CONFLUENCE INVESTMENT MANAGEMENT LLC
CIK 0001442056
Annualised vol
9.861394%
Beta
0.419631
HHI
142.27321
Top-10 weight
24.038584%
VaR 95%
0.837496%
VaR 99%
1.748404%
Max drawdown
21.498317%
Matched value
67.152177%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| SNA | REDUCED | 417,132 | 435,896 | -4.3% | 167,853,845 |
| CB | REDUCED | 460,772 | 482,043 | -4.41% | 157,003,383 |
| LIN | REDUCED | 270,727 | 283,072 | -4.36% | 140,491,020 |
| WEC | REDUCED | 1,191,332 | 1,237,016 | -3.69% | 139,111,844 |
| FAST | REDUCED | 2,829,738 | 2,966,722 | -4.62% | 135,912,310 |
| LMT | REDUCED | 258,577 | 269,640 | -4.1% | 131,734,746 |
| SO | REDUCED | 1,370,593 | 1,421,871 | -3.61% | 131,179,461 |
| SWK | NEW | 1,342,667 | - | - | 126,371,838 |
| CVX | REDUCED | 742,863 | 772,243 | -3.8% | 123,137,009 |
| MDLZ | REDUCED | 2,044,332 | 2,112,856 | -3.24% | 118,244,163 |
| ADI | REDUCED | 293,390 | 540,640 | -45.73% | 116,525,843 |
| HSY | REDUCED | 663,243 | 690,349 | -3.93% | 116,365,981 |
| NTRS | REDUCED | 660,416 | 680,260 | -2.92% | 114,806,661 |
| CL | REDUCED | 1,209,372 | 1,250,090 | -3.26% | 110,875,229 |
| HD | REDUCED | 311,263 | 319,923 | -2.71% | 109,776,232 |
| KMI | REDUCED | 3,368,817 | 3,489,006 | -3.44% | 107,701,078 |
| GILD | REDUCED | 832,632 | 861,023 | -3.3% | 105,194,766 |
| AWK | REDUCED | 780,309 | 809,958 | -3.66% | 102,673,069 |
| CSCO | REDUCED | 841,787 | 1,540,946 | -45.37% | 98,876,332 |
| PAYX | REDUCED | 952,424 | 969,809 | -1.79% | 93,651,844 |
| NDSN | REDUCED | 281,120 | 308,267 | -8.81% | 84,810,940 |
| BR | REDUCED | 523,341 | 534,393 | -2.07% | 71,671,558 |
| MA | REDUCED | 136,514 | 146,534 | -6.84% | 70,113,291 |
| SYK | ADDED | 212,000 | 208,059 | 1.89% | 66,746,084 |
| DEO | REDUCED | 776,936 | 1,353,434 | -42.6% | 62,450,152 |
| ARCC | REDUCED | 3,367,580 | 3,435,289 | -1.97% | 62,401,253 |
| SPGI | ADDED | 141,186 | 133,907 | 5.44% | 57,499,499 |
| HON | REDUCED | 240,572 | 499,862 | -51.87% | 53,863,959 |
| MSFT | REDUCED | 142,894 | 148,611 | -3.85% | 53,302,312 |
| HONA | NEW | 241,062 | - | - | 53,293,885 |
| ITW | REDUCED | 193,034 | 207,159 | -6.82% | 52,209,932 |
| DOW | REDUCED | 1,850,660 | 1,870,348 | -1.05% | 50,634,065 |
| BRK-B | REDUCED | 86,575 | 93,266 | -7.17% | 47,063,262 |
| PAYC | REDUCED | 374,387 | 407,747 | -8.18% | 47,052,996 |
| TMO | ADDED | 92,781 | 90,151 | 2.92% | 46,516,787 |
| ACN | ADDED | 341,854 | 340,812 | 0.31% | 42,540,308 |
| NXPI | REDUCED | 151,365 | 219,824 | -31.14% | 42,538,261 |
| GGG | REDUCED | 549,102 | 585,714 | -6.25% | 41,517,610 |
| GOOGL | REDUCED | 115,450 | 172,879 | -33.22% | 40,792,145 |
| BKNG | ADDED | 194,765 | 6,143 | 3070.52% | 34,714,895 |
| CARR | REDUCED | 472,778 | 511,137 | -7.5% | 34,678,263 |
| ZTS | ADDED | 465,449 | 141,863 | 228.1% | 33,447,156 |
| ACGL | REDUCED | 333,833 | 364,086 | -8.31% | 32,401,831 |
| BF-B | REDUCED | 1,152,060 | 1,237,621 | -6.91% | 30,702,392 |
| MLM | REDUCED | 52,207 | 56,855 | -8.18% | 30,107,703 |
| MORN | REDUCED | 166,257 | 177,568 | -6.37% | 25,939,404 |
| BRO | REDUCED | 384,292 | 403,060 | -4.66% | 24,652,319 |
| GD | REDUCED | 65,990 | 70,894 | -6.92% | 23,376,263 |
| ECL | REDUCED | 83,581 | 89,454 | -6.57% | 23,286,433 |
| TTC | REDUCED | 233,646 | 250,943 | -6.89% | 22,761,783 |
| KEYS | REDUCED | 64,599 | 179,504 | -64.01% | 22,614,172 |
| DCI | REDUCED | 247,292 | 265,723 | -6.94% | 22,199,413 |
| STZ | REDUCED | 159,566 | 171,647 | -7.04% | 22,193,993 |
| NJR | REDUCED | 387,609 | 416,958 | -7.04% | 21,721,597 |
| SHW | REDUCED | 62,256 | 66,450 | -6.31% | 21,436,014 |
| RLI | REDUCED | 360,253 | 382,149 | -5.73% | 21,280,167 |
| ATR | NEW | 160,935 | - | - | 20,149,062 |
| EOG | REDUCED | 154,361 | 165,675 | -6.83% | 20,025,223 |
| RMD | REDUCED | 94,086 | 99,845 | -5.77% | 18,335,407 |
| TREX | REDUCED | 354,325 | 390,641 | -9.3% | 17,730,423 |
| PG | REDUCED | 116,816 | 123,362 | -5.31% | 17,129,945 |
| DLTR | REDUCED | 134,143 | 146,113 | -8.19% | 16,224,656 |
| VVV | REDUCED | 396,145 | 431,559 | -8.21% | 15,663,573 |
| MDT | REDUCED | 195,240 | 205,401 | -4.95% | 15,273,652 |
| BDX | REDUCED | 89,902 | 93,498 | -3.85% | 13,604,871 |
| NKE | REDUCED | 279,383 | 282,354 | -1.05% | 11,468,691 |
| DIS | REDUCED | 113,021 | 123,156 | -8.23% | 10,878,292 |
| VNT | REDUCED | 365,615 | 384,294 | -4.86% | 10,602,849 |
| CPRT | REDUCED | 292,941 | 313,965 | -6.7% | 8,258,007 |
| FND | NEW | 130,016 | - | - | 7,717,750 |
| JBTM | REDUCED | 49,946 | 55,124 | -9.39% | 7,242,108 |
| RYAN | NEW | 189,001 | - | - | 7,136,678 |
| SPY | REDUCED | 8,922 | 11,922 | -25.16% | 6,662,682 |
| STVN | NEW | 335,493 | - | - | 6,062,359 |
| TRIP | REDUCED | 376,853 | 410,791 | -8.26% | 5,166,654 |
| IIIV | ADDED | 230,530 | 120,314 | 91.61% | 4,924,121 |
| MAIN | ADDED | 93,486 | 90,958 | 2.78% | 4,850,054 |
| MTN | REDUCED | 34,082 | 37,203 | -8.39% | 4,640,264 |
| CVCO | REDUCED | 7,310 | 7,990 | -8.51% | 4,491,118 |
| HTGC | ADDED | 276,182 | 273,343 | 1.04% | 4,355,391 |
| GBDC | ADDED | 327,523 | 326,878 | 0.2% | 4,218,496 |
| TSLX | ADDED | 211,954 | 207,790 | 2.0% | 3,639,250 |
| AEM | REDUCED | 22,732 | 23,296 | -2.42% | 3,526,426 |
| OBDC | ADDED | 263,324 | 224,365 | 17.36% | 2,862,334 |
| BBDC | REDUCED | 306,261 | 307,872 | -0.52% | 2,609,344 |
| CSWC | ADDED | 95,362 | 95,339 | 0.02% | 2,266,755 |
| DISPF | REDUCED | 42,521 | 42,798 | -0.65% | 2,226,825 |
| MUFG | REDUCED | 106,721 | 111,432 | -4.23% | 2,122,681 |
| BWIN | REDUCED | 77,621 | 638,637 | -87.85% | 2,063,166 |
| NMFC | ADDED | 277,609 | 277,571 | 0.01% | 1,990,456 |
| AER | REDUCED | 13,112 | 13,613 | -3.68% | 1,911,467 |
| CNR | ADDED | 23,555 | 22,176 | 6.22% | 1,884,871 |
| GTES | REDUCED | 65,517 | 71,924 | -8.91% | 1,832,511 |
| WDS | ADDED | 90,282 | 87,146 | 3.6% | 1,744,248 |
