| Issuer | % book | Value | Conviction | Business |
|---|
| LINDE PLC | 1.4% | $128,860,914 | Low | Industrial gases (oxygen, nitrogen, hydrogen) |
| $BL 1 06.01.29 · BLACKLINE INC | 1.0% | $94,857,888 | Low | Financial-close and accounting automation software |
| H2O AMERICA | 0.8% | $72,090,586 | Low | |
| $SNAP 0.5 05.01.30 · SNAP INC | 0.8% | $71,149,774 | Low | Snapchat social media platform |
| $BRK.B · BERKSHIRE HATHAWAY INC DEL | 0.7% | $63,866,338 | Low | Buffett conglomerate — insurance, railroads, utilities, equities |
| $VRNS 1 09.15.29 · VARONIS SYS INC | 0.7% | $59,454,300 | Low | |
| $NEE 7.375 02.15.29 · NEXTERA ENERGY INC | 0.7% | $60,430,906 | Low | Utility and renewable power generator (Florida) |
| $PEN · PENUMBRA INC | 0.7% | $66,801,623 | Low | |
| WIX COM LTD | 0.6% | $50,583,312 | Low | Website building and hosting platform |
| $DXCM 0.375 05.15.28 · DEXCOM INC | 0.6% | $58,165,989 | Low | Continuous glucose monitoring devices |
| $WBS · WEBSTER FINL CORP | 0.5% | $49,412,462 | Low | Northeast US regional bank |
| $APLSUSD · APELLIS PHARMACEUTICALS INC | 0.5% | $42,482,880 | Low | Complement-immunology biopharma (eye, blood diseases) |
| $T86 · TRI POINTE HOMES INC | 0.5% | $48,665,837 | Low | |
| $CX · CEMEX SA EURO MTN BE 144A | 0.4% | $34,228,148 | Low | |
| $SUNB · SUNBELT RENTALS HOLDINGS INC | 0.4% | $35,546,560 | Low | |
| $VST · VISTRA CORP | 0.4% | $36,727,724 | Low | Power generation and retail electricity |
| ELASTIC N V | 0.4% | $38,042,390 | Low | |
| $DAWNGBX · DAY ONE BIOPHARMACEUTICALS I | 0.4% | $32,998,304 | Low | |
| $COF · CAPITAL ONE FINL CORP | 0.4% | $32,856,555 | Low | Credit cards and consumer banking |
| $MCD · MCDONALDS CORP | 0.4% | $38,401,834 | Low | Fast-food restaurant franchise |
| $POR · PORTLAND GEN ELEC CO | 0.3% | $26,718,929 | Low | Electric utility (Oregon) |
| $ORCL 6.5 01.15.29 D · ORACLE CORP | 0.3% | $26,057,044 | Low | Enterprise databases, cloud and software |
| $ACLXGBX · ARCELLX INC | 0.3% | $22,964,000 | Low | |
| VERIS RESIDENTIAL INC | 0.3% | $28,943,561 | Low | |
| $NATL · NCR ATLEOS CORPORATION | 0.3% | $31,828,609 | Low | ATM and self-service banking technology |
| $OBDC · BLUE OWL CAPITAL CORPORATION | 0.3% | $27,109,564 | Low | Alternative asset manager (private credit) |
| $SEM · SELECT MED HLDGS CORP | 0.3% | $29,867,275 | Low | Specialty hospitals and rehabilitation |
| $KKR · KKR & CO INC | 0.2% | $22,633,918 | Low | Global private equity and alternative asset manager |
| $TALK · TALKSPACE INC | 0.2% | $14,319,432 | Low | |
| $430 · TERNS PHARMACEUTICALS INC | 0.2% | $16,970,832 | Low | |
| $8TG · THERMON GROUP HLDGS INC | 0.2% | $22,583,635 | Low | |
| $BXSL · BLACKSTONE SECD LENDING FD | 0.2% | $20,551,075 | Low | |
| $4I1 · PHILIP MORRIS INTL INC | 0.2% | $18,566,690 | Low | International tobacco and smoke-free products |
| $NOW · SERVICENOW INC | 0.2% | $16,137,188 | Low | Cloud workflow and IT-service-management software |
| $AES · AES CORP | 0.2% | $21,938,130 | Low | Global power generation and utilities |
| $ARES · ARES MANAGEMENT CORPORATION | 0.2% | $21,389,491 | Low | Alternative asset manager (credit, private equity) |
