# EDGAR Filing Document

**Accession Number:** 0000872163
**File Stem:** 0001104659-25-107454
**Filing Date:** 2025-11
**Character Count:** 39067
**Document Hash:** 91f3afe0aa51a08c2c0212fd706f6dcf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-107454.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001104659-25-107454

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**EFFECTIVENESS DATE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NAVELLIER & ASSOCIATES INC
- **CENTRAL INDEX KEY:** 0000872163

**ORGANIZATION NAME:**
- **EIN:** 880240393
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-02824
- **FILM NUMBER:** 251456398

**BUSINESS ADDRESS:**
- **STREET 1:** ONE EAST LIBERTY, SUITE 504
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89501
- **BUSINESS PHONE:** 7757852300

**MAIL ADDRESS:**
- **STREET 1:** ONE EAST LIBERTY, SUITE 504
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89501

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** NAVELLIER  ASSOCIATES INC<br>**Address:** ONE EAST LIBERTY SUITE 504<br>RENO, NV 89501

**Form 13F File Number:** 028-02824

**CRD Number (if applicable):** 000107568

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Louis Navellier<br>**Title:** CCO<br>**Phone:** 775-785-2300

**Signature, Place, and Date of Signing:**

/s/ Louis Navellier  Reno, NV  11-05-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 354

**Form 13F Information Table Value Total:** $985879248

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COM | 002824100 |  | 727428 | 5431 | SH |  | SOLE |  | 0 | 0 | 5431 |
| AbbVie Inc. | COM | 00287Y109 |  | 7226321 | 31210 | SH |  | SOLE |  | 0 | 0 | 31210 |
| Acadian Asset Management Inc. | COM | 10948W103 |  | 310439 | 6446 | SH |  | SOLE |  | 0 | 0 | 6446 |
| ADMA Biologics Inc. | COM | 000899104 |  | 176448 | 12036 | SH |  | SOLE |  | 0 | 0 | 12036 |
| Adtalem Global Education Inc. | COM | 00737L103 |  | 1761502 | 11405 | SH |  | SOLE |  | 0 | 0 | 11405 |
| Advanced Micro Devices Inc. | COM | 007903107 |  | 335067 | 2071 | SH |  | SOLE |  | 0 | 0 | 2071 |
| AECOM | COM | 00766T100 |  | 10089256 | 77330 | SH |  | SOLE |  | 0 | 0 | 77330 |
| AeroVironment Inc. | COM | 008073108 |  | 285290 | 906 | SH |  | SOLE |  | 0 | 0 | 906 |
| Agnico Eagle Mines Limited | COM | 008474108 |  | 10754297 | 63801 | SH |  | SOLE |  | 0 | 0 | 63801 |
| Air Products and Chemicals Inc. | COM | 009158106 |  | 775070 | 2842 | SH |  | SOLE |  | 0 | 0 | 2842 |
| Alamos Gold Inc. | COM | 011532108 |  | 9838642 | 282233 | SH |  | SOLE |  | 0 | 0 | 282233 |
| Alaska Air Group Inc. | COM | 011659109 |  | 477540 | 9593 | SH |  | SOLE |  | 0 | 0 | 9593 |
| Alignment Healthcare Inc. | COM | 01625V104 |  | 525367 | 30107 | SH |  | SOLE |  | 0 | 0 | 30107 |
| Allstate Corporation | COM | 020002101 |  | 3942688 | 18368 | SH |  | SOLE |  | 0 | 0 | 18368 |
| Alphabet Inc. Class A | COM | 02079K305 |  | 2393401 | 9845 | SH |  | SOLE |  | 0 | 0 | 9845 |
| Alphabet Inc. Class C | COM | 02079K107 |  | 1423826 | 5846 | SH |  | SOLE |  | 0 | 0 | 5846 |
| Alphatec Holdings Inc. | COM | 02081G201 |  | 429672 | 29551 | SH |  | SOLE |  | 0 | 0 | 29551 |
| Amazon.com Inc. | COM | 023135106 |  | 4050627 | 18448 | SH |  | SOLE |  | 0 | 0 | 18448 |
| Amcor PLC | COM | G0250X107 |  | 722368 | 88309 | SH |  | SOLE |  | 0 | 0 | 88309 |
| Amdocs Limited | COM | G02602103 |  | 232366 | 2832 | SH |  | SOLE |  | 0 | 0 | 2832 |
| Amer Sports Inc. | COM | G0260P102 |  | 4218198 | 121387 | SH |  | SOLE |  | 0 | 0 | 121387 |
| American Electric Power Company Inc. | COM | 025537101 |  | 553162 | 4917 | SH |  | SOLE |  | 0 | 0 | 4917 |
| American Express Company | COM | 025816109 |  | 1071548 | 3226 | SH |  | SOLE |  | 0 | 0 | 3226 |
| American International Group Inc. | COM | 026874784 |  | 247401 | 3150 | SH |  | SOLE |  | 0 | 0 | 3150 |
| American Public Education Inc. | COM | 02913V103 |  | 1033404 | 26182 | SH |  | SOLE |  | 0 | 0 | 26182 |
| Amgen Inc. | COM | 031162100 |  | 3795903 | 13451 | SH |  | SOLE |  | 0 | 0 | 13451 |
| Analog Devices Inc. | COM | 032654105 |  | 978623 | 3983 | SH |  | SOLE |  | 0 | 0 | 3983 |
| Apollo Global Management Inc | COM | 03769M106 |  | 704065 | 5283 | SH |  | SOLE |  | 0 | 0 | 5283 |
| AppFolio Inc Class A | COM | 03783C100 |  | 275660 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| Apple Inc. | COM | 037833100 |  | 12444062 | 48871 | SH |  | SOLE |  | 0 | 0 | 48871 |
| Applied Industrial Technologies Inc. | COM | 03820C105 |  | 855461 | 3277 | SH |  | SOLE |  | 0 | 0 | 3277 |
| Applied Materials Inc. | COM | 038222105 |  | 226130 | 1104 | SH |  | SOLE |  | 0 | 0 | 1104 |
