# EDGAR Filing Document

**Accession Number:** 0000939219
**File Stem:** 0000939219-26-000002
**Filing Date:** 2026-1
**Character Count:** 27738
**Document Hash:** e14191322dfd2755946e684f70b812d6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000939219-26-000002.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000939219-26-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**EFFECTIVENESS DATE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEE DANNER & BASS INC
- **CENTRAL INDEX KEY:** 0000939219

**ORGANIZATION NAME:**
- **EIN:** 621327844
- **STATE OF INCORPORATION:** TN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-04806
- **FILM NUMBER:** 26576984

**BUSINESS ADDRESS:**
- **STREET 1:** 3100 WEST END AVENUE
- **STREET 2:** SUITE 1250
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203
- **BUSINESS PHONE:** 6152447775

**MAIL ADDRESS:**
- **STREET 1:** 3100 WEST END AVENUE
- **STREET 2:** SUITE 1250
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEE DANNER & BASS INC/
- **DATE OF NAME CHANGE:** 19990325

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** LEE DANNER  BASS INC<br>**Address:** 3100 WEST END AVENUE<br>SUITE 1250<br>NASHVILLE, TN 37203

**Form 13F File Number:** 028-04806

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:** Mark Smith<br>**Title:** Secretary/Treasurer<br>**Phone:** 6152447775

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

Mark Smith  Nashville, TN  01-29-2026<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:** 234

**Form 13F Information Table Value Total:** $1395310705

      (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 |
| AMAZON.COM INC. | Stock | 023135106 |  | 35856964 | 155346 | SH |  | SOLE | 0 | 0 | 0 | 155346 |
| HEWLETT PACKARD ENTERPRISE CO. | Stock | 42824C109 |  | 1166988 | 48584 | SH |  | SOLE | 0 | 0 | 0 | 48584 |
| INVESCO QQQ TRUST SERIES I | ETF | 46090E103 |  | 403602 | 657 | SH |  | SOLE | 0 | 0 | 0 | 657 |
| TECHNOLOGY SELECT SECTOR SPDR FUND | ETF | 81369Y803 |  | 343351 | 2385 | SH |  | SOLE | 0 | 0 | 0 | 2384 |
| STARBUCKS CORPORATION | Stock | 855244109 |  | 3950712 | 46915 | SH |  | SOLE | 0 | 0 | 0 | 46915 |
| SEMPRA | Stock | 816851109 |  | 6478455 | 73377 | SH |  | SOLE | 0 | 0 | 0 | 73377 |
| PAN AMERICAN SILVER CORP. | Stock | 697900108 |  | 673530 | 13000 | SH |  | SOLE | 0 | 0 | 0 | 13000 |
| VULCAN MATERIALS COMPANY | Stock | 929160109 |  | 1863057 | 6532 | SH |  | SOLE | 0 | 0 | 0 | 6532 |
| JOHNSON  JOHNSON | Stock | 478160104 |  | 21400430 | 103409 | SH |  | SOLE | 0 | 0 | 0 | 103408 |
| VANGUARD TOTAL STOCK MARKET ETF | ETF | 922908769 |  | 964907 | 2878 | SH |  | SOLE | 0 | 0 | 0 | 2878 |
| COSTCO WHOLESALE CORPORATION | Stock | 22160K105 |  | 2371435 | 2750 | SH |  | SOLE | 0 | 0 | 0 | 2750 |
| CLEVELAND-CLIFFS INC | Stock | 185899101 |  | 3612160 | 272000 | SH |  | SOLE | 0 | 0 | 0 | 272000 |
| HCA HEALTHCARE INC | Stock | 40412C101 |  | 181083789 | 387876 | SH |  | SOLE | 0 | 0 | 0 | 387876 |
| ISHARES MSCI EMERGING MARKETS ETF | ETF | 464287234 |  | 1994727 | 36460 | SH |  | SOLE | 0 | 0 | 0 | 36460 |
| GOLDMAN SACHS GROUP INC. | Stock | 38141G104 |  | 30872018 | 35122 | SH |  | SOLE | 0 | 0 | 0 | 35121 |
