XLK: 60-day history, VaR(99%)=-0.0368, max drawdown threshold=10%.

Question:
Asset: XLK
Daily returns (past 60 days): mean=0.0016, std=0.0148, worst_day=-0.0427
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[SEC 10-Q PFE 2024-11-04] pfe-20240929 0000078003 12/31 2024 Q3 false xbrli:shares iso4217:USD iso4217:USD xbrli:shares pfe:operatingSegment xbrli:pure pfe:facility pfe:patent pfe:treatmentCourse 0000078003 2024-01-01 2024-09-29 0000078003 us-gaap:CommonStockMember 2024-01-01 2024-09-29 0000078003 pfe:NotesDue20271.000Member 2024-01-01 2024-09-29 0000078003 2024-10-30 0000078003 us-gaap:ProductMember 2024-07-01 2024-09-29 0000078003 us-gaap:ProductMember 2023-07-03 2023-10-01 0000078003 us-gaap:ProductMember 2024-01-01 2024-09-29 0000078003 us-gaap:ProductMember 2023-01-01 2023-10-01 0000078003 2024-07-01 2024-09-29 0000078003 2023-07-03 2023-10-01 0000078003 2023-01-01 2023-10-01 0000078003 us-gaap:RoyaltyMember 2024-07-01 2024-09-29 0000078003 us-gaap:RoyaltyMember 2023-07-03 2023-10-01 0000078003 us-gaap:RoyaltyMember 2024-01-01 2024-09-29 0000078003 us-gaap:RoyaltyMember 2023-01-01 2023-10-01 0000078003 2024-09-29 0000078003 2023-12-31 0000078003 us-gaap:CommonStockMember 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pfe:DevelopedTechnologyRightsAndOtherIntangibleAssetsMember 2024-01-01 2024-09-29 0000078003 pfe:SeagenMe [...TRUNCATED...] 2024 14,581  $ 27.73  —  $ 3,292,882,444  July 29 through August 25, 2024 22,257  $ 30.44  —  $ 3,292,882,444  August 26 through September 29, 2024 57,730  $ 29.02  —  $ 3,292,882,444  Total 94,568  $ 29.16  —  (a) Represents (i) 91,700 shares of common stock surrendered to the Company to satisfy tax withholding obligations in connection with the vesting of awards under our long-term incentive programs and (ii) the open market purchase by the trustee of 2,868 shares of common stock in connection with the reinvestment of dividends paid on common stock held in trust for employees who deferred receipt of performance share awards. (b) See the Analysis of Financial Condition, Liquidity, Capital Resources and Market Risk—Capital Allocation Framework section within MD&A of this Form 10-Q and Note 12 in our 2023 Form 10-K. ITEM 5. OTHER INFORMATION During the three months ended September 29, 2024, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K. 60 ITEM 6. EXHIBITS   Exhibit 31.1 Certification by the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.   Exhibit 31.2 Certification by the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.   Exhibit 32.1 Certification by the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.   Exhibit 32.2 Certification by the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.   Exhibit 101:     EX-101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.   EX-101.SCH EX-101.CAL EX-101.LAB EX-101.PRE EX-101.DEF   Inline XBRL Taxonomy Extension Schema Inline XBRL Taxonomy Extension Calculation Linkbase Inline XBRL Taxonomy Extension Label Linkbase Inline XBRL Taxonomy Extension Presentation Linkbase Inline XBRL Taxonomy Extension Definition Document Exhibit 104 Cover Page Interactive Data File––the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   Pfizer Inc.   (Registrant)         Dated: November 4, 2024 /s/ Jennifer B. Damico   Jennifer B. Damico Senior Vice President and Controller (Principal Accounting Officer and Duly Authorized Officer) 61

Determine the maximum fraction of total portfolio capital that should be allocated to XLK, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0368 (i.e., a 3.68% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0368 = 2.7202, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.1347, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=-0.0058, std=0.0477, worst_day=-0.1455
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to MATIC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.7425

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1347 (i.e., a 13.47% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1347 = 0.7425, capped at 1.0.
Maximum position size = 0.7425 (74.2% of portfolio).


DOT-USD: 60-day history, VaR(99%)=-0.0698, max drawdown threshold=10%.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0028, std=0.0275, worst_day=-0.0870
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-05-18]

Determine the maximum fraction of total portfolio capital that should be allocated to DOT-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0698 (i.e., a 6.98% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0698 = 1.4322, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ADA-USD: 60-day history, VaR(99%)=-0.0329, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=-0.0010, std=0.0161, worst_day=-0.0387
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-10-17]

Determine the maximum fraction of total portfolio capital that should be allocated to ADA-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0329 (i.e., a 3.29% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0329 = 3.0419, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


EMB: 60-day history, VaR(99%)=-0.0091, max drawdown threshold=10%.

Question:
Asset: EMB
Daily returns (past 60 days): mean=0.0010, std=0.0039, worst_day=-0.0102
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to EMB, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0091 (i.e., a 0.91% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0091 = 11.0071, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


VLUE: 60-day history, VaR(99%)=-0.0213, max drawdown threshold=10%.

