ADAMS DIVERSIFIED EQUITY FUND, INC. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SCHW	Charles Schwab Corp.	237,000	$23,679	0.8%	$94.74	0.0%	COM	808513105
GILD	Gilead Sciences, Inc.	177,100	$21,737	0.7%	$120.88	0.0%	COM	375558103
ROK	Rockwell Automation, Inc.	48,900	$19,026	0.6%	$375.21	0.0%	COM	773903109
FDX	FedEx Corporation	65,500	$18,920	0.6%	$261.56	0.0%	COM	31428X106
DG	Dollar General Corporation	138,400	$18,375	0.6%	$111.51	0.0%	COM	256677105
EME	EMCOR Group, Inc.	28,000	$17,130	0.6%	$647.50	0.0%	COM	29084Q100
TTWO	Take-Two Interactive Software, Inc.	53,200	$13,621	0.5%	$249.31	0.0%	COM	874054109
NEE	NextEra Energy, Inc.	163,300	$13,110	0.4%	$82.50	0.0%	COM	65339F101
XLK	State Street Technology Select Sector SPDR ETF	62,800	$9,041	0.3%	$143.97	—	COM	81369Y803
BIIB	Biogen Inc.	44,300	$7,796	0.3%	$163.37	0.0%	COM	09062X103
APP	AppLovin Corp. Class A	6,400	$4,312	0.1%	$630.10	0.0%	COM	03831W108
COIN	Coinbase Global, Inc. Class A	16,000	$3,618	0.1%	$297.98	0.0%	COM	19260Q107

Increased Positions (19)

LLY Eli Lilly and Company 1.8%

Value ($000) $55,204 (+72.4%) Shares 51,368 (+22.4%) Est. Cost $362.78 Unrealized +163.4%

NFLX Netflix, Inc. 0.7%

Value ($000) $20,742 (-50.3%) Shares 221,220 (+535.3%) Est. Cost $96.37 Unrealized +11.9%

CVS CVS Health Corporation 0.9%

Value ($000) $27,879 (+190.0%) Shares 351,300 (+175.5%) Est. Cost $74.74 Unrealized +5.3%

AMZN Amazon.com, Inc. 4.2%

Value ($000) $126,836 (+10.5%) Shares 549,500 (+5.1%) Est. Cost $128.47 Unrealized +78.1%

TKO TKO Group Holdings, Inc. Class A 0.6%

Value ($000) $18,497 (+68.7%) Shares 88,500 (+63.0%) Est. Cost $172.51 Unrealized +12.3%

FCX Freeport-McMoRan, Inc. 0.5%

Value ($000) $15,323 (+95.9%) Shares 301,700 (+51.3%) Est. Cost $40.88 Unrealized +6.0%

LHX L3Harris Technologies, Inc. 0.6%

Value ($000) $19,199 (+49.3%) Shares 65,400 (+55.3%) Est. Cost $277.45 Unrealized +4.0%

JCI Johnson Controls International plc 0.8%

Value ($000) $23,830 (+26.7%) Shares 199,000 (+16.4%) Est. Cost $107.98 Unrealized +6.3%

GEV GE Vernova Inc. 1.0%

Value ($000) $29,999 (+19.9%) Shares 45,900 (+12.8%) Est. Cost $437.84 Unrealized +39.1%

LECO Lincoln Electric Holdings, Inc. 0.8%

Value ($000) $23,892 (+25.1%) Shares 99,700 (+23.1%) Est. Cost $234.68 Unrealized +0.9%

CRM Salesforce, Inc. 0.6%

Value ($000) $17,405 (+33.5%) Shares 65,700 (+19.5%) Est. Cost $250.26 Unrealized -0.8%

TMUS T-Mobile US, Inc. 0.7%

Value ($000) $20,365 (-12.2%) Shares 100,300 (+3.5%) Est. Cost $177.99 Unrealized +18.7%

LW Lamb Weston Holdings, Inc. 0.3%

Value ($000) $7,766 (+43.9%) Shares 185,400 (+99.6%) Est. Cost $56.46 Unrealized +4.0%

JPM JPMorgan Chase & Co. 2.2%

Value ($000) $66,655 (+3.7%) Shares 206,863 (+1.5%) Est. Cost $122.83 Unrealized +152.0%

