Climber Capital SA Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FTGC	First Trust Global Tactical Commodity Strategy Fund	144,878	$3,463	2.3%	$23.15	—	—	33739H101
QEMM	SPDR MSCI Emerging Markets StrategicFactors ETF	4,470	$280	0.2%	$62.69	—	—	78463X426
MDLZ	Mondelez International Inc	3,775	$253	0.2%	$59.75	-4.5%	—	609207105
CSCO	Cisco Systems Inc	3,655	$252	0.2%	$60.38	+22.2%	—	17275R102
FALN	iShares Fallen Angels USD Bond ETF	9,090	$245	0.2%	$26.69	—	—	46435G474
CVX	Chevron Corporation	1,696	$242	0.2%	$137.00	+10.5%	—	166764100
UNH	Unitedhealth Group Inc	767	$238	0.2%	$374.94	-10.1%	—	91324P102
CB	Chubb Limited	789	$227	0.1%	$281.36	+3.9%	—	H1467J104
ALC	Alcon Inc.	2,337	$206	0.1%	$89.55	-14.0%	—	H01301128

Decreased Positions (36)

GLD SPDR Gold Trust 10.0%

Value ($000) $15,390 (+25.1%) Shares 41,731 (-3.9%) Est. Cost $226.14 Unrealized —

SHV iShares Short Treasury Bond ETF 4.8%

Value ($000) $7,319 (-16.9%) Shares 86,610 (-13.6%) Est. Cost $91.57 Unrealized —

GOOGL Alphabet Inc 2.5%

Value ($000) $3,859 (+60.7%) Shares 12,344 (-9.9%) Est. Cost $174.14 Unrealized +64.0%

RING iShares MSCI Global Gold Miners ETF 2.1%

Value ($000) $3,268 (+53.7%) Shares 59,525 (-7.1%) Est. Cost $21.39 Unrealized —

VOO Vanguard S&P 500 ETF 10.5%

Value ($000) $16,183 (+7.2%) Shares 26,336 (-3.3%) Est. Cost $526.72 Unrealized —

VCSH Vanguard Short-Term Corporate Bond ETF 3.3%

Value ($000) $5,141 (-14.2%) Shares 86,320 (-11.5%) Est. Cost $57.26 Unrealized —

SPSB SPDR Portfolio Short Term Corporate Bond ETF 4.9%

Value ($000) $7,491 (-9.7%) Shares 251,969 (-9.9%) Est. Cost $29.20 Unrealized —

SPY SPDR S&P 500 ETF Trust 2.6%

Value ($000) $4,019 (-15.2%) Shares 5,900 (-23.5%) Est. Cost $585.47 Unrealized —

VGSH Vanguard Short-Term Treasury ETF 3.3%

Value ($000) $5,124 (-9.6%) Shares 87,347 (-9.9%) Est. Cost $51.71 Unrealized —

AAPL Apple Inc 1.6%

Value ($000) $2,428 (+28.9%) Shares 8,942 (-3.1%) Est. Cost $234.51 Unrealized +14.4%

BIL SPDR Bloomberg 1-3 Month T-Bill ETF 2.4%

Value ($000) $3,639 (-12.4%) Shares 68,110 (-7.7%) Est. Cost $60.19 Unrealized —

RSPT Invesco S&P 500 Equal Weight Technology ETF 3.4%

Value ($000) $5,279 (-8.4%) Shares 123,730 (-17.3%) Est. Cost $35.67 Unrealized —

