ADA-USD: 60-day history, VaR(99%)=-0.1152, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0176, std=0.0666, worst_day=-0.1578
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: 0.8680

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1152 (i.e., a 11.52% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1152 = 0.8680, capped at 1.0.
Maximum position size = 0.8680 (86.8% of portfolio).


XLU: 60-day history, VaR(99%)=-0.0217, max drawdown threshold=10%.

Question:
Asset: XLU
Daily returns (past 60 days): mean=0.0006, std=0.0107, worst_day=-0.0235
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 XLU, 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 = 0.0217 (i.e., a 2.17% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0217 = 4.5987, 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=-0.0028, std=0.0242, 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).


ICSH: 60-day history, VaR(99%)=-0.0007, max drawdown threshold=10%.

Question:
Asset: ICSH
Daily returns (past 60 days): mean=0.0001, std=0.0004, worst_day=-0.0008
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to ICSH, 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 = 0.0007 (i.e., a 0.07% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0007 = 147.2769, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SPY: 60-day history, VaR(99%)=-0.0147, max drawdown threshold=10%.

Question:
Asset: SPY
Daily returns (past 60 days): mean=0.0009, std=0.0068, worst_day=-0.0160
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 SPY, 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 = 0.0147 (i.e., a 1.47% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0147 = 6.7808, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


QUAL: 60-day history, VaR(99%)=-0.0162, max drawdown threshold=10%.

Question:
Asset: QUAL
Daily returns (past 60 days): mean=0.0018, std=0.0080, worst_day=-0.0166
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19] ["Here's Why I Just Sold These 2 Blue-Chip Stocks, Even Though They're Great Businesses One of our contributors recently sold several positions, including two absolutely incredible businesses.", "JPMorgan Among Winners as Latin American Wealth Flocks to Miami (Bloomberg) -- Latin America\u2019s wealthiest investors are taking their fortunes to Miami at one of the fastest clips in history, with some fleeing regional turmoil and others lured by yields higher than they can find at home.Most Read from BloombergApple Races to Tweak Software Ahead of Looming US Watch BanApple to Halt US Sales of Smartwatches After Patent LossGulf Splits Hinder US Efforts to End Houthi Ship AttacksUS Announces New Task Force to Counter Houthi Red Sea ThreatUS Frackers Return to", "Demise of Small Caps Haunts Wall Street in the Age of Big Tech (Bloomberg) -- Declaring the demise of an asset class is a mistake people have made since the dawn of markets. It\u2019s a temptation many on Wall Street succumbed to recently when small-cap stocks notched two-decade lows versus the S&P 500 \u2013 only to rally sharply after the Federal Reserve\u2019s dovish policy surprise last week.Most Read from BloombergApple Races to Tweak Software Ahead of Looming US Watch BanApple to Halt US Sales of Smartwatches After Patent LossGulf Splits Hinder US Efforts to End Hou", "Brazil Central Bank Reinforces Cautious View on Fight to Bring Inflation Back to Target (Bloomberg) -- Brazil\u2019s central bank reinforced there\u2019s still a long way to go to bring inflation back to target, warning that the El Nino weather pattern may have a bigger impact on food prices than initially thought. Most Read from BloombergApple Races to Tweak Software Ahead of Looming US Watch BanApple to Halt US Sales of Smartwatches After Patent LossGulf Splits Hinder US Efforts to End Houthi Ship AttacksUS Announces New Task Force to Counter Houthi Red Sea ThreatUS Frackers Return to Haun", "Will Taiwan Semiconductor Be a Trillion-Dollar Stock by 2030? Taiwan Semiconductor has a vital product for many of the most important tech companies.", "UBS Investor Cevian to Be an \u2018Engaged Owner\u2019 Over Long Term (Bloomberg) -- Activist investor Cevian Capital AB, which picked up a $1.3 billion stake in UBS Group AG, said it\u2019s planning to hold the shares for the long term, betting the Swiss bank\u2019s current strategy would help create the world\u2019s biggest global wealth manager. Most Read from BloombergApple Races to Tweak Software Ahead of Looming US Watch BanApple to Halt US Sales of Smartwatches After Patent LossGulf Splits Hinder US Efforts to End Houthi Ship AttacksWhat If Putin Wins? US Allies Fear Defe", "Canadian Dollar Surges to Highest Since August as Inflation Stays Elevated (Bloomberg) -- The rate of inflation in Canada unexpectedly remained stuck at 3.1% last month, giving the central bank another reason to keep its policy rate at the highest level in two decades.Most Read from BloombergApple Races t

Determine the maximum fraction of total portfolio capital that should be allocated to QUAL, 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 = 0.0162 (i.e., a 1.62% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0162 = 6.1676, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MTUM: 60-day history, VaR(99%)=-0.0269, max drawdown threshold=10%.