| AppLovin Corp. Class A | COM | 03831W108 |  | 17341963 | 24135 | SH |  | SOLE |  | 0 | 0 | 24135 |
| Archrock Inc. | COM | 03957W106 |  | 6295953 | 239299 | SH |  | SOLE |  | 0 | 0 | 239299 |
| Argan Inc. | COM | 04010E109 |  | 10381380 | 38442 | SH |  | SOLE |  | 0 | 0 | 38442 |
| argenx SE Sponsored ADR | COM | 04016X101 |  | 4882647 | 6620 | SH |  | SOLE |  | 0 | 0 | 6620 |
| Arista Networks Inc. | COM | 040413205 |  | 5319872 | 36510 | SH |  | SOLE |  | 0 | 0 | 36510 |
| Artivion Inc. | COM | 228903100 |  | 450244 | 10634 | SH |  | SOLE |  | 0 | 0 | 10634 |
| AT Inc | COM | 00206R102 |  | 371412 | 13152 | SH |  | SOLE |  | 0 | 0 | 13152 |
| Atmos Energy Corporation | COM | 049560105 |  | 4320681 | 25304 | SH |  | SOLE |  | 0 | 0 | 25304 |
| Aurinia Pharmaceuticals Inc. | COM | 05156V102 |  | 925769 | 83780 | SH |  | SOLE |  | 0 | 0 | 83780 |
| Automatic Data Processing Inc. | COM | 053015103 |  | 660338 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| Axon Enterprise Inc | COM | 05464C101 |  | 10242158 | 14272 | SH |  | SOLE |  | 0 | 0 | 14272 |
| Baker Hughes Company Class A | COM | 05722G100 |  | 3290860 | 67546 | SH |  | SOLE |  | 0 | 0 | 67546 |
| Bank of America Corp | COM | 060505104 |  | 925731 | 17944 | SH |  | SOLE |  | 0 | 0 | 17944 |
| Barrick Mining Corporation | COM | 06849F108 |  | 229390 | 7000 | SH |  | SOLE |  | 0 | 0 | 7000 |
| Bel Fuse Inc. Class B | COM | 077347300 |  | 466494 | 3308 | SH |  | SOLE |  | 0 | 0 | 3308 |
| BioCryst Pharmaceuticals Inc. | COM | 09058V103 |  | 507543 | 66870 | SH |  | SOLE |  | 0 | 0 | 66870 |
| Biogen Inc. | COM | 09062X103 |  | 303133 | 2164 | SH |  | SOLE |  | 0 | 0 | 2164 |
| BJ's Wholesale Club Holdings Inc. | COM | 05550J101 |  | 214195 | 2297 | SH |  | SOLE |  | 0 | 0 | 2297 |
| Black Hills Corporation | COM | 092113109 |  | 678599 | 11018 | SH |  | SOLE |  | 0 | 0 | 11018 |
| Bloom Energy Corporation Class A | COM | 093712107 |  | 9430485 | 111511 | SH |  | SOLE |  | 0 | 0 | 111511 |
| Booz Allen Hamilton Holding Corporation Class A | COM | 099502106 |  | 2162830 | 21639 | SH |  | SOLE |  | 0 | 0 | 21639 |
| BorgWarner Inc. | COM | 099724106 |  | 244637 | 5565 | SH |  | SOLE |  | 0 | 0 | 5565 |
| BOS Better Online Solutions Ltd | COM | M20115180 |  | 911373 | 191465 | SH |  | SOLE |  | 0 | 0 | 191465 |
| Boston Scientific Corporation | COM | 101137107 |  | 4176514 | 42779 | SH |  | SOLE |  | 0 | 0 | 42779 |
| Brink's Company | COM | 109696104 |  | 238044 | 2037 | SH |  | SOLE |  | 0 | 0 | 2037 |
| Brinker International Inc. | COM | 109641100 |  | 2342440 | 18491 | SH |  | SOLE |  | 0 | 0 | 18491 |
| Bristol-Myers Squibb Company | COM | 110122108 |  | 597620 | 13251 | SH |  | SOLE |  | 0 | 0 | 13251 |
| Brixmor Property Group Inc. | COM | 11120U105 |  | 201483 | 7279 | SH |  | SOLE |  | 0 | 0 | 7279 |
| Broadcom Inc. | COM | 11135F101 |  | 4437469 | 13451 | SH |  | SOLE |  | 0 | 0 | 13451 |
| Brown Advisory Small-Cap Fundamental Value Fund Investor Shs | COM | 115233793 |  | 940005 | 31438 | SH |  | SOLE |  | 0 | 0 | 31438 |
| BWX Technologies Inc. | COM | 05605H100 |  | 4626381 | 25093 | SH |  | SOLE |  | 0 | 0 | 25093 |
| Cal-Maine Foods Inc. | COM | 128030202 |  | 6076540 | 64575 | SH |  | SOLE |  | 0 | 0 | 64575 |
| Caledonia Mining Corporation PLC | COM | G1757E113 |  | 2046951 | 56530 | SH |  | SOLE |  | 0 | 0 | 56530 |
| Cameco Corporation | COM | 13321L108 |  | 666184 | 7944 | SH |  | SOLE |  | 0 | 0 | 7944 |
| Carpenter Technology Corporation | COM | 144285103 |  | 12808534 | 52165 | SH |  | SOLE |  | 0 | 0 | 52165 |
| Carriage Services Inc. | COM | 143905107 |  | 1199551 | 26932 | SH |  | SOLE |  | 0 | 0 | 26932 |
| Carvana Co. Class A | COM | 146869102 |  | 5672181 | 15036 | SH |  | SOLE |  | 0 | 0 | 15036 |
| Casey's General Stores Inc. | COM | 147528103 |  | 417206 | 738 | SH |  | SOLE |  | 0 | 0 | 738 |
| Catalyst Pharmaceuticals Inc. | COM | 14888U101 |  | 262916 | 13346 | SH |  | SOLE |  | 0 | 0 | 13346 |
| CECO Environmental Corp. | COM | 125141101 |  | 1464064 | 28595 | SH |  | SOLE |  | 0 | 0 | 28595 |
| Cencora Inc. | COM | 03073E105 |  | 5840557 | 18688 | SH |  | SOLE |  | 0 | 0 | 18688 |
| Charles Schwab Corp | COM | 808513105 |  | 1026780 | 10755 | SH |  | SOLE |  | 0 | 0 | 10755 |
| Cheesecake Factory Incorporated | COM | 163072101 |  | 843478 | 15437 | SH |  | SOLE |  | 0 | 0 | 15437 |
| Chevron Corporation | COM | 166764100 |  | 2009496 | 12940 | SH |  | SOLE |  | 0 | 0 | 12940 |
| Cipher Mining Inc | COM | 17253J106 |  | 415747 | 33022 | SH |  | SOLE |  | 0 | 0 | 33022 |
| Cisco Systems Inc. | COM | 17275R102 |  | 4458459 | 65163 | SH |  | SOLE |  | 0 | 0 | 65163 |
