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
EMBERG CHARITABLE TRUST-MAIN

Number and street (or P.O. box number if mail is not delivered to street address) PO BOX 505 MAC H0006-092
Room/suite

City or town
SAINT LOUIS

State or province
MO

Country

ZIP or foreign postal code
63166

A Employer identification number

32-0639221

B Telephone number (see instructions)

8887304933

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)$7,228,908J 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...	179,478		166,391
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		219,352
b	Gross sales price for all assets on line 6a 724,053
7	Capital gain net income (from Part IV, line 2)...			219,352
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........	398,830		385,743
13	Compensation of officers, directors, trustees, etc.	79,109		58,559		19,777
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).......	List of Attached Documents: // Content	1,537	0	0	1,537
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	5,461	5,461		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	5,975	3,880		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..........	92,109		67,902	0	21,339
25	Contributions, gifts, grants paid.......	300,000				300,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	392,109		67,902	0	321,339
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	6,721
b	Net investment income (if negative, enter -0-)			317,841
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.........	561,852	306,599	306,599
	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)
	b	Investments—corporate stock (attach schedule).......	988,201	List of Attached Documents: // Content 1,072,808	2,140,805
	c	Investments—corporate bonds (attach schedule).......	539,274	List of Attached Documents: // Content 460,640	446,186
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	3,354,393	List of Attached Documents: // Content 3,603,557	4,335,318
	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)	5,443,720	5,443,604	7,228,908
	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........	5,443,720	5,443,604
	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).....	5,443,720	5,443,604
	30	Total liabilities and net assets/fund balances (see instructions).	5,443,720	5,443,604

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) ...............

5,443,720

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

6,721

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

List of Attached Documents:

// Content

1,413

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

5,451,854

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

List of Attached Documents:

