| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 45,150 | 22,575 | 22,575 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 3I GROUP ADR | 4,769 | 4,769 |
| ABB LTD SPONSORED ADR | 5,801 | 5,801 |
| ABBOTT LABORATORIES | 65,830 | 65,830 |
| ABBVIE INC. | 22,746 | 22,746 |
| ACADEMY SPORTS & OUTDOORS INC | 8,860 | 8,860 |
| ACCOR S A SPONSORED ADR NEW | 5,039 | 5,039 |
| ACV AUCTIONS INC CL A CL A | 18,576 | 18,576 |
| ADIDAS AG SPON ADR | 11,690 | 11,690 |
| ADOBE INC | 64,479 | 64,479 |
| ADVANCED MICRO DEVICES INC. COMMON STOCK | 13,649 | 13,649 |
| ADYEN N V ADR | 4,178 | 4,178 |
| AIA GROUP LTD SPON ADR | 6,830 | 6,830 |
| AIR LIQUIDE ADR | 7,740 | 7,740 |
| AIR PRODUCTS AND CHEMICALS, INC. | 30,744 | 30,744 |
| AIRBNB INC | 14,587 | 14,587 |
| AIRBUS SE | 7,608 | 7,608 |
| ALARM COM HLDGS INC | 17,875 | 17,875 |
| ALCON AG | 8,659 | 8,659 |
| ALCON INC. | 8,829 | 8,829 |
| ALIBABA GROUP HOLDING LTD | 8,818 | 8,818 |
| ALIGN TECHNOLOGY INC COM | 20,434 | 20,434 |
| ALKAMI TECHNOLOGY INC COM | 17,313 | 17,313 |
| ALNYLAM PHARMACEUTICALS INC | 29,649 | 29,649 |
| ALPHABET INC CAP STK | 56,751 | 56,751 |
| ALPHABET INC CL A | 127,588 | 127,588 |
| ALPHABET INC CL C | 124,167 | 124,167 |
| AMADEUS IT GROUP SA | 8,042 | 8,042 |
| AMAZON COM INC | 121,761 | 121,761 |
| AMAZON.COM INC | 240,451 | 240,451 |
| AMERICAN TOWER CORP | 30,629 | 30,629 |
| AMERIPRISE FINL INC | 61,762 | 61,762 |
| AMETEK INC | 26,678 | 26,678 |
| AMGEN INC | 23,458 | 23,458 |
| AMPHENOL CORP CL A | 38,475 | 38,475 |
| AMPHENOL CORP NEW CL A | 23,613 | 23,613 |
| ANALOG DEVICES INC | 37,393 | 37,393 |
| ANSYS INC | 12,481 | 12,481 |
| AON PLC | 6,465 | 6,465 |
| APPLE INC | 201,588 | 201,588 |
| APPLE INC | 82,639 | 82,639 |
| APPLOVIN CORP COM CL A COM CL A | 5,829 | 5,829 |
| ARCELORMITTAL N Y REGISTRY SHS NEW | 5,436 | 5,436 |
| ARCH CAPITAL GROUP COM STK | 44,051 | 44,051 |
| ARES MANAGEMENT CORPORATION CL A COM STK | 47,798 | 47,798 |
| ARGENX SE SPONSORED | 7,995 | 7,995 |
| ARISTA NETWORKS INC COM NEW | 19,453 | 19,453 |
| ARMSTRONG WORLD INDS INC NEW COM STK | 11,448 | 11,448 |
| ARTHUR J GALLAGHER & CO NEW COM | 19,018 | 19,018 |
| ASBURY AUTOMOTIVE GROUP INC COM | 12,638 | 12,638 |
| ASHTEAD GROUP PLC ADR | 5,135 | 5,135 |
| ASICS CORP ADR | 3,052 | 3,052 |
| ASM INTERNATIONAL NV ASM | 5,692 | 5,692 |
| ASML HOLDING NV NY | 8,317 | 8,317 |
| ASML HOLDING NV NY | 6,238 | 6,238 |
| ASML HOLDING NV NY REG | 10,396 | 10,396 |
| ASSA ABLOY AB | 8,219 | 8,219 |
| ASTRAZENECA PLC | 8,780 | 8,780 |
| ASTRAZENECA PLC SPONSORED ADR | 86,552 | 86,552 |
| ATLAS COPCO AB SPON ADR | 7,262 | 7,262 |
| AUTOLIV INC | 5,534 | 5,534 |
| AUTOMATIC DATA PROCESSING INC | 26,053 | 26,053 |
| AUTOMATIC DATA PROCESSING INC. | 13,466 | 13,466 |
| AUTOZONE INC | 64,040 | 64,040 |
