Ninety One North America, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA Corp	152,128	$28,372	1.2%	$186.13	0.0%	Common Stock	67066G104
AVGO	Broadcom Inc	41,182	$14,253	0.6%	$357.00	0.0%	Common Stock	11135F101
TKO	TKO Group Holdings Inc	62,231	$13,006	0.5%	$193.76	0.0%	Common Stock	87256C101
AMZN	Amazon.com Inc	51,721	$11,938	0.5%	$228.79	0.0%	Common Stock	023135106
TRMB	Trimble Inc	122,272	$9,580	0.4%	$79.69	0.0%	Common Stock	896239100
VMI	Valmont Industries Inc	23,228	$9,345	0.4%	$406.96	0.0%	Common Stock	920253101
JPM	JPMorgan Chase & Co	26,814	$8,640	0.4%	$309.53	0.0%	Common Stock	46625H100
BSX	Boston Scientific Corp	77,718	$7,410	0.3%	$98.04	0.0%	Common Stock	101137107
LLY	Eli Lilly & Co	6,581	$7,072	0.3%	$955.55	0.0%	Common Stock	532457108
AAPL	Apple Inc	24,998	$6,796	0.3%	$268.34	0.0%	Common Stock	037833100
UBS	UBS Group AG	134,367	$6,268	0.3%	$40.40	0.0%	Common Stock	H42097107
CL	Colgate-Palmolive Co	74,432	$5,882	0.2%	$78.31	0.0%	Common Stock	194162103
B	Barrick Mining Corp	134,473	$5,856	0.2%	$37.42	0.0%	Common Stock	06849F108
GM	General Motors Co	68,043	$5,533	0.2%	$70.40	0.0%	Common Stock	37045V100
CRH	CRH PLC	43,670	$5,450	0.2%	$119.13	0.0%	Common Stock	G25508105
TTWO	Take-Two Interactive Software Inc	21,174	$5,421	0.2%	$249.31	0.0%	Common Stock	874054109
AER	AerCap Holdings NV	35,546	$5,110	0.2%	$132.45	0.0%	Common Stock	N00985106
J	Jacobs Solutions Inc	37,505	$4,968	0.2%	$146.41	0.0%	Common Stock	46982L108
GS	Goldman Sachs Group Inc/The	5,235	$4,602	0.2%	$813.35	0.0%	Common Stock	38141G104
TRU	TransUnion	52,351	$4,489	0.2%	$82.11	0.0%	Common Stock	89400J107
XOM	Exxon Mobil Corp	35,878	$4,318	0.2%	$115.49	0.0%	Common Stock	30231G102
TMO	Thermo Fisher Scientific Inc	7,342	$4,254	0.2%	$565.16	0.0%	Common Stock	883556102
CFG	Citizens Financial Group Inc	69,448	$4,056	0.2%	$53.58	0.0%	Common Stock	174610105
PLNT	Planet Fitness Inc	36,122	$3,918	0.2%	$102.94	0.0%	Common Stock	72703H101
Z	Zillow Group Inc	55,789	$3,806	0.2%	$72.41	0.0%	Common Stock	98954M200
BA	Boeing Co/The	16,831	$3,654	0.1%	$205.66	0.0%	Common Stock	097023105
META	Meta Platforms Inc	5,408	$3,570	0.1%	$667.32	0.0%	Common Stock	30303M102
FCX	Freeport-McMoRan Inc	64,777	$3,290	0.1%	$43.31	0.0%	Common Stock	35671D857
SNX	TD SYNNEX Corp	21,551	$3,238	0.1%	$152.83	0.0%	Common Stock	87162W100
DAL	Delta Air Lines Inc	41,414	$2,874	0.1%	$62.45	0.0%	Common Stock	247361702
GLPI	Gaming and Leisure Properties Inc	51,266	$2,291	0.1%	$44.69	—	REIT	36467J108
OKTA	Okta Inc	26,425	$2,285	0.1%	$87.27	0.0%	Common Stock	679295105
BROS	Dutch Bros Inc	35,423	$2,169	0.1%	$56.81	0.0%	Common Stock	26701L100
PINS	Pinterest Inc	83,397	$2,159	0.1%	$28.79	0.0%	Common Stock	72352L106
DASH	DoorDash Inc	9,402	$2,129	0.1%	$234.56	0.0%	Common Stock	25809K105
TW	Tradeweb Markets Inc	19,160	$2,060	0.1%	$107.35	0.0%	Common Stock	892672106
ELV	Elevance Health Inc	5,137	$1,801	0.1%	$336.70	0.0%	Common Stock	036752103
HOOD	Robinhood Markets Inc	15,863	$1,794	0.1%	$130.05	0.0%	Common Stock	770700102

