Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EME	EMCOR GROUP INC	20,419	$16.95M	1.9%	$829.88	—	COM	29084Q100
EW	EDWARDS LIFESCIENCES CORP	101,132	$9.148M	1.0%	$90.46	—	COM	28176E108
BLK	BLACKROCK INC	6,356	$6.112M	0.7%	$961.56	—	COM	09290D101
NOW	SERVICENOW INC	57,016	$5.661M	0.6%	$99.28	—	COM	81762P102
EOG	EOG RES INC	35,469	$4.601M	0.5%	$129.73	—	COM	26875P101
AEM	AGNICO EAGLE MINES LTD	16,908	$3.726M	0.4%	$220.36	—	COM	008474108
SHOP	SHOPIFY INC	15,772	$2.559M	0.3%	$162.26	—	CL A SUB VTG SHS	82509L107
RTX	RTX CORPORATION	12,580	$2.387M	0.3%	$189.73	—	COM	75513E101
RDDT	REDDIT INC	10,987	$1.907M	0.2%	$173.58	—	CL A	75734B100

Increased Positions (39)

BKNG BOOKING HOLDINGS INC 2.4%

Value $21.33M (+2634.8%) Shares 119,693 (+2484.0%) Est. Cost $370.17 Unrealized —

LRCX LAM RESEARCH CORP 2.3%

Value $20.31M (+120.2%) Shares 46,861 (+8.6%) Est. Cost $242.29 Unrealized —

JNJ JOHNSON & JOHNSON 2.0%

Value $18.22M (+105.9%) Shares 71,734 (+98.1%) Est. Cost $240.80 Unrealized —

MNST MONSTER BEVERAGE CORP NEW 1.5%

Value $13.23M (+200.9%) Shares 137,613 (+126.8%) Est. Cost $89.29 Unrealized —

ANET ARISTA NETWORKS INC 2.7%

Value $23.9M (+43.9%) Shares 140,685 (+4.0%) Est. Cost $137.68 Unrealized —

ORCL ORACLE CORP 0.9%

Value $7.635M (+809.4%) Shares 52,095 (+812.8%) Est. Cost $149.08 Unrealized —

AMZN AMAZON COM INC 4.5%

Value $40.34M (+19.9%) Shares 169,248 (+4.7%) Est. Cost $229.22 Unrealized —

NVDA NVIDIA CORPORATION 5.2%

Value $46.16M (+16.8%) Shares 230,685 (+1.8%) Est. Cost $186.38 Unrealized —

CMI CUMMINS INC 2.8%

Value $25.31M (+34.5%) Shares 35,487 (+1.4%) Est. Cost $540.55 Unrealized —

AVGO BROADCOM INC 3.3%

Value $29.78M (+26.1%) Shares 78,832 (+3.3%) Est. Cost $357.67 Unrealized —

JPM JPMORGAN CHASE & CO 3.7%

Value $32.72M (+17.1%) Shares 99,954 (+5.2%) Est. Cost $312.12 Unrealized —

AAPL APPLE INC 3.1%

Value $27.28M (+17.9%) Shares 94,272 (+3.4%) Est. Cost $263.70 Unrealized —

V VISA INC 2.8%

Value $24.84M (+17.3%) Shares 72,397 (+3.4%) Est. Cost $335.51 Unrealized —

RACE FERRARI N V 3.0%

Value $26.93M (+13.4%) Shares 72,335 (+3.1%) Est. Cost $373.85 Unrealized —

MCK MCKESSON CORP 2.4%

Value $21.3M (-10.1%) Shares 28,186 (+3.0%) Est. Cost $813.85 Unrealized —

PEP PEPSICO INC 1.9%

