Shares
Market
Value
COMMON
STOCKS
—
95.2%
INFORMATION
TECHNOLOGY
–
SOFTWARE
AND
SERVICES
—
18.6%
4,400
Adobe
Inc.†
..............................................
$
1,210,880
3,120
Adyen
NV†
...............................................
3,891,146
16,000
Atlassian
Corp.
plc,
Cl. A†
.........................
3,369,440
24,200
Block
Inc.†
...............................................
1,330,758
26,200
Cloudflare
Inc.,
Cl. A†
...............................
1,449,122
13,200
CrowdStrike
Holdings
Inc.,
Cl. A†
.............
2,175,492
6,700
Mastercard
Inc.,
Cl. A
...............................
1,905,078
26,500
PayPal
Holdings
Inc.†
...............................
2,280,855
5,300
ServiceNow
Inc.†
.....................................
2,001,333
11,200
Snowflake
Inc.,
Cl. A†
...............................
1,903,552
17,000
Visa
Inc.,
Cl. A
..........................................
3,020,050
6,000
Zscaler
Inc.†
............................................
986,220
25,523,926
CONSUMER
DISCRETIONARY
—
18.0%
81,000
Amazon.com
Inc.†
...................................
9,153,000
2,000
Christian
Dior
SE
......................................
1,152,689
6,780
Kering
SA
.................................................
3,007,261
12,100
Lululemon
Athletica
Inc.†
.........................
3,382,676
9,400
LVMH
Moet
Hennessy
Louis
Vuitton
SE
....
5,542,003
55,300
Puma
SE
..................................................
2,558,185
24,795,814
INFORMATION
TECHNOLOGY
–
SEMICONDUCTORS,
HARDWARE,
AND
EQUIPMENT
—
17.1%
45,240
Apple
Inc.
................................................
6,252,168
5,170
ASML
Holding
NV
....................................
2,147,359
14,040
Keyence
Corp.
..........................................
4,641,070
18,500
Lasertec
Corp.
..........................................
1,860,766
32,000
Lattice
Semiconductor
Corp.†
...................
1,574,720
43,500
Marvell
Technology
Inc.
............................
1,866,585
21,600
NVIDIA
Corp.
...........................................
2,622,024
10,700
SolarEdge
Technologies
Inc.†
...................
2,476,622
23,441,314
HEALTH
CARE
—
13.7%
12,000
Danaher
Corp.
..........................................
3,099,480
41,300
Edwards
Lifesciences
Corp.†
....................
3,412,619
10,350
Intuitive
Surgical
Inc.†
..............................
1,940,004
6,250
Thermo
Fisher
Scientific
Inc.
.....................
3,169,937
11,300
UnitedHealth
Group
Inc.
...........................
5,706,952
10,300
Zoetis
Inc.
................................................
1,527,387
18,856,379
INFORMATION
TECHNOLOGY
—
7.9%
41,300
Microsoft
Corp.
........................................
9,618,770
29,000
ZoomInfo
Technologies
Inc.†
....................
1,208,140
10,826,910
COMMUNICATION
SERVICES
—
7.2%
16,200
Alphabet
Inc.,
Cl. A†
.................................
1,549,530
38,920
Alphabet
Inc.,
Cl. C†
.................................
3,742,158
Shares
Market
Value
13,400
Meta
Platforms
Inc.,
Cl. A†
.......................
$
1,818,112
11,600
Netflix
Inc.†
..............................................
2,731,104
9,840,904
CONSUMER
STAPLES
—
3.4%
14,700
L'Oreal
SA
................................................
4,700,208
FINANCIALS
—
3.4%
169,000
Investor
AB,
Cl. B
.....................................
2,465,917
7,190
S&P
Global
Inc.
........................................
2,195,467
4,661,384
REAL
ESTATE
—
2.5%
16,300
American
Tower
Corp.,
REIT
.....................
3,499,610
INDUSTRIALS
—
2.2%
15,400
Nidec
Corp.
..............................................
862,033
8,250
Tesla
Inc.†
................................................
2,188,312
3,050,345
MATERIALS
—
1.2%
8,120
The
Sherwin-Williams
Co.
.........................
1,662,570
TOTAL
COMMON
STOCKS
..................
130,859,364
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
4.8%
$
6,672,000
U.S.
Treasury
Bills,
2.837%
to
3.037%††,
12/01/22
to
12/15/22
............................
6,635,961
TOTAL
INVESTMENTS
—
100.0%
(Cost
$111,238,081)
.............................
$
137,495,325
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
REIT
Real
Estate
Investment
Trust
Geographic
Diversification
%
of
Market
Value
Market
Value
United
States
........................
69.4
%
$
95,437,950
Europe
..............................
20.3
27,941,391
Japan
...............................
5.4
7,363,868
Canada
..............................
2.5
3,382,676
Asia/Pacific
.........................
2.4
3,369,440
100.0%
$
137,495,325