CULLINAN ASSOCIATES INC Diversified Active

CIK: 0001161670 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 30, 2026

Total Value ($000): $1,475,390 (100.0% shares, 0.0% debt)

Holdings (211)

New Positions (5)

VUG Vanguard Growth Indx ETF 0.0%

Value ($000) $319 Shares 653 Est. Cost $487.86 Unrealized —

VTWG Vanguard Russ 2000 Growth ETF 0.0%

Value ($000) $312 Shares 1,323 Est. Cost $235.99 Unrealized —

VONG Vanguard Russ 1000 Growth 0.0%

Value ($000) $309 Shares 2,541 Est. Cost $121.75 Unrealized —

DOCU Docusign Inc 0.0%

Value ($000) $294 Shares 4,300 Est. Cost $69.15 Unrealized 0.0%

FDX FedEx 0.0%

Value ($000) $217 Shares 750 Est. Cost $261.56 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VUG	Vanguard Growth Indx ETF	653	$319	0.0%	$487.86	—	COM	922908736
VTWG	Vanguard Russ 2000 Growth ETF	1,323	$312	0.0%	$235.99	—	COM	92206C623
VONG	Vanguard Russ 1000 Growth	2,541	$309	0.0%	$121.75	—	COM	92206C680
DOCU	Docusign Inc	4,300	$294	0.0%	$69.15	0.0%	COM	256163106
FDX	FedEx	750	$217	0.0%	$261.56	0.0%	COM	31428X106

Increased Positions (38)

GOOG Alphabet Class C 2.2%

Value ($000) $31,824 (+44.3%) Shares 101,414 (+12.0%) Est. Cost $144.24 Unrealized +98.5%

GOOGL Alphabet Class A 2.7%

Value ($000) $39,666 (+31.7%) Shares 126,728 (+2.3%) Est. Cost $133.80 Unrealized +113.4%

ORCL Oracle Corp 1.5%

Value ($000) $22,072 (-28.8%) Shares 113,241 (+2.8%) Est. Cost $94.43 Unrealized +152.1%

SPGI S&P Global Inc. 4.3%

Value ($000) $63,725 (+10.7%) Shares 121,940 (+3.1%) Est. Cost $177.32 Unrealized +178.7%

BAC Bank Of America 0.6%

Value ($000) $8,600 (+183.8%) Shares 156,371 (+166.2%) Est. Cost $45.29 Unrealized +16.3%

JNJ Johnson & Johnson 2.7%

Value ($000) $40,170 (+15.8%) Shares 194,105 (+3.8%) Est. Cost $110.64 Unrealized +78.1%

AMZN Amazon 2.0%

Value ($000) $30,171 (+21.2%) Shares 130,713 (+15.3%) Est. Cost $142.46 Unrealized +60.6%

CHRW C H Robinsin Worldwide 0.5%

Value ($000) $8,086 (+99.6%) Shares 50,300 (+64.4%) Est. Cost $107.57 Unrealized +37.0%

ASML ASML Holding NV 0.2%

Value ($000) $2,782 (+857.8%) Shares 2,600 (+766.7%) Est. Cost $1038.88 Unrealized —

SPY SPDR S&P 500 Trust 2.6%

Value ($000) $38,774 (+6.5%) Shares 56,861 (+4.0%) Est. Cost $295.60 Unrealized —

MA Mastercard 0.3%

Value ($000) $4,339 (+73.4%) Shares 7,600 (+72.7%) Est. Cost $408.89 Unrealized +36.7%

UPS United Parcel Service Inc Cl B 0.5%

Value ($000) $7,767 (+30.0%) Shares 78,301 (+9.4%) Est. Cost $120.56 Unrealized -23.1%

UBER Uber Technologies Inc 0.7%

Value ($000) $10,093 (-13.5%) Shares 123,524 (+3.7%) Est. Cost $47.44 Unrealized +89.8%

CSCO Cisco Systems Inc 0.5%

Value ($000) $7,366 (+21.7%) Shares 95,625 (+8.1%) Est. Cost $42.85 Unrealized +72.2%

DE Deere & Company 0.7%

Value ($000) $10,631 (+13.0%) Shares 22,834 (+11.0%) Est. Cost $242.98 Unrealized +92.5%

MRK Merck & Company Inc 0.4%

Value ($000) $5,319 (+27.7%) Shares 50,534 (+1.8%) Est. Cost $74.85 Unrealized +24.6%

CME CME Group 0.7%

Value ($000) $10,583 (+10.5%) Shares 38,753 (+9.3%) Est. Cost $238.38 Unrealized +13.6%

META Meta Platforms Inc 0.9%

Value ($000) $13,946 (-6.0%) Shares 21,128 (+4.6%) Est. Cost $354.39 Unrealized +88.3%

PEP PepsiCo 0.3%

Value ($000) $4,721 (+22.7%) Shares 32,893 (+20.1%) Est. Cost $137.13 Unrealized +6.4%

PANW Palo Alto Networks Inc 0.1%

Value ($000) $1,105 (+239.2%) Shares 6,000 (+275.0%) Est. Cost $195.10 Unrealized +3.4%

WFC Wells Fargo & Co 0.3%

Value ($000) $4,629 (+19.5%) Shares 49,666 (+7.5%) Est. Cost $50.90 Unrealized +70.2%

QCOM Qualcomm Inc 0.5%

Value ($000) $7,577 (+9.5%) Shares 44,294 (+6.5%) Est. Cost $146.52 Unrealized +16.6%

COST Costco Wholesale Corp 0.8%

Value ($000) $11,829 (-4.6%) Shares 13,717 (+2.4%) Est. Cost $454.25 Unrealized +99.4%

DUK Duke Energy Hldg 0.2%

Value ($000) $3,475 (+16.2%) Shares 29,648 (+22.7%) Est. Cost $104.23 Unrealized +16.6%

DIS Walt Disney Company 0.7%

Value ($000) $9,691 (+5.2%) Shares 85,182 (+5.9%) Est. Cost $110.08 Unrealized -0.5%

TRV The Travelers Companies 0.5%

Value ($000) $7,506 (+5.5%) Shares 25,876 (+1.5%) Est. Cost $211.48 Unrealized +32.7%

NOW ServiceNow 0.1%

Value ($000) $1,379 (-16.8%) Shares 9,000 (+400.0%) Est. Cost $162.85 Unrealized +5.3%

NFLX Netflix 0.1%

Value ($000) $1,285 (-17.6%) Shares 13,700 (+953.8%) Est. Cost $103.22 Unrealized +4.5%

AFL AFLAC Inc 1.1%

Value ($000) $15,677 (+1.7%) Shares 142,174 (+3.0%) Est. Cost $52.34 Unrealized +109.9%

ECL Ecolab Inc 0.4%

Value ($000) $6,615 (+1.5%) Shares 25,200 (+5.9%) Est. Cost $237.42 Unrealized +11.9%

GILD Gilead Sciences 0.0%

Value ($000) $572 (+12.6%) Shares 4,662 (+1.9%) Est. Cost $60.83 Unrealized +98.7%

BP BP PLC ADS 0.0%

Value ($000) $264 (+27.7%) Shares 7,600 (+26.7%) Est. Cost $33.86 Unrealized —

CARR Carrier Global 0.0%

Value ($000) $476 (-10.5%) Shares 9,000 (+1.1%) Est. Cost $41.87 Unrealized +32.6%

SYK Stryker 0.2%

Value ($000) $3,003 (-0.9%) Shares 8,545 (+4.3%) Est. Cost $243.35 Unrealized +49.4%

GLW Corning 0.0%

Value ($000) $216 (+7.8%) Shares 2,470 (+1.0%) Est. Cost $65.18 Unrealized +31.9%

HUM Humana 0.0%

Value ($000) $410 (+3.3%) Shares 1,600 (+4.9%) Est. Cost $317.24 Unrealized -17.6%

