XLY: 60-day return history, mean=0.0003, std=0.0124.

Question:
Asset: XLY
Daily returns (past 60 days): mean=0.0003, std=0.0124, min=-0.0279, max=0.0261
Market regime: sideways
Recent filing/news:
[SEC 10-Q NVDA 2025-11-19] nvda-20251026 0001045810 1/25 2026 Q3 FALSE 478 469 278 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure nvda:investment nvda:segment 0001045810 2025-01-27 2025-10-26 0001045810 2025-11-14 0001045810 2025-07-28 2025-10-26 0001045810 2024-07-29 2024-10-27 0001045810 2024-01-29 2024-10-27 0001045810 2025-10-26 0001045810 2025-01-26 0001045810 us-gaap:CommonStockMember 2025-07-27 0001045810 us-gaap:AdditionalPaidInCapitalMember 2025-07-27 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-07-27 0001045810 us-gaap:RetainedEarningsMember 2025-07-27 0001045810 2025-07-27 0001045810 us-gaap:RetainedEarningsMember 2025-07-28 2025-10-26 0001045810 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-07-28 2025-10-26 0001045810 us-gaap:CommonStockMember 2025-07-28 2025-10-26 0001045810 us-gaap:AdditionalPaidInCapitalMember 2025-07-28 2025-10-26 0001045810 us-gaap:CommonStockMember 2025-10-26 0001045810 us-gaap:AdditionalPaidInCapitalMember 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us-gaap:AccountsReceivableMember 2025-01-27 2025-10-26 0001045810 nvda:Cust [...TRUNCATED...] President, Operations Adoption 9/9/2025 309,840 12/31/2026 Donald Robertson Vice President and Chief Accounting Officer Adoption 9/18/2025 138,042 * 12/31/2026 Ajay Puri Executive Vice President, Worldwide Field Operations Adoption 9/19/2025 1,000,000 6/24/2026 * Includes 38,042 shares from future vests of equity awards, and the actual number of shares to be sold will be net of shares withheld by the Company for taxes. 42 Item 6. Exhibits Exhibit No.  Exhibit Description 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. * 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. 43 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 19, 2025   NVIDIA Corporation  By:    /s/ Colette M. Kress   Colette M. Kress   Executive Vice President and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer) 44

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLY. Express as a decimal (e.g., -0.02).

Answer: -0.0229

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0229 (i.e., on a bad day with 5% probability, the loss exceeds 2.29%). CVaR(95%) = -0.0255.


VLUE: 60-day return history, mean=0.0013, std=0.0089.

Question:
Asset: VLUE
Daily returns (past 60 days): mean=0.0013, std=0.0089, min=-0.0210, max=0.0281
Market regime: bull
Recent filing/news:
[SEC 10-Q CAT 2025-08-06] cat-20250630 0000018230 FALSE 12/31 2025 Q2 50 338 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure cat:entity cat:group_president cat:segment 0000018230 2025-01-01 2025-06-30 0000018230 us-gaap:CommonStockMember 2025-01-01 2025-06-30 0000018230 cat:A5.3DebenturesDueSeptember152035Member 2025-01-01 2025-06-30 0000018230 2025-06-30 0000018230 cat:MachineryEnergyTransportationMember 2025-04-01 2025-06-30 0000018230 cat:MachineryEnergyTransportationMember 2024-04-01 2024-06-30 0000018230 cat:FinancialProductsMember 2025-04-01 2025-06-30 0000018230 cat:FinancialProductsMember 2024-04-01 2024-06-30 0000018230 2025-04-01 2025-06-30 0000018230 2024-04-01 2024-06-30 0000018230 cat:AllOtherExcludingFinancialProductsMember 2025-04-01 2025-06-30 0000018230 cat:AllOtherExcludingFinancialProductsMember 2024-04-01 2024-06-30 0000018230 cat:MachineryEnergyTransportationMember 2025-01-01 2025-06-30 0000018230 cat:MachineryEnergyTransportationMember 2024-01-01 2024-06-30 0000018230 cat:FinancialProductsMember 2025-01-01 2025-06-30 0000018230 cat:FinancialProductsMember 2024-01-01 2024-06-30 0000018230 2024-01-01 2024-06-30 0000018230 cat:AllOtherExcludingFinancialProductsMember 2025-01-01 2025-06-30 0000018230 cat:AllOtherExcludingFinancialProductsMember 2024-01-01 2024-06-30 0000018230 2024-12-31 0000018230 cat:FinancialProductsMember 2025-06-30 0000018230 cat:FinancialProductsMember 2024-12-31 0000018230 cat:MachineryEnergyTransportationMember 2025-06-30 0000018230 cat:MachineryEnergyTransportationMember 2024-12-31 0000018230 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2024-03-31 0000018230 us-gaap:TreasuryStockCommonMember 2024-03-31 0000018230 us-gaap:RetainedEarningsMember 2024-03-31 0000018230 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0000018230 us-gaap:NoncontrollingInterestMember 2024-03-31 0000018230 2024-03-31 0000018230 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0000018230 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us-gaap:DesignatedAsHedgingInstrumentMember 2024-12-31 0000018230 us-gaap:ForeignExchangeContractM [...TRUNCATED...]  been sold under the plan. 79 Table of Contents Item 6. Exhibits 4.1 Form of 5.200% Senior Note due 2035 (incorporated by reference from Exhibit 4.1 to the Company’s Current Report on Form 8-K filed May 15, 2025) 4.2 Form of 5.500% Senior Note due 2055 (incorporated by reference from Exhibit 4.2 to the Company’s Current Report on Form 8-K filed May 15, 2025) 10.1 First Amended and Restated Aircraft Time Sharing Agreement, dated as of April 28, 2025. 10.2 Aircraft Time Sharing Agreement, dated as of May 7, 2025. 31.1 Certification of Chief Executive Officer of Caterpillar Inc., as required pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 Certification of Chief Financial Officer of Caterpillar Inc., as required pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32 Certification of Chief Executive Officer of Caterpillar Inc. and Chief Financial Officer of Caterpillar Inc., as required pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 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 Label Linkbase Document 101.PRE   Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive File (embedded within the Inline XBRL document and included in Exhibit 101) The agreements and other documents filed as exhibits to this report are not intended to provide factual information or other disclosure other than with respect to the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by us in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual state of affairs as of the date they were made or at any other time. 80 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.       CATERPILLAR INC.               August 6, 2025 /s/ Joseph E. Creed Chief Executive Officer   Joseph E. Creed         August 6, 2025 /s/ Andrew R.J. Bonfield Chief Financial Officer   Andrew R.J. Bonfield               August 6, 2025 /s/ Derek Owens Chief Legal Officer and General Counsel   Derek Owens             August 6, 2025 /s/ William E. Schaupp Vice President and Chief Accounting Officer   William E. Schaupp   81

