Alvarez & Marsal Private Wealth Partners, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VTEB	VANGUARD MUN BD FDS	1,428,518	$71,269	10.0%	$49.89	—	TAX EXEMPT BD	922907746
VOO	VANGUARD INDEX FDS	68,735	$41,073	5.8%	$597.55	—	S&P 500 ETF SHS	922908363
IAU	ISHARES GOLD TR	65,110	$5,740	0.8%	$88.16	—	ISHARES NEW	464285204
GS	GOLDMAN SACHS GROUP INC	1,651	$1,397	0.2%	$932.60	0.0%	COM	38141G104
XOM	EXXON MOBIL CORP	7,602	$1,290	0.2%	$138.74	0.0%	COM	30231G102
AMAT	APPLIED MATLS INC	2,150	$735	0.1%	$326.57	0.0%	COM	038222105
CAT	CATERPILLAR INC	1,025	$726	0.1%	$684.39	0.0%	COM	149123101
SNDK	SANDISK CORP	1,023	$650	0.1%	$516.50	0.0%	COM	80004C200
MU	MICRON TECHNOLOGY INC	1,861	$629	0.1%	$387.04	0.0%	COM	595112103
TTE	TOTALENERGIES SE	6,199	$564	0.1%	$71.53	0.0%	ACT	F92124100
IVV	ISHARES TR	860	$562	0.1%	$653.21	—	CORE S&P500 ETF	464287200
CCJ	CAMECO CORP	5,149	$559	0.1%	$116.28	0.0%	COM	13321L108
BAC	BANK AMERICA CORP	11,255	$549	0.1%	$53.66	0.0%	COM	060505104
AMD	ADVANCED MICRO DEVICES INC	2,664	$542	0.1%	$221.70	0.0%	COM	007903107
EME	EMCOR GROUP INC	709	$523	0.1%	$726.67	0.0%	COM	29084Q100
AIZ	ASSURANT INC	2,366	$515	0.1%	$232.16	0.0%	COM	04621X108
BAP	CREDICORP LTD	1,508	$511	0.1%	$336.89	0.0%	COM	G2519Y108
LHX	L3HARRIS TECHNOLOGIES INC	1,481	$511	0.1%	$343.14	0.0%	COM	502431109
ALL	ALLSTATE CORP	2,370	$494	0.1%	$202.93	0.0%	COM	020002101
T	AT&T INC	16,272	$472	0.1%	$25.75	0.0%	COM	00206R102
PLTR	PALANTIR TECHNOLOGIES INC	3,008	$440	0.1%	$154.17	0.0%	CL A	69608A108
BN	BROOKFIELD CORP	10,723	$434	0.1%	$46.68	0.0%	CL A LTD VT SH	11271J107
GE	GE AEROSPACE	1,523	$433	0.1%	$318.19	0.0%	COM NEW	369604301
MPC	MARATHON PETE CORP	1,770	$432	0.1%	$184.70	0.0%	COM	56585A102
SONY	SONY GROUP CORP	20,667	$428	0.1%	$20.70	—	SPONSORED ADR	835699307
NOC	NORTHROP GRUMMAN CORP	625	$426	0.1%	$673.66	0.0%	COM	666807102
GSK	GSK PLC	7,465	$416	0.1%	$55.67	—	SPONSORED ADR	37733W204
IBM	INTERNATIONAL BUSINESS MACHS	1,711	$415	0.1%	$283.93	0.0%	COM	459200101
PM	PHILIP MORRIS INTL INC	2,419	$404	0.1%	$175.91	0.0%	COM	718172109
COP	CONOCOPHILLIPS	2,883	$381	0.1%	$102.65	0.0%	COM	20825C104
CCEP	COCA-COLA EUROPACIFIC PARTNE	4,060	$368	0.1%	$94.63	0.0%	SHS	G25839104
APH	AMPHENOL CORP	2,848	$361	0.1%	$146.40	0.0%	CL A	032095101
LOW	LOWES COS INC	1,402	$331	0.0%	$271.50	0.0%	COM	548661107
GEV	GE VERNOVA INC	379	$331	0.0%	$736.93	0.0%	COM	36828A101
SUNB	SUNBELT RENTALS HOLDINGS INC	4,992	$325	0.0%	$65.09	—	SHS	866966104
NEE	NEXTERA ENERGY INC	3,495	$325	0.0%	$87.17	0.0%	COM	65339F101
MCD	MCDONALDS CORP	1,010	$314	0.0%	$317.25	0.0%	COM	580135101
PGR	PROGRESSIVE CORP	1,548	$307	0.0%	$206.69	0.0%	COM	743315103
LMT	LOCKHEED MARTIN CORP	493	$298	0.0%	$600.88	0.0%	COM	539830109
TRGP	TARGA RES CORP	1,180	$296	0.0%	$201.70	0.0%	COM	87612G101
UNP	UNION PAC CORP	1,216	$295	0.0%	$243.32	0.0%	COM	907818108
SCHW	SCHWAB CHARLES CORP	3,074	$289	0.0%	$100.12	0.0%	COM	808513105
CME	CME GROUP INC	977	$289	0.0%	$289.33	0.0%	COM	12572Q105
CW	CURTISS WRIGHT CORP	423	$288	0.0%	$650.76	0.0%	COM	231561101
HLN	HALEON PLC	28,464	$285	0.0%	$10.01	—	SPON ADS	405552100
QCOM	QUALCOMM INC	2,192	$282	0.0%	$153.90	0.0%	COM	747525103
NEM	NEWMONT CORP	2,467	$278	0.0%	$118.12	0.0%	COM	651639106
NVS	NOVARTIS AG	1,819	$278	0.0%	$152.75	—	SPONSORED ADR	66987V109
GILD	GILEAD SCIENCES INC	1,979	$276	0.0%	$138.38	0.0%	COM	375558103
INTC	INTEL CORP	6,198	$274	0.0%	$46.43	0.0%	COM	458140100
CIEN	CIENA CORP	700	$272	0.0%	$270.92	0.0%	COM NEW	171779309
CMI	CUMMINS INC	495	$266	0.0%	$575.50	0.0%	COM	231021106
ALC	ALCON AG	3,520	$265	0.0%	$80.48	0.0%	ORD SHS	H01301128
ORLY	OREILLY AUTOMOTIVE INC	2,790	$258	0.0%	$94.98	0.0%	COM	67103H107
FIX	COMFORT SYS USA INC	184	$254	0.0%	$1196.06	0.0%	COM	199908104
AXP	AMERICAN EXPRESS CO	833	$252	0.0%	$356.17	0.0%	COM	025816109
UL	UNILEVER PLC	4,354	$250	0.0%	$57.52	—	SPON ADR NEW	904767803
VZ	VERIZON COMMUNICATIONS INC	4,987	$250	0.0%	$43.82	0.0%	COM	92343V104
HUBB	HUBBELL INC	508	$249	0.0%	$495.33	0.0%	COM	443510607
SHW	SHERWIN WILLIAMS CO	777	$249	0.0%	$355.33	0.0%	COM	824348106
MCK	MCKESSON CORP	284	$246	0.0%	$875.46	0.0%	COM	58155Q103
DE	DEERE & CO	429	$242	0.0%	$551.35	0.0%	COM	244199105
BKNG	BOOKING HOLDINGS INC	57	$240	0.0%	$4781.74	0.0%	COM	09857L108
AZO	AUTOZONE INC	71	$240	0.0%	$3625.09	0.0%	COM	053332102
BMY	BRISTOL-MYERS SQUIBB CO	3,915	$237	0.0%	$57.43	0.0%	COM	110122108
BWA	BORGWARNER INC	4,360	$237	0.0%	$52.31	0.0%	COM	099724106
URI	UNITED RENTALS INC	322	$235	0.0%	$882.83	0.0%	COM	911363109
PLD	PROLOGIS INC.	1,764	$233	0.0%	$129.05	0.0%	COM	74340W103
JBL	JABIL INC	860	$228	0.0%	$248.04	0.0%	COM	466313103
FN	FABRINET	438	$228	0.0%	$492.64	0.0%	SHS	G3323L100
SLB	SLB LIMITED	4,323	$223	0.0%	$48.30	0.0%	COM STK	806857108
MDT	MEDTRONIC PLC	2,498	$218	0.0%	$99.51	0.0%	SHS	G5960L103
COHR	COHERENT CORP	895	$213	0.0%	$213.35	0.0%	COM	19247G107
JCI	JOHNSON CONTROLS INTERNATION	1,581	$208	0.0%	$126.06	0.0%	SHS	G51502105
SPOT	SPOTIFY TECHNOLOGY S A	426	$207	0.0%	$497.31	0.0%	SHS	L8681T102
HSBC	HSBC HLDGS PLC	2,390	$203	0.0%	$84.74	—	SPON ADR NEW	404280406
AIG	AMERICAN INTL GROUP INC	2,689	$202	0.0%	$76.34	0.0%	COM NEW	026874784
ARWR	ARROWHEAD PHARMACEUTICALS IN	3,215	$202	0.0%	$65.73	0.0%	COM	04280A100
SAN	BANCO SANTANDER SA	12,455	$140	0.0%	$11.28	—	ADR	05964H105
MFG	MIZUHO FINANCIAL GROUP INC	10,490	$83	0.0%	$7.94	—	SPONSORED ADR	60687Y109

