LOCKHEED MARTIN INVESTMENT MANAGEMENT CO Diversified Active

CIK: 0000897599 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 5, 2026

Total Value ($000): $2,994,418 (100.0% shares, 0.0% debt)

Holdings (105)

New Positions (4)

REGN REGENERON PHARMACEUTICALS 0.1%

Value ($000) $2,702 Shares 3,500 Est. Cost $678.68 Unrealized 0.0%

NOW SERVICENOW INC 0.0%

Value ($000) $1,303 Shares 8,505 Est. Cost $171.54 Unrealized 0.0%

BP BP PLC 0.0%

Value ($000) $1,247 Shares 35,900 Est. Cost $34.73 Unrealized —

RBRK RUBRIK INC. 0.0%

Value ($000) $236 Shares 3,092 Est. Cost $76.71 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
REGN	REGENERON PHARMACEUTICALS	3,500	$2,702	0.1%	$678.68	0.0%	COM	75886F107
NOW	SERVICENOW INC	8,505	$1,303	0.0%	$171.54	0.0%	COM	81762P102
BP	BP PLC	35,900	$1,247	0.0%	$34.73	—	SPONSORED ADR	055622104
RBRK	RUBRIK INC.	3,092	$236	0.0%	$76.71	0.0%	CL A	781154109

Increased Positions (58)

AAPL APPLE INC 6.7%

Value ($000) $200,883 (+60.0%) Shares 738,920 (+49.8%) Est. Cost $197.58 Unrealized +35.8%

GOOGL ALPHABET INC 4.1%

Value ($000) $123,100 (+128.0%) Shares 393,290 (+77.1%) Est. Cost $208.42 Unrealized +37.0%

GOOG ALPHABET INC 2.4%

Value ($000) $72,582 (+601.2%) Shares 231,300 (+444.2%) Est. Cost $271.63 Unrealized +5.4%

AMZN AMAZON COM INC 3.2%

Value ($000) $94,795 (+144.7%) Shares 410,690 (+132.8%) Est. Cost $198.99 Unrealized +15.0%

NVDA NVIDIA CORPORATION 6.9%

Value ($000) $205,370 (+26.3%) Shares 1,101,180 (+26.3%) Est. Cost $128.09 Unrealized +45.3%

META META PLATFORMS INC 2.2%

Value ($000) $66,273 (+122.1%) Shares 100,400 (+147.1%) Est. Cost $564.97 Unrealized +18.1%

MSFT MICROSOFT CORP 5.6%

Value ($000) $166,559 (+22.4%) Shares 344,400 (+31.1%) Est. Cost $387.02 Unrealized +29.3%

TSLA TESLA INC 2.1%

Value ($000) $62,916 (+75.7%) Shares 139,900 (+73.8%) Est. Cost $379.43 Unrealized +16.8%

AEP AMERICAN ELEC PWR CO INC 1.0%

Value ($000) $29,139 (+160.1%) Shares 252,700 (+153.7%) Est. Cost $111.67 Unrealized +5.4%

TSM TAIWAN SEMICONDUCTOR MFG LTD 2.0%

Value ($000) $61,052 (+22.9%) Shares 200,900 (+12.9%) Est. Cost $255.97 Unrealized —

NEM NEWMONT CORP 0.4%

Value ($000) $13,320 (+460.2%) Shares 133,400 (+373.0%) Est. Cost $85.80 Unrealized +5.1%

DUK DUKE ENERGY CORP NEW 1.5%

Value ($000) $44,897 (+32.1%) Shares 383,050 (+39.5%) Est. Cost $105.61 Unrealized +15.1%

SO SOUTHERN CO 0.7%

Value ($000) $22,196 (+56.2%) Shares 254,540 (+69.7%) Est. Cost $81.27 Unrealized +11.8%

JNJ JOHNSON & JOHNSON 1.8%

Value ($000) $52,590 (+17.3%) Shares 254,120 (+5.1%) Est. Cost $154.49 Unrealized +27.5%

CRM SALESFORCE INC 0.4%

Value ($000) $12,795 (+73.9%) Shares 48,300 (+55.6%) Est. Cost $229.30 Unrealized +8.2%

SHEL SHELL PLC 0.2%

Value ($000) $7,399 (+251.0%) Shares 100,700 (+241.7%) Est. Cost $71.20 Unrealized —

CB CHUBB LIMITED 0.2%

Value ($000) $7,123 (+190.1%) Shares 22,820 (+162.3%) Est. Cost $271.51 Unrealized +7.7%

ADBE ADOBE INC 0.4%

Value ($000) $10,727 (+63.8%) Shares 30,650 (+65.1%) Est. Cost $402.92 Unrealized -15.6%

DHR DANAHER CORPORATION 0.3%

Value ($000) $9,134 (+81.8%) Shares 39,900 (+57.5%) Est. Cost $224.42 Unrealized -2.2%

