VIKING FUND MANAGEMENT LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVO	NOVO-NORDISK-ADR	250,000	$12,720	1.5%	$50.88	—	ADR/GDR/EDR	670100205
MRSH	MARSH & MCLENNAN	17,000	$3,154	0.4%	$186.43	0.0%	Common Stock	571748102
MUSA	MURPHY USA INC	6,000	$2,421	0.3%	$383.35	0.0%	Common Stock	626755102
WMB	WILLIAMS COS INC	40,000	$2,404	0.3%	$60.06	0.0%	Common Stock	969457100
BE	BLOOM ENERGY C-A	12,000	$1,043	0.1%	$105.07	0.0%	COM CL A	093712107
DEC	DIVERSIFIED ENER	15,000	$217	0.0%	$13.84	0.0%	Common Stock	25520W107
KHC	KRAFT HEINZ CO/T	6,000	$146	0.0%	$24.63	0.0%	Common Stock	500754106

Increased Positions (30)

BBY BEST BUY CO INC 1.2%

Value ($000) $10,374 (+2643.8%) Shares 155,000 (+3000.0%) Est. Cost $75.25 Unrealized +0.3%

AFG AMER FINL GROUP 1.6%

Value ($000) $13,805 (+131.1%) Shares 101,000 (+146.3%) Est. Cost $128.47 Unrealized +4.0%

TPL TEXAS PACIFIC LA 0.6%

Value ($000) $5,428 (+190.7%) Shares 18,900 (+845.0%) Est. Cost $301.44 Unrealized +1.2%

CME CME GROUP INC 1.6%

Value ($000) $14,091 (+24.2%) Shares 51,600 (+22.9%) Est. Cost $245.70 Unrealized +10.2%

ENB ENBRIDGE INC 1.3%

Value ($000) $11,288 (+28.2%) Shares 236,000 (+35.2%) Est. Cost $37.42 Unrealized +25.9%

LNG CHENIERE ENERGY 1.0%

Value ($000) $8,748 (+37.9%) Shares 45,000 (+66.7%) Est. Cost $138.86 Unrealized +51.2%

HPE HEWLETT PACKA 1.4%

Value ($000) $11,770 (+19.8%) Shares 490,000 (+22.5%) Est. Cost $22.17 Unrealized +5.7%

LB LANDBRIDGE CO LL 0.5%

Value ($000) $3,919 (+83.7%) Shares 80,000 (+100.0%) Est. Cost $56.65 Unrealized +2.6%

VZ VERIZON COMMUNIC 1.6%

Value ($000) $14,133 (+12.4%) Shares 347,000 (+21.3%) Est. Cost $38.79 Unrealized +4.4%

PEP PEPSICO INC 2.3%

Value ($000) $19,949 (+8.4%) Shares 139,000 (+6.1%) Est. Cost $138.95 Unrealized +5.0%

TRGP TARGA RESOURCES 0.7%

Value ($000) $5,720 (+36.6%) Shares 31,000 (+24.0%) Est. Cost $86.32 Unrealized +94.7%

ORI OLD REPUB INTL 1.1%

Value ($000) $9,128 (+19.4%) Shares 200,000 (+11.1%) Est. Cost $24.96 Unrealized +63.6%

KMB KIMBERLY-CLARK 0.9%

Value ($000) $8,172 (-13.5%) Shares 81,000 (+6.6%) Est. Cost $104.33 Unrealized +3.9%

PG PROCTER & GAMBLE 0.5%

Value ($000) $4,013 (+45.1%) Shares 28,000 (+55.6%) Est. Cost $126.20 Unrealized +16.6%

KGS KODIAK GAS SERVI 0.7%

Value ($000) $5,872 (+25.1%) Shares 157,000 (+23.6%) Est. Cost $32.13 Unrealized +10.1%

SBUX STARBUCKS CORP 0.5%

Value ($000) $4,379 (+29.4%) Shares 52,000 (+30.0%) Est. Cost $77.82 Unrealized +8.0%

VG VENTURE GLOBAL-A 0.1%

Value ($000) $1,023 (-48.5%) Shares 150,000 (+7.1%) Est. Cost $13.80 Unrealized -39.8%

HD HOME DEPOT INC 1.1%

Value ($000) $9,635 (-8.5%) Shares 28,000 (+7.7%) Est. Cost $290.14 Unrealized +25.7%

BTI BRIT AMER TO-ADR 1.2%

Value ($000) $10,758 (+7.8%) Shares 190,000 (+1.1%) Est. Cost $38.68 Unrealized —

AROC ARCHROCK INC 0.7%

Value ($000) $5,724 (+14.5%) Shares 220,000 (+15.8%) Est. Cost $24.41 Unrealized +0.9%

ALL ALLSTATE CORP 0.7%

Value ($000) $5,828 (+8.6%) Shares 28,000 (+12.0%) Est. Cost $198.48 Unrealized +2.8%

T AT&T INC 1.4%

Value ($000) $12,296 (+2.4%) Shares 495,000 (+16.5%) Est. Cost $21.89 Unrealized +15.5%

TSLA TESLA INC 0.2%

Value ($000) $2,024 (+13.8%) Shares 4,500 (+12.5%) Est. Cost $253.56 Unrealized +74.8%

GEV GE VERNOVA INC 0.2%

Value ($000) $1,961 (+13.9%) Shares 3,000 (+7.1%) Est. Cost $365.54 Unrealized +66.6%

