Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HON	HONEYWELL INTL INC	48,145	$10.78M	0.4%	$223.90	—	COM	438516205
HONA	HONEYWELL AEROSPACE INC	48,145	$10.64M	0.3%	$221.08	—	COM	43849R105
FDXF	FEDEX FGHT HLDG CO INC	34,113	$5.151M	0.2%	$151.00	—	COMMON STOCK	314352105
HQY	HEALTHEQUITY INC	19,569	$1.767M	0.1%	$90.32	—	COM	42226A107
ABCB	AMERIS BANCORP	14,110	$1.274M	0.0%	$90.26	—	COM	03076K108
CCL	CARNIVAL CORP LTD	32,781	$937K	0.0%	$28.57	—	COMMON SHARES	G2004J103
PFGC	PERFORMANCE FOOD GROUP CO	5,830	$652K	0.0%	$111.79	—	COM	71377A103
ASND	ASCENDIS PHARMA A/S	2,082	$555K	0.0%	$266.72	—	ORD SHS	K08588103
NOK	NOKIA CORP	38,557	$512K	0.0%	$13.28	—	SPONSORED ADR	654902204
BR	BROADRIDGE FINL SOLUTIONS IN	3,738	$512K	0.0%	$136.95	—	COM	11133T103
QURE	UNIQURE NV	10,637	$490K	0.0%	$46.06	—	SHS	N90064101
YUMC	YUM CHINA HLDGS INC	11,674	$476K	0.0%	$40.75	—	COM	98850P109

Increased Positions (15)

SHEL SHELL PLC 0.8%

Value $25.07M (-15.0%) Shares 333,572 (+5.2%) Est. Cost $72.88 Unrealized —

NSIT INSIGHT ENTERPRISES INC 0.1%

Value $2.656M (+112.9%) Shares 21,810 (+17.1%) Est. Cost $124.45 Unrealized —

NXPI NXP SEMICONDUCTORS N V 0.1%

Value $2.001M (+199.0%) Shares 7,119 (+109.4%) Est. Cost $253.33 Unrealized —

RELX RELX PLC 0.1%

Value $1.632M (+84.7%) Shares 51,643 (+93.7%) Est. Cost $36.17 Unrealized —

TRMB TRIMBLE INC 0.1%

Value $3.274M (-16.0%) Shares 63,962 (+7.1%) Est. Cost $57.53 Unrealized —

SSD SIMPSON MFG INC 0.1%

Value $1.59M (+32.4%) Shares 7,596 (+8.5%) Est. Cost $175.86 Unrealized —

BALL BALL CORP 0.0%

Value $943K (+54.0%) Shares 15,105 (+45.9%) Est. Cost $53.92 Unrealized —

POOL POOL CORP 0.1%

Value $2.183M (+15.2%) Shares 10,160 (+8.5%) Est. Cost $235.58 Unrealized —

CDW CDW CORP 0.0%

Value $1.22M (+29.9%) Shares 8,674 (+11.8%) Est. Cost $131.09 Unrealized —

SAP SAP SE 0.0%

Value $1.072M (+21.3%) Shares 6,954 (+34.7%) Est. Cost $196.03 Unrealized —

SFM SPROUTS FMRS MKT INC 0.0%

Value $1.107M (+16.6%) Shares 13,087 (+6.3%) Est. Cost $73.10 Unrealized —

HLI HOULIHAN LOKEY INC 0.0%

Value $1.259M (+10.1%) Shares 9,387 (+17.9%) Est. Cost $169.31 Unrealized —

BLKB BLACKBAUD INC 0.0%

Value $996K (+10.9%) Shares 33,634 (+44.6%) Est. Cost $52.29 Unrealized —

AVY AVERY DENNISON CORP 0.1%

Value $3.537M (+2.8%) Shares 21,784 (+9.4%) Est. Cost $175.27 Unrealized —

JKHY HENRY JACK & ASSOC INC 0.1%

Value $1.544M (-0.8%) Shares 11,210 (+13.9%) Est. Cost $118.04 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SHEL	SHELL PLC	333,572 (+5.2%)	$25.07M (-15.0%)	0.8%	$72.88	—	SPON ADS	780259305
NSIT	INSIGHT ENTERPRISES INC	21,810 (+17.1%)	$2.656M (+112.9%)	0.1%	$124.45	—	COM	45765U103
NXPI	NXP SEMICONDUCTORS N V	7,119 (+109.4%)	$2.001M (+199.0%)	0.1%	$253.33	—	COM	N6596X109
RELX	RELX PLC	51,643 (+93.7%)	$1.632M (+84.7%)	0.1%	$36.17	—	SPONSORED ADR	759530108
TRMB	TRIMBLE INC	63,962 (+7.1%)	$3.274M (-16.0%)	0.1%	$57.53	—	COM	896239100
SSD	SIMPSON MFG INC	7,596 (+8.5%)	$1.59M (+32.4%)	0.1%	$175.86	—	COM	829073105
BALL	BALL CORP	15,105 (+45.9%)	$943K (+54.0%)	0.0%	$53.92	—	COM	058498106
POOL	POOL CORP	10,160 (+8.5%)	$2.183M (+15.2%)	0.1%	$235.58	—	COM	73278L105
CDW	CDW CORP	8,674 (+11.8%)	$1.22M (+29.9%)	0.0%	$131.09	—	COM	12514G108
SAP	SAP SE	6,954 (+34.7%)	$1.072M (+21.3%)	0.0%	$196.03	—	SPON ADR	803054204
SFM	SPROUTS FMRS MKT INC	13,087 (+6.3%)	$1.107M (+16.6%)	0.0%	$73.10	—	COM	85208M102
HLI	HOULIHAN LOKEY INC	9,387 (+17.9%)	$1.259M (+10.1%)	0.0%	$169.31	—	CL A	441593100
BLKB	BLACKBAUD INC	33,634 (+44.6%)	$996K (+10.9%)	0.0%	$52.29	—	COM	09227Q100
AVY	AVERY DENNISON CORP	21,784 (+9.4%)	$3.537M (+2.8%)	0.1%	$175.27	—	COM	053611109
JKHY	HENRY JACK & ASSOC INC	11,210 (+13.9%)	$1.544M (-0.8%)	0.1%	$118.04	—	COM	426281101

