13F

Position

First Command Advisory Services, Inc. in Ferrari N.V.

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark −$62$369.50$338.50

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20252$7390.0%
Q1 20262$677$338.50−$62$00.0%