Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	9,802	$9.016M	3.4%	$1047.09	0.0%	COM	532457108
JNJ	JOHNSON & JOHNSON	29,674	$7.254M	2.8%	$227.87	0.0%	COM	478160104
ABBV	ABBVIE INC	21,804	$4.742M	1.8%	$222.57	0.0%	COM	00287Y109
MRK	MERCK & CO INC	30,910	$3.718M	1.4%	$114.28	0.0%	COM	58933Y105
UNH	UNITEDHEALTH GROUP INC	11,362	$3.074M	1.2%	$308.69	0.0%	COM	91324P102
AMGN	AMGEN INC	6,730	$2.368M	0.9%	$349.67	0.0%	COM	031162100
TMO	THERMO FISHER SCIENTIFIC INC	4,704	$2.312M	0.9%	$574.61	0.0%	COM	883556102
ABT	ABBOTT LABORATORIES	21,921	$2.251M	0.9%	$115.41	0.0%	COM	002824100
GILD	GILEAD SCIENCES INC	15,600	$2.174M	0.8%	$138.38	0.0%	COM	375558103
ISRG	INTUITIVE SURGICAL INC	4,467	$2.059M	0.8%	$520.97	0.0%	COM NEW	46120E602
PFE	PFIZER INC	72,027	$2.023M	0.8%	$26.18	0.0%	COM	717081103
BMY	BRISTOL-MYERS SQUIBB CO	26,054	$1.58M	0.6%	$57.43	0.0%	COM	110122108
DHR	DANAHER CORP DEL	7,960	$1.509M	0.6%	$224.68	0.0%	COM	235851102
SYK	STRYKER CORPORATION	4,409	$1.449M	0.6%	$364.67	0.0%	COM	863667101
VRTX	VERTEX PHARMACEUTICALS INC	3,233	$1.444M	0.5%	$467.55	0.0%	COM	92532F100
MCK	MCKESSON CORP	1,582	$1.369M	0.5%	$875.46	0.0%	COM	58155Q103
MDT	MEDTRONIC PLC	15,699	$1.36M	0.5%	$99.51	0.0%	SHS	G5960L103
BSX	BOSTON SCIENTIFIC CORP	18,977	$1.191M	0.5%	$85.82	0.0%	COM	101137107
CVS	CVS HEALTH CORP	16,464	$1.182M	0.4%	$77.96	0.0%	COM	126650100
REGN	REGENERON PHARMACEUTICALS	1,316	$1.017M	0.4%	$769.15	0.0%	COM	75886F107
HCA	HCA HEALTHCARE INC	2,078	$983K	0.4%	$498.00	0.0%	COM	40412C101
CI	THE CIGNA GROUP	3,500	$934K	0.4%	$280.70	0.0%	COM	125523100
ELV	ELEVANCE HEALTH INC FORMERLY	2,918	$854K	0.3%	$351.54	0.0%	COM	036752103
COR	CENCORA INC	2,541	$798K	0.3%	$353.11	0.0%	COM	03073E105
CVNA	CARVANA CO	2,494	$784K	0.3%	$408.48	0.0%	CL A	146869102
ZTS	ZOETIS INC	5,928	$701K	0.3%	$125.98	0.0%	CL A	98978V103
CAH	CARDINAL HEALTH INC	3,210	$678K	0.3%	$215.31	0.0%	COM	14149Y108
BDX	BECTON DICKINSON & CO	3,875	$609K	0.2%	$167.83	0.0%	COM	075887109
EW	EDWARDS LIFESCIENCES CORP	7,122	$570K	0.2%	$81.94	0.0%	COM	28176E108
IDXX	IDEXX LABS INC	982	$552K	0.2%	$670.28	0.0%	COM	45168D104
GEHC	GE HEALTHCARE TECHNOLOGIES I	6,346	$452K	0.2%	$82.25	0.0%	COMMON STOCK	36266G107
IQV	IQVIA HLDGS INC	2,484	$424K	0.2%	$210.16	0.0%	COM	46266C105
RMD	RESMED INC	1,782	$400K	0.2%	$255.92	0.0%	COM	761152107
A	AGILENT TECHNOLOGIES INC	3,460	$394K	0.2%	$134.76	0.0%	COM	00846U101
BIIB	BIOGEN INC	2,125	$390K	0.1%	$183.25	0.0%	COM	09062X103
WAT	WATERS CORP	1,213	$361K	0.1%	$367.10	0.0%	COM	941848103
LH	LABCORP HOLDINGS INC	1,243	$332K	0.1%	$271.07	0.0%	COM SHS	504922105
DGX	QUEST DIAGNOSTICS INC	1,672	$328K	0.1%	$190.57	0.0%	COM	74834L100
HUM	HUMANA INC	1,840	$319K	0.1%	$223.53	0.0%	COM	444859102
MTD	METTLER TOLEDO INTERNATIONAL	250	$315K	0.1%	$1413.20	0.0%	COM	592688105
DXCM	DEXCOM INC	4,785	$300K	0.1%	$70.92	0.0%	COM	252131107
ZBH	ZIMMER BIOMET HOLDINGS INC	3,079	$278K	0.1%	$91.66	0.0%	COM	98956P102
STE	STERIS PLC	1,194	$264K	0.1%	$255.43	0.0%	SHS USD	G8473T100
VTRS	VIATRIS INC	18,060	$244K	0.1%	$14.08	0.0%	COM	92556V106
CNC	CENTENE CORP DEL	7,242	$237K	0.1%	$43.34	0.0%	COM	15135B101
WST	WEST PHARMACEUTICAL SVSC INC	886	$222K	0.1%	$251.95	0.0%	COM	955306105
MRNA	MODERNA INC	4,226	$215K	0.1%	$42.94	0.0%	COM	60770K107
HOLX	HOLOGIC INC	2,735	$207K	0.1%	$75.02	0.0%	COM	436440101
HTZ	HERTZ GLOBAL HLDGS INC	14,446	$66,596	0.0%	$5.19	0.0%	COM NEW	42806J700

Increased Positions (6)

META META PLATFORMS INC 4.5%

Value $11.91M (+5.4%) Shares 20,819 (+21.6%) Est. Cost $327.26 Unrealized +100.3%

OPTU OPTIMUM COMMUNICATIONS INC 0.0%

Value $55,649 (+29.7%) Shares 42,807 (+64.6%) Est. Cost $2.10 Unrealized -20.2%

CYH COMMUNITY HEALTH SYS INC NEW 0.0%

Value $54,537 (+28.9%) Shares 18,550 (+36.8%) Est. Cost $3.08 Unrealized +6.8%

ACH ACCENDRA HEALTH INC 0.0%

Value $55,374 (+17.8%) Shares 24,287 (+44.7%) Est. Cost $3.19 Unrealized -27.2%

NWL NEWELL BRANDS INC 0.0%

Value $47,876 (-2.6%) Shares 13,958 (+5.6%) Est. Cost $4.01 Unrealized +9.0%

JBLU JETBLUE AIRWAYS CORP 0.0%

Value $49,756 (+0.7%) Shares 11,257 (+3.7%) Est. Cost $4.59 Unrealized +18.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC	20,819 (+21.6%)	$11.91M (+5.4%)	4.5%	$327.26	+100.3%	CL A	30303M102
OPTU	OPTIMUM COMMUNICATIONS INC	42,807 (+64.6%)	$55,649 (+29.7%)	0.0%	$2.10	-20.2%	CL A	02156K103
CYH	COMMUNITY HEALTH SYS INC NEW	18,550 (+36.8%)	$54,537 (+28.9%)	0.0%	$3.08	+6.8%	COM	203668108
ACH	ACCENDRA HEALTH INC	24,287 (+44.7%)	$55,374 (+17.8%)	0.0%	$3.19	-27.2%	COM	690732102
NWL	NEWELL BRANDS INC	13,958 (+5.6%)	$47,876 (-2.6%)	0.0%	$4.01	+9.0%	COM	651229106
JBLU	JETBLUE AIRWAYS CORP	11,257 (+3.7%)	$49,756 (+0.7%)	0.0%	$4.59	+18.6%	COM	477143101

