Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	NCL CORP LTD	54,658,000	$60.88M	1.1%	$1.11	—	NOTE 0.875% 4/1	62886HBT7
AAAP	PACER FDS TR	1,000,000	$25.18M	0.4%	$25.18	—	BARINGS CLO MRKT	69384J604
PBSC	PACER FDS TR	1,000,000	$25.14M	0.4%	$25.14	—	BARINGS SECURED	69384J703
DVN	DEVON ENERGY CORP NEW	208,091	$8.598M	0.2%	$41.32	—	COM	25179M103
PSX	PHILLIPS 66	41,977	$7.096M	0.1%	$169.05	—	COM	718546104
SLB	SLB LIMITED	83,065	$3.862M	0.1%	$46.49	—	COM STK	806857108
BOBS	BOBS DISC FURNITURE INC	180,000	$2.848M	0.1%	$15.82	—	COM SHS	09681N106
CX	CEMEX SA EURO MTN BE 144A	232,302	$2.788M	0.0%	$12.00	—	SPON ADR NEW	151290889
KLAC	KLA CORP	4,630	$1.397M	0.0%	$301.71	—	COM NEW	482480100
MELI	MERCADOLIBRE INC	762	$1.293M	0.0%	$1697.39	—	COM	58733R102
TBBB	BBB FOODS INC	28,476	$1.187M	0.0%	$41.67	—	CL A COM	G0896C103
MRK	MERCK & CO INC	2,557	$329K	0.0%	$128.50	—	COM	58933Y105
INTC	INTEL CORP	2,180	$304K	0.0%	$139.63	—	COM	458140100
TJX	TJX COS INC NEW	1,788	$271K	0.0%	$151.50	—	COM	872540109
MRVL	MARVELL TECHNOLOGY INC	883	$263K	0.0%	$297.89	—	COM	573874104
PLD	PROLOGIS INC.	1,910	$259K	0.0%	$135.47	—	COM	74340W103
STX	SEAGATE TECHNOLOGY HLDNGS PL	262	$253K	0.0%	$965.00	—	ORD SHS	G7997R103
AMT	AMERICAN TOWER CORP	1,528	$250K	0.0%	$163.57	—	COM	03027X100
PANW	PALO ALTO NETWORKS INC	690	$235K	0.0%	$341.02	—	COM	697435105
QCOM	QUALCOMM INC	1,265	$234K	0.0%	$184.79	—	COM	747525103
GS	GOLDMAN SACHS GROUP INC	231	$234K	0.0%	$1011.37	—	COM	38141G104
GEV	GE VERNOVA INC	193	$227K	0.0%	$1174.86	—	COM	36828A101
SPG	SIMON PPTY GROUP INC NEW	1,007	$225K	0.0%	$223.65	—	COM	828806109
IBM	INTERNATIONAL BUSINESS MACHS	786	$221K	0.0%	$281.21	—	COM	459200101
CSCO	CISCO SYS INC	1,843	$216K	0.0%	$117.46	—	COM	17275R102
WDC	WESTERN DIGITAL CORP	332	$212K	0.0%	$638.72	—	COM	958102105
ADI	ANALOG DEVICES INC	530	$211K	0.0%	$397.17	—	COM	032654105
UNH	UNITEDHEALTH GROUP INC	505	$210K	0.0%	$415.63	—	COM	91324P102
CB	CHUBB LIMITED	614	$209K	0.0%	$340.74	—	COM	H1467J104
CVS	CVS HEALTH CORP	1,934	$200K	0.0%	$103.45	—	COM	126650100
NBIS	NEBIUS GROUP N.V. ⚠	90,661	$0	0.0%	—	—	SHS CLASS A	N97284108

Increased Positions (51)

IVV ISHARES TR 23.2%

Value $1.306B (+22.9%) Shares 1,744,190 (+4.2%) Est. Cost $414.88 Unrealized —

DYNF BLACKROCK ETF TRUST 0.9%

Value $52.06M (+85.4%) Shares 765,431 (+58.6%) Est. Cost $62.52 Unrealized —

— PARSONS CORP DEL 1.1%

Value $60.7M (+33.7%) Shares 61,696,000 (+33.8%) Est. Cost $1.01 Unrealized —

VGT VANGUARD WORLD FD 0.6%

Value $33.95M (+62.3%) Shares 284,064 (+847.4%) Est. Cost $178.65 Unrealized —

ITUB ITAU UNIBANCO HLDG S A 0.3%

Value $16.7M (+123.4%) Shares 2,043,934 (+129.2%) Est. Cost $7.94 Unrealized —

NU NU HLDGS LTD 0.4%

Value $19.92M (+31.2%) Shares 1,491,372 (+41.1%) Est. Cost $13.08 Unrealized —

AU ANGLOGOLD ASHANTI PLC 0.7%

Value $36.94M (-11.2%) Shares 456,162 (+6.5%) Est. Cost $25.05 Unrealized —

NTR NUTRIEN LTD 0.3%

Value $14.16M (-13.3%) Shares 224,956 (+4.0%) Est. Cost $62.27 Unrealized —

VLO VALERO ENERGY CORP 0.2%

Value $8.764M (+30.4%) Shares 33,649 (+23.7%) Est. Cost $165.61 Unrealized —

WMB WILLIAMS COS INC 0.2%

Value $9.584M (+26.7%) Shares 128,927 (+24.1%) Est. Cost $67.90 Unrealized —

DE DEERE & CO 0.1%

Value $6.386M (+46.0%) Shares 10,068 (+29.7%) Est. Cost $384.30 Unrealized —

AAPL APPLE INC 0.1%

Value $5.149M (+63.2%) Shares 17,793 (+43.1%) Est. Cost $199.78 Unrealized —

NVDA NVIDIA CORPORATION 0.1%

Value $7.656M (+27.9%) Shares 38,262 (+11.5%) Est. Cost $116.99 Unrealized —

RACE FERRARI N V 0.2%

Value $8.951M (+21.8%) Shares 24,161 (+9.8%) Est. Cost $369.17 Unrealized —

AMZN AMAZON COM INC 0.1%

Value $5.129M (+42.1%) Shares 21,520 (+24.1%) Est. Cost $143.48 Unrealized —

XLK SELECT SECTOR SPDR TR 0.0%

Value $2.371M (+88.1%) Shares 12,444 (+31.2%) Est. Cost $155.05 Unrealized —

AVGO BROADCOM INC 0.0%

Value $1.902M (+120.2%) Shares 5,036 (+80.4%) Est. Cost $251.06 Unrealized —

SU SUNCOR ENERGY INC NEW 0.4%

Value $20.1M (+5.2%) Shares 374,061 (+29.5%) Est. Cost $46.42 Unrealized —

CCJ CAMECO CORP 0.1%

Value $5.838M (+20.5%) Shares 57,330 (+28.7%) Est. Cost $85.96 Unrealized —

BG BUNGE GLOBAL SA 0.1%

Value $4.509M (-15.1%) Shares 42,250 (+1.1%) Est. Cost $96.79 Unrealized —

GE GE AEROSPACE 0.0%

Value $1.504M (+100.7%) Shares 4,025 (+52.4%) Est. Cost $334.33 Unrealized —

— HERBALIFE LTD 1.2%

Value $68.38M (+0.9%) Shares 59,612,000 (+4.9%) Est. Cost $0.91 Unrealized —

QGEN QIAGEN NV 0.2%

Value $13.78M (+4.2%) Shares 356,002 (+8.0%) Est. Cost $49.45 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.0%

