Tufton Capital Management Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	QNITY ELECTRONICS INC COM	17,412	$1	0.2%	$0.08	—	COM	74743l100
—	NETFLIX INC COM	7,410	$1	0.1%	$0.09	—	COM	64110l106
—	PRICE T ROWE GROUP INC COM	6,711	$1	0.1%	$0.10	—	COM	74144t108
—	SELECT SECTOR SPDR TR STATE ST	2,906	$0	0.1%	$0.14	—	COM	81369y803
BA	BOEING CO	1,176	$0	0.0%	$205.66	0.0%	COM	097023105
—	MONGO DB INC	600	$0	0.0%	$0.42	—	COM	60937p106
—	SPDR GOLD TRUST	555	$0	0.0%	$0.39	—	COM	78463v107
MKC/V	MCCORMICK & CO INC COM VTG	3,136	$0	0.0%	$65.72	0.0%	COM	579780107
—	SALESFORCE COM INC	760	$0	0.0%	$0.26	—	COM	79466l302

Increased Positions (14)

CPK CHESAPEAKE UTILS CORP COM 2.1%

Value ($000) $12 (+22.9%) Shares 94,554 (+32.7%) Est. Cost $57.01 Unrealized +130.4%

LLY ELI LILLY AND CO 1.1%

Value ($000) $6 (+44.7%) Shares 5,889 (+2.7%) Est. Cost $694.72 Unrealized +37.5%

AMZN AMAZON COM INC COM 2.8%

Value ($000) $16 (+7.9%) Shares 69,478 (+2.7%) Est. Cost $130.20 Unrealized +75.7%

COF CAPITAL ONE FINL CORP COM 0.8%

Value ($000) $4 (+18.8%) Shares 18,184 (+4.2%) Est. Cost $100.96 Unrealized +120.1%

PG PROCTER & GAMBLE 1.6%

Value ($000) $9 (-3.7%) Shares 63,803 (+3.2%) Est. Cost $59.85 Unrealized +145.9%

VEA VANGUARD FTSE DEVELOPED MARKET 0.2%

Value ($000) $1 (+43.4%) Shares 17,681 (+37.6%) Est. Cost $28.00 Unrealized —

— NXP SEMICONDUCTORS F 1.3%

Value ($000) $7 (-3.6%) Shares 33,494 (+1.1%) Est. Cost $245.07 Unrealized —

PNC PNC FINCL SERVICES GROUP 0.3%

Value ($000) $2 (+6.6%) Shares 9,257 (+2.6%) Est. Cost $63.89 Unrealized +201.7%

— BLACKSTONE INC 0.0%

Value ($000) $0 (+18.2%) Shares 1,859 (+30.7%) Est. Cost $0.17 Unrealized —

DE DEERE CO 0.2%

Value ($000) $1 (+3.7%) Shares 2,582 (+1.8%) Est. Cost $81.85 Unrealized +471.4%

VWO VANGUARD INTL EQUITY INDEX FDS 0.2%

Value ($000) $1 (+4.0%) Shares 20,658 (+4.9%) Est. Cost $39.67 Unrealized —

— OTIS WORLDWIDE CORP 0.2%

Value ($000) $1 (-1.8%) Shares 15,533 (+2.8%) Est. Cost $56.76 Unrealized —

— INVESCO QQQ TR SER 1 0.1%

Value ($000) $0 (+4.7%) Shares 616 (+2.5%) Est. Cost $381.20 Unrealized —

— ELUTIA INC 0.0%

Value ($000) $0 (-16.7%) Shares 14,550 (+6.2%) Est. Cost $3.50 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPK	CHESAPEAKE UTILS CORP COM	94,554 (+32.7%)	$12 (+22.9%)	2.1%	$57.01	+130.4%	COM	165303108
LLY	ELI LILLY AND CO	5,889 (+2.7%)	$6 (+44.7%)	1.1%	$694.72	+37.5%	COM	532457108
AMZN	AMAZON COM INC COM	69,478 (+2.7%)	$16 (+7.9%)	2.8%	$130.20	+75.7%	COM	023135106
COF	CAPITAL ONE FINL CORP COM	18,184 (+4.2%)	$4 (+18.8%)	0.8%	$100.96	+120.1%	COM	14040H105
PG	PROCTER & GAMBLE	63,803 (+3.2%)	$9 (-3.7%)	1.6%	$59.85	+145.9%	COM	742718109
VEA	VANGUARD FTSE DEVELOPED MARKET	17,681 (+37.6%)	$1 (+43.4%)	0.2%	$28.00	—	INT	921943858
—	NXP SEMICONDUCTORS F	33,494 (+1.1%)	$7 (-3.6%)	1.3%	$245.07	—	COM	n6596x109
PNC	PNC FINCL SERVICES GROUP	9,257 (+2.6%)	$2 (+6.6%)	0.3%	$63.89	+201.7%	COM	693475105
—	BLACKSTONE INC	1,859 (+30.7%)	$0 (+18.2%)	0.0%	$0.17	—	COM	09260d107
DE	DEERE CO	2,582 (+1.8%)	$1 (+3.7%)	0.2%	$81.85	+471.4%	COM	244199105
VWO	VANGUARD INTL EQUITY INDEX FDS	20,658 (+4.9%)	$1 (+4.0%)	0.2%	$39.67	—	INT	922042858
—	OTIS WORLDWIDE CORP	15,533 (+2.8%)	$1 (-1.8%)	0.2%	$56.76	—	COM	68902v107
—	INVESCO QQQ TR SER 1	616 (+2.5%)	$0 (+4.7%)	0.1%	$381.20	—	COM	46090e103
—	ELUTIA INC	14,550 (+6.2%)	$0 (-16.7%)	0.0%	$3.50	—	COM	05479k106