| VIST | ADDED | 27,270 | 26,827 | 1.65% | 1,739,826 |
| SCCO | ADDED | 9,672 | 9,322 | 3.75% | 1,685,525 |
| RBC | REDUCED | 2,552 | 2,722 | -6.25% | 1,643,642 |
| SPB | REDUCED | 19,165 | 20,397 | -6.04% | 1,643,425 |
| GLCNF | ADDED | 119,809 | 117,159 | 2.26% | 1,630,600 |
| CVE | ADDED | 64,557 | 63,727 | 1.3% | 1,601,659 |
| HGTY | REDUCED | 132,055 | 140,841 | -6.24% | 1,574,096 |
| STC | REDUCED | 23,716 | 25,461 | -6.85% | 1,565,752 |
| HAYW | REDUCED | 88,331 | 93,408 | -5.44% | 1,529,009 |
| UFPI | ADDED | 16,254 | 12,900 | 26.0% | 1,474,901 |
| HAE | REDUCED | 19,455 | 20,624 | -5.67% | 1,459,125 |
| KN | REDUCED | 35,005 | 76,922 | -54.49% | 1,452,008 |
| ESAB | ADDED | 14,709 | 11,817 | 24.47% | 1,450,749 |
| TRMOY | NEW | 33,988 | - | - | 1,420,970 |
| TKOMY | ADDED | 30,795 | 30,534 | 0.85% | 1,364,526 |
| MOV | REDUCED | 34,155 | 74,555 | -54.19% | 1,342,639 |
| SHEL | ADDED | 17,202 | 16,435 | 4.67% | 1,333,843 |
| CF | NEW | 12,115 | - | - | 1,311,570 |
| CCJ | ADDED | 12,856 | 9,022 | 42.5% | 1,309,512 |
| MRTN | REDUCED | 75,256 | 80,613 | -6.65% | 1,305,698 |
| UFPT | REDUCED | 4,851 | 5,097 | -4.83% | 1,286,145 |
| FNV | ADDED | 6,167 | 5,863 | 5.19% | 1,285,449 |
| OCSL | REDUCED | 105,926 | 106,851 | -0.87% | 1,264,756 |
| CNQ | ADDED | 31,974 | 30,370 | 5.28% | 1,262,973 |
| WPM | ADDED | 11,175 | 10,617 | 5.26% | 1,255,176 |
| VMC | ADDED | 4,194 | 3,913 | 7.18% | 1,237,272 |
| RGLD | ADDED | 6,162 | 5,877 | 4.85% | 1,229,997 |
| EQT | ADDED | 22,743 | 21,354 | 6.5% | 1,209,245 |
| MFIC | ADDED | 118,551 | 117,182 | 1.17% | 1,194,994 |
| ITOCF | ADDED | 103,063 | 101,904 | 1.14% | 1,174,918 |
| SONY | REDUCED | 58,461 | 58,946 | -0.82% | 1,172,728 |
| AGI | ADDED | 36,903 | 35,226 | 4.76% | 1,119,637 |
| BCSF | ADDED | 87,630 | 86,684 | 1.09% | 1,097,127 |
| EXE | ADDED | 11,412 | 10,542 | 8.25% | 1,040,660 |
| MSDL | ADDED | 67,513 | 67,321 | 0.29% | 1,020,797 |
| UL | ADDED | 16,848 | 15,411 | 9.32% | 1,012,922 |
| KBDC | REDUCED | 74,821 | 74,967 | -0.19% | 1,012,328 |
| SHOP | REDUCED | 8,814 | 9,298 | -5.21% | 1,006,383 |
| HLN | ADDED | 106,258 | 104,389 | 1.79% | 991,387 |
| CNMD | REDUCED | 30,055 | 93,530 | -67.87% | 983,685 |
| ASX | REDUCED | 20,488 | 21,543 | -4.9% | 924,419 |
| SE | ADDED | 9,535 | 8,232 | 15.83% | 913,739 |
| CW | UNCHANGED | 1,160 | 1,160 | 0.0% | 879,002 |
| TRIN | ADDED | 48,503 | 41,824 | 15.97% | 867,719 |
| NVO | ADDED | 17,385 | 15,686 | 10.83% | 833,437 |
| AXP | UNCHANGED | 2,400 | 2,400 | 0.0% | 811,800 |
| BABA | ADDED | 8,318 | 7,690 | 8.17% | 798,362 |
| JJSF | REDUCED | 10,779 | 11,155 | -3.37% | 791,701 |
| SLRC | REDUCED | 63,853 | 63,966 | -0.18% | 789,866 |
| BMI | NEW | 5,290 | - | - | 784,930 |
| FELE | REDUCED | 6,690 | 7,033 | -4.88% | 717,101 |
| NBIS | ADDED | 2,475 | 2,427 | 1.98% | 683,521 |
| MSIF | REDUCED | 54,422 | 54,855 | -0.79% | 629,662 |
| GFI | ADDED | 15,745 | 14,856 | 5.98% | 528,875 |
| KB | ADDED | 4,964 | 4,654 | 6.66% | 520,980 |
| CCAP | ADDED | 35,410 | 32,223 | 9.89% | 386,677 |
| BAP | ADDED | 946 | 885 | 6.89% | 368,543 |
| IBN | ADDED | 12,186 | 10,957 | 11.22% | 353,760 |
| OTF | NEW | 31,100 | - | - | 321,885 |
| ZTO | ADDED | 13,966 | 12,540 | 11.37% | 312,559 |
| ERO | NEW | 11,428 | - | - | 305,074 |
| HTHT | ADDED | 6,855 | 6,122 | 11.97% | 285,991 |
| NU | NEW | 21,385 | - | - | 285,704 |
| GLD | UNCHANGED | 718 | 718 | 0.0% | 264,497 |
| YUMC | ADDED | 6,395 | 5,626 | 13.67% | 261,364 |
| MELI | ADDED | 149 | 130 | 14.62% | 252,911 |
| MMYT | NEW | 4,680 | - | - | 249,397 |
| BIDU | ADDED | 2,089 | 1,817 | 14.97% | 238,752 |
| JBS | ADDED | 19,326 | 16,481 | 17.26% | 229,013 |
| EC | ADDED | 15,465 | 13,438 | 15.08% | 220,222 |
| AMP | UNCHANGED | 480 | 480 | 0.0% | 220,205 |
| JPM | REDUCED | 653 | 685 | -4.67% | 213,746 |
| VALE | ADDED | 14,117 | 11,998 | 17.66% | 212,320 |
| WCN | NEW | 1,244 | - | - | 207,362 |
| NVDA | NEW | 1,013 | - | - | 202,691 |
| PSBD | REDUCED | 19,157 | 20,681 | -7.37% | 199,616 |
| INFY | ADDED | 17,636 | 14,810 | 19.08% | 185,000 |
| ARCO | ADDED | 21,798 | 18,015 | 21.0% | 175,692 |
| PAGS | NEW | 13,835 | - | - | 125,207 |
| ELME | UNCHANGED | 22,103 | 22,103 | 0.0% | 32,712 |
| SBUX | CLOSED OUT | 0 | 315,131 | -100.0% | 0 |
| DNN | CLOSED OUT | 0 | 313,086 | -100.0% | 0 |
| FSK | CLOSED OUT | 0 | 147,605 | -100.0% | 0 |
| NXE | CLOSED OUT | 0 | 90,230 | -100.0% | 0 |
| UEC | CLOSED OUT | 0 | 76,801 | -100.0% | 0 |
| ENOV | CLOSED OUT | 0 | 39,936 | -100.0% | 0 |
| WGO | CLOSED OUT | 0 | 26,585 | -100.0% | 0 |
| FCX | CLOSED OUT | 0 | 22,870 | -100.0% | 0 |
| RWAY | CLOSED OUT | 0 | 14,216 | -100.0% | 0 |
| COST | CLOSED OUT | 0 | 210 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | iShares 0-3 Month Treasury Bon | COM | 46436E718 | 279,805,680 | 4.37 | 2779435.0 | |
| SNA | REDUCED | Snap-on Inc. | COM | 833034101 | 167,331,932 | 2.61 | 415835.0 |
| CB | REDUCED | Chubb Ltd. | COM | H1467J104 | 156,482,392 | 2.44 | 459243.0 |
| LIN | REDUCED | Linde plc | COM | G54950103 | 140,033,834 | 2.19 | 269846.0 |
| WEC | REDUCED | WEC Energy Group Inc. | COM | 92939U106 | 138,670,220 | 2.17 | 1187550.0 |
| FAST | REDUCED | Fastenal Co. | COM | 311900104 | 135,476,630 | 2.12 | 2820667.0 |
| - | Entergy Corp. | COM | 29364G103 | 132,334,256 | 2.07 | 1152135.0 | |
| LMT | REDUCED | Lockheed Martin Corp. | COM | 539830109 | 131,294,479 | 2.05 | 257713.0 |
| SO | REDUCED | Southern Co. | COM | 842587107 | 130,753,264 | 2.04 | 1366140.0 |
| SWK | NEW | Stanley Black & Decker Inc. | COM | 854502101 | 126,371,838 | 1.97 | 1342667.0 |
| CVX | REDUCED | Chevron Corp. | COM | 166764100 | 122,775,818 | 1.92 | 740684.0 |
| - | Progressive Corp. | COM | 743315103 | 121,319,186 | 1.9 | 555364.0 | |
| - | Clorox Co. | COM | 189054109 | 118,713,305 | 1.85 | 1243853.0 | |
