New England Research & Management, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	39,509	$12,366	5.4%	$285.60	0.0%	CAP STK CL A	02079K305
PWR	QUANTA SVCS INC	12,518	$5,283	2.3%	$439.27	0.0%	COM	74762E102
ABBV	ABBVIE INC	21,581	$4,931	2.2%	$227.54	0.0%	COM	00287Y109
V	VISA INC	9,329	$3,272	1.4%	$340.38	0.0%	COM CL A	92826C839
GOOG	ALPHABET INC	10,113	$3,173	1.4%	$286.33	0.0%	CAP STK CL C	02079K107
MRK	MERCK & CO INC	29,238	$3,078	1.3%	$93.24	0.0%	COM	58933Y105
META	META PLATFORMS INC	4,363	$2,880	1.3%	$667.32	0.0%	CL A	30303M102
ETN	EATON CORP PLC	8,614	$2,744	1.2%	$354.39	0.0%	SHS	G29183103
NFLX	NETFLIX INC	27,905	$2,616	1.1%	$107.81	0.0%	COM	64110L106
ZTS	ZOETIS INC	20,047	$2,522	1.1%	$130.26	0.0%	CL A	98978V103
NEE	NEXTERA ENERGY INC	27,381	$2,198	1.0%	$82.50	0.0%	COM	65339F101
TFC	TRUIST FINL CORP	43,842	$2,157	0.9%	$45.80	0.0%	COM	89832Q109
CB	CHUBB LIMITED	6,075	$1,896	0.8%	$292.40	0.0%	COM	H1467J104
DELL	DELL TECHNOLOGIES INC	14,236	$1,792	0.8%	$140.75	0.0%	CL C	24703L202
INCY	INCYTE CORP	17,400	$1,719	0.8%	$96.76	0.0%	COM	45337C102
SYK	STRYKER CORPORATION	4,300	$1,511	0.7%	$363.46	0.0%	COM	863667101
J	JACOBS SOLUTIONS INC	11,268	$1,493	0.7%	$146.41	0.0%	COM	46982L108
GILD	GILEAD SCIENCES INC	11,700	$1,436	0.6%	$120.88	0.0%	COM	375558103
CP	CANADIAN PACIFIC KANSAS CITY	17,680	$1,302	0.6%	$73.60	0.0%	COM	13646K108
WM	WASTE MGMT INC DEL	5,910	$1,298	0.6%	$212.55	0.0%	COM	94106L109
EQT	EQT CORP	22,955	$1,230	0.5%	$56.13	0.0%	COM	26884L109
INVH	INVITATION HOMES INC	43,475	$1,208	0.5%	$27.64	0.0%	COM	46187W107
BLK	BLACKROCK INC	1,125	$1,204	0.5%	$1089.41	0.0%	COM	09290D101
IQV	IQVIA HLDGS INC	5,080	$1,145	0.5%	$217.58	0.0%	COM	46266C105
CRH	CRH PLC	8,892	$1,110	0.5%	$119.13	0.0%	ORD	G25508105
EOG	EOG RES INC	10,475	$1,100	0.5%	$107.22	0.0%	COM	26875P101
PODD	INSULET CORP	3,600	$1,023	0.4%	$312.66	0.0%	COM	45784P101
MA	MASTERCARD INCORPORATED	1,705	$973	0.4%	$558.95	0.0%	CL A	57636Q104
ROP	ROPER TECHNOLOGIES INC	2,105	$937	0.4%	$462.16	0.0%	COM	776696106
MRVL	MARVELL TECHNOLOGY INC	11,000	$935	0.4%	$87.46	0.0%	COM	573874104
IDXX	IDEXX LABS INC	1,200	$812	0.4%	$681.02	0.0%	COM	45168D104
CAT	CATERPILLAR INC	1,331	$762	0.3%	$555.50	0.0%	COM	149123101
RCL	ROYAL CARIBBEAN GROUP	2,725	$760	0.3%	$281.58	0.0%	COM	V7780T103
CWEN	CLEARWAY ENERGY INC	22,500	$748	0.3%	$33.01	0.0%	CL C	18539C204
SU	SUNCOR ENERGY INC NEW	13,730	$609	0.3%	$42.26	0.0%	COM	867224107
IBP	INSTALLED BLDG PRODS INC	2,325	$603	0.3%	$258.27	0.0%	COM	45780R101
EME	EMCOR GROUP INC	978	$598	0.3%	$647.50	0.0%	COM	29084Q100
HOOD	ROBINHOOD MKTS INC	5,050	$571	0.2%	$130.05	0.0%	COM CL A	770700102
MHK	MOHAWK INDS INC	5,175	$566	0.2%	$114.84	0.0%	COM	608190104
MDT	MEDTRONIC PLC	5,813	$558	0.2%	$97.14	0.0%	SHS	G5960L103
FTNT	FORTINET INC	6,595	$524	0.2%	$82.94	0.0%	COM	34959E109
SHW	SHERWIN WILLIAMS CO	1,575	$510	0.2%	$334.11	0.0%	COM	824348106
AES	AES CORP	32,540	$467	0.2%	$14.03	0.0%	COM	00130H105
MOD	MODINE MFG CO	3,450	$461	0.2%	$148.95	0.0%	COM	607828100
CARR	CARRIER GLOBAL CORPORATION	8,275	$437	0.2%	$55.53	0.0%	COM	14448C104
EXE	EXPAND ENERGY CORPORATION	3,875	$428	0.2%	$110.64	0.0%	COM	165167735
MC	MOELIS & CO	6,000	$412	0.2%	$65.79	0.0%	CL A	60786M105
CNQ	CANADIAN NAT RES LTD	12,100	$410	0.2%	$32.42	0.0%	COM	136385101
REGN	REGENERON PHARMACEUTICALS	500	$386	0.2%	$678.68	0.0%	COM	75886F107
LEU	CENTRUS ENERGY CORP	1,570	$381	0.2%	$301.96	0.0%	CL A	15643U104
QSR	RESTAURANT BRANDS INTL INC	5,549	$379	0.2%	$68.91	0.0%	COM	76131D103
XYL	XYLEM INC	2,744	$374	0.2%	$143.58	0.0%	COM	98419M100
NTR	NUTRIEN LTD	5,050	$312	0.1%	$58.85	0.0%	COM	67077M108
FSLR	FIRST SOLAR INC	1,050	$274	0.1%	$252.20	0.0%	COM	336433107
CRWD	CROWDSTRIKE HLDGS INC	575	$270	0.1%	$509.22	0.0%	CL A	22788C105
RBC	RBC BEARINGS INC	575	$258	0.1%	$423.49	0.0%	COM	75524B104
FAF	FIRST AMERN FINL CORP	4,050	$249	0.1%	$62.32	0.0%	COM	31847R102
BCS	BARCLAYS PLC	9,050	$230	0.1%	$25.45	—	ADR	06738E204
WMS	ADVANCED DRAIN SYS INC DEL	1,550	$224	0.1%	$144.68	0.0%	COM	00790R104
KEY	KEYCORP	10,400	$215	0.1%	$18.49	0.0%	COM	493267108
CME	CME GROUP INC	735	$201	0.1%	$270.74	0.0%	COM	12572Q105
LTH	LIFE TIME GROUP HOLDINGS INC	7,550	$201	0.1%	$26.03	0.0%	COMMON STOCK	53190C102
COMP	COMPASS INC	10,030	$106	0.0%	$9.12	0.0%	CL A	20464U100

