DBB over past 60 days: cumulative return +7.9%, annualized vol 14.0%. Market regime: sideways.

Question:
Asset: DBB
Historical prices (past 60 trading days): start=20.40, end=22.01, cumulative_return=+7.9%, annualized_volatility=14.0%
Macro context: {'fed_funds_rate': 3.64, 'cpi_yoy': 326.031, 'unemployment': 4.4, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.68, 't10y3m_spread': 0.46, 'breakeven_10y': 2.24, 'hy_oas': 2.84, 'ig_oas': 0.79, 'ted_spread': 0.09, 'mortgage_30y': 6.18, 'vix': 13.470000267028809}
Market regime: sideways

Predict whether the return of DBB over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for DBB starting 2025-12-26 was +0.00%, which classifies as 'flat'.


XLF over past 60 days: cumulative return +3.7%, annualized vol 13.9%. Market regime: bull.

Question:
Asset: XLF
Historical prices (past 60 trading days): start=50.79, end=52.65, cumulative_return=+3.7%, annualized_volatility=13.9%
Macro context: {'fed_funds_rate': 4.11, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.54, 't10y3m_spread': 0.09, 'breakeven_10y': 2.29, 'hy_oas': 2.88, 'ig_oas': 0.77, 'ted_spread': 0.09, 'mortgage_30y': 6.19, 'vix': 16.3700008392334}
Market regime: bull
Recent filing/news:
[SEC 10-Q PG 2025-10-24] pg-20250930 0000080424 6/30 2026 Q1 false http://fasb.org/us-gaap/2025#OtherAssetsNoncurrent http://fasb.org/us-gaap/2025#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2025#OtherAssetsNoncurrent http://fasb.org/us-gaap/2025#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2025#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2025#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2025#AccountsPayableCurrent http://fasb.org/us-gaap/2025#AccountsPayableCurrent xbrli:shares iso4217:USD iso4217:USD xbrli:shares pg:segment xbrli:pure pg:country pg:taxable_jurisdiction pg:audit pg:employee 0000080424 2025-07-01 2025-09-30 0000080424 us-gaap:CommonStockMember 2025-07-01 2025-09-30 0000080424 pg:A0.110NotesDue2026Member 2025-07-01 2025-09-30 0000080424 pg:A3.250EURNotesDue2026Member 2025-07-01 2025-09-30 0000080424 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2025-09-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2025-09-30 0000080424 pg:ReserveforESOPDebtRetirementMember 2025-09-30 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-09-30 0000080424 us-gaap:TreasuryStockCommonMember 2025-09-30 0000080424 us-gaap:RetainedEarningsMember 2025-09-30 0000080424 us-gaap:NoncontrollingInterestMember 2025-09-30 0000080424 us-gaap:CommonStockMember 2024-06-30 0000080424 us-gaap:PreferredStockMember 2024-06-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0000080424 pg:ReserveforESOPDebtRetirementMember 2024-06-30 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0000080424 us-gaap:TreasuryStockCommonMember 2024-06-30 0000080424 us-gaap:RetainedEarningsMember 2024-06-30 0000080424 us-gaap:NoncontrollingInterestMember 2024-06-30 0000080424 2024-06-30 0000080424 us-gaap:RetainedEarningsMember 2024-07-01 2024-09-30 0000080424 us-gaap:NoncontrollingInterestMember 2024-07-01 2024-09-30 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2024-09-30 0000080424 us-gaap:CommonStockMember 2024-07-01 2024-09-30 0000080424 us-gaap:TreasuryStockCommonMember 2024-07-01 2024-09-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2024-09-30 0000080424 us-gaap:PreferredStockMember 2024-07-01 2024-09-30 0000080424 pg:ReserveforESOPDebtRetirementMember 2024-07-01 2024-09-30 0000080424 us-gaap:CommonStockMember 2024-09-30 0000080424 us-gaap:PreferredStockMember 2024-09-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2024-09-30 0000080424 pg:ReserveforESOPDebtRetirementMember 2024-09-30 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-09-30 0000080424 us-gaap:TreasuryStockCommonMember 2024-09-30 0000080424 us-gaap:RetainedEarningsMember 2024-09-30 0000080424 us-gaap:NoncontrollingInterestMember 2024-09-30 0000080424 2024-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:FabricCareMember us-gaap:SalesRevenueNetMember pg:FabricHomeCareSegmentMember 2025-07-01 2025-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:FabricCareMember us-gaap:SalesRevenueNetMember pg:FabricHomeCareSegmentMember 2024-07-01 2024-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:HomeCareMember us-gaap:SalesRevenueNetMember pg:FabricHomeCareSegmentMember 2025-07-01 2025-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:HomeCareMember us-gaap:SalesRevenueNetMember pg:FabricHomeCareSegmentMember 2024-07-01 2024-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:HairCareMember us-gaap:SalesRevenueNetMember pg:BeautySegmentMember 2025-07-01 2025-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:HairCareMember us-gaap:SalesRevenueNetMember pg:BeautySegmentMember 2024-07-01 2024-09-30 0000080424 us-gaap:OperatingSegmentsMember us-gaap:ProductConcentrationRiskMember pg:Baby [...TRUNCATED...] ectors 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) 10.1 The Procter & Gamble Company 2025 Stock and Incentive Compensation Plan *+ 10.2 Short-Term Achievement Reward Program *+ 10.3 Performance Stock Program Summary *+ 10.4 Long-Term Incentive Program Summary *+ 10.5 Regulations of the Compensation and Leadership Development Committee for The Procter & Gamble 2025 Stock and incentive Compensation Plan, The Procter & Gamble 2019 Stock and Incentive Compensation Plan and The Procter & Gamble 2014 Stock and Incentive Compensation Plan. *+ 10.6 Retirement Plan Restoration Program Summary *+ 10.7 Form of STAR Stock Option Award Agreement *+ 10.8 Form of Director Annual RSU Award Agreement *+ 10.9 Form of Director Annual RSU Award Agreement (Deferred) *+ 10.10 Form of Director RSU Award Agreement (Quarterly Fees) *+ 10.11 Form of PSU Award Agreement *+ 10.12 Form of Deferred PSU Award Agreement *+ 10.13 Form of LTIP RSU Award Agreement *+ 10.14 Form of LTIP Stock Option Award Agreement *+ 10.15 Form of Special RSU Award Agreement *+ 10.16 Form of Retirement Restoration Plan RSU Award Agreement *+ 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) The Procter & Gamble Company 27 * Compensatory plan or arrangement + 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 October 24, 2025 /s/ MATTHEW W. JANZARUK Date (Matthew W. Janzaruk) Senior Vice President - Chief Accounting Officer (Principal Accounting Officer)

