Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBB	ISHARES TR	120,000	$20.26M	0.8%	$168.85	—	ISHARES BIOTECH	464287556
AZN	ASTRAZENECA PLC	5,880	$1.16M	0.0%	$190.39	0.0%	ORD	G0593M107
HLI	HOULIHAN LOKEY INC	7,964	$1.144M	0.0%	$175.59	0.0%	CL A	441593100
SFM	SPROUTS FMRS MKT INC	12,307	$949K	0.0%	$72.37	0.0%	COM	85208M102
CDW	CDW CORP	7,760	$939K	0.0%	$129.97	0.0%	COM	12514G108
SHOP	SHOPIFY INC	5,797	$688K	0.0%	$136.45	0.0%	CL A SUB VTG SHS	82509L107

Increased Positions (16)

XOM EXXON MOBIL CORP 2.2%

Value $59.72M (+86.6%) Shares 352,025 (+32.3%) Est. Cost $65.71 Unrealized +111.2%

AMZN AMAZON COM INC 2.6%

Value $70.33M (-5.7%) Shares 337,674 (+4.5%) Est. Cost $118.56 Unrealized +91.3%

NVS NOVARTIS AG 0.1%

Value $1.878M (+180.0%) Shares 12,295 (+152.7%) Est. Cost $146.86 Unrealized —

TYL TYLER TECHNOLOGIES INC 0.1%

Value $2.285M (+96.9%) Shares 6,673 (+161.1%) Est. Cost $373.75 Unrealized +3.0%

POOL POOL CORP 0.1%

Value $1.895M (+102.3%) Shares 9,364 (+128.7%) Est. Cost $237.34 Unrealized +6.1%

GDDY GODADDY INC 0.1%

Value $2.981M (-20.4%) Shares 36,064 (+19.4%) Est. Cost $92.55 Unrealized +8.7%

MANH MANHATTAN ASSOCIATES INC 0.1%

Value $2.467M (+27.1%) Shares 18,535 (+65.4%) Est. Cost $135.54 Unrealized +14.9%

SAIA SAIA INC 0.1%

Value $1.924M (+31.0%) Shares 5,476 (+21.8%) Est. Cost $314.27 Unrealized +18.4%

TECH BIO-TECHNE CORP 0.1%

Value $2.399M (+16.6%) Shares 45,905 (+31.2%) Est. Cost $63.49 Unrealized +0.9%

PSN PARSONS CORP DEL 0.0%

Value $966K (+31.2%) Shares 17,834 (+49.7%) Est. Cost $74.22 Unrealized -8.5%

SCI SERVICE CORP INTL 0.1%

Value $1.71M (+14.8%) Shares 20,729 (+8.5%) Est. Cost $44.79 Unrealized +80.8%

RELX RELX PLC 0.0%

Value $884K (+29.1%) Shares 26,658 (+57.4%) Est. Cost $40.45 Unrealized —

SAP SAP SE 0.0%

Value $884K (+26.0%) Shares 5,162 (+78.7%) Est. Cost $210.58 Unrealized —

KNSL KINSALE CAP GROUP INC 0.1%

Value $1.451M (+8.1%) Shares 4,247 (+23.7%) Est. Cost $401.27 Unrealized -2.0%

NSIT INSIGHT ENTERPRISES INC 0.0%

Value $1.248M (+4.6%) Shares 18,620 (+27.2%) Est. Cost $124.91 Unrealized -32.3%

COLB COLUMBIA BKG SYS INC 0.0%

Value $955K (-0.5%) Shares 34,805 (+1.4%) Est. Cost $23.46 Unrealized +27.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORP	352,025 (+32.3%)	$59.72M (+86.6%)	2.2%	$65.71	+111.2%	COM	30231G102
AMZN	AMAZON COM INC	337,674 (+4.5%)	$70.33M (-5.7%)	2.6%	$118.56	+91.3%	COM	023135106
NVS	NOVARTIS AG	12,295 (+152.7%)	$1.878M (+180.0%)	0.1%	$146.86	—	SPONSORED ADR	66987V109
TYL	TYLER TECHNOLOGIES INC	6,673 (+161.1%)	$2.285M (+96.9%)	0.1%	$373.75	+3.0%	COM	902252105
POOL	POOL CORP	9,364 (+128.7%)	$1.895M (+102.3%)	0.1%	$237.34	+6.1%	COM	73278L105
GDDY	GODADDY INC	36,064 (+19.4%)	$2.981M (-20.4%)	0.1%	$92.55	+8.7%	CL A	380237107
MANH	MANHATTAN ASSOCIATES INC	18,535 (+65.4%)	$2.467M (+27.1%)	0.1%	$135.54	+14.9%	COM	562750109
SAIA	SAIA INC	5,476 (+21.8%)	$1.924M (+31.0%)	0.1%	$314.27	+18.4%	COM	78709Y105
TECH	BIO-TECHNE CORP	45,905 (+31.2%)	$2.399M (+16.6%)	0.1%	$63.49	+0.9%	COM	09073M104
PSN	PARSONS CORP DEL	17,834 (+49.7%)	$966K (+31.2%)	0.0%	$74.22	-8.5%	COM	70202L102
SCI	SERVICE CORP INTL	20,729 (+8.5%)	$1.71M (+14.8%)	0.1%	$44.79	+80.8%	COM	817565104
RELX	RELX PLC	26,658 (+57.4%)	$884K (+29.1%)	0.0%	$40.45	—	SPONSORED ADR	759530108
SAP	SAP SE	5,162 (+78.7%)	$884K (+26.0%)	0.0%	$210.58	—	SPON ADR	803054204
KNSL	KINSALE CAP GROUP INC	4,247 (+23.7%)	$1.451M (+8.1%)	0.1%	$401.27	-2.0%	COM	49714P108
NSIT	INSIGHT ENTERPRISES INC	18,620 (+27.2%)	$1.248M (+4.6%)	0.0%	$124.91	-32.3%	COM	45765U103
COLB	COLUMBIA BKG SYS INC	34,805 (+1.4%)	$955K (-0.5%)	0.0%	$23.46	+27.7%	COM	197236102

