Fosun International Ltd Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GDX	VANECK ETF TRUST	94,647	$8,686	2.2%	$91.77	—	GOLD MINERS ETF	92189F106
XME	SPDR SERIES TRUST	33,059	$3,571	0.9%	$108.01	—	STATE STREET SPD	78464A755
VRP	INVESCO EXCH TRADED FD TR II	88,582	$2,124	0.5%	$23.98	—	VAR RATE PFD	46138G870
FXI	ISHARES TR	57,108	$2,050	0.5%	$35.90	—	CHINA LG-CAP ETF	464287184
—	JD.COM INC	2,000,000	$1,998	0.5%	$1.00	—	NOTE 0.250% 6/0	47215PAJ5
AIQ	GLOBAL X FDS	41,689	$1,946	0.5%	$46.67	—	ARTIFICIAL ETF	37954Y632
KRE	SPDR SERIES TRUST	27,415	$1,786	0.4%	$65.15	—	STATE STREET SPD	78464A698
NDAQ	NASDAQ INC	20,350	$1,728	0.4%	$91.74	0.0%	COM	631103108
IWM	ISHARES TR	6,183	$1,533	0.4%	$248.00	—	RUSSELL 2000 ETF	464287655
NFLX	NETFLIX INC.	14,526	$1,397	0.4%	$83.84	0.0%	COM	64110L106
FUTU	FUTU HLDGS LTD	10,161	$1,390	0.3%	$136.76	—	SPON ADS CL A	36118L106
QTUM	ETF SER SOLUTIONS	9,116	$978	0.2%	$107.30	—	DEFIANCE QUANTUM	26922A420
XBI	SPDR SERIES TRUST	7,323	$935	0.2%	$127.73	—	STATE STREET SPD	78464A870
BIDU	BAIDU INC	6,991	$779	0.2%	$111.42	—	SPON ADR REP A	056752108
CAT	CATERPILLAR INC	978	$693	0.2%	$684.39	0.0%	COM	149123101
GLW	CORNING INC	5,000	$680	0.2%	$111.68	0.0%	COM	219350105
REMX	VANECK ETF TRUST	7,594	$668	0.2%	$88.00	—	RARE EARTH AND S	92189H805
AMD	ADVANCED MICRO DEVICES INC	3,202	$651	0.2%	$221.70	0.0%	COM	007903107
MS	MORGAN STANLEY	3,377	$556	0.1%	$179.67	0.0%	COM NEW	617446448
INTC	INTEL CORP	11,534	$509	0.1%	$46.43	0.0%	COM	458140100
EWY	ISHARES INC	3,905	$480	0.1%	$123.01	—	MSCI STH KOR ETF	464286772
AZN	ASTRAZENECA PLC	2,427	$479	0.1%	$190.39	0.0%	ORD	G0593M107
ASML	ASML HLDG NV	350	$462	0.1%	$1320.83	—	N Y REGISTRY SHS	N07059210
ROK	ROCKWELL AUTOMATION INC	1,110	$398	0.1%	$410.26	0.0%	COM	773903109
IQV	IQVIA HLDGS INC	2,193	$374	0.1%	$210.16	0.0%	COM	46266C105
BBJP	J P MORGAN EXCHANGE TRADED F	4,870	$336	0.1%	$68.91	—	BETABULDRS JAPAN	46641Q217
CRML	CRITICAL METALS CORP	16,666	$132	0.0%	$13.15	0.0%	PUBCO ORD SHS	G2662B103

Increased Positions (13)

— KKR & CO INC 5.1%

Value ($000) $20,392 (+17.4%) Shares 50,700,000 (+51.3%) Est. Cost $0.48 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.5%

Value ($000) $2,176 (+737.5%) Shares 6,439 (+653.1%) Est. Cost $319.22 Unrealized —

BABA ALIBABA GROUP HLDG LTD 0.5%

Value ($000) $2,102 (+344.0%) Shares 16,754 (+418.7%) Est. Cost $121.62 Unrealized —

