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    <nameOfIssuer>ABBOTT LABORATORIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>5999727</value>
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    <nameOfIssuer>ABBVIE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287Y109</cusip>
    <value>13073759</value>
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    <nameOfIssuer>ADOBE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00724F101</cusip>
    <value>4587649</value>
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      <sshPrnamt>18873</sshPrnamt>
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      <Sole>18873</Sole>
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      <None>0</None>
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    <nameOfIssuer>ADV MICRO DEV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007903107</cusip>
    <value>12379529</value>
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    <nameOfIssuer>AECOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00766T100</cusip>
    <value>381690</value>
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      <Sole>4500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AFFIRM HOLDINGS</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>00827B106</cusip>
    <value>309743</value>
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      <Sole>6760</Sole>
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    <nameOfIssuer>AFLAC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>001055102</cusip>
    <value>1968197</value>
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      <sshPrnamt>17940</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AGILENT TECH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00846U101</cusip>
    <value>1142080</value>
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      <None>0</None>
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    <nameOfIssuer>AGREE REALTY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>008492100</cusip>
    <value>2129183</value>
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      <Sole>28246</Sole>
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      <None>0</None>
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    <nameOfIssuer>AIR PRODS &amp; CHEM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>009158106</cusip>
    <value>2124063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7312</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>AIRBNB</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>009066101</cusip>
    <value>1476718</value>
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      <Sole>11694</Sole>
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      <None>0</None>
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    <nameOfIssuer>AKAMAI TECH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00971T101</cusip>
    <value>15849300</value>
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      <sshPrnamt>138000</sshPrnamt>
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    <nameOfIssuer>ALBERTSONS COMPANIES</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>013091103</cusip>
    <value>34693679</value>
    <shrsOrPrnAmt>
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      <Sole>2036014</Sole>
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      <None>0</None>
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    <nameOfIssuer>ALLSTATE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>020002101</cusip>
    <value>1820860</value>
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      <sshPrnamt>8782</sshPrnamt>
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      <Sole>8782</Sole>
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      <None>0</None>
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    <nameOfIssuer>ALNYLAM PHARMACEUTIC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02043Q107</cusip>
    <value>1516708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4584</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>ALPHABET A</nameOfIssuer>
    <titleOfClass>CAP STK CL A</titleOfClass>
    <cusip>02079K305</cusip>
    <value>217690972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>757028</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>ALPHABET C</nameOfIssuer>
    <titleOfClass>CAP STK CL C</titleOfClass>
    <cusip>02079K107</cusip>
    <value>41865783</value>
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      <sshPrnamt>145945</sshPrnamt>
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      <Sole>145945</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMAZON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>177370438</value>
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      <sshPrnamt>851637</sshPrnamt>
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      <Sole>851637</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERICAN EXPRESS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>025816109</cusip>
    <value>5685717</value>
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      <sshPrnamt>18797</sshPrnamt>
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      <Sole>18797</Sole>
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    <nameOfIssuer>AMERICAN INTL GR</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>026874784</cusip>
    <value>1475954</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19614</sshPrnamt>
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    <votingAuthority>
      <Sole>19614</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERICAN TOWER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03027X100</cusip>
    <value>3387745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19630</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19630</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERICAN WATER W</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>030420103</cusip>
    <value>837090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6151</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERIPRISE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03076C106</cusip>
    <value>1438078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3236</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3236</Sole>
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    <nameOfIssuer>AMETEK</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031100100</cusip>
    <value>1547679</value>
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      <sshPrnamt>7220</sshPrnamt>
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      <Sole>7220</Sole>
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    <nameOfIssuer>AMGEN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031162100</cusip>
    <value>6468762</value>
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      <sshPrnamt>18385</sshPrnamt>
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      <Sole>18385</Sole>
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    <nameOfIssuer>AMPHENOL</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>032095101</cusip>
    <value>3700160</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>29285</Sole>
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    <nameOfIssuer>ANNALY CAPITAL MANAG</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>035710839</cusip>
    <value>422471</value>
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      <sshPrnamt>19975</sshPrnamt>
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    <votingAuthority>
      <Sole>19975</Sole>
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      <None>0</None>
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    <nameOfIssuer>APOLLO GLOB MANAGEM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03769M106</cusip>
    <value>1684782</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15121</Sole>
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      <None>0</None>
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    <nameOfIssuer>APPLE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>215775303</value>
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      <sshPrnamt>850212</sshPrnamt>
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    <nameOfIssuer>APPLIED MATERIALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>038222105</cusip>
    <value>12116797</value>
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      <sshPrnamt>35451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>35451</Sole>
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    <nameOfIssuer>APPLOVIN</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>03831W108</cusip>
