# EDGAR Filing Document

**Accession Number:** 0001639666
**File Stem:** 0001104659-26-051814
**Filing Date:** 2026-4
**Character Count:** 25529
**Document Hash:** b5aa6ed6962592651ab68561f615b957
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-051814.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001104659-26-051814

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260429

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ISTHMUS PARTNERS, LLC
- **CENTRAL INDEX KEY:** 0001639666

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16855
- **FILM NUMBER:** 26918512

**BUSINESS ADDRESS:**
- **STREET 1:** ONE SOUTH PINCKNEY STREET, SUITE 818
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53703
- **BUSINESS PHONE:** 608-729-0949

**MAIL ADDRESS:**
- **STREET 1:** ONE SOUTH PINCKNEY STREET, SUITE 818
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53703

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** ISTHMUS PARTNERS LLC<br>**Address:** ONE SOUTH PINCKNEY STREET SUITE 818<br>MADISON, WI 53703

**Form 13F File Number:** 028-16855

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:** Ryan Cobb<br>**Title:** Chief Operating Officer<br>**Phone:** 608-729-0953

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

/s/ Ryan Cobb  Madison, WI  04-28-2026<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:** 218

**Form 13F Information Table Value Total:** $953359795

      (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 |
| 1st Source Corporation | COM | 336901103 |  | 3870985 | 55931 | SH |  | SOLE |  | 6663 | 0 | 49268 |
| Abbott Laboratories | COM | 002824100 |  | 268995 | 2620 | SH |  | SOLE |  | 0 | 0 | 2620 |
| AbbVie Inc. | COM | 00287Y109 |  | 14585789 | 67064 | SH |  | SOLE |  | 889 | 0 | 66175 |
| abrdn Platinum ETF Trust | PHYSCL PLATM SHS | 003260106 |  | 619349 | 3475 | SH |  | SOLE |  | 0 | 0 | 3475 |
| Academy Sports and Outdoors Inc | COM | 00402L107 |  | 3513674 | 62244 | SH |  | SOLE |  | 8072 | 0 | 54172 |
| Accenture PLC | SHS CLASS A | G1151C101 |  | 9195500 | 46374 | SH |  | SOLE |  | 598 | 0 | 45776 |
| Acuity Inc. | COM | 00508Y102 |  | 371292 | 1325 | SH |  | SOLE |  | 0 | 0 | 1325 |
| Advanced Drainage System Inc | COM | 00790R104 |  | 328838 | 2398 | SH |  | SOLE |  | 0 | 0 | 2398 |
| Agco Corporation | COM | 001084102 |  | 355953 | 3072 | SH |  | SOLE |  | 0 | 0 | 3072 |
| AirJoule Technologies Corporation | CL A | 612160101 |  | 42670 | 17000 | SH |  | SOLE |  | 0 | 0 | 17000 |
| Align Technology Inc. | COM | 016255101 |  | 370460 | 2161 | SH |  | SOLE |  | 0 | 0 | 2161 |
| Allison Transmission Holdings Inc | COM | 01973R101 |  | 16308097 | 139314 | SH |  | SOLE |  | 1992 | 0 | 137322 |
| Alphabet Inc. | CAP STK CL C | 02079K107 |  | 729696 | 2544 | SH |  | SOLE |  | 400 | 0 | 2144 |
| Alphabet Inc. | CAP STK CL A | 02079K305 |  | 20178660 | 70172 | SH |  | SOLE |  | 965 | 0 | 69207 |
