Junto Capital Management LP Activity Q4 2014-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
WMT	Buy	WALMART INC	$204,163,759	+25.2%	1,276,582	+23.0%	4.84%	+16.9%
RSP	Buy	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$188,843,015	+13.3%	1,332,790	+19.6%	4.47%	+5.7%
BSX	Buy	BOSTON SCIENTIFIC CORP	$186,555,706	+65.8%	3,533,252	+69.8%	4.42%	+54.7%
JPM	Buy	JPMORGAN CHASE & CO	$166,399,719	+42.5%	1,147,426	+42.9%	3.94%	+33.1%
KKR	Buy	KKR & CO INC	$153,030,909	+40.5%	2,484,268	+27.7%	3.62%	+31.2%
MCD	Buy	MCDONALDS CORP	$146,079,588	+34.2%	554,508	+52.1%	3.46%	+25.4%
CBOE	Sell	CBOE GLOBAL MKTS INC	$109,831,095	-19.6%	703,099	-28.9%	2.60%	-24.9%
MUSA	Buy	MURPHY USA INC	$102,268,512	+13.6%	299,267	+3.4%	2.42%	+6.0%
LPLA	Sell	LPL FINL HLDGS INC	$98,243,797	-17.9%	413,397	-24.9%	2.33%	-23.4%
HUM	New	HUMANA INC	$95,229,965	–	195,737	–	2.26%	–
AIG	New	AMERICAN INTL GROUP INC	$87,501,007	–	1,443,911	–	2.07%	–
CRM	Buy	SALESFORCE INC	$87,214,461	+63.8%	430,094	+70.7%	2.07%	+53.0%
PGR	New	PROGRESSIVE CORP	$83,099,833	–	596,553	–	1.97%	–
HLT	New	HILTON WORLDWIDE HLDGS INC	$79,851,907	–	531,708	–	1.89%	–
MMC	New	MARSH & MCLENNAN COS INC	$79,783,656	–	419,252	–	1.89%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$78,410,001	–	1,480,831	–	1.86%	–
TXRH	Buy	TEXAS ROADHOUSE INC	$72,140,829	+11.7%	750,685	+30.5%	1.71%	+4.3%
CSX	Buy	CSX CORP	$70,025,038	+11.4%	2,277,237	+23.5%	1.66%	+3.9%
ECL	Buy	ECOLAB INC	$69,589,012	+13.5%	410,797	+25.0%	1.65%	+5.9%
PNC	New	PNC FINL SVCS GROUP INC	$68,927,498	–	561,436	–	1.63%	–
STZ	Sell	CONSTELLATION BRANDS INCcl a	$68,492,954	-20.1%	272,522	-21.8%	1.62%	-25.4%
PG	Sell	PROCTER AND GAMBLE CO	$68,185,758	-31.5%	467,474	-28.7%	1.62%	-36.0%
ARES	Buy	ARES MANAGEMENT CORPORATION	$67,804,497	+29.4%	659,128	+21.2%	1.61%	+20.8%
MCK	New	MCKESSON CORP	$67,285,645	–	154,733	–	1.59%	–
ROST	Sell	ROSS STORES INC	$66,384,329	-27.1%	587,732	-27.6%	1.57%	-31.9%
RE	Buy	EVEREST GROUP LTD	$63,455,591	+39.6%	170,731	+28.4%	1.50%	+30.4%
ULTA	Buy	ULTA BEAUTY INC	$61,955,494	+77.8%	155,102	+109.5%	1.47%	+66.0%
LULU	Sell	LULULEMON ATHLETICA INC	$57,877,362	-17.0%	150,093	-18.5%	1.37%	-22.5%
VVV	Buy	VALVOLINE INC	$56,854,208	+20.1%	1,763,468	+39.7%	1.35%	+12.1%
GOOGL	New	ALPHABET INCcap stk cl a	$56,495,403	–	431,724	–	1.34%	–
COF	New	CAPITAL ONE FINL CORP	$55,784,146	–	574,798	–	1.32%	–
DECK	Sell	DECKERS OUTDOOR CORP	$54,331,088	-40.7%	105,684	-39.1%	1.29%	-44.6%
TPX	New	TEMPUR SEALY INTL INC	$52,203,377	–	1,204,508	–	1.24%	–
TFC	New	TRUIST FINL CORP	$51,946,576	–	1,815,679	–	1.23%	–
INTU	Sell	INTUIT	$49,766,067	-24.1%	97,401	-31.9%	1.18%	-29.1%
	New	BATH & BODY WORKS INC	$47,587,595	–	1,407,917	–	1.13%	–
CI	Sell	THE CIGNA GROUP	$47,093,988	-26.2%	164,624	-27.6%	1.12%	-31.1%
ALL	New	ALLSTATE CORP	$46,608,931	–	418,355	–	1.10%	–
BURL	Buy	BURLINGTON STORES INC	$46,039,072	-13.4%	340,274	+0.7%	1.09%	-19.2%
EHC	Sell	ENCOMPASS HEALTH CORP	$45,243,879	-4.3%	673,673	-3.6%	1.07%	-10.7%
PTC	Sell	PTC INC	$45,191,386	-30.7%	318,968	-30.4%	1.07%	-35.3%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$45,112,481	+166.1%	338,479	+150.8%	1.07%	+148.4%
MA	New	MASTERCARD INCORPORATEDcl a	$44,293,619	–	111,878	–	1.05%	–
IBKR	Sell	INTERACTIVE BROKERS GROUP IN	$44,190,525	+3.2%	510,519	-1.0%	1.05%	-3.7%
HUBB	New	HUBBELL INC	$44,066,700	–	140,604	–	1.04%	–
MSFT	Buy	MICROSOFT CORP	$40,849,209	-5.3%	129,372	+2.1%	0.97%	-11.6%
WAB	New	WABTEC	$39,290,251	–	369,721	–	0.93%	–
TMUS	New	T-MOBILE US INC	$39,184,309	–	279,788	–	0.93%	–
EQIX	New	EQUINIX INC	$37,691,441	–	51,898	–	0.89%	–
ALLY	New	ALLY FINL INC	$36,804,847	–	1,379,492	–	0.87%	–
WMG	Buy	WARNER MUSIC GROUP CORP	$36,599,620	+72.5%	1,165,593	+43.3%	0.87%	+61.2%
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$36,163,744	–	533,861	–	0.86%	–
WDAY	Buy	WORKDAY INCcl a	$32,928,341	+44.2%	153,262	+51.6%	0.78%	+34.7%
OLLI	Buy	OLLIES BARGAIN OUTLET HLDGS	$32,013,261	+109.1%	414,787	+57.0%	0.76%	+95.4%
FB	Sell	META PLATFORMS INCcl a	$31,369,243	-24.2%	104,491	-27.5%	0.74%	-29.2%
	New	APOLLO GLOBAL MGMT INC	$27,720,132	–	308,825	–	0.66%	–
SSNC	Buy	SS&C TECHNOLOGIES HLDGS INC	$27,316,649	+434.6%	519,921	+516.6%	0.65%	+397.7%
THC	Sell	TENET HEALTHCARE CORP	$26,708,116	-23.8%	405,344	-5.9%	0.63%	-28.8%
EAT	Buy	BRINKER INTL INC	$26,394,172	+8.1%	835,523	+25.2%	0.62%	+0.8%
T	New	AT&T INC	$24,321,165	–	1,619,252	–	0.58%	–
PPG	Sell	PPG INDS INC	$23,575,055	-73.0%	181,626	-69.2%	0.56%	-74.9%
AMZN	Sell	AMAZON COM INC	$18,446,129	-57.5%	145,108	-56.4%	0.44%	-60.3%
APD	New	AIR PRODS & CHEMS INC	$17,006,551	–	60,009	–	0.40%	–
	New	ATLASSIAN CORPORATIONcl a	$16,786,186	–	83,302	–	0.40%	–
AOS	New	SMITH A O CORP	$15,044,112	–	227,493	–	0.36%	–
NLOK	New	GEN DIGITAL INC	$13,578,717	–	768,027	–	0.32%	–
CCI	New	CROWN CASTLE INC	$10,888,529	–	118,315	–	0.26%	–
PLNT	New	PLANET FITNESS INCcl a	$10,474,947	–	212,992	–	0.25%	–
MCO	Sell	MOODYS CORP	$10,317,576	-87.1%	32,633	-85.8%	0.24%	-87.9%
IT	Sell	GARTNER INC	$6,260,918	-91.6%	18,221	-91.4%	0.15%	-92.1%
TRU	New	TRANSUNION	$3,201,690	–	44,598	–	0.08%	–
CTAS	Exit	CINTAS CORP	$0	–	-12,644	–	-0.16%	–
SEAS	Exit	SEAWORLD ENTMT INC	$0	–	-208,379	–	-0.30%	–
GLOB	Exit	GLOBANT S A	$0	–	-65,187	–	-0.30%	–
GWRE	Exit	GUIDEWIRE SOFTWARE INC	$0	–	-153,845	–	-0.30%	–
DKS	Exit	DICKS SPORTING GOODS INC	$0	–	-150,272	–	-0.50%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-8,024	–	-0.55%	–
AMT	Exit	AMERICAN TOWER CORP NEW	$0	–	-116,863	–	-0.58%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-247,247	–	-0.60%	–
EXLS	Exit	EXLSERVICE HOLDINGS INC	$0	–	-156,273	–	-0.60%	–
M	Exit	MACYS INC	$0	–	-1,605,383	–	-0.65%	–
RNR	Exit	RENAISSANCERE HLDGS LTD	$0	–	-138,609	–	-0.66%	–
CPNG	Exit	COUPANG INCcl a	$0	–	-1,520,629	–	-0.67%	–
WWE	Exit	WORLD WRESTLING ENTMT INCcl a	$0	–	-282,383	–	-0.78%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-367,632	–	-0.79%	–
UHS	Exit	UNIVERSAL HLTH SVCS INCcl b	$0	–	-201,452	–	-0.81%	–
TRV	Exit	TRAVELERS COMPANIES INC	$0	–	-198,462	–	-0.87%	–
AMG	Exit	AFFILIATED MANAGERS GROUP IN	$0	–	-246,664	–	-0.94%	–
ANTM	Exit	ELEVANCE HEALTH INC	$0	–	-92,953	–	-1.05%	–
V	Exit	VISA INC	$0	–	-186,342	–	-1.12%	–
ARMK	Exit	ARAMARK	$0	–	-1,036,662	–	-1.13%	–
WH	Exit	WYNDHAM HOTELS & RESORTS INC	$0	–	-708,449	–	-1.23%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-519,672	–	-1.30%	–
LOW	Exit	LOWES COS INC	$0	–	-310,763	–	-1.78%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-505,936	–	-1.87%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-390,725	–	-2.06%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-528,329	–	-2.34%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-1,491,265	–	-4.28%	–

Q2 2023

			Value		Shares		↓ Weighting
ICE	New	INTERCONTINENTAL EXCHANGE IN	$168,632,246	–	1,491,265	–	4.28%	–
RSP	New	INVESCO EXCHANGE TRADED FD Ts&p500 eql wgt	$166,739,064	–	1,114,268	–	4.23%	–
WMT	New	WALMART INC	$163,081,952	–	1,037,549	–	4.14%	–
CBOE	New	CBOE GLOBAL MKTS INC	$136,522,114	–	989,219	–	3.46%	–
LPLA	New	LPL FINL HLDGS INC	$119,707,174	–	550,555	–	3.04%	–
JPM	New	JPMORGAN CHASE & CO	$116,755,887	–	802,777	–	2.96%	–
BSX	New	BOSTON SCIENTIFIC CORP	$112,538,951	–	2,080,587	–	2.86%	–
KKR	New	KKR & CO INC	$108,923,976	–	1,945,071	–	2.76%	–
MCD	New	MCDONALDS CORP	$108,811,924	–	364,639	–	2.76%	–
PG	New	PROCTER AND GAMBLE CO	$99,506,843	–	655,772	–	2.52%	–
AXP	New	AMERICAN EXPRESS CO	$92,034,912	–	528,329	–	2.34%	–
DECK	New	DECKERS OUTDOOR CORP	$91,624,993	–	173,644	–	2.32%	–
ROST	New	ROSS STORES INC	$91,066,155	–	812,148	–	2.31%	–
MUSA	New	MURPHY USA INC	$90,055,456	–	289,465	–	2.28%	–
PPG	New	PPG INDS INC	$87,464,967	–	589,784	–	2.22%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$85,745,293	–	348,374	–	2.18%	–
HON	New	HONEYWELL INTL INC	$81,075,438	–	390,725	–	2.06%	–
MCO	New	MOODYS CORP	$79,801,740	–	229,500	–	2.02%	–
IT	New	GARTNER INC	$74,236,995	–	211,918	–	1.88%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$73,664,282	–	505,936	–	1.87%	–
LOW	New	LOWES COS INC	$70,139,209	–	310,763	–	1.78%	–
LULU	New	LULULEMON ATHLETICA INC	$69,698,504	–	184,144	–	1.77%	–
INTU	New	INTUIT	$65,572,487	–	143,112	–	1.66%	–
PTC	New	PTC INC	$65,177,100	–	458,026	–	1.65%	–
TXRH	New	TEXAS ROADHOUSE INC	$64,570,768	–	575,087	–	1.64%	–
CI	New	THE CIGNA GROUP	$63,773,646	–	227,276	–	1.62%	–
CSX	New	CSX CORP	$62,882,480	–	1,844,061	–	1.60%	–
ECL	New	ECOLAB INC	$61,329,345	–	328,509	–	1.56%	–
CRM	New	SALESFORCE INC	$53,235,619	–	251,991	–	1.35%	–
BURL	New	BURLINGTON STORES INC	$53,176,572	–	337,865	–	1.35%	–
ARES	New	ARES MANAGEMENT CORPORATION	$52,416,134	–	544,018	–	1.33%	–
GPN	New	GLOBAL PMTS INC	$51,198,085	–	519,672	–	1.30%	–
WH	New	WYNDHAM HOTELS & RESORTS INC	$48,578,348	–	708,449	–	1.23%	–
VVV	New	VALVOLINE INC	$47,344,072	–	1,262,172	–	1.20%	–
EHC	New	ENCOMPASS HEALTH CORP	$47,295,232	–	698,497	–	1.20%	–
RE	New	EVEREST RE GROUP LTD	$45,441,741	–	132,925	–	1.15%	–
ARMK	New	ARAMARK	$44,628,299	–	1,036,662	–	1.13%	–
V	New	VISA INC	$44,252,498	–	186,342	–	1.12%	–
AMZN	New	AMAZON COM INC	$43,376,638	–	332,745	–	1.10%	–
MSFT	New	MICROSOFT CORP	$43,137,564	–	126,674	–	1.09%	–
IBKR	New	INTERACTIVE BROKERS GROUP IN	$42,836,458	–	515,667	–	1.09%	–
FB	New	META PLATFORMS INCcl a	$41,358,697	–	144,117	–	1.05%	–
ANTM	New	ELEVANCE HEALTH INC	$41,298,088	–	92,953	–	1.05%	–
AMG	New	AFFILIATED MANAGERS GROUP IN	$36,972,467	–	246,664	–	0.94%	–
THC	New	TENET HEALTHCARE CORP	$35,040,356	–	430,577	–	0.89%	–
ULTA	New	ULTA BEAUTY INC	$34,839,089	–	74,032	–	0.88%	–
TRV	New	TRAVELERS COMPANIES INC	$34,464,911	–	198,462	–	0.87%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$31,783,082	–	201,452	–	0.81%	–
ATVI	New	ACTIVISION BLIZZARD INC	$30,991,378	–	367,632	–	0.79%	–
WWE	New	WORLD WRESTLING ENTMT INCcl a	$30,630,084	–	282,383	–	0.78%	–
CPNG	New	COUPANG INCcl a	$26,458,945	–	1,520,629	–	0.67%	–
RNR	New	RENAISSANCERE HLDGS LTD	$25,853,351	–	138,609	–	0.66%	–
M	New	MACYS INC	$25,766,397	–	1,605,383	–	0.65%	–
EAT	New	BRINKER INTL INC	$24,425,632	–	667,367	–	0.62%	–
EXLS	New	EXLSERVICE HOLDINGS INC	$23,606,599	–	156,273	–	0.60%	–
OMC	New	OMNICOM GROUP INC	$23,525,552	–	247,247	–	0.60%	–
WDAY	New	WORKDAY INCcl a	$22,838,383	–	101,104	–	0.58%	–
AMT	New	AMERICAN TOWER CORP NEW	$22,664,410	–	116,863	–	0.58%	–
BKNG	New	BOOKING HOLDINGS INC	$21,667,448	–	8,024	–	0.55%	–
WMG	New	WARNER MUSIC GROUP CORP	$21,221,945	–	813,413	–	0.54%	–
DKS	New	DICKS SPORTING GOODS INC	$19,864,456	–	150,272	–	0.50%	–
CHKP	New	CHECK POINT SOFTWARE TECH LTord	$16,951,288	–	134,941	–	0.43%	–
OLLI	New	OLLIES BARGAIN OUTLET HLDGS	$15,308,118	–	264,252	–	0.39%	–
GWRE	New	GUIDEWIRE SOFTWARE INC	$11,704,528	–	153,845	–	0.30%	–
GLOB	New	GLOBANT S A	$11,715,408	–	65,187	–	0.30%	–
SEAS	New	SEAWORLD ENTMT INC	$11,671,308	–	208,379	–	0.30%	–
CTAS	New	CINTAS CORP	$6,285,080	–	12,644	–	0.16%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$5,109,550	–	84,316	–	0.13%	–

