# EDGAR Filing Document

**Accession Number:** 0001364725
**File Stem:** 0001364725-23-000002
**Filing Date:** 2023-2
**Character Count:** 18081
**Document Hash:** 05f7eb007824d3e8a8bfd0ff9b185055
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001364725-23-000002.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001364725-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CIM, LLC
- **CENTRAL INDEX KEY:** 0001364725
- **IRS NUMBER:** 810637750
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11985
- **FILM NUMBER:** 23609850

**BUSINESS ADDRESS:**
- **STREET 1:** 30 S. PEARL STREET, 9TH FLOOR
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12207
- **BUSINESS PHONE:** 518-391-4200

**MAIL ADDRESS:**
- **STREET 1:** 30 S. PEARL STREET, 9TH FLOOR
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12207

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** CIM LLC<br>**Address:** 30 S. PEARL STREET 9TH FLOOR<br>ALBANY, NY 12207

**Form 13F File Number:** 028-11985

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:** Sean Battle<br>**Title:** Trader<br>**Phone:** 518-391-4215

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

Sean Battle  Albany, NY  02-10-2023<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:** 149

**Form 13F Information Table Value Total:** $504136086

      (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 |  | 434834 | 5720 | SH |  | SOLE | 0 | 0 | 0 | 5720 |
| ABBOTT LABS | COM | 002824100 |  | 1560017 | 14435 | SH |  | SOLE | 0 | 0 | 0 | 14435 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 1719230 | 6029 | SH |  | SOLE | 0 | 0 | 0 | 6029 |
| ACTIVISION BLIZZARD INC | COM | 00507V109 |  | 2457992 | 32660 | SH |  | SOLE | 0 | 0 | 0 | 32660 |
| ADVANCED ENERGY INDS | COM | 007973100 |  | 395210 | 4245 | SH |  | SOLE | 0 | 0 | 0 | 4245 |
| AFLAC INC | COM | 001055102 |  | 1966282 | 28239 | SH |  | SOLE | 0 | 0 | 0 | 28239 |
| AGCO CORP | COM | 001084102 |  | 1072006 | 8012 | SH |  | SOLE | 0 | 0 | 0 | 8012 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 16125291 | 169722 | SH |  | SOLE | 0 | 0 | 0 | 169722 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 923003 | 9669 | SH |  | SOLE | 0 | 0 | 0 | 9669 |
| AMAZON COM INC | COM | 023135106 |  | 10612183 | 108023 | SH |  | SOLE | 0 | 0 | 0 | 108023 |
| AMETEK INC | COM | 031100100 |  | 1149106 | 7960 | SH |  | SOLE | 0 | 0 | 0 | 7960 |
| AMPHASTAR PHARMACEUTICALS IN | COM | 03209R103 |  | 202636 | 6501 | SH |  | SOLE | 0 | 0 | 0 | 6501 |
| APPLE INC | COM | 037833100 |  | 16182547 | 107262 | SH |  | SOLE | 0 | 0 | 0 | 107262 |
| ARISTA NETWORKS INC | COM | 040413106 |  | 2059677 | 15087 | SH |  | SOLE | 0 | 0 | 0 | 15087 |
| AT INC | COM | 00206R102 |  | 220185 | 11607 | SH |  | SOLE | 0 | 0 | 0 | 11607 |
| AXCELIS TECHNOLOGIES INC | COM NEW | 054540208 |  | 533097 | 4285 | SH |  | SOLE | 0 | 0 | 0 | 4285 |
| BADGER METER INC | COM | 056525108 |  | 231028 | 1927 | SH |  | SOLE | 0 | 0 | 0 | 1927 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 14959693 | 48695 | SH |  | SOLE | 0 | 0 | 0 | 48695 |
| BOISE CASCADE CO DEL | COM | 09739D100 |  | 289463 | 3837 | SH |  | SOLE | 0 | 0 | 0 | 3837 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 14879826 | 6108 | SH |  | SOLE | 0 | 0 | 0 | 6108 |
