FACTORY MUTUAL INSURANCE CO Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JIRE	J P MORGAN EXCHANGE TRADED F	1,671,130	$125,134	1.3%	$74.88	—	INTRNL RES EQT	46641Q134
UL	UNILEVER PLC	457,195	$29,901	0.3%	$65.40	—	SPON ADR NEW	904767803
BE	BLOOM ENERGY CORP	25,000	$2,172	0.0%	$105.07	0.0%	COM CL A	093712107
TTE	TOTALENERGIES SE	24,550	$1,606	0.0%	$63.23	0.0%	ACT	F92124100
TME	TENCENT MUSIC ENTMT GROUP	68,937	$1,208	0.0%	$17.53	—	SPON ADS	88034P109
BIDU	BAIDU INC	7,570	$989	0.0%	$130.66	—	SPON ADR REP A	056752108
MICC	MAGNUM ICE CREAM CO NV	14,101	$224	0.0%	$15.68	0.0%	ORD SHS	N5505D105

Increased Positions (35)

HYDB ISHARES TR 1.0%

Value ($000) $100,231 (+98.4%) Shares 2,116,815 (+100.5%) Est. Cost $47.60 Unrealized —

AGG ISHARES TR 4.1%

Value ($000) $409,108 (+8.7%) Shares 4,096,000 (+9.1%) Est. Cost $99.00 Unrealized —

VGK VANGUARD INTL EQUITY INDEX F 1.5%

Value ($000) $144,595 (+28.3%) Shares 1,729,400 (+22.4%) Est. Cost $72.67 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.4%

Value ($000) $40,042 (+238.7%) Shares 186,972 (+155.9%) Est. Cost $189.85 Unrealized +18.3%

ACN ACCENTURE PLC IRELAND 0.5%

Value ($000) $53,553 (+109.6%) Shares 199,600 (+92.7%) Est. Cost $276.61 Unrealized -8.2%

MU MICRON TECHNOLOGY INC 0.4%

Value ($000) $43,481 (+97.2%) Shares 152,345 (+15.6%) Est. Cost $124.18 Unrealized +84.7%

ANET ARISTA NETWORKS INC 0.4%

Value ($000) $43,033 (+93.0%) Shares 328,420 (+114.6%) Est. Cost $121.43 Unrealized +13.4%

ISRG INTUITIVE SURGICAL INC 0.3%

Value ($000) $25,203 (+268.3%) Shares 44,500 (+190.8%) Est. Cost $449.37 Unrealized +18.5%

XLU SELECT SECTOR SPDR TR 1.7%

Value ($000) $163,240 (-9.2%) Shares 3,823,850 (+85.4%) Est. Cost $53.94 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 1.0%

Value ($000) $96,629 (+20.0%) Shares 317,975 (+10.3%) Est. Cost $191.33 Unrealized —

NFLX NETFLIX INC 0.3%

Value ($000) $31,246 (-23.8%) Shares 333,250 (+874.4%) Est. Cost $99.51 Unrealized +8.3%

PFGC PERFORMANCE FOOD GROUP CO 0.2%

Value ($000) $17,984 (+92.1%) Shares 200,000 (+122.2%) Est. Cost $98.16 Unrealized -1.6%

INTU INTUIT 0.4%

Value ($000) $35,704 (+23.9%) Shares 53,900 (+27.7%) Est. Cost $637.77 Unrealized +3.6%

BTI BRITISH AMERN TOB PLC 0.1%

Value ($000) $9,829 (+188.7%) Shares 173,589 (+170.6%) Est. Cost $55.31 Unrealized —

AME AMETEK INC 0.4%

Value ($000) $44,162 (+16.4%) Shares 215,100 (+6.6%) Est. Cost $161.29 Unrealized +20.5%

UNH UNITEDHEALTH GROUP INC 0.8%

Value ($000) $79,457 (+8.3%) Shares 240,700 (+13.3%) Est. Cost $227.41 Unrealized +48.3%

DIS DISNEY WALT CO 0.2%

Value ($000) $20,917 (+39.9%) Shares 183,856 (+40.8%) Est. Cost $83.57 Unrealized +31.1%

PM PHILIP MORRIS INTL INC 0.7%

Value ($000) $67,112 (+8.7%) Shares 418,406 (+9.9%) Est. Cost $79.09 Unrealized +94.2%

CDNS CADENCE DESIGN SYSTEM INC 0.7%

Value ($000) $68,899 (-7.1%) Shares 220,421 (+4.4%) Est. Cost $273.54 Unrealized +19.3%

TXN TEXAS INSTRS INC 0.2%

Value ($000) $18,598 (+38.7%) Shares 107,200 (+46.8%) Est. Cost $94.94 Unrealized +79.8%

NOW SERVICENOW INC 0.7%

Value ($000) $71,976 (-6.0%) Shares 469,850 (+464.7%) Est. Cost $160.93 Unrealized +6.6%

HD HOME DEPOT INC 0.5%

Value ($000) $46,488 (-7.0%) Shares 135,100 (+9.5%) Est. Cost $207.48 Unrealized +75.7%

PLTR PALANTIR TECHNOLOGIES INC 0.5%

Value ($000) $49,122 (+7.5%) Shares 276,357 (+10.3%) Est. Cost $67.44 Unrealized +168.4%

NXPI NXP SEMICONDUCTORS N V 0.3%

Value ($000) $28,880 (+10.9%) Shares 133,050 (+16.3%) Est. Cost $231.55 Unrealized -7.7%

SHEL SHELL PLC 0.1%

Value ($000) $5,234 (+107.4%) Shares 71,233 (+101.9%) Est. Cost $72.51 Unrealized —

AJG GALLAGHER ARTHUR J & CO 0.2%

Value ($000) $16,692 (+8.9%) Shares 64,500 (+30.3%) Est. Cost $296.44 Unrealized -10.9%

UBS UBS GROUP AG 0.0%

Value ($000) $4,008 (+26.5%) Shares 86,545 (+12.0%) Est. Cost $39.00 Unrealized +3.6%

XLB SELECT SECTOR SPDR TR 0.6%

Value ($000) $59,753 (+1.2%) Shares 1,317,600 (+100.0%) Est. Cost $64.85 Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.1%

Value ($000) $7,834 (-8.1%) Shares 53,446 (+12.0%) Est. Cost $175.29 Unrealized —

BN BROOKFIELD CORP 0.3%

Value ($000) $25,132 (-2.0%) Shares 547,650 (+46.4%) Est. Cost $32.36 Unrealized +40.7%

SE SEA LTD 0.0%

Value ($000) $1,480 (-24.0%) Shares 11,601 (+6.5%) Est. Cost $175.59 Unrealized —

LIN LINDE PLC 0.4%

Value ($000) $41,658 (-1.0%) Shares 97,700 (+10.3%) Est. Cost $384.49 Unrealized +11.1%

TCOM TRIP COM GROUP LTD 0.0%

Value ($000) $1,114 (+44.3%) Shares 15,496 (+50.9%) Est. Cost $74.09 Unrealized —

XLY SELECT SECTOR SPDR TR 0.7%

Value ($000) $67,825 (-0.3%) Shares 568,000 (+100.0%) Est. Cost $148.93 Unrealized —