Question:
Asset: MTUM
Daily returns (past 60 days): mean=0.0008, std=0.0098, worst_day=-0.0352
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-08-01 2023-10-31 0000104169 us-gaap:Com [...TRUNCATED...] 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. 35 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 October 31, 2024, formatted in Inline XBRL (included in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. 36 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: December 6, 2024 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: December 6, 2024 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: December 6, 2024 By: /s/ David M. Chojnowski David M. Chojnowski Senior Vice President and Controller (Principal Accounting Officer) 37

Determine the maximum fraction of total portfolio capital that should be allocated to MTUM, 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 = 0.0269 (i.e., a 2.69% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0269 = 3.7125, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ITB: 60-day history, VaR(99%)=-0.0459, max drawdown threshold=10%.

Question:
Asset: ITB
Daily returns (past 60 days): mean=0.0001, std=0.0176, worst_day=-0.0460
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to ITB, 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 = 0.0459 (i.e., a 4.59% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0459 = 2.1793, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLI: 60-day history, VaR(99%)=-0.0223, max drawdown threshold=10%.

Question:
Asset: XLI
Daily returns (past 60 days): mean=0.0013, std=0.0112, worst_day=-0.0245
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-02-02] ["Apple (AAPL) Misses Q1 Earnings and Revenue Estimates Apple (AAPL) came out with quarterly earnings of $1.88 per share, missing the Zacks Consensus Estimate of $1.93 per share. This compares to earnings of $2.10 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.59%. A quarter ago, it was expected that this maker of iPhones, iPads and other products would post earnings of $1.26 per share when it actually produced earnings of $1.29, delivering a surprise of 2.38%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Apple, which belongs to the Zacks Computer - Mini computers industry, posted revenues of $117.15 billion for the quarter ended December 2022, missing the Zacks Consensus Estimate by 3.34%. This compares to year-ago revenues of $123.95 billion. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Apple shares have added about 11.9% since the beginning of the year versus the S&P 500's gain of 7.3%. What's Next for Apple? While Apple has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Apple: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.50 on $98 billion in revenues for the coming quarter and $6.15 on $402.73 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computer - Mini computers is currently i

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 = 0.0223 (i.e., a 2.23% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0223 = 4.4861, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SPY: 60-day history, VaR(99%)=-0.0157, max drawdown threshold=10%.

