Conestoga Capital Advisors, LLC Activity Q4 2001-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
SPSC	Sell	SPS COMM INC	$265,560,607	-12.1%	1,556,536	-1.1%	4.56%	-4.9%
CWST	Sell	CASELLA WASTE SYS INCcl a	$232,383,476	-15.9%	3,045,655	-0.3%	3.99%	-8.9%
DSGX	Buy	DESCARTES SYS GROUP INC	$221,674,669	-7.8%	3,020,914	+0.7%	3.81%	-0.2%
EXPO	Buy	EXPONENT INC	$209,229,442	-7.1%	2,444,269	+1.2%	3.60%	+0.5%
SSD	Sell	SIMPSON MFG INC	$205,516,859	+7.2%	1,371,850	-0.9%	3.53%	+16.0%
FSV	Buy	FIRSTSERVICE CORP NEW	$198,327,645	-4.6%	1,362,702	+1.0%	3.41%	+3.3%
AAON	Buy	AAON INC	$189,323,876	-9.6%	3,329,064	+50.8%	3.25%	-2.1%
NOVT	Buy	NOVANTA INC	$183,464,924	-21.2%	1,279,036	+1.1%	3.15%	-14.7%
SITE	Buy	SITEONE LANDSCAPE SUPPLY INC	$179,447,505	-0.8%	1,097,874	+1.6%	3.08%	+7.4%
ROAD	Sell	CONSTRUCTION PARTNERS INC	$166,264,168	+4.0%	4,547,707	-10.7%	2.86%	+12.6%
ROLL	Buy	RBC BEARINGS INC	$162,048,865	+9.5%	692,132	+1.7%	2.78%	+18.5%
ALTR	Buy	ALTAIR ENGR INC	$150,739,008	-16.1%	2,409,511	+1.7%	2.59%	-9.2%
MMSI	Buy	MERIT MED SYS INC	$147,698,866	-15.7%	2,139,943	+2.2%	2.54%	-8.7%
	Buy	STEVANATO GROUP S P A	$134,753,090	+9.9%	4,534,088	+19.7%	2.32%	+18.9%
BCPC	Buy	BALCHEM CORP	$133,507,648	-6.1%	1,076,327	+2.0%	2.29%	+1.6%
	Buy	CLEARWATER ANALYTICS HLDGS Icl a	$123,322,709	+25.1%	6,376,562	+2.7%	2.12%	+35.5%
NEOG	Sell	NEOGEN CORP	$121,483,814	-19.4%	6,552,525	-5.5%	2.09%	-12.8%
TREX	Buy	TREX CO INC	$115,407,290	-2.8%	1,872,583	+3.4%	1.98%	+5.3%
RGEN	Buy	REPLIGEN CORP	$112,443,603	+16.5%	707,148	+3.6%	1.93%	+26.0%
FOXF	Buy	FOX FACTORY HLDG CORP	$112,010,336	-6.2%	1,130,504	+2.7%	1.92%	+1.5%
PRO	Buy	PROS HOLDINGS INC	$111,693,779	+14.4%	3,226,279	+1.8%	1.92%	+23.8%
HLIO	Sell	HELIOS TECHNOLOGIES INC	$107,800,202	-20.2%	1,943,046	-4.9%	1.85%	-13.6%
AXON	Sell	AXON ENTERPRISE INC	$105,750,251	+0.7%	531,435	-1.2%	1.82%	+9.1%
ESE	Buy	ESCO TECHNOLOGIES INC	$105,596,405	+3.4%	1,011,072	+2.6%	1.81%	+12.0%
LMAT	Buy	LEMAITRE VASCULAR INC	$104,469,804	-16.6%	1,917,581	+3.0%	1.80%	-9.7%
WK	Buy	WORKIVA INC	$95,998,369	+2.8%	947,290	+3.2%	1.65%	+11.3%
JBT	Sell	JOHN BEAN TECHNOLOGIES CORP	$94,550,450	-15.1%	899,281	-2.1%	1.62%	-8.1%
	Sell	PAYCOR HCM INC	$91,309,293	-15.8%	3,999,531	-12.7%	1.57%	-8.8%
SLP	Sell	SIMULATIONS PLUS INC	$83,728,456	-13.5%	2,007,877	-10.1%	1.44%	-6.4%
DGII	Buy	DIGI INTL INC	$83,184,975	-8.3%	3,080,925	+33.8%	1.43%	-0.7%
MODN	Sell	MODEL N INC	$80,987,596	-39.7%	3,317,804	-12.7%	1.39%	-34.8%
MRCY	Sell	MERCURY SYS INC	$80,169,516	-6.4%	2,161,486	-12.7%	1.38%	+1.4%
FSS	Buy	FEDERAL SIGNAL CORP	$78,748,432	+42.2%	1,318,407	+52.4%	1.35%	+53.9%
BL	Sell	BLACKLINE INC	$75,850,510	+0.1%	1,367,415	-2.9%	1.30%	+8.3%
VCEL	Sell	VERICEL CORP	$74,774,572	-14.8%	2,230,745	-4.5%	1.28%	-7.8%
TRNS	Buy	TRANSCAT INC	$74,266,746	+19.3%	758,056	+3.9%	1.28%	+29.1%
	Sell	HILLMAN SOLUTIONS CORP	$66,603,223	-18.7%	8,073,118	-11.2%	1.14%	-12.0%
WDFC	Buy	WD 40 CO	$63,257,366	+14.7%	311,245	+6.4%	1.09%	+24.1%
QTWO	Sell	Q2 HLDGS INC	$62,817,169	-7.5%	1,946,612	-11.4%	1.08%	+0.1%
BRKS	Sell	AZENTA INC	$57,176,147	-4.7%	1,139,194	-11.4%	0.98%	+3.2%
PLOW	Sell	DOUGLAS DYNAMICS INC	$56,741,832	-14.2%	1,880,114	-15.0%	0.98%	-7.1%
MLAB	Sell	MESA LABS INC	$55,709,195	-24.8%	530,210	-8.0%	0.96%	-18.6%
VERX	Sell	VERTEX INCcl a	$54,972,918	-0.2%	2,379,780	-15.8%	0.94%	+8.0%
FICO	Sell	FAIR ISAAC CORP	$45,384,167	+3.8%	52,254	-3.3%	0.78%	+12.4%
	Sell	DEFINITIVE HEALTHCARE CORP	$39,357,597	-34.3%	4,925,857	-9.6%	0.68%	-28.9%
CSWI	New	CSW INDUSTRIALS INC	$38,503,382	–	219,718	–	0.66%	–
NRC	Buy	NATIONAL RESH CORP	$34,307,570	+8.1%	773,215	+6.0%	0.59%	+17.1%
ROL	Sell	ROLLINS INC	$30,640,427	-13.1%	820,799	-0.3%	0.53%	-6.1%
WSO	Buy	WATSCO INC	$29,428,921	-1.0%	77,912	+0.0%	0.51%	+7.2%
POOL	Buy	POOL CORP	$27,686,063	-4.6%	77,748	+0.3%	0.48%	+3.3%
TYL	Sell	TYLER TECHNOLOGIES INC	$27,437,564	-8.1%	71,056	-0.9%	0.47%	-0.6%
GGG	Buy	GRACO INC	$25,279,084	-15.5%	346,859	+0.1%	0.43%	-8.6%
OFLX	Sell	OMEGA FLEX INC	$23,511,905	-35.7%	298,640	-15.3%	0.40%	-30.5%
JKHY	Sell	HENRY JACK & ASSOC INC	$22,970,257	-9.7%	151,980	-0.0%	0.40%	-2.2%
HEIA	Buy	HEICO CORP NEWcl a	$22,882,794	-7.8%	177,084	+0.3%	0.39%	-0.3%
WST	Sell	WEST PHARMACEUTICAL SVSC INC	$21,159,218	-5.2%	56,393	-3.3%	0.36%	+2.8%
MTN	Sell	VAIL RESORTS INC	$17,458,971	-12.3%	78,683	-0.5%	0.30%	-5.1%
TECH	Buy	BIO-TECHNE CORP	$17,328,716	-16.6%	254,572	+0.0%	0.30%	-9.7%
GWRE	Sell	GUIDEWIRE SOFTWARE INC	$17,233,650	+17.9%	191,485	-0.3%	0.30%	+27.6%
IT	Sell	GARTNER INC	$16,693,948	-7.1%	48,584	-5.3%	0.29%	+0.7%
EVI	Sell	EVI INDS INC	$15,930,742	+11.8%	641,851	-0.9%	0.27%	+21.2%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$15,458,257	-11.8%	189,765	+0.1%	0.27%	-4.3%
LCII	Sell	LCI INDS	$12,494,780	-7.5%	106,411	-0.5%	0.22%	+0.5%
TFX	Sell	TELEFLEX INCORPORATED	$11,701,519	-19.3%	59,577	-0.6%	0.20%	-12.6%
CGNX	Buy	COGNEX CORP	$11,608,104	-24.0%	273,518	+0.3%	0.20%	-17.8%
GNRC	Buy	GENERAC HLDGS INC	$9,001,404	+33.4%	82,612	+82.5%	0.16%	+44.9%
FIVN	Buy	FIVE9 INC	$8,954,289	-21.5%	139,258	+0.6%	0.15%	-14.9%
ANSS	Buy	ANSYS INC	$1,548,748	-4.6%	5,205	+5.9%	0.03%	+3.8%
VRSK	Buy	VERISK ANALYTICS INC	$1,334,756	+13.2%	5,650	+8.3%	0.02%	+21.1%
TCYSF	New	TECSYS INC COM	$1,263,521	–	61,010	–	0.02%	–
CSGP	Buy	COSTAR GROUP INC	$1,217,169	-4.8%	15,830	+10.2%	0.02%	+5.0%
COST	Sell	COSTCO WHSL CORP NEW	$1,211,839	+4.2%	2,145	-0.7%	0.02%	+16.7%
CPRT	Buy	COPART INC	$1,242,199	+4.2%	28,828	+120.7%	0.02%	+10.5%
KIDS	Buy	ORTHOPEDIATRICS CORP	$1,170,656	-17.0%	36,583	+13.7%	0.02%	-9.1%
PHR	Buy	PHREESIA INC	$1,173,384	-12.8%	62,815	+44.8%	0.02%	-4.8%
ROP	Buy	ROPER TECHNOLOGIES INC	$1,081,882	+19.2%	2,234	+18.4%	0.02%	+35.7%
FTNT	Buy	FORTINET INC	$1,025,081	-5.7%	17,469	+21.5%	0.02%	+5.9%
SPGI	Sell	S&P GLOBAL INC	$1,023,870	-9.2%	2,802	-0.4%	0.02%	0.0%
AAPL	Sell	APPLE INC	$977,609	-13.3%	5,710	-1.7%	0.02%	-5.6%
MSFT	Sell	MICROSOFT CORP	$978,509	-7.9%	3,099	-0.6%	0.02%	0.0%
FAST	Sell	FASTENAL CO	$954,834	-8.7%	17,475	-1.4%	0.02%	-5.9%
TSCO	Buy	TRACTOR SUPPLY CO	$933,827	-4.2%	4,599	+4.4%	0.02%	+6.7%
THBRF	New	THUNDERBIRD ENTERTAINMENT GROU	$932,214	–	588,950	–	0.02%	–
MKL	Buy	MARKEL GROUP INC	$787,782	+22.5%	535	+15.1%	0.01%	+40.0%
WCN	Buy	WASTE CONNECTIONS INC	$791,564	+6.8%	5,894	+13.6%	0.01%	+16.7%
GOOGL	Buy	ALPHABET INCcap stk cl a	$753,099	+80.3%	5,755	+64.9%	0.01%	+85.7%
IDXX	Buy	IDEXX LABS INC	$771,344	+3.8%	1,764	+19.3%	0.01%	+8.3%
FDS	Buy	FACTSET RESH SYS INC	$680,814	+15.9%	1,557	+6.2%	0.01%	+33.3%
INTU	Sell	INTUIT	$699,988	+10.7%	1,370	-0.7%	0.01%	+20.0%
VEEV	Buy	VEEVA SYS INC	$683,389	+17.7%	3,359	+14.4%	0.01%	+33.3%
ALGN	Buy	ALIGN TECHNOLOGY INC	$500,419	-1.6%	1,639	+14.0%	0.01%	+12.5%
JNJ	Sell	JOHNSON & JOHNSON	$485,940	-11.8%	3,120	-6.3%	0.01%	-11.1%
STE	Buy	STERIS PLC	$452,883	+32.9%	2,064	+36.2%	0.01%	+60.0%
GOOG	Sell	ALPHABET INCcap stk cl c	$409,394	+7.8%	3,105	-1.1%	0.01%	+16.7%
SJM	Buy	SMUCKER J M CO	$432,643	-7.6%	3,520	+11.0%	0.01%	0.0%
BRKB	Sell	BERKSHIRE HATHAWAY INC DELcl b new	$381,827	+1.8%	1,090	-0.9%	0.01%	+16.7%
XYL	Buy	XYLEM INC	$425,929	-11.7%	4,679	+9.3%	0.01%	-12.5%
HD	Sell	HOME DEPOT INC	$364,103	-3.5%	1,205	-0.8%	0.01%	0.0%
WTRG	Buy	ESSENTIAL UTILS INC	$341,137	+16.5%	9,937	+35.4%	0.01%	+20.0%
MTD	Buy	METTLER TOLEDO INTERNATIONAL	$352,366	+25.0%	318	+47.9%	0.01%	+50.0%
GRMN	Sell	GARMIN LTD	$307,184	-7.1%	2,920	-7.9%	0.01%	0.0%
BSY	New	BENTLEY SYS INC	$219,701	–	4,380	–	0.00%	–
NKE	Sell	NIKE INCcl b	$249,090	-14.2%	2,605	-1.0%	0.00%	-20.0%
PCOR	New	PROCORE TECHNOLOGIES INC	$202,492	–	3,100	–	0.00%	–
BLL	Exit	BALL CORP	$0	–	-4,664	–	-0.00%	–
NSTG	Exit	NANOSTRING TECHNOLOGIES INC	$0	–	-91,722	–	-0.01%	–
OMCL	Exit	OMNICELL COM	$0	–	-1,118,869	–	-1.31%	–

Q2 2023

			Value		Shares		↓ Weighting
SPSC	New	SPS COMM INC	$302,199,496	–	1,573,464	–	4.80%	–
CWST	New	CASELLA WASTE SYS INCcl a	$276,177,769	–	3,053,375	–	4.38%	–
DSGX	New	DESCARTES SYS GROUP INC	$240,333,124	–	3,000,039	–	3.82%	–
NOVT	New	NOVANTA INC	$232,840,659	–	1,264,751	–	3.70%	–
EXPO	New	EXPONENT INC	$225,298,498	–	2,414,257	–	3.58%	–
AAON	New	AAON INC	$209,369,841	–	2,208,310	–	3.32%	–
FSV	New	FIRSTSERVICE CORP NEW	$207,875,976	–	1,349,056	–	3.30%	–
SSD	New	SIMPSON MFG INC	$191,745,995	–	1,384,448	–	3.04%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$180,880,847	–	1,080,789	–	2.87%	–
ALTR	New	ALTAIR ENGR INC	$179,701,439	–	2,369,481	–	2.85%	–
MMSI	New	MERIT MED SYS INC	$175,164,576	–	2,094,268	–	2.78%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$159,807,494	–	5,091,032	–	2.54%	–
NEOG	New	NEOGEN CORP	$150,791,794	–	6,932,956	–	2.39%	–
ROLL	New	RBC BEARINGS INC	$148,004,863	–	680,576	–	2.35%	–
BCPC	New	BALCHEM CORP	$142,187,124	–	1,054,722	–	2.26%	–
HLIO	New	HELIOS TECHNOLOGIES INC	$135,020,470	–	2,042,979	–	2.14%	–
MODN	New	MODEL N INC	$134,410,291	–	3,801,196	–	2.13%	–
LMAT	New	LEMAITRE VASCULAR INC	$125,254,212	–	1,861,686	–	1.99%	–
	New	STEVANATO GROUP S P A	$122,653,881	–	3,787,952	–	1.95%	–
FOXF	New	FOX FACTORY HLDG CORP	$119,411,349	–	1,100,464	–	1.90%	–
TREX	New	TREX CO INC	$118,694,938	–	1,810,478	–	1.88%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$111,389,861	–	918,301	–	1.77%	–
	New	PAYCOR HCM INC	$108,439,750	–	4,581,316	–	1.72%	–
AXON	New	AXON ENTERPRISE INC	$104,968,706	–	537,970	–	1.67%	–
ESE	New	ESCO TECHNOLOGIES INC	$102,078,821	–	985,032	–	1.62%	–
	New	CLEARWATER ANALYTICS HLDGS Icl a	$98,549,796	–	6,209,817	–	1.56%	–
PRO	New	PROS HOLDINGS INC	$97,611,175	–	3,169,194	–	1.55%	–
SLP	New	SIMULATIONS PLUS INC	$96,815,879	–	2,234,384	–	1.54%	–
RGEN	New	REPLIGEN CORP	$96,554,230	–	682,555	–	1.53%	–
WK	New	WORKIVA INC	$93,355,395	–	918,310	–	1.48%	–
DGII	New	DIGI INTL INC	$90,677,553	–	2,302,045	–	1.44%	–
VCEL	New	VERICEL CORP	$87,769,907	–	2,336,170	–	1.39%	–
MRCY	New	MERCURY SYS INC	$85,634,843	–	2,475,711	–	1.36%	–
OMCL	New	OMNICELL COM	$82,427,079	–	1,118,869	–	1.31%	–
	New	HILLMAN SOLUTIONS CORP	$81,874,104	–	9,087,026	–	1.30%	–
BL	New	BLACKLINE INC	$75,768,872	–	1,407,820	–	1.20%	–
MLAB	New	MESA LABS INC	$74,044,709	–	576,223	–	1.18%	–
QTWO	New	Q2 HLDGS INC	$67,909,424	–	2,197,716	–	1.08%	–
PLOW	New	DOUGLAS DYNAMICS INC	$66,123,977	–	2,212,985	–	1.05%	–
TRNS	New	TRANSCAT INC	$62,226,052	–	729,411	–	0.99%	–
BRKS	New	AZENTA INC	$60,000,418	–	1,285,356	–	0.95%	–
	New	DEFINITIVE HEALTHCARE CORP	$59,929,133	–	5,448,103	–	0.95%	–
FSS	New	FEDERAL SIGNAL CORP	$55,390,112	–	865,065	–	0.88%	–
WDFC	New	WD 40 CO	$55,167,559	–	292,433	–	0.88%	–
VERX	New	VERTEX INCcl a	$55,109,886	–	2,826,148	–	0.88%	–
FICO	New	FAIR ISAAC CORP	$43,741,037	–	54,054	–	0.69%	–
OFLX	New	OMEGA FLEX INC	$36,577,751	–	352,455	–	0.58%	–
ROL	New	ROLLINS INC	$35,254,872	–	823,135	–	0.56%	–
NRC	New	NATIONAL RESH CORP	$31,750,985	–	729,740	–	0.50%	–
GGG	New	GRACO INC	$29,927,615	–	346,585	–	0.48%	–
TYL	New	TYLER TECHNOLOGIES INC	$29,861,315	–	71,701	–	0.47%	–
WSO	New	WATSCO INC	$29,711,554	–	77,887	–	0.47%	–
POOL	New	POOL CORP	$29,028,980	–	77,485	–	0.46%	–
JKHY	New	HENRY JACK & ASSOC INC	$25,431,315	–	151,983	–	0.40%	–
HEIA	New	HEICO CORP NEWcl a	$24,831,366	–	176,610	–	0.39%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$22,314,065	–	58,342	–	0.35%	–
TECH	New	BIO-TECHNE CORP	$20,775,406	–	254,507	–	0.33%	–
MTN	New	VAIL RESORTS INC	$19,901,628	–	79,050	–	0.32%	–
IT	New	GARTNER INC	$17,969,502	–	51,296	–	0.28%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$17,524,914	–	189,561	–	0.28%	–
CGNX	New	COGNEX CORP	$15,270,884	–	272,597	–	0.24%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$14,611,697	–	192,057	–	0.23%	–
TFX	New	TELEFLEX INCORPORATED	$14,502,196	–	59,919	–	0.23%	–
EVI	New	EVI INDS INC	$14,253,382	–	647,881	–	0.23%	–
LCII	New	LCI INDS	$13,508,642	–	106,906	–	0.21%	–
FIVN	New	FIVE9 INC	$11,408,277	–	138,366	–	0.18%	–
GNRC	New	GENERAC HLDGS INC	$6,749,922	–	45,262	–	0.11%	–
USPH	New	U S PHYSICAL THERAPY	$1,740,126	–	14,335	–	0.03%	–
ANSS	New	ANSYS INC	$1,622,617	–	4,913	–	0.03%	–
NVEE	New	NV5 GLOBAL INC	$1,664,098	–	15,023	–	0.03%	–
PLMR	New	PALOMAR HLDGS INC	$1,512,638	–	26,062	–	0.02%	–
IIIV	New	I3 VERTICALS INC	$1,527,094	–	66,802	–	0.02%	–
MEG	New	MONTROSE ENVIRONMENTAL GROUP	$1,391,434	–	33,035	–	0.02%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$1,375,990	–	62,262	–	0.02%	–
KIDS	New	ORTHOPEDIATRICS CORP	$1,411,225	–	32,183	–	0.02%	–
PHR	New	PHREESIA INC	$1,345,369	–	43,385	–	0.02%	–
OLO	New	OLO INCcl a	$1,351,787	–	209,255	–	0.02%	–
CSGP	New	COSTAR GROUP INC	$1,278,930	–	14,370	–	0.02%	–
CYRX	New	CRYOPORT INC	$1,171,309	–	67,902	–	0.02%	–
SSTI	New	SOUNDTHINKING INC	$1,202,081	–	54,990	–	0.02%	–
CPRT	New	COPART INC	$1,191,659	–	13,065	–	0.02%	–
VRSK	New	VERISK ANALYTICS INC	$1,178,746	–	5,215	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$1,162,901	–	2,160	–	0.02%	–
AAPL	New	APPLE INC	$1,126,966	–	5,810	–	0.02%	–
SPGI	New	S&P GLOBAL INC	$1,127,292	–	2,812	–	0.02%	–
FAST	New	FASTENAL CO	$1,045,598	–	17,725	–	0.02%	–
FTNT	New	FORTINET INC	$1,087,060	–	14,381	–	0.02%	–
MSFT	New	MICROSOFT CORP	$1,062,144	–	3,119	–	0.02%	–
	New	PLANET LABS PBC	$1,071,648	–	332,810	–	0.02%	–
WLDN	New	WILLDAN GROUP INC	$1,016,879	–	53,073	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$974,388	–	4,407	–	0.02%	–
	New	LINDE PLC	$908,876	–	2,385	–	0.01%	–
ROP	New	ROPER TECHNOLOGIES INC	$907,270	–	1,887	–	0.01%	–
XOM	New	EXXON MOBIL CORP	$727,048	–	6,779	–	0.01%	–
SMLR	New	SEMLER SCIENTIFIC INC	$768,019	–	29,269	–	0.01%	–
IDXX	New	IDEXX LABS INC	$742,798	–	1,479	–	0.01%	–
WCN	New	WASTE CONNECTIONS INC	$741,378	–	5,187	–	0.01%	–
MKL	New	MARKEL GROUP INC	$643,179	–	465	–	0.01%	–
TKNO	New	ALPHA TEKNOVA INC	$634,736	–	237,729	–	0.01%	–
INTU	New	INTUIT	$632,302	–	1,380	–	0.01%	–
VEEV	New	VEEVA SYS INC	$580,733	–	2,937	–	0.01%	–
JNJ	New	JOHNSON & JOHNSON	$551,182	–	3,330	–	0.01%	–
FDS	New	FACTSET RESH SYS INC	$587,353	–	1,466	–	0.01%	–
ALGN	New	ALIGN TECHNOLOGY INC	$508,534	–	1,438	–	0.01%	–
XYL	New	XYLEM INC	$482,239	–	4,282	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$417,753	–	3,490	–	0.01%	–
SJM	New	SMUCKER J M CO	$468,114	–	3,170	–	0.01%	–
MA	New	MASTERCARD INCORPORATEDcl a	$434,596	–	1,105	–	0.01%	–
HD	New	HOME DEPOT INC	$377,428	–	1,215	–	0.01%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$375,100	–	1,100	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$379,846	–	3,140	–	0.01%	–
NSTG	New	NANOSTRING TECHNOLOGIES INC	$371,474	–	91,722	–	0.01%	–
GRMN	New	GARMIN LTD	$330,599	–	3,170	–	0.01%	–
STE	New	STERIS PLC	$340,845	–	1,515	–	0.01%	–
MRK	New	MERCK & CO INC	$288,475	–	2,500	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$300,479	–	2,066	–	0.01%	–
WTRG	New	ESSENTIAL UTILS INC	$292,820	–	7,337	–	0.01%	–
ITW	New	ILLINOIS TOOL WKS INC	$295,189	–	1,180	–	0.01%	–
NKE	New	NIKE INCcl b	$290,273	–	2,630	–	0.01%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$337,403	–	690	–	0.01%	–
AMGN	New	AMGEN INC	$250,883	–	1,130	–	0.00%	–
DHR	New	DANAHER CORPORATION	$255,600	–	1,065	–	0.00%	–
DLB	New	DOLBY LABORATORIES INC	$268,613	–	3,210	–	0.00%	–
MTD	New	METTLER TOLEDO INTERNATIONAL	$282,003	–	215	–	0.00%	–
BLL	New	BALL CORP	$271,491	–	4,664	–	0.00%	–
PEP	New	PEPSICO INC	$268,569	–	1,450	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
XM	Exit	QUALTRICS INTL INC	$0	–	-17,366	–	-0.00%	–
MRK	Exit	MERCK & CO INC	$0	–	-2,500	–	-0.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,066	–	-0.00%	–
STE	Exit	STERIS PLC	$0	–	-1,615	–	-0.01%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-1,510	–	-0.01%	–
PEP	Exit	PEPSICO INC	$0	–	-1,450	–	-0.01%	–
NKE	Exit	NIKE INCcl b	$0	–	-3,340	–	-0.01%	–
WTRG	Exit	ESSENTIAL UTILS INC	$0	–	-6,237	–	-0.01%	–
ROG	Exit	ROGERS CORP	$0	–	-1,220	–	-0.01%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-1,115	–	-0.01%	–
TRU	Exit	TRANSUNION	$0	–	-5,330	–	-0.01%	–
GRMN	Exit	GARMIN LTD	$0	–	-3,870	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.01%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-1,200	–	-0.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-3,900	–	-0.01%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,215	–	-0.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-3,900	–	-0.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,215	–	-0.01%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-1,785	–	-0.01%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-5,490	–	-0.01%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-1,365	–	-0.01%	–
BLL	Exit	BALL CORP	$0	–	-8,020	–	-0.01%	–
CDXS	Exit	CODEXIS INC	$0	–	-70,911	–	-0.01%	–
XYL	Exit	XYLEM INC	$0	–	-5,255	–	-0.01%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-1,580	–	-0.01%	–
INTU	Exit	INTUIT	$0	–	-1,380	–	-0.01%	–
SJM	Exit	SMUCKER J M CO	$0	–	-3,645	–	-0.01%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-3,530	–	-0.01%	–
MKL	Exit	MARKEL CORP	$0	–	-570	–	-0.01%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,635	–	-0.01%	–
TKNO	Exit	ALPHA TEKNOVA INC	$0	–	-196,149	–	-0.01%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-7,579	–	-0.01%	–
LIN	Exit	LINDE PLC	$0	–	-2,675	–	-0.01%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-1,818	–	-0.01%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-78,308	–	-0.02%	–
OLO	Exit	OLO INCcl a	$0	–	-97,530	–	-0.02%	–
WLDN	Exit	WILLDAN GROUP INC	$0	–	-53,073	–	-0.02%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-2,305	–	-0.02%	–
FTNT	Exit	FORTINET INC	$0	–	-17,665	–	-0.02%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-2,822	–	-0.02%	–
CPRT	Exit	COPART INC	$0	–	-8,210	–	-0.02%	–
WCN	Exit	WASTE CONNECTIONS INC	$0	–	-6,780	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-3,869	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-5,025	–	-0.02%	–
NSTG	Exit	NANOSTRING TECHNOLOGIES INC	$0	–	-73,407	–	-0.02%	–
FAST	Exit	FASTENAL CO	$0	–	-20,275	–	-0.02%	–
SMLR	Exit	SEMLER SCIENTIFIC INC	$0	–	-25,379	–	-0.02%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-5,911	–	-0.02%	–
	Exit	USERTESTING INC	$0	–	-259,925	–	-0.02%	–
CYRX	Exit	CRYOPORT INC	$0	–	-42,202	–	-0.02%	–
TCYSF	Exit	TECSYS INC COM	$0	–	-50,740	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-2,380	–	-0.02%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-16,126	–	-0.02%	–
MEG	Exit	MONTROSE ENVIRONMENTAL GROUP	$0	–	-33,035	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-8,300	–	-0.02%	–
ANSS	Exit	ANSYS INC	$0	–	-5,346	–	-0.02%	–
USPH	Exit	U S PHYSICAL THERAPY	$0	–	-16,125	–	-0.02%	–
THBRF	Exit	THUNDERBIRD ENTERTAINMENT GROU	$0	–	-588,950	–	-0.02%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-66,802	–	-0.03%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-47,735	–	-0.03%	–
KIDS	Exit	ORTHOPEDIATRICS CORP	$0	–	-32,183	–	-0.03%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-72,927	–	-0.03%	–
PLMR	Exit	PALOMAR HLDGS INC	$0	–	-21,932	–	-0.04%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-14,792	–	-0.04%	–
DGII	Exit	DIGI INTL INC	$0	–	-59,090	–	-0.04%	–
	Exit	LIGHTSPEED COMMERCE INC	$0	–	-285,625	–	-0.10%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-43,943	–	-0.15%	–
CDNA	Exit	CAREDX INC	$0	–	-580,533	–	-0.19%	–
FIVN	Exit	FIVE9 INC	$0	–	-132,666	–	-0.20%	–
LCII	Exit	LCI INDS	$0	–	-103,441	–	-0.20%	–
CGNX	Exit	COGNEX CORP	$0	–	-265,367	–	-0.22%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-191,221	–	-0.22%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-187,087	–	-0.22%	–
TFX	Exit	TELEFLEX INCORPORATED	$0	–	-59,853	–	-0.24%	–
EVI	Exit	EVI INDS INC	$0	–	-714,428	–	-0.25%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-60,073	–	-0.29%	–
IT	Exit	GARTNER INC	$0	–	-57,815	–	-0.31%	–
SSTK	Exit	SHUTTERSTOCK INC	$0	–	-331,741	–	-0.33%	–
MTN	Exit	VAIL RESORTS INC	$0	–	-77,264	–	-0.33%	–
TECH	Exit	BIO-TECHNE CORP	$0	–	-65,515	–	-0.36%	–
GGG	Exit	GRACO INC	$0	–	-313,080	–	-0.37%	–
WSO	Exit	WATSCO INC	$0	–	-74,847	–	-0.38%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-58,657	–	-0.40%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-178,965	–	-0.40%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-53,579	–	-0.43%	–
POOL	Exit	POOL CORP	$0	–	-76,084	–	-0.47%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-148,380	–	-0.53%	–
ROL	Exit	ROLLINS INC	$0	–	-820,244	–	-0.56%	–
NRC	Exit	NATIONAL RESH CORP	$0	–	-731,621	–	-0.57%	–
VCEL	Exit	VERICEL CORP	$0	–	-1,528,321	–	-0.69%	–
VERX	Exit	VERTEX INCcl a	$0	–	-2,909,764	–	-0.78%	–
	Exit	DEFINITIVE HEALTHCARE CORP	$0	–	-2,870,772	–	-0.87%	–
	Exit	CLEARWATER ANALYTICS HLDGS Icl a	$0	–	-2,813,900	–	-0.92%	–
OFLX	Exit	OMEGA FLEX INC	$0	–	-548,122	–	-0.99%	–
WDFC	Exit	WD 40 CO	$0	–	-293,338	–	-1.01%	–
	Exit	HILLMAN SOLUTIONS CORP	$0	–	-7,301,127	–	-1.08%	–
TRNS	Exit	TRANSCAT INC	$0	–	-727,872	–	-1.08%	–
BRKS	Exit	AZENTA INC	$0	–	-1,340,367	–	-1.12%	–
NEOG	Exit	NEOGEN CORP	$0	–	-4,132,829	–	-1.13%	–
	Exit	STEVANATO GROUP S P A	$0	–	-3,473,436	–	-1.15%	–
CSVI	Exit	COMPUTER SVCS INC COM	$0	–	-1,057,035	–	-1.15%	–
AQUA	Exit	EVOQUA WATER TECHNOLOGIES CO	$0	–	-1,947,564	–	-1.26%	–
QTWO	Exit	Q2 HLDGS INC	$0	–	-2,023,459	–	-1.28%	–
WK	Exit	WORKIVA INC	$0	–	-856,671	–	-1.30%	–
MLAB	Exit	MESA LABS INC	$0	–	-488,135	–	-1.34%	–
ESE	Exit	ESCO TECHNOLOGIES INC	$0	–	-977,642	–	-1.40%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-2,944,846	–	-1.42%	–
PLOW	Exit	DOUGLAS DYNAMICS INC	$0	–	-2,716,000	–	-1.49%	–
TREX	Exit	TREX CO INC	$0	–	-1,790,627	–	-1.54%	–
HLIO	Exit	HELIOS TECHNOLOGIES INC	$0	–	-1,560,163	–	-1.54%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-921,551	–	-1.55%	–
BL	Exit	BLACKLINE INC	$0	–	-1,402,571	–	-1.64%	–
LMAT	Exit	LEMAITRE VASCULAR INC	$0	–	-1,847,288	–	-1.83%	–
MRCY	Exit	MERCURY SYS INC	$0	–	-2,402,524	–	-1.91%	–
ALTR	Exit	ALTAIR ENGR INC	$0	–	-2,340,282	–	-2.02%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-2,194,792	–	-2.08%	–
SSD	Exit	SIMPSON MFG INC	$0	–	-1,370,758	–	-2.10%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-1,048,865	–	-2.14%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-983,316	–	-2.23%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-2,082,662	–	-2.30%	–
BCPC	Exit	BALCHEM CORP	$0	–	-1,033,516	–	-2.46%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-681,063	–	-2.49%	–
	Exit	PAYCOR HCM INC	$0	–	-4,369,652	–	-2.53%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-1,655,059	–	-2.56%	–
AAON	Exit	AAON INC	$0	–	-2,529,335	–	-2.67%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-5,238,822	–	-2.69%	–
ROLL	Exit	RBC BEARINGS INC	$0	–	-678,953	–	-2.76%	–
OMCL	Exit	OMNICELL COM	$0	–	-1,670,323	–	-2.84%	–
FSV	Exit	FIRSTSERVICE CORP NEW	$0	–	-1,328,106	–	-3.09%	–
NOVT	Exit	NOVANTA INC	$0	–	-1,405,527	–	-3.18%	–
MODN	Exit	MODEL N INC	$0	–	-4,869,648	–	-3.26%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-3,057,705	–	-3.80%	–
SPSC	Exit	SPS COMM INC	$0	–	-1,635,118	–	-3.98%	–
EXPO	Exit	EXPONENT INC	$0	–	-2,386,240	–	-4.09%	–
CWST	Exit	CASELLA WASTE SYS INCcl a	$0	–	-3,034,976	–	-4.54%	–

Q3 2022

			Value		Shares		↓ Weighting
CWST	Sell	CASELLA WASTE SYS INCcl a	$231,842,000	+5.0%	3,034,976	-0.1%	4.54%	+13.0%
EXPO	Sell	EXPONENT INC	$209,202,000	-4.2%	2,386,240	-0.1%	4.09%	+3.1%
SPSC	Sell	SPS COMM INC	$203,131,000	-1.2%	1,635,118	-10.1%	3.98%	+6.3%
DSGX	Sell	DESCARTES SYS GROUP INC	$194,256,000	+2.2%	3,057,705	-0.2%	3.80%	+10.0%
MODN	Sell	MODEL N INC	$166,688,000	+30.7%	4,869,648	-2.3%	3.26%	+40.7%
NOVT	Sell	NOVANTA INC	$162,549,000	-6.0%	1,405,527	-1.5%	3.18%	+1.1%
FSV	Buy	FIRSTSERVICE CORP NEW	$158,058,000	+0.1%	1,328,106	+1.9%	3.09%	+7.7%
OMCL	Sell	OMNICELL COM	$145,368,000	-23.9%	1,670,323	-0.6%	2.84%	-18.2%
ROLL	Sell	RBC BEARINGS INC	$141,093,000	-4.1%	678,953	-14.7%	2.76%	+3.2%
ROAD	Sell	CONSTRUCTION PARTNERS INC	$137,414,000	+23.2%	5,238,822	-1.7%	2.69%	+32.5%
AAON	Sell	AAON INC	$136,281,000	-2.1%	2,529,335	-0.5%	2.67%	+5.3%
FOXF	Sell	FOX FACTORY HLDG CORP	$130,882,000	-2.3%	1,655,059	-0.5%	2.56%	+5.1%
	Buy	PAYCOR HCM INC	$129,167,000	+23.0%	4,369,652	+8.2%	2.53%	+32.3%
RGEN	Sell	REPLIGEN CORP	$127,434,000	+2.3%	681,063	-11.2%	2.49%	+10.1%
BCPC	Buy	BALCHEM CORP	$125,655,000	-3.9%	1,033,516	+2.6%	2.46%	+3.4%
MMSI	Sell	MERIT MED SYS INC	$117,691,000	+4.0%	2,082,662	-0.1%	2.30%	+11.9%
AXON	Sell	AXON ENTERPRISE INC	$113,819,000	+24.1%	983,316	-0.1%	2.23%	+33.5%
SITE	Sell	SITEONE LANDSCAPE SUPPLY INC	$109,229,000	-12.6%	1,048,865	-0.2%	2.14%	-5.9%
SSD	Sell	SIMPSON MFG INC	$107,467,000	-22.1%	1,370,758	-0.1%	2.10%	-16.2%
SLP	Sell	SIMULATIONS PLUS INC	$106,535,000	-2.4%	2,194,792	-0.8%	2.08%	+5.0%
ALTR	Sell	ALTAIR ENGR INC	$103,487,000	-16.0%	2,340,282	-0.3%	2.02%	-9.6%
MRCY	Sell	MERCURY SYS INC	$97,542,000	-43.3%	2,402,524	-10.2%	1.91%	-39.0%
LMAT	Sell	LEMAITRE VASCULAR INC	$93,621,000	+10.8%	1,847,288	-0.5%	1.83%	+19.2%
BL	Sell	BLACKLINE INC	$84,014,000	-10.4%	1,402,571	-0.4%	1.64%	-3.6%
JBT	Sell	JOHN BEAN TECHNOLOGIES CORP	$79,253,000	-23.3%	921,551	-1.5%	1.55%	-17.5%
HLIO	Sell	HELIOS TECHNOLOGIES INC	$78,944,000	-27.8%	1,560,163	-5.5%	1.54%	-22.3%
TREX	Buy	TREX CO INC	$78,680,000	-18.8%	1,790,627	+0.5%	1.54%	-12.6%
PLOW	Sell	DOUGLAS DYNAMICS INC	$76,102,000	-9.4%	2,716,000	-7.1%	1.49%	-2.5%
PRO	Sell	PROS HOLDINGS INC	$72,738,000	-15.2%	2,944,846	-9.9%	1.42%	-8.8%
ESE	Sell	ESCO TECHNOLOGIES INC	$71,798,000	+7.0%	977,642	-0.4%	1.40%	+15.2%
MLAB	Sell	MESA LABS INC	$68,744,000	-35.0%	488,135	-5.8%	1.34%	-30.0%
WK	Sell	WORKIVA INC	$66,649,000	+3.1%	856,671	-12.5%	1.30%	+11.0%
QTWO	Sell	Q2 HLDGS INC	$65,155,000	-26.8%	2,023,459	-12.3%	1.28%	-21.2%
AQUA	Buy	EVOQUA WATER TECHNOLOGIES CO	$64,406,000	+51.3%	1,947,564	+48.7%	1.26%	+62.8%
CSVI	Sell	COMPUTER SVCS INC COM	$58,930,000	+39.4%	1,057,035	-7.6%	1.15%	+49.9%
	Buy	STEVANATO GROUP S P A	$58,840,000	+108.7%	3,473,436	+94.8%	1.15%	+124.4%
NEOG	Sell	NEOGEN CORP	$57,736,000	-46.2%	4,132,829	-7.3%	1.13%	-42.1%
BRKS	Sell	AZENTA INC	$57,448,000	-45.8%	1,340,367	-8.8%	1.12%	-41.7%
TRNS	Buy	TRANSCAT INC	$55,093,000	+69.3%	727,872	+27.1%	1.08%	+82.1%
	Sell	HILLMAN SOLUTIONS CORP	$55,050,000	-21.0%	7,301,127	-9.4%	1.08%	-14.9%
WDFC	Sell	WD 40 CO	$51,551,000	-16.5%	293,338	-4.3%	1.01%	-10.1%
OFLX	Sell	OMEGA FLEX INC	$50,767,000	-14.6%	548,122	-0.8%	0.99%	-8.1%
	Buy	CLEARWATER ANALYTICS HLDGS Icl a	$47,245,000	+148.4%	2,813,900	+78.1%	0.92%	+167.1%
	Sell	DEFINITIVE HEALTHCARE CORP	$44,612,000	-45.0%	2,870,772	-18.9%	0.87%	-40.9%
VERX	Sell	VERTEX INCcl a	$39,776,000	+4.9%	2,909,764	-13.0%	0.78%	+12.9%
VCEL	Sell	VERICEL CORP	$35,457,000	-17.4%	1,528,321	-10.3%	0.69%	-11.0%
NRC	Buy	NATIONAL RESH CORP	$29,119,000	+4.0%	731,621	+0.1%	0.57%	+12.0%
ROL	Buy	ROLLINS INC	$28,446,000	+1.2%	820,244	+1.9%	0.56%	+9.0%
JKHY	Buy	HENRY JACK & ASSOC INC	$27,045,000	+3.4%	148,380	+2.1%	0.53%	+11.1%
POOL	Buy	POOL CORP	$24,211,000	-7.9%	76,084	+1.6%	0.47%	-0.8%
FICO	Sell	FAIR ISAAC CORP	$22,075,000	-11.3%	53,579	-13.7%	0.43%	-4.6%
HEIA	Buy	HEICO CORP NEWcl a	$20,513,000	+10.3%	178,965	+1.4%	0.40%	+18.6%
TYL	Buy	TYLER TECHNOLOGIES INC	$20,383,000	+6.9%	58,657	+2.2%	0.40%	+15.0%
WSO	Buy	WATSCO INC	$19,270,000	+9.8%	74,847	+1.9%	0.38%	+18.2%
GGG	Buy	GRACO INC	$18,769,000	+2.4%	313,080	+1.4%	0.37%	+10.2%
TECH	Buy	BIO-TECHNE CORP	$18,606,000	-16.7%	65,515	+1.7%	0.36%	-10.3%
SSTK	Sell	SHUTTERSTOCK INC	$16,643,000	-73.1%	331,741	-69.2%	0.33%	-71.0%
MTN	Buy	VAIL RESORTS INC	$16,661,000	+0.3%	77,264	+1.4%	0.33%	+7.9%
IT	Buy	GARTNER INC	$15,997,000	+16.1%	57,815	+1.4%	0.31%	+24.7%
WST	Buy	WEST PHARMACEUTICAL SVSC INC	$14,783,000	-17.0%	60,073	+1.9%	0.29%	-10.8%
EVI	Sell	EVI INDS INC	$12,960,000	+66.9%	714,428	-8.1%	0.25%	+80.1%
TFX	Buy	TELEFLEX INCORPORATED	$12,058,000	-16.8%	59,853	+1.6%	0.24%	-10.3%
GWRE	Buy	GUIDEWIRE SOFTWARE INC	$11,521,000	-10.9%	187,087	+2.7%	0.22%	-4.3%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$11,024,000	-29.4%	191,221	+3.5%	0.22%	-23.9%
CGNX	Buy	COGNEX CORP	$10,999,000	-0.1%	265,367	+2.5%	0.22%	+7.5%
LCII	Buy	LCI INDS	$10,495,000	-7.8%	103,441	+1.6%	0.20%	-1.0%
FIVN	Buy	FIVE9 INC	$9,947,000	-14.9%	132,666	+3.4%	0.20%	-8.5%
CDNA	Sell	CAREDX INC	$9,881,000	-51.6%	580,533	-38.9%	0.19%	-48.0%
GNRC	Buy	GENERAC HLDGS INC	$7,828,000	-14.0%	43,943	+1.7%	0.15%	-7.8%
	Buy	LIGHTSPEED COMMERCE INC	$5,021,000	-14.3%	285,625	+8.7%	0.10%	-8.4%
DGII	Sell	DIGI INTL INC	$2,043,000	+10.0%	59,090	-22.9%	0.04%	+17.6%
PLMR	Sell	PALOMAR HLDGS INC	$1,836,000	+16.5%	21,932	-10.4%	0.04%	+24.1%
BLFS	Sell	BIOLIFE SOLUTIONS INC	$1,659,000	+47.3%	72,927	-10.6%	0.03%	+60.0%
ANSS	Sell	ANSYS INC	$1,185,000	-8.2%	5,346	-0.9%	0.02%	0.0%
CSGP	Sell	COSTAR GROUP INC	$1,123,000	+13.9%	16,126	-1.2%	0.02%	+22.2%
	Buy	USERTESTING INC	$1,019,000	+15.1%	259,925	+47.4%	0.02%	+25.0%
VRSK	Sell	VERISK ANALYTICS INC	$1,008,000	-2.5%	5,911	-1.0%	0.02%	+5.3%
TSCO	Sell	TRACTOR SUPPLY CO	$934,000	-4.5%	5,025	-0.5%	0.02%	0.0%
NSTG	Buy	NANOSTRING TECHNOLOGIES INC	$937,000	+79.8%	73,407	+79.1%	0.02%	+100.0%
WCN	Sell	WASTE CONNECTIONS INC	$916,000	+7.3%	6,780	-1.6%	0.02%	+12.5%
CPRT	Sell	COPART INC	$874,000	-3.5%	8,210	-1.6%	0.02%	+6.2%
FTNT	Buy	FORTINET INC	$868,000	-10.2%	17,665	+3.3%	0.02%	-5.6%
ROP	Buy	ROPER TECHNOLOGIES INC	$829,000	+6.1%	2,305	+16.4%	0.02%	+14.3%
WLDN	Buy	WILLDAN GROUP INC	$786,000	-33.8%	53,073	+23.2%	0.02%	-31.8%
OLO	New	OLO INCcl a	$770,000	–	97,530	–	0.02%	–
FDS	Sell	FACTSET RESH SYS INC	$727,000	+3.0%	1,818	-1.0%	0.01%	+7.7%
TKNO	Buy	ALPHA TEKNOVA INC	$655,000	-26.4%	196,149	+85.1%	0.01%	-18.8%
VEEV	Sell	VEEVA SYS INC	$582,000	-17.9%	3,530	-1.4%	0.01%	-15.4%
IDXX	Sell	IDEXX LABS INC	$515,000	-8.2%	1,580	-1.2%	0.01%	0.0%
INTU	Sell	INTUIT	$535,000	-0.9%	1,380	-1.4%	0.01%	0.0%
XYL	Sell	XYLEM INC	$459,000	+10.6%	5,255	-0.9%	0.01%	+12.5%
BLL	Sell	BALL CORP	$388,000	-30.5%	8,020	-1.1%	0.01%	-20.0%
GOOG	Buy	ALPHABET INCcap stk cl c	$375,000	-12.2%	3,900	+1900.0%	0.01%	-12.5%
ALGN	Buy	ALIGN TECHNOLOGY INC	$370,000	-7.3%	1,785	+5.9%	0.01%	0.0%
GOOGL	Buy	ALPHABET INCcap stk cl a	$373,000	-12.2%	3,900	+1900.0%	0.01%	-12.5%
TRU	Sell	TRANSUNION	$317,000	-33.0%	5,330	-9.9%	0.01%	-33.3%
ITW	Buy	ILLINOIS TOOL WKS INC	$273,000	+3.4%	1,510	+4.1%	0.01%	0.0%
STE	Sell	STERIS PLC	$269,000	-49.0%	1,615	-36.8%	0.01%	-50.0%
XM	Sell	QUALTRICS INTL INC	$177,000	-19.9%	17,366	-1.5%	0.00%	-25.0%
PGX	Exit	INVESCO EXCH TRADED FD TR IIpfd etf	$0	–	-11,350	–	-0.00%	–
PSA	Exit	PUBLIC STORAGE	$0	–	-670	–	-0.00%	–
WPC	Exit	WP CAREY INC	$0	–	-2,850	–	-0.00%	–
AVLR	Exit	AVALARA INC	$0	–	-142,037	–	-0.18%	–
ATR	Exit	APTARGROUP INC	$0	–	-136,780	–	-0.26%	–