XLE SELECT SECTOR SPDR TR 0.3%

Value ($000) $24,734 (+0.1%) Shares 553,200 (+100.0%) Est. Cost $65.03 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYDB	ISHARES TR	2,116,815 (+100.5%)	$100,231 (+98.4%)	1.0%	$47.60	—	HIGH YLD SYSTM B	46435G250
AGG	ISHARES TR	4,096,000 (+9.1%)	$409,108 (+8.7%)	4.1%	$99.00	—	CORE US AGGBD ET	464287226
VGK	VANGUARD INTL EQUITY INDEX F	1,729,400 (+22.4%)	$144,595 (+28.3%)	1.5%	$72.67	—	FTSE EUROPE ETF	922042874
AMD	ADVANCED MICRO DEVICES INC	186,972 (+155.9%)	$40,042 (+238.7%)	0.4%	$189.85	+18.3%	COM	007903107
ACN	ACCENTURE PLC IRELAND	199,600 (+92.7%)	$53,553 (+109.6%)	0.5%	$276.61	-8.2%	SHS CLASS A	G1151C101
MU	MICRON TECHNOLOGY INC	152,345 (+15.6%)	$43,481 (+97.2%)	0.4%	$124.18	+84.7%	COM	595112103
ANET	ARISTA NETWORKS INC	328,420 (+114.6%)	$43,033 (+93.0%)	0.4%	$121.43	+13.4%	COM SHS	040413205
ISRG	INTUITIVE SURGICAL INC	44,500 (+190.8%)	$25,203 (+268.3%)	0.3%	$449.37	+18.5%	COM NEW	46120E602
XLU	SELECT SECTOR SPDR TR	3,823,850 (+85.4%)	$163,240 (-9.2%)	1.7%	$53.94	—	STATE STREET UTI	81369Y886
TSM	TAIWAN SEMICONDUCTOR MFG LTD	317,975 (+10.3%)	$96,629 (+20.0%)	1.0%	$191.33	—	SPONSORED ADS	874039100
NFLX	NETFLIX INC	333,250 (+874.4%)	$31,246 (-23.8%)	0.3%	$99.51	+8.3%	COM	64110L106
PFGC	PERFORMANCE FOOD GROUP CO	200,000 (+122.2%)	$17,984 (+92.1%)	0.2%	$98.16	-1.6%	COM	71377A103
INTU	INTUIT	53,900 (+27.7%)	$35,704 (+23.9%)	0.4%	$637.77	+3.6%	COM	461202103
BTI	BRITISH AMERN TOB PLC	173,589 (+170.6%)	$9,829 (+188.7%)	0.1%	$55.31	—	SPONSORED ADR	110448107
AME	AMETEK INC	215,100 (+6.6%)	$44,162 (+16.4%)	0.4%	$161.29	+20.5%	COM	031100100
UNH	UNITEDHEALTH GROUP INC	240,700 (+13.3%)	$79,457 (+8.3%)	0.8%	$227.41	+48.3%	COM	91324P102
DIS	DISNEY WALT CO	183,856 (+40.8%)	$20,917 (+39.9%)	0.2%	$83.57	+31.1%	COM	254687106
PM	PHILIP MORRIS INTL INC	418,406 (+9.9%)	$67,112 (+8.7%)	0.7%	$79.09	+94.2%	COM	718172109
CDNS	CADENCE DESIGN SYSTEM INC	220,421 (+4.4%)	$68,899 (-7.1%)	0.7%	$273.54	+19.3%	COM	127387108
TXN	TEXAS INSTRS INC	107,200 (+46.8%)	$18,598 (+38.7%)	0.2%	$94.94	+79.8%	COM	882508104
NOW	SERVICENOW INC	469,850 (+464.7%)	$71,976 (-6.0%)	0.7%	$160.93	+6.6%	COM	81762P102
HD	HOME DEPOT INC	135,100 (+9.5%)	$46,488 (-7.0%)	0.5%	$207.48	+75.7%	COM	437076102
PLTR	PALANTIR TECHNOLOGIES INC	276,357 (+10.3%)	$49,122 (+7.5%)	0.5%	$67.44	+168.4%	CL A	69608A108
NXPI	NXP SEMICONDUCTORS N V	133,050 (+16.3%)	$28,880 (+10.9%)	0.3%	$231.55	-7.7%	COM	N6596X109
SHEL	SHELL PLC	71,233 (+101.9%)	$5,234 (+107.4%)	0.1%	$72.51	—	SPON ADS	780259305
AJG	GALLAGHER ARTHUR J & CO	64,500 (+30.3%)	$16,692 (+8.9%)	0.2%	$296.44	-10.9%	COM	363576109
UBS	UBS GROUP AG	86,545 (+12.0%)	$4,008 (+26.5%)	0.0%	$39.00	+3.6%	SHS	H42097107
XLB	SELECT SECTOR SPDR TR	1,317,600 (+100.0%)	$59,753 (+1.2%)	0.6%	$64.85	—	STATE STREET MAT	81369Y100
BABA	ALIBABA GROUP HLDG LTD	53,446 (+12.0%)	$7,834 (-8.1%)	0.1%	$175.29	—	SPONSORED ADS	01609W102
BN	BROOKFIELD CORP	547,650 (+46.4%)	$25,132 (-2.0%)	0.3%	$32.36	+40.7%	CL A LTD VT SH	11271J107
SE	SEA LTD	11,601 (+6.5%)	$1,480 (-24.0%)	0.0%	$175.59	—	SPONSORD ADS	81141R100
LIN	LINDE PLC	97,700 (+10.3%)	$41,658 (-1.0%)	0.4%	$384.49	+11.1%	SHS	G54950103
TCOM	TRIP COM GROUP LTD	15,496 (+50.9%)	$1,114 (+44.3%)	0.0%	$74.09	—	ADS	89677Q107
XLY	SELECT SECTOR SPDR TR	568,000 (+100.0%)	$67,825 (-0.3%)	0.7%	$148.93	—	STATE STREET CON	81369Y407
XLE	SELECT SECTOR SPDR TR	553,200 (+100.0%)	$24,734 (+0.1%)	0.3%	$65.03	—	STATE STREET ENE	81369Y506

Exited Positions (6)

— UNILEVER PLC 0.4%

Value ($000) $41,520 Shares 700,409 Est. Cost $59.64 Unrealized —

CMCSA COMCAST CORP NEW 0.3%

Value ($000) $32,872 Shares 1,046,200 Est. Cost $25.08 Unrealized +13.8%

BJ BJS WHSL CLUB HLDGS INC 0.3%

Value ($000) $28,118 Shares 301,537 Est. Cost $67.38 Unrealized +36.2%

EXAS EXACT SCIENCES CORP 0.1%

Value ($000) $13,869 Shares 253,500 Est. Cost $74.63 Unrealized +7.6%

WBD WARNER BROS DISCOVERY INC 0.1%

Value ($000) $9,988 Shares 511,406 Est. Cost $16.08 Unrealized +45.3%

— TOTALENERGIES SE 0.0%

Value ($000) $1,465 Shares 24,550 Est. Cost $59.69 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNILEVER PLC	700,409	$41,520	0.4%	$59.64	—	—	904767704
CMCSA	COMCAST CORP NEW	1,046,200	$32,872	0.3%	$25.08	+13.8%	—	20030N101
BJ	BJS WHSL CLUB HLDGS INC	301,537	$28,118	0.3%	$67.38	+36.2%	—	05550J101
EXAS	EXACT SCIENCES CORP	253,500	$13,869	0.1%	$74.63	+7.6%	—	30063P105
WBD	WARNER BROS DISCOVERY INC	511,406	$9,988	0.1%	$16.08	+45.3%	—	934423104
—	TOTALENERGIES SE	24,550	$1,465	0.0%	$59.69	—	—	89151E109

Decreased Positions (90)

IXUS ISHARES TR 1.4%

Value ($000) $139,464 (-71.5%) Shares 1,647,735 (-72.2%) Est. Cost $68.46 Unrealized —

XLK SELECT SECTOR SPDR TR 1.5%

Value ($000) $147,142 (-55.7%) Shares 1,022,030 (-13.2%) Est. Cost $269.79 Unrealized —

GOOG ALPHABET INC 4.7%

Value ($000) $463,881 (+22.7%) Shares 1,478,271 (-4.8%) Est. Cost $107.13 Unrealized +167.3%

MSFT MICROSOFT CORP 4.9%

Value ($000) $487,885 (-10.4%) Shares 1,008,818 (-4.0%) Est. Cost $42.36 Unrealized +1081.8%

VOO VANGUARD INDEX FDS 0.7%

Value ($000) $70,795 (-35.1%) Shares 112,887 (-36.6%) Est. Cost $563.83 Unrealized —

FISV FISERV INC 0.0%

Value ($000) $591 (-97.9%) Shares 8,800 (-96.0%) Est. Cost $124.18 Unrealized -32.5%

