Auto-Owners Insurance Co — Q3 2025 13F Holdings

Holdings as of September 30, 2025

Portfolio value

$3.87T

Holdings count

186

186 positions reported

Accession #

0001964189-25-000005

Form 13F-HR/A

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All Reported Positions

186 positions sorted by value

186 positions

Issuer	CUSIP	Valuev	Weight	Shares/Prin.	Discretion	Voting (Sole/Shared/None)
SPDR INDEX SHS FDSPORTFOLIO DEVLPD	78463X889	$463.14B	11.96%	10,823,666shares	SOLE	10,823,666 / 0 / 0
ISHARES TRCORE MSCI EMKT	464287150	$361.24B	9.33%	2,480,204shares	SOLE	2,480,204 / 0 / 0
SPDR SERIES TRUSTNYSE TECH ETF	78464A102	$315.35B	8.14%	1,158,400shares	SOLE	1,158,400 / 0 / 0
ISHARES TRCORE S&P TTL STK	464288877	$226.42B	5.85%	3,338,000shares	SOLE	3,338,000 / 0 / 0
ISHARES TREAFE VALUE ETF	46435G326	$178.48B	4.61%	2,226,000shares	SOLE	2,226,000 / 0 / 0
SPDR INDEX SHS FDSPORTFOLIO DEVLPD	78463X889	$109.67B	2.83%	2,563,000shares	DFND	0 / 2,563,000 / 0
BERKSHIRE HATHAWAY INC DELCL B NEW	084670108	$109.36B	2.82%	145shares	SOLE	145 / 0 / 0
ALPHABET INCCAP STK CL C	02079K107	$87.92B	2.27%	360,996shares	SOLE	360,996 / 0 / 0
META PLATFORMS INCCOM	30303M102	$84.56B	2.18%	115,150shares	SOLE	115,150 / 0 / 0
SPDR INDEX SHS FDSPORTFOLIO DEVLPD	78463X889	$78.90B	2.04%	1,844,000shares	DFND	0 / 1,844,000 / 0
SCHWAB STRATEGIC TRFUNDAMENTAL INTL	808524755	$75.88B	1.96%	1,766,000shares	SOLE	1,766,000 / 0 / 0
AMAZON COM INCCOM	023135106	$63.74B	1.65%	290,300shares	SOLE	290,300 / 0 / 0
POLARIS INCCOM	731068102	$60.16B	1.55%	1,035,000shares	SOLE	1,035,000 / 0 / 0
SPDR SERIES TRUSTPRTFLO S&P500 HI	78468R788	$59.27B	1.53%	1,360,000shares	SOLE	1,360,000 / 0 / 0
VANGUARD WHITEHALL FDSHIGH DIV YLD	921946406	$58.17B	1.50%	412,700shares	SOLE	412,700 / 0 / 0
VANGUARD INDEX FDSSMALL CP ETF	922908751	$55.03B	1.42%	216,428shares	SOLE	216,428 / 0 / 0
VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT	921943858	$54.69B	1.41%	912,750shares	SOLE	912,750 / 0 / 0
JOHNSON & JOHNSONEAFE SML CP ETF	478160104	$53.11B	1.37%	286,440shares	SOLE	286,440 / 0 / 0
MICROSOFT CORPCL A	594918104	$46.33B	1.20%	89,453shares	SOLE	89,453 / 0 / 0
ISHARES TRCORE S&P TTL STK	464287150	$44.79B	1.16%	307,550shares	DFND	0 / 307,550 / 0
VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF	922042858	$44.79B	1.16%	826,716shares	SOLE	826,716 / 0 / 0
