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
MAXINE AND STUART FRANKEL
CHARITABLE FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address) 1334 MAPLELAWN DRIVE
Room/suite

City or town
TROY

State or province
MI

Country

ZIP or foreign postal code
48084

A Employer identification number

38-3445379

B Telephone number (see instructions)

2486492924

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)$9,084,097J 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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)	434
2	Check .................
3	Interest on savings and temporary cash investments	5,616		5,616
4	Dividends and interest from securities...	71,519		71,346
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		2,101,821
b	Gross sales price for all assets on line 6a 7,180,154
7	Capital gain net income (from Part IV, line 2)...			2,101,821
8	Net short-term capital gain.........
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........	2,179,390		2,178,783
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	12,079	12,079	0
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	32,859	968	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	44,938		13,047	0
25	Contributions, gifts, grants paid.......	150,000			150,000
26	Total expenses and disbursements. Add lines 24 and 25 ................	194,938		13,047	150,000
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	1,984,452
b	Net investment income (if negative, enter -0-)			2,165,736
c	Adjusted net income (if negative, enter -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.........	262,119	201,065	201,065
	3	Accounts receivable
		Less: allowance for doubtful accounts
	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
	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).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	5,028,605	List of Attached Documents: // Content 7,074,111	8,883,032
	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)	5,290,724	7,275,176	9,084,097
	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 )	List of Attached Documents: // Content 7,864	List of Attached Documents: // Content 7,864
	23	Total liabilities (add lines 17 through 22).........	7,864	7,864
		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........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	5,282,860	7,267,312
	29	Total net assets or fund balances (see instructions).....	5,282,860	7,267,312
	30	Total liabilities and net assets/fund balances (see instructions).	5,290,724	7,275,176

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

5,282,860

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

1,984,452

Other increases not included in line 2 (itemize)

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

7,267,312

Decreases not included in line 2 (itemize)

