Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DHR	DANAHER CORP DEL	97,372 (+52.6%)	$19.48M (+75.0%)	12.6%	$225.59	—	COM	235851102
BX	BLACKSTONE INC	135,500 (+70.6%)	$15.94M (+74.6%)	10.3%	$139.78	—	COM	09260D107
B	BARRICK MNG CORP	35,000 (+245.7%)	$1.266M (+206.4%)	0.8%	$32.97	—	COM SHS	06849F108
AMZN	AMAZON COM INC	9,506 (+3.3%)	$2.266M (+18.2%)	1.5%	$194.71	—	COM	023135106
RTX	RTX CORPORATION	3,510 (+67.1%)	$666K (+64.4%)	0.4%	$193.85	—	COM	75513E101
GS	GOLDMAN SACHS GROUP INC	1,293 (+7.5%)	$1.217M (+19.5%)	0.8%	$749.19	—	COM	38141G104
BA	BOEING CO	9,350 (+1.6%)	$2.024M (+10.5%)	1.3%	$190.44	—	COM	097023105
KKR	KKR & CO INC	16,144 (+10.7%)	$1.632M (+11.6%)	1.1%	$54.68	—	COM	48251W104
MP	MP MATERIALS CORP	7,250 (+26.1%)	$406K (+46.3%)	0.3%	$61.48	—	COM CL A	553368101
GT	GOODYEAR TIRE & RUBR CO	60,300 (+39.6%)	$398K (+39.0%)	0.3%	$10.40	—	COM	382550101
HD	HOME DEPOT INC	1,570 (+6.0%)	$554K (+13.7%)	0.4%	$281.64	—	COM	437076102
MSFT	MICROSOFT CORP	9,963 (+1.2%)	$3.716M (+1.6%)	2.4%	$235.43	—	COM	594918104
DUK	DUKE ENERGY CORP NEW	2,439 (+6.6%)	$309K (+3.0%)	0.2%	$121.23	—	COM NEW	26441C204

Decreased Positions (23)

ADM ARCHER DANIELS MIDLAND CO 3.3%

Value $5.083M (+179.6%) Shares 8,750 (-2.1%) Est. Cost $50.46 Unrealized —

INTC INTEL CORP 2.4%

Value $3.767M (+199.7%) Shares 26,975 (-5.3%) Est. Cost $29.44 Unrealized —

JNJ JOHNSON & JOHNSON 1.3%

Value $2.008M (-51.2%) Shares 7,907 (-53.0%) Est. Cost $94.10 Unrealized —

MU MICRON TECHNOLOGY INC 1.4%

Value $2.12M (+156.0%) Shares 1,837 (-25.1%) Est. Cost $127.82 Unrealized —

MMM 3M CO 0.2%

Value $324K (-76.5%) Shares 2,000 (-78.9%) Est. Cost $86.70 Unrealized —

WMT WALMART INC 2.4%

Value $3.647M (-17.6%) Shares 32,200 (-9.6%) Est. Cost $55.18 Unrealized —

QS QUANTUMSCAPE CORP 2.5%

Value $3.802M (+22.8%) Shares 38,650 (-2.5%) Est. Cost $5.22 Unrealized —

COST COSTCO WHOLESALE CORPORATION 2.8%

Value $4.336M (-11.0%) Shares 4,635 (-5.2%) Est. Cost $533.56 Unrealized —

CMCSA COMCAST CORP NEW 0.3%

Value $393K (-47.4%) Shares 16,000 (-38.5%) Est. Cost $30.61 Unrealized —

T AT&T INC 0.4%

Value $565K (-34.3%) Shares 27,290 (-8.1%) Est. Cost $15.40 Unrealized —

TXN TEXAS INSTRS INC 0.7%

Value $1.151M (+31.7%) Shares 3,860 (-14.2%) Est. Cost $167.96 Unrealized —

GOOGL ALPHABET INC 0.9%

Value $1.361M (+24.3%) Shares 3,609 (-5.3%) Est. Cost $211.56 Unrealized —

PG PROCTER & GAMBLE CO 0.8%

Value $1.274M (-15.1%) Shares 8,685 (-16.4%) Est. Cost $85.60 Unrealized —

BAC BANK OF AMER CORP 1.8%

Value $2.836M (+6.2%) Shares 49,770 (-9.1%) Est. Cost $34.01 Unrealized —

PFE PFIZER INC 0.1%

Value $227K (-26.7%) Shares 9,417 (-14.5%) Est. Cost $23.72 Unrealized —

MDLZ MONDELEZ INTL INC 0.3%

Value $484K (-14.4%) Shares 8,376 (-14.7%) Est. Cost $65.83 Unrealized —

ABBV ABBVIE INC 2.0%

Value $3.127M (+1.4%) Shares 12,425 (-12.3%) Est. Cost $57.12 Unrealized —

PSKY PARAMOUNT SKYDANCE CORP 0.1%

Value $150K (-22.3%) Shares 15,250 (-28.9%) Est. Cost $15.56 Unrealized —

ITW ILLINOIS TOOL WKS INC 1.0%

Value $1.569M (-2.6%) Shares 5,800 (-6.2%) Est. Cost $161.46 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.3%

