Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
EMXC	ISHARES INC	180,317	$17.87M	0.3%	$99.08	$96.78	+2.4%	MSCI EMRG CHN	46434G764
XOM	EXXONMOBIL HOLDINGS CORP	102,337	$16.66M	0.3%	$162.75	$162.75	—	COM SHS	30233Q108
BAI	BLACKROCK ETF TRUST	178,620	$8.429M	0.1%	$47.19	$44.79	+5.4%	ISHA I IN TE ETF	09290C780
DB	DEUTSCHE BK AG	201,368	$7.272M	0.1%	$36.11	$37.53	-4.4%	NAMEN AKT	D18190898
ACR	ACRES COMMERCIAL REALTY CORP	590,326	$6.529M	0.1%	$11.06	$11.06	—	COM NEW	00489Q102
XP	XP INC	232,367	$4.88M	0.1%	$21.00	$17.77	+18.2%	CL A	G98239109
ALB	ALBEMARLE CORP	45,269	$4.789M	0.1%	$105.78	$124.08	-14.8%	COM	012653101
BVN	COMPANIA DE MINAS BUENAVENTU	110,146	$3.478M	0.1%	$31.58	$32.67	-3.3%	SPONSORED ADR	204448104
JBS	JBS N.V.	240,060	$2.71M	0.0%	$11.29	$12.78	-11.7%	CL A SHS	N4732M103
GRAB	GRAB HOLDINGS LIMITED	840,790	$2.615M	0.0%	$3.11	$3.46	-10.1%	CLASS A ORD	G4124C109
ABBV	ABBVIE INC	1,291	$338K	0.0%	$261.59	$256.36	+2.0%	COM	00287Y109
IEMG	ISHARES INC	3,000	$246K	0.0%	$81.89	$80.46	+0.9%	CORE MSCI EMKT	46434G103
CRWD	CROWDSTRIKE HLDGS INC	860	$228K	0.0%	$264.75	$212.27	+24.7%	CL A	22788C105
TXN	TEXAS INSTRS INC	745	$209K	0.0%	$280.09	$276.51	+1.3%	COM	882508104
NOW	SERVICENOW INC	1,549	$208K	0.0%	$134.01	$122.89	+9.1%	COM	81762P102
VWO	VANGUARD INTL EQUITY INDEX F	1,500	$89,430	0.0%	$59.62	$59.71	-0.7%	FTSE EMR MKT ETF	922042858

Increased Positions (53)

AAAP PACER FDS TR 1.7%

Value $100M (+297.4%) Shares 3,950,000 (+295.0%) Share Price $25.33 Est. Cost/Share $25.30 Unrealized @ Report Date +0.1%

IVV ISHARES TR 23.6%

Value $1.38B (+5.6%) Shares 1,797,868 (+3.1%) Share Price $767.52 Est. Cost/Share $418.14 Unrealized @ Report Date +83.2%

PBSC PACER FDS TR 1.7%

Value $98.58M (+292.1%) Shares 3,970,000 (+297.0%) Share Price $24.83 Est. Cost/Share $25.18 Unrealized @ Report Date -1.4%

JAAA JANUS DETROIT STR TR 5.2%

Value $303M (+22.2%) Shares 6,000,000 (+22.2%) Share Price $50.47 Est. Cost/Share $50.64 Unrealized @ Report Date -0.3%

QQQ INVESCO QQQ TR 11.4%

Value $668M (+5.0%) Shares 905,098 (+4.8%) Share Price $737.93 Est. Cost/Share $329.37 Unrealized @ Report Date +124.6%

AEM AGNICO EAGLE MINES LTD 0.4%

Value $21.69M (+276.5%) Shares 118,449 (+219.2%) Share Price $183.13 Est. Cost/Share $141.72 Unrealized @ Report Date +29.3%

IEF ISHARES TR 0.6%

Value $36.8M (+38.0%) Shares 412,045 (+46.2%) Share Price $89.31 Est. Cost/Share $96.45 Unrealized @ Report Date -7.4%

QGEN QIAGEN NV 0.4%

Value $22.82M (+65.6%) Shares 517,206 (+45.3%) Share Price $44.13 Est. Cost/Share $45.28 Unrealized @ Report Date -3.4%

IWO ISHARES TR 10.8%

Value $629M (+1.1%) Shares 1,761,650 (+11.5%) Share Price $357.32 Est. Cost/Share $253.16 Unrealized @ Report Date +41.0%

— HERBALIFE LTD 1.3%

Value $73.88M (+8.0%) Shares 67,857,000 (+13.8%) Share Price $1.09 Est. Cost/Share $0.93 Unrealized @ Report Date —

IBND SPDR SERIES TRUST 0.1%

Value $6.316M (+624.3%) Shares 211,382 (+655.9%) Share Price $29.88 Est. Cost/Share $31.02 Unrealized @ Report Date -3.7%

QQQM INVESCO EXCH TRADED FD TR II 0.3%

Value $16.67M (+40.4%) Shares 54,704 (+39.6%) Share Price $304.64 Est. Cost/Share $237.07 Unrealized @ Report Date +28.5%

BG BUNGE GLOBAL SA 0.1%

Value $7.591M (+68.3%) Shares 70,981 (+68.0%) Share Price $106.95 Est. Cost/Share $104.03 Unrealized @ Report Date +2.8%

KSPI KASPI KZ JSC 0.2%

Value $10.68M (+38.8%) Shares 113,509 (+27.9%) Share Price $94.06 Est. Cost/Share $79.83 Unrealized @ Report Date +17.8%

B BARRICK MNG CORP 0.1%

Value $8.15M (+50.8%) Shares 200,385 (+36.2%) Share Price $40.67 Est. Cost/Share $44.79 Unrealized @ Report Date -9.2%

NEM NEWMONT CORP 0.2%

Value $11.72M (+28.2%) Shares 101,646 (+3.8%) Share Price $115.34 Est. Cost/Share $63.56 Unrealized @ Report Date +81.5%

WMT WALMART INC 0.0%

Value $2.706M (+416.1%) Shares 26,039 (+462.5%) Share Price $103.92 Est. Cost/Share $112.21 Unrealized @ Report Date -7.4%

MOS MOSAIC CO 0.1%

Value $4.011M (+116.3%) Shares 185,260 (+111.7%) Share Price $21.65 Est. Cost/Share $25.34 Unrealized @ Report Date -14.6%

MSFT MICROSOFT CORP 0.1%

Value $6.646M (+47.0%) Shares 12,958 (+6.9%) Share Price $512.90 Est. Cost/Share $172.33 Unrealized @ Report Date +197.6%

TSN TYSON FOODS INC 0.0%

Value $2.882M (+123.6%) Shares 57,031 (+153.3%) Share Price $50.53 Est. Cost/Share $56.91 Unrealized @ Report Date -11.2%

META META PLATFORMS INC 0.1%

Value $3.459M (+73.6%) Shares 4,770 (+34.9%) Share Price $725.18 Est. Cost/Share $571.05 Unrealized @ Report Date +27.0%

SLB SLB LIMITED 0.1%

Value $4.959M (+28.4%) Shares 101,781 (+22.5%) Share Price $48.72 Est. Cost/Share $53.21 Unrealized @ Report Date -8.4%

LEMB ISHARES INC 0.0%

Value $2.048M (+87.8%) Shares 48,478 (+88.6%) Share Price $42.25 Est. Cost/Share $42.31 Unrealized @ Report Date -0.1%

AAPL APPLE INC 0.1%

Value $6.085M (+18.2%) Shares 18,272 (+2.7%) Share Price $333.02 Est. Cost/Share $201.99 Unrealized @ Report Date +64.9%

EMBD GLOBAL X FDS 0.3%

Value $15.15M (+5.9%) Shares 666,200 (+11.7%) Share Price $22.74 Est. Cost/Share $23.27 Unrealized @ Report Date -3.0%

WMB WILLIAMS COS INC 0.2%

Value $8.854M (-7.6%) Shares 130,256 (+1.0%) Share Price $67.97 Est. Cost/Share $70.10 Unrealized @ Report Date -3.0%

PLTR PALANTIR TECHNOLOGIES INC 0.0%

Value $1.158M (+137.4%) Shares 6,193 (+48.1%) Share Price $187.05 Est. Cost/Share $157.35 Unrealized @ Report Date +18.9%

EQR VIVMARK RESIDENTIAL 0.1%

Value $4.191M (+18.5%) Shares 70,102 (+34.6%) Share Price $59.79 Est. Cost/Share $64.87 Unrealized @ Report Date —

DE DEERE & CO 0.1%

Value $6.96M (+9.0%) Shares 10,364 (+2.9%) Share Price $671.55 Est. Cost/Share $380.03 Unrealized @ Report Date +76.7%

CNH CNH INDL N V 0.0%

Value $2.318M (+31.5%) Shares 180,370 (+14.9%) Share Price $12.85 Est. Cost/Share $11.23 Unrealized @ Report Date +14.5%