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

7,267,312

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	EDGEWOOD GROWTH FUND-RTL	P	2024-12-19	2025-06-25
b	JPM MANAGED INCOME FD - USD - L	P	2024-12-31	2025-06-25
c	EDGEWOOD GROWTH FUND-RTL	P	2024-01-01	2025-06-25
d	JPM MANAGED INCOME FD - USD - L	P	2024-01-01	2025-06-25
e	EDGEWOOD GROWTH FUND-RTL	P	2015-04-24	2025-02-06
	ABBOTT LABORATORIES	P	2025-06-26	2025-07-18
	ABBOTT LABORATORIES	P	2025-06-26	2025-07-18
	ABBOTT LABORATORIES	P	2025-06-26	2025-07-18
	ABBOTT LABORATORIES	P	2025-06-26	2025-07-29
	ABBOTT LABORATORIES	P	2025-06-26	2025-10-27
	ALIBABA GROUP HOLDING-SP ADR	P	2025-06-26	2025-08-12
	ALIBABA GROUP HOLDING-SP ADR	P	2025-06-26	2025-08-12
	ALIBABA GROUP HOLDING-SP ADR	P	2025-06-26	2025-08-12
	ALPHABET INC-CL C	P	2025-06-26	2025-06-30
	ALPHABET INC-CL C	P	2025-06-26	2025-07-08
	ALPHABET INC-CL C	P	2025-06-26	2025-07-09
	ALPHABET INC-CL C	P	2025-06-26	2025-10-31
	AMAZON.COM INC	P	2025-06-26	2025-06-27
	AMAZON.COM INC	P	2025-06-26	2025-06-27
	AMAZON.COM INC	P	2025-06-26	2025-06-30
	AMAZON.COM INC	P	2025-06-26	2025-08-05
	AMAZON.COM INC	P	2025-06-26	2025-08-06
	AMAZON.COM INC	P	2025-06-26	2025-09-04
	AMAZON.COM INC	P	2025-06-26	2025-09-11
	AMAZON.COM INC	P	2025-06-26	2025-09-12
	AMAZON.COM INC	P	2025-06-26	2025-09-26
	AMAZON.COM INC	P	2025-06-26	2025-10-20
	AMAZON.COM INC	P	2025-06-26	2025-10-27
	AMAZON.COM INC	P	2025-06-26	2025-10-30
	AMAZON.COM INC	P	2025-06-26	2025-11-26
	APPLE INC	P	2025-06-26	2026-12-04
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-06
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-07
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-07
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-10
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-10
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-11
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-11
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-12
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-21
	AUTOZONE INC	P	2025-06-26	2025-07-14
	BERKSHIRE HATHAWAY INC-CL B	P	2025-06-26	2025-07-11
	BERKSHIRE HATHAWAY INC-CL B	P	2025-06-26	2025-07-15
	BERKSHIRE HATHAWAY INC-CL B	P	2025-06-26	2025-07-16
	BLACKSTONE INC	P	2025-06-26	2025-10-31
	BLACKSTONE INC	P	2025-06-26	2025-11-03
	BLACKSTONE INC	P	2025-06-26	2025-11-03
	BLACKSTONE INC	P	2025-06-26	2025-11-04
	BLACKSTONE INC	P	2025-06-26	2025-11-05
	BLACKSTONE INC	P	2025-06-26	2025-11-06
	CARVANA CO	P	2025-06-26	2025-12-17
	CARVANA CO	P	2025-06-26	2025-12-17
	CHENIERE ENERGY INC	P	2025-06-26	2025-12-17
	CHENIERE ENERGY INC	P	2025-06-26	2025-12-18
	CHENIERE ENERGY INC	P	2025-06-26	2025-12-18
	CHENIERE ENERGY INC	P	2025-06-26	2025-12-19
	DOORDASH INC - A	P	2025-06-26	2025-11-13
	DOORDASH INC - A	P	2025-06-26	2025-11-14
	DOORDASH INC - A	P	2025-06-26	2025-11-21
	DOORDASH INC - A	P	2025-06-26	2025-11-24
	DOORDASH INC - A	P	2025-06-26	2025-11-25
	DOORDASH INC - A	P	2025-06-26	2025-11-26
	DOORDASH INC - A	P	2025-06-26	2025-12-03
	DOORDASH INC - A	P	2025-06-26	2025-12-03
	DOORDASH INC - A	P	2025-06-26	2025-12-03
	DOORDASH INC - A	P	2025-06-26	2025-12-04
	DOORDASH INC - A	P	2025-06-26	2025-12-11
	DOORDASH INC - A	P	2025-06-26	2025-12-17
	DR HORTON INC	P	2025-06-26	2025-07-21
	EATON CORP PLC	P	2025-06-26	2025-08-11
	EDWARDS LIFESCIENCES CORP	P	2025-06-26	2025-07-16
	EDWARDS LIFESCIENCES CORP	P	2025-06-26	2025-07-16
	EDWARDS LIFESCIENCES CORP	P	2025-06-26	2025-07-17
	EDWARDS LIFESCIENCES CORP	P	2025-06-26	2025-07-17
	ELI LILLY & CO	P	2025-06-26	2025-07-11
	ELI LILLY & CO	P	2025-06-26	2025-07-30
	ELI LILLY & CO	P	2025-06-26	2025-08-01
	ELI LILLY & CO	P	2025-06-26	2025-08-01
	ELI LILLY & CO	P	2025-06-26	2025-08-04
	ELI LILLY & CO	P	2025-06-26	2025-08-12
	ELI LILLY & CO	P	2025-06-26	2025-08-12
	ELI LILLY & CO	P	2025-06-26	2025-08-14
	ELI LILLY & CO	P	2025-06-26	2025-08-18
	ELI LILLY & CO	P	2025-06-26	2025-08-20
	ELI LILLY & CO	P	2025-06-26	2025-08-20
	ELI LILLY & CO	P	2025-06-26	2025-08-21
	FAIR ISAAC CORP	P	2025-06-26	2025-07-15
	HUBSPOT INC	P	2025-06-26	2025-07-10
	HUBSPOT INC	P	2025-06-26	2025-07-10
	HUBSPOT INC	P	2025-06-26	2025-07-10
	HUBSPOT INC	P	2025-06-26	2025-07-14
	HUBSPOT INC	P	2025-06-26	2025-07-15
	HUBSPOT INC	P	2025-06-26	2025-07-16
	HUBSPOT INC	P	2025-06-26	2025-08-04
	HUBSPOT INC	P	2025-06-26	2025-08-05
	HUBSPOT INC	P	2025-06-26	2025-08-06
	HUBSPOT INC	P	2025-06-26	2025-08-07
	HUBSPOT INC	P	2025-06-26	2025-08-07
	INTERCONTINENTAL EXCHANGE IN	P	2025-06-26	2025-10-16
	INTERCONTINENTAL EXCHANGE IN	P	2025-06-26	2025-10-17
	INTERCONTINENTAL EXCHANGE IN	P	2025-06-26	2025-07-25
	INTERNATIONAL BUSINESS MACHINES	P	2025-06-26	2025-07-30
	INTERNATIONAL BUSINESS MACHINES	P	2025-06-26	2025-08-12
	INTERNATIONAL BUSINESS MACHINES	P	2025-06-26	2025-06-30
	INTERNATIONAL BUSINESS MACHINES	P	2025-06-26	2025-08-12
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-06-30
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-08
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-08
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-09
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-09
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-10
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-15
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-07-18
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-08-05
	INTUITIVE SURGICAL INC	P	2025-06-26	2025-08-05
	JOHNSON & JOHNSON	P	2025-06-26	2025-07-15
	JOHNSON & JOHNSON	P	2025-06-26	2025-07-31
	KKR & CO INC	P	2025-06-26	2025-08-28
	KKR & CO INC	P	2025-06-26	2025-08-29
	KKR & CO INC	P	2025-06-26	2025-09-02
	KKR & CO INC	P	2025-06-26	2025-09-03
	LAM RESEARCH CORP	P	2025-06-26	2025-08-18
	MCDONALD'S CORP	P	2025-06-26	2025-07-02
	MCDONALD'S CORP	P	2025-06-26	2025-07-03
	MCDONALD'S CORP	P	2025-06-26	2025-07-14
	MCDONALD'S CORP	P	2025-06-26	2025-07-14
	MCDONALD'S CORP	P	2025-06-26	2025-07-16
	MCKESSON CORP	P	2025-06-26	2025-07-29
	MCKESSON CORP	P	2025-06-26	2025-07-30
	MCKESSON CORP	P	2025-06-26	2025-07-31
	MCKESSON CORP	P	2025-06-26	2025-08-01
	MCKESSON CORP	P	2025-06-26	2025-08-04
	MCKESSON CORP	P	2025-06-26	2025-08-05
	MCKESSON CORP	P	2025-06-26	2025-08-05
	MCKESSON CORP	P	2025-06-26	2025-08-08
	MERCADOLIBRE INC	P	2025-06-26	2025-09-08
	MERCADOLIBRE INC	P	2025-06-26	2025-09-15
	MERCADOLIBRE INC	P	2025-06-26	2025-10-01
	MERCADOLIBRE INC	P	2025-06-26	2025-10-17
	MERCADOLIBRE INC	P	2025-06-26	2025-12-18
	MERCADOLIBRE INC	P	2025-06-26	2025-09-03
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-09-10
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-09-12
