AXA S.A. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TTE	TOTALENERGIES SE	204,844	$11,387	5.4%	$63.23	0.0%	ACT	F92124100
GOOG	ALPHABET INC	20,911	$6,562	3.1%	$286.33	0.0%	CAP STK CL C	02079K107
AVGO	BROADCOM INC	10,068	$3,485	1.6%	$357.00	0.0%	COM	11135F101
AMD	ADVANCED MICRO DEVICES INC	9,277	$1,987	0.9%	$224.60	0.0%	COM	007903107
ADSK	AUTODESK INC	5,946	$1,760	0.8%	$302.56	0.0%	COM	052769106
HLI	HOULIHAN LOKEY INC	4,737	$825	0.4%	$183.13	0.0%	CL A	441593100
CSGP	COSTAR GROUP INC	10,812	$727	0.3%	$70.84	0.0%	COM	22160N109
ARMK	ARAMARK	17,584	$648	0.3%	$37.92	0.0%	COM	03852U106
ENSG	ENSIGN GROUP INC	3,095	$539	0.3%	$179.59	0.0%	COM	29358P101
CVLT	COMMVAULT SYS INC	3,438	$431	0.2%	$140.69	0.0%	COM	204166102
MRNA	MODERNA INC	10,905	$322	0.2%	$27.17	0.0%	COM	60770K107
COR	CENCORA INC	773	$261	0.1%	$340.62	0.0%	COM	03073E105
LIN	LINDE PLC	584	$249	0.1%	$427.28	0.0%	SHS	G54950103
LRCX	LAM RESEARCH CORP	1,380	$236	0.1%	$155.36	0.0%	COM NEW	512807306
WMT	WALMART INC	1,862	$207	0.1%	$107.20	0.0%	COM	931142103
APP	APPLOVIN CORP	306	$206	0.1%	$630.10	0.0%	COM CL A	03831W108

Increased Positions (12)

BRK/B BERKSHIRE HATHAWAY INC DEL 4.2%

Value ($000) $8,982 (+16.4%) Shares 17,870 (+16.4%) Est. Cost $371.46 Unrealized +33.9%

STLA STELLANTIS N.V 2.2%

Value ($000) $4,732 (+28.2%) Shares 503,390 (+7.3%) Est. Cost $16.95 Unrealized —

RACE FERRARI N V 1.9%

Value ($000) $4,018 (-18.1%) Shares 10,872 (+7.5%) Est. Cost $184.84 Unrealized +116.5%

NFLX NETFLIX INC 0.8%

Value ($000) $1,670 (-33.3%) Shares 17,812 (+753.1%) Est. Cost $103.60 Unrealized +4.1%

NOW SERVICENOW INC 0.5%

Value ($000) $976 (-29.5%) Shares 6,373 (+323.5%) Est. Cost $152.40 Unrealized +12.6%

ADBE ADOBE INC 0.8%

Value ($000) $1,593 (+13.3%) Shares 4,551 (+14.2%) Est. Cost $329.63 Unrealized +3.2%

GE GE AEROSPACE 0.3%

Value ($000) $665 (+32.5%) Shares 2,159 (+29.4%) Est. Cost $172.81 Unrealized +74.1%

BABA ALIBABA GROUP HLDG LTD 0.4%

Value ($000) $846 (+22.2%) Shares 5,326 (+37.5%) Est. Cost $132.41 Unrealized —

RTX RTX CORPORATION 0.3%

Value ($000) $620 (+31.6%) Shares 3,380 (+20.0%) Est. Cost $136.85 Unrealized +26.7%

TSCO TRACTOR SUPPLY CO 0.4%

Value ($000) $816 (-8.1%) Shares 16,313 (+4.5%) Est. Cost $51.08 Unrealized +5.1%

ORCL ORACLE CORP 0.1%

Value ($000) $269 (+29.4%) Shares 1,378 (+86.7%) Est. Cost $163.84 Unrealized +45.3%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.3%

