# EDGAR Filing Document

**Accession Number:** 0001016972
**File Stem:** 0001016972-25-000005
**Filing Date:** 2025-8
**Character Count:** 27743
**Document Hash:** 43809083a8c0198161011812a7728985
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001016972-25-000005.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0001016972-25-000005

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**EFFECTIVENESS DATE**: 20250808

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARCADIA INVESTMENT MANAGEMENT CORP/MI
- **CENTRAL INDEX KEY:** 0001016972

**ORGANIZATION NAME:**
- **EIN:** 382727734
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05696
- **FILM NUMBER:** 251197462

**BUSINESS ADDRESS:**
- **STREET 1:** 161 EAST MICHIGAN AVENUE
- **STREET 2:** SUITE 500 SOUTH
- **CITY:** KALAMAZOO
- **STATE:** MI
- **ZIP:** 49007
- **BUSINESS PHONE:** 2693490800

**MAIL ADDRESS:**
- **STREET 1:** 161 EAST MICHIGAN AVENUE
- **STREET 2:** SUITE 500 SOUTH
- **CITY:** KALAMAZOO
- **STATE:** MI
- **ZIP:** 49007

### 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:** ARCADIA INVESTMENT MANAGEMENT CORP/MI<br>**Address:** 161 EAST MICHIGAN AVENUE<br>SUITE 500 SOUTH<br>KALAMAZOO, MI 49007

**Form 13F File Number:** 028-05696

**CRD Number (if applicable):** 000104867

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:** Dorsey M Martin<br>**Title:** Chief Compliance Officer<br>**Phone:** 2698068298

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

Dorsey Martin  Kalamazoo, MI  08-08-2025<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:** 254