META META PLATFORMS INC 2.0%

Value ($000) $192,377 (-11.9%) Shares 291,441 (-2.0%) Est. Cost $152.16 Unrealized +338.6%

VZ VERIZON COMMUNICATIONS INC 0.3%

Value ($000) $33,798 (-41.3%) Shares 829,816 (-36.7%) Est. Cost $29.65 Unrealized +36.5%

CTVA CORTEVA INC 0.3%

Value ($000) $25,197 (-44.5%) Shares 375,908 (-44.0%) Est. Cost $33.12 Unrealized +94.9%

AAPL APPLE INC 4.8%

Value ($000) $469,589 (+4.3%) Shares 1,727,321 (-2.3%) Est. Cost $84.64 Unrealized +217.0%

ASML ASML HOLDING N V 0.7%

Value ($000) $64,920 (-18.0%) Shares 60,681 (-25.8%) Est. Cost $923.59 Unrealized —

TMUS T-MOBILE US INC 0.1%

Value ($000) $10,578 (-56.4%) Shares 52,100 (-48.5%) Est. Cost $97.54 Unrealized +116.7%

AVGO BROADCOM INC 2.5%

Value ($000) $250,730 (-4.8%) Shares 724,445 (-9.3%) Est. Cost $145.26 Unrealized +145.8%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.2%

Value ($000) $116,162 (-9.2%) Shares 231,100 (-9.2%) Est. Cost $116.56 Unrealized +326.8%

JPM JPMORGAN CHASE & CO. 1.6%

Value ($000) $159,104 (-6.9%) Shares 493,775 (-8.9%) Est. Cost $55.71 Unrealized +455.6%

ABBV ABBVIE INC 0.4%

Value ($000) $42,305 (-21.7%) Shares 185,150 (-20.6%) Est. Cost $81.41 Unrealized +179.5%

CVS CVS HEALTH CORP 0.2%

Value ($000) $24,454 (-27.8%) Shares 308,143 (-31.4%) Est. Cost $54.68 Unrealized +43.9%

ALGN ALIGN TECHNOLOGY INC 0.2%

Value ($000) $22,898 (-23.9%) Shares 146,643 (-39.0%) Est. Cost $303.34 Unrealized -52.8%

AON AON PLC 0.1%

Value ($000) $11,539 (-36.5%) Shares 32,700 (-35.9%) Est. Cost $340.09 Unrealized +2.7%

SPG SIMON PPTY GROUP INC NEW 0.2%

Value ($000) $23,563 (-21.8%) Shares 127,292 (-20.7%) Est. Cost $93.59 Unrealized +92.3%

MRK MERCK & CO INC 0.3%

Value ($000) $29,196 (+23.8%) Shares 277,374 (-1.3%) Est. Cost $48.98 Unrealized +90.4%

PG PROCTER AND GAMBLE CO 0.6%

Value ($000) $55,524 (-9.1%) Shares 387,437 (-2.5%) Est. Cost $58.93 Unrealized +149.7%

DHR DANAHER CORPORATION 0.5%

Value ($000) $48,371 (+12.5%) Shares 211,300 (-2.5%) Est. Cost $228.47 Unrealized -3.9%

WFC WELLS FARGO CO NEW 0.7%

Value ($000) $64,249 (+8.6%) Shares 689,364 (-2.4%) Est. Cost $38.52 Unrealized +124.9%

AMT AMERICAN TOWER CORP NEW 0.4%

Value ($000) $38,959 (-11.0%) Shares 221,900 (-2.5%) Est. Cost $132.13 Unrealized +36.5%

UBER UBER TECHNOLOGIES INC 0.2%

Value ($000) $19,414 (-19.8%) Shares 237,600 (-3.9%) Est. Cost $69.50 Unrealized +29.6%

REGN REGENERON PHARMACEUTICALS 0.2%

Value ($000) $19,142 (+33.0%) Shares 24,800 (-3.1%) Est. Cost $639.65 Unrealized +6.1%

LVS LAS VEGAS SANDS CORP 0.3%

Value ($000) $27,745 (+17.3%) Shares 426,250 (-3.0%) Est. Cost $46.73 Unrealized +31.0%

MDLZ MONDELEZ INTL INC 0.2%

Value ($000) $22,714 (-14.9%) Shares 421,950 (-1.3%) Est. Cost $39.61 Unrealized +44.0%

DDOG DATADOG INC 0.2%

Value ($000) $20,438 (-15.8%) Shares 150,291 (-11.8%) Est. Cost $120.96 Unrealized +30.6%

LEN LENNAR CORP 0.1%

Value ($000) $14,058 (-20.0%) Shares 136,750 (-2.0%) Est. Cost $40.03 Unrealized +201.5%

APH AMPHENOL CORP NEW 0.5%

Value ($000) $51,898 (+6.5%) Shares 384,034 (-2.4%) Est. Cost $58.29 Unrealized +129.1%

XOM EXXON MOBIL CORP 0.8%

Value ($000) $79,786 (+4.0%) Shares 663,004 (-2.6%) Est. Cost $74.19 Unrealized +55.7%

UNP UNION PAC CORP 0.5%

Value ($000) $52,729 (-5.1%) Shares 227,950 (-3.1%) Est. Cost $127.57 Unrealized +78.2%

BLK BLACKROCK INC 0.2%

Value ($000) $21,300 (-11.7%) Shares 19,900 (-3.9%) Est. Cost $991.05 Unrealized +9.9%

COST COSTCO WHSL CORP NEW 0.2%

Value ($000) $24,232 (-10.3%) Shares 28,100 (-3.8%) Est. Cost $197.09 Unrealized +359.5%

CVX CHEVRON CORP NEW 0.5%

Value ($000) $53,704 (-4.8%) Shares 352,367 (-3.0%) Est. Cost $148.82 Unrealized +1.7%

VLTO VERALTO CORP 0.3%

Value ($000) $27,202 (-8.9%) Shares 272,616 (-2.7%) Est. Cost $85.27 Unrealized +18.5%

ABT ABBOTT LABS 0.2%

Value ($000) $23,912 (-10.0%) Shares 190,850 (-3.8%) Est. Cost $30.31 Unrealized +320.0%

NOC NORTHROP GRUMMAN CORP 0.3%

Value ($000) $25,659 (-9.0%) Shares 45,000 (-2.8%) Est. Cost $183.25 Unrealized +215.9%

CRBG COREBRIDGE FINL INC 0.2%

Value ($000) $23,649 (-9.5%) Shares 783,850 (-3.9%) Est. Cost $19.85 Unrealized +53.9%

NKE NIKE INC 0.2%

Value ($000) $20,903 (-10.6%) Shares 328,100 (-2.2%) Est. Cost $80.20 Unrealized -19.1%

PGR PROGRESSIVE CORP 0.2%

Value ($000) $19,072 (-11.3%) Shares 83,750 (-3.8%) Est. Cost $103.34 Unrealized +105.5%

CB CHUBB LIMITED 0.4%

Value ($000) $36,362 (+7.2%) Shares 116,500 (-3.1%) Est. Cost $241.21 Unrealized +21.2%

KLAC KLA CORP 0.7%

Value ($000) $71,267 (-3.2%) Shares 58,652 (-14.1%) Est. Cost $495.90 Unrealized +136.3%

JNJ JOHNSON & JOHNSON 0.8%

Value ($000) $78,281 (-2.7%) Shares 378,260 (-12.9%) Est. Cost $85.56 Unrealized +130.3%

ECL ECOLAB INC 0.3%

Value ($000) $25,569 (-7.9%) Shares 97,400 (-3.9%) Est. Cost $105.56 Unrealized +151.7%

CRM SALESFORCE INC 0.1%

Value ($000) $10,146 (-17.4%) Shares 38,300 (-26.1%) Est. Cost $250.91 Unrealized -1.1%

AMGN AMGEN INC 0.2%

Value ($000) $20,391 (+11.5%) Shares 62,300 (-3.9%) Est. Cost $246.47 Unrealized +28.2%

