Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BKNG	BOOKING HOLDINGS INC	2,715	$3.419M	3.7%	—	—	COM	09857L108
SNDK	SANDISK CORP	263	$522K	0.6%	—	—	COM	80004C200
URI	UNITED RENTALS INC	520	$480K	0.5%	—	—	COM	911363109
WM	WASTE MGMT INC DEL	1,879	$366K	0.4%	—	—	COM	94106L109
SPGI	S&P GLOBAL INC	994	$355K	0.4%	—	—	COM	78409V104
UNP	UNION PAC CORP	1,588	$349K	0.4%	—	—	COM	907818108
GEV	GE VERNOVA INC	279	$287K	0.3%	—	—	COM	36828A101
PAAS	PAN AMERN SILVER CORP	6,921	$271K	0.3%	—	—	COM	697900108
INTC	INTEL CORP	2,103	$257K	0.3%	—	—	COM	458140100
CRDO	CREDO TECHNOLOGY GROUP HOLDI	1,049	$249K	0.3%	—	—	ORDINARY SHARES	G25457105

Increased Positions (6)

LIN LINDE PLC 0.8%

Value $724K (+174.9%) Shares 1,595 (+200.4%) Est. Cost — Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 9.4%

Value $8.681M (-5.0%) Shares 19,843 (+4.1%) Est. Cost — Unrealized —

FTNT FORTINET INC 0.5%

Value $442K (+80.4%) Shares 3,293 (+9.8%) Est. Cost — Unrealized —

MA MASTERCARD INCORPORATED 0.7%

Value $636K (+24.9%) Shares 1,427 (+40.0%) Est. Cost — Unrealized —

MSCI MSCI INC 0.4%

Value $368K (+43.5%) Shares 753 (+58.5%) Est. Cost — Unrealized —

REGN REGENERON PHARMACEUTICALS 0.4%

Value $344K (+26.1%) Shares 675 (+91.2%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LIN	LINDE PLC	1,595 (+200.4%)	$724K (+174.9%)	0.8%	—	—	SHS	G54950103
BRK/B	BERKSHIRE HATHAWAY INC DEL	19,843 (+4.1%)	$8.681M (-5.0%)	9.4%	—	—	CL B NEW	084670702
FTNT	FORTINET INC	3,293 (+9.8%)	$442K (+80.4%)	0.5%	—	—	COM	34959E109
MA	MASTERCARD INCORPORATED	1,427 (+40.0%)	$636K (+24.9%)	0.7%	—	—	CL A	57636Q104
MSCI	MSCI INC	753 (+58.5%)	$368K (+43.5%)	0.4%	—	—	COM	55354G100
REGN	REGENERON PHARMACEUTICALS	675 (+91.2%)	$344K (+26.1%)	0.4%	—	—	COM	75886F107

Exited Positions (38)

