Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VEA	Vanguard Ftse Developed Markets Etf	185,000	$13.18M	1.7%	$71.25	—	ETF	921943858
XLU	State Street Utilities Select Sector Spdr Etf	222,000	$10.07M	1.3%	$45.34	—	ETF	81369Y886
TSLA	Tesla Inc	13,000	$5.468M	0.7%	$420.60	—	COM	88160R101
NOC	Northrop Grumman Corp	10,000	$5.093M	0.7%	$509.31	—	COM	666807102
MCD	Mcdonald's Corp	18,000	$4.866M	0.6%	$270.31	—	COM	580135101
DUK	Duke Energy Corp	28,000	$3.544M	0.5%	$126.58	—	COM	26441C204
JNJ	Johnson & Johnson	13,000	$3.302M	0.4%	$253.97	—	COM	478160104
AZO	Autozone Inc	750	$2.397M	0.3%	$3195.94	—	COM	053332102
SYY	Sysco Corp	28,000	$2.34M	0.3%	$83.58	—	COM	871829107
HCA	Hca Healthcare Inc	6,000	$2.339M	0.3%	$389.89	—	COM	40412C101
LMT	Lockheed Martin Corp	4,000	$2.038M	0.3%	$509.46	—	COM	539830109
BABA	Alibaba Group Holding Ltd	20,000	$1.92M	0.2%	$95.98	—	ADR	01609W102
ICE	Intercontinental Exchange Inc	12,000	$1.477M	0.2%	$123.11	—	COM	45866F104
LHX	L3harris Technologies Inc	5,000	$1.453M	0.2%	$290.59	—	COM	502431109
DASH	Doordash Inc	7,000	$1.292M	0.2%	$184.53	—	COM	25809K105
DE	Deere & Co	2,000	$1.269M	0.2%	$634.33	—	COM	244199105
ZS	Zscaler Inc	8,000	$1.129M	0.1%	$141.15	—	COM	98980G102
VST	Vistra Corp	6,000	$952K	0.1%	$158.63	—	COM	92840M102
WM	Waste Management Inc	4,000	$892K	0.1%	$222.88	—	COM	94106L109
HON	Honeywell International Inc	3,500	$784K	0.1%	$223.90	—	COM	438516205
HONA	Honeywell Aerospace Inc	3,500	$774K	0.1%	$221.08	—	COM	43849R105

Increased Positions (38)