Predict whether the return of XLF over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for XLF starting 2025-10-27 was -1.48%, which classifies as 'negative'.


DOT-USD over past 60 days: cumulative return +0.0%, annualized vol 88.2%. Market regime: sideways.

Question:
Asset: DOT-USD
Historical prices (past 60 trading days): start=3.54, end=3.54, cumulative_return=+0.0%, annualized_volatility=88.2%
Macro context: {'fed_funds_rate': 3.89, 'cpi_yoy': 326.031, 'unemployment': 4.4, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.6, 't10y3m_spread': 0.44, 'breakeven_10y': 2.26, 'hy_oas': 2.89, 'ig_oas': 0.78, 'ted_spread': 0.09, 'mortgage_30y': 6.19, 'vix': 16.65999984741211}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of DOT-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for DOT-USD starting 2025-12-09 was +0.00%, which classifies as 'flat'.


HAUZ over past 60 days: cumulative return +8.1%, annualized vol 11.5%. Market regime: bull.

Question:
Asset: HAUZ
Historical prices (past 60 trading days): start=20.25, end=21.89, cumulative_return=+8.1%, annualized_volatility=11.5%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 322.169, 'unemployment': 4.3, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.55, 't10y3m_spread': 0.08, 'breakeven_10y': 2.41, 'hy_oas': 2.95, 'ig_oas': 0.81, 'ted_spread': 0.09, 'mortgage_30y': 6.72, 'vix': 17.3799991607666}
Market regime: bull

Predict whether the return of HAUZ over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for HAUZ starting 2025-07-16 was +4.09%, which classifies as 'positive'.


QUAL over past 60 days: cumulative return -10.7%, annualized vol 21.1%. Market regime: bear.

Question:
Asset: QUAL
Historical prices (past 60 trading days): start=181.50, end=162.07, cumulative_return=-10.7%, annualized_volatility=21.1%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.59, 't10y3m_spread': 0.07, 'breakeven_10y': 2.29, 'hy_oas': 3.75, 'ig_oas': 1.08, 'ted_spread': 0.09, 'mortgage_30y': 6.83, 'vix': 28.450000762939453}
Market regime: bear
Recent filing/news:
[SEC 10-Q BA 2025-04-23] ba-20250331 FALSE 2025 Q1 0000012927 --12-31 http://fasb.org/us-gaap/2024#OtherAssetsCurrent http://fasb.org/us-gaap/2024#OtherAssetsCurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent 155 151 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure ba:extension_period ba:aircraft ba:tanker ba:lot ba:simulator ba:segment 0000012927 2025-01-01 2025-03-31 0000012927 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0000012927 ba:DepositarySharesMember 2025-01-01 2025-03-31 0000012927 2025-04-16 0000012927 us-gaap:ProductMember 2025-01-01 2025-03-31 0000012927 us-gaap:ProductMember 2024-01-01 2024-03-31 0000012927 us-gaap:ServiceMember 2025-01-01 2025-03-31 0000012927 us-gaap:ServiceMember 2024-01-01 2024-03-31 0000012927 2024-01-01 2024-03-31 0000012927 2025-03-31 0000012927 2024-12-31 0000012927 us-gaap:ConvertiblePreferredStockMember 2024-01-01 2024-12-31 0000012927 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us-gaap:EmployeeStockOptionMember ba:AntidilutiveOrPerformanceConditionNotMetMember 2025-01-01 2025-03-31 0000012927 us-gaap:Employee [...TRUNCATED...] 160;Yet be Purchased Under the Plans or Programs 1/1/2025 thru 1/31/2025 33,204  $171.87  2/1/2025 thru 2/28/2025 46,784  183.15  3/1/2025 thru 3/31/2025 842  158.96  Total 80,830  $178.26  (1) A total of 80,830 shares were transferred to us from employees in satisfaction of minimum tax withholding obligations associated with the vesting of restricted stock units during the period. We did not purchase any shares of our common stock in the open market pursuant to a repurchase program. Item 3. Defaults Upon Senior Securities Not applicable. Item 4. Mine Safety Disclosures Not applicable. 51 Table of Contents Item 5. Other Information During the three months ended March 31, 2025, none of our directors or officers adopted , modified or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” as such terms are defined under Item 408 of Regulation S-K. 52 Table of Contents Item 6. Exhibits 10.1 Form of U.S. Notice of Terms of Long-Term Incentive Non-Qualified Premium-Priced Stock Option* 10.2 Form of Non-U.S. Notice of Terms of Long-Term Incentive Non-Qualified Premium-Priced Stock Option* 10.3 Form of U.S. Notice of Terms of Long-Term Incentive Restricted Stock Units* 10.4 Form of Non-U.S. Notice of Terms of Long-Term Incentive Restricted Stock Units* 10.5 Form of U.S. Notice of Terms of Supplemental Restricted Stock Units* 15 Letter from Independent Registered Public Accounting Firm regarding unaudited interim financial information 31.1 Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32.1 Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 32.2 Certification of Chief Financial Officer 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 Data File (formatted as inline XBRL and contained in Exhibit 101) * Management contract or compensatory plan 53 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. THE BOEING COMPANY (Registrant) April 23, 2025 /s/ Michael J. Cleary (Date) Michael J. Cleary Senior Vice President and Controller 54

