Auto-Owners Insurance Co Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPDW	SPDR INDEX SHS FDS	19,637,666 (+28.9%)	$872,109 (+33.8%)	18.3%	$39.52	—	PORTFOLIO DEVLPD	78463X889
ITOT	ISHARES TR	3,595,344 (+18.4%)	$534,592 (+20.8%)	11.2%	$104.97	—	CORE S&P TTL STK	464287150
GOOG	ALPHABET INC	573,092 (+22.7%)	$179,836 (+58.1%)	3.8%	$140.38	+104.0%	CAP STK CL C	02079K107
EFV	ISHARES TR	4,588,000 (+15.8%)	$327,629 (+21.9%)	6.9%	$60.92	—	EAFE VALUE ETF	464288877
IUSV	ISHARES TR	1,354,000 (+56.7%)	$138,961 (+61.3%)	2.9%	$91.41	—	CORE S&P US VLU	464287663
XNTK	SPDR SERIES TRUST	1,456,600 (+11.4%)	$404,760 (+13.7%)	8.5%	$122.04	—	NYSE TECH ETF	78464A102
FNDF	SCHWAB STRATEGIC TR	3,640,000 (+34.7%)	$164,655 (+41.8%)	3.5%	$40.45	—	FUNDAMENTAL INTL	808524755
VYM	VANGUARD WHITEHALL FDS	1,035,700 (+43.0%)	$148,644 (+45.6%)	3.1%	$130.39	—	HIGH DIV YLD	921946406
SPYD	SPDR SERIES TRUST	2,740,000 (+33.7%)	$118,848 (+33.0%)	2.5%	$42.15	—	PRTFLO S&P500 HI	78468R788
GE	GE AEROSPACE	213,360 (+69.9%)	$65,721 (+74.0%)	1.4%	$218.55	+37.6%	COM NEW	369604301
VWO	VANGUARD INTL EQUITY INDEX F	1,794,716 (+36.9%)	$96,484 (+35.9%)	2.0%	$46.07	—	FTSE EMR MKT ETF	922042858
IDEV	ISHARES TR	2,598,000 (+7.7%)	$214,335 (+10.8%)	4.5%	$72.61	—	CORE MSCI INTL	46435G326
AMZN	AMAZON COM INC	426,518 (+19.0%)	$98,449 (+25.1%)	2.1%	$133.75	+71.1%	COM	023135106
SPMD	SPDR SERIES TRUST	1,330,000 (+27.9%)	$77,034 (+29.5%)	1.6%	$53.09	—	PORTFOLIO S&P400	78464A847
GEV	GE VERNOVA INC	53,335 (+69.9%)	$34,858 (+80.6%)	0.7%	$459.18	+32.6%	COM	36828A101
DD	DUPONT DE NEMOURS INC	436,627 (+8.9%)	$17,552 (-43.8%)	0.4%	$27.18	+37.5%	COM	26614N102
DGRO	ISHARES TR	689,500 (+34.0%)	$47,865 (+36.7%)	1.0%	$61.67	—	CORE DIV GRWTH	46434V621
JNJ	JOHNSON & JOHNSON	335,440 (+7.9%)	$69,419 (+20.4%)	1.5%	$158.91	+24.0%	COM	478160104
CSCO	CISCO SYS INC	674,444 (+14.5%)	$51,952 (+28.9%)	1.1%	$47.09	+56.7%	COM	17275R102
