# EDGAR Filing Document

**Accession Number:** 0002010278
**File Stem:** 0002010278-25-000007
**Filing Date:** 2025-11
**Character Count:** 22552
**Document Hash:** 2ea1970ca9de0dfbe21b306fb2d02037
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002010278-25-000007.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0002010278-25-000007

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Portfolio Design Labs, LLC
- **CENTRAL INDEX KEY:** 0002010278

**ORGANIZATION NAME:**
- **EIN:** 873864976
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23698
- **FILM NUMBER:** 251471094

**BUSINESS ADDRESS:**
- **STREET 1:** 15760 VENTURA BLVD
- **STREET 2:** SUITE 1700
- **CITY:** ENCINO
- **STATE:** CA
- **ZIP:** 91436
- **BUSINESS PHONE:** 310-755-0411

**MAIL ADDRESS:**
- **STREET 1:** 15760 VENTURA BLVD
- **STREET 2:** SUITE 1700
- **CITY:** ENCINO
- **STATE:** CA
- **ZIP:** 91436

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** Portfolio Design Labs LLC<br>**Address:** 15760 VENTURA BLVD<br>SUITE 1700<br>ENCINO, CA 91436

**Form 13F File Number:** 028-23698

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:** Jason Thomas<br>**Title:** Managing Member<br>**Phone:** 310755

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

Jason Thomas  Encino, CA  11-12-2025<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:** 200

