CCM INVESTMENT ADVISERS LLC Diversified Active

CIK: 0000931097 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 12, 2026

Total Value ($000): $1,044,741 (100.0% shares, 0.0% debt)

Holdings (89)

New Positions (5)

STT State Street Corp. 0.9%

Value ($000) $9,918 Shares 76,879 Est. Cost $118.97 Unrealized 0.0%

ISRG Intuitive Surgical Inc 0.0%

Value ($000) $220 Shares 388 Est. Cost $532.37 Unrealized 0.0%

FCNCA First Citizens BancShares Inc 0.0%

Value ($000) $215 Shares 100 Est. Cost $1883.58 Unrealized 0.0%

AMGN Amgen 0.0%

Value ($000) $207 Shares 631 Est. Cost $315.95 Unrealized 0.0%

SWVXX Schwab Value Adv MMF 0.0%

Value ($000) $15 Shares 15,013 Est. Cost $1.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
STT	State Street Corp.	76,879	$9,918	0.9%	$118.97	0.0%	COM	857477103
ISRG	Intuitive Surgical Inc	388	$220	0.0%	$532.37	0.0%	COM	46120E602
FCNCA	First Citizens BancShares Inc	100	$215	0.0%	$1883.58	0.0%	COM	31946M103
AMGN	Amgen	631	$207	0.0%	$315.95	0.0%	COM	031162100
SWVXX	Schwab Value Adv MMF	15,013	$15	0.0%	$1.00	—	MMF	808515605

Increased Positions (28)

AMD Advanced Micro Devices 1.4%

Value ($000) $15,103 (+35.6%) Shares 70,521 (+2.5%) Est. Cost $162.90 Unrealized +37.9%

— Netflix Inc 1.9%

Value ($000) $20,347 (-16.3%) Shares 217,007 (+970.8%) Est. Cost $133.27 Unrealized —

FCX Freeport McMoran Copper & Gold 1.5%

Value ($000) $15,267 (+31.8%) Shares 300,592 (+1.8%) Est. Cost $41.70 Unrealized +3.9%

KLAC KLA-Tencor Corp. 1.4%

Value ($000) $14,836 (+22.9%) Shares 12,210 (+9.1%) Est. Cost $950.55 Unrealized +23.3%

AMZN Amazon.Com Inc. 3.3%

Value ($000) $34,023 (+7.5%) Shares 147,399 (+2.2%) Est. Cost $123.62 Unrealized +85.1%

SNPS Synopsys Corp. 1.1%

Value ($000) $11,803 (+23.8%) Shares 25,128 (+30.0%) Est. Cost $537.33 Unrealized -17.3%

HD Home Depot Inc. 2.0%

Value ($000) $20,454 (-9.7%) Shares 59,440 (+6.3%) Est. Cost $136.56 Unrealized +167.0%

— Chubb Limited 1.5%

Value ($000) $16,024 (+15.5%) Shares 51,338 (+4.4%) Est. Cost $164.44 Unrealized —

META Meta Platforms Inc. 2.5%

Value ($000) $25,735 (-7.6%) Shares 38,987 (+2.8%) Est. Cost $332.84 Unrealized +100.5%

MPWR Monolithic Power Systems 0.6%

Value ($000) $6,400 (+41.5%) Shares 7,061 (+43.8%) Est. Cost $854.53 Unrealized +12.4%

LMT Lockheed Martin Corp. 1.3%

Value ($000) $13,299 (+12.1%) Shares 27,495 (+15.7%) Est. Cost $459.00 Unrealized +3.7%

— Prologis Inc 1.1%

Value ($000) $11,437 (+14.2%) Shares 89,591 (+2.4%) Est. Cost $120.23 Unrealized —

BAC Bank Of America Corp. 1.6%

Value ($000) $16,807 (+8.2%) Shares 305,583 (+1.5%) Est. Cost $27.68 Unrealized +90.3%

BRK/B Berkshire Hathaway Inc. Cl B 1.7%

Value ($000) $18,164 (+6.0%) Shares 36,136 (+6.0%) Est. Cost $343.64 Unrealized +44.8%

— Visa Inc. 1.6%

Value ($000) $16,653 (+6.2%) Shares 47,483 (+3.3%) Est. Cost $108.16 Unrealized —

