Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KEYS	KEYSIGHT TECHNOLOGIES INC	3,953	$1.384M	0.4%	$350.07	—	COM	49338L103
STLD	STEEL DYNAMICS INC	2,965	$680K	0.2%	$229.46	—	COM	858119100
WST	WEST PHARMACEUTICAL SVSC INC	1,810	$650K	0.2%	$359.00	—	COM	955306105
LRCX	LAM RESEARCH CORP	940	$407K	0.1%	$433.40	—	COM NEW	512807306
ETR	ENTERGY CORP NEW	2,166	$249K	0.1%	$114.85	—	COM	29364G103

Increased Positions (26)

BILZ PIMCO ETF TR 8.3%

Value $26.61M (+43.7%) Shares 263,637 (+43.7%) Est. Cost $100.94 Unrealized —

BIL SPDR SERIES TRUST 3.4%

Value $10.94M (+92.0%) Shares 119,366 (+92.0%) Est. Cost $91.70 Unrealized —

XLV SELECT SECTOR SPDR TR 9.0%

Value $28.81M (+12.4%) Shares 181,609 (+3.9%) Est. Cost $106.33 Unrealized —

XLY SELECT SECTOR SPDR TR 7.3%

Value $23.42M (+10.7%) Shares 199,665 (+2.9%) Est. Cost $119.47 Unrealized —

USRT ISHARES TR 4.7%

Value $15.05M (+13.9%) Shares 226,548 (+1.5%) Est. Cost $53.41 Unrealized —

XLB SELECT SECTOR SPDR TR 4.3%

Value $13.91M (+10.2%) Shares 273,577 (+8.4%) Est. Cost $52.10 Unrealized —

IEF ISHARES TR 0.9%

Value $2.965M (+58.8%) Shares 31,350 (+60.3%) Est. Cost $105.61 Unrealized —

XLP SELECT SECTOR SPDR TR 5.2%

Value $16.73M (+5.0%) Shares 201,408 (+3.6%) Est. Cost $63.92 Unrealized —

GOOGL ALPHABET INC 0.3%

Value $986K (+57.8%) Shares 2,758 (+27.0%) Est. Cost $155.98 Unrealized —

SMMU PIMCO ETF TR 6.7%

Value $21.44M (+1.5%) Shares 424,580 (+1.4%) Est. Cost $49.68 Unrealized —

ETN EATON CORP PLC 0.5%

Value $1.563M (+20.9%) Shares 3,667 (+1.4%) Est. Cost $127.39 Unrealized —

XLU SELECT SECTOR SPDR TR 4.4%

Value $13.97M (+1.7%) Shares 308,174 (+2.9%) Est. Cost $50.74 Unrealized —

VRTX VERTEX PHARMACEUTICALS INC 0.3%

Value $987K (+29.6%) Shares 1,986 (+16.5%) Est. Cost $471.68 Unrealized —

PG PROCTER & GAMBLE CO 0.3%

Value $1.075M (+15.1%) Shares 7,329 (+13.3%) Est. Cost $144.40 Unrealized —

PSA PUBLIC STORAGE 0.2%

Value $723K (+22.8%) Shares 2,271 (+4.5%) Est. Cost $264.10 Unrealized —

XYL XYLEM INC 0.2%

Value $790K (+19.6%) Shares 6,681 (+20.9%) Est. Cost $122.76 Unrealized —

ECL ECOLAB INC 0.2%

Value $570K (+25.3%) Shares 2,045 (+19.7%) Est. Cost $248.72 Unrealized —

LLY ELI LILLY & CO 0.1%

Value $410K (+36.2%) Shares 341 (+4.3%) Est. Cost $818.52 Unrealized —

EME EMCOR GROUP INC 0.1%

Value $330K (+39.1%) Shares 397 (+23.7%) Est. Cost $746.49 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.2%

Value $795K (+12.1%) Shares 1,585 (+9.9%) Est. Cost $373.11 Unrealized —

NFLX NETFLIX INC. 0.1%

Value $317K (-18.6%) Shares 4,443 (+9.7%) Est. Cost $96.70 Unrealized —

SPG SIMON PPTY GROUP INC NEW 0.1%

Value $274K (+25.7%) Shares 1,223 (+4.9%) Est. Cost $171.89 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.1%

