Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TRV	TRAVELERS COMPANIES INC	2,390,090	$789M	1.5%	$330.12	—	COM	89417E109
TEAM	ATLASSIAN CORPORATION	7,658,413	$596M	1.1%	$77.79	—	CL A	049468101
HSY	HERSHEY CO	2,766,786	$485M	0.9%	$175.45	—	COM	427866108
ABBV	ABBVIE INC	1,921,614	$484M	0.9%	$251.64	—	COM	00287Y109
DELL	DELL TECHNOLOGIES INC	1,110,030	$479M	0.9%	$431.46	—	CL C	24703L202
AAPL	APPLE INC	1,286,388	$372M	0.7%	$289.36	—	COM	037833100
META	META PLATFORMS INC	591,397	$333M	0.6%	$563.29	—	CL A	30303M102
MSFT	MICROSOFT CORP	848,548	$317M	0.6%	$373.02	—	COM	594918104
ISRG	INTUITIVE SURGICAL INC	780,428	$310M	0.6%	$397.69	—	COM NEW	46120E602
INFY	INFOSYS LTD	26,999,640	$283M	0.5%	$10.49	—	SPONSORED ADR	456788108
STT	STATE STR CORP	1,106,046	$188M	0.3%	$169.60	—	COM	857477103
BAC	BANK OF AMER CORP	3,166,564	$180M	0.3%	$56.98	—	COM	060505104
MCD	MCDONALDS CORP	601,383	$163M	0.3%	$270.32	—	COM	580135101
NTES	NETEASE COM INC	1,226,473	$157M	0.3%	$128.14	—	SPONSORED ADS	64110W102
AVGO	BROADCOM INC	372,865	$141M	0.3%	$377.75	—	COM	11135F101
FANG	DIAMONDBACK ENERGY INC	587,036	$103M	0.2%	$175.78	—	COM	25278X109
JD	JD.COM INC	2,304,023	$58.71M	0.1%	$25.48	—	SPON ADS CL A	47215P106
IBM	INTERNATIONAL BUSINESS MACHS	30,749	$8.647M	0.0%	$281.21	—	COM	459200101
BBVA	BANCO BILBAO VIZCAYA ARGENTA	330,608	$8.285M	0.0%	$25.06	—	SPONSORED ADR	05946K101
SAP	SAP SE	45,468	$7.007M	0.0%	$154.11	—	SPON ADR	803054204
FDS	FACTSET RESH SYS INC	21,296	$4.9M	0.0%	$230.08	—	COM	303075105
HSBC	HSBC HLDGS PLC	37,717	$3.587M	0.0%	$95.10	—	SPON ADR NEW	404280406
SAN	BANCO SANTANDER SA	259,273	$3.578M	0.0%	$13.80	—	ADR	05964H105
OMC	OMNICOM GROUP INC	45,743	$3.331M	0.0%	$72.83	—	COM	681919106
LYG	LLOYDS BANKING GROUP PLC	341,126	$1.989M	0.0%	$5.83	—	SPONSORED ADR	539439109
WDAY	WORKDAY INC	15,242	$1.866M	0.0%	$122.42	—	CL A	98138H101
ASML	ASML HLDG NV	540	$1.085M	0.0%	$2009.29	—	N Y REGISTRY SHS	N07059210
ADSK	AUTODESK INC	1,180	$229K	0.0%	$194.46	—	COM	052769106
GRAB	GRAB HOLDINGS LIMITED	12,945	$48,803	0.0%	$3.77	—	CLASS A ORD	G4124C109

Increased Positions (24)

XOM EXXON MOBIL CORP 4.3%

Value $2.307B (+104.1%) Shares 16,877,523 (+153.3%) Est. Cost $124.91 Unrealized —

CVS CVS HEALTH CORP 1.5%

Value $823M (+36251.4%) Shares 7,955,411 (+25136.8%) Est. Cost $103.35 Unrealized —

NVDA NVIDIA CORPORATION 1.1%

Value $590M (+113317.1%) Shares 2,949,752 (+98752.3%) Est. Cost $200.01 Unrealized —

