LINDBLAD EXPEDITIONS HOLDINGS, INC. LIND Industrials $1.5B 36 No moat Lindsay Corporation LNN Industrials — 69 Narrow moat Lineage Cell Therapeutics, Inc. LCTX Healthcare $282.0M 43 Shallow moat LiqTech International, Inc. LIQT Industrials $6.6M 20 No moat LIQUIDIA CORPORATION LQDA Healthcare $7.0B 37 No moat LIQUIDITY SERVICES, INC LQDT Technology $1.5B 61 Narrow moat LIQUIDMETAL TECHNOLOGIES INC LQMT Materials $192.6M 23 No moat Lite Strategy, Inc. LITS Healthcare $6.6M 42 Shallow moat Lithia Motors, Inc. LAD Consumer Discretionary $7.9B 48 Shallow moat LITTELFUSE INC /DE LFUS Industrials — 42 Shallow moat LivaNova PLC LIVN Healthcare $4.4B 47 Shallow moat Live Ventures Incorporated LIVE Consumer Discretionary $34.4M 47 Shallow moat LiveOne, Inc. LVO Consumer Discretionary $64.9M 12 No moat LIVEPERSON, INC. LPSN Technology $20.2M 44 Shallow moat LiveRamp Holdings, Inc. RAMP Technology $2.3B 67 Narrow moat LiveWire Group, Inc. LVWR Consumer Discretionary $141.9M 19 No moat LKQ CORPORATION LKQ Industrials $6.5B 80 Narrow moat Local Bounti Corporation/DE LOCL Agriculture $26.9M 14 No moat LOCKHEED MARTIN CORPORATION LMT Consumer Discretionary $116.5B 56 Shallow moat LogicMark, Inc. LGMK Healthcare $647832 47 Shallow moat LOGITECH INTERNATIONAL S.A. LOGI Technology — 73 Narrow moat Longeveron Inc. LGVN Healthcare $10.9B 41 Shallow moat LOUISIANA-PACIFIC CORPORATION LPX Materials $5.2B 60 Narrow moat LOWE’S COMPANIES, INC. LOW Consumer Discretionary $117.1B 76 Narrow moat LSB INDUSTRIES, INC. LXU Materials — 9 No moat LSEB CREATIVE CORP. LSEB Consumer Discretionary — 44 Shallow moat LSI INDUSTRIES INC LYTS Industrials $719.2M 44 Shallow moat Lucid Diagnostics Inc. LUCD Healthcare $124.6M 21 No moat Lucid Group, Inc. LCID Consumer Discretionary $2.4B 10 No moat LUCKY STRIKE ENTERTAINMENT CORPORATION LUCK Communications $1.1B 37 No moat Lulu's Fashion Lounge Holdings, Inc. LVLU Consumer Discretionary $37.3M 38 No moat lululemon athletica inc. LULU Consumer Discretionary $13.0B 98 Wide moat Lumen Technologies, Inc. LUMN Communications $6.4B 33 No moat Lumentum Holdings Inc. LITE Technology $51.2B 28 No moat Luvu Brands, Inc. LUVU Materials $3.1M 46 Shallow moat LUXFER HOLDINGS PLC LXFR Materials $439.8M 36 No moat Lyft, Inc. LYFT Technology — 38 No moat LYONDELLBASELL INDUSTRIES N.V. LYB Materials $19.1B 49 Shallow moat M/I HOMES, INC. MHO Industrials $3.9B 74 Narrow moat MACOM Technology Solutions Holdings, Inc. MTSI Technology $19.9B 44 Shallow moat MACROGENICS, INC. MGNX Healthcare $284.3M 40 Shallow moat Macy's, Inc. M Consumer Discretionary $6.2B 59 Shallow moat MAGNACHIP SEMICONDUCTOR Corp MX Technology $123.9M 35 No moat Magnera Corporation MAGN Materials $484.5M 13 No moat MAGNITE, INC. MGNI Technology $2.7B 55 Shallow moat Maison Solutions Inc. MSS Consumer Discretionary — 24 No moat MALIBU BOATS, INC. MBUU Consumer Discretionary $554.8M 59 Shallow moat Mama's Creations, Inc. MAMA Consumer Staples $699.3M 62 Narrow moat Mammoth Energy Services, Inc. TUSK