MERIDIAN MANAGEMENT CO Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEA	VANGUARD TAX-MANAGED FDS	627,592 (+9.9%)	$39,206 (+14.6%)	9.7%	$50.09	—	VAN FTSE DEV MKT	921943858
GVI	ISHARES TR	226,003 (+16.9%)	$24,261 (+16.8%)	6.0%	$110.86	—	INTRM GOV CR ETF	464288612
NVDA	NVIDIA CORPORATION	19,642 (+966.3%)	$3,663 (+965.9%)	0.9%	$178.13	+4.5%	COM	67066G104
AVGO	BROADCOM INC	9,397 (+983.9%)	$3,252 (+1037.0%)	0.8%	$343.98	+3.8%	COM	11135F101
VCIT	VANGUARD SCOTTSDALE FDS	378,354 (+10.3%)	$31,687 (+9.9%)	7.8%	$88.10	—	INT-TERM CORP	92206C870
TIP	ISHARES TR	143,647 (+15.7%)	$15,788 (+14.3%)	3.9%	$117.93	—	TIPS BD ETF	464287176
IJH	ISHARES TR	305,357 (+7.1%)	$20,154 (+8.3%)	5.0%	$80.40	—	CORE S&P MCP ETF	464287507
IVV	ISHARES TR	51,435 (+1.6%)	$35,230 (+3.9%)	8.7%	$316.26	—	CORE S&P500 ETF	464287200
KEYS	KEYSIGHT TECHNOLOGIES INC	37,553 (+3.8%)	$7,630 (+20.6%)	1.9%	$153.68	+20.7%	COM	49338L103
V	VISA INC	14,326 (+30.2%)	$5,024 (+33.7%)	1.2%	$163.27	+108.5%	COM CL A	92826C839
CPAY	CORPAY INC	22,095 (+17.5%)	$6,649 (+22.7%)	1.6%	$288.03	+0.8%	COM SHS	219948106
TMO	THERMO FISHER SCIENTIFIC INC	10,782 (+3.9%)	$6,248 (+24.2%)	1.5%	$332.32	+70.1%	COM	883556102
IEF	ISHARES TR	122,937 (+10.6%)	$11,822 (+10.3%)	2.9%	$95.10	—	7-10 YR TRSY BD	464287440
IQV	IQVIA HLDGS INC	29,288 (+1.1%)	$6,602 (+19.9%)	1.6%	$151.63	+43.5%	COM	46266C105
CRM	SALESFORCE INC	23,491 (+6.0%)	$6,223 (+18.5%)	1.5%	$221.99	+11.8%	COM	79466L302
ULTA	ULTA BEAUTY INC	10,726 (+4.4%)	$6,489 (+15.5%)	1.6%	$337.87	+62.7%	COM	90384S303
INTF	ISHARES TR	270,992 (+1.6%)	$10,230 (+6.8%)	2.5%	$26.57	—	INTL EQTY FACTOR	46434V274
AMZN	AMAZON COM INC	30,616 (+4.6%)	$7,067 (+9.9%)	1.7%	$136.24	+67.9%	COM	023135106
VWO	VANGUARD INTL EQUITY INDEX F	277,313 (+5.1%)	$14,908 (+4.3%)	3.7%	$41.43	—	FTSE EMR MKT ETF	922042858
DE	DEERE & CO	12,816 (+9.1%)	$5,967 (+11.1%)	1.5%	$483.80	-3.3%	COM	244199105
GNRC	GENERAC HLDGS INC	28,600 (+7.8%)	$3,900 (-12.1%)	1.0%	$118.15	+36.6%	COM	368736104
IJR	ISHARES TR	114,082 (+2.9%)	$13,710 (+4.0%)	3.4%	$107.50	—	CORE S&P SCP ETF	464287804
AAPL	APPLE INC	18,130 (+1.8%)	$4,929 (+8.7%)	1.2%	$89.21	+200.8%	COM	037833100
RMD	RESMED INC	11,262 (+22.1%)	$2,713 (+7.5%)	0.7%	$269.19	-5.1%	COM	761152107
TPL	TEXAS PACIFIC LAND CORPORATI	7,690 (+206.3%)	$2,209 (-5.8%)	0.5%	$273.57	+11.5%	COM	88262P102
SCHR	SCHWAB STRATEGIC TR	25,011 (+19.2%)	$627 (+19.0%)	0.2%	$36.54	—	INT-TRM U.S TRES	808524854
FTNT	FORTINET INC	46,668 (+4.6%)	$3,706 (-1.2%)	0.9%	$71.61	+15.8%	COM	34959E109
META	META PLATFORMS INC	9,620 (+11.9%)	$6,350 (+0.6%)	1.6%	$236.29	+182.4%	CL A	30303M102
SCHQ	SCHWAB STRATEGIC TR	16,507 (+1.5%)	$523 (-0.4%)	0.1%	$31.46	—	LONG TERM US	808524680