Increased Positions (24)

GS GOLDMAN SACHS GROUP INC 1.6%

Value ($000) $3,737 (+212.6%) Shares 4,251 (+183.2%) Est. Cost $705.41 Unrealized +15.3%

COF CAPITAL ONE FINL CORP 1.6%

Value ($000) $3,624 (+146.2%) Shares 14,952 (+115.9%) Est. Cost $220.16 Unrealized +0.9%

GEV GE VERNOVA INC 1.9%

Value ($000) $4,384 (+82.3%) Shares 6,708 (+71.6%) Est. Cost $579.16 Unrealized +5.2%

ABT ABBOTT LABS 1.3%

Value ($000) $2,954 (+113.4%) Shares 23,574 (+128.1%) Est. Cost $104.32 Unrealized +22.0%

VEEV VEEVA SYS INC 0.8%

Value ($000) $1,878 (+180.2%) Shares 8,415 (+274.0%) Est. Cost $269.65 Unrealized -1.6%

KMB KIMBERLY-CLARK CORP 1.0%

Value ($000) $2,252 (+82.1%) Shares 22,324 (+124.4%) Est. Cost $100.87 Unrealized +7.5%

MCD MCDONALDS CORP 1.0%

Value ($000) $2,387 (+52.2%) Shares 7,809 (+51.4%) Est. Cost $229.94 Unrealized +32.7%

COST COSTCO WHSL CORP NEW 0.5%

Value ($000) $1,048 (+327.1%) Shares 1,215 (+358.5%) Est. Cost $916.85 Unrealized -1.2%

AWK AMERICAN WTR WKS CO INC NEW 1.2%

Value ($000) $2,675 (+40.0%) Shares 20,500 (+49.4%) Est. Cost $138.51 Unrealized -3.8%

AMGN AMGEN INC 0.9%

Value ($000) $2,126 (+51.6%) Shares 6,495 (+30.7%) Est. Cost $280.68 Unrealized +12.6%

MSFT MICROSOFT CORP 3.2%

Value ($000) $7,233 (+10.6%) Shares 14,955 (+18.4%) Est. Cost $171.00 Unrealized +192.7%

PG PROCTER AND GAMBLE CO 0.8%

Value ($000) $1,920 (+49.7%) Shares 13,395 (+60.5%) Est. Cost $105.29 Unrealized +39.8%

UBER UBER TECHNOLOGIES INC 1.4%

Value ($000) $3,130 (+22.8%) Shares 38,309 (+47.3%) Est. Cost $79.88 Unrealized +12.7%

AVGO BROADCOM INC 1.6%

Value ($000) $3,722 (+17.1%) Shares 10,755 (+11.6%) Est. Cost $175.88 Unrealized +103.0%

WFC WELLS FARGO CO NEW 0.7%

Value ($000) $1,687 (+39.3%) Shares 18,105 (+25.3%) Est. Cost $81.71 Unrealized +6.0%

PB PROSPERITY BANCSHARES INC 0.6%

Value ($000) $1,287 (+56.4%) Shares 18,625 (+50.2%) Est. Cost $68.36 Unrealized -2.0%

NVDA NVIDIA CORPORATION 0.7%

Value ($000) $1,641 (+21.7%) Shares 8,801 (+21.8%) Est. Cost $132.41 Unrealized +40.6%

URI UNITED RENTALS INC 3.1%

Value ($000) $7,135 (-3.9%) Shares 8,816 (+13.4%) Est. Cost $426.25 Unrealized +103.4%

UNP UNION PAC CORP 0.8%

Value ($000) $1,755 (+16.7%) Shares 7,588 (+19.3%) Est. Cost $184.77 Unrealized +23.0%

PFE PFIZER INC 0.6%

Value ($000) $1,389 (+17.9%) Shares 55,773 (+20.7%) Est. Cost $25.13 Unrealized -0.4%

CFG CITIZENS FINL GROUP INC 0.6%

Value ($000) $1,354 (+15.1%) Shares 23,187 (+4.7%) Est. Cost $43.05 Unrealized +24.5%

EL LAUDER ESTEE COS INC 0.2%

Value ($000) $396 (+70.8%) Shares 3,780 (+43.7%) Est. Cost $73.74 Unrealized +31.3%

PANW PALO ALTO NETWORKS INC 1.0%

Value ($000) $2,331 (+5.3%) Shares 12,654 (+16.4%) Est. Cost $188.38 Unrealized +7.1%