BDX Becton Dickenson & Co 0.0%

Value ($000) $216 (+4.9%) Shares 1,113 (+1.2%) Est. Cost $184.12 Unrealized +2.9%

MET Metlife Inc 0.0%

Value ($000) $261 (+2.0%) Shares 3,308 (+6.4%) Est. Cost $57.28 Unrealized +37.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	Alphabet Class C	101,414 (+12.0%)	$31,824 (+44.3%)	2.2%	$144.24	+98.5%	COM	02079K107
GOOGL	Alphabet Class A	126,728 (+2.3%)	$39,666 (+31.7%)	2.7%	$133.80	+113.4%	COM	02079K305
ORCL	Oracle Corp	113,241 (+2.8%)	$22,072 (-28.8%)	1.5%	$94.43	+152.1%	COM	68389X105
SPGI	S&P Global Inc.	121,940 (+3.1%)	$63,725 (+10.7%)	4.3%	$177.32	+178.7%	COM	78409V104
BAC	Bank Of America	156,371 (+166.2%)	$8,600 (+183.8%)	0.6%	$45.29	+16.3%	COM	060505104
JNJ	Johnson & Johnson	194,105 (+3.8%)	$40,170 (+15.8%)	2.7%	$110.64	+78.1%	COM	478160104
AMZN	Amazon	130,713 (+15.3%)	$30,171 (+21.2%)	2.0%	$142.46	+60.6%	COM	023135106
CHRW	C H Robinsin Worldwide	50,300 (+64.4%)	$8,086 (+99.6%)	0.5%	$107.57	+37.0%	COM	12541W209
ASML	ASML Holding NV	2,600 (+766.7%)	$2,782 (+857.8%)	0.2%	$1038.88	—	COM	N07059210
SPY	SPDR S&P 500 Trust	56,861 (+4.0%)	$38,774 (+6.5%)	2.6%	$295.60	—	COM	78462F103
MA	Mastercard	7,600 (+72.7%)	$4,339 (+73.4%)	0.3%	$408.89	+36.7%	COM	57636Q104
UPS	United Parcel Service Inc Cl B	78,301 (+9.4%)	$7,767 (+30.0%)	0.5%	$120.56	-23.1%	COM	911312106
UBER	Uber Technologies Inc	123,524 (+3.7%)	$10,093 (-13.5%)	0.7%	$47.44	+89.8%	COM	90353T100
CSCO	Cisco Systems Inc	95,625 (+8.1%)	$7,366 (+21.7%)	0.5%	$42.85	+72.2%	COM	17275R102
DE	Deere & Company	22,834 (+11.0%)	$10,631 (+13.0%)	0.7%	$242.98	+92.5%	COM	244199105
MRK	Merck & Company Inc	50,534 (+1.8%)	$5,319 (+27.7%)	0.4%	$74.85	+24.6%	COM	58933Y105
CME	CME Group	38,753 (+9.3%)	$10,583 (+10.5%)	0.7%	$238.38	+13.6%	COM	12572Q105
META	Meta Platforms Inc	21,128 (+4.6%)	$13,946 (-6.0%)	0.9%	$354.39	+88.3%	COM	30303M102
PEP	PepsiCo	32,893 (+20.1%)	$4,721 (+22.7%)	0.3%	$137.13	+6.4%	COM	713448108
PANW	Palo Alto Networks Inc	6,000 (+275.0%)	$1,105 (+239.2%)	0.1%	$195.10	+3.4%	COM	697435105
WFC	Wells Fargo & Co	49,666 (+7.5%)	$4,629 (+19.5%)	0.3%	$50.90	+70.2%	COM	949746101
QCOM	Qualcomm Inc	44,294 (+6.5%)	$7,577 (+9.5%)	0.5%	$146.52	+16.6%	COM	747525103
COST	Costco Wholesale Corp	13,717 (+2.4%)	$11,829 (-4.6%)	0.8%	$454.25	+99.4%	COM	22160K105
DUK	Duke Energy Hldg	29,648 (+22.7%)	$3,475 (+16.2%)	0.2%	$104.23	+16.6%	COM	26441C204
DIS	Walt Disney Company	85,182 (+5.9%)	$9,691 (+5.2%)	0.7%	$110.08	-0.5%	COM	254687106
TRV	The Travelers Companies	25,876 (+1.5%)	$7,506 (+5.5%)	0.5%	$211.48	+32.7%	COM	89417E109
NOW	ServiceNow	9,000 (+400.0%)	$1,379 (-16.8%)	0.1%	$162.85	+5.3%	COM	81762P102
NFLX	Netflix	13,700 (+953.8%)	$1,285 (-17.6%)	0.1%	$103.22	+4.5%	COM	64110L106
AFL	AFLAC Inc	142,174 (+3.0%)	$15,677 (+1.7%)	1.1%	$52.34	+109.9%	COM	001055102
ECL	Ecolab Inc	25,200 (+5.9%)	$6,615 (+1.5%)	0.4%	$237.42	+11.9%	COM	278865100
GILD	Gilead Sciences	4,662 (+1.9%)	$572 (+12.6%)	0.0%	$60.83	+98.7%	COM	375558103
BP	BP PLC ADS	7,600 (+26.7%)	$264 (+27.7%)	0.0%	$33.86	—	COM	055622104
CARR	Carrier Global	9,000 (+1.1%)	$476 (-10.5%)	0.0%	$41.87	+32.6%	COM	14448C104
SYK	Stryker	8,545 (+4.3%)	$3,003 (-0.9%)	0.2%	$243.35	+49.4%	COM	863667101
GLW	Corning	2,470 (+1.0%)	$216 (+7.8%)	0.0%	$65.18	+31.9%	COM	219350105
HUM	Humana	1,600 (+4.9%)	$410 (+3.3%)	0.0%	$317.24	-17.6%	COM	444859102
BDX	Becton Dickenson & Co	1,113 (+1.2%)	$216 (+4.9%)	0.0%	$184.12	+2.9%	COM	075887109
MET	Metlife Inc	3,308 (+6.4%)	$261 (+2.0%)	0.0%	$57.28	+37.8%	COM	59156R108

Exited Positions (7)

DOV Dover Corporation 0.1%

Value ($000) $784 Shares 4,700 Est. Cost $172.70 Unrealized +5.3%

SHW Sherwin-Williams 0.0%

Value ($000) $658 Shares 1,900 Est. Cost $305.10 Unrealized +9.5%

SEE Sealed Air 0.0%

Value ($000) $315 Shares 8,900 Est. Cost $49.53 Unrealized -22.1%

OKLO Oklo Inc. 0.0%

Value ($000) $223 Shares 2,000 Est. Cost $78.30 Unrealized +42.4%

EXC Exelon Corp 0.0%

Value ($000) $203 Shares 4,500 Est. Cost $43.37 Unrealized +4.8%

AEP American Electric Power 0.0%

Value ($000) $203 Shares 1,800 Est. Cost $108.19 Unrealized +8.8%

DEO Diageo PLC ADR 0.0%

Value ($000) $200 Shares 2,100 Est. Cost $127.14 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DOV	Dover Corporation	4,700	$784	0.1%	$172.70	+5.3%	—	260003108
SHW	Sherwin-Williams	1,900	$658	0.0%	$305.10	+9.5%	—	824348106
SEE	Sealed Air	8,900	$315	0.0%	$49.53	-22.1%	—	81211K100
OKLO	Oklo Inc.	2,000	$223	0.0%	$78.30	+42.4%	—	02156V109
EXC	Exelon Corp	4,500	$203	0.0%	$43.37	+4.8%	—	30161N101
AEP	American Electric Power	1,800	$203	0.0%	$108.19	+8.8%	—	025537101
DEO	Diageo PLC ADR	2,100	$200	0.0%	$127.14	—	—	25243Q205

Decreased Positions (72)

COIN Coinbase Global Inc. 0.0%

Value ($000) $548 (-99.4%) Shares 2,425 (-99.1%) Est. Cost $79.06 Unrealized +276.9%