    <value>2225218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5591</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARCHER DANIELS M</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039483102</cusip>
    <value>1325866</value>
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      <sshPrnamt>18240</sshPrnamt>
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      <Sole>18240</Sole>
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    <nameOfIssuer>ARES MANAGEMENT CORP</nameOfIssuer>
    <titleOfClass>CL A COM STK</titleOfClass>
    <cusip>03990B101</cusip>
    <value>846289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7757</sshPrnamt>
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      <Sole>7757</Sole>
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    <nameOfIssuer>ARISTA NETWORKS</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>040413205</cusip>
    <value>4580553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37307</sshPrnamt>
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      <Sole>37307</Sole>
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    <nameOfIssuer>ARRAY TECHNOLOGIES</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>04271T100</cusip>
    <value>1684843</value>
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      <sshPrnamt>233035</sshPrnamt>
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      <Sole>233035</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARTHUR J GALLAGHER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>363576109</cusip>
    <value>1962865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9063</sshPrnamt>
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      <Sole>9063</Sole>
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    <nameOfIssuer>AST SPACEMOBILE</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>00217D100</cusip>
    <value>538655</value>
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    <nameOfIssuer>ASTERA LABS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>04626A103</cusip>
    <value>362228</value>
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      <sshPrnamt>3305</sshPrnamt>
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      <Sole>3305</Sole>
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    <nameOfIssuer>AT&amp;T</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00206R102</cusip>
    <value>49708225</value>
    <shrsOrPrnAmt>
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      <None>0</None>
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    <titleOfClass>CL A</titleOfClass>
    <cusip>049468101</cusip>
    <value>317977</value>
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      <sshPrnamt>4659</sshPrnamt>
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      <Sole>4659</Sole>
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      <None>0</None>
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    <nameOfIssuer>AUTODESK</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>052769106</cusip>
    <value>30647509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>128018</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AUTOMATIC DATA P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053015103</cusip>
    <value>3491039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17182</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AUTOZONE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053332102</cusip>
    <value>1547023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>458</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>458</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AVALONBAY COMM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053484101</cusip>
    <value>705672</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4320</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AVERY DENNISON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>053611109</cusip>
    <value>457602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2650</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AXON ENTERPRISE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05464C101</cusip>
    <value>1130525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2662</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BALL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>058498106</cusip>
    <value>401948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BANK OF AMERICA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>8866650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>181880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BECTON DICKINSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>075887109</cusip>
    <value>1604689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10206</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10206</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BEST BUY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>086516101</cusip>
    <value>606176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9442</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9442</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BIOGEN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062X103</cusip>
    <value>883467</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4819</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4819</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BLACKROCK</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09290D101</cusip>
    <value>34862949</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36251</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BLACKSTONE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09260D107</cusip>
    <value>2101212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18273</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18273</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BLOCK USD</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>852234103</cusip>
    <value>819892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13624</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLOOM ENERGY CORP A</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>093712107</cusip>
    <value>1030266</value>
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      <sshPrnamt>7604</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7604</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BNY MELLON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>064058100</cusip>
    <value>2878794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24267</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BOOKING HOLDINGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09857L108</cusip>
    <value>6138647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1458</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1458</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BOSTON SCIENT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>101137107</cusip>
    <value>37221104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>593165</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>593165</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BRISTOL MYERS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>4221968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>69612</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BROADCOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11135F101</cusip>
    <value>159051308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>513881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>513881</Sole>
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      <None>0</None>
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    <nameOfIssuer>BROADRIDGE FINANCIAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11133T103</cusip>
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      <sshPrnamt>5450</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5450</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BROWN &amp; BROWN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>115236101</cusip>
    <value>664751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10194</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BUILDERS FIRSTSOURCE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12008R107</cusip>
    <value>386951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BURLINGTON STORES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>122017106</cusip>
    <value>767897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2360</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>C.H. ROBINSON WORLDW</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>12541W209</cusip>
