# EDGAR Filing Document

**Accession Number:** 0001094749
**File Stem:** 0000935836-25-000466
**Filing Date:** 2025-7
**Character Count:** 20522
**Document Hash:** de9f0b302ee410d6892e2b04a6ba52da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000935836-25-000466.hdr.sgml**: 20250718

**ACCESSION NUMBER**: 0000935836-25-000466

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250718

**DATE AS OF CHANGE**: 20250718

**EFFECTIVENESS DATE**: 20250718

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHURCHILL MANAGEMENT Corp
- **CENTRAL INDEX KEY:** 0001094749

**ORGANIZATION NAME:**
- **EIN:** 952472632
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05029
- **FILM NUMBER:** 251134956

**BUSINESS ADDRESS:**
- **STREET 1:** 5900 WILSHIRE BLVD
- **STREET 2:** STE 400
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90036
- **BUSINESS PHONE:** 3239377110

**MAIL ADDRESS:**
- **STREET 1:** 5900 WILSHIRE BLVD
- **STREET 2:** STE 400
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHURCHILL MANAGEMENT GROUP /CA/
- **DATE OF NAME CHANGE:** 19990909

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** CHURCHILL MANAGEMENT Corp<br>**Address:** 5900 Wilshire Blvd<br>Ste 400<br>Los Angeles, CA 90036

**Form 13F File Number:** 028-05029

**CRD Number (if applicable):** 000109651

**SEC File Number (if applicable):** 801-4211

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:** Eileen Holmes<br>**Title:** Executive Vice President<br>**Phone:** 323-937-7110

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

/s/ Eileen Holmes  Los Angeles, CA  07-18-2025<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:** 164