LHX L3HARRIS TECHNOLOGIES INC 0.3%

Value ($000) $33,041 (-5.8%) Shares 112,550 (-2.0%) Est. Cost $207.86 Unrealized +38.8%

APO APOLLO GLOBAL MGMT INC 0.3%

Value ($000) $28,576 (+7.5%) Shares 197,400 (-1.0%) Est. Cost $128.01 Unrealized +3.6%

WELL WELLTOWER INC 0.5%

Value ($000) $45,586 (-4.1%) Shares 245,600 (-7.9%) Est. Cost $103.86 Unrealized +79.5%

WMT WALMART INC 0.7%

Value ($000) $68,164 (-2.7%) Shares 611,826 (-10.0%) Est. Cost $44.68 Unrealized +139.9%

SYY SYSCO CORP 0.1%

Value ($000) $13,791 (-11.8%) Shares 187,150 (-1.5%) Est. Cost $71.18 Unrealized +6.1%

MRSH MARSH & MCLENNAN COS INC 0.1%

Value ($000) $14,164 (-11.5%) Shares 76,350 (-3.8%) Est. Cost $151.71 Unrealized +22.9%

TJX TJX COS INC NEW 0.4%

Value ($000) $38,687 (+4.9%) Shares 251,850 (-1.3%) Est. Cost $43.26 Unrealized +241.4%

TSLA TESLA INC 1.2%

Value ($000) $118,074 (-1.4%) Shares 262,550 (-2.5%) Est. Cost $278.36 Unrealized +59.2%

HON HONEYWELL INTL INC 0.2%

Value ($000) $15,695 (-9.5%) Shares 80,450 (-2.4%) Est. Cost $68.73 Unrealized +183.7%

GS GOLDMAN SACHS GROUP INC 0.2%

Value ($000) $24,173 (+6.1%) Shares 27,500 (-3.8%) Est. Cost $475.08 Unrealized +71.2%

BAC BANK AMERICA CORP 0.3%

Value ($000) $28,992 (+5.0%) Shares 527,130 (-1.5%) Est. Cost $15.33 Unrealized +243.6%

MCD MCDONALDS CORP 0.4%

Value ($000) $40,038 (-3.3%) Shares 131,000 (-3.8%) Est. Cost $104.84 Unrealized +191.0%

KO COCA COLA CO 0.5%

Value ($000) $49,493 (+2.7%) Shares 707,950 (-2.5%) Est. Cost $29.79 Unrealized +133.0%

MPWR MONOLITHIC PWR SYS INC 0.4%

Value ($000) $35,595 (-3.3%) Shares 39,272 (-1.8%) Est. Cost $682.53 Unrealized +40.8%

DAL DELTA AIR LINES INC DEL 0.1%

Value ($000) $7,870 (+17.5%) Shares 113,400 (-3.9%) Est. Cost $37.88 Unrealized +64.8%

GFI GOLD FIELDS LTD 0.0%

Value ($000) $4,003 (-21.8%) Shares 91,692 (-24.8%) Est. Cost $41.96 Unrealized —

LOW LOWES COS INC 0.2%

Value ($000) $16,206 (-6.0%) Shares 67,200 (-2.0%) Est. Cost $61.67 Unrealized +288.9%

DXCM DEXCOM INC 0.3%

Value ($000) $32,530 (-2.9%) Shares 490,130 (-1.6%) Est. Cost $85.17 Unrealized -24.1%

WH WYNDHAM HOTELS & RESORTS INC 0.1%

Value ($000) $11,459 (-7.3%) Shares 151,650 (-2.0%) Est. Cost $64.25 Unrealized +17.3%

MA MASTERCARD INCORPORATED 0.2%

Value ($000) $22,036 (-3.4%) Shares 38,600 (-3.7%) Est. Cost $96.98 Unrealized +476.3%

TMO THERMO FISHER SCIENTIFIC INC 0.5%

Value ($000) $48,723 (+1.5%) Shares 84,085 (-15.0%) Est. Cost $251.74 Unrealized +124.5%

OTIS OTIS WORLDWIDE CORP 0.1%

Value ($000) $11,251 (-5.9%) Shares 128,800 (-1.5%) Est. Cost $57.97 Unrealized +53.9%

EDU NEW ORIENTAL ED & TECHNOLOGY 0.0%

Value ($000) $1,801 (-28.1%) Shares 32,719 (-30.7%) Est. Cost $53.07 Unrealized —

SPGI S&P GLOBAL INC 0.2%

Value ($000) $22,158 (+3.2%) Shares 42,400 (-3.9%) Est. Cost $343.70 Unrealized +43.8%

PFE PFIZER INC 0.1%

Value ($000) $10,580 (-6.1%) Shares 424,900 (-4.0%) Est. Cost $40.23 Unrealized -37.8%

CNQ CANADIAN NAT RES LTD 0.3%

Value ($000) $25,313 (+2.5%) Shares 747,803 (-3.3%) Est. Cost $34.49 Unrealized -6.0%

ADBE ADOBE INC 0.2%

Value ($000) $16,922 (-3.4%) Shares 48,350 (-2.6%) Est. Cost $349.99 Unrealized -2.8%

MDT MEDTRONIC PLC 0.2%

Value ($000) $22,813 (-2.5%) Shares 237,490 (-3.4%) Est. Cost $77.31 Unrealized +25.6%

DE DEERE & CO 0.3%

Value ($000) $26,351 (-2.2%) Shares 56,600 (-3.9%) Est. Cost $193.35 Unrealized +141.9%

BA BOEING CO 0.2%

Value ($000) $14,873 (-3.1%) Shares 68,500 (-3.7%) Est. Cost $108.66 Unrealized +89.3%

AIG AMERICAN INTL GROUP INC 0.1%

Value ($000) $10,429 (+4.7%) Shares 121,900 (-3.9%) Est. Cost $53.46 Unrealized +49.0%

MET METLIFE INC 0.1%

Value ($000) $5,222 (-7.9%) Shares 66,150 (-3.9%) Est. Cost $59.26 Unrealized +33.2%

AEG AEGON LTD 0.0%

Value ($000) $1,306 (-25.2%) Shares 169,398 (-22.5%) Est. Cost $7.99 Unrealized —

PNC PNC FINL SVCS GROUP INC 0.2%

Value ($000) $21,927 (+2.0%) Shares 105,050 (-1.8%) Est. Cost $68.11 Unrealized +183.1%

EW EDWARDS LIFESCIENCES CORP 0.1%

Value ($000) $6,151 (+5.3%) Shares 72,150 (-3.9%) Est. Cost $83.11 Unrealized -1.3%

AXP AMERICAN EXPRESS CO 0.4%

Value ($000) $35,737 (-0.8%) Shares 96,600 (-11.0%) Est. Cost $110.13 Unrealized +224.1%

PEP PEPSICO INC 0.1%

Value ($000) $10,707 (-1.0%) Shares 74,600 (-3.1%) Est. Cost $59.48 Unrealized +145.3%

GE GE AEROSPACE 0.5%

Value ($000) $45,440 (-0.2%) Shares 147,517 (-2.5%) Est. Cost $62.95 Unrealized +377.8%

QCOM QUALCOMM INC 0.1%

Value ($000) $5,764 (+1.6%) Shares 33,700 (-1.2%) Est. Cost $43.57 Unrealized +292.0%

KIE SPDR SERIES TRUST 0.4%

Value ($000) $36,400 (-0.2%) Shares 605,150 (-1.6%) Est. Cost $33.58 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.1%

