Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EL	LAUDER ESTEE COS INC	44,300	$3.179M	0.3%	$111.88	0.0%	CL A	518439104
LEVI	LEVI STRAUSS & CO NEW	138,000	$2.552M	0.2%	$21.27	0.0%	CL A COM STK	52736R102
CME	CME GROUP INC	8,607	$2.542M	0.2%	$289.33	0.0%	COM	12572Q105
EQR	EQUITY RESIDENTIAL	35,222	$2.083M	0.2%	$62.03	0.0%	SH BEN INT	29476L107
ESS	ESSEX PPTY TR INC	8,483	$2.053M	0.2%	$256.89	0.0%	COM	297178105
PPG	PPG INDS INC	17,502	$1.871M	0.2%	$116.87	0.0%	COM	693506107
TSLA	TESLA INC	4,794	$1.782M	0.2%	$425.98	0.0%	COM	88160R101
MRSH	MARSH & MCLENNAN COS INC	10,157	$1.762M	0.2%	$181.36	0.0%	COM	571748102
YUM	YUM BRANDS INC	11,212	$1.743M	0.2%	$157.36	0.0%	COM	988498101
IEX	IDEX CORP	9,195	$1.743M	0.2%	$199.09	0.0%	COM	45167R104
VZLA	VIZSLA SILVER CORP	427,000	$1.409M	0.1%	$5.13	0.0%	COM NEW	92859G608
SCCO	SOUTHERN COPPER CORP	7,402	$1.274M	0.1%	$187.35	0.0%	COM	84265V105
PH	PARKER-HANNIFIN CORP	1,296	$1.16M	0.1%	$957.81	0.0%	COM	701094104
LULU	LULULEMON ATHLETICA INC	7,500	$1.148M	0.1%	$188.79	0.0%	COM	550021109
WAB	WABTEC	4,401	$1.1M	0.1%	$238.93	0.0%	COM	929740108
RDY	DR REDDYS LABS LTD	75,000	$1.039M	0.1%	$13.85	—	ADR	256135203
HAL	HALLIBURTON CO	21,822	$851K	0.1%	$33.54	0.0%	COM	406216101
ZIM	ZIM INTEGRATED SHIPPING SERV	31,000	$817K	0.1%	$23.44	0.0%	SHS	M9T951109
NOC	NORTHROP GRUMMAN CORP	1,124	$767K	0.1%	$673.66	0.0%	COM	666807102
CCJ	CAMECO CORP	6,777	$733K	0.1%	$116.28	0.0%	COM	13321L108
HOOD	ROBINHOOD MKTS INC	8,482	$588K	0.1%	$95.75	0.0%	COM CL A	770700102
KEYS	KEYSIGHT TECHNOLOGIES INC	1,989	$562K	0.0%	$228.24	0.0%	COM	49338L103
T	AT&T INC	18,370	$533K	0.0%	$25.75	0.0%	COM	00206R102
WEC	WEC ENERGY GROUP INC	4,559	$528K	0.0%	$109.91	0.0%	COM	92939U106
CRS	CARPENTER TECHNOLOGY CORP	1,246	$491K	0.0%	$349.30	0.0%	COM	144285103
FER	FERROVIAL SE	7,644	$488K	0.0%	$69.51	0.0%	ORD SHS	N3168P101
FN	FABRINET	933	$487K	0.0%	$492.64	0.0%	SHS	G3323L100
NI	NISOURCE INC	10,207	$476K	0.0%	$43.99	0.0%	COM	65473P105
MP	MP MATERIALS CORP	9,724	$469K	0.0%	$61.74	0.0%	COM CL A	553368101
EM	SMART SH GLOBAL LTD	407,649	$461K	0.0%	$1.13	—	ADS	83193E102
GTE	GRAN TIERRA ENERGY INC	50,000	$449K	0.0%	$5.31	0.0%	COM	38500T200
SHW	SHERWIN WILLIAMS CO	1,397	$448K	0.0%	$355.33	0.0%	COM	824348106
AMKR	AMKOR TECHNOLOGY INC	9,875	$445K	0.0%	$49.52	0.0%	COM	031652100
ODFL	OLD DOMINION FREIGHT LINE IN	2,229	$436K	0.0%	$183.08	0.0%	COM	679580100
WDAY	WORKDAY INC	3,328	$432K	0.0%	$172.62	0.0%	CL A	98138H101
NTRA	NATERA INC	2,120	$424K	0.0%	$225.87	0.0%	COM	632307104
BX	BLACKSTONE INC	3,569	$410K	0.0%	$140.88	0.0%	COM	09260D107
Q	QNITY ELECTRONICS INC	3,539	$408K	0.0%	$101.21	0.0%	COMMON STOCK	74743L100
ORLY	OREILLY AUTOMOTIVE INC	4,332	$400K	0.0%	$94.98	0.0%	COM	67103H107
MTSI	MACOM TECH SOLUTIONS HLDGS I	1,789	$397K	0.0%	$221.00	0.0%	COM	55405Y100
CM	CANADIAN IMPERIAL BANK OF CO	4,200	$397K	0.0%	$94.58	0.0%	COM	136069101
ALNY	ALNYLAM PHARMACEUTICALS INC	1,198	$396K	0.0%	$353.27	0.0%	COM	02043Q107
CNP	CENTERPOINT ENERGY INC	9,102	$393K	0.0%	$40.01	0.0%	COM	15189T107
ICE	INTERCONTINENTAL EXCHANGE IN	2,394	$377K	0.0%	$164.98	0.0%	COM	45866F104
MDLZ	MONDELEZ INTL INC	6,527	$376K	0.0%	$58.16	0.0%	CL A	609207105
OMC	OMNICOM GROUP INC	4,822	$363K	0.0%	$76.54	0.0%	COM	681919106
DOV	DOVER CORP	1,742	$363K	0.0%	$214.66	0.0%	COM	260003108
MGA	MAGNA INTL INC	6,500	$362K	0.0%	$57.24	0.0%	COM	559222401
WDC	WESTERN DIGITAL CORP	1,334	$361K	0.0%	$251.23	0.0%	COM	958102105
BSBR	BANCO SANTANDER BRASIL S A	60,000	$356K	0.0%	$5.93	—	ADS REP 1 UNIT	05967A107
TEM	TEMPUS AI INC	7,748	$350K	0.0%	$61.24	0.0%	CL A	88023B103
NU	NU HLDGS LTD	24,273	$349K	0.0%	$17.34	0.0%	ORD SHS CL A	G6683N103
ABNB	AIRBNB INC	2,574	$325K	0.0%	$129.40	0.0%	COM CL A	009066101
BNS	BANK NOVA SCOTIA B C	4,100	$283K	0.0%	$74.94	0.0%	COM	064149107
PAAS	PAN AMERN SILVER CORP	4,900	$267K	0.0%	$58.40	0.0%	COM	697900108
GEHC	GE HEALTHCARE TECHNOLOGIES I	3,637	$259K	0.0%	$82.25	0.0%	COMMON STOCK	36266G107
DDL	DINGDONG CAYMAN LTD	100,000	$257K	0.0%	$2.57	—	ADS	25445D101
MMM	3M CO	1,700	$247K	0.0%	$163.96	0.0%	COM	88579Y101
BKR	BAKER HUGHES COMPANY	3,968	$242K	0.0%	$56.08	0.0%	CL A	05722G100
EQX	EQUINOX GOLD CORP	10,000	$145K	0.0%	$15.52	0.0%	COM	29446Y502
TGB	TASEKO MINES LTD	10,000	$64,500	0.0%	$7.51	0.0%	COM	876511106

Increased Positions (61)

COP CONOCOPHILLIPS 0.7%

Value $8.276M (+101.3%) Shares 62,699 (+42.8%) Est. Cost $92.05 Unrealized +11.5%

ZGN ERMENEGILDO ZEGNA N V 1.0%

Value $10.9M (+50.4%) Shares 1,045,742 (+47.9%) Est. Cost $12.10 Unrealized -14.1%

JNJ JOHNSON & JOHNSON 1.2%

Value $14.2M (+22.6%) Shares 58,084 (+3.8%) Est. Cost $141.86 Unrealized +60.6%

KLAC KLA CORP 0.3%

Value $3.64M (+247.5%) Shares 2,472 (+186.8%) Est. Cost $1095.33 Unrealized +33.5%

XP XP INC 0.6%

Value $6.387M (+56.9%) Shares 335,463 (+34.9%) Est. Cost $18.10 Unrealized +6.8%

GEV GE VERNOVA INC 0.2%

Value $2.767M (+457.8%) Shares 3,170 (+317.7%) Est. Cost $705.55 Unrealized +4.4%

CSCO CISCO SYS INC 0.8%

Value $9.65M (+29.4%) Shares 124,373 (+28.4%) Est. Cost $72.00 Unrealized +8.2%

MAR MARRIOTT INTL INC NEW 0.7%

Value $8.52M (+29.2%) Shares 26,050 (+22.5%) Est. Cost $188.68 Unrealized +75.3%

DELL DELL TECHNOLOGIES INC 0.4%

Value $4.929M (+58.8%) Shares 30,029 (+21.8%) Est. Cost $127.36 Unrealized -6.5%

PWR QUANTA SVCS INC 0.2%

Value $2.725M (+180.1%) Shares 4,964 (+115.4%) Est. Cost $454.68 Unrealized +6.9%

CVX CHEVRON CORPORATION 0.2%

Value $2.179M (+404.6%) Shares 10,530 (+271.7%) Est. Cost $165.48 Unrealized +3.9%

RACE FERRARI N V 1.3%

Value $14.82M (+12.5%) Shares 43,775 (+24.4%) Est. Cost $443.39 Unrealized -19.6%

KO COCA COLA CO 0.7%

Value $7.503M (+24.9%) Shares 98,665 (+14.8%) Est. Cost $61.73 Unrealized +21.1%

AU ANGLOGOLD ASHANTI PLC 0.3%

Value $3.231M (+85.8%) Shares 33,670 (+67.5%) Est. Cost $88.03 Unrealized +17.7%

WMT WALMART INC 0.9%

Value $10.4M (+16.3%) Shares 83,710 (+4.3%) Est. Cost $100.83 Unrealized +21.0%

INTC INTEL CORP 0.2%

Value $1.796M (+408.2%) Shares 40,690 (+325.0%) Est. Cost $40.79 Unrealized +13.8%

TJX TJX COS INC NEW 0.2%

Value $1.898M (+302.5%) Shares 11,886 (+287.2%) Est. Cost $148.56 Unrealized +3.8%

SBUX STARBUCKS CORP 0.1%

Value $1.691M (+412.8%) Shares 18,877 (+382.0%) Est. Cost $92.57 Unrealized +1.1%

TER TERADYNE INC 0.2%

Value $2.712M (+94.3%) Shares 9,148 (+26.9%) Est. Cost $191.49 Unrealized +38.8%

MU MICRON TECHNOLOGY INC 0.2%

Value $1.88M (+222.7%) Shares 5,564 (+172.6%) Est. Cost $291.95 Unrealized +32.6%

BA BOEING CO 0.1%

Value $1.655M (+248.6%) Shares 8,317 (+280.3%) Est. Cost $235.11 Unrealized +1.5%

LOW LOWES COS INC 0.1%

Value $1.639M (+252.9%) Shares 6,937 (+260.2%) Est. Cost $263.92 Unrealized +2.9%

ALTI ALTI GLOBAL INC 0.1%

Value $1.267M (+959.2%) Shares 350,000 (+1257.6%) Est. Cost $4.43 Unrealized +0.5%

HWM HOWMET AEROSPACE INC 0.1%

Value $1.302M (+499.2%) Shares 5,650 (+433.0%) Est. Cost $221.36 Unrealized +2.3%

AMX AMERICA MOVIL SAB DE CV 0.3%

Value $3.27M (+48.9%) Shares 128,322 (+20.8%) Est. Cost $21.70 Unrealized —

ETN EATON CORP PLC 0.5%

Value $6.073M (+18.9%) Shares 16,980 (+5.9%) Est. Cost $277.82 Unrealized +27.3%

LLY ELI LILLY & CO 1.8%

Value $20.79M (-4.2%) Shares 22,607 (+11.9%) Est. Cost $741.43 Unrealized +41.2%

AMD ADVANCED MICRO DEVICES INC 0.3%

Value $3.055M (+39.3%) Shares 15,019 (+46.7%) Est. Cost $180.58 Unrealized +22.8%