| Amalgamated Financial Corp. | COM | 022671101 |  | 4375596 | 112570 | SH |  | SOLE |  | 12985 | 0 | 99585 |
| Amazon.com Inc. | COM | 023135106 |  | 1262741 | 6063 | SH |  | SOLE |  | 0 | 0 | 6063 |
| Amcor PLC F | ORD | G0250X107 |  | 11713530 | 294680 | SH |  | SOLE |  | 0 | 0 | 294680 |
| Amdocs Limited | SHS | G02602103 |  | 383533 | 5877 | SH |  | SOLE |  | 0 | 0 | 5877 |
| Amerisafe Inc | COM | 03071H100 |  | 2977869 | 89345 | SH |  | SOLE |  | 10278 | 0 | 79067 |
| Amphenol Corporation | CL A | 032095101 |  | 260028 | 2058 | SH |  | SOLE |  | 0 | 0 | 2058 |
| Apogee Enterprises Inc. | COM | 037598109 |  | 2612565 | 77894 | SH |  | SOLE |  | 10544 | 0 | 67350 |
| Apple Hospitality Reit Inc | COM NEW | 03784Y200 |  | 2891646 | 251229 | SH |  | SOLE |  | 34257 | 0 | 216972 |
| Apple Inc. | COM | 037833100 |  | 23078800 | 90937 | SH |  | SOLE |  | 1096 | 0 | 89841 |
| Applied Materials Inc. | COM | 038222105 |  | 15577079 | 45575 | SH |  | SOLE |  | 613 | 0 | 44962 |
| Artisan Partners Asset Management Inc. | COM | 04316A108 |  | 3314110 | 91072 | SH |  | SOLE |  | 11266 | 0 | 79806 |
| Atkore Inc | COM | 047649108 |  | 2168713 | 36814 | SH |  | SOLE |  | 3480 | 0 | 33334 |
| Automatic Data Processing Inc. | COM | 053015103 |  | 395591 | 1947 | SH |  | SOLE |  | 0 | 0 | 1947 |
| Autozone Inc. | COM | 053332102 |  | 14629165 | 4331 | SH |  | SOLE |  | 55 | 0 | 4276 |
| Avery Dennison Corporation | COM | 053611109 |  | 381277 | 2208 | SH |  | SOLE |  | 0 | 0 | 2208 |
| Avient Corporation | COM | 05368V106 |  | 2783593 | 76683 | SH |  | SOLE |  | 10122 | 0 | 66561 |
| Axcelis Technologies Inc. | COM | 054540208 |  | 3663350 | 39357 | SH |  | SOLE |  | 4610 | 0 | 34747 |
| Bank of Montreal | COM | 063671101 |  | 391268 | 2891 | SH |  | SOLE |  | 0 | 0 | 2891 |
| Berkshire Hathaway Inc. | COM | 084670702 |  | 908563 | 1896 | SH |  | SOLE |  | 0 | 0 | 1896 |
| Biolife Solutions Inc. | COM | 09062W204 |  | 2632124 | 137952 | SH |  | SOLE |  | 16662 | 0 | 121290 |
| Boeing Co. | COM | 097023105 |  | 269885 | 1356 | SH |  | SOLE |  | 0 | 0 | 1356 |
| BOK Financial Corp | COM | 05561Q201 |  | 3360935 | 26245 | SH |  | SOLE |  | 3279 | 0 | 22966 |
| Booz Allen Hamilton Holding Corp. | COM | 099502106 |  | 9934546 | 127317 | SH |  | SOLE |  | 1461 | 0 | 125856 |
| Broadcom Inc | COM | 11135F101 |  | 17976650 | 58081 | SH |  | SOLE |  | 740 | 0 | 57341 |
| Butterfly Network Inc | COM | 124155102 |  | 2784457 | 689222 | SH |  | SOLE |  | 0 | 0 | 689222 |
| C.H. Robinson Worldwide Inc | COM | 12541W209 |  | 12464384 | 75055 | SH |  | SOLE |  | 1035 | 0 | 74020 |
| Cabot Corporation | COM | 127055101 |  | 1652151 | 21938 | SH |  | SOLE |  | 2137 | 0 | 19801 |
| Capital City Bank Group Inc. | COM | 139674105 |  | 3799447 | 87424 | SH |  | SOLE |  | 11849 | 0 | 75575 |
| Caterpillar Inc | COM | 149123101 |  | 3574181 | 5045 | SH |  | SOLE |  | 0 | 0 | 5045 |
| Cboe Global Markets Inc | COM | 12503M108 |  | 15751725 | 56042 | SH |  | SOLE |  | 838 | 0 | 55204 |