// Content

8,250

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

5,443,604

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	25000. MAHNOMEN MN INDEP SC 3.000% 2/01/25		2019-03-28	2025-02-01
b	8. EAST WEST BANCORP INC		2021-11-16	2025-02-24
c	48. IPG PHOTONICS CORP			2025-02-24
d	10. JONES LANG LASALLE INC			2025-02-24
e	22. MIDDLEBY CORP			2025-02-24
	52. TETRA TECH INC NEW			2025-02-24
	5. CYBER-ARK SOFTWARE LTD/ISRAE		2021-12-17	2025-02-24
	4. BOOKING HOLDINGS INC		2019-03-28	2025-03-03
	15. CORPAY INC		2020-12-11	2025-03-03
	193. FORTUNE BRANDS INNOVATIONS INC			2025-03-03
	46. MORGAN STANLEY		2019-03-28	2025-03-03
	33. ACCENTURE PLC		2019-03-28	2025-03-03
	11. PENUMBRA INC			2025-03-18
	13. LIVE OAK BANCSHARES INC		2024-07-18	2025-03-19
	83. LIVE OAK BANCSHARES INC			2025-03-19
	32. ARISTA NETWORKS INC		2019-03-28	2025-03-21
	5. META PLATFORMS INC		2023-11-29	2025-03-21
	31. OKTA INC		2021-12-21	2025-03-21
	6. BURLINGTON STORES INC		2021-11-16	2025-05-27
	17. MYR GROUP INC/DELAWARE			2025-05-27
	9. PALOMAR HOLDINGS INC		2024-11-18	2025-05-27
	22. SENSIENT TECHNOLOGIES CORP		2021-11-16	2025-05-27
	73. YETI HOLDINGS INC		2024-05-17	2025-05-27
	42. ALPHABET INC CL C			2025-06-02
	8. AMAZON COM INC COM		2021-09-02	2025-06-02
	8. APPLE INC		2019-03-28	2025-06-02
	35. BOSTON SCIENTIFIC CORP COM		2019-03-28	2025-06-02
	7. BROADCOM INC		2019-03-28	2025-06-02
	66. CONSTELLATION BRANDS INC			2025-06-02
	18. INTERCONTINENTAL EXCHANGE INC		2019-03-28	2025-06-02
	7. NETFLIX.COM INC		2019-03-28	2025-06-02
	50000. BANK OF NOVA SCOTIA 1.300% 6/11/25		2021-11-10	2025-06-11
	102. ALLEGRO MICROSYSTEMS INC			2025-07-17
	9. HANOVER INS GROUP INC		2021-11-16	2025-07-17
	9. HENRY JACK & ASSOC INC COM		2024-05-17	2025-07-17
	5379.367 INV OPP DEVELOP MRKTS-R6 7038			2025-08-06
	116. CONFLUENT INC		2024-08-16	2025-08-22
	49. ESSENTIAL UTILITIES INC			2025-08-22
	11. ORMAT TECHNOLOGIES INC			2025-08-22
	5. WABTEC CORP		2020-12-24	2025-08-22
	48. ALIGN TECHNOLOGY INC		2024-12-11	2025-10-13
	40. ALIGN TECHNOLOGY INC			2025-10-13
	75. ALPHABET INC CL C		2019-03-28	2025-10-13
	133. ARISTA NETWORKS INC		2019-03-28	2025-10-13
	22. CADENCE DESIGN SYSTEMS INC			2025-10-13
	9. MICROSOFT CORP		2024-10-10	2025-10-13
	8. NETFLIX.COM INC		2019-03-28	2025-10-13
	178. TRIMBLE NAV LTD			2025-10-13
	69. VERTIV HOLDINGS LLC		2024-08-06	2025-10-13
	9. MYR GROUP INC/DELAWARE		2023-09-25	2025-11-19
	12. SITIME CORP		2025-02-24	2025-11-19
	5. STIFEL FINANCIAL CORP		2025-02-24	2025-11-19
	13. STIFEL FINANCIAL CORP		2021-11-16	2025-11-19
	11. NVENT ELECTRIC PLC-W/I		2024-05-17	2025-11-19
	7. CYBER-ARK SOFTWARE LTD/ISRAE		2021-12-17	2025-11-19
	26. ALPHABET INC CL C		2019-03-28	2025-12-11
	24. BROADCOM INC		2019-03-28	2025-12-11
	192. COSTAR GROUP, INC			2025-12-11
	49. NVIDIA CORP			2025-12-11
	33. POOL CORPORATION			2025-12-11
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	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	25,000	25,000
b	749	675	74
c	3,031	8,030	-4,999
d	2,625	2,349	276
e	3,674	3,817	-143
	1,561	1,666	-105
	1,866	841	1,025
	19,965	6,986	12,979
	5,554	4,096	1,458
	12,246	8,614	3,632
	6,019	1,917	4,102
	11,406	5,742	5,664
	3,017	2,703	314
	354	553	-199
	2,263	4,388	-2,125
	2,667	625	2,042
	2,970	1,663	1,307
	3,538	7,014	-3,476
	1,450	1,638	-188
	2,719	2,516	203
	1,455	958	497
	2,078	2,330	-252
	2,171	2,934	-763
	7,129	2,825	4,304
	1,644	1,385	259
	1,607	377	1,230
	3,627	1,319	2,308
	1,739	210	1,529
	11,404	12,346	-942
	3,226	1,336	1,890
	8,480	2,468	6,012
	50,000	49,953	47
	3,656	3,229	427
	1,469	1,162	307
	1,594	1,511	83
	229,161	225,009	4,152
	2,044	2,552	-508
	1,947	2,268	-321
	1,041	1,006	35
	984	366	618
	6,204	11,509	-5,305
	5,170	10,993	-5,823
	18,253	4,371	13,882
	19,469	2,598	16,871
	7,310	6,089	1,221
	4,620	3,740	880
	9,739	2,821	6,918
	13,657	11,202	2,455
	12,376	4,740	7,636
	1,977	1,237	740
	3,181	2,043	1,138
	586	520	66
	1,523	990	533
	1,158	876	282
	3,332	1,177	2,155
	8,165	1,515	6,650
	9,796	719	9,077
	12,907	16,500	-3,593
	8,881	8,989	-108
	7,965	5,695	2,270
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654
			118,654

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
b			74
c			-4,999
d			276
e			-143
			-105
			1,025
			12,979
			1,458
			3,632
			4,102
			5,664
			314
			-199
			-2,125
			2,042
			1,307
			-3,476
			-188
			203
			497
			-252
			-763
			4,304
			259
			1,230
			2,308
			1,529
			-942
			1,890
			6,012
			47
			427
			307
			83
			4,152
			-508
			-321
			35
			618
			-5,305
			-5,823
			13,882
			16,871
			1,221
			880
			6,918
			2,455
			7,636
			740
			1,138
			66
			533
			282
			2,155
			6,650
			9,077
			-3,593
			-108
			2,270

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	219,352
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	4,418
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	4,418
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	4,418
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	2,076
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	2,076
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	2,342
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?