Exited Positions (7)

DIS DISNEY WALT CO 0.8%

Value $21.43M Shares 188,350 Est. Cost $151.21 Unrealized -27.6%

COP CONOCOPHILLIPS 0.4%

Value $11.09M Shares 118,500 Est. Cost $107.88 Unrealized -4.9%

TFX TELEFLEX INCORPORATED 0.1%

Value $1.808M Shares 14,815 Est. Cost $231.31 Unrealized -53.0%

LSTR LANDSTAR SYS INC 0.1%

Value $1.397M Shares 9,723 Est. Cost $93.15 Unrealized —

FCN FTI CONSULTING INC 0.1%

Value $1.35M Shares 7,905 Est. Cost $166.90 Unrealized +3.3%

AZN ASTRAZENECA PLC 0.0%

Value $862K Shares 9,380 Est. Cost $70.26 Unrealized —

BRO BROWN & BROWN INC 0.0%

Value $311K Shares 3,899 Est. Cost $42.25 Unrealized +75.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DIS	DISNEY WALT CO	188,350	$21.43M	0.8%	$151.21	-27.6%	—	254687106
COP	CONOCOPHILLIPS	118,500	$11.09M	0.4%	$107.88	-4.9%	—	20825C104
TFX	TELEFLEX INCORPORATED	14,815	$1.808M	0.1%	$231.31	-53.0%	—	879369106
LSTR	LANDSTAR SYS INC	9,723	$1.397M	0.1%	$93.15	—	—	515098101
FCN	FTI CONSULTING INC	7,905	$1.35M	0.1%	$166.90	+3.3%	—	302941109
AZN	ASTRAZENECA PLC	9,380	$862K	0.0%	$70.26	—	—	046353108
BRO	BROWN & BROWN INC	3,899	$311K	0.0%	$42.25	+75.6%	—	115236101

Decreased Positions (12)

TRMB TRIMBLE INC 0.1%

Value $3.897M (-28.2%) Shares 59,737 (-13.7%) Est. Cost $57.97 Unrealized +22.5%

MKL MARKEL GROUP INC 0.1%

Value $3.292M (-25.7%) Shares 1,720 (-16.6%) Est. Cost $1025.32 Unrealized +102.7%

CASY CASEYS GEN STORES INC 0.1%

Value $3.406M (-21.6%) Shares 4,679 (-40.5%) Est. Cost $222.25 Unrealized +183.9%

BAH BOOZ ALLEN HAMILTON HLDG COR 0.1%

Value $1.656M (-32.9%) Shares 21,223 (-27.4%) Est. Cost $94.26 Unrealized -7.7%

MORN MORNINGSTAR INC 0.1%

Value $1.967M (-27.6%) Shares 11,638 (-7.0%) Est. Cost $177.03 Unrealized +7.5%

DLB DOLBY LABORATORIES INC 0.1%

Value $2.056M (-25.9%) Shares 34,239 (-20.8%) Est. Cost $76.01 Unrealized -16.1%

COLM COLUMBIA SPORTSWEAR CO 0.0%

Value $577K (-51.4%) Shares 10,518 (-51.1%) Est. Cost $65.75 Unrealized -11.6%

UBS UBS GROUP AG 0.0%

Value $1.009M (-34.5%) Shares 25,815 (-22.4%) Est. Cost $38.84 Unrealized +17.3%

CACI CACI INTL INC 0.2%

Value $4.445M (-10.1%) Shares 8,172 (-11.9%) Est. Cost $265.27 Unrealized +127.3%

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.1%

Value $3.604M (-9.8%) Shares 10,663 (-18.9%) Est. Cost $176.45 Unrealized —

NVST ENVISTA HOLDINGS CORPORATION 0.1%

Value $1.423M (-15.0%) Shares 56,073 (-27.3%) Est. Cost $26.01 Unrealized -1.0%

KEX KIRBY CORP 0.1%

Value $2.235M (+1.1%) Shares 16,817 (-16.2%) Est. Cost $72.09 Unrealized +72.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TRMB	TRIMBLE INC	59,737 (-13.7%)	$3.897M (-28.2%)	0.1%	$57.97	+22.5%	COM	896239100
MKL	MARKEL GROUP INC	1,720 (-16.6%)	$3.292M (-25.7%)	0.1%	$1025.32	+102.7%	COM	570535104
CASY	CASEYS GEN STORES INC	4,679 (-40.5%)	$3.406M (-21.6%)	0.1%	$222.25	+183.9%	COM	147528103
BAH	BOOZ ALLEN HAMILTON HLDG COR	21,223 (-27.4%)	$1.656M (-32.9%)	0.1%	$94.26	-7.7%	CL A	099502106
MORN	MORNINGSTAR INC	11,638 (-7.0%)	$1.967M (-27.6%)	0.1%	$177.03	+7.5%	COM	617700109
DLB	DOLBY LABORATORIES INC	34,239 (-20.8%)	$2.056M (-25.9%)	0.1%	$76.01	-16.1%	COM CL A	25659T107
COLM	COLUMBIA SPORTSWEAR CO	10,518 (-51.1%)	$577K (-51.4%)	0.0%	$65.75	-11.6%	COM	198516106
UBS	UBS GROUP AG	25,815 (-22.4%)	$1.009M (-34.5%)	0.0%	$38.84	+17.3%	SHS	H42097107
CACI	CACI INTL INC	8,172 (-11.9%)	$4.445M (-10.1%)	0.2%	$265.27	+127.3%	CL A	127190304
TSM	TAIWAN SEMICONDUCTOR MANUFAC	10,663 (-18.9%)	$3.604M (-9.8%)	0.1%	$176.45	—	SPONSORED ADS	874039100
NVST	ENVISTA HOLDINGS CORPORATION	56,073 (-27.3%)	$1.423M (-15.0%)	0.1%	$26.01	-1.0%	COM	29415F104
KEX	KIRBY CORP	16,817 (-16.2%)	$2.235M (+1.1%)	0.1%	$72.09	+72.8%	COM	497266106

