TY 2025 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0047

2025

Open to Public Inspection

For calendar year 2025, or tax year beginning 01 - 01 2025, and ending 12 - 31, 20 25

Name of foundation
THE SUSAN I MARVIN CHARITABLE TRUST

Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 653067
Room/suite

City or town
DALLAS

State or province
TX

Country

ZIP or foreign postal code
752653067

A Employer identification number

82-3321129

B Telephone number (see instructions)

8888663275

C If exemption application is pending, check here

G Check all that apply: Initial returnInitial return of a former public charity

Address change Name change

D 1. Foreign organizations, check here.............

2. Foreign organizations meeting the 85%
test, check here and attach computation ...

E If private foundation status was terminated
under section 507(b)(1)(A), check here .......

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here .......

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)$6,473,834J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .................
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	106,888		105,705
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		60,977
b	Gross sales price for all assets on line 6a 492,098
7	Capital gain net income (from Part IV, line 2)...			60,977
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	167,865		166,682
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	33,754	20,695		13,059
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	6,127	1,448		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	27	2		25
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	39,908		22,145	0	13,084
25	Contributions, gifts, grants paid.......	242,400				242,400
26	Total expenses and disbursements. Add lines 24 and 25 ................	282,308		22,145	0	255,484
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-114,443
b	Net investment income (if negative, enter -0-)			144,537
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2025)

Form 990-PF (2025)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	94,132	55,292	55,292
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)		List of Attached Documents: // Content 346,875	356,582
	b	Investments—corporate stock (attach schedule).......	4,071,564	List of Attached Documents: // Content 3,208,621	5,608,509
	c	Investments—corporate bonds (attach schedule).......		List of Attached Documents: // Content 442,836	453,451
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........			0
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	4,165,696	4,053,624	6,473,834
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	4,165,696	4,053,624
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	4,165,696	4,053,624
	30	Total liabilities and net assets/fund balances (see instructions).	4,165,696	4,053,624

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

4,165,696

Enter amount from Part I, line 27a .....................

-114,443

Other increases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

2,408

Add lines 1, 2, and 3 ..........................

4,053,661

Decreases not included in line 2 (itemize) Click to see attachment

List of Attached Documents:

// Content

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, line 29, column (b) ..