    <value>855261</value>
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      <sshPrnamt>5150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5150</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CADENCE DESIGN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>127387108</cusip>
    <value>3369452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12126</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12126</Sole>
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      <None>0</None>
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    <nameOfIssuer>CAPITAL ONE FIN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>4031338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22098</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22098</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CARDINAL HEALTH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>2180508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10319</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10319</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CARLISLE COMPANIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>142339100</cusip>
    <value>500430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14448C104</cusip>
    <value>1454713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25834</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25834</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>CARVANA</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>146869102</cusip>
    <value>1320396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAVA GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>148929102</cusip>
    <value>3324100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>41089</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CBOE GLOBAL MARKETS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12503M108</cusip>
    <value>53087658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>188877</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CBRE GROUP A</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>12504L109</cusip>
    <value>1679704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12400</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CDW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12514G108</cusip>
    <value>443296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3663</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CELANESE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>150870103</cusip>
    <value>4395935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66838</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66838</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CELSIUS HOLDINGS</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>15118V207</cusip>
    <value>1670576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47085</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENCORA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03073E105</cusip>
    <value>2506837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTENE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15135B101</cusip>
    <value>634960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19394</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CF INDUSTRIES HLD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125269100</cusip>
    <value>493392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>CHARLES SCHWAB</nameOfIssuer>
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      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DECKERS OUTDOOR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>243537107</cusip>
    <value>739665</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7390</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>10460481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18570</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DELL TECHNOLOGIES</nameOfIssuer>
    <titleOfClass>CL C</titleOfClass>
    <cusip>24703L202</cusip>
    <value>1772604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEXCOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>252131107</cusip>
    <value>5978058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>95192</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DICKS SPORTING GOODS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253393102</cusip>
    <value>516942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2607</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL REALTY TRUST</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253868103</cusip>
    <value>2102870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11669</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11669</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOLLAR GENERAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256677105</cusip>
    <value>859368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7238</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOLLAR TREE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256746108</cusip>
    <value>832276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOMINOS PIZZA (USD)</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25754A201</cusip>
    <value>347309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>968</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>968</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOORDASH</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>25809K105</cusip>
    <value>1566215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10431</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10431</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOVER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>260003108</cusip>
    <value>934690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4484</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>260557103</cusip>
    <value>939624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DR HORTON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23331A109</cusip>
    <value>1379061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DR REDDY'S LAB</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>256135203</cusip>
    <value>554000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DUPONT DE NEMOURS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26614N102</cusip>
    <value>673031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14695</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EBAY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>278642103</cusip>
    <value>1714817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18840</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18840</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ECHOSTAR CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>278768106</cusip>
    <value>458914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3920</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ECOLAB</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>278865100</cusip>
    <value>2893234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10876</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EDISON INTL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>281020107</cusip>
    <value>1057012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14444</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EDWARDS LIFESCIENSES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28176E108</cusip>
    <value>1785784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELECTRONIC ARTS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>285512109</cusip>
    <value>2105977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10330</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELEVANCE HEALTH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>036752103</cusip>
    <value>2428947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8297</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELI LILLY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>25290916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27497</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27497</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EMCOR GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29084Q100</cusip>
    <value>974569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EMERSON ELEC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>291011104</cusip>
    <value>2372772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18110</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTEGRIS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29362U104</cusip>
