Sandhill Capital Partners LLC Diversified Active

CIK: 0001556245 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $1,403,901 (100.0% shares, 0.0% debt)

Holdings (104)

New Positions (3)

— STATE STREET SPDR S&P 500 TRUS 0.8%

Value ($000) $11,531 Shares 16,910 Est. Cost $681.92 Unrealized —

VBIL VANGUARD 0-3 MONTH TREASURY ET 0.2%

Value ($000) $2,633 Shares 34,912 Est. Cost $75.43 Unrealized —

— TRAVELERS COS INC 0.0%

Value ($000) $206 Shares 710 Est. Cost $290.26 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	STATE STREET SPDR S&P 500 TRUS	16,910	$11,531	0.8%	$681.92	—	COM	78462f103
VBIL	VANGUARD 0-3 MONTH TREASURY ET	34,912	$2,633	0.2%	$75.43	—	COM	922040845
—	TRAVELERS COS INC	710	$206	0.0%	$290.26	—	COM	89417e109

Increased Positions (23)

— GUIDEWIRE SOFTWARE INC 3.0%

Value ($000) $41,715 (+75.6%) Shares 207,529 (+100.8%) Est. Cost $215.37 Unrealized —

— SERVICENOW INC 3.6%

Value ($000) $50,157 (-19.4%) Shares 327,416 (+384.4%) Est. Cost $311.56 Unrealized —

— ISHARES 0-3 MONTH TREASURY BON 1.7%

Value ($000) $23,551 (+102.9%) Shares 234,618 (+103.5%) Est. Cost $100.53 Unrealized —

— SERVICETITAN INC CLASS A 2.6%

Value ($000) $36,599 (+35.2%) Shares 343,650 (+28.0%) Est. Cost $102.07 Unrealized —

— ST STERT SPDR BLMBG 1 3 MN T B 6.4%

Value ($000) $90,538 (+6.1%) Shares 990,791 (+6.5%) Est. Cost $91.73 Unrealized —

AJG GALLAGHER ARTHUR J & CO 2.6%

Value ($000) $36,983 (+10.3%) Shares 142,909 (+32.0%) Est. Cost $291.47 Unrealized -9.3%

TYL TYLER TECHNOLOGIES INC 3.2%

Value ($000) $45,456 (-3.2%) Shares 100,135 (+11.6%) Est. Cost $341.89 Unrealized +39.3%

VOO VANGUARD S&P 500 ETF 0.2%

Value ($000) $2,544 (+63.0%) Shares 4,056 (+59.1%) Est. Cost $564.20 Unrealized —

PG PROCTER & GAMBLE CO 0.5%

Value ($000) $7,026 (+13.1%) Shares 49,028 (+21.3%) Est. Cost $121.82 Unrealized +20.8%

— BITWISE BITCOIN ETF 0.0%

Value ($000) $506 (+132.9%) Shares 10,635 (+204.6%) Est. Cost $52.37 Unrealized —

— ALPHABET INC CLASS CLASS A 0.0%

Value ($000) $471 (+59.6%) Shares 1,504 (+24.0%) Est. Cost $202.69 Unrealized —

AVUS AVANTIS US EQUITY ETF 0.0%

Value ($000) $337 (+53.9%) Shares 3,018 (+49.6%) Est. Cost $104.46 Unrealized —

IVV ISHARES CORE S&P 500 ETF 0.1%

Value ($000) $1,890 (+3.6%) Shares 2,760 (+1.2%) Est. Cost $396.03 Unrealized —

— TESLA INC 0.1%

Value ($000) $820 (+6.9%) Shares 1,823 (+5.7%) Est. Cost $331.73 Unrealized —

— ISHARES CORE MSCI EAFE ETF 0.1%

Value ($000) $1,191 (+4.1%) Shares 13,313 (+1.6%) Est. Cost $71.30 Unrealized —

IWM ISHARES RUSSELL 2000 ETF 0.0%

Value ($000) $257 (+21.2%) Shares 1,045 (+19.2%) Est. Cost $242.72 Unrealized —

— EXXON MOBIL CORP 0.0%

Value ($000) $560 (+7.9%) Shares 4,652 (+1.1%) Est. Cost $117.26 Unrealized —

— AT&T INC 0.0%

Value ($000) $441 (-6.8%) Shares 17,772 (+6.0%) Est. Cost $16.02 Unrealized —

GIS GENERAL MILLS INC 0.1%

Value ($000) $891 (+3.7%) Shares 19,159 (+12.4%) Est. Cost $53.42 Unrealized -11.2%