Value $650K (+213.6%) Shares 1,119 (+9.8%) Est. Cost $253.80 Unrealized —

MOS MOSAIC CO 0.0%

Value $1.854M (-14.7%) Shares 87,508 (+2.6%) Est. Cost $27.68 Unrealized —

ADM ARCHER DANIELS MIDLAND CO 0.1%

Value $4.292M (+7.9%) Shares 56,175 (+2.7%) Est. Cost $56.52 Unrealized —

V VISA INC 0.0%

Value $2.4M (+14.8%) Shares 6,995 (+1.2%) Est. Cost $324.51 Unrealized —

AMAT APPLIED MATLS INC 0.0%

Value $524K (+122.9%) Shares 725 (+5.4%) Est. Cost $346.80 Unrealized —

JPM JPMORGAN CHASE & CO 0.0%

Value $1.727M (+20.0%) Shares 5,276 (+7.9%) Est. Cost $264.79 Unrealized —

LRCX LAM RESEARCH CORP 0.0%

Value $497K (+122.2%) Shares 1,146 (+9.6%) Est. Cost $244.04 Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.0%

Value $1.046M (-18.2%) Shares 10,899 (+6.9%) Est. Cost $143.31 Unrealized —

ANDE ANDERSONS INC 0.0%

Value $2.099M (+12.0%) Shares 30,680 (+17.6%) Est. Cost $62.52 Unrealized —

CTVA CORTEVA INC 0.1%

Value $5.684M (+3.9%) Shares 67,121 (+2.7%) Est. Cost $54.68 Unrealized —

WMT WALMART INC 0.0%

Value $524K (+61.4%) Shares 4,629 (+77.1%) Est. Cost $118.21 Unrealized —

KR KROGER CO 0.0%

Value $1.593M (-10.5%) Shares 28,691 (+16.6%) Est. Cost $66.64 Unrealized —

INGR INGREDION INC 0.0%

Value $1.014M (-15.0%) Shares 10,709 (+1.1%) Est. Cost $120.81 Unrealized —

AGCO AGCO CORP 0.1%

Value $3.029M (+6.0%) Shares 25,301 (+2.6%) Est. Cost $102.49 Unrealized —

HD HOME DEPOT INC 0.0%

Value $393K (+75.5%) Shares 1,113 (+63.7%) Est. Cost $360.88 Unrealized —

BAC BANK OF AMER CORP 0.0%

Value $405K (+61.4%) Shares 7,110 (+38.1%) Est. Cost $43.82 Unrealized —

PBR/A PETROLEO BRASILEIRO S A 0.1%

Value $7.011M (+1.4%) Shares 478,910 (+29.9%) Est. Cost $11.16 Unrealized —

AXIA AXIA ENERGIA SA 0.1%

Value $8.258M (+1.1%) Shares 782,040 (+8.0%) Est. Cost $8.64 Unrealized —

CNH CNH INDL N V 0.0%

Value $1.762M (+4.7%) Shares 156,919 (+2.6%) Est. Cost $11.19 Unrealized —

MSFT MICROSOFT CORP 0.1%

Value $4.521M (+1.8%) Shares 12,119 (+1.0%) Est. Cost $151.92 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value $490K (+19.0%) Shares 980 (+14.0%) Est. Cost $387.42 Unrealized —