Exited Positions (40)

WMT WALMART INC 3.6%

Value $9.501M Shares 85,284 Est. Cost $99.50 Unrealized +22.7%

COST COSTCO WHSL CORP NEW 2.8%

Value $7.42M Shares 8,604 Est. Cost $955.93 Unrealized +0.8%

PG PROCTER AND GAMBLE CO 2.5%

Value $6.531M Shares 45,571 Est. Cost $154.74 Unrealized -1.9%

KO COCA COLA CO 2.0%

Value $5.275M Shares 75,459 Est. Cost $67.94 Unrealized +10.0%

PM PHILIP MORRIS INTL INC 1.9%

Value $4.878M Shares 30,412 Est. Cost $164.94 Unrealized +6.7%

PEP PEPSICO INC 1.5%

Value $3.857M Shares 26,872 Est. Cost $140.43 Unrealized +10.2%

CL COLGATE PALMOLIVE CO 1.4%

Value $3.577M Shares 45,267 Est. Cost $84.06 Unrealized +5.6%

MO ALTRIA GROUP INC 1.3%

Value $3.326M Shares 57,690 Est. Cost $61.42 Unrealized +2.6%

MDLZ MONDELEZ INTL INC 1.3%

Value $3.296M Shares 61,229 Est. Cost $62.95 Unrealized -7.6%

MNST MONSTER BEVERAGE CORP NEW 1.2%

Value $3.07M Shares 40,039 Est. Cost $63.01 Unrealized +28.0%

TGT TARGET CORP 1.0%

Value $2.5M Shares 25,577 Est. Cost $96.46 Unrealized +13.2%

KR KROGER CO 0.8%

Value $2.151M Shares 34,423 Est. Cost $68.87 Unrealized -6.2%

KDP KEURIG DR PEPPER INC 0.8%

Value $2.148M Shares 76,682 Est. Cost $30.62 Unrealized -7.5%

SYY SYSCO CORP 0.8%

Value $1.995M Shares 27,073 Est. Cost $78.70 Unrealized +4.5%

KMB KIMBERLY-CLARK CORP 0.7%

Value $1.894M Shares 18,774 Est. Cost $125.67 Unrealized -18.0%

KVUE KENVUE INC 0.7%

Value $1.875M Shares 108,691 Est. Cost $19.60 Unrealized -9.9%

DG DOLLAR GEN CORP NEW 0.6%

Value $1.665M Shares 12,539 Est. Cost $109.08 Unrealized +35.4%

ADM ARCHER DANIELS MIDLAND CO 0.6%

Value $1.572M Shares 27,336 Est. Cost $57.87 Unrealized +13.4%

HSY HERSHEY CO 0.6%

Value $1.532M Shares 8,416 Est. Cost $179.77 Unrealized +13.9%

EL LAUDER ESTEE COS INC 0.6%

Value $1.472M Shares 14,055 Est. Cost $89.31 Unrealized +25.3%

GIS GENERAL MLS INC 0.5%

Value $1.419M Shares 30,516 Est. Cost $49.39 Unrealized -7.9%

DLTR DOLLAR TREE INC 0.5%

Value $1.38M Shares 11,218 Est. Cost $107.02 Unrealized +20.0%

KHC KRAFT HEINZ CO 0.5%

Value $1.186M Shares 48,915 Est. Cost $26.39 Unrealized -9.4%

STZ CONSTELLATION BRANDS INC 0.4%

Value $1.136M Shares 8,231 Est. Cost $157.52 Unrealized -1.0%

CHD CHURCH & DWIGHT CO INC 0.4%

Value $1.129M Shares 13,463 Est. Cost $92.91 Unrealized +2.0%

TSN TYSON FOODS INC 0.4%

Value $974K Shares 16,613 Est. Cost $54.42 Unrealized +14.4%

MKC MCCORMICK & CO INC 0.4%

Value $950K Shares 13,954 Est. Cost $68.90 Unrealized -3.2%

BG BUNGE GLOBAL SA 0.3%

Value $690K Shares 7,743 Est. Cost $80.40 Unrealized +39.4%

CLX CLOROX CO DEL 0.3%

Value $681K Shares 6,749 Est. Cost $121.60 Unrealized -5.9%

SJM SMUCKER J M CO 0.2%

Value $621K Shares 6,349 Est. Cost $106.70 Unrealized -2.4%

CAG CONAGRA BRANDS INC 0.2%

Value $504K Shares 29,115 Est. Cost $18.60 Unrealized -3.1%

TAP MOLSON COORS BEVERAGE CO 0.2%

Value $483K Shares 10,357 Est. Cost $48.35 Unrealized +2.3%

HRL HORMEL FOODS CORP 0.2%

Value $429K Shares 18,117 Est. Cost $26.98 Unrealized -10.1%

CPB THE CAMPBELLS COMPANY 0.1%

Value $344K Shares 12,341 Est. Cost $31.77 Unrealized -14.1%

LW LAMB WESTON HLDGS INC 0.1%

Value $323K Shares 7,704 Est. Cost $54.38 Unrealized -16.0%

CUZ COUSINS PPTYS INC 0.1%

Value $280K Shares 10,866 Est. Cost $29.33 Unrealized —

KRC KILROY RLTY CORP 0.1%

Value $263K Shares 7,045 Est. Cost $38.81 Unrealized —

DPZ DOMINOS PIZZA INC 0.1%

Value $255K Shares 612 Est. Cost $415.46 Unrealized -3.5%

BF/B BROWN FORMAN CORP 0.1%

Value $253K Shares 9,726 Est. Cost $28.59 Unrealized -2.2%

ZG ZILLOW GROUP INC 0.1%

Value $221K Shares 3,245 Est. Cost $53.29 Unrealized +9.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WMT	WALMART INC	85,284	$9.501M	3.6%	$99.50	+22.7%	—	931142103
COST	COSTCO WHSL CORP NEW	8,604	$7.42M	2.8%	$955.93	+0.8%	—	22160K105
PG	PROCTER AND GAMBLE CO	45,571	$6.531M	2.5%	$154.74	-1.9%	—	742718109
KO	COCA COLA CO	75,459	$5.275M	2.0%	$67.94	+10.0%	—	191216100
PM	PHILIP MORRIS INTL INC	30,412	$4.878M	1.9%	$164.94	+6.7%	—	718172109
PEP	PEPSICO INC	26,872	$3.857M	1.5%	$140.43	+10.2%	—	713448108
CL	COLGATE PALMOLIVE CO	45,267	$3.577M	1.4%	$84.06	+5.6%	—	194162103
MO	ALTRIA GROUP INC	57,690	$3.326M	1.3%	$61.42	+2.6%	—	02209S103
MDLZ	MONDELEZ INTL INC	61,229	$3.296M	1.3%	$62.95	-7.6%	—	609207105
MNST	MONSTER BEVERAGE CORP NEW	40,039	$3.07M	1.2%	$63.01	+28.0%	—	61174X109