AAPL Apple Inc 8.2%

Value ($000) $121,455 (+5.7%) Shares 446,756 (-1.0%) Est. Cost $121.89 Unrealized +120.2%

NVDA Nvidia Corp 1.0%

Value ($000) $15,386 (-26.8%) Shares 82,500 (-26.8%) Est. Cost $92.58 Unrealized +101.1%

LOW Lowes Companies Inc 1.1%

Value ($000) $16,164 (-22.5%) Shares 67,028 (-19.3%) Est. Cost $161.17 Unrealized +48.8%

JPM J P Morgan Chase & Co 1.5%

Value ($000) $22,432 (-12.5%) Shares 69,616 (-14.3%) Est. Cost $101.37 Unrealized +205.4%

PG Procter & Gamble Co 2.5%

Value ($000) $37,124 (-7.8%) Shares 259,050 (-1.2%) Est. Cost $89.62 Unrealized +64.2%

AMT American Tower REIT 0.0%

Value ($000) $386 (-87.7%) Shares 2,200 (-86.5%) Est. Cost $182.58 Unrealized -1.2%

ABNB Airbnb Inc 0.5%

Value ($000) $7,332 (-25.7%) Shares 54,022 (-33.5%) Est. Cost $129.31 Unrealized -3.7%

AMAT Applied Materials 1.0%

Value ($000) $15,159 (+19.5%) Shares 58,988 (-4.8%) Est. Cost $104.49 Unrealized +129.2%

ITW Illinois Tool Works 0.2%

Value ($000) $3,450 (-40.1%) Shares 14,006 (-36.6%) Est. Cost $187.61 Unrealized +32.0%

HD Home Depot 0.7%

Value ($000) $10,323 (-17.8%) Shares 30,001 (-3.2%) Est. Cost $278.04 Unrealized +31.1%

EA Electronic Arts 1.0%

Value ($000) $14,500 (-12.4%) Shares 70,963 (-13.5%) Est. Cost $124.88 Unrealized +61.5%

TXN Texas Instruments 0.9%

Value ($000) $13,238 (-13.0%) Shares 76,302 (-7.9%) Est. Cost $118.05 Unrealized +44.6%

HPQ HP Inc 0.2%

Value ($000) $3,403 (-35.6%) Shares 152,725 (-21.3%) Est. Cost $29.17 Unrealized -13.4%

WMT Wal-Mart Stores Inc 3.9%

Value ($000) $58,045 (+3.3%) Shares 521,003 (-4.4%) Est. Cost $43.87 Unrealized +144.3%

LLY Eli Lilly & Company 0.6%

Value ($000) $8,573 (+25.7%) Shares 7,978 (-10.8%) Est. Cost $496.43 Unrealized +92.5%

NYT New York Times Company 0.7%

Value ($000) $10,087 (+18.1%) Shares 145,310 (-2.4%) Est. Cost $42.40 Unrealized +45.8%

CVX Chevron Corp 1.1%

Value ($000) $16,112 (-7.8%) Shares 105,717 (-6.1%) Est. Cost $104.61 Unrealized +44.7%

CAT Caterpillar 1.2%

Value ($000) $17,352 (+8.5%) Shares 30,289 (-9.7%) Est. Cost $222.45 Unrealized +149.7%

XOM Exxon Mobil 2.1%

Value ($000) $30,278 (+4.3%) Shares 251,604 (-2.3%) Est. Cost $72.93 Unrealized +58.3%

PYPL PayPal Hldg Inc 0.4%

Value ($000) $5,477 (-18.5%) Shares 93,813 (-6.4%) Est. Cost $75.16 Unrealized -13.7%

ADBE Adobe 0.2%

Value ($000) $3,027 (-26.0%) Shares 8,650 (-25.4%) Est. Cost $289.47 Unrealized +17.5%

UNH UnitedHealth 0.1%

Value ($000) $2,155 (-30.5%) Shares 6,529 (-27.3%) Est. Cost $275.90 Unrealized +22.2%

PFE Pfizer Inc 0.1%

Value ($000) $1,377 (-38.6%) Shares 55,301 (-37.2%) Est. Cost $29.48 Unrealized -15.1%

— Berkshire Hathaway Cl B 0.5%

Value ($000) $6,679 (-11.4%) Shares 13,287 (-11.3%) Est. Cost $179.46 Unrealized —

— Crown Castle 0.1%

Value ($000) $2,033 (-25.2%) Shares 22,872 (-18.8%) Est. Cost $155.71 Unrealized —

KLAC KLA Corporation 0.7%

Value ($000) $10,354 (+7.0%) Shares 8,521 (-5.0%) Est. Cost $549.87 Unrealized +113.1%

MS Morgan Stanley 0.3%

Value ($000) $4,748 (-12.5%) Shares 26,744 (-21.7%) Est. Cost $84.95 Unrealized +96.0%

GS Goldman Sachs 0.7%

Value ($000) $11,010 (+6.3%) Shares 12,525 (-3.7%) Est. Cost $365.07 Unrealized +122.8%

CMCSA Comcast Corp 0.2%

Value ($000) $3,171 (-16.2%) Shares 106,088 (-12.0%) Est. Cost $37.08 Unrealized -23.1%

ABBV AbbVie Inc 1.3%

Value ($000) $19,050 (-3.0%) Shares 83,375 (-1.7%) Est. Cost $102.95 Unrealized +121.0%

MDLZ Mondelez Intl 0.2%

Value ($000) $2,352 (-17.6%) Shares 43,687 (-4.4%) Est. Cost $50.85 Unrealized +12.2%

T AT&T Inc 0.0%

Value ($000) $314 (-61.4%) Shares 12,655 (-56.1%) Est. Cost $15.25 Unrealized +65.8%

LMT Lockheed Martin 0.7%

Value ($000) $9,648 (-4.8%) Shares 19,948 (-1.7%) Est. Cost $387.67 Unrealized +22.8%

EMR Emerson Electric Company 0.6%

Value ($000) $8,489 (-5.2%) Shares 63,961 (-6.3%) Est. Cost $88.40 Unrealized +49.7%

ABT Abbott Laboratories 0.3%

Value ($000) $4,077 (-9.1%) Shares 32,540 (-2.9%) Est. Cost $81.58 Unrealized +56.0%

— Quantum Scape Corp 0.1%

Value ($000) $895 (-28.1%) Shares 85,900 (-15.0%) Est. Cost $4.16 Unrealized —

HOOD Robinhood Markets Inc 0.1%

Value ($000) $1,007 (-24.4%) Shares 8,900 (-4.3%) Est. Cost $36.39 Unrealized +257.4%

HON Honeywell 0.1%

Value ($000) $1,637 (-16.3%) Shares 8,390 (-9.7%) Est. Cost $148.71 Unrealized +31.1%

CL Colgate-Palmolive Company 0.3%

Value ($000) $3,717 (-7.8%) Shares 47,039 (-6.7%) Est. Cost $54.10 Unrealized +44.8%

CARG CarGurus Inc 0.0%

Value ($000) $414 (-42.7%) Shares 10,800 (-44.3%) Est. Cost $20.09 Unrealized +79.4%

CRM Salesforce.com Inc 0.2%

Value ($000) $3,153 (-8.3%) Shares 11,900 (-17.9%) Est. Cost $150.69 Unrealized +64.7%

— Blackrock Inc 0.0%

Value ($000) $214 (-55.9%) Shares 200 (-51.9%) Est. Cost $600.29 Unrealized —

RTX RTX Corporation 0.2%

Value ($000) $3,237 (+8.5%) Shares 17,650 (-1.0%) Est. Cost $63.75 Unrealized +171.9%

KMB Kimberly-Clark 0.0%

Value ($000) $383 (-39.5%) Shares 3,800 (-25.5%) Est. Cost $106.88 Unrealized +1.4%

ETN Eaton Corp 0.1%

Value ($000) $1,282 (-16.2%) Shares 4,024 (-1.5%) Est. Cost $101.66 Unrealized +248.6%

