Schedule of Investments

September 30, 2026 (unaudited)

NorthQuest Capital Fund, Inc.

Shares or Principal

Security Description

Fair Value ($)(1)

Common Stocks - 99.22%

Aerospace & Defense - 4.38%

GE Aerospace

1,600

499,664

Computer Communications Equipment - 7.87%

Arista Networks, Inc. (2)

4,400

895,796

Construction Machinery & Equipment - 4.99%

Caterpillar, Inc.

700

567,553

Electronic Compnents, NEC - 5.09%

Vertiv Holdings Co.

2,400

579,144

Electronic Computers - 7.02%

Apple, Inc.

2,400

799,248

Electronic Connectors - 5.04%

Amphenol Corp.

6,800

573,240

Insurance Agents, Brokers & Services - 3.81%

Arthur J. Gallagher & Co.

1,900

433,409

Miscellaneous Fabricated Metal Products - 5.04%

Parker-Hannifin Corp.

600

573,252

Retail-Building Materials, Hardware, Garden Supply - 3.41%

The Sherwin-Williams Co.

1,200

387,924

Retail-Lumber & Other Building Materials Dealers - 2.50%

The Home Depot, Inc.

1,000

284,490

Security & Commodity Brokers, Dealers, Exchanges & Services - 2.94%

Intercontinental Exchange, Inc.

2,200

334,466

Semiconductors & Related Devices - 13.70%

Monolithic Power Systems, Inc.  

700

943,054

NVIDIA Corp.

2,700

616,626

1,559,680

Services-Business Services - 4.36%

Mastercard, Inc.

900

496,323

Services-Consumer Credit Reporting, Collection Agencies - 2.77%

S&P Global, Inc.

800

315,576

Servies-Prepackaged Software - 4.51%

Microsoft Corp.

1,000

512,900

Software-Infrastructure - 7.85%

Fortinet, Inc. (2)

5,000

893,800

Specialty Industry Machinery - 11.54%

Lam Research Corp.  

4,000

1,314,040

Surgical & Medical Instruments- 2.42%

Stryker Corp.

1,000

275,390

Total Common Stocks

(Cost $            4,321,963)

11,295,895

Short-Term Invesments - 0.84%

Argent Institutional Trust Company Bank Deposit - 3.54% (3)

96,071

96,071

Total Short Term Investments

(Cost $                 96,071)

96,071

Total Investments - 100.06%

(Cost $            4,418,034)

11,391,966

Liabilities in Excess of Other Assets - (0.06%)

(7,612)

Total Net Assets - 100.00%

11,384,354

(1)  Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments.

       These inputs are summarized in the three broad levels listed below.

        • Level 1 - quoted prices in active markets for identical securities

        • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

        • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

       The following is a summary of the inputs used as of September 30, 2026 in valuing the Fund's assets carried at fair value:

Investments in

Other Financial

Valuation Inputs

Securities

Instruments

Level 1 - Quoted Prices

$

11,391,966

$

-

Level 2 - Other Significant Observable Inputs

-

-

Level 3 - Significant Unobservable Inputs

-

-

Total

$

11,391,966

$

-

       The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term

       debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment

       Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active

       market, such securities are reflected as Level 2.

(2)  Represents non-income producing securities.

(3)  Variable rate security; the coupon rate shown represents the yield at September 30, 2026.