Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
LHX	L3HARRIS TECHNOLOGIES INC	53,348	$15.5M	0.2%	$290.59	$290.59	—	COM	502431109
VGT	VANGUARD WORLD FD	68,882	$8.233M	0.1%	$119.52	$119.52	—	INF TECH ETF	92204A702
IWM	ISHARES TR	17,573	$5.28M	0.1%	$300.45	$300.45	—	RUSSELL 2000 ETF	464287655
INTC	INTEL CORP	15,600	$2.178M	0.0%	$139.63	$139.63	—	COM	458140100
CF	CF INDUSTRIES HOLD	16,000	$1.732M	0.0%	$108.26	$108.26	—	COM	125269100
O	REALTY INCOME CORP	27,000	$1.673M	0.0%	$61.96	$61.96	—	COM	756109104
GEHC	GE HEALTHCARE TECHNOLOGIES I	14,200	$909K	0.0%	$64.01	$64.01	—	COMMON STOCK	36266G107
BXP	BXP INC	12,159	$806K	0.0%	$66.31	$66.31	—	COM	101121101
KRC	KILROY REALTY CORP	13,553	$508K	0.0%	$37.47	$37.47	—	COM	49427F108
NU	NU HLDGS LTD	35,800	$478K	0.0%	$13.36	$13.36	—	ORD SHS CL A	G6683N103

Increased Positions (28)

TSM TAIWAN SEMICONDUCTOR MANUFAC 3.0%

Value $253M (+279.6%) Shares 529,518 (+168.6%) Share Price $477.57 Est. Cost/Share $425.60 Unrealized @ Report Date —

C CITIGROUP INC 3.0%

Value $260M (+249.9%) Shares 1,856,723 (+183.5%) Share Price $139.96 Est. Cost/Share $131.57 Unrealized @ Report Date —

GOOGL ALPHABET INC 7.5%

Value $636M (+28.3%) Shares 1,780,093 (+3.2%) Share Price $357.37 Est. Cost/Share $128.69 Unrealized @ Report Date —

AVGO BROADCOM INC 5.1%

Value $435M (+31.4%) Shares 1,151,150 (+7.7%) Share Price $377.75 Est. Cost/Share $230.10 Unrealized @ Report Date —

ISRG INTUITIVE SURGICAL INC 1.1%

Value $97.2M (+96.8%) Shares 244,426 (+128.2%) Share Price $397.68 Est. Cost/Share $451.71 Unrealized @ Report Date —

NFLX NETFLIX INC. 2.3%

Value $195M (-18.0%) Shares 2,736,198 (+10.5%) Share Price $71.40 Est. Cost/Share $103.41 Unrealized @ Report Date —

HD HOME DEPOT INC 2.8%

Value $242M (+11.5%) Shares 687,219 (+4.0%) Share Price $352.68 Est. Cost/Share $316.38 Unrealized @ Report Date —

EMR EMERSON ELEC CO 2.8%

Value $239M (+10.5%) Shares 1,670,751 (+1.2%) Share Price $143.15 Est. Cost/Share $114.80 Unrealized @ Report Date —

DUK DUKE ENERGY CORP NEW 1.9%

Value $162M (+11.5%) Shares 1,283,213 (+15.3%) Share Price $126.58 Est. Cost/Share $121.64 Unrealized @ Report Date —

CME CME GROUP INC 3.4%

Value $290M (+5.6%) Shares 1,314,268 (+41.2%) Share Price $220.83 Est. Cost/Share $174.82 Unrealized @ Report Date —

ECL ECOLAB INC 1.1%

Value $95.76M (+17.6%) Shares 343,707 (+12.2%) Share Price $278.61 Est. Cost/Share $267.29 Unrealized @ Report Date —

TMO THERMO FISHER SCIENTIFIC INC 1.6%

Value $134M (+8.9%) Shares 266,872 (+6.8%) Share Price $501.36 Est. Cost/Share $534.23 Unrealized @ Report Date —

VT VANGUARD INTL EQUITY INDEX F 0.2%

Value $13.86M (+86.2%) Shares 88,310 (+64.1%) Share Price $156.95 Est. Cost/Share $141.26 Unrealized @ Report Date —