TCPC BLACKROCK TCP CAPITAL CORP 0.0%

Value $1.988M (-2.5%) Shares 591,808 (+4.7%) Est. Cost $10.70 Unrealized —

PG PROCTER & GAMBLE CO 0.0%

Value $290K (+12.9%) Shares 1,980 (+11.2%) Est. Cost $151.25 Unrealized —

MPV BARINGS PARTN INVS TRUST 0.1%

Value $4.869M (-0.6%) Shares 289,151 (+1.1%) Est. Cost $16.26 Unrealized —

MA MASTERCARD INCORPORATED 0.0%

Value $311K (+10.1%) Shares 606 (+7.1%) Est. Cost $478.68 Unrealized —

COST COSTCO WHOLESALE CORPORATION 0.0%

Value $316K (+6.5%) Shares 338 (+13.4%) Est. Cost $960.42 Unrealized —

NFLX NETFLIX INC. 0.0%

Value $205K (-7.9%) Shares 2,871 (+24.0%) Est. Cost $96.05 Unrealized —

— BARINGS GLOBAL SHORT DURATION 0.0%

Value $230K (+5.9%) Shares 16,331 (+2.6%) Est. Cost $16.22 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	1,744,190 (+4.2%)	$1.306B (+22.9%)	23.2%	$414.88	—	CORE S&P500 ETF	464287200
DYNF	BLACKROCK ETF TRUST	765,431 (+58.6%)	$52.06M (+85.4%)	0.9%	$62.52	—	ISHARES US EQUIT	09290C103
—	PARSONS CORP DEL	61,696,000 (+33.8%)	$60.7M (+33.7%)	1.1%	$1.01	—	NOTE 2.625% 3/0	70202LAD4
VGT	VANGUARD WORLD FD	284,064 (+847.4%)	$33.95M (+62.3%)	0.6%	$178.65	—	INF TECH ETF	92204A702
ITUB	ITAU UNIBANCO HLDG S A	2,043,934 (+129.2%)	$16.7M (+123.4%)	0.3%	$7.94	—	SPON ADR REP PFD	465562106
NU	NU HLDGS LTD	1,491,372 (+41.1%)	$19.92M (+31.2%)	0.4%	$13.08	—	ORD SHS CL A	G6683N103
AU	ANGLOGOLD ASHANTI PLC	456,162 (+6.5%)	$36.94M (-11.2%)	0.7%	$25.05	—	COM SHS	G0378L100
NTR	NUTRIEN LTD	224,956 (+4.0%)	$14.16M (-13.3%)	0.3%	$62.27	—	COM	67077M108
VLO	VALERO ENERGY CORP	33,649 (+23.7%)	$8.764M (+30.4%)	0.2%	$165.61	—	COM	91913Y100
WMB	WILLIAMS COS INC	128,927 (+24.1%)	$9.584M (+26.7%)	0.2%	$67.90	—	COM	969457100
DE	DEERE & CO	10,068 (+29.7%)	$6.386M (+46.0%)	0.1%	$384.30	—	COM	244199105
AAPL	APPLE INC	17,793 (+43.1%)	$5.149M (+63.2%)	0.1%	$199.78	—	COM	037833100
NVDA	NVIDIA CORPORATION	38,262 (+11.5%)	$7.656M (+27.9%)	0.1%	$116.99	—	COM	67066G104
RACE	FERRARI N V	24,161 (+9.8%)	$8.951M (+21.8%)	0.2%	$369.17	—	COM	N3167Y103
AMZN	AMAZON COM INC	21,520 (+24.1%)	$5.129M (+42.1%)	0.1%	$143.48	—	COM	023135106
XLK	SELECT SECTOR SPDR TR	12,444 (+31.2%)	$2.371M (+88.1%)	0.0%	$155.05	—	ST STR TECHN ETF	81369Y803
AVGO	BROADCOM INC	5,036 (+80.4%)	$1.902M (+120.2%)	0.0%	$251.06	—	COM	11135F101
SU	SUNCOR ENERGY INC NEW	374,061 (+29.5%)	$20.1M (+5.2%)	0.4%	$46.42	—	COM	867224107
CCJ	CAMECO CORP	57,330 (+28.7%)	$5.838M (+20.5%)	0.1%	$85.96	—	COM	13321L108
BG	BUNGE GLOBAL SA	42,250 (+1.1%)	$4.509M (-15.1%)	0.1%	$96.79	—	COM SHS	H11356104
GE	GE AEROSPACE	4,025 (+52.4%)	$1.504M (+100.7%)	0.0%	$334.33	—	COM NEW	369604301
—	HERBALIFE LTD	59,612,000 (+4.9%)	$68.38M (+0.9%)	1.2%	$0.91	—	NOTE 4.250% 6/1	42703MAF0
QGEN	QIAGEN NV	356,002 (+8.0%)	$13.78M (+4.2%)	0.2%	$49.45	—	ORD SHARES	N72482156
AMD	ADVANCED MICRO DEVICES INC	1,119 (+9.8%)	$650K (+213.6%)	0.0%	$253.80	—	COM	007903107
MOS	MOSAIC CO	87,508 (+2.6%)	$1.854M (-14.7%)	0.0%	$27.68	—	COM	61945C103
ADM	ARCHER DANIELS MIDLAND CO	56,175 (+2.7%)	$4.292M (+7.9%)	0.1%	$56.52	—	COM	039483102
V	VISA INC	6,995 (+1.2%)	$2.4M (+14.8%)	0.0%	$324.51	—	COM CL A	92826C839
AMAT	APPLIED MATLS INC	725 (+5.4%)	$524K (+122.9%)	0.0%	$346.80	—	COM	038222105
JPM	JPMORGAN CHASE & CO	5,276 (+7.9%)	$1.727M (+20.0%)	0.0%	$264.79	—	COM	46625H100
LRCX	LAM RESEARCH CORP	1,146 (+9.6%)	$497K (+122.2%)	0.0%	$244.04	—	COM NEW	512807306
BABA	ALIBABA GROUP HLDG LTD	10,899 (+6.9%)	$1.046M (-18.2%)	0.0%	$143.31	—	SPONSORED ADS	01609W102
ANDE	ANDERSONS INC	30,680 (+17.6%)	$2.099M (+12.0%)	0.0%	$62.52	—	COM	034164103
CTVA	CORTEVA INC	67,121 (+2.7%)	$5.684M (+3.9%)	0.1%	$54.68	—	COM	22052L104
WMT	WALMART INC	4,629 (+77.1%)	$524K (+61.4%)	0.0%	$118.21	—	COM	931142103
KR	KROGER CO	28,691 (+16.6%)	$1.593M (-10.5%)	0.0%	$66.64	—	COM	501044101
INGR	INGREDION INC	10,709 (+1.1%)	$1.014M (-15.0%)	0.0%	$120.81	—	COM	457187102
AGCO	AGCO CORP	25,301 (+2.6%)	$3.029M (+6.0%)	0.1%	$102.49	—	COM	001084102
HD	HOME DEPOT INC	1,113 (+63.7%)	$393K (+75.5%)	0.0%	$360.88	—	COM	437076102
BAC	BANK OF AMER CORP	7,110 (+38.1%)	$405K (+61.4%)	0.0%	$43.82	—	COM	060505104
PBR/A	PETROLEO BRASILEIRO S A	478,910 (+29.9%)	$7.011M (+1.4%)	0.1%	$11.16	—	SP ADR NON VTG	71654V101
AXIA	AXIA ENERGIA SA	782,040 (+8.0%)	$8.258M (+1.1%)	0.1%	$8.64	—	SPONSORED ADR	15234Q207
CNH	CNH INDL N V	156,919 (+2.6%)	$1.762M (+4.7%)	0.0%	$11.19	—	SHS	N20944109
MSFT	MICROSOFT CORP	12,119 (+1.0%)	$4.521M (+1.8%)	0.1%	$151.92	—	COM	594918104
BRK/B	BERKSHIRE HATHAWAY INC DEL	980 (+14.0%)	$490K (+19.0%)	0.0%	$387.42	—	CL B NEW	084670702
TCPC	BLACKROCK TCP CAPITAL CORP	591,808 (+4.7%)	$1.988M (-2.5%)	0.0%	$10.70	—	COM	09259E108
PG	PROCTER & GAMBLE CO	1,980 (+11.2%)	$290K (+12.9%)	0.0%	$151.25	—	COM	742718109
MPV	BARINGS PARTN INVS TRUST	289,151 (+1.1%)	$4.869M (-0.6%)	0.1%	$16.26	—	SH BEN INT	06761A103
MA	MASTERCARD INCORPORATED	606 (+7.1%)	$311K (+10.1%)	0.0%	$478.68	—	CL A	57636Q104
COST	COSTCO WHOLESALE CORPORATION	338 (+13.4%)	$316K (+6.5%)	0.0%	$960.42	—	COM	22160K105
NFLX	NETFLIX INC.	2,871 (+24.0%)	$205K (-7.9%)	0.0%	$96.05	—	COM	64110L106
—	BARINGS GLOBAL SHORT DURATION	16,331 (+2.6%)	$230K (+5.9%)	0.0%	$16.22	—	COM	06760L100

Exited Positions (19)

IGV ISHARES TR 0.3%

Value $19.28M Shares 240,898 Est. Cost $86.81 Unrealized —

CTRA COTERRA ENERGY INC 0.2%

Value $10.71M Shares 304,689 Est. Cost $26.19 Unrealized —

FUTU FUTU HLDGS LTD 0.1%

Value $7.939M Shares 58,054 Est. Cost $137.77 Unrealized —

ENB ENBRIDGE INC 0.1%

Value $7.042M Shares 129,888 Est. Cost $32.36 Unrealized —

XP XP INC 0.1%

Value $3.821M Shares 200,683 Est. Cost $19.34 Unrealized —

MOAT VANECK ETF TRUST 0.0%

Value $2.411M Shares 24,935 Est. Cost $94.68 Unrealized —

VTWO VANGUARD SCOTTSDALE FDS 0.0%

Value $1.576M Shares 15,737 Est. Cost $100.17 Unrealized —

IFS INTERCORP FINL SVCS INC 0.0%

Value $1.349M Shares 26,880 Est. Cost $47.81 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.0%