| Citigroup Inc. | COM | 172967424 |  | 1447796 | 14264 | SH |  | SOLE |  | 0 | 0 | 14264 |
| Clear Secure Inc. Class A | COM | 18467V109 |  | 1409453 | 42224 | SH |  | SOLE |  | 0 | 0 | 42224 |
| ClearPoint Neuro Inc. | COM | 18507C103 |  | 1089500 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| Climb Global Solutions Inc. | COM | 946760105 |  | 1098574 | 8147 | SH |  | SOLE |  | 0 | 0 | 8147 |
| Clorox Company | COM | 189054109 |  | 712181 | 5776 | SH |  | SOLE |  | 0 | 0 | 5776 |
| CME Group Inc. Class A | COM | 12572Q105 |  | 2951300 | 10923 | SH |  | SOLE |  | 0 | 0 | 10923 |
| Coca-Cola Company | COM | 191216100 |  | 1081414 | 16306 | SH |  | SOLE |  | 0 | 0 | 16306 |
| Coca-Cola Consolidated Inc. | COM | 191098102 |  | 4565994 | 38972 | SH |  | SOLE |  | 0 | 0 | 38972 |
| Coeur Mining Inc. | COM | 192108504 |  | 3409086 | 181721 | SH |  | SOLE |  | 0 | 0 | 181721 |
| Colgate-Palmolive Company | COM | 194162103 |  | 2382787 | 29807 | SH |  | SOLE |  | 0 | 0 | 29807 |
| Columbia Banking System Inc. | COM | 197236102 |  | 233050 | 9054 | SH |  | SOLE |  | 0 | 0 | 9054 |
| Comfort Systems USA Inc. | COM | 199908104 |  | 15737993 | 19072 | SH |  | SOLE |  | 0 | 0 | 19072 |
| Compass Diversified Holdings | COM | 20451Q104 |  | 436887 | 65995 | SH |  | SOLE |  | 0 | 0 | 65995 |
| Comstock Holding Companies Inc. Class A | COM | 205684202 |  | 392840 | 28040 | SH |  | SOLE |  | 0 | 0 | 28040 |
| Consolidated Edison Inc. | COM | 209115104 |  | 454198 | 4518 | SH |  | SOLE |  | 0 | 0 | 4518 |
| Consumer Discretionary Select Sector SPDR Fund | COM | 81369Y407 |  | 1090362 | 4550 | SH |  | SOLE |  | 0 | 0 | 4550 |
| Costco Wholesale Corporation | COM | 22160K105 |  | 18848645 | 20363 | SH |  | SOLE |  | 0 | 0 | 20363 |
| Credo Technology Group Holding Ltd. | COM | G25457105 |  | 262680 | 1804 | SH |  | SOLE |  | 0 | 0 | 1804 |
| CSP Inc. | COM | 126389105 |  | 115500 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| D-Wave Quantum Inc. | COM | 26740W109 |  | 1254971 | 50788 | SH |  | SOLE |  | 0 | 0 | 50788 |
| Darden Restaurants Inc. | COM | 237194105 |  | 1305132 | 6856 | SH |  | SOLE |  | 0 | 0 | 6856 |
| Delta Air Lines Inc. | COM | 247361702 |  | 251402 | 4430 | SH |  | SOLE |  | 0 | 0 | 4430 |
| DocuSign Inc. | COM | 256163106 |  | 528564 | 7332 | SH |  | SOLE |  | 0 | 0 | 7332 |
| Donegal Group Inc. Class A | COM | 257701201 |  | 765343 | 39471 | SH |  | SOLE |  | 0 | 0 | 39471 |
| Doximity Inc. Class A | COM | 26622P107 |  | 5103968 | 69774 | SH |  | SOLE |  | 0 | 0 | 69774 |
| DT Midstream Inc. | COM | 23345M107 |  | 306619 | 2712 | SH |  | SOLE |  | 0 | 0 | 2712 |
| DuPont de Nemours Inc. | COM | 26614N102 |  | 255668 | 3282 | SH |  | SOLE |  | 0 | 0 | 3282 |
| Dynex Capital Inc. | COM | 26817Q886 |  | 1815651 | 147734 | SH |  | SOLE |  | 0 | 0 | 147734 |
| Eaton Corp. Plc | COM | G29183103 |  | 376121 | 1005 | SH |  | SOLE |  | 0 | 0 | 1005 |
| eBay Inc. | COM | 278642103 |  | 3676848 | 40427 | SH |  | SOLE |  | 0 | 0 | 40427 |
| eGain Corporation | COM | 28225C806 |  | 276873 | 31788 | SH |  | SOLE |  | 0 | 0 | 31788 |
| Elbit Systems Ltd | COM | M3760D101 |  | 7762725 | 15227 | SH |  | SOLE |  | 0 | 0 | 15227 |
| Eldorado Gold Corporation | COM | 284902509 |  | 1935341 | 66990 | SH |  | SOLE |  | 0 | 0 | 66990 |
| Electromed Inc. | COM | 285409108 |  | 1457214 | 59357 | SH |  | SOLE |  | 0 | 0 | 59357 |
| Element Solutions Inc | COM | 28618M106 |  | 213316 | 8475 | SH |  | SOLE |  | 0 | 0 | 8475 |
| Eli Lilly and Company | COM | 532457108 |  | 19852914 | 26020 | SH |  | SOLE |  | 0 | 0 | 26020 |
| Embraer S.A. Sponsored ADR | COM | 29082A107 |  | 5059544 | 83698 | SH |  | SOLE |  | 0 | 0 | 83698 |
| EMCOR Group Inc. | COM | 29084Q100 |  | 21616231 | 33279 | SH |  | SOLE |  | 0 | 0 | 33279 |
| Encompass Health Corporation | COM | 29261A100 |  | 202724 | 1596 | SH |  | SOLE |  | 0 | 0 | 1596 |
| Energy Services of America Corporation | COM | 29271Q103 |  | 356089 | 34405 | SH |  | SOLE |  | 0 | 0 | 34405 |
| Energy Transfer LP | COM | 29273V100 |  | 342407 | 19954 | SH |  | SOLE |  | 0 | 0 | 19954 |
| Entergy Corporation | COM | 29364G103 |  | 342380 | 3674 | SH |  | SOLE |  | 0 | 0 | 3674 |
| Enterprise Products Partners L.P. | COM | 293792107 |  | 308714 | 9873 | SH |  | SOLE |  | 0 | 0 | 9873 |
| Epsilon Energy Ltd. | COM | 294375209 |  | 258481 | 51286 | SH |  | SOLE |  | 0 | 0 | 51286 |
| Eton Pharmaceuticals Inc. | COM | 29772L108 |  | 380145 | 17494 | SH |  | SOLE |  | 0 | 0 | 17494 |
| Eversource Energy | COM | 30040W108 |  | 1005848 | 14139 | SH |  | SOLE |  | 0 | 0 | 14139 |