UBER UBER TECHNOLOGIES INC 1.7%

Value $147M (+4.3%) Shares 2,041,558 (+3.9%) Share Price $72.16 Est. Cost/Share $91.79 Unrealized @ Report Date —

VPL VANGUARD INTL EQUITY INDEX F 0.1%

Value $9.589M (+110.8%) Shares 82,887 (+78.1%) Share Price $115.69 Est. Cost/Share $105.61 Unrealized @ Report Date —

EWJ ISHARES INC 0.1%

Value $8.605M (+19.2%) Shares 92,257 (+8.0%) Share Price $93.27 Est. Cost/Share $85.09 Unrealized @ Report Date —

ELF E L F BEAUTY INC 0.1%

Value $4.48M (+34.9%) Shares 60,544 (+10.5%) Share Price $74.00 Est. Cost/Share $98.60 Unrealized @ Report Date —

ZTS ZOETIS INC 0.0%

Value $1.622M (-35.8%) Shares 22,570 (+5.6%) Share Price $71.86 Est. Cost/Share $159.05 Unrealized @ Report Date —

ABNB AIRBNB INC 0.0%

Value $2.24M (+64.9%) Shares 15,655 (+45.5%) Share Price $143.10 Est. Cost/Share $137.19 Unrealized @ Report Date —

COST COSTCO WHOLESALE CORPORATION 2.3%

Value $200M (+0.3%) Shares 214,194 (+6.9%) Share Price $935.47 Est. Cost/Share $411.24 Unrealized @ Report Date —

BND VANGUARD BD INDEX FDS 0.1%

Value $4.483M (+15.9%) Shares 61,062 (+16.3%) Share Price $73.41 Est. Cost/Share $73.49 Unrealized @ Report Date —

V VISA INC 0.0%

Value $3.958M (+18.3%) Shares 11,536 (+4.2%) Share Price $343.09 Est. Cost/Share $329.74 Unrealized @ Report Date —

TTEK TETRA TECH INC NEW 0.2%

Value $13.66M (+4.0%) Shares 472,902 (+8.4%) Share Price $28.89 Est. Cost/Share $33.37 Unrealized @ Report Date —

VLTO VERALTO CORP 0.0%

Value $1.295M (+36.8%) Shares 14,600 (+36.4%) Share Price $88.68 Est. Cost/Share $95.14 Unrealized @ Report Date —

SCHW SCHWAB CHARLES CORP 0.0%

Value $2.021M (+19.5%) Shares 21,900 (+21.7%) Share Price $92.27 Est. Cost/Share $98.72 Unrealized @ Report Date —

FRPT FRESHPET INC 0.0%

Value $1.685M (+6.4%) Shares 28,500 (+6.1%) Share Price $59.12 Est. Cost/Share $86.38 Unrealized @ Report Date —

WY WEYERHAEUSER CO 0.1%

Value $5.865M (-0.3%) Shares 244,975 (+1.7%) Share Price $23.94 Est. Cost/Share $28.51 Unrealized @ Report Date —