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for VLUE. Express as a decimal (e.g., -0.02).

Answer: -0.0120

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0120 (i.e., on a bad day with 5% probability, the loss exceeds 1.20%). CVaR(95%) = -0.0155.


EFA: 60-day return history, mean=0.0007, std=0.0091.

Question:
Asset: EFA
Daily returns (past 60 days): mean=0.0007, std=0.0091, min=-0.0248, max=0.0236
Market regime: sideways
Recent filing/news:
[SEC 10-K PFE 2025-02-27] pfe-20241231 0000078003 2024 FY false P4Y Consolidated Statements of Operations Consolidated Statements of Operations Consolidated Statements of Operations http://fasb.org/us-gaap/2024#OtherAssetsCurrent http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#OtherAssetsCurrent http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#OtherNonoperatingIncomeExpense http://fasb.org/us-gaap/2024#OtherNonoperatingIncomeExpense http://fasb.org/us-gaap/2024#LongTermDebtNoncurrent http://fasb.org/us-gaap/2024#LongTermDebtNoncurrent http://fasb.org/us-gaap/2024#AccountsPayableCurrent http://fasb.org/us-gaap/2024#AccountsPayableCurrent 0 10 10 40 45 80 5 35 0% 10 10 20 45 70 15 35 0 5 95 100 P5Y P7Y P3Y P3Y P5Y P1Y P3Y P1Y P5Y P7Y P3Y P5Y P7Y P3Y 33 33 33 P3Y P3Y P5Y P3Y http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#OtherNonoperatingIncomeExpense iso4217:USD xbrli:shares iso4217:USD xbrli:shares pfe:segment xbrli:pure pfe:medicine iso4217:EUR iso4217:GBP pfe:employeeStockOwnershipPlan pfe:tradingDay pfe:measure pfe:period pfe:company pfe:patent pfe:Patent pfe:complaint pfe:operatingSegment pfe:facility pfe:country pfe:treatmentCourse 0000078003 2024-01-01 2024-12-31 0000078003 us-gaap:CommonStockMember 2024-01-01 2024-12-31 0000078003 pfe:NotesDue20271.000Member 2024-01-01 2024-12-31 0000078003 2024-06-30 0000078003 2025-02-20 0000078003 us-gaap:ProductMember 2024-01-01 2024-12-31 0000078003 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us-gaap:OtherCurrentLiabilitiesMember 2023-12-31 0 [...TRUNCATED...] my Extension Presentation Linkbase *101.DEF Inline XBRL Taxonomy Extension Definition 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. ITEM 16. FORM 10-K SUMMARY None. SIGNATURES Under the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, this report was signed on behalf of the Registrant by the authorized person named below. Pfizer Inc. Dated: February 27, 2025 By: /S/    MARGARET M. MADDEN Margaret M. Madden Senior Vice President and Corporate Secretary Chief Governance Counsel We, the undersigned directors and officers of Pfizer Inc., hereby severally constitute Douglas M. Lankler and Margaret M. Madden, and each of them singly, our true and lawful attorneys with full power to them and each of them to sign for us, in our names in the capacities indicated below, any and all amendments to this Annual Report on Form 10-K filed with the Securities and Exchange Commission. Under the requirements of the Securities Exchange Act of 1934, this report was signed by the following persons on behalf of the Registrant and in the capacities and on the date indicated . Pfizer Inc. 2024 Form 10-K 113 Signature Title Date /S/    ALBERT BOURLA Albert Bourla Chairman, Chief Executive Officer and Director (Principal Executive Officer) February 27, 2025 /S/    DAVID M. DENTON David M. Denton Chief Financial Officer, Executive Vice President (Principal Financial Officer) February 27, 2025 /S/    JENNIFER B. DAMICO Jennifer B. Damico Senior Vice President and Controller (Principal Accounting Officer) February 27, 2025 /S/    RONALD E. BLAYLOCK Ronald E. Blaylock Director February 27, 2025 /S/    MORTIMER J. BUCKLEY Mortimer J. Buckley Director February 27, 2025 /S/    SUSAN DESMOND-HELLMANN Susan Desmond-Hellmann Director February 27, 2025 /S/    JOSEPH J. ECHEVARRIA Joseph J. Echevarria Director February 27, 2025 /S/    SCOTT GOTTLIEB Scott Gottlieb Director February 27, 2025 /S/    HELEN H. HOBBS Helen H. Hobbs Director February 27, 2025 /S/    SUSAN HOCKFIELD Susan Hockfield Director February 27, 2025 /S/    DAN R. LITTMAN Dan R. Littman Director February 27, 2025 /S/    SHANTANU NARAYEN Shantanu Narayen Director February 27, 2025 /S/    SUZANNE NORA JOHNSON Suzanne Nora Johnson Director February 27, 2025 /S/    JAMES QUINCEY James Quincey Director February 27, 2025 /S/    JAMES C. SMITH James C. Smith Director February 27, 2025 /S/    CYRUS TARAPOREVALA Cyrus Taraporevala Director February 27, 2025 Pfizer Inc. 2024 Form 10-K 114