Exited Positions (12)

HON HONEYWELL INTL INC 1.1%

Value $32.58M Shares 144,151 Est. Cost $83.51 Unrealized —

COLB COLUMBIA BKG SYS INC 0.0%

Value $955K Shares 34,805 Est. Cost $23.46 Unrealized —

FERG FERGUSON ENTERPRISES INC 0.0%

Value $758K Shares 3,251 Est. Cost $224.73 Unrealized —

NU NU HLDGS LTD 0.0%

Value $739K Shares 51,405 Est. Cost $13.95 Unrealized —

CCL CARNIVAL CORP 0.0%

Value $712K Shares 27,494 Est. Cost $27.88 Unrealized —

MRK MERCK & CO INC 0.0%

Value $662K Shares 5,500 Est. Cost $51.09 Unrealized —

VTV VANGUARD INDEX FDS 0.0%

Value $603K Shares 3,075 Est. Cost $168.74 Unrealized —

COLM COLUMBIA SPORTSWEAR CO 0.0%

Value $577K Shares 10,518 Est. Cost $65.75 Unrealized —

ABBV ABBVIE INC 0.0%

Value $538K Shares 2,475 Est. Cost $80.93 Unrealized —

ABT ABBOTT LABORATORIES 0.0%

Value $438K Shares 4,266 Est. Cost $69.12 Unrealized —

XLRE SELECT SECTOR SPDR TR 0.0%

Value $273K Shares 6,675 Est. Cost $40.67 Unrealized —

EQR EQUITY RESIDENTIAL 0.0%

Value $207K Shares 3,500 Est. Cost $54.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HON	HONEYWELL INTL INC	144,151	$32.58M	1.1%	$83.51	—	—	438516106
COLB	COLUMBIA BKG SYS INC	34,805	$955K	0.0%	$23.46	—	—	197236102
FERG	FERGUSON ENTERPRISES INC	3,251	$758K	0.0%	$224.73	—	—	31488V107
NU	NU HLDGS LTD	51,405	$739K	0.0%	$13.95	—	—	G6683N103
CCL	CARNIVAL CORP	27,494	$712K	0.0%	$27.88	—	—	143658300
MRK	MERCK & CO INC	5,500	$662K	0.0%	$51.09	—	—	58933Y105
VTV	VANGUARD INDEX FDS	3,075	$603K	0.0%	$168.74	—	—	922908744
COLM	COLUMBIA SPORTSWEAR CO	10,518	$577K	0.0%	$65.75	—	—	198516106
ABBV	ABBVIE INC	2,475	$538K	0.0%	$80.93	—	—	00287Y109
ABT	ABBOTT LABORATORIES	4,266	$438K	0.0%	$69.12	—	—	002824100
XLRE	SELECT SECTOR SPDR TR	6,675	$273K	0.0%	$40.67	—	—	81369Y860
EQR	EQUITY RESIDENTIAL	3,500	$207K	0.0%	$54.27	—	—	29476L107

Decreased Positions (62)

AAPL APPLE INC 5.9%

Value $183M (+11.9%) Shares 631,639 (-1.8%) Est. Cost $85.07 Unrealized —

GOOG ALPHABET INC 3.2%

Value $99.19M (+20.8%) Shares 280,740 (-1.9%) Est. Cost $107.09 Unrealized —

CSCO CISCO SYS INC 1.4%

Value $41.8M (+47.8%) Shares 355,829 (-2.4%) Est. Cost $19.19 Unrealized —

IBB ISHARES TR 0.3%

Value $8.939M (-55.9%) Shares 47,000 (-60.8%) Est. Cost $168.85 Unrealized —

JPM JPMORGAN CHASE & CO 3.5%

Value $109M (+9.8%) Shares 332,564 (-1.4%) Est. Cost $50.69 Unrealized —

WMT WALMART INC 2.2%

Value $66.53M (-12.1%) Shares 587,385 (-3.6%) Est. Cost $48.61 Unrealized —

VRT VERTIV HOLDINGS CO 1.2%

Value $36.83M (+32.0%) Shares 110,000 (-1.2%) Est. Cost $82.73 Unrealized —

AMZN AMAZON COM INC 2.5%

Value $77.61M (+10.4%) Shares 325,629 (-3.6%) Est. Cost $118.56 Unrealized —

MCD MCDONALDS CORP 1.1%

Value $33.56M (-16.0%) Shares 124,169 (-3.4%) Est. Cost $93.96 Unrealized —

MDY STATE STR SPDR S&P MIDCAP 40 1.7%

Value $51.34M (+10.9%) Shares 73,000 (-2.7%) Est. Cost $262.72 Unrealized —

UNP UNION PAC CORP 1.5%

Value $45.06M (+9.7%) Shares 165,673 (-2.1%) Est. Cost $62.53 Unrealized —

ADP AUTOMATIC DATA PROCESSING IN 1.4%

Value $44.55M (+8.2%) Shares 198,912 (-1.9%) Est. Cost $68.25 Unrealized —

HD HOME DEPOT INC 1.4%

Value $42.42M (+6.2%) Shares 120,278 (-1.0%) Est. Cost $100.12 Unrealized —

AFL AFLAC INC 1.3%

Value $38.81M (+5.0%) Shares 331,000 (-1.8%) Est. Cost $31.84 Unrealized —

CASY CASEYS GEN STORES INC 0.1%

Value $1.733M (-49.1%) Shares 2,180 (-53.4%) Est. Cost $222.25 Unrealized —

BA BOEING CO 0.8%

Value $25.59M (+6.3%) Shares 118,228 (-2.3%) Est. Cost $111.87 Unrealized —

BLK BLACKROCK INC 2.1%

Value $63.48M (-2.1%) Shares 66,015 (-2.0%) Est. Cost $991.05 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.2%