SHW Sherwin-Williams Co. 1.2%

Value ($000) $13,045 (-4.8%) Shares 40,257 (+1.7%) Est. Cost $221.50 Unrealized +50.8%

DIS Walt Disney Co. 1.1%

Value ($000) $11,565 (+5.0%) Shares 101,656 (+5.7%) Est. Cost $82.85 Unrealized +32.2%

PG Procter & Gamble 1.4%

Value ($000) $14,848 (-2.4%) Shares 103,609 (+4.6%) Est. Cost $108.19 Unrealized +36.0%

SO Southern Company 1.4%

Value ($000) $14,249 (+1.7%) Shares 163,407 (+10.5%) Est. Cost $66.72 Unrealized +36.2%

GOOG Alphabet Class-C Share 0.1%

Value ($000) $806 (+37.2%) Shares 2,567 (+6.5%) Est. Cost $194.01 Unrealized +47.6%

— Duke Energy Corp. 1.2%

Value ($000) $12,155 (-1.6%) Shares 103,702 (+3.9%) Est. Cost $111.59 Unrealized —

BKNG Booking Holdings Inc. 2.1%

Value ($000) $21,890 (+0.7%) Shares 4,087 (+1.5%) Est. Cost $2051.85 Unrealized +150.4%

IVV IShares S&P 500 Index 0.1%

Value ($000) $598 (+19.4%) Shares 873 (+16.7%) Est. Cost $671.54 Unrealized —

SPY Standard & Poors Depository Re 0.0%

Value ($000) $460 (+4.1%) Shares 674 (+1.7%) Est. Cost $518.88 Unrealized —

FE First Energy Corp. 1.3%

Value ($000) $13,632 (+0.1%) Shares 304,484 (+2.5%) Est. Cost $33.82 Unrealized +35.2%

