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Nancy, I want to zoom out just a bit and get your take on how any policies to come from this administration could impact a slew of your investments. I know one of the things you mentioned in your notes is the amount of money that the government spends in IT and tech annually, and some of the stocks that you cover here are beneficiaries of that IT spend. Should investors be concerned about the Department of Government efficiency maybe becoming too efficient and breaking in some of that spending?

That's a great question. Um, I I don't think so. I think at the margin where we're going to see spending, and we've seen it with Palantir, is that the government is going to is going to, you know, really focus on spending efficiently, which means uh productivity improving uh technologies, and those are many of the names that we own. If they are cutting jobs, uh then they need people to be more productive. And I think that is what we will see. Um, I had a friend who just recently um applied for so security. It took three months to get approved and multiple iterations, long periods of silence, back and forth, and I think that that's what they're what we're talking about. Like that should be an online application, which, by the way, it is, but then you have to go through a manual process. So I I do think that that's that's going to be an area that will benefit many of the names like service now. Uh we don't actually own Palantir. We missed that one, but uh like Palantir, we're certainly looking for an opportunity to get in. And then many of the infrastructure names like Nvidia uh and among others, Broadcom.

Nancy, I'm curious how you're looking at a name like Intel. And I bring that up just given the gains that we saw some excitement on the heels of uh the commentary from Vice President Pence just in terms of the Trump administration's commitment to manufacturing so much of the advanced uh AI technology here in the US. Is there an opportunity ahead for Intel, and could this be a good buying opportunity here for this stock?

So Intel looks, we we're not in the stock. We got out about two or three years ago. It was clear to us that Pat Gelsinger wasn't going to be able to to to turn the company around. Um, whenever you get government subsidies, which is what he did, he went hat in hand to Washington to get subsidies to to manufacture in the US, and many of those plants are being built here in Arizona. Um, but it reminds me a lot of Xerox. So yeah, Xerox developed the mouse, but they did not monetize the mouse. That was Microsoft among others. So I I just worry that this company is so far behind. Can you make money on a trade? I think you can. Can you make money for the long term? I don't think so, and I think you're I mean, you're not getting paid to wait anymore via the dividend. So it's one we just think there's better places to be.

All right, Nancy. Thanks so much for joining us this morning. Always appreciate it.

Thanks so much for having me.