DAVIDSON INVESTMENT ADVISORS Diversified Active

CIK: 0001140771 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 27, 2026

Total Value ($000): $2,403,118 (100.0% shares, 0.0% debt)

Holdings (119)

New Positions (3)

SARO STANDARDAERO INC 0.5%

Value ($000) $12,843 Shares 447,800 Est. Cost $27.23 Unrealized 0.0%

SOLS SOLSTICE ADVANCED 0.2%

Value ($000) $5,485 Shares 112,904 Est. Cost $47.08 Unrealized 0.0%

BSV VANGUARD BD INDEX FD 0.0%

Value ($000) $315 Shares 4,000 Est. Cost $78.81 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SARO	STANDARDAERO INC	447,800	$12,843	0.5%	$27.23	0.0%	COMMON STOCK	85423L103
SOLS	SOLSTICE ADVANCED	112,904	$5,485	0.2%	$47.08	0.0%	COMMON	83443Q103
BSV	VANGUARD BD INDEX FD	4,000	$315	0.0%	$78.81	—	ETF SHORT TRM BOND	921937827

Increased Positions (39)

H HYATT HOTELS CORP 1.8%

Value ($000) $43,675 (+337.2%) Shares 272,421 (+287.0%) Est. Cost $150.55 Unrealized +1.7%

META META PLATFORMS INC 2.2%

Value ($000) $53,033 (+80.5%) Shares 80,341 (+100.9%) Est. Cost $651.96 Unrealized +2.4%

IXUS ISHARES TR 7.3%

Value ($000) $174,996 (+5.6%) Shares 2,067,533 (+3.0%) Est. Cost $78.26 Unrealized —

NFLX NETFLIX INC 1.1%

Value ($000) $25,566 (-21.9%) Shares 272,674 (+898.9%) Est. Cost $99.77 Unrealized +8.1%

VRTX VERTEX PHARMA 1.2%

Value ($000) $29,118 (+19.1%) Shares 64,227 (+2.9%) Est. Cost $297.62 Unrealized +44.8%

ICE INTER CONTINENTAL EX 0.8%

Value ($000) $19,571 (+24.8%) Shares 120,838 (+29.8%) Est. Cost $153.96 Unrealized +1.5%

FIBK FIRST INTST BANCSYS 0.7%

Value ($000) $16,661 (+29.5%) Shares 481,538 (+19.2%) Est. Cost $29.95 Unrealized +7.3%

BA BOEING CO 0.9%

Value ($000) $22,561 (+19.4%) Shares 103,910 (+18.7%) Est. Cost $161.42 Unrealized +27.4%

AVGO BROADCOM INC 2.1%

Value ($000) $50,150 (+7.2%) Shares 144,899 (+2.2%) Est. Cost $170.08 Unrealized +109.9%

PM PHILIP MORRIS INTL 0.8%

Value ($000) $18,723 (+20.4%) Shares 116,725 (+21.8%) Est. Cost $76.03 Unrealized +102.0%

BRBR BELLRING BRANDS INC 0.3%

Value ($000) $8,036 (-25.5%) Shares 300,633 (+1.3%) Est. Cost $66.26 Unrealized -53.2%

VFMO VANGUARD U.S 1.2%

Value ($000) $28,035 (+4.7%) Shares 146,589 (+4.9%) Est. Cost $141.16 Unrealized —

EUSA ISHARES MSCI USA 1.0%

Value ($000) $24,245 (+5.3%) Shares 234,544 (+4.9%) Est. Cost $82.09 Unrealized —

ITM VANECK ETF TR 0.8%

Value ($000) $18,231 (+5.8%) Shares 386,572 (+4.6%) Est. Cost $46.45 Unrealized —

VTHR VANGUARD SCOTTSDAL 0.1%

Value ($000) $1,587 (+103.7%) Shares 5,283 (+99.6%) Est. Cost $287.42 Unrealized —

STZ CONSTELLATION BRANDS 0.7%

Value ($000) $16,125 (+4.9%) Shares 116,883 (+2.4%) Est. Cost $204.80 Unrealized -33.2%

FTNT FORTINET INC 0.9%

Value ($000) $21,755 (-3.2%) Shares 273,952 (+2.5%) Est. Cost $59.27 Unrealized +39.9%

CMCSA COMCAST CORP 0.6%

Value ($000) $14,891 (+4.8%) Shares 498,197 (+10.1%) Est. Cost $31.47 Unrealized -9.3%

NVDA NVIDIA CORP 2.4%

Value ($000) $56,637 (+1.2%) Shares 303,681 (+1.2%) Est. Cost $139.41 Unrealized +33.5%

WAFD WAFD INC 0.4%

Value ($000) $10,006 (+6.9%) Shares 312,403 (+1.1%) Est. Cost $27.16 Unrealized +12.3%

SPY SPDR S&P 500 ETF TR 0.0%

Value ($000) $876 (+239.0%) Shares 1,285 (+231.2%) Est. Cost $648.45 Unrealized —