AVGO BROADCOM INC 2.9%

Value $2.662M Shares 8,600 Est. Cost — Unrealized —

NFLX NETFLIX INC. 1.7%

Value $1.558M Shares 16,199 Est. Cost — Unrealized —

NEE NEXTERA ENERGY INC 1.7%

Value $1.542M Shares 16,605 Est. Cost — Unrealized —

ETN EATON CORP PLC 1.7%

Value $1.536M Shares 4,295 Est. Cost — Unrealized —

MS MORGAN STANLEY 1.4%

Value $1.313M Shares 7,976 Est. Cost — Unrealized —

MNST MONSTER BEVERAGE CORP NEW 1.4%

Value $1.309M Shares 18,070 Est. Cost — Unrealized —

ADSK AUTODESK INC 1.4%

Value $1.295M Shares 5,408 Est. Cost — Unrealized —

CIEN CIENA CORP 1.4%

Value $1.292M Shares 3,327 Est. Cost — Unrealized —

COR CENCORA INC 1.4%

Value $1.291M Shares 13,866 Est. Cost — Unrealized —

COST COSTCO WHOLESALE CORPORATION 1.4%

Value $1.254M Shares 1,258 Est. Cost — Unrealized —

MLM MARTIN MARIETTA MATLS INC 1.4%

Value $1.247M Shares 2,118 Est. Cost — Unrealized —

UBER UBER TECHNOLOGIES INC 1.3%

Value $1.23M Shares 17,106 Est. Cost — Unrealized —

EOG EOG RES INC 1.3%

Value $1.229M Shares 8,504 Est. Cost — Unrealized —

CLH CLEAN HARBORS INC 1.3%

Value $1.193M Shares 4,161 Est. Cost — Unrealized —

TJX TJX COS INC NEW 1.3%

Value $1.179M Shares 7,383 Est. Cost — Unrealized —

MRK MERCK & CO INC 1.3%

Value $1.156M Shares 9,610 Est. Cost — Unrealized —

AXP AMERICAN EXPRESS CO 1.2%

Value $1.08M Shares 3,569 Est. Cost — Unrealized —

RCL ROYAL CARIBBEAN GROUP 1.2%

Value $1.076M Shares 3,910 Est. Cost — Unrealized —

BSX BOSTON SCIENTIFIC CORP 1.1%

Value $1.048M Shares 16,705 Est. Cost — Unrealized —

CRUS CIRRUS LOGIC INC 1.0%

Value $964K Shares 6,667 Est. Cost — Unrealized —

ENSG ENSIGN GROUP INC 1.0%

Value $895K Shares 4,443 Est. Cost — Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 1.0%

