Liontrust Investment Partners LLP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CTAS	CINTAS CORP	536,959	$100,986	1.5%	$188.13	0.0%	EQUITY	172908105
WST	WEST PHARMACEUTICAL SERVICES INC	366,188	$100,753	1.5%	$273.43	0.0%	EQUITY	955306105
PGR	PROGRESSIVE CORP	337,309	$76,812	1.1%	$212.34	0.0%	EQUITY	743315103
ZS	ZSCALER INC	258,925	$58,237	0.9%	$282.25	0.0%	EQUITY	98980G102
TTE	TOTALENERGIES	861,493	$56,245	0.8%	$63.23	0.0%	EQUITY	F92124100
QCOM	QUALCOMM INC	203,228	$34,762	0.5%	$170.79	0.0%	EQUITY	747525103
CIEN	CIENA CORP	70,652	$16,523	0.2%	$194.00	0.0%	EQUITY	171779309
MRVL	MARVELL TECHNOLOGY INC	185,171	$15,736	0.2%	$87.46	0.0%	EQUITY	573874104
BSX	BOSTON SCIENTIFIC CORP	120,520	$11,492	0.2%	$98.04	0.0%	EQUITY	101137107
IQV	IQVIA HOLDINGS INC	47,188	$10,637	0.2%	$217.58	0.0%	EQUITY	46266C105
FCX	FREEPORT MCMORAN INC	188,662	$9,582	0.1%	$43.31	0.0%	EQUITY	35671D857
OXY	OCCIDENTAL PETROLEUM CORP	217,039	$8,925	0.1%	$41.55	0.0%	EQUITY	674599105
MICC	MAGNUM ICE CREAM NV	440,432	$6,976	0.1%	$15.68	0.0%	EQUITY	N5505D105
LITE	LUMENTUM HOLDINGS INC	17,161	$6,325	0.1%	$256.82	0.0%	EQUITY	55024U109
FN	FABRINET	11,608	$5,285	0.1%	$435.01	0.0%	EQUITY	G3323L100
BEAM	BEAM THERAPEUTICS INC	170,404	$4,724	0.1%	$25.51	0.0%	EQUITY	07373V105
LIN	LINDE PLC	9,316	$3,972	0.1%	$427.28	0.0%	EQUITY	G54950103
XP	XP CLASS A INC	231,700	$3,793	0.1%	$17.61	0.0%	EQUITY	G98239109
COHR	COHERENT CORP	17,440	$3,219	0.0%	$149.58	0.0%	EQUITY	19247G107
SANM	SANMINA CORP	21,006	$3,152	0.0%	$147.61	0.0%	EQUITY	801056102
HSAI	HESAI AMERICAN DEPOSITARY SHARE EA	136,136	$3,049	0.0%	$22.40	—	EQUITY	428050108
ZTS	ZOETIS INC CLASS A	19,876	$2,501	0.0%	$130.26	0.0%	EQUITY	98978V103
HURN	HURON CONSULTING GROUP INC	10,401	$1,798	0.0%	$163.70	0.0%	EQUITY	447462102
SIFY	SIFY TECHNOLOGIES AMERICAN DEPOSIT	127,259	$1,551	0.0%	$12.19	—	EQUITY	82655M206
GS	GOLDMAN SACHS GROUP INC	867	$762	0.0%	$813.35	0.0%	EQUITY	38141G104
SCCO	SOUTHERN COPPER CORP	3,025	$434	0.0%	$132.76	0.0%	EQUITY	84265V105
TBBB	BBB FOODS INC CLASS A	12,000	$401	0.0%	$29.90	0.0%	EQUITY	G0896C103
CRK	COMSTOCK RESOURCES INC	13,186	$306	0.0%	$22.04	0.0%	EQUITY	205768302
INTR	INTER AND CO INC CLASS A	32,000	$271	0.0%	$8.73	0.0%	EQUITY	G4R20B107
VIPS	VIPSHOP HOLDINGS SPONSORED ADS REP	9,000	$159	0.0%	$17.69	—	EQUITY	92763W103
ETHZ	ETHZILLA CORP	14,629	$72	0.0%	$14.11	0.0%	EQUITY	68236V401

Increased Positions (51)

MA MASTERCARD INC CLASS A 2.1%

Value ($000) $143,350 (+1074.7%) Shares 251,103 (+1070.4%) Est. Cost $548.62 Unrealized +1.9%

MPWR MONOLITHIC POWER SYSTEMS INC 0.7%

Value ($000) $49,789 (+2348.2%) Shares 54,933 (+2386.8%) Est. Cost $949.98 Unrealized +1.1%

TTAN SERVICETITAN INC CLASS A 1.0%

Value ($000) $68,365 (+126.1%) Shares 641,923 (+114.1%) Est. Cost $103.39 Unrealized -5.5%

DB DEUTSCHE BANK AG 3.3%

Value ($000) $221,741 (+19.7%) Shares 5,702,338 (+8.3%) Est. Cost $27.17 Unrealized +32.8%

ALC ALCON AG 1.7%

Value ($000) $112,730 (+31.0%) Shares 1,411,358 (+22.2%) Est. Cost $87.28 Unrealized -11.8%

NOW SERVICENOW INC 0.3%

Value ($000) $21,686 (-49.9%) Shares 141,564 (+200.7%) Est. Cost $163.32 Unrealized +5.0%

KLAC KLA CORP 0.3%

Value ($000) $20,119 (+558.4%) Shares 16,558 (+484.5%) Est. Cost $1085.88 Unrealized +7.9%

CAVA CAVA GROUP INC 0.8%

Value ($000) $54,913 (+27.1%) Shares 935,648 (+30.9%) Est. Cost $71.04 Unrealized -21.5%

NBIS NEBIUS NV CLASS A 0.6%

Value ($000) $39,209 (-22.4%) Shares 468,424 (+4.1%) Est. Cost $37.15 Unrealized +179.0%

VRT VERTIV HOLDINGS CLASS A 0.2%

Value ($000) $13,985 (+351.0%) Shares 86,323 (+320.0%) Est. Cost $155.06 Unrealized +11.9%

OMCL OMNICELL INC 0.3%

Value ($000) $19,938 (+119.7%) Shares 440,128 (+47.7%) Est. Cost $32.44 Unrealized +12.8%

CRDO CREDO TECHNOLOGY GROUP HOLDING LTD 0.3%

Value ($000) $21,979 (+90.9%) Shares 152,750 (+93.1%) Est. Cost $112.53 Unrealized +36.7%

GEV GE VERNOVA INC 0.5%

Value ($000) $32,345 (+47.7%) Shares 49,489 (+39.0%) Est. Cost $506.04 Unrealized +20.4%

NFLX NETFLIX INC 0.4%

Value ($000) $27,087 (-26.9%) Shares 288,893 (+834.1%) Est. Cost $103.31 Unrealized +4.4%

MKC MCCORMICK & CO NON-VOTING INC 0.2%

Value ($000) $11,834 (+391.0%) Shares 173,749 (+382.3%) Est. Cost $68.08 Unrealized -3.2%

ECL ECOLAB INC 2.0%

Value ($000) $131,694 (+6.2%) Shares 501,653 (+10.8%) Est. Cost $205.84 Unrealized +29.1%

AVGO BROADCOM INC 1.3%

Value ($000) $88,033 (+8.5%) Shares 254,358 (+3.4%) Est. Cost $186.47 Unrealized +91.5%

APP APPLOVIN CORP CLASS A 0.2%

Value ($000) $13,333 (+99.3%) Shares 19,787 (+112.5%) Est. Cost $468.58 Unrealized +34.5%

CRWV COREWEAVE INC CLASS A 0.1%

Value ($000) $7,369 (-47.1%) Shares 102,909 (+1.2%) Est. Cost $109.25 Unrealized -7.2%

BX BLACKSTONE INC 0.4%

Value ($000) $25,653 (+29.2%) Shares 166,425 (+43.2%) Est. Cost $159.49 Unrealized -5.0%

NU NU HOLDINGS LTD CLASS A 0.2%

Value ($000) $13,279 (+71.5%) Shares 793,271 (+64.1%) Est. Cost $13.96 Unrealized +15.1%

HOOD ROBINHOOD MARKETS INC CLASS A 0.2%

Value ($000) $14,276 (+62.4%) Shares 126,228 (+105.5%) Est. Cost $103.53 Unrealized +25.6%

AMAT APPLIED MATERIAL INC 0.3%

Value ($000) $21,417 (+33.6%) Shares 83,339 (+6.5%) Est. Cost $176.50 Unrealized +35.7%

VRSK VERISK ANALYTICS INC 0.6%

Value ($000) $38,399 (+15.1%) Shares 171,662 (+29.4%) Est. Cost $237.50 Unrealized -5.1%

KVYO KLAVIYO INC SERIES A 0.1%

Value ($000) $6,285 (+122.9%) Shares 193,578 (+90.1%) Est. Cost $33.94 Unrealized -17.5%