PEPSICO INCCOM	713448108	$44.29B	1.14%	315,378shares	SOLE	315,378 / 0 / 0
SPDR SERIES TRUSTPORTFOLIO S&P400	78464A847	$42.90B	1.11%	750,000shares	SOLE	750,000 / 0 / 0
ISHARES TRCORE MSCI INTL	464287663	$37.29B	0.96%	374,000shares	SOLE	374,000 / 0 / 0
DOW INCCOM	260557103	$36.94B	0.95%	1,611,000shares	SOLE	1,611,000 / 0 / 0
ISHARES TRCORE S&P TTL STK	464287150	$36.42B	0.94%	250,020shares	DFND	0 / 250,020 / 0
CISCO SYS INCCOM	17275R102	$34.48B	0.89%	503,940shares	SOLE	503,940 / 0 / 0
ENTERPRISE PRODS PARTNERS LCOM	293792107	$31.27B	0.81%	1,000,000shares	SOLE	1,000,000 / 0 / 0
US BANCORP DELCOM NEW	902973304	$30.21B	0.78%	625,000shares	SOLE	625,000 / 0 / 0
BECTON DICKINSON & COCL A	075887109	$29.00B	0.75%	154,935shares	SOLE	154,935 / 0 / 0
DUPONT DE NEMOURS INCCOM	26614N102	$28.48B	0.74%	365,627shares	SOLE	365,627 / 0 / 0
ISHARES TRCORE S&P US VLU	464287663	$27.32B	0.71%	274,000shares	DFND	0 / 274,000 / 0
VANGUARD WORLD FDCONSUM DIS ETF	92204A108	$27.16B	0.70%	68,700shares	SOLE	68,700 / 0 / 0
SPDR SER TRNYSE TECH ETF	78464A102	$25.56B	0.66%	93,900shares	DFND	0 / 93,900 / 0
BAXTER INTL INCCOM	071813109	$23.91B	0.62%	1,050,000shares	SOLE	1,050,000 / 0 / 0
ISHARES INCEM MKTS DIV ETF	46434G103	$23.73B	0.61%	360,000shares	SOLE	360,000 / 0 / 0
VANGUARD WHITEHALL FDSHIGH DIV YLD	921946406	$23.54B	0.61%	167,000shares	DFND	0 / 167,000 / 0
ISHARES TRCORE S&P US VLU	46434V621	$23.11B	0.60%	339,500shares	SOLE	339,500 / 0 / 0
ISHARES TREAFE VALUE ETF	464288877	$22.38B	0.58%	330,000shares	DFND	0 / 330,000 / 0
SCHWAB STRATEGIC TRFUNDAMENTAL INTL	808524755	$22.30B	0.58%	519,000shares	DFND	0 / 519,000 / 0
GE HEALTHCARE TECHNOLOGIES ICOM	36266G107	$21.91B	0.57%	291,781shares	SOLE	291,781 / 0 / 0
ISHARES TRCORE S&P US VLU	464287663	$21.54B	0.56%	216,000shares	DFND	0 / 216,000 / 0
COCA-COLA FEMSA SAB DE CVCL A	191241108	$20.80B	0.54%	250,300shares	SOLE	250,300 / 0 / 0
VANGUARD WHITEHALL FDSHIGH DIV YLD	921946406	$20.37B	0.53%	144,500shares	DFND	0 / 144,500 / 0
ISHARES TREAFE VALUE ETF	464288877	$20.01B	0.52%	295,000shares	DFND	0 / 295,000 / 0
CARNIVAL CORPCOM	143658300	$18.79B	0.49%	650,000shares	SOLE	650,000 / 0 / 0
AMERISAFE INCCOM	03071H100	$18.72B	0.48%	426,900shares	SOLE	426,900 / 0 / 0
SPDR SER TRPRTFLO S&P500 HI	78468R788	$18.30B	0.47%	420,000shares	DFND	0 / 420,000 / 0
