Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	17,828	$11.65M	1.7%	—	—	CORE S&P500 ETF	464287200
IEF	ISHARES TR	105,503	$10.07M	1.5%	—	—	7-10 YR TRSY BD	464287440
IAU	ISHARES GOLD TR	92,812	$8.182M	1.2%	—	—	ISHARES NEW	464285204
VCIT	VANGUARD SCOTTSDALE FDS	80,829	$6.689M	1.0%	—	—	INT-TERM CORP	92206C870
IEI	ISHARES TR	47,889	$5.68M	0.8%	—	—	3 7 YR TREAS BD	464288661
HYS	PIMCO ETF TR	46,758	$4.361M	0.6%	—	—	0-5 HIGH YIELD	72201R783
BINC	BLACKROCK ETF TRUST II	68,548	$3.56M	0.5%	—	—	ISHARES FLEXIBLE	092528603
IJR	ISHARES TR	23,935	$2.975M	0.4%	—	—	PUT	464287804
IGEB	ISHARES TR	63,720	$2.871M	0.4%	—	—	INVESTMENT GRADE	46435G219
PBR/A	PETROLEO BRASILEIRO S A	144,590	$2.711M	0.4%	—	—	SP ADR NON VTG	71654V101
VOO	VANGUARD INDEX FDS	1,614	$965K	0.1%	—	—	S&P 500 ETF SHS	922908363
QQQ	INVESCO QQQ TR	896	$517K	0.1%	—	—	UNIT SER 1	46090E103
SHY	ISHARES TR	6,197	$512K	0.1%	—	—	1 3 YR TREAS BD	464287457
VTI	VANGUARD INDEX FDS	1,552	$498K	0.1%	—	—	TOTAL STK MKT	922908769
AGG	ISHARES TR	4,917	$488K	0.1%	—	—	CORE US AGGBD ET	464287226
GGB	GERDAU SA	134,136	$484K	0.1%	—	—	SPON ADR REP PFD	373737105
CMDT	PIMCO ETF TR	10,670	$344K	0.0%	—	—	COMMODITY STRAT	72201R593
ACWX	ISHARES TR	4,068	$279K	0.0%	—	—	MSCI ACWI EX US	464288240
MUB	ISHARES TR	2,398	$255K	0.0%	—	—	NATIONAL MUN ETF	464288414
META	META PLATFORMS INC	354	$203K	0.0%	—	—	CL A	30303M102
MLKN	MILLERKNOLL INC	11,754	$172K	0.0%	—	—	COM	600544100
SID	COMPANHIA SIDERURGICA NACION	23,352	$28,956	0.0%	—	—	SPONSORED ADR	20440W105

Increased Positions (7)

RSP INVESCO EXCHANGE TRADED FD T 1.4%

Value $9.387M (+4.6%) Shares 48,912 (+4.4%) Est. Cost — Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.4%