**Form 13F Information Table Value Total:** $625258239

      (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 |
| AAON INC | COM PAR $0.004 | 000360206 |  | 2052094 | 27825 | SH |  | SOLE |  | 26730 | 0 | 1095 |
| ABBOTT LABS | COM | 002824100 |  | 449903 | 3308 | SH |  | SOLE |  | 3308 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 931813 | 5020 | SH |  | SOLE |  | 4645 | 0 | 375 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 14603168 | 48858 | SH |  | SOLE |  | 40747 | 0 | 8111 |
| ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 |  | 20 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 8816609 | 22789 | SH |  | SOLE |  | 21775 | 0 | 1014 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 167868 | 1183 | SH |  | SOLE |  | 1183 | 0 | 0 |
| AES CORP | COM | 00130H105 |  | 2224507 | 211455 | SH |  | SOLE |  | 202255 | 0 | 9200 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 7580645 | 26876 | SH |  | SOLE |  | 21681 | 0 | 5195 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 16410714 | 93121 | SH |  | SOLE |  | 77861 | 0 | 15260 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 8379195 | 47236 | SH |  | SOLE |  | 38516 | 0 | 8720 |
| AMAZON COM INC | COM | 023135106 |  | 16657625 | 75927 | SH |  | SOLE |  | 67197 | 0 | 8730 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 7557913 | 23694 | SH |  | SOLE |  | 22169 | 0 | 1525 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 104985 | 475 | SH |  | SOLE |  | 475 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 159647 | 1148 | SH |  | SOLE |  | 748 | 0 | 400 |
| AMGEN INC | COM | 031162100 |  | 11169 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 98750 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 22793023 | 111093 | SH |  | SOLE |  | 96198 | 0 | 14895 |
| APPLIED MATLS INC | COM | 038222105 |  | 183070 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 19764 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 |  | 1580 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 8195816 | 10227 | SH |  | SOLE |  | 9378 | 0 | 849 |
| ASTRONICS CORP | COM | 046433108 |  | 282855 | 8451 | SH |  | SOLE |  | 8451 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 14470 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| AURORA CANNABIS INC | COM | 05156X850 |  | 17 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 4111597 | 13332 | SH |  | SOLE |  | 13332 | 0 | 0 |
| AVIENT CORPORATION | COM | 05368V106 |  | 303714 | 9400 | SH |  | SOLE |  | 8800 | 0 | 600 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 4136412 | 24014 | SH |  | SOLE |  | 19714 | 0 | 4300 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 322066 | 663 | SH |  | SOLE |  | 663 | 0 | 0 |
| BIOATLA INC | COM | 09077B104 |  | 556 | 1403 | SH |  | SOLE |  | 1403 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 262313 | 250 | SH |  | SOLE |  | 250 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 199054 | 950 | SH |  | SOLE |  | 950 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 659974 | 114 | SH |  | SOLE |  | 89 | 0 | 25 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 91943 | 856 | SH |  | SOLE |  | 856 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1108137 | 23939 | SH |  | SOLE |  | 20689 | 0 | 3250 |
| BROADCOM INC | COM | 11135F101 |  | 40979508 | 148665 | SH |  | SOLE |  | 130440 | 0 | 18225 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 388848 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| BROOKFIELD INFRAST PARTNERS | LP INT UNIT | G16252101 |  | 62824 | 1875 | SH |  | SOLE |  | 1875 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 87373 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 116605 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| CBRE GROUP INC | CL A | 12504L109 |  | 4945676 | 35296 | SH |  | SOLE |  | 30101 | 0 | 5195 |
| CDW CORP | COM | 12514G108 |  | 178590 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 110620 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 648365 | 4528 | SH |  | SOLE |  | 4528 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 115888 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 378879 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 102128 | 1472 | SH |  | SOLE |  | 1472 | 0 | 0 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 45111 | 2057 | SH |  | SOLE |  | 2057 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 199825 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 1877 | 27 | SH |  | SOLE |  | 27 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 108301 | 1214 | SH |  | SOLE |  | 1214 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 5747 | 161 | SH |  | SOLE |  | 161 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 19685 | 330 | SH |  | SOLE |  | 330 | 0 | 0 |