DHR DANAHER CORPORATION 0.2%

Value ($000) $480 (+19.8%) Shares 2,095 (+3.7%) Est. Cost $199.13 Unrealized +10.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GS	GOLDMAN SACHS GROUP INC	4,251 (+183.2%)	$3,737 (+212.6%)	1.6%	$705.41	+15.3%	COM	38141G104
COF	CAPITAL ONE FINL CORP	14,952 (+115.9%)	$3,624 (+146.2%)	1.6%	$220.16	+0.9%	COM	14040H105
GEV	GE VERNOVA INC	6,708 (+71.6%)	$4,384 (+82.3%)	1.9%	$579.16	+5.2%	COM	36828A101
ABT	ABBOTT LABS	23,574 (+128.1%)	$2,954 (+113.4%)	1.3%	$104.32	+22.0%	COM	002824100
VEEV	VEEVA SYS INC	8,415 (+274.0%)	$1,878 (+180.2%)	0.8%	$269.65	-1.6%	CL A COM	922475108
KMB	KIMBERLY-CLARK CORP	22,324 (+124.4%)	$2,252 (+82.1%)	1.0%	$100.87	+7.5%	COM	494368103
MCD	MCDONALDS CORP	7,809 (+51.4%)	$2,387 (+52.2%)	1.0%	$229.94	+32.7%	COM	580135101
COST	COSTCO WHSL CORP NEW	1,215 (+358.5%)	$1,048 (+327.1%)	0.5%	$916.85	-1.2%	COM	22160K105
AWK	AMERICAN WTR WKS CO INC NEW	20,500 (+49.4%)	$2,675 (+40.0%)	1.2%	$138.51	-3.8%	COM	030420103
AMGN	AMGEN INC	6,495 (+30.7%)	$2,126 (+51.6%)	0.9%	$280.68	+12.6%	COM	031162100
MSFT	MICROSOFT CORP	14,955 (+18.4%)	$7,233 (+10.6%)	3.2%	$171.00	+192.7%	COM	594918104
PG	PROCTER AND GAMBLE CO	13,395 (+60.5%)	$1,920 (+49.7%)	0.8%	$105.29	+39.8%	COM	742718109
UBER	UBER TECHNOLOGIES INC	38,309 (+47.3%)	$3,130 (+22.8%)	1.4%	$79.88	+12.7%	COM	90353T100
AVGO	BROADCOM INC	10,755 (+11.6%)	$3,722 (+17.1%)	1.6%	$175.88	+103.0%	COM	11135F101
WFC	WELLS FARGO CO NEW	18,105 (+25.3%)	$1,687 (+39.3%)	0.7%	$81.71	+6.0%	COM	949746101
PB	PROSPERITY BANCSHARES INC	18,625 (+50.2%)	$1,287 (+56.4%)	0.6%	$68.36	-2.0%	COM	743606105
NVDA	NVIDIA CORPORATION	8,801 (+21.8%)	$1,641 (+21.7%)	0.7%	$132.41	+40.6%	COM	67066G104
URI	UNITED RENTALS INC	8,816 (+13.4%)	$7,135 (-3.9%)	3.1%	$426.25	+103.4%	COM	911363109
UNP	UNION PAC CORP	7,588 (+19.3%)	$1,755 (+16.7%)	0.8%	$184.77	+23.0%	COM	907818108
PFE	PFIZER INC	55,773 (+20.7%)	$1,389 (+17.9%)	0.6%	$25.13	-0.4%	COM	717081103
CFG	CITIZENS FINL GROUP INC	23,187 (+4.7%)	$1,354 (+15.1%)	0.6%	$43.05	+24.5%	COM	174610105
EL	LAUDER ESTEE COS INC	3,780 (+43.7%)	$396 (+70.8%)	0.2%	$73.74	+31.3%	CL A	518439104
PANW	PALO ALTO NETWORKS INC	12,654 (+16.4%)	$2,331 (+5.3%)	1.0%	$188.38	+7.1%	COM	697435105
DHR	DANAHER CORPORATION	2,095 (+3.7%)	$480 (+19.8%)	0.2%	$199.13	+10.3%	COM	235851102

Exited Positions (65)