Unchanged Positions (126)

MSFT MICROSOFT CORP 2.6%

Value $69.1M Shares 186,668 Est. Cost $49.36 Unrealized +780.6%

LLY ELI LILLY & CO 4.0%

Value $108M Shares 117,776 Est. Cost $63.98 Unrealized +1536.7%

CRM SALESFORCE INC 1.5%

Value $40.47M Shares 216,800 Est. Cost $68.84 Unrealized +213.5%

AMAT APPLIED MATLS INC 2.2%

Value $58.55M Shares 171,300 Est. Cost $131.29 Unrealized +148.7%

ORCL ORACLE CORP 1.6%

Value $44.38M Shares 301,669 Est. Cost $31.95 Unrealized +430.9%

GEV GE VERNOVA INC 2.0%

Value $54.12M Shares 62,000 Est. Cost $158.10 Unrealized +366.1%

NVDA NVIDIA CORPORATION 6.7%

Value $181M Shares 1,038,197 Est. Cost $92.83 Unrealized +101.0%

AAPL APPLE INC 6.1%

Value $163M Shares 643,494 Est. Cost $85.07 Unrealized +209.0%

ADP AUTOMATIC DATA PROCESSING IN 1.5%

Value $41.18M Shares 202,692 Est. Cost $68.25 Unrealized +252.8%

META META PLATFORMS INC 2.4%

Value $66.02M Shares 115,400 Est. Cost $104.78 Unrealized +525.7%

VRT VERTIV HOLDINGS CO 1.0%

Value $27.91M Shares 111,375 Est. Cost $82.73 Unrealized +141.6%

JPM JPMORGAN CHASE & CO 3.7%

Value $99.17M Shares 337,139 Est. Cost $50.69 Unrealized +514.3%

WMT WALMART INC 2.8%

Value $75.72M Shares 609,255 Est. Cost $48.61 Unrealized +151.0%

BLK BLACKROCK INC 2.4%

Value $64.81M Shares 67,390 Est. Cost $991.05 Unrealized +10.7%

TMO THERMO FISHER SCIENTIFIC INC 1.5%

Value $40.6M Shares 82,609 Est. Cost $143.49 Unrealized +300.4%

GOOGL ALPHABET INC 3.0%

Value $80.52M Shares 280,000 Est. Cost $106.46 Unrealized +203.7%

GOOG ALPHABET INC 3.0%

Value $82.09M Shares 286,170 Est. Cost $107.09 Unrealized +202.2%

AXP AMERICAN EXPRESS CO 1.1%

Value $29.89M Shares 98,805 Est. Cost $148.45 Unrealized +139.9%

MPC MARATHON PETE CORP 0.7%

Value $19.19M Shares 78,589 Est. Cost $35.83 Unrealized +415.4%

SHEL SHELL PLC 1.1%

Value $29.48M Shares 316,989 Est. Cost $72.76 Unrealized —

GE GE AEROSPACE 2.6%

Value $70.37M Shares 248,000 Est. Cost $62.01 Unrealized +413.1%

CAT CATERPILLAR INC 1.2%

Value $31.41M Shares 44,335 Est. Cost $341.77 Unrealized +100.3%

PANW PALO ALTO NETWORKS INC 1.4%

Value $38.24M Shares 238,550 Est. Cost $144.38 Unrealized +19.2%

SHLD GLOBAL X FDS 2.0%

Value $53.98M Shares 762,000 Est. Cost $46.55 Unrealized —

FDX FEDEX CORP 0.9%

Value $24.3M Shares 68,227 Est. Cost $119.20 Unrealized +184.3%

HON HONEYWELL INTL INC 1.2%

Value $32.58M Shares 144,151 Est. Cost $83.51 Unrealized +170.5%

V VISA INC 0.8%

Value $21M Shares 69,467 Est. Cost $202.55 Unrealized +62.5%

MRVL MARVELL TECHNOLOGY INC 0.9%

Value $23.61M Shares 238,382 Est. Cost $40.30 Unrealized +101.2%

CDNS CADENCE DESIGN SYSTEM INC 0.7%

Value $19.7M Shares 70,910 Est. Cost $257.92 Unrealized +17.6%

BA BOEING CO 0.9%

Value $24.09M Shares 121,018 Est. Cost $111.87 Unrealized +113.2%

KO COCA COLA CO 0.9%

Value $25.51M Shares 335,497 Est. Cost $33.44 Unrealized +123.5%

UNP UNION PAC CORP 1.5%

Value $41.07M Shares 169,273 Est. Cost $62.53 Unrealized +289.1%

HD HOME DEPOT INC 1.5%

Value $39.96M Shares 121,503 Est. Cost $100.12 Unrealized +276.5%

MAR MARRIOTT INTL INC NEW 1.3%

Value $35.65M Shares 109,000 Est. Cost $167.15 Unrealized +97.9%

DOV DOVER CORP 1.0%

Value $25.85M Shares 124,025 Est. Cost $133.68 Unrealized +60.6%

PEP PEPSICO INC 0.8%

Value $20.29M Shares 130,666 Est. Cost $73.87 Unrealized +109.5%

EUSA ISHARES INC 2.9%

Value $78.81M Shares 774,400 Est. Cost $92.09 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.9%

