Telos Capital Management, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NKE	NIKE INC	35,198	$2,242	0.2%	$64.91	0.0%	CL B	654106103
XLP	SELECT SECTOR SPDR TR	10,615	$825	0.1%	$77.68	—	STATE STREET CON	81369Y308
SCHB	SCHWAB STRATEGIC TR	10,234	$268	0.0%	$26.23	—	US BRD MKT ETF	808524102
BAC	BANK AMERICA CORP	4,308	$237	0.0%	$52.67	0.0%	COM	060505104
SYK	STRYKER CORPORATION	658	$231	0.0%	$363.46	0.0%	COM	863667101
TXN	TEXAS INSTRS INC	1,294	$224	0.0%	$170.73	0.0%	COM	882508104
ED	CONSOLIDATED EDISON INC	2,200	$219	0.0%	$98.79	0.0%	COM	209115104
VB	VANGUARD INDEX FDS	783	$202	0.0%	$257.95	—	SMALL CP ETF	922908751

Increased Positions (53)

EOG EOG RES INC 1.3%

Value ($000) $14,366 (+87.6%) Shares 136,802 (+100.3%) Est. Cost $114.31 Unrealized -6.2%

AVEM AMERICAN CENTY ETF TR 0.5%

Value ($000) $5,725 (+494.8%) Shares 74,335 (+480.1%) Est. Cost $74.34 Unrealized —

ORCL ORACLE CORP 0.8%

Value ($000) $8,408 (-28.3%) Shares 43,136 (+3.4%) Est. Cost $69.33 Unrealized +243.3%

HD HOME DEPOT INC 2.0%

Value ($000) $21,236 (-11.8%) Shares 61,714 (+3.8%) Est. Cost $278.49 Unrealized +30.9%

NOW SERVICENOW INC 0.7%

Value ($000) $7,803 (+34.2%) Shares 50,940 (+706.0%) Est. Cost $164.40 Unrealized +4.3%

VRTX VERTEX PHARMACEUTICALS INC 0.9%

Value ($000) $10,144 (+22.2%) Shares 22,376 (+5.6%) Est. Cost $285.66 Unrealized +50.9%

PANW PALO ALTO NETWORKS INC 1.4%

Value ($000) $14,670 (-8.5%) Shares 79,640 (+1.1%) Est. Cost $175.16 Unrealized +15.2%

VEU VANGUARD INTL EQUITY INDEX F 2.4%

Value ($000) $25,945 (+4.7%) Shares 352,707 (+1.6%) Est. Cost $52.44 Unrealized —

CARR CARRIER GLOBAL CORPORATION 0.9%

Value ($000) $9,827 (-9.5%) Shares 185,983 (+2.2%) Est. Cost $44.27 Unrealized +25.4%

PEP PEPSICO INC 2.0%

Value ($000) $20,989 (+5.2%) Shares 146,242 (+2.9%) Est. Cost $119.98 Unrealized +21.6%

EW EDWARDS LIFESCIENCES CORP 0.6%

Value ($000) $6,625 (+18.2%) Shares 77,715 (+7.8%) Est. Cost $76.70 Unrealized +7.0%

NFLX NETFLIX INC 0.4%

Value ($000) $4,451 (-16.8%) Shares 47,474 (+964.4%) Est. Cost $104.73 Unrealized +2.9%

SPY SPDR S&P 500 ETF TR 0.3%

Value ($000) $2,930 (+42.3%) Shares 4,297 (+39.0%) Est. Cost $578.77 Unrealized —

V VISA INC 2.0%

Value ($000) $21,348 (+3.9%) Shares 60,872 (+1.1%) Est. Cost $172.65 Unrealized +97.2%

COST COSTCO WHSL CORP NEW 1.1%

Value ($000) $11,502 (+6.1%) Shares 13,338 (+13.9%) Est. Cost $434.66 Unrealized +108.4%

RMD RESMED INC 0.7%

Value ($000) $7,965 (-7.3%) Shares 33,069 (+5.4%) Est. Cost $135.77 Unrealized +88.1%

ARE ALEXANDRIA REAL ESTATE EQ IN 0.1%

Value ($000) $954 (-38.4%) Shares 19,500 (+4.8%) Est. Cost $94.94 Unrealized -38.9%

GPC GENUINE PARTS CO 0.5%

Value ($000) $5,291 (-8.9%) Shares 43,034 (+2.7%) Est. Cost $88.69 Unrealized +45.1%

IJH ISHARES TR 1.1%

Value ($000) $12,260 (+4.3%) Shares 185,760 (+3.1%) Est. Cost $79.23 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 0.8%

Value ($000) $8,469 (+5.5%) Shares 106,220 (+5.7%) Est. Cost $77.19 Unrealized —

CPT CAMDEN PPTY TR 0.2%

Value ($000) $1,876 (+29.3%) Shares 17,040 (+25.4%) Est. Cost $92.19 Unrealized +11.9%

SO SOUTHERN CO 0.6%

Value ($000) $6,255 (-6.2%) Shares 71,730 (+2.0%) Est. Cost $46.99 Unrealized +93.5%

SCHD SCHWAB STRATEGIC TR 0.1%

Value ($000) $598 (+192.2%) Shares 21,814 (+190.9%) Est. Cost $27.38 Unrealized —

WM WASTE MGMT INC DEL 0.4%

Value ($000) $4,147 (+10.4%) Shares 18,874 (+11.0%) Est. Cost $109.93 Unrealized +93.4%

O REALTY INCOME CORP 0.5%

Value ($000) $5,846 (-5.4%) Shares 103,708 (+2.0%) Est. Cost $42.20 Unrealized +35.9%

DIS DISNEY WALT CO 0.8%

Value ($000) $8,925 (+3.8%) Shares 78,447 (+4.5%) Est. Cost $108.32 Unrealized +1.1%

UDR UDR INC 0.2%

Value ($000) $1,739 (+22.5%) Shares 47,421 (+24.5%) Est. Cost $34.11 Unrealized +4.1%

VGT VANGUARD WORLD FD 0.1%

Value ($000) $1,509 (+25.2%) Shares 2,002 (+24.0%) Est. Cost $672.97 Unrealized —

MAA MID-AMER APT CMNTYS INC 0.2%

Value ($000) $1,972 (+16.8%) Shares 14,194 (+17.5%) Est. Cost $103.87 Unrealized +28.0%

AVUV AMERICAN CENTY ETF TR 0.4%

Value ($000) $4,643 (+6.1%) Shares 45,528 (+3.5%) Est. Cost $90.89 Unrealized —

IJR ISHARES TR 0.6%

Value ($000) $6,873 (+3.5%) Shares 57,192 (+2.4%) Est. Cost $92.52 Unrealized —

PSX PHILLIPS 66 0.7%

Value ($000) $7,459 (-2.7%) Shares 57,803 (+2.5%) Est. Cost $84.93 Unrealized +57.8%

VTV VANGUARD INDEX FDS 0.0%

Value ($000) $419 (+71.8%) Shares 2,194 (+67.7%) Est. Cost $153.94 Unrealized —

XLF SELECT SECTOR SPDR TR 0.3%

Value ($000) $3,374 (+4.8%) Shares 61,600 (+3.1%) Est. Cost $50.28 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.4%

Value ($000) $3,966 (+3.6%) Shares 20,702 (+2.6%) Est. Cost $150.41 Unrealized —

VOO VANGUARD INDEX FDS 0.1%

Value ($000) $677 (+24.7%) Shares 1,080 (+21.8%) Est. Cost $438.51 Unrealized —

SLG SL GREEN RLTY CORP 0.0%

Value ($000) $517 (-20.5%) Shares 11,277 (+3.6%) Est. Cost $61.64 Unrealized —

VCIT VANGUARD SCOTTSDALE FDS 0.6%

Value ($000) $6,544 (+1.7%) Shares 78,143 (+2.2%) Est. Cost $84.50 Unrealized —

MCD MCDONALDS CORP 0.6%

Value ($000) $6,408 (+1.7%) Shares 20,966 (+1.2%) Est. Cost $259.36 Unrealized +17.6%