— Alphabet Inc Class A 4.2%

Value ($000) $9,692 Shares 39,868 Est. Cost $80.40 Unrealized —

— Quanta Services 2.3%

Value ($000) $5,351 Shares 12,911 Est. Cost $47.49 Unrealized —

— AbbVie Inc. 2.0%

Value ($000) $4,585 Shares 19,801 Est. Cost $23.34 Unrealized —

— Meta Platforms Inc. 1.6%

Value ($000) $3,771 Shares 5,135 Est. Cost $44.14 Unrealized —

— Eaton 1.5%

Value ($000) $3,534 Shares 9,444 Est. Cost $95.35 Unrealized —

— Zoetis Inc 1.5%

Value ($000) $3,455 Shares 23,610 Est. Cost $36.04 Unrealized —

— Carrier Global 1.3%

Value ($000) $2,958 Shares 49,550 Est. Cost $10.57 Unrealized —

— Dell Inc. 1.1%

Value ($000) $2,564 Shares 18,086 Est. Cost $0.11 Unrealized —

— Alphabet Inc Class C 1.1%

Value ($000) $2,526 Shares 10,371 Est. Cost $124.96 Unrealized —

— NextEra Energy Inc. 0.9%

Value ($000) $2,080 Shares 27,556 Est. Cost $3.60 Unrealized —

— Truist Financial Corp 0.9%

Value ($000) $2,022 Shares 44,225 Est. Cost $53.81 Unrealized —

— Netflix 0.9%

Value ($000) $1,991 Shares 1,661 Est. Cost $217.19 Unrealized —

— Apollo Global Management 0.8%

Value ($000) $1,906 Shares 14,300 Est. Cost $39.24 Unrealized —

— Visa 0.8%

Value ($000) $1,845 Shares 5,404 Est. Cost $66.55 Unrealized —

— Merck 0.8%

Value ($000) $1,813 Shares 21,596 Est. Cost $42.09 Unrealized —

LULU Lululemon Athletica 0.8%

Value ($000) $1,770 Shares 9,950 Est. Cost $200.38 Unrealized -9.6%

— Chubb 0.8%

Value ($000) $1,715 Shares 6,075 Est. Cost $83.51 Unrealized —

— Invitation Homes Inc. 0.7%

Value ($000) $1,602 Shares 54,614 Est. Cost $18.64 Unrealized —

HD Home Depot 0.7%

Value ($000) $1,587 Shares 3,916 Est. Cost $381.15 Unrealized -4.3%

ABNB Airbnb, Inc. 0.7%

Value ($000) $1,506 Shares 12,400 Est. Cost $127.84 Unrealized -2.6%

ARW Arrow Electronics 0.6%

Value ($000) $1,458 Shares 12,050 Est. Cost $125.79 Unrealized -9.7%

— Canadian Pacific Kansas City L 0.6%

Value ($000) $1,397 Shares 18,755 Est. Cost $0.08 Unrealized —

— Otis Worldwide 0.6%

Value ($000) $1,333 Shares 14,575 Est. Cost $91.43 Unrealized —

— Waste Management Inc. 0.6%

Value ($000) $1,322 Shares 5,985 Est. Cost $71.06 Unrealized —

— Agilent 0.5%

Value ($000) $1,125 Shares 8,764 Est. Cost $0.12 Unrealized —

— RBC Bearings 0.5%

Value ($000) $1,093 Shares 2,800 Est. Cost $390.29 Unrealized —

NTRA Natera, Inc. 0.4%

Value ($000) $1,002 Shares 6,225 Est. Cost $157.61 Unrealized +32.3%

TKR Timken 0.4%

Value ($000) $996 Shares 13,250 Est. Cost $75.73 Unrealized +5.0%

— Linde PLC 0.4%

Value ($000) $979 Shares 2,060 Est. Cost $0.47 Unrealized —

— Mastercard Inc 0.4%

Value ($000) $970 Shares 1,705 Est. Cost $0.51 Unrealized —

— Pentair 0.4%

Value ($000) $892 Shares 8,050 Est. Cost $0.09 Unrealized —

BSX Boston Scientific 0.4%

Value ($000) $891 Shares 9,128 Est. Cost $101.18 Unrealized -3.1%

— Diamondback Energy Inc 0.3%

Value ($000) $719 Shares 5,025 Est. Cost $143.10 Unrealized —

— Centrus Energy Corp 0.3%

Value ($000) $690 Shares 2,225 Est. Cost $310.07 Unrealized —

— Fortinet 0.3%

Value ($000) $690 Shares 8,205 Est. Cost $0.11 Unrealized —

— Clearway Energy 0.3%

Value ($000) $650 Shares 23,000 Est. Cost $28.25 Unrealized —

FCX Freeport McMoran 0.3%

Value ($000) $620 Shares 15,800 Est. Cost $43.20 Unrealized +0.3%

— CRH Plc. 0.3%

Value ($000) $614 Shares 5,125 Est. Cost $119.90 Unrealized —

— Installed Building Products In 0.3%

Value ($000) $610 Shares 2,475 Est. Cost $54.90 Unrealized —

— American Tower Corp 0.3%

Value ($000) $606 Shares 3,150 Est. Cost $0.22 Unrealized —

VRTX Vertex Pharmaceuticals 0.3%

Value ($000) $601 Shares 1,535 Est. Cost $447.55 Unrealized -3.7%

— Medtronic PLC 0.3%

Value ($000) $580 Shares 6,088 Est. Cost $67.41 Unrealized —

TRMB Trimble Inc 0.2%

Value ($000) $534 Shares 6,544 Est. Cost $71.89 Unrealized +10.8%

APD Air Prod.& Chem. 0.2%

Value ($000) $484 Shares 1,775 Est. Cost $268.13 Unrealized -6.1%

— Xylem Inc 0.2%

Value ($000) $405 Shares 2,744 Est. Cost $79.82 Unrealized —

TTWO Take Two Interactive Software 0.2%

Value ($000) $400 Shares 1,550 Est. Cost $236.70 Unrealized +5.3%

HEI Heico Corp 0.2%

Value ($000) $395 Shares 1,225 Est. Cost $318.25 Unrealized -0.7%

— Moelis & Co 0.2%

Value ($000) $387 Shares 5,425 Est. Cost $0.07 Unrealized —

COIN Coinbase Global, Inc. 0.2%

Value ($000) $380 Shares 1,125 Est. Cost $339.07 Unrealized -12.1%

— APA Corporation 0.2%

Value ($000) $379 Shares 15,626 Est. Cost $24.28 Unrealized —

— Interactive Brokers Group 0.2%

Value ($000) $378 Shares 5,500 Est. Cost $68.81 Unrealized —

— Celsius Holdings 0.2%

Value ($000) $371 Shares 6,450 Est. Cost $57.49 Unrealized —

— Restaurant Brands Int'l 0.2%

Value ($000) $356 Shares 5,549 Est. Cost $10.55 Unrealized —

AMD Advanced Micro Devices 0.2%

Value ($000) $352 Shares 2,175 Est. Cost $161.38 Unrealized +39.2%

