| Number of Shares | Value | |
| COMMON STOCKS — 69.7% | ||
| COMMUNICATIONS — 6.3% | ||
| 10,778 | Alphabet, Inc. - Class C | $15,235,889 |
| 6,718 | Booking Holdings, Inc. | 10,697,340 |
| 44,545 | Facebook, Inc. - Class A | 10,114,833 |
| 306,682 | Tencent Holdings Ltd. - ADR | 19,729,374 |
| 20,029 | VeriSign, Inc. | 4,142,598 |
| 59,920,034 | ||
| CONSUMER DISCRETIONARY — 16.2% | ||
| 77,890 | Adidas AG - ADR | 10,217,953 |
| 80,318 | Alibaba Group Holding Ltd. - ADR | 17,324,593 |
| 5,442 | Amazon.com, Inc. | 15,013,498 |
| 56,272 | Avalara, Inc. | 7,489,240 |
| 299,102 | Bunzl PLC - ADR | 8,004,927 |
| 276,981 | Copart, Inc. | 23,064,208 |
| 254,104 | DR Horton, Inc. | 14,090,067 |
| 114,049 | Hilton Worldwide Holdings, Inc. | 8,376,899 |
| 489,232 | Industria de Diseno Textil SA - ADR | 6,475,670 |
| 65,715 | LVMH Moet Hennessy Louis Vuitton - ADR | 5,764,408 |
| 80,326 | New Oriental Education & Technology Group, Inc. | 10,460,855 |
| 7,146 | NVR, Inc. | 23,287,028 |
| 129,201 | Whitbread PLC | 3,559,636 |
| 153,128,982 | ||
| CONSUMER STAPLES — 1.9% | ||
| 60,849 | Nestle SA | 6,726,109 |
| 143,604 | Unilever PLC | 7,880,987 |
| 160,642 | Wal-mart de Mexico SAB de CV - ADR | 3,821,561 |
| 18,428,657 | ||
| ENERGY — 0.6% | ||
| 469,702 | National Oilwell Varco, Inc. | 5,753,849 |
| FINANCIALS — 12.7% | ||
| 440,909 | Carlyle Group, Inc. | 12,301,361 |
| 33,281 | Credit Acceptance Corp. | 13,945,072 |
| 28,052 | Credit Acceptance Corp. | 11,754,069 |
| 157,248 | First Republic Bank | 16,666,715 |
| 97,710 | Jones Lang LaSalle, Inc. | 10,109,077 |
| 410,708 | KKR & CO INC - Class A | 12,682,663 |
| 52,862 | Mastercard, Inc. - Class A | 15,631,293 |
| 147,143 | Primerica, Inc. | 17,156,874 |
| 52,437 | Visa, Inc. - Class A | 10,129,255 |
| 120,376,379 |
| Number of Shares | Value | |
| COMMON STOCKS (Continued) | ||
| HEALTH CARE — 7.4% | ||
| 37,792 | Anthem, Inc. | $9,938,540 |
| 239,375 | Coloplast A/S - ADR | 3,708,254 |
| 119,266 | CSL LTD SPONSORED ADR | 11,783,469 |
| 107,560 | CVS Health Corp. | 6,988,173 |
| 94,926 | ICON PLC1 | 15,991,234 |
| 124,132 | Medtronic PLC1 | 11,382,905 |
| 423,511 | Siemens Healthineers AG - ADR | 10,143,639 |
| 69,936,214 | ||
| INDUSTRIALS — 7.7% | ||
| 348,046 | Fastenal Company | 14,910,290 |
| 410,502 | General Electric Co. | 2,803,729 |
| 276,909 | Graco, Inc. | 13,288,863 |
| 285,044 | HEICO Corp., Class A | 23,156,978 |
| 22,100 | Landstar System, Inc. | 2,482,051 |
| 24,753 | TransDigm Group, Inc. | 10,942,064 |
| 28,213 | Watsco, Inc. | 5,013,450 |
| 72,597,425 | ||
| TECHNOLOGY — 16.9% | ||
| 60,847 | Accenture PLC - Class A | 13,065,068 |
| 63,564 | Amadeus IT Group, S.A. - ADR | 3,311,170 |
| 20,204 | Aspen Technology, Inc. | 2,093,336 |
| 51,110 | Check Point Software Technologies Ltd.1 | 5,490,747 |
| 10,836 | CoStar Group, Inc. | 7,700,820 |
| 43,815 | Dassault Systemes SE - ADR | 7,558,806 |
| 352,185 | Experian PLC - ADR | 12,267,202 |
| 51,846 | Microsoft Corp. | 10,551,180 |
| 39,835 | Moody's Corp. | 10,943,870 |
| 3,703 | MSCI, Inc. | 1,236,135 |
| 18,782 | NVIDIA Corp. | 7,135,470 |
| 127,971 | Oracle Corp. | 7,072,957 |
| 148,511 | Qorvo, Inc. | 16,414,921 |
| 345,631 | RELX PLC | 8,143,066 |
| 224,331 | Sage Group PLC - ADR | 7,448,507 |
| 49,934 | salesforce.com, Inc. | 9,354,136 |
| 102,225 | SAP SE | 14,311,500 |
| 128,836 | Skyworks Solutions, Inc. | 16,472,971 |
| 160,571,862 | ||
| TOTAL COMMON STOCKS | ||
| (Cost $547,680,564) | 660,713,402 |
| Number of Units | Value | |
| PRIVATE INVESTMENT FUNDS — 25.3% | ||
| 239,530,225 | Echo Street GoodCo Select, L.P. | $239,530,225 |
| TOTAL PRIVATE INVESTMENT FUNDS | ||
| (Cost $210,768,081) | 239,530,225 | |
| TOTAL INVESTMENTS — 95.0% | ||
| (Cost $758,448,645) | 900,243,627 | |
| Other Assets in Excess of Liabilities — 5.0% | 47,855,707 | |
| TOTAL NET ASSETS — 100.0% | $948,099,334 |
| ADR | – American Depository Receipt |
| PLC | – Public Limited Company |
| 1 | Foreign security denominated in U.S. Dollars. |