DE DEERE & CO 0.1%

Value $1.578M (+118.6%) Shares 2,802 (+80.7%) Est. Cost $465.39 Unrealized +18.5%

ANET ARISTA NETWORKS INC 0.1%

Value $1.242M (+183.8%) Shares 10,113 (+202.9%) Est. Cost $133.12 Unrealized +1.4%

VRT VERTIV HOLDINGS CO 0.1%

Value $1.44M (+107.2%) Shares 5,748 (+34.0%) Est. Cost $180.24 Unrealized +10.9%

AEM AGNICO EAGLE MINES LTD 0.1%

Value $1.041M (+240.5%) Shares 5,143 (+185.7%) Est. Cost $181.80 Unrealized +13.3%

PLTR PALANTIR TECHNOLOGIES INC 0.3%

Value $2.938M (+26.4%) Shares 20,084 (+53.6%) Est. Cost $138.33 Unrealized +11.4%

APTV APTIV PLC 0.2%

Value $1.79M (+49.1%) Shares 25,783 (+63.4%) Est. Cost $74.85 Unrealized +8.1%

URTH ISHARES INC 2.3%

Value $26M (+2.1%) Shares 144,437 (+5.2%) Est. Cost $169.91 Unrealized —

NET CLOUDFLARE INC 0.1%

Value $947K (+55.7%) Shares 4,589 (+48.8%) Est. Cost $199.89 Unrealized -8.8%

GOOG ALPHABET INC 0.7%

Value $7.778M (-4.0%) Shares 27,116 (+5.0%) Est. Cost $189.21 Unrealized +71.1%

TMO THERMO FISHER SCIENTIFIC INC 0.2%

Value $2.038M (+18.6%) Shares 4,147 (+39.9%) Est. Cost $474.09 Unrealized +21.2%

CEG CONSTELLATION ENERGY CORP 0.1%

Value $633K (+94.3%) Shares 2,266 (+145.8%) Est. Cost $311.60 Unrealized -3.4%

BHF BRIGHTHOUSE FINL INC 0.1%

Value $1.257M (+29.4%) Shares 21,000 (+40.0%) Est. Cost $60.22 Unrealized +6.1%

BLK BLACKROCK INC 0.1%

Value $687K (+54.2%) Shares 714 (+71.6%) Est. Cost $1022.46 Unrealized +7.3%

PEP PEPSICO INC 0.2%

Value $1.934M (+10.0%) Shares 12,454 (+1.6%) Est. Cost $140.66 Unrealized +10.0%

ENB ENBRIDGE INC 0.0%

Value $535K (+46.8%) Shares 9,900 (+30.3%) Est. Cost $46.69 Unrealized +4.0%

REGN REGENERON PHARMACEUTICALS 0.0%

Value $453K (+52.0%) Shares 586 (+51.8%) Est. Cost $709.56 Unrealized +8.4%

GILD GILEAD SCIENCES INC 0.0%

Value $494K (+34.3%) Shares 3,544 (+18.3%) Est. Cost $116.83 Unrealized +18.4%

PFE PFIZER INC 0.0%

Value $389K (+41.9%) Shares 13,842 (+25.8%) Est. Cost $24.64 Unrealized +6.2%

SOFI SOFI TECHNOLOGIES INC 0.0%

Value $310K (+53.0%) Shares 19,535 (+152.3%) Est. Cost $25.10 Unrealized -7.2%

PANW PALO ALTO NETWORKS INC 0.3%

Value $3.076M (-3.2%) Shares 19,184 (+11.3%) Est. Cost $184.92 Unrealized -6.9%

F FORD MTR CO 0.2%

Value $2.013M (+4.9%) Shares 174,454 (+19.2%) Est. Cost $12.69 Unrealized +8.3%

ABBV ABBVIE INC 0.2%

Value $2.377M (+4.0%) Shares 10,930 (+9.2%) Est. Cost $187.77 Unrealized +18.5%

MLM MARTIN MARIETTA MATLS INC 0.1%

Value $807K (+12.1%) Shares 1,371 (+18.6%) Est. Cost $529.63 Unrealized +24.8%

HD HOME DEPOT INC 0.2%

Value $2.744M (+3.1%) Shares 8,344 (+7.9%) Est. Cost $345.56 Unrealized +9.1%

SNPS SYNOPSYS INC 0.0%

Value $477K (+20.0%) Shares 1,204 (+42.1%) Est. Cost $452.37 Unrealized +4.3%

GRAB GRAB HOLDINGS LIMITED 0.1%

Value $1.592M (-4.4%) Shares 435,022 (+30.4%) Est. Cost $5.08 Unrealized -11.5%

COF CAPITAL ONE FINL CORP 0.0%

Value $306K (-19.2%) Shares 1,677 (+7.3%) Est. Cost $218.17 Unrealized +2.3%

MELI MERCADOLIBRE INC 0.6%

Value $6.885M (-0.6%) Shares 3,982 (+15.8%) Est. Cost $2278.33 Unrealized -9.3%

ALV AUTOLIV INC 0.2%

Value $2.25M (+1.2%) Shares 21,392 (+14.2%) Est. Cost $105.04 Unrealized +18.9%

AON AON PLC 0.0%

Value $475K (+5.4%) Shares 1,472 (+15.2%) Est. Cost $347.43 Unrealized -3.3%

TTWO TAKE-TWO INTERACTIVE SOFTWAR 0.0%

Value $364K (-5.3%) Shares 1,844 (+22.8%) Est. Cost $244.80 Unrealized -8.1%

DKS DICKS SPORTING GOODS INC 0.0%

Value $333K (+6.4%) Shares 1,681 (+6.3%) Est. Cost $216.59 Unrealized -4.0%

EA ELECTRONIC ARTS INC 0.0%

Value $363K (+4.2%) Shares 1,780 (+4.4%) Est. Cost $134.34 Unrealized +50.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
COP	CONOCOPHILLIPS	62,699 (+42.8%)	$8.276M (+101.3%)	0.7%	$92.05	+11.5%	COM	20825C104
ZGN	ERMENEGILDO ZEGNA N V	1,045,742 (+47.9%)	$10.9M (+50.4%)	1.0%	$12.10	-14.1%	ORD SHS	N30577105
JNJ	JOHNSON & JOHNSON	58,084 (+3.8%)	$14.2M (+22.6%)	1.2%	$141.86	+60.6%	COM	478160104
KLAC	KLA CORP	2,472 (+186.8%)	$3.64M (+247.5%)	0.3%	$1095.33	+33.5%	COM NEW	482480100
XP	XP INC	335,463 (+34.9%)	$6.387M (+56.9%)	0.6%	$18.10	+6.8%	CL A	G98239109
GEV	GE VERNOVA INC	3,170 (+317.7%)	$2.767M (+457.8%)	0.2%	$705.55	+4.4%	COM	36828A101
CSCO	CISCO SYS INC	124,373 (+28.4%)	$9.65M (+29.4%)	0.8%	$72.00	+8.2%	COM	17275R102
MAR	MARRIOTT INTL INC NEW	26,050 (+22.5%)	$8.52M (+29.2%)	0.7%	$188.68	+75.3%	CL A	571903202
DELL	DELL TECHNOLOGIES INC	30,029 (+21.8%)	$4.929M (+58.8%)	0.4%	$127.36	-6.5%	CL C	24703L202
PWR	QUANTA SVCS INC	4,964 (+115.4%)	$2.725M (+180.1%)	0.2%	$454.68	+6.9%	COM	74762E102
CVX	CHEVRON CORPORATION	10,530 (+271.7%)	$2.179M (+404.6%)	0.2%	$165.48	+3.9%	COM	166764100
RACE	FERRARI N V	43,775 (+24.4%)	$14.82M (+12.5%)	1.3%	$443.39	-19.6%	COM	N3167Y103
KO	COCA COLA CO	98,665 (+14.8%)	$7.503M (+24.9%)	0.7%	$61.73	+21.1%	COM	191216100
AU	ANGLOGOLD ASHANTI PLC	33,670 (+67.5%)	$3.231M (+85.8%)	0.3%	$88.03	+17.7%	COM SHS	G0378L100
WMT	WALMART INC	83,710 (+4.3%)	$10.4M (+16.3%)	0.9%	$100.83	+21.0%	COM	931142103
INTC	INTEL CORP	40,690 (+325.0%)	$1.796M (+408.2%)	0.2%	$40.79	+13.8%	COM	458140100
TJX	TJX COS INC NEW	11,886 (+287.2%)	$1.898M (+302.5%)	0.2%	$148.56	+3.8%	COM	872540109
SBUX	STARBUCKS CORP	18,877 (+382.0%)	$1.691M (+412.8%)	0.1%	$92.57	+1.1%	COM	855244109
TER	TERADYNE INC	9,148 (+26.9%)	$2.712M (+94.3%)	0.2%	$191.49	+38.8%	COM	880770102
MU	MICRON TECHNOLOGY INC	5,564 (+172.6%)	$1.88M (+222.7%)	0.2%	$291.95	+32.6%	COM	595112103
BA	BOEING CO	8,317 (+280.3%)	$1.655M (+248.6%)	0.1%	$235.11	+1.5%	COM	097023105
LOW	LOWES COS INC	6,937 (+260.2%)	$1.639M (+252.9%)	0.1%	$263.92	+2.9%	COM	548661107
ALTI	ALTI GLOBAL INC	350,000 (+1257.6%)	$1.267M (+959.2%)	0.1%	$4.43	+0.5%	CL A	02157E106
HWM	HOWMET AEROSPACE INC	5,650 (+433.0%)	$1.302M (+499.2%)	0.1%	$221.36	+2.3%	COM	443201108
AMX	AMERICA MOVIL SAB DE CV	128,322 (+20.8%)	$3.27M (+48.9%)	0.3%	$21.70	—	SPON ADS RP CL B	02390A101
ETN	EATON CORP PLC	16,980 (+5.9%)	$6.073M (+18.9%)	0.5%	$277.82	+27.3%	SHS	G29183103
LLY	ELI LILLY & CO	22,607 (+11.9%)	$20.79M (-4.2%)	1.8%	$741.43	+41.2%	COM	532457108
AMD	ADVANCED MICRO DEVICES INC	15,019 (+46.7%)	$3.055M (+39.3%)	0.3%	$180.58	+22.8%	COM	007903107
DE	DEERE & CO	2,802 (+80.7%)	$1.578M (+118.6%)	0.1%	$465.39	+18.5%	COM	244199105
ANET	ARISTA NETWORKS INC	10,113 (+202.9%)	$1.242M (+183.8%)	0.1%	$133.12	+1.4%	COM SHS	040413205
VRT	VERTIV HOLDINGS CO	5,748 (+34.0%)	$1.44M (+107.2%)	0.1%	$180.24	+10.9%	COM CL A	92537N108
AEM	AGNICO EAGLE MINES LTD	5,143 (+185.7%)	$1.041M (+240.5%)	0.1%	$181.80	+13.3%	COM	008474108
PLTR	PALANTIR TECHNOLOGIES INC	20,084 (+53.6%)	$2.938M (+26.4%)	0.3%	$138.33	+11.4%	CL A	69608A108
APTV	APTIV PLC	25,783 (+63.4%)	$1.79M (+49.1%)	0.2%	$74.85	+8.1%	COM SHS	G3265R107
URTH	ISHARES INC	144,437 (+5.2%)	$26M (+2.1%)	2.3%	$169.91	—	MSCI WORLD ETF	464286392
NET	CLOUDFLARE INC	4,589 (+48.8%)	$947K (+55.7%)	0.1%	$199.89	-8.8%	CL A COM	18915M107
GOOG	ALPHABET INC	27,116 (+5.0%)	$7.778M (-4.0%)	0.7%	$189.21	+71.1%	CAP STK CL C	02079K107
TMO	THERMO FISHER SCIENTIFIC INC	4,147 (+39.9%)	$2.038M (+18.6%)	0.2%	$474.09	+21.2%	COM	883556102
CEG	CONSTELLATION ENERGY CORP	2,266 (+145.8%)	$633K (+94.3%)	0.1%	$311.60	-3.4%	COM	21037T109
BHF	BRIGHTHOUSE FINL INC	21,000 (+40.0%)	$1.257M (+29.4%)	0.1%	$60.22	+6.1%	COM	10922N103
BLK	BLACKROCK INC	714 (+71.6%)	$687K (+54.2%)	0.1%	$1022.46	+7.3%	COM	09290D101
PEP	PEPSICO INC	12,454 (+1.6%)	$1.934M (+10.0%)	0.2%	$140.66	+10.0%	COM	713448108
ENB	ENBRIDGE INC	9,900 (+30.3%)	$535K (+46.8%)	0.0%	$46.69	+4.0%	COM	29250N105
REGN	REGENERON PHARMACEUTICALS	586 (+51.8%)	$453K (+52.0%)	0.0%	$709.56	+8.4%	COM	75886F107
GILD	GILEAD SCIENCES INC	3,544 (+18.3%)	$494K (+34.3%)	0.0%	$116.83	+18.4%	COM	375558103
PFE	PFIZER INC	13,842 (+25.8%)	$389K (+41.9%)	0.0%	$24.64	+6.2%	COM	717081103
SOFI	SOFI TECHNOLOGIES INC	19,535 (+152.3%)	$310K (+53.0%)	0.0%	$25.10	-7.2%	COM	83406F102
PANW	PALO ALTO NETWORKS INC	19,184 (+11.3%)	$3.076M (-3.2%)	0.3%	$184.92	-6.9%	COM	697435105
F	FORD MTR CO	174,454 (+19.2%)	$2.013M (+4.9%)	0.2%	$12.69	+8.3%	COM	345370860
ABBV	ABBVIE INC	10,930 (+9.2%)	$2.377M (+4.0%)	0.2%	$187.77	+18.5%	COM	00287Y109
MLM	MARTIN MARIETTA MATLS INC	1,371 (+18.6%)	$807K (+12.1%)	0.1%	$529.63	+24.8%	COM	573284106
HD	HOME DEPOT INC	8,344 (+7.9%)	$2.744M (+3.1%)	0.2%	$345.56	+9.1%	COM	437076102
SNPS	SYNOPSYS INC	1,204 (+42.1%)	$477K (+20.0%)	0.0%	$452.37	+4.3%	COM	871607107
GRAB	GRAB HOLDINGS LIMITED	435,022 (+30.4%)	$1.592M (-4.4%)	0.1%	$5.08	-11.5%	CLASS A ORD	G4124C109
COF	CAPITAL ONE FINL CORP	1,677 (+7.3%)	$306K (-19.2%)	0.0%	$218.17	+2.3%	COM	14040H105
MELI	MERCADOLIBRE INC	3,982 (+15.8%)	$6.885M (-0.6%)	0.6%	$2278.33	-9.3%	COM	58733R102
ALV	AUTOLIV INC	21,392 (+14.2%)	$2.25M (+1.2%)	0.2%	$105.04	+18.9%	COM	052800109
AON	AON PLC	1,472 (+15.2%)	$475K (+5.4%)	0.0%	$347.43	-3.3%	SHS CL A	G0403H108
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	1,844 (+22.8%)	$364K (-5.3%)	0.0%	$244.80	-8.1%	COM	874054109
DKS	DICKS SPORTING GOODS INC	1,681 (+6.3%)	$333K (+6.4%)	0.0%	$216.59	-4.0%	COM	253393102
EA	ELECTRONIC ARTS INC	1,780 (+4.4%)	$363K (+4.2%)	0.0%	$134.34	+50.8%	COM	285512109