Yes

Website address

The books are in care ofWELLS FARGO BANK NA Telephone no. (800) 352-3705

Located at100 N MAIN ST FL 5D4001-052WINSTON SALEMNC ZIP+427101

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)

Yes

(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
WELLS FARGO BANK N A	TRUSTEE 1	79,109
100 N MAIN ST FL 5D4001-052 WINSTON SALEM,NC27101	TRUSTEE 1	79,109

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...................

6,512,232

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

474,024

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

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

6,986,256

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.........................

6,986,256

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

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

104,794

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

6,881,462

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

344,073

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..................

344,073

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

4,418

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

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

4,418

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

339,655

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

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

339,655

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

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

339,655

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) ..........

321,339

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. .......

321,339

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					339,655
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......				294,206
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: $ 321,339
a Applied to 2024, but not more than line 2a				294,206
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.....					27,133
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 ..........					312,522
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).)

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.

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
MINNESOTA NORTH COLLEGE 1515 E 25TH ST HIBBING,MN55746	NONE		GENERAL OPERATING	200,000
MESABI RANGE COLLEGE FOUNDATION 1001 CHESTNUT ST W VIRGINIA,MN557923401	NONE		GENERAL OPERATING	50,000
NORTHCENTRAL TECHNICAL COLLEGE FOUNDATIO 1000 W CAMPUS DR WAUSAU,WI544011880	NONE		GENERAL OPERATING	50,000
Total ................................. 3a				300,000

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	179,478
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	219,352
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) ..				398,830

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

398,830

(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

- TIN:

TY 2025 AccountingFeesSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,537			1,537

- TIN:

TY 2025 InvestmentsCorpBondsSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Name of Bond	End of Year Book Value	End of Year Fair Market Value
550664CY0 LUVERNE MN INDEP SCH	25,487	25,437
64544PFW8 NEW HOPE MN	25,453	25,443
559873GD0 MAHNOMEN MN INDEP SC
015131ND3 ALEXANDRIA MN INDEP	25,823	25,676
85236DAK4 SAINT PAUL MN HSG &	25,502	25,373
036321M38 ANOKA MN	25,000	25,002
603827WS1 MINNEAPOLIS-SAINT PA	25,772	25,617
792909FA6 SAINT PAUL MN HSG &	26,714	25,772
60416H7V0 MINNESOTA ST HGR EDU	25,349	25,208
822582CD2 SHELL INTERNATIONAL	51,446	47,146
064159VL7 BANK OF NOVA SCOTIA
110122DP0 BRISTOL-MYERS SQUIBB	48,564	47,736
808513BT1 CHARLES SCHWAB CORP	49,329	43,784
31359MEU3 FED NATL MTG ASSN 6.	57,131	54,164
91282CEW7 US TREASURY NOTE 3.2	49,070	49,828

- TIN:

