Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
DHR	DANAHER CORP DEL	98,534 (+1.2%)	$22.5M (+15.5%)	14.3%	$228.38 *	$219.05	+1.1%	COM	235851102
AMAT	APPLIED MATLS INC	3,143 (+4.1%)	$1.608M (-26.4%)	1.0%	$511.49	$197.10	+159.5%	COM	038222105
AMZN	AMAZON COM INC	10,564 (+11.1%)	$2.632M (+16.2%)	1.7%	$249.15	$200.14	+24.5%	COM	023135106
BA	BOEING CO	9,625 (+2.9%)	$1.791M (-11.5%)	1.1%	$186.05	$191.05	-2.6%	COM	097023105
B	BARRICK MNG CORP	36,150 (+3.3%)	$1.47M (+16.2%)	0.9%	$40.67	$36.55	+11.3%	COM SHS	06849F108
WMT	WALMART INC	33,269 (+3.3%)	$3.457M (-5.2%)	2.2%	$103.92	$56.94	+82.5%	COM	931142103
GOOGL	ALPHABET INC	4,402 (+22.0%)	$1.515M (+11.3%)	1.0%	$344.08	$235.82	+45.9%	CAP STK CL A	02079K305
BAC	BANK OF AMER CORP	50,285 (+1.0%)	$2.737M (-3.5%)	1.7%	$54.43	$34.29	+58.8%	COM	060505104
HD	HOME DEPOT INC	1,651 (+5.2%)	$470K (-15.2%)	0.3%	$284.48	$282.46	+0.7%	COM	437076102
JPM	JPMORGAN CHASE & CO	6,351 (+2.3%)	$2.101M (+3.4%)	1.3%	$330.83	$97.10	+240.7%	COM	46625H100
V	VISA INC	1,290 (+8.1%)	$464K (+13.2%)	0.3%	$359.33	$227.33	+58.1%	COM CL A	92826C839
C	CITIGROUP INC	9,521 (+4.7%)	$1.233M (-3.2%)	0.8%	$129.49	$52.90	+144.8%	COM NEW	172967424
MP	MP MATERIALS CORP	8,000 (+10.3%)	$378K (-6.8%)	0.2%	$47.29	$61.39	-23.0%	COM CL A	553368101
MMM	3M CO	2,900 (+45.0%)	$328K (+1.4%)	0.2%	$113.21 *	$112.72	+45.6%	COM	88579Y101

Exited Positions (2)

XOM EXXON MOBIL CORP 1.1%

Value $1.754M Shares 12,829 Share Price $136.72 * Est. Cost/Share $87.89 Unrealized @ Report Date +85.2%

PSKY PARAMOUNT SKYDANCE CORP 0.1%

Value $150K Shares 15,250 Share Price $9.86 * Est. Cost/Share $15.56 Unrealized @ Report Date -33.6%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXON MOBIL CORP	12,829	$1.754M	1.1%	$136.72 *	$87.89	+85.2%	—	30231G102
PSKY	PARAMOUNT SKYDANCE CORP	15,250	$150K	0.1%	$9.86 *	$15.56	-33.6%	—	69932A204

Decreased Positions (16)

AAPL APPLE INC 16.2%

Value $25.34M (+11.5%) Shares 76,102 (-3.1%) Share Price $333.02 Est. Cost/Share $146.18 Unrealized @ Report Date +127.8%

COST COSTCO WHOLESALE CORPORATION 1.8%

Value $2.853M (-34.2%) Shares 3,134 (-32.4%) Share Price $910.34 Est. Cost/Share $533.56 Unrealized @ Report Date +70.6%

MSFT MICROSOFT CORP 3.2%

Value $4.957M (+33.4%) Shares 9,665 (-3.0%) Share Price $512.90 Est. Cost/Share $235.80 Unrealized @ Report Date +117.5%

AMGN AMGEN INC 4.2%

Value $6.62M (+12.8%) Shares 15,705 (-3.1%) Share Price $421.52 Est. Cost/Share $180.86 Unrealized @ Report Date +133.1%

CVX CHEVRON CORPORATION 2.6%

Value $4.026M (+20.3%) Shares 19,715 (-2.4%) Share Price $204.21 Est. Cost/Share $96.03 Unrealized @ Report Date +112.7%

TXN TEXAS INSTRS INC 0.4%

Value $700K (-39.1%) Shares 2,500 (-35.2%) Share Price $280.09 Est. Cost/Share $167.96 Unrealized @ Report Date +66.8%

QS QUANTUMSCAPE CORP 2.2%

Value $3.459M (-9.0%) Shares 10,150 (-73.7%) Share Price $340.74 * Est. Cost/Share $5.10 Unrealized @ Report Date -9.0%