Exited Positions (73)

WYNN WYNN RESORTS LTD 0.6%

Value $6.447M Shares 53,580 Est. Cost $115.99 Unrealized -1.6%

UPS UNITED PARCEL SERVICE INC 0.4%

Value $4.517M Shares 45,538 Est. Cost $136.20 Unrealized -19.3%

NKE NIKE INC 0.4%

Value $4.187M Shares 65,722 Est. Cost $83.09 Unrealized -23.0%

ELV ELEVANCE HEALTH INC FORMERLY 0.4%

Value $4.169M Shares 11,893 Est. Cost $314.10 Unrealized +11.9%

AZN ASTRAZENECA PLC 0.3%

Value $3.934M Shares 42,793 Est. Cost $91.93 Unrealized —

AVB AVALONBAY CMNTYS INC 0.3%

Value $3.395M Shares 18,726 Est. Cost $179.77 Unrealized +0.4%

FOX FOX CORP 0.3%

Value $3.149M Shares 48,500 Est. Cost $54.11 Unrealized +12.3%

RNG RINGCENTRAL INC 0.2%

Value $2.599M Shares 90,000 Est. Cost $29.13 Unrealized -1.4%

ONON ON HLDG AG 0.2%

Value $2.598M Shares 55,900 Est. Cost $30.56 Unrealized +51.6%

ATAT ATOUR LIFESTYLE HLDGS LTD 0.2%

Value $2.364M Shares 60,000 Est. Cost $28.83 Unrealized —

MSI MOTOROLA SOLUTIONS INC 0.2%

Value $2.316M Shares 6,043 Est. Cost $386.48 Unrealized +7.6%

BRO BROWN & BROWN INC 0.2%

Value $2.081M Shares 26,110 Est. Cost $98.97 Unrealized -25.0%

CHD CHURCH & DWIGHT CO INC 0.2%

Value $2.021M Shares 24,100 Est. Cost $99.10 Unrealized -4.3%

RF REGIONS FINANCIAL CORP NEW 0.2%

Value $1.853M Shares 68,388 Est. Cost $25.53 Unrealized +13.5%

DOW DOW INC 0.2%

Value $1.811M Shares 77,474 Est. Cost $22.78 Unrealized +27.5%

AWK AMERICAN WTR WKS CO INC NEW 0.2%

Value $1.755M Shares 13,450 Est. Cost $133.18 Unrealized -3.3%

WELL WELLTOWER INC 0.1%

Value $1.648M Shares 8,879 Est. Cost $181.47 Unrealized +3.0%

RSG REPUBLIC SVCS INC 0.1%

Value $1.568M Shares 7,400 Est. Cost $146.37 Unrealized +48.0%

IYF ISHARES TR 0.1%

Value $1.506M Shares 11,680 Est. Cost $128.90 Unrealized —

CTVA CORTEVA INC 0.1%

Value $1.227M Shares 18,309 Est. Cost $46.90 Unrealized +55.2%

SYY SYSCO CORP 0.1%

Value $1.187M Shares 16,108 Est. Cost $63.31 Unrealized +29.9%

COTY COTY INC 0.1%

Value $1.093M Shares 355,000 Est. Cost $4.76 Unrealized -37.6%

SSTK SHUTTERSTOCK INC 0.1%

Value $1.089M Shares 57,000 Est. Cost $17.59 Unrealized +3.4%

WIT WIPRO LTD 0.1%

Value $1.079M Shares 380,000 Est. Cost $2.84 Unrealized —

DT DYNATRACE INC 0.1%

Value $1.061M Shares 24,492 Est. Cost $54.70 Unrealized -29.8%

ZTS ZOETIS INC 0.1%

Value $1.057M Shares 8,402 Est. Cost $156.23 Unrealized -19.4%

PTC PTC INC 0.1%

Value $1.033M Shares 5,927 Est. Cost $118.36 Unrealized +36.0%

TW TRADEWEB MKTS INC 0.1%

Value $1.017M Shares 9,454 Est. Cost $128.16 Unrealized -14.7%

WAT WATERS CORP 0.1%

Value $999K Shares 2,629 Est. Cost $387.18 Unrealized -5.2%

TME TENCENT MUSIC ENTMT GROUP 0.1%

Value $947K Shares 54,000 Est. Cost $19.49 Unrealized —

FICO FAIR ISAAC CORP 0.1%

Value $888K Shares 525 Est. Cost $1397.72 Unrealized +5.0%

LYV LIVE NATION ENTERTAINMENT IN 0.1%

Value $885K Shares 6,209 Est. Cost $102.61 Unrealized +44.5%

AMWD AMERICAN WOODMARK CORPORATIO 0.1%

Value $862K Shares 16,000 Est. Cost $58.56 Unrealized +2.4%

STAA STAAR SURGICAL CO 0.1%

Value $827K Shares 35,800 Est. Cost $25.77 Unrealized -24.5%

DAR DARLING INGREDIENTS INC 0.1%

Value $808K Shares 22,431 Est. Cost $52.23 Unrealized -13.4%

GRMN GARMIN LTD 0.1%

Value $717K Shares 3,535 Est. Cost $196.09 Unrealized +9.4%

EME EMCOR GROUP INC 0.1%

Value $707K Shares 1,156 Est. Cost $647.50 Unrealized +12.2%

BIOX BIOCERES CROP SOLUTIONS CORP 0.1%

Value $655K Shares 500,000 Est. Cost $1.60 Unrealized -41.6%

CF CF INDS HLDGS INC 0.1%

Value $619K Shares 8,010 Est. Cost $49.34 Unrealized +82.6%

RPD RAPID7 INC 0.1%

Value $608K Shares 40,000 Est. Cost $21.12 Unrealized -48.2%

TOST TOAST INC 0.1%

Value $573K Shares 16,131 Est. Cost $43.41 Unrealized -28.6%

— TRUECAR INC 0.0%

Value $554K Shares 245,000 Est. Cost $2.26 Unrealized —

NWSA NEWS CORP NEW 0.0%

Value $522K Shares 20,000 Est. Cost $26.23 Unrealized -4.1%

FTV FORTIVE CORP 0.0%

Value $498K Shares 9,021 Est. Cost $51.86 Unrealized +8.3%

LEG LEGGETT & PLATT INC 0.0%

Value $462K Shares 42,000 Est. Cost $9.84 Unrealized +22.5%

APO APOLLO GLOBAL MGMT INC 0.0%

Value $454K Shares 3,136 Est. Cost $132.57 Unrealized +0.6%

AMGN AMGEN INC 0.0%

Value $428K Shares 1,307 Est. Cost $288.79 Unrealized +21.1%

MCD MCDONALDS CORP 0.0%

Value $425K Shares 1,392 Est. Cost $301.40 Unrealized +5.3%

ACN ACCENTURE PLC IRELAND 0.0%

Value $413K Shares 1,541 Est. Cost $320.08 Unrealized -20.9%

HON HONEYWELL INTL INC 0.0%

Value $398K Shares 2,039 Est. Cost $169.84 Unrealized +33.0%

CTAS CINTAS CORP 0.0%

Value $387K Shares 2,060 Est. Cost $188.13 Unrealized +2.8%

BMA BANCO MACRO SA 0.0%

Value $387K Shares 4,292 Est. Cost $51.17 Unrealized —

BN BROOKFIELD CORP 0.0%

Value $384K Shares 8,350 Est. Cost $44.50 Unrealized +4.9%

FUBO FUBOTV INC 0.0%

Value $378K Shares 150,000 Est. Cost $3.78 Unrealized -47.2%

EIS ISHARES INC 0.0%

Value $368K Shares 3,350 Est. Cost $109.89 Unrealized —

CMG CHIPOTLE MEXICAN GRILL INC 0.0%

Value $348K Shares 9,418 Est. Cost $36.17 Unrealized +7.2%

ROST ROSS STORES INC 0.0%

Value $338K Shares 1,874 Est. Cost $166.60 Unrealized +15.5%

LPLA LPL FINL HLDGS INC 0.0%

Value $335K Shares 937 Est. Cost $353.69 Unrealized +0.9%

SSP SCRIPPS E W CO OHIO 0.0%

Value $319K Shares 80,000 Est. Cost $2.82 Unrealized +26.8%

WMB WILLIAMS COS INC 0.0%

Value $310K Shares 5,165 Est. Cost $57.98 Unrealized +14.4%

EXPE EXPEDIA GROUP INC 0.0%

Value $297K Shares 1,048 Est. Cost $246.88 Unrealized +2.7%

URI UNITED RENTALS INC 0.0%

Value $293K Shares 362 Est. Cost $888.48 Unrealized -0.6%

PAGS PAGSEGURO DIGITAL LTD 0.0%

Value $289K Shares 30,000 Est. Cost $9.00 Unrealized +19.2%

B BARRICK MNG CORP 0.0%

Value $288K Shares 6,600 Est. Cost $37.42 Unrealized +29.1%

TRP TC ENERGY CORP 0.0%

Value $287K Shares 5,200 Est. Cost $53.35 Unrealized +9.1%

MRVL MARVELL TECHNOLOGY INC 0.0%

Value $265K Shares 3,116 Est. Cost $87.46 Unrealized -7.3%

OXY OCCIDENTAL PETE CORP 0.0%

Value $259K Shares 6,302 Est. Cost $41.55 Unrealized +9.4%

AXON AXON ENTERPRISE INC 0.0%

Value $248K Shares 436 Est. Cost $620.52 Unrealized -15.1%

HCA HCA HEALTHCARE INC 0.0%

Value $243K Shares 521 Est. Cost $463.73 Unrealized +7.4%

RIO RIO TINTO PLC 0.0%

Value $240K Shares 3,000 Est. Cost $80.03 Unrealized —

CAH CARDINAL HEALTH INC 0.0%

Value $238K Shares 1,159 Est. Cost $187.72 Unrealized +14.7%

VLO VALERO ENERGY CORP 0.0%

Value $213K Shares 1,310 Est. Cost $168.83 Unrealized +12.6%

BATL BATTALION OIL CORP 0.0%

Value $90,400 Shares 80,000 Est. Cost $1.43 Unrealized +78.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WYNN	WYNN RESORTS LTD	53,580	$6.447M	0.6%	$115.99	-1.6%	—	983134107
UPS	UNITED PARCEL SERVICE INC	45,538	$4.517M	0.4%	$136.20	-19.3%	—	911312106
NKE	NIKE INC	65,722	$4.187M	0.4%	$83.09	-23.0%	—	654106103
ELV	ELEVANCE HEALTH INC FORMERLY	11,893	$4.169M	0.4%	$314.10	+11.9%	—	036752103
AZN	ASTRAZENECA PLC	42,793	$3.934M	0.3%	$91.93	—	—	046353108
AVB	AVALONBAY CMNTYS INC	18,726	$3.395M	0.3%	$179.77	+0.4%	—	053484101
FOX	FOX CORP	48,500	$3.149M	0.3%	$54.11	+12.3%	—	35137L204
RNG	RINGCENTRAL INC	90,000	$2.599M	0.2%	$29.13	-1.4%	—	76680R206
ONON	ON HLDG AG	55,900	$2.598M	0.2%	$30.56	+51.6%	—	H5919C104
ATAT	ATOUR LIFESTYLE HLDGS LTD	60,000	$2.364M	0.2%	$28.83	—	—	04965M106
MSI	MOTOROLA SOLUTIONS INC	6,043	$2.316M	0.2%	$386.48	+7.6%	—	620076307
BRO	BROWN & BROWN INC	26,110	$2.081M	0.2%	$98.97	-25.0%	—	115236101
CHD	CHURCH & DWIGHT CO INC	24,100	$2.021M	0.2%	$99.10	-4.3%	—	171340102
RF	REGIONS FINANCIAL CORP NEW	68,388	$1.853M	0.2%	$25.53	+13.5%	—	7591EP100
DOW	DOW INC	77,474	$1.811M	0.2%	$22.78	+27.5%	—	260557103
AWK	AMERICAN WTR WKS CO INC NEW	13,450	$1.755M	0.2%	$133.18	-3.3%	—	030420103
WELL	WELLTOWER INC	8,879	$1.648M	0.1%	$181.47	+3.0%	—	95040Q104
RSG	REPUBLIC SVCS INC	7,400	$1.568M	0.1%	$146.37	+48.0%	—	760759100
IYF	ISHARES TR	11,680	$1.506M	0.1%	$128.90	—	—	464287788
CTVA	CORTEVA INC	18,309	$1.227M	0.1%	$46.90	+55.2%	—	22052L104
SYY	SYSCO CORP	16,108	$1.187M	0.1%	$63.31	+29.9%	—	871829107
COTY	COTY INC	355,000	$1.093M	0.1%	$4.76	-37.6%	—	222070203
SSTK	SHUTTERSTOCK INC	57,000	$1.089M	0.1%	$17.59	+3.4%	—	825690100
WIT	WIPRO LTD	380,000	$1.079M	0.1%	$2.84	—	—	97651M109
DT	DYNATRACE INC	24,492	$1.061M	0.1%	$54.70	-29.8%	—	268150109
ZTS	ZOETIS INC	8,402	$1.057M	0.1%	$156.23	-19.4%	—	98978V103
PTC	PTC INC	5,927	$1.033M	0.1%	$118.36	+36.0%	—	69370C100
TW	TRADEWEB MKTS INC	9,454	$1.017M	0.1%	$128.16	-14.7%	—	892672106
WAT	WATERS CORP	2,629	$999K	0.1%	$387.18	-5.2%	—	941848103
TME	TENCENT MUSIC ENTMT GROUP	54,000	$947K	0.1%	$19.49	—	—	88034P109
FICO	FAIR ISAAC CORP	525	$888K	0.1%	$1397.72	+5.0%	—	303250104
LYV	LIVE NATION ENTERTAINMENT IN	6,209	$885K	0.1%	$102.61	+44.5%	—	538034109
AMWD	AMERICAN WOODMARK CORPORATIO	16,000	$862K	0.1%	$58.56	+2.4%	—	030506109
STAA	STAAR SURGICAL CO	35,800	$827K	0.1%	$25.77	-24.5%	—	852312305
DAR	DARLING INGREDIENTS INC	22,431	$808K	0.1%	$52.23	-13.4%	—	237266101
GRMN	GARMIN LTD	3,535	$717K	0.1%	$196.09	+9.4%	—	H2906T109
EME	EMCOR GROUP INC	1,156	$707K	0.1%	$647.50	+12.2%	—	29084Q100
BIOX	BIOCERES CROP SOLUTIONS CORP	500,000	$655K	0.1%	$1.60	-41.6%	—	G1117K114
CF	CF INDS HLDGS INC	8,010	$619K	0.1%	$49.34	+82.6%	—	125269100
RPD	RAPID7 INC	40,000	$608K	0.1%	$21.12	-48.2%	—	753422104
TOST	TOAST INC	16,131	$573K	0.1%	$43.41	-28.6%	—	888787108
—	TRUECAR INC	245,000	$554K	0.0%	$2.26	—	—	89785L107
NWSA	NEWS CORP NEW	20,000	$522K	0.0%	$26.23	-4.1%	—	65249B109
FTV	FORTIVE CORP	9,021	$498K	0.0%	$51.86	+8.3%	—	34959J108
LEG	LEGGETT & PLATT INC	42,000	$462K	0.0%	$9.84	+22.5%	—	524660107
APO	APOLLO GLOBAL MGMT INC	3,136	$454K	0.0%	$132.57	+0.6%	—	03769M106
AMGN	AMGEN INC	1,307	$428K	0.0%	$288.79	+21.1%	—	031162100
MCD	MCDONALDS CORP	1,392	$425K	0.0%	$301.40	+5.3%	—	580135101
ACN	ACCENTURE PLC IRELAND	1,541	$413K	0.0%	$320.08	-20.9%	—	G1151C101
HON	HONEYWELL INTL INC	2,039	$398K	0.0%	$169.84	+33.0%	—	438516106
CTAS	CINTAS CORP	2,060	$387K	0.0%	$188.13	+2.8%	—	172908105
BMA	BANCO MACRO SA	4,292	$387K	0.0%	$51.17	—	—	05961W105
BN	BROOKFIELD CORP	8,350	$384K	0.0%	$44.50	+4.9%	—	11271J107
FUBO	FUBOTV INC	150,000	$378K	0.0%	$3.78	-47.2%	—	35953D104
EIS	ISHARES INC	3,350	$368K	0.0%	$109.89	—	—	464286632
CMG	CHIPOTLE MEXICAN GRILL INC	9,418	$348K	0.0%	$36.17	+7.2%	—	169656105
ROST	ROSS STORES INC	1,874	$338K	0.0%	$166.60	+15.5%	—	778296103
LPLA	LPL FINL HLDGS INC	937	$335K	0.0%	$353.69	+0.9%	—	50212V100
SSP	SCRIPPS E W CO OHIO	80,000	$319K	0.0%	$2.82	+26.8%	—	811054402
WMB	WILLIAMS COS INC	5,165	$310K	0.0%	$57.98	+14.4%	—	969457100
EXPE	EXPEDIA GROUP INC	1,048	$297K	0.0%	$246.88	+2.7%	—	30212P303
URI	UNITED RENTALS INC	362	$293K	0.0%	$888.48	-0.6%	—	911363109
PAGS	PAGSEGURO DIGITAL LTD	30,000	$289K	0.0%	$9.00	+19.2%	—	G68707101
B	BARRICK MNG CORP	6,600	$288K	0.0%	$37.42	+29.1%	—	06849F108
TRP	TC ENERGY CORP	5,200	$287K	0.0%	$53.35	+9.1%	—	87807B107
MRVL	MARVELL TECHNOLOGY INC	3,116	$265K	0.0%	$87.46	-7.3%	—	573874104
OXY	OCCIDENTAL PETE CORP	6,302	$259K	0.0%	$41.55	+9.4%	—	674599105
AXON	AXON ENTERPRISE INC	436	$248K	0.0%	$620.52	-15.1%	—	05464C101
HCA	HCA HEALTHCARE INC	521	$243K	0.0%	$463.73	+7.4%	—	40412C101
RIO	RIO TINTO PLC	3,000	$240K	0.0%	$80.03	—	—	767204100
CAH	CARDINAL HEALTH INC	1,159	$238K	0.0%	$187.72	+14.7%	—	14149Y108
VLO	VALERO ENERGY CORP	1,310	$213K	0.0%	$168.83	+12.6%	—	91913Y100
BATL	BATTALION OIL CORP	80,000	$90,400	0.0%	$1.43	+78.0%	—	07134L107

Decreased Positions (144)

MSFT MICROSOFT CORP 4.4%

Value $50.58M (-38.4%) Shares 136,639 (-19.6%) Est. Cost $202.18 Unrealized +115.0%

GOOGL ALPHABET INC 4.4%

Value $50.19M (-37.0%) Shares 174,544 (-31.5%) Est. Cost $113.34 Unrealized +185.2%

UBS UBS GROUP AG 2.4%

Value $26.88M (-43.5%) Shares 702,763 (-31.1%) Est. Cost $32.42 Unrealized +40.5%

META META PLATFORMS INC 2.5%

Value $28.03M (-36.8%) Shares 48,999 (-27.1%) Est. Cost $322.52 Unrealized +103.3%

AAPL APPLE INC 4.2%

Value $47.69M (-23.4%) Shares 187,909 (-17.9%) Est. Cost $179.89 Unrealized +46.1%

BKNG BOOKING HOLDINGS INC 0.0%

Value $379K (-97.3%) Shares 90 (-96.6%) Est. Cost $2570.79 Unrealized +86.0%

NVDA NVIDIA CORPORATION 5.6%

Value $64.23M (-16.4%) Shares 368,292 (-10.6%) Est. Cost $105.20 Unrealized +77.4%

V VISA INC 1.8%

Value $20.67M (-34.6%) Shares 68,397 (-24.1%) Est. Cost $219.51 Unrealized +50.0%

ORCL ORACLE CORP 0.4%

Value $4.319M (-68.0%) Shares 29,361 (-57.7%) Est. Cost $87.37 Unrealized +94.1%

IBM INTERNATIONAL BUSINESS MACHS 0.6%

Value $6.842M (-54.7%) Shares 28,228 (-44.7%) Est. Cost $258.99 Unrealized +9.6%

ALC ALCON AG 0.8%

Value $8.594M (-44.9%) Shares 116,538 (-40.4%) Est. Cost $89.55 Unrealized -10.1%

INTU INTUIT 0.1%

Value $1.55M (-81.9%) Shares 3,584 (-72.2%) Est. Cost $626.67 Unrealized -20.6%

VOO VANGUARD INDEX FDS 0.6%

Value $7.171M (-48.6%) Shares 12,000 (-46.1%) Est. Cost $294.70 Unrealized —

CRH CRH PLC 0.9%

Value $10.66M (-38.8%) Shares 103,783 (-25.4%) Est. Cost $91.00 Unrealized +36.6%

