Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	CME GRP INC	11,905	$2.629M	0.3%	$220.83	—	COM	12572q105
—	ETF SPDR SP 500	1,351	$1.009M	0.1%	$746.86	—	TR UNIT	78462f103
LUV	SOUTHWEST AIRLS CO	6,521	$335K	0.0%	$51.42	—	COM	844741108
—	TESLA MOTORS	631	$265K	0.0%	$420.60	—	COM	88160r101
EMR	EMERSON ELEC CO	1,567	$224K	0.0%	$143.15	—	COM	291011104

Increased Positions (6)

— NETFLIX INC 1.8%

Value $13.96M (+2403.1%) Shares 195,507 (+3270.8%) Est. Cost $73.23 Unrealized —

— ZOETIS INC CLASS 4.7%

Value $35.82M (+32.7%) Shares 498,426 (+118.3%) Est. Cost $100.11 Unrealized —

— MASTERCARD INC 6.8%

Value $51.08M (+3.8%) Shares 99,456 (+1.0%) Est. Cost $427.37 Unrealized —

STEL STELLAR BANCORP INC 0.2%

Value $1.365M (+430.2%) Shares 34,720 (+393.7%) Est. Cost $37.63 Unrealized —

— IDEXX LABS INC 2.4%

Value $18.32M (-5.0%) Shares 34,801 (+1.4%) Est. Cost $548.02 Unrealized —

— ALIBABA GRP 0.4%

Value $2.921M (-9.2%) Shares 30,431 (+18.7%) Est. Cost $81.62 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	NETFLIX INC	195,507 (+3270.8%)	$13.96M (+2403.1%)	1.8%	$73.23	—	COM	64110l106
—	ZOETIS INC CLASS	498,426 (+118.3%)	$35.82M (+32.7%)	4.7%	$100.11	—	CL A	98978v103
—	MASTERCARD INC	99,456 (+1.0%)	$51.08M (+3.8%)	6.8%	$427.37	—	CL A	57636q104
STEL	STELLAR BANCORP INC	34,720 (+393.7%)	$1.365M (+430.2%)	0.2%	$37.63	—	COM	858927106
—	IDEXX LABS INC	34,801 (+1.4%)	$18.32M (-5.0%)	2.4%	$548.02	—	COM	45168d104
—	ALIBABA GRP	30,431 (+18.7%)	$2.921M (-9.2%)	0.4%	$81.62	—	SPONSORED ADS	01609w102

Exited Positions (6)

ADYEY ADYEN NV 1.7%

Value $12.62M Shares 1,265,437 Est. Cost $9.97 Unrealized —

LVMUY LVMH MOET 1.5%

Value $11.3M Shares 103,466 Est. Cost $122.40 Unrealized —

NSRGY NESTLE ADR 0.4%

Value $3.025M Shares 30,523 Est. Cost $80.94 Unrealized —

PEP PEPSICO INC 0.1%

Value $696K Shares 4,481 Est. Cost $87.15 Unrealized —

F FORD MOTOR CO 0.0%

Value $17,899 Shares 1,551 Est. Cost $13.74 Unrealized —

— PROVECTUS BIO 0.0%

Value $1,018 Shares 20,000 Est. Cost $0.10 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ADYEY	ADYEN NV	1,265,437	$12.62M	1.7%	$9.97	—	—	00783V104
LVMUY	LVMH MOET	103,466	$11.3M	1.5%	$122.40	—	—	502441306
NSRGY	NESTLE ADR	30,523	$3.025M	0.4%	$80.94	—	—	641069406
PEP	PEPSICO INC	4,481	$696K	0.1%	$87.15	—	—	713448108
F	FORD MOTOR CO	1,551	$17,899	0.0%	$13.74	—	—	345370860
—	PROVECTUS BIO	20,000	$1,018	0.0%	$0.10	—	—	74373p108

Decreased Positions (9)