RSP Invesco S&p 500 Equal Weight Etf 10.1%

Value $78.51M (+212.3%) Shares 369,000 (+181.7%) Est. Cost $198.11 Unrealized —

NVDA Nvidia Corp 4.4%

Value $34.42M (+26.5%) Shares 172,000 (+10.3%) Est. Cost $184.59 Unrealized —

MA Mastercard Inc 1.7%

Value $13.35M (+84.3%) Shares 26,000 (+79.3%) Est. Cost $533.05 Unrealized —

META Meta Platforms Inc 3.1%

Value $23.66M (+16.5%) Shares 42,000 (+18.3%) Est. Cost $660.59 Unrealized —

MSFT Microsoft Corp 4.6%

Value $35.44M (+10.0%) Shares 95,000 (+9.2%) Est. Cost $460.30 Unrealized —

TMO Thermo Fisher Scientific Inc 1.1%

Value $8.523M (+57.6%) Shares 17,000 (+54.5%) Est. Cost $537.59 Unrealized —

APH Amphenol Corp 0.5%

Value $3.703M (+266.3%) Shares 21,000 (+162.5%) Est. Cost $164.92 Unrealized —

V Visa Inc 1.5%

Value $11.67M (+24.5%) Shares 34,000 (+9.7%) Est. Cost $342.98 Unrealized —

ISRG Intuitive Surgical Inc 0.5%

Value $3.977M (+115.7%) Shares 10,000 (+150.0%) Est. Cost $447.00 Unrealized —

PG Procter & Gamble Co/the 0.9%

Value $7.332M (+41.0%) Shares 50,000 (+38.9%) Est. Cost $155.23 Unrealized —

DHR Danaher Corp 1.2%

Value $8.953M (+31.2%) Shares 47,000 (+30.6%) Est. Cost $217.04 Unrealized —

CARR Carrier Global Corp 0.4%

Value $3.227M (+149.2%) Shares 44,000 (+91.3%) Est. Cost $70.36 Unrealized —

SCHW Charles Schwab Corp/the 0.4%

Value $3.229M (+114.8%) Shares 35,000 (+118.8%) Est. Cost $95.86 Unrealized —

UBER Uber Technologies Inc 0.7%

Value $5.196M (+44.5%) Shares 72,000 (+44.0%) Est. Cost $80.17 Unrealized —

— Spotify Technology Sa 0.4%

Value $3.214M (+89.4%) Shares 7,000 (+100.0%) Est. Cost $472.02 Unrealized —

MRK Merck & Co Inc 0.6%

Value $4.497M (+49.6%) Shares 35,000 (+40.0%) Est. Cost $106.63 Unrealized —

RDDT Reddit Inc 0.4%

Value $3.472M (+71.9%) Shares 20,000 (+33.3%) Est. Cost $185.63 Unrealized —

OTIS Otis Worldwide Corp 0.3%

Value $2.291M (+147.7%) Shares 32,000 (+166.7%) Est. Cost $78.55 Unrealized —

COF Capital One Financial Corp 0.4%

Value $2.809M (+92.4%) Shares 14,000 (+75.0%) Est. Cost $213.55 Unrealized —

EW Edwards Lifesciences Corp 0.3%

Value $2.352M (+125.9%) Shares 26,000 (+100.0%) Est. Cost $86.20 Unrealized —

CBRE Cbre Group Inc 0.3%

Value $2.694M (+80.8%) Shares 20,000 (+81.8%) Est. Cost $149.38 Unrealized —

SYK Stryker Corp 0.5%

Value $4.093M (+38.4%) Shares 13,000 (+44.4%) Est. Cost $349.34 Unrealized —

ADP Automatic Data Processing Inc 0.5%

Value $4.031M (+36.8%) Shares 18,000 (+24.1%) Est. Cost $248.21 Unrealized —

MDT Medtronic Plc 0.4%

Value $3.442M (+37.0%) Shares 44,000 (+51.7%) Est. Cost $83.64 Unrealized —

ABT Abbott Laboratories 0.9%

Value $7.35M (+11.9%) Shares 81,000 (+26.6%) Est. Cost $114.41 Unrealized —

LOW Lowe's Cos Inc 0.3%

Value $2.646M (+40.0%) Shares 12,000 (+50.0%) Est. Cost $236.02 Unrealized —

ECL Ecolab Inc 0.4%

Value $3.343M (+25.7%) Shares 12,000 (+20.0%) Est. Cost $284.97 Unrealized —

AVB Avalonbay Communities Inc 0.2%

Value $1.321M (+61.7%) Shares 7,000 (+40.0%) Est. Cost $190.46 Unrealized —

PAYX Paychex Inc 0.4%

Value $2.95M (+18.6%) Shares 30,000 (+11.1%) Est. Cost $130.46 Unrealized —

CMG Chipotle Mexican Grill Inc 0.2%

Value $1.428M (+39.4%) Shares 42,000 (+31.3%) Est. Cost $40.71 Unrealized —

NFLX Netflix Inc 0.9%

Value $7.14M (-4.8%) Shares 100,000 (+28.2%) Est. Cost $100.51 Unrealized —

LEN Lennar Corp 0.3%

Value $2.081M (+19.8%) Shares 23,000 (+15.0%) Est. Cost $110.06 Unrealized —

NOW Servicenow Inc 0.2%

Value $1.588M (+26.6%) Shares 16,000 (+33.3%) Est. Cost $115.71 Unrealized —

BKNG Booking Holdings Inc 0.5%

Value $3.565M (+5.8%) Shares 20,000 (+2400.0%) Est. Cost $362.38 Unrealized —