Value $17.38M (-9.8%) Shares 128,327 (+3.5%) Est. Cost $154.09 Unrealized —

PM PHILIP MORRIS INTL INC 1.8%

Value $16.33M (+12.7%) Shares 90,285 (+3.0%) Est. Cost $154.36 Unrealized —

PAAS PAN AMERN SILVER CORP 0.3%

Value $2.542M (+146.1%) Shares 39,987 (+111.4%) Est. Cost $61.13 Unrealized —

KLAC KLA CORP 0.3%

Value $3.079M (+86.5%) Shares 10,204 (+810.3%) Est. Cost $397.31 Unrealized —

FAST FASTENAL CO 2.4%

Value $21.49M (+7.1%) Shares 447,468 (+3.5%) Est. Cost $44.40 Unrealized —

LIN LINDE PLC 2.5%

Value $22.24M (+6.3%) Shares 42,863 (+1.5%) Est. Cost $428.67 Unrealized —

CCJ CAMECO CORP 0.3%

Value $2.513M (+108.3%) Shares 17,385 (+56.5%) Est. Cost $126.49 Unrealized —

BKR BAKER HUGHES COMPANY 0.4%

Value $3.148M (+61.4%) Shares 56,729 (+77.6%) Est. Cost $51.86 Unrealized —

AU ANGLOGOLD ASHANTI PLC 0.3%

Value $2.743M (+60.5%) Shares 33,913 (+93.2%) Est. Cost $79.14 Unrealized —

PG PROCTER & GAMBLE CO 2.9%

Value $26.33M (+3.9%) Shares 179,544 (+2.3%) Est. Cost $151.65 Unrealized —

UNH UNITEDHEALTH GROUP INC 0.3%

Value $2.628M (+57.4%) Shares 6,323 (+2.5%) Est. Cost $339.09 Unrealized —

CAT CATERPILLAR INC 0.3%

Value $2.365M (+65.7%) Shares 2,221 (+10.2%) Est. Cost $602.75 Unrealized —

ABBV ABBVIE INC 0.3%

Value $2.688M (+43.8%) Shares 10,681 (+24.3%) Est. Cost $231.84 Unrealized —

MOS MOSAIC CO 0.3%

Value $2.294M (+53.6%) Shares 108,267 (+84.8%) Est. Cost $24.81 Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 0.3%

Value $2.33M (+43.2%) Shares 8,018 (+70.1%) Est. Cost $289.32 Unrealized —

SPGI S&P GLOBAL INC 1.3%

Value $11.57M (-5.5%) Shares 30,036 (+4.4%) Est. Cost $489.64 Unrealized —

EBAY EBAY INC. 0.2%

Value $1.896M (+54.0%) Shares 16,970 (+25.4%) Est. Cost $91.51 Unrealized —

IBKR INTERACTIVE BROKERS GROUP IN 0.2%

Value $2.217M (+39.0%) Shares 25,469 (+7.1%) Est. Cost $68.23 Unrealized —

COIN COINBASE GLOBAL INC 0.2%

Value $1.505M (+60.8%) Shares 10,294 (+92.0%) Est. Cost $219.30 Unrealized —

META META PLATFORMS INC 2.0%

Value $17.65M (+2.3%) Shares 31,330 (+3.9%) Est. Cost $663.43 Unrealized —

SYK STRYKER CORPORATION 1.0%

Value $9.137M (+4.1%) Shares 29,020 (+8.7%) Est. Cost $360.69 Unrealized —

XOM EXXON MOBIL CORP 0.4%

Value $3.208M (+9.4%) Shares 23,464 (+35.8%) Est. Cost $121.08 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.2%