    <value>578110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4931</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTERGY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29364G103</cusip>
    <value>1605287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14287</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUIFAX</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>294429105</cusip>
    <value>693810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3853</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3853</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUINIX</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29444U700</cusip>
    <value>4176803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4261</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4261</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUITABLE HOLDINGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29452E101</cusip>
    <value>285747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EQUITY RESIDENT</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>29476L107</cusip>
    <value>547847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9262</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERIE INDEMNITY</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>29530P102</cusip>
    <value>201048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ESSEX PROPERTY TRUST</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>297178105</cusip>
    <value>373406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1543</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1543</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ESTEE LAUDER</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>518439104</cusip>
    <value>641193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8934</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8934</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXELON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30161N101</cusip>
    <value>2094330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42724</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42724</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXPEDIA GROUP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>30212P303</cusip>
    <value>832358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3605</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXPEDITORS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302130109</cusip>
    <value>682777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4767</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXTRA SPACE STORAGE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30225T102</cusip>
    <value>657879</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5017</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5017</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315616102</cusip>
    <value>490414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1695</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FAIR ISAAC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303250104</cusip>
    <value>870045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>815</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FASTENAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>311900104</cusip>
    <value>1798789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38767</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FEDEX</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31428X106</cusip>
    <value>2619704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7355</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7355</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FERGUSON USD</nameOfIssuer>
    <titleOfClass>COMMON STOCK NEW</titleOfClass>
    <cusip>31488V107</cusip>
    <value>1660811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7120</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIDELITY INTL FINANC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>31620R303</cusip>
    <value>340568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7343</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIDELITY NAT INF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31620M106</cusip>
    <value>793952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16925</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIFTH THIRD BAN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316773100</cusip>
    <value>1399515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30123</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30123</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST CITIZENS BANCS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>31946M103</cusip>
    <value>24383731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12938</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12938</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST SOLAR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>336433107</cusip>
    <value>27059338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>137176</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FISERV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>337738108</cusip>
    <value>1047980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18781</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORD MOTOR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>345370860</cusip>
    <value>1229449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106538</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>106538</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTINET</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34959E109</cusip>
    <value>23295021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>285059</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTIVE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34959J108</cusip>
    <value>639977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11577</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FOX CORP A</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>35137L105</cusip>
    <value>384097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6577</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FOX CORP B</nameOfIssuer>
    <titleOfClass>CL B COM</titleOfClass>
    <cusip>35137L204</cusip>
    <value>272934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5140</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FREEPORT-MCMORAN</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>35671D857</cusip>
    <value>2771653</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47153</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FUTU HOLDINGS ADR</nameOfIssuer>
    <titleOfClass>SPON ADS CL A</titleOfClass>
    <cusip>36118L106</cusip>
    <value>464984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GARTNER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>366651107</cusip>
    <value>501938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3170</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE HEALTHCARE TECH</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>36266G107</cusip>
    <value>1069195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15021</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE VERNOVA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>36828A101</cusip>
    <value>7794997</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8930</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GEN DIGITAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>668771108</cusip>
    <value>347414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAC HOLDINGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>368736104</cusip>
    <value>19971516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>102245</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MILLS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>370334104</cusip>
    <value>677404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MOTORS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37045V100</cusip>
    <value>2761715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37070</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENUINE PARTS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>372460105</cusip>
    <value>467415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4420</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>53239619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>382002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>382002</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PAYMENTS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37940X102</cusip>