TGT	TARGET CORP	25,577	$2.5M	1.0%	$96.46	+13.2%	—	87612E106
KR	KROGER CO	34,423	$2.151M	0.8%	$68.87	-6.2%	—	501044101
KDP	KEURIG DR PEPPER INC	76,682	$2.148M	0.8%	$30.62	-7.5%	—	49271V100
SYY	SYSCO CORP	27,073	$1.995M	0.8%	$78.70	+4.5%	—	871829107
KMB	KIMBERLY-CLARK CORP	18,774	$1.894M	0.7%	$125.67	-18.0%	—	494368103
KVUE	KENVUE INC	108,691	$1.875M	0.7%	$19.60	-9.9%	—	49177J102
DG	DOLLAR GEN CORP NEW	12,539	$1.665M	0.6%	$109.08	+35.4%	—	256677105
ADM	ARCHER DANIELS MIDLAND CO	27,336	$1.572M	0.6%	$57.87	+13.4%	—	039483102
HSY	HERSHEY CO	8,416	$1.532M	0.6%	$179.77	+13.9%	—	427866108
EL	LAUDER ESTEE COS INC	14,055	$1.472M	0.6%	$89.31	+25.3%	—	518439104
GIS	GENERAL MLS INC	30,516	$1.419M	0.5%	$49.39	-7.9%	—	370334104
DLTR	DOLLAR TREE INC	11,218	$1.38M	0.5%	$107.02	+20.0%	—	256746108
KHC	KRAFT HEINZ CO	48,915	$1.186M	0.5%	$26.39	-9.4%	—	500754106
STZ	CONSTELLATION BRANDS INC	8,231	$1.136M	0.4%	$157.52	-1.0%	—	21036P108
CHD	CHURCH & DWIGHT CO INC	13,463	$1.129M	0.4%	$92.91	+2.0%	—	171340102
TSN	TYSON FOODS INC	16,613	$974K	0.4%	$54.42	+14.4%	—	902494103
MKC	MCCORMICK & CO INC	13,954	$950K	0.4%	$68.90	-3.2%	—	579780206
BG	BUNGE GLOBAL SA	7,743	$690K	0.3%	$80.40	+39.4%	—	H11356104
CLX	CLOROX CO DEL	6,749	$681K	0.3%	$121.60	-5.9%	—	189054109
SJM	SMUCKER J M CO	6,349	$621K	0.2%	$106.70	-2.4%	—	832696405
CAG	CONAGRA BRANDS INC	29,115	$504K	0.2%	$18.60	-3.1%	—	205887102
TAP	MOLSON COORS BEVERAGE CO	10,357	$483K	0.2%	$48.35	+2.3%	—	60871R209
HRL	HORMEL FOODS CORP	18,117	$429K	0.2%	$26.98	-10.1%	—	440452100
CPB	THE CAMPBELLS COMPANY	12,341	$344K	0.1%	$31.77	-14.1%	—	134429109
LW	LAMB WESTON HLDGS INC	7,704	$323K	0.1%	$54.38	-16.0%	—	513272104
CUZ	COUSINS PPTYS INC	10,866	$280K	0.1%	$29.33	—	—	222795502
KRC	KILROY RLTY CORP	7,045	$263K	0.1%	$38.81	—	—	49427F108
DPZ	DOMINOS PIZZA INC	612	$255K	0.1%	$415.46	-3.5%	—	25754A201
BF/B	BROWN FORMAN CORP	9,726	$253K	0.1%	$28.59	-2.2%	—	115637209
ZG	ZILLOW GROUP INC	3,245	$221K	0.1%	$53.29	+9.3%	—	98954M101

Decreased Positions (120)

TSLA TESLA INC 4.7%

Value $12.32M (-29.8%) Shares 33,140 (-15.0%) Est. Cost $443.29 Unrealized -3.9%

AMZN AMAZON COM INC 5.6%

Value $14.85M (-21.0%) Shares 71,282 (-12.5%) Est. Cost $228.79 Unrealized -0.9%

WBD WARNER BROS DISCOVERY INC 1.1%

Value $2.928M (-52.7%) Shares 106,640 (-50.3%) Est. Cost $10.11 Unrealized +179.4%

GOOGL ALPHABET INC 2.6%

Value $6.831M (-27.0%) Shares 23,755 (-20.5%) Est. Cost $123.53 Unrealized +161.7%

GOOG ALPHABET INC 2.1%

Value $5.402M (-27.9%) Shares 18,830 (-21.1%) Est. Cost $123.79 Unrealized +161.5%

OMC OMNICOM GROUP INC 0.8%

Value $2.207M (-41.3%) Shares 29,303 (-37.0%) Est. Cost $77.95 Unrealized -1.8%

TTD THE TRADE DESK INC 0.3%

Value $891K (-62.9%) Shares 39,286 (-38.0%) Est. Cost $46.39 Unrealized -32.7%

PLD PROLOGIS INC. 2.3%

Value $6.018M (-18.3%) Shares 45,532 (-21.1%) Est. Cost $117.45 Unrealized +9.9%

TTWO TAKE-TWO INTERACTIVE SOFTWAR 0.9%

Value $2.477M (-34.4%) Shares 12,541 (-14.9%) Est. Cost $148.82 Unrealized +51.2%

WELL WELLTOWER INC 2.4%

Value $6.399M (-16.8%) Shares 32,367 (-21.9%) Est. Cost $132.26 Unrealized +41.3%

BKNG BOOKING HOLDINGS INC 0.9%

Value $2.303M (-33.2%) Shares 547 (-15.1%) Est. Cost $5137.84 Unrealized -6.9%

FOXA FOX CORP 0.4%

Value $1.148M (-48.9%) Shares 19,663 (-36.0%) Est. Cost $37.95 Unrealized +77.1%

DIS DISNEY WALT CO 1.1%

Value $2.778M (-27.8%) Shares 28,828 (-14.8%) Est. Cost $93.36 Unrealized +17.2%

CHTR CHARTER COMMUNICATIONS INC 0.7%

Value $1.764M (-37.7%) Shares 8,173 (-39.7%) Est. Cost $316.89 Unrealized -32.6%

LYV LIVE NATION ENTERTAINMENT IN 0.8%

Value $2.205M (-32.5%) Shares 14,457 (-36.9%) Est. Cost $100.76 Unrealized +47.2%

CBRE CBRE GROUP INC 0.8%

Value $2.115M (-31.8%) Shares 15,614 (-19.0%) Est. Cost $113.24 Unrealized +42.5%

CSGP COSTAR GROUP INC 0.3%

Value $891K (-51.8%) Shares 22,085 (-19.6%) Est. Cost $76.37 Unrealized -25.5%

HD HOME DEPOT INC 1.5%

Value $3.901M (-18.6%) Shares 11,860 (-14.8%) Est. Cost $364.59 Unrealized +3.4%

SPG SIMON PPTY GROUP INC NEW 1.1%

Value $2.88M (-23.2%) Shares 15,439 (-23.8%) Est. Cost $150.64 Unrealized +22.1%

TKO TKO GROUP HOLDINGS INC 0.4%

Value $1.18M (-42.3%) Shares 5,853 (-40.2%) Est. Cost $166.91 Unrealized +23.2%

EA ELECTRONIC ARTS INC 1.2%

Value $3.159M (-19.5%) Shares 15,493 (-19.3%) Est. Cost $131.40 Unrealized +54.1%

