# EDGAR Filing Document

**Accession Number:** 0001112325
**File Stem:** 0001112325-26-000001
**Filing Date:** 2026-1
**Character Count:** 23169
**Document Hash:** 7900ff5fc7c1d0d1738784d9f18d0de9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001112325-26-000001.hdr.sgml**: 20260113

**ACCESSION NUMBER**: 0001112325-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260113

**DATE AS OF CHANGE**: 20260113

**EFFECTIVENESS DATE**: 20260113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RIVERBRIDGE PARTNERS LLC
- **CENTRAL INDEX KEY:** 0001112325

**ORGANIZATION NAME:**
- **EIN:** 411930193
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05655
- **FILM NUMBER:** 26529075

**BUSINESS ADDRESS:**
- **STREET 1:** 80 SOUTH 8TH STREET, SUITE 1500
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 55402

**MAIL ADDRESS:**
- **STREET 1:** 80 SOUTH 8TH STREET, SUITE 1500
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** RIVERBRIDGE PARTNERS LLC<br>**Address:** 80 SOUTH 8TH STREET SUITE 1500<br>MINNEAPOLIS, MN 55402

**Form 13F File Number:** 028-05655

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:** Lois Beckmen<br>**Title:** Compliance Associate<br>**Phone:** 612-904-6201

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

Lois Beckmen  Minneapolis, MN  01-13-2026<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:** 188

**Form 13F Information Table Value Total:** $5334234529

      (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 | 000360206 |  | 27020716 | 354370 | SH |  | SOLE |  | 306522 | 0 | 47848 |
| Abbott Laboratories | COM | 002824100 |  | 1319053 | 10528 | SH |  | SOLE |  | 10528 | 0 | 0 |
| Accenture Plc | COM | G1151C101 |  | 567455 | 2115 | SH |  | SOLE |  | 2115 | 0 | 0 |
| ACV Auctions Inc. | COM | 00091G104 |  | 25038698 | 3122032 | SH |  | SOLE |  | 2724118 | 0 | 397914 |
| ADVANCED MICRO DEVICES INC COM | COM | 007903107 |  | 221441 | 1034 | SH |  | SOLE |  | 1034 | 0 | 0 |
| Agilysys Inc. | COM | 00847J105 |  | 39473505 | 332157 | SH |  | SOLE |  | 290578 | 0 | 41579 |
| AIA Group Limited Sponsored AD | COM | 001317205 |  | 236497 | 5764 | SH |  | SOLE |  | 0 | 0 | 5764 |
| Alarm.com Holdings Inc. | COM | 011642105 |  | 36905889 | 723361 | SH |  | SOLE |  | 636002 | 0 | 87359 |
| Align Technology Inc. | COM | 016255101 |  | 11445328 | 73297 | SH |  | SOLE |  | 61240 | 0 | 12057 |
| Alkami Technology Inc. | COM | 01644J108 |  | 41182218 | 1785098 | SH |  | SOLE |  | 1629603 | 0 | 155495 |
| Allianz SE Unsponsored ADR | COM | 018820100 |  | 317538 | 6903 | SH |  | SOLE |  | 0 | 0 | 6903 |