Question:
Asset: VLUE
Daily returns (past 60 days): mean=-0.0008, std=0.0110, worst_day=-0.0216
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-05-26] ["Alphabet CEO Sundar Pichai Commits to \"AI Pact\": What Does This Really Mean? The world of artificial intelligence (AI) is moving at a breakneck speed, and top corporate and political leaders are trying to safely guide its evolution. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) CEO Sundar Pichai met with European Commissioner for the internal market Thierry Breton on Wednesday to discuss the progression of AI and map out possible actions to help ensure the emerging technology doesn't get out of hand. In the meeting, Pichai promised that his company would join an \"AI pact\" and collaborate with other players in the artificial intelligence space on a volunteer basis to shape and abide by guidelines for tech development. But while there's seemingly a lot to like about the prospect of guardrails being put on AI, it's not clear that voluntary pacts or even strict laws will be able to address many of the potential problems that could arise. Could an AI pact help stave off potential disasters? While detailed specifics of what rules and guidelines members of an AI pact would be adhering to haven't been made available, Pichai's discussion with other members of the European Commission suggest that privacy standards and fighting misinformation could be key focuses. The rapid progression for artificial intelligence tech over the last year is unprecedented, and continued advances could be unwieldy. Because legislative bodies can be slow to act and laws vary between territories, it could be important for technology leaders to attempt to establish some kind of presiding framework for artificial intelligence initiatives. Taking a proactive approach to the problems and questions raised by incredible leaps forward for artificial intelligence could help minimize the possibility of disastrous outcomes stemming from the tech. The AI pact mentioned by Pichai at the meeting with Breton seems to be a step in this direction. But there's a risk that rules surrounding AI might not amount to much. For one, it's possible that voluntary AI guidelines and restrictions will be followed very loosely or only in the most nominal senses. It's also possible that those who don't abide by rules for the artificial intelligence project, whether self-imposed or through regulations, could actually gain significant competitive advantages. Controlling AI could be incredibly difficult The European Parliament is currently finalizing a new set of rules and restrictions that will govern AI technologies. The EU AI Act isn't officially law yet, but it's seemingly headed in that direction and could be a landmark response that plays a big role in the tech's evolution in Europe. But it might not be enough, and it may have unintended consequences. Developing ways to work around restrictions could be incentivized by the proposed regulations, and the speed at which AI tech has been progressing will make it difficult for regulators to keep up. Additionally, there are already signs that influential player

Determine the maximum fraction of total portfolio capital that should be allocated to VLUE, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0213 (i.e., a 2.13% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0213 = 4.6961, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SHY: 60-day history, VaR(99%)=-0.0024, max drawdown threshold=10%.

Question:
Asset: SHY
Daily returns (past 60 days): mean=0.0002, std=0.0010, worst_day=-0.0024
Maximum acceptable portfolio drawdown: 10%
Market regime: bull

Determine the maximum fraction of total portfolio capital that should be allocated to SHY, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0024 (i.e., a 0.24% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0024 = 41.0549, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SOL-USD: 60-day history, VaR(99%)=-0.1009, max drawdown threshold=10%.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=0.0082, std=0.0660, worst_day=-0.1182
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-03-07]

Determine the maximum fraction of total portfolio capital that should be allocated to SOL-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.9913

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1009 (i.e., a 10.09% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1009 = 0.9913, capped at 1.0.
Maximum position size = 0.9913 (99.1% of portfolio).


XLY: 60-day history, VaR(99%)=-0.0341, max drawdown threshold=10%.

Question:
Asset: XLY
Daily returns (past 60 days): mean=-0.0011, std=0.0156, worst_day=-0.0385
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-01-24] ["Mixed Reality, Digital Dust and Other Buzzwords You\u2019ll Need to Know in 2023 V ocabularies can change fast in the worlds of business and technology. A year ago, both of those groups were borderline obsessed with wallstreetbets, the reddit community that was driving meme stocks. Today, it\u2019s rarely whispered, beyond a sad shake of the head. The evolution of people\u2019s language continues to occur at a staggering pace. And with the dawning of a new year, new buzzwords are beginning to emerge as well. Staying current on all of the new terms can be a challenge, so here\u2019s a rundown of the big ones that are popping up these days. Some you might know. Others you\u2019ll hear slipped into a conversation in the coming months. Here\u2019s a chance to get ahead of the curve. Mixed Reality: Virtual reality hasn\u2019t lit up the tech world like its advocates had hoped. Augmented reality is still in its infant stages. Now eyes are turning to mixed reality (XR), which lets you use real-world objects to interact with digital ones. Expect to hear a lot more about it when Apple (AAPL) finally unveils its VR/AR/XR headset, which is expected to happen later this year. Digital Dust: Every action you take in the online world leaves traces. Those could be text, photos, audio files or something else. That\u2019s known as digital dust. And more and more smart devices are leaving a trail of it these days, including your preferences and behaviors. Proximity bias: Work-from-home holdouts could be doing more damage to their careers than they realize. Proximity bias is the tendency for employers to give preferential treatment or show favoritism to the employees physically closest to them. It's a very real threat. A 2021 survey by the Society for Human Resource Management (SHRM) spoke with over 800 supervisors, with two-thirds who oversaw remote workers saying they believed remote workers were more replaceable than onsite workers. Overemployment: Can\u2019t pay the bills with one job? More and more people are adding a side hustle or even a second full time job to their plates (And remote working has made it easier for some people to do so). It\u2019s called overemployment. And some people have managed to be \u2018overemployed\u2019 but still just work a 40-hour week. Career cushioning: Some workers, concerned that their positions could be eliminated in the coming months, are focusing less on getting things done and more on adding skills to their resumes, which would make them more attractive to companies if they have to look for a new gig. LinkedIn says 365 million people have added skills to their profiles over the last 12 months, up 43% from last year. Polycrisis: Everything old is new again, even our problems. Polycrisis is the latest term for the convergence of those problems all at once\u2014and we\u2019re in one now. We\u2019ve got wars going on, a pandemic that\u2019s still impacting the world, economic crises and more. The World Economic Forum describ