AMT AMERICAN TOWER CORP 1.1%

Value $2.864M (-20.6%) Shares 16,594 (-19.2%) Est. Cost $210.44 Unrealized -16.9%

DASH DOORDASH INC 0.4%

Value $986K (-41.8%) Shares 6,566 (-12.2%) Est. Cost $234.56 Unrealized -16.2%

FOX FOX CORP 0.3%

Value $700K (-49.2%) Shares 13,191 (-37.9%) Est. Cost $38.19 Unrealized +59.1%

CCI CROWN CASTLE INC 0.7%

Value $1.829M (-26.7%) Shares 22,494 (-19.9%) Est. Cost $101.43 Unrealized -12.6%

NWSA NEWS CORP NEW 0.3%

Value $902K (-37.9%) Shares 36,191 (-34.9%) Est. Cost $23.78 Unrealized +5.8%

AVB AVALONBAY CMNTYS INC 0.5%

Value $1.198M (-28.2%) Shares 7,331 (-20.3%) Est. Cost $203.58 Unrealized -11.3%

LOW LOWES COS INC 0.8%

Value $2.232M (-17.3%) Shares 9,446 (-15.6%) Est. Cost $239.83 Unrealized +13.2%

MTCH MATCH GROUP INC NEW 0.2%

Value $652K (-41.3%) Shares 21,218 (-38.3%) Est. Cost $33.40 Unrealized -6.0%

NKE NIKE INC 0.4%

Value $1.083M (-29.5%) Shares 20,503 (-14.9%) Est. Cost $64.91 Unrealized -1.4%

O REALTY INCOME CORP 1.1%

Value $2.875M (-13.6%) Shares 46,991 (-20.4%) Est. Cost $55.19 Unrealized +3.8%

PSA PUBLIC STORAGE OPER CO 0.8%

Value $2.22M (-16.3%) Shares 8,195 (-19.9%) Est. Cost $303.99 Unrealized -15.0%

VICI VICI PPTYS INC 0.6%

Value $1.512M (-22.1%) Shares 55,361 (-19.8%) Est. Cost $29.34 Unrealized -4.1%

TJX TJX COS INC NEW 1.1%

Value $2.992M (-12.3%) Shares 18,736 (-15.6%) Est. Cost $147.70 Unrealized +4.4%

CMCSA COMCAST CORP NEW 1.2%

Value $3.283M (-11.2%) Shares 114,349 (-7.6%) Est. Cost $35.45 Unrealized -15.9%

MCD MCDONALDS CORP 1.3%

Value $3.287M (-11.1%) Shares 10,576 (-12.6%) Est. Cost $305.09 Unrealized +4.0%

Z ZILLOW GROUP INC 0.1%

Value $377K (-51.2%) Shares 9,110 (-19.6%) Est. Cost $58.13 Unrealized +1.1%

SBAC SBA COMMUNICATIONS CORP 0.4%

Value $952K (-29.1%) Shares 5,530 (-20.4%) Est. Cost $215.04 Unrealized -10.5%

GM GENERAL MTRS CO 0.5%

Value $1.196M (-24.2%) Shares 16,057 (-17.3%) Est. Cost $70.40 Unrealized +16.8%

EQIX EQUINIX INC 1.3%

Value $3.293M (-9.9%) Shares 3,359 (-29.6%) Est. Cost $791.92 Unrealized -3.5%

EQR EQUITY RESIDENTIAL 0.4%

Value $1.06M (-25.2%) Shares 17,922 (-20.3%) Est. Cost $67.46 Unrealized -8.0%

EXR EXTRA SPACE STORAGE INC 0.6%

Value $1.445M (-19.3%) Shares 11,022 (-19.9%) Est. Cost $156.35 Unrealized -16.2%

