The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC COM 00287Y109 10,349,953 41,130 SH SOLE 41,130 0 0
ABRDN ETFS BBRG ALL COMD K1 003261104 20,957,154 938,100 SH SOLE 938,100 0 0
ADVANCED MICRO DEVICES INC COM 007903107 9,939,370 17,110 SH SOLE 17,110 0 0
ALPHABET INC CAP STK CL C 02079K107 67,062,034 189,800 SH SOLE 189,800 0 0
ALPHABET INC CAP STK CL A 02079K305 116,688,452 326,520 SH SOLE 326,520 0 0
ALTRIA GROUP INC COM 02209S103 21,066,960 292,800 SH SOLE 292,800 0 0
AMAZON COM INC COM 023135106 102,436,149 429,790 SH SOLE 429,790 0 0
AMERICAN ELEC PWR CO INC COM 025537101 8,208,600 60,000 SH SOLE 60,000 0 0
AMERICAN TOWER CORP COM 03027X100 3,574,005 21,850 SH SOLE 21,850 0 0
APPLE INC COM 037833100 153,378,162 530,060 SH SOLE 530,060 0 0
ASML HLDG NV N Y REGISTRY SHS N07059210 1,989,440 1,000 SH SOLE 1,000 0 0
BANCO SANTANDER SA ADR 05964H105 1,818,564 131,780 SH SOLE 131,780 0 0
BANK OF AMER CORP COM 060505104 15,211,381 266,960 SH SOLE 266,960 0 0
BARCLAYS PLC ADR 06738E204 3,824,864 142,400 SH SOLE 142,400 0 0
BHP BILLITON LIMITED SPONSORED ADS 088606108 3,099,132 37,200 SH SOLE 37,200 0 0
BOSTON SCIENTIFIC CORP COM 101137107 3,306,846 77,480 SH SOLE 77,480 0 0
BP PLC SPONSORED ADR 055622104 2,760,165 74,700 SH SOLE 74,700 0 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 20,708,128 335,300 SH SOLE 335,300 0 0
BROADCOM INC COM 11135F101 49,137,720 130,080 SH SOLE 130,080 0 0
CANADIAN IMPERIAL BANK OF CO COM 136069101 1,932,000 16,800 SH SOLE 16,800 0 0
CANADIAN NAT RES LTD MED TER COM 136385101 2,105,350 53,300 SH SOLE 53,300 0 0
CATERPILLAR INC COM 149123101 10,329,530 9,700 SH SOLE 9,700 0 0
CHEVRON CORPORATION COM 166764100 11,957,926 72,140 SH SOLE 72,140 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 7,289,940 214,410 SH SOLE 214,410 0 0
CHUBB LIMITED COM H1467J104 7,905,168 23,200 SH SOLE 23,200 0 0
CISCO SYS INC COM 17275R102 14,707,167 125,210 SH SOLE 125,210 0 0
CME GROUP INC COM 12572Q105 12,956,096 58,670 SH SOLE 58,670 0 0
COCA COLA CO COM 191216100 25,475,301 313,465 SH SOLE 313,465 0 0
COMCAST CORP NEW CL A 20030N101 2,453,773 99,950 SH SOLE 99,950 0 0
CORNING INC COM 219350105 21,175,147 82,900 SH SOLE 82,900 0 0
CROWN CASTLE INC COM 22822V101 2,866,381 37,850 SH SOLE 37,850 0 0
CVS HEALTH CORP COM 126650100 2,017,275 19,500 SH SOLE 19,500 0 0
DANAHER CORP DEL COM 235851102 6,916,329 36,310 SH SOLE 36,310 0 0
DIGITAL RLTY TR INC COM 253868103 3,164,200 17,620 SH SOLE 17,620 0 0
DISNEY WALT CO COM 254687106 3,886,575 40,380 SH SOLE 40,380 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 23,700,839 187,240 SH SOLE 187,240 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 7,472,901 82,610 SH SOLE 82,610 0 0
ELI LILLY & CO COM 532457108 15,700,539 13,090 SH SOLE 13,090 0 0
ENBRIDGE INC COM 29250N105 3,333,915 61,500 SH SOLE 61,500 0 0
EXXON MOBIL CORP COM 30231G102 34,555,980 252,750 SH SOLE 252,750 0 0
