BONNESS ENTERPRISES INC Long-Term Concentrated

Period: Q4 2025 (← Previous)

Filing Date: Jan 14, 2026

Total Value ($000): $289,737 (100.0% shares, 0.0% debt)

Holdings (38)

New Positions (1)

Value ($000) $241 Shares 15,208 Est. Cost $15.68 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MICC	MAGNUM ICE CREAM CO NV	15,208	$241	0.1%	$15.68	0.0%	ORD SHS	N5505D105

Increased Positions (2)

UPS UNITED PARCEL SERVICE INC 0.8%

Value ($000) $2,296 (+30.0%) Shares 23,150 (+9.5%) Est. Cost $76.38 Unrealized +21.4%

VZ VERIZON COMMUNICATIONS INC 0.7%

Value ($000) $2,054 (-5.5%) Shares 50,431 (+2.0%) Est. Cost $30.05 Unrealized +34.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UPS	UNITED PARCEL SERVICE INC	23,150 (+9.5%)	$2,296 (+30.0%)	0.8%	$76.38	+21.4%	CL B	911312106
VZ	VERIZON COMMUNICATIONS INC	50,431 (+2.0%)	$2,054 (-5.5%)	0.7%	$30.05	+34.7%	COM	92343V104

Exited Positions (1)

— UNILEVER PLC 1.6%

Value ($000) $4,508 Shares 76,040 Est. Cost $41.89 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNILEVER PLC	76,040	$4,508	1.6%	$41.89	—	—	904767704

Decreased Positions (6)

MSFT MICROSOFT CORP 6.4%

Value ($000) $18,639 (-11.4%) Shares 38,540 (-5.1%) Est. Cost $26.78 Unrealized +1769.1%

ORCL ORACLE CORP 0.2%

Value ($000) $542 (-80.1%) Shares 2,780 (-71.2%) Est. Cost $36.49 Unrealized +552.3%

SYK STRYKER CORPORATION 7.8%

Value ($000) $22,473 (-7.2%) Shares 63,939 (-2.4%) Est. Cost $56.92 Unrealized +538.6%

AMAT APPLIED MATLS INC 2.2%

Value ($000) $6,367 (+15.9%) Shares 24,776 (-7.7%) Est. Cost $13.39 Unrealized +1689.2%

AAPL APPLE INC 4.6%

Value ($000) $13,340 (-3.8%) Shares 49,070 (-9.9%) Est. Cost $83.94 Unrealized +219.7%

TMO THERMO FISHER SCIENTIFIC INC 1.8%

Value ($000) $5,143 (-3.0%) Shares 8,875 (-18.8%) Est. Cost $79.76 Unrealized +608.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	38,540 (-5.1%)	$18,639 (-11.4%)	6.4%	$26.78	+1769.1%	COM	594918104
ORCL	ORACLE CORP	2,780 (-71.2%)	$542 (-80.1%)	0.2%	$36.49	+552.3%	COM	68389X105
SYK	STRYKER CORPORATION	63,939 (-2.4%)	$22,473 (-7.2%)	7.8%	$56.92	+538.6%	COM	863667101
AMAT	APPLIED MATLS INC	24,776 (-7.7%)	$6,367 (+15.9%)	2.2%	$13.39	+1689.2%	COM	038222105
AAPL	APPLE INC	49,070 (-9.9%)	$13,340 (-3.8%)	4.6%	$83.94	+219.7%	COM	037833100
TMO	THERMO FISHER SCIENTIFIC INC	8,875 (-18.8%)	$5,143 (-3.0%)	1.8%	$79.76	+608.6%	COM	883556102

Unchanged Positions (29)