| Excelerate Energy Inc. Class A | COM | 30069T101 |  | 625266 | 24822 | SH |  | SOLE |  | 0 | 0 | 24822 |
| Exelixis Inc. | COM | 30161Q104 |  | 7116568 | 172314 | SH |  | SOLE |  | 0 | 0 | 172314 |
| ExlService Holdings Inc. | COM | 302081104 |  | 4783815 | 108649 | SH |  | SOLE |  | 0 | 0 | 108649 |
| Extra Space Storage Inc. | COM | 30225T102 |  | 543314 | 3855 | SH |  | SOLE |  | 0 | 0 | 3855 |
| Exxon Mobil Corporation | COM | 30231G102 |  | 11438488 | 101450 | SH |  | SOLE |  | 0 | 0 | 101450 |
| Ferrari NV | COM | N3167Y103 |  | 5624185 | 11591 | SH |  | SOLE |  | 0 | 0 | 11591 |
| Fidelity MSCI Information Technology Index ETF | COM | 316092808 |  | 2787123 | 12545 | SH |  | SOLE |  | 0 | 0 | 12545 |
| Fidelity National Information Services Inc. | COM | 31620M106 |  | 318676 | 4833 | SH |  | SOLE |  | 0 | 0 | 4833 |
| Fidelity Wise Origin Bitcoin Fund | COM | 315948109 |  | 320690 | 3213 | SH |  | SOLE |  | 0 | 0 | 3213 |
| Financial Select Sector SPDR Fund | COM | 81369Y605 |  | 830675 | 15420 | SH |  | SOLE |  | 0 | 0 | 15420 |
| First Bancorp | COM | 318672706 |  | 626132 | 28396 | SH |  | SOLE |  | 0 | 0 | 28396 |
| First Trust Consumer Discretionary AlphaDEX Fund | COM | 33734X101 |  | 1563125 | 22913 | SH |  | SOLE |  | 0 | 0 | 22913 |
| First Trust Energy AlphaDEX Fund | COM | 33734X127 |  | 2005748 | 123052 | SH |  | SOLE |  | 0 | 0 | 123052 |
| First Trust Financials AlphaDEX Fund | COM | 33734X135 |  | 1696475 | 28565 | SH |  | SOLE |  | 0 | 0 | 28565 |
| First Trust Health Care AlphaDEX Fund | COM | 33734X143 |  | 2041414 | 18614 | SH |  | SOLE |  | 0 | 0 | 18614 |
| First Trust Industrials/Producer Durables AlphaDEX Fund | COM | 33734X150 |  | 1543793 | 19777 | SH |  | SOLE |  | 0 | 0 | 19777 |
| First Trust Materials AlphaDEX Fund | COM | 33734X168 |  | 311707 | 5061 | SH |  | SOLE |  | 0 | 0 | 5061 |
| First Trust NASDAQ-100 Technology Sector Index Fund | COM | 337345102 |  | 417431 | 1818 | SH |  | SOLE |  | 0 | 0 | 1818 |
| First Trust NYSE Arca Biotechnology Index Fund | COM | 33733E203 |  | 2090163 | 11658 | SH |  | SOLE |  | 0 | 0 | 11658 |
| First Trust Technology AlphaDEX Fund | COM | 33734X176 |  | 417455 | 2485 | SH |  | SOLE |  | 0 | 0 | 2485 |
| Flotek Industries Inc. | COM | 343389409 |  | 1204923 | 82529 | SH |  | SOLE |  | 0 | 0 | 82529 |
| Flowserve Corporation | COM | 34354P105 |  | 1847738 | 34771 | SH |  | SOLE |  | 0 | 0 | 34771 |
| Fortinet Inc. | COM | 34959E109 |  | 225587 | 2683 | SH |  | SOLE |  | 0 | 0 | 2683 |
| Frequency Electronics Inc. | COM | 358010106 |  | 914756 | 26976 | SH |  | SOLE |  | 0 | 0 | 26976 |
| Fresh Del Monte Produce Inc. | COM | G36738105 |  | 2863593 | 82477 | SH |  | SOLE |  | 0 | 0 | 82477 |
| FTAI Aviation Ltd. | COM | G3730V105 |  | 693804 | 4158 | SH |  | SOLE |  | 0 | 0 | 4158 |
| Garmin Ltd. | COM | H2906T109 |  | 1963813 | 7976 | SH |  | SOLE |  | 0 | 0 | 7976 |
| GE Vernova Inc. | COM | 36828A101 |  | 4613595 | 7503 | SH |  | SOLE |  | 0 | 0 | 7503 |
| General Dynamics Corporation | COM | 369550108 |  | 3602683 | 10565 | SH |  | SOLE |  | 0 | 0 | 10565 |
| Genuine Parts Company | COM | 372460105 |  | 654371 | 4721 | SH |  | SOLE |  | 0 | 0 | 4721 |
| Genworth Financial Inc. | COM | 37247D106 |  | 222571 | 25008 | SH |  | SOLE |  | 0 | 0 | 25008 |
| Getty Realty Corp. | COM | 374297109 |  | 386877 | 14420 | SH |  | SOLE |  | 0 | 0 | 14420 |
| Golub Capital BDC Inc. | COM | 38173M102 |  | 308025 | 22500 | SH |  | SOLE |  | 0 | 0 | 22500 |
| Grab Holdings Limited Class A | COM | G4124C109 |  | 559415 | 92926 | SH |  | SOLE |  | 0 | 0 | 92926 |
| Graham Corporation | COM | 384556106 |  | 453858 | 8267 | SH |  | SOLE |  | 0 | 0 | 8267 |
| Guardant Health Inc. | COM | 40131M109 |  | 484470 | 7754 | SH |  | SOLE |  | 0 | 0 | 7754 |
| Guidewire Software Inc. | COM | 40171V100 |  | 8066707 | 35094 | SH |  | SOLE |  | 0 | 0 | 35094 |
| HCI Group Inc. | COM | 40416E103 |  | 2143685 | 11169 | SH |  | SOLE |  | 0 | 0 | 11169 |
| HEICO Corporation | COM | 422806109 |  | 938761 | 2908 | SH |  | SOLE |  | 0 | 0 | 2908 |
| Hennessy Advisors Inc. | COM | 425885100 |  | 769618 | 73647 | SH |  | SOLE |  | 0 | 0 | 73647 |
| Heritage Insurance Holdings Inc. | COM | 42727J102 |  | 1071686 | 42561 | SH |  | SOLE |  | 0 | 0 | 42561 |
| Hershey Company | COM | 427866108 |  | 428039 | 2288 | SH |  | SOLE |  | 0 | 0 | 2288 |
| Hesai Group Sponsored ADR | COM | 428050108 |  | 2387882 | 84978 | SH |  | SOLE |  | 0 | 0 | 84978 |
| Hess Midstream LP Class A | COM | 428103105 |  | 441549 | 12780 | SH |  | SOLE |  | 0 | 0 | 12780 |
| Hims  Hers Health Inc. Class A | COM | 433000106 |  | 5256639 | 92677 | SH |  | SOLE |  | 0 | 0 | 92677 |
