2Xideas AG Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PCOR	PROCORE TECHNOLOGIES INC	71,261	$5,184	1.5%	$73.96	0.0%	COM	74275K108
AON	AON PLC	12,371	$4,365	1.2%	$349.16	0.0%	SHS CL A	G0403H108
HUBB	HUBBELL INC	8,941	$3,971	1.1%	$437.22	0.0%	COM	443510607
SNEX	STONEX GROUP INC	41,639	$3,961	1.1%	$94.30	0.0%	COM	861896108
A	AGILENT TECHNOLOGIES INC	24,103	$3,280	0.9%	$143.72	0.0%	COM	00846U101
RBA	RB GLOBAL INC	24,020	$2,471	0.7%	$101.58	0.0%	COM	74935Q107
VEEV	VEEVA SYS INC	10,265	$2,291	0.6%	$265.35	0.0%	CL A COM	922475108
GLBE	GLOBAL E ONLINE LTD	53,523	$2,104	0.6%	$37.09	0.0%	SHS	M5216V106
WSO	WATSCO INC	4,837	$1,630	0.5%	$357.07	0.0%	COM	942622200

Increased Positions (3)

APG API GROUP CORP 2.0%

Value ($000) $7,256 (+207.4%) Shares 189,651 (+176.1%) Est. Cost $32.66 Unrealized +13.2%

NYT NEW YORK TIMES CO 2.5%

Value ($000) $8,791 (+30.0%) Shares 126,631 (+7.5%) Est. Cost $47.37 Unrealized +30.5%

ASGN ASGN INC 0.7%

Value ($000) $2,523 (+73.1%) Shares 52,374 (+70.2%) Est. Cost $48.99 Unrealized -5.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
APG	API GROUP CORP	189,651 (+176.1%)	$7,256 (+207.4%)	2.0%	$32.66	+13.2%	COM STK	00187Y100
NYT	NEW YORK TIMES CO	126,631 (+7.5%)	$8,791 (+30.0%)	2.5%	$47.37	+30.5%	CL A	650111107
ASGN	ASGN INC	52,374 (+70.2%)	$2,523 (+73.1%)	0.7%	$48.99	-5.9%	COM	00191U102

Exited Positions (15)