— Mastercard Inc. 0.0%

Value ($000) $278 (+6.5%) Shares 487 (+6.1%) Est. Cost $568.93 Unrealized —

USPRX Victory 500 Index Reward Fd 0.1%

Value ($000) $662 (+2.4%) Shares 8,004 (+3.5%) Est. Cost $83.56 Unrealized —

SNVXX Schwab Government Money Inv Fd 0.0%

Value ($000) $160 (+1.9%) Shares 159,740 (+1.9%) Est. Cost $1.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMD	Advanced Micro Devices	70,521 (+2.5%)	$15,103 (+35.6%)	1.4%	$162.90	+37.9%	COM	007903107
—	Netflix Inc	217,007 (+970.8%)	$20,347 (-16.3%)	1.9%	$133.27	—	COM	64110l106
FCX	Freeport McMoran Copper & Gold	300,592 (+1.8%)	$15,267 (+31.8%)	1.5%	$41.70	+3.9%	COM	35671D857
KLAC	KLA-Tencor Corp.	12,210 (+9.1%)	$14,836 (+22.9%)	1.4%	$950.55	+23.3%	COM	482480100
AMZN	Amazon.Com Inc.	147,399 (+2.2%)	$34,023 (+7.5%)	3.3%	$123.62	+85.1%	COM	023135106
SNPS	Synopsys Corp.	25,128 (+30.0%)	$11,803 (+23.8%)	1.1%	$537.33	-17.3%	COM	871607107
HD	Home Depot Inc.	59,440 (+6.3%)	$20,454 (-9.7%)	2.0%	$136.56	+167.0%	COM	437076102
—	Chubb Limited	51,338 (+4.4%)	$16,024 (+15.5%)	1.5%	$164.44	—	COM	h1467j104
META	Meta Platforms Inc.	38,987 (+2.8%)	$25,735 (-7.6%)	2.5%	$332.84	+100.5%	COM	30303M102
MPWR	Monolithic Power Systems	7,061 (+43.8%)	$6,400 (+41.5%)	0.6%	$854.53	+12.4%	COM	609839105
LMT	Lockheed Martin Corp.	27,495 (+15.7%)	$13,299 (+12.1%)	1.3%	$459.00	+3.7%	COM	539830109
—	Prologis Inc	89,591 (+2.4%)	$11,437 (+14.2%)	1.1%	$120.23	—	COM	74340w103
BAC	Bank Of America Corp.	305,583 (+1.5%)	$16,807 (+8.2%)	1.6%	$27.68	+90.3%	COM	060505104
BRK/B	Berkshire Hathaway Inc. Cl B	36,136 (+6.0%)	$18,164 (+6.0%)	1.7%	$343.64	+44.8%	COM	084670702
—	Visa Inc.	47,483 (+3.3%)	$16,653 (+6.2%)	1.6%	$108.16	—	COM	92826c839
SHW	Sherwin-Williams Co.	40,257 (+1.7%)	$13,045 (-4.8%)	1.2%	$221.50	+50.8%	COM	824348106
DIS	Walt Disney Co.	101,656 (+5.7%)	$11,565 (+5.0%)	1.1%	$82.85	+32.2%	COM	254687106
PG	Procter & Gamble	103,609 (+4.6%)	$14,848 (-2.4%)	1.4%	$108.19	+36.0%	COM	742718109
SO	Southern Company	163,407 (+10.5%)	$14,249 (+1.7%)	1.4%	$66.72	+36.2%	COM	842587107
GOOG	Alphabet Class-C Share	2,567 (+6.5%)	$806 (+37.2%)	0.1%	$194.01	+47.6%	COM	02079K107
—	Duke Energy Corp.	103,702 (+3.9%)	$12,155 (-1.6%)	1.2%	$111.59	—	COM	26441c204
BKNG	Booking Holdings Inc.	4,087 (+1.5%)	$21,890 (+0.7%)	2.1%	$2051.85	+150.4%	COM	09857L108
IVV	IShares S&P 500 Index	873 (+16.7%)	$598 (+19.4%)	0.1%	$671.54	—	COM	464287200
SPY	Standard & Poors Depository Re	674 (+1.7%)	$460 (+4.1%)	0.0%	$518.88	—	COM	78462F103
FE	First Energy Corp.	304,484 (+2.5%)	$13,632 (+0.1%)	1.3%	$33.82	+35.2%	COM	337932107
—	Mastercard Inc.	487 (+6.1%)	$278 (+6.5%)	0.0%	$568.93	—	COM	57636q104
USPRX	Victory 500 Index Reward Fd	8,004 (+3.5%)	$662 (+2.4%)	0.1%	$83.56	—	MMF	903288769
SNVXX	Schwab Government Money Inv Fd	159,740 (+1.9%)	$160 (+1.9%)	0.0%	$1.00	—	MMF	808515613

Exited Positions (9)

VSIGX Vanguard I/T Trsy Indx 0.1%

Value ($000) $541 Shares 26,769 Est. Cost $20.22 Unrealized —

VFIRX Vanguard Short Term Trsy 0.0%

Value ($000) $504 Shares 50,707 Est. Cost $9.93 Unrealized —

ADBE Adobe Systems 0.0%

Value ($000) $256 Shares 726 Est. Cost $393.39 Unrealized -13.6%

PTSHX Pimco Short Term Fd 0.0%

Value ($000) $227 Shares 23,445 Est. Cost $9.67 Unrealized —

AZO AutoZone Inc. 0.0%

Value ($000) $219 Shares 51 Est. Cost $4011.66 Unrealized -5.8%

BSX Boston Scientific 0.0%

Value ($000) $213 Shares 2,181 Est. Cost $103.56 Unrealized -5.3%

NVR NVR Inc. 0.0%

Value ($000) $209 Shares 26 Est. Cost $7950.13 Unrealized -6.0%

— AT&T Pfd 0.0%

Value ($000) $202 Shares 8,750 Est. Cost $23.05 Unrealized —

— Pimco Inc 0.0%

Value ($000) $113 Shares 10,367 Est. Cost $10.88 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VSIGX	Vanguard I/T Trsy Indx	26,769	$541	0.1%	$20.22	—	—	92206C888
VFIRX	Vanguard Short Term Trsy	50,707	$504	0.0%	$9.93	—	—	922031851
ADBE	Adobe Systems	726	$256	0.0%	$393.39	-13.6%	—	00724F101
PTSHX	Pimco Short Term Fd	23,445	$227	0.0%	$9.67	—	—	693390601
AZO	AutoZone Inc.	51	$219	0.0%	$4011.66	-5.8%	—	053332102
BSX	Boston Scientific	2,181	$213	0.0%	$103.56	-5.3%	—	101137107
NVR	NVR Inc.	26	$209	0.0%	$7950.13	-6.0%	—	62944T105
—	AT&T Pfd	8,750	$202	0.0%	$23.05	—	—	00206r300
—	Pimco Inc	10,367	$113	0.0%	$10.88	—	—	72201f490