| Alphabet Inc. Class A | COM | 02079K305 |  | 94394605 | 301580 | SH |  | SOLE |  | 299768 | 0 | 1812 |
| Alphabet Inc. Class C | COM | 02079K107 |  | 72444730 | 230863 | SH |  | SOLE |  | 229425 | 0 | 1438 |
| Amazon.com Inc. | COM | 023135106 |  | 140284613 | 607766 | SH |  | SOLE |  | 604282 | 0 | 3484 |
| Analog Devices Inc. | COM | 032654105 |  | 101527963 | 374366 | SH |  | SOLE |  | 372382 | 0 | 1984 |
| Apple Inc. | COM | 037833100 |  | 8656838 | 31843 | SH |  | SOLE |  | 31843 | 0 | 0 |
| ASML Holding NV ADR | COM | N07059210 |  | 3190323 | 2982 | SH |  | SOLE |  | 2657 | 0 | 325 |
| Barrett Business Services Inc | COM | 068463108 |  | 10701605 | 295543 | SH |  | SOLE |  | 264464 | 0 | 31078 |
| Bio-Techne Corporation | COM | 09073M104 |  | 46212174 | 785788 | SH |  | SOLE |  | 685842 | 0 | 99945 |
| BlackLine Inc. | COM | 09239B109 |  | 20612909 | 372814 | SH |  | SOLE |  | 335571 | 0 | 37243 |
| Casey's General Stores Inc. | COM | 147528103 |  | 16062106 | 29061 | SH |  | SOLE |  | 24504 | 0 | 4557 |
| CCC Intelligent Solutions Hold | COM | 12510Q100 |  | 40707816 | 5120480 | SH |  | SOLE |  | 4472048 | 0 | 648432 |
| Charles River Laboratories Int | COM | 159864107 |  | 19813931 | 99328 | SH |  | SOLE |  | 83734 | 0 | 15594 |
| Chemed Corporation | COM | 16359R103 |  | 23155193 | 54119 | SH |  | SOLE |  | 48747 | 0 | 5372 |
| Chugai Pharmaceutical Co. Ltd | COM | 171269103 |  | 205563 | 7825 | SH |  | SOLE |  | 0 | 0 | 7825 |
| Cintas Corporation | COM | 172908105 |  | 40006361 | 212721 | SH |  | SOLE |  | 211450 | 0 | 1270 |
| Clearwater Analytics Holdings | COM | 185123106 |  | 31324971 | 1298714 | SH |  | SOLE |  | 1139253 | 0 | 159461 |
| Cognex Corporation | COM | 192422103 |  | 31196930 | 867063 | SH |  | SOLE |  | 758618 | 0 | 108446 |
| Contemporary Amperex Technolog | COM | 210919106 |  | 167519 | 10392 | SH |  | SOLE |  | 0 | 0 | 10392 |
| CoStar Group Inc. | COM | 22160N109 |  | 97669164 | 1452546 | SH |  | SOLE |  | 1379837 | 0 | 72709 |
| CSW Industrials Inc. | COM | 126402106 |  | 38279959 | 130412 | SH |  | SOLE |  | 115294 | 0 | 15118 |
| Danaher Corporation | COM | 235851102 |  | 55079576 | 240606 | SH |  | SOLE |  | 239265 | 0 | 1342 |
| DBS Group Holdings Ltd Sponsor | COM | 23304Y100 |  | 358947 | 2044 | SH |  | SOLE |  | 0 | 0 | 2044 |
| Descartes Systems Group Inc. | COM | 249906108 |  | 46840721 | 534345 | SH |  | SOLE |  | 473435 | 0 | 60911 |
| Dicks Sporting Goods Inc. | COM | 253393102 |  | 1167429 | 5897 | SH |  | SOLE |  | 5897 | 0 | 0 |
| Disco Corporation Unsponsored | COM | 25461D100 |  | 242401 | 7958 | SH |  | SOLE |  | 0 | 0 | 7958 |
