Moseley Investment Management Inc.

Name: MOSELEY INVESTMENT MANAGEMENT INC 13F holdings, Q4 2024
Creator: MOSELEY INVESTMENT MANAGEMENT INC
Published: 2025-01-14

Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 14, 2025), Moseley Investment Management Inc. reported 149 stock positions worth $256.2 million. Its top holding was Apple (AAPL) at 6.8% of the portfolio, followed by iShares Ibonds Dec 2025 Term (IBTF, 6.2%) and Nvidia (NVDA, 4.4%). Compared with Q3 2024, it opened 6 new positions, sold out of 10, added to 56 and reduced 67. The biggest buy was Alphabet Class A (GOOGL, shares +14%) and the biggest sale Nvidia (NVDA, shares −18%).

Most Recent 13F: Q1 2026
Location: BRADENTON, FL
CIK: 0000906396
Portfolio Value: $256.2M (Q4 2024)
SEC Filing: 0000906396-25-000001 ↗ filed Jan 14, 2025

Holdings Value

Holdings 149 stocks · $256.2M


AAPL Apple Inc.	6.81%	69,675	$17.4M	Reduce -4.3%
IBTF iShares Ibonds Dec 2025 Term	6.19%	679,833	$15.9M	Add +2.9%
NVDA Nvidia Corp.	4.39%	83,815	$11.3M	Reduce -17.6%
AMZN Amazon.com Inc.	4.01%	46,816	$10.3M	Reduce -1.3%
AVGO Broadcom Inc.	3.99%	44,125	$10.2M	Reduce -0.9%
MSFT Microsoft Corp.	3.81%	23,149	$9.8M	Reduce -4.0%
BRK.B Berkshire Hathaway Inc. Class B	3.74%	21,118	$9.6M	Add +1.5%
GOOGL Alphabet Inc. Class A	3.36%	45,432	$8.6M	Add +14.4%
IBTI iShares Ibonds Dec 2028 Term	3.25%	380,302	$8.3M	Add +4.2%
TSLA Tesla Inc.	3.23%	20,514	$8.3M	Reduce -15.0%
ETN Eaton Corp. PLC	2.70%	20,833	$6.9M	Add +8.1%
IBDR iShares Ibonds Dec 2026 Term	2.40%	255,272	$6.1M	Add +6.4%
VIG Vanguard Dividend Apprec ETF	1.92%	25,072	$4.9M	Add +22.3%
HD Home Depot Inc.	1.83%	12,082	$4.7M	Add +0.7%
JPM JPMorgan Chase & Co.	1.74%	18,590	$4.5M	Add +1.1%
NEE Nextera Energy Inc.	1.44%	51,590	$3.7M	Reduce -10.2%
IBDW iShares Ibonds Dec 2031 Corp.	1.39%	175,467	$3.6M	Add +6.8%
LLY Eli Lilly & Co.	1.10%	3,635	$2.8M	Reduce -0.8%
VTI VG Morningstar TS MKT ETF-US	1.05%	9,299	$2.7M	Add +6.7%
PEP Pepsico Inc.	1.05%	17,662	$2.7M	Reduce -3.4%
LMT Lockheed Martin Corp.	1.03%	5,433	$2.6M	Add +1.9%
QCOM Qualcomm Inc.	1.03%	17,111	$2.6M	Reduce -3.5%
META Meta Platforms Inc. Class A	0.97%	4,254	$2.5M	Add +0.3%
NFLX Netflix Inc.	0.92%	2,648	$2.4M	Add +6.9%
COST Costco Wholesale Corp.	0.85%	2,377	$2.2M	Reduce -0.5%
HON Honeywell International Inc.	0.80%	9,099	$2.1M	Reduce -3.4%