| TOYOTA MOTOR CORP. SPONSORED ADR | ADR | 892331307 |  | 538789 | 2517 | SH |  | SOLE | 0 | 0 | 0 | 2517 |
| SHELL PLC SPONSORED ADR | ADR | 780259305 |  | 1006896 | 13703 | SH |  | SOLE | 0 | 0 | 0 | 13703 |
| TELEDYNE TECHNOLOGIES INCORPORATED | Stock | 879360105 |  | 432588 | 847 | SH |  | SOLE | 0 | 0 | 0 | 847 |
| VIASAT INC. | Stock | 92552V100 |  | 8770070 | 254500 | SH |  | SOLE | 0 | 0 | 0 | 254500 |
| PROCTER  GAMBLE COMPANY | Stock | 742718109 |  | 12281186 | 85697 | SH |  | SOLE | 0 | 0 | 0 | 85696 |
| COCA-COLA COMPANY | Stock | 191216100 |  | 5082351 | 72698 | SH |  | SOLE | 0 | 0 | 0 | 72698 |
| GENERAL MILLS INC. | Stock | 370334104 |  | 610406 | 13127 | SH |  | SOLE | 0 | 0 | 0 | 13127 |
| TRUIST FINANCIAL CORPORATION | Stock | 89832Q109 |  | 2966379 | 60280 | SH |  | SOLE | 0 | 0 | 0 | 60280 |
| UNITED PARCEL SERVICE INC. CLASS B | Stock | 911312106 |  | 12212126 | 123119 | SH |  | SOLE | 0 | 0 | 0 | 123118 |
| VANGUARD REAL ESTATE ETF | ETF | 922908553 |  | 224189 | 2534 | SH |  | SOLE | 0 | 0 | 0 | 2533 |
| INTEL CORPORATION | Stock | 458140100 |  | 8486734 | 229993 | SH |  | SOLE | 0 | 0 | 0 | 229992 |
| MEDTRONIC PLC | Stock | G5960L103 |  | 10859868 | 113053 | SH |  | SOLE | 0 | 0 | 0 | 113052 |
| MEDICAL PROPERTIES TRUST INC. | REIT | 58463J304 |  | 113195 | 22639 | SH |  | SOLE | 0 | 0 | 0 | 22639 |
| PROLOGIS INC. | REIT | 74340W103 |  | 451278 | 3535 | SH |  | SOLE | 0 | 0 | 0 | 3535 |
| MERCK  CO. INC. | Stock | 58933Y105 |  | 9398184 | 89285 | SH |  | SOLE | 0 | 0 | 0 | 89285 |
| STATE STR SPDR S 500 ETF TR TR UNIT | ETF | 78462F103 |  | 1917510 | 2812 | SH |  | SOLE | 0 | 0 | 0 | 2811 |
| MCKESSON CORPORATION | Stock | 58155Q103 |  | 2067131 | 2520 | SH |  | SOLE | 0 | 0 | 0 | 2520 |
| MASTERCARD INCORPORATED CLASS A | Stock | 57636Q104 |  | 555310 | 973 | SH |  | SOLE | 0 | 0 | 0 | 972 |
| UNITED RENTALS INC. | Stock | 911363109 |  | 26242201 | 32425 | SH |  | SOLE | 0 | 0 | 0 | 32425 |
| EMERSON ELECTRIC CO. | Stock | 291011104 |  | 477527 | 3598 | SH |  | SOLE | 0 | 0 | 0 | 3598 |
| ALLSTATE CORPORATION | Stock | 020002101 |  | 1345898 | 6466 | SH |  | SOLE | 0 | 0 | 0 | 6466 |
| NATIONAL HEALTH INVESTORS INC. | REIT | 63633D104 |  | 3911671 | 51220 | SH |  | SOLE | 0 | 0 | 0 | 51220 |
| DIAGEO PLC SPONSORED ADR | ADR | 25243Q205 |  | 1989711 | 23064 | SH |  | SOLE | 0 | 0 | 0 | 23063 |
| MICROBOT MED INC COM NEW | Stock | 59503A204 |  | 20500 | 10250 | SH |  | SOLE | 0 | 0 | 0 | 10250 |
| EDWARDS LIFESCIENCES CORPORATION | Stock | 28176E108 |  | 475354 | 5576 | SH |  | SOLE | 0 | 0 | 0 | 5576 |
| TEGNA INC. | Stock | 87901J105 |  | 5922282 | 305115 | SH |  | SOLE | 0 | 0 | 0 | 305115 |
| VERIZON COMMUNICATIONS INC. | Stock | 92343V104 |  | 241605 | 5932 | SH |  | SOLE | 0 | 0 | 0 | 5931 |
| FEDEX CORPORATION | Stock | 31428X106 |  | 17175515 | 59460 | SH |  | SOLE | 0 | 0 | 0 | 59459 |
| PEPSICO INC. | Stock | 713448108 |  | 2045691 | 14254 | SH |  | SOLE | 0 | 0 | 0 | 14253 |
| ISHARES 1-3 YEAR TREASURY BOND ETF | ETF | 464287457 |  | 411201 | 4965 | SH |  | SOLE | 0 | 0 | 0 | 4965 |
| DXC TECHNOLOGY CO. | Stock | 23355L106 |  | 802835 | 54801 | SH |  | SOLE | 0 | 0 | 0 | 54801 |