Value $24.75M Shares 51,650 Est. Cost $205.34 Unrealized +140.3%

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

Value $22.2M Shares 34,135 Est. Cost $244.60 Unrealized —

SBUX STARBUCKS CORP 0.7%

Value $17.95M Shares 200,353 Est. Cost $47.75 Unrealized +96.0%

MDY STATE STR SPDR S&P MIDCAP 40 1.7%

Value $46.29M Shares 75,050 Est. Cost $262.72 Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC 0.1%

Value $2.745M Shares 36,037 Est. Cost $47.08 Unrealized +38.5%

MDLZ MONDELEZ INTL INC 0.5%

Value $14.39M Shares 249,700 Est. Cost $32.41 Unrealized +79.4%

VEU VANGUARD INTL EQUITY INDEX F 1.7%

Value $44.78M Shares 596,273 Est. Cost $71.37 Unrealized —

TRU TRANSUNION 0.1%

Value $2.902M Shares 41,947 Est. Cost $70.48 Unrealized +12.0%

MCD MCDONALDS CORP 1.5%

Value $39.94M Shares 128,519 Est. Cost $93.96 Unrealized +237.6%

ASX ASE TECHNOLOGY HLDG CO LTD 0.1%

Value $2.415M Shares 111,396 Est. Cost $16.10 Unrealized —

BLKB BLACKBAUD INC 0.0%

Value $898K Shares 23,260 Est. Cost $62.41 Unrealized -14.6%

C CITIGROUP INC 0.7%

Value $19.73M Shares 174,000 Est. Cost $56.00 Unrealized +107.5%

BURL BURLINGTON STORES INC 0.2%

Value $4.289M Shares 13,182 Est. Cost $189.99 Unrealized +60.1%

VZ VERIZON COMMUNICATIONS INC 0.1%

Value $2.51M Shares 50,000 Est. Cost $33.07 Unrealized +32.5%

EQNR EQUINOR ASA 0.0%

Value $905K Shares 21,454 Est. Cost $23.63 Unrealized —

GD GENERAL DYNAMICS CORP 0.8%

Value $20.25M Shares 59,000 Est. Cost $106.81 Unrealized +231.9%

VTWO VANGUARD SCOTTSDALE FDS 2.2%

Value $58.3M Shares 582,050 Est. Cost $99.33 Unrealized —

JLL JONES LANG LASALLE INC 0.1%

Value $3.27M Shares 10,745 Est. Cost $148.45 Unrealized +126.4%

PBR PETROLEO BRASILEIRO S A 0.0%

Value $799K Shares 38,514 Est. Cost $11.85 Unrealized —

ICLR ICON PLC 0.0%

Value $524K Shares 4,734 Est. Cost $178.08 Unrealized -12.2%

ARMK ARAMARK 0.1%

Value $3.118M Shares 76,923 Est. Cost $21.30 Unrealized +83.5%

ASML ASML HLDG NV 0.0%

Value $1.347M Shares 1,020 Est. Cost $695.01 Unrealized —

ULTA ULTA BEAUTY INC 0.1%

Value $1.608M Shares 3,077 Est. Cost $297.01 Unrealized +125.6%

CSL CARLISLE COS INC 0.2%

Value $5.39M Shares 16,156 Est. Cost $122.92 Unrealized +202.2%

JKHY HENRY JACK & ASSOC INC 0.1%

Value $1.556M Shares 9,846 Est. Cost $115.31 Unrealized +52.1%

NDSN NORDSON CORP 0.1%

Value $2.175M Shares 8,176 Est. Cost $139.16 Unrealized +99.2%

DB DEUTSCHE BK AG 0.0%

Value $731K Shares 24,540 Est. Cost $34.09 Unrealized +11.6%

ARGX ARGENX SE 0.1%

Value $1.36M Shares 1,862 Est. Cost $608.31 Unrealized —

CSCO CISCO SYS INC 1.0%

Value $28.28M Shares 364,504 Est. Cost $19.19 Unrealized +306.0%

WRB BERKLEY W R CORP 0.1%

Value $3.463M Shares 52,249 Est. Cost $37.50 Unrealized +85.2%

BLD TOPBUILD COR 0.0%

Value $1.037M Shares 2,952 Est. Cost $428.74 Unrealized +14.7%

HDB HDFC BANK LTD 0.0%

Value $405K Shares 16,269 Est. Cost $36.54 Unrealized —

AFL AFLAC INC 1.4%

Value $36.97M Shares 337,000 Est. Cost $31.84 Unrealized +249.3%

CHH CHOICE HOTELS INTL INC 0.1%

Value $2.315M Shares 22,369 Est. Cost $84.70 Unrealized +25.4%

AVY AVERY DENNISON CORP 0.1%

Value $3.439M Shares 19,917 Est. Cost $176.48 Unrealized +7.2%

FDS FACTSET RESH SYS INC 0.0%

Value $546K Shares 2,518 Est. Cost $165.93 Unrealized +48.9%

SONY SONY GROUP CORP 0.0%

Value $757K Shares 36,555 Est. Cost $30.07 Unrealized —

