Te Ahumairangi Investment Management Ltd Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOG	ALPHABET INC	10,110 (+106.3%)	$3,173 (+165.8%)	0.6%	$223.27	+28.2%	CAP STK CL A	02079K107
VZ	VERIZON COMMUNICATIONS INC	868,862 (+2.4%)	$35,389 (-5.1%)	6.3%	$39.80	+1.7%	COM	92343V104
NVDA	NVIDIA CORPORATION	49,206 (+24.7%)	$9,177 (+24.7%)	1.6%	$140.70	+32.3%	COM	67066G104
T	AT&T INC	441,342 (+1.1%)	$10,963 (-11.1%)	2.0%	$16.89	+49.7%	COM	00206R102
NFLX	NETFLIX INC	42,129 (+1751.0%)	$3,950 (+44.8%)	0.7%	$106.99	+0.8%	COM	64110L106
MSFT	MICROSOFT CORP	102,509 (+5.0%)	$49,575 (-2.0%)	8.9%	$287.01	+74.4%	COM	594918104
AMZN	AMAZON COM INC	34,774 (+6.6%)	$8,027 (+12.0%)	1.4%	$170.44	+34.2%	COM	023135106
ORCL	ORACLE CORP	12,833 (+8.8%)	$2,501 (-24.6%)	0.4%	$78.81	+202.1%	COM	68389X105
DIS	DISNEY WALT CO	53,632 (+14.3%)	$6,102 (+13.6%)	1.1%	$106.29	+3.0%	COM	254687106
MDT	MEDTRONIC PLC	68,883 (+11.3%)	$6,617 (+12.3%)	1.2%	$88.42	+9.9%	SHS	G5960L103
LH	LABCORP HOLDINGS INC	22,807 (+2.1%)	$5,722 (-10.7%)	1.0%	$218.74	+21.2%	COM SHS	504922105
HPQ	HP INC	162,097 (+3.0%)	$3,612 (-15.7%)	0.6%	$21.16	+19.3%	COM	40434L105
VRSN	VERISIGN INC	51,896 (+9.5%)	$12,608 (-4.8%)	2.3%	$204.97	+22.4%	COM	92343E102
DUK	DUKE ENERGY CORP NEW	28,659 (+29.4%)	$3,359 (+22.6%)	0.6%	$92.50	+31.4%	COM NEW	26441C204
CHKP	CHECK POINT SOFTWARE TECH LT	61,616 (+6.3%)	$11,433 (-4.7%)	2.0%	$141.55	+36.6%	ORD	M22465104
ADBE	ADOBE INC	13,150 (+10.1%)	$4,602 (+9.3%)	0.8%	$373.82	-9.0%	COM	00724F101
PG	PROCTER & GAMBLE CO	54,027 (+2.2%)	$7,743 (-4.7%)	1.4%	$127.42	+15.5%	COM	742718109
ARW	ARROW ELECTRS INC	34,068 (+1.3%)	$3,754 (-7.8%)	0.7%	$114.36	-0.7%	COM	042735100
PSA	PUBLIC STORAGE OPER CO	18,606 (+4.8%)	$4,828 (-5.8%)	0.9%	$222.56	+24.6%	COM	74460D109
EXC	EXELON CORP	116,518 (+8.9%)	$5,079 (+5.5%)	0.9%	$32.95	+38.0%	COM	30161N101
UBER	UBER TECHNOLOGIES INC	34,134 (+10.3%)	$2,789 (-8.0%)	0.5%	$77.02	+16.9%	COM	90353T100
GIS	GENERAL MLS INC	77,164 (+3.6%)	$3,588 (-4.5%)	0.6%	$64.24	-26.1%	COM	370334104
DVA	DAVITA INC	78,973 (+15.3%)	$8,972 (-1.4%)	1.6%	$117.55	+3.4%	COM	23918K108
CCI	CROWN CASTLE INC	57,225 (+11.0%)	$5,086 (+2.2%)	0.9%	$97.88	-6.9%	COM	22822V101
GDDY	GODADDY INC	24,859 (+7.1%)	$3,085 (-2.9%)	0.6%	$153.90	-15.9%	CL A	380237107
MRSH	MARSH & MCLENNAN COS INC	24,687 (+6.8%)	$4,580 (-1.6%)	0.8%	$169.41	+10.0%	COM	571748102
CVX	CHEVRON CORP NEW	18,116 (+2.4%)	$2,761 (+0.5%)	0.5%	$141.91	+6.7%	COM	166764100