SCHWAB STRATEGIC TRFUNDAMENTAL INTL	808524755	$17.96B	0.46%	418,000shares	DFND	0 / 418,000 / 0
VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF	922042858	$16.96B	0.44%	313,000shares	DFND	0 / 313,000 / 0
SELECT SECTOR SPDR TRRL EST SEL SEC	81369Y860	$16.92B	0.44%	401,531shares	SOLE	401,531 / 0 / 0
GE AEROSPACECOM NEW	369604301	$16.77B	0.43%	55,762shares	DFND	0 / 55,762 / 0
ALPHABET INCCAP STK CL C	02079K107	$16.56B	0.43%	68,000shares	DFND	0 / 68,000 / 0
FMC CORPCOM	302491303	$15.13B	0.39%	450,000shares	SOLE	450,000 / 0 / 0
SPDR SER TRNYSE TECH ETF	78464A102	$15.03B	0.39%	55,200shares	DFND	0 / 55,200 / 0
META PLATFORMS INCCL A	30303M102	$14.10B	0.36%	19,200shares	DFND	0 / 19,200 / 0
TRUIST FINL CORPCOM	89832Q109	$13.17B	0.34%	288,000shares	SOLE	288,000 / 0 / 0
AVALONBAY CMNTYS INCCOM	053484101	$12.56B	0.32%	65,000shares	SOLE	65,000 / 0 / 0
SPDR SER TRPRTFLO S&P500 HI	78468R788	$11.77B	0.30%	270,000shares	DFND	0 / 270,000 / 0
GE AEROSPACECOMMON STOCK	369604301	$11.35B	0.29%	37,736shares	SOLE	37,736 / 0 / 0
SPDR SER TRPORTFOLIO S&P400	78464A847	$10.30B	0.27%	180,000shares	DFND	0 / 180,000 / 0
KRAFT HEINZ COCOM	500754106	$9.69B	0.25%	371,998shares	SOLE	371,998 / 0 / 0
GE AEROSPACECOM NEW	369604301	$9.64B	0.25%	32,050shares	DFND	0 / 32,050 / 0
AMAZON COM INCCOM	023135106	$9.44B	0.24%	43,000shares	DFND	0 / 43,000 / 0
VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF	922042858	$9.26B	0.24%	171,000shares	DFND	0 / 171,000 / 0
ALPHABET INCCAP STK CL C	02079K107	$9.25B	0.24%	38,000shares	DFND	0 / 38,000 / 0
ENBRIDGE INCCOM	29250N105	$9.04B	0.23%	179,110shares	SOLE	179,110 / 0 / 0
GE VERNOVA INCCOM	36828A101	$8.57B	0.22%	13,940shares	DFND	0 / 13,940 / 0
ISHARES TRCORE MSCI INTL	46435G326	$8.26B	0.21%	103,000shares	DFND	0 / 103,000 / 0
WORKDAY INCCOM SER A	98138H101	$7.85B	0.20%	32,600shares	SOLE	32,600 / 0 / 0
ISHARES TRCORE DIV GRWTH	46434V621	$6.81B	0.18%	100,000shares	DFND	0 / 100,000 / 0
VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT	921943858	$6.71B	0.17%	112,000shares	DFND	0 / 112,000 / 0
ISHARES TRCORE MSCI INTL	46435G326	$6.65B	0.17%	83,000shares	DFND	0 / 83,000 / 0
SPDR SER TRPORTFOLIO S&P400	78464A847	$6.29B	0.16%	110,000shares	DFND	0 / 110,000 / 0
GE VERNOVA INCCOM	36828A101	$5.80B	0.15%	9,431shares	SOLE	9,431 / 0 / 0