ETN EATON PLC 0.3%

Value ($000) $18,256 (+23.2%) Shares 57,317 (+44.7%) Est. Cost $321.45 Unrealized +10.2%

TEAM ATLASSIAN CORP CLASS A 0.2%

Value ($000) $10,777 (+44.4%) Shares 66,467 (+42.2%) Est. Cost $193.00 Unrealized -18.7%

AAPL APPLE INC 0.5%

Value ($000) $35,965 (+10.0%) Shares 132,294 (+3.1%) Est. Cost $219.02 Unrealized +22.5%

ALAB ASTERA LABS INC 0.1%

Value ($000) $8,815 (+54.0%) Shares 52,986 (+81.3%) Est. Cost $123.39 Unrealized +35.6%

ORCL ORACLE CORP 0.6%

Value ($000) $42,131 (-6.6%) Shares 216,154 (+34.8%) Est. Cost $167.62 Unrealized +42.0%

AMZN AMAZON COM INC 0.4%

Value ($000) $27,776 (+11.5%) Shares 120,336 (+6.0%) Est. Cost $132.03 Unrealized +73.3%

LMND LEMONADE INC 0.1%

Value ($000) $6,681 (+72.1%) Shares 93,854 (+29.4%) Est. Cost $43.99 Unrealized +52.7%

BABA ALIBABA GROUP HOLDING ADR REPRESEN 0.5%

Value ($000) $30,405 (-7.2%) Shares 207,431 (+13.2%) Est. Cost $118.02 Unrealized —

JPM JPMORGAN CHASE & CO 0.2%

Value ($000) $16,120 (+16.4%) Shares 50,027 (+13.9%) Est. Cost $297.59 Unrealized +4.0%

ALNY ALNYLAM PHARMACEUTICALS INC 0.1%

Value ($000) $7,312 (+37.6%) Shares 18,387 (+57.7%) Est. Cost $310.07 Unrealized +42.7%

VALE VALE ADR REPRESENTING ONE SA 0.0%

Value ($000) $2,085 (+283.9%) Shares 160,000 (+220.0%) Est. Cost $2812.84 Unrealized —

ABNB AIRBNB INC CLASS A 0.1%

Value ($000) $9,693 (+14.0%) Shares 71,421 (+2.0%) Est. Cost $140.70 Unrealized -11.5%

ROP ROPER TECHNOLOGIES INC 0.0%

Value ($000) $2,472 (+74.7%) Shares 5,554 (+95.7%) Est. Cost $497.52 Unrealized -7.1%

AUR AURORA INNOVATION INC CLASS A 0.1%

Value ($000) $4,784 (+28.2%) Shares 1,245,963 (+80.0%) Est. Cost $5.29 Unrealized -13.5%

NOMD NOMAD FOODS LTD 0.0%

Value ($000) $2,863 (+49.4%) Shares 228,817 (+57.1%) Est. Cost $16.12 Unrealized -24.3%

FLY FIREFLY AEROSPACE INC 0.0%

Value ($000) $2,552 (+42.6%) Shares 114,099 (+86.9%) Est. Cost $34.81 Unrealized -33.5%

RACE FERRARI NV 0.2%

Value ($000) $11,829 (+6.2%) Shares 31,602 (+37.3%) Est. Cost $457.69 Unrealized -12.6%

SOFI SOFI TECHNOLOGIES INC 0.2%

Value ($000) $11,213 (+5.7%) Shares 428,320 (+6.7%) Est. Cost $23.99 Unrealized +16.2%

NKE NIKE INC CLASS B 0.1%

Value ($000) $8,699 (-6.5%) Shares 136,541 (+2.4%) Est. Cost $68.09 Unrealized -4.7%

IBN ICICI BANK ADR REP LTD 0.1%

Value ($000) $8,447 (+6.4%) Shares 283,445 (+7.9%) Est. Cost $33.36 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.1%

Value ($000) $8,760 (+5.7%) Shares 215,067 (+14.1%) Est. Cost $40.57 Unrealized -0.2%

PSTG PURE STORAGE INC CLASS A 0.1%

Value ($000) $6,854 (-6.2%) Shares 102,283 (+17.3%) Est. Cost $60.03 Unrealized +39.2%

SQM SOCIEDAD QUIMICA Y MINERA DE CHILE 0.0%

Value ($000) $963 (+72.4%) Shares 14,000 (+7.7%) Est. Cost $44.82 Unrealized —

FUTU FUTU HOLDINGS ADR LTD 0.0%

Value ($000) $622 (+138.6%) Shares 3,790 (+152.7%) Est. Cost $168.05 Unrealized —

DORM DORMAN PRODUCTS INC 0.0%

Value ($000) $243 (-15.1%) Shares 1,973 (+7.4%) Est. Cost $142.87 Unrealized -5.5%