| COOPER COS INC | COM | 216648501 |  | 9963 | 140 | SH |  | SOLE |  | 140 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 23642887 | 23883 | SH |  | SOLE |  | 18733 | 0 | 5150 |
| CREDO TECHNOLOGY GROUP HOLDI | ORDINARY SHARES | G25457105 |  | 118091 | 1275 | SH |  | SOLE |  | 1275 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 7661042 | 15042 | SH |  | SOLE |  | 14107 | 0 | 935 |
| CSX CORP | COM | 126408103 |  | 16160 | 495 | SH |  | SOLE |  | 495 | 0 | 0 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 280341 | 689 | SH |  | SOLE |  | 689 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 1571629 | 7956 | SH |  | SOLE |  | 7956 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 935 | 19 | SH |  | SOLE |  | 19 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 1786827 | 20470 | SH |  | SOLE |  | 19125 | 0 | 1345 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 54960 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 3106187 | 17818 | SH |  | SOLE |  | 16493 | 0 | 1325 |
| DUTCH BROS INC | CL A | 26701L100 |  | 78011 | 1141 | SH |  | SOLE |  | 1141 | 0 | 0 |
| DYNE THERAPEUTICS INC | COM | 26818M108 |  | 525647 | 55215 | SH |  | SOLE |  | 54215 | 0 | 1000 |
| EATON CORP PLC | SHS | G29183103 |  | 89248 | 250 | SH |  | SOLE |  | 250 | 0 | 0 |
| EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 |  | 84193 | 8230 | SH |  | SOLE |  | 8230 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 5757933 | 21370 | SH |  | SOLE |  | 19859 | 0 | 1511 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 38896 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 5474640 | 7023 | SH |  | SOLE |  | 6783 | 0 | 240 |
| EMBECTA CORP | COMMON STOCK | 29082K105 |  | 388 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 66665 | 500 | SH |  | SOLE |  | 0 | 0 | 500 |
| ENBRIDGE INC | COM | 29250N105 |  | 90640 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 297402 | 9591 | SH |  | SOLE |  | 9591 | 0 | 0 |
| ESSENTIAL UTILS INC | COM | 29670G102 |  | 2310108 | 62200 | SH |  | SOLE |  | 60800 | 0 | 1400 |
| EXCHANGE TRADED CONCEPTS TRU | EMQQ THE EMERGIN | 301505889 |  | 626 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 121008 | 2764 | SH |  | SOLE |  | 2764 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 131388 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 249342 | 2313 | SH |  | SOLE |  | 2313 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 3427452 | 81606 | SH |  | SOLE |  | 49206 | 0 | 32400 |
| FIDELITY COVINGTON TRUST | MSCI HLTH CARE I | 316092600 |  | 1279 | 20 | SH |  | SOLE |  | 20 | 0 | 0 |
| FIDELITY COVINGTON TRUST | MSCI INFO TECH I | 316092808 |  | 13806 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 209928 | 5104 | SH |  | SOLE |  | 5104 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 85516 | 496 | SH |  | SOLE |  | 496 | 0 | 0 |
| FLEXSHARES TR | FLEXSHARES ULTRA | 33939L886 |  | 25221 | 334 | SH |  | SOLE |  | 334 | 0 | 0 |
| FLEXSHARES TR | STOXX GLOBR INF | 33939L795 |  | 5693 | 92 | SH |  | SOLE |  | 92 | 0 | 0 |
| FLOWERS FOODS INC | COM | 343498101 |  | 599091 | 37490 | SH |  | SOLE |  | 35315 | 0 | 2175 |
| FORTINET INC | COM | 34959E109 |  | 105720 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 410733 | 7879 | SH |  | SOLE |  | 7879 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 433500 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 221740 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 68835 | 860 | SH |  | SOLE |  | 860 | 0 | 0 |
| GRAY MEDIA INC | COM | 389375106 |  | 15176 | 3350 | SH |  | SOLE |  | 3350 | 0 | 0 |
| GRIFFON CORP | COM | 398433102 |  | 3090272 | 42701 | SH |  | SOLE |  | 37951 | 0 | 4750 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 |  | 104069 | 442 | SH |  | SOLE |  | 442 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 |  | 809698 | 39730 | SH |  | SOLE |  | 28930 | 0 | 10800 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 27979 | 267 | SH |  | SOLE |  | 267 | 0 | 0 |
| HEICO CORP NEW | COM | 422806109 |  | 196800 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 5209588 | 14209 | SH |  | SOLE |  | 13434 | 0 | 775 |