Value ($000) $8,205 (+1.0%) Shares 27,700 (-3.8%) Est. Cost $141.50 Unrealized +111.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IXUS	ISHARES TR	1,647,735 (-72.2%)	$139,464 (-71.5%)	1.4%	$68.46	—	CORE MSCI TOTAL	46432F834
XLK	SELECT SECTOR SPDR TR	1,022,030 (-13.2%)	$147,142 (-55.7%)	1.5%	$269.79	—	STATE STREET TEC	81369Y803
GOOG	ALPHABET INC	1,478,271 (-4.8%)	$463,881 (+22.7%)	4.7%	$107.13	+167.3%	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	1,008,818 (-4.0%)	$487,885 (-10.4%)	4.9%	$42.36	+1081.8%	COM	594918104
VOO	VANGUARD INDEX FDS	112,887 (-36.6%)	$70,795 (-35.1%)	0.7%	$563.83	—	S&P 500 ETF SHS	922908363
FISV	FISERV INC	8,800 (-96.0%)	$591 (-97.9%)	0.0%	$124.18	-32.5%	COM	337738108
META	META PLATFORMS INC	291,441 (-2.0%)	$192,377 (-11.9%)	2.0%	$152.16	+338.6%	CL A	30303M102
VZ	VERIZON COMMUNICATIONS INC	829,816 (-36.7%)	$33,798 (-41.3%)	0.3%	$29.65	+36.5%	COM	92343V104
CTVA	CORTEVA INC	375,908 (-44.0%)	$25,197 (-44.5%)	0.3%	$33.12	+94.9%	COM	22052L104
AAPL	APPLE INC	1,727,321 (-2.3%)	$469,589 (+4.3%)	4.8%	$84.64	+217.0%	COM	037833100
ASML	ASML HOLDING N V	60,681 (-25.8%)	$64,920 (-18.0%)	0.7%	$923.59	—	N Y REGISTRY SHS	N07059210
TMUS	T-MOBILE US INC	52,100 (-48.5%)	$10,578 (-56.4%)	0.1%	$97.54	+116.7%	COM	872590104
AVGO	BROADCOM INC	724,445 (-9.3%)	$250,730 (-4.8%)	2.5%	$145.26	+145.8%	COM	11135F101
BRK/B	BERKSHIRE HATHAWAY INC DEL	231,100 (-9.2%)	$116,162 (-9.2%)	1.2%	$116.56	+326.8%	CL B NEW	084670702
JPM	JPMORGAN CHASE & CO.	493,775 (-8.9%)	$159,104 (-6.9%)	1.6%	$55.71	+455.6%	COM	46625H100
ABBV	ABBVIE INC	185,150 (-20.6%)	$42,305 (-21.7%)	0.4%	$81.41	+179.5%	COM	00287Y109
CVS	CVS HEALTH CORP	308,143 (-31.4%)	$24,454 (-27.8%)	0.2%	$54.68	+43.9%	COM	126650100
ALGN	ALIGN TECHNOLOGY INC	146,643 (-39.0%)	$22,898 (-23.9%)	0.2%	$303.34	-52.8%	COM	016255101
AON	AON PLC	32,700 (-35.9%)	$11,539 (-36.5%)	0.1%	$340.09	+2.7%	SHS CL A	G0403H108
SPG	SIMON PPTY GROUP INC NEW	127,292 (-20.7%)	$23,563 (-21.8%)	0.2%	$93.59	+92.3%	COM	828806109
MRK	MERCK & CO INC	277,374 (-1.3%)	$29,196 (+23.8%)	0.3%	$48.98	+90.4%	COM	58933Y105
PG	PROCTER AND GAMBLE CO	387,437 (-2.5%)	$55,524 (-9.1%)	0.6%	$58.93	+149.7%	COM	742718109
DHR	DANAHER CORPORATION	211,300 (-2.5%)	$48,371 (+12.5%)	0.5%	$228.47	-3.9%	COM	235851102
WFC	WELLS FARGO CO NEW	689,364 (-2.4%)	$64,249 (+8.6%)	0.7%	$38.52	+124.9%	COM	949746101
AMT	AMERICAN TOWER CORP NEW	221,900 (-2.5%)	$38,959 (-11.0%)	0.4%	$132.13	+36.5%	COM	03027X100
UBER	UBER TECHNOLOGIES INC	237,600 (-3.9%)	$19,414 (-19.8%)	0.2%	$69.50	+29.6%	COM	90353T100
REGN	REGENERON PHARMACEUTICALS	24,800 (-3.1%)	$19,142 (+33.0%)	0.2%	$639.65	+6.1%	COM	75886F107
LVS	LAS VEGAS SANDS CORP	426,250 (-3.0%)	$27,745 (+17.3%)	0.3%	$46.73	+31.0%	COM	517834107
MDLZ	MONDELEZ INTL INC	421,950 (-1.3%)	$22,714 (-14.9%)	0.2%	$39.61	+44.0%	CL A	609207105
DDOG	DATADOG INC	150,291 (-11.8%)	$20,438 (-15.8%)	0.2%	$120.96	+30.6%	CL A COM	23804L103
LEN	LENNAR CORP	136,750 (-2.0%)	$14,058 (-20.0%)	0.1%	$40.03	+201.5%	CL A	526057104
APH	AMPHENOL CORP NEW	384,034 (-2.4%)	$51,898 (+6.5%)	0.5%	$58.29	+129.1%	CL A	032095101
XOM	EXXON MOBIL CORP	663,004 (-2.6%)	$79,786 (+4.0%)	0.8%	$74.19	+55.7%	COM	30231G102
UNP	UNION PAC CORP	227,950 (-3.1%)	$52,729 (-5.1%)	0.5%	$127.57	+78.2%	COM	907818108
BLK	BLACKROCK INC	19,900 (-3.9%)	$21,300 (-11.7%)	0.2%	$991.05	+9.9%	COM	09290D101
COST	COSTCO WHSL CORP NEW	28,100 (-3.8%)	$24,232 (-10.3%)	0.2%	$197.09	+359.5%	COM	22160K105
CVX	CHEVRON CORP NEW	352,367 (-3.0%)	$53,704 (-4.8%)	0.5%	$148.82	+1.7%	COM	166764100
VLTO	VERALTO CORP	272,616 (-2.7%)	$27,202 (-8.9%)	0.3%	$85.27	+18.5%	COM SHS	92338C103
ABT	ABBOTT LABS	190,850 (-3.8%)	$23,912 (-10.0%)	0.2%	$30.31	+320.0%	COM	002824100
NOC	NORTHROP GRUMMAN CORP	45,000 (-2.8%)	$25,659 (-9.0%)	0.3%	$183.25	+215.9%	COM	666807102
CRBG	COREBRIDGE FINL INC	783,850 (-3.9%)	$23,649 (-9.5%)	0.2%	$19.85	+53.9%	COM	21871X109
NKE	NIKE INC	328,100 (-2.2%)	$20,903 (-10.6%)	0.2%	$80.20	-19.1%	CL B	654106103
PGR	PROGRESSIVE CORP	83,750 (-3.8%)	$19,072 (-11.3%)	0.2%	$103.34	+105.5%	COM	743315103
CB	CHUBB LIMITED	116,500 (-3.1%)	$36,362 (+7.2%)	0.4%	$241.21	+21.2%	COM	H1467J104