Exited Positions (2)

WMT WALMART INC 0.7%

Value ($000) $3,648 Shares 35,395 Est. Cost $51.65 Unrealized +107.6%

MFG MIZUHO FINANCIAL GROUP INC 0.0%

Value ($000) $201 Shares 30,000 Est. Cost $0.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WMT	WALMART INC	35,395	$3,648	0.7%	$51.65	+107.6%	—	931142103
MFG	MIZUHO FINANCIAL GROUP INC	30,000	$201	0.0%	$0.01	—	—	60687Y109

Decreased Positions (50)

AAPL APPLE INC 5.2%

Value ($000) $28,856 (-9.2%) Shares 106,144 (-15.0%) Est. Cost $142.07 Unrealized +88.9%

META META PLATFORMS INC 2.0%

Value ($000) $11,045 (-20.7%) Shares 16,733 (-11.8%) Est. Cost $342.02 Unrealized +95.1%

TD TORONTO DOMINION BK ONT 0.5%

Value ($000) $2,948 (-35.9%) Shares 31,239 (-45.7%) Est. Cost $53.45 Unrealized +58.0%

AVGO BROADCOM INC 1.0%

Value ($000) $5,318 (-23.5%) Shares 15,366 (-27.1%) Est. Cost $149.92 Unrealized +138.1%

EG EVEREST GROUP LTD 2.8%

Value ($000) $15,359 (-8.5%) Shares 45,260 (-5.6%) Est. Cost $262.18 Unrealized +26.0%

C CITIGROUP INC 1.7%

Value ($000) $9,266 (-13.2%) Shares 79,408 (-24.5%) Est. Cost $46.48 Unrealized +123.0%

DGX QUEST DIAGNOSTICS INC 1.1%

Value ($000) $5,993 (-18.2%) Shares 34,536 (-10.2%) Est. Cost $114.84 Unrealized +58.5%

GWW GRAINGER W W INC 1.6%

Value ($000) $9,126 (-12.5%) Shares 9,044 (-17.4%) Est. Cost $518.55 Unrealized +86.9%

PFE PFIZER INC 0.9%

Value ($000) $5,249 (-19.5%) Shares 210,789 (-17.6%) Est. Cost $29.87 Unrealized -16.2%

KR KROGER CO 1.6%

Value ($000) $9,013 (-11.1%) Shares 144,252 (-4.1%) Est. Cost $40.26 Unrealized +62.0%

IBM INTERNATIONAL BUSINESS MACHS 0.9%

Value ($000) $4,799 (-18.5%) Shares 16,203 (-22.4%) Est. Cost $121.28 Unrealized +146.4%

NEM NEWMONT CORP 1.4%

Value ($000) $7,922 (+15.3%) Shares 79,337 (-2.6%) Est. Cost $49.49 Unrealized +82.2%

CVS CVS HEALTH CORP 0.8%

Value ($000) $4,226 (-19.0%) Shares 53,256 (-23.1%) Est. Cost $62.81 Unrealized +25.3%

STLA STELLANTIS N.V 1.0%

Value ($000) $5,726 (-14.4%) Shares 515,543 (-28.8%) Est. Cost $6.83 Unrealized —

JNJ JOHNSON & JOHNSON 1.5%

Value ($000) $8,434 (-9.6%) Shares 40,754 (-19.0%) Est. Cost $138.26 Unrealized +42.5%

GM GENERAL MTRS CO 0.9%

Value ($000) $5,239 (-13.5%) Shares 64,422 (-35.1%) Est. Cost $35.65 Unrealized +97.5%