DLR DIGITAL RLTY TR INC 0.1%

Value ($000) $1,342 (-7.4%) Shares 8,677 (+3.4%) Est. Cost $103.72 Unrealized +57.3%

XLU SELECT SECTOR SPDR TR 0.1%

Value ($000) $1,073 (-7.1%) Shares 25,140 (+89.8%) Est. Cost $50.75 Unrealized —

AFL AFLAC INC 0.2%

Value ($000) $1,817 (+4.7%) Shares 16,477 (+6.1%) Est. Cost $51.39 Unrealized +113.7%

XLK SELECT SECTOR SPDR TR 0.0%

Value ($000) $312 (+30.1%) Shares 2,167 (+154.6%) Est. Cost $187.16 Unrealized —

EMR EMERSON ELEC CO 0.1%

Value ($000) $1,148 (+3.6%) Shares 8,650 (+2.4%) Est. Cost $74.62 Unrealized +77.4%

XLE SELECT SECTOR SPDR TR 0.1%

Value ($000) $794 (-4.1%) Shares 17,766 (+91.6%) Est. Cost $69.96 Unrealized —

RSG REPUBLIC SVCS INC 0.8%

Value ($000) $8,782 (+0.4%) Shares 41,439 (+8.7%) Est. Cost $122.51 Unrealized +75.2%

KIM KIMCO RLTY CORP 0.1%

Value ($000) $653 (-3.6%) Shares 32,208 (+3.9%) Est. Cost $15.17 Unrealized +35.6%

BLK BLACKROCK INC 0.0%

Value ($000) $316 (+7.0%) Shares 295 (+16.6%) Est. Cost $955.34 Unrealized +14.0%

BA BOEING CO 0.0%

Value ($000) $333 (+6.1%) Shares 1,532 (+5.5%) Est. Cost $167.13 Unrealized +23.1%

NVO NOVO-NORDISK A S 0.0%

Value ($000) $230 (-5.9%) Shares 4,519 (+2.7%) Est. Cost $55.37 Unrealized —

REG REGENCY CTRS CORP 0.0%

Value ($000) $371 (-2.5%) Shares 5,378 (+2.9%) Est. Cost $48.99 Unrealized +41.8%

PFF ISHARES TR 0.1%

Value ($000) $988 (-0.9%) Shares 31,915 (+1.2%) Est. Cost $36.85 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.1%

Value ($000) $668 (-0.4%) Shares 16,410 (+7.4%) Est. Cost $36.22 Unrealized +11.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EOG	EOG RES INC	136,802 (+100.3%)	$14,366 (+87.6%)	1.3%	$114.31	-6.2%	COM	26875P101
AVEM	AMERICAN CENTY ETF TR	74,335 (+480.1%)	$5,725 (+494.8%)	0.5%	$74.34	—	AVANTIS EMGMKT	025072604
ORCL	ORACLE CORP	43,136 (+3.4%)	$8,408 (-28.3%)	0.8%	$69.33	+243.3%	COM	68389X105
HD	HOME DEPOT INC	61,714 (+3.8%)	$21,236 (-11.8%)	2.0%	$278.49	+30.9%	COM	437076102
NOW	SERVICENOW INC	50,940 (+706.0%)	$7,803 (+34.2%)	0.7%	$164.40	+4.3%	COM	81762P102
VRTX	VERTEX PHARMACEUTICALS INC	22,376 (+5.6%)	$10,144 (+22.2%)	0.9%	$285.66	+50.9%	COM	92532F100
PANW	PALO ALTO NETWORKS INC	79,640 (+1.1%)	$14,670 (-8.5%)	1.4%	$175.16	+15.2%	COM	697435105
VEU	VANGUARD INTL EQUITY INDEX F	352,707 (+1.6%)	$25,945 (+4.7%)	2.4%	$52.44	—	ALLWRLD EX US	922042775
CARR	CARRIER GLOBAL CORPORATION	185,983 (+2.2%)	$9,827 (-9.5%)	0.9%	$44.27	+25.4%	COM	14448C104
PEP	PEPSICO INC	146,242 (+2.9%)	$20,989 (+5.2%)	2.0%	$119.98	+21.6%	COM	713448108
EW	EDWARDS LIFESCIENCES CORP	77,715 (+7.8%)	$6,625 (+18.2%)	0.6%	$76.70	+7.0%	COM	28176E108
NFLX	NETFLIX INC	47,474 (+964.4%)	$4,451 (-16.8%)	0.4%	$104.73	+2.9%	COM	64110L106
SPY	SPDR S&P 500 ETF TR	4,297 (+39.0%)	$2,930 (+42.3%)	0.3%	$578.77	—	TR UNIT	78462F103
V	VISA INC	60,872 (+1.1%)	$21,348 (+3.9%)	2.0%	$172.65	+97.2%	COM CL A	92826C839
COST	COSTCO WHSL CORP NEW	13,338 (+13.9%)	$11,502 (+6.1%)	1.1%	$434.66	+108.4%	COM	22160K105
RMD	RESMED INC	33,069 (+5.4%)	$7,965 (-7.3%)	0.7%	$135.77	+88.1%	COM	761152107
ARE	ALEXANDRIA REAL ESTATE EQ IN	19,500 (+4.8%)	$954 (-38.4%)	0.1%	$94.94	-38.9%	COM	015271109
GPC	GENUINE PARTS CO	43,034 (+2.7%)	$5,291 (-8.9%)	0.5%	$88.69	+45.1%	COM	372460105
IJH	ISHARES TR	185,760 (+3.1%)	$12,260 (+4.3%)	1.1%	$79.23	—	CORE S&P MCP ETF	464287507
VCSH	VANGUARD SCOTTSDALE FDS	106,220 (+5.7%)	$8,469 (+5.5%)	0.8%	$77.19	—	SHRT TRM CORP BD	92206C409
CPT	CAMDEN PPTY TR	17,040 (+25.4%)	$1,876 (+29.3%)	0.2%	$92.19	+11.9%	SH BEN INT	133131102
SO	SOUTHERN CO	71,730 (+2.0%)	$6,255 (-6.2%)	0.6%	$46.99	+93.5%	COM	842587107
SCHD	SCHWAB STRATEGIC TR	21,814 (+190.9%)	$598 (+192.2%)	0.1%	$27.38	—	US DIVIDEND EQ	808524797
WM	WASTE MGMT INC DEL	18,874 (+11.0%)	$4,147 (+10.4%)	0.4%	$109.93	+93.4%	COM	94106L109
O	REALTY INCOME CORP	103,708 (+2.0%)	$5,846 (-5.4%)	0.5%	$42.20	+35.9%	COM	756109104
DIS	DISNEY WALT CO	78,447 (+4.5%)	$8,925 (+3.8%)	0.8%	$108.32	+1.1%	COM	254687106
UDR	UDR INC	47,421 (+24.5%)	$1,739 (+22.5%)	0.2%	$34.11	+4.1%	COM	902653104
VGT	VANGUARD WORLD FD	2,002 (+24.0%)	$1,509 (+25.2%)	0.1%	$672.97	—	INF TECH ETF	92204A702
MAA	MID-AMER APT CMNTYS INC	14,194 (+17.5%)	$1,972 (+16.8%)	0.2%	$103.87	+28.0%	COM	59522J103
AVUV	AMERICAN CENTY ETF TR	45,528 (+3.5%)	$4,643 (+6.1%)	0.4%	$90.89	—	US SML CP VALU	025072877
IJR	ISHARES TR	57,192 (+2.4%)	$6,873 (+3.5%)	0.6%	$92.52	—	CORE S&P SCP ETF	464287804
PSX	PHILLIPS 66	57,803 (+2.5%)	$7,459 (-2.7%)	0.7%	$84.93	+57.8%	COM	718546104
VTV	VANGUARD INDEX FDS	2,194 (+67.7%)	$419 (+71.8%)	0.0%	$153.94	—	VALUE ETF	922908744
XLF	SELECT SECTOR SPDR TR	61,600 (+3.1%)	$3,374 (+4.8%)	0.3%	$50.28	—	STATE STREET FIN	81369Y605
RSP	INVESCO EXCHANGE TRADED FD T	20,702 (+2.6%)	$3,966 (+3.6%)	0.4%	$150.41	—	S&P500 EQL WGT	46137V357
VOO	VANGUARD INDEX FDS	1,080 (+21.8%)	$677 (+24.7%)	0.1%	$438.51	—	S&P 500 ETF SHS	922908363
SLG	SL GREEN RLTY CORP	11,277 (+3.6%)	$517 (-20.5%)	0.0%	$61.64	—	COM	78440X887
VCIT	VANGUARD SCOTTSDALE FDS	78,143 (+2.2%)	$6,544 (+1.7%)	0.6%	$84.50	—	INT-TERM CORP	92206C870
MCD	MCDONALDS CORP	20,966 (+1.2%)	$6,408 (+1.7%)	0.6%	$259.36	+17.6%	COM	580135101
DLR	DIGITAL RLTY TR INC	8,677 (+3.4%)	$1,342 (-7.4%)	0.1%	$103.72	+57.3%	COM	253868103
XLU	SELECT SECTOR SPDR TR	25,140 (+89.8%)	$1,073 (-7.1%)	0.1%	$50.75	—	STATE STREET UTI	81369Y886
AFL	AFLAC INC	16,477 (+6.1%)	$1,817 (+4.7%)	0.2%	$51.39	+113.7%	COM	001055102
XLK	SELECT SECTOR SPDR TR	2,167 (+154.6%)	$312 (+30.1%)	0.0%	$187.16	—	STATE STREET TEC	81369Y803
EMR	EMERSON ELEC CO	8,650 (+2.4%)	$1,148 (+3.6%)	0.1%	$74.62	+77.4%	COM	291011104
XLE	SELECT SECTOR SPDR TR	17,766 (+91.6%)	$794 (-4.1%)	0.1%	$69.96	—	STATE STREET ENE	81369Y506
RSG	REPUBLIC SVCS INC	41,439 (+8.7%)	$8,782 (+0.4%)	0.8%	$122.51	+75.2%	COM	760759100
KIM	KIMCO RLTY CORP	32,208 (+3.9%)	$653 (-3.6%)	0.1%	$15.17	+35.6%	COM	49446R109
BLK	BLACKROCK INC	295 (+16.6%)	$316 (+7.0%)	0.0%	$955.34	+14.0%	COM	09290D101
BA	BOEING CO	1,532 (+5.5%)	$333 (+6.1%)	0.0%	$167.13	+23.1%	COM	097023105
NVO	NOVO-NORDISK A S	4,519 (+2.7%)	$230 (-5.9%)	0.0%	$55.37	—	ADR	670100205
REG	REGENCY CTRS CORP	5,378 (+2.9%)	$371 (-2.5%)	0.0%	$48.99	+41.8%	COM	758849103
PFF	ISHARES TR	31,915 (+1.2%)	$988 (-0.9%)	0.1%	$36.85	—	PFD AND INCM SEC	464288687
VZ	VERIZON COMMUNICATIONS INC	16,410 (+7.4%)	$668 (-0.4%)	0.1%	$36.22	+11.8%	COM	92343V104