    <value>454612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6755</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBE LIFE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37959E102</cusip>
    <value>2457603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17659</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17659</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GODADDY A</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>380237107</cusip>
    <value>417484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38141G104</cusip>
    <value>8697623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10281</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRACO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384109104</cusip>
    <value>448645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRUPO CIBEST ADR</nameOfIssuer>
    <titleOfClass>SPON ADS</titleOfClass>
    <cusip>40090E106</cusip>
    <value>946530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H WORLD GROUP</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>44332N106</cusip>
    <value>663828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H2O AMERICA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>784305104</cusip>
    <value>3014402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51187</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51187</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HAGERTY A</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>405166109</cusip>
    <value>480558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>45637</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HARTFORD FIN SERV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>416515104</cusip>
    <value>1278059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9451</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HCA HEALTHCARE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40412C101</cusip>
    <value>2717817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5743</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5743</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HDFC BANK</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>40415F101</cusip>
    <value>5779624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>232300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEALTHPEAK PROP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42250P103</cusip>
    <value>368771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22445</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22445</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEICO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>422806109</cusip>
    <value>281878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1028</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1028</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEICO CORP A</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>422806208</cusip>
    <value>385873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1828</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HERSHEY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>427866108</cusip>
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      <Sole>2160</Sole>
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      <None>0</None>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>5173</Sole>
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      <Sole>58800</Sole>
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      <sshPrnamt>800</sshPrnamt>
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      <sshPrnamt>7537</sshPrnamt>
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      <Sole>7537</Sole>
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    <nameOfIssuer>INTL FLAVORS &amp; FRAGR</nameOfIssuer>
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    <nameOfIssuer>INTUIT</nameOfIssuer>
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    <nameOfIssuer>INVITATION HOMES</nameOfIssuer>
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      <sshPrnamt>7361</sshPrnamt>
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    <nameOfIssuer>IRON MOUNTAIN REIT</nameOfIssuer>
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    <cusip>46284V101</cusip>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12703</Sole>
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    <nameOfIssuer>JABIL</nameOfIssuer>
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      <sshPrnamt>3799</sshPrnamt>
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      <Sole>3799</Sole>
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    <nameOfIssuer>JACK HENRY &amp; ASSOC</nameOfIssuer>
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    <nameOfIssuer>JACOBS SOLUTIONS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46982L108</cusip>
    <value>610944</value>
    <shrsOrPrnAmt>
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      <Sole>4800</Sole>
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    <nameOfIssuer>JB HUNT TRANSPORT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>445658107</cusip>
    <value>483132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2280</sshPrnamt>
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    <votingAuthority>
      <Sole>2280</Sole>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>14002501</value>
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    <cusip>48553T106</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>500754106</cusip>
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    <nameOfIssuer>KSP LI</nameOfIssuer>
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    <nameOfIssuer>LAM RESEARCH</nameOfIssuer>
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    <nameOfIssuer>MARSH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>MARTIN MARIETTA MATE</nameOfIssuer>
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    <nameOfIssuer>MERCK USD</nameOfIssuer>
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    <nameOfIssuer>META PLATFORMS</nameOfIssuer>
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    <nameOfIssuer>METLIFE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59156R108</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>592688105</cusip>
    <value>1122468</value>
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      <Sole>890</Sole>
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      <None>0</None>
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    <nameOfIssuer>MICROCHIP TECHNOLOGY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595017104</cusip>
    <value>27822100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430616</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>430616</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MICRON TECH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595112103</cusip>
    <value>12974407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38404</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38404</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MICROSOFT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>271819163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>734309</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>734309</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MID-AM APRTMNT COMM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59522J103</cusip>
    <value>487869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3995</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3995</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MONDELEZ INTL</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>609207105</cusip>
    <value>1402669</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24335</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MONGODB</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>60937P106</cusip>
    <value>670425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2739</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2739</Sole>
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      <None>0</None>
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    <nameOfIssuer>MONOLITHIC POWER SYS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>609839105</cusip>
    <value>1800747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1647</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1647</Sole>
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      <None>0</None>
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    <nameOfIssuer>MONSTER BEVERAGE COR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>61174X109</cusip>