Value $2.034M (+10.1%) Shares 17,434 (+38.0%) Est. Cost $143.84 Unrealized —

WM WASTE MGMT INC DEL 2.8%

Value $25.32M (+0.3%) Shares 113,585 (+3.4%) Est. Cost $219.04 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BKNG	BOOKING HOLDINGS INC	119,693 (+2484.0%)	$21.33M (+2634.8%)	2.4%	$370.17	—	COM	09857L108
LRCX	LAM RESEARCH CORP	46,861 (+8.6%)	$20.31M (+120.2%)	2.3%	$242.29	—	COM NEW	512807306
JNJ	JOHNSON & JOHNSON	71,734 (+98.1%)	$18.22M (+105.9%)	2.0%	$240.80	—	COM	478160104
MNST	MONSTER BEVERAGE CORP NEW	137,613 (+126.8%)	$13.23M (+200.9%)	1.5%	$89.29	—	COM	61174X109
ANET	ARISTA NETWORKS INC	140,685 (+4.0%)	$23.9M (+43.9%)	2.7%	$137.68	—	COM SHS	040413205
ORCL	ORACLE CORP	52,095 (+812.8%)	$7.635M (+809.4%)	0.9%	$149.08	—	COM	68389X105
AMZN	AMAZON COM INC	169,248 (+4.7%)	$40.34M (+19.9%)	4.5%	$229.22	—	COM	023135106
NVDA	NVIDIA CORPORATION	230,685 (+1.8%)	$46.16M (+16.8%)	5.2%	$186.38	—	COM	67066G104
CMI	CUMMINS INC	35,487 (+1.4%)	$25.31M (+34.5%)	2.8%	$540.55	—	COM	231021106
AVGO	BROADCOM INC	78,832 (+3.3%)	$29.78M (+26.1%)	3.3%	$357.67	—	COM	11135F101
JPM	JPMORGAN CHASE & CO	99,954 (+5.2%)	$32.72M (+17.1%)	3.7%	$312.12	—	COM	46625H100
AAPL	APPLE INC	94,272 (+3.4%)	$27.28M (+17.9%)	3.1%	$263.70	—	COM	037833100
V	VISA INC	72,397 (+3.4%)	$24.84M (+17.3%)	2.8%	$335.51	—	COM CL A	92826C839
RACE	FERRARI N V	72,335 (+3.1%)	$26.93M (+13.4%)	3.0%	$373.85	—	COM	N3167Y103
MCK	MCKESSON CORP	28,186 (+3.0%)	$21.3M (-10.1%)	2.4%	$813.85	—	COM	58155Q103
PEP	PEPSICO INC	128,327 (+3.5%)	$17.38M (-9.8%)	1.9%	$154.09	—	COM	713448108
PM	PHILIP MORRIS INTL INC	90,285 (+3.0%)	$16.33M (+12.7%)	1.8%	$154.36	—	COM	718172109
PAAS	PAN AMERN SILVER CORP	39,987 (+111.4%)	$2.542M (+146.1%)	0.3%	$61.13	—	COM	697900108
KLAC	KLA CORP	10,204 (+810.3%)	$3.079M (+86.5%)	0.3%	$397.31	—	COM NEW	482480100
FAST	FASTENAL CO	447,468 (+3.5%)	$21.49M (+7.1%)	2.4%	$44.40	—	COM	311900104
LIN	LINDE PLC	42,863 (+1.5%)	$22.24M (+6.3%)	2.5%	$428.67	—	SHS	G54950103
CCJ	CAMECO CORP	17,385 (+56.5%)	$2.513M (+108.3%)	0.3%	$126.49	—	COM	13321L108
BKR	BAKER HUGHES COMPANY	56,729 (+77.6%)	$3.148M (+61.4%)	0.4%	$51.86	—	CL A	05722G100
AU	ANGLOGOLD ASHANTI PLC	33,913 (+93.2%)	$2.743M (+60.5%)	0.3%	$79.14	—	COM SHS	G0378L100
PG	PROCTER & GAMBLE CO	179,544 (+2.3%)	$26.33M (+3.9%)	2.9%	$151.65	—	COM	742718109
UNH	UNITEDHEALTH GROUP INC	6,323 (+2.5%)	$2.628M (+57.4%)	0.3%	$339.09	—	COM	91324P102
CAT	CATERPILLAR INC	2,221 (+10.2%)	$2.365M (+65.7%)	0.3%	$602.75	—	COM	149123101
ABBV	ABBVIE INC	10,681 (+24.3%)	$2.688M (+43.8%)	0.3%	$231.84	—	COM	00287Y109
MOS	MOSAIC CO	108,267 (+84.8%)	$2.294M (+53.6%)	0.3%	$24.81	—	COM	61945C103
LHX	L3HARRIS TECHNOLOGIES INC	8,018 (+70.1%)	$2.33M (+43.2%)	0.3%	$289.32	—	COM	502431109
SPGI	S&P GLOBAL INC	30,036 (+4.4%)	$11.57M (-5.5%)	1.3%	$489.64	—	COM	78409V104
EBAY	EBAY INC.	16,970 (+25.4%)	$1.896M (+54.0%)	0.2%	$91.51	—	COM	278642103
IBKR	INTERACTIVE BROKERS GROUP IN	25,469 (+7.1%)	$2.217M (+39.0%)	0.2%	$68.23	—	COM CL A	45841N107
COIN	COINBASE GLOBAL INC	10,294 (+92.0%)	$1.505M (+60.8%)	0.2%	$219.30	—	COM CL A	19260Q107
META	META PLATFORMS INC	31,330 (+3.9%)	$17.65M (+2.3%)	2.0%	$663.43	—	CL A	30303M102
SYK	STRYKER CORPORATION	29,020 (+8.7%)	$9.137M (+4.1%)	1.0%	$360.69	—	COM	863667101
XOM	EXXON MOBIL CORP	23,464 (+35.8%)	$3.208M (+9.4%)	0.4%	$121.08	—	COM	30231G102
PLTR	PALANTIR TECHNOLOGIES INC	17,434 (+38.0%)	$2.034M (+10.1%)	0.2%	$143.84	—	CL A	69608A108
WM	WASTE MGMT INC DEL	113,585 (+3.4%)	$25.32M (+0.3%)	2.8%	$219.04	—	COM	94106L109

Exited Positions (5)