Exited Positions (6)

BRK/A BERKSHIRE HATHAWAY INC DEL 0.1%

Value ($000) $754 Shares 1 Est. Cost $729330.75 Unrealized +2.3%

— FLAGSTAR FINANCIAL INC 0.0%

Value ($000) $367 Shares 9,200 Est. Cost $38.46 Unrealized —

GEV GE VERNOVA INC 0.0%

Value ($000) $263 Shares 427 Est. Cost $605.52 Unrealized +0.6%

VLTO VERALTO CORP 0.0%

Value ($000) $235 Shares 2,200 Est. Cost $73.75 Unrealized +37.0%

ALNY ALNYLAM PHARMACEUTICALS INC 0.0%

Value ($000) $220 Shares 483 Est. Cost $407.20 Unrealized +8.7%

CAG CONAGRA BRANDS INC 0.0%

Value ($000) $183 Shares 10,001 Est. Cost $18.68 Unrealized -5.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BRK/A	BERKSHIRE HATHAWAY INC DEL	1	$754	0.1%	$729330.75	+2.3%	—	084670108
—	FLAGSTAR FINANCIAL INC	9,200	$367	0.0%	$38.46	—	—	64944P307
GEV	GE VERNOVA INC	427	$263	0.0%	$605.52	+0.6%	—	36828A101
VLTO	VERALTO CORP	2,200	$235	0.0%	$73.75	+37.0%	—	92338C103
ALNY	ALNYLAM PHARMACEUTICALS INC	483	$220	0.0%	$407.20	+8.7%	—	02043Q107
CAG	CONAGRA BRANDS INC	10,001	$183	0.0%	$18.68	-5.6%	—	205887102

Decreased Positions (74)

GOOGL ALPHABET INC 3.1%

Value ($000) $32,976 (+21.4%) Shares 105,355 (-5.7%) Est. Cost $108.82 Unrealized +162.5%

J JACOBS SOLUTIONS INC 0.9%

Value ($000) $10,091 (-26.7%) Shares 76,179 (-17.1%) Est. Cost $103.23 Unrealized +41.8%

GOOG ALPHABET INC 1.7%

Value ($000) $18,053 (+23.7%) Shares 57,531 (-4.0%) Est. Cost $108.41 Unrealized +164.1%

AAPL APPLE INC 5.7%

Value ($000) $61,361 (+4.9%) Shares 225,706 (-1.8%) Est. Cost $92.84 Unrealized +189.0%

NOC NORTHROP GRUMMAN CORP 1.6%

Value ($000) $16,861 (-7.5%) Shares 29,570 (-1.1%) Est. Cost $326.96 Unrealized +77.0%

DHR DANAHER CORPORATION 1.0%

Value ($000) $10,906 (+13.1%) Shares 47,642 (-2.0%) Est. Cost $156.71 Unrealized +40.1%

MS MORGAN STANLEY 2.2%

Value ($000) $23,636 (+5.3%) Shares 133,139 (-5.7%) Est. Cost $45.94 Unrealized +262.3%

PYPL PAYPAL HLDGS INC 0.5%

Value ($000) $5,886 (-16.1%) Shares 100,818 (-3.6%) Est. Cost $69.45 Unrealized -6.6%

TEL TE CONNECTIVITY PLC 0.9%

Value ($000) $9,157 (-10.9%) Shares 40,249 (-14.0%) Est. Cost $146.50 Unrealized +57.9%

AMGN AMGEN INC 0.8%

Value ($000) $8,834 (+12.5%) Shares 26,990 (-3.0%) Est. Cost $168.73 Unrealized +87.3%

AMTM AMENTUM HOLDINGS INC 0.5%

Value ($000) $5,437 (+19.6%) Shares 187,466 (-1.3%) Est. Cost $26.72 Unrealized -4.3%

JNJ JOHNSON & JOHNSON 0.9%

Value ($000) $9,920 (+8.9%) Shares 47,934 (-2.4%) Est. Cost $107.32 Unrealized +83.6%

WSM WILLIAMS SONOMA INC 0.7%

Value ($000) $7,149 (-10.0%) Shares 40,030 (-1.5%) Est. Cost $106.99 Unrealized +75.0%

ROK ROCKWELL AUTOMATION INC 0.7%

Value ($000) $7,783 (+10.1%) Shares 20,005 (-1.1%) Est. Cost $208.28 Unrealized +80.1%