BMY Bristol Myers Squibb Company 0.2%

Value ($000) $2,751 (+9.7%) Shares 50,994 (-8.3%) Est. Cost $48.50 Unrealized -2.0%

GE GE Aerospace 0.1%

Value ($000) $1,629 (-12.4%) Shares 5,288 (-14.4%) Est. Cost $121.93 Unrealized +146.7%

ACN Accenture PLC 0.1%

Value ($000) $1,459 (-13.5%) Shares 5,439 (-20.5%) Est. Cost $242.59 Unrealized +4.7%

MCD McDonalds Corp 1.3%

Value ($000) $19,642 (-1.0%) Shares 64,268 (-1.6%) Est. Cost $181.57 Unrealized +68.0%

V Visa Inc Cl A 0.6%

Value ($000) $9,485 (-2.1%) Shares 27,045 (-4.7%) Est. Cost $252.53 Unrealized +34.8%

AXP American Express Co 1.1%

Value ($000) $16,011 (+1.2%) Shares 43,280 (-9.1%) Est. Cost $119.22 Unrealized +199.4%

ADI Analog Devices 0.2%

Value ($000) $2,291 (+8.8%) Shares 8,446 (-1.4%) Est. Cost $161.22 Unrealized +55.5%

PLTR Palantir Technologies Inc 0.0%

Value ($000) $409 (-30.0%) Shares 2,300 (-28.1%) Est. Cost $61.06 Unrealized +196.5%

GEV GE Vernova Inc 0.1%

Value ($000) $795 (-16.5%) Shares 1,216 (-21.4%) Est. Cost $187.00 Unrealized +225.7%

AMD Advanced Micro 0.1%

Value ($000) $796 (+22.5%) Shares 3,719 (-7.5%) Est. Cost $93.26 Unrealized +140.8%

USB U S Bancorp 0.1%

Value ($000) $1,865 (+7.9%) Shares 34,950 (-2.2%) Est. Cost $36.45 Unrealized +33.7%

AVGO Broadcom Ltd 0.2%

Value ($000) $3,073 (-4.0%) Shares 8,880 (-8.5%) Est. Cost $155.43 Unrealized +129.7%

CVS CVS Health Corp 0.3%

Value ($000) $3,761 (+3.3%) Shares 47,387 (-1.8%) Est. Cost $61.91 Unrealized +27.1%

PRU Prudential Financial 0.4%

Value ($000) $5,368 (+2.2%) Shares 47,554 (-6.1%) Est. Cost $99.71 Unrealized +6.8%

PLD ProLogis Inc 0.2%

Value ($000) $2,866 (+3.9%) Shares 22,447 (-6.8%) Est. Cost $117.09 Unrealized +5.8%

VZ Verizon Communications Inc 0.0%

Value ($000) $513 (-12.9%) Shares 12,600 (-6.0%) Est. Cost $36.72 Unrealized +10.2%

COP ConocoPhillips 0.1%

Value ($000) $2,006 (-3.3%) Shares 21,432 (-2.3%) Est. Cost $83.66 Unrealized +7.6%

IBM Intl Business Machines Corp 2.4%

Value ($000) $35,280 (+0.2%) Shares 119,106 (-4.6%) Est. Cost $127.75 Unrealized +133.9%

VOO Vanguard S&P 500 ETF 0.3%

Value ($000) $4,076 (+1.3%) Shares 6,500 (-1.1%) Est. Cost $0.35 Unrealized —

IWF iShares Russell 1000 Growth ET 0.2%

Value ($000) $3,273 (-1.6%) Shares 6,915 (-2.6%) Est. Cost $244.61 Unrealized —

— Linde PLC 0.0%

Value ($000) $288 (-13.4%) Shares 676 (-3.6%) Est. Cost $161.23 Unrealized —

WELL Welltower Inc 0.1%

Value ($000) $1,870 (-2.0%) Shares 10,075 (-6.0%) Est. Cost $106.21 Unrealized +75.6%

PNC PNC Finl 0.1%

Value ($000) $928 (-4.0%) Shares 4,448 (-7.6%) Est. Cost $148.61 Unrealized +29.7%

KHC Kraft Heinz Co 0.0%

Value ($000) $252 (-8.6%) Shares 10,408 (-1.9%) Est. Cost $29.43 Unrealized -16.3%

CTVA Corteva Inc 0.0%

Value ($000) $393 (-2.5%) Shares 5,867 (-1.7%) Est. Cost $35.06 Unrealized +84.1%