VEA	VANGUARD TAX-MANAGED FDS	1,178,750 (+12.7%)	$73,637 (+17.5%)	1.5%	$55.17	—	VAN FTSE DEV MKT	921943858
DVYE	ISHARES INC	820,000 (+64.0%)	$25,551 (+72.1%)	0.5%	$37.92	—	EM MKTS DIV ETF	464286319
VB	VANGUARD INDEX FDS	281,628 (+13.1%)	$72,646 (+14.7%)	1.5%	$76.19	—	SMALL CP ETF	922908751
BRK/A	BERKSHIRE HATHAWAY INC DEL	167 (+7.1%)	$126,052 (+7.1%)	2.6%	$726154.25	+2.8%	CL A	084670108
GEHC	GE HEALTHCARE TECHNOLOGIES I	414,321 (+17.4%)	$33,983 (+28.2%)	0.7%	$71.12	+9.6%	COMMON STOCK	36266G107
BDX	BECTON DICKINSON & CO	209,775 (+15.0%)	$40,711 (+19.3%)	0.9%	$184.48	+2.8%	COM	075887109
XLRE	SELECT SECTOR SPDR TR	766,565 (+31.3%)	$30,927 (+25.6%)	0.6%	$35.31	—	RL EST SEL SEC	81369Y860
MMM	3M CO	90,890 (+54.6%)	$14,551 (+59.5%)	0.3%	$117.82	+38.5%	COM	88579Y101
VTI	VANGUARD INDEX FDS	36,600 (+74.3%)	$12,271 (+78.1%)	0.3%	$174.85	—	TOTAL STK MKT	922908769
VCR	VANGUARD WORLD FD	92,700 (+14.9%)	$36,720 (+15.1%)	0.8%	$300.92	—	CONSUM DIS ETF	92204A108
MSFT	MICROSOFT CORP	124,305 (+16.3%)	$60,116 (+8.6%)	1.3%	$416.74	+20.1%	COM	594918104
META	META PLATFORMS INC	159,512 (+16.2%)	$105,292 (+4.4%)	2.2%	$549.83	+21.4%	CL A	30303M102
HMC	HONDA MOTOR LTD	291,150 (+73.1%)	$8,583 (+65.7%)	0.2%	$28.01	—	ADR ECH CNV IN 3	438128308
RTX	RTX CORPORATION	55,087 (+35.4%)	$10,103 (+48.4%)	0.2%	$116.31	+49.0%	COM	75513E101
PEP	PEPSICO INC	343,178 (+4.2%)	$49,253 (+6.5%)	1.0%	$157.29	-7.2%	COM	713448108
KHC	KRAFT HEINZ CO	679,464 (+29.2%)	$16,477 (+20.4%)	0.3%	$27.48	-10.4%	COM	500754106
KO	COCA COLA CO	68,400 (+56.5%)	$4,782 (+65.0%)	0.1%	$69.06	+0.5%	COM	191216100
INTC	INTEL CORP	88,908 (+65.2%)	$3,281 (+81.7%)	0.1%	$30.20	+25.0%	COM	458140100
MSM	MSC INDL DIRECT INC	38,700 (+46.0%)	$3,255 (+33.3%)	0.1%	$81.56	+6.3%	CL A	553530106
WDAY	WORKDAY INC	47,633 (+18.8%)	$10,231 (+6.0%)	0.2%	$205.45	+10.6%	CL A	98138H101
CVS	CVS HEALTH CORP	5,811 (+2.7%)	$461 (+8.1%)	0.0%	$79.17	-0.6%	COM	126650100