Increased Positions (60)

QLTY GMO ETF TRUST 8.8%

Value ($000) $62,534 (+70.9%) Shares 1,725,553 (+81.4%) Est. Cost $37.46 Unrealized —

SPHQ INVESCO EXCHANGE TRADED FD T 10.1%

Value ($000) $71,926 (+23.8%) Shares 956,589 (+23.5%) Est. Cost $75.08 Unrealized —

IEMG ISHARES INC 1.3%

Value ($000) $9,086 (+3084.9%) Shares 130,265 (+2969.4%) Est. Cost $69.67 Unrealized —

MSFT MICROSOFT CORP 4.1%

Value ($000) $29,098 (-14.1%) Shares 78,607 (+12.3%) Est. Cost $493.36 Unrealized -11.9%

NVDA NVIDIA CORPORATION 1.1%

Value ($000) $7,674 (+136.1%) Shares 44,000 (+152.4%) Est. Cost $186.44 Unrealized +0.1%

AAPL APPLE INC 1.1%

Value ($000) $7,787 (+111.3%) Shares 30,683 (+126.3%) Est. Cost $265.26 Unrealized -0.9%

AMZN AMAZON COM INC 0.6%

Value ($000) $4,121 (+100.6%) Shares 19,787 (+122.3%) Est. Cost $227.71 Unrealized -0.4%

GOOG ALPHABET INC 0.4%

Value ($000) $2,590 (+135.1%) Shares 9,028 (+157.2%) Est. Cost $309.15 Unrealized +4.7%

JPM JPMORGAN CHASE & CO 0.4%

Value ($000) $2,844 (+109.6%) Shares 9,667 (+129.6%) Est. Cost $310.60 Unrealized +0.3%

TSLA TESLA INC 0.2%

Value ($000) $1,535 (+465.9%) Shares 4,128 (+584.6%) Est. Cost $428.51 Unrealized -0.6%

