Tom Gayner – Markel Group Inc

Period:: Q1 2026
Portfolio date:: Mar 31, 2026
No. of stocks:: 126
Portfolio value:: $11,938,877,000
Filed:: May 1, 2026
Style:: Insurance / Compounder

Hist	Stock	Activity	Share change	% change to portfolio
Q1 2026filed May 1, 26128 exited
≡	GOOG – ALPHABET INC	Sell	−2,452,630	−6.14
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Sell	−590	−3.55
≡	AMZN – AMAZON COM INC	Sell	−1,882,328	−3.46
≡	DE – DEERE & CO	Sell	−877,900	−3.26
≡	BN – BROOKFIELD CORP	Sell	−8,315,403	−3.04
≡	V – VISA INC	Sell	−923,135	−2.58
≡	AAPL – APPLE INC	Sell	−1,179,090	−2.56
≡	GS – GOLDMAN SACHS GROUP INC	Sell	−335,710	−2.35
≡	ADI – ANALOG DEVICES INC	Sell	−1,013,245	−2.19
≡	MSFT – MICROSOFT CORP	Sell	−512,061	−1.97
≡	BLK – BLACKROCK INC	Sell	−208,200	−1.78
≡	HD – HOME DEPOT INC	Sell	−643,094	−1.76
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Sell	−427,511	−1.71
≡	LPLA – LPL FINL HLDGS INC	Sell	−557,662	−1.59
≡	BX – BLACKSTONE INC	Sell	−1,194,500	−1.47
≡	KKR – KKR & CO INC	Sell	−1,433,800	−1.46
≡	CAT – CATERPILLAR INC	Sell	−318,649	−1.46
≡	WSO – WATSCO INC	Sell	−536,069	−1.44
≡	DIS – DISNEY WALT CO	Sell	−1,577,428	−1.43
≡	PGR – PROGRESSIVE CORP	Sell	−693,750	−1.26
≡	GOOGL – ALPHABET INC	Sell	−500,000	−1.25
≡	META – META PLATFORMS INC	Sell	−226,693	−1.19
≡	APO – APOLLO GLOBAL MGMT INC	Sell	−990,000	−1.14
≡	FNV – FRANCO NEV CORP	Sell	−683,500	−1.13
≡	RLI – RLI CORP	Sell	−2,201,594	−1.12
≡	MRSH – MARSH & MCLENNAN COS INC	Sell	−741,250	−1.10
≡	TXN – TEXAS INSTRS INC	Sell	−723,999	−1.00
≡	JNJ – JOHNSON & JOHNSON	Sell	−584,085	−0.96
≡	GD – GENERAL DYNAMICS CORP	Sell	−347,000	−0.93
≡	DG – DOLLAR GEN CORP NEW	Sell	−865,750	−0.92
≡	MA – MASTERCARD INCORPORATED	Sell	−187,556	−0.85
≡	MCO – MOODYS CORP	Sell	−192,794	−0.79
≡	HEI – HEICO CORP NEW	Sell	−367,442	−0.74
≡	NVR – NVR INC	Sell	−11,832	−0.69
≡	ROL – ROLLINS INC	Sell	−1,426,550	−0.68
≡	NVO – NOVO-NORDISK A S	Sell	−1,677,934	−0.68
≡	LIN – LINDE PLC	Sell	−192,700	−0.65
≡	MSCI – MSCI INC	Sell	−141,850	−0.65
≡	JPM – JPMORGAN CHASE & CO.	Sell	−252,550	−0.65
≡	SPGI – S&P GLOBAL INC	Sell	−149,690	−0.62
≡	ADM – ARCHER DANIELS MIDLAND CO	Sell	−1,335,073	−0.61
≡	ITW – ILLINOIS TOOL WKS INC	Sell	−310,649	−0.61
≡	CG – CARLYLE GROUP INC	Sell	−1,282,500	−0.60
≡	NSC – NORFOLK SOUTHN CORP	Sell	−244,500	−0.56
≡	DEO – DIAGEO PLC	Sell	−786,394	−0.54
≡	ECL – ECOLAB INC	Sell	−251,300	−0.53
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Sell	−415,650	−0.52
≡	ROK – ROCKWELL AUTOMATION INC	Sell	−147,000	−0.46
≡	ITIC – INVESTORS TITLE CO NC	Sell	−213,300	−0.42
≡	TSN – TYSON FOODS INC	Sell	−874,500	−0.41
≡	THG – HANOVER INS GROUP INC	Sell	−275,000	−0.40
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Sell	−955,453	−0.40
≡	SBUX – STARBUCKS CORP	Sell	−583,318	−0.39
≡	AON – AON PLC	Sell	−132,550	−0.37
≡	ACN – ACCENTURE PLC IRELAND	Sell	−159,399	−0.34
≡	HGTY – HAGERTY INC	Sell	−3,108,000	−0.33
≡	HCA – HCA HEALTHCARE INC	Sell	−80,680	−0.30
≡	FERG – FERGUSON ENTERPRISES INC	Sell	−163,500	−0.29
≡	TMO – THERMO FISHER SCIENTIFIC INC	Sell	−62,800	−0.29
≡	VRSK – VERISK ANALYTICS INC	Sell	−153,450	−0.27
≡	YUM – YUM BRANDS INC	Sell	−226,451	−0.27
≡	COST – COSTCO WHSL CORP NEW	Sell	−39,150	−0.27
≡	ABNB – AIRBNB INC	Sell	−240,289	−0.26
≡	ALL – ALLSTATE CORP	Sell	−154,550	−0.26
≡	LMT – LOCKHEED MARTIN CORP	Sell	−64,513	−0.25
≡	SHW – SHERWIN WILLIAMS CO	Sell	−94,172	−0.24
≡	UNP – UNION PAC CORP	Sell	−130,178	−0.24
≡	TROW – PRICE T ROWE GROUP INC	Sell	−282,000	−0.23
≡	FDS – FACTSET RESH SYS INC	Sell	−98,873	−0.23
≡	MAR – MARRIOTT INTL INC NEW	Sell	−89,750	−0.22
≡	NKE – NIKE INC	Sell	−401,400	−0.20
≡	URI – UNITED RENTALS INC	Sell	−31,150	−0.20
≡	CMCSA – COMCAST CORP NEW	Sell	−828,780	−0.20
≡	LAMR – LAMAR ADVERTISING CO NEW	Sell	−185,000	−0.19
≡	CCK – CROWN HLDGS INC	Sell	−209,000	−0.17
≡	COF – CAPITAL ONE FINL CORP	Sell	−83,500	−0.16
≡	RNR – RENAISSANCERE HLDGS LTD	Sell	−67,000	−0.15
≡	PM – PHILIP MORRIS INTL INC	Sell	−114,500	−0.15
≡	BF-A – BROWN FORMAN CORP	Sell	−678,400	−0.14
≡	APD – AIR PRODS & CHEMS INC	Sell	−71,500	−0.14
≡	SHOP – SHOPIFY INC	Sell	−102,750	−0.13
≡	WFC – WELLS FARGO CO NEW	Sell	−172,450	−0.13
≡	CSCO – CISCO SYS INC	Sell	−207,500	−0.13
≡	CSX – CSX CORP	Sell	−440,000	−0.13
≡	EFX – EQUIFAX INC	Sell	−72,850	−0.13
≡	SPOT – SPOTIFY TECHNOLOGY S A	Sell	−25,900	−0.12
≡	LOW – LOWES COS INC	Sell	−61,748	−0.12
≡	BK – BANK NEW YORK MELLON CORP	Sell	−121,500	−0.11
≡	PEP – PEPSICO INC	Sell	−96,210	−0.11
≡	SCHW – SCHWAB CHARLES CORP	Sell	−129,000	−0.10
≡	CME – CME GROUP INC	Sell	−45,750	−0.10
≡	HSY – HERSHEY CO	Sell	−67,500	−0.10
≡	TGT – TARGET CORP	Sell	−125,500	−0.10
≡	FIX – COMFORT SYS USA INC	Sell	−13,000	−0.10
≡	UBER – UBER TECHNOLOGIES INC	Sell	−140,000	−0.09
≡	HXL – HEXCEL CORP NEW	Sell	−151,000	−0.09
