| Stantec Inc | 7.70 | 51,561 |
| Georg Fischer AG | 6.51 | 49,162 |
| Aris Water Solutions Inc | 6.45 | 137,951 |
| China Lesso Group Holdings Ltd | 5.12 | 6,515,000 |
| Core & Main Inc | 4.75 | 57,897 |
| Badger Meter Inc | 3.99 | 10,599 |
| Guangdong Investment Ltd | 3.97 | 3,770,000 |
| Ecolab Inc | 3.88 | 9,006 |
| Energy Recovery Inc | 3.84 | 145,022 |
| Ferguson Enterprises Inc | 3.75 | 9,996 |
| Geberit AG | 3.53 | 3,416 |
| A O Smith Corp | 3.49 | 27,042 |
| Franklin Electric Co Inc | 3.49 | 18,730 |
| American Water Works Co Inc | 3.47 | 14,429 |
| Advanced Drainage Systems Inc | 3.44 | 14,831 |
| Essential Utilities Inc | 3.44 | 49,011 |
| Fortune Brands Innovations Inc | 3.18 | 23,452 |
| Veolia Environnement SA | 3.01 | 60,566 |
| IDEX Corp | 2.89 | 7,195 |
| Lindsay Corp | 2.22 | 9,669 |
| Genuit Group PLC | 2.00 | 224,305 |
| Mueller Water Products Inc | 1.93 | 44,355 |
| Pennon Group PLC | 1.83 | 137,474 |
| Pentair PLC | 1.53 | 8,064 |
| Severn Trent PLC | 1.53 | 25,590 |
| Select Water Solutions Inc | 1.44 | 56,217 |
| UNITED UTILITIES GROUP PLC | 1.32 | 53,365 |
| Montrose Environmental Group Inc | 1.18 | 36,117 |
| Kitz Corp | 0.90 | 72,600 |
| Kurita Water Industries Ltd | 0.82 | 12,300 |
| Lixil Corp | 0.61 | 30,600 |
| First American Government Obligations Fund 12/01/2031 | 0.38 | 219,393 |
| Tetra Tech Inc | 0.37 | 5,098 |
| Watts Water Technologies Inc | 0.33 | 887 |
| Veralto Corp | 0.32 | 1,682 |
| METAWATER Co Ltd | 0.32 | 15,800 |
| Cash & Other | 0.28 | 159,648 |
| Xylem Inc/NY | 0.28 | 1,275 |
| Organo Corp | 0.23 | 2,300 |
| Zurn Elkay Water Solutions Corp | 0.17 | 2,414 |
| Rinnai Corp | 0.15 | 4,000 |