| $BX · BLACKSTONE INC | 0.2% | $19,949,500 | Low | Alternative asset manager (private equity, real estate) |
| $EHABUSD · ENHABIT INC | 0.2% | $15,762,117 | Low | Home health and hospice care services |
| GLOBALFOUNDRIES INC | 0.2% | $19,765,222 | Low | |
| $JBTM 0.25 05.15.26 · JBT MAREL CORPORATION | 0.2% | $16,916,175 | Low | |
| $MA · MASTERCARD INCORPORATED | 0.2% | $15,215,646 | Low | Global card payment network |
| $META · META PLATFORMS INC | 0.2% | $19,799,703 | Low | Facebook, Instagram, WhatsApp; digital ads and AI |
| $APO · APOLLO GLOBAL MGMT INC | 0.2% | $14,635,128 | Low | |
| $HYG · ISHARES TR | 0.2% | $19,890,000 | Low | BlackRock iShares ETF family (index funds) |
| $MFIC · MIDCAP FINANCIAL INVSTMNT CO | 0.2% | $21,856,180 | Low | |
| $VSEC 5.75 02.01.29 · VSE CORP | 0.2% | $16,571,601 | Low | Aviation and fleet aftermarket parts/services |
| $MASI* · MASIMO CORP | 0.2% | $17,936,055 | Low | Patient monitoring and pulse oximetry |
| $ABT · ABBOTT LABORATORIES | 0.1% | $4,594,483 | Low | |
| $NOC · NORTHROP GRUMMAN CORP | 0.1% | $6,590,438 | Low | Aerospace and defense contractor |
| $OTF · BLUE OWL TECHNOLOGY FIN CORP | 0.1% | $12,451,950 | Low | |
| $GDEN · GOLDEN ENTMT INC | 0.1% | $11,479,396 | Low | |
| $JAN · JANUS LIVING INC | 0.1% | $5,392,062 | Low | |
| $LBRDK · LIBERTY BROADBAND CORP | 0.1% | $6,399,921 | Low | Holding company for Charter Communications stake |
| $NSA · NATIONAL STORAGE AFFILIATES | 0.1% | $11,979,884 | Low | Self-storage REIT |
| $SPGI · S&P GLOBAL INC | 0.1% | $7,031,721 | Low | Credit ratings, indices and market data |
| $ATD · ATI INC | 0.1% | $7,684,943 | Low | |
| $JNJ · JOHNSON & JOHNSON | 0.1% | $8,517,756 | Low | |
| $KWEB · KRANESHARES TRUST | 0.1% | $8,540,486 | Low | China-focused thematic ETF family |
| $MCX · MCCORMICK & CO INC | 0.1% | $5,183,265 | Low | |
| $VRSK · VERISK ANALYTICS INC | 0.1% | $10,143,086 | Low | Insurance data analytics and risk modeling |
| $CAKE 0.375 06.15.26 · CHEESECAKE FACTORY INC | 0.1% | $8,948,719 | Low | Casual-dining restaurant chain |
| $ETSY · ETSY INC | 0.1% | $10,745,700 | Low | Online marketplace for handmade and vintage goods |
| $MCB · METROPOLITAN BK HLDG CORP | 0.1% | $6,246,750 | Low | |
| PEAKSTONE REALTY TRUST | 0.1% | $5,176,584 | Low | Industrial and office net-lease REIT |
| CHUBB LTD SWITZ | 0.1% | $7,460,538 | Low | |
| $NFLX · NETFLIX INC. | 0.1% | $4,603,181 | Low | Subscription video streaming service |
| $CG · CARLYLE GROUP INC | 0.1% | $11,854,824 | Low | Global private-equity and asset manager |
| $KO · COCA COLA CO | 0.1% | $11,456,400 | Low | Soft drinks and beverages |
| $TPG · TPG INC | 0.1% | $7,001,546 | Low | Alternative asset management (private equity) |
| $CF · CF INDUSTRIES HOLD | 0.1% | $7,511,114 | Low | |
| $INGM · INGRAM MICRO HLDG CORP | 0.1% | $9,324,000 | Low | Global IT product distribution |
| $MDA · MDA SPACE LTD | 0.1% | $5,064,000 | Low | |
| $AA · ALCOA CORP | 0.0% | $429,951 | Low | Aluminum and bauxite/alumina producer |
| $BILL · BILL HOLDINGS INC | 0.0% | $4,095,228 | Low | SMB accounts-payable and spend software |