| Home Depot Inc. | COM | 437076102 |  | 1255560 | 3099 | SH |  | SOLE |  | 0 | 0 | 3099 |
| Honeywell International Inc. | COM | 438516106 |  | 239970 | 1140 | SH |  | SOLE |  | 0 | 0 | 1140 |
| Howmet Aerospace Inc. | COM | 443201108 |  | 15340122 | 78174 | SH |  | SOLE |  | 0 | 0 | 78174 |
| Huntington Bancshares Incorporated | COM | 446150104 |  | 531156 | 30756 | SH |  | SOLE |  | 0 | 0 | 30756 |
| IBEX Ltd | COM | G4690M101 |  | 1138653 | 28101 | SH |  | SOLE |  | 0 | 0 | 28101 |
| Idaho Strategic Resources Inc | COM | 645827205 |  | 4933441 | 146003 | SH |  | SOLE |  | 0 | 0 | 146003 |
| IES Holdings Inc. | COM | 44951W106 |  | 1987852 | 4999 | SH |  | SOLE |  | 0 | 0 | 4999 |
| Ingredion Incorporated | COM | 457187102 |  | 3355482 | 27479 | SH |  | SOLE |  | 0 | 0 | 27479 |
| Innodata Inc. | COM | 457642205 |  | 206856 | 2684 | SH |  | SOLE |  | 0 | 0 | 2684 |
| Innovative Solutions and Support Inc. | COM | 45769N105 |  | 1148031 | 91916 | SH |  | SOLE |  | 0 | 0 | 91916 |
| Intel Corporation | COM | 458140100 |  | 740448 | 22070 | SH |  | SOLE |  | 0 | 0 | 22070 |
| Interactive Brokers Group Inc. Class A | COM | 45841N107 |  | 1060706 | 15415 | SH |  | SOLE |  | 0 | 0 | 15415 |
| Intercontinental Exchange Inc. | COM | 45866F104 |  | 612425 | 3635 | SH |  | SOLE |  | 0 | 0 | 3635 |
| International Business Machines Corporation | COM | 459200101 |  | 1600676 | 5673 | SH |  | SOLE |  | 0 | 0 | 5673 |
| International General Insurance Holdings Ltd. | COM | G4809J106 |  | 558981 | 24094 | SH |  | SOLE |  | 0 | 0 | 24094 |
| Invesco QQQ Trust Series I | COM | 46090E103 |  | 497106 | 828 | SH |  | SOLE |  | 0 | 0 | 828 |
| IonQ Inc. | COM | 46222L108 |  | 1523355 | 24770 | SH |  | SOLE |  | 0 | 0 | 24770 |
| iShares Biotechnology ETF | COM | 464287556 |  | 515690 | 3572 | SH |  | SOLE |  | 0 | 0 | 3572 |
| iShares Core S 500 ETF | COM | 464287200 |  | 990564 | 1480 | SH |  | SOLE |  | 0 | 0 | 1480 |
| iShares Core S Mid-Cap ETF | COM | 464287507 |  | 760279 | 11650 | SH |  | SOLE |  | 0 | 0 | 11650 |
| iShares MSCI ACWI ETF | COM | 464288257 |  | 297078 | 2149 | SH |  | SOLE |  | 0 | 0 | 2149 |
| iShares MSCI Canada ETF | COM | 464286509 |  | 1125041 | 22256 | SH |  | SOLE |  | 0 | 0 | 22256 |
| iShares MSCI EAFE Growth ETF | COM | 464288885 |  | 3032966 | 26633 | SH |  | SOLE |  | 0 | 0 | 26633 |
| iShares MSCI EAFE Value ETF | COM | 464288877 |  | 2260977 | 33333 | SH |  | SOLE |  | 0 | 0 | 33333 |
| iShares MSCI Emerging Markets ETF | COM | 464287234 |  | 1278983 | 23951 | SH |  | SOLE |  | 0 | 0 | 23951 |
| iShares MSCI Japan ETF | COM | 46434G822 |  | 1575565 | 19643 | SH |  | SOLE |  | 0 | 0 | 19643 |
| iShares U.S. Energy ETF | COM | 464287796 |  | 714558 | 15037 | SH |  | SOLE |  | 0 | 0 | 15037 |
| iShares U.S. Financials ETF | COM | 464287788 |  | 498962 | 3940 | SH |  | SOLE |  | 0 | 0 | 3940 |
| iShares U.S. Healthcare ETF | COM | 464287762 |  | 500940 | 8531 | SH |  | SOLE |  | 0 | 0 | 8531 |
| iShares U.S. Industrials ETF | COM | 464287754 |  | 823610 | 5646 | SH |  | SOLE |  | 0 | 0 | 5646 |
| iShares U.S. Technology ETF | COM | 464287721 |  | 1673232 | 8543 | SH |  | SOLE |  | 0 | 0 | 8543 |
| Itron Inc. | COM | 465741106 |  | 1134617 | 9109 | SH |  | SOLE |  | 0 | 0 | 9109 |
| Ituran Location and Control Ltd. | COM | M6158M104 |  | 576521 | 16140 | SH |  | SOLE |  | 0 | 0 | 16140 |
| Jabil Inc. | COM | 466313103 |  | 340305 | 1567 | SH |  | SOLE |  | 0 | 0 | 1567 |
| Johnson  Johnson | COM | 478160104 |  | 2830436 | 15265 | SH |  | SOLE |  | 0 | 0 | 15265 |
| JPMorgan Chase  Co. | COM | 46625H100 |  | 3009202 | 9540 | SH |  | SOLE |  | 0 | 0 | 9540 |
| Kinder Morgan Inc Class P | COM | 49456B101 |  | 344839 | 12181 | SH |  | SOLE |  | 0 | 0 | 12181 |
| Kinross Gold Corporation | COM | 496902404 |  | 13419422 | 540017 | SH |  | SOLE |  | 0 | 0 | 540017 |
| KLA Corporation | COM | 482480100 |  | 2688950 | 2493 | SH |  | SOLE |  | 0 | 0 | 2493 |
| Kroger Co. | COM | 501044101 |  | 3945928 | 58536 | SH |  | SOLE |  | 0 | 0 | 58536 |
| Lam Research Corporation | COM | 512807306 |  | 4632940 | 34600 | SH |  | SOLE |  | 0 | 0 | 34600 |
| Lamar Advertising Company Class A | COM | 512816109 |  | 806330 | 6587 | SH |  | SOLE |  | 0 | 0 | 6587 |
| Laureate Education Inc. | COM | 518613203 |  | 583585 | 18503 | SH |  | SOLE |  | 0 | 0 | 18503 |
| LifeVantage Corporation | COM | 53222K205 |  | 480214 | 49354 | SH |  | SOLE |  | 0 | 0 | 49354 |
| Limbach Holdings Inc. | COM | 53263P105 |  | 562228 | 5789 | SH |  | SOLE |  | 0 | 0 | 5789 |
| Lowe's Companies Inc. | COM | 548661107 |  | 1033135 | 4111 | SH |  | SOLE |  | 0 | 0 | 4111 |