EWH ISHARES INC 0.0%

Value $2.363M (+27.1%) Shares 106,879 (+20.3%) Share Price $22.11 Est. Cost/Share $20.45 Unrealized @ Report Date +8.1%

TCPC BLACKROCK TCP CAPITAL CORP 0.0%

Value $2.481M (+24.8%) Shares 620,371 (+4.8%) Share Price $4.00 Est. Cost/Share $10.38 Unrealized @ Report Date -61.5%

CF CF INDUSTRIES HOLD 0.1%

Value $4.435M (+12.1%) Shares 38,497 (+5.4%) Share Price $115.20 Est. Cost/Share $87.53 Unrealized @ Report Date +31.6%

TSLA TESLA INC 0.0%

Value $832K (+96.2%) Shares 2,344 (+132.5%) Share Price $354.81 Est. Cost/Share $301.95 Unrealized @ Report Date +17.5%

MPV BARINGS PARTN INVS 0.1%

Value $4.506M (-7.5%) Shares 292,585 (+1.2%) Share Price $15.40 Est. Cost/Share $16.25 Unrealized @ Report Date —

AMZN AMAZON COM INC 0.1%

Value $5.475M (+6.7%) Shares 21,974 (+2.1%) Share Price $249.15 Est. Cost/Share $148.18 Unrealized @ Report Date +68.1%

V VISA INC 0.0%

Value $2.682M (+11.8%) Shares 7,464 (+6.7%) Share Price $359.33 Est. Cost/Share $326.85 Unrealized @ Report Date +9.9%

VALE VALE S A 0.1%

Value $6.945M (-3.4%) Shares 517,862 (+8.4%) Share Price $13.41 Est. Cost/Share $12.35 Unrealized @ Report Date +8.6%

ANDE ANDERSONS INC 0.0%

Value $2.286M (+9.0%) Shares 34,801 (+13.4%) Share Price $65.70 Est. Cost/Share $66.01 Unrealized @ Report Date -0.5%

GE GE AEROSPACE 0.0%

Value $1.321M (-12.2%) Shares 4,230 (+5.1%) Share Price $312.29 Est. Cost/Share $313.28 Unrealized @ Report Date -0.3%

JNJ JOHNSON & JOHNSON 0.0%

Value $437K (+57.3%) Shares 1,651 (+50.9%) Share Price $264.74 Est. Cost/Share $189.41 Unrealized @ Report Date +39.8%

LLY ELI LILLY & CO 0.0%

Value $1.542M (+10.7%) Shares 1,333 (+14.7%) Share Price $1157.08 Est. Cost/Share $945.92 Unrealized @ Report Date +22.3%

CX CEMEX SAB DE CV 0.0%

Value $2.67M (-4.2%) Shares 280,776 (+20.9%) Share Price $9.51 Est. Cost/Share $12.22 Unrealized @ Report Date -22.2%

GOOG ALPHABET INC 0.0%

Value $1.017M (+13.0%) Shares 2,984 (+17.2%) Share Price $340.74 Est. Cost/Share $146.12 Unrealized @ Report Date +133.2%

AGCO AGCO CORP 0.1%

Value $3.132M (+3.4%) Shares 27,416 (+8.4%) Share Price $114.23 Est. Cost/Share $103.29 Unrealized @ Report Date +10.6%

CSCO CISCO SYS INC 0.0%

Value $317K (+46.6%) Shares 2,949 (+60.0%) Share Price $107.63 Est. Cost/Share $107.61 Unrealized @ Report Date +0.0%

INTC INTEL CORP 0.0%

Value $392K (+28.8%) Shares 3,262 (+49.6%) Share Price $120.23 Est. Cost/Share $101.42 Unrealized @ Report Date +18.6%

AMD ADVANCED MICRO DEVICES INC 0.0%

Value $718K (+10.5%) Shares 1,174 (+4.9%) Share Price $611.76 Est. Cost/Share $244.35 Unrealized @ Report Date +150.4%

GOOGL ALPHABET INC 0.1%

Value $4.29M (+1.0%) Shares 12,468 (+4.9%) Share Price $344.08 Est. Cost/Share $131.09 Unrealized @ Report Date +162.5%

CAT CATERPILLAR INC 0.0%

Value $332K (+13.7%) Shares 409 (+49.3%) Share Price $810.79 Est. Cost/Share $743.88 Unrealized @ Report Date +9.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.0%

Value $521K (+6.3%) Shares 1,047 (+6.8%) Share Price $497.95 Est. Cost/Share $392.66 Unrealized @ Report Date +26.8%

UNH UNITEDHEALTH GROUP INC 0.0%

Value $238K (+13.5%) Shares 649 (+28.5%) Share Price $367.08 Est. Cost/Share $377.73 Unrealized @ Report Date -2.8%