| HONEYWELL INTL INC | COM | 438516106 |  | 12343 | 53 | SH |  | SOLE |  | 53 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 |  | 389641 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 20918 | 39 | SH |  | SOLE |  | 39 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 8486362 | 34323 | SH |  | SOLE |  | 26376 | 0 | 7947 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 3228466 | 38813 | SH |  | SOLE |  | 37300 | 0 | 1513 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 16831355 | 91739 | SH |  | SOLE |  | 80539 | 0 | 11200 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 22109 | 75 | SH |  | SOLE |  | 75 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 6613730 | 8397 | SH |  | SOLE |  | 4840 | 0 | 3557 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1195502 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 45908 | 750 | SH |  | SOLE |  | 750 | 0 | 0 |
| ISHARES INC | MSCI EM ASIA ETF | 464286426 |  | 659492 | 7989 | SH |  | SOLE |  | 6589 | 0 | 1400 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 21612 | 210 | SH |  | SOLE |  | 210 | 0 | 0 |
| ISHARES TR | CORE MSCI EURO | 46434V738 |  | 43030 | 650 | SH |  | SOLE |  | 650 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 26995 | 247 | SH |  | SOLE |  | 247 | 0 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 15040 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 3083390 | 4966 | SH |  | SOLE |  | 4926 | 0 | 40 |
| ISHARES TR | GL CLEAN ENE ETF | 464288224 |  | 656 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| ISHARES TR | IBONDS DEC2026 | 46435GAA0 |  | 109125 | 4500 | SH |  | SOLE |  | 4500 | 0 | 0 |
| ISHARES TR | IBONDS DEC25 ETF | 46434VBD1 |  | 270685 | 10750 | SH |  | SOLE |  | 10750 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 478 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 3469852 | 38817 | SH |  | SOLE |  | 38702 | 0 | 115 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 14472 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 23770 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 220358 | 519 | SH |  | SOLE |  | 519 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 67178 | 235 | SH |  | SOLE |  | 235 | 0 | 0 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 1168379 | 8425 | SH |  | SOLE |  | 8425 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1220509 | 5656 | SH |  | SOLE |  | 5656 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 1101 | 10 | SH |  | SOLE |  | 10 | 0 | 0 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 3195 | 51 | SH |  | SOLE |  | 51 | 0 | 0 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 1387 | 8 | SH |  | SOLE |  | 8 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 108147 | 708 | SH |  | SOLE |  | 708 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 608522 | 2099 | SH |  | SOLE |  | 2099 | 0 | 0 |
| KIMCO RLTY CORP | COM | 49446R109 |  | 15240 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 376475 | 778 | SH |  | SOLE |  | 778 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 75562 | 568 | SH |  | SOLE |  | 568 | 0 | 0 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 907103 | 11111 | SH |  | SOLE |  | 10143 | 0 | 968 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 24327 | 550 | SH |  | SOLE |  | 550 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 7788 | 80 | SH |  | SOLE |  | 0 | 0 | 80 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 1683226 | 20832 | SH |  | SOLE |  | 17207 | 0 | 3625 |
| LINDE PLC | SHS | G54950103 |  | 14545 | 31 | SH |  | SOLE |  | 31 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 190064 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| MACOM TECH SOLUTIONS HLDGS I | COM | 55405Y100 |  | 163845 | 1144 | SH |  | SOLE |  | 1144 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 99666 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 196679 | 350 | SH |  | SOLE |  | 350 | 0 | 0 |
| MCGRATH RENTCORP | COM | 580589109 |  | 1641066 | 14152 | SH |  | SOLE |  | 13202 | 0 | 950 |
| MCKESSON CORP | COM | 58155Q103 |  | 3664 | 5 | SH |  | SOLE |  | 5 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 158320 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 4235899 | 5739 | SH |  | SOLE |  | 5471 | 0 | 268 |
| MICROSOFT CORP | COM | 594918104 |  | 29299806 | 58905 | SH |  | SOLE |  | 52625 | 0 | 6280 |
| MIDDLEBY CORP | COM | 596278101 |  | 36000 | 250 | SH |  | SOLE |  | 250 | 0 | 0 |
| MOBILEYE GLOBAL INC | COMMON CLASS A | 60741F104 |  | 1447139 | 80486 | SH |  | SOLE |  | 66636 | 0 | 13850 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 2426020 | 35973 | SH |  | SOLE |  | 35973 | 0 | 0 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 14808251 | 20247 | SH |  | SOLE |  | 18532 | 0 | 1715 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 9861 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 105115 | 250 | SH |  | SOLE |  | 250 | 0 | 0 |