MELI MERCADOLIBRE INC 1.4%

Value $121M (-0.0%) Shares 71,555 (+1.9%) Share Price $1697.39 Est. Cost/Share $1773.99 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	529,518 (+168.6%)	$253M (+279.6%)	3.0%	$477.57	$425.60	—	SPONSORED ADS	874039100
C	CITIGROUP INC	1,856,723 (+183.5%)	$260M (+249.9%)	3.0%	$139.96	$131.57	—	COM NEW	172967424
GOOGL	ALPHABET INC	1,780,093 (+3.2%)	$636M (+28.3%)	7.5%	$357.37	$128.69	—	CAP STK CL A	02079K305
AVGO	BROADCOM INC	1,151,150 (+7.7%)	$435M (+31.4%)	5.1%	$377.75	$230.10	—	COM	11135F101
ISRG	INTUITIVE SURGICAL INC	244,426 (+128.2%)	$97.2M (+96.8%)	1.1%	$397.68	$451.71	—	COM NEW	46120E602
NFLX	NETFLIX INC.	2,736,198 (+10.5%)	$195M (-18.0%)	2.3%	$71.40	$103.41	—	COM	64110L106
HD	HOME DEPOT INC	687,219 (+4.0%)	$242M (+11.5%)	2.8%	$352.68	$316.38	—	COM	437076102
EMR	EMERSON ELEC CO	1,670,751 (+1.2%)	$239M (+10.5%)	2.8%	$143.15	$114.80	—	COM	291011104
DUK	DUKE ENERGY CORP NEW	1,283,213 (+15.3%)	$162M (+11.5%)	1.9%	$126.58	$121.64	—	COM NEW	26441C204
CME	CME GROUP INC	1,314,268 (+41.2%)	$290M (+5.6%)	3.4%	$220.83	$174.82	—	COM	12572Q105
ECL	ECOLAB INC	343,707 (+12.2%)	$95.76M (+17.6%)	1.1%	$278.61	$267.29	—	COM	278865100
TMO	THERMO FISHER SCIENTIFIC INC	266,872 (+6.8%)	$134M (+8.9%)	1.6%	$501.36	$534.23	—	COM	883556102
VT	VANGUARD INTL EQUITY INDEX F	88,310 (+64.1%)	$13.86M (+86.2%)	0.2%	$156.95	$141.26	—	TT WRLD ST ETF	922042742
UBER	UBER TECHNOLOGIES INC	2,041,558 (+3.9%)	$147M (+4.3%)	1.7%	$72.16	$91.79	—	COM	90353T100
VPL	VANGUARD INTL EQUITY INDEX F	82,887 (+78.1%)	$9.589M (+110.8%)	0.1%	$115.69	$105.61	—	FTSE PACIFIC ETF	922042866
EWJ	ISHARES INC	92,257 (+8.0%)	$8.605M (+19.2%)	0.1%	$93.27	$85.09	—	MSCI JAPAN ETF	46434G822
ELF	E L F BEAUTY INC	60,544 (+10.5%)	$4.48M (+34.9%)	0.1%	$74.00	$98.60	—	COM	26856L103
ZTS	ZOETIS INC	22,570 (+5.6%)	$1.622M (-35.8%)	0.0%	$71.86	$159.05	—	CL A	98978V103
ABNB	AIRBNB INC	15,655 (+45.5%)	$2.24M (+64.9%)	0.0%	$143.10	$137.19	—	COM CL A	009066101
COST	COSTCO WHOLESALE CORPORATION	214,194 (+6.9%)	$200M (+0.3%)	2.3%	$935.47	$411.24	—	COM	22160K105
BND	VANGUARD BD INDEX FDS	61,062 (+16.3%)	$4.483M (+15.9%)	0.1%	$73.41	$73.49	—	TOTAL BND MRKT	921937835
V	VISA INC	11,536 (+4.2%)	$3.958M (+18.3%)	0.0%	$343.09	$329.74	—	COM CL A	92826C839
TTEK	TETRA TECH INC NEW	472,902 (+8.4%)	$13.66M (+4.0%)	0.2%	$28.89	$33.37	—	COM	88162G103
VLTO	VERALTO CORP	14,600 (+36.4%)	$1.295M (+36.8%)	0.0%	$88.68	$95.14	—	COM SHS	92338C103
SCHW	SCHWAB CHARLES CORP	21,900 (+21.7%)	$2.021M (+19.5%)	0.0%	$92.27	$98.72	—	COM	808513105
FRPT	FRESHPET INC	28,500 (+6.1%)	$1.685M (+6.4%)	0.0%	$59.12	$86.38	—	COM	358039105
WY	WEYERHAEUSER CO	244,975 (+1.7%)	$5.865M (-0.3%)	0.1%	$23.94	$28.51	—	COM NEW	962166104
MELI	MERCADOLIBRE INC	71,555 (+1.9%)	$121M (-0.0%)	1.4%	$1697.39	$1773.99	—	COM	58733R102

Exited Positions (4)

SPG SIMON PPTY GROUP INC NEW 0.0%

Value $1.868M Shares 10,014 Share Price $186.53 Est. Cost/Share $152.73 Unrealized @ Report Date —

KR KROGER CO 0.0%

Value $1.614M Shares 22,300 Share Price $72.36 Est. Cost/Share $64.60 Unrealized @ Report Date —

