XLP: 60-day return history, mean=-0.0006, std=0.0088.

Question:
Asset: XLP
Daily returns (past 60 days): mean=-0.0006, std=0.0088, min=-0.0220, max=0.0211
Market regime: bear
Recent filing/news:
[Kaggle 2025-03-13] ["iRobot stock dives on its 'substantial doubt' of surviving in 2025 iRobot (IRBT) stock is plummeting by nearly 35% ahead of Wednesday's market close after the Roomba-maker warned about the company's \"substantial doubt\" of its ability to continue. This comes over a year after its deal with Amazon (AMZN) fell through Julie Hyman and Josh Lipton report more on iRobot's negative stock moves. To watch more expert insights and analysis on the latest market action, check out more Market Domination here.", "Game On: Discord reportedly in talks for IPO in 2025 \u201cGame On\u201d is The Fly\u2019s weekly recap of the stories powering up or beating down video game stocks. Easily identify stocks' risks and opportunities. Discover stocks' market position with detailed competitor analyses. NEW RELEASES: This week\u2019s most notable new game release is Take-Two\u2019s (TTWO) professional wrestling sim \u201cWWE 2K25,\u201d which launches March 14 for PlayStation 4 (SONY), PS5, PC, Xbox One (MSFT), and Xbox Series X/S. DISCORD IPO: Discord, a social media and messaging app loved by gamers, that \u201callows users to chat via voice, video, or text,\u201d has held discussions with bankers recently \u201cto discuss preparations for an initial public offering,\u201d possibly in 2025, Lauren Hirsch and Mike Isaac of The New York Times reported Monday. The device will look unmistakably \u201cXbox,\u201d including an official Xbox guide button and Xbox-related design sensibilities, the author said, noting he expects the handheld to likely run full Windows, alongside the ability to install Steam. Additionally, sources told Corden that the company\u2019s internal successor to the Xbox Series X/S platform has been fully greenlit by CEO Satya Nadella, with a premium successor the Series X and the new gaming handheld as part of the next-generation plans, with the new devices slated for 2027. Click here to check out recent Media Buzz Sentiment on Microsoft as measured by TipRanks. LOOP ON BEST BUY: Loop Capital maintained a Buy rating and $90 price target on Best Buy (BBY) last week. The firm\u2019s quarterly pricing study comparing Best Buy and Amazon\u2019s (AMZN) prices on 50 items across five different product categories left it \u201cencouraged\u201d that Best Buy\u2019s prices remain highly competitive with Amazon\u2019s, the analyst tells investors in a research note. While the increasingly uncertain U.S. macroeconomic environment is likely to remain a near-term overhang, there are two significant upcoming fundamental catalysts this year \u2013 the introduction of the Nintendo Switch 2 (NTDOY) and the debut of Take-Two\u2019s \u201cGrand Theft Auto VI,\u201d the firm added. MORE VIDEO GAME NEWS: Electronic Arts\u2019 (EA) \u201cSplit Fiction\u201d sold 1M units in its first 48 hours Activision said that \u201cTony Hawk\u2019s Pro Skater 3 + 4\u201d will release July 11 for Xbox, PlayStation, PC, and Nintendo Switch Sony\u2019s Visual Arts studio was hit with a f

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

Answer: -0.0158

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0158 (i.e., on a bad day with 5% probability, the loss exceeds 1.58%). CVaR(95%) = -0.0195.


SOL-USD: 60-day return history, mean=-0.0005, std=0.0461.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=-0.0005, std=0.0461, 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: -0.0636

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0636 (i.e., on a bad day with 5% probability, the loss exceeds 6.36%). CVaR(95%) = -0.0730.


AVAX-USD: 60-day return history, mean=0.0053, std=0.0500.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=0.0053, std=0.0500, min=-0.1060, max=0.1441
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: -0.0627

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0627 (i.e., on a bad day with 5% probability, the loss exceeds 6.27%). CVaR(95%) = -0.0899.


BNB-USD: 60-day return history, mean=0.0053, std=0.0214.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=0.0053, std=0.0214, min=-0.0346, max=0.0712
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: -0.0272

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%) = -0.0322.


CSHI: 60-day return history, mean=0.0002, std=0.0006.

Question:
Asset: CSHI
Daily returns (past 60 days): mean=0.0002, std=0.0006, min=-0.0017, max=0.0020
Market regime: sideways

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

Answer: -0.0005

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0005 (i.e., on a bad day with 5% probability, the loss exceeds 0.05%). CVaR(95%) = -0.0013.


MATIC-USD: 52-day return history, mean=-0.0069, std=0.0431.

Question:
Asset: MATIC-USD
Daily returns (past 52 days): mean=-0.0069, std=0.0431, min=-0.1586, max=0.0741
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 MATIC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0916

Explanation: Historical simulation VaR at 95%: sort the 52 daily returns and take the 5th percentile. VaR(95%) = -0.0916 (i.e., on a bad day with 5% probability, the loss exceeds 9.16%). CVaR(95%) = -0.1202.


BTC-USD: 60-day return history, mean=0.0053, std=0.0268.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0053, std=0.0268, min=-0.0575, max=0.1022
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: -0.0368

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0368 (i.e., on a bad day with 5% probability, the loss exceeds 3.68%). CVaR(95%) = -0.0484.


SOL-USD: 60-day return history, mean=0.0062, std=0.0413.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=0.0062, std=0.0413, min=-0.0902, max=0.1130
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 SOL-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0452

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0452 (i.e., on a bad day with 5% probability, the loss exceeds 4.52%). CVaR(95%) = -0.0747.


ETH-USD: 60-day return history, mean=-0.0072, std=0.0431.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=-0.0072, std=0.0431, min=-0.1485, max=0.1367
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 ETH-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0802

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0802 (i.e., on a bad day with 5% probability, the loss exceeds 8.02%). CVaR(95%) = -0.1136.


CSHI: 60-day return history, mean=0.0002, std=0.0007.

Question:
Asset: CSHI
Daily returns (past 60 days): mean=0.0002, std=0.0007, min=-0.0017, max=0.0020
Market regime: bear

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

Answer: -0.0010

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0010 (i.e., on a bad day with 5% probability, the loss exceeds 0.10%). CVaR(95%) = -0.0012.


VLUE: 60-day return history, mean=-0.0010, std=0.0111.