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for EFA. Express as a decimal (e.g., -0.02).

Answer: -0.0120

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0120 (i.e., on a bad day with 5% probability, the loss exceeds 1.20%). CVaR(95%) = -0.0213.


AVAX-USD: 60-day return history, mean=-0.0025, std=0.0427.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0025, std=0.0427, min=-0.0876, max=0.1133
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for AVAX-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0624

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0624 (i.e., on a bad day with 5% probability, the loss exceeds 6.24%). CVaR(95%) = -0.0769.


ADA-USD: 60-day return history, mean=0.0022, std=0.0367.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0022, std=0.0367, min=-0.0960, max=0.0853
Market regime: bull
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for ADA-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0496

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0496 (i.e., on a bad day with 5% probability, the loss exceeds 4.96%). CVaR(95%) = -0.0686.


BNB-USD: 60-day return history, mean=-0.0002, std=0.0311.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=-0.0002, std=0.0311, min=-0.0767, max=0.0863
Market regime: bear
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BNB-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0649

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0649 (i.e., on a bad day with 5% probability, the loss exceeds 6.49%). CVaR(95%) = -0.0695.


BIL: 60-day return history, mean=0.0002, std=0.0001.

Question:
Asset: BIL
Daily returns (past 60 days): mean=0.0002, std=0.0001, min=0.0000, max=0.0004
Market regime: bull

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BIL. Express as a decimal (e.g., -0.02).

Answer: 0.0000

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = 0.0000 (i.e., on a bad day with 5% probability, the loss exceeds 0.00%). CVaR(95%) = 0.0000.


MTUM: 60-day return history, mean=0.0004, std=0.0096.

Question:
Asset: MTUM
Daily returns (past 60 days): mean=0.0004, std=0.0096, min=-0.0240, max=0.0236
Market regime: sideways
Recent filing/news:
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us-gaap:AccountsReceivableMember 2025-01-27 2025-10-26 0001045810 nvda:Cust [...TRUNCATED...] President, Operations Adoption 9/9/2025 309,840 12/31/2026 Donald Robertson Vice President and Chief Accounting Officer Adoption 9/18/2025 138,042 * 12/31/2026 Ajay Puri Executive Vice President, Worldwide Field Operations Adoption 9/19/2025 1,000,000 6/24/2026 * Includes 38,042 shares from future vests of equity awards, and the actual number of shares to be sold will be net of shares withheld by the Company for taxes. 42 Item 6. Exhibits Exhibit No.  Exhibit Description 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. * 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. 43 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 19, 2025   NVIDIA Corporation  By:    /s/ Colette M. Kress   Colette M. Kress   Executive Vice President and Chief Financial Officer (Duly Authorized Officer and Principal Financial Officer) 44

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for MTUM. Express as a decimal (e.g., -0.02).

Answer: -0.0176

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0176 (i.e., on a bad day with 5% probability, the loss exceeds 1.76%). CVaR(95%) = -0.0226.


QQQ: 60-day return history, mean=0.0006, std=0.0124.

