Pine Ridge Advisers LLC Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	2,227,380 (+2.0%)	$110,589 (-22.1%)	6.6%	$41.77	—	SHS BEN INT	46438F101
IJH	ISHARES TR	1,088,350 (+21.0%)	$71,831 (+22.4%)	4.3%	$88.86	—	CORE S&P MCP ETF	464287507
OTF	BLUE OWL TECHNOLOGY FIN CORP	511,364 (+216.7%)	$7,435 (+233.2%)	0.4%	$13.83	-1.2%	COMMON STOCK	095924106
META	META PLATFORMS INC	10,235 (+78.5%)	$6,756 (+60.4%)	0.4%	$445.94	+49.6%	CL A	30303M102
AMZN	AMAZON COM INC	31,780 (+16.0%)	$7,335 (+22.0%)	0.4%	$140.94	+62.3%	COM	023135106
MSFT	MICROSOFT CORP	9,510 (+25.0%)	$4,599 (+16.7%)	0.3%	$345.84	+44.7%	COM	594918104
AESI	ATLAS ENERGY SOLUTIONS INC	1,844,036 (+23.4%)	$17,371 (+2.3%)	1.0%	$14.85	-31.9%	COM NEW	642045108

Decreased Positions (1)

VTI VANGUARD INDEX FDS 1.6%

Value ($000) $26,613 (-26.8%) Shares 79,379 (-28.4%) Est. Cost $286.76 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VTI	VANGUARD INDEX FDS	79,379 (-28.4%)	$26,613 (-26.8%)	1.6%	$286.76	—	TOTAL STK MKT	922908769

Unchanged Positions (30)

FBTC FIDELITY WISE ORIGIN BITCOIN 3.8%

Value ($000) $63,604 Shares 834,367 Est. Cost $62.06 Unrealized —

SPY SPDR S&P 500 ETF TR 33.5%

Value ($000) $561,534 Shares 823,461 Est. Cost $457.87 Unrealized —

— SPDR S&P 500 ETF TR 13.5%

Value ($000) $225,716 Shares 331,000 Est. Cost — Unrealized —

BITB BITWISE BITCOIN ETF TR 1.0%

Value ($000) $15,996 Shares 336,325 Est. Cost $38.71 Unrealized —

GOOG ALPHABET INC 0.9%

Value ($000) $15,062 Shares 48,000 Est. Cost $109.48 Unrealized +161.5%

GOOGL ALPHABET INC 0.8%

Value ($000) $13,390 Shares 42,780 Est. Cost $108.73 Unrealized +162.7%

GLD SPDR GOLD TR 1.7%

Value ($000) $28,227 Shares 71,225 Est. Cost $178.82 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 3.7%

Value ($000) $61,487 Shares 984,266 Est. Cost $47.90 Unrealized —

SMH VANECK ETF TRUST 1.5%

Value ($000) $24,548 Shares 68,165 Est. Cost $207.76 Unrealized —

IVV ISHARES TR 5.5%

Value ($000) $92,485 Shares 135,026 Est. Cost $383.90 Unrealized —

QQQ INVESCO QQQ TR 5.2%

Value ($000) $87,672 Shares 142,716 Est. Cost $374.01 Unrealized —

ROIV ROIVANT SCIENCES LTD 0.4%

Value ($000) $6,001 Shares 276,530 Est. Cost $10.96 Unrealized +80.0%

VO VANGUARD INDEX FDS 5.3%

Value ($000) $88,843 Shares 306,122 Est. Cost $245.03 Unrealized —

IEFA ISHARES TR 1.5%

Value ($000) $24,682 Shares 275,902 Est. Cost $65.65 Unrealized —

AAPL APPLE INC 0.4%

Value ($000) $7,423 Shares 27,305 Est. Cost $184.49 Unrealized +45.5%

IJR ISHARES TR 2.5%

Value ($000) $41,375 Shares 344,276 Est. Cost $107.73 Unrealized —

INTC INTEL CORP 0.2%

Value ($000) $4,134 Shares 112,045 Est. Cost $32.23 Unrealized +17.1%

ASML ASML HOLDING N V 0.2%

Value ($000) $3,236 Shares 3,025 Est. Cost $801.39 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.9%

Value ($000) $14,457 Shares 75,471 Est. Cost $180.92 Unrealized —

JPM JPMORGAN CHASE & CO. 0.4%

Value ($000) $6,928 Shares 21,500 Est. Cost $98.14 Unrealized +215.4%

IWM ISHARES TR 0.4%

Value ($000) $6,406 Shares 26,022 Est. Cost $180.98 Unrealized —

VNQ VANGUARD INDEX FDS 0.3%

Value ($000) $4,569 Shares 51,629 Est. Cost $85.88 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.8%

Value ($000) $12,584 Shares 234,077 Est. Cost $44.46 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 0.2%