VTEB VANGUARD MUN BD FD 0.8%

Value ($000) $18,704 (+3.2%) Shares 371,923 (+2.8%) Est. Cost $50.48 Unrealized —

GOOGL ALPHABET INC 0.1%

Value ($000) $1,649 (+37.8%) Shares 5,267 (+7.1%) Est. Cost $129.18 Unrealized +121.1%

LIN LINDE PLC 0.4%

Value ($000) $9,818 (+4.5%) Shares 23,025 (+16.4%) Est. Cost $449.19 Unrealized -4.9%

VOO VANGUARD INDEX FDS 0.0%

Value ($000) $889 (+70.5%) Shares 1,417 (+66.5%) Est. Cost $511.74 Unrealized —

DGRO ISHARES TR 0.4%

Value ($000) $9,409 (+3.7%) Shares 135,539 (+1.7%) Est. Cost $56.91 Unrealized —

CAT CATERPILLAR INC 0.0%

Value ($000) $819 (+32.1%) Shares 1,429 (+10.0%) Est. Cost $131.35 Unrealized +322.9%

EQT EQT CORP 0.4%

Value ($000) $9,881 (+1.8%) Shares 184,355 (+3.3%) Est. Cost $52.73 Unrealized +6.4%

— ABBVIE INC 0.0%

Value ($000) $806 (+18.9%) Shares 3,527 (+20.5%) Est. Cost $131.31 Unrealized —

COST COSTCO WHSL CORP 0.0%

Value ($000) $910 (+10.8%) Shares 1,055 (+18.9%) Est. Cost $589.04 Unrealized +53.8%

IWV ISHARES 0.0%

Value ($000) $406 (+19.1%) Shares 1,050 (+16.7%) Est. Cost $260.46 Unrealized —

JPM JPMORGAN CHASE & CO 0.1%

Value ($000) $1,338 (+3.6%) Shares 4,152 (+1.4%) Est. Cost $89.08 Unrealized +247.5%

IWF ISHARES 0.0%

Value ($000) $339 (+14.5%) Shares 717 (+13.3%) Est. Cost $378.68 Unrealized —

DE DEERE & CO 0.0%

Value ($000) $314 (+11.8%) Shares 674 (+9.8%) Est. Cost $396.51 Unrealized +18.0%

PFF ISHARES TR 0.1%

Value ($000) $3,527 (-0.7%) Shares 113,909 (+1.4%) Est. Cost $31.06 Unrealized —

TSLA TESLA INC 0.0%

Value ($000) $400 (+2.3%) Shares 890 (+1.1%) Est. Cost $241.95 Unrealized +83.2%

IUSB ISHARES TR 0.0%

Value ($000) $551 (+0.9%) Shares 11,832 (+1.3%) Est. Cost $45.04 Unrealized —

ABT ABBOTT LABS 0.0%

Value ($000) $411 (+1.3%) Shares 3,278 (+8.3%) Est. Cost $47.96 Unrealized +165.4%