IGIB ISHARES TRT IS 5-10 INV GR CR 0.0%

Value ($000) $399 (+8.6%) Shares 7,407 (+9.1%) Est. Cost $52.94 Unrealized —

— TRUIST FINL CORP 0.0%

Value ($000) $237 (+9.5%) Shares 4,818 (+1.7%) Est. Cost $30.89 Unrealized —

LQD ISHARES IBOXX INVT GRADE BOND 0.0%

Value ($000) $289 (+7.2%) Shares 2,621 (+8.4%) Est. Cost $110.65 Unrealized —

IBM IBM CORP 0.0%

Value ($000) $221 (+7.1%) Shares 745 (+2.1%) Est. Cost $254.73 Unrealized +17.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	GUIDEWIRE SOFTWARE INC	207,529 (+100.8%)	$41,715 (+75.6%)	3.0%	$215.37	—	COM	40171v100
—	SERVICENOW INC	327,416 (+384.4%)	$50,157 (-19.4%)	3.6%	$311.56	—	COM	81762p102
—	ISHARES 0-3 MONTH TREASURY BON	234,618 (+103.5%)	$23,551 (+102.9%)	1.7%	$100.53	—	COM	46436e718
—	SERVICETITAN INC CLASS A	343,650 (+28.0%)	$36,599 (+35.2%)	2.6%	$102.07	—	COM	81764x103
—	ST STERT SPDR BLMBG 1 3 MN T B	990,791 (+6.5%)	$90,538 (+6.1%)	6.4%	$91.73	—	COM	78468r663
AJG	GALLAGHER ARTHUR J & CO	142,909 (+32.0%)	$36,983 (+10.3%)	2.6%	$291.47	-9.3%	COM	363576109
TYL	TYLER TECHNOLOGIES INC	100,135 (+11.6%)	$45,456 (-3.2%)	3.2%	$341.89	+39.3%	COM	902252105
VOO	VANGUARD S&P 500 ETF	4,056 (+59.1%)	$2,544 (+63.0%)	0.2%	$564.20	—	COM	922908363
PG	PROCTER & GAMBLE CO	49,028 (+21.3%)	$7,026 (+13.1%)	0.5%	$121.82	+20.8%	COM	742718109
—	BITWISE BITCOIN ETF	10,635 (+204.6%)	$506 (+132.9%)	0.0%	$52.37	—	COM	09174c104
—	ALPHABET INC CLASS CLASS A	1,504 (+24.0%)	$471 (+59.6%)	0.0%	$202.69	—	COM	02079k305
AVUS	AVANTIS US EQUITY ETF	3,018 (+49.6%)	$337 (+53.9%)	0.0%	$104.46	—	COM	025072885
IVV	ISHARES CORE S&P 500 ETF	2,760 (+1.2%)	$1,890 (+3.6%)	0.1%	$396.03	—	COM	464287200
—	TESLA INC	1,823 (+5.7%)	$820 (+6.9%)	0.1%	$331.73	—	COM	88160r101
—	ISHARES CORE MSCI EAFE ETF	13,313 (+1.6%)	$1,191 (+4.1%)	0.1%	$71.30	—	COM	46432f842
IWM	ISHARES RUSSELL 2000 ETF	1,045 (+19.2%)	$257 (+21.2%)	0.0%	$242.72	—	COM	464287655
—	EXXON MOBIL CORP	4,652 (+1.1%)	$560 (+7.9%)	0.0%	$117.26	—	COM	30231g102
—	AT&T INC	17,772 (+6.0%)	$441 (-6.8%)	0.0%	$16.02	—	COM	00206r102
GIS	GENERAL MILLS INC	19,159 (+12.4%)	$891 (+3.7%)	0.1%	$53.42	-11.2%	COM	370334104
IGIB	ISHARES TRT IS 5-10 INV GR CR	7,407 (+9.1%)	$399 (+8.6%)	0.0%	$52.94	—	COM	464288638
—	TRUIST FINL CORP	4,818 (+1.7%)	$237 (+9.5%)	0.0%	$30.89	—	COM	89832q109
LQD	ISHARES IBOXX INVT GRADE BOND	2,621 (+8.4%)	$289 (+7.2%)	0.0%	$110.65	—	COM	464287242
IBM	IBM CORP	745 (+2.1%)	$221 (+7.1%)	0.0%	$254.73	+17.3%	COM	459200101