KLAC	KLA CORP	58,652 (-14.1%)	$71,267 (-3.2%)	0.7%	$495.90	+136.3%	COM NEW	482480100
JNJ	JOHNSON & JOHNSON	378,260 (-12.9%)	$78,281 (-2.7%)	0.8%	$85.56	+130.3%	COM	478160104
ECL	ECOLAB INC	97,400 (-3.9%)	$25,569 (-7.9%)	0.3%	$105.56	+151.7%	COM	278865100
CRM	SALESFORCE INC	38,300 (-26.1%)	$10,146 (-17.4%)	0.1%	$250.91	-1.1%	COM	79466L302
AMGN	AMGEN INC	62,300 (-3.9%)	$20,391 (+11.5%)	0.2%	$246.47	+28.2%	COM	031162100
LHX	L3HARRIS TECHNOLOGIES INC	112,550 (-2.0%)	$33,041 (-5.8%)	0.3%	$207.86	+38.8%	COM	502431109
APO	APOLLO GLOBAL MGMT INC	197,400 (-1.0%)	$28,576 (+7.5%)	0.3%	$128.01	+3.6%	COM	03769M106
WELL	WELLTOWER INC	245,600 (-7.9%)	$45,586 (-4.1%)	0.5%	$103.86	+79.5%	COM	95040Q104
WMT	WALMART INC	611,826 (-10.0%)	$68,164 (-2.7%)	0.7%	$44.68	+139.9%	COM	931142103
SYY	SYSCO CORP	187,150 (-1.5%)	$13,791 (-11.8%)	0.1%	$71.18	+6.1%	COM	871829107
MRSH	MARSH & MCLENNAN COS INC	76,350 (-3.8%)	$14,164 (-11.5%)	0.1%	$151.71	+22.9%	COM	571748102
TJX	TJX COS INC NEW	251,850 (-1.3%)	$38,687 (+4.9%)	0.4%	$43.26	+241.4%	COM	872540109
TSLA	TESLA INC	262,550 (-2.5%)	$118,074 (-1.4%)	1.2%	$278.36	+59.2%	COM	88160R101
HON	HONEYWELL INTL INC	80,450 (-2.4%)	$15,695 (-9.5%)	0.2%	$68.73	+183.7%	COM	438516106
GS	GOLDMAN SACHS GROUP INC	27,500 (-3.8%)	$24,173 (+6.1%)	0.2%	$475.08	+71.2%	COM	38141G104
BAC	BANK AMERICA CORP	527,130 (-1.5%)	$28,992 (+5.0%)	0.3%	$15.33	+243.6%	COM	060505104
MCD	MCDONALDS CORP	131,000 (-3.8%)	$40,038 (-3.3%)	0.4%	$104.84	+191.0%	COM	580135101
KO	COCA COLA CO	707,950 (-2.5%)	$49,493 (+2.7%)	0.5%	$29.79	+133.0%	COM	191216100
MPWR	MONOLITHIC PWR SYS INC	39,272 (-1.8%)	$35,595 (-3.3%)	0.4%	$682.53	+40.8%	COM	609839105
DAL	DELTA AIR LINES INC DEL	113,400 (-3.9%)	$7,870 (+17.5%)	0.1%	$37.88	+64.8%	COM NEW	247361702
GFI	GOLD FIELDS LTD	91,692 (-24.8%)	$4,003 (-21.8%)	0.0%	$41.96	—	SPONSORED ADR	38059T106
LOW	LOWES COS INC	67,200 (-2.0%)	$16,206 (-6.0%)	0.2%	$61.67	+288.9%	COM	548661107
DXCM	DEXCOM INC	490,130 (-1.6%)	$32,530 (-2.9%)	0.3%	$85.17	-24.1%	COM	252131107
WH	WYNDHAM HOTELS & RESORTS INC	151,650 (-2.0%)	$11,459 (-7.3%)	0.1%	$64.25	+17.3%	COM	98311A105
MA	MASTERCARD INCORPORATED	38,600 (-3.7%)	$22,036 (-3.4%)	0.2%	$96.98	+476.3%	CL A	57636Q104
TMO	THERMO FISHER SCIENTIFIC INC	84,085 (-15.0%)	$48,723 (+1.5%)	0.5%	$251.74	+124.5%	COM	883556102
OTIS	OTIS WORLDWIDE CORP	128,800 (-1.5%)	$11,251 (-5.9%)	0.1%	$57.97	+53.9%	COM	68902V107
EDU	NEW ORIENTAL ED & TECHNOLOGY	32,719 (-30.7%)	$1,801 (-28.1%)	0.0%	$53.07	—	SPON ADR	647581206
SPGI	S&P GLOBAL INC	42,400 (-3.9%)	$22,158 (+3.2%)	0.2%	$343.70	+43.8%	COM	78409V104
PFE	PFIZER INC	424,900 (-4.0%)	$10,580 (-6.1%)	0.1%	$40.23	-37.8%	COM	717081103
CNQ	CANADIAN NAT RES LTD	747,803 (-3.3%)	$25,313 (+2.5%)	0.3%	$34.49	-6.0%	COM	136385101
ADBE	ADOBE INC	48,350 (-2.6%)	$16,922 (-3.4%)	0.2%	$349.99	-2.8%	COM	00724F101
MDT	MEDTRONIC PLC	237,490 (-3.4%)	$22,813 (-2.5%)	0.2%	$77.31	+25.6%	SHS	G5960L103
DE	DEERE & CO	56,600 (-3.9%)	$26,351 (-2.2%)	0.3%	$193.35	+141.9%	COM	244199105
BA	BOEING CO	68,500 (-3.7%)	$14,873 (-3.1%)	0.2%	$108.66	+89.3%	COM	097023105
AIG	AMERICAN INTL GROUP INC	121,900 (-3.9%)	$10,429 (+4.7%)	0.1%	$53.46	+49.0%	COM NEW	026874784
MET	METLIFE INC	66,150 (-3.9%)	$5,222 (-7.9%)	0.1%	$59.26	+33.2%	COM	59156R108
AEG	AEGON LTD	169,398 (-22.5%)	$1,306 (-25.2%)	0.0%	$7.99	—	AMER REG 1 CERT	0076CA104
PNC	PNC FINL SVCS GROUP INC	105,050 (-1.8%)	$21,927 (+2.0%)	0.2%	$68.11	+183.1%	COM	693475105
EW	EDWARDS LIFESCIENCES CORP	72,150 (-3.9%)	$6,151 (+5.3%)	0.1%	$83.11	-1.3%	COM	28176E108
AXP	AMERICAN EXPRESS CO	96,600 (-11.0%)	$35,737 (-0.8%)	0.4%	$110.13	+224.1%	COM	025816109
PEP	PEPSICO INC	74,600 (-3.1%)	$10,707 (-1.0%)	0.1%	$59.48	+145.3%	COM	713448108
GE	GE AEROSPACE	147,517 (-2.5%)	$45,440 (-0.2%)	0.5%	$62.95	+377.8%	COM NEW	369604301
QCOM	QUALCOMM INC	33,700 (-1.2%)	$5,764 (+1.6%)	0.1%	$43.57	+292.0%	COM	747525103
KIE	SPDR SERIES TRUST	605,150 (-1.6%)	$36,400 (-0.2%)	0.4%	$33.58	—	STATE STREET SPD	78464A789
IBM	INTERNATIONAL BUSINESS MACHS	27,700 (-3.8%)	$8,205 (+1.0%)	0.1%	$141.50	+111.2%	COM	459200101