MSFT MICROSOFT CORP 0.9%

Value ($000) $3,513 (+83.9%) Shares 9,491 (+140.3%) Est. Cost $349.77 Unrealized +24.3%

AMZN AMAZON COM INC 0.6%

Value ($000) $2,334 (+174.8%) Shares 11,205 (+204.6%) Est. Cost $214.41 Unrealized +5.8%

— ARES MANAGEMENT CORPORATION 3.2%

Value ($000) $12,923 (-8.8%) Shares 35,720,000 (+27.0%) Est. Cost $0.47 Unrealized —

PDD PDD HOLDINGS INC 0.5%

Value ($000) $2,175 (+73.8%) Shares 21,289 (+92.9%) Est. Cost $107.99 Unrealized —

SNPS SYNOPSYS INC 0.4%

Value ($000) $1,450 (+123.7%) Shares 3,657 (+165.0%) Est. Cost $485.80 Unrealized -2.9%

ABBV ABBVIE INC 0.2%

Value ($000) $830 (+79.2%) Shares 3,817 (+88.3%) Est. Cost $204.85 Unrealized +8.7%

ADI ANALOG DEVICES INC 0.2%

Value ($000) $675 (+86.7%) Shares 2,121 (+59.1%) Est. Cost $216.06 Unrealized +46.3%

MSDL MORGAN STANLEY DIRECT LENDIN 0.8%

Value ($000) $3,356 (-8.2%) Shares 240,374 (+8.3%) Est. Cost $16.39 Unrealized -2.2%

WFC WELLS FARGO & CO 0.1%

Value ($000) $503 (+14.8%) Shares 6,316 (+34.4%) Est. Cost $87.50 Unrealized +2.9%

SPGI S&P GLOBAL INC 0.1%

Value ($000) $530 (+2.9%) Shares 1,245 (+26.4%) Est. Cost $394.61 Unrealized +23.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	KKR & CO INC	50,700,000 (+51.3%)	$20,392 (+17.4%)	5.1%	$0.48	—	6.25 CON SER D	48251W500
TSM	TAIWAN SEMICONDUCTOR MANUFAC	6,439 (+653.1%)	$2,176 (+737.5%)	0.5%	$319.22	—	SPONSORED ADS	874039100
BABA	ALIBABA GROUP HLDG LTD	16,754 (+418.7%)	$2,102 (+344.0%)	0.5%	$121.62	—	SPONSORED ADS	01609W102
MSFT	MICROSOFT CORP	9,491 (+140.3%)	$3,513 (+83.9%)	0.9%	$349.77	+24.3%	COM	594918104
AMZN	AMAZON COM INC	11,205 (+204.6%)	$2,334 (+174.8%)	0.6%	$214.41	+5.8%	COM	023135106
—	ARES MANAGEMENT CORPORATION	35,720,000 (+27.0%)	$12,923 (-8.8%)	3.2%	$0.47	—	6.75 SE B PFD	03990B309
PDD	PDD HOLDINGS INC	21,289 (+92.9%)	$2,175 (+73.8%)	0.5%	$107.99	—	SPONSORED ADS	722304102
SNPS	SYNOPSYS INC	3,657 (+165.0%)	$1,450 (+123.7%)	0.4%	$485.80	-2.9%	COM	871607107
ABBV	ABBVIE INC	3,817 (+88.3%)	$830 (+79.2%)	0.2%	$204.85	+8.7%	COM	00287Y109
ADI	ANALOG DEVICES INC	2,121 (+59.1%)	$675 (+86.7%)	0.2%	$216.06	+46.3%	COM	032654105
MSDL	MORGAN STANLEY DIRECT LENDIN	240,374 (+8.3%)	$3,356 (-8.2%)	0.8%	$16.39	-2.2%	COM SHS	61774A103
WFC	WELLS FARGO & CO	6,316 (+34.4%)	$503 (+14.8%)	0.1%	$87.50	+2.9%	COM	949746101
SPGI	S&P GLOBAL INC	1,245 (+26.4%)	$530 (+2.9%)	0.1%	$394.61	+23.0%	COM	78409V104