| MURPHY USA INC | COM | 626755102 |  | 2564874 | 6305 | SH |  | SOLE |  | 6268 | 0 | 37 |
| NATERA INC | COM | 632307104 |  | 157284 | 931 | SH |  | SOLE |  | 931 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 1090052 | 814 | SH |  | SOLE |  | 814 | 0 | 0 |
| NEXSTAR MEDIA GROUP INC | COMMON STOCK | 65336K103 |  | 861119 | 4979 | SH |  | SOLE |  | 3699 | 0 | 1280 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1670107 | 24058 | SH |  | SOLE |  | 23143 | 0 | 915 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 345100 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| NUTANIX INC | CL A | 67059N108 |  | 895495 | 11715 | SH |  | SOLE |  | 11215 | 0 | 500 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 29909877 | 189315 | SH |  | SOLE |  | 155500 | 0 | 33815 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 162300 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 |  | 3597 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 4309198 | 19710 | SH |  | SOLE |  | 15680 | 0 | 4030 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 14202235 | 157575 | SH |  | SOLE |  | 149640 | 0 | 7935 |
| PACER FDS TR | US SMALL CAP CAS | 69374H857 |  | 685814 | 17225 | SH |  | SOLE |  | 15675 | 0 | 1550 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 546 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 28438412 | 138968 | SH |  | SOLE |  | 116348 | 0 | 22620 |
| PATTERSON-UTI ENERGY INC | COM | 703481101 |  | 40544 | 6837 | SH |  | SOLE |  | 6837 | 0 | 0 |
| PENUMBRA INC | COM | 70975L107 |  | 224552 | 875 | SH |  | SOLE |  | 875 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 498451 | 3775 | SH |  | SOLE |  | 3775 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 94536 | 3900 | SH |  | SOLE |  | 1500 | 0 | 2400 |
| PHREESIA INC | COM | 71944F106 |  | 3229357 | 113470 | SH |  | SOLE |  | 103245 | 0 | 10225 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 18806580 | 187065 | SH |  | SOLE |  | 182555 | 0 | 4510 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 334572 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 19033 | 189 | SH |  | SOLE |  | 189 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 2965 | 28 | SH |  | SOLE |  | 28 | 0 | 0 |
| PURE STORAGE INC | CL A | 74624M102 |  | 3890393 | 67565 | SH |  | SOLE |  | 60165 | 0 | 7400 |
| QUALCOMM INC | COM | 747525103 |  | 23889 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 1136131 | 3005 | SH |  | SOLE |  | 3005 | 0 | 0 |
| RALLIANT CORP | COM | 750940108 |  | 56976 | 1175 | SH |  | SOLE |  | 1175 | 0 | 0 |
| RB GLOBAL INC | COM | 74935Q107 |  | 175214 | 1650 | SH |  | SOLE |  | 1650 | 0 | 0 |
| RBC BEARINGS INC | COM | 75524B104 |  | 542184 | 1409 | SH |  | SOLE |  | 1409 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 865 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 32553 | 132 | SH |  | SOLE |  | 132 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 129000 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| REVVITY INC | COM | 714046109 |  | 120900 | 1250 | SH |  | SOLE |  | 1250 | 0 | 0 |
| RPM INTL INC | COM | 749685103 |  | 805677 | 7335 | SH |  | SOLE |  | 5158 | 0 | 2177 |
| S GLOBAL INC | COM | 78409V104 |  | 885848 | 1680 | SH |  | SOLE |  | 350 | 0 | 1330 |
| SALESFORCE INC | COM | 79466L302 |  | 237241 | 870 | SH |  | SOLE |  | 820 | 0 | 50 |
| SAMSARA INC | COM CL A | 79589L106 |  | 238680 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| SAREPTA THERAPEUTICS INC | COM | 803607100 |  | 71478 | 4180 | SH |  | SOLE |  | 4180 | 0 | 0 |
| SCHRODINGER INC | COM | 80810D103 |  | 11066 | 550 | SH |  | SOLE |  | 0 | 0 | 550 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 16606 | 182 | SH |  | SOLE |  | 182 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 6078 | 24 | SH |  | SOLE |  | 24 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 13908895 | 13529 | SH |  | SOLE |  | 10591 | 0 | 2938 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 1027769 | 8910 | SH |  | SOLE |  | 8910 | 0 | 0 |
| SOUTH BOW CORP | COM | 83671M105 |  | 5182 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| SPDR INDEX SHS FDS | S INTL ETF | 78463X772 |  | 59010 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 499841 | 809 | SH |  | SOLE |  | 787 | 0 | 22 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 305900 | 540 | SH |  | SOLE |  | 540 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG SHT TE | 78468R408 |  | 7007 | 275 | SH |  | SOLE |  | 275 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 89046 | 1225 | SH |  | SOLE |  | 1225 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78468R853 |  | 133935 | 3144 | SH |  | SOLE |  | 3144 | 0 | 0 |
