Bedell Frazier Investment Counselling, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IYT	ISHARES TR	143,909	$10,723	2.1%	$74.51	—	US TRSPRTION	464287192
DYNF	BLACKROCK ETF TRUST	130,191	$7,917	1.5%	$60.81	—	ISHARES US EQUIT	09290C103
SCHW	SCHWAB CHARLES CORP	38,706	$3,867	0.7%	$94.74	0.0%	COM	808513105
GAP	GAP INC	82,852	$2,121	0.4%	$24.07	0.0%	COM	364760108
WRBY	WARBY PARKER INC	45,180	$984	0.2%	$21.76	0.0%	CL A COM	93403J106
XLC	SELECT SECTOR SPDR TR	5,690	$670	0.1%	$117.72	—	STATE STREET COM	81369Y852
CCJ	CAMECO CORP	3,721	$340	0.1%	$89.94	0.0%	COM	13321L108
TSEM	TOWER SEMICONDUCTOR LTD	2,700	$317	0.1%	$96.32	0.0%	SHS NEW	M87915274
QCOM	QUALCOMM INC	1,587	$271	0.1%	$170.79	0.0%	COM	747525103
XRT	SPDR SERIES TRUST	3,006	$256	0.0%	$85.29	—	STATE STREET SPD	78464A714
BMY	BRISTOL-MYERS SQUIBB CO	4,587	$247	0.0%	$47.53	0.0%	COM	110122108
XLE	SELECT SECTOR SPDR TR	5,158	$231	0.0%	$44.71	—	STATE STREET ENE	81369Y506
PEP	PEPSICO INC	1,553	$223	0.0%	$145.91	0.0%	COM	713448108
SYK	STRYKER CORPORATION	600	$211	0.0%	$363.46	0.0%	COM	863667101
FEZ	SPDR INDEX SHS FDS	3,180	$205	0.0%	$64.39	—	EURO STOXX 50	78463X202
HOOD	ROBINHOOD MKTS INC	1,776	$201	0.0%	$130.05	0.0%	COM CL A	770700102

Increased Positions (51)

LLY ELI LILLY & CO 2.7%

Value ($000) $13,843 (+84.4%) Shares 12,881 (+30.9%) Est. Cost $661.04 Unrealized +44.6%

XLK SELECT SECTOR SPDR TR 1.2%

Value ($000) $6,455 (+995.8%) Shares 44,836 (+2045.3%) Est. Cost $149.19 Unrealized —

AAPL APPLE INC 8.5%

Value ($000) $43,850 (+11.2%) Shares 161,297 (+4.1%) Est. Cost $105.91 Unrealized +153.4%

MCD MCDONALDS CORP 1.1%

Value ($000) $5,936 (+264.6%) Shares 19,423 (+262.6%) Est. Cost $281.29 Unrealized +8.5%

BA BOEING CO 1.1%

Value ($000) $5,680 (+223.8%) Shares 26,162 (+221.8%) Est. Cost $196.53 Unrealized +4.6%

AMZN AMAZON COM INC 5.2%

Value ($000) $26,922 (+16.7%) Shares 116,637 (+11.0%) Est. Cost $153.41 Unrealized +49.1%

BLK BLACKROCK INC 1.4%

Value ($000) $7,432 (+95.1%) Shares 6,944 (+112.5%) Est. Cost $1018.77 Unrealized +6.9%

FCX FREEPORT-MCMORAN INC 1.3%

Value ($000) $6,818 (+85.2%) Shares 134,247 (+43.0%) Est. Cost $42.45 Unrealized +2.0%

UBER UBER TECHNOLOGIES INC 2.2%

Value ($000) $11,575 (-14.0%) Shares 141,659 (+3.1%) Est. Cost $76.44 Unrealized +17.8%

AGG ISHARES TR 1.0%

Value ($000) $5,240 (+46.8%) Shares 52,466 (+47.4%) Est. Cost $102.90 Unrealized —

C CITIGROUP INC 1.8%

Value ($000) $9,305 (+20.6%) Shares 79,742 (+4.9%) Est. Cost $84.03 Unrealized +23.3%

JNJ JOHNSON & JOHNSON 2.4%

Value ($000) $12,446 (+14.2%) Shares 60,140 (+2.3%) Est. Cost $125.08 Unrealized +57.5%

USFR WISDOMTREE TR 0.3%

Value ($000) $1,811 (+121.8%) Shares 35,986 (+121.6%) Est. Cost $50.31 Unrealized —

KO COCA COLA CO 2.1%

Value ($000) $10,628 (+9.3%) Shares 152,018 (+3.7%) Est. Cost $49.25 Unrealized +40.9%

XLU SELECT SECTOR SPDR TR 1.6%

Value ($000) $8,357 (-9.6%) Shares 195,751 (+84.7%) Est. Cost $59.53 Unrealized —

CELH CELSIUS HLDGS INC 0.8%

Value ($000) $3,965 (-18.0%) Shares 86,675 (+3.0%) Est. Cost $44.81 Unrealized +12.4%

IBM INTERNATIONAL BUSINESS MACHS 2.0%

Value ($000) $10,134 (+7.7%) Shares 34,214 (+2.5%) Est. Cost $138.27 Unrealized +116.1%

NFLX NETFLIX INC 0.6%

Value ($000) $3,110 (+27.9%) Shares 33,168 (+1535.5%) Est. Cost $106.53 Unrealized +1.2%

BAC BANK AMERICA CORP 1.3%

Value ($000) $6,821 (+8.0%) Shares 124,013 (+1.3%) Est. Cost $16.19 Unrealized +225.2%