Exited Positions (3)

ZBRA ZEBRA TECHNOLOGIES CORPORATI 1.1%

Value ($000) $4,466 Shares 15,028 Est. Cost $287.55 Unrealized -7.0%

FANG DIAMONDBACK ENERGY INC 0.8%

Value ($000) $3,093 Shares 21,614 Est. Cost $77.21 Unrealized +90.5%

PYPL PAYPAL HLDGS INC 0.1%

Value ($000) $438 Shares 6,537 Est. Cost $73.53 Unrealized -11.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ZBRA	ZEBRA TECHNOLOGIES CORPORATI	15,028	$4,466	1.1%	$287.55	-7.0%	—	989207105
FANG	DIAMONDBACK ENERGY INC	21,614	$3,093	0.8%	$77.21	+90.5%	—	25278X109
PYPL	PAYPAL HLDGS INC	6,537	$438	0.1%	$73.53	-11.8%	—	70450Y103

Decreased Positions (11)

NICE NICE LTD 0.5%

Value ($000) $2,089 (-38.9%) Shares 18,481 (-21.8%) Est. Cost $164.46 Unrealized —

ADBE ADOBE INC 1.3%

Value ($000) $5,319 (-9.7%) Shares 15,197 (-9.0%) Est. Cost $376.66 Unrealized -9.7%

WDAY WORKDAY INC 0.7%

Value ($000) $2,745 (-16.7%) Shares 12,781 (-6.6%) Est. Cost $253.75 Unrealized -10.5%

COIN COINBASE GLOBAL INC 0.2%

Value ($000) $756 (-38.1%) Shares 3,344 (-7.5%) Est. Cost $339.07 Unrealized -12.1%

VO VANGUARD INDEX FDS 1.4%

Value ($000) $5,633 (-4.0%) Shares 19,410 (-2.8%) Est. Cost $148.88 Unrealized —

MSFT MICROSOFT CORP 0.1%

Value ($000) $259 (-18.1%) Shares 536 (-12.3%) Est. Cost $301.70 Unrealized +65.9%