PSKY PARAMOUNT SKYDANCE CORP 0.1%

Value $310K (-50.6%) Shares 34,372 (-26.6%) Est. Cost $14.72 Unrealized -22.8%

MAA MID-AMER APT CMNTYS INC 0.3%

Value $740K (-29.7%) Shares 6,060 (-20.1%) Est. Cost $144.25 Unrealized -3.5%

VTR VENTAS INC 0.8%

Value $1.985M (-12.8%) Shares 24,278 (-17.5%) Est. Cost $57.90 Unrealized +33.6%

T AT&T INC 1.4%

Value $3.728M (+8.4%) Shares 128,601 (-7.1%) Est. Cost $15.93 Unrealized +61.6%

INVH INVITATION HOMES INC 0.3%

Value $729K (-28.2%) Shares 29,317 (-19.7%) Est. Cost $33.47 Unrealized -17.2%

ESS ESSEX PPTY TR INC 0.3%

Value $808K (-26.1%) Shares 3,337 (-20.1%) Est. Cost $273.60 Unrealized -6.1%

VZ VERIZON COMMUNICATIONS INC 1.5%

Value $3.94M (+7.7%) Shares 78,485 (-12.6%) Est. Cost $32.17 Unrealized +36.2%

CMG CHIPOTLE MEXICAN GRILL INC 0.3%

Value $754K (-26.5%) Shares 23,550 (-15.0%) Est. Cost $36.17 Unrealized +7.2%

JLL JONES LANG LASALLE INC 0.3%

Value $813K (-24.7%) Shares 2,671 (-16.8%) Est. Cost $246.41 Unrealized +36.4%

F FORD MTR CO 0.3%

Value $797K (-24.3%) Shares 69,031 (-14.0%) Est. Cost $12.83 Unrealized +7.1%

BXP BXP INC 0.2%

Value $396K (-38.5%) Shares 7,625 (-20.0%) Est. Cost $66.81 Unrealized +1.5%

ABNB AIRBNB INC 0.4%

Value $949K (-20.7%) Shares 7,519 (-14.7%) Est. Cost $124.53 Unrealized +3.9%

RCL ROYAL CARIBBEAN GROUP 0.4%

Value $1.15M (-16.9%) Shares 4,178 (-15.8%) Est. Cost $281.58 Unrealized +9.7%

CPT CAMDEN PPTY TR 0.2%

Value $540K (-29.0%) Shares 5,534 (-20.0%) Est. Cost $111.41 Unrealized -1.1%

ORLY OREILLY AUTOMOTIVE INC 0.5%

Value $1.342M (-14.0%) Shares 14,538 (-15.0%) Est. Cost $97.70 Unrealized -2.8%

NWS NEWS CORP NEW 0.1%

Value $314K (-40.5%) Shares 11,004 (-38.2%) Est. Cost $25.67 Unrealized +12.0%

AMH AMERICAN HOMES 4 RENT 0.2%

Value $471K (-30.3%) Shares 16,884 (-19.8%) Est. Cost $37.71 Unrealized —

REXR REXFORD INDL RLTY INC 0.1%

Value $390K (-34.3%) Shares 11,910 (-22.3%) Est. Cost $48.39 Unrealized —

EXPE EXPEDIA GROUP INC 0.2%

Value $517K (-27.1%) Shares 2,239 (-10.6%) Est. Cost $246.88 Unrealized +2.7%

UDR UDR INC 0.2%

Value $525K (-26.7%) Shares 15,546 (-20.4%) Est. Cost $40.29 Unrealized -8.9%

CCL CARNIVAL CORP 0.2%

Value $460K (-29.4%) Shares 17,789 (-16.7%) Est. Cost $27.88 Unrealized +11.3%

SBUX STARBUCKS CORP 0.7%

Value $1.733M (-9.7%) Shares 19,348 (-15.2%) Est. Cost $84.06 Unrealized +11.4%

SUI SUN CMNTYS INC 0.3%

Value $758K (-19.6%) Shares 6,017 (-20.9%) Est. Cost $134.52 Unrealized —

NLY ANNALY CAPITAL MANAGEMENT IN 0.3%

Value $747K (-19.8%) Shares 35,324 (-15.2%) Est. Cost $20.21 Unrealized —

WY WEYERHAEUSER CO 0.3%

Value $920K (-16.6%) Shares 37,643 (-19.1%) Est. Cost $29.03 Unrealized -18.0%

DLR DIGITAL RLTY TR INC 1.1%

Value $3.02M (-5.5%) Shares 16,759 (-18.9%) Est. Cost $148.99 Unrealized +4.1%

AZO AUTOZONE INC 0.4%

Value $973K (-15.4%) Shares 288 (-15.0%) Est. Cost $3777.86 Unrealized -4.0%

LULU LULULEMON ATHLETICA INC 0.1%

Value $325K (-35.0%) Shares 2,123 (-11.8%) Est. Cost $181.15 Unrealized +4.2%

OHI OMEGA HEALTHCARE INVS INC 0.3%

Value $671K (-20.6%) Shares 15,313 (-19.6%) Est. Cost $40.67 Unrealized —

GLPI GAMING & LEISURE P 0.2%

Value $651K (-20.6%) Shares 14,675 (-20.0%) Est. Cost $50.69 Unrealized —

AGNC AGNC INVT CORP 0.2%

Value $557K (-22.9%) Shares 55,560 (-17.6%) Est. Cost $10.28 Unrealized —

MAR MARRIOTT INTL INC NEW 0.5%

Value $1.254M (-11.6%) Shares 3,835 (-16.1%) Est. Cost $285.32 Unrealized +15.9%

DHI D R HORTON INC 0.3%

Value $670K (-19.0%) Shares 4,885 (-15.0%) Est. Cost $152.01 Unrealized +2.6%

ULTA ULTA BEAUTY INC 0.2%

Value $434K (-26.1%) Shares 831 (-14.5%) Est. Cost $549.70 Unrealized +21.9%

HLT HILTON WORLDWIDE HLDGS INC 0.5%

Value $1.221M (-11.0%) Shares 4,016 (-15.9%) Est. Cost $272.20 Unrealized +12.1%

LAMR LAMAR ADVERTISING CO 0.2%

Value $569K (-19.9%) Shares 4,494 (-20.0%) Est. Cost $132.63 Unrealized —

WPC WP CAREY INC 0.3%

Value $772K (-15.3%) Shares 11,357 (-19.8%) Est. Cost $62.67 Unrealized —

DOC HEALTHPEAK PROPERTIES INC 0.2%

Value $589K (-18.4%) Shares 35,846 (-20.1%) Est. Cost $19.57 Unrealized -17.2%

ELS EQUITY LIFESTYLE PROPERTIES 0.2%

Value $627K (-17.3%) Shares 10,049 (-19.7%) Est. Cost $70.07 Unrealized —

VNO VORNADO RLTY TR 0.1%

Value $218K (-37.1%) Shares 8,393 (-19.5%) Est. Cost $39.45 Unrealized —

LEN LENNAR CORP 0.1%

Value $356K (-26.2%) Shares 4,097 (-12.6%) Est. Cost $120.70 Unrealized -5.2%

ARE ALEXANDRIA REAL ESTATE EQ IN 0.1%

Value $373K (-23.5%) Shares 8,042 (-19.4%) Est. Cost $105.37 Unrealized -53.5%

TSCO TRACTOR SUPPLY CO 0.2%

Value $449K (-20.3%) Shares 9,908 (-12.0%) Est. Cost $53.71 Unrealized -1.8%

LVS LAS VEGAS SANDS CORP 0.1%

Value $332K (-24.5%) Shares 6,162 (-8.7%) Est. Cost $61.19 Unrealized -4.6%

RITM RITHM CAPITAL CORP 0.1%