≡	CHH – CHOICE HOTELS INTL INC	Sell	−115,500	−0.09
≡	IQV – IQVIA HLDGS INC	Sell	−46,900	−0.08
≡	CBOE – CBOE GLOBAL MKTS INC	Sell	−41,750	−0.08
≡	RTX – RTX CORPORATION	Sell	−54,600	−0.08
≡	CARR – CARRIER GLOBAL CORPORATION	Sell	−180,400	−0.08
≡	SEIC – SEI INVTS CO	Sell	−114,200	−0.07
≡	SMG – SCOTTS MIRACLE-GRO CO	Sell	−159,000	−0.07
≡	PAYX – PAYCHEX INC	Sell	−80,000	−0.07
≡	AMAT – APPLIED MATLS INC	Sell	−34,100	−0.07
≡	UNH – UNITEDHEALTH GROUP INC	Sell	−26,500	−0.07
≡	HII – HUNTINGTON INGALLS INDS INC	Sell	−25,500	−0.07
≡	SONY – SONY GROUP CORP	Sell	−335,000	−0.07
≡	BF-A – BROWN FORMAN CORP	Sell	−328,787	−0.07
≡	OTIS – OTIS WORLDWIDE CORP	Sell	−87,320	−0.06
≡	NSP – INSPERITY INC	Sell	−152,873	−0.05
≡	GHC – GRAHAM HLDGS CO	Sell	−5,200	−0.05
≡	KMX – CARMAX INC	Sell	−129,500	−0.04
≡	XOM – EXXON MOBIL CORP	Sell	−38,000	−0.04
≡	EMN – EASTMAN CHEM CO	Sell	−70,950	−0.04
≡	CNI – CANADIAN NATL RY CO	Sell	−44,500	−0.04
≡	WRB – BERKLEY W R CORP	Sell	−60,750	−0.03
≡	CP – CANADIAN PACIFIC KANSAS CITY	Sell	−50,500	−0.03
≡	AXP – AMERICAN EXPRESS CO	Sell	−10,000	−0.03
≡	BC – BRUNSWICK CORP	Sell	−47,750	−0.03
≡	AYI – ACUITY INC	Sell	−9,750	−0.03
≡	ICE – INTERCONTINENTAL EXCHANGE IN	Sell	−20,870	−0.03
≡	MGM – MGM RESORTS INTERNATIONAL	Sell	−87,500	−0.03
≡	EXP – EAGLE MATLS INC	Sell	−14,750	−0.02
≡	DPZ – DOMINOS PIZZA INC	Sell	−5,500	−0.02
≡	SYY – SYSCO CORP	Sell	−30,500	−0.02
≡	BRO – BROWN & BROWN INC	Sell	−11,000	−0.01
≡	TRU – TRANSUNION	Sell	−2,000	−0.00
Q4 2025filed Feb 6, 261 new35 added71 reduced2 exited
≡	GOOG – ALPHABET INC	Reduce 88.00%	−2,155,400	−4.10
≡	AMZN – AMAZON COM INC	Reduce 92.00%	−1,733,896	−3.08
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Add 158.00%	676,949	2.68
≡	V – VISA INC	Reduce 92.00%	−846,985	−2.34
≡	AAPL – APPLE INC	Reduce 96.00%	−1,130,890	−2.33
≡	ADI – ANALOG DEVICES INC	Add 9111.00%	1,002,245	2.17
≡	MSFT – MICROSOFT CORP	Reduce 95.00%	−484,842	−2.05
≡	GS – GOLDMAN SACHS GROUP INC	Reduce 93.00%	−312,060	−2.00
≡	BLK – BLACKROCK INC	Reduce 94.00%	−196,200	−1.87
≡	BX – BLACKSTONE INC	Reduce 97.00%	−1,160,000	−1.61
≡	WSO – WATSCO INC	Reduce 92.00%	−481,969	−1.61
≡	KKR – KKR & CO INC	Reduce 99.00%	−1,415,800	−1.49
≡	LPLA – LPL FINL HLDGS INC	Reduce 100.00%	−548,743	−1.48
≡	META – META PLATFORMS INC	Reduce 92.00%	−237,061	−1.43
≡	HD – HOME DEPOT INC	Reduce 57.00%	−366,188	−1.36
≡	BN – BROOKFIELD CORP	Reduce 14.00%	−785,397	−1.34
≡	PGR – PROGRESSIVE CORP	Reduce 91.00%	−633,750	−1.28
≡	AXP – AMERICAN EXPRESS CO	Reduce 98.00%	−464,250	−1.25
≡	CAT – CATERPILLAR INC	Reduce 97.00%	−308,648	−1.19
≡	MRSH – MARSH & MCLENNAN COS INC	Reduce 97.00%	−714,000	−1.17
≡	LOW – LOWES COS INC	Add 989.00%	610,984	1.17
≡	TXN – TEXAS INSTRS INC	Reduce 100.00%	−723,998	−1.08
≡	RLI – RLI CORP	Reduce 91.00%	−2,008,644	−1.07
≡	DIS – DISNEY WALT CO	Reduce 71.00%	−1,123,191	−1.05
≡	APO – APOLLO GLOBAL MGMT INC	Reduce 98.00%	−967,500	−1.04
≡	SCHW – SCHWAB CHARLES CORP	Reduce 90.00%	−1,106,800	−0.85
≡	GD – GENERAL DYNAMICS CORP	Reduce 87.00%	−303,000	−0.84
≡	JNJ – JOHNSON & JOHNSON	Reduce 95.00%	−557,370	−0.83
≡	GOOGL – ALPHABET INC	Reduce 86.00%	−428,000	−0.81
≡	MA – MASTERCARD INCORPORATED	Reduce 89.00%	−167,572	−0.77
≡	NVR – NVR INC	Reduce 99.00%	−11,547	−0.75
≡	HEI – HEICO CORP NEW	Reduce 97.00%	−355,240	−0.73
≡	DG – DOLLAR GEN CORP NEW	Reduce 100.00%	−862,250	−0.72
≡	LIN – LINDE PLC	Reduce 96.00%	−178,050	−0.69
≡	MCO – MOODYS CORP	Reduce 89.00%	−171,698	−0.66
≡	MSCI – MSCI INC	Reduce 99.00%	−140,850	−0.65
≡	ROL – ROLLINS INC	Reduce 96.00%	−1,350,825	−0.64
≡	CG – CARLYLE GROUP INC	Reduce 97.00%	−1,238,000	−0.63
≡	ITW – ILLINOIS TOOL WKS INC	Reduce 95.00%	−293,798	−0.62
≡	SPGI – S&P GLOBAL INC	Reduce 99.00%	−148,690	−0.59
≡	ADM – ARCHER DANIELS MIDLAND CO	Reduce 87.00%	−1,164,346	−0.57
≡	ECL – ECOLAB INC	Reduce 91.00%	−228,300	−0.51
≡	NSC – NORFOLK SOUTHN CORP	Reduce 87.00%	−198,500	−0.49
≡	FDX – FEDEX CORP	Sell	−209,000	−0.40
≡	THG – HANOVER INS GROUP INC	Reduce 98.00%	−269,000	−0.40
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Reduce 98.00%	−346,750	−0.40
≡	ROK – ROCKWELL AUTOMATION INC	Reduce 95.00%	−139,100	−0.39
≡	SBUX – STARBUCKS CORP	Reduce 93.00%	−542,818	−0.37
≡	AON – AON PLC	Reduce 99.00%	−126,800	−0.37
≡	TSN – TYSON FOODS INC	Reduce 99.00%	−828,500	−0.36
≡	META – META PLATFORMS INC	Reduce 12.00%	−31,978	−0.35
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Add 13.00%	66	0.34
≡	ACN – ACCENTURE PLC IRELAND	Add 15939800.00%	159,398	0.34
≡	VRSK – VERISK ANALYTICS INC	Reduce 98.00%	−150,950	−0.31
≡	TROW – PRICE T ROWE GROUP INC	Reduce 89.00%	−250,000	−0.21
≡	NKE – NIKE INC	Reduce 89.00%	−355,400	−0.20
≡	DEO – DIAGEO PLC	Reduce 25.00%	−196,080	−0.20
≡	UNP – UNION PAC CORP	Reduce 90.00%	−104,578	−0.20