Exited Positions (6)

— TRANSMEDICS GROUP INC 0.0%

Value ($000) $300 Shares 2,674 Est. Cost $62.35 Unrealized —

— D R HORTON INC 0.0%

Value ($000) $217 Shares 1,279 Est. Cost $169.47 Unrealized —

PGR PROGRESSIVE CORP OH 0.0%

Value ($000) $213 Shares 862 Est. Cost $214.15 Unrealized -0.8%

GMGI GOLDEN MATRIX GROUP INC 0.0%

Value ($000) $195 Shares 173,006 Est. Cost $1.37 Unrealized -33.3%

WMLLF WEALTH MINERALS LTD F 0.0%

Value ($000) $2 Shares 17,795 Est. Cost $0.27 Unrealized -74.3%

ENZC ENZOLYTICS INC 0.0%

Value ($000) $0 Shares 100,000 Est. Cost $0.00 Unrealized -65.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	TRANSMEDICS GROUP INC	2,674	$300	0.0%	$62.35	—	—	89377m109
—	D R HORTON INC	1,279	$217	0.0%	$169.47	—	—	23331a109
PGR	PROGRESSIVE CORP OH	862	$213	0.0%	$214.15	-0.8%	—	743315103
GMGI	GOLDEN MATRIX GROUP INC	173,006	$195	0.0%	$1.37	-33.3%	—	381098300
WMLLF	WEALTH MINERALS LTD F	17,795	$2	0.0%	$0.27	-74.3%	—	946885209
ENZC	ENZOLYTICS INC	100,000	$0	0.0%	$0.00	-65.0%	—	294112107

Decreased Positions (37)

DHR DANAHER CORP 0.0%

Value ($000) $518 (-97.8%) Shares 2,263 (-98.1%) Est. Cost $221.55 Unrealized -0.9%

— AECOM 3.2%

Value ($000) $45,012 (-29.1%) Shares 472,172 (-3.0%) Est. Cost $130.47 Unrealized —

— SITEONE LANDSCAPE SUPPLY 1.1%

Value ($000) $15,721 (-50.0%) Shares 126,212 (-48.3%) Est. Cost $128.80 Unrealized —

— INTUITIVE SURGICAL INC 4.6%

Value ($000) $64,839 (+23.2%) Shares 114,484 (-2.7%) Est. Cost $447.23 Unrealized —

— UBER TECHNOLOGIES INC 3.7%

Value ($000) $52,124 (-18.8%) Shares 637,915 (-2.7%) Est. Cost $97.97 Unrealized —

PANW PALO ALTO NETWORKS INC 5.3%

Value ($000) $73,833 (-12.5%) Shares 400,833 (-3.3%) Est. Cost $131.96 Unrealized +52.9%

ANET ARISTA NETWORKS INC 3.5%

Value ($000) $49,297 (-12.6%) Shares 376,227 (-2.8%) Est. Cost $96.18 Unrealized +43.1%

CDNS CADENCE DESIGN SYS INC 2.9%

Value ($000) $40,366 (-13.2%) Shares 129,137 (-2.5%) Est. Cost $285.21 Unrealized +14.4%

— LINDE PLC F 2.7%

Value ($000) $38,346 (-12.3%) Shares 89,933 (-2.3%) Est. Cost $475.00 Unrealized —

APH AMPHENOL CORP NEW CLASS CLASS 5.9%

Value ($000) $82,819 (+5.9%) Shares 612,842 (-3.1%) Est. Cost $43.87 Unrealized +204.4%

— TRANE TECHNOLOGIES PLC F 2.6%

Value ($000) $36,796 (-10.1%) Shares 94,543 (-2.6%) Est. Cost $421.96 Unrealized —

USB US BANCORP DEL 3.6%

Value ($000) $51,081 (+6.4%) Shares 957,291 (-3.7%) Est. Cost $37.88 Unrealized +28.6%