Determine the maximum fraction of total portfolio capital that should be allocated to XLY, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0341 (i.e., a 3.41% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0341 = 2.9323, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


PALL: 60-day history, VaR(99%)=-0.0393, max drawdown threshold=10%.

Question:
Asset: PALL
Daily returns (past 60 days): mean=0.0004, std=0.0214, worst_day=-0.0421
Maximum acceptable portfolio drawdown: 10%
Market regime: bull

Determine the maximum fraction of total portfolio capital that should be allocated to PALL, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0393 (i.e., a 3.93% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0393 = 2.5459, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ETH-USD: 60-day history, VaR(99%)=-0.0583, max drawdown threshold=10%.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=-0.0020, std=0.0244, worst_day=-0.0724
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to ETH-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0583 (i.e., a 5.83% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0583 = 1.7148, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BNB-USD: 60-day history, VaR(99%)=-0.0426, max drawdown threshold=10%.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=-0.0020, std=0.0145, worst_day=-0.0575
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-10-03]

Determine the maximum fraction of total portfolio capital that should be allocated to BNB-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0426 (i.e., a 4.26% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0426 = 2.3495, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ETH-USD: 60-day history, VaR(99%)=-0.0480, max drawdown threshold=10%.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=-0.0026, std=0.0182, worst_day=-0.0669
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-08-31]

Determine the maximum fraction of total portfolio capital that should be allocated to ETH-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0480 (i.e., a 4.80% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0480 = 2.0837, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


^VIX: 60-day history, VaR(99%)=-0.0976, max drawdown threshold=10%.

Question:
Asset: ^VIX
Daily returns (past 60 days): mean=-0.0020, std=0.0588, worst_day=-0.1157
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-11-22] ["AAPL Factor-Based Stock Analysis Below is Validea's guru fundamental report for APPLE INC (AAPL). Of the 22 guru strategies we follow, AAPL rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental momentum and price momentum. APPLE INC (AAPL) is a large-cap growth stock in the Communications Equipment industry. The rating using this strategy is 94% based on the firm\u2019s underlying fundamentals and the stock\u2019s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest. The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria. FUNDAMENTAL MOMENTUM: PASS TWELVE MINUS ONE MOMENTUM: PASS FINAL RANK: PASS Detailed Analysis of APPLE INC AAPL Guru Analysis AAPL Fundamental Analysis More Information on Dashan Huang Dashan Huang Portfolio About Dashan Huang: Dashan Huang is an Assistant Professor of Finance at the Lee Kong Chian School of Business at Singapore Management University. His paper \"Twin Momentum\" looked at combining traditional price momentum with improving fundamentals to generate market outperformance. In the paper, he identified seven fundamental variables (earnings, return on equity, return on assets, accrual operating profitability to equity, cash operating profitability to assets, gross profit to assets and net payout ratio) that he combined into a single fundamental momentum measure. He showed that stocks in the top 20% of the universe according to that measure outperformed the market going forward. When he combined that measure with price momentum, he was able to double its outperformance. Additional Research Links Top NASDAQ 100 Stocks Top Technology Stocks Top Large-Cap Growth Stocks High Momentum Stocks High Insider Ownership Stocks About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.", "Actor Jamie Foxx accused of sexual abuse in New York lawsuit By Dawn Chmielewski and Steve Gorman Nov 22 (Reuters) - Oscar-winning actor Jamie Foxx was accused of sexual assault in a lawsuit filed in New York City on Wednesday that alleges he groped a woman at a rooftop bar and restaurant in Manhattan in August 2015. The plaintiff, identified in the complaint only as Jan

Determine the maximum fraction of total portfolio capital that should be allocated to ^VIX, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0976 (i.e., a 9.76% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0976 = 1.0247, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


VEA: 60-day history, VaR(99%)=-0.0161, max drawdown threshold=10%.