Value ($000) $562 (+2.8%) Shares 9,240 (+372.4%) Est. Cost $69.70 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	17,870 (+16.4%)	$8,982 (+16.4%)	4.2%	$371.46	+33.9%	CL B NEW	084670702
STLA	STELLANTIS N.V	503,390 (+7.3%)	$4,732 (+28.2%)	2.2%	$16.95	—	SHS	N82405106
RACE	FERRARI N V	10,872 (+7.5%)	$4,018 (-18.1%)	1.9%	$184.84	+116.5%	COM	N3167Y103
NFLX	NETFLIX INC	17,812 (+753.1%)	$1,670 (-33.3%)	0.8%	$103.60	+4.1%	COM	64110L106
NOW	SERVICENOW INC	6,373 (+323.5%)	$976 (-29.5%)	0.5%	$152.40	+12.6%	COM	81762P102
ADBE	ADOBE INC	4,551 (+14.2%)	$1,593 (+13.3%)	0.8%	$329.63	+3.2%	COM	00724F101
GE	GE AEROSPACE	2,159 (+29.4%)	$665 (+32.5%)	0.3%	$172.81	+74.1%	COM NEW	369604301
BABA	ALIBABA GROUP HLDG LTD	5,326 (+37.5%)	$846 (+22.2%)	0.4%	$132.41	—	SPONSORED ADS	01609W102
RTX	RTX CORPORATION	3,380 (+20.0%)	$620 (+31.6%)	0.3%	$136.85	+26.7%	COM	75513E101
TSCO	TRACTOR SUPPLY CO	16,313 (+4.5%)	$816 (-8.1%)	0.4%	$51.08	+5.1%	COM	892356106
ORCL	ORACLE CORP	1,378 (+86.7%)	$269 (+29.4%)	0.1%	$163.84	+45.3%	COM	68389X105
TSM	TAIWAN SEMICONDUCTOR MFG LTD	9,240 (+372.4%)	$562 (+2.8%)	0.3%	$69.70	—	SPONSORED ADS	874039100

Exited Positions (4)

VOO VANGUARD INDEX FDS 1.6%

Value ($000) $3,323 Shares 5,427 Est. Cost $582.14 Unrealized —

MDLZ MONDELEZ INTL INC 0.6%

Value ($000) $1,169 Shares 18,707 Est. Cost $59.13 Unrealized -3.5%

ANET ARISTA NETWORKS INC 0.1%

Value ($000) $311 Shares 2,133 Est. Cost $102.66 Unrealized +34.1%

SPOT SPOTIFY TECHNOLOGY S A 0.1%

Value ($000) $239 Shares 342 Est. Cost $340.19 Unrealized +83.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VOO	VANGUARD INDEX FDS	5,427	$3,323	1.6%	$582.14	—	—	922908363
MDLZ	MONDELEZ INTL INC	18,707	$1,169	0.6%	$59.13	-3.5%	—	609207105
ANET	ARISTA NETWORKS INC	2,133	$311	0.1%	$102.66	+34.1%	—	040413205
SPOT	SPOTIFY TECHNOLOGY S A	342	$239	0.1%	$340.19	+83.8%	—	L8681T102

Decreased Positions (37)

GOOGL ALPHABET INC 2.6%

Value ($000) $5,539 (-46.6%) Shares 17,301 (-59.4%) Est. Cost $111.51 Unrealized +156.1%

MSFT MICROSOFT CORP 4.9%

Value ($000) $10,323 (-15.5%) Shares 21,346 (-9.5%) Est. Cost $133.63 Unrealized +274.6%

NVDA NVIDIA CORPORATION 5.0%

Value ($000) $10,606 (-11.7%) Shares 56,866 (-11.6%) Est. Cost $94.20 Unrealized +97.6%

META META PLATFORMS INC 1.8%

Value ($000) $3,778 (-21.9%) Shares 5,724 (-13.1%) Est. Cost $433.74 Unrealized +53.9%

CIEN CIENA CORP 0.8%

Value ($000) $1,620 (-26.9%) Shares 6,928 (-54.5%) Est. Cost $46.87 Unrealized +314.0%

UBER UBER TECHNOLOGIES INC 0.6%

Value ($000) $1,273 (-28.8%) Shares 15,575 (-14.7%) Est. Cost $52.26 Unrealized +72.3%

LLY ELI LILLY & CO 1.4%

Value ($000) $2,929 (+20.7%) Shares 2,725 (-14.3%) Est. Cost $250.40 Unrealized +281.6%

EXAS EXACT SCIENCES CORP 0.6%

Value ($000) $1,297 (+58.4%) Shares 12,767 (-14.7%) Est. Cost $80.28 Unrealized +0.0%

ETN EATON CORP PLC 0.6%

Value ($000) $1,193 (-27.4%) Shares 3,747 (-14.7%) Est. Cost $231.23 Unrealized +53.3%

COST COSTCO WHSL CORP NEW 0.6%

Value ($000) $1,192 (-20.5%) Shares 1,382 (-14.7%) Est. Cost $341.78 Unrealized +165.0%