Q4 2022

			Value		Shares		↓ Weighting
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-87,719	–	-0.20%	–
JD	Exit	JD.COM INCspon adr cl a	$0	–	-143,667	–	-0.20%	–
EAT	Exit	BRINKER INTL INC	$0	–	-315,192	–	-0.22%	–
ACHC	Exit	ACADIA HEALTHCARE COMPANY IN	$0	–	-120,883	–	-0.26%	–
PINS	Exit	PINTEREST INCcl a	$0	–	-465,618	–	-0.30%	–
EXPE	Exit	EXPEDIA GROUP INC	$0	–	-137,258	–	-0.36%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-508,811	–	-0.38%	–
DIS	Exit	DISNEY WALT CO	$0	–	-151,957	–	-0.40%	–
FAST	Exit	FASTENAL CO	$0	–	-319,362	–	-0.41%	–
ELY	Exit	TOPGOLF CALLAWAY BRANDS CORP	$0	–	-810,859	–	-0.43%	–
PTC	Exit	PTC INC	$0	–	-162,241	–	-0.47%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-155,664	–	-0.47%	–
FOXA	Exit	FOX CORP	$0	–	-588,127	–	-0.50%	–
TYL	Exit	TYLER TECHNOLOGIES INC	$0	–	-53,319	–	-0.52%	–
CNK	Exit	CINEMARK HLDGS INC	$0	–	-1,649,514	–	-0.56%	–
FB	Exit	META PLATFORMS INCcl a	$0	–	-151,283	–	-0.57%	–
EQIX	Exit	EQUINIX INC	$0	–	-36,192	–	-0.57%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-342,758	–	-0.60%	–
KR	Exit	KROGER CO	$0	–	-523,206	–	-0.64%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-490,763	–	-0.65%	–
MCK	Exit	MCKESSON CORP	$0	–	-72,246	–	-0.68%	–
NDAQ	Exit	NASDAQ INC	$0	–	-469,924	–	-0.74%	–
ALLE	Exit	ALLEGION PLC	$0	–	-306,221	–	-0.76%	–
SBAC	Exit	SBA COMMUNICATIONS CORP NEWcl a	$0	–	-96,937	–	-0.77%	–
CTAS	Exit	CINTAS CORP	$0	–	-71,994	–	-0.78%	–
HUM	Exit	HUMANA INC	$0	–	-59,722	–	-0.80%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-114,051	–	-0.82%	–
VVV	Exit	VALVOLINE INC	$0	–	-1,163,393	–	-0.82%	–
ARES	Exit	ARES MANAGEMENT CORPORATION	$0	–	-476,100	–	-0.82%	–
BOOT	Exit	BOOT BARN HLDGS INC	$0	–	-516,247	–	-0.84%	–
CRM	Exit	SALESFORCE INC	$0	–	-212,316	–	-0.85%	–
HCA	Exit	HCA HEALTHCARE INC	$0	–	-182,983	–	-0.94%	–
RACE	Exit	FERRARI N V	$0	–	-206,560	–	-1.06%	–
DPZ	Exit	DOMINOS PIZZA INC	$0	–	-125,703	–	-1.08%	–
KKR	Exit	KKR & CO INC	$0	–	-916,374	–	-1.10%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-295,833	–	-1.10%	–
ANTM	Exit	ELEVANCE HEALTH INC	$0	–	-90,888	–	-1.15%	–
BURL	Exit	BURLINGTON STORES INC	$0	–	-385,533	–	-1.20%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-254,044	–	-1.20%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-269,724	–	-1.24%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-660,269	–	-1.24%	–
MUSA	Exit	MURPHY USA INC	$0	–	-163,548	–	-1.25%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-1,252,225	–	-1.32%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-363,400	–	-1.36%	–
TT	Exit	TRANE TECHNOLOGIES PLC	$0	–	-343,605	–	-1.38%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-547,427	–	-1.38%	–
ARMK	Exit	ARAMARK	$0	–	-1,600,488	–	-1.39%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-311,595	–	-1.45%	–
TJX	Exit	TJX COS INC NEW	$0	–	-846,278	–	-1.46%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-226,500	–	-1.51%	–
WRB	Exit	BERKLEY W R CORP	$0	–	-859,782	–	-1.54%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-141,712	–	-1.58%	–
HD	Exit	HOME DEPOT INC	$0	–	-205,646	–	-1.58%	–
BRO	Exit	BROWN & BROWN INC	$0	–	-970,025	–	-1.63%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-798,968	–	-1.68%	–
LULU	Exit	LULULEMON ATHLETICA INC	$0	–	-217,541	–	-1.69%	–
V	Exit	VISA INC	$0	–	-344,847	–	-1.70%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-268,221	–	-1.74%	–
WFC	Exit	WELLS FARGO CO NEW	$0	–	-1,584,199	–	-1.77%	–
CB	Exit	CHUBB LIMITED	$0	–	-359,188	–	-1.82%	–
WCN	Exit	WASTE CONNECTIONS INC	$0	–	-484,188	–	-1.82%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-431,767	–	-1.83%	–
INTU	Exit	INTUIT	$0	–	-185,838	–	-2.00%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-697,393	–	-2.02%	–
DHI	Exit	D R HORTON INC	$0	–	-1,175,558	–	-2.20%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-895,429	–	-2.25%	–
ORLY	Exit	OREILLY AUTOMOTIVE INC	$0	–	-118,626	–	-2.32%	–
DECK	Exit	DECKERS OUTDOOR CORP	$0	–	-267,855	–	-2.33%	–
G	Exit	GENPACT LIMITED	$0	–	-1,964,365	–	-2.39%	–
MS	Exit	MORGAN STANLEY	$0	–	-1,094,015	–	-2.40%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-404,558	–	-2.46%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-597,986	–	-2.48%	–
TRI	Exit	THOMSON REUTERS CORP.	$0	–	-879,984	–	-2.51%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-227,635	–	-2.54%	–
WMT	Exit	WALMART INC	$0	–	-814,707	–	-2.94%	–
PGR	Exit	PROGRESSIVE CORP	$0	–	-1,095,672	–	-3.54%	–
AMZN	Exit	AMAZON COM INC	$0	–	-1,300,357	–	-4.08%	–

Q3 2022

			Value		Shares		↓ Weighting
AMZN	New	AMAZON COM INC	$146,940,000	–	1,300,357	–	4.08%	–
PGR	Buy	PROGRESSIVE CORP	$127,328,000	+226.4%	1,095,672	+226.5%	3.54%	+205.9%
WMT	Buy	WALMART INC	$105,667,000	+17.1%	814,707	+9.8%	2.94%	+9.8%
ULTA	Buy	ULTA BEAUTY INC	$91,325,000	+10.9%	227,635	+6.6%	2.54%	+4.0%
TRI	Buy	THOMSON REUTERS CORP.	$90,304,000	+80.5%	879,984	+83.3%	2.51%	+69.1%
MMC	Buy	MARSH & MCLENNAN COS INC	$89,273,000	+159.9%	597,986	+170.3%	2.48%	+143.7%
LPLA	Sell	LPL FINL HLDGS INC	$88,388,000	-24.2%	404,558	-36.0%	2.46%	-29.0%
MS	Buy	MORGAN STANLEY	$86,438,000	+142.0%	1,094,015	+133.0%	2.40%	+126.8%
G	Buy	GENPACT LIMITED	$85,980,000	+44.4%	1,964,365	+39.7%	2.39%	+35.3%
DECK	Sell	DECKERS OUTDOOR CORP	$83,734,000	-0.5%	267,855	-18.7%	2.33%	-6.7%
ORLY	Sell	OREILLY AUTOMOTIVE INC	$83,436,000	-7.0%	118,626	-16.5%	2.32%	-12.8%
ICE	New	INTERCONTINENTAL EXCHANGE IN	$80,902,000	–	895,429	–	2.25%	–
DHI	Buy	D R HORTON INC	$79,174,000	+99.7%	1,175,558	+96.3%	2.20%	+87.2%
JPM	New	JPMORGAN CHASE & CO	$72,878,000	–	697,393	–	2.02%	–
INTU	New	INTUIT	$71,979,000	–	185,838	–	2.00%	–
WDAY	Buy	WORKDAY INCcl a	$65,724,000	+352.3%	431,767	+314.7%	1.83%	+323.9%
WCN	Sell	WASTE CONNECTIONS INC	$65,428,000	-18.1%	484,188	-24.9%	1.82%	-23.3%
CB	New	CHUBB LIMITED	$65,329,000	–	359,188	–	1.82%	–
WFC	Buy	WELLS FARGO CO NEW	$63,716,000	+82.3%	1,584,199	+77.5%	1.77%	+70.9%
MSFT	Buy	MICROSOFT CORP	$62,469,000	+167.6%	268,221	+195.1%	1.74%	+150.9%
V	Buy	VISA INC	$61,262,000	+178.3%	344,847	+208.4%	1.70%	+160.8%
LULU	Sell	LULULEMON ATHLETICA INC	$60,816,000	-26.7%	217,541	-28.5%	1.69%	-31.2%
FIS	New	FIDELITY NATL INFORMATION SV	$60,378,000	–	798,968	–	1.68%	–
BRO	New	BROWN & BROWN INC	$58,667,000	–	970,025	–	1.63%	–
HD	New	HOME DEPOT INC	$56,746,000	–	205,646	–	1.58%	–
FDS	Buy	FACTSET RESH SYS INC	$56,700,000	+293.3%	141,712	+278.1%	1.58%	+269.1%
WRB	Buy	BERKLEY W R CORP	$55,525,000	+11.9%	859,782	+18.3%	1.54%	+4.9%
DG	Sell	DOLLAR GEN CORP NEW	$54,328,000	-5.8%	226,500	-3.6%	1.51%	-11.6%
TJX	Sell	TJX COS INC NEW	$52,571,000	-0.6%	846,278	-10.6%	1.46%	-6.8%
HON	New	HONEYWELL INTL INC	$52,027,000	–	311,595	–	1.45%	–
ARMK	New	ARAMARK	$49,935,000	–	1,600,488	–	1.39%	–
DFS	Buy	DISCOVER FINL SVCS	$49,772,000	+2.8%	547,427	+6.9%	1.38%	-3.7%
TT	New	TRANE TECHNOLOGIES PLC	$49,757,000	–	343,605	–	1.38%	–
AXP	Buy	AMERICAN EXPRESS CO	$49,026,000	+2.8%	363,400	+5.6%	1.36%	-3.7%
VZ	New	VERIZON COMMUNICATIONS INC	$47,547,000	–	1,252,225	–	1.32%	–
MUSA	Sell	MURPHY USA INC	$44,961,000	-23.5%	163,548	-35.2%	1.25%	-28.3%
CBRE	New	CBRE GROUP INCcl a	$44,575,000	–	660,269	–	1.24%	–
VEEV	Buy	VEEVA SYS INC	$44,472,000	+107.2%	269,724	+148.8%	1.24%	+94.3%
VRSK	Sell	VERISK ANALYTICS INC	$43,322,000	-41.9%	254,044	-41.1%	1.20%	-45.6%
BURL	Buy	BURLINGTON STORES INC	$43,137,000	+6.4%	385,533	+29.6%	1.20%	-0.2%
ANTM	Sell	ELEVANCE HEALTH INC	$41,285,000	-35.7%	90,888	-31.6%	1.15%	-39.7%
TMUS	Sell	T-MOBILE US INC	$39,692,000	-32.9%	295,833	-32.7%	1.10%	-37.2%
KKR	New	KKR & CO INC	$39,404,000	–	916,374	–	1.10%	–
DPZ	Buy	DOMINOS PIZZA INC	$38,993,000	+58.5%	125,703	+99.1%	1.08%	+48.7%
RACE	New	FERRARI N V	$38,214,000	–	206,560	–	1.06%	–
HCA	New	HCA HEALTHCARE INC	$33,630,000	–	182,983	–	0.94%	–
CRM	Buy	SALESFORCE INC	$30,540,000	+83.4%	212,316	+110.4%	0.85%	+71.9%
BOOT	New	BOOT BARN HLDGS INC	$30,180,000	–	516,247	–	0.84%	–
ARES	Sell	ARES MANAGEMENT CORPORATION	$29,494,000	-27.8%	476,100	-33.7%	0.82%	-32.3%
VVV	New	VALVOLINE INC	$29,480,000	–	1,163,393	–	0.82%	–
ACN	New	ACCENTURE PLC IRELAND	$29,345,000	–	114,051	–	0.82%	–
HUM	New	HUMANA INC	$28,977,000	–	59,722	–	0.80%	–
CTAS	New	CINTAS CORP	$27,947,000	–	71,994	–	0.78%	–
SBAC	New	SBA COMMUNICATIONS CORP NEWcl a	$27,593,000	–	96,937	–	0.77%	–
ALLE	Sell	ALLEGION PLC	$27,462,000	-60.5%	306,221	-56.8%	0.76%	-62.9%
NDAQ	New	NASDAQ INC	$26,635,000	–	469,924	–	0.74%	–
MCK	New	MCKESSON CORP	$24,554,000	–	72,246	–	0.68%	–
MTCH	New	MATCH GROUP INC NEW	$23,434,000	–	490,763	–	0.65%	–
KR	New	KROGER CO	$22,890,000	–	523,206	–	0.64%	–
OMC	New	OMNICOM GROUP INC	$21,625,000	–	342,758	–	0.60%	–
EQIX	Buy	EQUINIX INC	$20,587,000	-10.7%	36,192	+3.2%	0.57%	-16.3%
FB	Buy	META PLATFORMS INCcl a	$20,526,000	+25.3%	151,283	+48.9%	0.57%	+17.3%
CNK	Buy	CINEMARK HLDGS INC	$19,976,000	+201.5%	1,649,514	+274.0%	0.56%	+183.2%
TYL	Sell	TYLER TECHNOLOGIES INC	$18,528,000	-32.7%	53,319	-35.6%	0.52%	-36.9%
FOXA	New	FOX CORP	$18,044,000	–	588,127	–	0.50%	–
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAR	$16,967,000	-62.0%	155,664	-57.2%	0.47%	-64.3%
PTC	Sell	PTC INC	$16,970,000	-43.2%	162,241	-42.2%	0.47%	-46.7%
ELY	New	TOPGOLF CALLAWAY BRANDS CORP	$15,617,000	–	810,859	–	0.43%	–
FAST	New	FASTENAL CO	$14,703,000	–	319,362	–	0.41%	–
DIS	Buy	DISNEY WALT CO	$14,334,000	+130.0%	151,957	+130.2%	0.40%	+115.1%
UBER	New	UBER TECHNOLOGIES INC	$13,483,000	–	508,811	–	0.38%	–
EXPE	New	EXPEDIA GROUP INC	$12,860,000	–	137,258	–	0.36%	–
PINS	New	PINTEREST INCcl a	$10,849,000	–	465,618	–	0.30%	–
ACHC	New	ACADIA HEALTHCARE COMPANY IN	$9,451,000	–	120,883	–	0.26%	–
EAT	New	BRINKER INTL INC	$7,873,000	–	315,192	–	0.22%	–
JD	Buy	JD.COM INCspon adr cl a	$7,226,000	+13.4%	143,667	+44.8%	0.20%	+6.3%
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$7,017,000	–	87,719	–	0.20%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-14,760	–	-0.20%	–
PDD	Exit	PINDUODUO INCsponsored ads	$0	–	-119,461	–	-0.22%	–
ZI	Exit	ZOOMINFO TECHNOLOGIES INC	$0	–	-290,011	–	-0.29%	–
IPG	Exit	INTERPUBLIC GROUP COS INC	$0	–	-449,897	–	-0.37%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-316,670	–	-0.37%	–
ADBE	Exit	ADOBE SYSTEMS INCORPORATED	$0	–	-42,680	–	-0.46%	–
THC	Exit	TENET HEALTHCARE CORP	$0	–	-298,221	–	-0.46%	–
RJF	Exit	RAYMOND JAMES FINL INC	$0	–	-217,804	–	-0.58%	–
MNST	Exit	MONSTER BEVERAGE CORP NEW	$0	–	-271,517	–	-0.75%	–
T	Exit	AT&T INC	$0	–	-1,261,236	–	-0.78%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-829,561	–	-0.88%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-212,049	–	-0.90%	–
FERG	Exit	FERGUSON PLC NEW	$0	–	-365,238	–	-1.20%	–
ORCL	Exit	ORACLE CORP	$0	–	-596,363	–	-1.24%	–
FICO	Exit	FAIR ISAAC CORP	$0	–	-104,856	–	-1.25%	–
TOL	Exit	TOLL BROTHERS INC	$0	–	-954,160	–	-1.26%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-129,999	–	-1.30%	–
TW	Exit	TRADEWEB MKTS INCcl a	$0	–	-668,385	–	-1.35%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-86,483	–	-1.38%	–
MCD	Exit	MCDONALDS CORP	$0	–	-207,138	–	-1.52%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-29,978	–	-1.56%	–
FISV	Exit	FISERV INC	$0	–	-592,369	–	-1.56%	–
AFG	Exit	AMERICAN FINL GROUP INC OHIO	$0	–	-399,453	–	-1.64%	–
RTX	Exit	RAYTHEON TECHNOLOGIES CORP	$0	–	-696,663	–	-1.98%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-507,869	–	-2.17%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-349,654	–	-2.42%	–
IT	Exit	GARTNER INC	$0	–	-346,915	–	-2.49%	–
AJG	Exit	GALLAGHER ARTHUR J & CO	$0	–	-523,479	–	-2.53%	–
LDOS	Exit	LEIDOS HOLDINGS INC	$0	–	-858,976	–	-2.56%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-453,015	–	-2.60%	–
CNC	Exit	CENTENE CORP DEL	$0	–	-1,054,777	–	-2.65%	–
BLK	Exit	BLACKROCK INC	$0	–	-184,254	–	-3.33%	–

