Select Asset Management & Trust Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	S&P 500 Spiders	160,946 (+6.0%)	$110 (+8.5%)	34.1%	$66.24	—	ETF	78462F103
XOM	Exxon Mobil Corp.	47,141 (+6.8%)	$6 (+14.0%)	1.8%	$100.34	+15.1%	COM	30231G102
MGV	Vanguard Mega Cap Value	105,281 (+1.3%)	$15 (+3.8%)	4.6%	$44.74	—	ETF	921910840
PPL	PPL Corporation	15,500 (+181.8%)	$1 (+166.2%)	0.2%	$35.69	+0.4%	COM	69351T106
VIGI	Vanguard Int Div App Index	56,166 (+4.4%)	$5 (+6.5%)	1.6%	$18.50	—	ETF	921946810
VGK	Vanguard European Stock	61,342 (+1.2%)	$5 (+6.1%)	1.6%	$0.07	—	ETF	922042874
NFLX	Netfllix Inc	4,050 (+900.0%)	$0 (-21.8%)	0.1%	$100.71	+7.0%	COM	64110L106
IBIT	iShares Bitcoin Trust ETF	5,655 (+62.8%)	$0 (+24.3%)	0.1%	$0.06	—	ETF	46438F101
—	Ashtead Group	4,785 (+15.2%)	$0 (+18.4%)	0.1%	$0.06	—	COM	G05320919
MLM	Martin Marietta Materials	484 (+12.6%)	$0 (+11.1%)	0.1%	$464.95	+33.6%	COM	573284106
UBER	Uber Technologies	3,767 (+11.0%)	$0 (-7.2%)	0.1%	$83.09	+8.4%	COM	90353T100
PM	Phillip Morris International	2,783 (+6.1%)	$0 (+4.9%)	0.1%	$59.70	+157.2%	COM	718172109
XLK	Amex Technology Select Index	1,640 (+100.0%)	$0 (+2.2%)	0.1%	$0.20	—	ETF	81369Y803

Exited Positions (9)

EEM iShares MSCI Emerging Markets 1.3%

Value ($000) $4 Shares 76,550 Est. Cost $0.04 Unrealized —

IJR iShares SC S&P 600 0.9%

Value ($000) $3 Shares 23,001 Est. Cost $0.12 Unrealized —

SSO Ultra S&P 500 Proshares 0.2%

Value ($000) $1 Shares 7,000 Est. Cost $0.10 Unrealized —

TFC Truist Financial Corp 0.1%

Value ($000) $0 Shares 7,097 Est. Cost $36.18 Unrealized +26.6%

BITB Bitwise Bitcoin 0.1%

Value ($000) $0 Shares 4,190 Est. Cost $0.06 Unrealized —

HON Honeywell International I 0.1%

Value ($000) $0 Shares 1,000 Est. Cost $203.59 Unrealized -4.2%

SPOT Spotify Technology 0.1%

Value ($000) $0 Shares 300 Est. Cost $641.84 Unrealized -2.6%

DASH Doordash Inc 0.1%

Value ($000) $0 Shares 758 Est. Cost $250.83 Unrealized -6.5%

QXO QXO Inc 0.1%

Value ($000) $0 Shares 10,000 Est. Cost $20.71 Unrealized -7.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EEM	iShares MSCI Emerging Markets	76,550	$4	1.3%	$0.04	—	—	464287234
IJR	iShares SC S&P 600	23,001	$3	0.9%	$0.12	—	—	464287804
SSO	Ultra S&P 500 Proshares	7,000	$1	0.2%	$0.10	—	—	74347R107
TFC	Truist Financial Corp	7,097	$0	0.1%	$36.18	+26.6%	—	89832Q109
BITB	Bitwise Bitcoin	4,190	$0	0.1%	$0.06	—	—	09174C104
HON	Honeywell International I	1,000	$0	0.1%	$203.59	-4.2%	—	438516106
SPOT	Spotify Technology	300	$0	0.1%	$641.84	-2.6%	—	L8681T102
DASH	Doordash Inc	758	$0	0.1%	$250.83	-6.5%	—	25809K105
QXO	QXO Inc	10,000	$0	0.1%	$20.71	-7.4%	—	82846H405

Decreased Positions (17)

