Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DXJ	WISDOMTREE TR	10,000	$1.586M	0.2%	$158.60	—	JAPN HEDGE EQT	97717W851
AGI	ALAMOS GOLD INC	13,738	$610K	0.1%	$42.54	0.0%	COM CL A	011532108
IGV	ISHARES TR	7,500	$600K	0.1%	$80.00	—	EXPANDED TECH	464287515
SOLS	SOLSTICE ADVANCED MATLS INC	4,368	$333K	0.0%	$65.21	0.0%	COM SHS	83443Q103
STIP	ISHARES TR	2,817	$291K	0.0%	$103.30	—	0-5 YR TIPS ETF	46429B747
CWAN	CLEARWATER ANALYTICS HLDGS I	11,093	$262K	0.0%	$23.83	0.0%	CL A	185123106
FWONK	LIBERTY MEDIA CORP DEL	3,066	$261K	0.0%	$85.13	—	COM LBTY ONE S C	531229755

Increased Positions (45)

VT VANGUARD INTL EQUITY INDEX F 15.7%

Value $141M (+203.5%) Shares 1,018,695 (+209.5%) Est. Cost $130.71 Unrealized —

VXUS VANGUARD STAR FDS 12.4%

Value $111M (+23.5%) Shares 1,439,639 (+20.8%) Est. Cost $57.88 Unrealized —

AGG ISHARES TR 3.7%

Value $33.22M (+135.6%) Shares 334,661 (+137.0%) Est. Cost $99.06 Unrealized —

VTI VANGUARD INDEX FDS 12.0%

Value $107M (+13.6%) Shares 334,452 (+18.8%) Est. Cost $191.74 Unrealized —

IYR ISHARES TR 2.2%

Value $19.29M (+29.3%) Shares 204,000 (+28.4%) Est. Cost $94.25 Unrealized —

DJP BARCLAYS BANK PLC 1.1%

Value $9.565M (+68.2%) Shares 198,685 (+31.4%) Est. Cost $38.17 Unrealized —

TIP ISHARES TR 1.2%

Value $11.09M (+35.6%) Shares 100,485 (+35.1%) Est. Cost $112.78 Unrealized —

VGK VANGUARD INTL EQUITY INDEX F 0.2%

Value $2.061M (+393.1%) Shares 25,000 (+400.0%) Est. Cost $79.99 Unrealized —

CVLC MORGAN STANLEY ETF TRUST 0.6%

Value $4.939M (+39.2%) Shares 61,692 (+46.5%) Est. Cost $81.29 Unrealized —

EWJ ISHARES INC 1.2%

Value $10.42M (+14.6%) Shares 123,377 (+9.6%) Est. Cost $69.16 Unrealized —

EAGG ISHARES TR 0.4%

Value $3.245M (+36.5%) Shares 68,254 (+37.4%) Est. Cost $47.89 Unrealized —

SPDW SPDR INDEX SHS FDS 0.5%

Value $4.796M (+20.4%) Shares 105,046 (+17.1%) Est. Cost $37.25 Unrealized —

DBC INVESCO DB COMMDY INDX TRCK 0.3%

Value $2.679M (+36.3%) Shares 92,547 (+5.3%) Est. Cost $22.63 Unrealized —

SPIB SPDR SERIES TRUST 0.1%

Value $1.243M (+81.7%) Shares 37,054 (+83.2%) Est. Cost $33.26 Unrealized —

SPAB SPDR SERIES TRUST 0.5%

Value $4.362M (+14.0%) Shares 170,255 (+14.6%) Est. Cost $25.24 Unrealized —

FLKR FRANKLIN TEMPLETON ETF TR 0.2%

Value $1.351M (+45.4%) Shares 33,895 (+16.9%) Est. Cost $23.37 Unrealized —

ASHR DBX ETF TR 0.1%

Value $653K (+98.5%) Shares 20,000 (+100.0%) Est. Cost $29.03 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 2.2%