| Cencora Inc | COM | 03073E105 |  | 13249483 | 42177 | SH |  | SOLE |  | 579 | 0 | 41598 |
| Chevron Corp. | COM | 166764100 |  | 646356 | 3124 | SH |  | SOLE |  | 0 | 0 | 3124 |
| Cisco Systems Inc. | COM | 17275R102 |  | 257521 | 3319 | SH |  | SOLE |  | 0 | 0 | 3319 |
| Climb Global Solutions Inc | COM | 946760105 |  | 2656950 | 134054 | SH |  | SOLE |  | 15557 | 0 | 118497 |
| Colgate-Palmolive Co. | COM | 194162103 |  | 12411193 | 145620 | SH |  | SOLE |  | 2100 | 0 | 143520 |
| Columbus McKinnon Corp. | COM | 199333105 |  | 1802432 | 124049 | SH |  | SOLE |  | 13455 | 0 | 110594 |
| Commerce Bancshares Inc | COM | 200525103 |  | 378791 | 7699 | SH |  | SOLE |  | 0 | 0 | 7699 |
| Commercial Metals Company | COM | 201723103 |  | 344377 | 5606 | SH |  | SOLE |  | 0 | 0 | 5606 |
| Comstock Resources Inc. | COM | 205768302 |  | 3926045 | 186245 | SH |  | SOLE |  | 22081 | 0 | 164164 |
| ConocoPhillips | COM | 20825C104 |  | 369468 | 2799 | SH |  | SOLE |  | 0 | 0 | 2799 |
| Core  Main Inc | COM | 21874C102 |  | 3804442 | 77013 | SH |  | SOLE |  | 9378 | 0 | 67635 |
| Core Laboratories Inc | COM | 21867A105 |  | 243606 | 14509 | SH |  | SOLE |  | 0 | 0 | 14509 |
| Corning Incorporated | COM | 219350105 |  | 390234 | 2870 | SH |  | SOLE |  | 0 | 0 | 2870 |
| Costco Wholesale Corporation | COM | 22160K105 |  | 215229 | 216 | SH |  | SOLE |  | 0 | 0 | 216 |
| Coterra Energy Inc | COM | 127097103 |  | 13708114 | 390100 | SH |  | SOLE |  | 5564 | 0 | 384536 |
| CRA International Inc. | COM | 12618T105 |  | 3193892 | 19730 | SH |  | SOLE |  | 2334 | 0 | 17396 |
| Crane NXT Co | COM | 224441105 |  | 2823197 | 69554 | SH |  | SOLE |  | 7083 | 0 | 62471 |
| Crocs Inc | COM | 227046109 |  | 378073 | 4554 | SH |  | SOLE |  | 0 | 0 | 4554 |
| DexCom Inc | COM | 252131107 |  | 11470671 | 182654 | SH |  | SOLE |  | 2430 | 0 | 180224 |
| Docgo Inc | COM | 256086109 |  | 637314 | 1013056 | SH |  | SOLE |  | 123668 | 0 | 889388 |
| Donnelley Financial Solutions Inc | COM | 25787G100 |  | 3436553 | 72901 | SH |  | SOLE |  | 8265 | 0 | 64636 |
| Eaton Corporation PLC | COM | G29183103 |  | 606251 | 1695 | SH |  | SOLE |  | 0 | 0 | 1695 |
| Ecolab Inc. | COM | 278865100 |  | 376418 | 1415 | SH |  | SOLE |  | 0 | 0 | 1415 |
| Eli Lilly  Co. | COM | 532457108 |  | 243739 | 265 | SH |  | SOLE |  | 0 | 0 | 265 |
| Embecta Corp. | COM | 29082K105 |  | 1293663 | 146342 | SH |  | SOLE |  | 17874 | 0 | 128468 |
| Emerson Electric Co. | COM | 291011104 |  | 13476586 | 102859 | SH |  | SOLE |  | 1306 | 0 | 101553 |
| Employers Holdings Inc. | COM | 292218104 |  | 2942168 | 71516 | SH |  | SOLE |  | 10073 | 0 | 61443 |
| Energy Recovery Inc. | COM | 29270J100 |  | 1543348 | 153262 | SH |  | SOLE |  | 19750 | 0 | 133512 |
| Evercore Inc. | COM | 29977A105 |  | 944784 | 3165 | SH |  | SOLE |  | 0 | 0 | 3165 |
| Exponent Inc | COM | 30214U102 |  | 221198 | 3390 | SH |  | SOLE |  | 0 | 0 | 3390 |