EFA MSCI EAFE Index 3.2%

Value ($000) $10 (-36.4%) Shares 108,608 (-38.2%) Est. Cost $0.08 Unrealized —

EHC Encompass Health Corporation 0.2%

Value ($000) $1 (-50.2%) Shares 7,387 (-40.4%) Est. Cost $77.85 Unrealized +48.6%

GDX Market Vectors Gold Miners 0.5%

Value ($000) $2 (-25.2%) Shares 20,000 (-33.3%) Est. Cost $38.37 Unrealized —

CSL Carlisle Companies Inc 1.0%

Value ($000) $3 (-11.2%) Shares 10,509 (-8.7%) Est. Cost $132.46 Unrealized +143.6%

MSFT Microsoft Corp 1.4%

Value ($000) $4 (-7.6%) Shares 9,128 (-1.0%) Est. Cost $183.84 Unrealized +172.3%

GOOG Alphabet Inc - C Shares 0.6%

Value ($000) $2 (+18.5%) Shares 6,242 (-8.1%) Est. Cost $112.83 Unrealized +153.8%

UTZ Utz Brands, Inc. 0.4%

Value ($000) $1 (-20.0%) Shares 110,519 (-6.4%) Est. Cost $14.57 Unrealized -26.0%

VWO Vanguard Emerging Markets 0.2%

Value ($000) $1 (-22.8%) Shares 14,027 (-22.2%) Est. Cost $0.05 Unrealized —

META Meta Platforms Inc 0.3%

Value ($000) $1 (-14.9%) Shares 1,380 (-5.3%) Est. Cost $210.42 Unrealized +217.1%

GLD Streettracks Gold Shares 0.1%

Value ($000) $0 (-36.2%) Shares 666 (-42.9%) Est. Cost $0.36 Unrealized —

GOOGL Alphabet Inc - A Shares 0.2%

Value ($000) $1 (+25.7%) Shares 1,750 (-2.5%) Est. Cost $141.98 Unrealized +101.2%

GS Goldman, Sachs & Co. 0.1%

Value ($000) $0 (-26.4%) Shares 308 (-33.3%) Est. Cost $423.71 Unrealized +92.0%

LMT Lockheed Martin 0.1%

Value ($000) $0 (-20.8%) Shares 742 (-18.2%) Est. Cost $318.96 Unrealized +49.3%

BBT Berkshire Hills Bancorp Inc 0.2%

Value ($000) $1 (-9.9%) Shares 26,101 (-19.1%) Est. Cost $12.89 Unrealized +93.5%