MDT Medtronic Plc 0.3%

Value ($000) $4,159 (-0.2%) Shares 43,292 (-1.1%) Est. Cost $74.37 Unrealized +30.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COIN	Coinbase Global Inc.	2,425 (-99.1%)	$548 (-99.4%)	0.0%	$79.06	+276.9%	COM	19260Q107
AAPL	Apple Inc	446,756 (-1.0%)	$121,455 (+5.7%)	8.2%	$121.89	+120.2%	COM	037833100
NVDA	Nvidia Corp	82,500 (-26.8%)	$15,386 (-26.8%)	1.0%	$92.58	+101.1%	COM	67066G104
LOW	Lowes Companies Inc	67,028 (-19.3%)	$16,164 (-22.5%)	1.1%	$161.17	+48.8%	COM	548661107
JPM	J P Morgan Chase & Co	69,616 (-14.3%)	$22,432 (-12.5%)	1.5%	$101.37	+205.4%	COM	46625H100
PG	Procter & Gamble Co	259,050 (-1.2%)	$37,124 (-7.8%)	2.5%	$89.62	+64.2%	COM	742718109
AMT	American Tower REIT	2,200 (-86.5%)	$386 (-87.7%)	0.0%	$182.58	-1.2%	COM	03027X100
ABNB	Airbnb Inc	54,022 (-33.5%)	$7,332 (-25.7%)	0.5%	$129.31	-3.7%	COM	009066101
AMAT	Applied Materials	58,988 (-4.8%)	$15,159 (+19.5%)	1.0%	$104.49	+129.2%	COM	038222105
ITW	Illinois Tool Works	14,006 (-36.6%)	$3,450 (-40.1%)	0.2%	$187.61	+32.0%	COM	452308109
HD	Home Depot	30,001 (-3.2%)	$10,323 (-17.8%)	0.7%	$278.04	+31.1%	COM	437076102
EA	Electronic Arts	70,963 (-13.5%)	$14,500 (-12.4%)	1.0%	$124.88	+61.5%	COM	285512109
TXN	Texas Instruments	76,302 (-7.9%)	$13,238 (-13.0%)	0.9%	$118.05	+44.6%	COM	882508104
HPQ	HP Inc	152,725 (-21.3%)	$3,403 (-35.6%)	0.2%	$29.17	-13.4%	COM	40434L105
WMT	Wal-Mart Stores Inc	521,003 (-4.4%)	$58,045 (+3.3%)	3.9%	$43.87	+144.3%	COM	931142103
LLY	Eli Lilly & Company	7,978 (-10.8%)	$8,573 (+25.7%)	0.6%	$496.43	+92.5%	COM	532457108
NYT	New York Times Company	145,310 (-2.4%)	$10,087 (+18.1%)	0.7%	$42.40	+45.8%	COM	650111107
CVX	Chevron Corp	105,717 (-6.1%)	$16,112 (-7.8%)	1.1%	$104.61	+44.7%	COM	166764100
CAT	Caterpillar	30,289 (-9.7%)	$17,352 (+8.5%)	1.2%	$222.45	+149.7%	COM	149123101
XOM	Exxon Mobil	251,604 (-2.3%)	$30,278 (+4.3%)	2.1%	$72.93	+58.3%	COM	30231G102
PYPL	PayPal Hldg Inc	93,813 (-6.4%)	$5,477 (-18.5%)	0.4%	$75.16	-13.7%	COM	70450Y103
ADBE	Adobe	8,650 (-25.4%)	$3,027 (-26.0%)	0.2%	$289.47	+17.5%	COM	00724F101
UNH	UnitedHealth	6,529 (-27.3%)	$2,155 (-30.5%)	0.1%	$275.90	+22.2%	COM	91324P102
PFE	Pfizer Inc	55,301 (-37.2%)	$1,377 (-38.6%)	0.1%	$29.48	-15.1%	COM	717081103
—	Berkshire Hathaway Cl B	13,287 (-11.3%)	$6,679 (-11.4%)	0.5%	$179.46	—	COM	113809107
—	Crown Castle	22,872 (-18.8%)	$2,033 (-25.2%)	0.1%	$155.71	—	COM	228227104
KLAC	KLA Corporation	8,521 (-5.0%)	$10,354 (+7.0%)	0.7%	$549.87	+113.1%	COM	482480100
MS	Morgan Stanley	26,744 (-21.7%)	$4,748 (-12.5%)	0.3%	$84.95	+96.0%	COM	617446448
GS	Goldman Sachs	12,525 (-3.7%)	$11,010 (+6.3%)	0.7%	$365.07	+122.8%	COM	38141G104
CMCSA	Comcast Corp	106,088 (-12.0%)	$3,171 (-16.2%)	0.2%	$37.08	-23.1%	COM	20030N101
ABBV	AbbVie Inc	83,375 (-1.7%)	$19,050 (-3.0%)	1.3%	$102.95	+121.0%	COM	00287Y109
MDLZ	Mondelez Intl	43,687 (-4.4%)	$2,352 (-17.6%)	0.2%	$50.85	+12.2%	COM	609207105
T	AT&T Inc	12,655 (-56.1%)	$314 (-61.4%)	0.0%	$15.25	+65.8%	COM	00206R102
LMT	Lockheed Martin	19,948 (-1.7%)	$9,648 (-4.8%)	0.7%	$387.67	+22.8%	COM	539830109
EMR	Emerson Electric Company	63,961 (-6.3%)	$8,489 (-5.2%)	0.6%	$88.40	+49.7%	COM	291011104
ABT	Abbott Laboratories	32,540 (-2.9%)	$4,077 (-9.1%)	0.3%	$81.58	+56.0%	COM	002824100
—	Quantum Scape Corp	85,900 (-15.0%)	$895 (-28.1%)	0.1%	$4.16	—	COM	71467V109
HOOD	Robinhood Markets Inc	8,900 (-4.3%)	$1,007 (-24.4%)	0.1%	$36.39	+257.4%	COM	770700102
HON	Honeywell	8,390 (-9.7%)	$1,637 (-16.3%)	0.1%	$148.71	+31.1%	COM	438516106
CL	Colgate-Palmolive Company	47,039 (-6.7%)	$3,717 (-7.8%)	0.3%	$54.10	+44.8%	COM	194162103
CARG	CarGurus Inc	10,800 (-44.3%)	$414 (-42.7%)	0.0%	$20.09	+79.4%	COM	141788109
CRM	Salesforce.com Inc	11,900 (-17.9%)	$3,153 (-8.3%)	0.2%	$150.69	+64.7%	COM	79466L302
—	Blackrock Inc	200 (-51.9%)	$214 (-55.9%)	0.0%	$600.29	—	COM	09247X101
RTX	RTX Corporation	17,650 (-1.0%)	$3,237 (+8.5%)	0.2%	$63.75	+171.9%	COM	75513E101
KMB	Kimberly-Clark	3,800 (-25.5%)	$383 (-39.5%)	0.0%	$106.88	+1.4%	COM	494368103
ETN	Eaton Corp	4,024 (-1.5%)	$1,282 (-16.2%)	0.1%	$101.66	+248.6%	COM	G29183103
BMY	Bristol Myers Squibb Company	50,994 (-8.3%)	$2,751 (+9.7%)	0.2%	$48.50	-2.0%	COM	110122108
GE	GE Aerospace	5,288 (-14.4%)	$1,629 (-12.4%)	0.1%	$121.93	+146.7%	COM	369604301
ACN	Accenture PLC	5,439 (-20.5%)	$1,459 (-13.5%)	0.1%	$242.59	+4.7%	COM	G1151C101
MCD	McDonalds Corp	64,268 (-1.6%)	$19,642 (-1.0%)	1.3%	$181.57	+68.0%	COM	580135101
V	Visa Inc Cl A	27,045 (-4.7%)	$9,485 (-2.1%)	0.6%	$252.53	+34.8%	COM	92826C839
AXP	American Express Co	43,280 (-9.1%)	$16,011 (+1.2%)	1.1%	$119.22	+199.4%	COM	025816109
ADI	Analog Devices	8,446 (-1.4%)	$2,291 (+8.8%)	0.2%	$161.22	+55.5%	COM	032654105
PLTR	Palantir Technologies Inc	2,300 (-28.1%)	$409 (-30.0%)	0.0%	$61.06	+196.5%	COM	69608A108
GEV	GE Vernova Inc	1,216 (-21.4%)	$795 (-16.5%)	0.1%	$187.00	+225.7%	COM	36828A101
AMD	Advanced Micro	3,719 (-7.5%)	$796 (+22.5%)	0.1%	$93.26	+140.8%	COM	007903107
USB	U S Bancorp	34,950 (-2.2%)	$1,865 (+7.9%)	0.1%	$36.45	+33.7%	COM	902973304
AVGO	Broadcom Ltd	8,880 (-8.5%)	$3,073 (-4.0%)	0.2%	$155.43	+129.7%	COM	11135F101
CVS	CVS Health Corp	47,387 (-1.8%)	$3,761 (+3.3%)	0.3%	$61.91	+27.1%	COM	126650100
PRU	Prudential Financial	47,554 (-6.1%)	$5,368 (+2.2%)	0.4%	$99.71	+6.8%	COM	744320102
PLD	ProLogis Inc	22,447 (-6.8%)	$2,866 (+3.9%)	0.2%	$117.09	+5.8%	COM	74340W103
VZ	Verizon Communications Inc	12,600 (-6.0%)	$513 (-12.9%)	0.0%	$36.72	+10.2%	COM	92343V104
COP	ConocoPhillips	21,432 (-2.3%)	$2,006 (-3.3%)	0.1%	$83.66	+7.6%	COM	20825C104
IBM	Intl Business Machines Corp	119,106 (-4.6%)	$35,280 (+0.2%)	2.4%	$127.75	+133.9%	COM	459200101
VOO	Vanguard S&P 500 ETF	6,500 (-1.1%)	$4,076 (+1.3%)	0.3%	$0.35	—	COM	922908363
IWF	iShares Russell 1000 Growth ET	6,915 (-2.6%)	$3,273 (-1.6%)	0.2%	$244.61	—	COM	464287614
—	Linde PLC	676 (-3.6%)	$288 (-13.4%)	0.0%	$161.23	—	COM	G5494J103
WELL	Welltower Inc	10,075 (-6.0%)	$1,870 (-2.0%)	0.1%	$106.21	+75.6%	COM	95040Q104
PNC	PNC Finl	4,448 (-7.6%)	$928 (-4.0%)	0.1%	$148.61	+29.7%	COM	693475105
KHC	Kraft Heinz Co	10,408 (-1.9%)	$252 (-8.6%)	0.0%	$29.43	-16.3%	COM	500754106
CTVA	Corteva Inc	5,867 (-1.7%)	$393 (-2.5%)	0.0%	$35.06	+84.1%	COM	22052L104
MDT	Medtronic Plc	43,292 (-1.1%)	$4,159 (-0.2%)	0.3%	$74.37	+30.6%	COM	G5960L103

Unchanged Positions (96)