Exited Positions (2)

KOF COCA-COLA FEMSA SAB DE CV 0.4%

Value ($000) $20,800 Shares 250,300 Est. Cost $96.19 Unrealized —

— KELLANOVA 0.1%

Value ($000) $2,715 Shares 33,100 Est. Cost $76.66 Unrealized +7.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KOF	COCA-COLA FEMSA SAB DE CV	250,300	$20,800	0.4%	$96.19	—	—	191241108
—	KELLANOVA	33,100	$2,715	0.1%	$76.66	+7.8%	—	487836108

Unchanged Positions (64)

FMC FMC CORP 0.1%

Value ($000) $6,242 Shares 450,000 Est. Cost $53.55 Unrealized -64.6%

PII POLARIS INC 1.4%

Value ($000) $65,464 Shares 1,035,000 Est. Cost $37.93 Unrealized +73.6%

BAX BAXTER INTL INC 0.4%

Value ($000) $20,066 Shares 1,050,000 Est. Cost $30.21 Unrealized -33.8%

USB US BANCORP DEL 0.7%

Value ($000) $33,350 Shares 625,000 Est. Cost $40.42 Unrealized +20.6%

AMSF AMERISAFE INC 0.3%

Value ($000) $16,397 Shares 426,900 Est. Cost $41.95 Unrealized -6.4%

ORCL ORACLE CORP 0.1%

Value ($000) $2,826 Shares 14,500 Est. Cost $157.03 Unrealized +51.6%

CCL CARNIVAL CORP 0.4%

Value ($000) $19,851 Shares 650,000 Est. Cost $11.49 Unrealized +142.7%

TFC TRUIST FINL CORP 0.3%

Value ($000) $14,172 Shares 288,000 Est. Cost $37.53 Unrealized +22.1%

EPD ENTERPRISE PRODS PARTNERS L 0.7%

Value ($000) $32,060 Shares 1,000,000 Est. Cost $27.91 Unrealized —

AVB AVALONBAY CMNTYS INC 0.2%

Value ($000) $11,785 Shares 65,000 Est. Cost $191.60 Unrealized -6.2%

DOW DOW INC 0.8%

Value ($000) $37,665 Shares 1,611,000 Est. Cost $27.83 Unrealized -18.2%

AMAT APPLIED MATLS INC 0.1%

Value ($000) $3,370 Shares 13,114 Est. Cost $93.28 Unrealized +156.8%

TD TORONTO DOMINION BK ONT 0.1%

Value ($000) $3,965 Shares 42,096 Est. Cost $65.25 Unrealized +29.4%

ENB ENBRIDGE INC 0.2%

Value ($000) $8,567 Shares 179,110 Est. Cost $43.51 Unrealized +8.3%

IEMG ISHARES INC 0.5%

Value ($000) $24,199 Shares 360,000 Est. Cost $50.77 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.1%