Value $1.24M Shares 22,940 Est. Cost $47.66 Unrealized —

FIS FIDELITY NATL INFORMATION SV 0.0%

Value $876K Shares 18,671 Est. Cost $70.20 Unrealized —

ELME ELME COMMUNITIES 0.0%

Value $834K Shares 49,487 Est. Cost $15.55 Unrealized —

EAGG ISHARES TR 0.0%

Value $823K Shares 17,310 Est. Cost $49.09 Unrealized —

PPC PILGRIMS PRIDE CORP 0.0%

Value $730K Shares 19,328 Est. Cost $45.36 Unrealized —

INTU INTUIT 0.0%

Value $608K Shares 1,407 Est. Cost $711.09 Unrealized —

AXON AXON ENTERPRISE INC 0.0%

Value $395K Shares 930 Est. Cost $300.53 Unrealized —

TLH ISHARES TR 0.0%

Value $298K Shares 2,963 Est. Cost $101.67 Unrealized —

PM PHILIP MORRIS INTL INC 0.0%

Value $219K Shares 1,322 Est. Cost $175.91 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.0%

Value $200K Shares 3,989 Est. Cost $43.82 Unrealized —

WIT WIPRO LTD 0.0%

Value $86,155 Shares 40,639 Est. Cost $3.22 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IGV	ISHARES TR	240,898	$19.28M	0.3%	$86.81	—	—	464287515
CTRA	COTERRA ENERGY INC	304,689	$10.71M	0.2%	$26.19	—	—	127097103
FUTU	FUTU HLDGS LTD	58,054	$7.939M	0.1%	$137.77	—	—	36118L106
ENB	ENBRIDGE INC	129,888	$7.042M	0.1%	$32.36	—	—	29250N105
XP	XP INC	200,683	$3.821M	0.1%	$19.34	—	—	G98239109
MOAT	VANECK ETF TRUST	24,935	$2.411M	0.0%	$94.68	—	—	92189F643
VTWO	VANGUARD SCOTTSDALE FDS	15,737	$1.576M	0.0%	$100.17	—	—	92206C664
IFS	INTERCORP FINL SVCS INC	26,880	$1.349M	0.0%	$47.81	—	—	P5626F128
VWO	VANGUARD INTL EQUITY INDEX F	22,940	$1.24M	0.0%	$47.66	—	—	922042858
FIS	FIDELITY NATL INFORMATION SV	18,671	$876K	0.0%	$70.20	—	—	31620M106
ELME	ELME COMMUNITIES	49,487	$834K	0.0%	$15.55	—	—	939653101
EAGG	ISHARES TR	17,310	$823K	0.0%	$49.09	—	—	46435U549
PPC	PILGRIMS PRIDE CORP	19,328	$730K	0.0%	$45.36	—	—	72147K108
INTU	INTUIT	1,407	$608K	0.0%	$711.09	—	—	461202103
AXON	AXON ENTERPRISE INC	930	$395K	0.0%	$300.53	—	—	05464C101
TLH	ISHARES TR	2,963	$298K	0.0%	$101.67	—	—	464288653
PM	PHILIP MORRIS INTL INC	1,322	$219K	0.0%	$175.91	—	—	718172109
VZ	VERIZON COMMUNICATIONS INC	3,989	$200K	0.0%	$43.82	—	—	92343V104
WIT	WIPRO LTD	40,639	$86,155	0.0%	$3.22	—	—	97651M109

Decreased Positions (62)

LQD ISHARES TR 5.3%

Value $297M (-68.4%) Shares 2,720,211 (-68.4%) Est. Cost $109.78 Unrealized —

JAAA JANUS DETROIT STR TR 4.4%

Value $248M (-61.9%) Shares 4,909,176 (-62.0%) Est. Cost $50.56 Unrealized —

IWO ISHARES TR 11.0%

Value $622M (+28.5%) Shares 1,579,950 (-1.8%) Est. Cost $239.06 Unrealized —

QQQ INVESCO QQQ TR 11.3%

Value $636M (+26.5%) Shares 863,468 (-4.1%) Est. Cost $323.68 Unrealized —

IEV ISHARES TR 0.0%

Value $703K (-97.8%) Shares 9,654 (-97.9%) Est. Cost $58.43 Unrealized —

TTE TOTALENERGIES SE 0.6%

Value $32.5M (-42.6%) Shares 418,276 (-30.9%) Est. Cost $65.96 Unrealized —

PDD PDD HOLDINGS INC 0.8%

Value $44.85M (-32.4%) Shares 587,937 (-9.4%) Est. Cost $107.34 Unrealized —

USHY ISHARES TR 0.6%

Value $32.83M (-27.9%) Shares 886,891 (-28.3%) Est. Cost $37.65 Unrealized —

VTV VANGUARD INDEX FDS 0.1%

Value $6.885M (-61.9%) Shares 31,595 (-65.7%) Est. Cost $196.20 Unrealized —

EEM ISHARES TR 0.4%

Value $24.91M (-27.4%) Shares 364,200 (-39.7%) Est. Cost $52.50 Unrealized —

WPM WHEATON PRECIOUS METALS CORP 0.5%

Value $27.97M (-21.4%) Shares 248,925 (-8.1%) Est. Cost $53.76 Unrealized —

JXI ISHARES TR 0.0%

Value $1.31M (-85.2%) Shares 15,422 (-85.0%) Est. Cost $77.66 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 2.0%

Value $115M (-4.0%) Shares 732,779 (-15.4%) Est. Cost $126.26 Unrealized —

— UNITI GROUP LLC 0.5%

Value $28.16M (-14.3%) Shares 23,333,000 (-15.5%) Est. Cost $1.12 Unrealized —

CVX CHEVRON CORPORATION 0.3%

Value $16.27M (-21.7%) Shares 98,129 (-2.3%) Est. Cost $137.45 Unrealized —

AZN ASTRAZENECA PLC 0.4%

Value $23.58M (-15.1%) Shares 126,110 (-11.8%) Est. Cost $190.39 Unrealized —

CF CF INDUSTRIES HOLD 0.1%

Value $3.955M (-51.3%) Shares 36,537 (-41.6%) Est. Cost $82.47 Unrealized —

VCLT VANGUARD SCOTTSDALE FDS 0.1%

Value $2.968M (-57.5%) Shares 39,437 (-57.8%) Est. Cost $76.95 Unrealized —

DOW DOW HLDGS INC 0.1%

Value $3.327M (-52.8%) Shares 121,612 (-28.2%) Est. Cost $29.05 Unrealized —

XOM EXXON MOBIL CORP 0.2%

Value $13.77M (-20.8%) Shares 100,721 (-1.7%) Est. Cost $61.39 Unrealized —

AEM AGNICO EAGLE MINES LTD 0.1%

Value $5.761M (-37.4%) Shares 37,113 (-18.1%) Est. Cost $63.55 Unrealized —

COP CONOCOPHILLIPS 0.2%

Value $11.83M (-22.4%) Shares 113,783 (-1.4%) Est. Cost $54.18 Unrealized —

URTH ISHARES INC 0.9%

Value $51.04M (+6.8%) Shares 251,883 (-5.1%) Est. Cost $134.08 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.8%