SPTI SPDR Portfolio Intermediate Term Treasury ETF 3.0%

Value ($000) $4,551 (-8.8%) Shares 157,997 (-9.4%) Est. Cost $25.03 Unrealized —

EWU iShares MSCI United Kingdom ETF 0.2%

Value ($000) $296 (-59.4%) Shares 6,750 (-63.4%) Est. Cost $33.92 Unrealized —

VEA Vanguard FTSE Developed Markets ETF 3.5%

Value ($000) $5,347 (+6.2%) Shares 85,690 (-3.5%) Est. Cost $47.26 Unrealized —

SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF 2.5%

Value ($000) $3,788 (-7.6%) Shares 112,185 (-8.6%) Est. Cost $29.05 Unrealized —

AAXJ iShares MSCI All Country Asia ex Japan ETF 1.4%

Value ($000) $2,199 (-6.1%) Shares 29,490 (-9.7%) Est. Cost $63.13 Unrealized —

BKNG Booking Holdings Inc 0.2%

Value ($000) $262 (-28.9%) Shares 49 (-23.4%) Est. Cost $4764.13 Unrealized +7.8%

EZU iShares MSCI Eurozone ETF 3.0%

Value ($000) $4,566 (+2.2%) Shares 86,238 (-1.7%) Est. Cost $40.67 Unrealized —

MSFT Microsoft Corp 0.4%

Value ($000) $647 (-13.1%) Shares 1,339 (-11.0%) Est. Cost $422.35 Unrealized +18.5%

IWR iShares Russell Mid-Cap ETF 1.3%

Value ($000) $1,924 (-4.6%) Shares 21,152 (-8.8%) Est. Cost $82.92 Unrealized —

FEZ SPDR EURO STOXX 50 ETF 2.2%

Value ($000) $3,419 (+2.6%) Shares 62,849 (-4.5%) Est. Cost $40.98 Unrealized —

QLTA iShares Aaa - A Rated Corporate Bond ETF 2.9%

Value ($000) $4,435 (-1.7%) Shares 116,807 (-2.1%) Est. Cost $36.55 Unrealized —

MA Mastercard Inc 0.2%

Value ($000) $233 (-21.9%) Shares 409 (-23.4%) Est. Cost $514.68 Unrealized +8.6%

KO Coca-Cola Co 0.2%

Value ($000) $233 (-21.0%) Shares 3,332 (-20.4%) Est. Cost $63.25 Unrealized +9.7%

IWV iShares Russell 3000 ETF 0.5%

Value ($000) $695 (+8.6%) Shares 1,800 (-1.9%) Est. Cost $333.90 Unrealized —

JNJ Johnson & Johnson 0.3%

Value ($000) $421 (+14.6%) Shares 2,038 (-15.8%) Est. Cost $149.83 Unrealized +31.5%

BRK/B Berkshire Hathaway Inc 0.2%

Value ($000) $379 (-10.8%) Shares 754 (-14.1%) Est. Cost $461.73 Unrealized +7.8%

QQQ Invesco QQQ Trust Series I 0.4%

Value ($000) $685 (+2.8%) Shares 1,117 (-8.1%) Est. Cost $519.28 Unrealized —

GOOG Alphabet Inc 0.2%

Value ($000) $311 (+5.9%) Shares 991 (-40.4%) Est. Cost $175.67 Unrealized +63.0%

EWJ iShares MSCI Japan ETF 0.4%

Value ($000) $589 (-2.8%) Shares 7,107 (-12.4%) Est. Cost $66.88 Unrealized —

MXI iShares Global Materials ETF 0.4%

Value ($000) $543 (+2.2%) Shares 6,048 (-3.2%) Est. Cost $70.19 Unrealized —

AMZN Amazon.com Inc 0.2%

Value ($000) $249 (+3.5%) Shares 1,078 (-2.1%) Est. Cost $197.89 Unrealized +15.6%