4,053,624

Form 990-PF (2025)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	1. DEERE & COMPANY		2024-11-09	2025-01-07
b	1. NORTHROP CORPORATION		2024-11-11	2025-01-07
c	5. VISA INC CL A SHRS		2024-11-11	2025-01-07
d	5. AUTODESK INC (DEL)		2024-11-11	2025-01-17
e	5. MICROCHIP TECHNOLOGY INC COM		2024-11-11	2025-01-17
	1. ANSYS INC		2024-12-05	2025-01-30
	1. AUTODESK INC (DEL)		2024-11-11	2025-01-30
	3. BROOKFIELD INFRASTRUCTURE CORP NEW		2024-11-21	2025-01-30
	1. BROOKFIELD INFRASTRUCTURE CORP NEW		2024-11-11	2025-01-30
	5. KKR & CO INC CL A		2024-11-11	2025-01-30
	19. MICROCHIP TECHNOLOGY INC COM		2024-11-11	2025-01-30
	1. PROGRESSIVE CORP OHIO COM		2024-11-11	2025-01-30
	6. SBA COMMUNICATIONS CORP NEW		2024-11-11	2025-01-30
	5. ARCH CAP GROUP LTD COM NEW BERMUDA		2024-11-11	2025-01-30
	422.21 FHLMC SD 6653 03 50%2053		2024-11-14	2025-01-31
	422.4 FHLMC SD 8213 03%2052		2024-11-14	2025-01-31
	177.6 FHLMC SD 8438 05 50%2054		2024-11-14	2025-01-31
	177.78 FNMA PFS6605 02%2052		2024-11-14	2025-01-31
	305.32 FNMA PFS9366 02 50%2052		2024-11-14	2025-01-31
	8. L3HARRIS TECHNOLOGIES INC		2024-11-11	2025-02-04
	1. NORTHROP CORPORATION		2024-11-11	2025-02-04
	19. NVIDIA CORP COM		2024-11-11	2025-02-04
	1000. CAPITAL ONE FINANCIAL CO GLB		2024-11-13	2025-02-05
	3000. CAPITAL ONE FINANCIAL CO GLB		2024-11-13	2025-02-06
	5000. HP ENTERPRISE CO GLB		2024-11-13	2025-02-07
	4. ADOBE SYS INC		2024-11-11	2025-02-11
	2. AUTODESK INC (DEL)		2024-11-11	2025-02-11
	3. COSTAR GROUP INC		2024-11-11	2025-02-11
	1. GARTNER GROUP INC NEW CL A		2024-11-11	2025-02-11
	2. KKR & CO INC CL A		2024-11-11	2025-02-11
	1. KKR & CO INC CL A		2024-11-11	2025-02-11
	4. L3HARRIS TECHNOLOGIES INC		2024-11-11	2025-02-11
	11. MGM GRAND INCORPORATED		2024-11-11	2025-02-11
	29. MERCK AND CO INC SHS		2024-11-11	2025-02-11
	35. MICROCHIP TECHNOLOGY INC COM		2024-11-11	2025-02-11
	1. MICROCHIP TECHNOLOGY INC COM		2024-11-20	2025-02-11
	23. MILLROSE PROPERTIES INC		2025-02-07	2025-02-11
	1. NORTHROP CORPORATION		2024-11-11	2025-02-11
	9. TARGET CORP		2024-11-11	2025-02-11
	2. VERALTO CORP REG SHS		2024-11-11	2025-02-11
	5. VERISIGN INC		2024-11-11	2025-02-11
	4. EATON CORP PLC		2024-11-11	2025-02-11
	5000. HOME DEPOT INC GLB		2024-11-13	2025-02-12
	1. L3HARRIS TECHNOLOGIES INC		2024-11-11	2025-02-12
	25. MGM GRAND INCORPORATED		2024-11-11	2025-02-12
	17000. JPMORGAN CHASE & CO CLD GLB		2024-11-13	2025-02-24
	6. AUTODESK INC (DEL)		2024-11-11	2025-02-27
	7. MICROCHIP TECHNOLOGY INC COM		2024-11-20	2025-02-27
	331.2 FHLMC SD 6653 03 50%2053		2024-11-14	2025-02-28
	332.12 FHLMC SD 8213 03%2052		2024-11-14	2025-02-28
	158.79 FHLMC SD 8438 05 50%2054		2024-11-14	2025-02-28
	217.61 FNMA PFS6605 02%2052		2024-11-14	2025-02-28
	403.22 FNMA PFS9366 02 50%2052		2024-11-14	2025-02-28
	23000. U.S. TREASURY NOTE 0.500% MAR 31 2025		2024-11-13	2025-03-11
	1. HEICO CORP NEW CL A		2025-02-27	2025-03-13
	1. TRANSDIGM GROUP INC COM		2024-11-11	2025-03-13
	3000. KROGER CO GLB		2024-11-13	2025-03-18
	7000. KROGER CO GLB		2024-11-13	2025-03-19
	17. CARMAX INC		2024-11-11	2025-03-28
	5. COSTAR GROUP INC		2024-11-11	2025-03-28
	1. DOMINOS PIZZA INC		2024-11-11	2025-03-28
	1. GARTNER GROUP INC NEW CL A		2024-11-11	2025-03-28
	2. HEICO CORP NEW CL A		2024-11-11	2025-03-28
	641.28 FHLMC SD 6653 03 50%2053		2024-11-14	2025-03-31
	421.35 FHLMC SD 8213 03%2052		2024-11-14	2025-03-31
	251.98 FHLMC SD 8438 05 50%2054		2024-11-14	2025-03-31
	170.69 FNMA PFS6605 02%2052		2024-11-14	2025-03-31
	317.29 FNMA PFS9366 02 50%2052		2024-11-14	2025-03-31
	8. MARVELL TECH INC		2025-02-04	2025-04-01
	6. CONOCOPHILLIPS COM		2024-11-11	2025-04-04
	6000. U.S. TREASURY NOTE 2.250% NOV 15 2025		2024-11-13	2025-04-11
	3. BROWN & BROWN INC COM		2024-11-11	2025-04-14
	1. BROWN & BROWN INC COM		2024-11-11	2025-04-28
	8. CARMAX INC		2024-11-11	2025-04-28
	2. COPART INC		2024-11-11	2025-04-28
	2. PROGRESSIVE CORP OHIO COM		2024-11-11	2025-04-28
	6. CONSTELLATION BRANDS INC CL A		2024-11-11	2025-04-29
	16. NXP SEMICONDUCTORS N.V.		2024-11-11	2025-04-29
	688.48 FHLMC SD 6653 03 50%2053		2024-11-14	2025-04-30
	510.53 FHLMC SD 8213 03%2052		2024-11-14	2025-04-30
	296.83 FHLMC SD 8438 05 50%2054		2024-11-14	2025-04-30
	186.55 FNMA PFS6605 02%2052		2024-11-14	2025-04-30
	251.97 FNMA PFS9366 02 50%2052		2024-11-14	2025-04-30
	1000. MICRON TECHNOLOGY IN CLD GLB		2024-11-13	2025-05-05
	5000. MICRON TECHNOLOGY IN CLD GLB		2024-11-13	2025-05-06
	4000. ELI LILLY & CO GLB		2025-02-12	2025-05-08
	1000. ELI LILLY & CO GLB		2025-02-12	2025-05-08