Value $421K (-8.1%) Shares 7,300 (-3.3%) Est. Cost $39.62 Unrealized —

NSC NORFOLK SOUTHN CORP 0.2%

Value $378K (-3.4%) Shares 1,200 (-11.8%) Est. Cost $276.03 Unrealized —

JPM JPMORGAN CHASE & CO 1.3%

Value $2.033M (-0.6%) Shares 6,210 (-10.7%) Est. Cost $91.37 Unrealized —

AMGN AMGEN INC 3.8%

Value $5.868M (+0.1%) Shares 16,205 (-2.7%) Est. Cost $180.65 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ADM	ARCHER DANIELS MIDLAND CO	8,750 (-2.1%)	$5.083M (+179.6%)	3.3%	$50.46	—	COM	039483102
INTC	INTEL CORP	26,975 (-5.3%)	$3.767M (+199.7%)	2.4%	$29.44	—	COM	458140100
JNJ	JOHNSON & JOHNSON	7,907 (-53.0%)	$2.008M (-51.2%)	1.3%	$94.10	—	COM	478160104
MU	MICRON TECHNOLOGY INC	1,837 (-25.1%)	$2.12M (+156.0%)	1.4%	$127.82	—	COM	595112103
MMM	3M CO	2,000 (-78.9%)	$324K (-76.5%)	0.2%	$86.70	—	COM	88579Y101
WMT	WALMART INC	32,200 (-9.6%)	$3.647M (-17.6%)	2.4%	$55.18	—	COM	931142103
QS	QUANTUMSCAPE CORP	38,650 (-2.5%)	$3.802M (+22.8%)	2.5%	$5.22	—	COM CL A	74767V109
COST	COSTCO WHOLESALE CORPORATION	4,635 (-5.2%)	$4.336M (-11.0%)	2.8%	$533.56	—	COM	22160K105
CMCSA	COMCAST CORP NEW	16,000 (-38.5%)	$393K (-47.4%)	0.3%	$30.61	—	CL A	20030N101
T	AT&T INC	27,290 (-8.1%)	$565K (-34.3%)	0.4%	$15.40	—	COM	00206R102
TXN	TEXAS INSTRS INC	3,860 (-14.2%)	$1.151M (+31.7%)	0.7%	$167.96	—	COM	882508104
GOOGL	ALPHABET INC	3,609 (-5.3%)	$1.361M (+24.3%)	0.9%	$211.56	—	CAP STK CL A	02079K305
PG	PROCTER & GAMBLE CO	8,685 (-16.4%)	$1.274M (-15.1%)	0.8%	$85.60	—	COM	742718109
BAC	BANK OF AMER CORP	49,770 (-9.1%)	$2.836M (+6.2%)	1.8%	$34.01	—	COM	060505104
PFE	PFIZER INC	9,417 (-14.5%)	$227K (-26.7%)	0.1%	$23.72	—	COM	717081103
MDLZ	MONDELEZ INTL INC	8,376 (-14.7%)	$484K (-14.4%)	0.3%	$65.83	—	CL A	609207105
ABBV	ABBVIE INC	12,425 (-12.3%)	$3.127M (+1.4%)	2.0%	$57.12	—	COM	00287Y109
PSKY	PARAMOUNT SKYDANCE CORP	15,250 (-28.9%)	$150K (-22.3%)	0.1%	$15.56	—	COM CL B	69932A204
ITW	ILLINOIS TOOL WKS INC	5,800 (-6.2%)	$1.569M (-2.6%)	1.0%	$161.46	—	COM	452308109
BMY	BRISTOL-MYERS SQUIBB CO	7,300 (-3.3%)	$421K (-8.1%)	0.3%	$39.62	—	COM	110122108
NSC	NORFOLK SOUTHN CORP	1,200 (-11.8%)	$378K (-3.4%)	0.2%	$276.03	—	COM	655844108
JPM	JPMORGAN CHASE & CO	6,210 (-10.7%)	$2.033M (-0.6%)	1.3%	$91.37	—	COM	46625H100
AMGN	AMGEN INC	16,205 (-2.7%)	$5.868M (+0.1%)	3.8%	$180.65	—	COM	031162100

Unchanged Positions (24)