Predict whether the return of QUAL over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for QUAL starting 2025-04-24 was +4.31%, which classifies as 'positive'.


SCHP over past 60 days: cumulative return +2.1%, annualized vol 4.6%. Market regime: sideways.

Question:
Asset: SCHP
Historical prices (past 60 trading days): start=25.35, end=25.90, cumulative_return=+2.1%, annualized_volatility=4.6%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 322.169, 'unemployment': 4.3, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.49, 't10y3m_spread': -0.07, 'breakeven_10y': 2.34, 'hy_oas': 2.92, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.72, 'vix': 15.779999732971191}
Market regime: sideways

Predict whether the return of SCHP over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for SCHP starting 2025-07-11 was +1.20%, which classifies as 'positive'.


XRP-USD over past 60 days: cumulative return -14.9%, annualized vol 105.9%. Market regime: bear.

Question:
Asset: XRP-USD
Historical prices (past 60 trading days): start=2.44, end=2.08, cumulative_return=-14.9%, annualized_volatility=105.9%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.53, 't10y3m_spread': 0.0, 'breakeven_10y': 2.23, 'hy_oas': 4.02, 'ig_oas': 1.11, 'ted_spread': 0.09, 'mortgage_30y': 6.83, 'vix': 29.64999961853028}
Market regime: bear
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of XRP-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for XRP-USD starting 2025-04-21 was +16.98%, which classifies as 'positive'.


XLE over past 60 days: cumulative return -7.3%, annualized vol 29.5%. Market regime: bear.

Question:
Asset: XLE
Historical prices (past 60 trading days): start=43.12, end=39.99, cumulative_return=-7.3%, annualized_volatility=29.5%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.302, 'unemployment': 4.2, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.55, 't10y3m_spread': 0.0, 'breakeven_10y': 2.3, 'hy_oas': 3.73, 'ig_oas': 1.06, 'ted_spread': 0.09, 'mortgage_30y': 6.81, 'vix': 26.46999931335449}
Market regime: bear
Recent filing/news:
[SEC 10-Q PG 2025-04-24] pg-20250331 0000080424 6/30 2025 Q3 false http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent http://fasb.org/us-gaap/2024#PrepaidExpenseAndOtherAssetsCurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2024#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2024#AccountsPayableCurrent http://fasb.org/us-gaap/2024#AccountsPayableCurrent xbrli:shares iso4217:USD iso4217:USD xbrli:shares pg:segment xbrli:pure pg:country pg:taxable_jurisdiction pg:audit 0000080424 2024-07-01 2025-03-31 0000080424 us-gaap:CommonStockMember 2024-07-01 2025-03-31 0000080424 pg:A1.375NotesDue2025Member 2024-07-01 2025-03-31 0000080424 pg:A0.110NotesDue2026Member 2024-07-01 2025-03-31 0000080424 pg:A3.250EURNotesDue2026Member 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pg:ReserveforESOPDebtRetirementMember 2025-01-01 2025-03-31 0000080424 us-gaap:CommonStockMember 2025-03-31 0000080424 us-gaap:PreferredStockMember 2025-03-31 0000080424 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0000080424 pg:ReserveforESOPDebtRetirementMember 2025-03-31 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-03-31 0000080424 us-gaap:TreasuryStockCommonMember 2025-03-31 0000080424 us-gaap:RetainedEarningsMember 2025-03-31 0000080424 us-gaap:NoncontrollingInterestMember 2025-03-31 0000080424 us-gaap:CommonStockMember 2024-06-30 0000080424 us-gaap:PreferredStockMember 2024-06-30 0000080424 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0000080424 pg:ReserveforESOPDebtRetirementMember 2024-06-30 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-06-30 0000080424 us-gaap:TreasuryStockCommonMember 2024-06-30 0000080424 us-gaap:RetainedEarningsMember 2024-06-30 0000080424 us-gaap:NoncontrollingInterestMember 2024-06-30 0000080424 us-gaap:RetainedEarningsMember 2024-07-01 2025-03-31 0000080424 us-gaap:NoncontrollingInterestMember 2024-07-01 2025-03-31 0000080424 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2025-03-31 0000080424 us-gaap:CommonStockMember 2024-07-01 2025-03-31 0000080424 us-gaap:TreasuryStockCommonMember 2024-07-01 2025-03-31 0000080424 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2025-03-31 0000080424 us-gaap:PreferredStockMember 2024-07-01 2025-03-31 0000080424 pg:ReserveforESOPDebtRetirementMember 2024-07-01 2025-03-31 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 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us-gaap:NoncontrollingInterestMember 2024-03-31 0000080424 2024-03-31 0000080424 us-gaap:CommonStockMe [...TRUNCATED...] ket 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 March 31, 2025, 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. Amounts in millions of dollars unless otherwise specified. 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) 10.1 Company's Form of Separation Agreement & Release *+ 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) * Compensatory plan or arrangement + 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 April 24, 2025 /s/ MATTHEW W. JANZARUK Date (Matthew W. Janzaruk) Senior Vice President - Chief Accounting Officer (Principal Accounting Officer)