| BOSTON BEER INC | CL A | 100557107 |  | 1143970 | 3137 | SH |  | SOLE | 0 | 0 | 0 | 3137 |
| BROWN  BROWN INC | COM | 115236101 |  | 942581 | 16165 | SH |  | SOLE | 0 | 0 | 0 | 16165 |
| CACTUS INC | CL A | 127203107 |  | 410430 | 8137 | SH |  | SOLE | 0 | 0 | 0 | 8137 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 1807005 | 9701 | SH |  | SOLE | 0 | 0 | 0 | 9701 |
| CALIFORNIA RES CORP | COM STOCK | 13057Q305 |  | 1099809 | 27223 | SH |  | SOLE | 0 | 0 | 0 | 27223 |
| CATALYST PHARMACEUTICALS INC | COM | 14888U101 |  | 362170 | 23396 | SH |  | SOLE | 0 | 0 | 0 | 23396 |
| CHEMED CORP NEW | COM | 16359R103 |  | 1138753 | 2309 | SH |  | SOLE | 0 | 0 | 0 | 2309 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 342657 | 2855 | SH |  | SOLE | 0 | 0 | 0 | 2855 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 15930555 | 9914 | SH |  | SOLE | 0 | 0 | 0 | 9914 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 2600661 | 31719 | SH |  | SOLE | 0 | 0 | 0 | 31719 |
| CINTAS CORP | COM | 172908105 |  | 877932 | 2004 | SH |  | SOLE | 0 | 0 | 0 | 2004 |
| COMFORT SYS USA INC | COM | 199908104 |  | 422536 | 3557 | SH |  | SOLE | 0 | 0 | 0 | 3557 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 2082141 | 37864 | SH |  | SOLE | 0 | 0 | 0 | 37864 |
| COPART INC | COM | 217204106 |  | 2035276 | 29403 | SH |  | SOLE | 0 | 0 | 0 | 29403 |
| CORCEPT THERAPEUTICS INC | COM | 218352102 |  | 323643 | 14047 | SH |  | SOLE | 0 | 0 | 0 | 14047 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1577986 | 3152 | SH |  | SOLE | 0 | 0 | 0 | 3152 |
| CSW INDUSTRIALS INC | COM | 126402106 |  | 407102 | 2940 | SH |  | SOLE | 0 | 0 | 0 | 2940 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 354532 | 2440 | SH |  | SOLE | 0 | 0 | 0 | 2440 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 1607415 | 24898 | SH |  | SOLE | 0 | 0 | 0 | 24898 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 1017494 | 2418 | SH |  | SOLE | 0 | 0 | 0 | 2418 |
| DIREXION SHS ETF TR | 20YR TRES BEAR | 25460G849 |  | 3847784 | 33202 | SH |  | SOLE | 0 | 0 | 0 | 33202 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 14705329 | 190286 | SH |  | SOLE | 0 | 0 | 0 | 190286 |
| ENDAVA PLC | ADS | 29260V105 |  | 1184169 | 12877 | SH |  | SOLE | 0 | 0 | 0 | 12877 |
| EPAM SYS INC | COM | 29414B104 |  | 922787 | 2525 | SH |  | SOLE | 0 | 0 | 0 | 2525 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 2613407 | 36495 | SH |  | SOLE | 0 | 0 | 0 | 36495 |
| ESSENT GROUP LTD | COM | G3198U102 |  | 1039620 | 24502 | SH |  | SOLE | 0 | 0 | 0 | 24502 |
| ETHAN ALLEN INTERIORS INC | COM | 297602104 |  | 437409 | 14888 | SH |  | SOLE | 0 | 0 | 0 | 14888 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 674531 | 3916 | SH |  | SOLE | 0 | 0 | 0 | 3916 |
| EXP WORLD HLDGS INC | COM | 30212W100 |  | 391556 | 24924 | SH |  | SOLE | 0 | 0 | 0 | 24924 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2875427 | 25146 | SH |  | SOLE | 0 | 0 | 0 | 25146 |
| FIVE BELOW INC | COM | 33829M101 |  | 1166806 | 5825 | SH |  | SOLE | 0 | 0 | 0 | 5825 |
| FLEXSHARES TR | READY ACC VARI | 33939L886 |  | 4467400 | 59781 | SH |  | SOLE | 0 | 0 | 0 | 59781 |