COST COSTCO WHOLESALE CORPORATION 0.0%

Value $1.309M Shares 1,314 Est. Cost $965.28 Unrealized -0.2%

CHKP CHECK POINT SOFTWARE TECH LT 0.0%

Value $566K Shares 3,963 Est. Cost $193.34 Unrealized -8.7%

JBHT HUNT J B TRANS SVCS INC 0.1%

Value $1.979M Shares 9,337 Est. Cost $81.17 Unrealized +163.6%

BAM BROOKFIELD ASSET MANAGMT LTD 0.0%

Value $916K Shares 20,600 Est. Cost $58.69 Unrealized -12.3%

EMR EMERSON ELEC CO 0.4%

Value $11.14M Shares 85,000 Est. Cost $85.92 Unrealized +72.8%

SQM SOCIEDAD QUIMICA Y MINERA DE 0.0%

Value $951K Shares 11,745 Est. Cost $68.80 Unrealized —

IEX IDEX CORP 0.1%

Value $2.184M Shares 11,524 Est. Cost $103.34 Unrealized +92.6%

AMG AFFILIATED MANAGERS GROUP 0.1%

Value $3.194M Shares 11,542 Est. Cost $94.14 Unrealized +231.8%

SEIC SEI INVTS CO 0.1%

Value $3.382M Shares 43,101 Est. Cost $43.67 Unrealized +92.8%

CIB GRUPO CIBEST SA 0.0%

Value $1.032M Shares 14,177 Est. Cost $63.61 Unrealized —

CCL CARNIVAL CORP 0.0%

Value $712K Shares 27,494 Est. Cost $27.88 Unrealized +11.3%

CAE CAE INC 0.0%

Value $732K Shares 28,087 Est. Cost $28.05 Unrealized +13.4%

SPOT SPOTIFY TECHNOLOGY S A 0.0%

Value $619K Shares 1,277 Est. Cost $558.87 Unrealized -11.0%

NU NU HLDGS LTD 0.0%

Value $739K Shares 51,405 Est. Cost $13.95 Unrealized +24.3%

RPM RPM INTL INC 0.1%

Value $2.73M Shares 27,461 Est. Cost $63.67 Unrealized +76.1%

LII LENNOX INTL INC 0.1%

Value $2.396M Shares 5,163 Est. Cost $188.28 Unrealized +179.8%

BIDU BAIDU INC 0.0%

Value $597K Shares 5,356 Est. Cost $130.66 Unrealized —

RIO RIO TINTO PLC 0.0%

Value $702K Shares 7,528 Est. Cost $80.03 Unrealized —

ABT ABBOTT LABORATORIES 0.0%

Value $438K Shares 4,266 Est. Cost $69.12 Unrealized +67.0%

IBN ICICI BANK LIMITED 0.0%

Value $632K Shares 24,407 Est. Cost $29.80 Unrealized —

ATR APTARGROUP INC 0.1%

Value $2.633M Shares 20,897 Est. Cost $83.22 Unrealized +56.3%

AON AON PLC 0.0%

Value $987K Shares 3,058 Est. Cost $361.49 Unrealized -7.0%

GRMN GARMIN LTD 0.0%

Value $687K Shares 2,960 Est. Cost $229.08 Unrealized -6.4%

BSY BENTLEY SYS INC 0.0%

Value $991K Shares 28,227 Est. Cost $45.91 Unrealized -21.3%

MRK MERCK & CO INC 0.0%

Value $662K Shares 5,500 Est. Cost $51.09 Unrealized +123.7%

ABEV AMBEV SA 0.0%

Value $530K Shares 181,497 Est. Cost $2.47 Unrealized —

QUAL ISHARES TR 0.1%

Value $2.11M Shares 11,000 Est. Cost $69.10 Unrealized —

J JACOBS SOLUTIONS INC 0.1%

Value $1.81M Shares 14,221 Est. Cost $144.32 Unrealized -4.0%

SSD SIMPSON MFG INC 0.0%

Value $1.201M Shares 6,998 Est. Cost $173.00 Unrealized +8.5%

NXPI NXP SEMICONDUCTORS N V 0.0%

Value $669K Shares 3,399 Est. Cost $223.02 Unrealized +5.1%

BALL BALL CORP 0.0%

Value $612K Shares 10,354 Est. Cost $50.04 Unrealized +20.5%

WEX WEX INC 0.1%

Value $2.389M Shares 15,609 Est. Cost $129.07 Unrealized +20.8%

LKQ LKQ CORP 0.1%

Value $2.179M Shares 74,203 Est. Cost $38.72 Unrealized -14.1%

UL UNILEVER PLC 0.0%

Value $401K Shares 7,031 Est. Cost $65.40 Unrealized —

GGG GRACO INC 0.1%

Value $1.574M Shares 18,598 Est. Cost $34.83 Unrealized +156.0%

MUFG MITSUBISHI UFJ FINANCIAL GRO 0.0%

Value $824K Shares 48,563 Est. Cost $10.92 Unrealized —

HSBC HSBC HLDGS PLC 0.0%

Value $1.062M Shares 12,880 Est. Cost $46.72 Unrealized —

IHG INTERCONTINENTAL HOTELS GROU 0.0%

Value $827K Shares 6,196 Est. Cost $121.26 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.3%