BRK/B BERKSHIRE HATHAWAY 0.0%

Value ($000) $282 (+1.4%) Shares 562 (+1.4%) Est. Cost $470.45 Unrealized +5.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
H	HYATT HOTELS CORP	272,421 (+287.0%)	$43,675 (+337.2%)	1.8%	$150.55	+1.7%	CLASS A	448579102
META	META PLATFORMS INC	80,341 (+100.9%)	$53,033 (+80.5%)	2.2%	$651.96	+2.4%	COM USD0.000006 CL A	30303M102
IXUS	ISHARES TR	2,067,533 (+3.0%)	$174,996 (+5.6%)	7.3%	$78.26	—	CORE MSCITOTAL	46432F834
NFLX	NETFLIX INC	272,674 (+898.9%)	$25,566 (-21.9%)	1.1%	$99.77	+8.1%	COMMON	64110L106
VRTX	VERTEX PHARMA	64,227 (+2.9%)	$29,118 (+19.1%)	1.2%	$297.62	+44.8%	COMMON	92532F100
ICE	INTER CONTINENTAL EX	120,838 (+29.8%)	$19,571 (+24.8%)	0.8%	$153.96	+1.5%	COM	45866F104
FIBK	FIRST INTST BANCSYS	481,538 (+19.2%)	$16,661 (+29.5%)	0.7%	$29.95	+7.3%	CLASS A	32055Y201
BA	BOEING CO	103,910 (+18.7%)	$22,561 (+19.4%)	0.9%	$161.42	+27.4%	COMMON	097023105
AVGO	BROADCOM INC	144,899 (+2.2%)	$50,150 (+7.2%)	2.1%	$170.08	+109.9%	COMMON	11135F101
PM	PHILIP MORRIS INTL	116,725 (+21.8%)	$18,723 (+20.4%)	0.8%	$76.03	+102.0%	COMMON	718172109
BRBR	BELLRING BRANDS INC	300,633 (+1.3%)	$8,036 (-25.5%)	0.3%	$66.26	-53.2%	COM USD0.01	07831C103
VFMO	VANGUARD U.S	146,589 (+4.9%)	$28,035 (+4.7%)	1.2%	$141.16	—	MOMENTUM FACTOR ETF	921935508
EUSA	ISHARES MSCI USA	234,544 (+4.9%)	$24,245 (+5.3%)	1.0%	$82.09	—	EQUAL WEIGHTED ETF	464286681
ITM	VANECK ETF TR	386,572 (+4.6%)	$18,231 (+5.8%)	0.8%	$46.45	—	AMT FREE INTMUNETF	92189H201
VTHR	VANGUARD SCOTTSDAL	5,283 (+99.6%)	$1,587 (+103.7%)	0.1%	$287.42	—	FDS VNG RUS3000IDX	92206C599
STZ	CONSTELLATION BRANDS	116,883 (+2.4%)	$16,125 (+4.9%)	0.7%	$204.80	-33.2%	CLASS A	21036P108
FTNT	FORTINET INC	273,952 (+2.5%)	$21,755 (-3.2%)	0.9%	$59.27	+39.9%	COMMON	34959E109
CMCSA	COMCAST CORP	498,197 (+10.1%)	$14,891 (+4.8%)	0.6%	$31.47	-9.3%	CLASS A	20030N101
NVDA	NVIDIA CORP	303,681 (+1.2%)	$56,637 (+1.2%)	2.4%	$139.41	+33.5%	COMMON	67066G104
WAFD	WAFD INC	312,403 (+1.1%)	$10,006 (+6.9%)	0.4%	$27.16	+12.3%	COMMON	938824109
SPY	SPDR S&P 500 ETF TR	1,285 (+231.2%)	$876 (+239.0%)	0.0%	$648.45	—	UNITS SER 1 S&P	78462F103
VTEB	VANGUARD MUN BD FD	371,923 (+2.8%)	$18,704 (+3.2%)	0.8%	$50.48	—	INC TAX-EXEMPT BD	922907746
GOOGL	ALPHABET INC	5,267 (+7.1%)	$1,649 (+37.8%)	0.1%	$129.18	+121.1%	CLASS A	02079K305
LIN	LINDE PLC	23,025 (+16.4%)	$9,818 (+4.5%)	0.4%	$449.19	-4.9%	SHS	G54950103
VOO	VANGUARD INDEX FDS	1,417 (+66.5%)	$889 (+70.5%)	0.0%	$511.74	—	S&P 500 ETF SHS	922908363
DGRO	ISHARES TR	135,539 (+1.7%)	$9,409 (+3.7%)	0.4%	$56.91	—	CORE DIV GRWTH	46434V621
CAT	CATERPILLAR INC	1,429 (+10.0%)	$819 (+32.1%)	0.0%	$131.35	+322.9%	COMMON	149123101
EQT	EQT CORP	184,355 (+3.3%)	$9,881 (+1.8%)	0.4%	$52.73	+6.4%	COM	26884L109
—	ABBVIE INC	3,527 (+20.5%)	$806 (+18.9%)	0.0%	$131.31	—	COMMON	00287y109
COST	COSTCO WHSL CORP	1,055 (+18.9%)	$910 (+10.8%)	0.0%	$589.04	+53.8%	COMMON	22160K105
IWV	ISHARES	1,050 (+16.7%)	$406 (+19.1%)	0.0%	$260.46	—	RUSSELL 3000 ETF	464287689
JPM	JPMORGAN CHASE & CO	4,152 (+1.4%)	$1,338 (+3.6%)	0.1%	$89.08	+247.5%	COMMON	46625H100
IWF	ISHARES	717 (+13.3%)	$339 (+14.5%)	0.0%	$378.68	—	RUS 1000 GRW ETF	464287614
DE	DEERE & CO	674 (+9.8%)	$314 (+11.8%)	0.0%	$396.51	+18.0%	COMMON	244199105
PFF	ISHARES TR	113,909 (+1.4%)	$3,527 (-0.7%)	0.1%	$31.06	—	PFD AND INCM SEC	464288687
TSLA	TESLA INC	890 (+1.1%)	$400 (+2.3%)	0.0%	$241.95	+83.2%	COM	88160R101
IUSB	ISHARES TR	11,832 (+1.3%)	$551 (+0.9%)	0.0%	$45.04	—	CORE UNIVERSAL USD	46434V613
ABT	ABBOTT LABS	3,278 (+8.3%)	$411 (+1.3%)	0.0%	$47.96	+165.4%	COMMON	002824100
BRK/B	BERKSHIRE HATHAWAY	562 (+1.4%)	$282 (+1.4%)	0.0%	$470.45	+5.8%	CLASS B	084670702

Exited Positions (6)

