Martin Capital Advisors, LLP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WSM	WILLIAMS SONOMA INC	24,435 (+1.6%)	$4,364 (-7.2%)	2.6%	$113.72	+64.6%	COM	969904101
LNTH	LANTHEUS HLDGS INC	14,166 (+9.2%)	$943 (+41.6%)	0.6%	$36.08	+61.3%	COM	516544103
EW	EDWARDS LIFESCIENCES CORP	26,076 (+1.4%)	$2,223 (+11.2%)	1.3%	$108.74	-24.5%	COM	28176E108
NFLX	NETFLIX INC	7,830 (+900.0%)	$734 (-21.8%)	0.4%	$105.31	+2.4%	COM	64110L106
TSCO	TRACTOR SUPPLY CO	38,689 (+3.5%)	$1,935 (-9.0%)	1.1%	$52.58	+2.2%	COM	892356106
IDXX	IDEXX LABS INC	4,159 (+1.1%)	$2,814 (+7.0%)	1.6%	$534.44	+27.4%	COM	45168D104
BLK	BLACKROCK INC	2,100 (+1.2%)	$2,248 (-7.1%)	1.3%	$962.54	+13.2%	COM	09290D101
AMAT	APPLIED MATLS INC	2,543 (+5.2%)	$654 (+32.0%)	0.4%	$133.69	+79.1%	COM	038222105
SCHW	SCHWAB CHARLES CORP	28,333 (+1.1%)	$2,831 (+5.8%)	1.7%	$75.40	+25.7%	COM	808513105
AMD	ADVANCED MICRO DEVICES INC	1,969 (+18.3%)	$422 (+56.6%)	0.2%	$126.79	+77.1%	COM	007903107
AMZN	AMAZON COM INC	10,508 (+1.2%)	$2,425 (+6.4%)	1.4%	$180.97	+26.4%	COM	023135106
TJX	TJX COS INC NEW	2,611 (+29.8%)	$401 (+38.0%)	0.2%	$135.82	+8.7%	COM	872540109
GDDY	GODADDY INC	9,082 (+1.5%)	$1,127 (-8.0%)	0.7%	$77.21	+67.6%	CL A	380237107
TXN	TEXAS INSTRS INC	11,358 (+1.4%)	$1,970 (-4.2%)	1.2%	$167.44	+2.0%	COM	882508104
AVGO	BROADCOM INC	1,363 (+10.3%)	$472 (+15.7%)	0.3%	$245.54	+45.4%	COM	11135F101
CMG	CHIPOTLE MEXICAN GRILL INC	39,822 (+1.9%)	$1,473 (-3.8%)	0.9%	$60.81	-40.5%	COM	169656105
PLTR	PALANTIR TECHNOLOGIES INC	3,408 (+12.5%)	$606 (+9.7%)	0.4%	$103.84	+74.3%	CL A	69608A108
TOL	TOLL BROTHERS INC	4,401 (+10.8%)	$595 (+8.5%)	0.3%	$90.57	+49.9%	COM	889478103
CBOE	CBOE GLOBAL MKTS INC	2,151 (+6.7%)	$540 (+9.2%)	0.3%	$162.33	+53.2%	COM	12503M108
NOW	SERVICENOW INC	2,000 (+440.5%)	$306 (-10.0%)	0.2%	$174.59	-1.7%	COM	81762P102
SYK	STRYKER CORPORATION	3,000 (+2.5%)	$1,054 (-2.5%)	0.6%	$262.05	+38.7%	COM	863667101
CRWD	CROWDSTRIKE HLDGS INC	1,897 (+3.5%)	$889 (-1.0%)	0.5%	$302.26	+68.5%	CL A	22788C105
ZTS	ZOETIS INC	1,824 (+12.0%)	$230 (-3.7%)	0.1%	$154.30	-15.6%	CL A	98978V103
PANW	PALO ALTO NETWORKS INC	1,609 (+8.8%)	$296 (-1.6%)	0.2%	$192.26	+4.9%	COM	697435105
ICE	INTERCONTINENTAL EXCHANGE IN	5,192 (+3.6%)	$841 (-0.4%)	0.5%	$127.93	+22.1%	COM	45866F104

Exited Positions (3)