META META PLATFORMS INC 0.3%

Value ($000) $2,414 (+90.7%) Shares 4,220 (+120.0%) Est. Cost $660.91 Unrealized -0.8%

AVGO BROADCOM INC 0.5%

Value ($000) $3,717 (+40.5%) Shares 12,010 (+57.1%) Est. Cost $348.70 Unrealized -4.2%

GOOGL ALPHABET INC 5.1%

Value ($000) $36,528 (-2.8%) Shares 127,026 (+5.8%) Est. Cost $287.65 Unrealized +12.4%

JNJ JOHNSON & JOHNSON 0.1%

Value ($000) $998 (+884.2%) Shares 4,083 (+733.3%) Est. Cost $224.17 Unrealized +1.7%

CSCO CISCO SYS INC 0.1%

Value ($000) $968 (+233.6%) Shares 12,478 (+231.2%) Est. Cost $76.67 Unrealized +1.6%

USB US BANCORP 0.1%

Value ($000) $671 (+34472.3%) Shares 12,768 (+35366.7%) Est. Cost $56.61 Unrealized +0.0%

LLY ELI LILLY & CO 0.2%

Value ($000) $1,592 (+70.3%) Shares 1,731 (+99.0%) Est. Cost $1001.08 Unrealized +4.6%

WMT WALMART INC 0.2%

Value ($000) $1,252 (+65.4%) Shares 10,046 (+48.3%) Est. Cost $112.03 Unrealized +8.9%

ABBV ABBVIE INC 0.2%

Value ($000) $1,224 (+67.5%) Shares 5,626 (+75.9%) Est. Cost $225.40 Unrealized -1.3%

ETN EATON CORP PLC 0.1%

Value ($000) $819 (+138.9%) Shares 2,289 (+112.7%) Est. Cost $353.99 Unrealized -0.1%

MRK MERCK & CO INC 0.1%

Value ($000) $488 (+943.0%) Shares 4,029 (+813.6%) Est. Cost $111.98 Unrealized +2.1%

LRCX LAM RESEARCH CORP 0.1%

Value ($000) $519 (+440.3%) Shares 2,425 (+333.0%) Est. Cost $209.64 Unrealized +7.8%

COST COSTCO WHOLESALE CORPORATION 0.2%

Value ($000) $1,182 (+54.2%) Shares 1,186 (+33.4%) Est. Cost $920.27 Unrealized +4.7%

CVX CHEVRON CORPORATION 0.1%

Value ($000) $610 (+166.7%) Shares 2,949 (+96.5%) Est. Cost $161.45 Unrealized +6.5%

PG PROCTER & GAMBLE CO 0.1%

Value ($000) $408 (+712.6%) Shares 2,822 (+706.3%) Est. Cost $151.20 Unrealized +0.4%

KLAC KLA CORP 0.1%

Value ($000) $772 (+85.7%) Shares 524 (+53.2%) Est. Cost $1272.68 Unrealized +14.9%

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $812 (+73.8%) Shares 15,016 (+72.9%) Est. Cost $53.88 Unrealized —

NFLX NETFLIX INC. 0.1%

Value ($000) $947 (+53.7%) Shares 9,850 (+49.9%) Est. Cost $99.83 Unrealized -16.0%

MA MASTERCARD INCORPORATED 0.2%

Value ($000) $1,229 (+34.0%) Shares 2,459 (+53.1%) Est. Cost $552.04 Unrealized -2.4%

KO COCA COLA CO 0.0%

Value ($000) $354 (+741.7%) Shares 4,618 (+668.4%) Est. Cost $74.06 Unrealized +0.9%

ORCL ORACLE CORP 0.1%

Value ($000) $483 (+137.0%) Shares 3,281 (+214.0%) Est. Cost $191.41 Unrealized -11.4%

ADI ANALOG DEVICES INC 0.1%

Value ($000) $560 (+89.7%) Shares 1,761 (+61.7%) Est. Cost $275.63 Unrealized +14.7%

BRK/B BERKSHIRE HATHAWAY INC DEL 2.1%

Value ($000) $15,263 (+1.8%) Shares 31,850 (+6.7%) Est. Cost $497.28 Unrealized -0.8%

HD HOME DEPOT INC 0.1%

Value ($000) $655 (+56.3%) Shares 1,992 (+63.5%) Est. Cost $369.41 Unrealized +2.1%

ACN ACCENTURE PLC IRELAND 0.0%

Value ($000) $286 (+435.9%) Shares 1,443 (+625.1%) Est. Cost $253.34 Unrealized -0.0%

CB CHUBB LTD SWITZ 0.1%

Value ($000) $644 (+51.8%) Shares 1,971 (+45.4%) Est. Cost $299.83 Unrealized +5.5%

ABT ABBOTT LABORATORIES 0.0%

Value ($000) $289 (+294.1%) Shares 2,818 (+380.9%) Est. Cost $117.89 Unrealized -2.1%

UBER UBER TECHNOLOGIES INC 0.0%

Value ($000) $291 (+247.5%) Shares 4,050 (+294.7%) Est. Cost $81.59 Unrealized -3.5%

UNH UNITEDHEALTH GROUP INC 0.0%

Value ($000) $336 (+124.9%) Shares 1,243 (+174.4%) Est. Cost $319.08 Unrealized -3.3%

BLK BLACKROCK INC 0.1%

Value ($000) $386 (+64.5%) Shares 401 (+83.1%) Est. Cost $1093.03 Unrealized +0.4%

HON HONEYWELL INTL INC 0.0%

Value ($000) $228 (+180.6%) Shares 1,010 (+142.2%) Est. Cost $213.17 Unrealized +6.0%

