# EDGAR Filing Document

**Accession Number:** 0000872163
**File Stem:** 0001104659-25-075089
**Filing Date:** 2025-8
**Character Count:** 34258
**Document Hash:** c4b55da96538280a0bb0af667d3fbce3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-075089.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001104659-25-075089

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**EFFECTIVENESS DATE**: 20250807

**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:** 251192602

**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:** 06-30-2025

**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  08-05-2025<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:** 307

**Form 13F Information Table Value Total:** $807368520

      (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 |  | 738670 | 5431 | SH |  | SOLE |  | 0 | 0 | 5431 |
| AbbVie Inc. | COM | 00287Y109 |  | 5741643 | 30932 | SH |  | SOLE |  | 0 | 0 | 30932 |
| ADMA Biologics Inc. | COM | 000899104 |  | 3094972 | 169960 | SH |  | SOLE |  | 0 | 0 | 169960 |
| Adtalem Global Education Inc. | COM | 00737L103 |  | 817198 | 6423 | SH |  | SOLE |  | 0 | 0 | 6423 |
| Advanced Micro Devices Inc. | COM | 007903107 |  | 291463 | 2054 | SH |  | SOLE |  | 0 | 0 | 2054 |
| AECOM | COM | 00766T100 |  | 3806204 | 33725 | SH |  | SOLE |  | 0 | 0 | 33725 |
| AeroVironment Inc. | COM | 008073108 |  | 254460 | 893 | SH |  | SOLE |  | 0 | 0 | 893 |
| Agilysys Inc. | COM | 00847J105 |  | 363753 | 3173 | SH |  | SOLE |  | 0 | 0 | 3173 |
| Agnico Eagle Mines Limited | COM | 008474108 |  | 7481530 | 62907 | SH |  | SOLE |  | 0 | 0 | 62907 |
| Air Products and Chemicals Inc. | COM | 009158106 |  | 641686 | 2275 | SH |  | SOLE |  | 0 | 0 | 2275 |
| Alamos Gold Inc. | COM | 011532108 |  | 7254944 | 273153 | SH |  | SOLE |  | 0 | 0 | 273153 |
| Alaska Air Group Inc. | COM | 011659109 |  | 288765 | 5836 | SH |  | SOLE |  | 0 | 0 | 5836 |
| Allison Transmission Holdings Inc. | COM | 01973R101 |  | 3715879 | 39119 | SH |  | SOLE |  | 0 | 0 | 39119 |
| Allstate Corporation | COM | 020002101 |  | 6566021 | 32616 | SH |  | SOLE |  | 0 | 0 | 32616 |
| Alphabet Inc. Class A | COM | 02079K305 |  | 1683349 | 9552 | SH |  | SOLE |  | 0 | 0 | 9552 |
| Alphabet Inc. Class C | COM | 02079K107 |  | 1030636 | 5810 | SH |  | SOLE |  | 0 | 0 | 5810 |
| Amazon.com Inc. | COM | 023135106 |  | 3990485 | 18189 | SH |  | SOLE |  | 0 | 0 | 18189 |
| Amcor PLC | COM | G0250X107 |  | 648722 | 70590 | SH |  | SOLE |  | 0 | 0 | 70590 |
| American Electric Power Company Inc. | COM | 025537101 |  | 290528 | 2800 | SH |  | SOLE |  | 0 | 0 | 2800 |
| American Express Company | COM | 025816109 |  | 542266 | 1700 | SH |  | SOLE |  | 0 | 0 | 1700 |
| American International Group Inc. | COM | 026874784 |  | 269608 | 3150 | SH |  | SOLE |  | 0 | 0 | 3150 |
| Amgen Inc. | COM | 031162100 |  | 3691435 | 13221 | SH |  | SOLE |  | 0 | 0 | 13221 |
| Analog Devices Inc. | COM | 032654105 |  | 906856 | 3810 | SH |  | SOLE |  | 0 | 0 | 3810 |
| Apollo Global Management Inc | COM | 03769M106 |  | 598124 | 4216 | SH |  | SOLE |  | 0 | 0 | 4216 |
| AppFolio Inc Class A | COM | 03783C100 |  | 230280 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| Apple Inc. | COM | 037833100 |  | 9453962 | 46079 | SH |  | SOLE |  | 0 | 0 | 46079 |
| Applied Industrial Technologies Inc. | COM | 03820C105 |  | 614365 | 2643 | SH |  | SOLE |  | 0 | 0 | 2643 |
| Applied Materials Inc. | COM | 038222105 |  | 201649 | 1101 | SH |  | SOLE |  | 0 | 0 | 1101 |
| AppLovin Corp. Class A | COM | 03831W108 |  | 8112054 | 23172 | SH |  | SOLE |  | 0 | 0 | 23172 |
| Archrock Inc. | COM | 03957W106 |  | 5683261 | 228887 | SH |  | SOLE |  | 0 | 0 | 228887 |
| Arcos Dorados Holdings Inc. Class A | COM | G0457F107 |  | 216975 | 27500 | SH |  | SOLE |  | 0 | 0 | 27500 |
| Argan Inc. | COM | 04010E109 |  | 5821171 | 26402 | SH |  | SOLE |  | 0 | 0 | 26402 |