ITOT iShares Core S&P Total U.S. Stock Market ETF 2.6%

Value ($000) $3,939 (+0.1%) Shares 32,482 (-7.9%) Est. Cost $105.52 Unrealized —

SCHA Schwab US Small Cap ETF 0.9%

Value ($000) $1,335 (+0.3%) Shares 49,594 (-10.8%) Est. Cost $24.00 Unrealized —

VWO Vanguard FTSE Emerging Markets ETF 1.4%

Value ($000) $2,162 (+0.1%) Shares 41,435 (-8.0%) Est. Cost $42.40 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR Gold Trust	41,731 (-3.9%)	$15,390 (+25.1%)	10.0%	$226.14	—	Commodity ETF	78463V107
SHV	iShares Short Treasury Bond ETF	86,610 (-13.6%)	$7,319 (-16.9%)	4.8%	$91.57	—	Bond ETF	464288679
GOOGL	Alphabet Inc	12,344 (-9.9%)	$3,859 (+60.7%)	2.5%	$174.14	+64.0%	Ordinary Share	02079K305
RING	iShares MSCI Global Gold Miners ETF	59,525 (-7.1%)	$3,268 (+53.7%)	2.1%	$21.39	—	Equity ETF	46434G855
VOO	Vanguard S&P 500 ETF	26,336 (-3.3%)	$16,183 (+7.2%)	10.5%	$526.72	—	Equity ETF	922908363
VCSH	Vanguard Short-Term Corporate Bond ETF	86,320 (-11.5%)	$5,141 (-14.2%)	3.3%	$57.26	—	Bond ETF	92206C409
SPSB	SPDR Portfolio Short Term Corporate Bond ETF	251,969 (-9.9%)	$7,491 (-9.7%)	4.9%	$29.20	—	Bond ETF	78464A474
SPY	SPDR S&P 500 ETF Trust	5,900 (-23.5%)	$4,019 (-15.2%)	2.6%	$585.47	—	Equity ETF	78462F103
VGSH	Vanguard Short-Term Treasury ETF	87,347 (-9.9%)	$5,124 (-9.6%)	3.3%	$51.71	—	Bond ETF	92206C102
AAPL	Apple Inc	8,942 (-3.1%)	$2,428 (+28.9%)	1.6%	$234.51	+14.4%	Ordinary Share	037833100
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	68,110 (-7.7%)	$3,639 (-12.4%)	2.4%	$60.19	—	Bond ETF	78468R663
RSPT	Invesco S&P 500 Equal Weight Technology ETF	123,730 (-17.3%)	$5,279 (-8.4%)	3.4%	$35.67	—	Equity ETF	46137V282
SPTI	SPDR Portfolio Intermediate Term Treasury ETF	157,997 (-9.4%)	$4,551 (-8.8%)	3.0%	$25.03	—	Bond ETF	78464A672
EWU	iShares MSCI United Kingdom ETF	6,750 (-63.4%)	$296 (-59.4%)	0.2%	$33.92	—	Equity ETF	46435G334
VEA	Vanguard FTSE Developed Markets ETF	85,690 (-3.5%)	$5,347 (+6.2%)	3.5%	$47.26	—	Equity ETF	921943858