Value ($000) $3,078 Shares 41,848 Est. Cost $60.53 Unrealized —

VOO VANGUARD INDEX FDS 0.2%

Value ($000) $3,183 Shares 5,075 Est. Cost $500.13 Unrealized —

TSLA TESLA INC 0.1%

Value ($000) $2,408 Shares 5,355 Est. Cost $264.79 Unrealized +67.4%

VXUS VANGUARD STAR FDS 0.0%

Value ($000) $549 Shares 7,271 Est. Cost $63.81 Unrealized —

IWV ISHARES TR 0.0%

Value ($000) $419 Shares 1,083 Est. Cost $220.68 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 0.2%

Value ($000) $3,774 Shares 5 Est. Cost $428128.38 Unrealized +74.3%

AGG ISHARES TR 0.0%

Value ($000) $354 Shares 3,543 Est. Cost $99.20 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FBTC	FIDELITY WISE ORIGIN BITCOIN	834,367	$63,604	3.8%	$62.06	—	SHS	315948109
SPY	SPDR S&P 500 ETF TR	823,461	$561,534	33.5%	$457.87	—	TR UNIT	78462F103
—	SPDR S&P 500 ETF TR	331,000	$225,716	13.5%	—	—	CALL	78462F903
BITB	BITWISE BITCOIN ETF TR	336,325	$15,996	1.0%	$38.71	—	SHS BEN INT	09174C104
GOOG	ALPHABET INC	48,000	$15,062	0.9%	$109.48	+161.5%	CAP STK CL C	02079K107
GOOGL	ALPHABET INC	42,780	$13,390	0.8%	$108.73	+162.7%	CAP STK CL A	02079K305
GLD	SPDR GOLD TR	71,225	$28,227	1.7%	$178.82	—	GOLD SHS	78463V107
VEA	VANGUARD TAX-MANAGED FDS	984,266	$61,487	3.7%	$47.90	—	VAN FTSE DEV MKT	921943858
SMH	VANECK ETF TRUST	68,165	$24,548	1.5%	$207.76	—	SEMICONDUCTR ETF	92189F676
IVV	ISHARES TR	135,026	$92,485	5.5%	$383.90	—	CORE S&P500 ETF	464287200
QQQ	INVESCO QQQ TR	142,716	$87,672	5.2%	$374.01	—	UNIT SER 1	46090E103
ROIV	ROIVANT SCIENCES LTD	276,530	$6,001	0.4%	$10.96	+80.0%	SHS	G76279101
VO	VANGUARD INDEX FDS	306,122	$88,843	5.3%	$245.03	—	MID CAP ETF	922908629
IEFA	ISHARES TR	275,902	$24,682	1.5%	$65.65	—	CORE MSCI EAFE	46432F842
AAPL	APPLE INC	27,305	$7,423	0.4%	$184.49	+45.5%	COM	037833100
IJR	ISHARES TR	344,276	$41,375	2.5%	$107.73	—	CORE S&P SCP ETF	464287804
INTC	INTEL CORP	112,045	$4,134	0.2%	$32.23	+17.1%	COM	458140100
ASML	ASML HOLDING N V	3,025	$3,236	0.2%	$801.39	—	N Y REGISTRY SHS	N07059210
RSP	INVESCO EXCHANGE TRADED FD T	75,471	$14,457	0.9%	$180.92	—	S&P500 EQL WGT	46137V357
JPM	JPMORGAN CHASE & CO.	21,500	$6,928	0.4%	$98.14	+215.4%	COM	46625H100
IWM	ISHARES TR	26,022	$6,406	0.4%	$180.98	—	RUSSELL 2000 ETF	464287655
VNQ	VANGUARD INDEX FDS	51,629	$4,569	0.3%	$85.88	—	REAL ESTATE ETF	922908553
VWO	VANGUARD INTL EQUITY INDEX F	234,077	$12,584	0.8%	$44.46	—	FTSE EMR MKT ETF	922042858
VEU	VANGUARD INTL EQUITY INDEX F	41,848	$3,078	0.2%	$60.53	—	ALLWRLD EX US	922042775
VOO	VANGUARD INDEX FDS	5,075	$3,183	0.2%	$500.13	—	S&P 500 ETF SHS	922908363
TSLA	TESLA INC	5,355	$2,408	0.1%	$264.79	+67.4%	COM	88160R101
VXUS	VANGUARD STAR FDS	7,271	$549	0.0%	$63.81	—	VG TL INTL STK F	921909768
IWV	ISHARES TR	1,083	$419	0.0%	$220.68	—	RUSSELL 3000 ETF	464287689
BRK/A	BERKSHIRE HATHAWAY INC DEL	5	$3,774	0.2%	$428128.38	+74.3%	CL A	084670108
AGG	ISHARES TR	3,543	$354	0.0%	$99.20	—	CORE US AGGBD ET	464287226