Q2 2022

			Value		Shares		↓ Weighting
LPLA	New	LPL FINL HLDGS INC	$116,609,000	–	632,093	–	3.46%	–
BLK	New	BLACKROCK INC	$112,218,000	–	184,254	–	3.33%	–
WMT	New	WALMART INC	$90,229,000	–	742,138	–	2.68%	–
ORLY	New	OREILLY AUTOMOTIVE INC	$89,700,000	–	141,985	–	2.66%	–
CNC	New	CENTENE CORP DEL	$89,245,000	–	1,054,777	–	2.65%	–
TSCO	New	TRACTOR SUPPLY CO	$87,817,000	–	453,015	–	2.60%	–
LDOS	New	LEIDOS HOLDINGS INC	$86,507,000	–	858,976	–	2.56%	–
AJG	New	GALLAGHER ARTHUR J & CO	$85,348,000	–	523,479	–	2.53%	–
DECK	New	DECKERS OUTDOOR CORP	$84,134,000	–	329,484	–	2.50%	–
IT	New	GARTNER INC	$83,894,000	–	346,915	–	2.49%	–
LULU	New	LULULEMON ATHLETICA INC	$82,914,000	–	304,149	–	2.46%	–
ULTA	New	ULTA BEAUTY INC	$82,327,000	–	213,571	–	2.44%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$81,490,000	–	349,654	–	2.42%	–
WCN	New	WASTE CONNECTIONS INC	$79,912,000	–	644,662	–	2.37%	–
VRSK	New	VERISK ANALYTICS INC	$74,618,000	–	431,092	–	2.21%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$73,235,000	–	507,869	–	2.17%	–
ALLE	New	ALLEGION PLC	$69,440,000	–	709,292	–	2.06%	–
RTX	New	RAYTHEON TECHNOLOGIES CORP	$66,956,000	–	696,663	–	1.98%	–
ANTM	New	ELEVANCE HEALTH INC	$64,162,000	–	132,956	–	1.90%	–
G	New	GENPACT LIMITED	$59,559,000	–	1,406,009	–	1.77%	–
TMUS	New	T-MOBILE US INC	$59,180,000	–	439,867	–	1.76%	–
MUSA	New	MURPHY USA INC	$58,753,000	–	252,301	–	1.74%	–
DG	New	DOLLAR GEN CORP NEW	$57,643,000	–	234,855	–	1.71%	–
AFG	New	AMERICAN FINL GROUP INC OHIO	$55,448,000	–	399,453	–	1.64%	–
TJX	New	TJX COS INC NEW	$52,879,000	–	946,804	–	1.57%	–
FISV	New	FISERV INC	$52,703,000	–	592,369	–	1.56%	–
BKNG	New	BOOKING HOLDINGS INC	$52,431,000	–	29,978	–	1.56%	–
MCD	New	MCDONALDS CORP	$51,138,000	–	207,138	–	1.52%	–
TRI	New	THOMSON REUTERS CORP.	$50,042,000	–	480,206	–	1.48%	–
WRB	New	BERKLEY W R CORP	$49,616,000	–	726,867	–	1.47%	–
DFS	New	DISCOVER FINL SVCS	$48,432,000	–	512,072	–	1.44%	–
AXP	New	AMERICAN EXPRESS CO	$47,707,000	–	344,154	–	1.41%	–
TDG	New	TRANSDIGM GROUP INC	$46,413,000	–	86,483	–	1.38%	–
TW	New	TRADEWEB MKTS INCcl a	$45,617,000	–	668,385	–	1.35%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$44,599,000	–	363,986	–	1.32%	–
SPGI	New	S&P GLOBAL INC	$43,817,000	–	129,999	–	1.30%	–
TOL	New	TOLL BROTHERS INC	$42,556,000	–	954,160	–	1.26%	–
FICO	New	FAIR ISAAC CORP	$42,037,000	–	104,856	–	1.25%	–
ORCL	New	ORACLE CORP	$41,668,000	–	596,363	–	1.24%	–
ARES	New	ARES MANAGEMENT CORPORATION	$40,853,000	–	718,485	–	1.21%	–
BURL	New	BURLINGTON STORES INC	$40,537,000	–	297,562	–	1.20%	–
FERG	New	FERGUSON PLC NEW	$40,435,000	–	365,238	–	1.20%	–
DHI	New	D R HORTON INC	$39,643,000	–	598,920	–	1.18%	–
PGR	New	PROGRESSIVE CORP	$39,012,000	–	335,530	–	1.16%	–
MS	New	MORGAN STANLEY	$35,714,000	–	469,546	–	1.06%	–
WFC	New	WELLS FARGO CO NEW	$34,957,000	–	892,435	–	1.04%	–
MMC	New	MARSH & MCLENNAN COS INC	$34,351,000	–	221,262	–	1.02%	–
PG	New	PROCTER AND GAMBLE CO	$30,491,000	–	212,049	–	0.90%	–
PTC	New	PTC INC	$29,862,000	–	280,816	–	0.88%	–
CARR	New	CARRIER GLOBAL CORPORATION	$29,582,000	–	829,561	–	0.88%	–
TYL	New	TYLER TECHNOLOGIES INC	$27,533,000	–	82,812	–	0.82%	–
T	New	AT&T INC	$26,436,000	–	1,261,236	–	0.78%	–
MNST	New	MONSTER BEVERAGE CORP NEW	$25,170,000	–	271,517	–	0.75%	–
DPZ	New	DOMINOS PIZZA INC	$24,599,000	–	63,122	–	0.73%	–
MSFT	New	MICROSOFT CORP	$23,344,000	–	90,893	–	0.69%	–
EQIX	New	EQUINIX INC	$23,042,000	–	35,071	–	0.68%	–
V	New	VISA INC	$22,015,000	–	111,815	–	0.65%	–
VEEV	New	VEEVA SYS INC	$21,465,000	–	108,389	–	0.64%	–
RJF	New	RAYMOND JAMES FINL INC	$19,474,000	–	217,804	–	0.58%	–
CRM	New	SALESFORCE INC	$16,653,000	–	100,905	–	0.49%	–
FB	New	META PLATFORMS INCcl a	$16,388,000	–	101,628	–	0.49%	–
THC	New	TENET HEALTHCARE CORP	$15,674,000	–	298,221	–	0.46%	–
ADBE	New	ADOBE SYSTEMS INCORPORATED	$15,623,000	–	42,680	–	0.46%	–
WDAY	New	WORKDAY INCcl a	$14,531,000	–	104,108	–	0.43%	–
FDS	New	FACTSET RESH SYS INC	$14,415,000	–	37,484	–	0.43%	–
CMCSA	New	COMCAST CORP NEWcl a	$12,426,000	–	316,670	–	0.37%	–
IPG	New	INTERPUBLIC GROUP COS INC	$12,386,000	–	449,897	–	0.37%	–
ZI	New	ZOOMINFO TECHNOLOGIES INC	$9,640,000	–	290,011	–	0.29%	–
PDD	New	PINDUODUO INCsponsored ads	$7,383,000	–	119,461	–	0.22%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$6,916,000	–	14,760	–	0.20%	–
CNK	New	CINEMARK HLDGS INC	$6,625,000	–	441,079	–	0.20%	–
JD	New	JD.COM INCspon adr cl a	$6,371,000	–	99,206	–	0.19%	–
DIS	New	DISNEY WALT CO	$6,231,000	–	66,010	–	0.18%	–

Q4 2021

			Value		Shares		↓ Weighting
CPRI	Exit	CAPRI HOLDINGS LIMITED	$0	–	-211,557	–	-0.32%	–
DKS	Exit	DICKS SPORTING GOODS INC	$0	–	-87,785	–	-0.33%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-86,137	–	-0.39%	–
CRI	Exit	CARTERS INC	$0	–	-137,314	–	-0.42%	–
SNAP	Exit	SNAP INCcl a	$0	–	-184,866	–	-0.43%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-107,085	–	-0.68%	–
DIS	Exit	DISNEY WALT CO	$0	–	-136,472	–	-0.73%	–
SMAR	Exit	SMARTSHEET INC	$0	–	-355,280	–	-0.77%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-246,636	–	-0.84%	–
	Exit	BATH & BODY WORKS INC	$0	–	-457,524	–	-0.91%	–
PEP	Exit	PEPSICO INC	$0	–	-192,118	–	-0.91%	–
STZ	Exit	CONSTELLATION BRANDS INCcl a	$0	–	-144,136	–	-0.96%	–
NFLX	Exit	NETFLIX INC	$0	–	-50,456	–	-0.97%	–
CARR	Exit	CARRIER GLOBAL CORPORATION	$0	–	-614,556	–	-1.00%	–
KR	Exit	KROGER CO	$0	–	-805,380	–	-1.03%	–
BMBL	Exit	BUMBLE INC	$0	–	-657,527	–	-1.04%	–
TGT	Exit	TARGET CORP	$0	–	-146,299	–	-1.06%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-622,048	–	-1.10%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-224,813	–	-1.11%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-110,224	–	-1.18%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-138,088	–	-1.18%	–
PVH	Exit	PVH CORPORATION	$0	–	-389,641	–	-1.26%	–
PG	Exit	PROCTER AND GAMBLE CO	$0	–	-308,212	–	-1.36%	–
BKI	Exit	BLACK KNIGHT INC	$0	–	-600,428	–	-1.36%	–
MUSA	Exit	MURPHY USA INC	$0	–	-266,880	–	-1.41%	–
TOL	Exit	TOLL BROTHERS INC	$0	–	-815,556	–	-1.42%	–
EPAM	Exit	EPAM SYS INC	$0	–	-83,754	–	-1.51%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-375,011	–	-1.51%	–
PLAN	Exit	ANAPLAN INC	$0	–	-832,562	–	-1.60%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-270,446	–	-1.64%	–
IPG	Exit	INTERPUBLIC GROUP COS INC	$0	–	-1,441,457	–	-1.67%	–
CBRE	Exit	CBRE GROUP INCcl a	$0	–	-576,658	–	-1.77%	–
SBNY	Exit	SIGNATURE BK NEW YORK N Y	$0	–	-206,748	–	-1.78%	–
WCN	Exit	WASTE CONNECTIONS INC	$0	–	-457,669	–	-1.82%	–
INTU	Exit	INTUIT	$0	–	-109,248	–	-1.86%	–
TW	Exit	TRADEWEB MKTS INCcl a	$0	–	-739,468	–	-1.88%	–
TJX	Exit	TJX COS INC NEW	$0	–	-924,408	–	-1.92%	–
TDG	Exit	TRANSDIGM GROUP INC	$0	–	-101,513	–	-2.00%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-25,632	–	-2.16%	–
AJG	Exit	GALLAGHER ARTHUR J & CO	$0	–	-467,310	–	-2.19%	–
MS	Exit	MORGAN STANLEY	$0	–	-714,166	–	-2.19%	–
DECK	Exit	DECKERS OUTDOOR CORP	$0	–	-195,305	–	-2.22%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-273,107	–	-2.25%	–
ACN	Exit	ACCENTURE PLC IRELAND	$0	–	-229,878	–	-2.32%	–
ARES	Exit	ARES MANAGEMENT CORPORATION	$0	–	-1,011,385	–	-2.35%	–
VMC	Exit	VULCAN MATLS CO	$0	–	-444,222	–	-2.37%	–
KKR	Exit	KKR & CO INC	$0	–	-1,246,827	–	-2.39%	–
G	Exit	GENPACT LIMITED	$0	–	-1,681,871	–	-2.52%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-493,895	–	-2.61%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-355,591	–	-2.80%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-347,278	–	-3.09%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-1,559,817	–	-3.41%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-266,131	–	-3.56%	–
WMT	Exit	WALMART INC	$0	–	-878,587	–	-3.86%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-785,153	–	-3.88%	–
TRU	Exit	TRANSUNION	$0	–	-1,208,720	–	-4.28%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-1,223,039	–	-4.43%	–

