Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MCHI	iShares MSCI China ETF	565,293	$31.7M	17.5%	$56.08	$61.15	—	COM	46429B671
IEUR	iShares Core MSCI Europe ETF	420,756	$19.24M	10.6%	$45.74	$46.82	—	COM	46434V738
EWY	iShares MSCI South Korea ETF	223,522	$12.59M	6.9%	$56.33	$70.41	—	COM	464286772
EWT	iShares MSCI Taiwan ETF	340,111	$12.36M	6.8%	$36.35	$34.06	—	COM	46434G772
JPXN	iShares JPX-Nikkei 400 ETF	183,521	$11.21M	6.2%	$61.11	$62.10	—	COM	464287382
EWZ	iShares MSCI Brazil ETF	205,861	$8.671M	4.8%	$42.12	$38.02	—	COM	464286400
EWC	iShares MSCI Canada ETF	201,124	$5.811M	3.2%	$28.89	$28.46	—	COM	464286509
EWA	iShares MSCI Australia ETF	238,342	$5.302M	2.9%	$22.25	$21.21	—	COM	464286103
—	iShares MSCI Russia ETF	134,573	$5.233M	2.9%	$38.89	$35.18	—	COM	46434G798
SSSXF	SPDR MSCI Europe Energy UCITS ETF (Ireland)	32,320	$4.922M	2.7%	$152.29	$162.42	—	COM	G8T03D194
EZA	iShares MSCI South Africa ETF	99,728	$4.729M	2.6%	$47.42	$62.45	—	COM	464286780
INDA	iShares MSCI India ETF	138,858	$4.659M	2.6%	$33.55	$33.65	—	COM	46429B598
THD	iShares MSCI Thailand ETF	50,230	$4.453M	2.5%	$88.65	$86.03	—	COM	464286624
AIVI	WisdomTree International Dividend ex-Financials Fund	106,990	$4.319M	2.4%	$40.37	$41.15	—	COM	97717W786
SSHXF	SPDR MSCI Europe Health Care UCITS ETF	22,712	$3.655M	2.0%	$160.93	$152.95	—	COM	G8T03D210
ERCTF	SPDR MSCI Europe Consumer Staples UCITS ETF (Ireland)	15,629	$3.479M	1.9%	$222.60	$194.04	—	COM	G8T03D186
EWL	iShares MSCI Switzerland ETF	82,546	$3.11M	1.7%	$37.68	$33.50	—	COM	464286749
EWG	iShares MSCI Germany ETF	95,569	$2.57M	1.4%	$26.89	$26.90	—	COM	464286806
EWW	iShares MSCI Mexico ETF	59,478	$2.54M	1.4%	$42.70	$49.67	—	COM	464286822
—	Xtrackers Japan JPX-Nikkei 400 Equity ETF	85,524	$2.35M	1.3%	$27.48	$26.69	—	COM	233051663
EWJ	iShares MSCI Japan ETF	39,435	$2.236M	1.2%	$56.70	$54.66	—	COM	46434G822
IVLU	iShares Edge MSCI Intl Value Factor ETF	85,827	$1.955M	1.1%	$22.78	$21.85	—	COM	46435G409
EWM	iShares MSCI Malaysia ETF	70,169	$1.952M	1.1%	$27.82	$29.90	—	COM	46434G814
SMIN	iShares MSCI India Small Cap ETF	54,029	$1.898M	1.0%	$35.13	$42.37	—	COM	46429B614
EWP	iShares MSCI Spain ETF	67,648	$1.881M	1.0%	$27.81	$28.37	—	COM	464286764
EIDO	iShares MSCI Indonesia ETF	58,870	$1.44M	0.8%	$24.46	$23.62	—	COM	46429B309
EPOL	iShares MSCI Poland ETF	53,810	$1.109M	0.6%	$20.61	$24.37	—	COM	46429B606
PSCT	Invesco S&P SmallCap Information Technology ETF	11,947	$1.025M	0.6%	$85.80	$82.29	—	COM	46138E115
PSCI	Invesco S&P SmallCap Industrials ETF	13,402	$900K	0.5%	$67.15	$67.67	—	COM	46138E123
IEMG	iShares Core MSCI Emerging Markets ETF	16,185	$793K	0.4%	$49.00	$51.76	—	COM	46434G103
EWI	iShares MSCI Italy ETF	28,395	$782K	0.4%	$27.54	$27.45	—	COM	46434G830
—	Cobham plc	387,827	$748K	0.4%	$1.93	$1.24	—	COM	G41440143
PSCD	Invesco S&P SmallCap Consumer Discretionary ETF	12,298	$740K	0.4%	$60.17	$62.10	—	COM	46138E180
ESLT	Elbit Systems Ltd	4,274	$702K	0.4%	$164.25 *	$112.55	+31.2%	COM	M3760D101
PSCH	Invesco S&P SmallCap Health Care ETF	5,942	$674K	0.4%	$113.43	$128.43	—	COM	46138E149