ASML ASML HOLDING N V 0.9%

Value ($000) $9,798 (-6.7%) Shares 9,158 (-15.6%) Est. Cost $760.87 Unrealized —

GS GOLDMAN SACHS GROUP INC 1.0%

Value ($000) $10,290 (+6.5%) Shares 11,707 (-3.5%) Est. Cost $316.74 Unrealized +156.8%

LLY ELI LILLY & CO 0.2%

Value ($000) $2,505 (+32.1%) Shares 2,331 (-6.2%) Est. Cost $454.56 Unrealized +110.2%

VIG VANGUARD SPECIALIZED FUNDS 0.1%

Value ($000) $788 (-40.5%) Shares 3,585 (-41.6%) Est. Cost $186.46 Unrealized —

RTX RTX CORPORATION 0.9%

Value ($000) $9,366 (+4.5%) Shares 51,067 (-4.7%) Est. Cost $60.98 Unrealized +184.2%

QQQ INVESCO QQQ TR 1.2%

Value ($000) $13,027 (-2.8%) Shares 21,206 (-5.0%) Est. Cost $259.18 Unrealized —

VXF VANGUARD INDEX FDS 0.2%

Value ($000) $2,658 (-12.0%) Shares 12,709 (-12.0%) Est. Cost $117.61 Unrealized —

ABT ABBOTT LABS 0.3%

Value ($000) $3,742 (-8.3%) Shares 29,868 (-2.0%) Est. Cost $76.18 Unrealized +67.1%

MRK MERCK & CO INC 0.1%

Value ($000) $1,597 (+21.4%) Shares 15,176 (-3.2%) Est. Cost $75.22 Unrealized +24.0%

TROW PRICE T ROWE GROUP INC 0.6%

Value ($000) $6,566 (-3.8%) Shares 64,133 (-3.5%) Est. Cost $98.62 Unrealized +3.6%

UPS UNITED PARCEL SERVICE INC 0.2%

Value ($000) $1,676 (-11.9%) Shares 16,898 (-25.8%) Est. Cost $115.30 Unrealized -19.6%

NEE NEXTERA ENERGY INC 0.7%

Value ($000) $7,129 (+3.1%) Shares 88,805 (-3.1%) Est. Cost $66.87 Unrealized +23.4%

NVS NOVARTIS AG 0.3%

Value ($000) $3,625 (+6.0%) Shares 26,293 (-1.4%) Est. Cost $82.04 Unrealized —

XOM EXXON MOBIL CORP 0.3%

Value ($000) $2,875 (-6.5%) Shares 23,887 (-12.4%) Est. Cost $87.66 Unrealized +31.7%

LRCX LAM RESEARCH CORP 0.1%

Value ($000) $879 (+25.4%) Shares 5,136 (-1.9%) Est. Cost $75.15 Unrealized +106.7%

MA MASTERCARD INCORPORATED 1.3%

Value ($000) $13,550 (-1.3%) Shares 23,736 (-1.6%) Est. Cost $306.61 Unrealized +82.3%

KMB KIMBERLY-CLARK CORP 0.1%

Value ($000) $611 (-21.2%) Shares 6,058 (-2.9%) Est. Cost $116.55 Unrealized -7.0%

CAT CATERPILLAR INC 0.2%

Value ($000) $1,707 (+10.1%) Shares 2,980 (-8.3%) Est. Cost $134.92 Unrealized +311.7%

ANET ARISTA NETWORKS INC 0.1%

Value ($000) $1,161 (-11.8%) Shares 8,863 (-2.0%) Est. Cost $102.78 Unrealized +33.9%

CRWD CROWDSTRIKE HLDGS INC 0.1%

Value ($000) $1,517 (-7.3%) Shares 3,237 (-3.0%) Est. Cost $352.96 Unrealized +44.3%

ABBV ABBVIE INC 0.4%

Value ($000) $4,362 (-2.6%) Shares 19,090 (-1.3%) Est. Cost $66.59 Unrealized +241.7%

T AT&T INC 0.0%

Value ($000) $404 (-21.1%) Shares 16,278 (-10.3%) Est. Cost $24.82 Unrealized +1.9%

SYY SYSCO CORP 0.0%

Value ($000) $523 (-16.2%) Shares 7,100 (-6.4%) Est. Cost $50.50 Unrealized +49.5%

IBB ISHARES TR 0.2%

Value ($000) $1,659 (+6.4%) Shares 9,829 (-9.0%) Est. Cost $143.80 Unrealized —

ILMN ILLUMINA INC 0.0%

Value ($000) $405 (+32.2%) Shares 3,090 (-4.3%) Est. Cost $344.22 Unrealized -65.9%

DHI D R HORTON INC 0.0%

Value ($000) $473 (-15.9%) Shares 3,286 (-1.1%) Est. Cost $81.63 Unrealized +86.2%

ADP AUTOMATIC DATA PROCESSING IN 0.0%

Value ($000) $256 (-25.2%) Shares 994 (-14.6%) Est. Cost $228.50 Unrealized +15.9%

IBM INTERNATIONAL BUSINESS MACHS 0.2%

Value ($000) $2,399 (+3.4%) Shares 8,100 (-1.5%) Est. Cost $174.61 Unrealized +71.1%

KLAC KLA CORP 0.1%

Value ($000) $746 (+10.1%) Shares 614 (-2.2%) Est. Cost $419.82 Unrealized +179.1%

IWS ISHARES TR 0.2%

Value ($000) $2,524 (-2.6%) Shares 17,893 (-3.6%) Est. Cost $77.24 Unrealized —

GE GE AEROSPACE 0.1%

Value ($000) $861 (-6.7%) Shares 2,795 (-8.9%) Est. Cost $102.12 Unrealized +194.5%

EFV ISHARES TR 0.4%

Value ($000) $4,267 (+1.5%) Shares 59,752 (-3.6%) Est. Cost $49.69 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.0%

Value ($000) $272 (+28.3%) Shares 1,270 (-3.1%) Est. Cost $161.38 Unrealized +39.2%

XYL XYLEM INC 0.0%

Value ($000) $508 (-10.1%) Shares 3,732 (-2.6%) Est. Cost $54.00 Unrealized +165.9%

JPM JPMORGAN CHASE & CO. 1.9%

Value ($000) $20,852 (-0.3%) Shares 64,715 (-2.4%) Est. Cost $85.62 Unrealized +261.5%

LEN LENNAR CORP 0.0%

Value ($000) $233 (-19.5%) Shares 2,267 (-1.3%) Est. Cost $77.52 Unrealized +55.7%

IEFA ISHARES TR 0.6%

Value ($000) $6,417 (+0.9%) Shares 71,735 (-1.6%) Est. Cost $68.33 Unrealized —

AMAT APPLIED MATLS INC 0.0%

Value ($000) $521 (+11.0%) Shares 2,029 (-11.6%) Est. Cost $112.30 Unrealized +113.3%

AVGO BROADCOM INC 0.1%

Value ($000) $1,377 (+3.1%) Shares 3,979 (-1.7%) Est. Cost $154.48 Unrealized +131.1%

MDLZ MONDELEZ INTL INC 0.0%

Value ($000) $231 (-15.1%) Shares 4,290 (-1.5%) Est. Cost $58.46 Unrealized -2.4%

CWB SPDR SERIES TRUST 0.1%

Value ($000) $890 (-4.1%) Shares 9,975 (-2.7%) Est. Cost $57.93 Unrealized —

CRM SALESFORCE INC 0.0%

Value ($000) $405 (+10.0%) Shares 1,530 (-1.6%) Est. Cost $232.00 Unrealized +7.0%

GLD SPDR GOLD TR 0.1%

Value ($000) $1,052 (+3.5%) Shares 2,654 (-7.2%) Est. Cost $181.22 Unrealized —

EMXC ISHARES INC 0.1%

Value ($000) $673 (+5.4%) Shares 9,259 (-2.1%) Est. Cost $57.89 Unrealized —

MAR MARRIOTT INTL INC NEW 0.0%

Value ($000) $262 (-10.7%) Shares 843 (-25.1%) Est. Cost $236.05 Unrealized +20.9%