AIG American International Group, Inc. 0.7%

Value ($000) $21,815 (+11.9%) Shares 255,000 (+2.7%) Est. Cost $60.68 Unrealized +31.3%

MCO Moody's Corporation 0.7%

Value ($000) $21,762 (+10.1%) Shares 42,600 (+2.7%) Est. Cost $502.24 Unrealized -3.0%

— Adams Natural Resources Fund, Inc. 1.9%

Value ($000) $55,930 (+3.3%) Shares 2,572,684 (+2.3%) Est. Cost $22.98 Unrealized —

MTB M&T Bank Corporation 0.7%

Value ($000) $19,664 (+6.3%) Shares 97,600 (+4.3%) Est. Cost $193.56 Unrealized -1.8%

PANW Palo Alto Networks, Inc. 0.7%

Value ($000) $21,404 (-2.5%) Shares 116,200 (+7.8%) Est. Cost $187.00 Unrealized +7.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	Eli Lilly and Company	51,368 (+22.4%)	$55,204 (+72.4%)	1.8%	$362.78	+163.4%	COM	532457108
NFLX	Netflix, Inc.	221,220 (+535.3%)	$20,742 (-50.3%)	0.7%	$96.37	+11.9%	COM	64110L106
CVS	CVS Health Corporation	351,300 (+175.5%)	$27,879 (+190.0%)	0.9%	$74.74	+5.3%	COM	126650100
AMZN	Amazon.com, Inc.	549,500 (+5.1%)	$126,836 (+10.5%)	4.2%	$128.47	+78.1%	COM	023135106
TKO	TKO Group Holdings, Inc. Class A	88,500 (+63.0%)	$18,497 (+68.7%)	0.6%	$172.51	+12.3%	COM	87256C101
FCX	Freeport-McMoRan, Inc.	301,700 (+51.3%)	$15,323 (+95.9%)	0.5%	$40.88	+6.0%	COM	35671D857
LHX	L3Harris Technologies, Inc.	65,400 (+55.3%)	$19,199 (+49.3%)	0.6%	$277.45	+4.0%	COM	502431109
JCI	Johnson Controls International plc	199,000 (+16.4%)	$23,830 (+26.7%)	0.8%	$107.98	+6.3%	COM	G51502105
GEV	GE Vernova Inc.	45,900 (+12.8%)	$29,999 (+19.9%)	1.0%	$437.84	+39.1%	COM	36828A101
LECO	Lincoln Electric Holdings, Inc.	99,700 (+23.1%)	$23,892 (+25.1%)	0.8%	$234.68	+0.9%	COM	533900106
CRM	Salesforce, Inc.	65,700 (+19.5%)	$17,405 (+33.5%)	0.6%	$250.26	-0.8%	COM	79466L302
TMUS	T-Mobile US, Inc.	100,300 (+3.5%)	$20,365 (-12.2%)	0.7%	$177.99	+18.7%	COM	872590104
LW	Lamb Weston Holdings, Inc.	185,400 (+99.6%)	$7,766 (+43.9%)	0.3%	$56.46	+4.0%	COM	513272104
JPM	JPMorgan Chase & Co.	206,863 (+1.5%)	$66,655 (+3.7%)	2.2%	$122.83	+152.0%	COM	46625H100
AIG	American International Group, Inc.	255,000 (+2.7%)	$21,815 (+11.9%)	0.7%	$60.68	+31.3%	COM	026874784
MCO	Moody's Corporation	42,600 (+2.7%)	$21,762 (+10.1%)	0.7%	$502.24	-3.0%	COM	615369105
—	Adams Natural Resources Fund, Inc.	2,572,684 (+2.3%)	$55,930 (+3.3%)	1.9%	$22.98	—	COM	00548F105
MTB	M&T Bank Corporation	97,600 (+4.3%)	$19,664 (+6.3%)	0.7%	$193.56	-1.8%	COM	55261F104
PANW	Palo Alto Networks, Inc.	116,200 (+7.8%)	$21,404 (-2.5%)	0.7%	$187.00	+7.9%	COM	697435105

Exited Positions (16)