| argenx SE Sponsored ADR | COM | 04016X101 |  | 3604428 | 6539 | SH |  | SOLE |  | 0 | 0 | 6539 |
| Arista Networks Inc. | COM | 040413205 |  | 5732327 | 56029 | SH |  | SOLE |  | 0 | 0 | 56029 |
| Atmos Energy Corporation | COM | 049560105 |  | 3830558 | 24856 | SH |  | SOLE |  | 0 | 0 | 24856 |
| Automatic Data Processing Inc. | COM | 053015103 |  | 561834 | 1822 | SH |  | SOLE |  | 0 | 0 | 1822 |
| Axon Enterprise Inc | COM | 05464C101 |  | 11654083 | 14076 | SH |  | SOLE |  | 0 | 0 | 14076 |
| Baker Hughes Company Class A | COM | 05722G100 |  | 2572346 | 67093 | SH |  | SOLE |  | 0 | 0 | 67093 |
| Bank of America Corp | COM | 060505104 |  | 591500 | 12500 | SH |  | SOLE |  | 0 | 0 | 12500 |
| BioCryst Pharmaceuticals Inc. | COM | 09058V103 |  | 204494 | 22823 | SH |  | SOLE |  | 0 | 0 | 22823 |
| Biogen Inc. | COM | 09062X103 |  | 271777 | 2164 | SH |  | SOLE |  | 0 | 0 | 2164 |
| BJ's Wholesale Club Holdings Inc. | COM | 05550J101 |  | 248117 | 2301 | SH |  | SOLE |  | 0 | 0 | 2301 |
| Black Hills Corporation | COM | 092113109 |  | 495700 | 8836 | SH |  | SOLE |  | 0 | 0 | 8836 |
| BlackSky Technology Inc Warrant 2021-09.09.26 on BlackSky Technology 20.000 09/09/2026 | COM | 09263B116 |  | 2957 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| Bloom Energy Corporation Class A | COM | 093712107 |  | 1137109 | 47538 | SH |  | SOLE |  | 0 | 0 | 47538 |
| Booz Allen Hamilton Holding Corporation Class A | COM | 099502106 |  | 2221197 | 21331 | SH |  | SOLE |  | 0 | 0 | 21331 |
| Boston Scientific Corporation | COM | 101137107 |  | 5111964 | 47593 | SH |  | SOLE |  | 0 | 0 | 47593 |
| Brinker International Inc. | COM | 109641100 |  | 2654458 | 14720 | SH |  | SOLE |  | 0 | 0 | 14720 |
| Bristol-Myers Squibb Company | COM | 110122108 |  | 421239 | 9100 | SH |  | SOLE |  | 0 | 0 | 9100 |
| Broadcom Inc. | COM | 11135F101 |  | 3266606 | 11851 | SH |  | SOLE |  | 0 | 0 | 11851 |
| Brown Advisory Small-Cap Fundamental Value Fund Investor Shs | COM | 115233793 |  | 851978 | 31438 | SH |  | SOLE |  | 0 | 0 | 31438 |
| BWX Technologies Inc. | COM | 05605H100 |  | 3579673 | 24848 | SH |  | SOLE |  | 0 | 0 | 24848 |
| C.H. Robinson Worldwide Inc. | COM | 12541W209 |  | 1739765 | 18132 | SH |  | SOLE |  | 0 | 0 | 18132 |
| Cadre Holdings Inc. | COM | 12763L105 |  | 304072 | 9547 | SH |  | SOLE |  | 0 | 0 | 9547 |
| Cal-Maine Foods Inc. | COM | 128030202 |  | 2490636 | 24999 | SH |  | SOLE |  | 0 | 0 | 24999 |
| Carpenter Technology Corporation | COM | 144285103 |  | 14189773 | 51342 | SH |  | SOLE |  | 0 | 0 | 51342 |
| Carriage Services Inc. | COM | 143905107 |  | 654585 | 14311 | SH |  | SOLE |  | 0 | 0 | 14311 |
| Carrier Global Corp. | COM | 14448C104 |  | 227621 | 3110 | SH |  | SOLE |  | 0 | 0 | 3110 |
| Carvana Co. Class A | COM | 146869102 |  | 4633537 | 13751 | SH |  | SOLE |  | 0 | 0 | 13751 |
| Casey's General Stores Inc. | COM | 147528103 |  | 376579 | 738 | SH |  | SOLE |  | 0 | 0 | 738 |
| Catalyst Pharmaceuticals Inc. | COM | 14888U101 |  | 271771 | 12524 | SH |  | SOLE |  | 0 | 0 | 12524 |
| CAVA Group Inc. | COM | 148929102 |  | 789993 | 9379 | SH |  | SOLE |  | 0 | 0 | 9379 |
| Cencora Inc. | COM | 03073E105 |  | 5416752 | 18065 | SH |  | SOLE |  | 0 | 0 | 18065 |
| Charles Schwab Corp | COM | 808513105 |  | 702548 | 7700 | SH |  | SOLE |  | 0 | 0 | 7700 |
| Chevron Corporation | COM | 166764100 |  | 1736791 | 12129 | SH |  | SOLE |  | 0 | 0 | 12129 |
| Cinemark Holdings Inc. | COM | 17243V102 |  | 1771536 | 58699 | SH |  | SOLE |  | 0 | 0 | 58699 |
| Cipher Mining Inc | COM | 17253J106 |  | 160006 | 33474 | SH |  | SOLE |  | 0 | 0 | 33474 |
| Cisco Systems Inc. | COM | 17275R102 |  | 4292662 | 61872 | SH |  | SOLE |  | 0 | 0 | 61872 |
| Citigroup Inc. | COM | 172967424 |  | 1012758 | 11898 | SH |  | SOLE |  | 0 | 0 | 11898 |
| Clear Secure Inc. Class A | COM | 18467V109 |  | 1147352 | 41331 | SH |  | SOLE |  | 0 | 0 | 41331 |