| FOCUS FINL PARTNERS INC | COM CL A | 34417P100 |  | 278818 | 5563 | SH |  | SOLE | 0 | 0 | 0 | 5563 |
| FORTINET INC | COM | 34959E109 |  | 1102223 | 19063 | SH |  | SOLE | 0 | 0 | 0 | 19063 |
| FUNKO INC | COM CL A | 361008105 |  | 109550 | 10605 | SH |  | SOLE | 0 | 0 | 0 | 10605 |
| GENERAC HLDGS INC | COM | 368736104 |  | 991589 | 8409 | SH |  | SOLE | 0 | 0 | 0 | 8409 |
| GENMAB A/S | SPONSORED ADS | 372303206 |  | 1065136 | 26877 | SH |  | SOLE | 0 | 0 | 0 | 26877 |
| HARMONY BIOSCIENCES HLDGS IN | COM | 413197104 |  | 352898 | 7372 | SH |  | SOLE | 0 | 0 | 0 | 7372 |
| HERSHEY CO | COM | 427866108 |  | 875228 | 3722 | SH |  | SOLE | 0 | 0 | 0 | 3722 |
| HOME DEPOT INC | COM | 437076102 |  | 1777966 | 5635 | SH |  | SOLE | 0 | 0 | 0 | 5635 |
| ICON PLC | SHS | G4705A100 |  | 1090668 | 4656 | SH |  | SOLE | 0 | 0 | 0 | 4656 |
| INSIGHT ENTERPRISES INC | COM | 45765U103 |  | 492827 | 3936 | SH |  | SOLE | 0 | 0 | 0 | 3936 |
| INTUIT | COM | 461202103 |  | 14066352 | 33512 | SH |  | SOLE | 0 | 0 | 0 | 33512 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 10544101 | 43182 | SH |  | SOLE | 0 | 0 | 0 | 43182 |
| INVESCO ACTVELY MNGD ETC FD | OPTIMUM YIELD | 46090F100 |  | 4043310 | 281176 | SH |  | SOLE | 0 | 0 | 0 | 281176 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 8652371 | 409871 | SH |  | SOLE | 0 | 0 | 0 | 409871 |
| INVESCO EXCHANGE TRADED FD T | FINL PFD ETF | 46137V621 |  | 5357627 | 338662 | SH |  | SOLE | 0 | 0 | 0 | 338662 |
| IRADIMED CORP | COM | 46266A109 |  | 318149 | 9014 | SH |  | SOLE | 0 | 0 | 0 | 9014 |
| ISHARES TR | CORE S ETF | 464287200 |  | 3411114 | 8339 | SH |  | SOLE | 0 | 0 | 0 | 8339 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 314113 | 6251 | SH |  | SOLE | 0 | 0 | 0 | 6251 |
| ISHARES TR | CORE 1 5 YR USD | 46432F859 |  | 18483236 | 395025 | SH |  | SOLE | 0 | 0 | 0 | 395025 |
| ISHARES TR | MBS ETF | 464288588 |  | 8177713 | 86381 | SH |  | SOLE | 0 | 0 | 0 | 86381 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 212112 | 5227 | SH |  | SOLE | 0 | 0 | 0 | 5227 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 395054 | 2080 | SH |  | SOLE | 0 | 0 | 0 | 2080 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 641062 | 8807 | SH |  | SOLE | 0 | 0 | 0 | 8807 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 2524993 | 33506 | SH |  | SOLE | 0 | 0 | 0 | 33506 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 846951 | 9762 | SH |  | SOLE | 0 | 0 | 0 | 9762 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 628594 | 8339 | SH |  | SOLE | 0 | 0 | 0 | 8339 |
| ISHARES TR | U.S. FINLS ETF | 464287788 |  | 3724793 | 46311 | SH |  | SOLE | 0 | 0 | 0 | 46311 |
| ISHARES TR | SP SMCP600VL ETF | 464287879 |  | 291628 | 2865 | SH |  | SOLE | 0 | 0 | 0 | 2865 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 1121332 | 22889 | SH |  | SOLE | 0 | 0 | 0 | 22889 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 13564312 | 125514 | SH |  | SOLE | 0 | 0 | 0 | 125514 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1623119 | 10057 | SH |  | SOLE | 0 | 0 | 0 | 10057 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 455944 | 3247 | SH |  | SOLE | 0 | 0 | 0 | 3247 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 1760452 | 5980 | SH |  | SOLE | 0 | 0 | 0 | 5980 |