COIN Coinbase Global Inc 0.3%

Value $2.339M (-4.3%) Shares 16,000 (+14.3%) Est. Cost $193.78 Unrealized —

ACN Accenture Plc 0.3%

Value $2.178M (+4.6%) Shares 17,500 (+66.7%) Est. Cost $235.23 Unrealized —

WDAY Workday Inc 0.4%

Value $3.183M (+2.1%) Shares 26,000 (+8.3%) Est. Cost $236.70 Unrealized —

INTU Intuit Inc 0.2%

Value $1.305M (+0.6%) Shares 5,000 (+66.7%) Est. Cost $402.94 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RSP	Invesco S&p 500 Equal Weight Etf	369,000 (+181.7%)	$78.51M (+212.3%)	10.1%	$198.11	—	ETF	46137V357
NVDA	Nvidia Corp	172,000 (+10.3%)	$34.42M (+26.5%)	4.4%	$184.59	—	COM	67066G104
MA	Mastercard Inc	26,000 (+79.3%)	$13.35M (+84.3%)	1.7%	$533.05	—	COM	57636Q104
META	Meta Platforms Inc	42,000 (+18.3%)	$23.66M (+16.5%)	3.1%	$660.59	—	COM	30303M102
MSFT	Microsoft Corp	95,000 (+9.2%)	$35.44M (+10.0%)	4.6%	$460.30	—	COM	594918104
TMO	Thermo Fisher Scientific Inc	17,000 (+54.5%)	$8.523M (+57.6%)	1.1%	$537.59	—	COM	883556102
APH	Amphenol Corp	21,000 (+162.5%)	$3.703M (+266.3%)	0.5%	$164.92	—	COM	032095101
V	Visa Inc	34,000 (+9.7%)	$11.67M (+24.5%)	1.5%	$342.98	—	COM	92826C839
ISRG	Intuitive Surgical Inc	10,000 (+150.0%)	$3.977M (+115.7%)	0.5%	$447.00	—	COM	46120E602
PG	Procter & Gamble Co/the	50,000 (+38.9%)	$7.332M (+41.0%)	0.9%	$155.23	—	COM	742718109
DHR	Danaher Corp	47,000 (+30.6%)	$8.953M (+31.2%)	1.2%	$217.04	—	COM	235851102
CARR	Carrier Global Corp	44,000 (+91.3%)	$3.227M (+149.2%)	0.4%	$70.36	—	COM	14448C104
SCHW	Charles Schwab Corp/the	35,000 (+118.8%)	$3.229M (+114.8%)	0.4%	$95.86	—	COM	808513105
UBER	Uber Technologies Inc	72,000 (+44.0%)	$5.196M (+44.5%)	0.7%	$80.17	—	COM	90353T100
—	Spotify Technology Sa	7,000 (+100.0%)	$3.214M (+89.4%)	0.4%	$472.02	—	COM	177876291
MRK	Merck & Co Inc	35,000 (+40.0%)	$4.497M (+49.6%)	0.6%	$106.63	—	COM	58933Y105
RDDT	Reddit Inc	20,000 (+33.3%)	$3.472M (+71.9%)	0.4%	$185.63	—	COM	75734B100
OTIS	Otis Worldwide Corp	32,000 (+166.7%)	$2.291M (+147.7%)	0.3%	$78.55	—	COM	68902V107
COF	Capital One Financial Corp	14,000 (+75.0%)	$2.809M (+92.4%)	0.4%	$213.55	—	COM	14040H105
EW	Edwards Lifesciences Corp	26,000 (+100.0%)	$2.352M (+125.9%)	0.3%	$86.20	—	COM	28176E108
CBRE	Cbre Group Inc	20,000 (+81.8%)	$2.694M (+80.8%)	0.3%	$149.38	—	COM	12504L109
SYK	Stryker Corp	13,000 (+44.4%)	$4.093M (+38.4%)	0.5%	$349.34	—	COM	863667101
ADP	Automatic Data Processing Inc	18,000 (+24.1%)	$4.031M (+36.8%)	0.5%	$248.21	—	COM	053015103
MDT	Medtronic Plc	44,000 (+51.7%)	$3.442M (+37.0%)	0.4%	$83.64	—	COM	G5960L103
ABT	Abbott Laboratories	81,000 (+26.6%)	$7.35M (+11.9%)	0.9%	$114.41	—	COM	002824100
LOW	Lowe's Cos Inc	12,000 (+50.0%)	$2.646M (+40.0%)	0.3%	$236.02	—	COM	548661107
ECL	Ecolab Inc	12,000 (+20.0%)	$3.343M (+25.7%)	0.4%	$284.97	—	COM	278865100
AVB	Avalonbay Communities Inc	7,000 (+40.0%)	$1.321M (+61.7%)	0.2%	$190.46	—	COM	053484101
PAYX	Paychex Inc	30,000 (+11.1%)	$2.95M (+18.6%)	0.4%	$130.46	—	COM	704326107
CMG	Chipotle Mexican Grill Inc	42,000 (+31.3%)	$1.428M (+39.4%)	0.2%	$40.71	—	COM	169656105
NFLX	Netflix Inc	100,000 (+28.2%)	$7.14M (-4.8%)	0.9%	$100.51	—	COM	64110L106
LEN	Lennar Corp	23,000 (+15.0%)	$2.081M (+19.8%)	0.3%	$110.06	—	COM	526057104
NOW	Servicenow Inc	16,000 (+33.3%)	$1.588M (+26.6%)	0.2%	$115.71	—	COM	81762P102
BKNG	Booking Holdings Inc	20,000 (+2400.0%)	$3.565M (+5.8%)	0.5%	$362.38	—	COM	09857L108
COIN	Coinbase Global Inc	16,000 (+14.3%)	$2.339M (-4.3%)	0.3%	$193.78	—	COM	19260Q107
ACN	Accenture Plc	17,500 (+66.7%)	$2.178M (+4.6%)	0.3%	$235.23	—	COM	G1151C101
WDAY	Workday Inc	26,000 (+8.3%)	$3.183M (+2.1%)	0.4%	$236.70	—	COM	98138H101
INTU	Intuit Inc	5,000 (+66.7%)	$1.305M (+0.6%)	0.2%	$402.94	—	COM	461202103