Exited Positions (5)

TROW PRICE T ROWE GROUP INC COM 0.1%

Value ($000) $1 Shares 8,107 Est. Cost $96.61 Unrealized +5.8%

NFLX NETFLIX INC COM 0.1%

Value ($000) $1 Shares 659 Est. Cost $68.20 Unrealized +58.1%

XLK SELECT SECTOR SPDR SPDR TR TE 0.1%

Value ($000) $0 Shares 1,419 Est. Cost $177.52 Unrealized —

FREL FIDELITY COVINGTON TR MSCI REA 0.0%

Value ($000) $0 Shares 8,838 Est. Cost $24.81 Unrealized —

BF/B BROWN FORMAN CORP CL B 0.0%

Value ($000) $0 Shares 7,575 Est. Cost $34.12 Unrealized -18.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TROW	PRICE T ROWE GROUP INC COM	8,107	$1	0.1%	$96.61	+5.8%	—	74144T108
NFLX	NETFLIX INC COM	659	$1	0.1%	$68.20	+58.1%	—	64110L106
XLK	SELECT SECTOR SPDR SPDR TR TE	1,419	$0	0.1%	$177.52	—	—	81369Y803
FREL	FIDELITY COVINGTON TR MSCI REA	8,838	$0	0.0%	$24.81	—	—	316092857
BF/B	BROWN FORMAN CORP CL B	7,575	$0	0.0%	$34.12	-18.0%	—	115637209

Decreased Positions (56)

MSFT MICROSOFT CORP 6.1%

Value ($000) $35 (-7.8%) Shares 72,610 (-1.3%) Est. Cost $26.88 Unrealized +1762.0%

ADP AUTO DATA PROCESSING 2.3%

Value ($000) $13 (-13.8%) Shares 50,608 (-1.6%) Est. Cost $56.44 Unrealized +369.2%

— DUPONT DE NEMOURS INC IA 0.2%

Value ($000) $1 (-58.5%) Shares 31,694 (-19.6%) Est. Cost $76.75 Unrealized —

NKE NIKE INC CL B 0.8%

Value ($000) $4 (-23.2%) Shares 70,159 (-16.0%) Est. Cost $76.01 Unrealized -14.6%

— ZOETIS INC CLASS A 1.0%

Value ($000) $6 (-18.2%) Shares 46,002 (-4.9%) Est. Cost $132.88 Unrealized —

— CROWN CASTLE INC REIT 0.8%

Value ($000) $5 (-20.5%) Shares 53,925 (-13.7%) Est. Cost $135.93 Unrealized —

MDLZ MONDELEZ INTL CLASS A 1.0%

Value ($000) $6 (-16.5%) Shares 105,533 (-3.1%) Est. Cost $32.33 Unrealized +76.5%

TJX TJX COMPANIES INC 3.3%

Value ($000) $19 (+4.9%) Shares 124,104 (-1.3%) Est. Cost $43.19 Unrealized +241.9%

NVDA NVIDIA CORP COM 0.3%

Value ($000) $1 (-36.8%) Shares 7,780 (-36.7%) Est. Cost $108.08 Unrealized +72.2%

— CARRIER GLOBAL CORP 0.8%

Value ($000) $5 (-13.0%) Shares 91,500 (-1.7%) Est. Cost $31.67 Unrealized —

OXY OCCIDENTAL PETE CORP CAL 0.1%

Value ($000) $0 (-59.5%) Shares 11,219 (-53.4%) Est. Cost $47.84 Unrealized -13.1%

GLW CORNING INC 2.8%

Value ($000) $16 (+4.3%) Shares 183,819 (-2.2%) Est. Cost $15.14 Unrealized +467.8%