Q2 2022

			Value		Shares		↓ Weighting
CWST	New	CASELLA WASTE SYS INCcl a	$220,708,000	–	3,036,706	–	4.01%	–
EXPO	New	EXPONENT INC	$218,401,000	–	2,387,674	–	3.97%	–
SPSC	New	SPS COMM INC	$205,695,000	–	1,819,506	–	3.74%	–
OMCL	New	OMNICELL COM	$191,080,000	–	1,679,828	–	3.48%	–
DSGX	New	DESCARTES SYS GROUP INC	$190,096,000	–	3,063,101	–	3.46%	–
NOVT	New	NOVANTA INC	$172,993,000	–	1,426,507	–	3.15%	–
MRCY	New	MERCURY SYS INC	$172,129,000	–	2,675,714	–	3.13%	–
FSV	New	FIRSTSERVICE CORP NEW	$157,900,000	–	1,302,806	–	2.87%	–
ROLL	New	RBC BEARINGS INC	$147,161,000	–	795,678	–	2.68%	–
AAON	New	AAON INC	$139,217,000	–	2,542,306	–	2.53%	–
SSD	New	SIMPSON MFG INC	$138,002,000	–	1,371,655	–	2.51%	–
FOXF	New	FOX FACTORY HLDG CORP	$133,983,000	–	1,663,556	–	2.44%	–
BCPC	New	BALCHEM CORP	$130,694,000	–	1,007,353	–	2.38%	–
MODN	New	MODEL N INC	$127,500,000	–	4,984,368	–	2.32%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$124,961,000	–	1,051,243	–	2.27%	–
RGEN	New	REPLIGEN CORP	$124,609,000	–	767,299	–	2.27%	–
ALTR	New	ALTAIR ENGR INC	$123,189,000	–	2,346,454	–	2.24%	–
MMSI	New	MERIT MED SYS INC	$113,193,000	–	2,085,747	–	2.06%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$111,564,000	–	5,327,797	–	2.03%	–
HLIO	New	HELIOS TECHNOLOGIES INC	$109,348,000	–	1,650,540	–	1.99%	–
SLP	New	SIMULATIONS PLUS INC	$109,154,000	–	2,212,733	–	1.98%	–
NEOG	New	NEOGEN CORP	$107,342,000	–	4,455,883	–	1.95%	–
BRKS	New	AZENTA INC	$105,977,000	–	1,469,865	–	1.93%	–
MLAB	New	MESA LABS INC	$105,709,000	–	518,336	–	1.92%	–
	New	PAYCOR HCM INC	$105,041,000	–	4,040,032	–	1.91%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$103,315,000	–	935,657	–	1.88%	–
TREX	New	TREX CO INC	$96,943,000	–	1,781,381	–	1.76%	–
BL	New	BLACKLINE INC	$93,795,000	–	1,408,331	–	1.71%	–
AXON	New	AXON ENTERPRISE INC	$91,716,000	–	984,396	–	1.67%	–
QTWO	New	Q2 HLDGS INC	$88,975,000	–	2,306,854	–	1.62%	–
PRO	New	PROS HOLDINGS INC	$85,773,000	–	3,270,028	–	1.56%	–
LMAT	New	LEMAITRE VASCULAR INC	$84,531,000	–	1,855,786	–	1.54%	–
PLOW	New	DOUGLAS DYNAMICS INC	$83,991,000	–	2,922,457	–	1.53%	–
	New	DEFINITIVE HEALTHCARE CORP	$81,146,000	–	3,538,855	–	1.48%	–
	New	HILLMAN SOLUTIONS CORP	$69,644,000	–	8,060,597	–	1.27%	–
ESE	New	ESCO TECHNOLOGIES INC	$67,101,000	–	981,444	–	1.22%	–
WK	New	WORKIVA INC	$64,620,000	–	979,241	–	1.18%	–
SSTK	New	SHUTTERSTOCK INC	$61,784,000	–	1,078,061	–	1.12%	–
WDFC	New	WD 40 CO	$61,725,000	–	306,541	–	1.12%	–
OFLX	New	OMEGA FLEX INC	$59,456,000	–	552,467	–	1.08%	–
VCEL	New	VERICEL CORP	$42,920,000	–	1,704,516	–	0.78%	–
AQUA	New	EVOQUA WATER TECHNOLOGIES CO	$42,578,000	–	1,309,679	–	0.77%	–
CSVI	New	COMPUTER SVCS INC COM	$42,284,000	–	1,143,962	–	0.77%	–
VERX	New	VERTEX INCcl a	$37,910,000	–	3,345,959	–	0.69%	–
TRNS	New	TRANSCAT INC	$32,542,000	–	572,822	–	0.59%	–
	New	STEVANATO GROUP S P A	$28,192,000	–	1,783,160	–	0.51%	–
ROL	New	ROLLINS INC	$28,118,000	–	805,222	–	0.51%	–
NRC	New	NATIONAL RESH CORP	$27,988,000	–	731,135	–	0.51%	–
POOL	New	POOL CORP	$26,296,000	–	74,869	–	0.48%	–
JKHY	New	HENRY JACK & ASSOC INC	$26,156,000	–	145,295	–	0.48%	–
FICO	New	FAIR ISAAC CORP	$24,891,000	–	62,089	–	0.45%	–
TECH	New	BIO-TECHNE CORP	$22,330,000	–	64,419	–	0.41%	–
CDNA	New	CAREDX INC	$20,400,000	–	949,698	–	0.37%	–
TYL	New	TYLER TECHNOLOGIES INC	$19,076,000	–	57,374	–	0.35%	–
	New	CLEARWATER ANALYTICS HLDGS Icl a	$19,022,000	–	1,579,915	–	0.35%	–
HEIA	New	HEICO CORP NEWcl a	$18,601,000	–	176,515	–	0.34%	–
GGG	New	GRACO INC	$18,336,000	–	308,628	–	0.33%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$17,820,000	–	58,933	–	0.32%	–
WSO	New	WATSCO INC	$17,543,000	–	73,457	–	0.32%	–
MTN	New	VAIL RESORTS INC	$16,608,000	–	76,164	–	0.30%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$15,608,000	–	184,671	–	0.28%	–
TFX	New	TELEFLEX INCORPORATED	$14,490,000	–	58,938	–	0.26%	–
ATR	New	APTARGROUP INC	$14,117,000	–	136,780	–	0.26%	–
IT	New	GARTNER INC	$13,784,000	–	57,000	–	0.25%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$12,927,000	–	182,092	–	0.24%	–
FIVN	New	FIVE9 INC	$11,694,000	–	128,306	–	0.21%	–
LCII	New	LCI INDS	$11,387,000	–	101,776	–	0.21%	–
CGNX	New	COGNEX CORP	$11,006,000	–	258,852	–	0.20%	–
AVLR	New	AVALARA INC	$10,028,000	–	142,037	–	0.18%	–
GNRC	New	GENERAC HLDGS INC	$9,103,000	–	43,228	–	0.17%	–
EVI	New	EVI INDS INC	$7,763,000	–	777,119	–	0.14%	–
	New	LIGHTSPEED COMMERCE INC	$5,859,000	–	262,750	–	0.11%	–
DGII	New	DIGI INTL INC	$1,857,000	–	76,675	–	0.03%	–
USPH	New	U S PHYSICAL THERAPY	$1,761,000	–	16,125	–	0.03%	–
NVEE	New	NV5 GLOBAL INC	$1,727,000	–	14,792	–	0.03%	–
THBRF	New	THUNDERBIRD ENTERTAINMENT GROU	$1,666,000	–	588,950	–	0.03%	–
IIIV	New	I3 VERTICALS INC	$1,671,000	–	66,802	–	0.03%	–
PLMR	New	PALOMAR HLDGS INC	$1,576,000	–	24,477	–	0.03%	–
KIDS	New	ORTHOPEDIATRICS CORP	$1,389,000	–	32,183	–	0.02%	–
CYRX	New	CRYOPORT INC	$1,307,000	–	42,202	–	0.02%	–
TCYSF	New	TECSYS INC COM	$1,317,000	–	50,740	–	0.02%	–
ANSS	New	ANSYS INC	$1,291,000	–	5,395	–	0.02%	–
SSTI	New	SHOTSPOTTER INC	$1,285,000	–	47,735	–	0.02%	–
WLDN	New	WILLDAN GROUP INC	$1,188,000	–	43,063	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$1,141,000	–	2,380	–	0.02%	–
AAPL	New	APPLE INC	$1,135,000	–	8,300	–	0.02%	–
HCAT	New	HEALTH CATALYST INC	$1,135,000	–	78,308	–	0.02%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$1,126,000	–	81,547	–	0.02%	–
MEG	New	MONTROSE ENVIRONMENTAL GROUP	$1,115,000	–	33,035	–	0.02%	–
VRSK	New	VERISK ANALYTICS INC	$1,034,000	–	5,972	–	0.02%	–
CSGP	New	COSTAR GROUP INC	$986,000	–	16,315	–	0.02%	–
MSFT	New	MICROSOFT CORP	$994,000	–	3,869	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$978,000	–	5,048	–	0.02%	–
FTNT	New	FORTINET INC	$967,000	–	17,096	–	0.02%	–
FAST	New	FASTENAL CO	$1,012,000	–	20,275	–	0.02%	–
SPGI	New	S&P GLOBAL INC	$951,000	–	2,822	–	0.02%	–
	New	USERTESTING INC	$885,000	–	176,360	–	0.02%	–
CPRT	New	COPART INC	$906,000	–	8,341	–	0.02%	–
TKNO	New	ALPHA TEKNOVA INC	$890,000	–	105,949	–	0.02%	–
WCN	New	WASTE CONNECTIONS INC	$854,000	–	6,890	–	0.02%	–
LIN	New	LINDE PLC	$769,000	–	2,675	–	0.01%	–
ROP	New	ROPER TECHNOLOGIES INC	$781,000	–	1,980	–	0.01%	–
FDS	New	FACTSET RESH SYS INC	$706,000	–	1,836	–	0.01%	–
SMLR	New	SEMLER SCIENTIFIC INC	$715,000	–	25,379	–	0.01%	–
VEEV	New	VEEVA SYS INC	$709,000	–	3,580	–	0.01%	–
CDXS	New	CODEXIS INC	$742,000	–	70,911	–	0.01%	–
MKL	New	MARKEL CORP	$737,000	–	570	–	0.01%	–
JNJ	New	JOHNSON & JOHNSON	$645,000	–	3,635	–	0.01%	–
XOM	New	EXXON MOBIL CORP	$649,000	–	7,579	–	0.01%	–
BLL	New	BALL CORP	$558,000	–	8,107	–	0.01%	–
STE	New	STERIS PLC	$527,000	–	2,555	–	0.01%	–
IDXX	New	IDEXX LABS INC	$561,000	–	1,600	–	0.01%	–
INTU	New	INTUIT	$540,000	–	1,400	–	0.01%	–
NSTG	New	NANOSTRING TECHNOLOGIES INC	$521,000	–	40,987	–	0.01%	–
TRU	New	TRANSUNION	$473,000	–	5,915	–	0.01%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$439,000	–	1,200	–	0.01%	–
SJM	New	SMUCKER J M CO	$467,000	–	3,645	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$425,000	–	195	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$427,000	–	195	–	0.01%	–
XYL	New	XYLEM INC	$415,000	–	5,305	–	0.01%	–
MA	New	MASTERCARD INCORPORATEDcl a	$383,000	–	1,215	–	0.01%	–
ALGN	New	ALIGN TECHNOLOGY INC	$399,000	–	1,686	–	0.01%	–
GRMN	New	GARMIN LTD	$380,000	–	3,870	–	0.01%	–
DLB	New	DOLBY LABORATORIES INC	$393,000	–	5,490	–	0.01%	–
ROG	New	ROGERS CORP	$320,000	–	1,220	–	0.01%	–
DHR	New	DANAHER CORPORATION	$346,000	–	1,365	–	0.01%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$304,000	–	1,115	–	0.01%	–
NKE	New	NIKE INCcl b	$341,000	–	3,340	–	0.01%	–
AMGN	New	AMGEN INC	$324,000	–	1,330	–	0.01%	–
HD	New	HOME DEPOT INC	$333,000	–	1,215	–	0.01%	–
ITW	New	ILLINOIS TOOL WKS INC	$264,000	–	1,450	–	0.01%	–
WTRG	New	ESSENTIAL UTILS INC	$286,000	–	6,237	–	0.01%	–
PEP	New	PEPSICO INC	$242,000	–	1,450	–	0.00%	–
MRK	New	MERCK & CO INC	$228,000	–	2,500	–	0.00%	–
JPM	New	JPMORGAN CHASE & CO	$233,000	–	2,066	–	0.00%	–
WPC	New	WP CAREY INC	$236,000	–	2,850	–	0.00%	–
PSA	New	PUBLIC STORAGE	$209,000	–	670	–	0.00%	–
XM	New	QUALTRICS INTL INC	$221,000	–	17,631	–	0.00%	–
PGX	New	INVESCO EXCH TRADED FD TR IIpfd etf	$140,000	–	11,350	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
PGX	Exit	INVESCO EXCH TRADED FD TR IIpfd etf	$0	–	-11,350	–	-0.00%	–
PEP	Exit	PEPSICO INC	$0	–	-1,450	–	-0.00%	–
WPC	Exit	WP CAREY INC	$0	–	-2,850	–	-0.00%	–
INTC	Exit	INTEL CORP	$0	–	-4,150	–	-0.00%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-3,722	–	-0.00%	–
STE	Exit	STERIS PLC	$0	–	-1,450	–	-0.00%	–
ECL	Exit	ECOLAB INC	$0	–	-1,235	–	-0.00%	–
MMM	Exit	3M CO	$0	–	-1,820	–	-0.00%	–
BRKB	Exit	BERKSHIRE HATHAWAY INC DELcl b new	$0	–	-1,100	–	-0.00%	–
ITW	Exit	ILLINOIS TOOL WKS INC	$0	–	-1,430	–	-0.00%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.00%	–
WTRG	Exit	ESSENTIAL UTILS INC	$0	–	-6,087	–	-0.00%	–
MASI	Exit	MASIMO CORP	$0	–	-1,305	–	-0.01%	–
COUP	Exit	COUPA SOFTWARE INC	$0	–	-1,755	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,066	–	-0.01%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,130	–	-0.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,200	–	-0.01%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-5,000	–	-0.01%	–
SJM	Exit	SMUCKER J M CO	$0	–	-3,635	–	-0.01%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-7,554	–	-0.01%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-1,370	–	-0.01%	–
NKE	Exit	NIKE INCcl b	$0	–	-3,195	–	-0.01%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-5,119	–	-0.01%	–
XM	Exit	QUALTRICS INTL INC	$0	–	-9,601	–	-0.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-195	–	-0.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-195	–	-0.01%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,480	–	-0.01%	–
XYL	Exit	XYLEM INC	$0	–	-5,115	–	-0.01%	–
MKL	Exit	MARKEL CORP	$0	–	-567	–	-0.01%	–
TRU	Exit	TRANSUNION	$0	–	-5,635	–	-0.01%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-1,085	–	-0.01%	–
BLL	Exit	BALL CORP	$0	–	-7,007	–	-0.01%	–
GRMN	Exit	GARMIN LTD	$0	–	-4,570	–	-0.01%	–
WCN	Exit	WASTE CONNECTIONS INC	$0	–	-6,200	–	-0.01%	–
LIN	Exit	LINDE PLC	$0	–	-2,665	–	-0.01%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-2,735	–	-0.01%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-1,715	–	-0.01%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,284	–	-0.01%	–
INTU	Exit	INTUIT	$0	–	-1,590	–	-0.01%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-1,490	–	-0.01%	–
BDSX	Exit	BIODESIX INC	$0	–	-115,125	–	-0.01%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-3,834	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-2,390	–	-0.02%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-9,895	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-8,200	–	-0.02%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-6,343	–	-0.02%	–
NSTG	Exit	NANOSTRING TECHNOLOGIES INC	$0	–	-29,025	–	-0.02%	–
SITM	Exit	SITIME CORP	$0	–	-6,775	–	-0.02%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-17,205	–	-0.02%	–
FTNT	Exit	FORTINET INC	$0	–	-4,946	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-7,000	–	-0.02%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-2,142	–	-0.02%	–
FAST	Exit	FASTENAL CO	$0	–	-28,327	–	-0.02%	–
IIN	Exit	INTRICON CORP	$0	–	-83,925	–	-0.02%	–
CPRT	Exit	COPART INC	$0	–	-11,532	–	-0.02%	–
WLDN	Exit	WILLDAN GROUP INC	$0	–	-43,780	–	-0.02%	–
LSF	Exit	LAIRD SUPERFOOD INC	$0	–	-87,925	–	-0.02%	–
IIIV	Exit	I3 VERTICALS INC	$0	–	-67,200	–	-0.02%	–
TKNO	Exit	ALPHA TEKNOVA INC	$0	–	-65,700	–	-0.02%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-47,620	–	-0.02%	–
USPH	Exit	U S PHYSICAL THERAPY	$0	–	-16,075	–	-0.02%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-42,410	–	-0.02%	–
CYRX	Exit	CRYOPORT INC	$0	–	-29,200	–	-0.03%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-20,707	–	-0.03%	–
ANSS	Exit	ANSYS INC	$0	–	-5,860	–	-0.03%	–
PLMR	Exit	PALOMAR HLDGS INC	$0	–	-24,775	–	-0.03%	–
CDXS	Exit	CODEXIS INC	$0	–	-86,335	–	-0.03%	–
KIDS	Exit	ORTHOPEDIATRICS CORP	$0	–	-32,095	–	-0.03%	–
DGII	Exit	DIGI INTL INC	$0	–	-98,575	–	-0.03%	–
SMLR	Exit	SEMLER SCIENTIFIC INC	$0	–	-17,895	–	-0.03%	–
THBRF	Exit	THUNDERBIRD ENTERTAINMENT GROU	$0	–	-617,250	–	-0.03%	–
TRNS	Exit	TRANSCAT INC	$0	–	-37,075	–	-0.03%	–
	Exit	DEFINITIVE HEALTHCARE CORP	$0	–	-100,273	–	-0.06%	–
LCII	Exit	LCI INDS	$0	–	-97,461	–	-0.18%	–
ATR	Exit	APTARGROUP INC	$0	–	-126,018	–	-0.21%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-316,044	–	-0.22%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-42,324	–	-0.23%	–
	Exit	LIGHTSPEED COMMERCE INC	$0	–	-183,515	–	-0.24%	–
IAA	Exit	IAA INC	$0	–	-331,539	–	-0.25%	–
AVLR	Exit	AVALARA INC	$0	–	-105,227	–	-0.25%	–
WSO	Exit	WATSCO INC	$0	–	-74,727	–	-0.27%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-169,015	–	-0.28%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-49,288	–	-0.28%	–
CGNX	Exit	COGNEX CORP	$0	–	-254,077	–	-0.28%	–
GGG	Exit	GRACO INC	$0	–	-307,348	–	-0.30%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-181,597	–	-0.30%	–
TFX	Exit	TELEFLEX INCORPORATED	$0	–	-58,093	–	-0.30%	–
IT	Exit	GARTNER INC	$0	–	-72,400	–	-0.30%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-149,105	–	-0.34%	–
MTN	Exit	VAIL RESORTS INC	$0	–	-73,259	–	-0.34%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-186,191	–	-0.36%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-56,754	–	-0.36%	–
NRC	Exit	NATIONAL RESH CORP	$0	–	-654,260	–	-0.38%	–
ROL	Exit	ROLLINS INC	$0	–	-813,522	–	-0.40%	–
EVI	Exit	EVI INDS INC	$0	–	-1,062,682	–	-0.40%	–
POOL	Exit	POOL CORP	$0	–	-74,189	–	-0.45%	–
TECH	Exit	BIO-TECHNE CORP	$0	–	-75,189	–	-0.50%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-87,133	–	-0.51%	–
CSVI	Exit	COMPUTER SVCS INC COM	$0	–	-786,442	–	-0.64%	–
SSTK	Exit	SHUTTERSTOCK INC	$0	–	-413,855	–	-0.65%	–
VERX	Exit	VERTEX INCcl a	$0	–	-2,672,250	–	-0.71%	–
DORM	Exit	DORMAN PRODS INC	$0	–	-556,299	–	-0.73%	–
WDFC	Exit	WD 40 CO	$0	–	-251,046	–	-0.80%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-1,527,762	–	-0.84%	–
CDNA	Exit	CAREDX INC	$0	–	-1,032,358	–	-0.90%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-815,754	–	-0.99%	–
ESE	Exit	ESCO TECHNOLOGIES INC	$0	–	-944,453	–	-1.01%	–
OFLX	Exit	OMEGA FLEX INC	$0	–	-549,610	–	-1.08%	–
VCEL	Exit	VERICEL CORP	$0	–	-1,608,013	–	-1.09%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-2,211,775	–	-1.09%	–
ROG	Exit	ROGERS CORP	$0	–	-430,538	–	-1.11%	–
PLOW	Exit	DOUGLAS DYNAMICS INC	$0	–	-2,406,851	–	-1.21%	–
QTWO	Exit	Q2 HLDGS INC	$0	–	-1,106,058	–	-1.23%	–
	Exit	HILLMAN SOLUTIONS CORP	$0	–	-7,954,328	–	-1.31%	–
LMAT	Exit	LEMAITRE VASCULAR INC	$0	–	-1,846,151	–	-1.36%	–
WK	Exit	WORKIVA INC	$0	–	-738,688	–	-1.44%	–
AAON	Exit	AAON INC	$0	–	-1,753,145	–	-1.58%	–
BRKS	Exit	BROOKS AUTOMATION INC NEW	$0	–	-1,144,096	–	-1.62%	–
HLIO	Exit	HELIOS TECHNOLOGIES INC	$0	–	-1,500,121	–	-1.70%	–
MODN	Exit	MODEL N INC	$0	–	-3,876,097	–	-1.80%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-2,946,628	–	-1.87%	–
MRCY	Exit	MERCURY SYS INC	$0	–	-2,911,108	–	-1.91%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-996,923	–	-1.94%	–
BCPC	Exit	BALCHEM CORP	$0	–	-997,051	–	-2.00%	–
SSD	Exit	SIMPSON MFG INC	$0	–	-1,379,305	–	-2.04%	–
MLAB	Exit	MESA LABS INC	$0	–	-514,623	–	-2.15%	–
ALTR	Exit	ALTAIR ENGR INC	$0	–	-2,325,859	–	-2.22%	–
BL	Exit	BLACKLINE INC	$0	–	-1,382,962	–	-2.26%	–
NEOG	Exit	NEOGEN CORP	$0	–	-3,778,534	–	-2.27%	–
ROLL	Exit	RBC BEARINGS INC	$0	–	-794,041	–	-2.33%	–
TREX	Exit	TREX CO INC	$0	–	-1,670,595	–	-2.36%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-981,252	–	-2.38%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-2,392,992	–	-2.38%	–
NOVT	Exit	NOVANTA INC	$0	–	-1,134,498	–	-2.42%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-5,322,088	–	-2.46%	–
PCTY	Exit	PAYLOCITY HLDG CORP	$0	–	-691,170	–	-2.68%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-1,502,195	–	-3.00%	–
OMCL	Exit	OMNICELL COM	$0	–	-1,502,425	–	-3.08%	–
FSV	Exit	FIRSTSERVICE CORP NEW	$0	–	-1,246,772	–	-3.11%	–
EXPO	Exit	EXPONENT INC	$0	–	-2,070,789	–	-3.24%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-1,210,251	–	-3.34%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-3,063,297	–	-3.44%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-871,390	–	-3.48%	–
CWST	Exit	CASELLA WASTE SYS INCcl a	$0	–	-3,538,337	–	-3.72%	–
SPSC	Exit	SPS COMM INC	$0	–	-1,802,509	–	-4.02%	–

Q3 2021

			Value		Shares		↓ Weighting
SPSC	Buy	SPS COMM INC	$290,763,000	+63.1%	1,802,509	+1.0%	4.02%	+56.2%
CWST	Buy	CASELLA WASTE SYS INCcl a	$268,701,000	+23.7%	3,538,337	+3.3%	3.72%	+18.5%
RGEN	Sell	REPLIGEN CORP	$251,823,000	+23.3%	871,390	-14.8%	3.48%	+18.1%
DSGX	Buy	DESCARTES SYS GROUP INC	$248,924,000	+18.8%	3,063,297	+1.1%	3.44%	+13.8%
SITE	Buy	SITEONE LANDSCAPE SUPPLY INC	$241,409,000	+19.3%	1,210,251	+1.2%	3.34%	+14.2%
EXPO	Buy	EXPONENT INC	$234,310,000	+31.7%	2,070,789	+3.8%	3.24%	+26.1%
FSV	Buy	FIRSTSERVICE CORP NEW	$225,017,000	+6.5%	1,246,772	+1.1%	3.11%	+2.0%
OMCL	Buy	OMNICELL COM	$223,005,000	+1.8%	1,502,425	+3.8%	3.08%	-2.6%
FOXF	Buy	FOX FACTORY HLDG CORP	$217,127,000	-6.1%	1,502,195	+1.2%	3.00%	-10.0%
PCTY	Buy	PAYLOCITY HLDG CORP	$193,804,000	+48.7%	691,170	+1.2%	2.68%	+42.5%
ROAD	Buy	CONSTRUCTION PARTNERS INC	$177,598,000	+7.5%	5,322,088	+1.2%	2.46%	+3.0%
NOVT	Buy	NOVANTA INC	$175,280,000	+16.3%	1,134,498	+1.4%	2.42%	+11.4%
MMSI	Buy	MERIT MED SYS INC	$171,817,000	+12.9%	2,392,992	+1.6%	2.38%	+8.1%
AXON	Buy	AXON ENTERPRISE INC	$171,739,000	+0.2%	981,252	+1.2%	2.38%	-4.0%
TREX	Buy	TREX CO INC	$170,284,000	+0.9%	1,670,595	+1.2%	2.36%	-3.3%
ROLL	Buy	RBC BEARINGS INC	$168,496,000	+7.6%	794,041	+1.1%	2.33%	+3.1%
NEOG	Buy	NEOGEN CORP	$164,102,000	-4.7%	3,778,534	+1.0%	2.27%	-8.8%
BL	Buy	BLACKLINE INC	$163,272,000	+6.9%	1,382,962	+0.8%	2.26%	+2.4%
ALTR	Buy	ALTAIR ENGR INC	$160,345,000	+1.1%	2,325,859	+1.1%	2.22%	-3.2%
MLAB	Buy	MESA LABS INC	$155,601,000	+12.8%	514,623	+1.2%	2.15%	+8.1%
SSD	Buy	SIMPSON MFG INC	$147,544,000	-2.0%	1,379,305	+1.2%	2.04%	-6.2%
BCPC	Buy	BALCHEM CORP	$144,642,000	+16.5%	997,051	+5.4%	2.00%	+11.6%
JBT	Buy	JOHN BEAN TECHNOLOGIES CORP	$140,118,000	+10.3%	996,923	+11.9%	1.94%	+5.7%
MRCY	Buy	MERCURY SYS INC	$138,045,000	-25.7%	2,911,108	+3.9%	1.91%	-28.8%
VCRA	Buy	VOCERA COMMUNICATIONS INC	$134,838,000	+16.2%	2,946,628	+1.2%	1.87%	+11.3%
MODN	Sell	MODEL N INC	$129,849,000	-8.6%	3,876,097	-6.5%	1.80%	-12.5%
HLIO	Buy	HELIOS TECHNOLOGIES INC	$123,175,000	+14.7%	1,500,121	+9.0%	1.70%	+9.9%
BRKS	Buy	BROOKS AUTOMATION INC NEW	$117,098,000	+54.9%	1,144,096	+44.2%	1.62%	+48.4%
AAON	Buy	AAON INC	$114,550,000	+5.1%	1,753,145	+0.7%	1.58%	+0.7%
WK	Buy	WORKIVA INC	$104,125,000	+28.6%	738,688	+1.5%	1.44%	+23.2%
LMAT	Buy	LEMAITRE VASCULAR INC	$98,012,000	-12.0%	1,846,151	+1.1%	1.36%	-15.7%
	New	HILLMAN SOLUTIONS CORP	$94,895,000	–	7,954,328	–	1.31%	–
QTWO	Buy	Q2 HLDGS INC	$88,639,000	+15.3%	1,106,058	+47.6%	1.23%	+10.5%
PLOW	Sell	DOUGLAS DYNAMICS INC	$87,369,000	-23.9%	2,406,851	-14.7%	1.21%	-27.1%
ROG	Buy	ROGERS CORP	$80,287,000	-6.1%	430,538	+1.1%	1.11%	-10.0%
PRO	Sell	PROS HOLDINGS INC	$78,474,000	-28.0%	2,211,775	-7.5%	1.09%	-31.0%
VCEL	Buy	VERICEL CORP	$78,471,000	+13.9%	1,608,013	+22.6%	1.09%	+9.1%
OFLX	Buy	OMEGA FLEX INC	$78,424,000	-1.6%	549,610	+1.1%	1.08%	-5.8%
ESE	Sell	ESCO TECHNOLOGIES INC	$72,723,000	-18.4%	944,453	-0.6%	1.01%	-21.9%
LOPE	Sell	GRAND CANYON ED INC	$71,754,000	-17.6%	815,754	-15.7%	0.99%	-21.1%
CDNA	Buy	CAREDX INC	$65,421,000	+105.3%	1,032,358	+196.5%	0.90%	+96.7%
SLP	Sell	SIMULATIONS PLUS INC	$60,347,000	-33.0%	1,527,762	-6.9%	0.84%	-35.8%
WDFC	Sell	WD 40 CO	$58,112,000	-22.2%	251,046	-13.9%	0.80%	-25.5%
DORM	Sell	DORMAN PRODS INC	$52,665,000	-42.9%	556,299	-37.5%	0.73%	-45.3%
VERX	Sell	VERTEX INCcl a	$51,361,000	-26.0%	2,672,250	-15.5%	0.71%	-29.0%
SSTK	New	SHUTTERSTOCK INC	$46,898,000	–	413,855	–	0.65%	–
CSVI	New	COMPUTER SVCS INC COM	$46,400,000	–	786,442	–	0.64%	–
WST	Sell	WEST PHARMACEUTICAL SVSC INC	$36,991,000	+2.0%	87,133	-13.7%	0.51%	-2.3%
TECH	Buy	BIO-TECHNE CORP	$36,434,000	+8.8%	75,189	+1.1%	0.50%	+4.1%
POOL	Sell	POOL CORP	$32,228,000	-19.7%	74,189	-15.2%	0.45%	-23.1%
EVI	Sell	EVI INDS INC	$28,905,000	-5.9%	1,062,682	-1.8%	0.40%	-9.9%
ROL	Buy	ROLLINS INC	$28,742,000	+3.6%	813,522	+0.3%	0.40%	-0.7%
NRC	Sell	NATIONAL RESH CORP	$27,590,000	-13.0%	654,260	-5.3%	0.38%	-16.6%
TYL	Buy	TYLER TECHNOLOGIES INC	$26,030,000	+2.8%	56,754	+1.4%	0.36%	-1.6%
BFAM	Sell	BRIGHT HORIZONS FAM SOL IN D	$25,959,000	-5.6%	186,191	-0.4%	0.36%	-9.6%
MTN	Sell	VAIL RESORTS INC	$24,472,000	+5.1%	73,259	-0.4%	0.34%	+0.9%
JKHY	Buy	HENRY JACK & ASSOC INC	$24,462,000	+1.1%	149,105	+0.7%	0.34%	-3.4%
IT	Buy	GARTNER INC	$22,001,000	+27.1%	72,400	+1.3%	0.30%	+21.6%
TFX	Buy	TELEFLEX INCORPORATED	$21,875,000	-3.3%	58,093	+3.2%	0.30%	-7.3%
GWRE	Buy	GUIDEWIRE SOFTWARE INC	$21,586,000	+6.8%	181,597	+1.3%	0.30%	+2.4%
GGG	Sell	GRACO INC	$21,505,000	-7.6%	307,348	-0.0%	0.30%	-11.3%
CGNX	Buy	COGNEX CORP	$20,382,000	-1.3%	254,077	+3.4%	0.28%	-5.4%
GNRC	Sell	GENERAC HLDGS INC	$20,143,000	-21.1%	49,288	-19.8%	0.28%	-24.4%
HEIA	Sell	HEICO CORP NEWcl a	$20,016,000	-7.2%	169,015	-2.7%	0.28%	-11.2%
WSO	Buy	WATSCO INC	$19,774,000	-6.5%	74,727	+1.3%	0.27%	-10.2%
AVLR	Buy	AVALARA INC	$18,391,000	+11.3%	105,227	+3.1%	0.25%	+6.3%
IAA	Sell	IAA INC	$18,092,000	-0.1%	331,539	-0.2%	0.25%	-4.6%
	New	LIGHTSPEED COMMERCE INC	$17,696,000	–	183,515	–	0.24%	–
FICO	Sell	FAIR ISAAC CORP	$16,842,000	-24.6%	42,324	-4.7%	0.23%	-27.9%
HCAT	Sell	HEALTH CATALYST INC	$15,805,000	-10.6%	316,044	-0.7%	0.22%	-14.1%
ATR	Sell	APTARGROUP INC	$15,040,000	-20.9%	126,018	-6.6%	0.21%	-24.4%
LCII	Sell	LCI INDS	$13,121,000	+2.0%	97,461	-0.4%	0.18%	-2.2%
	New	DEFINITIVE HEALTHCARE CORP	$4,295,000	–	100,273	–	0.06%	–
TRNS	Sell	TRANSCAT INC	$2,391,000	-4.0%	37,075	-15.9%	0.03%	-8.3%
THBRF	New	THUNDERBIRD ENTERTAINMENT GROU	$2,342,000	–	617,250	–	0.03%	–
SMLR	New	SEMLER SCIENTIFIC INC	$2,237,000	–	17,895	–	0.03%	–
DGII	Buy	DIGI INTL INC	$2,072,000	+4.7%	98,575	+0.2%	0.03%	0.0%
KIDS	Sell	ORTHOPEDIATRICS CORP	$2,103,000	-10.0%	32,095	-13.2%	0.03%	-14.7%
ANSS	Sell	ANSYS INC	$1,995,000	-72.7%	5,860	-72.1%	0.03%	-73.3%
PLMR	Buy	PALOMAR HLDGS INC	$2,003,000	+7.3%	24,775	+0.2%	0.03%	+3.7%
NVEE	Buy	NV5 GLOBAL INC	$2,041,000	+4.6%	20,707	+0.2%	0.03%	0.0%
CDXS	Sell	CODEXIS INC	$2,008,000	-19.5%	86,335	-21.6%	0.03%	-22.2%
CYRX	Sell	CRYOPORT INC	$1,942,000	-9.9%	29,200	-14.6%	0.03%	-12.9%
BLFS	Sell	BIOLIFE SOLUTIONS INC	$1,795,000	-20.2%	42,410	-16.0%	0.02%	-21.9%
USPH	Buy	U S PHYSICAL THERAPY	$1,778,000	+13.0%	16,075	+18.4%	0.02%	+8.7%
SSTI	Buy	SHOTSPOTTER INC	$1,732,000	-25.3%	47,620	+0.2%	0.02%	-27.3%
TKNO	New	ALPHA TEKNOVA INC	$1,635,000	–	65,700	–	0.02%	–
IIIV	Buy	I3 VERTICALS INC	$1,627,000	-8.5%	67,200	+14.1%	0.02%	-11.5%
LSF	Buy	LAIRD SUPERFOOD INC	$1,678,000	+3.6%	87,925	+62.1%	0.02%	0.0%
CPRT	Sell	COPART INC	$1,600,000	-76.2%	11,532	-77.4%	0.02%	-77.3%
WLDN	Buy	WILLDAN GROUP INC	$1,558,000	-5.3%	43,780	+0.2%	0.02%	-8.3%
IIN	Buy	INTRICON CORP	$1,524,000	-6.4%	83,925	+15.9%	0.02%	-12.5%
FTNT	Buy	FORTINET INC	$1,444,000	+23.8%	4,946	+1.0%	0.02%	+17.6%
ALGN	Buy	ALIGN TECHNOLOGY INC	$1,425,000	+10.0%	2,142	+0.9%	0.02%	+5.3%
TSCO	Buy	TRACTOR SUPPLY CO	$1,418,000	+9.2%	7,000	+0.4%	0.02%	+5.3%
FAST	Buy	FASTENAL CO	$1,462,000	-0.1%	28,327	+0.7%	0.02%	-4.8%
CSGP	Buy	COSTAR GROUP INC	$1,481,000	+10.1%	17,205	+5.9%	0.02%	+5.3%
SITM	Buy	SITIME CORP	$1,383,000	+61.9%	6,775	+0.4%	0.02%	+58.3%
NSTG	Buy	NANOSTRING TECHNOLOGIES INC	$1,393,000	-25.8%	29,025	+0.2%	0.02%	-29.6%
VRSK	Sell	VERISK ANALYTICS INC	$1,270,000	+7.1%	6,343	-6.6%	0.02%	+5.9%
IDXX	Buy	IDEXX LABS INC	$927,000	-0.1%	1,490	+1.4%	0.01%	0.0%
BDSX	Buy	BIODESIX INC	$946,000	-37.7%	115,125	+0.1%	0.01%	-40.9%
FDS	Buy	FACTSET RESH SYS INC	$902,000	+18.7%	2,284	+0.9%	0.01%	+9.1%
ROP	Buy	ROPER TECHNOLOGIES INC	$765,000	-4.6%	1,715	+0.6%	0.01%	-8.3%
VEEV	Buy	VEEVA SYS INC	$788,000	-6.2%	2,735	+1.3%	0.01%	-8.3%
WCN	Buy	WASTE CONNECTIONS INC	$781,000	+6.7%	6,200	+1.1%	0.01%	0.0%
XYL	Buy	XYLEM INC	$633,000	+4.1%	5,115	+1.0%	0.01%	0.0%
BLL	Buy	BALL CORP	$630,000	+38.8%	7,007	+25.1%	0.01%	+28.6%
TRU	Buy	TRANSUNION	$633,000	+3.4%	5,635	+1.1%	0.01%	0.0%
JNJ	Buy	JOHNSON & JOHNSON	$562,000	-0.9%	3,480	+1.2%	0.01%	0.0%
XM	Buy	QUALTRICS INTL INC	$410,000	+56.5%	9,601	+40.4%	0.01%	+50.0%
SJM	Buy	SMUCKER J M CO	$436,000	-6.2%	3,635	+1.4%	0.01%	-14.3%
NKE	Buy	NIKE INCcl b	$464,000	+28.5%	3,195	+36.8%	0.01%	+20.0%
MASI	Buy	MASIMO CORP	$353,000	+14.6%	1,305	+2.8%	0.01%	+25.0%
COUP	Buy	COUPA SOFTWARE INC	$385,000	-14.8%	1,755	+1.7%	0.01%	-28.6%
ITW	Buy	ILLINOIS TOOL WKS INC	$295,000	-5.8%	1,430	+2.1%	0.00%	-20.0%
STE	Buy	STERIS PLC	$296,000	+2.4%	1,450	+3.6%	0.00%	0.0%
VZ	Buy	VERIZON COMMUNICATIONS INC	$201,000	-1.0%	3,722	+2.8%	0.00%	0.0%
PSA	Exit	PUBLIC STORAGE	$0	–	-670	–	-0.00%	–
PFF	Exit	ISHARES TRpfd and incm sec	$0	–	-5,531	–	-0.00%	–
	Exit	LIGHTSPEED POS INC	$0	–	-176,780	–	-0.21%	–
LCY	Exit	LANDCADIA HOLDINGS III INC	$0	–	-2,682,744	–	-0.48%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-440,802	–	-0.84%	–
FIVN	Exit	FIVE9 INC	$0	–	-481,107	–	-1.27%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-2,841,672	–	-1.52%	–