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-10-20
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-10-20
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-10-31
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-11-03
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-11-10
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-11-11
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-11-13
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-11-20
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-11-26
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-12-02
	META PLATFORMS INC-CLASS A	P	2025-06-26	2025-12-05
	MICROSOFT CORP	P	2025-06-26	2025-10-21
	MICROSOFT CORP	P	2025-06-26	2026-10-27
	MICROSOFT CORP	P	2025-06-26	2025-11-26
	MICROSOFT CORP	P	2025-06-26	2025-12-23
	MICROSOFT CORP	P	2025-06-26	2025-12-24
	NETFLIX INC	P	2025-06-26	2025-07-23
	NETFLIX INC	P	2025-06-26	2025-07-24
	NETFLIX INC	P	2025-06-26	2025-07-25
	NETFLIX INC	P	2025-06-26	2025-08-15
	NETFLIX INC	P	2025-06-26	2025-08-21
	NETFLIX INC	P	2025-06-26	2025-08-22
	NETFLIX INC	P	2025-06-26	2025-09-03
	NETFLIX INC	P	2025-06-26	2025-09-12
	NETFLIX INC	P	2025-06-26	2025-10-23
	NETFLIX INC	P	2025-06-26	2025-10-24
	NETFLIX INC	P	2025-06-26	2025-11-03
	NETFLIX INC	P	2025-06-26	2025-12-08
	NETFLIX INC	P	2025-06-26	2025-12-16
	NETFLIX INC	P	2025-06-26	2025-12-18
	NVIDIA CORP	P	2025-06-26	2025-12-11
	ORACLE CORP	P	2025-06-26	2025-11-11
	ORACLE CORP	P	2025-06-26	2025-11-12
	ORACLE CORP	P	2025-06-26	2025-11-13
	ORACLE CORP	P	2025-06-26	2025-11-13
	ORACLE CORP	P	2025-06-26	2025-11-13
	ORACLE CORP	P	2025-06-26	2025-11-13
	ORACLE CORP	P	2025-06-26	2025-11-13
	ORACLE CORP	P	2025-06-26	2025-11-14
	ORACLE CORP	P	2025-06-26	2025-11-14
	ORACLE CORP	P	2025-06-26	2025-12-01
	ORACLE CORP	P	2025-06-26	2025-12-12
	ORACLE CORP	P	2025-06-26	2025-12-16
	ORACLE CORP	P	2025-09-24	2025-12-16
	ORACLE CORP	P	2025-06-26	2025-12-16
	ORACLE CORP	P	2025-06-26	2025-12-17
	ORACLE CORP	P	2025-06-26	2025-12-17
	ORACLE CORP	P	2025-06-26	2025-12-19
	PALO ALTO NETWORKS INC	P	2025-06-26	2025-12-11
	PALO ALTO NETWORKS INC	P	2025-06-26	2025-07-30
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-11-14
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-11-21
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-11-21
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-11-21
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-11-24
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-12-04
	PHILIP MORRIS INTERNATIONAL	P	2025-06-26	2025-12-10
	ROBLOX CORP -CLASS A	P	2025-06-26	2025-12-22
	ROBLOX CORP -CLASS A	P	2025-09-29	2025-12-23
	ROBLOX CORP -CLASS A	P	2025-06-26	2025-12-23
	ROBLOX CORP -CLASS A	P	2025-10-01	2025-12-26
	ROBLOX CORP -CLASS A	P	2025-06-26	2026-11-10
	SEA LTD-ADR	P	2025-09-12	2025-12-18
	SEA LTD-ADR	P	2025-09-12	2025-12-18
	SEA LTD-ADR	P	2025-09-12	2025-12-19
	SEA LTD-ADR	P	2025-09-12	2025-12-19
	SEA LTD-ADR	P	2025-09-08	2025-12-19
	SEA LTD-ADR	P	2025-09-08	2025-12-22
	SEA LTD-ADR	P	2025-06-26	2025-12-22
	SEA LTD-ADR	P	2025-10-01	2025-12-23
	SERVICENOW INC	P	2025-06-26	2025-07-08
	SERVICENOW INC	P	2025-06-26	2025-07-08
	SERVICENOW INC	P	2025-06-26	2025-07-09
	SERVICENOW INC	P	2025-06-26	2025-08-26
	SERVICENOW INC	P	2025-06-26	2025-08-26
	SERVICENOW INC	P	2025-06-26	2025-09-25
	SERVICENOW INC	P	2025-06-26	2025-09-25
	SERVICENOW INC	P	2025-06-26	2025-12-17
	SHOPIFY INC - CLASS A	P	2025-08-07	2025-10-31
	SHOPIFY INC - CLASS A	P	2025-08-07	2025-10-31
	SHOPIFY INC - CLASS A	P	2025-08-07	2025-10-31
	SHOPIFY INC - CLASS A	P	2025-08-07	2025-10-31
	SNOWFLAKE INC	P	2025-06-26	2025-08-21
	SPOTIFY TECHNOLOGY SA	P	2025-06-26	2025-07-24
	SPOTIFY TECHNOLOGY SA	P	2025-06-26	2025-07-24
	SPOTIFY TECHNOLOGY SA	P	2025-06-26	2025-07-25
	SPOTIFY TECHNOLOGY SA	P	2025-06-26	2025-07-30
	SPOTIFY TECHNOLOGY SA	P	2025-06-26	2025-08-01
	SPOTIFY TECHNOLOGY SA	P	2025-06-26	2025-08-05
	SYNOPSYS INC	P	2025-06-26	2025-09-11
	TESLA INC	P	2025-06-26	2025-07-09
	TESLA INC	P	2025-06-26	2025-07-25
	THE COCA-COLA COMPANY	P	2025-06-26	2025-07-10
	THE COCA-COLA COMPANY	P	2025-06-26	2025-07-16
	THE COCA-COLA COMPANY	P	2025-06-26	2025-07-17
	THE COCA-COLA COMPANY	P	2025-06-26	2025-07-17
	THE COCA-COLA COMPANY	P	2025-06-26	2025-07-17
	THE COCA-COLA COMPANY	P	2025-06-26	2025-07-18
	TRANE TECHNOLOGIES PLC	P	2025-06-26	2025-08-29
	TRANE TECHNOLOGIES PLC	P	2025-06-26	2025-09-02
	TRANE TECHNOLOGIES PLC	P	2025-06-26	2025-09-03
	TRANE TECHNOLOGIES PLC	P	2025-06-26	2025-09-03
	TRANE TECHNOLOGIES PLC	P	2025-06-26	2025-09-03
	TRANSDIGM GROUP INC	P	2025-06-26	2025-08-06
	TRANSDIGM GROUP INC	P	2025-06-26	2025-08-07
	TRANSDIGM GROUP INC	P	2025-06-26	2025-09-08
	TRANSDIGM GROUP INC	P	2025-06-26	2025-09-12
	TRANSDIGM GROUP INC	P	2025-06-26	2025-12-18
	TRANSDIGM GROUP INC	P	2025-06-26	2025-12-19
	TWILIO INC - A	P	2025-06-26	2025-09-16
	TWILIO INC - A	P	2025-06-26	2025-09-17
	TWILIO INC - A	P	2025-06-26	2025-10-03
	TWILIO INC - A	P	2025-06-26	2025-10-03
	UBER TECHNOLOGIES INC	P	2025-06-26	2025-11-21
	UBER TECHNOLOGIES INC	P	2025-06-26	2025-11-21
	UBER TECHNOLOGIES INC	P	2025-06-26	2025-12-11
	UBER TECHNOLOGIES INC	P	2025-06-26	2025-12-22
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-02
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-10
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-10
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-10
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-10
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-11
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-14
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-15
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-15
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-16
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-16
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-17
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-17
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-07-18
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-08-06
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-08-07
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-08-08
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-08-11
	VISA INC-CLASS A SHARES	P	2025-06-26	2025-08-19
	WALMART INC	P	2025-06-26	2025-07-28
	WALMART INC	P	2025-06-26	2025-11-10
	WALMART INC	P	2025-06-26	2025-11-12
	WALMART INC	P	2025-06-26	2025-11-14
	WW GRAINGER INC	P	2025-06-26	2025-07-16
	WW GRAINGER INC	P	2025-06-26	2025-07-17
	WW GRAINGER INC	P	2025-06-26	2025-07-17
	WW GRAINGER INC	P	2025-06-26	2025-07-18