Value $19.41M (-1.4%) Shares 29,841 (+3.4%) Est. Cost $592.39 Unrealized —

AMZN AMAZON COM INC 0.3%

Value $2.634M (-8.5%) Shares 12,650 (+1.4%) Est. Cost $139.27 Unrealized +62.9%

DAR DARLING INGREDIENTS INC 0.1%

Value $578K (+74.1%) Shares 9,344 (+1.3%) Est. Cost $33.55 Unrealized +34.8%

VOO VANGUARD INDEX FDS 1.7%

Value $15.1M (-1.6%) Shares 25,270 (+3.3%) Est. Cost $504.23 Unrealized —

CIBR FIRST TR EXCHANGE-TRADED FD 0.1%

Value $501K (+75.2%) Shares 8,000 (+100.0%) Est. Cost $67.06 Unrealized —

META META PLATFORMS INC 0.2%

Value $1.903M (-9.3%) Shares 3,327 (+4.7%) Est. Cost $435.48 Unrealized +50.5%

CPNG COUPANG INC 0.1%

Value $513K (+52.7%) Shares 27,185 (+90.9%) Est. Cost $20.98 Unrealized -5.3%

VEEV VEEVA SYS INC 0.1%

Value $484K (+56.1%) Shares 2,757 (+98.5%) Est. Cost $221.49 Unrealized -7.9%

SPEM SPDR INDEX SHS FDS 0.2%

Value $2.102M (+8.9%) Shares 44,805 (+8.7%) Est. Cost $39.65 Unrealized —

SCHX SCHWAB STRATEGIC TR 1.1%

Value $9.947M (+1.6%) Shares 387,945 (+6.6%) Est. Cost $24.51 Unrealized —

BNDX VANGUARD CHARLOTTE FDS 0.3%

Value $2.897M (+5.6%) Shares 60,287 (+6.2%) Est. Cost $49.22 Unrealized —

CCOI COGENT COMM HOLDINGS INC 0.0%

Value $347K (+30.9%) Shares 18,442 (+50.0%) Est. Cost $39.48 Unrealized -41.1%

APPF APPFOLIO INC 0.1%

Value $451K (+20.9%) Shares 2,859 (+78.4%) Est. Cost $209.99 Unrealized -4.6%

MTCH MATCH GROUP INC NEW 0.0%

Value $279K (+32.9%) Shares 9,101 (+39.7%) Est. Cost $32.21 Unrealized -2.5%

HR HEALTHCARE RLTY TR 0.0%

Value $270K (+34.3%) Shares 15,921 (+34.5%) Est. Cost $16.72 Unrealized —

HUM HUMANA INC 0.0%

Value $260K (-16.7%) Shares 1,499 (+23.1%) Est. Cost $254.14 Unrealized -12.0%

SPYM SPDR SERIES TRUST 0.1%

Value $988K (+5.0%) Shares 12,914 (+10.1%) Est. Cost $79.88 Unrealized —

ADSK AUTODESK INC 0.0%

Value $261K (+21.4%) Shares 1,092 (+50.2%) Est. Cost $260.58 Unrealized -2.6%

QRVO QORVO INC 0.0%

Value $258K (+21.1%) Shares 3,338 (+32.4%) Est. Cost $74.66 Unrealized +10.1%

MELI MERCADOLIBRE INC 0.0%

Value $432K (+11.6%) Shares 250 (+30.2%) Est. Cost $1677.04 Unrealized +23.2%

KVUE KENVUE INC 0.0%

Value $258K (+16.7%) Shares 14,952 (+16.7%) Est. Cost $20.74 Unrealized -14.8%

KSPI KASPI KZ JSC 0.1%

Value $512K (+7.6%) Shares 6,915 (+13.5%) Est. Cost $105.55 Unrealized —

PCG PG&E CORP 0.0%

Value $331K (+10.7%) Shares 18,865 (+1.4%) Est. Cost $15.85 Unrealized +3.4%

CRH CRH PLC 0.1%

Value $453K (-5.6%) Shares 4,311 (+12.1%) Est. Cost $83.81 Unrealized +48.3%

BILL BILL HOLDINGS INC 0.0%

Value $272K (+5.8%) Shares 7,097 (+50.4%) Est. Cost $49.90 Unrealized -5.8%

CRM SALESFORCE INC 0.0%

Value $250K (+5.0%) Shares 1,339 (+48.9%) Est. Cost $239.71 Unrealized -10.0%

GEN GEN DIGITAL INC 0.0%

Value $221K (-3.5%) Shares 11,715 (+39.1%) Est. Cost $22.71 Unrealized +7.5%

ENVA ENOVA INTL INC 0.0%

Value $382K (+0.8%) Shares 2,811 (+16.5%) Est. Cost $133.82 Unrealized +16.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VT	VANGUARD INTL EQUITY INDEX F	1,018,695 (+209.5%)	$141M (+203.5%)	15.7%	$130.71	—	TT WRLD ST ETF	922042742
VXUS	VANGUARD STAR FDS	1,439,639 (+20.8%)	$111M (+23.5%)	12.4%	$57.88	—	VG TL INTL STK F	921909768
AGG	ISHARES TR	334,661 (+137.0%)	$33.22M (+135.6%)	3.7%	$99.06	—	CORE US AGGBD ET	464287226
VTI	VANGUARD INDEX FDS	334,452 (+18.8%)	$107M (+13.6%)	12.0%	$191.74	—	TOTAL STK MKT	922908769
IYR	ISHARES TR	204,000 (+28.4%)	$19.29M (+29.3%)	2.2%	$94.25	—	U.S. REAL ES ETF	464287739
DJP	BARCLAYS BANK PLC	198,685 (+31.4%)	$9.565M (+68.2%)	1.1%	$38.17	—	DJUBS CMDT ETN36	06738C778