Value $47.53M (-6.3%) Shares 63,642 (-18.4%) Est. Cost $538.77 Unrealized —

EZU ISHARES INC 0.1%

Value $3.185M (-48.9%) Shares 45,824 (-53.9%) Est. Cost $48.04 Unrealized —

BAP CREDICORP LTD 0.1%

Value $6.851M (-28.6%) Shares 17,585 (-37.8%) Est. Cost $152.24 Unrealized —

SCCO SOUTHERN COPPER CORP 0.1%

Value $3.46M (-42.6%) Shares 19,856 (-43.3%) Est. Cost $124.90 Unrealized —

VALE VALE S A 0.1%

Value $7.188M (-24.1%) Shares 477,943 (-19.7%) Est. Cost $11.95 Unrealized —

EWJ ISHARES INC 0.5%

Value $26.25M (-7.4%) Shares 281,415 (-16.2%) Est. Cost $79.10 Unrealized —

MU MICRON TECHNOLOGY INC 0.1%

Value $2.961M (+190.4%) Shares 2,565 (-15.0%) Est. Cost $387.04 Unrealized —

NEM NEWMONT CORP 0.2%

Value $9.148M (-16.7%) Shares 97,945 (-3.4%) Est. Cost $61.73 Unrealized —

DAR DARLING INGREDIENTS INC 0.2%

Value $9.944M (-15.3%) Shares 182,050 (-4.1%) Est. Cost $37.98 Unrealized —

IBND SPDR SERIES TRUST 0.0%

Value $872K (-64.4%) Shares 27,966 (-64.5%) Est. Cost $31.48 Unrealized —

SQM SOCIEDAD QUIMICA Y MINERA DE 0.1%

Value $5.566M (-21.1%) Shares 75,177 (-13.8%) Est. Cost $70.17 Unrealized —

FN FABRINET 0.1%

Value $7.419M (-16.5%) Shares 13,199 (-22.5%) Est. Cost $122.66 Unrealized —

TSCO TRACTOR SUPPLY CO 0.0%

Value $1.076M (-54.6%) Shares 34,049 (-35.0%) Est. Cost $51.67 Unrealized —

GDX VANECK ETF TRUST 0.1%

Value $5.363M (-19.4%) Shares 71,078 (-1.9%) Est. Cost $82.36 Unrealized —

FMX FOMENTO ECONOMICO MEXICANO S 0.2%

Value $8.844M (-12.1%) Shares 69,146 (-23.7%) Est. Cost $107.56 Unrealized —

FANG DIAMONDBACK ENERGY INC 0.1%

Value $6.365M (-15.5%) Shares 36,210 (-5.0%) Est. Cost $159.83 Unrealized —

ACWI ISHARES TR 0.1%

Value $3.805M (-20.0%) Shares 24,240 (-29.5%) Est. Cost $109.98 Unrealized —

FCX FREEPORT MCMORAN INC 0.1%

Value $7.46M (-11.3%) Shares 118,626 (-17.1%) Est. Cost $43.26 Unrealized —

IGF ISHARES TR 0.1%

Value $4.194M (-17.4%) Shares 62,966 (-16.9%) Est. Cost $61.95 Unrealized —

B BARRICK MNG CORP 0.1%

Value $5.403M (-13.9%) Shares 147,091 (-4.4%) Est. Cost $48.30 Unrealized —

IEF ISHARES TR 0.5%

Value $26.66M (-3.1%) Shares 281,884 (-2.2%) Est. Cost $97.84 Unrealized —

GOOGL ALPHABET INC 0.1%

Value $4.247M (+20.2%) Shares 11,885 (-3.3%) Est. Cost $120.49 Unrealized —

EWH ISHARES INC 0.0%

Value $1.859M (-25.6%) Shares 88,853 (-17.9%) Est. Cost $20.15 Unrealized —

META META PLATFORMS INC 0.0%

Value $1.992M (-20.4%) Shares 3,537 (-19.2%) Est. Cost $553.29 Unrealized —

HDB HDFC BANK LTD 0.3%

Value $15.68M (+2.3%) Shares 607,057 (-1.5%) Est. Cost $46.91 Unrealized —

WY WEYERHAEUSER CO 0.1%

Value $3.444M (-9.0%) Shares 143,864 (-7.2%) Est. Cost $28.51 Unrealized —

IEUR ISHARES TR 0.0%

Value $901K (-26.8%) Shares 11,982 (-31.6%) Est. Cost $55.46 Unrealized —

TKO TKO GROUP HOLDINGS INC 0.0%

Value $272K (-52.7%) Shares 1,350 (-52.6%) Est. Cost $134.04 Unrealized —

TECK TECK RESOURCES LTD 0.1%

Value $5.508M (+4.3%) Shares 92,626 (-9.2%) Est. Cost $44.21 Unrealized —

TSLA TESLA INC 0.0%

Value $424K (-34.0%) Shares 1,008 (-41.7%) Est. Cost $227.84 Unrealized —

URI UNITED RENTALS INC 0.0%

Value $1.09M (+25.0%) Shares 962 (-19.6%) Est. Cost $514.80 Unrealized —

EMBD GLOBAL X FDS 0.3%

Value $14.3M (+1.5%) Shares 596,200 (-1.9%) Est. Cost $23.09 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.0%