AAPL APPLE INC 14.7%

Value $22.73M Shares 78,541 Est. Cost $146.18 Unrealized —

CAT CATERPILLAR INC 3.3%

Value $5.112M Shares 4,800 Est. Cost $215.02 Unrealized —

AMAT APPLIED MATLS INC 1.4%

Value $2.184M Shares 3,020 Est. Cost $184.45 Unrealized —

GE GE AEROSPACE 2.7%

Value $4.17M Shares 11,159 Est. Cost $122.48 Unrealized —

CVX CHEVRON CORPORATION 2.2%

Value $3.347M Shares 20,190 Est. Cost $96.03 Unrealized —

GEV GE VERNOVA INC 2.0%

Value $3.128M Shares 2,663 Est. Cost $311.89 Unrealized —

CSCO CISCO SYS INC 1.3%

Value $2.073M Shares 17,645 Est. Cost $31.74 Unrealized —

XOM EXXON MOBIL CORP 1.1%

Value $1.754M Shares 12,829 Est. Cost $87.89 Unrealized —

CSX CSX CORP 1.5%

Value $2.343M Shares 49,295 Est. Cost $30.25 Unrealized —

C CITIGROUP INC 0.8%

Value $1.273M Shares 9,095 Est. Cost $49.07 Unrealized —

BIIB BIOGEN INC 0.8%

Value $1.188M Shares 5,500 Est. Cost $277.38 Unrealized —

AXP AMERICAN EXPRESS CO 1.0%

Value $1.519M Shares 4,492 Est. Cost $316.55 Unrealized —

DE DEERE & CO 0.7%

Value $1.014M Shares 1,598 Est. Cost $359.11 Unrealized —

NOC NORTHROP GRUMMAN CORP 0.2%

Value $280K Shares 550 Est. Cost $673.66 Unrealized —

PEP PEPSICO INC 0.3%

Value $454K Shares 3,350 Est. Cost $129.14 Unrealized —

ABT ABBOTT LABORATORIES 0.3%

Value $476K Shares 5,250 Est. Cost $39.55 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.9%

Value $1.445M Shares 2,888 Est. Cost $278.57 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.3%

Value $408K Shares 1,450 Est. Cost $155.54 Unrealized —

GILD GILEAD SCIENCES INC 0.3%

Value $474K Shares 3,750 Est. Cost $60.05 Unrealized —

V VISA INC 0.3%

Value $409K Shares 1,193 Est. Cost $216.09 Unrealized —

PJT PJT PARTNERS INC 0.4%

Value $644K Shares 4,267 Est. Cost $179.55 Unrealized —

EMR EMERSON ELEC CO 0.3%

Value $484K Shares 3,383 Est. Cost $73.37 Unrealized —

WBD WARNER BROS DISCOVERY INC 0.6%

Value $926K Shares 34,750 Est. Cost $10.81 Unrealized —

UPS UNITED PARCEL SVCS INC 0.2%

Value $294K Shares 2,736 Est. Cost $109.86 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	78,541	$22.73M	14.7%	$146.18	—	COM	037833100
CAT	CATERPILLAR INC	4,800	$5.112M	3.3%	$215.02	—	COM	149123101
AMAT	APPLIED MATLS INC	3,020	$2.184M	1.4%	$184.45	—	COM	038222105
GE	GE AEROSPACE	11,159	$4.17M	2.7%	$122.48	—	COM NEW	369604301
CVX	CHEVRON CORPORATION	20,190	$3.347M	2.2%	$96.03	—	COM	166764100
GEV	GE VERNOVA INC	2,663	$3.128M	2.0%	$311.89	—	COM	36828A101
CSCO	CISCO SYS INC	17,645	$2.073M	1.3%	$31.74	—	COM	17275R102
XOM	EXXON MOBIL CORP	12,829	$1.754M	1.1%	$87.89	—	COM	30231G102
CSX	CSX CORP	49,295	$2.343M	1.5%	$30.25	—	COM	126408103
C	CITIGROUP INC	9,095	$1.273M	0.8%	$49.07	—	COM NEW	172967424
BIIB	BIOGEN INC	5,500	$1.188M	0.8%	$277.38	—	COM	09062X103
AXP	AMERICAN EXPRESS CO	4,492	$1.519M	1.0%	$316.55	—	COM	025816109
DE	DEERE & CO	1,598	$1.014M	0.7%	$359.11	—	COM	244199105
NOC	NORTHROP GRUMMAN CORP	550	$280K	0.2%	$673.66	—	COM	666807102
PEP	PEPSICO INC	3,350	$454K	0.3%	$129.14	—	COM	713448108
ABT	ABBOTT LABORATORIES	5,250	$476K	0.3%	$39.55	—	COM	002824100
BRK/B	BERKSHIRE HATHAWAY INC DEL	2,888	$1.445M	0.9%	$278.57	—	CL B NEW	084670702
IBM	INTERNATIONAL BUSINESS MACHS	1,450	$408K	0.3%	$155.54	—	COM	459200101
GILD	GILEAD SCIENCES INC	3,750	$474K	0.3%	$60.05	—	COM	375558103
V	VISA INC	1,193	$409K	0.3%	$216.09	—	COM CL A	92826C839
PJT	PJT PARTNERS INC	4,267	$644K	0.4%	$179.55	—	COM CL A	69343T107
EMR	EMERSON ELEC CO	3,383	$484K	0.3%	$73.37	—	COM	291011104
WBD	WARNER BROS DISCOVERY INC	34,750	$926K	0.6%	$10.81	—	COM SER A	934423104
UPS	UNITED PARCEL SVCS INC	2,736	$294K	0.2%	$109.86	—	CL B	911312106