DIS DISNEY WALT CO 0.0%

Value ($000) $208 (+178.2%) Shares 2,162 (+230.6%) Est. Cost $109.47 Unrealized -0.0%

AMGN AMGEN INC 0.1%

Value ($000) $487 (+29.8%) Shares 1,383 (+20.8%) Est. Cost $321.75 Unrealized +8.7%

NOW SERVICENOW INC 0.0%

Value ($000) $312 (-26.0%) Shares 2,980 (+8.4%) Est. Cost $167.65 Unrealized -27.7%

TJX TJX COS INC NEW 0.1%

Value ($000) $515 (+25.1%) Shares 3,223 (+20.4%) Est. Cost $148.80 Unrealized +3.6%

CRM SALESFORCE INC 0.1%

Value ($000) $426 (+26.3%) Shares 2,280 (+79.5%) Est. Cost $233.82 Unrealized -7.7%

VRTX VERTEX PHARMACEUTICALS INC 0.1%

Value ($000) $388 (+26.2%) Shares 869 (+28.2%) Est. Cost $439.05 Unrealized +6.5%

PEP PEPSICO INC 0.0%

Value ($000) $267 (+33.1%) Shares 1,719 (+24.0%) Est. Cost $147.62 Unrealized +4.8%

MS MORGAN STANLEY 0.1%

Value ($000) $954 (+5.8%) Shares 5,798 (+14.2%) Est. Cost $168.11 Unrealized +6.9%

ANET ARISTA NETWORKS INC 0.1%

Value ($000) $486 (+10.6%) Shares 3,955 (+18.0%) Est. Cost $137.26 Unrealized -1.6%

DHR DANAHER CORP DEL 0.0%

Value ($000) $341 (+12.2%) Shares 1,795 (+35.4%) Est. Cost $220.89 Unrealized +1.7%

WFC WELLS FARGO & CO 0.1%

Value ($000) $430 (+9.3%) Shares 5,406 (+27.9%) Est. Cost $87.37 Unrealized +3.0%

ISRG INTUITIVE SURGICAL INC 0.1%

Value ($000) $446 (-5.4%) Shares 967 (+16.2%) Est. Cost $530.78 Unrealized -1.8%

COF CAPITAL ONE FINL CORP 0.1%

Value ($000) $441 (-5.2%) Shares 2,418 (+25.9%) Est. Cost $222.41 Unrealized +0.4%

ADBE ADOBE INC 0.0%

Value ($000) $296 (-7.5%) Shares 1,219 (+33.2%) Est. Cost $327.56 Unrealized -11.5%

CEG CONSTELLATION ENERGY CORP 0.1%

Value ($000) $620 (+3.6%) Shares 2,219 (+31.1%) Est. Cost $348.49 Unrealized -13.6%

PANW PALO ALTO NETWORKS INC 0.1%

Value ($000) $449 (-4.5%) Shares 2,802 (+9.7%) Est. Cost $199.13 Unrealized -13.5%

C CITIGROUP INC 0.0%

Value ($000) $244 (+9.5%) Shares 2,151 (+12.7%) Est. Cost $105.05 Unrealized +10.6%