Exited Positions (15)

SPYM SPDR SERIES TRUST 3.4%

Value ($000) $13,597 Shares 169,500 Est. Cost $80.22 Unrealized —

MCHI ISHARES TR 2.6%

Value ($000) $10,452 Shares 174,000 Est. Cost $60.07 Unrealized —

— NEXTERA ENERGY INC 0.8%

Value ($000) $3,266 Shares 6,700,000 Est. Cost $0.49 Unrealized —

ADBE ADOBE INC 0.4%

Value ($000) $1,631 Shares 4,661 Est. Cost $488.18 Unrealized -40.6%

LOW LOWES COS INC 0.2%

Value ($000) $619 Shares 2,566 Est. Cost $226.75 Unrealized +19.7%

CB CHUBB LIMITED 0.2%

Value ($000) $610 Shares 1,954 Est. Cost $215.63 Unrealized +46.7%

TSEM TOWER SEMICONDUCTOR LTD 0.1%

Value ($000) $587 Shares 5,000 Est. Cost $96.32 Unrealized +33.8%

BDX BECTON DICKINSON & CO 0.1%

Value ($000) $489 Shares 2,520 Est. Cost $229.52 Unrealized -26.9%

SYY SYSCO CORP 0.1%

Value ($000) $459 Shares 6,224 Est. Cost $70.90 Unrealized +16.0%

LIN LINDE PLC 0.1%

Value ($000) $367 Shares 860 Est. Cost $447.07 Unrealized +2.9%

CRM SALESFORCE INC 0.1%

Value ($000) $345 Shares 1,302 Est. Cost $266.04 Unrealized -18.9%

IFF INTERNATIONAL FLAVORS&FRAGRA 0.1%

Value ($000) $293 Shares 4,347 Est. Cost $121.82 Unrealized -39.2%

TMUS T-MOBILE US INC 0.1%

Value ($000) $273 Shares 1,343 Est. Cost $163.58 Unrealized +22.4%

MU MICRON TECHNOLOGY INC 0.1%

Value ($000) $257 Shares 900 Est. Cost $229.35 Unrealized +68.8%

NEE NEXTERA ENERGY INC 0.1%

Value ($000) $221 Shares 2,749 Est. Cost $64.49 Unrealized +35.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPYM	SPDR SERIES TRUST	169,500	$13,597	3.4%	$80.22	—	—	78464A854
MCHI	ISHARES TR	174,000	$10,452	2.6%	$60.07	—	—	46429B671
—	NEXTERA ENERGY INC	6,700,000	$3,266	0.8%	$0.49	—	—	65339F119
ADBE	ADOBE INC	4,661	$1,631	0.4%	$488.18	-40.6%	—	00724F101
LOW	LOWES COS INC	2,566	$619	0.2%	$226.75	+19.7%	—	548661107
CB	CHUBB LIMITED	1,954	$610	0.2%	$215.63	+46.7%	—	H1467J104
TSEM	TOWER SEMICONDUCTOR LTD	5,000	$587	0.1%	$96.32	+33.8%	—	M87915274
BDX	BECTON DICKINSON & CO	2,520	$489	0.1%	$229.52	-26.9%	—	075887109
SYY	SYSCO CORP	6,224	$459	0.1%	$70.90	+16.0%	—	871829107
LIN	LINDE PLC	860	$367	0.1%	$447.07	+2.9%	—	G54950103
CRM	SALESFORCE INC	1,302	$345	0.1%	$266.04	-18.9%	—	79466L302
IFF	INTERNATIONAL FLAVORS&FRAGRA	4,347	$293	0.1%	$121.82	-39.2%	—	459506101
TMUS	T-MOBILE US INC	1,343	$273	0.1%	$163.58	+22.4%	—	872590104
MU	MICRON TECHNOLOGY INC	900	$257	0.1%	$229.35	+68.8%	—	595112103
NEE	NEXTERA ENERGY INC	2,749	$221	0.1%	$64.49	+35.2%	—	65339F101