PBR PETROLEO BRASILEIRO S A 5.8%

Value $3.122B (-13.2%) Shares 193,198,230 (+11.4%) Est. Cost $14.43 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.8%

Value $414M (+592.8%) Shares 866,910 (+390.3%) Est. Cost $402.43 Unrealized —

AWK AMERICAN WTR WKS CO INC NEW 2.2%

Value $1.171B (+33.9%) Shares 8,903,133 (+38.4%) Est. Cost $135.88 Unrealized —

BP BP PLC 1.0%

Value $522M (+103.5%) Shares 14,138,369 (+158.8%) Est. Cost $40.83 Unrealized —

MO ALTRIA GROUP INC 3.4%

Value $1.807B (+14.9%) Shares 25,111,622 (+5.3%) Est. Cost $53.71 Unrealized —

AMZN AMAZON COM INC 0.3%

Value $137M (+45688.8%) Shares 573,974 (+39926.1%) Est. Cost $238.07 Unrealized —

BUD ANHEUSER BUSCH INBEV SA NV 0.1%

Value $75.67M (+15960.4%) Shares 918,338 (+13420.9%) Est. Cost $82.26 Unrealized —

ATO ATMOS ENERGY CORP 0.4%

Value $202M (+23.5%) Shares 1,175,136 (+32.5%) Est. Cost $160.68 Unrealized —

RNR RENAISSANCERE HLDGS LTD 0.3%

Value $185M (+24.1%) Shares 584,871 (+16.4%) Est. Cost $275.33 Unrealized —

GOOG ALPHABET INC 0.0%

Value $22.57M (+11044.6%) Shares 63,882 (+8948.4%) Est. Cost $351.37 Unrealized —

CMS CMS ENERGY CORP 0.7%

Value $363M (+6.2%) Shares 4,750,161 (+7.7%) Est. Cost $70.33 Unrealized —

E ENI SPA 0.1%

Value $27.69M (+62.6%) Shares 590,882 (+96.5%) Est. Cost $44.47 Unrealized —

ACGL ARCH CAP GROUP LTD 0.3%

Value $167M (+5.5%) Shares 1,717,256 (+4.3%) Est. Cost $92.11 Unrealized —

NGG NATIONAL GRID PLC 0.0%

Value $8.433M (+1585.5%) Shares 101,755 (+1620.6%) Est. Cost $81.97 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.0%

Value $11.04M (+80.8%) Shares 14,777 (+57.5%) Est. Cost $687.74 Unrealized —

GLD SPDR GOLD TR 0.0%

Value $5.02M (+322.2%) Shares 13,626 (+393.2%) Est. Cost $380.93 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.0%