| LENNAR CORP | CL A | 526057104 |  | 3204943 | 31773 | SH |  | SOLE | 0 | 0 | 0 | 31773 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 232838 | 750 | SH |  | SOLE | 0 | 0 | 0 | 750 |
| M/I HOMES INC | COM | 55305B101 |  | 286716 | 4835 | SH |  | SOLE | 0 | 0 | 0 | 4835 |
| MALIBU BOATS INC | COM CL A | 56117J100 |  | 269858 | 4421 | SH |  | SOLE | 0 | 0 | 0 | 4421 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 14225005 | 38402 | SH |  | SOLE | 0 | 0 | 0 | 38402 |
| MCDONALDS CORP | COM | 580135101 |  | 1668485 | 6401 | SH |  | SOLE | 0 | 0 | 0 | 6401 |
| MCGRATH RENTCORP | COM | 580589109 |  | 454595 | 4402 | SH |  | SOLE | 0 | 0 | 0 | 4402 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 2114399 | 9374 | SH |  | SOLE | 0 | 0 | 0 | 9374 |
| META PLATFORMS INC | CL A | 30303M102 |  | 9002931 | 50601 | SH |  | SOLE | 0 | 0 | 0 | 50601 |
| MGP INGREDIENTS INC NEW | COM | 55303J106 |  | 200207 | 2107 | SH |  | SOLE | 0 | 0 | 0 | 2107 |
| MICROSOFT CORP | COM | 594918104 |  | 3520909 | 13356 | SH |  | SOLE | 0 | 0 | 0 | 13356 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 1879403 | 3682 | SH |  | SOLE | 0 | 0 | 0 | 3682 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 15623739 | 151908 | SH |  | SOLE | 0 | 0 | 0 | 151908 |
| NAPCO SEC TECHNOLOGIES INC | COM | 630402105 |  | 371038 | 11738 | SH |  | SOLE | 0 | 0 | 0 | 11738 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1561109 | 21306 | SH |  | SOLE | 0 | 0 | 0 | 21306 |
| NIKE INC | CL B | 654106103 |  | 15702168 | 128517 | SH |  | SOLE | 0 | 0 | 0 | 128517 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 16017939 | 114799 | SH |  | SOLE | 0 | 0 | 0 | 114799 |
| NUVEEN N Y MUN VALUE FD | COM | 67062M105 |  | 122086 | 14049 | SH |  | SOLE | 0 | 0 | 0 | 14049 |
| NV5 GLOBAL INC | COM | 62945V109 |  | 237816 | 1851 | SH |  | SOLE | 0 | 0 | 0 | 1851 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 993550 | 4448 | SH |  | SOLE | 0 | 0 | 0 | 4448 |
| OCEAN PWR TECHNOLOGIES INC | COM NEW | 674870506 |  | 6160 | 10000 | SH |  | SOLE | 0 | 0 | 0 | 10000 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 2099470 | 5914 | SH |  | SOLE | 0 | 0 | 0 | 5914 |
| OMEGA FLEX INC | COM | 682095104 |  | 329127 | 2941 | SH |  | SOLE | 0 | 0 | 0 | 2941 |
| PACKAGING CORP AMER | COM | 695156109 |  | 1576580 | 11253 | SH |  | SOLE | 0 | 0 | 0 | 11253 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 898429 | 2786 | SH |  | SOLE | 0 | 0 | 0 | 2786 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 6834042 | 87147 | SH |  | SOLE | 0 | 0 | 0 | 87147 |
| PERION NETWORK LTD | SHS NEW | M78673114 |  | 419134 | 13490 | SH |  | SOLE | 0 | 0 | 0 | 13490 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 3896195 | 39241 | SH |  | SOLE | 0 | 0 | 0 | 39241 |
| PIMCO ETF TR | ENHANCD SHORT | 72201R643 |  | 305864 | 3139 | SH |  | SOLE | 0 | 0 | 0 | 3139 |
| PROGRESSIVE CORP | COM | 743315103 |  | 17939817 | 130776 | SH |  | SOLE | 0 | 0 | 0 | 130776 |
| PROGYNY INC | COM | 74340E103 |  | 249669 | 7969 | SH |  | SOLE | 0 | 0 | 0 | 7969 |
| PROSHARES TR | ULSH 20YRTRE NEW | 74347G887 |  | 2039064 | 31107 | SH |  | SOLE | 0 | 0 | 0 | 31107 |