| MDLZ | REDUCED | Mondelez International Inc. | COM | 609207105 | 117,868,666 | 1.84 | 2037840.0 |
| ADI | REDUCED | Analog Devices Inc. | COM | 032654105 | 116,178,716 | 1.82 | 292516.0 |
| HSY | REDUCED | Hershey Co. | COM | 427866108 | 115,909,849 | 1.81 | 660643.0 |
| NTRS | REDUCED | Northern Trust Corp. | COM | 665859104 | 114,397,442 | 1.79 | 658062.0 |
| CL | REDUCED | Colgate-Palmolive Co. | COM | 194162103 | 110,565,534 | 1.73 | 1205994.0 |
| HD | REDUCED | Home Depot Inc. | COM | 437076102 | 109,436,248 | 1.71 | 310299.0 |
| KMI | REDUCED | Kinder Morgan Inc. | COM | 49456B101 | 107,313,921 | 1.68 | 3356707.0 |
| - | T. Rowe Price Group Inc. | COM | 74144T108 | 106,155,277 | 1.66 | 933726.0 | |
| GILD | REDUCED | Gilead Sciences Inc. | COM | 375558103 | 104,808,671 | 1.64 | 829576.0 |
| - | U.S. Bancorp | COM | 902973304 | 104,432,235 | 1.63 | 1729011.0 | |
| AWK | REDUCED | American Water Works Co. Inc. | COM | 030420103 | 102,349,777 | 1.6 | 777852.0 |
| CSCO | REDUCED | Cisco Systems Inc. | COM | 17275R102 | 98,523,130 | 1.54 | 838780.0 |
| PAYX | REDUCED | Paychex Inc. | COM | 704326107 | 93,375,045 | 1.46 | 949609.0 |
| - | Fidelity National Financial In | COM | 31620R303 | 89,691,820 | 1.4 | 1901862.0 | |
| NDSN | REDUCED | Nordson Corp. | COM | 655663102 | 84,569,321 | 1.32 | 280319.0 |
| - | SPDR Portfolio Mortgage Backed | COM | 78464A383 | 75,195,877 | 1.17 | 3370501.0 | |
| - | SPDR Portfolio Developed World | COM | 78463X889 | 74,664,526 | 1.17 | 1481733.0 | |
| - | W. R. Berkley Corp. | COM | 084423102 | 72,564,775 | 1.13 | 1028850.0 | |
| BR | REDUCED | Broadridge Financial Solutions | COM | 11133T103 | 71,340,031 | 1.11 | 520920.0 |
| MA | REDUCED | Mastercard Inc. | COM | 57636Q104 | 69,912,212 | 1.09 | 136122.0 |
| - | SPDR Portfolio S&P 500 Growth | COM | 78464A409 | 68,210,291 | 1.07 | 573244.0 | |
| SYK | ADDED | Stryker Corp. | COM | 863667101 | 66,555,559 | 1.04 | 211395.0 |
| - | SPDR Portfolio S&P 500 Value E | COM | 78464a508 | 63,618,659 | 0.99 | 1046532.0 | |
| - | Masco Corp. | COM | 574599106 | 62,468,096 | 0.98 | 767704.0 | |
| DEO | REDUCED | Diageo plc | COM | 25243Q205 | 62,161,660 | 0.97 | 773347.0 |
| - | TJX Co. Inc. | COM | 872540109 | 61,453,808 | 0.96 | 405636.0 | |
| - | Air Products and Chemicals Inc | COM | 009158106 | 59,409,094 | 0.93 | 202637.0 | |
| ARCC | REDUCED | Ares Capital Corp. | COM | 04010L103 | 58,654,894 | 0.92 | 3165402.0 |
| SPGI | ADDED | S&P Global Inc. | COM | 78409V104 | 57,499,499 | 0.9 | 141186.0 |
| HON | REDUCED | Honeywell International Inc. | COM | 438516205 | 53,646,328 | 0.84 | 239600.0 |
| MSFT | REDUCED | Microsoft Corp. | COM | 594918104 | 53,098,036 | 0.83 | 142346.0 |
| HONA | NEW | Honeywell Aerospace Inc. | COM | 43849R105 | 53,080,101 | 0.83 | 240095.0 |
| ITW | REDUCED | Illinois Tool Works Inc. | COM | 452308109 | 52,147,453 | 0.81 | 192803.0 |
| DOW | REDUCED | Dow Inc. | COM | 260557103 | 50,419,371 | 0.79 | 1842813.0 |
| PAYC | REDUCED | Paycom Software Inc. | COM | 70432V102 | 46,803,886 | 0.73 | 372405.0 |
| TMO | ADDED | Thermo Fisher Scientific Inc. | COM | 883556102 | 46,328,684 | 0.72 | 92406.0 |
| BRK-B | REDUCED | Berkshire Hathaway Inc. - B | COM | 084670702 | 43,133,868 | 0.67 | 86200.0 |
| ACN | ADDED | Accenture plc | COM | G1151C101 | 42,389,736 | 0.66 | 340644.0 |
| NXPI | REDUCED | NXP Semiconductors N.V. | COM | N6596X109 | 42,359,110 | 0.66 | 150728.0 |
| - | Lowe's Co. Inc. | COM | 548661107 | 42,356,765 | 0.66 | 192103.0 | |
| - | SPDR Gold MiniShares Trust ETF | COM | 98149E303 | 41,474,792 | 0.65 | 522221.0 | |
| GGG | REDUCED | Graco Inc. | COM | 384109104 | 41,384,523 | 0.65 | 547342.0 |
| GOOGL | REDUCED | Alphabet Inc. | COM | 02079K107 | 40,615,397 | 0.63 | 114950.0 |
| BKNG | ADDED | Booking Holdings Inc. | COM | 09857L108 | 34,643,243 | 0.54 | 194363.0 |
| CARR | REDUCED | Carrier Global Corp. | COM | 14448c104 | 34,493,360 | 0.54 | 470257.0 |
| - | iShares Barclays 10-20 Year Tr | COM | 464288653 | 33,675,553 | 0.53 | 335581.0 | |
| ZTS | ADDED | Zoetis Inc. | COM | 98978V103 | 33,404,687 | 0.52 | 464858.0 |
| ACGL | REDUCED | Arch Capital Group Ltd. | COM | G0450A105 | 32,334,957 | 0.51 | 333144.0 |
| BF-B | REDUCED | Brown-Forman Corp. - B | COM | 115637209 | 30,580,761 | 0.48 | 1147496.0 |
| MLM | REDUCED | Martin Marietta Materials Inc. | COM | 573284106 | 30,043,113 | 0.47 | 52095.0 |
| - | iShares MBS ETF | COM | 464288588 | 28,689,443 | 0.45 | 303528.0 | |
| - | iShares iBonds Dec 2035 Term T | COM | 46438G422 | 26,202,487 | 0.41 | 1044548.0 | |
| MORN | REDUCED | Morningstar Inc. | COM | 617700109 | 25,820,234 | 0.4 | 165493.0 |
| BRO | REDUCED | Brown & Brown Inc. | COM | 115236101 | 24,652,319 | 0.39 | 384292.0 |
| - | iShares iBonds Dec 2034 Term T | COM | 46438G646 | 24,498,982 | 0.38 | 965101.0 | |
| - | Expeditors International of Wa | COM | 302130109 | 24,164,811 | 0.38 | 148269.0 | |
| - | iShares iBonds Dec 2033 Term T | COM | 46436E148 | 23,852,424 | 0.37 | 988431.0 | |
| GD | REDUCED | General Dynamics Corp. | COM | 369550108 | 23,376,263 | 0.37 | 65990.0 |
| ECL | REDUCED | Ecolab Inc. | COM | 278865100 | 23,286,433 | 0.36 | 83581.0 |
| TTC | REDUCED | Toro Co. | COM | 891092108 | 22,761,783 | 0.36 | 233646.0 |
| KEYS | REDUCED | Keysight Technologies Inc. | COM | 49338L103 | 22,519,653 | 0.35 | 64329.0 |
| DCI | REDUCED | Donaldson Co. Inc. | COM | 257651109 | 22,199,413 | 0.35 | 247292.0 |
| - | iShares iBonds Dec 2031 Term T | COM | 46436e460 | 22,178,799 | 0.35 | 1098504.0 | |
| STZ | REDUCED | Constellation Brands | COM | 21036P108 | 22,142,530 | 0.35 | 159196.0 |
| NJR | REDUCED | New Jersey Resources Corp. | COM | 646025106 | 21,721,597 | 0.34 | 387609.0 |
| SHW | REDUCED | Sherwin-Williams Co. | COM | 824348106 | 21,436,014 | 0.33 | 62256.0 |