LLY ELI LILLY & CO 0.4%

Value ($000) $12,982 (+44.6%) Shares 12,080 (+2.6%) Est. Cost $819.95 Unrealized +16.5%

TMO THERMO FISHER SCIENTIFIC INC 0.3%

Value ($000) $9,254 (+71.0%) Shares 15,970 (+43.1%) Est. Cost $508.46 Unrealized +11.2%

XOM EXXON MOBIL CORP 0.6%

Value ($000) $16,592 (+26.1%) Shares 137,880 (+18.1%) Est. Cost $107.23 Unrealized +7.7%

IBM INTERNATIONAL BUSINESS MACHS 0.5%

Value ($000) $14,100 (+30.5%) Shares 47,600 (+24.3%) Est. Cost $259.30 Unrealized +15.2%

RTX RTX CORPORATION 0.5%

Value ($000) $16,268 (+22.7%) Shares 88,700 (+12.0%) Est. Cost $98.80 Unrealized +75.4%

BTI BRITISH AMERN TOB PLC 0.8%

Value ($000) $24,935 (+11.4%) Shares 440,400 (+4.4%) Est. Cost $46.24 Unrealized —

TXN TEXAS INSTRS INC 0.5%

Value ($000) $13,529 (+22.1%) Shares 77,980 (+29.3%) Est. Cost $157.66 Unrealized +8.3%

AGG ISHARES TR 7.2%

Value ($000) $216,240 (+1.0%) Shares 2,165,000 (+1.4%) Est. Cost $98.98 Unrealized —

MAR MARRIOTT INTL INC NEW 0.3%

Value ($000) $7,945 (+33.3%) Shares 25,610 (+11.9%) Est. Cost $178.68 Unrealized +59.7%

CME CME GROUP INC 0.5%

Value ($000) $16,202 (+13.2%) Shares 59,330 (+12.0%) Est. Cost $215.22 Unrealized +25.8%

DIS DISNEY WALT CO 0.2%

Value ($000) $4,756 (+53.8%) Shares 41,800 (+54.8%) Est. Cost $94.46 Unrealized +16.0%

HIG HARTFORD INSURANCE GROUP INC 0.4%

Value ($000) $11,512 (+15.6%) Shares 83,540 (+11.9%) Est. Cost $92.68 Unrealized +42.0%

ISRG INTUITIVE SURGICAL INC 0.2%

Value ($000) $5,092 (+41.6%) Shares 8,990 (+11.8%) Est. Cost $424.95 Unrealized +25.3%

AMD ADVANCED MICRO DEVICES INC 0.1%

Value ($000) $4,024 (+48.2%) Shares 18,790 (+12.0%) Est. Cost $180.14 Unrealized +24.7%

UNP UNION PAC CORP 0.5%

Value ($000) $14,048 (+9.2%) Shares 60,730 (+11.6%) Est. Cost $232.21 Unrealized -2.1%

V VISA INC 0.3%

Value ($000) $8,333 (+15.1%) Shares 23,760 (+12.1%) Est. Cost $219.58 Unrealized +55.0%

ABBV ABBVIE INC 0.3%

Value ($000) $10,314 (+10.5%) Shares 45,140 (+12.0%) Est. Cost $169.17 Unrealized +34.5%

EW EDWARDS LIFESCIENCES CORP 0.2%

Value ($000) $5,121 (+22.9%) Shares 60,070 (+12.1%) Est. Cost $71.30 Unrealized +15.1%

NFLX NETFLIX INC 0.2%

Value ($000) $5,879 (-12.4%) Shares 62,700 (+1019.6%) Est. Cost $102.08 Unrealized +5.6%

MA MASTERCARD INCORPORATED 0.3%

Value ($000) $7,564 (+12.3%) Shares 13,250 (+11.9%) Est. Cost $365.92 Unrealized +52.8%

HD HOME DEPOT INC 0.5%

Value ($000) $15,805 (-4.9%) Shares 45,930 (+11.9%) Est. Cost $298.80 Unrealized +22.0%

PLD PROLOGIS INC. 0.1%

Value ($000) $4,121 (+24.8%) Shares 32,280 (+12.0%) Est. Cost $115.82 Unrealized +6.9%

PEP PEPSICO INC 0.4%

Value ($000) $11,444 (+7.6%) Shares 79,740 (+5.3%) Est. Cost $145.94 Unrealized -0.0%

CVX CHEVRON CORP NEW 0.3%

Value ($000) $7,773 (+10.3%) Shares 51,000 (+12.4%) Est. Cost $144.90 Unrealized +4.5%

UNH UNITEDHEALTH GROUP INC 0.3%

Value ($000) $9,821 (+7.0%) Shares 29,750 (+12.0%) Est. Cost $410.85 Unrealized -17.9%

TM TOYOTA MOTOR CORP 0.1%

Value ($000) $1,787 (+54.6%) Shares 8,350 (+38.0%) Est. Cost $193.78 Unrealized —

