| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 1,137,443 shs Kellogg Co | 346,083 | 73,274,078 |
| 5,000 shs Entergy Louisiana Llc Pfd | 124,000 | 126,500 |
| 186,302 shs Dynamic Equity Managers Portfolio 1 | 121,450,450 | 116,319,081 |
| 382,962 shs Dynamic Equity Managers Portfolio 2 | 181,031,537 | 189,181,319 |
| 938 shs Alphabet Inc. Cmn Class C | 1,005,361 | 2,714,183 |
| 1,195 shs Amazon.Com Inc Cmn | 2,369,016 | 3,984,536 |
| 20,312 shs Applied Materials Inc Cmn | 2,722,048 | 3,196,296 |
| 40,681 shs Applovin Corporation Cmn Class A | 3,779,476 | 3,834,591 |
| 58,202 shs Carlyle Group Inc Cmn | 1,599,629 | 3,195,290 |
| 30,728 shs Costar Group Inc Cmn | 2,519,281 | 2,428,444 |
| 16,518 shs Heico Corp Cl-A Cmn | 1,503,156 | 2,122,893 |
| 36,410 shs Kkr & Co. Inc. Cmn | 917,123 | 2,712,545 |
| 4,096 shs Lam Research Corporation Cmn | 2,437,609 | 2,945,638 |
| 11,997 shs Mastercard Incorporated Cmn Class A | 2,075,577 | 4,310,762 |
| 9,538 shs Meta Platforms Inc Cmn Class A | 1,664,945 | 3,208,106 |
| 7,348 shs Microsoft Corporation Cmn | 792,125 | 2,471,279 |
| 5,700 shs Nvidia Corporation Cmn | 737,356 | 1,676,427 |
| 18,044 shs Qorvo, Inc. Cmn | 1,681,199 | 2,821,901 |
| 9,614 shs Salesforce.Com Inc Cmn | 1,835,189 | 2,443,206 |
| 18,144 shs Skyworks Solutions, Inc. Cmn | 1,927,139 | 2,814,860 |
| 18,946 shs Splunk Inc Cmn | 3,043,667 | 2,192,431 |
| 6,021 shs Transdigm Group Incorporated Cmn | 2,756,997 | 3,831,042 |
| 16,903 shs Upstart Holdings, Inc. Cmn | 3,339,289 | 2,557,424 |
| 11,642 shs Visa Inc. Cmn | 1,345,960 | 2,522,938 |
| 15,305 shs Wayfair Inc. Cmn | 3,716,273 | 2,907,491 |
| 123,700 shs At&T Inc. Cmn | 3,657,339 | 3,043,020 |
| 109,500 shs Axalta Coating Systems Ltd. Cmn | 2,837,710 | 3,626,640 |
| 77,500 shs Bank Of America Corp Cmn | 1,144,101 | 3,447,975 |
| 10,540 shs Berkshire Hathaway Inc | 2,156,248 | 3,151,460 |
| 63,800 shs Coca-Cola Company (The) Cmn | 3,356,194 | 3,777,598 |
| 47,500 shs Corning Incorporated Cmn | 967,197 | 1,768,425 |
| 34,235 shs Devon Energy Corporation (New) Cmn | 312,298 | 1,508,052 |
| 18,852 shs Dupont De Nemours Inc Cmn | 860,264 | 1,522,865 |
| 12,920 shs Fedex Corporation Cmn | 2,302,262 | 3,341,629 |
| 61,100 shs General Motors Company Cmn | 2,121,212 | 3,582,293 |
| 161,525 shs Graphic Packaging Hldgco Cmn | 1,861,738 | 3,149,738 |
| 178,225 shs Hanesbrand Inc. Cmn | 3,120,464 | 2,979,922 |
| 15,563 shs Intl. Flavors & Fragrance Cmn | 1,096,835 | 2,344,566 |
| 204,638 shs Mandiant Inc/Shr Cmn | 2,966,253 | 3,589,351 |
| 45,650 shs Merck & Co., Inc Cmn | 3,143,151 | 3,498,616 |
| 34,850 shs Micron Technology, Inc. Cmn | 1,490,158 | 3,246,278 |
| 155,250 shs Regions Financial Corporation Cmn | 2,025,235 | 3,384,450 |
| 14,560 shs Starbucks Corp Cmn | 877,582 | 1,703,083 |
| 109,343 shs Urban Outfitters Inc Cmn | 2,569,715 | 3,210,310 |
| 67,350 shs Walgreens Boots Alliance, Inc. Cmn | 3,228,191 | 3,512,976 |
| 16,125 shs Walt Disney Company (The) Cmn | 1,549,253 | 2,497,601 |
| 36,350 shs Westinghouse Air Brake Technol Cmn | 2,164,241 | 3,348,199 |
| 240,300 shs Lions Gate Entertainment Corp. Cmn Class (Lgfb) | 3,220,173 | 3,698,217 |
| 55 shs Cvs Health Corp Cmn | 2,974 | 5,674 |
| 100 shs Devon Energy Corporation (New) Cmn | 5,961 | 4,405 |
| 65 shs Dupont De Nemours Inc Cmn | 3,888 | 5,251 |
| 35 shs Fedex Corporation Cmn | 6,214 | 9,052 |
| 100 shs General Motors Company | 3,453 | 5,863 |
| 21,460 shs Agilysys, Inc. Cmn | 1,149,166 | 954,112 |
| 20,070 shs Argan, Inc Cmn | 913,323 | 776,508 |
| 49,770 shs Avid Bioservices, Inc. Cmn | 1,110,234 | 1,452,289 |
| 9,170 shs Chase Corporation Cmn | 1,040,562 | 912,965 |