Value $8.107M Shares 150,000 Est. Cost $40.98 Unrealized —

BBD BANCO BRADESCO S A 0.0%

Value $408K Shares 111,907 Est. Cost $3.33 Unrealized —

FERG FERGUSON ENTERPRISES INC 0.0%

Value $758K Shares 3,251 Est. Cost $224.73 Unrealized +11.7%

WMS ADVANCED DRAIN SYS INC DEL 0.0%

Value $607K Shares 4,424 Est. Cost $108.72 Unrealized +48.3%

TM TOYOTA MOTOR CORP 0.0%

Value $855K Shares 4,151 Est. Cost $193.05 Unrealized —

PB PROSPERITY BANCSHARES INC 0.0%

Value $1.042M Shares 15,506 Est. Cost $53.03 Unrealized +36.1%

ABBV ABBVIE INC 0.0%

Value $538K Shares 2,475 Est. Cost $80.93 Unrealized +175.0%

CNI CANADIAN NATL RY CO 0.0%

Value $648K Shares 6,302 Est. Cost $109.41 Unrealized -6.7%

ONC BEONE MEDICINES LTD 0.0%

Value $957K Shares 3,224 Est. Cost $324.19 Unrealized —

EG EVEREST GROUP LTD 0.0%

Value $480K Shares 1,468 Est. Cost $330.24 Unrealized +0.3%

VTV VANGUARD INDEX FDS 0.0%

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

SPHQ INVESCO EXCHANGE TRADED FD T 0.3%

Value $7.519M Shares 100,000 Est. Cost $30.01 Unrealized —

EQR EQUITY RESIDENTIAL 0.0%

Value $207K Shares 3,500 Est. Cost $54.27 Unrealized +14.3%

XLRE SELECT SECTOR SPDR TR 0.0%

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

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	186,668	$69.1M	2.6%	$49.36	+780.6%	COM	594918104
LLY	ELI LILLY & CO	117,776	$108M	4.0%	$63.98	+1536.7%	COM	532457108
CRM	SALESFORCE INC	216,800	$40.47M	1.5%	$68.84	+213.5%	COM	79466L302
AMAT	APPLIED MATLS INC	171,300	$58.55M	2.2%	$131.29	+148.7%	COM	038222105
ORCL	ORACLE CORP	301,669	$44.38M	1.6%	$31.95	+430.9%	COM	68389X105
GEV	GE VERNOVA INC	62,000	$54.12M	2.0%	$158.10	+366.1%	COM	36828A101
NVDA	NVIDIA CORPORATION	1,038,197	$181M	6.7%	$92.83	+101.0%	COM	67066G104
AAPL	APPLE INC	643,494	$163M	6.1%	$85.07	+209.0%	COM	037833100
ADP	AUTOMATIC DATA PROCESSING IN	202,692	$41.18M	1.5%	$68.25	+252.8%	COM	053015103
META	META PLATFORMS INC	115,400	$66.02M	2.4%	$104.78	+525.7%	CL A	30303M102
VRT	VERTIV HOLDINGS CO	111,375	$27.91M	1.0%	$82.73	+141.6%	COM CL A	92537N108
JPM	JPMORGAN CHASE & CO	337,139	$99.17M	3.7%	$50.69	+514.3%	COM	46625H100
WMT	WALMART INC	609,255	$75.72M	2.8%	$48.61	+151.0%	COM	931142103
BLK	BLACKROCK INC	67,390	$64.81M	2.4%	$991.05	+10.7%	COM	09290D101
TMO	THERMO FISHER SCIENTIFIC INC	82,609	$40.6M	1.5%	$143.49	+300.4%	COM	883556102
GOOGL	ALPHABET INC	280,000	$80.52M	3.0%	$106.46	+203.7%	CAP STK CL A	02079K305
GOOG	ALPHABET INC	286,170	$82.09M	3.0%	$107.09	+202.2%	CAP STK CL C	02079K107
AXP	AMERICAN EXPRESS CO	98,805	$29.89M	1.1%	$148.45	+139.9%	COM	025816109
MPC	MARATHON PETE CORP	78,589	$19.19M	0.7%	$35.83	+415.4%	COM	56585A102
SHEL	SHELL PLC	316,989	$29.48M	1.1%	$72.76	—	SPON ADS	780259305
GE	GE AEROSPACE	248,000	$70.37M	2.6%	$62.01	+413.1%	COM NEW	369604301
CAT	CATERPILLAR INC	44,335	$31.41M	1.2%	$341.77	+100.3%	COM	149123101
PANW	PALO ALTO NETWORKS INC	238,550	$38.24M	1.4%	$144.38	+19.2%	COM	697435105
SHLD	GLOBAL X FDS	762,000	$53.98M	2.0%	$46.55	—	DEFENSE TECH ETF	37960A529
FDX	FEDEX CORP	68,227	$24.3M	0.9%	$119.20	+184.3%	COM	31428X106
HON	HONEYWELL INTL INC	144,151	$32.58M	1.2%	$83.51	+170.5%	COM	438516106
V	VISA INC	69,467	$21M	0.8%	$202.55	+62.5%	COM CL A	92826C839
MRVL	MARVELL TECHNOLOGY INC	238,382	$23.61M	0.9%	$40.30	+101.2%	COM	573874104
CDNS	CADENCE DESIGN SYSTEM INC	70,910	$19.7M	0.7%	$257.92	+17.6%	COM	127387108
BA	BOEING CO	121,018	$24.09M	0.9%	$111.87	+113.2%	COM	097023105