	21. CARMAX INC		2024-11-11	2025-05-16
	2. LIBERTY MEDIA CORP REG SHS SERIES SER -C- CL C		2024-11-11	2025-05-16
	702.18 FHLMC SD 6653 03 50%2053		2024-11-14	2025-05-31
	566.36 FHLMC SD 8213 03%2052		2024-11-14	2025-05-31
	280.32 FHLMC SD 8438 05 50%2054		2024-11-14	2025-05-31
	221.19 FNMA PFS6605 02%2052		2024-11-14	2025-05-31
	392.97 FNMA PFS9366 02 50%2052		2024-11-14	2025-05-31
	6. NVIDIA CORP COM		2024-11-11	2025-06-10
	3. BROWN & BROWN INC COM		2024-11-11	2025-06-13
	9. CARMAX INC		2024-11-11	2025-06-13
	1. HEICO CORP NEW CL A		2024-11-11	2025-06-13
	2. PROGRESSIVE CORP OHIO COM		2024-11-11	2025-06-13
	2. HEICO CORP NEW CL A		2024-11-11	2025-06-16
	6. METLIFE INC		2024-11-11	2025-06-16
	811.54 FHLMC SD 6653 03 50%2053		2024-11-14	2025-06-30
	515.39 FHLMC SD 8213 03%2052		2024-11-14	2025-06-30
	245.86 FHLMC SD 8438 05 50%2054		2024-11-14	2025-06-30
	256.87 FNMA PFS6605 02%2052		2024-11-14	2025-06-30
	486.98 FNMA PFS9366 02 50%2052		2024-11-14	2025-06-30
	5. BOOZ ALLEN HAMILTON HLDG CLASS A		2024-11-11	2025-07-08
	1000. CAPITAL ONE FINANCIAL CO GLB		2024-11-13	2025-07-08
	7. SELECT SECTOR SPDR TR ENERGY SHS BEN INT		2024-11-22	2025-07-08
	14. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-07-09
	4000. CAPITAL ONE FINANCIAL CO GLB		2024-11-13	2025-07-09
	1. GARTNER GROUP INC NEW CL A		2024-11-11	2025-07-09
	2. HEICO CORP NEW CL A		2024-11-11	2025-07-09
	2. LIBERTY MEDIA CORP REG SHS SERIES SER -C- CL C		2024-11-11	2025-07-09
	1. LIBERTY MEDIA CORP REG SHS SERIES SER -A- CL A		2024-11-11	2025-07-09
	11. O'REILLY AUTOMOTIVE INC		2024-11-11	2025-07-09
	5. PROGRESSIVE CORP OHIO COM		2024-11-11	2025-07-09
	1. TRANSDIGM GROUP INC COM		2024-11-11	2025-07-09
	9000. WELLS FARGO & COMPANY SUBD SER GMTN GLB		2024-11-13	2025-07-09
	17. ARCH CAP GROUP LTD COM NEW BERMUDA		2024-11-11	2025-07-09
	5000. CVS HEALTH CORP GLB		2024-11-13	2025-07-10
	2. HEICO CORP NEW CL A		2024-11-11	2025-07-10
	2. LIBERTY MEDIA CORP REG SHS SERIES SER -A- CL A		2024-11-11	2025-07-10
	8. ARCH CAP GROUP LTD COM NEW BERMUDA		2024-11-11	2025-07-10
	7000. SHIRE ACQ INV IRELAND DA COMPANY GUARNT GLB		2024-11-13	2025-07-14
	3. CONSTELLATION ENERGY CORP REG SHS		2024-11-11	2025-07-15
	4. LUMH MOET HENNESSY LOUIS VUITTON		2025-02-12	2025-07-15
	5. LUMH MOET HENNESSY LOUIS VUITTON		2024-11-11	2025-07-15
	4. LUMH MOET HENNESSY LOUIS VUITTON		2024-11-13	2025-07-15
	5. ANSYS INC		2024-11-11	2025-07-17
	3. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-07-28
	1. GARTNER GROUP INC NEW CL A		2024-11-11	2025-07-28
	1. PERIMETER SOLUTIONS INC REG SHS		2024-11-11	2025-07-28
	1. SYNOPSYS INC		2025-07-17	2025-07-28
	1. ARCH CAP GROUP LTD COM NEW BERMUDA		2024-11-11	2025-07-28
	4. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-07-29
	1. GARTNER GROUP INC NEW CL A		2024-11-11	2025-07-29
	9. PERIMETER SOLUTIONS INC REG SHS		2024-11-11	2025-07-29
	3. VAIL RESORTS INC COM		2024-11-11	2025-07-29
	5000. CVS HEALTH CORP GLB		2024-11-13	2025-07-30
	4. VAIL RESORTS INC COM		2024-11-11	2025-07-30
	588.19 FHLMC SD 6653 03 50%2053		2024-11-14	2025-07-31
	531.18 FHLMC SD 8213 03%2052		2024-11-14	2025-07-31
	227.66 FHLMC SD 8438 05 50%2054		2024-11-14	2025-07-31
	278.41 FNMA PFS6605 02%2052		2024-11-14	2025-07-31
	423.84 FNMA PFS9366 02 50%2052		2024-11-14	2025-07-31
	10000. PARKER-HANNIFIN CORP -		2024-11-13	2025-07-31
	2. VAIL RESORTS INC COM		2024-11-11	2025-07-31
	25000. TRUIST FINANCIAL CORP SER MTN		2024-11-13	2025-08-05
	1000. U.S. TREASURY NOTE 1.625% MAY 15 2031		2024-11-13	2025-08-12
	1000. U.S. TREASURY NOTE 1.875% FEB 15 2032		2024-11-13	2025-08-12
	1000. U.S. TREASURY NOTE 2.750% JUL 31 2027		2024-11-13	2025-08-12
	1000. U.S. TREASURY NOTE 3.125% AUG 31 2027		2024-11-13	2025-08-12
	1000. U.S. TREASURY NOTE 3.625% MAR 31 2030		2025-03-11	2025-08-12
	1000. U.S. TREASURY NOTE 3.875% AUG 15 2033		2024-11-13	2025-08-12
	1000. U.S. TREASURY NOTE 3.625% AUG 31 2029		2025-03-19	2025-08-12
	1000. UNITEDHEALTH GROUP INC GLB		2024-11-13	2025-08-12
	6. BROOKFIELD ASSET MGMT LTD REGISTER		2024-11-11	2025-08-14
	23. CARMAX INC		2024-11-11	2025-08-14
	5. GARTNER GROUP INC NEW CL A		2024-11-11	2025-08-14
	4. KKR & CO INC CL A		2024-11-11	2025-08-14
	5. O'REILLY AUTOMOTIVE INC		2024-11-11	2025-08-14
	6. VAIL RESORTS INC COM		2024-11-11	2025-08-14
	4. ARCH CAP GROUP LTD COM NEW BERMUDA		2024-11-11	2025-08-14
	6. COSTAR GROUP INC		2024-11-11	2025-08-28
	4. GARTNER GROUP INC NEW CL A		2024-11-11	2025-08-28
	3. GARTNER GROUP INC NEW CL A		2024-11-11	2025-08-29
	22.88 FHLMC SD 6647 03 50%2052		2025-08-07	2025-08-31