DHR DANAHER CORP 1.1%

Value ($000) $6 (+11.7%) Shares 27,915 (-3.3%) Est. Cost $212.83 Unrealized +3.2%

— EXXON MOBIL CORP 1.8%

Value ($000) $10 (+5.2%) Shares 86,132 (-1.4%) Est. Cost $64.60 Unrealized —

NSC NORFOLK SOUTHERN CO 1.7%

Value ($000) $10 (-4.9%) Shares 33,766 (-1.0%) Est. Cost $70.86 Unrealized +307.3%

DIS WALT DISNEY CO 1.2%

Value ($000) $7 (-6.0%) Shares 57,951 (-5.4%) Est. Cost $90.11 Unrealized +21.6%

— VERIZON COMMUNICATIONS INC 0.6%

Value ($000) $3 (-11.0%) Shares 83,773 (-4.0%) Est. Cost $57.29 Unrealized —

— PINTEREST INC CLASS A 0.1%

Value ($000) $1 (-39.9%) Shares 22,370 (-25.4%) Est. Cost $29.94 Unrealized —

DOW DOW INC REG SHS 0.1%

Value ($000) $0 (-47.3%) Shares 16,591 (-48.3%) Est. Cost $36.65 Unrealized -37.8%

— COSTCO WHOLESALE CO 0.4%

Value ($000) $2 (-12.5%) Shares 2,505 (-6.1%) Est. Cost $303.36 Unrealized —

— TARGET CORP 1.1%

Value ($000) $6 (+4.5%) Shares 65,801 (-4.1%) Est. Cost $108.13 Unrealized —

META META PLATFORMS INC CL A 0.3%

Value ($000) $2 (-15.2%) Shares 2,324 (-5.6%) Est. Cost $515.91 Unrealized +29.3%

BMY BRISTOL-MYERS SQUIBB 0.6%

Value ($000) $3 (+8.1%) Shares 64,828 (-9.6%) Est. Cost $36.07 Unrealized +31.8%

ARM ARM HOLDINGS PLC 0.1%

Value ($000) $0 (-33.1%) Shares 4,049 (-13.4%) Est. Cost $153.77 Unrealized —

— CISCO SYSTEMS INC 0.5%

Value ($000) $3 (+8.4%) Shares 36,354 (-3.8%) Est. Cost $49.91 Unrealized —

UPS UNITED PARCEL SRVC CLASS B 0.8%

Value ($000) $5 (+4.5%) Shares 48,850 (-12.0%) Est. Cost $80.35 Unrealized +15.4%

TSM TAIWAN SEMICONDUCTR F SPONSORE 1.4%

Value ($000) $8 (+2.8%) Shares 25,645 (-5.6%) Est. Cost $40.47 Unrealized —

JPM JPMORGAN CHASE & CO. COM 4.1%

Value ($000) $24 (+0.8%) Shares 73,045 (-1.3%) Est. Cost $204.96 Unrealized +51.0%

CMG CHIPOTLE MEXICAN GRILL 0.2%

Value ($000) $1 (-14.3%) Shares 28,980 (-9.2%) Est. Cost $61.10 Unrealized -40.8%

IBM INTL BUSINESS MACHINES CORP I 1.4%

Value ($000) $8 (+2.3%) Shares 26,433 (-2.5%) Est. Cost $122.68 Unrealized +143.6%

PM PHILIP MORRIS INTL 1.1%

Value ($000) $7 (-2.5%) Shares 40,549 (-1.4%) Est. Cost $56.19 Unrealized +173.3%

SYY SYSCO CORP COM 0.2%

Value ($000) $1 (-13.1%) Shares 14,148 (-2.9%) Est. Cost $24.46 Unrealized +208.7%

KO COCA COLA COMPANY 0.7%

Value ($000) $4 (+3.8%) Shares 60,219 (-1.5%) Est. Cost $34.25 Unrealized +102.6%

AXP AMERICAN EXPRESS CO COM 0.3%

Value ($000) $2 (+9.7%) Shares 4,448 (-1.4%) Est. Cost $159.41 Unrealized +123.9%

MKC MC CORMICK & CO INC 0.4%

Value ($000) $2 (-6.5%) Shares 30,608 (-8.1%) Est. Cost $66.16 Unrealized -0.4%

— SPDR S&P DIVIDEND ETF 0.3%

Value ($000) $2 (-8.1%) Shares 11,365 (-7.6%) Est. Cost $95.78 Unrealized —

BSX BOSTON SCIENTIFIC CO 0.2%

Value ($000) $1 (-12.2%) Shares 9,177 (-10.2%) Est. Cost $39.61 Unrealized +147.5%

