# EDGAR Filing Document

**Accession Number:** 0000797136
**File Stem:** 0000910472-26-008730
**Filing Date:** 2026-6
**Character Count:** 26964
**Document Hash:** 7aa09f2e18b3094a4f71ed48cea2da3a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008730.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000910472-26-008730

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FENIMORE ASSET MANAGEMENT TRUST
- **CENTRAL INDEX KEY:** 0000797136

**ORGANIZATION NAME:**
- **EIN:** 146131155
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04750
- **FILM NUMBER:** 261048986

**BUSINESS ADDRESS:**
- **STREET 1:** 384 N GRAND ST
- **STREET 2:** PO BOX 399
- **CITY:** COBLESKILL
- **STATE:** NY
- **ZIP:** 12043
- **BUSINESS PHONE:** 518-234-7400

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 399
- **CITY:** COBLESKILL
- **STATE:** NY
- **ZIP:** 12043

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FENIMORE ASSET MANAGEMENT TRUST FAM VALUE FUND SERIES
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FAM Dividend Focus Fund (Series ID: S000010873)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000030128 | Investor Class | FAMEX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **FAM VALUE FUND** | **FAM VALUE FUND** | **FAM VALUE FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 98.3%** | **Shares** | **Value** |
| **Banks - 2.0%** | **Banks - 2.0%** | **Banks - 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | 404977 | $34884718 |
| **Capital Markets - 7.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | 397940 | 17688433 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation - Class A | 2087640 | 84486791 |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P Global, Inc. | 72000 | 30624480 |
|  |  | 132799704 |
| **Construction Materials - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vulcan Materials Company | 297930 | 81126339 |
| **Diversified Financial Services - 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class A <sup>(a)</sup> | 18 | 12926520 |
| **Electronic Equipment, Instruments & Components - 18.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AMETEK, Inc. | 173280 | 37144301 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amphenol Corporation - Class A | 704085 | 88961139 |
| &nbsp;&nbsp;&nbsp;&nbsp;CDW Corporation | 558200 | 67553364 |
| &nbsp;&nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. <sup>(a)</sup> | 310870 | 87780362 |
| &nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies Corporation - Class A <sup>(a)</sup> | 186510 | 38995511 |
|  |  | 320434677 |
| **Health Care Equipment & Supplies - 4.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stryker Corporation | 208000 | 68346720 |
| **Hotels, Restaurants & Leisure - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | 11350 | 47787132 |
| **Insurance - 17.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Company | 119200 | 25816336 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brown & Brown, Inc. | 1257292 | 81988011 |
| &nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | 53850 | 103072670 |
| &nbsp;&nbsp;&nbsp;&nbsp;Progressive Corporation (The) | 340000 | 67401600 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ryan Specialty Group Holdings, Inc. | 400000 | 13496000 |
|  |  | 291774617 |
| **Life Sciences Tools & Services - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | 293170 | 33415517 |

---

---

| | | |
|:---|:---|:---|
| **FAM VALUE FUND** | **FAM VALUE FUND** | **FAM VALUE FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 98.3% (Continued)** | **Shares** | **Value** |
| **Machinery - 11.9%** | **Machinery - 11.9%** | **Machinery - 11.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Graco, Inc. | 670180 | $56730737 |
| &nbsp;&nbsp;&nbsp;&nbsp;IDEX Corporation | 431530 | 81796512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | 242560 | 63135942 |
|  |  | 201663191 |
| **Professional Services - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;ExlService Holdings, Inc. <sup>(a)</sup> | 1072900 | 32669805 |
| **Road & Rail - 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Landstar System, Inc. | 194800 | 31228388 |
| **Semiconductors & Semiconductor Equipment - 6.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Analog Devices, Inc. | 288610 | 91818385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | 258860 | 16724945 |
|  |  | 108543330 |
| **Specialty Retail - 11.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;AutoZone, Inc. <sup>(a)</sup> | 18265 | 61695152 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ross Stores, Inc. | 635848 | 137743752 |
|  |  | 199438904 |
| **Trading Companies & Distributors - 4.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fastenal Company | 1561800 | 72467520 |
| **Total Common Stocks (Cost $583,562,181)** |  | $1669507082 |

---

---

| | | |
|:---|:---|:---|
| **MONEY MARKET FUNDS - 1.7%** | **Shares** | **Value** |
| Invesco Treasury Portfolio - Institutional Class, 3.56% <sup>(b)</sup> <br> (Cost $29,101,057) | 29101057 | $29101057 |
| **Total Investments at Value - 100.0% (Cost $612,663,238)** |  | $1698608139 |
| **Liabilities in Excess of Other Assets - (0.0%) <sup>(c)</sup>** |  | (842270) |
| **Net Assets - 100.0%** |  | $1697765869 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> The rate shown is the 7-day effective yield as of March 31, 2026.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