| TE CONNECTIVITY PLC | Stock | G87052109 |  | 430904 | 1894 | SH |  | SOLE | 0 | 0 | 0 | 1894 |
| HONEYWELL INTERNATIONAL INC. | Stock | 438516106 |  | 7832961 | 40151 | SH |  | SOLE | 0 | 0 | 0 | 40150 |
| U.S. BANCORP | Stock | 902973304 |  | 2670721 | 50051 | SH |  | SOLE | 0 | 0 | 0 | 50051 |
| BP PLC SPONSORED ADR | ADR | 055622104 |  | 2733198 | 78698 | SH |  | SOLE | 0 | 0 | 0 | 78698 |
| HOME DEPOT INC. | Stock | 437076102 |  | 8739108 | 25397 | SH |  | SOLE | 0 | 0 | 0 | 25397 |
| HEALTH CARE SELECT SECTOR SPDR FUND | ETF | 81369Y209 |  | 337774 | 2182 | SH |  | SOLE | 0 | 0 | 0 | 2182 |
| SPDR GOLD SHARES | ETF | 78463V107 |  | 2014840 | 5084 | SH |  | SOLE | 0 | 0 | 0 | 5084 |
| SOUTHERN COMPANY | Stock | 842587107 |  | 428999 | 4920 | SH |  | SOLE | 0 | 0 | 0 | 4919 |
| REGIONS FINANCIAL CORPORATION | Stock | 7591EP100 |  | 7027030 | 259300 | SH |  | SOLE | 0 | 0 | 0 | 259300 |
| ISHARES RUSSELL 1000 GROWTH ETF | ETF | 464287614 |  | 2567179 | 5424 | SH |  | SOLE | 0 | 0 | 0 | 5424 |
| SCHWAB U.S. LARGE-CAP ETF | ETF | 808524201 |  | 239311 | 8893 | SH |  | SOLE | 0 | 0 | 0 | 8893 |
| RIMINI STREET INC CLASS A | Stock | 76674Q107 |  | 77600 | 20000 | SH |  | SOLE | 0 | 0 | 0 | 20000 |
| LUMEN TECHNOLOGIES INC. | Stock | 550241103 |  | 579137 | 74535 | SH |  | SOLE | 0 | 0 | 0 | 74535 |
| ATMOS ENERGY CORPORATION | Stock | 049560105 |  | 218590 | 1304 | SH |  | SOLE | 0 | 0 | 0 | 1304 |
| STATE STREET SPDR PORTFOLIO SHORT TERM CORPORATE BOND ETF | ETF | 78464A474 |  | 400150 | 13250 | SH |  | SOLE | 0 | 0 | 0 | 13250 |
| CORECIVIC INC. | Stock | 21871N101 |  | 11132683 | 582558 | SH |  | SOLE | 0 | 0 | 0 | 582558 |
| ISHARES CORE S SMALL CAP ETF | ETF | 464287804 |  | 4317840 | 35928 | SH |  | SOLE | 0 | 0 | 0 | 35928 |
| BERKSHIRE HATHAWAY INC. CLASS B | Stock | 084670702 |  | 133083021 | 264763 | SH |  | SOLE | 0 | 0 | 0 | 264762 |
| ADOBE INC. | Stock | 00724F101 |  | 2056191 | 5875 | SH |  | SOLE | 0 | 0 | 0 | 5875 |
| VANGUARD SHORT-TERM CORPORATE BOND ETF | ETF | 92206C409 |  | 210009 | 2634 | SH |  | SOLE | 0 | 0 | 0 | 2634 |
| ALPHABET INC. CLASS A | Stock | 02079K305 |  | 6104752 | 19504 | SH |  | SOLE | 0 | 0 | 0 | 19504 |
| ISHARES MSCI PACIFIC EX-JAPAN ETF | ETF | 464286665 |  | 1061132 | 21025 | SH |  | SOLE | 0 | 0 | 0 | 21025 |
| FISERV INC. | Stock | 337738108 |  | 3056437 | 45503 | SH |  | SOLE | 0 | 0 | 0 | 45503 |
| INTUIT INC. | Stock | 461202103 |  | 780993 | 1179 | SH |  | SOLE | 0 | 0 | 0 | 1179 |
| HALLIBURTON COMPANY | Stock | 406216101 |  | 6888234 | 243745 | SH |  | SOLE | 0 | 0 | 0 | 243745 |
| CONSTELLATION BRANDS INC. CLASS A | Stock | 21036P108 |  | 1001038 | 7256 | SH |  | SOLE | 0 | 0 | 0 | 7256 |
| NEWMONT CORPORATION | Stock | 651639106 |  | 238642 | 2390 | SH |  | SOLE | 0 | 0 | 0 | 2390 |
| COMCAST CORPORATION CLASS A | Stock | 20030N101 |  | 1831955 | 61290 | SH |  | SOLE | 0 | 0 | 0 | 61289 |
| MICROSOFT CORPORATION | Stock | 594918104 |  | 46096516 | 95316 | SH |  | SOLE | 0 | 0 | 0 | 95315 |
| VALERO ENERGY CORPORATION | Stock | 91913Y100 |  | 670369 | 4118 | SH |  | SOLE | 0 | 0 | 0 | 4118 |
| HEALTHPEAK PROPERTIES INC. | REIT | 42250P103 |  | 324221 | 20163 | SH |  | SOLE | 0 | 0 | 0 | 20163 |