INTC INTEL CORP 0.4%

Value ($000) $2 (+5.4%) Shares 59,374 (-4.1%) Est. Cost $17.91 Unrealized +110.9%

— ALTRIA GROUP INC 0.1%

Value ($000) $1 (-16.5%) Shares 9,380 (-4.2%) Est. Cost $43.98 Unrealized —

— BLACKROCK INC 0.1%

Value ($000) $0 (-24.1%) Shares 312 (-17.2%) Est. Cost $708.27 Unrealized —

CL COLGATE-PALMOLIVE CO 0.3%

Value ($000) $2 (-4.9%) Shares 23,618 (-3.8%) Est. Cost $45.87 Unrealized +70.7%

MDT MEDTRONIC PLC SHS 1.1%

Value ($000) $6 (-1.3%) Shares 65,366 (-2.2%) Est. Cost $78.07 Unrealized +24.4%

EPD ENTERPRISE PRODS PART LP 0.5%

Value ($000) $3 (-3.0%) Shares 83,046 (-5.3%) Est. Cost $38.38 Unrealized —

— SPDR S&P 500 ETF TR TR UNIT 0.5%

Value ($000) $3 (-2.3%) Shares 4,312 (-4.5%) Est. Cost $356.39 Unrealized —

— INTUITIVE SURGICAL INC NEW 0.1%

Value ($000) $1 (+10.1%) Shares 1,121 (-13.0%) Est. Cost $222.35 Unrealized —

LOW LOWES COS INC COM 0.1%

Value ($000) $1 (-7.3%) Shares 2,905 (-3.3%) Est. Cost $79.23 Unrealized +202.7%

INTU INTUIT INC 0.1%

Value ($000) $0 (-14.4%) Shares 484 (-11.8%) Est. Cost $413.73 Unrealized +59.7%

BRK/B BERKSHIRE HATHAWAY INC DEL CL 0.6%

Value ($000) $4 (-1.4%) Shares 7,319 (-1.3%) Est. Cost $206.34 Unrealized +141.1%

— MASTERCARD INC CLASS A 0.0%

Value ($000) $0 (-15.1%) Shares 435 (-15.5%) Est. Cost $374.79 Unrealized —

HON HONEYWELL INTL INC COM 0.1%

Value ($000) $0 (-12.1%) Shares 1,565 (-5.3%) Est. Cost $110.31 Unrealized +76.8%