Question:
Asset: QQQ
Daily returns (past 60 days): mean=0.0006, std=0.0124, min=-0.0367, max=0.0268
Market regime: sideways
Recent filing/news:
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2024-07-01 2024-12-31 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2024-12-31 0000080424 us-gaap:CommonStockMember 2024-07-01 2024-12-31 0000080424 us-gaap:TreasuryStockCommonMember 2024-07-01 2024-12-31 0000080424 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2024-12-31 0000080424 us-gaap:PreferredStockMember 2024-07-01 2024-12-31 0000080424 pg:ReserveforESOPDebtRetirementMember 2024-07-01 2024-12-31 0000080424 us-gaap:CommonStockMember 2023-09-30 0000080424 us-gaap:PreferredStockMember 2023-09-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2023-09-30 0000080424 pg:ReserveforESOPDebtRetirementMember 2023-09-30 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-09-30 0000080424 us-gaap:TreasuryStockCommonMember 2023-09-30 0000080424 us-gaap:RetainedEarningsMember 2023-09-30 0000080424 us-gaap:NoncontrollingInterestMember 2023-09-30 0000080424 2023-09-30 0000080424 us-gaap:RetainedEarningsMember 2023-10-01 2023-12-31 0000080424 us-gaap:NoncontrollingInterestMember 2023-10-01 2023-12-31 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-10-01 2023-12-31 0000080424 us-gaap:CommonStockMember 2023-10-01 2023-12-31 0000080424 us-gaap:TreasuryStockCommonMember 2023-10-01 2023-12-31 0000080424 us-gaap:AdditionalPaidInCapitalMember 2023-10-01 2023-12-31 0000080424 us-gaap:PreferredStockMember 2023-10-01 2023-12-31 0000080424 us-gaap:CommonStockMember 2023-12-31 0000080424 us-gaap:PreferredStockMember 2023-12-31 0000080424 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0000080424 pg:ReserveforESOPDebtRetirementMember 2023-12-31 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0000080424 us-gaap:TreasuryStockCommonMember 2023-12-31 0000080424 us-gaap:RetainedEarningsMember 2023-12-31 0000080424 us-gaap:NoncontrollingInterestMember 2023-12-31 0000080424 2023-12-31 0000080424 us-gaap:CommonStockMember 2023-06-30 0000080424 us-gaap:PreferredStockMember 2023-06-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0000080424 pg:R [...TRUNCATED...] 7 billion in fiscal year 2025, notwithstanding any purchases under the Company's compensation and benefit plans. Purchases may be made in the open market and/or private transactions and purchases may be increased, decreased or discontinued at any time without prior notice. The share repurchases are authorized pursuant to a resolution issued by the Company's Board of Directors and are expected to be financed by a combination of operating cash flows and issuance of debt.      Item 5. Other Information During the three months ended December 31, 2024, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement" as defined in Item 408 of Regulation S-K. 30 The Procter & Gamble Company Item 6. Exhibits 3.1 Amended Articles of Incorporation (as amended by shareholders at the annual meeting on October 11, 2011 and consolidated by the Board of Directors on April 8, 2016) (Incorporated by reference to Exhibit (3-1) of the Company's Form 10-K for the year ended June 30, 2016) 3.2 Regulations (as approved by the Board of Directors on December 13, 2022, pursuant to authority granted by shareholders at the annual meeting on October 13, 2009) (Incorporated by reference to Exhibit (3-2) of the Company’s Current Report on Form 8-K filed December 13, 2022) 4.1 Indenture, dated as of September 3, 2009, between the Company and Deutsche Bank Trust Company Americas, as Trustee (Incorporated by reference to Exhibit (4-1) of the Company's Annual Report on Form 10-K for the year ended June 30, 2015) 31.1 Rule 13a-14(a)/15d-14(a) Certification – Chief Executive Officer + 31.2 Rule 13a-14(a)/15d-14(a) Certification – Chief Financial Officer + 32.1 Section 1350 Certifications – Chief Executive Officer + 32.2 Section 1350 Certifications – Chief Financial Officer + 101.SCH (1) Inline XBRL Taxonomy Extension Schema Document 101.CAL (1) Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF (1) Inline XBRL Taxonomy Definition Linkbase Document 101.LAB (1) Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE (1) Inline XBRL Taxonomy Extension Presentation Linkbase Document 104  Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) + Filed herewith (1) Pursuant to Rule 406T of Regulation S-T, this information is furnished and not filed for purposes of Sections 11 or 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections. 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 PROCTER & GAMBLE COMPANY January 22, 2025 /s/ MATTHEW W. JANZARUK Date (Matthew W. Janzaruk) Senior Vice President - Chief Accounting Officer (Principal Accounting Officer)

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for QQQ. Express as a decimal (e.g., -0.02).

Answer: -0.0242

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0242 (i.e., on a bad day with 5% probability, the loss exceeds 2.42%). CVaR(95%) = -0.0306.


