MARWYNN HOLDINGS, INC. MWYN Industrials $44.5M 20 No moat Masco Corporation MAS Industrials $14.9B 64 Narrow moat Massimo Group MAMO Consumer Discretionary $38.6M 47 Shallow moat MASTECH DIGITAL, INC. MHH Consumer Discretionary $75.3M 49 Shallow moat MasterBrand, Inc. MBC Materials $860M 26 No moat Mastercard Incorporated MA Technology Not reported 89 Wide moat MasterCraft Boat Holdings, Inc. MCFT Consumer Discretionary $480M 33 No moat Matador Resources Company MTDR Materials $7.1B 61 Narrow moat Match Group, Inc. MTCH Technology $10.0B 78 Narrow moat MATERION CORPORATION MTRN Industrials $5.1B 34 No moat MATIV HOLDINGS, INC. MATV Materials $613M 25 No moat Matrix Service Company MTRX Industrials $277M 19 No moat Matson, Inc. MATX Industrials $7.1B 67 Narrow moat MATTEL INC /DE/ MAT Consumer Discretionary $5.2B 48 Shallow moat MATTHEWS INTERNATIONAL CORP MATW Industrials $596M 22 No moat MaxCyte, Inc. MXCT Consumer Discretionary $139M 37 No moat Maximus, Inc. MMS Technology $3.4B 60 Narrow moat Mayville Engineering Company, Inc. MEC Industrials $282M 30 No moat McCORMICK & COMPANY, INCORPORATED MKC Consumer Staples $12.5B 46 Shallow moat McDONALD’S CORPORATION MCD Consumer Discretionary $172.6B 70 Narrow moat McEWEN INC. MUX Materials $902M 35 No moat McGRATH RENTCORP MGRC Technology $2.8B 70 Narrow moat MCGRAW HILL, INC. MH Materials $2.7B 65 Narrow moat McKESSON CORPORATION MCK Industrials $120.8B 68 Narrow moat MDU RESOURCES GROUP INC MDU Utilities $3.9B 17 No moat MDwerks, Inc. MDWK Consumer Staples $15.2M 20 No moat MediaAlpha, Inc. MAX Technology $768M 45 Shallow moat MediaCo Holding Inc. MDIA Communications $85.7M 30 No moat Medifast, Inc. MED Consumer Staples $131M 62 Narrow moat Medinotec Inc. MDNC Healthcare Not reported 65 Narrow moat Medpace Holdings, Inc. MEDP Consumer Discretionary $17.5B 98 Wide moat Medtronic plc MDT Healthcare $121.3B 51 Shallow moat MEDWELLAI, INC. MWAI Other $2.1M 18 No moat MercadoLibre, Inc. MELI Technology $93.0B 78 Narrow moat MERCER INTERNATIONAL INC. MERC Materials $12.7M 28 No moat Merck & Co., Inc. MRK Healthcare $360.9B 89 Wide moat Meridian Holdings Inc./NV MRDN Technology $140M 44 Shallow moat MERIT MEDICAL SYSTEMS INC MMSI Healthcare $5.3B 58 Shallow moat MESA LABORATORIES INC /CO MLAB Industrials $677M 54 Shallow moat Meta Platforms, Inc. META Technology $1.83T 98 Wide moat METALLUS INC. MTUS Industrials Not reported 29 No moat METHODE ELECTRONICS INC MEI Technology Not reported 43 Shallow moat Mettler-Toledo International Inc. MTD Healthcare $33.0B 82 Wide moat MEXCO ENERGY CORPORATION MXC Materials $20.2M 38 No moat MGM Resorts International MGM Consumer Discretionary $7.4B 44 Shallow moat MGP INGREDIENTS INC MGPI Industrials $322M 33 No moat MGT CAPITAL INVESTMENTS, INC. MGTI Other $5.6M 24 No moat MIAMI BREEZE CAR CARE INC. MIBE Consumer Discretionary $37.4M 44 Shallow moat Miami International Holdings, Inc. MIAX Other $3.7B 38 No moat MicroAlgo Inc. MLGO Technology $113M 39 No moat Microalliance Group Inc. MALG Consumer Staples