Materials $135.4M 22 No moat MANGOCEUTICALS, INC. MGRX Healthcare $38598 43 Shallow moat MANHATTAN ASSOCIATES, INC. MANH Technology $9.8B 93 Wide moat MANITOWOC CO INC MTW Industrials $462.2M 30 No moat MANNATECH INC MTEX Healthcare $8.1M 74 Narrow moat ManpowerGroup Inc. MAN Technology $2.4B 46 Shallow moat MAPLEBEAR INC. CART Technology $11.1B 89 Wide moat MARATHON PETROLEUM CORPORATION MPC Energy — 37 No moat Maravai LifeSciences Holdings, Inc. MRVI Healthcare $1.0B 52 Shallow moat MARCHEX INC MCHX Technology — 46 Shallow moat MARIMED INC. MRMD Healthcare $26.2M 33 No moat MARINEMAX INC HZO Consumer Discretionary $754.9M 32 No moat Marqeta, Inc. MQ Technology $8.1B 31 No moat MARTIN MARIETTA MATERIALS INC MLM Materials $33.9B 43 Shallow moat Marvell Technology, Inc. MRVL Technology $159.9B 40 Shallow moat Massimo Group MAMO Consumer Discretionary $39.6M 56 Shallow moat MASTECH DIGITAL, INC. MHH Consumer Discretionary $87.5M 55 Shallow moat MasterBrand, Inc. MBC Materials $1.1B 32 No moat MASTERCRAFT BOAT HOLDINGS, INC. MCFT Consumer Discretionary $409.8M 63 Narrow moat Matador Resources Company MTDR Materials $6.7B 64 Narrow moat Match Group, Inc. MTCH Technology $9.1B 74 Narrow moat MATERION CORPORATION MTRN Industrials $5.1B 29 No moat Mativ Holdings, Inc. MATV Materials $438.5M 20 No moat MATRIX SERVICE CO MTRX Industrials $335.5M 16 No moat MATTEL INC /DE/ MAT Consumer Discretionary $4.3B 56 Shallow moat MATTHEWS INTERNATIONAL CORP MATW Industrials $845.7M 21 No moat MaxCyte, Inc. MXCT Consumer Discretionary $132.4M 42 Shallow moat Maximus, Inc. MMS Technology $3.2B 58 Shallow moat MaxLinear, Inc. MXL Technology $6.2B 42 Shallow moat Mayville Engineering Company, Inc. MEC Industrials $628.2M 22 No moat McCORMICK & COMPANY, INCORPORATED MKC Consumer Staples $13.9B 45 Shallow moat McEWEN INC. MUX Materials $908.8M 21 No moat McGRATH RENTCORP MGRC Technology $2.9B 66 Narrow moat MCGRAW HILL, INC. MH Materials $1.9B 63 Narrow moat McKESSON CORPORATION MCK Industrials $101.1B 60 Shallow moat MDwerks, Inc. MDWK Consumer Staples $14.3M 13 No moat MediaAlpha, Inc. MAX Technology $943.0M 39 No moat Medifast, Inc. MED Consumer Staples $112.8M 80 Wide moat Medinotec Inc. MDNC Healthcare — 71 Narrow moat Medtronic plc MDT Healthcare $106.5B 49 Shallow moat MercadoLibre, Inc. MELI Technology $92.0B 73 Narrow moat MERCURY SYSTEMS, INC. MRCY Technology $5.7B 24 No moat Meridian Holdings Inc./NV MRDN Technology $170.9M 41 Shallow moat MERIT MEDICAL SYSTEMS INC MMSI Healthcare $4.4B 45 Shallow moat MESA LABORATORIES, INC. MLAB Healthcare $541.1M 34 No moat Meta Platforms, Inc. META Technology $1.66T 99 Wide moat METALLUS INC. MTUS Industrials — 24 No moat METHODE ELECTRONICS, INC. MEI Technology — 48 Shallow moat MGP INGREDIENTS, INC. MGPI Industrials $380.3M 39 No moat Miami International Holdings, Inc. MIAX Other $3.6B 30 No moat Microchip Technology Incorporated MCHP Technology $43.9B 44 Shallow moat Micron Technology, Inc. MU Technology $952.5B 54 Shallow moat