BRKR BRUKER CORP 0.0%

Value ($000) $85 (+90.2%) Shares 1,802 (+31.1%) Est. Cost $49.51 Unrealized -14.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MA	MASTERCARD INC CLASS A	251,103 (+1070.4%)	$143,350 (+1074.7%)	2.1%	$548.62	+1.9%	EQUITY	57636Q104
MPWR	MONOLITHIC POWER SYSTEMS INC	54,933 (+2386.8%)	$49,789 (+2348.2%)	0.7%	$949.98	+1.1%	EQUITY	609839105
TTAN	SERVICETITAN INC CLASS A	641,923 (+114.1%)	$68,365 (+126.1%)	1.0%	$103.39	-5.5%	EQUITY	81764X103
DB	DEUTSCHE BANK AG	5,702,338 (+8.3%)	$221,741 (+19.7%)	3.3%	$27.17	+32.8%	EQUITY	D18190898
ALC	ALCON AG	1,411,358 (+22.2%)	$112,730 (+31.0%)	1.7%	$87.28	-11.8%	EQUITY	H01301128
NOW	SERVICENOW INC	141,564 (+200.7%)	$21,686 (-49.9%)	0.3%	$163.32	+5.0%	EQUITY	81762P102
KLAC	KLA CORP	16,558 (+484.5%)	$20,119 (+558.4%)	0.3%	$1085.88	+7.9%	EQUITY	482480100
CAVA	CAVA GROUP INC	935,648 (+30.9%)	$54,913 (+27.1%)	0.8%	$71.04	-21.5%	EQUITY	148929102
NBIS	NEBIUS NV CLASS A	468,424 (+4.1%)	$39,209 (-22.4%)	0.6%	$37.15	+179.0%	EQUITY	N97284108
VRT	VERTIV HOLDINGS CLASS A	86,323 (+320.0%)	$13,985 (+351.0%)	0.2%	$155.06	+11.9%	EQUITY	92537N108
OMCL	OMNICELL INC	440,128 (+47.7%)	$19,938 (+119.7%)	0.3%	$32.44	+12.8%	EQUITY	68213N109
CRDO	CREDO TECHNOLOGY GROUP HOLDING LTD	152,750 (+93.1%)	$21,979 (+90.9%)	0.3%	$112.53	+36.7%	EQUITY	G25457105
GEV	GE VERNOVA INC	49,489 (+39.0%)	$32,345 (+47.7%)	0.5%	$506.04	+20.4%	EQUITY	36828A101
NFLX	NETFLIX INC	288,893 (+834.1%)	$27,087 (-26.9%)	0.4%	$103.31	+4.4%	EQUITY	64110L106
MKC	MCCORMICK & CO NON-VOTING INC	173,749 (+382.3%)	$11,834 (+391.0%)	0.2%	$68.08	-3.2%	EQUITY	579780206
ECL	ECOLAB INC	501,653 (+10.8%)	$131,694 (+6.2%)	2.0%	$205.84	+29.1%	EQUITY	278865100
AVGO	BROADCOM INC	254,358 (+3.4%)	$88,033 (+8.5%)	1.3%	$186.47	+91.5%	EQUITY	11135F101
APP	APPLOVIN CORP CLASS A	19,787 (+112.5%)	$13,333 (+99.3%)	0.2%	$468.58	+34.5%	EQUITY	03831W108
CRWV	COREWEAVE INC CLASS A	102,909 (+1.2%)	$7,369 (-47.1%)	0.1%	$109.25	-7.2%	EQUITY	21873S108
BX	BLACKSTONE INC	166,425 (+43.2%)	$25,653 (+29.2%)	0.4%	$159.49	-5.0%	EQUITY	09260D107
NU	NU HOLDINGS LTD CLASS A	793,271 (+64.1%)	$13,279 (+71.5%)	0.2%	$13.96	+15.1%	EQUITY	G6683N103
HOOD	ROBINHOOD MARKETS INC CLASS A	126,228 (+105.5%)	$14,276 (+62.4%)	0.2%	$103.53	+25.6%	EQUITY	770700102
AMAT	APPLIED MATERIAL INC	83,339 (+6.5%)	$21,417 (+33.6%)	0.3%	$176.50	+35.7%	EQUITY	038222105
VRSK	VERISK ANALYTICS INC	171,662 (+29.4%)	$38,399 (+15.1%)	0.6%	$237.50	-5.1%	EQUITY	92345Y106
KVYO	KLAVIYO INC SERIES A	193,578 (+90.1%)	$6,285 (+122.9%)	0.1%	$33.94	-17.5%	EQUITY	49845K101
ETN	EATON PLC	57,317 (+44.7%)	$18,256 (+23.2%)	0.3%	$321.45	+10.2%	EQUITY	G29183103
TEAM	ATLASSIAN CORP CLASS A	66,467 (+42.2%)	$10,777 (+44.4%)	0.2%	$193.00	-18.7%	EQUITY	049468101
AAPL	APPLE INC	132,294 (+3.1%)	$35,965 (+10.0%)	0.5%	$219.02	+22.5%	EQUITY	037833100
ALAB	ASTERA LABS INC	52,986 (+81.3%)	$8,815 (+54.0%)	0.1%	$123.39	+35.6%	EQUITY	04626A103
ORCL	ORACLE CORP	216,154 (+34.8%)	$42,131 (-6.6%)	0.6%	$167.62	+42.0%	EQUITY	68389X105
AMZN	AMAZON COM INC	120,336 (+6.0%)	$27,776 (+11.5%)	0.4%	$132.03	+73.3%	EQUITY	023135106
LMND	LEMONADE INC	93,854 (+29.4%)	$6,681 (+72.1%)	0.1%	$43.99	+52.7%	EQUITY	52567D107
BABA	ALIBABA GROUP HOLDING ADR REPRESEN	207,431 (+13.2%)	$30,405 (-7.2%)	0.5%	$118.02	—	EQUITY	01609W102
JPM	JPMORGAN CHASE & CO	50,027 (+13.9%)	$16,120 (+16.4%)	0.2%	$297.59	+4.0%	EQUITY	46625H100
ALNY	ALNYLAM PHARMACEUTICALS INC	18,387 (+57.7%)	$7,312 (+37.6%)	0.1%	$310.07	+42.7%	EQUITY	02043Q107
VALE	VALE ADR REPRESENTING ONE SA	160,000 (+220.0%)	$2,085 (+283.9%)	0.0%	$2812.84	—	EQUITY	91912E105
ABNB	AIRBNB INC CLASS A	71,421 (+2.0%)	$9,693 (+14.0%)	0.1%	$140.70	-11.5%	EQUITY	009066101
ROP	ROPER TECHNOLOGIES INC	5,554 (+95.7%)	$2,472 (+74.7%)	0.0%	$497.52	-7.1%	EQUITY	776696106
AUR	AURORA INNOVATION INC CLASS A	1,245,963 (+80.0%)	$4,784 (+28.2%)	0.1%	$5.29	-13.5%	EQUITY	051774107
NOMD	NOMAD FOODS LTD	228,817 (+57.1%)	$2,863 (+49.4%)	0.0%	$16.12	-24.3%	EQUITY	G6564A105
FLY	FIREFLY AEROSPACE INC	114,099 (+86.9%)	$2,552 (+42.6%)	0.0%	$34.81	-33.5%	EQUITY	31816X106
RACE	FERRARI NV	31,602 (+37.3%)	$11,829 (+6.2%)	0.2%	$457.69	-12.6%	EQUITY	N3167Y103
SOFI	SOFI TECHNOLOGIES INC	428,320 (+6.7%)	$11,213 (+5.7%)	0.2%	$23.99	+16.2%	EQUITY	83406F102
NKE	NIKE INC CLASS B	136,541 (+2.4%)	$8,699 (-6.5%)	0.1%	$68.09	-4.7%	EQUITY	654106103
IBN	ICICI BANK ADR REP LTD	283,445 (+7.9%)	$8,447 (+6.4%)	0.1%	$33.36	—	EQUITY	45104G104
VZ	VERIZON COMMUNICATIONS INC	215,067 (+14.1%)	$8,760 (+5.7%)	0.1%	$40.57	-0.2%	EQUITY	92343V104
PSTG	PURE STORAGE INC CLASS A	102,283 (+17.3%)	$6,854 (-6.2%)	0.1%	$60.03	+39.2%	EQUITY	74624M102
SQM	SOCIEDAD QUIMICA Y MINERA DE CHILE	14,000 (+7.7%)	$963 (+72.4%)	0.0%	$44.82	—	EQUITY	833635105
FUTU	FUTU HOLDINGS ADR LTD	3,790 (+152.7%)	$622 (+138.6%)	0.0%	$168.05	—	EQUITY	36118L106
DORM	DORMAN PRODUCTS INC	1,973 (+7.4%)	$243 (-15.1%)	0.0%	$142.87	-5.5%	EQUITY	258278100
BRKR	BRUKER CORP	1,802 (+31.1%)	$85 (+90.2%)	0.0%	$49.51	-14.7%	EQUITY	116794108

Exited Positions (16)

TREX TREX INC 1.0%

Value ($000) $68,827 Shares 1,332,051 Est. Cost $56.63 Unrealized -28.6%

BFAM BRIGHT HORIZONS FAMILY SOLUTIONS I 0.9%

Value ($000) $60,025 Shares 552,873 Est. Cost $143.97 Unrealized -29.9%

SW SMURFIT WESTROCK PLC 0.5%

Value ($000) $31,157 Shares 742,735 Est. Cost $42.16 Unrealized -9.6%

DELL DELL TECHNOLOGIES INC CLASS C 0.4%

Value ($000) $24,825 Shares 175,111 Est. Cost $107.46 Unrealized +31.0%

ANET ARISTA NETWORKS INC 0.1%

Value ($000) $9,122 Shares 62,606 Est. Cost $104.84 Unrealized +31.3%

SAIL SAILPOINT INC 0.1%

Value ($000) $6,494 Shares 294,099 Est. Cost $19.46 Unrealized +7.1%

HUBS HUBSPOT INC 0.1%

Value ($000) $5,068 Shares 10,834 Est. Cost $592.54 Unrealized -30.1%

SOUN SOUNDHOUND AI INC CLASS A 0.1%

Value ($000) $4,349 Shares 270,464 Est. Cost $12.70 Unrealized +13.3%

SG SWEETGREEN INC CLASS A 0.0%

Value ($000) $1,760 Shares 220,529 Est. Cost $25.10 Unrealized -72.6%

MRNA MODERNA INC 0.0%

Value ($000) $1,391 Shares 53,860 Est. Cost $53.42 Unrealized -49.1%

MSCI MSCI INC 0.0%

Value ($000) $756 Shares 1,333 Est. Cost $562.63 Unrealized -0.5%

— ARIS WATER SOLUTIONS INC CLASS A 0.0%

Value ($000) $537 Shares 21,780 Est. Cost $32.04 Unrealized —

BIDU BAIDU ADS REPTG INC CLASS A 0.0%

Value ($000) $537 Shares 4,074 Est. Cost $131.77 Unrealized —

MARA MARA HOLDINGS INC 0.0%

Value ($000) $373 Shares 20,442 Est. Cost $16.85 Unrealized -12.5%

SE SEA ADS REPRESENTING LTD CLASS A 0.0%

Value ($000) $232 Shares 1,297 Est. Cost $130.49 Unrealized —

ATHM AUTOHOME ADS REPRESENTING INC CLA 0.0%

Value ($000) $133 Shares 4,656 Est. Cost $27.72 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TREX	TREX INC	1,332,051	$68,827	1.0%	$56.63	-28.6%	—	89531P105
BFAM	BRIGHT HORIZONS FAMILY SOLUTIONS I	552,873	$60,025	0.9%	$143.97	-29.9%	—	109194100
SW	SMURFIT WESTROCK PLC	742,735	$31,157	0.5%	$42.16	-9.6%	—	G8267P108
DELL	DELL TECHNOLOGIES INC CLASS C	175,111	$24,825	0.4%	$107.46	+31.0%	—	24703L202
ANET	ARISTA NETWORKS INC	62,606	$9,122	0.1%	$104.84	+31.3%	—	040413205
SAIL	SAILPOINT INC	294,099	$6,494	0.1%	$19.46	+7.1%	—	78781J109
HUBS	HUBSPOT INC	10,834	$5,068	0.1%	$592.54	-30.1%	—	443573100
SOUN	SOUNDHOUND AI INC CLASS A	270,464	$4,349	0.1%	$12.70	+13.3%	—	836100107
SG	SWEETGREEN INC CLASS A	220,529	$1,760	0.0%	$25.10	-72.6%	—	87043Q108
MRNA	MODERNA INC	53,860	$1,391	0.0%	$53.42	-49.1%	—	60770K107
MSCI	MSCI INC	1,333	$756	0.0%	$562.63	-0.5%	—	55354G100
—	ARIS WATER SOLUTIONS INC CLASS A	21,780	$537	0.0%	$32.04	—	—	04041L106
BIDU	BAIDU ADS REPTG INC CLASS A	4,074	$537	0.0%	$131.77	—	—	056752108
MARA	MARA HOLDINGS INC	20,442	$373	0.0%	$16.85	-12.5%	—	565788106
SE	SEA ADS REPRESENTING LTD CLASS A	1,297	$232	0.0%	$130.49	—	—	81141R100
ATHM	AUTOHOME ADS REPRESENTING INC CLA	4,656	$133	0.0%	$27.72	—	—	05278C107