Value $4.845M (+34.4%) Shares 10,144 (-4.9%) Est. Cost $176.45 Unrealized —

BAH BOOZ ALLEN HAMILTON HLDG COR 0.0%

Value $458K (-72.3%) Shares 7,556 (-64.4%) Est. Cost $94.26 Unrealized —

ORCL ORACLE CORP 1.4%

Value $43.29M (-2.4%) Shares 295,419 (-2.1%) Est. Cost $31.95 Unrealized —

LKQ LKQ CORP 0.0%

Value $1.386M (-36.4%) Shares 52,646 (-29.1%) Est. Cost $38.72 Unrealized —

ASX ASE TECHNOLOGY HLDG CO LTD 0.1%

Value $3.192M (+32.2%) Shares 70,744 (-36.5%) Est. Cost $16.10 Unrealized —

ARMK ARAMARK 0.1%

Value $3.732M (+19.7%) Shares 65,595 (-14.7%) Est. Cost $21.30 Unrealized —

GGG GRACO INC 0.0%

Value $1.036M (-34.2%) Shares 13,703 (-26.3%) Est. Cost $34.83 Unrealized —

EMR EMERSON ELEC CO 0.4%

Value $11.67M (+4.8%) Shares 81,500 (-4.1%) Est. Cost $85.92 Unrealized —

WEX WEX INC 0.1%

Value $1.885M (-21.1%) Shares 13,362 (-14.4%) Est. Cost $129.07 Unrealized —

AMG AFFILIATED MANAGERS GROUP 0.1%

Value $3.641M (+14.0%) Shares 10,760 (-6.8%) Est. Cost $94.14 Unrealized —

ULTA ULTA BEAUTY INC 0.0%

Value $1.173M (-27.0%) Shares 2,602 (-15.4%) Est. Cost $297.01 Unrealized —

GDDY GODADDY INC 0.1%

Value $2.58M (-13.5%) Shares 30,400 (-15.7%) Est. Cost $92.55 Unrealized —

TECH BIO-TECHNE CORP 0.1%

Value $2.787M (+16.2%) Shares 39,448 (-14.1%) Est. Cost $63.49 Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC 0.1%

Value $3.13M (+14.0%) Shares 35,322 (-2.0%) Est. Cost $47.08 Unrealized —

LII LENNOX INTL INC 0.1%

Value $2.768M (+15.5%) Shares 4,831 (-6.4%) Est. Cost $188.28 Unrealized —

KNSL KINSALE CAP GROUP INC 0.0%

Value $1.096M (-24.4%) Shares 3,324 (-21.7%) Est. Cost $401.27 Unrealized —

SCI SERVICE CORP INTL 0.0%

Value $1.369M (-19.9%) Shares 18,028 (-13.0%) Est. Cost $44.79 Unrealized —

COST COSTCO WHOLESALE CORPORATION 0.0%

Value $992K (-24.3%) Shares 1,060 (-19.3%) Est. Cost $965.28 Unrealized —

NVST ENVISTA HOLDINGS CORPORATION 0.0%

Value $1.143M (-19.6%) Shares 43,387 (-22.6%) Est. Cost $26.01 Unrealized —

JBHT HUNT J B TRANS SVCS INC 0.1%

Value $1.712M (-13.5%) Shares 5,916 (-36.6%) Est. Cost $81.17 Unrealized —

CSL CARLISLE COS INC 0.2%

Value $5.127M (-4.9%) Shares 14,134 (-12.5%) Est. Cost $122.92 Unrealized —

ICLR ICON PUB LTD CO 0.0%

Value $782K (+49.2%) Shares 4,500 (-4.9%) Est. Cost $178.08 Unrealized —

SEIC SEI INVTS CO 0.1%

Value $3.153M (-6.8%) Shares 35,944 (-16.6%) Est. Cost $43.67 Unrealized —

MDLZ MONDELEZ INTL INC 0.5%

Value $14.17M (-1.5%) Shares 245,000 (-1.9%) Est. Cost $32.41 Unrealized —

ARGX ARGENX SE 0.0%

Value $1.16M (-14.7%) Shares 1,250 (-32.9%) Est. Cost $608.31 Unrealized —

PBR PETROLEO BRASILEIRO S A 0.0%

Value $603K (-24.6%) Shares 37,300 (-3.2%) Est. Cost $11.85 Unrealized —

BLD TOPBUILD COR 0.0%

Value $889K (-14.3%) Shares 2,508 (-15.0%) Est. Cost $428.74 Unrealized —

TRU TRANSUNION 0.1%

Value $2.762M (-4.8%) Shares 38,291 (-8.7%) Est. Cost $70.48 Unrealized —

CHH CHOICE HOTELS INTL INC 0.1%

Value $2.176M (-6.0%) Shares 19,730 (-11.8%) Est. Cost $84.70 Unrealized —

PB PROSPERITY BANCSHARES INC 0.0%

Value $932K (-10.6%) Shares 12,756 (-17.7%) Est. Cost $53.03 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 1.3%