— BARINGS GLOBAL SHORT DURATIO 0.0%

Value $219K (-4.9%) Shares 16,756 (+2.6%) Share Price $13.07 Est. Cost/Share $16.14 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AAAP	PACER FDS TR	3,950,000 (+295.0%)	$100M (+297.4%)	1.7%	$25.33	$25.30	+0.1%	BARINGS CLO MRKT	69384J604
IVV	ISHARES TR	1,797,868 (+3.1%)	$1.38B (+5.6%)	23.6%	$767.52	$418.14	+83.2%	CORE S&P500 ETF	464287200
PBSC	PACER FDS TR	3,970,000 (+297.0%)	$98.58M (+292.1%)	1.7%	$24.83	$25.18	-1.4%	BARINGS SECURED	69384J703
JAAA	JANUS DETROIT STR TR	6,000,000 (+22.2%)	$303M (+22.2%)	5.2%	$50.47	$50.64	-0.3%	HENDRSON AAA CL	47103U845
QQQ	INVESCO QQQ TR	905,098 (+4.8%)	$668M (+5.0%)	11.4%	$737.93	$329.37	+124.6%	UNIT SER 1	46090E103
AEM	AGNICO EAGLE MINES LTD	118,449 (+219.2%)	$21.69M (+276.5%)	0.4%	$183.13	$141.72	+29.3%	COM	008474108
IEF	ISHARES TR	412,045 (+46.2%)	$36.8M (+38.0%)	0.6%	$89.31	$96.45	-7.4%	7-10 YR TRSY BD	464287440
QGEN	QIAGEN NV	517,206 (+45.3%)	$22.82M (+65.6%)	0.4%	$44.13	$45.28	-3.4%	ORD SHARES	N72482156
IWO	ISHARES TR	1,761,650 (+11.5%)	$629M (+1.1%)	10.8%	$357.32	$253.16	+41.0%	RUS 2000 GRW ETF	464287648
—	HERBALIFE LTD	67,857,000 (+13.8%)	$73.88M (+8.0%)	1.3%	$1.09	$0.93	—	NOTE 4.250% 6/1	42703MAF0
IBND	SPDR SERIES TRUST	211,382 (+655.9%)	$6.316M (+624.3%)	0.1%	$29.88	$31.02	-3.7%	SST SPDR BLOOMBE	78464A151
QQQM	INVESCO EXCH TRADED FD TR II	54,704 (+39.6%)	$16.67M (+40.4%)	0.3%	$304.64	$237.07	+28.5%	NASDAQ 100 ETF	46138G649
BG	BUNGE GLOBAL SA	70,981 (+68.0%)	$7.591M (+68.3%)	0.1%	$106.95	$104.03	+2.8%	COM SHS	H11356104
KSPI	KASPI KZ JSC	113,509 (+27.9%)	$10.68M (+38.8%)	0.2%	$94.06	$79.83	+17.8%	SPONSORED ADS	48581R205
B	BARRICK MNG CORP	200,385 (+36.2%)	$8.15M (+50.8%)	0.1%	$40.67	$44.79	-9.2%	COM SHS	06849F108
NEM	NEWMONT CORP	101,646 (+3.8%)	$11.72M (+28.2%)	0.2%	$115.34	$63.56	+81.5%	COM	651639106
WMT	WALMART INC	26,039 (+462.5%)	$2.706M (+416.1%)	0.0%	$103.92	$112.21	-7.4%	COM	931142103
MOS	MOSAIC CO	185,260 (+111.7%)	$4.011M (+116.3%)	0.1%	$21.65	$25.34	-14.6%	COM	61945C103
MSFT	MICROSOFT CORP	12,958 (+6.9%)	$6.646M (+47.0%)	0.1%	$512.90	$172.33	+197.6%	COM	594918104
TSN	TYSON FOODS INC	57,031 (+153.3%)	$2.882M (+123.6%)	0.0%	$50.53	$56.91	-11.2%	CL A	902494103
META	META PLATFORMS INC	4,770 (+34.9%)	$3.459M (+73.6%)	0.1%	$725.18	$571.05	+27.0%	CL A	30303M102
SLB	SLB LIMITED	101,781 (+22.5%)	$4.959M (+28.4%)	0.1%	$48.72	$53.21	-8.4%	COM STK	806857108
LEMB	ISHARES INC	48,478 (+88.6%)	$2.048M (+87.8%)	0.0%	$42.25	$42.31	-0.1%	JP MORGAN EM ETF	464286517
AAPL	APPLE INC	18,272 (+2.7%)	$6.085M (+18.2%)	0.1%	$333.02	$201.99	+64.9%	COM	037833100
EMBD	GLOBAL X FDS	666,200 (+11.7%)	$15.15M (+5.9%)	0.3%	$22.74	$23.27	-3.0%	X EMERGING MKT	37954Y350
WMB	WILLIAMS COS INC	130,256 (+1.0%)	$8.854M (-7.6%)	0.2%	$67.97	$70.10	-3.0%	COM	969457100
PLTR	PALANTIR TECHNOLOGIES INC	6,193 (+48.1%)	$1.158M (+137.4%)	0.0%	$187.05	$157.35	+18.9%	CL A	69608A108
EQR	VIVMARK RESIDENTIAL	70,102 (+34.6%)	$4.191M (+18.5%)	0.1%	$59.79	$64.87	—	SH BEN INT	29476L107
DE	DEERE & CO	10,364 (+2.9%)	$6.96M (+9.0%)	0.1%	$671.55	$380.03	+76.7%	COM	244199105
CNH	CNH INDL N V	180,370 (+14.9%)	$2.318M (+31.5%)	0.0%	$12.85	$11.23	+14.5%	SHS	N20944109
EWH	ISHARES INC	106,879 (+20.3%)	$2.363M (+27.1%)	0.0%	$22.11	$20.45	+8.1%	MSCI HONG KG ETF	464286871
TCPC	BLACKROCK TCP CAPITAL CORP	620,371 (+4.8%)	$2.481M (+24.8%)	0.0%	$4.00	$10.38	-61.5%	COM	09259E108
CF	CF INDUSTRIES HOLD	38,497 (+5.4%)	$4.435M (+12.1%)	0.1%	$115.20	$87.53	+31.6%	COM	125269100
TSLA	TESLA INC	2,344 (+132.5%)	$832K (+96.2%)	0.0%	$354.81	$301.95	+17.5%	COM	88160R101
MPV	BARINGS PARTN INVS	292,585 (+1.2%)	$4.506M (-7.5%)	0.1%	$15.40	$16.25	—	SH BEN INT	06761A103
AMZN	AMAZON COM INC	21,974 (+2.1%)	$5.475M (+6.7%)	0.1%	$249.15	$148.18	+68.1%	COM	023135106
V	VISA INC	7,464 (+6.7%)	$2.682M (+11.8%)	0.0%	$359.33	$326.85	+9.9%	COM CL A	92826C839
VALE	VALE S A	517,862 (+8.4%)	$6.945M (-3.4%)	0.1%	$13.41	$12.35	+8.6%	SPONSORED ADS	91912E105
ANDE	ANDERSONS INC	34,801 (+13.4%)	$2.286M (+9.0%)	0.0%	$65.70	$66.01	-0.5%	COM	034164103
GE	GE AEROSPACE	4,230 (+5.1%)	$1.321M (-12.2%)	0.0%	$312.29	$313.28	-0.3%	COM NEW	369604301
JNJ	JOHNSON & JOHNSON	1,651 (+50.9%)	$437K (+57.3%)	0.0%	$264.74	$189.41	+39.8%	COM	478160104
LLY	ELI LILLY & CO	1,333 (+14.7%)	$1.542M (+10.7%)	0.0%	$1157.08	$945.92	+22.3%	COM	532457108
CX	CEMEX SAB DE CV	280,776 (+20.9%)	$2.67M (-4.2%)	0.0%	$9.51	$12.22	-22.2%	SPON ADR NEW	151290889
GOOG	ALPHABET INC	2,984 (+17.2%)	$1.017M (+13.0%)	0.0%	$340.74	$146.12	+133.2%	CAP STK CL C	02079K107
AGCO	AGCO CORP	27,416 (+8.4%)	$3.132M (+3.4%)	0.1%	$114.23	$103.29	+10.6%	COM	001084102
CSCO	CISCO SYS INC	2,949 (+60.0%)	$317K (+46.6%)	0.0%	$107.63	$107.61	+0.0%	COM	17275R102
INTC	INTEL CORP	3,262 (+49.6%)	$392K (+28.8%)	0.0%	$120.23	$101.42	+18.6%	COM	458140100
AMD	ADVANCED MICRO DEVICES INC	1,174 (+4.9%)	$718K (+10.5%)	0.0%	$611.76	$244.35	+150.4%	COM	007903107
GOOGL	ALPHABET INC	12,468 (+4.9%)	$4.29M (+1.0%)	0.1%	$344.08	$131.09	+162.5%	CAP STK CL A	02079K305
CAT	CATERPILLAR INC	409 (+49.3%)	$332K (+13.7%)	0.0%	$810.79	$743.88	+9.0%	COM	149123101
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,047 (+6.8%)	$521K (+6.3%)	0.0%	$497.95	$392.66	+26.8%	CL B NEW	084670702
UNH	UNITEDHEALTH GROUP INC	649 (+28.5%)	$238K (+13.5%)	0.0%	$367.08	$377.73	-2.8%	COM	91324P102
—	BARINGS GLOBAL SHORT DURATIO	16,756 (+2.6%)	$219K (-4.9%)	0.0%	$13.07	$16.14	—	COM	06760L100

Exited Positions (28)

— SABRE GLBL INC 0.4%

Value $21.98M Shares 21,908,000 Share Price $1.00 Est. Cost/Share $0.95 Unrealized @ Report Date —

XOM EXXON MOBIL CORP 0.2%

Value $13.77M Shares 100,721 Share Price $136.72 * Est. Cost/Share $61.39 Unrealized @ Report Date +165.1%

IWM ISHARES TR 0.2%

Value $10.25M Shares 34,127 Share Price $300.45 * Est. Cost/Share $257.95 Unrealized @ Report Date +7.7%

AXIA AXIA ENERGIA SA 0.1%

Value $8.258M Shares 782,040 Share Price $10.56 * Est. Cost/Share $8.64 Unrealized @ Report Date +10.3%

EQT EQT CORP 0.1%

Value $3.138M Shares 59,017 Share Price $53.17 * Est. Cost/Share $53.10 Unrealized @ Report Date -8.6%

AXIA/PC AXIA ENERGIA SA 0.0%

Value $2.007M Shares 190,242 Share Price $10.55 * Est. Cost/Share $8.62 Unrealized @ Report Date +10.2%

KR KROGER CO 0.0%

Value $1.593M Shares 28,691 Share Price $55.53 * Est. Cost/Share $68.35 Unrealized @ Report Date -14.2%

VSGX VANGUARD WORLD FD 0.0%

Value $1.466M Shares 17,809 Share Price $82.34 Est. Cost/Share $74.99 Unrealized @ Report Date +8.1%

JXI ISHARES TR 0.0%

Value $1.31M Shares 15,422 Share Price $84.97 * Est. Cost/Share $75.22 Unrealized @ Report Date +2.2%

MELI MERCADOLIBRE INC 0.0%

Value $1.293M Shares 762 Share Price $1697.39 Est. Cost/Share $1707.75 Unrealized @ Report Date +1.2%

AVB AVALONBAY CMNTYS INC 0.0%

Value $1.218M Shares 6,454 Share Price $188.69 Est. Cost/Share $199.04 Unrealized @ Report Date —

BBD BANCO BRADESCO S A 0.0%

Value $786K Shares 226,608 Share Price $3.47 Est. Cost/Share $3.79 Unrealized @ Report Date -7.2%

IEV ISHARES TR 0.0%

Value $703K Shares 9,654 Share Price $72.85 * Est. Cost/Share $56.95 Unrealized @ Report Date +24.9%

VGK VANGUARD INTL EQUITY INDEX F 0.0%

Value $529K Shares 5,980 Share Price $88.54 Est. Cost/Share $85.97 Unrealized @ Report Date +1.0%

KORE KORE GROUP HLDGS INC 0.0%

Value $456K Shares 49,433 Share Price $9.23 Est. Cost/Share $2.40 Unrealized @ Report Date +285.5%

COST COSTCO WHOLESALE CORPORATION 0.0%

Value $316K Shares 338 Share Price $935.47 * Est. Cost/Share $976.94 Unrealized @ Report Date -6.8%

PG PROCTER & GAMBLE CO 0.0%

Value $290K Shares 1,980 Share Price $146.64 Est. Cost/Share $150.79 Unrealized @ Report Date -3.7%

TKO TKO GROUP HOLDINGS INC 0.0%

Value $272K Shares 1,350 Share Price $201.31 * Est. Cost/Share $134.04 Unrealized @ Report Date +34.1%

PLD PROLOGIS INC. 0.0%

Value $259K Shares 1,910 Share Price $135.47 Est. Cost/Share $135.47 Unrealized @ Report Date —

AMT AMERICAN TOWER CORP 0.0%

Value $250K Shares 1,528 Share Price $163.57 Est. Cost/Share $163.57 Unrealized @ Report Date —