Predict whether the return of XLE over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for XLE starting 2025-04-25 was -0.49%, which classifies as 'flat'.


IVV over past 60 days: cumulative return +0.1%, annualized vol 22.9%. Market regime: sideways.

Question:
Asset: IVV
Historical prices (past 60 trading days): start=587.94, end=588.28, cumulative_return=+0.1%, annualized_volatility=22.9%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.62, 'unemployment': 4.3, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.51, 't10y3m_spread': 0.1, 'breakeven_10y': 2.35, 'hy_oas': 3.2, 'ig_oas': 0.9, 'ted_spread': 0.09, 'mortgage_30y': 6.81, 'vix': 18.09000015258789}
Market regime: sideways
Recent filing/news:
[Kaggle 2025-05-20] ["Alphabet Traders Look to Developer Event to Shift AI Narrative (Bloomberg) -- Alphabet Inc.\u2019s investors are looking to this week\u2019s developer conference to see if the company can reset the narrative amid fears that its long-standing market dominance is on shaky ground. Most Read from Bloomberg America, \u2018Nation of Porches\u2019 Can Frank Gehry\u2019s \u2018Grand LA\u2019 Make Downtown Feel Like a Neighborhood? NJ Transit Train Engineers Strike, Disrupting Travel to NYC NJ Transit Makes Deal With Engineers, Ending Three-Day Strike The Google I/O event, which begins Tuesday, is expected to showcase the company\u2019s latest advancements in artificial intelligence. Positive updates could help ease concerns about the rivals nipping at its heels and eating away at its dominant position in web search, even as the company spends heavily on AI. \u201cThe hope is that it will provide a roadmap for a strong future, because right now everyone is waiting for a shoe to drop and has their finger on the trigger for any negative headline,\u201d said David Katz, chief investment officer at Matrix Asset Advisors. \u201cI think it is far stronger than the stock is currently discounting, so view the negativity as a buying opportunity, but it definitely faces more headwinds with AI than it ever did with legacy search.\u201d The stock is down 12.5% this year, compared with a gain of 1.6% for the Nasdaq 100 Index. Meta Platforms Inc., the other significant player in online advertising, is up almost 9%. Alphabet fell 0.3% on Tuesday. Recent weakness in Alphabet came after an Apple Inc. executive said during court testimony that searches on its Safari web browser fell for the first time in April. Alphabet disputed this, and pointed to I/O as a place where it can address concerns by sharing its latest innovations. Last week, The Information reported that Alphabet will unveil an AI agent for software development at the event, along with a Pinterest-like feature, among other updates to its Gemini AI chatbot. However, an underwhelming presentation may be a cause for further weakness. \u201cA good story may not be enough at I/O this time around to sway investors given we\u2019re now armed with recent data points around slower paid click growth, Safari search volume declining for the first time in 22 years, and ChatGPT and Meta AI\u2019s march to a billion users,\u201d Bernstein analyst Mark Shmulik wrote. Since ChatGPT emerged in late 2022, Alphabet has seen repeated selloffs on concerns it is falling behind in AI. The issue, along with heightened antitrust uncertainty, has weighed on Alphabet\u2019s multiple, making it the cheapest big-tech stock by far. Alphabet is still viewed as a central player in AI in terms of both talent and intellectual property, and the stock has repeatedly bounced back from slumps. The company\u2019s most recent results beat expectations and showed AI-related demand, while an April event focused on the company\u2019s cloud business w

Predict whether the return of IVV over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for IVV starting 2025-05-21 was +2.19%, which classifies as 'positive'.