LHX L3HARRIS TECHNOLOGIES INC 0.0%

Value ($000) $403 (-6.3%) Shares 1,372 (-2.5%) Est. Cost $188.45 Unrealized +53.1%

VYM VANGUARD WHITEHALL FDS 0.6%

Value ($000) $6,331 (-0.4%) Shares 44,110 (-2.1%) Est. Cost $78.23 Unrealized —

PFE PFIZER INC 0.1%

Value ($000) $647 (-3.4%) Shares 25,988 (-1.1%) Est. Cost $26.15 Unrealized -4.3%

CMCSA COMCAST CORP NEW 0.0%

Value ($000) $313 (-6.7%) Shares 10,474 (-1.9%) Est. Cost $33.24 Unrealized -14.2%

VBR VANGUARD INDEX FDS 0.2%

Value ($000) $2,402 (-0.9%) Shares 11,343 (-2.4%) Est. Cost $132.59 Unrealized —

WY WEYERHAEUSER CO MTN BE 0.0%

Value ($000) $224 (-5.9%) Shares 9,473 (-1.6%) Est. Cost $22.52 Unrealized +2.1%

WMT WALMART INC 0.6%

Value ($000) $6,420 (-0.2%) Shares 57,624 (-7.7%) Est. Cost $55.00 Unrealized +94.9%

A AGILENT TECHNOLOGIES INC 0.0%

Value ($000) $279 (+3.9%) Shares 2,053 (-2.0%) Est. Cost $95.47 Unrealized +50.5%

AMH AMERICAN HOMES 4 RENT 0.0%

Value ($000) $209 (-4.6%) Shares 6,501 (-1.2%) Est. Cost $30.21 Unrealized —

IWF ISHARES TR 0.1%

Value ($000) $866 (-1.1%) Shares 1,830 (-2.1%) Est. Cost $249.22 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.0%

Value ($000) $417 (-2.3%) Shares 7,750 (-1.5%) Est. Cost $44.50 Unrealized —

DE DEERE & CO 0.1%

Value ($000) $1,552 (-0.3%) Shares 3,333 (-2.1%) Est. Cost $236.45 Unrealized +97.8%

KO COCA COLA CO 0.1%

Value ($000) $806 (+0.4%) Shares 11,530 (-4.8%) Est. Cost $43.24 Unrealized +60.5%