QCOM QUALCOMM INC 0.0%

Value $234K Shares 1,265 Share Price $184.79 Est. Cost/Share $187.00 Unrealized @ Report Date -1.6%

GEV GE VERNOVA INC 0.0%

Value $227K Shares 193 Share Price $1174.86 * Est. Cost/Share $1020.67 Unrealized @ Report Date -6.9%

SPG SIMON PPTY GROUP INC NEW 0.0%

Value $225K Shares 1,007 Share Price $223.65 Est. Cost/Share $223.65 Unrealized @ Report Date —

IBM INTERNATIONAL BUSINESS MACHS 0.0%

Value $221K Shares 786 Share Price $281.21 * Est. Cost/Share $251.95 Unrealized @ Report Date -12.7%

WDC WESTERN DIGITAL CORP 0.0%

Value $212K Shares 332 Share Price $638.72 * Est. Cost/Share $486.23 Unrealized @ Report Date -6.5%

CB CHUBB LIMITED 0.0%

Value $209K Shares 614 Share Price $340.74 * Est. Cost/Share $326.17 Unrealized @ Report Date -0.3%

NFLX NETFLIX INC. 0.0%

Value $205K Shares 2,871 Share Price $71.40 * Est. Cost/Share $99.34 Unrealized @ Report Date -30.0%

CVS CVS HEALTH CORP 0.0%

Value $200K Shares 1,934 Share Price $103.45 * Est. Cost/Share $89.26 Unrealized @ Report Date -4.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	SABRE GLBL INC	21,908,000	$21.98M	0.4%	$1.00	$0.95	—	—	78573NAK8
XOM	EXXON MOBIL CORP	100,721	$13.77M	0.2%	$136.72 *	$61.39	+165.1%	—	30231G102
IWM	ISHARES TR	34,127	$10.25M	0.2%	$300.45 *	$257.95	+7.7%	—	464287655
AXIA	AXIA ENERGIA SA	782,040	$8.258M	0.1%	$10.56 *	$8.64	+10.3%	—	15234Q207
EQT	EQT CORP	59,017	$3.138M	0.1%	$53.17 *	$53.10	-8.6%	—	26884L109
AXIA/PC	AXIA ENERGIA SA	190,242	$2.007M	0.0%	$10.55 *	$8.62	+10.2%	—	15236F100
KR	KROGER CO	28,691	$1.593M	0.0%	$55.53 *	$68.35	-14.2%	—	501044101
VSGX	VANGUARD WORLD FD	17,809	$1.466M	0.0%	$82.34	$74.99	+8.1%	—	921910725
JXI	ISHARES TR	15,422	$1.31M	0.0%	$84.97 *	$75.22	+2.2%	—	464288711
MELI	MERCADOLIBRE INC	762	$1.293M	0.0%	$1697.39	$1707.75	+1.2%	—	58733R102
AVB	AVALONBAY CMNTYS INC	6,454	$1.218M	0.0%	$188.69	$199.04	—	—	053484101
BBD	BANCO BRADESCO S A	226,608	$786K	0.0%	$3.47	$3.79	-7.2%	—	059460303
IEV	ISHARES TR	9,654	$703K	0.0%	$72.85 *	$56.95	+24.9%	—	464287861
VGK	VANGUARD INTL EQUITY INDEX F	5,980	$529K	0.0%	$88.54	$85.97	+1.0%	—	922042874
KORE	KORE GROUP HLDGS INC	49,433	$456K	0.0%	$9.23	$2.40	+285.5%	—	50066V305
COST	COSTCO WHOLESALE CORPORATION	338	$316K	0.0%	$935.47 *	$976.94	-6.8%	—	22160K105
PG	PROCTER & GAMBLE CO	1,980	$290K	0.0%	$146.64	$150.79	-3.7%	—	742718109
TKO	TKO GROUP HOLDINGS INC	1,350	$272K	0.0%	$201.31 *	$134.04	+34.1%	—	87256C101
PLD	PROLOGIS INC.	1,910	$259K	0.0%	$135.47	$135.47	—	—	74340W103
AMT	AMERICAN TOWER CORP	1,528	$250K	0.0%	$163.57	$163.57	—	—	03027X100
QCOM	QUALCOMM INC	1,265	$234K	0.0%	$184.79	$187.00	-1.6%	—	747525103
GEV	GE VERNOVA INC	193	$227K	0.0%	$1174.86 *	$1020.67	-6.9%	—	36828A101
SPG	SIMON PPTY GROUP INC NEW	1,007	$225K	0.0%	$223.65	$223.65	—	—	828806109
IBM	INTERNATIONAL BUSINESS MACHS	786	$221K	0.0%	$281.21 *	$251.95	-12.7%	—	459200101
WDC	WESTERN DIGITAL CORP	332	$212K	0.0%	$638.72 *	$486.23	-6.5%	—	958102105
CB	CHUBB LIMITED	614	$209K	0.0%	$340.74 *	$326.17	-0.3%	—	H1467J104
NFLX	NETFLIX INC.	2,871	$205K	0.0%	$71.40 *	$99.34	-30.0%	—	64110L106
CVS	CVS HEALTH CORP	1,934	$200K	0.0%	$103.45 *	$89.26	-4.0%	—	126650100

Decreased Positions (43)

USHY ISHARES TR 0.1%

Value $4.294M (-86.9%) Shares 120,200 (-86.4%) Share Price $35.72 Est. Cost/Share $37.18 Unrealized @ Report Date -3.9%

EEM ISHARES TR 0.0%

Value $2.414M (-90.3%) Shares 36,138 (-90.1%) Share Price $66.79 Est. Cost/Share $53.78 Unrealized @ Report Date +24.2%

VT VANGUARD INTL EQUITY INDEX F 1.6%

Value $94.85M (-17.5%) Shares 600,872 (-18.0%) Share Price $157.85 Est. Cost/Share $120.88 Unrealized @ Report Date +30.6%

— NCL CORP LTD 0.7%

Value $43.77M (-28.1%) Shares 48,133,000 (-11.9%) Share Price $0.91 Est. Cost/Share $1.11 Unrealized @ Report Date —

EWJ ISHARES INC 0.2%

Value $11.17M (-57.5%) Shares 114,579 (-59.3%) Share Price $97.46 Est. Cost/Share $78.10 Unrealized @ Report Date +24.8%

SPY STATE STR SPDR S&P 500 ETF T 0.7%

Value $39.53M (-16.8%) Shares 51,838 (-18.5%) Share Price $762.63 Est. Cost/Share $539.10 Unrealized @ Report Date +41.5%

NU NU HLDGS LTD 0.2%

Value $12.14M (-39.1%) Shares 958,919 (-35.7%) Share Price $12.66 Est. Cost/Share $13.11 Unrealized @ Report Date -3.5%

RACE FERRARI N V 0.0%

Value $1.331M (-85.1%) Shares 3,392 (-86.0%) Share Price $392.52 Est. Cost/Share $361.72 Unrealized @ Report Date +8.6%

WPM WHEATON PRECIOUS METALS CORP 0.4%

Value $21.24M (-24.1%) Shares 159,012 (-36.1%) Share Price $133.55 Est. Cost/Share $53.76 Unrealized @ Report Date +148.7%

URTH ISHARES INC 0.8%

Value $44.75M (-12.3%) Shares 216,973 (-13.9%) Share Price $206.23 Est. Cost/Share $136.31 Unrealized @ Report Date +51.3%

AZN ASTRAZENECA PLC 0.3%

Value $18.76M (-20.5%) Shares 115,143 (-8.7%) Share Price $162.89 Est. Cost/Share $191.34 Unrealized @ Report Date -16.3%

TTE TOTALENERGIES SE 0.5%

Value $27.69M (-14.8%) Shares 322,860 (-22.8%) Share Price $85.78 Est. Cost/Share $67.56 Unrealized @ Report Date +26.6%

— PARSONS CORP DEL 1.0%

Value $56.47M (-7.0%) Shares 60,166,000 (-2.5%) Share Price $0.94 Est. Cost/Share $1.01 Unrealized @ Report Date —

AON AON PLC 0.2%

Value $11.37M (-25.9%) Shares 41,089 (-11.2%) Share Price $276.77 Est. Cost/Share $349.55 Unrealized @ Report Date -20.8%

FMX FOMENTO ECONOMICO MEXICANO S 0.1%

Value $4.931M (-44.2%) Shares 41,593 (-39.8%) Share Price $118.56 Est. Cost/Share $108.24 Unrealized @ Report Date +9.5%

HDB HDFC BANK LTD 0.2%

Value $11.89M (-24.2%) Shares 532,062 (-12.4%) Share Price $22.34 Est. Cost/Share $31.40 Unrealized @ Report Date -28.8%

IGF ISHARES TR 0.0%

Value $797K (-81.0%) Shares 12,939 (-79.5%) Share Price $61.56 Est. Cost/Share $60.43 Unrealized @ Report Date +1.9%