BA Boeing Company 1.0%

Value ($000) $29,202 Shares 135,300 Est. Cost $192.86 Unrealized +6.6%

PGR Progressive Corporation 0.7%

Value ($000) $21,238 Shares 86,000 Est. Cost $254.41 Unrealized -16.5%

BSX Boston Scientific Corporation 0.7%

Value ($000) $20,864 Shares 213,700 Est. Cost $78.83 Unrealized +24.4%

RTX RTX Corporation 0.6%

Value ($000) $17,319 Shares 103,500 Est. Cost $103.72 Unrealized +67.1%

CARR Carrier Global Corporation 0.6%

Value ($000) $16,549 Shares 277,200 Est. Cost $71.24 Unrealized -22.1%

SYY Sysco Corporation 0.5%

Value ($000) $15,603 Shares 189,500 Est. Cost $71.17 Unrealized +6.1%

ES Eversource Energy 0.5%

Value ($000) $15,295 Shares 215,000 Est. Cost $59.90 Unrealized +16.1%

VRTX Vertex Pharmaceuticals Incorporated 0.5%

Value ($000) $13,747 Shares 35,100 Est. Cost $480.37 Unrealized -10.3%

PODD Insulet Corporation 0.4%

Value ($000) $12,565 Shares 40,700 Est. Cost $270.64 Unrealized +15.5%

TEAM Atlassian Corporation Class A 0.4%

Value ($000) $12,185 Shares 76,300 Est. Cost $248.86 Unrealized -36.9%

CI Cigna Group 0.4%

Value ($000) $11,588 Shares 40,200 Est. Cost $334.20 Unrealized -16.4%

AXON Axon Enterprise Inc. 0.4%

Value ($000) $10,549 Shares 14,700 Est. Cost $758.81 Unrealized -18.2%

PHM PulteGroup, Inc. 0.2%

Value ($000) $7,069 Shares 53,500 Est. Cost $123.78 Unrealized -1.1%

SPOT Spotify Technology SA 0.2%

Value ($000) $6,352 Shares 9,100 Est. Cost $641.84 Unrealized -2.6%

CL Colgate-Palmolive Company 0.2%

Value ($000) $5,780 Shares 72,300 Est. Cost $75.79 Unrealized +3.3%

XLB Materials Select Sector SPDR Fund 0.2%

Value ($000) $4,589 Shares 51,200 Est. Cost $89.62 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BA	Boeing Company	135,300	$29,202	1.0%	$192.86	+6.6%	—	097023105
PGR	Progressive Corporation	86,000	$21,238	0.7%	$254.41	-16.5%	—	743315103
BSX	Boston Scientific Corporation	213,700	$20,864	0.7%	$78.83	+24.4%	—	101137107
RTX	RTX Corporation	103,500	$17,319	0.6%	$103.72	+67.1%	—	75513E101
CARR	Carrier Global Corporation	277,200	$16,549	0.6%	$71.24	-22.1%	—	14448C104
SYY	Sysco Corporation	189,500	$15,603	0.5%	$71.17	+6.1%	—	871829107
ES	Eversource Energy	215,000	$15,295	0.5%	$59.90	+16.1%	—	30040W108
VRTX	Vertex Pharmaceuticals Incorporated	35,100	$13,747	0.5%	$480.37	-10.3%	—	92532F100
PODD	Insulet Corporation	40,700	$12,565	0.4%	$270.64	+15.5%	—	45784P101
TEAM	Atlassian Corporation Class A	76,300	$12,185	0.4%	$248.86	-36.9%	—	049468101
CI	Cigna Group	40,200	$11,588	0.4%	$334.20	-16.4%	—	125523100
AXON	Axon Enterprise Inc.	14,700	$10,549	0.4%	$758.81	-18.2%	—	05464C101
PHM	PulteGroup, Inc.	53,500	$7,069	0.2%	$123.78	-1.1%	—	745867101
SPOT	Spotify Technology SA	9,100	$6,352	0.2%	$641.84	-2.6%	—	L8681T102
CL	Colgate-Palmolive Company	72,300	$5,780	0.2%	$75.79	+3.3%	—	194162103
XLB	Materials Select Sector SPDR Fund	51,200	$4,589	0.2%	$89.62	—	—	81369Y100

Decreased Positions (24)

MSFT Microsoft Corporation 6.6%

Value ($000) $199,300 (-9.3%) Shares 412,100 (-2.9%) Est. Cost $63.86 Unrealized +683.8%

META Meta Platforms, Inc. Class A 2.5%

Value ($000) $75,646 (-16.6%) Shares 114,600 (-7.2%) Est. Cost $219.12 Unrealized +204.5%

