FRM

Fox Run Management Portfolio holdings

AUM $600M

1-Year Return 12.74%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4

This Quarter Return

-5.88%

1 Year Return

+12.74%

3 Year Return

+43.67%

5 Year Return

+88.84%

10 Year Return

–

AUM

$180M

AUM Growth

+$9.91M (+5.8%)

Cap. Flow

+$13.5M

Cap. Flow % of AUM

7.54%

Top 10 Holdings % Top 10 Hldgs %

7.78%

Holding

784

New

343

Increased

Reduced

Closed

309

Top Buys

1	Boeing BA	$1.09M
2	Procter & Gamble PG	$1.07M
3	Flex FLEX	$1.01M
4	InMode INMD	$1M
5	Hasbro HAS	$989K

Top Sells

1	SPDR S&P 500 ETF Trust SPY	$4.49M
2	iShares Russell 2000 ETF IWM	$4.31M
3	Bath & Body Works BBWI	$1.03M
4	Elanco Animal Health ELAN	$1.01M
5	TWTR Twitter, Inc. TWTR	$994K

Sector Composition

1	Technology	16.66%
2	Industrials	13.88%
3	Consumer Discretionary	13.5%
4	Financials	11.29%
5	Healthcare	10.74%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
176	176 Ford F $46.7B	$377K	0.21%	22,276 -6,367	-22%	-$108K
177	177 ServiceNow NOW $190B	$376K	0.21%	+676	New	+$376K
178	178 LiveRamp RAMP $1.86B	$373K	0.21%	+9,966	New	+$373K
179	NEWR 179 DELISTED New Relic, Inc. NEWR	$372K	0.21%	+5,560	New	+$372K
180	180 CrowdStrike CRWD $105B	$372K	0.21%	1,636 -288	-15%	-$65.5K
181	181 Highwoods Properties HIW $3.44B	$372K	0.21%	8,142 -10,723	-57%	-$490K
182	182 O'Reilly Automotive ORLY $89B	$371K	0.21%	8,130 +2,385	+42%	+$109K
183	183 Datadog DDOG $47.5B	$370K	0.21%	+2,445	New	+$370K
184	184 Costco COST $427B	$369K	0.21%	+640	New	+$369K
185	185 NetApp NTAP $23.7B	$368K	0.2%	4,430 +2,113	+91%	+$176K
186	186 First American FAF $6.83B	$366K	0.2%	+5,640	New	+$366K
187	187 Unum UNM $12.6B	$366K	0.2%	+11,611	New	+$366K
188	188 GE Aerospace GE $296B	$365K	0.2%	+6,403	New	+$365K
189	189 APA Corp APA $8.14B	$364K	0.2%	+8,819	New	+$364K
190	190 Iridium Communications IRDM $2.67B	$364K	0.2%	+9,032	New	+$364K
191	191 Snap SNAP $12.4B	$364K	0.2%	+10,111	New	+$364K
192	192 Best Buy BBY $16.1B	$363K	0.2%	+3,993	New	+$363K
193	193 CSX Corp CSX $60.6B	$363K	0.2%	+9,682	New	+$363K
194	194 Donaldson DCI $9.44B	$363K	0.2%	6,992 +2,224	+47%	+$115K
195	195 Vertiv VRT $47.4B	$363K	0.2%	+25,930	New	+$363K
196	196 Welltower WELL $112B	$363K	0.2%	+3,772	New	+$363K
197	IAA 197 DELISTED IAA, Inc. Common Stock IAA	$361K	0.2%	9,431 -3,951	-30%	-$151K
198	ATCO 198 DELISTED Atlas Corp. ATCO	$359K	0.2%	+24,445	New	+$359K
199	199 Automatic Data Processing ADP $120B	$358K	0.2%	+1,573	New	+$358K
200	200 Cognizant CTSH $35.1B	$357K	0.2%	+3,978	New	+$357K