**Form 13F Information Table Value Total:** $9212665094

      (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 |
| ADTALEM GLOBAL ED INC COM | COM | 00737L103 |  | 4474806 | 35171 | SH |  | SOLE |  | 35171 | 0 | 0 |
| ADVANCED MICRO DEVICES  INC | COM | 007903107 |  | 7890775 | 55608 | SH |  | SOLE |  | 55608 | 0 | 0 |
| AES CORP | COM | 00130H105 |  | 8100660 | 770025 | SH |  | SOLE |  | 770025 | 0 | 0 |
| ALLIANCEBERNSTEIN       HOLDIN | COM | 01881G106 |  | 12855092 | 314844 | SH |  | SOLE |  | 314844 | 0 | 0 |
| ALPHABET INC CAP STK CL A | COM | 02079K305 |  | 35548508 | 201717 | SH |  | SOLE |  | 201717 | 0 | 0 |
| ALPHABET INC CAP STK CL C | COM | 02079K107 |  | 373149 | 2104 | SH |  | SOLE |  | 2104 | 0 | 0 |
| ALTRIA GROUP INC COM | COM | 02209S103 |  | 15139920 | 258228 | SH |  | SOLE |  | 258228 | 0 | 0 |
| AMAZON.COM INC | COM | 023135106 |  | 18961562 | 86429 | SH |  | SOLE |  | 86429 | 0 | 0 |
| AMER SPORTS INC COM SHS | COM | G0260P102 |  | 647214 | 16698 | SH |  | SOLE |  | 16698 | 0 | 0 |
| AMERICAN GREEN GROUP INC COM N | COM | 02639T200 |  | 0 | 87500 | SH |  | SOLE |  | 87500 | 0 | 0 |
| AMERICAN INTL GROUP INC COM NE | COM | 026874784 |  | 15368932 | 179565 | SH |  | SOLE |  | 179565 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 10662625 | 44797 | SH |  | SOLE |  | 44797 | 0 | 0 |
| APPLE INC COM | COM | 037833100 |  | 48147577 | 234672 | SH |  | SOLE |  | 234672 | 0 | 0 |
| APPLOVIN CORP COM CL A | COM | 03831W108 |  | 3673039 | 10492 | SH |  | SOLE |  | 10492 | 0 | 0 |
| ARCADIA RES INC COM | COM | 039209101 |  | 0 | 364150 | SH |  | SOLE |  | 364150 | 0 | 0 |
| ARCHROCK INC | COM | 03957W106 |  | 11808672 | 475581 | SH |  | SOLE |  | 475581 | 0 | 0 |
| ASPIRE INTL INC COM | COM | 04537N103 |  | 0 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| AT INC COM | COM | 00206R102 |  | 9379561 | 324104 | SH |  | SOLE |  | 324104 | 0 | 0 |
| AUTOZONE INC COM | COM | 053332102 |  | 14624553 | 3940 | SH |  | SOLE |  | 3940 | 0 | 0 |
| BALTIA AIR LINES INC COM | COM | 058823105 |  | 0 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 24477529 | 333164 | SH |  | SOLE |  | 333164 | 0 | 0 |
| BERKSHIRE HATHAWAY INC  CL B | COM | 084670702 |  | 18791491 | 38684 | SH |  | SOLE |  | 38684 | 0 | 0 |
| BOEING CO COM | COM | 097023105 |  | 1149691 | 5487 | SH |  | SOLE |  | 5487 | 0 | 0 |
| BOOKING HOLDINGS INC COM | COM | 09857L108 |  | 2784624 | 481 | SH |  | SOLE |  | 481 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 21017588 | 195676 | SH |  | SOLE |  | 195676 | 0 | 0 |
| BRIGHTSPRING HEALTH SERVICES I | COM | 10950A106 |  | 2714383 | 115065 | SH |  | SOLE |  | 115065 | 0 | 0 |
| BROADCOM INC COM | COM | 11135F101 |  | 79350234 | 287866 | SH |  | SOLE |  | 287866 | 0 | 0 |
| BROOKFIELD              INFRAS | COM | 11276H106 |  | 11910201 | 286303 | SH |  | SOLE |  | 286303 | 0 | 0 |
| CARDINAL HEALTH INC COM | COM | 14149Y108 |  | 40806561 | 242896 | SH |  | SOLE |  | 242896 | 0 | 0 |
| CARNIVAL CORP PAIRED CTF1 COM | COM | 143658300 |  | 15811755 | 562296 | SH |  | SOLE |  | 562296 | 0 | 0 |
| CARRIER GLOBAL CORP | COM | 14448C104 |  | 9488109 | 129637 | SH |  | SOLE |  | 129637 | 0 | 0 |
| CAVA GROUP INC COM | COM | 148929102 |  | 3821768 | 45373 | SH |  | SOLE |  | 45373 | 0 | 0 |