Not reported 77 Narrow moat MicroCloud Hologram Inc. HOLO Technology Not reported 46 Shallow moat Micron Technology, Inc. MU Technology $994.0B 76 Narrow moat MICROSOFT CORPORATION MSFT Technology $3.93T 97 Wide moat MIDDLESEX WATER COMPANY MSEX Utilities $1.0B 44 Shallow moat MILESTONE SCIENTIFIC INC. MLSS Healthcare $26.3M 38 No moat MILLER INDUSTRIES, INC. MLR Consumer Discretionary $585M 57 Shallow moat MillerKnoll, Inc. MLKN Materials $1.4B 32 No moat MiMedx Group, Inc. MDXG Healthcare $656M 84 Wide moat MIND TECHNOLOGY, INC MIND Healthcare $39.2M 56 Shallow moat MINERALRITE CORPORATION RITE Materials $7.5M 35 No moat MINERALS TECHNOLOGIES INC. MTX Materials $2.0B 58 Shallow moat MiniMed Group, Inc. MMED Healthcare $4.9B 49 Shallow moat Mirion Technologies, Inc. MIR Healthcare Not reported 50 Shallow moat MISSION PRODUCE, INC. AVO Agriculture $861M 32 No moat Mistras Group, Inc. MG Consumer Discretionary Not reported 34 No moat MITEK SYSTEMS, INC. MITK Technology $735M 49 Shallow moat MKS INC. MKSI Industrials $14.4B 44 Shallow moat MNTN, Inc. MNTN Technology $167M 78 Narrow moat MOBILE GLOBAL ESPORTS INC. MGAM Communications $2794 36 No moat Mobileye Global Inc. MBLY Technology Not reported 45 Shallow moat Moderna, Inc. MRNA Healthcare $85.9B 35 No moat MODINE MANUFACTURING CO MOD Consumer Discretionary $7.9B 59 Shallow moat MODULINK INC. MDLK Consumer Discretionary $2M 41 Shallow moat MOHAWK INDUSTRIES, INC. MHK Consumer Discretionary Not reported 40 No moat Molson Coors Beverage Company TAP Consumer Staples Not reported 32 No moat Momentus Inc. MNTS Consumer Discretionary Not reported 33 No moat MONARCH CASINO & RESORT, INC. MCRI Consumer Discretionary $2.0B 55 Shallow moat Mondelez International, Inc. MDLZ Consumer Staples $81.9B 40 Shallow moat MONGODB, INC. MDB Technology $27.1B 43 Shallow moat Monolithic Power Systems, Inc. MPWR Technology $58.0B 90 Wide moat MONRO, INC. MNRO Consumer Discretionary $410M 45 Shallow moat Monster Beverage Corp MNST Consumer Staples $44.7B 93 Wide moat MONTAUK RENEWABLES, INC. MNTK Utilities $307M 22 No moat Monte Rosa Therapeutics, Inc. GLUE Healthcare $638M 37 No moat MOODY'S CORPORATION MCO Technology $86.0B 93 Wide moat MORNINGSTAR, INC. MORN Other $8.2B 90 Wide moat MOSAIC CO MOS Materials $6.0B 28 No moat MOTORCAR PARTS OF AMERICA, INC. MPAA Consumer Discretionary $195M 52 Shallow moat Motorola Solutions, Inc. MSI Technology $76.7B 79 Narrow moat Motorsport Games Inc. MSGM Technology $27.2M 50 Shallow moat MOVADO GROUP, INC. MOV Healthcare $743M 56 Shallow moat MP Materials Corp. / DE MP Materials $7.1B 33 No moat MSA SAFETY INC MNESP Healthcare $1.5B 74 Narrow moat MSC INDUSTRIAL DIRECT CO., INC. MSM Industrials $7.3B 62 Narrow moat MSCI INC. MSCI Technology $41.9B 85 Wide moat MUELLER INDUSTRIES INC MLI Industrials $6.7B 76 Narrow moat Mueller Water Products, Inc. MWA Industrials $3.4B 71 Narrow moat MURPHY OIL CORPORATION MUR Materials $6.0B 50 Shallow moat MURPHY USA INC. MUSA Consumer Discretionary Not reported 74 Narrow moat