GE VERNOVA INC COM 36828A101 21,029,994 17,900 SH SOLE 17,900 0 0
GILEAD SCIENCES INC COM 375558103 3,044,794 24,100 SH SOLE 24,100 0 0
HALLIBURTON CO COM 406216101 1,794,937 52,870 SH SOLE 52,870 0 0
HARTFORD INSURANCE GROUP INC COM 416515104 10,088,748 76,130 SH SOLE 76,130 0 0
HOME DEPOT INC COM 437076102 14,844,301 42,090 SH SOLE 42,090 0 0
ILLINOIS TOOL WKS INC COM 452308109 8,820,027 32,610 SH SOLE 32,610 0 0
ING GROEP N.V. SPONSORED ADR 456837103 2,576,298 82,100 SH SOLE 82,100 0 0
INTEL CORP COM 458140100 20,022,942 143,400 SH SOLE 143,400 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 12,294,501 43,720 SH SOLE 43,720 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 6,128,249 15,410 SH SOLE 15,410 0 0
INVESCO ACTVELY MNGD ETC FD OPTIMUM YIELD 46090F100 7,146,000 450,000 SH SOLE 450,000 0 0
INVESCO DB COMMDY INDX TRCK UNIT 46138B103 7,464,800 280,000 SH SOLE 280,000 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 4,255,400 20,000 SH SOLE 20,000 0 0
ISHARES INC MSCI CDA ETF 464286509 7,769,872 134,800 SH SOLE 134,800 0 0
ISHARES INC CORE MSCI EMKT 46434G103 84,496,800 1,020,000 SH SOLE 1,020,000 0 0
ISHARES TR S&P 100 ETF 464287101 10,976,100 30,000 SH SOLE 30,000 0 0
ISHARES TR CORE US AGGBD ET 464287226 51,766,540 523,000 SH SOLE 523,000 0 0
ISHARES TR US TREAS BD ETF 46429B267 28,475,000 1,250,000 SH SOLE 1,250,000 0 0
ISHARES TR CORE MSCI EAFE 46432F842 54,084,800 560,000 SH SOLE 560,000 0 0
JOHNSON & JOHNSON COM 478160104 43,482,204 171,210 SH SOLE 171,210 0 0
JPMORGAN CHASE & CO COM 46625H100 30,798,152 94,089 SH SOLE 94,089 0 0
LINDE PLC SHS G54950103 1,894,131 3,650 SH SOLE 3,650 0 0
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 2,380,214 408,270 SH SOLE 408,270 0 0
MARRIOTT INTL INC NEW CL A 571903202 8,653,277 23,350 SH SOLE 23,350 0 0
MASTERCARD INCORPORATED CL A 57636Q104 6,194,016 12,060 SH SOLE 12,060 0 0
MERCK & CO INC COM 58933Y105 4,176,250 32,500 SH SOLE 32,500 0 0
META PLATFORMS INC CL A 30303M102 51,642,427 91,680 SH SOLE 91,680 0 0
MICRON TECHNOLOGY INC COM 595112103 27,356,673 23,700 SH SOLE 23,700 0 0
MICROSOFT CORP COM 594918104 92,751,423 248,650 SH SOLE 248,650 0 0
MITSUBISHI UFJ FINANCIAL GRO SPONSORED ADS 606822104 1,682,097 84,570 SH SOLE 84,570 0 0
NATIONAL GRID PLC SPONSORED ADR NE 636274409 17,759,041 214,300 SH SOLE 214,300 0 0
NAVAN INC CL A 639193101 1,682,226 73,556 SH SOLE 73,556 0 0
NETFLIX INC. COM 64110L106 4,066,944 56,960 SH SOLE 56,960 0 0
NEWMONT CORP COM 651639106 15,700,540 168,100 SH SOLE 168,100 0 0
NEXTERA ENERGY INC COM 65339F101 4,001,434 45,590 SH SOLE 45,590 0 0
NORTHROP GRUMMAN CORP COM 666807102 7,807,722 15,330 SH SOLE 15,330 0 0
NOVARTIS AG SPONSORED ADR 66987V109 7,585,248 48,400 SH SOLE 48,400 0 0
NOVO-NORDISK A S ADR 670100205 1,481,346 30,900 SH SOLE 30,900 0 0
NVIDIA CORPORATION COM 67066G104 164,319,911 821,230 SH SOLE 821,230 0 0