	537.51 FHLMC SD 6653 03 50%2053		2024-11-14	2025-08-31
	469.15 FHLMC SD 8213 03%2052		2024-11-14	2025-08-31
	266.18 FHLMC SD 8438 05 50%2054		2024-11-14	2025-08-31
	13.89 FNMA PFS4815 03%2052		2025-08-07	2025-08-31
	320.54 FNMA PFS6605 02%2052		2024-11-14	2025-08-31
	15.58 FNMA PFS7879 02 50%2052		2025-08-07	2025-08-31
	7.79 FNMA PFS9860 02%2052		2025-08-08	2025-08-31
	241.48 FNMA PFS9366 02 50%2052		2024-11-14	2025-08-31
	16.34 FHLMC RQ 0040 05 50%2055		2025-08-07	2025-08-31
	1000. U.S. TREASURY NOTE 2.250% NOV 15 2025		2024-11-13	2025-09-09
	8000. UNITEDHEALTH GROUP INC GLB		2024-11-13	2025-09-11
	6. PROGRESSIVE CORP OHIO COM		2024-11-11	2025-09-18
	23.95 FHLMC SD 6647 03 50%2052		2025-08-07	2025-09-30
	454.02 FHLMC SD 6653 03 50%2053		2024-11-14	2025-09-30
	426.17 FHLMC SD 8213 03%2052		2024-11-14	2025-09-30
	479.27 FHLMC SD 8438 05 50%2054		2024-11-14	2025-09-30
	11.84 FNMA PFS4815 03%2052		2025-08-07	2025-09-30
	275.04 FNMA PFS6605 02%2052		2024-11-14	2025-09-30
	14.47 FNMA PFS7879 02 50%2052		2025-08-07	2025-09-30
	7.57 FNMA PFS9860 02%2052		2025-08-08	2025-09-30
	424.32 FNMA PFS9366 02 50%2052		2024-11-14	2025-09-30
	15.84 FHLMC RQ 0040 05 50%2055		2025-08-07	2025-09-30
	17000. U.S. TREASURY NOTE 1.625% MAY 15 2031		2024-11-13	2025-10-01
	.7 SYNOPSYS INC		2025-07-17	2025-10-09
	15. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-10-17
	1. COSTAR GROUP INC		2024-11-11	2025-10-17
	1. VERISK ANALYTICS INC CLASS A		2024-11-11	2025-10-17
	1000. ABBVIE INC GLB		2024-11-13	2025-10-21
	1000. U.S. TREASURY NOTE 2.750% MAY 31 2029		2024-11-13	2025-10-21
	2. AIR PRODUCTS AND CHEMICALS INC		2024-11-11	2025-10-28
	13. BERKLEY W R CORP		2024-11-11	2025-10-31
	.5 BROOKFIELD CORP INC REGISTER		2024-11-11	2025-10-31
	28. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-10-31
	10.96 FHLMC SD 6647 03 50%2052		2025-08-07	2025-10-31
	585.56 FHLMC SD 6653 03 50%2053		2024-11-14	2025-10-31
	449.25 FHLMC SD 8213 03%2052		2024-11-14	2025-10-31
	860.86 FHLMC SD 8438 05 50%2054		2024-11-14	2025-10-31
	15.04 FNMA PFS4815 03%2052		2025-08-07	2025-10-31
	195.86 FNMA PFS6605 02%2052		2024-11-14	2025-10-31
	14.86 FNMA PFS7879 02 50%2052		2025-08-07	2025-10-31
	3.98 FNMA PFS9860 02%2052		2025-08-08	2025-10-31
	449.92 FNMA PFS9366 02 50%2052		2024-11-14	2025-10-31
	16.43 FHLMC RQ 0040 05 50%2055		2025-08-07	2025-10-31
	8000. ABBVIE INC GLB		2024-11-13	2025-11-05
	1000. UBER TECHNOLOGIES INC GLB		2025-02-13	2025-11-05
	3000. UBER TECHNOLOGIES INC GLB		2025-02-11	2025-11-05
	1000. UBER TECHNOLOGIES INC GLB		2025-02-12	2025-11-05
	26000. U.S. TREASURY NOTE 2.250% NOV 15 2025		2024-11-13	2025-11-15
	5. INVESCO QQQ TR SER 1		2020-02-03	2025-11-19
	170. INVESCO QQQ TR SER 1		2020-01-08	2025-11-19
	1. AIR PRODUCTS AND CHEMICALS INC		2025-01-30	2025-11-21
	6. BERKLEY W R CORP		2024-11-11	2025-11-21
	16. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-11-21
	9000. U.S. TREASURY NOTE 3.875% AUG 15 2033		2024-11-13	2025-11-21
	1. ARCH CAP GROUP LTD COM NEW BERMUDA		2024-11-11	2025-11-21
	27319.17 FHLMC SD 8213 03%2052		2024-11-14	2025-11-24
	16. CHIPOTLE MEXICAN GRILL		2024-11-11	2025-11-25
	20.16 FHLMC SD 6647 03 50%2052		2025-08-07	2025-11-30
	628.58 FHLMC SD 6653 03 50%2053		2024-11-14	2025-11-30
	260.57 FHLMC SD 8213 03%2052		2024-11-14	2025-11-30
	667.15 FHLMC SD 8438 05 50%2054		2024-11-14	2025-11-30
	14.47 FNMA PFS4815 03%2052		2025-08-07	2025-11-30
	201.75 FNMA PFS6605 02%2052		2024-11-14	2025-11-30
	13.97 FNMA PFS7879 02 50%2052		2025-08-07	2025-11-30
	4.85 FNMA PFS9860 02%2052		2025-08-08	2025-11-30
	287.94 FNMA PFS9366 02 50%2052		2024-11-14	2025-11-30
	20.64 FHLMC RQ 0040 05 50%2055		2025-08-07	2025-11-30
	3000. BROADCOM INC GLB		2025-07-14	2025-12-09
	2000. BROADCOM INC GLB		2025-07-11	2025-12-09
	9. NETFLIX.COM INC COM		2024-11-11	2025-12-09
	1. UNITEDHEALTH GROUP INC		2024-11-11	2025-12-09
	5. ZOETIS INC		2024-11-11	2025-12-09
	2000. AT&T INC GLB		2025-10-02	2025-12-11
	1000. AT&T INC GLB		2025-10-03	2025-12-11
	3000. CITIGROUP INC GLB		2025-12-01	2025-12-11
	3000. CITIGROUP INC GLB		2025-09-09	2025-12-11
	6000. DELL INT LLC / EMC CORP COMPANY GUARNT GLB		2025-04-15	2025-12-18
	4. BERKSHIRE HATHAWAYINC DEL CL B NEW		2024-11-11	2025-12-19
	10. CHIPOTLE MEXICAN GRILL		2025-02-05	2025-12-19
	10. CHIPOTLE MEXICAN GRILL		2025-02-18	2025-12-19
	16. NUTANIX INC		2024-11-11	2025-12-19
	6. PALO ALTO NETWORKS INC COM		2024-11-11	2025-12-19
	6. VALERO ENERGY CORP - NEW		2024-11-11	2025-12-19
	18. BROOKFIELD CORP INC REGISTER		2024-11-11	2025-12-22
