Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IEMG	ISHARES CORE EMERGING MARKETS ETF	146,804 (+1.2%)	$12.16M (+20.2%)	3.3%	$56.79	—	ETF	46434G103
GLD	SPDR GOLD SHARES	32,928 (+1.8%)	$12.13M (-12.8%)	3.3%	$175.01	—	ETF	78463V107
NOW	SERVICENOW INC COM	59,526 (+43.2%)	$5.91M (+36.0%)	1.6%	$114.58	—	Stock	81762P102
WAT	WATERS CORP COM	12,758 (+2.4%)	$4.785M (+28.9%)	1.3%	$322.88	—	Stock	941848103
QXO	QXO INC COM NEW	292,972 (+42.1%)	$5.063M (+26.5%)	1.4%	$19.76	—	Stock	82846H405
BRK/B	BERKSHIRE HATHAWAY INC DEL CL B NEW	17,559 (+5.0%)	$8.787M (+9.6%)	2.4%	$225.39	—	Stock	084670702
ABT	ABBOTT LABORATORIES	59,329 (+2.7%)	$5.384M (-9.2%)	1.4%	$56.82	—	Stock	002824100
BA	BOEING CO	27,233 (+1.1%)	$5.895M (+9.9%)	1.6%	$238.31	—	Stock	097023105
PEP	PEPSICO INC	28,612 (+3.0%)	$3.874M (-10.2%)	1.0%	$129.73	—	Stock	713448108
JNJ	JOHNSON & JOHNSON	29,954 (+1.6%)	$7.607M (+5.6%)	2.0%	$96.69	—	Stock	478160104
MUB	ISHARES NATIONAL MUNI BOND ETF	15,517 (+27.2%)	$1.67M (+29.0%)	0.4%	$107.68	—	ETF	464288414
FISV	FISERV INC	63,759 (+2.1%)	$3.127M (-10.2%)	0.8%	$93.10	—	Stock	337738108
NXRT	NEXPOINT RESIDENTIAL TRUST INC	78,082 (+1.6%)	$2.18M (+13.4%)	0.6%	$55.36	—	REIT	65341D102
SHY	ISHARES 1-3 YEAR TREASURY BOND ETF	116,587 (+3.0%)	$9.573M (+2.4%)	2.6%	$85.20	—	ETF	464287457
UBER	UBER TECHNOLOGIES INC COM	77,212 (+3.0%)	$5.572M (+3.4%)	1.5%	$51.79	—	Stock	90353T100
IGSB	ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETF	97,028 (+3.8%)	$5.085M (+3.5%)	1.4%	$52.64	—	ETF	464288646
BDX	BECTON DICKINSON & CO	28,403 (+1.1%)	$4.298M (-2.7%)	1.2%	$210.68	—	Stock	075887109
IEF	ISHARES 7-10 YEAR TREASURY BOND ETF	98,598 (+1.7%)	$9.324M (+0.8%)	2.5%	$102.78	—	ETF	464287440
RTX	RAYTHEON TECHNOLOGIES CORP	45,164 (+1.5%)	$8.569M (-0.2%)	2.3%	$79.83	—	Stock	75513E101

Exited Positions (3)

HON HONEYWELL INTERNATIONAL INC 0.2%

Value $610K Shares 2,699 Est. Cost $198.41 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.1%

Value $227K Shares 5,900 Est. Cost $36.50 Unrealized —

XOM EXXON MOBIL CORP 0.1%

Value $225K Shares 1,324 Est. Cost $138.74 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HON	HONEYWELL INTERNATIONAL INC	2,699	$610K	0.2%	$198.41	—	—	438516106
IBIT	ISHARES BITCOIN TRUST ETF	5,900	$227K	0.1%	$36.50	—	—	46438F101
XOM	EXXON MOBIL CORP	1,324	$225K	0.1%	$138.74	—	—	30231G102

Decreased Positions (11)

