The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ATHA Energy Corp. COM 046824108 8,495 19,000 SH SOLE 19,000 0 0
Agilent Tech, Inc. COM 00846U101 6,514,152 55,200 SH SOLE 55,200 0 0
Allison Transmission COM 01973R101 15,630,320 164,547 SH SOLE 164,547 0 0
Amdocs Ltd. COM G02602103 22,436,007 245,901 SH SOLE 245,901 0 0
Amer. Water Works COM 030420103 22,438,999 161,304 SH SOLE 161,304 0 0
Ametek Inc. COM 031100100 25,277,579 139,686 SH SOLE 139,686 0 0
Amphenol Corp. COM 032095101 42,265,000 428,000 SH SOLE 428,000 0 0
Analog Devices COM 032654105 29,270,748 122,976 SH SOLE 122,976 0 0
Aon plc COM g0403h108 31,620,352 88,632 SH SOLE 88,632 0 0
Avantor Inc. COM 05352A100 1,763,260 131,000 SH SOLE 131,000 0 0
Charles Schwab COM 808513105 21,985,464 240,963 SH SOLE 240,963 0 0
Danaher Corp. COM 235851102 21,640,902 109,552 SH SOLE 109,552 0 0
Donaldson Co., Inc. COM 257651109 14,506,980 209,185 SH SOLE 209,185 0 0
Ecolab Inc. COM 278865100 28,286,620 104,983 SH SOLE 104,983 0 0
Enphase Energy, Inc. COM 29355a107 539,240 13,600 SH SOLE 13,600 0 0
Ferguson Enterprises COM 31488V107 16,440,125 75,500 SH SOLE 75,500 0 0
First Trust Cln Edge COM 33737A108 6,520,038 46,900 SH SOLE 46,900 0 0
Fiserv Inc. COM 337738108 29,196,599 169,344 SH SOLE 169,344 0 0
Franklin Elec. Co., Inc. COM 353514102 15,613,952 173,991 SH SOLE 173,991 0 0
Generac Holdings COM 368736104 2,814,076 19,650 SH SOLE 19,650 0 0
HEICO Corp. COM 422806109 6,412,400 19,550 SH SOLE 19,550 0 0
Invesco Water ETF COM 46137V142 2,291,650 32,780 SH SOLE 32,780 0 0
Kadant Inc. COM 48282T104 17,515,304 55,175 SH SOLE 55,175 0 0
Kornit Digital COM M6372Q113 12,688,643 637,300 SH SOLE 637,300 0 0
Microsoft Corp. COM 594918104 5,398,888 10,854 SH SOLE 10,854 0 0
NexGen Energy Ltd. COM 65340P106 8,584,780 1,237,000 SH SOLE 1,237,000 0 0
Ocular Therapeutix COM 67576A100 152,192 16,400 SH SOLE 16,400 0 0
Ormat Technologies COM 686688102 2,512,800 30,000 SH SOLE 30,000 0 0
Progressive Corp. COM 743315103 17,147,089 64,255 SH SOLE 64,255 0 0
Rollins, Inc. COM 775711104 25,778,298 456,900 SH SOLE 456,900 0 0
Roper Technologies COM 776696106 1,445,442 2,550 SH SOLE 2,550 0 0
Ryan Specialty Hldngs COM 78351F107 31,416,207 462,071 SH SOLE 462,071 0 0
Service Corp. Int'l COM 817565104 30,039,286 369,033 SH SOLE 369,033 0 0
Visa Inc. COM 92826C839 34,514,766 97,211 SH SOLE 97,211 0 0
Watsco, Inc. COM 942622200 17,591,049 39,833 SH SOLE 39,833 0 0
Wheaton Precious Mtls COM 962879102 19,404,433 216,085 SH SOLE 216,085 0 0
Wheaton Precious Mtls COM 962879102 49,155,622 547,390 SH SOLE 547,390 0 0