On September 11 and 12, 2023, we performed our third quarter re-balance of the Crabtree Technology portfolio.We first sold thirteen positions, including Civeo (CVEO), Euronet Worldwide (EEFT), Harmonic (HLIT), International Money Express (IMXI), The Interpublic Group (IPG), Juniper Networks (JNPR), Methode Electronics (MEI), Omincom Group (OMC), Pfizer (PFE), Perficient (PRFT), ProPhase (PRPH), Vertex Pharmaceutical (VRTX) and Vishay Intertechnology (VSH). Replacing our sells were 13 buys, including BioNTech (BNTX), Cadre Holdings (CDRE), Corsair Gaming (CRSR), Cognizant Technology (CTSH), Viant Technology (DSP), Hewlett Packard Enterprise (HPE), Itron (ITRI),  Omnicell (OMCL), Parsons (PSN), TTEC Holdings (TTEC), Veeco Instruments (VECO), Vimeo (VMEO) and Yext Inc. (YEXT). All of the new positions were sourced from our quantitative model. Next we trimmed nine of our existing holdings back down to our standard 2%-of-the-portfolio size. These trims included CDW (CDW), Extreme Networks (EXTR), Fabrinet (FN), Jabil Inc. (JBL), Medpace (MEDP), Nature’s Sunshine (NATR), LiveRamp (RAMP), Transcat (TRNS) and Yelp (YELP). Lastly, we added to Tactile Systems (TCMD) and Thryve Holdings (THRY) because they had drifted more than 20% below our standard position size.