Value $5.547M (+97.3%) Shares 96,264 (+107.6%) Est. Cost $57.53 Unrealized —

TTE TOTALENERGIES SE 0.0%

Value $20.51M (-8.2%) Shares 263,895 (+8.7%) Est. Cost $64.85 Unrealized —

IWB ISHARES TR 0.0%

Value $1.016M (+156.7%) Shares 2,481 (+123.5%) Est. Cost $388.79 Unrealized —

PFE PFIZER INC 0.0%

Value $3.168M (+16.9%) Shares 131,567 (+36.4%) Est. Cost $24.13 Unrealized —

AXIA AXIA ENERGIA SA 0.0%

Value $321K (+1.7%) Shares 30,403 (+8.6%) Est. Cost $8.72 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORP	16,877,523 (+153.3%)	$2.307B (+104.1%)	4.3%	$124.91	—	COM	30231G102
CVS	CVS HEALTH CORP	7,955,411 (+25136.8%)	$823M (+36251.4%)	1.5%	$103.35	—	COM	126650100
NVDA	NVIDIA CORPORATION	2,949,752 (+98752.3%)	$590M (+113317.1%)	1.1%	$200.01	—	COM	67066G104
PBR	PETROLEO BRASILEIRO S A	193,198,230 (+11.4%)	$3.122B (-13.2%)	5.8%	$14.43	—	SPONSORED ADR	71654V408
TSM	TAIWAN SEMICONDUCTOR MANUFAC	866,910 (+390.3%)	$414M (+592.8%)	0.8%	$402.43	—	SPONSORED ADS	874039100
AWK	AMERICAN WTR WKS CO INC NEW	8,903,133 (+38.4%)	$1.171B (+33.9%)	2.2%	$135.88	—	COM	030420103
BP	BP PLC	14,138,369 (+158.8%)	$522M (+103.5%)	1.0%	$40.83	—	SPONSORED ADR	055622104
MO	ALTRIA GROUP INC	25,111,622 (+5.3%)	$1.807B (+14.9%)	3.4%	$53.71	—	COM	02209S103
AMZN	AMAZON COM INC	573,974 (+39926.1%)	$137M (+45688.8%)	0.3%	$238.07	—	COM	023135106
BUD	ANHEUSER BUSCH INBEV SA NV	918,338 (+13420.9%)	$75.67M (+15960.4%)	0.1%	$82.26	—	SPONSORED ADR	03524A108
ATO	ATMOS ENERGY CORP	1,175,136 (+32.5%)	$202M (+23.5%)	0.4%	$160.68	—	COM	049560105
RNR	RENAISSANCERE HLDGS LTD	584,871 (+16.4%)	$185M (+24.1%)	0.3%	$275.33	—	COM	G7496G103
GOOG	ALPHABET INC	63,882 (+8948.4%)	$22.57M (+11044.6%)	0.0%	$351.37	—	CAP STK CL C	02079K107
CMS	CMS ENERGY CORP	4,750,161 (+7.7%)	$363M (+6.2%)	0.7%	$70.33	—	COM	125896100
E	ENI SPA	590,882 (+96.5%)	$27.69M (+62.6%)	0.1%	$44.47	—	SPONSORED ADR	26874R108
ACGL	ARCH CAP GROUP LTD	1,717,256 (+4.3%)	$167M (+5.5%)	0.3%	$92.11	—	ORD	G0450A105
NGG	NATIONAL GRID PLC	101,755 (+1620.6%)	$8.433M (+1585.5%)	0.0%	$81.97	—	SPONSORED ADR NE	636274409
SPY	STATE STR SPDR S&P 500 ETF T	14,777 (+57.5%)	$11.04M (+80.8%)	0.0%	$687.74	—	TR UNIT	78462F103
GLD	SPDR GOLD TR	13,626 (+393.2%)	$5.02M (+322.2%)	0.0%	$380.93	—	GOLD SHS	78463V107
BMY	BRISTOL-MYERS SQUIBB CO	96,264 (+107.6%)	$5.547M (+97.3%)	0.0%	$57.53	—	COM	110122108
TTE	TOTALENERGIES SE	263,895 (+8.7%)	$20.51M (-8.2%)	0.0%	$64.85	—	ACT	F92124100
IWB	ISHARES TR	2,481 (+123.5%)	$1.016M (+156.7%)	0.0%	$388.79	—	RUS 1000 ETF	464287622
PFE	PFIZER INC	131,567 (+36.4%)	$3.168M (+16.9%)	0.0%	$24.13	—	COM	717081103
AXIA	AXIA ENERGIA SA	30,403 (+8.6%)	$321K (+1.7%)	0.0%	$8.72	—	SPONSORED ADR	15234Q207

Exited Positions (8)

OXY OCCIDENTAL PETE CORP 2.2%

Value $1.19B Shares 18,311,639 Est. Cost $45.43 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 1.7%