DPZ DOMINOS PIZZA INC 0.1%

Value ($000) $216 Shares 499 Est. Cost $333.79 Unrealized +24.5%

IPGP IPG PHOTONICS CORP 0.1%

Value ($000) $206 Shares 2,601 Est. Cost $78.12 Unrealized +4.4%

IHI ISHARES TR 0.1%

Value ($000) $201 Shares 3,353 Est. Cost $59.23 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DPZ	DOMINOS PIZZA INC	499	$216	0.1%	$333.79	+24.5%	—	25754A201
IPGP	IPG PHOTONICS CORP	2,601	$206	0.1%	$78.12	+4.4%	—	44980X109
IHI	ISHARES TR	3,353	$201	0.1%	$59.23	—	—	464288810

Decreased Positions (7)

LRCX LAM RESEARCH CORP 2.9%

Value ($000) $4,946 (+26.1%) Shares 28,892 (-1.4%) Est. Cost $78.13 Unrealized +98.9%

TREX TREX CO INC 0.4%

Value ($000) $599 (-49.6%) Shares 17,081 (-25.8%) Est. Cost $112.91 Unrealized -64.2%

PYPL PAYPAL HLDGS INC 0.3%

Value ($000) $496 (-19.0%) Shares 8,498 (-7.0%) Est. Cost $194.65 Unrealized -66.7%

QQQ INVESCO QQQ TR 4.8%

Value ($000) $8,190 (+0.9%) Shares 13,332 (-1.4%) Est. Cost $381.31 Unrealized —

SBUX STARBUCKS CORP 1.6%

Value ($000) $2,730 (-2.1%) Shares 32,419 (-1.6%) Est. Cost $98.11 Unrealized -14.3%

VTI VANGUARD INDEX FDS 3.6%

Value ($000) $6,179 (-0.9%) Shares 18,430 (-3.0%) Est. Cost $239.51 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 1.3%

Value ($000) $2,221 (-2.0%) Shares 27,860 (-1.8%) Est. Cost $81.28 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LRCX	LAM RESEARCH CORP	28,892 (-1.4%)	$4,946 (+26.1%)	2.9%	$78.13	+98.9%	COM NEW	512807306
TREX	TREX CO INC	17,081 (-25.8%)	$599 (-49.6%)	0.4%	$112.91	-64.2%	COM	89531P105
PYPL	PAYPAL HLDGS INC	8,498 (-7.0%)	$496 (-19.0%)	0.3%	$194.65	-66.7%	COM	70450Y103
QQQ	INVESCO QQQ TR	13,332 (-1.4%)	$8,190 (+0.9%)	4.8%	$381.31	—	UNIT SER 1	46090E103
SBUX	STARBUCKS CORP	32,419 (-1.6%)	$2,730 (-2.1%)	1.6%	$98.11	-14.3%	COM	855244109
VTI	VANGUARD INDEX FDS	18,430 (-3.0%)	$6,179 (-0.9%)	3.6%	$239.51	—	TOTAL STK MKT	922908769
VCSH	VANGUARD SCOTTSDALE FDS	27,860 (-1.8%)	$2,221 (-2.0%)	1.3%	$81.28	—	SHRT TRM CORP BD	92206C409

Unchanged Positions (39)

