Statement of Investments -- March 31, 2026

 

Common Stocks-- 102.19%  Description  Shares   Value 
Auto & Truck Dealerships-- 0.92%  LITHIA MTRS INC   10,759    2,686,737 
Auto Parts-- 1.69%  ALLISON TRANSMISSION   42,290    4,950,467 
Banks - Diversified-- 5.28%  WELLS FARGO & CO NEW   106,400    8,470,504 
   BANK OF AMERICA CORP   117,500    5,728,125 
   JPMORGAN CHASE & CO   4,380    1,288,421 
            15,487,050 
Biotechnology-- 0.67%  HALOZYME THERAPEUTICS (1)   30,300    1,958,289 
Capital Markets-- 6.69%  GOLDMAN SACHS GROUP INC   23,200    19,626,968 
Consumer Cyclical-- 2.12%  AMAZON COM INC (1)   29,855    6,217,901 
Credit Services-- 0.18%  CREDIT ACCEPTANCE CORP (1)   1,220    516,621 
Engineering & Construction-- 4.10%  COMFORT SYS USA INC   8,720    12,024,793 
Entertainment-- 0.87%  NETFLIX INC (1)   26,500    2,547,975 
Footwear & Accessories-- 0.97%  ON HOLDING AG (1)   84,100    2,861,082 
Healthcare Plans-- 3.02%  THE CIGNA GROUP   30,710    8,191,893 
   UNITEDHEALTH GROUP   2,489    673,499 
            8,865,391 
Insurance - Diversified-- 0.55%  BERKSHIRE HATHAWAY INC (1)   3,364    1,612,029 
Internet Content & Information-- 13.57%  ALPHABET INC      VOTING   99,900    28,727,244 
   META PLATFORMS INC   19,400    11,099,322 
            39,826,566 
Internet Retail-- 0.21%  ALIBABA GRP HLDG LTD ADR   4,900    614,754 
Medical Instruments & Supplies-- 2.62%  ALIGN TECH INC (1)   44,925    7,701,493 
Oil & Gas Equipment & Services-- 2.26%  SLB LTD   129,000    6,629,310 
Oil & Gas Integrated-- 9.30%  EXXON MOBIL CORP   160,800    27,281,328 
Resorts & Casinos-- 1.04%  VAIL RESORTS INC   23,708    3,042,211 
Semiconductor Equipment & Materials-- 11.34%  APPLIED MATERIALS INC   88,236    30,158,182 
   QNITY ELECTRONICS   26,970    3,111,799 
            33,269,981 
Semiconductors-- 21.82%  MICRON TECHNOLOGY INC   82,080    27,729,907 
   MARVELL TECHNOLOGY INC   130,800    12,955,740 
   TAIWAN SEMICONDUCTOR   36,550    12,352,073 
   ADVANCED MICRO (1)   54,000    10,985,220 
            64,022,940 
Software - Infrastructure-- 5.82%  DIGITALOCEAN HOLDINGS (1)   87,600    7,514,328 
   TWILIO INC (1)   44,000    5,536,080 
   ZETA GLOBAL HOLDINGS (1)   253,163    4,030,355 
            17,080,763 
Specialty Chemicals-- 0.84%  DUPONT DE NEMOURS   53,940    2,470,452 
Telecom Services-- 1.82%  CHARTER COMMUNICATIONS (1)   24,772    5,347,779 
Tobacco-- 1.05%  BRITISH AMERN TOB PLC   52,500    3,069,675 
Travel Services-- 3.47%  AIRBNB INC (1)   58,885    7,435,998 
   EXPEDIA INC   11,908    2,749,438 
            10,185,436 
   Common Stocks (cost: $147,739,107)       $299,897,991 
Exchange Traded Funds-- 4.14%             
Small-Cap Core-- 2.51%  ISHARES RUSSELL 2000 ETF   29,705    7,366,840 
Commodities-- 1.63%  ISHARES ETHEREUM TR  ETF (1)   192,900    3,053,607 
   ISHARES BITCOIN TR   ETF (1)   45,000    1,728,900 
   Exchange-Traded Funds (cost: $15,457,578)        12,149,347 
Short-Term Investments-- 10.93%             
Money Market-- 10.93%  JPMorgan Prime (3.69%)        22,704,850 
   Fidelity MM Treasury (3.59%)        9,376,999 
   Short-Term Investments (cost: $32,081,849)        32,081,849 
              
   Total Investments (cost: $195,278,534)       $344,129,187 
              
   Net Assets at March 31, 2026       $305,468,603