Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AAPL	APPLE INC.	260,008	$54.76M	13.2%	$210.62 *	$83.83	+120.8%	COM	037833100
CVX	CHEVRON CORP	113,304	$17.72M	4.3%	$156.42 *	$70.02	+111.9%	COM	166764100
MRK	MERCK & CO., INC.	134,320	$16.63M	4.0%	$123.80	$35.76	+240.4%	COM	58933Y105
JPM	JPMORGAN CHASE & CO.	63,931	$12.93M	3.1%	$202.26 *	$38.96	+385.5%	COM	46625H100
PG	PROCTER & GAMBLE CO	74,809	$12.34M	3.0%	$164.93 *	$56.77	+176.9%	COM	742718109
GOOG	ALPHABET INC. CL C	64,940	$11.91M	2.9%	$183.42 *	$107.21	+57.5%	COM	02079K107
—	IRON MOUNTAIN INC. REIT	130,600	$11.7M	2.8%	$89.62	$31.99	—	COM	46284v101
PM	PHILIP MORRIS INTERNATIONAL-AL	112,106	$11.36M	2.7%	$101.33 *	$49.85	+83.2%	COM	718172109
BRK/A	BERKSHIRE HATHAWAY INC. CL A	18	$11.02M	2.7%	$612222.22	$165023.42	+273.6%	COM	084670108
KO	COCA-COLA CO	172,731	$10.99M	2.6%	$63.65 *	$29.07	+102.6%	COM	191216100
MSFT	MICROSOFT CORPORATION	24,279	$10.85M	2.6%	$446.93 *	$153.22	+172.3%	COM	594918104
NVDA	NVIDIA CORPORATION	81,450	$10.06M	2.4%	$123.54 *	$93.10	+8.5%	COM	67066G104
TGT	TARGET CORP-FRMLY DAYTON HUDSO	58,570	$8.671M	2.1%	$148.05	$62.17	+137.9%	COM	87612E106
BRK/B	BERKSHIRE HATHAWAY INC. CL B	20,518	$8.347M	2.0%	$406.81	$206.19	+98.2%	COM	084670702
—	ABBVIE INC.	43,200	$7.41M	1.8%	$171.53	$71.60	—	COM	00287y109
PEP	PEPSICO	42,209	$6.962M	1.7%	$164.94	$56.00	+189.9%	COM	713448108
HD	HOME DEPOT	19,550	$6.73M	1.6%	$344.25 *	$56.05	+484.4%	COM	437076102
SKT	TANGER INC. REIT	237,050	$6.426M	1.5%	$27.11	$10.85	—	COM	875465106
NKE	NIKE, INC. CL B	78,770	$5.937M	1.4%	$75.37 *	$47.39	+89.3%	COM	654106103
—	ZOETIS INC.	33,864	$5.871M	1.4%	$173.37	$30.88	—	COM	98978v103
L	LOEWS CORP	77,917	$5.824M	1.4%	$74.75	$42.08	+79.2%	COM	540424108
DEO	DIAGEO PLC ADR	44,990	$5.672M	1.4%	$126.07	$113.73	—	COM	25243Q205
DIS	DISNEY WALT CO	55,875	$5.548M	1.3%	$99.29 *	$94.75	+11.4%	COM	254687106
WMT	WALMART INC.	81,000	$5.485M	1.3%	$67.72 *	$44.02	+40.8%	COM	931142103
IBM	INTERNATIONAL BUSINESS MACHINE	31,452	$5.44M	1.3%	$172.96 *	$117.45	+41.2%	COM	459200101
—	GENERAL MOTORS COMPANY	113,540	$5.275M	1.3%	$46.46	$34.85	—	COM	37045v100
KMI	KINDER MORGAN, INC.	243,220	$4.833M	1.2%	$19.87 *	$11.69	+51.6%	COM	49456B101