— EOG Resources 0.1%

Value ($000) $339 Shares 3,025 Est. Cost $112.12 Unrealized —

— CME Group 0.1%

Value ($000) $338 Shares 1,250 Est. Cost $5.67 Unrealized —

— Kellanova 0.1%

Value ($000) $271 Shares 3,310 Est. Cost $68.41 Unrealized +20.8%

— First American Financial 0.1%

Value ($000) $260 Shares 4,050 Est. Cost $64.24 Unrealized —

CNI Canadian Natl Rail 0.1%

Value ($000) $245 Shares 2,600 Est. Cost $109.08 Unrealized -11.9%

— Blackstone Inc 0.1%

Value ($000) $228 Shares 1,335 Est. Cost $170.85 Unrealized —

VMI Valmont Industries 0.1%

Value ($000) $223 Shares 575 Est. Cost $363.72 Unrealized +11.9%

DDOG Datadog, Inc. 0.1%

Value ($000) $221 Shares 1,550 Est. Cost $126.18 Unrealized +25.2%

LNT Alliant Energy 0.1%

Value ($000) $206 Shares 3,050 Est. Cost $60.10 Unrealized +11.2%

MET MetLife 0.1%

Value ($000) $204 Shares 2,475 Est. Cost $77.91 Unrealized +1.3%

— Compass, Inc 0.0%

Value ($000) $81 Shares 10,030 Est. Cost $0.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Alphabet Inc Class A	39,868	$9,692	4.2%	$80.40	—	—	02079k305
—	Quanta Services	12,911	$5,351	2.3%	$47.49	—	—	74762e102
—	AbbVie Inc.	19,801	$4,585	2.0%	$23.34	—	—	00287y109
—	Meta Platforms Inc.	5,135	$3,771	1.6%	$44.14	—	—	30303m102
—	Eaton	9,444	$3,534	1.5%	$95.35	—	—	g29183103
—	Zoetis Inc	23,610	$3,455	1.5%	$36.04	—	—	98978v103
—	Carrier Global	49,550	$2,958	1.3%	$10.57	—	—	14448c104
—	Dell Inc.	18,086	$2,564	1.1%	$0.11	—	—	24702R101
—	Alphabet Inc Class C	10,371	$2,526	1.1%	$124.96	—	—	02079k107
—	NextEra Energy Inc.	27,556	$2,080	0.9%	$3.60	—	—	65339f101
—	Truist Financial Corp	44,225	$2,022	0.9%	$53.81	—	—	89832q109
—	Netflix	1,661	$1,991	0.9%	$217.19	—	—	64110l106
—	Apollo Global Management	14,300	$1,906	0.8%	$39.24	—	—	03769m106
—	Visa	5,404	$1,845	0.8%	$66.55	—	—	92826c839
—	Merck	21,596	$1,813	0.8%	$42.09	—	—	58933y105
LULU	Lululemon Athletica	9,950	$1,770	0.8%	$200.38	-9.6%	—	550021109
—	Chubb	6,075	$1,715	0.8%	$83.51	—	—	h1467j104
—	Invitation Homes Inc.	54,614	$1,602	0.7%	$18.64	—	—	46187w107
HD	Home Depot	3,916	$1,587	0.7%	$381.15	-4.3%	—	437076102
ABNB	Airbnb, Inc.	12,400	$1,506	0.7%	$127.84	-2.6%	—	009066101
ARW	Arrow Electronics	12,050	$1,458	0.6%	$125.79	-9.7%	—	042735100
—	Canadian Pacific Kansas City L	18,755	$1,397	0.6%	$0.08	—	—	13646k108
—	Otis Worldwide	14,575	$1,333	0.6%	$91.43	—	—	68902v107
—	Waste Management Inc.	5,985	$1,322	0.6%	$71.06	—	—	94106l109
—	Agilent	8,764	$1,125	0.5%	$0.12	—	—	00846u101
—	RBC Bearings	2,800	$1,093	0.5%	$390.29	—	—	75524b104
NTRA	Natera, Inc.	6,225	$1,002	0.4%	$157.61	+32.3%	—	632307104
TKR	Timken	13,250	$996	0.4%	$75.73	+5.0%	—	887389104
—	Linde PLC	2,060	$979	0.4%	$0.47	—	—	g54950103
—	Mastercard Inc	1,705	$970	0.4%	$0.51	—	—	57636q104
—	Pentair	8,050	$892	0.4%	$0.09	—	—	g7s00t104
BSX	Boston Scientific	9,128	$891	0.4%	$101.18	-3.1%	—	101137107
—	Diamondback Energy Inc	5,025	$719	0.3%	$143.10	—	—	25278x109
—	Centrus Energy Corp	2,225	$690	0.3%	$310.07	—	—	15643u104
—	Fortinet	8,205	$690	0.3%	$0.11	—	—	34959e109
—	Clearway Energy	23,000	$650	0.3%	$28.25	—	—	18539c204
FCX	Freeport McMoran	15,800	$620	0.3%	$43.20	+0.3%	—	35671D857
—	CRH Plc.	5,125	$614	0.3%	$119.90	—	—	12626k203
—	Installed Building Products In	2,475	$610	0.3%	$54.90	—	—	45780r101
—	American Tower Corp	3,150	$606	0.3%	$0.22	—	—	03027x100
VRTX	Vertex Pharmaceuticals	1,535	$601	0.3%	$447.55	-3.7%	—	92532F100
—	Medtronic PLC	6,088	$580	0.3%	$67.41	—	—	g5960l103
TRMB	Trimble Inc	6,544	$534	0.2%	$71.89	+10.8%	—	896239100
APD	Air Prod.& Chem.	1,775	$484	0.2%	$268.13	-6.1%	—	009158106
—	Xylem Inc	2,744	$405	0.2%	$79.82	—	—	98419m100
TTWO	Take Two Interactive Software	1,550	$400	0.2%	$236.70	+5.3%	—	874054109
HEI	Heico Corp	1,225	$395	0.2%	$318.25	-0.7%	—	422806109
—	Moelis & Co	5,425	$387	0.2%	$0.07	—	—	60786m105
COIN	Coinbase Global, Inc.	1,125	$380	0.2%	$339.07	-12.1%	—	19260Q107
—	APA Corporation	15,626	$379	0.2%	$24.28	—	—	03743q108
—	Interactive Brokers Group	5,500	$378	0.2%	$68.81	—	—	45841n107
—	Celsius Holdings	6,450	$371	0.2%	$57.49	—	—	15118v207
—	Restaurant Brands Int'l	5,549	$356	0.2%	$10.55	—	—	76131d103
AMD	Advanced Micro Devices	2,175	$352	0.2%	$161.38	+39.2%	—	007903107
—	EOG Resources	3,025	$339	0.1%	$112.12	—	—	26875p101
—	CME Group	1,250	$338	0.1%	$5.67	—	—	12572q105
—	Kellanova	3,310	$271	0.1%	$68.41	+20.8%	—	487836108
—	First American Financial	4,050	$260	0.1%	$64.24	—	—	31847r102
CNI	Canadian Natl Rail	2,600	$245	0.1%	$109.08	-11.9%	—	136375102
—	Blackstone Inc	1,335	$228	0.1%	$170.85	—	—	09260d107
VMI	Valmont Industries	575	$223	0.1%	$363.72	+11.9%	—	920253101
DDOG	Datadog, Inc.	1,550	$221	0.1%	$126.18	+25.2%	—	23804L103
LNT	Alliant Energy	3,050	$206	0.1%	$60.10	+11.2%	—	018802108
MET	MetLife	2,475	$204	0.1%	$77.91	+1.3%	—	59156R108
—	Compass, Inc	10,030	$81	0.0%	$0.01	—	—	20464u100