| ClearPoint Neuro Inc. | COM | 18507C103 |  | 597000 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| Climb Global Solutions Inc. | COM | 946760105 |  | 710434 | 6645 | SH |  | SOLE |  | 0 | 0 | 6645 |
| Clorox Company | COM | 189054109 |  | 554123 | 4615 | SH |  | SOLE |  | 0 | 0 | 4615 |
| CME Group Inc. Class A | COM | 12572Q105 |  | 2967601 | 10767 | SH |  | SOLE |  | 0 | 0 | 10767 |
| Coca-Cola Company | COM | 191216100 |  | 1450124 | 20496 | SH |  | SOLE |  | 0 | 0 | 20496 |
| Coca-Cola Consolidated Inc. | COM | 191098102 |  | 4206086 | 37672 | SH |  | SOLE |  | 0 | 0 | 37672 |
| Coeur Mining Inc. | COM | 192108504 |  | 368115 | 41548 | SH |  | SOLE |  | 0 | 0 | 41548 |
| Colgate-Palmolive Company | COM | 194162103 |  | 2647644 | 29127 | SH |  | SOLE |  | 0 | 0 | 29127 |
| Comfort Systems USA Inc. | COM | 199908104 |  | 9827204 | 18327 | SH |  | SOLE |  | 0 | 0 | 18327 |
| Compania de Minas Buenaventura SAA Sponsored ADR | COM | 204448104 |  | 1454516 | 88582 | SH |  | SOLE |  | 0 | 0 | 88582 |
| Compass Diversified Holdings | COM | 20451Q104 |  | 414449 | 65995 | SH |  | SOLE |  | 0 | 0 | 65995 |
| Consolidated Edison Inc. | COM | 209115104 |  | 365888 | 3646 | SH |  | SOLE |  | 0 | 0 | 3646 |
| Copart Inc. | COM | 217204106 |  | 538543 | 10975 | SH |  | SOLE |  | 0 | 0 | 10975 |
| CoreCard Corporation | COM | 45816D100 |  | 1030637 | 35576 | SH |  | SOLE |  | 0 | 0 | 35576 |
| Costco Wholesale Corporation | COM | 22160K105 |  | 19347719 | 19544 | SH |  | SOLE |  | 0 | 0 | 19544 |
| CSP Inc. | COM | 126389105 |  | 476826 | 36849 | SH |  | SOLE |  | 0 | 0 | 36849 |
| D-Wave Quantum Inc. | COM | 26740W109 |  | 456373 | 31173 | SH |  | SOLE |  | 0 | 0 | 31173 |
| Darden Restaurants Inc. | COM | 237194105 |  | 703607 | 3228 | SH |  | SOLE |  | 0 | 0 | 3228 |
| Delta Air Lines Inc. | COM | 247361702 |  | 217867 | 4430 | SH |  | SOLE |  | 0 | 0 | 4430 |
| Dick's Sporting Goods Inc. | COM | 253393102 |  | 219371 | 1109 | SH |  | SOLE |  | 0 | 0 | 1109 |
| DocuSign Inc. | COM | 256163106 |  | 455890 | 5853 | SH |  | SOLE |  | 0 | 0 | 5853 |
| Donegal Group Inc. Class A | COM | 257701201 |  | 401782 | 20064 | SH |  | SOLE |  | 0 | 0 | 20064 |
| Doximity Inc. Class A | COM | 26622P107 |  | 4137015 | 67444 | SH |  | SOLE |  | 0 | 0 | 67444 |
| DuPont de Nemours Inc. | COM | 26614N102 |  | 225112 | 3282 | SH |  | SOLE |  | 0 | 0 | 3282 |
| Dynex Capital Inc. | COM | 26817Q886 |  | 1668323 | 136524 | SH |  | SOLE |  | 0 | 0 | 136524 |
| Eaton Corp. Plc | COM | G29183103 |  | 358775 | 1005 | SH |  | SOLE |  | 0 | 0 | 1005 |
| eBay Inc. | COM | 278642103 |  | 2973188 | 39930 | SH |  | SOLE |  | 0 | 0 | 39930 |
| Elbit Systems Ltd | COM | M3760D101 |  | 6137922 | 13655 | SH |  | SOLE |  | 0 | 0 | 13655 |
| Eldorado Gold Corporation | COM | 284902509 |  | 1272999 | 62586 | SH |  | SOLE |  | 0 | 0 | 62586 |
| Electromed Inc. | COM | 285409108 |  | 1007450 | 45814 | SH |  | SOLE |  | 0 | 0 | 45814 |
| Eli Lilly and Company | COM | 532457108 |  | 18818833 | 24141 | SH |  | SOLE |  | 0 | 0 | 24141 |
| Embraer S.A. Sponsored ADR | COM | 29082A107 |  | 5684455 | 99885 | SH |  | SOLE |  | 0 | 0 | 99885 |
| EMCOR Group Inc. | COM | 29084Q100 |  | 17448787 | 32621 | SH |  | SOLE |  | 0 | 0 | 32621 |
| Energy Services of America Corporation | COM | 29271Q103 |  | 329828 | 33182 | SH |  | SOLE |  | 0 | 0 | 33182 |
| Energy Transfer LP | COM | 29273V100 |  | 344470 | 19000 | SH |  | SOLE |  | 0 | 0 | 19000 |
| Enterprise Products Partners L.P. | COM | 293792107 |  | 305977 | 9867 | SH |  | SOLE |  | 0 | 0 | 9867 |
| Epsilon Energy Ltd. | COM | 294375209 |  | 362506 | 49120 | SH |  | SOLE |  | 0 | 0 | 49120 |
| Eversource Energy | COM | 30040W108 |  | 721642 | 11343 | SH |  | SOLE |  | 0 | 0 | 11343 |
| Excelerate Energy Inc. Class A | COM | 30069T101 |  | 450531 | 15366 | SH |  | SOLE |  | 0 | 0 | 15366 |
| Exelixis Inc. | COM | 30161Q104 |  | 8443052 | 191561 | SH |  | SOLE |  | 0 | 0 | 191561 |
| ExlService Holdings Inc. | COM | 302081104 |  | 4598870 | 105021 | SH |  | SOLE |  | 0 | 0 | 105021 |