META META PLATFORMS INC 2.0%

Value ($000) $10,496 (+4.7%) Shares 15,901 (+16.5%) Est. Cost $647.55 Unrealized +3.1%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.8%

Value ($000) $4,031 (+10.6%) Shares 13,266 (+1.6%) Est. Cost $279.69 Unrealized —

SPY SPDR S&P 500 ETF TR 0.2%

Value ($000) $1,114 (+41.4%) Shares 1,633 (+38.2%) Est. Cost $583.23 Unrealized —

EWZ ISHARES INC 1.1%

Value ($000) $5,717 (+6.0%) Shares 179,944 (+3.4%) Est. Cost $28.98 Unrealized —

HD HOME DEPOT INC 0.6%

Value ($000) $3,181 (-8.7%) Shares 9,244 (+7.5%) Est. Cost $326.19 Unrealized +11.8%

VOO VANGUARD INDEX FDS 0.3%

Value ($000) $1,306 (+25.3%) Shares 2,083 (+22.4%) Est. Cost $525.43 Unrealized —

DIS DISNEY WALT CO 1.3%

Value ($000) $6,970 (+3.8%) Shares 61,264 (+4.4%) Est. Cost $105.10 Unrealized +4.2%

XLY SELECT SECTOR SPDR TR 0.1%

Value ($000) $540 (+76.0%) Shares 4,521 (+253.2%) Est. Cost $148.72 Unrealized —

INTC INTEL CORP 0.1%

Value ($000) $507 (+61.0%) Shares 13,739 (+46.3%) Est. Cost $28.51 Unrealized +32.4%

INDA ISHARES TR 0.1%

Value ($000) $772 (+30.0%) Shares 14,278 (+25.2%) Est. Cost $46.08 Unrealized —

CEG CONSTELLATION ENERGY CORP 0.1%

Value ($000) $399 (+65.7%) Shares 1,130 (+54.4%) Est. Cost $300.59 Unrealized +20.8%

FBT FIRST TR EXCHANGE-TRADED FD 0.1%

Value ($000) $722 (+25.9%) Shares 3,497 (+9.3%) Est. Cost $150.89 Unrealized —

COST COSTCO WHSL CORP NEW 0.7%

Value ($000) $3,619 (+4.2%) Shares 4,197 (+11.8%) Est. Cost $552.44 Unrealized +64.0%

ABBV ABBVIE INC 0.1%

Value ($000) $562 (+28.4%) Shares 2,458 (+30.1%) Est. Cost $115.78 Unrealized +96.5%

RKLB ROCKET LAB CORP 0.1%

Value ($000) $345 (+48.6%) Shares 4,950 (+2.1%) Est. Cost $25.14 Unrealized +128.0%

DVN DEVON ENERGY CORP NEW 0.2%

Value ($000) $1,138 (+9.5%) Shares 31,057 (+4.8%) Est. Cost $37.79 Unrealized -8.1%

ACWX ISHARES TR 0.1%

Value ($000) $386 (+33.2%) Shares 5,753 (+29.0%) Est. Cost $58.35 Unrealized —

SNOW SNOWFLAKE INC 0.7%

Value ($000) $3,485 (+2.8%) Shares 15,885 (+5.7%) Est. Cost $209.92 Unrealized +16.3%

RTX RTX CORPORATION 0.1%

Value ($000) $470 (+22.9%) Shares 2,564 (+12.1%) Est. Cost $95.33 Unrealized +81.8%

PANW PALO ALTO NETWORKS INC 0.2%

Value ($000) $1,101 (-7.0%) Shares 5,978 (+2.8%) Est. Cost $174.61 Unrealized +15.5%

BHP BHP GROUP LTD 0.1%

Value ($000) $747 (+12.1%) Shares 12,375 (+3.5%) Est. Cost $55.91 Unrealized —

EQT EQT CORP 1.3%

Value ($000) $6,945 (+1.1%) Shares 129,567 (+2.7%) Est. Cost $49.57 Unrealized +13.2%

MDT MEDTRONIC PLC 0.1%

Value ($000) $386 (+22.9%) Shares 4,019 (+21.9%) Est. Cost $86.33 Unrealized +12.5%

WFC WELLS FARGO CO NEW 0.1%

Value ($000) $525 (+13.8%) Shares 5,631 (+2.3%) Est. Cost $28.59 Unrealized +203.0%

NEE NEXTERA ENERGY INC 0.1%

Value ($000) $454 (+9.9%) Shares 5,657 (+3.3%) Est. Cost $59.75 Unrealized +38.1%

AXP AMERICAN EXPRESS CO 0.1%

Value ($000) $300 (+12.8%) Shares 810 (+1.3%) Est. Cost $246.51 Unrealized +44.8%

BE BLOOM ENERGY CORP 0.1%

Value ($000) $380 (+7.8%) Shares 4,370 (+4.9%) Est. Cost $23.36 Unrealized +349.8%

ABT ABBOTT LABS 0.1%

Value ($000) $442 (+6.4%) Shares 3,524 (+13.8%) Est. Cost $103.33 Unrealized +23.2%

PG PROCTER AND GAMBLE CO 0.1%

Value ($000) $359 (+6.3%) Shares 2,504 (+13.9%) Est. Cost $106.99 Unrealized +37.6%