| RLI | REDUCED | RLI Corp. | COM | 749607107 | 21,257,898 | 0.33 | 359876.0 |
| - | Amphenol Corp. | COM | 032095101 | 20,979,826 | 0.33 | 118987.0 | |
| - | Charles River Laboratories Int | COM | 159864107 | 20,491,384 | 0.32 | 90354.0 | |
| ATR | NEW | AptarGroup Inc. | COM | 038336103 | 20,149,062 | 0.31 | 160935.0 |
| - | SPDR S&P Dividend ETF | COM | 78464A763 | 20,122,914 | 0.31 | 132231.0 | |
| EOG | REDUCED | EOG Resources Inc. | COM | 26875P101 | 20,025,223 | 0.31 | 154361.0 |
| - | A. O. Smith Corp. | COM | 831865209 | 19,569,440 | 0.31 | 312013.0 | |
| RMD | REDUCED | ResMed Inc. | COM | 761152107 | 18,335,407 | 0.29 | 94086.0 |
| - | McDonald's Corp. | COM | 580135101 | 17,800,782 | 0.28 | 65853.0 | |
| TREX | REDUCED | Trex Company Inc. | COM | 89531P105 | 17,540,972 | 0.27 | 350539.0 |
| - | iShares Core MSCI Europe ETF | COM | 46434V738 | 17,221,522 | 0.27 | 229101.0 | |
| PG | REDUCED | Procter & Gamble Co. | COM | 742718109 | 17,129,945 | 0.27 | 116816.0 |
| - | iShares iBonds Dec 2032 Term T | COM | 46436E296 | 16,700,047 | 0.26 | 735847.0 | |
| DLTR | REDUCED | Dollar Tree Inc. | COM | 256746108 | 16,004,285 | 0.25 | 132321.0 |
| - | Global X Defense Tech ETF | COM | 37960A529 | 15,692,087 | 0.25 | 262805.0 | |
| VVV | REDUCED | Valvoline Inc. | COM | 92047W101 | 15,499,759 | 0.24 | 392002.0 |
| MDT | REDUCED | Medtronic plc | COM | G5960L103 | 15,273,652 | 0.24 | 195240.0 |
| BDX | REDUCED | Becton Dickinson & Co. | COM | 075887109 | 13,604,871 | 0.21 | 89902.0 |
| - | Avantis International Small Ca | COM | 025072802 | 12,945,244 | 0.2 | 125621.0 | |
| - | State Street Energy Select Sec | COM | 81369Y506 | 12,241,271 | 0.19 | 230489.0 | |
| NKE | REDUCED | NIKE Inc. | COM | 654106103 | 11,468,691 | 0.18 | 279383.0 |
| DIS | REDUCED | Walt Disney Co. | COM | 254687106 | 10,760,578 | 0.17 | 111798.0 |
| VNT | REDUCED | Vontier Corp. | COM | 928881101 | 10,479,737 | 0.16 | 361370.0 |
| - | Dimensional National Municipal | COM | 25434V849 | 9,165,669 | 0.14 | 189628.0 | |
| - | iShares MSCI Global Metals & M | COM | 46434G848 | 8,842,754 | 0.14 | 152068.0 | |
| CPRT | REDUCED | Copart Inc. | COM | 217204106 | 8,166,079 | 0.13 | 289680.0 |
| FND | NEW | Floor & Decor Holdings Inc. | COM | 339750101 | 7,717,750 | 0.12 | 130016.0 |
| - | Invesco BulletShares 2034 Muni | COM | 46139W767 | 7,480,807 | 0.12 | 303465.0 | |
| JBTM | REDUCED | JBT Marel Corp. | COM | 477839104 | 7,137,273 | 0.11 | 49223.0 |
| RYAN | NEW | Ryan Specialty Group | COM | 78351F107 | 7,064,934 | 0.11 | 187101.0 |
| - | Vanguard FTSE Pacific Index Fu | COM | 922042866 | 6,990,453 | 0.11 | 60424.0 | |
| SPY | REDUCED | SPDR S&P 500 ETF | COM | 78462F103 | 6,662,682 | 0.1 | 8922.0 |
| - | iShares iBonds Dec 2030 Term T | COM | 46436e593 | 6,309,436 | 0.1 | 322898.0 | |
| - | Invesco BulletShares 2031 Muni | COM | 46138j411 | 6,102,984 | 0.1 | 290826.0 | |
| STVN | NEW | Stevanato Group S.p.A. | COM | T9224W109 | 5,942,609 | 0.09 | 328866.0 |
| - | Invesco Bulletshares 2033 Muni | COM | 46139W791 | 5,687,396 | 0.09 | 220399.0 | |
| - | VanEck Gold Miners ETF | COM | 92189F106 | 5,305,267 | 0.08 | 70315.0 | |
| - | Invesco BulletShares 2035 Muni | COM | 46138J353 | 5,287,368 | 0.08 | 206255.0 | |
| TRIP | REDUCED | TripAdvisor Inc. | COM | 896945201 | 5,069,053 | 0.08 | 369734.0 |
| - | Invesco BulletShares 2032 Munc | COM | 46139W833 | 4,958,940 | 0.08 | 197253.0 | |
| IIIV | ADDED | i3 Verticals Inc. | COM | 46571Y107 | 4,825,502 | 0.08 | 225913.0 |
| MTN | REDUCED | Vail Resorts Inc. | COM | 91879Q109 | 4,552,311 | 0.07 | 33436.0 |
| - | Powershares Insured National M | COM | 46138E537 | 4,532,586 | 0.07 | 192712.0 | |
| CVCO | REDUCED | Cavco Industries Inc. | COM | 149568107 | 4,406,948 | 0.07 | 7173.0 |
| MAIN | ADDED | Main Street Capital Corp. | COM | 56035L104 | 4,005,551 | 0.06 | 77208.0 |
| BRK-B | REDUCED | Berkshire Hathaway Inc. - A | COM | 084670108 | 3,744,250 | 0.06 | 5.0 |
| - | Taiwan Semiconductor Manufactu | COM | 874039100 | 3,640,039 | 0.06 | 7622.0 | |
| HTGC | ADDED | Hercules Capital Inc. | COM | 427096508 | 3,619,310 | 0.06 | 229506.0 |
| ARCC | REDUCED | Ares Capital Corp. | COM | 04010L103 | 3,543,585 | 0.06 | 191235.0 |
| AEM | REDUCED | Agnico Eagle Mines Ltd. | COM | 008474108 | 3,526,426 | 0.06 | 22732.0 |
| - | iShares National Muni Bond ETF | COM | 464288414 | 3,239,147 | 0.05 | 30098.0 | |
| GBDC | ADDED | Golub Capital BDC Inc. | COM | 38173M102 | 3,224,353 | 0.05 | 250338.0 |
| - | BondBloxx Bloomberg One Year T | COM | 09789C861 | 2,985,601 | 0.05 | 60474.0 | |
| - | ASML Holding N.V. | COM | N07059210 | 2,862,804 | 0.04 | 1439.0 | |
| - | Blackstone Secured Lending Fun | COM | 09261X102 | 2,767,573 | 0.04 | 116726.0 | |
| TSLX | ADDED | Sixth Street Specialty Lending | COM | 83012A109 | 2,710,370 | 0.04 | 157855.0 |
| - | iShares Russell 1000 Value ETF | COM | 464287598 | 2,543,576 | 0.04 | 10492.0 | |
| - | Invesco BulletShares 2030 Muni | COM | 46138J445 | 2,513,482 | 0.04 | 114674.0 | |
| - | Sandoz Group | COM | 799926100 | 2,455,989 | 0.04 | 27141.0 | |
| DISPF | REDUCED | Disco Corp. | COM | 25461D100 | 2,226,825 | 0.03 | 42521.0 |
| - | iShares iBonds Dec 2029 Term M | COM | 46436E163 | 2,221,117 | 0.03 | 87480.0 | |
| - | Invesco BulletShares 2029 Muni | COM | 46138J478 | 2,220,668 | 0.03 | 96425.0 | |
| OBDC | ADDED | Blue Owl Capital Corp. | COM | 69121K104 | 2,189,620 | 0.03 | 201437.0 |
| MUFG | REDUCED | Mitsubishi UFJ Financial | COM | 606822104 | 2,122,681 | 0.03 | 106721.0 |
| BWIN | REDUCED | Baldwin Insurance Group Inc. | COM | 05589g102 | 2,028,718 | 0.03 | 76325.0 |
| - | SPDR Industrial Select Sector | COM | 81369Y704 | 2,009,560 | 0.03 | 10849.0 | |
| AER | REDUCED | AerCap Holdings N.V. | COM | N00985106 | 1,911,467 | 0.03 | 13112.0 |