Decreased Positions (5)

HSAI HESAI GROUP 0.7%

Value ($000) $2,602 (-20.7%) Shares 136,090 (-7.1%) Est. Cost $26.74 Unrealized —

GOOGL ALPHABET INC 0.9%

Value ($000) $3,653 (-14.2%) Shares 12,702 (-6.6%) Est. Cost $135.58 Unrealized +138.4%

NVDA NVIDIA CORPORATION 0.7%

Value ($000) $2,605 (-14.0%) Shares 14,935 (-8.0%) Est. Cost $139.38 Unrealized +33.9%

TTMI TTM TECHNOLOGIES INC 0.1%

Value ($000) $244 (-29.4%) Shares 2,500 (-50.0%) Est. Cost $65.27 Unrealized +43.1%

OXY OCCIDENTAL PETE CORP 0.1%

Value ($000) $400 (+10.7%) Shares 6,158 (-30.0%) Est. Cost $59.68 Unrealized -23.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HSAI	HESAI GROUP	136,090 (-7.1%)	$2,602 (-20.7%)	0.7%	$26.74	—	SPONSORED ADS	428050108
GOOGL	ALPHABET INC	12,702 (-6.6%)	$3,653 (-14.2%)	0.9%	$135.58	+138.4%	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	14,935 (-8.0%)	$2,605 (-14.0%)	0.7%	$139.38	+33.9%	COM	67066G104
TTMI	TTM TECHNOLOGIES INC	2,500 (-50.0%)	$244 (-29.4%)	0.1%	$65.27	+43.1%	COM	87305R109
OXY	OCCIDENTAL PETE CORP	6,158 (-30.0%)	$400 (+10.7%)	0.1%	$59.68	-23.9%	COM	674599105

Unchanged Positions (21)