| QUALYS INC | COM | 74758T303 |  | 889884 | 7281 | SH |  | SOLE | 0 | 0 | 0 | 7281 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 1714772 | 17525 | SH |  | SOLE | 0 | 0 | 0 | 17525 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 834887 | 1121 | SH |  | SOLE | 0 | 0 | 0 | 1121 |
| ROLLINS INC | COM | 775711104 |  | 928911 | 26233 | SH |  | SOLE | 0 | 0 | 0 | 26233 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 5780059 | 158924 | SH |  | SOLE | 0 | 0 | 0 | 158924 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 1584860 | 6846 | SH |  | SOLE | 0 | 0 | 0 | 6846 |
| SHOTSPOTTER INC | COM | 82536T107 |  | 223226 | 6175 | SH |  | SOLE | 0 | 0 | 0 | 6175 |
| SKECHERS U S A INC | CL A | 830566105 |  | 1044437 | 23678 | SH |  | SOLE | 0 | 0 | 0 | 23678 |
| SMITH A O CORP | COM | 831865209 |  | 2675325 | 40652 | SH |  | SOLE | 0 | 0 | 0 | 40652 |
| SOLAREDGE TECHNOLOGIES INC | COM | 83417M104 |  | 1050634 | 3551 | SH |  | SOLE | 0 | 0 | 0 | 3551 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 1428092 | 40978 | SH |  | SOLE | 0 | 0 | 0 | 40978 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 653935 | 1940 | SH |  | SOLE | 0 | 0 | 0 | 1940 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 398948 | 980 | SH |  | SOLE | 0 | 0 | 0 | 980 |
| SPDR SER TR | BLOOMBERG 1-3 MO | 78468R663 |  | 3982948 | 43525 | SH |  | SOLE | 0 | 0 | 0 | 43525 |
| SPDR SER TR | BBG CONV SEC ETF | 78464A359 |  | 2527872 | 36925 | SH |  | SOLE | 0 | 0 | 0 | 36925 |
| STARBUCKS CORP | COM | 855244109 |  | 383477 | 3616 | SH |  | SOLE | 0 | 0 | 0 | 3616 |
| SVB FINANCIAL GROUP | COM | 78486Q101 |  | 9584418 | 30341 | SH |  | SOLE | 0 | 0 | 0 | 30341 |
| SYNOPSYS INC | COM | 871607107 |  | 17258040 | 47450 | SH |  | SOLE | 0 | 0 | 0 | 47450 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 203146 | 2101 | SH |  | SOLE | 0 | 0 | 0 | 2101 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 951431 | 507 | SH |  | SOLE | 0 | 0 | 0 | 507 |
| TORO CO | COM | 891092108 |  | 15613529 | 143125 | SH |  | SOLE | 0 | 0 | 0 | 143125 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 18020416 | 77089 | SH |  | SOLE | 0 | 0 | 0 | 77089 |
| TREX CO INC | COM | 89531P105 |  | 829663 | 14497 | SH |  | SOLE | 0 | 0 | 0 | 14497 |
| UNION PAC CORP | COM | 907818108 |  | 1540393 | 7595 | SH |  | SOLE | 0 | 0 | 0 | 7595 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 15614023 | 32145 | SH |  | SOLE | 0 | 0 | 0 | 32145 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 |  | 242344 | 2189 | SH |  | SOLE | 0 | 0 | 0 | 2189 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 206096 | 5177 | SH |  | SOLE | 0 | 0 | 0 | 5177 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 768074 | 2634 | SH |  | SOLE | 0 | 0 | 0 | 2634 |
| VISA INC | COM CL A | 92826C839 |  | 392877 | 1713 | SH |  | SOLE | 0 | 0 | 0 | 1713 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 |  | 3658116 | 72668 | SH |  | SOLE | 0 | 0 | 0 | 72668 |
| XPEL INC | COM | 98379L100 |  | 425911 | 5610 | SH |  | SOLE | 0 | 0 | 0 | 5610 |
| ZYNEX INC | COM | 98986M103 |  | 362543 | 28819 | SH |  | SOLE | 0 | 0 | 0 | 28819 |

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