LRCX Lam Research Corporation 1.5%

Value ($000) $46,510 (+24.9%) Shares 271,700 (-2.3%) Est. Cost $74.98 Unrealized +107.2%

ORCL Oracle Corporation 0.5%

Value ($000) $16,509 (-31.6%) Shares 84,700 (-1.3%) Est. Cost $125.30 Unrealized +90.0%

NVDA NVIDIA Corporation 7.9%

Value ($000) $238,459 (-2.8%) Shares 1,278,600 (-2.8%) Est. Cost $92.79 Unrealized +100.6%

MA Mastercard Incorporated Class A 0.9%

Value ($000) $26,353 (-19.5%) Shares 46,162 (-19.8%) Est. Cost $365.98 Unrealized +52.7%

UBER Uber Technologies, Inc. 0.9%

Value ($000) $27,994 (-18.3%) Shares 342,600 (-2.0%) Est. Cost $43.68 Unrealized +106.1%

HD Home Depot, Inc. 0.9%

Value ($000) $27,184 (-16.9%) Shares 79,000 (-2.1%) Est. Cost $323.79 Unrealized +12.6%

BRK/B Berkshire Hathaway Inc. Class B 1.4%

Value ($000) $42,144 (-9.9%) Shares 83,843 (-9.9%) Est. Cost $297.13 Unrealized +67.4%

ORLY O'Reilly Automotive, Inc. 0.6%

Value ($000) $19,300 (-17.7%) Shares 211,600 (-2.7%) Est. Cost $87.16 Unrealized +12.1%

ANET Arista Networks, Inc. 0.9%

Value ($000) $26,673 (-12.3%) Shares 203,564 (-2.4%) Est. Cost $102.84 Unrealized +33.9%

WMT Walmart Inc. 1.3%

Value ($000) $38,731 (+6.4%) Shares 347,643 (-1.6%) Est. Cost $51.98 Unrealized +106.2%

PM Philip Morris International Inc. 1.1%

Value ($000) $32,952 (-5.5%) Shares 205,435 (-4.4%) Est. Cost $81.47 Unrealized +88.5%

BAC Bank of America Corp. 1.6%

Value ($000) $49,278 (+4.0%) Shares 895,968 (-2.5%) Est. Cost $27.21 Unrealized +93.6%

CVX Chevron Corporation 0.9%

Value ($000) $25,990 (-6.1%) Shares 170,527 (-4.4%) Est. Cost $145.96 Unrealized +3.7%

POST Post Holdings, Inc. 0.3%

Value ($000) $10,430 (-12.6%) Shares 105,300 (-5.1%) Est. Cost $112.12 Unrealized -7.7%

PEP PepsiCo, Inc. 0.2%

Value ($000) $5,536 (-17.5%) Shares 38,576 (-19.3%) Est. Cost $59.22 Unrealized +146.4%

BKNG Booking Holdings Inc. 1.0%

Value ($000) $29,454 (-2.6%) Shares 5,500 (-1.8%) Est. Cost $2280.82 Unrealized +125.3%

ETR Entergy Corporation 0.6%

Value ($000) $19,096 (-3.8%) Shares 206,600 (-3.0%) Est. Cost $67.96 Unrealized +39.1%

XLV State Street Health Care Select Sector SPDR ETF 0.7%

Value ($000) $20,619 (+2.7%) Shares 133,200 (-7.7%) Est. Cost $143.24 Unrealized —

GE GE Aerospace 1.5%

Value ($000) $44,664 (-1.1%) Shares 145,000 (-3.5%) Est. Cost $201.37 Unrealized +49.4%

CCK Crown Holdings, Inc. 0.5%

Value ($000) $14,869 (+2.4%) Shares 144,400 (-4.0%) Est. Cost $91.82 Unrealized +6.0%

CBRE CBRE Group, Inc. Class A 0.5%

Value ($000) $15,179 (-1.9%) Shares 94,400 (-3.9%) Est. Cost $77.74 Unrealized +102.2%