Value $909M Shares 1,896,646 Est. Cost $497.53 Unrealized —

HDB HDFC BANK LTD 1.6%

Value $848M Shares 34,095,946 Est. Cost $50.62 Unrealized —

CME CME GROUP INC 1.4%

Value $776M Shares 2,625,795 Est. Cost $255.78 Unrealized —

FNV FRANCO NEV CORP 0.5%

Value $288M Shares 1,166,853 Est. Cost $180.58 Unrealized —

VALE VALE S A 0.5%

Value $264M Shares 16,574,442 Est. Cost $10.85 Unrealized —

ASR GRUPO AEROPORTUARIO DEL SURE 0.2%

Value $123M Shares 366,108 Est. Cost $334.98 Unrealized —

VV VANGUARD INDEX FDS 0.0%

Value $253K Shares 846 Est. Cost $286.30 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
OXY	OCCIDENTAL PETE CORP	18,311,639	$1.19B	2.2%	$45.43	—	—	674599105
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,896,646	$909M	1.7%	$497.53	—	—	084670702
HDB	HDFC BANK LTD	34,095,946	$848M	1.6%	$50.62	—	—	40415F101
CME	CME GROUP INC	2,625,795	$776M	1.4%	$255.78	—	—	12572Q105
FNV	FRANCO NEV CORP	1,166,853	$288M	0.5%	$180.58	—	—	351858105
VALE	VALE S A	16,574,442	$264M	0.5%	$10.85	—	—	91912E105
ASR	GRUPO AEROPORTUARIO DEL SURE	366,108	$123M	0.2%	$334.98	—	—	40051E202
VV	VANGUARD INDEX FDS	846	$253K	0.0%	$286.30	—	—	922908637

Decreased Positions (38)