FMX FOMENTO ECONOMICO MEXICANO S 0.0%

Value $1.444M Shares 13,000 Share Price $111.06 Est. Cost/Share $85.73 Unrealized @ Report Date —

TROW PRICE T ROWE GROUP INC 0.0%

Value $1.307M Shares 14,500 Share Price $90.14 Est. Cost/Share $101.21 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPG	SIMON PPTY GROUP INC NEW	10,014	$1.868M	0.0%	$186.53	$152.73	—	—	828806109
KR	KROGER CO	22,300	$1.614M	0.0%	$72.36	$64.60	—	—	501044101
FMX	FOMENTO ECONOMICO MEXICANO S	13,000	$1.444M	0.0%	$111.06	$85.73	—	—	344419106
TROW	PRICE T ROWE GROUP INC	14,500	$1.307M	0.0%	$90.14	$101.21	—	—	74144T108

Decreased Positions (44)

FTNT FORTINET INC 0.1%

Value $7.819M (-93.7%) Shares 50,901 (-96.6%) Share Price $153.62 Est. Cost/Share $77.12 Unrealized @ Report Date —

AMGN AMGEN INC 1.5%

Value $125M (-46.9%) Shares 343,948 (-48.4%) Share Price $362.12 Est. Cost/Share $184.23 Unrealized @ Report Date —

JPM JPMORGAN CHASE & CO 2.3%

Value $197M (-26.2%) Shares 602,262 (-33.7%) Share Price $327.33 Est. Cost/Share $169.78 Unrealized @ Report Date —

MCO MOODYS CORP 0.8%

Value $66.03M (-47.4%) Shares 145,786 (-49.3%) Share Price $452.92 Est. Cost/Share $322.02 Unrealized @ Report Date —

KMB KIMBERLY-CLARK CORP 0.9%

Value $76.8M (-41.8%) Shares 699,689 (-48.9%) Share Price $109.77 Est. Cost/Share $128.23 Unrealized @ Report Date —

NVDA NVIDIA CORPORATION 9.9%

Value $848M (+6.9%) Shares 4,235,829 (-6.8%) Share Price $200.09 Est. Cost/Share $110.72 Unrealized @ Report Date —

AMZN AMAZON COM INC 5.4%

Value $457M (+13.3%) Shares 1,918,208 (-1.0%) Share Price $238.34 Est. Cost/Share $119.74 Unrealized @ Report Date —

MRSH MARSH & MCLENNAN COS INC 0.3%

Value $26.98M (-62.3%) Shares 161,885 (-60.8%) Share Price $166.67 Est. Cost/Share $215.59 Unrealized @ Report Date —

CL COLGATE PALMOLIVE CO 2.0%

Value $170M (-20.0%) Shares 1,858,052 (-25.6%) Share Price $91.68 Est. Cost/Share $72.33 Unrealized @ Report Date —

OTIS OTIS WORLDWIDE CORP 0.0%

Value $2.14M (-94.9%) Shares 29,891 (-94.5%) Share Price $71.60 Est. Cost/Share $70.70 Unrealized @ Report Date —

AME AMETEK INC 0.3%

Value $22.45M (-48.1%) Shares 92,782 (-54.0%) Share Price $241.94 Est. Cost/Share $221.70 Unrealized @ Report Date —

LLY ELI LILLY & CO 1.6%

Value $133M (+18.3%) Shares 110,831 (-9.3%) Share Price $1199.43 Est. Cost/Share $629.60 Unrealized @ Report Date —

PFE PFIZER INC 0.2%

Value $20.35M (-46.5%) Shares 845,257 (-37.7%) Share Price $24.08 Est. Cost/Share $25.55 Unrealized @ Report Date —

ROST ROSS STORES INC 0.0%

Value $3.679M (-80.1%) Shares 17,285 (-79.7%) Share Price $212.85 Est. Cost/Share $145.12 Unrealized @ Report Date —

MSFT MICROSOFT CORP 6.6%

Value $567M (-2.3%) Shares 1,519,029 (-3.1%) Share Price $373.02 Est. Cost/Share $273.17 Unrealized @ Report Date —

NOW SERVICENOW INC 0.0%

Value $1.656M (-88.0%) Shares 16,685 (-87.4%) Share Price $99.28 Est. Cost/Share $175.15 Unrealized @ Report Date —