Decreased Positions (27)

LEN LENNAR CORP 0.3%

Value ($000) $693 (-74.7%) Shares 6,745 (-68.9%) Est. Cost $132.10 Unrealized -8.6%

LII LENNOX INTL INC 0.1%

Value ($000) $308 (-80.9%) Shares 635 (-79.1%) Est. Cost $557.37 Unrealized -10.4%

H HYATT HOTELS CORP 0.9%

Value ($000) $2,149 (-35.2%) Shares 13,405 (-42.6%) Est. Cost $140.90 Unrealized +8.7%

MDLZ MONDELEZ INTL INC 0.2%

Value ($000) $386 (-73.1%) Shares 7,162 (-68.8%) Est. Cost $62.54 Unrealized -8.8%

DHI D R HORTON INC 0.3%

Value ($000) $634 (-56.4%) Shares 4,400 (-48.7%) Est. Cost $156.63 Unrealized -2.9%

VRT VERTIV HOLDINGS CO 0.6%

Value ($000) $1,366 (-35.8%) Shares 8,429 (-40.3%) Est. Cost $107.20 Unrealized +61.9%

LLY ELI LILLY & CO 1.1%

Value ($000) $2,553 (+37.1%) Shares 2,376 (-2.7%) Est. Cost $550.64 Unrealized +73.5%

BMY BRISTOL-MYERS SQUIBB CO 0.4%

Value ($000) $807 (-32.9%) Shares 14,955 (-43.9%) Est. Cost $52.70 Unrealized -9.8%

NCLH NORWEGIAN CRUISE LINE HLDG L 0.2%

Value ($000) $554 (-37.3%) Shares 24,800 (-30.8%) Est. Cost $24.29 Unrealized -13.1%

CCL CARNIVAL CORP 0.1%

Value ($000) $339 (-45.2%) Shares 11,100 (-48.1%) Est. Cost $30.20 Unrealized -7.7%

IBM INTERNATIONAL BUSINESS MACHS 1.2%

Value ($000) $2,744 (-8.8%) Shares 9,265 (-13.1%) Est. Cost $165.67 Unrealized +80.4%

CHD CHURCH & DWIGHT CO INC 1.9%

Value ($000) $4,431 (-5.3%) Shares 52,850 (-1.0%) Est. Cost $40.47 Unrealized +110.7%

MS MORGAN STANLEY 1.2%

Value ($000) $2,641 (+8.8%) Shares 14,875 (-2.6%) Est. Cost $71.63 Unrealized +132.4%

UNH UNITEDHEALTH GROUP INC 0.1%

Value ($000) $256 (-44.1%) Shares 775 (-41.5%) Est. Cost $374.94 Unrealized -10.1%

WASH WASHINGTON TR BANCORP INC 0.4%

Value ($000) $878 (-16.1%) Shares 29,700 (-17.9%) Est. Cost $24.85 Unrealized +12.3%

UPS UNITED PARCEL SERVICE INC 0.5%

Value ($000) $1,052 (+16.6%) Shares 10,610 (-1.9%) Est. Cost $112.89 Unrealized -17.8%

NKE NIKE INC 0.5%

Value ($000) $1,091 (-10.3%) Shares 17,125 (-1.9%) Est. Cost $84.21 Unrealized -22.9%

TMO THERMO FISHER SCIENTIFIC INC 0.6%

Value ($000) $1,271 (+9.0%) Shares 2,193 (-8.7%) Est. Cost $522.89 Unrealized +8.1%

SBUX STARBUCKS CORP 0.4%

Value ($000) $912 (-9.3%) Shares 10,834 (-8.8%) Est. Cost $84.55 Unrealized -0.6%

AIR AAR CORP 0.3%

Value ($000) $743 (-9.7%) Shares 8,975 (-2.2%) Est. Cost $61.19 Unrealized +35.2%

GIS GENERAL MLS INC 0.1%

Value ($000) $335 (-10.3%) Shares 7,200 (-2.7%) Est. Cost $64.77 Unrealized -26.7%

TDG TRANSDIGM GROUP INC 0.5%

Value ($000) $1,033 (-2.6%) Shares 777 (-3.5%) Est. Cost $1024.58 Unrealized +27.9%

SPG SIMON PPTY GROUP INC NEW 0.2%

Value ($000) $557 (-4.2%) Shares 3,010 (-2.9%) Est. Cost $104.28 Unrealized +72.6%

MMM 3M CO 0.2%

Value ($000) $496 (-4.5%) Shares 3,100 (-7.5%) Est. Cost $109.37 Unrealized +49.2%

CSX CSX CORP 1.9%

Value ($000) $4,262 (+0.4%) Shares 117,560 (-1.6%) Est. Cost $26.48 Unrealized +34.8%

PEP PEPSICO INC 0.3%

Value ($000) $652 (-1.1%) Shares 4,546 (-3.2%) Est. Cost $141.44 Unrealized +3.2%