QCOM QUALCOMM INC 0.5%

Value ($000) $2,881 (-22.0%) Shares 16,842 (-24.2%) Est. Cost $140.16 Unrealized +21.9%

SJM SMUCKER J M CO 0.5%

Value ($000) $2,530 (-24.2%) Shares 25,870 (-15.8%) Est. Cost $104.00 Unrealized -1.1%

JBL JABIL INC 0.7%

Value ($000) $3,842 (-17.3%) Shares 16,848 (-21.2%) Est. Cost $123.97 Unrealized +72.0%

HCA HCA HEALTHCARE INC 0.9%

Value ($000) $5,057 (-13.0%) Shares 10,832 (-20.6%) Est. Cost $139.86 Unrealized +231.6%

KHC KRAFT HEINZ CO 0.8%

Value ($000) $4,391 (-13.9%) Shares 181,078 (-7.6%) Est. Cost $31.67 Unrealized -22.2%

ABBV ABBVIE INC 0.8%

Value ($000) $4,654 (-11.3%) Shares 20,368 (-10.1%) Est. Cost $117.48 Unrealized +93.7%

V VISA INC 1.9%

Value ($000) $10,392 (-4.9%) Shares 29,630 (-7.4%) Est. Cost $220.82 Unrealized +54.1%

MCK MCKESSON CORP 0.9%

Value ($000) $5,014 (-9.4%) Shares 6,112 (-14.6%) Est. Cost $287.31 Unrealized +183.9%

GOOGL ALPHABET INC 5.2%

Value ($000) $29,021 (+1.7%) Shares 92,720 (-21.0%) Est. Cost $145.51 Unrealized +96.3%

LLY ELI LILLY & CO 0.5%

Value ($000) $2,794 (+17.4%) Shares 2,600 (-16.7%) Est. Cost $742.24 Unrealized +28.7%

ED CONSOLIDATED EDISON INC 1.4%

Value ($000) $7,630 (-5.1%) Shares 76,821 (-4.0%) Est. Cost $81.43 Unrealized +21.3%

WPM WHEATON PRECIOUS METALS CORP 0.7%

Value ($000) $4,138 (-8.0%) Shares 35,152 (-12.5%) Est. Cost $44.18 Unrealized +142.4%

RY ROYAL BK CDA 0.7%

Value ($000) $4,099 (+9.0%) Shares 24,010 (-5.9%) Est. Cost $99.57 Unrealized +54.2%

AEM AGNICO EAGLE MINES LTD 0.9%

Value ($000) $4,744 (-6.4%) Shares 27,940 (-7.1%) Est. Cost $49.36 Unrealized +240.1%

CI THE CIGNA GROUP 0.8%

Value ($000) $4,678 (-6.3%) Shares 16,998 (-1.9%) Est. Cost $205.69 Unrealized +35.8%

GILD GILEAD SCIENCES INC 1.1%

Value ($000) $6,380 (-4.5%) Shares 51,976 (-13.6%) Est. Cost $66.83 Unrealized +80.9%

UNH UNITEDHEALTH GROUP INC 0.4%

Value ($000) $2,226 (-11.7%) Shares 6,742 (-7.7%) Est. Cost $466.79 Unrealized -27.8%

CAH CARDINAL HEALTH INC 0.9%

Value ($000) $4,955 (-5.6%) Shares 24,114 (-27.9%) Est. Cost $60.17 Unrealized +212.0%

UPS UNITED PARCEL SERVICE INC 0.4%

Value ($000) $2,211 (+14.1%) Shares 22,286 (-3.9%) Est. Cost $127.78 Unrealized -27.4%

ELV ELEVANCE HEALTH INC FORMERLY 0.9%

Value ($000) $5,242 (-4.6%) Shares 14,954 (-12.1%) Est. Cost $440.01 Unrealized -23.5%

ABNB AIRBNB INC 0.5%

Value ($000) $3,005 (+9.0%) Shares 22,139 (-2.5%) Est. Cost $129.58 Unrealized -3.9%

MRK MERCK & CO INC 1.6%

Value ($000) $8,655 (-2.7%) Shares 82,226 (-22.4%) Est. Cost $75.33 Unrealized +23.8%