Value ($000) $2,428 Shares 4,190 Est. Cost $539.56 Unrealized +4.7%

NVS NOVARTIS AG 0.1%

Value ($000) $4,628 Shares 33,570 Est. Cost $116.72 Unrealized —

CHRW C H ROBINSON WORLDWIDE INC 0.0%

Value ($000) $1,511 Shares 9,400 Est. Cost $90.89 Unrealized +62.1%

PG PROCTER AND GAMBLE CO 0.1%

Value ($000) $3,550 Shares 24,769 Est. Cost $149.38 Unrealized -1.5%

AAPL APPLE INC 0.1%

Value ($000) $4,028 Shares 14,818 Est. Cost $140.70 Unrealized +90.7%

WBD WARNER BROS DISCOVERY INC 0.0%

Value ($000) $679 Shares 23,527 Est. Cost $11.19 Unrealized +108.8%

GM GENERAL MTRS CO 0.0%

Value ($000) $797 Shares 9,800 Est. Cost $48.67 Unrealized +44.6%

UPS UNITED PARCEL SERVICE INC 0.0%

Value ($000) $1,220 Shares 12,300 Est. Cost $117.77 Unrealized -21.3%

ZBH ZIMMER BIOMET HOLDINGS INC 0.0%

Value ($000) $2,010 Shares 22,350 Est. Cost $108.21 Unrealized -12.6%

CTSH COGNIZANT TECHNOLOGY SOLUTIO 0.0%

Value ($000) $849 Shares 10,232 Est. Cost $74.97 Unrealized -0.4%

MRK MERCK & CO INC 0.0%

Value ($000) $768 Shares 7,300 Est. Cost $90.34 Unrealized +3.2%

SYK STRYKER CORPORATION 0.1%

Value ($000) $2,915 Shares 8,293 Est. Cost $294.85 Unrealized +23.3%

LIN LINDE PLC 0.0%

Value ($000) $1,322 Shares 3,100 Est. Cost $441.99 Unrealized -3.3%

RIO RIO TINTO PLC 0.0%

Value ($000) $768 Shares 9,600 Est. Cost $32.86 Unrealized —

BLK BLACKROCK INC 0.0%

Value ($000) $1,284 Shares 1,200 Est. Cost $961.85 Unrealized +13.3%

DOV DOVER CORP 0.0%

Value ($000) $761 Shares 3,900 Est. Cost $189.03 Unrealized -3.8%

B BARRICK MNG CORP 0.0%

Value ($000) $444 Shares 10,200 Est. Cost $25.15 Unrealized +48.8%

EXPD EXPEDITORS INTL WASH INC 0.0%

Value ($000) $610 Shares 4,095 Est. Cost $99.92 Unrealized +35.7%

GHM GRAHAM CORP 0.0%

Value ($000) $707 Shares 11,000 Est. Cost $10.52 Unrealized +473.5%

SYY SYSCO CORP 0.0%

Value ($000) $818 Shares 11,100 Est. Cost $71.87 Unrealized +5.1%

MDLZ MONDELEZ INTL INC 0.0%

Value ($000) $571 Shares 10,600 Est. Cost $59.70 Unrealized -4.4%

CARR CARRIER GLOBAL CORPORATION 0.0%

Value ($000) $676 Shares 12,787 Est. Cost $62.97 Unrealized -11.8%

MT ARCELORMITTAL SA LUXEMBOURG 0.0%

Value ($000) $368 Shares 8,066 Est. Cost $22.45 Unrealized —

T AT&T INC 0.0%

Value ($000) $548 Shares 22,053 Est. Cost $20.98 Unrealized +20.5%

ABT ABBOTT LABS 0.0%

Value ($000) $1,047 Shares 8,358 Est. Cost $97.62 Unrealized +30.4%

DELL DELL TECHNOLOGIES INC 0.0%

Value ($000) $522 Shares 4,147 Est. Cost $103.90 Unrealized +35.5%

VOD VODAFONE GROUP PLC NEW 0.0%

Value ($000) $525 Shares 39,733 Est. Cost $10.33 Unrealized —

HWM HOWMET AEROSPACE INC 0.0%

Value ($000) $1,442 Shares 7,033 Est. Cost $111.01 Unrealized +79.3%

— HILLENBRAND INC 0.0%

Value ($000) $333 Shares 10,500 Est. Cost $35.21 Unrealized —

SCZ ISHARES TR 0.1%

Value ($000) $4,056 Shares 52,300 Est. Cost $69.08 Unrealized —

ECL ECOLAB INC 0.0%

Value ($000) $945 Shares 3,600 Est. Cost $249.22 Unrealized +6.6%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.1%

