Q2 2025 Holdings
Filed 2025-07-22 | 90 holdings | $5.0B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Brown & Brown, Inc.(BRO) | COM | 115236101 | $237.3M | 2,140,192 | 4.7% |
| Amphenol Corp.(APH) | COM | 032095101 | $225.9M | 2,287,420 | 4.5% |
| Stryker Corporation(SYK) | COM | 863667101 | $207.6M | 524,815 | 4.1% |
| Ross Stores, Inc.(ROST) | COM | 778296103 | $204.8M | 1,605,116 | 4.1% |
| CDW Corporation(CDW) | COM | 12514G108 | $203.0M | 1,136,423 | 4.1% |
| Trane Technologies PLC(TT) | COM | G8994E103 | $182.1M | 416,288 | 3.6% |
| Markel Corporation(MKL) | COM | 570535104 | $176.6M | 88,392 | 3.5% |
| Vulcan Materials(VMC) | COM | 929160109 | $173.7M | 665,852 | 3.5% |
| Brookfield Corp(BN) | COM | 11271J107 | $160.4M | 2,592,645 | 3.2% |
| Fastenal Co(FAST) | COM | 311900104 | $157.4M | 3,747,704 | 3.1% |
| Idex Corporation(IEX) | COM | 45167R104 | $153.2M | 872,652 | 3.1% |
| Progressive Corp.(PGR) | COM | 743315103 | $149.3M | 559,360 | 3.0% |
| AutoZone, Inc.(AZO) | COM | 053332102 | $123.6M | 33,298 | 2.5% |
| Exlservice Holdings Inc.(EXLS) | COM | 302081104 | $121.4M | 2,771,245 | 2.4% |
| Pinnacle Financial Partners, I | COM | 72346Q104 | $118.9M | 1,076,968 | 2.4% |
| Analog Devices Inc(ADI) | COM | 032654105 | $118.1M | 496,333 | 2.4% |
| Booking Holdings Inc.(BKNG) | COM | 09857L108 | $115.4M | 19,934 | 2.3% |
| Arthur J. Gallagher & Co.(AJG) | COM | 363576109 | $114.1M | 356,342 | 2.3% |
| Heico Corp. Class A(HEI/A) | COM | 422806208 | $110.7M | 427,696 | 2.2% |
| Zebra Technologies A(ZBRA) | COM | 989207105 | $108.4M | 351,633 | 2.2% |
| Keysight Technologies Inc.(KEYS) | COM | 49338L103 | $102.5M | 625,803 | 2.0% |
| Microchip Technology Incorpora(MCHP) | COM | 595017104 | $98.5M | 1,399,969 | 2.0% |
| Illinois Tool Works Inc.(ITW) | COM | 452308109 | $97.3M | 393,529 | 1.9% |
| Graco Inc.(GGG) | COM | 384109104 | $94.4M | 1,098,618 | 1.9% |
| Waters Corporation(WAT) | COM | 941848103 | $85.1M | 243,780 | 1.7% |
| Broadridge Financial Solutions(BR) | COM | 11133T103 | $76.9M | 316,531 | 1.5% |
| Steris PLC(STE) | COM | G8473T100 | $75.0M | 312,061 | 1.5% |
| Republic Services, Inc.(RSG) | COM | 760759100 | $69.3M | 280,961 | 1.4% |
| Ametek, Inc.(AME) | COM | 031100100 | $65.6M | 362,433 | 1.3% |
| Cintas Corp(CTAS) | COM | 172908105 | $61.9M | 277,629 | 1.2% |
| Paychex Inc(PAYX) | COM | 704326107 | $61.5M | 422,697 | 1.2% |
| Brookfield Asset Management Lt(BAM) | COM | 113004105 | $51.4M | 930,467 | 1.0% |
| Martin Marietta Mat(MLM) | COM | 573284106 | $48.8M | 88,850 | 1.0% |
| EOG Resources, Inc.(EOG) | COM | 26875P101 | $44.8M | 374,538 | 0.9% |
| Entegris, Inc.(ENTG) | COM | 29362U104 | $44.2M | 547,883 | 0.9% |
| Jack Henry & Associates Inc(JKHY) | COM | 426281101 | $41.9M | 232,683 | 0.8% |
| Verisk Analytics Inc.(VRSK) | COM | 92345Y106 | $41.7M | 133,971 | 0.8% |
| Berkshire Hathaway Inc. A(BRK/A) | COM | 084670108 | $37.9M | 52 | 0.8% |
| Colliers International Group I(CIGI) | COM | 194693107 | $32.3M | 247,663 | 0.6% |
| Cbiz, Inc.(CBZ) | COM | 124805102 | $31.0M | 432,377 | 0.6% |
| Watsco, Inc.(WSO) | COM | 942622200 | $30.9M | 69,975 | 0.6% |
| Roper Technologies, Inc.(ROP) | COM | 776696106 | $27.8M | 48,994 | 0.6% |
| Pool Corp(POOL) | COM | 73278L105 | $27.7M | 95,020 | 0.6% |
| Dutch Brothers Inc Cl A(BROS) | COM | 26701L100 | $27.6M | 403,490 | 0.6% |
| Avery Dennison Corp(AVY) | COM | 053611109 | $25.1M | 143,215 | 0.5% |
| Brookfield Infrastructure Corp(BIPC) | COM | 11276H106 | $23.6M | 566,973 | 0.5% |
| Trisura Group Ltd.(TRRSF) | COM | 89679A209 | $22.8M | 690,681 | 0.5% |
| Choice Hotels International, I(CHH) | COM | 169905106 | $22.6M | 178,443 | 0.5% |
| Agilent Technologies Inc(A) | COM | 00846U101 | $21.3M | 180,880 | 0.4% |
| Frontdoor, Inc.(FTDR) | COM | 35905A109 | $20.1M | 340,252 | 0.4% |