Document

11-K 1 dgx12312024profitsharingpl.htm 11-K Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 11-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2024

o TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______to _______

Commission file number: 001-12215

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

THE QUEST DIAGNOSTICS PROFIT SHARING PLAN

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

QUEST DIAGNOSTICS INCORPORATED

500 PLAZA DRIVE

SECAUCUS, NJ 07094

The Quest Diagnostics Profit Sharing Plan

Index to Financial Statements and Supplemental Schedule


			Page
Financial Statements

Report of Independent Registered Public Accounting Firm			1

Statements of Net Assets Available for Benefits as of December 31, 2024 and 2023			2

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2024			3

Notes to Financial Statements			4

Supplemental Schedule*

Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year) as of December 31, 2024			9

Signature			14

* Other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable.

Exhibit
Exhibit 23 - Consent of Independent Registered Public Accounting Firm

Report of Independent Registered Public Accounting Firm

Plan Administrator and Plan Participants

The Quest Diagnostics Profit Sharing Plan

Opinion on the financial statements

We have audited the accompanying statements of net assets available for benefits of The Quest Diagnostics Profit Sharing Plan (the “Plan”) as of December 31, 2024 and 2023, the related statement of changes in net assets available for benefits for the year ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

Basis for opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental information

The schedule of assets (held at end of year) as of December 31, 2024 (“supplemental information”) has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ GRANT THORNTON LLP

We have served as the Plan's auditor since 2008.

Melville, New York

June 20, 2025

The Quest Diagnostics Profit Sharing Plan

Statements of Net Assets Available for Benefits

December 31, 2024 and 2023

(in thousands)


	2024		2023
Assets

Investments, at fair value	$	5,483,306	$	5,050,535
Receivables
Employer contributions receivable	—		31
Notes receivable from participants	70,809		75,659
Investment related receivables	1,031		770
Total receivables	71,840		76,460
Total assets	5,555,146		5,126,995

Liabilities
Investment related payables	1,376		850



Net assets available for benefits	$	5,553,770	$	5,126,145

The accompanying notes are an integral part of these financial statements.

The Quest Diagnostics Profit Sharing Plan

Statement of Changes in Net Assets Available for Benefits

For the Year Ended December 31, 2024

(in thousands)


Additions:
Investment income
Net appreciation in fair value of investments	$	734,863
Dividends and interest	20,076
Total investment income	754,939

Interest income on notes receivable from participants	5,420

Contributions
Employer	100,667
Participants	191,222
Rollovers	42,978
Total contributions	334,867

Total additions	1,095,226


Deductions:
Benefits paid to participants	665,328
Administrative expenses	2,273
Total deductions	667,601

Net increase	427,625



Net assets available for benefits:
Beginning of year	5,126,145

End of year	$	5,553,770

The accompanying notes are an integral part of these financial statements.

The Quest Diagnostics Profit Sharing Plan

December 31, 2024 and 2023

Notes to Financial Statements (dollars in thousands)

1. Description of the Plan

Background - The Quest Diagnostics Profit Sharing Plan (the “Plan”) is a defined contribution plan. The Plan was established by Quest Diagnostics Incorporated ("Quest Diagnostics" or the "Company"), which is the parent entity of a controlled group of corporations and other entities (the "Quest Control Group"). Effective August 15, 2021, sponsorship of the Plan was transferred from the Company to Quest Diagnostics Clinical Laboratories, Inc. (the "Plan Sponsor"), a wholly owned subsidiary of the Company. The Plan provides retirement benefits to eligible employees of the Quest Control Group. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The following description of the Plan provides only general information. Participants should refer to the plan document for a more complete description of the Plan's provisions.

Eligibility and Participant Contributions - The Plan provides for participant-directed investment of their voluntary contributions and employer matching contributions in a number of investment funds. Eligible employees can participate in the Plan as soon as administratively feasible upon becoming an employee of a member of the Quest Control Group. Participants may contribute an amount between 1% and 35% of their eligible compensation, as defined, for the contribution period. Catch-up contributions, as defined in the Internal Revenue Code (the "Code"), are permissible for eligible participants. Participants may modify their contribution percentage at any time. Participants may also choose to make rollover contributions to the Plan of amounts received from an eligible defined benefit or defined contribution plan maintained by another company. Contributions are subject to Code limitations.

Employer Matching Contributions - Members of the Quest Control Group match 100% of a participant's contribution, up to 5% of eligible compensation, in cash after the participant completes 12 months of service, as defined, with the Quest Control Group. Employer matching contributions are remitted to the Plan at the same time that the corresponding participants' contributions are remitted.