≡	CMCSA – COMCAST CORP NEW	Reduce 84.00%	−695,680	−0.18
≡	RTX – RTX CORPORATION	Add 210.00%	114,800	0.17
≡	FDS – FACTSET RESH SYS INC	Reduce 75.00%	−70,720	−0.16
≡	NVO – NOVO-NORDISK A S	Add 43.00%	501,125	0.15
≡	CCK – CROWN HLDGS INC	Reduce 98.00%	−183,500	−0.14
≡	RNR – RENAISSANCERE HLDGS LTD	Reduce 96.00%	−64,000	−0.13
≡	COF – CAPITAL ONE FINL CORP	Reduce 91.00%	−76,000	−0.13
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Add 18.00%	62,900	0.12
≡	BF-A – BROWN FORMAN CORP	Reduce 76.00%	−513,800	−0.11
≡	WFC – WELLS FARGO CO NEW	Reduce 81.00%	−140,450	−0.09
≡	TGT – TARGET CORP	Add 1573.00%	118,000	0.09
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Add 30.00%	283,047	0.08
≡	TMO – THERMO FISHER SCIENTIFIC INC	Add 13.00%	7,000	0.07
≡	SMG – SCOTTS MIRACLE-GRO CO	Reduce 94.00%	−150,000	−0.07
≡	MAR – MARRIOTT INTL INC NEW	Add 23.00%	16,500	0.07
≡	TRU – TRANSUNION	Reduce 98.00%	−96,050	−0.07
≡	CARR – CARRIER GLOBAL CORPORATION	Reduce 70.00%	−125,800	−0.06
≡	HXL – HEXCEL CORP NEW	Reduce 75.00%	−113,000	−0.05
≡	OTIS – OTIS WORLDWIDE CORP	Reduce 69.00%	−60,020	−0.05
≡	CSX – CSX CORP	Add 54.00%	155,000	0.05
≡	KMX – CARMAX INC	Reduce 95.00%	−122,500	−0.05
≡	BN – BROOKFIELD CORP	Add 50.00%	2,771,800	−0.04
≡	BF-A – BROWN FORMAN CORP	Reduce 56.00%	−183,387	−0.04
≡	HCA – HCA HEALTHCARE INC	Add 7.00%	5,467	0.04
≡	ADBE – ADOBE INC	Sell	−14,000	−0.04
≡	SEIC – SEI INVTS CO	Reduce 48.00%	−55,200	−0.04
≡	ABNB – AIRBNB INC	Add 6.00%	13,156	0.04
≡	EMN – EASTMAN CHEM CO	Reduce 94.00%	−66,950	−0.03
≡	FNV – FRANCO NEV CORP	Add 13.00%	78,000	0.03
≡	XOM – EXXON MOBIL CORP	Add 1167.00%	35,000	0.03
≡	CME – CME GROUP INC	Add 43.00%	13,750	0.03
≡	CBOE – CBOE GLOBAL MKTS INC	Add 46.00%	13,250	0.03
≡	AMAT – APPLIED MATLS INC	Add 30.00%	7,850	0.03
≡	CCK – CROWN HLDGS INC	Add 12.00%	22,500	0.03
≡	CSCO – CISCO SYS INC	Reduce 29.00%	−59,500	−0.02
≡	FERG – FERGUSON ENTERPRISES INC	Add 11.00%	16,500	0.02
≡	HII – HUNTINGTON INGALLS INDS INC	Add 24.00%	5,000	0.02
≡	PAYX – PAYCHEX INC	Reduce 12.00%	−10,000	−0.02
≡	ICE – INTERCONTINENTAL EXCHANGE IN	Add 271.00%	15,250	0.02
≡	UNP – UNION PAC CORP	Add 13.00%	14,500	0.02
≡	LAMR – LAMAR ADVERTISING CO NEW	Add 9.00%	15,000	0.02
≡	CNI – CANADIAN NATL RY CO	Add 78.00%	19,500	0.02
≡	HSY – HERSHEY CO	Add 24.00%	13,000	0.02
≡	BC – BRUNSWICK CORP	Add 43.00%	14,250	0.01
≡	CP – CANADIAN PACIFIC KANSAS CITY	Add 63.00%	19,500	0.01
≡	NSC – NORFOLK SOUTHN CORP	Add 7.00%	17,000	0.01
≡	UBER – UBER TECHNOLOGIES INC	Add 13.00%	16,500	−0.01
≡	BRO – BROWN & BROWN INC	Buy	11,000	0.01
≡	NSP – INSPERITY INC	Add 16.00%	21,145	−0.01
≡	APD – AIR PRODS & CHEMS INC	Add 10.00%	6,500	−0.00
≡	ADI – ANALOG DEVICES INC	Reduce 9.00%	−1,000	−0.00
Q3 2025filed Oct 31, 25208 new
≡	GOOG – ALPHABET INC	Buy	2,452,630	4.85
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Buy	1,104,460	4.51
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Buy	590	3.61
≡	AMZN – AMAZON COM INC	Buy	1,882,328	3.35
≡	DE – DEERE & CO	Buy	877,900	3.26
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Buy	524	3.21
≡	BN – BROOKFIELD CORP	Buy	5,543,603	3.09
≡	V – VISA INC	Buy	923,135	2.56
≡	AAPL – APPLE INC	Buy	1,179,090	2.44
≡	ADI – ANALOG DEVICES INC	Buy	1,156,671	2.31
≡	GS – GOLDMAN SACHS GROUP INC	Buy	335,710	2.17
≡	MSFT – MICROSOFT CORP	Buy	508,461	2.14
≡	HD – HOME DEPOT INC	Buy	643,094	2.11
≡	BLK – BLACKROCK INC	Buy	208,200	1.97
≡	BN – BROOKFIELD CORP	Buy	3,172,138	1.77
≡	BRK.B – BERKSHIRE HATHAWAY INC DEL	Buy	427,511	1.74
≡	WSO – WATSCO INC	Buy	523,569	1.72
≡	BX – BLACKSTONE INC	Buy	1,194,500	1.66
≡	META – META PLATFORMS INC	Buy	258,671	1.54
≡	KKR – KKR & CO INC	Buy	1,433,800	1.51
≡	LPLA – LPL FINL HLDGS INC	Buy	551,032	1.49
≡	DIS – DISNEY WALT CO	Buy	1,577,428	1.47
≡	PGR – PROGRESSIVE CORP	Buy	693,750	1.39
≡	LOW – LOWES COS INC	Buy	664,982	1.36
≡	AXP – AMERICAN EXPRESS CO	Buy	474,250	1.28
≡	CAT – CATERPILLAR INC	Buy	318,649	1.23
≡	MRSH – MARSH & MCLENNAN COS INC	Buy	734,500	1.20
≡	RLI – RLI CORP	Buy	2,201,594	1.17
≡	FNV – FRANCO NEV CORP	Buy	605,500	1.10
≡	TXN – TEXAS INSTRS INC	Buy	723,999	1.08
≡	APO – APOLLO GLOBAL MGMT INC	Buy	990,000	1.07
≡	GOOGL – ALPHABET INC	Buy	500,000	0.99
≡	GD – GENERAL DYNAMICS CORP	Buy	347,000	0.96
≡	SCHW – SCHWAB CHARLES CORP	Buy	1,235,800	0.96
≡	HD – HOME DEPOT INC	Buy	276,906	0.91
≡	JNJ – JOHNSON & JOHNSON	Buy	584,085	0.88
≡	MA – MASTERCARD INCORPORATED	Buy	187,556	0.87
≡	NVR – NVR INC	Buy	11,722	0.76
≡	HEI – HEICO CORP NEW	Buy	367,442	0.76
≡	MCO – MOODYS CORP	Buy	192,794	0.75
≡	DG – DOLLAR GEN CORP NEW	Buy	865,750	0.73
≡	LIN – LINDE PLC	Buy	185,450	0.71
≡	ROL – ROLLINS INC	Buy	1,413,300	0.67
≡	ITW – ILLINOIS TOOL WKS INC	Buy	310,649	0.66
≡	MSCI – MSCI INC	Buy	141,850	0.65
≡	CG – CARLYLE GROUP INC	Buy	1,282,500	0.65
≡	ADM – ARCHER DANIELS MIDLAND CO	Buy	1,335,073	0.65
