13F

Position

SYNTAX RESEARCH, INC. in Merck & Co., Inc.

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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 $20.8K$105.25$120.29

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20254.82K$506.9K0.3%
Q1 20261.38K$166.1K$120.29$20.8K−$361.5K0.1%