| - | DBS Group Holdings Ltd. | COM | 23304y100 | 1,901,485 | 0.03 | 9372.0 | |
| CNR | ADDED | Core Natural Resources Inc. | COM | 218937100 | 1,884,871 | 0.03 | 23555.0 |
| - | Techtronic Industries Co. Ltd. | COM | 87873R101 | 1,844,641 | 0.03 | 22118.0 | |
| - | Xtrackers Municipal Infrastruc | COM | 233051705 | 1,824,927 | 0.03 | 72103.0 | |
| GTES | REDUCED | Gates Industrial Corp. plc | COM | G39108108 | 1,799,758 | 0.03 | 64346.0 |
| - | ING Groep N.V. | COM | 456837103 | 1,775,763 | 0.03 | 56589.0 | |
| WDS | ADDED | Woodside Energy Group Ltd. | COM | 980228308 | 1,744,248 | 0.03 | 90282.0 |
| VIST | ADDED | Vista Energy S.A.B. de C.V. | COM | 92837L109 | 1,739,826 | 0.03 | 27270.0 |
| BBDC | REDUCED | Barings BDC Inc. | COM | 06759l103 | 1,718,348 | 0.03 | 201684.0 |
| - | Safran S.A. | COM | 786584102 | 1,706,557 | 0.03 | 17366.0 | |
| - | Lundin Mining Corp. | COM | 550372106 | 1,696,369 | 0.03 | 69752.0 | |
| SCCO | ADDED | Southern Copper Corp. | COM | 84265V105 | 1,685,525 | 0.03 | 9672.0 |
| - | iShares iBonds Dec 2028 Term M | COM | 46435U325 | 1,652,519 | 0.03 | 64602.0 | |
| - | Amglo Am PLC ADR | COM | 03485P409 | 1,630,638 | 0.03 | 65991.0 | |
| GLCNF | ADDED | Glencore plc | COM | 37827X100 | 1,630,600 | 0.03 | 119809.0 |
| RBC | REDUCED | RBC Bearings Inc. | COM | 75524B104 | 1,615,947 | 0.03 | 2509.0 |
| SPB | REDUCED | Spectrum Brands Holdings Inc. | COM | 84790a105 | 1,613,756 | 0.03 | 18819.0 |
| CVE | ADDED | Cenovus Energy Inc. | COM | 15135U109 | 1,601,659 | 0.03 | 64557.0 |
| - | First Quantum Minerals Ltd. | COM | 335934105 | 1,595,444 | 0.02 | 58484.0 | |
| CSWC | ADDED | Capital Southwest Corp. | COM | 140501107 | 1,592,923 | 0.02 | 67014.0 |
| HGTY | REDUCED | Hagerty Inc. | COM | 405166109 | 1,546,620 | 0.02 | 129750.0 |
| STC | REDUCED | Stewart Information Services C | COM | 860372101 | 1,539,806 | 0.02 | 23323.0 |
| - | Zurich Insurance Group A.G. | COM | 989825104 | 1,539,704 | 0.02 | 41635.0 | |
| - | BNP Paribas S.A. | COM | 05565A202 | 1,507,328 | 0.02 | 25868.0 | |
| HAYW | REDUCED | Hayward Holdings Inc. | COM | 421298100 | 1,503,408 | 0.02 | 86852.0 |
| - | Newmont Mining Corp. | COM | 651639106 | 1,451,249 | 0.02 | 15538.0 | |
| UFPI | ADDED | UFP Industries Inc. | COM | 90278Q108 | 1,449,766 | 0.02 | 15977.0 |
| HAE | REDUCED | Haemonetics Corp. | COM | 405024100 | 1,434,225 | 0.02 | 19123.0 |
| KN | REDUCED | Knowles Corp. | COM | 49926D109 | 1,427,244 | 0.02 | 34408.0 |
| ESAB | ADDED | ESAB Corp. | COM | 29605J106 | 1,425,993 | 0.02 | 14458.0 |
| - | Hong Kong Exchanges and Cleari | COM | 43858F109 | 1,424,822 | 0.02 | 30787.0 | |
| TRMOY | NEW | Tourmaline Oil Corp. | COM | 89156V106 | 1,420,970 | 0.02 | 33988.0 |
| - | VanEck Junior Gold Miners ETF | COM | 92189F791 | 1,414,112 | 0.02 | 14393.0 | |
| NMFC | ADDED | New Mountain Finance Corp. | COM | 647551100 | 1,410,977 | 0.02 | 196789.0 |
| TKOMY | ADDED | Tokio Marine Holdings Inc. | COM | 889094108 | 1,364,526 | 0.02 | 30795.0 |
| - | Exxon Mobil Corp. | COM | 30231G102 | 1,337,688 | 0.02 | 9784.0 | |
| SHEL | ADDED | Shell plc | COM | 780259305 | 1,333,843 | 0.02 | 17202.0 |
| MOV | REDUCED | Movado Group Inc. | COM | 624580106 | 1,319,800 | 0.02 | 33574.0 |
| - | BAE Systems plc | COM | 05523r107 | 1,314,489 | 0.02 | 13420.0 | |
| CF | NEW | CF Industries Holdings Inc. | COM | 125269100 | 1,311,570 | 0.02 | 12115.0 |
| CCJ | ADDED | Cameco Corp. | COM | 13321L108 | 1,309,512 | 0.02 | 12856.0 |
| - | BP PLC ADR (1:6) | COM | 055622104 | 1,302,968 | 0.02 | 35263.0 | |
| - | Mitsui & Co. Ltd. | COM | 606827202 | 1,293,607 | 0.02 | 2336.0 | |
| - | Occidental Petroleum Corp. | COM | 674599105 | 1,290,262 | 0.02 | 26565.0 | |
| FNV | ADDED | Franco-Nevada Corp. | COM | 351858105 | 1,285,449 | 0.02 | 6167.0 |
| MRTN | REDUCED | Marten Transport Ltd. | COM | 573075108 | 1,280,263 | 0.02 | 73790.0 |
| - | Lynas Rare Earths Ltd. | COM | 551073307 | 1,267,196 | 0.02 | 100731.0 | |
| - | CRH plc | COM | G25508105 | 1,265,061 | 0.02 | 11823.0 | |
| UFPT | REDUCED | UFP Technologies Inc. | COM | 902673102 | 1,264,935 | 0.02 | 4771.0 |
| CNQ | ADDED | Canadian Natural Resources Ltd | COM | 136385101 | 1,262,973 | 0.02 | 31974.0 |
| - | Littelfuse Inc. | COM | 537008104 | 1,258,532 | 0.02 | 2764.0 | |
| WPM | ADDED | Wheaton Precious Metals Corp. | COM | 962879102 | 1,255,176 | 0.02 | 11175.0 |
| VMC | ADDED | Vulcan Materials Co. | COM | 929160109 | 1,237,272 | 0.02 | 4194.0 |
| RGLD | ADDED | Royal Gold Inc. | COM | 780287108 | 1,229,997 | 0.02 | 6162.0 |
| EQT | ADDED | EQT Corp. | COM | 26884L109 | 1,209,245 | 0.02 | 22743.0 |
| - | John B Sanfilippo & Son Inc. | COM | 800422107 | 1,197,750 | 0.02 | 13929.0 | |
| - | Devon Energy Corp. | COM | 25179M103 | 1,195,264 | 0.02 | 28927.0 | |
| ITOCF | ADDED | ITOCHU Corp. | COM | 465717106 | 1,174,918 | 0.02 | 103063.0 |
| SONY | REDUCED | Sony Group Corp. | COM | 835699307 | 1,172,728 | 0.02 | 58461.0 |
| - | L'Oreal S.A. | COM | 502117203 | 1,157,772 | 0.02 | 13200.0 | |
| AGI | ADDED | Alamos Gold Inc. | COM | 011532108 | 1,119,637 | 0.02 | 36903.0 |
| - | Chugai Pharms Co. Ltd. | COM | 171269103 | 1,101,193 | 0.02 | 47712.0 | |
| - | Komatsu Ltd. | COM | 500458401 | 1,092,528 | 0.02 | 27992.0 | |
| - | Altus Group Ltd. | COM | 02215R107 | 1,081,984 | 0.02 | 34132.0 | |
| - | Roche Holding A.G. | COM | 771195104 | 1,074,499 | 0.02 | 20925.0 | |
| - | Aberdeen Physical Platinum Sha | COM | 003260106 | 1,059,962 | 0.02 | 75015.0 | |
| EXE | ADDED | Expand Energy Corp. | COM | 165167735 | 1,040,660 | 0.02 | 11412.0 |
| UL | ADDED | Unilever plc | COM | 904767803 | 1,012,922 | 0.02 | 16848.0 |
| SHOP | REDUCED | Shopify Inc. | COM | 82509L107 | 1,006,383 | 0.02 | 8814.0 |