MSFT Microsoft Corp 5.8%

Value ($000) $85,961 Shares 177,745 Est. Cost $144.67 Unrealized +246.0%

KO Coca-Cola Company 6.5%

Value ($000) $95,479 Shares 1,365,746 Est. Cost $39.30 Unrealized +76.6%

— Lam Research Corp 1.1%

Value ($000) $16,604 Shares 97,000 Est. Cost $94.58 Unrealized —

VRTX Vertex Pharmaceutical 1.6%

Value ($000) $23,263 Shares 51,312 Est. Cost $142.63 Unrealized +202.2%

AMGN Amgen Inc 0.7%

Value ($000) $10,193 Shares 31,143 Est. Cost $190.94 Unrealized +65.5%

FAST Fastenal Company 0.3%

Value ($000) $4,887 Shares 121,782 Est. Cost $33.30 Unrealized +26.2%

SO Southern Co 0.8%

Value ($000) $11,317 Shares 129,777 Est. Cost $71.96 Unrealized +26.3%

CMI Cummins 0.3%

Value ($000) $4,749 Shares 9,304 Est. Cost $197.76 Unrealized +135.8%

ISRG Intuitive Surgical Inc 0.2%

Value ($000) $2,775 Shares 4,900 Est. Cost $361.54 Unrealized +47.3%

TJX TJX Companies 0.6%

Value ($000) $8,439 Shares 54,937 Est. Cost $78.70 Unrealized +87.7%

DT Dynatrace Holdings LLC 0.3%

Value ($000) $4,724 Shares 109,000 Est. Cost $46.87 Unrealized -0.5%

AESI New Atlas Holdco Inc 0.2%

Value ($000) $2,374 Shares 252,000 Est. Cost $19.19 Unrealized -47.3%

ADP Automatic Data 0.2%

Value ($000) $2,649 Shares 10,300 Est. Cost $155.78 Unrealized +70.0%

GTLB Gitlab Inc Cl A 0.1%

Value ($000) $1,764 Shares 47,000 Est. Cost $49.97 Unrealized -13.4%

FSLR First Solar Inc 0.1%

Value ($000) $1,959 Shares 7,500 Est. Cost $61.95 Unrealized +307.1%

FMC FMC Corporation 0.0%

Value ($000) $200 Shares 14,448 Est. Cost $94.90 Unrealized -80.0%

ROP Roper Technologies 0.2%

Value ($000) $2,226 Shares 5,000 Est. Cost $422.55 Unrealized +9.4%

MO Altria Group 0.1%

Value ($000) $1,754 Shares 30,427 Est. Cost $30.56 Unrealized +94.2%

NSC Norfolk Southern 0.4%

Value ($000) $5,601 Shares 19,400 Est. Cost $196.42 Unrealized +46.9%

TMO Thermo Fisher Scientific 0.1%

Value ($000) $1,333 Shares 2,300 Est. Cost $539.73 Unrealized +4.7%

NOC Northrop Grumman Corp 0.2%

Value ($000) $3,132 Shares 5,492 Est. Cost $366.97 Unrealized +57.7%

TFC Truist Financial Corporation 0.2%

Value ($000) $2,826 Shares 57,435 Est. Cost $41.00 Unrealized +11.7%

INTC Intel Corp 0.1%

Value ($000) $2,081 Shares 56,389 Est. Cost $32.66 Unrealized +15.6%

EFX Equifax Inc 0.1%

Value ($000) $922 Shares 4,250 Est. Cost $199.85 Unrealized +9.4%

UBS UBS AG 0.1%

Value ($000) $1,343 Shares 29,000 Est. Cost $20.94 Unrealized +93.0%

OKTA Okta Inc 0.2%

Value ($000) $2,447 Shares 28,300 Est. Cost $118.97 Unrealized -26.7%

AZN AstraZeneca PLC 0.1%

Value ($000) $738 Shares 8,026 Est. Cost $33.15 Unrealized —

NUE Nucor Corp 0.0%

Value ($000) $634 Shares 3,888 Est. Cost $168.25 Unrealized -11.0%

BX Blackstone Group 0.1%

Value ($000) $988 Shares 6,410 Est. Cost $99.48 Unrealized +52.2%

HII Huntington Ingalls Industries 0.0%

Value ($000) $680 Shares 2,000 Est. Cost $264.00 Unrealized +17.2%

NEE NextEra Energy 0.1%

Value ($000) $1,713 Shares 21,335 Est. Cost $67.17 Unrealized +22.8%

ROST Ross Stores 0.0%

Value ($000) $625 Shares 3,467 Est. Cost $84.23 Unrealized +97.8%

SYY Sysco Corp 0.1%

Value ($000) $811 Shares 11,000 Est. Cost $71.10 Unrealized +6.2%

EW Edwards Lifesciences 0.1%

Value ($000) $1,074 Shares 12,600 Est. Cost $93.42 Unrealized -12.1%

UNP Union Pacific Corp 0.3%

Value ($000) $4,155 Shares 17,960 Est. Cost $134.23 Unrealized +69.3%

GPC Genuine Parts Company 0.0%

Value ($000) $725 Shares 5,900 Est. Cost $149.47 Unrealized -13.9%

LNC Lincoln National Corporation 0.1%

Value ($000) $926 Shares 20,800 Est. Cost $38.28 Unrealized +7.5%

DASH Doordash Inc 0.0%

Value ($000) $413 Shares 1,825 Est. Cost $117.53 Unrealized +99.6%

PM Philip Morris 0.5%

Value ($000) $7,126 Shares 44,429 Est. Cost $73.18 Unrealized +109.8%

PGR Progressive Corp 0.1%

Value ($000) $911 Shares 4,000 Est. Cost $94.56 Unrealized +124.6%

AXON Axon Enterprise Inc 0.0%

Value ($000) $284 Shares 500 Est. Cost $344.75 Unrealized +80.0%

MPC Marathon Petroleum Corp 0.0%

Value ($000) $400 Shares 2,460 Est. Cost $45.38 Unrealized +310.7%

TT Trane Tech PLC 0.1%

Value ($000) $817 Shares 2,100 Est. Cost $93.73 Unrealized +341.3%

PSX Phillips 66 0.1%

Value ($000) $1,244 Shares 9,639 Est. Cost $89.91 Unrealized +49.1%

APP Applovin Corp 0.1%

Value ($000) $884 Shares 1,312 Est. Cost $324.21 Unrealized +94.4%

QLYS Qualys Inc 0.9%

Value ($000) $13,662 Shares 102,800 Est. Cost $175.64 Unrealized -21.7%

TSLA Tesla Motors Inc 0.4%

Value ($000) $5,217 Shares 11,600 Est. Cost $210.37 Unrealized +110.7%

— Aptiv PLC 0.0%

Value ($000) $434 Shares 5,700 Est. Cost $79.65 Unrealized —

INTU Intuit 0.1%

Value ($000) $1,752 Shares 2,645 Est. Cost $160.41 Unrealized +311.9%

A Agilent 0.1%

Value ($000) $952 Shares 7,000 Est. Cost $135.18 Unrealized +6.3%

SCHW Charles Schwab Corp 0.1%

Value ($000) $1,189 Shares 11,900 Est. Cost $45.48 Unrealized +108.3%

D Dominion Energy 0.1%

Value ($000) $1,194 Shares 20,378 Est. Cost $47.73 Unrealized +25.2%

APPF AppFolio Inc 0.0%

Value ($000) $279 Shares 1,200 Est. Cost $145.62 Unrealized +63.2%

ROK Rockwell 0.0%

Value ($000) $506 Shares 1,300 Est. Cost $278.76 Unrealized +34.6%