| Extra Space Storage Inc. | COM | 30225T102 |  | 459207 | 3115 | SH |  | SOLE |  | 0 | 0 | 3115 |
| Exxon Mobil Corporation | COM | 30231G102 |  | 1805866 | 16752 | SH |  | SOLE |  | 0 | 0 | 16752 |
| Ferrari NV | COM | N3167Y103 |  | 5484510 | 11176 | SH |  | SOLE |  | 0 | 0 | 11176 |
| Fidelity MSCI Information Technology Index ETF | COM | 316092808 |  | 2563860 | 13000 | SH |  | SOLE |  | 0 | 0 | 13000 |
| Fidelity National Information Services Inc. | COM | 31620M106 |  | 392644 | 4823 | SH |  | SOLE |  | 0 | 0 | 4823 |
| Fidelity Wise Origin Bitcoin Fund | COM | 315948109 |  | 301990 | 3213 | SH |  | SOLE |  | 0 | 0 | 3213 |
| First Bancorp | COM | 318672706 |  | 513251 | 24640 | SH |  | SOLE |  | 0 | 0 | 24640 |
| Flotek Industries Inc. | COM | 343389409 |  | 614916 | 41661 | SH |  | SOLE |  | 0 | 0 | 41661 |
| Flowserve Corporation | COM | 34354P105 |  | 1800578 | 34395 | SH |  | SOLE |  | 0 | 0 | 34395 |
| Fortinet Inc. | COM | 34959E109 |  | 288087 | 2725 | SH |  | SOLE |  | 0 | 0 | 2725 |
| FTAI Aviation Ltd. | COM | G3730V105 |  | 385959 | 3355 | SH |  | SOLE |  | 0 | 0 | 3355 |
| Garmin Ltd. | COM | H2906T109 |  | 1601419 | 7673 | SH |  | SOLE |  | 0 | 0 | 7673 |
| General Dynamics Corporation | COM | 369550108 |  | 3037639 | 10415 | SH |  | SOLE |  | 0 | 0 | 10415 |
| Genuine Parts Company | COM | 372460105 |  | 467407 | 3853 | SH |  | SOLE |  | 0 | 0 | 3853 |
| Genworth Financial Inc. | COM | 37247D106 |  | 197176 | 25344 | SH |  | SOLE |  | 0 | 0 | 25344 |
| Getty Realty Corp. | COM | 374297109 |  | 314495 | 11378 | SH |  | SOLE |  | 0 | 0 | 11378 |
| Golub Capital BDC Inc. | COM | 38173M102 |  | 264140 | 18030 | SH |  | SOLE |  | 0 | 0 | 18030 |
| Graham Corporation | COM | 384556106 |  | 402170 | 8123 | SH |  | SOLE |  | 0 | 0 | 8123 |
| Guidewire Software Inc. | COM | 40171V100 |  | 8177414 | 34731 | SH |  | SOLE |  | 0 | 0 | 34731 |
| Hamilton Beach Brands Holding Co. Class A | COM | 40701T104 |  | 266543 | 14899 | SH |  | SOLE |  | 0 | 0 | 14899 |
| HCI Group Inc. | COM | 40416E103 |  | 1607845 | 10564 | SH |  | SOLE |  | 0 | 0 | 10564 |
| HEICO Corporation | COM | 422806109 |  | 763584 | 2328 | SH |  | SOLE |  | 0 | 0 | 2328 |
| Hennessy Advisors Inc. | COM | 425885100 |  | 538751 | 42758 | SH |  | SOLE |  | 0 | 0 | 42758 |
| Heritage Insurance Holdings Inc. | COM | 42727J102 |  | 725879 | 29105 | SH |  | SOLE |  | 0 | 0 | 29105 |
| Hershey Company | COM | 427866108 |  | 366366 | 2208 | SH |  | SOLE |  | 0 | 0 | 2208 |
| Hesai Group Sponsored ADR | COM | 428050108 |  | 1413800 | 64410 | SH |  | SOLE |  | 0 | 0 | 64410 |
| Hess Midstream LP Class A | COM | 428103105 |  | 424380 | 11020 | SH |  | SOLE |  | 0 | 0 | 11020 |
| Hims  Hers Health Inc. Class A | COM | 433000106 |  | 4120800 | 82664 | SH |  | SOLE |  | 0 | 0 | 82664 |
| Home Depot Inc. | COM | 437076102 |  | 918648 | 2506 | SH |  | SOLE |  | 0 | 0 | 2506 |
| Honeywell International Inc. | COM | 438516106 |  | 265483 | 1140 | SH |  | SOLE |  | 0 | 0 | 1140 |
| Howmet Aerospace Inc. | COM | 443201108 |  | 13276635 | 71330 | SH |  | SOLE |  | 0 | 0 | 71330 |
| Huntington Bancshares Incorporated | COM | 446150104 |  | 411290 | 24540 | SH |  | SOLE |  | 0 | 0 | 24540 |
| IBEX Ltd | COM | G4690M101 |  | 413249 | 14201 | SH |  | SOLE |  | 0 | 0 | 14201 |
| Idaho Strategic Resources Inc | COM | 645827205 |  | 1329634 | 101654 | SH |  | SOLE |  | 0 | 0 | 101654 |
| IES Holdings Inc. | COM | 44951W106 |  | 868250 | 2931 | SH |  | SOLE |  | 0 | 0 | 2931 |
| Ingredion Incorporated | COM | 457187102 |  | 3659570 | 26984 | SH |  | SOLE |  | 0 | 0 | 26984 |
| Intel Corporation | COM | 458140100 |  | 268800 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| Interactive Brokers Group Inc. Class A | COM | 45841N107 |  | 688081 | 12418 | SH |  | SOLE |  | 0 | 0 | 12418 |
| Intercontinental Exchange Inc. | COM | 45866F104 |  | 666913 | 3635 | SH |  | SOLE |  | 0 | 0 | 3635 |