FLEX FLEX LTD 5.7%

Value $21.17M (+135.4%) Shares 130,607 (-4.9%) Est. Cost $8.26 Unrealized —

ASML ASML HLDG NV N Y REGISTRY SHS 2.7%

Value $9.941M (+48.8%) Shares 4,997 (-1.2%) Est. Cost $671.36 Unrealized —

AAPL APPLE INC 4.2%

Value $15.64M (+11.6%) Shares 54,059 (-2.1%) Est. Cost $95.97 Unrealized —

COST COSTCO WHOLESALE CORP 0.7%

Value $2.778M (-10.7%) Shares 2,970 (-4.9%) Est. Cost $107.12 Unrealized —

LRCX LAM RESEARCH CORP COM NEW 0.2%

Value $630K (+99.4%) Shares 1,454 (-1.7%) Est. Cost $105.52 Unrealized —

IJH ISHARES CORE S&P MID-CAP ETF 0.2%

Value $779K (+12.1%) Shares 10,107 (-1.8%) Est. Cost $79.84 Unrealized —

MSFT MICROSOFT CORP 2.3%

Value $8.554M (-0.6%) Shares 22,933 (-1.4%) Est. Cost $342.81 Unrealized —

NVDA NVIDIA CORPORATION COM 0.1%

Value $316K (+12.9%) Shares 1,579 (-1.6%) Est. Cost $131.61 Unrealized —

IVV ISHARES CORE S&P 500 ETF 0.1%

Value $374K (+4.2%) Shares 500 (-9.1%) Est. Cost $561.90 Unrealized —

XLU STATE STREET UTILITIES SELECT SECTOR SPDR ETF 0.1%

Value $259K (-5.1%) Shares 5,702 (-3.9%) Est. Cost $62.07 Unrealized —

WMB THE WILLIAMS COMPANIES INC 1.6%

Value $5.761M (-0.1%) Shares 77,497 (-2.2%) Est. Cost $17.29 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FLEX	FLEX LTD	130,607 (-4.9%)	$21.17M (+135.4%)	5.7%	$8.26	—	Stock	Y2573F102
ASML	ASML HLDG NV N Y REGISTRY SHS	4,997 (-1.2%)	$9.941M (+48.8%)	2.7%	$671.36	—	ADR	N07059210
AAPL	APPLE INC	54,059 (-2.1%)	$15.64M (+11.6%)	4.2%	$95.97	—	Stock	037833100
COST	COSTCO WHOLESALE CORP	2,970 (-4.9%)	$2.778M (-10.7%)	0.7%	$107.12	—	Stock	22160K105
LRCX	LAM RESEARCH CORP COM NEW	1,454 (-1.7%)	$630K (+99.4%)	0.2%	$105.52	—	Stock	512807306
IJH	ISHARES CORE S&P MID-CAP ETF	10,107 (-1.8%)	$779K (+12.1%)	0.2%	$79.84	—	ETF	464287507
MSFT	MICROSOFT CORP	22,933 (-1.4%)	$8.554M (-0.6%)	2.3%	$342.81	—	Stock	594918104
NVDA	NVIDIA CORPORATION COM	1,579 (-1.6%)	$316K (+12.9%)	0.1%	$131.61	—	Stock	67066G104
IVV	ISHARES CORE S&P 500 ETF	500 (-9.1%)	$374K (+4.2%)	0.1%	$561.90	—	ETF	464287200
XLU	STATE STREET UTILITIES SELECT SECTOR SPDR ETF	5,702 (-3.9%)	$259K (-5.1%)	0.1%	$62.07	—	ETF	81369Y886
WMB	THE WILLIAMS COMPANIES INC	77,497 (-2.2%)	$5.761M (-0.1%)	1.6%	$17.29	—	Stock	969457100

Unchanged Positions (50)