| Exxon Mobil Corp. | COM | 30231G102 |  | 1459924 | 8605 | SH |  | SOLE |  | 0 | 0 | 8605 |
| Fastenal Co. | COM | 311900104 |  | 907955 | 19568 | SH |  | SOLE |  | 0 | 0 | 19568 |
| Ferguson Enterprises Inc | COM | 31488V107 |  | 291108 | 1248 | SH |  | SOLE |  | 0 | 0 | 1248 |
| Fidelity National Information Services Inc | COM | 31620M106 |  | 337611 | 7197 | SH |  | SOLE |  | 0 | 0 | 7197 |
| Fifth Third Bancorp | COM | 316773100 |  | 13758293 | 296132 | SH |  | SOLE |  | 4039 | 0 | 292093 |
| First Horizon Corporation | COM | 320517105 |  | 392269 | 17235 | SH |  | SOLE |  | 0 | 0 | 17235 |
| Frontdoor Inc | COM | 35905A109 |  | 4105583 | 77669 | SH |  | SOLE |  | 10219 | 0 | 67450 |
| FTI Consulting Inc. | COM | 302941109 |  | 307403 | 1739 | SH |  | SOLE |  | 0 | 0 | 1739 |
| Gartner Inc. | COM | 366651107 |  | 11052607 | 69803 | SH |  | SOLE |  | 850 | 0 | 68953 |
| GE Aerospace | COM | 369604301 |  | 231556 | 816 | SH |  | SOLE |  | 0 | 0 | 816 |
| Global Ship Lease Inc. | COM | Y27183600 |  | 4538300 | 121899 | SH |  | SOLE |  | 15163 | 0 | 106736 |
| Green Brick Partners Inc. | COM | 392709101 |  | 3429771 | 53216 | SH |  | SOLE |  | 6272 | 0 | 46944 |
| Hackett Group Inc. | COM | 404609109 |  | 2271780 | 174618 | SH |  | SOLE |  | 20833 | 0 | 153785 |
| Haemonetics Corp | COM | 405024100 |  | 3676306 | 65229 | SH |  | SOLE |  | 7680 | 0 | 57549 |
| Halozyme Therapeutics Inc | COM | 40637H109 |  | 385906 | 5971 | SH |  | SOLE |  | 0 | 0 | 5971 |
| HCA Healthcare Inc | COM | 40412C101 |  | 15434723 | 32615 | SH |  | SOLE |  | 472 | 0 | 32143 |
| Healthpeak Properties Inc | COM | 42250P103 |  | 381324 | 23209 | SH |  | SOLE |  | 0 | 0 | 23209 |
| Henry Jack  Associates Inc. | COM | 426281101 |  | 398261 | 2520 | SH |  | SOLE |  | 0 | 0 | 2520 |
| Hershey Co. (The) | COM | 427866108 |  | 12328085 | 59301 | SH |  | SOLE |  | 1043 | 0 | 58258 |
| Home Depot Inc. | COM | 437076102 |  | 220356 | 670 | SH |  | SOLE |  | 0 | 0 | 670 |
| Hudson Technologes Inc | COM | 444144109 |  | 255174 | 43397 | SH |  | SOLE |  | 0 | 0 | 43397 |
| Huron Consulting Group Inc. | COM | 447462102 |  | 1516494 | 11895 | SH |  | SOLE |  | 1226 | 0 | 10669 |
| Hyperfine Inc | COM | 44916K106 |  | 338418 | 313350 | SH |  | SOLE |  | 0 | 0 | 313350 |
| Hyster-Yale Inc | COM | 449172105 |  | 1957980 | 60227 | SH |  | SOLE |  | 7123 | 0 | 53104 |
| Illinois Tool Works Inc. | COM | 452308109 |  | 338377 | 1300 | SH |  | SOLE |  | 0 | 0 | 1300 |
| Independent Bank Corp. | COM | 453836108 |  | 3151600 | 41904 | SH |  | SOLE |  | 5267 | 0 | 36637 |
| Ingevity Corporation | COM | 45688C107 |  | 4647045 | 65240 | SH |  | SOLE |  | 7723 | 0 | 57517 |
| Innovative Solutio | COM | 45769N105 |  | 3391002 | 165173 | SH |  | SOLE |  | 23158 | 0 | 142015 |
| Insteel Industries Inc. | COM | 45774W108 |  | 3325945 | 98957 | SH |  | SOLE |  | 12940 | 0 | 86017 |