CSCO CISCO SYS INC 1.2%

Value $101M (-9.5%) Shares 863,286 (-40.2%) Share Price $117.46 Est. Cost/Share $45.82 Unrealized @ Report Date —

AMT AMERICAN TOWER CORP 1.6%

Value $139M (-6.7%) Shares 849,693 (-1.6%) Share Price $163.57 Est. Cost/Share $189.59 Unrealized @ Report Date —

AOS SMITH A O CORP 0.8%

Value $70.42M (-11.1%) Shares 1,122,769 (-6.5%) Share Price $62.72 Est. Cost/Share $67.05 Unrealized @ Report Date —

META META PLATFORMS INC 2.2%

Value $188M (-4.4%) Shares 334,128 (-2.9%) Share Price $563.29 Est. Cost/Share $321.95 Unrealized @ Report Date —

DE DEERE & CO 1.0%

Value $86.4M (+10.0%) Shares 136,213 (-2.3%) Share Price $634.33 Est. Cost/Share $269.82 Unrealized @ Report Date —

PWR QUANTA SVCS INC 1.4%

Value $119M (+6.6%) Shares 164,775 (-18.7%) Share Price $720.04 Est. Cost/Share $463.91 Unrealized @ Report Date —

TXN TEXAS INSTRS INC 0.4%

Value $33.56M (-16.0%) Shares 112,599 (-45.3%) Share Price $298.07 Est. Cost/Share $176.66 Unrealized @ Report Date —

GLD SPDR GOLD TR 0.2%

Value $14.22M (-18.4%) Shares 38,588 (-4.6%) Share Price $368.38 Est. Cost/Share $288.14 Unrealized @ Report Date —

SNA SNAP ON INC 0.3%

Value $26.1M (+8.6%) Shares 64,873 (-1.9%) Share Price $402.40 Est. Cost/Share $330.68 Unrealized @ Report Date —

MS MORGAN STANLEY 0.1%

Value $6.412M (-19.7%) Shares 30,673 (-36.8%) Share Price $209.04 Est. Cost/Share $130.90 Unrealized @ Report Date —

VWO VANGUARD INTL EQUITY INDEX F 0.2%

Value $14.97M (+9.1%) Shares 250,863 (-1.2%) Share Price $59.69 Est. Cost/Share $51.39 Unrealized @ Report Date —

VDE VANGUARD WORLD FD 0.0%

Value $3.244M (-19.9%) Shares 21,605 (-7.7%) Share Price $150.13 Est. Cost/Share $173.04 Unrealized @ Report Date —

INVH INVITATION HOMES INC 0.0%

Value $1.561M (-27.1%) Shares 51,674 (-40.0%) Share Price $30.21 Est. Cost/Share $29.51 Unrealized @ Report Date —

CMG CHIPOTLE MEXICAN GRILL INC 0.0%

Value $1.768M (-24.3%) Shares 52,000 (-28.7%) Share Price $34.00 Est. Cost/Share $54.79 Unrealized @ Report Date —

GGG GRACO INC 0.0%

Value $1.237M (-26.7%) Shares 16,365 (-17.9%) Share Price $75.61 Est. Cost/Share $85.05 Unrealized @ Report Date —

VTR VENTAS INC 0.0%

Value $1.787M (-19.0%) Shares 20,123 (-25.4%) Share Price $88.80 Est. Cost/Share $62.51 Unrealized @ Report Date —

KIM KIMCO REALTY CORP 0.0%

Value $398K (-47.0%) Shares 15,714 (-53.0%) Share Price $25.35 Est. Cost/Share $20.14 Unrealized @ Report Date —

WELL WELLTOWER INC 0.0%

Value $3.1M (-10.1%) Shares 13,657 (-21.7%) Share Price $226.97 Est. Cost/Share $140.72 Unrealized @ Report Date —

NEM NEWMONT CORP 0.0%

Value $1.56M (-16.7%) Shares 16,700 (-3.5%) Share Price $93.40 Est. Cost/Share $118.12 Unrealized @ Report Date —

DOC HEALTHPEAK PROPERTIES INC 0.0%

Value $1.759M (-14.6%) Shares 82,206 (-34.4%) Share Price $21.40 Est. Cost/Share $22.91 Unrealized @ Report Date —