| GBDC | ADDED | Golub Capital BDC Inc. | COM | 38173M102 | 994,143 | 0.02 | 77185.0 |
| HLN | ADDED | Haleon plc | COM | 405552100 | 991,387 | 0.02 | 106258.0 |
| MFIC | ADDED | MidCap Financial Investment Co | COM | 03761U502 | 981,490 | 0.02 | 97370.0 |
| CNMD | REDUCED | CONMED Corp. | COM | 207410101 | 969,807 | 0.02 | 29631.0 |
| - | SPDR Nuveen Barclays Capital S | COM | 78468R739 | 932,200 | 0.01 | 19435.0 | |
| - | Wal-Mart de Mexico S.A.B. de C | COM | 93114W107 | 930,238 | 0.01 | 31630.0 | |
| TSLX | ADDED | Sixth Street Specialty Lending | COM | 83012A109 | 928,880 | 0.01 | 54099.0 |
| ASX | REDUCED | ASE Technology Holding Co. Ltd | COM | 00215W100 | 924,419 | 0.01 | 20488.0 |
| - | VanEck Vectors Long Municipal | COM | 92189F536 | 921,840 | 0.01 | 51847.0 | |
| SE | ADDED | Sea Ltd. | COM | 81141r100 | 913,739 | 0.01 | 9535.0 |
| BBDC | REDUCED | Barings BDC Inc. | COM | 06759l103 | 890,996 | 0.01 | 104577.0 |
| CW | UNCHANGED | Curtiss-Wright Corp. | COM | 231561101 | 879,002 | 0.01 | 1160.0 |
| - | New Hope Corp. Ltd. | COM | Q66635105 | 871,195 | 0.01 | 230475.0 | |
| BCSF | ADDED | Bain Capital Specialty Finance | COM | 05684B107 | 870,678 | 0.01 | 69543.0 |
| - | iShares 0-3 Month Treasury Bon | COM | 46436E718 | 863,473 | 0.01 | 8577.0 | |
| - | LVMH Moet Hennessy Louis Vuitt | COM | 502441306 | 850,514 | 0.01 | 7690.0 | |
| MAIN | ADDED | Main Street Capital Corp. | COM | 56035L104 | 844,503 | 0.01 | 16278.0 |
| - | SAP S.E. | COM | 803054204 | 835,584 | 0.01 | 5422.0 | |
| NVO | ADDED | Novo Nordisk A.S. | COM | 670100205 | 833,437 | 0.01 | 17385.0 |
| AXP | UNCHANGED | American Express Co. | COM | 025816109 | 811,800 | 0.01 | 2400.0 |
| - | iShares iBonds Dec 2027 Term M | COM | 46435U283 | 809,271 | 0.01 | 31836.0 | |
| BABA | ADDED | Alibaba Group Holding Ltd. | COM | 01609W102 | 798,362 | 0.01 | 8318.0 |
| JJSF | REDUCED | J & J Snack Foods Corp. | COM | 466032109 | 791,701 | 0.01 | 10779.0 |
| BMI | NEW | Badger Meter Inc. | COM | 056525108 | 771,576 | 0.01 | 5200.0 |
| - | LunR Royalties Corp. | COM | 550428106 | 766,360 | 0.01 | 57116.0 | |
| OCSL | REDUCED | Oaktree Specialty Lending Corp | COM | 67401P405 | 747,432 | 0.01 | 62599.0 |
| HTGC | ADDED | Hercules Capital Inc. | COM | 427096508 | 736,081 | 0.01 | 46676.0 |
| MSDL | ADDED | Morgan Stanley Direct Lending | COM | 61774A103 | 735,709 | 0.01 | 48658.0 |
| - | Rheinmetall AG | COM | 76206K107 | 710,521 | 0.01 | 3111.0 | |
| - | Blackstone Secured Lending Fun | COM | 09261X102 | 708,455 | 0.01 | 29880.0 | |
| FELE | REDUCED | Franklin Electric Co. Inc. | COM | 353514102 | 704,989 | 0.01 | 6577.0 |
| - | Lundin Gold Inc. | COM | 550371108 | 694,972 | 0.01 | 12877.0 | |
| NBIS | ADDED | Nebius Group N.V. | COM | N97284108 | 683,521 | 0.01 | 2475.0 |
| KBDC | REDUCED | Kayne Anderson BDC | COM | 48662X105 | 674,998 | 0.01 | 49889.0 |
| CSWC | ADDED | Capital Southwest Corp. | COM | 140501107 | 673,832 | 0.01 | 28348.0 |
| OBDC | ADDED | Blue Owl Capital Corp. | COM | 69121K104 | 672,714 | 0.01 | 61887.0 |
| - | Nuveen Churchill Direct Lendin | COM | 67090S108 | 647,753 | 0.01 | 52154.0 | |
| - | Franklin Street Properties Cor | COM | 35471R106 | 634,303 | 0.01 | 1231656.0 | |
| TRIN | ADDED | Trinity Capital Inc. | COM | 896442308 | 597,204 | 0.01 | 33382.0 |
| NMFC | ADDED | New Mountain Finance Corp. | COM | 647551100 | 579,479 | 0.01 | 80820.0 |
| - | Stanley Black & Decker Inc. | COM | 854502101 | 537,143 | 0.01 | 5707.0 | |
| GFI | ADDED | Gold Fields Ltd. | COM | 38059t106 | 528,875 | 0.01 | 15745.0 |
| SLRC | REDUCED | SLR Investment Corp. | COM | 83413U100 | 524,958 | 0.01 | 42438.0 |
| SNA | REDUCED | Snap-on Inc. | COM | 833034101 | 521,913 | 0.01 | 1297.0 |
| CB | REDUCED | Chubb Ltd. | COM | H1467J104 | 520,991 | 0.01 | 1529.0 |
| KB | ADDED | KB Financial Group Inc. | COM | 48241a105 | 520,980 | 0.01 | 4964.0 |
| OCSL | REDUCED | Oaktree Specialty Lending Corp | COM | 67401P405 | 517,324 | 0.01 | 43327.0 |
| - | Entergy Corp. | COM | 29364G103 | 515,607 | 0.01 | 4489.0 | |
| - | Infineon Technologies A.G. | COM | 45662n103 | 498,646 | 0.01 | 5307.0 | |
| LIN | REDUCED | Linde plc | COM | G54950103 | 457,186 | 0.01 | 881.0 |
| HSY | REDUCED | Hershey Co. | COM | 427866108 | 456,132 | 0.01 | 2600.0 |
| - | Progressive Corp. | COM | 743315103 | 446,421 | 0.01 | 2044.0 | |
| WEC | REDUCED | WEC Energy Group Inc. | COM | 92939U106 | 441,624 | 0.01 | 3782.0 |
| LMT | REDUCED | Lockheed Martin Corp. | COM | 539830109 | 440,267 | 0.01 | 864.0 |
| FAST | REDUCED | Fastenal Co. | COM | 311900104 | 435,680 | 0.01 | 9071.0 |
| SO | REDUCED | Southern Co. | COM | 842587107 | 426,197 | 0.01 | 4453.0 |
| NTRS | REDUCED | Northern Trust Corp. | COM | 665859104 | 409,219 | 0.01 | 2354.0 |
| - | Coca-Cola Femsa S.A.B. de C.V. | COM | 191241108 | 402,475 | 0.01 | 3788.0 | |
| - | Shinhan Financial Group Co. Lt | COM | 824596100 | 397,842 | 0.01 | 6290.0 | |
| KMI | REDUCED | Kinder Morgan Inc. | COM | 49456B101 | 387,157 | 0.01 | 12110.0 |
| CCAP | ADDED | Crescent Capital BDC Inc. | COM | 225655109 | 386,677 | 0.01 | 35410.0 |
| GILD | REDUCED | Gilead Sciences Inc. | COM | 375558103 | 386,095 | 0.01 | 3056.0 |
| - | Fomento Economico Mexicano S.A | COM | 344419106 | 381,042 | 0.01 | 2979.0 | |
| MDLZ | REDUCED | Mondelez International Inc. | COM | 609207105 | 375,497 | 0.01 | 6492.0 |
| BAP | ADDED | Credicorp Ltd. | COM | G2519Y108 | 368,543 | 0.01 | 946.0 |
| - | Clorox Co. | COM | 189054109 | 361,813 | 0.01 | 3791.0 | |
| CVX | REDUCED | Chevron Corp. | COM | 166764100 | 361,191 | 0.01 | 2179.0 |
| - | U.S. Bancorp | COM | 902973304 | 356,783 | 0.01 | 5907.0 | |
| IBN | ADDED | ICICI Bank Ltd. | COM | 45104g104 | 353,760 | 0.01 | 12186.0 |
| CSCO | REDUCED | Cisco Systems Inc. | COM | 17275R102 | 353,202 | 0.01 | 3007.0 |