Value $272K (-27.4%) Shares 28,704 (-16.5%) Est. Cost $11.30 Unrealized —

EGP EASTGROUP PPTYS INC 0.2%

Value $510K (-16.7%) Shares 2,758 (-19.8%) Est. Cost $184.24 Unrealized —

KIM KIMCO REALTY CORP 0.3%

Value $788K (-11.3%) Shares 35,071 (-20.0%) Est. Cost $20.71 Unrealized -3.1%

CUBE CUBESMART 0.2%

Value $434K (-18.4%) Shares 11,853 (-19.8%) Est. Cost $52.21 Unrealized —

HST HOST HOTELS & RESORTS INC 0.2%

Value $637K (-13.3%) Shares 33,235 (-19.8%) Est. Cost $15.95 Unrealized +13.9%

STAG STAG INDUSTRIAL INC 0.1%

Value $349K (-21.8%) Shares 9,665 (-20.3%) Est. Cost $38.69 Unrealized —

YUM YUM BRANDS INC 0.3%

Value $771K (-11.2%) Shares 4,961 (-13.6%) Est. Cost $147.67 Unrealized +6.6%

FR FIRST INDL RLTY TR INC 0.2%

Value $396K (-19.2%) Shares 6,850 (-20.0%) Est. Cost $55.68 Unrealized —

STWD STARWOOD PPTY TR INC 0.1%

Value $311K (-22.7%) Shares 18,060 (-19.2%) Est. Cost $20.18 Unrealized —

EBAY EBAY INC. 0.3%

Value $741K (-10.8%) Shares 8,138 (-14.6%) Est. Cost $86.37 Unrealized +3.4%

REG REGENCY CTRS CORP 0.2%

Value $644K (-11.7%) Shares 8,511 (-19.5%) Est. Cost $65.83 Unrealized +3.2%

GPC GENUINE PARTS CO 0.1%

Value $299K (-21.5%) Shares 2,823 (-8.7%) Est. Cost $128.69 Unrealized +3.8%

APTV APTIV PLC 0.1%

Value $244K (-24.8%) Shares 3,518 (-17.6%) Est. Cost $80.28 Unrealized +0.8%

FRT FEDERAL RLTY INVT TR NEW 0.2%

Value $432K (-15.5%) Shares 4,070 (-19.8%) Est. Cost $103.42 Unrealized -4.2%

HR HEALTHCARE RLTY TR 0.1%

Value $307K (-20.3%) Shares 18,085 (-20.5%) Est. Cost $18.10 Unrealized —

NVR NVR INC 0.1%

Value $369K (-17.0%) Shares 56 (-8.2%) Est. Cost $7476.40 Unrealized +2.0%

MRP MILLROSE PPTYS INC 0.1%

Value $224K (-24.7%) Shares 8,006 (-19.6%) Est. Cost $29.07 Unrealized —

NNN NNN REIT INC 0.2%

Value $414K (-14.5%) Shares 9,840 (-19.3%) Est. Cost $47.73 Unrealized —

COLD AMERICOLD REALTY TRUST INC 0.1%

Value $169K (-28.5%) Shares 14,706 (-19.7%) Est. Cost $25.66 Unrealized —

PHM PULTE GROUP INC 0.2%

Value $431K (-13.5%) Shares 3,665 (-13.7%) Est. Cost $122.44 Unrealized +7.3%

ADC AGREE RLTY CORP 0.2%

Value $448K (-12.8%) Shares 5,948 (-16.7%) Est. Cost $74.81 Unrealized —

WSM WILLIAMS SONOMA INC 0.2%

Value $415K (-13.5%) Shares 2,274 (-15.3%) Est. Cost $187.24 Unrealized +11.0%

BRX BRIXMOR PPTY GROUP INC 0.2%

Value $457K (-12.1%) Shares 15,869 (-19.9%) Est. Cost $27.75 Unrealized —

DECK DECKERS OUTDOOR CORP 0.1%

Value $239K (-20.7%) Shares 2,385 (-17.9%) Est. Cost $93.73 Unrealized +16.9%

RL RALPH LAUREN CORP 0.1%

Value $221K (-17.6%) Shares 643 (-15.3%) Est. Cost $340.01 Unrealized +6.8%

TMUS T-MOBILE US INC 1.3%

Value $3.318M (+1.4%) Shares 15,796 (-2.0%) Est. Cost $147.18 Unrealized +36.1%

TPR TAPESTRY INC 0.2%

Value $475K (-8.9%) Shares 3,366 (-17.5%) Est. Cost $114.03 Unrealized +22.4%

SBRA SABRA HEALTH CARE REIT INC 0.1%

Value $249K (-15.4%) Shares 12,938 (-16.7%) Est. Cost $18.62 Unrealized —

DRI DARDEN RESTAURANTS INC 0.2%

Value $435K (-7.7%) Shares 2,219 (-13.4%) Est. Cost $182.09 Unrealized +13.9%

ROST ROSS STORES INC 0.5%

Value $1.23M (+2.3%) Shares 5,680 (-14.9%) Est. Cost $166.60 Unrealized +15.5%

GRMN GARMIN LTD 0.2%

Value $623K (-4.3%) Shares 2,686 (-16.3%) Est. Cost $216.69 Unrealized -1.0%

BBY BEST BUY INC 0.1%

Value $273K (-8.5%) Shares 4,259 (-4.6%) Est. Cost $75.46 Unrealized -11.3%

IRM IRON MTN INC DEL 0.6%

Value $1.561M (-1.4%) Shares 15,281 (-19.9%) Est. Cost $101.24 Unrealized -17.8%

HAS HASBRO INC 0.1%

Value $205K (-4.6%) Shares 2,193 (-16.5%) Est. Cost $78.03 Unrealized +18.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSLA	TESLA INC	33,140 (-15.0%)	$12.32M (-29.8%)	4.7%	$443.29	-3.9%	COM	88160R101
AMZN	AMAZON COM INC	71,282 (-12.5%)	$14.85M (-21.0%)	5.6%	$228.79	-0.9%	COM	023135106
WBD	WARNER BROS DISCOVERY INC	106,640 (-50.3%)	$2.928M (-52.7%)	1.1%	$10.11	+179.4%	COM SER A	934423104
GOOGL	ALPHABET INC	23,755 (-20.5%)	$6.831M (-27.0%)	2.6%	$123.53	+161.7%	CAP STK CL A	02079K305
GOOG	ALPHABET INC	18,830 (-21.1%)	$5.402M (-27.9%)	2.1%	$123.79	+161.5%	CAP STK CL C	02079K107
OMC	OMNICOM GROUP INC	29,303 (-37.0%)	$2.207M (-41.3%)	0.8%	$77.95	-1.8%	COM	681919106
TTD	THE TRADE DESK INC	39,286 (-38.0%)	$891K (-62.9%)	0.3%	$46.39	-32.7%	COM CL A	88339J105
PLD	PROLOGIS INC.	45,532 (-21.1%)	$6.018M (-18.3%)	2.3%	$117.45	+9.9%	COM	74340W103
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	12,541 (-14.9%)	$2.477M (-34.4%)	0.9%	$148.82	+51.2%	COM	874054109
WELL	WELLTOWER INC	32,367 (-21.9%)	$6.399M (-16.8%)	2.4%	$132.26	+41.3%	COM	95040Q104
BKNG	BOOKING HOLDINGS INC	547 (-15.1%)	$2.303M (-33.2%)	0.9%	$5137.84	-6.9%	COM	09857L108
FOXA	FOX CORP	19,663 (-36.0%)	$1.148M (-48.9%)	0.4%	$37.95	+77.1%	CL A COM	35137L105