**Form 13F Information Table Value Total:** $582359156

      (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 LABS | COM | 002824100 |  | 2551692 | 19051 | SH |  | SOLE |  | 0 | 0 | 19051 |
| ABBVIE INC | COM | 00287Y109 |  | 2703231 | 11675 | SH |  | SOLE |  | 0 | 0 | 11675 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 1686498 | 6839 | SH |  | SOLE |  | 0 | 0 | 6839 |
| ADOBE INC | COM | 00724F101 |  | 1721068 | 4879 | SH |  | SOLE |  | 0 | 0 | 4879 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 2312790 | 14295 | SH |  | SOLE |  | 0 | 0 | 14295 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 905159 | 3319 | SH |  | SOLE |  | 0 | 0 | 3319 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 259608 | 1068 | SH |  | SOLE |  | 0 | 0 | 1068 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 21111676 | 86683 | SH |  | SOLE |  | 0 | 0 | 86683 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 256313 | 3880 | SH |  | SOLE |  | 0 | 0 | 3880 |
| AMAZON COM INC | COM | 023135106 |  | 18324435 | 83456 | SH |  | SOLE |  | 0 | 0 | 83456 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 1662129 | 5004 | SH |  | SOLE |  | 0 | 0 | 5004 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 1180845 | 6140 | SH |  | SOLE |  | 0 | 0 | 6140 |
| AMETEK INC | COM | 031100100 |  | 1715312 | 9124 | SH |  | SOLE |  | 0 | 0 | 9124 |
| AMGEN INC | COM | 031162100 |  | 1389020 | 4922 | SH |  | SOLE |  | 0 | 0 | 4922 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 2334049 | 18861 | SH |  | SOLE |  | 0 | 0 | 18861 |
| ANALOG DEVICES INC | COM | 032654105 |  | 1716478 | 6986 | SH |  | SOLE |  | 0 | 0 | 6986 |
| APPLE INC | COM | 037833100 |  | 29257567 | 114902 | SH |  | SOLE |  | 0 | 0 | 114902 |
| APPLIED MATLS INC | COM | 038222105 |  | 1957532 | 9561 | SH |  | SOLE |  | 0 | 0 | 9561 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 1570318 | 10777 | SH |  | SOLE |  | 0 | 0 | 10777 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 243301 | 251 | SH |  | SOLE |  | 0 | 0 | 251 |
| ASSURANT INC | COM | 04621X108 |  | 1328423 | 6133 | SH |  | SOLE |  | 0 | 0 | 6133 |
| AT INC | COM | 00206R102 |  | 2617510 | 92688 | SH |  | SOLE |  | 0 | 0 | 92688 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 601894 | 3525 | SH |  | SOLE |  | 0 | 0 | 3525 |
| AUTODESK INC | COM | 052769106 |  | 212522 | 669 | SH |  | SOLE |  | 0 | 0 | 669 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 2259657 | 7699 | SH |  | SOLE |  | 0 | 0 | 7699 |
| AUTOZONE INC | COM | 053332102 |  | 334639 | 78 | SH |  | SOLE |  | 0 | 0 | 78 |
| AVERY DENNISON CORP | COM | 053611109 |  | 224444 | 1384 | SH |  | SOLE |  | 0 | 0 | 1384 |
| BANK AMERICA CORP | COM | 060505104 |  | 2552598 | 49479 | SH |  | SOLE |  | 0 | 0 | 49479 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 257146 | 2360 | SH |  | SOLE |  | 0 | 0 | 2360 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 5587454 | 11114 | SH |  | SOLE |  | 0 | 0 | 11114 |
| BLACKROCK INC | COM | 09290D101 |  | 273980 | 235 | SH |  | SOLE |  | 0 | 0 | 235 |
| BLACKSTONE INC | COM | 09260D107 |  | 1350399 | 7904 | SH |  | SOLE |  | 0 | 0 | 7904 |
| BOEING CO | COM | 097023105 |  | 1208217 | 5598 | SH |  | SOLE |  | 0 | 0 | 5598 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 3107173 | 31826 | SH |  | SOLE |  | 0 | 0 | 31826 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 312273 | 6924 | SH |  | SOLE |  | 0 | 0 | 6924 |
| BROADCOM INC | COM | 11135F101 |  | 13672499 | 41443 | SH |  | SOLE |  | 0 | 0 | 41443 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 249395 | 710 | SH |  | SOLE |  | 0 | 0 | 710 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 1725948 | 8119 | SH |  | SOLE |  | 0 | 0 | 8119 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 226808 | 1445 | SH |  | SOLE |  | 0 | 0 | 1445 |