GOOGL ALPHABET INC 5.1%

Value $19.06M Shares 53,331 Est. Cost $115.16 Unrealized —

URI UNITED RENTALS INC 2.5%

Value $9.254M Shares 8,168 Est. Cost $207.27 Unrealized —

GE GENERAL ELECTRIC CO 2.2%

Value $8.267M Shares 22,121 Est. Cost $65.73 Unrealized —

GEV GE VERNOVA INC COM 2.1%

Value $7.683M Shares 6,540 Est. Cost $165.03 Unrealized —

AVGO BROADCOM INC COM 2.6%

Value $9.746M Shares 25,800 Est. Cost $226.21 Unrealized —

AMZN AMAZON.COM INC 2.7%

Value $9.891M Shares 41,498 Est. Cost $153.63 Unrealized —

IJR ISHARES CORE S&P SMALL CAP ETF 1.9%

Value $7.049M Shares 47,530 Est. Cost $110.20 Unrealized —

CNQ CANADIAN NAT RES LTD MED TERM COM 1.3%

Value $4.883M Shares 123,611 Est. Cost $33.13 Unrealized —

WWD WOODWARD INC 1.5%

Value $5.671M Shares 13,330 Est. Cost $78.64 Unrealized —

SNPS SYNOPSYS INC 2.0%

Value $7.5M Shares 16,814 Est. Cost $119.59 Unrealized —

V VISA INC 1.7%

Value $6.396M Shares 18,641 Est. Cost $238.34 Unrealized —

BAC BANK OF AMERICA CORP 1.4%

Value $5.366M Shares 94,166 Est. Cost $19.65 Unrealized —

SBUX STARBUCKS CORP 1.5%

Value $5.418M Shares 53,020 Est. Cost $66.98 Unrealized —

ADP AUTOMATIC DATA PROCESSING INC 1.8%

Value $6.767M Shares 30,218 Est. Cost $163.91 Unrealized —

VGK VANGUARD FTSE EUROPE ETF 2.2%

Value $8.093M Shares 91,404 Est. Cost $52.61 Unrealized —

JPM JPMORGAN CHASE & CO 1.6%

Value $5.93M Shares 18,115 Est. Cost $141.90 Unrealized —

BN BROOKFIELD CORPORATION 2.4%

Value $8.838M Shares 207,522 Est. Cost $30.97 Unrealized —

SPY STATE STREET SPDR S&P 500 ETF 0.8%

Value $3.017M Shares 4,040 Est. Cost $508.43 Unrealized —

OTIS OTIS WORLDWIDE CORP 1.2%

Value $4.376M Shares 61,117 Est. Cost $83.08 Unrealized —

LLY ELI LILLY & CO 0.3%

Value $981K Shares 818 Est. Cost $247.17 Unrealized —

ACN ACCENTURE PLC IRELAND SHS CLASS A 0.1%

Value $370K Shares 2,973 Est. Cost $349.45 Unrealized —

CMI CUMMINS INC COM 0.2%

Value $843K Shares 1,182 Est. Cost $346.08 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 2.0%