≡	JPM – JPMORGAN CHASE & CO.	Buy	252,550	0.65
≡	DEO – DIAGEO PLC	Buy	781,394	0.61
≡	SPGI – S&P GLOBAL INC	Buy	149,690	0.59
≡	GOOG – ALPHABET INC	Buy	297,230	0.59
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Buy	1,238,500	0.57
≡	ECL – ECOLAB INC	Buy	251,300	0.56
≡	NSC – NORFOLK SOUTHN CORP	Buy	227,500	0.55
≡	NVO – NOVO-NORDISK A S	Buy	1,191,840	0.54
≡	NVO – NOVO-NORDISK A S	Buy	1,176,809	0.53
≡	ITIC – INVESTORS TITLE CO NC	Buy	213,300	0.46
≡	DEO – DIAGEO PLC	Buy	585,314	0.45
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Buy	955,453	0.44
≡	DIS – DISNEY WALT CO	Buy	454,237	0.42
≡	ROK – ROCKWELL AUTOMATION INC	Buy	147,000	0.42
≡	THG – HANOVER INS GROUP INC	Buy	275,000	0.41
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Buy	352,750	0.40
≡	SBUX – STARBUCKS CORP	Buy	583,318	0.40
≡	FDX – FEDEX CORP	Buy	209,000	0.40
≡	AON – AON PLC	Buy	128,300	0.37
≡	TSN – TYSON FOODS INC	Buy	838,500	0.37
≡	ACN – ACCENTURE PLC IRELAND	Buy	159,399	0.32
≡	VRSK – VERISK ANALYTICS INC	Buy	153,450	0.31
≡	HGTY – HAGERTY INC	Buy	3,108,000	0.30
≡	COST – COSTCO WHSL CORP NEW	Buy	39,150	0.29
≡	YUM – YUM BRANDS INC	Buy	226,451	0.28
≡	ALL – ALLSTATE CORP	Buy	154,550	0.27
≡	FERG – FERGUSON ENTERPRISES INC	Buy	147,000	0.27
≡	SHW – SHERWIN WILLIAMS CO	Buy	94,172	0.26
≡	AMZN – AMAZON COM INC	Buy	148,432	0.26
≡	HCA – HCA HEALTHCARE INC	Buy	75,213	0.26
≡	LMT – LOCKHEED MARTIN CORP	Buy	62,263	0.25
≡	URI – UNITED RENTALS INC	Buy	31,150	0.24
≡	TROW – PRICE T ROWE GROUP INC	Buy	282,000	0.23
≡	RTX – RTX CORPORATION	Buy	169,400	0.23
≡	NKE – NIKE INC	Buy	401,400	0.23
≡	ABNB – AIRBNB INC	Buy	227,133	0.22
≡	UNP – UNION PAC CORP	Buy	115,678	0.22
≡	TMO – THERMO FISHER SCIENTIFIC INC	Buy	55,800	0.22
≡	FDS – FACTSET RESH SYS INC	Buy	93,720	0.22
≡	CMCSA – COMCAST CORP NEW	Buy	828,780	0.21
≡	V – VISA INC	Buy	76,150	0.21
≡	LAMR – LAMAR ADVERTISING CO NEW	Buy	170,000	0.17
≡	MAR – MARRIOTT INTL INC NEW	Buy	73,250	0.15
≡	GS – GOLDMAN SACHS GROUP INC	Buy	23,650	0.15
≡	EFX – EQUIFAX INC	Buy	72,850	0.15
≡	PM – PHILIP MORRIS INTL INC	Buy	114,500	0.15
≡	BF-A – BROWN FORMAN CORP	Buy	678,400	0.15
≡	SPOT – SPOTIFY TECHNOLOGY S A	Buy	25,900	0.15
≡	CCK – CROWN HLDGS INC	Buy	186,500	0.15
≡	COF – CAPITAL ONE FINL CORP	Buy	83,500	0.14
≡	APD – AIR PRODS & CHEMS INC	Buy	65,000	0.14
≡	GOOGL – ALPHABET INC	Buy	72,000	0.14
≡	RNR – RENAISSANCERE HLDGS LTD	Buy	67,000	0.14
≡	WSO – WATSCO INC	Buy	41,600	0.14
≡	META – META PLATFORMS INC	Buy	21,610	0.13
≡	LOW – LOWES COS INC	Buy	61,748	0.13
≡	SHOP – SHOPIFY INC	Buy	102,750	0.12
≡	GD – GENERAL DYNAMICS CORP	Buy	44,000	0.12
≡	PGR – PROGRESSIVE CORP	Buy	60,000	0.12
≡	WFC – WELLS FARGO CO NEW	Buy	172,450	0.12
≡	CSCO – CISCO SYS INC	Buy	207,500	0.12
≡	BLK – BLACKROCK INC	Buy	12,000	0.11
≡	PEP – PEPSICO INC	Buy	96,210	0.11
≡	BK – BANK NEW YORK MELLON CORP	Buy	121,500	0.11
≡	RLI – RLI CORP	Buy	192,950	0.10
≡	CHH – CHOICE HOTELS INTL INC	Buy	115,500	0.10
≡	SCHW – SCHWAB CHARLES CORP	Buy	129,000	0.10
≡	AAPL – APPLE INC	Buy	48,200	0.10
≡	MSFT – MICROSOFT CORP	Buy	23,619	0.10
≡	UBER – UBER TECHNOLOGIES INC	Buy	123,500	0.10
≡	MA – MASTERCARD INCORPORATED	Buy	19,984	0.09
≡	TGT – TARGET CORP	Buy	125,500	0.09
≡	CARR – CARRIER GLOBAL CORPORATION	Buy	180,400	0.09
≡	FIX – COMFORT SYS USA INC	Buy	13,000	0.09
≡	ADM – ARCHER DANIELS MIDLAND CO	Buy	170,727	0.08
≡	HSY – HERSHEY CO	Buy	54,500	0.08
≡	PAYX – PAYCHEX INC	Buy	80,000	0.08
≡	CSCO – CISCO SYS INC	Buy	148,000	0.08
≡	CSX – CSX CORP	Buy	285,000	0.08
≡	MCO – MOODYS CORP	Buy	21,096	0.08
≡	SEIC – SEI INVTS CO	Buy	114,200	0.08
≡	SONY – SONY GROUP CORP	Buy	335,000	0.08
≡	HXL – HEXCEL CORP NEW	Buy	151,000	0.08
≡	UNH – UNITEDHEALTH GROUP INC	Buy	26,500	0.07
≡	RTX – RTX CORPORATION	Buy	54,600	0.07
≡	SMG – SCOTTS MIRACLE-GRO CO	Buy	159,000	0.07
≡	IQV – IQVIA HLDGS INC	Buy	46,900	0.07
≡	BF-A – BROWN FORMAN CORP	Buy	328,787	0.07
≡	PAYX – PAYCHEX INC	Buy	70,000	0.07
≡	NSC – NORFOLK SOUTHN CORP	Buy	29,000	0.07
≡	CME – CME GROUP INC	Buy	32,000	0.07
≡	TRU – TRANSUNION	Buy	98,050	0.07
≡	OTIS – OTIS WORLDWIDE CORP	Buy	87,320	0.06
≡	CBOE – CBOE GLOBAL MKTS INC	Buy	28,500	0.06
≡	FDS – FACTSET RESH SYS INC	Buy	23,000	0.05
≡	NSP – INSPERITY INC	Buy	131,728	0.05
≡	ECL – ECOLAB INC	Buy	23,000	0.05
≡	GHC – GRAHAM HLDGS CO	Buy	5,200	0.05
≡	HII – HUNTINGTON INGALLS INDS INC	Buy	20,500	0.05
≡	BX – BLACKSTONE INC	Buy	34,500	0.05
≡	KMX – CARMAX INC	Buy	129,500	0.05
≡	AMAT – APPLIED MATLS INC	Buy	26,250	0.04
≡	SEIC – SEI INVTS CO	Buy	59,000	0.04
≡	JNJ – JOHNSON & JOHNSON	Buy	26,715	0.04
≡	ADBE – ADOBE INC	Buy	14,000	0.04
≡	CAT – CATERPILLAR INC	Buy	10,001	0.04
≡	WRB – BERKLEY W R CORP	Buy	60,750	0.04
≡	EMN – EASTMAN CHEM CO	Buy	70,950	0.04
≡	BF-A – BROWN FORMAN CORP	Buy	164,600	0.04
≡	ITW – ILLINOIS TOOL WKS INC	Buy	16,851	0.04
