# EDGAR Filing Document

**Accession Number:** 0001961635
**File Stem:** 0001172661-26-001953
**Filing Date:** 2026-5
**Character Count:** 20099
**Document Hash:** 026297a85dc6c0e2e1e7d04f32e4104d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-001953.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001172661-26-001953

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**EFFECTIVENESS DATE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BEACON INVESTMENT ADVISORS LLC
- **CENTRAL INDEX KEY:** 0001961635

**ORGANIZATION NAME:**
- **EIN:** 800064847
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22864
- **FILM NUMBER:** 26978181

**BUSINESS ADDRESS:**
- **STREET 1:** 7 BROOKES AVENUE
- **CITY:** GAITHERSBURG
- **STATE:** MD
- **ZIP:** 20877
- **BUSINESS PHONE:** 3016701700

**MAIL ADDRESS:**
- **STREET 1:** 7 BROOKES AVENUE
- **CITY:** GAITHERSBURG
- **STATE:** MD
- **ZIP:** 20877

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** BEACON INVESTMENT ADVISORS LLC<br>**Address:** 7 Brookes Avenue<br>Gaithersburg, MD 20877

**Form 13F File Number:** 028-22864

**CRD Number (if applicable):** 000127368

**SEC File Number (if applicable):** 801-125799

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Cornell P Abod<br>**Title:** Principal<br>**Phone:** 301-840-1901

**Signature, Place, and Date of Signing:**

/s/ Cornell P Abod  Gaithersburg, MD  05-14-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 171