MDLZ MONDELEZ INTL INC 0.0%

Value $810K (-25.9%) Shares 14,000 (-26.1%) Share Price $57.84 Est. Cost/Share $62.28 Unrealized @ Report Date —

CPRT COPART INC 0.0%

Value $978K (-21.4%) Shares 34,700 (-7.5%) Share Price $28.19 Est. Cost/Share $52.11 Unrealized @ Report Date —

ARMK ARAMARK 0.0%

Value $2.276M (-8.0%) Shares 40,000 (-34.4%) Share Price $56.90 Est. Cost/Share $25.52 Unrealized @ Report Date —

EWU ISHARES TR 0.0%

Value $4.012M (-4.0%) Shares 86,957 (-5.2%) Share Price $46.14 Est. Cost/Share $45.56 Unrealized @ Report Date —

MRK MERCK & CO INC 1.1%

Value $94.66M (+0.2%) Shares 736,662 (-6.2%) Share Price $128.50 Est. Cost/Share $74.50 Unrealized @ Report Date —

NTAP NETAPP INC 0.3%

Value $23.67M (+0.6%) Shares 152,975 (-33.5%) Share Price $154.76 Est. Cost/Share $113.45 Unrealized @ Report Date —

EQR EQUITY RESIDENTIAL 0.0%

Value $1.394M (-6.8%) Shares 20,527 (-18.9%) Share Price $67.93 Est. Cost/Share $57.23 Unrealized @ Report Date —