ZTS Zoetis Inc 0.0%

Value ($000) $315 Shares 2,500 Est. Cost $175.57 Unrealized -25.8%

NKE Nike Inc Cl B 0.0%

Value ($000) $531 Shares 8,340 Est. Cost $75.97 Unrealized -14.6%

BAX Baxter Intl 0.0%

Value ($000) $252 Shares 13,200 Est. Cost $68.78 Unrealized -70.9%

WSM Williams-Sonoma 0.0%

Value ($000) $482 Shares 2,700 Est. Cost $101.31 Unrealized +84.8%

NVS Novartis AG 0.0%

Value ($000) $648 Shares 4,700 Est. Cost $73.32 Unrealized —

KEYS Keysight Technologies 0.0%

Value ($000) $325 Shares 1,600 Est. Cost $153.78 Unrealized +20.7%

TEAM Atlassian Corp CL A 0.2%

Value ($000) $2,921 Shares 18,017 Est. Cost $197.22 Unrealized -20.4%

DLR Digital Realty Trust 0.0%

Value ($000) $359 Shares 2,319 Est. Cost $91.24 Unrealized +78.8%

FITB Fifth Third Bancorp 0.1%

Value ($000) $861 Shares 18,400 Est. Cost $12.69 Unrealized +243.9%

NVO Novo Nordisk ADR 0.0%

Value ($000) $441 Shares 8,675 Est. Cost $69.79 Unrealized —

DHR Danaher Corp 0.0%

Value ($000) $275 Shares 1,200 Est. Cost $222.24 Unrealized -1.2%

LDOS Leidos Holdings Inc. 0.0%

Value ($000) $722 Shares 4,000 Est. Cost $58.80 Unrealized +221.6%

COF Capital One Financial 0.0%

Value ($000) $247 Shares 1,019 Est. Cost $185.05 Unrealized +20.1%

CEG Constl. Energy Corporation 0.0%

Value ($000) $424 Shares 1,200 Est. Cost $266.65 Unrealized +36.2%

BSX Boston Scientific 0.1%

Value ($000) $1,182 Shares 12,400 Est. Cost $45.28 Unrealized +116.5%

PBR Petroleo Brasileiro 0.0%

Value ($000) $393 Shares 33,200 Est. Cost $8.49 Unrealized —

CB Chubb Limited 0.0%

Value ($000) $275 Shares 882 Est. Cost $276.25 Unrealized +5.8%

LEVI Levi Strauss & Co 0.0%

Value ($000) $207 Shares 10,000 Est. Cost $16.15 Unrealized +32.4%

VMC Vulcan Materials 0.0%

Value ($000) $314 Shares 1,100 Est. Cost $165.34 Unrealized +77.3%

QQQ Invesco QQQ Tr Unit Ser 1 0.1%

Value ($000) $1,017 Shares 1,656 Est. Cost $522.44 Unrealized —

PAGP Plains GP Holdings 0.0%

Value ($000) $383 Shares 20,000 Est. Cost $10.30 Unrealized —

MMM 3M Company 0.0%

Value ($000) $544 Shares 3,400 Est. Cost $107.45 Unrealized +51.9%

CSX CSX Corp 0.0%

Value ($000) $638 Shares 17,600 Est. Cost $30.87 Unrealized +15.7%

VLO Valero Energy 0.0%

Value ($000) $277 Shares 1,700 Est. Cost $112.16 Unrealized +50.5%

IR Ingersoll-Rand PLC 0.0%

Value ($000) $285 Shares 3,601 Est. Cost $50.89 Unrealized +55.1%

GD General Dynamics 0.1%

Value ($000) $842 Shares 2,500 Est. Cost $258.00 Unrealized +32.1%

SHEL Shell PLC 0.0%

Value ($000) $375 Shares 5,100 Est. Cost $33.72 Unrealized —

FULT Fulton Financial 0.0%

Value ($000) $271 Shares 14,000 Est. Cost $17.42 Unrealized +4.7%

ET Energy Transfer LP 0.0%

Value ($000) $203 Shares 12,300 Est. Cost $6.78 Unrealized —

BA Boeing 0.1%

Value ($000) $1,341 Shares 6,175 Est. Cost $194.25 Unrealized +5.9%

ALL Allstate Corp 0.0%

Value ($000) $250 Shares 1,200 Est. Cost $191.27 Unrealized +6.7%

YUM YUM Brands 0.3%

Value ($000) $4,901 Shares 32,395 Est. Cost $97.62 Unrealized +51.3%

MKC McCormick and Co 0.0%

Value ($000) $395 Shares 5,800 Est. Cost $81.37 Unrealized -19.0%

TTWO Take Two 0.1%

Value ($000) $742 Shares 2,900 Est. Cost $155.25 Unrealized +60.6%

BIDU Baidu Inc 0.0%

Value ($000) $706 Shares 5,400 Est. Cost $105.28 Unrealized —

SAIC Science Applications Intl Corp 0.0%

Value ($000) $352 Shares 3,500 Est. Cost $75.45 Unrealized +26.6%

PCOR Procore Technologies Inc 0.1%

Value ($000) $1,455 Shares 20,000 Est. Cost $75.46 Unrealized -2.0%

FIS Fidelity Nationl 0.0%

Value ($000) $450 Shares 6,775 Est. Cost $72.15 Unrealized -9.0%

MCHP Microchip 0.0%

Value ($000) $395 Shares 6,200 Est. Cost $68.75 Unrealized -10.8%

SWK Stanley Black & Decker 0.1%

Value ($000) $1,827 Shares 24,600 Est. Cost $75.37 Unrealized -7.3%

AEM Agnico Eagle Mines Limit 0.0%

Value ($000) $203 Shares 1,200 Est. Cost $136.83 Unrealized +22.7%

TROW T Rowe Price Grp Inc 0.0%

Value ($000) $266 Shares 2,600 Est. Cost $95.20 Unrealized +7.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp	177,745	$85,961	5.8%	$144.67	+246.0%	COM	594918104
KO	Coca-Cola Company	1,365,746	$95,479	6.5%	$39.30	+76.6%	COM	191216100
—	Lam Research Corp	97,000	$16,604	1.1%	$94.58	—	COM	512807108
VRTX	Vertex Pharmaceutical	51,312	$23,263	1.6%	$142.63	+202.2%	COM	92532F100
AMGN	Amgen Inc	31,143	$10,193	0.7%	$190.94	+65.5%	COM	031162100
FAST	Fastenal Company	121,782	$4,887	0.3%	$33.30	+26.2%	COM	311900104
SO	Southern Co	129,777	$11,317	0.8%	$71.96	+26.3%	COM	842587107
CMI	Cummins	9,304	$4,749	0.3%	$197.76	+135.8%	COM	231021106
ISRG	Intuitive Surgical Inc	4,900	$2,775	0.2%	$361.54	+47.3%	COM	46120E602
TJX	TJX Companies	54,937	$8,439	0.6%	$78.70	+87.7%	COM	872540109
DT	Dynatrace Holdings LLC	109,000	$4,724	0.3%	$46.87	-0.5%	COM	268150109
AESI	New Atlas Holdco Inc	252,000	$2,374	0.2%	$19.19	-47.3%	COM	642045108
ADP	Automatic Data	10,300	$2,649	0.2%	$155.78	+70.0%	COM	053015103
GTLB	Gitlab Inc Cl A	47,000	$1,764	0.1%	$49.97	-13.4%	COM	37637K108
FSLR	First Solar Inc	7,500	$1,959	0.1%	$61.95	+307.1%	COM	336433107
FMC	FMC Corporation	14,448	$200	0.0%	$94.90	-80.0%	COM	302491303
ROP	Roper Technologies	5,000	$2,226	0.2%	$422.55	+9.4%	COM	776696106