---

| | | |
|:---|:---|:---|
| **FAM DIVIDEND FOCUS FUND** | **FAM DIVIDEND FOCUS FUND** | **FAM DIVIDEND FOCUS FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 96.7%** | **Shares** | **Value** |
| **Aerospace & Defense - 5.6%** | **Aerospace & Defense - 5.6%** | **Aerospace & Defense - 5.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HEICO Corporation - Class A | 166705 | $35189758 |
| **Apparel & Textile Products – 1.0%** | **Apparel & Textile Products – 1.0%** | **Apparel & Textile Products – 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gildan Activewear, Inc. | 109000 | 6065850 |
| **Building Products - 8.5%** | **Building Products - 8.5%** | **Building Products - 8.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trane Technologies plc | 128900 | 53717786 |
| **Capital Markets - 1.8%** | **Capital Markets - 1.8%** | **Capital Markets - 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Houlihan Lokey, Inc. | 81544 | 11711349 |
| **Commercial Services & Supplies - 4.3%** | **Commercial Services & Supplies - 4.3%** | **Commercial Services & Supplies - 4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cintas Corporation | 159132 | 26915587 |
| **Commercial Support Services - 5.1%** | **Commercial Support Services - 5.1%** | **Commercial Support Services - 5.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic Services, Inc. | 148390 | 32500378 |
| **Construction Materials - 9.4%** | **Construction Materials - 9.4%** | **Construction Materials - 9.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | 54614 | 32150169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vulcan Materials Company | 99430 | 27074789 |
|  |  | 59224958 |
| **Containers & Packaging - 2.1%** | **Containers & Packaging - 2.1%** | **Containers & Packaging - 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avery Dennison Corporation | 77207 | 13332105 |
| **Electronic Equipment, Instruments & Components - 4.0%** | **Electronic Equipment, Instruments & Components - 4.0%** | **Electronic Equipment, Instruments & Components - 4.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol Corporation - Class A | 150502 | 19015928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW Corporation | 49610 | 6003802 |
|  |  | 25019730 |
| **Health Care Equipment & Supplies - 9.7%** | **Health Care Equipment & Supplies - 9.7%** | **Health Care Equipment & Supplies - 9.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STERIS plc | 116700 | 25805871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stryker Corporation | 107000 | 35159130 |
|  |  | 60965001 |
| **Insurance - 6.2%** | **Insurance - 6.2%** | **Insurance - 6.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Company | 180350 | 39060203 |
| **IT Services - 8.8%** | **IT Services - 8.8%** | **IT Services - 8.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | 177400 | 28823952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | 100670 | 15909886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paychex, Inc. | 115890 | 10675787 |
|  |  | 55409625 |

---

---

| | | |
|:---|:---|:---|
| **FAM DIVIDEND FOCUS FUND**<br>**SCHEDULE OF INVESTMENTS (Continued)**<br>**COMMON STOCKS - 96.7% (Continued)** |<br>**Shares** |<br>**Value** |
| **Machinery - 2.4%** | **Machinery - 2.4%** | **Machinery - 2.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;IDEX Corporation | 80000 | $15164000 |
| **Medical Equipment & Devices - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | 92988 | 6618886 |
| **Professional Services - 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | 106120 | 20136270 |
| **Real Estate Management & Development - 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstService Corporation | 13700 | 1903478 |
| **Semiconductors & Semiconductor Equipment - 8.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Entegris, Inc. | 243000 | 28489320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | 373170 | 24110514 |
|  |  | 52599834 |
| **Specialty Retail - 7.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ross Stores, Inc. | 229376 | 49689723 |
| **Trading Companies & Distributors - 7.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fastenal Company | 675800 | 31357120 |
| &nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | 36460 | 13263783 |
|  |  | 44620903 |
| **Total Common Stocks (Cost $297,862,871)** |  | $609845424 |
| **MONEY MARKET FUNDS - 2.2%** | **Shares** | **Value** |
| Invesco Treasury Portfolio - Institutional Class, 3.56% <sup>(a)</sup> (Cost $14,200,971) | 14200971 | $14200971 |
| **Total Investments at Value - 98.9% (Cost $312,063,842)** |  | $624046395 |
| **Other Assets in Excess of Liabilities - 1.1%** |  | 6786278 |
| **Net Assets - 100.0%** |  | $630832673 |