Increased Positions (38)

GOOGL Alphabet Inc 5.4%

Value ($000) $133,468 (+46.9%) Shares 426,416 (+14.1%) Est. Cost $150.74 Unrealized +89.5%

MRSH Marsh & McLennan Cos Inc 2.0%

Value ($000) $49,579 (+150.9%) Shares 267,244 (+172.6%) Est. Cost $199.96 Unrealized -6.8%

INDA iShares MSCI India ETF 2.4%

Value ($000) $59,875 (+34.6%) Shares 1,107,777 (+29.7%) Est. Cost $52.79 Unrealized —

MSI Motorola Solutions Inc 1.7%

Value ($000) $41,552 (+57.0%) Shares 108,400 (+87.3%) Est. Cost $385.56 Unrealized +3.9%

JNJ Johnson & Johnson 2.3%

Value ($000) $57,584 (+29.0%) Shares 278,252 (+15.6%) Est. Cost $147.52 Unrealized +33.5%

MA Mastercard Inc 3.8%

Value ($000) $94,044 (+14.4%) Shares 164,735 (+14.0%) Est. Cost $488.42 Unrealized +14.4%

AON Aon PLC 2.5%

Value ($000) $62,278 (+20.2%) Shares 176,485 (+21.5%) Est. Cost $358.57 Unrealized -2.6%

NU NU Holdings Ltd/Cayman Islands 1.9%

Value ($000) $46,125 (+28.1%) Shares 2,755,386 (+22.5%) Est. Cost $14.34 Unrealized +12.1%

BAP Credicorp Ltd 1.9%

Value ($000) $47,876 (+18.4%) Shares 166,814 (+9.9%) Est. Cost $166.90 Unrealized +58.6%

V Visa Inc 6.2%

Value ($000) $153,732 (+4.2%) Shares 438,344 (+1.5%) Est. Cost $243.63 Unrealized +39.7%

ALC Alcon AG 2.4%

Value ($000) $58,172 (+11.6%) Shares 728,305 (+4.1%) Est. Cost $83.20 Unrealized -7.5%

ALGN Align Technology Inc 1.1%

Value ($000) $26,394 (+26.9%) Shares 169,028 (+1.8%) Est. Cost $220.86 Unrealized -35.1%

EW Edwards Lifesciences Corp 2.0%

Value ($000) $48,417 (+12.9%) Shares 567,944 (+3.0%) Est. Cost $74.13 Unrealized +10.7%

ICLR ICON PLC 3.4%

Value ($000) $82,983 (+7.1%) Shares 455,399 (+2.8%) Est. Cost $205.93 Unrealized -13.5%

IBN ICICI Bank Ltd 0.7%

Value ($000) $17,345 (+43.1%) Shares 582,037 (+45.2%) Est. Cost $29.97 Unrealized —

NTES NetEase Inc 2.8%

Value ($000) $68,843 (-6.4%) Shares 500,241 (+3.4%) Est. Cost $113.45 Unrealized —

ABT Abbott Laboratories 0.2%

Value ($000) $5,556 (+523.5%) Shares 44,344 (+566.5%) Est. Cost $124.27 Unrealized +2.4%

VRSN VeriSign Inc 1.6%

Value ($000) $38,613 (-10.3%) Shares 158,934 (+3.3%) Est. Cost $208.64 Unrealized +20.2%

