Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AR	ANTERO RESOURCES CORP	127,000 (+8.6%)	$4.463M (-10.0%)	2.0%	$33.96	—	COM	03674X106
DVN	DEVON ENERGY CORP NEW	16,300 (+126.4%)	$674K (+85.9%)	0.3%	$38.92	—	COM	25179M103
MSFT	MICROSOFT CORP	32,175 (+1.4%)	$12M (+2.2%)	5.3%	$160.24	—	COM	594918104
SO	SOUTHERN CO	90,154 (+2.5%)	$8.629M (+1.6%)	3.8%	$52.84	—	COM	842587107
NVDA	NVIDIA CORPORATION	3,755 (+3.2%)	$751K (+18.4%)	0.3%	$155.59	—	COM	67066G104
DLR	DIGITAL RLTY TR INC	33,942 (+1.1%)	$6.095M (+0.8%)	2.7%	$110.40	—	COM	253868103

Exited Positions (1)

CEG CONSTELLATION ENERGY CORP 0.9%

Value $1.921M Shares 6,880 Est. Cost $308.60 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CEG	CONSTELLATION ENERGY CORP	6,880	$1.921M	0.9%	$308.60	—	—	21037T109

Decreased Positions (12)

LLY ELI LILLY & CO 11.0%

Value $24.69M (+28.3%) Shares 20,586 (-1.6%) Est. Cost $140.09 Unrealized —

ASML ASML HLDG NV 5.7%

Value $12.88M (+48.8%) Shares 6,475 (-1.2%) Est. Cost $693.44 Unrealized —

GOOG ALPHABET INC 8.3%

Value $18.75M (+10.8%) Shares 53,071 (-10.1%) Est. Cost $109.74 Unrealized —

AAPL APPLE INC 7.3%

Value $16.43M (+11.8%) Shares 56,782 (-2.0%) Est. Cost $96.02 Unrealized —

JPM JPMORGAN CHASE & CO 5.8%

Value $13.03M (+10.1%) Shares 39,794 (-1.0%) Est. Cost $112.60 Unrealized —

PNC PNC FINL SVCS GROUP INC 2.3%

Value $5.09M (+16.0%) Shares 20,673 (-2.0%) Est. Cost $114.13 Unrealized —

HD HOME DEPOT INC 3.2%

Value $7.265M (+5.2%) Shares 20,598 (-1.9%) Est. Cost $211.81 Unrealized —

CSX CSX CORP 0.4%

Value $902K (+12.7%) Shares 18,985 (-2.7%) Est. Cost $31.44 Unrealized —

GOOGL ALPHABET INC 0.2%

Value $434K (+21.8%) Shares 1,215 (-2.0%) Est. Cost $133.35 Unrealized —

PG PROCTER & GAMBLE CO 2.0%

Value $4.571M (-1.3%) Shares 31,169 (-2.8%) Est. Cost $130.35 Unrealized —

KMI KINDER MORGAN INC DEL 0.2%

Value $550K (-8.6%) Shares 17,200 (-4.2%) Est. Cost $15.15 Unrealized —

MCO MOODYS CORP 0.2%

Value $430K (-1.4%) Shares 950 (-5.0%) Est. Cost $413.03 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	20,586 (-1.6%)	$24.69M (+28.3%)	11.0%	$140.09	—	COM	532457108
ASML	ASML HLDG NV	6,475 (-1.2%)	$12.88M (+48.8%)	5.7%	$693.44	—	N Y REGISTRY SHS	N07059210
GOOG	ALPHABET INC	53,071 (-10.1%)	$18.75M (+10.8%)	8.3%	$109.74	—	CAP STK CL C	02079K107
AAPL	APPLE INC	56,782 (-2.0%)	$16.43M (+11.8%)	7.3%	$96.02	—	COM	037833100
JPM	JPMORGAN CHASE & CO	39,794 (-1.0%)	$13.03M (+10.1%)	5.8%	$112.60	—	COM	46625H100
PNC	PNC FINL SVCS GROUP INC	20,673 (-2.0%)	$5.09M (+16.0%)	2.3%	$114.13	—	COM	693475105
HD	HOME DEPOT INC	20,598 (-1.9%)	$7.265M (+5.2%)	3.2%	$211.81	—	COM	437076102
CSX	CSX CORP	18,985 (-2.7%)	$902K (+12.7%)	0.4%	$31.44	—	COM	126408103
GOOGL	ALPHABET INC	1,215 (-2.0%)	$434K (+21.8%)	0.2%	$133.35	—	CAP STK CL A	02079K305
PG	PROCTER & GAMBLE CO	31,169 (-2.8%)	$4.571M (-1.3%)	2.0%	$130.35	—	COM	742718109
KMI	KINDER MORGAN INC DEL	17,200 (-4.2%)	$550K (-8.6%)	0.2%	$15.15	—	COM	49456B101
MCO	MOODYS CORP	950 (-5.0%)	$430K (-1.4%)	0.2%	$413.03	—	COM	615369105