TY 2025 InvestmentsCorpStockSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Name of Stock	End of Year Book Value	End of Year Fair Market Value
73278L105 POOL CORPORATION
697435105 PALO ALTO NETWORKS I	5,332	24,683
45866F104 INTERCONTINENTAL EXC	6,681	14,576
64110L106 NETFLIX INC	6,296	16,877
513272104 LAMB WESTON HOLDINGS	4,508	2,890
29670G102 ESSENTIAL UTILITIES
252131107 DEXCOM INC	11,393	16,261
G1151C101 ACCENTURE PLC
122017106 BURLINGTON STORES IN	4,997	6,932
860630102 STIFEL FINANCIAL COR	2,345	5,009
759351604 REINSURANCE GROUP AM	3,115	5,290
44980X109 IPG PHOTONICS CORP
243537107 DECKERS OUTDOOR CORP	4,349	5,909
929740108 WABTEC CORP	1,464	4,269
81762P102 SERVICENOW INC	14,728	21,447
410867105 HANOVER INS GROUP IN	3,455	5,300
336433107 FIRST SOLAR INC	2,918	6,531
02079K107 ALPHABET INC CL C	23,776	128,030
48020Q107 JONES LANG LASALLE I	3,400	7,739
594918104 MICROSOFT CORP	44,447	153,308
892356106 TRACTOR SUPPLY CO CO	5,435	14,253
101137107 BOSTON SCIENTIFIC CO	9,608	24,314
532457108 ELI LILLY & CO COM	8,589	41,913
90384S303 ULTA BEAUTY INC	15,448	26,620
235851102 DANAHER CORP	16,420	24,952
21036P108 CONSTELLATION BRANDS
88162G103 TETRA TECH INC NEW	2,381	3,455
016255101 ALIGN TECHNOLOGY INC
428291108 HEXCEL CORP NEW COM	3,835	5,173
34964C106 FORTUNE BRANDS INNOV
445658107 HUNT J B TRANS SVCS	5,138	6,608
11135F101 BROADCOM INC	7,457	86,179
109194100 BRIGHT HORIZONS FAMI	6,278	5,070
533900106 LINCOLN ELECTRIC HOL	4,508	7,908
896239100 TRIMBLE INC	5,824	6,425
45688C107 INGEVITY CORP	5,503	4,912
89531P105 TREX COMPANY INC	6,344	2,561
037833100 APPLE INC	23,898	137,833
947890109 WEBSTER FINL CORP WA	6,881	9,126
79466L302 SALESFORCE INC	20,852	30,200
27579R104 EAST WEST BANCORP IN	6,101	10,789
893641100 TRANSDIGM GROUP INC	11,863	23,937
775133101 ROGERS CORP COM	4,122	2,472
67066G104 NVIDIA CORP	49,172	270,425
09857L108 BOOKING HOLDINGS INC
596278101 MIDDLEBY CORP	2,462	2,825
686688102 ORMAT TECHNOLOGIES I	3,471	4,640
92826C839 VISA INC-CLASS A SHR	20,991	47,697
70975L107 PENUMBRA INC	3,144	4,975
553498106 MSA SAFETY INC	4,520	4,964
023135106 AMAZON COM INC COM	48,471	113,794
278865100 ECOLAB INC	13,919	19,952
650111107 NEW YORK TIMES CO CL	6,000	8,330
617446448 MORGAN STANLEY	4,959	21,126
92532F100 VERTEX PHARMACEUTICA	8,290	20,401
983793100 XPO INC	7,627	24,328
169656105 CHIPOTLE MEXICAN GRI	15,353	17,760
50212V100 LPL FINANCIAL HOLDIN	1,558	5,358
05550J101 BJ'S WHOLESALE CLUB	2,753	5,402
30303M102 META PLATFORMS INC	21,478	79,211
78409V104 S&P GLOBAL INC	11,208	22,471
70438V106 PAYLOCITY HOLDING CO	7,580	5,033
81725T100 SENSIENT TECHNOLOGIE	2,548	3,194
M2682V108 CYBER-ARK SOFTWARE L	2,629	7,583
01749D105 ALLEGRO MICROSYSTEMS	3,230	3,456
358039105 FRESHPET INC	3,492	2,193
679295105 OKTA INC	31,858	23,520
45857P806 INTERCONTINENTAL HOT	2,122	5,211
038336103 APTARGROUP INC COM	3,347	3,781
53803X105 LIVE OAK BANCSHARES
29786A106 ETSY INC	6,084	3,160
589889104 MERIT MEDICAL SYS IN	5,179	7,227
237266101 DARLING INGREDIENTS	3,925	1,944
46120E602 INTUITIVE SURGICAL I	17,121	33,415
127387108 CADENCE DESIGN SYSTE	16,001	23,756
13646K108 CANADIAN PACIFIC KAN	19,839	20,322
25754A201 DOMINOS PIZZA INC	5,689	5,835
426281101 HENRY JACK & ASSOC I	4,313	4,927
55405W104 MYR GROUP INC/DELAWA	3,841	6,555
579780206 MCCORMICK & CO INC N	5,526	5,108
74834L100 QUEST DIAGNOSTICS IN	2,782	3,644
88339J105 TRADE DESK INC/THE	19,903	12,261
920253101 VALMONT INDS INC	5,462	7,644
G4705A100 ICON PLC	5,871	5,284
00724F101 ADOBE INC	33,859	25,199
02005N100 ALLY FINANCIAL INC	3,841	4,257
032654105 ANALOG DEVICES INC	18,429	21,967
040413205 ARISTA NETWORKS INC	8,725	33,282
053611109 AVERY DENNISON CORP	3,876	3,274
20717M103 CONFLUENT INC
219948106 CORPAY INC	13,768	15,648
22160N109 COSTAR GROUP, INC
23804L103 DATADOG INC	25,474	27,606
268150109 DYNATRACE INC	6,519	5,764
26856L103 ELF BEAUTY INC	3,741	2,509
29261A100 ENCOMPASS HEALTH COR	4,214	5,732
30063P105 EXACT SCIENCES CORP	2,426	4,164
64125C109 NEUROCRINE BIOSCIENC	17,614	18,580
69753M105 PALOMAR HOLDINGS INC	2,448	3,099
82982T106 SITIME CORP	3,197	8,123
89377M109 TRANSMEDICS GROUP IN	3,074	3,285
91324P102 UNITEDHEALTH GROUP I	26,114	16,836
92537N108 VERTIV HOLDINGS LLC	9,643	21,223
98585X104 YETI HOLDINGS INC
G0176J109 ALLEGION PLC	2,957	3,662
G6700G107 NVENT ELECTRIC PLC-W	3,387	4,487
056525108 BADGER METER INC	3,137	2,616
125896100 CMS ENERGY CORP	3,589	3,427
148929102 CAVA GROUP INC	3,629	2,289
316773100 FIFTH THIRD BANCORP	3,853	4,775
36828A101 GE VERNOVA INC	18,198	16,993
531229755 LIBERTY MEDIA CORP-L	3,224	3,251
65290E101 NEXTPOWER INC	2,521	3,223
68389X105 ORACLE CORPORATION	25,605	18,322
69370C100 PTC INC	3,391	2,962
85914M107 STEPSTONE GROUP INC	3,972	4,171
90353T100 UBER TECHNOLOGIES IN	23,682	25,248
922280102 VARONIS SYSTEMS INC	2,471	2,493
931142103 WALMART INC	16,055	18,048
941848103 WATERS CORP	3,763	3,798
L8681T102 SPOTIFY TECHNOLOGY S	20,694	17,421
M7S64H106 MONDAY.COM LTD	18,311	14,608

