Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMAT	APPLIED MATERIALS	382,307	$131M	1.3%	$326.57	0.0%	—	038222105
VZ	VERIZON COMMUNICATIONS	2,292,657	$115M	1.1%	$43.82	0.0%	—	92343V104
MU	MICRON TECHNOLOGY	336,884	$114M	1.1%	$387.04	0.0%	—	595112103
TJX	TJX COMPANIES	671,638	$107M	1.0%	$154.23	0.0%	—	872540109
KLAC	KLA Corp	70,710	$104M	1.0%	$1462.03	0.0%	—	482480100
—	LINDE PLC	204,135	$101M	1.0%	$495.76	—	—	53223L109
GS	GOLDMAN SACHS GROUP	116,003	$98.14M	1.0%	$932.60	0.0%	—	38141G104
AMGN	AMGEN	274,717	$96.66M	0.9%	$349.67	0.0%	—	031162100
MS	MORGAN STANLEY	554,412	$91.24M	0.9%	$179.67	0.0%	—	617446448

Increased Positions (24)

MSFT MICROSOFT CORP 8.8%

Value $897M (-21.3%) Shares 2,424,306 (+2.9%) Est. Cost $294.64 Unrealized +47.5%

TSLA TESLA INC 3.1%

Value $320M (-13.4%) Shares 859,510 (+4.8%) Est. Cost $245.74 Unrealized +73.3%

NVDA NVIDIA 13.8%

Value $1.408B (-3.4%) Shares 8,074,438 (+3.4%) Est. Cost $104.36 Unrealized +78.8%

AMZN AMAZON.COM 5.9%

Value $606M (-5.8%) Shares 2,907,437 (+4.3%) Est. Cost $150.35 Unrealized +50.9%

COST COSTCO WHOLESALE CORP 1.8%

Value $187M (+21.2%) Shares 187,243 (+4.9%) Est. Cost $824.78 Unrealized +16.9%

AVGO BROADCOM INC 4.0%

Value $409M (-7.0%) Shares 1,319,930 (+4.0%) Est. Cost $170.93 Unrealized +95.5%

CRM SALESFORCE 0.7%

Value $73.92M (-28.1%) Shares 396,006 (+2.0%) Est. Cost $307.33 Unrealized -29.8%

AAPL APPLE COMPUTER INC 10.9%

Value $1.114B (-2.4%) Shares 4,387,962 (+4.5%) Est. Cost $159.30 Unrealized +65.0%

LLY ELI LILLY & CO 2.3%

Value $231M (-9.6%) Shares 250,841 (+5.6%) Est. Cost $654.26 Unrealized +60.0%

GOOG ALPHABET INC 5.2%

Value $531M (-4.4%) Shares 1,850,462 (+4.6%) Est. Cost $154.93 Unrealized +108.9%

ORCL ORACLE CORPORATION 0.7%

Value $75.9M (-22.0%) Shares 515,959 (+3.4%) Est. Cost $162.85 Unrealized +4.2%

WELL WELLTOWER INC 1.9%

Value $197M (+11.7%) Shares 997,300 (+4.8%) Est. Cost $147.60 Unrealized +26.6%

JPM JPMORGAN CHASE & CO 2.6%

Value $261M (-6.5%) Shares 888,058 (+2.4%) Est. Cost $168.90 Unrealized +84.4%

MRK MERCK & CO 1.2%

Value $118M (+16.4%) Shares 979,681 (+1.8%) Est. Cost $93.62 Unrealized +22.1%

KO COCA-COLA COMPANY 1.1%

Value $117M (+15.8%) Shares 1,536,524 (+6.5%) Est. Cost $68.34 Unrealized +9.4%

NFLX NETFLIX INC 1.4%

Value $143M (+11.8%) Shares 1,482,395 (+9.1%) Est. Cost $103.71 Unrealized -19.2%

PLTR PALANTIR TECHNOLOGIES INC-A 1.0%

Value $102M (-12.8%) Shares 697,616 (+5.9%) Est. Cost $161.93 Unrealized -4.8%

UNH UNITEDHEALTH GROUP 0.7%

Value $70.11M (-15.8%) Shares 259,094 (+2.7%) Est. Cost $495.31 Unrealized -37.7%