	WW GRAINGER INC	P	2025-06-26	2025-07-21
	3M CO	P	2025-06-26	2025-08-21
	3M CO	P	2025-06-26	2025-10-20
	CHARTER COMMUN/CATIONS INC SHS CL A	P	2024-02-05	2025-02-03
	CHARTER COMMUN/CATIONS INC SHS CL A	P	2024-02-12	2025-02-03
	CHARTER COMMUN/CATIONS INC SHS CL A	P	2024-02-20	2025-02-03
	GE VERNOVA LLC	P	2024-04-11	2025-01-30
	GE VERNOVA LLC	P	2024-04-18	2025-01-30
	VISA INC CL A SHRS	P	2024-07-24	2025-03-17
	AON PLC REG SHS	P	2020-05-29	2025-03-07
	AON PLC REG SHS	P	2020-08-06	2025-03-07
	AON PLC REG SHS	P	2020-08-06	2025-03-17
	AON PLC REG SHS	P	2020-08-07	2025-03-17
	AON PLC REG SHS	P	2020-08-07	2025-03-17
	AON PLC REG SHS	P	2020-08-07	2025-03-18
	ALPHABET INC SHS CL C	P	2017-10-25	2025-02-24
	CHARTER COMMUN/CATIONS INC SHS CL A	P	2022-12-23	2025-02-03
	CHARTER COMMUN/CATIONS INC SHS CL A	P	2024-02-20	2025-03-18
	META PLATFORMS INC CLASS A COMMON STOCK	P	2021-02-16	2025-01-31
	META PLATFORMS INC CLASS A COMMON STOCK	P	2021-02-16	2025-02-03
	META PLATFORMS INC CLASS A COMMON STOCK	P	2021-06-03	2025-02-03
	META PLATFORMS INC CLASS A COMMON STOCK	P	2021-06-03	2025-02-06
	META PLATFORMS INC CLASS A COMMON STOCK	P	2021-06-03	2025-02-24
	META PLATFORMS INC CLASS A COMMON STOCK	P	2022-02-04	2025-02-24
	HILTON WORLDWIDE HOLDINGS INC REG	P	2019-07-03	2025-02-10
	HILTON WORLDWIDE HOLDINGS INC REG	P	2019-07-03	2025-03-05
	HUMANA/NC	P	2024-02-01	2025-03-10
	PROSUS NV	P	2021-08-03	2025-02-06
	PROSUS NV	P	2021-08-19	2025-02-06
	PROSUS NV	P	2021-08-19	2025-03-05
	PROSUS NV	P	2021-08-19	2025-03-17
	PROSUS NV	P	2022-07-15	2025-03-17
	SAP SE SHS	P	2023-08-18	2025-01-29
	SAP SE SHS	P	2023-08-18	2025-02-10
	SAP SE SHS	P	2023-08-18	2025-02-25
	SAFRAN SA-UNSPON ADR	P	2021-11-12	2025-02-19
	SAFRAN SA-UNSPON ADR	P	2022-03-02	2025-02-19
	SAFRAN SA-UNSPON ADR	P	2022-03-02	2025-03-06
	TAIWAN S MANUFCTRING ADR	P	2023-10-12	2025-01-31
	VISA INC CL A SHRS	P	2021-11-23	2025-02-10
	VISA INC CL A SHRS	P	2021-11-23	2025-03-05
	VISA INC CL A SHRS	P	2021-11-23	2025-03-10
	VISA INC CL A SHRS	P	2021-11-23	2025-03-11
	VISA INC CL A SHRS	P	2021-11-23	2025-03-13
	VISA INC CL A SHRS	P	2021-11-23	2025-03-17
	WELLS FARGO & CO	P	2020-07-31	2025-02-07
	WELLS FARGO & CO	P	2022-07-13	2025-02-07
	AERCAP HOLDINGS NV	P	2025-02-28	2025-06-05
	AERCAP HOLDINGS NV	P	2025-02-28	2025-06-05
	AERCAP HOLDINGS NV	P	2025-02-28	2025-06-06
	AERCAP HOLDINGS NV	P	2025-02-28	2025-06-09
	AERCAP HOLDINGS NV	P	2025-02-28	2025-09-04
	AERCAP HOLDINGS NV	P	2025-02-28	2025-09-04
	AERCAP HOLDINGS NV	P	2025-02-28	2025-09-08
	AERCAP HOLDINGS NV	P	2025-02-28	2025-09-08
	AERCAP HOLDINGS NV	P	2025-02-28	2025-09-08
	AERCAP HOLDINGS NV	P	2025-02-08	2025-09-09
	AMAZON.COM INC	P	2025-12-11	2025-12-19
	AON PLC-CLASS A	P	2024-05-21	2025-04-08
	ASML HOLDING NV-NY REG SHS	P	2025-02-28	2025-09-24
	ASML HOLDING NV-NY REG SHS	P	2025-06-11	2025-09-24
	ASML HOLDING NV-NY REG SHS	P	2025-06-11	2025-09-25
	ASML HOLDING NV-NY REG SHS	P	2025-06-11	2025-09-26
	ASML HOLDING NV-NY REG SHS	P	2025-06-12	2025-09-26
	ASML HOLDING NV-NY REG SHS	P	2025-06-12	2025-10-03
	ASML HOLDING NV-NY REG SHS	P	2025-06-16	2025-10-06
	ASML HOLDING NV-NY REG SHS	P	2025-06-16	2025-10-07
	ASML HOLDING NV-NY REG SHS	P	2025-06-16	2025-10-21
	ASML HOLDING NV-NY REG SHS	P	2025-06-18	2025-10-28
	ASML HOLDING NV-NY REG SHS	P	2025-06-18	2025-11-18
	ASML HOLDING NV-NY REG SHS	P	2025-06-18	2025-11-19
	ASML HOLDING NV-NY REG SHS	P	2025-06-18	2025-12-08
	ASML HOLDING NV-NY REG SHS	P	2025-06-18	2025-12-09
	ASML HOLDING NV-NY REG SHS	P	2025-06-06	2025-12-11
	ASML HOLDING NV-NY REG SHS	P	2025-06-06	2025-12-12
	ASML HOLDING NV-NY REG SHS	P	2025-06-06	2025-12-15
	ASML HOLDING NV-NY REG SHS	P	2025-06-06	2025-12-19
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-16
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-17
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-17
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-18
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-21
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-22
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-23
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-24
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-25
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-07-28
	GCI LIBERTY INC-CL C	P	2025-07-15	2025-08-07
	GE VERNOVA INC	P	2024-06-07	2025-06-05
	GE VERNOVA INC	P	2024-06-07	2025-06-06
	GE VERNOVA INC	P	2024-06-07	2025-06-06
	GE VERNOVA INC	P	2024-07-18	2025-06-11
	GE VERNOVA INC	P	2024-07-18	2025-06-12
	LENNAR CORP-A	P	2024-12-26	2025-12-19
	LONDON STOCK EX GRP ADR SPON	P	2024-12-26	2025-12-19
	MICROSOFT CORP	P	2025-02-24	2025-12-19
	PROSUS NV -SPON ADR	P	2024-05-17	2025-04-09
	PROSUS NV -SPON ADR	P	2024-05-17	2025-04-09
	PROSUS NV -SPON ADR	P	2024-05-17	2025-04-09
	PROSUS NV -SPON ADR	P	2024-05-17	2025-04-10
	PROSUS NV -SPON ADR	P	2024-05-17	2025-04-10
	PROSUS NV -SPON ADR	P	2024-05-17	2025-04-10
	PROSUS NV -SPON ADR	P	2024-04-15	2025-04-14
	SAP SE-SPONSORED ADR	P	2025-12-05	2025-12-19
	SHELL PLC-ADR	P	2025-02-10	2025-04-16
	SHELL PLC-ADR	P	2025-02-10	2025-04-17
	TAIWAN SEMICONDUCTOR-SP ADR	P	2025-03-12	2025-12-19
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-09-02
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-09-03
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-09-03
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-09-04
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-09-17
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-09-23
	THE ESTEE LAUDER COMPANIES INC.	P	2025-01-15	2025-12-19
	UNITEDHEALTH GROUP INC	P	2025-01-13	2025-12-19
	WOODWARD INC	P	2025-03-13	2025-07-23
	WOODWARD INC	P	2025-03-13	2025-12-19
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-09
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-10
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-11
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-11
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-12
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-15
	AERCAP HOLDINGS NV	P	2023-09-18	2025-09-16
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-12
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-12
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-13
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-13
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-14
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-14
	AERCAP HOLDINGS NV	P	2023-09-18	2025-11-17
	AERCAP HOLDINGS NV	P	2023-09-18	2025-12-08
	AERCAP HOLDINGS NV	P	2023-09-18	2025-12-08
	AERCAP HOLDINGS NV	P	2023-09-18	2025-12-09