ICE INTERCONTINENTAL EXCHANGE IN 0.6%

Value ($000) $1,348 (-18.0%) Shares 8,320 (-14.7%) Est. Cost $99.83 Unrealized +56.5%

BSX BOSTON SCIENTIFIC CORP 0.7%

Value ($000) $1,434 (-16.7%) Shares 15,037 (-14.7%) Est. Cost $51.92 Unrealized +88.8%

AAPL APPLE INC 3.9%

Value ($000) $8,169 (-3.4%) Shares 30,048 (-9.5%) Est. Cost $91.88 Unrealized +192.1%

PGR PROGRESSIVE CORP 0.5%

Value ($000) $1,032 (-21.3%) Shares 4,533 (-14.7%) Est. Cost $139.39 Unrealized +52.3%

EOG EOG RES INC 0.5%

Value ($000) $982 (-20.8%) Shares 9,352 (-15.4%) Est. Cost $95.93 Unrealized +11.8%

TSLA TESLA INC 0.6%

Value ($000) $1,212 (-15.7%) Shares 2,694 (-16.7%) Est. Cost $236.95 Unrealized +87.1%

JPM JPMORGAN CHASE & CO. 0.3%

Value ($000) $717 (-22.5%) Shares 2,224 (-24.1%) Est. Cost $139.90 Unrealized +121.3%

MSA MSA SAFETY INC 0.3%

Value ($000) $708 (-20.6%) Shares 4,419 (-14.7%) Est. Cost $156.92 Unrealized +3.8%

CLH CLEAN HARBORS INC 0.5%

Value ($000) $1,073 (-13.9%) Shares 4,576 (-14.7%) Est. Cost $184.69 Unrealized +23.7%

ECL ECOLAB INC 0.4%

Value ($000) $768 (-18.2%) Shares 2,925 (-14.7%) Est. Cost $179.97 Unrealized +47.6%

BKNG BOOKING HOLDINGS INC 0.5%

Value ($000) $953 (-15.1%) Shares 178 (-14.4%) Est. Cost $2511.37 Unrealized +104.6%

NEE NEXTERA ENERGY INC 0.8%

Value ($000) $1,633 (-9.3%) Shares 20,344 (-14.7%) Est. Cost $63.13 Unrealized +30.7%

UNH UNITEDHEALTH GROUP INC 0.3%

Value ($000) $731 (-18.5%) Shares 2,213 (-14.7%) Est. Cost $211.58 Unrealized +59.4%

TJX TJX COS INC NEW 0.7%

Value ($000) $1,468 (-9.3%) Shares 9,559 (-14.7%) Est. Cost $75.22 Unrealized +96.4%

PLNT PLANET FITNESS INC 0.5%

Value ($000) $1,149 (-10.8%) Shares 10,590 (-14.7%) Est. Cost $63.83 Unrealized +61.3%

IR INGERSOLL RAND INC 0.3%

Value ($000) $595 (-18.2%) Shares 7,516 (-14.7%) Est. Cost $90.83 Unrealized -13.1%

BAC BANK AMERICA CORP 1.0%

Value ($000) $2,079 (-5.7%) Shares 37,805 (-11.6%) Est. Cost $26.83 Unrealized +96.3%

AMZN AMAZON COM INC 3.7%

Value ($000) $7,747 (+1.6%) Shares 33,565 (-3.3%) Est. Cost $125.52 Unrealized +82.3%

CRUS CIRRUS LOGIC INC 0.2%

Value ($000) $501 (-19.3%) Shares 4,229 (-14.7%) Est. Cost $80.32 Unrealized +53.3%

QCOM QUALCOMM INC 0.4%

Value ($000) $750 (-12.3%) Shares 4,387 (-14.7%) Est. Cost $81.22 Unrealized +110.3%

EW EDWARDS LIFESCIENCES CORP 0.6%

Value ($000) $1,243 (-6.5%) Shares 14,584 (-14.7%) Est. Cost $79.34 Unrealized +3.4%

AXP AMERICAN EXPRESS CO 0.8%

Value ($000) $1,616 (-4.9%) Shares 4,367 (-14.7%) Est. Cost $137.92 Unrealized +158.8%

MS MORGAN STANLEY 0.7%

Value ($000) $1,557 (-4.7%) Shares 8,771 (-14.7%) Est. Cost $96.55 Unrealized +72.4%

MRK MERCK & CO INC 0.5%

Value ($000) $1,112 (+7.0%) Shares 10,567 (-14.7%) Est. Cost $59.42 Unrealized +56.9%