| AVANTOR INC | 8,702 | 8,702 |
| AXA SA SPONSORED ADR | 3,380 | 3,380 |
| BAE SYS PLC | 9,431 | 9,431 |
| BAE SYS PLC SPONSORED ADR | 5,830 | 5,830 |
| BANCO BILBAO VIZCAYA ARGENTARIA S A SPONSORED ADR | 5,521 | 5,521 |
| BANCO SANTANDER | 12,932 | 12,932 |
| BANK IRELAND GROUP PLC ADR | 5,023 | 5,023 |
| BARCLAYS PLC ADR | 5,981 | 5,981 |
| BAXTER INTL INC COMMON STOCK | 12,451 | 12,451 |
| BERKLEY W R CORP COM | 41,081 | 41,081 |
| BERRY GLOBAL GROUP INC | 15,521 | 15,521 |
| BHP GROUP LTD | 8,545 | 8,545 |
| BIO-RAD LABORATORIES INC | 8,541 | 8,541 |
| BLACKLINE INC | 19,928 | 19,928 |
| BLACKROCK INC | 35,879 | 35,879 |
| BLACKSTONE INC | 63,106 | 63,106 |
| BOEING CO COM | 23,187 | 23,187 |
| BP P L C SPONSORED ADR | 2,217 | 2,217 |
| BRAMBLES LTD SPONSORED | 6,712 | 6,712 |
| BRIDGESTONE CORP ADR | 4,698 | 4,698 |
| BROADCOM INC. | 126,353 | 126,353 |
| BROOKFIELD ASSET MGMT LTD CL A LTD VTG | 14,144 | 14,144 |
| BROOKFIELD CORP | 10,054 | 10,054 |
| BROWN & BROWN INC COM | 30,504 | 30,504 |
| BROWN-FORMAN INC., CLASS B, NON-VOTING COMMON STOCK | 10,141 | 10,141 |
| BUREAU VERITAS SA ADR | 5,787 | 5,787 |
| CADENCE DESIGN SYSTEM INC | 65,200 | 65,200 |
| CANADIAN NATIONAL RAILWAY CO. | 5,482 | 5,482 |
| CANANDIAN PAC RY LTD | 10,566 | 10,566 |
| CARLISLE COMPANIES INC COMMON STOCK | 21,762 | 21,762 |
| CCC INTELLIGENT SOLUTIONS HLDGS INC COM | 21,114 | 21,114 |
| CDW CORP COM | 20,189 | 20,189 |
| CENCORA INC | 40,892 | 40,892 |
| CENCORA INC | 34,825 | 34,825 |
| CERTATA INC | 5,719 | 5,719 |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD | 14,003 | 14,003 |
| CHEMED CORP | 18,543 | 18,543 |
| CHENIERE ENERGY INC COM NEW | 54,362 | 54,362 |
| CHEVRON CORP | 27,085 | 27,085 |
| CHEVRON CORP | 13,180 | 13,180 |
| CHEVRON CORP | 23,174 | 23,174 |
| CHIPOTLE MEXICAN GRILL INC | 27,135 | 27,135 |
| CHUBB LTD | 8,842 | 8,842 |
| CINTAS CORP | 23,386 | 23,386 |
| CISCO SYS INC | 58,075 | 58,075 |
| CISCO SYSTEMS INC. | 3,374 | 3,374 |
| CME GROUP INC | 35,531 | 35,531 |
| CME GROUP INC COM STK | 8,128 | 8,128 |
| COCA COLA CO. | 17,371 | 17,371 |
| COCA COLA EUROPACIFIC PARTNERS | 4,685 | 4,685 |
| COCA-COLA FEMSA S.A.B DE C.V. | 2,960 | 2,960 |
| COGNEX CORP COM | 12,408 | 12,408 |
| COMPASS GROUP PLC SPON ADR | 9,943 | 9,943 |
| COMPASS GROUP PLC SPON ADR | 6,449 | 6,449 |
| COMPASS GROUP PLC SPON ADR EACH REP 1 ORD SHS | 8,666 | 8,666 |
| CONOCOPHILLIPS COM | 30,941 | 30,941 |
| CONSTELLATION BRANDS INC CL A CL A | 20,995 | 20,995 |
| CONVATEC GROUP PLC ADR | 4,130 | 4,130 |
| COP ART INC COM | 26,227 | 26,227 |
| COPART INC | 28,064 | 28,064 |
| CORNING, INC | 8,601 | 8,601 |
| CORPAY INC COM NEW | 37,226 | 37,226 |
| COSTAR GROUP INC | 11,884 | 11,884 |
| COSTCO WHOLESALE CORP | 28,404 | 28,404 |
| CRH ORD EUR | 8,512 | 8,512 |