≡	CMCSA – COMCAST CORP NEW	Buy	133,100	0.03
≡	MRSH – MARSH & MCLENNAN COS INC	Buy	20,500	0.03
≡	BF-A – BROWN FORMAN CORP	Buy	145,400	0.03
≡	ROL – ROLLINS INC	Buy	62,475	0.03
≡	LIN – LINDE PLC	Buy	7,400	0.03
≡	EXP – EAGLE MATLS INC	Buy	14,750	0.03
≡	SBUX – STARBUCKS CORP	Buy	40,500	0.03
≡	AYI – ACUITY INC	Buy	9,750	0.03
≡	AXP – AMERICAN EXPRESS CO	Buy	10,000	0.03
≡	TROW – PRICE T ROWE GROUP INC	Buy	32,000	0.03
≡	CARR – CARRIER GLOBAL CORPORATION	Buy	54,600	0.03
≡	NKE – NIKE INC	Buy	46,000	0.03
≡	HEI – HEICO CORP NEW	Buy	12,202	0.03
≡	MGM – MGM RESORTS INTERNATIONAL	Buy	87,500	0.02
≡	APO – APOLLO GLOBAL MGMT INC	Buy	22,500	0.02
≡	CG – CARLYLE GROUP INC	Buy	44,500	0.02
≡	ROK – ROCKWELL AUTOMATION INC	Buy	7,900	0.02
≡	ADI – ANALOG DEVICES INC	Buy	11,000	0.02
≡	WFC – WELLS FARGO CO NEW	Buy	32,000	0.02
≡	UNP – UNION PAC CORP	Buy	11,100	0.02
≡	SYY – SYSCO CORP	Buy	30,500	0.02
≡	OTIS – OTIS WORLDWIDE CORP	Buy	27,300	0.02
≡	HXL – HEXCEL CORP NEW	Buy	38,000	0.02
≡	DPZ – DOMINOS PIZZA INC	Buy	5,500	0.02
≡	CNI – CANADIAN NATL RY CO	Buy	25,000	0.02
≡	KKR – KKR & CO INC	Buy	18,000	0.02
≡	CP – CANADIAN PACIFIC KANSAS CITY	Buy	31,000	0.02
≡	BC – BRUNSWICK CORP	Buy	33,500	0.02
≡	COF – CAPITAL ONE FINL CORP	Buy	7,500	0.01
≡	NVR – NVR INC	Buy	175	0.01
≡	THG – HANOVER INS GROUP INC	Buy	6,000	0.01
≡	ICE – INTERCONTINENTAL EXCHANGE IN	Buy	5,620	0.01
≡	FDX – FEDEX CORP	Buy	4,000	0.01
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Buy	6,000	0.01
≡	LPLA – LPL FINL HLDGS INC	Buy	2,289	0.01
≡	RNR – RENAISSANCERE HLDGS LTD	Buy	3,000	0.01
≡	TGT – TARGET CORP	Buy	7,500	0.01
≡	VRSK – VERISK ANALYTICS INC	Buy	2,500	0.01
≡	MSCI – MSCI INC	Buy	1,000	0.00
≡	TSN – TYSON FOODS INC	Buy	10,000	0.00
≡	AON – AON PLC	Buy	1,500	0.00
≡	SMG – SCOTTS MIRACLE-GRO CO	Buy	9,000	0.00
≡	SPGI – S&P GLOBAL INC	Buy	1,000	0.00
≡	DG – DOLLAR GEN CORP NEW	Buy	3,500	0.00
≡	XOM – EXXON MOBIL CORP	Buy	3,000	0.00
≡	KMX – CARMAX INC	Buy	7,000	0.00
≡	CCK – CROWN HLDGS INC	Buy	3,000	0.00
≡	EMN – EASTMAN CHEM CO	Buy	4,000	0.00
≡	TRU – TRANSUNION	Buy	3,000	0.00
≡	ACN – ACCENTURE PLC IRELAND	Buy	1	0.00
≡	TXN – TEXAS INSTRS INC	Buy	1	0.00
Q3 2024filed Nov 1, 2492 exited
≡	GOOG – ALPHABET INC	Sell	−2,452,630	−5.59
≡	BRK-B – BERKSHIRE HATHAWAY INC DEL	Sell	−524	−3.98
≡	DE – DEERE & CO	Sell	−845,350	−3.92
≡	BN – BROOKFIELD CORP	Sell	−5,543,603	−2.86
≡	HD – HOME DEPOT INC	Sell	−643,094	−2.75
≡	MSFT – MICROSOFT CORP	Sell	−483,861	−2.69
≡	BRK-B – BERKSHIRE HATHAWAY INC DEL	Sell	−427,511	−2.16
≡	BLK – BLACKROCK INC	Sell	−208,200	−2.04
≡	DIS – DISNEY WALT CO	Sell	−1,577,428	−1.95
≡	GSCE – GOLDMAN SACHS GROUP INC	Sell	−335,710	−1.89
≡	BX – BLACKSTONE INC	Sell	−1,194,500	−1.84
≡	NVO – NOVO-NORDISK A S	Sell	−958,160	−1.70
≡	LPLA – LPL FINL HLDGS INC	Sell	−479,502	−1.66
≡	META – META PLATFORMS INC	Sell	−249,371	−1.56
≡	APO – APOLLO GLOBAL MGMT INC	Sell	−990,000	−1.45
≡	AXP – AMERICAN EXPRESS CO	Sell	−474,250	−1.36
≡	GD – GENERAL DYNAMICS CORP	Sell	−347,000	−1.25
≡	CAT – CATERPILLAR INC	Sell	−301,499	−1.25
≡	DGEAF – DIAGEO PLC	Sell	−781,394	−1.22
≡	DG – DOLLAR GEN CORP NEW	Sell	−693,750	−1.14
≡	GOOGL – ALPHABET INC	Sell	−483,000	−1.09
≡	NVR – NVR INC	Sell	−11,354	−1.07
≡	JNJ – JOHNSON & JOHNSON	Sell	−584,085	−1.06
≡	MA – MASTERCARD INCORPORATED	Sell	−187,556	−1.03
≡	MCO – MOODYS CORP	Sell	−192,794	−1.01
≡	ITW – ILLINOIS TOOL WKS INC	Sell	−310,649	−0.91
≡	MSCI – MSCI INC	Sell	−141,850	−0.85
≡	HEI – HEICO CORP NEW	Sell	−367,442	−0.81
≡	ECL – ECOLAB INC	Sell	−251,300	−0.74
≡	LIN – LINDE PLC	Sell	−136,100	−0.74
≡	FDX – FEDEX CORP	Sell	−177,000	−0.66
≡	CG – CARLYLE GROUP INC	Sell	−1,282,500	−0.64
≡	JPM – JPMORGAN CHASE & CO	Sell	−252,550	−0.63
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Sell	−273,500	−0.60
≡	NSC – NORFOLK SOUTHN CORP	Sell	−200,500	−0.53
≡	ITIC – INVESTORS TITLE CO NC	Sell	−213,300	−0.48
≡	FDS – FACTSET RESH SYS INC	Sell	−93,720	−0.48
≡	CMCSA – COMCAST CORP NEW	Sell	−948,141	−0.46
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Sell	−955,453	−0.45
≡	AON – AON PLC	Sell	−112,450	−0.41
≡	HGTY – HAGERTY INC	Sell	−3,000,000	−0.39
≡	BF-B – BROWN FORMAN CORP	Sell	−678,400	−0.37
≡	THG – HANOVER INS GROUP INC	Sell	−234,000	−0.36
≡	FNV – FRANCO NEV CORP	Sell	−245,000	−0.36
≡	AMZN – AMAZON COM INC	Sell	−148,432	−0.36
≡	LMT – LOCKHEED MARTIN CORP	Sell	−56,363	−0.33
≡	NKE – NIKE INC	Sell	−342,900	−0.32
≡	ALL – ALLSTATE CORP	Sell	−154,550	−0.31
≡	EFX – EQUIFAX INC	Sell	−97,850	−0.29
≡	MMM – 3M CO	Sell	−212,750	−0.27
≡	CABO – CABLE ONE INC	Sell	−53,800	−0.24
≡	PEP – PEPSICO INC	Sell	−96,210	−0.20
≡	BF-B – BROWN FORMAN CORP	Sell	−328,787	−0.18
≡	CCK – CROWN HLDGS INC	Sell	−186,500	−0.17
≡	FERG – FERGUSON PLC NEW	Sell	−70,500	−0.17
≡	LOW – LOWES COS INC	Sell	−61,748	−0.17