XLB SELECT SECTOR SPDR TR 0.4%

Value ($000) $1,845 (+1.1%) Shares 40,682 (+99.8%) Est. Cost $69.12 Unrealized —

HACK AMPLIFY ETF TR 0.2%

Value ($000) $1,046 (+1.6%) Shares 13,009 (+9.7%) Est. Cost $66.19 Unrealized —

NET CLOUDFLARE INC 0.0%

Value ($000) $242 (+4.1%) Shares 1,228 (+13.3%) Est. Cost $205.02 Unrealized +3.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	12,881 (+30.9%)	$13,843 (+84.4%)	2.7%	$661.04	+44.6%	COM	532457108
XLK	SELECT SECTOR SPDR TR	44,836 (+2045.3%)	$6,455 (+995.8%)	1.2%	$149.19	—	STATE STREET TEC	81369Y803
AAPL	APPLE INC	161,297 (+4.1%)	$43,850 (+11.2%)	8.5%	$105.91	+153.4%	COM	037833100
MCD	MCDONALDS CORP	19,423 (+262.6%)	$5,936 (+264.6%)	1.1%	$281.29	+8.5%	COM	580135101
BA	BOEING CO	26,162 (+221.8%)	$5,680 (+223.8%)	1.1%	$196.53	+4.6%	COM	097023105
AMZN	AMAZON COM INC	116,637 (+11.0%)	$26,922 (+16.7%)	5.2%	$153.41	+49.1%	COM	023135106
BLK	BLACKROCK INC	6,944 (+112.5%)	$7,432 (+95.1%)	1.4%	$1018.77	+6.9%	COM	09290D101
FCX	FREEPORT-MCMORAN INC	134,247 (+43.0%)	$6,818 (+85.2%)	1.3%	$42.45	+2.0%	CL B	35671D857
UBER	UBER TECHNOLOGIES INC	141,659 (+3.1%)	$11,575 (-14.0%)	2.2%	$76.44	+17.8%	COM	90353T100
AGG	ISHARES TR	52,466 (+47.4%)	$5,240 (+46.8%)	1.0%	$102.90	—	CORE US AGGBD ET	464287226
C	CITIGROUP INC	79,742 (+4.9%)	$9,305 (+20.6%)	1.8%	$84.03	+23.3%	COM NEW	172967424
JNJ	JOHNSON & JOHNSON	60,140 (+2.3%)	$12,446 (+14.2%)	2.4%	$125.08	+57.5%	COM	478160104
USFR	WISDOMTREE TR	35,986 (+121.6%)	$1,811 (+121.8%)	0.3%	$50.31	—	FLOATNG RAT TREA	97717Y527
KO	COCA COLA CO	152,018 (+3.7%)	$10,628 (+9.3%)	2.1%	$49.25	+40.9%	COM	191216100
XLU	SELECT SECTOR SPDR TR	195,751 (+84.7%)	$8,357 (-9.6%)	1.6%	$59.53	—	STATE STREET UTI	81369Y886
CELH	CELSIUS HLDGS INC	86,675 (+3.0%)	$3,965 (-18.0%)	0.8%	$44.81	+12.4%	COM NEW	15118V207
IBM	INTERNATIONAL BUSINESS MACHS	34,214 (+2.5%)	$10,134 (+7.7%)	2.0%	$138.27	+116.1%	COM	459200101
NFLX	NETFLIX INC	33,168 (+1535.5%)	$3,110 (+27.9%)	0.6%	$106.53	+1.2%	COM	64110L106
BAC	BANK AMERICA CORP	124,013 (+1.3%)	$6,821 (+8.0%)	1.3%	$16.19	+225.2%	COM	060505104
META	META PLATFORMS INC	15,901 (+16.5%)	$10,496 (+4.7%)	2.0%	$647.55	+3.1%	CL A	30303M102
TSM	TAIWAN SEMICONDUCTOR MFG LTD	13,266 (+1.6%)	$4,031 (+10.6%)	0.8%	$279.69	—	SPONSORED ADS	874039100
SPY	SPDR S&P 500 ETF TR	1,633 (+38.2%)	$1,114 (+41.4%)	0.2%	$583.23	—	TR UNIT	78462F103
EWZ	ISHARES INC	179,944 (+3.4%)	$5,717 (+6.0%)	1.1%	$28.98	—	MSCI BRAZIL ETF	464286400
HD	HOME DEPOT INC	9,244 (+7.5%)	$3,181 (-8.7%)	0.6%	$326.19	+11.8%	COM	437076102
VOO	VANGUARD INDEX FDS	2,083 (+22.4%)	$1,306 (+25.3%)	0.3%	$525.43	—	S&P 500 ETF SHS	922908363
DIS	DISNEY WALT CO	61,264 (+4.4%)	$6,970 (+3.8%)	1.3%	$105.10	+4.2%	COM	254687106
XLY	SELECT SECTOR SPDR TR	4,521 (+253.2%)	$540 (+76.0%)	0.1%	$148.72	—	STATE STREET CON	81369Y407
INTC	INTEL CORP	13,739 (+46.3%)	$507 (+61.0%)	0.1%	$28.51	+32.4%	COM	458140100
INDA	ISHARES TR	14,278 (+25.2%)	$772 (+30.0%)	0.1%	$46.08	—	MSCI INDIA ETF	46429B598
CEG	CONSTELLATION ENERGY CORP	1,130 (+54.4%)	$399 (+65.7%)	0.1%	$300.59	+20.8%	COM	21037T109
FBT	FIRST TR EXCHANGE-TRADED FD	3,497 (+9.3%)	$722 (+25.9%)	0.1%	$150.89	—	NY ARCA BIOTECH	33733E203
COST	COSTCO WHSL CORP NEW	4,197 (+11.8%)	$3,619 (+4.2%)	0.7%	$552.44	+64.0%	COM	22160K105
ABBV	ABBVIE INC	2,458 (+30.1%)	$562 (+28.4%)	0.1%	$115.78	+96.5%	COM	00287Y109
RKLB	ROCKET LAB CORP	4,950 (+2.1%)	$345 (+48.6%)	0.1%	$25.14	+128.0%	COM	773121108
DVN	DEVON ENERGY CORP NEW	31,057 (+4.8%)	$1,138 (+9.5%)	0.2%	$37.79	-8.1%	COM	25179M103
ACWX	ISHARES TR	5,753 (+29.0%)	$386 (+33.2%)	0.1%	$58.35	—	MSCI ACWI EX US	464288240
SNOW	SNOWFLAKE INC	15,885 (+5.7%)	$3,485 (+2.8%)	0.7%	$209.92	+16.3%	COM SHS	833445109
RTX	RTX CORPORATION	2,564 (+12.1%)	$470 (+22.9%)	0.1%	$95.33	+81.8%	COM	75513E101
PANW	PALO ALTO NETWORKS INC	5,978 (+2.8%)	$1,101 (-7.0%)	0.2%	$174.61	+15.5%	COM	697435105
BHP	BHP GROUP LTD	12,375 (+3.5%)	$747 (+12.1%)	0.1%	$55.91	—	SPONSORED ADS	088606108
EQT	EQT CORP	129,567 (+2.7%)	$6,945 (+1.1%)	1.3%	$49.57	+13.2%	COM	26884L109
MDT	MEDTRONIC PLC	4,019 (+21.9%)	$386 (+22.9%)	0.1%	$86.33	+12.5%	SHS	G5960L103
WFC	WELLS FARGO CO NEW	5,631 (+2.3%)	$525 (+13.8%)	0.1%	$28.59	+203.0%	COM	949746101
NEE	NEXTERA ENERGY INC	5,657 (+3.3%)	$454 (+9.9%)	0.1%	$59.75	+38.1%	COM	65339F101
AXP	AMERICAN EXPRESS CO	810 (+1.3%)	$300 (+12.8%)	0.1%	$246.51	+44.8%	COM	025816109
BE	BLOOM ENERGY CORP	4,370 (+4.9%)	$380 (+7.8%)	0.1%	$23.36	+349.8%	COM CL A	093712107
ABT	ABBOTT LABS	3,524 (+13.8%)	$442 (+6.4%)	0.1%	$103.33	+23.2%	COM	002824100
PG	PROCTER AND GAMBLE CO	2,504 (+13.9%)	$359 (+6.3%)	0.1%	$106.99	+37.6%	COM	742718109
XLB	SELECT SECTOR SPDR TR	40,682 (+99.8%)	$1,845 (+1.1%)	0.4%	$69.12	—	STATE STREET MAT	81369Y100
HACK	AMPLIFY ETF TR	13,009 (+9.7%)	$1,046 (+1.6%)	0.2%	$66.19	—	AMPLIFY CYBERSEC	032108664
NET	CLOUDFLARE INC	1,228 (+13.3%)	$242 (+4.1%)	0.0%	$205.02	+3.2%	CL A COM	18915M107