AMAZON COM INCCOM	023135106	$5.49B	0.14%	25,000shares	DFND	0 / 25,000 / 0
MICROSOFT CORPCOM	594918104	$5.39B	0.14%	10,400shares	DFND	0 / 10,400 / 0
ISHARES INCCOM	464286319	$5.34B	0.14%	180,000shares	SOLE	180,000 / 0 / 0
BERKSHIRE HATHAWAY INC DELCL A	084670108	$5.28B	0.14%	7shares	DFND	0 / 7 / 0
VANGUARD INDEX FDSTOTAL STK MKT	922908769	$5.12B	0.13%	15,600shares	DFND	0 / 15,600 / 0
ISHARES TRCORE DIV GRWTH	46434V621	$5.11B	0.13%	75,000shares	DFND	0 / 75,000 / 0
ISHARES INCEM MKTS DIV ETF	464286319	$5.05B	0.13%	170,000shares	DFND	0 / 170,000 / 0
VANGUARD INDEX FDSSMALL CP ETF	922908751	$4.96B	0.13%	19,500shares	DFND	0 / 19,500 / 0
GE VERNOVA INCCOM	36828A101	$4.93B	0.13%	8,012shares	DFND	0 / 8,012 / 0
BERKSHIRE HATHAWAY INC DELCOM	084670702	$4.82B	0.12%	9,580shares	SOLE	9,580 / 0 / 0
SELECT SECTOR SPDR TRRL EST SEL SEC	81369Y860	$4.50B	0.12%	106,711shares	DFND	0 / 106,711 / 0
ISHARES INCEM MKTS DIV ETF	464286319	$4.45B	0.11%	150,000shares	DFND	0 / 150,000 / 0
RTX CORPORATIONCOM	75513E101	$4.40B	0.11%	26,287shares	SOLE	26,287 / 0 / 0
NOVARTIS AGCL A	66987V109	$4.31B	0.11%	33,570shares	SOLE	33,570 / 0 / 0
3M COCOM	88579Y101	$4.14B	0.11%	26,690shares	SOLE	26,690 / 0 / 0
ORACLE CORPSPONSORED ADR	68389X105	$4.08B	0.11%	14,500shares	SOLE	14,500 / 0 / 0
ISHARES TRCORE HIGH DV ETF	464288273	$4.01B	0.10%	52,300shares	SOLE	52,300 / 0 / 0
PROCTER AND GAMBLE COCOM	742718109	$3.81B	0.10%	24,769shares	SOLE	24,769 / 0 / 0
APPLE INCCOM	037833100	$3.77B	0.10%	14,818shares	SOLE	14,818 / 0 / 0
CISCO SYS INCCOM	17275R102	$3.70B	0.10%	54,120shares	DFND	0 / 54,120 / 0
MICROSOFT CORPCOM	594918104	$3.63B	0.09%	7,000shares	DFND	0 / 7,000 / 0
TORONTO DOMINION BK ONTCOM NEW	891160509	$3.37B	0.09%	42,096shares	SOLE	42,096 / 0 / 0
VANGUARD INDEX FDSSMALL CP ETF	922908751	$3.33B	0.09%	13,100shares	DFND	0 / 13,100 / 0
BECTON DICKINSON & COCOM	075887109	$3.24B	0.08%	17,310shares	DFND	0 / 17,310 / 0
SELECT SECTOR SPDR TRRL EST SEL SEC	81369Y860	$3.20B	0.08%	75,806shares	DFND	0 / 75,806 / 0
3M COCOM	88579Y101	$3.17B	0.08%	20,400shares	DFND	0 / 20,400 / 0
VANGUARD WORLD FDCONSUM DIS ETF	92204A108	$3.12B	0.08%	7,900shares	DFND	0 / 7,900 / 0
STRYKER CORPORATIONCOM	863667101	$3.07B	0.08%	8,293shares	SOLE	8,293 / 0 / 0
BERKSHIRE HATHAWAY INC DELCL A	084670108	$3.02B	0.08%	4shares	DFND	0 / 4 / 0