Value ($000) $4,856 Shares 9,661 Est. Cost $455.25 Unrealized +9.3%

PNC PNC FINL SVCS GROUP INC 0.0%

Value ($000) $1,044 Shares 5,000 Est. Cost $174.88 Unrealized +10.2%

AVGO BROADCOM INC 0.0%

Value ($000) $827 Shares 2,390 Est. Cost $209.61 Unrealized +70.3%

ITW ILLINOIS TOOL WKS INC 0.0%

Value ($000) $628 Shares 2,550 Est. Cost $250.60 Unrealized -1.2%

QCOM QUALCOMM INC 0.0%

Value ($000) $1,341 Shares 7,839 Est. Cost $158.37 Unrealized +7.8%

ADI ANALOG DEVICES INC 0.0%

Value ($000) $346 Shares 1,275 Est. Cost $147.75 Unrealized +69.6%

VZ VERIZON COMMUNICATIONS INC 0.0%

Value ($000) $409 Shares 10,033 Est. Cost $37.74 Unrealized +7.3%

MCO MOODYS CORP 0.0%

Value ($000) $420 Shares 823 Est. Cost $474.18 Unrealized +2.8%

FTV FORTIVE CORP 0.0%

Value ($000) $240 Shares 4,350 Est. Cost $58.14 Unrealized -10.8%

OTIS OTIS WORLDWIDE CORP 0.0%

Value ($000) $558 Shares 6,393 Est. Cost $75.66 Unrealized +18.0%

COST COSTCO WHSL CORP NEW 0.0%

Value ($000) $349 Shares 405 Est. Cost $918.53 Unrealized -1.4%

HDV ISHARES TR 0.1%

Value ($000) $2,894 Shares 23,800 Est. Cost $139.63 Unrealized —

SNA SNAP ON INC 0.0%

Value ($000) $1,025 Shares 2,975 Est. Cost $331.37 Unrealized +2.7%

CME CME GROUP INC 0.0%

Value ($000) $535 Shares 1,959 Est. Cost $241.82 Unrealized +12.0%

AEM AGNICO EAGLE MINES LTD 0.0%

Value ($000) $915 Shares 5,400 Est. Cost $43.84 Unrealized +282.9%

UNP UNION PAC CORP 0.0%

Value ($000) $236 Shares 1,022 Est. Cost $235.50 Unrealized -3.5%

CL COLGATE PALMOLIVE CO 0.0%

Value ($000) $443 Shares 5,600 Est. Cost $69.91 Unrealized +12.0%

PRLB PROTO LABS INC 0.0%

Value ($000) $228 Shares 4,500 Est. Cost $45.82 Unrealized +11.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FMC	FMC CORP	450,000	$6,242	0.1%	$53.55	-64.6%	COM NEW	302491303
PII	POLARIS INC	1,035,000	$65,464	1.4%	$37.93	+73.6%	COM	731068102
BAX	BAXTER INTL INC	1,050,000	$20,066	0.4%	$30.21	-33.8%	COM	071813109
USB	US BANCORP DEL	625,000	$33,350	0.7%	$40.42	+20.6%	COM NEW	902973304
AMSF	AMERISAFE INC	426,900	$16,397	0.3%	$41.95	-6.4%	COM	03071H100
ORCL	ORACLE CORP	14,500	$2,826	0.1%	$157.03	+51.6%	COM	68389X105
CCL	CARNIVAL CORP	650,000	$19,851	0.4%	$11.49	+142.7%	UNIT 99/99/9999	143658300
TFC	TRUIST FINL CORP	288,000	$14,172	0.3%	$37.53	+22.1%	COM	89832Q109
EPD	ENTERPRISE PRODS PARTNERS L	1,000,000	$32,060	0.7%	$27.91	—	COM	293792107
AVB	AVALONBAY CMNTYS INC	65,000	$11,785	0.2%	$191.60	-6.2%	COM	053484101
DOW	DOW INC	1,611,000	$37,665	0.8%	$27.83	-18.2%	COM	260557103
AMAT	APPLIED MATLS INC	13,114	$3,370	0.1%	$93.28	+156.8%	COM	038222105
TD	TORONTO DOMINION BK ONT	42,096	$3,965	0.1%	$65.25	+29.4%	COM NEW	891160509
ENB	ENBRIDGE INC	179,110	$8,567	0.2%	$43.51	+8.3%	COM	29250N105
IEMG	ISHARES INC	360,000	$24,199	0.5%	$50.77	—	CORE MSCI EMKT	46434G103
TMO	THERMO FISHER SCIENTIFIC INC	4,190	$2,428	0.1%	$539.56	+4.7%	COM	883556102
NVS	NOVARTIS AG	33,570	$4,628	0.1%	$116.72	—	SPONSORED ADR	66987V109
CHRW	C H ROBINSON WORLDWIDE INC	9,400	$1,511	0.0%	$90.89	+62.1%	COM NEW	12541W209
PG	PROCTER AND GAMBLE CO	24,769	$3,550	0.1%	$149.38	-1.5%	COM	742718109