VGT VANGUARD WORLD FD 0.5%

Value $30.64M (-9.8%) Shares 243,811 (-14.2%) Share Price $125.67 Est. Cost/Share $106.88 Unrealized @ Report Date +17.6%

SU SUNCOR ENERGY INC NEW 0.4%

Value $22.97M (+14.3%) Shares 338,770 (-9.4%) Share Price $67.81 Est. Cost/Share $50.47 Unrealized @ Report Date +34.5%

PDD PDD HOLDINGS INC 0.7%

Value $42.5M (-5.2%) Shares 545,315 (-7.2%) Share Price $77.94 Est. Cost/Share $102.25 Unrealized @ Report Date -23.8%

FCX FREEPORT MCMORAN INC 0.1%

Value $5.115M (-31.4%) Shares 73,074 (-38.4%) Share Price $70.00 Est. Cost/Share $43.26 Unrealized @ Report Date +61.8%

VLO VALERO ENERGY CORP 0.1%

Value $6.51M (-25.7%) Shares 16,795 (-50.1%) Share Price $387.61 Est. Cost/Share $166.35 Unrealized @ Report Date +133.0%

EOG EOG RES INC 0.1%

Value $7.644M (-22.4%) Shares 55,486 (-26.9%) Share Price $137.76 Est. Cost/Share $72.31 Unrealized @ Report Date +90.5%

FANG DIAMONDBACK ENERGY INC 0.1%

Value $4.175M (-34.4%) Shares 22,712 (-37.3%) Share Price $183.81 Est. Cost/Share $169.92 Unrealized @ Report Date +8.2%

MU MICRON TECHNOLOGY INC 0.0%

Value $936K (-68.4%) Shares 879 (-65.7%) Share Price $1065.11 Est. Cost/Share $391.96 Unrealized @ Report Date +171.7%

TECK TECK RESOURCES LTD 0.1%

Value $3.569M (-35.2%) Shares 54,246 (-41.4%) Share Price $65.79 Est. Cost/Share $44.21 Unrealized @ Report Date +48.8%

CCJ CAMECO CORP 0.1%

Value $4.104M (-29.7%) Shares 47,333 (-17.4%) Share Price $86.70 Est. Cost/Share $88.26 Unrealized @ Report Date -1.8%

SQM SOCIEDAD QUIMICA Y MINERA DE 0.1%

Value $3.973M (-28.6%) Shares 61,241 (-18.5%) Share Price $64.87 Est. Cost/Share $57.47 Unrealized @ Report Date +12.9%

VCLT VANGUARD SCOTTSDALE FDS 0.0%

Value $1.393M (-53.1%) Shares 20,330 (-48.4%) Share Price $68.50 Est. Cost/Share $77.04 Unrealized @ Report Date -11.1%

COP CONOCOPHILLIPS 0.2%

Value $10.83M (-8.5%) Shares 86,526 (-24.0%) Share Price $125.15 Est. Cost/Share $54.18 Unrealized @ Report Date +131.0%

NVDA NVIDIA CORPORATION 0.1%

Value $8.525M (+11.3%) Shares 37,326 (-2.4%) Share Price $228.38 Est. Cost/Share $117.27 Unrealized @ Report Date +94.7%

ACWI ISHARES TR 0.1%

Value $3.053M (-19.8%) Shares 19,230 (-20.7%) Share Price $158.77 Est. Cost/Share $108.17 Unrealized @ Report Date +46.8%

ITUB ITAU UNIBANCO HLDG S A 0.3%

Value $16.08M (-3.7%) Shares 1,884,649 (-7.8%) Share Price $8.53 Est. Cost/Share $6.94 Unrealized @ Report Date +22.9%

BABA ALIBABA GROUP HLDG LTD 0.0%

Value $543K (-48.1%) Shares 5,051 (-53.7%) Share Price $107.54 Est. Cost/Share $160.43 Unrealized @ Report Date -33.0%

ADM ARCHER DANIELS MIDLAND CO 0.1%

Value $3.803M (-11.4%) Shares 47,909 (-14.7%) Share Price $79.38 Est. Cost/Share $56.51 Unrealized @ Report Date +40.5%

URI UNITED RENTALS INC 0.0%

Value $615K (-43.5%) Shares 615 (-36.1%) Share Price $1000.78 Est. Cost/Share $514.80 Unrealized @ Report Date +94.4%

AVGO BROADCOM INC 0.0%

Value $1.63M (-14.3%) Shares 4,642 (-7.8%) Share Price $351.19 Est. Cost/Share $261.40 Unrealized @ Report Date +34.3%

GDX VANECK ETF TRUST 0.1%

Value $5.208M (-2.9%) Shares 59,318 (-16.5%) Share Price $87.80 Est. Cost/Share $76.90 Unrealized @ Report Date +14.2%

PSX PHILLIPS 66 0.1%

Value $7.218M (+1.7%) Shares 28,271 (-32.7%) Share Price $255.31 Est. Cost/Share $172.14 Unrealized @ Report Date +48.3%

TSCO TRACTOR SUPPLY CO 0.0%

Value $1.007M (-6.5%) Shares 32,170 (-5.5%) Share Price $31.29 Est. Cost/Share $51.67 Unrealized @ Report Date -39.4%

BAC BANK OF AMER CORP 0.0%

Value $350K (-13.5%) Shares 6,435 (-9.5%) Share Price $54.43 Est. Cost/Share $42.77 Unrealized @ Report Date +27.3%

MRK MERCK & CO INC 0.0%

Value $278K (-15.4%) Shares 1,914 (-25.1%) Share Price $145.31 Est. Cost/Share $117.05 Unrealized @ Report Date +24.1%