| CATERPILLAR INC | COM | 149123101 |  | 1509226 | 3163 | SH |  | SOLE |  | 0 | 0 | 3163 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 212632 | 867 | SH |  | SOLE |  | 0 | 0 | 867 |
| CENCORA INC | COM | 03073E105 |  | 825392 | 2641 | SH |  | SOLE |  | 0 | 0 | 2641 |
| CHEVRON CORP NEW | COM | 166764100 |  | 4711404 | 30339 | SH |  | SOLE |  | 0 | 0 | 30339 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 858950 | 9802 | SH |  | SOLE |  | 0 | 0 | 9802 |
| CINTAS CORP | COM | 172908105 |  | 1327630 | 6468 | SH |  | SOLE |  | 0 | 0 | 6468 |
| CISCO SYS INC | COM | 17275R102 |  | 2357070 | 34450 | SH |  | SOLE |  | 0 | 0 | 34450 |
| CITIGROUP INC | COM NEW | 172967424 |  | 1518644 | 14962 | SH |  | SOLE |  | 0 | 0 | 14962 |
| CITIZENS FINL GROUP INC | COM | 174610105 |  | 1580980 | 29740 | SH |  | SOLE |  | 0 | 0 | 29740 |
| CME GROUP INC | COM | 12572Q105 |  | 1214505 | 4495 | SH |  | SOLE |  | 0 | 0 | 4495 |
| CMS ENERGY CORP | COM | 125896100 |  | 1749332 | 23878 | SH |  | SOLE |  | 0 | 0 | 23878 |
| COCA COLA CO | COM | 191216100 |  | 2655122 | 40035 | SH |  | SOLE |  | 0 | 0 | 40035 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 1400155 | 20876 | SH |  | SOLE |  | 0 | 0 | 20876 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 965436 | 12077 | SH |  | SOLE |  | 0 | 0 | 12077 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 1571360 | 16612 | SH |  | SOLE |  | 0 | 0 | 16612 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 845189 | 6276 | SH |  | SOLE |  | 0 | 0 | 6276 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2884264 | 3116 | SH |  | SOLE |  | 0 | 0 | 3116 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 2672082 | 5449 | SH |  | SOLE |  | 0 | 0 | 5449 |
| DANAHER CORPORATION | COM | 235851102 |  | 1466332 | 7396 | SH |  | SOLE |  | 0 | 0 | 7396 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 850719 | 4469 | SH |  | SOLE |  | 0 | 0 | 4469 |
| DEERE  CO | COM | 244199105 |  | 1058558 | 2315 | SH |  | SOLE |  | 0 | 0 | 2315 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 374607 | 6601 | SH |  | SOLE |  | 0 | 0 | 6601 |
| DISNEY WALT CO | COM | 254687106 |  | 1856732 | 16216 | SH |  | SOLE |  | 0 | 0 | 16216 |
| DOORDASH INC | CL A | 25809K105 |  | 1319424 | 4851 | SH |  | SOLE |  | 0 | 0 | 4851 |
| EATON CORP PLC | SHS | G29183103 |  | 2259362 | 6037 | SH |  | SOLE |  | 0 | 0 | 6037 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 232157 | 1151 | SH |  | SOLE |  | 0 | 0 | 1151 |
| ELI LILLY  CO | COM | 532457108 |  | 7803992 | 10228 | SH |  | SOLE |  | 0 | 0 | 10228 |
| EOG RES INC | COM | 26875P101 |  | 1492319 | 13310 | SH |  | SOLE |  | 0 | 0 | 13310 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 1463235 | 11936 | SH |  | SOLE |  | 0 | 0 | 11936 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 5758215 | 51071 | SH |  | SOLE |  | 0 | 0 | 51071 |
| FASTENAL CO | COM | 311900104 |  | 1449427 | 29556 | SH |  | SOLE |  | 0 | 0 | 29556 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 |  | 1445188 | 14265 | SH |  | SOLE |  | 0 | 0 | 14265 |
| FISERV INC | COM | 337738108 |  | 1142966 | 8865 | SH |  | SOLE |  | 0 | 0 | 8865 |
| FORD MTR CO | COM | 345370860 |  | 1878325 | 157050 | SH |  | SOLE |  | 0 | 0 | 157050 |
| FOX CORP | CL B COM | 35137L204 |  | 972957 | 16983 | SH |  | SOLE |  | 0 | 0 | 16983 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 1528576 | 4935 | SH |  | SOLE |  | 0 | 0 | 4935 |
| GE AEROSPACE | COM NEW | 369604301 |  | 3084008 | 10252 | SH |  | SOLE |  | 0 | 0 | 10252 |
| GE VERNOVA INC | COM | 36828A101 |  | 1597511 | 2598 | SH |  | SOLE |  | 0 | 0 | 2598 |
| GENERAL MLS INC | COM | 370334104 |  | 2615287 | 51870 | SH |  | SOLE |  | 0 | 0 | 51870 |
