Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RTX	RTX CORPORATION	43,234	$8.203M	1.5%	$189.73	—	COM	75513E101
UNP	UNION PAC CORP	23,620	$6.425M	1.1%	$272.00	—	COM	907818108
SNY	SANOFI SA	125,869	$5.37M	1.0%	$42.66	—	SPONSORED ADR	80105N105
ABT	ABBOTT LABORATORIES	57,508	$5.218M	0.9%	$90.74	—	COM	002824100
TXN	TEXAS INSTRS INC	16,493	$4.916M	0.9%	$298.07	—	COM	882508104
QCOM	QUALCOMM INC	20,341	$3.759M	0.7%	$184.79	—	COM	747525103
AZN	ASTRAZENECA PLC	18,998	$3.602M	0.6%	$189.62	—	ORD	G0593M107
ISRG	INTUITIVE SURGICAL INC	5,535	$2.201M	0.4%	$397.68	—	COM NEW	46120E602
STT	STATE STR CORP	9,384	$1.584M	0.3%	$168.76	—	COM	857477103
EBAY	EBAY INC.	13,016	$1.455M	0.3%	$111.75	—	COM	278642103
STX	SEAGATE TECHNOLOGY HLDNGS PL	1,386	$1.337M	0.2%	$965.00	—	ORD SHS	G7997R103
JBL	JABIL INC	2,710	$1.045M	0.2%	$385.48	—	COM	466313103
REGN	REGENERON PHARMACEUTICALS	1,480	$923K	0.2%	$623.54	—	COM	75886F107
CIEN	CIENA CORP	1,781	$874K	0.2%	$490.56	—	COM NEW	171779309
HWM	HOWMET AEROSPACE INC	3,235	$870K	0.2%	$268.86	—	COM	443201108
DELL	DELL TECHNOLOGIES INC	1,833	$791K	0.1%	$431.46	—	CL C	24703L202
ETR	ENTERGY CORP NEW	5,818	$668K	0.1%	$114.86	—	COM	29364G103
LITE	LUMENTUM HLDGS INC	711	$610K	0.1%	$858.06	—	COM	55024U109
CINF	CINCINNATI FINL CORP	3,249	$602K	0.1%	$185.14	—	COM	172062101
KEYS	KEYSIGHT TECHNOLOGIES INC	1,597	$559K	0.1%	$350.07	—	COM	49338L103
EL	LAUDER ESTEE COS INC	6,204	$490K	0.1%	$78.95	—	CL A	518439104
AIZ	ASSURANT INC	1,745	$469K	0.1%	$268.53	—	COM	04621X108
SATS	ECHOSTAR CORP	4,497	$456K	0.1%	$101.50	—	CL A	278768106
JBHT	HUNT J B TRANS SVCS INC	1,532	$443K	0.1%	$289.43	—	COM	445658107
MPWR	MONOLITHIC PWR SYS INC	306	$423K	0.1%	$1382.36	—	COM	609839105
ADM	ARCHER DANIELS MIDLAND CO	5,268	$402K	0.1%	$76.40	—	COM	039483102
FDXF	FEDEX FGHT HLDG CO INC	2,563	$387K	0.1%	$151.00	—	COMMON STOCK A	314352105
UAL	UNITED AIRLS HLDGS INC	2,585	$352K	0.1%	$135.99	—	COM	910047109
CF	CF INDUSTRIES HOLD	2,991	$324K	0.1%	$108.26	—	COM	125269100
TPG	TPG INC ⚠	12,251	$0	0.0%	—	—	COM CL A	872657101

Increased Positions (77)

