13F

Position

Summit Trail Advisors, LLC in Automatic Data Processing In

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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 −$731K$258.76$203.18

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 202513.2K$3.4M0.1%
Q1 202617.3K$3.51M$203.18−$731K$841.4K0.1%