| DoubleVerify Holdings Inc. | COM | 25862V105 |  | 19009791 | 1661695 | SH |  | SOLE |  | 1441610 | 0 | 220085 |
| Doximity Inc. | COM | 26622P107 |  | 23405422 | 528578 | SH |  | SOLE |  | 475896 | 0 | 52682 |
| Dutch Bros Inc. | COM | 26701L100 |  | 18678565 | 305106 | SH |  | SOLE |  | 257112 | 0 | 47994 |
| Ecolab Inc. | COM | 278865100 |  | 3482065 | 13264 | SH |  | SOLE |  | 13264 | 0 | 0 |
| Ensign Group Inc. | COM | 29358P101 |  | 121332108 | 696510 | SH |  | SOLE |  | 642570 | 0 | 53940 |
| Entegris Inc. | COM | 29362U104 |  | 29062306 | 344953 | SH |  | SOLE |  | 290093 | 0 | 54860 |
| Equifax Inc. | COM | 294429105 |  | 2489195 | 11472 | SH |  | SOLE |  | 11472 | 0 | 0 |
| Exponent Inc. | COM | 30214u102 |  | 38494276 | 554193 | SH |  | SOLE |  | 491440 | 0 | 62753 |
| Fair Isaac Corporation | COM | 303250104 |  | 50549335 | 29900 | SH |  | SOLE |  | 29735 | 0 | 165 |
| Fastenal Company | COM | 311900104 |  | 95571993 | 2381560 | SH |  | SOLE |  | 2368038 | 0 | 13522 |
| First Watch Restaurant Group | COM | 33748L101 |  | 16528114 | 1096029 | SH |  | SOLE |  | 982704 | 0 | 113325 |
| Fiserv Inc. | COM | 337738108 |  | 206884 | 3080 | SH |  | SOLE |  | 3080 | 0 | 0 |
| Five Below Inc. | COM | 33829M101 |  | 153446165 | 814643 | SH |  | SOLE |  | 746467 | 0 | 68176 |
| Floor  Decor Holdings Inc. | COM | 339750101 |  | 42409514 | 696494 | SH |  | SOLE |  | 631480 | 0 | 65014 |
| Fomento Economico Mexicano SAB | COM | 344419106 |  | 234583 | 2321 | SH |  | SOLE |  | 0 | 0 | 2321 |
| Freshpet Inc. | COM | 358039105 |  | 61156058 | 1003710 | SH |  | SOLE |  | 913686 | 0 | 90024 |
| Glaukos Corporation | COM | 377322102 |  | 60425960 | 535169 | SH |  | SOLE |  | 470088 | 0 | 65081 |
| Globant S.A. | COM | L44385109 |  | 50254763 | 768774 | SH |  | SOLE |  | 706543 | 0 | 62231 |
| GoDaddy Inc. | COM | 380237107 |  | 24669557 | 198820 | SH |  | SOLE |  | 169320 | 0 | 29500 |
| Goosehead Insurance Inc. | COM | 38267D109 |  | 15495405 | 210392 | SH |  | SOLE |  | 189483 | 0 | 20909 |
| Grand Canyon Education Inc. | COM | 38526M106 |  | 141880298 | 853107 | SH |  | SOLE |  | 783717 | 0 | 69390 |
| Grid Dynamics Holdings Inc. | COM | 39813G109 |  | 15766082 | 1745967 | SH |  | SOLE |  | 1517967 | 0 | 228000 |
| Guidewire Software Inc. | COM | 40171V100 |  | 50026404 | 248875 | SH |  | SOLE |  | 234003 | 0 | 14872 |
| Haleon PLC Sponsored ADR | COM | 405552100 |  | 176692 | 17477 | SH |  | SOLE |  | 0 | 0 | 17477 |
| HDFC Bank Limited Sponsored AD | COM | 40415F101 |  | 261480 | 7156 | SH |  | SOLE |  | 0 | 0 | 7156 |
| HEICO Corporation | COM | 422806109 |  | 190764293 | 589525 | SH |  | SOLE |  | 564027 | 0 | 25498 |