LPG DORIAN LPG LTD 0.1%

Value ($000) $438 (+63.4%) Shares 18,000 (+100.0%) Est. Cost $27.10 Unrealized -3.3%

SOBO SOUTH BOW CORP 0.0%

Value ($000) $330 (+94.2%) Shares 12,000 (+100.0%) Est. Cost $26.33 Unrealized +3.2%

VST VISTRA CORP 0.5%

Value ($000) $4,033 (-2.0%) Shares 25,000 (+19.0%) Est. Cost $132.46 Unrealized +37.3%

PAYX PAYCHEX INC 0.6%

Value ($000) $5,385 (-1.2%) Shares 48,000 (+11.6%) Est. Cost $116.82 Unrealized -0.2%

MO ALTRIA GROUP INC 1.3%

Value ($000) $11,647 (-0.4%) Shares 202,000 (+14.1%) Est. Cost $38.87 Unrealized +52.7%

LYB LYONDELLBASELL-A 0.0%

Value ($000) $260 (+6.0%) Shares 6,000 (+20.0%) Est. Cost $65.81 Unrealized -32.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BBY	BEST BUY CO INC	155,000 (+3000.0%)	$10,374 (+2643.8%)	1.2%	$75.25	+0.3%	Common Stock	086516101
AFG	AMER FINL GROUP	101,000 (+146.3%)	$13,805 (+131.1%)	1.6%	$128.47	+4.0%	Common Stock	025932104
TPL	TEXAS PACIFIC LA	18,900 (+845.0%)	$5,428 (+190.7%)	0.6%	$301.44	+1.2%	Common Stock	88262P102
CME	CME GROUP INC	51,600 (+22.9%)	$14,091 (+24.2%)	1.6%	$245.70	+10.2%	Common Stock	12572Q105
ENB	ENBRIDGE INC	236,000 (+35.2%)	$11,288 (+28.2%)	1.3%	$37.42	+25.9%	Common Stock	29250N105
LNG	CHENIERE ENERGY	45,000 (+66.7%)	$8,748 (+37.9%)	1.0%	$138.86	+51.2%	Common Stock	16411R208
HPE	HEWLETT PACKA	490,000 (+22.5%)	$11,770 (+19.8%)	1.4%	$22.17	+5.7%	Common Stock	42824C109
LB	LANDBRIDGE CO LL	80,000 (+100.0%)	$3,919 (+83.7%)	0.5%	$56.65	+2.6%	CL A	514952100
VZ	VERIZON COMMUNIC	347,000 (+21.3%)	$14,133 (+12.4%)	1.6%	$38.79	+4.4%	Common Stock	92343V104
PEP	PEPSICO INC	139,000 (+6.1%)	$19,949 (+8.4%)	2.3%	$138.95	+5.0%	Common Stock	713448108
TRGP	TARGA RESOURCES	31,000 (+24.0%)	$5,720 (+36.6%)	0.7%	$86.32	+94.7%	Common Stock	87612G101
ORI	OLD REPUB INTL	200,000 (+11.1%)	$9,128 (+19.4%)	1.1%	$24.96	+63.6%	Common Stock	680223104
KMB	KIMBERLY-CLARK	81,000 (+6.6%)	$8,172 (-13.5%)	0.9%	$104.33	+3.9%	Common Stock	494368103
PG	PROCTER & GAMBLE	28,000 (+55.6%)	$4,013 (+45.1%)	0.5%	$126.20	+16.6%	Common Stock	742718109
KGS	KODIAK GAS SERVI	157,000 (+23.6%)	$5,872 (+25.1%)	0.7%	$32.13	+10.1%	Common Stock	50012A108
SBUX	STARBUCKS CORP	52,000 (+30.0%)	$4,379 (+29.4%)	0.5%	$77.82	+8.0%	Common Stock	855244109
VG	VENTURE GLOBAL-A	150,000 (+7.1%)	$1,023 (-48.5%)	0.1%	$13.80	-39.8%	COM CL A	92333F101
HD	HOME DEPOT INC	28,000 (+7.7%)	$9,635 (-8.5%)	1.1%	$290.14	+25.7%	Common Stock	437076102
BTI	BRIT AMER TO-ADR	190,000 (+1.1%)	$10,758 (+7.8%)	1.2%	$38.68	—	SPONSORED ADR	110448107
AROC	ARCHROCK INC	220,000 (+15.8%)	$5,724 (+14.5%)	0.7%	$24.41	+0.9%	Common Stock	03957W106
ALL	ALLSTATE CORP	28,000 (+12.0%)	$5,828 (+8.6%)	0.7%	$198.48	+2.8%	Common Stock	020002101
T	AT&T INC	495,000 (+16.5%)	$12,296 (+2.4%)	1.4%	$21.89	+15.5%	Common Stock	00206R102
TSLA	TESLA INC	4,500 (+12.5%)	$2,024 (+13.8%)	0.2%	$253.56	+74.8%	Common Stock	88160R101
GEV	GE VERNOVA INC	3,000 (+7.1%)	$1,961 (+13.9%)	0.2%	$365.54	+66.6%	Common Stock	36828A101
LPG	DORIAN LPG LTD	18,000 (+100.0%)	$438 (+63.4%)	0.1%	$27.10	-3.3%	SHS USD	Y2106R110
SOBO	SOUTH BOW CORP	12,000 (+100.0%)	$330 (+94.2%)	0.0%	$26.33	+3.2%	Common Stock	83671M105
VST	VISTRA CORP	25,000 (+19.0%)	$4,033 (-2.0%)	0.5%	$132.46	+37.3%	Common Stock	92840M102
PAYX	PAYCHEX INC	48,000 (+11.6%)	$5,385 (-1.2%)	0.6%	$116.82	-0.2%	Common Stock	704326107
MO	ALTRIA GROUP INC	202,000 (+14.1%)	$11,647 (-0.4%)	1.3%	$38.87	+52.7%	Common Stock	02209S103
LYB	LYONDELLBASELL-A	6,000 (+20.0%)	$260 (+6.0%)	0.0%	$65.81	-32.5%	SHS -A-	N53745100