≡	CHH – CHOICE HOTELS INTL INC	Sell	−110,500	−0.16
≡	IQV – IQVIA HLDGS INC	Sell	−58,726	−0.15
≡	CARR – CARRIER GLOBAL CORPORATION	Sell	−180,400	−0.14
≡	LAMR – LAMAR ADVERTISING CO NEW	Sell	−94,000	−0.14
≡	ADM – ARCHER DANIELS MIDLAND CO	Sell	−170,727	−0.13
≡	AAPL – APPLE INC	Sell	−48,200	−0.13
≡	AMT – AMERICAN TOWER CORP NEW	Sell	−50,910	−0.12
≡	APD – AIR PRODS & CHEMS INC	Sell	−38,000	−0.12
≡	CE – CELANESE CORP DEL	Sell	−71,800	−0.12
≡	KMX – CARMAX INC	Sell	−129,500	−0.12
≡	PAYX – PAYCHEX INC	Sell	−80,000	−0.12
≡	HXL – HEXCEL CORP NEW	Sell	−151,000	−0.12
≡	CSCO – CISCO SYS INC	Sell	−194,000	−0.11
≡	GPK – GRAPHIC PACKAGING HLDG CO	Sell	−334,725	−0.11
≡	OTIS – OTIS WORLDWIDE CORP	Sell	−87,320	−0.10
≡	OI – O-I GLASS INC	Sell	−674,000	−0.09
≡	BK – BANK NEW YORK MELLON CORP	Sell	−121,500	−0.09
≡	EMN – EASTMAN CHEM CO	Sell	−70,950	−0.09
≡	EA – ELECTRONIC ARTS INC	Sell	−49,800	−0.09
≡	MAR – MARRIOTT INTL INC NEW	Sell	−22,000	−0.07
≡	NSP – INSPERITY INC	Sell	−52,906	−0.06
≡	CBRL – CRACKER BARREL OLD CTRY STOR	Sell	−105,000	−0.05
≡	MRSH – MARSH & MCLENNAN COS INC	Sell	−20,500	−0.05
≡	FIX – COMFORT SYS USA INC	Sell	−13,000	−0.05
≡	HSY – HERSHEY CO	Sell	−21,500	−0.05
≡	GHC – GRAHAM HLDGS CO	Sell	−5,200	−0.05
≡	WRB – BERKLEY W R CORP	Sell	−40,500	−0.04
≡	BALL – BALL CORP	Sell	−51,000	−0.04
≡	CVS – CVS HEALTH CORP	Sell	−45,000	−0.03
≡	IT – GARTNER INC	Sell	−5,700	−0.03
≡	ADI – ANALOG DEVICES INC	Sell	−11,000	−0.03
≡	KKR – KKR & CO INC	Sell	−18,000	−0.02
≡	INTU – INTUIT	Sell	−2,720	−0.02
≡	CSGP – COSTAR GROUP INC	Sell	−18,600	−0.02
≡	HGTY – HAGERTY INC	Sell	−540,000	−0.01
≡	BUD – ANHEUSER BUSCH INBEV SA/NV	Sell	−11,000	−0.01
Q2 2024filed Aug 2, 241 new20 added60 reduced41 exited
≡	GOOG – ALPHABET INC	Reduce 88.00%	−2,155,400	−3.01
≡	AAPL – APPLE INC	Add 2346.00%	1,130,890	3.00
≡	AMZN – AMAZON COM INC	Reduce 92.00%	−1,733,896	−2.99
≡	V – VISA INC	Sell	−923,135	−2.54
≡	BRK-B – BERKSHIRE HATHAWAY INC DEL	Reduce 61.00%	−676,949	−2.42
≡	WSO-B – WATSCO INC	Sell	−524,650	−2.24
≡	ADI – ANALOG DEVICES INC	Reduce 99.00%	−1,145,471	−2.22
≡	MSFT – MICROSOFT CORP	Reduce 95.00%	−455,592	−1.86
≡	RLI – RLI CORP	Sell	−1,100,797	−1.61
≡	BLK – BLACKROCK INC	Reduce 94.00%	−196,200	−1.59
≡	BX – BLACKSTONE INC	Reduce 97.00%	−1,160,000	−1.49
≡	PGR – PROGRESSIVE CORP	Sell	−693,750	−1.41
≡	KKR – KKR & CO INC	Reduce 99.00%	−1,415,800	−1.40
≡	DIS – DISNEY WALT CO	Reduce 71.00%	−1,123,191	−1.34
≡	LOW – LOWES COS INC	Reduce 90.00%	−539,984	−1.34
≡	MRSH – MARSH & MCLENNAN COS INC	Reduce 97.00%	−653,000	−1.31
≡	GSCE – GOLDMAN SACHS GROUP INC	Reduce 93.00%	−312,060	−1.25
≡	HD – HOME DEPOT INC	Reduce 57.00%	−366,188	−1.25
≡	TXN – TEXAS INSTRS INC	Sell	−723,999	−1.24
≡	BRK-B – BERKSHIRE HATHAWAY INC DEL	Add 13.00%	66	1.21
≡	LPLA – LPL FINL HLDGS INC	Reduce 99.00%	−449,713	−1.17
≡	APO – APOLLO GLOBAL MGMT INC	Reduce 98.00%	−967,500	−1.06
≡	META – META PLATFORMS INC	Reduce 91.00%	−224,461	−1.04
≡	AXP – AMERICAN EXPRESS CO	Reduce 98.00%	−464,250	−1.04
≡	CAT – CATERPILLAR INC	Reduce 97.00%	−287,598	−1.03
≡	DG – DOLLAR GEN CORP NEW	Reduce 99.00%	−668,250	−1.03
≡	NVO – NOVO-NORDISK A S	Add 24.00%	233,680	0.90
≡	NVR – NVR INC	Reduce 98.00%	−10,999	−0.88
≡	SCHW – SCHWAB CHARLES CORP	Sell	−1,224,766	−0.87
≡	JNJ – JOHNSON & JOHNSON	Reduce 95.00%	−557,370	−0.86
≡	GD – GENERAL DYNAMICS CORP	Reduce 87.00%	−303,000	−0.81
≡	MA – MASTERCARD INCORPORATED	Reduce 89.00%	−167,572	−0.78
≡	MSCI – MSCI INC	Reduce 99.00%	−140,850	−0.78
≡	ITW – ILLINOIS TOOL WKS INC	Reduce 95.00%	−293,798	−0.77
≡	ADM – ARCHER DANIELS MIDLAND CO	Reduce 87.00%	−1,121,846	−0.67
≡	BN – BROOKFIELD CORP	Reduce 43.00%	−2,371,465	−0.65
≡	MCO – MOODYS CORP	Reduce 89.00%	−171,698	−0.64
≡	SPGI – S&P GLOBAL INC	Sell	−149,690	−0.63
≡	ROL – ROLLINS INC	Sell	−1,363,800	−0.62
≡	CG – CARLYLE GROUP INC	Reduce 97.00%	−1,238,000	−0.57
≡	GOOGL – ALPHABET INC	Reduce 85.00%	−411,000	−0.56
≡	ACN – ACCENTURE PLC IRELAND	Sell	−159,399	−0.54
≡	HEI – HEICO CORP NEW	Reduce 97.00%	−355,240	−0.53
≡	LIN – LINDE PLC	Reduce 94.00%	−116,700	−0.53
≡	ECL – ECOLAB INC	Reduce 91.00%	−228,300	−0.50
≡	LPLA – LPL FINL HLDGS INC	Add 6.00%	27,500	0.49
≡	FDX – FEDEX CORP	Reduce 98.00%	−160,000	−0.45
≡	SBUX – STARBUCKS CORP	Sell	−500,818	−0.45
≡	TSN – TYSON FOODS INC	Sell	−767,500	−0.44
≡	NSC – NORFOLK SOUTHN CORP	Reduce 86.00%	−171,500	−0.43
≡	ROK – ROCKWELL AUTOMATION INC	Sell	−147,000	−0.42
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Reduce 97.00%	−183,000	−0.40
≡	FNV – FRANCO NEV CORP	Buy	245,000	0.36
≡	AON – AON PLC	Reduce 99.00%	−107,050	−0.35
≡	TROW – PRICE T ROWE GROUP INC	Sell	−282,000	−0.34
≡	CMCSA – COMCAST CORP NEW	Reduce 86.00%	−806,041	−0.34
≡	WHR – WHIRLPOOL CORP	Sell	−276,819	−0.33
≡	SHW – SHERWIN WILLIAMS CO	Sell	−94,172	−0.32