KO	COCA COLA CO	335,497	$25.51M	0.9%	$33.44	+123.5%	COM	191216100
UNP	UNION PAC CORP	169,273	$41.07M	1.5%	$62.53	+289.1%	COM	907818108
HD	HOME DEPOT INC	121,503	$39.96M	1.5%	$100.12	+276.5%	COM	437076102
MAR	MARRIOTT INTL INC NEW	109,000	$35.65M	1.3%	$167.15	+97.9%	CL A	571903202
DOV	DOVER CORP	124,025	$25.85M	1.0%	$133.68	+60.6%	COM	260003108
PEP	PEPSICO INC	130,666	$20.29M	0.8%	$73.87	+109.5%	COM	713448108
EUSA	ISHARES INC	774,400	$78.81M	2.9%	$92.09	—	MSCI EQUAL WEITE	464286681
BRK/B	BERKSHIRE HATHAWAY INC DEL	51,650	$24.75M	0.9%	$205.34	+140.3%	CL B NEW	084670702
SPY	STATE STR SPDR S&P 500 ETF T	34,135	$22.2M	0.8%	$244.60	—	TR UNIT	78462F103
SBUX	STARBUCKS CORP	200,353	$17.95M	0.7%	$47.75	+96.0%	COM	855244109
MDY	STATE STR SPDR S&P MIDCAP 40	75,050	$46.29M	1.7%	$262.72	—	UTSER1 S&PDCRP	78467Y107
SOLS	SOLSTICE ADVANCED MATLS INC	36,037	$2.745M	0.1%	$47.08	+38.5%	COM SHS	83443Q103
MDLZ	MONDELEZ INTL INC	249,700	$14.39M	0.5%	$32.41	+79.4%	CL A	609207105
VEU	VANGUARD INTL EQUITY INDEX F	596,273	$44.78M	1.7%	$71.37	—	ALLWRLD EX US	922042775
TRU	TRANSUNION	41,947	$2.902M	0.1%	$70.48	+12.0%	COM	89400J107
MCD	MCDONALDS CORP	128,519	$39.94M	1.5%	$93.96	+237.6%	COM	580135101
ASX	ASE TECHNOLOGY HLDG CO LTD	111,396	$2.415M	0.1%	$16.10	—	SPONSORED ADS	00215W100
BLKB	BLACKBAUD INC	23,260	$898K	0.0%	$62.41	-14.6%	COM	09227Q100
C	CITIGROUP INC	174,000	$19.73M	0.7%	$56.00	+107.5%	COM NEW	172967424
BURL	BURLINGTON STORES INC	13,182	$4.289M	0.2%	$189.99	+60.1%	COM	122017106
VZ	VERIZON COMMUNICATIONS INC	50,000	$2.51M	0.1%	$33.07	+32.5%	COM	92343V104
EQNR	EQUINOR ASA	21,454	$905K	0.0%	$23.63	—	SPONSORED ADR	29446M102
GD	GENERAL DYNAMICS CORP	59,000	$20.25M	0.8%	$106.81	+231.9%	COM	369550108
VTWO	VANGUARD SCOTTSDALE FDS	582,050	$58.3M	2.2%	$99.33	—	VNG RUS2000IDX	92206C664
JLL	JONES LANG LASALLE INC	10,745	$3.27M	0.1%	$148.45	+126.4%	COM	48020Q107
PBR	PETROLEO BRASILEIRO S A	38,514	$799K	0.0%	$11.85	—	SPONSORED ADR	71654V408
ICLR	ICON PLC	4,734	$524K	0.0%	$178.08	-12.2%	SHS	G4705A100
ARMK	ARAMARK	76,923	$3.118M	0.1%	$21.30	+83.5%	COM	03852U106
ASML	ASML HLDG NV	1,020	$1.347M	0.0%	$695.01	—	N Y REGISTRY SHS	N07059210
ULTA	ULTA BEAUTY INC	3,077	$1.608M	0.1%	$297.01	+125.6%	COM	90384S303
CSL	CARLISLE COS INC	16,156	$5.39M	0.2%	$122.92	+202.2%	COM	142339100
JKHY	HENRY JACK & ASSOC INC	9,846	$1.556M	0.1%	$115.31	+52.1%	COM	426281101
NDSN	NORDSON CORP	8,176	$2.175M	0.1%	$139.16	+99.2%	COM	655663102
DB	DEUTSCHE BK AG	24,540	$731K	0.0%	$34.09	+11.6%	NAMEN AKT	D18190898
ARGX	ARGENX SE	1,862	$1.36M	0.1%	$608.31	—	SPONSORED ADR	04016X101
CSCO	CISCO SYS INC	364,504	$28.28M	1.0%	$19.19	+306.0%	COM	17275R102
WRB	BERKLEY W R CORP	52,249	$3.463M	0.1%	$37.50	+85.2%	COM	084423102
BLD	TOPBUILD COR	2,952	$1.037M	0.0%	$428.74	+14.7%	COM	89055F103
HDB	HDFC BANK LTD	16,269	$405K	0.0%	$36.54	—	SPONSORED ADS	40415F101
AFL	AFLAC INC	337,000	$36.97M	1.4%	$31.84	+249.3%	COM	001055102
CHH	CHOICE HOTELS INTL INC	22,369	$2.315M	0.1%	$84.70	+25.4%	COM	169905106
AVY	AVERY DENNISON CORP	19,917	$3.439M	0.1%	$176.48	+7.2%	COM	053611109
FDS	FACTSET RESH SYS INC	2,518	$546K	0.0%	$165.93	+48.9%	COM	303075105
SONY	SONY GROUP CORP	36,555	$757K	0.0%	$30.07	—	SPONSORED ADR	835699307
COST	COSTCO WHOLESALE CORPORATION	1,314	$1.309M	0.0%	$965.28	-0.2%	COM	22160K105
CHKP	CHECK POINT SOFTWARE TECH LT	3,963	$566K	0.0%	$193.34	-8.7%	ORD	M22465104
JBHT	HUNT J B TRANS SVCS INC	9,337	$1.979M	0.1%	$81.17	+163.6%	COM	445658107