	AERCAP HOLDINGS NV	P	2023-09-18	2025-12-09
	AERCAP HOLDINGS NV	P	2023-09-18	2025-12-09
	AERCAP HOLDINGS NV	P	2023-09-18	2025-12-19
	ALCOA CORP	P	2024-06-04	2025-12-19
	ALPHABET INC-CL C	P	2019-07-03	2025-04-09
	ALPHABET INC-CL C	P	2019-07-03	2025-04-10
	ALPHABET INC-CL C	P	2019-07-03	2025-04-10
	ALPHABET INC-CL C	P	2024-01-01	2025-06-05
	ALPHABET INC-CL C	P	2017-12-27	2025-09-17
	ALPHABET INC-CL C	P	2017-12-27	2025-10-28
	ALPHABET INC-CL C	P	2017-12-27	2025-11-18
	ALPHABET INC-CL C	P	2017-12-27	2025-12-08
	ALPHABET INC-CL C	P	2017-12-27	2025-12-11
	ALPHABET INC-CL C	P	2024-01-01	2025-12-12
	ALPHABET INC-CL C	P	2018-12-10	2025-12-19
	AMAZON.COM INC	P	2021-05-24	2025-04-08
	AMAZON.COM INC	P	2024-01-01	2025-04-10
	AMAZON.COM INC	P	2021-08-16	2025-04-10
	AON PLC-CLASS A	P	2024-01-01	2025-04-08
	BAYER AG-SPONSORED ADR	P	2024-01-01	2025-07-24
	BAYER AG-SPONSORED ADR	P	2023-05-11	2025-12-19
	CAPITAL ONE FINANCIAL CORP	P	2024-03-15	2025-12-19
	COMCAST CORP-CLASS A	P	2019-07-03	2025-12-19
	CONOCOPHILLIPS	P	2024-01-01	2025-12-19
	ELEVANCE HEALTH INC	P	2023-10-16	2025-12-19
	GE VERNOVA INC	P	2024-06-07	2025-06-11
	GE VERNOVA INC	P	2024-05-03	2025-06-12
	GE VERNOVA INC	P	2024-05-03	2025-06-13
	GE VERNOVA INC	P	2024-05-03	2025-06-13
	GE VERNOVA INC	P	2024-05-03	2025-06-16
	GE VERNOVA INC	P	2024-05-03	2025-06-16
	GE VERNOVA INC	P	2024-01-01	2025-06-17
	GE VERNOVA INC	P	2024-04-18	2025-06-17
	GE VERNOVA INC	P	2024-04-18	2025-06-18
	GE VERNOVA INC	P	2024-04-18	2025-06-20
	GE VERNOVA INC	P	2024-04-18	2025-06-20
	GE VERNOVA INC	P	2024-04-18	2025-06-20
	GE VERNOVA INC	P	2024-04-18	2025-06-23
	HUMANA INC	P	2024-02-01	2025-10-29
	HUMANA INC	P	2024-02-01	2025-10-29
	HUMANA INC	P	2024-02-01	2025-10-29
	HUMANA INC	P	2024-02-01	2025-10-30
	HUMANA INC	P	2024-01-01	2025-10-30
	HUMANA INC	P	2024-05-20	2025-10-30
	HUMANA INC	P	2024-05-20	2025-10-31
	HUMANA INC	P	2024-05-20	2025-10-31
	HUMANA INC	P	2024-01-01	2025-12-19
	META PLATFORMS INC-CLASS A	P	2022-02-04	2025-04-10
	META PLATFORMS INC-CLASS A	P	2022-02-04	2025-04-10
	META PLATFORMS INC-CLASS A	P	2022-02-04	2025-06-05
	META PLATFORMS INC-CLASS A	P	2024-01-01	2025-08-13
	META PLATFORMS INC-CLASS A	P	2022-11-09	2025-08-19
	META PLATFORMS INC-CLASS A	P	2022-11-09	2025-09-02
	META PLATFORMS INC-CLASS A	P	2022-11-09	2025-09-26
	META PLATFORMS INC-CLASS A	P	2022-11-09	2025-10-06
	PROSUS NV -SPON ADR	P	2023-05-23	2025-04-10
	PROSUS NV -SPON ADR	P	2023-05-23	2025-04-11
	PROSUS NV -SPON ADR	P	2023-05-23	2025-04-11
	PROSUS NV -SPON ADR	P	2023-05-23	2025-04-14
	PROSUS NV -SPON ADR	P	2024-04-15	2025-04-24
	PROSUS NV -SPON ADR	P	2024-04-15	2025-04-24
	PROSUS NV -SPON ADR	P	2024-01-01	2025-04-25
	PROSUS NV -SPON ADR	P	2022-07-18	2025-04-25
	PROSUS NV -SPON ADR	P	2022-07-18	2025-04-28
	PROSUS NV -SPON ADR	P	2022-07-18	2025-05-08
	PROSUS NV -SPON ADR	P	2022-07-18	2025-05-08
	PROSUS NV -SPON ADR	P	2022-07-18	2025-05-09
	PROSUS NV -SPON ADR	P	2022-07-18	2025-05-09
	PROSUS NV -SPON ADR	P	2022-07-18	2025-05-12
	PROSUS NV -SPON ADR	P	2022-07-18	2025-05-12
	PROSUS NV -SPON ADR	P	2024-01-01	2025-05-13
	PROSUS NV -SPON ADR	P	2022-07-15	2025-05-20
	PROSUS NV -SPON ADR	P	2022-07-15	2025-05-20
	PROSUS NV -SPON ADR	P	2022-07-15	2025-05-21
	PROSUS NV -SPON ADR	P	2024-01-01	2025-05-22
	PROSUS NV -SPON ADR	P	2024-01-10	2025-05-22
	PROSUS NV -SPON ADR	P	2024-01-10	2026-05-23
	PROSUS NV -SPON ADR	P	2024-01-10	2026-05-23
	PROSUS NV -SPON ADR	P	2024-01-10	2025-05-27
	PROSUS NV -SPON ADR	P	2024-01-10	2025-05-28
	SAFRAN SA-UNSPON ADR	P	2024-01-01	2025-04-08
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-07-03
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-07-21
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-08-13
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-08-14
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-08-15
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-08-18
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-08-19
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-08-29
	SAFRAN SA-UNSPON ADR	P	2022-11-14	2025-09-09
	SAP SE-SPONSORED ADR	P	2024-04-25	2025-06-05
	SAP SE-SPONSORED ADR	P	2024-04-25	2025-06-06
	SHELL PLC-ADR	P	2023-10-13	2025-04-16
	SHELL PLC-ADR	P	2023-10-13	2025-04-16
	SHELL PLC-ADR	P	2023-08-14	2025-04-17
	SHELL PLC-ADR	P	2023-08-14	2025-08-01
	SHELL PLC-ADR	P	2023-08-14	2025-08-01
	SHELL PLC-ADR	P	2023-08-14	2025-08-04
	SHELL PLC-ADR	P	2023-08-14	2025-08-04
	SHELL PLC-ADR	P	2023-08-14	2025-08-05
	SHELL PLC-ADR	P	2024-01-01	2025-09-09
	SHELL PLC-ADR	P	2023-06-23	2025-09-09
	SHELL PLC-ADR	P	2023-06-23	2025-09-10
	SHELL PLC-ADR	P	2023-06-23	2025-09-10
	SHELL PLC-ADR	P	2023-06-23	2025-09-11
	SHELL PLC-ADR	P	2023-06-23	2025-06-11
	SHELL PLC-ADR	P	2024-01-01	2025-09-12
	SHELL PLC-ADR	P	2022-09-07	2025-09-15
	SHELL PLC-ADR	P	2024-01-01	2025-09-16
	SHELL PLC-ADR	P	2022-09-08	2025-09-16
	SHELL PLC-ADR	P	2022-09-08	2025-09-17
	SHELL PLC-ADR	P	2022-09-08	2025-09-26
	SHELL PLC-ADR	P	2022-09-08	2025-09-26
	SHELL PLC-ADR	P	2022-09-08	2025-09-26
	SHELL PLC-ADR	P	2022-09-08	2025-09-29
	SHELL PLC-ADR	P	2022-09-08	2025-09-30
	SHELL PLC-ADR	P	2022-09-08	2025-10-08
	SHELL PLC-ADR	P	2022-09-08	2025-10-08
	SHELL PLC-ADR	P	2022-09-08	2025-10-09
	SHELL PLC-ADR	P	2022-09-08	2025-10-09
	SHELL PLC-ADR	P	2022-09-08	2025-10-09
	SHELL PLC-ADR	P	2022-09-08	2025-10-10
	SHELL PLC-ADR	P	2024-01-01	2025-10-13
	SHELL PLC-ADR	P	2022-10-19	2025-10-21
	SHELL PLC-ADR	P	2022-10-19	2025-10-22
	SHELL PLC-ADR	P	2024-01-01	2025-10-22
	WELLS FARGO & CO	P	2022-12-22	2025-05-16
	WELLS FARGO & CO	P	2022-12-22	2025-05-16
	WELLS FARGO & CO	P	2022-12-22	2025-05-16
	WELLS FARGO & CO	P	2022-12-22	2025-05-19
	WELLS FARGO & CO	P	2022-12-22	2025-06-26
	WELLS FARGO & CO	P	2022-12-22	2025-06-26
	WELLS FARGO & CO	P	2022-12-22	2025-06-26
	WELLS FARGO & CO	P	2022-12-22	2025-06-30
	WELLS FARGO & CO	P	2024-01-01	2025-07-01
	WELLS FARGO & CO	P	2024-01-01	2025-07-02
	WELLS FARGO & CO	P	2022-07-14	2025-08-13
	WELLS FARGO & CO	P	2022-07-14	2025-08-13
	WELLS FARGO & CO	P	2022-07-14	2025-08-13
	WELLS FARGO & CO	P	2022-07-14	2025-08-13
	WELLS FARGO & CO	P	2022-07-14	2025-08-13
	WELLS FARGO & CO	P	2022-07-14	2025-08-13
	WELLS FARGO & CO	P	2022-07-14	2025-08-14
	WELLS FARGO & CO	P	2022-07-14	2025-08-15
	WELLS FARGO & CO	P	2022-07-14	2025-08-18
	WOODWARD INC	P	2024-04-30	2025-12-19
	WORKDAY INC-CLASS A	P	2024-12-12	2025-12-19
	CAPITAL ONE FINANCIAL CORP	P	2024-01-01	2025-05-28
	GCI LIBERTY INC-CL C	P	2024-01-01	2025-07-29
	ARISTA NETWORKS INC	P	2025-06-26	2025-11-21
	ADJUSTMENT TO COST	P	2024-01-01	2025-12-31