Decreased Positions (106)

SPOT SPOTIFY TECHNOLOGY SA 2.0%

Value ($000) $134,484 (-50.7%) Shares 231,585 (-40.8%) Est. Cost $641.84 Unrealized -2.6%

MORN MORNINGSTAR INC 0.0%

Value ($000) $95 (-99.9%) Shares 436 (-99.9%) Est. Cost $221.00 Unrealized -2.0%

CDNS CADENCE DESIGN SYSTEMS INC 2.6%

Value ($000) $177,163 (-24.8%) Shares 566,776 (-15.5%) Est. Cost $143.26 Unrealized +127.8%

FERG FERGUSON ENTERPRISES INC 1.1%

Value ($000) $76,028 (-35.5%) Shares 340,330 (-35.4%) Est. Cost $182.29 Unrealized +30.5%

V VISA INC CLASS A 2.4%

Value ($000) $164,961 (-17.4%) Shares 470,364 (-19.6%) Est. Cost $210.80 Unrealized +61.5%

COIN COINBASE GLOBAL INC CLASS A 0.1%

Value ($000) $9,892 (-77.5%) Shares 43,745 (-66.4%) Est. Cost $275.60 Unrealized +8.1%

MSFT MICROSOFT CORP 3.4%

Value ($000) $227,474 (-11.3%) Shares 470,357 (-5.0%) Est. Cost $361.12 Unrealized +38.6%

PTC PTC INC 1.5%

Value ($000) $102,120 (-21.2%) Shares 586,190 (-8.2%) Est. Cost $127.23 Unrealized +46.1%

BLD TOPBUILD CORP 1.3%

Value ($000) $86,544 (-23.2%) Shares 207,446 (-28.1%) Est. Cost $305.20 Unrealized +40.5%

GOOGL ALPHABET INC CLASS A 4.5%

Value ($000) $302,381 (+9.1%) Shares 966,073 (-15.2%) Est. Cost $113.18 Unrealized +152.3%

VLTO VERALTO CORP 1.9%

Value ($000) $130,694 (-14.4%) Shares 1,309,819 (-8.6%) Est. Cost $78.86 Unrealized +28.1%

VRSN VERISIGN INC 1.3%

Value ($000) $87,341 (-20.2%) Shares 359,500 (-8.1%) Est. Cost $203.10 Unrealized +23.5%

UBER UBER TECHNOLOGIES INC 0.1%

Value ($000) $8,683 (-71.3%) Shares 106,271 (-65.6%) Est. Cost $64.35 Unrealized +39.9%

NVDA NVIDIA CORP 1.5%

Value ($000) $104,215 (-16.2%) Shares 558,796 (-16.2%) Est. Cost $95.71 Unrealized +94.5%

NVR NVR INC 1.4%

Value ($000) $95,120 (-16.8%) Shares 13,043 (-8.3%) Est. Cost $5290.62 Unrealized +41.3%

MASI MASIMO CORP 1.2%

Value ($000) $81,651 (-18.8%) Shares 627,796 (-7.9%) Est. Cost $182.70 Unrealized -21.6%

LLY ELI LILLY 0.3%

Value ($000) $22,531 (-45.2%) Shares 20,965 (-61.1%) Est. Cost $708.04 Unrealized +35.0%

AMT AMERICAN TOWER REIT CORP 1.4%

Value ($000) $93,994 (-16.4%) Shares 535,363 (-8.4%) Est. Cost $216.52 Unrealized -16.7%

ADSK AUTODESK INC 1.6%

Value ($000) $106,046 (-14.6%) Shares 358,252 (-8.4%) Est. Cost $275.44 Unrealized +9.8%

PANW PALO ALTO NETWORKS INC 0.9%

Value ($000) $63,957 (-17.2%) Shares 347,216 (-8.5%) Est. Cost $129.81 Unrealized +55.4%

INTU INTUIT INC 1.6%

Value ($000) $109,363 (-10.8%) Shares 165,096 (-8.0%) Est. Cost $428.66 Unrealized +54.1%

PCTY PAYLOCITY HOLDING CORP 1.4%

Value ($000) $92,986 (-12.3%) Shares 609,746 (-8.4%) Est. Cost $183.48 Unrealized -18.9%

STX SEAGATE TECHNOLOGY HOLDINGS PLC 0.3%

Value ($000) $20,886 (-38.4%) Shares 75,843 (-47.2%) Est. Cost $102.43 Unrealized +152.8%

UBS UBS GROUP AG 1.5%

Value ($000) $104,201 (+12.9%) Shares 2,233,585 (-1.1%) Est. Cost $31.40 Unrealized +28.7%

CNM CORE & MAIN INC CLASS A 1.3%

Value ($000) $89,950 (-11.6%) Shares 1,730,797 (-8.5%) Est. Cost $47.12 Unrealized +8.9%

META META PLATFORMS INC CLASS A 0.6%

Value ($000) $37,995 (-23.2%) Shares 57,560 (-14.5%) Est. Cost $397.13 Unrealized +68.0%

IR INGERSOLL RAND INC 1.2%

Value ($000) $81,088 (-12.3%) Shares 1,023,584 (-8.6%) Est. Cost $79.15 Unrealized -0.3%

DOCS DOXIMITY INC CLASS A 0.1%

Value ($000) $6,465 (-61.3%) Shares 146,004 (-36.0%) Est. Cost $56.36 Unrealized -0.4%

COST COSTCO WHOLESALE CORP 0.1%

Value ($000) $10,057 (-50.4%) Shares 11,662 (-46.8%) Est. Cost $674.75 Unrealized +34.2%

WMT WALMART INC 0.1%

Value ($000) $4,534 (-67.2%) Shares 40,694 (-69.7%) Est. Cost $93.08 Unrealized +15.2%

SHOP SHOPIFY SUBORDINATE VOTING INC CLA 0.6%

Value ($000) $37,499 (-19.4%) Shares 232,942 (-25.6%) Est. Cost $99.12 Unrealized +62.0%

MELI MERCADOLIBRE INC 0.3%

Value ($000) $22,104 (-27.2%) Shares 10,974 (-15.5%) Est. Cost $1332.80 Unrealized +57.6%

CRWD CROWDSTRIKE HOLDINGS INC CLASS A 0.2%

Value ($000) $15,709 (-31.5%) Shares 33,511 (-28.3%) Est. Cost $364.04 Unrealized +39.9%

PLTR PALANTIR TECHNOLOGIES INC CLASS A 0.0%

Value ($000) $3,157 (-69.5%) Shares 17,762 (-68.7%) Est. Cost $73.36 Unrealized +146.8%

TMO THERMO FISHER SCIENTIFIC INC 3.1%

Value ($000) $211,478 (-2.9%) Shares 364,964 (-18.8%) Est. Cost $508.64 Unrealized +11.1%

TSLA TESLA INC 0.2%

Value ($000) $16,153 (-28.5%) Shares 35,918 (-29.3%) Est. Cost $265.62 Unrealized +66.9%

PDD PDD HOLDINGS ADS INC 0.1%

Value ($000) $4,126 (-60.1%) Shares 36,392 (-53.5%) Est. Cost $99.07 Unrealized —

YMM FULL TRUCK ALLIANCE ADR LTD CLASS 0.1%

Value ($000) $5,855 (-50.9%) Shares 545,668 (-40.6%) Est. Cost $9.01 Unrealized —

MU MICRON TECHNOLOGY INC 0.3%

Value ($000) $18,835 (+42.7%) Shares 65,994 (-16.3%) Est. Cost $108.60 Unrealized +111.2%

SCHW CHARLES SCHWAB CORP 1.9%

Value ($000) $131,104 (-4.0%) Shares 1,312,220 (-8.3%) Est. Cost $51.72 Unrealized +83.2%

EXPE EXPEDIA GROUP INC 0.4%

Value ($000) $24,419 (+27.8%) Shares 86,191 (-3.5%) Est. Cost $179.45 Unrealized +37.6%

ARM ARM HOLDINGS AMERICAN DEPOSITARY S 0.2%

Value ($000) $15,842 (-24.7%) Shares 144,929 (-2.6%) Est. Cost $126.85 Unrealized —