VGLT VANGUARD SCOTTSDALE FDS 1.1%

Value ($000) $31,806 (+1.7%) Shares 570,000 (+3.6%) Est. Cost $64.26 Unrealized —

CMG CHIPOTLE MEXICAN GRILL INC 0.3%

Value ($000) $8,696 (+5.6%) Shares 235,040 (+11.9%) Est. Cost $53.66 Unrealized -32.6%

NEE NEXTERA ENERGY INC 0.1%

Value ($000) $2,652 (+20.4%) Shares 33,040 (+13.2%) Est. Cost $73.97 Unrealized +11.5%

BSX BOSTON SCIENTIFIC CORP 0.2%

Value ($000) $5,201 (+9.4%) Shares 54,550 (+12.0%) Est. Cost $47.13 Unrealized +108.0%

SLB SLB LIMITED 0.1%

Value ($000) $1,714 (+34.8%) Shares 44,650 (+20.7%) Est. Cost $50.23 Unrealized -28.2%

NOC NORTHROP GRUMMAN CORP 0.3%

Value ($000) $9,300 (+4.2%) Shares 16,310 (+11.3%) Est. Cost $490.50 Unrealized +18.0%

HAL HALLIBURTON CO 0.1%

Value ($000) $1,642 (+28.0%) Shares 58,120 (+11.4%) Est. Cost $35.78 Unrealized -26.5%

ITW ILLINOIS TOOL WKS INC 0.3%

Value ($000) $8,997 (+4.0%) Shares 36,530 (+10.1%) Est. Cost $236.88 Unrealized +4.5%

LIN LINDE PLC 0.1%

Value ($000) $1,531 (+8.5%) Shares 3,590 (+20.9%) Est. Cost $444.38 Unrealized -3.8%

CMCSA COMCAST CORP NEW 0.1%

Value ($000) $3,048 (+4.0%) Shares 101,990 (+9.3%) Est. Cost $36.63 Unrealized -22.1%

CCI CROWN CASTLE INC 0.1%

Value ($000) $3,594 (+3.1%) Shares 40,440 (+12.0%) Est. Cost $116.46 Unrealized -21.8%

AMT AMERICAN TOWER CORP NEW 0.1%

Value ($000) $4,273 (+1.8%) Shares 24,340 (+11.5%) Est. Cost $202.13 Unrealized -10.8%