| CROWDSTRIKE HLDGS INC CL A CL A | 18,477 | 18,477 |
| CROWDSTRIKE HOLDINGS INC. | 16,082 | 16,082 |
| CULLEN / FROST BANKERS INC COM | 7,115 | 7,115 |
| CURTISS-WRIGHT CORP NEW COM | 10,291 | 10,291 |
| CVS HEALTH CORP | 11,289 | 11,289 |
| CYBERARK SOFTWARE LTD | 23,321 | 23,321 |
| DAIFUKU CO LTD ADR | 4,260 | 4,260 |
| DAIKIN INDUSTRIES LTD | 4,392 | 4,392 |
| DANAHER CORP | 41,089 | 41,089 |
| DANONE SPONSORED ADR | 7,980 | 7,980 |
| DATADOG INC | 50,154 | 50,154 |
| DATADOG INC COM | 12,431 | 12,431 |
| DAVIDE CAMPARI-MILANO NV ADR | 3,420 | 3,420 |
| DBS GROUP HLDGS LTD SPON ADR | 14,084 | 14,084 |
| DELL TECHNOLOGIES INC COM | 8,758 | 8,758 |
| DESCARTES SYS GROUP INC. | 29,536 | 29,536 |
| DEUTCHE TELEKOM AG SPONSORED ADR | 14,835 | 14,835 |
| DEUTSCHE BOERSE ADR | 13,898 | 13,898 |
| DEXCOM INC | 19,676 | 19,676 |
| DEXCOM INC COM | 7,466 | 7,466 |
| DIAGEO PLC SPON ADR | 9,280 | 9,280 |
| DIAMONDBACK ENERGY INC COM | 19,332 | 19,332 |
| DOLLAR TREE INC COM STK | 17,086 | 17,086 |
| DOMINOS PIZZA INC | 14,692 | 14,692 |
| DOUBLEVERIFY HLDGS INC COM | 13,370 | 13,370 |
| DOXIMITY INC COM | 28,030 | 28,030 |
| DRAFTKINGS INC | 23,585 | 23,585 |
| DSM-FIRMENICH AG SPONSORED ADR | 4,693 | 4,693 |
| DSV A/S ADR UNSP EACH REPR | 6,372 | 6,372 |
| EATON CORP PLC COM | 27,877 | 27,877 |
| EBARA CORP ADR | 6,371 | 6,371 |
| EDP - ENERGIAS DE PORTUGAL S A | 6,114 | 6,114 |
| EDWARDS LIFESCIENCES CORP | 7,329 | 7,329 |
| ELEVANCE HEALTH INC COM NEW | 21,027 | 21,027 |
| ELI LILLY & CO. | 26,248 | 26,248 |
| ELI LILLY & CO. | 35,512 | 35,512 |
| EMBRAER S A SPONSORED ADR | 3,998 | 3,998 |
| ENSIGN GROUP INC | 30,558 | 30,558 |
| ENTEGRIS INC | 22,883 | 22,883 |
| EPIROC AB UNSPON ADS | 6,145 | 6,145 |
| EQUINOR ASA | 4,951 | 4,951 |
| EXPEDITORS INTERNATIONAL WASHINGTON INC., COMMON STOCK | 8,308 | 8,308 |
| EXPERIAN PLC | 9,614 | 9,614 |
| EXPONENT INC | 14,167 | 14,167 |
| EXXON MOBIL CORP COM | 63,144 | 63,144 |
| FANUC CORP | 8,972 | 8,972 |
| FASTENAL CO COM | 3,452 | 3,452 |
| FERRARI NV | 14,869 | 14,869 |
| FIDELITY NATL INFORMATION SVCS INC | 38,043 | 38,043 |
| FISCERV INC | 60,188 | 60,188 |
| FIVE BELOW INC | 26,135 | 26,135 |
| FLOOR & DCOR HLDGS INC | 12,363 | 12,363 |
| FLOOR & DCOR HLDGS INC CL A | 32,004 | 32,004 |
| FLUTTER ENTERTAINMENT PLC ORD | 4,135 | 4,135 |
| FMC CORP | 7,632 | 7,632 |
| FORMENTO ECONOMICO MEXICANO SAB DE CV | 6,070 | 6,070 |
| FREEPORT-MCMORAN INC | 2,132 | 2,132 |
| FRESHPET INC | 40,138 | 40,138 |
| FUJITSU LTD ADR | 7,726 | 7,726 |
| GARTNER INC COM | 37,304 | 37,304 |
| GE HEALTHCARE TECHNOLOGIES INC | 7,974 | 7,974 |
| GE AEROSPACE | 13,010 | 13,010 |
| GENERAL DYNAMICS CORP. COMMON STOCK NEW | 4,216 | 4,216 |
| GIVAUDAN SA ADR | 5,747 | 5,747 |
| GLACIER BANCORP INC NEW COM | 7,181 | 7,181 |
| GLAUKOS CORP | 20,542 | 20,542 |