Question:
Asset: SPY
Daily returns (past 60 days): mean=0.0015, std=0.0065, worst_day=-0.0198
Maximum acceptable portfolio drawdown: 10%
Market regime: bull
Recent filing/news:
[SEC 10-Q NVDA 2024-11-20] nvda-20241027 0001045810 1/26 2025 Q3 FALSE http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent 0 550 456 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure nvda:segment 0001045810 2024-01-29 2024-10-27 0001045810 2024-11-15 0001045810 2024-07-29 2024-10-27 0001045810 2023-07-31 2023-10-29 0001045810 2023-01-30 2023-10-29 0001045810 2024-10-27 0001045810 2024-01-28 0001045810 us-gaap:CommonStockMember 2024-07-28 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-07-28 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-28 0001045810 us-gaap:RetainedEarningsMember 2024-07-28 0001045810 2024-07-28 0001045810 us-gaap:RetainedEarningsMember 2024-07-29 2024-10-27 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-29 2024-10-27 0001045810 us-gaap:CommonStockMember 2024-07-29 2024-10-27 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-07-29 2024-10-27 0001045810 us-gaap:CommonStockMember 2024-10-27 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-10-27 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-10-27 0001045810 us-gaap:RetainedEarningsMember 2024-10-27 0001045810 us-gaap:CommonStockMember 2023-07-30 0001045810 us-gaap:AdditionalPaidInCapitalMember 2023-07-30 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-30 0001045810 us-gaap:RetainedEarningsMember 2023-07-30 0001045810 2023-07-30 0001045810 us-gaap:RetainedEarningsMember 2023-07-31 2023-10-29 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-31 2023-10-29 0001045810 us-gaap:CommonStockMember 2023-07-31 2023-10-29 0001045810 us-gaap:AdditionalPaidInCapitalMember 2023-07-31 2023-10-29 0001045810 us-gaap:CommonStockMember 2023-10-29 0001045810 us-gaap:AdditionalPaidInCapitalMember 2023-10-29 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-10-29 0001045810 us-gaap:RetainedEarningsMember 2023-10-29 0001045810 2023-10-29 0001045810 us-gaap:CommonStockMember 2024-01-28 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-01-28 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-28 0001045810 us-gaap:RetainedEarningsMember 2024-01-28 0001045810 us-gaap:RetainedEarningsMember 2024-01-29 2024-10-27 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-29 2024-10-27 0001045810 us-gaap:CommonStockMember 2024-01-29 2024-10-27 0001045810 us-gaap:AdditionalPaidInCapitalMember 2024-01-29 2024-10-27 0001045810 us-gaap:CommonStockMember 2023-01-29 0001045810 us-gaap:AdditionalPaidInCapitalMember 2023-01-29 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-29 0001045810 us-gaap:RetainedEarningsMember 2023-01-29 0001045810 2023-01-29 0001045810 us-gaap:RetainedEarningsMember 2023-01-30 2023-10-29 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-30 2023-10-29 0001045810 us-gaap:CommonStockMember 2023-01-30 2023-10-29 0001045810 us-gaap:AdditionalPaidInCapitalMember 2023-01-30 2023-10-29 0001045810 2024-05-01 2024-05-31 0001045810 2024-06-06 0001045810 2024-06-07 0001045810 us-gaap:OperatingLeaseLeaseNotYetCommencedMember 2024-10-27 0001045810 srt:MinimumMember 2024-10-27 0001045810 srt:MaximumMember 2024-10-27 0001045810 us-gaap:CostOfSalesMember 2024-07-29 2024-10-27 0001045810 us-gaap:CostOfSalesMember 2023-07-31 2023-10-29 0001045810 us-gaap:CostOfSalesMember 2024-01-29 2024-10-27 0001045810 us-gaap:CostOfSalesMember 2023-01-30 2023-10-29 0001045810 us-gaap:ResearchAndDevelopmentExpenseMember 2024-07-29 2024-10-27 0001045810 us-gaap:ResearchAndDevelopmentExpenseMember 2023-07-31 2023-10-29 0001045810 us-gaap:ResearchAndDevelopmentExpenseMember 2024-01-29 2024-10-27 0001045810 us-gaap:ResearchAndDevelopmentExpenseMember 2023-01-30 2023-10-29 0001045810 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-07-29 2024-10-27 0001045810 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2023-07-31 2023-10-29 0001045810 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2024-01-29 2024-10-27 0001045810 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2023-01-30 2023-10-29 0001045810 nvda:RSUsPSUsandMarketbasedPSUsMember 2024-01-28 0001045810 nvda:RSUsPSUsandMarketbasedPSUsMember 2024-01-29 2024-10-27 0001045810 nvda:RSUsPSUsandMarketbasedPSUsMember 2024-10-27 0001045810 us-gaap:EmployeeStockMember 2024-01-29 2024-10-27 0001045810 us-gaap:USTreasurySecuritiesMember 2024-10-27 0001045810 us-gaap:CorporateDebtSecuritiesMember 2024-10-27 0001045810 us-gaap:MoneyMarketFundsMember 2024-10-27 0001045810 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2024-10-27 0001045810 us-gaap:CertificatesOfDepositMember 2024-10-27 0001045810 nvda:MarketableSecuritiesWithFairValueAdjustmentsRecordedInOtherComprehensiveIncomeMember 2024-10-27 0001045810 nvda:PubliclyHeldEquitySecuritiesMember 2024-10-27 0001045810 us-gaap:FairValueInputsLevel1Member nvda:PubliclyHeldEquitySecuritiesMember 2024-01-29 2024-10-27 0001045810 us-gaap:FairValueInputsLevel1Member nvda:PubliclyHeldEquitySecuritiesMember 2024-07-29 2024-10-27 0001045810 us-gaap:CorporateDebtSecuritiesMember 2024-01-28 0001045810 us-gaap:USTreasurySecuritiesMember 2024-01-28 0001045810 us-gaap:MoneyMarketFundsMember 2024-01-28 0001045810 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2024-01-28 0001045810 us-gaap:CertificatesOfDepositMember 2024-01-28 0001045810 us-gaap:ForeignGovernmentDebtMember 2024-01-28 0001045810 nvda:MarketableSecuritiesWithFairValueAdjustmentsRecordedInOtherComprehensiveIncomeMember 2024-01-28 0001045810 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember 2024-10-27 0001045810 us-gaap:FairValueInputsLevel1Member us-gaap:MoneyMarketFundsMember 2024-01-28 0001045810 us-gaap:FairValueInputsLevel1Member nvda:PubliclyHeldEquitySecuritiesMember 2024-10-27 0001045810 us-gaap:FairValueInputsLevel1Member 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 SPY, 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 = 0.0157 (i.e., a 1.57% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0157 = 6.3601, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLP: 60-day history, VaR(99%)=-0.0130, max drawdown threshold=10%.

