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

Question:
Asset: VEA
Daily returns (past 60 days): mean=0.0009, std=0.0068, worst_day=-0.0176
Maximum acceptable portfolio drawdown: 10%
Market regime: bull
Recent filing/news:
[SEC 10-Q BLK 2024-05-07] 10-Q --12-31 Q1 0001364742 false http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense 2024-06 2024-03 2024-06 2024-03 http://fasb.org/us-gaap/2023#GainLossOnInvestments http://fasb.org/us-gaap/2023#GainLossOnInvestments http://fasb.org/us-gaap/2023#GeneralAndAdministrativeExpense http://fasb.org/us-gaap/2023#GeneralAndAdministrativeExpense 2028-03-31 9 1 1 1 1 9 1 1 1 1 9 1 1 1 1 9 1 1 1 1 1 P2Y 0 years 0 years 2027-05-30 2028-05-30 2029-05-30 2027-05-30 2028-05-30 2029-05-30 0001364742 us-gaap:FairValueInputsLevel1Member us-gaap:PrivateEquityFundsMember us-gaap:FairValueMeasurementsRecurringMember 2024-03-31 0001364742 us-gaap:EquitySecuritiesMember blk:InvestmentInNAVMember 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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 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).


PALL: 60-day history, VaR(99%)=-0.0502, max drawdown threshold=10%.

Question:
Asset: PALL
Daily returns (past 60 days): mean=-0.0016, std=0.0283, worst_day=-0.0619
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

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 = 0.0502 (i.e., a 5.02% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0502 = 1.9906, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


QUAL: 60-day history, VaR(99%)=-0.0195, max drawdown threshold=10%.

Question:
Asset: QUAL
Daily returns (past 60 days): mean=0.0008, std=0.0074, worst_day=-0.0218
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[SEC 10-Q CVX 2024-11-07] cvx-20240930 0000093410 12/31 2024 Q3 false 102 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure cvx:segment cvx:lawsuit cvx:State cvx:tribe cvx:parish 0000093410 2024-01-01 2024-09-30 0000093410 2024-09-30 0000093410 2024-07-01 2024-09-30 0000093410 2023-07-01 2023-09-30 0000093410 2023-01-01 2023-09-30 0000093410 2023-12-31 0000093410 2022-12-31 0000093410 2023-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2023-06-30 0000093410 us-gaap:RetainedEarningsMember 2023-06-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-06-30 0000093410 us-gaap:TreasuryStockCommonMember 2023-06-30 0000093410 us-gaap:ParentMember 2023-06-30 0000093410 us-gaap:NoncontrollingInterestMember 2023-06-30 0000093410 2023-06-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2023-07-01 2023-09-30 0000093410 us-gaap:ParentMember 2023-07-01 2023-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2023-07-01 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us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2024-01-01 2024-09-30 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2024-09-30 000009 [...TRUNCATED...] ATION ISSUER PURCHASES OF EQUITY SECURITIES   Period Total Number of Shares Purchased (*) Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Approximate Dollar Value of Shares that May Yet Be Purchased Under the 2023 Program (*) (Billions of dollars) July 1 - July 31, 2024 7,923,000  $156.56 7,923,000  $56.6 August 1 - August 31, 2024 12,057,000  $146.20 12,057,000  $54.8 September 1 - September 30, 2024 12,229,398  $142.84 12,229,398  $53.1 Total 32,209,398   $147.47 32,209,398   (*) Refer to “Liquidity and Capital Resources” for additional information regarding the company’s authorized stock repurchase program. Item 5. Other Information Rule 10b5-1 Plan Elections A. Nigel Hearne , Executive Vice President, Senior Advisor , entered into a pre-arranged stock trading plan on August 19, 2024 . Mr. Hearne’s plan provides for the potential exercise of vested stock options and the associated sale of up to 60,468 shares of Chevron common stock between November 18, 2024, and February 28, 2025 . The trading plan was entered into during an open insider trading window and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended, and Chevron’s policies regarding transactions in Chevron securities. 44 Table of Contents Item 6. Exhibits Exhibit Index Exhibit Number Description 10.1+* Chevron Incentive Plan, amended and restated effective October 2, 2023 (refi l ed to correct formatting in the previo usly filed version) . 10.2+* Chevron Corporation Retirement Restoration Plan, amended and restated effective August 1, 2024. 10.3+* Chevron Corporation ESIP Restoration Plan, amended and restated effective August 1, 2024. 31.1* Rule 13a-14(a)/15d-14(a) Certification by the company’s Chief Executive Officer 31.2* Rule 13a-14(a)/15d-14(a) Certification by the company’s Chief Financial Officer 32.1** Rule 13a-14(b)/15d-14(b) Certification by the company’s Chief Executive Officer 32.2** Rule 13a-14(b)/15d-14(b) Certification by the company’s Chief Financial Officer 101* Interactive data files (formatted as Inline XBRL) 104* Cover Page Interactive Data File (contained in Exhibit 101) ____________________________________________ +     Indicates a management contract or compensatory plan or arrangement. *    Filed herewith. **     Furnished herewith. 45 Table of Contents 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.   C HEVRON C ORPORATION (R EGISTRANT ) / S /   A LANA K. K NOWLES Alana K. Knowles, Vice President and Controller (Principal Accounting Officer and Duly Authorized Officer) Date: November 7, 2024 46