| GLOBAL PMTS INC | 21,964 | 21,964 |
| GLOBANT SA | 38,596 | 38,596 |
| GLOBUS MEDICAL INC | 7,196 | 7,196 |
| GOLDMAN SACHS GROUP INC | 9,735 | 9,735 |
| GOOSEHEAD INS INC | 15,118 | 15,118 |
| GRACO INC COM | 5,816 | 5,816 |
| GRAINGER W.W. INC. | 25,297 | 25,297 |
| GRAND CANYON ED INC | 42,916 | 42,916 |
| GRID DYNAMICS HOLDINGS INC | 15,234 | 15,234 |
| GUIDEWIRE SOFTWARE INC COM | 20,567 | 20,567 |
| HALEON PLC | 10,065 | 10,065 |
| HDFC BANK LTD | 20,627 | 20,627 |
| HEIDELBERG MATERIALS AG | 11,426 | 11,426 |
| HEINEKEN N V SPONSORED | 4,918 | 4,918 |
| HENKEL AG & CO KGAA NEW | 5,365 | 5,365 |
| HERMES INTL SCA ADR | 4,064 | 4,064 |
| HILLMAN SOLUTIONS CORP COM | 13,685 | 13,685 |
| HILTON WORLDWIDE HLDGS INC COM NEW COM NEW | 13,594 | 13,594 |
| HITACHI LTD | 7,468 | 7,468 |
| HOME DEPOT INC | 47,457 | 47,457 |
| HOME DEPOT INC | 15,560 | 15,560 |
| HOME DEPOT INC | 10,114 | 10,114 |
| HONEYWELL INTL INC | 34,561 | 34,561 |
| HOWMET AEROSPACE INC | 46,701 | 46,701 |
| HOYA CORP SPON ADR | 7,688 | 7,688 |
| HP INC COM | 4,927 | 4,927 |
| HUBBELL INC | 28,485 | 28,485 |
| HUBSPOT INC | 54,348 | 54,348 |
| ICON PLC | 14,051 | 14,051 |
| ICON PLC | 4,194 | 4,194 |
| ICON PLC SHS | 5,243 | 5,243 |
| IDEX CORP | 19,673 | 19,673 |
| IDEXX LABORATORIES INC | 14,884 | 14,884 |
| ILLINOIS TOOL WKS INC. | 7,353 | 7,353 |
| IMCD GROUP N V ADR | 6,461 | 6,461 |
| INDUSTRIA DE DISENO TEXTIL INDITEX SA ADR | 19,796 | 19,796 |
| ING GROEP N V SPONSORED ADR | 4,200 | 4,200 |
| INGERSOLL RAND INC | 25,962 | 25,962 |
| INSPIRE MED SYS INC COM | 12,235 | 12,235 |
| INTERCONTINENTAL EXCHANGE INC | 51,855 | 51,855 |
| INTERCONTINENTAL HOTELS GROUP PLC | 10,368 | 10,368 |
| INTESA SANPAOLO S P A SPON ADR | 8,597 | 8,597 |
| INTUTIVE SURGICAL INC | 15,137 | 15,137 |
| IQVIA HLDGS INC COM | 41,267 | 41,267 |
| JAMF HLDG CORP COM | 9,624 | 9,624 |
| JOHNSON & JOHNSON | 35,432 | 35,432 |
| JP MORGAN CHASE & CO. | 71,673 | 71,673 |
| JULIUS BAER GROUP LTD-UN ADR | 4,867 | 4,867 |
| JULUIS BAER GROUP LTD | 4,945 | 4,945 |
| KADANT INC | 28,289 | 28,289 |
| KAWASAKI HEAVY INDUSTRIES LTD NEW | 13,310 | 13,310 |
| KBC GROUP NV | 5,631 | 5,631 |
| KERRY GROUP PLC | 6,896 | 6,896 |
| KERRY GROUP PLC SPONSORED ADR | 7,196 | 7,196 |
| KEURIG DR PEPPER INC COM | 33,983 | 33,983 |
| KEYSIGHT TECHNOLOGIES INC | 20,721 | 20,721 |
| KINDER MORGAN INC DEL COM | 5,946 | 5,946 |
| KINSALE CAP GROUP INC COM | 27,908 | 27,908 |
| KORNIT DIGITAL LTD | 16,156 | 16,156 |
| L OREAL S A ADR | 6,830 | 6,830 |
| LABCORP HLDGS INC COM | 17,428 | 17,428 |
| LASERTEC CORP ADR | 3,242 | 3,242 |
| LENOVO GROUP LTD SPONSORED ADR | 2,755 | 2,755 |
| LEONARDO SPA ADR | 5,242 | 5,242 |
| LIBERTY BROADBAND CORP COM SER C COM SERC | 14,429 | 14,429 |
| LIBERTY MEDIA CORP DEL COM LIBERTY FORMULA ONE SER C | 17,698 | 17,698 |