DLR DIGITAL RLTY TR INC 0.1%

Value ($000) $2,989 (+0.3%) Shares 19,320 (+12.1%) Est. Cost $131.70 Unrealized +23.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	738,920 (+49.8%)	$200,883 (+60.0%)	6.7%	$197.58	+35.8%	COM	037833100
GOOGL	ALPHABET INC	393,290 (+77.1%)	$123,100 (+128.0%)	4.1%	$208.42	+37.0%	CAP STK CL A	02079K305
GOOG	ALPHABET INC	231,300 (+444.2%)	$72,582 (+601.2%)	2.4%	$271.63	+5.4%	CAP STK CL C	02079K107
AMZN	AMAZON COM INC	410,690 (+132.8%)	$94,795 (+144.7%)	3.2%	$198.99	+15.0%	COM	023135106
NVDA	NVIDIA CORPORATION	1,101,180 (+26.3%)	$205,370 (+26.3%)	6.9%	$128.09	+45.3%	COM	67066G104
META	META PLATFORMS INC	100,400 (+147.1%)	$66,273 (+122.1%)	2.2%	$564.97	+18.1%	CL A	30303M102
MSFT	MICROSOFT CORP	344,400 (+31.1%)	$166,559 (+22.4%)	5.6%	$387.02	+29.3%	COM	594918104
TSLA	TESLA INC	139,900 (+73.8%)	$62,916 (+75.7%)	2.1%	$379.43	+16.8%	COM	88160R101
AEP	AMERICAN ELEC PWR CO INC	252,700 (+153.7%)	$29,139 (+160.1%)	1.0%	$111.67	+5.4%	COM	025537101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	200,900 (+12.9%)	$61,052 (+22.9%)	2.0%	$255.97	—	SPONSORED ADS	874039100
NEM	NEWMONT CORP	133,400 (+373.0%)	$13,320 (+460.2%)	0.4%	$85.80	+5.1%	COM	651639106
DUK	DUKE ENERGY CORP NEW	383,050 (+39.5%)	$44,897 (+32.1%)	1.5%	$105.61	+15.1%	COM NEW	26441C204
SO	SOUTHERN CO	254,540 (+69.7%)	$22,196 (+56.2%)	0.7%	$81.27	+11.8%	COM	842587107
JNJ	JOHNSON & JOHNSON	254,120 (+5.1%)	$52,590 (+17.3%)	1.8%	$154.49	+27.5%	COM	478160104
CRM	SALESFORCE INC	48,300 (+55.6%)	$12,795 (+73.9%)	0.4%	$229.30	+8.2%	COM	79466L302
SHEL	SHELL PLC	100,700 (+241.7%)	$7,399 (+251.0%)	0.2%	$71.20	—	SPON ADS	780259305
CB	CHUBB LIMITED	22,820 (+162.3%)	$7,123 (+190.1%)	0.2%	$271.51	+7.7%	COM	H1467J104
ADBE	ADOBE INC	30,650 (+65.1%)	$10,727 (+63.8%)	0.4%	$402.92	-15.6%	COM	00724F101
DHR	DANAHER CORPORATION	39,900 (+57.5%)	$9,134 (+81.8%)	0.3%	$224.42	-2.2%	COM	235851102
LLY	ELI LILLY & CO	12,080 (+2.6%)	$12,982 (+44.6%)	0.4%	$819.95	+16.5%	COM	532457108
TMO	THERMO FISHER SCIENTIFIC INC	15,970 (+43.1%)	$9,254 (+71.0%)	0.3%	$508.46	+11.2%	COM	883556102
XOM	EXXON MOBIL CORP	137,880 (+18.1%)	$16,592 (+26.1%)	0.6%	$107.23	+7.7%	COM	30231G102
IBM	INTERNATIONAL BUSINESS MACHS	47,600 (+24.3%)	$14,100 (+30.5%)	0.5%	$259.30	+15.2%	COM	459200101
RTX	RTX CORPORATION	88,700 (+12.0%)	$16,268 (+22.7%)	0.5%	$98.80	+75.4%	COM	75513E101
BTI	BRITISH AMERN TOB PLC	440,400 (+4.4%)	$24,935 (+11.4%)	0.8%	$46.24	—	SPONSORED ADR	110448107
TXN	TEXAS INSTRS INC	77,980 (+29.3%)	$13,529 (+22.1%)	0.5%	$157.66	+8.3%	COM	882508104
AGG	ISHARES TR	2,165,000 (+1.4%)	$216,240 (+1.0%)	7.2%	$98.98	—	CORE US AGGBD ET	464287226
MAR	MARRIOTT INTL INC NEW	25,610 (+11.9%)	$7,945 (+33.3%)	0.3%	$178.68	+59.7%	CL A	571903202
