	-0.3%	COM	189054109
G	Genpact Limited	92,985 (-20.3%)	$3.464M (-36.5%)	0.1%	$38.79	+9.8%	COM	G3922B107
DCI	Donaldson Co. Inc.	23,230 (-42.0%)	$1.972M (-44.5%)	0.0%	$55.53	+83.6%	COM	257651109
MSCI	MSCI, Inc.	7,750 (-21.3%)	$4.177M (-26.1%)	0.1%	$532.02	+7.0%	COM	55354G100
TXN	Texas Instruments Inc	1,399 (-85.5%)	$272K (-83.8%)	0.0%	$114.42	+80.3%	COM	882508104
TTC	Toro Company	23,313 (-46.4%)	$2.178M (-36.3%)	0.0%	$88.83	+4.8%	COM	891092108
OMC	Omnicom Group Inc	22,054 (-35.2%)	$1.661M (-39.6%)	0.0%	$49.13	+55.8%	COM	681919106
NDSN	Nordson Corporation	6,990 (-42.0%)	$1.86M (-35.8%)	0.0%	$219.03	+26.5%	COM	655663102
NKE	Nike Inc	74,924 (-2.4%)	$3.957M (-19.1%)	0.1%	$81.17	-21.2%	COM	654106103
UNH	Unitedhealth Group Inc	1,491 (-62.2%)	$403K (-69.0%)	0.0%	$207.29	+48.9%	COM	91324P102
KEYS	Keysight Technologies, Inc.	16,962 (-38.8%)	$4.79M (-15.0%)	0.1%	$150.05	+52.1%	COM	49338L103
LH	Labcorp Holdings, Inc.	18,480 (-19.0%)	$4.931M (-13.9%)	0.1%	$199.92	+35.6%	COM	504922105
HD	Home Depot Inc.	1,462 (-41.4%)	$481K (-44.0%)	0.0%	$249.48	+51.1%	COM	437076102
TSM	Taiwan Semiconductor Manuf	16,427 (-4.0%)	$5.552M (+6.7%)	0.1%	$111.65	—	ADR	874039100
BAH	Booz Allen Hamilton Holding Co	13,850 (-15.8%)	$1.081M (-22.1%)	0.0%	$131.53	-33.9%	COM	099502106
JNJ	Johnson & Johnson	9,767 (-4.9%)	$2.387M (+12.4%)	0.0%	$94.07	+142.2%	COM	478160104
FFIV	F5 Networks Inc.	13,320 (-5.5%)	$3.854M (+7.1%)	0.1%	$176.97	+54.0%	COM	315616102
KR	Kroger Company	66,270 (-17.4%)	$4.795M (-4.4%)	0.1%	$34.21	+88.8%	COM	501044101
BDX	Becton Dickinson & Co.	2,140 (-13.9%)	$336K (-30.3%)	0.0%	$127.31	+31.8%	COM	075887109
ECL	Ecolab Inc	58,860 (-1.8%)	$15.66M (-0.5%)	0.3%	$87.27	+228.0%	COM	278865100
ROST	Ross Stores Inc	22,024 (-18.3%)	$4.771M (-1.7%)	0.1%	$144.73	+32.9%	COM	778296103
APD	Air Products & Chemicals	7,695 (-14.8%)	$2.235M (+0.2%)	0.0%	$255.76	+6.1%	COM	009158106

Unchanged Positions (26)