TIP	ISHARES TR	100,485 (+35.1%)	$11.09M (+35.6%)	1.2%	$112.78	—	TIPS BD ETF	464287176
VGK	VANGUARD INTL EQUITY INDEX F	25,000 (+400.0%)	$2.061M (+393.1%)	0.2%	$79.99	—	FTSE EUROPE ETF	922042874
CVLC	MORGAN STANLEY ETF TRUST	61,692 (+46.5%)	$4.939M (+39.2%)	0.6%	$81.29	—	CALVERT US LARCP	61774R205
EWJ	ISHARES INC	123,377 (+9.6%)	$10.42M (+14.6%)	1.2%	$69.16	—	MSCI JAPAN ETF	46434G822
EAGG	ISHARES TR	68,254 (+37.4%)	$3.245M (+36.5%)	0.4%	$47.89	—	ESG AWR US AGRGT	46435U549
SPDW	SPDR INDEX SHS FDS	105,046 (+17.1%)	$4.796M (+20.4%)	0.5%	$37.25	—	STATE STREET SPD	78463X889
DBC	INVESCO DB COMMDY INDX TRCK	92,547 (+5.3%)	$2.679M (+36.3%)	0.3%	$22.63	—	UNIT	46138B103
SPIB	SPDR SERIES TRUST	37,054 (+83.2%)	$1.243M (+81.7%)	0.1%	$33.26	—	STATE STREET SPD	78464A375
SPAB	SPDR SERIES TRUST	170,255 (+14.6%)	$4.362M (+14.0%)	0.5%	$25.24	—	STATE STREET SPD	78464A649
FLKR	FRANKLIN TEMPLETON ETF TR	33,895 (+16.9%)	$1.351M (+45.4%)	0.2%	$23.37	—	FTSE SOUTH KOREA	35473P710
ASHR	DBX ETF TR	20,000 (+100.0%)	$653K (+98.5%)	0.1%	$29.03	—	XTRACK HRVST CSI	233051879
SPY	STATE STR SPDR S&P 500 ETF T	29,841 (+3.4%)	$19.41M (-1.4%)	2.2%	$592.39	—	TR UNIT	78462F103
AMZN	AMAZON COM INC	12,650 (+1.4%)	$2.634M (-8.5%)	0.3%	$139.27	+62.9%	COM	023135106
DAR	DARLING INGREDIENTS INC	9,344 (+1.3%)	$578K (+74.1%)	0.1%	$33.55	+34.8%	COM	237266101
VOO	VANGUARD INDEX FDS	25,270 (+3.3%)	$15.1M (-1.6%)	1.7%	$504.23	—	S&P 500 ETF SHS	922908363
CIBR	FIRST TR EXCHANGE-TRADED FD	8,000 (+100.0%)	$501K (+75.2%)	0.1%	$67.06	—	NASDAQ CYB ETF	33734X846
META	META PLATFORMS INC	3,327 (+4.7%)	$1.903M (-9.3%)	0.2%	$435.48	+50.5%	CL A	30303M102
CPNG	COUPANG INC	27,185 (+90.9%)	$513K (+52.7%)	0.1%	$20.98	-5.3%	CL A	22266T109
VEEV	VEEVA SYS INC	2,757 (+98.5%)	$484K (+56.1%)	0.1%	$221.49	-7.9%	CL A COM	922475108
SPEM	SPDR INDEX SHS FDS	44,805 (+8.7%)	$2.102M (+8.9%)	0.2%	$39.65	—	STATE STREET SPD	78463X509
SCHX	SCHWAB STRATEGIC TR	387,945 (+6.6%)	$9.947M (+1.6%)	1.1%	$24.51	—	US LRG CAP ETF	808524201
BNDX	VANGUARD CHARLOTTE FDS	60,287 (+6.2%)	$2.897M (+5.6%)	0.3%	$49.22	—	TOTAL INT BD ETF	92203J407
CCOI	COGENT COMM HOLDINGS INC	18,442 (+50.0%)	$347K (+30.9%)	0.0%	$39.48	-41.1%	COM NEW	19239V302
APPF	APPFOLIO INC	2,859 (+78.4%)	$451K (+20.9%)	0.1%	$209.99	-4.6%	COM CL A	03783C100
MTCH	MATCH GROUP INC NEW	9,101 (+39.7%)	$279K (+32.9%)	0.0%	$32.21	-2.5%	COM	57667L107
HR	HEALTHCARE RLTY TR	15,921 (+34.5%)	$270K (+34.3%)	0.0%	$16.72	—	CL A COM	42226K105
HUM	HUMANA INC	1,499 (+23.1%)	$260K (-16.7%)	0.0%	$254.14	-12.0%	COM	444859102
SPYM	SPDR SERIES TRUST	12,914 (+10.1%)	$988K (+5.0%)	0.1%	$79.88	—	STATE STREET SPD	78464A854
ADSK	AUTODESK INC	1,092 (+50.2%)	$261K (+21.4%)	0.0%	$260.58	-2.6%	COM	052769106
QRVO	QORVO INC	3,338 (+32.4%)	$258K (+21.1%)	0.0%	$74.66	+10.1%	COM	74736K101
MELI	MERCADOLIBRE INC	250 (+30.2%)	$432K (+11.6%)	0.0%	$1677.04	+23.2%	COM	58733R102
KVUE	KENVUE INC	14,952 (+16.7%)	$258K (+16.7%)	0.0%	$20.74	-14.8%	COM	49177J102
KSPI	KASPI KZ JSC	6,915 (+13.5%)	$512K (+7.6%)	0.1%	$105.55	—	SPONSORED ADS	48581R205
PCG	PG&E CORP	18,865 (+1.4%)	$331K (+10.7%)	0.0%	$15.85	+3.4%	COM	69331C108
CRH	CRH PLC	4,311 (+12.1%)	$453K (-5.6%)	0.1%	$83.81	+48.3%	ORD	G25508105
BILL	BILL HOLDINGS INC	7,097 (+50.4%)	$272K (+5.8%)	0.0%	$49.90	-5.8%	COM	090043100
CRM	SALESFORCE INC	1,339 (+48.9%)	$250K (+5.0%)	0.0%	$239.71	-10.0%	COM	79466L302
GEN	GEN DIGITAL INC	11,715 (+39.1%)	$221K (-3.5%)	0.0%	$22.71	+7.5%	COM	668771108
ENVA	ENOVA INTL INC	2,811 (+16.5%)	$382K (+0.8%)	0.0%	$133.82	+16.5%	COM	29357K103

