Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GE	GE AEROSPACE	47,000	$17.57M	1.9%	$373.73	—	COM NEW	369604301
DE	DEERE & CO	23,000	$14.59M	1.6%	$634.33	—	COM	244199105
XLV	SELECT SECTOR SPDR TR	80,000	$12.69M	1.4%	$158.66	—	ST STR CARE ETF	81369Y209
HCA	HCA HEALTHCARE INC	31,000	$12.09M	1.3%	$389.89	—	COM	40412C101
COF	CAPITAL ONE FINL CORP	47,000	$9.429M	1.0%	$200.62	—	COM	14040H105

Increased Positions (4)

LLY ELI LILLY & CO 1.5%

Value $14.39M (+73.9%) Shares 12,000 (+33.3%) Est. Cost $856.54 Unrealized —

UAL UNITED AIRLS HLDGS INC 1.2%

Value $10.88M (+127.2%) Shares 80,000 (+53.8%) Est. Cost $120.19 Unrealized —

NI NISOURCE INC 1.3%

Value $12.13M (+23.7%) Shares 255,000 (+21.4%) Est. Cost $44.62 Unrealized —

META META PLATFORMS INC 3.0%

Value $28.16M (+2.6%) Shares 50,000 (+4.2%) Est. Cost $99.99 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	12,000 (+33.3%)	$14.39M (+73.9%)	1.5%	$856.54	—	COM	532457108
UAL	UNITED AIRLS HLDGS INC	80,000 (+53.8%)	$10.88M (+127.2%)	1.2%	$120.19	—	COM	910047109
NI	NISOURCE INC	255,000 (+21.4%)	$12.13M (+23.7%)	1.3%	$44.62	—	COM	65473P105
META	META PLATFORMS INC	50,000 (+4.2%)	$28.16M (+2.6%)	3.0%	$99.99	—	CL A	30303M102

Exited Positions (7)

BA BOEING CO 1.3%

Value $11.94M Shares 60,000 Est. Cost $193.84 Unrealized —

BDX BECTON DICKINSON & CO 1.2%

Value $11.16M Shares 71,000 Est. Cost $167.83 Unrealized —

WMS ADVANCED DRAIN SYS INC DEL 0.9%

Value $8.091M Shares 59,000 Est. Cost $150.00 Unrealized —

BN BROOKFIELD CORP 0.6%

Value $5.463M Shares 135,000 Est. Cost $46.68 Unrealized —

BKNG BOOKING HOLDINGS INC 0.4%

Value $4.21M Shares 1,000 Est. Cost $5137.84 Unrealized —

CPNG COUPANG INC 0.4%

Value $4.154M Shares 220,000 Est. Cost $19.86 Unrealized —

GPGI GPGI INC 0.4%

Value $3.933M Shares 230,000 Est. Cost $23.35 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BA	BOEING CO	60,000	$11.94M	1.3%	$193.84	—	—	097023105
BDX	BECTON DICKINSON & CO	71,000	$11.16M	1.2%	$167.83	—	—	075887109
WMS	ADVANCED DRAIN SYS INC DEL	59,000	$8.091M	0.9%	$150.00	—	—	00790R104
BN	BROOKFIELD CORP	135,000	$5.463M	0.6%	$46.68	—	—	11271J107
BKNG	BOOKING HOLDINGS INC	1,000	$4.21M	0.4%	$5137.84	—	—	09857L108
CPNG	COUPANG INC	220,000	$4.154M	0.4%	$19.86	—	—	22266T109
GPGI	GPGI INC	230,000	$3.933M	0.4%	$23.35	—	—	20459V105

Decreased Positions (3)

NFLX NETFLIX INC. 1.6%

Value $14.67M (-27.5%) Shares 205,500 (-2.4%) Est. Cost $100.45 Unrealized —

QXO QXO INC 0.9%

Value $8.467M (-16.2%) Shares 490,000 (-5.8%) Est. Cost $19.78 Unrealized —

NET CLOUDFLARE INC 1.0%

Value $9.811M (-4.9%) Shares 40,000 (-20.0%) Est. Cost $98.96 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC.	205,500 (-2.4%)	$14.67M (-27.5%)	1.6%	$100.45	—	COM	64110L106
QXO	QXO INC	490,000 (-5.8%)	$8.467M (-16.2%)	0.9%	$19.78	—	COM NEW	82846H405
NET	CLOUDFLARE INC	40,000 (-20.0%)	$9.811M (-4.9%)	1.0%	$98.96	—	CL A COM	18915M107

Unchanged Positions (25)

GOOGL ALPHABET INC 10.7%

Value $100M Shares 280,000 Est. Cost $107.32 Unrealized —

AAPL APPLE INC 7.8%

Value $72.92M Shares 252,000 Est. Cost $84.00 Unrealized —

AMZN AMAZON COM INC 6.1%

Value $57.2M Shares 240,000 Est. Cost $120.61 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 5.6%

Value $52.27M Shares 70,000 Est. Cost $448.36 Unrealized —

H HYATT HOTELS CORP 1.7%

Value $15.89M Shares 82,000 Est. Cost $92.20 Unrealized —

V VISA INC 3.6%

Value $33.97M Shares 99,000 Est. Cost $65.88 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 9.4%