VGT Vanguard Info Tech ETF	0.80%	3,288	$2.0M	Reduce -6.4%
V Visa Inc. Class A	0.79%	6,437	$2.0M	Reduce -6.5%
JNJ Johnson & Johnson	0.79%	13,956	$2.0M	Reduce -4.7%
BX Blackstone Inc.	0.78%	11,552	$2.0M	Reduce -0.1%
PLTR Palantir Technologies Inc. Class A	0.76%	25,614	$1.9M	Reduce -0.2%
VIGI Vanguard Int Div App Indx FD	0.75%	24,062	$1.9M	Add +4.0%
VUG Vanguard Mrngstar GR ETF-Sui	0.74%	4,638	$1.9M	Add +10.3%
VLO Valero Energy Corp.	0.72%	15,089	$1.8M	Add +3.0%
JEPI JPMorgan Equity Premium Inco	0.71%	31,822	$1.8M	Add +9.1%
AXON Axon Enterprise Inc.	0.68%	2,923	$1.7M	Reduce -3.1%
CRWD CrowdStrike Holdings Inc. Class A	0.65%	4,851	$1.7M	Reduce -3.0%
BN Brookfield Corp.	0.65%	28,785	$1.7M	No change
VZ Verizon Communications Inc.	0.63%	40,083	$1.6M	Reduce -15.8%
AMGN Amgen Inc.	0.62%	6,139	$1.6M	Add +0.4%
IBMO iShares Ibonds Dec 2026 Term	0.62%	61,929	$1.6M	Add +37.8%
CVX Chevron Corp.	0.60%	10,677	$1.5M	Add +0.0%
VYM Vanguard High DVD Yield ETF	0.59%	11,799	$1.5M	Add +1.5%
MELI MercadoLibre Inc.	0.55%	832	$1.4M	Reduce -1.4%
ABBV Abbvie Inc.	0.55%	7,883	$1.4M	Add +1.6%
MKC McCormick & Co.-Non VTG SHRS	0.53%	17,645	$1.3M	Reduce -3.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.52%	11,894	$1.3M	Reduce -0.6%
EPD Enterprise Products Partners	0.52%	42,077	$1.3M	Reduce -9.7%
UNH Unitedhealth Group Inc.	0.50%	2,532	$1.3M	Reduce -1.9%
GOOG Alphabet Inc. Class C	0.48%	6,488	$1.2M	Add +8.4%
ALSN Allison Transmission Holding	0.47%	11,102	$1.2M	No change
CRM Salesforce Inc.	0.46%	3,524	$1.2M	Add +29.4%
PG The Procter & Gamble Co.	0.46%	6,999	$1.2M	Reduce -2.1%
ISRG Intuitive Surgical Inc.	0.44%	2,139	$1.1M	Add +2.4%
IBMS ISHARESIBONDDEC2030MUNIBDETF	0.43%	43,836	$1.1M	Reduce -38.4%
AMD Advanced Micro Devices	0.43%	9,152	$1.1M	Reduce -9.2%
CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT	0.43%	37,711	$1.1M	Add +7.7%
WMT Walmart Inc.	0.43%	12,155	$1.1M	Add +0.3%
VYMI Vanguard Int High DVD YLD Inc.	0.42%	15,702	$1.1M	Add +5.0%
BCPC Balchem Corp.	0.41%	6,374	$1.0M	No change
CMG Chipotle Mexican Grill Inc.	0.36%	15,341	$925K	Reduce -1.0%
NSA National Storage Affiliates	0.36%	24,367	$924K	Reduce -0.9%
ZTS Zoetis Inc.	0.36%	5,642	$919K	Reduce -23.9%
MDT Medtronic PLC	0.34%	10,855	$867K	Reduce -20.1%
IBTG iShares Ibonds Dec 2026 Term	0.34%	37,900	$864K	Add +17.0%
QQQ Invesco QQQ Trust Series 1	0.33%	1,677	$857K	Add +1.6%