AMZN AMAZON COM INC 3.3%

Value $38.02M (-14.9%) Shares 182,545 (-5.7%) Est. Cost $175.91 Unrealized +28.9%

MA MASTERCARD INCORPORATED 0.8%

Value $9.39M (-41.3%) Shares 18,792 (-32.9%) Est. Cost $380.61 Unrealized +41.6%

NOW SERVICENOW INC 0.0%

Value $508K (-92.8%) Shares 4,859 (-89.5%) Est. Cost $157.14 Unrealized -22.9%

NFLX NETFLIX INC. 0.6%

Value $7.393M (-46.6%) Shares 76,894 (-47.9%) Est. Cost $97.53 Unrealized -14.0%

DIS DISNEY WALT CO 0.5%

Value $5.895M (-50.3%) Shares 61,165 (-41.3%) Est. Cost $95.67 Unrealized +14.4%

JPM JPMORGAN CHASE & CO 1.1%

Value $11.96M (-33.1%) Shares 40,667 (-26.7%) Est. Cost $121.84 Unrealized +155.6%

WFC WELLS FARGO & CO 0.6%

Value $7.361M (-43.9%) Shares 92,467 (-34.3%) Est. Cost $80.14 Unrealized +12.3%

MKL MARKEL GROUP INC 0.6%

Value $6.324M (-47.3%) Shares 3,304 (-40.9%) Est. Cost $1101.00 Unrealized +88.7%

EFIV SPDR SERIES TRUST 0.4%

Value $4.779M (-52.3%) Shares 75,715 (-50.0%) Est. Cost $66.14 Unrealized —

AMRZ AMRIZE LTD 1.1%

Value $12.43M (-28.9%) Shares 229,309 (-27.9%) Est. Cost $51.00 Unrealized +12.0%

ADBE ADOBE INC 0.2%

Value $1.936M (-72.2%) Shares 7,964 (-60.0%) Est. Cost $452.04 Unrealized -35.9%

INFY INFOSYS LTD 0.1%

Value $743K (-86.8%) Shares 55,000 (-82.5%) Est. Cost $15.57 Unrealized —

PG PROCTER & GAMBLE CO 1.0%

Value $11.21M (-27.3%) Shares 77,615 (-27.9%) Est. Cost $163.44 Unrealized -7.1%

AVGO BROADCOM INC 2.1%

Value $23.8M (-13.6%) Shares 76,890 (-3.4%) Est. Cost $162.95 Unrealized +105.1%

USSG DBX ETF TR 0.3%

Value $3.208M (-53.1%) Shares 53,800 (-50.0%) Est. Cost $63.56 Unrealized —

MDT MEDTRONIC PLC 0.3%

Value $3.902M (-47.5%) Shares 45,029 (-41.8%) Est. Cost $73.95 Unrealized +34.6%

EMR EMERSON ELEC CO 0.6%

Value $6.552M (-32.8%) Shares 50,006 (-31.9%) Est. Cost $110.59 Unrealized +34.3%

SYK STRYKER CORPORATION 0.2%

Value $1.828M (-63.5%) Shares 5,562 (-60.9%) Est. Cost $352.05 Unrealized +3.6%

NAK NORTHERN DYNASTY MINERALS LT 0.4%

Value $4.004M (-43.9%) Shares 2,860,000 (-21.1%) Est. Cost $1.14 Unrealized +74.1%

RCL ROYAL CARIBBEAN GROUP 0.6%

Value $6.904M (-31.0%) Shares 25,090 (-30.0%) Est. Cost $251.58 Unrealized +22.8%

ADP AUTOMATIC DATA PROCESSING IN 0.1%

Value $1.553M (-66.2%) Shares 7,645 (-57.1%) Est. Cost $291.83 Unrealized -17.5%

CP CANADIAN PACIFIC KANSAS CITY 0.0%

Value $408K (-88.1%) Shares 5,200 (-88.9%) Est. Cost $75.29 Unrealized +2.6%

NDAQ NASDAQ INC 0.1%

Value $1.104M (-73.1%) Shares 13,003 (-69.3%) Est. Cost $59.25 Unrealized +54.9%

AME AMETEK INC 0.2%

Value $2.391M (-55.7%) Shares 11,156 (-57.5%) Est. Cost $172.98 Unrealized +29.1%

AS AMER SPORTS INC 0.6%

Value $7.147M (-28.8%) Shares 217,100 (-19.2%) Est. Cost $22.04 Unrealized +73.3%

AJG GALLAGHER ARTHUR J & CO 0.2%

Value $2.353M (-54.3%) Shares 10,864 (-45.4%) Est. Cost $256.02 Unrealized -6.1%

SPGI S&P GLOBAL INC 0.2%

Value $1.93M (-58.9%) Shares 4,538 (-49.5%) Est. Cost $377.75 Unrealized +28.5%

KDP KEURIG DR PEPPER INC 0.3%

Value $2.936M (-48.5%) Shares 111,518 (-45.2%) Est. Cost $31.54 Unrealized -10.2%

LOGI LOGITECH INTL S A 1.0%

Value $11.74M (-19.0%) Shares 130,350 (-7.4%) Est. Cost $79.98 Unrealized +15.5%

VIK VIKING HOLDINGS LTD 0.8%

Value $8.994M (-23.2%) Shares 122,401 (-25.4%) Est. Cost $34.22 Unrealized +115.6%

GE GE AEROSPACE 0.3%

Value $3.503M (-43.7%) Shares 12,346 (-38.9%) Est. Cost $199.71 Unrealized +59.3%

HLN HALEON PLC 0.3%

Value $3.308M (-44.9%) Shares 330,494 (-44.4%) Est. Cost $6.20 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.5%

Value $5.485M (-33.0%) Shares 109,254 (-45.6%) Est. Cost $40.48 Unrealized +8.2%

OSW ONESPAWORLD HOLDINGS LIMITED 0.4%

Value $4.191M (-39.1%) Shares 182,600 (-45.0%) Est. Cost $13.78 Unrealized +53.4%

PGR PROGRESSIVE CORP 0.3%

Value $2.929M (-47.8%) Shares 14,774 (-40.1%) Est. Cost $166.69 Unrealized +24.0%

NXPI NXP SEMICONDUCTORS N V 0.3%

Value $2.89M (-47.8%) Shares 14,683 (-42.5%) Est. Cost $178.81 Unrealized +31.1%

BAC BANK AMERICA CORP 0.3%

Value $3.495M (-42.4%) Shares 71,694 (-35.0%) Est. Cost $49.39 Unrealized +8.6%

AMAT APPLIED MATLS INC 1.2%

Value $13.41M (+23.7%) Shares 39,224 (-7.0%) Est. Cost $154.18 Unrealized +111.8%

SCHW SCHWAB CHARLES CORP 0.5%

Value $6.147M (-29.4%) Shares 65,412 (-25.0%) Est. Cost $55.98 Unrealized +78.9%

FISV FISERV INC 0.3%

Value $2.89M (-46.6%) Shares 51,790 (-35.7%) Est. Cost $121.27 Unrealized -47.3%

IDXX IDEXX LABS INC 0.1%

Value $979K (-71.8%) Shares 1,743 (-66.1%) Est. Cost $448.84 Unrealized +49.3%

ADSK AUTODESK INC 0.1%

Value $1.123M (-68.4%) Shares 4,690 (-60.9%) Est. Cost $295.15 Unrealized -14.0%

FUTU FUTU HLDGS LTD 0.1%

Value $1.049M (-69.6%) Shares 7,669 (-63.5%) Est. Cost $137.23 Unrealized —

NSC NORFOLK SOUTHN CORP 0.0%

Value $230K (-91.2%) Shares 800 (-91.1%) Est. Cost $288.62 Unrealized +3.3%

MRK MERCK & CO INC 1.0%

Value $11.41M (-17.0%) Shares 94,852 (-27.4%) Est. Cost $75.85 Unrealized +50.7%

GLW CORNING INC 0.0%

Value $369K (-86.0%) Shares 2,716 (-91.0%) Est. Cost $64.97 Unrealized +71.9%

APH AMPHENOL CORP 0.3%

Value $3.958M (-36.3%) Shares 31,327 (-31.9%) Est. Cost $65.07 Unrealized +125.0%

USB US BANCORP 0.2%

Value $2.735M (-44.8%) Shares 52,585 (-43.4%) Est. Cost $48.28 Unrealized +17.3%

PSA PUBLIC STORAGE OPER CO 0.3%

Value $3.757M (-36.2%) Shares 13,869 (-38.8%) Est. Cost $254.31 Unrealized +1.6%

ISRG INTUITIVE SURGICAL INC 0.2%

Value $2.735M (-43.5%) Shares 5,933 (-30.6%) Est. Cost $302.88 Unrealized +72.0%

SN SHARKNINJA INC 0.3%

Value $3.433M (-38.0%) Shares 32,413 (-34.4%) Est. Cost $83.87 Unrealized +46.3%

TEL TE CONNECTIVITY PLC 0.3%

Value $2.988M (-40.8%) Shares 14,297 (-35.6%) Est. Cost $146.82 Unrealized +56.5%

UNP UNION PAC CORP 0.0%

Value $249K (-89.0%) Shares 1,028 (-89.5%) Est. Cost $220.78 Unrealized +10.2%

C CITIGROUP INC 0.0%

Value $401K (-83.2%) Shares 3,539 (-82.7%) Est. Cost $101.93 Unrealized +14.0%

APP APPLOVIN CORP 0.1%

Value $706K (-73.4%) Shares 1,773 (-55.0%) Est. Cost $298.63 Unrealized +69.8%

UNH UNITEDHEALTH GROUP INC 0.6%

Value $6.451M (-22.6%) Shares 23,842 (-5.6%) Est. Cost $417.49 Unrealized -26.1%

LIN LINDE PLC 0.6%

Value $6.692M (-21.6%) Shares 13,498 (-32.6%) Est. Cost $356.69 Unrealized +29.0%

VRTX VERTEX PHARMACEUTICALS INC 0.2%

Value $2.492M (-42.5%) Shares 5,580 (-41.6%) Est. Cost $357.85 Unrealized +30.7%

TD TORONTO DOMINION BK ONT 0.0%

Value $475K (-79.1%) Shares 5,100 (-78.8%) Est. Cost $82.14 Unrealized +16.0%

MS MORGAN STANLEY 0.3%

Value $2.851M (-38.6%) Shares 17,321 (-33.7%) Est. Cost $164.52 Unrealized +9.2%

EXE EXPAND ENERGY CORPORATION 0.2%

Value $2.594M (-40.7%) Shares 23,633 (-40.4%) Est. Cost $110.64 Unrealized -4.4%

HBAN HUNTINGTON BANCSHARES INC 0.5%

Value $5.621M (-23.8%) Shares 359,174 (-15.5%) Est. Cost $12.28 Unrealized +45.7%

SPOT SPOTIFY TECHNOLOGY S A 0.0%

Value $474K (-78.0%) Shares 978 (-73.7%) Est. Cost $391.56 Unrealized +27.0%

BSX BOSTON SCIENTIFIC CORP 0.0%

Value $503K (-76.9%) Shares 8,009 (-64.9%) Est. Cost $60.01 Unrealized +43.0%

CDNS CADENCE DESIGN SYSTEM INC 0.2%

Value $1.77M (-48.3%) Shares 6,370 (-41.8%) Est. Cost $208.27 Unrealized +45.6%

SO SOUTHERN CO 0.3%

Value $3.138M (-33.9%) Shares 32,510 (-40.3%) Est. Cost $87.55 Unrealized +2.3%

BMY BRISTOL-MYERS SQUIBB CO 0.3%

Value $3.085M (-34.2%) Shares 50,869 (-41.5%) Est. Cost $46.60 Unrealized +23.2%

UBER UBER TECHNOLOGIES INC 0.2%

Value $2.441M (-39.5%) Shares 33,929 (-31.2%) Est. Cost $61.02 Unrealized +29.0%

CRM SALESFORCE INC 0.0%

Value $465K (-77.3%) Shares 2,489 (-67.8%) Est. Cost $298.02 Unrealized -27.6%

DUK DUKE ENERGY CORP NEW 0.3%

Value $3.079M (-33.6%) Shares 23,517 (-40.6%) Est. Cost $117.32 Unrealized +3.0%

GM GENERAL MTRS CO 0.0%

Value $509K (-75.3%) Shares 6,838 (-73.1%) Est. Cost $63.74 Unrealized +29.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.4%