Question:
Asset: VEA
Daily returns (past 60 days): mean=0.0010, std=0.0069, worst_day=-0.0176
Maximum acceptable portfolio drawdown: 10%
Market regime: bull
Recent filing/news:
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blk:InvestmentsRelatedToDeferredCashCompensationPlansMember 2023-12-31 0001364742 us-gaap:CollateralizedLo [...TRUNCATED...] hat the Board of Directors authorized the repurchase of an additional seven million shares under the Company’s existing share repurchase program, for a total of up to approximately 7.9 million shares of BlackRock common stock. 64   Item 6. Exh ibits Exhibit No.   Description       4.1(1)   Indenture, dated March 14, 2024, among BlackRock Funding, Inc., BlackRock, Inc. and The Bank of New York Mellon, as trustee.       4.2(1)   First Supplemental Indenture, dated March 14, 2024, among BlackRock Funding, Inc., BlackRock, Inc. and The Bank of New York Mellon, as trustee.       4.3(1)   Form of Note for the 4.700% Notes due 2029 (included in Exhibit 4.2).       4.4(1)   Form of Note for the 5.000% Notes due 2034 (included in Exhibit 4.2).       4.5(1)   Form of Note for the 5.250% Notes due 2054 (included in Exhibit 4.2).       10.1(2)   Amendment No. 14, dated as of March 12, 2024, by and among BlackRock, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, a swingline lender, an issuing lender, L/C agent and a lender, and the banks and other financial institutions referred to therein.       22.1(3)   Subsidiary Issuer of Guaranteed Securities.       31.1   Section 302 Certification of Chief Executive Officer       31.2   Section 302 Certification of Chief Financial Officer       32.1   Section 906 Certification of Chief Executive Officer and Chief Financial Officer       101.INS   Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document       101.SCH   Inline XBRL Taxonomy Extension Schema with Embedded Linkbases Document       104   Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)         (1) Incorporated by reference to BlackRock’s Current Report on Form 8-K filed on March 14, 2024. (2) Incorporated by reference to BlackRock's Current Report on Form 8-K filed on March 15, 2024. (3) Incorporated by reference to BlackRock's Registration Statement on Form S-3 (Registration No. 333-278583) filed on April 9, 2024. 65   SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.       BLACKROCK, INC.     (Registrant)             By: /s/ Martin S. Small Date: May 7, 2024        Martin S. Small          Senior Managing Director & Chief Financial Officer    (Principal Financial Officer)   66

Determine the maximum fraction of total portfolio capital that should be allocated to VEA, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0161 (i.e., a 1.61% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0161 = 6.2010, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SCHH: 60-day history, VaR(99%)=-0.0228, max drawdown threshold=10%.

Question:
Asset: SCHH
Daily returns (past 60 days): mean=0.0006, std=0.0108, worst_day=-0.0250
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to SCHH, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0228 (i.e., a 2.28% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0228 = 4.3800, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


VNQ: 60-day history, VaR(99%)=-0.0224, max drawdown threshold=10%.

Question:
Asset: VNQ
Daily returns (past 60 days): mean=0.0023, std=0.0136, worst_day=-0.0237
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to VNQ, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0224 (i.e., a 2.24% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0224 = 4.4651, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLI: 60-day history, VaR(99%)=-0.0155, max drawdown threshold=10%.

Question:
Asset: XLI
Daily returns (past 60 days): mean=0.0017, std=0.0079, worst_day=-0.0163
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2024-01-09] ["Is iShares Semiconductor ETF (SOXX) a Strong ETF Right Now? The iShares Semiconductor ETF (SOXX) was launched on 07/10/2001, and is a smart beta exchange traded fund designed to offer broad exposure to the Technology ETFs category of the market. What Are Smart Beta ETFs? The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment. Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency. However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta. Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance. The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns. Fund Sponsor & Index The fund is managed by Blackrock, and has been able to amass over $9.93 billion, which makes it one of the largest ETFs in the Technology ETFs. SOXX, before fees and expenses, seeks to match the performance of the PHLX SOX Semiconductor Sector Index. The ICE Semiconductor Index measures the performance of U.S. traded securities of companies engaged in the semiconductor business. Cost & Other Expenses Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same. Operating expenses on an annual basis are 0.35% for SOXX, making it one of the least expensive products in the space. It's 12-month trailing dividend yield comes in at 0.81%. Sector Exposure and Top Holdings Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis. Representing 100% of the portfolio, the fund has heaviest allocation to the Information Technology sector. Taking into account individual holdings, Advanced Micro Devices Inc (AMD) accounts for about 9.48% of the fund's total assets, followed by Broadcom Inc (AVGO) and Intel Corporation Corp (INTC). SOXX's top 10 holdings account for about 59.63% of its total assets under management. Performance and Risk So far this year, SOXX has lost about -2.88%, and was up about 55.09% in the last one year (as of 01/09/2024). During this past 52-week period, the fund has traded between $373.83 and $581.45. The ETF has a beta of 1.37 and standard deviation of 34.63% for the trailin

Determine the maximum fraction of total portfolio capital that should be allocated to XLI, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0155 (i.e., a 1.55% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0155 = 6.4399, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


LINK-USD: 60-day history, VaR(99%)=-0.1264, max drawdown threshold=10%.

Question:
Asset: LINK-USD
Daily returns (past 60 days): mean=0.0005, std=0.0425, worst_day=-0.1363
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to LINK-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.7911

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1264 (i.e., a 12.64% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1264 = 0.7911, capped at 1.0.
Maximum position size = 0.7911 (79.1% of portfolio).


ADA-USD: 60-day history, VaR(99%)=-0.0754, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=-0.0001, std=0.0385, worst_day=-0.0799
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-03-26]

Determine the maximum fraction of total portfolio capital that should be allocated to ADA-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0754 (i.e., a 7.54% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0754 = 1.3260, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


GLD: 60-day history, VaR(99%)=-0.0126, max drawdown threshold=10%.