MA Mastercard Inc. Class A	0.33%	1,590	$837K	Reduce -0.2%
SHW The Sherwin-Williams Co.	0.31%	2,357	$801K	Reduce -2.2%
SPGI S&P Global Inc.	0.31%	1,572	$783K	No change
SCHW Schwab (charles) Corp.	0.30%	10,439	$773K	No change
J Jacobs Solutions Inc.	0.29%	5,556	$742K	Reduce -8.8%
VT Vanguard Tot World STK ETF	0.28%	6,177	$726K	Add +5.6%
O Realty Income Corp.	0.27%	12,999	$694K	Reduce -0.4%
TYL Tyler Technologies Inc.	0.27%	1,201	$693K	No change
DPZ Domino's Pizza Inc.	0.27%	1,630	$684K	Reduce -1.9%
SPY SS SPDR S&P 500 ETF Trust-US	0.26%	1,145	$671K	Add +86.5%
XOM Exxon Mobil Corp.	0.25%	5,978	$643K	Add +6.2%
MRK Merck & Co. Inc.	0.25%	6,379	$635K	Add +0.5%
EQIX Equinix Inc.	0.25%	668	$630K	Add +17.2%
JBL Jabil Inc.	0.24%	4,285	$617K	No change
SPTM SS SPDR P S&P 1500 Comp ETF	0.24%	8,569	$612K	Reduce -4.8%
SCHX Schwab US Large-Cap ETF	0.24%	26,073	$604K	No change
GLD SPDR Gold Shares	0.23%	2,432	$589K	Reduce -29.1%
BKNG Booking Holdings Inc.	0.22%	112	$557K	Reduce -1.8%
SBUX Starbucks Corp.	0.22%	6,048	$552K	Reduce -7.0%
LOW Lowe's Cos Inc.	0.21%	2,180	$538K	Reduce -1.2%
TXN Texas Instruments Inc.	0.21%	2,825	$530K	Add +2.3%
SO The Southern Co.	0.20%	6,295	$518K	Add +0.3%
SHM SS SPDR N Ice St Muni ETF	0.20%	10,906	$517K	Add +4.2%
FDL First Trust Morn DVD Lead Inc.	0.19%	11,983	$482K	Add +4.7%
VTEB Vanguard Tax-Exempt Bond ETF	0.19%	9,621	$482K	Reduce -8.3%
SOFI Sofi Technologies Inc.	0.19%	31,036	$478K	Reduce -7.5%
SYY Sysco Corp.	0.19%	6,232	$476K	Reduce -8.7%
VTV Vanguard Mrngstr Val ETF-Aui	0.18%	2,788	$472K	Reduce -4.5%
XT Ishar Fture Exp Tech ETF-Usd	0.18%	7,710	$460K	Reduce -9.4%
VOO Vanguard S&P 500 ETF	0.18%	851	$459K	Reduce -0.8%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE	0.18%	1,060	$451K	New
BLK BlackRock Inc.	0.18%	438	$449K	Reduce -4.4%
WMB Williams Cos Inc.	0.17%	8,225	$445K	No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.17%	2,016	$443K	Add +0.7%
AFL Aflac Inc.	0.17%	4,177	$432K	Add +1.4%
GD General Dynamics Corp.	0.16%	1,581	$417K	Add +0.2%
SHOP Shopify Inc. Class A	0.16%	3,880	$413K	Reduce -35.2%
SE Sea Ltd.-ADR	0.16%	3,870	$411K	Add +4.3%
CALF PCR US SM CP CSH CWS ETF-Usd	0.15%	9,015	$397K	Reduce -11.9%
SCHB Schwab US Broad Market ETF	0.15%	16,476	$374K	No change
PYPL PayPal Holdings Inc.	0.14%	4,256	$363K	Reduce -13.6%