Q2 2021

			Value		Shares		↓ Weighting
FOXF	New	FOX FACTORY HLDG CORP	$231,116,000	–	1,484,750	–	3.34%	–
OMCL	New	OMNICELL COM	$219,152,000	–	1,447,025	–	3.17%	–
CWST	New	CASELLA WASTE SYS INCcl a	$217,210,000	–	3,424,407	–	3.14%	–
FSV	New	FIRSTSERVICE CORP NEW	$211,203,000	–	1,233,230	–	3.05%	–
DSGX	New	DESCARTES SYS GROUP INC	$209,512,000	–	3,029,377	–	3.03%	–
RGEN	New	REPLIGEN CORP	$204,266,000	–	1,023,275	–	2.95%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$202,409,000	–	1,195,844	–	2.92%	–
MRCY	New	MERCURY SYS INC	$185,761,000	–	2,802,668	–	2.68%	–
SPSC	New	SPS COMM INC	$178,267,000	–	1,785,344	–	2.58%	–
EXPO	New	EXPONENT INC	$177,907,000	–	1,994,252	–	2.57%	–
NEOG	New	NEOGEN CORP	$172,254,000	–	3,741,391	–	2.49%	–
AXON	New	AXON ENTERPRISE INC	$171,354,000	–	969,197	–	2.48%	–
TREX	New	TREX CO INC	$168,736,000	–	1,650,877	–	2.44%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$165,144,000	–	5,259,378	–	2.38%	–
ALTR	New	ALTAIR ENGR INC	$158,623,000	–	2,299,879	–	2.29%	–
ROLL	New	RBC BEARINGS INC	$156,581,000	–	785,181	–	2.26%	–
BL	New	BLACKLINE INC	$152,692,000	–	1,372,262	–	2.21%	–
MMSI	New	MERIT MED SYS INC	$152,240,000	–	2,354,467	–	2.20%	–
NOVT	New	NOVANTA INC	$150,716,000	–	1,118,401	–	2.18%	–
SSD	New	SIMPSON MFG INC	$150,548,000	–	1,363,168	–	2.18%	–
MODN	New	MODEL N INC	$142,038,000	–	4,144,662	–	2.05%	–
MLAB	New	MESA LABS INC	$137,942,000	–	508,693	–	1.99%	–
PCTY	New	PAYLOCITY HLDG CORP	$130,325,000	–	683,045	–	1.88%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$127,036,000	–	890,728	–	1.84%	–
BCPC	New	BALCHEM CORP	$124,151,000	–	945,841	–	1.79%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$116,075,000	–	2,912,793	–	1.68%	–
PLOW	New	DOUGLAS DYNAMICS INC	$114,872,000	–	2,823,091	–	1.66%	–
LMAT	New	LEMAITRE VASCULAR INC	$111,411,000	–	1,825,803	–	1.61%	–
PRO	New	PROS HOLDINGS INC	$108,985,000	–	2,391,605	–	1.57%	–
AAON	New	AAON INC	$108,960,000	–	1,740,851	–	1.57%	–
HLIO	New	HELIOS TECHNOLOGIES INC	$107,382,000	–	1,375,815	–	1.55%	–
ACIW	New	ACI WORLDWIDE INC	$105,540,000	–	2,841,672	–	1.52%	–
DORM	New	DORMAN PRODS INC	$92,211,000	–	889,464	–	1.33%	–
SLP	New	SIMULATIONS PLUS INC	$90,085,000	–	1,640,595	–	1.30%	–
ESE	New	ESCO TECHNOLOGIES INC	$89,172,000	–	950,557	–	1.29%	–
FIVN	New	FIVE9 INC	$88,230,000	–	481,107	–	1.27%	–
LOPE	New	GRAND CANYON ED INC	$87,099,000	–	968,089	–	1.26%	–
ROG	New	ROGERS CORP	$85,535,000	–	425,973	–	1.24%	–
WK	New	WORKIVA INC	$80,989,000	–	727,470	–	1.17%	–
OFLX	New	OMEGA FLEX INC	$79,738,000	–	543,510	–	1.15%	–
QTWO	New	Q2 HLDGS INC	$76,847,000	–	749,146	–	1.11%	–
BRKS	New	BROOKS AUTOMATION INC NEW	$75,585,000	–	793,290	–	1.09%	–
WDFC	New	WD 40 CO	$74,719,000	–	291,540	–	1.08%	–
VERX	New	VERTEX INCcl a	$69,378,000	–	3,162,150	–	1.00%	–
VCEL	New	VERICEL CORP	$68,877,000	–	1,311,942	–	1.00%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$57,829,000	–	440,802	–	0.84%	–
POOL	New	POOL CORP	$40,132,000	–	87,499	–	0.58%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$36,276,000	–	101,019	–	0.52%	–
TECH	New	BIO-TECHNE CORP	$33,474,000	–	74,343	–	0.48%	–
LCY	New	LANDCADIA HOLDINGS III INC	$33,266,000	–	2,682,744	–	0.48%	–
CDNA	New	CAREDX INC	$31,866,000	–	348,187	–	0.46%	–
NRC	New	NATIONAL RESH CORP	$31,707,000	–	690,793	–	0.46%	–
EVI	New	EVI INDS INC	$30,720,000	–	1,081,702	–	0.44%	–
ROL	New	ROLLINS INC	$27,730,000	–	810,807	–	0.40%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$27,494,000	–	186,894	–	0.40%	–
GNRC	New	GENERAC HLDGS INC	$25,529,000	–	61,494	–	0.37%	–
TYL	New	TYLER TECHNOLOGIES INC	$25,329,000	–	55,992	–	0.37%	–
JKHY	New	HENRY JACK & ASSOC INC	$24,206,000	–	148,037	–	0.35%	–
GGG	New	GRACO INC	$23,276,000	–	307,483	–	0.34%	–
MTN	New	VAIL RESORTS INC	$23,279,000	–	73,548	–	0.34%	–
TFX	New	TELEFLEX INCORPORATED	$22,625,000	–	56,311	–	0.33%	–
FICO	New	FAIR ISAAC CORP	$22,336,000	–	44,434	–	0.32%	–
HEIA	New	HEICO CORP NEWcl a	$21,576,000	–	173,745	–	0.31%	–
WSO	New	WATSCO INC	$21,140,000	–	73,750	–	0.30%	–
CGNX	New	COGNEX CORP	$20,644,000	–	245,617	–	0.30%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$20,204,000	–	179,242	–	0.29%	–
ATR	New	APTARGROUP INC	$19,012,000	–	134,993	–	0.28%	–
IAA	New	IAA INC	$18,113,000	–	332,114	–	0.26%	–
HCAT	New	HEALTH CATALYST INC	$17,673,000	–	318,379	–	0.26%	–
IT	New	GARTNER INC	$17,304,000	–	71,445	–	0.25%	–
AVLR	New	AVALARA INC	$16,521,000	–	102,109	–	0.24%	–
	New	LIGHTSPEED POS INC	$14,781,000	–	176,780	–	0.21%	–
LCII	New	LCI INDS	$12,859,000	–	97,844	–	0.19%	–
ANSS	New	ANSYS INC	$7,299,000	–	21,031	–	0.10%	–
CPRT	New	COPART INC	$6,720,000	–	50,972	–	0.10%	–
CDXS	New	CODEXIS INC	$2,495,000	–	110,085	–	0.04%	–
TRNS	New	TRANSCAT INC	$2,491,000	–	44,075	–	0.04%	–
KIDS	New	ORTHOPEDIATRICS CORP	$2,337,000	–	36,995	–	0.03%	–
SSTI	New	SHOTSPOTTER INC	$2,319,000	–	47,545	–	0.03%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$2,248,000	–	50,510	–	0.03%	–
CYRX	New	CRYOPORT INC	$2,156,000	–	34,175	–	0.03%	–
DGII	New	DIGI INTL INC	$1,979,000	–	98,425	–	0.03%	–
NVEE	New	NV5 GLOBAL INC	$1,952,000	–	20,657	–	0.03%	–
PLMR	New	PALOMAR HLDGS INC	$1,866,000	–	24,725	–	0.03%	–
NSTG	New	NANOSTRING TECHNOLOGIES INC	$1,877,000	–	28,975	–	0.03%	–
IIIV	New	I3 VERTICALS INC	$1,779,000	–	58,875	–	0.03%	–
WLDN	New	WILLDAN GROUP INC	$1,645,000	–	43,705	–	0.02%	–
IIN	New	INTRICON CORP	$1,628,000	–	72,400	–	0.02%	–
USPH	New	U S PHYSICAL THERAPY	$1,573,000	–	13,575	–	0.02%	–
LSF	New	LAIRD SUPERFOOD INC	$1,620,000	–	54,250	–	0.02%	–
BDSX	New	BIODESIX INC	$1,519,000	–	115,025	–	0.02%	–
FAST	New	FASTENAL CO	$1,463,000	–	28,127	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$1,298,000	–	6,975	–	0.02%	–
CSGP	New	COSTAR GROUP INC	$1,345,000	–	16,245	–	0.02%	–
ALGN	New	ALIGN TECHNOLOGY INC	$1,296,000	–	2,122	–	0.02%	–
VRSK	New	VERISK ANALYTICS INC	$1,186,000	–	6,788	–	0.02%	–
FTNT	New	FORTINET INC	$1,166,000	–	4,896	–	0.02%	–
AAPL	New	APPLE INC	$1,123,000	–	8,200	–	0.02%	–
INFO	New	IHS MARKIT LTD	$1,115,000	–	9,895	–	0.02%	–
MSFT	New	MICROSOFT CORP	$1,039,000	–	3,834	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$946,000	–	2,390	–	0.01%	–
IDXX	New	IDEXX LABS INC	$928,000	–	1,470	–	0.01%	–
VEEV	New	VEEVA SYS INC	$840,000	–	2,700	–	0.01%	–
ROP	New	ROPER TECHNOLOGIES INC	$802,000	–	1,705	–	0.01%	–
SITM	New	SITIME CORP	$854,000	–	6,750	–	0.01%	–
FDS	New	FACTSET RESH SYS INC	$760,000	–	2,264	–	0.01%	–
WCN	New	WASTE CONNECTIONS INC	$732,000	–	6,130	–	0.01%	–
LIN	New	LINDE PLC	$770,000	–	2,665	–	0.01%	–
INTU	New	INTUIT	$779,000	–	1,590	–	0.01%	–
GRMN	New	GARMIN LTD	$661,000	–	4,570	–	0.01%	–
MKL	New	MARKEL CORP	$673,000	–	567	–	0.01%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$635,000	–	1,085	–	0.01%	–
XYL	New	XYLEM INC	$608,000	–	5,065	–	0.01%	–
TRU	New	TRANSUNION	$612,000	–	5,575	–	0.01%	–
JNJ	New	JOHNSON & JOHNSON	$567,000	–	3,440	–	0.01%	–
XOM	New	EXXON MOBIL CORP	$477,000	–	7,554	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$476,000	–	195	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$489,000	–	195	–	0.01%	–
BLL	New	BALL CORP	$454,000	–	5,602	–	0.01%	–
SJM	New	SMUCKER J M CO	$465,000	–	3,585	–	0.01%	–
DLB	New	DOLBY LABORATORIES INC	$503,000	–	5,119	–	0.01%	–
COUP	New	COUPA SOFTWARE INC	$452,000	–	1,725	–	0.01%	–
MA	New	MASTERCARD INCORPORATEDcl a	$413,000	–	1,130	–	0.01%	–
HD	New	HOME DEPOT INC	$383,000	–	1,200	–	0.01%	–
NKE	New	NIKE INCcl b	$361,000	–	2,335	–	0.01%	–
ITW	New	ILLINOIS TOOL WKS INC	$313,000	–	1,400	–	0.01%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$341,000	–	5,000	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$321,000	–	2,066	–	0.01%	–
AMGN	New	AMGEN INC	$324,000	–	1,330	–	0.01%	–
MMM	New	3M CO	$362,000	–	1,820	–	0.01%	–
DHR	New	DANAHER CORPORATION	$368,000	–	1,370	–	0.01%	–
ECL	New	ECOLAB INC	$254,000	–	1,235	–	0.00%	–
MASI	New	MASIMO CORP	$308,000	–	1,270	–	0.00%	–
WTRG	New	ESSENTIAL UTILS INC	$278,000	–	6,087	–	0.00%	–
XM	New	QUALTRICS INTL INC	$262,000	–	6,840	–	0.00%	–
STE	New	STERIS PLC	$289,000	–	1,400	–	0.00%	–
BRKB	New	BERKSHIRE HATHAWAY INC DELcl b new	$306,000	–	1,100	–	0.00%	–
VZ	New	VERIZON COMMUNICATIONS INC	$203,000	–	3,622	–	0.00%	–
INTC	New	INTEL CORP	$233,000	–	4,150	–	0.00%	–
WPC	New	WP CAREY INC	$213,000	–	2,850	–	0.00%	–
PSA	New	PUBLIC STORAGE	$201,000	–	670	–	0.00%	–
PEP	New	PEPSICO INC	$215,000	–	1,450	–	0.00%	–
PFF	New	ISHARES TRpfd and incm sec	$218,000	–	5,531	–	0.00%	–
PGX	New	INVESCO EXCH TRADED FD TR IIpfd etf	$174,000	–	11,350	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
CVX	Exit	CHEVRON CORP NEW	$0	–	-2,974	–	-0.00%	–
PEP	Exit	PEPSICO INC	$0	–	-1,450	–	-0.00%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,235	–	-0.01%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-5,000	–	-0.01%	–
WTRG	Exit	ESSENTIAL UTILS INC	$0	–	-6,087	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,741	–	-0.01%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-1,170	–	-0.01%	–
ECL	Exit	ECOLAB INC	$0	–	-1,315	–	-0.01%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-3,873	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-6,050	–	-0.01%	–
TRMB	Exit	TRIMBLE INC	$0	–	-6,241	–	-0.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-205	–	-0.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-205	–	-0.01%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,875	–	-0.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,200	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.01%	–
TRU	Exit	TRANSUNION	$0	–	-3,990	–	-0.01%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-1,695	–	-0.01%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,215	–	-0.01%	–
XYL	Exit	XYLEM INC	$0	–	-4,980	–	-0.01%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-6,368	–	-0.01%	–
GRMN	Exit	GARMIN LTD	$0	–	-4,570	–	-0.01%	–
WCN	Exit	WASTE CONNECTIONS INC	$0	–	-4,585	–	-0.01%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-2,775	–	-0.01%	–
SJM	Exit	SMUCKER J M CO	$0	–	-4,105	–	-0.01%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-1,135	–	-0.01%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-3,940	–	-0.01%	–
MRK	Exit	MERCK & CO. INC	$0	–	-6,650	–	-0.01%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-1,375	–	-0.01%	–
INTU	Exit	INTUIT	$0	–	-1,805	–	-0.01%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,996	–	-0.01%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-18,654	–	-0.01%	–
PFE	Exit	PFIZER INC	$0	–	-17,508	–	-0.01%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-1,665	–	-0.01%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.01%	–
LIN	Exit	LINDE PLC	$0	–	-2,785	–	-0.01%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,091	–	-0.01%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-2,450	–	-0.01%	–
ABBV	Exit	ABBVIE INC	$0	–	-7,935	–	-0.01%	–
MMM	Exit	3M CO	$0	–	-4,180	–	-0.01%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-2,202	–	-0.02%	–
FTNT	Exit	FORTINET INC	$0	–	-6,113	–	-0.02%	–
MKL	Exit	MARKEL CORP	$0	–	-849	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-2,350	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-6,705	–	-0.02%	–
ABT	Exit	ABBOTT LABS	$0	–	-8,990	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,599	–	-0.02%	–
USPH	Exit	U S PHYSICAL THERAPY INC	$0	–	-11,155	–	-0.02%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,332	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-9,380	–	-0.02%	–
IIN	Exit	INTRICON CORP	$0	–	-87,725	–	-0.02%	–
TWST	Exit	TWIST BIOSCIENCE CORP	$0	–	-14,275	–	-0.02%	–
PLMR	Exit	PALOMAR HLDGS INC	$0	–	-10,950	–	-0.02%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-6,542	–	-0.02%	–
FAST	Exit	FASTENAL CO	$0	–	-27,727	–	-0.02%	–
WLDN	Exit	WILLDAN GROUP INC	$0	–	-48,430	–	-0.02%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-24,505	–	-0.03%	–
NSTG	Exit	NANOSTRING TECHNOLOGIES INC	$0	–	-29,345	–	-0.03%	–
CDXS	Exit	CODEXIS INC	$0	–	-114,710	–	-0.03%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-1,605	–	-0.03%	–
KIDS	Exit	ORTHOPEDIATRICS CORP	$0	–	-28,895	–	-0.03%	–
TRNS	Exit	TRANSCAT INC	$0	–	-46,750	–	-0.03%	–
DGII	Exit	DIGI INTL INC	$0	–	-89,550	–	-0.03%	–
CYRX	Exit	CRYOPORT INC	$0	–	-32,500	–	-0.03%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-49,255	–	-0.03%	–
CLCT	Exit	COLLECTORS UNIVERSE INC	$0	–	-30,650	–	-0.03%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-55,535	–	-0.03%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-20,396	–	-0.03%	–
CDNA	Exit	CAREDX INC	$0	–	-48,155	–	-0.04%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-24,505	–	-0.04%	–
VCEL	Exit	VERICEL CORP	$0	–	-106,500	–	-0.04%	–
LSF	Exit	LAIRD SUPERFOOD INC	$0	–	-50,000	–	-0.05%	–
IT	Exit	GARTNER INC	$0	–	-60,102	–	-0.15%	–
PS	Exit	PLURALSIGHT INC	$0	–	-492,075	–	-0.17%	–
CPRT	Exit	COPART INC	$0	–	-82,279	–	-0.18%	–
LCII	Exit	LCI INDS	$0	–	-82,974	–	-0.18%	–
ATR	Exit	APTARGROUP INC	$0	–	-79,857	–	-0.18%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-277,644	–	-0.20%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-52,449	–	-0.20%	–
CGNX	Exit	COGNEX CORP	$0	–	-204,280	–	-0.27%	–
MTN	Exit	VAIL RESORTS INC	$0	–	-66,989	–	-0.29%	–
TFX	Exit	TELEFLEX INCORPORATED	$0	–	-42,362	–	-0.29%	–
WSO	Exit	WATSCO INC	$0	–	-62,531	–	-0.29%	–
IAA	Exit	IAA INC	$0	–	-282,464	–	-0.30%	–
ANSS	Exit	ANSYS INC	$0	–	-47,996	–	-0.32%	–
GGG	Exit	GRACO INC	$0	–	-259,259	–	-0.32%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-152,830	–	-0.32%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-97,975	–	-0.32%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-37,537	–	-0.32%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-47,474	–	-0.33%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-188,894	–	-0.34%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-134,322	–	-0.41%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-90,227	–	-0.50%	–
POOL	Exit	POOL CORP	$0	–	-79,328	–	-0.54%	–
EVI	Exit	EVI INDS INC	$0	–	-1,035,503	–	-0.56%	–
ROL	Exit	ROLLINS INC	$0	–	-517,245	–	-0.56%	–
NRC	Exit	NATIONAL RESH CORP	$0	–	-674,794	–	-0.67%	–
CMD	Exit	CANTEL MED CORP	$0	–	-789,154	–	-0.70%	–
PRLB	Exit	PROTO LABS INC	$0	–	-280,406	–	-0.73%	–
ROG	Exit	ROGERS CORP	$0	–	-424,850	–	-0.84%	–
HLIO	Exit	HELIOS TECHNOLOGIES INC	$0	–	-1,373,597	–	-1.01%	–
WDFC	Exit	WD-40 CO	$0	–	-282,607	–	-1.08%	–
QTWO	Exit	Q2 HLDGS INC	$0	–	-606,570	–	-1.12%	–
FIVN	Exit	FIVE9 INC	$0	–	-437,715	–	-1.14%	–
LMAT	Exit	LEMAITRE VASCULAR INC	$0	–	-1,884,039	–	-1.24%	–
MODN	Exit	MODEL N INC	$0	–	-1,827,360	–	-1.30%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-709,398	–	-1.36%	–
OFLX	Exit	OMEGA FLEX INC	$0	–	-435,106	–	-1.38%	–
RP	Exit	REALPAGE INC	$0	–	-1,306,022	–	-1.52%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-945,796	–	-1.52%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-2,388,268	–	-1.54%	–
ESE	Exit	ESCO TECHNOLOGIES INC	$0	–	-951,799	–	-1.55%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-2,996,908	–	-1.58%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-885,353	–	-1.61%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-871,748	–	-1.62%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,931,263	–	-1.64%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-2,848,709	–	-1.67%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-4,889,959	–	-1.80%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-2,046,245	–	-1.80%	–
BCPC	Exit	BALCHEM CORP	$0	–	-931,676	–	-1.84%	–
ROLL	Exit	RBC BEARINGS INC	$0	–	-756,719	–	-1.85%	–
PLOW	Exit	DOUGLAS DYNAMICS INC	$0	–	-2,717,341	–	-1.88%	–
ALTR	Exit	ALTAIR ENGR INC	$0	–	-2,258,125	–	-1.91%	–
TECH	Exit	BIO-TECHNE CORP	$0	–	-385,051	–	-1.92%	–
AAON	Exit	AAON INC	$0	–	-1,744,552	–	-2.12%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-1,199,720	–	-2.20%	–
NOVT	Exit	NOVANTA INC	$0	–	-1,039,619	–	-2.21%	–
PCTY	Exit	PAYLOCITY HLDG CORP	$0	–	-695,663	–	-2.26%	–
OMCL	Exit	OMNICELL COM	$0	–	-1,597,242	–	-2.40%	–
BL	Exit	BLACKLINE INC	$0	–	-1,368,627	–	-2.47%	–
MLAB	Exit	MESA LABS INC	$0	–	-499,349	–	-2.57%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-1,742,896	–	-2.61%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-1,347,745	–	-2.64%	–
CWST	Exit	CASELLA WASTE SYS INCcl a	$0	–	-2,422,589	–	-2.73%	–
EXPO	Exit	EXPONENT INC	$0	–	-1,900,430	–	-2.76%	–
TREX	Exit	TREX CO INC	$0	–	-1,911,307	–	-2.76%	–
SPSC	Exit	SPS COMMERCE INC	$0	–	-1,764,623	–	-2.77%	–
NEOG	Exit	NEOGEN CORP	$0	–	-1,830,422	–	-2.89%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-1,197,019	–	-2.94%	–
MRCY	Exit	MERCURY SYS INC	$0	–	-1,926,665	–	-3.01%	–
FSV	Exit	FIRSTSERVICE CORP NEW	$0	–	-1,210,455	–	-3.22%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-2,968,484	–	-3.41%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-1,165,616	–	-3.47%	–

Q3 2020

			Value		Shares		↓ Weighting
RGEN	Buy	REPLIGEN CORP	$171,975,000	+25.5%	1,165,616	+5.1%	3.47%	+16.2%
DSGX	Buy	DESCARTES SYS GROUP INC	$169,144,000	+12.5%	2,968,484	+4.4%	3.41%	+4.2%
FSV	Buy	FIRSTSERVICE CORP NEW	$159,647,000	+41.4%	1,210,455	+8.0%	3.22%	+31.0%
MRCY	Buy	MERCURY SYS INC	$149,239,000	+16.8%	1,926,665	+18.6%	3.01%	+8.2%
SITE	Buy	SITEONE LANDSCAPE SUPPLY INC	$145,976,000	+13.6%	1,197,019	+6.1%	2.94%	+5.3%
NEOG	Buy	NEOGEN CORP	$143,231,000	+6.2%	1,830,422	+5.3%	2.89%	-1.6%
SPSC	Buy	SPS COMMERCE INC	$137,411,000	+8.1%	1,764,623	+4.2%	2.77%	+0.1%
EXPO	Buy	EXPONENT INC	$136,888,000	-6.4%	1,900,430	+5.2%	2.76%	-13.3%
TREX	Buy	TREX CO INC	$136,850,000	-4.0%	1,911,307	+74.4%	2.76%	-11.1%
CWST	Buy	CASELLA WASTE SYS INCcl a	$135,302,000	+26.8%	2,422,589	+18.4%	2.73%	+17.5%
SSD	Sell	SIMPSON MANUFACTURING CO INC	$130,947,000	+9.8%	1,347,745	-4.6%	2.64%	+1.7%
FOXF	Buy	FOX FACTORY HLDG CORP	$129,549,000	-5.8%	1,742,896	+4.7%	2.61%	-12.7%
MLAB	Buy	MESA LABS INC	$127,214,000	+22.7%	499,349	+4.4%	2.57%	+13.6%
BL	Buy	BLACKLINE INC	$122,670,000	+11.8%	1,368,627	+3.4%	2.47%	+3.6%
OMCL	Buy	OMNICELL COM	$119,250,000	+12.3%	1,597,242	+6.2%	2.40%	+4.0%
PCTY	Sell	PAYLOCITY HLDG CORP	$112,294,000	-6.9%	695,663	-15.8%	2.26%	-13.7%
NOVT	Buy	NOVANTA INC	$109,513,000	+2.3%	1,039,619	+3.7%	2.21%	-5.2%
AXON	Buy	AXON ENTERPRISE INC	$108,815,000	-3.1%	1,199,720	+4.8%	2.20%	-10.3%
AAON	Buy	AAON INC	$105,109,000	+15.0%	1,744,552	+3.6%	2.12%	+6.5%
TECH	Buy	BIO-TECHNE CORP	$95,389,000	-0.5%	385,051	+6.0%	1.92%	-7.9%
ALTR	Buy	ALTAIR ENGR INC	$94,796,000	+12.1%	2,258,125	+6.2%	1.91%	+3.9%
PLOW	Buy	DOUGLAS DYNAMICS INC	$92,933,000	+2.0%	2,717,341	+4.8%	1.88%	-5.4%
ROLL	Buy	RBC BEARINGS INC	$91,722,000	+7.6%	756,719	+19.0%	1.85%	-0.3%
BCPC	Buy	BALCHEM CORP	$90,960,000	+7.9%	931,676	+4.8%	1.84%	0.0%
MMSI	Buy	MERIT MED SYS INC	$89,012,000	-0.8%	2,046,245	+4.1%	1.80%	-8.0%
ROAD	Buy	CONSTRUCTION PARTNERS INC	$88,997,000	+8.1%	4,889,959	+5.5%	1.80%	+0.1%
VCRA	Sell	VOCERA COMMUNICATIONS INC	$82,840,000	+24.0%	2,848,709	-9.6%	1.67%	+14.8%
EPAY	Buy	BOTTOMLINE TECH DEL INC	$81,422,000	-12.5%	1,931,263	+5.4%	1.64%	-19.0%
JBT	Buy	JOHN BEAN TECHNOLOGIES CORP	$80,105,000	+12.0%	871,748	+4.8%	1.62%	+3.8%
DORM	Buy	DORMAN PRODUCTS INC	$80,018,000	+40.5%	885,353	+4.2%	1.61%	+30.2%
ACIW	Buy	ACI WORLDWIDE INC	$78,309,000	+1.1%	2,996,908	+4.5%	1.58%	-6.3%
ESE	Buy	ESCO TECHNOLOGIES INC	$76,677,000	-1.0%	951,799	+3.9%	1.55%	-8.2%
PRO	Buy	PROS HOLDINGS INC	$76,281,000	-12.5%	2,388,268	+21.8%	1.54%	-18.9%
LOPE	Buy	GRAND CANYON ED INC	$75,607,000	-6.8%	945,796	+5.5%	1.52%	-13.7%
RP	Buy	REALPAGE INC	$75,279,000	+62.9%	1,306,022	+83.8%	1.52%	+51.0%
OFLX	Buy	OMEGA FLEX INC	$68,190,000	+54.2%	435,106	+4.1%	1.38%	+42.9%
LGND	Buy	LIGAND PHARMACEUTICALS INC	$67,620,000	-10.1%	709,398	+5.4%	1.36%	-16.7%
MODN	Buy	MODEL N INC	$64,469,000	+41.7%	1,827,360	+39.6%	1.30%	+31.2%
LMAT	Buy	LEMAITRE VASCULAR INC	$61,288,000	+28.8%	1,884,039	+4.5%	1.24%	+19.3%
FIVN	Sell	FIVE9 INC	$56,763,000	-1.1%	437,715	-15.6%	1.14%	-8.4%
QTWO	Buy	Q2 HLDGS INC	$55,356,000	+128.8%	606,570	+115.1%	1.12%	+112.0%
WDFC	Buy	WD-40 CO	$53,500,000	-0.7%	282,607	+4.0%	1.08%	-8.0%
HLIO	Buy	HELIOS TECHNOLOGIES INC	$49,999,000	+1.5%	1,373,597	+3.9%	1.01%	-5.9%
ROG	Buy	ROGERS CORP	$41,661,000	-18.3%	424,850	+3.8%	0.84%	-24.3%
PRLB	Sell	PROTO LABS INC	$36,313,000	-27.8%	280,406	-37.3%	0.73%	-33.1%
CMD	Buy	CANTEL MED CORP	$34,675,000	+2.8%	789,154	+3.5%	0.70%	-4.8%
NRC	Buy	NATIONAL RESH CORP	$33,207,000	-11.7%	674,794	+4.4%	0.67%	-18.2%
ROL	Buy	ROLLINS INC	$28,030,000	+47.1%	517,245	+15.1%	0.56%	+36.1%
EVI	Buy	EVI INDS INC	$27,555,000	+31.2%	1,035,503	+7.1%	0.56%	+21.7%
POOL	Buy	POOL CORP	$26,538,000	+38.6%	79,328	+12.7%	0.54%	+28.3%
WST	Buy	WEST PHARMACEUTICAL SVSC INC	$24,803,000	+39.6%	90,227	+15.4%	0.50%	+29.2%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$20,422,000	+51.2%	134,322	+16.6%	0.41%	+40.1%
HEIA	Buy	HEICO CORP NEWcl a	$16,747,000	+26.4%	188,894	+15.8%	0.34%	+17.0%
TYL	Buy	TYLER TECHNOLOGIES INC	$16,548,000	+12.4%	47,474	+11.9%	0.33%	+4.0%
FICO	Buy	FAIR ISAAC CORP	$15,967,000	+15.2%	37,537	+13.2%	0.32%	+6.6%
GWRE	Buy	GUIDEWIRE SOFTWARE INC	$15,936,000	+5.9%	152,830	+12.6%	0.32%	-2.1%
GGG	Buy	GRACO INC	$15,906,000	+48.2%	259,259	+16.0%	0.32%	+37.2%
JKHY	Buy	HENRY JACK & ASSOC INC	$15,930,000	+2.5%	97,975	+16.1%	0.32%	-5.0%
ANSS	Buy	ANSYS INC	$15,706,000	+25.4%	47,996	+11.8%	0.32%	+16.1%
IAA	Buy	IAA INC	$14,708,000	+108.5%	282,464	+54.4%	0.30%	+92.9%
WSO	Buy	WATSCO INC	$14,563,000	+47.2%	62,531	+12.3%	0.29%	+36.7%
TFX	Buy	TELEFLEX INCORPORATED	$14,421,000	+9.4%	42,362	+17.0%	0.29%	+1.4%
MTN	Buy	VAIL RESORTS INC	$14,334,000	+35.4%	66,989	+15.3%	0.29%	+25.1%
CGNX	Buy	COGNEX CORP	$13,299,000	+25.0%	204,280	+14.6%	0.27%	+15.5%
HCAT	Buy	HEALTH CATALYST INC	$10,162,000	+40.1%	277,644	+11.7%	0.20%	+29.7%
GNRC	Buy	GENERAC HLDGS INC	$10,156,000	+80.3%	52,449	+13.5%	0.20%	+66.7%
ATR	Buy	APTARGROUP INC	$9,040,000	+54.6%	79,857	+52.9%	0.18%	+43.3%
LCII	Buy	LCI INDS	$8,819,000	+4.5%	82,974	+13.0%	0.18%	-3.3%
CPRT	Sell	COPART INC	$8,652,000	-5.4%	82,279	-25.1%	0.18%	-12.1%
PS	Buy	PLURALSIGHT INC	$8,429,000	+10.1%	492,075	+16.0%	0.17%	+1.8%
IT	Buy	GARTNER INC	$7,510,000	+16.2%	60,102	+12.9%	0.15%	+7.1%
LSF	New	LAIRD SUPERFOOD INC	$2,293,000	–	50,000	–	0.05%	–
VCEL	Buy	VERICEL CORP	$1,973,000	+41.5%	106,500	+5.6%	0.04%	+33.3%
CDNA	Buy	CAREDX INC	$1,827,000	+13.3%	48,155	+5.8%	0.04%	+5.7%
SLP	Buy	SIMULATIONS PLUS INC	$1,847,000	+32.3%	24,505	+5.0%	0.04%	+23.3%
BLFS	Buy	BIOLIFE SOLUTIONS INC	$1,607,000	+85.6%	55,535	+4.8%	0.03%	+68.4%
CYRX	Sell	CRYOPORT INC	$1,540,000	+9.2%	32,500	-30.3%	0.03%	0.0%
CLCT	Buy	COLLECTORS UNIVERSE INC	$1,517,000	+53.4%	30,650	+6.2%	0.03%	+40.9%
SSTI	Buy	SHOTSPOTTER INC	$1,529,000	+29.4%	49,255	+5.0%	0.03%	+19.2%
DGII	Buy	DIGI INTL INC	$1,400,000	+71.1%	89,550	+27.6%	0.03%	+55.6%
TRNS	Buy	TRANSCAT INC	$1,370,000	+42.0%	46,750	+25.3%	0.03%	+33.3%
KIDS	Buy	ORTHOPEDIATRICS CORP	$1,327,000	+9.8%	28,895	+4.6%	0.03%	+3.8%
CDXS	Buy	CODEXIS INC	$1,347,000	+8.5%	114,710	+5.3%	0.03%	0.0%
NSTG	Buy	NANOSTRING TECHNOLOGIES INC	$1,312,000	+60.8%	29,345	+5.6%	0.03%	+44.4%
NVEE	Buy	NV5 GLOBAL INC	$1,293,000	+7.4%	24,505	+3.5%	0.03%	0.0%
WLDN	Buy	WILLDAN GROUP INC	$1,235,000	+5.1%	48,430	+3.1%	0.02%	-3.8%
PLMR	Sell	PALOMAR HLDGS INC	$1,141,000	-15.0%	10,950	-30.0%	0.02%	-20.7%
IIN	Buy	INTRICON CORP	$1,068,000	+39.6%	87,725	+55.1%	0.02%	+29.4%
AAPL	Buy	APPLE INC	$1,086,000	+20.0%	9,380	+278.2%	0.02%	+10.0%
TWST	Sell	TWIST BIOSCIENCE CORP	$1,084,000	-32.5%	14,275	-59.7%	0.02%	-37.1%
MSFT	Sell	MICROSOFT CORP	$967,000	+2.2%	4,599	-1.1%	0.02%	-4.8%
USPH	Buy	U S PHYSICAL THERAPY INC	$969,000	+12.8%	11,155	+5.2%	0.02%	+5.3%
MMM	Sell	3M CO	$670,000	-1.9%	4,180	-4.6%	0.01%	-6.7%
PFE	Buy	PFIZER INC	$643,000	+15.0%	17,508	+2.3%	0.01%	+8.3%
ROP	Buy	ROPER TECHNOLOGIES INC	$658,000	+22.3%	1,665	+20.2%	0.01%	+8.3%
ADBE	Sell	ADOBE SYSTEMS INCORPORATED	$557,000	+2.4%	1,135	-9.2%	0.01%	-8.3%
WCN	Buy	WASTE CONNECTIONS INC	$476,000	+42.9%	4,585	+29.2%	0.01%	+42.9%
XYL	Sell	XYLEM INC	$419,000	+9.7%	4,980	-15.3%	0.01%	0.0%
TRU	Buy	TRANSUNION	$336,000	+40.6%	3,990	+45.1%	0.01%	+40.0%
TRMB	Sell	TRIMBLE INC	$304,000	-46.0%	6,241	-52.1%	0.01%	-50.0%
INTC	Sell	INTEL CORP	$313,000	-24.2%	6,050	-12.3%	0.01%	-33.3%
VZ	Buy	VERIZON COMMUNICATIONS INC	$230,000	+10.6%	3,873	+2.7%	0.01%	0.0%
PYPL	Sell	PAYPAL HLDGS INC	$231,000	+12.1%	1,170	-0.8%	0.01%	+25.0%
PEP	New	PEPSICO INC	$201,000	–	1,450	–	0.00%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-4,793	–	-0.01%	–
WPC	Exit	WP CAREY INC	$0	–	-4,550	–	-0.01%	–
NARI	Exit	INARI MED INC	$0	–	-16,150	–	-0.02%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-713,877	–	-0.89%	–
AIN	Exit	ALBANY INTL CORPcl a	$0	–	-856,750	–	-1.10%	–