Value $40.5M (-0.3%) Shares 80,779 (-2.2%) Est. Cost $143.49 Unrealized —

CIB GRUPO CIBEST SA 0.0%

Value $1.102M (+6.7%) Shares 13,869 (-2.2%) Est. Cost $63.61 Unrealized —

SAIA SAIA INC 0.1%

Value $1.993M (+3.6%) Shares 4,731 (-13.6%) Est. Cost $314.27 Unrealized —

CNI CANADIAN NATL RY CO 0.0%

Value $712K (+9.9%) Shares 5,967 (-5.3%) Est. Cost $109.41 Unrealized —

MANH MANHATTAN ASSOCIATES INC 0.1%

Value $2.411M (-2.3%) Shares 17,316 (-6.6%) Est. Cost $135.54 Unrealized —

CAE CAE INC 0.0%

Value $680K (-7.1%) Shares 27,119 (-3.4%) Est. Cost $28.05 Unrealized —

WRB BERKLEY W R CORP 0.1%

Value $3.505M (+1.2%) Shares 49,688 (-4.9%) Est. Cost $37.50 Unrealized —

RPM RPM INTL INC 0.1%

Value $2.767M (+1.4%) Shares 24,894 (-9.3%) Est. Cost $63.67 Unrealized —

RIO RIO TINTO PLC 0.0%

Value $667K (-5.0%) Shares 7,031 (-6.6%) Est. Cost $80.03 Unrealized —

EG EVEREST GROUP LTD 0.0%

Value $508K (+5.8%) Shares 1,421 (-3.2%) Est. Cost $330.24 Unrealized —

NDSN NORDSON CORP 0.1%

Value $2.203M (+1.3%) Shares 7,301 (-10.7%) Est. Cost $139.16 Unrealized —

ABEV AMBEV SA 0.0%

Value $543K (+2.5%) Shares 172,958 (-4.7%) Est. Cost $2.47 Unrealized —

HDB HDFC BANK LTD 0.0%

Value $393K (-3.0%) Shares 15,199 (-6.6%) Est. Cost $36.54 Unrealized —

BIDU BAIDU INC 0.0%

Value $588K (-1.4%) Shares 5,146 (-3.9%) Est. Cost $130.66 Unrealized —

JLL JONES LANG LASALLE INC 0.1%

Value $3.264M (-0.2%) Shares 10,531 (-2.0%) Est. Cost $148.45 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	631,639 (-1.8%)	$183M (+11.9%)	5.9%	$85.07	—	COM	037833100
GOOG	ALPHABET INC	280,740 (-1.9%)	$99.19M (+20.8%)	3.2%	$107.09	—	CAP STK CL C	02079K107
CSCO	CISCO SYS INC	355,829 (-2.4%)	$41.8M (+47.8%)	1.4%	$19.19	—	COM	17275R102
IBB	ISHARES TR	47,000 (-60.8%)	$8.939M (-55.9%)	0.3%	$168.85	—	ISHARES BIOTECH	464287556
JPM	JPMORGAN CHASE & CO	332,564 (-1.4%)	$109M (+9.8%)	3.5%	$50.69	—	COM	46625H100
WMT	WALMART INC	587,385 (-3.6%)	$66.53M (-12.1%)	2.2%	$48.61	—	COM	931142103
VRT	VERTIV HOLDINGS CO	110,000 (-1.2%)	$36.83M (+32.0%)	1.2%	$82.73	—	COM CL A	92537N108
AMZN	AMAZON COM INC	325,629 (-3.6%)	$77.61M (+10.4%)	2.5%	$118.56	—	COM	023135106
MCD	MCDONALDS CORP	124,169 (-3.4%)	$33.56M (-16.0%)	1.1%	$93.96	—	COM	580135101
MDY	STATE STR SPDR S&P MIDCAP 40	73,000 (-2.7%)	$51.34M (+10.9%)	1.7%	$262.72	—	UTSER1 S&PDCRP	78467Y107
UNP	UNION PAC CORP	165,673 (-2.1%)	$45.06M (+9.7%)	1.5%	$62.53	—	COM	907818108
ADP	AUTOMATIC DATA PROCESSING IN	198,912 (-1.9%)	$44.55M (+8.2%)	1.4%	$68.25	—	COM	053015103
HD	HOME DEPOT INC	120,278 (-1.0%)	$42.42M (+6.2%)	1.4%	$100.12	—	COM	437076102
AFL	AFLAC INC	331,000 (-1.8%)	$38.81M (+5.0%)	1.3%	$31.84	—	COM	001055102
CASY	CASEYS GEN STORES INC	2,180 (-53.4%)	$1.733M (-49.1%)	0.1%	$222.25	—	COM	147528103
BA	BOEING CO	118,228 (-2.3%)	$25.59M (+6.3%)	0.8%	$111.87	—	COM	097023105
BLK	BLACKROCK INC	66,015 (-2.0%)	$63.48M (-2.1%)	2.1%	$991.05	—	COM	09290D101
TSM	TAIWAN SEMICONDUCTOR MANUFAC	10,144 (-4.9%)	$4.845M (+34.4%)	0.2%	$176.45	—	SPONSORED ADS	874039100
BAH	BOOZ ALLEN HAMILTON HLDG COR	7,556 (-64.4%)	$458K (-72.3%)	0.0%	$94.26	—	CL A	099502106
ORCL	ORACLE CORP	295,419 (-2.1%)	$43.29M (-2.4%)	1.4%	$31.95	—	COM	68389X105
LKQ	LKQ CORP	52,646 (-29.1%)	$1.386M (-36.4%)	0.0%	$38.72	—	COM	501889208
ASX	ASE TECHNOLOGY HLDG CO LTD	70,744 (-36.5%)	$3.192M (+32.2%)	0.1%	$16.10	—	SPONSORED ADS	00215W100