Value $878K Shares 1,786 Est. Cost — Unrealized —

IR INGERSOLL RAND INC 0.9%

Value $871K Shares 10,876 Est. Cost — Unrealized —

ORLY OREILLY AUTOMOTIVE INC 0.9%

Value $827K Shares 8,957 Est. Cost — Unrealized —

NBIX NEUROCRINE BIOSCIENCES INC 0.8%

Value $763K Shares 5,789 Est. Cost — Unrealized —

PGR PROGRESSIVE CORP 0.8%

Value $717K Shares 3,617 Est. Cost — Unrealized —

PLNT PLANET FITNESS MASTER ISSUER 0.8%

Value $716K Shares 9,629 Est. Cost — Unrealized —

ECL ECOLAB INC 0.8%

Value $708K Shares 2,661 Est. Cost — Unrealized —

TSCO TRACTOR SUPPLY CO 0.7%

Value $672K Shares 14,835 Est. Cost — Unrealized —

HLI HOULIHAN LOKEY INC 0.7%

Value $619K Shares 4,307 Est. Cost — Unrealized —

CVLT COMMVAULT SYS INC 0.6%

Value $585K Shares 7,505 Est. Cost — Unrealized —

CSGP COSTAR GROUP INC 0.6%

Value $561K Shares 13,908 Est. Cost — Unrealized —

UNH UNITEDHEALTH GROUP INC 0.6%

Value $545K Shares 2,013 Est. Cost — Unrealized —

MSA MSA SAFETY INC 0.5%

Value $465K Shares 2,838 Est. Cost — Unrealized —

ZTS ZOETIS INC 0.3%

Value $251K Shares 2,120 Est. Cost — Unrealized —

ICE INTERCONTINENTAL EXCHANGE IN 0.2%

Value $223K Shares 1,420 Est. Cost — Unrealized —

PFE PFIZER INC 0.2%

Value $211K Shares 7,497 Est. Cost — Unrealized —

WMT WALMART INC 0.2%

Value $203K Shares 1,630 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	8,600	$2.662M	2.9%	—	—	—	11135F101
NFLX	NETFLIX INC.	16,199	$1.558M	1.7%	—	—	—	64110L106
NEE	NEXTERA ENERGY INC	16,605	$1.542M	1.7%	—	—	—	65339F101
ETN	EATON CORP PLC	4,295	$1.536M	1.7%	—	—	—	G29183103
MS	MORGAN STANLEY	7,976	$1.313M	1.4%	—	—	—	617446448
MNST	MONSTER BEVERAGE CORP NEW	18,070	$1.309M	1.4%	—	—	—	61174X109
ADSK	AUTODESK INC	5,408	$1.295M	1.4%	—	—	—	052769106
CIEN	CIENA CORP	3,327	$1.292M	1.4%	—	—	—	171779309
COR	CENCORA INC	13,866	$1.291M	1.4%	—	—	—	03073E105
COST	COSTCO WHOLESALE CORPORATION	1,258	$1.254M	1.4%	—	—	—	22160K105
MLM	MARTIN MARIETTA MATLS INC	2,118	$1.247M	1.4%	—	—	—	573284106
UBER	UBER TECHNOLOGIES INC	17,106	$1.23M	1.3%	—	—	—	90353T100
EOG	EOG RES INC	8,504	$1.229M	1.3%	—	—	—	26875P101
CLH	CLEAN HARBORS INC	4,161	$1.193M	1.3%	—	—	—	184496107
TJX	TJX COS INC NEW	7,383	$1.179M	1.3%	—	—	—	872540109
MRK	MERCK & CO INC	9,610	$1.156M	1.3%	—	—	—	58933Y105
AXP	AMERICAN EXPRESS CO	3,569	$1.08M	1.2%	—	—	—	025816109
RCL	ROYAL CARIBBEAN GROUP	3,910	$1.076M	1.2%	—	—	—	V7780T103
BSX	BOSTON SCIENTIFIC CORP	16,705	$1.048M	1.1%	—	—	—	101137107
CRUS	CIRRUS LOGIC INC	6,667	$964K	1.0%	—	—	—	172755100
ENSG	ENSIGN GROUP INC	4,443	$895K	1.0%	—	—	—	29358P101
TMO	THERMO FISHER SCIENTIFIC INC	1,786	$878K	1.0%	—	—	—	883556102
IR	INGERSOLL RAND INC	10,876	$871K	0.9%	—	—	—	45687V106
ORLY	OREILLY AUTOMOTIVE INC	8,957	$827K	0.9%	—	—	—	67103H107
NBIX	NEUROCRINE BIOSCIENCES INC	5,789	$763K	0.8%	—	—	—	64125C109
PGR	PROGRESSIVE CORP	3,617	$717K	0.8%	—	—	—	743315103
PLNT	PLANET FITNESS MASTER ISSUER	9,629	$716K	0.8%	—	—	—	72703H101
ECL	ECOLAB INC	2,661	$708K	0.8%	—	—	—	278865100
TSCO	TRACTOR SUPPLY CO	14,835	$672K	0.7%	—	—	—	892356106
HLI	HOULIHAN LOKEY INC	4,307	$619K	0.7%	—	—	—	441593100
CVLT	COMMVAULT SYS INC	7,505	$585K	0.6%	—	—	—	204166102
CSGP	COSTAR GROUP INC	13,908	$561K	0.6%	—	—	—	22160N109
UNH	UNITEDHEALTH GROUP INC	2,013	$545K	0.6%	—	—	—	91324P102
MSA	MSA SAFETY INC	2,838	$465K	0.5%	—	—	—	553498106
ZTS	ZOETIS INC	2,120	$251K	0.3%	—	—	—	98978V103
ICE	INTERCONTINENTAL EXCHANGE IN	1,420	$223K	0.2%	—	—	—	45866F104
PFE	PFIZER INC	7,497	$211K	0.2%	—	—	—	717081103
WMT	WALMART INC	1,630	$203K	0.2%	—	—	—	931142103

Decreased Positions (25)

BABA ALIBABA GROUP HLDG LTD 0.5%

Value $424K (-99.3%) Shares 5,046 (-98.9%) Est. Cost — Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 24.5%