Q2 2020

			Value		Shares		↓ Weighting
DSGX	New	DESCARTES SYS GROUP INC	$150,343,000	–	2,842,015	–	3.27%	–
EXPO	New	EXPONENT INC	$146,259,000	–	1,807,230	–	3.18%	–
TREX	New	TREX CO INC	$142,581,000	–	1,096,185	–	3.10%	–
FOXF	New	FOX FACTORY HLDG CORP	$137,454,000	–	1,663,891	–	2.99%	–
RGEN	New	REPLIGEN CORP	$137,070,000	–	1,108,894	–	2.98%	–
NEOG	New	NEOGEN CORP	$134,864,000	–	1,737,934	–	2.94%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$128,525,000	–	1,127,713	–	2.80%	–
MRCY	New	MERCURY SYS INC	$127,801,000	–	1,624,728	–	2.78%	–
SPSC	New	SPS COMMERCE INC	$127,172,000	–	1,692,923	–	2.77%	–
PCTY	New	PAYLOCITY HLDG CORP	$120,573,000	–	826,468	–	2.62%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$119,209,000	–	1,413,100	–	2.60%	–
FSV	New	FIRSTSERVICE CORP NEW	$112,885,000	–	1,120,444	–	2.46%	–
AXON	New	AXON ENTERPRISE INC	$112,339,000	–	1,144,801	–	2.45%	–
BL	New	BLACKLINE INC	$109,729,000	–	1,323,477	–	2.39%	–
NOVT	New	NOVANTA INC	$107,020,000	–	1,002,339	–	2.33%	–
CWST	New	CASELLA WASTE SYS INCcl a	$106,663,000	–	2,046,495	–	2.32%	–
OMCL	New	OMNICELL INC	$106,202,000	–	1,503,855	–	2.31%	–
MLAB	New	MESA LABS INC	$103,717,000	–	478,399	–	2.26%	–
TECH	New	BIO-TECHNE CORP	$95,885,000	–	363,104	–	2.09%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$93,025,000	–	1,832,284	–	2.03%	–
AAON	New	AAON INC	$91,382,000	–	1,683,227	–	1.99%	–
PLOW	New	DOUGLAS DYNAMICS INC	$91,084,000	–	2,593,495	–	1.98%	–
MMSI	New	MERIT MED SYS INC	$89,709,000	–	1,965,137	–	1.95%	–
PRO	New	PROS HOLDINGS INC	$87,150,000	–	1,961,503	–	1.90%	–
ROLL	New	RBC BEARINGS INC	$85,234,000	–	635,886	–	1.86%	–
ALTR	New	ALTAIR ENGR INC	$84,554,000	–	2,127,142	–	1.84%	–
BCPC	New	BALCHEM CORP	$84,297,000	–	888,650	–	1.84%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$82,330,000	–	4,635,722	–	1.79%	–
LOPE	New	GRAND CANYON ED INC	$81,153,000	–	896,421	–	1.77%	–
ACIW	New	ACI WORLDWIDE INC	$77,427,000	–	2,868,721	–	1.69%	–
ESE	New	ESCO TECHNOLOGIES INC	$77,449,000	–	916,234	–	1.69%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$75,249,000	–	672,768	–	1.64%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$71,529,000	–	831,536	–	1.56%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$66,830,000	–	3,152,382	–	1.46%	–
FIVN	New	FIVE9 INC	$57,386,000	–	518,535	–	1.25%	–
DORM	New	DORMAN PRODUCTS INC	$56,971,000	–	849,428	–	1.24%	–
WDFC	New	WD-40 CO	$53,879,000	–	271,704	–	1.17%	–
ROG	New	ROGERS CORP	$50,988,000	–	409,210	–	1.11%	–
AIN	New	ALBANY INTL CORPcl a	$50,300,000	–	856,750	–	1.10%	–
PRLB	New	PROTO LABS INC	$50,262,000	–	446,896	–	1.09%	–
HLIO	New	HELIOS TECHNOLOGIES INC	$49,237,000	–	1,321,801	–	1.07%	–
LMAT	New	LEMAITRE VASCULAR INC	$47,596,000	–	1,802,869	–	1.04%	–
RP	New	REALPAGE INC	$46,203,000	–	710,705	–	1.01%	–
MODN	New	MODEL N INC	$45,498,000	–	1,308,920	–	0.99%	–
OFLX	New	OMEGA FLEX INC	$44,229,000	–	418,046	–	0.96%	–
BLKB	New	BLACKBAUD INC	$40,748,000	–	713,877	–	0.89%	–
NRC	New	NATIONAL RESH CORP	$37,613,000	–	646,164	–	0.82%	–
CMD	New	CANTEL MED CORP	$33,719,000	–	762,359	–	0.73%	–
QTWO	New	Q2 HLDGS INC	$24,196,000	–	282,040	–	0.53%	–
EVI	New	EVI INDUSTRIES INC	$21,000,000	–	967,300	–	0.46%	–
POOL	New	POOL CORPORATION	$19,142,000	–	70,408	–	0.42%	–
ROL	New	ROLLINS INC	$19,056,000	–	449,548	–	0.42%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$17,767,000	–	78,210	–	0.39%	–
JKHY	New	HENRY JACK & ASSOC INC	$15,536,000	–	84,421	–	0.34%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$15,050,000	–	135,772	–	0.33%	–
TYL	New	TYLER TECHNOLOGIES INC	$14,720,000	–	42,434	–	0.32%	–
FICO	New	FAIR ISAAC CORP	$13,860,000	–	33,155	–	0.30%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$13,506,000	–	115,239	–	0.29%	–
HEIA	New	HEICO CORP NEWcl a	$13,250,000	–	163,103	–	0.29%	–
TFX	New	TELEFLEX INCORPORATED	$13,181,000	–	36,214	–	0.29%	–
ANSS	New	ANSYS INC	$12,528,000	–	42,943	–	0.27%	–
GGG	New	GRACO INC	$10,730,000	–	223,595	–	0.23%	–
CGNX	New	COGNEX CORP	$10,642,000	–	178,191	–	0.23%	–
MTN	New	VAIL RESORTS INC	$10,587,000	–	58,122	–	0.23%	–
WSO	New	WATSCO INC	$9,893,000	–	55,674	–	0.22%	–
CPRT	New	COPART INC	$9,149,000	–	109,872	–	0.20%	–
LCII	New	LCI INDS	$8,440,000	–	73,408	–	0.18%	–
PS	New	PLURALSIGHT INC	$7,654,000	–	424,068	–	0.17%	–
HCAT	New	HEALTH CATALYST INC	$7,251,000	–	248,567	–	0.16%	–
IAA	New	IAA INC	$7,054,000	–	182,893	–	0.15%	–
IT	New	GARTNER INC	$6,461,000	–	53,253	–	0.14%	–
ATR	New	APTARGROUP INC	$5,848,000	–	52,220	–	0.13%	–
GNRC	New	GENERAC HLDGS INC	$5,633,000	–	46,195	–	0.12%	–
CDNA	New	CAREDX INC	$1,612,000	–	45,505	–	0.04%	–
TWST	New	TWIST BIOSCIENCE CORP	$1,606,000	–	35,450	–	0.04%	–
INFO	New	IHS MARKIT LTD	$1,540,000	–	20,396	–	0.03%	–
CYRX	New	CRYOPORT INC	$1,410,000	–	46,600	–	0.03%	–
VCEL	New	VERICEL CORP	$1,394,000	–	100,850	–	0.03%	–
SLP	New	SIMULATIONS PLUS INC	$1,396,000	–	23,330	–	0.03%	–
PLMR	New	PALOMAR HLDGS INC	$1,342,000	–	15,650	–	0.03%	–
CDXS	New	CODEXIS INC	$1,242,000	–	108,985	–	0.03%	–
KIDS	New	ORTHOPEDIATRICS CORP	$1,209,000	–	27,620	–	0.03%	–
WLDN	New	WILLDAN GROUP INC	$1,175,000	–	46,980	–	0.03%	–
FAST	New	FASTENAL CO	$1,188,000	–	27,727	–	0.03%	–
SSTI	New	SHOTSPOTTER INC	$1,182,000	–	46,905	–	0.03%	–
NVEE	New	NV5 GLOBAL INC	$1,204,000	–	23,680	–	0.03%	–
CSGP	New	COSTAR GROUP INC	$1,141,000	–	1,605	–	0.02%	–
VRSK	New	VERISK ANALYTICS INC	$1,113,000	–	6,542	–	0.02%	–
CLCT	New	COLLECTORS UNIVERSE INC	$989,000	–	28,850	–	0.02%	–
MSFT	New	MICROSOFT CORP	$946,000	–	4,649	–	0.02%	–
TRNS	New	TRANSCAT INC	$965,000	–	37,300	–	0.02%	–
AAPL	New	APPLE INC	$905,000	–	2,480	–	0.02%	–
UNP	New	UNION PAC CORP	$901,000	–	5,332	–	0.02%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$866,000	–	52,985	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$884,000	–	6,705	–	0.02%	–
USPH	New	U S PHYSICAL THERAPY INC	$859,000	–	10,605	–	0.02%	–
DGII	New	DIGI INTL INC	$818,000	–	70,175	–	0.02%	–
FTNT	New	FORTINET INC	$839,000	–	6,113	–	0.02%	–
XOM	New	EXXON MOBIL CORP	$834,000	–	18,654	–	0.02%	–
NSTG	New	NANOSTRING TECHNOLOGIES INC	$816,000	–	27,795	–	0.02%	–
ABT	New	ABBOTT LABS	$822,000	–	8,990	–	0.02%	–
ABBV	New	ABBVIE INC	$779,000	–	7,935	–	0.02%	–
NARI	New	INARI MED INC	$782,000	–	16,150	–	0.02%	–
MKL	New	MARKEL CORP	$784,000	–	849	–	0.02%	–
IIN	New	INTRICON CORP	$765,000	–	56,550	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$713,000	–	2,350	–	0.02%	–
MMM	New	3M CO	$683,000	–	4,380	–	0.02%	–
FDS	New	FACTSET RESH SYS INC	$687,000	–	2,091	–	0.02%	–
KMB	New	KIMBERLY CLARK CORP	$601,000	–	4,250	–	0.01%	–
ALGN	New	ALIGN TECHNOLOGY INC	$604,000	–	2,202	–	0.01%	–
LIN	New	LINDE PLC	$591,000	–	2,785	–	0.01%	–
JNJ	New	JOHNSON & JOHNSON	$562,000	–	3,996	–	0.01%	–
PFE	New	PFIZER INC	$559,000	–	17,108	–	0.01%	–
VEEV	New	VEEVA SYS INC	$574,000	–	2,450	–	0.01%	–
ADBE	New	ADOBE INC	$544,000	–	1,250	–	0.01%	–
INTU	New	INTUIT	$535,000	–	1,805	–	0.01%	–
ROP	New	ROPER TECHNOLOGIES INC	$538,000	–	1,385	–	0.01%	–
TRMB	New	TRIMBLE INC	$563,000	–	13,029	–	0.01%	–
MRK	New	MERCK & CO. INC	$514,000	–	6,650	–	0.01%	–
PG	New	PROCTER AND GAMBLE CO	$471,000	–	3,940	–	0.01%	–
IDXX	New	IDEXX LABS INC	$454,000	–	1,375	–	0.01%	–
IPGP	New	IPG PHOTONICS CORP	$445,000	–	2,775	–	0.01%	–
GRMN	New	GARMIN LTD	$446,000	–	4,570	–	0.01%	–
INTC	New	INTEL CORP	$413,000	–	6,900	–	0.01%	–
SJM	New	SMUCKER J M CO	$434,000	–	4,105	–	0.01%	–
DLB	New	DOLBY LABORATORIES INC	$419,000	–	6,368	–	0.01%	–
MA	New	MASTERCARD INCORPORATEDcl a	$359,000	–	1,215	–	0.01%	–
XYL	New	XYLEM INC	$382,000	–	5,880	–	0.01%	–
HD	New	HOME DEPOT INC	$301,000	–	1,200	–	0.01%	–
AMGN	New	AMGEN INC	$314,000	–	1,330	–	0.01%	–
DHR	New	DANAHER CORPORATION	$300,000	–	1,695	–	0.01%	–
WCN	New	WASTE CONNECTIONS INC	$333,000	–	3,550	–	0.01%	–
WPC	New	WP CAREY INC	$308,000	–	4,550	–	0.01%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$270,000	–	2,235	–	0.01%	–
NKE	New	NIKE INCcl b	$282,000	–	2,875	–	0.01%	–
CVX	New	CHEVRON CORP NEW	$265,000	–	2,974	–	0.01%	–
ECL	New	ECOLAB INC	$262,000	–	1,315	–	0.01%	–
WTRG	New	ESSENTIAL UTILS INC	$257,000	–	6,087	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$291,000	–	205	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$258,000	–	2,741	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$290,000	–	205	–	0.01%	–
VZ	New	VERIZON COMMUNICATIONS INC	$208,000	–	3,773	–	0.01%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$235,000	–	5,000	–	0.01%	–
HXL	New	HEXCEL CORP NEW	$217,000	–	4,793	–	0.01%	–
TRU	New	TRANSUNION	$239,000	–	2,750	–	0.01%	–
PYPL	New	PAYPAL HLDGS INC	$206,000	–	1,180	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
CEMI	Exit	CHEMBIO DIAGNOSTICS INC	$0	–	-29,000	–	-0.01%	–
TWST	Exit	TWIST BIOSCIENCE CORP	$0	–	-9,925	–	-0.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-205	–	-0.01%	–
VCEL	Exit	VERICEL CORP	$0	–	-16,600	–	-0.01%	–
EVH	Exit	EVOLENT HEALTH INCcl a	$0	–	-30,390	–	-0.01%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-3,773	–	-0.01%	–
BLFS	Exit	BIOLIFE SOLUTIONS INC	$0	–	-14,385	–	-0.01%	–
SSTI	Exit	SHOTSPOTTER INC	$0	–	-11,930	–	-0.01%	–
ECL	Exit	ECOLAB INC	$0	–	-1,350	–	-0.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-210	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.01%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,940	–	-0.01%	–
WTR	Exit	AQUA AMERICA INC	$0	–	-6,087	–	-0.01%	–
DHR	Exit	DANAHER CORPORATION	$0	–	-1,855	–	-0.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,200	–	-0.01%	–
IIN	Exit	INTRICON CORP	$0	–	-15,350	–	-0.01%	–
WAB	Exit	WABTEC CORP	$0	–	-4,178	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,741	–	-0.01%	–
CDXS	Exit	CODEXIS INC	$0	–	-22,935	–	-0.01%	–
CYRX	Exit	CRYOPORT INC	$0	–	-18,395	–	-0.01%	–
NSTG	Exit	NANOSTRING TECHNOLOGIES INC	$0	–	-15,345	–	-0.01%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,235	–	-0.01%	–
WAAS	Exit	AQUAVENTURE HLDGS LTD	$0	–	-16,370	–	-0.01%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-5,000	–	-0.01%	–
NVEE	Exit	NV5 GLOBAL INC	$0	–	-5,355	–	-0.01%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-3,024	–	-0.01%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-1,300	–	-0.01%	–
ROP	Exit	ROPER TECHNOLOGIES INC	$0	–	-1,030	–	-0.01%	–
CDNA	Exit	CAREDX INC	$0	–	-15,005	–	-0.01%	–
ADBE	Exit	ADOBE INC	$0	–	-1,270	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-6,900	–	-0.01%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-4,793	–	-0.01%	–
KIDS	Exit	ORTHOPEDIATRICS CORP	$0	–	-10,820	–	-0.01%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-2,995	–	-0.01%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-2,450	–	-0.01%	–
WLDN	Exit	WILLDAN GROUP INC	$0	–	-11,130	–	-0.01%	–
USPH	Exit	U S PHYSICAL THERAPY INC	$0	–	-2,880	–	-0.01%	–
XYL	Exit	XYLEM INC	$0	–	-5,120	–	-0.01%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-2,082	–	-0.01%	–
GRMN	Exit	GARMIN LTD	$0	–	-4,570	–	-0.01%	–
WPC	Exit	W P CAREY INC	$0	–	-4,850	–	-0.01%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-6,368	–	-0.01%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-1,655	–	-0.01%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,681	–	-0.01%	–
FTNT	Exit	FORTINET INC	$0	–	-6,113	–	-0.01%	–
TRMB	Exit	TRIMBLE INC	$0	–	-13,029	–	-0.01%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,091	–	-0.01%	–
INTU	Exit	INTUIT	$0	–	-1,940	–	-0.01%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-3,940	–	-0.01%	–
UFI	Exit	UNIFI INC	$0	–	-24,640	–	-0.01%	–
MRK	Exit	MERCK & CO INC	$0	–	-6,650	–	-0.01%	–
LIN	Exit	LINDE PLC	$0	–	-2,815	–	-0.01%	–
AAPL	Exit	APPLE INC	$0	–	-2,600	–	-0.02%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.02%	–
ABBV	Exit	ABBVIE INC	$0	–	-7,935	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-6,695	–	-0.02%	–
PFE	Exit	PFIZER INC	$0	–	-17,108	–	-0.02%	–
SJM	Exit	SMUCKER J M CO	$0	–	-5,994	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-4,779	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-2,385	–	-0.02%	–
ABT	Exit	ABBOTT LABS	$0	–	-8,990	–	-0.02%	–
MMM	Exit	3M CO	$0	–	-4,770	–	-0.02%	–
UNP	Exit	UNION PACIFIC CORP	$0	–	-5,332	–	-0.02%	–
FAST	Exit	FASTENAL CO	$0	–	-28,007	–	-0.02%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-1,655	–	-0.02%	–
MKL	Exit	MARKEL CORP	$0	–	-854	–	-0.03%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-6,717	–	-0.03%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-20,566	–	-0.04%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-19,104	–	-0.04%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-35,160	–	-0.04%	–
PS	Exit	PLURALSIGHT INC	$0	–	-151,239	–	-0.06%	–
IAA	Exit	IAA INC	$0	–	-65,010	–	-0.07%	–
LCII	Exit	LCI INDS	$0	–	-31,720	–	-0.08%	–
AOS	Exit	SMITH A O CORP	$0	–	-67,648	–	-0.08%	–
HCAT	Exit	HEALTH CATALYST INC	$0	–	-102,690	–	-0.08%	–
CGNX	Exit	COGNEX CORP	$0	–	-67,534	–	-0.08%	–
IT	Exit	GARTNER INC	$0	–	-24,660	–	-0.09%	–
GGG	Exit	GRACO INC	$0	–	-76,996	–	-0.09%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-13,274	–	-0.10%	–
WSO	Exit	WATSCO INC	$0	–	-25,011	–	-0.11%	–
CPRT	Exit	COPART INC	$0	–	-55,269	–	-0.11%	–
TFX	Exit	TELEFLEX INC	$0	–	-13,832	–	-0.12%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-46,295	–	-0.12%	–
MTN	Exit	VAIL RESORTS INC	$0	–	-21,846	–	-0.13%	–
ANSS	Exit	ANSYS INC	$0	–	-22,747	–	-0.13%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-38,518	–	-0.14%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-39,740	–	-0.15%	–
ROL	Exit	ROLLINS INC	$0	–	-171,695	–	-0.15%	–
POOL	Exit	POOL CORPORATION	$0	–	-29,329	–	-0.15%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-69,448	–	-0.17%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-46,127	–	-0.18%	–
OFLX	Exit	OMEGA FLEX INC	$0	–	-109,371	–	-0.29%	–
EVI	Exit	EVI INDUSTRIES INC	$0	–	-597,147	–	-0.49%	–
FIVN	Exit	FIVE9 INC	$0	–	-500,592	–	-0.69%	–
ROAD	Exit	CONSTRUCTION PARTNERS INC	$0	–	-2,102,565	–	-0.84%	–
NRC	Exit	NATIONAL RESH CORP	$0	–	-622,530	–	-0.92%	–
AXON	Exit	AXON ENTERPRISE INC	$0	–	-827,205	–	-1.20%	–
WDFC	Exit	WD-40 CO	$0	–	-263,456	–	-1.24%	–
BL	Exit	BLACKLINE INC	$0	–	-1,149,219	–	-1.41%	–
CHEF	Exit	CHEFS WHSE INC	$0	–	-1,371,164	–	-1.42%	–
ALTR	Exit	ALTAIR ENGR INC	$0	–	-1,599,630	–	-1.42%	–
PRLB	Exit	PROTO LABS INC	$0	–	-572,245	–	-1.50%	–
LMAT	Exit	LEMAITRE VASCULAR INC	$0	–	-1,723,155	–	-1.51%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-592,811	–	-1.51%	–
MGPI	Exit	MGP INGREDIENTS INC NEW	$0	–	-1,229,450	–	-1.56%	–
SPSC	Exit	SPS COMMERCE INC	$0	–	-1,310,333	–	-1.58%	–
HLIO	Exit	HELIOS TECHNOLOGIES INC	$0	–	-1,522,827	–	-1.58%	–
CWST	Exit	CASELLA WASTE SYS INCcl a	$0	–	-1,448,475	–	-1.59%	–
MMSI	Exit	MERIT MED SYS INC	$0	–	-2,045,887	–	-1.60%	–
ROLL	Exit	RBC BEARINGS INC	$0	–	-378,746	–	-1.61%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-632,694	–	-1.61%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-324,999	–	-1.63%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-817,893	–	-1.66%	–
NOVT	Exit	NOVANTA INC	$0	–	-806,553	–	-1.69%	–
PCTY	Exit	PAYLOCITY HLDG CORP	$0	–	-691,356	–	-1.73%	–
FSV	Exit	FIRSTSERVICE CORP NEW	$0	–	-689,765	–	-1.81%	–
AAON	Exit	AAON INC	$0	–	-1,621,793	–	-1.91%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-3,039,592	–	-1.92%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-1,017,795	–	-1.93%	–
ROG	Exit	ROGERS CORP	$0	–	-561,719	–	-1.96%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,968,848	–	-1.98%	–
AIN	Exit	ALBANY INTL CORPcl a	$0	–	-866,310	–	-2.00%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-812,033	–	-2.04%	–
BCPC	Exit	BALCHEM CORP	$0	–	-819,465	–	-2.08%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-310,378	–	-2.08%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-2,691,334	–	-2.16%	–
PLOW	Exit	DOUGLAS DYNAMICS INC	$0	–	-1,970,834	–	-2.25%	–
ESE	Exit	ESCO TECHNOLOGIES INC	$0	–	-1,167,829	–	-2.38%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-1,028,878	–	-2.38%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-1,636,197	–	-2.50%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-1,278,979	–	-2.51%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-1,606,719	–	-2.56%	–
MRCY	Exit	MERCURY SYS INC	$0	–	-1,258,399	–	-2.61%	–
MLAB	Exit	MESA LABS INC	$0	–	-450,748	–	-2.74%	–
NEOG	Exit	NEOGEN CORP	$0	–	-1,578,978	–	-2.75%	–
TREX	Exit	TREX CO INC	$0	–	-1,220,380	–	-2.84%	–
OMCL	Exit	OMNICELL INC	$0	–	-1,580,906	–	-2.92%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-1,680,943	–	-2.98%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-1,695,406	–	-3.24%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-3,516,995	–	-3.63%	–
EXPO	Exit	EXPONENT INC	$0	–	-2,403,212	–	-4.30%	–

Q3 2019

			Value		Shares		↓ Weighting
EXPO	Sell	EXPONENT INC	$167,985,000	+18.5%	2,403,212	-0.8%	4.30%	+21.3%
DSGX	Sell	DESCARTES SYS GROUP INC	$141,770,000	+8.4%	3,516,995	-0.6%	3.63%	+11.0%
CMD	Sell	CANTEL MEDICAL CORP	$126,816,000	-7.6%	1,695,406	-0.4%	3.24%	-5.4%
SSD	Sell	SIMPSON MANUFACTURING CO INC	$116,607,000	+3.8%	1,680,943	-0.6%	2.98%	+6.3%
OMCL	Buy	OMNICELL INC	$114,252,000	-15.7%	1,580,906	+0.3%	2.92%	-13.7%
TREX	Sell	TREX CO INC	$110,969,000	+26.2%	1,220,380	-0.5%	2.84%	+29.2%
NEOG	Sell	NEOGEN CORP	$107,544,000	+8.7%	1,578,978	-0.9%	2.75%	+11.3%
MLAB	Sell	MESA LABS INC	$107,174,000	-3.6%	450,748	-0.9%	2.74%	-1.3%
MRCY	Sell	MERCURY SYS INC	$102,144,000	+14.6%	1,258,399	-0.7%	2.61%	+17.3%
FOXF	Sell	FOX FACTORY HLDG CORP	$100,002,000	-24.9%	1,606,719	-0.5%	2.56%	-23.2%
RGEN	Sell	REPLIGEN CORP	$98,085,000	-32.8%	1,278,979	-24.7%	2.51%	-31.2%
PRO	Sell	PROS HOLDINGS INC	$97,517,000	-24.5%	1,636,197	-19.9%	2.50%	-22.7%
BLKB	Sell	BLACKBAUD INC	$92,949,000	+7.3%	1,028,878	-0.8%	2.38%	+9.9%
ESE	Sell	ESCO TECHNOLOGIES INC	$92,912,000	-4.6%	1,167,829	-0.9%	2.38%	-2.3%
PLOW	Sell	DOUGLAS DYNAMICS INC	$87,840,000	+10.8%	1,970,834	-1.1%	2.25%	+13.5%
ACIW	Sell	ACI WORLDWIDE INC	$84,306,000	-9.0%	2,691,334	-0.2%	2.16%	-6.8%
TYL	Sell	TYLER TECHNOLOGIES INC	$81,474,000	+20.8%	310,378	-0.6%	2.08%	+23.7%
BCPC	Sell	BALCHEM CORP	$81,283,000	-1.2%	819,465	-0.4%	2.08%	+1.2%
LOPE	Buy	GRAND CANYON ED INC	$79,742,000	-13.7%	812,033	+2.8%	2.04%	-11.6%
AIN	Buy	ALBANY INTL CORPcl a	$78,107,000	+158.1%	866,310	+137.3%	2.00%	+164.4%
EPAY	Sell	BOTTOMLINE TECH DEL INC	$77,474,000	-11.4%	1,968,848	-0.4%	1.98%	-9.2%
ROG	Sell	ROGERS CORP	$76,793,000	-21.2%	561,719	-0.6%	1.96%	-19.4%
SITE	Sell	SITEONE LANDSCAPE SUPPLY INC	$75,337,000	+6.5%	1,017,795	-0.3%	1.93%	+9.0%
VCRA	Buy	VOCERA COMMUNICATIONS INC	$74,926,000	-0.2%	3,039,592	+29.3%	1.92%	+2.2%
AAON	Sell	AAON INC	$74,505,000	-9.2%	1,621,793	-0.8%	1.91%	-7.0%
FSV	Buy	FIRSTSERVICE CORP NEW	$70,749,000	+7.4%	689,765	+0.4%	1.81%	+10.0%
PCTY	Buy	PAYLOCITY HLDG CORP	$67,463,000	+19.2%	691,356	+14.6%	1.73%	+22.0%
NOVT	Buy	NOVANTA INC	$65,912,000	-0.1%	806,553	+15.3%	1.69%	+2.4%
DORM	Buy	DORMAN PRODUCTS INC	$65,055,000	-8.5%	817,893	+0.3%	1.66%	-6.2%
TECH	Sell	BIO TECHNE CORP	$63,593,000	-7.2%	324,999	-1.1%	1.63%	-5.0%
LGND	Sell	LIGAND PHARMACEUTICALS INC	$62,978,000	-13.3%	632,694	-0.6%	1.61%	-11.2%
ROLL	Buy	RBC BEARINGS INC	$62,838,000	+123.9%	378,746	+125.1%	1.61%	+129.4%
MMSI	Buy	MERIT MED SYS INC	$62,318,000	+21.4%	2,045,887	+137.4%	1.60%	+24.3%
CWST	New	CASELLA WASTE SYS INCcl a	$62,198,000	–	1,448,475	–	1.59%	–
HLIO	Sell	HELIOS TECHNOLOGIES INC	$61,781,000	-13.1%	1,522,827	-0.6%	1.58%	-11.0%
SPSC	Buy	SPS COMMERCE INC	$61,677,000	-8.3%	1,310,333	+99.1%	1.58%	-6.1%
MGPI	Sell	MGP INGREDIENTS INC NEW	$61,079,000	-25.8%	1,229,450	-0.9%	1.56%	-24.0%
JBT	Sell	JOHN BEAN TECHNOLOGIES CORP	$58,943,000	-35.8%	592,811	-21.8%	1.51%	-34.3%
LMAT	Sell	LEMAITRE VASCULAR INC	$58,897,000	+20.9%	1,723,155	-1.0%	1.51%	+23.7%
PRLB	Sell	PROTO LABS INC	$58,426,000	-12.3%	572,245	-0.3%	1.50%	-10.2%
ALTR	New	ALTAIR ENGR INC	$55,379,000	–	1,599,630	–	1.42%	–
CHEF	Sell	CHEFS WHSE INC	$55,285,000	+14.7%	1,371,164	-0.3%	1.42%	+17.4%
BL	Sell	BLACKLINE INC	$54,944,000	-10.7%	1,149,219	-0.0%	1.41%	-8.5%
WDFC	Sell	WD-40 CO	$48,355,000	+15.0%	263,456	-0.4%	1.24%	+17.7%
AXON	Buy	AXON ENTERPRISE INC	$46,969,000	-11.3%	827,205	+0.3%	1.20%	-9.2%
NRC	Sell	NATIONAL RESH CORP	$35,951,000	-0.4%	622,530	-0.7%	0.92%	+2.0%
ROAD	Buy	CONSTRUCTION PARTNERS INC	$32,758,000	+7870.3%	2,102,565	+7584.8%	0.84%	+8280.0%
FIVN	Sell	FIVE9 INC	$26,902,000	+4.1%	500,592	-0.7%	0.69%	+6.5%
EVI	Buy	EVI INDUSTRIES INC	$19,061,000	-16.3%	597,147	+0.4%	0.49%	-14.2%
OFLX	Buy	OMEGA FLEX INC	$11,183,000	+3373.0%	109,371	+2507.2%	0.29%	+3475.0%
BFAM	Sell	BRIGHT HORIZONS FAM SOL IN D	$7,034,000	-3.1%	46,127	-4.2%	0.18%	-0.6%
HEIA	Sell	HEICO CORP NEWcl a	$6,758,000	-9.7%	69,448	-4.0%	0.17%	-7.5%
POOL	Sell	POOL CORPORATION	$5,916,000	+0.4%	29,329	-5.0%	0.15%	+2.7%
ROL	Sell	ROLLINS INC	$5,850,000	-7.9%	171,695	-3.1%	0.15%	-5.7%
JKHY	Buy	HENRY JACK & ASSOC INC	$5,801,000	+35.1%	39,740	+24.0%	0.15%	+38.3%
WST	Sell	WEST PHARMACEUTICAL SVSC INC	$5,463,000	+9.7%	38,518	-3.2%	0.14%	+12.9%
ANSS	Sell	ANSYS INC	$5,035,000	-8.2%	22,747	-15.1%	0.13%	-5.8%
MTN	Buy	VAIL RESORTS INC	$4,971,000	+29.2%	21,846	+26.7%	0.13%	+32.3%
GWRE	Sell	GUIDEWIRE SOFTWARE INC	$4,879,000	+2.8%	46,295	-1.2%	0.12%	+5.0%
TFX	Sell	TELEFLEX INC	$4,699,000	-2.3%	13,832	-4.8%	0.12%	0.0%
CPRT	Sell	COPART INC	$4,440,000	-21.8%	55,269	-27.2%	0.11%	-19.7%
WSO	Sell	WATSCO INC	$4,231,000	+2.5%	25,011	-0.9%	0.11%	+4.9%
FICO	Sell	FAIR ISAAC CORP	$4,029,000	-6.8%	13,274	-3.6%	0.10%	-4.6%
GGG	Sell	GRACO INC	$3,545,000	-11.0%	76,996	-3.0%	0.09%	-9.0%
IT	Sell	GARTNER INC	$3,526,000	-13.9%	24,660	-3.1%	0.09%	-11.8%
CGNX	Buy	COGNEX CORP	$3,318,000	+53.3%	67,534	+49.7%	0.08%	+57.4%
HCAT	New	HEALTH CATALYST INC	$3,249,000	–	102,690	–	0.08%	–
AOS	Buy	SMITH A O CORP	$3,227,000	+45.1%	67,648	+43.5%	0.08%	+48.2%
LCII	Buy	LCI INDS	$2,913,000	+2.9%	31,720	+0.8%	0.08%	+5.6%
IAA	Buy	IAA INC	$2,713,000	+35.9%	65,010	+26.2%	0.07%	+38.0%
PS	Buy	PLURALSIGHT INC	$2,540,000	+10.2%	151,239	+99.1%	0.06%	+12.1%
CLB	Buy	CORE LABORATORIES N V	$1,639,000	+73.6%	35,160	+94.8%	0.04%	+75.0%
INFO	Sell	IHS MARKIT LTD	$1,375,000	+3.3%	20,566	-1.6%	0.04%	+6.1%
VRSK	Sell	VERISK ANALYTICS INC	$1,062,000	+5.9%	6,717	-1.9%	0.03%	+8.0%
MKL	Sell	MARKEL CORP	$1,009,000	+7.2%	854	-1.2%	0.03%	+8.3%
CSGP	Sell	COSTAR GROUP INC	$982,000	-77.7%	1,655	-79.2%	0.02%	-77.3%
FAST	Sell	FASTENAL CO	$915,000	-2.7%	28,007	-2.9%	0.02%	0.0%
MMM	Sell	3M CO	$784,000	-6.3%	4,770	-1.2%	0.02%	-4.8%
COST	Sell	COSTCO WHSL CORP NEW	$687,000	+7.8%	2,385	-1.0%	0.02%	+12.5%
MSFT	Sell	MICROSOFT CORP	$664,000	-0.4%	4,779	-4.0%	0.02%	0.0%
SJM	Sell	SMUCKER J M CO	$660,000	-6.6%	5,994	-2.3%	0.02%	-5.6%
TSCO	Sell	TRACTOR SUPPLY CO	$606,000	-21.0%	6,695	-5.0%	0.02%	-15.8%
AAPL	Sell	APPLE INC	$582,000	+5.8%	2,600	-6.5%	0.02%	+7.1%
LIN	Sell	LINDE PLC	$545,000	-5.5%	2,815	-2.1%	0.01%	0.0%
INTU	Sell	INTUIT	$516,000	-6.7%	1,940	-8.3%	0.01%	-7.1%
JNJ	Sell	JOHNSON & JOHNSON	$476,000	-9.7%	3,681	-2.6%	0.01%	-7.7%
MA	Sell	MASTERCARD INCcl a	$449,000	-3.6%	1,655	-6.0%	0.01%	-8.3%
KIDS	Buy	ORTHOPEDIATRICS CORP	$382,000	-5.7%	10,820	+4.1%	0.01%	0.0%
WLDN	Buy	WILLDAN GROUP INC	$390,000	-2.0%	11,130	+4.2%	0.01%	0.0%
IPGP	Sell	IPG PHOTONICS CORP	$406,000	-15.4%	2,995	-3.9%	0.01%	-16.7%
XYL	Sell	XYLEM INC	$408,000	-8.9%	5,120	-4.5%	0.01%	-9.1%
USPH	Buy	U S PHYSICAL THERAPY INC	$376,000	+11.2%	2,880	+4.5%	0.01%	+25.0%
CDNA	Buy	CAREDX INC	$339,000	-15.2%	15,005	+35.1%	0.01%	-10.0%
NVEE	Buy	NV5 GLOBAL INC	$366,000	-12.4%	5,355	+4.4%	0.01%	-10.0%
ADBE	Sell	ADOBE INC	$351,000	-10.5%	1,270	-4.5%	0.01%	-10.0%
ROP	Sell	ROPER TECHNOLOGIES INC	$367,000	-3.7%	1,030	-1.0%	0.01%	-10.0%
IDXX	Sell	IDEXX LABS INC	$354,000	-89.6%	1,300	-89.5%	0.01%	-89.4%
CDXS	Buy	CODEXIS INC	$315,000	-9.7%	22,935	+21.3%	0.01%	-11.1%
IIN	Buy	INTRICON CORP	$298,000	+30.7%	15,350	+57.4%	0.01%	+33.3%
CYRX	Sell	CRYOPORT INC	$301,000	-24.2%	18,395	-15.2%	0.01%	-20.0%
NSTG	Sell	NANOSTRING TECHNOLOGIES INC	$331,000	-33.1%	15,345	-6.0%	0.01%	-33.3%
WAB	Sell	WABTEC CORP	$300,000	-12.8%	4,178	-12.7%	0.01%	-11.1%
WAAS	Buy	AQUAVENTURE HLDGS LTD	$318,000	+1.3%	16,370	+4.1%	0.01%	0.0%
GOOGL	Sell	ALPHABET INCcap stk cl a	$256,000	+7.6%	210	-4.5%	0.01%	+16.7%
ECL	Sell	ECOLAB INC	$267,000	-4.6%	1,350	-4.9%	0.01%	0.0%
DHR	Sell	DANAHER CORPORATION	$268,000	-7.9%	1,855	-8.8%	0.01%	0.0%
SSTI	Buy	SHOTSPOTTER INC	$275,000	-26.7%	11,930	+40.7%	0.01%	-22.2%
NKE	Sell	NIKE INCcl b	$276,000	+6.2%	2,940	-5.2%	0.01%	+16.7%
GOOG	Sell	ALPHABET INCcap stk cl c	$250,000	+2.9%	205	-8.9%	0.01%	0.0%
VCEL	New	VERICEL CORP	$251,000	–	16,600	–	0.01%	–
BLFS	Buy	BIOLIFE SOLUTIONS INC	$239,000	+2.1%	14,385	+4.2%	0.01%	0.0%
TWST	Buy	TWIST BIOSCIENCE CORP	$237,000	-14.1%	9,925	+4.2%	0.01%	-14.3%
CEMI	New	CHEMBIO DIAGNOSTICS INC	$177,000	–	29,000	–	0.01%	–
NEO	Exit	NEOGENOMICS INC	$0	–	-11,840	–	-0.01%	–
HSKA	Exit	HESKA CORP	$0	–	-3,395	–	-0.01%	–
SLP	Exit	SIMULATIONS PLUS INC	$0	–	-13,305	–	-0.01%	–
NVEC	Exit	NVE CORP	$0	–	-324,357	–	-0.56%	–
MTDR	Exit	MATADOR RES CO	$0	–	-1,296,834	–	-0.64%	–
BID	Exit	SOTHEBYS	$0	–	-1,018,238	–	-1.48%	–
WAGE	Exit	WAGEWORKS INC	$0	–	-1,390,262	–	-1.76%	–

Q2 2019

			Value		Shares		↓ Weighting
RGEN	New	REPLIGEN CORP	$145,971,000	–	1,698,329	–	3.65%	–
EXPO	New	EXPONENT INC	$141,785,000	–	2,422,012	–	3.54%	–
CMD	New	CANTEL MEDICAL CORP	$137,273,000	–	1,702,289	–	3.43%	–
OMCL	New	OMNICELL INC	$135,554,000	–	1,575,661	–	3.39%	–
FOXF	New	FOX FACTORY HLDG CORP	$133,236,000	–	1,614,784	–	3.33%	–
DSGX	New	DESCARTES SYS GROUP INC	$130,773,000	–	3,539,198	–	3.27%	–
PRO	New	PROS HOLDINGS INC	$129,224,000	–	2,042,742	–	3.23%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$112,363,000	–	1,690,682	–	2.81%	–
MLAB	New	MESA LABS INC	$111,186,000	–	455,048	–	2.78%	–
NEOG	New	NEOGEN CORP	$98,946,000	–	1,593,083	–	2.47%	–
ROG	New	ROGERS CORP	$97,502,000	–	564,966	–	2.44%	–
ESE	New	ESCO TECHNOLOGIES INC	$97,367,000	–	1,178,487	–	2.43%	–
ACIW	New	ACI WORLDWIDE INC	$92,651,000	–	2,698,054	–	2.32%	–
LOPE	New	GRAND CANYON ED INC	$92,396,000	–	789,573	–	2.31%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$91,842,000	–	758,210	–	2.30%	–
MRCY	New	MERCURY SYS INC	$89,160,000	–	1,267,378	–	2.23%	–
TREX	New	TREX CO INC	$87,953,000	–	1,226,675	–	2.20%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$87,416,000	–	1,975,952	–	2.18%	–
BLKB	New	BLACKBAUD INC	$86,616,000	–	1,037,322	–	2.16%	–
MGPI	New	MGP INGREDIENTS INC NEW	$82,295,000	–	1,241,064	–	2.06%	–
BCPC	New	BALCHEM CORP	$82,255,000	–	822,800	–	2.06%	–
AAON	New	AAON INC	$82,061,000	–	1,635,333	–	2.05%	–
PLOW	New	DOUGLAS DYNAMICS INC	$79,267,000	–	1,992,143	–	1.98%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$75,056,000	–	2,351,367	–	1.88%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$72,679,000	–	636,699	–	1.82%	–
HLIO	New	HELIOS TECHNOLOGIES INC	$71,105,000	–	1,532,099	–	1.78%	–
DORM	New	DORMAN PRODUCTS INC	$71,067,000	–	815,548	–	1.78%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$70,772,000	–	1,021,235	–	1.77%	–
WAGE	New	WAGEWORKS INC	$70,611,000	–	1,390,262	–	1.76%	–
TECH	New	BIO TECHNE CORP	$68,506,000	–	328,584	–	1.71%	–
TYL	New	TYLER TECHNOLOGIES INC	$67,431,000	–	312,153	–	1.68%	–
SPSC	New	SPS COMMERCE INC	$67,278,000	–	658,236	–	1.68%	–
PRLB	New	PROTO LABS INC	$66,613,000	–	574,150	–	1.66%	–
NOVT	New	NOVANTA INC	$65,947,000	–	699,333	–	1.65%	–
FSV	New	FIRSTSERVICE CORP NEW	$65,886,000	–	686,889	–	1.65%	–
BL	New	BLACKLINE INC	$61,518,000	–	1,149,659	–	1.54%	–
BID	New	SOTHEBYS	$59,190,000	–	1,018,238	–	1.48%	–
PCTY	New	PAYLOCITY HLDG CORP	$56,611,000	–	603,401	–	1.42%	–
AXON	New	AXON ENTERPRISE INC	$52,982,000	–	825,135	–	1.32%	–
MMSI	New	MERIT MED SYS INC	$51,321,000	–	861,670	–	1.28%	–
LMAT	New	LEMAITRE VASCULAR INC	$48,719,000	–	1,741,196	–	1.22%	–
CHEF	New	CHEFS WHSE INC	$48,213,000	–	1,374,765	–	1.20%	–
WDFC	New	WD-40 CO	$42,059,000	–	264,453	–	1.05%	–
NRC	New	NATIONAL RESH CORP	$36,102,000	–	626,878	–	0.90%	–
AIN	New	ALBANY INTL CORPcl a	$30,265,000	–	365,034	–	0.76%	–
ROLL	New	RBC BEARINGS INC	$28,061,000	–	168,222	–	0.70%	–
FIVN	New	FIVE9 INC	$25,849,000	–	503,987	–	0.65%	–
MTDR	New	MATADOR RES CO	$25,781,000	–	1,296,834	–	0.64%	–
EVI	New	EVI INDUSTRIES INC	$22,772,000	–	595,037	–	0.57%	–
NVEC	New	NVE CORP	$22,585,000	–	324,357	–	0.56%	–
HEIA	New	HEICO CORP NEWcl a	$7,480,000	–	72,358	–	0.19%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$7,262,000	–	48,137	–	0.18%	–
ROL	New	ROLLINS INC	$6,353,000	–	177,105	–	0.16%	–
POOL	New	POOL CORPORATION	$5,894,000	–	30,859	–	0.15%	–
CPRT	New	COPART INC	$5,676,000	–	75,939	–	0.14%	–
ANSS	New	ANSYS INC	$5,484,000	–	26,777	–	0.14%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$4,981,000	–	39,803	–	0.12%	–
TFX	New	TELEFLEX INC	$4,812,000	–	14,532	–	0.12%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$4,748,000	–	46,834	–	0.12%	–
CSGP	New	COSTAR GROUP INC	$4,400,000	–	7,942	–	0.11%	–
FICO	New	FAIR ISAAC CORP	$4,324,000	–	13,769	–	0.11%	–
JKHY	New	HENRY JACK & ASSOC INC	$4,293,000	–	32,055	–	0.11%	–
WSO	New	WATSCO INC	$4,127,000	–	25,236	–	0.10%	–
IT	New	GARTNER INC	$4,096,000	–	25,451	–	0.10%	–
GGG	New	GRACO INC	$3,982,000	–	79,356	–	0.10%	–
MTN	New	VAIL RESORTS INC	$3,847,000	–	17,236	–	0.10%	–
IDXX	New	IDEXX LABS INC	$3,396,000	–	12,335	–	0.08%	–
LCII	New	LCI INDS	$2,832,000	–	31,465	–	0.07%	–
PS	New	PLURALSIGHT INC	$2,304,000	–	75,979	–	0.06%	–
AOS	New	SMITH A O CORP	$2,224,000	–	47,153	–	0.06%	–
CGNX	New	COGNEX CORP	$2,165,000	–	45,124	–	0.05%	–
IAA	New	IAA INC	$1,997,000	–	51,505	–	0.05%	–
XOM	New	EXXON MOBIL CORP	$1,464,000	–	19,104	–	0.04%	–
INFO	New	IHS MARKIT LTD	$1,331,000	–	20,896	–	0.03%	–
VRSK	New	VERISK ANALYTICS INC	$1,003,000	–	6,847	–	0.02%	–
MKL	New	MARKEL CORP	$941,000	–	864	–	0.02%	–
CLB	New	CORE LABORATORIES N V	$944,000	–	18,050	–	0.02%	–
UNP	New	UNION PACIFIC CORP	$902,000	–	5,332	–	0.02%	–
FAST	New	FASTENAL CO	$940,000	–	28,837	–	0.02%	–
MMM	New	3M CO	$837,000	–	4,830	–	0.02%	–
ABT	New	ABBOTT LABS	$756,000	–	8,990	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$767,000	–	7,045	–	0.02%	–
PFE	New	PFIZER INC	$741,000	–	17,108	–	0.02%	–
SJM	New	SMUCKER J M CO	$707,000	–	6,134	–	0.02%	–
MSFT	New	MICROSOFT CORP	$667,000	–	4,979	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$637,000	–	2,410	–	0.02%	–
FDS	New	FACTSET RESH SYS INC	$599,000	–	2,091	–	0.02%	–
TRMB	New	TRIMBLE INC	$588,000	–	13,029	–	0.02%	–
LIN	New	LINDE PLC	$577,000	–	2,875	–	0.01%	–
ALGN	New	ALIGN TECHNOLOGY INC	$570,000	–	2,082	–	0.01%	–
KMB	New	KIMBERLY CLARK CORP	$566,000	–	4,250	–	0.01%	–
ABBV	New	ABBVIE INC	$577,000	–	7,935	–	0.01%	–
INTU	New	INTUIT	$553,000	–	2,115	–	0.01%	–
MRK	New	MERCK & CO INC	$558,000	–	6,650	–	0.01%	–
AAPL	New	APPLE INC	$550,000	–	2,780	–	0.01%	–
JNJ	New	JOHNSON & JOHNSON	$527,000	–	3,781	–	0.01%	–
NSTG	New	NANOSTRING TECHNOLOGIES INC	$495,000	–	16,320	–	0.01%	–
FTNT	New	FORTINET INC	$470,000	–	6,113	–	0.01%	–
IPGP	New	IPG PHOTONICS CORP	$480,000	–	3,115	–	0.01%	–
MA	New	MASTERCARD INCcl a	$466,000	–	1,760	–	0.01%	–
PG	New	PROCTER AND GAMBLE CO	$432,000	–	3,940	–	0.01%	–
XYL	New	XYLEM INC	$448,000	–	5,360	–	0.01%	–
UFI	New	UNIFI INC	$448,000	–	24,640	–	0.01%	–
DLB	New	DOLBY LABORATORIES INC	$411,000	–	6,368	–	0.01%	–
CDNA	New	CAREDX INC	$400,000	–	11,105	–	0.01%	–
ROP	New	ROPER TECHNOLOGIES INC	$381,000	–	1,040	–	0.01%	–
KIDS	New	ORTHOPEDIATRICS CORP	$405,000	–	10,395	–	0.01%	–
WLDN	New	WILLDAN GROUP INC	$398,000	–	10,680	–	0.01%	–
HXL	New	HEXCEL CORP NEW	$388,000	–	4,793	–	0.01%	–
WPC	New	W P CAREY INC	$394,000	–	4,850	–	0.01%	–
ROAD	New	CONSTRUCTION PARTNERS INC	$411,000	–	27,360	–	0.01%	–
ADBE	New	ADOBE INC	$392,000	–	1,330	–	0.01%	–
VEEV	New	VEEVA SYS INC	$397,000	–	2,450	–	0.01%	–
NVEE	New	NV5 GLOBAL INC	$418,000	–	5,130	–	0.01%	–
CYRX	New	CRYOPORT INC	$397,000	–	21,695	–	0.01%	–
WAB	New	WABTEC CORP	$344,000	–	4,788	–	0.01%	–
CDXS	New	CODEXIS INC	$349,000	–	18,910	–	0.01%	–
SSTI	New	SHOTSPOTTER INC	$375,000	–	8,480	–	0.01%	–
SLP	New	SIMULATIONS PLUS INC	$380,000	–	13,305	–	0.01%	–
CVX	New	CHEVRON CORP NEW	$376,000	–	3,024	–	0.01%	–
GRMN	New	GARMIN LTD	$365,000	–	4,570	–	0.01%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$308,000	–	2,235	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$306,000	–	2,741	–	0.01%	–
WAAS	New	AQUAVENTURE HLDGS LTD	$314,000	–	15,720	–	0.01%	–
USPH	New	U S PHYSICAL THERAPY INC	$338,000	–	2,755	–	0.01%	–
OFLX	New	OMEGA FLEX INC	$322,000	–	4,195	–	0.01%	–
INTC	New	INTEL CORP	$330,000	–	6,900	–	0.01%	–
TWST	New	TWIST BIOSCIENCE CORP	$276,000	–	9,525	–	0.01%	–
ECL	New	ECOLAB INC	$280,000	–	1,420	–	0.01%	–
HSKA	New	HESKA CORP	$289,000	–	3,395	–	0.01%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$279,000	–	5,000	–	0.01%	–
DHR	New	DANAHER CORPORATION	$291,000	–	2,035	–	0.01%	–
AMGN	New	AMGEN INC	$245,000	–	1,330	–	0.01%	–
BLFS	New	BIOLIFE SOLUTIONS INC	$234,000	–	13,810	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$238,000	–	220	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$243,000	–	225	–	0.01%	–
EVH	New	EVOLENT HEALTH INCcl a	$242,000	–	30,390	–	0.01%	–
WTR	New	AQUA AMERICA INC	$252,000	–	6,087	–	0.01%	–
NEO	New	NEOGENOMICS INC	$260,000	–	11,840	–	0.01%	–
HD	New	HOME DEPOT INC	$250,000	–	1,200	–	0.01%	–
NKE	New	NIKE INCcl b	$260,000	–	3,100	–	0.01%	–
IIN	New	INTRICON CORP	$228,000	–	9,750	–	0.01%	–
VZ	New	VERIZON COMMUNICATIONS INC	$216,000	–	3,773	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-365	–	-0.01%	–
ECL	Exit	ECOLAB INC	$0	–	-1,420	–	-0.01%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-1,850	–	-0.01%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-1,632	–	-0.01%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-2,035	–	-0.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-225	–	-0.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-225	–	-0.01%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-5,012	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.01%	–
ABMD	Exit	ABIOMED INC	$0	–	-600	–	-0.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,300	–	-0.01%	–
NKE	Exit	NIKE INCcl b	$0	–	-3,375	–	-0.01%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-5,000	–	-0.01%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-4,818	–	-0.01%	–
GRMN	Exit	GARMIN LTD	$0	–	-4,570	–	-0.01%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-3,940	–	-0.01%	–
WPC	Exit	W P CAREY INC	$0	–	-4,850	–	-0.01%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,235	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-3,051	–	-0.01%	–
INTC	Exit	INTEL CORP	$0	–	-7,870	–	-0.01%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-1,330	–	-0.01%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-3,274	–	-0.01%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-1,870	–	-0.01%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-6,293	–	-0.01%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,126	–	-0.01%	–
MRK	Exit	MERCK & CO INC	$0	–	-6,900	–	-0.01%	–
PX	Exit	PRAXAIR INC	$0	–	-2,955	–	-0.01%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.01%	–
INTU	Exit	INTUIT	$0	–	-2,200	–	-0.01%	–
TRMB	Exit	TRIMBLE INC	$0	–	-12,444	–	-0.01%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,891	–	-0.01%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-8,753	–	-0.01%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-5,009	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-2,435	–	-0.02%	–
SJM	Exit	SMUCKER J M CO	$0	–	-5,944	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-2,780	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-7,055	–	-0.02%	–
ABT	Exit	ABBOTT LABS	$0	–	-9,223	–	-0.02%	–
ABBV	Exit	ABBVIE INC	$0	–	-7,935	–	-0.02%	–
FTNT	Exit	FORTINET INC	$0	–	-7,913	–	-0.02%	–
PFE	Exit	PFIZER INC	$0	–	-18,135	–	-0.02%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-6,987	–	-0.02%	–
FAST	Exit	FASTENAL CO	$0	–	-14,359	–	-0.02%	–
MKL	Exit	MARKEL CORP	$0	–	-699	–	-0.02%	–
UFI	Exit	UNIFI INC	$0	–	-33,540	–	-0.02%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,665	–	-0.02%	–
MMM	Exit	3M CO	$0	–	-5,164	–	-0.03%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-20,751	–	-0.03%	–
PII	Exit	POLARIS INDS INC	$0	–	-15,566	–	-0.04%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-19,330	–	-0.04%	–
LCII	Exit	LCI INDS	$0	–	-20,895	–	-0.04%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-12,055	–	-0.05%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-16,182	–	-0.05%	–
AOS	Exit	SMITH A O	$0	–	-43,755	–	-0.06%	–
CGNX	Exit	COGNEX CORP	$0	–	-42,604	–	-0.06%	–
DCI	Exit	DONALDSON INC	$0	–	-44,292	–	-0.07%	–
MTN	Exit	VAIL RESORTS INC	$0	–	-10,140	–	-0.07%	–
TFX	Exit	TELEFLEX INC	$0	–	-11,773	–	-0.08%	–
GGG	Exit	GRACO INC	$0	–	-76,581	–	-0.09%	–
WSO	Exit	WATSCO INC	$0	–	-20,604	–	-0.09%	–
IT	Exit	GARTNER INC	$0	–	-24,070	–	-0.10%	–
ULTI	Exit	ULTIMATE SOFTWARE GROUP INC	$0	–	-12,087	–	-0.10%	–
WAB	Exit	WABTEC CORP	$0	–	-36,948	–	-0.10%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-10,132	–	-0.10%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-25,473	–	-0.10%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-16,501	–	-0.10%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-33,608	–	-0.11%	–
CPRT	Exit	COPART INC	$0	–	-86,882	–	-0.11%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-45,175	–	-0.12%	–
ANSS	Exit	ANSYS INC	$0	–	-26,859	–	-0.13%	–
POOL	Exit	POOL CORPORATION	$0	–	-30,828	–	-0.13%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-12,767	–	-0.14%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-47,755	–	-0.14%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-75,529	–	-0.15%	–
EVI	Exit	ENVIROSTAR INC	$0	–	-514,975	–	-0.51%	–
NRC	Exit	NATIONAL RESH CORP	$0	–	-575,019	–	-0.57%	–
EGOV	Exit	NIC INC	$0	–	-2,007,903	–	-0.76%	–
WHG	Exit	WESTWOOD HLDGS GROUP INC	$0	–	-643,129	–	-0.85%	–
ROL	Exit	ROLLINS INC	$0	–	-617,631	–	-0.96%	–
MTDR	Exit	MATADOR RES CO	$0	–	-1,189,821	–	-1.00%	–
NOVT	Exit	NOVANTA INC	$0	–	-643,517	–	-1.12%	–
NVEC	Exit	NVE CORP	$0	–	-442,379	–	-1.20%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-193,299	–	-1.21%	–
SPSC	Exit	SPS COMM INC	$0	–	-507,006	–	-1.28%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-1,773,237	–	-1.40%	–
PLOW	Exit	DOUGLAS DYNAMICS INC	$0	–	-1,274,489	–	-1.43%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-743,623	–	-1.46%	–
BL	Exit	BLACKLINE INC	$0	–	-1,048,255	–	-1.51%	–
HCSG	Exit	HEALTHCARE SVCS GRP INC	$0	–	-1,462,102	–	-1.52%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-505,417	–	-1.54%	–
MDSO	Exit	MEDIDATA SOLUTIONS INC	$0	–	-844,171	–	-1.58%	–
CHEF	Exit	CHEFS WHSE INC	$0	–	-1,708,567	–	-1.58%	–
LMAT	Exit	LEMAITRE VASCULAR INC	$0	–	-1,607,000	–	-1.59%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-309,282	–	-1.61%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-1,783,535	–	-1.66%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-930,106	–	-1.79%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-2,510,262	–	-1.80%	–
BID	Exit	SOTHEBYS	$0	–	-1,470,168	–	-1.85%	–
MRCY	Exit	MERCURY SYS INC	$0	–	-1,311,985	–	-1.85%	–
ESE	Exit	ESCO TECHNOLOGIES INC	$0	–	-1,086,146	–	-1.89%	–
WDFC	Exit	WD-40 CO	$0	–	-439,577	–	-1.93%	–
SNHY	Exit	SUN HYDRAULICS CORP	$0	–	-1,420,192	–	-1.98%	–
ROG	Exit	ROGERS CORP	$0	–	-530,484	–	-1.99%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-2,262,831	–	-2.02%	–
BCPC	Exit	BALCHEM CORP	$0	–	-749,579	–	-2.14%	–
AAON	Exit	AAON INC	$0	–	-2,230,609	–	-2.15%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-748,067	–	-2.15%	–
TREX	Exit	TREX CO INC	$0	–	-1,119,587	–	-2.20%	–
STMP	Exit	STAMPS COM INC	$0	–	-383,078	–	-2.21%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-865,898	–	-2.24%	–
MGPI	Exit	MGP INGREDIENTS INC NEW	$0	–	-1,117,274	–	-2.25%	–
MLAB	Exit	MESA LABS INC	$0	–	-475,439	–	-2.25%	–
WAGE	Exit	WAGEWORKS INC	$0	–	-2,104,741	–	-2.30%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-984,717	–	-2.31%	–
NEOG	Exit	NEOGEN CORP	$0	–	-1,440,469	–	-2.63%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-1,941,212	–	-2.75%	–
PRLB	Exit	PROTO LABS INC	$0	–	-690,326	–	-2.85%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-3,296,440	–	-2.85%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-1,581,452	–	-2.92%	–
EXPO	Exit	EXPONENT INC	$0	–	-2,252,766	–	-3.08%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-1,773,558	–	-3.17%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,803,190	–	-3.35%	–
OMCL	Exit	OMNICELL INC	$0	–	-2,060,908	–	-3.78%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-566,223	–	-3.97%	–