Value $4.925M (-23.0%) Shares 10,278 (-19.3%) Est. Cost $480.48 Unrealized +2.7%

RL RALPH LAUREN CORP 0.9%

Value $10.23M (-12.2%) Shares 29,730 (-9.8%) Est. Cost $168.43 Unrealized +115.6%

HDB HDFC BANK LTD 0.1%

Value $1.188M (-53.9%) Shares 47,747 (-32.2%) Est. Cost $50.27 Unrealized —

SW SMURFIT WESTROCK PLC 0.6%

Value $7.26M (-15.8%) Shares 182,186 (-18.4%) Est. Cost $45.03 Unrealized -2.3%

CAT CATERPILLAR INC 0.6%

Value $6.609M (-17.1%) Shares 9,328 (-32.9%) Est. Cost $331.03 Unrealized +106.7%

CARG CARGURUS INC 0.2%

Value $1.839M (-42.3%) Shares 53,995 (-35.0%) Est. Cost $34.90 Unrealized -7.3%

COST COSTCO WHOLESALE CORPORATION 0.8%

Value $8.687M (-13.2%) Shares 8,718 (-24.9%) Est. Cost $752.71 Unrealized +28.0%

ABT ABBOTT LABORATORIES 0.2%

Value $2.129M (-38.1%) Shares 20,736 (-24.4%) Est. Cost $125.60 Unrealized -8.1%

PM PHILIP MORRIS INTL INC 0.0%

Value $447K (-74.3%) Shares 2,706 (-75.1%) Est. Cost $125.11 Unrealized +40.6%

BWXT BWX TECHNOLOGIES INC 0.1%

Value $820K (-60.8%) Shares 4,012 (-66.9%) Est. Cost $70.10 Unrealized +189.6%

EQIX EQUINIX INC 0.0%

Value $453K (-73.2%) Shares 462 (-79.1%) Est. Cost $781.19 Unrealized -2.2%

DHR DANAHER CORP DEL 0.2%

Value $2.158M (-35.4%) Shares 11,380 (-22.1%) Est. Cost $171.60 Unrealized +30.9%

VEGN ETF SER SOLUTIONS 0.1%

Value $1.027M (-53.5%) Shares 18,170 (-50.0%) Est. Cost $60.76 Unrealized —

NTES NETEASE COM INC 0.0%

Value $336K (-77.6%) Shares 3,000 (-72.5%) Est. Cost $137.49 Unrealized —

SNOW SNOWFLAKE INC 0.2%

Value $1.819M (-38.8%) Shares 12,062 (-11.0%) Est. Cost $244.09 Unrealized -20.3%

XOM EXXON MOBIL CORP 1.2%

Value $13.75M (-7.6%) Shares 81,059 (-34.4%) Est. Cost $68.25 Unrealized +103.3%

HLT HILTON WORLDWIDE HLDGS INC 1.2%

Value $13.85M (-7.5%) Shares 45,546 (-12.6%) Est. Cost $120.18 Unrealized +153.9%

NEE NEXTERA ENERGY INC 0.3%

Value $2.947M (-26.6%) Shares 31,731 (-36.6%) Est. Cost $68.96 Unrealized +26.4%

EUFN ISHARES TR 0.1%

Value $888K (-53.0%) Shares 25,500 (-50.0%) Est. Cost $37.09 Unrealized —

TCOM TRIP COM GROUP LTD 0.1%

Value $1.349M (-41.4%) Shares 27,086 (-15.4%) Est. Cost $61.86 Unrealized —

RY ROYAL BK CDA 0.2%

Value $1.966M (-32.7%) Shares 12,200 (-28.7%) Est. Cost $150.72 Unrealized +12.8%

PEG PUBLIC SVC ENTERPRISE GROUP 0.1%

Value $826K (-52.9%) Shares 10,205 (-53.3%) Est. Cost $81.00 Unrealized +0.7%

EQT EQT CORP 0.2%

Value $2.579M (-25.1%) Shares 40,519 (-36.9%) Est. Cost $56.13 Unrealized -1.5%

FCX FREEPORT MCMORAN INC 0.1%

Value $1.287M (-39.7%) Shares 21,887 (-47.9%) Est. Cost $43.27 Unrealized +41.2%

CRWD CROWDSTRIKE HLDGS INC 0.1%

Value $1.238M (-40.4%) Shares 3,170 (-28.5%) Est. Cost $262.72 Unrealized +64.1%

MCK MCKESSON CORP 0.0%

Value $330K (-71.8%) Shares 381 (-73.2%) Est. Cost $703.63 Unrealized +24.4%

YMM FULL TRUCK ALLIANCE CO LTD 0.2%

Value $2.445M (-25.0%) Shares 294,602 (-3.0%) Est. Cost $9.97 Unrealized —

KSPI KASPI KZ JSC 0.0%

Value $370K (-68.4%) Shares 5,000 (-66.7%) Est. Cost $81.68 Unrealized —

FAST FASTENAL CO 0.1%

Value $1.555M (-33.9%) Shares 33,507 (-42.9%) Est. Cost $42.03 Unrealized +5.3%

TSEM TOWER SEMICONDUCTOR LTD 0.1%

Value $741K (-51.6%) Shares 4,223 (-67.6%) Est. Cost $54.61 Unrealized +136.0%

FERG FERGUSON ENTERPRISES INC 0.1%

Value $1.322M (-36.1%) Shares 5,669 (-39.0%) Est. Cost $237.95 Unrealized +5.5%

IBN ICICI BANK LIMITED 0.2%

Value $2.269M (-24.6%) Shares 87,610 (-13.2%) Est. Cost $28.27 Unrealized —

INDA ISHARES TR 0.1%

Value $882K (-44.9%) Shares 18,820 (-36.4%) Est. Cost $52.60 Unrealized —

CBOE CBOE GLOBAL MKTS INC 0.0%

Value $562K (-55.9%) Shares 2,000 (-60.6%) Est. Cost $206.46 Unrealized +31.7%

CDZI CADIZ INC 0.1%

Value $589K (-54.3%) Shares 120,000 (-47.8%) Est. Cost $2.99 Unrealized +90.3%

BIDU BAIDU INC 0.2%

Value $2.779M (-17.5%) Shares 24,941 (-3.3%) Est. Cost $115.78 Unrealized —

TIMB TIM S A 0.0%

Value $397K (-59.1%) Shares 15,000 (-70.0%) Est. Cost $19.45 Unrealized —

UAMY UNITED STATES ANTIMONY CORP 0.0%

Value $437K (-56.5%) Shares 50,000 (-75.0%) Est. Cost $7.85 Unrealized +5.1%

SHOP SHOPIFY INC 0.1%

Value $670K (-42.8%) Shares 5,657 (-22.2%) Est. Cost $150.60 Unrealized -9.4%

SRE SEMPRA 0.1%

Value $1.019M (-29.0%) Shares 10,488 (-35.5%) Est. Cost $75.52 Unrealized +18.5%

KRMN KARMAN HLDGS INC 0.1%

Value $674K (-36.6%) Shares 8,425 (-42.1%) Est. Cost $54.85 Unrealized +75.2%

BWA BORGWARNER INC 0.2%

Value $2.799M (+14.6%) Shares 51,577 (-4.9%) Est. Cost $34.98 Unrealized +49.6%

UVIX VS TRUST 0.0%

Value $130K (-71.5%) Shares 15,000 (-81.3%) Est. Cost $9.93 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value $1.351M (-18.7%) Shares 25,000 (-19.4%) Est. Cost $39.96 Unrealized —