Value $488K (-28.9%) Shares 4,183 (-10.9%) Est. Cost $157.25 Unrealized —

TSN TYSON FOODS INC 0.0%

Value $1.289M (-12.6%) Shares 22,514 (-2.2%) Est. Cost $58.24 Unrealized —

SLQD ISHARES TR 0.0%

Value $524K (-20.3%) Shares 10,397 (-20.1%) Est. Cost $49.78 Unrealized —

CAT CATERPILLAR INC 0.0%

Value $292K (+26.7%) Shares 274 (-15.7%) Est. Cost $684.39 Unrealized —

GOOG ALPHABET INC 0.0%

Value $900K (+7.2%) Shares 2,547 (-13.0%) Est. Cost $112.16 Unrealized —

CIB GRUPO CIBEST SA 0.1%

Value $5.881M (-0.9%) Shares 74,034 (-9.2%) Est. Cost $57.04 Unrealized —

RTX RTX CORPORATION 0.0%

Value $209K (-16.9%) Shares 1,099 (-15.5%) Est. Cost $196.61 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LQD	ISHARES TR	2,720,211 (-68.4%)	$297M (-68.4%)	5.3%	$109.78	—	IBOXX INV CP ETF	464287242
JAAA	JANUS DETROIT STR TR	4,909,176 (-62.0%)	$248M (-61.9%)	4.4%	$50.56	—	HENDRSON AAA CL	47103U845
IWO	ISHARES TR	1,579,950 (-1.8%)	$622M (+28.5%)	11.0%	$239.06	—	RUS 2000 GRW ETF	464287648
QQQ	INVESCO QQQ TR	863,468 (-4.1%)	$636M (+26.5%)	11.3%	$323.68	—	UNIT SER 1	46090E103
IEV	ISHARES TR	9,654 (-97.9%)	$703K (-97.8%)	0.0%	$58.43	—	EUROPE ETF	464287861
TTE	TOTALENERGIES SE	418,276 (-30.9%)	$32.5M (-42.6%)	0.6%	$65.96	—	ACT	F92124100
PDD	PDD HOLDINGS INC	587,937 (-9.4%)	$44.85M (-32.4%)	0.8%	$107.34	—	SPONSORED ADS	722304102
USHY	ISHARES TR	886,891 (-28.3%)	$32.83M (-27.9%)	0.6%	$37.65	—	BROAD USD HIGH	46435U853
VTV	VANGUARD INDEX FDS	31,595 (-65.7%)	$6.885M (-61.9%)	0.1%	$196.20	—	VALUE ETF	922908744
EEM	ISHARES TR	364,200 (-39.7%)	$24.91M (-27.4%)	0.4%	$52.50	—	MSCI EMG MKT ETF	464287234
WPM	WHEATON PRECIOUS METALS CORP	248,925 (-8.1%)	$27.97M (-21.4%)	0.5%	$53.76	—	COM	962879102
JXI	ISHARES TR	15,422 (-85.0%)	$1.31M (-85.2%)	0.0%	$77.66	—	GLOB UTILITS ETF	464288711
VT	VANGUARD INTL EQUITY INDEX F	732,779 (-15.4%)	$115M (-4.0%)	2.0%	$126.26	—	TT WRLD ST ETF	922042742
—	UNITI GROUP LLC	23,333,000 (-15.5%)	$28.16M (-14.3%)	0.5%	$1.12	—	NOTE 7.500%12/0	91325VAB4
CVX	CHEVRON CORPORATION	98,129 (-2.3%)	$16.27M (-21.7%)	0.3%	$137.45	—	COM	166764100
AZN	ASTRAZENECA PLC	126,110 (-11.8%)	$23.58M (-15.1%)	0.4%	$190.39	—	ORD	G0593M107
CF	CF INDUSTRIES HOLD	36,537 (-41.6%)	$3.955M (-51.3%)	0.1%	$82.47	—	COM	125269100
VCLT	VANGUARD SCOTTSDALE FDS	39,437 (-57.8%)	$2.968M (-57.5%)	0.1%	$76.95	—	LG-TERM COR BD	92206C813
DOW	DOW HLDGS INC	121,612 (-28.2%)	$3.327M (-52.8%)	0.1%	$29.05	—	COM	260557103
XOM	EXXON MOBIL CORP	100,721 (-1.7%)	$13.77M (-20.8%)	0.2%	$61.39	—	COM	30231G102
AEM	AGNICO EAGLE MINES LTD	37,113 (-18.1%)	$5.761M (-37.4%)	0.1%	$63.55	—	COM	008474108
COP	CONOCOPHILLIPS	113,783 (-1.4%)	$11.83M (-22.4%)	0.2%	$54.18	—	COM	20825C104
URTH	ISHARES INC	251,883 (-5.1%)	$51.04M (+6.8%)	0.9%	$134.08	—	MSCI WORLD ETF	464286392
SPY	STATE STR SPDR S&P 500 ETF T	63,642 (-18.4%)	$47.53M (-6.3%)	0.8%	$538.77	—	TR UNIT	78462F103
EZU	ISHARES INC	45,824 (-53.9%)	$3.185M (-48.9%)	0.1%	$48.04	—	MSCI EURZONE ETF	464286608
BAP	CREDICORP LTD	17,585 (-37.8%)	$6.851M (-28.6%)	0.1%	$152.24	—	COM	G2519Y108
SCCO	SOUTHERN COPPER CORP	19,856 (-43.3%)	$3.46M (-42.6%)	0.1%	$124.90	—	COM	84265V105
VALE	VALE S A	477,943 (-19.7%)	$7.188M (-24.1%)	0.1%	$11.95	—	SPONSORED ADS	91912E105
EWJ	ISHARES INC	281,415 (-16.2%)	$26.25M (-7.4%)	0.5%	$79.10	—	MSCI JAPAN ETF	46434G822
MU	MICRON TECHNOLOGY INC	2,565 (-15.0%)	$2.961M (+190.4%)	0.1%	$387.04	—	COM	595112103
NEM	NEWMONT CORP	97,945 (-3.4%)	$9.148M (-16.7%)	0.2%	$61.73	—	COM	651639106
DAR	DARLING INGREDIENTS INC	182,050 (-4.1%)	$9.944M (-15.3%)	0.2%	$37.98	—	COM	237266101
IBND	SPDR SERIES TRUST	27,966 (-64.5%)	$872K (-64.4%)	0.0%	$31.48	—	SST SPDR BLOOMBE	78464A151
SQM	SOCIEDAD QUIMICA Y MINERA DE	75,177 (-13.8%)	$5.566M (-21.1%)	0.1%	$70.17	—	SPON ADR SER B	833635105
FN	FABRINET	13,199 (-22.5%)	$7.419M (-16.5%)	0.1%	$122.66	—	SHS	G3323L100
TSCO	TRACTOR SUPPLY CO	34,049 (-35.0%)	$1.076M (-54.6%)	0.0%	$51.67	—	COM	892356106
GDX	VANECK ETF TRUST	71,078 (-1.9%)	$5.363M (-19.4%)	0.1%	$82.36	—	GOLD MINERS ETF	92189F106
FMX	FOMENTO ECONOMICO MEXICANO S	69,146 (-23.7%)	$8.844M (-12.1%)	0.2%	$107.56	—	SPON ADR UNITS	344419106
FANG	DIAMONDBACK ENERGY INC	36,210 (-5.0%)	$6.365M (-15.5%)	0.1%	$159.83	—	COM	25278X109
ACWI	ISHARES TR	24,240 (-29.5%)	$3.805M (-20.0%)	0.1%	$109.98	—	MSCI ACWI ETF	464288257
FCX	FREEPORT MCMORAN INC	118,626 (-17.1%)	$7.46M (-11.3%)	0.1%	$43.26	—	CL B	35671D857
IGF	ISHARES TR	62,966 (-16.9%)	$4.194M (-17.4%)	0.1%	$61.95	—	GLB INFRASTR ETF	464288372
B	BARRICK MNG CORP	147,091 (-4.4%)	$5.403M (-13.9%)	0.1%	$48.30	—	COM SHS	06849F108
IEF	ISHARES TR	281,884 (-2.2%)	$26.66M (-3.1%)	0.5%	$97.84	—	7-10 YR TRSY BD	464287440
GOOGL	ALPHABET INC	11,885 (-3.3%)	$4.247M (+20.2%)	0.1%	$120.49	—	CAP STK CL A	02079K305
EWH	ISHARES INC	88,853 (-17.9%)	$1.859M (-25.6%)	0.0%	$20.15	—	MSCI HONG KG ETF	464286871
META	META PLATFORMS INC	3,537 (-19.2%)	$1.992M (-20.4%)	0.0%	$553.29	—	CL A	30303M102
HDB	HDFC BANK LTD	607,057 (-1.5%)	$15.68M (+2.3%)	0.3%	$46.91	—	SPONSORED ADS	40415F101
WY	WEYERHAEUSER CO	143,864 (-7.2%)	$3.444M (-9.0%)	0.1%	$28.51	—	COM NEW	962166104
IEUR	ISHARES TR	11,982 (-31.6%)	$901K (-26.8%)	0.0%	$55.46	—	CORE MSCI EURO	46434V738
TKO	TKO GROUP HOLDINGS INC	1,350 (-52.6%)	$272K (-52.7%)	0.0%	$134.04	—	CL A	87256C101
TECK	TECK RESOURCES LTD	92,626 (-9.2%)	$5.508M (+4.3%)	0.1%	$44.21	—	CL B	878742204
TSLA	TESLA INC	1,008 (-41.7%)	$424K (-34.0%)	0.0%	$227.84	—	COM	88160R101
URI	UNITED RENTALS INC	962 (-19.6%)	$1.09M (+25.0%)	0.0%	$514.80	—	COM	911363109
EMBD	GLOBAL X FDS	596,200 (-1.9%)	$14.3M (+1.5%)	0.3%	$23.09	—	X EMERGING MKT	37954Y350
PLTR	PALANTIR TECHNOLOGIES INC	4,183 (-10.9%)	$488K (-28.9%)	0.0%	$157.25	—	CL A	69608A108
TSN	TYSON FOODS INC	22,514 (-2.2%)	$1.289M (-12.6%)	0.0%	$58.24	—	CL A	902494103
SLQD	ISHARES TR	10,397 (-20.1%)	$524K (-20.3%)	0.0%	$49.78	—	0-5YR INVT GR CP	46434V100
CAT	CATERPILLAR INC	274 (-15.7%)	$292K (+26.7%)	0.0%	$684.39	—	COM	149123101
GOOG	ALPHABET INC	2,547 (-13.0%)	$900K (+7.2%)	0.0%	$112.16	—	CAP STK CL C	02079K107
CIB	GRUPO CIBEST SA	74,034 (-9.2%)	$5.881M (-0.9%)	0.1%	$57.04	—	SPON ADS	40090E106
RTX	RTX CORPORATION	1,099 (-15.5%)	$209K (-16.9%)	0.0%	$196.61	—	COM	75513E101