- TIN:

TY 2025 InvestmentsOtherSchedule2

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
133131102 CAMDEN PPTY TR SH BE	AT COST	2,434	2,422
68213N109 OMNICELL INC	AT COST	8,389	4,711
03875R205 ARBITRAGE FUND CLASS	AT COST	175,000	185,846
00191K609 AQR MANAGED FUTURES	AT COST	174,811	207,911
00143W859 INV OPP DEVELOP MRKT
72201F516 PIMCO E/M LCL CUR &	AT COST	315,503	378,969
31420B847 FED HER OPP HIGH YIE	AT COST	380,000	394,777
256219106 DODGE & COX STOCK FU	AT COST	610,507	886,519
277276101 EASTGROUP PPTYS INC	AT COST	4,524	4,810
464287499 ISHARES RUSSELL MID-	AT COST	317,325	433,215
64128R608 NEUBERGER BERMAN LON	AT COST	100,000	118,595
04314H402 ARTISAN INTERNATIONA	AT COST	125,000	123,351
922042858 VANGUARD FTSE EMERGI	AT COST	192,361	247,135
46090F100 INVESCO OPTIMUM YIEL	AT COST	99,251	88,404
313745101 FEDERAL REALTY INVES	AT COST	3,098	3,024
742537236 PRINCIPAL GL MULT ST	AT COST	125,000	127,069
704329242 PAYDEN EMER MRKT BON	AT COST	197,517	198,401
256206103 DODGE & COX INTL STO	AT COST	112,452	183,308
464287465 ISHARES MSCI EAFE ET	AT COST	129,074	192,060
229663109 CUBESMART	AT COST	2,702	2,487
464287804 ISHARES CORE S&P SMA	AT COST	49,493	51,077
003021714 ABERDEEN EMERG MARKE	AT COST	227,655	247,963
256210105 DODGE & COX INCOME F	AT COST	125,000	125,882
464287226 ISHARES CORE U.S. AG	AT COST	124,081	124,850
512816109 LAMAR ADVERTISING CO	AT COST	2,380	2,532

- TIN:

TY 2025 OtherDecreasesSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Description	Amount
MUTUAL FUND TIMING ADJ	1,304
CY PURCHASE OF ACCRUED INTEREST	1,311
PY RETURN OF CAPITAL ADJUSTMENT	5,553
COST BASIS ADJUSTMENT	82

- TIN:

TY 2025 OtherExpensesSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FILING FEE/STATE TAX	25	0		25
INVESTMENT EXPENSES - ADR FEES	2	2		0

- TIN:

TY 2025 OtherIncreasesSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Description	Amount
PY PURCHASE OF ACCRUED INTEREST	1,413

- TIN:

TY 2025 OtherProfessionalFeesSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMNT MNGMNT FEES (NON-DED	5,461	5,461

- TIN:

TY 2025 TaxesSchedule

Name:

EMBERG CHARITABLE TRUST-MAIN

EIN:

32-0639221

Category	Amount	Net Investment Income
FOREIGN TAXES	2,936	2,936
FEDERAL TAX PAYMENT - PRIOR YE	19	0
FEDERAL ESTIMATES - PRINCIPAL	2,076	0
FOREIGN TAXES ON NONQUALIFIED	944	944