    <value>1426158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19682</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19682</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MOODYS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>615369105</cusip>
    <value>2636695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6044</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>617446448</cusip>
    <value>6602055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40117</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40117</Sole>
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      <None>0</None>
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    <nameOfIssuer>MOTOROLA SOLUTIONS</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>620076307</cusip>
    <value>2445421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5635</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5635</Sole>
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      <None>0</None>
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    <nameOfIssuer>MSCI INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55354G100</cusip>
    <value>1866592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3463</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3463</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NASDAQ OMX GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>631103108</cusip>
    <value>1262484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14872</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14872</Sole>
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      <None>0</None>
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    <nameOfIssuer>NATERA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>632307104</cusip>
    <value>5478726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27395</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>27395</Sole>
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      <None>0</None>
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    <nameOfIssuer>NETAPP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110D104</cusip>
    <value>786662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7683</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7683</Sole>
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      <None>0</None>
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    <nameOfIssuer>NETFLIX</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110L106</cusip>
    <value>12224607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>127141</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NEUROCRINE BIOSCIENC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64125C109</cusip>
    <value>462671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3512</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3512</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NEWMONT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>651639106</cusip>
    <value>3885959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35898</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35898</Sole>
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      <None>0</None>
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    <nameOfIssuer>NEWS CORP USD</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>65249B109</cusip>
    <value>306639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
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      <None>0</None>
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    <nameOfIssuer>NEXTRACKER</nameOfIssuer>
    <titleOfClass>CLASS A COM</titleOfClass>
    <cusip>65290E101</cusip>
    <value>4773539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39598</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>39598</Sole>
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      <None>0</None>
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    <nameOfIssuer>NIKE</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>654106103</cusip>
    <value>1716439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32496</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32496</Sole>
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      <None>0</None>
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    <nameOfIssuer>NORDSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>655663102</cusip>
    <value>335502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1261</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1261</Sole>
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      <None>0</None>
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    <nameOfIssuer>NORFOLK SOUTHERN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>655844108</cusip>
    <value>2191819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7637</Sole>
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      <None>0</None>
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    <nameOfIssuer>NORTHERN TRUST</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>665859104</cusip>
    <value>809506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
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      <None>0</None>
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    <nameOfIssuer>NRG ENERGY</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629377508</cusip>
    <value>700303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4792</Sole>
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      <None>0</None>
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    <nameOfIssuer>NVIDIA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066G104</cusip>
    <value>308375650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1768209</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1768209</Sole>
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      <None>0</None>
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    <nameOfIssuer>NVR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>62944T105</cusip>
    <value>672163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>102</Sole>
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      <None>0</None>
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    <nameOfIssuer>OCULAR THERAPEUTIX</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67576A100</cusip>
    <value>2541000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>OKLO</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>02156V109</cusip>
    <value>99180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>OKTA</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>679295105</cusip>
    <value>460926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5856</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5856</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OLD DOMINION FREIGHT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>679580100</cusip>
    <value>1250560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OMNICOM GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>681919106</cusip>
    <value>736607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9781</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682189105</cusip>
    <value>875301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14136</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORACLE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>8635651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58702</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58702</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OREILLY AUTOMOTIVE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67103H107</cusip>
    <value>2998229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OTIS WORLDWIDE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68902V107</cusip>
    <value>992559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12877</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACCAR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>693718108</cusip>
    <value>2070800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACKAGING CORP OF AM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>695156109</cusip>
    <value>457334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2155</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PALANTIR TECH</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>69608A108</cusip>
    <value>8041743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>54975</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PALO ALTO NETWORKS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>697435105</cusip>