DLS WISDOMTREE TR 0.0%

Value ($000) $244 (-0.7%) Shares 3,015 (-2.6%) Est. Cost $63.16 Unrealized —

MMM 3M CO 0.0%

Value ($000) $271 (-0.6%) Shares 1,692 (-3.7%) Est. Cost $86.34 Unrealized +89.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	105,355 (-5.7%)	$32,976 (+21.4%)	3.1%	$108.82	+162.5%	CAP STK CL A	02079K305
J	JACOBS SOLUTIONS INC	76,179 (-17.1%)	$10,091 (-26.7%)	0.9%	$103.23	+41.8%	COM	46982L108
GOOG	ALPHABET INC	57,531 (-4.0%)	$18,053 (+23.7%)	1.7%	$108.41	+164.1%	CAP STK CL C	02079K107
AAPL	APPLE INC	225,706 (-1.8%)	$61,361 (+4.9%)	5.7%	$92.84	+189.0%	COM	037833100
NOC	NORTHROP GRUMMAN CORP	29,570 (-1.1%)	$16,861 (-7.5%)	1.6%	$326.96	+77.0%	COM	666807102
DHR	DANAHER CORPORATION	47,642 (-2.0%)	$10,906 (+13.1%)	1.0%	$156.71	+40.1%	COM	235851102
MS	MORGAN STANLEY	133,139 (-5.7%)	$23,636 (+5.3%)	2.2%	$45.94	+262.3%	COM NEW	617446448
PYPL	PAYPAL HLDGS INC	100,818 (-3.6%)	$5,886 (-16.1%)	0.5%	$69.45	-6.6%	COM	70450Y103
TEL	TE CONNECTIVITY PLC	40,249 (-14.0%)	$9,157 (-10.9%)	0.9%	$146.50	+57.9%	ORD SHS	G87052109
AMGN	AMGEN INC	26,990 (-3.0%)	$8,834 (+12.5%)	0.8%	$168.73	+87.3%	COM	031162100
AMTM	AMENTUM HOLDINGS INC	187,466 (-1.3%)	$5,437 (+19.6%)	0.5%	$26.72	-4.3%	COM	023939101
JNJ	JOHNSON & JOHNSON	47,934 (-2.4%)	$9,920 (+8.9%)	0.9%	$107.32	+83.6%	COM	478160104
WSM	WILLIAMS SONOMA INC	40,030 (-1.5%)	$7,149 (-10.0%)	0.7%	$106.99	+75.0%	COM	969904101
ROK	ROCKWELL AUTOMATION INC	20,005 (-1.1%)	$7,783 (+10.1%)	0.7%	$208.28	+80.1%	COM	773903109
ASML	ASML HOLDING N V	9,158 (-15.6%)	$9,798 (-6.7%)	0.9%	$760.87	—	N Y REGISTRY SHS	N07059210
GS	GOLDMAN SACHS GROUP INC	11,707 (-3.5%)	$10,290 (+6.5%)	1.0%	$316.74	+156.8%	COM	38141G104
LLY	ELI LILLY & CO	2,331 (-6.2%)	$2,505 (+32.1%)	0.2%	$454.56	+110.2%	COM	532457108
VIG	VANGUARD SPECIALIZED FUNDS	3,585 (-41.6%)	$788 (-40.5%)	0.1%	$186.46	—	DIV APP ETF	921908844
RTX	RTX CORPORATION	51,067 (-4.7%)	$9,366 (+4.5%)	0.9%	$60.98	+184.2%	COM	75513E101
QQQ	INVESCO QQQ TR	21,206 (-5.0%)	$13,027 (-2.8%)	1.2%	$259.18	—	UNIT SER 1	46090E103
VXF	VANGUARD INDEX FDS	12,709 (-12.0%)	$2,658 (-12.0%)	0.2%	$117.61	—	EXTEND MKT ETF	922908652
ABT	ABBOTT LABS	29,868 (-2.0%)	$3,742 (-8.3%)	0.3%	$76.18	+67.1%	COM	002824100
MRK	MERCK & CO INC	15,176 (-3.2%)	$1,597 (+21.4%)	0.1%	$75.22	+24.0%	COM	58933Y105
TROW	PRICE T ROWE GROUP INC	64,133 (-3.5%)	$6,566 (-3.8%)	0.6%	$98.62	+3.6%	COM	74144T108
UPS	UNITED PARCEL SERVICE INC	16,898 (-25.8%)	$1,676 (-11.9%)	0.2%	$115.30	-19.6%	CL B	911312106
NEE	NEXTERA ENERGY INC	88,805 (-3.1%)	$7,129 (+3.1%)	0.7%	$66.87	+23.4%	COM	65339F101
NVS	NOVARTIS AG	26,293 (-1.4%)	$3,625 (+6.0%)	0.3%	$82.04	—	SPONSORED ADR	66987V109
XOM	EXXON MOBIL CORP	23,887 (-12.4%)	$2,875 (-6.5%)	0.3%	$87.66	+31.7%	COM	30231G102
LRCX	LAM RESEARCH CORP	5,136 (-1.9%)	$879 (+25.4%)	0.1%	$75.15	+106.7%	COM NEW	512807306
MA	MASTERCARD INCORPORATED	23,736 (-1.6%)	$13,550 (-1.3%)	1.3%	$306.61	+82.3%	CL A	57636Q104
KMB	KIMBERLY-CLARK CORP	6,058 (-2.9%)	$611 (-21.2%)	0.1%	$116.55	-7.0%	COM	494368103
CAT	CATERPILLAR INC	2,980 (-8.3%)	$1,707 (+10.1%)	0.2%	$134.92	+311.7%	COM	149123101
ANET	ARISTA NETWORKS INC	8,863 (-2.0%)	$1,161 (-11.8%)	0.1%	$102.78	+33.9%	COM SHS	040413205
CRWD	CROWDSTRIKE HLDGS INC	3,237 (-3.0%)	$1,517 (-7.3%)	0.1%	$352.96	+44.3%	CL A	22788C105
ABBV	ABBVIE INC	19,090 (-1.3%)	$4,362 (-2.6%)	0.4%	$66.59	+241.7%	COM	00287Y109
T	AT&T INC	16,278 (-10.3%)	$404 (-21.1%)	0.0%	$24.82	+1.9%	COM	00206R102
SYY	SYSCO CORP	7,100 (-6.4%)	$523 (-16.2%)	0.0%	$50.50	+49.5%	COM	871829107
IBB	ISHARES TR	9,829 (-9.0%)	$1,659 (+6.4%)	0.2%	$143.80	—	ISHARES BIOTECH	464287556
ILMN	ILLUMINA INC	3,090 (-4.3%)	$405 (+32.2%)	0.0%	$344.22	-65.9%	COM	452327109
DHI	D R HORTON INC	3,286 (-1.1%)	$473 (-15.9%)	0.0%	$81.63	+86.2%	COM	23331A109
ADP	AUTOMATIC DATA PROCESSING IN	994 (-14.6%)	$256 (-25.2%)	0.0%	$228.50	+15.9%	COM	053015103
IBM	INTERNATIONAL BUSINESS MACHS	8,100 (-1.5%)	$2,399 (+3.4%)	0.2%	$174.61	+71.1%	COM	459200101
KLAC	KLA CORP	614 (-2.2%)	$746 (+10.1%)	0.1%	$419.82	+179.1%	COM NEW	482480100
IWS	ISHARES TR	17,893 (-3.6%)	$2,524 (-2.6%)	0.2%	$77.24	—	RUS MDCP VAL ETF	464287473
GE	GE AEROSPACE	2,795 (-8.9%)	$861 (-6.7%)	0.1%	$102.12	+194.5%	COM NEW	369604301
EFV	ISHARES TR	59,752 (-3.6%)	$4,267 (+1.5%)	0.4%	$49.69	—	EAFE VALUE ETF	464288877
AMD	ADVANCED MICRO DEVICES INC	1,270 (-3.1%)	$272 (+28.3%)	0.0%	$161.38	+39.2%	COM	007903107
XYL	XYLEM INC	3,732 (-2.6%)	$508 (-10.1%)	0.0%	$54.00	+165.9%	COM	98419M100
JPM	JPMORGAN CHASE & CO.	64,715 (-2.4%)	$20,852 (-0.3%)	1.9%	$85.62	+261.5%	COM	46625H100
LEN	LENNAR CORP	2,267 (-1.3%)	$233 (-19.5%)	0.0%	$77.52	+55.7%	CL A	526057104
IEFA	ISHARES TR	71,735 (-1.6%)	$6,417 (+0.9%)	0.6%	$68.33	—	CORE MSCI EAFE	46432F842
AMAT	APPLIED MATLS INC	2,029 (-11.6%)	$521 (+11.0%)	0.0%	$112.30	+113.3%	COM	038222105
AVGO	BROADCOM INC	3,979 (-1.7%)	$1,377 (+3.1%)	0.1%	$154.48	+131.1%	COM	11135F101
MDLZ	MONDELEZ INTL INC	4,290 (-1.5%)	$231 (-15.1%)	0.0%	$58.46	-2.4%	CL A	609207105
CWB	SPDR SERIES TRUST	9,975 (-2.7%)	$890 (-4.1%)	0.1%	$57.93	—	STATE STREET SPD	78464A359
CRM	SALESFORCE INC	1,530 (-1.6%)	$405 (+10.0%)	0.0%	$232.00	+7.0%	COM	79466L302
GLD	SPDR GOLD TR	2,654 (-7.2%)	$1,052 (+3.5%)	0.1%	$181.22	—	GOLD SHS	78463V107
EMXC	ISHARES INC	9,259 (-2.1%)	$673 (+5.4%)	0.1%	$57.89	—	MSCI EMRG CHN	46434G764
MAR	MARRIOTT INTL INC NEW	843 (-25.1%)	$262 (-10.7%)	0.0%	$236.05	+20.9%	CL A	571903202
LHX	L3HARRIS TECHNOLOGIES INC	1,372 (-2.5%)	$403 (-6.3%)	0.0%	$188.45	+53.1%	COM	502431109
VYM	VANGUARD WHITEHALL FDS	44,110 (-2.1%)	$6,331 (-0.4%)	0.6%	$78.23	—	HIGH DIV YLD	921946406
PFE	PFIZER INC	25,988 (-1.1%)	$647 (-3.4%)	0.1%	$26.15	-4.3%	COM	717081103
CMCSA	COMCAST CORP NEW	10,474 (-1.9%)	$313 (-6.7%)	0.0%	$33.24	-14.2%	CL A	20030N101
VBR	VANGUARD INDEX FDS	11,343 (-2.4%)	$2,402 (-0.9%)	0.2%	$132.59	—	SM CP VAL ETF	922908611
WY	WEYERHAEUSER CO MTN BE	9,473 (-1.6%)	$224 (-5.9%)	0.0%	$22.52	+2.1%	COM NEW	962166104
WMT	WALMART INC	57,624 (-7.7%)	$6,420 (-0.2%)	0.6%	$55.00	+94.9%	COM	931142103
A	AGILENT TECHNOLOGIES INC	2,053 (-2.0%)	$279 (+3.9%)	0.0%	$95.47	+50.5%	COM	00846U101
AMH	AMERICAN HOMES 4 RENT	6,501 (-1.2%)	$209 (-4.6%)	0.0%	$30.21	—	CL A	02665T306
IWF	ISHARES TR	1,830 (-2.1%)	$866 (-1.1%)	0.1%	$249.22	—	RUS 1000 GRW ETF	464287614
VWO	VANGUARD INTL EQUITY INDEX F	7,750 (-1.5%)	$417 (-2.3%)	0.0%	$44.50	—	FTSE EMR MKT ETF	922042858
DE	DEERE & CO	3,333 (-2.1%)	$1,552 (-0.3%)	0.1%	$236.45	+97.8%	COM	244199105
KO	COCA COLA CO	11,530 (-4.8%)	$806 (+0.4%)	0.1%	$43.24	+60.5%	COM	191216100
DLS	WISDOMTREE TR	3,015 (-2.6%)	$244 (-0.7%)	0.0%	$63.16	—	INTL SMCAP DIV	97717W760
MMM	3M CO	1,692 (-3.7%)	$271 (-0.6%)	0.0%	$86.34	+89.0%	COM	88579Y101

Unchanged Positions (61)