— SPX TECHNOLOGIES INC 3.9%

Value ($000) $54,917 (+4.3%) Shares 274,503 (-2.7%) Est. Cost $186.78 Unrealized —

— S&P GLOBAL INC 3.0%

Value ($000) $41,764 (+4.7%) Shares 79,918 (-2.5%) Est. Cost $486.71 Unrealized —

— BOOKING HLDGS INC 2.3%

Value ($000) $32,168 (-3.8%) Shares 6,007 (-3.0%) Est. Cost $5398.87 Unrealized —

SCHW CHARLES SCHWAB CORP 4.1%

Value ($000) $57,244 (+1.8%) Shares 572,960 (-2.7%) Est. Cost $52.34 Unrealized +81.0%

— UNITEDHEALTH GROUP INC 0.3%

Value ($000) $4,234 (-15.6%) Shares 12,826 (-11.7%) Est. Cost $455.66 Unrealized —

PAYX PAYCHEX INC 0.3%

Value ($000) $3,995 (-13.9%) Shares 35,613 (-2.7%) Est. Cost $86.07 Unrealized +35.4%

— JOHNSON CONTROLS INT F 0.6%

Value ($000) $7,800 (+7.4%) Shares 65,138 (-1.4%) Est. Cost $54.12 Unrealized —

AXP AMERICAN EXPRESS CO 0.6%

Value ($000) $8,069 (+7.1%) Shares 21,811 (-3.8%) Est. Cost $133.29 Unrealized +167.8%

HUBB HUBBELL INC 3.4%

Value ($000) $48,102 (-1.1%) Shares 108,310 (-4.2%) Est. Cost $382.79 Unrealized +14.2%

— GOLDMAN SACHS GROUP INC 0.4%

Value ($000) $5,796 (+9.1%) Shares 6,594 (-1.2%) Est. Cost $550.50 Unrealized —

— VERIZON COMMUNICATIONS I 0.2%

Value ($000) $3,117 (-12.5%) Shares 76,537 (-5.6%) Est. Cost $33.42 Unrealized —

CR CRANE CO 1.2%

Value ($000) $17,214 (-2.0%) Shares 93,335 (-2.1%) Est. Cost $173.63 Unrealized +6.8%

— JPMORGAN CHASE & CO 0.8%

Value ($000) $10,722 (-2.7%) Shares 33,274 (-4.8%) Est. Cost $167.78 Unrealized —

— BROADCOM INC 1.0%

Value ($000) $13,966 (-1.2%) Shares 40,352 (-5.8%) Est. Cost $238.04 Unrealized —

GE GE AEROSPACE 4.2%

Value ($000) $59,006 (-0.2%) Shares 191,560 (-2.5%) Est. Cost $159.63 Unrealized +88.4%

MDLZ MONDELEZ INTL INC CLASS A 0.0%

Value ($000) $319 (-26.3%) Shares 5,923 (-14.4%) Est. Cost $48.53 Unrealized +17.6%

DOW DOW INC 0.0%

Value ($000) $561 (-16.1%) Shares 24,009 (-17.7%) Est. Cost $44.92 Unrealized -49.3%

— ZOETIS INC CLASS CLASS A 0.0%

Value ($000) $316 (-21.6%) Shares 2,508 (-8.8%) Est. Cost $164.65 Unrealized —

— ADOBE INC 0.0%

Value ($000) $267 (-22.3%) Shares 762 (-21.7%) Est. Cost $555.54 Unrealized —

GGG GRACO INC 0.0%

Value ($000) $209 (-24.5%) Shares 2,547 (-21.8%) Est. Cost $71.85 Unrealized +14.1%

BRK/B BERKSHIRE HATHAWAY CLASS B 0.0%

Value ($000) $615 (-7.1%) Shares 1,224 (-7.1%) Est. Cost $484.36 Unrealized +2.7%

INTC INTEL CORP 0.1%

Value ($000) $764 (-3.9%) Shares 20,696 (-12.7%) Est. Cost $39.18 Unrealized -3.6%

— SPDR GOLD SHARES ETF 0.0%

Value ($000) $332 (-6.2%) Shares 838 (-15.9%) Est. Cost $252.81 Unrealized —

— SALESFORCE INC 0.3%

Value ($000) $3,943 (-0.4%) Shares 14,886 (-10.9%) Est. Cost $268.36 Unrealized —