EWJ: 60-day return history, mean=0.0009, std=0.0099.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=0.0009, std=0.0099, min=-0.0325, max=0.0222
Market regime: sideways
Recent filing/news:
[SEC 10-Q CVX 2025-11-06] cvx-20250930 0000093410 12/31 2025 Q3 false xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure cvx:segment cvx:lawsuit cvx:state cvx:tribe cvx:parish 0000093410 2025-01-01 2025-09-30 0000093410 2025-09-30 0000093410 2025-07-01 2025-09-30 0000093410 2024-07-01 2024-09-30 0000093410 2024-01-01 2024-09-30 0000093410 2024-12-31 0000093410 2023-12-31 0000093410 2024-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2024-06-30 0000093410 us-gaap:RetainedEarningsMember 2024-06-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0000093410 us-gaap:TreasuryStockCommonMember 2024-06-30 0000093410 us-gaap:ParentMember 2024-06-30 0000093410 us-gaap:NoncontrollingInterestMember 2024-06-30 0000093410 2024-06-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2024-07-01 2024-09-30 0000093410 us-gaap:ParentMember 2024-07-01 2024-09-30 0000093410 us-gaap:RetainedEarningsMember 2024-07-01 2024-09-30 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us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2025-07-01 2025-09-30 0000093410 us-gaap:ParentMember 2025-07-01 2025-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2025-07-01 2025-09-30 0000093410 us-gaap:NoncontrollingInterestMember 2025-07-01 2025-09-30 0000093410 us-gaap:RetainedEarningsMember 2025-07-01 2025-09-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-07-01 2025-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2025-09-30 0000093410 us-gaap:RetainedEarningsMember 2025-09-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2025-09-30 0000093410 us-gaap:ParentMember 2025-09-30 0000093410 us-gaap:NoncontrollingInterestMember 2025-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2023-12-31 0000093410 us-gaap:RetainedEarningsMember 2023-12-31 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0000093410 us-gaap:TreasuryStockCommonMember 2023-12-31 0000093410 us-gaap:ParentMember 2023-12-31 0000093410 us-gaap:NoncontrollingInterestMember 2023-12-31 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2024-01-01 2024-09-30 0000093410 us-gaap:ParentMember 2024-01-01 2024-09-30 0000093410 us-gaap:RetainedEarningsMember 2024-01-01 2024-09-30 0000093410 us-gaap:NoncontrollingInterestMember 2024-01-01 2024-09-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2024-01-01 2024-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2024-12-31 0000093410 us-gaap:RetainedEarningsMember 2024-12-31 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0000093410 us-gaap:TreasuryStockCommonMember 2024-12-31 0000093410 us-gaap:ParentMember 2024-12-31 0000093410 us-gaap:NoncontrollingInterestMember 2024-12-31 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2025-01-01 2025-09-30 0000093410 us-gaap:ParentMember 2025-01-01 2025-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2025-01-01 2025-09-30 0000093410 us-gaap:NoncontrollingInterestMember 2025-01-01 2025-09-30 0000093410 us-gaap:RetainedEarningsMember 2025-01-01 2025-09-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-09-30 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2023-12-31 0000093410 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2023-12-31 0000093410 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2023-12-31 0000093410 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2023-12-31 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2024-01-01 2024-09-30 0000093410 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-01-01 2024-09-30 0000093410 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-01 2024-09-30 0000093410 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2024-01-01 2024-09-30 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2024-09-30 0000093410 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-09-30 0000093410 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-09-30 0000093410 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2024-09-30 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2024-12-31 0000093410 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2024-12-31 0000093410 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-12-31 0000093410 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2024-12-31 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2025-01-01 2025-09-30 0000093410 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2025-01-01 2025-09-30 0000093410 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2025-01-01 2025-09-30 0000093410 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2025-01-01 2025-09-30 0000093410 us-gaap:AccumulatedTranslationAdjustmentMember 2025-09-30 0000093410 [...TRUNCATED...] 160; $154.38 16,620,000   (1) Includes common shares repurchased from participants in the company’s executive compensation plans for personal income tax withholdings. (2) 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 During the three months ended September 30, 2025, none of our directors or executive officers adopted, modified or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, as such terms are defined in Item 408 of Regulation S-K. 47 Table of Contents Item 6. Exhibits Exhibit Index Exhibit Number Description 4.1 Fourth Supplemental Indenture, dated as of August 13, 2025, among Chevron U.S.A. Inc., Chevron Corporation, as guarantor, and Deutsche Bank Trust Company Americas, as trustee, filed as Exhibit 4. 2 to Chevron Corporation’s Current Report on Form 8-K filed August 13, 2025, and incorporated herein by reference . 4.2 Forms of 3.950% Notes Due 2027, 4.050% Notes Due 2028, Floating Rate Notes Due 2028-B, 4.300% Notes Due 2030, Floating Rate Notes due 2030, 4.500% Notes Due 2032 and 4.850% Notes Due 2035, contained in Exhibit 4.2 to Chevron Corporation’s Current Report on Form 8-K filed August 13, 2025, and incorporated herein by reference . 10.1+* Aircraft Time-Sharing Agreement, dated as of February 24, 2015, between Hess Corporation and John B. Hess. 10.2* Transition Services Agreement, dated as of July 14, 2025, between Chevron U.S.A. Inc. and HFO Holdings LLC . 10.3* Amendment One to Transition Services Agreement, dated as of August 27, 2025, between Chevron U.S.A. Inc. and HFO Holdings LLC . 10.4* Membership Interest Purchase Agreement, dated as of September 10, 2025, between Hess Corporation and JBH Ventures, LLC . 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. 48 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 6, 2025 49

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for EWJ. Express as a decimal (e.g., -0.02).

Answer: -0.0122

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0122 (i.e., on a bad day with 5% probability, the loss exceeds 1.22%). CVaR(95%) = -0.0204.


VNQI: 60-day return history, mean=-0.0010, std=0.0084.

Question:
Asset: VNQI
Daily returns (past 60 days): mean=-0.0010, std=0.0084, min=-0.0241, max=0.0161
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for VNQI. Express as a decimal (e.g., -0.02).

Answer: -0.0153

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0153 (i.e., on a bad day with 5% probability, the loss exceeds 1.53%). CVaR(95%) = -0.0201.


XLRE: 60-day return history, mean=-0.0007, std=0.0135.