SCCO SOUTHERN COPPER CORP 0.1%

Value $3.469M (+0.3%) Shares 17,121 (-13.8%) Share Price $202.64 Est. Cost/Share $124.90 Unrealized @ Report Date +62.2%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
USHY	ISHARES TR	120,200 (-86.4%)	$4.294M (-86.9%)	0.1%	$35.72	$37.18	-3.9%	BROAD USD HIGH	46435U853
EEM	ISHARES TR	36,138 (-90.1%)	$2.414M (-90.3%)	0.0%	$66.79	$53.78	+24.2%	MSCI EMG MKT ETF	464287234
VT	VANGUARD INTL EQUITY INDEX F	600,872 (-18.0%)	$94.85M (-17.5%)	1.6%	$157.85	$120.88	+30.6%	TT WRLD ST ETF	922042742
—	NCL CORP LTD	48,133,000 (-11.9%)	$43.77M (-28.1%)	0.7%	$0.91	$1.11	—	NOTE 0.875% 4/1	62886HBT7
EWJ	ISHARES INC	114,579 (-59.3%)	$11.17M (-57.5%)	0.2%	$97.46	$78.10	+24.8%	MSCI JAPAN ETF	46434G822
SPY	STATE STR SPDR S&P 500 ETF T	51,838 (-18.5%)	$39.53M (-16.8%)	0.7%	$762.63	$539.10	+41.5%	TR UNIT	78462F103
NU	NU HLDGS LTD	958,919 (-35.7%)	$12.14M (-39.1%)	0.2%	$12.66	$13.11	-3.5%	ORD SHS CL A	G6683N103
RACE	FERRARI N V	3,392 (-86.0%)	$1.331M (-85.1%)	0.0%	$392.52	$361.72	+8.6%	COM	N3167Y103
WPM	WHEATON PRECIOUS METALS CORP	159,012 (-36.1%)	$21.24M (-24.1%)	0.4%	$133.55	$53.76	+148.7%	COM	962879102
URTH	ISHARES INC	216,973 (-13.9%)	$44.75M (-12.3%)	0.8%	$206.23	$136.31	+51.3%	MSCI WORLD ETF	464286392
AZN	ASTRAZENECA PLC	115,143 (-8.7%)	$18.76M (-20.5%)	0.3%	$162.89	$191.34	-16.3%	ORD	G0593M107
TTE	TOTALENERGIES SE	322,860 (-22.8%)	$27.69M (-14.8%)	0.5%	$85.78	$67.56	+26.6%	ACT	F92124100
—	PARSONS CORP DEL	60,166,000 (-2.5%)	$56.47M (-7.0%)	1.0%	$0.94	$1.01	—	NOTE 2.625% 3/0	70202LAD4
AON	AON PLC	41,089 (-11.2%)	$11.37M (-25.9%)	0.2%	$276.77	$349.55	-20.8%	SHS CL A	G0403H108
FMX	FOMENTO ECONOMICO MEXICANO S	41,593 (-39.8%)	$4.931M (-44.2%)	0.1%	$118.56	$108.24	+9.5%	SPON ADR UNITS	344419106
HDB	HDFC BANK LTD	532,062 (-12.4%)	$11.89M (-24.2%)	0.2%	$22.34	$31.40	-28.8%	SPONSORED ADS	40415F101
IGF	ISHARES TR	12,939 (-79.5%)	$797K (-81.0%)	0.0%	$61.56	$60.43	+1.9%	GLB INFRASTR ETF	464288372
VGT	VANGUARD WORLD FD	243,811 (-14.2%)	$30.64M (-9.8%)	0.5%	$125.67	$106.88	+17.6%	INF TECH ETF	92204A702
SU	SUNCOR ENERGY INC NEW	338,770 (-9.4%)	$22.97M (+14.3%)	0.4%	$67.81	$50.47	+34.5%	COM	867224107
PDD	PDD HOLDINGS INC	545,315 (-7.2%)	$42.5M (-5.2%)	0.7%	$77.94	$102.25	-23.8%	SPONSORED ADS	722304102
FCX	FREEPORT MCMORAN INC	73,074 (-38.4%)	$5.115M (-31.4%)	0.1%	$70.00	$43.26	+61.8%	CL B	35671D857
VLO	VALERO ENERGY CORP	16,795 (-50.1%)	$6.51M (-25.7%)	0.1%	$387.61	$166.35	+133.0%	COM	91913Y100
EOG	EOG RES INC	55,486 (-26.9%)	$7.644M (-22.4%)	0.1%	$137.76	$72.31	+90.5%	COM	26875P101
FANG	DIAMONDBACK ENERGY INC	22,712 (-37.3%)	$4.175M (-34.4%)	0.1%	$183.81	$169.92	+8.2%	COM	25278X109
MU	MICRON TECHNOLOGY INC	879 (-65.7%)	$936K (-68.4%)	0.0%	$1065.11	$391.96	+171.7%	COM	595112103
TECK	TECK RESOURCES LTD	54,246 (-41.4%)	$3.569M (-35.2%)	0.1%	$65.79	$44.21	+48.8%	CL B	878742204
CCJ	CAMECO CORP	47,333 (-17.4%)	$4.104M (-29.7%)	0.1%	$86.70	$88.26	-1.8%	COM	13321L108
SQM	SOCIEDAD QUIMICA Y MINERA DE	61,241 (-18.5%)	$3.973M (-28.6%)	0.1%	$64.87	$57.47	+12.9%	SPON ADR SER B	833635105
VCLT	VANGUARD SCOTTSDALE FDS	20,330 (-48.4%)	$1.393M (-53.1%)	0.0%	$68.50	$77.04	-11.1%	LG-TERM COR BD	92206C813
COP	CONOCOPHILLIPS	86,526 (-24.0%)	$10.83M (-8.5%)	0.2%	$125.15	$54.18	+131.0%	COM	20825C104
NVDA	NVIDIA CORPORATION	37,326 (-2.4%)	$8.525M (+11.3%)	0.1%	$228.38	$117.27	+94.7%	COM	67066G104
ACWI	ISHARES TR	19,230 (-20.7%)	$3.053M (-19.8%)	0.1%	$158.77	$108.17	+46.8%	MSCI ACWI ETF	464288257
ITUB	ITAU UNIBANCO HLDG S A	1,884,649 (-7.8%)	$16.08M (-3.7%)	0.3%	$8.53	$6.94	+22.9%	SPON ADR REP PFD	465562106
BABA	ALIBABA GROUP HLDG LTD	5,051 (-53.7%)	$543K (-48.1%)	0.0%	$107.54	$160.43	-33.0%	SPONSORED ADS	01609W102
ADM	ARCHER DANIELS MIDLAND CO	47,909 (-14.7%)	$3.803M (-11.4%)	0.1%	$79.38	$56.51	+40.5%	COM	039483102
URI	UNITED RENTALS INC	615 (-36.1%)	$615K (-43.5%)	0.0%	$1000.78	$514.80	+94.4%	COM	911363109
AVGO	BROADCOM INC	4,642 (-7.8%)	$1.63M (-14.3%)	0.0%	$351.19	$261.40	+34.3%	COM	11135F101
GDX	VANECK ETF TRUST	59,318 (-16.5%)	$5.208M (-2.9%)	0.1%	$87.80	$76.90	+14.2%	GOLD MINERS ETF	92189F106
PSX	PHILLIPS 66	28,271 (-32.7%)	$7.218M (+1.7%)	0.1%	$255.31	$172.14	+48.3%	COM	718546104
TSCO	TRACTOR SUPPLY CO	32,170 (-5.5%)	$1.007M (-6.5%)	0.0%	$31.29	$51.67	-39.4%	COM	892356106
BAC	BANK OF AMER CORP	6,435 (-9.5%)	$350K (-13.5%)	0.0%	$54.43	$42.77	+27.3%	COM	060505104
MRK	MERCK & CO INC	1,914 (-25.1%)	$278K (-15.4%)	0.0%	$145.31	$117.05	+24.1%	COM	58933Y105
SCCO	SOUTHERN COPPER CORP	17,121 (-13.8%)	$3.469M (+0.3%)	0.1%	$202.64	$124.90	+62.2%	COM	84265V105

Unchanged Positions (67)

ARX ACCELERANT HOLDINGS 1.1%

Value $61.73M Shares 3,128,867 Share Price $19.73 Est. Cost/Share $23.42 Unrealized @ Report Date -15.8%

LQD ISHARES TR 4.8%

Value $278M Shares 2,720,211 Share Price $102.18 Est. Cost/Share $110.16 Unrealized @ Report Date -7.2%

VCSH VANGUARD SCOTTSDALE FDS 6.8%

Value $395M Shares 5,108,527 Share Price $77.25 Est. Cost/Share $77.19 Unrealized @ Report Date +0.1%

IGSB ISHARES TR 6.0%

Value $350M Shares 6,840,027 Share Price $51.23 Est. Cost/Share $51.21 Unrealized @ Report Date +0.0%

AU ANGLOGOLD ASHANTI PLC 0.7%

Value $42.73M Shares 455,946 Share Price $93.72 Est. Cost/Share $25.90 Unrealized @ Report Date +262.7%

CRH CRH PLC 0.3%

Value $16.85M Shares 203,461 Share Price $82.80 Est. Cost/Share $55.49 Unrealized @ Report Date +49.2%

CVX CHEVRON CORPORATION 0.3%

Value $20.23M Shares 99,043 Share Price $204.21 Est. Cost/Share $138.22 Unrealized @ Report Date +47.7%

ONC BEONE MEDICINES LTD 0.3%

Value $15.67M Shares 42,815 Share Price $365.94 Est. Cost/Share $174.06 Unrealized @ Report Date +110.2%

EOSE EOS ENERGY ENTERPRISES INC 0.1%

Value $3.698M Shares 1,204,430 Share Price $3.07 Est. Cost/Share $7.72 Unrealized @ Report Date -60.3%

— UNITI GROUP LLC 0.4%

Value $25.78M Shares 23,333,000 Share Price $1.10 Est. Cost/Share $1.12 Unrealized @ Report Date —

PBR/A PETROLEO BRASILEIRO S A 0.2%

Value $9.095M Shares 478,910 Share Price $18.99 Est. Cost/Share $12.37 Unrealized @ Report Date +53.5%

FN FABRINET 0.1%

Value $5.6M Shares 13,199 Share Price $424.27 Est. Cost/Share $122.66 Unrealized @ Report Date +245.9%

NTR NUTRIEN LTD 0.3%

Value $15.8M Shares 224,856 Share Price $70.25 Est. Cost/Share $63.81 Unrealized @ Report Date +10.1%

BBDC BARINGS BDC INC 2.0%

Value $118M Shares 13,639,681 Share Price $8.62 Est. Cost/Share $5.27 Unrealized @ Report Date +63.4%

DAR DARLING INGREDIENTS INC 0.2%

Value $11.05M Shares 182,050 Share Price $60.71 Est. Cost/Share $37.98 Unrealized @ Report Date +59.8%

DYNF BLACKROCK ETF TRUST 0.9%

Value $53.15M Shares 767,392 Share Price $69.26 Est. Cost/Share $60.07 Unrealized @ Report Date +15.3%

CPT CAMDEN PPTY TR 0.1%

Value $5.48M Shares 57,104 Share Price $95.96 Est. Cost/Share $112.08 Unrealized @ Report Date —

— OMNICELL COM 0.3%

Value $15.62M Shares 15,735,000 Share Price $0.99 Est. Cost/Share $1.08 Unrealized @ Report Date —

CIB GRUPO CIBEST SA 0.1%

Value $6.874M Shares 74,034 Share Price $92.85 Est. Cost/Share $54.54 Unrealized @ Report Date +70.2%

DVN DEVON ENERGY CORP NEW 0.2%

Value $9.569M Shares 207,849 Share Price $46.04 Est. Cost/Share $46.35 Unrealized @ Report Date -0.7%

BLFS BIOLIFE SOLUTIONS INC 0.1%

Value $3.548M Shares 91,316 Share Price $38.85 Est. Cost/Share $26.33 Unrealized @ Report Date +47.6%

EPAM EPAM SYS INC 0.0%

Value $2.87M Shares 26,486 Share Price $108.36 Est. Cost/Share $178.28 Unrealized @ Report Date -39.2%