Q3 2018

			Value		Shares		↓ Weighting
LGND	Buy	LIGAND PHARMACEUTICALS INC	$155,423,000	+49.5%	566,223	+12.8%	3.97%	+18.5%
OMCL	Buy	OMNICELL INC	$148,179,000	+54.1%	2,060,908	+12.4%	3.78%	+22.2%
EPAY	Sell	BOTTOMLINE TECH DEL INC	$131,110,000	+31.8%	1,803,190	-9.6%	3.35%	+4.5%
FOXF	Sell	FOX FACTORY HLDG CORP	$124,238,000	+40.7%	1,773,558	-6.5%	3.17%	+11.6%
EXPO	Buy	EXPONENT INC	$120,748,000	+25.6%	2,252,766	+13.2%	3.08%	-0.4%
SSD	Buy	SIMPSON MANUFACTURING CO INC	$114,592,000	+30.6%	1,581,452	+12.1%	2.92%	+3.5%
DSGX	Buy	DESCARTES SYS GROUP INC	$111,749,000	+17.7%	3,296,440	+12.9%	2.85%	-6.7%
PRLB	Buy	PROTO LABS INC	$111,660,000	+55.0%	690,326	+14.0%	2.85%	+22.9%
RGEN	Buy	REPLIGEN CORP	$107,660,000	+33.8%	1,941,212	+13.4%	2.75%	+6.0%
NEOG	Buy	NEOGEN CORP	$103,037,000	+1.6%	1,440,469	+13.9%	2.63%	-19.5%
CMD	Buy	CANTEL MEDICAL CORP	$90,653,000	+33.4%	984,717	+42.6%	2.31%	+5.8%
WAGE	Buy	WAGEWORKS INC	$89,978,000	-2.3%	2,104,741	+14.2%	2.30%	-22.6%
MGPI	Buy	MGP INGREDIENTS INC NEW	$88,242,000	+34.7%	1,117,274	+51.4%	2.25%	+6.7%
MLAB	Buy	MESA LABS INC	$88,251,000	-2.5%	475,439	+10.9%	2.25%	-22.7%
BLKB	Buy	BLACKBAUD INC	$87,871,000	+15.4%	865,898	+16.5%	2.24%	-8.5%
STMP	Buy	STAMPS COM INC	$86,652,000	+3.8%	383,078	+16.1%	2.21%	-17.8%
TREX	Sell	TREX CO INC	$86,186,000	-0.6%	1,119,587	-19.2%	2.20%	-21.2%
LOPE	Buy	GRAND CANYON ED INC	$84,382,000	+13.3%	748,067	+12.1%	2.15%	-10.2%
AAON	Buy	AAON INC	$84,317,000	+27.8%	2,230,609	+12.4%	2.15%	+1.3%
BCPC	Buy	BALCHEM CORP	$84,020,000	+31.5%	749,579	+15.1%	2.14%	+4.2%
PRO	Buy	PROS HOLDINGS INC	$79,244,000	+8.9%	2,262,831	+13.7%	2.02%	-13.7%
ROG	Buy	ROGERS CORP	$78,151,000	+50.7%	530,484	+14.0%	1.99%	+19.5%
SNHY	Buy	SUN HYDRAULICS CORP	$77,798,000	+29.3%	1,420,192	+13.7%	1.98%	+2.5%
WDFC	Buy	WD-40 CO	$75,651,000	+35.0%	439,577	+14.7%	1.93%	+7.0%
ESE	Buy	ESCO TECHNOLOGIES INC	$73,912,000	+35.0%	1,086,146	+14.4%	1.89%	+7.0%
MRCY	Buy	MERCURY SYS INC	$72,579,000	+68.7%	1,311,985	+16.0%	1.85%	+33.7%
BID	Buy	SOTHEBYS	$72,318,000	+2.4%	1,470,168	+13.1%	1.85%	-18.8%
ACIW	Buy	ACI WORLDWIDE INC	$70,639,000	+30.0%	2,510,262	+13.9%	1.80%	+3.0%
SITE	Buy	SITEONE LANDSCAPE SUPPLY INC	$70,074,000	+2.8%	930,106	+14.5%	1.79%	-18.5%
VCRA	Buy	VOCERA COMMUNICATIONS INC	$65,242,000	+39.9%	1,783,535	+14.3%	1.66%	+10.9%
TECH	Buy	BIO TECHNE CORP	$63,128,000	+56.7%	309,282	+13.6%	1.61%	+24.2%
LMAT	Buy	LEMAITRE VASCULAR INC	$62,255,000	+33.5%	1,607,000	+15.4%	1.59%	+5.9%
CHEF	Buy	CHEFS WHSE INC	$62,106,000	+84.4%	1,708,567	+44.6%	1.58%	+46.2%
MDSO	Buy	MEDIDATA SOLUTIONS INC	$61,886,000	+3.2%	844,171	+13.4%	1.58%	-18.2%
JBT	Buy	JOHN BEAN TECHNOLOGIES CORP	$60,296,000	+56.7%	505,417	+16.8%	1.54%	+24.2%
HCSG	Buy	HEALTHCARE SVCS GRP INC	$59,391,000	+7.8%	1,462,102	+14.7%	1.52%	-14.5%
BL	Buy	BLACKLINE INC	$59,195,000	+49.7%	1,048,255	+15.2%	1.51%	+18.7%
DORM	Buy	DORMAN PRODUCTS INC	$57,199,000	+29.4%	743,623	+14.9%	1.46%	+2.5%
PLOW	Buy	DOUGLAS DYNAMICS INC	$55,950,000	+57.2%	1,274,489	+71.9%	1.43%	+24.6%
HSTM	Buy	HEALTHSTREAM INC	$54,988,000	+29.7%	1,773,237	+14.2%	1.40%	+2.8%
SPSC	Buy	SPS COMM INC	$50,315,000	+56.5%	507,006	+15.9%	1.28%	+24.1%
TYL	Buy	TYLER TECHNOLOGIES INC	$47,370,000	+21.4%	193,299	+10.0%	1.21%	-3.7%
NVEC	Buy	NVE CORP	$46,839,000	+0.7%	442,379	+15.8%	1.20%	-20.2%
NOVT	Buy	NOVANTA INC	$44,017,000	+94.7%	643,517	+77.3%	1.12%	+54.3%
MTDR	Buy	MATADOR RES CO	$39,324,000	+28.2%	1,189,821	+16.6%	1.00%	+1.7%
ROL	Buy	ROLLINS INC	$37,484,000	+25.1%	617,631	+8.4%	0.96%	-0.8%
WHG	Sell	WESTWOOD HLDGS GROUP INC	$33,275,000	-24.5%	643,129	-13.2%	0.85%	-40.2%
EGOV	Buy	NIC INC	$29,717,000	+10.6%	2,007,903	+16.2%	0.76%	-12.4%
NRC	Buy	NATIONAL RESH CORP	$22,196,000	+21.0%	575,019	+17.2%	0.57%	-4.2%
EVI	Buy	ENVIROSTAR INC	$20,058,000	+16.0%	514,975	+20.0%	0.51%	-8.1%
HEIA	Buy	HEICO CORP NEWcl a	$5,702,000	+51.5%	75,529	+22.3%	0.15%	+20.7%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$5,627,000	+33.2%	47,755	+15.9%	0.14%	+5.9%
CSGP	Buy	COSTAR GROUP INC	$5,373,000	+23.5%	12,767	+21.1%	0.14%	-2.1%
POOL	Buy	POOL CORPORATION	$5,145,000	+35.4%	30,828	+23.0%	0.13%	+7.4%
ANSS	Buy	ANSYS INC	$5,014,000	+21.5%	26,859	+13.4%	0.13%	-3.8%
GWRE	Buy	GUIDEWIRE SOFTWARE INC	$4,563,000	+32.4%	45,175	+16.4%	0.12%	+4.5%
CPRT	Buy	COPART INC	$4,477,000	+7.0%	86,882	+17.4%	0.11%	-15.6%
WST	Buy	WEST PHARMACEUTICAL SVSC INC	$4,150,000	+52.0%	33,608	+22.2%	0.11%	+20.5%
IDXX	Buy	IDEXX LABS INC	$4,120,000	+43.2%	16,501	+25.0%	0.10%	+12.9%
JKHY	Buy	HENRY JACK & ASSOC INC	$4,078,000	+43.6%	25,473	+16.9%	0.10%	+14.3%
ALGN	Sell	ALIGN TECHNOLOGY INC	$3,964,000	+11.2%	10,132	-2.8%	0.10%	-12.2%
ULTI	Buy	ULTIMATE SOFTWARE GROUP INC	$3,894,000	+47.1%	12,087	+17.5%	0.10%	+16.5%
WAB	Buy	WABTEC CORP	$3,875,000	+29.0%	36,948	+21.3%	0.10%	+2.1%
IT	Buy	GARTNER INC	$3,815,000	+52.3%	24,070	+27.7%	0.10%	+19.8%
WSO	Buy	WATSCO INC	$3,670,000	+28.3%	20,604	+28.4%	0.09%	+2.2%
GGG	Buy	GRACO INC	$3,549,000	+28.6%	76,581	+25.5%	0.09%	+2.2%
TFX	Buy	TELEFLEX INC	$3,133,000	+33.7%	11,773	+34.7%	0.08%	+6.7%
MTN	Buy	VAIL RESORTS INC	$2,783,000	+42.4%	10,140	+42.2%	0.07%	+12.7%
DCI	Buy	DONALDSON INC	$2,580,000	+55.6%	44,292	+20.5%	0.07%	+24.5%
CGNX	Buy	COGNEX CORP	$2,378,000	+52.2%	42,604	+21.7%	0.06%	+22.0%
AOS	Buy	SMITH A O	$2,335,000	+6.4%	43,755	+17.9%	0.06%	-15.5%
IPGP	Buy	IPG PHOTONICS CORP	$1,881,000	-17.1%	12,055	+17.2%	0.05%	-34.2%
CLB	Buy	CORE LABORATORIES N V	$1,874,000	+10.9%	16,182	+20.9%	0.05%	-11.1%
LCII	Buy	LCI INDS	$1,730,000	+43.7%	20,895	+56.4%	0.04%	+12.8%
PII	Sell	POLARIS INDS INC	$1,571,000	-36.3%	15,566	-22.9%	0.04%	-49.4%
INFO	Sell	IHS MARKIT LTD	$1,120,000	+4.6%	20,751	-0.0%	0.03%	-14.7%
MMM	Buy	3M CO	$1,088,000	+73.2%	5,164	+61.7%	0.03%	+40.0%
UFI	Sell	UNIFI INC	$950,000	-12.1%	33,540	-1.6%	0.02%	-31.4%
MKL	Sell	MARKEL CORP	$831,000	-66.5%	699	-69.5%	0.02%	-73.8%
MSFT	Sell	MICROSOFT CORP	$573,000	+14.1%	5,009	-1.6%	0.02%	-6.2%
INTC	Sell	INTEL CORP	$372,000	-23.5%	7,870	-19.4%	0.01%	-43.8%
GRMN	Sell	GARMIN LTD	$320,000	-48.6%	4,570	-55.2%	0.01%	-60.0%
ECL	New	ECOLAB INC	$223,000	–	1,420	–	0.01%	–
ISRG	New	INTUITIVE SURGICAL INC	$210,000	–	365	–	0.01%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,215	–	-0.01%	–
COTV	Exit	COTIVITI HLDGS INC	$0	–	-15,150	–	-0.02%	–

Q2 2018

			Value		Shares		↓ Weighting
LGND	New	LIGAND PHARMACEUTICALS INC	$103,977,000	–	501,894	–	3.35%	–
NEOG	New	NEOGEN CORP	$101,453,000	–	1,265,156	–	3.27%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$99,447,000	–	1,995,735	–	3.20%	–
OMCL	New	OMNICELL INC	$96,153,000	–	1,833,223	–	3.10%	–
EXPO	New	EXPONENT INC	$96,109,000	–	1,989,839	–	3.09%	–
DSGX	New	DESCARTES SYS GROUP INC	$94,923,000	–	2,920,720	–	3.06%	–
WAGE	New	WAGEWORKS INC	$92,139,000	–	1,842,771	–	2.97%	–
MLAB	New	MESA LABS INC	$90,495,000	–	428,722	–	2.91%	–
FOXF	New	FOX FACTORY HLDG CORP	$88,280,000	–	1,896,466	–	2.84%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$87,760,000	–	1,411,167	–	2.83%	–
TREX	New	TREX CO INC	$86,698,000	–	1,385,177	–	2.79%	–
STMP	New	STAMPS COM INC	$83,513,000	–	330,027	–	2.69%	–
RGEN	New	REPLIGEN CORP	$80,492,000	–	1,711,132	–	2.59%	–
BLKB	New	BLACKBAUD INC	$76,117,000	–	742,969	–	2.45%	–
LOPE	New	GRAND CANYON ED INC	$74,463,000	–	667,172	–	2.40%	–
PRO	New	PROS HOLDINGS INC	$72,795,000	–	1,990,571	–	2.34%	–
PRLB	New	PROTO LABS INC	$72,040,000	–	605,631	–	2.32%	–
BID	New	SOTHEBYS	$70,613,000	–	1,299,468	–	2.27%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$68,184,000	–	812,006	–	2.20%	–
CMD	New	CANTEL MEDICAL CORP	$67,935,000	–	690,673	–	2.19%	–
AAON	New	AAON INC	$65,974,000	–	1,984,189	–	2.12%	–
MGPI	New	MGP INGREDIENTS INC NEW	$65,528,000	–	737,843	–	2.11%	–
BCPC	New	BALCHEM CORP	$63,915,000	–	651,264	–	2.06%	–
SNHY	New	SUN HYDRAULICS CORP	$60,171,000	–	1,248,622	–	1.94%	–
MDSO	New	MEDIDATA SOLUTIONS INC	$59,947,000	–	744,131	–	1.93%	–
WDFC	New	WD-40 CO	$56,050,000	–	383,250	–	1.80%	–
HCSG	New	HEALTHCARE SVCS GRP INC	$55,078,000	–	1,275,257	–	1.77%	–
ESE	New	ESCO TECHNOLOGIES INC	$54,765,000	–	949,130	–	1.76%	–
ACIW	New	ACI WORLDWIDE INC	$54,349,000	–	2,203,022	–	1.75%	–
ROG	New	ROGERS CORP	$51,848,000	–	465,168	–	1.67%	–
LMAT	New	LEMAITRE VASCULAR INC	$46,624,000	–	1,392,591	–	1.50%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$46,628,000	–	1,559,970	–	1.50%	–
NVEC	New	NVE CORP	$46,510,000	–	381,922	–	1.50%	–
DORM	New	DORMAN PRODUCTS INC	$44,218,000	–	647,313	–	1.42%	–
WHG	New	WESTWOOD HLDGS GROUP INC	$44,102,000	–	740,708	–	1.42%	–
MRCY	New	MERCURY SYS INC	$43,032,000	–	1,130,640	–	1.38%	–
HSTM	New	HEALTHSTREAM INC	$42,395,000	–	1,552,374	–	1.36%	–
TECH	New	BIO TECHNE CORP	$40,297,000	–	272,367	–	1.30%	–
BL	New	BLACKLINE INC	$39,530,000	–	910,200	–	1.27%	–
TYL	New	TYLER TECHNOLOGIES INC	$39,022,000	–	175,694	–	1.26%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$38,474,000	–	432,780	–	1.24%	–
PLOW	New	DOUGLAS DYNAMICS INC	$35,591,000	–	741,485	–	1.15%	–
CHEF	New	CHEFS WHSE INC	$33,684,000	–	1,181,907	–	1.08%	–
SPSC	New	SPS COMM INC	$32,152,000	–	437,566	–	1.04%	–
MTDR	New	MATADOR RES CO	$30,671,000	–	1,020,669	–	0.99%	–
ROL	New	ROLLINS INC	$29,969,000	–	569,965	–	0.96%	–
EGOV	New	NIC INC	$26,874,000	–	1,728,243	–	0.86%	–
NOVT	New	NOVANTA INC	$22,610,000	–	362,920	–	0.73%	–
NRC	New	NATIONAL RESH CORP	$18,344,000	–	490,491	–	0.59%	–
EVI	New	ENVIROSTAR INC	$17,288,000	–	428,987	–	0.56%	–
CSGP	New	COSTAR GROUP INC	$4,350,000	–	10,542	–	0.14%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$4,224,000	–	41,205	–	0.14%	–
CPRT	New	COPART INC	$4,184,000	–	73,982	–	0.14%	–
ANSS	New	ANSYS INC	$4,126,000	–	23,688	–	0.13%	–
POOL	New	POOL CORPORATION	$3,799,000	–	25,073	–	0.12%	–
HEIA	New	HEICO CORP NEWcl a	$3,764,000	–	61,747	–	0.12%	–
ALGN	New	ALIGN TECHNOLOGY INC	$3,566,000	–	10,422	–	0.12%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$3,446,000	–	38,815	–	0.11%	–
WAB	New	WABTEC CORP	$3,003,000	–	30,463	–	0.10%	–
IDXX	New	IDEXX LABS INC	$2,878,000	–	13,206	–	0.09%	–
WSO	New	WATSCO INC	$2,860,000	–	16,044	–	0.09%	–
JKHY	New	HENRY JACK & ASSOC INC	$2,840,000	–	21,788	–	0.09%	–
GGG	New	GRACO INC	$2,759,000	–	61,016	–	0.09%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$2,730,000	–	27,498	–	0.09%	–
ULTI	New	ULTIMATE SOFTWARE GROUP INC	$2,647,000	–	10,287	–	0.08%	–
IT	New	GARTNER INC	$2,505,000	–	18,850	–	0.08%	–
MKL	New	MARKEL CORP	$2,483,000	–	2,290	–	0.08%	–
PII	New	POLARIS INDS INC	$2,466,000	–	20,186	–	0.08%	–
TFX	New	TELEFLEX INC	$2,344,000	–	8,738	–	0.08%	–
IPGP	New	IPG PHOTONICS CORP	$2,269,000	–	10,285	–	0.07%	–
AOS	New	SMITH A O	$2,195,000	–	37,105	–	0.07%	–
MTN	New	VAIL RESORTS INC	$1,955,000	–	7,130	–	0.06%	–
CLB	New	CORE LABORATORIES N V	$1,690,000	–	13,387	–	0.05%	–
DCI	New	DONALDSON INC	$1,658,000	–	36,742	–	0.05%	–
XOM	New	EXXON MOBIL CORP	$1,599,000	–	19,330	–	0.05%	–
CGNX	New	COGNEX CORP	$1,562,000	–	35,019	–	0.05%	–
LCII	New	LCI INDS	$1,204,000	–	13,360	–	0.04%	–
UFI	New	UNIFI INC	$1,081,000	–	34,090	–	0.04%	–
INFO	New	IHS MARKIT LTD	$1,071,000	–	20,752	–	0.03%	–
UNP	New	UNION PAC CORP	$803,000	–	5,665	–	0.03%	–
ABBV	New	ABBVIE INC	$735,000	–	7,935	–	0.02%	–
VRSK	New	VERISK ANALYTICS INC	$752,000	–	6,987	–	0.02%	–
COTV	New	COTIVITI HLDGS INC	$669,000	–	15,150	–	0.02%	–
FAST	New	FASTENAL CO	$691,000	–	14,359	–	0.02%	–
PFE	New	PFIZER INC	$658,000	–	18,135	–	0.02%	–
SJM	New	SMUCKER J M CO	$639,000	–	5,944	–	0.02%	–
MMM	New	3M CO	$628,000	–	3,194	–	0.02%	–
GRMN	New	GARMIN LTD	$623,000	–	10,208	–	0.02%	–
DWDP	New	DOWDUPONT INC	$577,000	–	8,753	–	0.02%	–
ABT	New	ABBOTT LABS	$563,000	–	9,223	–	0.02%	–
AAPL	New	APPLE INC	$515,000	–	2,780	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$540,000	–	7,055	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$509,000	–	2,435	–	0.02%	–
FTNT	New	FORTINET INC	$494,000	–	7,913	–	0.02%	–
INTC	New	INTEL CORP	$486,000	–	9,770	–	0.02%	–
MSFT	New	MICROSOFT CORP	$502,000	–	5,089	–	0.02%	–
PX	New	PRAXAIR INC	$467,000	–	2,955	–	0.02%	–
JNJ	New	JOHNSON & JOHNSON	$472,000	–	3,891	–	0.02%	–
FDS	New	FACTSET RESH SYS INC	$421,000	–	2,126	–	0.01%	–
KMB	New	KIMBERLY CLARK CORP	$448,000	–	4,250	–	0.01%	–
INTU	New	INTUIT	$449,000	–	2,200	–	0.01%	–
TRMB	New	TRIMBLE INC	$409,000	–	12,444	–	0.01%	–
CVX	New	CHEVRON CORP NEW	$414,000	–	3,274	–	0.01%	–
MRK	New	MERCK & CO INC	$419,000	–	6,900	–	0.01%	–
DLB	New	DOLBY LABORATORIES INC	$388,000	–	6,293	–	0.01%	–
MA	New	MASTERCARD INCORPORATEDcl a	$367,000	–	1,870	–	0.01%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$322,000	–	5,000	–	0.01%	–
HXL	New	HEXCEL CORP NEW	$320,000	–	4,818	–	0.01%	–
PG	New	PROCTER AND GAMBLE CO	$308,000	–	3,940	–	0.01%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$312,000	–	2,235	–	0.01%	–
JPM	New	JPMORGAN CHASE & CO	$318,000	–	3,051	–	0.01%	–
ADBE	New	ADOBE SYS INC	$324,000	–	1,330	–	0.01%	–
WPC	New	W P CAREY INC	$322,000	–	4,850	–	0.01%	–
NKE	New	NIKE INCcl b	$269,000	–	3,375	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$251,000	–	225	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$254,000	–	225	–	0.01%	–
AMGN	New	AMGEN INC	$246,000	–	1,330	–	0.01%	–
HD	New	HOME DEPOT INC	$254,000	–	1,300	–	0.01%	–
VZ	New	VERIZON COMMUNICATIONS INC	$252,000	–	5,012	–	0.01%	–
ABMD	New	ABIOMED INC	$245,000	–	600	–	0.01%	–
PNC	New	PNC FINL SVCS GROUP INC	$250,000	–	1,850	–	0.01%	–
SLB	New	SCHLUMBERGER LTD	$216,000	–	3,215	–	0.01%	–
UTX	New	UNITED TECHNOLOGIES CORP	$204,000	–	1,632	–	0.01%	–
DHR	New	DANAHER CORP DEL	$201,000	–	2,035	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
SLB	Exit	SCHLUMBERGER LTD	$0	–	-2,915	–	-0.01%	–
ACTA	Exit	ACTUA CORP	$0	–	-12,800	–	-0.01%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-3,795	–	-0.01%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-245	–	-0.01%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-1,560	–	-0.01%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-4,462	–	-0.01%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-5,000	–	-0.01%	–
PNC	Exit	PNC FINL SVCS GROUP INC	$0	–	-1,850	–	-0.01%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-255	–	-0.01%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.01%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-4,818	–	-0.01%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-2,941	–	-0.01%	–
FTNT	Exit	FORTINET INC	$0	–	-7,913	–	-0.01%	–
WPC	Exit	W P CAREY INC	$0	–	-4,550	–	-0.01%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-2,330	–	-0.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,305	–	-0.02%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-3,940	–	-0.02%	–
INTU	Exit	INTUIT	$0	–	-2,480	–	-0.02%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-6,293	–	-0.02%	–
INTC	Exit	INTEL CORP	$0	–	-9,970	–	-0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-3,274	–	-0.02%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,126	–	-0.02%	–
PX	Exit	PRAXAIR INC	$0	–	-2,895	–	-0.02%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-2,525	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-5,719	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-2,930	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-7,055	–	-0.02%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-3,891	–	-0.02%	–
ABT	Exit	ABBOTT LABS	$0	–	-9,223	–	-0.02%	–
MRK	Exit	MERCK & CO INC	$0	–	-7,600	–	-0.02%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.02%	–
TRMB	Exit	TRIMBLE INC	$0	–	-12,444	–	-0.02%	–
SJM	Exit	SMUCKER J M CO	$0	–	-4,894	–	-0.02%	–
GRMN	Exit	GARMIN LTD	$0	–	-10,208	–	-0.02%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-7,147	–	-0.03%	–
DWDP	Exit	DOWDUPONT INC	$0	–	-8,753	–	-0.03%	–
PFE	Exit	PFIZER INC	$0	–	-17,635	–	-0.03%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,665	–	-0.03%	–
FAST	Exit	FASTENAL CO	$0	–	-14,229	–	-0.03%	–
MMM	Exit	3M CO	$0	–	-3,194	–	-0.03%	–
ABBV	Exit	ABBVIE INC	$0	–	-7,935	–	-0.03%	–
CGNX	Exit	COGNEX CORP	$0	–	-7,027	–	-0.03%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-22,105	–	-0.04%	–
DCI	Exit	DONALDSON INC	$0	–	-24,467	–	-0.05%	–
UFI	Exit	UNIFI INC	$0	–	-39,733	–	-0.06%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-14,757	–	-0.06%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-19,330	–	-0.07%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-16,403	–	-0.08%	–
WSO	Exit	WATSCO INC	$0	–	-10,694	–	-0.08%	–
IDXX	Exit	IDEXX LABS INC	$0	–	-11,351	–	-0.08%	–
AOS	Exit	SMITH A O	$0	–	-31,465	–	-0.08%	–
PII	Exit	POLARIS INDS INC	$0	–	-19,634	–	-0.09%	–
ULTI	Exit	ULTIMATE SOFTWARE GROUP INC	$0	–	-11,267	–	-0.09%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-12,488	–	-0.10%	–
WAB	Exit	WABTEC CORP	$0	–	-31,726	–	-0.11%	–
TFX	Exit	TELEFLEX INC	$0	–	-10,208	–	-0.11%	–
POOL	Exit	POOL CORPORATION	$0	–	-22,713	–	-0.11%	–
MKL	Exit	MARKEL CORP	$0	–	-2,325	–	-0.11%	–
WST	Exit	WEST PHARMACEUTICAL SVSC INC	$0	–	-25,993	–	-0.11%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-34,840	–	-0.12%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-16,339	–	-0.14%	–
ANSS	Exit	ANSYS INC	$0	–	-25,208	–	-0.14%	–
CPRT	Exit	COPART INC	$0	–	-92,295	–	-0.14%	–
GGG	Exit	GRACO INC	$0	–	-26,179	–	-0.14%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-41,421	–	-0.16%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-48,174	–	-0.16%	–
IWO	Exit	ISHARES TRrus 2000 grw etf	$0	–	-30,800	–	-0.24%	–
NRCIB	Exit	NATIONAL RESH CORPcl b	$0	–	-213,285	–	-0.51%	–
NRC	Exit	NATIONAL RESH CORPcl a	$0	–	-421,931	–	-0.70%	–
SPSC	Exit	SPS COMM INC	$0	–	-353,666	–	-0.89%	–
BL	Exit	BLACKLINE INC	$0	–	-637,175	–	-0.96%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-81,264	–	-0.96%	–
PLOW	Exit	DOUGLAS DYNAMICS INC	$0	–	-567,400	–	-0.99%	–
NVEC	Exit	NVE CORP	$0	–	-291,694	–	-1.02%	–
MTDR	Exit	MATADOR RES CO	$0	–	-875,087	–	-1.05%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-157,945	–	-1.22%	–
JBT	Exit	JOHN BEAN TECHNOLOGIES CORP	$0	–	-275,140	–	-1.23%	–
VCRA	Exit	VOCERA COMMUNICATIONS INC	$0	–	-908,795	–	-1.26%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-246,582	–	-1.32%	–
LMAT	Exit	LEMAITRE VASCULAR INC	$0	–	-854,644	–	-1.42%	–
ROL	Exit	ROLLINS INC	$0	–	-740,524	–	-1.51%	–
EGOV	Exit	NIC INC	$0	–	-2,015,893	–	-1.53%	–
WDFC	Exit	WD-40 CO	$0	–	-312,775	–	-1.55%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-1,497,650	–	-1.55%	–
BID	Exit	SOTHEBYS	$0	–	-807,243	–	-1.65%	–
EXA	Exit	EXA CORP	$0	–	-1,555,697	–	-1.66%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-1,664,246	–	-1.78%	–
PRLB	Exit	PROTO LABS INC	$0	–	-506,674	–	-1.80%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-571,900	–	-1.81%	–
WHG	Exit	WESTWOOD HLDGS GROUP INC	$0	–	-626,856	–	-1.86%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-1,874,780	–	-1.89%	–
BCPC	Exit	BALCHEM CORP	$0	–	-533,894	–	-1.92%	–
ESE	Exit	ESCO TECHNOLOGIES INC	$0	–	-736,105	–	-1.95%	–
HCSG	Exit	HEALTHCARE SVCS GRP INC	$0	–	-912,722	–	-2.18%	–
MDSO	Exit	MEDIDATA SOLUTIONS INC	$0	–	-663,762	–	-2.29%	–
TREX	Exit	TREX CO INC	$0	–	-592,634	–	-2.36%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,686,819	–	-2.38%	–
MGPI	Exit	MGP INGREDIENTS INC NEW	$0	–	-896,389	–	-2.40%	–
STMP	Exit	STAMPS COM INC	$0	–	-268,849	–	-2.41%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-944,846	–	-2.43%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-608,355	–	-2.44%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-1,453,232	–	-2.46%	–
MLAB	Exit	MESA LABS INC	$0	–	-373,227	–	-2.46%	–
SNHY	Exit	SUN HYDRAULICS CORP	$0	–	-1,038,477	–	-2.48%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-657,814	–	-2.56%	–
AAON	Exit	AAON INC	$0	–	-1,704,008	–	-2.60%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-433,125	–	-2.61%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-1,203,520	–	-2.61%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-1,376,411	–	-2.62%	–
ROG	Exit	ROGERS CORP	$0	–	-451,983	–	-2.66%	–
EXPO	Exit	EXPONENT INC	$0	–	-854,790	–	-2.79%	–
WAGE	Exit	WAGEWORKS INC	$0	–	-1,067,886	–	-2.87%	–
DSGX	Exit	DESCARTES SYS GROUP INC	$0	–	-2,426,505	–	-2.94%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-737,054	–	-3.07%	–
NEOG	Exit	NEOGEN CORP	$0	–	-958,784	–	-3.28%	–
OMCL	Exit	OMNICELL INC	$0	–	-1,617,706	–	-3.65%	–

Q3 2017

			Value		Shares		↓ Weighting
OMCL	Buy	OMNICELL INC	$82,584,000	+19.3%	1,617,706	+0.7%	3.65%	+1.4%
NEOG	Buy	NEOGEN CORP	$74,267,000	+34.7%	958,784	+20.2%	3.28%	+14.5%
CMD	Buy	CANTEL MEDICAL CORP	$69,408,000	+22.5%	737,054	+1.4%	3.07%	+4.1%
DSGX	Buy	DESCARTES SYS GROUP INC	$66,365,000	+28.7%	2,426,505	+14.6%	2.94%	+9.4%
WAGE	Buy	WAGEWORKS INC	$64,821,000	+33.5%	1,067,886	+47.8%	2.87%	+13.5%
EXPO	Buy	EXPONENT INC	$63,169,000	+49.0%	854,790	+17.5%	2.79%	+26.7%
ROG	Buy	ROGERS CORP	$60,240,000	+73.2%	451,983	+41.2%	2.66%	+47.2%
FOXF	Sell	FOX FACTORY HLDG CORP	$59,323,000	+5.6%	1,376,411	-12.7%	2.62%	-10.2%
SSD	Buy	SIMPSON MANUFACTURING CO INC	$59,021,000	+26.8%	1,203,520	+13.1%	2.61%	+7.8%
LGND	Buy	LIGAND PHARMACEUTICALS INC	$58,970,000	+25.9%	433,125	+12.2%	2.61%	+7.0%
AAON	Buy	AAON INC	$58,746,000	+1.8%	1,704,008	+8.8%	2.60%	-13.5%
BLKB	Sell	BLACKBAUD INC	$57,756,000	-11.9%	657,814	-13.9%	2.56%	-25.1%
SNHY	Buy	SUN HYDRAULICS CORP	$56,078,000	+51.5%	1,038,477	+19.7%	2.48%	+28.8%
MLAB	Buy	MESA LABS INC	$55,730,000	+10.2%	373,227	+5.8%	2.46%	-6.3%
RGEN	Buy	REPLIGEN CORP	$55,688,000	+4.0%	1,453,232	+12.5%	2.46%	-11.6%
LOPE	Sell	GRAND CANYON ED INC	$55,251,000	+6.5%	608,355	-8.0%	2.44%	-9.4%
SITE	Buy	SITEONE LANDSCAPE SUPPLY INC	$54,896,000	+25.8%	944,846	+12.7%	2.43%	+6.9%
STMP	Sell	STAMPS COM INC	$54,482,000	+2.8%	268,849	-21.5%	2.41%	-12.6%
MGPI	Buy	MGP INGREDIENTS INC NEW	$54,348,000	+42.2%	896,389	+20.0%	2.40%	+20.9%
EPAY	Buy	BOTTOMLINE TECH DEL INC	$53,691,000	+37.1%	1,686,819	+10.6%	2.38%	+16.5%
TREX	Buy	TREX CO INC	$53,379,000	+52.3%	592,634	+14.4%	2.36%	+29.4%
MDSO	Buy	MEDIDATA SOLUTIONS INC	$51,813,000	+1.8%	663,762	+2.0%	2.29%	-13.5%
HCSG	Sell	HEALTHCARE SVCS GRP INC	$49,260,000	+8.5%	912,722	-5.9%	2.18%	-7.8%
ESE	Buy	ESCO TECHNOLOGIES INC	$44,129,000	+58.8%	736,105	+58.0%	1.95%	+35.0%
BCPC	Buy	BALCHEM CORP	$43,400,000	+56.0%	533,894	+49.1%	1.92%	+32.6%
ACIW	Buy	ACI WORLDWIDE INC	$42,707,000	+11.1%	1,874,780	+9.1%	1.89%	-5.6%
WHG	Buy	WESTWOOD HLDGS GROUP INC	$42,169,000	+33.4%	626,856	+12.4%	1.86%	+13.4%
DORM	Buy	DORMAN PRODUCTS INC	$40,959,000	+0.2%	571,900	+15.8%	1.81%	-14.8%
PRLB	Buy	PROTO LABS INC	$40,686,000	+34.8%	506,674	+12.9%	1.80%	+14.6%
PRO	Buy	PROS HOLDINGS INC	$40,158,000	-2.5%	1,664,246	+10.7%	1.78%	-17.1%
EXA	Sell	EXA CORP	$37,617,000	+71.7%	1,555,697	-2.0%	1.66%	+46.0%
BID	Buy	SOTHEBYS	$37,222,000	-3.8%	807,243	+12.0%	1.65%	-18.2%
HSTM	Buy	HEALTHSTREAM INC	$35,000,000	+1.5%	1,497,650	+14.3%	1.55%	-13.8%
WDFC	Buy	WD-40 CO	$35,000,000	+65.0%	312,775	+62.7%	1.55%	+40.2%
EGOV	Buy	NIC INC	$34,573,000	+7.3%	2,015,893	+18.5%	1.53%	-8.8%
ROL	Sell	ROLLINS INC	$34,168,000	-14.3%	740,524	-24.4%	1.51%	-27.2%
LMAT	Buy	LEMAITRE VASCULAR INC	$31,981,000	+81.3%	854,644	+51.2%	1.42%	+54.1%
TECH	Sell	BIO TECHNE CORP	$29,809,000	-7.0%	246,582	-9.6%	1.32%	-20.9%
VCRA	Buy	VOCERA COMMUNICATIONS INC	$28,509,000	+91.2%	908,795	+61.1%	1.26%	+62.5%
JBT	Buy	JOHN BEAN TECHNOLOGIES CORP	$27,817,000	+7.2%	275,140	+3.9%	1.23%	-8.9%
TYL	Sell	TYLER TECHNOLOGIES INC	$27,533,000	-28.5%	157,945	-27.9%	1.22%	-39.2%
MTDR	Sell	MATADOR RES CO	$23,759,000	-8.0%	875,087	-27.6%	1.05%	-21.8%
NVEC	Buy	NVE CORP	$23,035,000	+21.3%	291,694	+18.3%	1.02%	+3.1%
PLOW	New	DOUGLAS DYNAMICS INC	$22,356,000	–	567,400	–	0.99%	–
CSGP	Sell	COSTAR GROUP INC	$21,799,000	-27.1%	81,264	-28.4%	0.96%	-38.0%
BL	New	BLACKLINE INC	$21,740,000	–	637,175	–	0.96%	–
SPSC	Sell	SPS COMM INC	$20,056,000	-45.2%	353,666	-38.4%	0.89%	-53.4%
NRC	Buy	NATIONAL RESH CORPcl a	$15,907,000	+40.3%	421,931	+0.1%	0.70%	+19.3%
NRCIB	Sell	NATIONAL RESH CORPcl b	$11,532,000	+12.0%	213,285	-1.6%	0.51%	-4.9%
IWO	New	ISHARES TRrus 2000 grw etf	$5,512,000	–	30,800	–	0.24%	–
HEIA	Buy	HEICO CORP NEWcl a	$3,671,000	+54.8%	48,174	+26.1%	0.16%	+31.7%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$3,571,000	+67.4%	41,421	+49.9%	0.16%	+42.3%
GGG	Buy	GRACO INC	$3,238,000	+40.7%	26,179	+24.3%	0.14%	+19.2%
CPRT	Buy	COPART INC	$3,172,000	+35.3%	92,295	+25.2%	0.14%	+14.8%
ANSS	Buy	ANSYS INC	$3,094,000	+7.6%	25,208	+6.7%	0.14%	-8.7%
ALGN	Sell	ALIGN TECHNOLOGY INC	$3,043,000	-90.3%	16,339	-92.1%	0.14%	-91.7%
GWRE	Buy	GUIDEWIRE SOFTWARE INC	$2,713,000	+46.0%	34,840	+28.9%	0.12%	+23.7%
WST	Buy	WEST PHARMACEUTICAL SVSC INC	$2,502,000	+124.8%	25,993	+120.7%	0.11%	+91.4%
MKL	Buy	MARKEL CORP	$2,483,000	+31.6%	2,325	+20.2%	0.11%	+12.2%
POOL	Buy	POOL CORPORATION	$2,457,000	+175.8%	22,713	+199.8%	0.11%	+137.0%
TFX	Buy	TELEFLEX INC	$2,470,000	+58.5%	10,208	+36.1%	0.11%	+34.6%
WAB	Buy	WABTEC CORP	$2,403,000	+3.0%	31,726	+24.5%	0.11%	-12.4%
IPGP	Sell	IPG PHOTONICS CORP	$2,311,000	+24.4%	12,488	-2.4%	0.10%	+5.2%
ULTI	Buy	ULTIMATE SOFTWARE GROUP INC	$2,136,000	+79.9%	11,267	+99.4%	0.09%	+51.6%
PII	Buy	POLARIS INDS INC	$2,054,000	+38.8%	19,634	+22.4%	0.09%	+18.2%
AOS	Buy	SMITH A O	$1,870,000	+34.1%	31,465	+27.1%	0.08%	+13.7%
IDXX	Buy	IDEXX LABS INC	$1,765,000	+105.2%	11,351	+113.2%	0.08%	+73.3%
WSO	New	WATSCO INC	$1,722,000	–	10,694	–	0.08%	–
JKHY	Buy	HENRY JACK & ASSOC INC	$1,686,000	+147.9%	16,403	+150.4%	0.08%	+114.3%
CLB	Buy	CORE LABORATORIES N V	$1,456,000	+22.6%	14,757	+25.8%	0.06%	+3.2%
UFI	Sell	UNIFI INC	$1,416,000	+14.3%	39,733	-1.2%	0.06%	-1.6%
DCI	Buy	DONALDSON INC	$1,124,000	+24.2%	24,467	+23.1%	0.05%	+6.4%
INFO	Sell	IHS MARKIT LTD	$974,000	-47.7%	22,105	-47.8%	0.04%	-55.7%
CGNX	Buy	COGNEX CORP	$775,000	+72.2%	7,027	+32.6%	0.03%	+47.8%
DWDP	New	DOWDUPONT INC	$606,000	–	8,753	–	0.03%	–
MRK	Sell	MERCK & CO INC	$487,000	-5.1%	7,600	-5.0%	0.02%	-18.5%
TRMB	Sell	TRIMBLE INC	$488,000	+9.4%	12,444	-0.6%	0.02%	-4.3%
FDS	Sell	FACTSET RESH SYS INC	$383,000	+5.5%	2,126	-2.7%	0.02%	-10.5%
DLB	Sell	DOLBY LABORATORIES INC	$362,000	+16.0%	6,293	-1.1%	0.02%	0.0%
MA	Sell	MASTERCARD INCORPORATEDcl a	$329,000	+15.4%	2,330	-0.9%	0.02%	0.0%
JPM	Sell	JPMORGAN CHASE & CO	$281,000	-7.9%	2,941	-12.0%	0.01%	-25.0%
VZ	New	VERIZON COMMUNICATIONS INC	$221,000	–	4,462	–	0.01%	–
ACTA	Sell	ACTUA CORP	$196,000	-2.5%	12,800	-10.5%	0.01%	-10.0%
SLB	New	SCHLUMBERGER LTD	$203,000	–	2,915	–	0.01%	–
ECL	Exit	ECOLAB INC	$0	–	-1,550	–	-0.01%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-7,954	–	-0.01%	–
DOW	Exit	DOW CHEM CO	$0	–	-4,100	–	-0.01%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-3,630	–	-0.02%	–
GNTX	Exit	GENTEX CORP	$0	–	-16,257	–	-0.02%	–
MINI	Exit	MOBILE MINI INC	$0	–	-673,515	–	-1.05%	–