V Visa Inc. Class A 1.3%

Value ($000) $39,722 (-0.4%) Shares 113,261 (-3.1%) Est. Cost $87.67 Unrealized +288.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corporation	412,100 (-2.9%)	$199,300 (-9.3%)	6.6%	$63.86	+683.8%	COM	594918104
META	Meta Platforms, Inc. Class A	114,600 (-7.2%)	$75,646 (-16.6%)	2.5%	$219.12	+204.5%	COM	30303M102
LRCX	Lam Research Corporation	271,700 (-2.3%)	$46,510 (+24.9%)	1.5%	$74.98	+107.2%	COM	512807306
ORCL	Oracle Corporation	84,700 (-1.3%)	$16,509 (-31.6%)	0.5%	$125.30	+90.0%	COM	68389X105
NVDA	NVIDIA Corporation	1,278,600 (-2.8%)	$238,459 (-2.8%)	7.9%	$92.79	+100.6%	COM	67066G104
MA	Mastercard Incorporated Class A	46,162 (-19.8%)	$26,353 (-19.5%)	0.9%	$365.98	+52.7%	COM	57636Q104
UBER	Uber Technologies, Inc.	342,600 (-2.0%)	$27,994 (-18.3%)	0.9%	$43.68	+106.1%	COM	90353T100
HD	Home Depot, Inc.	79,000 (-2.1%)	$27,184 (-16.9%)	0.9%	$323.79	+12.6%	COM	437076102
BRK/B	Berkshire Hathaway Inc. Class B	83,843 (-9.9%)	$42,144 (-9.9%)	1.4%	$297.13	+67.4%	COM	084670702
ORLY	O'Reilly Automotive, Inc.	211,600 (-2.7%)	$19,300 (-17.7%)	0.6%	$87.16	+12.1%	COM	67103H107
ANET	Arista Networks, Inc.	203,564 (-2.4%)	$26,673 (-12.3%)	0.9%	$102.84	+33.9%	COM	040413205
WMT	Walmart Inc.	347,643 (-1.6%)	$38,731 (+6.4%)	1.3%	$51.98	+106.2%	COM	931142103
PM	Philip Morris International Inc.	205,435 (-4.4%)	$32,952 (-5.5%)	1.1%	$81.47	+88.5%	COM	718172109
BAC	Bank of America Corp.	895,968 (-2.5%)	$49,278 (+4.0%)	1.6%	$27.21	+93.6%	COM	060505104
CVX	Chevron Corporation	170,527 (-4.4%)	$25,990 (-6.1%)	0.9%	$145.96	+3.7%	COM	166764100
POST	Post Holdings, Inc.	105,300 (-5.1%)	$10,430 (-12.6%)	0.3%	$112.12	-7.7%	COM	737446104
PEP	PepsiCo, Inc.	38,576 (-19.3%)	$5,536 (-17.5%)	0.2%	$59.22	+146.4%	COM	713448108
BKNG	Booking Holdings Inc.	5,500 (-1.8%)	$29,454 (-2.6%)	1.0%	$2280.82	+125.3%	COM	09857L108
ETR	Entergy Corporation	206,600 (-3.0%)	$19,096 (-3.8%)	0.6%	$67.96	+39.1%	COM	29364G103
XLV	State Street Health Care Select Sector SPDR ETF	133,200 (-7.7%)	$20,619 (+2.7%)	0.7%	$143.24	—	COM	81369Y209
GE	GE Aerospace	145,000 (-3.5%)	$44,664 (-1.1%)	1.5%	$201.37	+49.4%	COM	369604301
CCK	Crown Holdings, Inc.	144,400 (-4.0%)	$14,869 (+2.4%)	0.5%	$91.82	+6.0%	COM	228368106
CBRE	CBRE Group, Inc. Class A	94,400 (-3.9%)	$15,179 (-1.9%)	0.5%	$77.74	+102.2%	COM	12504L109
V	Visa Inc. Class A	113,261 (-3.1%)	$39,722 (-0.4%)	1.3%	$87.67	+288.2%	COM	92826C839

Unchanged Positions (34)