UNH UNITEDHEALTH GROUP INC 3.9%

Value $21.79M (+130.6%) Shares 52,435 (+50.1%) Est. Cost $350.80 Unrealized —

HD HOME DEPOT INC 2.0%

Value $10.92M (+81.5%) Shares 30,950 (+69.2%) Est. Cost $366.64 Unrealized —

JNJ JOHNSON & JOHNSON 2.7%

Value $15.32M (+41.8%) Shares 60,314 (+36.5%) Est. Cost $212.73 Unrealized —

MU MICRON TECHNOLOGY INC 1.0%

Value $5.545M (+250.3%) Shares 4,804 (+2.5%) Est. Cost $405.88 Unrealized —

NVDA NVIDIA CORPORATION 2.4%

Value $13.53M (+39.0%) Shares 67,616 (+21.2%) Est. Cost $188.80 Unrealized —

GS GOLDMAN SACHS GROUP INC 1.4%

Value $7.572M (+93.6%) Shares 7,487 (+61.9%) Est. Cost $889.07 Unrealized —

ABBV ABBVIE INC 2.2%

Value $12.05M (+34.7%) Shares 47,900 (+16.4%) Est. Cost $230.23 Unrealized —

BTI BRITISH AMERN TOB PLC 2.8%

Value $15.94M (+21.3%) Shares 258,128 (+14.8%) Est. Cost $57.67 Unrealized —

UPS UNITED PARCEL SVCS INC 2.2%

Value $12.35M (+25.6%) Shares 114,909 (+15.0%) Est. Cost $100.70 Unrealized —

AAPL APPLE INC 1.5%

Value $8.361M (+38.1%) Shares 28,896 (+21.1%) Est. Cost $272.01 Unrealized —

SNDK SANDISK CORP 0.4%

Value $2.351M (+334.3%) Shares 1,034 (+21.4%) Est. Cost $825.80 Unrealized —

MPLX MPLX LP 2.7%

Value $14.99M (+13.5%) Shares 266,131 (+14.9%) Est. Cost $53.92 Unrealized —

AVGO BROADCOM INC 0.9%

Value $5.284M (+48.1%) Shares 13,989 (+21.3%) Est. Cost $353.91 Unrealized —

AEP AMERICAN ELEC PWR CO INC 1.7%

Value $9.597M (+20.0%) Shares 70,152 (+14.9%) Est. Cost $120.31 Unrealized —

GOOGL ALPHABET INC 0.8%

Value $4.632M (+50.7%) Shares 12,961 (+21.3%) Est. Cost $298.20 Unrealized —

AMZN AMAZON COM INC 1.3%

Value $7.142M (+27.8%) Shares 29,967 (+11.7%) Est. Cost $228.95 Unrealized —

TJX TJX COS INC NEW 0.3%

Value $1.655M (+698.9%) Shares 10,922 (+742.1%) Est. Cost $151.05 Unrealized —

CME CME GROUP INC 1.5%

Value $8.4M (-14.1%) Shares 38,039 (+14.9%) Est. Cost $264.78 Unrealized —

ROST ROSS STORES INC 0.4%

Value $2.067M (+179.9%) Shares 9,709 (+184.9%) Est. Cost $205.66 Unrealized —

CI THE CIGNA GROUP 1.5%

Value $8.164M (+18.6%) Shares 29,614 (+14.8%) Est. Cost $278.98 Unrealized —

MO ALTRIA GROUP INC 1.1%

Value $6.268M (+25.4%) Shares 87,116 (+15.0%) Est. Cost $61.00 Unrealized —

MRK MERCK & CO INC 0.5%

Value $2.634M (+83.6%) Shares 20,497 (+71.8%) Est. Cost $117.32 Unrealized —

C CITIGROUP INC 0.6%

Value $3.613M (+49.5%) Shares 25,811 (+21.2%) Est. Cost $109.99 Unrealized —

ENB ENBRIDGE INC 1.5%

Value $8.563M (+15.1%) Shares 157,958 (+15.0%) Est. Cost $48.04 Unrealized —

HSBC HSBC HLDGS PLC 0.8%

Value $4.571M (+32.1%) Shares 48,065 (+14.6%) Est. Cost $81.17 Unrealized —

WDC WESTERN DIGITAL CORP 0.3%

Value $1.703M (+184.7%) Shares 2,666 (+20.6%) Est. Cost $317.36 Unrealized —

LRCX LAM RESEARCH CORP 0.3%

Value $1.785M (+146.3%) Shares 4,120 (+21.5%) Est. Cost $211.76 Unrealized —

UBS UBS GROUP AG 0.6%

Value $3.339M (+45.4%) Shares 67,374 (+14.6%) Est. Cost $41.57 Unrealized —

BAC BANK OF AMER CORP 0.4%

Value $2.344M (+79.1%) Shares 41,134 (+53.2%) Est. Cost $54.62 Unrealized —

NEE NEXTERA ENERGY INC 2.3%

Value $12.62M (+8.6%) Shares 143,750 (+14.9%) Est. Cost $83.19 Unrealized —

CMI CUMMINS INC 0.5%

Value $2.581M (+60.9%) Shares 3,619 (+21.4%) Est. Cost $584.50 Unrealized —

AIG AMERICAN INTL GROUP INC 1.3%

Value $7.492M (+13.9%) Shares 100,526 (+15.0%) Est. Cost $78.86 Unrealized —

BKNG BOOKING HOLDINGS INC 0.5%

Value $2.698M (+50.4%) Shares 15,135 (+3452.8%) Est. Cost $307.81 Unrealized —

FDX FEDEX CORP 0.3%

Value $1.605M (+98.2%) Shares 5,126 (+125.4%) Est. Cost $314.10 Unrealized —

IDXX IDEXX LABS INC 0.7%

Value $3.845M (+25.4%) Shares 7,304 (+33.8%) Est. Cost $633.93 Unrealized —

KOF COCA-COLA FEMSA SAB DE CV 0.7%