ARMK	ARAMARK	65,595 (-14.7%)	$3.732M (+19.7%)	0.1%	$21.30	—	COM	03852U106
GGG	GRACO INC	13,703 (-26.3%)	$1.036M (-34.2%)	0.0%	$34.83	—	COM	384109104
EMR	EMERSON ELEC CO	81,500 (-4.1%)	$11.67M (+4.8%)	0.4%	$85.92	—	COM	291011104
WEX	WEX INC	13,362 (-14.4%)	$1.885M (-21.1%)	0.1%	$129.07	—	COM	96208T104
AMG	AFFILIATED MANAGERS GROUP	10,760 (-6.8%)	$3.641M (+14.0%)	0.1%	$94.14	—	COM	008252108
ULTA	ULTA BEAUTY INC	2,602 (-15.4%)	$1.173M (-27.0%)	0.0%	$297.01	—	COM	90384S303
GDDY	GODADDY INC	30,400 (-15.7%)	$2.58M (-13.5%)	0.1%	$92.55	—	CL A	380237107
TECH	BIO-TECHNE CORP	39,448 (-14.1%)	$2.787M (+16.2%)	0.1%	$63.49	—	COM	09073M104
SOLS	SOLSTICE ADVANCED MATLS INC	35,322 (-2.0%)	$3.13M (+14.0%)	0.1%	$47.08	—	COM SHS	83443Q103
LII	LENNOX INTL INC	4,831 (-6.4%)	$2.768M (+15.5%)	0.1%	$188.28	—	COM	526107107
KNSL	KINSALE CAP GROUP INC	3,324 (-21.7%)	$1.096M (-24.4%)	0.0%	$401.27	—	COM	49714P108
SCI	SERVICE CORP INTL	18,028 (-13.0%)	$1.369M (-19.9%)	0.0%	$44.79	—	COM	817565104
COST	COSTCO WHOLESALE CORPORATION	1,060 (-19.3%)	$992K (-24.3%)	0.0%	$965.28	—	COM	22160K105
NVST	ENVISTA HOLDINGS CORPORATION	43,387 (-22.6%)	$1.143M (-19.6%)	0.0%	$26.01	—	COM	29415F104
JBHT	HUNT J B TRANS SVCS INC	5,916 (-36.6%)	$1.712M (-13.5%)	0.1%	$81.17	—	COM	445658107
CSL	CARLISLE COS INC	14,134 (-12.5%)	$5.127M (-4.9%)	0.2%	$122.92	—	COM	142339100
ICLR	ICON PUB LTD CO	4,500 (-4.9%)	$782K (+49.2%)	0.0%	$178.08	—	SHS	G4705A100
SEIC	SEI INVTS CO	35,944 (-16.6%)	$3.153M (-6.8%)	0.1%	$43.67	—	COM	784117103
MDLZ	MONDELEZ INTL INC	245,000 (-1.9%)	$14.17M (-1.5%)	0.5%	$32.41	—	CL A	609207105
ARGX	ARGENX SE	1,250 (-32.9%)	$1.16M (-14.7%)	0.0%	$608.31	—	SPONSORED ADR	04016X101
PBR	PETROLEO BRASILEIRO S A	37,300 (-3.2%)	$603K (-24.6%)	0.0%	$11.85	—	SPONSORED ADR	71654V408
BLD	TOPBUILD COR	2,508 (-15.0%)	$889K (-14.3%)	0.0%	$428.74	—	COM	89055F103
TRU	TRANSUNION	38,291 (-8.7%)	$2.762M (-4.8%)	0.1%	$70.48	—	COM	89400J107
CHH	CHOICE HOTELS INTL INC	19,730 (-11.8%)	$2.176M (-6.0%)	0.1%	$84.70	—	COM	169905106
PB	PROSPERITY BANCSHARES INC	12,756 (-17.7%)	$932K (-10.6%)	0.0%	$53.03	—	COM	743606105
TMO	THERMO FISHER SCIENTIFIC INC	80,779 (-2.2%)	$40.5M (-0.3%)	1.3%	$143.49	—	COM	883556102
CIB	GRUPO CIBEST SA	13,869 (-2.2%)	$1.102M (+6.7%)	0.0%	$63.61	—	SPON ADS	40090E106
SAIA	SAIA INC	4,731 (-13.6%)	$1.993M (+3.6%)	0.1%	$314.27	—	COM	78709Y105
CNI	CANADIAN NATL RY CO	5,967 (-5.3%)	$712K (+9.9%)	0.0%	$109.41	—	COM	136375102
MANH	MANHATTAN ASSOCIATES INC	17,316 (-6.6%)	$2.411M (-2.3%)	0.1%	$135.54	—	COM	562750109
CAE	CAE INC	27,119 (-3.4%)	$680K (-7.1%)	0.0%	$28.05	—	COM	124765108
WRB	BERKLEY W R CORP	49,688 (-4.9%)	$3.505M (+1.2%)	0.1%	$37.50	—	COM	084423102
RPM	RPM INTL INC	24,894 (-9.3%)	$2.767M (+1.4%)	0.1%	$63.67	—	COM	749685103
RIO	RIO TINTO PLC	7,031 (-6.6%)	$667K (-5.0%)	0.0%	$80.03	—	SPONSORED ADR	767204100
EG	EVEREST GROUP LTD	1,421 (-3.2%)	$508K (+5.8%)	0.0%	$330.24	—	COM	G3223R108
NDSN	NORDSON CORP	7,301 (-10.7%)	$2.203M (+1.3%)	0.1%	$139.16	—	COM	655663102
ABEV	AMBEV SA	172,958 (-4.7%)	$543K (+2.5%)	0.0%	$2.47	—	SPONSORED ADR	02319V103
HDB	HDFC BANK LTD	15,199 (-6.6%)	$393K (-3.0%)	0.0%	$36.54	—	SPONSORED ADS	40415F101
BIDU	BAIDU INC	5,146 (-3.9%)	$588K (-1.4%)	0.0%	$130.66	—	SPON ADR REP A	056752108
JLL	JONES LANG LASALLE INC	10,531 (-2.0%)	$3.264M (-0.2%)	0.1%	$148.45	—	COM	48020Q107

Unchanged Positions (71)