Decreased Positions (34)

FISV Fiserv Inc. 0.0%

Value ($000) $494 (-94.8%) Shares 7,347 (-90.1%) Est. Cost $71.54 Unrealized +17.2%

— Alphabet Inc. Class A 4.1%

Value ($000) $42,808 (+19.9%) Shares 136,768 (-6.9%) Est. Cost $128.54 Unrealized —

ORCL Oracle Systems Corp. 0.7%

Value ($000) $7,601 (-45.7%) Shares 38,998 (-21.6%) Est. Cost $254.17 Unrealized -6.3%

LLY Eli Lilly & Co 1.8%

Value ($000) $18,392 (+37.6%) Shares 17,114 (-2.3%) Est. Cost $704.76 Unrealized +35.6%

CAT Caterpillar Inc Del 2.8%

Value ($000) $29,426 (+11.7%) Shares 51,365 (-7.0%) Est. Cost $81.67 Unrealized +580.2%

— Merck & Co. 1.5%

Value ($000) $16,077 (+22.2%) Shares 152,740 (-2.6%) Est. Cost $73.51 Unrealized —

MSFT Microsoft Corp. 3.0%

Value ($000) $30,948 (-8.2%) Shares 63,992 (-1.6%) Est. Cost $78.27 Unrealized +539.6%

AMAT Applied Materials Inc. 2.3%

Value ($000) $23,730 (+12.5%) Shares 92,338 (-10.4%) Est. Cost $120.29 Unrealized +99.1%

DAL Delta Air Lines 1.6%

Value ($000) $17,151 (+17.4%) Shares 247,128 (-4.0%) Est. Cost $36.20 Unrealized +72.5%

— General Motors 1.5%

Value ($000) $15,712 (+16.5%) Shares 193,211 (-12.6%) Est. Cost $45.44 Unrealized —

— Emcor Group Inc. 0.3%

Value ($000) $3,479 (-35.3%) Shares 5,686 (-31.3%) Est. Cost $427.77 Unrealized —

TMO Thermo Fisher Scientific 1.5%

Value ($000) $16,065 (+10.8%) Shares 27,724 (-7.2%) Est. Cost $327.13 Unrealized +72.8%

LRCX Lam Research 0.7%

Value ($000) $7,518 (+26.0%) Shares 43,920 (-1.4%) Est. Cost $76.06 Unrealized +104.3%

AAPL Apple Inc. 3.3%

Value ($000) $34,225 (+4.2%) Shares 125,892 (-2.4%) Est. Cost $85.73 Unrealized +213.0%

AVGO Broadcom Inc 3.3%

Value ($000) $34,837 (-3.6%) Shares 100,655 (-8.1%) Est. Cost $144.98 Unrealized +146.2%

CRWD Crowdstrike Hldgs 1.7%

Value ($000) $17,639 (-6.7%) Shares 37,629 (-2.4%) Est. Cost $307.51 Unrealized +65.6%

ABT Abbott Laboratories 1.2%

Value ($000) $12,855 (-7.5%) Shares 102,601 (-1.1%) Est. Cost $100.92 Unrealized +26.1%

CSCO Cisco Systems 2.2%

Value ($000) $22,758 (+4.7%) Shares 295,448 (-7.0%) Est. Cost $27.50 Unrealized +168.4%

JBL Jabil Circuit, Inc. 2.9%

Value ($000) $29,978 (+3.2%) Shares 131,470 (-1.8%) Est. Cost $47.89 Unrealized +345.4%

— Equinix Inc 0.9%

Value ($000) $9,226 (-9.0%) Shares 12,041 (-7.0%) Est. Cost $832.41 Unrealized —

— NVIDIA Corp. 3.8%

Value ($000) $39,721 (-2.0%) Shares 212,982 (-2.0%) Est. Cost $127.32 Unrealized —

— Vertex Pharmctls Inc. 1.1%

Value ($000) $11,900 (+7.3%) Shares 26,249 (-7.3%) Est. Cost $432.69 Unrealized —