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 = 0.0195 (i.e., a 1.95% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0195 = 5.1190, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


SPY: 60-day history, VaR(99%)=-0.0117, max drawdown threshold=10%.

Question:
Asset: SPY
Daily returns (past 60 days): mean=0.0020, std=0.0058, worst_day=-0.0160
Maximum acceptable portfolio drawdown: 10%
Market regime: bull
Recent filing/news:
[SEC 10-Q BLK 2024-05-07] 10-Q --12-31 Q1 0001364742 false http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#OtherAssets http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense http://fasb.org/us-gaap/2023#NonoperatingIncomeExpense 2024-06 2024-03 2024-06 2024-03 http://fasb.org/us-gaap/2023#GainLossOnInvestments http://fasb.org/us-gaap/2023#GainLossOnInvestments http://fasb.org/us-gaap/2023#GeneralAndAdministrativeExpense http://fasb.org/us-gaap/2023#GeneralAndAdministrativeExpense 2028-03-31 9 1 1 1 1 9 1 1 1 1 9 1 1 1 1 9 1 1 1 1 1 P2Y 0 years 0 years 2027-05-30 2028-05-30 2029-05-30 2027-05-30 2028-05-30 2029-05-30 0001364742 us-gaap:FairValueInputsLevel1Member us-gaap:PrivateEquityFundsMember us-gaap:FairValueMeasurementsRecurringMember 2024-03-31 0001364742 us-gaap:EquitySecuritiesMember blk:InvestmentInNAVMember 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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 = 0.0117 (i.e., a 1.17% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0117 = 8.5330, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IYR: 60-day history, VaR(99%)=-0.0182, max drawdown threshold=10%.

Question:
Asset: IYR
Daily returns (past 60 days): mean=0.0005, std=0.0079, worst_day=-0.0200
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to IYR, 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 = 0.0182 (i.e., a 1.82% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0182 = 5.4843, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLF: 60-day history, VaR(99%)=-0.0372, max drawdown threshold=10%.