ACM AECOM 0.5%

Value ($000) $13,137 (-24.8%) Shares 137,801 (+2.9%) Est. Cost $97.59 Unrealized +20.1%

ADSK Autodesk Inc 3.6%

Value ($000) $90,002 (-4.3%) Shares 304,051 (+2.7%) Est. Cost $261.51 Unrealized +15.7%

CHKP Check Point Software Technologies Ltd 1.5%

Value ($000) $37,789 (-8.7%) Shares 203,646 (+1.8%) Est. Cost $153.06 Unrealized +26.3%

ICE Intercontinental Exchange Inc 0.2%

Value ($000) $4,168 (+284.2%) Shares 25,737 (+299.7%) Est. Cost $155.07 Unrealized +0.7%

SPGI S&P Global Inc 1.5%

Value ($000) $36,292 (+9.1%) Shares 69,447 (+1.6%) Est. Cost $390.36 Unrealized +26.6%

EA Electronic Arts Inc 2.8%

Value ($000) $67,961 (+4.3%) Shares 332,602 (+3.0%) Est. Cost $137.41 Unrealized +46.8%

MCO Moody's Corp 1.4%

Value ($000) $33,447 (+8.9%) Shares 65,473 (+1.6%) Est. Cost $348.57 Unrealized +39.8%

EEM iShares MSCI Emerging Markets ETF 0.4%

Value ($000) $10,214 (+26.8%) Shares 186,696 (+23.8%) Est. Cost $53.65 Unrealized —

FTI TechnipFMC PLC 0.3%

Value ($000) $6,200 (+33.2%) Shares 139,130 (+17.9%) Est. Cost $29.59 Unrealized +42.6%

ZTS Zoetis Inc 0.1%

Value ($000) $1,630 (+519.6%) Shares 12,955 (+620.5%) Est. Cost $134.21 Unrealized -2.9%

INTU Intuit Inc 2.9%

Value ($000) $72,092 (-1.3%) Shares 108,831 (+1.8%) Est. Cost $492.27 Unrealized +34.2%

BKNG Booking Holdings Inc 3.5%

Value ($000) $85,712 (+0.9%) Shares 16,005 (+1.8%) Est. Cost $3019.07 Unrealized +70.2%

FDS FactSet Research Systems Inc 1.0%

Value ($000) $25,008 (+3.1%) Shares 86,179 (+1.8%) Est. Cost $368.76 Unrealized -24.1%

PM Philip Morris International Inc 4.6%

Value ($000) $113,301 (+0.6%) Shares 706,366 (+1.7%) Est. Cost $86.52 Unrealized +77.5%

TTEK Tetra Tech Inc 0.6%

Value ($000) $13,937 (+3.3%) Shares 415,535 (+2.8%) Est. Cost $40.35 Unrealized -16.2%

USHY iShares Broad USD High Yield Corporate Bond ETF 0.0%

Value ($000) $825 (+73.8%) Shares 22,070 (+75.6%) Est. Cost $37.61 Unrealized —

WM Waste Management Inc 0.4%

Value ($000) $9,702 (+2.3%) Shares 44,160 (+2.8%) Est. Cost $178.19 Unrealized +19.3%

XP XP Inc 1.0%

Value ($000) $23,507 (+0.9%) Shares 1,435,950 (+15.8%) Est. Cost $17.89 Unrealized -1.6%

CP Canadian Pacific Kansas City Ltd 0.7%

Value ($000) $16,228 (+1.1%) Shares 220,134 (+2.2%) Est. Cost $76.12 Unrealized -3.3%