— Seagate Technology Holdings 2.7%

Value ($000) $28,167 (+2.9%) Shares 102,281 (-11.8%) Est. Cost $94.29 Unrealized —

QCOM Qualcomm Inc. 0.1%

Value ($000) $975 (-40.9%) Shares 5,698 (-42.5%) Est. Cost $154.10 Unrealized +10.8%

— AbbVie Inc. 1.6%

Value ($000) $16,614 (-2.8%) Shares 72,711 (-1.5%) Est. Cost $103.93 Unrealized —

CRM SalesForce Inc. 0.4%

Value ($000) $4,425 (-8.1%) Shares 16,705 (-17.8%) Est. Cost $148.93 Unrealized +66.6%

AMT American Tower Corp. 0.0%

Value ($000) $509 (-39.8%) Shares 2,900 (-34.1%) Est. Cost $175.15 Unrealized +2.9%

ORLY O'Reilly Automotive Inc. 0.1%

Value ($000) $1,076 (-19.2%) Shares 11,795 (-4.5%) Est. Cost $86.91 Unrealized +12.4%

TJX TJX Cos. Inc. 0.5%

Value ($000) $5,137 (+3.1%) Shares 33,442 (-3.0%) Est. Cost $41.27 Unrealized +257.9%

MDT Medtronic PLC 1.1%

Value ($000) $11,664 (-0.9%) Shares 121,422 (-1.7%) Est. Cost $85.44 Unrealized +13.7%