| $BOBS · BOBS DISC FURNITURE INC | 0.0% | $1,410,000 | Low | |
| CANTOR EQUITY PARTNERS II IN | 0.0% | $544,500 | Low | |
| $FE · FIRSTENERGY CORP | 0.0% | $1,061,124 | Low | |
| GRAB HOLDINGS LIMITED | 0.0% | $71,070 | Low | Southeast Asia ride-hailing, delivery and fintech |
| $MTRN · MATERION CORP | 0.0% | $3,058,190 | Low | Advanced materials and specialty alloys |
| $ENS · ENERSYS | 0.0% | $4,149,302 | Low | Industrial batteries and energy storage |
| $FPS · FORGENT POWER SOLUTIONS INC | 0.0% | $2,991,394 | Low | |
| $PGR · PROGRESSIVE CORP | 0.0% | $1,877,729 | Low | Auto and property insurance |
| $RDDT · REDDIT INC | 0.0% | $3,240,891 | Low | Social news and discussion platform |
| $CRS · CARPENTER TECHNOLOGY CORP | 0.0% | $3,325,049 | Low | Premium specialty alloys for aerospace and medical |
| $NET · CLOUDFLARE INC | 0.0% | $2,224,552 | Low | Web security and content-delivery network |
| $PPL · PPL CORP | 0.0% | $4,477,040 | Low | PPL Corp — US electric and gas utility |
| $TE · T1 ENERGY INC | 0.0% | $387,887 | Low | US solar module manufacturer (formerly Freyr) |
| $TN1 · TENNANT CO | 0.0% | $1,727,197 | Low | |
| $ACHC · ACADIA HEALTHCARE COMPANY IN | 0.0% | $527,117 | Low | Behavioral-health hospital operator |
| $ADEA · ADEIA INC | 0.0% | $1,207,988 | Low | |
| ARRAY TECHNOLOGIES INC | 0.0% | $1,990,318 | Low | Solar tracking systems |
| $EQPT · EQUIPMENTSHARE COM INC | 0.0% | $3,055,500 | Low | |
| IMPINJ INC | 0.0% | $398,579 | Low | |
| RBC BEARINGS INC | 0.0% | $2,647,710 | Low | Precision bearings for aerospace/industrial |
| $RUSHA · RUSH ENTERPRISES INC | 0.0% | $921,375 | Low | Commercial truck dealerships and service |
| AMER SPORTS INC | 0.0% | $1,335,729 | Low | Sporting goods brands (Arc'teryx, Salomon, Wilson) |
| $LQD · ISHARES TR | 0.0% | $2,179,800 | Low | BlackRock iShares ETF family (index funds) |
| $MU · MICRON TECHNOLOGY INC | 0.0% | $954,060 | Low | Memory chips (DRAM and NAND flash) |
| $OFRM · ONCE UPON A FARM PBC | 0.0% | $2,452,500 | Low | |
| SPRING VY ACQUISITION CORP I | 0.0% | $2,999,852 | Low | Special-purpose acquisition company (blank-check) |
| STELLANTIS N.V | 0.0% | $2,685,274 | Low | |
| $USAR · USA RARE EARTH INC | 0.0% | $317,699 | Low | US rare-earth magnet materials and processing |
| $DTE · DTE ENERGY CO | 0.0% | $646,877 | Low | Electric and gas utility (Michigan) |
| $NTNX 0.5 12.15.29 · NUTANIX INC | 0.0% | $2,902,938 | Low | Hybrid-cloud and hyperconverged infrastructure software |
| $AKTS · AKTIS ONCOLOGY INC | 0.0% | $1,789,000 | Low | |
| $LNT · ALLIANT ENERGY CORP | 0.0% | $1,324,116 | Low | Midwest electric and gas utility |
| $DY · DYCOM INDS INC | 0.0% | $2,777,646 | Low | Telecom infrastructure construction services |
| $SHLS · SHOALS TECHNOLOGIES GROUP IN | 0.0% | $1,901,462 | Low | Solar electrical balance-of-system components |
| $BAC · VERIZON COMMUNICATIONS INC | 0.0% | $2,173,258 | Low | Wireless and broadband telecom carrier |
| $CDZI · CADIZ INC | 0.0% | $143,401 | Low | |
| $KTOS · KRATOS DEFENSE & SEC SOLUTIO | 0.0% | $352,550 | Low | Defense drones, satellites and electronics |
| $MWH · SOLV ENERGY INC | 0.0% | $4,219,215 | Low | |