Q2 2017

			Value		Shares		↓ Weighting
OMCL	New	OMNICELL INC	$69,245,000	–	1,606,601	–	3.60%	–
BLKB	New	BLACKBAUD INC	$65,528,000	–	764,172	–	3.41%	–
AAON	New	AAON INC	$57,719,000	–	1,566,317	–	3.00%	–
CMD	New	CANTEL MEDICAL CORP	$56,644,000	–	727,046	–	2.95%	–
FOXF	New	FOX FACTORY HLDG CORP	$56,160,000	–	1,577,516	–	2.92%	–
NEOG	New	NEOGEN CORP	$55,123,000	–	797,614	–	2.87%	–
RGEN	New	REPLIGEN CORP	$53,532,000	–	1,291,805	–	2.79%	–
STMP	New	STAMPS COM INC	$53,021,000	–	342,347	–	2.76%	–
LOPE	New	GRAND CANYON ED INC	$51,858,000	–	661,370	–	2.70%	–
DSGX	New	DESCARTES SYS GROUP INC	$51,575,000	–	2,118,060	–	2.68%	–
MDSO	New	MEDIDATA SOLUTIONS INC	$50,904,000	–	650,941	–	2.65%	–
MLAB	New	MESA LABS INC	$50,551,000	–	352,738	–	2.63%	–
WAGE	New	WAGEWORKS INC	$48,560,000	–	722,614	–	2.53%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$46,844,000	–	385,869	–	2.44%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$46,532,000	–	1,064,560	–	2.42%	–
HCSG	New	HEALTHCARE SVCS GRP INC	$45,399,000	–	969,453	–	2.36%	–
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$43,638,000	–	838,229	–	2.27%	–
EXPO	New	EXPONENT INC	$42,394,000	–	727,177	–	2.21%	–
PRO	New	PROS HOLDINGS INC	$41,185,000	–	1,503,661	–	2.14%	–
DORM	New	DORMAN PRODUCTS INC	$40,875,000	–	493,840	–	2.13%	–
ROL	New	ROLLINS INC	$39,879,000	–	979,583	–	2.08%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$39,175,000	–	1,524,919	–	2.04%	–
BID	New	SOTHEBYS	$38,678,000	–	720,668	–	2.01%	–
TYL	New	TYLER TECHNOLOGIES INC	$38,509,000	–	219,213	–	2.00%	–
ACIW	New	ACI WORLDWIDE INC	$38,428,000	–	1,717,821	–	2.00%	–
MGPI	New	MGP INGREDIENTS INC NEW	$38,212,000	–	746,764	–	1.99%	–
SNHY	New	SUN HYDRAULICS CORP	$37,014,000	–	867,459	–	1.93%	–
SPSC	New	SPS COMM INC	$36,611,000	–	574,201	–	1.90%	–
TREX	New	TREX CO INC	$35,047,000	–	517,986	–	1.82%	–
ROG	New	ROGERS CORP	$34,773,000	–	320,130	–	1.81%	–
HSTM	New	HEALTHSTREAM INC	$34,498,000	–	1,310,702	–	1.80%	–
EGOV	New	NIC INC	$32,234,000	–	1,700,988	–	1.68%	–
TECH	New	BIO TECHNE CORP	$32,057,000	–	272,828	–	1.67%	–
WHG	New	WESTWOOD HLDGS GROUP INC	$31,604,000	–	557,486	–	1.64%	–
ALGN	New	ALIGN TECHNOLOGY INC	$31,233,000	–	208,051	–	1.62%	–
PRLB	New	PROTO LABS INC	$30,183,000	–	448,818	–	1.57%	–
CSGP	New	COSTAR GROUP INC	$29,898,000	–	113,420	–	1.56%	–
BCPC	New	BALCHEM CORP	$27,824,000	–	358,044	–	1.45%	–
ESE	New	ESCO TECHNOLOGIES INC	$27,784,000	–	465,779	–	1.45%	–
JBT	New	JOHN BEAN TECHNOLOGIES CORP	$25,950,000	–	264,791	–	1.35%	–
MTDR	New	MATADOR RES CO	$25,824,000	–	1,208,420	–	1.34%	–
EXA	New	EXA CORP	$21,903,000	–	1,587,200	–	1.14%	–
WDFC	New	WD-40 CO	$21,209,000	–	192,200	–	1.10%	–
MINI	New	MOBILE MINI INC	$20,104,000	–	673,515	–	1.05%	–
NVEC	New	NVE CORP	$18,986,000	–	246,577	–	0.99%	–
LMAT	New	LEMAITRE VASCULAR INC	$17,641,000	–	565,069	–	0.92%	–
VCRA	New	VOCERA COMMUNICATIONS INC	$14,907,000	–	564,250	–	0.78%	–
NRC	New	NATIONAL RESH CORPcl a	$11,336,000	–	421,415	–	0.59%	–
NRCIB	New	NATIONAL RESH CORPcl b	$10,294,000	–	216,810	–	0.54%	–
ANSS	New	ANSYS INC	$2,876,000	–	23,634	–	0.15%	–
HEIA	New	HEICO CORP NEWcl a	$2,371,000	–	38,206	–	0.12%	–
CPRT	New	COPART INC	$2,344,000	–	73,747	–	0.12%	–
WAB	New	WABTEC CORP	$2,332,000	–	25,488	–	0.12%	–
GGG	New	GRACO INC	$2,301,000	–	21,053	–	0.12%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$2,133,000	–	27,630	–	0.11%	–
MKL	New	MARKEL CORP	$1,887,000	–	1,934	–	0.10%	–
IPGP	New	IPG PHOTONICS CORP	$1,857,000	–	12,800	–	0.10%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$1,858,000	–	27,035	–	0.10%	–
INFO	New	IHS MARKIT LTD	$1,864,000	–	42,330	–	0.10%	–
TFX	New	TELEFLEX INC	$1,558,000	–	7,500	–	0.08%	–
XOM	New	EXXON MOBIL CORP	$1,561,000	–	19,330	–	0.08%	–
PII	New	POLARIS INDS INC	$1,480,000	–	16,046	–	0.08%	–
AOS	New	SMITH A O	$1,395,000	–	24,765	–	0.07%	–
UFI	New	UNIFI INC	$1,239,000	–	40,233	–	0.06%	–
ULTI	New	ULTIMATE SOFTWARE GROUP INC	$1,187,000	–	5,650	–	0.06%	–
CLB	New	CORE LABORATORIES N V	$1,188,000	–	11,728	–	0.06%	–
WST	New	WEST PHARMACEUTICAL SVSC INC	$1,113,000	–	11,775	–	0.06%	–
DCI	New	DONALDSON INC	$905,000	–	19,876	–	0.05%	–
POOL	New	POOL CORPORATION	$891,000	–	7,575	–	0.05%	–
IDXX	New	IDEXX LABS INC	$860,000	–	5,325	–	0.04%	–
MMM	New	3M CO	$665,000	–	3,194	–	0.04%	–
JKHY	New	HENRY JACK & ASSOC INC	$680,000	–	6,550	–	0.04%	–
FAST	New	FASTENAL CO	$619,000	–	14,229	–	0.03%	–
UNP	New	UNION PAC CORP	$617,000	–	5,665	–	0.03%	–
PFE	New	PFIZER INC	$592,000	–	17,635	–	0.03%	–
VRSK	New	VERISK ANALYTICS INC	$603,000	–	7,147	–	0.03%	–
SJM	New	SMUCKER J M CO	$579,000	–	4,894	–	0.03%	–
ABBV	New	ABBVIE INC	$575,000	–	7,935	–	0.03%	–
KMB	New	KIMBERLY CLARK CORP	$549,000	–	4,250	–	0.03%	–
GRMN	New	GARMIN LTD	$521,000	–	10,208	–	0.03%	–
MRK	New	MERCK & CO INC	$513,000	–	8,000	–	0.03%	–
JNJ	New	JOHNSON & JOHNSON	$515,000	–	3,891	–	0.03%	–
TRMB	New	TRIMBLE INC	$446,000	–	12,514	–	0.02%	–
ABT	New	ABBOTT LABS	$448,000	–	9,223	–	0.02%	–
CGNX	New	COGNEX CORP	$450,000	–	5,300	–	0.02%	–
AAPL	New	APPLE INC	$422,000	–	2,930	–	0.02%	–
MSFT	New	MICROSOFT CORP	$394,000	–	5,719	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$404,000	–	2,525	–	0.02%	–
PX	New	PRAXAIR INC	$384,000	–	2,895	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$382,000	–	7,055	–	0.02%	–
FDS	New	FACTSET RESH SYS INC	$363,000	–	2,186	–	0.02%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$355,000	–	2,305	–	0.02%	–
PG	New	PROCTER AND GAMBLE CO	$343,000	–	3,940	–	0.02%	–
CVX	New	CHEVRON CORP NEW	$342,000	–	3,274	–	0.02%	–
INTU	New	INTUIT	$329,000	–	2,480	–	0.02%	–
INTC	New	INTEL CORP	$336,000	–	9,970	–	0.02%	–
DLB	New	DOLBY LABORATORIES INC	$312,000	–	6,363	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$305,000	–	3,341	–	0.02%	–
GNTX	New	GENTEX CORP	$308,000	–	16,257	–	0.02%	–
WPC	New	W P CAREY INC	$300,000	–	4,550	–	0.02%	–
DD	New	DU PONT E I DE NEMOURS & CO	$293,000	–	3,630	–	0.02%	–
FTNT	New	FORTINET INC	$296,000	–	7,913	–	0.02%	–
MA	New	MASTERCARD INCORPORATEDcl a	$285,000	–	2,350	–	0.02%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$273,000	–	5,000	–	0.01%	–
DOW	New	DOW CHEM CO	$259,000	–	4,100	–	0.01%	–
XRAY	New	DENTSPLY SIRONA INC	$246,000	–	3,795	–	0.01%	–
HXL	New	HEXCEL CORP NEW	$254,000	–	4,818	–	0.01%	–
PNC	New	PNC FINL SVCS GROUP INC	$231,000	–	1,850	–	0.01%	–
ADBE	New	ADOBE SYS INC	$221,000	–	1,560	–	0.01%	–
AMGN	New	AMGEN INC	$229,000	–	1,330	–	0.01%	–
GOOG	New	ALPHABET INCcap stk cl c	$223,000	–	245	–	0.01%	–
GOOGL	New	ALPHABET INCcap stk cl a	$237,000	–	255	–	0.01%	–
ECL	New	ECOLAB INC	$206,000	–	1,550	–	0.01%	–
GE	New	GENERAL ELECTRIC CO	$215,000	–	7,954	–	0.01%	–
ACTA	New	ACTUA CORP	$201,000	–	14,300	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
NKE	Exit	NIKE INCcl b	$0	–	-3,950	–	-0.01%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-4,698	–	-0.01%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-4,062	–	-0.01%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-2,030	–	-0.02%	–
DOW	Exit	DOW CHEM CO	$0	–	-4,100	–	-0.02%	–
AMGN	Exit	AMGEN INC	$0	–	-1,330	–	-0.02%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-2,795	–	-0.02%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-2,860	–	-0.02%	–
XRAY	Exit	DENTSPLY SIRONA INC	$0	–	-3,695	–	-0.02%	–
ACTA	Exit	ACTUA CORP	$0	–	-16,600	–	-0.02%	–
GOOG	Exit	ALPHABET INCcap stk cl c	$0	–	-295	–	-0.02%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,810	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-7,954	–	-0.02%	–
POOL	Exit	POOL CORPORATION	$0	–	-2,500	–	-0.02%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-3,630	–	-0.02%	–
ECL	Exit	ECOLAB INC	$0	–	-1,990	–	-0.02%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-305	–	-0.02%	–
GNTX	Exit	GENTEX CORP	$0	–	-16,287	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,341	–	-0.02%	–
FTNT	Exit	FORTINET INC	$0	–	-7,733	–	-0.02%	–
PX	Exit	PRAXAIR INC	$0	–	-2,505	–	-0.02%	–
MA	Exit	MASTERCARD INCORPORATEDcl a	$0	–	-2,975	–	-0.02%	–
INTU	Exit	INTUIT	$0	–	-2,915	–	-0.02%	–
TFX	Exit	TELEFLEX INC	$0	–	-1,950	–	-0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-3,274	–	-0.02%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-4,000	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-5,165	–	-0.02%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-3,940	–	-0.02%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,186	–	-0.02%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,305	–	-0.02%	–
ULTI	Exit	ULTIMATE SOFTWARE GROUP INC	$0	–	-1,755	–	-0.02%	–
ABT	Exit	ABBOTT LABS	$0	–	-8,940	–	-0.03%	–
TRMB	Exit	TRIMBLE NAVIGATION LTD	$0	–	-13,324	–	-0.03%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-6,794	–	-0.03%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-7,268	–	-0.03%	–
AAPL	Exit	APPLE INC	$0	–	-3,520	–	-0.03%	–
DCI	Exit	DONALDSON INC	$0	–	-10,871	–	-0.03%	–
INTC	Exit	INTEL CORP	$0	–	-11,780	–	-0.03%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-3,025	–	-0.03%	–
GRMN	Exit	GARMIN LTD	$0	–	-10,078	–	-0.03%	–
ABBV	Exit	ABBVIE INC	$0	–	-7,935	–	-0.03%	–
MRK	Exit	MERCK & CO INC	$0	–	-8,000	–	-0.03%	–
BCR	Exit	BARD C R INC	$0	–	-2,261	–	-0.04%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-4,351	–	-0.04%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-8,560	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.04%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-6,605	–	-0.04%	–
UNP	Exit	UNION PAC CORP	$0	–	-5,665	–	-0.04%	–
MMM	Exit	3M CO	$0	–	-3,194	–	-0.04%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-5,288	–	-0.04%	–
PFE	Exit	PFIZER INC	$0	–	-17,835	–	-0.04%	–
AOS	Exit	SMITH A O	$0	–	-6,355	–	-0.04%	–
FAST	Exit	FASTENAL CO	$0	–	-15,009	–	-0.04%	–
PII	Exit	POLARIS INDS INC	$0	–	-8,346	–	-0.04%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-7,987	–	-0.04%	–
BFAM	Exit	BRIGHT HORIZONS FAM SOL IN D	$0	–	-10,055	–	-0.05%	–
SJM	Exit	SMUCKER J M CO	$0	–	-5,154	–	-0.05%	–
GGG	Exit	GRACO INC	$0	–	-9,743	–	-0.05%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-12,799	–	-0.05%	–
CPRT	Exit	COPART INC	$0	–	-16,611	–	-0.06%	–
WAB	Exit	WABTEC CORP	$0	–	-11,223	–	-0.06%	–
MKL	Exit	MARKEL CORP	$0	–	-1,314	–	-0.08%	–
ANSS	Exit	ANSYS INC	$0	–	-13,234	–	-0.08%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-34,733	–	-0.09%	–
UFI	Exit	UNIFI INC	$0	–	-49,483	–	-0.10%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-19,780	–	-0.12%	–
NRC	Exit	NATIONAL RESH CORPcl a	$0	–	-404,840	–	-0.45%	–
NRCIB	Exit	NATIONAL RESH CORPcl b	$0	–	-204,652	–	-0.49%	–
IRMD	Exit	IRADIMED CORP	$0	–	-572,885	–	-0.67%	–
BID	Exit	SOTHEBYS	$0	–	-386,945	–	-1.01%	–
NVEC	Exit	NVE CORP	$0	–	-277,316	–	-1.12%	–
SITE	Exit	SITEONE LANDSCAPE SUPPLY INC	$0	–	-499,605	–	-1.23%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-170,744	–	-1.28%	–
MINI	Exit	MOBILE MINI INC	$0	–	-650,373	–	-1.35%	–
FLTX	Exit	FLEETMATICS GROUP PLC	$0	–	-348,908	–	-1.43%	–
PGND	Exit	PRESS GANEY HLDGS INC	$0	–	-524,369	–	-1.45%	–
EXA	Exit	EXA CORP	$0	–	-1,371,202	–	-1.51%	–
FOXF	Exit	FOX FACTORY HLDG CORP	$0	–	-967,685	–	-1.52%	–
MGPI	Exit	MGP INGREDIENTS INC NEW	$0	–	-562,347	–	-1.56%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-106,506	–	-1.58%	–
ROG	Exit	ROGERS CORP	$0	–	-380,940	–	-1.60%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-582,383	–	-1.61%	–
ABAX	Exit	ABAXIS INC	$0	–	-473,302	–	-1.67%	–
SNHY	Exit	SUN HYDRAULICS CORP	$0	–	-772,073	–	-1.71%	–
WHG	Exit	WESTWOOD HLDGS GROUP INC	$0	–	-489,271	–	-1.78%	–
MDSO	Exit	MEDIDATA SOLUTIONS INC	$0	–	-483,890	–	-1.85%	–
MTDR	Exit	MATADOR RES CO	$0	–	-1,134,978	–	-1.89%	–
ROL	Exit	ROLLINS INC	$0	–	-944,537	–	-1.90%	–
WAGE	Exit	WAGEWORKS INC	$0	–	-469,650	–	-1.96%	–
BCPC	Exit	BALCHEM CORP	$0	–	-376,973	–	-2.00%	–
EXPO	Exit	EXPONENT INC	$0	–	-582,852	–	-2.04%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-322,435	–	-2.07%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-1,562,533	–	-2.08%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-1,367,151	–	-2.12%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,374,405	–	-2.20%	–
PRLB	Exit	PROTO LABS INC	$0	–	-536,946	–	-2.20%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-1,094,805	–	-2.26%	–
HCSG	Exit	HEALTHCARE SVCS GRP INC	$0	–	-843,526	–	-2.29%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-339,467	–	-2.37%	–
TREX	Exit	TREX CO INC	$0	–	-594,738	–	-2.39%	–
EGOV	Exit	NIC INC	$0	–	-1,515,620	–	-2.44%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-208,343	–	-2.44%	–
STMP	Exit	STAMPS COM INC	$0	–	-379,304	–	-2.46%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-1,327,530	–	-2.51%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-575,463	–	-2.52%	–
MLAB	Exit	MESA LABS INC	$0	–	-362,059	–	-2.84%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-962,245	–	-2.90%	–
AAON	Exit	AAON INC	$0	–	-1,478,609	–	-2.92%	–
VASC	Exit	VASCULAR SOLUTIONS INC	$0	–	-912,176	–	-3.02%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-700,131	–	-3.18%	–
SPSC	Exit	SPS COMM INC	$0	–	-647,128	–	-3.26%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-622,550	–	-3.33%	–
NEOG	Exit	NEOGEN CORP	$0	–	-877,779	–	-3.36%	–
OMCL	Exit	OMNICELL INC	$0	–	-1,510,059	–	-3.96%	–

Q3 2016

			Value		Shares		↓ Weighting
OMCL	Buy	OMNICELL INC	$57,835,000	+14.6%	1,510,059	+2.5%	3.96%	+6.4%
NEOG	Buy	NEOGEN CORP	$49,103,000	+11.7%	877,779	+12.3%	3.36%	+3.6%
CMD	Buy	CANTEL MEDICAL CORP	$48,546,000	+16.1%	622,550	+2.4%	3.33%	+7.7%
SPSC	Sell	SPS COMM INC	$47,506,000	+7.8%	647,128	-11.0%	3.26%	-0.0%
BLKB	Buy	BLACKBAUD INC	$46,447,000	+3.7%	700,131	+6.1%	3.18%	-3.8%
VASC	Sell	VASCULAR SOLUTIONS INC	$43,994,000	-0.4%	912,176	-14.0%	3.02%	-7.6%
AAON	Buy	AAON INC	$42,614,000	+10.9%	1,478,609	+5.9%	2.92%	+2.9%
SSD	Buy	SIMPSON MANUFACTURING CO INC	$42,291,000	+17.5%	962,245	+6.9%	2.90%	+9.0%
MLAB	Buy	MESA LABS INC	$41,405,000	-3.9%	362,059	+3.3%	2.84%	-10.9%
DORM	Sell	DORMAN PRODUCTS INC	$36,772,000	-5.0%	575,463	-15.0%	2.52%	-11.9%
HSTM	Buy	HEALTHSTREAM INC	$36,640,000	+8.5%	1,327,530	+4.2%	2.51%	+0.6%
STMP	Buy	STAMPS COM INC	$35,848,000	+11.5%	379,304	+3.1%	2.46%	+3.4%
TYL	Sell	TYLER TECHNOLOGIES INC	$35,675,000	-12.4%	208,343	-14.7%	2.44%	-18.7%
EGOV	Buy	NIC INC	$35,617,000	+11.3%	1,515,620	+3.9%	2.44%	+3.3%
TREX	Buy	TREX CO INC	$34,923,000	+33.5%	594,738	+2.2%	2.39%	+23.9%
LGND	Buy	LIGAND PHARMACEUTICALS INC	$34,646,000	-7.6%	339,467	+8.0%	2.37%	-14.3%
HCSG	Buy	HEALTHCARE SVCS GRP INC	$33,387,000	+2.4%	843,526	+7.0%	2.29%	-5.1%
RGEN	Buy	REPLIGEN CORP	$33,052,000	+14.2%	1,094,805	+3.5%	2.26%	+5.9%
PRLB	Buy	PROTO LABS INC	$32,168,000	+6.5%	536,946	+2.4%	2.20%	-1.2%
EPAY	Buy	BOTTOMLINE TECH DEL INC	$32,037,000	+15.9%	1,374,405	+7.1%	2.20%	+7.5%
PRO	Buy	PROS HOLDINGS INC	$30,911,000	+32.7%	1,367,151	+2.3%	2.12%	+23.0%
ACIW	Buy	ACI WORLDWIDE INC	$30,282,000	+5.4%	1,562,533	+6.1%	2.08%	-2.2%
ALGN	Sell	ALIGN TECHNOLOGY INC	$30,228,000	-6.3%	322,435	-19.5%	2.07%	-13.1%
EXPO	Buy	EXPONENT INC	$29,760,000	-7.1%	582,852	+6.2%	2.04%	-13.9%
BCPC	Buy	BALCHEM CORP	$29,227,000	+33.2%	376,973	+2.5%	2.00%	+23.6%
WAGE	Buy	WAGEWORKS INC	$28,606,000	+6.8%	469,650	+4.9%	1.96%	-0.9%
ROL	Buy	ROLLINS INC	$27,656,000	+2.1%	944,537	+2.0%	1.90%	-5.3%
MTDR	Buy	MATADOR RES CO	$27,625,000	+25.7%	1,134,978	+2.2%	1.89%	+16.6%
MDSO	Buy	MEDIDATA SOLUTIONS INC	$26,982,000	+29.5%	483,890	+8.9%	1.85%	+20.1%
WHG	Buy	WESTWOOD HLDGS GROUP INC	$25,985,000	+5.3%	489,271	+2.7%	1.78%	-2.3%
SNHY	Buy	SUN HYDRAULICS CORP	$24,915,000	+11.2%	772,073	+2.3%	1.71%	+3.1%
ABAX	Buy	ABAXIS INC	$24,432,000	+20.5%	473,302	+10.3%	1.67%	+11.8%
LOPE	Buy	GRAND CANYON ED INC	$23,522,000	+4.1%	582,383	+2.9%	1.61%	-3.5%
ROG	Buy	ROGERS CORP	$23,268,000	+0.1%	380,940	+0.2%	1.60%	-7.1%
CSGP	Sell	COSTAR GROUP INC	$23,062,000	-25.5%	106,506	-24.8%	1.58%	-30.9%
MGPI	Buy	MGP INGREDIENTS INC NEW	$22,786,000	+51.1%	562,347	+42.5%	1.56%	+40.2%
FOXF	Buy	FOX FACTORY HLDG CORP	$22,228,000	+116.8%	967,685	+63.9%	1.52%	+100.9%
EXA	Buy	EXA CORP	$22,008,000	+15.8%	1,371,202	+4.2%	1.51%	+7.4%
PGND	Buy	PRESS GANEY HLDGS INC	$21,185,000	+3.3%	524,369	+0.6%	1.45%	-4.2%
FLTX	Sell	FLEETMATICS GROUP PLC	$20,928,000	-30.8%	348,908	-50.0%	1.43%	-35.9%
MINI	Buy	MOBILE MINI INC	$19,641,000	-10.7%	650,373	+2.4%	1.35%	-17.2%
TECH	Buy	BIO TECHNE CORP	$18,696,000	+7.5%	170,744	+10.7%	1.28%	-0.3%
SITE	New	SITEONE LANDSCAPE SUPPLY INC	$17,951,000	–	499,605	–	1.23%	–
NVEC	Buy	NVE CORP	$16,345,000	+4.4%	277,316	+3.9%	1.12%	-3.2%
BID	Buy	SOTHEBYS	$14,712,000	+46.6%	386,945	+5.6%	1.01%	+36.0%
IRMD	Buy	IRADIMED CORP	$9,733,000	+55.4%	572,885	+99.0%	0.67%	+44.1%
NRCIB	Sell	NATIONAL RESH CORPcl b	$7,204,000	-32.9%	204,652	-36.7%	0.49%	-37.7%
NRC	Sell	NATIONAL RESH CORPcl a	$6,595,000	+17.9%	404,840	-0.8%	0.45%	+9.4%
UFI	Sell	UNIFI INC	$1,456,000	+7.4%	49,483	-0.6%	0.10%	0.0%
INFO	New	IHS MARKIT LTD	$1,304,000	–	34,733	–	0.09%	–
CPRT	Sell	COPART INC	$890,000	0.0%	16,611	-8.5%	0.06%	-7.6%
HEIA	Buy	HEICO CORP NEWcl a	$774,000	+23.1%	12,799	+9.2%	0.05%	+15.2%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$673,000	+9.1%	10,055	+8.1%	0.05%	0.0%
PII	Buy	POLARIS INDS INC	$646,000	+0.8%	8,346	+6.4%	0.04%	-6.4%
FAST	Buy	FASTENAL CO	$627,000	-3.7%	15,009	+2.4%	0.04%	-10.4%
GWRE	Buy	GUIDEWIRE SOFTWARE INC	$513,000	+21.9%	8,560	+25.7%	0.04%	+12.9%
INTC	Sell	INTEL CORP	$445,000	+10.4%	11,780	-4.1%	0.03%	0.0%
AAPL	Sell	APPLE INC	$398,000	+15.0%	3,520	-2.8%	0.03%	+3.8%
TSCO	Buy	TRACTOR SUPPLY CO	$348,000	+9.1%	5,165	+47.8%	0.02%	0.0%
INTU	Sell	INTUIT	$321,000	-2.1%	2,915	-0.9%	0.02%	-8.3%
TFX	Buy	TELEFLEX INC	$328,000	+27.6%	1,950	+34.5%	0.02%	+15.8%
GNTX	Sell	GENTEX CORP	$286,000	-34.9%	16,287	-42.7%	0.02%	-37.5%
POOL	New	POOL CORPORATION	$236,000	–	2,500	–	0.02%	–
HD	Sell	HOME DEPOT INC	$233,000	-0.4%	1,810	-1.4%	0.02%	-5.9%
ACTA	Sell	ACTUA CORP	$215,000	+32.7%	16,600	-7.3%	0.02%	+25.0%
ADBE	New	ADOBE SYS INC	$220,000	–	2,030	–	0.02%	–
HXL	New	HEXCEL CORP NEW	$208,000	–	4,698	–	0.01%	–
CHRW	Exit	C H ROBINSON WORLDWIDE INC	$0	–	-2,780	–	-0.02%	–
SPOK	Exit	SPOK HLDGS INC	$0	–	-10,700	–	-0.02%	–
MYGN	Exit	MYRIAD GENETICS INC	$0	–	-6,939	–	-0.02%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-3,096	–	-0.02%	–
EMC	Exit	E M C CORP MASS	$0	–	-9,225	–	-0.02%	–
IHS	Exit	IHS INCcl a	$0	–	-9,809	–	-0.08%	–
RUBI	Exit	RUBICON PROJ INC	$0	–	-934,580	–	-0.94%	–

Q2 2016

			Value		Shares		↓ Weighting
OMCL	New	OMNICELL INC	$50,446,000	–	1,473,734	–	3.73%	–
BLKB	New	BLACKBAUD INC	$44,791,000	–	659,661	–	3.31%	–
VASC	New	VASCULAR SOLUTIONS INC	$44,164,000	–	1,060,111	–	3.26%	–
SPSC	New	SPS COMM INC	$44,081,000	–	727,403	–	3.26%	–
NEOG	New	NEOGEN CORP	$43,959,000	–	781,486	–	3.25%	–
MLAB	New	MESA LABS INC	$43,106,000	–	350,454	–	3.18%	–
CMD	New	CANTEL MEDICAL CORP	$41,800,000	–	608,180	–	3.09%	–
TYL	New	TYLER TECHNOLOGIES INC	$40,729,000	–	244,313	–	3.01%	–
DORM	New	DORMAN PRODUCTS INC	$38,708,000	–	676,718	–	2.86%	–
AAON	New	AAON INC	$38,409,000	–	1,396,169	–	2.84%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$37,480,000	–	314,247	–	2.77%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$35,990,000	–	900,420	–	2.66%	–
HSTM	New	HEALTHSTREAM INC	$33,776,000	–	1,273,610	–	2.50%	–
HCSG	New	HEALTHCARE SVCS GRP INC	$32,618,000	–	788,261	–	2.41%	–
ALGN	New	ALIGN TECHNOLOGY INC	$32,270,000	–	400,620	–	2.38%	–
STMP	New	STAMPS COM INC	$32,163,000	–	367,914	–	2.38%	–
EXPO	New	EXPONENT INC	$32,045,000	–	548,617	–	2.37%	–
EGOV	New	NIC INC	$31,998,000	–	1,458,425	–	2.36%	–
CSGP	New	COSTAR GROUP INC	$30,953,000	–	141,556	–	2.29%	–
FLTX	New	FLEETMATICS GROUP PLC	$30,259,000	–	698,328	–	2.24%	–
PRLB	New	PROTO LABS INC	$30,195,000	–	524,581	–	2.23%	–
RGEN	New	REPLIGEN CORP	$28,936,000	–	1,057,588	–	2.14%	–
ACIW	New	ACI WORLDWIDE INC	$28,719,000	–	1,472,028	–	2.12%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$27,638,000	–	1,283,685	–	2.04%	–
ROL	New	ROLLINS INC	$27,094,000	–	925,651	–	2.00%	–
WAGE	New	WAGEWORKS INC	$26,774,000	–	447,645	–	1.98%	–
TREX	New	TREX CO INC	$26,151,000	–	582,168	–	1.93%	–
WHG	New	WESTWOOD HLDGS GROUP INC	$24,673,000	–	476,306	–	1.82%	–
PRO	New	PROS HOLDINGS INC	$23,301,000	–	1,336,861	–	1.72%	–
ROG	New	ROGERS CORP	$23,238,000	–	380,335	–	1.72%	–
LOPE	New	GRAND CANYON ED INC	$22,601,000	–	566,149	–	1.67%	–
SNHY	New	SUN HYDRAULICS CORP	$22,403,000	–	754,565	–	1.66%	–
MINI	New	MOBILE MINI INC	$21,996,000	–	634,988	–	1.62%	–
MTDR	New	MATADOR RES CO	$21,981,000	–	1,110,168	–	1.62%	–
BCPC	New	BALCHEM CORP	$21,940,000	–	367,808	–	1.62%	–
MDSO	New	MEDIDATA SOLUTIONS INC	$20,829,000	–	444,410	–	1.54%	–
PGND	New	PRESS GANEY HLDGS INC	$20,503,000	–	521,044	–	1.52%	–
ABAX	New	ABAXIS INC	$20,268,000	–	429,127	–	1.50%	–
EXA	New	EXA CORP	$19,008,000	–	1,315,443	–	1.40%	–
TECH	New	BIO TECHNE CORP	$17,395,000	–	154,249	–	1.28%	–
NVEC	New	NVE CORP	$15,661,000	–	267,027	–	1.16%	–
MGPI	New	MGP INGREDIENTS INC NEW	$15,082,000	–	394,515	–	1.11%	–
RUBI	New	RUBICON PROJ INC	$12,757,000	–	934,580	–	0.94%	–
NRCIB	New	NATIONAL RESH CORPcl b	$10,729,000	–	323,266	–	0.79%	–
FOXF	New	FOX FACTORY HLDG CORP	$10,254,000	–	590,310	–	0.76%	–
BID	New	SOTHEBYS	$10,036,000	–	366,290	–	0.74%	–
IRMD	New	IRADIMED CORP	$6,263,000	–	287,835	–	0.46%	–
NRC	New	NATIONAL RESH CORPcl a	$5,593,000	–	408,280	–	0.41%	–
XOM	New	EXXON MOBIL CORP	$1,854,000	–	19,780	–	0.14%	–
UFI	New	UNIFI INC	$1,356,000	–	49,783	–	0.10%	–
MKL	New	MARKEL CORP	$1,252,000	–	1,314	–	0.09%	–
ANSS	New	ANSYS INC	$1,201,000	–	13,234	–	0.09%	–
IHS	New	IHS INCcl a	$1,134,000	–	9,809	–	0.08%	–
CPRT	New	COPART INC	$890,000	–	18,151	–	0.07%	–
WAB	New	WABTEC CORP	$788,000	–	11,223	–	0.06%	–
SJM	New	SMUCKER J M CO	$786,000	–	5,154	–	0.06%	–
GGG	New	GRACO INC	$770,000	–	9,743	–	0.06%	–
VRSK	New	VERISK ANALYTICS INC	$648,000	–	7,987	–	0.05%	–
FAST	New	FASTENAL CO	$651,000	–	14,659	–	0.05%	–
CLB	New	CORE LABORATORIES N V	$655,000	–	5,288	–	0.05%	–
PII	New	POLARIS INDS INC	$641,000	–	7,846	–	0.05%	–
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$617,000	–	9,305	–	0.05%	–
HEIA	New	HEICO CORP NEWcl a	$629,000	–	11,724	–	0.05%	–
PFE	New	PFIZER INC	$628,000	–	17,835	–	0.05%	–
KMB	New	KIMBERLY CLARK CORP	$584,000	–	4,250	–	0.04%	–
MMM	New	3M CO	$559,000	–	3,194	–	0.04%	–
AOS	New	SMITH A O	$560,000	–	6,355	–	0.04%	–
JNJ	New	JOHNSON & JOHNSON	$528,000	–	4,351	–	0.04%	–
IPGP	New	IPG PHOTONICS CORP	$528,000	–	6,605	–	0.04%	–
BCR	New	BARD C R INC	$532,000	–	2,261	–	0.04%	–
UNP	New	UNION PAC CORP	$494,000	–	5,665	–	0.04%	–
ABBV	New	ABBVIE INC	$491,000	–	7,935	–	0.04%	–
COST	New	COSTCO WHSL CORP NEW	$475,000	–	3,025	–	0.04%	–
MRK	New	MERCK & CO INC	$461,000	–	8,000	–	0.03%	–
GRMN	New	GARMIN LTD	$428,000	–	10,078	–	0.03%	–
GNTX	New	GENTEX CORP	$439,000	–	28,412	–	0.03%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$421,000	–	6,810	–	0.03%	–
INTC	New	INTEL CORP	$403,000	–	12,280	–	0.03%	–
DCI	New	DONALDSON INC	$374,000	–	10,871	–	0.03%	–
ULTI	New	ULTIMATE SOFTWARE GROUP INC	$369,000	–	1,755	–	0.03%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$350,000	–	2,305	–	0.03%	–
MSFT	New	MICROSOFT CORP	$348,000	–	6,794	–	0.03%	–
DLB	New	DOLBY LABORATORIES INC	$348,000	–	7,268	–	0.03%	–
ABT	New	ABBOTT LABS	$351,000	–	8,940	–	0.03%	–
FDS	New	FACTSET RESH SYS INC	$353,000	–	2,186	–	0.03%	–
AAPL	New	APPLE INC	$346,000	–	3,620	–	0.03%	–
PG	New	PROCTER & GAMBLE CO	$334,000	–	3,940	–	0.02%	–
CVX	New	CHEVRON CORP NEW	$343,000	–	3,274	–	0.02%	–
TRMB	New	TRIMBLE NAVIGATION LTD	$325,000	–	13,324	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$319,000	–	3,495	–	0.02%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$319,000	–	4,000	–	0.02%	–
INTU	New	INTUIT	$328,000	–	2,940	–	0.02%	–
PX	New	PRAXAIR INC	$282,000	–	2,505	–	0.02%	–
DHR	New	DANAHER CORP DEL	$289,000	–	2,860	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$270,000	–	4,341	–	0.02%	–
TFX	New	TELEFLEX INC	$257,000	–	1,450	–	0.02%	–
EMC	New	E M C CORP MASS	$251,000	–	9,225	–	0.02%	–
MA	New	MASTERCARD INCcl a	$262,000	–	2,975	–	0.02%	–
FTNT	New	FORTINET INC	$244,000	–	7,733	–	0.02%	–
GE	New	GENERAL ELECTRIC CO	$250,000	–	7,954	–	0.02%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$228,000	–	3,096	–	0.02%	–
VZ	New	VERIZON COMMUNICATIONS INC	$227,000	–	4,062	–	0.02%	–
HD	New	HOME DEPOT INC	$234,000	–	1,835	–	0.02%	–
ECL	New	ECOLAB INC	$236,000	–	1,990	–	0.02%	–
XRAY	New	DENTSPLY SIRONA INC	$229,000	–	3,695	–	0.02%	–
DD	New	DU PONT E I DE NEMOURS & CO	$235,000	–	3,630	–	0.02%	–
MYGN	New	MYRIAD GENETICS INC	$212,000	–	6,939	–	0.02%	–
SLB	New	SCHLUMBERGER LTD	$221,000	–	2,795	–	0.02%	–
GOOGL	New	ALPHABET INCcap stk cl a	$215,000	–	305	–	0.02%	–
NKE	New	NIKE INCcl b	$218,000	–	3,950	–	0.02%	–
CHRW	New	C H ROBINSON WORLDWIDE INC	$206,000	–	2,780	–	0.02%	–
AMGN	New	AMGEN INC	$202,000	–	1,330	–	0.02%	–
DOW	New	DOW CHEM CO	$204,000	–	4,100	–	0.02%	–
SPOK	New	SPOK HLDGS INC	$205,000	–	10,700	–	0.02%	–
GOOG	New	ALPHABET INCcap stk cl c	$204,000	–	295	–	0.02%	–
ACTA	New	ACTUA CORP	$162,000	–	17,900	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
STRM	Exit	STREAMLINE HEALTH SOLUTIONS	$0	–	-11,100	–	-0.00%	–
HXL	Exit	HEXCEL CORP NEW	$0	–	-4,580	–	-0.02%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-3,900	–	-0.02%	–
HD	Exit	HOME DEPOT INC	$0	–	-1,835	–	-0.02%	–
SPOK	Exit	SPOK HLDGS INC	$0	–	-12,700	–	-0.02%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-2,668	–	-0.02%	–
AMGN	Exit	AMGEN INC	$0	–	-1,530	–	-0.02%	–
EMC	Exit	E M C CORP MASS	$0	–	-9,325	–	-0.02%	–
IART	Exit	INTEGRA LIFESCIENCES HLDGS C	$0	–	-4,000	–	-0.02%	–
ECL	Exit	ECOLAB INC	$0	–	-2,170	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-9,254	–	-0.02%	–
QLIK	Exit	QLIK TECHNOLOGIES INC	$0	–	-6,920	–	-0.02%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,035	–	-0.02%	–
TRMB	Exit	TRIMBLE NAVIGATION LTD	$0	–	-15,540	–	-0.02%	–
INTU	Exit	INTUIT	$0	–	-2,970	–	-0.02%	–
PX	Exit	PRAXAIR INC	$0	–	-2,560	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,341	–	-0.02%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-3,030	–	-0.02%	–
SIRO	Exit	SIRONA DENTAL SYSTEMS INC	$0	–	-2,820	–	-0.02%	–
ACTA	Exit	ACTUA CORP	$0	–	-23,000	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-6,854	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-3,560	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-2,765	–	-0.02%	–
SM	Exit	SM ENERGY CO	$0	–	-9,695	–	-0.02%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-3,874	–	-0.02%	–
GRMN	Exit	GARMIN LTD	$0	–	-8,940	–	-0.03%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-9,820	–	-0.03%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-4,690	–	-0.03%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-3,795	–	-0.03%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,210	–	-0.03%	–
ABT	Exit	ABBOTT LABS	$0	–	-8,940	–	-0.03%	–
UAA	Exit	UNDER ARMOUR INCcl a	$0	–	-3,830	–	-0.03%	–
INTC	Exit	INTEL CORP	$0	–	-12,350	–	-0.03%	–
AOS	Exit	SMITH A O	$0	–	-5,695	–	-0.03%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,720	–	-0.03%	–
SJM	Exit	SMUCKER J M CO	$0	–	-3,630	–	-0.03%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-8,500	–	-0.03%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-4,479	–	-0.03%	–
BCR	Exit	BARD C R INC	$0	–	-2,345	–	-0.04%	–
MMM	Exit	3M CO	$0	–	-3,194	–	-0.04%	–
FTNT	Exit	FORTINET INC	$0	–	-10,600	–	-0.04%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-3,125	–	-0.04%	–
MYGN	Exit	MYRIAD GENETICS INC	$0	–	-12,450	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.04%	–
DCI	Exit	DONALDSON INC	$0	–	-17,315	–	-0.04%	–
ABBV	Exit	ABBVIE INC	$0	–	-8,940	–	-0.04%	–
HEIA	Exit	HEICO CORP NEWcl a	$0	–	-10,765	–	-0.04%	–
FAST	Exit	FASTENAL CO	$0	–	-14,140	–	-0.04%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-5,415	–	-0.04%	–
UNP	Exit	UNION PAC CORP	$0	–	-6,400	–	-0.04%	–
PFE	Exit	PFIZER INC	$0	–	-17,835	–	-0.04%	–
CPRT	Exit	COPART INC	$0	–	-18,270	–	-0.05%	–
WAB	Exit	WABTEC CORP	$0	–	-7,135	–	-0.05%	–
GNTX	Exit	GENTEX CORP	$0	–	-40,755	–	-0.05%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-8,805	–	-0.05%	–
GGG	Exit	GRACO INC	$0	–	-9,797	–	-0.05%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-9,215	–	-0.06%	–
PII	Exit	POLARIS INDS INC	$0	–	-7,820	–	-0.08%	–
ANSS	Exit	ANSYS INC	$0	–	-11,126	–	-0.08%	–
MKL	Exit	MARKEL CORP	$0	–	-1,565	–	-0.10%	–
IHS	Exit	IHS INCcl a	$0	–	-12,270	–	-0.11%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-19,780	–	-0.12%	–
UFI	Exit	UNIFI INC	$0	–	-66,572	–	-0.16%	–
SQI	Exit	SCIQUEST INC NEW	$0	–	-734,618	–	-0.59%	–
EXPO	Exit	EXPONENT INC	$0	–	-179,770	–	-0.64%	–
RAVN	Exit	RAVEN INDS INC	$0	–	-552,653	–	-0.75%	–
NRC	Exit	NATIONAL RESH CORPcl a	$0	–	-816,067	–	-0.78%	–
ABAX	Exit	ABAXIS INC	$0	–	-225,934	–	-0.80%	–
HIBB	Exit	HIBBETT SPORTS INC	$0	–	-306,135	–	-0.86%	–
EXA	Exit	EXA CORP	$0	–	-1,124,187	–	-0.93%	–
NRCIB	Exit	NATIONAL RESH CORPcl b	$0	–	-384,005	–	-1.02%	–
MORN	Exit	MORNINGSTAR INC	$0	–	-161,441	–	-1.04%	–
NVEC	Exit	NVE CORP	$0	–	-287,776	–	-1.12%	–
TECH	Exit	BIO TECHNE CORP	$0	–	-158,369	–	-1.17%	–
TREX	Exit	TREX CO INC	$0	–	-539,340	–	-1.44%	–
ROG	Exit	ROGERS CORP	$0	–	-339,255	–	-1.45%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-664,775	–	-1.48%	–
MDSO	Exit	MEDIDATA SOLUTIONS INC	$0	–	-462,055	–	-1.56%	–
MINI	Exit	MOBILE MINI INC	$0	–	-676,640	–	-1.67%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-593,062	–	-1.81%	–
VASC	Exit	VASCULAR SOLUTIONS INC	$0	–	-718,496	–	-1.87%	–
MTDR	Exit	MATADOR RES CO	$0	–	-1,130,724	–	-1.88%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-1,140,900	–	-2.00%	–
SNHY	Exit	SUN HYDRAULICS CORP	$0	–	-949,883	–	-2.09%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-308,750	–	-2.12%	–
WHG	Exit	WESTWOOD HLDGS GROUP INC	$0	–	-494,241	–	-2.15%	–
EGOV	Exit	NIC INC	$0	–	-1,541,000	–	-2.19%	–
HCSG	Exit	HEALTHCARE SVCS GRP INC	$0	–	-811,635	–	-2.19%	–
ROL	Exit	ROLLINS INC	$0	–	-1,018,662	–	-2.19%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-496,282	–	-2.26%	–
ABCO	Exit	ADVISORY BRD CO	$0	–	-655,045	–	-2.39%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-174,673	–	-2.42%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-912,507	–	-2.45%	–
BCPC	Exit	BALCHEM CORP	$0	–	-538,375	–	-2.62%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,370,600	–	-2.75%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-1,573,174	–	-2.79%	–
FLTX	Exit	FLEETMATICS GROUP PLC	$0	–	-728,750	–	-2.87%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-707,374	–	-2.88%	–
PRLB	Exit	PROTO LABS INC	$0	–	-542,002	–	-2.91%	–
NEOG	Exit	NEOGEN CORP	$0	–	-818,033	–	-2.95%	–
MLAB	Exit	MESA LABS INC	$0	–	-331,975	–	-2.96%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-1,756,211	–	-2.97%	–
AAON	Exit	AAON INC	$0	–	-2,002,977	–	-3.11%	–
STMP	Exit	STAMPS COM INC	$0	–	-554,421	–	-3.29%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-750,218	–	-3.38%	–
SPSC	Exit	SPS COMM INC	$0	–	-625,462	–	-3.40%	–
OMCL	Exit	OMNICELL INC	$0	–	-1,400,146	–	-3.49%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-306,083	–	-3.66%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-949,165	–	-4.31%	–