≡	FDS – FACTSET RESH SYS INC	Reduce 75.00%	−70,720	−0.30
≡	VRSK – VERISK ANALYTICS INC	Sell	−124,700	−0.29
≡	THG – HANOVER INS GROUP INC	Reduce 97.00%	−215,000	−0.29
≡	COST – COSTCO WHSL CORP NEW	Sell	−39,150	−0.28
≡	BF-B – BROWN FORMAN CORP	Reduce 76.00%	−513,800	−0.26
≡	NKE – NIKE INC	Reduce 86.00%	−283,900	−0.26
≡	CVS – CVS HEALTH CORP	Reduce 99.00%	−328,000	−0.26
≡	CVS – CVS HEALTH CORP	Reduce 86.00%	−285,000	−0.23
≡	DGEAF – DIAGEO PLC	Reduce 24.00%	−189,780	−0.22
≡	TGT – TARGET CORP	Sell	−125,500	−0.22
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Add 45.00%	84,500	0.19
≡	FDX – FEDEX CORP	Add 8.00%	13,000	0.19
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Add 30.00%	283,047	0.19
≡	UNP – UNION PAC CORP	Sell	−74,678	−0.18
≡	LIN – LINDE PLC	Add 10.00%	12,000	0.17
≡	RTX – RTX CORPORATION	Sell	−169,400	−0.16
≡	RNR – RENAISSANCERE HLDGS LTD	Sell	−67,000	−0.16
≡	CCK – CROWN HLDGS INC	Reduce 98.00%	−183,500	−0.14
≡	TMO – THERMO FISHER SCIENTIFIC INC	Sell	−24,700	−0.14
≡	COF – CAPITAL ONE FINL CORP	Sell	−83,500	−0.12
≡	MMM – 3M CO	Reduce 62.00%	−131,750	−0.12
≡	SMG – SCOTTS MIRACLE-GRO CO	Sell	−159,000	−0.12
≡	CE – CELANESE CORP DEL	Reduce 92.00%	−65,800	−0.11
≡	URI – UNITED RENTALS INC	Sell	−15,500	−0.11
≡	PM – PHILIP MORRIS INTL INC	Sell	−114,500	−0.10
≡	WFC – WELLS FARGO CO NEW	Sell	−172,450	−0.10
≡	AMT – AMERICAN TOWER CORP NEW	Reduce 98.00%	−49,910	−0.10
≡	KMX – CARMAX INC	Reduce 94.00%	−109,500	−0.09
≡	BF-B – BROWN FORMAN CORP	Reduce 56.00%	−183,387	−0.09
≡	OI – O-I GLASS INC	Reduce 100.00%	−538,900	−0.09
≡	APD – AIR PRODS & CHEMS INC	Add 153.00%	23,000	0.09
≡	SEIC – SEI INVTS CO	Sell	−114,200	−0.08
≡	HXL – HEXCEL CORP NEW	Reduce 75.00%	−113,000	−0.08
≡	UNH – UNITEDHEALTH GROUP INC	Sell	−16,100	−0.08
≡	SHOP – SHOPIFY INC	Sell	−102,750	−0.08
≡	TRU – TRANSUNION	Sell	−98,050	−0.08
≡	CBRL – CRACKER BARREL OLD CTRY STOR	Reduce 94.00%	−99,000	−0.07
≡	HCA – HCA HEALTHCARE INC	Sell	−21,432	−0.07
≡	THG – HANOVER INS GROUP INC	Add 6.00%	13,000	0.07
≡	SPOT – SPOTIFY TECHNOLOGY S A	Sell	−25,900	−0.07
≡	EMN – EASTMAN CHEM CO	Reduce 94.00%	−66,950	−0.07
≡	CARR – CARRIER GLOBAL CORPORATION	Reduce 70.00%	−125,800	−0.06
≡	CHH – CHOICE HOTELS INTL INC	Add 31.00%	26,000	0.06
≡	SNEJF – SONY GROUP CORP	Sell	−67,000	−0.06
≡	OTIS – OTIS WORLDWIDE CORP	Reduce 69.00%	−60,020	−0.05
≡	LAMR – LAMAR ADVERTISING CO NEW	Add 22.00%	17,000	0.05
≡	FERG – FERGUSON PLC NEW	Add 23.00%	13,000	0.05
≡	UBER – UBER TECHNOLOGIES INC	Sell	−58,000	−0.04
≡	MAR – MARRIOTT INTL INC NEW	Add 144.00%	13,000	0.04
≡	NSP – INSPERITY INC	Add 213.00%	36,030	0.04
≡	GPK – GRAPHIC PACKAGING HLDG CO	Add 39.00%	93,901	0.04
≡	CABO – CABLE ONE INC	Add 12.00%	5,700	0.04
≡	HSY – HERSHEY CO	Add 126.00%	12,000	0.03
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Sell	−8,627	−0.02
≡	YUM – YUM BRANDS INC	Sell	−16,152	−0.02
≡	STERICYCLE INC	Sell	−38,000	−0.02
≡	EA – ELECTRONIC ARTS INC	Reduce 38.00%	−31,000	−0.02
≡	KMX – CARMAX INC	Add 11.00%	13,000	0.02
≡	BN – BROOKFIELD REINS LTD	Sell	−35,427	−0.01
≡	DNB – DUN & BRADSTREET HLDGS INC	Sell	−115,000	−0.01
≡	CSCO – CISCO SYS INC	Reduce 24.00%	−46,000	−0.01
≡	ICE – INTERCONTINENTAL EXCHANGE IN	Sell	−5,120	−0.01
≡	PAYX – PAYCHEX INC	Reduce 12.00%	−10,000	0.01
≡	OI – O-I GLASS INC	Add 25.00%	135,000	0.00
Q1 2024filed May 3, 245 new27 added83 reduced1 exited
≡	GOOG – ALPHABET INC	Reduce 88.00%	−2,155,400	−3.31
≡	AMZN – AMAZON COM INC	Add 1168.00%	1,733,896	3.10
≡	BRK-B – BERKSHIRE HATHAWAY INC DEL	Add 158.00%	676,949	2.92
≡	ADI – ANALOG DEVICES INC	Reduce 99.00%	−1,141,971	−2.47
≡	V – VISA INC	Reduce 92.00%	−846,985	−2.40
≡	AAPL – APPLE INC	Reduce 96.00%	−1,129,490	−2.38
≡	WSO-B – WATSCO INC	Reduce 92.00%	−473,550	−2.22
≡	MSFT – MICROSOFT CORP	Reduce 95.00%	−451,242	−1.84
≡	BLK – BLACKROCK INC	Reduce 94.00%	−196,200	−1.74
≡	BX – BLACKSTONE INC	Reduce 97.00%	−1,160,000	−1.66
≡	RLI – RLI CORP	Reduce 91.00%	−1,004,322	−1.45
≡	HD – HOME DEPOT INC	Reduce 57.00%	−366,188	−1.38
≡	TXN – TEXAS INSTRS INC	Reduce 100.00%	−723,998	−1.34
≡	MRSH – MARSH & MCLENNAN COS INC	Reduce 97.00%	−643,500	−1.33
≡	GSCE – GOLDMAN SACHS GROUP INC	Reduce 93.00%	−312,060	−1.31
≡	LOW – LOWES COS INC	Reduce 90.00%	−533,484	−1.28
≡	KKR – KKR & CO INC	Reduce 99.00%	−1,415,800	−1.27
≡	BN – BROOKFIELD CORP	Reduce 43.00%	−2,371,465	−1.11
≡	PGR – PROGRESSIVE CORP	Reduce 91.00%	−633,750	−1.08
≡	LPLA – LPL FINL HLDGS INC	Reduce 99.00%	−421,808	−1.04
≡	DIS – DISNEY WALT CO	Reduce 71.00%	−1,123,191	−1.00
≡	APO – APOLLO GLOBAL MGMT INC	Reduce 98.00%	−967,500	−0.98
≡	DG – DOLLAR GEN CORP NEW	Reduce 99.00%	−647,250	−0.96
≡	JNJ – JOHNSON & JOHNSON	Reduce 95.00%	−557,370	−0.95
≡	AXP – AMERICAN EXPRESS CO	Reduce 98.00%	−464,250	−0.94
≡	ADM – ARCHER DANIELS MIDLAND CO	Reduce 87.00%	−1,121,846	−0.91