GPIX GLDM SA S&P 500 PR in ETF-US	0.14%	7,082	$350K	Add +13.4%
RSST Return Stacked US SM FTR ETF	0.13%	14,121	$337K	Reduce -6.0%
IBIT iShares Bitcoin Trust ETF	0.13%	6,112	$324K	New
VNQ Vanguard Real Estate ETF	0.12%	3,589	$320K	Add +3.9%
TDG Transdigm Group Inc.	0.12%	250	$317K	Add +15.2%
BAM Brookfield Asset Mgmt-A	0.12%	5,811	$315K	No change
PAYX Paychex Inc.	0.12%	2,180	$306K	Add +0.3%
AMLP Alerian MLP ETF	0.12%	6,249	$301K	Reduce -7.9%
TSM Taiwan Semiconductor-SP ADR	0.12%	1,511	$298K	Reduce -1.9%
ADBE Adobe Inc.	0.11%	639	$284K	Reduce -3.3%
VHT Vanguard Health Care ETF	0.11%	1,114	$283K	Reduce -1.5%
SPYG SS SPDR P S&P 500 Growth ETF	0.11%	3,214	$282K	Reduce -8.2%
BEPC Brookfield Renewable Corp.	0.11%	10,189	$282K	Reduce -11.6%
THC Tenet Healthcare Corp.	0.11%	2,211	$279K	Reduce -19.0%
USB US Bancorp	0.11%	5,821	$278K	Reduce -1.0%
SPLV Invesco S&P 500 Low Volatili	0.11%	3,874	$271K	Add +1.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.10%	6,109	$269K	Add +0.9%
TXT Textron Inc.	0.10%	3,500	$268K	No change
ITW Illinois Tool Works	0.10%	1,039	$263K	Add +1.3%
BSV Vanguard Short-Term Bond ETF	0.10%	3,409	$263K	Reduce -13.6%
IDXX Idexx Laboratories Inc.	0.10%	625	$258K	No change
VEEV Veeva Systems Inc. Class A	0.10%	1,222	$257K	Reduce -36.9%
VCSH Vanguard S/T Corp. Bond ETF	0.10%	3,266	$255K	Add +0.3%
WM Waste Management Inc.	0.10%	1,236	$249K	No change
VST Vistra Corp.	0.10%	1,799	$248K	New
NOC Northrop Grumman Corp.	0.10%	527	$247K	No change
WSM Williams-Sonoma Inc.	0.10%	1,336	$247K	Add +2.4%
UL Unilever PLC	0.09%	4,206	$238K	Reduce -1.4%
CIBR First Trust Nasdaq Cybersecu	0.09%	3,728	$237K	No change
ACN Accenture PLC Class A	0.09%	665	$234K	Add +1.7%
BR Broadridge Financial Solutio	0.09%	1,010	$228K	No change
RJF Raymond James Financial Inc.	0.09%	1,425	$221K	New
DTD Wisdomtree US Total Dividend	0.08%	2,848	$216K	No change
TMO Thermo Fisher Scientific Inc.	0.08%	413	$215K	Reduce -2.4%
PFF iShares Preferred & Income S	0.08%	6,833	$215K	Add +0.1%
XYL Xylem Inc.	0.08%	1,817	$211K	Add +0.8%
CSCO Cisco Systems Inc.	0.08%	3,507	$208K	New
KMB Kimberly-Clark Corp.	0.08%	1,548	$203K	Reduce -0.6%
VPU Vanguard Utilities ETF	0.08%	1,231	$201K	Reduce -2.0%
IVV iShares Core S&P 500 ETF	0.08%	341	$201K	New
OPK Opko Health Inc.	0.01%	24,153	$36K	No change
ARAY Accuray Inc.	0.01%	12,000	$24K	No change