Value $3.921M (+24.7%) Shares 36,902 (+14.5%) Est. Cost $96.48 Unrealized —

INTC INTEL CORP 0.2%

Value $1.011M (+284.0%) Shares 7,238 (+21.4%) Est. Cost $62.83 Unrealized —

WMT WALMART INC 0.2%

Value $991K (+274.2%) Shares 8,746 (+310.6%) Est. Cost $111.78 Unrealized —

RIO RIO TINTO PLC 0.9%

Value $5.006M (+16.6%) Shares 52,736 (+14.5%) Est. Cost $83.35 Unrealized —

BIPC BROOKFIELD INFRASTRUCTURE CO 1.2%

Value $6.577M (+12.0%) Shares 170,826 (+15.0%) Est. Cost $44.26 Unrealized —

GLW CORNING INC 0.2%

Value $1.189M (+128.0%) Shares 4,653 (+21.4%) Est. Cost $136.98 Unrealized —

AMX AMERICA MOVIL SAB DE CV 0.8%

Value $4.366M (+16.8%) Shares 167,984 (+14.5%) Est. Cost $21.86 Unrealized —

BA BOEING CO 0.4%

Value $2.462M (+32.0%) Shares 11,374 (+21.4%) Est. Cost $234.66 Unrealized —

IBN ICICI BANK LIMITED 0.5%

Value $2.673M (+28.4%) Shares 92,081 (+14.6%) Est. Cost $27.56 Unrealized —

MNST MONSTER BEVERAGE CORP NEW 0.3%

Value $1.492M (+60.9%) Shares 15,522 (+21.3%) Est. Cost $83.35 Unrealized —

NTRS NORTHERN TR CORP 0.3%

Value $1.582M (+50.8%) Shares 9,100 (+21.0%) Est. Cost $151.59 Unrealized —

DAL DELTA AIR LINES INC 0.2%

Value $1.267M (+70.9%) Shares 13,527 (+21.3%) Est. Cost $74.03 Unrealized —

UL UNILEVER PLC 0.5%

Value $2.899M (+20.8%) Shares 48,218 (+14.5%) Est. Cost $62.18 Unrealized —

TSLA TESLA INC 0.3%

Value $1.74M (+37.3%) Shares 4,136 (+21.4%) Est. Cost $432.02 Unrealized —

ATO ATMOS ENERGY CORP 1.2%

Value $6.604M (+7.3%) Shares 38,335 (+15.1%) Est. Cost $171.59 Unrealized —

VZ VERIZON COMMUNICATIONS INC 2.5%

Value $13.97M (-3.1%) Shares 329,840 (+14.9%) Est. Cost $40.85 Unrealized —

BP BP PLC 0.6%

Value $3.52M (-10.0%) Shares 95,277 (+14.5%) Est. Cost $45.72 Unrealized —

CB CHUBB LIMITED 0.3%

Value $1.762M (+26.9%) Shares 5,170 (+21.4%) Est. Cost $320.54 Unrealized —

VST VISTRA CORP 0.2%

Value $1.394M (+28.1%) Shares 8,789 (+21.4%) Est. Cost $162.38 Unrealized —

NVS NOVARTIS AG 0.4%

Value $2.006M (+17.5%) Shares 12,800 (+14.5%) Est. Cost $141.92 Unrealized —

ES EVERSOURCE ENERGY 0.3%

Value $1.42M (+26.6%) Shares 19,645 (+21.4%) Est. Cost $70.49 Unrealized —

ANET ARISTA NETWORKS INC 0.1%

Value $703K (+67.9%) Shares 4,136 (+21.4%) Est. Cost $142.19 Unrealized —

HSY HERSHEY CO 1.5%

Value $8.606M (-2.9%) Shares 49,051 (+15.1%) Est. Cost $186.72 Unrealized —

LUV SOUTHWEST AIRLS CO 0.1%

Value $621K (+65.7%) Shares 12,076 (+21.1%) Est. Cost $48.05 Unrealized —

AMP AMERIPRISE FINL INC 0.2%

Value $1.186M (+25.3%) Shares 2,585 (+21.4%) Est. Cost $489.01 Unrealized —

OMAB GRUPO AEROPORTUARIO DEL CENT 0.4%

Value $1.962M (+13.0%) Shares 17,346 (+14.6%) Est. Cost $109.96 Unrealized —

META META PLATFORMS INC 0.4%

Value $2.387M (+8.8%) Shares 4,238 (+10.5%) Est. Cost $653.57 Unrealized —

SCHW SCHWAB CHARLES CORP 0.2%

Value $1.144M (+19.2%) Shares 12,395 (+21.4%) Est. Cost $97.88 Unrealized —

FCX FREEPORT MCMORAN INC 0.1%

Value $748K (+29.8%) Shares 11,891 (+21.4%) Est. Cost $61.43 Unrealized —

T AT&T INC 0.2%

Value $1.005M (-13.5%) Shares 48,532 (+21.2%) Est. Cost $24.79 Unrealized —

INCY INCYTE CORP 0.1%

Value $341K (+47.1%) Shares 3,012 (+22.1%) Est. Cost $104.98 Unrealized —

TTE TOTALENERGIES SE 0.9%

Value $4.945M (-2.1%) Shares 63,599 (+14.5%) Est. Cost $68.08 Unrealized —

DECK DECKERS OUTDOOR CORP 0.1%

Value $616K (+20.4%) Shares 6,204 (+21.4%) Est. Cost $107.74 Unrealized —

WM WASTE MGMT INC DEL 0.1%

Value $698K (+17.5%) Shares 3,131 (+21.1%) Est. Cost $225.51 Unrealized —

ORCL ORACLE CORP 0.1%

Value $530K (+20.9%) Shares 3,619 (+21.4%) Est. Cost $221.95 Unrealized —

DTE DTE ENERGY CO 0.1%

Value $394K (+26.5%) Shares 2,585 (+21.4%) Est. Cost $139.54 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.2%