Exited Positions (15)

SPY State Street Spdr S&p 500 Etf Trust 12.3%

Value $95.6M Shares 147,000 Est. Cost $650.34 Unrealized —

QQQ Invesco Qqq Trust Series 1 3.2%

Value $24.82M Shares 43,000 Est. Cost $577.18 Unrealized —

ORCL Oracle Corp 1.3%

Value $10.08M Shares 68,500 Est. Cost $196.76 Unrealized —

JPM Jpmorgan Chase & Co 1.3%

Value $9.707M Shares 33,000 Est. Cost $311.42 Unrealized —

TGT Target Corp 0.8%

Value $5.818M Shares 48,000 Est. Cost $124.50 Unrealized —

ABBV Abbvie Inc 0.5%

Value $3.915M Shares 18,000 Est. Cost $182.67 Unrealized —

HUM Humana Inc 0.4%

Value $2.774M Shares 16,000 Est. Cost $387.06 Unrealized —

MRVL Marvell Technology Inc 0.3%

Value $1.981M Shares 20,000 Est. Cost $81.07 Unrealized —

QCOM Qualcomm Inc 0.2%

Value $1.932M Shares 15,000 Est. Cost $164.18 Unrealized —

DAL Delta Air Lines Inc 0.2%

Value $1.662M Shares 25,000 Est. Cost $69.85 Unrealized —

HON Honeywell International Inc 0.2%

Value $1.582M Shares 7,000 Est. Cost $176.92 Unrealized —

AAL American Airlines Group Inc 0.2%

Value $1.396M Shares 130,000 Est. Cost $14.57 Unrealized —

MCHP Microchip Technology Inc 0.2%

Value $1.228M Shares 19,000 Est. Cost $75.15 Unrealized —

WAT Waters Corp 0.1%

Value $1.048M Shares 3,518 Est. Cost $367.10 Unrealized —

MS Morgan Stanley 0.1%

Value $987K Shares 6,000 Est. Cost $179.67 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	State Street Spdr S&p 500 Etf Trust	147,000	$95.6M	12.3%	$650.34	—	—	78462F103
QQQ	Invesco Qqq Trust Series 1	43,000	$24.82M	3.2%	$577.18	—	—	46090E103
ORCL	Oracle Corp	68,500	$10.08M	1.3%	$196.76	—	—	68389X105
JPM	Jpmorgan Chase & Co	33,000	$9.707M	1.3%	$311.42	—	—	46625H100
TGT	Target Corp	48,000	$5.818M	0.8%	$124.50	—	—	87612E106
ABBV	Abbvie Inc	18,000	$3.915M	0.5%	$182.67	—	—	00287Y109
HUM	Humana Inc	16,000	$2.774M	0.4%	$387.06	—	—	444859102
MRVL	Marvell Technology Inc	20,000	$1.981M	0.3%	$81.07	—	—	573874104
QCOM	Qualcomm Inc	15,000	$1.932M	0.2%	$164.18	—	—	747525103
DAL	Delta Air Lines Inc	25,000	$1.662M	0.2%	$69.85	—	—	247361702
HON	Honeywell International Inc	7,000	$1.582M	0.2%	$176.92	—	—	438516106
AAL	American Airlines Group Inc	130,000	$1.396M	0.2%	$14.57	—	—	02376R102
MCHP	Microchip Technology Inc	19,000	$1.228M	0.2%	$75.15	—	—	595017104
WAT	Waters Corp	3,518	$1.048M	0.1%	$367.10	—	—	941848103
MS	Morgan Stanley	6,000	$987K	0.1%	$179.67	—	—	617446448

Decreased Positions (10)