| International Business Machines Corporation | COM | 459200101 |  | 1414944 | 4800 | SH |  | SOLE |  | 0 | 0 | 4800 |
| International General Insurance Holdings Ltd. | COM | G4809J106 |  | 841373 | 35028 | SH |  | SOLE |  | 0 | 0 | 35028 |
| IonQ Inc. | COM | 46222L108 |  | 850247 | 19787 | SH |  | SOLE |  | 0 | 0 | 19787 |
| iShares 1-3 Year Treasury Bond ETF | COM | 464287457 |  | 5728112 | 69130 | SH |  | SOLE |  | 0 | 0 | 69130 |
| iShares 20plus Year Treasury Bond ETF | COM | 464287432 |  | 5775345 | 65443 | SH |  | SOLE |  | 0 | 0 | 65443 |
| iShares 7-10 Year Treasury Bond ETF | COM | 464287440 |  | 5597373 | 58446 | SH |  | SOLE |  | 0 | 0 | 58446 |
| iShares Core S 500 ETF | COM | 464287200 |  | 918932 | 1480 | SH |  | SOLE |  | 0 | 0 | 1480 |
| iShares MSCI EAFE Growth ETF | COM | 464288885 |  | 2982896 | 26633 | SH |  | SOLE |  | 0 | 0 | 26633 |
| iShares MSCI EAFE Value ETF | COM | 464288877 |  | 2115979 | 33333 | SH |  | SOLE |  | 0 | 0 | 33333 |
| iShares MSCI Japan ETF | COM | 46434G822 |  | 468562 | 6250 | SH |  | SOLE |  | 0 | 0 | 6250 |
| Itron Inc. | COM | 465741106 |  | 1003547 | 7624 | SH |  | SOLE |  | 0 | 0 | 7624 |
| Jabil Inc. | COM | 466313103 |  | 344598 | 1580 | SH |  | SOLE |  | 0 | 0 | 1580 |
| Johnson  Johnson | COM | 478160104 |  | 2197156 | 14384 | SH |  | SOLE |  | 0 | 0 | 14384 |
| JPMorgan Chase  Co. | COM | 46625H100 |  | 2475831 | 8540 | SH |  | SOLE |  | 0 | 0 | 8540 |
| Kinder Morgan Inc Class P | COM | 49456B101 |  | 339958 | 11563 | SH |  | SOLE |  | 0 | 0 | 11563 |
| Kinross Gold Corporation | COM | 496902404 |  | 7441146 | 476081 | SH |  | SOLE |  | 0 | 0 | 476081 |
| KLA Corporation | COM | 482480100 |  | 2040496 | 2278 | SH |  | SOLE |  | 0 | 0 | 2278 |
| Kroger Co. | COM | 501044101 |  | 3896947 | 54328 | SH |  | SOLE |  | 0 | 0 | 54328 |
| Lam Research Corporation | COM | 512807306 |  | 219015 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| Lamar Advertising Company Class A | COM | 512816109 |  | 643911 | 5306 | SH |  | SOLE |  | 0 | 0 | 5306 |
| Limbach Holdings Inc. | COM | 53263P105 |  | 1330810 | 9499 | SH |  | SOLE |  | 0 | 0 | 9499 |
| Lowe's Companies Inc. | COM | 548661107 |  | 886593 | 3996 | SH |  | SOLE |  | 0 | 0 | 3996 |
| MakeMyTrip Ltd. | COM | V5633W109 |  | 1357773 | 13852 | SH |  | SOLE |  | 0 | 0 | 13852 |
| MasTec Inc. | COM | 576323109 |  | 331486 | 1945 | SH |  | SOLE |  | 0 | 0 | 1945 |
| Mastercard Incorporated Class A | COM | 57636Q104 |  | 971032 | 1728 | SH |  | SOLE |  | 0 | 0 | 1728 |
| Matson Inc. | COM | 57686G105 |  | 216910 | 1948 | SH |  | SOLE |  | 0 | 0 | 1948 |
| McDonald's Corporation | COM | 580135101 |  | 1473998 | 5045 | SH |  | SOLE |  | 0 | 0 | 5045 |
| McGrath RentCorp | COM | 580589109 |  | 236906 | 2043 | SH |  | SOLE |  | 0 | 0 | 2043 |
| Merck  Co. Inc. | COM | 58933Y105 |  | 645075 | 8149 | SH |  | SOLE |  | 0 | 0 | 8149 |
| Meta Platforms Inc Class A | COM | 30303M102 |  | 7930473 | 10745 | SH |  | SOLE |  | 0 | 0 | 10745 |
| Microsoft Corporation | COM | 594918104 |  | 9020322 | 18135 | SH |  | SOLE |  | 0 | 0 | 18135 |
| MicroStrategy Incorporated Class A | COM | 594972408 |  | 2477121 | 6128 | SH |  | SOLE |  | 0 | 0 | 6128 |
| Monolithic Power Systems Inc. | COM | 609839105 |  | 413230 | 565 | SH |  | SOLE |  | 0 | 0 | 565 |
| MPLX LP | COM | 55336V100 |  | 455683 | 8847 | SH |  | SOLE |  | 0 | 0 | 8846 |
| MSCI Inc. Class A | COM | 55354G100 |  | 806859 | 1399 | SH |  | SOLE |  | 0 | 0 | 1399 |
| Mueller Industries Inc. | COM | 624756102 |  | 962938 | 12117 | SH |  | SOLE |  | 0 | 0 | 12117 |
| Nasdaq Inc. | COM | 631103108 |  | 376113 | 4206 | SH |  | SOLE |  | 0 | 0 | 4206 |
| National Fuel Gas Company | COM | 636180101 |  | 944517 | 11150 | SH |  | SOLE |  | 0 | 0 | 11150 |
| National Storage Affiliates Trust | COM | 637870106 |  | 388551 | 12146 | SH |  | SOLE |  | 0 | 0 | 12146 |