— MASTERCARD INC CLASS CLASS A 0.0%

Value ($000) $228 (-6.9%) Shares 400 (-7.2%) Est. Cost $568.81 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DHR	DANAHER CORP	2,263 (-98.1%)	$518 (-97.8%)	0.0%	$221.55	-0.9%	COM	235851102
—	AECOM	472,172 (-3.0%)	$45,012 (-29.1%)	3.2%	$130.47	—	COM	00766t100
—	SITEONE LANDSCAPE SUPPLY	126,212 (-48.3%)	$15,721 (-50.0%)	1.1%	$128.80	—	COM	82982l103
—	INTUITIVE SURGICAL INC	114,484 (-2.7%)	$64,839 (+23.2%)	4.6%	$447.23	—	COM	46120e602
—	UBER TECHNOLOGIES INC	637,915 (-2.7%)	$52,124 (-18.8%)	3.7%	$97.97	—	COM	90353t100
PANW	PALO ALTO NETWORKS INC	400,833 (-3.3%)	$73,833 (-12.5%)	5.3%	$131.96	+52.9%	COM	697435105
ANET	ARISTA NETWORKS INC	376,227 (-2.8%)	$49,297 (-12.6%)	3.5%	$96.18	+43.1%	COM	040413205
CDNS	CADENCE DESIGN SYS INC	129,137 (-2.5%)	$40,366 (-13.2%)	2.9%	$285.21	+14.4%	COM	127387108
—	LINDE PLC F	89,933 (-2.3%)	$38,346 (-12.3%)	2.7%	$475.00	—	COM	g54950103
APH	AMPHENOL CORP NEW CLASS CLASS	612,842 (-3.1%)	$82,819 (+5.9%)	5.9%	$43.87	+204.4%	COM	032095101
—	TRANE TECHNOLOGIES PLC F	94,543 (-2.6%)	$36,796 (-10.1%)	2.6%	$421.96	—	COM	g8994e103
USB	US BANCORP DEL	957,291 (-3.7%)	$51,081 (+6.4%)	3.6%	$37.88	+28.6%	COM	902973304
—	SPX TECHNOLOGIES INC	274,503 (-2.7%)	$54,917 (+4.3%)	3.9%	$186.78	—	COM	78473e103
—	S&P GLOBAL INC	79,918 (-2.5%)	$41,764 (+4.7%)	3.0%	$486.71	—	COM	78409v104
—	BOOKING HLDGS INC	6,007 (-3.0%)	$32,168 (-3.8%)	2.3%	$5398.87	—	COM	09857l108
SCHW	CHARLES SCHWAB CORP	572,960 (-2.7%)	$57,244 (+1.8%)	4.1%	$52.34	+81.0%	COM	808513105
—	UNITEDHEALTH GROUP INC	12,826 (-11.7%)	$4,234 (-15.6%)	0.3%	$455.66	—	COM	91324p102
PAYX	PAYCHEX INC	35,613 (-2.7%)	$3,995 (-13.9%)	0.3%	$86.07	+35.4%	COM	704326107
—	JOHNSON CONTROLS INT F	65,138 (-1.4%)	$7,800 (+7.4%)	0.6%	$54.12	—	COM	g51502105
AXP	AMERICAN EXPRESS CO	21,811 (-3.8%)	$8,069 (+7.1%)	0.6%	$133.29	+167.8%	COM	025816109
HUBB	HUBBELL INC	108,310 (-4.2%)	$48,102 (-1.1%)	3.4%	$382.79	+14.2%	COM	443510607
—	GOLDMAN SACHS GROUP INC	6,594 (-1.2%)	$5,796 (+9.1%)	0.4%	$550.50	—	COM	38141g104
—	VERIZON COMMUNICATIONS I	76,537 (-5.6%)	$3,117 (-12.5%)	0.2%	$33.42	—	COM	92343v104
CR	CRANE CO	93,335 (-2.1%)	$17,214 (-2.0%)	1.2%	$173.63	+6.8%	COM	224408104
—	JPMORGAN CHASE & CO	33,274 (-4.8%)	$10,722 (-2.7%)	0.8%	$167.78	—	COM	46625h100
—	BROADCOM INC	40,352 (-5.8%)	$13,966 (-1.2%)	1.0%	$238.04	—	COM	11135f101
GE	GE AEROSPACE	191,560 (-2.5%)	$59,006 (-0.2%)	4.2%	$159.63	+88.4%	COM	369604301
MDLZ	MONDELEZ INTL INC CLASS A	5,923 (-14.4%)	$319 (-26.3%)	0.0%	$48.53	+17.6%	COM	609207105
DOW	DOW INC	24,009 (-17.7%)	$561 (-16.1%)	0.0%	$44.92	-49.3%	COM	260557103
—	ZOETIS INC CLASS CLASS A	2,508 (-8.8%)	$316 (-21.6%)	0.0%	$164.65	—	COM	98978v103
—	ADOBE INC	762 (-21.7%)	$267 (-22.3%)	0.0%	$555.54	—	COM	00724f101
GGG	GRACO INC	2,547 (-21.8%)	$209 (-24.5%)	0.0%	$71.85	+14.1%	COM	384109104
BRK/B	BERKSHIRE HATHAWAY CLASS B	1,224 (-7.1%)	$615 (-7.1%)	0.0%	$484.36	+2.7%	COM	084670702
INTC	INTEL CORP	20,696 (-12.7%)	$764 (-3.9%)	0.1%	$39.18	-3.6%	COM	458140100
—	SPDR GOLD SHARES ETF	838 (-15.9%)	$332 (-6.2%)	0.0%	$252.81	—	COM	78463v107
—	SALESFORCE INC	14,886 (-10.9%)	$3,943 (-0.4%)	0.3%	$268.36	—	COM	79466l302
—	MASTERCARD INC CLASS CLASS A	400 (-7.2%)	$228 (-6.9%)	0.0%	$568.81	—	COM	57636q104