Question:
Asset: XLP
Daily returns (past 60 days): mean=-0.0001, std=0.0058, worst_day=-0.0153
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-06-28] ["ANALYSIS-India's aerospace suppliers see upside in parts-making from record jet orders By Allison Lampert and Aditi Shah PARIS/DELHI, June 28 (Reuters) - Indian aerospace suppliers see record jet orders by the country's top two carriers boosting domestic parts manufacturing and aircraft repairs, but argue the government must do more to support production. Rising traffic, a search for alternative sourcing to China and orders this month from Air India and IndiGo for nearly 1,000 jets combined have made India a key market for aerospace. Now, small and medium suppliers want to capitalize on that to drive more sales of locally sourced parts, they told Reuters on the sidelines of the Paris Airshow last week. \"Today we are going to be the largest purchaser of planes in the world,\" said Shekhar Sardessai, managing director at Kineco Group, a supplier in the western state of Goa, referring to India. \"We deserve a piece of that pie,\" added Sardessai, whose company makes engine and plane interior parts. While French engine maker Safran SAF.PA has plans for an engine repair and overhaul facility in India, about 90% of the country's aircraft maintenance and repair activity occurs outside its borders, according to consultancy Deloitte. The Indian repair and overhaul industry is expected to grow to $4 billion by 2031, up from $1.7 billion in 2021, Deloitte said. India's civil aviation ministry expects the orders to boost aerospace manufacturing in the country, but it cannot mandate local production since the orders do not have requirements for local production like defense deals, a senior government official told Reuters. Deloitte India partner Alaric Diniz expects parts of the commercial aviation supply chain to move to India as plane and engine makers look to avoid disruptions seen in recent years. While he could not estimate how much small suppliers will benefit, any subsidy or incentive could be helpful. AEROSPACE INCENTIVES Some suppliers like Sardessai and Aravind Melligeri, CEO of aerospace-parts producer Aequs, said India should create a production-linked incentive scheme for aerospace as it has done with other sectors. In 2020, Indian Prime Minister Narendra Modi's government launched a program to encourage companies in 14 sectors including autos to manufacture locally by earmarking 1.97 trillion rupees ($24 billion) in incentives. It has drawn investment from the likes of Foxconn 2317.TW, which supplies to iPhone maker Apple AAPL.O, and automakers including Japan's Suzuki Motor 7269.T and South Korea's Hyundai Motor 005380.KS have committed to put in money. Even without incentives, India's growing fleet of aircraft will require more maintenance services. \"If you will have that many planes in India who repairs them?\" said Sachin Agarwal, chairman of PTC Industries PCIN.NS, based in the state of Uttar Pradesh. \"Every supplier wants to be closer to the customer.\" PTC is already taking advantage of global supply-chain demand for alternate source

Determine the maximum fraction of total portfolio capital that should be allocated to XLP, 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 = 0.0130 (i.e., a 1.30% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0130 = 7.6651, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XRP-USD: 60-day history, VaR(99%)=-0.0619, max drawdown threshold=10%.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=0.0004, std=0.0375, worst_day=-0.0648
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 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 = 0.0619 (i.e., a 6.19% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0619 = 1.6159, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ETH-USD: 60-day history, VaR(99%)=-0.0568, max drawdown threshold=10%.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=0.0010, std=0.0301, worst_day=-0.0724
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 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 = 0.0568 (i.e., a 5.68% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0568 = 1.7613, 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=-0.0066, std=0.0408, worst_day=-0.1363
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 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).