SCHA SCHWAB STRATEGIC TR 1.5%

Value ($000) $5,983 (-0.7%) Shares 210,087 (-2.7%) Est. Cost $44.73 Unrealized —

IGIB ISHARES TR 0.1%

Value ($000) $250 (-6.0%) Shares 4,649 (-5.7%) Est. Cost $71.72 Unrealized —

MCD MCDONALDS CORP 0.0%

Value ($000) $200 (-4.1%) Shares 656 (-4.7%) Est. Cost $290.22 Unrealized +5.1%

VOO VANGUARD INDEX FDS 0.3%

Value ($000) $1,384 (+0.4%) Shares 2,207 (-2.0%) Est. Cost $248.88 Unrealized —

SCHD SCHWAB STRATEGIC TR 0.2%

Value ($000) $833 (-0.6%) Shares 30,361 (-1.1%) Est. Cost $26.50 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NICE	NICE LTD	18,481 (-21.8%)	$2,089 (-38.9%)	0.5%	$164.46	—	SPONSORED ADR	653656108
ADBE	ADOBE INC	15,197 (-9.0%)	$5,319 (-9.7%)	1.3%	$376.66	-9.7%	COM	00724F101
WDAY	WORKDAY INC	12,781 (-6.6%)	$2,745 (-16.7%)	0.7%	$253.75	-10.5%	CL A	98138H101
COIN	COINBASE GLOBAL INC	3,344 (-7.5%)	$756 (-38.1%)	0.2%	$339.07	-12.1%	COM CL A	19260Q107
VO	VANGUARD INDEX FDS	19,410 (-2.8%)	$5,633 (-4.0%)	1.4%	$148.88	—	MID CAP ETF	922908629
MSFT	MICROSOFT CORP	536 (-12.3%)	$259 (-18.1%)	0.1%	$301.70	+65.9%	COM	594918104
SCHA	SCHWAB STRATEGIC TR	210,087 (-2.7%)	$5,983 (-0.7%)	1.5%	$44.73	—	US SML CAP ETF	808524607
IGIB	ISHARES TR	4,649 (-5.7%)	$250 (-6.0%)	0.1%	$71.72	—	ISHS 5-10YR INVT	464288638
MCD	MCDONALDS CORP	656 (-4.7%)	$200 (-4.1%)	0.0%	$290.22	+5.1%	COM	580135101
VOO	VANGUARD INDEX FDS	2,207 (-2.0%)	$1,384 (+0.4%)	0.3%	$248.88	—	S&P 500 ETF SHS	922908363
SCHD	SCHWAB STRATEGIC TR	30,361 (-1.1%)	$833 (-0.6%)	0.2%	$26.50	—	US DIVIDEND EQ	808524797

Unchanged Positions (38)

GOOG ALPHABET INC 2.5%

Value ($000) $10,116 Shares 32,237 Est. Cost $115.93 Unrealized +147.0%

WMT WALMART INC 2.2%

Value ($000) $9,007 Shares 80,847 Est. Cost $47.82 Unrealized +124.2%

IEUR ISHARES TR 2.2%

Value ($000) $8,851 Shares 124,700 Est. Cost $68.12 Unrealized —

EMXC ISHARES INC 0.9%

Value ($000) $3,450 Shares 47,470 Est. Cost $67.51 Unrealized —

RTX RTX CORPORATION 0.6%

Value ($000) $2,241 Shares 12,219 Est. Cost $56.22 Unrealized +208.3%

BMY BRISTOL-MYERS SQUIBB CO 0.2%

Value ($000) $757 Shares 14,037 Est. Cost $60.34 Unrealized -21.2%

EWC ISHARES INC 0.4%

Value ($000) $1,644 Shares 30,490 Est. Cost $50.55 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.5%