JNJ JOHNSON & JOHNSON 0.0%

Value $6.389M (-99.6%) Shares 25,158 (-99.7%) Est. Cost $175.47 Unrealized —

ENB ENBRIDGE INC 4.9%

Value $2.661B (-35.6%) Shares 49,084,876 (-35.8%) Est. Cost $34.74 Unrealized —

CVX CHEVRON CORPORATION 1.3%

Value $716M (-66.3%) Shares 4,321,814 (-57.9%) Est. Cost $169.18 Unrealized —

T AT&T INC 2.3%

Value $1.223B (-48.1%) Shares 59,099,713 (-27.4%) Est. Cost $20.25 Unrealized —

IBN ICICI BANK LIMITED 1.7%

Value $897M (-55.2%) Shares 30,898,356 (-60.1%) Est. Cost $24.01 Unrealized —

SU SUNCOR ENERGY INC NEW 0.2%

Value $123M (-89.1%) Shares 2,293,204 (-86.7%) Est. Cost $51.81 Unrealized —

KR KROGER CO 0.0%

Value $1.901M (-99.8%) Shares 34,235 (-99.7%) Est. Cost $67.88 Unrealized —

CNQ CANADIAN NAT RES LTD MED TER 0.0%

Value $10.87M (-98.7%) Shares 274,860 (-98.4%) Est. Cost $37.20 Unrealized —

AIG AMERICAN INTL GROUP INC 0.0%

Value $5.471M (-99.3%) Shares 73,409 (-99.3%) Est. Cost $76.35 Unrealized —

VZ VERIZON COMMUNICATIONS INC 2.8%

Value $1.519B (-33.8%) Shares 35,877,241 (-21.5%) Est. Cost $39.63 Unrealized —

AEP AMERICAN ELEC PWR CO INC 2.6%

Value $1.404B (-28.7%) Shares 10,263,074 (-31.7%) Est. Cost $89.47 Unrealized —

DVN DEVON ENERGY CORP NEW 0.7%

Value $403M (-50.5%) Shares 9,742,444 (-39.8%) Est. Cost $40.25 Unrealized —

CVE CENOVUS ENERGY INC 0.8%

Value $412M (-41.9%) Shares 16,592,495 (-38.0%) Est. Cost $19.61 Unrealized —

ITUB ITAU UNIBANCO HLDG S A 0.7%

Value $393M (-42.5%) Shares 48,136,668 (-41.0%) Est. Cost $5.82 Unrealized —

PGR PROGRESSIVE CORP 2.9%

Value $1.539B (-15.1%) Shares 7,043,101 (-22.9%) Est. Cost $229.15 Unrealized —

NEE NEXTERA ENERGY INC 1.2%

Value $651M (-24.3%) Shares 7,420,437 (-19.9%) Est. Cost $67.31 Unrealized —

DUK DUKE ENERGY CORP NEW 1.5%

Value $823M (-19.4%) Shares 6,503,039 (-16.7%) Est. Cost $110.76 Unrealized —

EXC EXELON CORP 1.7%

Value $923M (-15.5%) Shares 19,796,580 (-11.1%) Est. Cost $43.30 Unrealized —

EMBJ EMBRAER S.A. 0.4%

Value $203M (-43.6%) Shares 3,188,244 (-47.5%) Est. Cost $49.01 Unrealized —

PEP PEPSICO INC 0.1%

Value $29.55M (-82.1%) Shares 218,202 (-79.4%) Est. Cost $154.74 Unrealized —

KO COCA COLA CO 2.8%

Value $1.494B (-6.9%) Shares 18,389,277 (-12.9%) Est. Cost $68.25 Unrealized —

BTI BRITISH AMERN TOB PLC 2.8%

Value $1.517B (-6.3%) Shares 24,566,708 (-11.3%) Est. Cost $45.30 Unrealized —

ORI OLD REP INTL CORP 0.1%

Value $72.05M (-48.9%) Shares 1,760,732 (-50.2%) Est. Cost $40.86 Unrealized —

PM PHILIP MORRIS INTL INC 15.3%

Value $8.22B (-0.8%) Shares 45,436,985 (-9.3%) Est. Cost $104.79 Unrealized —

ALL ALLSTATE CORP 2.3%

Value $1.246B (+4.3%) Shares 5,235,375 (-9.1%) Est. Cost $186.96 Unrealized —

TRP TC ENERGY CORP 2.1%

Value $1.108B (+4.7%) Shares 16,736,302 (-1.2%) Est. Cost $53.14 Unrealized —

NVS NOVARTIS AG 0.6%

Value $337M (-9.8%) Shares 2,151,131 (-12.1%) Est. Cost $130.82 Unrealized —

ABEV AMBEV SA 1.1%

Value $581M (+6.4%) Shares 185,072,397 (-1.1%) Est. Cost $2.45 Unrealized —

CNP CENTERPOINT ENERGY INC 0.3%

Value $177M (-13.7%) Shares 4,009,382 (-15.4%) Est. Cost $35.41 Unrealized —

CI THE CIGNA GROUP 3.0%

Value $1.629B (+1.7%) Shares 5,908,707 (-1.6%) Est. Cost $313.95 Unrealized —

CINF CINCINNATI FINL CORP 0.4%

Value $217M (-9.3%) Shares 1,170,338 (-22.9%) Est. Cost $138.13 Unrealized —

UL UNILEVER PLC 1.0%

Value $521M (-2.6%) Shares 8,673,777 (-7.7%) Est. Cost $65.06 Unrealized —

PG PROCTER & GAMBLE CO 0.0%

Value $4.278M (-69.3%) Shares 29,177 (-69.8%) Est. Cost $153.84 Unrealized —

PPL PPL CORP 0.0%

Value $5.328M (-59.7%) Shares 146,588 (-57.6%) Est. Cost $34.05 Unrealized —

SNY SANOFI SA 0.0%