Value $88.47M Shares 176,800 Est. Cost $159.85 Unrealized —

GEV GE VERNOVA INC 1.4%

Value $12.92M Shares 11,000 Est. Cost $609.04 Unrealized —

TDG TRANSDIGM GROUP INC 2.5%

Value $23.04M Shares 17,300 Est. Cost $442.41 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 1.2%

Value $11.67M Shares 100,000 Est. Cost $22.03 Unrealized —

JPM JPMORGAN CHASE & CO 2.8%

Value $26.19M Shares 80,000 Est. Cost $142.37 Unrealized —

LYV LIVE NATION ENTERTAINMENT IN 1.7%

Value $15.75M Shares 86,000 Est. Cost $45.70 Unrealized —

LMT LOCKHEED MARTIN CORP 1.4%

Value $12.74M Shares 25,000 Est. Cost $75.47 Unrealized —

UNP UNION PAC CORP 2.2%

Value $20.4M Shares 75,000 Est. Cost $78.61 Unrealized —

LOW LOWES COS INC 2.8%

Value $26.46M Shares 120,000 Est. Cost $32.96 Unrealized —

NVDA NVIDIA CORPORATION 1.5%

Value $14.41M Shares 72,000 Est. Cost $126.62 Unrealized —

HLT HILTON WORLDWIDE HLDGS INC 1.8%

Value $16.79M Shares 50,800 Est. Cost $147.59 Unrealized —

MA MASTERCARD INCORPORATED 3.6%

Value $34.15M Shares 66,500 Est. Cost $70.33 Unrealized —

NVR NVR INC 2.7%

Value $25.66M Shares 3,766 Est. Cost $2139.08 Unrealized —

EQIX EQUINIX INC 1.3%

Value $12.51M Shares 12,000 Est. Cost $774.22 Unrealized —

BX BLACKSTONE INC 2.4%

Value $22.36M Shares 190,000 Est. Cost $39.22 Unrealized —

RTX RTX CORPORATION 2.0%

Value $19.16M Shares 101,000 Est. Cost $86.83 Unrealized —

NOW SERVICENOW INC 0.6%

Value $5.957M Shares 60,000 Est. Cost $145.75 Unrealized —

MSFT MICROSOFT CORP 4.1%

Value $38.05M Shares 102,000 Est. Cost $87.16 Unrealized —

UBER UBER TECHNOLOGIES INC 1.4%

Value $12.96M Shares 179,600 Est. Cost $70.40 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	280,000	$100M	10.7%	$107.32	—	CAP STK CL A	02079K305
AAPL	APPLE INC	252,000	$72.92M	7.8%	$84.00	—	COM	037833100
AMZN	AMAZON COM INC	240,000	$57.2M	6.1%	$120.61	—	COM	023135106
SPY	STATE STR SPDR S&P 500 ETF T	70,000	$52.27M	5.6%	$448.36	—	TR UNIT	78462F103
H	HYATT HOTELS CORP	82,000	$15.89M	1.7%	$92.20	—	COM CL A	448579102
V	VISA INC	99,000	$33.97M	3.6%	$65.88	—	COM CL A	92826C839
BRK/B	BERKSHIRE HATHAWAY INC DEL	176,800	$88.47M	9.4%	$159.85	—	CL B NEW	084670702
GEV	GE VERNOVA INC	11,000	$12.92M	1.4%	$609.04	—	COM	36828A101
TDG	TRANSDIGM GROUP INC	17,300	$23.04M	2.5%	$442.41	—	COM	893641100
PLTR	PALANTIR TECHNOLOGIES INC	100,000	$11.67M	1.2%	$22.03	—	CL A	69608A108
JPM	JPMORGAN CHASE & CO	80,000	$26.19M	2.8%	$142.37	—	COM	46625H100
LYV	LIVE NATION ENTERTAINMENT IN	86,000	$15.75M	1.7%	$45.70	—	COM	538034109
LMT	LOCKHEED MARTIN CORP	25,000	$12.74M	1.4%	$75.47	—	COM	539830109
UNP	UNION PAC CORP	75,000	$20.4M	2.2%	$78.61	—	COM	907818108
LOW	LOWES COS INC	120,000	$26.46M	2.8%	$32.96	—	COM	548661107
NVDA	NVIDIA CORPORATION	72,000	$14.41M	1.5%	$126.62	—	COM	67066G104
HLT	HILTON WORLDWIDE HLDGS INC	50,800	$16.79M	1.8%	$147.59	—	COM	43300A203
MA	MASTERCARD INCORPORATED	66,500	$34.15M	3.6%	$70.33	—	CL A	57636Q104
NVR	NVR INC	3,766	$25.66M	2.7%	$2139.08	—	COM	62944T105
EQIX	EQUINIX INC	12,000	$12.51M	1.3%	$774.22	—	COM	29444U700
BX	BLACKSTONE INC	190,000	$22.36M	2.4%	$39.22	—	COM	09260D107
RTX	RTX CORPORATION	101,000	$19.16M	2.0%	$86.83	—	COM	75513E101
NOW	SERVICENOW INC	60,000	$5.957M	0.6%	$145.75	—	COM	81762P102
MSFT	MICROSOFT CORP	102,000	$38.05M	4.1%	$87.16	—	COM	594918104
UBER	UBER TECHNOLOGIES INC	179,600	$12.96M	1.4%	$70.40	—	COM	90353T100