Question:
Asset: XLF
Daily returns (past 60 days): mean=-0.0015, std=0.0142, worst_day=-0.0372
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-05-23] ["Don't Count On Apple's New Headset To Move The Needle For The Stock Apple (NASDAQ:AAPL) is widely expected to launch its mixed-reality headset shortly, potentially as early as the beginning of June, when the company holds its annual worldwide developer conference (WWDC). The headset would be Apple\u2019s first all-new product line since the Apple Watch and the potential launch comes at a time when Apple\u2019s bread and butter smartphone and computing product businesses face a slowdown, with Covid-19 tailwinds easing. So will the new device move the needle for Apple stock? We don\u2019t think it will, for a couple of reasons. While Apple is known for disrupting product categories with highly refined products with great software and design, the new headset appears to be entering a much more nascent market. Smartphone sales were rising and use cases were clear when Apple got into the game in 2007 with a highly refined product. Similarly, the templates for tablets were largely set when Apple launched iPad in 2010. However, the mixed-reality headset appears like a bit more of a speculative bet. While Apple\u2019s products are typically sleek, with high-end industrial design, the headset could be more utilitarian and could resemble a pair of goggles connected to an external battery pack, per the Wall Street Journal. The device is expected to combine virtual reality \u2013 used for games and experiences \u2013 with augmented reality, which overlays digital information in the real world potentially using cameras. Apple would need to educate consumers on what the device is really for. Companies such as Facebook have invested considerable sums into this space thus far with little success. Worldwide shipments of VR headsets and augmented reality devices actually declined by over 12% year over year to 9.6 million in 2022, per data from analyst firm CCS Insight. Apple\u2019s device is also initially going to be expensive, with reports pointing to a price tag of roughly $3,000, indicating that it will likely focus on a niche audience of early adopters in its first iteration. Overall, we don\u2019t think the device will help Apple\u2019s stock in the near term. Apple stock already trades at a relatively lofty $175 per share, or almost 30x forward earnings, despite the fact that consensus forecasts point to a revenue decline this year. We don\u2019t think the pricey headset will do much to re-rate Apple stock higher in the near term. That being said, there is good reason to believe that Apple could eventually make its mark in the segment. Apple is known for cutting-edge hardware engineering and also emerging as a leader in semiconductor design. Apple also has a knack of working with developers and building a software ecosystem around its products, while refining future iterations of the device around particular areas that consumers like. For instance, with the Apple Watch, Apple took a few years to zone in that customers really valued the fitness capacities o

Determine the maximum fraction of total portfolio capital that should be allocated to XLF, 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 = 0.0372 (i.e., a 3.72% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0372 = 2.6872, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IWM: 60-day history, VaR(99%)=-0.0343, max drawdown threshold=10%.

Question:
Asset: IWM
Daily returns (past 60 days): mean=-0.0001, std=0.0138, worst_day=-0.0360
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2024-04-01 2024-06-30 0001364742 blk:EquityETFsMember blk:RevenueByClientTypeMember 2023-04-01 2023-06-3 [...TRUNCATED...] y primarily to satisfy income tax withholding obligations of employees and members of the Company’s Board of Directors related to the vesting of certain restricted stock unit awards and purchases made by the Company as part of the share repurchase program that the Company announced in July 2010, which initially authorized the repurchase of 5.1 million shares with no stated expiration. In January 2023, the Company announced that 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. 70   Item 5. Other Information O n May 13, 2024 , Mark Wiedman , Senior Managing Director , adopted a Rule 10b5-1 trading plan, intended to satisfy the affirmative defense of Rule 10b5-1(c), for the sale of up to 36,000 shares of BlackRock common stock. The plan's expiration date is April 30, 2025 . 71   Item 6. Exh ibits Exhibit No.   Description       10.1(1)       Amendment No. 15, dated as of May 31, 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       10.2(2)   BlackRock, Inc. Third Amended and Restated 1999 Stock Award and Incentive Plan+       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 May 31, 2024. (2) Incorporated by reference to BlackRock’s Definitive Proxy Statement on Form DEF 14A filed on April 4, 2024. + Denotes compensatory plans or arrangements. 72   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: August 6, 2024     Martin S. Small       Senior Managing Director & Chief Financial Officer (Principal Financial Officer)   73

Determine the maximum fraction of total portfolio capital that should be allocated to IWM, 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 = 0.0343 (i.e., a 3.43% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0343 = 2.9181, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XHB: 60-day history, VaR(99%)=-0.0330, max drawdown threshold=10%.

Question:
Asset: XHB
Daily returns (past 60 days): mean=0.0020, std=0.0162, worst_day=-0.0340
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 = 0.0330 (i.e., a 3.30% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0330 = 3.0344, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


XLU: 60-day history, VaR(99%)=-0.0221, max drawdown threshold=10%.