Q3 2015

			Value		Shares		↓ Weighting
CMD	Sell	CANTEL MEDICAL CORP	$53,818,000	+2.3%	949,165	-3.2%	4.31%	+18.2%
TYL	Sell	TYLER TECHNOLOGIES INC	$45,701,000	+12.6%	306,083	-2.4%	3.66%	+30.0%
OMCL	Sell	OMNICELL INC	$43,545,000	-19.4%	1,400,146	-2.3%	3.49%	-7.0%
SPSC	Sell	SPS COMM INC	$42,463,000	+2.0%	625,462	-1.1%	3.40%	+17.9%
BLKB	Sell	BLACKBAUD INC	$42,102,000	-4.1%	750,218	-2.7%	3.38%	+10.7%
STMP	Sell	STAMPS COM INC	$41,033,000	-22.3%	554,421	-22.8%	3.29%	-10.3%
AAON	Sell	AAON INC	$38,818,000	-16.0%	2,002,977	-2.4%	3.11%	-3.1%
ACIW	Sell	ACI WORLDWIDE INC	$37,091,000	-16.1%	1,756,211	-2.4%	2.97%	-3.1%
MLAB	Sell	MESA LABS INC	$36,982,000	+22.2%	331,975	-2.5%	2.96%	+41.1%
NEOG	Sell	NEOGEN CORP	$36,803,000	-29.3%	818,033	-25.4%	2.95%	-18.4%
PRLB	Sell	PROTO LABS INC	$36,314,000	-3.2%	542,002	-2.5%	2.91%	+11.8%
DORM	Sell	DORMAN PRODUCTS INC	$35,998,000	+4.0%	707,374	-2.6%	2.88%	+20.1%
FLTX	Sell	FLEETMATICS GROUP PLC	$35,774,000	+2.0%	728,750	-2.7%	2.87%	+17.8%
PRO	Sell	PROS HOLDINGS INC	$34,830,000	+2.3%	1,573,174	-2.5%	2.79%	+18.1%
EPAY	Sell	BOTTOMLINE TECH DEL INC	$34,279,000	-12.3%	1,370,600	-2.5%	2.75%	+1.3%
BCPC	Sell	BALCHEM CORP	$32,717,000	+6.3%	538,375	-2.6%	2.62%	+22.7%
SSD	Sell	SIMPSON MANUFACTURING CO INC	$30,560,000	-4.0%	912,507	-2.6%	2.45%	+10.8%
CSGP	Sell	COSTAR GROUP INC	$30,229,000	-16.2%	174,673	-2.6%	2.42%	-3.3%
ABCO	Sell	ADVISORY BRD CO	$29,831,000	-18.8%	655,045	-2.6%	2.39%	-6.3%
ALGN	Sell	ALIGN TECHNOLOGY INC	$28,169,000	-12.5%	496,282	-3.3%	2.26%	+1.0%
ROL	Sell	ROLLINS INC	$27,371,000	-8.3%	1,018,662	-2.7%	2.19%	+5.8%
HCSG	Sell	HEALTHCARE SVCS GRP INC	$27,352,000	-0.7%	811,635	-2.6%	2.19%	+14.6%
EGOV	Sell	NIC INC	$27,291,000	-5.5%	1,541,000	-2.5%	2.19%	+9.1%
WHG	Sell	WESTWOOD HLDGS GROUP INC	$26,862,000	-11.1%	494,241	-2.6%	2.15%	+2.7%
LGND	Sell	LIGAND PHARMACEUTICALS INC	$26,444,000	-18.1%	308,750	-3.6%	2.12%	-5.4%
SNHY	Sell	SUN HYDRAULICS CORP	$26,093,000	-29.8%	949,883	-2.6%	2.09%	-18.9%
HSTM	Sell	HEALTHSTREAM INC	$24,883,000	-30.2%	1,140,900	-2.7%	2.00%	-19.4%
MTDR	Sell	MATADOR RES CO	$23,451,000	-19.1%	1,130,724	-2.5%	1.88%	-6.6%
VASC	Sell	VASCULAR SOLUTIONS INC	$23,286,000	-8.4%	718,496	-1.9%	1.87%	+5.7%
LOPE	Sell	GRAND CANYON ED INC	$22,530,000	-12.8%	593,062	-2.7%	1.81%	+0.7%
MINI	Sell	MOBILE MINI INC	$20,834,000	-28.6%	676,640	-2.6%	1.67%	-17.6%
MDSO	Sell	MEDIDATA SOLUTIONS INC	$19,457,000	-24.6%	462,055	-2.7%	1.56%	-12.9%
RGEN	Sell	REPLIGEN CORP	$18,514,000	-34.4%	664,775	-2.8%	1.48%	-24.2%
ROG	Sell	ROGERS CORP	$18,042,000	-20.4%	339,255	-0.9%	1.45%	-8.0%
TREX	New	TREX CO INC	$17,976,000	–	539,340	–	1.44%	–
TECH	Sell	BIO TECHNE CORP	$14,643,000	-8.3%	158,369	-2.3%	1.17%	+6.0%
NVEC	Sell	NVE CORP	$13,969,000	-44.4%	287,776	-10.2%	1.12%	-35.8%
MORN	Sell	MORNINGSTAR INC	$12,957,000	-2.0%	161,441	-2.9%	1.04%	+13.2%
NRCIB	Sell	NATIONAL RESH CORPcl b	$12,672,000	-1.1%	384,005	-1.1%	1.02%	+14.2%
EXA	Sell	EXA CORP	$11,613,000	-11.1%	1,124,187	-4.0%	0.93%	+2.6%
HIBB	Sell	HIBBETT SPORTS INC	$10,718,000	-31.4%	306,135	-8.8%	0.86%	-20.8%
ABAX	Sell	ABAXIS INC	$9,939,000	-16.7%	225,934	-2.6%	0.80%	-3.9%
NRC	Sell	NATIONAL RESH CORPcl a	$9,744,000	-25.9%	816,067	-11.9%	0.78%	-14.5%
RAVN	Sell	RAVEN INDS INC	$9,367,000	-54.2%	552,653	-45.1%	0.75%	-47.1%
EXPO	New	EXPONENT INC	$8,011,000	–	179,770	–	0.64%	–
SQI	Sell	SCIQUEST INC NEW	$7,346,000	-61.2%	734,618	-42.5%	0.59%	-55.2%
UFI	Sell	UNIFI INC	$1,985,000	-16.0%	66,572	-5.7%	0.16%	-3.0%
IHS	Buy	IHS INCcl a	$1,423,000	-3.1%	12,270	+7.4%	0.11%	+11.8%
MKL	Buy	MARKEL CORP	$1,255,000	+1.8%	1,565	+1.6%	0.10%	+17.4%
ANSS	Buy	ANSYS INC	$981,000	+5.4%	11,126	+9.1%	0.08%	+21.5%
PII	Buy	POLARIS INDS INC	$937,000	-17.0%	7,820	+2.6%	0.08%	-3.8%
IPGP	Buy	IPG PHOTONICS CORP	$700,000	-9.8%	9,215	+1.1%	0.06%	+3.7%
GGG	Buy	GRACO INC	$657,000	-4.1%	9,797	+1.6%	0.05%	+10.4%
GNTX	Buy	GENTEX CORP	$632,000	-3.8%	40,755	+1.9%	0.05%	+10.9%
WAB	Buy	WABTEC CORP	$628,000	-2.8%	7,135	+4.0%	0.05%	+11.1%
CPRT	Buy	COPART INC	$601,000	-5.7%	18,270	+1.8%	0.05%	+9.1%
CLB	Buy	CORE LABORATORIES N V	$540,000	-11.3%	5,415	+1.4%	0.04%	+2.4%
FAST	Buy	FASTENAL CO	$518,000	-6.5%	14,140	+7.6%	0.04%	+10.5%
DCI	Buy	DONALDSON INC	$486,000	-20.1%	17,315	+1.9%	0.04%	-7.1%
AOS	Buy	SMITH A O	$371,000	-4.9%	5,695	+5.1%	0.03%	+11.1%
SM	Buy	SM ENERGY CO	$311,000	-30.3%	9,695	+0.3%	0.02%	-19.4%
TRMB	Sell	TRIMBLE NAVIGATION LTD	$255,000	-32.2%	15,540	-3.0%	0.02%	-23.1%
STRM	Sell	STREAMLINE HEALTH SOLUTIONS	$25,000	-24.2%	11,100	-5.1%	0.00%	0.0%
HNSN	Exit	HANSEN MEDICAL INC	$0	–	-11,000	–	-0.00%	–
BMY	Exit	BRISTOL MYERS SQUIBB CO	$0	–	-3,096	–	-0.01%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-2,350	–	-0.01%	–
DOW	Exit	DOW CHEM CO	$0	–	-4,100	–	-0.02%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-3,630	–	-0.02%	–
ETP	Exit	ENERGY TRANSFER PRTNRS L Punit ltd partn	$0	–	-4,464	–	-0.02%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-6,795	–	-0.02%	–
ADVS	Exit	ADVENT SOFTWARE INC	$0	–	-234,589	–	-0.72%	–
FARO	Exit	FARO TECHNOLOGIES INC	$0	–	-491,211	–	-1.59%	–

Q2 2015

			Value		Shares		↓ Weighting
OMCL	New	OMNICELL INC	$54,047,000	–	1,433,217	–	3.75%	–
STMP	New	STAMPS COM INC	$52,813,000	–	717,857	–	3.67%	–
CMD	New	CANTEL MEDICAL CORP	$52,600,000	–	980,056	–	3.65%	–
NEOG	New	NEOGEN CORP	$52,053,000	–	1,097,234	–	3.61%	–
AAON	New	AAON INC	$46,235,000	–	2,053,058	–	3.21%	–
ACIW	New	ACI WORLDWIDE INC	$44,216,000	–	1,799,601	–	3.07%	–
BLKB	New	BLACKBAUD INC	$43,905,000	–	770,948	–	3.05%	–
SPSC	New	SPS COMM INC	$41,610,000	–	632,369	–	2.89%	–
TYL	New	TYLER TECHNOLOGIES INC	$40,595,000	–	313,765	–	2.82%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$39,079,000	–	1,405,218	–	2.71%	–
PRLB	New	PROTO LABS INC	$37,512,000	–	555,905	–	2.60%	–
SNHY	New	SUN HYDRAULICS CORP	$37,158,000	–	975,023	–	2.58%	–
ABCO	New	ADVISORY BRD CO	$36,755,000	–	672,299	–	2.55%	–
CSGP	New	COSTAR GROUP INC	$36,091,000	–	179,324	–	2.50%	–
HSTM	New	HEALTHSTREAM INC	$35,669,000	–	1,172,545	–	2.48%	–
FLTX	New	FLEETMATICS GROUP PLC	$35,059,000	–	748,638	–	2.43%	–
DORM	New	DORMAN PRODUCTS INC	$34,602,000	–	726,020	–	2.40%	–
PRO	New	PROS HOLDINGS INC	$34,052,000	–	1,613,060	–	2.36%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$32,302,000	–	320,141	–	2.24%	–
ALGN	New	ALIGN TECHNOLOGY INC	$32,193,000	–	513,366	–	2.24%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$31,847,000	–	936,689	–	2.21%	–
BCPC	New	BALCHEM CORP	$30,786,000	–	552,520	–	2.14%	–
MLAB	New	MESA LABS INC	$30,265,000	–	340,437	–	2.10%	–
WHG	New	WESTWOOD HLDGS GROUP INC	$30,215,000	–	507,222	–	2.10%	–
ROL	New	ROLLINS INC	$29,861,000	–	1,046,659	–	2.07%	–
MINI	New	MOBILE MINI INC	$29,192,000	–	694,380	–	2.03%	–
MTDR	New	MATADOR RES CO	$28,984,000	–	1,159,354	–	2.01%	–
EGOV	New	NIC INC	$28,878,000	–	1,579,784	–	2.00%	–
RGEN	New	REPLIGEN CORP	$28,227,000	–	683,968	–	1.96%	–
HCSG	New	HEALTHCARE SVCS GRP INC	$27,538,000	–	833,209	–	1.91%	–
LOPE	New	GRAND CANYON ED INC	$25,841,000	–	609,448	–	1.79%	–
MDSO	New	MEDIDATA SOLUTIONS INC	$25,804,000	–	475,031	–	1.79%	–
VASC	New	VASCULAR SOLUTIONS INC	$25,425,000	–	732,295	–	1.76%	–
NVEC	New	NVE CORP	$25,124,000	–	320,453	–	1.74%	–
FARO	New	FARO TECHNOLOGIES INC	$22,940,000	–	491,211	–	1.59%	–
ROG	New	ROGERS CORP	$22,652,000	–	342,490	–	1.57%	–
RAVN	New	RAVEN INDS INC	$20,465,000	–	1,006,638	–	1.42%	–
SQI	New	SCIQUEST INC NEW	$18,931,000	–	1,278,249	–	1.31%	–
TECH	New	BIO TECHNE CORP	$15,964,000	–	162,120	–	1.11%	–
HIBB	New	HIBBETT SPORTS INC	$15,632,000	–	335,598	–	1.08%	–
MORN	New	MORNINGSTAR INC	$13,220,000	–	166,191	–	0.92%	–
NRC	New	NATIONAL RESH CORPcl a	$13,158,000	–	925,986	–	0.91%	–
EXA	New	EXA CORP	$13,061,000	–	1,171,384	–	0.91%	–
NRCIB	New	NATIONAL RESH CORPcl b	$12,818,000	–	388,438	–	0.89%	–
ABAX	New	ABAXIS INC	$11,938,000	–	231,889	–	0.83%	–
ADVS	New	ADVENT SOFTWARE INC	$10,371,000	–	234,589	–	0.72%	–
UFI	New	UNIFI INC	$2,364,000	–	70,572	–	0.16%	–
XOM	New	EXXON MOBIL CORP	$1,646,000	–	19,780	–	0.11%	–
IHS	New	IHS INCcl a	$1,469,000	–	11,420	–	0.10%	–
MKL	New	MARKEL CORP	$1,233,000	–	1,540	–	0.09%	–
PII	New	POLARIS INDS INC	$1,129,000	–	7,620	–	0.08%	–
ANSS	New	ANSYS INC	$931,000	–	10,201	–	0.06%	–
IPGP	New	IPG PHOTONICS CORP	$776,000	–	9,115	–	0.05%	–
GGG	New	GRACO INC	$685,000	–	9,647	–	0.05%	–
GNTX	New	GENTEX CORP	$657,000	–	40,010	–	0.05%	–
WAB	New	WABTEC CORP	$646,000	–	6,860	–	0.04%	–
CPRT	New	COPART INC	$637,000	–	17,945	–	0.04%	–
VRSK	New	VERISK ANALYTICS INC	$641,000	–	8,805	–	0.04%	–
CLB	New	CORE LABORATORIES N V	$609,000	–	5,340	–	0.04%	–
DCI	New	DONALDSON INC	$608,000	–	16,990	–	0.04%	–
PFE	New	PFIZER INC	$598,000	–	17,835	–	0.04%	–
UNP	New	UNION PAC CORP	$610,000	–	6,400	–	0.04%	–
ABBV	New	ABBVIE INC	$601,000	–	8,940	–	0.04%	–
FAST	New	FASTENAL CO	$554,000	–	13,140	–	0.04%	–
HEIA	New	HEICO CORP NEWcl a	$547,000	–	10,765	–	0.04%	–
MMM	New	3M CO	$493,000	–	3,194	–	0.03%	–
MRK	New	MERCK & CO INC NEW	$484,000	–	8,500	–	0.03%	–
SM	New	SM ENERGY CO	$446,000	–	9,670	–	0.03%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$442,000	–	2,720	–	0.03%	–
KMB	New	KIMBERLY CLARK CORP	$450,000	–	4,250	–	0.03%	–
ABT	New	ABBOTT LABS	$439,000	–	8,940	–	0.03%	–
FTNT	New	FORTINET INC	$438,000	–	10,600	–	0.03%	–
JNJ	New	JOHNSON & JOHNSON	$437,000	–	4,479	–	0.03%	–
COST	New	COSTCO WHSL CORP NEW	$422,000	–	3,125	–	0.03%	–
MYGN	New	MYRIAD GENETICS INC	$423,000	–	12,450	–	0.03%	–
BCR	New	BARD C R INC	$400,000	–	2,345	–	0.03%	–
AOS	New	SMITH A O	$390,000	–	5,420	–	0.03%	–
DLB	New	DOLBY LABORATORIES INC	$390,000	–	9,820	–	0.03%	–
SJM	New	SMUCKER J M CO	$394,000	–	3,630	–	0.03%	–
GRMN	New	GARMIN LTD	$393,000	–	8,940	–	0.03%	–
INTC	New	INTEL CORP	$376,000	–	12,350	–	0.03%	–
TRMB	New	TRIMBLE NAVIGATION LTD	$376,000	–	16,020	–	0.03%	–
CVX	New	CHEVRON CORP NEW	$374,000	–	3,874	–	0.03%	–
PG	New	PROCTER & GAMBLE CO	$367,000	–	4,690	–	0.02%	–
FDS	New	FACTSET RESH SYS INC	$359,000	–	2,210	–	0.02%	–
MA	New	MASTERCARD INCcl a	$355,000	–	3,795	–	0.02%	–
AAPL	New	APPLE INC	$347,000	–	2,765	–	0.02%	–
ACTA	New	ACTUA CORP	$328,000	–	23,000	–	0.02%	–
UAA	New	UNDER ARMOUR INCcl a	$320,000	–	3,830	–	0.02%	–
OII	New	OCEANEERING INTL INC	$317,000	–	6,795	–	0.02%	–
TSCO	New	TRACTOR SUPPLY CO	$320,000	–	3,560	–	0.02%	–
MSFT	New	MICROSOFT CORP	$303,000	–	6,854	–	0.02%	–
INTU	New	INTUIT	$299,000	–	2,970	–	0.02%	–
PX	New	PRAXAIR INC	$306,000	–	2,560	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$294,000	–	4,341	–	0.02%	–
SIRO	New	SIRONA DENTAL SYSTEMS INC	$283,000	–	2,820	–	0.02%	–
IART	New	INTEGRA LIFESCIENCES HLDGS C	$269,000	–	4,000	–	0.02%	–
DHR	New	DANAHER CORP DEL	$259,000	–	3,030	–	0.02%	–
GE	New	GENERAL ELECTRIC CO	$246,000	–	9,254	–	0.02%	–
ECL	New	ECOLAB INC	$245,000	–	2,170	–	0.02%	–
QLIK	New	QLIK TECHNOLOGIES INC	$242,000	–	6,920	–	0.02%	–
EMC	New	E M C CORP MASS	$246,000	–	9,325	–	0.02%	–
AMGN	New	AMGEN INC	$235,000	–	1,530	–	0.02%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$237,000	–	2,668	–	0.02%	–
DD	New	DU PONT E I DE NEMOURS & CO	$232,000	–	3,630	–	0.02%	–
ETP	New	ENERGY TRANSFER PRTNRS L Punit ltd partn	$233,000	–	4,464	–	0.02%	–
HXL	New	HEXCEL CORP NEW	$228,000	–	4,580	–	0.02%	–
DOW	New	DOW CHEM CO	$210,000	–	4,100	–	0.02%	–
NKE	New	NIKE INCcl b	$220,000	–	2,035	–	0.02%	–
SPOK	New	SPOK HLDGS INC	$214,000	–	12,700	–	0.02%	–
WFC	New	WELLS FARGO & CO NEW	$219,000	–	3,900	–	0.02%	–
SLB	New	SCHLUMBERGER LTD	$203,000	–	2,350	–	0.01%	–
BMY	New	BRISTOL MYERS SQUIBB CO	$206,000	–	3,096	–	0.01%	–
HD	New	HOME DEPOT INC	$204,000	–	1,835	–	0.01%	–
STRM	New	STREAMLINE HEALTH SOLUTIONS	$33,000	–	11,700	–	0.00%	–
HNSN	New	HANSEN MEDICAL INC	$10,000	–	11,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
HNSN	Exit	HANSEN MEDICAL INC	$0	–	-11,800	–	-0.00%	–
STRM	Exit	STREAMLINE HEALTH SOLUTIONS	$0	–	-13,200	–	-0.00%	–
CVV	Exit	CVD EQUIPMENT CORP	$0	–	-10,000	–	-0.01%	–
SPOK	Exit	SPOK HLDGS INC	$0	–	-12,900	–	-0.01%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-3,900	–	-0.02%	–
HAL	Exit	HALLIBURTON CO	$0	–	-3,200	–	-0.02%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-4,062	–	-0.02%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-3,460	–	-0.02%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-2,955	–	-0.02%	–
SIRO	Exit	SIRONA DENTAL SYSTEMS INC	$0	–	-2,870	–	-0.02%	–
DOW	Exit	DOW CHEM CO	$0	–	-4,100	–	-0.02%	–
AMGN	Exit	AMGEN INC	$0	–	-1,530	–	-0.02%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-2,845	–	-0.02%	–
NKE	Exit	NIKE INCcl b	$0	–	-2,565	–	-0.02%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-2,382	–	-0.02%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-3,425	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-9,454	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-2,485	–	-0.02%	–
GNTX	Exit	GENTEX CORP	$0	–	-9,265	–	-0.02%	–
CPRT	Exit	COPART INC	$0	–	-7,995	–	-0.02%	–
ECL	Exit	ECOLAB INC	$0	–	-2,170	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,341	–	-0.02%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-3,630	–	-0.02%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-3,980	–	-0.02%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-2,240	–	-0.02%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-2,650	–	-0.02%	–
DCI	Exit	DONALDSON INC	$0	–	-6,975	–	-0.02%	–
WAB	Exit	WABTEC CORP	$0	–	-3,550	–	-0.02%	–
EMC	Exit	E M C CORP MASS	$0	–	-9,825	–	-0.02%	–
UAA	Exit	UNDER ARMOUR INCcl a	$0	–	-4,380	–	-0.02%	–
FTNT	Exit	FORTINET INC	$0	–	-12,470	–	-0.02%	–
INTU	Exit	INTUIT	$0	–	-3,545	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-6,854	–	-0.02%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-7,850	–	-0.02%	–
BCR	Exit	BARD C R INC	$0	–	-2,345	–	-0.02%	–
ANSS	Exit	ANSYS INC	$0	–	-4,501	–	-0.02%	–
GGG	Exit	GRACO INC	$0	–	-4,677	–	-0.02%	–
FAST	Exit	FASTENAL CO	$0	–	-7,760	–	-0.02%	–
ETP	Exit	ENERGY TRANSFER PRTNRS L Punit ltd partn	$0	–	-5,664	–	-0.03%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-3,125	–	-0.03%	–
SJM	Exit	SMUCKER J M CO	$0	–	-3,996	–	-0.03%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-5,965	–	-0.03%	–
ACTA	Exit	ACTUA CORP	$0	–	-25,700	–	-0.03%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-2,770	–	-0.03%	–
INTC	Exit	INTEL CORP	$0	–	-12,350	–	-0.03%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-4,990	–	-0.03%	–
IHS	Exit	IHS INCcl a	$0	–	-3,460	–	-0.03%	–
ABT	Exit	ABBOTT LABS	$0	–	-10,440	–	-0.03%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,250	–	-0.03%	–
SM	Exit	SM ENERGY CO	$0	–	-6,030	–	-0.03%	–
GRMN	Exit	GARMIN LTD	$0	–	-8,940	–	-0.03%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-4,479	–	-0.04%	–
MYGN	Exit	MYRIAD GENETICS INC	$0	–	-12,450	–	-0.04%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-4,174	–	-0.04%	–
MMM	Exit	3M CO	$0	–	-3,494	–	-0.04%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-8,500	–	-0.04%	–
PFE	Exit	PFIZER INC	$0	–	-17,835	–	-0.04%	–
MKL	Exit	MARKEL CORP	$0	–	-830	–	-0.04%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-2,840	–	-0.04%	–
VRSK	Exit	VERISK ANALYTICS INCcl a	$0	–	-8,805	–	-0.04%	–
TRMB	Exit	TRIMBLE NAVIGATION LTD	$0	–	-18,465	–	-0.04%	–
ABBV	Exit	ABBVIE INC	$0	–	-10,440	–	-0.04%	–
PII	Exit	POLARIS INDS INC	$0	–	-4,260	–	-0.05%	–
UNP	Exit	UNION PAC CORP	$0	–	-7,600	–	-0.06%	–
UFI	Exit	UNIFI INC	$0	–	-70,905	–	-0.13%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-20,680	–	-0.14%	–
VASC	Exit	VASCULAR SOLUTIONS INC	$0	–	-124,802	–	-0.22%	–
PFIE	Exit	PROFIRE ENERGY INC	$0	–	-1,881,075	–	-0.57%	–
ACTG	Exit	ACACIA RESH CORP	$0	–	-751,171	–	-0.85%	–
NRC	Exit	NATIONAL RESH CORPcl a	$0	–	-978,540	–	-0.93%	–
MORN	Exit	MORNINGSTAR INC	$0	–	-190,327	–	-0.94%	–
EXA	Exit	EXA CORP	$0	–	-1,196,947	–	-0.99%	–
LGND	Exit	LIGAND PHARMACEUTICALS INC	$0	–	-293,057	–	-1.01%	–
HCSG	Exit	HEALTHCARE SVCS GRP INC	$0	–	-488,435	–	-1.02%	–
NRCIB	Exit	NATIONAL RESH CORPcl b	$0	–	-396,112	–	-1.07%	–
TECH	Exit	TECHNE CORP	$0	–	-173,042	–	-1.18%	–
NVEC	Exit	NVE CORP	$0	–	-280,608	–	-1.32%	–
HIBB	Exit	HIBBETT SPORTS INC	$0	–	-439,960	–	-1.37%	–
MLAB	Exit	MESA LABS INC	$0	–	-342,676	–	-1.45%	–
SQI	Exit	SCIQUEST INC NEW	$0	–	-1,416,087	–	-1.56%	–
GEOS	Exit	GEOSPACE TECHNOLOGIES CORP	$0	–	-608,092	–	-1.56%	–
ROL	Exit	ROLLINS INC	$0	–	-742,890	–	-1.59%	–
MDSO	Exit	MEDIDATA SOLUTIONS INC	$0	–	-511,523	–	-1.66%	–
MCF	Exit	CONTANGO OIL & GAS COMPANY	$0	–	-682,557	–	-1.66%	–
RGEN	Exit	REPLIGEN CORP	$0	–	-1,155,394	–	-1.68%	–
FARO	Exit	FARO TECHNOLOGIES INC	$0	–	-526,488	–	-1.95%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-661,216	–	-1.97%	–
SSYS	Exit	STRATASYS LTD	$0	–	-223,816	–	-1.98%	–
ABCO	Exit	ADVISORY BRD CO	$0	–	-587,575	–	-2.00%	–
EGOV	Exit	NIC INC	$0	–	-1,671,763	–	-2.10%	–
ABAX	Exit	ABAXIS INC	$0	–	-574,981	–	-2.13%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-1,015,650	–	-2.16%	–
WHG	Exit	WESTWOOD HLDGS GROUP INC	$0	–	-560,071	–	-2.32%	–
FLTX	Exit	FLEETMATICS GROUP PLC	$0	–	-1,049,386	–	-2.34%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-623,544	–	-2.35%	–
MTDR	Exit	MATADOR RES CO	$0	–	-1,247,764	–	-2.36%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-208,507	–	-2.37%	–
STMP	Exit	STAMPS COM INC	$0	–	-1,027,702	–	-2.38%	–
PRLB	Exit	PROTO LABS INC	$0	–	-473,039	–	-2.38%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-1,296,860	–	-2.39%	–
ADVS	Exit	ADVENT SOFTWARE INC	$0	–	-1,041,683	–	-2.40%	–
BCPC	Exit	BALCHEM CORP	$0	–	-620,348	–	-2.56%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,277,589	–	-2.58%	–
SPSC	Exit	SPS COMM INC	$0	–	-663,956	–	-2.58%	–
DORM	Exit	DORMAN PRODUCTS INC	$0	–	-897,118	–	-2.62%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-1,926,696	–	-2.64%	–
CMD	Exit	CANTEL MEDICAL CORP	$0	–	-1,057,226	–	-2.66%	–
AAON	Exit	AAON INC	$0	–	-2,184,673	–	-2.72%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-431,572	–	-2.79%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-1,684,055	–	-2.95%	–
RAVN	Exit	RAVEN INDS INC	$0	–	-1,662,400	–	-2.96%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-1,056,189	–	-3.03%	–
OMCL	Exit	OMNICELL INC	$0	–	-1,550,908	–	-3.10%	–
SNHY	Exit	SUN HYDRAULICS CORP	$0	–	-1,204,190	–	-3.31%	–
NEOG	Exit	NEOGEN CORP	$0	–	-1,182,031	–	-3.41%	–

Q3 2014

			Value		Shares		↓ Weighting
NEOG	Buy	NEOGEN CORP	$46,690,000	+5.8%	1,182,031	+8.4%	3.41%	+15.2%
SNHY	Buy	SUN HYDRAULICS CORP	$45,266,000	-6.4%	1,204,190	+1.1%	3.31%	+1.9%
OMCL	Buy	OMNICELL INC	$42,386,000	-3.8%	1,550,908	+1.0%	3.10%	+4.7%
BLKB	Sell	BLACKBAUD INC	$41,498,000	+8.1%	1,056,189	-1.7%	3.03%	+17.7%
RAVN	Buy	RAVEN INDS INC	$40,563,000	-25.5%	1,662,400	+1.2%	2.96%	-18.9%
HSTM	Sell	HEALTHSTREAM INC	$40,434,000	-1.5%	1,684,055	-0.3%	2.95%	+7.3%
TYL	Sell	TYLER TECHNOLOGIES INC	$38,151,000	-3.3%	431,572	-0.2%	2.79%	+5.3%
AAON	Buy	AAON INC	$37,161,000	-23.6%	2,184,673	+50.5%	2.72%	-16.8%
CMD	Buy	CANTEL MEDICAL CORP	$36,347,000	+11.5%	1,057,226	+18.8%	2.66%	+21.5%
ACIW	Buy	ACI WORLDWIDE INC	$36,145,000	+2.2%	1,926,696	+204.1%	2.64%	+11.3%
DORM	Buy	DORMAN PRODUCTS INC	$35,939,000	+12.0%	897,118	+37.8%	2.62%	+21.9%
SPSC	Buy	SPS COMM INC	$35,289,000	-14.3%	663,956	+1.9%	2.58%	-6.7%
EPAY	Sell	BOTTOMLINE TECH DEL INC	$35,249,000	-8.1%	1,277,589	-0.4%	2.58%	+0.0%
BCPC	Buy	BALCHEM CORP	$35,093,000	+10.3%	620,348	+4.5%	2.56%	+20.1%
ADVS	Buy	ADVENT SOFTWARE INC	$32,876,000	-0.6%	1,041,683	+2.6%	2.40%	+8.3%
PRO	Buy	PROS HOLDINGS INC	$32,681,000	+1.1%	1,296,860	+6.1%	2.39%	+10.1%
PRLB	Buy	PROTO LABS INC	$32,640,000	-14.4%	473,039	+1.6%	2.38%	-6.8%
STMP	Sell	STAMPS COM INC	$32,640,000	-6.3%	1,027,702	-0.6%	2.38%	+2.0%
CSGP	Sell	COSTAR GROUP INC	$32,431,000	-1.8%	208,507	-0.2%	2.37%	+6.9%
MTDR	Sell	MATADOR RES CO	$32,255,000	-17.8%	1,247,764	-6.9%	2.36%	-10.6%
ALGN	Buy	ALIGN TECHNOLOGY INC	$32,225,000	-7.3%	623,544	+0.5%	2.35%	+0.9%
FLTX	Buy	FLEETMATICS GROUP PLC	$32,006,000	+4.9%	1,049,386	+11.3%	2.34%	+14.3%
WHG	Buy	WESTWOOD HLDGS GROUP INC	$31,750,000	-4.8%	560,071	+0.8%	2.32%	+3.6%
SSD	Sell	SIMPSON MANUFACTURING CO INC	$29,606,000	-21.2%	1,015,650	-1.7%	2.16%	-14.2%
ABAX	Sell	ABAXIS INC	$29,157,000	+2.6%	574,981	-10.3%	2.13%	+11.8%
EGOV	Sell	NIC INC	$28,788,000	+8.1%	1,671,763	-0.5%	2.10%	+17.7%
ABCO	Buy	ADVISORY BRD CO	$27,375,000	+13.8%	587,575	+26.7%	2.00%	+24.0%
SSYS	Sell	STRATASYS LTD	$27,032,000	-0.8%	223,816	-6.7%	1.98%	+8.0%
LOPE	Sell	GRAND CANYON ED INC	$26,958,000	-11.8%	661,216	-0.6%	1.97%	-4.0%
FARO	Buy	FARO TECHNOLOGIES INC	$26,719,000	+4.1%	526,488	+0.8%	1.95%	+13.4%
RGEN	Buy	REPLIGEN CORP	$23,004,000	-3.3%	1,155,394	+10.6%	1.68%	+5.2%
MCF	Sell	CONTANGO OIL & GAS COMPANY	$22,688,000	-21.7%	682,557	-0.3%	1.66%	-14.8%
MDSO	Buy	MEDIDATA SOLUTIONS INC	$22,655,000	+7.4%	511,523	+3.9%	1.66%	+17.0%
ROL	Sell	ROLLINS INC	$21,752,000	-4.4%	742,890	-2.0%	1.59%	+4.1%
GEOS	Buy	GEOSPACE TECHNOLOGIES CORP	$21,374,000	-31.3%	608,092	+7.7%	1.56%	-25.2%
SQI	Buy	SCIQUEST INC NEW	$21,298,000	-14.8%	1,416,087	+0.3%	1.56%	-7.2%
MLAB	Buy	MESA LABS INC	$19,800,000	-24.4%	342,676	+9.9%	1.45%	-17.7%
HIBB	Sell	HIBBETT SPORTS INC	$18,755,000	-30.4%	439,960	-11.5%	1.37%	-24.2%
NVEC	Buy	NVE CORP	$18,110,000	+17.0%	280,608	+0.8%	1.32%	+27.5%
TECH	Buy	TECHNE CORP	$16,188,000	+1.6%	173,042	+0.6%	1.18%	+10.6%
NRCIB	Buy	NATIONAL RESH CORPcl b	$14,696,000	-0.1%	396,112	+5.3%	1.07%	+8.8%
HCSG	New	HEALTHCARE SVCS GRP INC	$13,974,000	–	488,435	–	1.02%	–
LGND	Buy	LIGAND PHARMACEUTICALS INC	$13,771,000	-9.4%	293,057	+20.1%	1.01%	-1.4%
EXA	Buy	EXA CORP	$13,502,000	+90.3%	1,196,947	+90.0%	0.99%	+107.1%
MORN	Sell	MORNINGSTAR INC	$12,923,000	-7.2%	190,327	-1.9%	0.94%	+1.0%
NRC	Buy	NATIONAL RESH CORPcl a	$12,731,000	-4.6%	978,540	+2.5%	0.93%	+3.8%
ACTG	Sell	ACACIA RESH CORP	$11,628,000	-14.6%	751,171	-2.1%	0.85%	-7.1%
PFIE	New	PROFIRE ENERGY INC	$7,806,000	–	1,881,075	–	0.57%	–
VASC	New	VASCULAR SOLUTIONS INC	$3,083,000	–	124,802	–	0.22%	–
XOM	Sell	EXXON MOBIL CORP	$1,945,000	-9.2%	20,680	-2.7%	0.14%	-1.4%
UFI	Sell	UNIFI INC	$1,836,000	-56.1%	70,905	-53.3%	0.13%	-52.1%
TRMB	Sell	TRIMBLE NAVIGATION LTD	$563,000	-29.4%	18,465	-14.4%	0.04%	-22.6%
VRSK	Sell	VERISK ANALYTICS INCcl a	$536,000	-1.8%	8,805	-3.3%	0.04%	+5.4%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$539,000	+5.5%	2,840	+0.7%	0.04%	+14.7%
MKL	Sell	MARKEL CORP	$528,000	-19.9%	830	-17.4%	0.04%	-11.4%
PFE	Sell	PFIZER INC	$527,000	-2.0%	17,835	-1.7%	0.04%	+5.6%
MMM	Sell	3M CO	$495,000	-3.9%	3,494	-2.8%	0.04%	+2.9%
CVX	Sell	CHEVRON CORP NEW	$498,000	-9.6%	4,174	-1.2%	0.04%	-2.7%
JNJ	Sell	JOHNSON & JOHNSON	$477,000	-11.5%	4,479	-13.1%	0.04%	-2.8%
MYGN	Sell	MYRIAD GENETICS INC	$480,000	-23.2%	12,450	-22.4%	0.04%	-16.7%
GRMN	Sell	GARMIN LTD	$465,000	-30.2%	8,940	-18.3%	0.03%	-24.4%
KMB	Sell	KIMBERLY CLARK CORP	$457,000	-5.6%	4,250	-2.3%	0.03%	+3.1%
IHS	Sell	IHS INCcl a	$433,000	-17.8%	3,460	-10.9%	0.03%	-8.6%
INTC	Buy	INTEL CORP	$430,000	+13.5%	12,350	+0.8%	0.03%	+24.0%
PG	Sell	PROCTER & GAMBLE CO	$418,000	-5.6%	4,990	-11.5%	0.03%	+3.3%
CLB	Sell	CORE LABORATORIES N V	$405,000	-22.3%	2,770	-11.2%	0.03%	-14.3%
IPGP	Sell	IPG PHOTONICS CORP	$410,000	-14.4%	5,965	-14.4%	0.03%	-6.2%
ACTA	New	ACTUA CORP	$412,000	–	25,700	–	0.03%	–
COST	Sell	COSTCO WHSL CORP NEW	$392,000	+5.7%	3,125	-3.1%	0.03%	+16.0%
SJM	Sell	SMUCKER J M CO	$396,000	-19.2%	3,996	-13.1%	0.03%	-12.1%
ANSS	Sell	ANSYS INC	$341,000	-7.8%	4,501	-7.7%	0.02%	0.0%
FAST	Sell	FASTENAL CO	$348,000	-18.7%	7,760	-10.2%	0.02%	-13.8%
BCR	Sell	BARD C R INC	$335,000	-8.0%	2,345	-7.9%	0.02%	0.0%
DLB	Sell	DOLBY LABORATORIES INC	$328,000	-16.1%	7,850	-13.3%	0.02%	-7.7%
MSFT	Sell	MICROSOFT CORP	$318,000	-9.1%	6,854	-18.3%	0.02%	0.0%
INTU	Sell	INTUIT	$311,000	-24.1%	3,545	-30.4%	0.02%	-17.9%
WAB	New	WABTEC CORP	$288,000	–	3,550	–	0.02%	–
EMC	Sell	E M C CORP MASS	$287,000	+6.7%	9,825	-3.9%	0.02%	+16.7%
FDS	Sell	FACTSET RESH SYS INC	$272,000	-22.7%	2,240	-23.4%	0.02%	-16.7%
SLB	Sell	SCHLUMBERGER LTD	$269,000	-26.5%	2,650	-14.5%	0.02%	-20.0%
OII	Sell	OCEANEERING INTL INC	$259,000	-22.5%	3,980	-7.0%	0.02%	-13.6%
GE	Sell	GENERAL ELECTRIC CO	$242,000	-24.8%	9,454	-22.8%	0.02%	-18.2%
GNTX	Sell	GENTEX CORP	$248,000	-17.9%	9,265	-10.6%	0.02%	-10.0%
MA	Sell	MASTERCARD INCcl a	$253,000	-18.4%	3,425	-18.9%	0.02%	-14.3%
AAPL	Sell	APPLE INC	$250,000	0.0%	2,485	-7.8%	0.02%	+5.9%
NKE	Sell	NIKE INCcl b	$229,000	-28.2%	2,565	-37.7%	0.02%	-19.0%
AMGN	New	AMGEN INC	$215,000	–	1,530	–	0.02%	–
DHR	Sell	DANAHER CORP DEL	$225,000	-28.1%	2,955	-25.6%	0.02%	-23.8%
VZ	New	VERIZON COMMUNICATIONS INC	$203,000	–	4,062	–	0.02%	–
SPOK	New	SPOK HLDGS INC	$168,000	–	12,900	–	0.01%	–
CVV	Sell	CVD EQUIPMENT CORP	$129,000	-61.8%	10,000	-64.2%	0.01%	-60.9%
STRM	Sell	STREAMLINE HEALTH SOLUTIONS	$61,000	-61.1%	13,200	-59.6%	0.00%	-63.6%
HNSN	Sell	HANSEN MEDICAL INC	$14,000	-63.2%	11,800	-59.5%	0.00%	-66.7%
LUNA	Exit	LUNA INNOVATIONS	$0	–	-10,000	–	-0.00%	–
ETRM	Exit	ENTEROMEDICS INC	$0	–	-10,000	–	-0.00%	–
XRSC	Exit	XRS CORP	$0	–	-10,000	–	-0.00%	–
MDWCQ	Exit	MIDWAY GOLD CORP	$0	–	-26,600	–	-0.00%	–
GKNT	Exit	GEEKNET INC	$0	–	-11,000	–	-0.01%	–
MON	Exit	MONSANTO CO NEW	$0	–	-1,608	–	-0.01%	–
GOOG	Exit	GOOGLE INCcl c	$0	–	-375	–	-0.01%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,535	–	-0.01%	–
WAG	Exit	WALGREEN CO	$0	–	-2,880	–	-0.01%	–
PX	Exit	PRAXAIR INC	$0	–	-1,565	–	-0.01%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-2,900	–	-0.01%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-2,360	–	-0.01%	–
AMLP	Exit	ALPS ETF TRalerian mlp	$0	–	-11,200	–	-0.01%	–
USMO	Exit	USA MOBILITY INC	$0	–	-14,600	–	-0.02%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-375	–	-0.02%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-7,050	–	-0.02%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-2,215	–	-0.02%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-925	–	-0.02%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-3,556	–	-0.02%	–
SRCL	Exit	STERICYCLE INC	$0	–	-2,175	–	-0.02%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-1,870	–	-0.02%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-737,319	–	-1.02%	–
MED	Exit	MEDIFAST INC	$0	–	-506,793	–	-1.03%	–
CRRTQ	Exit	CARBO CERAMICS INC	$0	–	-207,805	–	-2.15%	–