AGCO AGCO Corp 0.4%

Value ($000) $10,504 (+0.2%) Shares 100,693 (+2.9%) Est. Cost $109.64 Unrealized -3.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	Alphabet Inc	426,416 (+14.1%)	$133,468 (+46.9%)	5.4%	$150.74	+89.5%	Common Stock	02079K305
MRSH	Marsh & McLennan Cos Inc	267,244 (+172.6%)	$49,579 (+150.9%)	2.0%	$199.96	-6.8%	Common Stock	571748102
INDA	iShares MSCI India ETF	1,107,777 (+29.7%)	$59,875 (+34.6%)	2.4%	$52.79	—	ETP	46429B598
MSI	Motorola Solutions Inc	108,400 (+87.3%)	$41,552 (+57.0%)	1.7%	$385.56	+3.9%	Common Stock	620076307
JNJ	Johnson & Johnson	278,252 (+15.6%)	$57,584 (+29.0%)	2.3%	$147.52	+33.5%	Common Stock	478160104
MA	Mastercard Inc	164,735 (+14.0%)	$94,044 (+14.4%)	3.8%	$488.42	+14.4%	Common Stock	57636Q104
AON	Aon PLC	176,485 (+21.5%)	$62,278 (+20.2%)	2.5%	$358.57	-2.6%	Common Stock	G0403H108
NU	NU Holdings Ltd/Cayman Islands	2,755,386 (+22.5%)	$46,125 (+28.1%)	1.9%	$14.34	+12.1%	Common Stock	G6683N103
BAP	Credicorp Ltd	166,814 (+9.9%)	$47,876 (+18.4%)	1.9%	$166.90	+58.6%	Common Stock	G2519Y108
V	Visa Inc	438,344 (+1.5%)	$153,732 (+4.2%)	6.2%	$243.63	+39.7%	Common Stock	92826C839
ALC	Alcon AG	728,305 (+4.1%)	$58,172 (+11.6%)	2.4%	$83.20	-7.5%	Common Stock	H01301128
ALGN	Align Technology Inc	169,028 (+1.8%)	$26,394 (+26.9%)	1.1%	$220.86	-35.1%	Common Stock	016255101
EW	Edwards Lifesciences Corp	567,944 (+3.0%)	$48,417 (+12.9%)	2.0%	$74.13	+10.7%	Common Stock	28176E108
ICLR	ICON PLC	455,399 (+2.8%)	$82,983 (+7.1%)	3.4%	$205.93	-13.5%	Common Stock	G4705A100
IBN	ICICI Bank Ltd	582,037 (+45.2%)	$17,345 (+43.1%)	0.7%	$29.97	—	ADR	45104G104
NTES	NetEase Inc	500,241 (+3.4%)	$68,843 (-6.4%)	2.8%	$113.45	—	ADR	64110W102
ABT	Abbott Laboratories	44,344 (+566.5%)	$5,556 (+523.5%)	0.2%	$124.27	+2.4%	Common Stock	002824100
VRSN	VeriSign Inc	158,934 (+3.3%)	$38,613 (-10.3%)	1.6%	$208.64	+20.2%	Common Stock	92343E102
ACM	AECOM	137,801 (+2.9%)	$13,137 (-24.8%)	0.5%	$97.59	+20.1%	Common Stock	00766T100
ADSK	Autodesk Inc	304,051 (+2.7%)	$90,002 (-4.3%)	3.6%	$261.51	+15.7%	Common Stock	052769106
CHKP	Check Point Software Technologies Ltd	203,646 (+1.8%)	$37,789 (-8.7%)	1.5%	$153.06	+26.3%	Common Stock	M22465104
ICE	Intercontinental Exchange Inc	25,737 (+299.7%)	$4,168 (+284.2%)	0.2%	$155.07	+0.7%	Common Stock	45866F104
SPGI	S&P Global Inc	69,447 (+1.6%)	$36,292 (+9.1%)	1.5%	$390.36	+26.6%	Common Stock	78409V104
EA	Electronic Arts Inc	332,602 (+3.0%)	$67,961 (+4.3%)	2.8%	$137.41	+46.8%	Common Stock	285512109
MCO	Moody's Corp	65,473 (+1.6%)	$33,447 (+8.9%)	1.4%	$348.57	+39.8%	Common Stock	615369105
EEM	iShares MSCI Emerging Markets ETF	186,696 (+23.8%)	$10,214 (+26.8%)	0.4%	$53.65	—	ETP	464287234
FTI	TechnipFMC PLC	139,130 (+17.9%)	$6,200 (+33.2%)	0.3%	$29.59	+42.6%	Common Stock	G87110105
ZTS	Zoetis Inc	12,955 (+620.5%)	$1,630 (+519.6%)	0.1%	$134.21	-2.9%	Common Stock	98978V103
INTU	Intuit Inc	108,831 (+1.8%)	$72,092 (-1.3%)	2.9%	$492.27	+34.2%	Common Stock	461202103
BKNG	Booking Holdings Inc	16,005 (+1.8%)	$85,712 (+0.9%)	3.5%	$3019.07	+70.2%	Common Stock	09857L108
FDS	FactSet Research Systems Inc	86,179 (+1.8%)	$25,008 (+3.1%)	1.0%	$368.76	-24.1%	Common Stock	303075105
PM	Philip Morris International Inc	706,366 (+1.7%)	$113,301 (+0.6%)	4.6%	$86.52	+77.5%	Common Stock	718172109
TTEK	Tetra Tech Inc	415,535 (+2.8%)	$13,937 (+3.3%)	0.6%	$40.35	-16.2%	Common Stock	88162G103
USHY	iShares Broad USD High Yield Corporate Bond ETF	22,070 (+75.6%)	$825 (+73.8%)	0.0%	$37.61	—	ETP	46435U853
WM	Waste Management Inc	44,160 (+2.8%)	$9,702 (+2.3%)	0.4%	$178.19	+19.3%	Common Stock	94106L109
XP	XP Inc	1,435,950 (+15.8%)	$23,507 (+0.9%)	1.0%	$17.89	-1.6%	Common Stock	G98239109
CP	Canadian Pacific Kansas City Ltd	220,134 (+2.2%)	$16,228 (+1.1%)	0.7%	$76.12	-3.3%	Common Stock	13646K108
AGCO	AGCO Corp	100,693 (+2.9%)	$10,504 (+0.2%)	0.4%	$109.64	-3.3%	Common Stock	001084102