Exited Positions (11)

PBA PEMBINA PIPELINE 0.3%

Value ($000) $2,832 Shares 70,000 Est. Cost $28.57 Unrealized +34.6%

CTRA COTERRA ENERGY CORP 0.2%

Value ($000) $1,656 Shares 70,000 Est. Cost $23.42 Unrealized +7.2%

MOD MODINE MFG CO 0.1%

Value ($000) $1,137 Shares 8,000 Est. Cost $98.54 Unrealized +51.2%

PWR QUANTA SERVICES 0.1%

Value ($000) $1,036 Shares 2,500 Est. Cost $288.64 Unrealized +52.2%

PTEN PATTERSON-UTI 0.1%

Value ($000) $518 Shares 100,000 Est. Cost $11.76 Unrealized -49.2%

AES AES CORP 0.0%

Value ($000) $395 Shares 30,000 Est. Cost $13.90 Unrealized +0.9%

— DIVERSIFIED ENER 0.0%

Value ($000) $210 Shares 15,000 Est. Cost $14.01 Unrealized —

BCE BCE INC 0.0%

Value ($000) $140 Shares 6,000 Est. Cost $31.30 Unrealized -26.4%

TDG TRANSDIGM GROUP 0.0%

Value ($000) $132 Shares 100 Est. Cost $1364.80 Unrealized -4.0%

WHR WHIRLPOOL CORP 0.0%

Value ($000) $118 Shares 1,500 Est. Cost $103.04 Unrealized -28.4%

WEN WENDY'S CO/THE 0.0%

Value ($000) $110 Shares 12,000 Est. Cost $14.76 Unrealized -41.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PBA	PEMBINA PIPELINE	70,000	$2,832	0.3%	$28.57	+34.6%	—	706327103
CTRA	COTERRA ENERGY CORP	70,000	$1,656	0.2%	$23.42	+7.2%	—	127097103
MOD	MODINE MFG CO	8,000	$1,137	0.1%	$98.54	+51.2%	—	607828100
PWR	QUANTA SERVICES	2,500	$1,036	0.1%	$288.64	+52.2%	—	74762E102
PTEN	PATTERSON-UTI	100,000	$518	0.1%	$11.76	-49.2%	—	703481101
AES	AES CORP	30,000	$395	0.0%	$13.90	+0.9%	—	00130H105
—	DIVERSIFIED ENER	15,000	$210	0.0%	$14.01	—	—	G2891G204
BCE	BCE INC	6,000	$140	0.0%	$31.30	-26.4%	—	05534B760
TDG	TRANSDIGM GROUP	100	$132	0.0%	$1364.80	-4.0%	—	893641100
WHR	WHIRLPOOL CORP	1,500	$118	0.0%	$103.04	-28.4%	—	963320106
WEN	WENDY'S CO/THE	12,000	$110	0.0%	$14.76	-41.5%	—	95058W100

Decreased Positions (25)

XOM EXXON MOBIL CORP 1.1%

Value ($000) $9,627 (-31.7%) Shares 80,000 (-36.0%) Est. Cost $93.34 Unrealized +23.7%

APD AIR PRODS & CHEM 0.3%

Value ($000) $2,717 (-61.7%) Shares 11,000 (-57.7%) Est. Cost $233.05 Unrealized +8.0%

NEE NEXTERA ENERGY 3.0%

Value ($000) $26,091 (-12.5%) Shares 325,000 (-17.7%) Est. Cost $63.98 Unrealized +28.9%

XEL XCEL ENERGY INC 1.6%

Value ($000) $14,033 (-20.9%) Shares 190,000 (-13.6%) Est. Cost $57.85 Unrealized +35.3%

DELL DELL TECHN-C 0.6%

Value ($000) $5,413 (-33.0%) Shares 43,000 (-24.6%) Est. Cost $118.55 Unrealized +18.7%

LRCX LAM RESEARCH 0.8%

Value ($000) $6,847 (-26.9%) Shares 40,000 (-42.9%) Est. Cost $74.98 Unrealized +107.2%

NVDA NVIDIA CORP 1.2%

Value ($000) $10,258 (-15.4%) Shares 55,000 (-15.4%) Est. Cost $91.94 Unrealized +102.4%

C CITIGROUP INC 1.3%

Value ($000) $11,436 (-13.3%) Shares 98,000 (-24.6%) Est. Cost $66.09 Unrealized +56.8%

KVUE KENVUE INC 1.0%

Value ($000) $8,625 (-12.2%) Shares 500,000 (-17.4%) Est. Cost $20.73 Unrealized -21.6%

ABBV ABBVIE INC 1.9%

Value ($000) $16,680 (-6.4%) Shares 73,000 (-5.2%) Est. Cost $90.63 Unrealized +151.1%

ETR ENTERGY CORP 2.2%

Value ($000) $19,410 (-5.3%) Shares 210,000 (-4.5%) Est. Cost $69.53 Unrealized +36.0%