PGR PROGRESSIVE CORP 40.3%

Value ($000) $116,697 Shares 512,457 Est. Cost $20.79 Unrealized +921.4%

MRK MERCK & CO INC 2.5%

Value ($000) $7,316 Shares 69,500 Est. Cost $40.53 Unrealized +130.1%

JNJ JOHNSON & JOHNSON 2.8%

Value ($000) $7,996 Shares 38,638 Est. Cost $59.66 Unrealized +230.2%

CSCO CISCO SYS INC 2.6%

Value ($000) $7,403 Shares 96,100 Est. Cost $20.03 Unrealized +268.4%

NUE NUCOR CORP 1.5%

Value ($000) $4,442 Shares 27,235 Est. Cost $33.44 Unrealized +347.9%

BMY BRISTOL-MYERS SQUIBB CO 1.0%

Value ($000) $2,929 Shares 54,300 Est. Cost $29.30 Unrealized +62.2%

GLW CORNING INC 2.6%

Value ($000) $7,556 Shares 86,300 Est. Cost $19.23 Unrealized +347.2%

IBM INTERNATIONAL BUSINESS MACHS 3.0%

Value ($000) $8,757 Shares 29,564 Est. Cost $106.49 Unrealized +180.6%

MRSH MARSH & MCLENNAN COS INC 1.6%

Value ($000) $4,694 Shares 25,300 Est. Cost $31.19 Unrealized +497.8%

INTC INTEL CORP 1.2%

Value ($000) $3,611 Shares 97,850 Est. Cost $22.85 Unrealized +65.2%

T AT&T INC 0.8%

Value ($000) $2,216 Shares 89,200 Est. Cost $17.03 Unrealized +48.5%

ABT ABBOTT LABS 1.4%

Value ($000) $4,097 Shares 32,700 Est. Cost $29.01 Unrealized +338.8%

HPQ HP INC 0.4%

Value ($000) $1,272 Shares 57,100 Est. Cost $9.12 Unrealized +176.8%

GSK GSK PLC 0.7%

Value ($000) $2,034 Shares 41,480 Est. Cost $29.44 Unrealized —

PG PROCTER AND GAMBLE CO 0.8%

Value ($000) $2,350 Shares 16,400 Est. Cost $55.64 Unrealized +164.5%

ING ING GROEP N.V. 0.8%

Value ($000) $2,296 Shares 82,000 Est. Cost $9.09 Unrealized —

A AGILENT TECHNOLOGIES INC 0.8%

Value ($000) $2,436 Shares 17,900 Est. Cost $28.37 Unrealized +406.5%

ABBV ABBVIE INC 2.9%

Value ($000) $8,431 Shares 36,900 Est. Cost $27.59 Unrealized +724.7%

XOM EXXON MOBIL CORP 0.6%

Value ($000) $1,707 Shares 14,185 Est. Cost $53.69 Unrealized +115.1%

KO COCA COLA CO 0.7%

Value ($000) $1,964 Shares 28,100 Est. Cost $27.88 Unrealized +148.9%

PFE PFIZER INC 1.4%

Value ($000) $4,022 Shares 161,508 Est. Cost $22.90 Unrealized +9.3%

EMR EMERSON ELEC CO 2.0%

Value ($000) $5,707 Shares 43,000 Est. Cost $40.11 Unrealized +230.0%

GEN GEN DIGITAL INC 0.5%

Value ($000) $1,400 Shares 51,500 Est. Cost $12.38 Unrealized +116.9%

HPE HEWLETT PACKARD ENTERPRISE C 0.5%

Value ($000) $1,372 Shares 57,100 Est. Cost $6.50 Unrealized +260.7%

NTRS NORTHERN TR CORP 0.6%

Value ($000) $1,735 Shares 12,700 Est. Cost $40.35 Unrealized +224.0%

GEV GE VERNOVA INC 0.1%

Value ($000) $405 Shares 620 Est. Cost $415.97 Unrealized +46.4%

GE GE AEROSPACE 0.3%

Value ($000) $765 Shares 2,484 Est. Cost $47.56 Unrealized +532.4%

PHG KONINKLIJKE PHILIPS N V 0.8%

Value ($000) $2,355 Shares 86,961 Est. Cost $21.46 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.2%

Value ($000) $679 Shares 1,350 Est. Cost $217.17 Unrealized +129.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PGR	PROGRESSIVE CORP	512,457	$116,697	40.3%	$20.79	+921.4%	COM	743315103
MRK	MERCK & CO INC	69,500	$7,316	2.5%	$40.53	+130.1%	COM	58933Y105
JNJ	JOHNSON & JOHNSON	38,638	$7,996	2.8%	$59.66	+230.2%	COM	478160104
CSCO	CISCO SYS INC	96,100	$7,403	2.6%	$20.03	+268.4%	COM	17275R102
NUE	NUCOR CORP	27,235	$4,442	1.5%	$33.44	+347.9%	COM	670346105
BMY	BRISTOL-MYERS SQUIBB CO	54,300	$2,929	1.0%	$29.30	+62.2%	COM	110122108
GLW	CORNING INC	86,300	$7,556	2.6%	$19.23	+347.2%	COM	219350105
IBM	INTERNATIONAL BUSINESS MACHS	29,564	$8,757	3.0%	$106.49	+180.6%	COM	459200101
MRSH	MARSH & MCLENNAN COS INC	25,300	$4,694	1.6%	$31.19	+497.8%	COM	571748102
INTC	INTEL CORP	97,850	$3,611	1.2%	$22.85	+65.2%	COM	458140100
T	AT&T INC	89,200	$2,216	0.8%	$17.03	+48.5%	COM	00206R102
ABT	ABBOTT LABS	32,700	$4,097	1.4%	$29.01	+338.8%	COM	002824100
HPQ	HP INC	57,100	$1,272	0.4%	$9.12	+176.8%	COM	40434L105
GSK	GSK PLC	41,480	$2,034	0.7%	$29.44	—	SPONSORED ADR	37733W204
PG	PROCTER AND GAMBLE CO	16,400	$2,350	0.8%	$55.64	+164.5%	COM	742718109
ING	ING GROEP N.V.	82,000	$2,296	0.8%	$9.09	—	SPONSORED ADR	456837103
A	AGILENT TECHNOLOGIES INC	17,900	$2,436	0.8%	$28.37	+406.5%	COM	00846U101
ABBV	ABBVIE INC	36,900	$8,431	2.9%	$27.59	+724.7%	COM	00287Y109
XOM	EXXON MOBIL CORP	14,185	$1,707	0.6%	$53.69	+115.1%	COM	30231G102
KO	COCA COLA CO	28,100	$1,964	0.7%	$27.88	+148.9%	COM	191216100
PFE	PFIZER INC	161,508	$4,022	1.4%	$22.90	+9.3%	COM	717081103
EMR	EMERSON ELEC CO	43,000	$5,707	2.0%	$40.11	+230.0%	COM	291011104
GEN	GEN DIGITAL INC	51,500	$1,400	0.5%	$12.38	+116.9%	COM	668771108
HPE	HEWLETT PACKARD ENTERPRISE C	57,100	$1,372	0.5%	$6.50	+260.7%	COM	42824C109
NTRS	NORTHERN TR CORP	12,700	$1,735	0.6%	$40.35	+224.0%	COM	665859104
GEV	GE VERNOVA INC	620	$405	0.1%	$415.97	+46.4%	COM	36828A101
GE	GE AEROSPACE	2,484	$765	0.3%	$47.56	+532.4%	COM NEW	369604301
PHG	KONINKLIJKE PHILIPS N V	86,961	$2,355	0.8%	$21.46	—	NY REGIS SHS NEW	500472303
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,350	$679	0.2%	$217.17	+129.1%	CL B NEW	084670702