WY WEYERHAEUSER CO 0.0%

Value $2.741M Shares 143,864 Share Price $19.05 Est. Cost/Share $28.51 Unrealized @ Report Date —

KLAC KLA CORP 0.0%

Value $898K Shares 4,605 Share Price $194.93 Est. Cost/Share $1501.82 Unrealized @ Report Date -87.0%

VOO VANGUARD INDEX FDS 0.4%

Value $24.74M Shares 35,299 Share Price $700.86 Est. Cost/Share $508.30 Unrealized @ Report Date +37.9%

CTVA CORTEVA INC 0.1%

Value $5.212M Shares 67,121 Share Price $77.65 Est. Cost/Share $54.57 Unrealized @ Report Date +42.3%

CTGO CONTANGO SILVER & GOLD INC 0.1%

Value $7.99M Shares 476,190 Share Price $16.78 Est. Cost/Share $20.36 Unrealized @ Report Date -17.6%

LIN LINDE PLC 0.1%

Value $4.597M Shares 9,684 Share Price $474.65 Est. Cost/Share $322.30 Unrealized @ Report Date +47.3%

SE SEA LTD 0.4%

Value $23.81M Shares 244,505 Share Price $97.36 Est. Cost/Share $83.08 Unrealized @ Report Date +17.2%

BOBS BOBS DISC FURNITURE INC 0.0%

Value $2.495M Shares 180,000 Share Price $13.86 Est. Cost/Share $12.42 Unrealized @ Report Date +11.6%

MAA MID-AMER APT CMNTYS INC 0.0%

Value $1.65M Shares 14,312 Share Price $115.27 Est. Cost/Share $152.49 Unrealized @ Report Date —

TBBB BBB FOODS INC 0.0%

Value $1.499M Shares 28,476 Share Price $52.64 Est. Cost/Share $38.16 Unrealized @ Report Date +37.9%

HNRG HALLADOR ENERGY COMPANY 0.0%

Value $960K Shares 69,239 Share Price $13.87 Est. Cost/Share $7.35 Unrealized @ Report Date +88.6%

HTHT H WORLD GROUP LTD 0.1%

Value $7.085M Shares 165,532 Share Price $42.80 Est. Cost/Share $50.99 Unrealized @ Report Date -16.1%

BAP CREDICORP LTD 0.1%

Value $6.68M Shares 17,585 Share Price $379.87 Est. Cost/Share $152.24 Unrealized @ Report Date +149.5%

— ZIFF DAVIS INC 0.2%

Value $10.11M Shares 10,000,000 Share Price $1.01 Est. Cost/Share $0.93 Unrealized @ Report Date —

AMAT APPLIED MATLS INC 0.0%

Value $371K Shares 725 Share Price $511.38 Est. Cost/Share $342.56 Unrealized @ Report Date +49.3%

FPE FIRST TR EXCH TRADED FD III 0.0%

Value $2.815M Shares 165,116 Share Price $17.05 Est. Cost/Share $16.90 Unrealized @ Report Date +0.9%

ABEV AMBEV SA 0.0%

Value $1.816M Shares 621,824 Share Price $2.92 Est. Cost/Share $2.66 Unrealized @ Report Date +9.7%

LRCX LAM RESEARCH CORP 0.0%

Value $376K Shares 1,146 Share Price $328.51 Est. Cost/Share $230.69 Unrealized @ Report Date +42.4%

EZU ISHARES INC 0.1%

Value $3.085M Shares 45,824 Share Price $67.33 Est. Cost/Share $47.64 Unrealized @ Report Date +41.3%

PAVE GLOBAL X FDS 0.0%

Value $669K Shares 12,744 Share Price $52.50 Est. Cost/Share $31.35 Unrealized @ Report Date +67.5%

HD HOME DEPOT INC 0.0%

Value $317K Shares 1,113 Share Price $284.49 Est. Cost/Share $349.31 Unrealized @ Report Date -18.6%

ESS ESSEX PPTY TR INC 0.0%

Value $811K Shares 3,019 Share Price $268.65 Est. Cost/Share $273.00 Unrealized @ Report Date —

GLD SPDR GOLD TR 0.0%

Value $2.014M Shares 5,273 Share Price $381.95 Est. Cost/Share $302.81 Unrealized @ Report Date +25.8%

XLK SELECT SECTOR SPDR TR 0.0%

Value $2.432M Shares 12,424 Share Price $195.75 Est. Cost/Share $150.71 Unrealized @ Report Date +29.9%

VTV VANGUARD INDEX FDS 0.1%

Value $6.827M Shares 31,595 Share Price $216.08 Est. Cost/Share $200.23 Unrealized @ Report Date +7.9%

PANW PALO ALTO NETWORKS INC 0.0%

Value $274K Shares 690 Share Price $397.31 Est. Cost/Share $228.90 Unrealized @ Report Date +73.6%

TJX TJX COS INC NEW 0.0%

Value $237K Shares 1,788 Share Price $132.31 Est. Cost/Share $158.11 Unrealized @ Report Date -16.3%

MRVL MARVELL TECHNOLOGY INC 0.0%

Value $233K Shares 883 Share Price $264.21 Est. Cost/Share $200.51 Unrealized @ Report Date +31.8%

GS GOLDMAN SACHS GROUP INC 0.0%

Value $208K Shares 231 Share Price $900.36 Est. Cost/Share $974.94 Unrealized @ Report Date -7.7%

MCI BARINGS CORPORATE INVS 0.1%

Value $3.881M Shares 219,664 Share Price $17.67 Est. Cost/Share $18.62 Unrealized @ Report Date —

MA MASTERCARD INCORPORATED 0.0%

Value $334K Shares 606 Share Price $551.47 Est. Cost/Share $477.51 Unrealized @ Report Date +15.5%

DOW DOW HLDGS INC 0.1%

Value $3.349M Shares 121,612 Share Price $27.54 Est. Cost/Share $31.71 Unrealized @ Report Date -13.2%

C CITIGROUP INC 0.0%

Value $237K Shares 1,834 Share Price $129.48 Est. Cost/Share $104.19 Unrealized @ Report Date +24.3%

IEUR ISHARES TR 0.0%

Value $883K Shares 11,982 Share Price $73.70 Est. Cost/Share $55.26 Unrealized @ Report Date +33.4%

ICSH ISHARES TR 0.1%

Value $3.961M Shares 78,600 Share Price $50.40 Est. Cost/Share $50.64 Unrealized @ Report Date -0.5%

INGR INGREDION INC 0.0%

Value $1.026M Shares 10,709 Share Price $95.81 Est. Cost/Share $120.93 Unrealized @ Report Date -20.8%

STX SEAGATE TECHNOLOGY HLDNGS PL 0.0%

Value $242K Shares 262 Share Price $922.34 Est. Cost/Share $762.82 Unrealized @ Report Date +20.9%

VEA VANGUARD TAX-MANAGED FDS 0.0%

Value $1.164M Shares 16,483 Share Price $70.61 Est. Cost/Share $66.00 Unrealized @ Report Date +7.0%

SLQD ISHARES TR 0.0%

Value $514K Shares 10,397 Share Price $49.48 Est. Cost/Share $49.50 Unrealized @ Report Date -0.0%

CURI CURIOSITYSTREAM INC 0.0%

Value $81,276 Shares 27,930 Share Price $2.91 Est. Cost/Share $11.17 Unrealized @ Report Date -74.0%

JPM JPMORGAN CHASE & CO 0.0%

Value $1.732M Shares 5,236 Share Price $330.83 Est. Cost/Share $263.56 Unrealized @ Report Date +25.5%

RTX RTX CORPORATION 0.0%

Value $204K Shares 1,099 Share Price $185.65 Est. Cost/Share $198.43 Unrealized @ Report Date -6.4%

ADI ANALOG DEVICES INC 0.0%

Value $210K Shares 530 Share Price $396.71 Est. Cost/Share $395.80 Unrealized @ Report Date +0.2%

NBIS NEBIUS GROUP N.V. ⚠ 0.0%

Value $0 Shares 90,661 Share Price $0.00 Est. Cost/Share $198.04 Unrealized @ Report Date +19.1%