Q3 2021

			Value		Shares		↓ Weighting
ICE	New	INTERCONTINENTAL EXCHANGE IN	$140,429,000	–	1,223,039	–	4.43%	–
TRU	Buy	TRANSUNION	$135,751,000	+60.5%	1,208,720	+56.9%	4.28%	+58.7%
LPLA	Buy	LPL FINL HLDGS INC	$123,081,000	+76.5%	785,153	+52.0%	3.88%	+74.5%
WMT	Buy	WALMART INC	$122,457,000	+22.7%	878,587	+24.2%	3.86%	+21.3%
SPGI	New	S&P GLOBAL INC	$113,076,000	–	266,131	–	3.56%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$108,251,000	–	1,559,817	–	3.41%	–
MSFT	Buy	MICROSOFT CORP	$97,905,000	+130.5%	347,278	+121.5%	3.09%	+128.0%
WDAY	Buy	WORKDAY INCcl a	$88,859,000	+318.8%	355,591	+300.1%	2.80%	+314.3%
AXP	New	AMERICAN EXPRESS CO	$82,742,000	–	493,895	–	2.61%	–
G	Buy	GENPACT LIMITED	$79,906,000	+28.0%	1,681,871	+22.4%	2.52%	+26.6%
KKR	Sell	KKR & CO INC	$75,907,000	-21.5%	1,246,827	-23.6%	2.39%	-22.4%
VMC	Buy	VULCAN MATLS CO	$75,145,000	+48.8%	444,222	+53.2%	2.37%	+47.1%
ARES	Sell	ARES MANAGEMENT CORPORATION	$74,671,000	+4.0%	1,011,385	-10.4%	2.35%	+2.8%
ACN	Sell	ACCENTURE PLC IRELAND	$73,543,000	-7.6%	229,878	-14.8%	2.32%	-8.6%
FLT	Buy	FLEETCOR TECHNOLOGIES INC	$71,355,000	+16.0%	273,107	+13.7%	2.25%	+14.7%
DECK	Sell	DECKERS OUTDOOR CORP	$70,349,000	-17.8%	195,305	-12.3%	2.22%	-18.7%
MS	Sell	MORGAN STANLEY	$69,495,000	-42.4%	714,166	-45.8%	2.19%	-43.1%
AJG	Buy	GALLAGHER ARTHUR J & CO	$69,466,000	+60.7%	467,310	+51.4%	2.19%	+58.9%
GOOGL	Buy	ALPHABET INCcap stk cl a	$68,528,000	+144.6%	25,632	+123.4%	2.16%	+141.9%
TDG	New	TRANSDIGM GROUP INC	$63,402,000	–	101,513	–	2.00%	–
TJX	New	TJX COS INC NEW	$60,992,000	–	924,408	–	1.92%	–
TW	Sell	TRADEWEB MKTS INCcl a	$59,734,000	-17.2%	739,468	-13.3%	1.88%	-18.1%
INTU	Sell	INTUIT	$58,940,000	-46.2%	109,248	-51.2%	1.86%	-46.9%
WCN	Sell	WASTE CONNECTIONS INC	$57,634,000	-15.3%	457,669	-19.7%	1.82%	-16.3%
SBNY	New	SIGNATURE BK NEW YORK N Y	$56,293,000	–	206,748	–	1.78%	–
CBRE	New	CBRE GROUP INCcl a	$56,143,000	–	576,658	–	1.77%	–
IPG	Buy	INTERPUBLIC GROUP COS INC	$52,858,000	+22.7%	1,441,457	+8.7%	1.67%	+21.3%
FRC	New	FIRST REP BK SAN FRANCISCO C	$52,164,000	–	270,446	–	1.64%	–
PLAN	Buy	ANAPLAN INC	$50,695,000	+58.5%	832,562	+38.7%	1.60%	+56.7%
TMUS	New	T-MOBILE US INC	$47,911,000	–	375,011	–	1.51%	–
EPAM	New	EPAM SYS INC	$47,780,000	–	83,754	–	1.51%	–
TOL	Buy	TOLL BROTHERS INC	$45,092,000	-1.4%	815,556	+3.1%	1.42%	-2.5%
MUSA	Sell	MURPHY USA INC	$44,638,000	+19.3%	266,880	-4.9%	1.41%	+17.9%
BKI	New	BLACK KNIGHT INC	$43,231,000	–	600,428	–	1.36%	–
PG	Buy	PROCTER AND GAMBLE CO	$43,088,000	+35.4%	308,212	+30.7%	1.36%	+33.8%
PVH	Buy	PVH CORPORATION	$40,051,000	+6.4%	389,641	+11.4%	1.26%	+5.2%
CRM	New	SALESFORCE COM INC	$37,452,000	–	138,088	–	1.18%	–
FB	Sell	FACEBOOK INCcl a	$37,409,000	-54.4%	110,224	-53.3%	1.18%	-54.9%
MTCH	New	MATCH GROUP INC NEW	$35,293,000	–	224,813	–	1.11%	–
CMCSA	Sell	COMCAST CORP NEWcl a	$34,791,000	-15.0%	622,048	-13.3%	1.10%	-15.9%
TGT	Sell	TARGET CORP	$33,469,000	-27.0%	146,299	-22.8%	1.06%	-27.8%
BMBL	New	BUMBLE INC	$32,863,000	–	657,527	–	1.04%	–
KR	New	KROGER CO	$32,562,000	–	805,380	–	1.03%	–
CARR	New	CARRIER GLOBAL CORPORATION	$31,809,000	–	614,556	–	1.00%	–
NFLX	New	NETFLIX INC	$30,795,000	–	50,456	–	0.97%	–
STZ	Sell	CONSTELLATION BRANDS INCcl a	$30,368,000	-54.9%	144,136	-50.0%	0.96%	-55.5%
PEP	Sell	PEPSICO INC	$28,896,000	-27.5%	192,118	-28.6%	0.91%	-28.3%
	New	BATH & BODY WORKS INC	$28,838,000	–	457,524	–	0.91%	–
NTRS	Sell	NORTHERN TR CORP	$26,590,000	-69.0%	246,636	-66.8%	0.84%	-69.4%
SMAR	Sell	SMARTSHEET INC	$24,450,000	-18.4%	355,280	-14.2%	0.77%	-19.3%
DIS	New	DISNEY WALT CO	$23,087,000	–	136,472	–	0.73%	–
TSCO	New	TRACTOR SUPPLY CO	$21,696,000	–	107,085	–	0.68%	–
SNAP	New	SNAP INCcl a	$13,656,000	–	184,866	–	0.43%	–
CRI	New	CARTERS INC	$13,352,000	–	137,314	–	0.42%	–
EA	New	ELECTRONIC ARTS INC	$12,253,000	–	86,137	–	0.39%	–
DKS	New	DICKS SPORTING GOODS INC	$10,514,000	–	87,785	–	0.33%	–
CPRI	Sell	CAPRI HOLDINGS LIMITED	$10,241,000	-64.4%	211,557	-57.9%	0.32%	-64.7%
JD	Exit	JD.COM INCspon adr cl a	$0	–	-141,899	–	-0.36%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-129,288	–	-0.89%	–
NTES	Exit	NETEASE INCsponsored ads	$0	–	-259,921	–	-0.96%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-176,694	–	-1.00%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-328,623	–	-1.00%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-168,710	–	-1.03%	–
LB	Exit	L BRANDS INC	$0	–	-471,952	–	-1.08%	–
SIVB	Exit	SVB FINANCIAL GROUP	$0	–	-62,181	–	-1.10%	–
FOUR	Exit	SHIFT4 PMTS INCcl a	$0	–	-412,808	–	-1.23%	–
HLT	Exit	HILTON WORLDWIDE HLDGS INC	$0	–	-348,866	–	-1.34%	–
SCHW	Exit	SCHWAB CHARLES CORP	$0	–	-604,858	–	-1.40%	–
ADSK	Exit	AUTODESK INC	$0	–	-160,916	–	-1.50%	–
HWM	Exit	HOWMET AEROSPACE INC	$0	–	-1,418,529	–	-1.56%	–
V	Exit	VISA INC	$0	–	-224,962	–	-1.68%	–
SYF	Exit	SYNCHRONY FINANCIAL	$0	–	-1,111,697	–	-1.72%	–
TRI	Exit	THOMSON REUTERS CORP.	$0	–	-563,330	–	-1.78%	–
IT	Exit	GARTNER INC	$0	–	-309,058	–	-2.39%	–
ZNGA	Exit	ZYNGA INCcl a	$0	–	-7,094,942	–	-2.40%	–
TT	Exit	TRANE TECHNOLOGIES PLC	$0	–	-484,949	–	-2.85%	–
AMZN	Exit	AMAZON COM INC	$0	–	-31,306	–	-3.43%	–
BLK	Exit	BLACKROCK INC	$0	–	-138,456	–	-3.86%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-1,205,253	–	-4.33%	–

Q2 2021

			Value		Shares		↓ Weighting
INFO	New	IHS MARKIT LTD	$135,784,000	–	1,205,253	–	4.33%	–
BLK	New	BLACKROCK INC	$121,145,000	–	138,456	–	3.86%	–
MS	New	MORGAN STANLEY	$120,720,000	–	1,316,605	–	3.85%	–
INTU	New	INTUIT	$109,632,000	–	223,662	–	3.50%	–
AMZN	New	AMAZON COM INC	$107,698,000	–	31,306	–	3.43%	–
WMT	New	WALMART INC	$99,783,000	–	707,579	–	3.18%	–
KKR	New	KKR & CO INC	$96,701,000	–	1,632,361	–	3.08%	–
TT	New	TRANE TECHNOLOGIES PLC	$89,299,000	–	484,949	–	2.85%	–
NTRS	New	NORTHERN TR CORP	$85,899,000	–	742,943	–	2.74%	–
DECK	New	DECKERS OUTDOOR CORP	$85,572,000	–	222,802	–	2.73%	–
TRU	New	TRANSUNION	$84,572,000	–	770,171	–	2.70%	–
FB	New	FACEBOOK INCcl a	$82,037,000	–	235,934	–	2.62%	–
ACN	New	ACCENTURE PLC IRELAND	$79,558,000	–	269,880	–	2.54%	–
ZNGA	New	ZYNGA INCcl a	$75,419,000	–	7,094,942	–	2.40%	–
IT	New	GARTNER INC	$74,854,000	–	309,058	–	2.39%	–
TW	New	TRADEWEB MKTS INCcl a	$72,110,000	–	852,768	–	2.30%	–
ARES	New	ARES MANAGEMENT CORPORATION	$71,813,000	–	1,129,307	–	2.29%	–
LPLA	New	LPL FINL HLDGS INC	$69,743,000	–	516,688	–	2.22%	–
WCN	New	WASTE CONNECTIONS INC	$68,070,000	–	569,961	–	2.17%	–
STZ	New	CONSTELLATION BRANDS INCcl a	$67,403,000	–	288,182	–	2.15%	–
G	New	GENPACT LIMITED	$62,414,000	–	1,373,857	–	1.99%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$61,515,000	–	240,238	–	1.96%	–
TRI	New	THOMSON REUTERS CORP.	$55,950,000	–	563,330	–	1.78%	–
SYF	New	SYNCHRONY FINANCIAL	$53,940,000	–	1,111,697	–	1.72%	–
V	New	VISA INC	$52,601,000	–	224,962	–	1.68%	–
VMC	New	VULCAN MATLS CO	$50,485,000	–	290,028	–	1.61%	–
HWM	New	HOWMET AEROSPACE INC	$48,897,000	–	1,418,529	–	1.56%	–
ADSK	New	AUTODESK INC	$46,971,000	–	160,916	–	1.50%	–
TGT	New	TARGET CORP	$45,836,000	–	189,609	–	1.46%	–
TOL	New	TOLL BROTHERS INC	$45,735,000	–	791,133	–	1.46%	–
SCHW	New	SCHWAB CHARLES CORP	$44,040,000	–	604,858	–	1.40%	–
AJG	New	GALLAGHER ARTHUR J & CO	$43,224,000	–	308,569	–	1.38%	–
IPG	New	INTERPUBLIC GROUP COS INC	$43,087,000	–	1,326,148	–	1.37%	–
MSFT	New	MICROSOFT CORP	$42,475,000	–	156,791	–	1.35%	–
HLT	New	HILTON WORLDWIDE HLDGS INC	$42,080,000	–	348,866	–	1.34%	–
CMCSA	New	COMCAST CORP NEWcl a	$40,910,000	–	717,469	–	1.30%	–
PEP	New	PEPSICO INC	$39,866,000	–	269,054	–	1.27%	–
FOUR	New	SHIFT4 PMTS INCcl a	$38,688,000	–	412,808	–	1.23%	–
PVH	New	PVH CORPORATION	$37,631,000	–	349,759	–	1.20%	–
MUSA	New	MURPHY USA INC	$37,429,000	–	280,637	–	1.19%	–
SIVB	New	SVB FINANCIAL GROUP	$34,599,000	–	62,181	–	1.10%	–
LB	New	L BRANDS INC	$34,009,000	–	471,952	–	1.08%	–
MHK	New	MOHAWK INDS INC	$32,424,000	–	168,710	–	1.03%	–
PLAN	New	ANAPLAN INC	$31,993,000	–	600,241	–	1.02%	–
PG	New	PROCTER AND GAMBLE CO	$31,819,000	–	235,817	–	1.02%	–
ATVI	New	ACTIVISION BLIZZARD INC	$31,364,000	–	328,623	–	1.00%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$31,278,000	–	176,694	–	1.00%	–
NTES	New	NETEASE INCsponsored ads	$29,956,000	–	259,921	–	0.96%	–
SMAR	New	SMARTSHEET INC	$29,955,000	–	414,203	–	0.96%	–
CPRI	New	CAPRI HOLDINGS LIMITED	$28,734,000	–	502,425	–	0.92%	–
GOOGL	New	ALPHABET INCcap stk cl a	$28,020,000	–	11,475	–	0.89%	–
DG	New	DOLLAR GEN CORP NEW	$27,977,000	–	129,288	–	0.89%	–
WDAY	New	WORKDAY INCcl a	$21,216,000	–	88,868	–	0.68%	–
JD	New	JD.COM INCspon adr cl a	$11,325,000	–	141,899	–	0.36%	–

Q4 2020

			Value		Shares		↓ Weighting
WHR	Exit	WHIRLPOOL CORP	$0	–	-95,441	–	-0.64%	–
DFS	Exit	DISCOVER FINL SVCS	$0	–	-313,184	–	-0.66%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-254,351	–	-0.68%	–
CPRI	Exit	CAPRI HOLDINGS LIMITED	$0	–	-1,059,193	–	-0.69%	–
K	Exit	KELLOGG CO	$0	–	-315,750	–	-0.74%	–
KKR	Exit	KKR & CO INC	$0	–	-788,653	–	-0.98%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-21,269	–	-1.13%	–
EVR	Exit	EVERCORE INCclass a	$0	–	-476,433	–	-1.13%	–
PLNT	Exit	PLANET FITNESS INCcl a	$0	–	-544,785	–	-1.22%	–
EBAY	Exit	EBAY INC.	$0	–	-755,317	–	-1.43%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-23,243	–	-1.44%	–
MTCH	Exit	MATCH GROUP INC NEW	$0	–	-370,055	–	-1.49%	–
AMZN	Exit	AMAZON COM INC	$0	–	-13,009	–	-1.49%	–
INTU	Exit	INTUIT	$0	–	-126,691	–	-1.50%	–
OC	Exit	OWENS CORNING NEW	$0	–	-619,243	–	-1.55%	–
ROST	Exit	ROSS STORES INC	$0	–	-462,028	–	-1.56%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-166,228	–	-1.58%	–
DECK	Exit	DECKERS OUTDOOR CORP	$0	–	-202,198	–	-1.62%	–
CTAS	Exit	CINTAS CORP	$0	–	-137,977	–	-1.67%	–
ARES	Exit	ARES MANAGEMENT CORPORATION	$0	–	-1,160,994	–	-1.70%	–
ZEN	Exit	ZENDESK INC	$0	–	-499,020	–	-1.86%	–
ENV	Exit	ENVESTNET INC	$0	–	-680,709	–	-1.91%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-1,156,529	–	-1.94%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-513,732	–	-2.03%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-296,910	–	-2.17%	–
EFX	Exit	EQUIFAX INC	$0	–	-386,323	–	-2.20%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-418,550	–	-2.24%	–
CROX	Exit	CROCS INC	$0	–	-1,493,277	–	-2.32%	–
CSGP	Exit	COSTAR GROUP INC	$0	–	-75,392	–	-2.32%	–
TGT	Exit	TARGET CORP	$0	–	-407,403	–	-2.33%	–
MS	Exit	MORGAN STANLEY	$0	–	-1,352,683	–	-2.38%	–
NICE	Exit	NICE LTDsponsored adr	$0	–	-296,388	–	-2.44%	–
LULU	Exit	LULULEMON ATHLETICA INC	$0	–	-204,532	–	-2.45%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-885,484	–	-2.46%	–
WCN	Exit	WASTE CONNECTIONS INC	$0	–	-679,436	–	-2.56%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-871,376	–	-2.56%	–
SWK	Exit	STANLEY BLACK & DECKER INC	$0	–	-448,337	–	-2.64%	–
V	Exit	VISA INC	$0	–	-382,433	–	-2.78%	–
AZO	Exit	AUTOZONE INC	$0	–	-73,966	–	-3.16%	–
MSCI	Exit	MSCI INC	$0	–	-246,568	–	-3.19%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-446,880	–	-3.41%	–
BLK	Exit	BLACKROCK INC	$0	–	-179,688	–	-3.68%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-1,506,351	–	-3.80%	–
YUMC	Exit	YUM CHINA HLDGS INC	$0	–	-2,000,937	–	-3.85%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-1,262,706	–	-3.94%	–
BKI	Exit	BLACK KNIGHT INC	$0	–	-1,262,821	–	-3.99%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-1,237,655	–	-4.50%	–