| CHEVRON CORP NEW COM | COM | 166764100 |  | 1758043 | 12278 | SH |  | SOLE |  | 12278 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC COM | COM | 169656105 |  | 12874393 | 229286 | SH |  | SOLE |  | 229286 | 0 | 0 |
| CITIGROUP INC COM NEW | COM | 172967424 |  | 1139927 | 13392 | SH |  | SOLE |  | 13392 | 0 | 0 |
| COINBASE GLOBAL INC COM CL A | COM | 19260Q107 |  | 9396637 | 26810 | SH |  | SOLE |  | 26810 | 0 | 0 |
| COMMUNICATION SERVICES  SELECT | COM | 81369Y852 |  | 433212938 | 3991642 | SH |  | SOLE |  | 3991642 | 0 | 0 |
| CONSUMER DISCRETIONARY  SELECT | COM | 81369Y407 |  | 218237545 | 1004176 | SH |  | SOLE |  | 1004176 | 0 | 0 |
| CONSUMER STAPLES        SELECT | COM | 81369Y308 |  | 189847531 | 2344665 | SH |  | SOLE |  | 2344665 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 3016526 | 61474 | SH |  | SOLE |  | 61474 | 0 | 0 |
| CORNING INC COM | COM | 219350105 |  | 2236736 | 42532 | SH |  | SOLE |  | 42532 | 0 | 0 |
| COSTCO WHSL CORP NEW COM | COM | 22160K105 |  | 9006695 | 9098 | SH |  | SOLE |  | 9098 | 0 | 0 |
| COUPANG INC CL A | COM | 22266T109 |  | 2314410 | 77250 | SH |  | SOLE |  | 77250 | 0 | 0 |
| CRANE COMPANY COMMON STOCK | COM | 224408104 |  | 2355775 | 12406 | SH |  | SOLE |  | 12406 | 0 | 0 |
| CROWDSTRIKE HOLDINGS INCCL A | COM | 22788C105 |  | 28229098 | 55426 | SH |  | SOLE |  | 55426 | 0 | 0 |
| CYBERARK SOFTWARE LTD SHS | COM | M2682V108 |  | 854041 | 2099 | SH |  | SOLE |  | 2099 | 0 | 0 |
| DOLLAR GENL CORP | COM | 256677105 |  | 9294748 | 81262 | SH |  | SOLE |  | 81262 | 0 | 0 |
| DOMINION ENERGY INC COM | COM | 25746U109 |  | 6566623 | 116182 | SH |  | SOLE |  | 116182 | 0 | 0 |
| DOORDASH INC CL A | COM | 25809K105 |  | 12738897 | 51677 | SH |  | SOLE |  | 51677 | 0 | 0 |
| DUKE ENERGY CORP | COM | 26441C204 |  | 8823776 | 74778 | SH |  | SOLE |  | 74778 | 0 | 0 |
| EATON CORP PLC SHS | COM | G29183103 |  | 1285164 | 3600 | SH |  | SOLE |  | 3600 | 0 | 0 |
| ENERGULF RES INC COM | COM | 29266X105 |  | 0 | 24950 | SH |  | SOLE |  | 24950 | 0 | 0 |
| ENTERGY CORP | COM | 29364G103 |  | 6860327 | 82535 | SH |  | SOLE |  | 82535 | 0 | 0 |
| ENTERTAINMENT SHS | COM | 738ESC995 |  | 0 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| EVERGY INC | COM | 30034W106 |  | 10148804 | 147233 | SH |  | SOLE |  | 147233 | 0 | 0 |
| EXELED HLDGS INC COM | COM | 30162U104 |  | 0 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| EXELIXIS INC COM | COM | 30161Q104 |  | 4641979 | 105320 | SH |  | SOLE |  | 105320 | 0 | 0 |
| EXTRA SPACE STORAGE   INC | COM | 30225T102 |  | 9529672 | 64634 | SH |  | SOLE |  | 64634 | 0 | 0 |
| EXXON MOBIL CORP COM | COM | 30231G102 |  | 15618486 | 144884 | SH |  | SOLE |  | 144884 | 0 | 0 |
| F5 NETWORKS INC COM | COM | 315616102 |  | 7761513 | 26371 | SH |  | SOLE |  | 26371 | 0 | 0 |
| FIDELITY NATIONAL       FINANC | COM | 31620R303 |  | 9348707 | 166763 | SH |  | SOLE |  | 166763 | 0 | 0 |
| FINANCIAL               SELECT | COM | 81369Y605 |  | 527760483 | 10077535 | SH |  | SOLE |  | 10077535 | 0 | 0 |
| FIRSTENERGY CORP COM | COM | 337932107 |  | 5064748 | 125801 | SH |  | SOLE |  | 125801 | 0 | 0 |
| FIRSTPLUS FINL GROUP INC COM | COM | 33763B103 |  | 0 | 177000 | SH |  | SOLE |  | 177000 | 0 | 0 |
| FORD MTR CO DEL COM | COM | 345370860 |  | 10331620 | 952223 | SH |  | SOLE |  | 952223 | 0 | 0 |
| FORTINET INC COM | COM | 34959E109 |  | 2151613 | 20352 | SH |  | SOLE |  | 20352 | 0 | 0 |