XRP-USD: 60-day history, VaR(99%)=-0.0429, max drawdown threshold=10%.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=0.0019, std=0.0265, worst_day=-0.0463
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-02-16]

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 = 0.0429 (i.e., a 4.29% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0429 = 2.3294, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


EWJ: 60-day history, VaR(99%)=-0.0173, max drawdown threshold=10%.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=0.0005, std=0.0088, worst_day=-0.0205
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-05-09] ["Finding the Next Double (5 Factors to Consider) Every investor who tries their hand at Wall Street is looking for the next stock that will double. However, so few investors are successful in finding a winning stock, let alone holding one. Though legendary investors such as Jesse Livermore, Paul Tudor Jones, and Warren Buffett have differing strategies, they share a common thought process about how to make big money in the stock market. Jesse Livermore once said, \u201cThose who can both be right and sit tight are uncommon.\u201d In an interview with Tony Robbins, Paul Tudor Jones said he shoots for a risk-to-reward ratio of 5:1. \u201cFive to one means I\u2019m risking one dollar to make 5.\u201d Buffett proclaimed that \u201cThe stock market is a device to transfer money from the impatient to the patient.\u201d Though the advice of running winners may sound evident on the surface, in practice, it is a different story for most investors. How can investors find the next big winner, and more importantly, how can they fight the human emotions of hope, fear, and greed and ride these winners? Identify a stock in an uptrend: All else equal, it is easier to latch onto an already strong stock than it is to catch a bottom in a weak stock. Stocks like Apple (AAPL), Amazon (AMZN), or Monster (MNST) that doubled years ago went onto double several more times. In other words, strength begets strength. Image Source: Zacks Investment Research Pictured: MNST is up nearly 140,000% since inception! Use moving averages: Moving averages can help you in various ways. For example, a bullish \u201cgolden cross\u201d occurs when the \u201cfaster\u201d 50-day moving average crosses above the \u201cslower\u201d 200-day moving average from below \u2013 signaling a bullish trend change. Nvidia (NVDA), the current market leader, triggered this signal earlier this year. Image Source: Zacks Investment Research Beyond getting you into the stock, the 50-day moving average can help you to stay in the stock for the bulk of a move. The 50-day moving average is an area where institutional investors like to \u201creload on stock\u201d. Thus, the strongest trends are contained within the 50-day moving average. If you can buy a stock above the 50-day moving average and hold until your average cost is below the moving average, you put yourself in a position for success. A good recent example is Elf Beauty (ELF). Image Source: Zacks Investment Research Pictured: ELF has hugged the 50-day moving average for months. Look for stocks with Zacks Rankings of 3 or better: The Zacks Rank grades stocks based on earnings estimates. Year-over-year, the stocks with rising earnings estimates have significantly outperformed the S&P 500 Index. By combining technicals and fundamentals, you begin to stack the odds in your favor. Hone your entry points: It is much easier to hang onto a stock if you purchased it correctly. When entering a stock, there is no need to complicate the process. Find an up-trend

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 = 0.0173 (i.e., a 1.73% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0173 = 5.7818, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


DOT-USD: 60-day history, VaR(99%)=-0.0674, max drawdown threshold=10%.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=0.0067, std=0.0445, worst_day=-0.0695
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 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 = 0.0674 (i.e., a 6.74% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0674 = 1.4842, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLRE: 60-day history, VaR(99%)=-0.0271, max drawdown threshold=10%.