Value $7.346M Shares 14,652 Est. Cost $201.70 Unrealized —

PLD PROLOGIS INC 1.4%

Value $5.262M Shares 38,839 Est. Cost $113.20 Unrealized —

WMT WALMART INC 0.4%

Value $1.407M Shares 12,420 Est. Cost $92.97 Unrealized —

MRK MERCK & CO 0.3%

Value $1.291M Shares 10,047 Est. Cost $95.94 Unrealized —

HD HOME DEPOT INC 0.3%

Value $1.148M Shares 3,256 Est. Cost $380.72 Unrealized —

MCD MCDONALDS CORP 0.1%

Value $488K Shares 1,807 Est. Cost $292.89 Unrealized —

IEFA ISHARES CORE MSCI EAFE ETF 0.3%

Value $1.176M Shares 12,176 Est. Cost $70.25 Unrealized —

TM TOYOTA MOTOR CORP ADS 0.1%

Value $287K Shares 1,706 Est. Cost $176.53 Unrealized —

MRSH MARSH & MCLENNAN COS 0.3%

Value $1.009M Shares 6,053 Est. Cost $223.35 Unrealized —

KMB KIMBERLY-CLARK CORP 0.1%

Value $335K Shares 3,052 Est. Cost $129.79 Unrealized —

EQR EQUITY RESIDENTIAL 0.1%

Value $285K Shares 4,196 Est. Cost $60.67 Unrealized —

ITW ILLINOIS TOOL WKS INC COM 0.3%

Value $979K Shares 3,619 Est. Cost $250.04 Unrealized —

IYR ISHARES U.S. REAL ESTATE ETF 0.1%

Value $532K Shares 5,200 Est. Cost $90.04 Unrealized —

GBTC GRAYSCALE BITCOIN TRUST ETF 0.1%

Value $228K Shares 5,000 Est. Cost $63.17 Unrealized —

MDT MEDTRONIC PLC 0.1%

Value $318K Shares 4,061 Est. Cost $87.41 Unrealized —

DUK DUKE ENERGY CORP NEW COM NEW 0.3%

Value $940K Shares 7,429 Est. Cost $121.57 Unrealized —

CB CHUBB LIMITED COM 0.2%

Value $719K Shares 2,110 Est. Cost $276.25 Unrealized —

F FORD MOTOR CO 0.0%

Value $176K Shares 12,650 Est. Cost $7.22 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO COM 0.1%