Exited Positions (19)

VGIT VANGUARD SCOTTSDALE FDS 0.3%

Value $2.679M Shares 44,700 Est. Cost $58.00 Unrealized —

VGLT VANGUARD SCOTTSDALE FDS 0.3%

Value $2.61M Shares 46,770 Est. Cost $55.35 Unrealized —

RGLD ROYAL GOLD INC 0.1%

Value $550K Shares 2,475 Est. Cost $176.09 Unrealized +53.3%

EWT ISHARES INC 0.1%

Value $508K Shares 8,000 Est. Cost $62.77 Unrealized —

XSW SPDR SERIES TRUST 0.1%

Value $487K Shares 2,600 Est. Cost $111.00 Unrealized —

PFIX SIMPLIFY EXCHANGE TRADED FUN 0.0%

Value $383K Shares 8,000 Est. Cost $46.27 Unrealized —

IAC IAC INC 0.0%

Value $355K Shares 9,088 Est. Cost $42.92 Unrealized -12.2%

USO UNITED STS OIL FD LP 0.0%

Value $346K Shares 5,000 Est. Cost $69.20 Unrealized —

XOP SPDR SERIES TRUST 0.0%

Value $341K Shares 2,700 Est. Cost $133.80 Unrealized —

NWSA NEWS CORP NEW 0.0%

Value $295K Shares 11,280 Est. Cost $28.34 Unrealized -11.3%

ICE INTERCONTINENTAL EXCHANGE IN 0.0%

Value $265K Shares 1,635 Est. Cost $126.64 Unrealized +30.3%

MCO MOODYS CORP 0.0%

Value $255K Shares 499 Est. Cost $380.98 Unrealized +28.5%

MRSH MARSH & MCLENNAN COS INC 0.0%

Value $251K Shares 1,352 Est. Cost $213.32 Unrealized -15.0%

INTU INTUIT 0.0%

Value $251K Shares 379 Est. Cost $564.52 Unrealized -11.9%

WAT WATERS CORP 0.0%

Value $249K Shares 655 Est. Cost $319.30 Unrealized +15.0%

BDX BECTON DICKINSON & CO 0.0%

Value $236K Shares 1,218 Est. Cost $180.83 Unrealized -7.2%

FLUT FLUTTER ENTMT PLC 0.0%

Value $235K Shares 1,094 Est. Cost $289.52 Unrealized -42.5%

KCCA KRANESHARES TRUST 0.0%

Value $225K Shares 13,389 Est. Cost $25.82 Unrealized —

ALIT ALIGHT INC 0.0%

Value $183K Shares 93,980 Est. Cost $5.53 Unrealized -73.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VGIT	VANGUARD SCOTTSDALE FDS	44,700	$2.679M	0.3%	$58.00	—	—	92206C706
VGLT	VANGUARD SCOTTSDALE FDS	46,770	$2.61M	0.3%	$55.35	—	—	92206C847
RGLD	ROYAL GOLD INC	2,475	$550K	0.1%	$176.09	+53.3%	—	780287108
EWT	ISHARES INC	8,000	$508K	0.1%	$62.77	—	—	46434G772
XSW	SPDR SERIES TRUST	2,600	$487K	0.1%	$111.00	—	—	78464A599
PFIX	SIMPLIFY EXCHANGE TRADED FUN	8,000	$383K	0.0%	$46.27	—	—	82889N855
IAC	IAC INC	9,088	$355K	0.0%	$42.92	-12.2%	—	44891N208
USO	UNITED STS OIL FD LP	5,000	$346K	0.0%	$69.20	—	—	91232N207
XOP	SPDR SERIES TRUST	2,700	$341K	0.0%	$133.80	—	—	78468R556
NWSA	NEWS CORP NEW	11,280	$295K	0.0%	$28.34	-11.3%	—	65249B109
ICE	INTERCONTINENTAL EXCHANGE IN	1,635	$265K	0.0%	$126.64	+30.3%	—	45866F104
MCO	MOODYS CORP	499	$255K	0.0%	$380.98	+28.5%	—	615369105
MRSH	MARSH & MCLENNAN COS INC	1,352	$251K	0.0%	$213.32	-15.0%	—	571748102
INTU	INTUIT	379	$251K	0.0%	$564.52	-11.9%	—	461202103
WAT	WATERS CORP	655	$249K	0.0%	$319.30	+15.0%	—	941848103
BDX	BECTON DICKINSON & CO	1,218	$236K	0.0%	$180.83	-7.2%	—	075887109
FLUT	FLUTTER ENTMT PLC	1,094	$235K	0.0%	$289.52	-42.5%	—	G3643J108
KCCA	KRANESHARES TRUST	13,389	$225K	0.0%	$25.82	—	—	500767553
ALIT	ALIGHT INC	93,980	$183K	0.0%	$5.53	-73.6%	—	01626W101

Decreased Positions (26)