Question:
Asset: GLD
Daily returns (past 60 days): mean=0.0001, std=0.0058, worst_day=-0.0157
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to GLD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0126 (i.e., a 1.26% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0126 = 7.9636, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.0845, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=-0.0003, std=0.0332, worst_day=-0.0936
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-01-11]

Determine the maximum fraction of total portfolio capital that should be allocated to MATIC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0845 (i.e., a 8.45% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0845 = 1.1831, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLB: 60-day history, VaR(99%)=-0.0181, max drawdown threshold=10%.

Question:
Asset: XLB
Daily returns (past 60 days): mean=-0.0001, std=0.0076, worst_day=-0.0183
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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2023-03-31 0001364742 us-gaap:EquitySecuritiesMember blk:ConsolidatedVotingRightsEntitiesMember 2024-03-31 0001364742 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2024-03-31 0001364742 us-gaap:EquitySecuritiesMember us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2024-03-31 0001364742 us-gaap:ForeignExchangeForwardMember 2023-12-31 0001364742 blk:OnePointNineZeroPercentNotesDueTwoThousandThirtyOneMember 2024-03-31 0001364742 blk:EquityFixedIncomeAndMultiAssetMutualFundsMember us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001364742 2022-10-01 2022-12-31 0001364742 us-gaap:FairValueMeasurementsRecurringMember us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember 2024-03-31 0001364742 blk:AlternativeInvestmentsProductsMember us-gaap:InvestmentPerformanceMember 2024-01-01 2024-03-31 0001364742 srt:AmericasMember 2023-12-31 0001364742 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember blk:InvestmentsRelatedToDeferredCashCompensationPlansMember 2023-12-31 0001364742 us-gaap:CollateralizedLo [...TRUNCATED...] hat the Board of Directors authorized the repurchase of an additional seven million shares under the Company’s existing share repurchase program, for a total of up to approximately 7.9 million shares of BlackRock common stock. 64   Item 6. Exh ibits Exhibit No.   Description       4.1(1)   Indenture, dated March 14, 2024, among BlackRock Funding, Inc., BlackRock, Inc. and The Bank of New York Mellon, as trustee.       4.2(1)   First Supplemental Indenture, dated March 14, 2024, among BlackRock Funding, Inc., BlackRock, Inc. and The Bank of New York Mellon, as trustee.       4.3(1)   Form of Note for the 4.700% Notes due 2029 (included in Exhibit 4.2).       4.4(1)   Form of Note for the 5.000% Notes due 2034 (included in Exhibit 4.2).       4.5(1)   Form of Note for the 5.250% Notes due 2054 (included in Exhibit 4.2).       10.1(2)   Amendment No. 14, dated as of March 12, 2024, by and among BlackRock, Inc., certain of its subsidiaries, Wells Fargo Bank, National Association, as administrative agent, a swingline lender, an issuing lender, L/C agent and a lender, and the banks and other financial institutions referred to therein.       22.1(3)   Subsidiary Issuer of Guaranteed Securities.       31.1   Section 302 Certification of Chief Executive Officer       31.2   Section 302 Certification of Chief Financial Officer       32.1   Section 906 Certification of Chief Executive Officer and Chief Financial Officer       101.INS   Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document       101.SCH   Inline XBRL Taxonomy Extension Schema with Embedded Linkbases Document       104   Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)         (1) Incorporated by reference to BlackRock’s Current Report on Form 8-K filed on March 14, 2024. (2) Incorporated by reference to BlackRock's Current Report on Form 8-K filed on March 15, 2024. (3) Incorporated by reference to BlackRock's Registration Statement on Form S-3 (Registration No. 333-278583) filed on April 9, 2024. 65   SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.       BLACKROCK, INC.     (Registrant)             By: /s/ Martin S. Small Date: May 7, 2024        Martin S. Small          Senior Managing Director & Chief Financial Officer    (Principal Financial Officer)   66

Determine the maximum fraction of total portfolio capital that should be allocated to XLB, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0181 (i.e., a 1.81% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0181 = 5.5396, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