	6. HILTON WORLDWIDE HOLDINGS INC REG		2024-11-11	2025-12-22
	1. IDEXX LABS INC		2025-08-14	2025-12-22
	9.73 FHLMC RQ 0056 05 50%2055		2025-12-16	2025-12-25
	140.87 FHLMC RR 0036 04%2040		2025-11-24	2025-12-25
	18.68 FHLMC SD 6647 03 50%2052		2025-08-07	2025-12-31
	495.1 FHLMC SD 6653 03 50%2053		2024-11-14	2025-12-31
	271.43 FHLMC SD 8213 03%2052		2024-11-14	2025-12-31
	544.52 FHLMC SD 8438 05 50%2054		2024-11-14	2025-12-31
	24.12 FNMA PFS4815 03%2052		2025-08-07	2025-12-31
	337.78 FNMA PFS6605 02%2052		2024-11-14	2025-12-31
	16.12 FNMA PFS7879 02 50%2052		2025-08-07	2025-12-31
	5.42 FNMA PFS9860 02%2052		2025-08-08	2025-12-31
	301.13 FNMA PFS9366 02 50%2052		2024-11-14	2025-12-31
	22.34 FHLMC RQ 0056 05 50%2055		2025-11-24	2025-12-31
	33.08 FHLMC RQ 0040 05 50%2055		2025-08-07	2025-12-31
	174.47 FHLMC RR 0036 04%2040		2025-11-24	2025-12-31
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	415	404	11
b	454	537	-83
c	1,565	1,559	6
d	1,461	1,537	-76
e	287	355	-68
	349	348	1
	308	307	1
	124	131	-7
	41	43	-2
	835	775	60
	1,036	1,349	-313
	246	261	-15
	1,200	1,329	-129
	467	507	-40
	422	377	45
	422	363	59
	178	176	2
	178	140	38
	305	253	52
	1,695	2,112	-417
	485	537	-52
	2,252	2,756	-504
	1,039	1,036	3
	3,110	3,108	2
	4,850	4,841	9
	1,831	2,012	-181
	599	615	-16
	228	230	-2
	520	551	-31
	284	310	-26
	142	155	-13
	828	1,056	-228
	378	405	-27
	2,509	2,953	-444
	1,850	2,484	-634
	53	64	-11
	507	540	-33
	473	537	-64
	1,179	1,377	-198
	198	209	-11
	1,129	931	198
	1,247	1,478	-231
	4,884	4,966	-82
	202	264	-62
	859	921	-62
	17,000	16,893	107
	1,725	1,844	-119
	413	447	-34
	331	296	35
	332	285	47
	159	157	2
	218	171	47
	403	334	69
	22,951	22,672	279
	198	205	-7
	1,321	1,371	-50
	2,934	2,933	1
	6,843	6,845	-2
	1,284	1,298	-14
	398	384	14
	460	459	1
	429	551	-122
	420	409	11
	641	572	69
	421	362	59
	252	250	2
	171	134	37
	317	263	54
	496	880	-384
	525	675	-150
	5,933	5,878	55
	363	337	26
	114	112	2
	516	611	-95
	119	113	6
	536	523	13
	1,112	1,418	-306
	2,892	3,642	-750
	688	614	74
	511	438	73
	297	294	3
	187	147	40
	252	209	43
	1,061	1,064	-3
	5,304	5,319	-15
	4,020	3,971	49
	1,006	993	13
	1,413	1,603	-190
	194	163	31
	702	627	75
	566	486	80
	280	278	2
	221	174	47
	393	325	68
	856	870	-14
	323	337	-14
	592	687	-95
	238	204	34
	537	523	14
	475	409	66
	470	498	-28
	812	724	88
	515	442	73
	246	244	2
	257	202	55
	487	403	84
	543	927	-384
	1,044	1,033	11
	615	683	-68
	871	823	48
	4,178	4,132	46
	395	551	-156
	493	409	84
	205	163	42
	92	76	16
	1,010	908	102
	1,258	1,306	-48
	1,518	1,371	147
	8,974	8,896	78
	1,511	1,723	-212
	5,107	5,005	102
	486	409	77
	187	151	36
	698	811	-113
	6,895	6,830	65
	952	711	241
	443	570	-127
	554	641	-87
	443	487	-44
	1,970	1,723	247
	203	176	27
	353	551	-198
	17	14	3
	592	571	21
	87	101	-14
	269	235	34
	352	551	-199
	147	126	21
	469	542	-73
	5,099	5,005	94
	617	722	-105
	588	525	63
	531	456	75
	228	226	2
	278	219	59
	424	351	73
	9,982	9,907	75
	303	361	-58
	25,000	24,396	604
	883	847	36
	879	846	33
	981	962	19
	988	971	17
	992	981	11
	983	961	22
	994	984	10
	975	962	13
	371	344	27
	1,332	1,756	-424
	1,210	2,755	-1,545
	581	620	-39
	510	413	97
	915	1,083	-168
	362	405	-43
	540	461	79
	990	2,204	-1,214
	746	1,653	-907
	23	21	2
	538	480	58
	469	403	66
	266	264	2
	14	12	2
	321	253	68
	16	13	3
	8	6	2
	241	200	41
	16	16
	997	980	17
	7,974	7,695	279
	1,451	1,568	-117
	24	22	2
	454	405	49
	426	366	60
	479	475	4
	12	10	2
	275	217	58
	14	12	2
	8	6	2
	424	351	73
	16	16
	15,170	14,400	770
	334	400	-66
	662	588	74
	74	77	-3
	233	287	-54
	995	981	14
	975	937	38
	511	625	-114
	924	792	132
	23	20	3
	1,279	1,098	181
	11	10	1
	586	523	63
	449	386	63
	861	853	8
	15	13	2
	196	154	42
	15	12	3
	4	3	1
	450	372	78
	16	16
	7,962	7,847	115
	996	967	29
	2,987	2,886	101
	996	957	39
	26,000	25,470	530
	2,996	1,113	1,883
	101,862	37,034	64,828
	257	331	-74
	470	366	104
	714	627	87
	9,000	8,649	351
	93	101	-8
	24,237	23,452	785
	527	935	-408
	20	18	2
	629	561	68
	261	224	37
	667	661	6
	14	13	1
	202	159	43
	14	12	2
	5	4	1
	288	238	50
	21	21
	3,038	3,006	32
	2,025	2,003	22
	865	722	143
	324	625	-301
	581	880	-299
	1,755	1,762	-7
	877	881	-4
	3,064	3,069	-5
	3,064	3,066	-2
	6,173	5,927	246
	1,989	1,873	116
	378	576	-198
	378	558	-180
	839	1,125	-286
	1,123	1,189	-66
	975	821	154
	828	706	122
	1,755	1,501	254
	700	653	47
	10	10
	141	139	2
	19	17	2
	495	442	53
	271	233	38
	545	540	5
	24	21	3
	338	266	72
	16	13	3
	5	4	1
	301	249	52
	22	23	-1
	33	33
	174	172	2
			4
			4
			4
			4
			4
			4
			4
			4
			4
			4
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			4
			4
			4
			4