CBOE Cboe Global Markets Inc 3.3%

Value $29.59M Shares 105,268 Est. Cost $248.74 Unrealized —

RMD RESMED INC 0.8%

Value $7.076M Shares 31,523 Est. Cost $255.92 Unrealized —

ALLE Allegion plc 0.6%

Value $4.988M Shares 34,329 Est. Cost $166.68 Unrealized —

BABA Alibaba Group Holding Ltd 0.5%

Value $4.855M Shares 38,699 Est. Cost $146.58 Unrealized —

PDD PDD HOLDINGS INC 0.1%

Value $903K Shares 8,839 Est. Cost $102.18 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CBOE	Cboe Global Markets Inc	105,268	$29.59M	3.3%	$248.74	—	—	12503M108
RMD	RESMED INC	31,523	$7.076M	0.8%	$255.92	—	—	761152107
ALLE	Allegion plc	34,329	$4.988M	0.6%	$166.68	—	—	G0176J109
BABA	Alibaba Group Holding Ltd	38,699	$4.855M	0.5%	$146.58	—	—	01609W102
PDD	PDD HOLDINGS INC	8,839	$903K	0.1%	$102.18	—	—	722304102

Decreased Positions (9)

LMT LOCKHEED MARTIN CORP 2.8%

Value $25.23M (-17.7%) Shares 49,529 (-2.3%) Est. Cost $594.91 Unrealized —

UBER UBER TECHNOLOGIES INC 1.5%

Value $13.74M (-26.3%) Shares 190,438 (-26.5%) Est. Cost $90.05 Unrealized —

MPWR MONOLITHIC PWR SYS INC 0.8%

Value $6.711M (-36.8%) Shares 4,855 (-50.0%) Est. Cost $960.73 Unrealized —

GOOG ALPHABET INC 2.8%

Value $25.11M (-13.4%) Shares 71,078 (-29.7%) Est. Cost $286.33 Unrealized —

NFLX NETFLIX INC. 0.8%

Value $6.938M (-32.3%) Shares 97,175 (-8.8%) Est. Cost $83.84 Unrealized —

LLY ELI LILLY & CO 4.6%

Value $41.21M (+7.6%) Shares 34,361 (-17.5%) Est. Cost $955.55 Unrealized —

MSFT MICROSOFT CORP 4.0%

Value $35.55M (-3.9%) Shares 95,314 (-4.6%) Est. Cost $500.58 Unrealized —

CRWD CROWDSTRIKE HLDGS INC 0.1%

Value $825K (-54.6%) Shares 4,323 (-7.2%) Est. Cost $492.20 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 4.8%

Value $43.2M (+1.7%) Shares 90,448 (-28.0%) Est. Cost $303.89 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LMT	LOCKHEED MARTIN CORP	49,529 (-2.3%)	$25.23M (-17.7%)	2.8%	$594.91	—	COM	539830109
UBER	UBER TECHNOLOGIES INC	190,438 (-26.5%)	$13.74M (-26.3%)	1.5%	$90.05	—	COM	90353T100
MPWR	MONOLITHIC PWR SYS INC	4,855 (-50.0%)	$6.711M (-36.8%)	0.8%	$960.73	—	COM	609839105
GOOG	ALPHABET INC	71,078 (-29.7%)	$25.11M (-13.4%)	2.8%	$286.33	—	CAP STK CL C	02079K107
NFLX	NETFLIX INC.	97,175 (-8.8%)	$6.938M (-32.3%)	0.8%	$83.84	—	COM	64110L106
LLY	ELI LILLY & CO	34,361 (-17.5%)	$41.21M (+7.6%)	4.6%	$955.55	—	COM	532457108
MSFT	MICROSOFT CORP	95,314 (-4.6%)	$35.55M (-3.9%)	4.0%	$500.58	—	COM	594918104
CRWD	CROWDSTRIKE HLDGS INC	4,323 (-7.2%)	$825K (-54.6%)	0.1%	$492.20	—	CL A	22788C105
TSM	TAIWAN SEMICONDUCTOR MANUFAC	90,448 (-28.0%)	$43.2M (+1.7%)	4.8%	$303.89	—	SPONSORED ADS	874039100

Unchanged Positions (3)

GOOGL ALPHABET INC 3.5%

Value $31.26M Shares 87,475 Est. Cost $285.60 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 2.3%

Value $20.54M Shares 41,041 Est. Cost $497.53 Unrealized —

GILD GILEAD SCIENCES INC 0.7%

Value $6.386M Shares 50,544 Est. Cost $120.88 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	87,475	$31.26M	3.5%	$285.60	—	CAP STK CL A	02079K305
BRK/B	BERKSHIRE HATHAWAY INC DEL	41,041	$20.54M	2.3%	$497.53	—	CL B NEW	084670702
GILD	GILEAD SCIENCES INC	50,544	$6.386M	0.7%	$120.88	—	COM	375558103