AZN Astrazeneca Plc Adr 0.0%

Value ($000) $275 (+17.7%) Shares 2,988 (-1.7%) Est. Cost $76.72 Unrealized —

VIG Vanguard Div. Appreciation 0.0%

Value ($000) $484 (-5.9%) Shares 2,200 (-7.6%) Est. Cost $215.79 Unrealized —

— Exxon Mobil Corp. 0.0%

Value ($000) $253 (+3.3%) Shares 2,098 (-3.2%) Est. Cost $116.36 Unrealized —

KO Coca-Cola Co. 0.0%

Value ($000) $278 (+0.9%) Shares 3,973 (-4.3%) Est. Cost $67.92 Unrealized +2.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FISV	Fiserv Inc.	7,347 (-90.1%)	$494 (-94.8%)	0.0%	$71.54	+17.2%	COM	337738108
—	Alphabet Inc. Class A	136,768 (-6.9%)	$42,808 (+19.9%)	4.1%	$128.54	—	COM	02079k305
ORCL	Oracle Systems Corp.	38,998 (-21.6%)	$7,601 (-45.7%)	0.7%	$254.17	-6.3%	COM	68389X105
LLY	Eli Lilly & Co	17,114 (-2.3%)	$18,392 (+37.6%)	1.8%	$704.76	+35.6%	COM	532457108
CAT	Caterpillar Inc Del	51,365 (-7.0%)	$29,426 (+11.7%)	2.8%	$81.67	+580.2%	COM	149123101
—	Merck & Co.	152,740 (-2.6%)	$16,077 (+22.2%)	1.5%	$73.51	—	COM	58933y105
MSFT	Microsoft Corp.	63,992 (-1.6%)	$30,948 (-8.2%)	3.0%	$78.27	+539.6%	COM	594918104
AMAT	Applied Materials Inc.	92,338 (-10.4%)	$23,730 (+12.5%)	2.3%	$120.29	+99.1%	COM	038222105
DAL	Delta Air Lines	247,128 (-4.0%)	$17,151 (+17.4%)	1.6%	$36.20	+72.5%	COM	247361702
—	General Motors	193,211 (-12.6%)	$15,712 (+16.5%)	1.5%	$45.44	—	COM	37045v100
—	Emcor Group Inc.	5,686 (-31.3%)	$3,479 (-35.3%)	0.3%	$427.77	—	COM	29084q100
TMO	Thermo Fisher Scientific	27,724 (-7.2%)	$16,065 (+10.8%)	1.5%	$327.13	+72.8%	COM	883556102
LRCX	Lam Research	43,920 (-1.4%)	$7,518 (+26.0%)	0.7%	$76.06	+104.3%	COM	512807306
AAPL	Apple Inc.	125,892 (-2.4%)	$34,225 (+4.2%)	3.3%	$85.73	+213.0%	COM	037833100
AVGO	Broadcom Inc	100,655 (-8.1%)	$34,837 (-3.6%)	3.3%	$144.98	+146.2%	COM	11135F101
CRWD	Crowdstrike Hldgs	37,629 (-2.4%)	$17,639 (-6.7%)	1.7%	$307.51	+65.6%	COM	22788C105
ABT	Abbott Laboratories	102,601 (-1.1%)	$12,855 (-7.5%)	1.2%	$100.92	+26.1%	COM	002824100
CSCO	Cisco Systems	295,448 (-7.0%)	$22,758 (+4.7%)	2.2%	$27.50	+168.4%	COM	17275R102
JBL	Jabil Circuit, Inc.	131,470 (-1.8%)	$29,978 (+3.2%)	2.9%	$47.89	+345.4%	COM	466313103
—	Equinix Inc	12,041 (-7.0%)	$9,226 (-9.0%)	0.9%	$832.41	—	COM	29444u700
—	NVIDIA Corp.	212,982 (-2.0%)	$39,721 (-2.0%)	3.8%	$127.32	—	COM	67066g104
—	Vertex Pharmctls Inc.	26,249 (-7.3%)	$11,900 (+7.3%)	1.1%	$432.69	—	COM	92532f100
—	Seagate Technology Holdings	102,281 (-11.8%)	$28,167 (+2.9%)	2.7%	$94.29	—	COM	G7997r103
QCOM	Qualcomm Inc.	5,698 (-42.5%)	$975 (-40.9%)	0.1%	$154.10	+10.8%	COM	747525103
—	AbbVie Inc.	72,711 (-1.5%)	$16,614 (-2.8%)	1.6%	$103.93	—	COM	00287y109
CRM	SalesForce Inc.	16,705 (-17.8%)	$4,425 (-8.1%)	0.4%	$148.93	+66.6%	COM	79466L302
AMT	American Tower Corp.	2,900 (-34.1%)	$509 (-39.8%)	0.0%	$175.15	+2.9%	COM	03027X100
ORLY	O'Reilly Automotive Inc.	11,795 (-4.5%)	$1,076 (-19.2%)	0.1%	$86.91	+12.4%	COM	67103H107
TJX	TJX Cos. Inc.	33,442 (-3.0%)	$5,137 (+3.1%)	0.5%	$41.27	+257.9%	COM	872540109
MDT	Medtronic PLC	121,422 (-1.7%)	$11,664 (-0.9%)	1.1%	$85.44	+13.7%	COM	G5960L103
AZN	Astrazeneca Plc Adr	2,988 (-1.7%)	$275 (+17.7%)	0.0%	$76.72	—	COM	046353108
VIG	Vanguard Div. Appreciation	2,200 (-7.6%)	$484 (-5.9%)	0.0%	$215.79	—	COM	921908844
—	Exxon Mobil Corp.	2,098 (-3.2%)	$253 (+3.3%)	0.0%	$116.36	—	COM	30231g102
KO	Coca-Cola Co.	3,973 (-4.3%)	$278 (+0.9%)	0.0%	$67.92	+2.2%	COM	191216100

Unchanged Positions (22)