ECH	iShares MSCI Chile ETF	17,909	$670K	0.4%	$37.41	$52.99	—	COM	464286640
CAE	CAE Inc.	25,553	$647K	0.4%	$25.32 *	$18.71	+39.2%	COM	124765108
BAESF	BAE Systems plc	89,295	$626K	0.3%	$7.01 *	$6.16	-12.5%	COM	G06940103
—	Leonardo SpA	48,654	$571K	0.3%	$11.74	$14.45	—	COM	T63512106
—	Airbus SE	4,305	$558K	0.3%	$129.62	$57.54	—	COM	N0280E105
THLEF	Thales SA	4,701	$541K	0.3%	$115.08	$113.65	+1.7%	COM	F9156M108
—	Dassault Aviation SA	383	$540K	0.3%	$1409.92	$389.47	—	COM	F24539102
SBIO	ALPS Medical Breakthroughs ETF	16,856	$531K	0.3%	$31.50	$35.66	—	COM	00162Q593
TUR	iShares MSCI Turkey ETF	17,446	$466K	0.3%	$26.71	$24.53	—	COM	464286715
KGC	Kinross Gold Corporation	81,070	$371K	0.2%	$4.58	$4.64	0.0%	COM	496902404
NESRF	Northern Star Resources Ltd	47,443	$352K	0.2%	$7.42 *	$6.93	0.0%	COM	Q6951U101
—	Dundee Precious Metals Inc.	103,895	$348K	0.2%	$3.35	$3.35	—	COM	265269209
EWU	iShares MSCI United Kingdom ETF	10,928	$342K	0.2%	$31.30	$32.21	—	COM	46435G334
CAHPF	Evolution Mining Limited	111,491	$340K	0.2%	$3.05 *	$2.77	0.0%	COM	Q3647R147
RGRNF	Regis Resources Limited	103,048	$340K	0.2%	$3.30 *	$3.68	0.0%	COM	Q8059N120
—	Continental Gold Inc	122,318	$339K	0.2%	$2.77	$2.77	—	COM	21146A108
—	Saracen Mineral Holdings Limited	142,416	$330K	0.2%	$2.32	$2.32	—	COM	Q8309T109
—	Detour Gold Corporation	22,378	$328K	0.2%	$14.66	$14.66	—	COM	250669108
NPSNY	Naspers Limited Sponsored ADR Class N	10,831	$323K	0.2%	$29.82	$48.17	—	COM	631512209
—	Leagold Mining Corp	110,260	$212K	0.1%	$1.92	$1.92	—	COM	52176A205
KIE	SPDR S&P Insurance ETF	5,915	$208K	0.1%	$35.16	$28.23	—	COM	78464A789
PSCM	Invesco S&P SmallCap Materials ETF	3,697	$165K	0.1%	$44.63	$52.73	—	COM	46138G201
PROSY	Prosus N.V. Sponsored ADR	10,831	$157K	0.1%	$14.50	$14.50	—	COM	74365P108
PSCU	Invesco S&P SmallCap Utilities & Communication Services ETF	1,792	$94,000	0.1%	$52.46	$51.34	—	COM	46138G409
COLD	Americold Realty Trust	449	$16,000	0.0%	$35.63	$31.18	—	COM	03064D108
—	PS Business Parks, Inc.	91	$16,000	0.0%	$175.82	$164.84	—	COM	69360J107
EOG	EOG Resources, Inc.	222	$16,000	0.0%	$72.07 *	$69.83	-11.9%	COM	26875P101
EGP	EastGroup Properties, Inc.	123	$15,000	0.0%	$121.95	$113.82	—	COM	277276101
NHI	National Health Investors, Inc.	176	$14,000	0.0%	$79.55	$73.86	—	COM	63633D104
NMRK	Newmark Group, Inc. Class A	1,640	$14,000	0.0%	$8.54	$7.69	+11.7%	COM	65158N102
FCPT	Four Corners Property Trust, Inc.	471	$13,000	0.0%	$27.60	$25.48	—	COM	35086T109
RHP	Ryman Hospitality Properties, Inc.	162	$13,000	0.0%	$80.25	$80.25	—	COM	78377T107
KW	Kennedy-Wilson Holdings, Inc.	625	$13,000	0.0%	$20.80 *	$21.28	+0.1%	COM	489398107
—	Pioneer Natural Resources Company	93	$11,000	0.0%	$118.28	$149.02	—	COM	723787107
—	Redfin Corporation	599	$10,000	0.0%	$16.69	$16.69	—	COM	75737F108
—	Concho Resources Inc.	88	$5,000	0.0%	$56.82	$132.45	—	COM	20605P101
JLL	Jones Lang LaSalle Incorporated	43	$5,000	0.0%	$116.28 *	$138.16	0.0%	COM	48020Q107
OXY	Occidental Petroleum Corporation	108	$4,000	0.0%	$37.04 *	$41.72	0.0%	COM	674599105