| 97,753 shs Concrete Pumping Holdings Inc Cmn | 823,513 | 801,575 |
| 16,420 shs Eplus Inc. Cmn | 908,625 | 884,710 |
| 41,420 shs Hackett Group, Inc. Cmn | 822,579 | 850,353 |
| 22,240 shs Ies Holdings, Inc. Cmn | 1,038,474 | 1,126,234 |
| 22,030 shs Mueller Industries Inc. Cmn | 960,700 | 1,307,701 |
| 43,230 shs Nomad Foods Ltd Cmn | 1,140,644 | 1,097,610 |
| 17,190 shs Northrim Bancorp, Inc. Cmn | 709,839 | 747,077 |
| 12,180 shs Safety Insurance Group, Inc. Cmn | 977,373 | 1,035,665 |
| 116,830 shs Siga Technologies, Inc Mcn | 774,540 | 878,562 |
| 17,660 shs Stonex Group Inc. Cmn | 1,177,246 | 1,081,675 |
| 17,980 shs Ufp Technologies Inc Cmn | 1,213,282 | 1,263,275 |
| 3,380 shs Winmark Corp Cmn | 717,114 | 839,220 |
| 41,830 shs Alexander & Baldwin, Inc. Cmn | 908,649 | 1,049,515 |
| 81,170 shs Suntone Hotel Investors Inc. Cmn | 958,895 | 952,124 |
| 6,700 shs First Service Corporation Cmn | 1,246,250 | 1,316,349 |
| 38,860 shs Luxfer Holdings Plc Cmn | 830,573 | 750,387 |
| 50,586 shs Allegheny Technologies Inc Cmn | 972,496 | 805,835 |
| 3,326 shs Allegiant Travel Company Cmn | 640,769 | 622,095 |
| 14,829 shs Artisan Partners Asset Mgmt In Cmn | 763,076 | 706,454 |
| 3,100 shs Asbury Automotive Group, Inc. Cmn | 612,450 | 535,463 |
| 16,689 shs Avient Cor Cmn | 802,321 | 933,750 |
| 13,942 shs Banner Corporation Cmn | 775,931 | 845,861 |
| 12,868 shs Boyd Gaming Corporation | 761,196 | 843,755 |
| 11,845 shs Brink'S Company (The) Cmn | 911,859 | 776,677 |
| 18,193 shs Cactus, Inc. Cmn | 642,574 | 693,699 |
| 25,686 shs Cadence Bank Cmn | 739,038 | 765,186 |
| 1,320 shs Cmc Materials Inc Cmn | 165,202 | 253,031 |
| 11,324 shs Darling Ingredients Inc Cmn | 817,365 | 784,640 |
| 4,319 shs Exlervice Holdings, Inc. Cmn | 507,653 | 625,262 |
| 18,709 shs Formfactor Inc Cmn | 703,635 | 855,375 |
| 8,346 shs Gibraltar Industries Inc Cmn | 599,340 | 556,511 |
| 35,528 shs Gray Television, Inc. Cmn | 789,981 | 716,244 |
| 39,847 shs Harsco Corporation Cmn | 767,998 | 665,843 |
| 14,360 shs Hillenbrand Inc Cmn | 642,671 | 746,576 |
| 12,989 shs Horace Mann Educators Corp Cmn | 519,488 | 502,674 |
| 11,676 shs Ii-Vi Inc Cmn | 749,068 | 797,821 |
| 9,393 shs Independent Bank Corp. Cmn | 727,726 | 765,811 |
| 7,300 shs Integer Holdings Corporation Cmn | 662,834 | 624,807 |
| 20,530 shs Kennametal Inc. Cmn | 753,456 | 737,232 |
| 10,600 shs Madison Square Garden Entertai Cmn | 831,922 | 745,604 |
| 9,180 shs Mantech International Corporat Cmn Class A | 768,669 | 669,497 |
| 4,318 shs Marriot Vacations Worldwide Corporation Cmn | 628,468 | 729,656 |
| 13,605 shs Maxlinear, Inc. Cmn | 688,008 | 1,025,681 |
| 10,098 shs Merit Medical Sys Inc Cmn | 674,490 | 629,105 |
| 4,886 shs Msa Safety Inc Cmn | 786,277 | 737,591 |
| 12,124 shs Nuvasive, Inc. Cmn | 711,630 | 636,268 |
| 53,576 shs Onespaworld Holdings Limited Cmn | 540,081 | 536,832 |
| 18,036 shs Pacific Premier Bancorp, Inc Cmn | 720,969 | 721,981 |
| 16,658 shs Pdc Energy Inc Cmn | 663,503 | 812,577 |
| 6,991 shs Pvh Corp Cmn | 784,170 | 745,590 |
| 4,792 shs Regal Rexnord Corp Cmn | 683,538 | 815,503 |
| 14,450 shs Spx Corporation Cmn | 931,625 | 862,376 |
| 10,052 shs Spx Flow, Inc. Cmn | 800,544 | 869,297 |
| 11,105 shs Stifel Financial Corp Cmn | 755,324 | 782,014 |
| 17,897 shs Synovus Financial Corp Cmn | 773,417 | 856,729 |
| 19,174 shs Zurn Wtr Soluti/Sh Cmn (Zws) | 574,875 | 697,934 |
| 25,588 shs Corporate Office Properties Trust | 724,845 | 715,696 |
| 32,863 shs Physicians Rlty Tr Cmn | 610,415 | 618,810 |
| 1,542,440 shs Gs Gqg Partners International Opportuniites Fund Class P | 30,666,201 | 30,216,400 |