Value $473K Shares 8,217 Est. Cost $55.48 Unrealized —

KMI KINDER MORGAN INC 0.1%

Value $396K Shares 12,392 Est. Cost $14.09 Unrealized —

BLK BLACKROCK INC 1.8%

Value $6.522M Shares 6,783 Est. Cost $855.39 Unrealized —

DIS THE WALT DISNEY CO 1.2%

Value $4.632M Shares 48,124 Est. Cost $109.46 Unrealized —

— REAVES UTILITY INCOME FUND 0.1%

Value $461K Shares 11,326 Est. Cost $30.14 Unrealized —

PG THE PROCTER & GAMBLE CO 0.2%

Value $870K Shares 5,935 Est. Cost $163.95 Unrealized —

UL UNILEVER PLC 0.1%

Value $226K Shares 3,756 Est. Cost $65.40 Unrealized —

OBDC BLUE OWL CAPITAL CORPORATION COM 0.0%

Value $173K Shares 15,914 Est. Cost $12.03 Unrealized —

WEC WEC ENERGY GROUP INC COM 0.1%

Value $348K Shares 2,981 Est. Cost $99.22 Unrealized —

CALI ISHARES SHORT-TERM CALIFORNIA MUNI ACTIVE ETF 0.1%

Value $303K Shares 6,000 Est. Cost $50.67 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	53,331	$19.06M	5.1%	$115.16	—	Stock	02079K305
URI	UNITED RENTALS INC	8,168	$9.254M	2.5%	$207.27	—	Stock	911363109
GE	GENERAL ELECTRIC CO	22,121	$8.267M	2.2%	$65.73	—	Stock	369604301
GEV	GE VERNOVA INC COM	6,540	$7.683M	2.1%	$165.03	—	Stock	36828A101
AVGO	BROADCOM INC COM	25,800	$9.746M	2.6%	$226.21	—	Stock	11135F101
AMZN	AMAZON.COM INC	41,498	$9.891M	2.7%	$153.63	—	Stock	023135106
IJR	ISHARES CORE S&P SMALL CAP ETF	47,530	$7.049M	1.9%	$110.20	—	ETF	464287804
CNQ	CANADIAN NAT RES LTD MED TERM COM	123,611	$4.883M	1.3%	$33.13	—	Stock	136385101
WWD	WOODWARD INC	13,330	$5.671M	1.5%	$78.64	—	Stock	980745103
SNPS	SYNOPSYS INC	16,814	$7.5M	2.0%	$119.59	—	Stock	871607107
V	VISA INC	18,641	$6.396M	1.7%	$238.34	—	Stock	92826C839
BAC	BANK OF AMERICA CORP	94,166	$5.366M	1.4%	$19.65	—	Stock	060505104
SBUX	STARBUCKS CORP	53,020	$5.418M	1.5%	$66.98	—	Stock	855244109
ADP	AUTOMATIC DATA PROCESSING INC	30,218	$6.767M	1.8%	$163.91	—	Stock	053015103
VGK	VANGUARD FTSE EUROPE ETF	91,404	$8.093M	2.2%	$52.61	—	ETF	922042874
JPM	JPMORGAN CHASE & CO	18,115	$5.93M	1.6%	$141.90	—	Stock	46625H100
BN	BROOKFIELD CORPORATION	207,522	$8.838M	2.4%	$30.97	—	Stock	11271J107
SPY	STATE STREET SPDR S&P 500 ETF	4,040	$3.017M	0.8%	$508.43	—	ETF	78462F103
OTIS	OTIS WORLDWIDE CORP	61,117	$4.376M	1.2%	$83.08	—	Stock	68902V107
LLY	ELI LILLY & CO	818	$981K	0.3%	$247.17	—	Stock	532457108
ACN	ACCENTURE PLC IRELAND SHS CLASS A	2,973	$370K	0.1%	$349.45	—	Stock	G1151C101
CMI	CUMMINS INC COM	1,182	$843K	0.2%	$346.08	—	Stock	231021106
TMO	THERMO FISHER SCIENTIFIC INC	14,652	$7.346M	2.0%	$201.70	—	Stock	883556102
PLD	PROLOGIS INC	38,839	$5.262M	1.4%	$113.20	—	REIT	74340W103
WMT	WALMART INC	12,420	$1.407M	0.4%	$92.97	—	Stock	931142103
MRK	MERCK & CO	10,047	$1.291M	0.3%	$95.94	—	Stock	58933Y105
HD	HOME DEPOT INC	3,256	$1.148M	0.3%	$380.72	—	Stock	437076102
MCD	MCDONALDS CORP	1,807	$488K	0.1%	$292.89	—	Stock	580135101
IEFA	ISHARES CORE MSCI EAFE ETF	12,176	$1.176M	0.3%	$70.25	—	ETF	46432F842
TM	TOYOTA MOTOR CORP ADS	1,706	$287K	0.1%	$176.53	—	ADR	892331307
MRSH	MARSH & MCLENNAN COS	6,053	$1.009M	0.3%	$223.35	—	Stock	571748102
KMB	KIMBERLY-CLARK CORP	3,052	$335K	0.1%	$129.79	—	Stock	494368103
EQR	EQUITY RESIDENTIAL	4,196	$285K	0.1%	$60.67	—	REIT	29476L107
ITW	ILLINOIS TOOL WKS INC COM	3,619	$979K	0.3%	$250.04	—	Stock	452308109
IYR	ISHARES U.S. REAL ESTATE ETF	5,200	$532K	0.1%	$90.04	—	ETF	464287739
GBTC	GRAYSCALE BITCOIN TRUST ETF	5,000	$228K	0.1%	$63.17	—	ETF	389637109
MDT	MEDTRONIC PLC	4,061	$318K	0.1%	$87.41	—	Stock	G5960L103
DUK	DUKE ENERGY CORP NEW COM NEW	7,429	$940K	0.3%	$121.57	—	Stock	26441C204
CB	CHUBB LIMITED COM	2,110	$719K	0.2%	$276.25	—	Stock	H1467J104
F	FORD MOTOR CO	12,650	$176K	0.0%	$7.22	—	Stock	345370860
BMY	BRISTOL-MYERS SQUIBB CO COM	8,217	$473K	0.1%	$55.48	—	Stock	110122108
KMI	KINDER MORGAN INC	12,392	$396K	0.1%	$14.09	—	Stock	49456B101
BLK	BLACKROCK INC	6,783	$6.522M	1.8%	$855.39	—	Stock	09290D101
DIS	THE WALT DISNEY CO	48,124	$4.632M	1.2%	$109.46	—	Stock	254687106
—	REAVES UTILITY INCOME FUND	11,326	$461K	0.1%	$30.14	—	CEF	756158101
PG	THE PROCTER & GAMBLE CO	5,935	$870K	0.2%	$163.95	—	Stock	742718109
UL	UNILEVER PLC	3,756	$226K	0.1%	$65.40	—	ADR	904767803
OBDC	BLUE OWL CAPITAL CORPORATION COM	15,914	$173K	0.0%	$12.03	—	CEF	69121K104
WEC	WEC ENERGY GROUP INC COM	2,981	$348K	0.1%	$99.22	—	Stock	92939U106
CALI	ISHARES SHORT-TERM CALIFORNIA MUNI ACTIVE ETF	6,000	$303K	0.1%	$50.67	—	ETF	092528884