Question:
Asset: XLU
Daily returns (past 60 days): mean=-0.0003, std=0.0105, worst_day=-0.0235
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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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 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 = 0.0221 (i.e., a 2.21% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0221 = 4.5321, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


REZ: 60-day history, VaR(99%)=-0.0256, max drawdown threshold=10%.

Question:
Asset: REZ
Daily returns (past 60 days): mean=0.0011, std=0.0096, worst_day=-0.0332
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to REZ, 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 = 0.0256 (i.e., a 2.56% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0256 = 3.9139, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IWM: 60-day history, VaR(99%)=-0.0298, max drawdown threshold=10%.

Question:
Asset: IWM
Daily returns (past 60 days): mean=0.0007, std=0.0125, worst_day=-0.0371
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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0000104169 us-gaap:FairValueInputsLevel12And3Member 2021-02-01 2022-01-31 00001 [...TRUNCATED...] sentation Linkbase Document 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith as an Exhibit. ** Furnished herewith as an Exhibit. (C) This Exhibit is a management contract or compensatory plan or arrangement (P) This Exhibit was originally filed in paper format. Accordingly, a hyperlink has not been provided. (1) Certain instruments defining the rights of holders of long-term debt securities of the Registrant are omitted pursuant to Item 601(b)(4)(iii) of Regulation S-K. The Company hereby undertakes to furnish to the SEC, upon request, copies of any such instruments. (c)    Financial Statement Schedules: None. ITEM 16. FORM 10-K SUMMARY None. 85 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.   Walmart Inc. Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     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 and on the dates indicated: Date: March 15, 2024   By   /s/ C. Douglas McMillon     C. Douglas McMillon     President and Chief Executive Officer and Director     (Principal Executive Officer) Date: March 15, 2024   By   /s/ Gregory B. Penner     Gregory B. Penner     Chairman of the Board and Director Date: March 15, 2024   By   /s/ John David Rainey     John David Rainey     Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: March 15, 2024   By   /s/ David M. Chojnowski     David M. Chojnowski     Senior Vice President and Controller (Principal Accounting Officer) Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 86 Date: March 15, 2024   By   /s/ Cesar Conde     Cesar Conde     Director Date: March 15, 2024 By /s/ Timothy P. Flynn Timothy P. Flynn Director Date: March 15, 2024 By /s/ Sarah Friar Sarah Friar Director Date: March 15, 2024 By /s/ Carla A. Harris Carla A. Harris Director Date: March 15, 2024 By /s/ Thomas W. Horton Thomas W. Horton Director Date: March 15, 2024 By /s/ Marissa A. Mayer Marissa A. Mayer Director Date: March 15, 2024 By /s/ Randall L. Stephenson Randall L. Stephenson Director Date: March 15, 2024   By   /s/ S. Robson Walton     S. Robson Walton     Director Date: March 15, 2024   By   /s/ Steuart L. Walton     Steuart L. Walton     Director Signature Page to Walmart Inc. Form 10-K for the Fiscal Year Ended January 31, 2024 87

Determine the maximum fraction of total portfolio capital that should be allocated to IWM, 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 = 0.0298 (i.e., a 2.98% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0298 = 3.3568, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BTC-USD: 60-day history, VaR(99%)=-0.0489, max drawdown threshold=10%.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=-0.0003, std=0.0226, worst_day=-0.0531
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 = 0.0489 (i.e., a 4.89% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0489 = 2.0454, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BNB-USD: 60-day history, VaR(99%)=-0.1337, max drawdown threshold=10%.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=-0.0039, std=0.0423, worst_day=-0.1754
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-01-04]

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: 0.7480

Explanation:
Step 1: Compute |VaR(99%)| from historical returns = 0.1337 (i.e., a 13.37% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.1337 = 0.7480, capped at 1.0.
Maximum position size = 0.7480 (74.8% of portfolio).