BAM	BROOKFIELD ASSET MANAGMT LTD	20,600	$916K	0.0%	$58.69	-12.3%	CL A LMT VTG SHS	113004105
EMR	EMERSON ELEC CO	85,000	$11.14M	0.4%	$85.92	+72.8%	COM	291011104
SQM	SOCIEDAD QUIMICA Y MINERA DE	11,745	$951K	0.0%	$68.80	—	SPON ADR SER B	833635105
IEX	IDEX CORP	11,524	$2.184M	0.1%	$103.34	+92.6%	COM	45167R104
AMG	AFFILIATED MANAGERS GROUP	11,542	$3.194M	0.1%	$94.14	+231.8%	COM	008252108
SEIC	SEI INVTS CO	43,101	$3.382M	0.1%	$43.67	+92.8%	COM	784117103
CIB	GRUPO CIBEST SA	14,177	$1.032M	0.0%	$63.61	—	SPON ADS	40090E106
CCL	CARNIVAL CORP	27,494	$712K	0.0%	$27.88	+11.3%	COMMON STOCK	143658300
CAE	CAE INC	28,087	$732K	0.0%	$28.05	+13.4%	COM	124765108
SPOT	SPOTIFY TECHNOLOGY S A	1,277	$619K	0.0%	$558.87	-11.0%	SHS	L8681T102
NU	NU HLDGS LTD	51,405	$739K	0.0%	$13.95	+24.3%	ORD SHS CL A	G6683N103
RPM	RPM INTL INC	27,461	$2.73M	0.1%	$63.67	+76.1%	COM	749685103
LII	LENNOX INTL INC	5,163	$2.396M	0.1%	$188.28	+179.8%	COM	526107107
BIDU	BAIDU INC	5,356	$597K	0.0%	$130.66	—	SPON ADR REP A	056752108
RIO	RIO TINTO PLC	7,528	$702K	0.0%	$80.03	—	SPONSORED ADR	767204100
ABT	ABBOTT LABORATORIES	4,266	$438K	0.0%	$69.12	+67.0%	COM	002824100
IBN	ICICI BANK LIMITED	24,407	$632K	0.0%	$29.80	—	ADR	45104G104
ATR	APTARGROUP INC	20,897	$2.633M	0.1%	$83.22	+56.3%	COM	038336103
AON	AON PLC	3,058	$987K	0.0%	$361.49	-7.0%	SHS CL A	G0403H108
GRMN	GARMIN LTD	2,960	$687K	0.0%	$229.08	-6.4%	SHS	H2906T109
BSY	BENTLEY SYS INC	28,227	$991K	0.0%	$45.91	-21.3%	COM CL B	08265T208
MRK	MERCK & CO INC	5,500	$662K	0.0%	$51.09	+123.7%	COM	58933Y105
ABEV	AMBEV SA	181,497	$530K	0.0%	$2.47	—	SPONSORED ADR	02319V103
QUAL	ISHARES TR	11,000	$2.11M	0.1%	$69.10	—	MSCI USA QLT FCT	46432F339
J	JACOBS SOLUTIONS INC	14,221	$1.81M	0.1%	$144.32	-4.0%	COM	46982L108
SSD	SIMPSON MFG INC	6,998	$1.201M	0.0%	$173.00	+8.5%	COM	829073105
NXPI	NXP SEMICONDUCTORS N V	3,399	$669K	0.0%	$223.02	+5.1%	COM	N6596X109
BALL	BALL CORP	10,354	$612K	0.0%	$50.04	+20.5%	COM	058498106
WEX	WEX INC	15,609	$2.389M	0.1%	$129.07	+20.8%	COM	96208T104
LKQ	LKQ CORP	74,203	$2.179M	0.1%	$38.72	-14.1%	COM	501889208
UL	UNILEVER PLC	7,031	$401K	0.0%	$65.40	—	SPON ADR NEW	904767803
GGG	GRACO INC	18,598	$1.574M	0.1%	$34.83	+156.0%	COM	384109104
MUFG	MITSUBISHI UFJ FINANCIAL GRO	48,563	$824K	0.0%	$10.92	—	SPONSORED ADS	606822104
HSBC	HSBC HLDGS PLC	12,880	$1.062M	0.0%	$46.72	—	SPON ADR NEW	404280406
IHG	INTERCONTINENTAL HOTELS GROU	6,196	$827K	0.0%	$121.26	—	SPONSORED ADS	45857P806
VWO	VANGUARD INTL EQUITY INDEX F	150,000	$8.107M	0.3%	$40.98	—	FTSE EMR MKT ETF	922042858
BBD	BANCO BRADESCO S A	111,907	$408K	0.0%	$3.33	—	SP ADR PFD NEW	059460303
FERG	FERGUSON ENTERPRISES INC	3,251	$758K	0.0%	$224.73	+11.7%	COMMON STOCK NEW	31488V107
WMS	ADVANCED DRAIN SYS INC DEL	4,424	$607K	0.0%	$108.72	+48.3%	COM	00790R104
TM	TOYOTA MOTOR CORP	4,151	$855K	0.0%	$193.05	—	ADS	892331307
PB	PROSPERITY BANCSHARES INC	15,506	$1.042M	0.0%	$53.03	+36.1%	COM	743606105
ABBV	ABBVIE INC	2,475	$538K	0.0%	$80.93	+175.0%	COM	00287Y109
CNI	CANADIAN NATL RY CO	6,302	$648K	0.0%	$109.41	-6.7%	COM	136375102
ONC	BEONE MEDICINES LTD	3,224	$957K	0.0%	$324.19	—	SPONSORED ADS	07725L102
EG	EVEREST GROUP LTD	1,468	$480K	0.0%	$330.24	+0.3%	COM	G3223R108
VTV	VANGUARD INDEX FDS	3,075	$603K	0.0%	$168.74	—	VALUE ETF	922908744
SPHQ	INVESCO EXCHANGE TRADED FD T	100,000	$7.519M	0.3%	$30.01	—	S&P500 QUALITY	46137V241
EQR	EQUITY RESIDENTIAL	3,500	$207K	0.0%	$54.27	+14.3%	SH BEN INT	29476L107
XLRE	SELECT SECTOR SPDR TR	6,675	$273K	0.0%	$40.67	—	STATE STREET REA	81369Y860