Question:
Asset: VLUE
Daily returns (past 60 days): mean=-0.0010, std=0.0111, min=-0.0356, max=0.0176
Market regime: bear
Recent filing/news:
[Kaggle 2025-04-04] 3 Stocks Estimated To Be Undervalued By Up To 37.7% The United States stock market recently experienced significant volatility, with major indexes like the Dow Jones and S&P 500 facing their worst day since 2020 due to newly announced tariffs. In such turbulent times, identifying undervalued stocks can be a strategic move for investors seeking opportunities amidst broader market declines. Click here to see the full list of 189 stocks from our Undervalued US Stocks Based On Cash Flows screener. Let's explore several standout options from the results in the screener. Overview: AppLovin Corporation develops a software platform aimed at improving marketing and monetization for advertisers both in the United States and globally, with a market cap of approximately $98.72 billion. Operations: The company's revenue is primarily derived from its Apps segment, generating $1.49 billion, and its Advertising segment, contributing $3.22 billion. Estimated Discount To Fair Value: 24.3% AppLovin is trading 24.3% below its estimated fair value, with earnings expected to grow significantly at 23.19% annually, outpacing the US market's growth rate. Despite a high level of debt and recent legal challenges alleging unethical practices, the company reported strong financial results with Q4 sales reaching US$1.37 billion and net income at US$599.2 million. However, insider selling and share price volatility present potential risks for investors considering cash flow valuation metrics. Our earnings growth report unveils the potential for significant increases in AppLovin's future results. Navigate through the intricacies of AppLovin with our comprehensive financial health report here. Overview: Comstock Resources, Inc. is an independent energy company focused on the acquisition, exploration, development, and production of natural gas and oil properties in the United States with a market cap of $6.29 billion. Operations: The company's revenue primarily comes from its oil and gas exploration and production segment, which generated $1.25 billion. Estimated Discount To Fair Value: 21.3% Comstock Resources is trading 21.3% below its estimated fair value of US$26.1, with revenue expected to grow at 20.9% annually, surpassing the US market's growth rate. Despite a high debt level and recent quarterly losses of US$58.13 million amidst declining production, forecasts indicate the company will become profitable within three years with earnings growth projected at over 110% per year, suggesting potential for investors focused on cash flow valuation metrics. Our growth report here indicates Comstock Resources may be poised for an improving outlook. Dive into the specifics of Comstock Resources here with our thorough financial health report. Overview: BBB Foods Inc. operates a chain of grocery retail stores in Mexico and has a market cap of $3.11 billion. Operations: The company's revenue is primarily derived from the sale, acquisition, and distribution of various products and consu

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: -0.0178

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0178 (i.e., on a bad day with 5% probability, the loss exceeds 1.78%). CVaR(95%) = -0.0311.


XLY: 60-day return history, mean=-0.0018, std=0.0189.

Question:
Asset: XLY
Daily returns (past 60 days): mean=-0.0018, std=0.0189, min=-0.0388, max=0.0338
Market regime: sideways
Recent filing/news:
[Kaggle 2025-05-13] Alnylam Pharmaceuticals (NasdaqGS:ALNY) To Present Pivotal TTR Franchise Data At Heart Failure Congress In May 2025, Alnylam Pharmaceuticals announced its plan to present new data from its transthyretin amyloidosis (TTR) franchise at the Heart Failure 2025 Congress, alongside securing broader international approvals for its therapeutic vutrisiran (AMVUTTRA). During the same month, the overall market rallied due to positive developments in U.S.-China trade relations, with major indexes experiencing substantial gains. Alnylam's 5.63% rise over the period likely reflects investor optimism towards its recent product announcements and earnings improvements, aligning with broader market upward trends driven by eased international trade tensions. Alnylam Pharmaceuticals has 1 warning sign we think you should know about. Find companies with promising cash flow potential yet trading below their fair value. The recent announcement by Alnylam Pharmaceuticals about presenting new data at Heart Failure 2025 Congress and gaining wider international approvals for vutrisiran could significantly bolster investor confidence in the company's growth trajectory. Given the expanded indication for AMVUTTRA in ATTR cardiomyopathy, the potential for increased revenue is substantial. This aligns with the company's aim to achieve sustainable profitability, despite current earnings being at US$269.7 million. Additionally, analysts forecast future earnings to improve, with expected revenue reaching several billion dollars, indicating growth prospects fueled by new product launches and expanding market share. Over the past three years, Alnylam's total shareholder return, including share price and dividends, was 101.13%. This robust performance compares favorably against the market's 8% return over the past year. Additionally, Alnylam outperformed the US Biotechs industry, which experienced a 15.3% decline in the same time frame. These figures underscore Alnylam's relative strength and investor optimism toward its pipeline and strategic initiatives. The enthusiasm generated by Alnylam's recent developments is also reflected in the stock's price movement. The shares currently trade at a discount to the consensus analyst price target of US$320.56, suggesting potential upside if future earnings and revenue growth materialize as expected. However, despite the positive sentiment, the stock's price-to-sales ratio remains above both industry and peer averages, indicating a premium valuation. As such, the price movement in conjunction with analyst forecasts highlights both potential growth opportunities and the inherent risks associated with Alnylam's current market positioning. Navigate through the intricacies of Alnylam Pharmaceuticals with our comprehensive balance sheet health report here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to

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: -0.0365

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0365 (i.e., on a bad day with 5% probability, the loss exceeds 3.65%). CVaR(95%) = -0.0388.


ADA-USD: 60-day return history, mean=0.0014, std=0.0434.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0014, std=0.0434, min=-0.1251, max=0.1422
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 ADA-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0481

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0481 (i.e., on a bad day with 5% probability, the loss exceeds 4.81%). CVaR(95%) = -0.0849.


ITB: 60-day return history, mean=-0.0014, std=0.0154.

Question:
Asset: ITB
Daily returns (past 60 days): mean=-0.0014, std=0.0154, min=-0.0318, max=0.0472
Market regime: bull

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

Answer: -0.0268

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0268 (i.e., on a bad day with 5% probability, the loss exceeds 2.68%). CVaR(95%) = -0.0306.


SOL-USD: 60-day return history, mean=-0.0004, std=0.0423.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=-0.0004, std=0.0423, min=-0.1463, max=0.1093
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 SOL-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0568

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0568 (i.e., on a bad day with 5% probability, the loss exceeds 5.68%). CVaR(95%) = -0.1019.


USO: 60-day return history, mean=-0.0033, std=0.0203.

Question:
Asset: USO
Daily returns (past 60 days): mean=-0.0033, std=0.0203, min=-0.0678, max=0.0557
Market regime: bear

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

Answer: -0.0338

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0338 (i.e., on a bad day with 5% probability, the loss exceeds 3.38%). CVaR(95%) = -0.0559.


DOT-USD: 60-day return history, mean=-0.0061, std=0.0456.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0061, std=0.0456, min=-0.1306, max=0.0874
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 DOT-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0846

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0846 (i.e., on a bad day with 5% probability, the loss exceeds 8.46%). CVaR(95%) = -0.1142.


VLUE: 60-day return history, mean=-0.0006, std=0.0086.