MU MICRON TECHNOLOGY INC 1.2%

Value $1.814M (-14.5%) Shares 1,703 (-7.3%) Share Price $1065.10 Est. Cost/Share $127.82 Unrealized @ Report Date +733.3%

BIIB BIOGEN INC 0.6%

Value $994K (-16.4%) Shares 4,400 (-20.0%) Share Price $225.88 Est. Cost/Share $277.40 Unrealized @ Report Date -18.6%

JNJ JOHNSON & JOHNSON 1.2%

Value $1.829M (-8.9%) Shares 6,910 (-12.6%) Share Price $264.75 Est. Cost/Share $94.10 Unrealized @ Report Date +181.4%

GT GOODYEAR TIRE & RUBR CO 0.2%

Value $290K (-27.2%) Shares 58,300 (-3.3%) Share Price $4.97 Est. Cost/Share $10.35 Unrealized @ Report Date -52.0%

GS GOLDMAN SACHS GROUP INC 0.7%

Value $1.108M (-8.9%) Shares 1,231 (-4.8%) Share Price $900.36 Est. Cost/Share $751.55 Unrealized @ Report Date +19.8%

WBD WARNER BROS DISCOVERY INC 0.6%

Value $1.014M (+9.4%) Shares 32,750 (-5.8%) Share Price $30.95 Est. Cost/Share $10.81 Unrealized @ Report Date +186.3%

MDLZ MONDELEZ INTL INC 0.3%

Value $427K (-11.9%) Shares 7,385 (-11.8%) Share Price $57.82 Est. Cost/Share $65.83 Unrealized @ Report Date -12.2%

PG PROCTER & GAMBLE CO 0.8%

Value $1.218M (-4.3%) Shares 8,385 (-3.5%) Share Price $145.28 Est. Cost/Share $85.60 Unrealized @ Report Date +69.7%

ABT ABBOTT LABORATORIES 0.3%

Value $469K (-1.5%) Shares 4,750 (-9.5%) Share Price $98.83 Est. Cost/Share $39.55 Unrealized @ Report Date +149.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AAPL	APPLE INC	76,102 (-3.1%)	$25.34M (+11.5%)	16.2%	$333.02	$146.18	+127.8%	COM	037833100
COST	COSTCO WHOLESALE CORPORATION	3,134 (-32.4%)	$2.853M (-34.2%)	1.8%	$910.34	$533.56	+70.6%	COM	22160K105
MSFT	MICROSOFT CORP	9,665 (-3.0%)	$4.957M (+33.4%)	3.2%	$512.90	$235.80	+117.5%	COM	594918104
AMGN	AMGEN INC	15,705 (-3.1%)	$6.62M (+12.8%)	4.2%	$421.52	$180.86	+133.1%	COM	031162100
CVX	CHEVRON CORPORATION	19,715 (-2.4%)	$4.026M (+20.3%)	2.6%	$204.21	$96.03	+112.7%	COM	166764100
TXN	TEXAS INSTRS INC	2,500 (-35.2%)	$700K (-39.1%)	0.4%	$280.09	$167.96	+66.8%	COM	882508104
QS	QUANTUMSCAPE CORP	10,150 (-73.7%)	$3.459M (-9.0%)	2.2%	$340.74 *	$5.10	-9.0%	COM CL A	74767V109
MU	MICRON TECHNOLOGY INC	1,703 (-7.3%)	$1.814M (-14.5%)	1.2%	$1065.10	$127.82	+733.3%	COM	595112103
BIIB	BIOGEN INC	4,400 (-20.0%)	$994K (-16.4%)	0.6%	$225.88	$277.40	-18.6%	COM	09062X103
JNJ	JOHNSON & JOHNSON	6,910 (-12.6%)	$1.829M (-8.9%)	1.2%	$264.75	$94.10	+181.4%	COM	478160104
GT	GOODYEAR TIRE & RUBR CO	58,300 (-3.3%)	$290K (-27.2%)	0.2%	$4.97	$10.35	-52.0%	COM	382550101
GS	GOLDMAN SACHS GROUP INC	1,231 (-4.8%)	$1.108M (-8.9%)	0.7%	$900.36	$751.55	+19.8%	COM	38141G104
WBD	WARNER BROS DISCOVERY INC	32,750 (-5.8%)	$1.014M (+9.4%)	0.6%	$30.95	$10.81	+186.3%	COM SER A	934423104
MDLZ	MONDELEZ INTL INC	7,385 (-11.8%)	$427K (-11.9%)	0.3%	$57.82	$65.83	-12.2%	CL A	609207105
PG	PROCTER & GAMBLE CO	8,385 (-3.5%)	$1.218M (-4.3%)	0.8%	$145.28	$85.60	+69.7%	COM	742718109
ABT	ABBOTT LABORATORIES	4,750 (-9.5%)	$469K (-1.5%)	0.3%	$98.83	$39.55	+149.9%	COM	002824100