| LINDE PLC | 43,542 | 43,542 |
| LINDE PLC | 6,280 | 6,280 |
| LITHIA MTRS INC COM CL A | 13,940 | 13,940 |
| LIVENATION ENTERTAINMENT INC COM | 12,044 | 12,044 |
| LLOYDS BANKING GROUP PLC | 8,992 | 8,992 |
| LLOYDS BANKING GROUP PLC - ADR | 6,212 | 6,212 |
| LOCKHEED MARTIN CORP COM | 10,205 | 10,205 |
| LONDON STK EXCHANGE GROUP ADR | 10,243 | 10,243 |
| LONDON STK EXCHANGE GROUP ADR | 14,597 | 14,597 |
| LONDON STOCK EXCHANGE GROUP PLC | 14,776 | 14,776 |
| LONZA GROUP AG ADR | 5,878 | 5,878 |
| LOWES COS INC | 33,565 | 33,565 |
| LVMH MOET HENNESSY LOUIS VUITTON ADR | 13,592 | 13,592 |
| LVMH MOET HENNESSY LOUIS VUITTON SE | 6,535 | 6,535 |
| MARRIOTT INTL CL A | 40,446 | 40,446 |
| MARSH & MCLENNAN CO'S INC. | 28,888 | 28,888 |
| MARSH & MCLENNAN CO'S INC. | 15,294 | 15,294 |
| MARTIN MARIETTA MATERIALS | 34,089 | 34,089 |
| MARVELL TECHNOLOGY GROUP LTD | 32,141 | 32,141 |
| MASCO CORP | 16,981 | 16,981 |
| MASTERCARD INC | 36,333 | 36,333 |
| MCDONALDS CORP. | 60,297 | 60,297 |
| MEDPACE HLDGS INC | 31,562 | 31,562 |
| MEDTRONIC PLC | 25,162 | 25,162 |
| MERCADOLIBRE INC COM STK | 6,802 | 6,802 |
| MERCK & CO INC NEW COM | 27,207 | 27,207 |
| MERCK & CO. INC. | 19,896 | 19,896 |
| MERCK KGAA SPONSORED ADR DEPOSITARY | 5,211 | 5,211 |
| META PLATFORMS INC | 117,102 | 117,102 |
| MICROCHIP TECHNOLOGY INC | 13,926 | 13,926 |
| MICROCHIP TECHNOLOGY INC. | 35,672 | 35,672 |
| MICROSOFT CORP | 275,661 | 275,661 |
| MICROSOFT CORP | 16,017 | 16,017 |
| MICROSOFT CORP | 99,053 | 99,053 |
| MITSUBISHI UFJ FINL GROUP INC SPONSORED ADR | 10,360 | 10,360 |
| MITSUBISHI UFJ FINL GROUP INC SPONSORED ADR | 4,172 | 4,172 |
| MKS INSTRS INC COM | 13,884 | 13,884 |
| MOELIS & CO CL A CL A | 12,412 | 12,412 |
| MONDAY.COM LTD NEW | 22,838 | 22,838 |
| MONDELEZ INTL INC | 25,087 | 25,087 |
| MONDELEZ INT'L INC. | 18,038 | 18,038 |
| MONDELEZ INT'L INC. | 25,087 | 25,087 |
| MONGODB INC CL A CL A | 10,244 | 10,244 |
| MONOLITHIC POWER SYSTEMS INC COM NEW | 23,076 | 23,076 |
| MONOTARO CO LTD ADR | 1,599 | 1,599 |
| MONSTER BEVERAGE CORP NEW COM | 55,766 | 55,766 |
| MOODYS CORP COM | 14,201 | 14,201 |
| MSCI INC CL A | 20,400 | 20,400 |
| MTU AERO ENGINES HLDGS AG ADR | 5,467 | 5,467 |
| NATWEST GROUP PLC SPON ADS | 6,234 | 6,234 |
| NEOGEN CORP | 4,613 | 4,613 |
| NETFLIX INC | 57,044 | 57,044 |
| NEXTERA ENERGY INC | 36,777 | 36,777 |
| NEXTRA ENERGY INC | 15,772 | 15,772 |
| NOMURA RESEARCH INSTITUTE UNSP ADR | 2,732 | 2,732 |
| NOMURA RESEARCH INSTITUTE UNSP ADR | 3,849 | 3,849 |
| NOVARTIS AG | 8,855 | 8,855 |
| NOVO-NORDISK A S ADR | 43,698 | 43,698 |
| NVIDIA CORP | 345,528 | 345,528 |
| O REILLY AUTOMOTIVE INC | 18,973 | 18,973 |
| OLYMPUS CORP | 5,595 | 5,595 |
| ONEOK INC COM STK | 6,526 | 6,526 |
| OPTIONS CARE HEALTH INC COME NEW COM NEW | 9,953 | 9,953 |