CME	CME GROUP INC	59,330 (+12.0%)	$16,202 (+13.2%)	0.5%	$215.22	+25.8%	COM	12572Q105
DIS	DISNEY WALT CO	41,800 (+54.8%)	$4,756 (+53.8%)	0.2%	$94.46	+16.0%	COM	254687106
HIG	HARTFORD INSURANCE GROUP INC	83,540 (+11.9%)	$11,512 (+15.6%)	0.4%	$92.68	+42.0%	COM	416515104
ISRG	INTUITIVE SURGICAL INC	8,990 (+11.8%)	$5,092 (+41.6%)	0.2%	$424.95	+25.3%	COM NEW	46120E602
AMD	ADVANCED MICRO DEVICES INC	18,790 (+12.0%)	$4,024 (+48.2%)	0.1%	$180.14	+24.7%	COM	007903107
UNP	UNION PAC CORP	60,730 (+11.6%)	$14,048 (+9.2%)	0.5%	$232.21	-2.1%	COM	907818108
V	VISA INC	23,760 (+12.1%)	$8,333 (+15.1%)	0.3%	$219.58	+55.0%	COM CL A	92826C839
ABBV	ABBVIE INC	45,140 (+12.0%)	$10,314 (+10.5%)	0.3%	$169.17	+34.5%	COM	00287Y109
EW	EDWARDS LIFESCIENCES CORP	60,070 (+12.1%)	$5,121 (+22.9%)	0.2%	$71.30	+15.1%	COM	28176E108
NFLX	NETFLIX INC	62,700 (+1019.6%)	$5,879 (-12.4%)	0.2%	$102.08	+5.6%	COM	64110L106
MA	MASTERCARD INCORPORATED	13,250 (+11.9%)	$7,564 (+12.3%)	0.3%	$365.92	+52.8%	CL A	57636Q104
HD	HOME DEPOT INC	45,930 (+11.9%)	$15,805 (-4.9%)	0.5%	$298.80	+22.0%	COM	437076102
PLD	PROLOGIS INC.	32,280 (+12.0%)	$4,121 (+24.8%)	0.1%	$115.82	+6.9%	COM	74340W103
PEP	PEPSICO INC	79,740 (+5.3%)	$11,444 (+7.6%)	0.4%	$145.94	-0.0%	COM	713448108
CVX	CHEVRON CORP NEW	51,000 (+12.4%)	$7,773 (+10.3%)	0.3%	$144.90	+4.5%	COM	166764100
UNH	UNITEDHEALTH GROUP INC	29,750 (+12.0%)	$9,821 (+7.0%)	0.3%	$410.85	-17.9%	COM	91324P102
TM	TOYOTA MOTOR CORP	8,350 (+38.0%)	$1,787 (+54.6%)	0.1%	$193.78	—	ADS	892331307
VGLT	VANGUARD SCOTTSDALE FDS	570,000 (+3.6%)	$31,806 (+1.7%)	1.1%	$64.26	—	LONG TERM TREAS	92206C847
CMG	CHIPOTLE MEXICAN GRILL INC	235,040 (+11.9%)	$8,696 (+5.6%)	0.3%	$53.66	-32.6%	COM	169656105
NEE	NEXTERA ENERGY INC	33,040 (+13.2%)	$2,652 (+20.4%)	0.1%	$73.97	+11.5%	COM	65339F101
BSX	BOSTON SCIENTIFIC CORP	54,550 (+12.0%)	$5,201 (+9.4%)	0.2%	$47.13	+108.0%	COM	101137107
SLB	SLB LIMITED	44,650 (+20.7%)	$1,714 (+34.8%)	0.1%	$50.23	-28.2%	COM STK	806857108
NOC	NORTHROP GRUMMAN CORP	16,310 (+11.3%)	$9,300 (+4.2%)	0.3%	$490.50	+18.0%	COM	666807102
HAL	HALLIBURTON CO	58,120 (+11.4%)	$1,642 (+28.0%)	0.1%	$35.78	-26.5%	COM	406216101
ITW	ILLINOIS TOOL WKS INC	36,530 (+10.1%)	$8,997 (+4.0%)	0.3%	$236.88	+4.5%	COM	452308109
LIN	LINDE PLC	3,590 (+20.9%)	$1,531 (+8.5%)	0.1%	$444.38	-3.8%	SHS	G54950103
CMCSA	COMCAST CORP NEW	101,990 (+9.3%)	$3,048 (+4.0%)	0.1%	$36.63	-22.1%	CL A	20030N101
CCI	CROWN CASTLE INC	40,440 (+12.0%)	$3,594 (+3.1%)	0.1%	$116.46	-21.8%	COM	22822V101
AMT	AMERICAN TOWER CORP NEW	24,340 (+11.5%)	$4,273 (+1.8%)	0.1%	$202.13	-10.8%	COM	03027X100
DLR	DIGITAL RLTY TR INC	19,320 (+12.1%)	$2,989 (+0.3%)	0.1%	$131.70	+23.9%	COM	253868103