Exited Positions (12)

ROKU ROKU INC 0.9%

Value ($000) $4,686 Shares 46,799 Est. Cost $76.00 Unrealized +33.5%

XYL XYLEM INC 0.6%

Value ($000) $3,276 Shares 22,212 Est. Cost $138.06 Unrealized +4.0%

XYZ BLOCK INC 0.5%

Value ($000) $2,557 Shares 35,378 Est. Cost $74.85 Unrealized -7.8%

— UNILEVER PLC 0.1%

Value ($000) $392 Shares 6,606 Est. Cost $60.19 Unrealized —

CB CHUBB LIMITED 0.1%

Value ($000) $268 Shares 950 Est. Cost $271.60 Unrealized +7.7%

ORCL ORACLE CORP 0.1%

Value ($000) $261 Shares 928 Est. Cost $160.80 Unrealized +48.0%

OKLO OKLO INC 0.0%

Value ($000) $257 Shares 2,300 Est. Cost $78.30 Unrealized +42.4%

CHKP CHECK POINT SOFTWARE TECH LT 0.0%

Value ($000) $222 Shares 1,075 Est. Cost $201.52 Unrealized -4.1%

SPMO INVESCO EXCH TRADED FD TR II 0.0%

Value ($000) $219 Shares 1,807 Est. Cost $121.06 Unrealized —

EPD ENTERPRISE PRODS PARTNERS L 0.0%

Value ($000) $218 Shares 6,980 Est. Cost $29.18 Unrealized —

WIX WIX COM LTD 0.0%

Value ($000) $213 Shares 1,200 Est. Cost $150.49 Unrealized -19.7%

CRDO CREDO TECHNOLOGY GROUP HOLDI 0.0%

Value ($000) $203 Shares 1,395 Est. Cost $122.39 Unrealized +25.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ROKU	ROKU INC	46,799	$4,686	0.9%	$76.00	+33.5%	—	77543R102
XYL	XYLEM INC	22,212	$3,276	0.6%	$138.06	+4.0%	—	98419M100
XYZ	BLOCK INC	35,378	$2,557	0.5%	$74.85	-7.8%	—	852234103
—	UNILEVER PLC	6,606	$392	0.1%	$60.19	—	—	904767704
CB	CHUBB LIMITED	950	$268	0.1%	$271.60	+7.7%	—	H1467J104
ORCL	ORACLE CORP	928	$261	0.1%	$160.80	+48.0%	—	68389X105
OKLO	OKLO INC	2,300	$257	0.0%	$78.30	+42.4%	—	02156V109
CHKP	CHECK POINT SOFTWARE TECH LT	1,075	$222	0.0%	$201.52	-4.1%	—	M22465104
SPMO	INVESCO EXCH TRADED FD TR II	1,807	$219	0.0%	$121.06	—	—	46138E339
EPD	ENTERPRISE PRODS PARTNERS L	6,980	$218	0.0%	$29.18	—	—	293792107
WIX	WIX COM LTD	1,200	$213	0.0%	$150.49	-19.7%	—	M98068105
CRDO	CREDO TECHNOLOGY GROUP HOLDI	1,395	$203	0.0%	$122.39	+25.7%	—	G25457105

