Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NDSN	NORDSON CORP	8,393	$2.532M	5.6%	$301.69	—	COM	655663102
DRAM	ROUNDHILL ETF TRUST	23,681	$1.749M	3.9%	$73.85	—	MEMORY ETF	77926X320
HWM	HOWMET AEROSPACE INC	6,074	$1.633M	3.6%	$268.86	—	COM	443201108
MOG/A	MOOG INC	3,828	$1.622M	3.6%	$423.84	—	CL A	615394202
BWA	BORGWARNER INC	23,145	$1.537M	3.4%	$66.40	—	COM	099724106
ALM	ALMONTY INDS INC	84,208	$1.394M	3.1%	$16.56	—	COM NEW	020398707
EZPW	EZCORP INC	34,470	$1.192M	2.6%	$34.57	—	CL A NON VTG	302301106
JBHT	HUNT J B TRANS SVCS INC	4,112	$1.19M	2.6%	$289.43	—	COM	445658107
TKR	TIMKEN CO	7,637	$1.11M	2.5%	$145.32	—	COM	887389104
NVDA	NVIDIA CORPORATION	5,041	$1.009M	2.2%	$200.09	—	COM	67066G104
AMZN	AMAZON COM INC	4,192	$999K	2.2%	$238.34	—	COM	023135106
NPO	ENPRO INC	2,650	$999K	2.2%	$376.93	—	COM	29355X107
DHI	D R HORTON INC	6,043	$984K	2.2%	$162.88	—	COM	23331A109
QXO	QXO INC	56,242	$972K	2.2%	$17.28	—	COM NEW	82846H405
QQQ	INVESCO QQQ TR	1,089	$802K	1.8%	$736.40	—	UNIT SER 1	46090E103
GE	GE AEROSPACE	2,141	$800K	1.8%	$373.73	—	COM NEW	369604301
AAOI	APPLIED OPTOELECTRONICS INC	4,826	$715K	1.6%	$148.16	—	COM	03823U102
MYRG	MYR GROUP INC	1,305	$653K	1.4%	$500.40	—	COM	55405W104
HUT	HUT 8 CORP	4,741	$547K	1.2%	$115.45	—	COM	44812J104
PH	PARKER-HANNIFIN CORP	547	$535K	1.2%	$978.12	—	COM	701094104
GM	GENERAL MTRS CO	6,724	$518K	1.1%	$77.08	—	COM	37045V100
CRS	CARPENTER TECHNOLOGY CORP	780	$481K	1.1%	$616.84	—	COM	144285103
WULF	TERAWULF INC	11,462	$283K	0.6%	$24.70	—	COM	88080T104

Increased Positions (3)

ETR ENTERGY CORP NEW 7.3%

Value $3.289M (+131.9%) Shares 28,634 (+126.8%) Est. Cost $107.15 Unrealized —

FIX COMFORT SYS USA INC 8.6%

Value $3.863M (+73.8%) Shares 1,949 (+20.9%) Est. Cost $702.38 Unrealized —

RBC RBC BEARINGS INC 6.2%

Value $2.81M (+44.0%) Shares 4,363 (+21.5%) Est. Cost $539.98 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ETR	ENTERGY CORP NEW	28,634 (+126.8%)	$3.289M (+131.9%)	7.3%	$107.15	—	COM	29364G103
FIX	COMFORT SYS USA INC	1,949 (+20.9%)	$3.863M (+73.8%)	8.6%	$702.38	—	COM	199908104
RBC	RBC BEARINGS INC	4,363 (+21.5%)	$2.81M (+44.0%)	6.2%	$539.98	—	COM	75524B104

Exited Positions (28)

HXL HEXCEL CORP NEW 6.2%

Value $2.776M Shares 34,298 Est. Cost $84.40 Unrealized —

JCI JOHNSON CONTROLS INTERNATION 5.3%

Value $2.401M Shares 18,338 Est. Cost $109.80 Unrealized —

XLE SELECT SECTOR SPDR TR 5.2%

Value $2.339M Shares 38,177 Est. Cost $61.26 Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 4.0%