    <value>38190789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238216</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>238216</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYCHEX</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704326107</cusip>
    <value>994896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYPAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450Y103</cusip>
    <value>1355995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEPSICO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>713448108</cusip>
    <value>5637338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36302</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36302</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PFIZER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>5591205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>199117</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PINNACLE FINANCIAL P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>72348N109</cusip>
    <value>301490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PINTEREST</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>72352L106</cusip>
    <value>349689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19067</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19067</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PLANET FITNESS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>72703H101</cusip>
    <value>2128012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28610</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PNC FINANCIAL SERV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>693475105</cusip>
    <value>2821700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRICESMART</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>741511109</cusip>
    <value>19864495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>131990</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRINCIPAL FIN GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74251V102</cusip>
    <value>581210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROCTER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>12669988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>87718</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROGRESSIVE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>743315103</cusip>
    <value>38378273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>193595</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>193595</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROLOGIS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74340W103</cusip>
    <value>40842298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>308990</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRUDENTIAL FINL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>744320102</cusip>
    <value>1208718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12373</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12373</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PTC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69370C100</cusip>
    <value>502990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3530</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3530</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74460D109</cusip>
    <value>1474400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5443</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PULTEGROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>745867101</cusip>
    <value>917358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PURE STORAGE</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>74624M102</cusip>
    <value>650326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11015</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QNITY ELECTRONICS</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>74743L100</cusip>
    <value>541940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4697</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALCOMM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>4740907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36814</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36814</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALYS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74758T303</cusip>
    <value>1026088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUANTA SERVICES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74762E102</cusip>
    <value>2783531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5070</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUEST DIAGNOSTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74834L100</cusip>
    <value>774121</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RADNET</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750491102</cusip>
    <value>2034564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36403</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAYMOND JAMES FINANC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>754730109</cusip>
    <value>871201</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6017</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6017</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REALTY INCOME</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>756109104</cusip>
    <value>1916831</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31331</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REDDIT A</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>75734B100</cusip>
    <value>434112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3224</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3224</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REGENCY CENTERS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>758849103</cusip>
    <value>535521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7078</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REGENERON PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75886F107</cusip>
    <value>2194298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2840</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2840</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REGIONS FIN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>7591EP100</cusip>
    <value>698788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26753</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RELIANCE STEEL &amp; ALU</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759509102</cusip>
    <value>536723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1766</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REPLIGEN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759916109</cusip>
    <value>3369652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REPUBLIC SERV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>760759100</cusip>
    <value>1517590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RESMED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>761152107</cusip>
    <value>1126441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5018</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REVOLUTION MEDICINES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76155X100</cusip>
    <value>389000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RHYTHM PHARMA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76243J105</cusip>
    <value>383451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4409</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RIVIAN AUTOMOTIVE</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>76954A103</cusip>
    <value>493640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROBINHOOD MARKETS</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>770700102</cusip>
    <value>1263131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18227</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROBLOX CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>771049103</cusip>
    <value>1051903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18598</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18598</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROCKET COS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>77311W101</cusip>
    <value>324387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22764</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROCKET LAB</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>773121108</cusip>
    <value>1024309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <cusip>86366E106</cusip>
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    <cusip>88034P109</cusip>