— AMERIPRISE FINANCIAL, INC 0.0%

Value ($000) $0 (-14.2%) Shares 455 (-14.2%) Est. Cost $0.49 Unrealized —

— FEDEX CORP 0.0%

Value ($000) $0 (-10.0%) Shares 870 (-26.6%) Est. Cost $254.20 Unrealized —

UNP UNION PAC CORP COM 0.1%

Value ($000) $1 (-3.9%) Shares 2,695 (-1.8%) Est. Cost $175.52 Unrealized +29.5%

MCD MCDONALDS CORP COM 0.1%

Value ($000) $0 (-1.1%) Shares 1,196 (-1.6%) Est. Cost $167.48 Unrealized +82.2%

CSX CSX CORP COM 0.1%

Value ($000) $0 (+0.5%) Shares 10,940 (-1.5%) Est. Cost $21.45 Unrealized +66.4%

SHEL SHELL PLC 0.0%

Value ($000) $0 (-0.4%) Shares 3,100 (-2.9%) Est. Cost $57.37 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	72,610 (-1.3%)	$35 (-7.8%)	6.1%	$26.88	+1762.0%	COM	594918104
ADP	AUTO DATA PROCESSING	50,608 (-1.6%)	$13 (-13.8%)	2.3%	$56.44	+369.2%	COM	053015103
—	DUPONT DE NEMOURS INC IA	31,694 (-19.6%)	$1 (-58.5%)	0.2%	$76.75	—	COM	26614n102
NKE	NIKE INC CL B	70,159 (-16.0%)	$4 (-23.2%)	0.8%	$76.01	-14.6%	COM	654106103
—	ZOETIS INC CLASS A	46,002 (-4.9%)	$6 (-18.2%)	1.0%	$132.88	—	COM	98978v103
—	CROWN CASTLE INC REIT	53,925 (-13.7%)	$5 (-20.5%)	0.8%	$135.93	—	COM	22822v101
MDLZ	MONDELEZ INTL CLASS A	105,533 (-3.1%)	$6 (-16.5%)	1.0%	$32.33	+76.5%	COM	609207105
TJX	TJX COMPANIES INC	124,104 (-1.3%)	$19 (+4.9%)	3.3%	$43.19	+241.9%	COM	872540109
NVDA	NVIDIA CORP COM	7,780 (-36.7%)	$1 (-36.8%)	0.3%	$108.08	+72.2%	COM	67066G104
—	CARRIER GLOBAL CORP	91,500 (-1.7%)	$5 (-13.0%)	0.8%	$31.67	—	COM	14448c104
OXY	OCCIDENTAL PETE CORP CAL	11,219 (-53.4%)	$0 (-59.5%)	0.1%	$47.84	-13.1%	COM	674599105
GLW	CORNING INC	183,819 (-2.2%)	$16 (+4.3%)	2.8%	$15.14	+467.8%	COM	219350105
DHR	DANAHER CORP	27,915 (-3.3%)	$6 (+11.7%)	1.1%	$212.83	+3.2%	COM	235851102
—	EXXON MOBIL CORP	86,132 (-1.4%)	$10 (+5.2%)	1.8%	$64.60	—	COM	30231g102
NSC	NORFOLK SOUTHERN CO	33,766 (-1.0%)	$10 (-4.9%)	1.7%	$70.86	+307.3%	COM	655844108
DIS	WALT DISNEY CO	57,951 (-5.4%)	$7 (-6.0%)	1.2%	$90.11	+21.6%	COM	254687106
—	VERIZON COMMUNICATIONS INC	83,773 (-4.0%)	$3 (-11.0%)	0.6%	$57.29	—	COM	92343v104
—	PINTEREST INC CLASS A	22,370 (-25.4%)	$1 (-39.9%)	0.1%	$29.94	—	COM	72352l106
DOW	DOW INC REG SHS	16,591 (-48.3%)	$0 (-47.3%)	0.1%	$36.65	-37.8%	COM	260557103
—	COSTCO WHOLESALE CO	2,505 (-6.1%)	$2 (-12.5%)	0.4%	$303.36	—	COM	22160k105
—	TARGET CORP	65,801 (-4.1%)	$6 (+4.5%)	1.1%	$108.13	—	COM	87612e106
META	META PLATFORMS INC CL A	2,324 (-5.6%)	$2 (-15.2%)	0.3%	$515.91	+29.3%	COM	30303M102
BMY	BRISTOL-MYERS SQUIBB	64,828 (-9.6%)	$3 (+8.1%)	0.6%	$36.07	+31.8%	COM	110122108
ARM	ARM HOLDINGS PLC	4,049 (-13.4%)	$0 (-33.1%)	0.1%	$153.77	—	COM	042068205