| Intel Corporation | COM | 458140100 |  | 1244069 | 28191 | SH |  | SOLE |  | 0 | 0 | 28191 |
| Interface Inc. | COM | 458665304 |  | 3867385 | 155192 | SH |  | SOLE |  | 19518 | 0 | 135674 |
| International Business Machines Corp. | COM | 459200101 |  | 529137 | 2183 | SH |  | SOLE |  | 0 | 0 | 2183 |
| Iradimed Corp. | COM | 46266A109 |  | 2473208 | 25693 | SH |  | SOLE |  | 3239 | 0 | 22454 |
| Ishares Silver Trust | ISHARES | 46428Q109 |  | 981897 | 14410 | SH |  | SOLE |  | 0 | 0 | 14410 |
| iShares Trust | CORE S SCP ETF | 464287804 |  | 231092 | 1859 | SH |  | SOLE |  | 0 | 0 | 1859 |
| iShares Trust | RUS 1000 ETF | 464287622 |  | 283465 | 795 | SH |  | SOLE |  | 0 | 0 | 795 |
| iShares Trust | RUSSELL 2000 ETF | 464287655 |  | 212288 | 856 | SH |  | SOLE |  | 0 | 0 | 856 |
| iShares Trust A Rate Cp Bd ETF | A RATE CP BD ETF | 46429B291 |  | 2854258 | 59976 | SH |  | SOLE |  | 0 | 0 | 59976 |
| iShares Trust Core MSCI EAFE | CORE MSCI EAFE | 46432F842 |  | 46245259 | 510828 | SH |  | SOLE |  | 3648 | 0 | 507180 |
| iShares Trust Core MSCI Total | CORE MSCI TOTAL | 46432F834 |  | 2275467 | 26263 | SH |  | SOLE |  | 657 | 0 | 25606 |
| iShares Trust Core US Agg Bd ETF | CORE US AGGBD ET | 464287226 |  | 664513 | 6694 | SH |  | SOLE |  | 0 | 0 | 6694 |
| iShares Trust Intrm Gov Cr ETF | INTRM GOV CR ETF | 464288612 |  | 6143926 | 57592 | SH |  | SOLE |  | 157 | 0 | 57435 |
| iShares Trust MSCI ACW Ex US | MSCI ACWI EX US | 464288240 |  | 474976 | 6937 | SH |  | SOLE |  | 0 | 0 | 6937 |
| iShares Shrt Term Ntnl Mun Bnd ETF IV | SHRT NAT MUN ETF | 464288158 |  | 369768 | 3472 | SH |  | SOLE |  | 0 | 0 | 3472 |
| Jacobs Solutions Inc. | COM | 46982L108 |  | 286253 | 2249 | SH |  | SOLE |  | 0 | 0 | 2249 |
| Janus International Group Inc | COM | 47103N106 |  | 2281455 | 443001 | SH |  | SOLE |  | 51681 | 0 | 391320 |
| Jazz Pharmaceuticals PLC | COM | G50871105 |  | 410239 | 2170 | SH |  | SOLE |  | 0 | 0 | 2170 |
| Johnson  Johnson | COM | 478160104 |  | 19954371 | 81633 | SH |  | SOLE |  | 1292 | 0 | 80341 |
| JPMorgan Chase  Co. | COM | 46625H100 |  | 1033384 | 3513 | SH |  | SOLE |  | 0 | 0 | 3513 |
| Kimberly-Clark Corporation | COM | 494368103 |  | 265100 | 2748 | SH |  | SOLE |  | 0 | 0 | 2748 |
| Kimberly-Clark Corporation | COM | 494368103 |  | 659469 | 6836 | SH |  | SOLE |  | 0 | 0 | 6836 |
| Kinsale Capital Group Inc | COM | 49714P108 |  | 8828836 | 25841 | SH |  | SOLE |  | 323 | 0 | 25518 |
| Korn Ferry | COM | 500643200 |  | 2866114 | 45530 | SH |  | SOLE |  | 5713 | 0 | 39817 |
| Lam Research Corporation | COM | 512807306 |  | 299124 | 1400 | SH |  | SOLE |  | 0 | 0 | 1400 |
| Lantheus Holdings Inc | COM | 516544103 |  | 3275582 | 43185 | SH |  | SOLE |  | 5246 | 0 | 37939 |
| Ligand Pharmaceuticals Incorporated | COM | 53220K504 |  | 4803379 | 24059 | SH |  | SOLE |  | 3095 | 0 | 20964 |
| Limbach Holdings Inc. | COM | 53263P105 |  | 3158996 | 40474 | SH |  | SOLE |  | 5470 | 0 | 35004 |