Value $862K (-3.5%) Shares 7,386 (+21.0%) Est. Cost $168.42 Unrealized —

JD JD.COM INC 0.4%

Value $2.35M (-1.3%) Shares 92,211 (+14.5%) Est. Cost $28.38 Unrealized —

LMT LOCKHEED MARTIN CORP 0.2%

Value $1.054M (+2.3%) Shares 2,068 (+21.4%) Est. Cost $538.96 Unrealized —

MCK MCKESSON CORP 0.1%

Value $407K (+5.1%) Shares 538 (+20.4%) Est. Cost $805.43 Unrealized —

PEP PEPSICO INC 1.2%

Value $6.779M (+0.2%) Shares 50,070 (+14.9%) Est. Cost $144.54 Unrealized —

HCA HCA HEALTHCARE INC 0.4%

Value $2.217M (-0.0%) Shares 5,687 (+21.4%) Est. Cost $478.97 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNH	UNITEDHEALTH GROUP INC	52,435 (+50.1%)	$21.79M (+130.6%)	3.9%	$350.80	—	COM	91324P102
HD	HOME DEPOT INC	30,950 (+69.2%)	$10.92M (+81.5%)	2.0%	$366.64	—	COM	437076102
JNJ	JOHNSON & JOHNSON	60,314 (+36.5%)	$15.32M (+41.8%)	2.7%	$212.73	—	COM	478160104
MU	MICRON TECHNOLOGY INC	4,804 (+2.5%)	$5.545M (+250.3%)	1.0%	$405.88	—	COM	595112103
NVDA	NVIDIA CORPORATION	67,616 (+21.2%)	$13.53M (+39.0%)	2.4%	$188.80	—	COM	67066G104
GS	GOLDMAN SACHS GROUP INC	7,487 (+61.9%)	$7.572M (+93.6%)	1.4%	$889.07	—	COM	38141G104
ABBV	ABBVIE INC	47,900 (+16.4%)	$12.05M (+34.7%)	2.2%	$230.23	—	COM	00287Y109
BTI	BRITISH AMERN TOB PLC	258,128 (+14.8%)	$15.94M (+21.3%)	2.8%	$57.67	—	SPONSORED ADR	110448107
UPS	UNITED PARCEL SVCS INC	114,909 (+15.0%)	$12.35M (+25.6%)	2.2%	$100.70	—	CL B	911312106
AAPL	APPLE INC	28,896 (+21.1%)	$8.361M (+38.1%)	1.5%	$272.01	—	COM	037833100
SNDK	SANDISK CORP	1,034 (+21.4%)	$2.351M (+334.3%)	0.4%	$825.80	—	COM	80004C200
MPLX	MPLX LP	266,131 (+14.9%)	$14.99M (+13.5%)	2.7%	$53.92	—	COM UNIT REP LTD	55336V100
AVGO	BROADCOM INC	13,989 (+21.3%)	$5.284M (+48.1%)	0.9%	$353.91	—	COM	11135F101
AEP	AMERICAN ELEC PWR CO INC	70,152 (+14.9%)	$9.597M (+20.0%)	1.7%	$120.31	—	COM	025537101
GOOGL	ALPHABET INC	12,961 (+21.3%)	$4.632M (+50.7%)	0.8%	$298.20	—	CAP STK CL A	02079K305
AMZN	AMAZON COM INC	29,967 (+11.7%)	$7.142M (+27.8%)	1.3%	$228.95	—	COM	023135106
TJX	TJX COS INC NEW	10,922 (+742.1%)	$1.655M (+698.9%)	0.3%	$151.05	—	COM	872540109
CME	CME GROUP INC	38,039 (+14.9%)	$8.4M (-14.1%)	1.5%	$264.78	—	COM	12572Q105
ROST	ROSS STORES INC	9,709 (+184.9%)	$2.067M (+179.9%)	0.4%	$205.66	—	COM	778296103
CI	THE CIGNA GROUP	29,614 (+14.8%)	$8.164M (+18.6%)	1.5%	$278.98	—	COM	125523100
MO	ALTRIA GROUP INC	87,116 (+15.0%)	$6.268M (+25.4%)	1.1%	$61.00	—	COM	02209S103
MRK	MERCK & CO INC	20,497 (+71.8%)	$2.634M (+83.6%)	0.5%	$117.32	—	COM	58933Y105
C	CITIGROUP INC	25,811 (+21.2%)	$3.613M (+49.5%)	0.6%	$109.99	—	COM NEW	172967424
ENB	ENBRIDGE INC	157,958 (+15.0%)	$8.563M (+15.1%)	1.5%	$48.04	—	COM	29250N105
HSBC	HSBC HLDGS PLC	48,065 (+14.6%)	$4.571M (+32.1%)	0.8%	$81.17	—	SPON ADR NEW	404280406
WDC	WESTERN DIGITAL CORP	2,666 (+20.6%)	$1.703M (+184.7%)	0.3%	$317.36	—	COM	958102105
LRCX	LAM RESEARCH CORP	4,120 (+21.5%)	$1.785M (+146.3%)	0.3%	$211.76	—	COM NEW	512807306
UBS	UBS GROUP AG	67,374 (+14.6%)	$3.339M (+45.4%)	0.6%	$41.57	—	SHS	H42097107
BAC	BANK OF AMER CORP	41,134 (+53.2%)	$2.344M (+79.1%)	0.4%	$54.62	—	COM	060505104
NEE	NEXTERA ENERGY INC	143,750 (+14.9%)	$12.62M (+8.6%)	2.3%	$83.19	—	COM	65339F101
CMI	CUMMINS INC	3,619 (+21.4%)	$2.581M (+60.9%)	0.5%	$584.50	—	COM	231021106
AIG	AMERICAN INTL GROUP INC	100,526 (+15.0%)	$7.492M (+13.9%)	1.3%	$78.86	—	COM NEW	026874784
BKNG	BOOKING HOLDINGS INC	15,135 (+3452.8%)	$2.698M (+50.4%)	0.5%	$307.81	—	COM	09857L108
FDX	FEDEX CORP	5,126 (+125.4%)	$1.605M (+98.2%)	0.3%	$314.10	—	COM	31428X106
IDXX	IDEXX LABS INC	7,304 (+33.8%)	$3.845M (+25.4%)	0.7%	$633.93	—	COM	45168D104