Question:
Asset: VLUE
Daily returns (past 60 days): mean=-0.0006, std=0.0086, min=-0.0279, max=0.0296
Market regime: sideways
Recent filing/news:
[SEC 10-Q WMT 2024-12-06] wmt-20241031 0000104169 1/31 2025 Q3 false 451 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:JPY wmt:state wmt:county wmt:defendant wmt:case wmt:classAction wmt:securitiesClassAction wmt:shareholder wmt:derivativeAction wmt:pharmacist wmt:segment 0000104169 2024-02-01 2024-10-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2024-02-01 2024-10-31 0000104169 wmt:A2.550NotesDue2026Member 2024-02-01 2024-10-31 0000104169 wmt:A1050NotesDue2026Member 2024-02-01 2024-10-31 0000104169 wmt:A1500NotesDue2028Member 2024-02-01 2024-10-31 0000104169 wmt:A4875NotesDue2029Member 2024-02-01 2024-10-31 0000104169 wmt:A5750NotesDue2030Member 2024-02-01 2024-10-31 0000104169 wmt:A1800NotesDue2031Member 2024-02-01 2024-10-31 0000104169 wmt:A5625NotesDue2034Member 2024-02-01 2024-10-31 0000104169 wmt:A5250NotesDue2035Member 2024-02-01 2024-10-31 0000104169 wmt:A4875NotesDue2039Member 2024-02-01 2024-10-31 0000104169 2024-12-04 0000104169 2024-08-01 2024-10-31 0000104169 2023-08-01 2023-10-31 0000104169 2023-02-01 2023-10-31 0000104169 2024-10-31 0000104169 2024-01-31 0000104169 2023-10-31 0000104169 us-gaap:CommonStockMember 2024-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-31 0000104169 us-gaap:ParentMember 2024-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-01-31 0000104169 us-gaap:RetainedEarningsMember 2024-02-01 2024-04-30 0000104169 us-gaap:ParentMember 2024-02-01 2024-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2024-02-01 2024-04-30 0000104169 2024-02-01 2024-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-02-01 2024-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-02-01 2024-04-30 0000104169 us-gaap:CommonStockMember 2024-04-30 0000104169 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2024-07-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-07-31 0000104169 2024-07-31 0000104169 us-gaap:RetainedEarningsMember 2024-08-01 2024-10-31 0000104169 us-gaap:ParentMember 2024-08-01 2024-10-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-08-01 2024-10-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-08-01 2024-10-31 0000104169 us-gaap:CommonStockMember 2024-08-01 2024-10-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-08-01 2024-10-31 0000104169 us-gaap:CommonStockMember 2024-10-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2024-10-31 0000104169 us-gaap:RetainedEarningsMember 2024-10-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-10-31 0000104169 us-gaap:ParentMember 2024-10-31 0000104169 us-gaap:NoncontrollingInterestMember 2024-10-31 0000104169 us-gaap:CommonStockMember 2023-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2023-01-31 0000104169 us-gaap:RetainedEarningsMember 2023-01-31 0000104169 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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 VLUE. Express as a decimal (e.g., -0.02).

Answer: -0.0116

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0116 (i.e., on a bad day with 5% probability, the loss exceeds 1.16%). CVaR(95%) = -0.0177.


USMV: 60-day return history, mean=0.0001, std=0.0057.

Question:
Asset: USMV
Daily returns (past 60 days): mean=0.0001, std=0.0057, min=-0.0114, max=0.0111
Market regime: bull
Recent filing/news:
[Kaggle 2025-08-26] ["Apple\u2019s August Stock Revival Gives Hope to Concerned Investors (Bloomberg) -- Apple Inc.\u2019s stock is showing signs of life after struggling through most of 2025, as the tariff-related risks that have weighed on the company start to ease. Shares of the tech giant entered August down 17% for the year due in part to concerns about the impact of President Donald Trump\u2019s sweeping levies, which cost the company $800 million in its fiscal third quarter alone. The US president has long criticized Apple for its reliance on overseas production partners, at one point even threatening to punish the company with tariffs if it didn\u2019t make its iPhones in the US. Most Read from Bloomberg In Trump\u2019s DC Crackdown, the National Park Service Leads Homeless Sweeps Germany Revives a Building Style With a Bleak History: Prefab Housing Chicago Schools\u2019 Late Pension Payment Magnifies Fiscal Mess To Boost Housing, Chicago Kills Parking Minimums Central Glasgow Could Be Poised for a Revival Then, at an event in the Oval Office on Aug. 6, Apple Chief Executive Officer Tim Cook committed to spending an additional $100 billion on manufacturing in the US. Combined with the iPhone maker\u2019s expansion of a long-standing deal with glass-supplier Corning Inc., the risk of additional Trump tariffs were seen as diminishing and the stock took off, soaring 8.7% in August, putting it on pace for its best month since June 2024. The stock fell 0.7% on Tuesday. \u201cThe picture is a lot clearer from a tariff standpoint,\u201d said George Cipolloni, a veteran portfolio manager. Apple \u201cwas in Trump\u2019s crosshairs, but Cook kissed the ring and now it no longer seems to be, which removes a headwind.\u201d It\u2019s been a strange stretch for Apple. The stock has been a reliable winner for years, soaring more than 240% from 2020 through 2024, putting it among the 20 best performers in the tech-heavy Nasdaq 100 Index. But this year has been different. Even with its August run, the shares are still down 10% in 2025, putting them among the worst performers in the benchmark. In addition to tariffs, the company is facing skepticism about its artificial intelligence plans and sluggish sales growth. The stock also remains relatively expensive. Even with this year\u2019s selloff, it\u2019s trading at 29 times projected earnings, a premium to its average over the past decade of 21 times and to the Nasdaq 100\u2019s multiple of 27. However, sentiment is clearly improving. Late last month, Apple reported its fastest quarterly revenue growth in more than three years, supported by its iPhone business and strength in the China market. AI Strategy More importantly, the Cupertino, California-based company is working on a revamped AI strategy that will include robots, a lifelike version of its Siri digital assistant, and a smart speaker with a display, Bloomberg News reported two weeks ago. It\u2019s also said to be in early discussions about using Google Gemini to po

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

Answer: -0.0089

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0089 (i.e., on a bad day with 5% probability, the loss exceeds 0.89%). CVaR(95%) = -0.0100.


XLE: 60-day return history, mean=-0.0011, std=0.0131.

Question:
Asset: XLE
Daily returns (past 60 days): mean=-0.0011, std=0.0131, min=-0.0356, max=0.0218
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 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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 XLE. Express as a decimal (e.g., -0.02).

Answer: -0.0246

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0246 (i.e., on a bad day with 5% probability, the loss exceeds 2.46%). CVaR(95%) = -0.0313.


IYR: 60-day return history, mean=0.0002, std=0.0082.

Question:
Asset: IYR
Daily returns (past 60 days): mean=0.0002, std=0.0082, min=-0.0253, max=0.0164
Market regime: sideways

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

Answer: -0.0118

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0118 (i.e., on a bad day with 5% probability, the loss exceeds 1.18%). CVaR(95%) = -0.0195.


XRP-USD: 60-day return history, mean=0.0067, std=0.0398.

Question:
Asset: XRP-USD
Daily returns (past 60 days): mean=0.0067, std=0.0398, min=-0.1033, max=0.1492
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 XRP-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0398

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0398 (i.e., on a bad day with 5% probability, the loss exceeds 3.98%). CVaR(95%) = -0.0767.


MATIC-USD: 60-day return history, mean=-0.0119, std=0.0453.

Question:
Asset: MATIC-USD
Daily returns (past 60 days): mean=-0.0119, std=0.0453, min=-0.1586, max=0.0741
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 MATIC-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0998

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0998 (i.e., on a bad day with 5% probability, the loss exceeds 9.98%). CVaR(95%) = -0.1253.