---

<sup>(a)</sup> The rate shown is the 7-day effective yield as of March 31, 2026. <br>

---

| | | |
|:---|:---|:---|
| **FAM SMALL CAP FUND** | **FAM SMALL CAP FUND** | **FAM SMALL CAP FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 95.7%** | **Shares** | **Value** |
| **Banks - 3.6%** | **Banks - 3.6%** | **Banks - 3.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Home BancShares, Inc. | 403785 | $10873930 |
| **Building Products - 2.9%** | **Building Products - 2.9%** | **Building Products - 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc. – Class A <sup>(a)</sup> | 111636 | 8857200 |
| **Chemicals - 4.2%** | **Chemicals - 4.2%** | **Chemicals - 4.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Element Solutions, Inc. | 367174 | 12535320 |
| **Diversified Consumer Services - 7.4%** | **Diversified Consumer Services - 7.4%** | **Diversified Consumer Services - 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Frontdoor, Inc. <sup>(a)</sup> | 188736 | 9976585 |
| &nbsp;&nbsp;&nbsp;&nbsp;OneSpaWorld Holdings Ltd. | 542222 | 12443995 |
|  |  | 22420580 |
| **Electrical Equipment - 3.5%** | **Electrical Equipment - 3.5%** | **Electrical Equipment - 3.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Novanta, Inc. <sup>(a)</sup> | 86741 | 10244980 |
| **Gas Utilities - 2.9%** | **Gas Utilities - 2.9%** | **Gas Utilities - 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Brookfield Infrastructure Corporation - Class A | 221039 | 8735461 |
| **Health Care Facilities & Services - 3.4%** | **Health Care Facilities & Services - 3.4%** | **Health Care Facilities & Services - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Chemed Corporation | 27536 | 10401449 |
| **Hotels, Restaurants & Leisure - 4.3%** | **Hotels, Restaurants & Leisure - 4.3%** | **Hotels, Restaurants & Leisure - 4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Choice Hotels International, Inc. | 125529 | 12992252 |
| **Insurance - 9.0%** | **Insurance - 9.0%** | **Insurance - 9.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Baldwin Insurance Group, Inc. (The) <sup>(a)</sup> | 552764 | 12127642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trisura Group Ltd. <sup>(a)</sup> | 482990 | 15117091 |
|  |  | 27244733 |
| **Machinery - 5.8%** | **Machinery - 5.8%** | **Machinery - 5.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | 84130 | 8132006 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Electric Company, Inc. | 102380 | 9436364 |
|  |  | 17568370 |
| **Media - 6.3%** | **Media - 6.3%** | **Media - 6.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Altus Group Ltd. | 314338 | 10789763 |
| &nbsp;&nbsp;&nbsp;&nbsp;Boston Omaha Corporation - Class A <sup>(a)</sup> | 703635 | 8218457 |
|  |  | 19008220 |
| **Professional Services - 14.9%** | **Professional Services - 14.9%** | **Professional Services - 14.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;CBIZ, Inc. <sup>(a)</sup> | 546866 | 14683352 |
| &nbsp;&nbsp;&nbsp;&nbsp;ExlService Holdings, Inc. <sup>(a)</sup> | 580781 | 17684781 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exponent, Inc. | 195000 | 12723750 |
|  |  | 45091883 |

---

**FAM SMALL CAP FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS - 95.7% (Continued)** | **Shares** | **Value** |
| **Real Estate Management & Development - 9.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Colliers International Group, Inc. | 152847 | $16337816 |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstService Corporation | 77534 | 10772574 |
|  |  | 27110390 |
| **Road & Rail - 4.6%** | **Road & Rail - 4.6%** | **Road & Rail - 4.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Landstar System, Inc. | 86429 | 13855433 |
| **Software - 5.7%** | **Software - 5.7%** | **Software - 5.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Descartes Systems Group, Inc. (The) <sup>(a)</sup> | 125280 | 8965037 |
| &nbsp;&nbsp;&nbsp;&nbsp;SPS Commerce, Inc. <sup>(a)</sup> | 145584 | 8104661 |
|  |  | 17069698 |
| **Specialty Retail - 3.2%** | **Specialty Retail - 3.2%** | **Specialty Retail - 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc. - Class A <sup>(a)</sup> | 189519 | 9627565 |
| **Trading Companies & Distributors - 5.0%** | **Trading Companies & Distributors - 5.0%** | **Trading Companies & Distributors - 5.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc. <sup>(a)</sup> | 114082 | 15185455 |
| **Total Common Stocks (Cost $242,969,057)** |  | $288822919 |
| **MONEY MARKET FUNDS - 4.4%** | **Shares** | **Value** |
| Invesco Treasury Portfolio - Institutional Class, 3.56% <sup>(b)</sup> <br> (Cost $13,141,793) | 13141793 | $13141793 |
| **Total Investments at Value - 100.1% (Cost $256,110,850)** |  | $301964712 |
| **Liabilities in Excess of Other Assets - (0.1%)** |  | (237222) |
| **Net Assets - 100.0%** |  | $301727490 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of March 31, 2026.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Fenimore Asset Management Trust