AAPL	APPLE INC	14,818	$4,028	0.1%	$140.70	+90.7%	COM	037833100
WBD	WARNER BROS DISCOVERY INC	23,527	$679	0.0%	$11.19	+108.8%	COM SER A	934423104
GM	GENERAL MTRS CO	9,800	$797	0.0%	$48.67	+44.6%	COM	37045V100
UPS	UNITED PARCEL SERVICE INC	12,300	$1,220	0.0%	$117.77	-21.3%	CL B	911312106
ZBH	ZIMMER BIOMET HOLDINGS INC	22,350	$2,010	0.0%	$108.21	-12.6%	COM	98956P102
CTSH	COGNIZANT TECHNOLOGY SOLUTIO	10,232	$849	0.0%	$74.97	-0.4%	CL A	192446102
MRK	MERCK & CO INC	7,300	$768	0.0%	$90.34	+3.2%	COM	58933Y105
SYK	STRYKER CORPORATION	8,293	$2,915	0.1%	$294.85	+23.3%	COM	863667101
LIN	LINDE PLC	3,100	$1,322	0.0%	$441.99	-3.3%	SHS	G54950103
RIO	RIO TINTO PLC	9,600	$768	0.0%	$32.86	—	SPONSORED ADR	767204100
BLK	BLACKROCK INC	1,200	$1,284	0.0%	$961.85	+13.3%	COM	09290D101
DOV	DOVER CORP	3,900	$761	0.0%	$189.03	-3.8%	COM	260003108
B	BARRICK MNG CORP	10,200	$444	0.0%	$25.15	+48.8%	COM SHS	06849F108
EXPD	EXPEDITORS INTL WASH INC	4,095	$610	0.0%	$99.92	+35.7%	COM	302130109
GHM	GRAHAM CORP	11,000	$707	0.0%	$10.52	+473.5%	COM	384556106
SYY	SYSCO CORP	11,100	$818	0.0%	$71.87	+5.1%	COM	871829107
MDLZ	MONDELEZ INTL INC	10,600	$571	0.0%	$59.70	-4.4%	CL A	609207105
CARR	CARRIER GLOBAL CORPORATION	12,787	$676	0.0%	$62.97	-11.8%	COM	14448C104
MT	ARCELORMITTAL SA LUXEMBOURG	8,066	$368	0.0%	$22.45	—	NY REGISTRY SH	03938L203
T	AT&T INC	22,053	$548	0.0%	$20.98	+20.5%	COM	00206R102
ABT	ABBOTT LABS	8,358	$1,047	0.0%	$97.62	+30.4%	COM	002824100
DELL	DELL TECHNOLOGIES INC	4,147	$522	0.0%	$103.90	+35.5%	CL C	24703L202
VOD	VODAFONE GROUP PLC NEW	39,733	$525	0.0%	$10.33	—	SPONSORED ADR	92857W308
HWM	HOWMET AEROSPACE INC	7,033	$1,442	0.0%	$111.01	+79.3%	COM	443201108
—	HILLENBRAND INC	10,500	$333	0.0%	$35.21	—	COM	431571108
SCZ	ISHARES TR	52,300	$4,056	0.1%	$69.08	—	EAFE SML CP ETF	464288273
ECL	ECOLAB INC	3,600	$945	0.0%	$249.22	+6.6%	COM	278865100
BRK/B	BERKSHIRE HATHAWAY INC DEL	9,661	$4,856	0.1%	$455.25	+9.3%	CL B NEW	084670702
PNC	PNC FINL SVCS GROUP INC	5,000	$1,044	0.0%	$174.88	+10.2%	COM	693475105
AVGO	BROADCOM INC	2,390	$827	0.0%	$209.61	+70.3%	COM	11135F101
ITW	ILLINOIS TOOL WKS INC	2,550	$628	0.0%	$250.60	-1.2%	COM	452308109
QCOM	QUALCOMM INC	7,839	$1,341	0.0%	$158.37	+7.8%	COM	747525103
ADI	ANALOG DEVICES INC	1,275	$346	0.0%	$147.75	+69.6%	COM	032654105
VZ	VERIZON COMMUNICATIONS INC	10,033	$409	0.0%	$37.74	+7.3%	COM	92343V104
MCO	MOODYS CORP	823	$420	0.0%	$474.18	+2.8%	COM	615369105
FTV	FORTIVE CORP	4,350	$240	0.0%	$58.14	-10.8%	COM	34959J108
OTIS	OTIS WORLDWIDE CORP	6,393	$558	0.0%	$75.66	+18.0%	COM	68902V107
COST	COSTCO WHSL CORP NEW	405	$349	0.0%	$918.53	-1.4%	COM	22160K105
HDV	ISHARES TR	23,800	$2,894	0.1%	$139.63	—	CORE HIGH DV ETF	46429B663
SNA	SNAP ON INC	2,975	$1,025	0.0%	$331.37	+2.7%	COM	833034101
CME	CME GROUP INC	1,959	$535	0.0%	$241.82	+12.0%	COM	12572Q105
AEM	AGNICO EAGLE MINES LTD	5,400	$915	0.0%	$43.84	+282.9%	COM	008474108
UNP	UNION PAC CORP	1,022	$236	0.0%	$235.50	-3.5%	COM	907818108
CL	COLGATE PALMOLIVE CO	5,600	$443	0.0%	$69.91	+12.0%	COM	194162103
PRLB	PROTO LABS INC	4,500	$228	0.0%	$45.82	+11.6%	COM	743713109