CLOVERFIELDS CAPITAL GROUP, LP Diversified Active

CIK: 0001819581 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $322,676 (100.0% shares, 0.0% debt)

Holdings (90)

New Positions (5)

AVGO BROADCOM INC 1.2%

Value ($000) $3,944 Shares 11,395 Est. Cost $357.00 Unrealized 0.0%

TTE TOTALENERGIES SE 1.0%

Value ($000) $3,305 Shares 50,522 Est. Cost $63.23 Unrealized 0.0%

ITUB ITAU UNIBANCO HLDG S A 0.6%

Value ($000) $1,823 Shares 254,644 Est. Cost $7.16 Unrealized —

AEP AMERICAN ELEC PWR CO INC 0.2%

Value ($000) $640 Shares 5,552 Est. Cost $117.70 Unrealized 0.0%

CCJ CAMECO CORP 0.1%

Value ($000) $210 Shares 2,292 Est. Cost $89.94 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	11,395	$3,944	1.2%	$357.00	0.0%	COM	11135F101
TTE	TOTALENERGIES SE	50,522	$3,305	1.0%	$63.23	0.0%	ACT	F92124100
ITUB	ITAU UNIBANCO HLDG S A	254,644	$1,823	0.6%	$7.16	—	SPON ADR REP PFD	465562106
AEP	AMERICAN ELEC PWR CO INC	5,552	$640	0.2%	$117.70	0.0%	COM	025537101
CCJ	CAMECO CORP	2,292	$210	0.1%	$89.94	0.0%	COM	13321L108

Increased Positions (42)

EQT EQT CORP 1.5%

Value ($000) $4,817 (+523.0%) Shares 89,874 (+532.6%) Est. Cost $55.24 Unrealized +1.6%

AMZN AMAZON COM INC 2.7%

Value ($000) $8,843 (+25.8%) Shares 38,310 (+19.6%) Est. Cost $140.57 Unrealized +62.8%

NU NU HLDGS LTD 1.5%

Value ($000) $4,861 (+58.7%) Shares 290,380 (+51.8%) Est. Cost $10.63 Unrealized +51.2%

TSM TAIWAN SEMICONDUCTOR MFG LTD 3.4%

Value ($000) $10,882 (+18.5%) Shares 35,808 (+8.9%) Est. Cost $164.73 Unrealized —

YUMC YUM CHINA HLDGS INC 0.8%

Value ($000) $2,685 (+145.6%) Shares 56,247 (+120.8%) Est. Cost $48.65 Unrealized -5.8%

ZTS ZOETIS INC 1.4%

Value ($000) $4,595 (+37.3%) Shares 36,524 (+59.6%) Est. Cost $147.25 Unrealized -11.5%

APO APOLLO GLOBAL MGMT INC 1.6%

Value ($000) $5,184 (+21.8%) Shares 35,811 (+12.1%) Est. Cost $145.51 Unrealized -8.9%

NVS NOVARTIS AG 1.0%

Value ($000) $3,272 (+37.1%) Shares 23,731 (+27.5%) Est. Cost $119.41 Unrealized —

NVDA NVIDIA CORPORATION 2.6%

Value ($000) $8,443 (+11.5%) Shares 45,269 (+11.6%) Est. Cost $100.99 Unrealized +84.3%

NKE NIKE INC 1.5%

Value ($000) $4,959 (+20.5%) Shares 77,832 (+31.9%) Est. Cost $96.10 Unrealized -32.5%

LRCX LAM RESEARCH CORP 1.1%

Value ($000) $3,555 (+30.2%) Shares 20,765 (+1.8%) Est. Cost $76.64 Unrealized +102.7%

V VISA INC 1.7%

Value ($000) $5,625 (+16.5%) Shares 16,040 (+13.4%) Est. Cost $228.56 Unrealized +48.9%

NFLX NETFLIX INC 1.8%

Value ($000) $5,851 (-11.2%) Shares 62,407 (+1035.1%) Est. Cost $101.05 Unrealized +6.7%

CVS CVS HEALTH CORP 1.5%

Value ($000) $4,966 (+15.9%) Shares 62,573 (+10.1%) Est. Cost $61.03 Unrealized +28.9%