—	CISCO SYSTEMS INC	36,354 (-3.8%)	$3 (+8.4%)	0.5%	$49.91	—	COM	17275r102
UPS	UNITED PARCEL SRVC CLASS B	48,850 (-12.0%)	$5 (+4.5%)	0.8%	$80.35	+15.4%	COM	911312106
TSM	TAIWAN SEMICONDUCTR F SPONSORE	25,645 (-5.6%)	$8 (+2.8%)	1.4%	$40.47	—	INT	874039100
JPM	JPMORGAN CHASE & CO. COM	73,045 (-1.3%)	$24 (+0.8%)	4.1%	$204.96	+51.0%	COM	46625H100
CMG	CHIPOTLE MEXICAN GRILL	28,980 (-9.2%)	$1 (-14.3%)	0.2%	$61.10	-40.8%	COM	169656105
IBM	INTL BUSINESS MACHINES CORP I	26,433 (-2.5%)	$8 (+2.3%)	1.4%	$122.68	+143.6%	COM	459200101
PM	PHILIP MORRIS INTL	40,549 (-1.4%)	$7 (-2.5%)	1.1%	$56.19	+173.3%	COM	718172109
SYY	SYSCO CORP COM	14,148 (-2.9%)	$1 (-13.1%)	0.2%	$24.46	+208.7%	COM	871829107
KO	COCA COLA COMPANY	60,219 (-1.5%)	$4 (+3.8%)	0.7%	$34.25	+102.6%	COM	191216100
AXP	AMERICAN EXPRESS CO COM	4,448 (-1.4%)	$2 (+9.7%)	0.3%	$159.41	+123.9%	COM	025816109
MKC	MC CORMICK & CO INC	30,608 (-8.1%)	$2 (-6.5%)	0.4%	$66.16	-0.4%	COM	579780206
—	SPDR S&P DIVIDEND ETF	11,365 (-7.6%)	$2 (-8.1%)	0.3%	$95.78	—	COM	78464a763
BSX	BOSTON SCIENTIFIC CO	9,177 (-10.2%)	$1 (-12.2%)	0.2%	$39.61	+147.5%	COM	101137107
INTC	INTEL CORP	59,374 (-4.1%)	$2 (+5.4%)	0.4%	$17.91	+110.9%	COM	458140100
—	ALTRIA GROUP INC	9,380 (-4.2%)	$1 (-16.5%)	0.1%	$43.98	—	COM	02209s103
—	BLACKROCK INC	312 (-17.2%)	$0 (-24.1%)	0.1%	$708.27	—	COM	09290d101
CL	COLGATE-PALMOLIVE CO	23,618 (-3.8%)	$2 (-4.9%)	0.3%	$45.87	+70.7%	COM	194162103
MDT	MEDTRONIC PLC SHS	65,366 (-2.2%)	$6 (-1.3%)	1.1%	$78.07	+24.4%	COM	G5960L103
EPD	ENTERPRISE PRODS PART LP	83,046 (-5.3%)	$3 (-3.0%)	0.5%	$38.38	—	COM	293792107
—	SPDR S&P 500 ETF TR TR UNIT	4,312 (-4.5%)	$3 (-2.3%)	0.5%	$356.39	—	COM	78462f103
—	INTUITIVE SURGICAL INC NEW	1,121 (-13.0%)	$1 (+10.1%)	0.1%	$222.35	—	COM	46120e602
LOW	LOWES COS INC COM	2,905 (-3.3%)	$1 (-7.3%)	0.1%	$79.23	+202.7%	COM	548661107
INTU	INTUIT INC	484 (-11.8%)	$0 (-14.4%)	0.1%	$413.73	+59.7%	COM	461202103
BRK/B	BERKSHIRE HATHAWAY INC DEL CL	7,319 (-1.3%)	$4 (-1.4%)	0.6%	$206.34	+141.1%	COM	084670702
—	MASTERCARD INC CLASS A	435 (-15.5%)	$0 (-15.1%)	0.0%	$374.79	—	COM	57636q104
HON	HONEYWELL INTL INC COM	1,565 (-5.3%)	$0 (-12.1%)	0.1%	$110.31	+76.8%	COM	438516106
—	AMERIPRISE FINANCIAL, INC	455 (-14.2%)	$0 (-14.2%)	0.0%	$0.49	—	COM	03076c106
—	FEDEX CORP	870 (-26.6%)	$0 (-10.0%)	0.0%	$254.20	—	COM	31428x106
UNP	UNION PAC CORP COM	2,695 (-1.8%)	$1 (-3.9%)	0.1%	$175.52	+29.5%	COM	907818108
MCD	MCDONALDS CORP COM	1,196 (-1.6%)	$0 (-1.1%)	0.1%	$167.48	+82.2%	COM	580135101
CSX	CSX CORP COM	10,940 (-1.5%)	$0 (+0.5%)	0.1%	$21.45	+66.4%	COM	126408103
SHEL	SHELL PLC	3,100 (-2.9%)	$0 (-0.4%)	0.0%	$57.37	—	INT	780259305