SHV: 60-day history, VaR(99%)=-0.0001, max drawdown threshold=10%.

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

Determine the maximum fraction of total portfolio capital that should be allocated to SHV, 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 = 0.0001 (i.e., a 0.01% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0001 = 722.1323, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BTC-USD: 60-day history, VaR(99%)=-0.0561, max drawdown threshold=10%.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0029, std=0.0294, worst_day=-0.0624
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-04-20]

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 = 0.0561 (i.e., a 5.61% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0561 = 1.7810, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


DOT-USD: 60-day history, VaR(99%)=-0.0530, max drawdown threshold=10%.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0037, std=0.0182, worst_day=-0.0588
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-10-08]

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 = 0.0530 (i.e., a 5.30% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0530 = 1.8884, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


QUAL: 60-day history, VaR(99%)=-0.0177, max drawdown threshold=10%.

Question:
Asset: QUAL
Daily returns (past 60 days): mean=0.0004, std=0.0090, worst_day=-0.0191
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-11-16] ["July 2024 Options Now Available For Apple Investors in Apple Inc (Symbol: AAPL) saw new options begin trading today, for the July 2024 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 246 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAPL options chain for the new July 2024 contracts and identified one put and one call contract of particular interest. The put contract at the $185.00 strike price has a current bid of $8.95. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $185.00, but will also collect the premium, putting the cost basis of the shares at $176.05 (before broker commissions). To an investor already interested in purchasing shares of AAPL, that could represent an attractive alternative to paying $188.92/share today. Because the $185.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 4.84% return on the cash commitment, or 7.18% annualized \u2014 at Stock Options Channel we call this the YieldBoost. Below is a chart showing the trailing twelve month trading history for Apple Inc, and highlighting in green where the $185.00 strike is located relative to that history: Turning to the calls side of the option chain, the call contract at the $190.00 strike price has a current bid of $15.30. If an investor was to purchase shares of AAPL stock at the current price level of $188.92/share, and then sell-to-open that call contract as a \"covered call,\" they are committing to sell the stock at $190.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.67% if the stock gets called away at the July 2024 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAPL shares really soar, which is why looking at the trailing twelve month trading history for Apple Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAPL's trailing twelve month trading history, with the $190.00 strike highlighted in red: Considering the fact that the $190.00 strike represents an approximate 1% premium to the cur

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 = 0.0177 (i.e., a 1.77% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0177 = 5.6593, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IVV: 60-day history, VaR(99%)=-0.0192, max drawdown threshold=10%.

Question:
Asset: IVV
Daily returns (past 60 days): mean=0.0014, std=0.0106, worst_day=-0.0200
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-04-03] ["Top Research Reports for Apple, Meta Platforms & Visa Monday, April 3, 2023 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Meta Platforms, Inc. (META) and Visa Inc. (V). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today\u2019s research reports here >>> Apple shares are up +26.7% in the year-to-dater period vs. the Zacks Tech sector's 20.6% gain and the S&P 500 index's +7.4% gain. The company expects the March quarter\u2019s year-over-year revenue growth to be similar to that of the December quarter due to unfavorable forex. For iPhone, Apple expects the March quarter\u2019s year-over-year revenue growth to accelerate relative to the December quarter\u2019s year-over-year revenue growth. For Mac and iPad, revenues are expected to decline in double digits on a year-over-year basis due to challenging comparison and macroeconomic headwinds. Services revenue growth is expected to be negatively impacted by challenging macroeconomic conditions, as well as weakness in digital advertising and gaming. However, revenues are expected to grow year over year. Growing services subscriber base and a strong liquidity position are key catalysts for Apple\u2019s prospects. (You can read the full research report on Apple here >>>) Shares of Meta Platforms have outperformed the Zacks Internet - Software industry over the past six months (+51.1% vs. +14.1%). The company is benefiting from steady user growth across all regions, particularly Asia Pacific. Increased engagement for its products like Instagram, WhatsApp, Messenger, and Facebook has been a major growth driver. Its restructuring plan is expected to reduce expenses driving profitability. However, challenging macroeconomic conditions is negatively impacting Meta\u2019s advertising revenues. Unfavorable forex, targeting and measurement headwinds due to Apple\u2019s iOS changes, normalization of e-commerce after the pandemic peak and higher inflation hurt growth in the reported quarter. Meta\u2019s first-quarter guidance reflects macroeconomic and forex concerns. Weak advertising demand is a headwind. Meta expects Reels to monetize much slower than feed or stories, which is a concern. (You can read the full research report on Meta Platforms here >>>) Visa shares have outperformed the Zacks Financial Transaction Services industry over the past six months (+22.0% vs. +15.2%). The company\u2019s numerous buyouts and alliances paved the way for long-term growth and consistently drove its revenues. For fiscal 2023, net revenues are estimated to rise in the high single digits on a reported nominal dollar basis. Constant investments in technology are solidifying its position in the payments market. A shift in payments to the digital mode is a boon for Visa. Steady domestic volumes and transactions ris