EWJ: 60-day history, VaR(99%)=-0.0325, max drawdown threshold=10%.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=0.0010, std=0.0135, worst_day=-0.0325
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[SEC 10-Q WMT 2024-08-30] wmt-20240731 0000104169 1/31 2025 Q2 false xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:JPY wmt:state wmt:county wmt:defendant wmt:case wmt:classAction wmt:securitiesClassAction wmt:shareholder wmt:order wmt:pharmacist wmt:segment 0000104169 2024-02-01 2024-07-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2024-02-01 2024-07-31 0000104169 wmt:A2.550NotesDue2026Member 2024-02-01 2024-07-31 0000104169 wmt:A1050NotesDue2026Member 2024-02-01 2024-07-31 0000104169 wmt:A1500NotesDue2028Member 2024-02-01 2024-07-31 0000104169 wmt:A4875NotesDue2029Member 2024-02-01 2024-07-31 0000104169 wmt:A5750NotesDue2030Member 2024-02-01 2024-07-31 0000104169 wmt:A1800NotesDue2031Member 2024-02-01 2024-07-31 0000104169 wmt:A5625NotesDue2034Member 2024-02-01 2024-07-31 0000104169 wmt:A5250NotesDue2035Member 2024-02-01 2024-07-31 0000104169 wmt:A4875NotesDue2039Member 2024-02-01 2024-07-31 0000104169 2024-08-28 0000104169 2024-05-01 2024-07-31 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srt:MinimumMember 2024-07-31 0000104169 srt:MaximumMember 2024-07-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-01-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-04-30 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-04-30 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-05-01 2024-07-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-05-01 2024-07-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2024-07-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-07-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2023-01-31 0000104169 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2023-01-31 0000104169 us-gaap:AccumulatedTranslationAdjustmentMember 2023-02-01 2023-04-30 0000104169 us [...TRUNCATED...] acts, assumptions not being realized or other factors, the actual results relating to the subject matter of any forward-looking statement in this Quarterly Report on Form 10-Q may differ materially from the anticipated results expressed or implied in that forward-looking statement. The forward-looking statements included in this Quarterly Report on Form 10-Q are made only as of the date of this report, and Walmart undertakes no obligation to update any such statements to reflect subsequent events or circumstances. 34 Table of Contents Item 6. Exhibits The following documents are filed as an exhibit to this Quarterly Report on Form 10-Q: Exhibit 3.1(a) Restated Certificate of Incorporation of the Company dated February 1, 2018 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 1, 2018 Exhibit 3.1(b) Certificate of Amendment to the Restated Certificate of Incorporation of the Company, effective February 23, 2024 is incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on February 23, 2024 Exhibit 3.2 Amended and Restated Bylaws of the Company dated November 10, 2022 are incorporated herein by reference to Exhibit 3.1 to the Report on Form 8-K filed by the Company on November 16, 2022 Exhibit 31.1* Chief Executive Officer Section 302 Certification Exhibit 31.2* Chief Financial Officer Section 302 Certification Exhibit 32.1** Chief Executive Officer Section 906 Certification Exhibit 32.2** Chief Financial Officer Section 906 Certification Exhibit 99.1* Opioids-Related Litigation Case Citations and Currently Scheduled Trial Dates Exhibit 101.INS* Inline XBRL Instance Document Exhibit 101.SCH* Inline XBRL Taxonomy Extension Schema Document Exhibit 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document Exhibit 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document Exhibit 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document Exhibit 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document Exhibit 104 The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 35 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.   WALMART INC. Date: August 30, 2024 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: August 30, 2024 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: August 30, 2024 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 36

Determine the maximum fraction of total portfolio capital that should be allocated to EWJ, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0325 (i.e., a 3.25% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0325 = 3.0761, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ADA-USD: 60-day history, VaR(99%)=-0.0694, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0159, std=0.0596, worst_day=-0.0757
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to ADA-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0694 (i.e., a 6.94% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0694 = 1.4416, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.0772, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=0.0066, std=0.0533, worst_day=-0.0971
Maximum acceptable portfolio drawdown: 10%
Market regime: bull
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to MATIC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0772 (i.e., a 7.72% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0772 = 1.2954, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


AVAX-USD: 60-day history, VaR(99%)=-0.1462, max drawdown threshold=10%.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0067, std=0.0509, worst_day=-0.1912
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-01-02]

Determine the maximum fraction of total portfolio capital that should be allocated to AVAX-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 0.6840

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1462 (i.e., a 14.62% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1462 = 0.6840, capped at 1.0.
Maximum position size = 0.6840 (68.4% of portfolio).


VCIT: 60-day history, VaR(99%)=-0.0100, max drawdown threshold=10%.

Question:
Asset: VCIT
Daily returns (past 60 days): mean=0.0001, std=0.0047, worst_day=-0.0100
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to VCIT, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0100 (i.e., a 1.00% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0100 = 10.0404, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SOL-USD: 60-day history, VaR(99%)=-0.0770, max drawdown threshold=10%.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=0.0051, std=0.0407, worst_day=-0.0817
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to SOL-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0770 (i.e., a 7.70% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0770 = 1.2986, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BTC-USD: 60-day history, VaR(99%)=-0.0600, max drawdown threshold=10%.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0032, std=0.0234, worst_day=-0.0758
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Determine the maximum fraction of total portfolio capital that should be allocated to BTC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0600 (i.e., a 6.00% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0600 = 1.6658, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.0519, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=0.0094, std=0.0337, worst_day=-0.0560
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-11-13]

Determine the maximum fraction of total portfolio capital that should be allocated to MATIC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0519 (i.e., a 5.19% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0519 = 1.9259, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