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			11
b			-83
c			6
d			-76
e			-68
			1
			1
			-7
			-2
			60
			-313
			-15
			-129
			-40
			45
			59
			2
			38
			52
			-417
			-52
			-504
			3
			2
			9
			-181
			-16
			-2
			-31
			-26
			-13
			-228
			-27
			-444
			-634
			-11
			-33
			-64
			-198
			-11
			198
			-231
			-82
			-62
			-62
			107
			-119
			-34
			35
			47
			2
			47
			69
			279
			-7
			-50
			1
			-2
			-14
			14
			1
			-122
			11
			69
			59
			2
			37
			54
			-384
			-150
			55
			26
			2
			-95
			6
			13
			-306
			-750
			74
			73
			3
			40
			43
			-3
			-15
			49
			13
			-190
			31
			75
			80
			2
			47
			68
			-14
			-14
			-95
			34
			14
			66
			-28
			88
			73
			2
			55
			84
			-384
			11
			-68
			48
			46
			-156
			84
			42
			16
			102
			-48
			147
			78
			-212
			102
			77
			36
			-113
			65
			241
			-127
			-87
			-44
			247
			27
			-198
			3
			21
			-14
			34
			-199
			21
			-73
			94
			-105
			63
			75
			2
			59
			73
			75
			-58
			604
			36
			33
			19
			17
			11
			22
			10
			13
			27
			-424
			-1,545
			-39
			97
			-168
			-43
			79
			-1,214
			-907
			2
			58
			66
			2
			2
			68
			3
			2
			41