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	698,396	674,681	23,715
b	18	17	1
c	3,361,406	2,126,728	1,234,678
d	358	355	3
e	39	19	20
	4,340	4,673	-333
	7,665	8,279	-614
	494	534	-40
	4,298	4,540	-242
	5,916	6,276	-360
	601	570	31
	1,438	1,368	70
	2,959	2,849	110
	13,109	12,857	252
	4,037	3,996	41
	7,936	7,818	118
	5,056	3,773	1,283
	7,304	7,131	173
	7,708	7,563	145
	19,205	18,800	405
	4,299	4,322	-23
	16,068	16,207	-139
	5,387	4,970	417
	5,515	5,186	329
	9,388	8,860	528
	7,008	6,915	93
	6,647	6,699	-52
	4,987	4,754	233
	4,507	4,322	185
	6,222	5,835	387
	5,112	4,210	902
	405	306	99
	943	713	230
	540	408	132
	3,567	2,650	917
	960	713	247
	135	102	33
	1,484	1,121	363
	270	204	66
	269	204	65
	3,735	3,501	234
	4,251	4,369	-118
	6,121	6,311	-190
	1,887	1,942	-55
	4,094	4,103	-9
	1,007	1,021	-14
	2,164	2,188	-24
	4,011	4,085	-74
	2,158	2,188	-30
	1,718	1,751	-33
	451	371	80
	6,799	5,515	1,284
	7,797	9,925	-2,128
	192	242	-50
	1,337	1,695	-358
	570	726	-156
	3,562	4,279	-717
	1,817	2,139	-322
	1,315	1,664	-349
	1,313	1,664	-351
	3,000	3,803	-803
	2,897	3,565	-668
	1,188	1,426	-238
	2,002	2,139	-137
	3,296	3,565	-269
	4,830	5,229	-399
	4,383	4,754	-371
	8,245	8,795	-550
	4,254	4,056	198
	11,489	11,116	373
	990	1,001	-11
	4,789	4,851	-62
	1,520	1,540	-20
	4,262	4,312	-50
	4,711	4,774	-63
	3,861	3,978	-117
	6,093	6,365	-272
	760	796	-36
	4,529	4,774	-245
	642	796	-154
	3,206	3,978	-772
	4,611	5,570	-959
	4,225	4,774	-549
	3,469	3,978	-509
	692	796	-104
	9,999	11,139	-1,140
	12,193	14,602	-2,409
	1,106	1,093	13
	1,679	1,640	39
	1,666	1,640	26
	2,166	2,186	-20
	532	547	-15
	528	547	-19
	1,999	2,186	-187
	1,987	2,186	-199
	2,475	2,733	-258
	998	1,093	-95
	1,518	1,640	-122
	5,997	7,081	-1,084
	1,994	2,360	-366
	1,997	2,360	-363
	18,327	20,735	-2,408
	4,432	4,965	-533
	701	876	-175
	5,214	6,425	-1,211
	5,374	5,346	28
	529	535	-6
	1,059	1,069	-10
	1,584	1,604	-20
	524	535	-11
	6,293	6,415	-122
	4,112	4,277	-165
	6,190	6,415	-225
	1,920	2,138	-218
	9,615	10,692	-1,077
	3,912	3,814	98
	6,322	5,797	525
	3,788	3,551	237
	2,795	2,631	164
	2,756	2,631	125
	2,979	2,893	86
	11,375	11,076	299
	5,595	5,437	158
	2,351	2,289	62
	1,203	1,145	58
	3,308	3,148	160
	3,887	3,720	167
	1,422	1,449	-27
	712	725	-13
	2,108	2,174	-66
	2,089	2,174	-85
	2,821	2,898	-77
	4,964	5,072	-108
	709	725	-16
	7,989	8,694	-705
	4,621	5,132	-511
	2,327	2,566	-239
	2,330	2,566	-236
	4,657	5,132	-475
	6,115	7,699	-1,584
	5,893	7,699	-1,806
	5,905	5,805	100
	4,543	4,354	189
	3,732	3,628	104
	5,102	5,079	23
	3,895	4,354	-459
	6,478	7,256	-778
	14,545	16,688	-2,143
	5,002	5,805	-803
	30,684	36,279	-5,595
	4,229	5,079	-850
	17,777	20,316	-2,539
	7,055	7,981	-926
	6,008	6,530	-522
	9,804	10,081	-277
	4,768	4,741	27
	5,321	5,795	-474
	12,631	13,105	-474
	7,764	7,983	-219
	4,709	5,190	-481
	9,382	10,381	-999
	11,781	12,976	-1,195
	4,947	5,190	-243
	3,634	3,893	-259
	4,828	5,190	-362
	6,055	6,488	-433
	3,592	3,893	-301
	10,012	11,679	-1,667
	4,424	5,190	-766
	8,799	10,381	-1,582
	4,357	5,839	-1,482
	5,717	7,916	-2,199
	6,929	9,473	-2,544
	7,692	7,692	0
	4,228	4,228	0
	2,737	2,737	0
	1,093	1,093	0
	4,865	4,865	0
	437	437	0
	1,106	1,609	-503
	438	644	-206
	5,121	10,990	-5,869
	645	1,160	-515
	4,449	7,211	-2,762
	5,304	8,506	-3,202
	2,436	3,961	-1,525
	187	305	-118
	1,679	2,710	-1,031
	909	1,492	-583
	4,535	7,424	-2,889
	5,623	8,387	-2,764
	191	204	-13
	9,725	10,387	-662
	6,867	7,564	-697
	5,364	6,304	-940
	155	180	-25
	2,496	2,882	-386
	1,661	1,981	-320
	4,295	5,223	-928
	4,485	5,403	-918
	2,299	3,991	-1,692
	81	141	-60
	1,868	3,180	-1,312
	979	1,617	-638
	407	674	-267
	4,927	5,056	-129
	1,569	2,635	-1,066
	245	404	-159
	2,079	3,375	-1,296
	123	192	-69
	249	384	-135
	1,739	2,627	-888
	374	534	-160
	2,045	2,015	30
	2,039	2,015	24
	4,085	4,031	54
	1,718	2,015	-297
	4,332	5,039	-707
	4,584	5,039	-455
	917	1,008	-91
	8,737	11,085	-2,348
	1,204	1,080	124
	2,987	2,624	363
	356	309	47
	878	772	106
	4,228	4,848	-620
	3,425	3,851	-426
	2,735	3,081	-346
	6,222	6,932	-710
	5,764	6,932	-1,168
	8,870	10,783	-1,913
	12,269	14,634	-2,365
	7,496	8,869	-1,373
	6,861	7,559	-698
	5,578	5,916	-338
	14,217	14,205	12
	1,109	1,109	0
	350	346	4
	353	346	7
	2,445	2,425	20
	6,127	6,028	99
	1,248	1,287	-39
	2,051	2,144	-93
	1,219	1,287	-68
	408	429	-21
	816	858	-42
	5,569	5,923	-354
	9,808	10,365	-557
	3,810	4,210	-400
	3,838	4,210	-372
	7,533	8,420	-887
	3,804	4,210	-406
	2,347	3,030	-683
	2,186	2,624	-438
	8,378	9,922	-1,544
	2,426	2,904	-478
	6,797	7,653	-856
	1,573	1,773	-200
	8,789	9,799	-1,010
	4,626	5,320	-694
	4,257	4,139	118
	1,781	1,725	56
	1,424	1,380	44
	356	345	11
	712	690	22
	348	345	3
	3,855	3,795	60
	1,044	1,035	9
	1,738	1,725	13
	4,542	4,484	58
	2,795	2,760	35
	350	345	5
	4,205	4,139	66
	5,226	5,174	52
	1,357	1,380	-23
	3,331	3,450	-119
	3,694	3,795	-101
	6,062	6,209	-147
	4,479	4,484	-5
	6,951	6,830	121
	5,011	4,809	202
	6,808	6,349	459
	4,544	4,329	215
	2,065	2,030	35
	4,098	4,060	38
	1,025	1,015	10
	5,124	5,074	50
	1,025	1,015	10
	4,485	4,353	132
	6,656	6,455	201
	9,914	8,815	1,099
	16,410	14,330	2,080
	1,709	1,473	236
	4,212	1,517	2,695
	11,105	3,984	7,121
	47,839	36,414	11,425
	2,010	983	1,027
	21,308	10,337	10,971
	782	390	392
	7,820	3,898	3,922
	7,430	3,703	3,727
	4,284	2,144	2,140
	12,930	3,454	9,476
	4,786	4,655	131
	10,636	8,838	1,798
	34,825	13,703	21,122
	1,400	548	852
	20,293	9,447	10,846
	10,635	4,887	5,748
	670	326	344
	10,053	3,533	6,520
	13,090	4,947	8,143
	10,639	4,139	6,500
	16,316	24,045	-7,729
	14,689	14,358	331
	5,423	5,045	378
	11,031	8,789	2,242
	1,527	1,170	357
	9,202	5,637	3,565
	24,678	11,969	12,709
	12,867	6,186	6,681
	12,840	6,052	6,788
	1,900	1,011	889
	16,836	7,717	9,119
	10,694	4,594	6,100
	14,398	6,301	8,097
	13,994	7,871	6,123
	10,191	5,707	4,484
	12,638	7,281	5,357
	3,710	2,165	1,545
	14,495	8,658	5,837
	1,338	787	551
	11,225	3,361	7,864
	2,423	1,173	1,250
	463	408	55
	579	511	68
	5,250	4,595	655
	2,575	2,246	329
	2,984	2,451	533
	9,783	8,067	1,716
	246	204	42
	123	102	21
	370	306	64
	609	511	98
	7,080	7,127	-47
	8,663	6,960	1,703
	13,268	11,289	1,979
	4,766	3,971	795
	4,726	3,971	755
	9,523	7,886	1,637
	1,906	1,572	334
	12,399	9,362	3,037
	2,098	1,555	543
	12,102	9,319	2,783
	11,316	8,462	2,854
	12,659	9,202	3,457
	9,053	6,898	2,155
	2,057	1,530	527
	6,711	4,587	2,124
	7,779	5,347	2,432
	12,278	8,356	3,922
	3,256	2,274	982
	8,713	6,064	2,649
	3,170	2,274	896
	2,498	2,598	-100
	250	239	11
	585	581	4
	780	718	62
	413	379	34
	217	205	12
	139	137	2
	171	171	0
	68	68	0
	101	103	-2
	1,423	1,367	56
	5,814	1,950	3,864
	485	163	322
	10,202	3,413	6,789
	5,284	1,776	3,508
	5,846	1,937	3,909
	3,424	4,069	-645
	6,440	6,440	0
	7,268	6,060	1,208
	2,394	2,357	37
	966	946	20
	6,514	6,397	117
	89	85	4
	5,507	5,234	273
	40	39	1
	7,834	5,853	1,981
	2,938	2,938	0
	4,309	4,426	-117
	5,200	5,285	-85
	6,085	3,714	2,371
	2,896	2,393	503
	2,993	2,467	526
	1,917	1,570	347
	91	75	16
	449	374	75
	618	523	95
	4,207	2,916	1,291
	5,608	9,233	-3,625
	11,766	8,163	3,603
	2,443	1,420	1,023
	609	318	291
	1,090	572	518
	494	254	240
	1,233	635	598
	614	318	296
	722	381	341
	719	381	338
	2,205	1,016	1,189
	1,239	572	667
	2,332	1,080	1,252
	1,917	889	1,028
	685	318	367
	1,916	889	1,027
	802	381	421
	1,533	699	834
	2,361	1,080	1,281
	840	381	459
	4,481	2,032	2,449
	3,369	1,524	1,845
	4,917	2,159	2,758
	3,852	3,153	699
	1,771	675	1,096
	4,345	1,575	2,770
	14,192	5,061	9,131
	9,207	3,022	6,185
	9,465	1,995	7,470
	12,882	2,521	10,361
	11,467	2,101	9,366
	12,216	2,048	10,168
	11,930	1,995	9,935
	12,107	2,033	10,074
	4,270	727	3,543
	7,370	6,988	382
	12,703	11,209	1,494
	7,239	6,484	755
	40,788	34,615	6,173
	20,600	36,805	-16,205
	3,514	5,029	-1,515
	10,007	4,874	5,133
	4,912	7,158	-2,246
	5,427	7,018	-1,591
	2,397	3,244	-847
	7,686	2,600	5,086
	4,872	1,593	3,279
	1,915	637	1,278
	3,346	1,115	2,231
	1,960	637	1,323
	5,857	1,912	3,945
	13,656	4,044	9,612
	3,400	962	2,438
	2,921	824	2,097
	6,813	1,923	4,890
	3,891	1,099	2,792
	17,529	4,946	12,583
	5,395	1,511	3,884
	1,757	2,254	-497
	2,924	3,757	-833
	294	376	-82
	1,726	2,254	-528
	5,171	6,539	-1,368
	3,718	4,620	-902
	5,597	7,107	-1,510
	2,527	3,198	-671
	2,604	3,363	-759
	10,121	4,240	5,881
	6,120	2,591	3,529
	9,619	3,298	6,321
	13,310	2,278	11,032
	9,017	1,233	7,784
	13,900	1,952	11,948
	11,134	1,541	9,593
	17,137	2,466	14,671
	5,472	4,491	981
	6,197	5,082	1,115
	2,214	1,807	407
	1,375	1,087	288
	2,884	2,015	869
	2,055	1,431	624
	8,980	6,140	2,840
	2,057	1,377	680
	2,101	1,401	700
	1,825	1,162	663
	3,064	1,948	1,116
	2,024	1,278	746
	3,420	2,164	1,256
	2,276	1,389	887
	4,783	2,926	1,857
	3,672	2,221	1,451
	296	171	125
	1,629	945	684
	2,811	1,606	1,205
	1,265	726	539
	2,715	1,550	1,165
	2,333	1,345	988
	1,978	1,145	833
	4,072	2,325	1,747
	5,831	3,358	2,473
	7,248	3,728	3,520
	10,031	3,624	6,407
	13,393	4,623	8,770
	2,969	999	1,970
	7,930	2,654	5,276
	4,271	1,427	2,844
	2,894	970	1,924
	4,327	1,455	2,872
	13,500	4,623	8,877
	13,347	4,651	8,696
	1,854	1,091	763
	7,747	4,548	3,199
	3,143	3,297	-154
	4,309	4,509	-200
	1,300	1,229	71
	7,132	6,084	1,048
	216	184	32
	5,798	4,978	820
	2,440	2,089	351
	934	799	135
	4,558	3,827	731
	1,521	1,256	265
	72	60	12
	4,560	3,767	793
	145	120	25
	4,322	3,588	734
	2,649	2,159	490
	3,510	2,556	954
	4,841	3,493	1,348
	288	208	80
	1,432	1,041	391
	2,497	1,770	727
	221	156	65
	883	625	258
	2,902	2,082	820
	4,001	2,914	1,087
	148	104	44
	2,599	1,822	777
	742	520	222
	1,924	1,353	571
	891	625	266
	4,836	3,487	1,349
	1,440	1,035	405
	6,047	4,255	1,792
	370	256	114
	5,694	3,944	1,750
	4,417	2,338	2,079
	1,294	685	609
	1,980	1,048	932
	7,677	4,072	3,605
	799	403	396
	5,265	2,661	2,604
	7,182	3,628	3,554
	7,689	3,870	3,819
	5,803	2,871	2,932
	10,026	4,694	5,332
	4,456	2,183	2,273
	623	306	317
	474	230	244
	158	77	81
	158	77	81
	860	421	439
	12,194	5,899	6,295
	7,232	3,562	3,670
	7,888	3,907	3,981
	2,443	1,305	1,138
	5,471	6,875	-1,404
	63		63
	30		30
	11,688	10,192	1,496
	327,900		327,900