JOHNSON & JOHNSONCOM	478160104	$2.96B	0.08%	15,940shares	DFND	0 / 15,940 / 0
ISHARES TRCORE DIV GRWTH	46429B663	$2.91B	0.08%	23,800shares	SOLE	23,800 / 0 / 0
GE HEALTHCARE TECHNOLOGIES ICOMMON STOCK	36266G107	$2.90B	0.07%	38,587shares	DFND	0 / 38,587 / 0
APPLIED MATLS INCCOM	038222105	$2.66B	0.07%	13,000shares	SOLE	13,000 / 0 / 0
KRAFT HEINZ COCOM	500754106	$2.55B	0.07%	97,900shares	DFND	0 / 97,900 / 0
HONDA MOTOR LTDADR ECH CNV IN 3	438128308	$2.40B	0.06%	78,000shares	DFND	0 / 78,000 / 0
ZIMMER BIOMET HOLDINGS INCCL A	98956P102	$2.20B	0.06%	22,350shares	SOLE	22,350 / 0 / 0
META PLATFORMS INCCL A	30303M102	$2.17B	0.06%	2,950shares	DFND	0 / 2,950 / 0
CISCO SYS INCCOM	17275R102	$2.13B	0.05%	31,080shares	DFND	0 / 31,080 / 0
THERMO FISHER SCIENTIFIC INCCOM	883556102	$2.03B	0.05%	4,190shares	SOLE	4,190 / 0 / 0
BECTON DICKINSON & COCOM	075887109	$1.89B	0.05%	10,110shares	DFND	0 / 10,110 / 0
3M COCOM	88579Y101	$1.82B	0.05%	11,700shares	DFND	0 / 11,700 / 0
VANGUARD INDEX FDSTOTAL STK MKT	922908769	$1.77B	0.05%	5,400shares	SOLE	5,400 / 0 / 0
DUPONT DE NEMOURS INCCOM	26614N102	$1.75B	0.05%	22,500shares	DFND	0 / 22,500 / 0
GE HEALTHCARE TECHNOLOGIES ICOMMON STOCK	36266G107	$1.70B	0.04%	22,683shares	DFND	0 / 22,683 / 0
VANGUARD WORLD FDCONSUM DIS ETF	92204A108	$1.62B	0.04%	4,100shares	DFND	0 / 4,100 / 0
JOHNSON & JOHNSONCOM	478160104	$1.59B	0.04%	8,560shares	DFND	0 / 8,560 / 0
RTX CORPORATIONCOM	75513E101	$1.52B	0.04%	9,100shares	DFND	0 / 9,100 / 0
LINDE PLCCOM	G54950103	$1.47B	0.04%	3,100shares	SOLE	3,100 / 0 / 0
KRAFT HEINZ COCOM	500754106	$1.45B	0.04%	55,833shares	DFND	0 / 55,833 / 0
BLACKROCK INCCOM	09290D101	$1.40B	0.04%	1,200shares	SOLE	1,200 / 0 / 0
HONDA MOTOR LTDADR ECH CNV IN 3	438128308	$1.39B	0.04%	45,150shares	SOLE	45,150 / 0 / 0
HONDA MOTOR LTDADR ECH CNV IN 3	438128308	$1.39B	0.04%	45,000shares	DFND	0 / 45,000 / 0
HOWMET AEROSPACE INCCOM	443201108	$1.38B	0.04%	7,033shares	SOLE	7,033 / 0 / 0
KELLANOVACOM	487836108	$1.34B	0.03%	16,300shares	DFND	0 / 16,300 / 0
MSC INDL DIRECT INCCOM	553530106	$1.32B	0.03%	14,300shares	SOLE	14,300 / 0 / 0
QUALCOMM INCCOM	747525103	$1.30B	0.03%	7,839shares	SOLE	7,839 / 0 / 0
COCA COLA COSPONS ADS REP	191216100	$1.26B	0.03%	19,000shares	SOLE	19,000 / 0 / 0
VANGUARD TAX-MANAGED FDSVAN FTSE DEV MKT	921943858	$1.26B	0.03%	21,000shares	DFND	0 / 21,000 / 0