Question:
Asset: XLRE
Daily returns (past 60 days): mean=-0.0013, std=0.0090, worst_day=-0.0353
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-09-25] ["OpenAI's ChatGPT will 'see, hear and speak' in major update Sept 25 (Reuters) - OpenAI's ChatGPT is getting a major update that will enable the viral chatbot to have voice conversations with users and interact using images, moving it closer to popular artificial intelligence (AI) assistants like Apple's AAPL.O Siri. The voice feature \"opens doors to many creative and accessibility-focused applications\", OpenAI said in a blog post on Monday. Similar AI services like Siri, Google GOOGL.O voice assistant and Amazon.com's AMZN.O Alexa are integrated with the devices they run on and are often used to set alarms and reminders, and deliver information off the internet. Since its debut last year, ChatGPT has been adopted by companies for a wide range of tasks from summarizing documents to writing computer code, setting off a race amongst Big Tech companies to launch their own offerings based on generative AI. ChatGPT's new voice feature can also narrate bedtime stories, settle debates at the dinner table, and speak out loud text input from users. The technology behind it is being used by Spotify SPOT.N for the platform's podcasters to translate their content in different languages, OpenAI said. With images support, users can take pictures of things around them and ask the chatbot to \"troubleshoot why your grill won't start, explore the contents of your fridge to plan a meal, or analyze a complex graph for work-related data\". Alphabet's Google Lens is currently the popular choice to gain information on images. The new ChatGPT features will be released for subscribers of its Plus and Enterprise plans over the next two weeks. (Reporting by Zaheer Kachwala and Yuvraj Malik in Bengaluru; Editing by Devika Syamnath) ((yuvraj.malik@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.", "Netflix (NFLX) Expands Portfolio With New Italian Content Netflix NFLX is having a steady run in 2023, with shares rising 28.8% year to date compared with the Zacks Consumer Discretionary sector\u2019s increase of 4.6%. The upside can be attributed to an expanding subscriber base and robust content offerings. Netflix continues to bolster its international content portfolio. Italy plays a prominent role in this endeavour through an extensive lineup that includes a wide range of series, films, docuseries and unscripted shows spanning diverse genres, formats and languages. Netflix recently announced four captivating new projects, including Il treno dei bambini, an in-depth exploration of postwar Italy and Fabbricante di lacrime, based on a popular book. Additionally, two fresh series, Storia della mia famiglia and Adorazione, provide deep explorations of intricate family dynamics and young adult experiences. Expanding Portfolio Aids Growth Netflix is anticipated to gain from its diversified content portfolio, driven by substantial investments in producing and distributing lo

Determine the maximum fraction of total portfolio capital that should be allocated to XLRE, 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 = 0.0271 (i.e., a 2.71% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0271 = 3.6954, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLP: 60-day history, VaR(99%)=-0.0204, max drawdown threshold=10%.

Question:
Asset: XLP
Daily returns (past 60 days): mean=0.0003, std=0.0085, worst_day=-0.0250
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-02-07] ["Looking for Turnaround Plays? 5 EPS Reports to Watch this Week Though last week showcased earnings from mega tech giants such as Apple AAPL, Meta Platforms META, and Alphabet GOOGL, Wall Street is still in the heart of earnings season. Below we will discuss 5 key earnings reports to monitor this week: Tuesday, February 7th After the Market Close: Enphase Energy (ENPH) is a global solar technology company that delivers energy management technology to the solar industry. Over the past two quarters, Enphase has delivered robust triple-digit EPS growth of 108% and 102% on revenue growth of 81% and 68%. Despite the impressive fundamental backdrop, shares of ENPH have underperformed its solar peers such as First Solar FSLR. Image Source: Zacks Investment Research One potential reason that ENPH\u2019s consensus analyst estimates for 2023 have dropped in recent weeks. Image Source: Zacks Investment Research The stock has also gone from having a best possible Zacks ranking of 1 to having a mediocre ranking of 3. ENPH also has a negative Expected Surprise Prediction (ESP) number suggesting that shares are likely to underperform on earnings. Investors should watch to see if the company can defy analyst expectations and continue to deliver strong results. Chipotle Mexican Grill CMG is an early entrant and leader in the \u201cfast-casual\u201d food space due to its popular Mexican food chain and burritos. The company gained popularity due to its low-cost yet healthy food offering. Chipotle only uses hormone-free pork and natural chicken ingredients, which are cooked through traditional methods. Though the stock has had a difficult couple of years, elevated inflation may be working in the company\u2019s favor. While most prominent tech companies are laying off thousands of employees, CMG is bucking that trend. Recently, the burrito giant announced that it is looking to hire 15,000 new employees. Wednesday, February 8th Before the Market Open: Uber Technologies UBER is the largest ride-sharing company in the world. Despite its massive market cap and name recognition, Uber has yet to turn an annual profit as a public company. Uber and its most significant competitor Lyft LYFT have underperformed the S&P 500 since debuting but have tried to turn the corner in recent weeks. Each is up six straight weeks into their earnings reports this week (LYFT is expected to report Thursday after the close) Image Source: Zacks Investment Research Lyft is likely to move in sympathy with Uber\u2019s Wednesday report. However, presently Lyft is a more robust stock from a fundamental lens. Lyft has a strong Zacks rank of 2, and a positive Earnings Expected Price Surprise (ESP). Image Source: Zacks Investment Research Wednesday, February 8th After the Market Close: Robinhood Markets HOOD is a registered broker-dealer and one of the most popular online brokers for online traders. Robinhood shares quickly doubled after debuting in September 202. However, they have careened lower sin

Determine the maximum fraction of total portfolio capital that should be allocated to XLP, 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 = 0.0204 (i.e., a 2.04% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0204 = 4.9096, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLB: 60-day history, VaR(99%)=-0.0149, max drawdown threshold=10%.