ALB ALBEMARLE CORP 0.4%

Value ($000) $1,155 (+117.3%) Shares 8,168 (+24.6%) Est. Cost $94.04 Unrealized +20.4%

UBER UBER TECHNOLOGIES INC 1.9%

Value ($000) $6,210 (+10.8%) Shares 76,003 (+32.8%) Est. Cost $75.42 Unrealized +19.4%

FTV FORTIVE CORP 0.4%

Value ($000) $1,233 (+84.5%) Shares 22,330 (+63.8%) Est. Cost $52.08 Unrealized -0.4%

ENB ENBRIDGE INC 1.1%

Value ($000) $3,655 (+16.5%) Shares 76,410 (+22.8%) Est. Cost $43.96 Unrealized +7.2%

OTIS OTIS WORLDWIDE CORP 2.5%

Value ($000) $8,082 (+6.7%) Shares 92,529 (+11.7%) Est. Cost $80.84 Unrealized +10.4%

CEG CONSTELLATION ENERGY CORP 0.4%

Value ($000) $1,396 (+56.4%) Shares 3,953 (+45.7%) Est. Cost $257.67 Unrealized +41.0%

VST VISTRA CORP 0.4%

Value ($000) $1,210 (+45.0%) Shares 7,502 (+76.1%) Est. Cost $163.01 Unrealized +11.6%

ASML ASML HOLDING N V 1.0%

Value ($000) $3,263 (+12.2%) Shares 3,050 (+1.5%) Est. Cost $667.71 Unrealized —

MSFT MICROSOFT CORP 2.6%

Value ($000) $8,283 (+3.6%) Shares 17,127 (+11.0%) Est. Cost $300.61 Unrealized +66.5%

BABA ALIBABA GROUP HLDG LTD 0.9%

Value ($000) $3,028 (-8.3%) Shares 20,655 (+11.9%) Est. Cost $98.15 Unrealized —

BTI BRITISH AMERN TOB PLC 1.1%

Value ($000) $3,647 (+7.8%) Shares 64,409 (+1.1%) Est. Cost $35.43 Unrealized —

CPNG COUPANG INC 0.9%

Value ($000) $2,832 (-7.7%) Shares 120,066 (+26.0%) Est. Cost $19.37 Unrealized +46.9%

FISV FISERV INC 1.7%

Value ($000) $5,353 (-4.0%) Shares 79,696 (+84.2%) Est. Cost $101.95 Unrealized -17.7%

CNH CNH INDL N V 0.4%

Value ($000) $1,244 (-13.7%) Shares 134,916 (+1.5%) Est. Cost $11.37 Unrealized -12.2%

RIO RIO TINTO PLC 0.3%

Value ($000) $863 (+24.9%) Shares 10,784 (+3.0%) Est. Cost $68.21 Unrealized —

G GENPACT LIMITED 0.4%

Value ($000) $1,374 (+13.3%) Shares 29,378 (+1.5%) Est. Cost $39.13 Unrealized +10.5%

SE SEA LTD 1.2%

Value ($000) $3,792 (-4.0%) Shares 29,721 (+34.5%) Est. Cost $76.85 Unrealized —

FOUR SHIFT4 PMTS INC 1.1%

Value ($000) $3,474 (+4.6%) Shares 55,171 (+28.6%) Est. Cost $91.50 Unrealized -22.8%

HDB HDFC BANK LTD 0.6%

Value ($000) $1,886 (+8.3%) Shares 51,601 (+1.2%) Est. Cost $51.37 Unrealized —

PBR PETROLEO BRASILEIRO SA PETRO 0.8%

Value ($000) $2,686 (-5.0%) Shares 226,694 (+1.5%) Est. Cost $13.31 Unrealized —

MELI MERCADOLIBRE INC 0.5%

Value ($000) $1,636 (+6.9%) Shares 812 (+24.0%) Est. Cost $1565.45 Unrealized +34.2%

RUN SUNRUN INC 0.3%

Value ($000) $1,018 (+8.3%) Shares 55,320 (+1.7%) Est. Cost $10.79 Unrealized +77.7%