C H ROBINSON WORLDWIDE INCUNIT 99/99/9999	12541W209	$1.24B	0.03%	9,400shares	SOLE	9,400 / 0 / 0
PEPSICO INCCOM	713448108	$1.24B	0.03%	8,800shares	DFND	0 / 8,800 / 0
WORKDAY INCCL A	98138H101	$1.16B	0.03%	4,800shares	DFND	0 / 4,800 / 0
COCA COLA COCOM	191216100	$1.14B	0.03%	17,200shares	DFND	0 / 17,200 / 0
ABBOTT LABSCOM	002824100	$1.12B	0.03%	8,358shares	SOLE	8,358 / 0 / 0
SNAP ON INCCOM	833034101	$1.03B	0.03%	2,975shares	SOLE	2,975 / 0 / 0
UNITED PARCEL SERVICE INCCL B	911312106	$1.03B	0.03%	12,300shares	SOLE	12,300 / 0 / 0
DUPONT DE NEMOURS INCCOM	26614N102	$1.01B	0.03%	13,000shares	DFND	0 / 13,000 / 0
PNC FINL SVCS GROUP INCCOM	693475105	$1.00B	0.03%	5,000shares	SOLE	5,000 / 0 / 0
ECOLAB INCCOM	278865100	$985.90M	0.03%	3,600shares	SOLE	3,600 / 0 / 0
SYSCO CORPCOM	871829107	$913.97M	0.02%	11,100shares	SOLE	11,100 / 0 / 0
AGNICO EAGLE MINES LTDCOM	008474108	$910.22M	0.02%	5,400shares	SOLE	5,400 / 0 / 0
RTX CORPORATIONCOM	75513E101	$886.85M	0.02%	5,300shares	DFND	0 / 5,300 / 0
INTEL CORPCOM	458140100	$808.55M	0.02%	24,100shares	DFND	0 / 24,100 / 0
BROADCOM INCCOM NEW	11135F101	$788.49M	0.02%	2,390shares	SOLE	2,390 / 0 / 0
KELLANOVACOM	487836108	$770.99M	0.02%	9,400shares	DFND	0 / 9,400 / 0
CARRIER GLOBAL CORPORATIONCOM	14448C104	$763.38M	0.02%	12,787shares	SOLE	12,787 / 0 / 0
PEPSICO INCCOM	713448108	$716.24M	0.02%	5,100shares	DFND	0 / 5,100 / 0
MSC INDL DIRECT INCCL A	553530106	$709.48M	0.02%	7,700shares	DFND	0 / 7,700 / 0
COGNIZANT TECHNOLOGY SOLUTIOCOM	192446102	$686.26M	0.02%	10,232shares	SOLE	10,232 / 0 / 0
ILLINOIS TOOL WKS INCCOM	452308109	$664.94M	0.02%	2,550shares	SOLE	2,550 / 0 / 0
MONDELEZ INTL INCCOM	609207105	$662.18M	0.02%	10,600shares	SOLE	10,600 / 0 / 0
DOVER CORPCOM	260003108	$650.64M	0.02%	3,900shares	SOLE	3,900 / 0 / 0
WORKDAY INCCL A	98138H101	$649.97M	0.02%	2,700shares	DFND	0 / 2,700 / 0
RIO TINTO PLCSPONSORED ADR	767204100	$633.70M	0.02%	9,600shares	SOLE	9,600 / 0 / 0
INTEL CORPCOM	458140100	$627.65M	0.02%	18,708shares	SOLE	18,708 / 0 / 0
MERCK & CO INCSHS	58933Y105	$612.69M	0.02%	7,300shares	SOLE	7,300 / 0 / 0
KELLANOVACOM	487836108	$606.95M	0.02%	7,400shares	SOLE	7,400 / 0 / 0
GRAHAM CORPSPONSORED ADR	384556106	$603.90M	0.02%	11,000shares	SOLE	11,000 / 0 / 0
GENERAL MTRS COCOM	37045V100	$597.51M	0.02%	9,800shares	SOLE	9,800 / 0 / 0