BDX BECTON DICKINSON 1.6%

Value ($000) $106,175 (-4.7%) Shares 547,096 (-8.1%) Est. Cost $217.72 Unrealized -12.9%

UPST UPSTART HOLDINGS INC 0.0%

Value ($000) $3,128 (-62.2%) Shares 71,524 (-56.0%) Est. Cost $57.62 Unrealized -20.1%

VRTX VERTEX PHARMACEUTICALS INC 0.1%

Value ($000) $6,821 (-42.5%) Shares 15,046 (-50.3%) Est. Cost $424.45 Unrealized +1.5%

CHKP CHECK POINT SOFTWARE TECHNOLOGIES 0.4%

Value ($000) $26,045 (-14.2%) Shares 140,360 (-4.4%) Est. Cost $220.02 Unrealized -12.1%

WMS ADVANCED DRAINAGE SYSTEMS INC 1.2%

Value ($000) $83,071 (-4.5%) Shares 573,573 (-8.5%) Est. Cost $109.45 Unrealized +32.2%

IDXX IDEXX LABORATORIES INC 1.5%

Value ($000) $102,007 (-3.6%) Shares 150,780 (-9.0%) Est. Cost $434.35 Unrealized +56.8%

TSM TAIWAN SEMICONDUCTOR MANUFACTURING 0.7%

Value ($000) $49,250 (-7.1%) Shares 162,064 (-14.7%) Est. Cost $3617.79 Unrealized —

TCOM TRIP COM GROUP ADR LTD 0.1%

Value ($000) $6,300 (-37.0%) Shares 87,610 (-34.1%) Est. Cost $37.67 Unrealized —

PYPL PAYPAL HOLDINGS INC 0.1%

Value ($000) $9,738 (-27.3%) Shares 166,802 (-16.4%) Est. Cost $167.64 Unrealized -61.3%

LRCX LAM RESEARCH CORP 0.1%

Value ($000) $6,428 (-35.2%) Shares 37,551 (-49.3%) Est. Cost $79.78 Unrealized +94.7%

EBAY EBAY INC 0.5%

Value ($000) $37,054 (-8.5%) Shares 425,415 (-4.5%) Est. Cost $70.22 Unrealized +23.0%

MNTN MNTN INC CLASS A 0.0%

Value ($000) $2,675 (-56.3%) Shares 224,071 (-32.2%) Est. Cost $22.86 Unrealized -37.0%

— QIAGEN NV 0.1%

Value ($000) $6,295 (-33.1%) Shares 137,953 (-35.0%) Est. Cost $47.99 Unrealized —

NET CLOUDFLARE INC CLASS A 0.3%

Value ($000) $22,087 (-11.7%) Shares 112,029 (-3.9%) Est. Cost $109.48 Unrealized +93.2%

A AGILENT TECHNOLOGIES INC 1.4%

Value ($000) $96,037 (-2.7%) Shares 705,794 (-8.2%) Est. Cost $124.50 Unrealized +15.4%

BEP BROOKFIELD RENEWABLE PARTNERS NON 0.3%

Value ($000) $21,205 (-10.5%) Shares 786,251 (-14.5%) Est. Cost $25.51 Unrealized —

UNH UNITEDHEALTH GROUP INC 0.2%

Value ($000) $10,787 (-18.6%) Shares 32,676 (-14.9%) Est. Cost $526.20 Unrealized -35.9%

EXC EXELON CORP 0.0%

Value ($000) $2,844 (-45.4%) Shares 65,251 (-43.7%) Est. Cost $41.77 Unrealized +8.8%

APH AMPHENOL CORP CLASS A 0.7%

Value ($000) $47,557 (-4.6%) Shares 351,909 (-12.7%) Est. Cost $86.22 Unrealized +54.9%

SNOW SNOWFLAKE INC 0.4%

Value ($000) $25,621 (-7.8%) Shares 116,801 (-5.2%) Est. Cost $161.51 Unrealized +51.1%

DHR DANAHER CORP 0.3%

Value ($000) $21,620 (-8.4%) Shares 94,442 (-20.7%) Est. Cost $229.40 Unrealized -4.3%

CART MAPLEBEAR INC 0.1%

Value ($000) $7,035 (-19.2%) Shares 156,407 (-33.9%) Est. Cost $46.04 Unrealized -11.1%

CBOE CBOE GLOBAL MARKETS INC 0.2%

Value ($000) $14,744 (-9.2%) Shares 58,740 (-11.3%) Est. Cost $145.17 Unrealized +71.3%

ELV ELEVANCE HEALTH INC 0.1%

Value ($000) $8,819 (-13.8%) Shares 25,157 (-20.6%) Est. Cost $400.78 Unrealized -16.0%

TRMB TRIMBLE INC 0.1%

Value ($000) $9,111 (-13.2%) Shares 116,287 (-9.5%) Est. Cost $68.38 Unrealized +16.5%

GOOG ALPHABET INC CLASS C 0.2%

Value ($000) $13,061 (+11.7%) Shares 41,622 (-13.3%) Est. Cost $113.18 Unrealized +153.0%

XYZ BLOCK INC CLASS A 0.1%

Value ($000) $8,021 (-12.0%) Shares 123,225 (-2.2%) Est. Cost $74.59 Unrealized -7.5%

PCOR PROCORE TECHNOLOGIES INC 0.1%

Value ($000) $4,800 (-17.7%) Shares 65,982 (-17.5%) Est. Cost $66.96 Unrealized +10.5%

IRMD IRADIMED CORP 0.1%

Value ($000) $3,548 (+31.9%) Shares 36,471 (-3.5%) Est. Cost $42.24 Unrealized +102.1%

ITUB ITAU UNIBANCO HOLDING ADR REP PRE 0.0%

Value ($000) $1,364 (-38.0%) Shares 190,550 (-36.5%) Est. Cost $4574.32 Unrealized —

MS MORGAN STANLEY 0.2%

Value ($000) $10,979 (+7.2%) Shares 61,842 (-4.0%) Est. Cost $92.97 Unrealized +79.1%

BVN BUENAVENTURA ADR REPRESENTING 0.0%

Value ($000) $334 (-67.3%) Shares 12,000 (-71.4%) Est. Cost $16.04 Unrealized —

BAP CREDICORP LTD 0.2%

Value ($000) $14,360 (+4.4%) Shares 50,034 (-3.1%) Est. Cost $198.26 Unrealized +33.6%

MCO MOODYS CORP 0.2%

Value ($000) $11,356 (-4.4%) Shares 22,230 (-10.9%) Est. Cost $474.38 Unrealized +2.7%

RS RELIANCE INC 0.2%

Value ($000) $13,017 (-3.5%) Shares 45,062 (-6.1%) Est. Cost $150.56 Unrealized +86.6%

NDAQ NASDAQ INC 2.0%

Value ($000) $137,708 (+0.3%) Shares 1,417,767 (-8.6%) Est. Cost $53.60 Unrealized +67.4%

TRUP TRUPANION INC 0.0%

Value ($000) $1,831 (-16.7%) Shares 48,992 (-3.5%) Est. Cost $31.43 Unrealized +25.0%

OSIS OSI SYSTEMS INC 0.0%

Value ($000) $327 (-52.5%) Shares 1,283 (-53.6%) Est. Cost $190.49 Unrealized +37.1%

CEG CONSTELLATION ENERGY CORP 0.4%

Value ($000) $27,376 (+1.3%) Shares 77,493 (-5.6%) Est. Cost $222.96 Unrealized +62.9%

WAT WATERS CORP 0.0%

Value ($000) $2,160 (-13.9%) Shares 5,686 (-32.0%) Est. Cost $286.90 Unrealized +28.3%

EW EDWARDS LIFESCIENCES CORP 1.6%

Value ($000) $106,083 (+0.3%) Shares 1,244,381 (-8.5%) Est. Cost $69.80 Unrealized +17.6%

CX CEMEX ADR REPRESENTING PARTICIPAT 0.0%

Value ($000) $529 (-36.1%) Shares 46,000 (-50.0%) Est. Cost $8.99 Unrealized —

MEDP MEDPACE HOLDINGS INC 0.0%

Value ($000) $631 (-29.9%) Shares 1,123 (-35.9%) Est. Cost $336.38 Unrealized +68.8%

LAUR LAUREATE EDUCATION INC 0.0%

Value ($000) $805 (-24.7%) Shares 23,896 (-29.5%) Est. Cost $13.82 Unrealized +123.4%

ONON ON HOLDING AG CLASS A 0.1%

Value ($000) $3,537 (+7.9%) Shares 76,091 (-1.7%) Est. Cost $50.28 Unrealized -14.3%

PL PLANET LABS CLASS A 0.1%

Value ($000) $6,154 (-3.9%) Shares 312,066 (-36.8%) Est. Cost $4.11 Unrealized +248.9%

POOL POOL CORP 0.0%

Value ($000) $449 (-33.3%) Shares 1,962 (-9.6%) Est. Cost $344.07 Unrealized -24.6%