TMO THERMO FISHER SCIENTIFIC INC 0.1%

Value ($000) $366 (+5.8%) Shares 743 (+24.7%) Est. Cost $567.03 Unrealized +1.3%

ICE INTERCONTINENTAL EXCHANGE IN 0.0%

Value ($000) $220 (+1.2%) Shares 1,397 (+4.3%) Est. Cost $156.56 Unrealized +5.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QLTY	GMO ETF TRUST	1,725,553 (+81.4%)	$62,534 (+70.9%)	8.8%	$37.46	—	GMO US QUALITY E	90139K100
SPHQ	INVESCO EXCHANGE TRADED FD T	956,589 (+23.5%)	$71,926 (+23.8%)	10.1%	$75.08	—	S&P500 QUALITY	46137V241
IEMG	ISHARES INC	130,265 (+2969.4%)	$9,086 (+3084.9%)	1.3%	$69.67	—	CORE MSCI EMKT	46434G103
MSFT	MICROSOFT CORP	78,607 (+12.3%)	$29,098 (-14.1%)	4.1%	$493.36	-11.9%	COM	594918104
NVDA	NVIDIA CORPORATION	44,000 (+152.4%)	$7,674 (+136.1%)	1.1%	$186.44	+0.1%	COM	67066G104
AAPL	APPLE INC	30,683 (+126.3%)	$7,787 (+111.3%)	1.1%	$265.26	-0.9%	COM	037833100
AMZN	AMAZON COM INC	19,787 (+122.3%)	$4,121 (+100.6%)	0.6%	$227.71	-0.4%	COM	023135106
GOOG	ALPHABET INC	9,028 (+157.2%)	$2,590 (+135.1%)	0.4%	$309.15	+4.7%	CAP STK CL C	02079K107
JPM	JPMORGAN CHASE & CO	9,667 (+129.6%)	$2,844 (+109.6%)	0.4%	$310.60	+0.3%	COM	46625H100
TSLA	TESLA INC	4,128 (+584.6%)	$1,535 (+465.9%)	0.2%	$428.51	-0.6%	COM	88160R101
META	META PLATFORMS INC	4,220 (+120.0%)	$2,414 (+90.7%)	0.3%	$660.91	-0.8%	CL A	30303M102
AVGO	BROADCOM INC	12,010 (+57.1%)	$3,717 (+40.5%)	0.5%	$348.70	-4.2%	COM	11135F101
GOOGL	ALPHABET INC	127,026 (+5.8%)	$36,528 (-2.8%)	5.1%	$287.65	+12.4%	CAP STK CL A	02079K305
JNJ	JOHNSON & JOHNSON	4,083 (+733.3%)	$998 (+884.2%)	0.1%	$224.17	+1.7%	COM	478160104
CSCO	CISCO SYS INC	12,478 (+231.2%)	$968 (+233.6%)	0.1%	$76.67	+1.6%	COM	17275R102
USB	US BANCORP	12,768 (+35366.7%)	$671 (+34472.3%)	0.1%	$56.61	+0.0%	COM NEW	902973304
LLY	ELI LILLY & CO	1,731 (+99.0%)	$1,592 (+70.3%)	0.2%	$1001.08	+4.6%	COM	532457108
WMT	WALMART INC	10,046 (+48.3%)	$1,252 (+65.4%)	0.2%	$112.03	+8.9%	COM	931142103
ABBV	ABBVIE INC	5,626 (+75.9%)	$1,224 (+67.5%)	0.2%	$225.40	-1.3%	COM	00287Y109
ETN	EATON CORP PLC	2,289 (+112.7%)	$819 (+138.9%)	0.1%	$353.99	-0.1%	SHS	G29183103
MRK	MERCK & CO INC	4,029 (+813.6%)	$488 (+943.0%)	0.1%	$111.98	+2.1%	COM	58933Y105
LRCX	LAM RESEARCH CORP	2,425 (+333.0%)	$519 (+440.3%)	0.1%	$209.64	+7.8%	COM NEW	512807306
COST	COSTCO WHOLESALE CORPORATION	1,186 (+33.4%)	$1,182 (+54.2%)	0.2%	$920.27	+4.7%	COM	22160K105
CVX	CHEVRON CORPORATION	2,949 (+96.5%)	$610 (+166.7%)	0.1%	$161.45	+6.5%	COM	166764100
PG	PROCTER & GAMBLE CO	2,822 (+706.3%)	$408 (+712.6%)	0.1%	$151.20	+0.4%	COM	742718109
KLAC	KLA CORP	524 (+53.2%)	$772 (+85.7%)	0.1%	$1272.68	+14.9%	COM NEW	482480100
VWO	VANGUARD INTL EQUITY INDEX F	15,016 (+72.9%)	$812 (+73.8%)	0.1%	$53.88	—	FTSE EMR MKT ETF	922042858
NFLX	NETFLIX INC.	9,850 (+49.9%)	$947 (+53.7%)	0.1%	$99.83	-16.0%	COM	64110L106
MA	MASTERCARD INCORPORATED	2,459 (+53.1%)	$1,229 (+34.0%)	0.2%	$552.04	-2.4%	CL A	57636Q104
KO	COCA COLA CO	4,618 (+668.4%)	$354 (+741.7%)	0.0%	$74.06	+0.9%	COM	191216100
ORCL	ORACLE CORP	3,281 (+214.0%)	$483 (+137.0%)	0.1%	$191.41	-11.4%	COM	68389X105
ADI	ANALOG DEVICES INC	1,761 (+61.7%)	$560 (+89.7%)	0.1%	$275.63	+14.7%	COM	032654105
BRK/B	BERKSHIRE HATHAWAY INC DEL	31,850 (+6.7%)	$15,263 (+1.8%)	2.1%	$497.28	-0.8%	CL B NEW	084670702
HD	HOME DEPOT INC	1,992 (+63.5%)	$655 (+56.3%)	0.1%	$369.41	+2.1%	COM	437076102
ACN	ACCENTURE PLC IRELAND	1,443 (+625.1%)	$286 (+435.9%)	0.0%	$253.34	-0.0%	SHS CLASS A	G1151C101
CB	CHUBB LTD SWITZ	1,971 (+45.4%)	$644 (+51.8%)	0.1%	$299.83	+5.5%	COM	H1467J104
ABT	ABBOTT LABORATORIES	2,818 (+380.9%)	$289 (+294.1%)	0.0%	$117.89	-2.1%	COM	002824100
UBER	UBER TECHNOLOGIES INC	4,050 (+294.7%)	$291 (+247.5%)	0.0%	$81.59	-3.5%	COM	90353T100
UNH	UNITEDHEALTH GROUP INC	1,243 (+174.4%)	$336 (+124.9%)	0.0%	$319.08	-3.3%	COM	91324P102
BLK	BLACKROCK INC	401 (+83.1%)	$386 (+64.5%)	0.1%	$1093.03	+0.4%	COM	09290D101
HON	HONEYWELL INTL INC	1,010 (+142.2%)	$228 (+180.6%)	0.0%	$213.17	+6.0%	COM	438516106
DIS	DISNEY WALT CO	2,162 (+230.6%)	$208 (+178.2%)	0.0%	$109.47	-0.0%	COM	254687106
AMGN	AMGEN INC	1,383 (+20.8%)	$487 (+29.8%)	0.1%	$321.75	+8.7%	COM	031162100
NOW	SERVICENOW INC	2,980 (+8.4%)	$312 (-26.0%)	0.0%	$167.65	-27.7%	COM	81762P102
TJX	TJX COS INC NEW	3,223 (+20.4%)	$515 (+25.1%)	0.1%	$148.80	+3.6%	COM	872540109
CRM	SALESFORCE INC	2,280 (+79.5%)	$426 (+26.3%)	0.1%	$233.82	-7.7%	COM	79466L302
VRTX	VERTEX PHARMACEUTICALS INC	869 (+28.2%)	$388 (+26.2%)	0.1%	$439.05	+6.5%	COM	92532F100
PEP	PEPSICO INC	1,719 (+24.0%)	$267 (+33.1%)	0.0%	$147.62	+4.8%	COM	713448108
MS	MORGAN STANLEY	5,798 (+14.2%)	$954 (+5.8%)	0.1%	$168.11	+6.9%	COM NEW	617446448
ANET	ARISTA NETWORKS INC	3,955 (+18.0%)	$486 (+10.6%)	0.1%	$137.26	-1.6%	COM SHS	040413205
DHR	DANAHER CORP DEL	1,795 (+35.4%)	$341 (+12.2%)	0.0%	$220.89	+1.7%	COM	235851102
WFC	WELLS FARGO & CO	5,406 (+27.9%)	$430 (+9.3%)	0.1%	$87.37	+3.0%	COM	949746101
ISRG	INTUITIVE SURGICAL INC	967 (+16.2%)	$446 (-5.4%)	0.1%	$530.78	-1.8%	COM NEW	46120E602
COF	CAPITAL ONE FINL CORP	2,418 (+25.9%)	$441 (-5.2%)	0.1%	$222.41	+0.4%	COM	14040H105
ADBE	ADOBE INC	1,219 (+33.2%)	$296 (-7.5%)	0.0%	$327.56	-11.5%	COM	00724F101
CEG	CONSTELLATION ENERGY CORP	2,219 (+31.1%)	$620 (+3.6%)	0.1%	$348.49	-13.6%	COM	21037T109
PANW	PALO ALTO NETWORKS INC	2,802 (+9.7%)	$449 (-4.5%)	0.1%	$199.13	-13.5%	COM	697435105
C	CITIGROUP INC	2,151 (+12.7%)	$244 (+9.5%)	0.0%	$105.05	+10.6%	COM NEW	172967424
TMO	THERMO FISHER SCIENTIFIC INC	743 (+24.7%)	$366 (+5.8%)	0.1%	$567.03	+1.3%	COM	883556102
ICE	INTERCONTINENTAL EXCHANGE IN	1,397 (+4.3%)	$220 (+1.2%)	0.0%	$156.56	+5.4%	COM	45866F104