| MakeMyTrip Ltd. | COM | V5633W109 |  | 464911 | 4967 | SH |  | SOLE |  | 0 | 0 | 4967 |
| Marex Group plc | COM | G5S37H101 |  | 257361 | 7655 | SH |  | SOLE |  | 0 | 0 | 7655 |
| Masimo Corporation | COM | 574795100 |  | 931040 | 6310 | SH |  | SOLE |  | 0 | 0 | 6310 |
| MasTec Inc. | COM | 576323109 |  | 413915 | 1945 | SH |  | SOLE |  | 0 | 0 | 1945 |
| Mastercard Incorporated Class A | COM | 57636Q104 |  | 982904 | 1728 | SH |  | SOLE |  | 0 | 0 | 1728 |
| McDonald's Corporation | COM | 580135101 |  | 1805107 | 5940 | SH |  | SOLE |  | 0 | 0 | 5940 |
| McGrath RentCorp | COM | 580589109 |  | 273192 | 2329 | SH |  | SOLE |  | 0 | 0 | 2329 |
| Merck  Co. Inc. | COM | 58933Y105 |  | 704424 | 8393 | SH |  | SOLE |  | 0 | 0 | 8393 |
| Meta Platforms Inc Class A | COM | 30303M102 |  | 7962904 | 10843 | SH |  | SOLE |  | 0 | 0 | 10843 |
| Microsoft Corporation | COM | 594918104 |  | 10131160 | 19560 | SH |  | SOLE |  | 0 | 0 | 19560 |
| Monolithic Power Systems Inc. | COM | 609839105 |  | 520162 | 565 | SH |  | SOLE |  | 0 | 0 | 565 |
| MPLX LP | COM | 55336V100 |  | 489535 | 9801 | SH |  | SOLE |  | 0 | 0 | 9801 |
| Mueller Industries Inc. | COM | 624756102 |  | 1415034 | 13995 | SH |  | SOLE |  | 0 | 0 | 13995 |
| Nasdaq Inc. | COM | 631103108 |  | 373182 | 4219 | SH |  | SOLE |  | 0 | 0 | 4219 |
| National Storage Affiliates Trust | COM | 637870106 |  | 455929 | 15087 | SH |  | SOLE |  | 0 | 0 | 15087 |
| Natural Grocers by Vitamin Cottage Inc. | COM | 63888U108 |  | 956720 | 23918 | SH |  | SOLE |  | 0 | 0 | 23918 |
| Nestle S.A. Sponsored ADR | COM | 641069406 |  | 531624 | 5793 | SH |  | SOLE |  | 0 | 0 | 5793 |
| Netflix Inc. | COM | 64110L106 |  | 356079 | 297 | SH |  | SOLE |  | 0 | 0 | 297 |
| New Gold Inc. | COM | 644535106 |  | 1075363 | 149772 | SH |  | SOLE |  | 0 | 0 | 149772 |
| NextEra Energy Inc. | COM | 65339F101 |  | 1871019 | 24785 | SH |  | SOLE |  | 0 | 0 | 24785 |
| Nexxen International Ltd. | COM | M8T80P204 |  | 1018943 | 110156 | SH |  | SOLE |  | 0 | 0 | 110156 |
| Niagen Bioscience Inc. | COM | 171077407 |  | 1768352 | 189534 | SH |  | SOLE |  | 0 | 0 | 189534 |
| Norfolk Southern Corporation | COM | 655844108 |  | 1111517 | 3700 | SH |  | SOLE |  | 0 | 0 | 3700 |
| Northern Technologies International Corporation | COM | 665809109 |  | 192750 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| Northern Trust Corporation | COM | 665859104 |  | 625352 | 4646 | SH |  | SOLE |  | 0 | 0 | 4646 |
| Northrop Grumman Corp. | COM | 666807102 |  | 466328 | 765 | SH |  | SOLE |  | 0 | 0 | 765 |
| Nova Ltd. | COM | M7516K103 |  | 455516 | 1425 | SH |  | SOLE |  | 0 | 0 | 1425 |
| NRG Energy Inc. | COM | 629377508 |  | 3577162 | 22088 | SH |  | SOLE |  | 0 | 0 | 22088 |
| Nutanix Inc. Class A | COM | 67059N108 |  | 6038013 | 81167 | SH |  | SOLE |  | 0 | 0 | 81167 |
| NVIDIA Corporation | COM | 67066G104 |  | 107389172 | 575566 | SH |  | SOLE |  | 0 | 0 | 575566 |
| OGE Energy Corp. | COM | 670837103 |  | 1035287 | 22375 | SH |  | SOLE |  | 0 | 0 | 22375 |
| Oil-Dri Corporation of America | COM | 677864100 |  | 700678 | 11479 | SH |  | SOLE |  | 0 | 0 | 11479 |
| Old Dominion Freight Line Inc. | COM | 679580100 |  | 337309 | 2396 | SH |  | SOLE |  | 0 | 0 | 2396 |
| Old Republic International Corporation | COM | 680223104 |  | 899116 | 21171 | SH |  | SOLE |  | 0 | 0 | 21171 |
| ONEOK Inc. | COM | 682680103 |  | 654512 | 8970 | SH |  | SOLE |  | 0 | 0 | 8970 |
| OR Royalties Inc. | COM | 68390D106 |  | 1451177 | 36207 | SH |  | SOLE |  | 0 | 0 | 36207 |
| Oracle Corporation | COM | 68389X105 |  | 1619661 | 5759 | SH |  | SOLE |  | 0 | 0 | 5759 |
| Palantir Technologies Inc. Class A | COM | 69608A108 |  | 16047487 | 87970 | SH |  | SOLE |  | 0 | 0 | 87970 |
| Palo Alto Networks Inc. | COM | 697435105 |  | 756652 | 3716 | SH |  | SOLE |  | 0 | 0 | 3716 |
| Palomar Holdings Inc. | COM | 69753M105 |  | 785144 | 6725 | SH |  | SOLE |  | 0 | 0 | 6725 |
| Parker-Hannifin Corporation | COM | 701094104 |  | 3182723 | 4198 | SH |  | SOLE |  | 0 | 0 | 4198 |
| Paymentus Holdings Inc Class A | COM | 70439P108 |  | 2829551 | 92469 | SH |  | SOLE |  | 0 | 0 | 92469 |
| PennyMac Financial Services Inc. | COM | 70932M107 |  | 309700 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| PepsiCo Inc. | COM | 713448108 |  | 3970368 | 28271 | SH |  | SOLE |  | 0 | 0 | 28271 |
| Perimeter Solutions Inc | COM | 71385M107 |  | 2479782 | 110754 | SH |  | SOLE |  | 0 | 0 | 110754 |
| Phibro Animal Health Corporation Class A | COM | 71742Q106 |  | 2088788 | 51626 | SH |  | SOLE |  | 0 | 0 | 51626 |