GOOGL Alphabet Inc. Class A 5.6%

Value ($000) $167,612 Shares 535,500 Est. Cost $111.43 Unrealized +156.3%

AAPL Apple Inc. 7.4%

Value ($000) $221,947 Shares 816,400 Est. Cost $99.03 Unrealized +171.0%

AMD Advanced Micro Devices, Inc. 0.9%

Value ($000) $27,412 Shares 128,000 Est. Cost $108.87 Unrealized +106.3%

MRK Merck & Co., Inc. 1.1%

Value ($000) $32,504 Shares 308,800 Est. Cost $81.01 Unrealized +15.1%

COF Capital One Financial Corporation 1.3%

Value ($000) $38,213 Shares 157,670 Est. Cost $185.05 Unrealized +20.1%

AVGO Broadcom Inc. 3.1%

Value ($000) $91,786 Shares 265,200 Est. Cost $156.65 Unrealized +127.9%

PH Parker-Hannifin Corporation 0.8%

Value ($000) $25,138 Shares 28,600 Est. Cost $580.27 Unrealized +40.9%

GS Goldman Sachs Group, Inc. 1.2%

Value ($000) $36,918 Shares 42,000 Est. Cost $558.30 Unrealized +45.7%

CSCO Cisco Systems, Inc. 1.0%

Value ($000) $28,871 Shares 374,800 Est. Cost $42.76 Unrealized +72.6%

JNJ Johnson & Johnson 0.7%

Value ($000) $21,274 Shares 102,800 Est. Cost $158.12 Unrealized +24.6%

PLD Prologis, Inc. 0.7%

Value ($000) $20,272 Shares 158,800 Est. Cost $108.29 Unrealized +14.4%

ADI Analog Devices, Inc. 0.7%

Value ($000) $21,425 Shares 79,000 Est. Cost $186.28 Unrealized +34.5%

COR Cencora, Inc. 0.9%

Value ($000) $26,041 Shares 77,100 Est. Cost $160.24 Unrealized +112.6%

VICI VICI Properties Inc. 0.4%

Value ($000) $11,855 Shares 421,600 Est. Cost $29.43 Unrealized -0.4%

VST Vistra Corp. 0.2%

Value ($000) $6,034 Shares 37,400 Est. Cost $110.99 Unrealized +63.9%

IBM International Business Machines Corporation 0.9%

Value ($000) $26,037 Shares 87,900 Est. Cost $216.31 Unrealized +38.1%

RSG Republic Services, Inc. 0.5%

Value ($000) $14,517 Shares 68,500 Est. Cost $245.13 Unrealized -12.5%

BKR Baker Hughes Company 0.5%

Value ($000) $14,090 Shares 309,400 Est. Cost $35.81 Unrealized +32.2%

DUK Duke Energy Corporation 0.6%

Value ($000) $17,582 Shares 150,000 Est. Cost $115.43 Unrealized +5.3%

ADSK Autodesk, Inc. 0.4%

Value ($000) $12,048 Shares 40,700 Est. Cost $295.42 Unrealized +2.4%

COST Costco Wholesale Corporation 0.4%

Value ($000) $11,814 Shares 13,700 Est. Cost $892.84 Unrealized +1.4%

ECL Ecolab Inc. 0.6%

Value ($000) $18,954 Shares 72,200 Est. Cost $253.86 Unrealized +4.7%

UNH UnitedHealth Group Incorporated 0.6%

Value ($000) $16,770 Shares 50,800 Est. Cost $356.29 Unrealized -5.4%

PG Procter & Gamble Company 0.3%

Value ($000) $10,067 Shares 70,249 Est. Cost $109.53 Unrealized +34.4%

CEG Constellation Energy Corporation 0.3%

Value ($000) $10,351 Shares 29,300 Est. Cost $218.46 Unrealized +66.3%

AVB AvalonBay Communities, Inc. 0.3%

Value ($000) $10,443 Shares 57,600 Est. Cost $213.79 Unrealized -15.9%

TSLA Tesla, Inc. 1.8%

Value ($000) $54,776 Shares 121,800 Est. Cost $256.17 Unrealized +73.0%

ABBV AbbVie, Inc. 1.4%

Value ($000) $42,888 Shares 187,700 Est. Cost $161.07 Unrealized +41.3%

KO Coca-Cola Company 0.3%

Value ($000) $10,067 Shares 144,000 Est. Cost $43.10 Unrealized +61.0%

SNOW Snowflake, Inc. 0.5%