Exited Positions (15)

BIL SPDR SERIES TRUST 1.3%

Value ($000) $9,138 Shares 100,000 Est. Cost $91.38 Unrealized —

AKRE PROFESIONALLY MANAGED PORTFO 0.4%

Value ($000) $2,885 Shares 44,033 Est. Cost $65.51 Unrealized —

GOVT ISHARES TR 0.3%

Value ($000) $2,109 Shares 91,585 Est. Cost $23.03 Unrealized —

BBCA J P MORGAN EXCHANGE TRADED F 0.1%

Value ($000) $497 Shares 5,339 Est. Cost $93.00 Unrealized —

BBAX J P MORGAN EXCHANGE TRADED F 0.1%

Value ($000) $395 Shares 7,012 Est. Cost $56.30 Unrealized —

TXN TEXAS INSTRS INC 0.0%

Value ($000) $62 Shares 356 Est. Cost $170.73 Unrealized +20.8%

STZ CONSTELLATION BRANDS INC 0.0%

Value ($000) $50 Shares 364 Est. Cost $136.84 Unrealized +14.0%

SBUX STARBUCKS CORP 0.0%

Value ($000) $49 Shares 584 Est. Cost $84.06 Unrealized +11.4%

GD GENERAL DYNAMICS CORP 0.0%

Value ($000) $19 Shares 55 Est. Cost $340.86 Unrealized +4.0%

CI THE CIGNA GROUP 0.0%

Value ($000) $14 Shares 50 Est. Cost $279.23 Unrealized +0.5%

HLT HILTON WORLDWIDE HLDGS INC 0.0%

Value ($000) $10 Shares 35 Est. Cost $272.20 Unrealized +12.1%

ASML ASML HOLDING N V 0.0%

Value ($000) $7 Shares 7 Est. Cost $1069.86 Unrealized —

DGX QUEST DIAGNOSTICS INC 0.0%

Value ($000) $7 Shares 38 Est. Cost $182.07 Unrealized +4.7%

CHRW C H ROBINSON WORLDWIDE INC 0.0%

Value ($000) $3 Shares 17 Est. Cost $147.32 Unrealized +23.1%

NVO NOVO-NORDISK A S 0.0%

Value ($000) $2 Shares 42 Est. Cost $50.88 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BIL	SPDR SERIES TRUST	100,000	$9,138	1.3%	$91.38	—	—	78468R663
AKRE	PROFESIONALLY MANAGED PORTFO	44,033	$2,885	0.4%	$65.51	—	—	74316P579
GOVT	ISHARES TR	91,585	$2,109	0.3%	$23.03	—	—	46429B267
BBCA	J P MORGAN EXCHANGE TRADED F	5,339	$497	0.1%	$93.00	—	—	46641Q225
BBAX	J P MORGAN EXCHANGE TRADED F	7,012	$395	0.1%	$56.30	—	—	46641Q233
TXN	TEXAS INSTRS INC	356	$62	0.0%	$170.73	+20.8%	—	882508104
STZ	CONSTELLATION BRANDS INC	364	$50	0.0%	$136.84	+14.0%	—	21036P108
SBUX	STARBUCKS CORP	584	$49	0.0%	$84.06	+11.4%	—	855244109
GD	GENERAL DYNAMICS CORP	55	$19	0.0%	$340.86	+4.0%	—	369550108
CI	THE CIGNA GROUP	50	$14	0.0%	$279.23	+0.5%	—	125523100
HLT	HILTON WORLDWIDE HLDGS INC	35	$10	0.0%	$272.20	+12.1%	—	43300A203
ASML	ASML HOLDING N V	7	$7	0.0%	$1069.86	—	—	N07059210
DGX	QUEST DIAGNOSTICS INC	38	$7	0.0%	$182.07	+4.7%	—	74834L100
CHRW	C H ROBINSON WORLDWIDE INC	17	$3	0.0%	$147.32	+23.1%	—	12541W209
NVO	NOVO-NORDISK A S	42	$2	0.0%	$50.88	—	—	670100205