Portfolio Sells Q3 2024 → Q4 2024


NVDA Nvidia Corp.	Reduce -17.6%	4.39%	−0.53
NEE Nextera Energy Inc.	Reduce -10.2%	1.44%	−0.49
MSFT Microsoft Corp.	Reduce -4.0%	3.81%	−0.33
IBMS ISHARESIBONDDEC2030MUNIBDETF	Reduce -38.4%	0.43%	−0.30
AMD Advanced Micro Devices	Reduce -9.2%	0.43%	−0.23
VZ Verizon Communications Inc.	Reduce -15.8%	0.63%	−0.23
ZTS Zoetis Inc.	Reduce -23.9%	0.36%	−0.22
LLY Eli Lilly & Co.	Reduce -0.8%	1.10%	−0.20
PEP Pepsico Inc.	Reduce -3.4%	1.05%	−0.19
QCOM Qualcomm Inc.	Reduce -3.5%	1.03%	−0.18
JNJ Johnson & Johnson	Reduce -4.7%	0.79%	−0.16
MDT Medtronic PLC	Reduce -20.1%	0.34%	−0.15
MELI MercadoLibre Inc.	Reduce -1.4%	0.55%	−0.14
NSA National Storage Affiliates	Reduce -0.9%	0.36%	−0.11
GLD SPDR Gold Shares	Reduce -29.1%	0.23%	−0.10
NOW ServiceNow Inc.	Sold out	0.00%	−0.10
UNH Unitedhealth Group Inc.	Reduce -1.9%	0.50%	−0.10
NVO Novo-Nordisk A/S-Spons ADR	Sold out	0.00%	−0.10
CWB SS SPDR BB Conv Sec ETF	Sold out	0.00%	−0.09
HSY The Hershey Co.	Sold out	0.00%	−0.09
NET Cloudflare Inc. Class A	Sold out	0.00%	−0.09
BIV Vanguard Intermediate-Term B	Sold out	0.00%	−0.09
NKE Nike Inc. Class B	Sold out	0.00%	−0.08
DUK Duke Energy Corp.	Sold out	0.00%	−0.08
ABT Abbott Laboratories	Sold out	0.00%	−0.08
IWM iShares Russell 2000 ETF	Sold out	0.00%	−0.08
MKC McCormick & Co.-Non VTG SHRS	Reduce -3.7%	0.53%	−0.08
THC Tenet Healthcare Corp.	Reduce -19.0%	0.11%	−0.07
VEEV Veeva Systems Inc. Class A	Reduce -36.9%	0.10%	−0.06
O Realty Income Corp.	Reduce -0.4%	0.27%	−0.06
SHW The Sherwin-Williams Co.	Reduce -2.2%	0.31%	−0.05
BEPC Brookfield Renewable Corp.	Reduce -11.6%	0.11%	−0.04
SBUX Starbucks Corp.	Reduce -7.0%	0.22%	−0.04
PG The Procter & Gamble Co.	Reduce -2.1%	0.46%	−0.04
CALF PCR US SM CP CSH CWS ETF-Usd	Reduce -11.9%	0.15%	−0.04
SHOP Shopify Inc. Class A	Reduce -35.2%	0.16%	−0.03
J Jacobs Solutions Inc.	Reduce -8.8%	0.29%	−0.03
LOW Lowe's Cos Inc.	Reduce -1.2%	0.21%	−0.03
XT Ishar Fture Exp Tech ETF-Usd	Reduce -9.4%	0.18%	−0.03
SYY Sysco Corp.	Reduce -8.7%	0.19%	−0.03
EPD Enterprise Products Partners	Reduce -9.7%	0.52%	−0.03
VTEB Vanguard Tax-Exempt Bond ETF	Reduce -8.3%	0.19%	−0.03
ADBE Adobe Inc.	Reduce -3.3%	0.11%	−0.03
VGT Vanguard Info Tech ETF	Reduce -6.4%	0.80%	−0.02
BSV Vanguard Short-Term Bond ETF	Reduce -13.6%	0.10%	−0.02
TMO Thermo Fisher Scientific Inc.	Reduce -2.4%	0.08%	−0.02
VTV Vanguard Mrngstr Val ETF-Aui	Reduce -4.5%	0.18%	−0.02
DPZ Domino's Pizza Inc.	Reduce -1.9%	0.27%	−0.02
UL Unilever PLC	Reduce -1.4%	0.09%	−0.02
VHT Vanguard Health Care ETF	Reduce -1.5%	0.11%	−0.02