Value $1.818M Shares 5,268 Est. Cost $343.14 Unrealized —

WM WASTE MGMT INC DEL 3.9%

Value $1.771M Shares 7,705 Est. Cost $226.07 Unrealized —

TEX TEREX CORP NEW 3.8%

Value $1.706M Shares 28,865 Est. Cost $62.32 Unrealized —

WWD WOODWARD INC 3.6%

Value $1.604M Shares 4,482 Est. Cost $353.24 Unrealized —

LMT LOCKHEED MARTIN CORP 3.5%

Value $1.576M Shares 2,607 Est. Cost $600.88 Unrealized —

CMI CUMMINS INC 3.3%

Value $1.505M Shares 2,797 Est. Cost $466.32 Unrealized —

ATMU ATMUS FILTRATION TECHNOLOGIE 3.1%

Value $1.411M Shares 24,846 Est. Cost $59.01 Unrealized —

IBP INSTALLED BLDG PRODS INC 2.9%

Value $1.286M Shares 4,850 Est. Cost $258.27 Unrealized —

GLW CORNING INC 2.8%

Value $1.242M Shares 9,134 Est. Cost $111.68 Unrealized —

FE FIRSTENERGY CORP 2.3%

Value $1.045M Shares 20,623 Est. Cost $47.09 Unrealized —

TOL TOLL BROTHERS INC 2.3%

Value $1.024M Shares 7,507 Est. Cost $132.18 Unrealized —

CNP CENTERPOINT ENERGY INC 2.3%

Value $1.023M Shares 23,711 Est. Cost $40.01 Unrealized —

RTX RTX CORPORATION 2.1%

Value $957K Shares 4,961 Est. Cost $196.61 Unrealized —

OSK OSHKOSH CORP 2.0%

Value $919K Shares 6,242 Est. Cost $158.03 Unrealized —

LFUS LITTELFUSE INC 1.9%

Value $875K Shares 2,579 Est. Cost $319.97 Unrealized —

SII SPROTT INC 1.8%

Value $813K Shares 5,690 Est. Cost $124.11 Unrealized —

WTTR SELECT WATER SOLUTIONS INC 1.7%

Value $782K Shares 51,089 Est. Cost $15.30 Unrealized —

CIEN CIENA CORP 1.3%

Value $580K Shares 1,493 Est. Cost $270.92 Unrealized —

TS TENARIS S A 1.2%

Value $552K Shares 9,483 Est. Cost $58.18 Unrealized —

XPO XPO INC 1.2%

Value $523K Shares 2,686 Est. Cost $120.73 Unrealized —

COHR COHERENT CORP 0.9%

Value $392K Shares 1,645 Est. Cost $213.35 Unrealized —

MLI MUELLER INDS INC 0.7%

Value $308K Shares 2,782 Est. Cost $107.37 Unrealized —

COPX GLOBAL X FDS 0.7%

Value $305K Shares 4,000 Est. Cost $76.35 Unrealized —

WDC WESTERN DIGITAL CORP 0.5%

Value $246K Shares 908 Est. Cost $151.55 Unrealized —

ULS UL SOLUTIONS INC 0.5%

Value $207K Shares 2,416 Est. Cost $75.83 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HXL	HEXCEL CORP NEW	34,298	$2.776M	6.2%	$84.40	—	—	428291108
JCI	JOHNSON CONTROLS INTERNATION	18,338	$2.401M	5.3%	$109.80	—	—	G51502105
XLE	SELECT SECTOR SPDR TR	38,177	$2.339M	5.2%	$61.26	—	—	81369Y506
LHX	L3HARRIS TECHNOLOGIES INC	5,268	$1.818M	4.0%	$343.14	—	—	502431109
WM	WASTE MGMT INC DEL	7,705	$1.771M	3.9%	$226.07	—	—	94106L109
TEX	TEREX CORP NEW	28,865	$1.706M	3.8%	$62.32	—	—	880779103
WWD	WOODWARD INC	4,482	$1.604M	3.6%	$353.24	—	—	980745103
LMT	LOCKHEED MARTIN CORP	2,607	$1.576M	3.5%	$600.88	—	—	539830109
CMI	CUMMINS INC	2,797	$1.505M	3.3%	$466.32	—	—	231021106