| O'REILLY AUTOMATIVE INC COM NEW | 18,973 | 18,973 |
| ORTHOPEDIATRICS CORP | 4,311 | 4,311 |
| OSHKOSH CORP | 10,172 | 10,172 |
| OTIS WORLDWIDE CORP | 40,563 | 40,563 |
| PACCAR INC., COMMON STOCK | 23,925 | 23,925 |
| PALO ALTO NETWORKS INC | 9,462 | 9,462 |
| PAYCHEX, INC. | 9,114 | 9,114 |
| PAYCOR HCM INC | 18,997 | 18,997 |
| PAYLOCITY HLDG. CORP | 30,718 | 30,718 |
| PENNANT GROUP INC | 12,385 | 12,385 |
| PENTAIR PLC | 11,674 | 11,674 |
| PEPSICO INC | 37,103 | 37,103 |
| PEPSICO INC. | 17,183 | 17,183 |
| PHILIP MORRIS INTL COM STK NPV | 26,718 | 26,718 |
| PHILLIPS 66 | 8,773 | 8,773 |
| PHREESIA INC. | 8,378 | 8,378 |
| PINTEREST INC COM NEW | 19,778 | 19,778 |
| PNC FINANCIAL SERVICES GROUP | 16,778 | 16,778 |
| PNC FINL SVCS GROUP INC | 35,099 | 35,099 |
| POWER INTEGRATIONS INC | 14,376 | 14,376 |
| PPL CORP COM ISIN US69351T1060 | 8,667 | 8,667 |
| PRIVA HELATH GROUP INC | 22,248 | 22,248 |
| PROCORE TECHNOLOGIES INC COM NEW | 6,669 | 6,669 |
| PROCTOR & GAMBLE COM NPV | 19,280 | 19,280 |
| PROGRESSIVE CORP., OHIO, COMMON STOCK | 15,335 | 15,335 |
| PROLOGIS INC | 38,898 | 38,898 |
| PUBLICIS GROUPE S A AMERICAN DEPOSITARY RECEIPTS SPONSORED | 5,386 | 5,386 |
| QUALCOMM INC | 53,921 | 53,921 |
| QUALCOMM INC. | 6,298 | 6,298 |
| RB GLOBAL INC COM NPV | 23,274 | 23,274 |
| REALTY INCOME CORP | 9,881 | 9,881 |
| REGAL REXNORD CORP | 16,134 | 16,134 |
| RELX PLC | 6,631 | 6,631 |
| RELX PLC | 9,538 | 9,538 |
| RENSAS ELECTRONICS CORP ADR | 4,402 | 4,402 |
| RENTOKIL INITIAL PLC | 8,938 | 8,938 |
| REPLIGEN CORP COM STK | 21,015 | 21,015 |
| REVVITY INC | 20,648 | 20,648 |
| ROPER TECHNOLOGIES INC | 62,382 | 62,382 |
| ROSS STORES INC | 38,271 | 38,271 |
| ROSS STORES INC | 72,005 | 72,005 |
| ROYAL DUTCH SHELL PLC | 4,260 | 4,260 |
| RTX CORP | 48,487 | 48,487 |
| RTX CORPORATION COMSTK | 4,397 | 4,397 |
| S & P GLOBAL INC | 35,858 | 35,858 |
| SAFRAN ADR | 6,268 | 6,268 |
| SAIA INC | 19,141 | 19,141 |
| SALESFORCE INC | 89,935 | 89,935 |
| SALESFORCE.COM INC | 18,054 | 18,054 |
| SANDOZ GROUP AG SPONSORED ADS | 3,848 | 3,848 |
| SAP SE SPON ADR | 27,576 | 27,576 |
| SBA COMMUNICATIONS CORP CL A | 9,986 | 9,986 |
| SCHNEIDER ELECTRIC SE | 9,183 | 9,183 |
| SCLUMBERGER LTD COM COM | 4,984 | 4,984 |
| SEA LTD ADR | 8,700 | 8,700 |
| SEMPRA COM | 12,983 | 12,983 |
| SERVICE CORPORATION INTERNATIONAL COMMON STOCK | 27,219 | 27,219 |
| SERVICENOW INC COM | 24,383 | 24,383 |
| SHELL PLC | 12,781 | 12,781 |
| SHOPIFY INC CL SHOPIFY INC | 7,656 | 7,656 |
| SIEMENS AG | 10,345 | 10,345 |
| SIEMENS AG COM DM50 | 6,574 | 6,574 |
| SIEMENS HEALTHINEERS AG ADR | 3,105 | 3,105 |
| SIEMENS HEALTHINEERS AG ADR | 2,763 | 2,763 |
| SIMPSON MFG INC COMMON STOCK | 13,432 | 13,432 |
| SMC CORP JAPAN | 5,233 | 5,233 |
| SMC CORP JAPAN | 4,147 | 4,147 |