DBA over past 60 days: cumulative return +12.7%, annualized vol 12.3%. Market regime: sideways.

Question:
Asset: DBA
Historical prices (past 60 trading days): start=23.62, end=26.62, cumulative_return=+12.7%, annualized_volatility=12.3%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 318.961, 'unemployment': 4.0, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.34, 't10y3m_spread': 0.22, 'breakeven_10y': 2.38, 'hy_oas': 2.67, 'ig_oas': 0.81, 'ted_spread': 0.09, 'mortgage_30y': 6.95, 'vix': 15.84000015258789}
Market regime: sideways

Predict whether the return of DBA over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for DBA starting 2025-01-31 was -3.95%, which classifies as 'negative'.


ACWI over past 60 days: cumulative return -0.9%, annualized vol 12.6%. Market regime: sideways.

Question:
Asset: ACWI
Historical prices (past 60 trading days): start=118.74, end=117.72, cumulative_return=-0.9%, annualized_volatility=12.6%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.22, 't10y3m_spread': -0.03, 'breakeven_10y': 2.37, 'hy_oas': 2.81, 'ig_oas': 0.85, 'ted_spread': 0.09, 'mortgage_30y': 6.76, 'vix': 21.1299991607666}
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

Predict whether the return of ACWI over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for ACWI starting 2025-02-28 was -3.67%, which classifies as 'negative'.


XRP-USD over past 60 days: cumulative return -3.7%, annualized vol 103.7%. Market regime: sideways.

Question:
Asset: XRP-USD
Historical prices (past 60 trading days): start=2.44, end=2.35, cumulative_return=-3.7%, annualized_volatility=103.7%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.37, 't10y3m_spread': 0.02, 'breakeven_10y': 2.37, 'hy_oas': 3.19, 'ig_oas': 0.91, 'ted_spread': 0.09, 'mortgage_30y': 6.67, 'vix': 18.32999992370605}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of XRP-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for XRP-USD starting 2025-03-27 was -11.63%, which classifies as 'negative'.


MATIC-USD over past 60 days: cumulative return -44.3%, annualized vol 67.3%. Market regime: sideways.

Question:
Asset: MATIC-USD
Historical prices (past 60 trading days): start=0.48, end=0.27, cumulative_return=-44.3%, annualized_volatility=67.3%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.27, 't10y3m_spread': 0.09, 'breakeven_10y': 2.42, 'hy_oas': 2.78, 'ig_oas': 0.81, 'ted_spread': 0.09, 'mortgage_30y': 6.85, 'vix': 18.979999542236328}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of MATIC-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for MATIC-USD starting 2025-02-25 was -22.31%, which classifies as 'negative'.


AVAX-USD over past 60 days: cumulative return +16.3%, annualized vol 79.4%. Market regime: sideways.

Question:
Asset: AVAX-USD
Historical prices (past 60 trading days): start=19.15, end=22.27, cumulative_return=+16.3%, annualized_volatility=79.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 320.62, 'unemployment': 4.3, 'gdp_growth_qoq': 23770.976, 't10y2y_spread': 0.49, 't10y3m_spread': 0.07, 'breakeven_10y': 2.36, 'hy_oas': 3.21, 'ig_oas': 0.92, 'ted_spread': 0.09, 'mortgage_30y': 6.81, 'vix': 18.13999938964844}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of AVAX-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for AVAX-USD starting 2025-05-20 was -0.18%, which classifies as 'flat'.


EEM over past 60 days: cumulative return +14.9%, annualized vol 12.8%. Market regime: bull.

Question:
Asset: EEM
Historical prices (past 60 trading days): start=42.62, end=48.96, cumulative_return=+14.9%, annualized_volatility=12.8%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 322.169, 'unemployment': 4.3, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.52, 't10y3m_spread': 0.01, 'breakeven_10y': 2.45, 'hy_oas': 2.82, 'ig_oas': 0.79, 'ted_spread': 0.09, 'mortgage_30y': 6.74, 'vix': 15.390000343322754}
Market regime: bull
Recent filing/news:
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goog:SubscriptionsPlatformsAndDevicesRevenueMember goog:GoogleServicesMember 2025-04-01 [...TRUNCATED...]  2.500% notes due 2029 Current Report on Form 8-K (File No. 001-37580) May 06, 2025 4.03 Form of Global Note representing the Registrant’s 3.000% notes due 2033 Current Report on Form 8-K (File No. 001-37580) May 06, 2025 4.04 Form of Global Note representing the Registrant’s 3.375% notes due 2037 Current Report on Form 8-K (File No. 001-37580) May 06, 2025 4.05 Form of Global Note representing the Registrant’s 3.875% notes due 2045 Current Report on Form 8-K (File No. 001-37580) May 06, 2025 4.06 Form of Global Note representing the Registrant’s 4.000% notes due 2054 Current Report on Form 8-K (File No. 001-37580) May 06, 2025 4.07 Form of Global Note representing the Registrant’s 4.000% notes due 2030 Current Report on Form 8-K (File No. 001-37580) May 01, 2025 4.08 Form of Global Note representing the Registrant’s 4.500% notes due 2035 Current Report on Form 8-K (File No. 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July 23, 2025 By: /s/ ANAT ASHKENAZI Anat Ashkenazi Senior Vice President, Chief Financial Officer ALPHABET INC. July 23, 2025 By: /s/    AMIE THUENER O'TOOLE         Amie Thuener O'Toole Vice President, Corporate Controller and Principal Accounting Officer 56

Predict whether the return of EEM over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for EEM starting 2025-07-25 was +1.68%, which classifies as 'positive'.


