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
Estimated average burden
hours per response: 23.8
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABM Industries COM 000957100   7,283,255 170,768 SH   SOLE   170,768 0 0
ALPS Cln Energy ETF COM 00162Q460   4,554,144 100,800 SH   SOLE   100,800 0 0
Allison Transmission COM 01973R101   23,846,728 422,365 SH   SOLE   422,365 0 0
Amdocs Ltd. COM G02602103   18,932,740 191,530 SH   SOLE   191,530 0 0
Amer. Water Works COM 030420103   18,286,989 128,105 SH   SOLE   128,105 0 0
Ametek Inc. COM 031100100   20,894,499 129,074 SH   SOLE   129,074 0 0
Amphenol Corp. COM 032095101   18,935,355 222,900 SH   SOLE   222,900 0 0
Analog Devices COM 032654105   13,869,498 71,195 SH   SOLE   71,195 0 0
Aon plc COM g0403h108   38,161,170 110,548 SH   SOLE   110,548 0 0
Avantor Inc. COM 05352A100   21,739,844 1,058,415 SH   SOLE   1,058,415 0 0
Ball Corp. COM 058498106   7,141,203 122,680 SH   SOLE   122,680 0 0
Clear Secure Inc. COM 18467V109   273,406 11,800 SH   SOLE   11,800 0 0
Danaher Corp. COM 235851102   21,636,000 90,150 SH   SOLE   90,150 0 0
Ecolab Inc. COM 278865100   19,839,920 106,272 SH   SOLE   106,272 0 0
First Trust Cln Edge COM 33737A108   6,822,288 64,900 SH   SOLE   64,900 0 0
Fiserv Inc. COM 337738108   31,273,846 247,910 SH   SOLE   247,910 0 0
Franklin Elec. Co., Inc. COM 353514102   19,573,123 190,215 SH   SOLE   190,215 0 0
Freeport-McMoRan COM 35671D857   350,000 8,750 SH   SOLE   8,750 0 0
Generac Holdings COM 368736104   9,536,863 63,950 SH   SOLE   63,950 0 0
HEICO Corp. COM 422806109   2,625,790 14,840 SH   SOLE   14,840 0 0
Invesco Water ETF COM 46137V142   1,848,464 32,780 SH   SOLE   32,780 0 0
Iridium Comm. COM 46269C102   32,275,378 519,565 SH   SOLE   519,565 0 0
Kadant Inc. COM 48282T104   1,485,849 6,690 SH   SOLE   6,690 0 0
Kornit Digital COM M6372Q113   2,326,691 79,220 SH   SOLE   79,220 0 0
Microsoft Corp. COM 594918104   4,438,598 13,034 SH   SOLE   13,034 0 0
NexGen Energy Ltd. COM 65340P106   5,836,193 1,235,500 SH   SOLE   1,235,500 0 0
Ormat Technologies COM 686688102   1,673,568 20,800 SH   SOLE   20,800 0 0
Peabody Energy Corp. COM 704551100   264,252 12,200 SH   SOLE   12,200 0 0
Progressive Corp. COM 743315103   29,060,510 219,540 SH   SOLE   219,540 0 0
Rollins, Inc. COM 775711104   6,260,461 146,170 SH   SOLE   146,170 0 0
Roper Technologies COM 776696106   1,226,040 2,550 SH   SOLE   2,550 0 0
Ryan Specialty Hldngs COM 78351F107   20,964,977 467,030 SH   SOLE   467,030 0 0
Service Corp. Int'l COM 817565104   25,522,286 395,143 SH   SOLE   395,143 0 0
Visa Inc. COM 92826C839   24,042,475 101,240 SH   SOLE   101,240 0 0
Watsco, Inc. COM 942622200   9,723,670 25,490 SH   SOLE   25,490 0 0
West Pharm Svcs Inc COM 955306105   19,919,038 52,080 SH   SOLE   52,080 0 0
Wheaton Precious Mtls COM 962879102   15,379,837 355,850 SH   SOLE   355,850 0 0
Wheaton Precious Mtls COM 962879102   45,957,771 1,063,345 SH   SOLE   1,063,345 0 0