IQV IQVIA HLDGS INC 0.9%

Value ($000) $9,967 Shares 44,216 Est. Cost $139.38 Unrealized +56.1%

PG PROCTER AND GAMBLE CO 1.5%

Value ($000) $16,236 Shares 113,294 Est. Cost $114.17 Unrealized +28.9%

AMZN AMAZON COM INC 2.0%

Value ($000) $21,887 Shares 94,822 Est. Cost $121.50 Unrealized +88.3%

BMY BRISTOL-MYERS SQUIBB CO 0.6%

Value ($000) $6,258 Shares 116,022 Est. Cost $48.82 Unrealized -2.7%

MSFT MICROSOFT CORP 1.4%

Value ($000) $14,483 Shares 29,947 Est. Cost $113.21 Unrealized +342.2%

CSCO CISCO SYS INC 0.9%

Value ($000) $9,610 Shares 124,758 Est. Cost $29.73 Unrealized +148.2%

QCOM QUALCOMM INC 3.0%

Value ($000) $32,346 Shares 189,103 Est. Cost $67.00 Unrealized +154.9%

VEA VANGUARD TAX-MANAGED FDS 1.8%

Value ($000) $19,740 Shares 315,989 Est. Cost $43.41 Unrealized —

META META PLATFORMS INC 0.7%

Value ($000) $7,413 Shares 11,231 Est. Cost $202.00 Unrealized +230.4%

APD AIR PRODS & CHEMS INC 0.6%

Value ($000) $6,402 Shares 25,915 Est. Cost $236.11 Unrealized +6.6%

HON HONEYWELL INTL INC 0.8%

Value ($000) $8,526 Shares 43,703 Est. Cost $201.30 Unrealized -3.1%

NXPI NXP SEMICONDUCTORS N V 1.0%

Value ($000) $11,095 Shares 51,114 Est. Cost $160.23 Unrealized +33.4%

AVDV AMERICAN CENTY ETF TR 1.1%

Value ($000) $11,879 Shares 126,410 Est. Cost $79.18 Unrealized —

VTI VANGUARD INDEX FDS 3.9%

Value ($000) $41,695 Shares 124,363 Est. Cost $138.42 Unrealized —

TRV TRAVELERS COMPANIES INC 1.4%

Value ($000) $14,980 Shares 51,643 Est. Cost $103.71 Unrealized +170.6%

SMH VANECK ETF TRUST 0.4%

Value ($000) $3,902 Shares 10,834 Est. Cost $278.88 Unrealized —

IVV ISHARES TR 1.3%

Value ($000) $13,652 Shares 19,932 Est. Cost $289.67 Unrealized —

ENB ENBRIDGE INC 0.6%

Value ($000) $6,918 Shares 144,647 Est. Cost $25.69 Unrealized +83.4%

PNC PNC FINL SVCS GROUP INC 0.7%

Value ($000) $7,557 Shares 36,204 Est. Cost $93.39 Unrealized +106.4%

CVX CHEVRON CORP NEW 1.5%

Value ($000) $16,464 Shares 108,026 Est. Cost $96.57 Unrealized +56.8%

LMT LOCKHEED MARTIN CORP 0.6%

Value ($000) $6,829 Shares 14,119 Est. Cost $438.69 Unrealized +8.5%

PLD PROLOGIS INC. 0.2%

Value ($000) $1,969 Shares 15,421 Est. Cost $96.73 Unrealized +28.0%

MU MICRON TECHNOLOGY INC 0.0%

Value ($000) $444 Shares 1,554 Est. Cost $93.22 Unrealized +146.0%

AEP AMERICAN ELEC PWR CO INC 0.7%

Value ($000) $7,012 Shares 60,807 Est. Cost $67.15 Unrealized +75.3%

CBRE CBRE GROUP INC 0.7%

Value ($000) $7,763 Shares 48,279 Est. Cost $42.07 Unrealized +273.8%

SOXX ISHARES TR 0.1%

Value ($000) $1,435 Shares 4,764 Est. Cost $263.31 Unrealized —

WFC WELLS FARGO CO NEW 0.1%

Value ($000) $1,310 Shares 14,056 Est. Cost $42.03 Unrealized +106.1%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.3%