ADP AUTOMATIC DATA PROCESSING IN 2.1%

Value ($000) $6,891 (+1.0%) Shares 26,790 (+15.2%) Est. Cost $220.41 Unrealized +20.2%

META META PLATFORMS INC 2.5%

Value ($000) $8,111 (+0.6%) Shares 12,287 (+12.0%) Est. Cost $293.28 Unrealized +127.5%

FLR FLUOR CORP NEW 0.3%

Value ($000) $858 (+4.0%) Shares 21,655 (+10.4%) Est. Cost $44.26 Unrealized -0.0%

KT KT CORP 0.7%

Value ($000) $2,168 (-1.5%) Shares 114,305 (+1.3%) Est. Cost $13.51 Unrealized —

PHG KONINKLIJKE PHILIPS N V 0.6%

Value ($000) $1,898 (+0.4%) Shares 70,072 (+1.1%) Est. Cost $25.22 Unrealized —

IBN ICICI BANK LIMITED 0.4%

Value ($000) $1,352 (-0.0%) Shares 45,368 (+1.4%) Est. Cost $23.75 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EQT	EQT CORP	89,874 (+532.6%)	$4,817 (+523.0%)	1.5%	$55.24	+1.6%	COM	26884L109
AMZN	AMAZON COM INC	38,310 (+19.6%)	$8,843 (+25.8%)	2.7%	$140.57	+62.8%	COM	023135106
NU	NU HLDGS LTD	290,380 (+51.8%)	$4,861 (+58.7%)	1.5%	$10.63	+51.2%	ORD SHS CL A	G6683N103
TSM	TAIWAN SEMICONDUCTOR MFG LTD	35,808 (+8.9%)	$10,882 (+18.5%)	3.4%	$164.73	—	SPONSORED ADS	874039100
YUMC	YUM CHINA HLDGS INC	56,247 (+120.8%)	$2,685 (+145.6%)	0.8%	$48.65	-5.8%	COM	98850P109
ZTS	ZOETIS INC	36,524 (+59.6%)	$4,595 (+37.3%)	1.4%	$147.25	-11.5%	CL A	98978V103
APO	APOLLO GLOBAL MGMT INC	35,811 (+12.1%)	$5,184 (+21.8%)	1.6%	$145.51	-8.9%	COM	03769M106
NVS	NOVARTIS AG	23,731 (+27.5%)	$3,272 (+37.1%)	1.0%	$119.41	—	SPONSORED ADR	66987V109
NVDA	NVIDIA CORPORATION	45,269 (+11.6%)	$8,443 (+11.5%)	2.6%	$100.99	+84.3%	COM	67066G104
NKE	NIKE INC	77,832 (+31.9%)	$4,959 (+20.5%)	1.5%	$96.10	-32.5%	CL B	654106103
LRCX	LAM RESEARCH CORP	20,765 (+1.8%)	$3,555 (+30.2%)	1.1%	$76.64	+102.7%	COM NEW	512807306
V	VISA INC	16,040 (+13.4%)	$5,625 (+16.5%)	1.7%	$228.56	+48.9%	COM CL A	92826C839
NFLX	NETFLIX INC	62,407 (+1035.1%)	$5,851 (-11.2%)	1.8%	$101.05	+6.7%	COM	64110L106
CVS	CVS HEALTH CORP	62,573 (+10.1%)	$4,966 (+15.9%)	1.5%	$61.03	+28.9%	COM	126650100
ALB	ALBEMARLE CORP	8,168 (+24.6%)	$1,155 (+117.3%)	0.4%	$94.04	+20.4%	COM	012653101
UBER	UBER TECHNOLOGIES INC	76,003 (+32.8%)	$6,210 (+10.8%)	1.9%	$75.42	+19.4%	COM	90353T100
FTV	FORTIVE CORP	22,330 (+63.8%)	$1,233 (+84.5%)	0.4%	$52.08	-0.4%	COM	34959J108