VRT VERTIV HOLDING-A 0.5%

Value ($000) $4,212 (-15.4%) Shares 26,000 (-21.2%) Est. Cost $97.64 Unrealized +77.8%

AR ANTERO RESOURCES 0.5%

Value ($000) $4,135 (-15.0%) Shares 120,000 (-17.2%) Est. Cost $30.01 Unrealized +12.8%

JPM JPMORGAN CHASE 1.3%

Value ($000) $11,600 (-5.7%) Shares 36,000 (-7.7%) Est. Cost $97.73 Unrealized +216.7%

NRG NRG ENERGY INC 0.6%

Value ($000) $5,096 (-10.1%) Shares 32,000 (-8.6%) Est. Cost $97.86 Unrealized +68.9%

AVGO BROADCOM INC 3.6%

Value ($000) $30,803 (-1.7%) Shares 89,000 (-6.3%) Est. Cost $145.35 Unrealized +145.6%

LLY ELI LILLY & CO 1.0%

Value ($000) $8,920 (+6.3%) Shares 8,300 (-24.5%) Est. Cost $742.24 Unrealized +28.7%

PRIM PRIMORIS SERVICE 0.2%

Value ($000) $2,110 (-14.6%) Shares 17,000 (-5.6%) Est. Cost $70.04 Unrealized +86.4%

BHP BHP GROUP-ADR 0.0%

Value ($000) $302 (-45.9%) Shares 5,000 (-50.0%) Est. Cost $55.04 Unrealized —

MS MORGAN STANLEY 1.9%

Value ($000) $15,978 (-1.5%) Shares 90,000 (-11.8%) Est. Cost $80.42 Unrealized +107.0%

FSLR FIRST SOLAR INC 0.5%

Value ($000) $4,180 (-5.2%) Shares 16,000 (-20.0%) Est. Cost $182.59 Unrealized +38.1%

PR PERMIAN RESOURCE 1.1%

Value ($000) $9,695 (+2.2%) Shares 691,000 (-6.7%) Est. Cost $13.84 Unrealized -3.0%

RIO RIO TINTO-ADR 0.0%

Value ($000) $320 (-30.7%) Shares 4,000 (-42.9%) Est. Cost $66.56 Unrealized —

NXT NEXTRACKER-CL A 0.2%

Value ($000) $1,655 (+1.7%) Shares 19,000 (-13.6%) Est. Cost $47.49 Unrealized +90.9%

SHLS SHOALS TECHNOL-A 0.1%

Value ($000) $1,105 (-0.6%) Shares 130,000 (-13.3%) Est. Cost $17.80 Unrealized -49.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORP	80,000 (-36.0%)	$9,627 (-31.7%)	1.1%	$93.34	+23.7%	Common Stock	30231G102
APD	AIR PRODS & CHEM	11,000 (-57.7%)	$2,717 (-61.7%)	0.3%	$233.05	+8.0%	Common Stock	009158106
NEE	NEXTERA ENERGY	325,000 (-17.7%)	$26,091 (-12.5%)	3.0%	$63.98	+28.9%	Common Stock	65339F101
XEL	XCEL ENERGY INC	190,000 (-13.6%)	$14,033 (-20.9%)	1.6%	$57.85	+35.3%	Common Stock	98389B100
DELL	DELL TECHN-C	43,000 (-24.6%)	$5,413 (-33.0%)	0.6%	$118.55	+18.7%	CL C	24703L202
LRCX	LAM RESEARCH	40,000 (-42.9%)	$6,847 (-26.9%)	0.8%	$74.98	+107.2%	Common Stock	512807306
NVDA	NVIDIA CORP	55,000 (-15.4%)	$10,258 (-15.4%)	1.2%	$91.94	+102.4%	Common Stock	67066G104
C	CITIGROUP INC	98,000 (-24.6%)	$11,436 (-13.3%)	1.3%	$66.09	+56.8%	Common Stock	172967424
KVUE	KENVUE INC	500,000 (-17.4%)	$8,625 (-12.2%)	1.0%	$20.73	-21.6%	Common Stock	49177J102
ABBV	ABBVIE INC	73,000 (-5.2%)	$16,680 (-6.4%)	1.9%	$90.63	+151.1%	Common Stock	00287Y109
ETR	ENTERGY CORP	210,000 (-4.5%)	$19,410 (-5.3%)	2.2%	$69.53	+36.0%	Common Stock	29364G103
VRT	VERTIV HOLDING-A	26,000 (-21.2%)	$4,212 (-15.4%)	0.5%	$97.64	+77.8%	COM CL A	92537N108
AR	ANTERO RESOURCES	120,000 (-17.2%)	$4,135 (-15.0%)	0.5%	$30.01	+12.8%	Common Stock	03674X106
JPM	JPMORGAN CHASE	36,000 (-7.7%)	$11,600 (-5.7%)	1.3%	$97.73	+216.7%	Common Stock	46625H100
NRG	NRG ENERGY INC	32,000 (-8.6%)	$5,096 (-10.1%)	0.6%	$97.86	+68.9%	Common Stock	629377508
AVGO	BROADCOM INC	89,000 (-6.3%)	$30,803 (-1.7%)	3.6%	$145.35	+145.6%	Common Stock	11135F101
LLY	ELI LILLY & CO	8,300 (-24.5%)	$8,920 (+6.3%)	1.0%	$742.24	+28.7%	Common Stock	532457108
PRIM	PRIMORIS SERVICE	17,000 (-5.6%)	$2,110 (-14.6%)	0.2%	$70.04	+86.4%	Common Stock	74164F103
BHP	BHP GROUP-ADR	5,000 (-50.0%)	$302 (-45.9%)	0.0%	$55.04	—	SPONSORED ADS	088606108
MS	MORGAN STANLEY	90,000 (-11.8%)	$15,978 (-1.5%)	1.9%	$80.42	+107.0%	Common Stock	617446448
FSLR	FIRST SOLAR INC	16,000 (-20.0%)	$4,180 (-5.2%)	0.5%	$182.59	+38.1%	Common Stock	336433107
PR	PERMIAN RESOURCE	691,000 (-6.7%)	$9,695 (+2.2%)	1.1%	$13.84	-3.0%	CLASS A COM	71424F105
RIO	RIO TINTO-ADR	4,000 (-42.9%)	$320 (-30.7%)	0.0%	$66.56	—	SPONSORED ADR	767204100
NXT	NEXTRACKER-CL A	19,000 (-13.6%)	$1,655 (+1.7%)	0.2%	$47.49	+90.9%	CLASS A COM	65290E101
SHLS	SHOALS TECHNOL-A	130,000 (-13.3%)	$1,105 (-0.6%)	0.1%	$17.80	-49.5%	CL A	82489W107