DIS	DISNEY WALT CO	28,828 (-14.8%)	$2.778M (-27.8%)	1.1%	$93.36	+17.2%	COM	254687106
CHTR	CHARTER COMMUNICATIONS INC	8,173 (-39.7%)	$1.764M (-37.7%)	0.7%	$316.89	-32.6%	CL A	16119P108
LYV	LIVE NATION ENTERTAINMENT IN	14,457 (-36.9%)	$2.205M (-32.5%)	0.8%	$100.76	+47.2%	COM	538034109
CBRE	CBRE GROUP INC	15,614 (-19.0%)	$2.115M (-31.8%)	0.8%	$113.24	+42.5%	CL A	12504L109
CSGP	COSTAR GROUP INC	22,085 (-19.6%)	$891K (-51.8%)	0.3%	$76.37	-25.5%	COM	22160N109
HD	HOME DEPOT INC	11,860 (-14.8%)	$3.901M (-18.6%)	1.5%	$364.59	+3.4%	COM	437076102
SPG	SIMON PPTY GROUP INC NEW	15,439 (-23.8%)	$2.88M (-23.2%)	1.1%	$150.64	+22.1%	COM	828806109
TKO	TKO GROUP HOLDINGS INC	5,853 (-40.2%)	$1.18M (-42.3%)	0.4%	$166.91	+23.2%	CL A	87256C101
EA	ELECTRONIC ARTS INC	15,493 (-19.3%)	$3.159M (-19.5%)	1.2%	$131.40	+54.1%	COM	285512109
AMT	AMERICAN TOWER CORP	16,594 (-19.2%)	$2.864M (-20.6%)	1.1%	$210.44	-16.9%	COM	03027X100
DASH	DOORDASH INC	6,566 (-12.2%)	$986K (-41.8%)	0.4%	$234.56	-16.2%	CL A	25809K105
FOX	FOX CORP	13,191 (-37.9%)	$700K (-49.2%)	0.3%	$38.19	+59.1%	CL B COM	35137L204
CCI	CROWN CASTLE INC	22,494 (-19.9%)	$1.829M (-26.7%)	0.7%	$101.43	-12.6%	COM	22822V101
NWSA	NEWS CORP NEW	36,191 (-34.9%)	$902K (-37.9%)	0.3%	$23.78	+5.8%	CL A	65249B109
AVB	AVALONBAY CMNTYS INC	7,331 (-20.3%)	$1.198M (-28.2%)	0.5%	$203.58	-11.3%	COM	053484101
LOW	LOWES COS INC	9,446 (-15.6%)	$2.232M (-17.3%)	0.8%	$239.83	+13.2%	COM	548661107
MTCH	MATCH GROUP INC NEW	21,218 (-38.3%)	$652K (-41.3%)	0.2%	$33.40	-6.0%	COM	57667L107
NKE	NIKE INC	20,503 (-14.9%)	$1.083M (-29.5%)	0.4%	$64.91	-1.4%	CL B	654106103
O	REALTY INCOME CORP	46,991 (-20.4%)	$2.875M (-13.6%)	1.1%	$55.19	+3.8%	COM	756109104
PSA	PUBLIC STORAGE OPER CO	8,195 (-19.9%)	$2.22M (-16.3%)	0.8%	$303.99	-15.0%	COM	74460D109
VICI	VICI PPTYS INC	55,361 (-19.8%)	$1.512M (-22.1%)	0.6%	$29.34	-4.1%	COM	925652109
TJX	TJX COS INC NEW	18,736 (-15.6%)	$2.992M (-12.3%)	1.1%	$147.70	+4.4%	COM	872540109
CMCSA	COMCAST CORP NEW	114,349 (-7.6%)	$3.283M (-11.2%)	1.2%	$35.45	-15.9%	CL A	20030N101
MCD	MCDONALDS CORP	10,576 (-12.6%)	$3.287M (-11.1%)	1.3%	$305.09	+4.0%	COM	580135101
Z	ZILLOW GROUP INC	9,110 (-19.6%)	$377K (-51.2%)	0.1%	$58.13	+1.1%	CL C CAP STK	98954M200
SBAC	SBA COMMUNICATIONS CORP	5,530 (-20.4%)	$952K (-29.1%)	0.4%	$215.04	-10.5%	CL A	78410G104
GM	GENERAL MTRS CO	16,057 (-17.3%)	$1.196M (-24.2%)	0.5%	$70.40	+16.8%	COM	37045V100
EQIX	EQUINIX INC	3,359 (-29.6%)	$3.293M (-9.9%)	1.3%	$791.92	-3.5%	COM	29444U700
EQR	EQUITY RESIDENTIAL	17,922 (-20.3%)	$1.06M (-25.2%)	0.4%	$67.46	-8.0%	SH BEN INT	29476L107
EXR	EXTRA SPACE STORAGE INC	11,022 (-19.9%)	$1.445M (-19.3%)	0.6%	$156.35	-16.2%	COM	30225T102
PSKY	PARAMOUNT SKYDANCE CORP	34,372 (-26.6%)	$310K (-50.6%)	0.1%	$14.72	-22.8%	COM CL B	69932A204
MAA	MID-AMER APT CMNTYS INC	6,060 (-20.1%)	$740K (-29.7%)	0.3%	$144.25	-3.5%	COM	59522J103
VTR	VENTAS INC	24,278 (-17.5%)	$1.985M (-12.8%)	0.8%	$57.90	+33.6%	COM	92276F100
T	AT&T INC	128,601 (-7.1%)	$3.728M (+8.4%)	1.4%	$15.93	+61.6%	COM	00206R102
INVH	INVITATION HOMES INC	29,317 (-19.7%)	$729K (-28.2%)	0.3%	$33.47	-17.2%	COM	46187W107
ESS	ESSEX PPTY TR INC	3,337 (-20.1%)	$808K (-26.1%)	0.3%	$273.60	-6.1%	COM	297178105
VZ	VERIZON COMMUNICATIONS INC	78,485 (-12.6%)	$3.94M (+7.7%)	1.5%	$32.17	+36.2%	COM	92343V104
CMG	CHIPOTLE MEXICAN GRILL INC	23,550 (-15.0%)	$754K (-26.5%)	0.3%	$36.17	+7.2%	COM	169656105
JLL	JONES LANG LASALLE INC	2,671 (-16.8%)	$813K (-24.7%)	0.3%	$246.41	+36.4%	COM	48020Q107
F	FORD MTR CO	69,031 (-14.0%)	$797K (-24.3%)	0.3%	$12.83	+7.1%	COM	345370860
BXP	BXP INC	7,625 (-20.0%)	$396K (-38.5%)	0.2%	$66.81	+1.5%	COM	101121101
ABNB	AIRBNB INC	7,519 (-14.7%)	$949K (-20.7%)	0.4%	$124.53	+3.9%	COM CL A	009066101
RCL	ROYAL CARIBBEAN GROUP	4,178 (-15.8%)	$1.15M (-16.9%)	0.4%	$281.58	+9.7%	COM	V7780T103
CPT	CAMDEN PPTY TR	5,534 (-20.0%)	$540K (-29.0%)	0.2%	$111.41	-1.1%	SH BEN INT	133131102
ORLY	OREILLY AUTOMOTIVE INC	14,538 (-15.0%)	$1.342M (-14.0%)	0.5%	$97.70	-2.8%	COM	67103H107
NWS	NEWS CORP NEW	11,004 (-38.2%)	$314K (-40.5%)	0.1%	$25.67	+12.0%	CL B	65249B208
AMH	AMERICAN HOMES 4 RENT	16,884 (-19.8%)	$471K (-30.3%)	0.2%	$37.71	—	CL A	02665T306
REXR	REXFORD INDL RLTY INC	11,910 (-22.3%)	$390K (-34.3%)	0.1%	$48.39	—	COM	76169C100
EXPE	EXPEDIA GROUP INC	2,239 (-10.6%)	$517K (-27.1%)	0.2%	$246.88	+2.7%	COM NEW	30212P303
UDR	UDR INC	15,546 (-20.4%)	$525K (-26.7%)	0.2%	$40.29	-8.9%	COM	902653104
CCL	CARNIVAL CORP	17,789 (-16.7%)	$460K (-29.4%)	0.2%	$27.88	+11.3%	COMMON STOCK	143658300
SBUX	STARBUCKS CORP	19,348 (-15.2%)	$1.733M (-9.7%)	0.7%	$84.06	+11.4%	COM	855244109
SUI	SUN CMNTYS INC	6,017 (-20.9%)	$758K (-19.6%)	0.3%	$134.52	—	COM	866674104
NLY	ANNALY CAPITAL MANAGEMENT IN	35,324 (-15.2%)	$747K (-19.8%)	0.3%	$20.21	—	COM NEW	035710839
WY	WEYERHAEUSER CO	37,643 (-19.1%)	$920K (-16.6%)	0.3%	$29.03	-18.0%	COM NEW	962166104