- **b. Investment Company Act file number:** 811-04750

- **c. CIK number of Registrant:** 0000797136

- **d. LEI of Registrant:** 5493004VCQ6EILLEK631

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 384 North Grand Street

  - **City:** Cobleskill

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 12043

  - **Telephone number:** 800-932-3271

**Item A.2. Information about the Series.**

- **a. Name of Series:** FAM DIVIDEND FOCUS FUND

- **b. EDGAR series identifier (if any):** S000010873

- **c. LEI of Series:** 549300YKLHC8OPI53R12

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $631566161.66

**Total Liabilities:** $733488.77

**Net Assets:** $630832672.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000030128 | 3.48%                | 1.79%                | -8.90%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11997955.19             | $12439546.63                               |
| Month 2  | $6727113.38              | $5891102.92                                |
| Month 3  | $611759.64               | $-63086204.38                              |

### Schedule of Portfolio Investments

| Name                                | Title                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Amphenol Corporation                | Amphenol Corporation Class A                   | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    150502 | NS      | $19015927.70  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corporation          | Avery Dennison Corporation                     | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     77207 | NS      | $13332104.76  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc. | Broadridge Financial Solutions, Inc.           | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |    177400 | NS      | $28823952.00  | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                            | CDW Corp                                       | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     49610 | NS      | $6003802.20   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                  | Cintas Corporation                             | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    159132 | NS      | $26915586.48  | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                        | Entegris, Inc.                                 | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |    243000 | NS      | $28489320.00  | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                        | Fastenal Company                               | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    675800 | NS      | $31357120.00  | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp.                  | FirstService Corporation                       | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     13700 | NS      | $1903478.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Healthcare Technologies Inc.     | GE HealthCare Technologies, Inc.               | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     92988 | NS      | $6618885.84   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Gallagher Aj &Co                    | Arthur J Gallagher & Company                   | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |    180350 | NS      | $39060203.00  | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Gildan Activewear Inc.              | Gildan Activewear, Inc.                        | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | CA        |    109000 | NS      | $6065850.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                          | HEICO Corporation Class A                      | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |    166705 | NS      | $35189758.45  | 5.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.        | Jack Henry & Associates, Inc.                  | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |    100670 | NS      | $15909886.80  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Houlihan Lokey Inc.                 | Houlihan Lokey, Inc.                           | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               | CORP              | US        |     81544 | NS      | $11711349.28  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Idex Corporation                    | IDEX Corporation                               | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     80000 | NS      | $15164000.00  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc       | Martin Marietta Materials, Inc.                | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     54614 | NS      | $32150169.52  | 5.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated   | Microchip Technology, Inc.                     | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    373170 | NS      | $24110513.70  | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                         | Paychex, Inc.                                  | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |    115890 | NS      | $10675786.80  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.             | Republic Services, Inc.                        | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |    148390 | NS      | $32500377.80  | 5.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                     | Ross Stores, Inc.                              | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |    229376 | NS      | $49689722.88  | 7.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Short-Term Invts T                  | Invesco Treasury Portfolio Institutional Class | CUSIP: 825252406<br>LEI: 549300UJV6OHYATSFU27 | Long             | STIV             | RF                | US        |  14200971 | PA      | $14200970.72  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                 | Stryker Corporation                            | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |    107000 | NS      | $35159130.00  | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics, Inc.              | Verisk Analytics, Inc.                         | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |    106120 | NS      | $20136270.00  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company            | Vulcan Materials Company                       | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     99430 | NS      | $27074789.00  | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                          | Watsco, Inc.                                   | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |     36460 | NS      | $13263783.40  | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                          | STERIS plc                                     | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116700 | NS      | $25805871.00  | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC              | Trane Technologies plc                         | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |    128900 | NS      | $53717786.00  | 8.52%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-31

**Name of Applicant:** Susan McLauchlan

**Signature:** Susan McLauchlan

**Name of Signer:** Susan McLauchlan

**Title:** VP Fund Accounting