Value $2.971M (+15.6%) Shares 46,366 (+12.7%) Est. Cost — Unrealized —

FPE FIRST TR EXCH TRADED FD III 0.8%

Value $5.589M (+6.8%) Shares 314,874 (+9.7%) Est. Cost — Unrealized —

EMB ISHARES TR 0.7%

Value $5.148M (+4.3%) Shares 54,811 (+6.9%) Est. Cost — Unrealized —

JPIE J P MORGAN EXCHANGE TRADED F 1.0%

Value $6.699M (+2.3%) Shares 145,400 (+3.3%) Est. Cost — Unrealized —

PFXF VANECK ETF TRUST 0.4%

Value $3.095M (+4.8%) Shares 176,444 (+5.6%) Est. Cost — Unrealized —

IXN ISHARES TR 0.5%

Value $3.596M (-1.9%) Shares 35,972 (+3.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RSP	INVESCO EXCHANGE TRADED FD T	48,912 (+4.4%)	$9.387M (+4.6%)	1.4%	—	—	S&P500 EQL WGT	46137V357
VEA	VANGUARD TAX-MANAGED FDS	46,366 (+12.7%)	$2.971M (+15.6%)	0.4%	—	—	VAN FTSE DEV MKT	921943858
FPE	FIRST TR EXCH TRADED FD III	314,874 (+9.7%)	$5.589M (+6.8%)	0.8%	—	—	PFD SECS INC ETF	33739E108
EMB	ISHARES TR	54,811 (+6.9%)	$5.148M (+4.3%)	0.7%	—	—	JPMORGAN USD EMG	464288281
JPIE	J P MORGAN EXCHANGE TRADED F	145,400 (+3.3%)	$6.699M (+2.3%)	1.0%	—	—	INCOME ETF	46641Q159
PFXF	VANECK ETF TRUST	176,444 (+5.6%)	$3.095M (+4.8%)	0.4%	—	—	PREFERRED SECURT	92189F429
IXN	ISHARES TR	35,972 (+3.1%)	$3.596M (-1.9%)	0.5%	—	—	GLOBAL TECH ETF	464287291

Exited Positions (3)

HOOD ROBINHOOD MKTS INC 0.0%

Value $280K Shares 2,475 Est. Cost — Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.0%

Value $232K Shares 782 Est. Cost — Unrealized —

MGK VANGUARD WORLD FD 0.0%

Value $229K Shares 554 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HOOD	ROBINHOOD MKTS INC	2,475	$280K	0.0%	—	—	—	770700102
IBM	INTERNATIONAL BUSINESS MACHS	782	$232K	0.0%	—	—	—	459200101
MGK	VANGUARD WORLD FD	554	$229K	0.0%	—	—	—	921910816

Decreased Positions (7)

NU NU HLDGS LTD 74.5%

Value $514M (-15.2%) Shares 35,756,097 (-1.2%) Est. Cost — Unrealized —

VALE VALE S A 1.4%

Value $9.968M (-45.3%) Shares 626,504 (-54.4%) Est. Cost — Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.1%

Value $726K (-61.3%) Shares 1,113 (-59.4%) Est. Cost — Unrealized —

PBR PETROLEO BRASILEIRO S A 1.0%

Value $6.598M (-14.5%) Shares 317,988 (-49.7%) Est. Cost — Unrealized —

HELO J P MORGAN EXCHANGE TRADED F 0.3%

Value $2.212M (-19.8%) Shares 34,605 (-16.6%) Est. Cost — Unrealized —

BBD BANCO BRADESCO S A 1.1%

Value $7.587M (-5.6%) Shares 1,977,980 (-12.2%) Est. Cost — Unrealized —

JBS JBS N.V. 0.1%

Value $844K (-17.9%) Shares 47,000 (-34.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NU	NU HLDGS LTD	35,756,097 (-1.2%)	$514M (-15.2%)	74.5%	—	—	ORD SHS CL A	G6683N103
VALE	VALE S A	626,504 (-54.4%)	$9.968M (-45.3%)	1.4%	—	—	SPONSORED ADS	91912E105
SPY	STATE STR SPDR S&P 500 ETF T	1,113 (-59.4%)	$726K (-61.3%)	0.1%	—	—	TR UNIT	78462F103
PBR	PETROLEO BRASILEIRO S A	317,988 (-49.7%)	$6.598M (-14.5%)	1.0%	—	—	SPONSORED ADR	71654V408
HELO	J P MORGAN EXCHANGE TRADED F	34,605 (-16.6%)	$2.212M (-19.8%)	0.3%	—	—	HEDGED EQUITY LA	46654Q724
BBD	BANCO BRADESCO S A	1,977,980 (-12.2%)	$7.587M (-5.6%)	1.1%	—	—	SP ADR PFD NEW	059460303
JBS	JBS N.V.	47,000 (-34.1%)	$844K (-17.9%)	0.1%	—	—	CL A SHS	N4732M103

Unchanged Positions (17)