VST VISTRA CORP 0.1%

Value $619K (-31.1%) Shares 4,115 (-26.1%) Est. Cost $185.23 Unrealized -11.9%

HEPS D MARKET ELECTR SVCS & TRADI 0.1%

Value $865K (-22.5%) Shares 330,000 (-26.7%) Est. Cost $2.62 Unrealized —

EOG EOG RES INC 0.5%

Value $5.863M (-4.0%) Shares 40,555 (-30.3%) Est. Cost $63.55 Unrealized +76.5%

GS GOLDMAN SACHS GROUP INC 0.3%

Value $2.869M (-7.2%) Shares 3,391 (-3.6%) Est. Cost $560.56 Unrealized +66.4%

TSM TAIWAN SEMICONDUCTOR MANUFAC 1.2%

Value $13.65M (+1.4%) Shares 40,397 (-8.8%) Est. Cost $175.77 Unrealized —

TTE TOTALENERGIES SE 1.1%

Value $12.53M (-1.4%) Shares 134,440 (-31.0%) Est. Cost $63.23 Unrealized +13.1%

IBKR INTERACTIVE BROKERS GROUP IN 0.1%

Value $642K (-20.2%) Shares 9,578 (-23.5%) Est. Cost $66.89 Unrealized +10.1%

IEMG ISHARES INC 0.7%

Value $8.267M (+1.9%) Shares 118,528 (-1.8%) Est. Cost $60.12 Unrealized —

QCOM QUALCOMM INC 0.0%

Value $204K (-42.7%) Shares 1,581 (-23.8%) Est. Cost $170.79 Unrealized -9.9%

TT TRANE TECHNOLOGIES PLC 0.0%

Value $245K (-34.0%) Shares 589 (-38.3%) Est. Cost $423.32 Unrealized -0.3%

ADI ANALOG DEVICES INC 0.3%

Value $3.615M (+3.4%) Shares 11,364 (-11.9%) Est. Cost $179.68 Unrealized +76.0%

CNQ CANADIAN NAT RES LTD MED TER 0.0%

Value $433K (+17.0%) Shares 8,900 (-18.3%) Est. Cost $31.51 Unrealized +18.0%

TPR TAPESTRY INC 1.1%

Value $12.35M (+0.5%) Shares 87,540 (-9.0%) Est. Cost $53.51 Unrealized +160.8%

RTX RTX CORPORATION 0.0%

Value $421K (-9.7%) Shares 2,183 (-14.2%) Est. Cost $133.11 Unrealized +47.7%

SLB SLB LIMITED 0.0%

Value $344K (+3.2%) Shares 6,690 (-23.0%) Est. Cost $36.06 Unrealized +33.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	136,639 (-19.6%)	$50.58M (-38.4%)	4.4%	$202.18	+115.0%	COM	594918104
GOOGL	ALPHABET INC	174,544 (-31.5%)	$50.19M (-37.0%)	4.4%	$113.34	+185.2%	CAP STK CL A	02079K305
UBS	UBS GROUP AG	702,763 (-31.1%)	$26.88M (-43.5%)	2.4%	$32.42	+40.5%	SHS	H42097107
META	META PLATFORMS INC	48,999 (-27.1%)	$28.03M (-36.8%)	2.5%	$322.52	+103.3%	CL A	30303M102
AAPL	APPLE INC	187,909 (-17.9%)	$47.69M (-23.4%)	4.2%	$179.89	+46.1%	COM	037833100
BKNG	BOOKING HOLDINGS INC	90 (-96.6%)	$379K (-97.3%)	0.0%	$2570.79	+86.0%	COM	09857L108
NVDA	NVIDIA CORPORATION	368,292 (-10.6%)	$64.23M (-16.4%)	5.6%	$105.20	+77.4%	COM	67066G104
V	VISA INC	68,397 (-24.1%)	$20.67M (-34.6%)	1.8%	$219.51	+50.0%	COM CL A	92826C839
ORCL	ORACLE CORP	29,361 (-57.7%)	$4.319M (-68.0%)	0.4%	$87.37	+94.1%	COM	68389X105
IBM	INTERNATIONAL BUSINESS MACHS	28,228 (-44.7%)	$6.842M (-54.7%)	0.6%	$258.99	+9.6%	COM	459200101
ALC	ALCON AG	116,538 (-40.4%)	$8.594M (-44.9%)	0.8%	$89.55	-10.1%	ORD SHS	H01301128
INTU	INTUIT	3,584 (-72.2%)	$1.55M (-81.9%)	0.1%	$626.67	-20.6%	COM	461202103
VOO	VANGUARD INDEX FDS	12,000 (-46.1%)	$7.171M (-48.6%)	0.6%	$294.70	—	S&P 500 ETF SHS	922908363
CRH	CRH PLC	103,783 (-25.4%)	$10.66M (-38.8%)	0.9%	$91.00	+36.6%	ORD	G25508105
AMZN	AMAZON COM INC	182,545 (-5.7%)	$38.02M (-14.9%)	3.3%	$175.91	+28.9%	COM	023135106
MA	MASTERCARD INCORPORATED	18,792 (-32.9%)	$9.39M (-41.3%)	0.8%	$380.61	+41.6%	CL A	57636Q104
NOW	SERVICENOW INC	4,859 (-89.5%)	$508K (-92.8%)	0.0%	$157.14	-22.9%	COM	81762P102
NFLX	NETFLIX INC.	76,894 (-47.9%)	$7.393M (-46.6%)	0.6%	$97.53	-14.0%	COM	64110L106
DIS	DISNEY WALT CO	61,165 (-41.3%)	$5.895M (-50.3%)	0.5%	$95.67	+14.4%	COM	254687106
JPM	JPMORGAN CHASE & CO	40,667 (-26.7%)	$11.96M (-33.1%)	1.1%	$121.84	+155.6%	COM	46625H100
WFC	WELLS FARGO & CO	92,467 (-34.3%)	$7.361M (-43.9%)	0.6%	$80.14	+12.3%	COM	949746101
MKL	MARKEL GROUP INC	3,304 (-40.9%)	$6.324M (-47.3%)	0.6%	$1101.00	+88.7%	COM	570535104
EFIV	SPDR SERIES TRUST	75,715 (-50.0%)	$4.779M (-52.3%)	0.4%	$66.14	—	STATE STREET SPD	78468R531
AMRZ	AMRIZE LTD	229,309 (-27.9%)	$12.43M (-28.9%)	1.1%	$51.00	+12.0%	SHS	H2927K103
ADBE	ADOBE INC	7,964 (-60.0%)	$1.936M (-72.2%)	0.2%	$452.04	-35.9%	COM	00724F101
INFY	INFOSYS LTD	55,000 (-82.5%)	$743K (-86.8%)	0.1%	$15.57	—	SPONSORED ADR	456788108
PG	PROCTER & GAMBLE CO	77,615 (-27.9%)	$11.21M (-27.3%)	1.0%	$163.44	-7.1%	COM	742718109
AVGO	BROADCOM INC	76,890 (-3.4%)	$23.8M (-13.6%)	2.1%	$162.95	+105.1%	COM	11135F101
USSG	DBX ETF TR	53,800 (-50.0%)	$3.208M (-53.1%)	0.3%	$63.56	—	XTRACKERS MSCI	233051150
MDT	MEDTRONIC PLC	45,029 (-41.8%)	$3.902M (-47.5%)	0.3%	$73.95	+34.6%	SHS	G5960L103
EMR	EMERSON ELEC CO	50,006 (-31.9%)	$6.552M (-32.8%)	0.6%	$110.59	+34.3%	COM	291011104
SYK	STRYKER CORPORATION	5,562 (-60.9%)	$1.828M (-63.5%)	0.2%	$352.05	+3.6%	COM	863667101
NAK	NORTHERN DYNASTY MINERALS LT	2,860,000 (-21.1%)	$4.004M (-43.9%)	0.4%	$1.14	+74.1%	COM NEW	66510M204
RCL	ROYAL CARIBBEAN GROUP	25,090 (-30.0%)	$6.904M (-31.0%)	0.6%	$251.58	+22.8%	COM	V7780T103
ADP	AUTOMATIC DATA PROCESSING IN	7,645 (-57.1%)	$1.553M (-66.2%)	0.1%	$291.83	-17.5%	COM	053015103
CP	CANADIAN PACIFIC KANSAS CITY	5,200 (-88.9%)	$408K (-88.1%)	0.0%	$75.29	+2.6%	COM	13646K108
NDAQ	NASDAQ INC	13,003 (-69.3%)	$1.104M (-73.1%)	0.1%	$59.25	+54.9%	COM	631103108
AME	AMETEK INC	11,156 (-57.5%)	$2.391M (-55.7%)	0.2%	$172.98	+29.1%	COM	031100100
AS	AMER SPORTS INC	217,100 (-19.2%)	$7.147M (-28.8%)	0.6%	$22.04	+73.3%	COM SHS	G0260P102
AJG	GALLAGHER ARTHUR J & CO	10,864 (-45.4%)	$2.353M (-54.3%)	0.2%	$256.02	-6.1%	COM	363576109
SPGI	S&P GLOBAL INC	4,538 (-49.5%)	$1.93M (-58.9%)	0.2%	$377.75	+28.5%	COM	78409V104
KDP	KEURIG DR PEPPER INC	111,518 (-45.2%)	$2.936M (-48.5%)	0.3%	$31.54	-10.2%	COM	49271V100
LOGI	LOGITECH INTL S A	130,350 (-7.4%)	$11.74M (-19.0%)	1.0%	$79.98	+15.5%	SHS	H50430232
VIK	VIKING HOLDINGS LTD	122,401 (-25.4%)	$8.994M (-23.2%)	0.8%	$34.22	+115.6%	ORD SHS	G93A5A101
GE	GE AEROSPACE	12,346 (-38.9%)	$3.503M (-43.7%)	0.3%	$199.71	+59.3%	COM NEW	369604301
HLN	HALEON PLC	330,494 (-44.4%)	$3.308M (-44.9%)	0.3%	$6.20	—	SPON ADS	405552100
VZ	VERIZON COMMUNICATIONS INC	109,254 (-45.6%)	$5.485M (-33.0%)	0.5%	$40.48	+8.2%	COM	92343V104
OSW	ONESPAWORLD HOLDINGS LIMITED	182,600 (-45.0%)	$4.191M (-39.1%)	0.4%	$13.78	+53.4%	COM	P73684113
PGR	PROGRESSIVE CORP	14,774 (-40.1%)	$2.929M (-47.8%)	0.3%	$166.69	+24.0%	COM	743315103
NXPI	NXP SEMICONDUCTORS N V	14,683 (-42.5%)	$2.89M (-47.8%)	0.3%	$178.81	+31.1%	COM	N6596X109
BAC	BANK AMERICA CORP	71,694 (-35.0%)	$3.495M (-42.4%)	0.3%	$49.39	+8.6%	COM	060505104
AMAT	APPLIED MATLS INC	39,224 (-7.0%)	$13.41M (+23.7%)	1.2%	$154.18	+111.8%	COM	038222105
SCHW	SCHWAB CHARLES CORP	65,412 (-25.0%)	$6.147M (-29.4%)	0.5%	$55.98	+78.9%	COM	808513105
FISV	FISERV INC	51,790 (-35.7%)	$2.89M (-46.6%)	0.3%	$121.27	-47.3%	COM	337738108
IDXX	IDEXX LABS INC	1,743 (-66.1%)	$979K (-71.8%)	0.1%	$448.84	+49.3%	COM	45168D104
ADSK	AUTODESK INC	4,690 (-60.9%)	$1.123M (-68.4%)	0.1%	$295.15	-14.0%	COM	052769106
FUTU	FUTU HLDGS LTD	7,669 (-63.5%)	$1.049M (-69.6%)	0.1%	$137.23	—	SPON ADS CL A	36118L106
NSC	NORFOLK SOUTHN CORP	800 (-91.1%)	$230K (-91.2%)	0.0%	$288.62	+3.3%	COM	655844108
MRK	MERCK & CO INC	94,852 (-27.4%)	$11.41M (-17.0%)	1.0%	$75.85	+50.7%	COM	58933Y105
GLW	CORNING INC	2,716 (-91.0%)	$369K (-86.0%)	0.0%	$64.97	+71.9%	COM	219350105
APH	AMPHENOL CORP	31,327 (-31.9%)	$3.958M (-36.3%)	0.3%	$65.07	+125.0%	CL A	032095101
USB	US BANCORP	52,585 (-43.4%)	$2.735M (-44.8%)	0.2%	$48.28	+17.3%	COM NEW	902973304
PSA	PUBLIC STORAGE OPER CO	13,869 (-38.8%)	$3.757M (-36.2%)	0.3%	$254.31	+1.6%	COM	74460D109