AMAT APPLIED MATLS INC 4.0%

Value $124M Shares 171,300 Est. Cost $131.29 Unrealized —

MRVL MARVELL TECHNOLOGY INC 2.3%

Value $71.01M Shares 238,382 Est. Cost $40.30 Unrealized —

PANW PALO ALTO NETWORKS INC 2.6%

Value $81.03M Shares 237,620 Est. Cost $144.38 Unrealized —

LLY ELI LILLY & CO 4.6%

Value $141M Shares 117,176 Est. Cost $63.98 Unrealized —

NVDA NVIDIA CORPORATION 6.7%

Value $207M Shares 1,034,047 Est. Cost $92.83 Unrealized —

GE GE AEROSPACE 3.0%

Value $92.69M Shares 248,000 Est. Cost $62.01 Unrealized —

GOOGL ALPHABET INC 3.3%

Value $100M Shares 280,000 Est. Cost $106.46 Unrealized —

GEV GE VERNOVA INC 2.4%

Value $72.84M Shares 62,000 Est. Cost $158.10 Unrealized —

CAT CATERPILLAR INC 1.5%

Value $46.83M Shares 43,975 Est. Cost $341.77 Unrealized —

VTWO VANGUARD SCOTTSDALE FDS 2.3%

Value $70.67M Shares 582,050 Est. Cost $99.33 Unrealized —

XOM EXXON MOBIL CORP 1.6%

Value $48.13M Shares 352,025 Est. Cost $65.71 Unrealized —

EUSA ISHARES INC 2.9%

Value $88.15M Shares 772,000 Est. Cost $92.09 Unrealized —

SHLD GLOBAL X FDS 1.5%

Value $45.32M Shares 759,000 Est. Cost $46.55 Unrealized —

CDNS CADENCE DESIGN SYSTEM INC 0.9%

Value $26.46M Shares 70,500 Est. Cost $257.92 Unrealized —

CRM SALESFORCE INC 1.1%

Value $33.84M Shares 216,000 Est. Cost $68.84 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 1.6%

Value $49.65M Shares 592,813 Est. Cost $71.37 Unrealized —

MAR MARRIOTT INTL INC NEW 1.3%

Value $40.39M Shares 109,000 Est. Cost $167.15 Unrealized —

C CITIGROUP INC 0.8%

Value $24.35M Shares 174,000 Est. Cost $56.00 Unrealized —

AXP AMERICAN EXPRESS CO 1.1%

Value $33.25M Shares 98,305 Est. Cost $148.45 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.8%

Value $25.49M Shares 34,135 Est. Cost $244.60 Unrealized —

FDX FEDEX CORP 0.7%

Value $21.36M Shares 68,227 Est. Cost $119.20 Unrealized —

V VISA INC 0.8%

Value $23.83M Shares 69,467 Est. Cost $202.55 Unrealized —

PEP PEPSICO INC 0.6%

Value $17.69M Shares 130,666 Est. Cost $73.87 Unrealized —

SBUX STARBUCKS CORP 0.7%

Value $20.47M Shares 200,353 Est. Cost $47.75 Unrealized —

DOV DOVER CORP 0.9%

Value $27.82M Shares 124,025 Est. Cost $133.68 Unrealized —

KO COCA COLA CO 0.9%

Value $27.05M Shares 332,797 Est. Cost $33.44 Unrealized —

SPHQ INVESCO EXCHANGE TRADED FD T 0.3%

Value $9.01M Shares 100,000 Est. Cost $30.01 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.8%

Value $25.85M Shares 51,650 Est. Cost $205.34 Unrealized —

META META PLATFORMS INC 2.1%

Value $65M Shares 115,400 Est. Cost $104.78 Unrealized —

MPC MARATHON PETE CORP 0.7%

Value $20.09M Shares 78,589 Est. Cost $35.83 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.3%

Value $8.954M Shares 150,000 Est. Cost $40.98 Unrealized —

ASML ASML HLDG NV 0.1%

Value $2.029M Shares 1,020 Est. Cost $695.01 Unrealized —

CACI CACI INTL INC 0.1%

Value $3.786M Shares 8,172 Est. Cost $265.27 Unrealized —

GD GENERAL DYNAMICS CORP 0.7%

Value $20.9M Shares 59,000 Est. Cost $106.81 Unrealized —

IEX IDEX CORP 0.1%

Value $2.624M Shares 11,563 Est. Cost $103.34 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.1%