BTC-USD: 60-day return history, mean=0.0040, std=0.0187.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0040, std=0.0187, min=-0.0393, max=0.0677
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: -0.0203

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0203 (i.e., on a bad day with 5% probability, the loss exceeds 2.03%). CVaR(95%) = -0.0316.


ADA-USD: 60-day return history, mean=0.0031, std=0.0364.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=0.0031, std=0.0364, min=-0.0764, max=0.1422
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 ADA-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0458

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0458 (i.e., on a bad day with 5% probability, the loss exceeds 4.58%). CVaR(95%) = -0.0606.


DOT-USD: 60-day return history, mean=-0.0009, std=0.0408.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0009, std=0.0408, min=-0.0792, max=0.1197
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 DOT-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0517

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0517 (i.e., on a bad day with 5% probability, the loss exceeds 5.17%). CVaR(95%) = -0.0699.


ADA-USD: 60-day return history, mean=-0.0092, std=0.0421.

Question:
Asset: ADA-USD
Daily returns (past 60 days): mean=-0.0092, std=0.0421, min=-0.0958, max=0.1251
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 ADA-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0631

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0631 (i.e., on a bad day with 5% probability, the loss exceeds 6.31%). CVaR(95%) = -0.0783.


BTC-USD: 60-day return history, mean=0.0019, std=0.0177.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0019, std=0.0177, min=-0.0393, max=0.0640
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: -0.0208

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0208 (i.e., on a bad day with 5% probability, the loss exceeds 2.08%). CVaR(95%) = -0.0316.


ETH-USD: 60-day return history, mean=-0.0059, std=0.0332.

Question:
Asset: ETH-USD
Daily returns (past 60 days): mean=-0.0059, std=0.0332, min=-0.0832, max=0.0704
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 ETH-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0562

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0562 (i.e., on a bad day with 5% probability, the loss exceeds 5.62%). CVaR(95%) = -0.0774.


EEM: 60-day return history, mean=0.0013, std=0.0079.

Question:
Asset: EEM
Daily returns (past 60 days): mean=0.0013, std=0.0079, min=-0.0160, max=0.0256
Market regime: bull
Recent filing/news:
[Kaggle 2025-09-05] ["Trump Warns of \u2018Fairly Substantial\u2019 Tariff on Semiconductors. What It Means for Chip Stocks. President Donald Trump said a tariff on imports of chips is coming \u201cvery shortly\u201d for companies that aren\u2019t shifting production to the U.S.", "Inside eBay\u2019s Quest to Become an AI Leader How the 30-year-old e-commerce giant is going all-in on artificial intelligence, hoping the technology can help it update its image and beat mounting competition.", "Trump Basks in Tech Leaders\u2019 Spending Vows at White House Dinner (Bloomberg) \u2014 Meta Platforms Inc.\u2019s (META) Mark Zuckerberg and Apple Inc.\u2019s (AAPL) Tim Cook joined tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Donald Trump that highlighted his deepening relationship with Silicon Valley. Most Read from Bloomberg One of World\u2019s Most Liveable Cities Ends Euro-a-Day Travel Pass Chicago\u2019s Citadel Center for Sale 3 Years After Miami Move Philadelphia Transit Cuts Portend \u2018Mayhem\u2019 for Commutes and Regional Economy One-Way Streets Are the Wrong Way to Tame Downtown Traffic Self-Driving Cars Take a Turn Toward the Villainous, in Movies and Real Life In his opening remarks, Trump addressed a key concern of tech companies: ensuring there\u2019s enough energy to meet surging power demands from the data centers behind the AI boom. \u201cWe\u2019re making it very easy for you in terms of electric capacity and getting it for you, getting your permits,\u201d Trump said in the White House State Dining Room. \u201cWe\u2019re leading China by a lot, by a really, by a great amount.\u201d Thursday\u2019s dinner marked a rare gathering in Washington of top executives and founders from some of the world\u2019s most valuable tech companies \u2014 all vying for an edge in the emerging field of AI. Attendees also included OpenAI Inc.\u2019s (OPAI.PVT) Sam Altman, Alphabet Inc.\u2019s (GOOG, GOOGL) Sundar Pichai and co-founder Sergey Brin, and Microsoft Corp.\u2019s (MSFT) Satya Nadella and Bill Gates. The president went around the table asking executives to talk about their plans. Corporate leaders took turns highlighting their efforts to expand in the US, with each expressing gratitude for administration policies they see as bolstering efforts to advance AI. Trump asked Zuckerberg to speak first. \u201cAll of the companies here are building, just making huge investments in the country in order to build out data centers and infrastructure to power the next wave of innovation,\u201d the Meta CEO told Trump. Pressed by the president on how much his company was investing, Zuckerberg said \u201cat least $600 billion\u201d through 2028. \u201cThat\u2019s a lot,\u201d Trump said. In recent days, the president has touted a massive data center Meta is building in Louisiana that will cost $50 billion. Trump has drawn tech executives into his orbit with an agenda aimed at lowering tax

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

Answer: -0.0124

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0124 (i.e., on a bad day with 5% probability, the loss exceeds 1.24%). CVaR(95%) = -0.0145.


MTUM: 60-day return history, mean=0.0013, std=0.0069.

Question:
Asset: MTUM
Daily returns (past 60 days): mean=0.0013, std=0.0069, min=-0.0112, max=0.0236
Market regime: bull
Recent filing/news:
[Kaggle 2025-09-05] ["Trump Warns of \u2018Fairly Substantial\u2019 Tariff on Semiconductors. What It Means for Chip Stocks. President Donald Trump said a tariff on imports of chips is coming \u201cvery shortly\u201d for companies that aren\u2019t shifting production to the U.S.", "Inside eBay\u2019s Quest to Become an AI Leader How the 30-year-old e-commerce giant is going all-in on artificial intelligence, hoping the technology can help it update its image and beat mounting competition.", "Trump Basks in Tech Leaders\u2019 Spending Vows at White House Dinner (Bloomberg) \u2014 Meta Platforms Inc.\u2019s (META) Mark Zuckerberg and Apple Inc.\u2019s (AAPL) Tim Cook joined tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Donald Trump that highlighted his deepening relationship with Silicon Valley. Most Read from Bloomberg One of World\u2019s Most Liveable Cities Ends Euro-a-Day Travel Pass Chicago\u2019s Citadel Center for Sale 3 Years After Miami Move Philadelphia Transit Cuts Portend \u2018Mayhem\u2019 for Commutes and Regional Economy One-Way Streets Are the Wrong Way to Tame Downtown Traffic Self-Driving Cars Take a Turn Toward the Villainous, in Movies and Real Life In his opening remarks, Trump addressed a key concern of tech companies: ensuring there\u2019s enough energy to meet surging power demands from the data centers behind the AI boom. \u201cWe\u2019re making it very easy for you in terms of electric capacity and getting it for you, getting your permits,\u201d Trump said in the White House State Dining Room. \u201cWe\u2019re leading China by a lot, by a really, by a great amount.\u201d Thursday\u2019s dinner marked a rare gathering in Washington of top executives and founders from some of the world\u2019s most valuable tech companies \u2014 all vying for an edge in the emerging field of AI. Attendees also included OpenAI Inc.\u2019s (OPAI.PVT) Sam Altman, Alphabet Inc.\u2019s (GOOG, GOOGL) Sundar Pichai and co-founder Sergey Brin, and Microsoft Corp.\u2019s (MSFT) Satya Nadella and Bill Gates. The president went around the table asking executives to talk about their plans. Corporate leaders took turns highlighting their efforts to expand in the US, with each expressing gratitude for administration policies they see as bolstering efforts to advance AI. Trump asked Zuckerberg to speak first. \u201cAll of the companies here are building, just making huge investments in the country in order to build out data centers and infrastructure to power the next wave of innovation,\u201d the Meta CEO told Trump. Pressed by the president on how much his company was investing, Zuckerberg said \u201cat least $600 billion\u201d through 2028. \u201cThat\u2019s a lot,\u201d Trump said. In recent days, the president has touted a massive data center Meta is building in Louisiana that will cost $50 billion. Trump has drawn tech executives into his orbit with an agenda aimed at lowering tax

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: -0.0084

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0084 (i.e., on a bad day with 5% probability, the loss exceeds 0.84%). CVaR(95%) = -0.0107.