BNDX over past 60 days: cumulative return +0.6%, annualized vol 2.9%. Market regime: bull.

Question:
Asset: BNDX
Historical prices (past 60 trading days): start=47.57, end=47.87, cumulative_return=+0.6%, annualized_volatility=2.9%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24026.834, 't10y2y_spread': 0.53, 't10y3m_spread': 0.0, 'breakeven_10y': 2.37, 'hy_oas': 2.79, 'ig_oas': 0.77, 'ted_spread': 0.09, 'mortgage_30y': 6.35, 'vix': 16.360000610351562}
Market regime: bull

Predict whether the return of BNDX over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for BNDX starting 2025-09-17 was +1.06%, which classifies as 'positive'.


USMV over past 60 days: cumulative return +0.8%, annualized vol 9.7%. Market regime: sideways.

Question:
Asset: USMV
Historical prices (past 60 trading days): start=91.27, end=91.96, cumulative_return=+0.8%, annualized_volatility=9.7%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.22, 't10y3m_spread': 0.17, 'breakeven_10y': 2.45, 'hy_oas': 2.66, 'ig_oas': 0.8, 'ted_spread': 0.09, 'mortgage_30y': 6.85, 'vix': 15.65999984741211}
Market regime: sideways
Recent filing/news:
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May Senior Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) February 20, 2025 * * Herb Allen Director   Christopher C. Davis Director February 20, 2025   February 20, 2025 *   * Bela Bajaria Director   Carolyn Everson Director February 20, 2025   February 20, 2025 *   * Ana Botín Director   Thomas S. Gayner Director February 20, 2025   February 20, 2025 136 * * Maria Elena Lagomasino Director Caroline J. Tsay Director February 20, 2025 February 20, 2025 * * Amity Millhiser Director David B. Weinberg Director February 20, 2025 February 20, 2025 *By: /s/ JENNIFER D. MANNING Jennifer D. Manning Attorney-in-fact   February 20, 2025 137

Predict whether the return of USMV over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for USMV starting 2025-02-21 was +0.33%, which classifies as 'flat'.


BIL over past 60 days: cumulative return +0.7%, annualized vol 0.2%. Market regime: bear.

Question:
Asset: BIL
Historical prices (past 60 trading days): start=87.14, end=87.73, cumulative_return=+0.7%, annualized_volatility=0.2%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.29, 't10y3m_spread': -0.02, 'breakeven_10y': 2.3, 'hy_oas': 3.25, 'ig_oas': 0.94, 'ted_spread': 0.09, 'mortgage_30y': 6.65, 'vix': 21.770000457763672}
Market regime: bear

Predict whether the return of BIL over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for BIL starting 2025-03-17 was +0.23%, which classifies as 'flat'.


INDS over past 60 days: cumulative return +2.7%, annualized vol 17.2%. Market regime: sideways.

Question:
Asset: INDS
Historical prices (past 60 trading days): start=33.81, end=34.72, cumulative_return=+2.7%, annualized_volatility=17.2%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.31, 't10y3m_spread': -0.08, 'breakeven_10y': 2.33, 'hy_oas': 3.21, 'ig_oas': 0.92, 'ted_spread': 0.09, 'mortgage_30y': 6.67, 'vix': 19.280000686645508}
Market regime: sideways

Predict whether the return of INDS over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for INDS starting 2025-03-24 was -3.18%, which classifies as 'negative'.


DOT-USD over past 60 days: cumulative return -54.9%, annualized vol 85.0%. Market regime: sideways.

Question:
Asset: DOT-USD
Historical prices (past 60 trading days): start=10.41, end=4.69, cumulative_return=-54.9%, annualized_volatility=85.0%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.26, 't10y3m_spread': 0.1, 'breakeven_10y': 2.42, 'hy_oas': 2.69, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.95, 'vix': 15.770000457763672}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of DOT-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for DOT-USD starting 2025-02-06 was +9.64%, which classifies as 'positive'.


XLRE over past 60 days: cumulative return +1.5%, annualized vol 13.5%. Market regime: bull.