| Lockheed Martin Corporation | COM | 539830109 |  | 14383878 | 23799 | SH |  | SOLE |  | 355 | 0 | 23444 |
| Lowes Companies Inc. | COM | 548661107 |  | 12238831 | 51798 | SH |  | SOLE |  | 756 | 0 | 51042 |
| Magnolia Oil  Gas Corporation | COM | 559663109 |  | 303356 | 9609 | SH |  | SOLE |  | 0 | 0 | 9609 |
| Markel Group Inc | COM | 570535104 |  | 325392 | 170 | SH |  | SOLE |  | 0 | 0 | 170 |
| Mativ Holdings Inc | COM | 808541106 |  | 332462 | 38214 | SH |  | SOLE |  | 225 | 0 | 37989 |
| McDonald's Corp. | COM | 580135101 |  | 13477719 | 43366 | SH |  | SOLE |  | 565 | 0 | 42801 |
| Mckesson Corp. | COM | 58155Q103 |  | 835072 | 965 | SH |  | SOLE |  | 0 | 0 | 965 |
| Merck  Co. Inc | COM | 58933Y105 |  | 1551380 | 12897 | SH |  | SOLE |  | 0 | 0 | 12897 |
| Meta Platforms Inc | COM | 30303M102 |  | 1304456 | 2280 | SH |  | SOLE |  | 0 | 0 | 2280 |
| Microsoft Corp. | COM | 594918104 |  | 17542758 | 47391 | SH |  | SOLE |  | 494 | 0 | 46897 |
| Miller Industries Inc. (Tennessee) | COM | 600551204 |  | 3303104 | 72516 | SH |  | SOLE |  | 9340 | 0 | 63176 |
| MiMedx Group Inc. | COM | 602496101 |  | 1904402 | 482127 | SH |  | SOLE |  | 57768 | 0 | 424359 |
| Minerals Technologies Inc. | COM | 603158106 |  | 3375508 | 47596 | SH |  | SOLE |  | 5780 | 0 | 41816 |
| Mueller Industries Inc. | COM | 624756102 |  | 4495378 | 40572 | SH |  | SOLE |  | 5104 | 0 | 35468 |
| NAPCO Security Technologies Inc. | COM | 630402105 |  | 4556202 | 115669 | SH |  | SOLE |  | 14408 | 0 | 101261 |
| NextEra Energy Inc | COM | 65339F101 |  | 564153 | 6074 | SH |  | SOLE |  | 0 | 0 | 6074 |
| NMI Holdings Inc | COM | 629209305 |  | 825220 | 22000 | SH |  | SOLE |  | 0 | 0 | 22000 |
| Nordson Corp | COM | 655663102 |  | 377805 | 1420 | SH |  | SOLE |  | 0 | 0 | 1420 |
| Northern Oil And Gas Inc. | COM | 665531307 |  | 2407325 | 82358 | SH |  | SOLE |  | 11756 | 0 | 70602 |
| Northrop Grumman Corporation | COM | 666807102 |  | 307008 | 450 | SH |  | SOLE |  | 0 | 0 | 450 |
| NVE Corp. | COM | 629445206 |  | 3281747 | 50103 | SH |  | SOLE |  | 6129 | 0 | 43974 |
| NVIDIA Corp. | COM | 67066G104 |  | 305026 | 1749 | SH |  | SOLE |  | 0 | 0 | 1749 |
| O'Reilly Automotive Inc. | COM | 67103H107 |  | 325393 | 3525 | SH |  | SOLE |  | 0 | 0 | 3525 |
| Oceaneering International Inc. | COM | 675232102 |  | 3418031 | 96364 | SH |  | SOLE |  | 11557 | 0 | 84807 |
| OmniAb Inc. | COM | 68218J103 |  | 1187978 | 756674 | SH |  | SOLE |  | 70658 | 0 | 686016 |
| Option Care Health Inc | COM | 68404L201 |  | 3174218 | 117913 | SH |  | SOLE |  | 13550 | 0 | 104363 |
| Otc Markets Group Inc | COM | 67106F108 |  | 645893 | 12066 | SH |  | SOLE |  | 62 | 0 | 12004 |
| Ovintiv Inc | COM | 69047Q102 |  | 305823 | 5152 | SH |  | SOLE |  | 0 | 0 | 5152 |
| Paccar Inc | COM | 693718108 |  | 7007501 | 60671 | SH |  | SOLE |  | 838 | 0 | 59833 |
| Papa John's International Inc. | COM | 698813102 |  | 1169969 | 36099 | SH |  | SOLE |  | 4736 | 0 | 31363 |