EMXC ISHARES INC 1.2%

Value $7.96M Shares 101,198 Est. Cost — Unrealized —

INDA ISHARES TR 0.2%

Value $1.453M Shares 31,015 Est. Cost — Unrealized —

EWJ ISHARES INC 0.6%

Value $4.284M Shares 50,733 Est. Cost — Unrealized —

ACWI ISHARES TR 1.2%

Value $8.043M Shares 58,124 Est. Cost — Unrealized —

VWOB VANGUARD WHITEHALL FDS 0.9%

Value $6.218M Shares 94,657 Est. Cost — Unrealized —

EEM ISHARES TR 0.5%

Value $3.738M Shares 65,815 Est. Cost — Unrealized —

AAXJ ISHARES TR 0.3%

Value $2.38M Shares 24,720 Est. Cost — Unrealized —

QUAL ISHARES TR 0.3%

Value $2.29M Shares 11,937 Est. Cost — Unrealized —

NZAC SPDR INDEX SHS FDS 0.1%

Value $954K Shares 23,470 Est. Cost — Unrealized —

IEUR ISHARES TR 0.7%

Value $4.619M Shares 65,726 Est. Cost — Unrealized —

SHYG ISHARES TR 0.6%

Value $4.108M Shares 97,092 Est. Cost — Unrealized —

VGK VANGUARD INTL EQUITY INDEX F 0.0%

Value $243K Shares 2,951 Est. Cost — Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value $519K Shares 9,604 Est. Cost — Unrealized —

SPSB SPDR SERIES TRUST 0.0%

Value $334K Shares 11,115 Est. Cost — Unrealized —

JPST J P MORGAN EXCHANGE TRADED F 0.1%

Value $418K Shares 8,262 Est. Cost — Unrealized —

FLOT ISHARES TR 0.1%

Value $510K Shares 10,006 Est. Cost — Unrealized —

JAAA JANUS DETROIT STR TR 0.0%

Value $232K Shares 4,585 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EMXC	ISHARES INC	101,198	$7.96M	1.2%	—	—	MSCI EMRG CHN	46434G764
INDA	ISHARES TR	31,015	$1.453M	0.2%	—	—	MSCI INDIA ETF	46429B598
EWJ	ISHARES INC	50,733	$4.284M	0.6%	—	—	MSCI JAPAN ETF	46434G822
ACWI	ISHARES TR	58,124	$8.043M	1.2%	—	—	MSCI ACWI ETF	464288257
VWOB	VANGUARD WHITEHALL FDS	94,657	$6.218M	0.9%	—	—	EM MK GOV BD ETF	921946885
EEM	ISHARES TR	65,815	$3.738M	0.5%	—	—	MSCI EMG MKT ETF	464287234
AAXJ	ISHARES TR	24,720	$2.38M	0.3%	—	—	MSCI AC ASIA ETF	464288182
QUAL	ISHARES TR	11,937	$2.29M	0.3%	—	—	MSCI USA QLT FCT	46432F339
NZAC	SPDR INDEX SHS FDS	23,470	$954K	0.1%	—	—	SST SPDR MSCI	78463X194
IEUR	ISHARES TR	65,726	$4.619M	0.7%	—	—	CORE MSCI EURO	46434V738
SHYG	ISHARES TR	97,092	$4.108M	0.6%	—	—	0-5YR HI YL CP	46434V407
VGK	VANGUARD INTL EQUITY INDEX F	2,951	$243K	0.0%	—	—	FTSE EUROPE ETF	922042874
VWO	VANGUARD INTL EQUITY INDEX F	9,604	$519K	0.1%	—	—	FTSE EMR MKT ETF	922042858
SPSB	SPDR SERIES TRUST	11,115	$334K	0.0%	—	—	STATE STREET SPD	78464A474
JPST	J P MORGAN EXCHANGE TRADED F	8,262	$418K	0.1%	—	—	ULTRA SHRT ETF	46641Q837
FLOT	ISHARES TR	10,006	$510K	0.1%	—	—	FLTG RATE NT ETF	46429B655
JAAA	JANUS DETROIT STR TR	4,585	$232K	0.0%	—	—	HENDRSON AAA CL	47103U845