Value ($000) $2,167 Shares 7,315 Est. Cost $116.72 Unrealized +156.0%

KO COCA COLA CO 0.4%

Value ($000) $1,803 Shares 25,785 Est. Cost $30.82 Unrealized +125.1%

PWR QUANTA SVCS INC 1.0%

Value ($000) $4,137 Shares 9,801 Est. Cost $115.14 Unrealized +281.5%

CARR CARRIER GLOBAL CORPORATION 0.2%

Value ($000) $634 Shares 12,000 Est. Cost $17.13 Unrealized +224.1%

FDX FEDEX CORP 0.1%

Value ($000) $337 Shares 1,167 Est. Cost $157.22 Unrealized +66.4%

CRK COMSTOCK RES INC 0.1%

Value ($000) $350 Shares 15,090 Est. Cost $9.01 Unrealized +144.5%

GEV GE VERNOVA INC 0.2%

Value ($000) $790 Shares 1,209 Est. Cost $158.10 Unrealized +285.2%

IWF ISHARES TR 1.0%

Value ($000) $3,971 Shares 8,390 Est. Cost $78.58 Unrealized —

CSX CSX CORP 0.5%

Value ($000) $1,958 Shares 54,000 Est. Cost $22.86 Unrealized +56.2%

IYW ISHARES TR 0.5%

Value ($000) $1,837 Shares 9,200 Est. Cost $94.49 Unrealized —

GE GE AEROSPACE 0.4%

Value ($000) $1,490 Shares 4,838 Est. Cost $47.06 Unrealized +539.2%

XOM EXXON MOBIL CORP 0.1%

Value ($000) $532 Shares 4,424 Est. Cost $68.37 Unrealized +68.9%

IYH ISHARES TR 0.1%

Value ($000) $326 Shares 5,000 Est. Cost $92.72 Unrealized —

EWJ ISHARES INC 1.1%

Value ($000) $4,610 Shares 57,100 Est. Cost $80.21 Unrealized —

IWP ISHARES TR 0.2%

Value ($000) $712 Shares 5,200 Est. Cost $89.46 Unrealized —

ITOT ISHARES TR 0.3%

Value ($000) $1,204 Shares 8,100 Est. Cost $63.33 Unrealized —

OTIS OTIS WORLDWIDE CORP 0.1%

Value ($000) $525 Shares 6,007 Est. Cost $47.92 Unrealized +86.3%

IVW ISHARES TR 0.2%

Value ($000) $896 Shares 7,272 Est. Cost $76.80 Unrealized —

LMT LOCKHEED MARTIN CORP 0.1%

Value ($000) $507 Shares 1,048 Est. Cost $125.40 Unrealized +279.7%

DIA SPDR DOW JONES INDL AVERAGE 0.1%

Value ($000) $421 Shares 877 Est. Cost $317.33 Unrealized —

RF REGIONS FINANCIAL CORP NEW 0.1%

Value ($000) $474 Shares 17,480 Est. Cost $17.26 Unrealized +47.0%

VYM VANGUARD WHITEHALL FDS 0.2%

Value ($000) $697 Shares 4,855 Est. Cost $61.08 Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 0.1%