| - | Airbus SE | COM | 009279100 | 352,838 | 0.01 | 6346.0 | |
| ADI | REDUCED | Analog Devices Inc. | COM | 032654105 | 347,127 | 0.01 | 874.0 |
| - | Copa Holdings SA | COM | P31076105 | 342,565 | 0.01 | 2202.0 | |
| - | Gladstone Investment Corp. | COM | 376546107 | 340,120 | 0.01 | 22000.0 | |
| HD | REDUCED | Home Depot Inc. | COM | 437076102 | 339,984 | 0.01 | 964.0 |
| KBDC | REDUCED | Kayne Anderson BDC | COM | 48662X105 | 337,330 | 0.01 | 24932.0 |
| - | Fidelity National Financial In | COM | 31620R303 | 332,478 | 0.01 | 7050.0 | |
| - | iShares iBonds Dec 2026 Term M | COM | 46435U259 | 332,193 | 0.01 | 12956.0 | |
| BR | REDUCED | Broadridge Financial Solutions | COM | 11133T103 | 331,527 | 0.01 | 2421.0 |
| AWK | REDUCED | American Water Works Co. Inc. | COM | 030420103 | 323,292 | 0.01 | 2457.0 |
| OTF | NEW | Blue Owl Technology Finance | COM | 095924106 | 321,885 | 0.01 | 31100.0 |
| MSIF | REDUCED | MSC Income Fund | COM | 55374X208 | 315,340 | 0.0 | 27255.0 |
| MSIF | REDUCED | MSC Income Fund | COM | 55374X208 | 314,322 | 0.0 | 27167.0 |
| - | SPDR Nuveen S&P High Yield Mun | COM | 78464A284 | 313,268 | 0.0 | 12314.0 | |
| ZTO | ADDED | ZTO Express Cayman Inc. | COM | 98980A105 | 312,559 | 0.0 | 13966.0 |
| CL | REDUCED | Colgate-Palmolive Co. | COM | 194162103 | 309,695 | 0.0 | 3378.0 |
| ERO | NEW | ERO Copper Corp. | COM | 296006109 | 305,074 | 0.0 | 11428.0 |
| - | T. Rowe Price Group Inc. | COM | 74144T108 | 305,030 | 0.0 | 2683.0 | |
| - | Grupo Financiero Banorte S.A.B | COM | 40052P107 | 293,747 | 0.0 | 5575.0 | |
| - | Charles River Laboratories Int | COM | 159864107 | 289,838 | 0.0 | 1278.0 | |
| DEO | REDUCED | Diageo plc | COM | 25243Q205 | 288,492 | 0.0 | 3589.0 |
| - | Controladora Vuela Cia de Avia | COM | 21240E105 | 287,434 | 0.0 | 30676.0 | |
| HTHT | ADDED | H World Group Ltd. | COM | 44332N106 | 285,991 | 0.0 | 6855.0 |
| NU | NEW | NU Holdings Ltd | COM | G6683N103 | 285,704 | 0.0 | 21385.0 |
| MSDL | ADDED | Morgan Stanley Direct Lending | COM | 61774A103 | 285,088 | 0.0 | 18855.0 |
| PAYX | REDUCED | Paychex Inc. | COM | 704326107 | 276,799 | 0.0 | 2815.0 |
| TRIN | ADDED | Trinity Capital Inc. | COM | 896442308 | 270,515 | 0.0 | 15121.0 |
| - | Tencent Holdings Ltd. | COM | 88032Q109 | 268,093 | 0.0 | 4855.0 | |
| SLRC | REDUCED | SLR Investment Corp. | COM | 83413U100 | 264,908 | 0.0 | 21415.0 |
| GLD | UNCHANGED | SPDR Gold Shares ETF | COM | 78463V107 | 264,497 | 0.0 | 718.0 |
| YUMC | ADDED | Yum China Holdings Inc. | COM | 98850P109 | 261,364 | 0.0 | 6395.0 |
| - | Dr Reddy's Laboratories Ltd. | COM | 256135203 | 259,516 | 0.0 | 17910.0 | |
| MELI | ADDED | MercadoLibre Inc. | COM | 58733R102 | 252,911 | 0.0 | 149.0 |
| MMYT | NEW | MakeMyTrip Ltd. | COM | V5633W109 | 249,397 | 0.0 | 4680.0 |
| PAYC | REDUCED | Paycom Software Inc. | COM | 70432V102 | 249,110 | 0.0 | 1982.0 |
| NDSN | REDUCED | Nordson Corp. | COM | 655663102 | 241,619 | 0.0 | 801.0 |
| BIDU | ADDED | Baidu Inc. | COM | 056752108 | 238,752 | 0.0 | 2089.0 |
| - | Gladstone Investment Corp. | COM | 376546107 | 231,622 | 0.0 | 14982.0 | |
| JBS | ADDED | JBS N.V. | COM | N4732M103 | 229,013 | 0.0 | 19326.0 |
| BCSF | ADDED | Bain Capital Specialty Finance | COM | 05684B107 | 226,449 | 0.0 | 18087.0 |
| DLTR | REDUCED | Dollar Tree Inc. | COM | 256746108 | 220,371 | 0.0 | 1822.0 |
| EC | ADDED | Ecopetrol S.A. | COM | 279158109 | 220,222 | 0.0 | 15465.0 |
| AMP | UNCHANGED | Ameriprise Financial Inc. | COM | 03076C106 | 220,205 | 0.0 | 480.0 |
| HON | REDUCED | Honeywell International Inc. | COM | 438516205 | 217,631 | 0.0 | 972.0 |
| - | Betterware de Mexico S.A.P.I. | COM | P1666E105 | 217,607 | 0.0 | 12096.0 | |
| DOW | REDUCED | Dow Inc. | COM | 260557103 | 214,694 | 0.0 | 7847.0 |
| HONA | NEW | Honeywell Aerospace Inc. | COM | 43849R105 | 213,784 | 0.0 | 967.0 |
| JPM | REDUCED | JPMorgan Chase & Co. | COM | 46625H100 | 213,746 | 0.0 | 653.0 |
| MFIC | ADDED | MidCap Financial Investment Co | COM | 03761U502 | 213,504 | 0.0 | 21181.0 |
| VALE | ADDED | Vale S.A. | COM | 91912E105 | 212,320 | 0.0 | 14117.0 |
| - | Nuveen Churchill Direct Lendin | COM | 67090S108 | 208,072 | 0.0 | 16753.0 | |
| WCN | NEW | Waste Connections Inc. | COM | 94106B101 | 207,362 | 0.0 | 1244.0 |
| - | W. R. Berkley Corp. | COM | 084423102 | 204,684 | 0.0 | 2902.0 | |
| MSFT | REDUCED | Microsoft Corp. | COM | 594918104 | 204,276 | 0.0 | 548.0 |
| ARCC | REDUCED | Ares Capital Corp. | COM | 04010L103 | 202,774 | 0.0 | 10943.0 |
| NVDA | NEW | NVIDIA Corp. | COM | 67066G104 | 202,691 | 0.0 | 1013.0 |
| MA | REDUCED | Mastercard Inc. | COM | 57636Q104 | 201,079 | 0.0 | 392.0 |
| PSBD | REDUCED | Palmer Square Capital BDC Inc. | COM | 69702V107 | 199,616 | 0.0 | 19157.0 |
| SYK | ADDED | Stryker Corp. | COM | 863667101 | 190,525 | 0.0 | 605.0 |
| TREX | REDUCED | Trex Company Inc. | COM | 89531P105 | 189,451 | 0.0 | 3786.0 |
| TMO | ADDED | Thermo Fisher Scientific Inc. | COM | 883556102 | 188,103 | 0.0 | 375.0 |
| - | TJX Co. Inc. | COM | 872540109 | 186,704 | 0.0 | 1232.0 | |
| BRK-B | REDUCED | Berkshire Hathaway Inc. - B | COM | 084670702 | 185,144 | 0.0 | 370.0 |
| INFY | ADDED | Infosys Ltd. | COM | 456788108 | 185,000 | 0.0 | 17636.0 |
| CARR | REDUCED | Carrier Global Corp. | COM | 14448c104 | 184,903 | 0.0 | 2521.0 |
| NXPI | REDUCED | NXP Semiconductors N.V. | COM | N6596X109 | 179,151 | 0.0 | 637.0 |
| GOOGL | REDUCED | Alphabet Inc. | COM | 02079K107 | 176,748 | 0.0 | 500.0 |
| ARCO | ADDED | Arcos Dorados Holdings Inc. | COM | G0457F107 | 175,692 | 0.0 | 21798.0 |
| - | S&P Global Inc. | COM | 78409V104 | 171,345 | 0.0 | 421.0 | |
| - | Lowe's Co. Inc. | COM | 548661107 | 170,090 | 0.0 | 771.0 | |
| VVV | REDUCED | Valvoline Inc. | COM | 92047W101 | 163,814 | 0.0 | 4143.0 |