Question:
Asset: XLRE
Historical prices (past 60 trading days): start=39.92, end=40.52, cumulative_return=+1.5%, annualized_volatility=13.5%
Macro context: {'fed_funds_rate': 3.87, 'cpi_yoy': 325.063, 'unemployment': 4.5, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.55, 't10y3m_spread': 0.18, 'breakeven_10y': 2.29, 'hy_oas': 3.02, 'ig_oas': 0.82, 'ted_spread': 0.09, 'mortgage_30y': 6.22, 'vix': 17.600000381469727}
Market regime: bull
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 0000093410 us-gaap:NoncontrollingInterestMember 2024-07-01 2024-09-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2024-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2024-07-01 2024-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2024-09-30 0000093410 us-gaap:RetainedEarningsMember 2024-09-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-09-30 0000093410 us-gaap:TreasuryStockCommonMember 2024-09-30 0000093410 us-gaap:ParentMember 2024-09-30 0000093410 us-gaap:NoncontrollingInterestMember 2024-09-30 0000093410 us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember 2025-06-30 0000093410 us-gaap:RetainedEarningsMember 2025-06-30 0000093410 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-06-30 0000093410 us-gaap:TreasuryStockCommonMember 2025-06-30 0000093410 us-gaap:ParentMember 2025-06-30 0000093410 us-gaap:NoncontrollingInterestMember 2025-06-30 0000093410 2025-06-30 0000093410 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

Predict whether the return of XLRE over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for XLRE starting 2025-11-11 was -2.16%, which classifies as 'negative'.


BNB-USD over past 60 days: cumulative return -13.5%, annualized vol 40.0%. Market regime: sideways.

Question:
Asset: BNB-USD
Historical prices (past 60 trading days): start=714.32, end=617.60, cumulative_return=-13.5%, annualized_volatility=40.0%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.36, 't10y3m_spread': 0.27, 'breakeven_10y': 2.42, 'hy_oas': 2.68, 'ig_oas': 0.82, 'ted_spread': 0.09, 'mortgage_30y': 6.95, 'vix': 16.43000030517578}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of BNB-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for BNB-USD starting 2025-02-03 was -0.51%, which classifies as 'flat'.


BIL over past 60 days: cumulative return +0.7%, annualized vol 0.2%. Market regime: bull.

Question:
Asset: BIL
Historical prices (past 60 trading days): start=89.21, end=89.80, cumulative_return=+0.7%, annualized_volatility=0.2%
Macro context: {'fed_funds_rate': 4.09, 'cpi_yoy': 324.245, 'unemployment': 4.4, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.57, 't10y3m_spread': 0.13, 'breakeven_10y': 2.35, 'hy_oas': 2.82, 'ig_oas': 0.77, 'ted_spread': 0.09, 'mortgage_30y': 6.34, 'vix': 17.239999771118164}
Market regime: bull

Predict whether the return of BIL over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for BIL starting 2025-10-08 was +0.23%, which classifies as 'flat'.


GLD over past 60 days: cumulative return -1.0%, annualized vol 15.8%. Market regime: sideways.

Question:
Asset: GLD
Historical prices (past 60 trading days): start=247.15, end=244.56, cumulative_return=-1.0%, annualized_volatility=15.8%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 318.961, 'unemployment': 4.0, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.37, 't10y3m_spread': 0.32, 'breakeven_10y': 2.38, 'hy_oas': 2.79, 'ig_oas': 0.84, 'ted_spread': 0.09, 'mortgage_30y': 6.91, 'vix': 17.81999969482422}
Market regime: sideways

Predict whether the return of GLD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: positive

Explanation: The actual 21-day forward return for GLD starting 2025-01-08 was +7.43%, which classifies as 'positive'.


GLD over past 60 days: cumulative return +8.4%, annualized vol 13.5%. Market regime: sideways.

Question:
Asset: GLD
Historical prices (past 60 trading days): start=246.66, end=267.39, cumulative_return=+8.4%, annualized_volatility=13.5%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.679, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.25, 't10y3m_spread': 0.19, 'breakeven_10y': 2.46, 'hy_oas': 2.66, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.89, 'vix': 16.020000457763672}
Market regime: sideways

Predict whether the return of GLD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for GLD starting 2025-02-12 was +0.99%, which classifies as 'flat'.


BNB-USD over past 60 days: cumulative return +0.0%, annualized vol 67.4%. Market regime: sideways.

Question:
Asset: BNB-USD
Historical prices (past 60 trading days): start=714.32, end=714.32, cumulative_return=+0.0%, annualized_volatility=67.4%
Macro context: {'fed_funds_rate': 3.87, 'cpi_yoy': 325.063, 'unemployment': 4.5, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.52, 't10y3m_spread': 0.14, 'breakeven_10y': 2.29, 'hy_oas': 3.13, 'ig_oas': 0.83, 'ted_spread': 0.09, 'mortgage_30y': 6.17, 'vix': 19.0}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of BNB-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for BNB-USD starting 2025-11-05 was +0.00%, which classifies as 'flat'.


ADA-USD over past 60 days: cumulative return -34.6%, annualized vol 67.5%. Market regime: sideways.

Question:
Asset: ADA-USD
Historical prices (past 60 trading days): start=0.84, end=0.55, cumulative_return=-34.6%, annualized_volatility=67.5%
Macro context: {'fed_funds_rate': 3.87, 'cpi_yoy': 325.063, 'unemployment': 4.5, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.54, 't10y3m_spread': 0.21, 'breakeven_10y': 2.3, 'hy_oas': 3.05, 'ig_oas': 0.81, 'ted_spread': 0.09, 'mortgage_30y': 6.17, 'vix': 18.010000228881836}
Market regime: sideways
Recent filing/news:
[Kaggle 2023-12-19]

Predict whether the return of ADA-USD over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for ADA-USD starting 2025-11-06 was -18.32%, which classifies as 'negative'.