BND VANGUARD BD INDEX FDS 12.3%

Value $110M (-21.1%) Shares 1,491,319 (-20.7%) Est. Cost $81.46 Unrealized —

TXO TXO PARTNERS LP 0.5%

Value $4.2M (-78.9%) Shares 333,822 (-82.1%) Est. Cost $18.09 Unrealized —

MSFT MICROSOFT CORP 2.1%

Value $18.54M (-24.4%) Shares 50,073 (-1.2%) Est. Cost $476.74 Unrealized -8.8%

BBRE J P MORGAN EXCHANGE TRADED F 4.7%

Value $41.77M (-10.2%) Shares 436,557 (-13.1%) Est. Cost $89.17 Unrealized —

VNQ VANGUARD INDEX FDS 0.3%

Value $2.83M (-15.8%) Shares 31,900 (-16.1%) Est. Cost $86.73 Unrealized —

LTPZ PIMCO ETF TR 0.1%

Value $1.021M (-34.3%) Shares 20,000 (-33.3%) Est. Cost $52.47 Unrealized —

AVGO BROADCOM INC 0.1%

Value $842K (-33.3%) Shares 2,722 (-25.3%) Est. Cost $357.00 Unrealized -6.4%

EWY ISHARES INC 0.1%

Value $492K (-43.8%) Shares 4,000 (-55.6%) Est. Cost $67.91 Unrealized —

XLK SELECT SECTOR SPDR TR 0.1%

Value $532K (-38.4%) Shares 4,000 (-33.3%) Est. Cost $182.69 Unrealized —

SCHG SCHWAB STRATEGIC TR 0.1%

Value $535K (-37.1%) Shares 18,368 (-29.6%) Est. Cost $29.21 Unrealized —

V VISA INC 0.0%

Value $371K (-45.8%) Shares 1,228 (-37.0%) Est. Cost $279.80 Unrealized +17.6%

CVNA CARVANA CO 0.1%

Value $474K (-39.2%) Shares 1,509 (-18.3%) Est. Cost $140.08 Unrealized +191.6%

GE GE AEROSPACE 0.0%

Value $383K (-42.0%) Shares 1,349 (-37.0%) Est. Cost $107.98 Unrealized +194.7%

ARGT GLOBAL X FDS 0.1%

Value $653K (-28.6%) Shares 7,000 (-30.0%) Est. Cost $31.24 Unrealized —

EWS ISHARES INC 0.1%

Value $847K (-23.0%) Shares 30,000 (-25.0%) Est. Cost $18.35 Unrealized —

HTGC HERCULES CAPITAL INC 0.0%

Value $177K (-52.9%) Shares 12,000 (-40.0%) Est. Cost $19.28 Unrealized -9.2%

SHYG ISHARES TR 0.0%

Value $350K (-36.0%) Shares 8,276 (-35.2%) Est. Cost $42.70 Unrealized —

AAXJ ISHARES TR 1.7%

Value $15.21M (-1.2%) Shares 157,970 (-4.5%) Est. Cost $72.09 Unrealized —

SPLB SPDR SERIES TRUST 0.0%

Value $232K (-43.3%) Shares 10,442 (-42.2%) Est. Cost $22.36 Unrealized —

KRE SPDR SERIES TRUST 0.0%

Value $391K (-24.5%) Shares 6,000 (-25.0%) Est. Cost $64.75 Unrealized —

SHC SOTERA HEALTH CO 0.0%

Value $230K (-32.9%) Shares 16,024 (-17.7%) Est. Cost $16.54 Unrealized +9.1%

WBD WARNER BROS DISCOVERY INC 0.0%

Value $292K (-25.3%) Shares 10,643 (-21.5%) Est. Cost $9.31 Unrealized +203.4%

ILMN ILLUMINA INC 0.0%

Value $263K (-20.1%) Shares 2,137 (-14.8%) Est. Cost $99.18 Unrealized +36.5%

CACC CREDIT ACCEP CORP MICH 0.1%

Value $529K (-9.1%) Shares 1,249 (-4.8%) Est. Cost $495.32 Unrealized -3.6%

GVI ISHARES TR 0.1%

Value $615K (-2.4%) Shares 5,769 (-1.7%) Est. Cost $104.51 Unrealized —

APD AIR PRODUCTS AND CHEMICALS I 0.0%

Value $302K (+3.8%) Shares 1,041 (-11.6%) Est. Cost $285.50 Unrealized -4.9%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BND	VANGUARD BD INDEX FDS	1,491,319 (-20.7%)	$110M (-21.1%)	12.3%	$81.46	—	TOTAL BND MRKT	921937835
TXO	TXO PARTNERS LP	333,822 (-82.1%)	$4.2M (-78.9%)	0.5%	$18.09	—	COM UNIT	87313P103
MSFT	MICROSOFT CORP	50,073 (-1.2%)	$18.54M (-24.4%)	2.1%	$476.74	-8.8%	COM	594918104
BBRE	J P MORGAN EXCHANGE TRADED F	436,557 (-13.1%)	$41.77M (-10.2%)	4.7%	$89.17	—	BETBULD MSCI	46641Q738
VNQ	VANGUARD INDEX FDS	31,900 (-16.1%)	$2.83M (-15.8%)	0.3%	$86.73	—	REAL ESTATE ETF	922908553