| SNOWFLAKE INC | 10,037 | 10,037 |
| SONOVA HLDG AG UNSP ADR | 4,813 | 4,813 |
| SONY GROUP CORP | 8,570 | 8,570 |
| SONY GROUP CORP SPON ADS | 20,546 | 20,546 |
| SPOTIFY TECHNOLOGY S A COM | 8,500 | 8,500 |
| SPOTIFY TECHNOLOGY S A COM | 4,026 | 4,026 |
| SPROUTS FMRS MKT INC | 40,408 | 40,408 |
| SPS COMM INC | 36,982 | 36,982 |
| STATE STR CORP | 18,354 | 18,354 |
| STEVANATO GROUP S.P.A COM NPV | 10,350 | 10,350 |
| STOCKS | 937,440 | 937,440 |
| STRAUMANN HLDG AG ADR | 3,673 | 3,673 |
| STRYKER CORP | 30,244 | 30,244 |
| SUZUKI MOTOR CORP | 6,845 | 6,845 |
| SYMRISE AG | 6,999 | 6,999 |
| SYMRISE AG AGR | 8,108 | 8,108 |
| SYSCO CORP | 34,178 | 34,178 |
| TAIWAN SEMICONDUCTOR MANUFACTURING ADS | 6,320 | 6,320 |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 14,219 | 14,219 |
| TE CONNECTIVITY LTD | 50,611 | 50,611 |
| TELEDYNE TECHNOLOGIES INC COM | 14,388 | 14,388 |
| TENCENT HOLDINGS LTD | 11,859 | 11,859 |
| TENCENT MUSIC ENTMT GROUP ADS | 3,212 | 3,212 |
| TERUMO CORP | 10,803 | 10,803 |
| TESLA INC | 47,249 | 47,249 |
| TEXAS INSTRUMENTS INC. | 12,938 | 12,938 |
| THE TRADE DESK INC | 16,807 | 16,807 |
| THERMO FISHER CORP | 40,058 | 40,058 |
| THERMO FISHER CORP | 32,774 | 32,774 |
| THOMSON REUTERS CORP | 7,377 | 7,377 |
| THOR INDS INC COM STK | 14,548 | 14,548 |
| TJX COS INC | 40,471 | 40,471 |
| TJX COS INC | 8,698 | 8,698 |
| T-MOBILE US INC | 26,267 | 26,267 |
| TOKIO MARINE HOLDINGS INC | 6,412 | 6,412 |
| TOKIO MARINE HOLDINGS INC | 8,393 | 8,393 |
| TOKYO ELECTRON LTD ADR | 13,362 | 13,362 |
| TOYOTA MOTOR CORP | 6,228 | 6,228 |
| TOYOTA MTR CORP SPONSORED ADR | 5,060 | 5,060 |
| TRACTOR SUPPLY CO | 32,897 | 32,897 |
| TRADE DESK INC/TH | 46,307 | 46,307 |
| TRADEWEB MARKETS INC | 39,538 | 39,538 |
| TRANSCAT INC COM | 11,843 | 11,843 |
| TRANSUNION | 22,343 | 22,343 |
| TRAVELERS COS INC COM | 17,585 | 17,585 |
| TRIP.COM GROUP LTD COM NEW | 9,750 | 9,750 |
| UBER TECHNOLOGIES INC | 16,166 | 16,166 |
| UCB S A | 3,559 | 3,559 |
| ULTA BEAUTY, INC | 16,092 | 16,092 |
| UNICREDIT SPA ADR NEW | 6,733 | 6,733 |
| UNILEVER PLC | 15,989 | 15,989 |
| UNION PAC CORP | 47,432 | 47,432 |
| UNITED PARCEL SVC INC. | 2,648 | 2,648 |
| UNITED PARCEL SVC INC. | 20,302 | 20,302 |
| UNITEDHEALTH GROUP INC | 95,102 | 95,102 |
| UNITEDHEALTH GROUP INC | 39,457 | 39,457 |
| UNIVERSAL MUSIC GROUP NV ADS | 5,921 | 5,921 |
| US BANCORP | 27,263 | 27,263 |
| US BANCORP | 34,677 | 34,677 |
| US FOODS HLDG CORP | 28,940 | 28,940 |
| US PHYSICAL THERAPY | 11,976 | 11,976 |
| VALVOLINE INC COM NEW | 11,759 | 11,759 |
| VEEVA SYS INC CL A COM | 35,743 | 35,743 |
| VERITIV HOLDINGS LLC COM | 10,225 | 10,225 |
| VERTEX PHARMACEUTICALS INC COM | 18,927 | 18,927 |
| VERTIV HOLDINGS CO COM NEW | 13,747 | 13,747 |
| VICI PROPERTIES INC | 19,571 | 19,571 |