| GENERAL MTRS CO | COM | 37045V100 |  | 1540176 | 25261 | SH |  | SOLE |  | 0 | 0 | 25261 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1348454 | 12148 | SH |  | SOLE |  | 0 | 0 | 12148 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 2076113 | 2607 | SH |  | SOLE |  | 0 | 0 | 2607 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 272273 | 3033 | SH |  | SOLE |  | 0 | 0 | 3033 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 272783 | 2045 | SH |  | SOLE |  | 0 | 0 | 2045 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 1151137 | 4437 | SH |  | SOLE |  | 0 | 0 | 4437 |
| HOME DEPOT INC | COM | 437076102 |  | 2256535 | 5569 | SH |  | SOLE |  | 0 | 0 | 5569 |
| HONEYWELL INTL INC | COM | 438516106 |  | 1182188 | 5616 | SH |  | SOLE |  | 0 | 0 | 5616 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 1481344 | 7549 | SH |  | SOLE |  | 0 | 0 | 7549 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 1671823 | 96805 | SH |  | SOLE |  | 0 | 0 | 96805 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 1243020 | 15045 | SH |  | SOLE |  | 0 | 0 | 15045 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 489435 | 2905 | SH |  | SOLE |  | 0 | 0 | 2905 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1637400 | 5803 | SH |  | SOLE |  | 0 | 0 | 5803 |
| INTUIT | COM | 461202103 |  | 289554 | 424 | SH |  | SOLE |  | 0 | 0 | 424 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1418167 | 3171 | SH |  | SOLE |  | 0 | 0 | 3171 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 278162 | 2605 | SH |  | SOLE |  | 0 | 0 | 2605 |
| ISHARES TR | ESG EAFE ETF | 46436E759 |  | 285237 | 3766 | SH |  | SOLE |  | 0 | 0 | 3766 |
| ISHARES TR | ESG OPTIMIZED MS | 46436E445 |  | 210801 | 7230 | SH |  | SOLE |  | 0 | 0 | 7230 |
| ISHARES TR | CALIF MUN BD ETF | 464288356 |  | 839800 | 14723 | SH |  | SOLE |  | 0 | 0 | 14723 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 7899253 | 66097 | SH |  | SOLE |  | 0 | 0 | 66097 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 9998220 | 96732 | SH |  | SOLE |  | 0 | 0 | 96732 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 11733997 | 123334 | SH |  | SOLE |  | 0 | 0 | 123334 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 12142358 | 146364 | SH |  | SOLE |  | 0 | 0 | 146364 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 |  | 15814349 | 186424 | SH |  | SOLE |  | 0 | 0 | 186424 |
| ISHARES TR | TRS FLT RT BD | 46434V860 |  | 12382105 | 244754 | SH |  | SOLE |  | 0 | 0 | 244754 |
| ISHARES U S ETF TR | SHORT MATURITY M | 46431W838 |  | 5861029 | 116037 | SH |  | SOLE |  | 0 | 0 | 116037 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 5510725 | 29720 | SH |  | SOLE |  | 0 | 0 | 29720 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7186758 | 22784 | SH |  | SOLE |  | 0 | 0 | 22784 |
| KELLANOVA | COM | 487836108 |  | 318156 | 3879 | SH |  | SOLE |  | 0 | 0 | 3879 |
| KEYCORP | COM | 493267108 |  | 217010 | 11611 | SH |  | SOLE |  | 0 | 0 | 11611 |
| KKR  CO INC | COM | 48251W104 |  | 1186318 | 9129 | SH |  | SOLE |  | 0 | 0 | 9129 |
| KLA CORP | COM NEW | 482480100 |  | 271808 | 252 | SH |  | SOLE |  | 0 | 0 | 252 |
| KROGER CO | COM | 501044101 |  | 1122242 | 16648 | SH |  | SOLE |  | 0 | 0 | 16648 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 327095 | 1071 | SH |  | SOLE |  | 0 | 0 | 1071 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 2167307 | 16186 | SH |  | SOLE |  | 0 | 0 | 16186 |
| LENNAR CORP | CL A | 526057104 |  | 1422488 | 11286 | SH |  | SOLE |  | 0 | 0 | 11286 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 277837 | 2660 | SH |  | SOLE |  | 0 | 0 | 2660 |
| LINDE PLC | SHS | G54950103 |  | 2869606 | 6041 | SH |  | SOLE |  | 0 | 0 | 6041 |
| LOWES COS INC | COM | 548661107 |  | 1371651 | 5458 | SH |  | SOLE |  | 0 | 0 | 5458 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 1474861 | 2340 | SH |  | SOLE |  | 0 | 0 | 2340 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 3307063 | 5814 | SH |  | SOLE |  | 0 | 0 | 5814 |