Exited Positions (14)

GEV GE VERNOVA INC 1.0%

Value ($000) $29,392 Shares 47,800 Est. Cost $415.00 Unrealized +46.8%

T AT&T INC 0.7%

Value ($000) $20,316 Shares 719,400 Est. Cost $20.54 Unrealized +23.1%

COST COSTCO WHSL CORP NEW 0.7%

Value ($000) $19,808 Shares 21,400 Est. Cost $972.12 Unrealized -6.8%

WFC WELLS FARGO CO NEW 0.5%

Value ($000) $13,763 Shares 164,200 Est. Cost $63.01 Unrealized +37.5%

PFE PFIZER INC 0.3%

Value ($000) $9,965 Shares 391,100 Est. Cost $23.81 Unrealized +5.1%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.3%

Value ($000) $8,496 Shares 16,900 Est. Cost $451.28 Unrealized +10.3%

CEG CONSTELLATION ENERGY CORP 0.2%

Value ($000) $5,594 Shares 17,000 Est. Cost $191.68 Unrealized +89.5%

HON HONEYWELL INTL INC 0.1%

Value ($000) $4,147 Shares 19,700 Est. Cost $207.11 Unrealized -5.8%

CM CANADIAN IMPERIAL BANK OF CO 0.1%

Value ($000) $4,026 Shares 50,400 Est. Cost $75.26 Unrealized +14.0%

PGR PROGRESSIVE CORP 0.1%

Value ($000) $3,097 Shares 12,540 Est. Cost $225.50 Unrealized -5.8%

WM WASTE MGMT INC DEL 0.1%

Value ($000) $3,092 Shares 14,000 Est. Cost $223.68 Unrealized -5.0%

AMGN AMGEN INC 0.1%

Value ($000) $2,624 Shares 9,300 Est. Cost $286.59 Unrealized +10.2%

CL COLGATE PALMOLIVE CO 0.1%

Value ($000) $1,535 Shares 19,200 Est. Cost $90.04 Unrealized -13.0%

HOOD ROBINHOOD MKTS INC 0.0%

Value ($000) $745 Shares 5,200 Est. Cost $109.05 Unrealized +19.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GEV	GE VERNOVA INC	47,800	$29,392	1.0%	$415.00	+46.8%	—	36828A101
T	AT&T INC	719,400	$20,316	0.7%	$20.54	+23.1%	—	00206R102
COST	COSTCO WHSL CORP NEW	21,400	$19,808	0.7%	$972.12	-6.8%	—	22160K105
WFC	WELLS FARGO CO NEW	164,200	$13,763	0.5%	$63.01	+37.5%	—	949746101
PFE	PFIZER INC	391,100	$9,965	0.3%	$23.81	+5.1%	—	717081103
BRK/B	BERKSHIRE HATHAWAY INC DEL	16,900	$8,496	0.3%	$451.28	+10.3%	—	084670702
CEG	CONSTELLATION ENERGY CORP	17,000	$5,594	0.2%	$191.68	+89.5%	—	21037T109
HON	HONEYWELL INTL INC	19,700	$4,147	0.1%	$207.11	-5.8%	—	438516106
CM	CANADIAN IMPERIAL BANK OF CO	50,400	$4,026	0.1%	$75.26	+14.0%	—	136069101
PGR	PROGRESSIVE CORP	12,540	$3,097	0.1%	$225.50	-5.8%	—	743315103
WM	WASTE MGMT INC DEL	14,000	$3,092	0.1%	$223.68	-5.0%	—	94106L109
AMGN	AMGEN INC	9,300	$2,624	0.1%	$286.59	+10.2%	—	031162100
CL	COLGATE PALMOLIVE CO	19,200	$1,535	0.1%	$90.04	-13.0%	—	194162103
HOOD	ROBINHOOD MKTS INC	5,200	$745	0.0%	$109.05	+19.3%	—	770700102

Decreased Positions (26)

WMT WALMART INC 0.2%

Value ($000) $7,478 (-79.7%) Shares 67,120 (-81.2%) Est. Cost $88.95 Unrealized +20.5%

PG PROCTER AND GAMBLE CO 0.4%

Value ($000) $12,224 (-58.7%) Shares 85,300 (-55.7%) Est. Cost $151.28 Unrealized -2.7%

BAC BANK AMERICA CORP 0.5%

Value ($000) $16,124 (-50.4%) Shares 293,160 (-53.4%) Est. Cost $38.50 Unrealized +36.8%

IBN ICICI BANK LIMITED 0.0%

Value ($000) $986 (-92.3%) Shares 33,100 (-92.2%) Est. Cost $30.36 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.5%

Value ($000) $15,192 (-41.4%) Shares 373,000 (-36.8%) Est. Cost $39.66 Unrealized +2.1%

MO ALTRIA GROUP INC 0.7%

Value ($000) $20,285 (-33.8%) Shares 351,800 (-24.2%) Est. Cost $57.26 Unrealized +3.7%

AVGO BROADCOM INC 1.8%

Value ($000) $54,992 (-12.8%) Shares 158,890 (-16.9%) Est. Cost $186.02 Unrealized +91.9%

ORCL ORACLE CORP 0.1%

Value ($000) $3,742 (-68.2%) Shares 19,200 (-54.1%) Est. Cost $99.88 Unrealized +138.3%

JPM JPMORGAN CHASE & CO. 2.5%

Value ($000) $76,131 (-5.9%) Shares 236,270 (-7.9%) Est. Cost $198.57 Unrealized +55.9%

KO COCA COLA CO 0.8%

Value ($000) $25,187 (-13.0%) Shares 360,275 (-17.4%) Est. Cost $63.34 Unrealized +9.6%

DBC INVESCO DB COMMDY INDX TRCK 0.3%

Value ($000) $9,615 (-26.4%) Shares 430,000 (-25.9%) Est. Cost $21.38 Unrealized —

NVS NOVARTIS AG 0.3%

Value ($000) $7,900 (-27.7%) Shares 57,300 (-32.7%) Est. Cost $121.99 Unrealized —

IVOO VANGUARD ADMIRAL FDS INC 2.4%

Value ($000) $70,434 (-3.3%) Shares 630,000 (-4.5%) Est. Cost $128.79 Unrealized —

MCK MCKESSON CORP 0.2%

Value ($000) $5,742 (-29.2%) Shares 7,000 (-33.3%) Est. Cost $630.00 Unrealized +29.5%

MRK MERCK & CO INC 0.3%

Value ($000) $9,873 (-16.7%) Shares 93,800 (-33.6%) Est. Cost $77.53 Unrealized +20.3%

PM PHILIP MORRIS INTL INC 0.3%

Value ($000) $10,426 (-14.7%) Shares 65,000 (-13.8%) Est. Cost $167.37 Unrealized -8.2%

USB US BANCORP DEL 0.2%

Value ($000) $5,336 (-25.2%) Shares 100,000 (-32.3%) Est. Cost $46.35 Unrealized +5.1%

NGG NATIONAL GRID PLC 0.6%

Value ($000) $18,943 (-7.6%) Shares 244,900 (-13.2%) Est. Cost $73.27 Unrealized —

PDBC INVESCO ACTVELY MNGD ETC FD 0.2%

Value ($000) $7,288 (-16.5%) Shares 550,000 (-15.4%) Est. Cost $16.99 Unrealized —

VOO VANGUARD INDEX FDS 6.3%

Value ($000) $188,578 (-0.7%) Shares 300,700 (-3.0%) Est. Cost $460.22 Unrealized —

IEFA ISHARES TR 2.1%

Value ($000) $63,964 (-1.1%) Shares 715,000 (-3.5%) Est. Cost $67.73 Unrealized —