ENB	ENBRIDGE INC	76,410 (+22.8%)	$3,655 (+16.5%)	1.1%	$43.96	+7.2%	COM	29250N105
OTIS	OTIS WORLDWIDE CORP	92,529 (+11.7%)	$8,082 (+6.7%)	2.5%	$80.84	+10.4%	COM	68902V107
CEG	CONSTELLATION ENERGY CORP	3,953 (+45.7%)	$1,396 (+56.4%)	0.4%	$257.67	+41.0%	COM	21037T109
VST	VISTRA CORP	7,502 (+76.1%)	$1,210 (+45.0%)	0.4%	$163.01	+11.6%	COM	92840M102
ASML	ASML HOLDING N V	3,050 (+1.5%)	$3,263 (+12.2%)	1.0%	$667.71	—	N Y REGISTRY SHS	N07059210
MSFT	MICROSOFT CORP	17,127 (+11.0%)	$8,283 (+3.6%)	2.6%	$300.61	+66.5%	COM	594918104
BABA	ALIBABA GROUP HLDG LTD	20,655 (+11.9%)	$3,028 (-8.3%)	0.9%	$98.15	—	SPONSORED ADS	01609W102
BTI	BRITISH AMERN TOB PLC	64,409 (+1.1%)	$3,647 (+7.8%)	1.1%	$35.43	—	SPONSORED ADR	110448107
CPNG	COUPANG INC	120,066 (+26.0%)	$2,832 (-7.7%)	0.9%	$19.37	+46.9%	CL A	22266T109
FISV	FISERV INC	79,696 (+84.2%)	$5,353 (-4.0%)	1.7%	$101.95	-17.7%	COM	337738108
CNH	CNH INDL N V	134,916 (+1.5%)	$1,244 (-13.7%)	0.4%	$11.37	-12.2%	SHS	N20944109
RIO	RIO TINTO PLC	10,784 (+3.0%)	$863 (+24.9%)	0.3%	$68.21	—	SPONSORED ADR	767204100
G	GENPACT LIMITED	29,378 (+1.5%)	$1,374 (+13.3%)	0.4%	$39.13	+10.5%	SHS	G3922B107
SE	SEA LTD	29,721 (+34.5%)	$3,792 (-4.0%)	1.2%	$76.85	—	SPONSORD ADS	81141R100
FOUR	SHIFT4 PMTS INC	55,171 (+28.6%)	$3,474 (+4.6%)	1.1%	$91.50	-22.8%	CL A	82452J109
HDB	HDFC BANK LTD	51,601 (+1.2%)	$1,886 (+8.3%)	0.6%	$51.37	—	SPONSORED ADS	40415F101
PBR	PETROLEO BRASILEIRO SA PETRO	226,694 (+1.5%)	$2,686 (-5.0%)	0.8%	$13.31	—	SPONSORED ADR	71654V408
MELI	MERCADOLIBRE INC	812 (+24.0%)	$1,636 (+6.9%)	0.5%	$1565.45	+34.2%	COM	58733R102
RUN	SUNRUN INC	55,320 (+1.7%)	$1,018 (+8.3%)	0.3%	$10.79	+77.7%	COM	86771W105
ADP	AUTOMATIC DATA PROCESSING IN	26,790 (+15.2%)	$6,891 (+1.0%)	2.1%	$220.41	+20.2%	COM	053015103
META	META PLATFORMS INC	12,287 (+12.0%)	$8,111 (+0.6%)	2.5%	$293.28	+127.5%	CL A	30303M102
FLR	FLUOR CORP NEW	21,655 (+10.4%)	$858 (+4.0%)	0.3%	$44.26	-0.0%	COM	343412102
KT	KT CORP	114,305 (+1.3%)	$2,168 (-1.5%)	0.7%	$13.51	—	SPONSORED ADR	48268K101
PHG	KONINKLIJKE PHILIPS N V	70,072 (+1.1%)	$1,898 (+0.4%)	0.6%	$25.22	—	NY REGIS SHS NEW	500472303
IBN	ICICI BANK LIMITED	45,368 (+1.4%)	$1,352 (-0.0%)	0.4%	$23.75	—	ADR	45104G104

Exited Positions (11)