Unchanged Positions (41)

CAT CATERPILLAR INC 0.7%

Value ($000) $9,144 Shares 15,962 Est. Cost $155.29 Unrealized +257.7%

— MERCK & CO. INC. 0.4%

Value ($000) $5,031 Shares 47,793 Est. Cost $101.51 Unrealized —

HD HOME DEPOT INC 0.4%

Value ($000) $5,207 Shares 15,131 Est. Cost $221.53 Unrealized +64.6%

AAPL APPLE INC 1.0%

Value ($000) $13,391 Shares 49,255 Est. Cost $129.10 Unrealized +107.9%

MSFT MICROSOFT CORP 1.0%

Value ($000) $13,400 Shares 27,708 Est. Cost $237.28 Unrealized +111.0%

— BLACKROCK INC NEW 0.5%

Value ($000) $7,300 Shares 6,820 Est. Cost $949.51 Unrealized —

JNJ JOHNSON & JOHNSON 0.4%

Value ($000) $5,753 Shares 27,797 Est. Cost $133.61 Unrealized +47.5%

TXN TEXAS INSTRS INC 0.3%

Value ($000) $4,118 Shares 23,739 Est. Cost $154.85 Unrealized +10.3%

KO THE COCA-COLA CO 0.4%

Value ($000) $5,171 Shares 73,973 Est. Cost $50.36 Unrealized +37.8%

AMZN AMAZON.COM INC 0.3%

Value ($000) $4,650 Shares 20,147 Est. Cost $204.74 Unrealized +11.7%

— VISA INC CLASS CLASS A 0.3%

Value ($000) $4,882 Shares 13,920 Est. Cost $354.88 Unrealized —

SYY SYSCO CORP 0.1%

Value ($000) $1,184 Shares 16,074 Est. Cost $64.75 Unrealized +16.6%

CVX CHEVRON CORP NEW 0.4%

Value ($000) $5,268 Shares 34,565 Est. Cost $109.59 Unrealized +38.1%

— EDWARDS LIFESCIENCES COR 0.1%

Value ($000) $1,413 Shares 16,572 Est. Cost $69.53 Unrealized —

— ZIMMER BIOMET HLDGS INC 0.1%

Value ($000) $1,261 Shares 14,021 Est. Cost $131.98 Unrealized —

QCOM QUALCOMM INC 0.4%

Value ($000) $5,313 Shares 31,061 Est. Cost $124.41 Unrealized +37.3%

LH LABCORP HLDGS INC 0.0%

Value ($000) $602 Shares 2,400 Est. Cost $199.50 Unrealized +32.9%

MCD MCDONALDS CORP 0.4%

Value ($000) $5,404 Shares 17,681 Est. Cost $193.67 Unrealized +57.5%

LVMUY LVMH MOET HENNESSY LOU F SPONS 0.0%

Value ($000) $356 Shares 2,359 Est. Cost $156.82 Unrealized —

URI UNITED RENTALS INC 0.0%

Value ($000) $366 Shares 452 Est. Cost $405.89 Unrealized +113.6%

— VANECK BITCOIN ETF 0.0%

Value ($000) $208 Shares 8,416 Est. Cost $30.57 Unrealized —

ADP AUTOMATIC DATA PROCESSIN 0.0%

Value ($000) $437 Shares 1,699 Est. Cost $203.77 Unrealized +30.0%

— IDEX CORP 0.0%

Value ($000) $517 Shares 2,907 Est. Cost $208.02 Unrealized —

— 3M CO 0.1%