BHP BHP GROUP LTD 0.1%

Value ($000) $2,261 (-23.4%) Shares 37,460 (-29.3%) Est. Cost $59.75 Unrealized —

RIO RIO TINTO PLC 0.1%

Value ($000) $2,533 (-11.1%) Shares 31,650 (-26.7%) Est. Cost $68.11 Unrealized —

CSCO CISCO SYS INC 0.4%

Value ($000) $10,934 (+2.4%) Shares 141,950 (-9.1%) Est. Cost $49.70 Unrealized +48.5%

IEMG ISHARES INC 2.2%

Value ($000) $66,749 (+0.3%) Shares 993,000 (-1.7%) Est. Cost $50.71 Unrealized —

BCS BARCLAYS PLC 0.1%

Value ($000) $3,904 (-4.0%) Shares 153,400 (-22.0%) Est. Cost $18.59 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WMT	WALMART INC	67,120 (-81.2%)	$7,478 (-79.7%)	0.2%	$88.95	+20.5%	COM	931142103
PG	PROCTER AND GAMBLE CO	85,300 (-55.7%)	$12,224 (-58.7%)	0.4%	$151.28	-2.7%	COM	742718109
BAC	BANK AMERICA CORP	293,160 (-53.4%)	$16,124 (-50.4%)	0.5%	$38.50	+36.8%	COM	060505104
IBN	ICICI BANK LIMITED	33,100 (-92.2%)	$986 (-92.3%)	0.0%	$30.36	—	ADR	45104G104
VZ	VERIZON COMMUNICATIONS INC	373,000 (-36.8%)	$15,192 (-41.4%)	0.5%	$39.66	+2.1%	COM	92343V104
MO	ALTRIA GROUP INC	351,800 (-24.2%)	$20,285 (-33.8%)	0.7%	$57.26	+3.7%	COM	02209S103
AVGO	BROADCOM INC	158,890 (-16.9%)	$54,992 (-12.8%)	1.8%	$186.02	+91.9%	COM	11135F101
ORCL	ORACLE CORP	19,200 (-54.1%)	$3,742 (-68.2%)	0.1%	$99.88	+138.3%	COM	68389X105
JPM	JPMORGAN CHASE & CO.	236,270 (-7.9%)	$76,131 (-5.9%)	2.5%	$198.57	+55.9%	COM	46625H100
KO	COCA COLA CO	360,275 (-17.4%)	$25,187 (-13.0%)	0.8%	$63.34	+9.6%	COM	191216100
DBC	INVESCO DB COMMDY INDX TRCK	430,000 (-25.9%)	$9,615 (-26.4%)	0.3%	$21.38	—	UNIT	46138B103
NVS	NOVARTIS AG	57,300 (-32.7%)	$7,900 (-27.7%)	0.3%	$121.99	—	SPONSORED ADR	66987V109
IVOO	VANGUARD ADMIRAL FDS INC	630,000 (-4.5%)	$70,434 (-3.3%)	2.4%	$128.79	—	MIDCP 400 IDX	921932885
MCK	MCKESSON CORP	7,000 (-33.3%)	$5,742 (-29.2%)	0.2%	$630.00	+29.5%	COM	58155Q103
MRK	MERCK & CO INC	93,800 (-33.6%)	$9,873 (-16.7%)	0.3%	$77.53	+20.3%	COM	58933Y105
PM	PHILIP MORRIS INTL INC	65,000 (-13.8%)	$10,426 (-14.7%)	0.3%	$167.37	-8.2%	COM	718172109
USB	US BANCORP DEL	100,000 (-32.3%)	$5,336 (-25.2%)	0.2%	$46.35	+5.1%	COM NEW	902973304
NGG	NATIONAL GRID PLC	244,900 (-13.2%)	$18,943 (-7.6%)	0.6%	$73.27	—	SPONSORED ADR NE	636274409
PDBC	INVESCO ACTVELY MNGD ETC FD	550,000 (-15.4%)	$7,288 (-16.5%)	0.2%	$16.99	—	OPTIMUM YIELD	46090F100
VOO	VANGUARD INDEX FDS	300,700 (-3.0%)	$188,578 (-0.7%)	6.3%	$460.22	—	S&P 500 ETF SHS	922908363
IEFA	ISHARES TR	715,000 (-3.5%)	$63,964 (-1.1%)	2.1%	$67.73	—	CORE MSCI EAFE	46432F842
BHP	BHP GROUP LTD	37,460 (-29.3%)	$2,261 (-23.4%)	0.1%	$59.75	—	SPONSORED ADS	088606108
RIO	RIO TINTO PLC	31,650 (-26.7%)	$2,533 (-11.1%)	0.1%	$68.11	—	SPONSORED ADR	767204100
CSCO	CISCO SYS INC	141,950 (-9.1%)	$10,934 (+2.4%)	0.4%	$49.70	+48.5%	COM	17275R102
IEMG	ISHARES INC	993,000 (-1.7%)	$66,749 (+0.3%)	2.2%	$50.71	—	CORE MSCI EMKT	46434G103
BCS	BARCLAYS PLC	153,400 (-22.0%)	$3,904 (-4.0%)	0.1%	$18.59	—	ADR	06738E204