ORACLE CORP COM 68389X105 2,564,625 17,500 SH SOLE 17,500 0 0
PEPSICO INC COM 713448108 21,241,552 156,880 SH SOLE 156,880 0 0
PHILIP MORRIS INTL INC COM 718172109 17,620,634 97,400 SH SOLE 97,400 0 0
PROCTER & GAMBLE CO COM 742718109 13,900,006 94,790 SH SOLE 94,790 0 0
PROLOGIS INC. COM 74340W103 3,993,656 29,480 SH SOLE 29,480 0 0
REGENERON PHARMACEUTICALS COM 75886F107 1,995,328 3,200 SH SOLE 3,200 0 0
RIO TINTO PLC SPONSORED ADR 767204100 2,685,570 28,290 SH SOLE 28,290 0 0
RTX CORPORATION COM 75513E101 15,333,979 80,820 SH SOLE 80,820 0 0
SALESFORCE INC COM 79466L302 8,083,656 51,600 SH SOLE 51,600 0 0
SANDISK CORP COM 80004C200 60,481,218 26,600 SH SOLE 26,600 0 0
SAP SE SPON ADR 803054204 1,510,278 9,800 SH SOLE 9,800 0 0
SERVICENOW INC COM 81762P102 3,377,406 34,019 SH SOLE 34,019 0 0
SHELL PLC SPON ADS 780259305 5,613,896 72,400 SH SOLE 72,400 0 0
SLB LIMITED COM STK 806857108 2,110,646 45,400 SH SOLE 45,400 0 0
SOUTHERN CO COM 842587107 13,264,449 138,590 SH SOLE 138,590 0 0
SUMITOMO MITSUI FIN GRP INC SPONSORED ADR 86562M209 1,741,855 73,870 SH SOLE 73,870 0 0
SUNCOR ENERGY INC NEW COM 867224107 1,631,872 30,400 SH SOLE 30,400 0 0
TAIWAN SEMICONDUCTOR MANUFAC SPONSORED ADS 874039100 55,493,634 116,200 SH SOLE 116,200 0 0
TESLA INC COM 88160R101 36,087,480 85,800 SH SOLE 85,800 0 0
TEXAS INSTRS INC COM 882508104 21,010,954 70,490 SH SOLE 70,490 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 7,279,747 14,520 SH SOLE 14,520 0 0
TOTALENERGIES SE ACT F92124100 11,772,864 151,400 SH SOLE 151,400 0 0
TOYOTA MOTOR CORP ADS 892331307 2,101,882 12,480 SH SOLE 12,480 0 0
UNILEVER PLC SPON ADR NEW 904767803 8,068,104 134,200 SH SOLE 134,200 0 0
UNION PAC CORP COM 907818108 14,951,840 54,970 SH SOLE 54,970 0 0
UNITEDHEALTH GROUP INC COM 91324P102 6,138,855 14,770 SH SOLE 14,770 0 0
US BANCORP COM NEW 902973304 5,483,112 90,780 SH SOLE 90,780 0 0
VANGUARD ADMIRAL FDS INC MIDCP 400 IDX 921932885 70,416,000 540,000 SH SOLE 540,000 0 0
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835 54,837,270 747,000 SH SOLE 747,000 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 153,158,630 223,000 SH SOLE 223,000 0 0
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 34,136,625 217,500 SH SOLE 217,500 0 0
VANGUARD SCOTTSDALE FDS VNG RUS2000IDX 92206C664 12,142,000 100,000 SH SOLE 100,000 0 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 5,982,375 79,500 SH SOLE 79,500 0 0
VANGUARD SCOTTSDALE FDS LONG TERM TREAS 92206C847 35,315,200 640,000 SH SOLE 640,000 0 0
VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 921943858 89,062,500 1,250,000 SH SOLE 1,250,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 14,082,284 332,600 SH SOLE 332,600 0 0
VISA INC COM CL A 92826C839 7,445,053 21,700 SH SOLE 21,700 0 0
WALMART INC COM 931142103 15,756,731 139,120 SH SOLE 139,120 0 0