| Philip Morris International Inc. | COM | 718172109 |  | 894695 | 5516 | SH |  | SOLE |  | 0 | 0 | 5516 |
| Phillips 66 | COM | 718546104 |  | 6649765 | 48888 | SH |  | SOLE |  | 0 | 0 | 48888 |
| Pilgrim's Pride Corporation | COM | 72147K108 |  | 2420397 | 59440 | SH |  | SOLE |  | 0 | 0 | 59440 |
| Plains GP Holdings LP Class A | COM | 72651A207 |  | 260376 | 14275 | SH |  | SOLE |  | 0 | 0 | 14275 |
| Porsche Automobil Holding SE Unsponsored ADR | COM | 73328P106 |  | 217816 | 55424 | SH |  | SOLE |  | 0 | 0 | 55424 |
| Powell Industries Inc. | COM | 739128106 |  | 1132131 | 3714 | SH |  | SOLE |  | 0 | 0 | 3714 |
| Power Solutions International Inc. | COM | 73933G202 |  | 6301795 | 64160 | SH |  | SOLE |  | 0 | 0 | 64160 |
| PrimeEnergy Resources Corporation | COM | 74158E104 |  | 578592 | 3464 | SH |  | SOLE |  | 0 | 0 | 3464 |
| Primoris Services Corporation | COM | 74164F103 |  | 326296 | 2376 | SH |  | SOLE |  | 0 | 0 | 2376 |
| Pro-Dex Inc. | COM | 74265M205 |  | 649615 | 19191 | SH |  | SOLE |  | 0 | 0 | 19191 |
| Procter  Gamble Company | COM | 742718109 |  | 2995576 | 19496 | SH |  | SOLE |  | 0 | 0 | 19496 |
| Progressive Corporation | COM | 743315103 |  | 9780766 | 39606 | SH |  | SOLE |  | 0 | 0 | 39606 |
| Quanta Services Inc. | COM | 74762E102 |  | 19794485 | 47764 | SH |  | SOLE |  | 0 | 0 | 47764 |
| QXO Inc. | COM | 82846H405 |  | 594405 | 31186 | SH |  | SOLE |  | 0 | 0 | 31186 |
| RadNet Inc. | COM | 750491102 |  | 390881 | 5129 | SH |  | SOLE |  | 0 | 0 | 5129 |
| REV Group Inc. | COM | 749527107 |  | 1799839 | 31760 | SH |  | SOLE |  | 0 | 0 | 31760 |
| Robinhood Markets Inc. Class A | COM | 770700102 |  | 11393835 | 79577 | SH |  | SOLE |  | 0 | 0 | 79577 |
| Rocket Lab Corporation | COM | 773121108 |  | 1148882 | 23980 | SH |  | SOLE |  | 0 | 0 | 23980 |
| Royal Caribbean Group | COM | V7780T103 |  | 19384813 | 59907 | SH |  | SOLE |  | 0 | 0 | 59907 |
| Royal Gold Inc. | COM | 780287108 |  | 572255 | 2853 | SH |  | SOLE |  | 0 | 0 | 2853 |
| RTX Corporation | COM | 75513E101 |  | 649826 | 3884 | SH |  | SOLE |  | 0 | 0 | 3884 |
| S Global Inc. | COM | 78409V104 |  | 694048 | 1426 | SH |  | SOLE |  | 0 | 0 | 1426 |
| Salesforce Inc. | COM | 79466L302 |  | 1115836 | 4708 | SH |  | SOLE |  | 0 | 0 | 4708 |
| Sanmina Corporation | COM | 801056102 |  | 565190 | 4910 | SH |  | SOLE |  | 0 | 0 | 4910 |
| SAP SE Sponsored ADR | COM | 803054204 |  | 3095895 | 11586 | SH |  | SOLE |  | 0 | 0 | 11586 |
| Sea Limited Sponsored ADR Class A | COM | 81141R100 |  | 4661457 | 26081 | SH |  | SOLE |  | 0 | 0 | 26081 |
| ServiceNow Inc. | COM | 81762P102 |  | 282526 | 307 | SH |  | SOLE |  | 0 | 0 | 307 |
| Sezzle Inc. | COM | 78435P105 |  | 4457338 | 56046 | SH |  | SOLE |  | 0 | 0 | 56046 |
| Siebert Financial Corp. | COM | 826176109 |  | 431921 | 147918 | SH |  | SOLE |  | 0 | 0 | 147918 |
| Sinovac Biotech Ltd. | COM | P8696W104 |  | 0 | 13568 | SH |  | SOLE |  | 0 | 0 | 13568 |
| Skyward Specialty Insurance Group Inc. | COM | 830940102 |  | 1132023 | 23802 | SH |  | SOLE |  | 0 | 0 | 23802 |
| SkyWest Inc | COM | 830879102 |  | 5691369 | 56563 | SH |  | SOLE |  | 0 | 0 | 56563 |
| SPDR Gold Shares | COM | 78463V107 |  | 1139281 | 3205 | SH |  | SOLE |  | 0 | 0 | 3205 |
| SPDR S 500 ETF Trust | COM | 78462F103 |  | 2013196 | 3022 | SH |  | SOLE |  | 0 | 0 | 3022 |
| Sportradar Group AG Class A | COM | H8088L103 |  | 1867021 | 69406 | SH |  | SOLE |  | 0 | 0 | 69406 |
| Sprouts Farmers Market Inc. | COM | 85208M102 |  | 4834419 | 44434 | SH |  | SOLE |  | 0 | 0 | 44434 |
| SS Technologies Holdings Inc. | COM | 78467J100 |  | 2701419 | 30435 | SH |  | SOLE |  | 0 | 0 | 30435 |
| SSR Mining Inc | COM | 784730103 |  | 2451060 | 100371 | SH |  | SOLE |  | 0 | 0 | 100371 |
| Steel Dynamics Inc. | COM | 858119100 |  | 1205233 | 8644 | SH |  | SOLE |  | 0 | 0 | 8644 |
| StoneX Group Inc. | COM | 861896108 |  | 1078734 | 10689 | SH |  | SOLE |  | 0 | 0 | 10689 |
| Strategy Inc Class A | COM | 594972408 |  | 2259014 | 7011 | SH |  | SOLE |  | 0 | 0 | 7011 |
| Super Micro Computer Inc. | COM | 86800U302 |  | 15052489 | 313986 | SH |  | SOLE |  | 0 | 0 | 313986 |
| Synovus Financial Corp. | COM | 87161C501 |  | 200737 | 4090 | SH |  | SOLE |  | 0 | 0 | 4090 |
| T-Mobile US Inc. | COM | 872590104 |  | 4667719 | 19499 | SH |  | SOLE |  | 0 | 0 | 19499 |
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | COM | 874039100 |  | 372843 | 1335 | SH |  | SOLE |  | 0 | 0 | 1335 |
| Talen Energy Corp | COM | 87422Q109 |  | 2265574 | 5326 | SH |  | SOLE |  | 0 | 0 | 5326 |
| Targa Resources Corp. | COM | 87612G101 |  | 10873451 | 64901 | SH |  | SOLE |  | 0 | 0 | 64901 |