GOOG Alphabet Inc 1.0%

Value $7.597M (-59.6%) Shares 21,500 (-67.2%) Est. Cost $323.67 Unrealized —

AAPL Apple Inc 0.4%

Value $2.894M (-70.0%) Shares 10,000 (-73.7%) Est. Cost $254.88 Unrealized —

AMZN Amazon.com Inc 4.1%

Value $31.46M (-15.1%) Shares 132,000 (-25.8%) Est. Cost $204.80 Unrealized —

LLY Eli Lilly & Co 0.3%

Value $2.399M (-69.3%) Shares 2,000 (-76.5%) Est. Cost $934.55 Unrealized —

IJR Ishares Core S&p Small-cap Etf 0.7%

Value $5.339M (-46.3%) Shares 36,000 (-55.0%) Est. Cost $111.41 Unrealized —

GOOGL Alphabet Inc 1.0%

Value $7.505M (-37.1%) Shares 21,000 (-49.4%) Est. Cost $217.67 Unrealized —

CMCSA Comcast Corp 0.5%

Value $3.885M (-39.4%) Shares 158,252 (-29.1%) Est. Cost $45.16 Unrealized —

UNP Union Pacific Corp 0.2%

Value $1.632M (-59.2%) Shares 6,000 (-63.6%) Est. Cost $226.78 Unrealized —

AVGO Broadcom Inc 1.7%

Value $12.84M (+7.8%) Shares 34,000 (-11.7%) Est. Cost $334.17 Unrealized —

ETN Eaton Corp Plc 0.2%

Value $1.704M (-20.6%) Shares 4,000 (-33.3%) Est. Cost $358.83 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	Alphabet Inc	21,500 (-67.2%)	$7.597M (-59.6%)	1.0%	$323.67	—	COM	02079K107
AAPL	Apple Inc	10,000 (-73.7%)	$2.894M (-70.0%)	0.4%	$254.88	—	COM	037833100
AMZN	Amazon.com Inc	132,000 (-25.8%)	$31.46M (-15.1%)	4.1%	$204.80	—	COM	023135106
LLY	Eli Lilly & Co	2,000 (-76.5%)	$2.399M (-69.3%)	0.3%	$934.55	—	COM	532457108
IJR	Ishares Core S&p Small-cap Etf	36,000 (-55.0%)	$5.339M (-46.3%)	0.7%	$111.41	—	ETF	464287804
GOOGL	Alphabet Inc	21,000 (-49.4%)	$7.505M (-37.1%)	1.0%	$217.67	—	COM	02079K305
CMCSA	Comcast Corp	158,252 (-29.1%)	$3.885M (-39.4%)	0.5%	$45.16	—	COM	20030N101
UNP	Union Pacific Corp	6,000 (-63.6%)	$1.632M (-59.2%)	0.2%	$226.78	—	COM	907818108
AVGO	Broadcom Inc	34,000 (-11.7%)	$12.84M (+7.8%)	1.7%	$334.17	—	COM	11135F101
ETN	Eaton Corp Plc	4,000 (-33.3%)	$1.704M (-20.6%)	0.2%	$358.83	—	COM	G29183103

Unchanged Positions (62)