| Natural Grocers by Vitamin Cottage Inc. | COM | 63888U108 |  | 436342 | 11117 | SH |  | SOLE |  | 0 | 0 | 11117 |
| Nestle S.A. Sponsored ADR | COM | 641069406 |  | 575361 | 5793 | SH |  | SOLE |  | 0 | 0 | 5793 |
| NetApp Inc. | COM | 64110D104 |  | 4417584 | 41460 | SH |  | SOLE |  | 0 | 0 | 41460 |
| Netflix Inc. | COM | 64110L106 |  | 381652 | 285 | SH |  | SOLE |  | 0 | 0 | 285 |
| NextEra Energy Inc. | COM | 65339F101 |  | 1541749 | 22209 | SH |  | SOLE |  | 0 | 0 | 22209 |
| Nexxen International Ltd. | COM | M8T80P204 |  | 1103002 | 105956 | SH |  | SOLE |  | 0 | 0 | 105956 |
| Niagen Bioscience Inc. | COM | 171077407 |  | 2191372 | 152073 | SH |  | SOLE |  | 0 | 0 | 152073 |
| Norfolk Southern Corporation | COM | 655844108 |  | 947089 | 3700 | SH |  | SOLE |  | 0 | 0 | 3700 |
| Northern Technologies International Corporation | COM | 665809109 |  | 185250 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| Northern Trust Corporation | COM | 665859104 |  | 470011 | 3707 | SH |  | SOLE |  | 0 | 0 | 3707 |
| Northrop Grumman Corp. | COM | 666807102 |  | 381134 | 762 | SH |  | SOLE |  | 0 | 0 | 762 |
| Nova Ltd. | COM | M7516K103 |  | 392160 | 1425 | SH |  | SOLE |  | 0 | 0 | 1425 |
| NRG Energy Inc. | COM | 629377508 |  | 3515739 | 21894 | SH |  | SOLE |  | 0 | 0 | 21894 |
| Nutanix Inc. Class A | COM | 67059N108 |  | 6114359 | 79989 | SH |  | SOLE |  | 0 | 0 | 79989 |
| NVIDIA Corporation | COM | 67066G104 |  | 89429502 | 566045 | SH |  | SOLE |  | 0 | 0 | 566045 |
| OGE Energy Corp. | COM | 670837103 |  | 833587 | 18783 | SH |  | SOLE |  | 0 | 0 | 18783 |
| Old Dominion Freight Line Inc. | COM | 679580100 |  | 407698 | 2512 | SH |  | SOLE |  | 0 | 0 | 2512 |
| Old Republic International Corporation | COM | 680223104 |  | 656679 | 17083 | SH |  | SOLE |  | 0 | 0 | 17083 |
| ONEOK Inc. | COM | 682680103 |  | 613909 | 7521 | SH |  | SOLE |  | 0 | 0 | 7521 |
| Oracle Corporation | COM | 68389X105 |  | 1010071 | 4620 | SH |  | SOLE |  | 0 | 0 | 4620 |
| Palantir Technologies Inc. Class A | COM | 69608A108 |  | 11351775 | 83273 | SH |  | SOLE |  | 0 | 0 | 83273 |
| Palo Alto Networks Inc. | COM | 697435105 |  | 760442 | 3716 | SH |  | SOLE |  | 0 | 0 | 3716 |
| Palomar Holdings Inc. | COM | 69753M105 |  | 725900 | 4706 | SH |  | SOLE |  | 0 | 0 | 4706 |
| Parker-Hannifin Corporation | COM | 701094104 |  | 2895158 | 4145 | SH |  | SOLE |  | 0 | 0 | 4145 |
| Paymentus Holdings Inc Class A | COM | 70439P108 |  | 2491587 | 76079 | SH |  | SOLE |  | 0 | 0 | 76079 |
| Pennant Group Inc | COM | 70805E109 |  | 612134 | 20507 | SH |  | SOLE |  | 0 | 0 | 20507 |
| PennyMac Financial Services Inc. | COM | 70932M107 |  | 249100 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| PepsiCo Inc. | COM | 713448108 |  | 3597401 | 27245 | SH |  | SOLE |  | 0 | 0 | 27245 |
| Perimeter Solutions Inc | COM | 71385M107 |  | 1365789 | 98117 | SH |  | SOLE |  | 0 | 0 | 98117 |
| Permian Resources Corporation Class A | COM | 71424F105 |  | 543016 | 39869 | SH |  | SOLE |  | 0 | 0 | 39869 |
| Phibro Animal Health Corporation Class A | COM | 71742Q106 |  | 1117905 | 43771 | SH |  | SOLE |  | 0 | 0 | 43771 |
| Philip Morris International Inc. | COM | 718172109 |  | 744912 | 4090 | SH |  | SOLE |  | 0 | 0 | 4090 |
| Phillips 66 | COM | 718546104 |  | 5405872 | 45313 | SH |  | SOLE |  | 0 | 0 | 45313 |
| Pilgrim's Pride Corporation | COM | 72147K108 |  | 3072629 | 68311 | SH |  | SOLE |  | 0 | 0 | 68311 |
| Plains GP Holdings LP Class A | COM | 72651A207 |  | 262305 | 13500 | SH |  | SOLE |  | 0 | 0 | 13500 |
| Porsche Automobil Holding SE Unsponsored ADR | COM | 73328P106 |  | 214974 | 54355 | SH |  | SOLE |  | 0 | 0 | 54355 |
| Powell Industries Inc. | COM | 739128106 |  | 741673 | 3524 | SH |  | SOLE |  | 0 | 0 | 3524 |
| Power Solutions International Inc. | COM | 73933G202 |  | 2820242 | 43603 | SH |  | SOLE |  | 0 | 0 | 43603 |
| PPG Industries Inc. | COM | 693506107 |  | 204750 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| PrimeEnergy Resources Corporation | COM | 74158E104 |  | 310911 | 2124 | SH |  | SOLE |  | 0 | 0 | 2124 |