Decreased Positions (10)

V VISA INC 3.7%

Value ($000) $26,498 (-15.0%) Shares 87,674 (-1.4%) Est. Cost $340.38 Unrealized -3.3%

LIN LINDE PLC 0.1%

Value ($000) $468 (-86.7%) Shares 943 (-88.6%) Est. Cost $427.28 Unrealized +7.7%

BBJP J P MORGAN EXCHANGE TRADED F 0.0%

Value ($000) $234 (-65.0%) Shares 3,400 (-66.5%) Est. Cost $65.91 Unrealized —

BX BLACKSTONE INC 0.0%

Value ($000) $237 (-32.7%) Shares 2,063 (-9.8%) Est. Cost $151.46 Unrealized -7.0%

PHM PULTE GROUP INC 0.0%

Value ($000) $244 (-29.0%) Shares 2,070 (-29.3%) Est. Cost $122.44 Unrealized +7.3%

PEG PUBLIC SVC ENTERPRISE GROUP 0.0%

Value ($000) $228 (-30.1%) Shares 2,820 (-30.6%) Est. Cost $81.08 Unrealized +0.6%

CRWD CROWDSTRIKE HLDGS INC 0.0%

Value ($000) $332 (-22.0%) Shares 851 (-6.4%) Est. Cost $509.22 Unrealized -15.3%

PWR QUANTA SVCS INC 0.1%

Value ($000) $514 (-14.6%) Shares 936 (-34.3%) Est. Cost $439.27 Unrealized +10.7%

VLO VALERO ENERGY CORP 0.1%

Value ($000) $477 (+21.6%) Shares 1,929 (-19.9%) Est. Cost $168.83 Unrealized +12.6%

LNG CHENIERE ENERGY INC 0.0%

Value ($000) $247 (+15.4%) Shares 869 (-20.9%) Est. Cost $209.99 Unrealized -0.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
V	VISA INC	87,674 (-1.4%)	$26,498 (-15.0%)	3.7%	$340.38	-3.3%	COM CL A	92826C839
LIN	LINDE PLC	943 (-88.6%)	$468 (-86.7%)	0.1%	$427.28	+7.7%	SHS	G54950103
BBJP	J P MORGAN EXCHANGE TRADED F	3,400 (-66.5%)	$234 (-65.0%)	0.0%	$65.91	—	BETABULDRS JAPAN	46641Q217
BX	BLACKSTONE INC	2,063 (-9.8%)	$237 (-32.7%)	0.0%	$151.46	-7.0%	COM	09260D107
PHM	PULTE GROUP INC	2,070 (-29.3%)	$244 (-29.0%)	0.0%	$122.44	+7.3%	COM	745867101
PEG	PUBLIC SVC ENTERPRISE GROUP	2,820 (-30.6%)	$228 (-30.1%)	0.0%	$81.08	+0.6%	COM	744573106
CRWD	CROWDSTRIKE HLDGS INC	851 (-6.4%)	$332 (-22.0%)	0.0%	$509.22	-15.3%	CL A	22788C105
PWR	QUANTA SVCS INC	936 (-34.3%)	$514 (-14.6%)	0.1%	$439.27	+10.7%	COM	74762E102
VLO	VALERO ENERGY CORP	1,929 (-19.9%)	$477 (+21.6%)	0.1%	$168.83	+12.6%	COM	91913Y100
LNG	CHENIERE ENERGY INC	869 (-20.9%)	$247 (+15.4%)	0.0%	$209.99	-0.1%	COM NEW	16411R208

Unchanged Positions (27)