| SCHLUMBERGER LIMITED | Stock | 806857108 |  | 4940427 | 128724 | SH |  | SOLE | 0 | 0 | 0 | 128724 |
| CVS HEALTH CORPORATION | Stock | 126650100 |  | 3932685 | 49555 | SH |  | SOLE | 0 | 0 | 0 | 49555 |
| JEFFERIES FINANCIAL GROUP INC. | Stock | 47233W109 |  | 5193768 | 83811 | SH |  | SOLE | 0 | 0 | 0 | 83811 |
| CUSHMAN AND WAKEFIELD LTD COMMON SHARES | Stock | G2717C106 |  | 242850 | 15000 | SH |  | SOLE | 0 | 0 | 0 | 15000 |
| NEXTERA ENERGY INC. | Stock | 65339F101 |  | 771892 | 9615 | SH |  | SOLE | 0 | 0 | 0 | 9615 |
| BERKSHIRE HATHAWAY INC. CLASS A | Stock | 084670108 |  | 1509600 | 2 | SH |  | SOLE | 0 | 0 | 0 | 2 |
| GEO GROUP INC | Stock | 36162J106 |  | 4279860 | 265500 | SH |  | SOLE | 0 | 0 | 0 | 265500 |
| BOEING COMPANY | Stock | 097023105 |  | 6115213 | 28165 | SH |  | SOLE | 0 | 0 | 0 | 28165 |
| VANGUARD SMALL-CAP ETF | ETF | 922908751 |  | 1021482 | 3960 | SH |  | SOLE | 0 | 0 | 0 | 3960 |
| VANGUARD MID-CAP ETF | ETF | 922908629 |  | 704364 | 2427 | SH |  | SOLE | 0 | 0 | 0 | 2427 |
| VANGUARD LARGE-CAP ETF | ETF | 922908637 |  | 1287072 | 4089 | SH |  | SOLE | 0 | 0 | 0 | 4088 |
| NIKE INC. CLASS B | Stock | 654106103 |  | 4195049 | 65846 | SH |  | SOLE | 0 | 0 | 0 | 65846 |
| TESLA INC. | Stock | 88160R101 |  | 263986 | 587 | SH |  | SOLE | 0 | 0 | 0 | 587 |
| VANGUARD HEALTH CARE ETF | ETF | 92204A504 |  | 363132 | 1262 | SH |  | SOLE | 0 | 0 | 0 | 1261 |
| NORFOLK SOUTHERN CORPORATION | Stock | 655844108 |  | 744609 | 2579 | SH |  | SOLE | 0 | 0 | 0 | 2579 |
| TEJON RANCH CO. | Stock | 879080109 |  | 906775 | 57500 | SH |  | SOLE | 0 | 0 | 0 | 57500 |
| BROOKFIELD CORPORATION | Stock | 11271J107 |  | 6837518 | 148998 | SH |  | SOLE | 0 | 0 | 0 | 148998 |
| FOX CORPORATION CLASS A | Stock | 35137L105 |  | 730919 | 10003 | SH |  | SOLE | 0 | 0 | 0 | 10003 |
| FOX CORPORATION CLASS B | Stock | 35137L204 |  | 371075 | 5715 | SH |  | SOLE | 0 | 0 | 0 | 5715 |
| KKR  CO INC | Stock | 48251W104 |  | 2214455 | 17371 | SH |  | SOLE | 0 | 0 | 0 | 17371 |
| VANGUARD S 500 ETF | ETF | 922908363 |  | 540586 | 862 | SH |  | SOLE | 0 | 0 | 0 | 862 |
| SPDR S MIDCAP 400 ETF TRUST | ETF | 78467Y107 |  | 558034 | 925 | SH |  | SOLE | 0 | 0 | 0 | 925 |
| KINROSS GOLD CORPORATION | Stock | 496902404 |  | 557005 | 19780 | SH |  | SOLE | 0 | 0 | 0 | 19780 |
| ELI LILLY AND COMPANY | Stock | 532457108 |  | 640509 | 596 | SH |  | SOLE | 0 | 0 | 0 | 596 |
| NOV INC. | Stock | 62955J103 |  | 2825904 | 180800 | SH |  | SOLE | 0 | 0 | 0 | 180800 |
| ISHARES RUSSELL 2000 ETF | ETF | 464287655 |  | 755219 | 3068 | SH |  | SOLE | 0 | 0 | 0 | 3068 |
| DUKE ENERGY CORPORATION | Stock | 26441C204 |  | 2398878 | 20467 | SH |  | SOLE | 0 | 0 | 0 | 20466 |
| CARRIER GLOBAL CORP. | Stock | 14448C104 |  | 1735688 | 32848 | SH |  | SOLE | 0 | 0 | 0 | 32848 |
| SYSCO CORPORATION | Stock | 871829107 |  | 13336403 | 180980 | SH |  | SOLE | 0 | 0 | 0 | 180979 |
| ISHARES FLOATING RATE BOND ETF | ETF | 46429B655 |  | 236092 | 4642 | SH |  | SOLE | 0 | 0 | 0 | 4642 |
| BROOKDALE SENIOR LIVING INC. | Stock | 112463104 |  | 4063352 | 376585 | SH |  | SOLE | 0 | 0 | 0 | 376585 |
| ISHARES SELECT DIVIDEND ETF | ETF | 464287168 |  | 440357 | 3120 | SH |  | SOLE | 0 | 0 | 0 | 3120 |