| Hillman Solutions Corporation | COM | 431636109 |  | 18757581 | 2166002 | SH |  | SOLE |  | 1945253 | 0 | 220749 |
| IDEXX Laboratories Inc. | COM | 45168D104 |  | 60684213 | 89699 | SH |  | SOLE |  | 89229 | 0 | 471 |
| Inspire Medical Systems Inc. | COM | 457730109 |  | 8956530 | 97111 | SH |  | SOLE |  | 86981 | 0 | 10130 |
| Intuitive Surgical Inc. | COM | 46120E602 |  | 203890 | 360 | SH |  | SOLE |  | 360 | 0 | 0 |
| Ishares Core S 500 Etf | COM | 464287200 |  | 58167728 | 84924 | SH |  | SOLE |  | 84810 | 0 | 114 |
| iShares Core S U.S. Growth E | COM | 464287671 |  | 614650 | 3660 | SH |  | SOLE |  | 3660 | 0 | 0 |
| iShares MSCI USA ESG Select ET | COM | 464288802 |  | 1150990 | 8260 | SH |  | SOLE |  | 8228 | 0 | 32 |
| Ishares Tr Russell 1000 | COM | 464287622 |  | 739411 | 1980 | SH |  | SOLE |  | 1980 | 0 | 0 |
| Ishares Tr Russell 1000 Growth | COM | 464287614 |  | 370461 | 783 | SH |  | SOLE |  | 783 | 0 | 0 |
| Ishares Tr Russell 2000 | COM | 464287655 |  | 23900905 | 97095 | SH |  | SOLE |  | 96824 | 0 | 271 |
| Ishares Tr Russell 2000 Growth | COM | 464287648 |  | 5031223 | 15576 | SH |  | SOLE |  | 15576 | 0 | 0 |
| Jack Henry  Associates Inc. | COM | 426281101 |  | 16383913 | 89785 | SH |  | SOLE |  | 77914 | 0 | 11871 |
| Johnson  Johnson | COM | 478160104 |  | 2072397 | 10014 | SH |  | SOLE |  | 10014 | 0 | 0 |
| Kadant Inc. | COM | 48282T104 |  | 50124817 | 175864 | SH |  | SOLE |  | 155080 | 0 | 20784 |
| Kinsale Capital Group Inc. | COM | 49714P108 |  | 104997303 | 268453 | SH |  | SOLE |  | 246210 | 0 | 22243 |
| Lasertec Corp. Unsponsored ADR | COM | 51809L109 |  | 205987 | 5425 | SH |  | SOLE |  | 0 | 0 | 5425 |
| Linde Plc | COM | g54950103 |  | 4117648 | 9657 | SH |  | SOLE |  | 9657 | 0 | 0 |
| Loar Holdings Inc. | COM | 53947R105 |  | 18839326 | 277049 | SH |  | SOLE |  | 249234 | 0 | 27815 |
| Medpace Holdings Inc. | COM | 58506Q109 |  | 153313207 | 272969 | SH |  | SOLE |  | 251299 | 0 | 21671 |
| Microsoft Corporation | COM | 594918104 |  | 238503129 | 493162 | SH |  | SOLE |  | 490419 | 0 | 2744 |
| Motorola Solutions Inc. | COM | 620076307 |  | 27689118 | 72235 | SH |  | SOLE |  | 71882 | 0 | 353 |
| Netflix Inc. | COM | 64110L106 |  | 47261647 | 504070 | SH |  | SOLE |  | 501391 | 0 | 2680 |
| NVIDIA Corporation | COM | 67066G104 |  | 284781728 | 1526980 | SH |  | SOLE |  | 1517950 | 0 | 9029 |
| Option Care Health Inc. | COM | 68404L201 |  | 40224925 | 1262553 | SH |  | SOLE |  | 1101876 | 0 | 160677 |
| Oracle Corporation | COM | 68389X105 |  | 2479645 | 12722 | SH |  | SOLE |  | 12722 | 0 | 0 |
| OrthoPediatrics Corporation | COM | 68752l100 |  | 4764391 | 268265 | SH |  | SOLE |  | 239909 | 0 | 28356 |