Value ($000) $267 Shares 910 Est. Cost $227.05 Unrealized +27.0%

PFE PFIZER INC 0.1%

Value ($000) $258 Shares 10,359 Est. Cost $25.15 Unrealized -0.5%

VTI VANGUARD INDEX FDS 0.1%

Value ($000) $276 Shares 823 Est. Cost $223.24 Unrealized —

IWM ISHARES TR 0.1%

Value ($000) $320 Shares 1,300 Est. Cost $148.37 Unrealized —

PEP PEPSICO INC 0.1%

Value ($000) $249 Shares 1,733 Est. Cost $103.47 Unrealized +41.0%

HDV ISHARES TR 0.1%

Value ($000) $486 Shares 4,000 Est. Cost $73.50 Unrealized —

FLOT ISHARES TR 0.1%

Value ($000) $378 Shares 7,430 Est. Cost $50.68 Unrealized —

NEAR ISHARES U S ETF TR 0.1%

Value ($000) $353 Shares 6,900 Est. Cost $50.13 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value ($000) $209 Shares 415 Est. Cost $484.36 Unrealized +2.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	ALPHABET INC	32,237	$10,116	2.5%	$115.93	+147.0%	CAP STK CL C	02079K107
WMT	WALMART INC	80,847	$9,007	2.2%	$47.82	+124.2%	COM	931142103
IEUR	ISHARES TR	124,700	$8,851	2.2%	$68.12	—	CORE MSCI EURO	46434V738
EMXC	ISHARES INC	47,470	$3,450	0.9%	$67.51	—	MSCI EMRG CHN	46434G764
RTX	RTX CORPORATION	12,219	$2,241	0.6%	$56.22	+208.3%	COM	75513E101
BMY	BRISTOL-MYERS SQUIBB CO	14,037	$757	0.2%	$60.34	-21.2%	COM	110122108
EWC	ISHARES INC	30,490	$1,644	0.4%	$50.55	—	MSCI CDA ETF	464286509
IBM	INTERNATIONAL BUSINESS MACHS	7,315	$2,167	0.5%	$116.72	+156.0%	COM	459200101
KO	COCA COLA CO	25,785	$1,803	0.4%	$30.82	+125.1%	COM	191216100
PWR	QUANTA SVCS INC	9,801	$4,137	1.0%	$115.14	+281.5%	COM	74762E102
CARR	CARRIER GLOBAL CORPORATION	12,000	$634	0.2%	$17.13	+224.1%	COM	14448C104
FDX	FEDEX CORP	1,167	$337	0.1%	$157.22	+66.4%	COM	31428X106
CRK	COMSTOCK RES INC	15,090	$350	0.1%	$9.01	+144.5%	COM	205768302
GEV	GE VERNOVA INC	1,209	$790	0.2%	$158.10	+285.2%	COM	36828A101
IWF	ISHARES TR	8,390	$3,971	1.0%	$78.58	—	RUS 1000 GRW ETF	464287614
CSX	CSX CORP	54,000	$1,958	0.5%	$22.86	+56.2%	COM	126408103
IYW	ISHARES TR	9,200	$1,837	0.5%	$94.49	—	U.S. TECH ETF	464287721
GE	GE AEROSPACE	4,838	$1,490	0.4%	$47.06	+539.2%	COM NEW	369604301
XOM	EXXON MOBIL CORP	4,424	$532	0.1%	$68.37	+68.9%	COM	30231G102
IYH	ISHARES TR	5,000	$326	0.1%	$92.72	—	US HLTHCARE ETF	464287762
EWJ	ISHARES INC	57,100	$4,610	1.1%	$80.21	—	MSCI JAPAN ETF	46434G822
IWP	ISHARES TR	5,200	$712	0.2%	$89.46	—	RUS MD CP GR ETF	464287481
ITOT	ISHARES TR	8,100	$1,204	0.3%	$63.33	—	CORE S&P TTL STK	464287150
OTIS	OTIS WORLDWIDE CORP	6,007	$525	0.1%	$47.92	+86.3%	COM	68902V107
IVW	ISHARES TR	7,272	$896	0.2%	$76.80	—	S&P 500 GRWT ETF	464287309
LMT	LOCKHEED MARTIN CORP	1,048	$507	0.1%	$125.40	+279.7%	COM	539830109
DIA	SPDR DOW JONES INDL AVERAGE	877	$421	0.1%	$317.33	—	UT SER 1	78467X109
RF	REGIONS FINANCIAL CORP NEW	17,480	$474	0.1%	$17.26	+47.0%	COM	7591EP100
VYM	VANGUARD WHITEHALL FDS	4,855	$697	0.2%	$61.08	—	HIGH DIV YLD	921946406
LHX	L3HARRIS TECHNOLOGIES INC	910	$267	0.1%	$227.05	+27.0%	COM	502431109
PFE	PFIZER INC	10,359	$258	0.1%	$25.15	-0.5%	COM	717081103
VTI	VANGUARD INDEX FDS	823	$276	0.1%	$223.24	—	TOTAL STK MKT	922908769
IWM	ISHARES TR	1,300	$320	0.1%	$148.37	—	RUSSELL 2000 ETF	464287655
PEP	PEPSICO INC	1,733	$249	0.1%	$103.47	+41.0%	COM	713448108
HDV	ISHARES TR	4,000	$486	0.1%	$73.50	—	CORE HIGH DV ETF	46429B663
FLOT	ISHARES TR	7,430	$378	0.1%	$50.68	—	FLTG RATE NT ETF	46429B655
NEAR	ISHARES U S ETF TR	6,900	$353	0.1%	$50.13	—	SHORT DURATION B	46431W507
BRK/B	BERKSHIRE HATHAWAY INC DEL	415	$209	0.1%	$484.36	+2.7%	CL B NEW	084670702