Unchanged Positions (17)

VT VANGUARD INTL EQUITY INDEX F 7.5%

Value ($000) $224,991 Shares 1,595,000 Est. Cost $124.93 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 2.6%

Value ($000) $78,088 Shares 1,250,000 Est. Cost $45.08 Unrealized —

BCI ABRDN ETFS 0.6%

Value ($000) $18,321 Shares 938,100 Est. Cost $19.75 Unrealized —

EWC ISHARES INC 0.2%

Value ($000) $7,270 Shares 134,800 Est. Cost $32.57 Unrealized —

OEF ISHARES TR 0.3%

Value ($000) $10,289 Shares 30,000 Est. Cost $288.85 Unrealized —

LYG LLOYDS BANKING GROUP PLC 0.1%

Value ($000) $2,057 Shares 388,170 Est. Cost $3.13 Unrealized —

BND VANGUARD BD INDEX FDS 1.8%

Value ($000) $53,330 Shares 720,000 Est. Cost $85.17 Unrealized —

SMFG SUMITOMO MITSUI FINL GROUP I 0.0%

Value ($000) $1,358 Shares 70,230 Est. Cost $9.68 Unrealized —

VTWO VANGUARD SCOTTSDALE FDS 0.3%

Value ($000) $9,952 Shares 100,000 Est. Cost $70.28 Unrealized —

SAN BANCO SANTANDER SA 0.0%

Value ($000) $1,470 Shares 125,290 Est. Cost $4.47 Unrealized —

NVO NOVO-NORDISK A S 0.0%

Value ($000) $1,422 Shares 27,950 Est. Cost $76.72 Unrealized —

GOVT ISHARES TR 1.0%

Value ($000) $28,781 Shares 1,250,000 Est. Cost $23.01 Unrealized —

ASML ASML HOLDING N V 0.0%

Value ($000) $1,016 Shares 950 Est. Cost $756.92 Unrealized —

SPY SPDR S&P 500 ETF TR 0.1%

Value ($000) $4,092 Shares 6,000 Est. Cost $373.88 Unrealized —

SAP SAP SE 0.0%

Value ($000) $831 Shares 3,420 Est. Cost $182.70 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.1%

Value ($000) $3,831 Shares 20,000 Est. Cost $173.23 Unrealized —

MUFG MITSUBISHI UFJ FINL GROUP IN 0.0%

Value ($000) $1,275 Shares 80,400 Est. Cost $8.61 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VT	VANGUARD INTL EQUITY INDEX F	1,595,000	$224,991	7.5%	$124.93	—	TT WRLD ST ETF	922042742
VEA	VANGUARD TAX-MANAGED FDS	1,250,000	$78,088	2.6%	$45.08	—	VAN FTSE DEV MKT	921943858
BCI	ABRDN ETFS	938,100	$18,321	0.6%	$19.75	—	BBRG ALL COMD K1	003261104
EWC	ISHARES INC	134,800	$7,270	0.2%	$32.57	—	MSCI CDA ETF	464286509
OEF	ISHARES TR	30,000	$10,289	0.3%	$288.85	—	S&P 100 ETF	464287101
LYG	LLOYDS BANKING GROUP PLC	388,170	$2,057	0.1%	$3.13	—	SPONSORED ADR	539439109
BND	VANGUARD BD INDEX FDS	720,000	$53,330	1.8%	$85.17	—	TOTAL BND MRKT	921937835
SMFG	SUMITOMO MITSUI FINL GROUP I	70,230	$1,358	0.0%	$9.68	—	SPONSORED ADR	86562M209
VTWO	VANGUARD SCOTTSDALE FDS	100,000	$9,952	0.3%	$70.28	—	VNG RUS2000IDX	92206C664
SAN	BANCO SANTANDER SA	125,290	$1,470	0.0%	$4.47	—	ADR	05964H105
NVO	NOVO-NORDISK A S	27,950	$1,422	0.0%	$76.72	—	ADR	670100205
GOVT	ISHARES TR	1,250,000	$28,781	1.0%	$23.01	—	US TREAS BD ETF	46429B267
ASML	ASML HOLDING N V	950	$1,016	0.0%	$756.92	—	N Y REGISTRY SHS	N07059210
SPY	SPDR S&P 500 ETF TR	6,000	$4,092	0.1%	$373.88	—	TR UNIT	78462F103
SAP	SAP SE	3,420	$831	0.0%	$182.70	—	SPON ADR	803054204
RSP	INVESCO EXCHANGE TRADED FD T	20,000	$3,831	0.1%	$173.23	—	S&P500 EQL WGT	46137V357
MUFG	MITSUBISHI UFJ FINL GROUP IN	80,400	$1,275	0.0%	$8.61	—	SPONSORED ADS	606822104