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 = 0.0192 (i.e., a 1.92% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0192 = 5.1994, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


MATIC-USD: 60-day history, VaR(99%)=-0.0699, max drawdown threshold=10%.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=-0.0046, std=0.0244, worst_day=-0.0737
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-06-06]

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 = 0.0699 (i.e., a 6.99% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0699 = 1.4304, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


IWM: 60-day history, VaR(99%)=-0.0225, max drawdown threshold=10%.

Question:
Asset: IWM
Daily returns (past 60 days): mean=0.0007, std=0.0119, worst_day=-0.0250
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-07-06] ["Wall St logs sharp losses as labor market strength stokes rate-hike fears By Lewis Krauskopf, Bansari Mayur Kamdar and Johann M Cherian July 6 (Reuters) - Wall Street's main indexes ended sharply lower on Thursday in a broad sell-off after data showing a strong labor market boosted bond yields and fanned fears the Federal Reserve will be aggressive in raising U.S. interest rates. The S&P 500 posted its biggest daily percentage drop since May 23. The Dow logged its biggest single-day fall since May 2. Private payrolls surged far more than expected in June, data showed, suggesting the labor market remained solid despite growing risks of a recession. A separate report showed U.S. job openings dropped in May, but remained at elevated levels. A day before the monthly U.S employment report, evidence of a solid labor market spurred expectations the Fed will keep interest rates higher for longer to tame stubborn inflation. \u201cWe don\u2019t see any softening in the labor market,\u201d said Brad McMillan, chief investment officer for Commonwealth Financial Network. \u201cThe Fed doesn\u2019t have to worry about the jobs market. When you look at their mandate, they have no reason not to keep hiking and to keep hiking for a while.\u201d The Dow Jones Industrial Average .DJI fell 366.38 points, or 1.07%, to 33,922.26, the S&P 500 .SPX lost 35.23 points, or 0.79%, to 4,411.59 and the Nasdaq Composite .IXIC dropped 112.61 points, or 0.82%, to 13,679.04. All 11 S&P 500 sectors ended down. Energy .SPNY led declines among the sectors, dropping about 2.5%, while consumer discretionary .SPLRCD slumped nearly 1.7%. Gains in megacap stocks mitigated declines for the major indexes, which ended above their session lows. Microsoft MSFT.O rose 0.9% while Apple AAPL.O was up 0.3%. Treasury yields jumped following the labor market data. The benchmark 10-year yield US10YT=RR burst above 4% while the two-year US2YT=RR Treasury yield, which typically moves in step with interest rate expectations, hit a 16-year high. U.S. interest rate futures saw an increased probability of another rate hike by the Federal Reserve in November, according to CME's FedWatch. The Fed did not hike rates in June but is widely expected to resume increases at its July meeting. Dallas Fed President Lorie Logan said there was a case for a rate rise at the June policy meeting. In company news, Exxon Mobil Corp XOM.N shares fell 3.7% after the oil major signaled a sharp fall in second-quarter operating profits on lower natural gas prices and weaker oil refining margins. Second-quarter corporate reports will arrive in coming weeks with S&P 500 earnings expected to fall 5.7% from a year-ago, according to Refinitiv data. \u201cYou have a situation where rates are going higher, profits are not really moving,\" said King Lip, chief strategist at Baker Avenue Wealth Management. \"That\u2019s usually not a good combination for stocks.\u201d JetBlue AirwaysJBLU.O shares dropped 7.2% a day after the company s

Determine the maximum fraction of total portfolio capital that should be allocated to IWM, 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 = 0.0225 (i.e., a 2.25% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0225 = 4.4464, 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=-0.0046, std=0.0420, 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).