EWJ: 60-day history, VaR(99%)=-0.0165, max drawdown threshold=10%.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=-0.0009, std=0.0091, worst_day=-0.0176
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-10-31] ["The Zacks Analyst Blog Highlights Apple, McKesson, Emerson Electric and Bae Systems For Immediate Release Chicago, IL \u2013 October 31, 2023 \u2013 Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple AAPL, McKesson MCK, Emerson Electric EMR and Bae Systems BAESY. Here are highlights from Monday\u2019s Analyst Blog: Apple, Bitcoin and the FOMC: Global Week Ahead Across the Global Week Ahead, central bankers keep stock traders on alert: \u00b7 The Bank of Japan (BoJ) reports Tuesday \u00b7 The U.S. Federal Reserve reports Wednesday, and \u00b7 The Bank of England (BoE) reports Thursday Out AMC on Thursday, Apple tops the bill for earnings, on both sides of the Atlantic. On Friday at 8:30 am ET, we get the OCT U.S. nonfarm jobs report. Next are Reuters' five world market themes, reordered for equity traders\u2014 (1) This week will be a core S&P500 earnings season week. Apple headlines another busy week of U.S. corporate earnings, with the iPhone maker reporting AMC on Thursday. Shares of Apple, the world's largest company by market value, have helped drive equity indexes higher this year, along with shares of other mega-cap U.S. tech and growth companies. But the stock has pulled back sharply since late July, when the S&P500 hit its high for 2023. Results already in from mega-caps have prompted a mixed reaction, with shares of Alphabet and Tesla slumping after their respective reports. Consumers' spending habits will also be on display. Other companies set to report include: \u00b7 Caterpillar and Pfizer on Tuesday \u00b7 Mondelez on Wednesday, and \u00b7 Starbucks and Eli Lilly on Thursday (2) Bitcoin prices are rising, rising... and then? Bitcoin has had a stellar ride recently, with traders getting excited about the possibility that the U.S. Securities and Exchange Commission (SEC) could approve an application for a spot bitcoin ETF. Earlier this month, bitcoin jumped sharply on a false report that BlackRock's ETF application had been approved. Last week, a listing of BlackRock's planned ETF on a clearing house website sent speculators into a frenzy \u2014 even after the clearing house said this was just standard practice for pending applications rather than a sign of any regulatory approval. Still, the cryptocurrency is trading at around half the $69,000 peak it reached in November 2021. Meanwhile, the fraud trial of Sam Bankman-Fried, whose crypto firm FTX collapsed a year ago, is captivating crypto watchers around the globe. (3) On Wednesday, a two-day U.S. Federal Reserve meeting breaks up. A bruised U.S. stock market will turn its attention to the Fed monetary policy meeting on Wednesday, with investors eager to hear policymakers' views on the state of the economy and the outlook for interest rates. Futures tied to the main policy rate show most tr

Determine the maximum fraction of total portfolio capital that should be allocated to EWJ, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0165 (i.e., a 1.65% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0165 = 6.0494, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ACWI: 60-day history, VaR(99%)=-0.0133, max drawdown threshold=10%.

Question:
Asset: ACWI
Daily returns (past 60 days): mean=0.0019, std=0.0072, worst_day=-0.0140
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2024-01-09] ["Is iShares Semiconductor ETF (SOXX) a Strong ETF Right Now? The iShares Semiconductor ETF (SOXX) was launched on 07/10/2001, and is a smart beta exchange traded fund designed to offer broad exposure to the Technology ETFs category of the market. What Are Smart Beta ETFs? The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment. Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency. However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta. Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance. The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns. Fund Sponsor & Index The fund is managed by Blackrock, and has been able to amass over $9.93 billion, which makes it one of the largest ETFs in the Technology ETFs. SOXX, before fees and expenses, seeks to match the performance of the PHLX SOX Semiconductor Sector Index. The ICE Semiconductor Index measures the performance of U.S. traded securities of companies engaged in the semiconductor business. Cost & Other Expenses Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same. Operating expenses on an annual basis are 0.35% for SOXX, making it one of the least expensive products in the space. It's 12-month trailing dividend yield comes in at 0.81%. Sector Exposure and Top Holdings Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis. Representing 100% of the portfolio, the fund has heaviest allocation to the Information Technology sector. Taking into account individual holdings, Advanced Micro Devices Inc (AMD) accounts for about 9.48% of the fund's total assets, followed by Broadcom Inc (AVGO) and Intel Corporation Corp (INTC). SOXX's top 10 holdings account for about 59.63% of its total assets under management. Performance and Risk So far this year, SOXX has lost about -2.88%, and was up about 55.09% in the last one year (as of 01/09/2024). During this past 52-week period, the fund has traded between $373.83 and $581.45. The ETF has a beta of 1.37 and standard deviation of 34.63% for the trailin

Determine the maximum fraction of total portfolio capital that should be allocated to ACWI, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0133 (i.e., a 1.33% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0133 = 7.5103, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XHB: 60-day history, VaR(99%)=-0.0340, max drawdown threshold=10%.

Question:
Asset: XHB
Daily returns (past 60 days): mean=0.0009, std=0.0132, worst_day=-0.0371
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to XHB, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0340 (i.e., a 3.40% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0340 = 2.9433, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.0803, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=0.0047, std=0.0462, worst_day=-0.0851
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-03-19]

Determine the maximum fraction of total portfolio capital that should be allocated to MATIC-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0803 (i.e., a 8.03% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0803 = 1.2456, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XRP-USD: 60-day history, VaR(99%)=-0.0936, max drawdown threshold=10%.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=-0.0003, std=0.0515, worst_day=-0.1180
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-08-08]

Determine the maximum fraction of total portfolio capital that should be allocated to XRP-USD, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0936 (i.e., a 9.36% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0936 = 1.0683, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


FXI: 60-day history, VaR(99%)=-0.0324, max drawdown threshold=10%.