CVX Chevron Texaco Corporation 0.2%

Value ($000) $1 (-5.5%) Shares 4,620 (-3.7%) Est. Cost $107.15 Unrealized +41.3%

JNJ Johnson & Johnson 0.2%

Value ($000) $1 (+3.8%) Shares 3,285 (-7.1%) Est. Cost $150.75 Unrealized +30.7%

PG Procter & Gamble Company 0.1%

Value ($000) $0 (-7.6%) Shares 1,451 (-1.1%) Est. Cost $165.52 Unrealized -11.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EFA	MSCI EAFE Index	108,608 (-38.2%)	$10 (-36.4%)	3.2%	$0.08	—	ETF	464287465
EHC	Encompass Health Corporation	7,387 (-40.4%)	$1 (-50.2%)	0.2%	$77.85	+48.6%	COM	29261A100
GDX	Market Vectors Gold Miners	20,000 (-33.3%)	$2 (-25.2%)	0.5%	$38.37	—	ETF	92189F106
CSL	Carlisle Companies Inc	10,509 (-8.7%)	$3 (-11.2%)	1.0%	$132.46	+143.6%	COM	142339100
MSFT	Microsoft Corp	9,128 (-1.0%)	$4 (-7.6%)	1.4%	$183.84	+172.3%	COM	594918104
GOOG	Alphabet Inc - C Shares	6,242 (-8.1%)	$2 (+18.5%)	0.6%	$112.83	+153.8%	COM	02079K107
UTZ	Utz Brands, Inc.	110,519 (-6.4%)	$1 (-20.0%)	0.4%	$14.57	-26.0%	COM	918090101
VWO	Vanguard Emerging Markets	14,027 (-22.2%)	$1 (-22.8%)	0.2%	$0.05	—	ETF	922042858
META	Meta Platforms Inc	1,380 (-5.3%)	$1 (-14.9%)	0.3%	$210.42	+217.1%	COM	30303M102
GLD	Streettracks Gold Shares	666 (-42.9%)	$0 (-36.2%)	0.1%	$0.36	—	ETF	78463V107
GOOGL	Alphabet Inc - A Shares	1,750 (-2.5%)	$1 (+25.7%)	0.2%	$141.98	+101.2%	COM	02079K305
GS	Goldman, Sachs & Co.	308 (-33.3%)	$0 (-26.4%)	0.1%	$423.71	+92.0%	COM	38141G104
LMT	Lockheed Martin	742 (-18.2%)	$0 (-20.8%)	0.1%	$318.96	+49.3%	COM	539830109
BBT	Berkshire Hills Bancorp Inc	26,101 (-19.1%)	$1 (-9.9%)	0.2%	$12.89	+93.5%	COM	084680107
CVX	Chevron Texaco Corporation	4,620 (-3.7%)	$1 (-5.5%)	0.2%	$107.15	+41.3%	COM	166764100
JNJ	Johnson & Johnson	3,285 (-7.1%)	$1 (+3.8%)	0.2%	$150.75	+30.7%	COM	478160104
PG	Procter & Gamble Company	1,451 (-1.1%)	$0 (-7.6%)	0.1%	$165.52	-11.1%	COM	742718109

Unchanged Positions (44)