Value $22.54M (-49.0%) Shares 34,766 (-48.8%) Est. Cost — Unrealized —

TTE TOTALENERGIES SE 7.0%

Value $6.475M (-58.9%) Shares 83,339 (-57.2%) Est. Cost — Unrealized —

IEMG ISHARES INC 2.0%

Value $1.803M (-83.3%) Shares 21,600 (-86.0%) Est. Cost — Unrealized —

AAPL APPLE INC 2.0%

Value $1.834M (-75.3%) Shares 7,195 (-75.4%) Est. Cost — Unrealized —

NVDA NVIDIA CORPORATION 4.3%

Value $3.923M (-58.1%) Shares 22,450 (-58.2%) Est. Cost — Unrealized —

GOOG ALPHABET INC 0.1%

Value $83,722 (-98.3%) Shares 271 (-98.4%) Est. Cost — Unrealized —

MSFT MICROSOFT CORP 4.0%

Value $3.686M (-53.4%) Shares 11,305 (-47.1%) Est. Cost — Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 1.7%

Value $1.576M (-72.8%) Shares 3,779 (-78.0%) Est. Cost — Unrealized —

AMZN AMAZON COM INC 3.5%

Value $3.207M (-50.9%) Shares 15,396 (-50.9%) Est. Cost — Unrealized —

META META PLATFORMS INC 0.9%

Value $856K (-74.9%) Shares 1,739 (-70.8%) Est. Cost — Unrealized —

LRCX LAM RESEARCH CORP 2.7%

Value $2.517M (+753.6%) Shares 998 (-27.7%) Est. Cost — Unrealized —

V VISA INC 1.2%

Value $1.114M (-55.7%) Shares 3,718 (-55.3%) Est. Cost — Unrealized —

RACE FERRARI N V 2.7%

Value $2.517M (-35.1%) Shares 6,794 (-40.7%) Est. Cost — Unrealized —

BAC BANK OF AMER CORP 0.5%

Value $452K (-73.7%) Shares 9,076 (-74.2%) Est. Cost — Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.5%

Value $437K (-72.0%) Shares 862 (-88.8%) Est. Cost — Unrealized —

STLA STELLANTIS N.V 2.3%

Value $2.102M (-30.9%) Shares 369,850 (-26.2%) Est. Cost — Unrealized —

TSLA TESLA INC 0.5%

Value $492K (-49.0%) Shares 1,481 (-42.9%) Est. Cost — Unrealized —

ADBE ADOBE INC 0.6%

Value $565K (-39.8%) Shares 3,394 (-12.1%) Est. Cost — Unrealized —

MU MICRON TECHNOLOGY INC 1.0%

Value $886K (-25.7%) Shares 880 (-75.1%) Est. Cost — Unrealized —

LLY ELI LILLY & CO 1.6%

Value $1.439M (-12.1%) Shares 1,372 (-22.9%) Est. Cost — Unrealized —

CAT CATERPILLAR INC 0.9%

Value $865K (+22.9%) Shares 957 (-3.6%) Est. Cost — Unrealized —

RTX RTX CORPORATION 0.6%

Value $557K (-16.7%) Shares 3,359 (-3.1%) Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 0.3%

