Act Two Investors LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC	71,354 (+25383.6%)	$6,690 (+1892.9%)	1.2%	$107.71	+0.1%	COM	64110L106
TMUS	T-MOBILE US INC	157,109 (+1.2%)	$31,899 (-14.2%)	5.7%	$133.59	+58.2%	COM	872590104
CNI	CANADIAN NATL RY CO	146,385 (+35.9%)	$14,470 (+42.5%)	2.6%	$96.36	-0.2%	COM	136375102
ADBE	ADOBE INC	48,599 (+12.5%)	$17,009 (+11.6%)	3.1%	$356.68	-4.7%	COM	00724F101
ES	EVERSOURCE ENERGY	425,104 (+1.2%)	$28,622 (-4.2%)	5.1%	$58.12	+19.7%	COM	30040W108
VGLT	VANGUARD SCOTTSDALE FDS	107,689 (+5.0%)	$6,009 (+3.0%)	1.1%	$56.81	—	LONG TERM TREAS	92206C847

Exited Positions (2)

ARE ALEXANDRIA REAL ESTATE EQ IN 4.1%

Value ($000) $22,943 Shares 275,290 Est. Cost $77.73 Unrealized -25.4%

FISV FISERV INC 3.6%

Value ($000) $20,121 Shares 156,060 Est. Cost $187.90 Unrealized -55.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ARE	ALEXANDRIA REAL ESTATE EQ IN	275,290	$22,943	4.1%	$77.73	-25.4%	—	015271109
FISV	FISERV INC	156,060	$20,121	3.6%	$187.90	-55.4%	—	337738108

Decreased Positions (18)

GOOG ALPHABET INC 14.3%

Value ($000) $79,768 (+26.9%) Shares 254,199 (-1.5%) Est. Cost $104.40 Unrealized +174.3%

MSFT MICROSOFT CORP 12.7%

Value ($000) $70,594 (-9.1%) Shares 145,970 (-2.6%) Est. Cost $217.00 Unrealized +130.7%

SLM SLM CORP 0.2%

Value ($000) $1,015 (-82.7%) Shares 37,514 (-82.3%) Est. Cost $26.14 Unrealized +4.9%

IQV IQVIA HLDGS INC 6.7%

Value ($000) $37,137 (+14.8%) Shares 164,754 (-3.3%) Est. Cost $150.91 Unrealized +44.2%

AZN ASTRAZENECA PLC 5.8%

Value ($000) $32,339 (+15.8%) Shares 351,775 (-3.4%) Est. Cost $70.67 Unrealized —

NXPI NXP SEMICONDUCTORS N V 0.2%

Value ($000) $1,021 (-74.5%) Shares 4,704 (-73.2%) Est. Cost $149.60 Unrealized +42.8%

SCHO SCHWAB STRATEGIC TR 1.3%

Value ($000) $6,971 (-27.0%) Shares 286,062 (-27.0%) Est. Cost $24.22 Unrealized —

SYK STRYKER CORPORATION 0.8%

Value ($000) $4,236 (-19.2%) Shares 12,053 (-15.0%) Est. Cost $228.78 Unrealized +58.9%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.3%

Value ($000) $1,629 (-32.5%) Shares 3,240 (-32.5%) Est. Cost $356.44 Unrealized +39.6%

AMZN AMAZON COM INC 7.5%

Value ($000) $41,904 (+1.7%) Shares 181,545 (-3.3%) Est. Cost $112.40 Unrealized +103.5%

ORCL ORACLE CORP 0.1%

Value ($000) $730 (-44.8%) Shares 3,745 (-20.4%) Est. Cost $127.79 Unrealized +86.3%

NVDA NVIDIA CORPORATION 3.5%

Value ($000) $19,380 (-2.7%) Shares 103,915 (-2.6%) Est. Cost $125.84 Unrealized +47.9%

MCK MCKESSON CORP 1.3%

Value ($000) $7,317 (+5.0%) Shares 8,920 (-1.1%) Est. Cost $177.84 Unrealized +358.6%

META META PLATFORMS INC 0.4%

Value ($000) $2,343 (-11.2%) Shares 3,550 (-1.2%) Est. Cost $188.90 Unrealized +253.3%

XLF SELECT SECTOR SPDR TR 0.1%

Value ($000) $321 (-41.3%) Shares 5,868 (-42.3%) Est. Cost $32.57 Unrealized —

GOOGL ALPHABET INC 0.8%

Value ($000) $4,545 (-3.4%) Shares 14,522 (-25.0%) Est. Cost $119.60 Unrealized +138.8%

AAPL APPLE INC 4.0%

Value ($000) $22,314 (-0.3%) Shares 82,079 (-6.6%) Est. Cost $121.43 Unrealized +121.0%