MUFG MITSUBISHI UFJ FINL GROUP IN 0.1%

Value ($000) $356 (-35.2%) Shares 22,454 (-34.8%) Est. Cost $1.69 Unrealized —

DECK DECKERS OUTDOOR CORP 0.5%

Value ($000) $2,697 (-5.2%) Shares 26,011 (-7.3%) Est. Cost $144.50 Unrealized -35.1%

TRV TRAVELERS COMPANIES INC 1.5%

Value ($000) $8,327 (+1.6%) Shares 28,707 (-2.2%) Est. Cost $144.34 Unrealized +94.4%

ROIV ROIVANT SCIENCES LTD 0.4%

Value ($000) $2,352 (-4.7%) Shares 108,407 (-33.6%) Est. Cost $10.24 Unrealized +92.7%

SMFG SUMITOMO MITSUI FINL GROUP I 0.0%

Value ($000) $81 (-56.0%) Shares 4,216 (-61.9%) Est. Cost $5.25 Unrealized —

CSCO CISCO SYS INC 2.1%

Value ($000) $11,594 (-0.7%) Shares 150,517 (-11.8%) Est. Cost $42.83 Unrealized +72.3%

VRTX VERTEX PHARMACEUTICALS INC 0.4%

Value ($000) $2,328 (+3.8%) Shares 5,135 (-10.3%) Est. Cost $238.18 Unrealized +81.0%

RIO RIO TINTO PLC 0.2%

Value ($000) $1,210 (+4.9%) Shares 15,122 (-13.5%) Est. Cost $60.85 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.8%

Value ($000) $4,186 (+1.0%) Shares 77,605 (-15.6%) Est. Cost $51.35 Unrealized -7.4%

KGC KINROSS GOLD CORP 0.7%

Value ($000) $4,109 (+0.6%) Shares 145,700 (-11.4%) Est. Cost $7.75 Unrealized +235.1%

ACN ACCENTURE PLC IRELAND 0.5%

Value ($000) $2,555 (-0.6%) Shares 9,524 (-8.6%) Est. Cost $256.81 Unrealized -1.1%