Value $302K (+21.4%) Shares 405 (+5.7%) Est. Cost $572.43 Unrealized —

WY WEYERHAEUSER CO 0.2%

Value $641K (+7.4%) Shares 26,793 (+9.6%) Est. Cost $27.18 Unrealized —

COST COSTCO WHOLESALE CORPORATION 0.3%

Value $1.041M (-3.7%) Shares 1,113 (+2.6%) Est. Cost $371.51 Unrealized —

XLC SELECT SECTOR SPDR TR 2.9%

Value $9.433M (+0.1%) Shares 88,050 (+3.6%) Est. Cost $55.79 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BILZ	PIMCO ETF TR	263,637 (+43.7%)	$26.61M (+43.7%)	8.3%	$100.94	—	ULTR SH GO AC FD	72201R577
BIL	SPDR SERIES TRUST	119,366 (+92.0%)	$10.94M (+92.0%)	3.4%	$91.70	—	ST STR BLO 1 ETF	78468R663
XLV	SELECT SECTOR SPDR TR	181,609 (+3.9%)	$28.81M (+12.4%)	9.0%	$106.33	—	ST STR CARE ETF	81369Y209
XLY	SELECT SECTOR SPDR TR	199,665 (+2.9%)	$23.42M (+10.7%)	7.3%	$119.47	—	ST STR DISCR ETF	81369Y407
USRT	ISHARES TR	226,548 (+1.5%)	$15.05M (+13.9%)	4.7%	$53.41	—	CRE U S REIT ETF	464288521
XLB	SELECT SECTOR SPDR TR	273,577 (+8.4%)	$13.91M (+10.2%)	4.3%	$52.10	—	ST STR MATER ETF	81369Y100
IEF	ISHARES TR	31,350 (+60.3%)	$2.965M (+58.8%)	0.9%	$105.61	—	7-10 YR TRSY BD	464287440
XLP	SELECT SECTOR SPDR TR	201,408 (+3.6%)	$16.73M (+5.0%)	5.2%	$63.92	—	ST STR STAPL ETF	81369Y308
GOOGL	ALPHABET INC	2,758 (+27.0%)	$986K (+57.8%)	0.3%	$155.98	—	CAP STK CL A	02079K305
SMMU	PIMCO ETF TR	424,580 (+1.4%)	$21.44M (+1.5%)	6.7%	$49.68	—	SHTRM MUN BD ACT	72201R874
ETN	EATON CORP PLC	3,667 (+1.4%)	$1.563M (+20.9%)	0.5%	$127.39	—	SHS	G29183103
XLU	SELECT SECTOR SPDR TR	308,174 (+2.9%)	$13.97M (+1.7%)	4.4%	$50.74	—	ST STR UTIL ETF	81369Y886
VRTX	VERTEX PHARMACEUTICALS INC	1,986 (+16.5%)	$987K (+29.6%)	0.3%	$471.68	—	COM	92532F100
PG	PROCTER & GAMBLE CO	7,329 (+13.3%)	$1.075M (+15.1%)	0.3%	$144.40	—	COM	742718109
PSA	PUBLIC STORAGE	2,271 (+4.5%)	$723K (+22.8%)	0.2%	$264.10	—	COM	74460D109
XYL	XYLEM INC	6,681 (+20.9%)	$790K (+19.6%)	0.2%	$122.76	—	COM	98419M100
ECL	ECOLAB INC	2,045 (+19.7%)	$570K (+25.3%)	0.2%	$248.72	—	COM	278865100
LLY	ELI LILLY & CO	341 (+4.3%)	$410K (+36.2%)	0.1%	$818.52	—	COM	532457108
EME	EMCOR GROUP INC	397 (+23.7%)	$330K (+39.1%)	0.1%	$746.49	—	COM	29084Q100
TMO	THERMO FISHER SCIENTIFIC INC	1,585 (+9.9%)	$795K (+12.1%)	0.2%	$373.11	—	COM	883556102
NFLX	NETFLIX INC.	4,443 (+9.7%)	$317K (-18.6%)	0.1%	$96.70	—	COM	64110L106
SPG	SIMON PPTY GROUP INC NEW	1,223 (+4.9%)	$274K (+25.7%)	0.1%	$171.89	—	COM	828806109
SPY	STATE STR SPDR S&P 500 ETF T	405 (+5.7%)	$302K (+21.4%)	0.1%	$572.43	—	TR UNIT	78462F103
WY	WEYERHAEUSER CO	26,793 (+9.6%)	$641K (+7.4%)	0.2%	$27.18	—	COM NEW	962166104
COST	COSTCO WHOLESALE CORPORATION	1,113 (+2.6%)	$1.041M (-3.7%)	0.3%	$371.51	—	COM	22160K105
XLC	SELECT SECTOR SPDR TR	88,050 (+3.6%)	$9.433M (+0.1%)	2.9%	$55.79	—	ST STR SVC ETF	81369Y852

Exited Positions (7)