HPQ HP INC 1.1%

Value ($000) $3,567 Shares 130,990 Est. Cost $30.88 Unrealized -18.2%

LLY ELI LILLY & CO 0.9%

Value ($000) $3,011 Shares 3,946 Est. Cost $821.14 Unrealized +16.4%

— TOTALENERGIES SE 0.9%

Value ($000) $2,984 Shares 49,991 Est. Cost $60.94 Unrealized —

INTU INTUIT 0.9%

Value ($000) $2,833 Shares 4,148 Est. Cost $427.65 Unrealized +54.5%

NVO NOVO-NORDISK A S 0.6%

Value ($000) $2,017 Shares 36,354 Est. Cost $95.25 Unrealized —

WIX WIX COM LTD 0.3%

Value ($000) $1,121 Shares 6,310 Est. Cost $201.07 Unrealized -39.9%

XP XP INC 0.3%

Value ($000) $1,022 Shares 54,372 Est. Cost $16.18 Unrealized +8.8%

ST SENSATA TECHNOLOGIES HLDG PL 0.1%

Value ($000) $468 Shares 15,327 Est. Cost $35.80 Unrealized -10.7%

AGRO ADECOAGRO S A 0.1%

Value ($000) $424 Shares 54,030 Est. Cost $8.68 Unrealized -9.5%

CIVI CIVITAS RESOURCES INC 0.1%

Value ($000) $381 Shares 11,734 Est. Cost $58.80 Unrealized -51.5%

RAL RALLIANT CORP 0.1%

Value ($000) $315 Shares 7,210 Est. Cost $49.24 Unrealized -4.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HPQ	HP INC	130,990	$3,567	1.1%	$30.88	-18.2%	—	40434L105
LLY	ELI LILLY & CO	3,946	$3,011	0.9%	$821.14	+16.4%	—	532457108
—	TOTALENERGIES SE	49,991	$2,984	0.9%	$60.94	—	—	89151E109
INTU	INTUIT	4,148	$2,833	0.9%	$427.65	+54.5%	—	461202103
NVO	NOVO-NORDISK A S	36,354	$2,017	0.6%	$95.25	—	—	670100205
WIX	WIX COM LTD	6,310	$1,121	0.3%	$201.07	-39.9%	—	M98068105
XP	XP INC	54,372	$1,022	0.3%	$16.18	+8.8%	—	G98239109
ST	SENSATA TECHNOLOGIES HLDG PL	15,327	$468	0.1%	$35.80	-10.7%	—	G8060N102
AGRO	ADECOAGRO S A	54,030	$424	0.1%	$8.68	-9.5%	—	L00849106
CIVI	CIVITAS RESOURCES INC	11,734	$381	0.1%	$58.80	-51.5%	—	17888H103
RAL	RALLIANT CORP	7,210	$315	0.1%	$49.24	-4.8%	—	750940108

Decreased Positions (24)

TECK TECK RESOURCES LTD 0.1%

Value ($000) $412 (-91.4%) Shares 8,593 (-92.1%) Est. Cost $39.89 Unrealized +8.6%

XOM EXXON MOBIL CORP 0.3%

Value ($000) $999 (-71.1%) Shares 8,304 (-72.9%) Est. Cost $104.45 Unrealized +10.6%

VALE VALE S A 0.3%

Value ($000) $861 (-65.1%) Shares 66,062 (-70.9%) Est. Cost $13.04 Unrealized —

GOOG ALPHABET INC 2.3%

Value ($000) $7,361 (-9.9%) Shares 23,457 (-30.1%) Est. Cost $110.44 Unrealized +159.3%

APP APPLOVIN CORP 1.6%

Value ($000) $5,318 (-11.6%) Shares 7,893 (-5.8%) Est. Cost $91.24 Unrealized +590.6%

FLUT FLUTTER ENTMT PLC 1.0%

Value ($000) $3,371 (-16.6%) Shares 15,678 (-1.5%) Est. Cost $245.37 Unrealized -8.3%

TMO THERMO FISHER SCIENTIFIC INC 1.6%

Value ($000) $5,079 (+14.1%) Shares 8,765 (-4.5%) Est. Cost $484.91 Unrealized +16.5%