USMV: 60-day history, VaR(99%)=-0.0103, max drawdown threshold=10%.

Question:
Asset: USMV
Daily returns (past 60 days): mean=0.0012, std=0.0051, worst_day=-0.0109
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
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ko:InternationalMember ko:FinishedProductOperationsMember 2023-07-01 2023-09-29 0000021344 ko:FinishedProductOperationsMember 2 [...TRUNCATED...]  among Coca-Cola Refreshments USA, Inc., the Company and Deutsche Bank Trust Company Americas, as trustee — incorporated herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on June 2 3, 2017. 4.51 Third Supplemental Indenture, dated as of July 5, 2017, to the Indenture, dated as of July 30, 1991, as amended, among Coca-Cola Refreshments USA, Inc., the Company and Deutsche Bank Trust Company Americas, as trustee — incorporated herein by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed on July 6, 2017. 10.1 Supplemental Award Notification — 2022 and 2023 Performance Share Units under The Coca-Cola 2014 Equity Plan — incorporated herein by reference to Exhibit 10.1 to the Company’s Form 8-K filed on August 21, 2024. 10.2 Supplemental Award Notification — 2022 and 2023 Restricted Stock Units under The Coca-Cola 2014 Equity Plan — incorporated herein by reference to Exhibit 10.2 to the Company’s Form 8-K filed on August 21, 2024. 31.1 Rule 13a-14(a)/15d-14(a) Certification, executed by James Quincey, Chairman of the Board of Directors and Chief Executive Officer of The Coca-Cola Company. 31.2 Rule 13a-14(a)/15d-14(a) Certification, executed by John Murphy, President and Chief Financial Officer of The Coca-Cola Company. 32.1 Certifications required by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. Section 1350), executed by James Quincey, Chairman of the Board of Directors and Chief Executive Officer of The Coca-Cola Company, and by John Murphy, President and Chief Financial Officer of The Coca-Cola Company. 101 The following financial information from The Coca-Cola Company’s Quarterly Report on Form 10-Q for the quarter ended September 27, 2024, formatted in iXBRL (Inline Extensible Business Reporting Language): (i) Consolidated Statements of Income for the three and nine months ended September 27, 2024 and September 29, 2023; (ii) Consolidated Statements of Comprehensive Income for the three and nine months ended September 27, 2024 and September 29, 2023; (iii) Consolidated Balance Sheets as of September 27, 2024 and December 31, 2023; (iv) Consolidated Statements of Cash Flows for the nine months ended September 27, 2024 and September 29, 2023; and (v) Notes to Consolidated Financial Statements. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the iXBRL document and included in Exhibit 101). 57 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.     THE COCA-COLA COMPANY (Registrant) /s/ ERIN MAY Date: October 24, 2024 Erin May Senior Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) 58

Determine the maximum fraction of total portfolio capital that should be allocated to USMV, 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 = 0.0103 (i.e., a 1.03% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0103 = 9.6808, capped at 1.0.
Maximum position size = 1.0000 (100.0% 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=0.0010, std=0.0386, worst_day=-0.0799
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-03-21]

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).


SCHP: 60-day history, VaR(99%)=-0.0076, max drawdown threshold=10%.