MO	Altria Group	30,427	$1,754	0.1%	$30.56	+94.2%	COM	02209S103
NSC	Norfolk Southern	19,400	$5,601	0.4%	$196.42	+46.9%	COM	655844108
TMO	Thermo Fisher Scientific	2,300	$1,333	0.1%	$539.73	+4.7%	COM	883556102
NOC	Northrop Grumman Corp	5,492	$3,132	0.2%	$366.97	+57.7%	COM	666807102
TFC	Truist Financial Corporation	57,435	$2,826	0.2%	$41.00	+11.7%	COM	89832Q109
INTC	Intel Corp	56,389	$2,081	0.1%	$32.66	+15.6%	COM	458140100
EFX	Equifax Inc	4,250	$922	0.1%	$199.85	+9.4%	COM	294429105
UBS	UBS AG	29,000	$1,343	0.1%	$20.94	+93.0%	COM	H42097107
OKTA	Okta Inc	28,300	$2,447	0.2%	$118.97	-26.7%	COM	679295105
AZN	AstraZeneca PLC	8,026	$738	0.1%	$33.15	—	COM	046353108
NUE	Nucor Corp	3,888	$634	0.0%	$168.25	-11.0%	COM	670346105
BX	Blackstone Group	6,410	$988	0.1%	$99.48	+52.2%	COM	09260D107
HII	Huntington Ingalls Industries	2,000	$680	0.0%	$264.00	+17.2%	COM	446413106
NEE	NextEra Energy	21,335	$1,713	0.1%	$67.17	+22.8%	COM	65339F101
ROST	Ross Stores	3,467	$625	0.0%	$84.23	+97.8%	COM	778296103
SYY	Sysco Corp	11,000	$811	0.1%	$71.10	+6.2%	COM	871829107
EW	Edwards Lifesciences	12,600	$1,074	0.1%	$93.42	-12.1%	COM	28176E108
UNP	Union Pacific Corp	17,960	$4,155	0.3%	$134.23	+69.3%	COM	907818108
GPC	Genuine Parts Company	5,900	$725	0.0%	$149.47	-13.9%	COM	372460105
LNC	Lincoln National Corporation	20,800	$926	0.1%	$38.28	+7.5%	COM	534187109
DASH	Doordash Inc	1,825	$413	0.0%	$117.53	+99.6%	COM	25809K105
PM	Philip Morris	44,429	$7,126	0.5%	$73.18	+109.8%	COM	718172109
PGR	Progressive Corp	4,000	$911	0.1%	$94.56	+124.6%	COM	743315103
AXON	Axon Enterprise Inc	500	$284	0.0%	$344.75	+80.0%	COM	05464C101
MPC	Marathon Petroleum Corp	2,460	$400	0.0%	$45.38	+310.7%	COM	56585A102
TT	Trane Tech PLC	2,100	$817	0.1%	$93.73	+341.3%	COM	G8994E103
PSX	Phillips 66	9,639	$1,244	0.1%	$89.91	+49.1%	COM	718546104
APP	Applovin Corp	1,312	$884	0.1%	$324.21	+94.4%	COM	03831W108
QLYS	Qualys Inc	102,800	$13,662	0.9%	$175.64	-21.7%	COM	74758T303
TSLA	Tesla Motors Inc	11,600	$5,217	0.4%	$210.37	+110.7%	COM	88160R101
—	Aptiv PLC	5,700	$434	0.0%	$79.65	—	COM	G6095L109
INTU	Intuit	2,645	$1,752	0.1%	$160.41	+311.9%	COM	461202103
A	Agilent	7,000	$952	0.1%	$135.18	+6.3%	COM	00846U101
SCHW	Charles Schwab Corp	11,900	$1,189	0.1%	$45.48	+108.3%	COM	808513105
D	Dominion Energy	20,378	$1,194	0.1%	$47.73	+25.2%	COM	25746U109
APPF	AppFolio Inc	1,200	$279	0.0%	$145.62	+63.2%	COM	03783C100
ROK	Rockwell	1,300	$506	0.0%	$278.76	+34.6%	COM	773903109
ZTS	Zoetis Inc	2,500	$315	0.0%	$175.57	-25.8%	COM	98978V103
NKE	Nike Inc Cl B	8,340	$531	0.0%	$75.97	-14.6%	COM	654106103
BAX	Baxter Intl	13,200	$252	0.0%	$68.78	-70.9%	COM	071813109
WSM	Williams-Sonoma	2,700	$482	0.0%	$101.31	+84.8%	COM	969904101
NVS	Novartis AG	4,700	$648	0.0%	$73.32	—	COM	66987V109
KEYS	Keysight Technologies	1,600	$325	0.0%	$153.78	+20.7%	COM	49338L103
TEAM	Atlassian Corp CL A	18,017	$2,921	0.2%	$197.22	-20.4%	COM	049468101
DLR	Digital Realty Trust	2,319	$359	0.0%	$91.24	+78.8%	COM	253868103
FITB	Fifth Third Bancorp	18,400	$861	0.1%	$12.69	+243.9%	COM	316773100
NVO	Novo Nordisk ADR	8,675	$441	0.0%	$69.79	—	COM	670100205
DHR	Danaher Corp	1,200	$275	0.0%	$222.24	-1.2%	COM	235851102
LDOS	Leidos Holdings Inc.	4,000	$722	0.0%	$58.80	+221.6%	COM	525327102
COF	Capital One Financial	1,019	$247	0.0%	$185.05	+20.1%	COM	14040H105
CEG	Constl. Energy Corporation	1,200	$424	0.0%	$266.65	+36.2%	COM	21037T109
BSX	Boston Scientific	12,400	$1,182	0.1%	$45.28	+116.5%	COM	101137107
PBR	Petroleo Brasileiro	33,200	$393	0.0%	$8.49	—	COM	71654V408
CB	Chubb Limited	882	$275	0.0%	$276.25	+5.8%	COM	H1467J104
LEVI	Levi Strauss & Co	10,000	$207	0.0%	$16.15	+32.4%	COM	52736R102
VMC	Vulcan Materials	1,100	$314	0.0%	$165.34	+77.3%	COM	929160109
QQQ	Invesco QQQ Tr Unit Ser 1	1,656	$1,017	0.1%	$522.44	—	COM	46090E103
PAGP	Plains GP Holdings	20,000	$383	0.0%	$10.30	—	COM	72651A207
MMM	3M Company	3,400	$544	0.0%	$107.45	+51.9%	COM	88579Y101
CSX	CSX Corp	17,600	$638	0.0%	$30.87	+15.7%	COM	126408103
VLO	Valero Energy	1,700	$277	0.0%	$112.16	+50.5%	COM	91913Y100
IR	Ingersoll-Rand PLC	3,601	$285	0.0%	$50.89	+55.1%	COM	45687V106
GD	General Dynamics	2,500	$842	0.1%	$258.00	+32.1%	COM	369550108
SHEL	Shell PLC	5,100	$375	0.0%	$33.72	—	COM	780259305
FULT	Fulton Financial	14,000	$271	0.0%	$17.42	+4.7%	COM	360271100
ET	Energy Transfer LP	12,300	$203	0.0%	$6.78	—	COM	29273V100
BA	Boeing	6,175	$1,341	0.1%	$194.25	+5.9%	COM	097023105
ALL	Allstate Corp	1,200	$250	0.0%	$191.27	+6.7%	COM	020002101
YUM	YUM Brands	32,395	$4,901	0.3%	$97.62	+51.3%	COM	988498101
MKC	McCormick and Co	5,800	$395	0.0%	$81.37	-19.0%	COM	579780206
TTWO	Take Two	2,900	$742	0.1%	$155.25	+60.6%	COM	874054109
BIDU	Baidu Inc	5,400	$706	0.0%	$105.28	—	COM	056752108
SAIC	Science Applications Intl Corp	3,500	$352	0.0%	$75.45	+26.6%	COM	808625107
PCOR	Procore Technologies Inc	20,000	$1,455	0.1%	$75.46	-2.0%	COM	74275K108
FIS	Fidelity Nationl	6,775	$450	0.0%	$72.15	-9.0%	COM	31620M106
MCHP	Microchip	6,200	$395	0.0%	$68.75	-10.8%	COM	595017104
SWK	Stanley Black & Decker	24,600	$1,827	0.1%	$75.37	-7.3%	COM	854502101
AEM	Agnico Eagle Mines Limit	1,200	$203	0.0%	$136.83	+22.7%	COM	008474108
TROW	T Rowe Price Grp Inc	2,600	$266	0.0%	$95.20	+7.3%	COM	74144T108