| SPDR SERIES TRUST | PRTFLO S HI | 78468R788 |  | 12732 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| SPDR SERIES TRUST | S 400 MDCP GRW | 78464A821 |  | 56466 | 650 | SH |  | SOLE |  | 650 | 0 | 0 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 68677 | 506 | SH |  | SOLE |  | 506 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 10794579 | 117806 | SH |  | SOLE |  | 100861 | 0 | 16945 |
| STRYKER CORPORATION | COM | 863667101 |  | 26683506 | 67446 | SH |  | SOLE |  | 58712 | 0 | 8734 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 9267640 | 247467 | SH |  | SOLE |  | 205782 | 0 | 41685 |
| SUPER MICRO COMPUTER INC | COM NEW | 86800U302 |  | 6127 | 125 | SH |  | SOLE |  | 125 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 51268 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 288103 | 3804 | SH |  | SOLE |  | 3804 | 0 | 0 |
| TC ENERGY CORP | COM | 87807B107 |  | 97580 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 32719 | 103 | SH |  | SOLE |  | 103 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 2822675 | 2672 | SH |  | SOLE |  | 2640 | 0 | 32 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 13056623 | 32202 | SH |  | SOLE |  | 27383 | 0 | 4819 |
| TJX COS INC NEW | COM | 872540109 |  | 101024 | 818 | SH |  | SOLE |  | 818 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 5324230 | 100895 | SH |  | SOLE |  | 75170 | 0 | 25725 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 8679090 | 19842 | SH |  | SOLE |  | 19267 | 0 | 575 |
| TRANSMEDICS GROUP INC | COM | 89377M109 |  | 154834 | 1155 | SH |  | SOLE |  | 1155 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 |  | 13297 | 175 | SH |  | SOLE |  | 175 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 39340 | 171 | SH |  | SOLE |  | 171 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 3557555 | 4722 | SH |  | SOLE |  | 4542 | 0 | 180 |
| VAALCO ENERGY INC | COM NEW | 91851C201 |  | 22743 | 6300 | SH |  | SOLE |  | 6300 | 0 | 0 |
| VALMONT INDS INC | COM | 920253101 |  | 327550 | 1003 | SH |  | SOLE |  | 1003 | 0 | 0 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 |  | 5949 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 15740 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 144471 | 508 | SH |  | SOLE |  | 508 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 56228 | 185 | SH |  | SOLE |  | 185 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1029807 | 20821 | SH |  | SOLE |  | 20821 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 591242 | 7437 | SH |  | SOLE |  | 7437 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 |  | 95942 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 8692 | 35 | SH |  | SOLE |  | 35 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 68318 | 103 | SH |  | SOLE |  | 103 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 12477886 | 43329 | SH |  | SOLE |  | 36944 | 0 | 6385 |
| VERALTO CORP | COM SHS | 92338C103 |  | 45731 | 453 | SH |  | SOLE |  | 453 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 286580 | 920 | SH |  | SOLE |  | 625 | 0 | 295 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 135761 | 5347 | SH |  | SOLE |  | 5347 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 |  | 535800 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 19930732 | 56135 | SH |  | SOLE |  | 48673 | 0 | 7462 |
| WALMART INC | COM | 931142103 |  | 4234363 | 43305 | SH |  | SOLE |  | 38880 | 0 | 4425 |
| WATSCO INC | COM | 942622200 |  | 7789294 | 17638 | SH |  | SOLE |  | 15333 | 0 | 2305 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 83360 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 97827 | 1221 | SH |  | SOLE |  | 221 | 0 | 1000 |
| WELLTOWER INC | COM | 95040Q104 |  | 169250 | 1101 | SH |  | SOLE |  | 1101 | 0 | 0 |
| WESCO INTL INC | COM | 95082P105 |  | 76858 | 415 | SH |  | SOLE |  | 415 | 0 | 0 |
| WESTLAKE CORPORATION | COM | 960413102 |  | 26576 | 350 | SH |  | SOLE |  | 350 | 0 | 0 |
| WISDOMTREE TR | EM EX ST-OWNED | 97717X578 |  | 9207 | 267 | SH |  | SOLE |  | 267 | 0 | 0 |
| YORK WTR CO | COM | 987184108 |  | 25284 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 1268502 | 8134 | SH |  | SOLE |  | 7134 | 0 | 1000 |
| ZSCALER INC | COM | 98980G102 |  | 9701060 | 30901 | SH |  | SOLE |  | 25376 | 0 | 5525 |

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