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      <sshPrnamt>38000</sshPrnamt>
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    <votingAuthority>
      <Sole>38000</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>880770102</cusip>
    <value>1633495</value>
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      <sshPrnamt>5510</sshPrnamt>
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    <votingAuthority>
      <Sole>5510</Sole>
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      <None>0</None>
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    <cusip>880779103</cusip>
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      <sshPrnamt>70705</sshPrnamt>
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      <Sole>70705</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>880881107</cusip>
    <value>1167853</value>
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    <votingAuthority>
      <Sole>22152</Sole>
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      <None>0</None>
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    <nameOfIssuer>TERRENO REALTY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88146M101</cusip>
    <value>2099520</value>
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      <sshPrnamt>34183</sshPrnamt>
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      <Sole>34183</Sole>
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      <None>0</None>
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    <nameOfIssuer>TEVA PHARMA IND ADR</nameOfIssuer>
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    <cusip>881624209</cusip>
    <value>592762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19680</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19680</Sole>
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      <None>0</None>
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    <nameOfIssuer>TEXAS INSTRUMENT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>882508104</cusip>
    <value>6583482</value>
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      <sshPrnamt>33911</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>33911</Sole>
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    <nameOfIssuer>THERMO FISCHER SCIEN</nameOfIssuer>
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    <cusip>883556102</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>77071</sshPrnamt>
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    <votingAuthority>
      <Sole>77071</Sole>
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    <nameOfIssuer>TJX</nameOfIssuer>
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    <cusip>872540109</cusip>
    <value>6983681</value>
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      <sshPrnamt>43730</sshPrnamt>
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    <votingAuthority>
      <Sole>43730</Sole>
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    <nameOfIssuer>T-MOBILE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>872590104</cusip>
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      <sshPrnamt>21599</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21599</Sole>
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      <None>0</None>
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    <nameOfIssuer>TOAST</nameOfIssuer>
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    <cusip>888787108</cusip>
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      <sshPrnamt>17400</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17400</Sole>
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      <None>0</None>
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    <nameOfIssuer>TOPBUILD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89055F103</cusip>
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      <sshPrnamt>48898</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48898</Sole>
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      <None>0</None>
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    <nameOfIssuer>TRACTOR SUPPLY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>892356106</cusip>
    <value>1157415</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25550</Sole>
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      <None>0</None>
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    <nameOfIssuer>TRADE DESK</nameOfIssuer>
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    <cusip>88339J105</cusip>
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      <sshPrnamt>11739</sshPrnamt>
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    <votingAuthority>
      <Sole>11739</Sole>
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      <None>0</None>
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    <nameOfIssuer>TRADEWEB MARKETS</nameOfIssuer>
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    <cusip>892672106</cusip>
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      <sshPrnamt>4124</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4124</Sole>
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    <nameOfIssuer>TRANSUNION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89400J107</cusip>
    <value>477411</value>
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      <sshPrnamt>6900</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
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    <nameOfIssuer>TRAVELERS COMPANIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89417E109</cusip>
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      <sshPrnamt>7720</sshPrnamt>
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    <votingAuthority>
      <Sole>7720</Sole>
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    <nameOfIssuer>TRIMBLE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>8804</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8804</Sole>
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    <nameOfIssuer>TRUIST FINANCIAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89832Q109</cusip>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>30981</Sole>
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    <nameOfIssuer>TWILIO</nameOfIssuer>
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    <cusip>90138F102</cusip>
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      <sshPrnamt>4996</sshPrnamt>
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      <Sole>4996</Sole>
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    <nameOfIssuer>TYLER TECHNOLOGIES</nameOfIssuer>
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    <nameOfIssuer>UDR</nameOfIssuer>
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    <nameOfIssuer>ULTA BEAUTY</nameOfIssuer>
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      <Sole>2450</Sole>
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      <None>0</None>
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      <sshPrnamt>2833</sshPrnamt>
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      <Sole>2833</Sole>
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      <Sole>1521</Sole>
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      <Sole>54268</Sole>
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      <sshPrnamt>15700</sshPrnamt>
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    <votingAuthority>
      <Sole>15700</Sole>
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      <sshPrnamt>150224</sshPrnamt>
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      <Sole>150224</Sole>
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      <Sole>15664</Sole>
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      <Sole>8127</Sole>
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    <nameOfIssuer>VERISIGN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343E102</cusip>
    <value>741355</value>
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      <sshPrnamt>2985</sshPrnamt>
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      <Sole>2985</Sole>
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  <infoTable>
    <nameOfIssuer>VERISK ANALYTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92345Y106</cusip>
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    <votingAuthority>
      <Sole>4592</Sole>
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  <infoTable>
    <nameOfIssuer>VERIZON COMM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>180336</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>180336</Sole>
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