SPIB	SPDR Portfolio Intermediate Term Corporate Bond ETF	112,185 (-8.6%)	$3,788 (-7.6%)	2.5%	$29.05	—	Bond ETF	78464A375
AAXJ	iShares MSCI All Country Asia ex Japan ETF	29,490 (-9.7%)	$2,199 (-6.1%)	1.4%	$63.13	—	Equity ETF	464288182
BKNG	Booking Holdings Inc	49 (-23.4%)	$262 (-28.9%)	0.2%	$4764.13	+7.8%	Ordinary Share	09857L108
EZU	iShares MSCI Eurozone ETF	86,238 (-1.7%)	$4,566 (+2.2%)	3.0%	$40.67	—	Equity ETF	464286608
MSFT	Microsoft Corp	1,339 (-11.0%)	$647 (-13.1%)	0.4%	$422.35	+18.5%	Ordinary Share	594918104
IWR	iShares Russell Mid-Cap ETF	21,152 (-8.8%)	$1,924 (-4.6%)	1.3%	$82.92	—	Equity ETF	464287499
FEZ	SPDR EURO STOXX 50 ETF	62,849 (-4.5%)	$3,419 (+2.6%)	2.2%	$40.98	—	Equity ETF	78463X202
QLTA	iShares Aaa - A Rated Corporate Bond ETF	116,807 (-2.1%)	$4,435 (-1.7%)	2.9%	$36.55	—	Bond ETF	46429B291
MA	Mastercard Inc	409 (-23.4%)	$233 (-21.9%)	0.2%	$514.68	+8.6%	Ordinary Share	57636Q104
KO	Coca-Cola Co	3,332 (-20.4%)	$233 (-21.0%)	0.2%	$63.25	+9.7%	Ordinary Share	191216100
IWV	iShares Russell 3000 ETF	1,800 (-1.9%)	$695 (+8.6%)	0.5%	$333.90	—	Equity ETF	464287689
JNJ	Johnson & Johnson	2,038 (-15.8%)	$421 (+14.6%)	0.3%	$149.83	+31.5%	Ordinary Share	478160104
BRK/B	Berkshire Hathaway Inc	754 (-14.1%)	$379 (-10.8%)	0.2%	$461.73	+7.8%	Ordinary Share	084670702
QQQ	Invesco QQQ Trust Series I	1,117 (-8.1%)	$685 (+2.8%)	0.4%	$519.28	—	Equity ETF	46090E103
GOOG	Alphabet Inc	991 (-40.4%)	$311 (+5.9%)	0.2%	$175.67	+63.0%	Ordinary Share	02079K107
EWJ	iShares MSCI Japan ETF	7,107 (-12.4%)	$589 (-2.8%)	0.4%	$66.88	—	Equity ETF	46434G822
MXI	iShares Global Materials ETF	6,048 (-3.2%)	$543 (+2.2%)	0.4%	$70.19	—	Equity ETF	464288695
AMZN	Amazon.com Inc	1,078 (-2.1%)	$249 (+3.5%)	0.2%	$197.89	+15.6%	Ordinary Share	023135106
ITOT	iShares Core S&P Total U.S. Stock Market ETF	32,482 (-7.9%)	$3,939 (+0.1%)	2.6%	$105.52	—	Equity ETF	464287150
SCHA	Schwab US Small Cap ETF	49,594 (-10.8%)	$1,335 (+0.3%)	0.9%	$24.00	—	Equity ETF	808524607
VWO	Vanguard FTSE Emerging Markets ETF	41,435 (-8.0%)	$2,162 (+0.1%)	1.4%	$42.40	—	Equity ETF	922042858