ISRG INTUITIVE SURGICAL INC 6.7%

Value ($000) $11,360 Shares 20,058 Est. Cost $328.04 Unrealized +62.3%

AAPL APPLE INC 22.8%

Value ($000) $38,891 Shares 143,055 Est. Cost $155.14 Unrealized +73.0%

ORCL ORACLE CORP 1.9%

Value ($000) $3,287 Shares 16,865 Est. Cost $87.41 Unrealized +172.3%

GOOGL ALPHABET INC 2.8%

Value ($000) $4,817 Shares 15,389 Est. Cost $113.17 Unrealized +152.4%

GOOG ALPHABET INC 0.9%

Value ($000) $1,513 Shares 4,820 Est. Cost $111.27 Unrealized +157.3%

IBB ISHARES TR 1.4%

Value ($000) $2,366 Shares 14,019 Est. Cost $146.23 Unrealized —

COST COSTCO WHSL CORP NEW 2.3%

Value ($000) $3,932 Shares 4,560 Est. Cost $511.32 Unrealized +77.1%

XYZ BLOCK INC 1.2%

Value ($000) $2,064 Shares 31,711 Est. Cost $177.62 Unrealized -61.2%

CAT CATERPILLAR INC 0.7%

Value ($000) $1,209 Shares 2,111 Est. Cost $219.07 Unrealized +153.6%

DVA DAVITA INC 0.6%

Value ($000) $1,007 Shares 8,864 Est. Cost $103.59 Unrealized +17.4%

V VISA INC 2.4%

Value ($000) $4,097 Shares 11,683 Est. Cost $209.32 Unrealized +62.6%

NDAQ NASDAQ INC 0.8%

Value ($000) $1,319 Shares 13,580 Est. Cost $62.30 Unrealized +44.0%

CSCO CISCO SYS INC 0.6%

Value ($000) $1,004 Shares 13,037 Est. Cost $47.94 Unrealized +53.9%

DKS DICKS SPORTING GOODS INC 0.5%

Value ($000) $806 Shares 4,070 Est. Cost $107.90 Unrealized +101.2%

USPH U S PHYSICAL THERAPY 0.6%

Value ($000) $1,008 Shares 12,909 Est. Cost $100.38 Unrealized -19.2%

INTU INTUIT 2.2%

Value ($000) $3,806 Shares 5,745 Est. Cost $599.46 Unrealized +10.2%

LULU LULULEMON ATHLETICA INC 0.3%

Value ($000) $491 Shares 2,365 Est. Cost $418.38 Unrealized -56.7%

MORN MORNINGSTAR INC 0.5%

Value ($000) $913 Shares 4,202 Est. Cost $297.22 Unrealized -27.1%

INTC INTEL CORP 0.4%

Value ($000) $620 Shares 16,804 Est. Cost $45.59 Unrealized -17.2%

DHIL DIAMOND HILL INVT GROUP INC 0.2%

Value ($000) $321 Shares 1,891 Est. Cost $154.22 Unrealized -12.4%

DGX QUEST DIAGNOSTICS INC 0.3%

Value ($000) $546 Shares 3,145 Est. Cost $138.48 Unrealized +31.5%

GNRC GENERAC HLDGS INC 0.1%

Value ($000) $234 Shares 1,718 Est. Cost $112.77 Unrealized +43.1%

MA MASTERCARD INCORPORATED 3.3%

Value ($000) $5,636 Shares 9,873 Est. Cost $340.34 Unrealized +64.2%

MSFT MICROSOFT CORP 0.4%

Value ($000) $677 Shares 1,400 Est. Cost $422.35 Unrealized +18.5%

TPR TAPESTRY INC 0.2%

Value ($000) $410 Shares 3,210 Est. Cost $53.51 Unrealized +113.1%

EXP EAGLE MATLS INC 0.2%

Value ($000) $328 Shares 1,588 Est. Cost $124.31 Unrealized +77.4%

NVDA NVIDIA CORPORATION 7.7%

Value ($000) $13,148 Shares 70,498 Est. Cost $102.95 Unrealized +80.8%

BK BANK NEW YORK MELLON CORP 0.3%

Value ($000) $535 Shares 4,605 Est. Cost $39.25 Unrealized +181.5%

EBAY EBAY INC. 0.3%

Value ($000) $515 Shares 5,914 Est. Cost $38.98 Unrealized +121.6%

SPY SPDR S&P 500 ETF TR 0.6%

Value ($000) $953 Shares 1,397 Est. Cost $474.86 Unrealized —

LOW LOWES COS INC 0.3%

Value ($000) $437 Shares 1,814 Est. Cost $188.18 Unrealized +27.4%

IWV ISHARES TR 0.5%

Value ($000) $789 Shares 2,040 Est. Cost $277.62 Unrealized —

QCOM QUALCOMM INC 0.3%

Value ($000) $577 Shares 3,371 Est. Cost $139.52 Unrealized +22.4%

GLW CORNING INC 0.1%

Value ($000) $243 Shares 2,780 Est. Cost $64.97 Unrealized +32.3%

IJH ISHARES TR 0.3%

Value ($000) $526 Shares 7,975 Est. Cost $105.27 Unrealized —

ADBE ADOBE INC 0.4%

Value ($000) $712 Shares 2,034 Est. Cost $552.94 Unrealized -38.5%

IGSB ISHARES TR 0.1%

Value ($000) $209 Shares 3,960 Est. Cost $51.27 Unrealized —

TXRH TEXAS ROADHOUSE INC 0.2%

Value ($000) $321 Shares 1,936 Est. Cost $103.36 Unrealized +63.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.5%