Q3 2020

			Value		Shares		↓ Weighting
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$123,827,000	+32.1%	1,237,655	+20.9%	4.50%	+12.1%
BKI	New	BLACK KNIGHT INC	$109,929,000	–	1,262,821	–	3.99%	–
SBUX	New	STARBUCKS CORP	$108,492,000	–	1,262,706	–	3.94%	–
YUMC	Buy	YUM CHINA HLDGS INC	$105,950,000	+645.3%	2,000,937	+576.7%	3.85%	+532.7%
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$104,571,000	–	1,506,351	–	3.80%	–
BLK	Buy	BLACKROCK INC	$101,263,000	+5.4%	179,688	+1.8%	3.68%	-10.5%
MSFT	Buy	MICROSOFT CORP	$93,992,000	+246.1%	446,880	+234.9%	3.41%	+194.0%
MSCI	Buy	MSCI INC	$87,971,000	+62.0%	246,568	+51.6%	3.19%	+37.6%
AZO	New	AUTOZONE INC	$87,105,000	–	73,966	–	3.16%	–
V	New	VISA INC	$76,475,000	–	382,433	–	2.78%	–
SWK	Sell	STANLEY BLACK & DECKER INC	$72,720,000	+4.2%	448,337	-10.4%	2.64%	-11.5%
WCN	Buy	WASTE CONNECTIONS INC	$70,525,000	+71.9%	679,436	+55.4%	2.56%	+46.0%
ATVI	Buy	ACTIVISION BLIZZARD INC	$70,538,000	+64.6%	871,376	+54.4%	2.56%	+39.8%
LPLA	Buy	LPL FINL HLDGS INC	$67,890,000	+35.7%	885,484	+38.8%	2.46%	+15.2%
LULU	New	LULULEMON ATHLETICA INC	$67,367,000	–	204,532	–	2.45%	–
NICE	Buy	NICE LTDsponsored adr	$67,289,000	+35.2%	296,388	+12.7%	2.44%	+14.8%
MS	Sell	MORGAN STANLEY	$65,402,000	-26.8%	1,352,683	-26.9%	2.38%	-37.8%
TGT	Sell	TARGET CORP	$64,133,000	+21.8%	407,403	-7.2%	2.33%	+3.4%
CSGP	New	COSTAR GROUP INC	$63,971,000	–	75,392	–	2.32%	–
CROX	Buy	CROCS INC	$63,808,000	+28.5%	1,493,277	+10.7%	2.32%	+9.1%
FIS	New	FIDELITY NATL INFORMATION SV	$61,615,000	–	418,550	–	2.24%	–
EFX	New	EQUIFAX INC	$60,614,000	–	386,323	–	2.20%	–
GS	New	GOLDMAN SACHS GROUP INC	$59,670,000	–	296,910	–	2.17%	–
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$56,028,000	-5.5%	513,732	-8.1%	2.03%	-19.7%
CMCSA	New	COMCAST CORP NEWcl a	$53,501,000	–	1,156,529	–	1.94%	–
ENV	New	ENVESTNET INC	$52,524,000	–	680,709	–	1.91%	–
ZEN	New	ZENDESK INC	$51,359,000	–	499,020	–	1.86%	–
ARES	Buy	ARES MANAGEMENT CORPORATION	$46,927,000	+14.7%	1,160,994	+12.6%	1.70%	-2.6%
CTAS	New	CINTAS CORP	$45,923,000	–	137,977	–	1.67%	–
DECK	Buy	DECKERS OUTDOOR CORP	$44,486,000	+137.1%	202,198	+111.7%	1.62%	+101.4%
FB	New	FACEBOOK INCcl a	$43,535,000	–	166,228	–	1.58%	–
ROST	Sell	ROSS STORES INC	$43,116,000	+2.2%	462,028	-6.6%	1.56%	-13.2%
OC	Buy	OWENS CORNING NEW	$42,610,000	+183.2%	619,243	+129.5%	1.55%	+140.6%
INTU	Buy	INTUIT	$41,328,000	+29.3%	126,691	+17.4%	1.50%	+9.8%
AMZN	Buy	AMAZON COM INC	$40,962,000	+129.8%	13,009	+101.3%	1.49%	+95.1%
MTCH	New	MATCH GROUP INC NEW	$40,947,000	–	370,055	–	1.49%	–
BKNG	New	BOOKING HOLDINGS INC	$39,761,000	–	23,243	–	1.44%	–
EBAY	New	EBAY INC.	$39,352,000	–	755,317	–	1.43%	–
PLNT	New	PLANET FITNESS INCcl a	$33,570,000	–	544,785	–	1.22%	–
EVR	New	EVERCORE INCclass a	$31,187,000	–	476,433	–	1.13%	–
GOOGL	New	ALPHABET INCcap stk cl a	$31,172,000	–	21,269	–	1.13%	–
KKR	Sell	KKR & CO INC	$27,082,000	-46.2%	788,653	-51.6%	0.98%	-54.4%
K	New	KELLOGG CO	$20,394,000	–	315,750	–	0.74%	–
CPRI	New	CAPRI HOLDINGS LIMITED	$19,065,000	–	1,059,193	–	0.69%	–
MAN	New	MANPOWERGROUP INC	$18,652,000	–	254,351	–	0.68%	–
DFS	Sell	DISCOVER FINL SVCS	$18,096,000	-57.0%	313,184	-62.8%	0.66%	-63.5%
WHR	New	WHIRLPOOL CORP	$17,551,000	–	95,441	–	0.64%	–
NFLX	Exit	NETFLIX INC	$0	–	-4,994	–	-0.10%	–
JKHY	Exit	HENRY JACK & ASSOC INC	$0	–	-23,688	–	-0.19%	–
CDW	Exit	CDW CORP	$0	–	-65,780	–	-0.33%	–
HD	Exit	HOME DEPOT INC	$0	–	-33,012	–	-0.35%	–
LYFT	Exit	LYFT INC	$0	–	-451,526	–	-0.64%	–
MTCH	Exit	MATCH GROUP INC	$0	–	-173,071	–	-0.79%	–
SNAP	Exit	SNAP INCcl a	$0	–	-832,363	–	-0.84%	–
FIVN	Exit	FIVE9 INC	$0	–	-204,257	–	-0.97%	–
BBBY	Exit	BED BATH & BEYOND INC	$0	–	-2,144,102	–	-0.97%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-44,972	–	-0.98%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-173,609	–	-1.04%	–
ECL	Exit	ECOLAB INC	$0	–	-163,219	–	-1.39%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-283,340	–	-1.60%	–
OMC	Exit	OMNICOM GROUP INC	$0	–	-770,015	–	-1.80%	–
MUSA	Exit	MURPHY USA INC	$0	–	-374,477	–	-1.80%	–
BLL	Exit	BALL CORP	$0	–	-627,939	–	-1.87%	–
DNKN	Exit	DUNKIN BRANDS GROUP INC	$0	–	-673,269	–	-1.88%	–
TROW	Exit	PRICE T ROWE GROUP INC	$0	–	-397,154	–	-2.10%	–
ORLY	Exit	OREILLY AUTOMOTIVE INC	$0	–	-149,092	–	-2.69%	–
MCO	Exit	MOODYS CORP	$0	–	-235,780	–	-2.77%	–
FLT	Exit	FLEETCOR TECHNOLOGIES INC	$0	–	-262,395	–	-2.82%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-1,291,579	–	-3.12%	–
TRU	Exit	TRANSUNION	$0	–	-853,544	–	-3.18%	–
FIVE	Exit	FIVE BELOW INC	$0	–	-790,193	–	-3.61%	–
YUM	Exit	YUM BRANDS INC	$0	–	-1,046,042	–	-3.89%	–
COST	Exit	COSTCO WHSL CORP NEW	$0	–	-313,078	–	-4.06%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-1,419,594	–	-4.58%	–
FISV	Exit	FISERV INC	$0	–	-1,153,412	–	-4.81%	–

Q2 2020

			Value		Shares		↓ Weighting
FISV	New	FISERV INC	$112,596,000	–	1,153,412	–	4.81%	–
INFO	New	IHS MARKIT LTD	$107,179,000	–	1,419,594	–	4.58%	–
BLK	New	BLACKROCK INC	$96,068,000	–	176,566	–	4.11%	–
COST	New	COSTCO WHSL CORP NEW	$94,928,000	–	313,078	–	4.06%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$93,753,000	–	1,023,505	–	4.01%	–
YUM	New	YUM BRANDS INC	$90,912,000	–	1,046,042	–	3.89%	–
MS	New	MORGAN STANLEY	$89,373,000	–	1,850,370	–	3.82%	–
FIVE	New	FIVE BELOW INC	$84,480,000	–	790,193	–	3.61%	–
TRU	New	TRANSUNION	$74,292,000	–	853,544	–	3.18%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$72,948,000	–	1,291,579	–	3.12%	–
SWK	New	STANLEY BLACK & DECKER INC	$69,775,000	–	500,607	–	2.98%	–
FLT	New	FLEETCOR TECHNOLOGIES INC	$66,000,000	–	262,395	–	2.82%	–
MCO	New	MOODYS CORP	$64,776,000	–	235,780	–	2.77%	–
ORLY	New	OREILLY AUTOMOTIVE INC	$62,868,000	–	149,092	–	2.69%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$59,261,000	–	559,117	–	2.53%	–
MSCI	New	MSCI INC	$54,303,000	–	162,672	–	2.32%	–
TGT	New	TARGET CORP	$52,660,000	–	439,089	–	2.25%	–
KKR	New	KKR & CO INC	$50,368,000	–	1,631,100	–	2.15%	–
LPLA	New	LPL FINL HLDGS INC	$50,031,000	–	638,152	–	2.14%	–
NICE	New	NICE LTDsponsored adr	$49,774,000	–	263,019	–	2.13%	–
CROX	New	CROCS INC	$49,670,000	–	1,349,003	–	2.12%	–
TROW	New	PRICE T ROWE GROUP INC	$49,049,000	–	397,154	–	2.10%	–
DNKN	New	DUNKIN BRANDS GROUP INC	$43,917,000	–	673,269	–	1.88%	–
BLL	New	BALL CORP	$43,635,000	–	627,939	–	1.87%	–
ATVI	New	ACTIVISION BLIZZARD INC	$42,844,000	–	564,480	–	1.83%	–
ROST	New	ROSS STORES INC	$42,176,000	–	494,797	–	1.80%	–
MUSA	New	MURPHY USA INC	$42,162,000	–	374,477	–	1.80%	–
DFS	New	DISCOVER FINL SVCS	$42,129,000	–	841,067	–	1.80%	–
OMC	New	OMNICOM GROUP INC	$42,043,000	–	770,015	–	1.80%	–
WCN	New	WASTE CONNECTIONS INC	$41,016,000	–	437,314	–	1.75%	–
ARES	New	ARES MANAGEMENT CORPORATION	$40,926,000	–	1,030,892	–	1.75%	–
EA	New	ELECTRONIC ARTS INC	$37,415,000	–	283,340	–	1.60%	–
ECL	New	ECOLAB INC	$32,472,000	–	163,219	–	1.39%	–
INTU	New	INTUIT	$31,975,000	–	107,956	–	1.37%	–
MSFT	New	MICROSOFT CORP	$27,154,000	–	133,429	–	1.16%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$24,231,000	–	173,609	–	1.04%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$22,938,000	–	44,972	–	0.98%	–
BBBY	New	BED BATH & BEYOND INC	$22,727,000	–	2,144,102	–	0.97%	–
FIVN	New	FIVE9 INC	$22,605,000	–	204,257	–	0.97%	–
SNAP	New	SNAP INCcl a	$19,552,000	–	832,363	–	0.84%	–
DECK	New	DECKERS OUTDOOR CORP	$18,760,000	–	95,524	–	0.80%	–
MTCH	New	MATCH GROUP INC	$18,527,000	–	173,071	–	0.79%	–
AMZN	New	AMAZON COM INC	$17,825,000	–	6,461	–	0.76%	–
OC	New	OWENS CORNING NEW	$15,046,000	–	269,841	–	0.64%	–
LYFT	New	LYFT INC	$14,905,000	–	451,526	–	0.64%	–
YUMC	New	YUM CHINA HLDGS INC	$14,215,000	–	295,712	–	0.61%	–
HD	New	HOME DEPOT INC	$8,270,000	–	33,012	–	0.35%	–
CDW	New	CDW CORP	$7,642,000	–	65,780	–	0.33%	–
JKHY	New	HENRY JACK & ASSOC INC	$4,359,000	–	23,688	–	0.19%	–
NFLX	New	NETFLIX INC	$2,272,000	–	4,994	–	0.10%	–

Q4 2019

			Value		Shares		↓ Weighting
EA	Exit	ELECTRONIC ARTS INC	$0	–	-26,998	–	-0.16%	–
TSCO	Exit	TRACTOR SUPPLY CO	$0	–	-37,514	–	-0.20%	–
WWE	Exit	WORLD WRESTLING ENTMT INCcl a	$0	–	-62,751	–	-0.26%	–
FWONK	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-229,986	–	-0.57%	–
CMCSA	Exit	COMCAST CORP NEWcl a	$0	–	-225,083	–	-0.60%	–
CDAY	Exit	CERIDIAN HCM HLDG INC	$0	–	-412,738	–	-1.21%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-129,656	–	-1.29%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-108,085	–	-1.33%	–
TJX	Exit	TJX COS INC NEW	$0	–	-411,252	–	-1.36%	–
CBS	Exit	CBS CORP NEWcl b	$0	–	-614,870	–	-1.48%	–
TW	Exit	TRADEWEB MKTS INCcl a	$0	–	-723,780	–	-1.59%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-180,650	–	-1.70%	–
CRM	Exit	SALESFORCE COM INC	$0	–	-195,041	–	-1.72%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-24,469	–	-1.78%	–
SCHW	Exit	THE CHARLES SCHWAB CORPORATI	$0	–	-765,919	–	-1.90%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-201,965	–	-1.91%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-612,586	–	-1.93%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-257,596	–	-2.13%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-317,767	–	-2.17%	–
WSM	Exit	WILLIAMS SONOMA INC	$0	–	-557,118	–	-2.25%	–
COF	Exit	CAPITAL ONE FINL CORP	$0	–	-418,978	–	-2.27%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-155,801	–	-2.27%	–
INTU	Exit	INTUIT	$0	–	-149,211	–	-2.36%	–
DRI	Exit	DARDEN RESTAURANTS INC	$0	–	-359,320	–	-2.52%	–
RP	Exit	REALPAGE INC	$0	–	-686,738	–	-2.57%	–
WMT	Exit	WALMART INC	$0	–	-381,053	–	-2.69%	–
ROST	Exit	ROSS STORES INC	$0	–	-438,970	–	-2.87%	–
V	Exit	VISA INC	$0	–	-287,779	–	-2.94%	–
BR	Exit	BROADRIDGE FINL SOLUTIONS IN	$0	–	-430,136	–	-3.18%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-639,118	–	-3.36%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-1,319,717	–	-3.55%	–
KMX	Exit	CARMAX INC	$0	–	-716,298	–	-3.75%	–
HD	Exit	HOME DEPOT INC	$0	–	-271,823	–	-3.75%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-921,941	–	-3.90%	–
FISV	Exit	FISERV INC	$0	–	-654,930	–	-4.03%	–
KKR	Exit	KKR & CO INCcl a	$0	–	-2,786,259	–	-4.45%	–
G	Exit	GENPACT LIMITED	$0	–	-2,143,728	–	-4.94%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-1,030,938	–	-5.02%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-736,892	–	-5.81%	–
BLK	Exit	BLACKROCK INC	$0	–	-236,230	–	-6.26%	–