Unchanged Positions (75)

BMY BRISTOL-MYER SQB 2.0%

Value ($000) $17,315 Shares 321,000 Est. Cost $55.18 Unrealized -13.9%

MRK MERCK & CO 1.2%

Value ($000) $10,526 Shares 100,000 Est. Cost $79.54 Unrealized +17.2%

GLW CORNING INC 2.3%

Value ($000) $20,139 Shares 230,000 Est. Cost $35.14 Unrealized +144.7%

PRU PRUDENTL FINL 1.6%

Value ($000) $13,997 Shares 124,000 Est. Cost $82.59 Unrealized +29.0%

DOCN DIGITALOCEAN HOL 0.4%

Value ($000) $3,609 Shares 75,000 Est. Cost $37.76 Unrealized +16.6%

UPS UNITED PARCEL-B 0.7%

Value ($000) $5,852 Shares 59,000 Est. Cost $132.86 Unrealized -30.2%

AMD ADV MICRO DEVICE 0.4%

Value ($000) $3,641 Shares 17,000 Est. Cost $21.08 Unrealized +965.4%

GPC GENUINE PARTS CO 0.8%

Value ($000) $6,763 Shares 55,000 Est. Cost $117.31 Unrealized +9.7%

KLAC KLA-TENCOR CORP 0.8%

Value ($000) $7,290 Shares 6,000 Est. Cost $326.45 Unrealized +259.0%

TGT TARGET CORP 1.0%

Value ($000) $8,602 Shares 88,000 Est. Cost $117.53 Unrealized -22.0%

GPOR GULFPORT ENERGY 0.6%

Value ($000) $4,992 Shares 24,000 Est. Cost $164.05 Unrealized +21.5%

BAC BANK OF AMERICA 1.1%

Value ($000) $9,900 Shares 180,000 Est. Cost $29.41 Unrealized +79.1%

PSX PHILLIPS 66 1.3%

Value ($000) $11,226 Shares 87,000 Est. Cost $110.62 Unrealized +21.1%

BLK BLACKROCK INC 0.6%

Value ($000) $5,352 Shares 5,000 Est. Cost $991.05 Unrealized +9.9%

TMO THERMO FISHER 0.3%

Value ($000) $2,897 Shares 5,000 Est. Cost $143.74 Unrealized +293.2%

MNDY MONDAY.COM LTD 0.2%

Value ($000) $1,476 Shares 10,000 Est. Cost $256.89 Unrealized -34.4%

BKR BAKER HUGHES A 0.8%

Value ($000) $6,558 Shares 144,000 Est. Cost $30.58 Unrealized +54.8%

CVX CHEVRON CORP 2.7%

Value ($000) $23,090 Shares 151,500 Est. Cost $143.10 Unrealized +5.8%

ACN ACCENTURE PLC-A 0.6%

Value ($000) $5,366 Shares 20,000 Est. Cost $260.61 Unrealized -2.5%

KO COCA-COLA CO/THE 1.0%

Value ($000) $8,389 Shares 120,000 Est. Cost $54.07 Unrealized +28.3%

CAT CATERPILLAR INC 0.3%

Value ($000) $2,291 Shares 4,000 Est. Cost $166.68 Unrealized +233.3%

FDX FEDEX CORP 0.2%

Value ($000) $2,022 Shares 7,000 Est. Cost $206.07 Unrealized +26.9%

NET CLOUDFLARE INC-A 0.5%

Value ($000) $4,140 Shares 21,000 Est. Cost $80.68 Unrealized +162.2%

AAPL APPLE INC 0.7%

Value ($000) $5,709 Shares 21,000 Est. Cost $100.16 Unrealized +167.9%

TT TRANE TECHNOLOGI 0.5%

Value ($000) $4,281 Shares 11,000 Est. Cost $117.25 Unrealized +252.7%

EVRG EVERGY INC 0.8%

Value ($000) $7,249 Shares 100,000 Est. Cost $63.61 Unrealized +18.6%

QCOM QUALCOMM INC 1.5%

Value ($000) $12,829 Shares 75,000 Est. Cost $113.28 Unrealized +50.8%

IBM IBM 0.8%

Value ($000) $7,109 Shares 24,000 Est. Cost $121.51 Unrealized +145.9%

TXN TEXAS INSTRUMENT 0.6%

Value ($000) $5,552 Shares 32,000 Est. Cost $137.24 Unrealized +24.4%

TRP TC Energy Corp 3.5%

Value ($000) $29,815 Shares 542,000 Est. Cost $43.85 Unrealized +21.7%

SLB SCHLUMBERGER LTD 0.4%

Value ($000) $3,070 Shares 80,000 Est. Cost $45.84 Unrealized -21.3%

EE EXCELERATE ENE-A 0.3%

Value ($000) $2,525 Shares 90,000 Est. Cost $20.24 Unrealized +33.5%

ITW ILLINOIS TOOL WO 0.5%

Value ($000) $4,187 Shares 17,000 Est. Cost $192.57 Unrealized +28.6%