Question:
Asset: XLB
Daily returns (past 60 days): mean=0.0006, std=0.0080, worst_day=-0.0155
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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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 = 0.0149 (i.e., a 1.49% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0149 = 6.7332, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLI: 60-day history, VaR(99%)=-0.0150, max drawdown threshold=10%.

Question:
Asset: XLI
Daily returns (past 60 days): mean=0.0000, std=0.0076, worst_day=-0.0160
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 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 = 0.0150 (i.e., a 1.50% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0150 = 6.6799, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLB: 60-day history, VaR(99%)=-0.0232, max drawdown threshold=10%.

Question:
Asset: XLB
Daily returns (past 60 days): mean=0.0002, std=0.0107, worst_day=-0.0250
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-07-07] ["Here is What to Know Beyond Why Apple Inc. (AAPL) is a Trending Stock Apple (AAPL) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this maker of iPhones, iPads and other products have returned +6.2%, compared to the Zacks S&P 500 composite's +3.1% change. During this period, the Zacks Computer - Mini computers industry, which Apple falls in, has gained 7%. The key question now is: What could be the stock's future direction? While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making. Earnings Estimate Revisions Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Apple is expected to post earnings of $1.20 per share for the current quarter, representing no change from the year-ago quarter. Over the last 30 days, the Zacks Consensus Estimate has changed -1.5%. The consensus earnings estimate of $6 for the current fiscal year indicates a year-over-year change of -1.8%. This estimate has changed +0.1% over the last 30 days. For the next fiscal year, the consensus earnings estimate of $6.62 indicates a change of +10.4% from what Apple is expected to report a year ago. Over the past month, the estimate has changed -0.2%. Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Apple is rated Zacks Rank #3 (Hold). The chart below shows the evolution of the company's forward 12-month consensus EPS estimate: 12 Month EPS Projected Revenue Growth While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase i

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 = 0.0232 (i.e., a 2.32% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0232 = 4.3193, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


FXI: 60-day history, VaR(99%)=-0.0322, max drawdown threshold=10%.

Question:
Asset: FXI
Daily returns (past 60 days): mean=-0.0013, std=0.0152, worst_day=-0.0416
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-01] ["Best Blue Chip Stocks To Invest In Right Now? 2 In Focus Blue-chip stocks are shares of well-established, financially sound companies with a history of stable earnings. These companies are often market leaders or among the top in their sectors. Characterized by their large market capitalization, blue-chip stocks are known for their reliability and strong track record. They are often included in major stock indices. Investing in blue-chip stocks offers several advantages. These stocks typically provide consistent dividends, contributing to steady income for investors. Their long-standing market presence suggests a lower risk of volatility. This makes them a popular choice for conservative investors. However, there are also disadvantages. Blue-chip stocks may have slower growth compared to emerging companies. Their size can limit their potential for rapid expansion. When considering blue-chip stocks, investors should weigh their investment goals. These stocks can be a cornerstone for a long-term, stable portfolio. Yet, their conservative nature might not suit those seeking high growth rates. As with any investment, diversification is key. Keeping this on top of mind, let\u2019s look at two blue chip stocks to watch in the stock market today. Blue Chip Stocks To Buy [Or Avoid] Today McDonald\u2019s Corporation (NYSE: MCD) Apple Inc. (NASDAQ: AAPL) McDonald\u2019s Corporation (MCD Stock) Let\u2019s start with McDonald\u2019s Corporation (MCD). The company is a global fast-food chain, renowned for its hamburgers, fries, and quick-service meals. McDonald\u2019s is one of the world\u2019s largest restaurant chains, with outlets in over 100 countries. McDonald\u2019s is known for its standardized menu items and for pioneering the franchise model in the fast-food industry. Last month, McDonald\u2019s Corporation announced its decision to acquire Carlyle\u2019s minority ownership stake in the strategic partnership managing McDonald\u2019s business in mainland China, Hong Kong, and Macau. The announcement, made on November 20, 2023, detailed that while the CITIC Consortium, primarily through CITIC Capital, would maintain its controlling 52% stake, McDonald\u2019s would increase its stake from 20% to 48%. This move marks a significant adjustment in McDonald\u2019s involvement in its Chinese operations. In the last month of trading action, shares of MCD have advanced by 8.36%. Meanwhile, during Friday morning\u2019s trading session, McDonald\u2019s stock is trading slightly higher on the day so far by 0.72%, trading at $283.88 a share. [Read More] 2 Dow 30 Stocks For Your December 2023 Watchlist Apple (AAPL Stock) Next, Apple Inc. (AAPL) is a multinational technology company that specializes in consumer electronics, software, and online services. Apple\u2019s key products include the iPhone, iPad, Mac computers, and services like the App Store, Apple Music, and iCloud. At the beginning of last month, Apple reported better-than-expected fourth-quarter 2023 f