Unchanged Positions (43)

— ALPHABET INC. CLASS C 4.8%

Value ($000) $28 Shares 88,091 Est. Cost $182.22 Unrealized —

CAT CATERPILLAR INC 2.5%

Value ($000) $14 Shares 24,701 Est. Cost $67.06 Unrealized +728.3%

— MERCK & CO. INC. 1.8%

Value ($000) $11 Shares 100,265 Est. Cost $83.83 Unrealized —

AAPL APPLE INC COM 4.8%

Value ($000) $27 Shares 100,588 Est. Cost $95.50 Unrealized +181.0%

GOOGL ALPHABET INC CAP STK CL A 1.2%

Value ($000) $7 Shares 22,649 Est. Cost $166.73 Unrealized +71.3%

JNJ JOHNSON & JOHNSON 2.0%

Value ($000) $11 Shares 55,015 Est. Cost $67.93 Unrealized +190.0%

— RTX CORP 2.3%

Value ($000) $13 Shares 71,463 Est. Cost $97.53 Unrealized —

WFC WELLS FARGO & CO 1.9%

Value ($000) $11 Shares 119,523 Est. Cost $32.13 Unrealized +169.6%

— CHUBB LTD COM 1.9%

Value ($000) $11 Shares 34,142 Est. Cost $124.50 Unrealized —

BAC BANK OF AMERICA CORP 2.2%

Value ($000) $13 Shares 232,597 Est. Cost $19.40 Unrealized +171.5%

DLR DIGITAL REALTY TRUST REIT 1.1%

Value ($000) $6 Shares 40,441 Est. Cost $123.75 Unrealized +31.8%

ABT ABBOTT LABORATORIES 1.5%

Value ($000) $8 Shares 66,489 Est. Cost $37.97 Unrealized +235.3%

LMT LOCKHEED MARTIN CORP 1.6%

Value ($000) $9 Shares 18,742 Est. Cost $145.36 Unrealized +227.6%

QCOM QUALCOMM INC 2.0%

Value ($000) $12 Shares 68,312 Est. Cost $49.54 Unrealized +244.7%

— DUKE ENERGY CORP 0.9%

Value ($000) $5 Shares 42,642 Est. Cost $95.25 Unrealized —

— ABBVIE INC 2.2%

Value ($000) $13 Shares 55,092 Est. Cost $182.10 Unrealized —

CVX CHEVRON CORP 1.8%

Value ($000) $10 Shares 66,697 Est. Cost $75.91 Unrealized +99.4%

IVV ISHARES CORE S&P 500 ETF 0.9%

Value ($000) $5 Shares 7,263 Est. Cost $389.85 Unrealized —

DIA SPDR DOW JONES INDL AVERAGE ET 0.7%

Value ($000) $4 Shares 8,671 Est. Cost $349.00 Unrealized —

ELV ELEVANCE HEALTH INC COM 0.3%

Value ($000) $1 Shares 4,124 Est. Cost $105.54 Unrealized +219.0%

— 3M CO 0.9%

Value ($000) $5 Shares 30,401 Est. Cost $145.47 Unrealized —

HD HOME DEPOT INC 0.1%

Value ($000) $0 Shares 1,356 Est. Cost $207.37 Unrealized +75.8%

SLB SCHLUMBERGER LTD 0.1%

Value ($000) $1 Shares 20,459 Est. Cost $30.35 Unrealized +18.8%

EMR EMERSON ELECTRIC CO 1.7%

Value ($000) $10 Shares 72,718 Est. Cost $40.01 Unrealized +230.8%

— EATON CORP PLC 0.1%

Value ($000) $0 Shares 1,325 Est. Cost $176.15 Unrealized —

PEP PEPSICO INC 0.8%

Value ($000) $4 Shares 30,198 Est. Cost $59.57 Unrealized +144.9%

IEFA ISHARES TR CORE MSCI EAFE ETF 0.3%

Value ($000) $2 Shares 18,853 Est. Cost $67.55 Unrealized —

WMT WALMART INC COM 0.1%

Value ($000) $1 Shares 7,249 Est. Cost $47.64 Unrealized +125.0%

WRB W R BERKLEY CORP 0.1%

Value ($000) $1 Shares 7,385 Est. Cost $45.70 Unrealized +59.2%

NEE NEXTERA ENERGY INC COM 0.1%

Value ($000) $1 Shares 9,700 Est. Cost $70.00 Unrealized +17.9%

GS GOLDMAN SACHS GROUP INC COM 0.1%

Value ($000) $0 Shares 475 Est. Cost $423.71 Unrealized +92.0%

APD AIR PRODS & CHEMS INC COM 0.1%

Value ($000) $0 Shares 1,510 Est. Cost $113.13 Unrealized +122.4%

GEV GE VERNOVA INC COM 0.1%

Value ($000) $0 Shares 623 Est. Cost $348.14 Unrealized +74.9%

SYK STRYKER CORP 0.1%

Value ($000) $0 Shares 955 Est. Cost $235.90 Unrealized +54.1%

GE GE AEROSPACE COM NEW 0.1%

Value ($000) $1 Shares 2,425 Est. Cost $77.16 Unrealized +289.8%

— VISA INC CLASS A 0.2%

Value ($000) $1 Shares 2,930 Est. Cost $212.74 Unrealized —

IGM ISHARES TR NORTH AMERN TECH ET 0.1%