Exited Positions (6)

SE Sea Ltd 2.7%

Value ($000) $66,577 Shares 372,502 Est. Cost $118.05 Unrealized —

MELI MercadoLibre Inc 0.4%

Value ($000) $11,084 Shares 4,743 Est. Cost $2029.14 Unrealized +3.5%

UAE iShares MSCI UAE ETF 0.2%

Value ($000) $5,093 Shares 269,635 Est. Cost $18.89 Unrealized —

EMBJ Embraer SA 0.2%

Value ($000) $4,411 Shares 72,962 Est. Cost $36.54 Unrealized —

ACN Accenture PLC 0.0%

Value ($000) $1,148 Shares 4,655 Est. Cost $336.56 Unrealized -24.5%

SRLN SPDR Blackstone Senior Loan ETF 0.0%

Value ($000) $903 Shares 21,718 Est. Cost $41.54 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SE	Sea Ltd	372,502	$66,577	2.7%	$118.05	—	—	81141R100
MELI	MercadoLibre Inc	4,743	$11,084	0.4%	$2029.14	+3.5%	—	58733R102
UAE	iShares MSCI UAE ETF	269,635	$5,093	0.2%	$18.89	—	—	46434V761
EMBJ	Embraer SA	72,962	$4,411	0.2%	$36.54	—	—	29082A107
ACN	Accenture PLC	4,655	$1,148	0.0%	$336.56	-24.5%	—	G1151C101
SRLN	SPDR Blackstone Senior Loan ETF	21,718	$903	0.0%	$41.54	—	—	78467V608

Decreased Positions (20)

CPNG Coupang Inc 0.0%

Value ($000) $17 (-99.9%) Shares 717 (-99.9%) Est. Cost $24.82 Unrealized +14.6%

MSFT Microsoft Corp 5.0%

Value ($000) $124,440 (-12.3%) Shares 257,310 (-6.0%) Est. Cost $277.48 Unrealized +80.4%