| Paychex Inc | COM | 704326107 |  | 11559862 | 125487 | SH |  | SOLE |  | 1724 | 0 | 123763 |
| Payoneer Global Inc. | COM | 70451X104 |  | 2632814 | 545096 | SH |  | SOLE |  | 69430 | 0 | 475666 |
| Paypal Holdings Inc. | COM | 70450Y103 |  | 10474680 | 231587 | SH |  | SOLE |  | 2769 | 0 | 228818 |
| Phillips 66 | COM | 718546104 |  | 202220 | 1110 | SH |  | SOLE |  | 0 | 0 | 1110 |
| Photronics Inc. | COM | 719405102 |  | 3702081 | 91613 | SH |  | SOLE |  | 11922 | 0 | 79691 |
| Plexus Corp | COM | 729132100 |  | 2650236 | 13085 | SH |  | SOLE |  | 1649 | 0 | 11436 |
| PNC Financial Services Group Inc. | COM | 693475105 |  | 14293910 | 68691 | SH |  | SOLE |  | 909 | 0 | 67782 |
| Public Storage | COM | 74460D109 |  | 11803867 | 43576 | SH |  | SOLE |  | 671 | 0 | 42905 |
| RBB Fund Inc | COM | 74933W601 |  | 248019 | 3760 | SH |  | SOLE |  | 0 | 0 | 3760 |
| Rexford Industrial Realty Inc. | COM | 76169C100 |  | 353091 | 10788 | SH |  | SOLE |  | 0 | 0 | 10788 |
| Reynolds Consumer Products Inc. | COM | 76171L106 |  | 2396835 | 113165 | SH |  | SOLE |  | 16210 | 0 | 96955 |
| RLI Corp | COM | 749607107 |  | 3110790 | 54537 | SH |  | SOLE |  | 6449 | 0 | 48088 |
| Rockwell Automation Inc. | COM | 773903109 |  | 14103984 | 39300 | SH |  | SOLE |  | 603 | 0 | 38697 |
| RTX Corp. | COM | 75513E101 |  | 224921 | 1166 | SH |  | SOLE |  | 0 | 0 | 1166 |
| S Global Inc | COM | 78409V104 |  | 247548 | 582 | SH |  | SOLE |  | 0 | 0 | 582 |
| Salesforce Inc. | COM | 79466L302 |  | 239498 | 1283 | SH |  | SOLE |  | 0 | 0 | 1283 |
| SLB Ltd. | COM | 806857108 |  | 14723954 | 286514 | SH |  | SOLE |  | 3853 | 0 | 282661 |
| Snap-On Incorporated | COM | 833034101 |  | 395183 | 1088 | SH |  | SOLE |  | 0 | 0 | 1088 |
| Spdr Gold Trust | COM | 78463V107 |  | 2581740 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| Spdr Index Shares Funds State Street Spdr Portfolio Emerging Markets ETF | PORTFOLIO EMG MK | 78463X509 |  | 16290858 | 347279 | SH |  | SOLE |  | 2506 | 0 | 344773 |
| SPDR Series Trust | PORTFOLI S | 78464A805 |  | 7517297 | 95083 | SH |  | SOLE |  | 2784 | 0 | 92299 |
| Sprouts Farmers Markets Inc | COM | 85208M102 |  | 3717049 | 48192 | SH |  | SOLE |  | 5683 | 0 | 42509 |
| State Street Spdr S 500 Etf Trust | TR UNIT | 78462F103 |  | 1178416 | 1812 | SH |  | SOLE |  | 0 | 0 | 1812 |
| State Street Spdr S Midcap 400 Etf Trust | UTSER1 S | 78467Y107 |  | 452085 | 733 | SH |  | SOLE |  | 0 | 0 | 733 |
| Stride Inc | COM | 86333M108 |  | 427360 | 4847 | SH |  | SOLE |  | 0 | 0 | 4847 |
| Sysco Corporation | COM | 871829107 |  | 11750762 | 164738 | SH |  | SOLE |  | 2485 | 0 | 162253 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | SPONSORED ADS | 874039100 |  | 272726 | 807 | SH |  | SOLE |  | 0 | 0 | 807 |
| Tennant Co | COM | 880345103 |  | 398400 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| Tetra Tech Inc | COM | 88162G103 |  | 2978145 | 98876 | SH |  | SOLE |  | 11368 | 0 | 87508 |