Unchanged Positions (64)

LLY ELI LILLY & CO 0.9%

Value ($000) $92,315 Shares 85,900 Est. Cost $194.09 Unrealized +392.3%

ORCL ORACLE CORP 0.4%

Value ($000) $37,102 Shares 190,356 Est. Cost $124.59 Unrealized +91.1%

AMZN AMAZON COM INC 3.1%

Value ($000) $307,227 Shares 1,331,024 Est. Cost $122.26 Unrealized +87.1%

GLD SPDR GOLD TR 1.0%

Value ($000) $99,910 Shares 252,100 Est. Cost $180.74 Unrealized —

ETN EATON CORP PLC 0.4%

Value ($000) $44,359 Shares 139,269 Est. Cost $209.69 Unrealized +69.0%

DFAX DIMENSIONAL ETF TRUST 1.6%

Value ($000) $157,321 Shares 4,806,630 Est. Cost $28.62 Unrealized —

MS MORGAN STANLEY 0.6%

Value ($000) $58,416 Shares 329,050 Est. Cost $38.26 Unrealized +335.1%

CAT CATERPILLAR INC 0.4%

Value ($000) $36,435 Shares 63,600 Est. Cost $107.44 Unrealized +417.0%

FDX FEDEX CORP 0.3%

Value ($000) $24,799 Shares 85,850 Est. Cost $221.46 Unrealized +18.1%

RTX RTX CORPORATION 0.4%

Value ($000) $40,369 Shares 220,115 Est. Cost $54.61 Unrealized +217.4%

NVDA NVIDIA CORPORATION 5.5%

Value ($000) $545,083 Shares 2,922,698 Est. Cost $94.19 Unrealized +97.6%

DFAE DIMENSIONAL ETF TRUST 1.0%

Value ($000) $100,540 Shares 3,086,900 Est. Cost $26.73 Unrealized —

V VISA INC 1.2%

Value ($000) $116,769 Shares 332,951 Est. Cost $82.02 Unrealized +315.0%

H HYATT HOTELS CORP 0.2%

Value ($000) $19,326 Shares 120,548 Est. Cost $86.34 Unrealized +77.4%

SLB SLB LIMITED 0.2%

Value ($000) $20,581 Shares 536,247 Est. Cost $50.66 Unrealized -28.8%

ORLY OREILLY AUTOMOTIVE INC 0.1%

Value ($000) $10,261 Shares 112,500 Est. Cost $89.74 Unrealized +8.9%

GEV GE VERNOVA INC 0.3%

Value ($000) $29,584 Shares 45,265 Est. Cost $158.10 Unrealized +285.2%

IBB ISHARES TR 0.1%

Value ($000) $11,983 Shares 71,000 Est. Cost $151.49 Unrealized —

IDXX IDEXX LABS INC 0.3%

Value ($000) $30,714 Shares 45,400 Est. Cost $446.34 Unrealized +52.6%

XLRE SELECT SECTOR SPDR TR 0.3%

Value ($000) $26,591 Shares 659,000 Est. Cost $40.06 Unrealized —

JCPB J P MORGAN EXCHANGE TRADED F 2.8%

Value ($000) $276,823 Shares 5,846,314 Est. Cost $47.27 Unrealized —

KKR KKR & CO INC 0.5%

Value ($000) $48,098 Shares 377,300 Est. Cost $102.19 Unrealized +21.6%

DFCF DIMENSIONAL ETF TRUST 2.0%

Value ($000) $193,153 Shares 4,538,370 Est. Cost $42.73 Unrealized —

VPL VANGUARD INTL EQUITY INDEX F 0.3%

Value ($000) $31,640 Shares 350,000 Est. Cost $79.20 Unrealized —

AZN ASTRAZENECA PLC 0.1%

Value ($000) $5,318 Shares 57,852 Est. Cost $76.72 Unrealized —

XLI SELECT SECTOR SPDR TR 1.5%

Value ($000) $143,253 Shares 923,500 Est. Cost $111.83 Unrealized —

HUBB HUBBELL INC 0.3%

Value ($000) $31,532 Shares 71,000 Est. Cost $373.13 Unrealized +17.2%

SAN BANCO SANTANDER SA 0.1%

Value ($000) $6,045 Shares 515,311 Est. Cost $10.48 Unrealized —

TM TOYOTA MOTOR CORP 0.1%

Value ($000) $5,715 Shares 26,698 Est. Cost $191.09 Unrealized —

HSBC HSBC HLDGS PLC 0.1%

Value ($000) $6,101 Shares 77,552 Est. Cost $70.98 Unrealized —

IWM ISHARES TR 0.3%

Value ($000) $33,867 Shares 137,580 Est. Cost $220.89 Unrealized —

B BARRICK MNG CORP 0.0%

Value ($000) $2,253 Shares 51,742 Est. Cost $25.15 Unrealized +48.8%

SONY SONY GROUP CORP 0.0%

Value ($000) $4,278 Shares 167,119 Est. Cost $28.79 Unrealized —

USHY ISHARES TR 0.5%

Value ($000) $50,670 Shares 1,355,000 Est. Cost $36.81 Unrealized —

SMFG SUMITOMO MITSUI FINL GROUP I 0.0%

Value ($000) $3,653 Shares 188,992 Est. Cost $16.74 Unrealized —

SAP SAP SE 0.0%

Value ($000) $4,694 Shares 19,324 Est. Cost $267.21 Unrealized —

BHP BHP GROUP LTD 0.1%

Value ($000) $5,388 Shares 89,252 Est. Cost $55.75 Unrealized —

HDB HDFC BANK LTD 0.1%

Value ($000) $5,712 Shares 156,328 Est. Cost $34.16 Unrealized —

GOOGL ALPHABET INC 0.0%

Value ($000) $1,565 Shares 5,000 Est. Cost $106.38 Unrealized +168.5%

NVS NOVARTIS AG 0.1%

Value ($000) $4,935 Shares 35,796 Est. Cost $128.24 Unrealized —

USFD US FOODS HLDG CORP 0.2%

Value ($000) $15,580 Shares 206,850 Est. Cost $37.50 Unrealized +100.3%

BKNG BOOKING HOLDINGS INC 0.4%

Value ($000) $34,970 Shares 6,530 Est. Cost $1914.13 Unrealized +168.4%

NGG NATIONAL GRID PLC 0.0%

Value ($000) $4,715 Shares 60,957 Est. Cost $72.67 Unrealized —

NVO NOVO-NORDISK A S 0.0%

Value ($000) $3,033 Shares 59,614 Est. Cost $55.49 Unrealized —

HUBS HUBSPOT INC 0.0%

Value ($000) $1,405 Shares 3,500 Est. Cost $503.08 Unrealized -17.7%

XLP SELECT SECTOR SPDR TR 0.3%

Value ($000) $26,155 Shares 336,700 Est. Cost $74.75 Unrealized —

DEO DIAGEO PLC 0.0%

Value ($000) $2,129 Shares 24,675 Est. Cost $95.43 Unrealized —

IWR ISHARES TR 0.7%

Value ($000) $73,040 Shares 758,700 Est. Cost $76.03 Unrealized —

MELI MERCADOLIBRE INC 0.0%

Value ($000) $1,287 Shares 639 Est. Cost $2400.46 Unrealized -12.5%

TLK P T TELEKOMUNIKASI INDONESIA 0.0%

Value ($000) $1,832 Shares 87,020 Est. Cost $18.82 Unrealized —

ACWX ISHARES TR 0.1%

Value ($000) $6,042 Shares 90,000 Est. Cost $49.67 Unrealized —

FMS FRESENIUS MEDICAL CARE AG 0.0%

Value ($000) $1,601 Shares 67,196 Est. Cost $26.33 Unrealized —

BSX BOSTON SCIENTIFIC CORP 0.1%

Value ($000) $6,779 Shares 71,100 Est. Cost $38.30 Unrealized +156.0%

MRVL MARVELL TECHNOLOGY INC 0.1%

Value ($000) $12,646 Shares 148,809 Est. Cost $64.54 Unrealized +35.5%

FUTU FUTU HLDGS LTD 0.0%

Value ($000) $1,969 Shares 11,992 Est. Cost $173.91 Unrealized —

NU NU HLDGS LTD 0.0%

Value ($000) $2,475 Shares 147,832 Est. Cost $13.95 Unrealized +15.2%

SNN SMITH & NEPHEW PLC 0.0%

Value ($000) $910 Shares 27,747 Est. Cost $36.29 Unrealized —

BKLN INVESCO EXCH TRADED FD TR II 0.3%

Value ($000) $25,200 Shares 1,200,000 Est. Cost $20.99 Unrealized —

FMX FOMENTO ECONOMICO MEXICANO S 0.0%

Value ($000) $2,946 Shares 29,151 Est. Cost $98.63 Unrealized —

GILD GILEAD SCIENCES INC 0.0%

Value ($000) $736 Shares 6,000 Est. Cost $47.39 Unrealized +155.1%

SBUX STARBUCKS CORP 0.1%

Value ($000) $10,215 Shares 121,300 Est. Cost $61.78 Unrealized +36.1%

MUFG MITSUBISHI UFJ FINL GROUP IN 0.1%

Value ($000) $6,254 Shares 394,330 Est. Cost $15.94 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 0.0%

Value ($000) $883 Shares 12,000 Est. Cost $58.33 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.0%