GLD SPDR GOLD TR 2.3%

Value ($000) $7,548 (+8.7%) Shares 19,046 (-2.5%) Est. Cost $183.45 Unrealized —

GE GE AEROSPACE 2.2%

Value ($000) $7,255 (-5.9%) Shares 23,554 (-8.1%) Est. Cost $174.68 Unrealized +72.2%

MA MASTERCARD INCORPORATED 1.6%

Value ($000) $5,295 (-6.5%) Shares 9,275 (-6.8%) Est. Cost $358.06 Unrealized +56.1%

VRT VERTIV HOLDINGS CO 0.3%

Value ($000) $1,122 (-23.2%) Shares 6,925 (-28.5%) Est. Cost $59.84 Unrealized +190.1%

MCO MOODYS CORP 1.6%

Value ($000) $5,288 (+5.2%) Shares 10,351 (-1.9%) Est. Cost $317.22 Unrealized +53.6%

NEM NEWMONT CORP 0.5%

Value ($000) $1,544 (-14.4%) Shares 15,465 (-27.7%) Est. Cost $44.25 Unrealized +103.9%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.8%

Value ($000) $5,946 (-4.1%) Shares 11,829 (-4.0%) Est. Cost $334.21 Unrealized +48.9%

CNR CORE NATURAL RESOURCES INC 1.6%

Value ($000) $5,156 (+4.0%) Shares 58,252 (-1.9%) Est. Cost $84.05 Unrealized +1.3%

SPGI S&P GLOBAL INC 1.4%

Value ($000) $4,634 (+4.5%) Shares 8,868 (-2.7%) Est. Cost $383.16 Unrealized +29.0%

TDG TRANSDIGM GROUP INC 1.1%

Value ($000) $3,690 (-4.8%) Shares 2,775 (-5.6%) Est. Cost $543.01 Unrealized +141.4%

B BARRICK MNG CORP 0.5%

Value ($000) $1,646 (+12.0%) Shares 37,787 (-15.7%) Est. Cost $19.29 Unrealized +94.0%

UBS UBS GROUP AG 1.0%

Value ($000) $3,323 (-5.0%) Shares 71,754 (-15.9%) Est. Cost $29.74 Unrealized +35.9%

BAC BANK AMERICA CORP 1.6%

Value ($000) $5,027 (+2.7%) Shares 91,399 (-3.7%) Est. Cost $42.83 Unrealized +23.0%

AA ALCOA CORP 0.3%

Value ($000) $840 (-8.8%) Shares 15,799 (-43.5%) Est. Cost $29.65 Unrealized +37.9%

SCHW SCHWAB CHARLES CORP 2.3%

Value ($000) $7,433 (+1.0%) Shares 74,395 (-3.5%) Est. Cost $66.27 Unrealized +42.9%

CPAY CORPAY INC 1.6%

Value ($000) $5,057 (+0.7%) Shares 16,804 (-3.6%) Est. Cost $286.94 Unrealized +1.2%