ETN Eaton Corp. 1.9%

Value ($000) $19,603 Shares 61,547 Est. Cost $83.89 Unrealized +322.4%

— Capital One Financial 1.7%

Value ($000) $18,152 Shares 74,896 Est. Cost $64.87 Unrealized —

— Marathon Pete Corp. 1.2%

Value ($000) $12,409 Shares 76,304 Est. Cost $92.87 Unrealized —

WMT Wal Mart Stores 2.2%

Value ($000) $22,613 Shares 202,966 Est. Cost $51.29 Unrealized +109.0%

PSX Phillips 66 1.2%

Value ($000) $12,204 Shares 94,574 Est. Cost $86.90 Unrealized +54.2%

JPM J. P. Morgan 2.3%

Value ($000) $24,470 Shares 75,942 Est. Cost $76.18 Unrealized +306.3%

PEP Pepsico Inc. 1.5%

Value ($000) $15,423 Shares 107,464 Est. Cost $112.53 Unrealized +29.7%

IBIT iShares Bitcoin Trust ETF 0.1%

Value ($000) $689 Shares 13,885 Est. Cost $43.83 Unrealized —

— Evercore Inc. 1.8%

Value ($000) $19,007 Shares 55,862 Est. Cost $90.29 Unrealized —

CVX Chevron Corp. 1.1%

Value ($000) $11,276 Shares 73,982 Est. Cost $95.31 Unrealized +58.8%

SPG Simon PPTY Group 0.2%

Value ($000) $2,244 Shares 12,120 Est. Cost $108.32 Unrealized +66.2%

LOW Lowe's Companies Inc. 0.1%

Value ($000) $585 Shares 2,425 Est. Cost $83.57 Unrealized +187.0%

UNH UnitedHealth Group Inc. 0.0%

Value ($000) $469 Shares 1,420 Est. Cost $211.17 Unrealized +59.7%

— Public Storage Pfd 0.0%

Value ($000) $224 Shares 12,000 Est. Cost $22.00 Unrealized —

ALL Allstate 0.0%

Value ($000) $208 Shares 1,000 Est. Cost $58.31 Unrealized +250.0%

— US Bancorp Pfd 0.0%

Value ($000) $196 Shares 12,000 Est. Cost $24.75 Unrealized —

VTI Vanguard Total Etf 0.0%

Value ($000) $261 Shares 779 Est. Cost $328.17 Unrealized —

— Bank of America Pfd 0.0%

Value ($000) $181 Shares 10,000 Est. Cost $26.30 Unrealized —

GD General Dynamics 0.0%

Value ($000) $210 Shares 625 Est. Cost $313.76 Unrealized +8.6%

— JP Morgan PFD 0.0%

Value ($000) $201 Shares 8,000 Est. Cost $25.02 Unrealized —

MCD McDonald's Corp. 0.0%

Value ($000) $236 Shares 772 Est. Cost $301.40 Unrealized +1.2%

— Apollo Pfd 0.0%

Value ($000) $211 Shares 8,000 Est. Cost $25.93 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ETN	Eaton Corp.	61,547	$19,603	1.9%	$83.89	+322.4%	COM	G29183103
—	Capital One Financial	74,896	$18,152	1.7%	$64.87	—	COM	14040h105
—	Marathon Pete Corp.	76,304	$12,409	1.2%	$92.87	—	COM	56585a102
WMT	Wal Mart Stores	202,966	$22,613	2.2%	$51.29	+109.0%	COM	931142103
PSX	Phillips 66	94,574	$12,204	1.2%	$86.90	+54.2%	COM	718546104
JPM	J. P. Morgan	75,942	$24,470	2.3%	$76.18	+306.3%	COM	46625H100
PEP	Pepsico Inc.	107,464	$15,423	1.5%	$112.53	+29.7%	COM	713448108
IBIT	iShares Bitcoin Trust ETF	13,885	$689	0.1%	$43.83	—	COM	46438F101
—	Evercore Inc.	55,862	$19,007	1.8%	$90.29	—	COM	29977a105
CVX	Chevron Corp.	73,982	$11,276	1.1%	$95.31	+58.8%	COM	166764100
SPG	Simon PPTY Group	12,120	$2,244	0.2%	$108.32	+66.2%	COM	828806109
LOW	Lowe's Companies Inc.	2,425	$585	0.1%	$83.57	+187.0%	COM	548661107
UNH	UnitedHealth Group Inc.	1,420	$469	0.0%	$211.17	+59.7%	COM	91324P102
—	Public Storage Pfd	12,000	$224	0.0%	$22.00	—	PFD	74460w594
ALL	Allstate	1,000	$208	0.0%	$58.31	+250.0%	COM	020002101
—	US Bancorp Pfd	12,000	$196	0.0%	$24.75	—	PFD	902973718
VTI	Vanguard Total Etf	779	$261	0.0%	$328.17	—	COM	922908769
—	Bank of America Pfd	10,000	$181	0.0%	$26.30	—	PFD	06055H400
GD	General Dynamics	625	$210	0.0%	$313.76	+8.6%	COM	369550108
—	JP Morgan PFD	8,000	$201	0.0%	$25.02	—	PFD	48125e207
MCD	McDonald's Corp.	772	$236	0.0%	$301.40	+1.2%	COM	580135101
—	Apollo Pfd	8,000	$211	0.0%	$25.93	—	PFD	03769M205