Value ($000) $14,960 Shares 68,200 Est. Cost $214.74 Unrealized +13.7%

PLTR Palantir Technologies Inc. Class A 0.3%

Value ($000) $10,114 Shares 56,900 Est. Cost $110.78 Unrealized +63.4%

MDT Medtronic plc 0.6%

Value ($000) $18,530 Shares 192,900 Est. Cost $83.84 Unrealized +15.9%

MCD McDonald's Corporation 0.8%

Value ($000) $22,739 Shares 74,400 Est. Cost $273.33 Unrealized +11.6%

TROW T. Rowe Price Group, Inc. 0.5%

Value ($000) $15,848 Shares 154,800 Est. Cost $102.81 Unrealized -0.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	Alphabet Inc. Class A	535,500	$167,612	5.6%	$111.43	+156.3%	COM	02079K305
AAPL	Apple Inc.	816,400	$221,947	7.4%	$99.03	+171.0%	COM	037833100
AMD	Advanced Micro Devices, Inc.	128,000	$27,412	0.9%	$108.87	+106.3%	COM	007903107
MRK	Merck & Co., Inc.	308,800	$32,504	1.1%	$81.01	+15.1%	COM	58933Y105
COF	Capital One Financial Corporation	157,670	$38,213	1.3%	$185.05	+20.1%	COM	14040H105
AVGO	Broadcom Inc.	265,200	$91,786	3.1%	$156.65	+127.9%	COM	11135F101
PH	Parker-Hannifin Corporation	28,600	$25,138	0.8%	$580.27	+40.9%	COM	701094104
GS	Goldman Sachs Group, Inc.	42,000	$36,918	1.2%	$558.30	+45.7%	COM	38141G104
CSCO	Cisco Systems, Inc.	374,800	$28,871	1.0%	$42.76	+72.6%	COM	17275R102
JNJ	Johnson & Johnson	102,800	$21,274	0.7%	$158.12	+24.6%	COM	478160104
PLD	Prologis, Inc.	158,800	$20,272	0.7%	$108.29	+14.4%	COM	74340W103
ADI	Analog Devices, Inc.	79,000	$21,425	0.7%	$186.28	+34.5%	COM	032654105
COR	Cencora, Inc.	77,100	$26,041	0.9%	$160.24	+112.6%	COM	03073E105
VICI	VICI Properties Inc.	421,600	$11,855	0.4%	$29.43	-0.4%	COM	925652109
VST	Vistra Corp.	37,400	$6,034	0.2%	$110.99	+63.9%	COM	92840M102
IBM	International Business Machines Corporation	87,900	$26,037	0.9%	$216.31	+38.1%	COM	459200101
RSG	Republic Services, Inc.	68,500	$14,517	0.5%	$245.13	-12.5%	COM	760759100
BKR	Baker Hughes Company	309,400	$14,090	0.5%	$35.81	+32.2%	COM	05722G100
DUK	Duke Energy Corporation	150,000	$17,582	0.6%	$115.43	+5.3%	COM	26441C204
ADSK	Autodesk, Inc.	40,700	$12,048	0.4%	$295.42	+2.4%	COM	052769106
COST	Costco Wholesale Corporation	13,700	$11,814	0.4%	$892.84	+1.4%	COM	22160K105
ECL	Ecolab Inc.	72,200	$18,954	0.6%	$253.86	+4.7%	COM	278865100
UNH	UnitedHealth Group Incorporated	50,800	$16,770	0.6%	$356.29	-5.4%	COM	91324P102
PG	Procter & Gamble Company	70,249	$10,067	0.3%	$109.53	+34.4%	COM	742718109
CEG	Constellation Energy Corporation	29,300	$10,351	0.3%	$218.46	+66.3%	COM	21037T109
AVB	AvalonBay Communities, Inc.	57,600	$10,443	0.3%	$213.79	-15.9%	COM	053484101
TSLA	Tesla, Inc.	121,800	$54,776	1.8%	$256.17	+73.0%	COM	88160R101
ABBV	AbbVie, Inc.	187,700	$42,888	1.4%	$161.07	+41.3%	COM	00287Y109
KO	Coca-Cola Company	144,000	$10,067	0.3%	$43.10	+61.0%	COM	191216100
SNOW	Snowflake, Inc.	68,200	$14,960	0.5%	$214.74	+13.7%	COM	833445109
PLTR	Palantir Technologies Inc. Class A	56,900	$10,114	0.3%	$110.78	+63.4%	COM	69608A108
MDT	Medtronic plc	192,900	$18,530	0.6%	$83.84	+15.9%	COM	G5960L103
MCD	McDonald's Corporation	74,400	$22,739	0.8%	$273.33	+11.6%	COM	580135101
TROW	T. Rowe Price Group, Inc.	154,800	$15,848	0.5%	$102.81	-0.6%	COM	74144T108