MU MICRON TECHNOLOGY INC 0.4%

Value $1.334M Shares 3,949 Est. Cost $53.81 Unrealized —

ALB ALBEMARLE CORP 0.3%

Value $828K Shares 4,614 Est. Cost $128.41 Unrealized —

MDT MEDTRONIC PLC 0.2%

Value $552K Shares 6,370 Est. Cost $95.41 Unrealized —

HCA HCA HEALTHCARE INC 0.1%

Value $330K Shares 697 Est. Cost $142.11 Unrealized —

META META PLATFORMS INC 0.1%

Value $283K Shares 494 Est. Cost $499.82 Unrealized —

FCX FREEPORT MCMORAN INC 0.1%

Value $257K Shares 4,370 Est. Cost $30.35 Unrealized —

EXC EXELON CORP 0.1%

Value $236K Shares 4,815 Est. Cost $40.50 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	3,949	$1.334M	0.4%	$53.81	—	—	595112103
ALB	ALBEMARLE CORP	4,614	$828K	0.3%	$128.41	—	—	012653101
MDT	MEDTRONIC PLC	6,370	$552K	0.2%	$95.41	—	—	G5960L103
HCA	HCA HEALTHCARE INC	697	$330K	0.1%	$142.11	—	—	40412C101
META	META PLATFORMS INC	494	$283K	0.1%	$499.82	—	—	30303M102
FCX	FREEPORT MCMORAN INC	4,370	$257K	0.1%	$30.35	—	—	35671D857
EXC	EXELON CORP	4,815	$236K	0.1%	$40.50	—	—	30161N101

Decreased Positions (17)

XLK SELECT SECTOR SPDR TR 12.4%

Value $39.77M (+36.9%) Shares 208,740 (-4.5%) Est. Cost $111.39 Unrealized —

XLE SELECT SECTOR SPDR TR 3.0%

Value $9.517M (-16.4%) Shares 179,193 (-3.5%) Est. Cost $44.36 Unrealized —

GLD SPDR GOLD TR 2.4%

Value $7.564M (-17.1%) Shares 20,532 (-3.1%) Est. Cost $148.72 Unrealized —

DDOG DATADOG INC 0.4%

Value $1.215M (+103.5%) Shares 4,666 (-7.7%) Est. Cost $136.99 Unrealized —

VGSH VANGUARD SCOTTSDALE FDS 2.5%

Value $8.099M (-3.0%) Shares 139,151 (-2.4%) Est. Cost $57.88 Unrealized —

NVDA NVIDIA CORPORATION 0.7%

Value $2.193M (+11.7%) Shares 10,962 (-2.6%) Est. Cost $92.02 Unrealized —

GOOG ALPHABET INC 0.4%

Value $1.189M (+18.6%) Shares 3,364 (-3.7%) Est. Cost $134.41 Unrealized —

CSX CSX CORP 0.5%

Value $1.515M (+13.4%) Shares 31,872 (-2.0%) Est. Cost $30.54 Unrealized —

MUNI PIMCO ETF TR 0.1%

Value $452K (-27.4%) Shares 8,599 (-27.9%) Est. Cost $54.73 Unrealized —

AAPL APPLE INC 0.5%

Value $1.693M (+9.7%) Shares 5,851 (-3.8%) Est. Cost $123.91 Unrealized —

TSLA TESLA INC 0.3%

Value $1.107M (+9.8%) Shares 2,633 (-2.9%) Est. Cost $210.99 Unrealized —

SHY ISHARES TR 0.1%

Value $450K (-15.7%) Shares 5,484 (-15.2%) Est. Cost $84.04 Unrealized —

PSX PHILLIPS 66 0.2%

Value $646K (-10.7%) Shares 3,820 (-3.8%) Est. Cost $137.03 Unrealized —

RL RALPH LAUREN CORP 0.3%

Value $850K (+6.1%) Shares 2,117 (-9.0%) Est. Cost $168.53 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.1%