CDRE CADRE HOLDINGS INC 0.0%

Value ($000) $646 (-24.6%) Shares 15,825 (-32.6%) Est. Cost $33.76 Unrealized +22.8%

RELY REMITLY GLOBAL INC 0.0%

Value ($000) $925 (-18.3%) Shares 67,021 (-3.5%) Est. Cost $20.06 Unrealized -27.6%

ICLR ICON PLC 0.1%

Value ($000) $7,984 (-2.5%) Shares 43,817 (-6.4%) Est. Cost $141.84 Unrealized +25.6%

BRC BRADY NONVOTING CORP CLASS A 0.0%

Value ($000) $668 (-21.5%) Shares 8,521 (-21.8%) Est. Cost $71.65 Unrealized +7.7%

TT TRANE TECHNOLOGIES PLC 0.0%

Value ($000) $1,437 (-11.0%) Shares 3,691 (-3.5%) Est. Cost $392.99 Unrealized +5.2%

IPAR INTERPARFUMS INC 0.0%

Value ($000) $522 (-22.1%) Shares 6,159 (-9.7%) Est. Cost $132.19 Unrealized -33.4%

RYAN RYAN SPECIALTY HOLDINGS INC CLASS 0.0%

Value ($000) $450 (-23.8%) Shares 8,725 (-16.8%) Est. Cost $67.19 Unrealized -18.4%

BSY BENTLEY SYSTEMS INC CLASS B 0.0%

Value ($000) $261 (-33.0%) Shares 6,844 (-9.7%) Est. Cost $44.39 Unrealized +2.6%

IBP INSTALLED BUILDING PRODUCTS INC 0.0%

Value ($000) $652 (-13.5%) Shares 2,515 (-17.8%) Est. Cost $143.87 Unrealized +79.5%

CHH CHOICE HOTELS INTERNATIONAL INC 0.0%

Value ($000) $422 (-19.3%) Shares 4,433 (-9.7%) Est. Cost $141.11 Unrealized -32.7%

HIFS HINGHAM INSTITUTION FOR SAVINGS 0.0%

Value ($000) $2,087 (+3.9%) Shares 7,350 (-3.5%) Est. Cost $264.68 Unrealized +7.3%

DFIN DONNELLEY FINANCIAL SOLUTIONS INC 0.0%

Value ($000) $385 (-15.9%) Shares 8,255 (-7.3%) Est. Cost $55.37 Unrealized -12.7%

CIB GRUPO CIBEST AMERICAN DEPOSITARY S 0.0%

Value ($000) $509 (-10.9%) Shares 8,000 (-27.3%) Est. Cost $47.50 Unrealized —

HLNE HAMILTON LANE INC CLASS A 0.0%

Value ($000) $351 (-10.0%) Shares 2,610 (-9.7%) Est. Cost $152.40 Unrealized -17.5%

AFRM AFFIRM HOLDINGS INC CLASS A 0.1%

Value ($000) $4,075 (+0.7%) Shares 54,743 (-1.2%) Est. Cost $63.73 Unrealized +12.9%

UFPT UFP TECHNOLOGIES INC 0.0%

Value ($000) $406 (+5.0%) Shares 1,828 (-5.6%) Est. Cost $237.40 Unrealized -9.8%