Question:
Asset: SCHP
Daily returns (past 60 days): mean=0.0010, std=0.0042, worst_day=-0.0086
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways

Determine the maximum fraction of total portfolio capital that should be allocated to SCHP, 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 = 0.0076 (i.e., a 0.76% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0076 = 13.0884, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


EWJ: 60-day history, VaR(99%)=-0.0170, max drawdown threshold=10%.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=0.0010, std=0.0097, worst_day=-0.0176
Maximum acceptable portfolio drawdown: 10%
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-26] ["Apple Watch ban goes into effect, Bristol Myers buying RayzeBio: Yahoo Finance Live Apple (AAPL) is appealing a ban on US sales of its Apple Watch Series 9 and Ultra 2. The ban stems from a patent dispute over pulse oximetry technology that is used in the watches. There is also deal news, with shares of RayzeBio (RYZB) doubling after it was announced Bristol Myers Squibb (BMY) was buying the company in a $4.1 billion agreement. Also on Yahoo Finance at 4 p.m. ET, Ark Invest\u2019s Cathie Wood talks Tesla (TSLA) and the potential for a spot bitcoin ETF to be approved. Trending tickers on Yahoo Finance include Intel (INTC), Nio (NIO), and Nvidia (NVDA).Top guests on Yahoo Finance Live today include:3:05 p.m. ET - Tom Hainlin, U.S. Bank Wealth Management Senior Investment Strategist3:25 p.m. ET - Greg Martin, Managing Director of Rainmaker Securities3:50 p.m. ET - Shehzad Qazi, China Beige Book International Managing Director4:05 p.m. ET - Nick Powills, Mainland CEO, 1851 Franchise Publisher, and The Melting Pot Board Member", "Apple seeks a path to getting 2 of its best watches back on shelves during a bitter patent dispute Apple filed an emergency motion seeking court permission to begin selling two of its most popular watches again until a final decision on its broader appeal in a bitter patent dispute is decided. The company cut off sales right before the Christmas holiday and in a motion filed Tuesday, Apple said it would suffer \u201cirreparable harm\u201d if previous court orders remain for the two weeks that it said the U.S. International Trade Commission will take to respond to its appeal. The disruption will likely cost Apple about $300-400 million in holiday-season sales, estimated Wedbush Securities analyst Dan Ives.", "Bitcoin Dips Below $42,000 While Memecoin Rally Shows Signs of Stalling (Bloomberg) -- Bitcoin dropped below $42,000 for the first time in a week and the recent rally in memecoins has started to show signs of stalling. Most Read from BloombergGoldman\u2019s Painful 2023 Lesson on China Forces Rethink of Emerging MarketsS&P 500 Trades Within a Whisker of All-Time High: Markets WrapApple to Fight Watch Ban in Court After White House Declines to ActHow Were So Many Economists So Wrong About the Recession?Ethiopia Fails to Pay Coupon, Becoming Latest African DefaulterThe lar", "25 Technologies That Have Changed the World In this article, we will be analyzing the evolution of technology while covering the 25 technologies that have changed the world. If you wish to skip our detailed analysis, you can move directly to the 5 Technologies That Have Changed the World. Technology Over the Years Following the dot com bubble burst, technology successfully rebounded. [\u2026]", "South Korea\u2019s Consumers Turn Less Pessimistic as Inflation Eases (Bloomberg) -- South Korean consumers turned less pessimistic this month as inflation eased and exports improved.Most Read from BloombergS&P 500 Trades Within a Whisker of All-Time High: Ma

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 = 0.0170 (i.e., a 1.70% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0170 = 5.8797, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


BNB-USD: 60-day history, VaR(99%)=-0.0695, max drawdown threshold=10%.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=0.0056, std=0.0308, worst_day=-0.1070
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 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 = 0.0695 (i.e., a 6.95% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0695 = 1.4398, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).


ADA-USD: 60-day history, VaR(99%)=-0.0702, max drawdown threshold=10%.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0062, std=0.0357, worst_day=-0.1009
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 = 0.0702 (i.e., a 7.02% loss in the worst 1% of days).
Step 2: Fixed-fractional formula: f* = 10% / 0.0702 = 1.4243, capped at 1.0.
Maximum position size = 1.0000 (100.0% of portfolio).