Value ($000) $1 Shares 5,575 Est. Cost $94.90 Unrealized —

IJR ISHARES CORE S&P SMALL-CAP ETF 0.2%

Value ($000) $1 Shares 7,683 Est. Cost $82.86 Unrealized —

IJH ISHARES CORE S&P MID-CAP ETF 0.2%

Value ($000) $1 Shares 17,383 Est. Cost $85.68 Unrealized —

— ISHARES INC CORE MSCI EMERGI 0.1%

Value ($000) $1 Shares 11,274 Est. Cost $54.45 Unrealized —

VEU VANGUARD FTSE ALL WORLD EX US 0.0%

Value ($000) $0 Shares 3,270 Est. Cost $0.07 Unrealized —

TSLA TESLA INC COM 0.0%

Value ($000) $0 Shares 570 Est. Cost $346.84 Unrealized +27.8%

— ECOSPHERE TECHNOLOGIES INC COM 0.0%

Value ($000) $0 Shares 10,500 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ALPHABET INC. CLASS C	88,091	$28	4.8%	$182.22	—	COM	02079k107
CAT	CATERPILLAR INC	24,701	$14	2.5%	$67.06	+728.3%	COM	149123101
—	MERCK & CO. INC.	100,265	$11	1.8%	$83.83	—	COM	58933y105
AAPL	APPLE INC COM	100,588	$27	4.8%	$95.50	+181.0%	COM	037833100
GOOGL	ALPHABET INC CAP STK CL A	22,649	$7	1.2%	$166.73	+71.3%	COM	02079K305
JNJ	JOHNSON & JOHNSON	55,015	$11	2.0%	$67.93	+190.0%	COM	478160104
—	RTX CORP	71,463	$13	2.3%	$97.53	—	COM	75513e101
WFC	WELLS FARGO & CO	119,523	$11	1.9%	$32.13	+169.6%	COM	949746101
—	CHUBB LTD COM	34,142	$11	1.9%	$124.50	—	COM	h1467j104
BAC	BANK OF AMERICA CORP	232,597	$13	2.2%	$19.40	+171.5%	COM	060505104
DLR	DIGITAL REALTY TRUST REIT	40,441	$6	1.1%	$123.75	+31.8%	COM	253868103
ABT	ABBOTT LABORATORIES	66,489	$8	1.5%	$37.97	+235.3%	COM	002824100
LMT	LOCKHEED MARTIN CORP	18,742	$9	1.6%	$145.36	+227.6%	COM	539830109
QCOM	QUALCOMM INC	68,312	$12	2.0%	$49.54	+244.7%	COM	747525103
—	DUKE ENERGY CORP	42,642	$5	0.9%	$95.25	—	COM	26441c204
—	ABBVIE INC	55,092	$13	2.2%	$182.10	—	COM	00287y109
CVX	CHEVRON CORP	66,697	$10	1.8%	$75.91	+99.4%	COM	166764100
IVV	ISHARES CORE S&P 500 ETF	7,263	$5	0.9%	$389.85	—	COM	464287200
DIA	SPDR DOW JONES INDL AVERAGE ET	8,671	$4	0.7%	$349.00	—	COM	78467X109
ELV	ELEVANCE HEALTH INC COM	4,124	$1	0.3%	$105.54	+219.0%	COM	036752103
—	3M CO	30,401	$5	0.9%	$145.47	—	COM	88579y101
HD	HOME DEPOT INC	1,356	$0	0.1%	$207.37	+75.8%	COM	437076102
SLB	SCHLUMBERGER LTD	20,459	$1	0.1%	$30.35	+18.8%	COM	806857108
EMR	EMERSON ELECTRIC CO	72,718	$10	1.7%	$40.01	+230.8%	COM	291011104
—	EATON CORP PLC	1,325	$0	0.1%	$176.15	—	COM	g29183103
PEP	PEPSICO INC	30,198	$4	0.8%	$59.57	+144.9%	COM	713448108
IEFA	ISHARES TR CORE MSCI EAFE ETF	18,853	$2	0.3%	$67.55	—	INT	46432F842
WMT	WALMART INC COM	7,249	$1	0.1%	$47.64	+125.0%	COM	931142103
WRB	W R BERKLEY CORP	7,385	$1	0.1%	$45.70	+59.2%	COM	084423102
NEE	NEXTERA ENERGY INC COM	9,700	$1	0.1%	$70.00	+17.9%	COM	65339F101
GS	GOLDMAN SACHS GROUP INC COM	475	$0	0.1%	$423.71	+92.0%	COM	38141G104
APD	AIR PRODS & CHEMS INC COM	1,510	$0	0.1%	$113.13	+122.4%	COM	009158106
GEV	GE VERNOVA INC COM	623	$0	0.1%	$348.14	+74.9%	COM	36828A101
SYK	STRYKER CORP	955	$0	0.1%	$235.90	+54.1%	COM	863667101
GE	GE AEROSPACE COM NEW	2,425	$1	0.1%	$77.16	+289.8%	COM	369604301
—	VISA INC CLASS A	2,930	$1	0.2%	$212.74	—	COM	92826c839
IGM	ISHARES TR NORTH AMERN TECH ET	5,575	$1	0.1%	$94.90	—	COM	464287549
IJR	ISHARES CORE S&P SMALL-CAP ETF	7,683	$1	0.2%	$82.86	—	COM	464287804
IJH	ISHARES CORE S&P MID-CAP ETF	17,383	$1	0.2%	$85.68	—	COM	464287507
—	ISHARES INC CORE MSCI EMERGI	11,274	$1	0.1%	$54.45	—	INT	46434g103
VEU	VANGUARD FTSE ALL WORLD EX US	3,270	$0	0.0%	$0.07	—	INT	922042775
TSLA	TESLA INC COM	570	$0	0.0%	$346.84	+27.8%	COM	88160R101
—	ECOSPHERE TECHNOLOGIES INC COM	10,500	$0	0.0%	—	—	COM	27922x105