REGN REGENERON PHARMACEUTICALS 0.6%

Value ($000) $3,511 (-0.2%) Shares 4,549 (-27.3%) Est. Cost $585.81 Unrealized +15.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AAPL	APPLE INC	106,144 (-15.0%)	$28,856 (-9.2%)	5.2%	$142.07	+88.9%	COM	037833100
META	META PLATFORMS INC	16,733 (-11.8%)	$11,045 (-20.7%)	2.0%	$342.02	+95.1%	CL A	30303M102
TD	TORONTO DOMINION BK ONT	31,239 (-45.7%)	$2,948 (-35.9%)	0.5%	$53.45	+58.0%	COM NEW	891160509
AVGO	BROADCOM INC	15,366 (-27.1%)	$5,318 (-23.5%)	1.0%	$149.92	+138.1%	COM	11135F101
EG	EVEREST GROUP LTD	45,260 (-5.6%)	$15,359 (-8.5%)	2.8%	$262.18	+26.0%	COM	G3223R108
C	CITIGROUP INC	79,408 (-24.5%)	$9,266 (-13.2%)	1.7%	$46.48	+123.0%	COM NEW	172967424
DGX	QUEST DIAGNOSTICS INC	34,536 (-10.2%)	$5,993 (-18.2%)	1.1%	$114.84	+58.5%	COM	74834L100
GWW	GRAINGER W W INC	9,044 (-17.4%)	$9,126 (-12.5%)	1.6%	$518.55	+86.9%	COM	384802104
PFE	PFIZER INC	210,789 (-17.6%)	$5,249 (-19.5%)	0.9%	$29.87	-16.2%	COM	717081103
KR	KROGER CO	144,252 (-4.1%)	$9,013 (-11.1%)	1.6%	$40.26	+62.0%	COM	501044101
IBM	INTERNATIONAL BUSINESS MACHS	16,203 (-22.4%)	$4,799 (-18.5%)	0.9%	$121.28	+146.4%	COM	459200101
NEM	NEWMONT CORP	79,337 (-2.6%)	$7,922 (+15.3%)	1.4%	$49.49	+82.2%	COM	651639106
CVS	CVS HEALTH CORP	53,256 (-23.1%)	$4,226 (-19.0%)	0.8%	$62.81	+25.3%	COM	126650100
STLA	STELLANTIS N.V	515,543 (-28.8%)	$5,726 (-14.4%)	1.0%	$6.83	—	SHS	N82405106
JNJ	JOHNSON & JOHNSON	40,754 (-19.0%)	$8,434 (-9.6%)	1.5%	$138.26	+42.5%	COM	478160104
GM	GENERAL MTRS CO	64,422 (-35.1%)	$5,239 (-13.5%)	0.9%	$35.65	+97.5%	COM	37045V100
QCOM	QUALCOMM INC	16,842 (-24.2%)	$2,881 (-22.0%)	0.5%	$140.16	+21.9%	COM	747525103
SJM	SMUCKER J M CO	25,870 (-15.8%)	$2,530 (-24.2%)	0.5%	$104.00	-1.1%	COM NEW	832696405
JBL	JABIL INC	16,848 (-21.2%)	$3,842 (-17.3%)	0.7%	$123.97	+72.0%	COM	466313103
HCA	HCA HEALTHCARE INC	10,832 (-20.6%)	$5,057 (-13.0%)	0.9%	$139.86	+231.6%	COM	40412C101
KHC	KRAFT HEINZ CO	181,078 (-7.6%)	$4,391 (-13.9%)	0.8%	$31.67	-22.2%	COM	500754106
ABBV	ABBVIE INC	20,368 (-10.1%)	$4,654 (-11.3%)	0.8%	$117.48	+93.7%	COM	00287Y109
V	VISA INC	29,630 (-7.4%)	$10,392 (-4.9%)	1.9%	$220.82	+54.1%	COM CL A	92826C839
MCK	MCKESSON CORP	6,112 (-14.6%)	$5,014 (-9.4%)	0.9%	$287.31	+183.9%	COM	58155Q103
GOOGL	ALPHABET INC	92,720 (-21.0%)	$29,021 (+1.7%)	5.2%	$145.51	+96.3%	CAP STK CL A	02079K305
LLY	ELI LILLY & CO	2,600 (-16.7%)	$2,794 (+17.4%)	0.5%	$742.24	+28.7%	COM	532457108
ED	CONSOLIDATED EDISON INC	76,821 (-4.0%)	$7,630 (-5.1%)	1.4%	$81.43	+21.3%	COM	209115104
WPM	WHEATON PRECIOUS METALS CORP	35,152 (-12.5%)	$4,138 (-8.0%)	0.7%	$44.18	+142.4%	COM	962879102
RY	ROYAL BK CDA	24,010 (-5.9%)	$4,099 (+9.0%)	0.7%	$99.57	+54.2%	COM	780087102
AEM	AGNICO EAGLE MINES LTD	27,940 (-7.1%)	$4,744 (-6.4%)	0.9%	$49.36	+240.1%	COM	008474108
CI	THE CIGNA GROUP	16,998 (-1.9%)	$4,678 (-6.3%)	0.8%	$205.69	+35.8%	COM	125523100
GILD	GILEAD SCIENCES INC	51,976 (-13.6%)	$6,380 (-4.5%)	1.1%	$66.83	+80.9%	COM	375558103
UNH	UNITEDHEALTH GROUP INC	6,742 (-7.7%)	$2,226 (-11.7%)	0.4%	$466.79	-27.8%	COM	91324P102
CAH	CARDINAL HEALTH INC	24,114 (-27.9%)	$4,955 (-5.6%)	0.9%	$60.17	+212.0%	COM	14149Y108
UPS	UNITED PARCEL SERVICE INC	22,286 (-3.9%)	$2,211 (+14.1%)	0.4%	$127.78	-27.4%	CL B	911312106
ELV	ELEVANCE HEALTH INC FORMERLY	14,954 (-12.1%)	$5,242 (-4.6%)	0.9%	$440.01	-23.5%	COM	036752103
ABNB	AIRBNB INC	22,139 (-2.5%)	$3,005 (+9.0%)	0.5%	$129.58	-3.9%	COM CL A	009066101
MRK	MERCK & CO INC	82,226 (-22.4%)	$8,655 (-2.7%)	1.6%	$75.33	+23.8%	COM	58933Y105
MUFG	MITSUBISHI UFJ FINL GROUP IN	22,454 (-34.8%)	$356 (-35.2%)	0.1%	$1.69	—	SPONSORED ADS	606822104
DECK	DECKERS OUTDOOR CORP	26,011 (-7.3%)	$2,697 (-5.2%)	0.5%	$144.50	-35.1%	COM	243537107
TRV	TRAVELERS COMPANIES INC	28,707 (-2.2%)	$8,327 (+1.6%)	1.5%	$144.34	+94.4%	COM	89417E109
ROIV	ROIVANT SCIENCES LTD	108,407 (-33.6%)	$2,352 (-4.7%)	0.4%	$10.24	+92.7%	SHS	G76279101
SMFG	SUMITOMO MITSUI FINL GROUP I	4,216 (-61.9%)	$81 (-56.0%)	0.0%	$5.25	—	SPONSORED ADR	86562M209
CSCO	CISCO SYS INC	150,517 (-11.8%)	$11,594 (-0.7%)	2.1%	$42.83	+72.3%	COM	17275R102
VRTX	VERTEX PHARMACEUTICALS INC	5,135 (-10.3%)	$2,328 (+3.8%)	0.4%	$238.18	+81.0%	COM	92532F100
RIO	RIO TINTO PLC	15,122 (-13.5%)	$1,210 (+4.9%)	0.2%	$60.85	—	SPONSORED ADR	767204100
BMY	BRISTOL-MYERS SQUIBB CO	77,605 (-15.6%)	$4,186 (+1.0%)	0.8%	$51.35	-7.4%	COM	110122108
KGC	KINROSS GOLD CORP	145,700 (-11.4%)	$4,109 (+0.6%)	0.7%	$7.75	+235.1%	COM	496902404
ACN	ACCENTURE PLC IRELAND	9,524 (-8.6%)	$2,555 (-0.6%)	0.5%	$256.81	-1.1%	CL A	G1151C101
REGN	REGENERON PHARMACEUTICALS	4,549 (-27.3%)	$3,511 (-0.2%)	0.6%	$585.81	+15.9%	COM	75886F107