DLR	DIGITAL RLTY TR INC	16,759 (-18.9%)	$3.02M (-5.5%)	1.1%	$148.99	+4.1%	COM	253868103
AZO	AUTOZONE INC	288 (-15.0%)	$973K (-15.4%)	0.4%	$3777.86	-4.0%	COM	053332102
LULU	LULULEMON ATHLETICA INC	2,123 (-11.8%)	$325K (-35.0%)	0.1%	$181.15	+4.2%	COM	550021109
OHI	OMEGA HEALTHCARE INVS INC	15,313 (-19.6%)	$671K (-20.6%)	0.3%	$40.67	—	COM	681936100
GLPI	GAMING & LEISURE P	14,675 (-20.0%)	$651K (-20.6%)	0.2%	$50.69	—	COM	36467J108
AGNC	AGNC INVT CORP	55,560 (-17.6%)	$557K (-22.9%)	0.2%	$10.28	—	COM	00123Q104
MAR	MARRIOTT INTL INC NEW	3,835 (-16.1%)	$1.254M (-11.6%)	0.5%	$285.32	+15.9%	CL A	571903202
DHI	D R HORTON INC	4,885 (-15.0%)	$670K (-19.0%)	0.3%	$152.01	+2.6%	COM	23331A109
ULTA	ULTA BEAUTY INC	831 (-14.5%)	$434K (-26.1%)	0.2%	$549.70	+21.9%	COM	90384S303
HLT	HILTON WORLDWIDE HLDGS INC	4,016 (-15.9%)	$1.221M (-11.0%)	0.5%	$272.20	+12.1%	COM	43300A203
LAMR	LAMAR ADVERTISING CO	4,494 (-20.0%)	$569K (-19.9%)	0.2%	$132.63	—	CL A	512816109
WPC	WP CAREY INC	11,357 (-19.8%)	$772K (-15.3%)	0.3%	$62.67	—	COM	92936U109
DOC	HEALTHPEAK PROPERTIES INC	35,846 (-20.1%)	$589K (-18.4%)	0.2%	$19.57	-17.2%	COM	42250P103
ELS	EQUITY LIFESTYLE PROPERTIES	10,049 (-19.7%)	$627K (-17.3%)	0.2%	$70.07	—	COM	29472R108
VNO	VORNADO RLTY TR	8,393 (-19.5%)	$218K (-37.1%)	0.1%	$39.45	—	SH BEN INT	929042109
LEN	LENNAR CORP	4,097 (-12.6%)	$356K (-26.2%)	0.1%	$120.70	-5.2%	CL A	526057104
ARE	ALEXANDRIA REAL ESTATE EQ IN	8,042 (-19.4%)	$373K (-23.5%)	0.1%	$105.37	-53.5%	COM	015271109
TSCO	TRACTOR SUPPLY CO	9,908 (-12.0%)	$449K (-20.3%)	0.2%	$53.71	-1.8%	COM	892356106
LVS	LAS VEGAS SANDS CORP	6,162 (-8.7%)	$332K (-24.5%)	0.1%	$61.19	-4.6%	COM	517834107
RITM	RITHM CAPITAL CORP	28,704 (-16.5%)	$272K (-27.4%)	0.1%	$11.30	—	COM NEW	64828T201
EGP	EASTGROUP PPTYS INC	2,758 (-19.8%)	$510K (-16.7%)	0.2%	$184.24	—	COM	277276101
KIM	KIMCO REALTY CORP	35,071 (-20.0%)	$788K (-11.3%)	0.3%	$20.71	-3.1%	COM	49446R109
CUBE	CUBESMART	11,853 (-19.8%)	$434K (-18.4%)	0.2%	$52.21	—	COM	229663109
HST	HOST HOTELS & RESORTS INC	33,235 (-19.8%)	$637K (-13.3%)	0.2%	$15.95	+13.9%	COM	44107P104
STAG	STAG INDUSTRIAL INC	9,665 (-20.3%)	$349K (-21.8%)	0.1%	$38.69	—	COM	85254J102
YUM	YUM BRANDS INC	4,961 (-13.6%)	$771K (-11.2%)	0.3%	$147.67	+6.6%	COM	988498101
FR	FIRST INDL RLTY TR INC	6,850 (-20.0%)	$396K (-19.2%)	0.2%	$55.68	—	COM	32054K103
STWD	STARWOOD PPTY TR INC	18,060 (-19.2%)	$311K (-22.7%)	0.1%	$20.18	—	COM	85571B105
EBAY	EBAY INC.	8,138 (-14.6%)	$741K (-10.8%)	0.3%	$86.37	+3.4%	COM	278642103
REG	REGENCY CTRS CORP	8,511 (-19.5%)	$644K (-11.7%)	0.2%	$65.83	+3.2%	COM	758849103
GPC	GENUINE PARTS CO	2,823 (-8.7%)	$299K (-21.5%)	0.1%	$128.69	+3.8%	COM	372460105
APTV	APTIV PLC	3,518 (-17.6%)	$244K (-24.8%)	0.1%	$80.28	+0.8%	COM SHS	G3265R107
FRT	FEDERAL RLTY INVT TR NEW	4,070 (-19.8%)	$432K (-15.5%)	0.2%	$103.42	-4.2%	SH BEN INT NEW	313745101
HR	HEALTHCARE RLTY TR	18,085 (-20.5%)	$307K (-20.3%)	0.1%	$18.10	—	CL A COM	42226K105
NVR	NVR INC	56 (-8.2%)	$369K (-17.0%)	0.1%	$7476.40	+2.0%	COM	62944T105
MRP	MILLROSE PPTYS INC	8,006 (-19.6%)	$224K (-24.7%)	0.1%	$29.07	—	COM CL A	601137102
NNN	NNN REIT INC	9,840 (-19.3%)	$414K (-14.5%)	0.2%	$47.73	—	COM	637417106
COLD	AMERICOLD REALTY TRUST INC	14,706 (-19.7%)	$169K (-28.5%)	0.1%	$25.66	—	COM	03064D108
PHM	PULTE GROUP INC	3,665 (-13.7%)	$431K (-13.5%)	0.2%	$122.44	+7.3%	COM	745867101
ADC	AGREE RLTY CORP	5,948 (-16.7%)	$448K (-12.8%)	0.2%	$74.81	—	COM	008492100
WSM	WILLIAMS SONOMA INC	2,274 (-15.3%)	$415K (-13.5%)	0.2%	$187.24	+11.0%	COM	969904101
BRX	BRIXMOR PPTY GROUP INC	15,869 (-19.9%)	$457K (-12.1%)	0.2%	$27.75	—	COM	11120U105
DECK	DECKERS OUTDOOR CORP	2,385 (-17.9%)	$239K (-20.7%)	0.1%	$93.73	+16.9%	COM	243537107
RL	RALPH LAUREN CORP	643 (-15.3%)	$221K (-17.6%)	0.1%	$340.01	+6.8%	CL A	751212101
TMUS	T-MOBILE US INC	15,796 (-2.0%)	$3.318M (+1.4%)	1.3%	$147.18	+36.1%	COM	872590104
TPR	TAPESTRY INC	3,366 (-17.5%)	$475K (-8.9%)	0.2%	$114.03	+22.4%	COM	876030107
SBRA	SABRA HEALTH CARE REIT INC	12,938 (-16.7%)	$249K (-15.4%)	0.1%	$18.62	—	COM	78573L106
DRI	DARDEN RESTAURANTS INC	2,219 (-13.4%)	$435K (-7.7%)	0.2%	$182.09	+13.9%	COM	237194105
ROST	ROSS STORES INC	5,680 (-14.9%)	$1.23M (+2.3%)	0.5%	$166.60	+15.5%	COM	778296103
GRMN	GARMIN LTD	2,686 (-16.3%)	$623K (-4.3%)	0.2%	$216.69	-1.0%	SHS	H2906T109
BBY	BEST BUY INC	4,259 (-4.6%)	$273K (-8.5%)	0.1%	$75.46	-11.3%	COM	086516101
IRM	IRON MTN INC DEL	15,281 (-19.9%)	$1.561M (-1.4%)	0.6%	$101.24	-17.8%	COM	46284V101
HAS	HASBRO INC	2,193 (-16.5%)	$205K (-4.6%)	0.1%	$78.03	+18.8%	COM	418056107

Unchanged Positions (1)

NFLX NETFLIX INC. 1.5%

Value $3.948M Shares 41,065 Est. Cost $99.91 Unrealized -16.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC.	41,065	$3.948M	1.5%	$99.91	-16.1%	COM	64110L106