TSM Taiwan Semiconductor Manufacturing Co Ltd 3.2%

Value ($000) $78,120 (-8.6%) Shares 257,068 (-16.0%) Est. Cost $136.99 Unrealized —

RACE Ferrari NV 0.2%

Value ($000) $4,164 (-55.6%) Shares 11,126 (-42.6%) Est. Cost $479.13 Unrealized -16.5%

NEE NextEra Energy Inc 0.9%

Value ($000) $22,818 (-11.3%) Shares 284,236 (-16.6%) Est. Cost $66.32 Unrealized +24.4%

TX Ternium SA 1.2%

Value ($000) $30,004 (-7.1%) Shares 785,653 (-15.6%) Est. Cost $30.62 Unrealized —

ASX ASE Technology Holding Co Ltd 0.3%

Value ($000) $7,638 (+38.6%) Shares 474,381 (-4.5%) Est. Cost $10.38 Unrealized —

PG Procter & Gamble Co/The 0.1%

Value ($000) $2,924 (-29.4%) Shares 20,401 (-24.3%) Est. Cost $164.23 Unrealized -10.4%

KGC Kinross Gold Corp 0.5%

Value ($000) $12,421 (-7.6%) Shares 440,414 (-18.6%) Est. Cost $19.24 Unrealized +35.1%

TEL TE Connectivity PLC 0.7%

Value ($000) $17,273 (-4.0%) Shares 75,921 (-7.4%) Est. Cost $147.00 Unrealized +57.3%

MNST Monster Beverage Corp 1.4%

Value ($000) $35,627 (+1.3%) Shares 464,682 (-11.1%) Est. Cost $56.14 Unrealized +27.6%

AJG Arthur J Gallagher & Co 0.0%

Value ($000) $489 (-36.7%) Shares 1,891 (-24.3%) Est. Cost $278.61 Unrealized -5.2%

EFX Equifax Inc 0.0%

Value ($000) $322 (-35.9%) Shares 1,483 (-24.3%) Est. Cost $279.16 Unrealized -21.7%

ROP Roper Technologies Inc 0.0%

Value ($000) $361 (-32.4%) Shares 812 (-24.3%) Est. Cost $544.48 Unrealized -15.1%

CME CME Group Inc 0.0%

Value ($000) $477 (-23.5%) Shares 1,747 (-24.3%) Est. Cost $196.43 Unrealized +37.8%

KO Coca-Cola Co/The 0.0%

Value ($000) $573 (-20.2%) Shares 8,190 (-24.3%) Est. Cost $65.65 Unrealized +5.7%

BR Broadridge Financial Solutions Inc 0.0%

Value ($000) $272 (-29.0%) Shares 1,221 (-24.3%) Est. Cost $204.45 Unrealized +11.2%

OTIS Otis Worldwide Corp 0.0%

Value ($000) $273 (-27.6%) Shares 3,122 (-24.3%) Est. Cost $93.03 Unrealized -4.1%

STE STERIS PLC 0.0%

Value ($000) $250 (-22.4%) Shares 987 (-24.3%) Est. Cost $231.10 Unrealized +8.7%