| Paychex Inc. | COM | 704326107 |  | 1692572 | 15088 | SH |  | SOLE |  | 15088 | 0 | 0 |
| Paycom Software Inc. | COM | 70432V102 |  | 56925040 | 357210 | SH |  | SOLE |  | 330494 | 0 | 26716 |
| Paylocity Holding Corporation | COM | 70438V106 |  | 75253118 | 493463 | SH |  | SOLE |  | 441677 | 0 | 51786 |
| Pennant Group Inc. | COM | 70805E109 |  | 19832658 | 704535 | SH |  | SOLE |  | 634142 | 0 | 70393 |
| Phreesia Inc. | COM | 71944F106 |  | 7767072 | 459047 | SH |  | SOLE |  | 411105 | 0 | 47942 |
| Power Integrations Inc. | COM | 739276103 |  | 12708882 | 357594 | SH |  | SOLE |  | 321895 | 0 | 35699 |
| Privia Health Group Inc. | COM | 74276R102 |  | 108676918 | 4583590 | SH |  | SOLE |  | 4193711 | 0 | 389878 |
| Procter  Gamble Company | COM | 742718109 |  | 2053202 | 14327 | SH |  | SOLE |  | 14327 | 0 | 0 |
| RB Global Inc. | COM | 74935Q107 |  | 154445480 | 1501366 | SH |  | SOLE |  | 1396845 | 0 | 104521 |
| Repligen Corporation | COM | 759916109 |  | 51347920 | 313365 | SH |  | SOLE |  | 275948 | 0 | 37417 |
| Roche Holding Ltd ADR | COM | 771195104 |  | 363414 | 7047 | SH |  | SOLE |  | 3091 | 0 | 3956 |
| Rockwell Automation Com | COM | 773903109 |  | 2633615 | 6769 | SH |  | SOLE |  | 6769 | 0 | 0 |
| Rollins Inc. | COM | 775711104 |  | 92773673 | 1545713 | SH |  | SOLE |  | 1445821 | 0 | 99892 |
| S Global Inc. | COM | 78409V104 |  | 80996537 | 154991 | SH |  | SOLE |  | 154145 | 0 | 845 |
| Salesforce Inc. | COM | 79466L302 |  | 47271552 | 178444 | SH |  | SOLE |  | 177427 | 0 | 1017 |
| SAP SE ADR | COM | 803054204 |  | 32669124 | 134491 | SH |  | SOLE |  | 133714 | 0 | 777 |
| SCHNEIDER ELECTRIC SA ADR | COM | 80687P106 |  | 248634 | 4526 | SH |  | SOLE |  | 0 | 0 | 4526 |
| ServiceNow Inc. | COM | 81762P102 |  | 72587842 | 473842 | SH |  | SOLE |  | 471081 | 0 | 2761 |
| Shell PLC Sponsored ADR | COM | 780259305 |  | 240867 | 3278 | SH |  | SOLE |  | 0 | 0 | 3278 |
| Simpson Manufacturing Company | COM | 829073105 |  | 36191250 | 224136 | SH |  | SOLE |  | 195436 | 0 | 28700 |
| Snap-on Inc. | COM | 833034101 |  | 2893606 | 8397 | SH |  | SOLE |  | 8397 | 0 | 0 |
| SPS Commerce Inc. | COM | 78463M107 |  | 42855881 | 480824 | SH |  | SOLE |  | 419641 | 0 | 61184 |
| Starbucks Corporation | COM | 855244109 |  | 38018865 | 451477 | SH |  | SOLE |  | 448927 | 0 | 2550 |
| Stevanato Group SpA | COM | T9224W109 |  | 14389003 | 715159 | SH |  | SOLE |  | 641530 | 0 | 73629 |
| Stryker Corp Com | COM | 863667101 |  | 421764 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| Synopsys Inc. | COM | 871607107 |  | 19111545 | 40687 | SH |  | SOLE |  | 40399 | 0 | 288 |