Value $2.117M Shares 50,000 Est. Cost $33.07 Unrealized —

TYL TYLER TECHNOLOGIES INC 0.1%

Value $1.952M Shares 6,673 Est. Cost $373.75 Unrealized —

QUAL ISHARES TR 0.1%

Value $2.414M Shares 11,000 Est. Cost $69.10 Unrealized —

UBS UBS GROUP AG 0.0%

Value $1.279M Shares 25,815 Est. Cost $38.84 Unrealized —

DLB DOLBY LABORATORIES INC 0.1%

Value $1.8M Shares 34,239 Est. Cost $76.01 Unrealized —

IHG INTERCONTINENTAL HOTELS GROU 0.0%

Value $1.073M Shares 6,196 Est. Cost $121.26 Unrealized —

EQNR EQUINOR ASA 0.0%

Value $674K Shares 21,454 Est. Cost $23.63 Unrealized —

HSBC HSBC HLDGS PLC 0.0%

Value $1.225M Shares 12,880 Est. Cost $46.72 Unrealized —

TM TOYOTA MOTOR CORP 0.0%

Value $699K Shares 4,151 Est. Cost $193.05 Unrealized —

BSY BENTLEY SYS INC 0.0%

Value $844K Shares 28,227 Est. Cost $45.91 Unrealized —

MORN MORNINGSTAR INC 0.1%

Value $1.821M Shares 11,672 Est. Cost $177.03 Unrealized —

MUFG MITSUBISHI UFJ FINANCIAL GRO 0.0%

Value $966K Shares 48,563 Est. Cost $10.92 Unrealized —

BURL BURLINGTON STORES INC 0.1%

Value $4.176M Shares 13,182 Est. Cost $189.99 Unrealized —

DB DEUTSCHE BK AG 0.0%

Value $828K Shares 24,540 Est. Cost $34.09 Unrealized —

WMS ADVANCED DRAIN SYS INC DEL 0.0%

Value $694K Shares 4,424 Est. Cost $108.72 Unrealized —

SQM SOCIEDAD QUIMICA Y MINERA DE 0.0%

Value $865K Shares 11,679 Est. Cost $68.80 Unrealized —

IBN ICICI BANK LIMITED 0.0%

Value $709K Shares 24,407 Est. Cost $29.80 Unrealized —

MKL MARKEL GROUP INC 0.1%

Value $3.359M Shares 1,720 Est. Cost $1025.32 Unrealized —

KEX KIRBY CORP 0.1%

Value $2.287M Shares 16,817 Est. Cost $72.09 Unrealized —

NVS NOVARTIS AG 0.1%

Value $1.927M Shares 12,295 Est. Cost $146.86 Unrealized —

CHKP CHECK POINT SOFTWARE TECH LT 0.0%

Value $521K Shares 3,963 Est. Cost $193.34 Unrealized —

AZN ASTRAZENECA PLC 0.0%

Value $1.115M Shares 5,880 Est. Cost $190.39 Unrealized —

ONC BEONE MEDICINES LTD 0.0%

Value $919K Shares 3,224 Est. Cost $324.19 Unrealized —

FDS FACTSET RESH SYS INC 0.0%

Value $582K Shares 2,531 Est. Cost $165.93 Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 0.0%