TSM TAIWAN SEMICONDUCTOR MANUFAC 9.4%

Value $70.97M (+39.9%) Shares 148,602 (-1.0%) Est. Cost $133.27 Unrealized —

— POOL CORP 1.7%

Value $13.02M (-47.7%) Shares 60,608 (-50.8%) Est. Cost $240.26 Unrealized —

AAPL APPLE INC 10.5%

Value $79.1M (+12.8%) Shares 273,364 (-1.1%) Est. Cost $143.79 Unrealized —

— ALPHABET A 7.4%

Value $55.62M (+19.2%) Shares 155,648 (-4.1%) Est. Cost $139.69 Unrealized —

AMZN AMAZON COM INC 7.8%

Value $58.68M (+9.6%) Shares 246,188 (-4.3%) Est. Cost $120.36 Unrealized —

NVO NOVO-NORDISK A S 3.0%

Value $22.97M (-13.1%) Shares 479,184 (-33.4%) Est. Cost $56.91 Unrealized —

— META PLATFORMS 6.3%

Value $47.83M (-4.8%) Shares 84,919 (-3.3%) Est. Cost $360.87 Unrealized —

— EXXON MOBIL 0.8%

Value $6.118M (-20.5%) Shares 44,751 (-1.4%) Est. Cost $110.14 Unrealized —

MSFT MICROSOFT CORP 6.1%

Value $45.81M (-2.8%) Shares 122,816 (-3.6%) Est. Cost $272.43 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MANUFAC	148,602 (-1.0%)	$70.97M (+39.9%)	9.4%	$133.27	—	SPONSORED ADS	874039100
—	POOL CORP	60,608 (-50.8%)	$13.02M (-47.7%)	1.7%	$240.26	—	COM	73278l105
AAPL	APPLE INC	273,364 (-1.1%)	$79.1M (+12.8%)	10.5%	$143.79	—	COM	037833100
—	ALPHABET A	155,648 (-4.1%)	$55.62M (+19.2%)	7.4%	$139.69	—	CAP STK CL A	02079k305
AMZN	AMAZON COM INC	246,188 (-4.3%)	$58.68M (+9.6%)	7.8%	$120.36	—	COM	023135106
NVO	NOVO-NORDISK A S	479,184 (-33.4%)	$22.97M (-13.1%)	3.0%	$56.91	—	ADR	670100205
—	META PLATFORMS	84,919 (-3.3%)	$47.83M (-4.8%)	6.3%	$360.87	—	CL A	30303m102
—	EXXON MOBIL	44,751 (-1.4%)	$6.118M (-20.5%)	0.8%	$110.14	—	COM	30231g102
MSFT	MICROSOFT CORP	122,816 (-3.6%)	$45.81M (-2.8%)	6.1%	$272.43	—	COM	594918104

Unchanged Positions (16)

— ALPHABET C 9.3%

Value $70.33M Shares 199,040 Est. Cost $140.93 Unrealized —

— UNITEDHEALTH 4.7%

Value $35.31M Shares 84,959 Est. Cost $312.47 Unrealized —

— PRIMERICA INC 4.9%

Value $36.88M Shares 129,764 Est. Cost $99.63 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 6.9%

Value $52.54M Shares 105,008 Est. Cost $212.20 Unrealized —

C CITIGROUP INC 1.0%

Value $7.838M Shares 56,000 Est. Cost $59.19 Unrealized —

— SP GLOBAL INC 2.2%

Value $16.75M Shares 41,117 Est. Cost $435.80 Unrealized —

GLW CORNING INC 0.2%

Value $1.332M Shares 5,215 Est. Cost $46.35 Unrealized —

TRV TRAVELERS COMPANIES INC 0.4%

Value $3.175M Shares 9,617 Est. Cost $211.74 Unrealized —

— VISA INC CLASS A 0.1%

Value $864K Shares 2,519 Est. Cost $315.28 Unrealized —

HBAN HUNTINGTON BANCSHARES INC 0.1%

Value $919K Shares 51,851 Est. Cost $17.89 Unrealized —

CVX CHEVRON CORPORATION 0.0%

Value $289K Shares 1,745 Est. Cost $145.50 Unrealized —

— NEXTERA ENGY 0.1%

Value $616K Shares 7,016 Est. Cost $77.26 Unrealized —

— MERCK & CO. INC. 0.0%

Value $317K Shares 2,469 Est. Cost $99.48 Unrealized —

BHC BAUSCH HEALTH COS INC 0.0%

Value $208K Shares 42,288 Est. Cost $21.68 Unrealized —

JNJ JOHNSON & JOHNSON 0.1%

Value $463K Shares 1,823 Est. Cost $149.59 Unrealized —

— RTX CORP 0.0%

Value $371K Shares 1,956 Est. Cost $115.72 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	ALPHABET C	199,040	$70.33M	9.3%	$140.93	—	CAP STK CL C	02079k107
—	UNITEDHEALTH	84,959	$35.31M	4.7%	$312.47	—	COM	91324p102
—	PRIMERICA INC	129,764	$36.88M	4.9%	$99.63	—	COM	74164m108
BRK/B	BERKSHIRE HATHAWAY INC DEL	105,008	$52.54M	6.9%	$212.20	—	CL B NEW	084670702
C	CITIGROUP INC	56,000	$7.838M	1.0%	$59.19	—	COM NEW	172967424
—	SP GLOBAL INC	41,117	$16.75M	2.2%	$435.80	—	COM	78409v104
GLW	CORNING INC	5,215	$1.332M	0.2%	$46.35	—	COM	219350105
TRV	TRAVELERS COMPANIES INC	9,617	$3.175M	0.4%	$211.74	—	COM	89417E109
—	VISA INC CLASS A	2,519	$864K	0.1%	$315.28	—	COM CL A	92826c839
HBAN	HUNTINGTON BANCSHARES INC	51,851	$919K	0.1%	$17.89	—	COM	446150104
CVX	CHEVRON CORPORATION	1,745	$289K	0.0%	$145.50	—	COM	166764100
—	NEXTERA ENGY	7,016	$616K	0.1%	$77.26	—	COM	65339f101
—	MERCK & CO. INC.	2,469	$317K	0.0%	$99.48	—	COM	58933y105
BHC	BAUSCH HEALTH COS INC	42,288	$208K	0.0%	$21.68	—	COM	071734107
JNJ	JOHNSON & JOHNSON	1,823	$463K	0.1%	$149.59	—	COM	478160104
—	RTX CORP	1,956	$371K	0.0%	$115.72	—	COM	75513e101