| MARATHON PETROLEUM CORPORATION | Stock | 56585A102 |  | 508219 | 3125 | SH |  | SOLE | 0 | 0 | 0 | 3125 |
| PINNACLE FINANCIAL PARTNERS INC. | Stock | 72348N109 |  | 20217093 | 211897 | SH |  | SOLE | 0 | 0 | 0 | 211897 |
| TRACTOR SUPPLY COMPANY | Stock | 892356106 |  | 687387 | 13745 | SH |  | SOLE | 0 | 0 | 0 | 13745 |
| VISA INC. CLASS A | Stock | 92826C839 |  | 22494715 | 64141 | SH |  | SOLE | 0 | 0 | 0 | 64140 |
| VANGUARD SMALL-CAP GROWTH ETF | ETF | 922908595 |  | 632039 | 2092 | SH |  | SOLE | 0 | 0 | 0 | 2092 |
| VANGUARD GROWTH ETF | ETF | 922908736 |  | 666417 | 1366 | SH |  | SOLE | 0 | 0 | 0 | 1366 |
| L3HARRIS TECHNOLOGIES INC | Stock | 502431109 |  | 640276 | 2181 | SH |  | SOLE | 0 | 0 | 0 | 2181 |
| PHILLIPS 66 | Stock | 718546104 |  | 1164328 | 9023 | SH |  | SOLE | 0 | 0 | 0 | 9023 |
| IRON MOUNTAIN INC. | REIT | 46284V101 |  | 5409004 | 65208 | SH |  | SOLE | 0 | 0 | 0 | 65208 |
| SIMPLIFY HEALTH CARE ETF | ETF | 82889N772 |  | 5879863 | 160652 | SH |  | SOLE | 0 | 0 | 0 | 160652 |
| VANECK OIL SERVICES ETF | ETF | 92189H607 |  | 2381532 | 8363 | SH |  | SOLE | 0 | 0 | 0 | 8363 |
| META PLATFORMS INC CLASS A | Stock | 30303M102 |  | 14477754 | 21933 | SH |  | SOLE | 0 | 0 | 0 | 21933 |
| CAPITAL GROUP CORE EQUITY ETF | ETF | 14020V108 |  | 292673 | 7275 | SH |  | SOLE | 0 | 0 | 0 | 7275 |
| AMERICAN AIRLINES GROUP INC. | Stock | 02376R102 |  | 274775 | 17924 | SH |  | SOLE | 0 | 0 | 0 | 17924 |
| ADAMS DIVERSIFIED EQUITY FUND INC SHS | CEF | 006212104 |  | 583000 | 25000 | SH |  | SOLE | 0 | 0 | 0 | 25000 |
| PALO ALTO NETWORKS INC. | Stock | 697435105 |  | 2714003 | 14734 | SH |  | SOLE | 0 | 0 | 0 | 14734 |
| O-I GLASS INC | Stock | 67098H104 |  | 1395647 | 94556 | SH |  | SOLE | 0 | 0 | 0 | 94556 |
| MONDELEZ INTERNATIONAL INC. CLASS A | Stock | 609207105 |  | 9865871 | 183278 | SH |  | SOLE | 0 | 0 | 0 | 183278 |
| ADT INC. | Stock | 00090Q103 |  | 4487687 | 556095 | SH |  | SOLE | 0 | 0 | 0 | 556095 |
| BROADCOM INC. | Stock | 11135F101 |  | 1247691 | 3605 | SH |  | SOLE | 0 | 0 | 0 | 3605 |
| JOHNSON CONTROLS INTERNATIONAL PLC | Stock | G51502105 |  | 241775 | 2019 | SH |  | SOLE | 0 | 0 | 0 | 2019 |
| ISHARES CORE MSCI TOTAL INTERNATIONAL STOCK ETF | ETF | 46432F834 |  | 245456 | 2900 | SH |  | SOLE | 0 | 0 | 0 | 2900 |
| NOVARTIS AG SPONSORED ADR | ADR | 66987V109 |  | 959437 | 6959 | SH |  | SOLE | 0 | 0 | 0 | 6959 |
| ISHARES CORE MSCI EAFE ETF | ETF | 46432F842 |  | 259881 | 2905 | SH |  | SOLE | 0 | 0 | 0 | 2905 |
| BROOKFIELD ASSET MANAGEMENT LTD. CLASS A | Stock | 113004105 |  | 3399220 | 64883 | SH |  | SOLE | 0 | 0 | 0 | 64883 |
| WHITE MOUNTAINS INSURANCE GROUP LTD | Stock | G9618E107 |  | 6448127 | 3103 | SH |  | SOLE | 0 | 0 | 0 | 3103 |
| ACCENTURE PLC CLASS A | Stock | G1151C101 |  | 27790256 | 103579 | SH |  | SOLE | 0 | 0 | 0 | 103579 |
| VITESSE ENERGY INC. | Stock | 92852X103 |  | 4496632 | 233470 | SH |  | SOLE | 0 | 0 | 0 | 233470 |
| NVIDIA CORPORATION | Stock | 67066G104 |  | 14411788 | 77275 | SH |  | SOLE | 0 | 0 | 0 | 77275 |
| OWENS CORNING | Stock | 690742101 |  | 1269955 | 11348 | SH |  | SOLE | 0 | 0 | 0 | 11348 |
| ABBVIE INC. | Stock | 00287Y109 |  | 4766198 | 20860 | SH |  | SOLE | 0 | 0 | 0 | 20859 |