KOF	COCA-COLA FEMSA SAB DE CV	36,902 (+14.5%)	$3.921M (+24.7%)	0.7%	$96.48	—	SPONS ADS REP	191241108
INTC	INTEL CORP	7,238 (+21.4%)	$1.011M (+284.0%)	0.2%	$62.83	—	COM	458140100
WMT	WALMART INC	8,746 (+310.6%)	$991K (+274.2%)	0.2%	$111.78	—	COM	931142103
RIO	RIO TINTO PLC	52,736 (+14.5%)	$5.006M (+16.6%)	0.9%	$83.35	—	SPONSORED ADR	767204100
BIPC	BROOKFIELD INFRASTRUCTURE CO	170,826 (+15.0%)	$6.577M (+12.0%)	1.2%	$44.26	—	COM SUB VTG A	11276H106
GLW	CORNING INC	4,653 (+21.4%)	$1.189M (+128.0%)	0.2%	$136.98	—	COM	219350105
AMX	AMERICA MOVIL SAB DE CV	167,984 (+14.5%)	$4.366M (+16.8%)	0.8%	$21.86	—	SPON ADS RP CL B	02390A101
BA	BOEING CO	11,374 (+21.4%)	$2.462M (+32.0%)	0.4%	$234.66	—	COM	097023105
IBN	ICICI BANK LIMITED	92,081 (+14.6%)	$2.673M (+28.4%)	0.5%	$27.56	—	ADR	45104G104
MNST	MONSTER BEVERAGE CORP NEW	15,522 (+21.3%)	$1.492M (+60.9%)	0.3%	$83.35	—	COM	61174X109
NTRS	NORTHERN TR CORP	9,100 (+21.0%)	$1.582M (+50.8%)	0.3%	$151.59	—	COM	665859104
DAL	DELTA AIR LINES INC	13,527 (+21.3%)	$1.267M (+70.9%)	0.2%	$74.03	—	COM NEW	247361702
UL	UNILEVER PLC	48,218 (+14.5%)	$2.899M (+20.8%)	0.5%	$62.18	—	SPON ADR NEW	904767803
TSLA	TESLA INC	4,136 (+21.4%)	$1.74M (+37.3%)	0.3%	$432.02	—	COM	88160R101
ATO	ATMOS ENERGY CORP	38,335 (+15.1%)	$6.604M (+7.3%)	1.2%	$171.59	—	COM	049560105
VZ	VERIZON COMMUNICATIONS INC	329,840 (+14.9%)	$13.97M (-3.1%)	2.5%	$40.85	—	COM	92343V104
BP	BP PLC	95,277 (+14.5%)	$3.52M (-10.0%)	0.6%	$45.72	—	SPONSORED ADR	055622104
CB	CHUBB LIMITED	5,170 (+21.4%)	$1.762M (+26.9%)	0.3%	$320.54	—	COM	H1467J104
VST	VISTRA CORP	8,789 (+21.4%)	$1.394M (+28.1%)	0.2%	$162.38	—	COM	92840M102
NVS	NOVARTIS AG	12,800 (+14.5%)	$2.006M (+17.5%)	0.4%	$141.92	—	SPONSORED ADR	66987V109
ES	EVERSOURCE ENERGY	19,645 (+21.4%)	$1.42M (+26.6%)	0.3%	$70.49	—	COM	30040W108
ANET	ARISTA NETWORKS INC	4,136 (+21.4%)	$703K (+67.9%)	0.1%	$142.19	—	COM SHS	040413205
HSY	HERSHEY CO	49,051 (+15.1%)	$8.606M (-2.9%)	1.5%	$186.72	—	COM	427866108
LUV	SOUTHWEST AIRLS CO	12,076 (+21.1%)	$621K (+65.7%)	0.1%	$48.05	—	COM	844741108
AMP	AMERIPRISE FINL INC	2,585 (+21.4%)	$1.186M (+25.3%)	0.2%	$489.01	—	COM	03076C106
OMAB	GRUPO AEROPORTUARIO DEL CENT	17,346 (+14.6%)	$1.962M (+13.0%)	0.4%	$109.96	—	SPON ADR	400501102
META	META PLATFORMS INC	4,238 (+10.5%)	$2.387M (+8.8%)	0.4%	$653.57	—	CL A	30303M102
SCHW	SCHWAB CHARLES CORP	12,395 (+21.4%)	$1.144M (+19.2%)	0.2%	$97.88	—	COM	808513105
FCX	FREEPORT MCMORAN INC	11,891 (+21.4%)	$748K (+29.8%)	0.1%	$61.43	—	CL B	35671D857
T	AT&T INC	48,532 (+21.2%)	$1.005M (-13.5%)	0.2%	$24.79	—	COM	00206R102
INCY	INCYTE CORP	3,012 (+22.1%)	$341K (+47.1%)	0.1%	$104.98	—	COM	45337C102
TTE	TOTALENERGIES SE	63,599 (+14.5%)	$4.945M (-2.1%)	0.9%	$68.08	—	ACT	F92124100
DECK	DECKERS OUTDOOR CORP	6,204 (+21.4%)	$616K (+20.4%)	0.1%	$107.74	—	COM	243537107
WM	WASTE MGMT INC DEL	3,131 (+21.1%)	$698K (+17.5%)	0.1%	$225.51	—	COM	94106L109
ORCL	ORACLE CORP	3,619 (+21.4%)	$530K (+20.9%)	0.1%	$221.95	—	COM	68389X105
DTE	DTE ENERGY CO	2,585 (+21.4%)	$394K (+26.5%)	0.1%	$139.54	—	COM	233331107
PLTR	PALANTIR TECHNOLOGIES INC	7,386 (+21.0%)	$862K (-3.5%)	0.2%	$168.42	—	CL A	69608A108
JD	JD.COM INC	92,211 (+14.5%)	$2.35M (-1.3%)	0.4%	$28.38	—	SPON ADS CL A	47215P106
LMT	LOCKHEED MARTIN CORP	2,068 (+21.4%)	$1.054M (+2.3%)	0.2%	$538.96	—	COM	539830109
MCK	MCKESSON CORP	538 (+20.4%)	$407K (+5.1%)	0.1%	$805.43	—	COM	58155Q103
PEP	PEPSICO INC	50,070 (+14.9%)	$6.779M (+0.2%)	1.2%	$144.54	—	COM	713448108
HCA	HCA HEALTHCARE INC	5,687 (+21.4%)	$2.217M (-0.0%)	0.4%	$478.97	—	COM	40412C101