APTV APTIV PLC 0.9%

Value ($000) $21,268 Shares 246,675 Est. Cost $61.45 Unrealized +30.7%

IFF INTL FLAVORS & FRAGR 0.3%

Value ($000) $7,568 Shares 122,984 Est. Cost $86.82 Unrealized -25.8%

VCIT VANGUARD 0.0%

Value ($000) $307 Shares 3,650 Est. Cost $80.38 Unrealized —

IGSB ISHARES TR 0.0%

Value ($000) $264 Shares 4,975 Est. Cost $50.55 Unrealized —

PG PROCTER AND GAMBLE 0.0%

Value ($000) $233 Shares 1,516 Est. Cost $154.90 Unrealized -5.0%

EQIX EQUINIX INC 0.0%

Value ($000) $202 Shares 258 Est. Cost $384.11 Unrealized +103.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
APTV	APTIV PLC	246,675	$21,268	0.9%	$61.45	+30.7%	—	G3265R107
IFF	INTL FLAVORS & FRAGR	122,984	$7,568	0.3%	$86.82	-25.8%	—	459506101
VCIT	VANGUARD	3,650	$307	0.0%	$80.38	—	—	92206C870
IGSB	ISHARES TR	4,975	$264	0.0%	$50.55	—	—	464288646
PG	PROCTER AND GAMBLE	1,516	$233	0.0%	$154.90	-5.0%	—	742718109
EQIX	EQUINIX INC	258	$202	0.0%	$384.11	+103.4%	—	29444U700

Decreased Positions (39)

HON HONEYWELL INTL INC 1.0%

Value ($000) $23,032 (-42.7%) Shares 118,057 (-38.2%) Est. Cost $164.63 Unrealized +18.5%

SO SOUTHERN CO 0.0%

Value ($000) $695 (-95.7%) Shares 7,975 (-95.4%) Est. Cost $37.21 Unrealized +144.3%

GOOG ALPHABET INC 4.9%

Value ($000) $118,198 (+7.9%) Shares 376,668 (-16.3%) Est. Cost $109.66 Unrealized +161.1%

C CITIGROUP INC 2.1%

Value ($000) $50,389 (+13.4%) Shares 431,816 (-1.3%) Est. Cost $49.34 Unrealized +110.1%

HD HOME DEPOT INC 0.9%

Value ($000) $21,943 (-19.5%) Shares 63,768 (-5.2%) Est. Cost $352.18 Unrealized +3.5%

TMUS T-MOBILE US INC 0.8%

Value ($000) $19,740 (-18.1%) Shares 97,223 (-3.4%) Est. Cost $104.81 Unrealized +101.6%

FDX FEDEX CORP 1.0%

Value ($000) $25,002 (+21.1%) Shares 86,555 (-1.1%) Est. Cost $188.53 Unrealized +38.7%

DT DYNATRACE HOLDINGS 0.7%

Value ($000) $17,946 (-17.0%) Shares 414,070 (-7.2%) Est. Cost $49.97 Unrealized -6.7%

RTX RTX CORPORATION 2.1%

Value ($000) $49,423 (+7.8%) Shares 269,480 (-1.6%) Est. Cost $74.47 Unrealized +132.7%

CUBE CUBESMART 0.6%

Value ($000) $15,360 (-17.9%) Shares 426,074 (-7.4%) Est. Cost $33.85 Unrealized —

PYPL PAYPAL HLDGS INC 0.6%

Value ($000) $14,849 (-17.2%) Shares 254,355 (-4.9%) Est. Cost $72.99 Unrealized -11.2%

ELAN ELANCO ANIMAL HEALTH 0.6%

Value ($000) $15,408 (-15.4%) Shares 680,867 (-24.7%) Est. Cost $11.00 Unrealized +97.8%

JMST JPMORGAN 0.4%

Value ($000) $10,265 (-20.3%) Shares 201,509 (-20.1%) Est. Cost $50.86 Unrealized —

EOG EOG RESOURCES INC 0.7%

Value ($000) $17,038 (-12.7%) Shares 162,250 (-6.8%) Est. Cost $80.15 Unrealized +33.8%

BMY BRISTOL MYERS SQUIBB 0.7%

Value ($000) $16,156 (+18.1%) Shares 299,514 (-1.3%) Est. Cost $49.98 Unrealized -4.9%

CI THE CIGNA GROUP 0.7%

Value ($000) $17,054 (-11.3%) Shares 61,964 (-7.1%) Est. Cost $221.55 Unrealized +26.0%

CSCO CISCO SYSTEMS INC 1.1%

Value ($000) $27,281 (+8.6%) Shares 354,154 (-3.5%) Est. Cost $31.16 Unrealized +136.8%

PGR PROGRESSIVE CORP 0.8%

Value ($000) $19,245 (-10.0%) Shares 84,513 (-2.4%) Est. Cost $88.75 Unrealized +139.3%

CRM SALESFORCE INC 0.9%

Value ($000) $22,549 (+9.1%) Shares 85,119 (-2.4%) Est. Cost $184.26 Unrealized +34.7%

LOW LOWES CO 0.7%

Value ($000) $16,390 (-7.7%) Shares 67,964 (-3.9%) Est. Cost $231.67 Unrealized +3.5%

TRMB TRIMBLE INC 0.8%

Value ($000) $19,063 (-6.6%) Shares 243,309 (-2.6%) Est. Cost $62.81 Unrealized +26.9%