Participant Accounts - A separate individual account is established for each Plan participant. Each participant's account is credited with the participant's contributions and the employer matching contributions, plus the allocation of investment earnings, gains and losses and expenses, based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Revenue sharing credits, which are considered parties-in-interest transactions, are allocated back to participants investing in respective investment funds which generate such credits.

Vesting - Participants immediately vest in their voluntary contributions and employer matching contributions plus actual earnings thereon. Certain participants who were active in plans sponsored by previous employers have vesting requirements applied to their previous employer contribution accounts consistent with the vesting requirements in effect before the assets were merged into the Plan.

Investment Options - Participants may elect to have their voluntary contributions and employer matching contributions invested in any or all of the available investment options, most of which are managed by Fidelity Management & Research Company (“FMRC”) and its affiliates. Participants may also elect to have their voluntary contributions and employer matching contributions invested in shares of the Company's common stock through the Quest Diagnostics stock fund. Participants have the ability to modify their investment elections daily, subject to certain short-term trading restrictions imposed by FMRC and its affiliates and the Company's securities trading policy, which prohibits trading in the Company's common stock on a short-term basis and while in possession of material non-public information about the Company.

Participants cannot contribute greater than 25% per pay period of pre-tax contributions into the Quest Diagnostics stock fund. In addition, participants can transfer monies into the Quest Diagnostics stock fund only to the extent the percentage of holdings in the Quest Diagnostics stock fund after the transfer remains below 25% of the participant's entire account balance.

Participants may elect to receive their dividends on investments in the Quest Diagnostics stock fund as a taxable cash payment or to have those dividends automatically reinvested.

The Quest Diagnostics Profit Sharing Plan

December 31, 2024 and 2023

Notes to Financial Statements (dollars in thousands) - continued

Distribution Options - Participants can elect to have their benefit distributions, equal to the value of the vested portion of their account balance, paid in the form of a partial or lump sum distribution, a direct rollover into another eligible retirement plan or traditional individual retirement account, installment payments, or for certain assets, an annuity.

Withdrawals - Withdrawals may be made for qualified emergencies, as defined in the Code. Depending upon the type of withdrawal and the status of the contribution, penalties upon withdrawal may apply. Participants may also begin to make withdrawals without penalty at age 59 ½, subject to certain limitations as defined by the Plan.

Forfeitures - Employer contributions in forfeited nonvested accounts may be used to reduce future employer contributions or pay the Plan's expenses. The forfeiture activity and account balance was not material as of and for the years ended December 31, 2024 and 2023.

Parties-in-Interest - Certain investments of the Plan, as of December 31, 2024 and 2023, are shares of mutual funds and collective funds managed by FMRC and its affiliates. These transactions qualify as party-in-interest transactions.

The Company also is a party-in-interest to the Plan under the definition provided in Section 3(14) of ERISA. Therefore, Quest Diagnostics stock transactions qualify as party-in-interest transactions. As of December 31, 2024 and 2023, the total fair value of the Plan's investment in Quest Diagnostics stock was $295,103 and $295,841, respectively. During 2024, there were no purchases of Quest Diagnostics stock by the Plan and sales of Quest Diagnostics stock by the Plan were $26,895.

Notes Receivable from Participants - Participants are permitted to obtain loans in amounts not less than one thousand dollars and up to the lesser of (1) fifty thousand dollars, subject to certain limitations as defined by the Plan, or (2) 50% of the participant's vested portion of their account value. Except with respect to pre-existing loans transferred or merged into the Plan and as set forth below, a participant may have only one outstanding loan at a time and loans are repayable over a period of up to five years, unless the proceeds are used to purchase a primary residence, in which case a period of up to ten years (effective January 2025, thirty years) is permitted. Loans are secured by one-half of a participant's vested account balance and bear interest at prime plus 1%. Rates range from 3.25% to 9.50%; maturities vary by participant. Principal and interest are repaid to the Plan through payroll deductions for active employees. Participants can elect to pay the entire outstanding balance of a loan directly to Fidelity Management Trust Company ("FMTC"). Actively employed participants can also submit a partial loan repayment directly to FMTC outside the normal payroll deductions, accelerating the payoff date. Participants who are no longer active employees may continue to repay outstanding loan balances directly to FMTC.

In addition, notes receivable from participants qualify as party-in-interest transactions. As of December 31, 2024 and 2023, the carrying value of the Plan's notes receivable from participants was $70,809 and $75,659, respectively.