Decreased Positions (47)

IWM ISHARES TR 0.1%

Value ($000) $355 (-97.3%) Shares 1,442 (-97.3%) Est. Cost $241.96 Unrealized —

QQQ INVESCO QQQ TR 0.1%

Value ($000) $394 (-95.2%) Shares 642 (-95.3%) Est. Cost $600.37 Unrealized —

GOOGL ALPHABET INC 5.5%

Value ($000) $28,412 (+27.1%) Shares 90,775 (-1.3%) Est. Cost $137.72 Unrealized +107.4%

BX BLACKSTONE INC 0.0%

Value ($000) $244 (-92.4%) Shares 1,585 (-91.6%) Est. Cost $166.56 Unrealized -9.1%

TSLA TESLA INC 1.0%

Value ($000) $5,404 (-32.8%) Shares 12,017 (-33.5%) Est. Cost $336.80 Unrealized +31.6%

IVOO VANGUARD ADMIRAL FDS INC 0.1%

Value ($000) $383 (-86.8%) Shares 3,423 (-86.9%) Est. Cost $110.38 Unrealized —

SOFI SOFI TECHNOLOGIES INC 0.0%

Value ($000) $208 (-92.3%) Shares 7,936 (-92.2%) Est. Cost $23.73 Unrealized +17.4%

GLD SPDR GOLD TR 5.0%

Value ($000) $26,160 (+8.8%) Shares 66,008 (-2.4%) Est. Cost $150.99 Unrealized —

NKE NIKE INC 0.8%

Value ($000) $4,113 (-33.0%) Shares 64,553 (-26.7%) Est. Cost $98.69 Unrealized -34.2%

DKNG DRAFTKINGS INC NEW 0.5%

Value ($000) $2,679 (-40.4%) Shares 77,730 (-35.3%) Est. Cost $44.34 Unrealized -25.8%

VZ VERIZON COMMUNICATIONS INC 1.4%

Value ($000) $7,041 (-20.0%) Shares 172,870 (-13.7%) Est. Cost $40.08 Unrealized +1.0%

ETN EATON CORP PLC 0.9%

Value ($000) $4,623 (-21.2%) Shares 14,513 (-7.4%) Est. Cost $358.52 Unrealized -1.2%

ANET ARISTA NETWORKS INC 1.4%

Value ($000) $7,144 (-11.4%) Shares 54,524 (-1.5%) Est. Cost $128.77 Unrealized +6.9%

— COHEN & STEERS INFRASTRUCTUR 1.5%

Value ($000) $7,670 (-9.5%) Shares 318,135 (-6.9%) Est. Cost $23.41 Unrealized —

PDBC INVESCO ACTVELY MNGD ETC FD 1.5%

Value ($000) $7,604 (-7.8%) Shares 573,902 (-6.5%) Est. Cost $13.60 Unrealized —

LIN LINDE PLC 0.4%

Value ($000) $2,247 (-21.0%) Shares 5,269 (-12.0%) Est. Cost $470.63 Unrealized -9.2%

PICK ISHARES INC 0.8%

Value ($000) $4,020 (+14.0%) Shares 78,305 (-1.2%) Est. Cost $37.87 Unrealized —

XOM EXXON MOBIL CORP 1.8%

Value ($000) $9,164 (+5.3%) Shares 76,151 (-1.3%) Est. Cost $71.08 Unrealized +62.5%

LRCX LAM RESEARCH CORP 0.4%

Value ($000) $2,296 (+23.6%) Shares 13,410 (-3.3%) Est. Cost $78.12 Unrealized +98.9%

IBIT ISHARES BITCOIN TRUST ETF 0.2%

Value ($000) $999 (-28.9%) Shares 20,114 (-6.9%) Est. Cost $65.00 Unrealized —

ROK ROCKWELL AUTOMATION INC 0.9%

Value ($000) $4,529 (+8.6%) Shares 11,640 (-2.4%) Est. Cost $276.08 Unrealized +35.9%

AMD ADVANCED MICRO DEVICES INC 0.6%

Value ($000) $3,244 (-7.3%) Shares 15,149 (-30.0%) Est. Cost $161.38 Unrealized +39.2%

PHO INVESCO EXCHANGE TRADED FD T 0.8%

Value ($000) $4,308 (-5.3%) Shares 61,189 (-3.0%) Est. Cost $46.06 Unrealized —

EOG EOG RES INC 0.5%

Value ($000) $2,585 (-7.7%) Shares 24,612 (-1.5%) Est. Cost $121.78 Unrealized -12.0%

MAR MARRIOTT INTL INC NEW 0.4%

Value ($000) $2,134 (+11.0%) Shares 6,880 (-6.9%) Est. Cost $147.74 Unrealized +93.1%

GBTC GRAYSCALE BITCOIN TRUST ETF 0.1%

Value ($000) $557 (-25.9%) Shares 8,142 (-2.7%) Est. Cost $62.75 Unrealized —

DLTR DOLLAR TREE INC 0.2%

Value ($000) $852 (+22.3%) Shares 6,924 (-6.2%) Est. Cost $102.19 Unrealized +4.9%