| The Bank of New York Mellon Corp. | COM | 064058100 |  | 16991494 | 143231 | SH |  | SOLE |  | 2205 | 0 | 141026 |
| The Lovesac Company | COM | 54738L109 |  | 3547547 | 240186 | SH |  | SOLE |  | 28088 | 0 | 212098 |
| The Procter  Gamble Co. | COM | 742718109 |  | 15495090 | 107277 | SH |  | SOLE |  | 1341 | 0 | 105936 |
| Thermo Fisher Scientific Inc | COM | 883556102 |  | 501361 | 1020 | SH |  | SOLE |  | 0 | 0 | 1020 |
| Tmc The Metals Company Inc | COM | 87261Y106 |  | 105990 | 22696 | SH |  | SOLE |  | 0 | 0 | 22696 |
| Trane Technologies PLC | COM | G8994E103 |  | 16324956 | 39173 | SH |  | SOLE |  | 502 | 0 | 38671 |
| Transdigm Group Inc. | COM | 893641100 |  | 216726 | 187 | SH |  | SOLE |  | 0 | 0 | 187 |
| Twist Bioscience Corporation | COM | 90184D100 |  | 434570 | 9145 | SH |  | SOLE |  | 0 | 0 | 9145 |
| U.S. Bancorp. | COM | 902973304 |  | 657718 | 12646 | SH |  | SOLE |  | 0 | 0 | 12646 |
| UFP Technologies Inc. | COM | 902673102 |  | 1679480 | 8675 | SH |  | SOLE |  | 983 | 0 | 7692 |
| Union Pacific Corporation | COM | 907818108 |  | 963201 | 3970 | SH |  | SOLE |  | 0 | 0 | 3970 |
| United Parcel Service Inc. | COM | 911312106 |  | 12661211 | 128697 | SH |  | SOLE |  | 1958 | 0 | 126739 |
| United Rentals Inc. | COM | 911363109 |  | 307452 | 422 | SH |  | SOLE |  | 0 | 0 | 422 |
| United States Commodity Index Funds Trust | COM | 911718104 |  | 440704 | 12800 | SH |  | SOLE |  | 0 | 0 | 12800 |
| Universal Technical Institute Inc. | COM | 913915104 |  | 3509317 | 97211 | SH |  | SOLE |  | 11559 | 0 | 85652 |
| Vail Resorts Inc. | COM | 91879Q109 |  | 373924 | 2914 | SH |  | SOLE |  | 0 | 0 | 2914 |
| Valvoline Inc | COM | 92047W101 |  | 363441 | 10791 | SH |  | SOLE |  | 0 | 0 | 10791 |
| Vanguard Specialized Funds | COM | 921908844 |  | 260438 | 1211 | SH |  | SOLE |  | 0 | 0 | 1211 |
| Veralto Corp. | COM | 92338C103 |  | 11546149 | 130583 | SH |  | SOLE |  | 1831 | 0 | 128752 |
| Visa Inc | COM | 92826C839 |  | 18500413 | 61211 | SH |  | SOLE |  | 830 | 0 | 60381 |
| W.R. Berkley Corporation | COM | 084423102 |  | 13555586 | 204520 | SH |  | SOLE |  | 2540 | 0 | 201980 |
| W.w. Grainger Inc. | COM | 384802104 |  | 15330244 | 14054 | SH |  | SOLE |  | 175 | 0 | 13879 |
| Walmart Inc | COM | 931142103 |  | 260491 | 2096 | SH |  | SOLE |  | 0 | 0 | 2096 |
| WEC Energy Group Inc. | COM | 92939U106 |  | 246474 | 2129 | SH |  | SOLE |  | 0 | 0 | 2129 |
| Wesco International Inc. | COM | 95082P105 |  | 388267 | 1419 | SH |  | SOLE |  | 0 | 0 | 1419 |
| WEX Inc | COM | 96208T104 |  | 390099 | 2549 | SH |  | SOLE |  | 0 | 0 | 2549 |
| Zebra Technologies Corporation | COM | 989207105 |  | 11632166 | 55635 | SH |  | SOLE |  | 759 | 0 | 54876 |
| Zoetis Inc Class A | COM | 98978V103 |  | 12008245 | 101584 | SH |  | SOLE |  | 1482 | 0 | 100102 |

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