Q3 2019

			Value		Shares		↓ Weighting
BLK	Sell	BLACKROCK INC	$105,274,000	-9.3%	236,230	-4.5%	6.26%	-6.6%
FIS	Buy	FIDELITY NATL INFORMATION SV	$97,830,000	+9.2%	736,892	+0.9%	5.81%	+12.5%
LPLA	Buy	LPL FINL HLDGS INC	$84,434,000	+34.9%	1,030,938	+34.3%	5.02%	+38.9%
G	Buy	GENPACT LIMITED	$83,069,000	+3.3%	2,143,728	+1.6%	4.94%	+6.4%
KKR	New	KKR & CO INCcl a	$74,811,000	–	2,786,259	–	4.45%	–
FISV	New	FISERV INC	$67,844,000	–	654,930	–	4.03%	–
QSR	Buy	RESTAURANT BRANDS INTL INC	$65,587,000	+9.8%	921,941	+7.3%	3.90%	+13.1%
HD	New	HOME DEPOT INC	$63,068,000	–	271,823	–	3.75%	–
KMX	Sell	CARMAX INC	$63,034,000	-16.4%	716,298	-17.5%	3.75%	-13.9%
BK	New	BANK NEW YORK MELLON CORP	$59,664,000	–	1,319,717	–	3.55%	–
SBUX	New	STARBUCKS CORP	$56,511,000	–	639,118	–	3.36%	–
BR	New	BROADRIDGE FINL SOLUTIONS IN	$53,522,000	–	430,136	–	3.18%	–
V	New	VISA INC	$49,501,000	–	287,779	–	2.94%	–
ROST	New	ROSS STORES INC	$48,221,000	–	438,970	–	2.87%	–
WMT	Buy	WALMART INC	$45,223,000	+26.5%	381,053	+17.8%	2.69%	+30.3%
RP	New	REALPAGE INC	$43,168,000	–	686,738	–	2.57%	–
DRI	New	DARDEN RESTAURANTS INC	$42,479,000	–	359,320	–	2.52%	–
INTU	New	INTUIT	$39,681,000	–	149,211	–	2.36%	–
SPGI	New	S&P GLOBAL INC	$38,168,000	–	155,801	–	2.27%	–
COF	New	CAPITAL ONE FINL CORP	$38,119,000	–	418,978	–	2.27%	–
WSM	New	WILLIAMS SONOMA INC	$37,873,000	–	557,118	–	2.25%	–
CBOE	Sell	CBOE GLOBAL MARKETS INC	$36,515,000	-45.0%	317,767	-50.4%	2.17%	-43.4%
MSFT	Buy	MICROSOFT CORP	$35,814,000	+296.9%	257,596	+282.4%	2.13%	+308.6%
ATVI	New	ACTIVISION BLIZZARD INC	$32,418,000	–	612,586	–	1.93%	–
GPN	New	GLOBAL PMTS INC	$32,112,000	–	201,965	–	1.91%	–
SCHW	New	THE CHARLES SCHWAB CORPORATI	$32,038,000	–	765,919	–	1.90%	–
GOOGL	Buy	ALPHABET INCcap stk cl a	$29,880,000	+709.5%	24,469	+617.8%	1.78%	+733.8%
CRM	Buy	SALESFORCE COM INC	$28,952,000	+362.0%	195,041	+372.3%	1.72%	+375.4%
VRSK	New	VERISK ANALYTICS INC	$28,568,000	–	180,650	–	1.70%	–
TW	New	TRADEWEB MKTS INCcl a	$26,765,000	–	723,780	–	1.59%	–
CBS	Buy	CBS CORP NEWcl b	$24,822,000	+63.9%	614,870	+102.5%	1.48%	+68.8%
TJX	Sell	TJX COS INC NEW	$22,923,000	-65.8%	411,252	-67.6%	1.36%	-64.8%
GS	New	GOLDMAN SACHS GROUP INC	$22,398,000	–	108,085	–	1.33%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$21,682,000	–	129,656	–	1.29%	–
CDAY	New	CERIDIAN HCM HLDG INC	$20,377,000	–	412,738	–	1.21%	–
CMCSA	Sell	COMCAST CORP NEWcl a	$10,147,000	-84.8%	225,083	-85.8%	0.60%	-84.4%
FWONK	New	LIBERTY MEDIA CORP DELAWARE	$9,565,000	–	229,986	–	0.57%	–
WWE	New	WORLD WRESTLING ENTMT INCcl a	$4,465,000	–	62,751	–	0.26%	–
TSCO	New	TRACTOR SUPPLY CO	$3,393,000	–	37,514	–	0.20%	–
EA	New	ELECTRONIC ARTS INC	$2,641,000	–	26,998	–	0.16%	–
PVH	Exit	PVH CORP	$0	–	-48,318	–	-0.26%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-416,504	–	-1.07%	–
ZNGA	Exit	ZYNGA INCcl a	$0	–	-5,119,525	–	-1.81%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-609,673	–	-2.03%	–
VOYA	Exit	VOYA FINL INC	$0	–	-672,368	–	-2.14%	–
WP	Exit	WORLDPAY INCcl a	$0	–	-303,868	–	-2.15%	–
MSGS	Exit	MADISON SQUARE GARDEN CO NEWcl a	$0	–	-136,736	–	-2.21%	–
PLNT	Exit	PLANET FITNESS INCcl a	$0	–	-541,612	–	-2.26%	–
WEX	Exit	WEX INC	$0	–	-197,288	–	-2.37%	–
RH	Exit	RH	$0	–	-366,400	–	-2.44%	–
NKE	Exit	NIKE INCcl b	$0	–	-517,976	–	-2.51%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-408,027	–	-2.70%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-335,271	–	-2.72%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-432,477	–	-2.83%	–
NFLX	Exit	NETFLIX INC	$0	–	-134,537	–	-2.85%	–
FIVE	Exit	FIVE BELOW INC	$0	–	-430,273	–	-2.98%	–
EVR	Exit	EVERCORE INCclass a	$0	–	-612,110	–	-3.13%	–
TRU	Exit	TRANSUNION	$0	–	-879,227	–	-3.73%	–
EFX	Exit	EQUIFAX INC	$0	–	-577,555	–	-4.51%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-638,706	–	-4.55%	–
MS	Exit	MORGAN STANLEY	$0	–	-2,074,042	–	-5.24%	–

Q2 2019

			Value		Shares		↓ Weighting
BLK	New	BLACKROCK INC	$116,089,000	–	247,367	–	6.70%	–
MS	New	MORGAN STANLEY	$90,864,000	–	2,074,042	–	5.24%	–
FIS	New	FIDELITY NATL INFORMATION SV	$89,597,000	–	730,333	–	5.17%	–
G	New	GENPACT LIMITED	$80,400,000	–	2,110,799	–	4.64%	–
AXP	New	AMERICAN EXPRESS CO	$78,842,000	–	638,706	–	4.55%	–
EFX	New	EQUIFAX INC	$78,109,000	–	577,555	–	4.51%	–
KMX	New	CARMAX INC	$75,378,000	–	868,110	–	4.35%	–
TJX	New	TJX COS INC NEW	$67,068,000	–	1,268,297	–	3.87%	–
CMCSA	New	COMCAST CORP NEWcl a	$66,829,000	–	1,580,635	–	3.86%	–
CBOE	New	CBOE GLOBAL MARKETS INC	$66,405,000	–	640,792	–	3.83%	–
TRU	New	TRANSUNION	$64,632,000	–	879,227	–	3.73%	–
LPLA	New	LPL FINL HLDGS INC	$62,612,000	–	767,583	–	3.61%	–
QSR	New	RESTAURANT BRANDS INTL INC	$59,734,000	–	858,990	–	3.45%	–
EVR	New	EVERCORE INCclass a	$54,215,000	–	612,110	–	3.13%	–
FIVE	New	FIVE BELOW INC	$51,641,000	–	430,273	–	2.98%	–
NFLX	New	NETFLIX INC	$49,418,000	–	134,537	–	2.85%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$49,099,000	–	432,477	–	2.83%	–
JLL	New	JONES LANG LASALLE INC	$47,169,000	–	335,271	–	2.72%	–
PYPL	New	PAYPAL HLDGS INC	$46,703,000	–	408,027	–	2.70%	–
NKE	New	NIKE INCcl b	$43,484,000	–	517,976	–	2.51%	–
RH	New	RH	$42,356,000	–	366,400	–	2.44%	–
WEX	New	WEX INC	$41,056,000	–	197,288	–	2.37%	–
PLNT	New	PLANET FITNESS INCcl a	$39,234,000	–	541,612	–	2.26%	–
MSGS	New	MADISON SQUARE GARDEN CO NEWcl a	$38,278,000	–	136,736	–	2.21%	–
WP	New	WORLDPAY INCcl a	$37,239,000	–	303,868	–	2.15%	–
VOYA	New	VOYA FINL INC	$37,182,000	–	672,368	–	2.14%	–
WMT	New	WALMART INC	$35,749,000	–	323,547	–	2.06%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$35,123,000	–	609,673	–	2.03%	–
ZNGA	New	ZYNGA INCcl a	$31,383,000	–	5,119,525	–	1.81%	–
ETFC	New	E TRADE FINANCIAL CORP	$18,576,000	–	416,504	–	1.07%	–
CBS	New	CBS CORP NEWcl b	$15,149,000	–	303,579	–	0.87%	–
MSFT	New	MICROSOFT CORP	$9,023,000	–	67,356	–	0.52%	–
CRM	New	SALESFORCE COM INC	$6,266,000	–	41,300	–	0.36%	–
PVH	New	PVH CORP	$4,573,000	–	48,318	–	0.26%	–
GOOGL	New	ALPHABET INCcap stk cl a	$3,691,000	–	3,409	–	0.21%	–

Q4 2018

			Value		Shares		↓ Weighting
YNDX	Exit	YANDEX N V	$0	–	-230,704	–	-0.44%	–
PVH	Exit	PVH CORP	$0	–	-55,099	–	-0.46%	–
ADSK	Exit	AUTODESK INC	$0	–	-69,964	–	-0.63%	–
EVR	Exit	EVERCORE INCclass a	$0	–	-185,307	–	-1.07%	–
INTC	Exit	INTEL CORP	$0	–	-404,024	–	-1.10%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-125,128	–	-1.18%	–
NTES	Exit	NETEASE INCsponsored adr	$0	–	-100,891	–	-1.32%	–
HUD	Exit	HUDSON LTD	$0	–	-1,060,417	–	-1.38%	–
CTAS	Exit	CINTAS CORP	$0	–	-122,147	–	-1.39%	–
NTES	Exit	NETEASE INCput	$0	–	-106,000	–	-1.39%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-446,184	–	-1.40%	–
JLL	Exit	JONES LANG LASALLE INC	$0	–	-171,737	–	-1.42%	–
ATVI	Exit	ACTIVISION BLIZZARD INCcall	$0	–	-300,000	–	-1.43%	–
ETFC	Exit	E TRADE FINANCIAL CORPcall	$0	–	-494,500	–	-1.49%	–
ATUS	Exit	ALTICE USA INCcl a	$0	–	-1,499,602	–	-1.56%	–
TRI	Exit	THOMSON REUTERS CORP	$0	–	-610,000	–	-1.60%	–
MCD	Exit	MCDONALDS CORP	$0	–	-169,209	–	-1.63%	–
BBY	Exit	BEST BUY INC	$0	–	-372,226	–	-1.70%	–
DPZ	Exit	DOMINOS PIZZA INC	$0	–	-100,408	–	-1.70%	–
NFLX	Exit	NETFLIX INC	$0	–	-91,262	–	-1.96%	–
EQIX	Exit	EQUINIX INC	$0	–	-79,601	–	-1.98%	–
ARMK	Exit	ARAMARK	$0	–	-861,889	–	-2.13%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-483,130	–	-2.31%	–
WMT	Exit	WALMART INC	$0	–	-432,803	–	-2.34%	–
SCHW	Exit	SCHWAB CHARLES CORP NEW	$0	–	-829,129	–	-2.34%	–
DIS	Exit	DISNEY WALT CO	$0	–	-378,879	–	-2.55%	–
TPR	Exit	TAPESTRY INC	$0	–	-882,122	–	-2.55%	–
BURL	Exit	BURLINGTON STORES INC	$0	–	-288,206	–	-2.70%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-468,157	–	-2.75%	–
TMUS	Exit	T MOBILE US INC	$0	–	-686,517	–	-2.77%	–
AMZN	Exit	AMAZON COM INC	$0	–	-25,458	–	-2.93%	–
EFX	Exit	EQUIFAX INC	$0	–	-391,055	–	-2.94%	–
TRU	Exit	TRANSUNION	$0	–	-694,309	–	-2.94%	–
KKR	Exit	KKR & CO INCcl a	$0	–	-1,879,136	–	-2.94%	–
INFO	Exit	IHS MARKIT LTD	$0	–	-953,025	–	-2.96%	–
CME	Exit	CME GROUP INC	$0	–	-318,504	–	-3.12%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-241,773	–	-3.12%	–
MSGS	Exit	MADISON SQUARE GARDEN CO NEWcl a	$0	–	-179,604	–	-3.26%	–
WP	Exit	WORLDPAY INCcl a	$0	–	-666,288	–	-3.88%	–
TGT	Exit	TARGET CORP	$0	–	-813,302	–	-4.12%	–
TSS	Exit	TOTAL SYS SVCS INC	$0	–	-929,614	–	-5.28%	–
RJF	Exit	RAYMOND JAMES FINANCIAL INC	$0	–	-1,038,479	–	-5.49%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-970,335	–	-6.38%	–

Q3 2018

			Value		Shares		↓ Weighting
MSFT	Sell	MICROSOFT CORP	$110,977,000	+14.7%	970,335	-1.1%	6.38%	-5.7%
RJF	Buy	RAYMOND JAMES FINANCIAL INC	$95,592,000	+20.2%	1,038,479	+16.7%	5.49%	-1.2%
TSS	Buy	TOTAL SYS SVCS INC	$91,790,000	+35.3%	929,614	+15.8%	5.28%	+11.2%
TGT	New	TARGET CORP	$71,741,000	–	813,302	–	4.12%	–
WP	Buy	WORLDPAY INCcl a	$67,475,000	+30.4%	666,288	+5.3%	3.88%	+7.2%
MSGS	Buy	MADISON SQUARE GARDEN CO NEWcl a	$56,633,000	+30.8%	179,604	+28.7%	3.26%	+7.5%
GS	New	GOLDMAN SACHS GROUP INC	$54,215,000	–	241,773	–	3.12%	–
CME	Buy	CME GROUP INC	$54,213,000	+27.2%	318,504	+22.5%	3.12%	+4.6%
INFO	Sell	IHS MARKIT LTD	$51,425,000	-23.7%	953,025	-27.0%	2.96%	-37.3%
KKR	New	KKR & CO INCcl a	$51,244,000	–	1,879,136	–	2.94%	–
TRU	Buy	TRANSUNION	$51,087,000	+35.5%	694,309	+31.9%	2.94%	+11.4%
EFX	New	EQUIFAX INC	$51,060,000	–	391,055	–	2.94%	–
AMZN	New	AMAZON COM INC	$50,992,000	–	25,458	–	2.93%	–
TMUS	Sell	T MOBILE US INC	$48,180,000	-11.6%	686,517	-24.7%	2.77%	-27.3%
NTRS	Sell	NORTHERN TR CORP	$47,813,000	-26.3%	468,157	-25.8%	2.75%	-39.5%
BURL	New	BURLINGTON STORES INC	$46,955,000	–	288,206	–	2.70%	–
TPR	Buy	TAPESTRY INC	$44,344,000	+18.8%	882,122	+10.4%	2.55%	-2.3%
DIS	New	DISNEY WALT CO	$44,306,000	–	378,879	–	2.55%	–
SCHW	New	SCHWAB CHARLES CORP NEW	$40,752,000	–	829,129	–	2.34%	–
WMT	Sell	WALMART INC	$40,645,000	-7.6%	432,803	-15.7%	2.34%	-24.1%
ATVI	New	ACTIVISION BLIZZARD INC	$40,192,000	–	483,130	–	2.31%	–
ARMK	New	ARAMARK	$37,078,000	–	861,889	–	2.13%	–
EQIX	New	EQUINIX INC	$34,458,000	–	79,601	–	1.98%	–
NFLX	New	NETFLIX INC	$34,144,000	–	91,262	–	1.96%	–
DPZ	New	DOMINOS PIZZA INC	$29,600,000	–	100,408	–	1.70%	–
BBY	New	BEST BUY INC	$29,540,000	–	372,226	–	1.70%	–
MCD	New	MCDONALDS CORP	$28,307,000	–	169,209	–	1.63%	–
TRI	New	THOMSON REUTERS CORP	$27,865,000	–	610,000	–	1.60%	–
ATUS	New	ALTICE USA INCcl a	$27,203,000	–	1,499,602	–	1.56%	–
ETFC	New	E TRADE FINANCIAL CORPcall	$25,907,000	–	494,500	–	1.49%	–
ATVI	New	ACTIVISION BLIZZARD INCcall	$24,957,000	–	300,000	–	1.43%	–
JLL	New	JONES LANG LASALLE INC	$24,785,000	–	171,737	–	1.42%	–
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$24,304,000	-27.7%	446,184	-35.5%	1.40%	-40.6%
NTES	New	NETEASE INCput	$24,195,000	–	106,000	–	1.39%	–
CTAS	Sell	CINTAS CORP	$24,162,000	-39.2%	122,147	-43.1%	1.39%	-50.0%
HUD	Sell	HUDSON LTD	$23,923,000	-3.1%	1,060,417	-24.9%	1.38%	-20.4%
NTES	New	NETEASE INCsponsored adr	$23,028,000	–	100,891	–	1.32%	–
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$20,616,000	-36.8%	125,128	-28.9%	1.18%	-48.1%
INTC	Sell	INTEL CORP	$19,106,000	-39.6%	404,024	-36.5%	1.10%	-50.3%
EVR	New	EVERCORE INCclass a	$18,633,000	–	185,307	–	1.07%	–
ADSK	Sell	AUTODESK INC	$10,922,000	-76.2%	69,964	-80.0%	0.63%	-80.4%
PVH	Sell	PVH CORP	$7,956,000	-37.8%	55,099	-35.5%	0.46%	-48.9%
YNDX	Sell	YANDEX N V	$7,588,000	-81.3%	230,704	-79.6%	0.44%	-84.7%
MAN	Exit	MANPOWERGROUP INC	$0	–	-19,137	–	-0.12%	–
WEN	Exit	WENDYS CO	$0	–	-488,808	–	-0.59%	–
YUM	Exit	YUM BRANDS INC	$0	–	-127,837	–	-0.70%	–
MAS	Exit	MASCO CORP	$0	–	-352,114	–	-0.92%	–
TJX	Exit	TJX COS INC NEW	$0	–	-156,832	–	-1.04%	–
PLNT	Exit	PLANET FITNESS INCcl a	$0	–	-476,209	–	-1.46%	–
MS	Exit	MORGAN STANLEY	$0	–	-493,234	–	-1.64%	–
VMC	Exit	VULCAN MATLS CO	$0	–	-215,137	–	-1.94%	–
SBUX	Exit	STARBUCKS CORP	$0	–	-681,181	–	-2.33%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-299,084	–	-2.33%	–
AMP	Exit	AMERIPRISE FINL INC	$0	–	-244,826	–	-2.40%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-253,117	–	-2.50%	–
EV	Exit	EATON VANCE CORP	$0	–	-684,375	–	-2.50%	–
NYT	Exit	NEW YORK TIMES COcl a	$0	–	-1,380,860	–	-2.50%	–
DLTR	Exit	DOLLAR TREE INC	$0	–	-484,406	–	-2.88%	–
IT	Exit	GARTNER INC	$0	–	-401,051	–	-3.73%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-790,052	–	-4.06%	–