VGK VANGUARD INTL EQUITY INDEX F 0.1%

Value $5.033M (+1.8%) Shares 56,850 (-5.2%) Share Price $88.54 Est. Cost/Share $81.68 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FTNT	FORTINET INC	50,901 (-96.6%)	$7.819M (-93.7%)	0.1%	$153.62	$77.12	—	COM	34959E109
AMGN	AMGEN INC	343,948 (-48.4%)	$125M (-46.9%)	1.5%	$362.12	$184.23	—	COM	031162100
JPM	JPMORGAN CHASE & CO	602,262 (-33.7%)	$197M (-26.2%)	2.3%	$327.33	$169.78	—	COM	46625H100
MCO	MOODYS CORP	145,786 (-49.3%)	$66.03M (-47.4%)	0.8%	$452.92	$322.02	—	COM	615369105
KMB	KIMBERLY-CLARK CORP	699,689 (-48.9%)	$76.8M (-41.8%)	0.9%	$109.77	$128.23	—	COM	494368103
NVDA	NVIDIA CORPORATION	4,235,829 (-6.8%)	$848M (+6.9%)	9.9%	$200.09	$110.72	—	COM	67066G104
AMZN	AMAZON COM INC	1,918,208 (-1.0%)	$457M (+13.3%)	5.4%	$238.34	$119.74	—	COM	023135106
MRSH	MARSH & MCLENNAN COS INC	161,885 (-60.8%)	$26.98M (-62.3%)	0.3%	$166.67	$215.59	—	COM	571748102
CL	COLGATE PALMOLIVE CO	1,858,052 (-25.6%)	$170M (-20.0%)	2.0%	$91.68	$72.33	—	COM	194162103
OTIS	OTIS WORLDWIDE CORP	29,891 (-94.5%)	$2.14M (-94.9%)	0.0%	$71.60	$70.70	—	COM	68902V107
AME	AMETEK INC	92,782 (-54.0%)	$22.45M (-48.1%)	0.3%	$241.94	$221.70	—	COM	031100100
LLY	ELI LILLY & CO	110,831 (-9.3%)	$133M (+18.3%)	1.6%	$1199.43	$629.60	—	COM	532457108
PFE	PFIZER INC	845,257 (-37.7%)	$20.35M (-46.5%)	0.2%	$24.08	$25.55	—	COM	717081103
ROST	ROSS STORES INC	17,285 (-79.7%)	$3.679M (-80.1%)	0.0%	$212.85	$145.12	—	COM	778296103
MSFT	MICROSOFT CORP	1,519,029 (-3.1%)	$567M (-2.3%)	6.6%	$373.02	$273.17	—	COM	594918104
NOW	SERVICENOW INC	16,685 (-87.4%)	$1.656M (-88.0%)	0.0%	$99.28	$175.15	—	COM	81762P102
CSCO	CISCO SYS INC	863,286 (-40.2%)	$101M (-9.5%)	1.2%	$117.46	$45.82	—	COM	17275R102
AMT	AMERICAN TOWER CORP	849,693 (-1.6%)	$139M (-6.7%)	1.6%	$163.57	$189.59	—	COM	03027X100
AOS	SMITH A O CORP	1,122,769 (-6.5%)	$70.42M (-11.1%)	0.8%	$62.72	$67.05	—	COM	831865209
META	META PLATFORMS INC	334,128 (-2.9%)	$188M (-4.4%)	2.2%	$563.29	$321.95	—	CL A	30303M102
DE	DEERE & CO	136,213 (-2.3%)	$86.4M (+10.0%)	1.0%	$634.33	$269.82	—	COM	244199105
PWR	QUANTA SVCS INC	164,775 (-18.7%)	$119M (+6.6%)	1.4%	$720.04	$463.91	—	COM	74762E102
TXN	TEXAS INSTRS INC	112,599 (-45.3%)	$33.56M (-16.0%)	0.4%	$298.07	$176.66	—	COM	882508104
GLD	SPDR GOLD TR	38,588 (-4.6%)	$14.22M (-18.4%)	0.2%	$368.38	$288.14	—	GOLD SHS	78463V107
SNA	SNAP ON INC	64,873 (-1.9%)	$26.1M (+8.6%)	0.3%	$402.40	$330.68	—	COM	833034101
MS	MORGAN STANLEY	30,673 (-36.8%)	$6.412M (-19.7%)	0.1%	$209.04	$130.90	—	COM NEW	617446448
VWO	VANGUARD INTL EQUITY INDEX F	250,863 (-1.2%)	$14.97M (+9.1%)	0.2%	$59.69	$51.39	—	FTSE EMR MKT ETF	922042858
VDE	VANGUARD WORLD FD	21,605 (-7.7%)	$3.244M (-19.9%)	0.0%	$150.13	$173.04	—	ENERGY ETF	92204A306
INVH	INVITATION HOMES INC	51,674 (-40.0%)	$1.561M (-27.1%)	0.0%	$30.21	$29.51	—	COM	46187W107
CMG	CHIPOTLE MEXICAN GRILL INC	52,000 (-28.7%)	$1.768M (-24.3%)	0.0%	$34.00	$54.79	—	COM	169656105
GGG	GRACO INC	16,365 (-17.9%)	$1.237M (-26.7%)	0.0%	$75.61	$85.05	—	COM	384109104
VTR	VENTAS INC	20,123 (-25.4%)	$1.787M (-19.0%)	0.0%	$88.80	$62.51	—	COM	92276F100
KIM	KIMCO REALTY CORP	15,714 (-53.0%)	$398K (-47.0%)	0.0%	$25.35	$20.14	—	COM	49446R109
WELL	WELLTOWER INC	13,657 (-21.7%)	$3.1M (-10.1%)	0.0%	$226.97	$140.72	—	COM	95040Q104
NEM	NEWMONT CORP	16,700 (-3.5%)	$1.56M (-16.7%)	0.0%	$93.40	$118.12	—	COM	651639106
DOC	HEALTHPEAK PROPERTIES INC	82,206 (-34.4%)	$1.759M (-14.6%)	0.0%	$21.40	$22.91	—	COM	42250P103
MDLZ	MONDELEZ INTL INC	14,000 (-26.1%)	$810K (-25.9%)	0.0%	$57.84	$62.28	—	CL A	609207105
CPRT	COPART INC	34,700 (-7.5%)	$978K (-21.4%)	0.0%	$28.19	$52.11	—	COM	217204106
ARMK	ARAMARK	40,000 (-34.4%)	$2.276M (-8.0%)	0.0%	$56.90	$25.52	—	COM	03852U106
EWU	ISHARES TR	86,957 (-5.2%)	$4.012M (-4.0%)	0.0%	$46.14	$45.56	—	MSCI UK ETF NEW	46435G334
MRK	MERCK & CO INC	736,662 (-6.2%)	$94.66M (+0.2%)	1.1%	$128.50	$74.50	—	COM	58933Y105
NTAP	NETAPP INC	152,975 (-33.5%)	$23.67M (+0.6%)	0.3%	$154.76	$113.45	—	COM	64110D104
EQR	EQUITY RESIDENTIAL	20,527 (-18.9%)	$1.394M (-6.8%)	0.0%	$67.93	$57.23	—	SH BEN INT	29476L107
VGK	VANGUARD INTL EQUITY INDEX F	56,850 (-5.2%)	$5.033M (+1.8%)	0.1%	$88.54	$81.68	—	FTSE EUROPE ETF	922042874