LTPZ	PIMCO ETF TR	20,000 (-33.3%)	$1.021M (-34.3%)	0.1%	$52.47	—	15+ YR US TIPS	72201R304
AVGO	BROADCOM INC	2,722 (-25.3%)	$842K (-33.3%)	0.1%	$357.00	-6.4%	COM	11135F101
EWY	ISHARES INC	4,000 (-55.6%)	$492K (-43.8%)	0.1%	$67.91	—	MSCI STH KOR ETF	464286772
XLK	SELECT SECTOR SPDR TR	4,000 (-33.3%)	$532K (-38.4%)	0.1%	$182.69	—	STATE STREET TEC	81369Y803
SCHG	SCHWAB STRATEGIC TR	18,368 (-29.6%)	$535K (-37.1%)	0.1%	$29.21	—	US LCAP GR ETF	808524300
V	VISA INC	1,228 (-37.0%)	$371K (-45.8%)	0.0%	$279.80	+17.6%	COM CL A	92826C839
CVNA	CARVANA CO	1,509 (-18.3%)	$474K (-39.2%)	0.1%	$140.08	+191.6%	CL A	146869102
GE	GE AEROSPACE	1,349 (-37.0%)	$383K (-42.0%)	0.0%	$107.98	+194.7%	COM NEW	369604301
ARGT	GLOBAL X FDS	7,000 (-30.0%)	$653K (-28.6%)	0.1%	$31.24	—	GB MSCI AR ETF	37950E259
EWS	ISHARES INC	30,000 (-25.0%)	$847K (-23.0%)	0.1%	$18.35	—	MSCI SINGPOR ETF	46434G780
HTGC	HERCULES CAPITAL INC	12,000 (-40.0%)	$177K (-52.9%)	0.0%	$19.28	-9.2%	COM	427096508
SHYG	ISHARES TR	8,276 (-35.2%)	$350K (-36.0%)	0.0%	$42.70	—	0-5YR HI YL CP	46434V407
AAXJ	ISHARES TR	157,970 (-4.5%)	$15.21M (-1.2%)	1.7%	$72.09	—	MSCI AC ASIA ETF	464288182
SPLB	SPDR SERIES TRUST	10,442 (-42.2%)	$232K (-43.3%)	0.0%	$22.36	—	STATE STREET SPD	78464A367
KRE	SPDR SERIES TRUST	6,000 (-25.0%)	$391K (-24.5%)	0.0%	$64.75	—	STATE STREET SPD	78464A698
SHC	SOTERA HEALTH CO	16,024 (-17.7%)	$230K (-32.9%)	0.0%	$16.54	+9.1%	COM	83601L102
WBD	WARNER BROS DISCOVERY INC	10,643 (-21.5%)	$292K (-25.3%)	0.0%	$9.31	+203.4%	COM SER A	934423104
ILMN	ILLUMINA INC	2,137 (-14.8%)	$263K (-20.1%)	0.0%	$99.18	+36.5%	COM	452327109
CACC	CREDIT ACCEP CORP MICH	1,249 (-4.8%)	$529K (-9.1%)	0.1%	$495.32	-3.6%	COM	225310101
GVI	ISHARES TR	5,769 (-1.7%)	$615K (-2.4%)	0.1%	$104.51	—	INTRM GOV CR ETF	464288612
APD	AIR PRODUCTS AND CHEMICALS I	1,041 (-11.6%)	$302K (+3.8%)	0.0%	$285.50	-4.9%	COM	009158106

Unchanged Positions (48)

GOOGL ALPHABET INC 3.2%

Value $28.77M Shares 100,042 Est. Cost $199.63 Unrealized +61.9%

NVDA NVIDIA CORPORATION 2.4%

Value $21.73M Shares 124,579 Est. Cost $104.79 Unrealized +78.1%

AAPL APPLE INC 2.2%

Value $20.11M Shares 79,258 Est. Cost $181.52 Unrealized +44.8%

PHYS SPROTT ASSET MANAGEMENT LP 1.6%

Value $14.03M Shares 396,000 Est. Cost $14.05 Unrealized —

XLV SELECT SECTOR SPDR TR 1.0%

Value $9.03M Shares 61,592 Est. Cost $130.57 Unrealized —

KWEB KRANESHARES TRUST 0.2%

Value $2.189M Shares 77,000 Est. Cost $32.36 Unrealized —

SYRE SPYRE THERAPEUTICS INC 0.1%

Value $917K Shares 18,184 Est. Cost $13.78 Unrealized +150.7%

GDX VANECK ETF TRUST 0.5%

Value $4.589M Shares 50,000 Est. Cost $29.27 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.4%

Value $3.798M Shares 7,925 Est. Cost $254.15 Unrealized +94.2%

IBIT ISHARES BITCOIN TRUST ETF 0.0%

Value $443K Shares 11,541 Est. Cost $51.26 Unrealized —

INDA ISHARES TR 0.1%

Value $726K Shares 15,500 Est. Cost $39.08 Unrealized —

EWG ISHARES INC 0.1%

Value $1.329M Shares 33,500 Est. Cost $42.31 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 1.8%

Value $16.11M Shares 298,000 Est. Cost $43.60 Unrealized —

EWU ISHARES TR 0.3%

Value $2.278M Shares 50,000 Est. Cost $31.99 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.3%