Q2 2014

			Value		Shares		↓ Weighting
RAVN	New	RAVEN INDS INC	$54,444,000	–	1,642,845	–	3.65%	–
AAON	New	AAON INC	$48,664,000	–	1,451,776	–	3.26%	–
SNHY	New	SUN HYDRAULICS CORP	$48,369,000	–	1,191,348	–	3.24%	–
NEOG	New	NEOGEN CORP	$44,118,000	–	1,090,140	–	2.96%	–
OMCL	New	OMNICELL INC	$44,081,000	–	1,535,373	–	2.96%	–
SPSC	New	SPS COMM INC	$41,164,000	–	651,431	–	2.76%	–
HSTM	New	HEALTHSTREAM INC	$41,052,000	–	1,689,380	–	2.75%	–
TYL	New	TYLER TECHNOLOGIES INC	$39,434,000	–	432,342	–	2.65%	–
MTDR	New	MATADOR RES CO	$39,260,000	–	1,340,853	–	2.63%	–
BLKB	New	BLACKBAUD INC	$38,394,000	–	1,074,254	–	2.58%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$38,367,000	–	1,282,309	–	2.57%	–
PRLB	New	PROTO LABS INC	$38,131,000	–	465,469	–	2.56%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$37,565,000	–	1,033,145	–	2.52%	–
ACIW	New	ACI WORLDWIDE INC	$35,371,000	–	633,542	–	2.37%	–
STMP	New	STAMPS COM INC	$34,838,000	–	1,034,082	–	2.34%	–
ALGN	New	ALIGN TECHNOLOGY INC	$34,773,000	–	620,509	–	2.33%	–
WHG	New	WESTWOOD HLDGS GROUP INC	$33,353,000	–	555,511	–	2.24%	–
ADVS	New	ADVENT SOFTWARE INC	$33,062,000	–	1,015,118	–	2.22%	–
CSGP	New	COSTAR GROUP INC	$33,033,000	–	208,842	–	2.22%	–
CMD	New	CANTEL MEDICAL CORP	$32,586,000	–	889,846	–	2.19%	–
PRO	New	PROS HOLDINGS INC	$32,319,000	–	1,222,350	–	2.17%	–
DORM	New	DORMAN PRODUCTS INC	$32,099,000	–	650,823	–	2.15%	–
CRRTQ	New	CARBO CERAMICS INC	$32,027,000	–	207,805	–	2.15%	–
BCPC	New	BALCHEM CORP	$31,802,000	–	593,768	–	2.13%	–
GEOS	New	GEOSPACE TECHNOLOGIES CORP	$31,108,000	–	564,777	–	2.09%	–
LOPE	New	GRAND CANYON ED INC	$30,579,000	–	665,201	–	2.05%	–
FLTX	New	FLEETMATICS GROUP PLC	$30,502,000	–	943,181	–	2.05%	–
MCF	New	CONTANGO OIL & GAS COMPANY	$28,979,000	–	684,922	–	1.94%	–
ABAX	New	ABAXIS INC	$28,409,000	–	641,146	–	1.91%	–
SSYS	New	STRATASYS LTD	$27,248,000	–	239,796	–	1.83%	–
HIBB	New	HIBBETT SPORTS INC	$26,932,000	–	497,170	–	1.81%	–
EGOV	New	NIC INC	$26,635,000	–	1,680,458	–	1.79%	–
MLAB	New	MESA LABS INC	$26,186,000	–	311,881	–	1.76%	–
FARO	New	FARO TECHNOLOGIES INC	$25,662,000	–	522,438	–	1.72%	–
SQI	New	SCIQUEST INC NEW	$24,986,000	–	1,412,432	–	1.68%	–
ABCO	New	ADVISORY BRD CO	$24,048,000	–	463,795	–	1.61%	–
RGEN	New	REPLIGEN CORP	$23,800,000	–	1,044,319	–	1.60%	–
ROL	New	ROLLINS INC	$22,749,000	–	758,296	–	1.53%	–
MDSO	New	MEDIDATA SOLUTIONS INC	$21,086,000	–	492,550	–	1.42%	–
TECH	New	TECHNE CORP	$15,927,000	–	172,057	–	1.07%	–
NVEC	New	NVE CORP	$15,475,000	–	278,373	–	1.04%	–
MED	New	MEDIFAST INC	$15,412,000	–	506,793	–	1.03%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$15,218,000	–	737,319	–	1.02%	–
LGND	New	LIGAND PHARMACEUTICALS INC	$15,197,000	–	243,967	–	1.02%	–
NRCIB	New	NATIONAL RESH CORPcl b	$14,715,000	–	376,236	–	0.99%	–
MORN	New	MORNINGSTAR INC	$13,932,000	–	194,012	–	0.94%	–
ACTG	New	ACACIA RESH CORP	$13,621,000	–	767,401	–	0.91%	–
NRC	New	NATIONAL RESH CORPcl a	$13,350,000	–	954,225	–	0.90%	–
EXA	New	EXA CORP	$7,095,000	–	630,077	–	0.48%	–
UFI	New	UNIFI INC	$4,179,000	–	151,804	–	0.28%	–
XOM	New	EXXON MOBIL CORP	$2,141,000	–	21,263	–	0.14%	–
TRMB	New	TRIMBLE NAVIGATION LTD	$797,000	–	21,565	–	0.05%	–
UNP	New	UNION PAC CORP	$758,000	–	7,600	–	0.05%	–
GRMN	New	GARMIN LTD	$666,000	–	10,940	–	0.04%	–
MKL	New	MARKEL CORP	$659,000	–	1,005	–	0.04%	–
MYGN	New	MYRIAD GENETICS INC	$625,000	–	16,050	–	0.04%	–
ABBV	New	ABBVIE INC	$589,000	–	10,440	–	0.04%	–
CVX	New	CHEVRON CORP NEW	$551,000	–	4,224	–	0.04%	–
VRSK	New	VERISK ANALYTICS INCcl a	$546,000	–	9,105	–	0.04%	–
PII	New	POLARIS INDS INC	$555,000	–	4,260	–	0.04%	–
PFE	New	PFIZER INC	$538,000	–	18,135	–	0.04%	–
JNJ	New	JOHNSON & JOHNSON	$539,000	–	5,154	–	0.04%	–
IHS	New	IHS INCcl a	$527,000	–	3,885	–	0.04%	–
CLB	New	CORE LABORATORIES N V	$521,000	–	3,120	–	0.04%	–
MMM	New	3M CO	$515,000	–	3,594	–	0.04%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$511,000	–	2,820	–	0.03%	–
SM	New	SM ENERGY CO	$507,000	–	6,030	–	0.03%	–
SJM	New	SMUCKER J M CO	$490,000	–	4,596	–	0.03%	–
MRK	New	MERCK & CO INC NEW	$492,000	–	8,500	–	0.03%	–
KMB	New	KIMBERLY CLARK CORP	$484,000	–	4,350	–	0.03%	–
IPGP	New	IPG PHOTONICS CORP	$479,000	–	6,965	–	0.03%	–
PG	New	PROCTER & GAMBLE CO	$443,000	–	5,640	–	0.03%	–
ABT	New	ABBOTT LABS	$427,000	–	10,440	–	0.03%	–
FAST	New	FASTENAL CO	$428,000	–	8,640	–	0.03%	–
INTU	New	INTUIT	$410,000	–	5,095	–	0.03%	–
DLB	New	DOLBY LABORATORIES INC	$391,000	–	9,050	–	0.03%	–
ANSS	New	ANSYS INC	$370,000	–	4,876	–	0.02%	–
INTC	New	INTEL CORP	$379,000	–	12,250	–	0.02%	–
COST	New	COSTCO WHSL CORP NEW	$371,000	–	3,225	–	0.02%	–
SLB	New	SCHLUMBERGER LTD	$366,000	–	3,100	–	0.02%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$366,000	–	1,870	–	0.02%	–
BCR	New	BARD C R INC	$364,000	–	2,545	–	0.02%	–
GGG	New	GRACO INC	$365,000	–	4,677	–	0.02%	–
FDS	New	FACTSET RESH SYS INC	$352,000	–	2,925	–	0.02%	–
MSFT	New	MICROSOFT CORP	$350,000	–	8,387	–	0.02%	–
CVV	New	CVD EQUIPMENT CORP	$338,000	–	27,900	–	0.02%	–
OII	New	OCEANEERING INTL INC	$334,000	–	4,280	–	0.02%	–
GE	New	GENERAL ELECTRIC CO	$322,000	–	12,254	–	0.02%	–
ETP	New	ENERGY TRANSFER PRTNRS L Punit ltd partn	$328,000	–	5,664	–	0.02%	–
DHR	New	DANAHER CORP DEL	$313,000	–	3,970	–	0.02%	–
MA	New	MASTERCARD INCcl a	$310,000	–	4,225	–	0.02%	–
NKE	New	NIKE INCcl b	$319,000	–	4,115	–	0.02%	–
FTNT	New	FORTINET INC	$313,000	–	12,470	–	0.02%	–
GNTX	New	GENTEX CORP	$302,000	–	10,365	–	0.02%	–
DCI	New	DONALDSON INC	$295,000	–	6,975	–	0.02%	–
CPRT	New	COPART INC	$288,000	–	7,995	–	0.02%	–
UTX	New	UNITED TECHNOLOGIES CORP	$275,000	–	2,382	–	0.02%	–
EMC	New	E M C CORP MASS	$269,000	–	10,225	–	0.02%	–
UAA	New	UNDER ARMOUR INCcl a	$261,000	–	4,380	–	0.02%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$247,000	–	3,556	–	0.02%	–
SRCL	New	STERICYCLE INC	$258,000	–	2,175	–	0.02%	–
AAPL	New	APPLE INC	$250,000	–	2,695	–	0.02%	–
JPM	New	JPMORGAN CHASE & CO	$250,000	–	4,341	–	0.02%	–
PCP	New	PRECISION CASTPARTS CORP	$233,000	–	925	–	0.02%	–
ECL	New	ECOLAB INC	$242,000	–	2,170	–	0.02%	–
DD	New	DU PONT E I DE NEMOURS & CO	$238,000	–	3,630	–	0.02%	–
SIRO	New	SIRONA DENTAL SYSTEMS INC	$237,000	–	2,870	–	0.02%	–
SIAL	New	SIGMA ALDRICH CORP	$225,000	–	2,215	–	0.02%	–
AVAV	New	AEROVIRONMENT INC	$224,000	–	7,050	–	0.02%	–
GOOGL	New	GOOGLE INCcl a	$219,000	–	375	–	0.02%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$226,000	–	2,845	–	0.02%	–
USMO	New	USA MOBILITY INC	$225,000	–	14,600	–	0.02%	–
HAL	New	HALLIBURTON CO	$227,000	–	3,200	–	0.02%	–
AMLP	New	ALPS ETF TRalerian mlp	$213,000	–	11,200	–	0.01%	–
DOW	New	DOW CHEM CO	$211,000	–	4,100	–	0.01%	–
HD	New	HOME DEPOT INC	$205,000	–	2,535	–	0.01%	–
TSCO	New	TRACTOR SUPPLY CO	$209,000	–	3,460	–	0.01%	–
COP	New	CONOCOPHILLIPS	$202,000	–	2,360	–	0.01%	–
GOOG	New	GOOGLE INCcl c	$216,000	–	375	–	0.01%	–
WAG	New	WALGREEN CO	$213,000	–	2,880	–	0.01%	–
WFC	New	WELLS FARGO & CO NEW	$205,000	–	3,900	–	0.01%	–
ADBE	New	ADOBE SYS INC	$210,000	–	2,900	–	0.01%	–
PX	New	PRAXAIR INC	$208,000	–	1,565	–	0.01%	–
MON	New	MONSANTO CO NEW	$201,000	–	1,608	–	0.01%	–
STRM	New	STREAMLINE HEALTH SOLUTIONS	$157,000	–	32,700	–	0.01%	–
GKNT	New	GEEKNET INC	$137,000	–	11,000	–	0.01%	–
HNSN	New	HANSEN MEDICAL INC	$38,000	–	29,100	–	0.00%	–
XRSC	New	XRS CORP	$26,000	–	10,000	–	0.00%	–
MDWCQ	New	MIDWAY GOLD CORP	$24,000	–	26,600	–	0.00%	–
ETRM	New	ENTEROMEDICS INC	$16,000	–	10,000	–	0.00%	–
LUNA	New	LUNA INNOVATIONS	$14,000	–	10,000	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
ETRM	Exit	ENTEROMEDICS INC	$0	–	-10,000	–	-0.00%	–
MDWCQ	Exit	MIDWAY GOLD CORP	$0	–	-26,600	–	-0.00%	–
HNSN	Exit	HANSEN MEDICAL INC	$0	–	-30,000	–	-0.01%	–
PETM	Exit	PETSMART INC	$0	–	-2,665	–	-0.02%	–
WFC	Exit	WELLS FARGO & CO NEW	$0	–	-4,900	–	-0.02%	–
WAG	Exit	WALGREEN CO	$0	–	-3,815	–	-0.02%	–
DOW	Exit	DOW CHEM CO	$0	–	-5,600	–	-0.02%	–
CAB	Exit	CABELAS INC	$0	–	-3,370	–	-0.02%	–
PCP	Exit	PRECISION CASTPARTS CORP	$0	–	-925	–	-0.02%	–
USMO	Exit	USA MOBILITY INC	$0	–	-14,850	–	-0.02%	–
AAPL	Exit	APPLE INC	$0	–	-435	–	-0.02%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-2,895	–	-0.02%	–
HD	Exit	HOME DEPOT INC	$0	–	-2,835	–	-0.02%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-3,606	–	-0.02%	–
AMLP	Exit	ALPS ETF TRalerian mlp	$0	–	-12,500	–	-0.02%	–
CVV	Exit	CVD EQUIPMENT CORP	$0	–	-23,575	–	-0.02%	–
URBN	Exit	URBAN OUTFITTERS INC	$0	–	-6,230	–	-0.02%	–
PEP	Exit	PEPSICO INC	$0	–	-3,150	–	-0.02%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-4,691	–	-0.02%	–
ECL	Exit	ECOLAB INC	$0	–	-2,525	–	-0.02%	–
ADM	Exit	ARCHER DANIELS MIDLAND CO	$0	–	-6,586	–	-0.02%	–
STRM	Exit	STREAMLINE HEALTH SOLUTIONS	$0	–	-32,500	–	-0.02%	–
SRCL	Exit	STERICYCLE INC	$0	–	-2,225	–	-0.02%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-4,950	–	-0.02%	–
CPRT	Exit	COPART INC	$0	–	-8,500	–	-0.02%	–
SIRO	Exit	SIRONA DENTAL SYSTEMS INC	$0	–	-4,090	–	-0.02%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-8,087	–	-0.02%	–
PPL	Exit	PPL CORP	$0	–	-8,658	–	-0.02%	–
DD	Exit	DU PONT E I DE NEMOURS & CO	$0	–	-4,530	–	-0.02%	–
INTC	Exit	INTEL CORP	$0	–	-12,075	–	-0.02%	–
FRX	Exit	FOREST LABS INC	$0	–	-6,470	–	-0.02%	–
SLB	Exit	SCHLUMBERGER LTD	$0	–	-3,150	–	-0.02%	–
DCI	Exit	DONALDSON INC	$0	–	-7,360	–	-0.02%	–
MA	Exit	MASTERCARD INCcl a	$0	–	-435	–	-0.02%	–
EMC	Exit	E M C CORP MASS	$0	–	-11,475	–	-0.02%	–
ETP	Exit	ENERGY TRANSFER PRTNRS L Punit ltd partn	$0	–	-5,664	–	-0.02%	–
DHR	Exit	DANAHER CORP DEL	$0	–	-4,135	–	-0.02%	–
NKE	Exit	NIKE INCcl b	$0	–	-4,185	–	-0.03%	–
GE	Exit	GENERAL ELECTRIC CO	$0	–	-13,404	–	-0.03%	–
FTNT	Exit	FORTINET INC	$0	–	-15,360	–	-0.03%	–
GNTX	Exit	GENTEX CORP	$0	–	-12,165	–	-0.03%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-1,870	–	-0.03%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-6,800	–	-0.03%	–
UTX	Exit	UNITED TECHNOLOGIES CORP	$0	–	-2,982	–	-0.03%	–
OUTR	Exit	OUTERWALL INC	$0	–	-6,550	–	-0.03%	–
INTU	Exit	INTUIT	$0	–	-5,195	–	-0.03%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-3,175	–	-0.03%	–
CHRW	Exit	C H ROBINSON WORLDWIDE INC	$0	–	-6,075	–	-0.03%	–
BCR	Exit	BARD C R INC	$0	–	-3,255	–	-0.03%	–
GGG	Exit	GRACO INC	$0	–	-4,997	–	-0.03%	–
QLIK	Exit	QLIK TECHNOLOGIES INC	$0	–	-10,820	–	-0.03%	–
ABT	Exit	ABBOTT LABS	$0	–	-11,550	–	-0.03%	–
DLB	Exit	DOLBY LABORATORIES INC	$0	–	-11,550	–	-0.03%	–
UAA	Exit	UNDER ARMOUR INCcl a	$0	–	-5,020	–	-0.03%	–
MYGN	Exit	MYRIAD GENETICS INC	$0	–	-17,180	–	-0.04%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-7,480	–	-0.04%	–
MCRS	Exit	MICROS SYS INC	$0	–	-8,660	–	-0.04%	–
FAST	Exit	FASTENAL CO	$0	–	-8,580	–	-0.04%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-6,680	–	-0.04%	–
GRMN	Exit	GARMIN LTD	$0	–	-9,990	–	-0.04%	–
MRK	Exit	MERCK & CO INC NEW	$0	–	-9,600	–	-0.04%	–
KMB	Exit	KIMBERLY CLARK CORP	$0	–	-4,850	–	-0.04%	–
ANSS	Exit	ANSYS INC	$0	–	-5,361	–	-0.04%	–
MMM	Exit	3M CO	$0	–	-4,194	–	-0.04%	–
IHS	Exit	IHS INCcl a	$0	–	-4,395	–	-0.04%	–
ABBV	Exit	ABBVIE INC	$0	–	-11,550	–	-0.04%	–
SM	Exit	SM ENERGY CO	$0	–	-6,850	–	-0.04%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-6,414	–	-0.05%	–
MKL	Exit	MARKEL CORP	$0	–	-1,090	–	-0.05%	–
SJM	Exit	SMUCKER J M CO	$0	–	-5,396	–	-0.05%	–
PFE	Exit	PFIZER INC	$0	–	-21,185	–	-0.05%	–
VRSK	Exit	VERISK ANALYTICS INCcl a	$0	–	-9,885	–	-0.06%	–
TRMB	Exit	TRIMBLE NAVIGATION LTD	$0	–	-22,550	–	-0.06%	–
PG	Exit	PROCTER & GAMBLE CO	$0	–	-8,995	–	-0.06%	–
CVX	Exit	CHEVRON CORP NEW	$0	–	-5,768	–	-0.06%	–
UNP	Exit	UNION PAC CORP	$0	–	-4,700	–	-0.06%	–
PII	Exit	POLARIS INDS INC	$0	–	-5,790	–	-0.06%	–
CLB	Exit	CORE LABORATORIES N V	$0	–	-4,410	–	-0.06%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-5,320	–	-0.08%	–
UFI	Exit	UNIFI INC	$0	–	-150,859	–	-0.30%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-43,178	–	-0.32%	–
EXA	Exit	EXA CORP	$0	–	-320,824	–	-0.43%	–
NRCIB	Exit	NATIONAL RESH CORPcl b	$0	–	-171,697	–	-0.44%	–
MLAB	Exit	MESA LABS INC	$0	–	-111,921	–	-0.65%	–
MED	Exit	MEDIFAST INC	$0	–	-333,939	–	-0.77%	–
NVEC	Exit	NVE CORP	$0	–	-178,007	–	-0.78%	–
AVAV	Exit	AEROVIRONMENT INC	$0	–	-396,745	–	-0.78%	–
INWK	Exit	INNERWORKINGS INC	$0	–	-1,012,248	–	-0.85%	–
TECH	Exit	TECHNE CORP	$0	–	-146,428	–	-1.00%	–
ACTG	Exit	ACACIA RESH CORP	$0	–	-605,268	–	-1.20%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-135,032	–	-1.26%	–
FLTX	Exit	FLEETMATICS GROUP PLC	$0	–	-402,885	–	-1.30%	–
MTDR	Exit	MATADOR RES CO	$0	–	-937,896	–	-1.31%	–
MORN	Exit	MORNINGSTAR INC	$0	–	-208,903	–	-1.42%	–
NRC	Exit	NATIONAL RESH CORPcl a	$0	–	-898,707	–	-1.45%	–
SPSC	Exit	SPS COMM INC	$0	–	-262,470	–	-1.50%	–
ACCL	Exit	ACCELRYS INC	$0	–	-1,956,650	–	-1.65%	–
MCF	Exit	CONTANGO OIL & GAS COMPANY	$0	–	-531,515	–	-1.67%	–
MDSO	Exit	MEDIDATA SOLUTIONS INC	$0	–	-206,180	–	-1.75%	–
ROL	Exit	ROLLINS INC	$0	–	-777,104	–	-1.76%	–
CRRTQ	Exit	CARBO CERAMICS INC	$0	–	-208,676	–	-1.77%	–
VIVO	Exit	MERIDIAN BIOSCIENCE INC	$0	–	-885,752	–	-1.79%	–
WHG	Exit	WESTWOOD HLDGS GROUP INC	$0	–	-447,654	–	-1.84%	–
EGOV	Exit	NIC INC	$0	–	-930,741	–	-1.84%	–
HITT	Exit	HITTITE MICROWAVE CORP	$0	–	-334,195	–	-1.87%	–
ADVS	Exit	ADVENT SOFTWARE INC	$0	–	-736,323	–	-2.00%	–
ABAX	Exit	ABAXIS INC	$0	–	-560,148	–	-2.02%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-589,364	–	-2.03%	–
HIBB	Exit	HIBBETT SPORTS INC	$0	–	-427,754	–	-2.06%	–
SQI	Exit	SCIQUEST INC NEW	$0	–	-1,080,509	–	-2.08%	–
BLKB	Exit	BLACKBAUD INC	$0	–	-649,510	–	-2.17%	–
ABCO	Exit	ADVISORY BRD CO	$0	–	-429,989	–	-2.19%	–
SSD	Exit	SIMPSON MANUFACTURING CO INC	$0	–	-793,327	–	-2.21%	–
SSYS	Exit	STRATASYS LTD	$0	–	-257,498	–	-2.23%	–
PRO	Exit	PROS HOLDINGS INC	$0	–	-771,185	–	-2.26%	–
OMCL	Exit	OMNICELL INC	$0	–	-1,128,433	–	-2.29%	–
FARO	Exit	FARO TECHNOLOGIES INC	$0	–	-643,167	–	-2.32%	–
NEOG	Exit	NEOGEN CORP	$0	–	-454,417	–	-2.36%	–
STMP	Exit	STAMPS COM INC	$0	–	-608,991	–	-2.40%	–
BCPC	Exit	BALCHEM CORP	$0	–	-542,026	–	-2.40%	–
EPAY	Exit	BOTTOMLINE TECH DEL INC	$0	–	-1,022,860	–	-2.44%	–
AAON	Exit	AAON INC	$0	–	-1,092,198	–	-2.48%	–
GEOS	Exit	GEOSPACE TECHNOLOGIES CORP	$0	–	-373,036	–	-2.69%	–
ALGN	Exit	ALIGN TECHNOLOGY INC	$0	–	-657,443	–	-2.71%	–
ACIW	Exit	ACI WORLDWIDE INC	$0	–	-613,699	–	-2.84%	–
PRLB	Exit	PROTO LABS INC	$0	–	-434,642	–	-2.84%	–
RAVN	Exit	RAVEN INDS INC	$0	–	-1,044,870	–	-2.93%	–
HSTM	Exit	HEALTHSTREAM INC	$0	–	-925,015	–	-3.00%	–
SNHY	Exit	SUN HYDRAULICS CORP	$0	–	-968,610	–	-3.01%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-455,233	–	-3.41%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-307,930	–	-4.43%	–

Q3 2013

			Value		Shares		↓ Weighting
CSGP	Sell	COSTAR GROUP INC	$51,705,000	+15.3%	307,930	-11.4%	4.43%	-4.3%
TYL	Sell	TYLER TECHNOLOGIES INC	$39,819,000	+26.2%	455,233	-1.1%	3.41%	+4.7%
SNHY	Buy	SUN HYDRAULICS CORP	$35,128,000	+17.4%	968,610	+1.3%	3.01%	-2.6%
HSTM	Buy	HEALTHSTREAM INC	$35,040,000	+67.0%	925,015	+11.6%	3.00%	+38.6%
RAVN	Buy	RAVEN INDS INC	$34,178,000	+13.7%	1,044,870	+4.2%	2.93%	-5.7%
PRLB	Sell	PROTO LABS INC	$33,202,000	+17.1%	434,642	-0.4%	2.84%	-2.8%
ACIW	Buy	ACI WORLDWIDE INC	$33,177,000	+19.5%	613,699	+2.7%	2.84%	-0.9%
ALGN	Sell	ALIGN TECHNOLOGY INC	$31,623,000	+24.9%	657,443	-3.8%	2.71%	+3.6%
GEOS	Buy	GEOSPACE TECHNOLOGIES CORP	$31,441,000	+66.1%	373,036	+36.1%	2.69%	+37.9%
AAON	Buy	AAON INC	$29,009,000	+74.8%	1,092,198	+117.7%	2.48%	+45.1%
EPAY	Sell	BOTTOMLINE TECH DEL INC	$28,517,000	+7.6%	1,022,860	-2.4%	2.44%	-10.7%
BCPC	Buy	BALCHEM CORP	$28,050,000	+18.1%	542,026	+2.1%	2.40%	-2.0%
STMP	Sell	STAMPS COM INC	$27,971,000	-9.5%	608,991	-22.3%	2.40%	-24.9%
NEOG	Sell	NEOGEN CORP	$27,592,000	+8.6%	454,417	-0.6%	2.36%	-9.9%
FARO	Buy	FARO TECHNOLOGIES INC	$27,122,000	+71.3%	643,167	+37.4%	2.32%	+42.1%
OMCL	Buy	OMNICELL INC	$26,721,000	+211.4%	1,128,433	+170.3%	2.29%	+158.4%
PRO	Sell	PROS HOLDINGS INC	$26,367,000	-10.6%	771,185	-21.7%	2.26%	-25.8%
SSYS	Sell	STRATASYS LTD	$26,074,000	+19.4%	257,498	-1.3%	2.23%	-0.9%
SSD	Sell	SIMPSON MANUFACTURING CO INC	$25,839,000	+9.9%	793,327	-0.7%	2.21%	-8.8%
ABCO	Sell	ADVISORY BRD CO	$25,576,000	+8.0%	429,989	-0.8%	2.19%	-10.4%
BLKB	Sell	BLACKBAUD INC	$25,357,000	+18.4%	649,510	-1.2%	2.17%	-1.8%
SQI	Buy	SCIQUEST INC NEW	$24,268,000	+18.9%	1,080,509	+32.6%	2.08%	-1.4%
HIBB	Buy	HIBBETT SPORTS INC	$24,002,000	+35.0%	427,754	+33.7%	2.06%	+12.0%
LOPE	Buy	GRAND CANYON ED INC	$23,716,000	+38.9%	589,364	+11.3%	2.03%	+15.3%
ABAX	Buy	ABAXIS INC	$23,591,000	-1.7%	560,148	+10.8%	2.02%	-18.5%
ADVS	Buy	ADVENT SOFTWARE INC	$23,378,000	-5.9%	736,323	+4.0%	2.00%	-21.9%
HITT	Sell	HITTITE MICROWAVE CORP	$21,840,000	+12.0%	334,195	-0.6%	1.87%	-7.0%
WHG	Buy	WESTWOOD HLDGS GROUP INC	$21,510,000	+13.6%	447,654	+1.5%	1.84%	-5.7%
EGOV	Sell	NIC INC	$21,509,000	+38.7%	930,741	-0.8%	1.84%	+15.2%
VIVO	Buy	MERIDIAN BIOSCIENCE INC	$20,931,000	+19.9%	885,752	+9.0%	1.79%	-0.6%
CRRTQ	Buy	CARBO CERAMICS INC	$20,682,000	+69.3%	208,676	+15.2%	1.77%	+40.5%
ROL	Sell	ROLLINS INC	$20,601,000	+1.1%	777,104	-1.2%	1.76%	-16.1%
MDSO	Sell	MEDIDATA SOLUTIONS INC	$20,397,000	+0.4%	206,180	-21.4%	1.75%	-16.7%
MCF	Buy	CONTANGO OIL & GAS COMPANY	$19,533,000	+62.7%	531,515	+49.4%	1.67%	+35.0%
ACCL	Buy	ACCELRYS INC	$19,253,000	+30.6%	1,956,650	+11.5%	1.65%	+8.3%
SPSC	Buy	SPS COMM INC	$17,564,000	+220.6%	262,470	+163.5%	1.50%	+165.9%
NRC	Sell	NATIONAL RESH CORPcl a	$16,923,000	+3.3%	898,707	-1.2%	1.45%	-14.3%
MORN	Sell	MORNINGSTAR INC	$16,558,000	+0.5%	208,903	-1.7%	1.42%	-16.6%
MTDR	New	MATADOR RES CO	$15,316,000	–	937,896	–	1.31%	–
FLTX	New	FLEETMATICS GROUP PLC	$15,128,000	–	402,885	–	1.30%	–
FDS	Sell	FACTSET RESH SYS INC	$14,732,000	+6.5%	135,032	-0.5%	1.26%	-11.6%
ACTG	Buy	ACACIA RESH CORP	$13,957,000	+3.3%	605,268	+0.1%	1.20%	-14.2%
TECH	Sell	TECHNE CORP	$11,723,000	+15.8%	146,428	-0.1%	1.00%	-3.9%
INWK	Buy	INNERWORKINGS INC	$9,940,000	-7.5%	1,012,248	+2.2%	0.85%	-23.2%
AVAV	Buy	AEROVIRONMENT INC	$9,165,000	+15.3%	396,745	+0.7%	0.78%	-4.4%
NVEC	Sell	NVE CORP	$9,085,000	+8.9%	178,007	-0.1%	0.78%	-9.6%
MED	Buy	MEDIFAST INC	$8,980,000	+4.9%	333,939	+0.5%	0.77%	-13.0%
MLAB	Buy	MESA LABS INC	$7,567,000	+99.6%	111,921	+59.8%	0.65%	+65.7%
NRCIB	Buy	NATIONAL RESH CORPcl b	$5,127,000	-3.2%	171,697	+13.2%	0.44%	-19.7%
EXA	New	EXA CORP	$4,970,000	–	320,824	–	0.43%	–
XOM	Sell	EXXON MOBIL CORP	$3,715,000	-6.6%	43,178	-2.0%	0.32%	-22.6%
UFI	Sell	UNIFI INC	$3,524,000	+12.3%	150,859	-0.6%	0.30%	-6.8%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$985,000	-5.5%	5,320	-2.4%	0.08%	-22.2%
CLB	Sell	CORE LABORATORIES N V	$746,000	-92.7%	4,410	-93.5%	0.06%	-93.9%
PII	Sell	POLARIS INDS INC	$748,000	+33.6%	5,790	-1.7%	0.06%	+10.3%
CVX	Sell	CHEVRON CORP NEW	$701,000	+1.3%	5,768	-1.4%	0.06%	-15.5%
PG	Sell	PROCTER & GAMBLE CO	$680,000	-10.2%	8,995	-8.5%	0.06%	-25.6%
TRMB	Sell	TRIMBLE NAVIGATION LTD	$670,000	+2.4%	22,550	-10.3%	0.06%	-16.2%
VRSK	Sell	VERISK ANALYTICS INCcl a	$642,000	+5.8%	9,885	-2.7%	0.06%	-12.7%
PFE	Sell	PFIZER INC	$609,000	+1.7%	21,185	-0.9%	0.05%	-16.1%
SJM	Sell	SMUCKER J M CO	$567,000	-7.5%	5,396	-9.2%	0.05%	-22.2%
JNJ	Sell	JOHNSON & JOHNSON	$556,000	-7.6%	6,414	-8.6%	0.05%	-22.6%
SM	Sell	SM ENERGY CO	$529,000	+16.0%	6,850	-9.9%	0.04%	-4.3%
IHS	Sell	IHS INCcl a	$502,000	+0.8%	4,395	-7.9%	0.04%	-15.7%
ANSS	Sell	ANSYS INC	$464,000	-1.1%	5,361	-16.4%	0.04%	-16.7%
MRK	Sell	MERCK & CO INC NEW	$457,000	+0.4%	9,600	-2.0%	0.04%	-17.0%
GRMN	Buy	GARMIN LTD	$451,000	+40.1%	9,990	+12.4%	0.04%	+18.2%
TSCO	Buy	TRACTOR SUPPLY CO	$449,000	-0.9%	6,680	+73.5%	0.04%	-19.1%
MCRS	Sell	MICROS SYS INC	$432,000	+6.9%	8,660	-7.5%	0.04%	-11.9%
FAST	Sell	FASTENAL CO	$431,000	-1.8%	8,580	-10.4%	0.04%	-17.8%
IPGP	Buy	IPG PHOTONICS CORP	$421,000	-6.7%	7,480	+0.7%	0.04%	-23.4%
MYGN	Sell	MYRIAD GENETICS INC	$404,000	-15.1%	17,180	-3.1%	0.04%	-28.6%
DLB	Sell	DOLBY LABORATORIES INC	$399,000	+1.5%	11,550	-1.7%	0.03%	-17.1%
BCR	Sell	BARD C R INC	$375,000	+1.4%	3,255	-4.4%	0.03%	-15.8%
QLIK	Sell	QLIK TECHNOLOGIES INC	$370,000	+8.8%	10,820	-10.0%	0.03%	-8.6%
GGG	Sell	GRACO INC	$370,000	-3.1%	4,997	-17.4%	0.03%	-17.9%
CHRW	Sell	C H ROBINSON WORLDWIDE INC	$362,000	+2.5%	6,075	-3.2%	0.03%	-13.9%
COST	Sell	COSTCO WHSL CORP NEW	$366,000	-7.3%	3,175	-11.2%	0.03%	-24.4%
INTU	Sell	INTUIT	$344,000	-9.0%	5,195	-16.1%	0.03%	-25.6%
OUTR	New	OUTERWALL INC	$328,000	–	6,550	–	0.03%	–
GE	Sell	GENERAL ELECTRIC CO	$320,000	+0.6%	13,404	-2.2%	0.03%	-18.2%
FTNT	Buy	FORTINET INC	$311,000	+50.2%	15,360	+29.8%	0.03%	+28.6%
GNTX	Sell	GENTEX CORP	$311,000	+1.6%	12,165	-8.5%	0.03%	-15.6%
VZ	Sell	VERIZON COMMUNICATIONS INC	$317,000	-10.7%	6,800	-3.5%	0.03%	-27.0%
DHR	Buy	DANAHER CORP DEL	$287,000	+16.7%	4,135	+6.4%	0.02%	0.0%
EMC	Sell	E M C CORP MASS	$293,000	+7.3%	11,475	-0.9%	0.02%	-10.7%
MA	Sell	MASTERCARD INCcl a	$293,000	+5.0%	435	-10.3%	0.02%	-13.8%
INTC	Sell	INTEL CORP	$277,000	-10.6%	12,075	-5.5%	0.02%	-25.0%
SLB	Sell	SCHLUMBERGER LTD	$278,000	+11.6%	3,150	-9.4%	0.02%	-7.7%
MSFT	Sell	MICROSOFT CORP	$269,000	-7.2%	8,087	-3.6%	0.02%	-23.3%
SRCL	Sell	STERICYCLE INC	$257,000	-7.2%	2,225	-11.2%	0.02%	-24.1%
ADBE	Sell	ADOBE SYS INC	$257,000	+4.5%	4,950	-8.3%	0.02%	-12.0%
JPM	Sell	JPMORGAN CHASE & CO	$242,000	-6.2%	4,691	-4.1%	0.02%	-22.2%
STRM	Sell	STREAMLINE HEALTH SOLUTIONS	$247,000	+13.3%	32,500	-2.1%	0.02%	-8.7%
CVV	Buy	CVD EQUIPMENT CORP	$228,000	+33.3%	23,575	+14.6%	0.02%	+11.1%
AMLP	Sell	ALPS ETF TRalerian mlp	$220,000	-8.7%	12,500	-7.4%	0.02%	-24.0%
DOW	New	DOW CHEM CO	$215,000	–	5,600	–	0.02%	–
PCP	Sell	PRECISION CASTPARTS CORP	$210,000	-11.4%	925	-11.9%	0.02%	-25.0%
HD	Sell	HOME DEPOT INC	$215,000	-11.5%	2,835	-9.6%	0.02%	-28.0%
USMO	Sell	USA MOBILITY INC	$210,000	+1.0%	14,850	-3.3%	0.02%	-14.3%
CAB	New	CABELAS INC	$212,000	–	3,370	–	0.02%	–
WAG	New	WALGREEN CO	$205,000	–	3,815	–	0.02%	–
ADP	Sell	AUTOMATIC DATA PROCESSING IN	$210,000	-4.5%	2,895	-9.4%	0.02%	-21.7%
AAPL	New	APPLE INC	$207,000	–	435	–	0.02%	–
PETM	New	PETSMART INC	$203,000	–	2,665	–	0.02%	–
HNSN	Buy	HANSEN MEDICAL INC	$54,000	+54.3%	30,000	+22.4%	0.01%	+25.0%
GKNT	Exit	GEEKNET INC	$0	–	-10,200	–	-0.02%	–
SIAL	Exit	SIGMA ALDRICH CORP	$0	–	-2,590	–	-0.02%	–
ISRG	Exit	INTUITIVE SURGICAL INC	$0	–	-435	–	-0.02%	–
FIRE	Exit	SOURCEFIRE INC	$0	–	-432,659	–	-2.48%	–

Q2 2013

			Value		Shares		↓ Weighting
CSGP	New	COSTAR GROUP INC	$44,863,000	–	347,590	–	4.63%	–
TYL	New	TYLER TECHNOLOGIES INC	$31,551,000	–	460,268	–	3.26%	–
STMP	New	STAMPS COM INC	$30,892,000	–	784,266	–	3.19%	–
RAVN	New	RAVEN INDS INC	$30,070,000	–	1,002,995	–	3.10%	–
SNHY	New	SUN HYDRAULICS CORP	$29,917,000	–	956,419	–	3.09%	–
PRO	New	PROS HOLDINGS INC	$29,488,000	–	984,570	–	3.04%	–
PRLB	New	PROTO LABS INC	$28,351,000	–	436,367	–	2.93%	–
ACIW	New	ACI WORLDWIDE INC	$27,770,000	–	597,454	–	2.87%	–
EPAY	New	BOTTOMLINE TECH DEL INC	$26,505,000	–	1,048,025	–	2.74%	–
NEOG	New	NEOGEN CORP	$25,408,000	–	457,307	–	2.62%	–
ALGN	New	ALIGN TECHNOLOGY INC	$25,318,000	–	683,523	–	2.61%	–
ADVS	New	ADVENT SOFTWARE INC	$24,834,000	–	708,338	–	2.56%	–
FIRE	New	SOURCEFIRE INC	$24,034,000	–	432,659	–	2.48%	–
ABAX	New	ABAXIS INC	$24,010,000	–	505,363	–	2.48%	–
BCPC	New	BALCHEM CORP	$23,747,000	–	530,651	–	2.45%	–
ABCO	New	ADVISORY BRD CO	$23,677,000	–	433,249	–	2.44%	–
SSD	New	SIMPSON MANUFACTURING CO INC	$23,509,000	–	799,072	–	2.43%	–
SSYS	New	STRATASYS LTD	$21,842,000	–	260,833	–	2.26%	–
BLKB	New	BLACKBAUD INC	$21,414,000	–	657,490	–	2.21%	–
HSTM	New	HEALTHSTREAM INC	$20,980,000	–	828,610	–	2.17%	–
SQI	New	SCIQUEST INC NEW	$20,419,000	–	815,144	–	2.11%	–
ROL	New	ROLLINS INC	$20,379,000	–	786,850	–	2.10%	–
MDSO	New	MEDIDATA SOLUTIONS INC	$20,310,000	–	262,240	–	2.10%	–
HITT	New	HITTITE MICROWAVE CORP	$19,492,000	–	336,070	–	2.01%	–
WHG	New	WESTWOOD HLDGS GROUP INC	$18,935,000	–	441,164	–	1.96%	–
GEOS	New	GEOSPACE TECHNOLOGIES CORP	$18,930,000	–	274,032	–	1.95%	–
HIBB	New	HIBBETT SPORTS INC	$17,785,000	–	320,039	–	1.84%	–
VIVO	New	MERIDIAN BIOSCIENCE INC	$17,464,000	–	812,302	–	1.80%	–
LOPE	New	GRAND CANYON ED INC	$17,070,000	–	529,619	–	1.76%	–
AAON	New	AAON INC	$16,595,000	–	501,650	–	1.71%	–
MORN	New	MORNINGSTAR INC	$16,481,000	–	212,438	–	1.70%	–
NRC	New	NATIONAL RESH CORPcl a	$16,381,000	–	910,042	–	1.69%	–
FARO	New	FARO TECHNOLOGIES INC	$15,835,000	–	468,217	–	1.64%	–
EGOV	New	NIC INC	$15,503,000	–	937,851	–	1.60%	–
ACCL	New	ACCELRYS INC	$14,741,000	–	1,754,920	–	1.52%	–
FDS	New	FACTSET RESH SYS INC	$13,831,000	–	135,677	–	1.43%	–
ACTG	New	ACACIA RESH CORP	$13,508,000	–	604,383	–	1.39%	–
CRRTQ	New	CARBO CERAMICS INC	$12,213,000	–	181,126	–	1.26%	–
MCF	New	CONTANGO OIL & GAS COMPANY	$12,006,000	–	355,740	–	1.24%	–
INWK	New	INNERWORKINGS INC	$10,742,000	–	990,053	–	1.11%	–
CLB	New	CORE LABORATORIES N V	$10,214,000	–	67,349	–	1.05%	–
TECH	New	TECHNE CORP	$10,125,000	–	146,573	–	1.04%	–
OMCL	New	OMNICELL INC	$8,580,000	–	417,531	–	0.89%	–
MED	New	MEDIFAST INC	$8,562,000	–	332,394	–	0.88%	–
NVEC	New	NVE CORP	$8,339,000	–	178,107	–	0.86%	–
AVAV	New	AEROVIRONMENT INC	$7,952,000	–	394,070	–	0.82%	–
SPSC	New	SPS COMM INC	$5,479,000	–	99,613	–	0.57%	–
NRCIB	New	NATIONAL RESH CORPcl b	$5,299,000	–	151,647	–	0.55%	–
XOM	New	EXXON MOBIL CORP	$3,979,000	–	44,038	–	0.41%	–
MLAB	New	MESA LABS INC	$3,791,000	–	70,040	–	0.39%	–
UFI	New	UNIFI INC	$3,137,000	–	151,759	–	0.32%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$1,042,000	–	5,450	–	0.11%	–
PG	New	PROCTER & GAMBLE CO	$757,000	–	9,826	–	0.08%	–
UNP	New	UNION PAC CORP	$725,000	–	4,700	–	0.08%	–
CVX	New	CHEVRON CORP NEW	$692,000	–	5,850	–	0.07%	–
TRMB	New	TRIMBLE NAVIGATION LTD	$654,000	–	25,150	–	0.07%	–
SJM	New	SMUCKER J M CO	$613,000	–	5,946	–	0.06%	–
VRSK	New	VERISK ANALYTICS INCcl a	$607,000	–	10,160	–	0.06%	–
JNJ	New	JOHNSON & JOHNSON	$602,000	–	7,014	–	0.06%	–
PFE	New	PFIZER INC	$599,000	–	21,385	–	0.06%	–
MKL	New	MARKEL CORP	$574,000	–	1,090	–	0.06%	–
PII	New	POLARIS INDS INC	$560,000	–	5,890	–	0.06%	–
IHS	New	IHS INCcl a	$498,000	–	4,770	–	0.05%	–
MYGN	New	MYRIAD GENETICS INC	$476,000	–	17,730	–	0.05%	–
ABBV	New	ABBVIE INC	$477,000	–	11,550	–	0.05%	–
KMB	New	KIMBERLY CLARK CORP	$471,000	–	4,850	–	0.05%	–
ANSS	New	ANSYS INC	$469,000	–	6,411	–	0.05%	–
TSCO	New	TRACTOR SUPPLY CO	$453,000	–	3,850	–	0.05%	–
IPGP	New	IPG PHOTONICS CORP	$451,000	–	7,430	–	0.05%	–
MRK	New	MERCK & CO INC NEW	$455,000	–	9,800	–	0.05%	–
SM	New	SM ENERGY CO	$456,000	–	7,600	–	0.05%	–
MMM	New	3M CO	$459,000	–	4,194	–	0.05%	–
FAST	New	FASTENAL CO	$439,000	–	9,580	–	0.04%	–
ABT	New	ABBOTT LABS	$403,000	–	11,550	–	0.04%	–
MCRS	New	MICROS SYS INC	$404,000	–	9,365	–	0.04%	–
COST	New	COSTCO WHSL CORP NEW	$395,000	–	3,575	–	0.04%	–
DLB	New	DOLBY LABORATORIES INC	$393,000	–	11,750	–	0.04%	–
GGG	New	GRACO INC	$382,000	–	6,047	–	0.04%	–
INTU	New	INTUIT	$378,000	–	6,195	–	0.04%	–
BCR	New	BARD C R INC	$370,000	–	3,405	–	0.04%	–
VZ	New	VERIZON COMMUNICATIONS INC	$355,000	–	7,050	–	0.04%	–
CHRW	New	C H ROBINSON WORLDWIDE INC	$353,000	–	6,275	–	0.04%	–
QLIK	New	QLIK TECHNOLOGIES INC	$340,000	–	12,020	–	0.04%	–
GRMN	New	GARMIN LTD	$322,000	–	8,890	–	0.03%	–
GE	New	GENERAL ELECTRIC CO	$318,000	–	13,704	–	0.03%	–
GNTX	New	GENTEX CORP	$306,000	–	13,290	–	0.03%	–
INTC	New	INTEL CORP	$310,000	–	12,775	–	0.03%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$300,000	–	1,870	–	0.03%	–
UAA	New	UNDER ARMOUR INCcl a	$300,000	–	5,020	–	0.03%	–
ETP	New	ENERGY TRANSFER PRTNRS L Punit ltd partn	$286,000	–	5,664	–	0.03%	–
MSFT	New	MICROSOFT CORP	$290,000	–	8,387	–	0.03%	–
MA	New	MASTERCARD INCcl a	$279,000	–	485	–	0.03%	–
UTX	New	UNITED TECHNOLOGIES CORP	$277,000	–	2,982	–	0.03%	–
SRCL	New	STERICYCLE INC	$277,000	–	2,505	–	0.03%	–
NKE	New	NIKE INCcl b	$267,000	–	4,185	–	0.03%	–
EMC	New	E M C CORP MASS	$273,000	–	11,575	–	0.03%	–
SIRO	New	SIRONA DENTAL SYSTEMS INC	$269,000	–	4,090	–	0.03%	–
PEP	New	PEPSICO INC	$258,000	–	3,150	–	0.03%	–
JPM	New	JPMORGAN CHASE & CO	$258,000	–	4,891	–	0.03%	–
PPL	New	PPL CORP	$262,000	–	8,658	–	0.03%	–
FRX	New	FOREST LABS INC	$265,000	–	6,470	–	0.03%	–
DCI	New	DONALDSON INC	$262,000	–	7,360	–	0.03%	–
CPRT	New	COPART INC	$262,000	–	8,500	–	0.03%	–
SLB	New	SCHLUMBERGER LTD	$249,000	–	3,475	–	0.03%	–
URBN	New	URBAN OUTFITTERS INC	$251,000	–	6,230	–	0.03%	–
DHR	New	DANAHER CORP DEL	$246,000	–	3,885	–	0.02%	–
HD	New	HOME DEPOT INC	$243,000	–	3,135	–	0.02%	–
AMLP	New	ALPS ETF TRalerian mlp	$241,000	–	13,500	–	0.02%	–
ADBE	New	ADOBE SYS INC	$246,000	–	5,400	–	0.02%	–
DD	New	DU PONT E I DE NEMOURS & CO	$238,000	–	4,530	–	0.02%	–
PCP	New	PRECISION CASTPARTS CORP	$237,000	–	1,050	–	0.02%	–
ISRG	New	INTUITIVE SURGICAL INC	$220,000	–	435	–	0.02%	–
STRM	New	STREAMLINE HEALTH SOLUTIONS	$218,000	–	33,200	–	0.02%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$223,000	–	3,606	–	0.02%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$220,000	–	3,195	–	0.02%	–
ADM	New	ARCHER DANIELS MIDLAND CO	$223,000	–	6,586	–	0.02%	–
ECL	New	ECOLAB INC	$215,000	–	2,525	–	0.02%	–
USMO	New	USA MOBILITY INC	$208,000	–	15,350	–	0.02%	–
WFC	New	WELLS FARGO & CO NEW	$202,000	–	4,900	–	0.02%	–
FTNT	New	FORTINET INC	$207,000	–	11,830	–	0.02%	–
SIAL	New	SIGMA ALDRICH CORP	$208,000	–	2,590	–	0.02%	–
CVV	New	CVD EQUIPMENT CORP	$171,000	–	20,575	–	0.02%	–
GKNT	New	GEEKNET INC	$141,000	–	10,200	–	0.02%	–
HNSN	New	HANSEN MEDICAL INC	$35,000	–	24,500	–	0.00%	–
MDWCQ	New	MIDWAY GOLD CORP	$25,000	–	26,600	–	0.00%	–
ETRM	New	ENTEROMEDICS INC	$11,000	–	10,000	–	0.00%	–

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