Unchanged Positions (20)

VYM Vanguard High Dividend Yield ETF 3.0%

Value ($000) $4,664 Shares 33,793 Est. Cost $121.54 Unrealized —

IYH iShares US Healthcare ETF 0.9%

Value ($000) $1,371 Shares 26,429 Est. Cost $45.34 Unrealized —

SDY SPDR S&P Dividend ETF 4.1%

Value ($000) $6,301 Shares 46,537 Est. Cost $125.13 Unrealized —

SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 1.2%

Value ($000) $1,778 Shares 21,575 Est. Cost $71.36 Unrealized —

EWL iShares MSCI Switzerland ETF 2.2%

Value ($000) $3,434 Shares 61,151 Est. Cost $45.96 Unrealized —

NVDA NVIDIA Corp 0.3%

Value ($000) $515 Shares 2,766 Est. Cost $137.79 Unrealized +35.1%

XLP SPDR Consumers Staples Select Sector ETF 1.3%

Value ($000) $2,071 Shares 26,693 Est. Cost $72.29 Unrealized —

IXC iShares Global Energy ETF 0.6%

Value ($000) $910 Shares 21,498 Est. Cost $38.02 Unrealized —

PG Procter & Gamble Co 0.3%

Value ($000) $458 Shares 3,200 Est. Cost $165.73 Unrealized -11.2%

HDV iShares Core High Dividend ETF 0.5%

Value ($000) $790 Shares 6,500 Est. Cost $112.14 Unrealized —

FSZ First Trust Exchange-Traded AlphaDEX Fund II 0.4%

Value ($000) $651 Shares 8,140 Est. Cost $62.67 Unrealized —

GMF SPDR S&P Emerging Asia Pacific ETF 0.2%

Value ($000) $341 Shares 2,460 Est. Cost $115.44 Unrealized —

EFA iShares MSCI EAFE ETF 0.3%

Value ($000) $477 Shares 5,070 Est. Cost $75.49 Unrealized —

FCAL First Trust California Municipal High Income ETF 0.5%

Value ($000) $721 Shares 14,635 Est. Cost $42.44 Unrealized —

CMF iShares California Muni Bond USD 0.5%

Value ($000) $724 Shares 12,660 Est. Cost $48.53 Unrealized —

PWZ Invesco California AMT-Free Municipal Bond ETF 0.3%

Value ($000) $396 Shares 16,395 Est. Cost $24.67 Unrealized —

PICB Invesco International Corporate Bond ETF 0.9%

Value ($000) $1,365 Shares 57,215 Est. Cost $21.56 Unrealized —

VTEC Vanguard California Tax-Exempt 0.2%

Value ($000) $311 Shares 3,110 Est. Cost $85.54 Unrealized —

VNQI Vanguard Global ex-US Real Est 0.6%

Value ($000) $884 Shares 19,300 Est. Cost $36.16 Unrealized —

V Visa Inc 0.1%

Value ($000) $229 Shares 655 Est. Cost $346.99 Unrealized -1.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VYM	Vanguard High Dividend Yield ETF	33,793	$4,664	3.0%	$121.54	—	Equity ETF	921946406
IYH	iShares US Healthcare ETF	26,429	$1,371	0.9%	$45.34	—	Equity ETF	464287762
SDY	SPDR S&P Dividend ETF	46,537	$6,301	4.1%	$125.13	—	Equity ETF	78464A763
SPTM	SPDR Portfolio S&P 1500 Composite Stock Market ETF	21,575	$1,778	1.2%	$71.36	—	Equity ETF	78464A805
EWL	iShares MSCI Switzerland ETF	61,151	$3,434	2.2%	$45.96	—	Equity ETF	464286749
NVDA	NVIDIA Corp	2,766	$515	0.3%	$137.79	+35.1%	Ordinary Share	67066G104
XLP	SPDR Consumers Staples Select Sector ETF	26,693	$2,071	1.3%	$72.29	—	Equity ETF	81369Y308
IXC	iShares Global Energy ETF	21,498	$910	0.6%	$38.02	—	Equity ETF	464287341
PG	Procter & Gamble Co	3,200	$458	0.3%	$165.73	-11.2%	Ordinary Share	742718109
HDV	iShares Core High Dividend ETF	6,500	$790	0.5%	$112.14	—	Equity ETF	46429B663
FSZ	First Trust Exchange-Traded AlphaDEX Fund II	8,140	$651	0.4%	$62.67	—	Equity ETF	33737J232
GMF	SPDR S&P Emerging Asia Pacific ETF	2,460	$341	0.2%	$115.44	—	Equity ETF	78463X301
EFA	iShares MSCI EAFE ETF	5,070	$477	0.3%	$75.49	—	Equity ETF	464287465
FCAL	First Trust California Municipal High Income ETF	14,635	$721	0.5%	$42.44	—	Bond ETF	33739P863
CMF	iShares California Muni Bond USD	12,660	$724	0.5%	$48.53	—	Bond ETF	464288356
PWZ	Invesco California AMT-Free Municipal Bond ETF	16,395	$396	0.3%	$24.67	—	Bond ETF	46138E206
PICB	Invesco International Corporate Bond ETF	57,215	$1,365	0.9%	$21.56	—	Bond ETF	46138E636
VTEC	Vanguard California Tax-Exempt	3,110	$311	0.2%	$85.54	—	Bond ETF	922021605
VNQI	Vanguard Global ex-US Real Est	19,300	$884	0.6%	$36.16	—	Equity ETF	922042676
V	Visa Inc	655	$229	0.1%	$346.99	-1.9%	Ordinary Share	92826C839