Value ($000) $1,511 Shares 28,100 Est. Cost $50.11 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	85,900	$92,315	0.9%	$194.09	+392.3%	COM	532457108
ORCL	ORACLE CORP	190,356	$37,102	0.4%	$124.59	+91.1%	COM	68389X105
AMZN	AMAZON COM INC	1,331,024	$307,227	3.1%	$122.26	+87.1%	COM	023135106
GLD	SPDR GOLD TR	252,100	$99,910	1.0%	$180.74	—	GOLD SHS	78463V107
ETN	EATON CORP PLC	139,269	$44,359	0.4%	$209.69	+69.0%	SHS	G29183103
DFAX	DIMENSIONAL ETF TRUST	4,806,630	$157,321	1.6%	$28.62	—	WORLD EX US CORE	25434V880
MS	MORGAN STANLEY	329,050	$58,416	0.6%	$38.26	+335.1%	COM NEW	617446448
CAT	CATERPILLAR INC	63,600	$36,435	0.4%	$107.44	+417.0%	COM	149123101
FDX	FEDEX CORP	85,850	$24,799	0.3%	$221.46	+18.1%	COM	31428X106
RTX	RTX CORPORATION	220,115	$40,369	0.4%	$54.61	+217.4%	COM	75513E101
NVDA	NVIDIA CORPORATION	2,922,698	$545,083	5.5%	$94.19	+97.6%	COM	67066G104
DFAE	DIMENSIONAL ETF TRUST	3,086,900	$100,540	1.0%	$26.73	—	EMGR CRE EQT MNG	25434V302
V	VISA INC	332,951	$116,769	1.2%	$82.02	+315.0%	COM CL A	92826C839
H	HYATT HOTELS CORP	120,548	$19,326	0.2%	$86.34	+77.4%	COM CL A	448579102
SLB	SLB LIMITED	536,247	$20,581	0.2%	$50.66	-28.8%	COM STK	806857108
ORLY	OREILLY AUTOMOTIVE INC	112,500	$10,261	0.1%	$89.74	+8.9%	COM	67103H107
GEV	GE VERNOVA INC	45,265	$29,584	0.3%	$158.10	+285.2%	COM	36828A101
IBB	ISHARES TR	71,000	$11,983	0.1%	$151.49	—	ISHARES BIOTECH	464287556
IDXX	IDEXX LABS INC	45,400	$30,714	0.3%	$446.34	+52.6%	COM	45168D104
XLRE	SELECT SECTOR SPDR TR	659,000	$26,591	0.3%	$40.06	—	STATE STREET REA	81369Y860
JCPB	J P MORGAN EXCHANGE TRADED F	5,846,314	$276,823	2.8%	$47.27	—	CORE PLUS BD ETF	46641Q670
KKR	KKR & CO INC	377,300	$48,098	0.5%	$102.19	+21.6%	COM	48251W104
DFCF	DIMENSIONAL ETF TRUST	4,538,370	$193,153	2.0%	$42.73	—	CORE FIXED INCOM	25434V872
VPL	VANGUARD INTL EQUITY INDEX F	350,000	$31,640	0.3%	$79.20	—	FTSE PACIFIC ETF	922042866
AZN	ASTRAZENECA PLC	57,852	$5,318	0.1%	$76.72	—	SPONSORED ADR	046353108
XLI	SELECT SECTOR SPDR TR	923,500	$143,253	1.5%	$111.83	—	STATE STREET IND	81369Y704
HUBB	HUBBELL INC	71,000	$31,532	0.3%	$373.13	+17.2%	COM	443510607
SAN	BANCO SANTANDER SA	515,311	$6,045	0.1%	$10.48	—	ADR	05964H105
TM	TOYOTA MOTOR CORP	26,698	$5,715	0.1%	$191.09	—	ADS	892331307
HSBC	HSBC HLDGS PLC	77,552	$6,101	0.1%	$70.98	—	SPON ADR NEW	404280406
IWM	ISHARES TR	137,580	$33,867	0.3%	$220.89	—	RUSSELL 2000 ETF	464287655
B	BARRICK MNG CORP	51,742	$2,253	0.0%	$25.15	+48.8%	COM SHS	06849F108
SONY	SONY GROUP CORP	167,119	$4,278	0.0%	$28.79	—	SPONSORED ADR	835699307
USHY	ISHARES TR	1,355,000	$50,670	0.5%	$36.81	—	BROAD USD HIGH	46435U853
SMFG	SUMITOMO MITSUI FINL GROUP I	188,992	$3,653	0.0%	$16.74	—	SPONSORED ADR	86562M209
SAP	SAP SE	19,324	$4,694	0.0%	$267.21	—	SPON ADR	803054204
BHP	BHP GROUP LTD	89,252	$5,388	0.1%	$55.75	—	SPONSORED ADS	088606108
HDB	HDFC BANK LTD	156,328	$5,712	0.1%	$34.16	—	SPONSORED ADS	40415F101
GOOGL	ALPHABET INC	5,000	$1,565	0.0%	$106.38	+168.5%	CAP STK CL A	02079K305
NVS	NOVARTIS AG	35,796	$4,935	0.1%	$128.24	—	SPONSORED ADR	66987V109
USFD	US FOODS HLDG CORP	206,850	$15,580	0.2%	$37.50	+100.3%	COM	912008109
BKNG	BOOKING HOLDINGS INC	6,530	$34,970	0.4%	$1914.13	+168.4%	COM	09857L108
NGG	NATIONAL GRID PLC	60,957	$4,715	0.0%	$72.67	—	SPONSORED ADR NE	636274409
NVO	NOVO-NORDISK A S	59,614	$3,033	0.0%	$55.49	—	ADR	670100205
HUBS	HUBSPOT INC	3,500	$1,405	0.0%	$503.08	-17.7%	COM	443573100
XLP	SELECT SECTOR SPDR TR	336,700	$26,155	0.3%	$74.75	—	STATE STREET CON	81369Y308
DEO	DIAGEO PLC	24,675	$2,129	0.0%	$95.43	—	SPON ADR NEW	25243Q205
IWR	ISHARES TR	758,700	$73,040	0.7%	$76.03	—	RUS MID CAP ETF	464287499
MELI	MERCADOLIBRE INC	639	$1,287	0.0%	$2400.46	-12.5%	COM	58733R102
TLK	P T TELEKOMUNIKASI INDONESIA	87,020	$1,832	0.0%	$18.82	—	SPONSORED ADR	715684106
ACWX	ISHARES TR	90,000	$6,042	0.1%	$49.67	—	MSCI ACWI EX US	464288240
FMS	FRESENIUS MEDICAL CARE AG	67,196	$1,601	0.0%	$26.33	—	SPONSORED ADR	358029106
BSX	BOSTON SCIENTIFIC CORP	71,100	$6,779	0.1%	$38.30	+156.0%	COM	101137107
MRVL	MARVELL TECHNOLOGY INC	148,809	$12,646	0.1%	$64.54	+35.5%	COM	573874104
FUTU	FUTU HLDGS LTD	11,992	$1,969	0.0%	$173.91	—	SPON ADS CL A	36118L106
NU	NU HLDGS LTD	147,832	$2,475	0.0%	$13.95	+15.2%	ORD SHS CL A	G6683N103
SNN	SMITH & NEPHEW PLC	27,747	$910	0.0%	$36.29	—	SPDN ADR NEW	83175M205
BKLN	INVESCO EXCH TRADED FD TR II	1,200,000	$25,200	0.3%	$20.99	—	SR LN ETF	46138G508
FMX	FOMENTO ECONOMICO MEXICANO S	29,151	$2,946	0.0%	$98.63	—	SPON ADR UNITS	344419106
GILD	GILEAD SCIENCES INC	6,000	$736	0.0%	$47.39	+155.1%	COM	375558103
SBUX	STARBUCKS CORP	121,300	$10,215	0.1%	$61.78	+36.1%	COM	855244109
MUFG	MITSUBISHI UFJ FINL GROUP IN	394,330	$6,254	0.1%	$15.94	—	SPONSORED ADS	606822104
VEU	VANGUARD INTL EQUITY INDEX F	12,000	$883	0.0%	$58.33	—	ALLWRLD EX US	922042775
VWO	VANGUARD INTL EQUITY INDEX F	28,100	$1,511	0.0%	$50.11	—	FTSE EMR MKT ETF	922042858