BTC-USD: 60-day return history, mean=0.0001, std=0.0160.

Question:
Asset: BTC-USD
Daily returns (past 60 days): mean=0.0001, std=0.0160, 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.


SOL-USD: 60-day return history, mean=-0.0074, std=0.0443.

Question:
Asset: SOL-USD
Daily returns (past 60 days): mean=-0.0074, std=0.0443, min=-0.1463, max=0.1093
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: -0.0650

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0650 (i.e., on a bad day with 5% probability, the loss exceeds 6.50%). CVaR(95%) = -0.1128.


BNB-USD: 60-day return history, mean=0.0024, std=0.0191.

Question:
Asset: BNB-USD
Daily returns (past 60 days): mean=0.0024, std=0.0191, min=-0.0447, max=0.0608
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 BNB-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0226

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0226 (i.e., on a bad day with 5% probability, the loss exceeds 2.26%). CVaR(95%) = -0.0392.


EWJ: 60-day return history, mean=0.0011, std=0.0097.

Question:
Asset: EWJ
Daily returns (past 60 days): mean=0.0011, std=0.0097, min=-0.0241, max=0.0260
Market regime: bull
Recent filing/news:
[Kaggle 2025-07-16] ["Tariffs Are Showing Up in Inflation. Why Trump Can\u2019t Afford to Ditch Powell. House deals a blow to \u201cCrypto Week,\u201d ASML warns on 2026 growth, a promising Chinese weight-loss drug, and more news to start your day.", "Top Midday Gainers Longevity Health (XAGE) shares almost doubled amid heavy trading after the company said late Monday", "Why Is Jamf (JAMF) Stock Soaring Today Shares of apple device management company, Jamf (NASDAQ:JAMF) jumped 7.2% in the morning session after the company announced it expects to exceed the high end of its second-quarter 2025 guidance and revealed a new strategic reinvestment plan. The Apple device management company now anticipates both revenue and non-GAAP operating income to surpass its previous forecasts. The original guidance for the second quarter, which ended June 30, projected total revenue between $167.5 million and $169.5 million, with non-GAAP operating income of $29.5 million to $30.5 million. In a move to bolster long-term growth, Jamf also announced a strategic plan that includes reducing its workforce by about 6.4% and reallocating resources. The company will increase its focus on enterprise customers and accelerate investments in artificial intelligence. While the restructuring will result in one-time charges of $11.0 million to $12.5 million, investors appear to be focused on the positive outlook and the company's efforts to improve operational efficiency and drive future profitability. After the initial pop the shares cooled down to $8.30, up 1% from previous close. Is now the time to buy Jamf? Access our full analysis report here, it\u2019s free. Jamf\u2019s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today\u2019s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 4 days ago when the stock dropped 3.9% after a broader market sell-off triggered by renewed trade tensions. U.S. stock indices fell after the Trump administration announced intentions to impose a 35% tariff on many goods imported from Canada. This move is far more than a typical trade dispute; it targets the United States' largest and most deeply integrated trading partner. Canada is not merely a neighbor but a critical component of North American supply chains, particularly in sectors like automotive, energy, and critical minerals. This move sparked concerns about potential retaliatory actions and a wider impact on the North American economy, leading to a risk-off sentiment among investors. The S&P 500, Dow Jones Industrial Average, and Nasdaq all opened lower, pulling back from recent record highs and heading for their first weekly loss in three weeks. Jamf is down 41.1% since the beginning of the year, and at $8.30 per share, it is trading 56.1% below its 52-week high of $18.91 from July 2024. Investors who bought $1,000 worth of Jam

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: -0.0125

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0125 (i.e., on a bad day with 5% probability, the loss exceeds 1.25%). CVaR(95%) = -0.0200.


LINK-USD: 60-day return history, mean=-0.0012, std=0.0415.

Question:
Asset: LINK-USD
Daily returns (past 60 days): mean=-0.0012, std=0.0415, min=-0.0759, max=0.1469
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 LINK-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0597

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0597 (i.e., on a bad day with 5% probability, the loss exceeds 5.97%). CVaR(95%) = -0.0718.


VEA: 60-day return history, mean=0.0017, std=0.0104.

Question:
Asset: VEA
Daily returns (past 60 days): mean=0.0017, std=0.0104, min=-0.0276, max=0.0263
Market regime: sideways
Recent filing/news:
[Kaggle 2025-06-26] ["Top Research Reports for Apple, AMD & Applied Materials Wednesday, June 25, 2025 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple Inc. (AAPL), Advanced Micro Devices, Inc. (AMD) and Applied Materials, Inc. (AMAT), as well as two micro-cap stocks: Canterbury Park Holding Corp. (CPHC) and Where Food Comes From, Inc. (WFCF). Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today\u2019s research reports here >>> Ahead of Wall Street The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens and attempts to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning. You can read today's AWS here >> Pre-Markets Flattish Ahead of Late-Week Economic News Today's Featured Research Reports Shares of Apple have declined -4.7% over the past year against the Zacks Computer - Micro Computers industry\u2019s decline of -6.0%. The company is facing weakness in iPhone sales, particularly in China, which remains a concern. Increasing regulatory headwinds and tariffs are also a concern for investors. Nevertheless, Apple is benefiting from strong growth in Services revenues. It now has more than 1 billion paid subscribers across its Services portfolio, more than double what it had four years ago. The expanding content portfolio of Apple TV+ and Apple Arcade helped in driving subscriber growth. Apple expects the June quarter\u2019s (third-quarter fiscal 2025) revenues to grow low to mid-single digits on a year-over-year basis. The introduction of Apple Intelligence, an advanced personal intelligence system integrated into iOS 18, iPadOS 18 and macOS Sequoia, is helping Apple sell more of its devices, including iPhone. (You can read the full research report on Apple here >>>) AMD\u2019s shares have gained +17.5% over the year-to-date period against the Zacks Computer - Integrated Systems industry\u2019s gain of +28%. The company is benefiting from robust Data Center and Client revenues that fully offset sluggishness in the Gaming and Embedded segments. Data centers are benefiting from solid adoption of fifth-gen EPYC Turin processors and expanding Instinct AI accelerator deployments across hyperscalers and enterprises. New product launches, such as the Ryzen 9 9950 X3D and Radeon 9070 series, have been major growth drivers. Gross margin expanded for the fifth consecutive quarter, driven by a more diverse Ryzen mix. AM

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

Answer: -0.0200

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0200 (i.e., on a bad day with 5% probability, the loss exceeds 2.00%). CVaR(95%) = -0.0236.