CVX CHEVRON CORP NEW 0.6%

Value ($000) $3,009 (-4.4%) Shares 19,744 (-2.6%) Est. Cost $111.75 Unrealized +35.5%

TT TRANE TECHNOLOGIES PLC 0.1%

Value ($000) $615 (-14.7%) Shares 1,580 (-7.5%) Est. Cost $358.81 Unrealized +15.3%

ULTA ULTA BEAUTY INC 0.4%

Value ($000) $1,962 (+5.4%) Shares 3,243 (-4.7%) Est. Cost $512.40 Unrealized +7.3%

SO SOUTHERN CO 0.2%

Value ($000) $891 (-9.4%) Shares 10,220 (-1.5%) Est. Cost $66.95 Unrealized +35.8%

XLV SELECT SECTOR SPDR TR 0.4%

Value ($000) $2,032 (+4.1%) Shares 13,126 (-6.4%) Est. Cost $113.70 Unrealized —

XLRE SELECT SECTOR SPDR TR 0.0%

Value ($000) $204 (-26.3%) Shares 5,045 (-23.1%) Est. Cost $44.67 Unrealized —

AVGO BROADCOM INC 0.4%

Value ($000) $2,060 (+3.5%) Shares 5,952 (-1.3%) Est. Cost $147.01 Unrealized +142.8%

PFE PFIZER INC 0.1%

Value ($000) $657 (-9.4%) Shares 26,395 (-7.3%) Est. Cost $24.47 Unrealized +2.3%

VRT VERTIV HOLDINGS CO 0.1%

Value ($000) $692 (-8.9%) Shares 4,270 (-15.2%) Est. Cost $115.24 Unrealized +50.6%

BCAL CALIFORNIA BANCORP 0.2%

Value ($000) $1,154 (+5.7%) Shares 61,815 (-5.5%) Est. Cost $14.47 Unrealized +26.5%

WMB WILLIAMS COS INC 0.2%

Value ($000) $787 (-6.7%) Shares 13,089 (-1.7%) Est. Cost $57.67 Unrealized +4.2%

MRK MERCK & CO INC 0.1%

Value ($000) $465 (+10.6%) Shares 4,419 (-11.8%) Est. Cost $77.39 Unrealized +20.5%

ESLT ELBIT SYS LTD 0.1%

Value ($000) $578 (+7.9%) Shares 1,000 (-4.8%) Est. Cost $467.26 Unrealized +7.1%

GS GOLDMAN SACHS GROUP INC 0.4%

Value ($000) $2,081 (+2.0%) Shares 2,367 (-7.6%) Est. Cost $481.91 Unrealized +68.8%

DIA SPDR DOW JONES INDL AVERAGE 0.1%

Value ($000) $305 (-7.3%) Shares 634 (-10.6%) Est. Cost $338.52 Unrealized —

MDY SPDR S&P MIDCAP 400 ETF TR 0.1%

Value ($000) $261 (-7.3%) Shares 433 (-8.5%) Est. Cost $533.48 Unrealized —

ADBE ADOBE INC 0.1%

Value ($000) $260 (-4.0%) Shares 744 (-3.3%) Est. Cost $391.41 Unrealized -13.1%

VIG VANGUARD SPECIALIZED FUNDS 0.1%

Value ($000) $437 (-1.3%) Shares 1,987 (-3.1%) Est. Cost $118.93 Unrealized —

WMT WALMART INC 0.1%

Value ($000) $415 (+0.9%) Shares 3,724 (-6.6%) Est. Cost $66.12 Unrealized +62.1%