| Taiwan Semiconductor Manufactu | COM | 874039100 |  | 3568580 | 11743 | SH |  | SOLE |  | 10465 | 0 | 1278 |
| Tencent Holdings Ltd. Unsponso | COM | 88032Q109 |  | 323883 | 4231 | SH |  | SOLE |  | 0 | 0 | 4231 |
| Tesla Inc. | COM | 88160R101 |  | 59785296 | 132939 | SH |  | SOLE |  | 132207 | 0 | 732 |
| TJX Companies Inc. | COM | 872540109 |  | 3620588 | 23570 | SH |  | SOLE |  | 23570 | 0 | 0 |
| Toast Inc. | COM | 888787108 |  | 26811882 | 755052 | SH |  | SOLE |  | 636952 | 0 | 118099 |
| Tractor Supply Company | COM | 892356106 |  | 1766103 | 35315 | SH |  | SOLE |  | 35315 | 0 | 0 |
| Trade Desk Inc. | COM | 88339J105 |  | 8468996 | 223103 | SH |  | SOLE |  | 221574 | 0 | 1529 |
| Transcat Inc. | COM | 893529107 |  | 19146678 | 337505 | SH |  | SOLE |  | 295437 | 0 | 42069 |
| TWFG Inc. | COM | 87318A101 |  | 17082018 | 593744 | SH |  | SOLE |  | 533247 | 0 | 60497 |
| Tyler Technologies Inc. | COM | 902252105 |  | 108376177 | 238740 | SH |  | SOLE |  | 225455 | 0 | 13285 |
| UnitedHealth Group Inc. | COM | 91324P102 |  | 40910713 | 123931 | SH |  | SOLE |  | 123233 | 0 | 698 |
| VANGUARD INDEX FDS EXTEND MKT | COM | 922908652 |  | 10989438 | 52551 | SH |  | SOLE |  | 51785 | 0 | 765 |
| Vanguard Index Fds Stk Mrk Etf | COM | 922908769 |  | 442349 | 1319 | SH |  | SOLE |  | 1319 | 0 | 0 |
| Vanguard S 500 Index Fund | COM | 922908363 |  | 4549828 | 7255 | SH |  | SOLE |  | 7255 | 0 | 0 |
| Vanguard Total International S | COM | 921909768 |  | 1259244 | 16692 | SH |  | SOLE |  | 0 | 0 | 16692 |
| Veeva Systems Inc. | COM | 922475108 |  | 73697869 | 330143 | SH |  | SOLE |  | 328212 | 0 | 1931 |
| Verisk Analytics Inc. | COM | 92345Y106 |  | 73555133 | 328826 | SH |  | SOLE |  | 317567 | 0 | 11259 |
| Visa Inc. | COM | 92826C839 |  | 53628069 | 152913 | SH |  | SOLE |  | 152158 | 0 | 755 |
| Walmart Inc. | COM | 931142103 |  | 3691570 | 33135 | SH |  | SOLE |  | 33135 | 0 | 0 |
| Watsco Inc. | COM | 942622200 |  | 23387802 | 69410 | SH |  | SOLE |  | 60295 | 0 | 9115 |
| West Pharmaceutical Services | COM | 955306105 |  | 87663248 | 318613 | SH |  | SOLE |  | 299438 | 0 | 19175 |
| WillScot Holdings Corporation | COM | 971378104 |  | 13486455 | 716222 | SH |  | SOLE |  | 645214 | 0 | 71008 |
| Workday Inc. Class A | COM | 98138H101 |  | 857831 | 3994 | SH |  | SOLE |  | 3994 | 0 | 0 |
| Workiva Inc. | COM | 98139A105 |  | 99483093 | 1153427 | SH |  | SOLE |  | 1054524 | 0 | 98903 |
| Fidelity 500 Index Fund Inst | COM | 315911750 |  | 1537476 | 6468 | SH |  | SOLE |  | 6468 | 0 | 0 |