**Form 13F Information Table Value Total:** $264919436

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABORATORIES | COM | 002824100 |  | 777931 | 7577 | SH |  | SOLE |  | 7577 | 0 | 0 |
| ABM INDS INC | COM | 000957100 |  | 1336701 | 34701 | SH |  | SOLE |  | 34701 | 0 | 0 |
| ACUITY INC | COM | 00508Y102 |  | 482001 | 1720 | SH |  | SOLE |  | 1720 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 2213666 | 10882 | SH |  | SOLE |  | 10882 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2604062 | 9056 | SH |  | SOLE |  | 9056 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 462638 | 1613 | SH |  | SOLE |  | 1613 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 497818 | 2390 | SH |  | SOLE |  | 2390 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 4653791 | 15385 | SH |  | SOLE |  | 15385 | 0 | 0 |
| AMERICAN FINANCIAL GROUP INC | COM | 025932104 |  | 255420 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 |  | 232906 | 8342 | SH |  | SOLE |  | 8342 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 649819 | 1847 | SH |  | SOLE |  | 1847 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 320641 | 1008 | SH |  | SOLE |  | 1008 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 9418534 | 37112 | SH |  | SOLE |  | 37112 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 13323352 | 38981 | SH |  | SOLE |  | 38981 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1566208 | 21546 | SH |  | SOLE |  | 21546 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 582785 | 20103 | SH |  | SOLE |  | 20103 | 0 | 0 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 |  | 1222386 | 34202 | SH |  | SOLE |  | 34202 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 4057393 | 83229 | SH |  | SOLE |  | 83229 | 0 | 0 |
| BASSETT FURNITURE INDS INC | COM | 070203104 |  | 567659 | 40117 | SH |  | SOLE |  | 40117 | 0 | 0 |
| BAXTER INTL INC | COM | 071813109 |  | 717074 | 42683 | SH |  | SOLE |  | 42683 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 12738268 | 26582 | SH |  | SOLE |  | 26582 | 0 | 0 |
| BJS WHSL CLUB HLDGS INC | COM | 05550J101 |  | 1781481 | 18101 | SH |  | SOLE |  | 18101 | 0 | 0 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 2034344 | 183937 | SH |  | SOLE |  | 183937 | 0 | 0 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 |  | 1503748 | 164704 | SH |  | SOLE |  | 164704 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 633667 | 10448 | SH |  | SOLE |  | 10448 | 0 | 0 |
| BROOKFIELD RENEWABLE CORP | CL A EX SUB VTG | 11285B108 |  | 495691 | 12445 | SH |  | SOLE |  | 12445 | 0 | 0 |
| BROOKFIELD RENEWABLE ENERGY | PARTNERSHIP UNIT | G16258108 |  | 397042 | 12164 | SH |  | SOLE |  | 12164 | 0 | 0 |
| BUCKLE INC | COM | 118440106 |  | 1875753 | 37247 | SH |  | SOLE |  | 37247 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 1311883 | 16575 | SH |  | SOLE |  | 16575 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 1366196 | 13294 | SH |  | SOLE |  | 13294 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 1838557 | 10078 | SH |  | SOLE |  | 10078 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 7296362 | 10024 | SH |  | SOLE |  | 10024 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 3597436 | 5078 | SH |  | SOLE |  | 5078 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 1415316 | 6841 | SH |  | SOLE |  | 6841 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 380698 | 2251 | SH |  | SOLE |  | 2251 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 4093207 | 52754 | SH |  | SOLE |  | 52754 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 260290 | 2295 | SH |  | SOLE |  | 2295 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 1668331 | 21937 | SH |  | SOLE |  | 21937 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 414000 | 2371 | SH |  | SOLE |  | 2371 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 477119 | 16619 | SH |  | SOLE |  | 16619 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 321423 | 2435 | SH |  | SOLE |  | 2435 | 0 | 0 |
| CONSTELLIUM SE | CL A SHS | F21107101 |  | 8036825 | 326966 | SH |  | SOLE |  | 326966 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 503030 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 5696920 | 5717 | SH |  | SOLE |  | 5717 | 0 | 0 |
| COTERRA ENERGY INC | COM | 127097103 |  | 559486 | 15922 | SH |  | SOLE |  | 15922 | 0 | 0 |
| CRACKER BARREL OLD CTRY STOR | COM | 22410J106 |  | 613654 | 21830 | SH |  | SOLE |  | 21830 | 0 | 0 |
| CRACKER BARREL OLD CTRY STOR | NOTE 0.625% 6/1 | 22410JAB2 |  | 14648 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 261155 | 485 | SH |  | SOLE |  | 485 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 2020244 | 10305 | SH |  | SOLE |  | 10305 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 5080499 | 9019 | SH |  | SOLE |  | 9019 | 0 | 0 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 1869270 | 25108 | SH |  | SOLE |  | 25108 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 216032 | 1199 | SH |  | SOLE |  | 1199 | 0 | 0 |
| DIGITALOCEAN HLDGS INC | COM | 25402D102 |  | 262830 | 3064 | SH |  | SOLE |  | 3064 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 457462 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| DOW HLDGS INC | COM | 260557103 |  | 416500 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 428799 | 3275 | SH |  | SOLE |  | 3275 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 320140 | 895 | SH |  | SOLE |  | 895 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 1970830 | 36402 | SH |  | SOLE |  | 36402 | 0 | 0 |