			17
			279
			-117
			2
			49
			60
			4
			2
			58
			2
			2
			73

			770
			-66
			74
			-3
			-54
			14
			38
			-114
			132
			3
			181
			1
			63
			63
			8
			2
			42
			3
			1
			78

			115
			29
			101
			39
			530
			1,883
			64,828
			-74
			104
			87
			351
			-8
			785
			-408
			2
			68
			37
			6
			1
			43
			2
			1
			50

			32
			22
			143
			-301
			-299
			-7
			-4
			-5
			-2
			246
			116
			-198
			-180
			-286
			-66
			154
			122
			254
			47

			2
			2
			53
			38
			5
			3
			72
			3
			1
			52
			-1

			2

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	60,977
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 .........................		3

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	2,009
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	2,009
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	2,009
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	964
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	964
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. List of Attached Documents: // Content		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	1,045
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2026 estimated tax0	Refunded	11	0
	For Refunded amount, also complete and attach Form 8050. See instructions.

Form 990-PF (2025)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. $ (2) On foundation managers.$

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers.$

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument? ................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XIV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2025 or the taxable year beginning in 2025? See the instructions for Part XIII.

If "Yes," complete Part XIII .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Website address

The books are in care ofBANK OF AMERICA NA Telephone no. (888) 866-3275

Located atPO BOX 653067DALLASTX ZIP+4752653067

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........

and enter the amount of tax-exempt interest received or accrued during the year ........

16 At any time during calendar year 2025, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country

Form 990-PF (2025)

Page 5

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............

1a(4)

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........

Organizations relying on a current notice regarding disaster assistance check here ........

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2025? .............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2025, did the foundation have any undistributed income (Part XII, lines 6d

and 6e) for tax year(s) beginning before 2025?....................

If "Yes," list the years 20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

If "Yes," did it have excess business holdings in 2025 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Form 4720, Schedule C, to determine

if the foundation had excess business holdings in 2025.).....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2025? ..

Form 990-PF (2025)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions ........................

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check .........

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant? .................

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .........................

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
SUSAN I MARVIN	TRUSTEE 1	0
PO BOX 100 WARROAD,MN56763	TRUSTEE 1	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2025)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. right arrow

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3.........................

Form 990-PF (2025)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

6,093,179

Average of monthly cash balances.......................

118,391

Fair market value of all other assets (see instructions)................

Total (add lines 1a, 1b, and 1c).......................

6,211,570

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

6,211,570

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

93,174

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

6,118,396

Minimum investment return. Enter 5% (0.05) of line 5 ................

305,920

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here and do not complete this part.)

Minimum investment return from Part IX, line 6..................

305,920

Tax on investment income for 2025 from Part V, line 5 .......

2,009

Income tax for 2025. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

2,009

Distributable amount before adjustments. Subtract line 2c from line 1............

303,911

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

303,911

Deduction from distributable amount (see instructions) .................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

303,911

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, line 26, column (d) ..........

255,484

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

255,484

Form 990-PF (2025)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2024	(c) 2024	(d) 2025
1 Distributable amount for 2025 from Part X, line 7					303,911
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......				237,880
b Total for prior years:20 , 20, 20			0
3 Excess distributions carryover, if any, to 2025:
a From 2020......	0
b From 2021......	0
c From 2022......	0
d From 2023......	0
e From 2024......	0
f Total of lines 3a through e ........		0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 255,484
a Applied to 2024, but not more than line 2a				237,880
b Applied to undistributed income of prior years (Election required—see instructions) .....			0
c Treated as distributions out of corpus (Election required—see instructions) ........		0
d Applied to 2025 distributable amount.....					17,604
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2025.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2024. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2025. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2026 ..........					286,307
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2020 not applied on line 5 or line 7 (see instructions) ...		0
9 Excess distributions carryover to 2026. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2021 ....	0
b Excess from 2022 ....	0
c Excess from 2023 ....	0
d Excess from 2024 ....	0
e Excess from 2025 ....	0

Form 990-PF (2025)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2025, enter the date of the ruling ......

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part IX for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2025	(b) 2024	(c) 2023	(d) 2022	(e) Total

b 85% (0.85) of line 2a .......
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, 3b, or 3c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XIV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

SUSAN I MARVIN

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

NONE

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, 2b, 2c, and 2d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2025)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
WARROAD FOOD PANTRY INC PO BOX 15 WARROAD,MN56763	N/A		UNRESTRICTED GENERAL	10,000
UNIVERSITY OF ST THOMAS 900 NICOLLET AVENUE MINNEAPOLIS,MN55402	N/A		UNRESTRICTED GENERAL	80,000
MINNESOTA CHAMBER FOUNDATION 380 SAINT PETER STREET SAINT PAUL,MN551022436	N/A		UNRESTRICTED GENERAL	5,000
UNIVERSITY OF MINNESOTA FOUNDATION 51 E RIVER PKWY MINNEAPOLIS,MN55455	N/A		SUSAN I. MARVIN SCHOLARSHIP	102,000
WARROAD COMMUNITY CHILDCARE CENTER 203 LIBERTY AVENUE NW WARROAD,MN56763	N/A		UNRESTRICTED GENERAL	10,400
NORTHWEST MINNESOTA COMMUNITY IMPACT 201 3RD STREET NW BEMIDJI,MN566013111	N/A		UNRESTRICTED GENERAL	35,000
Total ................................. 3a				242,400

bApproved for future payment

Total ................................. 3b

Form 990-PF (2025)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities ....			14	106,888
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	60,977
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				167,865

13Total. Add line 12, columns (b), (d), and (e)..................

167,865

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2025)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2025)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
00206RKH4 AT&T INC GLB	5,285	5,262
00287YAY5 ABBVIE INC GLB	7,847	7,982
023608AR3 AMEREN CORP GLB	5,141	5,138
05526DCC7 BAT CAPITAL CORP COM	6,043	6,250
20030NEP2 COMCAST CORP COMPANY	5,012	5,112
25278XBC2 DIAMONDBACK ENERGY I	4,998	5,139
30303MAD4 META PLATFORMS INC G	8,042	7,989
37045XED4 GENERAL MOTORS FINL	6,472	6,478
373334KY6 GEORGIA POWER CO GLB	10,119	10,160
37940XAY8 GLOBAL PAYMENTS INC	8,014	7,951
38141GWB6 GOLDMAN SACHS GROUP	9,807	9,991
404119CK3 HCA INC COMPANY GUAR	9,830	10,390
822905AC9 SHELL FINANCE US INC	8,702	8,639
94974BGL8 WELLS FARGO & COMPAN	7,908	8,031
958667AG2 WESTERN MIDSTREAM OP	5,043	5,036
02557TAE9 AMERICAN ELECTRIC PO	994	993
14040HDJ1 CAPITAL ONE FINANCIA	5,041	5,219
46647PEU6 JPMORGAN CHASE & CO	16,118	16,297
61747YFT7 MORGAN STANLEY GLB	10,005	10,294
693475BR5 PNC FINANCIAL SERVIC	9,301	9,334
808513CH6 CHARLES SCHWAB CORP	6,321	6,540
95000U3P6 WELLS FARGO & COMPAN	8,176	8,284
3140XLK56 FNMA PFS4815 03%	2,199	2,249
3140XNKT0 FNMA PFS6605 02%	39,161	40,276
3140XPXH7 FNMA PFS7879 02 50%	2,253	2,306
3140XRMQ5 FNMA PFS9366 02 50%	37,399	38,532
3140XR5W1 FNMA PFS9860 02%	740	758
3132DUL47 FHLMC SD 6647 03 50%	3,374	3,463
3132DUMA2 FHLMC SD 6653 03 50%	75,903	78,981
3132DWDS9 FHLMC SD 8213 03%	37,713	39,077
3132DWLT8 FHLMC SD 8438 05 50%	28,199	28,898
3142JCBE9 FHLMC RR 0036 04%	24,442	24,463
3142J6BJ1 FHLMC RQ 0040 05 50%	1,928	1,951
3142J6B28 FHLMC RQ 0056 05 50%	1,974	1,977
0641594A1 BANK OF NOVA SCOTIA	13,301	13,834
76720AAU0 RIO TINTO FIN USA PL	5,057	5,152
78081BAU7 ROYALTY PHARMA PLC C	4,974	5,025