LMT LOCKHEED MARTIN 0.8%

Value ($000) $7,255 Shares 15,000 Est. Cost $367.75 Unrealized +29.5%

— CYBERARK SOFTWAR 0.3%

Value ($000) $2,676 Shares 6,000 Est. Cost $372.44 Unrealized —

VLO VALERO ENERGY 0.5%

Value ($000) $4,721 Shares 29,000 Est. Cost $107.87 Unrealized +56.5%

MSFT MICROSOFT CORP 0.3%

Value ($000) $2,902 Shares 6,000 Est. Cost $222.90 Unrealized +124.6%

PEG PUB SERV ENTERP 0.6%

Value ($000) $5,220 Shares 65,000 Est. Cost $82.72 Unrealized -2.0%

FTI TECHNIPFMC PLC 0.2%

Value ($000) $1,782 Shares 40,000 Est. Cost $29.81 Unrealized +41.6%

MKC MCCORMICK-N/V 1.2%

Value ($000) $10,217 Shares 150,000 Est. Cost $69.05 Unrealized -4.5%

SPGI S&P GLOBAL INC 0.3%

Value ($000) $2,613 Shares 5,000 Est. Cost $203.86 Unrealized +142.4%

PFE PFIZER INC 1.0%

Value ($000) $8,354 Shares 335,500 Est. Cost $26.61 Unrealized -5.9%

EW EDWARDS LIFE 0.2%

Value ($000) $1,705 Shares 20,000 Est. Cost $75.41 Unrealized +8.8%

V VISA INC-CLASS A 0.6%

Value ($000) $5,261 Shares 15,000 Est. Cost $147.75 Unrealized +130.4%

TYL TYLER TECHNOLOG 0.1%

Value ($000) $908 Shares 2,000 Est. Cost $561.33 Unrealized -15.1%

CCJ CAMECO CORP 0.2%

Value ($000) $1,555 Shares 17,000 Est. Cost $53.26 Unrealized +68.9%

CSCO CISCO SYSTEMS 0.1%

Value ($000) $1,155 Shares 15,000 Est. Cost $42.55 Unrealized +73.4%

GNRC GENERAC HOLDINGS 0.1%

Value ($000) $545 Shares 4,000 Est. Cost $264.49 Unrealized -39.0%

EXE EXPAND ENERGY CORP 0.4%

Value ($000) $3,311 Shares 30,000 Est. Cost $102.44 Unrealized +8.0%

FANG DIAMONDBACK ENER 0.3%

Value ($000) $2,556 Shares 17,000 Est. Cost $114.68 Unrealized +28.2%

INTU INTUIT INC 0.4%

Value ($000) $3,312 Shares 5,000 Est. Cost $323.15 Unrealized +104.5%

LOW LOWE'S COS INC 0.3%

Value ($000) $2,412 Shares 10,000 Est. Cost $84.51 Unrealized +183.8%

CEG CONSTELLATION EN 0.2%

Value ($000) $1,413 Shares 4,000 Est. Cost $278.42 Unrealized +30.5%

UNH UNITEDHEALTH GRP 0.2%

Value ($000) $1,981 Shares 6,000 Est. Cost $360.18 Unrealized -6.4%

EXC EXELON CORP 0.3%

Value ($000) $2,615 Shares 60,000 Est. Cost $30.42 Unrealized +49.4%

PNC PNC FINANCIAL SE 0.2%

Value ($000) $2,087 Shares 10,000 Est. Cost $125.28 Unrealized +53.9%

TS TENARIS-ADR 0.1%

Value ($000) $1,077 Shares 28,000 Est. Cost $32.79 Unrealized —

SR SPIRE INC 0.6%

Value ($000) $4,962 Shares 60,000 Est. Cost $81.52 Unrealized —

PM PHILIP MORRIS IN 0.7%

Value ($000) $5,614 Shares 35,000 Est. Cost $67.86 Unrealized +126.3%

KMI KINDER MORGAN IN 0.2%

Value ($000) $2,062 Shares 75,000 Est. Cost $16.48 Unrealized +63.3%

EQT EQT CORP 0.4%

Value ($000) $3,752 Shares 70,000 Est. Cost $43.90 Unrealized +27.8%

XPRO EXPRO GROUP HOLD 0.0%

Value ($000) $401 Shares 30,000 Est. Cost $19.02 Unrealized -29.1%

CALM CAL-MAINE FOODS 0.0%

Value ($000) $239 Shares 3,000 Est. Cost $103.42 Unrealized -16.3%

DE DEERE & CO 0.3%

Value ($000) $2,328 Shares 5,000 Est. Cost $214.92 Unrealized +117.6%

MCD MCDONALDS CORP 0.7%

Value ($000) $6,113 Shares 20,000 Est. Cost $240.16 Unrealized +27.0%

COP CONOCOPHILLIPS 0.3%

Value ($000) $2,527 Shares 27,000 Est. Cost $99.90 Unrealized -9.9%

POR PORTLAND GENERAL 0.0%

Value ($000) $264 Shares 5,500 Est. Cost $42.98 Unrealized +8.8%