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 = 0.0322 (i.e., a 3.22% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0322 = 3.1071, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


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

Question:
Asset: BNO
Daily returns (past 60 days): mean=-0.0028, std=0.0214, worst_day=-0.0545
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to BNO, 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 = 2.0816, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


VNQI: 60-day history, VaR(99%)=-0.0240, max drawdown threshold=10%.

Question:
Asset: VNQI
Daily returns (past 60 days): mean=0.0000, std=0.0079, worst_day=-0.0251
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to VNQI, 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 = 0.0240 (i.e., a 2.40% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0240 = 4.1681, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


QQQ: 60-day history, VaR(99%)=-0.0332, max drawdown threshold=10%.

Question:
Asset: QQQ
Daily returns (past 60 days): mean=-0.0005, std=0.0151, worst_day=-0.0365
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 0000104169 2023-05-01 2023-07-31 0000104169 2023-02-01 2023-07-31 0000104169 2024-07-31 0000104169 2024-01-31 0000104169 2023-07-31 0000104169 us-gaap:CommonStockMember 2024-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-31 0000104169 us-gaap:ParentMember 2024-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-02-01 2024-04-30 0000104169 us-gaap:ParentMember 2024-02-01 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-02-01 2024-04-30 0000104169 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-02-01 2024-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-04-30 0000104169 us-gaap:RetainedEarningsMember 2024-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-04-30 0000104169 us-gaap:ParentMember 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-04-30 0000104169 2024-04-30 0000104169 us-gaap:RetainedEarningsMember 2024-05-01 2024-07-31 0000104169 us-gaap:ParentMember 2024-05-01 2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-05-01 2024-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-05-01 2024-07-31 0000104169 us-gaap:CommonStockMember 2024-05-01 2024-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-05-01 2024-07-31 0000104169 us-gaap:CommonStockMember 2024-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-07-31 0000104169 us-gaap:RetainedEarningsMember 2024-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-31 0000104169 us-gaap:ParentMember 2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-07-31 0000104169 us-gaap:CommonStockMember 2023-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-01-31 0000104169 us-gaap:RetainedEarningsMember 2023-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-31 0000104169 us-gaap:ParentMember 2023-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-01-31 0000104169 2023-01-31 0000104169 us-gaap:RetainedEarningsMember 2023-02-01 2023-04-30 0000104169 us-gaap:ParentMember 2023-02-01 2023-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2023-02-01 2023-04-30 0000104169 2023-02-01 2023-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-02-01 2023-04-30 0000104169 us-gaap:CommonStockMember 2023-02-01 2023-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-02-01 2023-04-30 0000104169 us-gaap:CommonStockMember 2023-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-04-30 0000104169 us-gaap:RetainedEarningsMember 2023-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-30 0000104169 us-gaap:ParentMember 2023-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2023-04-30 0000104169 2023-04-30 0000104169 us-gaap:RetainedEarningsMember 2023-05-01 2023-07-31 0000104169 us-gaap:ParentMember 2023-05-01 2023-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-05-01 2023-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-05-01 2023-07-31 0000104169 us-gaap:CommonStockMember 2023-05-01 2023-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-05-01 2023-07-31 0000104169 us-gaap:CommonStockMember 2023-07-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-07-31 0000104169 us-gaap:RetainedEarningsMember 2023-07-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-31 0000104169 us-gaap:ParentMember 2023-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2023-07-31 0000104169 2024-02-23 2024-02-23 0000104169 2024-02-23 0000104169 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 QQQ, 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 = 0.0332 (i.e., a 3.32% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0332 = 3.0150, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


AVAX-USD: 60-day history, VaR(99%)=-0.0558, max drawdown threshold=10%.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0075, std=0.0209, worst_day=-0.0684
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-09-12]

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: 1.0000

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.0558 (i.e., a 5.58% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0558 = 1.7912, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).