| Riverbridge Growth Fund - Inst | COM | 46141P404 |  | 24184214 | 832503 | SH |  | SOLE |  | 832503 | 0 | 0 |
| Vanguard Index Tr 500 Index Ad | COM | 922908710 |  | 4540081 | 7185 | SH |  | SOLE |  | 3647 | 0 | 3539 |
| Ishares Tr Msci Eafe Idx | INTL | 464287465 |  | 1598611 | 16647 | SH |  | SOLE |  | 16647 | 0 | 0 |
| Vanguard Intl Eqty Idx Emr Mkt | INTL | 922042858 |  | 1339000 | 24907 | SH |  | SOLE |  | 24907 | 0 | 0 |
| Angel Oak Mortgage REIT Inc. | REIT | 03464Y108 |  | 1573652 | 182770 | SH |  | SOLE |  | 182770 | 0 | 0 |
| Seven Hills Realty Trust | REIT | 81784E101 |  | 1997255 | 224411 | SH |  | SOLE |  | 224411 | 0 | 0 |
| Vanguard Index Fds Reit Etf | REIT | 922908553 |  | 512446 | 5791 | SH |  | SOLE |  | 5791 | 0 | 0 |
| Ares Capital Corporation | BDC | 04010L103 |  | 2060441 | 101851 | SH |  | SOLE |  | 101851 | 0 | 0 |
| Crescent Capital BDC Inc. | BDC | 225655109 |  | 1325730 | 94358 | SH |  | SOLE |  | 94358 | 0 | 0 |
| Fidus Investment Corporation | BDC | 316500107 |  | 1960450 | 101578 | SH |  | SOLE |  | 101578 | 0 | 0 |
| Golub Capital BDC Inc. | BDC | 38173M102 |  | 1337043 | 98529 | SH |  | SOLE |  | 98529 | 0 | 0 |
| MSC Income Fund Inc. | BDC | 55374X208 |  | 1389069 | 105713 | SH |  | SOLE |  | 105713 | 0 | 0 |
| Sixth Street Specialty Lending | BDC | 83012A109 |  | 1953458 | 89938 | SH |  | SOLE |  | 89938 | 0 | 0 |
| Angel Oak Financial Strategies | CEF | 03464A100 |  | 2846888 | 215510 | SH |  | SOLE |  | 215510 | 0 | 0 |
| Blackrock Income Trust | CEF | 09247F209 |  | 1154364 | 104562 | SH |  | SOLE |  | 104562 | 0 | 0 |
| BlackRock Multi-Sector Inc. | CEF | 09258A107 |  | 635630 | 48670 | SH |  | SOLE |  | 48670 | 0 | 0 |
| Blackrock Taxable Municipal Bo | CEF | 09248X100 |  | 926522 | 56772 | SH |  | SOLE |  | 56772 | 0 | 0 |
| BNY Mellon Strategic Municipal | CEF | 05588W108 |  | 2046755 | 321817 | SH |  | SOLE |  | 321817 | 0 | 0 |
| Brookfield Real Assets Income | CEF | 112830104 |  | 2868144 | 221307 | SH |  | SOLE |  | 221307 | 0 | 0 |
| FS Credit Opportunities Corp | CEF | 30290Y101 |  | 1328317 | 210844 | SH |  | SOLE |  | 210844 | 0 | 0 |
| FS Specialty Lending Fund | CEF | 644323107 |  | 2070421 | 146423 | SH |  | SOLE |  | 146423 | 0 | 0 |
| Invesco Bond Fund | CEF | 46132L107 |  | 472115 | 30637 | SH |  | SOLE |  | 30637 | 0 | 0 |
| John Hancock Income Securities | CEF | 410123103 |  | 2260672 | 193055 | SH |  | SOLE |  | 193055 | 0 | 0 |
| John Hancock Investors Trust | CEF | 410142103 |  | 627558 | 45908 | SH |  | SOLE |  | 45908 | 0 | 0 |
| MFS Charter Income Trust | CEF | 552727109 |  | 1212214 | 193336 | SH |  | SOLE |  | 193336 | 0 | 0 |