UNH Unitedhealth Group Inc 1.6%

Value $12.47M Shares 30,000 Est. Cost $449.69 Unrealized —

VZ Verizon Communications Inc 1.6%

Value $12.28M Shares 290,000 Est. Cost $41.44 Unrealized —

PEP Pepsico Inc 2.0%

Value $15.3M Shares 113,000 Est. Cost $151.83 Unrealized —

PFE Pfizer Inc 1.4%

Value $10.74M Shares 446,000 Est. Cost $27.43 Unrealized —

NKE Nike Inc 0.7%

Value $5.46M Shares 133,000 Est. Cost $109.61 Unrealized —

BUD Anheuser-busch Inbev Sa/nv 1.1%

Value $8.652M Shares 105,000 Est. Cost $91.68 Unrealized —

BEN Franklin Resources Inc 0.6%

Value $4.658M Shares 140,000 Est. Cost $29.77 Unrealized —

BSX Boston Scientific Corp 0.4%

Value $2.817M Shares 66,000 Est. Cost $87.86 Unrealized —

ELV Elevance Health Inc 0.6%

Value $4.641M Shares 12,000 Est. Cost $432.84 Unrealized —

CRM Salesforce Inc 0.7%

Value $5.091M Shares 32,500 Est. Cost $280.48 Unrealized —

BRK/B Berkshire Hathaway Inc 2.7%

Value $21.02M Shares 42,000 Est. Cost $489.96 Unrealized —

BAC Bank Of America Corp 0.7%

Value $5.698M Shares 100,000 Est. Cost $53.17 Unrealized —

ADBE Adobe Inc 0.5%

Value $4.203M Shares 20,500 Est. Cost $484.55 Unrealized —

BA Boeing Co/the 1.0%

Value $7.576M Shares 35,000 Est. Cost $208.96 Unrealized —

SWK Stanley Black & Decker Inc 0.3%

Value $2.353M Shares 25,000 Est. Cost $80.09 Unrealized —

UPS United Parcel Service Inc 0.8%

Value $6.45M Shares 60,000 Est. Cost $139.85 Unrealized —

ZTS Zoetis Inc 0.1%

Value $790K Shares 11,000 Est. Cost $179.00 Unrealized —

BAX Baxter International Inc 0.3%

Value $2.196M Shares 103,000 Est. Cost $50.31 Unrealized —

CAG Conagra Brands Inc 0.3%

Value $2.342M Shares 174,000 Est. Cost $26.88 Unrealized —

VTRS Viatris Inc 0.3%

Value $2.43M Shares 152,991 Est. Cost $13.33 Unrealized —

FIS Fidelity National Information Services Inc 0.2%

Value $1.672M Shares 43,000 Est. Cost $100.22 Unrealized —

SLB Slb Ltd 0.4%

Value $3.254M Shares 70,000 Est. Cost $62.58 Unrealized —

CCL Carnival Corp 0.5%

Value $3.571M Shares 125,000 Est. Cost $36.82 Unrealized —

AMT American Tower Corp 0.7%

Value $5.071M Shares 31,000 Est. Cost $196.72 Unrealized —

EXR Extra Space Storage Inc 0.4%

Value $2.761M Shares 19,000 Est. Cost $140.72 Unrealized —

PNC Pnc Financial Services Group Inc/the 0.2%

Value $1.724M Shares 7,000 Est. Cost $178.60 Unrealized —

HD Home Depot Inc/the 0.5%

Value $3.879M Shares 11,000 Est. Cost $371.91 Unrealized —

AXP American Express Co 0.3%

Value $2.368M Shares 7,000 Est. Cost $356.17 Unrealized —

GEHC Ge Healthcare Technologies Inc 0.3%

Value $2.187M Shares 34,165 Est. Cost $71.08 Unrealized —

EL Estee Lauder Cos Inc/the 0.3%

Value $2.684M Shares 34,000 Est. Cost $162.79 Unrealized —

TLT Ishares 20 Year Treasury Bond Etf 9.7%

Value $75.44M Shares 873,000 Est. Cost $107.57 Unrealized —

USB Us Bancorp 0.2%

Value $1.691M Shares 28,000 Est. Cost $38.21 Unrealized —

PYPL Paypal Holdings Inc 0.5%

Value $4.059M Shares 94,000 Est. Cost $178.74 Unrealized —

WFC Wells Fargo & Co 0.7%

Value $5.206M Shares 63,000 Est. Cost $84.43 Unrealized —

GPN Global Payments Inc 0.3%

Value $2.612M Shares 36,000 Est. Cost $126.41 Unrealized —

PGR Progressive Corp/the 0.2%

Value $1.748M Shares 8,000 Est. Cost $231.70 Unrealized —