Unchanged Positions (5)

WPC WP CAREY INC 0.9%

Value ($000) $5,104 Shares 79,297 Est. Cost $42.01 Unrealized —

XOM EXXON MOBIL CORP 0.6%

Value ($000) $3,169 Shares 26,331 Est. Cost $60.82 Unrealized +89.9%

CL COLGATE PALMOLIVE CO 1.0%

Value ($000) $5,478 Shares 69,320 Est. Cost $76.61 Unrealized +2.2%

WST WEST PHARMACEUTICAL SVSC INC 0.1%

Value ($000) $647 Shares 2,350 Est. Cost $274.80 Unrealized -0.5%

SBRA SABRA HEALTH CARE REIT INC 0.4%

Value ($000) $2,457 Shares 129,715 Est. Cost $8.63 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WPC	WP CAREY INC	79,297	$5,104	0.9%	$42.01	—	COM	92936U109
XOM	EXXON MOBIL CORP	26,331	$3,169	0.6%	$60.82	+89.9%	COM	30231G102
CL	COLGATE PALMOLIVE CO	69,320	$5,478	1.0%	$76.61	+2.2%	COM	194162103
WST	WEST PHARMACEUTICAL SVSC INC	2,350	$647	0.1%	$274.80	-0.5%	COM	955306105
SBRA	SABRA HEALTH CARE REIT INC	129,715	$2,457	0.4%	$8.63	—	COM	78573L106