Unchanged Positions (47)

ARX ACCELERANT HOLDINGS 0.7%

Value $37.61M Shares 3,128,867 Est. Cost $23.42 Unrealized —

BBDC BARINGS BDC, INC. 2.1%

Value $116M Shares 13,639,681 Est. Cost $5.27 Unrealized —

VOO VANGUARD INDEX FDS 0.4%

Value $24.24M Shares 35,299 Est. Cost $527.67 Unrealized —

SE SEA LTD 0.4%

Value $23.43M Shares 244,505 Est. Cost $71.91 Unrealized —

QQQM INVESCO EXCH TRADED FD TR II 0.2%

Value $11.87M Shares 39,184 Est. Cost $214.44 Unrealized —

IWM ISHARES TR 0.2%

Value $10.25M Shares 34,127 Est. Cost $248.00 Unrealized —

EPAM EPAM SYS INC 0.0%

Value $2.102M Shares 26,486 Est. Cost $178.28 Unrealized —

HTHT H WORLD GROUP LTD 0.1%

Value $6.906M Shares 165,532 Est. Cost $50.29 Unrealized —

CTGO CONTANGO SILVER & GOLD INC 0.1%

Value $7.519M Shares 476,190 Est. Cost $20.36 Unrealized —

— OMNICELL COM 0.3%

Value $16.64M Shares 15,735,000 Est. Cost $1.08 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 7.2%

Value $404M Shares 5,108,527 Est. Cost $77.30 Unrealized —

EOG EOG RES INC 0.2%

Value $9.849M Shares 75,916 Est. Cost $72.31 Unrealized —

KSPI KASPI KZ JSC 0.1%

Value $7.689M Shares 88,751 Est. Cost $74.07 Unrealized —

EOSE EOS ENERGY ENTERPRISES INC 0.1%

Value $7.082M Shares 1,204,430 Est. Cost $7.72 Unrealized —

IGSB ISHARES TR 6.4%

Value $358M Shares 6,840,027 Est. Cost $51.32 Unrealized —

BLFS BIOLIFE SOLUTIONS INC 0.0%

Value $2.579M Shares 91,316 Est. Cost $26.33 Unrealized —

CPT CAMDEN PPTY TR 0.1%

Value $6.538M Shares 57,104 Est. Cost $112.08 Unrealized —

EQT EQT CORP 0.1%

Value $3.138M Shares 59,017 Est. Cost $53.10 Unrealized —

ONC BEONE MEDICINES LTD 0.2%

Value $12.2M Shares 42,815 Est. Cost $179.70 Unrealized —

CRH CRH PLC 0.4%

Value $21.77M Shares 203,461 Est. Cost $55.49 Unrealized —

AON AON PLC 0.3%

Value $15.34M Shares 46,248 Est. Cost $349.55 Unrealized —

EQR EQUITY RESIDENTIAL 0.1%

Value $3.538M Shares 52,076 Est. Cost $66.62 Unrealized —

LLY ELI LILLY & CO 0.0%

Value $1.394M Shares 1,162 Est. Cost $911.47 Unrealized —

GLD SPDR GOLD TR 0.0%

Value $1.946M Shares 5,273 Est. Cost $304.33 Unrealized —

LIN LINDE PLC 0.1%

Value $5.025M Shares 9,684 Est. Cost $322.30 Unrealized —

MAA MID-AMER APT CMNTYS INC 0.0%

Value $1.989M Shares 14,312 Est. Cost $152.49 Unrealized —

VSGX VANGUARD WORLD FD 0.0%

Value $1.466M Shares 17,809 Est. Cost $71.73 Unrealized —

— ZIFF DAVIS INC 0.2%

Value $9.952M Shares 10,000,000 Est. Cost $0.93 Unrealized —

AVB AVALONBAY CMNTYS INC 0.0%

Value $1.218M Shares 6,454 Est. Cost $199.04 Unrealized —

ABEV AMBEV SA 0.0%

Value $1.953M Shares 621,824 Est. Cost $2.56 Unrealized —

ESS ESSEX PPTY TR INC 0.0%

Value $880K Shares 3,019 Est. Cost $273.00 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.0%