BRO BROWN & BROWN INC 1.9%

Value ($000) $6,630 Shares 70,685 Est. Cost $97.18 Unrealized -14.2%

MSCI MSCI INC 1.8%

Value ($000) $6,484 Shares 11,428 Est. Cost $467.39 Unrealized +19.8%

NVT NVENT ELECTRIC PLC 1.6%

Value ($000) $5,541 Shares 56,178 Est. Cost $60.98 Unrealized +69.9%

COO COOPER COS INC 1.2%

Value ($000) $4,399 Shares 64,156 Est. Cost $97.78 Unrealized -23.4%

HOLX HOLOGIC INC 1.2%

Value ($000) $4,289 Shares 63,554 Est. Cost $66.26 Unrealized +10.3%

MANH MANHATTAN ASSOCIATES INC 1.1%

Value ($000) $3,828 Shares 18,677 Est. Cost $211.48 Unrealized -13.6%

POOL POOL CORP 1.0%

Value ($000) $3,712 Shares 11,971 Est. Cost $354.66 Unrealized -26.8%

PAYC PAYCOM SOFTWARE INC 0.8%

Value ($000) $2,937 Shares 14,113 Est. Cost $244.84 Unrealized -27.7%

H HYATT HOTELS CORP 0.8%

Value ($000) $2,704 Shares 19,053 Est. Cost $145.36 Unrealized +5.3%

ENTG ENTEGRIS INC 0.7%

Value ($000) $2,594 Shares 28,053 Est. Cost $97.47 Unrealized -11.0%

SNPS SYNOPSYS INC 0.7%

Value ($000) $2,423 Shares 4,910 Est. Cost $565.30 Unrealized -21.4%

CERT CERTARA INC 0.6%

Value ($000) $2,251 Shares 184,198 Est. Cost $13.15 Unrealized -21.7%

ALGN ALIGN TECHNOLOGY INC 0.6%

Value ($000) $1,997 Shares 15,948 Est. Cost $244.14 Unrealized -41.3%

VERX VERTEX INC 0.4%

Value ($000) $1,568 Shares 63,266 Est. Cost $28.97 Unrealized -25.3%

RLI RLI CORP 0.4%

Value ($000) $1,424 Shares 21,837 Est. Cost $71.34 Unrealized -13.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BRO	BROWN & BROWN INC	70,685	$6,630	1.9%	$97.18	-14.2%	—	115236101
MSCI	MSCI INC	11,428	$6,484	1.8%	$467.39	+19.8%	—	55354G100
NVT	NVENT ELECTRIC PLC	56,178	$5,541	1.6%	$60.98	+69.9%	—	G6700G107
COO	COOPER COS INC	64,156	$4,399	1.2%	$97.78	-23.4%	—	216648501
HOLX	HOLOGIC INC	63,554	$4,289	1.2%	$66.26	+10.3%	—	436440101
MANH	MANHATTAN ASSOCIATES INC	18,677	$3,828	1.1%	$211.48	-13.6%	—	562750109
POOL	POOL CORP	11,971	$3,712	1.0%	$354.66	-26.8%	—	73278L105
PAYC	PAYCOM SOFTWARE INC	14,113	$2,937	0.8%	$244.84	-27.7%	—	70432V102
H	HYATT HOTELS CORP	19,053	$2,704	0.8%	$145.36	+5.3%	—	448579102
ENTG	ENTEGRIS INC	28,053	$2,594	0.7%	$97.47	-11.0%	—	29362U104
SNPS	SYNOPSYS INC	4,910	$2,423	0.7%	$565.30	-21.4%	—	871607107
CERT	CERTARA INC	184,198	$2,251	0.6%	$13.15	-21.7%	—	15687V109
ALGN	ALIGN TECHNOLOGY INC	15,948	$1,997	0.6%	$244.14	-41.3%	—	016255101
VERX	VERTEX INC	63,266	$1,568	0.4%	$28.97	-25.3%	—	92538J106
RLI	RLI CORP	21,837	$1,424	0.4%	$71.34	-13.8%	—	749607107

Decreased Positions (38)

PTC PTC INC 8.9%

Value ($000) $31,615 (-25.7%) Shares 181,477 (-13.5%) Est. Cost $155.54 Unrealized +19.5%

FTNT FORTINET INC 9.5%

Value ($000) $33,965 (-20.0%) Shares 427,718 (-15.3%) Est. Cost $60.67 Unrealized +36.7%

BAM BROOKFIELD ASSET MANAGMT LTD 1.0%

Value ($000) $3,742 (-64.1%) Shares 71,367 (-61.1%) Est. Cost $33.56 Unrealized +59.3%

ADSK AUTODESK INC 2.1%

Value ($000) $7,371 (-46.8%) Shares 24,902 (-42.9%) Est. Cost $246.67 Unrealized +22.7%

RMD RESMED INC 5.0%

Value ($000) $17,876 (-21.9%) Shares 74,215 (-11.2%) Est. Cost $199.41 Unrealized +28.1%

HALO HALOZYME THERAPEUTICS INC 2.0%

Value ($000) $7,053 (-39.4%) Shares 104,801 (-34.0%) Est. Cost $46.18 Unrealized +45.7%

KLAC KLA CORP 1.3%

Value ($000) $4,629 (-45.5%) Shares 3,810 (-51.7%) Est. Cost $519.36 Unrealized +125.6%

KNSL KINSALE CAP GROUP INC 1.7%

Value ($000) $6,030 (-37.0%) Shares 15,417 (-31.5%) Est. Cost $295.79 Unrealized +37.8%

CSGP COSTAR GROUP INC 2.0%

Value ($000) $7,280 (-30.4%) Shares 108,267 (-12.7%) Est. Cost $78.57 Unrealized -9.8%

DXCM DEXCOM INC 1.7%

Value ($000) $5,961 (-34.5%) Shares 89,808 (-33.6%) Est. Cost $81.60 Unrealized -20.8%