Question:
Asset: FXI
Daily returns (past 60 days): mean=-0.0021, std=0.0188, worst_day=-0.0334
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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amzn:VendorAccountsReceivableMember 2023-12-31 0001018724 us-gaap:LoansReceivableMember 2022-12-31 0001018724 us-gaap:LoansReceivableMember 2023-12-31 00 [...TRUNCATED...] tents 32.2 Certification of Brian T. Olsavsky, Senior Vice President and Chief Financial Officer of Amazon.com, Inc., pursuant to 18 U.S.C. Section 1350. 97.1 Amazon.com, Inc. Clawback Policy. 101 The following financial statements from the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, formatted in Inline XBRL: (i) Consolidated Statements of Cash Flows, (ii) Consolidated Statements of Operations, (iii) Consolidated Statements of Comprehensive Income (Loss), (iv) Consolidated Balance Sheets, (v) Consolidated Statements of Stockholders’ Equity, and (vi) Notes to Consolidated Financial Statements, tagged as blocks of text and including detailed tags. As permitted by Item 601(b)(4)(iii)(A) of Regulation S-K, the Company has not filed with this Annual Report on Form 10-K certain instruments defining the rights of holders of long-term debt of the Company and its subsidiaries because the total amount of securities authorized thereunder does not exceed 10 percent of the total assets of the Company and its subsidiaries on a consolidated basis. The Company agrees to furnish a copy of such agreements to the Commission upon request. 104 The cover page from the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, formatted in Inline XBRL (included as Exhibit 101). __________________ †    Executive Compensation Plan or Agreement. Item 16. Form 10-K Summary None. 77 Table of Contents SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized, as of February 1, 2024.   AMAZON.COM, INC. By: /s/ Andrew R. Jassy Andrew R. Jassy President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the registrant and in the capacities indicated as of February 1, 2024.   Signature Title /s/ Andrew R. Jassy Andrew R. Jassy President and Chief Executive Officer (Principal Executive Officer) and Director /s/ Brian T. Olsavsky Brian T. Olsavsky Senior Vice President and Chief Financial Officer (Principal Financial Officer) /s/ Shelley L. Reynolds Shelley L. Reynolds Vice President, Worldwide Controller (Principal Accounting Officer) /s/ Jeffrey P. Bezos Jeffrey P. Bezos Executive Chair /s/ Keith B. Alexander Keith B. Alexander Director /s/ Edith W. Cooper Edith W. Cooper Director /s/ Jamie S. Gorelick Jamie S. Gorelick Director /s/ Daniel P. Huttenlocher Daniel P. Huttenlocher Director /s/ Judith A. McGrath Judith A. McGrath Director /s/ Indra K. Nooyi Indra K. Nooyi Director /s/ Jonathan J. Rubinstein Jonathan J. Rubinstein Director /s/ Brad D. Smith Brad D. Smith Director /s/ Patricia Q. Stonesifer Patricia Q. Stonesifer Director /s/ Wendell P. Weeks Wendell P. Weeks Director 78

Determine the maximum fraction of total portfolio capital that should be allocated to FXI, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0324 (i.e., a 3.24% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0324 = 3.0837, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IVV: 60-day history, VaR(99%)=-0.0201, max drawdown threshold=10%.

Question:
Asset: IVV
Daily returns (past 60 days): mean=0.0011, std=0.0079, worst_day=-0.0205
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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nvda:PubliclyHeldEquitySecuritiesMember 2024-01-28 0001045810 us-gaap:FairValueInputsLevel2Member us-gaap:USTreasur [...TRUNCATED...]  30, 2024 , Ajay K. Puri , Executive Vice President , Worldwide Field Operations, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 204,890 shares of our common stock through December 30, 2025 . 40 Item 6. Exhibits Exhibit No.  Exhibit Description 10.1+* Amended and Restated 2007 Equity Incentive Plan – Global Restricted Stock Unit Grant Notice and Global Restricted Stock Unit Agreement (2024) 31.1* Certification of Chief Executive Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 31.2* Certification of Chief Financial Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 32.1#* Certification of Chief Executive Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 32.2#* Certification of Chief Financial Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 101.INS* Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101.SCH* Inline XBRL Taxonomy Extension Schema Document 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB* Inline XBRL Taxonomy Extension Labels Linkbase Document 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. + Management contract or compensatory plan or arrangement. * Filed herewith. # In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release Nos. 33-8238 and 34-47986, Final Rule: Management's Reports on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports, the certifications furnished in Exhibits 32.1 and 32.2 hereto are deemed to accompany this Quarterly Report on Form 10-Q and will not be deemed “filed” for purpose of Section 18 of the Exchange Act. Such certifications will not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Copies of above exhibits not contained herein are available to any shareholder upon written request to: Investor Relations: NVIDIA Corporation, 2788 San Tomas Expressway, Santa Clara, CA 95051. 41 Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: November 20, 2024   NVIDIA Corporation  By:    /s/ Colette M. Kress   Colette M. Kress   Executive Vice President and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer) 42

Determine the maximum fraction of total portfolio capital that should be allocated to IVV, given the drawdown constraint. Report as a decimal between 0.00 and 1.00 (e.g., 0.25 = 25%; maximum is 1.00 = 100% of portfolio).

Answer: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0201 (i.e., a 2.01% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0201 = 4.9786, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).