Value $282K (+5.1%) Shares 376 (-1.6%) Est. Cost — Unrealized —

GE GE AEROSPACE 0.7%

Value $605K (-1.2%) Shares 2,009 (-6.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BABA	ALIBABA GROUP HLDG LTD	5,046 (-98.9%)	$424K (-99.3%)	0.5%	—	—	SPONSORED ADS	01609W102
SPY	STATE STR SPDR S&P 500 ETF T	34,766 (-48.8%)	$22.54M (-49.0%)	24.5%	—	—	TR UNIT	78462F103
TTE	TOTALENERGIES SE	83,339 (-57.2%)	$6.475M (-58.9%)	7.0%	—	—	ACT	F92124100
IEMG	ISHARES INC	21,600 (-86.0%)	$1.803M (-83.3%)	2.0%	—	—	CORE MSCI EMKT	46434G103
AAPL	APPLE INC	7,195 (-75.4%)	$1.834M (-75.3%)	2.0%	—	—	COM	037833100
NVDA	NVIDIA CORPORATION	22,450 (-58.2%)	$3.923M (-58.1%)	4.3%	—	—	COM	67066G104
GOOG	ALPHABET INC	271 (-98.4%)	$83,722 (-98.3%)	0.1%	—	—	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	11,305 (-47.1%)	$3.686M (-53.4%)	4.0%	—	—	COM	594918104
TSM	TAIWAN SEMICONDUCTOR MANUFAC	3,779 (-78.0%)	$1.576M (-72.8%)	1.7%	—	—	SPONSORED ADS	874039100
AMZN	AMAZON COM INC	15,396 (-50.9%)	$3.207M (-50.9%)	3.5%	—	—	COM	023135106
META	META PLATFORMS INC	1,739 (-70.8%)	$856K (-74.9%)	0.9%	—	—	CL A	30303M102
LRCX	LAM RESEARCH CORP	998 (-27.7%)	$2.517M (+753.6%)	2.7%	—	—	COM NEW	512807306
V	VISA INC	3,718 (-55.3%)	$1.114M (-55.7%)	1.2%	—	—	COM CL A	92826C839
RACE	FERRARI N V	6,794 (-40.7%)	$2.517M (-35.1%)	2.7%	—	—	COM	N3167Y103
BAC	BANK OF AMER CORP	9,076 (-74.2%)	$452K (-73.7%)	0.5%	—	—	COM	060505104
AMD	ADVANCED MICRO DEVICES INC	862 (-88.8%)	$437K (-72.0%)	0.5%	—	—	COM	007903107
STLA	STELLANTIS N.V	369,850 (-26.2%)	$2.102M (-30.9%)	2.3%	—	—	SHS	N82405106
TSLA	TESLA INC	1,481 (-42.9%)	$492K (-49.0%)	0.5%	—	—	COM	88160R101
ADBE	ADOBE INC	3,394 (-12.1%)	$565K (-39.8%)	0.6%	—	—	COM	00724F101
MU	MICRON TECHNOLOGY INC	880 (-75.1%)	$886K (-25.7%)	1.0%	—	—	COM	595112103
LLY	ELI LILLY & CO	1,372 (-22.9%)	$1.439M (-12.1%)	1.6%	—	—	COM	532457108
CAT	CATERPILLAR INC	957 (-3.6%)	$865K (+22.9%)	0.9%	—	—	COM	149123101
RTX	RTX CORPORATION	3,359 (-3.1%)	$557K (-16.7%)	0.6%	—	—	COM	75513E101
LITE	LUMENTUM HLDGS INC	376 (-1.6%)	$282K (+5.1%)	0.3%	—	—	COM	55024U109
GE	GE AEROSPACE	2,009 (-6.9%)	$605K (-1.2%)	0.7%	—	—	COM NEW	369604301

Unchanged Positions (5)

LFT LUMENT FINANCE TRUST INC 3.6%

Value $3.341M Shares 3,340,780 Est. Cost — Unrealized —

GOOGL ALPHABET INC 5.4%

Value $5.002M Shares 16,017 Est. Cost — Unrealized —

KO COCA COLA CO 3.8%

Value $3.447M Shares 48,523 Est. Cost — Unrealized —

MRNA MODERNA INC 0.5%

Value $477K Shares 7,790 Est. Cost — Unrealized —

JPM JPMORGAN CHASE & CO 0.7%

Value $631K Shares 2,204 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LFT	LUMENT FINANCE TRUST INC	3,340,780	$3.341M	3.6%	—	—	COM	55025L108
GOOGL	ALPHABET INC	16,017	$5.002M	5.4%	—	—	CAP STK CL A	02079K305
KO	COCA COLA CO	48,523	$3.447M	3.8%	—	—	COM	191216100
MRNA	MODERNA INC	7,790	$477K	0.5%	—	—	COM	60770K107
JPM	JPMORGAN CHASE & CO	2,204	$631K	0.7%	—	—	COM	46625H100