Value ($000) $1,367 Shares 8,536 Est. Cost $95.58 Unrealized —

— CME GROUP INC CLASS CLASS A 0.4%

Value ($000) $6,009 Shares 22,004 Est. Cost $270.19 Unrealized —

HON HONEYWELL INTL INC 0.0%

Value ($000) $447 Shares 2,290 Est. Cost $185.78 Unrealized +5.0%

PH PARKER-HANNIFIN CORP 0.0%

Value ($000) $252 Shares 287 Est. Cost $628.26 Unrealized +30.2%

LSBK LAKE SHORE BANCORP INC M 0.0%

Value ($000) $293 Shares 20,000 Est. Cost $12.57 Unrealized +11.5%

— TENCENT HLDGS LTD F UNSPONSORE 0.0%

Value ($000) $279 Shares 3,646 Est. Cost $55.40 Unrealized —

— EXTRA SPACE STORAGE INC REIT 0.0%

Value ($000) $337 Shares 2,588 Est. Cost $121.58 Unrealized —

— BROADSTONE NET LEASE INC REIT 0.1%

Value ($000) $795 Shares 45,769 Est. Cost $14.30 Unrealized —

— GAIN THERAPEUTICS INC 0.0%

Value ($000) $50 Shares 15,400 Est. Cost $1.78 Unrealized —

LHX L3HARRIS TECHNOLOGIES IN 0.0%

Value ($000) $528 Shares 1,800 Est. Cost $161.77 Unrealized +78.3%

IJH ISHARES CORE S&P MID CAP ETF 0.0%

Value ($000) $544 Shares 8,235 Est. Cost $92.92 Unrealized —

INTU INTUIT 0.0%

Value ($000) $329 Shares 497 Est. Cost $403.22 Unrealized +63.9%

VB VANGUARD SMALL CAP ETF 0.0%

Value ($000) $674 Shares 2,612 Est. Cost $221.76 Unrealized —

— WASTE MGMT INC DEL 0.4%

Value ($000) $6,059 Shares 27,575 Est. Cost $153.82 Unrealized —

— M&T BK CORP 0.0%

Value ($000) $477 Shares 2,365 Est. Cost $132.89 Unrealized —

— VANGUARD LONG-TERM CORPORATE B 0.0%

Value ($000) $314 Shares 4,143 Est. Cost $75.91 Unrealized —

CL COLGATE PALMOLIVE CO 0.0%

Value ($000) $632 Shares 8,000 Est. Cost $61.94 Unrealized +26.4%

DIS DISNEY WALT CO 0.0%

Value ($000) $267 Shares 2,343 Est. Cost $140.97 Unrealized -22.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CAT	CATERPILLAR INC	15,962	$9,144	0.7%	$155.29	+257.7%	COM	149123101
—	MERCK & CO. INC.	47,793	$5,031	0.4%	$101.51	—	COM	58933y105
HD	HOME DEPOT INC	15,131	$5,207	0.4%	$221.53	+64.6%	COM	437076102
AAPL	APPLE INC	49,255	$13,391	1.0%	$129.10	+107.9%	COM	037833100
MSFT	MICROSOFT CORP	27,708	$13,400	1.0%	$237.28	+111.0%	COM	594918104
—	BLACKROCK INC NEW	6,820	$7,300	0.5%	$949.51	—	COM	09290d101
JNJ	JOHNSON & JOHNSON	27,797	$5,753	0.4%	$133.61	+47.5%	COM	478160104