Unchanged Positions (19)

UNH UNITEDHEALTH GROUP INC 3.0%

Value $6.704M Shares 16,130 Est. Cost $253.31 Unrealized —

AMZN AMAZON COM INC 5.8%

Value $12.97M Shares 54,412 Est. Cost $124.46 Unrealized —

V VISA INC 4.6%

Value $10.46M Shares 30,473 Est. Cost $176.23 Unrealized —

LMT LOCKHEED MARTIN CORP 2.6%

Value $5.807M Shares 11,399 Est. Cost $326.55 Unrealized —

COST COSTCO WHOLESALE CORPORATION 2.9%

Value $6.577M Shares 7,031 Est. Cost $275.50 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 4.9%

Value $11.11M Shares 22,193 Est. Cost $228.09 Unrealized —

SYK STRYKER CORPORATION 2.5%

Value $5.656M Shares 17,964 Est. Cost $198.11 Unrealized —

JNJ JOHNSON & JOHNSON 3.6%

Value $8.131M Shares 32,017 Est. Cost $117.13 Unrealized —

MOG/A MOOG INC 0.3%

Value $657K Shares 1,550 Est. Cost $174.57 Unrealized —

ITW ILLINOIS TOOL WKS INC 2.5%

Value $5.699M Shares 21,069 Est. Cost $164.51 Unrealized —

RTX RTX CORPORATION 3.0%

Value $6.82M Shares 35,944 Est. Cost $58.81 Unrealized —

USB US BANCORP 0.3%

Value $602K Shares 9,970 Est. Cost $38.92 Unrealized —

ABBV ABBVIE INC 0.1%

Value $311K Shares 1,236 Est. Cost $178.69 Unrealized —

PSX PHILLIPS 66 0.2%

Value $399K Shares 2,359 Est. Cost $109.47 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 0.3%

Value $749K Shares 1 Est. Cost $616493.94 Unrealized —

AEP AMERICAN ELEC PWR CO INC 0.2%

Value $383K Shares 2,800 Est. Cost $75.44 Unrealized —

KNG FIRST TR EXCHANGE-TRADED FD 0.2%

Value $356K Shares 7,050 Est. Cost $49.23 Unrealized —

XEL XCEL ENERGY INC 0.4%

Value $922K Shares 11,482 Est. Cost $51.71 Unrealized —

BLK BLACKROCK INC 1.4%

Value $3.17M Shares 3,297 Est. Cost $994.06 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNH	UNITEDHEALTH GROUP INC	16,130	$6.704M	3.0%	$253.31	—	COM	91324P102
AMZN	AMAZON COM INC	54,412	$12.97M	5.8%	$124.46	—	COM	023135106
V	VISA INC	30,473	$10.46M	4.6%	$176.23	—	COM CL A	92826C839
LMT	LOCKHEED MARTIN CORP	11,399	$5.807M	2.6%	$326.55	—	COM	539830109
COST	COSTCO WHOLESALE CORPORATION	7,031	$6.577M	2.9%	$275.50	—	COM	22160K105
BRK/B	BERKSHIRE HATHAWAY INC DEL	22,193	$11.11M	4.9%	$228.09	—	CL B NEW	084670702
SYK	STRYKER CORPORATION	17,964	$5.656M	2.5%	$198.11	—	COM	863667101
JNJ	JOHNSON & JOHNSON	32,017	$8.131M	3.6%	$117.13	—	COM	478160104
MOG/A	MOOG INC	1,550	$657K	0.3%	$174.57	—	CL A	615394202
ITW	ILLINOIS TOOL WKS INC	21,069	$5.699M	2.5%	$164.51	—	COM	452308109
RTX	RTX CORPORATION	35,944	$6.82M	3.0%	$58.81	—	COM	75513E101
USB	US BANCORP	9,970	$602K	0.3%	$38.92	—	COM NEW	902973304
ABBV	ABBVIE INC	1,236	$311K	0.1%	$178.69	—	COM	00287Y109
PSX	PHILLIPS 66	2,359	$399K	0.2%	$109.47	—	COM	718546104
BRK/A	BERKSHIRE HATHAWAY INC DEL	1	$749K	0.3%	$616493.94	—	CL A	084670108
AEP	AMERICAN ELEC PWR CO INC	2,800	$383K	0.2%	$75.44	—	COM	025537101
KNG	FIRST TR EXCHANGE-TRADED FD	7,050	$356K	0.2%	$49.23	—	FT VEST S&P 500	33739Q705
XEL	XCEL ENERGY INC	11,482	$922K	0.4%	$51.71	—	COM	98389B100
BLK	BLACKROCK INC	3,297	$3.17M	1.4%	$994.06	—	COM	09290D101