NBIX NEUROCRINE BIOSCIENCES INC 1.2%

Value ($000) $4,168 (-41.5%) Shares 29,388 (-42.1%) Est. Cost $123.68 Unrealized +17.1%

IQV IQVIA HLDGS INC 1.9%

Value ($000) $6,693 (-30.2%) Shares 29,692 (-41.2%) Est. Cost $219.28 Unrealized -0.8%

RYAN RYAN SPECIALTY HOLDINGS INC 2.0%

Value ($000) $7,031 (-27.7%) Shares 136,186 (-21.1%) Est. Cost $52.68 Unrealized +4.1%

LH LABCORP HOLDINGS INC 0.9%

Value ($000) $3,379 (-43.6%) Shares 13,467 (-35.5%) Est. Cost $208.38 Unrealized +27.2%

ICE INTERCONTINENTAL EXCHANGE IN 11.8%

Value ($000) $42,059 (-5.6%) Shares 259,688 (-1.8%) Est. Cost $99.99 Unrealized +56.2%

LPLA LPL FINL HLDGS INC 1.1%

Value ($000) $3,942 (-37.9%) Shares 11,037 (-42.1%) Est. Cost $280.90 Unrealized +25.9%

PLNT PLANET FITNESS INC 2.1%

Value ($000) $7,602 (-23.9%) Shares 70,081 (-27.2%) Est. Cost $96.04 Unrealized +7.2%

EXLS EXLSERVICE HOLDINGS INC 1.1%

Value ($000) $4,033 (-35.2%) Shares 95,035 (-32.8%) Est. Cost $43.25 Unrealized -5.5%

DPZ DOMINOS PIZZA INC 1.0%

Value ($000) $3,728 (-35.0%) Shares 8,943 (-32.7%) Est. Cost $388.63 Unrealized +6.9%

TW TRADEWEB MKTS INC 0.8%

Value ($000) $3,033 (-39.6%) Shares 28,208 (-37.7%) Est. Cost $112.59 Unrealized -4.6%

CCC CCC INTELLIGENT SOLUTIONS HL 1.7%

Value ($000) $6,016 (-23.4%) Shares 756,778 (-12.2%) Est. Cost $10.67 Unrealized -23.8%

MELI MERCADOLIBRE INC 0.7%

Value ($000) $2,415 (-41.9%) Shares 1,199 (-32.6%) Est. Cost $1294.86 Unrealized +62.2%

KEYS KEYSIGHT TECHNOLOGIES INC 1.2%

Value ($000) $4,354 (-27.9%) Shares 21,428 (-38.0%) Est. Cost $165.11 Unrealized +12.4%

FWONK LIBERTY MEDIA CORP DEL 0.8%

Value ($000) $2,842 (-36.3%) Shares 28,849 (-32.5%) Est. Cost $66.36 Unrealized —

IT GARTNER INC 0.6%

Value ($000) $1,970 (-43.0%) Shares 7,808 (-40.6%) Est. Cost $327.87 Unrealized -26.6%

DLB DOLBY LABORATORIES INC 1.0%

Value ($000) $3,468 (-29.0%) Shares 54,009 (-20.0%) Est. Cost $77.92 Unrealized -14.6%

FERG FERGUSON ENTERPRISES INC 2.1%

Value ($000) $7,556 (-14.6%) Shares 33,941 (-13.8%) Est. Cost $196.52 Unrealized +21.1%

EW EDWARDS LIFESCIENCES CORP 10.2%

Value ($000) $36,582 (-3.3%) Shares 429,115 (-11.8%) Est. Cost $77.52 Unrealized +5.9%

TYL TYLER TECHNOLOGIES INC 0.7%

Value ($000) $2,358 (-32.7%) Shares 5,195 (-22.4%) Est. Cost $474.68 Unrealized +0.4%

RBC RBC BEARINGS INC 1.0%

Value ($000) $3,452 (-24.1%) Shares 7,698 (-34.0%) Est. Cost $314.17 Unrealized +34.8%