| MFS High Income Municipal Trus | CEF | 59318D104 |  | 319258 | 86286 | SH |  | SOLE |  | 86286 | 0 | 0 |
| Nuveen Taxable Municipal Incom | CEF | 67074C103 |  | 2130558 | 134845 | SH |  | SOLE |  | 134845 | 0 | 0 |
| PGIM Short Duration High Yield | CEF | 69355J104 |  | 2493689 | 151592 | SH |  | SOLE |  | 151592 | 0 | 0 |
| Principal Real Estate Income F | CEF | 74255X104 |  | 1873912 | 187204 | SH |  | SOLE |  | 187204 | 0 | 0 |
| Putnam Premier Income Trust | CEF | 746853100 |  | 2157369 | 609426 | SH |  | SOLE |  | 609426 | 0 | 0 |
| RiverNorth/DoubleLine Strategi | CEF | 76882G107 |  | 1781641 | 224106 | SH |  | SOLE |  | 224106 | 0 | 0 |
| TCW Strategic Income Fund | CEF | 872340104 |  | 1032421 | 208992 | SH |  | SOLE |  | 208992 | 0 | 0 |
| Western Asset Inflation-Linked | CEF | 95766R104 |  | 2024058 | 235630 | SH |  | SOLE |  | 235630 | 0 | 0 |
| abrdn National Municipal Incom | NCEF | 24610T108 |  | 1798808 | 175152 | SH |  | SOLE |  | 175152 | 0 | 0 |
| AllianceBernstein National Mun | NCEF | 01864U106 |  | 1502734 | 138885 | SH |  | SOLE |  | 138885 | 0 | 0 |
| BlackRock MuniHoldings Fund In | NCEF | 09253N104 |  | 679451 | 57875 | SH |  | SOLE |  | 57875 | 0 | 0 |
| BlackRock MuniHoldings Quality | NCEF | 09254C107 |  | 474450 | 47303 | SH |  | SOLE |  | 47303 | 0 | 0 |
| BlackRock MuniVest Fund II In | NCEF | 09253T101 |  | 411511 | 38068 | SH |  | SOLE |  | 38068 | 0 | 0 |
| BlackRock MuniVest Fund Inc. | NCEF | 09253R105 |  | 274761 | 39648 | SH |  | SOLE |  | 39648 | 0 | 0 |
| BNY Mellon Municipal Bond Infr | NCEF | 09662W109 |  | 3131197 | 284913 | SH |  | SOLE |  | 284913 | 0 | 0 |
| BNY Mellon Strategic Municipal | NCEF | 09662E109 |  | 1465620 | 237540 | SH |  | SOLE |  | 237540 | 0 | 0 |
| Federated Premier Municipal In | NCEF | 31423P108 |  | 1396512 | 125699 | SH |  | SOLE |  | 125699 | 0 | 0 |
| MFS Municipal Income Trust | NCEF | 552738106 |  | 889040 | 163727 | SH |  | SOLE |  | 163727 | 0 | 0 |
| Neuberger Berman Municipal Fun | NCEF | 64124P101 |  | 670433 | 66248 | SH |  | SOLE |  | 66248 | 0 | 0 |
| PIMCO California Municipal Inc | NCEF | 72200N106 |  | 1275602 | 146117 | SH |  | SOLE |  | 146117 | 0 | 0 |
| PIMCO New York Municipal Incom | NCEF | 72200Y102 |  | 1395773 | 202579 | SH |  | SOLE |  | 202579 | 0 | 0 |
| Putnam Municipal Opportunities | NCEF | 746922103 |  | 1265066 | 118230 | SH |  | SOLE |  | 118230 | 0 | 0 |
| RiverNorth Flexible Municipal | NCEF | 76883Y107 |  | 2648617 | 209211 | SH |  | SOLE |  | 209211 | 0 | 0 |
| Western Asset Intermediate Mun | NCEF | 958435109 |  | 313889 | 40871 | SH |  | SOLE |  | 40871 | 0 | 0 |

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