| SUNCOKE ENERGY INC. | Stock | 86722A103 |  | 129600 | 18000 | SH |  | SOLE | 0 | 0 | 0 | 18000 |
| ZOETIS INC. CLASS A | Stock | 98978V103 |  | 3106370 | 24689 | SH |  | SOLE | 0 | 0 | 0 | 24689 |
| BLACKSTONE INC. | Stock | 09260D107 |  | 252481 | 1638 | SH |  | SOLE | 0 | 0 | 0 | 1638 |
| ZIMMER BIOMET HOLDINGS INC. | Stock | 98956P102 |  | 210053 | 2336 | SH |  | SOLE | 0 | 0 | 0 | 2336 |
| STRYKER CORPORATION | Stock | 863667101 |  | 5032172 | 14318 | SH |  | SOLE | 0 | 0 | 0 | 14317 |
| GENERAL DYNAMICS CORPORATION | Stock | 369550108 |  | 354760 | 1054 | SH |  | SOLE | 0 | 0 | 0 | 1053 |
| MCDONALD'S CORPORATION | Stock | 580135101 |  | 4087243 | 13373 | SH |  | SOLE | 0 | 0 | 0 | 13373 |
| CISCO SYSTEMS INC. | Stock | 17275R102 |  | 6218565 | 80729 | SH |  | SOLE | 0 | 0 | 0 | 80729 |
| TAPESTRY INC. | Stock | 876030107 |  | 2961325 | 23177 | SH |  | SOLE | 0 | 0 | 0 | 23177 |
| CAPITAL ONE FINANCIAL CORP | Stock | 14040H105 |  | 331306 | 1367 | SH |  | SOLE | 0 | 0 | 0 | 1367 |
| ISHARES RUSSELL MIDCAP ETF | ETF | 464287499 |  | 843903 | 8766 | SH |  | SOLE | 0 | 0 | 0 | 8766 |
| APA CORPORATION | Stock | 03743Q108 |  | 1408676 | 57591 | SH |  | SOLE | 0 | 0 | 0 | 57591 |
| CORE SCIENTIFIC INC | Stock | 21874A106 |  | 405481 | 27849 | SH |  | SOLE | 0 | 0 | 0 | 27849 |
| CORE SCIENTIFIC INC NEW WT EXP 012327 | Stock | 21874A114 |  | 170740 | 20182 | SH |  | SOLE | 0 | 0 | 0 | 20182 |
| AT INC | Stock | 00206R102 |  | 2160310 | 86969 | SH |  | SOLE | 0 | 0 | 0 | 86969 |
| GE VERNOVA INC. | Stock | 36828A101 |  | 517627 | 792 | SH |  | SOLE | 0 | 0 | 0 | 792 |
| MATERIALS SELECT SECTOR SPDR FUND | ETF | 81369Y100 |  | 1533646 | 33818 | SH |  | SOLE | 0 | 0 | 0 | 33818 |
| HENRY SCHEIN INC. | Stock | 806407102 |  | 3882545 | 51370 | SH |  | SOLE | 0 | 0 | 0 | 51370 |
| GE AEROSPACE | Stock | 369604301 |  | 988468 | 3209 | SH |  | SOLE | 0 | 0 | 0 | 3209 |
| SPDR S REGIONAL BANKING ETF | ETF | 78464A698 |  | 434227 | 6700 | SH |  | SOLE | 0 | 0 | 0 | 6700 |
| INDUSTRIAL SELECT SECTOR SPDR FUND | ETF | 81369Y704 |  | 259516 | 1673 | SH |  | SOLE | 0 | 0 | 0 | 1673 |
| ALAMOS GOLD INC. | Stock | 011532108 |  | 771600 | 20000 | SH |  | SOLE | 0 | 0 | 0 | 20000 |
| ISHARES CORE S 500 ETF | ETF | 464287200 |  | 2016675 | 2944 | SH |  | SOLE | 0 | 0 | 0 | 2944 |
| CIGNA GROUP | Stock | 125523100 |  | 341560 | 1241 | SH |  | SOLE | 0 | 0 | 0 | 1241 |
| WELLS FARGO  COMPANY | Stock | 949746101 |  | 5230477 | 56121 | SH |  | SOLE | 0 | 0 | 0 | 56121 |
| UNION PACIFIC CORPORATION | Stock | 907818108 |  | 288687 | 1248 | SH |  | SOLE | 0 | 0 | 0 | 1248 |
| ECOLAB INC. | Stock | 278865100 |  | 246769 | 940 | SH |  | SOLE | 0 | 0 | 0 | 940 |
| SALESFORCE INC. | Stock | 79466L302 |  | 7207406 | 27207 | SH |  | SOLE | 0 | 0 | 0 | 27207 |
| NORTHROP GRUMMAN CORP. | Stock | 666807102 |  | 324449 | 569 | SH |  | SOLE | 0 | 0 | 0 | 569 |
| DARDEN RESTAURANTS INC. | Stock | 237194105 |  | 780330 | 4240 | SH |  | SOLE | 0 | 0 | 0 | 4240 |
| REPUBLIC SERVICES INC. | Stock | 760759100 |  | 11378522 | 53690 | SH |  | SOLE | 0 | 0 | 0 | 53690 |
| JPMORGAN CHASE  CO. | Stock | 46625H100 |  | 10150413 | 31502 | SH |  | SOLE | 0 | 0 | 0 | 31501 |