Portfolio Buys Q3 2024 → Q4 2024


GOOGL Alphabet Inc. Class A	Add +14.4%	3.36%	+0.73
VIG Vanguard Dividend Apprec ETF	Add +22.3%	1.92%	+0.30
NFLX Netflix Inc.	Add +6.9%	0.92%	+0.22
JPM JPMorgan Chase & Co.	Add +1.1%	1.74%	+0.19
DIA SS SPDR Dow Jones Indus Avg	New	0.18%	+0.18
CRM Salesforce Inc.	Add +29.4%	0.46%	+0.16
IBMO iShares Ibonds Dec 2026 Term	Add +37.8%	0.62%	+0.16
ETN Eaton Corp. PLC	Add +8.1%	2.70%	+0.15
IBIT iShares Bitcoin Trust ETF	New	0.13%	+0.13
SPY SS SPDR S&P 500 ETF Trust-US	Add +86.5%	0.26%	+0.12
VUG Vanguard Mrngstar GR ETF-Sui	Add +10.3%	0.74%	+0.10
VST Vistra Corp.	New	0.10%	+0.10
RJF Raymond James Financial Inc.	New	0.09%	+0.09
GOOG Alphabet Inc. Class C	Add +8.4%	0.48%	+0.08
CSCO Cisco Systems Inc.	New	0.08%	+0.08
IVV iShares Core S&P 500 ETF	New	0.08%	+0.08
IBDR iShares Ibonds Dec 2026 Term	Add +6.4%	2.40%	+0.07
VTI VG Morningstar TS MKT ETF-US	Add +6.7%	1.05%	+0.07
EQIX Equinix Inc.	Add +17.2%	0.25%	+0.04
IBTG iShares Ibonds Dec 2026 Term	Add +17.0%	0.34%	+0.04
WMT Walmart Inc.	Add +0.3%	0.43%	+0.04
ISRG Intuitive Surgical Inc.	Add +2.4%	0.44%	+0.03
JEPI JPMorgan Equity Premium Inco	Add +9.1%	0.71%	+0.02
SE Sea Ltd.-ADR	Add +4.3%	0.16%	+0.02
WSM Williams-Sonoma Inc.	Add +2.4%	0.10%	+0.02
GPIX GLDM SA S&P 500 PR in ETF-US	Add +13.4%	0.14%	+0.01
IBTF iShares Ibonds Dec 2025 Term	Add +2.9%	6.19%	+0.01
QQQ Invesco QQQ Trust Series 1	Add +1.6%	0.33%	+0.01
BAC Bank of America Corp.	Add +0.9%	0.10%	+0.01
CGGO Cap Group Global Growth	Add +7.7%	0.43%	+0.01
VT Vanguard Tot World STK ETF	Add +5.6%	0.28%	+0.00
PAYX Paychex Inc.	Add +0.3%	0.12%	+0.00
META Meta Platforms Inc. Class A	Add +0.3%	0.97%	+0.00
IBDW iShares Ibonds Dec 2031 Corp.	Add +6.8%	1.39%	+0.00
SHM SS SPDR N Ice St Muni ETF	Add +4.2%	0.20%	+0.00
TDG Transdigm Group Inc.	Add +15.2%	0.12%	+0.00
ACN Accenture PLC Class A	Add +1.7%	0.09%	−0.00
SPLV Invesco S&P 500 Low Volatili	Add +1.8%	0.11%	−0.00
FDL First Trust Morn DVD Lead Inc.	Add +4.7%	0.19%	−0.00
IBM Intl Business Machines Corp.	Add +0.7%	0.17%	−0.00
VCSH Vanguard S/T Corp. Bond ETF	Add +0.3%	0.10%	−0.00
ITW Illinois Tool Works	Add +1.3%	0.10%	−0.00
PFF iShares Preferred & Income S	Add +0.1%	0.08%	−0.01
VYM Vanguard High DVD Yield ETF	Add +1.5%	0.59%	−0.01
VNQ Vanguard Real Estate ETF	Add +3.9%	0.12%	−0.01
XOM Exxon Mobil Corp.	Add +6.2%	0.25%	−0.01
XYL Xylem Inc.	Add +0.8%	0.08%	−0.01
AFL Aflac Inc.	Add +1.4%	0.17%	−0.02
TXN Texas Instruments Inc.	Add +2.3%	0.21%	−0.02
VYMI Vanguard Int High DVD YLD Inc.	Add +5.0%	0.42%	−0.02

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q1 2026	162	$313.7M	IBTG, AAPL, IBTI, GOOGL, BRK.B
Q4 2025	165	$323.6M	AAPL, IBTG, IBTI, GOOGL, AVGO
Q3 2025	176	$328.6M	AAPL, IBTI, IBTF, MSFT, AVGO
Q2 2025	163	$290.2M	IBTF, AAPL, MSFT, IBTI, BRK.B
Q1 2025	151	$255.7M	IBTF, AAPL, BRK.B, BRK.A, IBTI
Q4 2024	149	$256.2M	AAPL, IBTF, NVDA, AMZN, AVGO
Q3 2024	153	$250.6M	AAPL, IBTF, NVDA, MSFT, BRK.B
Q2 2024	144	$215.4M	AAPL, NVDA, MSFT, AMZN, BRK.B
Q1 2024	148	$201.4M	AAPL, MSFT, NVDA, AMZN, BRK.B