MO	ALTRIA GROUP INC.	103,076	$4.695M	1.1%	$45.55 *	$22.36	+74.9%	COM	02209S103
AMZN	AMAZON.COM, INC.	23,955	$4.629M	1.1%	$193.24 *	$104.78	+75.3%	COM	023135106
JNJ	JOHNSON & JOHNSON	31,180	$4.557M	1.1%	$146.15 *	$69.26	+104.2%	COM	478160104
EPD	ENTERPRISE PRODUCTS PARTNERS,	155,810	$4.515M	1.1%	$28.98	$23.47	—	COM	293792107
PFE	PFIZER, INC.	154,965	$4.336M	1.0%	$27.98 *	$18.40	+34.6%	COM	717081103
BOH	BANK OF HAWAII CORPORATION	72,760	$4.163M	1.0%	$57.22 *	$47.98	+11.8%	COM	062540109
VZ	VERIZON COMMUNICATIONS INC.	100,559	$4.147M	1.0%	$41.24 *	$34.86	+4.6%	COM	92343V104
CB	CHUBB LIMITED (FRMLY ACE LIMIT	14,906	$3.802M	0.9%	$255.07	$94.35	+167.9%	COM	H1467J104
—	EQUITY RESIDENTIAL REIT	54,500	$3.779M	0.9%	$69.34	$61.88	—	COM	29476l107
RHHBY	ROCHE HOLDING LTD ADR	108,000	$3.744M	0.9%	$34.67	$45.65	—	COM	771195104
GIS	GENERAL MILLS, INC.	56,000	$3.543M	0.9%	$63.27	$34.14	+88.8%	COM	370334104
DLR	DIGITAL REALTY TRUST, INC. REI	22,840	$3.473M	0.8%	$152.06 *	$95.33	+43.1%	COM	253868103
—	AON PLC	11,618	$3.411M	0.8%	$293.60	$64.38	—	COM	037389103
MDLZ	MONDELEZ INTL INC.(FMRLY KRAFT	45,500	$2.978M	0.7%	$65.45	$23.16	+181.4%	COM	609207105
VICI	VICI PROPERTIES INC. (REIT)	103,850	$2.974M	0.7%	$28.64 *	$22.83	+14.1%	COM	925652109
STZ	CONSTELLATION BRANDS, INC.	10,550	$2.714M	0.7%	$257.25 *	$156.20	+59.0%	COM	21036P108
—	TOTALENERGIES SE ADR (FRMRLY T	39,175	$2.612M	0.6%	$66.68	$48.47	—	COM	89151E109
BMY	BRISTOL-MYERS SQUIBB CO	59,774	$2.482M	0.6%	$41.52	$31.01	+32.3%	COM	110122108
—	CONOCOPHILLIPS	21,700	$2.482M	0.6%	$114.38	$64.70	—	COM	20825c104
CAT	CATERPILLAR INC.	6,700	$2.232M	0.5%	$333.13	$111.53	+203.7%	COM	149123101
SRE	SEMPRA ENERGY	29,000	$2.206M	0.5%	$76.07 *	$54.41	+28.7%	COM	816851109
—	REXFORD INDUSTRIAL REALTY, INC	48,600	$2.167M	0.5%	$44.59	$34.83	—	COM	76169c100
KMB	KIMBERLY-CLARK	14,200	$1.962M	0.5%	$138.17 *	$64.11	+95.4%	COM	494368103
CI	CIGNA CORP (ACQUIRED EXPRESS S	5,932	$1.961M	0.5%	$330.58	$190.77	+75.2%	COM	125523100
TXN	TEXAS INSTRUMENTS INC.	10,000	$1.945M	0.5%	$194.50 *	$25.31	+596.0%	COM	882508104
—	KKR & CO. INC.	18,000	$1.894M	0.5%	$105.22	$27.28	—	COM	48251w104
BTI	BRITISH AMERICAN TOBACCO PLC -	59,864	$1.852M	0.4%	$30.94	$33.14	—	COM	110448107