| GE AEROSPACE COM NEW | COM | 369604301 |  | 31378844 | 121912 | SH |  | SOLE |  | 121912 | 0 | 0 |
| GE VERNOVA LLC | COM | 36828A101 |  | 24778353 | 46827 | SH |  | SOLE |  | 46827 | 0 | 0 |
| GILEAD SCIENCES INC COM | COM | 375558103 |  | 18126852 | 163496 | SH |  | SOLE |  | 163496 | 0 | 0 |
| GRAINGER W W INC | COM | 384802104 |  | 14244161 | 13693 | SH |  | SOLE |  | 13693 | 0 | 0 |
| GUIDEWIRE SOFTWARE INC COM | COM | 40171V100 |  | 8511047 | 36148 | SH |  | SOLE |  | 36148 | 0 | 0 |
| HEALTHCARE              SELECT | COM | 81369Y209 |  | 310814910 | 2305920 | SH |  | SOLE |  | 2305920 | 0 | 0 |
| HINGE HEALTH INC | COM | 433313103 |  | 827793 | 15996 | SH |  | SOLE |  | 15996 | 0 | 0 |
| HOME DEPOT INC COM | COM | 437076102 |  | 24837146 | 67743 | SH |  | SOLE |  | 67743 | 0 | 0 |
| IBIZ TECHNOLOGY CORP NEW | COM | 45103B205 |  | 0 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| INDUSTRIAL              SELECT | COM | 81369Y704 |  | 251552245 | 1705208 | SH |  | SOLE |  | 1705208 | 0 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 1491640 | 17933 | SH |  | SOLE |  | 17933 | 0 | 0 |
| INTERNATIONAL GOLD RES INC COM | COM | 45956C201 |  | 0 | 17150 | SH |  | SOLE |  | 17150 | 0 | 0 |
| INTL BUSINESS MACHINES  CORP | COM | 459200101 |  | 20348139 | 69028 | SH |  | SOLE |  | 69028 | 0 | 0 |
| INTUITIVE SURGICAL INC  NEW | COM | 46120E602 |  | 1350917 | 2486 | SH |  | SOLE |  | 2486 | 0 | 0 |
| INVESCO                 S 50 | COM | 46137V357 |  | 4401902 | 24221 | SH |  | SOLE |  | 24221 | 0 | 0 |
| INVESCO QQQ TR  ETF UNIT SER 1 | COM | 46090E103 |  | 721073217 | 1307145 | SH |  | SOLE |  | 1307145 | 0 | 0 |
| ISHARES                 CORE S | COM | 464287200 |  | 513096187 | 826375 | SH |  | SOLE |  | 826375 | 0 | 0 |
| ISHARES                 RUSSEL | COM | 464287614 |  | 246842851 | 581381 | SH |  | SOLE |  | 581381 | 0 | 0 |
| ISHARES                 RUSSEL | COM | 464287622 |  | 271312248 | 798988 | SH |  | SOLE |  | 798988 | 0 | 0 |
| ISHARES CHINA           LARGE | COM | 464287184 |  | 920507 | 25041 | SH |  | SOLE |  | 25041 | 0 | 0 |
| ISHARES RUSSELL 1000    VALUE | COM | 464287598 |  | 12920452 | 66521 | SH |  | SOLE |  | 66521 | 0 | 0 |
| ISHARES RUSSELL 2000    VALUE | COM | 464287630 |  | 11799488 | 74794 | SH |  | SOLE |  | 74794 | 0 | 0 |
| ISHARES RUSSELL MID CAP GROWTH | COM | 464287481 |  | 14582362 | 105151 | SH |  | SOLE |  | 105151 | 0 | 0 |
| ISHARES TR MSCI EAFE ETF | COM | 464287465 |  | 14418518 | 161299 | SH |  | SOLE |  | 161299 | 0 | 0 |
| ISHARES TR MSCI EMG MKT ETF | COM | 464287234 |  | 13948837 | 289155 | SH |  | SOLE |  | 289155 | 0 | 0 |
| ISHARES TR MSCI USA MMENTM | COM | 46432F396 |  | 220286314 | 916637 | SH |  | SOLE |  | 916637 | 0 | 0 |
| ISHARES TR RUS 2000 GRW ETF | COM | 464287648 |  | 285002 | 997 | SH |  | SOLE |  | 997 | 0 | 0 |
| JACKSON FINANCIAL INC   CL A | COM | 46817M107 |  | 13863386 | 156137 | SH |  | SOLE |  | 156137 | 0 | 0 |
| JACOBS SOLUTIONS INC COM | COM | 46982L108 |  | 12096949 | 92027 | SH |  | SOLE |  | 92027 | 0 | 0 |
| JANUS HENDERSON GROUP PLC ORD | COM | G4474Y214 |  | 7657946 | 197166 | SH |  | SOLE |  | 197166 | 0 | 0 |
| JPMORGAN CHASE  CO. COM | COM | 46625H100 |  | 21747430 | 75014 | SH |  | SOLE |  | 75014 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 8806574 | 505544 | SH |  | SOLE |  | 505544 | 0 | 0 |
| KEYSIGHT TECHNOLOGIES   INC | COM | 49338L103 |  | 3492348 | 21313 | SH |  | SOLE |  | 21313 | 0 | 0 |