GEV GE VERNOVA INC 0.6%

Value ($000) $1,982 (+0.4%) Shares 3,032 (-5.6%) Est. Cost $186.39 Unrealized +226.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TECK	TECK RESOURCES LTD	8,593 (-92.1%)	$412 (-91.4%)	0.1%	$39.89	+8.6%	CL B	878742204
XOM	EXXON MOBIL CORP	8,304 (-72.9%)	$999 (-71.1%)	0.3%	$104.45	+10.6%	COM	30231G102
VALE	VALE S A	66,062 (-70.9%)	$861 (-65.1%)	0.3%	$13.04	—	SPONSORED ADS	91912E105
GOOG	ALPHABET INC	23,457 (-30.1%)	$7,361 (-9.9%)	2.3%	$110.44	+159.3%	CAP STK CL C	02079K107
APP	APPLOVIN CORP	7,893 (-5.8%)	$5,318 (-11.6%)	1.6%	$91.24	+590.6%	COM CL A	03831W108
FLUT	FLUTTER ENTMT PLC	15,678 (-1.5%)	$3,371 (-16.6%)	1.0%	$245.37	-8.3%	SHS	G3643J108
TMO	THERMO FISHER SCIENTIFIC INC	8,765 (-4.5%)	$5,079 (+14.1%)	1.6%	$484.91	+16.5%	COM	883556102
GLD	SPDR GOLD TR	19,046 (-2.5%)	$7,548 (+8.7%)	2.3%	$183.45	—	GOLD SHS	78463V107
GE	GE AEROSPACE	23,554 (-8.1%)	$7,255 (-5.9%)	2.2%	$174.68	+72.2%	COM NEW	369604301
MA	MASTERCARD INCORPORATED	9,275 (-6.8%)	$5,295 (-6.5%)	1.6%	$358.06	+56.1%	CL A	57636Q104
VRT	VERTIV HOLDINGS CO	6,925 (-28.5%)	$1,122 (-23.2%)	0.3%	$59.84	+190.1%	COM CL A	92537N108
MCO	MOODYS CORP	10,351 (-1.9%)	$5,288 (+5.2%)	1.6%	$317.22	+53.6%	COM	615369105
NEM	NEWMONT CORP	15,465 (-27.7%)	$1,544 (-14.4%)	0.5%	$44.25	+103.9%	COM	651639106
BRK/B	BERKSHIRE HATHAWAY INC DEL	11,829 (-4.0%)	$5,946 (-4.1%)	1.8%	$334.21	+48.9%	CL B NEW	084670702
CNR	CORE NATURAL RESOURCES INC	58,252 (-1.9%)	$5,156 (+4.0%)	1.6%	$84.05	+1.3%	COM SHS	218937100
SPGI	S&P GLOBAL INC	8,868 (-2.7%)	$4,634 (+4.5%)	1.4%	$383.16	+29.0%	COM	78409V104
TDG	TRANSDIGM GROUP INC	2,775 (-5.6%)	$3,690 (-4.8%)	1.1%	$543.01	+141.4%	COM	893641100
B	BARRICK MNG CORP	37,787 (-15.7%)	$1,646 (+12.0%)	0.5%	$19.29	+94.0%	COM SHS	06849F108
UBS	UBS GROUP AG	71,754 (-15.9%)	$3,323 (-5.0%)	1.0%	$29.74	+35.9%	SHS	H42097107
BAC	BANK AMERICA CORP	91,399 (-3.7%)	$5,027 (+2.7%)	1.6%	$42.83	+23.0%	COM	060505104
AA	ALCOA CORP	15,799 (-43.5%)	$840 (-8.8%)	0.3%	$29.65	+37.9%	COM	013872106
SCHW	SCHWAB CHARLES CORP	74,395 (-3.5%)	$7,433 (+1.0%)	2.3%	$66.27	+42.9%	COM	808513105
CPAY	CORPAY INC	16,804 (-3.6%)	$5,057 (+0.7%)	1.6%	$286.94	+1.2%	COM SHS	219948106
GEV	GE VERNOVA INC	3,032 (-5.6%)	$1,982 (+0.4%)	0.6%	$186.39	+226.8%	COM	36828A101

Unchanged Positions (19)