QQQ INVESCO QQQ TR 7.8%

Value ($000) $55,794 Shares 96,666 Est. Cost $614.31 Unrealized —

TPL TEXAS PACIFIC LAND CORPORATI 1.2%

Value ($000) $8,609 Shares 18,141 Est. Cost $305.03 Unrealized +22.4%

SPY STATE STR SPDR S&P 500 ETF T 9.6%

Value ($000) $68,114 Shares 104,447 Est. Cost $683.91 Unrealized —

IVW ISHARES TR 3.9%

Value ($000) $27,973 Shares 247,312 Est. Cost $123.26 Unrealized —

RTX RTX CORPORATION 4.8%

Value ($000) $33,931 Shares 175,899 Est. Cost $173.32 Unrealized +13.4%

GLDM WORLD GOLD TR 3.1%

Value ($000) $22,246 Shares 240,000 Est. Cost $85.37 Unrealized —

VRT VERTIV HOLDINGS CO 0.1%

Value ($000) $467 Shares 1,863 Est. Cost $173.58 Unrealized +15.1%

VEA VANGUARD TAX-MANAGED FDS 0.8%

Value ($000) $5,957 Shares 92,955 Est. Cost $62.47 Unrealized —

GLD SPDR GOLD TR 0.2%

Value ($000) $1,435 Shares 3,335 Est. Cost $396.31 Unrealized —

IVE ISHARES TR 2.2%

Value ($000) $15,437 Shares 73,110 Est. Cost $212.07 Unrealized —

IJS ISHARES TR 0.2%

Value ($000) $1,578 Shares 13,326 Est. Cost $113.72 Unrealized —

IJT ISHARES TR 0.3%

Value ($000) $2,185 Shares 15,098 Est. Cost $141.16 Unrealized —

IWF ISHARES TR 0.1%

Value ($000) $379 Shares 889 Est. Cost $473.30 Unrealized —

TT TRANE TECHNOLOGIES PLC 0.1%

Value ($000) $445 Shares 1,068 Est. Cost $413.59 Unrealized +2.1%

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.0%

Value ($000) $258 Shares 762 Est. Cost $304.69 Unrealized —

IWN ISHARES TR 0.0%

Value ($000) $345 Shares 1,819 Est. Cost $181.21 Unrealized —

BNDX VANGUARD CHARLOTTE FDS 0.3%

Value ($000) $2,449 Shares 50,959 Est. Cost $48.32 Unrealized —

QUAL ISHARES TR 0.1%

Value ($000) $366 Shares 1,909 Est. Cost $198.62 Unrealized —

EFV ISHARES TR 0.0%

Value ($000) $322 Shares 4,334 Est. Cost $71.41 Unrealized —

TSPA T ROWE PRICE ETF INC 0.0%

Value ($000) $249 Shares 6,089 Est. Cost $42.78 Unrealized —

ICF ISHARES TR 0.0%

Value ($000) $230 Shares 3,712 Est. Cost $59.67 Unrealized —

BND VANGUARD BD INDEX FDS 0.2%

Value ($000) $1,153 Shares 15,662 Est. Cost $74.07 Unrealized —

IWD ISHARES TR 0.1%

Value ($000) $420 Shares 1,967 Est. Cost $210.34 Unrealized —

VCIT VANGUARD SCOTTSDALE FDS 0.1%

Value ($000) $462 Shares 5,586 Est. Cost $83.75 Unrealized —

IEFA ISHARES TR 0.1%

Value ($000) $435 Shares 4,801 Est. Cost $89.46 Unrealized —

BBEU J P MORGAN EXCHANGE TRADED F 0.0%

Value ($000) $293 Shares 4,053 Est. Cost $73.30 Unrealized —

VMBS VANGUARD SCOTTSDALE FDS 0.1%

Value ($000) $703 Shares 14,981 Est. Cost $47.08 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	96,666	$55,794	7.8%	$614.31	—	UNIT SER 1	46090E103
TPL	TEXAS PACIFIC LAND CORPORATI	18,141	$8,609	1.2%	$305.03	+22.4%	COM	88262P102
SPY	STATE STR SPDR S&P 500 ETF T	104,447	$68,114	9.6%	$683.91	—	TR UNIT	78462F103
IVW	ISHARES TR	247,312	$27,973	3.9%	$123.26	—	S&P 500 GRWT ETF	464287309
RTX	RTX CORPORATION	175,899	$33,931	4.8%	$173.32	+13.4%	COM	75513E101
GLDM	WORLD GOLD TR	240,000	$22,246	3.1%	$85.37	—	SPDR GLD MINIS	98149E303
VRT	VERTIV HOLDINGS CO	1,863	$467	0.1%	$173.58	+15.1%	COM CL A	92537N108
VEA	VANGUARD TAX-MANAGED FDS	92,955	$5,957	0.8%	$62.47	—	VAN FTSE DEV MKT	921943858
GLD	SPDR GOLD TR	3,335	$1,435	0.2%	$396.31	—	GOLD SHS	78463V107
IVE	ISHARES TR	73,110	$15,437	2.2%	$212.07	—	S&P 500 VAL ETF	464287408
IJS	ISHARES TR	13,326	$1,578	0.2%	$113.72	—	SP SMCP600VL ETF	464287879
IJT	ISHARES TR	15,098	$2,185	0.3%	$141.16	—	S&P SML 600 GWT	464287887
IWF	ISHARES TR	889	$379	0.1%	$473.30	—	RUS 1000 GRW ETF	464287614
TT	TRANE TECHNOLOGIES PLC	1,068	$445	0.1%	$413.59	+2.1%	SHS	G8994E103
TSM	TAIWAN SEMICONDUCTOR MANUFAC	762	$258	0.0%	$304.69	—	SPONSORED ADS	874039100
IWN	ISHARES TR	1,819	$345	0.0%	$181.21	—	RUS 2000 VAL ETF	464287630
BNDX	VANGUARD CHARLOTTE FDS	50,959	$2,449	0.3%	$48.32	—	TOTAL INT BD ETF	92203J407
QUAL	ISHARES TR	1,909	$366	0.1%	$198.62	—	MSCI USA QLT FCT	46432F339
EFV	ISHARES TR	4,334	$322	0.0%	$71.41	—	EAFE VALUE ETF	464288877
TSPA	T ROWE PRICE ETF INC	6,089	$249	0.0%	$42.78	—	US EQUITY RESEAR	87283Q503
ICF	ISHARES TR	3,712	$230	0.0%	$59.67	—	SELECT US REIT	464287564
BND	VANGUARD BD INDEX FDS	15,662	$1,153	0.2%	$74.07	—	TOTAL BND MRKT	921937835
IWD	ISHARES TR	1,967	$420	0.1%	$210.34	—	RUS 1000 VAL ETF	464287598
VCIT	VANGUARD SCOTTSDALE FDS	5,586	$462	0.1%	$83.75	—	INT-TERM CORP	92206C870
IEFA	ISHARES TR	4,801	$435	0.1%	$89.46	—	CORE MSCI EAFE	46432F842
BBEU	J P MORGAN EXCHANGE TRADED F	4,053	$293	0.0%	$73.30	—	BETABUILDERS EUR	46641Q191
VMBS	VANGUARD SCOTTSDALE FDS	14,981	$703	0.1%	$47.08	—	MTG-BKD SECS ETF	92206C771