Question:
Asset: XLRE
Daily returns (past 60 days): mean=-0.0007, std=0.0135, min=-0.0375, max=0.0314
Market regime: bear
Recent filing/news:
[Kaggle 2025-04-15] Will PRGS' AI-Powered Upgrades to Sitefinity Drive the Stock Upward? Progress Software PRGS unveiled AI-powered upgrades to its Sitefinity content management platform, aimed at accelerating content creation and enhancing digital customer engagement. The new Sitefinity 15.3 release integrates embedded Generative AI (Gen AI) services, enabling marketers to summarize content, personalize messages, and generate tags within the platform. PRGS features AI-enhanced media search, allowing users to find visuals using natural language, and built-in Azure AI translation for efficient multilingual content management. Sitefinity now offers in-line AI-based content optimization and advanced BI system integration, empowering organizations to streamline workflows, refine digital assets, and apply custom AI models for deeper insights and improved marketing performance. PRGS’ Strong Portfolio Boosts Prospects PRGS shares have plunged 11.8% year to date, outperforming the broader Zacks Computer & Technology sector’s decline of 14.5%. However, since reporting first-quarter fiscal 2025 earnings results on March 31, Progress Software shares jumped 11.5%. Progress Software Corporation price-consensus-chart | Progress Software Corporation Quote In the fiscal first quarter, annualized recurring revenues (ARR) of $836 million surged 48% year over year on a constant currency basis. Growth was driven by strong performance in ShareFile, alongside consistent contributions from core products, including OpenEdge, Sitefinity, DevTools, Kemp LoadMaster, and WhatsUp Gold. Revenues for the reported quarter totaled $238 million, landing at the high end of guidance and up 29% year over year. AI remains a core strategic focus. Progress Software is embedding AI across its product portfolio to streamline workflows, automate experiences, and enhance customer value. Early this month, Progress Software announced purpose-built AI in ShareFile to enhance efficiency and strengthen data security, driving existing document-centric workflows. AI Arms Race: PRGS Faces Stiff Competition Progress Software’s AI push is aligned with broader industry trends, as peers aggressively expand their agentic AI ecosystems. PRGS has also outperformed its industry peers that are accelerating AI adoption, including Oracle ORCL and Adobe ADBE. Year to date, shares of Oracle and Adobe have plunged 19.5% and 21.3%, respectively. Oracle recently deepened its strategic collaboration with NVIDIA to accelerate agentic AI deployment. Through native integration of NVIDIA AI Enterprise software and NIM microservices into Oracle Cloud Infrastructure (“OCI”), users can access over 160 AI tools and deploy advanced reasoning models, such as Llama Nemotron, directly from the OCI Console. This initiative positions Oracle as a full-stack AI provider, offering flexible, scalable infrastructure for enterprise-grade AI workloads. Adobe, in partnership with Microsoft MSFT, is enhancing AI accessibility through Microsoft 365 Copilot.

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XLRE. Express as a decimal (e.g., -0.02).

Answer: -0.0252

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0252 (i.e., on a bad day with 5% probability, the loss exceeds 2.52%). CVaR(95%) = -0.0319.


VTI: 60-day return history, mean=0.0004, std=0.0083.

Question:
Asset: VTI
Daily returns (past 60 days): mean=0.0004, std=0.0083, min=-0.0314, max=0.0264
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

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for VTI. Express as a decimal (e.g., -0.02).

Answer: -0.0112

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0112 (i.e., on a bad day with 5% probability, the loss exceeds 1.12%). CVaR(95%) = -0.0210.


EMB: 60-day return history, mean=0.0002, std=0.0041.

Question:
Asset: EMB
Daily returns (past 60 days): mean=0.0002, std=0.0041, min=-0.0150, max=0.0115
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for EMB. Express as a decimal (e.g., -0.02).

Answer: -0.0051

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0051 (i.e., on a bad day with 5% probability, the loss exceeds 0.51%). CVaR(95%) = -0.0085.


SOL-USD: 60-day return history, mean=-0.0002, std=0.0457.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=-0.0002, std=0.0457, min=-0.0771, max=0.1924
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for SOL-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0595

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0595 (i.e., on a bad day with 5% probability, the loss exceeds 5.95%). CVaR(95%) = -0.0720.


MORT: 60-day return history, mean=0.0008, std=0.0104.

Question:
Asset: MORT
Daily returns (past 60 days): mean=0.0008, std=0.0104, min=-0.0330, max=0.0203
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for MORT. Express as a decimal (e.g., -0.02).

Answer: -0.0132

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0132 (i.e., on a bad day with 5% probability, the loss exceeds 1.32%). CVaR(95%) = -0.0229.


BNB-USD: 60-day return history, mean=0.0041, std=0.0399.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=0.0041, std=0.0399, min=-0.1186, max=0.1459
Market regime: bull
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BNB-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0638

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0638 (i.e., on a bad day with 5% probability, the loss exceeds 6.38%). CVaR(95%) = -0.0850.


SOL-USD: 60-day return history, mean=0.0008, std=0.0470.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=0.0008, std=0.0470, min=-0.1463, max=0.1130
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for SOL-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0691

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0691 (i.e., on a bad day with 5% probability, the loss exceeds 6.91%). CVaR(95%) = -0.1093.


FXI: 60-day return history, mean=0.0003, std=0.0181.