Value $3.076M Shares 48,000 Est. Cost $44.82 Unrealized —

PDD PDD HOLDINGS INC 0.1%

Value $650K Shares 6,358 Est. Cost $114.52 Unrealized —

EIRL ISHARES TR 0.1%

Value $1.033M Shares 15,000 Est. Cost $73.53 Unrealized —

APGE APOGEE THERAPEUTICS INC 0.1%

Value $656K Shares 7,797 Est. Cost $43.66 Unrealized +65.4%

GBDC GOLUB CAP BDC INC 0.1%

Value $886K Shares 70,000 Est. Cost $11.53 Unrealized +13.8%

EWA ISHARES INC 0.1%

Value $1.11M Shares 40,000 Est. Cost $23.49 Unrealized —

ENSG ENSIGN GROUP INC 0.1%

Value $455K Shares 2,258 Est. Cost $159.32 Unrealized +18.5%

CQQQ INVESCO EXCH TRADED FD TR II 0.1%

Value $460K Shares 10,000 Est. Cost $55.86 Unrealized —

XLC SELECT SECTOR SPDR TR 0.1%

Value $887K Shares 8,000 Est. Cost $57.71 Unrealized —

JNK SPDR SERIES TRUST 0.4%

Value $3.403M Shares 35,550 Est. Cost $97.51 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.1%

Value $483K Shares 1,429 Est. Cost $303.71 Unrealized —

URA GLOBAL X FDS 0.0%

Value $387K Shares 8,000 Est. Cost $26.94 Unrealized —

XLI SELECT SECTOR SPDR TR 0.1%

Value $1.051M Shares 6,500 Est. Cost $155.08 Unrealized —

LPX LOUISIANA PAC CORP 0.0%

Value $378K Shares 5,201 Est. Cost $108.76 Unrealized -18.1%

FEZ SPDR INDEX SHS FDS 0.1%

Value $1.065M Shares 17,160 Est. Cost $62.12 Unrealized —

QLTY GMO ETF TRUST 0.1%

Value $579K Shares 16,000 Est. Cost $32.61 Unrealized —

FXI ISHARES TR 0.1%

Value $503K Shares 14,000 Est. Cost $38.29 Unrealized —

ANGL VANECK ETF TRUST 0.2%

Value $1.436M Shares 50,000 Est. Cost $28.70 Unrealized —

HYG ISHARES TR 0.2%

Value $2.125M Shares 26,715 Est. Cost $77.54 Unrealized —

CROX CROCS INC 0.1%

Value $906K Shares 10,915 Est. Cost $90.25 Unrealized -2.3%

SHOC EA SERIES TRUST 0.1%

Value $504K Shares 7,000 Est. Cost $50.52 Unrealized —

EWW ISHARES INC 0.0%

Value $226K Shares 3,000 Est. Cost $68.21 Unrealized —

HUMN ROUNDHILL ETF TRUST 0.0%

Value $275K Shares 9,760 Est. Cost $29.82 Unrealized —

IEI ISHARES TR 0.3%

Value $2.372M Shares 20,000 Est. Cost $117.21 Unrealized —

EWP ISHARES INC 0.2%

Value $1.629M Shares 30,000 Est. Cost $27.59 Unrealized —

SHY ISHARES TR 0.4%

Value $3.303M Shares 40,000 Est. Cost $80.97 Unrealized —

EWL ISHARES INC 0.1%

Value $470K Shares 8,000 Est. Cost $30.96 Unrealized —

EWI ISHARES INC 0.1%

Value $534K Shares 10,000 Est. Cost $31.60 Unrealized —

ECH ISHARES INC 0.1%

Value $557K Shares 14,000 Est. Cost $31.45 Unrealized —

ITA ISHARES TR 0.0%

Value $249K Shares 1,140 Est. Cost $214.91 Unrealized —

EWC ISHARES INC 0.0%

Value $274K Shares 5,000 Est. Cost $32.58 Unrealized —

— PIMCO MUN INCOME FD II 0.1%

Value $487K Shares 64,352 Est. Cost $7.91 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.1%