MNST MONSTER BEVERAGE CORP NEW 0.7%

Value ($000) $1,523 (-2.8%) Shares 19,870 (-14.7%) Est. Cost $45.44 Unrealized +57.7%

MLM MARTIN MARIETTA MATLS INC 0.7%

Value ($000) $1,469 (-2.2%) Shares 2,360 (-1.0%) Est. Cost $375.57 Unrealized +65.4%

TMO THERMO FISHER SCIENTIFIC INC 0.5%

Value ($000) $1,137 (+1.9%) Shares 1,963 (-14.7%) Est. Cost $251.31 Unrealized +124.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	17,301 (-59.4%)	$5,539 (-46.6%)	2.6%	$111.51	+156.1%	CAP STK CL A	02079K305
MSFT	MICROSOFT CORP	21,346 (-9.5%)	$10,323 (-15.5%)	4.9%	$133.63	+274.6%	COM	594918104
NVDA	NVIDIA CORPORATION	56,866 (-11.6%)	$10,606 (-11.7%)	5.0%	$94.20	+97.6%	COM	67066G104
META	META PLATFORMS INC	5,724 (-13.1%)	$3,778 (-21.9%)	1.8%	$433.74	+53.9%	CL A	30303M102
CIEN	CIENA CORP	6,928 (-54.5%)	$1,620 (-26.9%)	0.8%	$46.87	+314.0%	COM NEW	171779309
UBER	UBER TECHNOLOGIES INC	15,575 (-14.7%)	$1,273 (-28.8%)	0.6%	$52.26	+72.3%	COM	90353T100
LLY	ELI LILLY & CO	2,725 (-14.3%)	$2,929 (+20.7%)	1.4%	$250.40	+281.6%	COM	532457108
EXAS	EXACT SCIENCES CORP	12,767 (-14.7%)	$1,297 (+58.4%)	0.6%	$80.28	+0.0%	COM	30063P105
ETN	EATON CORP PLC	3,747 (-14.7%)	$1,193 (-27.4%)	0.6%	$231.23	+53.3%	SHS	G29183103
COST	COSTCO WHSL CORP NEW	1,382 (-14.7%)	$1,192 (-20.5%)	0.6%	$341.78	+165.0%	COM	22160K105
ICE	INTERCONTINENTAL EXCHANGE IN	8,320 (-14.7%)	$1,348 (-18.0%)	0.6%	$99.83	+56.5%	COM	45866F104
BSX	BOSTON SCIENTIFIC CORP	15,037 (-14.7%)	$1,434 (-16.7%)	0.7%	$51.92	+88.8%	COM	101137107
AAPL	APPLE INC	30,048 (-9.5%)	$8,169 (-3.4%)	3.9%	$91.88	+192.1%	COM	037833100
PGR	PROGRESSIVE CORP	4,533 (-14.7%)	$1,032 (-21.3%)	0.5%	$139.39	+52.3%	COM	743315103
EOG	EOG RES INC	9,352 (-15.4%)	$982 (-20.8%)	0.5%	$95.93	+11.8%	COM	26875P101
TSLA	TESLA INC	2,694 (-16.7%)	$1,212 (-15.7%)	0.6%	$236.95	+87.1%	COM	88160R101
JPM	JPMORGAN CHASE & CO.	2,224 (-24.1%)	$717 (-22.5%)	0.3%	$139.90	+121.3%	COM	46625H100
MSA	MSA SAFETY INC	4,419 (-14.7%)	$708 (-20.6%)	0.3%	$156.92	+3.8%	COM	553498106
CLH	CLEAN HARBORS INC	4,576 (-14.7%)	$1,073 (-13.9%)	0.5%	$184.69	+23.7%	COM	184496107
ECL	ECOLAB INC	2,925 (-14.7%)	$768 (-18.2%)	0.4%	$179.97	+47.6%	COM	278865100
BKNG	BOOKING HOLDINGS INC	178 (-14.4%)	$953 (-15.1%)	0.5%	$2511.37	+104.6%	COM	09857L108
NEE	NEXTERA ENERGY INC	20,344 (-14.7%)	$1,633 (-9.3%)	0.8%	$63.13	+30.7%	COM	65339F101
UNH	UNITEDHEALTH GROUP INC	2,213 (-14.7%)	$731 (-18.5%)	0.3%	$211.58	+59.4%	COM	91324P102
TJX	TJX COS INC NEW	9,559 (-14.7%)	$1,468 (-9.3%)	0.7%	$75.22	+96.4%	COM	872540109
PLNT	PLANET FITNESS INC	10,590 (-14.7%)	$1,149 (-10.8%)	0.5%	$63.83	+61.3%	CL A	72703H101
IR	INGERSOLL RAND INC	7,516 (-14.7%)	$595 (-18.2%)	0.3%	$90.83	-13.1%	COM	45687V106
BAC	BANK AMERICA CORP	37,805 (-11.6%)	$2,079 (-5.7%)	1.0%	$26.83	+96.3%	COM	060505104
AMZN	AMAZON COM INC	33,565 (-3.3%)	$7,747 (+1.6%)	3.7%	$125.52	+82.3%	COM	023135106
CRUS	CIRRUS LOGIC INC	4,229 (-14.7%)	$501 (-19.3%)	0.2%	$80.32	+53.3%	COM	172755100
QCOM	QUALCOMM INC	4,387 (-14.7%)	$750 (-12.3%)	0.4%	$81.22	+110.3%	COM	747525103
EW	EDWARDS LIFESCIENCES CORP	14,584 (-14.7%)	$1,243 (-6.5%)	0.6%	$79.34	+3.4%	COM	28176E108
AXP	AMERICAN EXPRESS CO	4,367 (-14.7%)	$1,616 (-4.9%)	0.8%	$137.92	+158.8%	COM	025816109
MS	MORGAN STANLEY	8,771 (-14.7%)	$1,557 (-4.7%)	0.7%	$96.55	+72.4%	COM NEW	617446448
MRK	MERCK & CO INC	10,567 (-14.7%)	$1,112 (+7.0%)	0.5%	$59.42	+56.9%	COM	58933Y105
MNST	MONSTER BEVERAGE CORP NEW	19,870 (-14.7%)	$1,523 (-2.8%)	0.7%	$45.44	+57.7%	COM	61174X109
MLM	MARTIN MARIETTA MATLS INC	2,360 (-1.0%)	$1,469 (-2.2%)	0.7%	$375.57	+65.4%	COM	573284106
TMO	THERMO FISHER SCIENTIFIC INC	1,963 (-14.7%)	$1,137 (+1.9%)	0.5%	$251.31	+124.9%	COM	883556102