Value $334K (+11.8%) Shares 1,188 (-3.6%) Est. Cost $168.59 Unrealized —

JNJ JOHNSON & JOHNSON 0.3%

Value $876K (+1.7%) Shares 3,450 (-2.2%) Est. Cost $141.38 Unrealized —

VLO VALERO ENERGY CORP 0.3%

Value $929K (-0.3%) Shares 3,569 (-5.4%) Est. Cost $147.81 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XLK	SELECT SECTOR SPDR TR	208,740 (-4.5%)	$39.77M (+36.9%)	12.4%	$111.39	—	ST STR TECHN ETF	81369Y803
XLE	SELECT SECTOR SPDR TR	179,193 (-3.5%)	$9.517M (-16.4%)	3.0%	$44.36	—	ST STR ENERG ETF	81369Y506
GLD	SPDR GOLD TR	20,532 (-3.1%)	$7.564M (-17.1%)	2.4%	$148.72	—	GOLD SHS	78463V107
DDOG	DATADOG INC	4,666 (-7.7%)	$1.215M (+103.5%)	0.4%	$136.99	—	CL A COM	23804L103
VGSH	VANGUARD SCOTTSDALE FDS	139,151 (-2.4%)	$8.099M (-3.0%)	2.5%	$57.88	—	SHORT TERM TREAS	92206C102
NVDA	NVIDIA CORPORATION	10,962 (-2.6%)	$2.193M (+11.7%)	0.7%	$92.02	—	COM	67066G104
GOOG	ALPHABET INC	3,364 (-3.7%)	$1.189M (+18.6%)	0.4%	$134.41	—	CAP STK CL C	02079K107
CSX	CSX CORP	31,872 (-2.0%)	$1.515M (+13.4%)	0.5%	$30.54	—	COM	126408103
MUNI	PIMCO ETF TR	8,599 (-27.9%)	$452K (-27.4%)	0.1%	$54.73	—	INTER MUN BD ACT	72201R866
AAPL	APPLE INC	5,851 (-3.8%)	$1.693M (+9.7%)	0.5%	$123.91	—	COM	037833100
TSLA	TESLA INC	2,633 (-2.9%)	$1.107M (+9.8%)	0.3%	$210.99	—	COM	88160R101
SHY	ISHARES TR	5,484 (-15.2%)	$450K (-15.7%)	0.1%	$84.04	—	1 3 YR TREAS BD	464287457
PSX	PHILLIPS 66	3,820 (-3.8%)	$646K (-10.7%)	0.2%	$137.03	—	COM	718546104
RL	RALPH LAUREN CORP	2,117 (-9.0%)	$850K (+6.1%)	0.3%	$168.53	—	CL A	751212101
IBM	INTERNATIONAL BUSINESS MACHS	1,188 (-3.6%)	$334K (+11.8%)	0.1%	$168.59	—	COM	459200101
JNJ	JOHNSON & JOHNSON	3,450 (-2.2%)	$876K (+1.7%)	0.3%	$141.38	—	COM	478160104
VLO	VALERO ENERGY CORP	3,569 (-5.4%)	$929K (-0.3%)	0.3%	$147.81	—	COM	91913Y100

Unchanged Positions (10)

XLI SELECT SECTOR SPDR TR 12.4%

Value $39.62M Shares 213,900 Est. Cost $79.20 Unrealized —

AMZN AMAZON COM INC 0.4%

Value $1.196M Shares 5,017 Est. Cost $126.04 Unrealized —

AME AMETEK INC 0.4%

Value $1.133M Shares 4,681 Est. Cost $85.11 Unrealized —

XOM EXXON MOBIL CORP 0.2%

Value $486K Shares 3,556 Est. Cost $43.31 Unrealized —

T AT&T INC 0.1%

Value $228K Shares 11,020 Est. Cost $13.90 Unrealized —

AFL AFLAC INC 0.2%

Value $687K Shares 5,856 Est. Cost $38.01 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value $376K Shares 751 Est. Cost $317.03 Unrealized —

WM WASTE MGMT INC DEL 0.1%

Value $201K Shares 900 Est. Cost $226.07 Unrealized —

MSFT MICROSOFT CORP 0.1%

Value $302K Shares 809 Est. Cost $249.46 Unrealized —

SO SOUTHERN CO 0.1%

Value $307K Shares 3,205 Est. Cost $54.72 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XLI	SELECT SECTOR SPDR TR	213,900	$39.62M	12.4%	$79.20	—	ST STR INDL ETF	81369Y704
AMZN	AMAZON COM INC	5,017	$1.196M	0.4%	$126.04	—	COM	023135106
AME	AMETEK INC	4,681	$1.133M	0.4%	$85.11	—	COM	031100100
XOM	EXXON MOBIL CORP	3,556	$486K	0.2%	$43.31	—	COM	30231G102
T	AT&T INC	11,020	$228K	0.1%	$13.90	—	COM	00206R102
AFL	AFLAC INC	5,856	$687K	0.2%	$38.01	—	COM	001055102
BRK/B	BERKSHIRE HATHAWAY INC DEL	751	$376K	0.1%	$317.03	—	CL B NEW	084670702
WM	WASTE MGMT INC DEL	900	$201K	0.1%	$226.07	—	COM	94106L109
MSFT	MICROSOFT CORP	809	$302K	0.1%	$249.46	—	COM	594918104
SO	SOUTHERN CO	3,205	$307K	0.1%	$54.72	—	COM	842587107