AVAX-USD: 60-day return history, mean=-0.0095, std=0.0573.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0095, std=0.0573, min=-0.1606, max=0.1404
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 AVAX-USD. Express as a decimal (e.g., -0.02).

Answer: -0.1208

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.1208 (i.e., on a bad day with 5% probability, the loss exceeds 12.08%). CVaR(95%) = -0.1421.


QQQ: 60-day return history, mean=0.0019, std=0.0072.

Question:
Asset: QQQ
Daily returns (past 60 days): mean=0.0019, std=0.0072, min=-0.0199, max=0.0183
Market regime: bull
Recent filing/news:
[Kaggle 2025-09-05] ["Trump Warns of \u2018Fairly Substantial\u2019 Tariff on Semiconductors. What It Means for Chip Stocks. President Donald Trump said a tariff on imports of chips is coming \u201cvery shortly\u201d for companies that aren\u2019t shifting production to the U.S.", "Inside eBay\u2019s Quest to Become an AI Leader How the 30-year-old e-commerce giant is going all-in on artificial intelligence, hoping the technology can help it update its image and beat mounting competition.", "Trump Basks in Tech Leaders\u2019 Spending Vows at White House Dinner (Bloomberg) \u2014 Meta Platforms Inc.\u2019s (META) Mark Zuckerberg and Apple Inc.\u2019s (AAPL) Tim Cook joined tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Donald Trump that highlighted his deepening relationship with Silicon Valley. Most Read from Bloomberg One of World\u2019s Most Liveable Cities Ends Euro-a-Day Travel Pass Chicago\u2019s Citadel Center for Sale 3 Years After Miami Move Philadelphia Transit Cuts Portend \u2018Mayhem\u2019 for Commutes and Regional Economy One-Way Streets Are the Wrong Way to Tame Downtown Traffic Self-Driving Cars Take a Turn Toward the Villainous, in Movies and Real Life In his opening remarks, Trump addressed a key concern of tech companies: ensuring there\u2019s enough energy to meet surging power demands from the data centers behind the AI boom. \u201cWe\u2019re making it very easy for you in terms of electric capacity and getting it for you, getting your permits,\u201d Trump said in the White House State Dining Room. \u201cWe\u2019re leading China by a lot, by a really, by a great amount.\u201d Thursday\u2019s dinner marked a rare gathering in Washington of top executives and founders from some of the world\u2019s most valuable tech companies \u2014 all vying for an edge in the emerging field of AI. Attendees also included OpenAI Inc.\u2019s (OPAI.PVT) Sam Altman, Alphabet Inc.\u2019s (GOOG, GOOGL) Sundar Pichai and co-founder Sergey Brin, and Microsoft Corp.\u2019s (MSFT) Satya Nadella and Bill Gates. The president went around the table asking executives to talk about their plans. Corporate leaders took turns highlighting their efforts to expand in the US, with each expressing gratitude for administration policies they see as bolstering efforts to advance AI. Trump asked Zuckerberg to speak first. \u201cAll of the companies here are building, just making huge investments in the country in order to build out data centers and infrastructure to power the next wave of innovation,\u201d the Meta CEO told Trump. Pressed by the president on how much his company was investing, Zuckerberg said \u201cat least $600 billion\u201d through 2028. \u201cThat\u2019s a lot,\u201d Trump said. In recent days, the president has touted a massive data center Meta is building in Louisiana that will cost $50 billion. Trump has drawn tech executives into his orbit with an agenda aimed at lowering tax

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: -0.0086

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0086 (i.e., on a bad day with 5% probability, the loss exceeds 0.86%). CVaR(95%) = -0.0151.


VTI: 60-day return history, mean=0.0008, std=0.0133.

Question:
Asset: VTI
Daily returns (past 60 days): mean=0.0008, std=0.0133, min=-0.0335, max=0.0264
Market regime: sideways
Recent filing/news:
[Kaggle 2025-06-24] ["Trump\u2019s Chip Tariff Threat Sparks Pushback From Auto Industry to Tech (Bloomberg) -- Blowback to President Donald Trump\u2019s idea of tariffs on imported semiconductors is proving to be broad and deep, stretching from auto companies and boat makers to the technology industry and crypto enthusiasts, according to a review of more than 150 public comments on the proposal. Most Read from Bloomberg Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US State Budget Wounds Intensify From Trump, DOGE Policy Shifts US Renters Face Storm of Rising Costs Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags The possible levy of up to 25% has united rivals like Tesla Inc., General Motors Co. and Ford Motor Co. in voicing reservations. It\u2019s brought together industry lobbies from the Crypto Council for Innovation to the National Marine Manufacturers Association. Even Taiwan and the People\u2019s Republic of China are finding common cause, along with predictable parts of the tech sector including chipmakers and wireless providers. The reason is that chips are now in almost everything: refrigerators and microwaves, tire pressure sensors and navigation systems, electronic bidets and sonar equipment and, of course, smartphones and computers. Tariffs threaten to snarl supply lines and jack up costs for consumers. \u201cThere\u2019s a large mismatch between the amount of chips we use in this country in various products and the supply created here in the US,\u201d JoAnne Feeney, a partner and portfolio manager at Advisors Capital Management, said in an interview. \u201cPutting a tax on those imports will simply raise the cost, and that\u2019s not a good thing for consumers.\u201d Case in point is the marine association, which warns the impact would be felt by more than 1,300 manufacturers who face higher expenses for essentials like propulsion technology, engines and GPS systems. \u201cThese systems are not optional luxuries \u2014 they are fundamental to safety, function and performance,\u201d the association said. \u201cMany components have no US equivalent or are only available from highly concentrated suppliers overseas.\u201d The boating sector\u2019s concerns were among comments from 154 stakeholders submitted to a Commerce Department review of whether to slap tariffs on chips as part of Trump\u2019s campaign to redraw global supply lines and boost domestic manufacturing. Predictable tech sources weighed in, including chipmakers Taiwan Semiconductor Manufacturing Co. and Intel Corp. But feedback also landed from a wide spectrum of sectors, along with trading partners like Japan and Brazil. The companies, trade groups and individuals who commented on the chips investigation largely signaled support for the president\u2019s vision of deepening the US manufacturing base and expanding the American workforce. Yet most expressed concern over the potential consequences and urged making any levies that emerge as targeted as pos

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: -0.0245

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0245 (i.e., on a bad day with 5% probability, the loss exceeds 2.45%). CVaR(95%) = -0.0335.


LQD: 60-day return history, mean=0.0006, std=0.0034.

Question:
Asset: LQD
Daily returns (past 60 days): mean=0.0006, std=0.0034, min=-0.0061, max=0.0089
Market regime: bull

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

Answer: -0.0060

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0060 (i.e., on a bad day with 5% probability, the loss exceeds 0.60%). CVaR(95%) = -0.0060.