—	PRUDENTIAL FINANCIAL INC 5.625	73,000	$1.789M	0.4%	$24.51	$24.87	—	PREFERRED	744320805
MCD	MCDONALD'S CORP	7,000	$1.784M	0.4%	$254.86	$171.84	+48.4%	COM	580135101
PSX	PHILLIPS 66	12,600	$1.779M	0.4%	$141.19	$51.48	+171.2%	COM	718546104
—	RTX CORP (FRMLY RAYTHEON TECH	17,400	$1.747M	0.4%	$100.40	$65.80	—	COM	75513e101
NSRGY	NESTLE SA - SPON ADR	17,000	$1.742M	0.4%	$102.47	$79.48	—	COM	641069406
UNP	UNION PACIFIC CORPORATION	7,500	$1.697M	0.4%	$226.27	$72.17	+212.5%	COM	907818108
UNH	UNITEDHEALTH GROUP INC	3,090	$1.574M	0.4%	$509.39 *	$467.81	+1.1%	COM	91324P102
BPY 6.5 PERP A-1	BROOKFIELD PRPTY PTNRS LP 6.5	100,000	$1.42M	0.3%	$14.20	$24.83	—	PREFERRED	G16249149
—	BLACKSTONE INC. (THE)	11,000	$1.362M	0.3%	$123.82	$44.45	—	COM	09260d107
XOM	EXXON MOBIL CORPORATION	11,700	$1.347M	0.3%	$115.13 *	$76.52	+43.9%	COM	30231G102
—	NOVARTIS AG - ADR	10,750	$1.144M	0.3%	$106.42	$81.77	—	COM	66987v109
EW	EDWARDS LIFESCIENCES CORP.	12,370	$1.143M	0.3%	$92.40 *	$73.24	+20.9%	COM	28176E108
MS	MORGAN STANLEY	11,400	$1.108M	0.3%	$97.19 *	$39.15	+132.0%	COM	617446448
AVB	AVALONBAY COMMUNITIES, INC REI	5,000	$1.034M	0.2%	$206.80 *	$87.72	+107.8%	COM	053484101
—	PUBLIC STORAGE 5.15 SER F CAL	40,000	$925K	0.2%	$23.13	$24.97	—	PREFERRED	74460W685
—	CARRIER GLOBAL CORP (UNITED TE	14,400	$908K	0.2%	$63.06	$22.22	—	COM	14448c104
ABT	ABBOTT LABORATORIES	8,700	$904K	0.2%	$103.91	$28.85	+256.9%	COM	002824100
AEP	AMERICAN ELECTRIC POWER	10,000	$877K	0.2%	$87.70 *	$30.44	+171.4%	COM	025537101
TSM	TAIWAN SEMICONDUCTOR MFG CO LT	5,006	$870K	0.2%	$173.79	$46.54	—	COM	874039100
—	YUM BRANDS INC. (FORMERLY TRIC	6,080	$805K	0.2%	$132.40	$69.32	—	COM	895953107
EMR	EMERSON ELECTRIC CO	7,130	$785K	0.2%	$110.10 *	$40.02	+168.5%	COM	291011104
—	JPMORGAN CHASE 6.00 CALLABLE	30,000	$753K	0.2%	$25.10	$26.13	—	PREFERRED	48128b648
ZBH	ZIMMER BIOMET HOLDINGS(FRMLY Z	6,700	$727K	0.2%	$108.51 *	$67.30	+72.3%	COM	98956P102
AMAT	APPLIED MATERIALS INC	3,075	$726K	0.2%	$236.10 *	$105.93	+99.6%	COM	038222105
SYY	SYSCO CORP	10,000	$714K	0.2%	$71.40	$24.40	+191.6%	COM	871829107
UPS	UNITED PARCEL SERVICE, INC. CL	5,100	$698K	0.2%	$136.86 *	$67.80	+91.7%	COM	911312106
—	OTIS WORLDWIDE CORP (UNITED TE	7,200	$693K	0.2%	$96.25	$56.81	—	COM	68902v107