WMT WALMART INC 0.3%

Value ($000) $581 (+0.7%) Shares 5,217 (-6.8%) Est. Cost $54.79 Unrealized +95.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LEN	LENNAR CORP	6,745 (-68.9%)	$693 (-74.7%)	0.3%	$132.10	-8.6%	CL A	526057104
LII	LENNOX INTL INC	635 (-79.1%)	$308 (-80.9%)	0.1%	$557.37	-10.4%	COM	526107107
H	HYATT HOTELS CORP	13,405 (-42.6%)	$2,149 (-35.2%)	0.9%	$140.90	+8.7%	COM CL A	448579102
MDLZ	MONDELEZ INTL INC	7,162 (-68.8%)	$386 (-73.1%)	0.2%	$62.54	-8.8%	CL A	609207105
DHI	D R HORTON INC	4,400 (-48.7%)	$634 (-56.4%)	0.3%	$156.63	-2.9%	COM	23331A109
VRT	VERTIV HOLDINGS CO	8,429 (-40.3%)	$1,366 (-35.8%)	0.6%	$107.20	+61.9%	COM CL A	92537N108
LLY	ELI LILLY & CO	2,376 (-2.7%)	$2,553 (+37.1%)	1.1%	$550.64	+73.5%	COM	532457108
BMY	BRISTOL-MYERS SQUIBB CO	14,955 (-43.9%)	$807 (-32.9%)	0.4%	$52.70	-9.8%	COM	110122108
NCLH	NORWEGIAN CRUISE LINE HLDG L	24,800 (-30.8%)	$554 (-37.3%)	0.2%	$24.29	-13.1%	SHS	G66721104
CCL	CARNIVAL CORP	11,100 (-48.1%)	$339 (-45.2%)	0.1%	$30.20	-7.7%	UNIT 99/99/9999	143658300
IBM	INTERNATIONAL BUSINESS MACHS	9,265 (-13.1%)	$2,744 (-8.8%)	1.2%	$165.67	+80.4%	COM	459200101
CHD	CHURCH & DWIGHT CO INC	52,850 (-1.0%)	$4,431 (-5.3%)	1.9%	$40.47	+110.7%	COM	171340102
MS	MORGAN STANLEY	14,875 (-2.6%)	$2,641 (+8.8%)	1.2%	$71.63	+132.4%	COM NEW	617446448
UNH	UNITEDHEALTH GROUP INC	775 (-41.5%)	$256 (-44.1%)	0.1%	$374.94	-10.1%	COM	91324P102
WASH	WASHINGTON TR BANCORP INC	29,700 (-17.9%)	$878 (-16.1%)	0.4%	$24.85	+12.3%	COM	940610108
UPS	UNITED PARCEL SERVICE INC	10,610 (-1.9%)	$1,052 (+16.6%)	0.5%	$112.89	-17.8%	CL B	911312106
NKE	NIKE INC	17,125 (-1.9%)	$1,091 (-10.3%)	0.5%	$84.21	-22.9%	CL B	654106103
TMO	THERMO FISHER SCIENTIFIC INC	2,193 (-8.7%)	$1,271 (+9.0%)	0.6%	$522.89	+8.1%	COM	883556102
SBUX	STARBUCKS CORP	10,834 (-8.8%)	$912 (-9.3%)	0.4%	$84.55	-0.6%	COM	855244109
AIR	AAR CORP	8,975 (-2.2%)	$743 (-9.7%)	0.3%	$61.19	+35.2%	COM	000361105
GIS	GENERAL MLS INC	7,200 (-2.7%)	$335 (-10.3%)	0.1%	$64.77	-26.7%	COM	370334104
TDG	TRANSDIGM GROUP INC	777 (-3.5%)	$1,033 (-2.6%)	0.5%	$1024.58	+27.9%	COM	893641100
SPG	SIMON PPTY GROUP INC NEW	3,010 (-2.9%)	$557 (-4.2%)	0.2%	$104.28	+72.6%	COM	828806109
MMM	3M CO	3,100 (-7.5%)	$496 (-4.5%)	0.2%	$109.37	+49.2%	COM	88579Y101
CSX	CSX CORP	117,560 (-1.6%)	$4,262 (+0.4%)	1.9%	$26.48	+34.8%	COM	126408103
PEP	PEPSICO INC	4,546 (-3.2%)	$652 (-1.1%)	0.3%	$141.44	+3.2%	COM	713448108
WMT	WALMART INC	5,217 (-6.8%)	$581 (+0.7%)	0.3%	$54.79	+95.6%	COM	931142103

Unchanged Positions (30)