TXN	TEXAS INSTRS INC	23,739	$4,118	0.3%	$154.85	+10.3%	COM	882508104
KO	THE COCA-COLA CO	73,973	$5,171	0.4%	$50.36	+37.8%	COM	191216100
AMZN	AMAZON.COM INC	20,147	$4,650	0.3%	$204.74	+11.7%	COM	023135106
—	VISA INC CLASS CLASS A	13,920	$4,882	0.3%	$354.88	—	COM	92826c839
SYY	SYSCO CORP	16,074	$1,184	0.1%	$64.75	+16.6%	COM	871829107
CVX	CHEVRON CORP NEW	34,565	$5,268	0.4%	$109.59	+38.1%	COM	166764100
—	EDWARDS LIFESCIENCES COR	16,572	$1,413	0.1%	$69.53	—	COM	28176e108
—	ZIMMER BIOMET HLDGS INC	14,021	$1,261	0.1%	$131.98	—	COM	98956p102
QCOM	QUALCOMM INC	31,061	$5,313	0.4%	$124.41	+37.3%	COM	747525103
LH	LABCORP HLDGS INC	2,400	$602	0.0%	$199.50	+32.9%	COM	504922105
MCD	MCDONALDS CORP	17,681	$5,404	0.4%	$193.67	+57.5%	COM	580135101
LVMUY	LVMH MOET HENNESSY LOU F SPONS	2,359	$356	0.0%	$156.82	—	COM	502441306
URI	UNITED RENTALS INC	452	$366	0.0%	$405.89	+113.6%	COM	911363109
—	VANECK BITCOIN ETF	8,416	$208	0.0%	$30.57	—	COM	92189k105
ADP	AUTOMATIC DATA PROCESSIN	1,699	$437	0.0%	$203.77	+30.0%	COM	053015103
—	IDEX CORP	2,907	$517	0.0%	$208.02	—	COM	45167r104
—	3M CO	8,536	$1,367	0.1%	$95.58	—	COM	88579y101
—	CME GROUP INC CLASS CLASS A	22,004	$6,009	0.4%	$270.19	—	COM	12572q105
HON	HONEYWELL INTL INC	2,290	$447	0.0%	$185.78	+5.0%	COM	438516106
PH	PARKER-HANNIFIN CORP	287	$252	0.0%	$628.26	+30.2%	COM	701094104
LSBK	LAKE SHORE BANCORP INC M	20,000	$293	0.0%	$12.57	+11.5%	COM	510704109
—	TENCENT HLDGS LTD F UNSPONSORE	3,646	$279	0.0%	$55.40	—	ADR	88032q109
—	EXTRA SPACE STORAGE INC REIT	2,588	$337	0.0%	$121.58	—	COM	30225t102
—	BROADSTONE NET LEASE INC REIT	45,769	$795	0.1%	$14.30	—	COM	11135e203
—	GAIN THERAPEUTICS INC	15,400	$50	0.0%	$1.78	—	COM	36269b105
LHX	L3HARRIS TECHNOLOGIES IN	1,800	$528	0.0%	$161.77	+78.3%	COM	502431109
IJH	ISHARES CORE S&P MID CAP ETF	8,235	$544	0.0%	$92.92	—	COM	464287507
INTU	INTUIT	497	$329	0.0%	$403.22	+63.9%	COM	461202103
VB	VANGUARD SMALL CAP ETF	2,612	$674	0.0%	$221.76	—	COM	922908751
—	WASTE MGMT INC DEL	27,575	$6,059	0.4%	$153.82	—	COM	94106l109
—	M&T BK CORP	2,365	$477	0.0%	$132.89	—	COM	55261f104
—	VANGUARD LONG-TERM CORPORATE B	4,143	$314	0.0%	$75.91	—	COM	92206c813
CL	COLGATE PALMOLIVE CO	8,000	$632	0.0%	$61.94	+26.4%	COM	194162103
DIS	DISNEY WALT CO	2,343	$267	0.0%	$140.97	-22.3%	COM	254687106