UNM UNUM GROUP 0.6%

Value ($000) $5,425 Shares 70,000 Est. Cost $68.94 Unrealized +10.9%

ES EVERSOURCE ENERG 0.0%

Value ($000) $269 Shares 4,000 Est. Cost $60.33 Unrealized +15.3%

WM WASTE MANAGEMENT 0.3%

Value ($000) $2,856 Shares 13,000 Est. Cost $83.25 Unrealized +155.3%

MA MASTERCARD INC-A 0.5%

Value ($000) $3,996 Shares 7,000 Est. Cost $312.75 Unrealized +78.7%

TFC TRUIST FINANCIAL 0.0%

Value ($000) $148 Shares 3,000 Est. Cost $42.69 Unrealized +7.3%

D DOMINION ENERGY INC 0.0%

Value ($000) $205 Shares 3,500 Est. Cost $51.41 Unrealized +16.2%

RF REGIONS FINANCIA 0.0%

Value ($000) $325 Shares 12,000 Est. Cost $23.32 Unrealized +8.8%

NE NOBLE CORP PLC 0.0%

Value ($000) $424 Shares 15,000 Est. Cost $22.94 Unrealized +27.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BMY	BRISTOL-MYER SQB	321,000	$17,315	2.0%	$55.18	-13.9%	Common Stock	110122108
MRK	MERCK & CO	100,000	$10,526	1.2%	$79.54	+17.2%	Common Stock	58933Y105
GLW	CORNING INC	230,000	$20,139	2.3%	$35.14	+144.7%	Common Stock	219350105
PRU	PRUDENTL FINL	124,000	$13,997	1.6%	$82.59	+29.0%	Common Stock	744320102
DOCN	DIGITALOCEAN HOL	75,000	$3,609	0.4%	$37.76	+16.6%	Common Stock	25402D102
UPS	UNITED PARCEL-B	59,000	$5,852	0.7%	$132.86	-30.2%	CL B	911312106
AMD	ADV MICRO DEVICE	17,000	$3,641	0.4%	$21.08	+965.4%	Common Stock	007903107
GPC	GENUINE PARTS CO	55,000	$6,763	0.8%	$117.31	+9.7%	Common Stock	372460105
KLAC	KLA-TENCOR CORP	6,000	$7,290	0.8%	$326.45	+259.0%	Common Stock	482480100
TGT	TARGET CORP	88,000	$8,602	1.0%	$117.53	-22.0%	Common Stock	87612E106
GPOR	GULFPORT ENERGY	24,000	$4,992	0.6%	$164.05	+21.5%	SHS	402635502
BAC	BANK OF AMERICA	180,000	$9,900	1.1%	$29.41	+79.1%	Common Stock	060505104
PSX	PHILLIPS 66	87,000	$11,226	1.3%	$110.62	+21.1%	Common Stock	718546104
BLK	BLACKROCK INC	5,000	$5,352	0.6%	$991.05	+9.9%	Common Stock	09290D101
TMO	THERMO FISHER	5,000	$2,897	0.3%	$143.74	+293.2%	Common Stock	883556102
MNDY	MONDAY.COM LTD	10,000	$1,476	0.2%	$256.89	-34.4%	SHS	M7S64H106
BKR	BAKER HUGHES A	144,000	$6,558	0.8%	$30.58	+54.8%	CL A	05722G100
CVX	CHEVRON CORP	151,500	$23,090	2.7%	$143.10	+5.8%	Common Stock	166764100
ACN	ACCENTURE PLC-A	20,000	$5,366	0.6%	$260.61	-2.5%	SHS CLASS A	G1151C101
KO	COCA-COLA CO/THE	120,000	$8,389	1.0%	$54.07	+28.3%	Common Stock	191216100
CAT	CATERPILLAR INC	4,000	$2,291	0.3%	$166.68	+233.3%	Common Stock	149123101
FDX	FEDEX CORP	7,000	$2,022	0.2%	$206.07	+26.9%	Common Stock	31428X106
NET	CLOUDFLARE INC-A	21,000	$4,140	0.5%	$80.68	+162.2%	CL A COM	18915M107
AAPL	APPLE INC	21,000	$5,709	0.7%	$100.16	+167.9%	Common Stock	037833100
TT	TRANE TECHNOLOGI	11,000	$4,281	0.5%	$117.25	+252.7%	SHS	G8994E103
EVRG	EVERGY INC	100,000	$7,249	0.8%	$63.61	+18.6%	Common Stock	30034W106
QCOM	QUALCOMM INC	75,000	$12,829	1.5%	$113.28	+50.8%	Common Stock	747525103
IBM	IBM	24,000	$7,109	0.8%	$121.51	+145.9%	Common Stock	459200101
TXN	TEXAS INSTRUMENT	32,000	$5,552	0.6%	$137.24	+24.4%	Common Stock	882508104
TRP	TC Energy Corp	542,000	$29,815	3.5%	$43.85	+21.7%	Common Stock	87807B107
SLB	SCHLUMBERGER LTD	80,000	$3,070	0.4%	$45.84	-21.3%	COM STK	806857108
EE	EXCELERATE ENE-A	90,000	$2,525	0.3%	$20.24	+33.5%	CL A COM	30069T101