Question:
Asset: FXI
Daily returns (past 60 days): mean=0.0003, std=0.0181, min=-0.0438, max=0.0476
Market regime: sideways
Recent filing/news:
[Kaggle 2025-06-03] ["Nvidia\u2019s $1 Trillion Rally Has Traders Primed to Ramp Back Up (Bloomberg) -- Nvidia Corp. shares have staged a $1 trillion rebound in two months \u2014 and investors are betting the rally has further to go as fears about the chipmaker give way to optimism. Most Read from Bloomberg Where the Wild Children\u2019s Museums Are Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry At London\u2019s New Design Museum, Visitors Get Hands-On Access LA City Council Passes Budget That Trims Police, Fire Spending The Global Struggle to Build Safer Cars Last week\u2019s earnings report assuaged some key investor concerns: particularly whether US restrictions on the sales of advanced semiconductors in China would derail Nvidia\u2019s rapid revenue growth as well as the outlook for artificial intelligence spending, and the firm\u2019s ability to expand supply of its newest Blackwell chips. \u201cThose questions have been answered in the positive for Nvidia,\u201d said Thomas Martin, senior portfolio manager at Globalt Investments. \u201cIt\u2019s time to ramp back up your ownership.\u201d After soaring for two and a half years amid insatiable demand for its chips used in AI computing, Nvidia shares tumbled in the first few months of 2025 on concerns about President Donald Trump\u2019s trade policies and a potential pullback in spending by its biggest customers. Nvidia rose 0.9% on Tuesday, and since an April low, the stock has rallied more than 45%, pushing Nvidia\u2019s market value to $3.4 trillion. That\u2019s just shy of Microsoft Corp., the world\u2019s most valuable company. Nvidia shares remain 7% below a record high in January. Despite the big advance, Nvidia trades at roughly 29 times profits projected over the next 12 months, well below the average over the past decade at 34 times. By contrast, the Nasdaq 100 is priced at 26 times despite Wall Street estimates calling for revenue growth this year that\u2019s a fraction of Nvidia\u2019s. The stock\u2019s PEG ratio \u2014 a measure of valuation relative to growth \u2014 is under 0.9, by far the lowest among the Magnificent Seven, which also includes Apple Inc., Amazon.com Inc., Alphabet Inc., Tesla Inc. and Meta Platforms Inc. Of course, Nvidia is still exposed to US tariffs given its chips are manufactured overseas and could be hurt by a deterioration in trade relations with China, a country that accounted for 13% of revenue in the first quarter. However, purchase agreements with governments in the Middle East are seen as offsetting some lost sales and Nvidia\u2019s product pipeline is expected to keep competitors at bay. Microsoft, Meta, Alphabet, and Amazon, which together comprise more than 40% of Nvidia\u2019s revenue, continue to invest aggressively in AI infrastructure. Capital expenditures for the four companies are projected to reach roughly $330 billion in 2026, up 6% from estimated spending this year, according to the average of analyst estimates compiled by Bloomberg. Amazo

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for FXI. Express as a decimal (e.g., -0.02).

Answer: -0.0272

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0272 (i.e., on a bad day with 5% probability, the loss exceeds 2.72%). CVaR(95%) = -0.0389.


BTC-USD: 60-day return history, mean=0.0015, std=0.0245.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0015, std=0.0245, min=-0.0575, max=0.0472
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BTC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0382

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0382 (i.e., on a bad day with 5% probability, the loss exceeds 3.82%). CVaR(95%) = -0.0527.


FXI: 60-day return history, mean=0.0014, std=0.0115.

Question:
Asset: FXI
Daily returns (past 60 days): mean=0.0014, std=0.0115, min=-0.0184, max=0.0342
Market regime: bull
Recent filing/news:
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The Firm did not charge a fee for these transactions. The payments were for the renewal of travel documentation for the client’s three minor children and were therefore exempt transactions pursuant to 31 C.F.R. 560.219(d). The Firm does not intend to engage in such transactions in the future. 202 Item 6.    Exhibits. Exhibit No. Description of Exhibit 15 Letter re: Unaudited Interim Financial Information. (a) 22 Subsidiary Guarantors and Issuers of Guaranteed Securities . (a) 31.1 Certification. (a) 31.2 Certification. (a) 32 Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (b) 101.INS The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document. (c) 101.SCH XBRL Taxonomy Extension Schema Document. (a) 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document. (a) 101.DEF XBRL Taxonomy Extension Definition Linkbase Document. (a) 101.LAB XBRL Taxonomy Extension Label Linkbase Document. (a) 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document. (a) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). (a) Filed herewith. (b) Furnished herewith. This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that Section. Such exhibit shall not be deemed incorporated into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934. (c) Pursuant to Rule 405 of Regulation S-T, includes the following financial information included in the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, formatted in XBRL (eXtensible Business Reporting Language) interactive data files: (i) the Consolidated statements of income (unaudited) for the three and six months ended June 30, 2025 and 2024, (ii) the Consolidated statements of comprehensive income (unaudited) for the three and six months ended June 30, 2025 and 2024, (iii) the Consolidated balance sheets (unaudited) as of June 30, 2025 and December 31, 2024, (iv) the Consolidated statements of changes in stockholders’ equity (unaudited) for the three and six months ended June 30, 2025 and 2024, (v) the Consolidated statements of cash flows (unaudited) for the six months ended June 30, 2025 and 2024, and (vi) the Notes to Consolidated Financial Statements (unaudited). 203 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. JPMorgan Chase & Co. (Registrant) By: /s/ Elena Korablina Elena Korablina Managing Director and Firmwide Controller (Principal Accounting Officer) Date: August 5, 2025 204

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for FXI. Express as a decimal (e.g., -0.02).

Answer: -0.0156

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0156 (i.e., on a bad day with 5% probability, the loss exceeds 1.56%). CVaR(95%) = -0.0175.