Plan Administration - The plan administrator is the Benefits Administration Committee (the "Plan Administrator"), which is appointed by the Plan Sponsor's Board of Directors. The Plan's trustee and recordkeeper for the Plan investments are FMTC and Fidelity Investments Institutional Operations Company LLC, respectively.

Tax Status - The Internal Revenue Service (“IRS”) has determined and informed the Company by letter dated September 22, 2014, that the Plan and related trust are designed in accordance with applicable sections of the Code. The Plan Sponsor believes that the Plan, which has been amended since the IRS determination, continues to be designed and operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and related trust is tax-exempt.

Accounting principles generally accepted in the United States (“US GAAP”) requires the Plan Administrator to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2024 and 2023 there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing authorities; however, there are currently no audits for any tax periods in progress.

Administrative Expenses - Plan administrative expenses are paid by the Company to the extent not paid or offset by the Plan or the Quest Control Group. Fees associated with the administration of notes receivable from participants are charged

The Quest Diagnostics Profit Sharing Plan

December 31, 2024 and 2023

Notes to Financial Statements (dollars in thousands) - continued

directly against participant accounts. These fees are included in administrative expenses and are expensed when incurred. Investment related expenses are included in net appreciation of fair value of investments.

Investment Management Fees - Investment management fees and operating expenses charged to the Plan for investments in the Plan are deducted from income earned on a daily basis and are not separately reflected. Consequently, investment management fees and operating expenses are reflected as a reduction of investment return for such investments.

Plan Termination - The Plan Sponsor intends to continue the Plan indefinitely, but reserves the right to change or discontinue the Plan at its discretion. Participants will become fully vested in their rights under the Plan if it is terminated or if employer matching contributions are completely discontinued.

2. Summary of Significant Accounting Policies

Basis of Presentation - The Plan maintains its financial records on the accrual basis of accounting.

Use of Estimates - The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of additions to and deductions from net assets during the reporting period. Actual results could differ from those estimates.

Risks and Uncertainties - Certain underlying investment securities are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, changes in these risks could materially affect participants' account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits.

Benefits paid to participants - Benefits payments to participants are recorded when paid.

Valuation of Investments - Investments are stated at fair value at year end. Refer to Note 3 for additional information related to the valuation of Plan investments.

Security Transactions and Income - Purchases and sales of securities are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income from investments is recorded as earned on an accrual basis.

Net appreciation in fair value of investments represents the Plan's net realized and unrealized gains (losses) on investments held by the Plan.

Notes Receivable from Participants - Notes receivable from participants are valued at their unpaid principal balance, plus any accrued but unpaid interest. Interest income from notes receivable from participants is recorded on an accrual basis.

3. Fair Value Measurements

Fair value measurements are based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, and are determined by either the principal market or the most advantageous market.

Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below with Level 1 having the highest priority and Level 3 having the lowest.

The Quest Diagnostics Profit Sharing Plan

December 31, 2024 and 2023

Notes to Financial Statements (dollars in thousands) - continued


Level 1:			Quoted prices in active markets for identical assets or liabilities.

Level 2:			Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.

Level 3:			Valuations derived from valuation techniques in which one or more significant inputs are unobservable.

During the year ended December 31, 2024, there were no transfers between levels. During 2024, the Plan replaced the majority of its mutual fund investment options with collective funds.

The following table provides a summary of the assets in the Plan that are measured at fair value on a recurring basis:


			Basis of Fair Value Measurements

December 31, 2024	Total		Level 1		Level 2		Level 3
Mutual funds	$	204,410	$	204,410	$	—	$	—
Quest Diagnostics common stock	295,103		295,103		—		—
Other common stock	282,820		282,743		—		77


Subtotal	$	782,333	$	782,256	$	—	$	77

Investments measured at NAV as a practical expedient: (A)	4,700,973

Total investments, at fair value	$	5,483,306


			Basis of Fair Value Measurements
December 31, 2023	Total		Level 1		Level 2		Level 3
Mutual funds	$	2,897,613	$	2,897,613	$	—	$	—
Quest Diagnostics common stock	295,841		295,841		—		—
Other common stock	246,567		246,498		—		69


Subtotal	$	3,440,021	$	3,439,952	$	—	$	69

Investments measured at NAV as a practical expedient: (A)	1,610,514

Total investments, at fair value	$	5,050,535

(A) Certain investments, including the Collective Funds, that were measured at fair value using the net asset value ("NAV") per share (or its equivalent) practical expedient were not classified in the fair value hierarchy. There are no unfunded commitments or redemption restrictions related to these investments.

Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used as of December 31, 2024 and 2023.

Mutual Funds: Valued at the daily closing price reported by the fund. Mutual funds held by the Plan are open-ended mutual funds that are registered with the Security and Exchange Commission ("SEC") and are required to publish their NAV on a daily basis and to transact at that price. The mutual funds held by the Plan are classified as level 1.

The Quest Diagnostics Profit Sharing Plan

December 31, 2024 and 2023

Notes to Financial Statements (dollars in thousands) - continued

Quest Diagnostics Common Stock and Other Common Stock classified as level 1: Valued at the closing price reported on the active market on which the individual securities are traded.

Other Common Stock classified as level 3: Valued using a valuation technique based on available information, which may consider market-based valuation multiples; a discount or premium from market value of a similar, freely traded equity security of the same issuer; or some combination. These fair value measurements are classified within Level 3 of the fair value hierarchy as the fair value is based on significant inputs that are not observable.

Collective Funds: Valued at NAV per unit as determined by the trustee at year end. The NAV is used as a practical expedient to estimate fair value.

The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

4. Commitments and Contingencies

In 2020, two putative class action lawsuits were filed in the U.S. District Court for New Jersey against the Company and other defendants with respect to the Plan. The complaint alleges, among other things, that the fiduciaries of the Plan breached their duties by failing to disclose the expenses and risks of plan investment options, allowing unreasonable administration expenses to be charged to plan participants, and selecting and retaining high cost and poor performing investments. The Plan itself is not named as a defendant. In October 2020, the court consolidated the two lawsuits under the caption In re: Quest Diagnostics ERISA Litigation and plaintiffs filed a consolidated amended complaint. In May 2021, the court denied the Company's motion to dismiss the complaint. After discovery was completed, the Company filed a motion for summary judgment, which was granted. The matter is on appeal.

The Quest Diagnostics Profit Sharing Plan

EIN: #38-2084239 Plan: #333

Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)

December 31, 2024 (dollars in thousands)

(a)

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

(d)
Cost

(e)
Current
Value

Fidelity Freedom Blend 2010 T

Collective Fund

***

18,786

Fidelity Freedom Blend 2015 T

Collective Fund

***

57,543

Fidelity Freedom Blend 2020 T

Collective Fund

***

164,860

Fidelity Freedom Blend 2025 T

Collective Fund

***

399,910

Fidelity Freedom Blend 2030 T

Collective Fund

***

580,480

Fidelity Freedom Blend 2035 T

Collective Fund

***

497,680

Fidelity Freedom Blend 2040 T

Collective Fund

***

380,813

Fidelity Freedom Blend 2045 T

Collective Fund

***

285,380

Fidelity Freedom Blend 2050 T

Collective Fund

***

186,708

Fidelity Freedom Blend 2055 T

Collective Fund

***

114,503

Fidelity Freedom Blend 2060 T

Collective Fund

***

60,792

Fidelity Freedom Blend 2065 T

Collective Fund

***

20,008

Fidelity Freedom Blend Income T

Collective Fund

***

18,112

Fidelity Managed Income Portfolio II - Class 3

Collective Fund

***

164,273

Fidelity Contrafund Comingled Pool

Collective Fund

***

420,121

Fidelity OTC Comingled Pool

Collective Fund

***

344,261

Spartan 500 Index Pool Class F

Collective Fund

***

659,448

Spartan Extended Market Index Pool Class F

Collective Fund

***

50,659

Spartan Total International Index Pool Class F

Collective Fund

***

35,486

GW&K Small/Mid Cap Fund

Collective Fund

***

134,114

Prudential Core Plus Bond Fund Class 15

Collective Fund

***

22,333

GQG Partners International Equity CIT Class D

Collective Fund

***

83,037

State Street Short Term Investment Fund

Collective Fund

***

1,666

Total Interest in Collective Funds

4,700,973

T Rowe Price Government Reserve Investment Fund

Mutual Fund

***

804

Vanguard Total Bond Market Index Fund - Institutional Plus Share Class

Mutual Fund

***

90,083

Fidelity Investments Money Market Government Portfolio - Institutional Class

Mutual Fund

***

113,523

Total Interest in Mutual Funds

204,410

Quest Diagnostics Incorporated

Common Stock

***

295,103

The Quest Diagnostics Profit Sharing Plan

EIN: #38-2084239 Plan: #333

Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)