ITW	ILLINOIS TOOL WO	17,000	$4,187	0.5%	$192.57	+28.6%	Common Stock	452308109
LMT	LOCKHEED MARTIN	15,000	$7,255	0.8%	$367.75	+29.5%	Common Stock	539830109
—	CYBERARK SOFTWAR	6,000	$2,676	0.3%	$372.44	—	SHS	M2682V108
VLO	VALERO ENERGY	29,000	$4,721	0.5%	$107.87	+56.5%	Common Stock	91913Y100
MSFT	MICROSOFT CORP	6,000	$2,902	0.3%	$222.90	+124.6%	Common Stock	594918104
PEG	PUB SERV ENTERP	65,000	$5,220	0.6%	$82.72	-2.0%	Common Stock	744573106
FTI	TECHNIPFMC PLC	40,000	$1,782	0.2%	$29.81	+41.6%	Common Stock	G87110105
MKC	MCCORMICK-N/V	150,000	$10,217	1.2%	$69.05	-4.5%	Common NON VTG	579780206
SPGI	S&P GLOBAL INC	5,000	$2,613	0.3%	$203.86	+142.4%	Common Stock	78409V104
PFE	PFIZER INC	335,500	$8,354	1.0%	$26.61	-5.9%	Common Stock	717081103
EW	EDWARDS LIFE	20,000	$1,705	0.2%	$75.41	+8.8%	Common Stock	28176E108
V	VISA INC-CLASS A	15,000	$5,261	0.6%	$147.75	+130.4%	COM CL A	92826C839
TYL	TYLER TECHNOLOG	2,000	$908	0.1%	$561.33	-15.1%	Common Stock	902252105
CCJ	CAMECO CORP	17,000	$1,555	0.2%	$53.26	+68.9%	Common Stock	13321L108
CSCO	CISCO SYSTEMS	15,000	$1,155	0.1%	$42.55	+73.4%	Common Stock	17275R102
GNRC	GENERAC HOLDINGS	4,000	$545	0.1%	$264.49	-39.0%	Common Stock	368736104
EXE	EXPAND ENERGY CORP	30,000	$3,311	0.4%	$102.44	+8.0%	Common Stock	165167735
FANG	DIAMONDBACK ENER	17,000	$2,556	0.3%	$114.68	+28.2%	Common Stock	25278X109
INTU	INTUIT INC	5,000	$3,312	0.4%	$323.15	+104.5%	Common Stock	461202103
LOW	LOWE'S COS INC	10,000	$2,412	0.3%	$84.51	+183.8%	Common Stock	548661107
CEG	CONSTELLATION EN	4,000	$1,413	0.2%	$278.42	+30.5%	Common Stock	21037T109
UNH	UNITEDHEALTH GRP	6,000	$1,981	0.2%	$360.18	-6.4%	Common Stock	91324P102
EXC	EXELON CORP	60,000	$2,615	0.3%	$30.42	+49.4%	Common Stock	30161N101
PNC	PNC FINANCIAL SE	10,000	$2,087	0.2%	$125.28	+53.9%	Common Stock	693475105
TS	TENARIS-ADR	28,000	$1,077	0.1%	$32.79	—	SPONSORED ADS	88031M109
SR	SPIRE INC	60,000	$4,962	0.6%	$81.52	—	Common Stock	84857L101
PM	PHILIP MORRIS IN	35,000	$5,614	0.7%	$67.86	+126.3%	Common Stock	718172109
KMI	KINDER MORGAN IN	75,000	$2,062	0.2%	$16.48	+63.3%	Common Stock	49456B101
EQT	EQT CORP	70,000	$3,752	0.4%	$43.90	+27.8%	Common Stock	26884L109
XPRO	EXPRO GROUP HOLD	30,000	$401	0.0%	$19.02	-29.1%	Common Stock	N3144W105
CALM	CAL-MAINE FOODS	3,000	$239	0.0%	$103.42	-16.3%	Common Stock	128030202
DE	DEERE & CO	5,000	$2,328	0.3%	$214.92	+117.6%	Common Stock	244199105
MCD	MCDONALDS CORP	20,000	$6,113	0.7%	$240.16	+27.0%	Common Stock	580135101
COP	CONOCOPHILLIPS	27,000	$2,527	0.3%	$99.90	-9.9%	Common Stock	20825C104
POR	PORTLAND GENERAL	5,500	$264	0.0%	$42.98	+8.8%	Common Stock	736508847
UNM	UNUM GROUP	70,000	$5,425	0.6%	$68.94	+10.9%	Common Stock	91529Y106
ES	EVERSOURCE ENERG	4,000	$269	0.0%	$60.33	+15.3%	Common Stock	30040W108
WM	WASTE MANAGEMENT	13,000	$2,856	0.3%	$83.25	+155.3%	Common Stock	94106L109
MA	MASTERCARD INC-A	7,000	$3,996	0.5%	$312.75	+78.7%	CL A	57636Q104
TFC	TRUIST FINANCIAL	3,000	$148	0.0%	$42.69	+7.3%	Common Stock	89832Q109
D	DOMINION ENERGY INC	3,500	$205	0.0%	$51.41	+16.2%	Common Stock	25746U109
RF	REGIONS FINANCIA	12,000	$325	0.0%	$23.32	+8.8%	Common Stock	7591EP100
NE	NOBLE CORP PLC	15,000	$424	0.0%	$22.94	+27.5%	ORD SHS A	G65431127