| KINDER MORGAN INC DEL COM | COM | 49456B101 |  | 14720820 | 500708 | SH |  | SOLE |  | 500708 | 0 | 0 |
| LEH.BROS.HOLD.INC. | COM | 524ESC100 |  | 0 | 28462 | SH |  | SOLE |  | 28462 | 0 | 0 |
| LINCOLN NATIONAL CORP   IN | COM | 534187109 |  | 10389390 | 300271 | SH |  | SOLE |  | 300271 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 6701698 | 30652 | SH |  | SOLE |  | 30652 | 0 | 0 |
| MASTERCARD INCORPORATED CL A | COM | 57636Q104 |  | 1420717 | 2528 | SH |  | SOLE |  | 2528 | 0 | 0 |
| MCKESSON CORP COM | COM | 58155Q103 |  | 3735757 | 5098 | SH |  | SOLE |  | 5098 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 1272838 | 487 | SH |  | SOLE |  | 487 | 0 | 0 |
| META PLATFORMS INC CL A | COM | 30303M102 |  | 29248497 | 39627 | SH |  | SOLE |  | 39627 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 8581441 | 106708 | SH |  | SOLE |  | 106708 | 0 | 0 |
| MICROSOFT CORP COM | COM | 594918104 |  | 52168116 | 104880 | SH |  | SOLE |  | 104880 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 50976856 | 38067 | SH |  | SOLE |  | 38067 | 0 | 0 |
| NEWPORT DIGITAL TECH INC COM | COM | 651833105 |  | 0 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| NUTRIPURE BEVERAGES INC COM NE | COM | 67074A206 |  | 0 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| NVIDIA CORPORATION COM | COM | 67066G104 |  | 61400077 | 388633 | SH |  | SOLE |  | 388633 | 0 | 0 |
| OLD REPUBLIC INTL CORP | COM | 680223104 |  | 12327477 | 320694 | SH |  | SOLE |  | 320694 | 0 | 0 |
| ONEOK INC | COM | 682680103 |  | 22853955 | 279970 | SH |  | SOLE |  | 279970 | 0 | 0 |
| ORACLE CORP COM | COM | 68389X105 |  | 5101880 | 23336 | SH |  | SOLE |  | 23336 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC CL A | COM | 69608A108 |  | 23738803 | 174140 | SH |  | SOLE |  | 174140 | 0 | 0 |
| Paratek Pharmaceuticals Inc SH | COM | 699CVR031 |  | 0 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| PENUMBRA INC COM | COM | 70975L107 |  | 3731913 | 14542 | SH |  | SOLE |  | 14542 | 0 | 0 |
| PFIZER INC COM | COM | 717081103 |  | 8995052 | 371083 | SH |  | SOLE |  | 371083 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 16820189 | 92353 | SH |  | SOLE |  | 92353 | 0 | 0 |
| PRINCIPAL FINANCIAL GROUP INC | COM | 74251V102 |  | 8943001 | 112590 | SH |  | SOLE |  | 112590 | 0 | 0 |
| QUALCOMM INC COM | COM | 747525103 |  | 5538405 | 34776 | SH |  | SOLE |  | 34776 | 0 | 0 |
| QUANTA SVCS INC COM | COM | 74762E102 |  | 1474552 | 3900 | SH |  | SOLE |  | 3900 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 15952761 | 88809 | SH |  | SOLE |  | 88809 | 0 | 0 |
| ROCKET LAB USA INC COM | COM | 773121108 |  | 2178930 | 60915 | SH |  | SOLE |  | 60915 | 0 | 0 |
| SEAGATE TECHNOLOGY HLDNGS PLC | COM | G7997R103 |  | 26323350 | 182383 | SH |  | SOLE |  | 182383 | 0 | 0 |
| SEI INVESTMENTS CO COM | COM | 784117103 |  | 1882747 | 20952 | SH |  | SOLE |  | 20952 | 0 | 0 |
| SHAKE SHACK INC CL A | COM | 819047101 |  | 2212763 | 15738 | SH |  | SOLE |  | 15738 | 0 | 0 |
| SIMBA ESSEL ENERGY INC COM | COM | 82857V103 |  | 0 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE ET | COM | 78467X109 |  | 234721187 | 532670 | SH |  | SOLE |  | 532670 | 0 | 0 |
| SPDR S 500 ETF | COM | 78462F103 |  | 659320091 | 1067120 | SH |  | SOLE |  | 1067120 | 0 | 0 |