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			23,715
b			1
c			1,234,678
d			3
e			20
			-333
			-614
			-40
			-242
			-360
			31
			70
			110
			252
			41
			118
			1,283
			173
			145
			405
			-23
			-139
			417
			329
			528
			93
			-52
			233
			185
			387
			902
			99
			230
			132
			917
			247
			33
			363
			66
			65
			234
			-118
			-190
			-55
			-9
			-14
			-24
			-74
			-30
			-33
			80
			1,284
			-2,128
			-50
			-358
			-156
			-717
			-322
			-349
			-351
			-803
			-668
			-238
			-137
			-269
			-399
			-371
			-550
			198
			373
			-11
			-62
			-20
			-50
			-63
			-117
			-272
			-36
			-245
			-154
			-772
			-959
			-549
			-509
			-104
			-1,140
			-2,409
			13
			39
			26
			-20
			-15
			-19
			-187
			-199
			-258
			-95
			-122
			-1,084
			-366
			-363
			-2,408
			-533
			-175
			-1,211
			28
			-6
			-10
			-20
			-11
			-122
			-165
			-225
			-218
			-1,077
			98
			525
			237
			164
			125
			86
			299
			158
			62
			58
			160
			167
			-27
			-13
			-66
			-85
			-77
			-108
			-16
			-705
			-511
			-239
			-236
			-475
			-1,584
			-1,806
			100
			189
			104
			23
			-459
			-778
			-2,143
			-803
			-5,595
			-850
			-2,539
			-926
			-522
			-277
			27
			-474
			-474
			-219
			-481
			-999
			-1,195
			-243
			-259
			-362
			-433
			-301
			-1,667
			-766
			-1,582
			-1,482
			-2,199
			-2,544
			0
			0
			0
			0
			0
			0
			-503
			-206
			-5,869
			-515
			-2,762
			-3,202
			-1,525
			-118
			-1,031
			-583
			-2,889
			-2,764
			-13
			-662
			-697
			-940
			-25
			-386
			-320
			-928
			-918
			-1,692
			-60
			-1,312
			-638
			-267
			-129
			-1,066
			-159
			-1,296
			-69
			-135
			-888
			-160
			30
			24
			54
			-297
			-707
			-455
			-91
			-2,348
			124
			363
			47
			106
			-620
			-426
			-346
			-710
			-1,168
			-1,913
			-2,365
			-1,373
			-698
			-338
			12
			0
			4
			7
			20
			99
			-39
			-93
			-68
			-21
			-42
			-354
			-557
			-400
			-372
			-887
			-406
			-683
			-438
			-1,544
			-478
			-856
			-200
			-1,010
			-694
			118
			56
			44
			11
			22
			3
			60
			9
			13
			58
			35
			5
			66
			52
			-23
			-119
			-101
			-147
			-5
			121
			202
			459
			215
			35
			38
			10
			50
			10
			132
			201
			1,099
			2,080
			236
			2,695
			7,121
			11,425
			1,027
			10,971
			392
			3,922
			3,727
			2,140
			9,476
			131
			1,798
			21,122
			852
			10,846
			5,748
			344
			6,520
			8,143
			6,500
			-7,729
			331
			378
			2,242
			357
			3,565
			12,709
			6,681
			6,788
			889
			9,119
			6,100
			8,097
			6,123
			4,484
			5,357
			1,545
			5,837
			551
			7,864
			1,250
			55
			68
			655
			329
			533
			1,716
			42
			21
			64
			98
			-47
			1,703
			1,979
			795
			755
			1,637
			334
			3,037
			543
			2,783
			2,854
			3,457
			2,155
			527
			2,124
			2,432
			3,922
			982
			2,649
			896
			-100
			11
			4
			62
			34
			12
			2
			0
			0
			-2
			56
			3,864
			322
			6,789
			3,508
			3,909
			-645
			0
			1,208
			37
			20
			117
			4
			273
			1
			1,981
			0
			-117
			-85
			2,371
			503
			526
			347
			16
			75
			95
			1,291
			-3,625
			3,603
			1,023
			291
			518
			240
			598
			296
			341
			338
			1,189
			667
			1,252
			1,028
			367
			1,027
			421
			834
			1,281
			459
			2,449
			1,845
			2,758
			699
			1,096
			2,770
			9,131
			6,185
			7,470
			10,361
			9,366
			10,168
			9,935
			10,074
			3,543
			382
			1,494
			755
			6,173
			-16,205
			-1,515
			5,133
			-2,246
			-1,591
			-847
			5,086
			3,279
			1,278
			2,231
			1,323
			3,945
			9,612
			2,438
			2,097
			4,890
			2,792
			12,583
			3,884
			-497
			-833
			-82
			-528
			-1,368
			-902
			-1,510
			-671
			-759
			5,881
			3,529
			6,321
			11,032
			7,784
			11,948
			9,593
			14,671
			981
			1,115
			407
			288
			869
			624
			2,840
			680
			700
			663
			1,116
			746
			1,256
			887
			1,857
			1,451
			125
			684
			1,205
			539
			1,165
			988
			833
			1,747
			2,473
			3,520
			6,407
			8,770
			1,970
			5,276
			2,844
			1,924
			2,872
			8,877
			8,696
			763
			3,199
			-154
			-200
			71
			1,048
			32
			820
			351
			135
			731
			265
			12
			793
			25
			734
			490
			954
			1,348
			80
			391
			727
			65
			258
			820
			1,087
			44
			777
			222
			571
			266
			1,349
			405
			1,792
			114
			1,750
			2,079
			609
			932
			3,605
			396
			2,604
			3,554
			3,819
			2,932
			5,332
			2,273
			317
			244
			81
			81
			439
			6,295
			3,670
			3,981
			1,138
			-1,404
			63
			30
			1,496
			327,900