LANV LANVIN GROUP HOLDINGS LIMITED 34.2%

Value ($000) $136,405 Shares 90,334,215 Est. Cost $9.04 Unrealized -81.9%

BFLY BUTTERFLY NETWORK INC 10.9%

Value ($000) $43,295 Shares 10,716,630 Est. Cost $19.79 Unrealized -80.8%

CHA CHAGEE HLDGS LTD 21.6%

Value ($000) $86,163 Shares 7,408,691 Est. Cost $11.70 Unrealized —

UNH UNITEDHEALTH GROUP INC 0.5%

Value ($000) $1,816 Shares 6,711 Est. Cost $441.14 Unrealized -30.0%

JG AURORA MOBILE LTD 0.7%

Value ($000) $2,832 Shares 405,199 Est. Cost $2.85 Unrealized —

QSI QUANTUM SI INC 0.1%

Value ($000) $576 Shares 743,935 Est. Cost $10.48 Unrealized -89.3%

HYPR HYPERFINE INC 0.5%

Value ($000) $1,881 Shares 1,742,020 Est. Cost $9.78 Unrealized -88.4%

ASHR DBX ETF TR 4.3%

Value ($000) $16,982 Shares 520,270 Est. Cost $26.61 Unrealized —

MRVL MARVELL TECHNOLOGY INC 0.2%

Value ($000) $723 Shares 7,299 Est. Cost $68.03 Unrealized +19.2%

AJG GALLAGHER ARTHUR J & CO 0.1%

Value ($000) $449 Shares 2,075 Est. Cost $174.45 Unrealized +37.8%

V VISA INC 0.1%

Value ($000) $468 Shares 1,550 Est. Cost $191.58 Unrealized +71.8%

TMO THERMO FISHER SCIENTIFIC INC 0.1%

Value ($000) $406 Shares 826 Est. Cost $471.78 Unrealized +21.8%

AVGO BROADCOM INC 0.1%

Value ($000) $471 Shares 1,523 Est. Cost $161.97 Unrealized +106.3%

AON AON PLC 0.1%

Value ($000) $541 Shares 1,677 Est. Cost $361.30 Unrealized -7.0%

DHR DANAHER CORP DEL 0.1%

Value ($000) $228 Shares 1,200 Est. Cost $220.19 Unrealized +2.0%

WM WASTE MGMT INC DEL 0.2%

Value ($000) $861 Shares 3,749 Est. Cost $209.41 Unrealized +8.0%

— GLOBAL PMTS INC 0.4%

Value ($000) $1,763 Shares 2,000,000 Est. Cost $0.90 Unrealized —

IXJ ISHARES TR 0.2%

Value ($000) $604 Shares 6,461 Est. Cost $97.45 Unrealized —

TECK TECK RESOURCES LTD 0.1%

Value ($000) $262 Shares 5,066 Est. Cost $47.62 Unrealized +15.5%

KO COCA COLA CO 0.1%

Value ($000) $229 Shares 3,016 Est. Cost $64.97 Unrealized +15.1%

— DEXCOM INC 0.5%

Value ($000) $1,848 Shares 2,000,000 Est. Cost $0.92 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LANV	LANVIN GROUP HOLDINGS LIMITED	90,334,215	$136,405	34.2%	$9.04	-81.9%	SHS	G5380J100
BFLY	BUTTERFLY NETWORK INC	10,716,630	$43,295	10.9%	$19.79	-80.8%	COM CL A	124155102
CHA	CHAGEE HLDGS LTD	7,408,691	$86,163	21.6%	$11.70	—	SPONSORED ADS	15743P104
UNH	UNITEDHEALTH GROUP INC	6,711	$1,816	0.5%	$441.14	-30.0%	COM	91324P102
JG	AURORA MOBILE LTD	405,199	$2,832	0.7%	$2.85	—	SPON ADS	051857209
QSI	QUANTUM SI INC	743,935	$576	0.1%	$10.48	-89.3%	COM CL A	74765K105
HYPR	HYPERFINE INC	1,742,020	$1,881	0.5%	$9.78	-88.4%	COM CL A	44916K106
ASHR	DBX ETF TR	520,270	$16,982	4.3%	$26.61	—	XTRACK HRVST CSI	233051879
MRVL	MARVELL TECHNOLOGY INC	7,299	$723	0.2%	$68.03	+19.2%	COM	573874104
AJG	GALLAGHER ARTHUR J & CO	2,075	$449	0.1%	$174.45	+37.8%	COM	363576109
V	VISA INC	1,550	$468	0.1%	$191.58	+71.8%	COM CL A	92826C839
TMO	THERMO FISHER SCIENTIFIC INC	826	$406	0.1%	$471.78	+21.8%	COM	883556102
AVGO	BROADCOM INC	1,523	$471	0.1%	$161.97	+106.3%	COM	11135F101
AON	AON PLC	1,677	$541	0.1%	$361.30	-7.0%	SHS CL A	G0403H108
DHR	DANAHER CORP DEL	1,200	$228	0.1%	$220.19	+2.0%	COM	235851102
WM	WASTE MGMT INC DEL	3,749	$861	0.2%	$209.41	+8.0%	COM	94106L109
—	GLOBAL PMTS INC	2,000,000	$1,763	0.4%	$0.90	—	NOTE 1.500% 3/0	37940XAU6
IXJ	ISHARES TR	6,461	$604	0.2%	$97.45	—	GLOB HLTHCRE ETF	464287325
TECK	TECK RESOURCES LTD	5,066	$262	0.1%	$47.62	+15.5%	CL B	878742204
KO	COCA COLA CO	3,016	$229	0.1%	$64.97	+15.1%	COM	191216100
—	DEXCOM INC	2,000,000	$1,848	0.5%	$0.92	—	NOTE 0.375% 5/1	252131AM9