VTI VANGUARD INDEX FDS 0.1%

Value ($000) $394 (-0.0%) Shares 1,174 (-2.2%) Est. Cost $328.17 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	1,442 (-97.3%)	$355 (-97.3%)	0.1%	$241.96	—	RUSSELL 2000 ETF	464287655
QQQ	INVESCO QQQ TR	642 (-95.3%)	$394 (-95.2%)	0.1%	$600.37	—	UNIT SER 1	46090E103
GOOGL	ALPHABET INC	90,775 (-1.3%)	$28,412 (+27.1%)	5.5%	$137.72	+107.4%	CAP STK CL A	02079K305
BX	BLACKSTONE INC	1,585 (-91.6%)	$244 (-92.4%)	0.0%	$166.56	-9.1%	COM	09260D107
TSLA	TESLA INC	12,017 (-33.5%)	$5,404 (-32.8%)	1.0%	$336.80	+31.6%	COM	88160R101
IVOO	VANGUARD ADMIRAL FDS INC	3,423 (-86.9%)	$383 (-86.8%)	0.1%	$110.38	—	MIDCP 400 IDX	921932885
SOFI	SOFI TECHNOLOGIES INC	7,936 (-92.2%)	$208 (-92.3%)	0.0%	$23.73	+17.4%	COM	83406F102
GLD	SPDR GOLD TR	66,008 (-2.4%)	$26,160 (+8.8%)	5.0%	$150.99	—	GOLD SHS	78463V107
NKE	NIKE INC	64,553 (-26.7%)	$4,113 (-33.0%)	0.8%	$98.69	-34.2%	CL B	654106103
DKNG	DRAFTKINGS INC NEW	77,730 (-35.3%)	$2,679 (-40.4%)	0.5%	$44.34	-25.8%	COM CL A	26142V105
VZ	VERIZON COMMUNICATIONS INC	172,870 (-13.7%)	$7,041 (-20.0%)	1.4%	$40.08	+1.0%	COM	92343V104
ETN	EATON CORP PLC	14,513 (-7.4%)	$4,623 (-21.2%)	0.9%	$358.52	-1.2%	SHS	G29183103
ANET	ARISTA NETWORKS INC	54,524 (-1.5%)	$7,144 (-11.4%)	1.4%	$128.77	+6.9%	COM SHS	040413205
—	COHEN & STEERS INFRASTRUCTUR	318,135 (-6.9%)	$7,670 (-9.5%)	1.5%	$23.41	—	COM	19248A109
PDBC	INVESCO ACTVELY MNGD ETC FD	573,902 (-6.5%)	$7,604 (-7.8%)	1.5%	$13.60	—	OPTIMUM YIELD	46090F100
LIN	LINDE PLC	5,269 (-12.0%)	$2,247 (-21.0%)	0.4%	$470.63	-9.2%	SHS	G54950103
PICK	ISHARES INC	78,305 (-1.2%)	$4,020 (+14.0%)	0.8%	$37.87	—	MSCI GBL ETF NEW	46434G848
XOM	EXXON MOBIL CORP	76,151 (-1.3%)	$9,164 (+5.3%)	1.8%	$71.08	+62.5%	COM	30231G102
LRCX	LAM RESEARCH CORP	13,410 (-3.3%)	$2,296 (+23.6%)	0.4%	$78.12	+98.9%	COM NEW	512807306
IBIT	ISHARES BITCOIN TRUST ETF	20,114 (-6.9%)	$999 (-28.9%)	0.2%	$65.00	—	SHS BEN INT	46438F101
ROK	ROCKWELL AUTOMATION INC	11,640 (-2.4%)	$4,529 (+8.6%)	0.9%	$276.08	+35.9%	COM	773903109
AMD	ADVANCED MICRO DEVICES INC	15,149 (-30.0%)	$3,244 (-7.3%)	0.6%	$161.38	+39.2%	COM	007903107
PHO	INVESCO EXCHANGE TRADED FD T	61,189 (-3.0%)	$4,308 (-5.3%)	0.8%	$46.06	—	WATER RES ETF	46137V142
EOG	EOG RES INC	24,612 (-1.5%)	$2,585 (-7.7%)	0.5%	$121.78	-12.0%	COM	26875P101
MAR	MARRIOTT INTL INC NEW	6,880 (-6.9%)	$2,134 (+11.0%)	0.4%	$147.74	+93.1%	CL A	571903202
GBTC	GRAYSCALE BITCOIN TRUST ETF	8,142 (-2.7%)	$557 (-25.9%)	0.1%	$62.75	—	SHS REP COM UT	389637109
DLTR	DOLLAR TREE INC	6,924 (-6.2%)	$852 (+22.3%)	0.2%	$102.19	+4.9%	COM	256746108
CVX	CHEVRON CORP NEW	19,744 (-2.6%)	$3,009 (-4.4%)	0.6%	$111.75	+35.5%	COM	166764100
TT	TRANE TECHNOLOGIES PLC	1,580 (-7.5%)	$615 (-14.7%)	0.1%	$358.81	+15.3%	SHS	G8994E103
ULTA	ULTA BEAUTY INC	3,243 (-4.7%)	$1,962 (+5.4%)	0.4%	$512.40	+7.3%	COM	90384S303
SO	SOUTHERN CO	10,220 (-1.5%)	$891 (-9.4%)	0.2%	$66.95	+35.8%	COM	842587107
XLV	SELECT SECTOR SPDR TR	13,126 (-6.4%)	$2,032 (+4.1%)	0.4%	$113.70	—	STATE STREET HEA	81369Y209
XLRE	SELECT SECTOR SPDR TR	5,045 (-23.1%)	$204 (-26.3%)	0.0%	$44.67	—	STATE STREET REA	81369Y860
AVGO	BROADCOM INC	5,952 (-1.3%)	$2,060 (+3.5%)	0.4%	$147.01	+142.8%	COM	11135F101
PFE	PFIZER INC	26,395 (-7.3%)	$657 (-9.4%)	0.1%	$24.47	+2.3%	COM	717081103
VRT	VERTIV HOLDINGS CO	4,270 (-15.2%)	$692 (-8.9%)	0.1%	$115.24	+50.6%	COM CL A	92537N108
BCAL	CALIFORNIA BANCORP	61,815 (-5.5%)	$1,154 (+5.7%)	0.2%	$14.47	+26.5%	COM	84252A106
WMB	WILLIAMS COS INC	13,089 (-1.7%)	$787 (-6.7%)	0.2%	$57.67	+4.2%	COM	969457100
MRK	MERCK & CO INC	4,419 (-11.8%)	$465 (+10.6%)	0.1%	$77.39	+20.5%	COM	58933Y105
ESLT	ELBIT SYS LTD	1,000 (-4.8%)	$578 (+7.9%)	0.1%	$467.26	+7.1%	ORD	M3760D101
GS	GOLDMAN SACHS GROUP INC	2,367 (-7.6%)	$2,081 (+2.0%)	0.4%	$481.91	+68.8%	COM	38141G104
DIA	SPDR DOW JONES INDL AVERAGE	634 (-10.6%)	$305 (-7.3%)	0.1%	$338.52	—	UT SER 1	78467X109
MDY	SPDR S&P MIDCAP 400 ETF TR	433 (-8.5%)	$261 (-7.3%)	0.1%	$533.48	—	UTSER1 S&PDCRP	78467Y107
ADBE	ADOBE INC	744 (-3.3%)	$260 (-4.0%)	0.1%	$391.41	-13.1%	COM	00724F101
VIG	VANGUARD SPECIALIZED FUNDS	1,987 (-3.1%)	$437 (-1.3%)	0.1%	$118.93	—	DIV APP ETF	921908844
WMT	WALMART INC	3,724 (-6.6%)	$415 (+0.9%)	0.1%	$66.12	+62.1%	COM	931142103
VTI	VANGUARD INDEX FDS	1,174 (-2.2%)	$394 (-0.0%)	0.1%	$328.17	—	TOTAL STK MKT	922908769