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	2,101,821
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	30,104
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	30,104
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	30,104
6	Credits/Payments:

a	2025 estimated tax payments and 2024 overpayment credited to 2025	6a	19,160
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	28,000
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	47,160
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	447
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	16,609
11	Enter the amount of line 10 to be: Credited to 2026 estimated tax16,609	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. $ 0(2) On foundation managers.$ 0

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

on foundation managers.$ 0

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 addressN/A

The books are in care ofMAXINE STUART FRANKEL Telephone no. (248) 649-2924

Located at1334 MAPLELAWN DRIVETROYMI ZIP+448084

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
MAXINE FRANKEL	PRESIDENT 1.00	0	0	0
1334 MAPLELAWN DRIVE TROY,MI48084	PRESIDENT 1.00	0	0	0
STUART FRANKEL	SECRETARY/TR 1.00	0	0	0
1334 MAPLELAWN DRIVE TROY,MI48084	SECRETARY/TR 1.00	0	0	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.........................0

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

8,314,761

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

242,214

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

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

8,556,975

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

8,556,975

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

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

128,355

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

8,428,620

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

421,431

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

421,431

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

30,104

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

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

30,104

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

391,327

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

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

391,327

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

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

391,327

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) ..........

150,000

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. .......

150,000

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				391,327
2 Undistributed income, if any, as of the end of 2025:
a Enter amount for 2024 only.......			112,583
b Total for prior years:20 , 20, 20		0
3 Excess distributions carryover, if any, to 2025:
a From 2020......
b From 2021......
c From 2022......
d From 2023......
e From 2024......
f Total of lines 3a through e ........	0
4Qualifying distributions for 2025 from Part
XI, line 4: $ 150,000
a Applied to 2024, but not more than line 2a			112,583
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.....				37,417
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 ..........				353,910
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 ....
b Excess from 2022 ....
c Excess from 2023 ....
d Excess from 2024 ....
e Excess from 2025 ....

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).)

MAXINE FRANKEL

STUART FRANKEL

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
NATIONAL PHILANTHROPIC TRUST 165 TOWNSHIP LINE ROAD SUITE 1200 JENKINTOWN,PA19046			TO SUPPORT THE MISSION OF THE ORGANZATION	150,000
Total ................................. 3a				150,000

bApproved for future payment

Total ................................. 3b				0

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 ...........			14	5,616
4 Dividends and interest from securities ....			14	71,519
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	2,101,821
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) ..		0		2,178,956	0

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

2,178,956

(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.)
7	INVESTMENT ACTIVITY

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
S&J FRANKEL FINE ARTS FOUNDATION	PRIVATE FOUNDATION	COMMON MANAGER
M&S FRANKEL ARTS FOUNDATION	PRIVATE FOUNDATION	COMMON MANAGER

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

Category	Amount	Net Investment Income
MICHIGAN ANNUAL RETURN	0	0
FOREIGN TAXES PAID	968	968
EXCISE TAX	31,891	0