Value $4.165M (-47.5%) Shares 97,640 (-40.7%) Est. Cost $47.73 Unrealized —

ACWI ISHARES TR 0.0%

Value $2.114M (-42.0%) Shares 13,470 (-48.9%) Est. Cost $138.37 Unrealized —

VLO VALERO ENERGY CORP 0.0%

Value $6.924M (-17.4%) Shares 26,587 (-21.6%) Est. Cost $129.37 Unrealized —

V VISA INC 0.0%

Value $219K (-41.3%) Shares 639 (-48.3%) Est. Cost $222.69 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JNJ	JOHNSON & JOHNSON	25,158 (-99.7%)	$6.389M (-99.6%)	0.0%	$175.47	—	COM	478160104
ENB	ENBRIDGE INC	49,084,876 (-35.8%)	$2.661B (-35.6%)	4.9%	$34.74	—	COM	29250N105
CVX	CHEVRON CORPORATION	4,321,814 (-57.9%)	$716M (-66.3%)	1.3%	$169.18	—	COM	166764100
T	AT&T INC	59,099,713 (-27.4%)	$1.223B (-48.1%)	2.3%	$20.25	—	COM	00206R102
IBN	ICICI BANK LIMITED	30,898,356 (-60.1%)	$897M (-55.2%)	1.7%	$24.01	—	ADR	45104G104
SU	SUNCOR ENERGY INC NEW	2,293,204 (-86.7%)	$123M (-89.1%)	0.2%	$51.81	—	COM	867224107
KR	KROGER CO	34,235 (-99.7%)	$1.901M (-99.8%)	0.0%	$67.88	—	COM	501044101
CNQ	CANADIAN NAT RES LTD MED TER	274,860 (-98.4%)	$10.87M (-98.7%)	0.0%	$37.20	—	COM	136385101
AIG	AMERICAN INTL GROUP INC	73,409 (-99.3%)	$5.471M (-99.3%)	0.0%	$76.35	—	COM NEW	026874784
VZ	VERIZON COMMUNICATIONS INC	35,877,241 (-21.5%)	$1.519B (-33.8%)	2.8%	$39.63	—	COM	92343V104
AEP	AMERICAN ELEC PWR CO INC	10,263,074 (-31.7%)	$1.404B (-28.7%)	2.6%	$89.47	—	COM	025537101
DVN	DEVON ENERGY CORP NEW	9,742,444 (-39.8%)	$403M (-50.5%)	0.7%	$40.25	—	COM	25179M103
CVE	CENOVUS ENERGY INC	16,592,495 (-38.0%)	$412M (-41.9%)	0.8%	$19.61	—	COM	15135U109
ITUB	ITAU UNIBANCO HLDG S A	48,136,668 (-41.0%)	$393M (-42.5%)	0.7%	$5.82	—	SPON ADR REP PFD	465562106
PGR	PROGRESSIVE CORP	7,043,101 (-22.9%)	$1.539B (-15.1%)	2.9%	$229.15	—	COM	743315103
NEE	NEXTERA ENERGY INC	7,420,437 (-19.9%)	$651M (-24.3%)	1.2%	$67.31	—	COM	65339F101
DUK	DUKE ENERGY CORP NEW	6,503,039 (-16.7%)	$823M (-19.4%)	1.5%	$110.76	—	COM NEW	26441C204
EXC	EXELON CORP	19,796,580 (-11.1%)	$923M (-15.5%)	1.7%	$43.30	—	COM	30161N101
EMBJ	EMBRAER S.A.	3,188,244 (-47.5%)	$203M (-43.6%)	0.4%	$49.01	—	SPONSORED ADS	29082A107
PEP	PEPSICO INC	218,202 (-79.4%)	$29.55M (-82.1%)	0.1%	$154.74	—	COM	713448108
KO	COCA COLA CO	18,389,277 (-12.9%)	$1.494B (-6.9%)	2.8%	$68.25	—	COM	191216100
BTI	BRITISH AMERN TOB PLC	24,566,708 (-11.3%)	$1.517B (-6.3%)	2.8%	$45.30	—	SPONSORED ADR	110448107
ORI	OLD REP INTL CORP	1,760,732 (-50.2%)	$72.05M (-48.9%)	0.1%	$40.86	—	COM	680223104
PM	PHILIP MORRIS INTL INC	45,436,985 (-9.3%)	$8.22B (-0.8%)	15.3%	$104.79	—	COM	718172109
ALL	ALLSTATE CORP	5,235,375 (-9.1%)	$1.246B (+4.3%)	2.3%	$186.96	—	COM	020002101
TRP	TC ENERGY CORP	16,736,302 (-1.2%)	$1.108B (+4.7%)	2.1%	$53.14	—	COM	87807B107
NVS	NOVARTIS AG	2,151,131 (-12.1%)	$337M (-9.8%)	0.6%	$130.82	—	SPONSORED ADR	66987V109
ABEV	AMBEV SA	185,072,397 (-1.1%)	$581M (+6.4%)	1.1%	$2.45	—	SPONSORED ADR	02319V103
CNP	CENTERPOINT ENERGY INC	4,009,382 (-15.4%)	$177M (-13.7%)	0.3%	$35.41	—	COM	15189T107
CI	THE CIGNA GROUP	5,908,707 (-1.6%)	$1.629B (+1.7%)	3.0%	$313.95	—	COM	125523100
CINF	CINCINNATI FINL CORP	1,170,338 (-22.9%)	$217M (-9.3%)	0.4%	$138.13	—	COM	172062101
UL	UNILEVER PLC	8,673,777 (-7.7%)	$521M (-2.6%)	1.0%	$65.06	—	SPON ADR NEW	904767803
PG	PROCTER & GAMBLE CO	29,177 (-69.8%)	$4.278M (-69.3%)	0.0%	$153.84	—	COM	742718109
PPL	PPL CORP	146,588 (-57.6%)	$5.328M (-59.7%)	0.0%	$34.05	—	COM	69351T106
SNY	SANOFI SA	97,640 (-40.7%)	$4.165M (-47.5%)	0.0%	$47.73	—	SPONSORED ADR	80105N105
ACWI	ISHARES TR	13,470 (-48.9%)	$2.114M (-42.0%)	0.0%	$138.37	—	MSCI ACWI ETF	464288257
VLO	VALERO ENERGY CORP	26,587 (-21.6%)	$6.924M (-17.4%)	0.0%	$129.37	—	COM	91913Y100
V	VISA INC	639 (-48.3%)	$219K (-41.3%)	0.0%	$222.69	—	COM CL A	92826C839