WCN WASTE CONNECTIONS INC 1.2%

Value ($000) $4,360 (-19.3%) Shares 24,864 (-19.1%) Est. Cost $181.96 Unrealized -5.0%

LYV LIVE NATION ENTERTAINMENT IN 1.2%

Value ($000) $4,252 (-18.0%) Shares 29,836 (-6.0%) Est. Cost $87.60 Unrealized +64.1%

CSL CARLISLE COS INC 0.8%

Value ($000) $2,955 (-23.2%) Shares 9,237 (-21.0%) Est. Cost $412.02 Unrealized -21.7%

AXP AMERICAN EXPRESS CO 1.2%

Value ($000) $4,240 (-15.8%) Shares 11,461 (-24.4%) Est. Cost $172.68 Unrealized +106.7%

ISRG INTUITIVE SURGICAL INC 1.1%

Value ($000) $4,065 (-15.6%) Shares 7,178 (-33.3%) Est. Cost $329.42 Unrealized +61.6%

TECH BIO-TECHNE CORP 0.6%

Value ($000) $2,053 (-22.8%) Shares 34,913 (-27.0%) Est. Cost $70.46 Unrealized -13.8%

SCI SERVICE CORP INTL 0.8%

Value ($000) $2,836 (-17.3%) Shares 36,374 (-11.8%) Est. Cost $66.21 Unrealized +20.8%