| VISA INC | 119,147 | 119,147 |
| VISA INC CL A | 26,231 | 26,231 |
| WALMART INC COM | 25,117 | 25,117 |
| WALT DISNEY CO | 51,110 | 51,110 |
| WALT DISNEY CO/THE | 57,791 | 57,791 |
| WASTE CONNECTIONS INC COM | 28,825 | 28,825 |
| WATERS CORP COM | 15,581 | 15,581 |
| WEC ENERGY GROUP INC. | 5,736 | 5,736 |
| WEC ENERGY GROUP INC. | 14,012 | 14,012 |
| WESCO INTERNATIONAL | 13,029 | 13,029 |
| WILLIAMS COMPANY INC COMMON STOCK | 21,053 | 21,053 |
| WILLSCOT MOBILE MINI HLDGS CORP | 15,354 | 15,354 |
| WISE PLC ADR | 2,758 | 2,758 |
| WORKDAY INC COM NEW | 37,156 | 37,156 |
| WORKIVA INC | 32,631 | 32,631 |
| ZAI LAB LTD ADR | 917 | 917 |
| ZOETIS INC CL A | 19,063 | 19,063 |
| ZSCALER INC | 22,371 | 22,371 |
| ZURN ELKAY WATER SOLUTIONS CORPORATION | 12,123 | 12,123 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ATLAS POINT DURABLE GROWTH FUND LP | FMV | 664,738 | 664,738 |
| BAILLIE GIFFORD INTERNATIONAL ALPHA FUND | FMV | 406,618 | 406,618 |
| CIBC ATLAS INCOME OPP. FUND INST | FMV | 530,737 | 530,737 |
| MFB NORTHERN FDS MULTI-MANAGER GLO. REAL EST. | FMV | 151,499 | 151,499 |
| MFB NORTHERN FUNDS | FMV | 5,692,915 | 5,692,915 |
| MFB NORTHERN FUNDS EMERGING MARKETS | FMV | 62,223 | 62,223 |
| MFB NORTHERN HIGH YIELD FIXED INCOME FUND | FMV | 1,133,336 | 1,133,336 |
| MFB NORTHERN MULTI MANAGER GLOBAL | FMV | 297,667 | 297,667 |
| MFC FLEXHSARES TR MORNINGSTAR | FMV | 399,208 | 399,208 |
| MFC FLEXSHARES TR MORNINGSTAR GLOBAL | FMV | 521,511 | 521,511 |
| MFC FLEXSHARES TR STOXX GLOBAL BROAD | FMV | 151,818 | 151,818 |
| MFC FLEXSHARES TRUST HIGH YIELD VALUE BOND FD | FMV | 128,630 | 128,630 |
| MFC FLEXSHARES ULTRA-SHORT INC | FMV | 250,470 | 250,470 |
| MFO DFA INVT DIMENSIONS GROUP INC REAL ESTATE SECS PORTFOLIO | FMV | 222,906 | 222,906 |
| JPMORGAN CHASE & CO SR NT | FMV | 9,742 | 9,742 |
| IPATH SELECT MLP ETN NEW | FMV | 1,073,226 | 1,073,226 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL | 55,035 | 22,014 | 33,021 |
| Description | Amount |
|---|---|
| FEDERAL EXCISE TAX | 111,284 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 8,375 | 8,375 | 0 | |
| INVESTMENT MANAGEMENT | 158,465 | 158,465 | 0 | |
| OIL & GAS DEDUCTIONS | 26,008 | 26,008 | 0 | |
| REAL ESTATE TAXES | 2,243 | 2,243 | 0 | |
| TRUSTEES' LIABILITY INSURANCE | 4,499 | 2,250 | 2,249 | |
| LANDMAN SERVICES | 8,800 | 4,400 | 4,400 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| ROYALTY INCOME | 686,536 | 686,536 | 686,536 |
| CIBC- K-1 OTHER INCOME | 90 | 90 | 90 |
| OTHER INCOME | 49,786 | 49,786 | 49,786 |
| Description | Amount |
|---|---|
| NET UNREALIZED GAIN ON INVESTMENTS | 2,349,295 |
| DEPLETION EXPENSE ON RETURN NOT ON BOOKS | 102,980 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DEFERRED FEDERAL EXCISE TAX | 95,246 | 128,016 |