Unchanged Positions (28)

CAT CATERPILLAR INC 2.5%

Value $3.892M Shares 4,800 Share Price $810.79 Est. Cost/Share $215.02 Unrealized @ Report Date +277.1%

BX BLACKSTONE INC 9.7%

Value $15.18M Shares 135,460 Share Price $112.09 Est. Cost/Share $140.81 Unrealized @ Report Date -20.4%

GE GE AEROSPACE 2.2%

Value $3.486M Shares 11,160 Share Price $312.32 Est. Cost/Share $122.48 Unrealized @ Report Date +155.0%

GEV GE VERNOVA INC 1.6%

Value $2.531M Shares 2,663 Share Price $950.32 Est. Cost/Share $311.89 Unrealized @ Report Date +204.8%

INTC INTEL CORP 2.1%

Value $3.243M Shares 26,975 Share Price $120.23 Est. Cost/Share $29.44 Unrealized @ Report Date +308.4%

ADM ARCHER DANIELS MIDLAND CO 3.4%

Value $5.363M Shares 8,750 Share Price $612.90 * Est. Cost/Share $50.71 Unrealized @ Report Date +56.5%

CSCO CISCO SYS INC 1.2%

Value $1.899M Shares 17,645 Share Price $107.63 Est. Cost/Share $31.74 Unrealized @ Report Date +239.1%

AXP AMERICAN EXPRESS CO 0.9%

Value $1.366M Shares 4,492 Share Price $304.10 Est. Cost/Share $316.55 Unrealized @ Report Date -3.9%

T AT&T INC 0.4%

Value $666K Shares 27,290 Share Price $24.40 Est. Cost/Share $15.40 Unrealized @ Report Date +58.5%

ABBV ABBVIE INC 2.1%

Value $3.218M Shares 12,302 Share Price $261.59 Est. Cost/Share $57.12 Unrealized @ Report Date +358.0%

IBM INTERNATIONAL BUSINESS MACHS 0.2%

Value $319K Shares 1,450 Share Price $219.93 Est. Cost/Share $155.54 Unrealized @ Report Date +41.4%

GILD GILEAD SCIENCES INC 0.4%

Value $559K Shares 3,750 Share Price $149.05 Est. Cost/Share $60.05 Unrealized @ Report Date +148.2%

ITW ILLINOIS TOOL WKS INC 1.0%

Value $1.492M Shares 5,800 Share Price $257.28 Est. Cost/Share $161.42 Unrealized @ Report Date +59.4%

KKR KKR & CO INC 1.1%

Value $1.695M Shares 16,145 Share Price $105.02 * Est. Cost/Share $52.12 Unrealized @ Report Date +75.2%

DE DEERE & CO 0.7%

Value $1.073M Shares 1,598 Share Price $671.55 Est. Cost/Share $359.27 Unrealized @ Report Date +86.9%

CSX CSX CORP 1.5%

Value $2.292M Shares 49,290 Share Price $46.51 Est. Cost/Share $30.25 Unrealized @ Report Date +53.8%

CMCSA COMCAST CORP NEW 0.2%

Value $348K Shares 16,000 Share Price $21.76 Est. Cost/Share $30.61 Unrealized @ Report Date -28.9%

PFE PFIZER INC 0.2%

Value $269K Shares 9,417 Share Price $28.52 Est. Cost/Share $23.72 Unrealized @ Report Date +20.3%

EMR EMERSON ELEC CO 0.3%

Value $525K Shares 3,386 Share Price $155.11 Est. Cost/Share $73.37 Unrealized @ Report Date +111.4%

UPS UNITED PARCEL SVCS INC 0.2%

Value $257K Shares 2,747 Share Price $93.44 Est. Cost/Share $106.50 Unrealized @ Report Date -12.3%

BMY BRISTOL-MYERS SQUIBB CO 0.3%

Value $456K Shares 7,300 Share Price $62.40 Est. Cost/Share $39.62 Unrealized @ Report Date +57.5%

PJT PJT PARTNERS INC 0.4%

Value $609K Shares 4,270 Share Price $142.72 Est. Cost/Share $179.55 Unrealized @ Report Date -20.5%

DUK DUKE ENERGY CORP NEW 0.2%

Value $278K Shares 2,439 Share Price $114.01 Est. Cost/Share $124.65 Unrealized @ Report Date -8.5%