JKHY Jack Henry & Associates Inc 0.0%

Value ($000) $91 (-7.1%) Shares 498 (-24.2%) Est. Cost $166.06 Unrealized +0.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPNG	Coupang Inc	717 (-99.9%)	$17 (-99.9%)	0.0%	$24.82	+14.6%	Common Stock	22266T109
MSFT	Microsoft Corp	257,310 (-6.0%)	$124,440 (-12.3%)	5.0%	$277.48	+80.4%	Common Stock	594918104
TSM	Taiwan Semiconductor Manufacturing Co Ltd	257,068 (-16.0%)	$78,120 (-8.6%)	3.2%	$136.99	—	ADR	874039100
RACE	Ferrari NV	11,126 (-42.6%)	$4,164 (-55.6%)	0.2%	$479.13	-16.5%	Common Stock	N3167Y103
NEE	NextEra Energy Inc	284,236 (-16.6%)	$22,818 (-11.3%)	0.9%	$66.32	+24.4%	Common Stock	65339F101
TX	Ternium SA	785,653 (-15.6%)	$30,004 (-7.1%)	1.2%	$30.62	—	ADR	880890108
ASX	ASE Technology Holding Co Ltd	474,381 (-4.5%)	$7,638 (+38.6%)	0.3%	$10.38	—	ADR	00215W100
PG	Procter & Gamble Co/The	20,401 (-24.3%)	$2,924 (-29.4%)	0.1%	$164.23	-10.4%	Common Stock	742718109
KGC	Kinross Gold Corp	440,414 (-18.6%)	$12,421 (-7.6%)	0.5%	$19.24	+35.1%	Common Stock	496902404
TEL	TE Connectivity PLC	75,921 (-7.4%)	$17,273 (-4.0%)	0.7%	$147.00	+57.3%	Common Stock	G87052109
MNST	Monster Beverage Corp	464,682 (-11.1%)	$35,627 (+1.3%)	1.4%	$56.14	+27.6%	Common Stock	61174X109
AJG	Arthur J Gallagher & Co	1,891 (-24.3%)	$489 (-36.7%)	0.0%	$278.61	-5.2%	Common Stock	363576109
EFX	Equifax Inc	1,483 (-24.3%)	$322 (-35.9%)	0.0%	$279.16	-21.7%	Common Stock	294429105
ROP	Roper Technologies Inc	812 (-24.3%)	$361 (-32.4%)	0.0%	$544.48	-15.1%	Common Stock	776696106
CME	CME Group Inc	1,747 (-24.3%)	$477 (-23.5%)	0.0%	$196.43	+37.8%	Common Stock	12572Q105
KO	Coca-Cola Co/The	8,190 (-24.3%)	$573 (-20.2%)	0.0%	$65.65	+5.7%	Common Stock	191216100
BR	Broadridge Financial Solutions Inc	1,221 (-24.3%)	$272 (-29.0%)	0.0%	$204.45	+11.2%	Common Stock	11133T103
OTIS	Otis Worldwide Corp	3,122 (-24.3%)	$273 (-27.6%)	0.0%	$93.03	-4.1%	Common Stock	68902V107
STE	STERIS PLC	987 (-24.3%)	$250 (-22.4%)	0.0%	$231.10	+8.7%	Common Stock	G8473T100
JKHY	Jack Henry & Associates Inc	498 (-24.2%)	$91 (-7.1%)	0.0%	$166.06	+0.1%	Common Stock	426281101

Unchanged Positions (6)

VALE Vale SA 1.8%

Value ($000) $43,804 Shares 3,361,779 Est. Cost $11.85 Unrealized —

VIST Vista Energy SAB de CV 1.0%

Value ($000) $23,543 Shares 483,830 Est. Cost $52.46 Unrealized —

STNE StoneCo Ltd 0.9%

Value ($000) $23,382 Shares 1,580,941 Est. Cost $18.06 Unrealized —

ADP Automatic Data Processing Inc 1.7%

Value ($000) $41,896 Shares 162,873 Est. Cost $225.54 Unrealized +17.4%

HDB HDFC Bank Ltd 0.3%

Value ($000) $7,263 Shares 198,771 Est. Cost $54.23 Unrealized —

BKLN Invesco Senior Loan ETF 0.0%

Value ($000) $886 Shares 42,200 Est. Cost $20.98 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VALE	Vale SA	3,361,779	$43,804	1.8%	$11.85	—	ADR	91912E105
VIST	Vista Energy SAB de CV	483,830	$23,543	1.0%	$52.46	—	ADR	92837L109
STNE	StoneCo Ltd	1,580,941	$23,382	0.9%	$18.06	—	Common Stock	G85158106
ADP	Automatic Data Processing Inc	162,873	$41,896	1.7%	$225.54	+17.4%	Common Stock	053015103
HDB	HDFC Bank Ltd	198,771	$7,263	0.3%	$54.23	—	ADR	40415F101
BKLN	Invesco Senior Loan ETF	42,200	$886	0.0%	$20.98	—	ETP	46138G508