PFE PFIZER INC 0.6%

Value ($000) $13,889 (-8.0%) Shares 557,807 (-5.9%) Est. Cost $21.96 Unrealized +14.0%

CVX CHEVRON CORP 0.9%

Value ($000) $20,779 (-4.8%) Shares 136,334 (-3.0%) Est. Cost $81.11 Unrealized +86.7%

BAC BANK OF AMERICA CORP 0.9%

Value ($000) $21,754 (+5.0%) Shares 395,519 (-1.5%) Est. Cost $20.34 Unrealized +159.0%

SHM SPDR SER TR 0.1%

Value ($000) $1,984 (-32.6%) Shares 41,339 (-32.3%) Est. Cost $47.55 Unrealized —

LVS LAS VEGAS SANDS CORP 0.6%

Value ($000) $13,629 (-6.0%) Shares 209,394 (-22.3%) Est. Cost $39.27 Unrealized +55.8%

NSC NORFOLK SOUTHERN 0.7%

Value ($000) $15,772 (-4.9%) Shares 54,626 (-1.1%) Est. Cost $178.02 Unrealized +62.1%

SCHW SCHWAB CHARLES CORP 1.0%

Value ($000) $24,061 (+3.1%) Shares 240,830 (-1.5%) Est. Cost $61.55 Unrealized +53.9%

CVS CVS HEALTH CORP 0.8%

Value ($000) $19,915 (+3.6%) Shares 250,941 (-1.6%) Est. Cost $55.73 Unrealized +41.2%

FUL FULLER H B CO 0.5%

Value ($000) $12,121 (-5.1%) Shares 203,852 (-5.4%) Est. Cost $57.86 Unrealized +1.1%

ADBE ADOBE INC 0.4%

Value ($000) $9,060 (-6.3%) Shares 25,886 (-5.5%) Est. Cost $410.33 Unrealized -17.1%

IJH ISHARES TRUST 0.0%

Value ($000) $643 (-44.4%) Shares 9,747 (-45.0%) Est. Cost $62.30 Unrealized —

MUB ISHARES TR 0.2%

Value ($000) $5,341 (-4.8%) Shares 49,865 (-5.4%) Est. Cost $107.45 Unrealized —

CPT CAMDEN PPTY TR 0.7%

Value ($000) $17,279 (-1.3%) Shares 156,964 (-4.2%) Est. Cost $92.32 Unrealized +11.7%

IDEV ISHARES TR 0.0%

Value ($000) $1,118 (-16.3%) Shares 13,559 (-18.6%) Est. Cost $61.68 Unrealized —

VB VANGUARD INDEX TR 0.2%

Value ($000) $5,456 (-2.4%) Shares 21,152 (-3.7%) Est. Cost $201.37 Unrealized —

JNJ JOHNSON & JOHNSON 0.1%

Value ($000) $1,247 (+10.3%) Shares 6,026 (-1.2%) Est. Cost $82.94 Unrealized +137.5%

BDX BECTON DICKINSON 0.9%

Value ($000) $20,540 (-0.1%) Shares 105,837 (-3.7%) Est. Cost $191.26 Unrealized -0.9%