Value $1.174M Shares 16,483 Est. Cost $64.08 Unrealized —

PAVE GLOBAL X FDS 0.0%

Value $751K Shares 12,744 Est. Cost $32.45 Unrealized —

FLOT ISHARES TR 0.7%

Value $39.82M Shares 780,000 Est. Cost $50.51 Unrealized —

HNRG HALLADOR ENERGY COMPANY 0.0%

Value $1.204M Shares 69,239 Est. Cost $7.35 Unrealized —

AXIA/PC AXIA ENERGIA SA 0.0%

Value $2.007M Shares 190,242 Est. Cost $8.62 Unrealized —

MCI BARINGS CORPORATE INVS 0.1%

Value $3.857M Shares 219,664 Est. Cost $18.62 Unrealized —

C CITIGROUP INC 0.0%

Value $257K Shares 1,834 Est. Cost $104.33 Unrealized —

— SABRE GLBL INC 0.4%

Value $21.98M Shares 21,908,000 Est. Cost $0.95 Unrealized —

LEMB ISHARES INC 0.0%

Value $1.09M Shares 25,700 Est. Cost $40.80 Unrealized —

BBD BANCO BRADESCO S A 0.0%

Value $786K Shares 226,608 Est. Cost $3.65 Unrealized —

VGK VANGUARD INTL EQUITY INDEX F 0.0%

Value $529K Shares 5,980 Est. Cost $82.43 Unrealized —

FPE FIRST TR EXCH TRADED FD III 0.1%

Value $2.952M Shares 165,116 Est. Cost $16.69 Unrealized —

JNJ JOHNSON & JOHNSON 0.0%

Value $278K Shares 1,094 Est. Cost $151.52 Unrealized —

KORE KORE GROUP HLDGS INC 0.0%

Value $456K Shares 49,433 Est. Cost $2.40 Unrealized —

CURI CURIOSITYSTREAM INC 0.0%

Value $74,294 Shares 27,930 Est. Cost $11.17 Unrealized —

ICSH ISHARES TR 0.1%

Value $3.976M Shares 78,600 Est. Cost $50.58 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ARX	ACCELERANT HOLDINGS	3,128,867	$37.61M	0.7%	$23.42	—	CL A	G00894108
BBDC	BARINGS BDC, INC.	13,639,681	$116M	2.1%	$5.27	—	COM	06759L103
VOO	VANGUARD INDEX FDS	35,299	$24.24M	0.4%	$527.67	—	S&P 500 ETF SHS	922908363
SE	SEA LTD	244,505	$23.43M	0.4%	$71.91	—	SPONSORD ADS	81141R100
QQQM	INVESCO EXCH TRADED FD TR II	39,184	$11.87M	0.2%	$214.44	—	NASDAQ 100 ETF	46138G649
IWM	ISHARES TR	34,127	$10.25M	0.2%	$248.00	—	RUSSELL 2000 ETF	464287655
EPAM	EPAM SYS INC	26,486	$2.102M	0.0%	$178.28	—	COM	29414B104
HTHT	H WORLD GROUP LTD	165,532	$6.906M	0.1%	$50.29	—	SPONSORED ADS	44332N106
CTGO	CONTANGO SILVER & GOLD INC	476,190	$7.519M	0.1%	$20.36	—	COM	21077F100
—	OMNICELL COM	15,735,000	$16.64M	0.3%	$1.08	—	NOTE 1.000%12/0	68213NAF6
VCSH	VANGUARD SCOTTSDALE FDS	5,108,527	$404M	7.2%	$77.30	—	SHRT TRM CORP BD	92206C409
EOG	EOG RES INC	75,916	$9.849M	0.2%	$72.31	—	COM	26875P101
KSPI	KASPI KZ JSC	88,751	$7.689M	0.1%	$74.07	—	SPONSORED ADS	48581R205
EOSE	EOS ENERGY ENTERPRISES INC	1,204,430	$7.082M	0.1%	$7.72	—	COM CL A	29415C101
IGSB	ISHARES TR	6,840,027	$358M	6.4%	$51.32	—	ISHS 1-5YR INVS	464288646
BLFS	BIOLIFE SOLUTIONS INC	91,316	$2.579M	0.0%	$26.33	—	COM NEW	09062W204
CPT	CAMDEN PPTY TR	57,104	$6.538M	0.1%	$112.08	—	SH BEN INT	133131102
EQT	EQT CORP	59,017	$3.138M	0.1%	$53.10	—	COM	26884L109
ONC	BEONE MEDICINES LTD	42,815	$12.2M	0.2%	$179.70	—	SPONSORED ADS	07725L102
CRH	CRH PLC	203,461	$21.77M	0.4%	$55.49	—	ORD	G25508105
AON	AON PLC	46,248	$15.34M	0.3%	$349.55	—	SHS CL A	G0403H108
EQR	EQUITY RESIDENTIAL	52,076	$3.538M	0.1%	$66.62	—	SH BEN INT	29476L107
LLY	ELI LILLY & CO	1,162	$1.394M	0.0%	$911.47	—	COM	532457108
GLD	SPDR GOLD TR	5,273	$1.946M	0.0%	$304.33	—	GOLD SHS	78463V107
LIN	LINDE PLC	9,684	$5.025M	0.1%	$322.30	—	SHS	G54950103
MAA	MID-AMER APT CMNTYS INC	14,312	$1.989M	0.0%	$152.49	—	COM	59522J103
VSGX	VANGUARD WORLD FD	17,809	$1.466M	0.0%	$71.73	—	ESG INTL STK ETF	921910725
—	ZIFF DAVIS INC	10,000,000	$9.952M	0.2%	$0.93	—	DEBT 3.625% 3/0	48123VAH5
AVB	AVALONBAY CMNTYS INC	6,454	$1.218M	0.0%	$199.04	—	COM	053484101
ABEV	AMBEV SA	621,824	$1.953M	0.0%	$2.56	—	SPONSORED ADR	02319V103
ESS	ESSEX PPTY TR INC	3,019	$880K	0.0%	$273.00	—	COM	297178105
VEA	VANGUARD TAX-MANAGED FDS	16,483	$1.174M	0.0%	$64.08	—	VAN FTSE DEV MKT	921943858
PAVE	GLOBAL X FDS	12,744	$751K	0.0%	$32.45	—	US INFR DEV ETF	37954Y673
FLOT	ISHARES TR	780,000	$39.82M	0.7%	$50.51	—	FLTG RATE NT ETF	46429B655
HNRG	HALLADOR ENERGY COMPANY	69,239	$1.204M	0.0%	$7.35	—	COM	40609P105
AXIA/PC	AXIA ENERGIA SA	190,242	$2.007M	0.0%	$8.62	—	SPON ADS PF CL C	15236F100
MCI	BARINGS CORPORATE INVS	219,664	$3.857M	0.1%	$18.62	—	COM	06759X107
C	CITIGROUP INC	1,834	$257K	0.0%	$104.33	—	COM NEW	172967424
—	SABRE GLBL INC	21,908,000	$21.98M	0.4%	$0.95	—	NOTE 7.320% 8/0	78573NAK8
LEMB	ISHARES INC	25,700	$1.09M	0.0%	$40.80	—	JP MORGAN EM ETF	464286517
BBD	BANCO BRADESCO S A	226,608	$786K	0.0%	$3.65	—	SP ADR PFD NEW	059460303
VGK	VANGUARD INTL EQUITY INDEX F	5,980	$529K	0.0%	$82.43	—	FTSE EUROPE ETF	922042874
FPE	FIRST TR EXCH TRADED FD III	165,116	$2.952M	0.1%	$16.69	—	PFD SECS INC ETF	33739E108
JNJ	JOHNSON & JOHNSON	1,094	$278K	0.0%	$151.52	—	COM	478160104
KORE	KORE GROUP HLDGS INC	49,433	$456K	0.0%	$2.40	—	COM NEW	50066V305
CURI	CURIOSITYSTREAM INC	27,930	$74,294	0.0%	$11.17	—	COM CL A	23130Q107
ICSH	ISHARES TR	78,600	$3.976M	0.1%	$50.58	—	ULTRA SHORT DUR	46434V878