BDX Becton Dickinson & Co 0.5%

Value $3.935M Shares 26,000 Est. Cost $212.53 Unrealized —

SOLV Solventum Corp 0.1%

Value $964K Shares 12,500 Est. Cost $60.70 Unrealized —

KHC Kraft Heinz Co/the 0.4%

Value $3.094M Shares 131,000 Est. Cost $42.49 Unrealized —

WBD Warner Bros Discovery Inc 0.6%

Value $4.482M Shares 168,132 Est. Cost $18.55 Unrealized —

KMB Kimberly-clark Corp 0.1%

Value $1.098M Shares 10,000 Est. Cost $108.41 Unrealized —

VWAGY Volkswagen Ag 0.1%

Value $489K Shares 60,000 Est. Cost $27.52 Unrealized —

STZ Constellation Brands Inc 0.2%

Value $1.6M Shares 11,500 Est. Cost $184.65 Unrealized —

IQV Iqvia Holdings Inc 0.1%

Value $1.063M Shares 5,500 Est. Cost $210.16 Unrealized —

MMM 3m Co 0.1%

Value $1.133M Shares 7,000 Est. Cost $163.96 Unrealized —

EMR Emerson Electric Co 0.1%

Value $1.145M Shares 8,000 Est. Cost $148.47 Unrealized —

ZBH Zimmer Biomet Holdings Inc 0.2%

Value $1.722M Shares 20,000 Est. Cost $109.96 Unrealized —

CCI Crown Castle Inc 0.1%

Value $984K Shares 13,000 Est. Cost $88.70 Unrealized —

APD Air Products And Chemicals Inc 0.9%

Value $6.743M Shares 23,000 Est. Cost $282.94 Unrealized —

BX Blackstone Inc 0.3%

Value $2.706M Shares 23,000 Est. Cost $140.88 Unrealized —

AWK American Water Works Co Inc 0.2%

Value $1.579M Shares 12,000 Est. Cost $133.18 Unrealized —

UAA Under Armour Inc 0.1%

Value $639K Shares 100,000 Est. Cost $33.08 Unrealized —

LIN Linde Plc 0.1%

Value $1.038M Shares 2,000 Est. Cost $430.71 Unrealized —

KKR Kkr & Co Inc 0.6%

Value $4.589M Shares 50,000 Est. Cost $117.81 Unrealized —

BIDU Baidu Inc 0.2%

Value $1.257M Shares 11,000 Est. Cost $205.06 Unrealized —

AON Aon Plc 0.1%

Value $995K Shares 3,000 Est. Cost $336.05 Unrealized —

DG Dollar General Corp 0.1%

Value $806K Shares 7,000 Est. Cost $141.69 Unrealized —

BF/B Brown-forman Corp 0.4%

Value $3.011M Shares 113,000 Est. Cost $55.81 Unrealized —

DIS Walt Disney Co/the 0.9%

Value $6.93M Shares 72,000 Est. Cost $121.80 Unrealized —

VSNT Versant Media Group Inc 0.0%

Value $322K Shares 8,930 Est. Cost $32.14 Unrealized —

NOV Nov Inc 0.1%

Value $464K Shares 25,000 Est. Cost $14.51 Unrealized —

BLK Blackrock Inc 0.6%

Value $4.808M Shares 5,000 Est. Cost $1094.19 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNH	Unitedhealth Group Inc	30,000	$12.47M	1.6%	$449.69	—	COM	91324P102
VZ	Verizon Communications Inc	290,000	$12.28M	1.6%	$41.44	—	COM	92343V104
PEP	Pepsico Inc	113,000	$15.3M	2.0%	$151.83	—	COM	713448108
PFE	Pfizer Inc	446,000	$10.74M	1.4%	$27.43	—	COM	717081103
NKE	Nike Inc	133,000	$5.46M	0.7%	$109.61	—	COM	654106103
BUD	Anheuser-busch Inbev Sa/nv	105,000	$8.652M	1.1%	$91.68	—	ADR	03524A108
BEN	Franklin Resources Inc	140,000	$4.658M	0.6%	$29.77	—	COM	354613101
BSX	Boston Scientific Corp	66,000	$2.817M	0.4%	$87.86	—	COM	101137107
ELV	Elevance Health Inc	12,000	$4.641M	0.6%	$432.84	—	COM	036752103
CRM	Salesforce Inc	32,500	$5.091M	0.7%	$280.48	—	COM	79466L302
BRK/B	Berkshire Hathaway Inc	42,000	$21.02M	2.7%	$489.96	—	COM	084670702
BAC	Bank Of America Corp	100,000	$5.698M	0.7%	$53.17	—	COM	060505104
ADBE	Adobe Inc	20,500	$4.203M	0.5%	$484.55	—	COM	00724F101
BA	Boeing Co/the	35,000	$7.576M	1.0%	$208.96	—	COM	097023105