ISRG	INTUITIVE SURGICAL INC	5,933 (-30.6%)	$2.735M (-43.5%)	0.2%	$302.88	+72.0%	COM NEW	46120E602
SN	SHARKNINJA INC	32,413 (-34.4%)	$3.433M (-38.0%)	0.3%	$83.87	+46.3%	COM SHS	G8068L108
TEL	TE CONNECTIVITY PLC	14,297 (-35.6%)	$2.988M (-40.8%)	0.3%	$146.82	+56.5%	ORD SHS	G87052109
UNP	UNION PAC CORP	1,028 (-89.5%)	$249K (-89.0%)	0.0%	$220.78	+10.2%	COM	907818108
C	CITIGROUP INC	3,539 (-82.7%)	$401K (-83.2%)	0.0%	$101.93	+14.0%	COM NEW	172967424
APP	APPLOVIN CORP	1,773 (-55.0%)	$706K (-73.4%)	0.1%	$298.63	+69.8%	COM CL A	03831W108
UNH	UNITEDHEALTH GROUP INC	23,842 (-5.6%)	$6.451M (-22.6%)	0.6%	$417.49	-26.1%	COM	91324P102
LIN	LINDE PLC	13,498 (-32.6%)	$6.692M (-21.6%)	0.6%	$356.69	+29.0%	SHS	G54950103
VRTX	VERTEX PHARMACEUTICALS INC	5,580 (-41.6%)	$2.492M (-42.5%)	0.2%	$357.85	+30.7%	COM	92532F100
TD	TORONTO DOMINION BK ONT	5,100 (-78.8%)	$475K (-79.1%)	0.0%	$82.14	+16.0%	COM NEW	891160509
MS	MORGAN STANLEY	17,321 (-33.7%)	$2.851M (-38.6%)	0.3%	$164.52	+9.2%	COM NEW	617446448
EXE	EXPAND ENERGY CORPORATION	23,633 (-40.4%)	$2.594M (-40.7%)	0.2%	$110.64	-4.4%	COM	165167735
HBAN	HUNTINGTON BANCSHARES INC	359,174 (-15.5%)	$5.621M (-23.8%)	0.5%	$12.28	+45.7%	COM	446150104
SPOT	SPOTIFY TECHNOLOGY S A	978 (-73.7%)	$474K (-78.0%)	0.0%	$391.56	+27.0%	SHS	L8681T102
BSX	BOSTON SCIENTIFIC CORP	8,009 (-64.9%)	$503K (-76.9%)	0.0%	$60.01	+43.0%	COM	101137107
CDNS	CADENCE DESIGN SYSTEM INC	6,370 (-41.8%)	$1.77M (-48.3%)	0.2%	$208.27	+45.6%	COM	127387108
SO	SOUTHERN CO	32,510 (-40.3%)	$3.138M (-33.9%)	0.3%	$87.55	+2.3%	COM	842587107
BMY	BRISTOL-MYERS SQUIBB CO	50,869 (-41.5%)	$3.085M (-34.2%)	0.3%	$46.60	+23.2%	COM	110122108
UBER	UBER TECHNOLOGIES INC	33,929 (-31.2%)	$2.441M (-39.5%)	0.2%	$61.02	+29.0%	COM	90353T100
CRM	SALESFORCE INC	2,489 (-67.8%)	$465K (-77.3%)	0.0%	$298.02	-27.6%	COM	79466L302
DUK	DUKE ENERGY CORP NEW	23,517 (-40.6%)	$3.079M (-33.6%)	0.3%	$117.32	+3.0%	COM NEW	26441C204
GM	GENERAL MTRS CO	6,838 (-73.1%)	$509K (-75.3%)	0.0%	$63.74	+29.0%	COM	37045V100
BRK/B	BERKSHIRE HATHAWAY INC DEL	10,278 (-19.3%)	$4.925M (-23.0%)	0.4%	$480.48	+2.7%	CL B NEW	084670702
RL	RALPH LAUREN CORP	29,730 (-9.8%)	$10.23M (-12.2%)	0.9%	$168.43	+115.6%	CL A	751212101
HDB	HDFC BANK LTD	47,747 (-32.2%)	$1.188M (-53.9%)	0.1%	$50.27	—	SPONSORED ADS	40415F101
SW	SMURFIT WESTROCK PLC	182,186 (-18.4%)	$7.26M (-15.8%)	0.6%	$45.03	-2.3%	SHS	G8267P108
CAT	CATERPILLAR INC	9,328 (-32.9%)	$6.609M (-17.1%)	0.6%	$331.03	+106.7%	COM	149123101
CARG	CARGURUS INC	53,995 (-35.0%)	$1.839M (-42.3%)	0.2%	$34.90	-7.3%	COM CL A	141788109
COST	COSTCO WHOLESALE CORPORATION	8,718 (-24.9%)	$8.687M (-13.2%)	0.8%	$752.71	+28.0%	COM	22160K105
ABT	ABBOTT LABORATORIES	20,736 (-24.4%)	$2.129M (-38.1%)	0.2%	$125.60	-8.1%	COM	002824100
PM	PHILIP MORRIS INTL INC	2,706 (-75.1%)	$447K (-74.3%)	0.0%	$125.11	+40.6%	COM	718172109
BWXT	BWX TECHNOLOGIES INC	4,012 (-66.9%)	$820K (-60.8%)	0.1%	$70.10	+189.6%	COM	05605H100
EQIX	EQUINIX INC	462 (-79.1%)	$453K (-73.2%)	0.0%	$781.19	-2.2%	COM	29444U700
DHR	DANAHER CORP DEL	11,380 (-22.1%)	$2.158M (-35.4%)	0.2%	$171.60	+30.9%	COM	235851102
VEGN	ETF SER SOLUTIONS	18,170 (-50.0%)	$1.027M (-53.5%)	0.1%	$60.76	—	US VEGAN CLIMATE	26922A297
NTES	NETEASE COM INC	3,000 (-72.5%)	$336K (-77.6%)	0.0%	$137.49	—	SPONSORED ADS	64110W102
SNOW	SNOWFLAKE INC	12,062 (-11.0%)	$1.819M (-38.8%)	0.2%	$244.09	-20.3%	COM SHS	833445109
XOM	EXXON MOBIL CORP	81,059 (-34.4%)	$13.75M (-7.6%)	1.2%	$68.25	+103.3%	COM	30231G102
HLT	HILTON WORLDWIDE HLDGS INC	45,546 (-12.6%)	$13.85M (-7.5%)	1.2%	$120.18	+153.9%	COM	43300A203
NEE	NEXTERA ENERGY INC	31,731 (-36.6%)	$2.947M (-26.6%)	0.3%	$68.96	+26.4%	COM	65339F101
EUFN	ISHARES TR	25,500 (-50.0%)	$888K (-53.0%)	0.1%	$37.09	—	MSCI EURO FL ETF	464289180
TCOM	TRIP COM GROUP LTD	27,086 (-15.4%)	$1.349M (-41.4%)	0.1%	$61.86	—	ADS	89677Q107
RY	ROYAL BK CDA	12,200 (-28.7%)	$1.966M (-32.7%)	0.2%	$150.72	+12.8%	COM	780087102
PEG	PUBLIC SVC ENTERPRISE GROUP	10,205 (-53.3%)	$826K (-52.9%)	0.1%	$81.00	+0.7%	COM	744573106
EQT	EQT CORP	40,519 (-36.9%)	$2.579M (-25.1%)	0.2%	$56.13	-1.5%	COM	26884L109
FCX	FREEPORT MCMORAN INC	21,887 (-47.9%)	$1.287M (-39.7%)	0.1%	$43.27	+41.2%	CL B	35671D857
CRWD	CROWDSTRIKE HLDGS INC	3,170 (-28.5%)	$1.238M (-40.4%)	0.1%	$262.72	+64.1%	CL A	22788C105
MCK	MCKESSON CORP	381 (-73.2%)	$330K (-71.8%)	0.0%	$703.63	+24.4%	COM	58155Q103
YMM	FULL TRUCK ALLIANCE CO LTD	294,602 (-3.0%)	$2.445M (-25.0%)	0.2%	$9.97	—	SPONSORED ADS	35969L108
KSPI	KASPI KZ JSC	5,000 (-66.7%)	$370K (-68.4%)	0.0%	$81.68	—	SPONSORED ADS	48581R205
FAST	FASTENAL CO	33,507 (-42.9%)	$1.555M (-33.9%)	0.1%	$42.03	+5.3%	COM	311900104
TSEM	TOWER SEMICONDUCTOR LTD	4,223 (-67.6%)	$741K (-51.6%)	0.1%	$54.61	+136.0%	SHS NEW	M87915274
FERG	FERGUSON ENTERPRISES INC	5,669 (-39.0%)	$1.322M (-36.1%)	0.1%	$237.95	+5.5%	COMMON STOCK NEW	31488V107
IBN	ICICI BANK LIMITED	87,610 (-13.2%)	$2.269M (-24.6%)	0.2%	$28.27	—	ADR	45104G104
INDA	ISHARES TR	18,820 (-36.4%)	$882K (-44.9%)	0.1%	$52.60	—	MSCI INDIA ETF	46429B598
CBOE	CBOE GLOBAL MKTS INC	2,000 (-60.6%)	$562K (-55.9%)	0.0%	$206.46	+31.7%	COM	12503M108
CDZI	CADIZ INC	120,000 (-47.8%)	$589K (-54.3%)	0.1%	$2.99	+90.3%	COM NEW	127537207
BIDU	BAIDU INC	24,941 (-3.3%)	$2.779M (-17.5%)	0.2%	$115.78	—	SPON ADR REP A	056752108
TIMB	TIM S A	15,000 (-70.0%)	$397K (-59.1%)	0.0%	$19.45	—	SPONSORED ADR	88706T108
UAMY	UNITED STATES ANTIMONY CORP	50,000 (-75.0%)	$437K (-56.5%)	0.0%	$7.85	+5.1%	COM	911549103
SHOP	SHOPIFY INC	5,657 (-22.2%)	$670K (-42.8%)	0.1%	$150.60	-9.4%	CL A SUB VTG SHS	82509L107
SRE	SEMPRA	10,488 (-35.5%)	$1.019M (-29.0%)	0.1%	$75.52	+18.5%	COM	816851109
KRMN	KARMAN HLDGS INC	8,425 (-42.1%)	$674K (-36.6%)	0.1%	$54.85	+75.2%	COMMON STOCK	485924104
BWA	BORGWARNER INC	51,577 (-4.9%)	$2.799M (+14.6%)	0.2%	$34.98	+49.6%	COM	099724106
UVIX	VS TRUST	15,000 (-81.3%)	$130K (-71.5%)	0.0%	$9.93	—	2X LONG VIX FUTU	92891H606
VWO	VANGUARD INTL EQUITY INDEX F	25,000 (-19.4%)	$1.351M (-18.7%)	0.1%	$39.96	—	FTSE EMR MKT ETF	922042858
VST	VISTRA CORP	4,115 (-26.1%)	$619K (-31.1%)	0.1%	$185.23	-11.9%	COM	92840M102
HEPS	D MARKET ELECTR SVCS & TRADI	330,000 (-26.7%)	$865K (-22.5%)	0.1%	$2.62	—	SPONSORED ADS	23292B104
EOG	EOG RES INC	40,555 (-30.3%)	$5.863M (-4.0%)	0.5%	$63.55	+76.5%	COM	26875P101
GS	GOLDMAN SACHS GROUP INC	3,391 (-3.6%)	$2.869M (-7.2%)	0.3%	$560.56	+66.4%	COM	38141G104
TSM	TAIWAN SEMICONDUCTOR MANUFAC	40,397 (-8.8%)	$13.65M (+1.4%)	1.2%	$175.77	—	SPONSORED ADS	874039100
TTE	TOTALENERGIES SE	134,440 (-31.0%)	$12.53M (-1.4%)	1.1%	$63.23	+13.1%	ACT	F92124100
IBKR	INTERACTIVE BROKERS GROUP IN	9,578 (-23.5%)	$642K (-20.2%)	0.1%	$66.89	+10.1%	COM CL A	45841N107
IEMG	ISHARES INC	118,528 (-1.8%)	$8.267M (+1.9%)	0.7%	$60.12	—	CORE MSCI EMKT	46434G103
QCOM	QUALCOMM INC	1,581 (-23.8%)	$204K (-42.7%)	0.0%	$170.79	-9.9%	COM	747525103
TT	TRANE TECHNOLOGIES PLC	589 (-38.3%)	$245K (-34.0%)	0.0%	$423.32	-0.3%	SHS	G8994E103
ADI	ANALOG DEVICES INC	11,364 (-11.9%)	$3.615M (+3.4%)	0.3%	$179.68	+76.0%	COM	032654105
CNQ	CANADIAN NAT RES LTD MED TER	8,900 (-18.3%)	$433K (+17.0%)	0.0%	$31.51	+18.0%	COM	136385101
TPR	TAPESTRY INC	87,540 (-9.0%)	$12.35M (+0.5%)	1.1%	$53.51	+160.8%	COM	876030107
RTX	RTX CORPORATION	2,183 (-14.2%)	$421K (-9.7%)	0.0%	$133.11	+47.7%	COM	75513E101
SLB	SLB LIMITED	6,690 (-23.0%)	$344K (+3.2%)	0.0%	$36.06	+33.9%	COM STK	806857108