AU ANGLOGOLD ASHANTI PLC 0.0%

Value ($000) $214 (+0.5%) Shares 2,478 (-18.3%) Est. Cost $54.92 Unrealized +41.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPOT	SPOTIFY TECHNOLOGY SA	231,585 (-40.8%)	$134,484 (-50.7%)	2.0%	$641.84	-2.6%	EQUITY	L8681T102
MORN	MORNINGSTAR INC	436 (-99.9%)	$95 (-99.9%)	0.0%	$221.00	-2.0%	EQUITY	617700109
CDNS	CADENCE DESIGN SYSTEMS INC	566,776 (-15.5%)	$177,163 (-24.8%)	2.6%	$143.26	+127.8%	EQUITY	127387108
FERG	FERGUSON ENTERPRISES INC	340,330 (-35.4%)	$76,028 (-35.5%)	1.1%	$182.29	+30.5%	EQUITY	31488V107
V	VISA INC CLASS A	470,364 (-19.6%)	$164,961 (-17.4%)	2.4%	$210.80	+61.5%	EQUITY	92826C839
COIN	COINBASE GLOBAL INC CLASS A	43,745 (-66.4%)	$9,892 (-77.5%)	0.1%	$275.60	+8.1%	EQUITY	19260Q107
MSFT	MICROSOFT CORP	470,357 (-5.0%)	$227,474 (-11.3%)	3.4%	$361.12	+38.6%	EQUITY	594918104
PTC	PTC INC	586,190 (-8.2%)	$102,120 (-21.2%)	1.5%	$127.23	+46.1%	EQUITY	69370C100
BLD	TOPBUILD CORP	207,446 (-28.1%)	$86,544 (-23.2%)	1.3%	$305.20	+40.5%	EQUITY	89055F103
GOOGL	ALPHABET INC CLASS A	966,073 (-15.2%)	$302,381 (+9.1%)	4.5%	$113.18	+152.3%	EQUITY	02079K305
VLTO	VERALTO CORP	1,309,819 (-8.6%)	$130,694 (-14.4%)	1.9%	$78.86	+28.1%	EQUITY	92338C103
VRSN	VERISIGN INC	359,500 (-8.1%)	$87,341 (-20.2%)	1.3%	$203.10	+23.5%	EQUITY	92343E102
UBER	UBER TECHNOLOGIES INC	106,271 (-65.6%)	$8,683 (-71.3%)	0.1%	$64.35	+39.9%	EQUITY	90353T100
NVDA	NVIDIA CORP	558,796 (-16.2%)	$104,215 (-16.2%)	1.5%	$95.71	+94.5%	EQUITY	67066G104
NVR	NVR INC	13,043 (-8.3%)	$95,120 (-16.8%)	1.4%	$5290.62	+41.3%	EQUITY	62944T105
MASI	MASIMO CORP	627,796 (-7.9%)	$81,651 (-18.8%)	1.2%	$182.70	-21.6%	EQUITY	574795100
LLY	ELI LILLY	20,965 (-61.1%)	$22,531 (-45.2%)	0.3%	$708.04	+35.0%	EQUITY	532457108
AMT	AMERICAN TOWER REIT CORP	535,363 (-8.4%)	$93,994 (-16.4%)	1.4%	$216.52	-16.7%	EQUITY	03027X100
ADSK	AUTODESK INC	358,252 (-8.4%)	$106,046 (-14.6%)	1.6%	$275.44	+9.8%	EQUITY	052769106
PANW	PALO ALTO NETWORKS INC	347,216 (-8.5%)	$63,957 (-17.2%)	0.9%	$129.81	+55.4%	EQUITY	697435105
INTU	INTUIT INC	165,096 (-8.0%)	$109,363 (-10.8%)	1.6%	$428.66	+54.1%	EQUITY	461202103
PCTY	PAYLOCITY HOLDING CORP	609,746 (-8.4%)	$92,986 (-12.3%)	1.4%	$183.48	-18.9%	EQUITY	70438V106
STX	SEAGATE TECHNOLOGY HOLDINGS PLC	75,843 (-47.2%)	$20,886 (-38.4%)	0.3%	$102.43	+152.8%	EQUITY	G7997R103
UBS	UBS GROUP AG	2,233,585 (-1.1%)	$104,201 (+12.9%)	1.5%	$31.40	+28.7%	EQUITY	H42097107
CNM	CORE & MAIN INC CLASS A	1,730,797 (-8.5%)	$89,950 (-11.6%)	1.3%	$47.12	+8.9%	EQUITY	21874C102
META	META PLATFORMS INC CLASS A	57,560 (-14.5%)	$37,995 (-23.2%)	0.6%	$397.13	+68.0%	EQUITY	30303M102
IR	INGERSOLL RAND INC	1,023,584 (-8.6%)	$81,088 (-12.3%)	1.2%	$79.15	-0.3%	EQUITY	45687V106
DOCS	DOXIMITY INC CLASS A	146,004 (-36.0%)	$6,465 (-61.3%)	0.1%	$56.36	-0.4%	EQUITY	26622P107
COST	COSTCO WHOLESALE CORP	11,662 (-46.8%)	$10,057 (-50.4%)	0.1%	$674.75	+34.2%	EQUITY	22160K105
WMT	WALMART INC	40,694 (-69.7%)	$4,534 (-67.2%)	0.1%	$93.08	+15.2%	EQUITY	931142103
SHOP	SHOPIFY SUBORDINATE VOTING INC CLA	232,942 (-25.6%)	$37,499 (-19.4%)	0.6%	$99.12	+62.0%	EQUITY	82509L107
MELI	MERCADOLIBRE INC	10,974 (-15.5%)	$22,104 (-27.2%)	0.3%	$1332.80	+57.6%	EQUITY	58733R102
CRWD	CROWDSTRIKE HOLDINGS INC CLASS A	33,511 (-28.3%)	$15,709 (-31.5%)	0.2%	$364.04	+39.9%	EQUITY	22788C105
PLTR	PALANTIR TECHNOLOGIES INC CLASS A	17,762 (-68.7%)	$3,157 (-69.5%)	0.0%	$73.36	+146.8%	EQUITY	69608A108
TMO	THERMO FISHER SCIENTIFIC INC	364,964 (-18.8%)	$211,478 (-2.9%)	3.1%	$508.64	+11.1%	EQUITY	883556102
TSLA	TESLA INC	35,918 (-29.3%)	$16,153 (-28.5%)	0.2%	$265.62	+66.9%	EQUITY	88160R101
PDD	PDD HOLDINGS ADS INC	36,392 (-53.5%)	$4,126 (-60.1%)	0.1%	$99.07	—	EQUITY	722304102
YMM	FULL TRUCK ALLIANCE ADR LTD CLASS	545,668 (-40.6%)	$5,855 (-50.9%)	0.1%	$9.01	—	EQUITY	35969L108
MU	MICRON TECHNOLOGY INC	65,994 (-16.3%)	$18,835 (+42.7%)	0.3%	$108.60	+111.2%	EQUITY	595112103
SCHW	CHARLES SCHWAB CORP	1,312,220 (-8.3%)	$131,104 (-4.0%)	1.9%	$51.72	+83.2%	EQUITY	808513105
EXPE	EXPEDIA GROUP INC	86,191 (-3.5%)	$24,419 (+27.8%)	0.4%	$179.45	+37.6%	EQUITY	30212P303
ARM	ARM HOLDINGS AMERICAN DEPOSITARY S	144,929 (-2.6%)	$15,842 (-24.7%)	0.2%	$126.85	—	EQUITY	042068205
BDX	BECTON DICKINSON	547,096 (-8.1%)	$106,175 (-4.7%)	1.6%	$217.72	-12.9%	EQUITY	075887109
UPST	UPSTART HOLDINGS INC	71,524 (-56.0%)	$3,128 (-62.2%)	0.0%	$57.62	-20.1%	EQUITY	91680M107
VRTX	VERTEX PHARMACEUTICALS INC	15,046 (-50.3%)	$6,821 (-42.5%)	0.1%	$424.45	+1.5%	EQUITY	92532F100
CHKP	CHECK POINT SOFTWARE TECHNOLOGIES	140,360 (-4.4%)	$26,045 (-14.2%)	0.4%	$220.02	-12.1%	EQUITY	M22465104
WMS	ADVANCED DRAINAGE SYSTEMS INC	573,573 (-8.5%)	$83,071 (-4.5%)	1.2%	$109.45	+32.2%	EQUITY	00790R104
IDXX	IDEXX LABORATORIES INC	150,780 (-9.0%)	$102,007 (-3.6%)	1.5%	$434.35	+56.8%	EQUITY	45168D104
TSM	TAIWAN SEMICONDUCTOR MANUFACTURING	162,064 (-14.7%)	$49,250 (-7.1%)	0.7%	$3617.79	—	EQUITY	874039100
TCOM	TRIP COM GROUP ADR LTD	87,610 (-34.1%)	$6,300 (-37.0%)	0.1%	$37.67	—	EQUITY	89677Q107
PYPL	PAYPAL HOLDINGS INC	166,802 (-16.4%)	$9,738 (-27.3%)	0.1%	$167.64	-61.3%	EQUITY	70450Y103
LRCX	LAM RESEARCH CORP	37,551 (-49.3%)	$6,428 (-35.2%)	0.1%	$79.78	+94.7%	EQUITY	512807306
EBAY	EBAY INC	425,415 (-4.5%)	$37,054 (-8.5%)	0.5%	$70.22	+23.0%	EQUITY	278642103
MNTN	MNTN INC CLASS A	224,071 (-32.2%)	$2,675 (-56.3%)	0.0%	$22.86	-37.0%	EQUITY	55318A108
—	QIAGEN NV	137,953 (-35.0%)	$6,295 (-33.1%)	0.1%	$47.99	—	EQUITY	N72482206
NET	CLOUDFLARE INC CLASS A	112,029 (-3.9%)	$22,087 (-11.7%)	0.3%	$109.48	+93.2%	EQUITY	18915M107
A	AGILENT TECHNOLOGIES INC	705,794 (-8.2%)	$96,037 (-2.7%)	1.4%	$124.50	+15.4%	EQUITY	00846U101
BEP	BROOKFIELD RENEWABLE PARTNERS NON	786,251 (-14.5%)	$21,205 (-10.5%)	0.3%	$25.51	—	EQUITY	G16258108
UNH	UNITEDHEALTH GROUP INC	32,676 (-14.9%)	$10,787 (-18.6%)	0.2%	$526.20	-35.9%	EQUITY	91324P102
EXC	EXELON CORP	65,251 (-43.7%)	$2,844 (-45.4%)	0.0%	$41.77	+8.8%	EQUITY	30161N101
APH	AMPHENOL CORP CLASS A	351,909 (-12.7%)	$47,557 (-4.6%)	0.7%	$86.22	+54.9%	EQUITY	032095101
SNOW	SNOWFLAKE INC	116,801 (-5.2%)	$25,621 (-7.8%)	0.4%	$161.51	+51.1%	EQUITY	833445109
DHR	DANAHER CORP	94,442 (-20.7%)	$21,620 (-8.4%)	0.3%	$229.40	-4.3%	EQUITY	235851102
CART	MAPLEBEAR INC	156,407 (-33.9%)	$7,035 (-19.2%)	0.1%	$46.04	-11.1%	EQUITY	565394103
CBOE	CBOE GLOBAL MARKETS INC	58,740 (-11.3%)	$14,744 (-9.2%)	0.2%	$145.17	+71.3%	EQUITY	12503M108
ELV	ELEVANCE HEALTH INC	25,157 (-20.6%)	$8,819 (-13.8%)	0.1%	$400.78	-16.0%	EQUITY	036752103
TRMB	TRIMBLE INC	116,287 (-9.5%)	$9,111 (-13.2%)	0.1%	$68.38	+16.5%	EQUITY	896239100
GOOG	ALPHABET INC CLASS C	41,622 (-13.3%)	$13,061 (+11.7%)	0.2%	$113.18	+153.0%	EQUITY	02079K107
XYZ	BLOCK INC CLASS A	123,225 (-2.2%)	$8,021 (-12.0%)	0.1%	$74.59	-7.5%	EQUITY	852234103
PCOR	PROCORE TECHNOLOGIES INC	65,982 (-17.5%)	$4,800 (-17.7%)	0.1%	$66.96	+10.5%	EQUITY	74275K108
IRMD	IRADIMED CORP	36,471 (-3.5%)	$3,548 (+31.9%)	0.1%	$42.24	+102.1%	EQUITY	46266A109
ITUB	ITAU UNIBANCO HOLDING ADR REP PRE	190,550 (-36.5%)	$1,364 (-38.0%)	0.0%	$4574.32	—	EQUITY	465562106
MS	MORGAN STANLEY	61,842 (-4.0%)	$10,979 (+7.2%)	0.2%	$92.97	+79.1%	EQUITY	617446448
BVN	BUENAVENTURA ADR REPRESENTING	12,000 (-71.4%)	$334 (-67.3%)	0.0%	$16.04	—	EQUITY	204448104
BAP	CREDICORP LTD	50,034 (-3.1%)	$14,360 (+4.4%)	0.2%	$198.26	+33.6%	EQUITY	G2519Y108
MCO	MOODYS CORP	22,230 (-10.9%)	$11,356 (-4.4%)	0.2%	$474.38	+2.7%	EQUITY	615369105
RS	RELIANCE INC	45,062 (-6.1%)	$13,017 (-3.5%)	0.2%	$150.56	+86.6%	EQUITY	759509102
NDAQ	NASDAQ INC	1,417,767 (-8.6%)	$137,708 (+0.3%)	2.0%	$53.60	+67.4%	EQUITY	631103108
TRUP	TRUPANION INC	48,992 (-3.5%)	$1,831 (-16.7%)	0.0%	$31.43	+25.0%	EQUITY	898202106
OSIS	OSI SYSTEMS INC	1,283 (-53.6%)	$327 (-52.5%)	0.0%	$190.49	+37.1%	EQUITY	671044105
CEG	CONSTELLATION ENERGY CORP	77,493 (-5.6%)	$27,376 (+1.3%)	0.4%	$222.96	+62.9%	EQUITY	21037T109
WAT	WATERS CORP	5,686 (-32.0%)	$2,160 (-13.9%)	0.0%	$286.90	+28.3%	EQUITY	941848103
EW	EDWARDS LIFESCIENCES CORP	1,244,381 (-8.5%)	$106,083 (+0.3%)	1.6%	$69.80	+17.6%	EQUITY	28176E108
CX	CEMEX ADR REPRESENTING PARTICIPAT	46,000 (-50.0%)	$529 (-36.1%)	0.0%	$8.99	—	EQUITY	151290889
MEDP	MEDPACE HOLDINGS INC	1,123 (-35.9%)	$631 (-29.9%)	0.0%	$336.38	+68.8%	EQUITY	58506Q109
LAUR	LAUREATE EDUCATION INC	23,896 (-29.5%)	$805 (-24.7%)	0.0%	$13.82	+123.4%	EQUITY	518613203
ONON	ON HOLDING AG CLASS A	76,091 (-1.7%)	$3,537 (+7.9%)	0.1%	$50.28	-14.3%	EQUITY	H5919C104
PL	PLANET LABS CLASS A	312,066 (-36.8%)	$6,154 (-3.9%)	0.1%	$4.11	+248.9%	EQUITY	72703X106
POOL	POOL CORP	1,962 (-9.6%)	$449 (-33.3%)	0.0%	$344.07	-24.6%	EQUITY	73278L105
CDRE	CADRE HOLDINGS INC	15,825 (-32.6%)	$646 (-24.6%)	0.0%	$33.76	+22.8%	EQUITY	12763L105
RELY	REMITLY GLOBAL INC	67,021 (-3.5%)	$925 (-18.3%)	0.0%	$20.06	-27.6%	EQUITY	75960P104
ICLR	ICON PLC	43,817 (-6.4%)	$7,984 (-2.5%)	0.1%	$141.84	+25.6%	EQUITY	G4705A100
BRC	BRADY NONVOTING CORP CLASS A	8,521 (-21.8%)	$668 (-21.5%)	0.0%	$71.65	+7.7%	EQUITY	104674106
TT	TRANE TECHNOLOGIES PLC	3,691 (-3.5%)	$1,437 (-11.0%)	0.0%	$392.99	+5.2%	EQUITY	G8994E103
IPAR	INTERPARFUMS INC	6,159 (-9.7%)	$522 (-22.1%)	0.0%	$132.19	-33.4%	EQUITY	458334109
RYAN	RYAN SPECIALTY HOLDINGS INC CLASS	8,725 (-16.8%)	$450 (-23.8%)	0.0%	$67.19	-18.4%	EQUITY	78351F107
BSY	BENTLEY SYSTEMS INC CLASS B	6,844 (-9.7%)	$261 (-33.0%)	0.0%	$44.39	+2.6%	EQUITY	08265T208
IBP	INSTALLED BUILDING PRODUCTS INC	2,515 (-17.8%)	$652 (-13.5%)	0.0%	$143.87	+79.5%	EQUITY	45780R101
CHH	CHOICE HOTELS INTERNATIONAL INC	4,433 (-9.7%)	$422 (-19.3%)	0.0%	$141.11	-32.7%	EQUITY	169905106
HIFS	HINGHAM INSTITUTION FOR SAVINGS	7,350 (-3.5%)	$2,087 (+3.9%)	0.0%	$264.68	+7.3%	EQUITY	433323102
DFIN	DONNELLEY FINANCIAL SOLUTIONS INC	8,255 (-7.3%)	$385 (-15.9%)	0.0%	$55.37	-12.7%	EQUITY	25787G100
CIB	GRUPO CIBEST AMERICAN DEPOSITARY S	8,000 (-27.3%)	$509 (-10.9%)	0.0%	$47.50	—	EQUITY	40090E106
HLNE	HAMILTON LANE INC CLASS A	2,610 (-9.7%)	$351 (-10.0%)	0.0%	$152.40	-17.5%	EQUITY	407497106
AFRM	AFFIRM HOLDINGS INC CLASS A	54,743 (-1.2%)	$4,075 (+0.7%)	0.1%	$63.73	+12.9%	EQUITY	00827B106
UFPT	UFP TECHNOLOGIES INC	1,828 (-5.6%)	$406 (+5.0%)	0.0%	$237.40	-9.8%	EQUITY	902673102
AU	ANGLOGOLD ASHANTI PLC	2,478 (-18.3%)	$214 (+0.5%)	0.0%	$54.92	+41.1%	EQUITY	G0378L100