| CHEVRON CORPORATION | Stock | 166764100 |  | 4932445 | 32363 | SH |  | SOLE | 0 | 0 | 0 | 32363 |
| CONOCOPHILLIPS | Stock | 20825C104 |  | 588901 | 6291 | SH |  | SOLE | 0 | 0 | 0 | 6291 |
| VANGUARD FTSE DEVELOPED MARKETS ETF | ETF | 921943858 |  | 727276 | 11642 | SH |  | SOLE | 0 | 0 | 0 | 11642 |
| DANAHER CORPORATION | Stock | 235851102 |  | 4063044 | 17749 | SH |  | SOLE | 0 | 0 | 0 | 17748 |
| M BANK CORPORATION | Stock | 55261F104 |  | 3704210 | 18385 | SH |  | SOLE | 0 | 0 | 0 | 18385 |
| TJX COMPANIES INC | Stock | 872540109 |  | 1427037 | 9290 | SH |  | SOLE | 0 | 0 | 0 | 9290 |
| BANK OF AMERICA CORP | Stock | 060505104 |  | 9415230 | 171186 | SH |  | SOLE | 0 | 0 | 0 | 171186 |
| WALMART INC. | Stock | 931142103 |  | 13365397 | 119966 | SH |  | SOLE | 0 | 0 | 0 | 119965 |
| INTERNATIONAL BUSINESS MACHINES CORPORATION | Stock | 459200101 |  | 3707030 | 12515 | SH |  | SOLE | 0 | 0 | 0 | 12514 |
| ORACLE CORPORATION | Stock | 68389X105 |  | 11364657 | 58307 | SH |  | SOLE | 0 | 0 | 0 | 58307 |
| RTX CORPORATION | Stock | 75513E101 |  | 24981967 | 136216 | SH |  | SOLE | 0 | 0 | 0 | 136215 |
| VANGUARD FTSE EMERGING MARKETS ETF | ETF | 922042858 |  | 4784052 | 88989 | SH |  | SOLE | 0 | 0 | 0 | 88989 |
| TARGET CORPORATION | Stock | 87612E106 |  | 1287465 | 13171 | SH |  | SOLE | 0 | 0 | 0 | 13171 |
| VANGUARD HIGH DIVIDEND YIELD INDEX ETF | ETF | 921946406 |  | 826388 | 5758 | SH |  | SOLE | 0 | 0 | 0 | 5758 |
| PFIZER INC. | Stock | 717081103 |  | 2332725 | 93684 | SH |  | SOLE | 0 | 0 | 0 | 93683 |
| MORGAN STANLEY | Stock | 617446448 |  | 1032159 | 5814 | SH |  | SOLE | 0 | 0 | 0 | 5814 |
| 3M COMPANY | Stock | 88579Y101 |  | 5748287 | 35904 | SH |  | SOLE | 0 | 0 | 0 | 35904 |
| CATERPILLAR INC. | Stock | 149123101 |  | 20835342 | 36370 | SH |  | SOLE | 0 | 0 | 0 | 36370 |
| ALPHABET INC. CLASS C | Stock | 02079K107 |  | 63759453 | 203185 | SH |  | SOLE | 0 | 0 | 0 | 203185 |
| AMERICAN EXPRESS COMPANY | Stock | 025816109 |  | 2405415 | 6502 | SH |  | SOLE | 0 | 0 | 0 | 6502 |
| AMGEN INC. | Stock | 031162100 |  | 7168089 | 21900 | SH |  | SOLE | 0 | 0 | 0 | 21900 |
| APPLIED MATERIALS INC. | Stock | 038222105 |  | 400302 | 1558 | SH |  | SOLE | 0 | 0 | 0 | 1557 |
| OTIS WORLDWIDE CORPORATION | Stock | 68902V107 |  | 647264 | 7410 | SH |  | SOLE | 0 | 0 | 0 | 7410 |
| AGNICO EAGLE MINES LIMITED | Stock | 008474108 |  | 19629540 | 115788 | SH |  | SOLE | 0 | 0 | 0 | 115788 |
| ISHARES CORE S U.S. GROWTH ETF | ETF | 464287671 |  | 383239 | 2282 | SH |  | SOLE | 0 | 0 | 0 | 2282 |
| VANGUARD DIVIDEND APPRECIATION ETF | ETF | 921908844 |  | 218772 | 995 | SH |  | SOLE | 0 | 0 | 0 | 995 |
| SOLSTICE ADVANCED MATLS INC | Stock | 83443Q103 |  | 366439 | 7543 | SH |  | SOLE | 0 | 0 | 0 | 7543 |
| ISHARES CORE U.S. AGGREGATE BOND ETF | ETF | 464287226 |  | 303835 | 3042 | SH |  | SOLE | 0 | 0 | 0 | 3042 |
| FIRST TRUST ENHANCED SHORT MATURITY ETF | ETF | 33739Q408 |  | 392542 | 6550 | SH |  | SOLE | 0 | 0 | 0 | 6550 |
| ISHARES U.S. INSURANCE ETF | ETF | 464288786 |  | 4793569 | 35208 | SH |  | SOLE | 0 | 0 | 0 | 35208 |
| COMPASS MINERALS INTERNATIONAL INC. | Stock | 20451N101 |  | 6103130 | 310750 | SH |  | SOLE | 0 | 0 | 0 | 310750 |