XLRE over past 60 days: cumulative return +0.5%, annualized vol 19.2%. Market regime: sideways.

Question:
Asset: XLRE
Historical prices (past 60 trading days): start=40.30, end=40.50, cumulative_return=+0.5%, annualized_volatility=19.2%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.25, 't10y3m_spread': -0.03, 'breakeven_10y': 2.29, 'hy_oas': 3.18, 'ig_oas': 0.93, 'ted_spread': 0.09, 'mortgage_30y': 6.65, 'vix': 20.51000022888184}
Market regime: sideways
Recent filing/news:
[Kaggle 2025-03-17] 3 Growth Companies With High Insider Ownership Achieving 17% Revenue Growth In a volatile market where major indexes have experienced declines for several consecutive weeks, investors are keenly observing growth companies that demonstrate resilience and potential. High insider ownership often signals confidence from those closest to the company, making it an appealing factor for investors seeking stability and growth in uncertain times. Click here to see the full list of 206 stocks from our Fast Growing US Companies With High Insider Ownership screener. Let's dive into some prime choices out of the screener. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Futu Holdings Limited operates as a digitalized securities brokerage and wealth management product distributor in Hong Kong and internationally, with a market cap of approximately $16.34 billion. Operations: The company's revenue is primarily generated from its online brokerage and margin financing services, totaling HK$11.97 billion. Insider Ownership: 36.6% Revenue Growth Forecast: 17.5% p.a. Futu Holdings demonstrates potential as a growth company with high insider ownership. The company's revenue is forecast to grow at 17.5% annually, outpacing the US market's 8.5%. Recent earnings results show substantial growth, with fourth-quarter revenue reaching HK$4.43 billion and net income at HK$1.87 billion, both significantly higher than the previous year. While not expected to achieve significant annual earnings growth, Futu's return on equity is projected to be strong in three years at 21.2%. Navigate through the intricacies of Futu Holdings with our comprehensive analyst estimates report here. Our valuation report unveils the possibility Futu Holdings' shares may be trading at a premium. Simply Wall St Growth Rating: ★★★★★☆ Overview: Atlassian Corporation, with a market cap of $57.23 billion, designs, develops, licenses, and maintains various software products worldwide through its subsidiaries. Operations: The company's revenue primarily comes from its Software & Programming segment, which generated $4.79 billion. Insider Ownership: 37.8% Revenue Growth Forecast: 15.6% p.a. Atlassian's insider ownership is complemented by recent substantial insider selling, yet the company remains a strong growth contender. Its revenue is forecast to grow at 15.6% annually, surpassing the US market average. The company reported a significant reduction in net loss for the latest quarter with revenue reaching US$1.29 billion. Analysts project Atlassian will achieve profitability within three years, and its return on equity is expected to be very high at 43.4%. Delve into the full analysis future growth report here for a deeper understanding of Atlassian. In light of our recent valuation report, it seems possible that Atlassian is trading behind its estimated value. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Tesla, Inc. is involved in the design, development, manufacturing, leasing, and sale of electric vehicle

Predict whether the return of XLRE over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for XLRE starting 2025-03-18 was -4.40%, which classifies as 'negative'.


CSHI over past 60 days: cumulative return +0.7%, annualized vol 1.1%. Market regime: sideways.

Question:
Asset: CSHI
Historical prices (past 60 trading days): start=48.28, end=48.62, cumulative_return=+0.7%, annualized_volatility=1.1%
Macro context: {'fed_funds_rate': 3.88, 'cpi_yoy': 325.063, 'unemployment': 4.5, 'gdp_growth_qoq': 24055.749, 't10y2y_spread': 0.55, 't10y3m_spread': 0.16, 'breakeven_10y': 2.24, 'hy_oas': 3.17, 'ig_oas': 0.85, 'ted_spread': 0.09, 'mortgage_30y': 6.26, 'vix': 26.420000076293945}
Market regime: sideways

Predict whether the return of CSHI over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: flat

Explanation: The actual 21-day forward return for CSHI starting 2025-11-21 was +0.35%, which classifies as 'flat'.


VNQ over past 60 days: cumulative return +1.1%, annualized vol 17.4%. Market regime: sideways.

Question:
Asset: VNQ
Historical prices (past 60 trading days): start=85.34, end=86.28, cumulative_return=+1.1%, annualized_volatility=17.4%
Macro context: {'fed_funds_rate': 4.33, 'cpi_yoy': 319.785, 'unemployment': 4.2, 'gdp_growth_qoq': 23548.21, 't10y2y_spread': 0.35, 't10y3m_spread': -0.02, 'breakeven_10y': 2.35, 'hy_oas': 3.09, 'ig_oas': 0.9, 'ted_spread': 0.09, 'mortgage_30y': 6.67, 'vix': 17.149999618530273}
Market regime: sideways

Predict whether the return of VNQ over the next 21 trading days will be: positive (>+1%), negative (<-1%), or flat (within ±1%).

Answer: negative

Explanation: The actual 21-day forward return for VNQ starting 2025-03-26 was -3.39%, which classifies as 'negative'.