Value $960K Shares 5,000 Est. Cost $189.70 Unrealized —

— NYLI MACKAY DEFINEDTERM MUNI 0.0%

Value $446K Shares 30,000 Est. Cost $14.79 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	100,042	$28.77M	3.2%	$199.63	+61.9%	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	124,579	$21.73M	2.4%	$104.79	+78.1%	COM	67066G104
AAPL	APPLE INC	79,258	$20.11M	2.2%	$181.52	+44.8%	COM	037833100
PHYS	SPROTT ASSET MANAGEMENT LP	396,000	$14.03M	1.6%	$14.05	—	PHYSICAL GOLD TR	85207H104
XLV	SELECT SECTOR SPDR TR	61,592	$9.03M	1.0%	$130.57	—	STATE STREET HEA	81369Y209
KWEB	KRANESHARES TRUST	77,000	$2.189M	0.2%	$32.36	—	CSI CHI INTERNET	500767306
SYRE	SPYRE THERAPEUTICS INC	18,184	$917K	0.1%	$13.78	+150.7%	COM NEW	00773J202
GDX	VANECK ETF TRUST	50,000	$4.589M	0.5%	$29.27	—	GOLD MINERS ETF	92189F106
BRK/B	BERKSHIRE HATHAWAY INC DEL	7,925	$3.798M	0.4%	$254.15	+94.2%	CL B NEW	084670702
IBIT	ISHARES BITCOIN TRUST ETF	11,541	$443K	0.0%	$51.26	—	SHS BEN INT	46438F101
INDA	ISHARES TR	15,500	$726K	0.1%	$39.08	—	MSCI INDIA ETF	46429B598
EWG	ISHARES INC	33,500	$1.329M	0.1%	$42.31	—	MSCI GERMANY ETF	464286806
VWO	VANGUARD INTL EQUITY INDEX F	298,000	$16.11M	1.8%	$43.60	—	FTSE EMR MKT ETF	922042858
EWU	ISHARES TR	50,000	$2.278M	0.3%	$31.99	—	MSCI UK ETF NEW	46435G334
VEA	VANGUARD TAX-MANAGED FDS	48,000	$3.076M	0.3%	$44.82	—	VAN FTSE DEV MKT	921943858
PDD	PDD HOLDINGS INC	6,358	$650K	0.1%	$114.52	—	SPONSORED ADS	722304102
EIRL	ISHARES TR	15,000	$1.033M	0.1%	$73.53	—	MSCI IRELAND ETF	46429B507
APGE	APOGEE THERAPEUTICS INC	7,797	$656K	0.1%	$43.66	+65.4%	COM	03770N101
GBDC	GOLUB CAP BDC INC	70,000	$886K	0.1%	$11.53	+13.8%	COM	38173M102
EWA	ISHARES INC	40,000	$1.11M	0.1%	$23.49	—	MSCI AUST ETF	464286103
ENSG	ENSIGN GROUP INC	2,258	$455K	0.1%	$159.32	+18.5%	COM	29358P101
CQQQ	INVESCO EXCH TRADED FD TR II	10,000	$460K	0.1%	$55.86	—	CHINA TECHNLGY	46138E800
XLC	SELECT SECTOR SPDR TR	8,000	$887K	0.1%	$57.71	—	STATE STREET COM	81369Y852
JNK	SPDR SERIES TRUST	35,550	$3.403M	0.4%	$97.51	—	STATE STREET SPD	78468R622
TSM	TAIWAN SEMICONDUCTOR MANUFAC	1,429	$483K	0.1%	$303.71	—	SPONSORED ADS	874039100
URA	GLOBAL X FDS	8,000	$387K	0.0%	$26.94	—	GLOBAL X URANIUM	37954Y871
XLI	SELECT SECTOR SPDR TR	6,500	$1.051M	0.1%	$155.08	—	STATE STREET IND	81369Y704
LPX	LOUISIANA PAC CORP	5,201	$378K	0.0%	$108.76	-18.1%	COM	546347105
FEZ	SPDR INDEX SHS FDS	17,160	$1.065M	0.1%	$62.12	—	STATE STREET SPD	78463X202
QLTY	GMO ETF TRUST	16,000	$579K	0.1%	$32.61	—	GMO US QUALITY E	90139K100
FXI	ISHARES TR	14,000	$503K	0.1%	$38.29	—	CHINA LG-CAP ETF	464287184
ANGL	VANECK ETF TRUST	50,000	$1.436M	0.2%	$28.70	—	FALLEN ANGEL HG	92189F437
HYG	ISHARES TR	26,715	$2.125M	0.2%	$77.54	—	IBOXX HI YD ETF	464288513
CROX	CROCS INC	10,915	$906K	0.1%	$90.25	-2.3%	COM	227046109
SHOC	EA SERIES TRUST	7,000	$504K	0.1%	$50.52	—	STRIVE US SEMICO	02072L672
EWW	ISHARES INC	3,000	$226K	0.0%	$68.21	—	MSCI MEXICO ETF	464286822
HUMN	ROUNDHILL ETF TRUST	9,760	$275K	0.0%	$29.82	—	HUMANOID ROBOTIC	77926X650
IEI	ISHARES TR	20,000	$2.372M	0.3%	$117.21	—	3 7 YR TREAS BD	464288661
EWP	ISHARES INC	30,000	$1.629M	0.2%	$27.59	—	MSCI SPAIN ETF	464286764
SHY	ISHARES TR	40,000	$3.303M	0.4%	$80.97	—	1 3 YR TREAS BD	464287457
EWL	ISHARES INC	8,000	$470K	0.1%	$30.96	—	MSCI SWITZERLAND	464286749
EWI	ISHARES INC	10,000	$534K	0.1%	$31.60	—	MSCI ITALY ETF	46434G830
ECH	ISHARES INC	14,000	$557K	0.1%	$31.45	—	MSCI CHILE ETF	464286640
ITA	ISHARES TR	1,140	$249K	0.0%	$214.91	—	US AER DEF ETF	464288760
EWC	ISHARES INC	5,000	$274K	0.0%	$32.58	—	MSCI CDA ETF	464286509
—	PIMCO MUN INCOME FD II	64,352	$487K	0.1%	$7.91	—	COM	72200W106
RSP	INVESCO EXCHANGE TRADED FD T	5,000	$960K	0.1%	$189.70	—	S&P500 EQL WGT	46137V357
—	NYLI MACKAY DEFINEDTERM MUNI	30,000	$446K	0.0%	$14.79	—	COM	56064K100