| DELTA AIR LINES INC. | Stock | 247361702 |  | 2401315 | 34601 | SH |  | SOLE | 0 | 0 | 0 | 34601 |
| STATE STREET SPDR PORTFOLIO S 500 VALUE ETF | ETF | 78464A508 |  | 2099470 | 36956 | SH |  | SOLE | 0 | 0 | 0 | 36956 |
| PHILIP MORRIS INTERNATIONAL INC. | Stock | 718172109 |  | 11541720 | 71956 | SH |  | SOLE | 0 | 0 | 0 | 71955 |
| BED BATH  BEYOND INC. | Stock | 690370101 |  | 253617 | 46450 | SH |  | SOLE | 0 | 0 | 0 | 46450 |
| GRAHAM HOLDINGS CO. CLASS B | Stock | 384637104 |  | 4943700 | 4500 | SH |  | SOLE | 0 | 0 | 0 | 4500 |
| BRISTOL-MYERS SQUIBB COMPANY | Stock | 110122108 |  | 1776130 | 32928 | SH |  | SOLE | 0 | 0 | 0 | 32927 |
| BARRICK MINING CORPORATION | Stock | 06849F108 |  | 339211 | 7789 | SH |  | SOLE | 0 | 0 | 0 | 7789 |
| ALTRIA GROUP INC. | Stock | 02209S103 |  | 1212417 | 21027 | SH |  | SOLE | 0 | 0 | 0 | 21027 |
| LOEWS CORPORATION | Stock | 540424108 |  | 15002247 | 142458 | SH |  | SOLE | 0 | 0 | 0 | 142457 |
| DOMINION ENERGY INC | Stock | 25746U109 |  | 1299936 | 22187 | SH |  | SOLE | 0 | 0 | 0 | 22187 |
| CITIGROUP INC. | Stock | 172967424 |  | 258352 | 2214 | SH |  | SOLE | 0 | 0 | 0 | 2214 |
| EXXON MOBIL CORPORATION | Stock | 30231G102 |  | 18150975 | 150831 | SH |  | SOLE | 0 | 0 | 0 | 150830 |
| UNITEDHEALTH GROUP INCORPORATED | Stock | 91324P102 |  | 6507128 | 19712 | SH |  | SOLE | 0 | 0 | 0 | 19712 |
| TRAVELERS COMPANIES INC. | Stock | 89417E109 |  | 4573956 | 15769 | SH |  | SOLE | 0 | 0 | 0 | 15769 |
| LOWE'S COMPANIES INC. | Stock | 548661107 |  | 17038677 | 70653 | SH |  | SOLE | 0 | 0 | 0 | 70653 |
| SOUTHWEST AIRLINES CO. | Stock | 844741108 |  | 870410 | 21060 | SH |  | SOLE | 0 | 0 | 0 | 21060 |
| ISHARES MSCI ACWI ETF | ETF | 464288257 |  | 335614 | 2372 | SH |  | SOLE | 0 | 0 | 0 | 2372 |
| AMERICAN INTERNATIONAL GROUP INC. | Stock | 026874784 |  | 982200 | 11481 | SH |  | SOLE | 0 | 0 | 0 | 11481 |
| UTILITIES SELECT SECTOR SPDR FUND | ETF | 81369Y886 |  | 1287957 | 30170 | SH |  | SOLE | 0 | 0 | 0 | 30170 |
| CABLE ONE INC. | Stock | 12685J105 |  | 756095 | 6700 | SH |  | SOLE | 0 | 0 | 0 | 6700 |
| PAYPAL HOLDINGS INC. | Stock | 70450Y103 |  | 296162 | 5073 | SH |  | SOLE | 0 | 0 | 0 | 5073 |
| CHARLES SCHWAB CORP | Stock | 808513105 |  | 1420637 | 14219 | SH |  | SOLE | 0 | 0 | 0 | 14219 |
| AUTOZONE INC. | Stock | 053332102 |  | 549423 | 162 | SH |  | SOLE | 0 | 0 | 0 | 162 |
| ISHARES CORE S MID-CAP ETF | ETF | 464287507 |  | 318815 | 4831 | SH |  | SOLE | 0 | 0 | 0 | 4830 |
| ISHARES MSCI EAFE ETF | ETF | 464287465 |  | 1795953 | 18702 | SH |  | SOLE | 0 | 0 | 0 | 18702 |
| APPLE INC. | Stock | 037833100 |  | 60000850 | 220705 | SH |  | SOLE | 0 | 0 | 0 | 220704 |
| ABBOTT LABORATORIES | Stock | 002824100 |  | 3950138 | 31528 | SH |  | SOLE | 0 | 0 | 0 | 31527 |
| WALT DISNEY COMPANY | Stock | 254687106 |  | 13305070 | 116947 | SH |  | SOLE | 0 | 0 | 0 | 116947 |
| FIDELITY NASDAQ COMPOSITE INDEX ETF | ETF | 315912808 |  | 297050 | 3250 | SH |  | SOLE | 0 | 0 | 0 | 3250 |
| ISHARES RUSSELL 1000 ETF | ETF | 464287622 |  | 1715957 | 4595 | SH |  | SOLE | 0 | 0 | 0 | 4595 |
| ISHARES RUSSELL 1000 VALUE ETF | ETF | 464287598 |  | 2061122 | 9799 | SH |  | SOLE | 0 | 0 | 0 | 9799 |

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