PLD PROLOGIS, INC 1.5%

Value $156M (+9.0%) Shares 1,182,310 (+5.3%) Est. Cost $117.62 Unrealized +9.7%

GOOGL ALPHABET INC 4.3%

Value $443M (-2.5%) Shares 1,541,879 (+6.2%) Est. Cost $144.01 Unrealized +124.5%

BAC BANK OF AMERICA CORP 1.3%

Value $129M (-6.3%) Shares 2,654,169 (+5.8%) Est. Cost $42.47 Unrealized +26.4%

— CISCO SYSTEMS 1.0%

Value $107M (+3.6%) Shares 1,379,499 (+2.9%) Est. Cost $77.05 Unrealized —

AMD ADVANCED MICRO DEVICES 1.0%

Value $97.57M (-2.5%) Shares 479,647 (+2.6%) Est. Cost $224.52 Unrealized -1.3%

HD HOME DEPOT 1.1%

Value $114M (+0.3%) Shares 345,358 (+5.0%) Est. Cost $354.68 Unrealized +6.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	2,424,306 (+2.9%)	$897M (-21.3%)	8.8%	$294.64	+47.5%	—	594918104
TSLA	TESLA INC	859,510 (+4.8%)	$320M (-13.4%)	3.1%	$245.74	+73.3%	—	88160R101
NVDA	NVIDIA	8,074,438 (+3.4%)	$1.408B (-3.4%)	13.8%	$104.36	+78.8%	—	67066G104
AMZN	AMAZON.COM	2,907,437 (+4.3%)	$606M (-5.8%)	5.9%	$150.35	+50.9%	—	023135106
COST	COSTCO WHOLESALE CORP	187,243 (+4.9%)	$187M (+21.2%)	1.8%	$824.78	+16.9%	—	22160K105
AVGO	BROADCOM INC	1,319,930 (+4.0%)	$409M (-7.0%)	4.0%	$170.93	+95.5%	—	11135F101
CRM	SALESFORCE	396,006 (+2.0%)	$73.92M (-28.1%)	0.7%	$307.33	-29.8%	—	79466L302
AAPL	APPLE COMPUTER INC	4,387,962 (+4.5%)	$1.114B (-2.4%)	10.9%	$159.30	+65.0%	—	037833100
LLY	ELI LILLY & CO	250,841 (+5.6%)	$231M (-9.6%)	2.3%	$654.26	+60.0%	—	532457108
GOOG	ALPHABET INC	1,850,462 (+4.6%)	$531M (-4.4%)	5.2%	$154.93	+108.9%	—	02079K107
ORCL	ORACLE CORPORATION	515,959 (+3.4%)	$75.9M (-22.0%)	0.7%	$162.85	+4.2%	—	68389X105
WELL	WELLTOWER INC	997,300 (+4.8%)	$197M (+11.7%)	1.9%	$147.60	+26.6%	—	95040Q104
JPM	JPMORGAN CHASE & CO	888,058 (+2.4%)	$261M (-6.5%)	2.6%	$168.90	+84.4%	—	46625H100
MRK	MERCK & CO	979,681 (+1.8%)	$118M (+16.4%)	1.2%	$93.62	+22.1%	—	58933Y105
KO	COCA-COLA COMPANY	1,536,524 (+6.5%)	$117M (+15.8%)	1.1%	$68.34	+9.4%	—	191216100
NFLX	NETFLIX INC	1,482,395 (+9.1%)	$143M (+11.8%)	1.4%	$103.71	-19.2%	—	64110L106
PLTR	PALANTIR TECHNOLOGIES INC-A	697,616 (+5.9%)	$102M (-12.8%)	1.0%	$161.93	-4.8%	—	69608A108
UNH	UNITEDHEALTH GROUP	259,094 (+2.7%)	$70.11M (-15.8%)	0.7%	$495.31	-37.7%	—	91324P102
PLD	PROLOGIS, INC	1,182,310 (+5.3%)	$156M (+9.0%)	1.5%	$117.62	+9.7%	—	74340W103
GOOGL	ALPHABET INC	1,541,879 (+6.2%)	$443M (-2.5%)	4.3%	$144.01	+124.5%	—	02079K305
BAC	BANK OF AMERICA CORP	2,654,169 (+5.8%)	$129M (-6.3%)	1.3%	$42.47	+26.4%	—	060505104
—	CISCO SYSTEMS	1,379,499 (+2.9%)	$107M (+3.6%)	1.0%	$77.05	—	—	002198163
AMD	ADVANCED MICRO DEVICES	479,647 (+2.6%)	$97.57M (-2.5%)	1.0%	$224.52	-1.3%	—	007903107
HD	HOME DEPOT	345,358 (+5.0%)	$114M (+0.3%)	1.1%	$354.68	+6.3%	—	437076102