| - | Ping An Insurance Group Co. of | COM | 72341E304 | 156,978 | 0.0 | 12029.0 | |
| ACN | ADDED | Accenture plc | COM | G1151C101 | 150,572 | 0.0 | 1210.0 |
| - | PT Astra International Tbk | COM | 69367X109 | 140,999 | 0.0 | 26857.0 | |
| GGG | REDUCED | Graco Inc. | COM | 384109104 | 133,087 | 0.0 | 1760.0 |
| - | Sendas Distribuidora S.A. | COM | 81689T104 | 129,432 | 0.0 | 15372.0 | |
| PAGS | NEW | Pagseguro Digital Ltd. | COM | G68707101 | 125,207 | 0.0 | 13835.0 |
| VNT | REDUCED | Vontier Corp. | COM | 928881101 | 123,112 | 0.0 | 4245.0 |
| BF-B | REDUCED | Brown-Forman Corp. - B | COM | 115637209 | 121,631 | 0.0 | 4564.0 |
| STVN | NEW | Stevanato Group S.p.A. | COM | T9224W109 | 119,750 | 0.0 | 6627.0 |
| MORN | REDUCED | Morningstar Inc. | COM | 617700109 | 119,170 | 0.0 | 764.0 |
| DIS | REDUCED | Walt Disney Co. | COM | 254687106 | 117,714 | 0.0 | 1223.0 |
| - | Brown & Brown Inc. | COM | 115236101 | 111,473 | 0.0 | 1738.0 | |
| JBTM | REDUCED | JBT Marel Corp. | COM | 477839104 | 104,835 | 0.0 | 723.0 |
| IIIV | ADDED | i3 Verticals Inc. | COM | 46571Y107 | 98,619 | 0.0 | 4617.0 |
| TRIP | REDUCED | TripAdvisor Inc. | COM | 896945201 | 97,601 | 0.0 | 7119.0 |
| KEYS | REDUCED | Keysight Technologies Inc. | COM | 49338L103 | 94,519 | 0.0 | 270.0 |
| CPRT | REDUCED | Copart Inc. | COM | 217204106 | 91,928 | 0.0 | 3261.0 |
| MTN | REDUCED | Vail Resorts Inc. | COM | 91879Q109 | 87,953 | 0.0 | 646.0 |
| CVCO | REDUCED | Cavco Industries Inc. | COM | 149568107 | 84,170 | 0.0 | 137.0 |
| - | Masco Corp. | COM | 574599106 | 79,417 | 0.0 | 976.0 | |
| - | Floor & Decor Holdings Inc. | COM | 339750101 | 76,812 | 0.0 | 1294.0 | |
| - | Air Products and Chemicals Inc | COM | 009158106 | 76,227 | 0.0 | 260.0 | |
| RYAN | NEW | Ryan Specialty Group | COM | 78351F107 | 71,744 | 0.0 | 1900.0 |
| BKNG | ADDED | Booking Holdings Inc. | COM | 09857L108 | 71,652 | 0.0 | 402.0 |
| ACGL | REDUCED | Arch Capital Group Ltd. | COM | G0450A105 | 66,874 | 0.0 | 689.0 |
| MLM | REDUCED | Martin Marietta Materials Inc. | COM | 573284106 | 64,590 | 0.0 | 112.0 |
| ITW | REDUCED | Illinois Tool Works Inc. | COM | 452308109 | 62,479 | 0.0 | 231.0 |
| - | SPDR Portfolio S&P 500 Growth | COM | 78464A409 | 55,290 | 0.0 | 465.0 | |
| - | SPDR Portfolio Developed World | COM | 78463X889 | 52,406 | 0.0 | 1040.0 | |
| STZ | REDUCED | Constellation Brands | COM | 21036P108 | 51,463 | 0.0 | 370.0 |
| - | SPDR Portfolio S&P 500 Value E | COM | 78464a508 | 43,882 | 0.0 | 722.0 | |
| ZTS | ADDED | Zoetis Inc. | COM | 98978V103 | 42,469 | 0.0 | 591.0 |
| BWIN | REDUCED | Baldwin Insurance Group Inc. | COM | 05589g102 | 34,448 | 0.0 | 1296.0 |
| GTES | REDUCED | Gates Industrial Corp. plc | COM | G39108108 | 32,753 | 0.0 | 1171.0 |
| ELME | UNCHANGED | Elme Communities | COM | 939653101 | 32,712 | 0.0 | 22103.0 |
| - | SPDR Gold MiniShares Trust ETF | COM | 98149E303 | 31,450 | 0.0 | 396.0 | |
| SPB | REDUCED | Spectrum Brands Holdings Inc. | COM | 84790a105 | 29,669 | 0.0 | 346.0 |
| RBC | REDUCED | RBC Bearings Inc. | COM | 75524B104 | 27,695 | 0.0 | 43.0 |
| HGTY | REDUCED | Hagerty Inc. | COM | 405166109 | 27,476 | 0.0 | 2305.0 |
| STC | REDUCED | Stewart Information Services C | COM | 860372101 | 25,946 | 0.0 | 393.0 |
| HAYW | REDUCED | Hayward Holdings Inc. | COM | 421298100 | 25,601 | 0.0 | 1479.0 |
| MRTN | REDUCED | Marten Transport Ltd. | COM | 573075108 | 25,435 | 0.0 | 1466.0 |
| UFPI | ADDED | UFP Industries Inc. | COM | 90278Q108 | 25,135 | 0.0 | 277.0 |
| HAE | REDUCED | Haemonetics Corp. | COM | 405024100 | 24,900 | 0.0 | 332.0 |
| KN | REDUCED | Knowles Corp. | COM | 49926D109 | 24,764 | 0.0 | 597.0 |
| ESAB | ADDED | ESAB Corp. | COM | 29605J106 | 24,756 | 0.0 | 251.0 |
| MOV | REDUCED | Movado Group Inc. | COM | 624580106 | 22,839 | 0.0 | 581.0 |
| RLI | REDUCED | RLI Corp. | COM | 749607107 | 22,269 | 0.0 | 377.0 |
| - | Littelfuse Inc. | COM | 537008104 | 21,856 | 0.0 | 48.0 | |
| UFPT | REDUCED | UFP Technologies Inc. | COM | 902673102 | 21,210 | 0.0 | 80.0 |
| - | John B Sanfilippo & Son Inc. | COM | 800422107 | 20,724 | 0.0 | 241.0 | |
| - | Altus Group Ltd. | COM | 02215R107 | 16,516 | 0.0 | 521.0 | |
| - | J & J Snack Foods Corp. | COM | 466032109 | 13,882 | 0.0 | 189.0 | |
| CNMD | REDUCED | CONMED Corp. | COM | 207410101 | 13,878 | 0.0 | 424.0 |
| BMI | NEW | Badger Meter Inc. | COM | 056525108 | 13,354 | 0.0 | 90.0 |
| FELE | REDUCED | Franklin Electric Co. Inc. | COM | 353514102 | 12,112 | 0.0 | 113.0 |
| - | iShares Core MSCI Europe ETF | COM | 46434V738 | 10,599 | 0.0 | 141.0 | |
| - | State Street Energy Select Sec | COM | 81369Y506 | 9,772 | 0.0 | 184.0 | |
| - | SPDR S&P Dividend ETF | COM | 78464A763 | 9,740 | 0.0 | 64.0 | |
| - | SPDR Industrial Select Sector | COM | 81369Y704 | 8,335 | 0.0 | 45.0 | |
| - | Avantis International Small Ca | COM | 025072802 | 7,935 | 0.0 | 77.0 | |
| - | iShares MSCI Global Metals & M | COM | 46434G848 | 7,618 | 0.0 | 131.0 | |
| - | Global X Defense Tech ETF | COM | 37960A529 | 6,926 | 0.0 | 116.0 | |
| - | VanEck Junior Gold Miners ETF | COM | 92189F791 | 5,305 | 0.0 | 54.0 | |
| - | Vanguard FTSE Pacific Index Fu | COM | 922042866 | 4,859 | 0.0 | 42.0 | |
| - | Aberdeen Physical Platinum Sha | COM | 003260106 | 4,098 | 0.0 | 290.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-07-01 | 6,400,354,292 | 422 | 9.861394 | 0.419631 | 21.498317 |
| 2026-03-31 | 2026-04-01 | 6,440,688,053 | 414 | 10.227091 | 0.438 | 22.035935 |
| 2025-12-31 | 2026-01-05 | 6,673,836,873 | 458 | 9.974229 | 0.432985 | 21.235642 |
| 2025-09-30 | 2025-10-14 | 7,009,398,196 | 456 | 10.064775 | 0.436284 | 21.455878 |
| 2025-03-31 | 2025-04-01 | 6,944,797,751 | 462 | 9.895725 | 0.42774 | 21.191945 |
| 2024-12-31 | 2025-01-02 | 7,208,869,614 | 359 | 9.869361 | 0.432482 | 20.729982 |