| SPDR SER TR PORTFOLIO S | COM | 78464A854 |  | 220251 | 3030 | SH |  | SOLE |  | 3030 | 0 | 0 |
| SPDR SER TR PRTFLO S GW | COM | 78464A409 |  | 1354999 | 14215 | SH |  | SOLE |  | 14215 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A SHS | COM | L8681T102 |  | 8422324 | 10976 | SH |  | SOLE |  | 10976 | 0 | 0 |
| TAKE-TWO INTERACTIVE COM | COM | 874054109 |  | 12401186 | 51065 | SH |  | SOLE |  | 51065 | 0 | 0 |
| TALEN ENERGY CORP COM | COM | 87422J105 |  | 3140316 | 10800 | SH |  | SOLE |  | 10800 | 0 | 0 |
| TECHNOLOGY              SELECT | COM | 81369Y803 |  | 1218011154 | 4809901 | SH |  | SOLE |  | 4809901 | 0 | 0 |
| TOAST INC               CL A | COM | 888787108 |  | 1316963 | 29735 | SH |  | SOLE |  | 29735 | 0 | 0 |
| TRANSDIGM GROUP INC COM | COM | 893641100 |  | 16105585 | 10591 | SH |  | SOLE |  | 10591 | 0 | 0 |
| UBER TECHNOLOGIES INC COM | COM | 90353T100 |  | 7831135 | 83935 | SH |  | SOLE |  | 83935 | 0 | 0 |
| UNITED PARCEL SERVICE INC CL B | COM | 911312106 |  | 515097 | 5103 | SH |  | SOLE |  | 5103 | 0 | 0 |
| UNIVERSAL HLTH SVCS INC CL B | COM | 913903100 |  | 4021992 | 22203 | SH |  | SOLE |  | 22203 | 0 | 0 |
| UTILITIES               SELECT | COM | 81369Y886 |  | 79736677 | 976447 | SH |  | SOLE |  | 976447 | 0 | 0 |
| VALENTINE BEAUTY INC COM | COM | 91912D107 |  | 0 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| VANGUARD INDEX FDS MID-CAP GRO | COM | 922908538 |  | 3296080 | 11590 | SH |  | SOLE |  | 11590 | 0 | 0 |
| VANGUARD INDEX FDS SMALL CP ET | COM | 922908751 |  | 224221115 | 946160 | SH |  | SOLE |  | 946160 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX FDS | COM | 922042874 |  | 14909992 | 192387 | SH |  | SOLE |  | 192387 | 0 | 0 |
| VANGUARD S 500        INDEX | COM | 922908363 |  | 490808311 | 864054 | SH |  | SOLE |  | 864054 | 0 | 0 |
| VANGUARD VALUE ETF | COM | 922908744 |  | 452761486 | 2561737 | SH |  | SOLE |  | 2561737 | 0 | 0 |
| VANGUARD WORLD FDS INF TECH ET | COM | 92204A702 |  | 454530044 | 685276 | SH |  | SOLE |  | 685276 | 0 | 0 |
| VAPOR GROUP INC COM | COM | 922101100 |  | 0 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| VERIZON COMMUNICATIONS INC COM | COM | 92343V104 |  | 7364728 | 170204 | SH |  | SOLE |  | 170204 | 0 | 0 |
| VERTEX PHARMACEUTICALS  INC | COM | 92532F100 |  | 9792552 | 21996 | SH |  | SOLE |  | 21996 | 0 | 0 |
| VICI PROPERTIES INC | COM | 925652109 |  | 11233903 | 344598 | SH |  | SOLE |  | 344598 | 0 | 0 |
| VIRTUAL ED LINK INC RESTRICTED | COM | 92826J990 |  | 0 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| VISA INC COM CL A | COM | 92826C839 |  | 16674115 | 46963 | SH |  | SOLE |  | 46963 | 0 | 0 |
| WALMART INC COM | COM | 931142103 |  | 2996566 | 30646 | SH |  | SOLE |  | 30646 | 0 | 0 |
| WALT DISNEY CO | COM | 254687106 |  | 7026251 | 56659 | SH |  | SOLE |  | 56659 | 0 | 0 |
| WAYSTAR HLDG CORP COM | COM | 946784105 |  | 2019141 | 49404 | SH |  | SOLE |  | 49404 | 0 | 0 |
| WELLS FARGO CO NEW COM | COM | 949746101 |  | 20382106 | 254395 | SH |  | SOLE |  | 254395 | 0 | 0 |
| WISDOMTREE TR EFFICIENT GLD PL | COM | 97717Y568 |  | 10293000 | 218257 | SH |  | SOLE |  | 218257 | 0 | 0 |
| WISDOMTREE TRUST JP TOTAL DIVI | COM | 97717W851 |  | 1298221 | 11361 | SH |  | SOLE |  | 11361 | 0 | 0 |
| ZSCALER INC COM | COM | 98980G102 |  | 3243942 | 10333 | SH |  | SOLE |  | 10333 | 0 | 0 |

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