PEP PEPSICO INC 0.3%

Value $425K Shares 3,350 Share Price $126.72 Est. Cost/Share $129.14 Unrealized @ Report Date -1.9%

RTX RTX CORPORATION 0.4%

Value $652K Shares 3,510 Share Price $185.65 Est. Cost/Share $192.39 Unrealized @ Report Date -3.5%

NOC NORTHROP GRUMMAN CORP 0.2%

Value $266K Shares 550 Share Price $483.48 Est. Cost/Share $691.31 Unrealized @ Report Date -30.1%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.9%

Value $1.438M Shares 2,888 Share Price $497.95 Est. Cost/Share $278.47 Unrealized @ Report Date +78.8%

NSC NORFOLK SOUTHN CORP 0.2%

Value $371K Shares 1,200 Share Price $309.00 Est. Cost/Share $276.03 Unrealized @ Report Date +11.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CAT	CATERPILLAR INC	4,800	$3.892M	2.5%	$810.79	$215.02	+277.1%	COM	149123101
BX	BLACKSTONE INC	135,460	$15.18M	9.7%	$112.09	$140.81	-20.4%	COM	09260D107
GE	GE AEROSPACE	11,160	$3.486M	2.2%	$312.32	$122.48	+155.0%	COM NEW	369604301
GEV	GE VERNOVA INC	2,663	$2.531M	1.6%	$950.32	$311.89	+204.8%	COM	36828A101
INTC	INTEL CORP	26,975	$3.243M	2.1%	$120.23	$29.44	+308.4%	COM	458140100
ADM	ARCHER DANIELS MIDLAND CO	8,750	$5.363M	3.4%	$612.90 *	$50.71	+56.5%	COM	039483102
CSCO	CISCO SYS INC	17,645	$1.899M	1.2%	$107.63	$31.74	+239.1%	COM	17275R102
AXP	AMERICAN EXPRESS CO	4,492	$1.366M	0.9%	$304.10	$316.55	-3.9%	COM	025816109
T	AT&T INC	27,290	$666K	0.4%	$24.40	$15.40	+58.5%	COM	00206R102
ABBV	ABBVIE INC	12,302	$3.218M	2.1%	$261.59	$57.12	+358.0%	COM	00287Y109
IBM	INTERNATIONAL BUSINESS MACHS	1,450	$319K	0.2%	$219.93	$155.54	+41.4%	COM	459200101
GILD	GILEAD SCIENCES INC	3,750	$559K	0.4%	$149.05	$60.05	+148.2%	COM	375558103
ITW	ILLINOIS TOOL WKS INC	5,800	$1.492M	1.0%	$257.28	$161.42	+59.4%	COM	452308109
KKR	KKR & CO INC	16,145	$1.695M	1.1%	$105.02 *	$52.12	+75.2%	COM	48251W104
DE	DEERE & CO	1,598	$1.073M	0.7%	$671.55	$359.27	+86.9%	COM	244199105
CSX	CSX CORP	49,290	$2.292M	1.5%	$46.51	$30.25	+53.8%	COM	126408103
CMCSA	COMCAST CORP NEW	16,000	$348K	0.2%	$21.76	$30.61	-28.9%	CL A	20030N101
PFE	PFIZER INC	9,417	$269K	0.2%	$28.52	$23.72	+20.3%	COM	717081103
EMR	EMERSON ELEC CO	3,386	$525K	0.3%	$155.11	$73.37	+111.4%	COM	291011104
UPS	UNITED PARCEL SVCS INC	2,747	$257K	0.2%	$93.44	$106.50	-12.3%	CL B	911312106
BMY	BRISTOL-MYERS SQUIBB CO	7,300	$456K	0.3%	$62.40	$39.62	+57.5%	COM	110122108
PJT	PJT PARTNERS INC	4,270	$609K	0.4%	$142.72	$179.55	-20.5%	COM CL A	69343T107
DUK	DUKE ENERGY CORP NEW	2,439	$278K	0.2%	$114.01	$124.65	-8.5%	COM NEW	26441C204
PEP	PEPSICO INC	3,350	$425K	0.3%	$126.72	$129.14	-1.9%	COM	713448108
RTX	RTX CORPORATION	3,510	$652K	0.4%	$185.65	$192.39	-3.5%	COM	75513E101
NOC	NORTHROP GRUMMAN CORP	550	$266K	0.2%	$483.48	$691.31	-30.1%	COM	666807102
BRK/B	BERKSHIRE HATHAWAY INC DEL	2,888	$1.438M	0.9%	$497.95	$278.47	+78.8%	CL B NEW	084670702
NSC	NORFOLK SOUTHN CORP	1,200	$371K	0.2%	$309.00	$276.03	+11.9%	COM	655844108