VTI VANGUARD INDEX TR 0.1%

Value ($000) $1,536 (+0.2%) Shares 4,582 (-1.9%) Est. Cost $214.88 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HON	HONEYWELL INTL INC	118,057 (-38.2%)	$23,032 (-42.7%)	1.0%	$164.63	+18.5%	COMMON	438516106
SO	SOUTHERN CO	7,975 (-95.4%)	$695 (-95.7%)	0.0%	$37.21	+144.3%	COMMON	842587107
GOOG	ALPHABET INC	376,668 (-16.3%)	$118,198 (+7.9%)	4.9%	$109.66	+161.1%	CLASS C	02079K107
C	CITIGROUP INC	431,816 (-1.3%)	$50,389 (+13.4%)	2.1%	$49.34	+110.1%	COMMON	172967424
HD	HOME DEPOT INC	63,768 (-5.2%)	$21,943 (-19.5%)	0.9%	$352.18	+3.5%	COMMON	437076102
TMUS	T-MOBILE US INC	97,223 (-3.4%)	$19,740 (-18.1%)	0.8%	$104.81	+101.6%	COMMON	872590104
FDX	FEDEX CORP	86,555 (-1.1%)	$25,002 (+21.1%)	1.0%	$188.53	+38.7%	COMMON	31428X106
DT	DYNATRACE HOLDINGS	414,070 (-7.2%)	$17,946 (-17.0%)	0.7%	$49.97	-6.7%	COMMON	268150109
RTX	RTX CORPORATION	269,480 (-1.6%)	$49,423 (+7.8%)	2.1%	$74.47	+132.7%	COM USD1	75513E101
CUBE	CUBESMART	426,074 (-7.4%)	$15,360 (-17.9%)	0.6%	$33.85	—	COMMON	229663109
PYPL	PAYPAL HLDGS INC	254,355 (-4.9%)	$14,849 (-17.2%)	0.6%	$72.99	-11.2%	COM	70450Y103
ELAN	ELANCO ANIMAL HEALTH	680,867 (-24.7%)	$15,408 (-15.4%)	0.6%	$11.00	+97.8%	COMMON	28414H103
JMST	JPMORGAN	201,509 (-20.1%)	$10,265 (-20.3%)	0.4%	$50.86	—	ULTRA-SHRT MUNICIPAL	46641Q654
EOG	EOG RESOURCES INC	162,250 (-6.8%)	$17,038 (-12.7%)	0.7%	$80.15	+33.8%	COMMON	26875P101
BMY	BRISTOL MYERS SQUIBB	299,514 (-1.3%)	$16,156 (+18.1%)	0.7%	$49.98	-4.9%	COMMON	110122108
CI	THE CIGNA GROUP	61,964 (-7.1%)	$17,054 (-11.3%)	0.7%	$221.55	+26.0%	COMMON USD0.01	125523100
CSCO	CISCO SYSTEMS INC	354,154 (-3.5%)	$27,281 (+8.6%)	1.1%	$31.16	+136.8%	COMMON	17275R102
PGR	PROGRESSIVE CORP	84,513 (-2.4%)	$19,245 (-10.0%)	0.8%	$88.75	+139.3%	COMMON	743315103
CRM	SALESFORCE INC	85,119 (-2.4%)	$22,549 (+9.1%)	0.9%	$184.26	+34.7%	COMMON	79466L302
LOW	LOWES CO	67,964 (-3.9%)	$16,390 (-7.7%)	0.7%	$231.67	+3.5%	COMMON	548661107
TRMB	TRIMBLE INC	243,309 (-2.6%)	$19,063 (-6.6%)	0.8%	$62.81	+26.9%	COM NPV	896239100
PFE	PFIZER INC	557,807 (-5.9%)	$13,889 (-8.0%)	0.6%	$21.96	+14.0%	COMMON	717081103
CVX	CHEVRON CORP	136,334 (-3.0%)	$20,779 (-4.8%)	0.9%	$81.11	+86.7%	COMMON	166764100
BAC	BANK OF AMERICA CORP	395,519 (-1.5%)	$21,754 (+5.0%)	0.9%	$20.34	+159.0%	COMMON	060505104
SHM	SPDR SER TR	41,339 (-32.3%)	$1,984 (-32.6%)	0.1%	$47.55	—	STATE STR NUVN ICE S	78468R739
LVS	LAS VEGAS SANDS CORP	209,394 (-22.3%)	$13,629 (-6.0%)	0.6%	$39.27	+55.8%	COMMON	517834107
NSC	NORFOLK SOUTHERN	54,626 (-1.1%)	$15,772 (-4.9%)	0.7%	$178.02	+62.1%	COMMON	655844108
SCHW	SCHWAB CHARLES CORP	240,830 (-1.5%)	$24,061 (+3.1%)	1.0%	$61.55	+53.9%	COM	808513105
CVS	CVS HEALTH CORP	250,941 (-1.6%)	$19,915 (+3.6%)	0.8%	$55.73	+41.2%	COMMON	126650100
FUL	FULLER H B CO	203,852 (-5.4%)	$12,121 (-5.1%)	0.5%	$57.86	+1.1%	COM USD1	359694106
ADBE	ADOBE INC	25,886 (-5.5%)	$9,060 (-6.3%)	0.4%	$410.33	-17.1%	COMMON	00724F101
IJH	ISHARES TRUST	9,747 (-45.0%)	$643 (-44.4%)	0.0%	$62.30	—	CORE S&P MID-CAP ETF	464287507
MUB	ISHARES TR	49,865 (-5.4%)	$5,341 (-4.8%)	0.2%	$107.45	—	NATL AMT FREE MUNI B	464288414
CPT	CAMDEN PPTY TR	156,964 (-4.2%)	$17,279 (-1.3%)	0.7%	$92.32	+11.7%	SH BEN INT	133131102
IDEV	ISHARES TR	13,559 (-18.6%)	$1,118 (-16.3%)	0.0%	$61.68	—	CORE MSCI INTL	46435G326
VB	VANGUARD INDEX TR	21,152 (-3.7%)	$5,456 (-2.4%)	0.2%	$201.37	—	SMALL CAP	922908751
JNJ	JOHNSON & JOHNSON	6,026 (-1.2%)	$1,247 (+10.3%)	0.1%	$82.94	+137.5%	COMMON	478160104
BDX	BECTON DICKINSON	105,837 (-3.7%)	$20,540 (-0.1%)	0.9%	$191.26	-0.9%	COMMON	075887109
VTI	VANGUARD INDEX TR	4,582 (-1.9%)	$1,536 (+0.2%)	0.1%	$214.88	—	TOTAL STOCK MARKET	922908769

Unchanged Positions (38)