Value ($000) $14,014 Shares 27,881 Est. Cost $191.49 Unrealized +159.8%

REGN REGENERON PHARMACEUTICALS 0.0%

Value ($000) $374 Shares 485 Est. Cost $556.22 Unrealized +22.0%

CWH CAMPING WORLD HLDGS INC 0.0%

Value ($000) $146 Shares 15,000 Est. Cost $20.23 Unrealized -39.4%

PPH VANECK ETF TRUST 0.1%

Value ($000) $646 Shares 6,257 Est. Cost $87.43 Unrealized —

IVE ISHARES TR 0.4%

Value ($000) $3,948 Shares 18,614 Est. Cost $128.48 Unrealized —

BDN BRANDYWINE RLTY TR 0.0%

Value ($000) $144 Shares 49,484 Est. Cost $11.78 Unrealized —

UNP UNION PAC CORP 0.2%

Value ($000) $1,931 Shares 8,350 Est. Cost $119.20 Unrealized +90.7%

CEG CONSTELLATION ENERGY CORP 0.1%

Value ($000) $683 Shares 1,934 Est. Cost $136.67 Unrealized +165.7%

XCEM COLUMBIA ETF TR II 0.1%

Value ($000) $802 Shares 20,905 Est. Cost $28.00 Unrealized —

ALEX ALEXANDER & BALDWIN INC NEW 0.0%

Value ($000) $274 Shares 13,259 Est. Cost $13.75 Unrealized —

MDT MEDTRONIC PLC 0.6%

Value ($000) $6,482 Shares 67,476 Est. Cost $72.98 Unrealized +33.1%

VNQ VANGUARD INDEX FDS 0.1%

Value ($000) $1,274 Shares 14,398 Est. Cost $93.95 Unrealized —

IAU ISHARES GOLD TR 0.0%

Value ($000) $300 Shares 3,700 Est. Cost $50.10 Unrealized —

SPTM SPDR SERIES TRUST 0.1%

Value ($000) $1,473 Shares 17,858 Est. Cost $34.48 Unrealized —

GWW WW GRAINGER INC 0.0%

Value ($000) $404 Shares 400 Est. Cost $553.32 Unrealized +75.1%

SCHW SCHWAB CHARLES CORP 0.0%

Value ($000) $474 Shares 4,745 Est. Cost $56.12 Unrealized +68.8%

PLTR PALANTIR TECHNOLOGIES INC 0.1%

Value ($000) $746 Shares 4,196 Est. Cost $63.46 Unrealized +185.3%

FIBK FIRST INTST BANCSYSTEM INC 0.0%

Value ($000) $227 Shares 6,563 Est. Cost $30.08 Unrealized +6.8%

HYG ISHARES TR 0.1%

Value ($000) $998 Shares 12,373 Est. Cost $85.35 Unrealized —

EFA ISHARES TR 0.0%

Value ($000) $494 Shares 5,148 Est. Cost $62.97 Unrealized —

TSLA TESLA INC 0.2%

Value ($000) $2,529 Shares 5,624 Est. Cost $216.98 Unrealized +104.3%

INTU INTUIT 0.0%

Value ($000) $371 Shares 560 Est. Cost $431.81 Unrealized +53.0%

ECL ECOLAB INC 0.0%

Value ($000) $260 Shares 989 Est. Cost $249.61 Unrealized +6.5%

HUBB HUBBELL INC 0.0%

Value ($000) $310 Shares 699 Est. Cost $121.20 Unrealized +260.7%

EXC EXELON CORP 0.0%

Value ($000) $248 Shares 5,687 Est. Cost $34.91 Unrealized +30.2%

SPDW SPDR INDEX SHS FDS 0.0%

Value ($000) $252 Shares 5,673 Est. Cost $29.82 Unrealized —

SBUX STARBUCKS CORP 0.0%

Value ($000) $476 Shares 5,651 Est. Cost $63.64 Unrealized +32.1%

SCHG SCHWAB STRATEGIC TR 0.0%

Value ($000) $285 Shares 8,747 Est. Cost $25.04 Unrealized —

MCHP MICROCHIP TECHNOLOGY INC. 0.1%

Value ($000) $786 Shares 12,336 Est. Cost $57.52 Unrealized +6.7%

PM PHILIP MORRIS INTL INC 0.0%

Value ($000) $498 Shares 3,104 Est. Cost $112.25 Unrealized +36.8%

LECO LINCOLN ELEC HLDGS INC 0.0%

Value ($000) $319 Shares 1,330 Est. Cost $192.91 Unrealized +22.8%

SRE SEMPRA 0.0%

Value ($000) $218 Shares 2,470 Est. Cost $79.82 Unrealized +13.4%

NVDA NVIDIA CORPORATION 0.7%

Value ($000) $7,153 Shares 38,355 Est. Cost $92.75 Unrealized +100.7%

XLI SELECT SECTOR SPDR TR 0.0%

Value ($000) $251 Shares 1,618 Est. Cost $147.52 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IQV	IQVIA HLDGS INC	44,216	$9,967	0.9%	$139.38	+56.1%	COM	46266C105
PG	PROCTER AND GAMBLE CO	113,294	$16,236	1.5%	$114.17	+28.9%	COM	742718109
AMZN	AMAZON COM INC	94,822	$21,887	2.0%	$121.50	+88.3%	COM	023135106
BMY	BRISTOL-MYERS SQUIBB CO	116,022	$6,258	0.6%	$48.82	-2.7%	COM	110122108
MSFT	MICROSOFT CORP	29,947	$14,483	1.4%	$113.21	+342.2%	COM	594918104
CSCO	CISCO SYS INC	124,758	$9,610	0.9%	$29.73	+148.2%	COM	17275R102
QCOM	QUALCOMM INC	189,103	$32,346	3.0%	$67.00	+154.9%	COM	747525103
VEA	VANGUARD TAX-MANAGED FDS	315,989	$19,740	1.8%	$43.41	—	VAN FTSE DEV MKT	921943858
META	META PLATFORMS INC	11,231	$7,413	0.7%	$202.00	+230.4%	CL A	30303M102
APD	AIR PRODS & CHEMS INC	25,915	$6,402	0.6%	$236.11	+6.6%	COM	009158106
HON	HONEYWELL INTL INC	43,703	$8,526	0.8%	$201.30	-3.1%	COM	438516106
NXPI	NXP SEMICONDUCTORS N V	51,114	$11,095	1.0%	$160.23	+33.4%	COM	N6596X109
AVDV	AMERICAN CENTY ETF TR	126,410	$11,879	1.1%	$79.18	—	INTL SMCP VLU	025072802
VTI	VANGUARD INDEX FDS	124,363	$41,695	3.9%	$138.42	—	TOTAL STK MKT	922908769
TRV	TRAVELERS COMPANIES INC	51,643	$14,980	1.4%	$103.71	+170.6%	COM	89417E109
SMH	VANECK ETF TRUST	10,834	$3,902	0.4%	$278.88	—	SEMICONDUCTR ETF	92189F676
IVV	ISHARES TR	19,932	$13,652	1.3%	$289.67	—	CORE S&P500 ETF	464287200
ENB	ENBRIDGE INC	144,647	$6,918	0.6%	$25.69	+83.4%	COM	29250N105
PNC	PNC FINL SVCS GROUP INC	36,204	$7,557	0.7%	$93.39	+106.4%	COM	693475105
CVX	CHEVRON CORP NEW	108,026	$16,464	1.5%	$96.57	+56.8%	COM	166764100
LMT	LOCKHEED MARTIN CORP	14,119	$6,829	0.6%	$438.69	+8.5%	COM	539830109
PLD	PROLOGIS INC.	15,421	$1,969	0.2%	$96.73	+28.0%	COM	74340W103
MU	MICRON TECHNOLOGY INC	1,554	$444	0.0%	$93.22	+146.0%	COM	595112103
AEP	AMERICAN ELEC PWR CO INC	60,807	$7,012	0.7%	$67.15	+75.3%	COM	025537101
CBRE	CBRE GROUP INC	48,279	$7,763	0.7%	$42.07	+273.8%	CL A	12504L109
SOXX	ISHARES TR	4,764	$1,435	0.1%	$263.31	—	ISHARES SEMICDTR	464287523
WFC	WELLS FARGO CO NEW	14,056	$1,310	0.1%	$42.03	+106.1%	COM	949746101
BRK/B	BERKSHIRE HATHAWAY INC DEL	27,881	$14,014	1.3%	$191.49	+159.8%	CL B NEW	084670702
REGN	REGENERON PHARMACEUTICALS	485	$374	0.0%	$556.22	+22.0%	COM	75886F107
CWH	CAMPING WORLD HLDGS INC	15,000	$146	0.0%	$20.23	-39.4%	CL A	13462K109
PPH	VANECK ETF TRUST	6,257	$646	0.1%	$87.43	—	PHARMACEUTCL ETF	92189F692
IVE	ISHARES TR	18,614	$3,948	0.4%	$128.48	—	S&P 500 VAL ETF	464287408
BDN	BRANDYWINE RLTY TR	49,484	$144	0.0%	$11.78	—	SH BEN INT NEW	105368203
UNP	UNION PAC CORP	8,350	$1,931	0.2%	$119.20	+90.7%	COM	907818108
CEG	CONSTELLATION ENERGY CORP	1,934	$683	0.1%	$136.67	+165.7%	COM	21037T109
XCEM	COLUMBIA ETF TR II	20,905	$802	0.1%	$28.00	—	EM CORE EX ETF	19762B202
ALEX	ALEXANDER & BALDWIN INC NEW	13,259	$274	0.0%	$13.75	—	COM	014491104
MDT	MEDTRONIC PLC	67,476	$6,482	0.6%	$72.98	+33.1%	SHS	G5960L103
VNQ	VANGUARD INDEX FDS	14,398	$1,274	0.1%	$93.95	—	REAL ESTATE ETF	922908553
IAU	ISHARES GOLD TR	3,700	$300	0.0%	$50.10	—	ISHARES NEW	464285204
SPTM	SPDR SERIES TRUST	17,858	$1,473	0.1%	$34.48	—	STATE STREET SPD	78464A805
GWW	WW GRAINGER INC	400	$404	0.0%	$553.32	+75.1%	COM	384802104
SCHW	SCHWAB CHARLES CORP	4,745	$474	0.0%	$56.12	+68.8%	COM	808513105
PLTR	PALANTIR TECHNOLOGIES INC	4,196	$746	0.1%	$63.46	+185.3%	CL A	69608A108
FIBK	FIRST INTST BANCSYSTEM INC	6,563	$227	0.0%	$30.08	+6.8%	COM	32055Y201
HYG	ISHARES TR	12,373	$998	0.1%	$85.35	—	IBOXX HI YD ETF	464288513
EFA	ISHARES TR	5,148	$494	0.0%	$62.97	—	MSCI EAFE ETF	464287465
TSLA	TESLA INC	5,624	$2,529	0.2%	$216.98	+104.3%	COM	88160R101
INTU	INTUIT	560	$371	0.0%	$431.81	+53.0%	COM	461202103
ECL	ECOLAB INC	989	$260	0.0%	$249.61	+6.5%	COM	278865100
HUBB	HUBBELL INC	699	$310	0.0%	$121.20	+260.7%	COM	443510607
EXC	EXELON CORP	5,687	$248	0.0%	$34.91	+30.2%	COM	30161N101
SPDW	SPDR INDEX SHS FDS	5,673	$252	0.0%	$29.82	—	PORTFOLIO DEVLPD	78463X889
SBUX	STARBUCKS CORP	5,651	$476	0.0%	$63.64	+32.1%	COM	855244109
SCHG	SCHWAB STRATEGIC TR	8,747	$285	0.0%	$25.04	—	US LCAP GR ETF	808524300
MCHP	MICROCHIP TECHNOLOGY INC.	12,336	$786	0.1%	$57.52	+6.7%	COM	595017104
PM	PHILIP MORRIS INTL INC	3,104	$498	0.0%	$112.25	+36.8%	COM	718172109
LECO	LINCOLN ELEC HLDGS INC	1,330	$319	0.0%	$192.91	+22.8%	COM	533900106
SRE	SEMPRA	2,470	$218	0.0%	$79.82	+13.4%	COM	816851109
NVDA	NVIDIA CORPORATION	38,355	$7,153	0.7%	$92.75	+100.7%	COM	67066G104
XLI	SELECT SECTOR SPDR TR	1,618	$251	0.0%	$147.52	—	STATE STREET IND	81369Y704