Value $586K Shares 1,277 Est. Cost $558.87 Unrealized —

PSN PARSONS CORP DEL 0.0%

Value $934K Shares 17,834 Est. Cost $74.22 Unrealized —

AON AON PLC 0.0%

Value $1.014M Shares 3,058 Est. Cost $361.49 Unrealized —

MSFT MICROSOFT CORP 2.2%

Value $69.13M Shares 185,313 Est. Cost $49.36 Unrealized —

SHOP SHOPIFY INC 0.0%

Value $662K Shares 5,797 Est. Cost $136.45 Unrealized —

SONY SONY GROUP CORP 0.0%

Value $733K Shares 36,555 Est. Cost $30.07 Unrealized —

UL UNILEVER PLC 0.0%

Value $423K Shares 7,031 Est. Cost $65.40 Unrealized —

BBD BANCO BRADESCO S A 0.0%

Value $388K Shares 111,907 Est. Cost $3.33 Unrealized —

J JACOBS SOLUTIONS INC 0.1%

Value $1.792M Shares 14,221 Est. Cost $144.32 Unrealized —

GRMN GARMIN LTD 0.0%

Value $703K Shares 2,960 Est. Cost $229.08 Unrealized —

BAM BROOKFIELD ASSET MANAGMT LTD 0.0%

Value $924K Shares 20,600 Est. Cost $58.69 Unrealized —

ATR APTARGROUP INC 0.1%

Value $2.627M Shares 20,983 Est. Cost $83.22 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMAT	APPLIED MATLS INC	171,300	$124M	4.0%	$131.29	—	COM	038222105
MRVL	MARVELL TECHNOLOGY INC	238,382	$71.01M	2.3%	$40.30	—	COM	573874104
PANW	PALO ALTO NETWORKS INC	237,620	$81.03M	2.6%	$144.38	—	COM	697435105
LLY	ELI LILLY & CO	117,176	$141M	4.6%	$63.98	—	COM	532457108
NVDA	NVIDIA CORPORATION	1,034,047	$207M	6.7%	$92.83	—	COM	67066G104
GE	GE AEROSPACE	248,000	$92.69M	3.0%	$62.01	—	COM NEW	369604301
GOOGL	ALPHABET INC	280,000	$100M	3.3%	$106.46	—	CAP STK CL A	02079K305
GEV	GE VERNOVA INC	62,000	$72.84M	2.4%	$158.10	—	COM	36828A101
CAT	CATERPILLAR INC	43,975	$46.83M	1.5%	$341.77	—	COM	149123101
VTWO	VANGUARD SCOTTSDALE FDS	582,050	$70.67M	2.3%	$99.33	—	VNG RUS2000IDX	92206C664
XOM	EXXON MOBIL CORP	352,025	$48.13M	1.6%	$65.71	—	COM	30231G102
EUSA	ISHARES INC	772,000	$88.15M	2.9%	$92.09	—	MSCI EQUAL WEITE	464286681
SHLD	GLOBAL X FDS	759,000	$45.32M	1.5%	$46.55	—	DEFENSE TECH ETF	37960A529
CDNS	CADENCE DESIGN SYSTEM INC	70,500	$26.46M	0.9%	$257.92	—	COM	127387108
CRM	SALESFORCE INC	216,000	$33.84M	1.1%	$68.84	—	COM	79466L302
VEU	VANGUARD INTL EQUITY INDEX F	592,813	$49.65M	1.6%	$71.37	—	ALLWRLD EX US	922042775
MAR	MARRIOTT INTL INC NEW	109,000	$40.39M	1.3%	$167.15	—	CL A	571903202
C	CITIGROUP INC	174,000	$24.35M	0.8%	$56.00	—	COM NEW	172967424
AXP	AMERICAN EXPRESS CO	98,305	$33.25M	1.1%	$148.45	—	COM	025816109
SPY	STATE STR SPDR S&P 500 ETF T	34,135	$25.49M	0.8%	$244.60	—	TR UNIT	78462F103
FDX	FEDEX CORP	68,227	$21.36M	0.7%	$119.20	—	COM	31428X106
V	VISA INC	69,467	$23.83M	0.8%	$202.55	—	COM CL A	92826C839
PEP	PEPSICO INC	130,666	$17.69M	0.6%	$73.87	—	COM	713448108
SBUX	STARBUCKS CORP	200,353	$20.47M	0.7%	$47.75	—	COM	855244109
DOV	DOVER CORP	124,025	$27.82M	0.9%	$133.68	—	COM	260003108
KO	COCA COLA CO	332,797	$27.05M	0.9%	$33.44	—	COM	191216100
SPHQ	INVESCO EXCHANGE TRADED FD T	100,000	$9.01M	0.3%	$30.01	—	S&P500 QUALITY	46137V241
BRK/B	BERKSHIRE HATHAWAY INC DEL	51,650	$25.85M	0.8%	$205.34	—	CL B NEW	084670702
META	META PLATFORMS INC	115,400	$65M	2.1%	$104.78	—	CL A	30303M102
MPC	MARATHON PETE CORP	78,589	$20.09M	0.7%	$35.83	—	COM	56585A102
VWO	VANGUARD INTL EQUITY INDEX F	150,000	$8.954M	0.3%	$40.98	—	FTSE EMR MKT ETF	922042858
ASML	ASML HLDG NV	1,020	$2.029M	0.1%	$695.01	—	N Y REGISTRY SHS	N07059210
CACI	CACI INTL INC	8,172	$3.786M	0.1%	$265.27	—	CL A	127190304
GD	GENERAL DYNAMICS CORP	59,000	$20.9M	0.7%	$106.81	—	COM	369550108
IEX	IDEX CORP	11,563	$2.624M	0.1%	$103.34	—	COM	45167R104
VZ	VERIZON COMMUNICATIONS INC	50,000	$2.117M	0.1%	$33.07	—	COM	92343V104
TYL	TYLER TECHNOLOGIES INC	6,673	$1.952M	0.1%	$373.75	—	COM	902252105
QUAL	ISHARES TR	11,000	$2.414M	0.1%	$69.10	—	MSCI USA QLT FCT	46432F339
UBS	UBS GROUP AG	25,815	$1.279M	0.0%	$38.84	—	SHS	H42097107
DLB	DOLBY LABORATORIES INC	34,239	$1.8M	0.1%	$76.01	—	COM CL A	25659T107
IHG	INTERCONTINENTAL HOTELS GROU	6,196	$1.073M	0.0%	$121.26	—	SPONSORED ADS	45857P806
EQNR	EQUINOR ASA	21,454	$674K	0.0%	$23.63	—	SPONSORED ADR	29446M102
HSBC	HSBC HLDGS PLC	12,880	$1.225M	0.0%	$46.72	—	SPON ADR NEW	404280406
TM	TOYOTA MOTOR CORP	4,151	$699K	0.0%	$193.05	—	ADS	892331307
BSY	BENTLEY SYS INC	28,227	$844K	0.0%	$45.91	—	COM CL B	08265T208
MORN	MORNINGSTAR INC	11,672	$1.821M	0.1%	$177.03	—	COM	617700109
MUFG	MITSUBISHI UFJ FINANCIAL GRO	48,563	$966K	0.0%	$10.92	—	SPONSORED ADS	606822104
BURL	BURLINGTON STORES INC	13,182	$4.176M	0.1%	$189.99	—	COM	122017106
DB	DEUTSCHE BK AG	24,540	$828K	0.0%	$34.09	—	NAMEN AKT	D18190898
WMS	ADVANCED DRAIN SYS INC DEL	4,424	$694K	0.0%	$108.72	—	COM	00790R104
SQM	SOCIEDAD QUIMICA Y MINERA DE	11,679	$865K	0.0%	$68.80	—	SPON ADR SER B	833635105
IBN	ICICI BANK LIMITED	24,407	$709K	0.0%	$29.80	—	ADR	45104G104
MKL	MARKEL GROUP INC	1,720	$3.359M	0.1%	$1025.32	—	COM	570535104
KEX	KIRBY CORP	16,817	$2.287M	0.1%	$72.09	—	COM	497266106
NVS	NOVARTIS AG	12,295	$1.927M	0.1%	$146.86	—	SPONSORED ADR	66987V109
CHKP	CHECK POINT SOFTWARE TECH LT	3,963	$521K	0.0%	$193.34	—	ORD	M22465104
AZN	ASTRAZENECA PLC	5,880	$1.115M	0.0%	$190.39	—	ORD	G0593M107
ONC	BEONE MEDICINES LTD	3,224	$919K	0.0%	$324.19	—	SPONSORED ADS	07725L102
FDS	FACTSET RESH SYS INC	2,531	$582K	0.0%	$165.93	—	COM	303075105
SPOT	SPOTIFY TECHNOLOGY S A	1,277	$586K	0.0%	$558.87	—	SHS	L8681T102
PSN	PARSONS CORP DEL	17,834	$934K	0.0%	$74.22	—	COM	70202L102
AON	AON PLC	3,058	$1.014M	0.0%	$361.49	—	SHS CL A	G0403H108
MSFT	MICROSOFT CORP	185,313	$69.13M	2.2%	$49.36	—	COM	594918104
SHOP	SHOPIFY INC	5,797	$662K	0.0%	$136.45	—	CL A SUB VTG SHS	82509L107
SONY	SONY GROUP CORP	36,555	$733K	0.0%	$30.07	—	SPONSORED ADR	835699307
UL	UNILEVER PLC	7,031	$423K	0.0%	$65.40	—	SPON ADR NEW	904767803
BBD	BANCO BRADESCO S A	111,907	$388K	0.0%	$3.33	—	SP ADR PFD NEW	059460303
J	JACOBS SOLUTIONS INC	14,221	$1.792M	0.1%	$144.32	—	COM	46982L108
GRMN	GARMIN LTD	2,960	$703K	0.0%	$229.08	—	SHS	H2906T109
BAM	BROOKFIELD ASSET MANAGMT LTD	20,600	$924K	0.0%	$58.69	—	CL A LMT VTG SHS	113004105
ATR	APTARGROUP INC	20,983	$2.627M	0.1%	$83.22	—	COM	038336103