ATMU	ATMUS FILTRATION TECHNOLOGIE	24,846	$1.411M	3.1%	$59.01	—	—	04956D107
IBP	INSTALLED BLDG PRODS INC	4,850	$1.286M	2.9%	$258.27	—	—	45780R101
GLW	CORNING INC	9,134	$1.242M	2.8%	$111.68	—	—	219350105
FE	FIRSTENERGY CORP	20,623	$1.045M	2.3%	$47.09	—	—	337932107
TOL	TOLL BROTHERS INC	7,507	$1.024M	2.3%	$132.18	—	—	889478103
CNP	CENTERPOINT ENERGY INC	23,711	$1.023M	2.3%	$40.01	—	—	15189T107
RTX	RTX CORPORATION	4,961	$957K	2.1%	$196.61	—	—	75513E101
OSK	OSHKOSH CORP	6,242	$919K	2.0%	$158.03	—	—	688239201
LFUS	LITTELFUSE INC	2,579	$875K	1.9%	$319.97	—	—	537008104
SII	SPROTT INC	5,690	$813K	1.8%	$124.11	—	—	852066208
WTTR	SELECT WATER SOLUTIONS INC	51,089	$782K	1.7%	$15.30	—	—	81617J301
CIEN	CIENA CORP	1,493	$580K	1.3%	$270.92	—	—	171779309
TS	TENARIS S A	9,483	$552K	1.2%	$58.18	—	—	88031M109
XPO	XPO INC	2,686	$523K	1.2%	$120.73	—	—	983793100
COHR	COHERENT CORP	1,645	$392K	0.9%	$213.35	—	—	19247G107
MLI	MUELLER INDS INC	2,782	$308K	0.7%	$107.37	—	—	624756102
COPX	GLOBAL X FDS	4,000	$305K	0.7%	$76.35	—	—	37954Y830
WDC	WESTERN DIGITAL CORP	908	$246K	0.5%	$151.55	—	—	958102105
ULS	UL SOLUTIONS INC	2,416	$207K	0.5%	$75.83	—	—	903731107

Decreased Positions (8)

CLH CLEAN HARBORS INC 4.0%

Value $1.783M (-38.1%) Shares 5,968 (-40.6%) Est. Cost $263.20 Unrealized —

MTZ MASTEC INC 4.8%

Value $2.157M (-29.2%) Shares 5,184 (-45.3%) Est. Cost $250.19 Unrealized —

GVA GRANITE CONSTR INC 1.7%

Value $775K (-53.1%) Shares 4,903 (-64.4%) Est. Cost $125.58 Unrealized —

ATO ATMOS ENERGY CORP 2.5%

Value $1.108M (-43.8%) Shares 6,432 (-39.7%) Est. Cost $171.49 Unrealized —

ATI ATI INC 1.3%

Value $586K (-58.2%) Shares 2,974 (-69.2%) Est. Cost $117.63 Unrealized —

CAT CATERPILLAR INC 6.6%

Value $2.959M (+35.9%) Shares 2,779 (-9.6%) Est. Cost $425.39 Unrealized —

SNDK SANDISK CORP 0.9%

Value $402K (-22.7%) Shares 177 (-78.4%) Est. Cost $516.50 Unrealized —

KNX KNIGHT-SWIFT TRANSN HLDGS IN 2.4%

Value $1.097M (+3.0%) Shares 14,088 (-23.8%) Est. Cost $57.86 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CLH	CLEAN HARBORS INC	5,968 (-40.6%)	$1.783M (-38.1%)	4.0%	$263.20	—	COM	184496107
MTZ	MASTEC INC	5,184 (-45.3%)	$2.157M (-29.2%)	4.8%	$250.19	—	COM	576323109
GVA	GRANITE CONSTR INC	4,903 (-64.4%)	$775K (-53.1%)	1.7%	$125.58	—	COM	387328107
ATO	ATMOS ENERGY CORP	6,432 (-39.7%)	$1.108M (-43.8%)	2.5%	$171.49	—	COM	049560105
ATI	ATI INC	2,974 (-69.2%)	$586K (-58.2%)	1.3%	$117.63	—	COM	01741R102
CAT	CATERPILLAR INC	2,779 (-9.6%)	$2.959M (+35.9%)	6.6%	$425.39	—	COM	149123101
SNDK	SANDISK CORP	177 (-78.4%)	$402K (-22.7%)	0.9%	$516.50	—	COM	80004C200
KNX	KNIGHT-SWIFT TRANSN HLDGS IN	14,088 (-23.8%)	$1.097M (+3.0%)	2.4%	$57.86	—	CL A	499049104