PSA	PUBLIC STORAGE - REIT	2,388	$687K	0.2%	$287.69 *	$97.16	+165.2%	COM	74460D109
—	TRAVELERS COMPANIES, INC.	3,264	$664K	0.2%	$203.43	$80.04	—	COM	89417e109
RIO	RIO TINTO PLC SPONSORED ADR	10,000	$659K	0.2%	$65.90	$41.05	—	COM	767204100
AZN	ASTRAZENECA PLC-SPONS ADR	8,000	$624K	0.2%	$78.00	$41.94	—	COM	046353108
—	EXPEDIA INC.(IAC/INTERACTIVECO	4,900	$617K	0.1%	$125.92	$134.34	—	COM	30212p303
ADM	ARCHER-DANIELS-MIDLAND CORP	10,172	$615K	0.1%	$60.46 *	$23.37	+147.0%	COM	039483102
—	U.S. BANCORP (FORMERLY FIRST B	14,610	$580K	0.1%	$39.70	$36.18	—	COM	902973106
RL	RALPH LAUREN CORP (FMLY POLO R	3,000	$525K	0.1%	$175.00 *	$87.38	+92.8%	COM	751212101
—	FIDELITY NATIONAL FINANCIAL, I	10,458	$517K	0.1%	$49.44	$27.73	—	COM	31620r303
DRI	DARDEN RESTAURANTS INC.	3,000	$454K	0.1%	$151.33 *	$60.40	+139.8%	COM	237194105
ORCL	ORACLE CORP	3,000	$424K	0.1%	$141.33 *	$73.20	+67.1%	COM	68389X105
BP	BP PLC SPONS ADR	11,642	$420K	0.1%	$36.08	$40.99	—	COM	055622104
—	CROWN CASTLE INTERNATIONAL COR	4,300	$420K	0.1%	$97.67	$124.65	—	COM	22822v101
—	FIDELITY NATIONAL INFORMATION	5,364	$404K	0.1%	$75.32	$42.88	—	COM	31620m106
—	ON HOLDING AG	10,000	$388K	0.1%	$38.80	$27.80	—	COM	h5919c104
—	MARKER THERAPEUTICS, INC.	70,700	$384K	0.1%	$5.43	$2.34	—	COM	57055L107
BXP	BOSTON PROPERTIES INC. REIT	6,000	$369K	0.1%	$61.50 *	$64.00	-12.7%	COM	101121101
SWRAY	SWIRE PACIFIC LTD SPONS ADR RP	40,000	$356K	0.1%	$8.90	$9.19	—	COM	870794302
ALL	ALLSTATE CORP	2,000	$319K	0.1%	$159.50	$86.64	+86.3%	COM	020002101
TOST	TOAST, INC.	11,800	$304K	0.1%	$25.76 *	$19.72	+22.6%	COM	888787108
—	VODAFONE GROUP PLC SPONS ADR	32,564	$289K	0.1%	$8.87	$8.91	—	COM	92857w308
—	METLIFE INC.	4,000	$281K	0.1%	$70.25	$60.75	—	COM	59156r108
HHH	HOWARD HUGHES HOLDINGS INC.	4,100	$266K	0.1%	$64.88 *	$75.45	-16.9%	COM	44267T102
CHD	CHURCH & DWIGHT	2,400	$249K	0.1%	$103.75	$80.68	+28.6%	COM	171340102
—	IAC INC.	4,925	$231K	0.1%	$46.90	$154.11	—	COM	44891n208
CDP	COPT DEFENSE PROP REIT(FRM COR	9,100	$228K	0.1%	$25.05	$27.25	—	COM	22002T108
—	AEGON LTD - NY REG SHRS	36,691	$225K	0.1%	$6.13	$4.80	—	COM	0076ca104
—	VISA INC.	800	$210K	0.1%	$262.50	$262.50	—	COM	92826c839
A	AGILENT TECHNOLOGIES, INC.(SPU	1,593	$207K	0.0%	$129.94 *	$117.22	+17.9%	COM	00846U101