| MCDONALDS CORP | COM | 580135101 |  | 1735676 | 5712 | SH |  | SOLE |  | 0 | 0 | 5712 |
| MCKESSON CORP | COM | 58155Q103 |  | 2431184 | 3147 | SH |  | SOLE |  | 0 | 0 | 3147 |
| MERCK  CO INC | COM | 58933Y105 |  | 1784269 | 21259 | SH |  | SOLE |  | 0 | 0 | 21259 |
| META PLATFORMS INC | CL A | 30303M102 |  | 15151744 | 20632 | SH |  | SOLE |  | 0 | 0 | 20632 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 1930037 | 11535 | SH |  | SOLE |  | 0 | 0 | 11535 |
| MICROSOFT CORP | COM | 594918104 |  | 31051807 | 59951 | SH |  | SOLE |  | 0 | 0 | 59951 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 738833 | 11827 | SH |  | SOLE |  | 0 | 0 | 11827 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1412997 | 8889 | SH |  | SOLE |  | 0 | 0 | 8889 |
| NASDAQ INC | COM | 631103108 |  | 1705051 | 19277 | SH |  | SOLE |  | 0 | 0 | 19277 |
| NETAPP INC | COM | 64110D104 |  | 637552 | 5382 | SH |  | SOLE |  | 0 | 0 | 5382 |
| NETFLIX INC | COM | 64110L106 |  | 6187627 | 5161 | SH |  | SOLE |  | 0 | 0 | 5161 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1456159 | 19289 | SH |  | SOLE |  | 0 | 0 | 19289 |
| NIKE INC | CL B | 654106103 |  | 1270481 | 18220 | SH |  | SOLE |  | 0 | 0 | 18220 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 34170635 | 183142 | SH |  | SOLE |  | 0 | 0 | 183142 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 1569834 | 33224 | SH |  | SOLE |  | 0 | 0 | 33224 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 1336854 | 9496 | SH |  | SOLE |  | 0 | 0 | 9496 |
| ORACLE CORP | COM | 68389X105 |  | 3036685 | 10797 | SH |  | SOLE |  | 0 | 0 | 10797 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 684055 | 6345 | SH |  | SOLE |  | 0 | 0 | 6345 |
| PACKAGING CORP AMER | COM | 695156109 |  | 1426570 | 6546 | SH |  | SOLE |  | 0 | 0 | 6546 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 2662786 | 14597 | SH |  | SOLE |  | 0 | 0 | 14597 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1710409 | 8400 | SH |  | SOLE |  | 0 | 0 | 8400 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 1315400 | 1735 | SH |  | SOLE |  | 0 | 0 | 1735 |
| PAYCHEX INC | COM | 704326107 |  | 1370657 | 10813 | SH |  | SOLE |  | 0 | 0 | 10813 |
| PEPSICO INC | COM | 713448108 |  | 1551479 | 11047 | SH |  | SOLE |  | 0 | 0 | 11047 |
| PFIZER INC | COM | 717081103 |  | 1415288 | 55545 | SH |  | SOLE |  | 0 | 0 | 55545 |
| PG CORP | COM | 69331C108 |  | 373804 | 24788 | SH |  | SOLE |  | 0 | 0 | 24788 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 3540827 | 21830 | SH |  | SOLE |  | 0 | 0 | 21830 |
| PINNACLE WEST CAP CORP | COM | 723484101 |  | 1137248 | 12684 | SH |  | SOLE |  | 0 | 0 | 12684 |
| PPL CORP | COM | 69351T106 |  | 3266030 | 87891 | SH |  | SOLE |  | 0 | 0 | 87891 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 4395313 | 28606 | SH |  | SOLE |  | 0 | 0 | 28606 |
| PROGRESSIVE CORP | COM | 743315103 |  | 1690127 | 6844 | SH |  | SOLE |  | 0 | 0 | 6844 |
| PROLOGIS INC. | COM | 74340W103 |  | 1225861 | 10704 | SH |  | SOLE |  | 0 | 0 | 10704 |
| PROSHARES TR | PSHS ULT S 500 | 74347R107 |  | 11491980 | 102488 | SH |  | SOLE |  | 0 | 0 | 102488 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 259677 | 899 | SH |  | SOLE |  | 0 | 0 | 899 |
| QUALCOMM INC | COM | 747525103 |  | 1782570 | 10715 | SH |  | SOLE |  | 0 | 0 | 10715 |
| QUANTA SVCS INC | COM | 74762E102 |  | 307500 | 742 | SH |  | SOLE |  | 0 | 0 | 742 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 1270402 | 5536 | SH |  | SOLE |  | 0 | 0 | 5536 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 1737436 | 3484 | SH |  | SOLE |  | 0 | 0 | 3484 |
| ROSS STORES INC | COM | 778296103 |  | 1361148 | 8932 | SH |  | SOLE |  | 0 | 0 | 8932 |
| RTX CORPORATION | COM | 75513E101 |  | 3900150 | 23308 | SH |  | SOLE |  | 0 | 0 | 23308 |
| S GLOBAL INC | COM | 78409V104 |  | 1274213 | 2618 | SH |  | SOLE |  | 0 | 0 | 2618 |