SWK	Stanley Black & Decker Inc	25,000	$2.353M	0.3%	$80.09	—	COM	854502101
UPS	United Parcel Service Inc	60,000	$6.45M	0.8%	$139.85	—	COM	911312106
ZTS	Zoetis Inc	11,000	$790K	0.1%	$179.00	—	COM	98978V103
BAX	Baxter International Inc	103,000	$2.196M	0.3%	$50.31	—	COM	071813109
CAG	Conagra Brands Inc	174,000	$2.342M	0.3%	$26.88	—	COM	205887102
VTRS	Viatris Inc	152,991	$2.43M	0.3%	$13.33	—	COM	92556V106
FIS	Fidelity National Information Services Inc	43,000	$1.672M	0.2%	$100.22	—	COM	31620M106
SLB	Slb Ltd	70,000	$3.254M	0.4%	$62.58	—	COM	806857108
CCL	Carnival Corp	125,000	$3.571M	0.5%	$36.82	—	COM	143658300
AMT	American Tower Corp	31,000	$5.071M	0.7%	$196.72	—	COM	03027X100
EXR	Extra Space Storage Inc	19,000	$2.761M	0.4%	$140.72	—	COM	30225T102
PNC	Pnc Financial Services Group Inc/the	7,000	$1.724M	0.2%	$178.60	—	COM	693475105
HD	Home Depot Inc/the	11,000	$3.879M	0.5%	$371.91	—	COM	437076102
AXP	American Express Co	7,000	$2.368M	0.3%	$356.17	—	COM	025816109
GEHC	Ge Healthcare Technologies Inc	34,165	$2.187M	0.3%	$71.08	—	COM	36266G107
EL	Estee Lauder Cos Inc/the	34,000	$2.684M	0.3%	$162.79	—	COM	518439104
TLT	Ishares 20 Year Treasury Bond Etf	873,000	$75.44M	9.7%	$107.57	—	ETF	464287432
USB	Us Bancorp	28,000	$1.691M	0.2%	$38.21	—	COM	902973304
PYPL	Paypal Holdings Inc	94,000	$4.059M	0.5%	$178.74	—	COM	70450Y103
WFC	Wells Fargo & Co	63,000	$5.206M	0.7%	$84.43	—	COM	949746101
GPN	Global Payments Inc	36,000	$2.612M	0.3%	$126.41	—	COM	37940X102
PGR	Progressive Corp/the	8,000	$1.748M	0.2%	$231.70	—	COM	743315103
BDX	Becton Dickinson & Co	26,000	$3.935M	0.5%	$212.53	—	COM	075887109
SOLV	Solventum Corp	12,500	$964K	0.1%	$60.70	—	COM	83444M101
KHC	Kraft Heinz Co/the	131,000	$3.094M	0.4%	$42.49	—	COM	500754106
WBD	Warner Bros Discovery Inc	168,132	$4.482M	0.6%	$18.55	—	COM	934423104
KMB	Kimberly-clark Corp	10,000	$1.098M	0.1%	$108.41	—	COM	494368103
VWAGY	Volkswagen Ag	60,000	$489K	0.1%	$27.52	—	ADR	928662600
STZ	Constellation Brands Inc	11,500	$1.6M	0.2%	$184.65	—	COM	21036P108
IQV	Iqvia Holdings Inc	5,500	$1.063M	0.1%	$210.16	—	COM	46266C105
MMM	3m Co	7,000	$1.133M	0.1%	$163.96	—	COM	88579Y101
EMR	Emerson Electric Co	8,000	$1.145M	0.1%	$148.47	—	COM	291011104
ZBH	Zimmer Biomet Holdings Inc	20,000	$1.722M	0.2%	$109.96	—	COM	98956P102
CCI	Crown Castle Inc	13,000	$984K	0.1%	$88.70	—	COM	22822V101
APD	Air Products And Chemicals Inc	23,000	$6.743M	0.9%	$282.94	—	COM	009158106
BX	Blackstone Inc	23,000	$2.706M	0.3%	$140.88	—	COM	09260D107
AWK	American Water Works Co Inc	12,000	$1.579M	0.2%	$133.18	—	COM	030420103
UAA	Under Armour Inc	100,000	$639K	0.1%	$33.08	—	COM	904311107
LIN	Linde Plc	2,000	$1.038M	0.1%	$430.71	—	COM	G54950103
KKR	Kkr & Co Inc	50,000	$4.589M	0.6%	$117.81	—	COM	48251W104
BIDU	Baidu Inc	11,000	$1.257M	0.2%	$205.06	—	ADR	056752108
AON	Aon Plc	3,000	$995K	0.1%	$336.05	—	COM	G0403H108
DG	Dollar General Corp	7,000	$806K	0.1%	$141.69	—	COM	256677105
BF/B	Brown-forman Corp	113,000	$3.011M	0.4%	$55.81	—	COM	115637209
DIS	Walt Disney Co/the	72,000	$6.93M	0.9%	$121.80	—	COM	254687106
VSNT	Versant Media Group Inc	8,930	$322K	0.0%	$32.14	—	COM	925283103
NOV	Nov Inc	25,000	$464K	0.1%	$14.51	—	COM	62955J103
BLK	Blackrock Inc	5,000	$4.808M	0.6%	$1094.19	—	COM	09290D101