FLOT ISHARES TR 0.7%

Value $39.82M Shares 780,000 Share Price $51.05 Est. Cost/Share $50.59 Unrealized @ Report Date +0.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ARX	ACCELERANT HOLDINGS	3,128,867	$61.73M	1.1%	$19.73	$23.42	-15.8%	CL A	G00894108
LQD	ISHARES TR	2,720,211	$278M	4.8%	$102.18	$110.16	-7.2%	IBOXX INV CP ETF	464287242
VCSH	VANGUARD SCOTTSDALE FDS	5,108,527	$395M	6.8%	$77.25	$77.19	+0.1%	SHRT TRM CORP BD	92206C409
IGSB	ISHARES TR	6,840,027	$350M	6.0%	$51.23	$51.21	+0.0%	ISHS 1-5YR INVS	464288646
AU	ANGLOGOLD ASHANTI PLC	455,946	$42.73M	0.7%	$93.72	$25.90	+262.7%	COM SHS	G0378L100
CRH	CRH PLC	203,461	$16.85M	0.3%	$82.80	$55.49	+49.2%	ORD	G25508105
CVX	CHEVRON CORPORATION	99,043	$20.23M	0.3%	$204.21	$138.22	+47.7%	COM	166764100
ONC	BEONE MEDICINES LTD	42,815	$15.67M	0.3%	$365.94	$174.06	+110.2%	SPONSORED ADS	07725L102
EOSE	EOS ENERGY ENTERPRISES INC	1,204,430	$3.698M	0.1%	$3.07	$7.72	-60.3%	COM CL A	29415C101
—	UNITI GROUP LLC	23,333,000	$25.78M	0.4%	$1.10	$1.12	—	NOTE 7.500%12/0	91325VAB4
PBR/A	PETROLEO BRASILEIRO S A	478,910	$9.095M	0.2%	$18.99	$12.37	+53.5%	SP ADR NON VTG	71654V101
FN	FABRINET	13,199	$5.6M	0.1%	$424.27	$122.66	+245.9%	SHS	G3323L100
NTR	NUTRIEN LTD	224,856	$15.8M	0.3%	$70.25	$63.81	+10.1%	COM	67077M108
BBDC	BARINGS BDC INC	13,639,681	$118M	2.0%	$8.62	$5.27	+63.4%	COM	06759L103
DAR	DARLING INGREDIENTS INC	182,050	$11.05M	0.2%	$60.71	$37.98	+59.8%	COM	237266101
DYNF	BLACKROCK ETF TRUST	767,392	$53.15M	0.9%	$69.26	$60.07	+15.3%	ISHARES US EQUIT	09290C103
CPT	CAMDEN PPTY TR	57,104	$5.48M	0.1%	$95.96	$112.08	—	SH BEN INT	133131102
—	OMNICELL COM	15,735,000	$15.62M	0.3%	$0.99	$1.08	—	NOTE 1.000%12/0	68213NAF6
CIB	GRUPO CIBEST SA	74,034	$6.874M	0.1%	$92.85	$54.54	+70.2%	SPON ADS	40090E106
DVN	DEVON ENERGY CORP NEW	207,849	$9.569M	0.2%	$46.04	$46.35	-0.7%	COM	25179M103
BLFS	BIOLIFE SOLUTIONS INC	91,316	$3.548M	0.1%	$38.85	$26.33	+47.6%	COM NEW	09062W204
EPAM	EPAM SYS INC	26,486	$2.87M	0.0%	$108.36	$178.28	-39.2%	COM	29414B104
WY	WEYERHAEUSER CO	143,864	$2.741M	0.0%	$19.05	$28.51	—	COM NEW	962166104
KLAC	KLA CORP	4,605	$898K	0.0%	$194.93	$1501.82	-87.0%	COM NEW	482480100
VOO	VANGUARD INDEX FDS	35,299	$24.74M	0.4%	$700.86	$508.30	+37.9%	S&P 500 ETF SHS	922908363
CTVA	CORTEVA INC	67,121	$5.212M	0.1%	$77.65	$54.57	+42.3%	COM	22052L104
CTGO	CONTANGO SILVER & GOLD INC	476,190	$7.99M	0.1%	$16.78	$20.36	-17.6%	COM	21077F100
LIN	LINDE PLC	9,684	$4.597M	0.1%	$474.65	$322.30	+47.3%	SHS	G54950103
SE	SEA LTD	244,505	$23.81M	0.4%	$97.36	$83.08	+17.2%	SPONSORD ADS	81141R100
BOBS	BOBS DISC FURNITURE INC	180,000	$2.495M	0.0%	$13.86	$12.42	+11.6%	COM SHS	09681N106
MAA	MID-AMER APT CMNTYS INC	14,312	$1.65M	0.0%	$115.27	$152.49	—	COM	59522J103
TBBB	BBB FOODS INC	28,476	$1.499M	0.0%	$52.64	$38.16	+37.9%	CL A COM	G0896C103
HNRG	HALLADOR ENERGY COMPANY	69,239	$960K	0.0%	$13.87	$7.35	+88.6%	COM	40609P105
HTHT	H WORLD GROUP LTD	165,532	$7.085M	0.1%	$42.80	$50.99	-16.1%	SPONSORED ADS	44332N106
BAP	CREDICORP LTD	17,585	$6.68M	0.1%	$379.87	$152.24	+149.5%	COM	G2519Y108
—	ZIFF DAVIS INC	10,000,000	$10.11M	0.2%	$1.01	$0.93	—	DEBT 3.625% 3/0	48123VAH5
AMAT	APPLIED MATLS INC	725	$371K	0.0%	$511.38	$342.56	+49.3%	COM	038222105
FPE	FIRST TR EXCH TRADED FD III	165,116	$2.815M	0.0%	$17.05	$16.90	+0.9%	PFD SECS INC ETF	33739E108
ABEV	AMBEV SA	621,824	$1.816M	0.0%	$2.92	$2.66	+9.7%	SPONSORED ADR	02319V103
LRCX	LAM RESEARCH CORP	1,146	$376K	0.0%	$328.51	$230.69	+42.4%	COM NEW	512807306
EZU	ISHARES INC	45,824	$3.085M	0.1%	$67.33	$47.64	+41.3%	MSCI EURZONE ETF	464286608
PAVE	GLOBAL X FDS	12,744	$669K	0.0%	$52.50	$31.35	+67.5%	US INFR DEV ETF	37954Y673
HD	HOME DEPOT INC	1,113	$317K	0.0%	$284.49	$349.31	-18.6%	COM	437076102
ESS	ESSEX PPTY TR INC	3,019	$811K	0.0%	$268.65	$273.00	—	COM	297178105
GLD	SPDR GOLD TR	5,273	$2.014M	0.0%	$381.95	$302.81	+25.8%	GOLD SHS	78463V107
XLK	SELECT SECTOR SPDR TR	12,424	$2.432M	0.0%	$195.75	$150.71	+29.9%	ST STR TECHN ETF	81369Y803
VTV	VANGUARD INDEX FDS	31,595	$6.827M	0.1%	$216.08	$200.23	+7.9%	MRNGSTR VAL ETF	922908744
PANW	PALO ALTO NETWORKS INC	690	$274K	0.0%	$397.31	$228.90	+73.6%	COM	697435105
TJX	TJX COS INC NEW	1,788	$237K	0.0%	$132.31	$158.11	-16.3%	COM	872540109
MRVL	MARVELL TECHNOLOGY INC	883	$233K	0.0%	$264.21	$200.51	+31.8%	COM	573874104
GS	GOLDMAN SACHS GROUP INC	231	$208K	0.0%	$900.36	$974.94	-7.7%	COM	38141G104
MCI	BARINGS CORPORATE INVS	219,664	$3.881M	0.1%	$17.67	$18.62	—	COM	06759X107
MA	MASTERCARD INCORPORATED	606	$334K	0.0%	$551.47	$477.51	+15.5%	CL A	57636Q104
DOW	DOW HLDGS INC	121,612	$3.349M	0.1%	$27.54	$31.71	-13.2%	COM	260557103
C	CITIGROUP INC	1,834	$237K	0.0%	$129.48	$104.19	+24.3%	COM NEW	172967424
IEUR	ISHARES TR	11,982	$883K	0.0%	$73.70	$55.26	+33.4%	CORE MSCI EURO	46434V738
ICSH	ISHARES TR	78,600	$3.961M	0.1%	$50.40	$50.64	-0.5%	ULTRA SHORT DUR	46434V878
INGR	INGREDION INC	10,709	$1.026M	0.0%	$95.81	$120.93	-20.8%	COM	457187102
STX	SEAGATE TECHNOLOGY HLDNGS PL	262	$242K	0.0%	$922.34	$762.82	+20.9%	ORD SHS	G7997R103
VEA	VANGUARD TAX-MANAGED FDS	16,483	$1.164M	0.0%	$70.61	$66.00	+7.0%	VAN FTSE DEV MKT	921943858
SLQD	ISHARES TR	10,397	$514K	0.0%	$49.48	$49.50	-0.0%	0-5YR INVT GR CP	46434V100
CURI	CURIOSITYSTREAM INC	27,930	$81,276	0.0%	$2.91	$11.17	-74.0%	COM CL A	23130Q107
JPM	JPMORGAN CHASE & CO	5,236	$1.732M	0.0%	$330.83	$263.56	+25.5%	COM	46625H100
RTX	RTX CORPORATION	1,099	$204K	0.0%	$185.65	$198.43	-6.4%	COM	75513E101
ADI	ANALOG DEVICES INC	530	$210K	0.0%	$396.71	$395.80	+0.2%	COM	032654105
NBIS	NEBIUS GROUP N.V. ⚠	90,661	$0	0.0%	$0.00	$198.04	+19.1%	SHS CLASS A	N97284108
FLOT	ISHARES TR	780,000	$39.82M	0.7%	$51.05	$50.59	+0.9%	FLTG RATE NT ETF	46429B655