AAPL APPLE INC 4.4%

Value ($000) $10,151 Shares 37,338 Est. Cost $113.52 Unrealized +136.4%

JNJ JOHNSON & JOHNSON 2.6%

Value ($000) $6,050 Shares 29,233 Est. Cost $101.38 Unrealized +94.3%

SYY SYSCO CORP 1.2%

Value ($000) $2,688 Shares 36,474 Est. Cost $66.01 Unrealized +14.4%

UTHR UNITED THERAPEUTICS CORP DEL 0.9%

Value ($000) $2,163 Shares 4,440 Est. Cost $227.59 Unrealized +104.6%

AMZN AMAZON COM INC 2.6%

Value ($000) $5,917 Shares 25,634 Est. Cost $174.38 Unrealized +31.2%

XOM EXXON MOBIL CORP 1.0%

Value ($000) $2,389 Shares 19,852 Est. Cost $63.08 Unrealized +83.1%

RY ROYAL BK CDA 0.5%

Value ($000) $1,074 Shares 6,300 Est. Cost $122.31 Unrealized +25.6%

AZN ASTRAZENECA PLC 0.3%

Value ($000) $616 Shares 6,697 Est. Cost $18.51 Unrealized —

KO COCA COLA CO 0.7%

Value ($000) $1,598 Shares 22,858 Est. Cost $41.61 Unrealized +66.8%

CSCO CISCO SYS INC 0.3%

Value ($000) $667 Shares 8,665 Est. Cost $31.04 Unrealized +137.7%

IR INGERSOLL RAND INC 0.5%

Value ($000) $1,239 Shares 15,634 Est. Cost $77.21 Unrealized +2.2%

INDB INDEPENDENT BK CORP MASS 0.4%

Value ($000) $986 Shares 13,492 Est. Cost $41.03 Unrealized +71.9%

GE GE AEROSPACE 0.6%

Value ($000) $1,301 Shares 4,222 Est. Cost $154.03 Unrealized +95.3%

DT DYNATRACE INC 0.1%

Value ($000) $239 Shares 5,525 Est. Cost $50.61 Unrealized -7.9%

PATK PATRICK INDS INC 0.3%

Value ($000) $606 Shares 5,586 Est. Cost $62.47 Unrealized +67.5%

TOL TOLL BROTHERS INC 0.5%

Value ($000) $1,061 Shares 7,850 Est. Cost $146.88 Unrealized -7.6%

LHX L3HARRIS TECHNOLOGIES INC 0.2%

Value ($000) $528 Shares 1,800 Est. Cost $203.94 Unrealized +41.4%

HON HONEYWELL INTL INC 0.1%

Value ($000) $267 Shares 1,368 Est. Cost $145.14 Unrealized +34.4%

TT TRANE TECHNOLOGIES PLC 0.1%

Value ($000) $224 Shares 575 Est. Cost $426.60 Unrealized -3.0%

ALL ALLSTATE CORP 0.2%

Value ($000) $416 Shares 2,000 Est. Cost $86.64 Unrealized +135.5%

INTU INTUIT 0.2%

Value ($000) $381 Shares 575 Est. Cost $351.86 Unrealized +87.8%

DRI DARDEN RESTAURANTS INC 0.1%

Value ($000) $293 Shares 1,591 Est. Cost $112.18 Unrealized +62.3%

TRV TRAVELERS COMPANIES INC 0.1%

Value ($000) $228 Shares 787 Est. Cost $245.41 Unrealized +14.3%

CL COLGATE PALMOLIVE CO 0.3%

Value ($000) $655 Shares 8,288 Est. Cost $53.64 Unrealized +46.0%

JPM JPMORGAN CHASE & CO. 0.2%

Value ($000) $351 Shares 1,089 Est. Cost $190.58 Unrealized +62.4%

EMR EMERSON ELEC CO 0.3%

Value ($000) $625 Shares 4,708 Est. Cost $72.37 Unrealized +82.9%

HSY HERSHEY CO 0.1%

Value ($000) $259 Shares 1,425 Est. Cost $161.62 Unrealized +12.7%

AB ALLIANCEBERNSTEIN HLDG L P 0.2%

Value ($000) $381 Shares 9,900 Est. Cost $0.03 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 1.7%

Value ($000) $3,956 Shares 7,870 Est. Cost $182.12 Unrealized +173.2%

CFR CULLEN FROST BANKERS INC 0.1%

Value ($000) $228 Shares 1,800 Est. Cost $104.96 Unrealized +18.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	37,338	$10,151	4.4%	$113.52	+136.4%	COM	037833100
JNJ	JOHNSON & JOHNSON	29,233	$6,050	2.6%	$101.38	+94.3%	COM	478160104
SYY	SYSCO CORP	36,474	$2,688	1.2%	$66.01	+14.4%	COM	871829107
UTHR	UNITED THERAPEUTICS CORP DEL	4,440	$2,163	0.9%	$227.59	+104.6%	COM	91307C102
AMZN	AMAZON COM INC	25,634	$5,917	2.6%	$174.38	+31.2%	COM	023135106
XOM	EXXON MOBIL CORP	19,852	$2,389	1.0%	$63.08	+83.1%	COM	30231G102
RY	ROYAL BK CDA	6,300	$1,074	0.5%	$122.31	+25.6%	COM	780087102
AZN	ASTRAZENECA PLC	6,697	$616	0.3%	$18.51	—	SPONSORED ADR	046353108
KO	COCA COLA CO	22,858	$1,598	0.7%	$41.61	+66.8%	COM	191216100
CSCO	CISCO SYS INC	8,665	$667	0.3%	$31.04	+137.7%	COM	17275R102
IR	INGERSOLL RAND INC	15,634	$1,239	0.5%	$77.21	+2.2%	COM	45687V106
INDB	INDEPENDENT BK CORP MASS	13,492	$986	0.4%	$41.03	+71.9%	COM	453836108
GE	GE AEROSPACE	4,222	$1,301	0.6%	$154.03	+95.3%	COM NEW	369604301
DT	DYNATRACE INC	5,525	$239	0.1%	$50.61	-7.9%	COM NEW	268150109
PATK	PATRICK INDS INC	5,586	$606	0.3%	$62.47	+67.5%	COM	703343103
TOL	TOLL BROTHERS INC	7,850	$1,061	0.5%	$146.88	-7.6%	COM	889478103
LHX	L3HARRIS TECHNOLOGIES INC	1,800	$528	0.2%	$203.94	+41.4%	COM	502431109
HON	HONEYWELL INTL INC	1,368	$267	0.1%	$145.14	+34.4%	COM	438516106
TT	TRANE TECHNOLOGIES PLC	575	$224	0.1%	$426.60	-3.0%	SHS	G8994E103
ALL	ALLSTATE CORP	2,000	$416	0.2%	$86.64	+135.5%	COM	020002101
INTU	INTUIT	575	$381	0.2%	$351.86	+87.8%	COM	461202103
DRI	DARDEN RESTAURANTS INC	1,591	$293	0.1%	$112.18	+62.3%	COM	237194105
TRV	TRAVELERS COMPANIES INC	787	$228	0.1%	$245.41	+14.3%	COM	89417E109
CL	COLGATE PALMOLIVE CO	8,288	$655	0.3%	$53.64	+46.0%	COM	194162103
JPM	JPMORGAN CHASE & CO.	1,089	$351	0.2%	$190.58	+62.4%	COM	46625H100
EMR	EMERSON ELEC CO	4,708	$625	0.3%	$72.37	+82.9%	COM	291011104
HSY	HERSHEY CO	1,425	$259	0.1%	$161.62	+12.7%	COM	427866108
AB	ALLIANCEBERNSTEIN HLDG L P	9,900	$381	0.2%	$0.03	—	UNIT LTD PARTN	01881G106
BRK/B	BERKSHIRE HATHAWAY INC DEL	7,870	$3,956	1.7%	$182.12	+173.2%	CL B NEW	084670702
CFR	CULLEN FROST BANKERS INC	1,800	$228	0.1%	$104.96	+18.9%	COM	229899109