≡	CAT – CATERPILLAR INC	Reduce 97.00%	−283,098	−0.91
≡	MSCI – MSCI INC	Reduce 99.00%	−140,850	−0.87
≡	GD – GENERAL DYNAMICS CORP	Reduce 87.00%	−303,000	−0.86
≡	ITW – ILLINOIS TOOL WKS INC	Reduce 95.00%	−293,798	−0.84
≡	META – META PLATFORMS INC	Reduce 91.00%	−221,461	−0.83
≡	NVR – NVR INC	Reduce 98.00%	−10,774	−0.82
≡	SCHW – SCHWAB CHARLES CORP	Reduce 89.00%	−1,076,766	−0.81
≡	MA – MASTERCARD INCORPORATED	Reduce 89.00%	−167,572	−0.77
≡	MCO – MOODYS CORP	Reduce 89.00%	−171,698	−0.74
≡	SPGI – S&P GLOBAL INC	Reduce 99.00%	−148,690	−0.71
≡	GOOGL – ALPHABET INC	Reduce 85.00%	−411,000	−0.63
≡	ROL – ROLLINS INC	Reduce 95.00%	−1,282,325	−0.61
≡	ACN – ACCENTURE PLC IRELAND	Reduce 100.00%	−159,398	−0.61
≡	BRK-B – BERKSHIRE HATHAWAY INC DEL	Add 13.00%	66	0.60
≡	HEI – HEICO CORP NEW	Reduce 97.00%	−355,240	−0.55
≡	CG – CARLYLE GROUP INC	Reduce 97.00%	−1,238,000	−0.55
≡	LIN – LINDE PLC	Reduce 94.00%	−111,400	−0.50
≡	ECL – ECOLAB INC	Reduce 91.00%	−228,300	−0.49
≡	SBUX – STARBUCKS CORP	Reduce 92.00%	−451,318	−0.48
≡	ROK – ROCKWELL AUTOMATION INC	Reduce 95.00%	−139,100	−0.47
≡	NSC – NORFOLK SOUTHN CORP	Reduce 86.00%	−171,500	−0.44
≡	NVO – NOVO-NORDISK A S	Add 24.00%	233,680	0.43
≡	FDX – FEDEX CORP	Reduce 97.00%	−148,500	−0.41
≡	TSN – TYSON FOODS INC	Reduce 99.00%	−677,500	−0.40
≡	CMCSA – COMCAST CORP NEW	Reduce 86.00%	−794,541	−0.39
≡	FDS – FACTSET RESH SYS INC	Reduce 75.00%	−70,720	−0.38
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Reduce 93.00%	−82,000	−0.37
≡	WHR – WHIRLPOOL CORP	Reduce 98.00%	−271,589	−0.36
≡	DGEAF – DIAGEO PLC	Reduce 24.00%	−184,080	−0.36
≡	BF-B – BROWN FORMAN CORP	Reduce 76.00%	−513,800	−0.35
≡	NKE – NIKE INC	Reduce 86.00%	−276,900	−0.34
≡	STERICYCLE INC	Reduce 94.00%	−605,700	−0.33
≡	AON – AON PLC	Reduce 99.00%	−102,350	−0.32
≡	VRSK – VERISK ANALYTICS INC	Reduce 98.00%	−115,700	−0.30
≡	TROW – PRICE T ROWE GROUP INC	Reduce 89.00%	−250,000	−0.29
≡	CVS – CVS HEALTH CORP	Reduce 99.00%	−328,000	−0.28
≡	THG – HANOVER INS GROUP INC	Reduce 97.00%	−202,000	−0.27
≡	CCK – CROWN HLDGS INC	Reduce 98.00%	−183,500	−0.18
≡	UNP – UNION PAC CORP	Reduce 85.00%	−63,578	−0.17
≡	MMM – 3M CO	Reduce 62.00%	−131,750	−0.17
≡	TGT – TARGET CORP	Reduce 93.00%	−106,000	−0.16
≡	BF-B – BROWN FORMAN CORP	Reduce 56.00%	−183,387	−0.13
≡	LPLA – LPL FINL HLDGS INC	Add 7.00%	27,905	0.13
≡	AMT – AMERICAN TOWER CORP NEW	Reduce 98.00%	−49,910	−0.12
≡	RNR – RENAISSANCERE HLDGS LTD	Reduce 95.00%	−54,500	−0.12
≡	CE – CELANESE CORP DEL	Reduce 92.00%	−65,800	−0.11
≡	COF – CAPITAL ONE FINL CORP	Reduce 91.00%	−76,000	−0.11
≡	RTX – RTX CORPORATION	Reduce 68.00%	−114,800	−0.10
≡	BAM – BROOKFIELD ASSET MANAGMT LTD	Add 30.00%	283,047	0.10
≡	SMG – SCOTTS MIRACLE-GRO CO	Reduce 94.00%	−138,000	−0.10
≡	HXL – HEXCEL CORP NEW	Reduce 75.00%	−113,000	−0.09
≡	CBRL – CRACKER BARREL OLD CTRY STOR	Reduce 94.00%	−99,000	−0.08
≡	OI – O-I GLASS INC	Reduce 100.00%	−468,900	−0.08
≡	CARR – CARRIER GLOBAL CORPORATION	Reduce 70.00%	−125,800	−0.08
≡	KMX – CARMAX INC	Reduce 93.00%	−96,500	−0.08
≡	WFC – WELLS FARGO CO NEW	Reduce 81.00%	−140,450	−0.07
≡	TRU – TRANSUNION	Reduce 97.00%	−95,050	−0.07
≡	CABO – CABLE ONE INC	Add 9.00%	3,900	−0.07
≡	EMN – EASTMAN CHEM CO	Reduce 94.00%	−66,950	−0.07
≡	OTIS – OTIS WORLDWIDE CORP	Reduce 69.00%	−60,020	−0.06
≡	URI – UNITED RENTALS INC	Add 72.00%	6,500	0.05
≡	FDX – FEDEX CORP	Add 8.00%	11,500	0.05
≡	TGT – TARGET CORP	Add 11.00%	12,000	0.04
≡	FERG – FERGUSON PLC NEW	Add 49.00%	19,000	0.04
≡	TSN – TYSON FOODS INC	Add 12.00%	80,000	0.04
≡	FIX – COMFORT SYS USA INC	Add 1200.00%	12,000	0.04
≡	SEIC – SEI INVTS CO	Reduce 48.00%	−55,200	−0.04
≡	GPK – GRAPHIC PACKAGING HLDG CO	Add 98.00%	119,223	0.04
≡	APD – AIR PRODS & CHEMS INC	Buy	15,000	0.04
≡	CSCO – CISCO SYS INC	Reduce 24.00%	−46,000	−0.03
≡	RNR – RENAISSANCERE HLDGS LTD	Add 17.00%	9,500	0.03
≡	CHH – CHOICE HOTELS INTL INC	Add 37.00%	23,000	0.03
≡	HCA – HCA HEALTHCARE INC	Add 52.00%	7,291	0.03
≡	TMO – THERMO FISHER SCIENTIFIC INC	Add 26.00%	5,100	0.03
≡	MAR – MARRIOTT INTL INC NEW	Buy	9,000	0.02
≡	THG – HANOVER INS GROUP INC	Add 6.00%	13,000	0.02
≡	YUM – YUM BRANDS INC	Buy	16,152	0.02
≡	ODFL – OLD DOMINION FREIGHT LINE IN	Add 115.00%	101,000	0.02
≡	IFF – INTERNATIONAL FLAVORS&FRAGRA	Sell	−23,000	−0.02
≡	LAMR – LAMAR ADVERTISING CO NEW	Add 24.00%	15,000	0.02
≡	PAYX – PAYCHEX INC	Reduce 12.00%	−10,000	−0.02
≡	NSP – INSPERITY INC	Buy	16,876	0.02
≡	HSY – HERSHEY CO	Buy	9,500	0.02
≡	UNH – UNITEDHEALTH GROUP INC	Add 46.00%	5,100	0.02
≡	SMG – SCOTTS MIRACLE-GRO CO	Add 8.00%	12,000	0.02
≡	UBER – UBER TECHNOLOGIES INC	Add 29.00%	13,000	0.01
≡	KMX – CARMAX INC	Add 13.00%	13,000	0.01
≡	IQV – IQVIA HLDGS INC	Add 10.00%	5,100	0.01
≡	BN – BROOKFIELD REINS LTD	Reduce 30.00%	−10,753	−0.01
≡	OI – O-I GLASS INC	Add 15.00%	70,000	0.00