Unchanged Positions (19)

ALB ALBEMARLE CORP 1.1%

Value ($000) $5,629 Shares 39,801 Est. Cost $76.57 Unrealized +47.9%

REGN REGENERON PHARMACEUTICALS 1.0%

Value ($000) $5,304 Shares 6,872 Est. Cost $558.85 Unrealized +21.4%

MSFT MICROSOFT CORP 2.8%

Value ($000) $14,535 Shares 30,055 Est. Cost $214.67 Unrealized +133.2%

GOOG ALPHABET INC 0.6%

Value ($000) $3,103 Shares 9,888 Est. Cost $141.87 Unrealized +101.8%

CSCO CISCO SYS INC 0.5%

Value ($000) $2,521 Shares 32,724 Est. Cost $42.14 Unrealized +75.1%

LMT LOCKHEED MARTIN CORP 1.9%

Value ($000) $9,773 Shares 20,206 Est. Cost $336.29 Unrealized +41.6%

CRWD CROWDSTRIKE HLDGS INC 1.1%

Value ($000) $5,752 Shares 12,271 Est. Cost $446.30 Unrealized +14.1%

JPM JPMORGAN CHASE & CO. 0.9%

Value ($000) $4,549 Shares 14,118 Est. Cost $112.88 Unrealized +174.2%

XLF SELECT SECTOR SPDR TR 0.7%

Value ($000) $3,884 Shares 70,909 Est. Cost $53.87 Unrealized —

NVDA NVIDIA CORPORATION 1.6%

Value ($000) $8,226 Shares 44,108 Est. Cost $96.00 Unrealized +93.9%

GDX VANECK ETF TRUST 0.1%

Value ($000) $322 Shares 3,760 Est. Cost $76.40 Unrealized —

V VISA INC 0.3%

Value ($000) $1,538 Shares 4,386 Est. Cost $210.84 Unrealized +61.4%

APD AIR PRODS & CHEMS INC 0.0%

Value ($000) $247 Shares 1,000 Est. Cost $149.41 Unrealized +68.4%

GEV GE VERNOVA INC 0.0%

Value ($000) $213 Shares 326 Est. Cost $605.52 Unrealized +0.6%

XLI SELECT SECTOR SPDR TR 0.6%

Value ($000) $3,266 Shares 21,057 Est. Cost $133.81 Unrealized —

GE GE AEROSPACE 0.1%

Value ($000) $379 Shares 1,231 Est. Cost $198.06 Unrealized +51.9%

NOBL PROSHARES TR 0.1%

Value ($000) $338 Shares 3,247 Est. Cost $104.48 Unrealized —

AMX AMERICA MOVIL SAB DE CV 0.0%

Value ($000) $207 Shares 10,000 Est. Cost $21.00 Unrealized —

MA MASTERCARD INCORPORATED 0.1%

Value ($000) $265 Shares 465 Est. Cost $457.64 Unrealized +22.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ALB	ALBEMARLE CORP	39,801	$5,629	1.1%	$76.57	+47.9%	COM	012653101
REGN	REGENERON PHARMACEUTICALS	6,872	$5,304	1.0%	$558.85	+21.4%	COM	75886F107
MSFT	MICROSOFT CORP	30,055	$14,535	2.8%	$214.67	+133.2%	COM	594918104
GOOG	ALPHABET INC	9,888	$3,103	0.6%	$141.87	+101.8%	CAP STK CL C	02079K107
CSCO	CISCO SYS INC	32,724	$2,521	0.5%	$42.14	+75.1%	COM	17275R102
LMT	LOCKHEED MARTIN CORP	20,206	$9,773	1.9%	$336.29	+41.6%	COM	539830109
CRWD	CROWDSTRIKE HLDGS INC	12,271	$5,752	1.1%	$446.30	+14.1%	CL A	22788C105
JPM	JPMORGAN CHASE & CO.	14,118	$4,549	0.9%	$112.88	+174.2%	COM	46625H100
XLF	SELECT SECTOR SPDR TR	70,909	$3,884	0.7%	$53.87	—	STATE STREET FIN	81369Y605
NVDA	NVIDIA CORPORATION	44,108	$8,226	1.6%	$96.00	+93.9%	COM	67066G104
GDX	VANECK ETF TRUST	3,760	$322	0.1%	$76.40	—	GOLD MINERS ETF	92189F106
V	VISA INC	4,386	$1,538	0.3%	$210.84	+61.4%	COM CL A	92826C839
APD	AIR PRODS & CHEMS INC	1,000	$247	0.0%	$149.41	+68.4%	COM	009158106
GEV	GE VERNOVA INC	326	$213	0.0%	$605.52	+0.6%	COM	36828A101
XLI	SELECT SECTOR SPDR TR	21,057	$3,266	0.6%	$133.81	—	STATE STREET IND	81369Y704
GE	GE AEROSPACE	1,231	$379	0.1%	$198.06	+51.9%	COM NEW	369604301
NOBL	PROSHARES TR	3,247	$338	0.1%	$104.48	—	S&P 500 DV ARIST	74348A467
AMX	AMERICA MOVIL SAB DE CV	10,000	$207	0.0%	$21.00	—	SPON ADS RP CL B	02390A101
MA	MASTERCARD INCORPORATED	465	$265	0.1%	$457.64	+22.1%	CL A	57636Q104