PGR PROGRESSIVE CORP 1.5%

Value ($000) $4,939 Shares 21,688 Est. Cost $245.29 Unrealized -13.4%

HLT HILTON WORLDWIDE HLDGS INC 1.4%

Value ($000) $4,544 Shares 15,820 Est. Cost $270.09 Unrealized +0.8%

SQM SOCIEDAD QUIMICA Y MINERA DE 0.3%

Value ($000) $1,090 Shares 15,840 Est. Cost $41.16 Unrealized —

ACGL ARCH CAP GROUP LTD 1.9%

Value ($000) $6,076 Shares 63,344 Est. Cost $79.56 Unrealized +15.0%

GLNG GOLAR LNG LTD 1.1%

Value ($000) $3,441 Shares 92,479 Est. Cost $22.17 Unrealized +71.9%

FCX FREEPORT-MCMORAN INC 0.3%

Value ($000) $1,034 Shares 20,365 Est. Cost $37.78 Unrealized +14.7%

ETN EATON CORP PLC 0.4%

Value ($000) $1,330 Shares 4,177 Est. Cost $260.68 Unrealized +35.9%

TLN TALEN ENERGY CORP 0.5%

Value ($000) $1,637 Shares 4,367 Est. Cost $195.05 Unrealized +99.3%

CRH CRH PLC 1.5%

Value ($000) $4,720 Shares 37,820 Est. Cost $82.94 Unrealized +43.6%

KOS KOSMOS ENERGY LTD 0.1%

Value ($000) $247 Shares 271,878 Est. Cost $4.54 Unrealized -71.0%

LNG CHENIERE ENERGY INC 0.3%

Value ($000) $851 Shares 4,380 Est. Cost $163.93 Unrealized +28.1%

CP CANADIAN PACIFIC KANSAS CITY 2.2%

Value ($000) $7,131 Shares 96,838 Est. Cost $76.58 Unrealized -3.9%

NEE NEXTERA ENERGY INC 0.4%

Value ($000) $1,137 Shares 14,164 Est. Cost $67.99 Unrealized +21.3%

CLF CLEVELAND-CLIFFS INC NEW 0.2%

Value ($000) $798 Shares 60,115 Est. Cost $12.05 Unrealized +4.8%

EXE EXPAND ENERGY CORPORATION 0.5%

Value ($000) $1,459 Shares 13,219 Est. Cost $80.40 Unrealized +37.6%

PM PHILIP MORRIS INTL INC 2.1%

Value ($000) $6,779 Shares 42,265 Est. Cost $82.52 Unrealized +86.1%

AES AES CORP 0.2%

Value ($000) $506 Shares 35,279 Est. Cost $17.14 Unrealized -18.1%

QUAL ISHARES TR 0.4%

Value ($000) $1,207 Shares 6,078 Est. Cost $146.11 Unrealized —

CVE CENOVUS ENERGY INC 0.2%

Value ($000) $505 Shares 29,854 Est. Cost $17.29 Unrealized +0.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PGR	PROGRESSIVE CORP	21,688	$4,939	1.5%	$245.29	-13.4%	COM	743315103
HLT	HILTON WORLDWIDE HLDGS INC	15,820	$4,544	1.4%	$270.09	+0.8%	COM	43300A203
SQM	SOCIEDAD QUIMICA Y MINERA DE	15,840	$1,090	0.3%	$41.16	—	SPON ADR SER B	833635105
ACGL	ARCH CAP GROUP LTD	63,344	$6,076	1.9%	$79.56	+15.0%	ORD	G0450A105
GLNG	GOLAR LNG LTD	92,479	$3,441	1.1%	$22.17	+71.9%	SHS	G9456A100
FCX	FREEPORT-MCMORAN INC	20,365	$1,034	0.3%	$37.78	+14.7%	CL B	35671D857
ETN	EATON CORP PLC	4,177	$1,330	0.4%	$260.68	+35.9%	SHS	G29183103
TLN	TALEN ENERGY CORP	4,367	$1,637	0.5%	$195.05	+99.3%	COM	87422Q109
CRH	CRH PLC	37,820	$4,720	1.5%	$82.94	+43.6%	ORD	G25508105
KOS	KOSMOS ENERGY LTD	271,878	$247	0.1%	$4.54	-71.0%	COM	500688106
LNG	CHENIERE ENERGY INC	4,380	$851	0.3%	$163.93	+28.1%	COM NEW	16411R208
CP	CANADIAN PACIFIC KANSAS CITY	96,838	$7,131	2.2%	$76.58	-3.9%	COM	13646K108
NEE	NEXTERA ENERGY INC	14,164	$1,137	0.4%	$67.99	+21.3%	COM	65339F101
CLF	CLEVELAND-CLIFFS INC NEW	60,115	$798	0.2%	$12.05	+4.8%	COM	185899101
EXE	EXPAND ENERGY CORPORATION	13,219	$1,459	0.5%	$80.40	+37.6%	COM	165167735
PM	PHILIP MORRIS INTL INC	42,265	$6,779	2.1%	$82.52	+86.1%	COM	718172109
AES	AES CORP	35,279	$506	0.2%	$17.14	-18.1%	COM	00130H105
QUAL	ISHARES TR	6,078	$1,207	0.4%	$146.11	—	MSCI USA QLT FCT	46432F339
CVE	CENOVUS ENERGY INC	29,854	$505	0.2%	$17.29	+0.5%	COM	15135U109