Decreased Positions (8)

V VISA INC-CLASS A SHARES 2.4%

Value $242M (-16.1%) Shares 799,547 (-2.7%) Est. Cost $279.70 Unrealized +17.7%

MA MASTERCARD INC 2.0%

Value $201M (-13.5%) Shares 402,662 (-1.1%) Est. Cost $470.88 Unrealized +14.5%

BKNG BOOKING HOLDINGS INC 0.9%

Value $87.04M (-25.5%) Shares 20,673 (-5.2%) Est. Cost $5125.85 Unrealized -6.7%

NOW SERVICENOW INC 0.5%

Value $47.43M (-37.0%) Shares 453,666 (-7.7%) Est. Cost $177.87 Unrealized -31.9%

— LAM RESEARCH 1.4%

Value $139M (+20.0%) Shares 652,032 (-3.8%) Est. Cost $171.18 Unrealized —

SPGI S&P GLOBAL 0.7%

Value $70.91M (-22.9%) Shares 166,707 (-5.3%) Est. Cost $533.84 Unrealized -9.1%

BKR BAKER HUGHES CO 2.2%

Value $229M (+1.9%) Shares 3,752,052 (-24.0%) Est. Cost $32.83 Unrealized +70.8%

ABBV ABBVIE INC 1.2%

Value $124M (-0.1%) Shares 536,670 (-1.4%) Est. Cost $189.86 Unrealized +17.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
V	VISA INC-CLASS A SHARES	799,547 (-2.7%)	$242M (-16.1%)	2.4%	$279.70	+17.7%	—	92826C839
MA	MASTERCARD INC	402,662 (-1.1%)	$201M (-13.5%)	2.0%	$470.88	+14.5%	—	57636Q104
BKNG	BOOKING HOLDINGS INC	20,673 (-5.2%)	$87.04M (-25.5%)	0.9%	$5125.85	-6.7%	—	09857L108
NOW	SERVICENOW INC	453,666 (-7.7%)	$47.43M (-37.0%)	0.5%	$177.87	-31.9%	—	81762P102
—	LAM RESEARCH	652,032 (-3.8%)	$139M (+20.0%)	1.4%	$171.18	—	—	512807108
SPGI	S&P GLOBAL	166,707 (-5.3%)	$70.91M (-22.9%)	0.7%	$533.84	-9.1%	—	78409V104
BKR	BAKER HUGHES CO	3,752,052 (-24.0%)	$229M (+1.9%)	2.2%	$32.83	+70.8%	—	05722G100
ABBV	ABBVIE INC	536,670 (-1.4%)	$124M (-0.1%)	1.2%	$189.86	+17.2%	—	00287Y109

Unchanged Positions (3)

FISV FISERV 0.1%

Value $12.24M Shares 219,365 Est. Cost $204.14 Unrealized -68.7%

ADP AUTOMATIC DATA PROCESSING 0.7%

Value $71.88M Shares 353,771 Est. Cost $296.23 Unrealized -18.7%

PG PROCTER & GAMBLE CO 1.3%

Value $137M Shares 949,791 Est. Cost $145.64 Unrealized +4.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FISV	FISERV	219,365	$12.24M	0.1%	$204.14	-68.7%	—	337738108
ADP	AUTOMATIC DATA PROCESSING	353,771	$71.88M	0.7%	$296.23	-18.7%	—	053015103
PG	PROCTER & GAMBLE CO	949,791	$137M	1.3%	$145.64	+4.2%	—	742718109