Unchanged Positions (11)

CB CHUBB LIMITED 7.9%

Value $4.25B Shares 12,473,178 Est. Cost $277.72 Unrealized —

BAP CREDICORP LTD 0.1%

Value $28.44M Shares 72,991 Est. Cost $192.69 Unrealized —

XEL XCEL ENERGY INC 1.7%

Value $892M Shares 11,104,441 Est. Cost $67.97 Unrealized —

MRK MERCK & CO INC 0.0%

Value $6.822M Shares 53,092 Est. Cost $108.05 Unrealized —

AZN ASTRAZENECA PLC 0.0%

Value $8.542M Shares 45,569 Est. Cost $190.39 Unrealized —

APP APPLOVIN CORP 0.0%

Value $954K Shares 1,852 Est. Cost $26.91 Unrealized —

RY ROYAL BK CDA 0.0%

Value $633K Shares 3,059 Est. Cost $114.81 Unrealized —

SHEL SHELL PLC 0.0%

Value $465K Shares 6,001 Est. Cost $73.28 Unrealized —

WMT WALMART INC 0.0%

Value $611K Shares 5,394 Est. Cost $61.94 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.0%

Value $301K Shares 298 Est. Cost $544.86 Unrealized —

SO SOUTHERN CO 0.0%

Value $5.147M Shares 53,777 Est. Cost $75.34 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CB	CHUBB LIMITED	12,473,178	$4.25B	7.9%	$277.72	—	COM	H1467J104
BAP	CREDICORP LTD	72,991	$28.44M	0.1%	$192.69	—	COM	G2519Y108
XEL	XCEL ENERGY INC	11,104,441	$892M	1.7%	$67.97	—	COM	98389B100
MRK	MERCK & CO INC	53,092	$6.822M	0.0%	$108.05	—	COM	58933Y105
AZN	ASTRAZENECA PLC	45,569	$8.542M	0.0%	$190.39	—	ORD	G0593M107
APP	APPLOVIN CORP	1,852	$954K	0.0%	$26.91	—	COM CL A	03831W108
RY	ROYAL BK CDA	3,059	$633K	0.0%	$114.81	—	COM	780087102
SHEL	SHELL PLC	6,001	$465K	0.0%	$73.28	—	SPON ADS	780259305
WMT	WALMART INC	5,394	$611K	0.0%	$61.94	—	COM	931142103
GS	GOLDMAN SACHS GROUP INC	298	$301K	0.0%	$544.86	—	COM	38141G104
SO	SOUTHERN CO	53,777	$5.147M	0.0%	$75.34	—	COM	842587107