V VISA INC 6.5%

Value ($000) $35,999 (-0.1%) Shares 102,647 (-2.8%) Est. Cost $207.63 Unrealized +63.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	ALPHABET INC	254,199 (-1.5%)	$79,768 (+26.9%)	14.3%	$104.40	+174.3%	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	145,970 (-2.6%)	$70,594 (-9.1%)	12.7%	$217.00	+130.7%	COM	594918104
SLM	SLM CORP	37,514 (-82.3%)	$1,015 (-82.7%)	0.2%	$26.14	+4.9%	COM	78442P106
IQV	IQVIA HLDGS INC	164,754 (-3.3%)	$37,137 (+14.8%)	6.7%	$150.91	+44.2%	COM	46266C105
AZN	ASTRAZENECA PLC	351,775 (-3.4%)	$32,339 (+15.8%)	5.8%	$70.67	—	SPONSORED ADR	046353108
NXPI	NXP SEMICONDUCTORS N V	4,704 (-73.2%)	$1,021 (-74.5%)	0.2%	$149.60	+42.8%	COM	N6596X109
SCHO	SCHWAB STRATEGIC TR	286,062 (-27.0%)	$6,971 (-27.0%)	1.3%	$24.22	—	SHT TM US TRES	808524862
SYK	STRYKER CORPORATION	12,053 (-15.0%)	$4,236 (-19.2%)	0.8%	$228.78	+58.9%	COM	863667101
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,240 (-32.5%)	$1,629 (-32.5%)	0.3%	$356.44	+39.6%	CL B NEW	084670702
AMZN	AMAZON COM INC	181,545 (-3.3%)	$41,904 (+1.7%)	7.5%	$112.40	+103.5%	COM	023135106
ORCL	ORACLE CORP	3,745 (-20.4%)	$730 (-44.8%)	0.1%	$127.79	+86.3%	COM	68389X105
NVDA	NVIDIA CORPORATION	103,915 (-2.6%)	$19,380 (-2.7%)	3.5%	$125.84	+47.9%	COM	67066G104
MCK	MCKESSON CORP	8,920 (-1.1%)	$7,317 (+5.0%)	1.3%	$177.84	+358.6%	COM	58155Q103
META	META PLATFORMS INC	3,550 (-1.2%)	$2,343 (-11.2%)	0.4%	$188.90	+253.3%	CL A	30303M102
XLF	SELECT SECTOR SPDR TR	5,868 (-42.3%)	$321 (-41.3%)	0.1%	$32.57	—	STATE STREET FIN	81369Y605
GOOGL	ALPHABET INC	14,522 (-25.0%)	$4,545 (-3.4%)	0.8%	$119.60	+138.8%	CAP STK CL A	02079K305
AAPL	APPLE INC	82,079 (-6.6%)	$22,314 (-0.3%)	4.0%	$121.43	+121.0%	COM	037833100
V	VISA INC	102,647 (-2.8%)	$35,999 (-0.1%)	6.5%	$207.63	+63.9%	COM CL A	92826C839

Unchanged Positions (13)

LLY ELI LILLY & CO 1.6%

Value ($000) $9,070 Shares 8,440 Est. Cost $742.24 Unrealized +28.7%

TMO THERMO FISHER SCIENTIFIC 0.7%

Value ($000) $3,888 Shares 6,710 Est. Cost $450.01 Unrealized +25.6%

JPM JPMORGAN CHASE & CO. 1.6%

Value ($000) $9,115 Shares 28,287 Est. Cost $89.16 Unrealized +247.2%

IEF ISHARES TR 4.1%

Value ($000) $23,054 Shares 239,751 Est. Cost $95.20 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG 0.1%

Value ($000) $631 Shares 2,078 Est. Cost $104.00 Unrealized —

AXP AMERICAN EXPRESS CO 0.1%

Value ($000) $362 Shares 979 Est. Cost $156.99 Unrealized +127.4%

EWBC EAST WEST BANCORP INC 0.1%

Value ($000) $592 Shares 5,270 Est. Cost $56.62 Unrealized +85.7%

SCHR SCHWAB STRATEGIC TR 1.7%

Value ($000) $9,236 Shares 368,270 Est. Cost $35.98 Unrealized —

CP CANADIAN PACIFIC KANSAS 0.5%

Value ($000) $2,590 Shares 35,181 Est. Cost $76.98 Unrealized -4.4%

PRU PRUDENTIAL FINL INC 0.0%

Value ($000) $225 Shares 1,990 Est. Cost $108.13 Unrealized -1.5%

MCD MCDONALDS CORP 0.4%

Value ($000) $2,084 Shares 6,820 Est. Cost $155.05 Unrealized +96.8%

AON AON PLC 0.1%

Value ($000) $803 Shares 2,275 Est. Cost $315.26 Unrealized +10.8%

BKNG BOOKING HOLDINGS INC 0.1%

Value ($000) $755 Shares 141 Est. Cost $3438.99 Unrealized +49.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	8,440	$9,070	1.6%	$742.24	+28.7%	COM	532457108
TMO	THERMO FISHER SCIENTIFIC	6,710	$3,888	0.7%	$450.01	+25.6%	COM	883556102
JPM	JPMORGAN CHASE & CO.	28,287	$9,115	1.6%	$89.16	+247.2%	COM	46625H100
IEF	ISHARES TR	239,751	$23,054	4.1%	$95.20	—	7-10 YR TRSY BD	464287440
TSM	TAIWAN SEMICONDUCTOR MFG	2,078	$631	0.1%	$104.00	—	SPONSORED ADS	874039100
AXP	AMERICAN EXPRESS CO	979	$362	0.1%	$156.99	+127.4%	COM	025816109
EWBC	EAST WEST BANCORP INC	5,270	$592	0.1%	$56.62	+85.7%	COM	27579R104
SCHR	SCHWAB STRATEGIC TR	368,270	$9,236	1.7%	$35.98	—	INT-TRM U.S TRES	808524854
CP	CANADIAN PACIFIC KANSAS	35,181	$2,590	0.5%	$76.98	-4.4%	COM	13646K108
PRU	PRUDENTIAL FINL INC	1,990	$225	0.0%	$108.13	-1.5%	COM	744320102
MCD	MCDONALDS CORP	6,820	$2,084	0.4%	$155.05	+96.8%	COM	580135101
AON	AON PLC	2,275	$803	0.1%	$315.26	+10.8%	SHS CL A	G0403H108
BKNG	BOOKING HOLDINGS INC	141	$755	0.1%	$3438.99	+49.4%	COM	09857L108