Exited Positions (35)

UNVGY Universal Music Group NV 1.6%

Value $8.79M Shares 915,632 Est. Cost $9.60 Unrealized —

D Dominion Energy Inc 1.6%

Value $8.713M Shares 140,937 Est. Cost $59.85 Unrealized —

ORANY Orange SA 1.2%

Value $6.934M Shares 338,729 Est. Cost $20.47 Unrealized —

DVN Devon Energy Corp 1.1%

Value $6.116M Shares 121,543 Est. Cost $40.25 Unrealized —

ENLAY Enel SpA 1.0%

Value $5.538M Shares 509,048 Est. Cost $10.88 Unrealized —

KKPNY Koninklijke KPN NV 1.0%

Value $5.498M Shares 997,732 Est. Cost $5.51 Unrealized —

LEN Lennar Corp 0.8%

Value $4.605M Shares 53,032 Est. Cost $117.24 Unrealized —

ISNPY Intesa Sanpaolo SpA 0.8%

Value $4.522M Shares 123,581 Est. Cost $36.59 Unrealized —

RHHBY Roche Holding AG 0.8%

Value $4.448M Shares 89,483 Est. Cost $49.71 Unrealized —

RBGLD Reckitt Benckiser Group PLC 0.8%

Value $4.442M Shares 326,588 Est. Cost $13.60 Unrealized —

VIV Telefonica Brasil SA 0.8%

Value $4.255M Shares 267,445 Est. Cost $15.91 Unrealized —

WMMVY Wal-Mart de Mexico SAB de CV 0.7%

Value $4.187M Shares 128,713 Est. Cost $32.53 Unrealized —

IMBBY Imperial Brands PLC 0.7%

Value $4.057M Shares 99,268 Est. Cost $40.87 Unrealized —

HESAY Hermes International SCA 0.7%

Value $3.747M Shares 19,750 Est. Cost $189.71 Unrealized —

KCDMY Kimberly-Clark de Mexico SAB d 0.6%

Value $3.529M Shares 299,042 Est. Cost $11.80 Unrealized —

BNPQY BNP Paribas SA 0.6%

Value $3.511M Shares 73,770 Est. Cost $47.59 Unrealized —

NSRGY Nestle SA 0.6%

Value $3.398M Shares 34,284 Est. Cost $99.10 Unrealized —

ZTS Zoetis Inc 0.5%

Value $3.008M Shares 25,443 Est. Cost $126.27 Unrealized —

BBSEY BB Seguridade Participacoes SA 0.5%

Value $3.007M Shares 442,835 Est. Cost $6.79 Unrealized —

CICHY China Construction Bank Corp 0.5%

Value $2.981M Shares 136,828 Est. Cost $21.79 Unrealized —

TKOMY Tokio Marine Holdings Inc 0.5%

Value $2.866M Shares 60,792 Est. Cost $47.14 Unrealized —

BKRKY Bank Rakyat Indonesia Persero 0.4%

Value $2.482M Shares 250,179 Est. Cost $9.92 Unrealized —

BRK/B Berkshire Hathaway Inc 0.4%

Value $2.258M Shares 4,713 Est. Cost $495.76 Unrealized —

MAEOY Manila Electric Co 0.4%

Value $2.032M Shares 199,931 Est. Cost $10.16 Unrealized —

— International Container Termin 0.3%

Value $1.824M Shares 161,064 Est. Cost $11.33 Unrealized —

IBDRY Iberdrola SA 0.3%

Value $1.814M Shares 19,668 Est. Cost $92.24 Unrealized —

BABA Alibaba Group Holding Ltd 0.3%

Value $1.436M Shares 11,447 Est. Cost $146.59 Unrealized —

BMY Bristol-Myers Squibb Co 0.2%

Value $1.375M Shares 22,664 Est. Cost $57.43 Unrealized —

HAL Halliburton Co 0.2%

Value $1.246M Shares 31,956 Est. Cost $33.54 Unrealized —

HOLX Hologic Inc 0.2%

Value $911K Shares 12,055 Est. Cost $75.02 Unrealized —

LVS Las Vegas Sands Corp 0.2%

Value $895K Shares 16,614 Est. Cost $58.39 Unrealized —

SOLS Solstice Advanced Materials Inc 0.1%

Value $742K Shares 9,744 Est. Cost $65.21 Unrealized —

HAS Hasbro Inc 0.1%

Value $612K Shares 6,534 Est. Cost $92.67 Unrealized —

GEV GE Vernova Inc 0.1%

Value $372K Shares 426 Est. Cost $736.93 Unrealized —

NRG NRG Energy Inc 0.0%

Value $249K Shares 1,704 Est. Cost $165.30 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNVGY	Universal Music Group NV	915,632	$8.79M	1.6%	$9.60	—	—	91377B109
D	Dominion Energy Inc	140,937	$8.713M	1.6%	$59.85	—	—	25746U109
ORANY	Orange SA	338,729	$6.934M	1.2%	$20.47	—	—	684060106
DVN	Devon Energy Corp	121,543	$6.116M	1.1%	$40.25	—	—	25179M103