AVAX-USD: 60-day return history, mean=-0.0001, std=0.0461.

Question:
Asset: AVAX-USD
Daily returns (past 60 days): mean=-0.0001, std=0.0461, min=-0.0876, max=0.1321
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.


IYR: 60-day return history, mean=0.0000, std=0.0127.

Question:
Asset: IYR
Daily returns (past 60 days): mean=0.0000, std=0.0127, min=-0.0339, max=0.0302
Market regime: sideways

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

Answer: -0.0270

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0270 (i.e., on a bad day with 5% probability, the loss exceeds 2.70%). CVaR(95%) = -0.0308.


XLV: 60-day return history, mean=0.0011, std=0.0098.

Question:
Asset: XLV
Daily returns (past 60 days): mean=0.0011, std=0.0098, min=-0.0284, max=0.0244
Market regime: bull
Recent filing/news:
[Kaggle 2025-09-05] ["Trump Warns of \u2018Fairly Substantial\u2019 Tariff on Semiconductors. What It Means for Chip Stocks. President Donald Trump said a tariff on imports of chips is coming \u201cvery shortly\u201d for companies that aren\u2019t shifting production to the U.S.", "Inside eBay\u2019s Quest to Become an AI Leader How the 30-year-old e-commerce giant is going all-in on artificial intelligence, hoping the technology can help it update its image and beat mounting competition.", "Trump Basks in Tech Leaders\u2019 Spending Vows at White House Dinner (Bloomberg) \u2014 Meta Platforms Inc.\u2019s (META) Mark Zuckerberg and Apple Inc.\u2019s (AAPL) Tim Cook joined tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Donald Trump that highlighted his deepening relationship with Silicon Valley. Most Read from Bloomberg One of World\u2019s Most Liveable Cities Ends Euro-a-Day Travel Pass Chicago\u2019s Citadel Center for Sale 3 Years After Miami Move Philadelphia Transit Cuts Portend \u2018Mayhem\u2019 for Commutes and Regional Economy One-Way Streets Are the Wrong Way to Tame Downtown Traffic Self-Driving Cars Take a Turn Toward the Villainous, in Movies and Real Life In his opening remarks, Trump addressed a key concern of tech companies: ensuring there\u2019s enough energy to meet surging power demands from the data centers behind the AI boom. \u201cWe\u2019re making it very easy for you in terms of electric capacity and getting it for you, getting your permits,\u201d Trump said in the White House State Dining Room. \u201cWe\u2019re leading China by a lot, by a really, by a great amount.\u201d Thursday\u2019s dinner marked a rare gathering in Washington of top executives and founders from some of the world\u2019s most valuable tech companies \u2014 all vying for an edge in the emerging field of AI. Attendees also included OpenAI Inc.\u2019s (OPAI.PVT) Sam Altman, Alphabet Inc.\u2019s (GOOG, GOOGL) Sundar Pichai and co-founder Sergey Brin, and Microsoft Corp.\u2019s (MSFT) Satya Nadella and Bill Gates. The president went around the table asking executives to talk about their plans. Corporate leaders took turns highlighting their efforts to expand in the US, with each expressing gratitude for administration policies they see as bolstering efforts to advance AI. Trump asked Zuckerberg to speak first. \u201cAll of the companies here are building, just making huge investments in the country in order to build out data centers and infrastructure to power the next wave of innovation,\u201d the Meta CEO told Trump. Pressed by the president on how much his company was investing, Zuckerberg said \u201cat least $600 billion\u201d through 2028. \u201cThat\u2019s a lot,\u201d Trump said. In recent days, the president has touted a massive data center Meta is building in Louisiana that will cost $50 billion. Trump has drawn tech executives into his orbit with an agenda aimed at lowering tax

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

Answer: -0.0146

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0146 (i.e., on a bad day with 5% probability, the loss exceeds 1.46%). CVaR(95%) = -0.0201.


MTUM: 60-day return history, mean=0.0002, std=0.0092.

Question:
Asset: MTUM
Daily returns (past 60 days): mean=0.0002, std=0.0092, min=-0.0240, max=0.0189
Market regime: sideways
Recent filing/news:
[SEC 10-Q WMT 2025-12-03] wmt-20251031 0000104169 1/31 2026 Q3 false 178 340 294 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure wmt:state wmt:territory wmt:case wmt:classAction wmt:securitiesClassAction wmt:pharmacist wmt:employee wmt:phase wmt:supplierContribution iso4217:MXN wmt:segment 0000104169 2025-02-01 2025-10-31 0000104169 wmt:CommonStockparvalue0.10pershareMember 2025-02-01 2025-10-31 0000104169 wmt:A2.550NotesDue2026Member 2025-02-01 2025-10-31 0000104169 wmt:A1050NotesDue2026Member 2025-02-01 2025-10-31 0000104169 wmt:A1500NotesDue2028Member 2025-02-01 2025-10-31 0000104169 wmt:A4875NotesDue2029Member 2025-02-01 2025-10-31 0000104169 wmt:A5750NotesDue2030Member 2025-02-01 2025-10-31 0000104169 wmt:A1800NotesDue2031Member 2025-02-01 2025-10-31 0000104169 wmt:A5625NotesDue2034Member 2025-02-01 2025-10-31 0000104169 wmt:A5250NotesDue2035Member 2025-02-01 2025-10-31 0000104169 wmt:A4875NotesDue2039Member 2025-02-01 2025-10-31 0000104169 2025-12-02 0000104169 2025-08-01 2025-10-31 0000104169 2024-08-01 2024-10-31 0000104169 2024-02-01 2024-10-31 0000104169 2025-10-31 0000104169 2025-01-31 0000104169 2024-10-31 0000104169 us-gaap:CommonStockMember 2025-01-31 0000104169 us-gaap:AdditionalPaidInCapitalMember 2025-01-31 0000104169 us-gaap:RetainedEarningsMember 2025-01-31 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-31 0000104169 us-gaap:ParentMember 2025-01-31 0000104169 us-gaap:NoncontrollingInterestMember 2025-01-31 0000104169 us-gaap:RetainedEarningsMember 2025-02-01 2025-04-30 0000104169 us-gaap:ParentMember 2025-02-01 2025-04-30 0000104169 us-gaap:NoncontrollingInterestMember 2025-02-01 2025-04-30 0000104169 2025-02-01 2025-04-30 0000104169 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-02-01 2025-04-30 0000104169 us-gaap:CommonStockMember 2025-02-01 2025-04-30 0000104169 us-gaap:AdditionalPaidInCapitalMember 2025-02-01 2025-04-30 0000104169 us-gaap:CommonStockMember 2025-04-30 0000104169 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us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-08-01 2024-10-31 0000104169 us- [...TRUNCATED...] port, 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 10.1* Retirement Agreement between the Company and Doug McMillon dated November 13, 2025 Exhibit 10.2* Form of Walmart Inc. Stock Incentive Plan of 2025 Global Restricted Stock Notification of Award and Terms and Conditions of Award Exhibit 10.3* Form of Walmart Inc. Stock Incentive Plan of 2025 Global Share-Settled Performance-Based Restricted Stock Unit Notification of Award and Terms and Condition s of Award 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* Non-MDL Opioid-Related Litigation Case Citations 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, 2025, 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 3, 2025 By: /s/ C. Douglas McMillon C. Douglas McMillon President and Chief Executive Officer (Principal Executive Officer) Date: December 3, 2025 By: /s/ John David Rainey John David Rainey Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: December 3, 2025 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 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.