Unchanged Positions (10)

BAP CREDICORP LTD 0.2%

Value $2.296M Shares 6,770 Est. Cost $264.77 Unrealized +27.2%

PDD PDD HOLDINGS INC 0.2%

Value $2.268M Shares 22,196 Est. Cost $114.59 Unrealized —

SE SEA LTD 0.0%

Value $441K Shares 5,327 Est. Cost $161.64 Unrealized —

LEA LEAR CORP 0.2%

Value $2.603M Shares 21,502 Est. Cost $95.82 Unrealized +33.3%

RNW RENEW ENERGY GLOBAL PLC 0.0%

Value $458K Shares 100,000 Est. Cost $7.02 Unrealized -22.5%

BBAR BANCO BBVA ARGENTINA S A 0.1%

Value $793K Shares 49,361 Est. Cost $17.13 Unrealized —

AXP AMERICAN EXPRESS CO 0.0%

Value $374K Shares 1,238 Est. Cost $327.52 Unrealized +8.7%

MCO MOODYS CORP 0.0%

Value $342K Shares 784 Est. Cost $487.35 Unrealized +0.5%

TXN TEXAS INSTRS INC 0.0%

Value $491K Shares 2,530 Est. Cost $144.99 Unrealized +42.3%

IEF ISHARES TR 0.6%

Value $6.49M Shares 68,000 Est. Cost $95.89 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BAP	CREDICORP LTD	6,770	$2.296M	0.2%	$264.77	+27.2%	COM	G2519Y108
PDD	PDD HOLDINGS INC	22,196	$2.268M	0.2%	$114.59	—	SPONSORED ADS	722304102
SE	SEA LTD	5,327	$441K	0.0%	$161.64	—	SPONSORD ADS	81141R100
LEA	LEAR CORP	21,502	$2.603M	0.2%	$95.82	+33.3%	COM NEW	521865204
RNW	RENEW ENERGY GLOBAL PLC	100,000	$458K	0.0%	$7.02	-22.5%	CL A SHS	G7500M104
BBAR	BANCO BBVA ARGENTINA S A	49,361	$793K	0.1%	$17.13	—	SPONSORED ADS	058934100
AXP	AMERICAN EXPRESS CO	1,238	$374K	0.0%	$327.52	+8.7%	COM	025816109
MCO	MOODYS CORP	784	$342K	0.0%	$487.35	+0.5%	COM	615369105
TXN	TEXAS INSTRS INC	2,530	$491K	0.0%	$144.99	+42.3%	COM	882508104
IEF	ISHARES TR	68,000	$6.49M	0.6%	$95.89	—	7-10 YR TRSY BD	464287440