WAT Waters Corp 0.2%

Value $11.54M Shares 38,766 Est. Cost $149.29 Unrealized +145.9%

PEP PepsiCo Inc. 0.2%

Value $12.63M Shares 81,335 Est. Cost $79.10 Unrealized +95.6%

FICO Fair Isaac Corporation 0.0%

Value $1.334M Shares 1,250 Est. Cost $1503.82 Unrealized -2.5%

CL Colgate-Palmolive Co 0.2%

Value $10.11M Shares 118,640 Est. Cost $53.61 Unrealized +65.6%

KO Coca-Cola Co 0.2%

Value $8.491M Shares 111,651 Est. Cost $27.59 Unrealized +170.9%

EHC Encompass Health Corp 0.1%

Value $4.9M Shares 50,660 Est. Cost $52.40 Unrealized +96.4%

TSCO Tractor Supply Co 0.1%

Value $4.429M Shares 97,780 Est. Cost $51.97 Unrealized +1.5%

MMM 3M Co. 0.1%

Value $4.013M Shares 27,629 Est. Cost $95.88 Unrealized +71.0%

IDXX IDEXX Laboratories Inc. 0.0%

Value $2.006M Shares 3,570 Est. Cost $487.60 Unrealized +37.5%

TROW T Rowe Price Group Inc 0.1%

Value $2.88M Shares 31,950 Est. Cost $51.13 Unrealized +98.0%

CHD Church & Dwight Co Inc 0.1%

Value $3.224M Shares 34,550 Est. Cost $81.74 Unrealized +16.0%

GWW W.W. Grainger Inc. 0.1%

Value $3.425M Shares 3,140 Est. Cost $992.23 Unrealized +10.3%

— Bajaj Finance Limited 0.0%

Value $820K Shares 95,800 Est. Cost $11.00 Unrealized —

GNTX Gentex Corporation 0.1%

Value $2.918M Shares 133,540 Est. Cost $32.83 Unrealized -26.8%

EMR Emerson Elec Co 0.2%

Value $9.76M Shares 74,490 Est. Cost $44.58 Unrealized +233.1%

MANH Manhattan Associates, Inc. 0.0%

Value $588K Shares 4,420 Est. Cost $132.40 Unrealized +17.7%

CPB Campbell Soup Company 0.0%

Value $700K Shares 31,418 Est. Cost $40.07 Unrealized -31.9%

RTX Raytheon Technologies Corp 0.1%

Value $3.396M Shares 17,607 Est. Cost $54.61 Unrealized +260.1%

GIS General Mills Inc. 0.0%

Value $664K Shares 17,845 Est. Cost $49.87 Unrealized -8.8%

URI United Rentals, Inc. 0.0%

Value $1.582M Shares 2,171 Est. Cost $702.95 Unrealized +25.6%

CCK Crown Holdings Inc. 0.1%

Value $5.705M Shares 56,903 Est. Cost $84.83 Unrealized +27.4%

TJX TJX Companies Inc 0.1%

Value $3.699M Shares 23,160 Est. Cost $42.34 Unrealized +264.3%

ABBV AbbVie Inc. 0.0%

Value $2.424M Shares 11,144 Est. Cost $27.90 Unrealized +697.9%

LIN Linde plc 0.0%

Value $640K Shares 1,290 Est. Cost $322.30 Unrealized +42.7%

BBY Best Buy Co. Inc. 0.0%

Value $1.588M Shares 24,735 Est. Cost $80.03 Unrealized -16.3%

GPC Genuine Parts Company 0.0%

Value $283K Shares 2,674 Est. Cost $105.52 Unrealized +26.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WAT	Waters Corp	38,766	$11.54M	0.2%	$149.29	+145.9%	COM	941848103
PEP	PepsiCo Inc.	81,335	$12.63M	0.2%	$79.10	+95.6%	COM	713448108
FICO	Fair Isaac Corporation	1,250	$1.334M	0.0%	$1503.82	-2.5%	COM	303250104
CL	Colgate-Palmolive Co	118,640	$10.11M	0.2%	$53.61	+65.6%	COM	194162103
KO	Coca-Cola Co	111,651	$8.491M	0.2%	$27.59	+170.9%	COM	191216100
EHC	Encompass Health Corp	50,660	$4.9M	0.1%	$52.40	+96.4%	COM	29261A100
TSCO	Tractor Supply Co	97,780	$4.429M	0.1%	$51.97	+1.5%	COM	892356106
MMM	3M Co.	27,629	$4.013M	0.1%	$95.88	+71.0%	COM	88579Y101
IDXX	IDEXX Laboratories Inc.	3,570	$2.006M	0.0%	$487.60	+37.5%	COM	45168D104
TROW	T Rowe Price Group Inc	31,950	$2.88M	0.1%	$51.13	+98.0%	COM	74144T108
CHD	Church & Dwight Co Inc	34,550	$3.224M	0.1%	$81.74	+16.0%	COM	171340102
GWW	W.W. Grainger Inc.	3,140	$3.425M	0.1%	$992.23	+10.3%	COM	384802104
—	Bajaj Finance Limited	95,800	$820K	0.0%	$11.00	—	COM	Y0547D153
GNTX	Gentex Corporation	133,540	$2.918M	0.1%	$32.83	-26.8%	COM	371901109
EMR	Emerson Elec Co	74,490	$9.76M	0.2%	$44.58	+233.1%	COM	291011104
MANH	Manhattan Associates, Inc.	4,420	$588K	0.0%	$132.40	+17.7%	COM	562750109
CPB	Campbell Soup Company	31,418	$700K	0.0%	$40.07	-31.9%	COM	134429109
RTX	Raytheon Technologies Corp	17,607	$3.396M	0.1%	$54.61	+260.1%	COM	75513E101
GIS	General Mills Inc.	17,845	$664K	0.0%	$49.87	-8.8%	COM	370334104
URI	United Rentals, Inc.	2,171	$1.582M	0.0%	$702.95	+25.6%	COM	911363109
CCK	Crown Holdings Inc.	56,903	$5.705M	0.1%	$84.83	+27.4%	COM	228368106
TJX	TJX Companies Inc	23,160	$3.699M	0.1%	$42.34	+264.3%	COM	872540109
ABBV	AbbVie Inc.	11,144	$2.424M	0.0%	$27.90	+697.9%	COM	00287Y109
LIN	Linde plc	1,290	$640K	0.0%	$322.30	+42.7%	COM	G54950103
BBY	Best Buy Co. Inc.	24,735	$1.588M	0.0%	$80.03	-16.3%	COM	086516101
GPC	Genuine Parts Company	2,674	$283K	0.0%	$105.52	+26.5%	COM	372460105