DOT-USD: 60-day return history, mean=-0.0011, std=0.0350.

Question:
Asset: DOT-USD
Daily returns (past 60 days): mean=-0.0011, std=0.0350, min=-0.0949, max=0.0849
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 DOT-USD. Express as a decimal (e.g., -0.02).

Answer: -0.0520

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0520 (i.e., on a bad day with 5% probability, the loss exceeds 5.20%). CVaR(95%) = -0.0751.


XLI: 60-day return history, mean=-0.0004, std=0.0111.

Question:
Asset: XLI
Daily returns (past 60 days): mean=-0.0004, std=0.0111, min=-0.0336, max=0.0203
Market regime: bear
Recent filing/news:
[Kaggle 2025-04-03] SMCI Stock Set to Transition from Micro to Mighty as Wall St. Analysts Eye 40% Upside Super Micro Computer (SMCI) might have the word “micro” in its name, but make no mistake—this Silicon Valley-based server and storage powerhouse has been delivering mighty growth over the past three years. With the boom in AI training, cloud data centers, and enterprise IT, Super Micro has surged 829%, alongside some of the hottest trends in technology. Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. While the company’s most explosive alpha years—2023 and 2024—are now behind us, I believe the runway is far from finished. Based on projected earnings per share growth and only a slight expansion in the price-to-earnings ratio, I’m targeting a 40% return from the stock over the next twelve months. Let’s start with the obvious: Super Micro’s growth has been anything but modest. The surge in artificial intelligence workloads and expansion in cloud infrastructure has created ideal conditions for the company to thrive. Management has been bold, too. They’ve described the AI revolution as “much more impactful than the Industrial Revolution,” and they’re positioning Super Micro accordingly. If that thesis holds true—and I believe it does—then the company is in a superb position to capitalize over the coming years. One specific area where Super Micro stands out is liquid-cooled server design. According to the company’s CEO, roughly 30% of new data centers are expected to adopt direct liquid cooling over the next twelve months. That’s significant—and Super Micro is already a frontrunner in this space. According to Main Street Data, SMCI’s revenues have grown as segment proportions have remained broadly consistent. Let’s talk numbers. In FY2024, SMCI posted 110% year-over-year revenue growth. GAAP net income also surged, climbing 80% from the previous year. Looking further back, from FY2021 through FY2024, Super Micro pulled off a stunning 60% compound annual growth rate in revenue—while only growing its operating expenses by 25%. The company is scaling with discipline and efficiency, an increasingly rare feat in today’s hyper-growth tech landscape. We’re already well into FY2025, with Q3 results expected in May. For the full year, management is guiding toward approximately $24 billion in revenue, representing about 60% year-over-year growth. They’re also quite bullish about FY2026, setting expectations for $40 billion in annual revenue. That forecast may be optimistic, but the broader growth trajectory is undeniably strong—and the valuation doesn’t seem overstretched given the potential upside ahead. Currently, Super Micro stock is trading at ~$35 per share after a sharp pullback, meaning it’s priced at less than its trailing twelve-month revenue—a clear signal of value. But investor sentiment has understandably cooled. Th

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

Answer: -0.0197

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0197 (i.e., on a bad day with 5% probability, the loss exceeds 1.97%). CVaR(95%) = -0.0255.


USMV: 60-day return history, mean=0.0003, std=0.0052.

Question:
Asset: USMV
Daily returns (past 60 days): mean=0.0003, std=0.0052, min=-0.0114, max=0.0124
Market regime: bull
Recent filing/news:
[Kaggle 2025-09-05] ["Trump Warns of \u2018Fairly Substantial\u2019 Tariff on Semiconductors. What It Means for Chip Stocks. President Donald Trump said a tariff on imports of chips is coming \u201cvery shortly\u201d for companies that aren\u2019t shifting production to the U.S.", "Inside eBay\u2019s Quest to Become an AI Leader How the 30-year-old e-commerce giant is going all-in on artificial intelligence, hoping the technology can help it update its image and beat mounting competition.", "Trump Basks in Tech Leaders\u2019 Spending Vows at White House Dinner (Bloomberg) \u2014 Meta Platforms Inc.\u2019s (META) Mark Zuckerberg and Apple Inc.\u2019s (AAPL) Tim Cook joined tech industry leaders in touting their pledges to boost spending in the US on artificial intelligence during a dinner hosted by President Donald Trump that highlighted his deepening relationship with Silicon Valley. Most Read from Bloomberg One of World\u2019s Most Liveable Cities Ends Euro-a-Day Travel Pass Chicago\u2019s Citadel Center for Sale 3 Years After Miami Move Philadelphia Transit Cuts Portend \u2018Mayhem\u2019 for Commutes and Regional Economy One-Way Streets Are the Wrong Way to Tame Downtown Traffic Self-Driving Cars Take a Turn Toward the Villainous, in Movies and Real Life In his opening remarks, Trump addressed a key concern of tech companies: ensuring there\u2019s enough energy to meet surging power demands from the data centers behind the AI boom. \u201cWe\u2019re making it very easy for you in terms of electric capacity and getting it for you, getting your permits,\u201d Trump said in the White House State Dining Room. \u201cWe\u2019re leading China by a lot, by a really, by a great amount.\u201d Thursday\u2019s dinner marked a rare gathering in Washington of top executives and founders from some of the world\u2019s most valuable tech companies \u2014 all vying for an edge in the emerging field of AI. Attendees also included OpenAI Inc.\u2019s (OPAI.PVT) Sam Altman, Alphabet Inc.\u2019s (GOOG, GOOGL) Sundar Pichai and co-founder Sergey Brin, and Microsoft Corp.\u2019s (MSFT) Satya Nadella and Bill Gates. The president went around the table asking executives to talk about their plans. Corporate leaders took turns highlighting their efforts to expand in the US, with each expressing gratitude for administration policies they see as bolstering efforts to advance AI. Trump asked Zuckerberg to speak first. \u201cAll of the companies here are building, just making huge investments in the country in order to build out data centers and infrastructure to power the next wave of innovation,\u201d the Meta CEO told Trump. Pressed by the president on how much his company was investing, Zuckerberg said \u201cat least $600 billion\u201d through 2028. \u201cThat\u2019s a lot,\u201d Trump said. In recent days, the president has touted a massive data center Meta is building in Louisiana that will cost $50 billion. Trump has drawn tech executives into his orbit with an agenda aimed at lowering tax

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

Answer: -0.0086

Explanation: Historical simulation VaR at 95%: sort the 60 daily returns and take the 5th percentile. VaR(95%) = -0.0086 (i.e., on a bad day with 5% probability, the loss exceeds 0.86%). CVaR(95%) = -0.0098.