| EVOLV TECHNOLOGIES HLDNGS IN | COM CL A | 30049H102 |  | 245237 | 40535 | SH |  | SOLE |  | 40535 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1624056 | 9572 | SH |  | SOLE |  | 9572 | 0 | 0 |
| F5 INC | COM | 315616102 |  | 1790394 | 6188 | SH |  | SOLE |  | 6188 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 1629063 | 35109 | SH |  | SOLE |  | 35109 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 3086897 | 8667 | SH |  | SOLE |  | 8667 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 1392953 | 5972 | SH |  | SOLE |  | 5972 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SHS | 33734H106 |  | 369106 | 7848 | SH |  | SOLE |  | 7848 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 752151 | 9204 | SH |  | SOLE |  | 9204 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 230522 | 1064 | SH |  | SOLE |  | 1064 | 0 | 0 |
| GENERAC HLDGS INC | COM | 368736104 |  | 5896427 | 30187 | SH |  | SOLE |  | 30187 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 296481 | 864 | SH |  | SOLE |  | 864 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 |  | 732063 | 19669 | SH |  | SOLE |  | 19669 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 783207 | 7406 | SH |  | SOLE |  | 7406 | 0 | 0 |
| GLADSTONE COMMERCIAL CORP | COM | 376536108 |  | 502386 | 43953 | SH |  | SOLE |  | 43953 | 0 | 0 |
| GOLDEN ENTMT INC | COM | 381013101 |  | 1199976 | 44960 | SH |  | SOLE |  | 44960 | 0 | 0 |
| GRAHAM HLDGS CO | COM CL B | 384637104 |  | 3069404 | 2903 | SH |  | SOLE |  | 2903 | 0 | 0 |
| HAEMONETICS CORP MASS | COM | 405024100 |  | 2091819 | 37115 | SH |  | SOLE |  | 37115 | 0 | 0 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 4044036 | 48391 | SH |  | SOLE |  | 48391 | 0 | 0 |
| HEARTLAND EXPRESS INC | COM | 422347104 |  | 674242 | 64831 | SH |  | SOLE |  | 64831 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1441370 | 4383 | SH |  | SOLE |  | 4383 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 1728847 | 7649 | SH |  | SOLE |  | 7649 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 289391 | 1112 | SH |  | SOLE |  | 1112 | 0 | 0 |
| INTELLICHECK MOBILISA INC | COM NEW | 45817G201 |  | 83363 | 11926 | SH |  | SOLE |  | 11926 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 486861 | 2009 | SH |  | SOLE |  | 2009 | 0 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 357000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 4187279 | 9684 | SH |  | SOLE |  | 9684 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | LARGE CAP VALUE | 46137V738 |  | 285462 | 4095 | SH |  | SOLE |  | 4095 | 0 | 0 |
| INVITATION HOMES INC | COM | 46187W107 |  | 407469 | 16397 | SH |  | SOLE |  | 16397 | 0 | 0 |
| IRON MTN INC DEL | COM | 46284V101 |  | 958881 | 9388 | SH |  | SOLE |  | 9388 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 1040612 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 201196 | 1619 | SH |  | SOLE |  | 1619 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1413635 | 5783 | SH |  | SOLE |  | 5783 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 2009176 | 6830 | SH |  | SOLE |  | 6830 | 0 | 0 |
| KIMCO REALTY CORP | COM | 49446R109 |  | 429408 | 19110 | SH |  | SOLE |  | 19110 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 685789 | 20453 | SH |  | SOLE |  | 20453 | 0 | 0 |
| KOHLS CORP | COM | 500255104 |  | 272729 | 21142 | SH |  | SOLE |  | 21142 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 2683399 | 7775 | SH |  | SOLE |  | 7775 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 1346649 | 8659 | SH |  | SOLE |  | 8659 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 218491 | 2516 | SH |  | SOLE |  | 2516 | 0 | 0 |
| LISTED FDS TR | YIELDS FOR YOU I | 53656G357 |  | 225268 | 23055 | SH |  | SOLE |  | 23055 | 0 | 0 |
| LKQ CORP | COM | 501889208 |  | 340752 | 11602 | SH |  | SOLE |  | 11602 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 3925914 | 6496 | SH |  | SOLE |  | 6496 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 2795100 | 9291 | SH |  | SOLE |  | 9291 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 617288 | 323 | SH |  | SOLE |  | 323 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 7369120 | 22531 | SH |  | SOLE |  | 22531 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 732303 | 8451 | SH |  | SOLE |  | 8451 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 616000 | 5121 | SH |  | SOLE |  | 5121 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 10637055 | 28736 | SH |  | SOLE |  | 28736 | 0 | 0 |
| MILLROSE PPTYS INC | COM CL A | 601137102 |  | 1395243 | 49830 | SH |  | SOLE |  | 49830 | 0 | 0 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 1338185 | 14503 | SH |  | SOLE |  | 14503 | 0 | 0 |
| MURPHY USA INC | COM | 626755102 |  | 1098815 | 2224 | SH |  | SOLE |  | 2224 | 0 | 0 |
| NATIONAL STORAGE AFFILIATES | COM SHS BEN IN | 637870106 |  | 660450 | 17500 | SH |  | SOLE |  | 17500 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 613716 | 6383 | SH |  | SOLE |  | 6383 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 1082500 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| NEWTEKONE INC | COM NEW | 652526203 |  | 183115 | 16723 | SH |  | SOLE |  | 16723 | 0 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 458250 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 728580 | 4178 | SH |  | SOLE |  | 4178 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 2876461 | 437 | SH |  | SOLE |  | 437 | 0 | 0 |