| Pro-Dex Inc. | COM | 74265M205 |  | 980198 | 22461 | SH |  | SOLE |  | 0 | 0 | 22461 |
| Procter  Gamble Company | COM | 742718109 |  | 2966379 | 18619 | SH |  | SOLE |  | 0 | 0 | 18619 |
| Progressive Corporation | COM | 743315103 |  | 14396881 | 53949 | SH |  | SOLE |  | 0 | 0 | 53949 |
| Quanta Services Inc. | COM | 74762E102 |  | 20044768 | 53017 | SH |  | SOLE |  | 0 | 0 | 53017 |
| RadNet Inc. | COM | 750491102 |  | 521580 | 9165 | SH |  | SOLE |  | 0 | 0 | 9165 |
| REV Group Inc. | COM | 749527107 |  | 899165 | 18894 | SH |  | SOLE |  | 0 | 0 | 18894 |
| Robinhood Markets Inc. Class A | COM | 770700102 |  | 4755842 | 50794 | SH |  | SOLE |  | 0 | 0 | 50794 |
| Rocket Lab Corporation | COM | 773121108 |  | 684674 | 19141 | SH |  | SOLE |  | 0 | 0 | 19141 |
| Royal Caribbean Group | COM | V7780T103 |  | 18438499 | 58883 | SH |  | SOLE |  | 0 | 0 | 58883 |
| Royal Gold Inc. | COM | 780287108 |  | 402808 | 2265 | SH |  | SOLE |  | 0 | 0 | 2265 |
| RTX Corporation | COM | 75513E101 |  | 566586 | 3880 | SH |  | SOLE |  | 0 | 0 | 3880 |
| S Global Inc. | COM | 78409V104 |  | 751916 | 1426 | SH |  | SOLE |  | 0 | 0 | 1426 |
| Salesforce Inc. | COM | 79466L302 |  | 1317093 | 4830 | SH |  | SOLE |  | 0 | 0 | 4830 |
| Sanmina Corporation | COM | 801056102 |  | 387211 | 3958 | SH |  | SOLE |  | 0 | 0 | 3958 |
| SAP SE Sponsored ADR | COM | 803054204 |  | 3448494 | 11340 | SH |  | SOLE |  | 0 | 0 | 11340 |
| Sea Limited Sponsored ADR Class A | COM | 81141R100 |  | 3342586 | 20899 | SH |  | SOLE |  | 0 | 0 | 20899 |
| ServiceNow Inc. | COM | 81762P102 |  | 308424 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| Sezzle Inc. | COM | 78435P105 |  | 8101383 | 45196 | SH |  | SOLE |  | 0 | 0 | 45196 |
| Siebert Financial Corp. | COM | 826176109 |  | 328282 | 74272 | SH |  | SOLE |  | 0 | 0 | 74272 |
| Sinovac Biotech Ltd. | COM | P8696W104 |  | 0 | 13159 | SH |  | SOLE |  | 0 | 0 | 13159 |
| Skyward Specialty Insurance Group Inc. | COM | 830940102 |  | 1800158 | 31150 | SH |  | SOLE |  | 0 | 0 | 31150 |
| SkyWest Inc | COM | 830879102 |  | 5949298 | 57777 | SH |  | SOLE |  | 0 | 0 | 57777 |
| SPDR Gold Shares | COM | 78463V107 |  | 609660 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| SPDR S 500 ETF Trust | COM | 78462F103 |  | 1789845 | 2897 | SH |  | SOLE |  | 0 | 0 | 2897 |
| Sportradar Group AG Class A | COM | H8088L103 |  | 1649138 | 58730 | SH |  | SOLE |  | 0 | 0 | 58730 |
| Sprouts Farmers Market Inc. | COM | 85208M102 |  | 9777805 | 59389 | SH |  | SOLE |  | 0 | 0 | 59389 |
| SS Technologies Holdings Inc. | COM | 78467J100 |  | 2481019 | 29964 | SH |  | SOLE |  | 0 | 0 | 29964 |
| Steel Dynamics Inc. | COM | 858119100 |  | 886341 | 6924 | SH |  | SOLE |  | 0 | 0 | 6924 |
| Stewart Information Services Corporation | COM | 860372101 |  | 857437 | 13171 | SH |  | SOLE |  | 0 | 0 | 13171 |
| StoneX Group Inc. | COM | 861896108 |  | 816979 | 8964 | SH |  | SOLE |  | 0 | 0 | 8964 |
| SunCoke Energy Inc. | COM | 86722A103 |  | 89808 | 10455 | SH |  | SOLE |  | 0 | 0 | 10455 |
| Super Micro Computer Inc. | COM | 86800U302 |  | 14628995 | 298490 | SH |  | SOLE |  | 0 | 0 | 298490 |
| Synovus Financial Corp. | COM | 87161C501 |  | 211658 | 4090 | SH |  | SOLE |  | 0 | 0 | 4090 |
| T-Mobile US Inc. | COM | 872590104 |  | 4502869 | 18899 | SH |  | SOLE |  | 0 | 0 | 18899 |
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | COM | 874039100 |  | 291032 | 1285 | SH |  | SOLE |  | 0 | 0 | 1285 |
| Talen Energy Corp | COM | 87422Q109 |  | 945293 | 3251 | SH |  | SOLE |  | 0 | 0 | 3251 |
| Targa Resources Corp. | COM | 87612G101 |  | 11189256 | 64277 | SH |  | SOLE |  | 0 | 0 | 64277 |
| TD SYNNEX Corporation | COM | 87162W100 |  | 207350 | 1528 | SH |  | SOLE |  | 0 | 0 | 1528 |
| TechnipFMC plc | COM | G87110105 |  | 2995247 | 86970 | SH |  | SOLE |  | 0 | 0 | 86970 |