December 31, 2024 (dollars in thousands)

(a)

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

(d)
Cost

(e)
Current
Value

Accenture Plc Cl A

Other Common Stock

***

1,409

Adobe Inc

Other Common Stock

***

1,611

Advanced Micro Devices Inc

Other Common Stock

***

842

Affirm Holdings Inc

Other Common Stock

***

227

Agco Corp

Other Common Stock

***

998

Alphabet Inc Cl A

Other Common Stock

***

13,286

Amazon.Com Inc

Other Common Stock

***

15,375

Ameren Corp

Other Common Stock

***

1,792

American International Group

Other Common Stock

***

1,408

Amphenol Corporation Cl A

Other Common Stock

***

3,075

Apple Inc

Other Common Stock

***

17,566

Argenx Se Sponsored Adr

Other Common Stock

***

1,300

Asml Hldg Nv (Ny Reg Shs) New York Registered Shar

Other Common Stock

***

1,089

Astrazeneca Plc Spons Adr

Other Common Stock

***

628

Atlassian Corp Plc Cls A

Other Common Stock

***

1,427

Aurora Innovation Inc

Other Common Stock

***

331

Avalonbay Communities Inc Reit

Other Common Stock

***

1,887

Bank of America Corporation

Other Common Stock

***

2,591

Baxter Intl Inc

Other Common Stock

***

920

Becton Dickinson & Co

Other Common Stock

***

3,182

Biogen Inc

Other Common Stock

***

333

Boeing Co

Other Common Stock

***

1,871

Cf Industries Holdings Inc

Other Common Stock

***

936

Chipotle Mexican Grill Inc

Other Common Stock

***

1,314

Chubb Ltd

Other Common Stock

***

2,666

Cigna Group (The)

Other Common Stock

***

2,859

Citigroup Inc

Other Common Stock

***

1,633

Coca Cola Co

Other Common Stock

***

721

Colgate-Palmolive Co

Other Common Stock

***

1,036

Comcast Corp Cl A

Other Common Stock

***

1,080

Conagra Brands Inc

Other Common Stock

***

704

Conocophillips

Other Common Stock

***

2,058

Coupang Inc A

Other Common Stock

***

1,455

Cummins Inc

Other Common Stock

***

1,708

Cvs Health Corp

Other Common Stock

***

889

Danaher Corp

Other Common Stock

***

1,217

Disney (Walt) Co

Other Common Stock

***

1,301

Dominion Energy Inc

Other Common Stock

***

509

The Quest Diagnostics Profit Sharing Plan

EIN: #38-2084239 Plan: #333

Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)

December 31, 2024 (dollars in thousands)

(a)

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

(d)
Cost

(e)
Current
Value

Dynatrace Inc

Other Common Stock

***

832

Elevance Health Inc

Other Common Stock

***

2,173

Eli Lilly & Co

Other Common Stock

***

3,718

Entegris Inc

Other Common Stock

***

1,149

Eog Resources Inc

Other Common Stock

***

765

Eqt Corporation

Other Common Stock

***

1,351

Equifax Inc

Other Common Stock

***

1,495

Equitable Holdings Inc

Other Common Stock

***

1,636

Exxon Mobil Corp

Other Common Stock

***

2,103

Fair Isaac Corp

Other Common Stock

***

1,258

Fifth Third Bancorp

Other Common Stock

***

683

Fiserv Inc

Other Common Stock

***

8,113

Fortive Corp

Other Common Stock

***

787

Ge Aerospace

Other Common Stock

***

1,512

Ge Vernova Inc

Other Common Stock

***

522

Hartford Insurance Group Inc/The

Other Common Stock

***

2,384

Home Depot Inc

Other Common Stock

***

894

Honeywell Intl Inc

Other Common Stock

***

1,062

Howmet Aerospace Inc

Other Common Stock

***

1,472

Hubspot Inc

Other Common Stock

***

1,539

Huntington Bancshares Inc

Other Common Stock

***

1,175

Ingersoll Rand Inc

Other Common Stock

***

1,428

Intel Corp

Other Common Stock

***

396

International Paper Co

Other Common Stock

***

1,383

Intuit Inc

Other Common Stock

***

5,595

Intuitive Surgical Inc

Other Common Stock

***

3,917

Johnson & Johnson

Other Common Stock

***

1,765

Kenvue Inc

Other Common Stock

***

2,727

Kimberly Clark Corp

Other Common Stock

***

1,523

L3Harris Technologies Inc

Other Common Stock

***

2,287

Las Vegas Sands Corp

Other Common Stock

***

1,310

Legend Biotech Corp Spon Adr

Other Common Stock

***

365

Lululemon Athletica Inc

Other Common Stock

***

918

Mastercard Inc Cl A

Other Common Stock

***

6,372

Mercadolibre Inc

Other Common Stock

***

930

Meta Platforms Inc Cl A

Other Common Stock

***

9,636

Metlife Inc

Other Common Stock

***

1,457

Microsoft Corp

Other Common Stock

***

22,278

The Quest Diagnostics Profit Sharing Plan

EIN: #38-2084239 Plan: #333

Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)