Name of Stock	End of Year Book Value	End of Year Fair Market Value
78464A870 SS SPDR SP BIOTECH E	2,721	3,170
29444U700 EQUINIX INC	921	766
74340W103 PROLOGIS INC	1,502	1,660
16411R208 CHENIERE ENERGY	1,259	1,166
166764100 CHEVRON CORP	2,047	1,981
30231G102 EXXON MOBIL CORP	2,916	2,888
91913Y100 VALERO ENERGY CORP N	821	977
26614N102 DUPONT DE NEMOURS	790	925
35671D857 FREEPORT-MCMORAN INC	2,019	2,438
74743L100 QNITY ELECTRONICS IN	1,132	939
G29183103 EATON CORP PLC	2,586	2,230
097023105 BOEING COMPANY	690	651
244199105 DEERE CO	795	931
369604301 GE AEROSPACE	1,518	2,464
74762E102 QUANTA SERVICES INC	3,320	4,221
75513E101 RTX CORP CORP	2,248	3,301
88579Y101 3M COMPANY	1,638	1,921
90353T100 UBER TECHNOLOGIES IN	1,048	1,144
907818108 UNION PACIFIC CORP	1,226	1,157
92537N108 VERTIV HLDG CO	2,773	4,374
94106L109 WASTE MANAGEMENT INC	2,476	2,417
023135106 AMAZON COM INC COM	8,887	9,925
37045V100 GENERAL MOTORS CO CO	1,211	1,870
43300A203 HILTON WORLDWIDE HOL	1,539	1,724
437076102 HOME DEPOT INC	3,274	2,753
580135101 MCDONALDS CORP	2,421	2,445
88160R101 TESLA INC	4,065	5,397
191216100 COCA COLA COM	2,039	2,237
22160K105 COSTCO WHOLESALE CRP	3,687	3,449
609207105 MONDELEZ INTERNATION	1,855	1,507
742718109 PROCTER & GAMBLE CO	1,839	1,576
871829107 SYSCO CORPORATION	2,109	1,990
931142103 WALMART INC	2,378	3,119
002824100 ABBOTT LABS	2,704	2,882
046353108 ASTRAZENECA PLC SPND	1,621	2,298
075887109 BECTON DICKINSON CO	1,878	1,553
101137107 BOSTON SCIENTIFIC CO	2,562	2,765
478160104 JOHNSON AND JOHNSON	1,722	2,276
532457108 ELI LILLY & CO	1,676	2,149
58933Y105 MERCK AND CO INC SHS	1,324	1,368
883556102 THERMO FISHER SCIENT	2,736	2,897
91324P102 UNITEDHEALTH GROUP I	2,499	1,320
084670702 BERKSHIRE HATHAWAYIN	3,747	4,021
09260D107 BLACKSTONE INC	2,897	2,466
09290D101 BLACKROCK INC REG SH	2,118	2,141
14040H105 CAPITAL ONE FINL	2,127	2,424
46625H100 JPMORGAN CHASE & CO	4,590	6,122
48251W104 KKR & CO INC C	2,791	2,295
57636Q104 MASTERCARD INC	2,214	2,284
617446448 MORGAN STANLEY	3,069	4,083
693475105 PNC FINCL SERVICES G	1,665	1,670
92826C839 VISA INC CL A SHRS	4,365	4,910
949746101 WELLS FARGO & CO	2,583	2,982
N07059210 ASML HLDG NV NY REG	2,085	3,210
037833100 APPLE INC	14,952	18,215
11135F101 BROADCOM INC	8,210	15,921
17275R102 CISCO SYSTEMS INC	1,475	1,926
573874104 MARVELL TECH INC	2,921	2,719
594918104 MICROSOFT CORP	14,334	16,443
67066G104 NVIDIA	16,392	21,075
69608A108 PALANTIR TECHNOLOGIE	2,128	1,955
697435105 PALO ALTO NETWORKS I	4,360	4,052
79466L302 SALESFORCE INC	3,708	2,914
00206R102 AT&T INC	2,075	2,310
02079K305 ALPHABET INC SHS	8,810	15,337
254687106 DISNEY (WALT) CO COM	803	910
30303M102 META PLATFORMS INC C	5,221	5,941
21037T109 CONSTELLATION ENERGY	474	707
65339F101 NEXTERA ENERGY INC S	1,994	2,087
816851109 SEMPRA	2,302	2,207
92840M102 VISTRA CORP	1,014	1,129
81369Y506 ST STRT ENERGY SLCT	5,444	5,097
78464A870 SS SPDR SP BIOTECH E	3,244	3,780
29444U700 EQUINIX INC	921	766
74340W103 PROLOGIS INC	1,849	2,043
15643U104 CENTRUS ENERGY CORP	519	728
35671D857 FREEPORT-MCMORAN INC	2,055	2,336
553368101 MP MATERIALS CORP RE	528	404
G29183103 EATON CORP PLC	1,478	1,274
097023105 BOEING COMPANY	869	868
244199105 DEERE CO	807	931
36828A101 GE VERNOVA INC	704	1,307
369604301 GE AEROSPACE	804	1,232
666807102 NORTHROP GRUMMAN COR	1,073	1,140
74762E102 QUANTA SERVICES INC	2,324	2,954
75513E101 RTX CORP CORP	1,873	2,751
90353T100 UBER TECHNOLOGIES IN	1,594	1,798
907818108 UNION PACIFIC CORP	1,727	1,619
92537N108 VERTIV HLDG CO	1,749	2,592
94106L109 WASTE MANAGEMENT INC	2,251	2,197
023135106 AMAZON COM INC COM	6,988	7,848
437076102 HOME DEPOT INC	4,092	3,441
654106103 NIKE INC CL B	1,537	1,274
88160R101 TESLA INC	3,135	4,047
22160K105 COSTCO WHOLESALE CRP	1,913	1,725
609207105 MONDELEZ INTERNATION	729	592
713448108 PEPSICO INC	2,147	1,866
931142103 WALMART INC	2,038	2,674
03073E105 CENCORA INC	1,503	2,027
09062W204 BIOLIFE SOLUTIONS IN	1,272	1,161
101137107 BOSTON SCIENTIFIC CO	3,976	4,291
46120E602 INTUITIVE SURGICAL I	1,161	1,133
532457108 ELI LILLY & CO	1,832	2,149
58933Y105 MERCK AND CO INC SHS	1,629	1,684
883556102 THERMO FISHER SCIENT	3,296	3,477
91324P102 UNITEDHEALTH GROUP I	1,874	990
09290D101 BLACKROCK INC REG SH	3,177	3,211
14040H105 CAPITAL ONE FINL	918	1,212
19260Q107 COINBASE GLOBAL INC	880	678
38141G104 GOLDMAN SACHS GROUP	4,232	6,153
48251W104 KKR & CO INC C	4,032	3,314
59156R108 METLIFE INC	1,908	1,816
617446448 MORGAN STANLEY	4,803	6,391
631103108 NASDAQ OMX GRP INC	895	1,068
693475105 PNC FINCL SERVICES G	1,457	1,461
902973304 US BANCORP	1,177	1,227
92826C839 VISA INC CL A SHRS	3,430	3,858
949746101 WELLS FARGO & CO	1,528	1,957
037833100 APPLE INC	12,051	14,680
03831W108 APPLOVIN CORP COM	542	674
11135F101 BROADCOM INC	5,879	11,421
17275R102 CISCO SYSTEMS INC	2,419	3,158
18915M107 CLOUDFLARE INC REG S	365	591
594918104 MICROSOFT CORP	11,383	13,058
67066G104 NVIDIA	15,486	19,956
69608A108 PALANTIR TECHNOLOGIE	696	1,778
697435105 PALO ALTO NETWORKS I	7,927	7,368
81762P102 SERVICENOW INC	936	766
L8681T102 SPOTIFY TECH S.A. RE	1,243	1,161
02079K305 ALPHABET INC SHS	7,192	12,520
254687106 DISNEY (WALT) CO COM	1,706	1,934
30303M102 META PLATFORMS INC C	4,635	5,281
64110L106 NETFLIX COM INC	1,685	1,969
030420103 AMERICAN WTR WKS CO	813	783
21037T109 CONSTELLATION ENERGY	1,444	2,120
65339F101 NEXTERA ENERGY INC S	1,304	1,365
009158106 AIR PRODUCTS&CHEM	3,122	2,470
26969P108 EAGLE MATERIALS INC	1,107	1,033
573284106 MARTIN MARIETTA MATL	11,561	11,831
71385M107 PERIMETER SOLUTIONS	1,525	3,138
929160109 VULCAN MATERIALS CO	16,841	16,828
031100100 AMETEK INC NEW	3,047	3,285
217204106 COPART INC	16,686	11,667
22160N109 COSTAR GROUP INC	9,517	8,338
311900104 FASTENAL COMPANY	4,451	4,254
384109104 GRACO INC	1,499	1,393
422806208 HEICO CORPORATION CL	15,710	19,437
893641100 TRANSDIGM GROUP INC	18,993	18,618
92338C103 VERALTO CORP REG SHS	730	698
92345Y106 VERISK ANALYTICS INC	2,295	1,790
94106B101 WASTE CONNECTIONS IN	3,332	3,156
25754A201 DOMINOS PIZZA INC	6,426	5,835
339750101 FLOOR AND DECOR HLDG	4,731	3,349
43300A203 HILTON WORLDWIDE HOL	15,256	17,522
448579102 HYATT HOTELS CORP	4,211	4,489
526057104 LENNAR CORP	8,688	5,448
67103H107 O'REILLY AUTOMOTIVE	13,534	14,958
778296103 ROSS STORES INC COM	2,161	2,702
45168D104 IDEXX LAB INC DEL $0	3,529	5,412
941848103 WATERS CORP	3,026	3,039
G0450A105 ARCH CAPITAL GRP LTD	3,820	3,645
03990B101 ARES MANAGEMENT CORP	5,633	5,334
084423102 W R BERKLEY CORP	1,208	1,402
11271J107 BROOKFIELD CORP INC	14,815	17,576
113004105 BROOKFIELD ASSET MGM	3,530	3,248
115236101 BROWN & BROWN INC FL	14,468	10,441
363576109 GALLAGHER ARTHUR J &	5,591	4,917
48251W104 KKR & CO INC C	17,187	14,278
50212V100 LPL FINANCIAL HOLDIN	6,157	6,072
570535104 MARKEL GROUP INC COM	8,306	10,748
615369105 MOODY'S CORP	2,388	2,554
78351F107 RYAN SPECIALTY HOLDI	2,447	1,910
M98068105 WIX COM LTD	1,717	1,039
03783C100 APPFOLIO INC SHS	2,571	2,559
12510Q100 CCC INTELLIGENT SOLU	4,047	2,902
29362U104 ENTEGRIS INC MINNESO	5,521	4,718
303250104 FAIR ISAAC CORPORATI	11,656	8,453
55354G100 MSCI INC CLASS A	7,730	7,458
74275K108 PROCORE TECHNOLOGIES	2,583	2,255
776696106 ROPER TECHNOLOGIES I	9,152	7,122
888787108 TOAST INC REG SHS	1,912	1,740
902252105 TYLER TECHS INC DEL	8,069	5,901
922475108 VEEVA SYS INC	7,887	7,590
530909308 LIBERTY LIVE HOLDING	1,660	1,580
531229755 LIBERTY MEDIA CORP R	4,087	4,926
531229771 LIBERTY MEDIA CORP R	2,161	2,413
538034109 LIVE NATION ENT INC	11,998	13,110
11276H106 BROOKFIELD INFRASTRU	10,368	11,032
11285B108 BROOKFIELD RENEWABLE	3,244	3,949
12504L109 CBRE GROUP INC CL A	11,156	13,024
464287101 ISHARES S&P 100	174,322	495,249
464287499 ISHARES RUSSELL MIDC	437,731	783,156
464287598 ISHARES RUSSELL 1000	240,568	306,255
464287614 ISHARES RUSSELL 1000	89,383	243,750
464287655 ISHARES TR RUSSELL 2	173,750	284,315
46429B689 ISHARES EDGE MSCI MI	160,063	198,806
921943858 VANGUARD FTSE DEVELO	329,363	483,205
922908363 VANGUARD 500 INDEX F	687,438	1,539,604
46090E103 INVESCO QQQ TR SE	76,307	285,654
14064D873 FULLERTHALER BEHAVIO	81,675	171,127

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
STATE FILING FEE	25	0		25
INVESTMENT EXPENSE	2	2		0

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
BANK OF AMERICA FEES	32,647	19,588		13,059
INVESTMENT FEES	1,107	1,107

Category	Amount	Net Investment Income
FOREIGN TAXES	49	49
EXCISE TAX - PRIOR YEAR	3,715	0
FEDERAL ESTIMATES - PRINCIPAL	964	0
FOREIGN TAXES ON QUALIFIED FOR	1,170	1,170
FOREIGN TAXES ON NONQUALIFIED	229	229