| SALESFORCE INC | COM | 79466L302 |  | 2066640 | 8720 | SH |  | SOLE |  | 0 | 0 | 8720 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 1445807 | 15144 | SH |  | SOLE |  | 0 | 0 | 15144 |
| SEI INVTS CO | COM | 784117103 |  | 1510670 | 17804 | SH |  | SOLE |  | 0 | 0 | 17804 |
| SEMPRA | COM | 816851109 |  | 484903 | 5389 | SH |  | SOLE |  | 0 | 0 | 5389 |
| SERVICENOW INC | COM | 81762P102 |  | 1385942 | 1506 | SH |  | SOLE |  | 0 | 0 | 1506 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 37432414 | 105304 | SH |  | SOLE |  | 0 | 0 | 105304 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 3017291 | 32886 | SH |  | SOLE |  | 0 | 0 | 32886 |
| STARBUCKS CORP | COM | 855244109 |  | 1008796 | 11924 | SH |  | SOLE |  | 0 | 0 | 11924 |
| STRYKER CORPORATION | COM | 863667101 |  | 1526369 | 4129 | SH |  | SOLE |  | 0 | 0 | 4129 |
| SYNOPSYS INC | COM | 871607107 |  | 1013917 | 2055 | SH |  | SOLE |  | 0 | 0 | 2055 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 740150 | 2650 | SH |  | SOLE |  | 0 | 0 | 2650 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 205700 | 937 | SH |  | SOLE |  | 0 | 0 | 937 |
| TELEDYNE TECHNOLOGIES INC | COM | 879360105 |  | 339904 | 580 | SH |  | SOLE |  | 0 | 0 | 580 |
| TEXAS INSTRS INC | COM | 882508104 |  | 1311466 | 7138 | SH |  | SOLE |  | 0 | 0 | 7138 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 327150 | 1969 | SH |  | SOLE |  | 0 | 0 | 1969 |
| THE CIGNA GROUP | COM | 125523100 |  | 206387 | 716 | SH |  | SOLE |  | 0 | 0 | 716 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1373092 | 2831 | SH |  | SOLE |  | 0 | 0 | 2831 |
| TJX COS INC NEW | COM | 872540109 |  | 4785444 | 33108 | SH |  | SOLE |  | 0 | 0 | 33108 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 212866 | 1054 | SH |  | SOLE |  | 0 | 0 | 1054 |
| T-MOBILE US INC | COM | 872590104 |  | 4098990 | 17123 | SH |  | SOLE |  | 0 | 0 | 17123 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 1028748 | 2438 | SH |  | SOLE |  | 0 | 0 | 2438 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 676446 | 1293 | SH |  | SOLE |  | 0 | 0 | 1293 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1470726 | 15012 | SH |  | SOLE |  | 0 | 0 | 15012 |
| UNION PAC CORP | COM | 907818108 |  | 203279 | 860 | SH |  | SOLE |  | 0 | 0 | 860 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 569257 | 6815 | SH |  | SOLE |  | 0 | 0 | 6815 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2630192 | 7617 | SH |  | SOLE |  | 0 | 0 | 7617 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 204963 | 688 | SH |  | SOLE |  | 0 | 0 | 688 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 348168 | 889 | SH |  | SOLE |  | 0 | 0 | 889 |
| VICI PPTYS INC | COM | 925652109 |  | 296719 | 9099 | SH |  | SOLE |  | 0 | 0 | 9099 |
| VISA INC | COM CL A | 92826C839 |  | 7482039 | 21917 | SH |  | SOLE |  | 0 | 0 | 21917 |
| VISTRA CORP | COM | 92840M102 |  | 1285040 | 6559 | SH |  | SOLE |  | 0 | 0 | 6559 |
| VULCAN MATLS CO | COM | 929160109 |  | 215642 | 701 | SH |  | SOLE |  | 0 | 0 | 701 |
| WALMART INC | COM | 931142103 |  | 3062240 | 29713 | SH |  | SOLE |  | 0 | 0 | 29713 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 1515029 | 13221 | SH |  | SOLE |  | 0 | 0 | 13221 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 2564744 | 30598 | SH |  | SOLE |  | 0 | 0 | 30598 |
| WELLTOWER INC | COM | 95040Q104 |  | 3741313 | 21002 | SH |  | SOLE |  | 0 | 0 | 21002 |
| WILLIAMS COS INC | COM | 969457100 |  | 210196 | 3318 | SH |  | SOLE |  | 0 | 0 | 3318 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 |  | 883797 | 17581 | SH |  | SOLE |  | 0 | 0 | 17581 |
| WORKDAY INC | CL A | 98138H101 |  | 210880 | 876 | SH |  | SOLE |  | 0 | 0 | 876 |
| ZOETIS INC | CL A | 98978V103 |  | 229577 | 1569 | SH |  | SOLE |  | 0 | 0 | 1569 |

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