Unchanged Positions (16)

ISRG INTUITIVE SURGICAL INC 2.5%

Value ($000) $166,683 Shares 294,305 Est. Cost $340.76 Unrealized +56.2%

NEM NEWMONT 0.6%

Value ($000) $38,405 Shares 384,631 Est. Cost $47.90 Unrealized +88.3%

B BARRICK MINING CORP 0.3%

Value ($000) $20,738 Shares 476,177 Est. Cost $19.29 Unrealized +94.0%

AESI ATLAS ENERGY SOLUTIONS INC 0.2%

Value ($000) $12,346 Shares 1,310,646 Est. Cost $13.14 Unrealized -23.1%

TMUS T MOBILE US INC 0.1%

Value ($000) $7,985 Shares 39,327 Est. Cost $240.65 Unrealized -12.2%

APO APOLLO GLOBAL MANAGEMENT INC 0.2%

Value ($000) $16,791 Shares 115,991 Est. Cost $147.48 Unrealized -10.1%

MNST MONSTER BEVERAGE CORP 0.1%

Value ($000) $7,589 Shares 98,986 Est. Cost $55.79 Unrealized +28.4%

BKNG BOOKING HOLDINGS INC 1.7%

Value ($000) $114,202 Shares 21,325 Est. Cost $4629.08 Unrealized +11.0%

CSGP COSTAR GROUP INC 0.0%

Value ($000) $1,905 Shares 28,324 Est. Cost $75.98 Unrealized -6.8%

CNC CENTENE CORP 0.1%

Value ($000) $3,605 Shares 87,602 Est. Cost $57.38 Unrealized -34.8%

INTC INTEL CORPORATION CORP 0.0%

Value ($000) $3,051 Shares 82,689 Est. Cost $24.23 Unrealized +55.9%

MTD METTLER TOLEDO INC 0.0%

Value ($000) $1,582 Shares 1,135 Est. Cost $1210.54 Unrealized +15.4%

AEM AGNICO EAGLE MINES LTD 0.4%

Value ($000) $25,746 Shares 151,869 Est. Cost $106.85 Unrealized +57.1%

VNET VNET GROUP ADR INC 0.0%

Value ($000) $344 Shares 40,643 Est. Cost $8.60 Unrealized —

LTM LATAM AIRLINES GROUP AMERICAN DEPO 0.0%

Value ($000) $217 Shares 4,026 Est. Cost $32.52 Unrealized —

ADBE ADOBE INC 0.0%

Value ($000) $862 Shares 2,464 Est. Cost $468.51 Unrealized -27.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ISRG	INTUITIVE SURGICAL INC	294,305	$166,683	2.5%	$340.76	+56.2%	EQUITY	46120E602
NEM	NEWMONT	384,631	$38,405	0.6%	$47.90	+88.3%	EQUITY	651639106
B	BARRICK MINING CORP	476,177	$20,738	0.3%	$19.29	+94.0%	EQUITY	06849F108
AESI	ATLAS ENERGY SOLUTIONS INC	1,310,646	$12,346	0.2%	$13.14	-23.1%	EQUITY	642045108
TMUS	T MOBILE US INC	39,327	$7,985	0.1%	$240.65	-12.2%	EQUITY	872590104
APO	APOLLO GLOBAL MANAGEMENT INC	115,991	$16,791	0.2%	$147.48	-10.1%	EQUITY	03769M106
MNST	MONSTER BEVERAGE CORP	98,986	$7,589	0.1%	$55.79	+28.4%	EQUITY	61174X109
BKNG	BOOKING HOLDINGS INC	21,325	$114,202	1.7%	$4629.08	+11.0%	EQUITY	09857L108
CSGP	COSTAR GROUP INC	28,324	$1,905	0.0%	$75.98	-6.8%	EQUITY	22160N109
CNC	CENTENE CORP	87,602	$3,605	0.1%	$57.38	-34.8%	EQUITY	15135B101
INTC	INTEL CORPORATION CORP	82,689	$3,051	0.0%	$24.23	+55.9%	EQUITY	458140100
MTD	METTLER TOLEDO INC	1,135	$1,582	0.0%	$1210.54	+15.4%	EQUITY	592688105
AEM	AGNICO EAGLE MINES LTD	151,869	$25,746	0.4%	$106.85	+57.1%	EQUITY	008474108
VNET	VNET GROUP ADR INC	40,643	$344	0.0%	$8.60	—	EQUITY	90138A103
LTM	LATAM AIRLINES GROUP AMERICAN DEPO	4,026	$217	0.0%	$32.52	—	EQUITY	51817R205
ADBE	ADOBE INC	2,464	$862	0.0%	$468.51	-27.4%	EQUITY	00724F101