ENLAY	Enel SpA	509,048	$5.538M	1.0%	$10.88	—	—	29265W207
KKPNY	Koninklijke KPN NV	997,732	$5.498M	1.0%	$5.51	—	—	780641205
LEN	Lennar Corp	53,032	$4.605M	0.8%	$117.24	—	—	526057104
ISNPY	Intesa Sanpaolo SpA	123,581	$4.522M	0.8%	$36.59	—	—	46115H107
RHHBY	Roche Holding AG	89,483	$4.448M	0.8%	$49.71	—	—	771195104
RBGLD	Reckitt Benckiser Group PLC	326,588	$4.442M	0.8%	$13.60	—	—	756255303
VIV	Telefonica Brasil SA	267,445	$4.255M	0.8%	$15.91	—	—	87936R205
WMMVY	Wal-Mart de Mexico SAB de CV	128,713	$4.187M	0.7%	$32.53	—	—	93114W107
IMBBY	Imperial Brands PLC	99,268	$4.057M	0.7%	$40.87	—	—	45262P102
HESAY	Hermes International SCA	19,750	$3.747M	0.7%	$189.71	—	—	42751Q105
KCDMY	Kimberly-Clark de Mexico SAB d	299,042	$3.529M	0.6%	$11.80	—	—	494386204
BNPQY	BNP Paribas SA	73,770	$3.511M	0.6%	$47.59	—	—	05565A202
NSRGY	Nestle SA	34,284	$3.398M	0.6%	$99.10	—	—	641069406
ZTS	Zoetis Inc	25,443	$3.008M	0.5%	$126.27	—	—	98978V103
BBSEY	BB Seguridade Participacoes SA	442,835	$3.007M	0.5%	$6.79	—	—	05541J103
CICHY	China Construction Bank Corp	136,828	$2.981M	0.5%	$21.79	—	—	168919108
TKOMY	Tokio Marine Holdings Inc	60,792	$2.866M	0.5%	$47.14	—	—	889094108
BKRKY	Bank Rakyat Indonesia Persero	250,179	$2.482M	0.4%	$9.92	—	—	69366X100
BRK/B	Berkshire Hathaway Inc	4,713	$2.258M	0.4%	$495.76	—	—	084670702
MAEOY	Manila Electric Co	199,931	$2.032M	0.4%	$10.16	—	—	563245703
—	International Container Termin	161,064	$1.824M	0.3%	$11.33	—	—	006455819
IBDRY	Iberdrola SA	19,668	$1.814M	0.3%	$92.24	—	—	450737101
BABA	Alibaba Group Holding Ltd	11,447	$1.436M	0.3%	$146.59	—	—	01609W102
BMY	Bristol-Myers Squibb Co	22,664	$1.375M	0.2%	$57.43	—	—	110122108
HAL	Halliburton Co	31,956	$1.246M	0.2%	$33.54	—	—	406216101
HOLX	Hologic Inc	12,055	$911K	0.2%	$75.02	—	—	436440101
LVS	Las Vegas Sands Corp	16,614	$895K	0.2%	$58.39	—	—	517834107
SOLS	Solstice Advanced Materials Inc	9,744	$742K	0.1%	$65.21	—	—	83443Q103
HAS	Hasbro Inc	6,534	$612K	0.1%	$92.67	—	—	418056107
GEV	GE Vernova Inc	426	$372K	0.1%	$736.93	—	—	36828A101
NRG	NRG Energy Inc	1,704	$249K	0.0%	$165.30	—	—	629377508

Decreased Positions (29)

VLO VALERO ENERGY CORP 0.1%

Value $822K (-90.8%) Shares 3,155 (-91.3%) Est. Cost $190.06 Unrealized —

CVX CHEVRON CORPORATION 2.2%

Value $12.42M (-29.9%) Shares 74,951 (-12.6%) Est. Cost $162.67 Unrealized —

ASML ASML HLDG NV 2.1%

Value $11.89M (+44.8%) Shares 5,976 (-3.9%) Est. Cost $1217.08 Unrealized —

LLY ELI LILLY & CO 0.7%

Value $4.174M (-37.2%) Shares 3,480 (-51.9%) Est. Cost $1038.81 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 2.1%

Value $11.58M (+23.4%) Shares 24,250 (-12.7%) Est. Cost $323.60 Unrealized —

NFLX NETFLIX INC. 0.7%

Value $3.84M (-35.0%) Shares 53,783 (-12.4%) Est. Cost $90.59 Unrealized —

INTU INTUIT 0.4%

Value $2.355M (-46.7%) Shares 9,024 (-11.7%) Est. Cost $509.96 Unrealized —

KMI KINDER MORGAN INC DEL 0.7%

Value $4.191M (-32.4%) Shares 131,076 (-29.1%) Est. Cost $27.04 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.5%

Value $2.776M (+174.0%) Shares 4,778 (-4.1%) Est. Cost $221.70 Unrealized —

PBR PETROLEO BRASILEIRO S A 0.9%

Value $5.185M (-24.9%) Shares 320,874 (-3.5%) Est. Cost $12.94 Unrealized —

QXO QXO INC 0.6%

Value $3.588M (-27.8%) Shares 207,644 (-18.8%) Est. Cost $23.93 Unrealized —

NKE NIKE INC 0.4%

Value $2.309M (-36.9%) Shares 56,239 (-18.8%) Est. Cost $64.03 Unrealized —

MSFT MICROSOFT CORP 1.0%

Value $5.429M (-18.7%) Shares 14,555 (-19.3%) Est. Cost $490.16 Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 0.7%