Q2 2018

			Value		Shares		↓ Weighting
MSFT	New	MICROSOFT CORP	$96,722,000	–	980,854	–	6.76%	–
RJF	New	RAYMOND JAMES FINANCIAL INC	$79,515,000	–	889,924	–	5.56%	–
TSS	New	TOTAL SYS SVCS INC	$67,826,000	–	802,479	–	4.74%	–
INFO	New	IHS MARKIT LTD	$67,371,000	–	1,305,895	–	4.71%	–
NTRS	New	NORTHERN TR CORP	$64,902,000	–	630,789	–	4.54%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$58,108,000	–	790,052	–	4.06%	–
TMUS	New	T MOBILE US INC	$54,488,000	–	911,935	–	3.81%	–
IT	New	GARTNER INC	$53,300,000	–	401,051	–	3.73%	–
WP	New	WORLDPAY INCcl a	$51,745,000	–	632,735	–	3.62%	–
ADSK	New	AUTODESK INC	$45,863,000	–	349,861	–	3.21%	–
WMT	New	WALMART INC	$43,990,000	–	513,598	–	3.08%	–
MSGS	New	MADISON SQUARE GARDEN CO NEWcl a	$43,293,000	–	139,569	–	3.03%	–
CME	New	CME GROUP INC	$42,615,000	–	259,973	–	2.98%	–
DLTR	New	DOLLAR TREE INC	$41,175,000	–	484,406	–	2.88%	–
YNDX	New	YANDEX N V	$40,650,000	–	1,132,304	–	2.84%	–
CTAS	New	CINTAS CORP	$39,726,000	–	214,652	–	2.78%	–
TRU	New	TRANSUNION	$37,697,000	–	526,203	–	2.64%	–
TPR	New	TAPESTRY INC	$37,317,000	–	798,917	–	2.61%	–
NYT	New	NEW YORK TIMES COcl a	$35,764,000	–	1,380,860	–	2.50%	–
EV	New	EATON VANCE CORP	$35,718,000	–	684,375	–	2.50%	–
EA	New	ELECTRONIC ARTS INC	$35,695,000	–	253,117	–	2.50%	–
AMP	New	AMERIPRISE FINL INC	$34,246,000	–	244,826	–	2.40%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$33,615,000	–	692,097	–	2.35%	–
GPN	New	GLOBAL PMTS INC	$33,345,000	–	299,084	–	2.33%	–
SBUX	New	STARBUCKS CORP	$33,276,000	–	681,181	–	2.33%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$32,630,000	–	175,875	–	2.28%	–
INTC	New	INTEL CORP	$31,607,000	–	635,821	–	2.21%	–
VMC	New	VULCAN MATLS CO	$27,766,000	–	215,137	–	1.94%	–
HUD	New	HUDSON LTD	$24,687,000	–	1,411,476	–	1.73%	–
MS	New	MORGAN STANLEY	$23,379,000	–	493,234	–	1.64%	–
PLNT	New	PLANET FITNESS INCcl a	$20,925,000	–	476,209	–	1.46%	–
TJX	New	TJX COS INC NEW	$14,927,000	–	156,832	–	1.04%	–
MAS	New	MASCO CORP	$13,176,000	–	352,114	–	0.92%	–
PVH	New	PVH CORP	$12,783,000	–	85,381	–	0.89%	–
YUM	New	YUM BRANDS INC	$9,999,000	–	127,837	–	0.70%	–
WEN	New	WENDYS CO	$8,398,000	–	488,808	–	0.59%	–
MAN	New	MANPOWERGROUP INC	$1,647,000	–	19,137	–	0.12%	–

Q4 2017

			Value		Shares		↓ Weighting
GDDY	Exit	GODADDY INCcl a	$0	–	-107,846	–	-0.38%	–
BABA	Exit	ALIBABA GROUP HLDG LTDsponsored ads	$0	–	-47,183	–	-0.67%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-81,471	–	-0.79%	–
QSR	Exit	RESTAURANT BRANDS INTL INC	$0	–	-157,290	–	-0.82%	–
KMX	Exit	CARMAX INC	$0	–	-171,854	–	-1.07%	–
FOXA	Exit	TWENTY FIRST CENTY FOX INCcl a	$0	–	-515,455	–	-1.12%	–
G	Exit	GENPACT LIMITED	$0	–	-475,000	–	-1.12%	–
CNDT	Exit	CONDUENT INC	$0	–	-991,720	–	-1.27%	–
ULTA	Exit	ULTA BEAUTY INC	$0	–	-69,360	–	-1.28%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-198,000	–	-1.35%	–
EV	Exit	EATON VANCE CORP	$0	–	-400,467	–	-1.62%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-269,500	–	-1.65%	–
EPAM	Exit	EPAM SYS INC	$0	–	-283,049	–	-2.04%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-166,933	–	-2.04%	–
TJX	Exit	TJX COS INC NEW	$0	–	-342,650	–	-2.07%	–
LM	Exit	LEGG MASON INC	$0	–	-711,950	–	-2.29%	–
MCD	Exit	MCDONALDS CORP	$0	–	-186,019	–	-2.39%	–
GPN	Exit	GLOBAL PMTS INC	$0	–	-307,512	–	-2.40%	–
LDOS	Exit	LEIDOS HLDGS INC	$0	–	-509,652	–	-2.47%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-696,238	–	-2.49%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-201,782	–	-2.59%	–
CBOE	Exit	CBOE HLDGS INC	$0	–	-295,609	–	-2.61%	–
BURL	Exit	BURLINGTON STORES INC	$0	–	-334,565	–	-2.62%	–
WEX	Exit	WEX INC	$0	–	-305,788	–	-2.81%	–
DHI	Exit	D R HORTON INC	$0	–	-872,034	–	-2.86%	–
FWONK	Exit	LIBERTY MEDIA CORP DELAWARE	$0	–	-934,625	–	-2.92%	–
PLNT	Exit	PLANET FITNESS INCcl a	$0	–	-1,346,051	–	-2.98%	–
VZ	Exit	VERIZON COMMUNICATIONS INC	$0	–	-776,100	–	-3.15%	–
CDK	Exit	CDK GLOBAL INC	$0	–	-661,252	–	-3.42%	–
MS	Exit	MORGAN STANLEY	$0	–	-872,600	–	-3.45%	–
LPLA	Exit	LPL FINL HLDGS INC	$0	–	-826,219	–	-3.49%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-601,900	–	-3.58%	–
NFLX	Exit	NETFLIX INC	$0	–	-265,662	–	-3.95%	–
CTAS	Exit	CINTAS CORP	$0	–	-409,029	–	-4.84%	–
ETFC	Exit	E TRADE FINANCIAL CORP	$0	–	-1,479,038	–	-5.29%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-700,500	–	-5.36%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-78,979	–	-6.30%	–
BLK	Exit	BLACKROCK INC	$0	–	-176,197	–	-6.46%	–

Q3 2017

			Value		Shares		↓ Weighting
BLK	Sell	BLACKROCK INC	$78,776,000	-14.1%	176,197	-18.9%	6.46%	-20.0%
GOOGL	Buy	ALPHABET INCcap stk cl a	$76,903,000	+45.9%	78,979	+39.3%	6.30%	+35.9%
FIS	Buy	FIDELITY NATL INFORMATION SV	$65,420,000	+55.8%	700,500	+42.5%	5.36%	+45.1%
ETFC	Buy	E TRADE FINANCIAL CORP	$64,501,000	+15.0%	1,479,038	+0.3%	5.29%	+7.1%
CTAS	Sell	CINTAS CORP	$59,015,000	-17.4%	409,029	-27.8%	4.84%	-23.0%
NFLX	Buy	NETFLIX INC	$48,178,000	+602.5%	265,662	+478.8%	3.95%	+554.0%
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$43,662,000	–	601,900	–	3.58%	–
LPLA	New	LPL FINL HLDGS INC	$42,608,000	–	826,219	–	3.49%	–
MS	Buy	MORGAN STANLEY	$42,033,000	+36.2%	872,600	+26.0%	3.45%	+26.9%
CDK	Sell	CDK GLOBAL INC	$41,718,000	-7.8%	661,252	-9.3%	3.42%	-14.1%
VZ	Buy	VERIZON COMMUNICATIONS INC	$38,409,000	+317.5%	776,100	+276.7%	3.15%	+288.8%
PLNT	Sell	PLANET FITNESS INCcl a	$36,316,000	-2.4%	1,346,051	-15.6%	2.98%	-9.2%
FWONK	Buy	LIBERTY MEDIA CORP DELAWARE	$35,600,000	+137.7%	934,625	+128.5%	2.92%	+121.3%
DHI	Buy	D R HORTON INC	$34,820,000	+17.1%	872,034	+1.3%	2.86%	+9.1%
WEX	Buy	WEX INC	$34,316,000	+8.3%	305,788	+0.6%	2.81%	+0.8%
BURL	New	BURLINGTON STORES INC	$31,938,000	–	334,565	–	2.62%	–
CBOE	Sell	CBOE HLDGS INC	$31,816,000	-10.0%	295,609	-23.5%	2.61%	-16.2%
SPGI	Buy	S&P GLOBAL INC	$31,541,000	+365.6%	201,782	+334.9%	2.59%	+333.9%
LYV	New	LIVE NATION ENTERTAINMENT IN	$30,321,000	–	696,238	–	2.49%	–
LDOS	New	LEIDOS HLDGS INC	$30,182,000	–	509,652	–	2.47%	–
GPN	Sell	GLOBAL PMTS INC	$29,223,000	-27.4%	307,512	-31.0%	2.40%	-32.4%
MCD	Buy	MCDONALDS CORP	$29,145,000	+145.2%	186,019	+139.7%	2.39%	+128.4%
LM	New	LEGG MASON INC	$27,987,000	–	711,950	–	2.29%	–
TJX	New	TJX COS INC NEW	$25,264,000	–	342,650	–	2.07%	–
ADBE	New	ADOBE SYS INC	$24,903,000	–	166,933	–	2.04%	–
EPAM	Buy	EPAM SYS INC	$24,888,000	+13.2%	283,049	+8.2%	2.04%	+5.4%
MSFT	Sell	MICROSOFT CORP	$20,075,000	-66.8%	269,500	-69.3%	1.65%	-69.0%
EV	Sell	EATON VANCE CORP	$19,771,000	-41.5%	400,467	-44.0%	1.62%	-45.5%
VRSK	New	VERISK ANALYTICS INC	$16,472,000	–	198,000	–	1.35%	–
ULTA	Buy	ULTA BEAUTY INC	$15,680,000	-8.7%	69,360	+16.0%	1.28%	-15.0%
CNDT	Sell	CONDUENT INC	$15,540,000	-5.2%	991,720	-3.5%	1.27%	-11.7%
G	New	GENPACT LIMITED	$13,656,000	–	475,000	–	1.12%	–
FOXA	Sell	TWENTY FIRST CENTY FOX INCcl a	$13,598,000	-62.5%	515,455	-59.7%	1.12%	-65.0%
KMX	Sell	CARMAX INC	$13,028,000	-4.5%	171,854	-20.5%	1.07%	-11.0%
QSR	Sell	RESTAURANT BRANDS INTL INC	$10,048,000	-61.2%	157,290	-62.0%	0.82%	-63.9%
MAN	Buy	MANPOWERGROUP INC	$9,599,000	+17.8%	81,471	+11.6%	0.79%	+9.8%
BABA	Sell	ALIBABA GROUP HLDG LTDsponsored ads	$8,149,000	-87.4%	47,183	-89.8%	0.67%	-88.3%
GDDY	Sell	GODADDY INCcl a	$4,692,000	-18.1%	107,846	-20.1%	0.38%	-23.6%
WETF	Exit	WISDOMTREE INVTS INC	$0	–	-271,066	–	-0.24%	–
SIG	Exit	SIGNET JEWELERS LIMITED	$0	–	-78,450	–	-0.44%	–
TIF	Exit	TIFFANY & CO NEW	$0	–	-154,900	–	-1.28%	–
CRI	Exit	CARTER INC	$0	–	-168,700	–	-1.32%	–
LULU	Exit	LULULEMON ATHLETICA INC	$0	–	-255,700	–	-1.34%	–
FDS	Exit	FACTSET RESH SYS INC	$0	–	-122,900	–	-1.80%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-308,036	–	-2.64%	–
V	Exit	VISA INC	$0	–	-379,496	–	-3.13%	–
TRU	Exit	TRANSUNION	$0	–	-1,831,267	–	-6.98%	–

Q2 2017

			Value		Shares		↓ Weighting
BLK	New	BLACKROCK INC	$91,733,000	–	217,165	–	8.07%	–
TRU	New	TRANSUNION	$79,312,000	–	1,831,267	–	6.98%	–
CTAS	New	CINTAS CORP	$71,424,000	–	566,680	–	6.29%	–
BABA	New	ALIBABA GROUP HLDG LTDsponsored ads	$64,877,000	–	460,450	–	5.71%	–
MSFT	New	MICROSOFT CORP	$60,423,000	–	876,587	–	5.32%	–
ETFC	New	E TRADE FINANCIAL CORP	$56,095,000	–	1,475,008	–	4.94%	–
GOOGL	New	ALPHABET INCcap stk cl a	$52,708,000	–	56,695	–	4.64%	–
CDK	New	CDK GLOBAL INC	$45,226,000	–	728,753	–	3.98%	–
FIS	New	FIDELITY NATL INFORMATION SV	$41,983,000	–	491,600	–	3.70%	–
GPN	New	GLOBAL PMTS INC	$40,248,000	–	445,612	–	3.54%	–
PLNT	New	PLANET FITNESS INCcl a	$37,227,000	–	1,595,000	–	3.28%	–
FOXA	New	TWENTY FIRST CENTY FOX INCcl a	$36,237,000	–	1,278,641	–	3.19%	–
V	New	VISA INC	$35,589,000	–	379,496	–	3.13%	–
CBOE	New	CBOE HLDGS INC	$35,341,000	–	386,662	–	3.11%	–
EV	New	EATON VANCE CORP	$33,813,000	–	714,552	–	2.98%	–
WEX	New	WEX INC	$31,698,000	–	304,000	–	2.79%	–
MS	New	MORGAN STANLEY	$30,853,000	–	692,400	–	2.72%	–
NTRS	New	NORTHERN TR CORP	$29,944,000	–	308,036	–	2.64%	–
DHI	New	D R HORTON INC	$29,747,000	–	860,500	–	2.62%	–
QSR	New	RESTAURANT BRANDS INTL INC	$25,899,000	–	414,120	–	2.28%	–
EPAM	New	EPAM SYS INC	$21,990,000	–	261,504	–	1.94%	–
FDS	New	FACTSET RESH SYS INC	$20,424,000	–	122,900	–	1.80%	–
ULTA	New	ULTA BEAUTY INC	$17,183,000	–	59,800	–	1.51%	–
CNDT	New	CONDUENT INC	$16,386,000	–	1,028,000	–	1.44%	–
LULU	New	LULULEMON ATHLETICA INC	$15,258,000	–	255,700	–	1.34%	–
CRI	New	CARTER INC	$15,006,000	–	168,700	–	1.32%	–
FWONK	New	LIBERTY MEDIA CORP DELAWARE	$14,980,000	–	409,070	–	1.32%	–
TIF	New	TIFFANY & CO NEW	$14,540,000	–	154,900	–	1.28%	–
KMX	New	CARMAX INC	$13,638,000	–	216,272	–	1.20%	–
MCD	New	MCDONALDS CORP	$11,885,000	–	77,600	–	1.05%	–
VZ	New	VERIZON COMMUNICATIONS INC	$9,200,000	–	206,000	–	0.81%	–
MAN	New	MANPOWERGROUP INC	$8,150,000	–	73,000	–	0.72%	–
NFLX	New	NETFLIX INC	$6,858,000	–	45,900	–	0.60%	–
SPGI	New	S&P GLOBAL INC	$6,774,000	–	46,400	–	0.60%	–
GDDY	New	GODADDY INCcl a	$5,729,000	–	135,050	–	0.50%	–
SIG	New	SIGNET JEWELERS LIMITED	$4,961,000	–	78,450	–	0.44%	–
WETF	New	WISDOMTREE INVTS INC	$2,757,000	–	271,066	–	0.24%	–