| OCULAR THERAPEUTIX INC | COM | 67576A100 |  | 3649520 | 430876 | SH |  | SOLE |  | 430876 | 0 | 0 |
| OMEGA HEALTHCARE INVS INC | COM | 681936100 |  | 766850 | 17500 | SH |  | SOLE |  | 17500 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 367136 | 2290 | SH |  | SOLE |  | 2290 | 0 | 0 |
| PENNANTPARK FLOATING RATE CA | COM | 70806A106 |  | 171619 | 21346 | SH |  | SOLE |  | 21346 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 498195 | 17742 | SH |  | SOLE |  | 17742 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 268005 | 1621 | SH |  | SOLE |  | 1621 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 1710017 | 9386 | SH |  | SOLE |  | 9386 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 918911 | 10194 | SH |  | SOLE |  | 10194 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 365784 | 2532 | SH |  | SOLE |  | 2532 | 0 | 0 |
| PROFESIONALLY MANAGED PORTFO | AKRE FOCUS ETF | 74316P579 |  | 2626442 | 49696 | SH |  | SOLE |  | 49696 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 505923 | 5179 | SH |  | SOLE |  | 5179 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 1103955 | 8572 | SH |  | SOLE |  | 8572 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 481781 | 7875 | SH |  | SOLE |  | 7875 | 0 | 0 |
| REDWOOD TRUST INC | COM | 758075402 |  | 1356556 | 241810 | SH |  | SOLE |  | 241810 | 0 | 0 |
| REDWOOD TRUST INC | NOTE 7.750% 6/1 | 758075AF2 |  | 45450 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| REGAL REXNORD CORPORATION | COM | 758750103 |  | 309915 | 1655 | SH |  | SOLE |  | 1655 | 0 | 0 |
| RENAISSANCERE HLDGS LTD | COM | G7496G103 |  | 488692 | 1644 | SH |  | SOLE |  | 1644 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 3234669 | 11755 | SH |  | SOLE |  | 11755 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 1829231 | 9483 | SH |  | SOLE |  | 9483 | 0 | 0 |
| RYANAIR HOLDINGS PLC | SPONSORED ADR | 783513203 |  | 3803249 | 65800 | SH |  | SOLE |  | 65800 | 0 | 0 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 2806827 | 30420 | SH |  | SOLE |  | 30420 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 1439534 | 7712 | SH |  | SOLE |  | 7712 | 0 | 0 |
| SAMSARA INC | COM CL A | 79589L106 |  | 378759 | 11952 | SH |  | SOLE |  | 11952 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 354520 | 558 | SH |  | SOLE |  | 558 | 0 | 0 |
| SAUL CTRS INC | COM | 804395101 |  | 1035784 | 31792 | SH |  | SOLE |  | 31792 | 0 | 0 |
| SENTINELONE INC | CL A | 81730H109 |  | 275465 | 21387 | SH |  | SOLE |  | 21387 | 0 | 0 |
| SHENANDOAH TELECOMMUNICATION | COM | 82312B106 |  | 498536 | 32330 | SH |  | SOLE |  | 32330 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 738635 | 3960 | SH |  | SOLE |  | 3960 | 0 | 0 |
| SINCLAIR INC | CL A | 829242106 |  | 724595 | 55997 | SH |  | SOLE |  | 55997 | 0 | 0 |
| SNAP ON INC | COM | 833034101 |  | 356286 | 981 | SH |  | SOLE |  | 981 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 703926 | 7293 | SH |  | SOLE |  | 7293 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 567076 | 15094 | SH |  | SOLE |  | 15094 | 0 | 0 |
| STATE STR SPDR DOW JONES IND | UT SER 1 | 78467X109 |  | 287375 | 620 | SH |  | SOLE |  | 620 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 544673 | 838 | SH |  | SOLE |  | 838 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 1540802 | 21601 | SH |  | SOLE |  | 21601 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 308604 | 913 | SH |  | SOLE |  | 913 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 872379 | 5283 | SH |  | SOLE |  | 5283 | 0 | 0 |
| TITAN INTL INC ILL | COM | 88830M102 |  | 1602628 | 231929 | SH |  | SOLE |  | 231929 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 361872 | 7988 | SH |  | SOLE |  | 7988 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 731386 | 2507 | SH |  | SOLE |  | 2507 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 408428 | 1683 | SH |  | SOLE |  | 1683 | 0 | 0 |
| UNITED BANKSHARES INC WEST V | COM | 909907107 |  | 227004 | 5481 | SH |  | SOLE |  | 5481 | 0 | 0 |
| UNITED PARCEL SVCS INC | CL B | 911312106 |  | 1707150 | 17353 | SH |  | SOLE |  | 17353 | 0 | 0 |
| US BANCORP | COM NEW | 902973304 |  | 225515 | 4336 | SH |  | SOLE |  | 4336 | 0 | 0 |
| UTZ BRANDS INC | COM CL A | 918090101 |  | 176940 | 22341 | SH |  | SOLE |  | 22341 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 4207509 | 17029 | SH |  | SOLE |  | 17029 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 271640 | 389 | SH |  | SOLE |  | 389 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1278428 | 25467 | SH |  | SOLE |  | 25467 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 |  | 365042 | 13362 | SH |  | SOLE |  | 13362 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 4503889 | 36240 | SH |  | SOLE |  | 36240 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 357023 | 1554 | SH |  | SOLE |  | 1554 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 336548 | 2907 | SH |  | SOLE |  | 2907 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 |  | 214838 | 2699 | SH |  | SOLE |  | 2699 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 484378 | 1791 | SH |  | SOLE |  | 1791 | 0 | 0 |
| WEYERHAEUSER CO | COM NEW | 962166104 |  | 320079 | 13102 | SH |  | SOLE |  | 13102 | 0 | 0 |

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