Value $4.004M (-22.8%) Shares 8,720 (-18.5%) Est. Cost $497.31 Unrealized —

GOOG ALPHABET INC 1.5%

Value $8.314M (+16.1%) Shares 23,529 (-5.8%) Est. Cost $310.60 Unrealized —

MELI MERCADOLIBRE INC 0.7%

Value $4.111M (-20.1%) Shares 2,422 (-18.6%) Est. Cost $2069.02 Unrealized —

V VISA INC 0.5%

Value $2.663M (-27.1%) Shares 7,762 (-35.8%) Est. Cost $335.57 Unrealized —

NU NU HLDGS LTD 0.5%

Value $2.92M (-24.5%) Shares 218,533 (-18.8%) Est. Cost $17.34 Unrealized —

UBER UBER TECHNOLOGIES INC 0.7%

Value $3.833M (-18.6%) Shares 53,125 (-18.8%) Est. Cost $79.65 Unrealized —

FER FERROVIAL NV 0.8%

Value $4.669M (-14.3%) Shares 68,046 (-18.8%) Est. Cost $69.23 Unrealized —

PM PHILIP MORRIS INTL INC 3.0%

Value $16.69M (+4.7%) Shares 92,278 (-4.3%) Est. Cost $155.65 Unrealized —

GSK GSK PLC 1.0%

Value $5.708M (-10.3%) Shares 108,899 (-5.6%) Est. Cost $49.80 Unrealized —

MA MASTERCARD INCORPORATED 1.0%

Value $5.737M (-9.7%) Shares 11,171 (-12.1%) Est. Cost $540.60 Unrealized —

BN BROOKFIELD CORP 0.6%

Value $3.572M (-14.6%) Shares 83,866 (-18.9%) Est. Cost $46.63 Unrealized —

PG PROCTER & GAMBLE CO 0.9%

Value $4.906M (-9.7%) Shares 33,454 (-11.0%) Est. Cost $148.58 Unrealized —

NEM NEWMONT CORP 0.1%

Value $515K (-30.1%) Shares 5,513 (-18.9%) Est. Cost $118.12 Unrealized —

JPM JPMORGAN CHASE & CO 0.2%

Value $1.196M (-5.4%) Shares 3,654 (-15.0%) Est. Cost $309.53 Unrealized —

F FORD MTR CO 0.3%

Value $1.593M (+3.5%) Shares 114,583 (-14.1%) Est. Cost $13.66 Unrealized —

NOK NOKIA CORP 0.6%

Value $3.19M (+0.6%) Shares 240,190 (-39.1%) Est. Cost $6.66 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VLO	VALERO ENERGY CORP	3,155 (-91.3%)	$822K (-90.8%)	0.1%	$190.06	—	COM	91913Y100
CVX	CHEVRON CORPORATION	74,951 (-12.6%)	$12.42M (-29.9%)	2.2%	$162.67	—	COM	166764100
ASML	ASML HLDG NV	5,976 (-3.9%)	$11.89M (+44.8%)	2.1%	$1217.08	—	N Y REGISTRY SHS	N07059210
LLY	ELI LILLY & CO	3,480 (-51.9%)	$4.174M (-37.2%)	0.7%	$1038.81	—	COM	532457108
TSM	TAIWAN SEMICONDUCTOR MANUFAC	24,250 (-12.7%)	$11.58M (+23.4%)	2.1%	$323.60	—	SPONSORED ADS	874039100
NFLX	NETFLIX INC.	53,783 (-12.4%)	$3.84M (-35.0%)	0.7%	$90.59	—	COM	64110L106
INTU	INTUIT	9,024 (-11.7%)	$2.355M (-46.7%)	0.4%	$509.96	—	COM	461202103
KMI	KINDER MORGAN INC DEL	131,076 (-29.1%)	$4.191M (-32.4%)	0.7%	$27.04	—	COM	49456B101
AMD	ADVANCED MICRO DEVICES INC	4,778 (-4.1%)	$2.776M (+174.0%)	0.5%	$221.70	—	COM	007903107
PBR	PETROLEO BRASILEIRO S A	320,874 (-3.5%)	$5.185M (-24.9%)	0.9%	$12.94	—	SPONSORED ADR	71654V408
QXO	QXO INC	207,644 (-18.8%)	$3.588M (-27.8%)	0.6%	$23.93	—	COM NEW	82846H405
NKE	NIKE INC	56,239 (-18.8%)	$2.309M (-36.9%)	0.4%	$64.03	—	CL B	654106103
MSFT	MICROSOFT CORP	14,555 (-19.3%)	$5.429M (-18.7%)	1.0%	$490.16	—	COM	594918104
SPOT	SPOTIFY TECHNOLOGY S A	8,720 (-18.5%)	$4.004M (-22.8%)	0.7%	$497.31	—	SHS	L8681T102
GOOG	ALPHABET INC	23,529 (-5.8%)	$8.314M (+16.1%)	1.5%	$310.60	—	CAP STK CL C	02079K107
MELI	MERCADOLIBRE INC	2,422 (-18.6%)	$4.111M (-20.1%)	0.7%	$2069.02	—	COM	58733R102
V	VISA INC	7,762 (-35.8%)	$2.663M (-27.1%)	0.5%	$335.57	—	COM CL A	92826C839
NU	NU HLDGS LTD	218,533 (-18.8%)	$2.92M (-24.5%)	0.5%	$17.34	—	ORD SHS CL A	G6683N103
UBER	UBER TECHNOLOGIES INC	53,125 (-18.8%)	$3.833M (-18.6%)	0.7%	$79.65	—	COM	90353T100
FER	FERROVIAL NV	68,046 (-18.8%)	$4.669M (-14.3%)	0.8%	$69.23	—	ORD SHS	N3168P101
PM	PHILIP MORRIS INTL INC	92,278 (-4.3%)	$16.69M (+4.7%)	3.0%	$155.65	—	COM	718172109
GSK	GSK PLC	108,899 (-5.6%)	$5.708M (-10.3%)	1.0%	$49.80	—	SPONSORED ADR	37733W204
MA	MASTERCARD INCORPORATED	11,171 (-12.1%)	$5.737M (-9.7%)	1.0%	$540.60	—	CL A	57636Q104
BN	BROOKFIELD CORP	83,866 (-18.9%)	$3.572M (-14.6%)	0.6%	$46.63	—	CL A LTD VT SH	11271J107
PG	PROCTER & GAMBLE CO	33,454 (-11.0%)	$4.906M (-9.7%)	0.9%	$148.58	—	COM	742718109
NEM	NEWMONT CORP	5,513 (-18.9%)	$515K (-30.1%)	0.1%	$118.12	—	COM	651639106
JPM	JPMORGAN CHASE & CO	3,654 (-15.0%)	$1.196M (-5.4%)	0.2%	$309.53	—	COM	46625H100
F	FORD MTR CO	114,583 (-14.1%)	$1.593M (+3.5%)	0.3%	$13.66	—	COM	345370860
NOK	NOKIA CORP	240,190 (-39.1%)	$3.19M (+0.6%)	0.6%	$6.66	—	SPONSORED ADR	654902204