OS ONESTREAM INC 0.6%

Value ($000) $2,239 (-10.7%) Shares 121,825 (-10.4%) Est. Cost $24.90 Unrealized -23.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PTC	PTC INC	181,477 (-13.5%)	$31,615 (-25.7%)	8.9%	$155.54	+19.5%	COM	69370C100
FTNT	FORTINET INC	427,718 (-15.3%)	$33,965 (-20.0%)	9.5%	$60.67	+36.7%	COM	34959E109
BAM	BROOKFIELD ASSET MANAGMT LTD	71,367 (-61.1%)	$3,742 (-64.1%)	1.0%	$33.56	+59.3%	CL A LMT VTG SHS	113004105
ADSK	AUTODESK INC	24,902 (-42.9%)	$7,371 (-46.8%)	2.1%	$246.67	+22.7%	COM	052769106
RMD	RESMED INC	74,215 (-11.2%)	$17,876 (-21.9%)	5.0%	$199.41	+28.1%	COM	761152107
HALO	HALOZYME THERAPEUTICS INC	104,801 (-34.0%)	$7,053 (-39.4%)	2.0%	$46.18	+45.7%	COM	40637H109
KLAC	KLA CORP	3,810 (-51.7%)	$4,629 (-45.5%)	1.3%	$519.36	+125.6%	COM NEW	482480100
KNSL	KINSALE CAP GROUP INC	15,417 (-31.5%)	$6,030 (-37.0%)	1.7%	$295.79	+37.8%	COM	49714P108
CSGP	COSTAR GROUP INC	108,267 (-12.7%)	$7,280 (-30.4%)	2.0%	$78.57	-9.8%	COM	22160N109
DXCM	DEXCOM INC	89,808 (-33.6%)	$5,961 (-34.5%)	1.7%	$81.60	-20.8%	COM	252131107
NBIX	NEUROCRINE BIOSCIENCES INC	29,388 (-42.1%)	$4,168 (-41.5%)	1.2%	$123.68	+17.1%	COM	64125C109
IQV	IQVIA HLDGS INC	29,692 (-41.2%)	$6,693 (-30.2%)	1.9%	$219.28	-0.8%	COM	46266C105
RYAN	RYAN SPECIALTY HOLDINGS INC	136,186 (-21.1%)	$7,031 (-27.7%)	2.0%	$52.68	+4.1%	CL A	78351F107
LH	LABCORP HOLDINGS INC	13,467 (-35.5%)	$3,379 (-43.6%)	0.9%	$208.38	+27.2%	COM SHS	504922105
ICE	INTERCONTINENTAL EXCHANGE IN	259,688 (-1.8%)	$42,059 (-5.6%)	11.8%	$99.99	+56.2%	COM	45866F104
LPLA	LPL FINL HLDGS INC	11,037 (-42.1%)	$3,942 (-37.9%)	1.1%	$280.90	+25.9%	COM	50212V100
PLNT	PLANET FITNESS INC	70,081 (-27.2%)	$7,602 (-23.9%)	2.1%	$96.04	+7.2%	CL A	72703H101
EXLS	EXLSERVICE HOLDINGS INC	95,035 (-32.8%)	$4,033 (-35.2%)	1.1%	$43.25	-5.5%	COM	302081104
DPZ	DOMINOS PIZZA INC	8,943 (-32.7%)	$3,728 (-35.0%)	1.0%	$388.63	+6.9%	COM	25754A201
TW	TRADEWEB MKTS INC	28,208 (-37.7%)	$3,033 (-39.6%)	0.8%	$112.59	-4.6%	CL A	892672106
CCC	CCC INTELLIGENT SOLUTIONS HL	756,778 (-12.2%)	$6,016 (-23.4%)	1.7%	$10.67	-23.8%	COM	12510Q100
MELI	MERCADOLIBRE INC	1,199 (-32.6%)	$2,415 (-41.9%)	0.7%	$1294.86	+62.2%	COM	58733R102
KEYS	KEYSIGHT TECHNOLOGIES INC	21,428 (-38.0%)	$4,354 (-27.9%)	1.2%	$165.11	+12.4%	COM	49338L103
FWONK	LIBERTY MEDIA CORP DEL	28,849 (-32.5%)	$2,842 (-36.3%)	0.8%	$66.36	—	COM LBTY ONE S C	531229755
IT	GARTNER INC	7,808 (-40.6%)	$1,970 (-43.0%)	0.6%	$327.87	-26.6%	COM	366651107
DLB	DOLBY LABORATORIES INC	54,009 (-20.0%)	$3,468 (-29.0%)	1.0%	$77.92	-14.6%	COM CL A	25659T107
FERG	FERGUSON ENTERPRISES INC	33,941 (-13.8%)	$7,556 (-14.6%)	2.1%	$196.52	+21.1%	COMMON STOCK NEW	31488V107
EW	EDWARDS LIFESCIENCES CORP	429,115 (-11.8%)	$36,582 (-3.3%)	10.2%	$77.52	+5.9%	COM	28176E108
TYL	TYLER TECHNOLOGIES INC	5,195 (-22.4%)	$2,358 (-32.7%)	0.7%	$474.68	+0.4%	COM	902252105
RBC	RBC BEARINGS INC	7,698 (-34.0%)	$3,452 (-24.1%)	1.0%	$314.17	+34.8%	COM	75524B104
WCN	WASTE CONNECTIONS INC	24,864 (-19.1%)	$4,360 (-19.3%)	1.2%	$181.96	-5.0%	COM	94106B101
LYV	LIVE NATION ENTERTAINMENT IN	29,836 (-6.0%)	$4,252 (-18.0%)	1.2%	$87.60	+64.1%	COM	538034109
CSL	CARLISLE COS INC	9,237 (-21.0%)	$2,955 (-23.2%)	0.8%	$412.02	-21.7%	COM	142339100
AXP	AMERICAN EXPRESS CO	11,461 (-24.4%)	$4,240 (-15.8%)	1.2%	$172.68	+106.7%	COM	025816109
ISRG	INTUITIVE SURGICAL INC	7,178 (-33.3%)	$4,065 (-15.6%)	1.1%	$329.42	+61.6%	COM NEW	46120E602
TECH	BIO-TECHNE CORP	34,913 (-27.0%)	$2,053 (-22.8%)	0.6%	$70.46	-13.8%	COM	09073M104
SCI	SERVICE CORP INTL	36,374 (-11.8%)	$2,836 (-17.3%)	0.8%	$66.21	+20.8%	COM	817565104
OS	ONESTREAM INC	121,825 (-10.4%)	$2,239 (-10.7%)	0.6%	$24.90	-23.4%	CL A	68278B107