| Texas Instruments Incorporated | COM | 882508104 |  | 398060 | 1917 | SH |  | SOLE |  | 0 | 0 | 1917 |
| TPG Inc Class A | COM | 872657101 |  | 396470 | 7559 | SH |  | SOLE |  | 0 | 0 | 7559 |
| Trane Technologies plc | COM | G8994E103 |  | 5220488 | 11935 | SH |  | SOLE |  | 0 | 0 | 11935 |
| TransDigm Group Incorporated | COM | 893641100 |  | 2055905 | 1352 | SH |  | SOLE |  | 0 | 0 | 1352 |
| Tyler Technologies Inc. | COM | 902252105 |  | 1852625 | 3125 | SH |  | SOLE |  | 0 | 0 | 3125 |
| UFP Technologies Inc. | COM | 902673102 |  | 719540 | 2947 | SH |  | SOLE |  | 0 | 0 | 2947 |
| Unilever PLC Sponsored ADR | COM | 904767704 |  | 702966 | 11492 | SH |  | SOLE |  | 0 | 0 | 11492 |
| Union Pacific Corporation | COM | 907818108 |  | 1260838 | 5480 | SH |  | SOLE |  | 0 | 0 | 5480 |
| United Airlines Holdings Inc. | COM | 910047109 |  | 4577371 | 57483 | SH |  | SOLE |  | 0 | 0 | 57483 |
| United States Lime  Minerals Inc. | COM | 911922102 |  | 463471 | 4644 | SH |  | SOLE |  | 0 | 0 | 4644 |
| UnitedHealth Group Incorporated | COM | 91324P102 |  | 499868 | 1602 | SH |  | SOLE |  | 0 | 0 | 1602 |
| Universal Corp | COM | 913456109 |  | 3893973 | 66861 | SH |  | SOLE |  | 0 | 0 | 66861 |
| Universal Technical Institute Inc. | COM | 913915104 |  | 3737525 | 110284 | SH |  | SOLE |  | 0 | 0 | 110284 |
| Uranium Energy Corp. | COM | 916896103 |  | 435669 | 64069 | SH |  | SOLE |  | 0 | 0 | 64069 |
| Valero Energy Corporation | COM | 91913Y100 |  | 2418081 | 17989 | SH |  | SOLE |  | 0 | 0 | 17989 |
| Vanguard Dividend Appreciation ETF | COM | 921908844 |  | 359920 | 1759 | SH |  | SOLE |  | 0 | 0 | 1759 |
| Veeva Systems Inc Class A | COM | 922475108 |  | 259758 | 902 | SH |  | SOLE |  | 0 | 0 | 902 |
| Verizon Communications Inc. | COM | 92343V104 |  | 1018168 | 23531 | SH |  | SOLE |  | 0 | 0 | 23531 |
| Vertiv Holdings Co. Class A | COM | 92537N108 |  | 9072368 | 70652 | SH |  | SOLE |  | 0 | 0 | 70652 |
| Viper Energy Inc. | COM | 927959106 |  | 3011050 | 78968 | SH |  | SOLE |  | 0 | 0 | 78968 |
| Virtu Financial Inc. Class A | COM | 928254101 |  | 1797288 | 40127 | SH |  | SOLE |  | 0 | 0 | 40127 |
| Visa Inc. Class A | COM | 92826C839 |  | 891616 | 2511 | SH |  | SOLE |  | 0 | 0 | 2511 |
| Vital Farms Inc. | COM | 92847W103 |  | 603108 | 15657 | SH |  | SOLE |  | 0 | 0 | 15657 |
| VNET Group Inc. Sponsored ADR | COM | 90138A103 |  | 653616 | 94727 | SH |  | SOLE |  | 0 | 0 | 94727 |
| Walmart Inc. | COM | 931142103 |  | 9711280 | 99318 | SH |  | SOLE |  | 0 | 0 | 99318 |
| Walt Disney Company | COM | 254687106 |  | 475330 | 3833 | SH |  | SOLE |  | 0 | 0 | 3833 |
| Wasatch Core Growth Fund | COM | 936772201 |  | 828841 | 9674 | SH |  | SOLE |  | 0 | 0 | 9674 |
| Waste Connections Inc. | COM | 94106B101 |  | 776008 | 4156 | SH |  | SOLE |  | 0 | 0 | 4156 |
| Waste Management Inc. | COM | 94106L109 |  | 234768 | 1026 | SH |  | SOLE |  | 0 | 0 | 1026 |
| Western Midstream Partners LP | COM | 958669103 |  | 400932 | 10360 | SH |  | SOLE |  | 0 | 0 | 10360 |
| Willdan Group Inc. | COM | 96924N100 |  | 498142 | 7969 | SH |  | SOLE |  | 0 | 0 | 7969 |
| Willis Lease Finance Corporation | COM | 970646105 |  | 583114 | 4084 | SH |  | SOLE |  | 0 | 0 | 4084 |
| Wintrust Financial Corporation | COM | 97650W108 |  | 439757 | 3547 | SH |  | SOLE |  | 0 | 0 | 3547 |
| WisdomTree Inc. | COM | 97717P104 |  | 161808 | 14058 | SH |  | SOLE |  | 0 | 0 | 14058 |
| Woodward Inc. | COM | 980745103 |  | 2010475 | 8203 | SH |  | SOLE |  | 0 | 0 | 8203 |
| Xcel Energy Inc. | COM | 98389B100 |  | 2602646 | 38218 | SH |  | SOLE |  | 0 | 0 | 38218 |
| Xylem Inc. | COM | 98419M100 |  | 215864 | 1669 | SH |  | SOLE |  | 0 | 0 | 1669 |
| Yum! Brands Inc. | COM | 988498101 |  | 602455 | 4066 | SH |  | SOLE |  | 0 | 0 | 4066 |
| ZIM Integrated Shipping Services Ltd. | COM | M9T951109 |  | 845159 | 52527 | SH |  | SOLE |  | 0 | 0 | 52527 |

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