Unchanged Positions (8)

LFT LUMENT FINANCE TRUST INC 2.2%

Value ($000) $4,711 Shares 3,340,780 Est. Cost $3.27 Unrealized —

SPY SPDR S&P 500 ETF TR 21.9%

Value ($000) $46,322 Shares 67,929 Est. Cost $470.29 Unrealized —

MU MICRON TECHNOLOGY INC 0.9%

Value ($000) $1,812 Shares 6,348 Est. Cost $72.27 Unrealized +217.4%

IEMG ISHARES INC 4.9%

Value ($000) $10,379 Shares 154,400 Est. Cost $63.87 Unrealized —

RCL ROYAL CARIBBEAN GROUP 0.6%

Value ($000) $1,199 Shares 4,300 Est. Cost $110.88 Unrealized +153.9%

KO COCA COLA CO 1.6%

Value ($000) $3,400 Shares 48,637 Est. Cost $51.06 Unrealized +35.9%

CAT CATERPILLAR INC 0.3%

Value ($000) $569 Shares 993 Est. Cost $205.89 Unrealized +169.8%

V VISA INC 1.4%

Value ($000) $2,934 Shares 8,366 Est. Cost $140.30 Unrealized +142.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LFT	LUMENT FINANCE TRUST INC	3,340,780	$4,711	2.2%	$3.27	—	COM	55025L108
SPY	SPDR S&P 500 ETF TR	67,929	$46,322	21.9%	$470.29	—	TR UNIT	78462F103
MU	MICRON TECHNOLOGY INC	6,348	$1,812	0.9%	$72.27	+217.4%	COM	595112103
IEMG	ISHARES INC	154,400	$10,379	4.9%	$63.87	—	CORE MSCI EMKT	46434G103
RCL	ROYAL CARIBBEAN GROUP	4,300	$1,199	0.6%	$110.88	+153.9%	COM	V7780T103
KO	COCA COLA CO	48,637	$3,400	1.6%	$51.06	+35.9%	COM	191216100
CAT	CATERPILLAR INC	993	$569	0.3%	$205.89	+169.8%	COM	149123101
V	VISA INC	8,366	$2,934	1.4%	$140.30	+142.6%	COM CL A	92826C839