DELL TECHNOLOGIES INCCOM	24703L202	$587.92M	0.02%	4,147shares	SOLE	4,147 / 0 / 0
OTIS WORLDWIDE CORPCOM	68902V107	$584.51M	0.02%	6,393shares	SOLE	6,393 / 0 / 0
CME GROUP INCCOM	12572Q105	$529.30M	0.01%	1,959shares	SOLE	1,959 / 0 / 0
EXPEDITORS INTL WASH INCCOM NEW	302130109	$502.01M	0.01%	4,095shares	SOLE	4,095 / 0 / 0
COCA COLA COCOM	191216100	$497.40M	0.01%	7,500shares	DFND	0 / 7,500 / 0
VODAFONE GROUP PLC NEWSPONSORED ADR	92857W308	$460.90M	0.01%	39,733shares	SOLE	39,733 / 0 / 0
WARNER BROS DISCOVERY INCCOM	934423104	$459.37M	0.01%	23,527shares	SOLE	23,527 / 0 / 0
COLGATE PALMOLIVE COCOM	194162103	$447.66M	0.01%	5,600shares	SOLE	5,600 / 0 / 0
VERIZON COMMUNICATIONS INCCOM	92343V104	$440.95M	0.01%	10,033shares	SOLE	10,033 / 0 / 0
CVS HEALTH CORPCL C	126650100	$426.48M	0.01%	5,657shares	SOLE	5,657 / 0 / 0
MSC INDL DIRECT INCCL A	553530106	$414.63M	0.01%	4,500shares	DFND	0 / 4,500 / 0
AT&T INCCOM	00206R102	$396.86M	0.01%	14,053shares	SOLE	14,053 / 0 / 0
MOODYS CORPCL A	615369105	$392.14M	0.01%	823shares	SOLE	823 / 0 / 0
COSTCO WHSL CORP NEWCOM	22160K105	$374.88M	0.01%	405shares	SOLE	405 / 0 / 0
INTEL CORPCOM	458140100	$369.05M	0.01%	11,000shares	DFND	0 / 11,000 / 0
BARRICK MNG CORPCOM	06849F108	$334.25M	0.01%	10,200shares	SOLE	10,200 / 0 / 0
ANALOG DEVICES INCCOM	032654105	$313.27M	0.01%	1,275shares	SOLE	1,275 / 0 / 0
ARCELORMITTAL SA LUXEMBOURGNY REGISTRY SH	03938L203	$291.59M	0.01%	8,066shares	SOLE	8,066 / 0 / 0
HILLENBRAND INCCOM	431571108	$283.92M	0.01%	10,500shares	SOLE	10,500 / 0 / 0
UNION PAC CORPCOM	907818108	$241.57M	0.01%	1,022shares	SOLE	1,022 / 0 / 0
AT&T INCCOM	00206R102	$225.92M	0.01%	8,000shares	DFND	0 / 8,000 / 0
PROTO LABS INCCOM	743713109	$225.13M	0.01%	4,500shares	SOLE	4,500 / 0 / 0
FORTIVE CORPCOM NEW	34959J108	$213.11M	0.01%	4,350shares	SOLE	4,350 / 0 / 0

Filing Metadata

Form type

13F-HR/A

Filing date

Nov 19, 2025

Holdings as of

September 30, 2025

Accession

0001964189-25-000005

CIK

0001964189

Other managers

View on SEC

Portfolio Snapshot

Total Portfolio Value

$3.87T

Number of Positions

186

186 reported by filer

Top 10 Concentration

52.0%

Top 20 Concentration

66.8%

Unique Issuers

106

By CUSIP

Avg. Position Size

$20.82B

Across 186 holdings

Top 5 Holdings

SPDR INDEX SHS FDS12.0%

ISHARES TR9.3%

SPDR SERIES TRUST8.1%

ISHARES TR5.8%

ISHARES TR4.6%