December 31, 2024 (dollars in thousands)

(a)

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

(d)
Cost

(e)
Current
Value

Natera Inc

Other Common Stock

***

586

Netflix Inc

Other Common Stock

***

3,107

News Corp New Cl A

Other Common Stock

***

1,461

Norfolk Southern Corp

Other Common Stock

***

1,767

Nvidia Corp

Other Common Stock

***

17,267

Philip Morris Intl Inc

Other Common Stock

***

1,678

Qualcomm Inc

Other Common Stock

***

1,218

Rexford Industrial Realty Inc

Other Common Stock

***

897

Rockwell Automation Inc

Other Common Stock

***

1,258

Ross Stores Inc

Other Common Stock

***

1,613

Rpm International Inc

Other Common Stock

***

606

Samsung Elec Vtg Gdr Regs

Other Common Stock

***

740

Sanofi Spon Adr

Other Common Stock

***

749

Schlumberger Ltd

Other Common Stock

***

1,661

Schwab Charles Corp

Other Common Stock

***

3,418

Sempra

Other Common Stock

***

1,224

Servicenow Inc

Other Common Stock

***

3,379

Shopify Inc Cl A

Other Common Stock

***

1,939

Siemens Ag (Regd)

Other Common Stock

***

884

Sonova Hldg Ag Unspon Adr

Other Common Stock

***

1,030

Southern Co

Other Common Stock

***

1,512

Southwest Airlines Co

Other Common Stock

***

722

Stanley Black & Decker Inc

Other Common Stock

***

1,679

Stripe Inc Class B Pp

Other Common Stock

***

Stryker Corp

Other Common Stock

***

2,514

Suncor Energy Inc

Other Common Stock

***

1,017

Te Connectivity Plc

Other Common Stock

***

1,148

Texas Instruments Inc

Other Common Stock

***

795

The Booking Holdings Inc

Other Common Stock

***

2,911

Thermo Fisher Scientific Inc

Other Common Stock

***

1,625

Totalenergies Se Adr

Other Common Stock

***

888

Tradeweb Markets Inc A

Other Common Stock

***

785

Union Pacific Corp

Other Common Stock

***

1,184

United Parcel Service Inc Cl B

Other Common Stock

***

1,756

Unitedhealth Group Inc

Other Common Stock

***

6,264

Us Bancorp Del

Other Common Stock

***

1,126

Viatris Inc

Other Common Stock

***

745

Visa Inc Cl A

Other Common Stock

***

4,243

The Quest Diagnostics Profit Sharing Plan

EIN: #38-2084239 Plan: #333

Schedule H, Line 4(i) - Schedule of Assets (Held at End of Year)

December 31, 2024 (dollars in thousands)

(a)

(b)
Identity of Issue, Borrower, Lessor, or Similar Party

(d)
Cost

(e)
Current
Value

Walmart Inc

Other Common Stock

***

1,497

Wells Fargo & Co

Other Common Stock

***

2,928

Western Digital Corp

Other Common Stock

***

505

Weyerhaeuser Co

Other Common Stock

***

1,737

Williams Companies Inc

Other Common Stock

***

684

Zimmer Biomet Hldgs Inc

Other Common Stock

***

1,852

Total Interest in Other Common Stock

282,820

Investments at Fair Value

5,483,306

Notes Receivable from Participants**

Loans

70,809

TOTAL

5,554,115

Party-in-interest to the Plan.

Rates range from 3.25% to 9.50%; maturities vary by participant.

***

The cost of participant-directed investments is not required to be disclosed.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized.

June 20, 2025

The Quest Diagnostics Profit Sharing Plan


By:			/s/ Cecilia K. McKenney
			Cecilia K. McKenney
			Senior Vice President, Chief Human Resources Officer and Member of the Benefits Administration Committee of Quest Diagnostics Clinical Laboratories, Inc.