Q4 2016

			Value		Shares		↓ Weighting
AMZN	Exit	AMAZON COM INC	$0	–	-3,700	–	-0.41%	–
KLAC	Exit	KLA-TENCOR CORP	$0	–	-76,600	–	-0.70%	–
AVGO	Exit	BROADCOM LTD	$0	–	-44,053	–	-1.00%	–
HD	Exit	HOME DEPOT INC	$0	–	-76,000	–	-1.28%	–
G	Exit	GENPACT LIMITED	$0	–	-572,592	–	-1.80%	–
ULTA	Exit	ULTA SALON COSMETCS & FRAG I	$0	–	-64,600	–	-2.02%	–
CLGX	Exit	CORELOGIC INC	$0	–	-400,900	–	-2.06%	–
MKTX	Exit	MARKETAXESS HLDGS INC	$0	–	-98,222	–	-2.14%	–
ROST	Exit	ROSS STORES INC	$0	–	-254,000	–	-2.14%	–
SPGI	Exit	S&P GLOBAL INC	$0	–	-175,800	–	-2.92%	–
ADBE	Exit	ADOBE SYS INC	$0	–	-223,480	–	-3.19%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-31,800	–	-3.36%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-471,000	–	-3.56%	–
VNTV	Exit	VANTIV INCcl a	$0	–	-486,152	–	-3.59%	–
MS	Exit	MORGAN STANLEY	$0	–	-855,387	–	-3.60%	–
IVZ	Exit	INVESCO LTD	$0	–	-983,238	–	-4.04%	–
NLSN	Exit	NIELSEN HLDGS PLC	$0	–	-674,369	–	-4.74%	–
GDDY	Exit	GODADDY INCcl a	$0	–	-1,047,012	–	-4.75%	–
LM	Exit	LEGG MASON INC	$0	–	-1,140,514	–	-5.02%	–
V	Exit	VISA INC	$0	–	-500,800	–	-5.44%	–
EVR	Exit	EVERCORE PARTNERS INCclass a	$0	–	-856,125	–	-5.79%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-179,300	–	-6.34%	–
TMUS	Exit	T MOBILE US INC	$0	–	-1,128,250	–	-6.92%	–
TWX	Exit	TIME WARNER INC	$0	–	-672,025	–	-7.03%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-450,038	–	-7.58%	–
TRU	Exit	TRANSUNION	$0	–	-1,891,643	–	-8.57%	–

Q3 2016

			Value		Shares		↓ Weighting
TRU	Buy	TRANSUNION	$65,262,000	+58.7%	1,891,643	+53.8%	8.57%	+33.4%
FB	Buy	FACEBOOK INCcl a	$57,726,000	+120.3%	450,038	+96.3%	7.58%	+85.3%
TWX	New	TIME WARNER INC	$53,500,000	–	672,025	–	7.03%	–
TMUS	Buy	T MOBILE US INC	$52,712,000	+74.6%	1,128,250	+61.7%	6.92%	+46.8%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$48,296,000	-3.1%	179,300	-7.9%	6.34%	-18.5%
EVR	Sell	EVERCORE PARTNERS INCclass a	$44,099,000	+8.3%	856,125	-7.1%	5.79%	-8.9%
V	Buy	VISA INC	$41,416,000	+403.5%	500,800	+351.6%	5.44%	+323.3%
LM	Sell	LEGG MASON INC	$38,184,000	-12.4%	1,140,514	-22.8%	5.02%	-26.3%
GDDY	New	GODADDY INCcl a	$36,153,000	–	1,047,012	–	4.75%	–
NLSN	New	NIELSEN HLDGS PLC	$36,126,000	–	674,369	–	4.74%	–
IVZ	New	INVESCO LTD	$30,746,000	–	983,238	–	4.04%	–
MS	New	MORGAN STANLEY	$27,424,000	–	855,387	–	3.60%	–
VNTV	New	VANTIV INCcl a	$27,356,000	–	486,152	–	3.59%	–
MSFT	New	MICROSOFT CORP	$27,130,000	–	471,000	–	3.56%	–
GOOGL	New	ALPHABET INCcap stk cl a	$25,569,000	–	31,800	–	3.36%	–
ADBE	Sell	ADOBE SYS INC	$24,257,000	-49.6%	223,480	-55.5%	3.19%	-57.6%
SPGI	Sell	S&P GLOBAL INC	$22,249,000	-14.2%	175,800	-27.3%	2.92%	-27.8%
ROST	New	ROSS STORES INC	$16,332,000	–	254,000	–	2.14%	–
MKTX	Sell	MARKETAXESS HLDGS INC	$16,265,000	-46.1%	98,222	-52.7%	2.14%	-54.7%
CLGX	New	CORELOGIC INC	$15,723,000	–	400,900	–	2.06%	–
ULTA	New	ULTA SALON COSMETCS & FRAG I	$15,374,000	–	64,600	–	2.02%	–
G	New	GENPACT LIMITED	$13,714,000	–	572,592	–	1.80%	–
HD	New	HOME DEPOT INC	$9,780,000	–	76,000	–	1.28%	–
AVGO	Sell	BROADCOM LTD	$7,600,000	-82.1%	44,053	-83.9%	1.00%	-85.0%
KLAC	New	KLA-TENCOR CORP	$5,340,000	–	76,600	–	0.70%	–
AMZN	Sell	AMAZON COM INC	$3,098,000	-44.5%	3,700	-52.6%	0.41%	-53.3%
LILAK	Exit	LIBERTY GLOBAL PLC	$0	–	-89,059	–	-0.45%	–
CAB	Exit	CABELAS INC	$0	–	-189,000	–	-1.48%	–
EV	Exit	EATON VANCE CORP	$0	–	-513,973	–	-2.84%	–
CHTR	Exit	CHARTER COMMUNICATIONS INC Ncl a	$0	–	-79,700	–	-2.85%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-744,762	–	-3.27%	–
SCHW	Exit	SCHWAB CHARLES CORP NEW	$0	–	-1,173,651	–	-4.64%	–
TSS	Exit	TOTAL SYS SVCS INC	$0	–	-683,985	–	-5.67%	–
SEIC	Exit	SEI INVESTMENTS CO	$0	–	-760,994	–	-5.72%	–
MSCI	Exit	MSCI INC	$0	–	-486,100	–	-5.86%	–
VRSK	Exit	VERISK ANALYTICS INC	$0	–	-471,647	–	-5.97%	–

Q2 2016

			Value		Shares		↓ Weighting
ICE	New	INTERCONTINENTAL EXCHANGE IN	$49,823,000	–	194,650	–	7.78%	–
ADBE	New	ADOBE SYS INC	$48,087,000	–	502,000	–	7.51%	–
LM	New	LEGG MASON INC	$43,588,000	–	1,478,062	–	6.81%	–
AVGO	New	BROADCOM LTD	$42,518,000	–	273,603	–	6.64%	–
TRU	New	TRANSUNION	$41,124,000	–	1,229,787	–	6.42%	–
EVR	New	EVERCORE PARTNERS INCclass a	$40,719,000	–	921,454	–	6.36%	–
VRSK	New	VERISK ANALYTICS INC	$38,241,000	–	471,647	–	5.97%	–
MSCI	New	MSCI INC	$37,488,000	–	486,100	–	5.86%	–
SEIC	New	SEI INVESTMENTS CO	$36,611,000	–	760,994	–	5.72%	–
TSS	New	TOTAL SYS SVCS INC	$36,326,000	–	683,985	–	5.67%	–
MKTX	New	MARKETAXESS HLDGS INC	$30,201,000	–	207,707	–	4.72%	–
TMUS	New	T MOBILE US INC	$30,194,000	–	697,800	–	4.72%	–
SCHW	New	SCHWAB CHARLES CORP NEW	$29,705,000	–	1,173,651	–	4.64%	–
FB	New	FACEBOOK INCcl a	$26,199,000	–	229,250	–	4.09%	–
SPGI	New	S&P GLOBAL INC	$25,925,000	–	241,700	–	4.05%	–
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$20,913,000	–	744,762	–	3.27%	–
CHTR	New	CHARTER COMMUNICATIONS INC Ncl a	$18,223,000	–	79,700	–	2.85%	–
EV	New	EATON VANCE CORP	$18,164,000	–	513,973	–	2.84%	–
CAB	New	CABELAS INC	$9,461,000	–	189,000	–	1.48%	–
V	New	VISA INC	$8,225,000	–	110,900	–	1.28%	–
AMZN	New	AMAZON COM INC	$5,582,000	–	7,800	–	0.87%	–
LILAK	New	LIBERTY GLOBAL PLC	$2,894,000	–	89,059	–	0.45%	–

Q4 2015

			Value		Shares		↓ Weighting
HURN	Exit	HURON CONSULTING GROUP INC	$0	–	-48,800	–	-0.68%	–
JNS	Exit	JANUS CAP GROUP INC	$0	–	-513,000	–	-1.56%	–
IMS	Exit	IMS HEALTH HLDGS INC	$0	–	-338,000	–	-2.20%	–
TWX	Exit	TIME WARNER INC	$0	–	-161,000	–	-2.48%	–
TW	Exit	TOWERS WATSON & COcl a	$0	–	-110,485	–	-2.90%	–
KFY	Exit	KORN FERRY INTL	$0	–	-419,000	–	-3.10%	–
EVHC	Exit	ENVISION HEALTHCARE HLDGS IN	$0	–	-474,200	–	-3.91%	–
IVZ	Exit	INVESCO LTD	$0	–	-581,943	–	-4.07%	–
FIS	Exit	FIDELITY NATL INFORMATION SV	$0	–	-285,022	–	-4.28%	–
MKTX	Exit	MARKETAXESS HLDGS INC	$0	–	-223,505	–	-4.65%	–
NICE	Exit	NICE SYS LTDsponsored adr	$0	–	-418,054	–	-5.27%	–
LM	Exit	LEGG MASON INC	$0	–	-589,900	–	-5.50%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-39,030	–	-5.58%	–
EBAY	Exit	EBAY INC	$0	–	-1,089,157	–	-5.96%	–
PCLN	Exit	PRICELINE GRP INC	$0	–	-23,350	–	-6.47%	–
SEIC	Exit	SEI INVESTMENTS CO	$0	–	-619,125	–	-6.68%	–
EFX	Exit	EQUIFAX INC	$0	–	-372,290	–	-8.10%	–
SSNC	Exit	SS&C TECHNOLOGIES HLDGS INC	$0	–	-533,657	–	-8.37%	–
MSCI	Exit	MSCI INC	$0	–	-647,927	–	-8.62%	–
CCI	Exit	CROWN CASTLE INTL CORP NEW	$0	–	-544,950	–	-9.62%	–

Q3 2015

			Value		Shares		↓ Weighting
CCI	Buy	CROWN CASTLE INTL CORP NEW	$42,980,000	+40.2%	544,950	+42.7%	9.62%	+35.7%
MSCI	Buy	MSCI INC	$38,526,000	+25.2%	647,927	+29.6%	8.62%	+21.2%
SSNC	Sell	SS&C TECHNOLOGIES HLDGS INC	$37,377,000	-18.1%	533,657	-26.9%	8.37%	-20.8%
EFX	Buy	EQUIFAX INC	$36,179,000	+13.4%	372,290	+13.3%	8.10%	+9.7%
SEIC	Sell	SEI INVESTMENTS CO	$29,860,000	-12.8%	619,125	-11.3%	6.68%	-15.5%
PCLN	Buy	PRICELINE GRP INC	$28,881,000	+123.4%	23,350	+107.9%	6.47%	+116.3%
EBAY	New	EBAY INC	$26,619,000	–	1,089,157	–	5.96%	–
GOOGL	New	GOOGLE INCcl a	$24,916,000	–	39,030	–	5.58%	–
LM	New	LEGG MASON INC	$24,546,000	–	589,900	–	5.50%	–
NICE	Buy	NICE SYS LTDsponsored adr	$23,549,000	-5.7%	418,054	+6.4%	5.27%	-8.8%
MKTX	New	MARKETAXESS HLDGS INC	$20,759,000	–	223,505	–	4.65%	–
FIS	New	FIDELITY NATL INFORMATION SV	$19,119,000	–	285,022	–	4.28%	–
IVZ	New	INVESCO LTD	$18,174,000	–	581,943	–	4.07%	–
EVHC	Sell	ENVISION HEALTHCARE HLDGS IN	$17,446,000	-17.9%	474,200	-11.9%	3.91%	-20.6%
KFY	New	KORN FERRY INTL	$13,856,000	–	419,000	–	3.10%	–
TW	New	TOWERS WATSON & COcl a	$12,969,000	–	110,485	–	2.90%	–
TWX	New	TIME WARNER INC	$11,069,000	–	161,000	–	2.48%	–
IMS	New	IMS HEALTH HLDGS INC	$9,836,000	–	338,000	–	2.20%	–
JNS	New	JANUS CAP GROUP INC	$6,977,000	–	513,000	–	1.56%	–
HURN	Sell	HURON CONSULTING GROUP INC	$3,051,000	-92.2%	48,800	-91.3%	0.68%	-92.5%
VNTV	Exit	VANTIV INCcl a	$0	–	-90,469	–	-0.80%	–
VRNT	Exit	VERINT SYS INC	$0	–	-176,270	–	-2.48%	–
MS	Exit	MORGAN STANLEY	$0	–	-282,500	–	-2.53%	–
CHL	Exit	CHINA MOBILE LIMITEDsponsored adr	$0	–	-227,000	–	-3.36%	–
AVGO	Exit	AVAGO TECHNOLOGIES LTD	$0	–	-131,600	–	-4.05%	–
IBKR	Exit	INTERACTIVE BROKERS GROUP IN	$0	–	-433,115	–	-4.16%	–
NLSN	Exit	NIELSEN N V	$0	–	-452,373	–	-4.68%	–
PTC	Exit	PTC INC	$0	–	-737,300	–	-6.99%	–
NTRS	Exit	NORTHERN TR CORP	$0	–	-460,600	–	-8.14%	–

Q2 2015

			Value		Shares		↓ Weighting
SSNC	New	SS&C TECHNOLOGIES HLDGS INC	$45,656,000	–	730,501	–	10.56%	–
HURN	New	HURON CONSULTING GROUP INC	$39,136,000	–	558,361	–	9.05%	–
NTRS	New	NORTHERN TR CORP	$35,217,000	–	460,600	–	8.14%	–
SEIC	New	SEI INVESTMENTS CO	$34,224,000	–	698,025	–	7.92%	–
EFX	New	EQUIFAX INC	$31,913,000	–	328,690	–	7.38%	–
MSCI	New	MSCI INC	$30,760,000	–	499,755	–	7.11%	–
CCI	New	CROWN CASTLE INTL CORP NEW	$30,659,000	–	381,800	–	7.09%	–
PTC	New	PTC INC	$30,244,000	–	737,300	–	6.99%	–
NICE	New	NICE SYS LTDsponsored adr	$24,984,000	–	392,886	–	5.78%	–
EVHC	New	ENVISION HEALTHCARE HLDGS IN	$21,260,000	–	538,500	–	4.92%	–
NLSN	New	NIELSEN N V	$20,253,000	–	452,373	–	4.68%	–
IBKR	New	INTERACTIVE BROKERS GROUP IN	$18,000,000	–	433,115	–	4.16%	–
AVGO	New	AVAGO TECHNOLOGIES LTD	$17,494,000	–	131,600	–	4.05%	–
CHL	New	CHINA MOBILE LIMITEDsponsored adr	$14,548,000	–	227,000	–	3.36%	–
PCLN	New	PRICELINE GRP INC	$12,930,000	–	11,230	–	2.99%	–
MS	New	MORGAN STANLEY	$10,958,000	–	282,500	–	2.53%	–
VRNT	New	VERINT SYS INC	$10,708,000	–	176,270	–	2.48%	–
VNTV	New	VANTIV INCcl a	$3,455,000	–	90,469	–	0.80%	–

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