BTC-USD: 60-day return history, mean=0.0000, std=0.0162.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0000, std=0.0162, min=-0.0404, max=0.0419
Market regime: bull
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BTC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0294

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0294 (i.e., on a bad day with 5% probability, the loss exceeds 2.94%). CVaR(95%) = -0.0355.


ETH-USD: 60-day return history, mean=0.0021, std=0.0393.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=0.0021, std=0.0393, min=-0.0851, max=0.1440
Market regime: bull
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for ETH-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0558

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0558 (i.e., on a bad day with 5% probability, the loss exceeds 5.58%). CVaR(95%) = -0.0700.


DOT-USD: 60-day return history, mean=-0.0029, std=0.0387.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0029, std=0.0387, min=-0.1391, max=0.0793
Market regime: bear
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for DOT-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0640

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0640 (i.e., on a bad day with 5% probability, the loss exceeds 6.40%). CVaR(95%) = -0.0950.


XRP-USD: 60-day return history, mean=0.0022, std=0.0411.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=0.0022, std=0.0411, min=-0.1053, max=0.1433
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XRP-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0544

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0544 (i.e., on a bad day with 5% probability, the loss exceeds 5.44%). CVaR(95%) = -0.0724.


BTC-USD: 60-day return history, mean=-0.0022, std=0.0208.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=-0.0022, std=0.0208, min=-0.0698, max=0.0403
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for BTC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0370

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0370 (i.e., on a bad day with 5% probability, the loss exceeds 3.70%). CVaR(95%) = -0.0514.


DBA: 60-day return history, mean=-0.0000, std=0.0088.

Question:
Asset: DBA
Daily returns (past 60 days): mean=-0.0000, std=0.0088, min=-0.0189, max=0.0162
Market regime: sideways

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for DBA. Express as a decimal (e.g., -0.02).

Answer: -0.0153

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0153 (i.e., on a bad day with 5% probability, the loss exceeds 1.53%). CVaR(95%) = -0.0178.


QQQ: 60-day return history, mean=0.0035, std=0.0091.

Question:
Asset: QQQ
Daily returns (past 60 days): mean=0.0035, std=0.0091, min=-0.0140, max=0.0340
Market regime: bull
Recent filing/news:
[Kaggle 2025-07-21] ["Crypto Whales Drive $4 Trillion Market Revival on Policy Optimism (Bloomberg) -- A relentless wave of optimism is sweeping the nearly $4 trillion crypto market, driven by a frenzy of Washington policy moves accelerating its assimilation into regulated finance. The passage of a landmark stablecoin law and broader legislative momentum have injected new legitimacy into the sector, lifting prices and rekindling risk appetite across digital assets. Most Read from Bloomberg Why the Federal Reserve\u2019s Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom How San Jose\u2019s Mayor Is Working to Build an AI Capital Signs of retail re-engagement are resurfacing. Coinbase\u2019s app surged to fifth place in Apple\u2019s Finance category, up from 25th a month earlier, according to data tracker Sensor Tower. Google searches for \u201cBitcoin\u201d are climbing. Telegram groups and Discord forums saw spirited activity during Washington\u2019s \u201cCrypto Week,\u201d a highly choreographed policy blitz that culminated in President Donald Trump signing the first major US stablecoin framework into law. That spike in visibility, however, belies a more complex picture of who\u2019s actually driving flows. While consumer interest is returning, the rally\u2019s architecture is distinctly institutional. Large private holders \u2014 those controlling 10,000 Bitcoin or more \u2014 acquired roughly 47,000 tokens ahead of Bitcoin\u2019s all-time high of about $123,000 on July 14, 10x Research data show. Since then, these substantial holders have begun to unwind positions, contributing to a pullback to around $118,600. Much of the re-engagement started about a month ago, after stablecoin issuer Circle Internet Group Inc.\u2019s blockbuster June initial public offering, according to Chris Rhine, head of liquid active strategies at Galaxy Digital. \u201cIt\u2019s encouraged all investors to get re-engaged\u2014 small retail to large institutions,\u201d Rhine said. \u201cWe have institutions calling us now, asking how to position around stablecoins. The sense of urgency is there.\u201d That urgency, however, is not translating into core retail metrics yet \u2014 at least as it comes to quarterly results. Coinbase Global Inc., which reports on July 31, likely saw its second-quarter trading volumes fall 44% from the previous quarter and 3% year-on-year, according to Oppenheimer & Co. Wallet app downloads for the exchange\u2019s recently re-named other main app, Coinbase Wallet, dropped 51% quarter-on-quarter, with similar declines observed across other major exchanges, according to Sensor Tower. Much of the speculative attention once directed at tokens has shifted elsewhere. Analysts note retail investors have pivoted towards AI-linked equities and crypto-adjacent names such as Strategy, where volatility and narrative appeal remain high. Some retail participants have exited the market entirely, citing macroeconomic concerns and \u2

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for QQQ. Express as a decimal (e.g., -0.02).

Answer: -0.0094

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0094 (i.e., on a bad day with 5% probability, the loss exceeds 0.94%). CVaR(95%) = -0.0121.


XRP-USD: 60-day return history, mean=-0.0026, std=0.0409.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=-0.0026, std=0.0409, min=-0.1591, max=0.0878
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Using the historical simulation method, compute the 1-day VaR at 95% confidence level for XRP-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0535

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0535 (i.e., on a bad day with 5% probability, the loss exceeds 5.35%). CVaR(95%) = -0.1011.