DIA Dow Diamonds - SPDR Dow Jones 8.7%

Value ($000) $28 Shares 58,415 Est. Cost $31.57 Unrealized —

EME Emcor Group Inc 4.3%

Value ($000) $14 Shares 22,773 Est. Cost $105.72 Unrealized +512.5%

VIG Vanguard Dividend Appreciation 8.4%

Value ($000) $27 Shares 122,631 Est. Cost $42.36 Unrealized —

AAPL Apple Computer, Inc. 2.9%

Value ($000) $9 Shares 34,413 Est. Cost $181.12 Unrealized +48.2%

CWAN Clearwater Analytics Holdings - Class A 0.5%

Value ($000) $2 Shares 71,299 Est. Cost $28.07 Unrealized -28.6%

VYM Vanguard High Div Yield 6.1%

Value ($000) $20 Shares 136,235 Est. Cost $0.12 Unrealized —

OEF iShares S&P 100 Index 3.0%

Value ($000) $10 Shares 28,439 Est. Cost $0.24 Unrealized —

SLV iShares Silver Trust 0.2%

Value ($000) $1 Shares 8,000 Est. Cost $0.03 Unrealized —

AMZN Amazon.com Inc 1.1%

Value ($000) $4 Shares 15,214 Est. Cost $171.22 Unrealized +33.6%

MRK Merck & Co Inc. 0.2%

Value ($000) $1 Shares 5,876 Est. Cost $97.72 Unrealized -4.6%

PAYC Paycom Software Inc 0.1%

Value ($000) $0 Shares 2,500 Est. Cost $38.31 Unrealized +361.9%

FDX Fed-Ex Corporation 0.2%

Value ($000) $1 Shares 1,780 Est. Cost $218.89 Unrealized +19.5%

HCA HCA Inc. 0.3%

Value ($000) $1 Shares 1,745 Est. Cost $205.28 Unrealized +125.9%

JPM J.P. Morgan Chase 1.3%

Value ($000) $4 Shares 13,199 Est. Cost $148.46 Unrealized +108.5%

USMV iShares MSCI USA Minimum Vol 2.1%

Value ($000) $7 Shares 70,420 Est. Cost $0.09 Unrealized —

— CIE Financiere Richemon 0.2%

Value ($000) $1 Shares 2,333 Est. Cost $85.63 Unrealized —

HD Home Depot, Inc. 0.1%

Value ($000) $0 Shares 969 Est. Cost $397.26 Unrealized -8.2%

BX Blackstone Group LP 0.2%

Value ($000) $1 Shares 3,511 Est. Cost $107.20 Unrealized +41.3%

C Citigroup 0.1%

Value ($000) $0 Shares 3,274 Est. Cost $74.53 Unrealized +39.0%

ABT Abbott Labs 0.2%

Value ($000) $1 Shares 5,200 Est. Cost $113.33 Unrealized +12.3%

BAC Bank of America 0.2%

Value ($000) $1 Shares 10,307 Est. Cost $29.37 Unrealized +79.3%

VOO Vanguard S&P 500 ETF 0.5%

Value ($000) $1 Shares 2,363 Est. Cost $0.46 Unrealized —

BRK/B Berkshire Hathaway Inc. Cl B 1.0%

Value ($000) $3 Shares 6,284 Est. Cost $261.94 Unrealized +89.9%

— Heineken Holding ORD EUR1.6 0.1%

Value ($000) $0 Shares 6,145 Est. Cost $51.51 Unrealized —

APD Air Products & Chemical Inc 0.1%

Value ($000) $0 Shares 1,000 Est. Cost $304.00 Unrealized -17.2%

NSRGY Nestle SA ADR 0.1%

Value ($000) $0 Shares 3,532 Est. Cost $73.90 Unrealized —

SHOP Shopify Inc 0.1%

Value ($000) $0 Shares 2,000 Est. Cost $100.02 Unrealized +60.5%

HSY Hershey Foods Corp 0.2%

Value ($000) $1 Shares 4,403 Est. Cost $166.57 Unrealized +9.3%

PFE Pfizer Inc 0.3%

Value ($000) $1 Shares 36,342 Est. Cost $28.92 Unrealized -13.4%

ABBV ABBVIE INC 0.5%

Value ($000) $1 Shares 6,500 Est. Cost $177.82 Unrealized +28.0%

NEE NextEra Energy, Inc. 0.1%

Value ($000) $0 Shares 4,288 Est. Cost $69.01 Unrealized +19.6%

MCD McDonald's Corp 1.0%

Value ($000) $3 Shares 9,996 Est. Cost $273.09 Unrealized +11.7%

VV Vanguard Large Cap 0.2%

Value ($000) $1 Shares 2,365 Est. Cost $175.74 Unrealized —

SHEL Sheldahl, Inc. 0.2%

Value ($000) $1 Shares 7,074 Est. Cost $54.96 Unrealized —

PEG Public Service Enterprise Group 0.1%

Value ($000) $0 Shares 4,103 Est. Cost $80.99 Unrealized +0.1%

INTU Intuit Inc 0.1%

Value ($000) $0 Shares 600 Est. Cost $340.30 Unrealized +94.2%

VNQ Vanguard REIT Index 0.1%

Value ($000) $0 Shares 3,197 Est. Cost $0.10 Unrealized —

XLF Financial Select Sector 0.2%