Value ($000) $888 Shares 1,767 Est. Cost $333.77 Unrealized +49.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ISRG	INTUITIVE SURGICAL INC	20,058	$11,360	6.7%	$328.04	+62.3%	COM NEW	46120E602
AAPL	APPLE INC	143,055	$38,891	22.8%	$155.14	+73.0%	COM	037833100
ORCL	ORACLE CORP	16,865	$3,287	1.9%	$87.41	+172.3%	COM	68389X105
GOOGL	ALPHABET INC	15,389	$4,817	2.8%	$113.17	+152.4%	CAP STK CL A	02079K305
GOOG	ALPHABET INC	4,820	$1,513	0.9%	$111.27	+157.3%	CAP STK CL C	02079K107
IBB	ISHARES TR	14,019	$2,366	1.4%	$146.23	—	ISHARES BIOTECH	464287556
COST	COSTCO WHSL CORP NEW	4,560	$3,932	2.3%	$511.32	+77.1%	COM	22160K105
XYZ	BLOCK INC	31,711	$2,064	1.2%	$177.62	-61.2%	CL A	852234103
CAT	CATERPILLAR INC	2,111	$1,209	0.7%	$219.07	+153.6%	COM	149123101
DVA	DAVITA INC	8,864	$1,007	0.6%	$103.59	+17.4%	COM	23918K108
V	VISA INC	11,683	$4,097	2.4%	$209.32	+62.6%	COM CL A	92826C839
NDAQ	NASDAQ INC	13,580	$1,319	0.8%	$62.30	+44.0%	COM	631103108
CSCO	CISCO SYS INC	13,037	$1,004	0.6%	$47.94	+53.9%	COM	17275R102
DKS	DICKS SPORTING GOODS INC	4,070	$806	0.5%	$107.90	+101.2%	COM	253393102
USPH	U S PHYSICAL THERAPY	12,909	$1,008	0.6%	$100.38	-19.2%	COM	90337L108
INTU	INTUIT	5,745	$3,806	2.2%	$599.46	+10.2%	COM	461202103
LULU	LULULEMON ATHLETICA INC	2,365	$491	0.3%	$418.38	-56.7%	COM	550021109
MORN	MORNINGSTAR INC	4,202	$913	0.5%	$297.22	-27.1%	COM	617700109
INTC	INTEL CORP	16,804	$620	0.4%	$45.59	-17.2%	COM	458140100
DHIL	DIAMOND HILL INVT GROUP INC	1,891	$321	0.2%	$154.22	-12.4%	COM NEW	25264R207
DGX	QUEST DIAGNOSTICS INC	3,145	$546	0.3%	$138.48	+31.5%	COM	74834L100
GNRC	GENERAC HLDGS INC	1,718	$234	0.1%	$112.77	+43.1%	COM	368736104
MA	MASTERCARD INCORPORATED	9,873	$5,636	3.3%	$340.34	+64.2%	CL A	57636Q104
MSFT	MICROSOFT CORP	1,400	$677	0.4%	$422.35	+18.5%	COM	594918104
TPR	TAPESTRY INC	3,210	$410	0.2%	$53.51	+113.1%	COM	876030107
EXP	EAGLE MATLS INC	1,588	$328	0.2%	$124.31	+77.4%	COM	26969P108
NVDA	NVIDIA CORPORATION	70,498	$13,148	7.7%	$102.95	+80.8%	COM	67066G104
BK	BANK NEW YORK MELLON CORP	4,605	$535	0.3%	$39.25	+181.5%	COM	064058100
EBAY	EBAY INC.	5,914	$515	0.3%	$38.98	+121.6%	COM	278642103
SPY	SPDR S&P 500 ETF TR	1,397	$953	0.6%	$474.86	—	TR UNIT	78462F103
LOW	LOWES COS INC	1,814	$437	0.3%	$188.18	+27.4%	COM	548661107
IWV	ISHARES TR	2,040	$789	0.5%	$277.62	—	RUSSELL 3000 ETF	464287689
QCOM	QUALCOMM INC	3,371	$577	0.3%	$139.52	+22.4%	COM	747525103
GLW	CORNING INC	2,780	$243	0.1%	$64.97	+32.3%	COM	219350105
IJH	ISHARES TR	7,975	$526	0.3%	$105.27	—	CORE S&P MCP ETF	464287507
ADBE	ADOBE INC	2,034	$712	0.4%	$552.94	-38.5%	COM	00724F101
IGSB	ISHARES TR	3,960	$209	0.1%	$51.27	—	ISHS 1-5YR INVS	464288646
TXRH	TEXAS ROADHOUSE INC	1,936	$321	0.2%	$103.36	+63.3%	COM	882681109
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,767	$888	0.5%	$333.77	+49.1%	CL B NEW	084670702