| TAT Technologies Ltd. | COM | M8740S227 |  | 1130426 | 25674 | SH |  | SOLE |  | 0 | 0 | 25674 |
| TD SYNNEX Corporation | COM | 87162W100 |  | 281486 | 1719 | SH |  | SOLE |  | 0 | 0 | 1719 |
| TechnipFMC plc | COM | G87110105 |  | 3516257 | 89132 | SH |  | SOLE |  | 0 | 0 | 89132 |
| Tencent Music Entertainment Group Sponsored ADR Class A | COM | 88034P109 |  | 1531501 | 65617 | SH |  | SOLE |  | 0 | 0 | 65617 |
| TeraWulf Inc. | COM | 88080T104 |  | 593977 | 52012 | SH |  | SOLE |  | 0 | 0 | 52012 |
| Texas Instruments Incorporated | COM | 882508104 |  | 353836 | 1926 | SH |  | SOLE |  | 0 | 0 | 1926 |
| TPG Inc Class A | COM | 872657101 |  | 542213 | 9438 | SH |  | SOLE |  | 0 | 0 | 9438 |
| Trane Technologies plc | COM | G8994E103 |  | 5215848 | 12361 | SH |  | SOLE |  | 0 | 0 | 12361 |
| TTM Technologies Inc. | COM | 87305R109 |  | 3270989 | 56788 | SH |  | SOLE |  | 0 | 0 | 56788 |
| Tutor Perini Corporation | COM | 901109108 |  | 1432879 | 21846 | SH |  | SOLE |  | 0 | 0 | 21846 |
| Tyler Technologies Inc. | COM | 902252105 |  | 1634875 | 3125 | SH |  | SOLE |  | 0 | 0 | 3125 |
| Ubiquiti Inc. | COM | 90353W103 |  | 6188974 | 9369 | SH |  | SOLE |  | 0 | 0 | 9369 |
| UFP Technologies Inc. | COM | 902673102 |  | 388621 | 1947 | SH |  | SOLE |  | 0 | 0 | 1947 |
| Unilever PLC Sponsored ADR | COM | 904767704 |  | 681246 | 11492 | SH |  | SOLE |  | 0 | 0 | 11492 |
| Union Pacific Corporation | COM | 907818108 |  | 1651044 | 6985 | SH |  | SOLE |  | 0 | 0 | 6985 |
| UnitedHealth Group Incorporated | COM | 91324P102 |  | 702734 | 2035 | SH |  | SOLE |  | 0 | 0 | 2035 |
| Universal Corp | COM | 913456109 |  | 3894258 | 69702 | SH |  | SOLE |  | 0 | 0 | 69702 |
| Universal Technical Institute Inc. | COM | 913915104 |  | 4635706 | 142418 | SH |  | SOLE |  | 0 | 0 | 142418 |
| Uranium Energy Corp. | COM | 916896103 |  | 1013520 | 75976 | SH |  | SOLE |  | 0 | 0 | 75976 |
| Valero Energy Corporation | COM | 91913Y100 |  | 3092628 | 18164 | SH |  | SOLE |  | 0 | 0 | 18164 |
| Vanguard Dividend Appreciation ETF | COM | 921908844 |  | 381084 | 1766 | SH |  | SOLE |  | 0 | 0 | 1766 |
| Vanguard FTSE All-World ex-US Index Fund | COM | 922042775 |  | 309246 | 4333 | SH |  | SOLE |  | 0 | 0 | 4333 |
| Vanguard FTSE Europe ETF | COM | 922042874 |  | 1069240 | 13399 | SH |  | SOLE |  | 0 | 0 | 13399 |
| Veeva Systems Inc Class A | COM | 922475108 |  | 275865 | 926 | SH |  | SOLE |  | 0 | 0 | 926 |
| VeriSign Inc. | COM | 92343E102 |  | 4889987 | 17491 | SH |  | SOLE |  | 0 | 0 | 17491 |
| Verizon Communications Inc. | COM | 92343V104 |  | 1391742 | 31666 | SH |  | SOLE |  | 0 | 0 | 31666 |
| Vertiv Holdings Co. Class A | COM | 92537N108 |  | 10505084 | 69635 | SH |  | SOLE |  | 0 | 0 | 69635 |
| Viper Energy Inc. | COM | 64361Q101 |  | 2852359 | 74630 | SH |  | SOLE |  | 0 | 0 | 74630 |
| Virtu Financial Inc. Class A | COM | 928254101 |  | 1479356 | 41672 | SH |  | SOLE |  | 0 | 0 | 41672 |
| Visa Inc. Class A | COM | 92826C839 |  | 857287 | 2511 | SH |  | SOLE |  | 0 | 0 | 2511 |
| Vital Farms Inc. | COM | 92847W103 |  | 309489 | 7521 | SH |  | SOLE |  | 0 | 0 | 7521 |
| VNET Group Inc. Sponsored ADR | COM | 90138A103 |  | 956816 | 92625 | SH |  | SOLE |  | 0 | 0 | 92625 |
| Walmart Inc. | COM | 931142103 |  | 10819458 | 104982 | SH |  | SOLE |  | 0 | 0 | 104982 |
| Walt Disney Company | COM | 254687106 |  | 443537 | 3874 | SH |  | SOLE |  | 0 | 0 | 3874 |
| Wasatch Core Growth Fund | COM | 936772201 |  | 803786 | 9674 | SH |  | SOLE |  | 0 | 0 | 9674 |
| Waste Connections Inc. | COM | 94106B101 |  | 730625 | 4156 | SH |  | SOLE |  | 0 | 0 | 4156 |
| Waste Management Inc. | COM | 94106L109 |  | 227048 | 1028 | SH |  | SOLE |  | 0 | 0 | 1028 |
| Western Midstream Partners LP | COM | 958669103 |  | 457139 | 11635 | SH |  | SOLE |  | 0 | 0 | 11635 |
| Willdan Group Inc. | COM | 96924N100 |  | 1321849 | 13671 | SH |  | SOLE |  | 0 | 0 | 13671 |
| Willis Lease Finance Corporation | COM | 970646105 |  | 615945 | 4493 | SH |  | SOLE |  | 0 | 0 | 4493 |
| Wintrust Financial Corporation | COM | 97650W108 |  | 587769 | 4438 | SH |  | SOLE |  | 0 | 0 | 4438 |
| WisdomTree Inc. | COM | 97717P104 |  | 192168 | 13825 | SH |  | SOLE |  | 0 | 0 | 13825 |
| Woodward Inc. | COM | 980745103 |  | 2134644 | 8447 | SH |  | SOLE |  | 0 | 0 | 8447 |
| Xcel Energy Inc. | COM | 98389B100 |  | 3123736 | 38732 | SH |  | SOLE |  | 0 | 0 | 38732 |
| Xylem Inc. | COM | 98419M100 |  | 246834 | 1673 | SH |  | SOLE |  | 0 | 0 | 1673 |
| Yum! Brands Inc. | COM | 988498101 |  | 620901 | 4085 | SH |  | SOLE |  | 0 | 0 | 4085 |

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