Value ($000) $1 Shares 10,035 Est. Cost $39.07 Unrealized —

IVW iShares S&P 500 BARA Growth Index 0.1%

Value ($000) $0 Shares 3,666 Est. Cost $0.09 Unrealized —

NVDA NVIDIA Corp 0.5%

Value ($000) $2 Shares 8,695 Est. Cost $127.12 Unrealized +46.4%

IVE iShares S&P 500 Value 0.1%

Value ($000) $0 Shares 1,199 Est. Cost $0.15 Unrealized —

VUG Vanguard Growth Vipers 0.1%

Value ($000) $0 Shares 690 Est. Cost $13.03 Unrealized —

MA Mastercard 0.2%

Value ($000) $1 Shares 1,056 Est. Cost $345.86 Unrealized +61.6%

UA Under Armour Inc - Class C 0.0%

Value ($000) $0 Shares 14,607 Est. Cost $5.59 Unrealized -20.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DIA	Dow Diamonds - SPDR Dow Jones	58,415	$28	8.7%	$31.57	—	ETF	78467X109
EME	Emcor Group Inc	22,773	$14	4.3%	$105.72	+512.5%	COM	29084Q100
VIG	Vanguard Dividend Appreciation	122,631	$27	8.4%	$42.36	—	ETF	921908844
AAPL	Apple Computer, Inc.	34,413	$9	2.9%	$181.12	+48.2%	COM	037833100
CWAN	Clearwater Analytics Holdings - Class A	71,299	$2	0.5%	$28.07	-28.6%	COM	185123106
VYM	Vanguard High Div Yield	136,235	$20	6.1%	$0.12	—	ETF	921946406
OEF	iShares S&P 100 Index	28,439	$10	3.0%	$0.24	—	ETF	464287101
SLV	iShares Silver Trust	8,000	$1	0.2%	$0.03	—	ETF	46428Q109
AMZN	Amazon.com Inc	15,214	$4	1.1%	$171.22	+33.6%	COM	023135106
MRK	Merck & Co Inc.	5,876	$1	0.2%	$97.72	-4.6%	COM	58933Y105
PAYC	Paycom Software Inc	2,500	$0	0.1%	$38.31	+361.9%	COM	70432V102
FDX	Fed-Ex Corporation	1,780	$1	0.2%	$218.89	+19.5%	COM	31428X106
HCA	HCA Inc.	1,745	$1	0.3%	$205.28	+125.9%	COM	40412C101
JPM	J.P. Morgan Chase	13,199	$4	1.3%	$148.46	+108.5%	COM	46625H100
USMV	iShares MSCI USA Minimum Vol	70,420	$7	2.1%	$0.09	—	ETF	46429B697
—	CIE Financiere Richemon	2,333	$1	0.2%	$85.63	—	COM	H25662943
HD	Home Depot, Inc.	969	$0	0.1%	$397.26	-8.2%	COM	437076102
BX	Blackstone Group LP	3,511	$1	0.2%	$107.20	+41.3%	ETF	09260D107
C	Citigroup	3,274	$0	0.1%	$74.53	+39.0%	COM	172967424
ABT	Abbott Labs	5,200	$1	0.2%	$113.33	+12.3%	COM	002824100
BAC	Bank of America	10,307	$1	0.2%	$29.37	+79.3%	COM	060505104
VOO	Vanguard S&P 500 ETF	2,363	$1	0.5%	$0.46	—	ETF	922908363
BRK/B	Berkshire Hathaway Inc. Cl B	6,284	$3	1.0%	$261.94	+89.9%	COM	084670702
—	Heineken Holding ORD EUR1.6	6,145	$0	0.1%	$51.51	—	COM	423991959
APD	Air Products & Chemical Inc	1,000	$0	0.1%	$304.00	-17.2%	COM	009158106
NSRGY	Nestle SA ADR	3,532	$0	0.1%	$73.90	—	COM	641069406
SHOP	Shopify Inc	2,000	$0	0.1%	$100.02	+60.5%	COM	82509L107
HSY	Hershey Foods Corp	4,403	$1	0.2%	$166.57	+9.3%	COM	427866108
PFE	Pfizer Inc	36,342	$1	0.3%	$28.92	-13.4%	COM	717081103
ABBV	ABBVIE INC	6,500	$1	0.5%	$177.82	+28.0%	COM	00287Y109
NEE	NextEra Energy, Inc.	4,288	$0	0.1%	$69.01	+19.6%	COM	65339F101
MCD	McDonald's Corp	9,996	$3	1.0%	$273.09	+11.7%	COM	580135101
VV	Vanguard Large Cap	2,365	$1	0.2%	$175.74	—	ETF	922908637
SHEL	Sheldahl, Inc.	7,074	$1	0.2%	$54.96	—	COM	780259305
PEG	Public Service Enterprise Group	4,103	$0	0.1%	$80.99	+0.1%	COM	744573106
INTU	Intuit Inc	600	$0	0.1%	$340.30	+94.2%	COM	461202103
VNQ	Vanguard REIT Index	3,197	$0	0.1%	$0.10	—	ETF	922908553
XLF	Financial Select Sector	10,035	$1	0.2%	$39.07	—	ETF	81369Y605
IVW	iShares S&P 500 BARA Growth Index	3,666	$0	0.1%	$0.09	—	ETF	464287309
NVDA	NVIDIA Corp	8,695	$2	0.5%	$127.12	+46.4%	COM	67066G104
IVE	iShares S&P 500 Value	1,199	$0	0.1%	$0.15	—	ETF	464287408
VUG	Vanguard Growth Vipers	690	$0	0.1%	$13.03	—	ETF	922908736
MA	Mastercard	1,056	$1	0.2%	$345.86	+61.6%	COM	57636Q104
UA	Under Armour Inc - Class C	14,607	$0	0.0%	$5.59	-20.5%	COM	904311206