MSFT MICROSOFT CORP 4.3%

Value ($000) $103,861 Shares 214,758 Est. Cost $82.62 Unrealized +505.9%

AAPL APPLE INC 4.1%

Value ($000) $99,278 Shares 365,179 Est. Cost $93.86 Unrealized +185.9%

LH LABCORP HOLDINGS INC 1.7%

Value ($000) $40,007 Shares 159,467 Est. Cost $200.08 Unrealized +32.5%

TSM TAIWAN SEMICONDUCTOR 2.7%

Value ($000) $65,834 Shares 216,638 Est. Cost $189.90 Unrealized —

AMZN AMAZON COM INC 4.2%

Value ($000) $100,628 Shares 435,958 Est. Cost $125.41 Unrealized +82.4%

ETN EATON CORPORATION 1.1%

Value ($000) $26,457 Shares 83,066 Est. Cost $165.38 Unrealized +114.3%

AGNC AGNC INVT CORP 1.9%

Value ($000) $46,078 Shares 4,298,275 Est. Cost $9.93 Unrealized —

AZN ASTRAZENECA 0.9%

Value ($000) $22,072 Shares 240,096 Est. Cost $68.11 Unrealized —

GS GOLDMAN SACHS GROUP 1.2%

Value ($000) $29,581 Shares 33,654 Est. Cost $227.21 Unrealized +258.0%

ANET ARISTA NETWORKS IN 1.1%

Value ($000) $27,308 Shares 208,408 Est. Cost $102.84 Unrealized +33.9%

WMT WALMART INC 1.3%

Value ($000) $31,436 Shares 282,167 Est. Cost $46.86 Unrealized +128.8%

GIL GILDAN ACTIVEWEAR 1.2%

Value ($000) $28,599 Shares 457,883 Est. Cost $28.00 Unrealized +112.3%

ADI ANALOG DEVICES INC 1.0%

Value ($000) $24,301 Shares 89,607 Est. Cost $156.03 Unrealized +60.6%

OTIS OTIS WORLDWIDE CORP 1.0%

Value ($000) $25,206 Shares 288,568 Est. Cost $71.49 Unrealized +24.8%

SRE SEMPRA 1.6%

Value ($000) $38,517 Shares 436,252 Est. Cost $61.80 Unrealized +46.5%

INTU INTUIT 1.2%

Value ($000) $28,834 Shares 43,529 Est. Cost $241.97 Unrealized +173.0%

V VISA INC 1.3%

Value ($000) $31,698 Shares 90,382 Est. Cost $227.90 Unrealized +49.4%

QCOM QUALCOMM INC 0.9%

Value ($000) $20,555 Shares 120,171 Est. Cost $153.66 Unrealized +11.2%

TRNO TERRENO RLTY CORP 0.7%

Value ($000) $16,273 Shares 277,182 Est. Cost $55.07 Unrealized —

FANG DIAMONDBACK ENERGY 0.4%

Value ($000) $8,690 Shares 57,805 Est. Cost $124.06 Unrealized +18.5%

EXC EXELON CORP 0.7%

Value ($000) $17,546 Shares 402,520 Est. Cost $29.60 Unrealized +53.6%

SLAB SILICON LABS INC 0.8%

Value ($000) $19,050 Shares 145,757 Est. Cost $101.92 Unrealized +29.0%

VYM VANGUARD WHITEHALL F 0.3%

Value ($000) $8,345 Shares 58,144 Est. Cost $128.52 Unrealized —

ITOT ISHARES TRUST CORE 0.3%

Value ($000) $7,476 Shares 50,277 Est. Cost $125.48 Unrealized —

CTVA CORTEVA INC 0.7%

Value ($000) $16,897 Shares 252,082 Est. Cost $41.14 Unrealized +56.9%

ORCL ORACLE CORP 0.0%

Value ($000) $317 Shares 1,625 Est. Cost $71.04 Unrealized +235.1%

MDT MEDTRONIC PLC 1.5%

Value ($000) $35,950 Shares 374,250 Est. Cost $89.06 Unrealized +9.1%

LLY LILLY ELI & CO 0.0%

Value ($000) $303 Shares 282 Est. Cost $773.40 Unrealized +23.6%

GLD SPDR GOLD TR 0.0%

Value ($000) $771 Shares 1,945 Est. Cost $242.13 Unrealized —

MS MORGAN STANLEY 0.0%

Value ($000) $608 Shares 3,427 Est. Cost $20.01 Unrealized +732.1%

APO APOLLO GLOBAL MGMT 0.0%

Value ($000) $468 Shares 3,232 Est. Cost $151.84 Unrealized -12.7%

SYK STRYKER CORP 0.0%

Value ($000) $476 Shares 1,355 Est. Cost $109.86 Unrealized +230.8%

VXUS VANGUARD STAR FUND 0.0%

Value ($000) $393 Shares 5,212 Est. Cost $73.46 Unrealized —

MGK VANGUARD WORLD FD 0.0%