Unchanged Positions (12)

AAPL APPLE INC 6.3%

Value $535M Shares 1,847,698 Share Price $289.36 Est. Cost/Share $199.22 Unrealized @ Report Date —

MA MASTERCARD INCORPORATED 4.0%

Value $346M Shares 673,122 Share Price $513.60 Est. Cost/Share $248.45 Unrealized @ Report Date —

GOOG ALPHABET INC 0.2%

Value $17.08M Shares 48,328 Share Price $353.33 Est. Cost/Share $110.55 Unrealized @ Report Date —

PLD PROLOGIS INC. 1.1%

Value $94.85M Shares 700,191 Share Price $135.47 Est. Cost/Share $104.74 Unrealized @ Report Date —

EVR EVERCORE INC 0.1%

Value $8.536M Shares 25,000 Share Price $341.44 Est. Cost/Share $60.28 Unrealized @ Report Date —

BLK BLACKROCK INC 2.7%

Value $231M Shares 239,888 Share Price $961.56 Est. Cost/Share $1002.57 Unrealized @ Report Date —

BAC BANK OF AMER CORP 0.0%

Value $1.926M Shares 33,800 Share Price $56.98 Est. Cost/Share $53.66 Unrealized @ Report Date —

NKE NIKE INC 0.0%

Value $957K Shares 23,321 Share Price $41.05 Est. Cost/Share $63.98 Unrealized @ Report Date —

WMT WALMART INC 0.0%

Value $2.911M Shares 25,698 Share Price $113.26 Est. Cost/Share $93.60 Unrealized @ Report Date —

LEMB ISHARES INC 0.1%

Value $4.576M Shares 107,858 Share Price $42.43 Est. Cost/Share $40.80 Unrealized @ Report Date —

BRBR BELLRING BRANDS INC 0.0%

Value $738K Shares 57,000 Share Price $12.94 Est. Cost/Share $47.08 Unrealized @ Report Date —

HDB HDFC BANK LTD 0.0%

Value $1.31M Shares 50,732 Share Price $25.83 Est. Cost/Share $50.26 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AAPL	APPLE INC	1,847,698	$535M	6.3%	$289.36	$199.22	—	COM	037833100
MA	MASTERCARD INCORPORATED	673,122	$346M	4.0%	$513.60	$248.45	—	CL A	57636Q104
GOOG	ALPHABET INC	48,328	$17.08M	0.2%	$353.33	$110.55	—	CAP STK CL C	02079K107
PLD	PROLOGIS INC.	700,191	$94.85M	1.1%	$135.47	$104.74	—	COM	74340W103
EVR	EVERCORE INC	25,000	$8.536M	0.1%	$341.44	$60.28	—	CLASS A	29977A105
BLK	BLACKROCK INC	239,888	$231M	2.7%	$961.56	$1002.57	—	COM	09290D101
BAC	BANK OF AMER CORP	33,800	$1.926M	0.0%	$56.98	$53.66	—	COM	060505104
NKE	NIKE INC	23,321	$957K	0.0%	$41.05	$63.98	—	CL B	654106103
WMT	WALMART INC	25,698	$2.911M	0.0%	$113.26	$93.60	—	COM	931142103
LEMB	ISHARES INC	107,858	$4.576M	0.1%	$42.43	$40.80	—	JP MORGAN EM ETF	464286517
BRBR	BELLRING BRANDS INC	57,000	$738K	0.0%	$12.94	$47.08	—	COMMON STOCK	07831C103
HDB	HDFC BANK LTD	50,732	$1.31M	0.0%	$25.83	$50.26	—	SPONSORED ADS	40415F101