Value ($000) $322 Shares 780 Est. Cost $235.32 Unrealized —

MGC VANGUARD WORLD FD 0.0%

Value ($000) $248 Shares 986 Est. Cost $186.87 Unrealized —

IJR ISHARES TR 0.0%

Value ($000) $403 Shares 3,350 Est. Cost $115.22 Unrealized —

CMF ISHARES TR 0.1%

Value ($000) $1,347 Shares 23,437 Est. Cost $56.63 Unrealized —

NYF ISHARES TR 0.0%

Value ($000) $264 Shares 4,941 Est. Cost $53.96 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	214,758	$103,861	4.3%	$82.62	+505.9%	COMMON	594918104
AAPL	APPLE INC	365,179	$99,278	4.1%	$93.86	+185.9%	COMMON	037833100
LH	LABCORP HOLDINGS INC	159,467	$40,007	1.7%	$200.08	+32.5%	COMMON	504922105
TSM	TAIWAN SEMICONDUCTOR	216,638	$65,834	2.7%	$189.90	—	SP ADR (5 ORD)	874039100
AMZN	AMAZON COM INC	435,958	$100,628	4.2%	$125.41	+82.4%	COMMON	023135106
ETN	EATON CORPORATION	83,066	$26,457	1.1%	$165.38	+114.3%	COMMON	G29183103
AGNC	AGNC INVT CORP	4,298,275	$46,078	1.9%	$9.93	—	COM	00123Q104
AZN	ASTRAZENECA	240,096	$22,072	0.9%	$68.11	—	SP ADR (1/2 ORD)	046353108
GS	GOLDMAN SACHS GROUP	33,654	$29,581	1.2%	$227.21	+258.0%	COMMON	38141G104
ANET	ARISTA NETWORKS IN	208,408	$27,308	1.1%	$102.84	+33.9%	COM USD0.0001	040413205
WMT	WALMART INC	282,167	$31,436	1.3%	$46.86	+128.8%	COMMON	931142103
GIL	GILDAN ACTIVEWEAR	457,883	$28,599	1.2%	$28.00	+112.3%	COMMON	375916103
ADI	ANALOG DEVICES INC	89,607	$24,301	1.0%	$156.03	+60.6%	COMMON	032654105
OTIS	OTIS WORLDWIDE CORP	288,568	$25,206	1.0%	$71.49	+24.8%	COMMON USD0.01	68902V107
SRE	SEMPRA	436,252	$38,517	1.6%	$61.80	+46.5%	COMMON	816851109
INTU	INTUIT	43,529	$28,834	1.2%	$241.97	+173.0%	COMMON	461202103
V	VISA INC	90,382	$31,698	1.3%	$227.90	+49.4%	CLASS A	92826C839
QCOM	QUALCOMM INC	120,171	$20,555	0.9%	$153.66	+11.2%	COMMON	747525103
TRNO	TERRENO RLTY CORP	277,182	$16,273	0.7%	$55.07	—	COMMON	88146M101
FANG	DIAMONDBACK ENERGY	57,805	$8,690	0.4%	$124.06	+18.5%	COMMON	25278X109
EXC	EXELON CORP	402,520	$17,546	0.7%	$29.60	+53.6%	COMMON	30161N101
SLAB	SILICON LABS INC	145,757	$19,050	0.8%	$101.92	+29.0%	COMMON	826919102
VYM	VANGUARD WHITEHALL F	58,144	$8,345	0.3%	$128.52	—	HIGH DIV YLD	921946406
ITOT	ISHARES TRUST CORE	50,277	$7,476	0.3%	$125.48	—	S&P TOTAL US STK MKT	464287150
CTVA	CORTEVA INC	252,082	$16,897	0.7%	$41.14	+56.9%	COM	22052L104
ORCL	ORACLE CORP	1,625	$317	0.0%	$71.04	+235.1%	COMMON	68389X105
MDT	MEDTRONIC PLC	374,250	$35,950	1.5%	$89.06	+9.1%	ORDINARY SHS $0.0001	G5960L103
LLY	LILLY ELI & CO	282	$303	0.0%	$773.40	+23.6%	COMMON	532457108
GLD	SPDR GOLD TR	1,945	$771	0.0%	$242.13	—	GOLD SHS	78463V107
MS	MORGAN STANLEY	3,427	$608	0.0%	$20.01	+732.1%	COMMON	617446448
APO	APOLLO GLOBAL MGMT	3,232	$468	0.0%	$151.84	-12.7%	COMMON STOCK	03769M106
SYK	STRYKER CORP	1,355	$476	0.0%	$109.86	+230.8%	COMMON	863667101
VXUS	VANGUARD STAR FUND	5,212	$393	0.0%	$73.46	—	TOT INTL STK IDX FD	921909768
MGK	VANGUARD WORLD FD	780	$322	0.0%	$235.32	—	MEGA GRWTH IND	921910816
MGC	VANGUARD WORLD FD	986	$248	0.0%	$186.87	—	ETF MEGA CAP INDEX	921910873
IJR	ISHARES TR	3,350	$403	0.0%	$115.22	—	CORE S&P SMALL-CAP	464287804
CMF	ISHARES TR	23,437	$1,347	0.1%	$56.63	—	CALI AMT-FREE MUNI B	464288356
NYF	ISHARES TR	4,941	$264	0.0%	$53.96	—	NY AMT-FREE MUNI BD	464288323