Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XLV	SELECT SECTOR SPDR TR	46,903	$7.442M	1.1%	$158.66	—	ST STR CARE ETF	81369Y209
AVUV	AMERICAN CENTY ETF TR	56,400	$7.036M	1.0%	$124.76	—	US SML CP VALU	025072877
SPEM	SPDR INDEX SHS FDS	81,568	$4.224M	0.6%	$51.78	—	ST PORT MARK ETF	78463X509
XLK	SELECT SECTOR SPDR TR	1,868	$356K	0.1%	$190.52	—	ST STR TECHN ETF	81369Y803
AAPL	APPLE INC	1,157	$335K	0.0%	$289.36	—	COM	037833100
XLF	SELECT SECTOR SPDR TR	4,665	$250K	0.0%	$53.61	—	ST STR FINL ETF	81369Y605
IWF	ISHARES TR	1,902	$236K	0.0%	$124.17	—	RUS 1000 GRW ETF	464287614
IBM	INTERNATIONAL BUSINESS MACHS	822	$231K	0.0%	$281.21	—	COM	459200101
XLE	SELECT SECTOR SPDR TR	4,200	$223K	0.0%	$53.11	—	ST STR ENERG ETF	81369Y506
NVDA	NVIDIA CORPORATION	1,050	$210K	0.0%	$200.13	—	COM	67066G104

Increased Positions (11)

IEUR ISHARES TR 1.5%

Value $10.3M (+123.1%) Shares 137,048 (+108.5%) Est. Cost $73.16 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 2.1%

Value $14.88M (+58.5%) Shares 69,932 (+43.0%) Est. Cost $197.95 Unrealized —

IVV ISHARES TR 2.3%

Value $16.06M (+37.9%) Shares 21,441 (+20.3%) Est. Cost $669.32 Unrealized —

FPE FIRST TR EXCH TRADED FD III 1.2%

Value $8.649M (+54.8%) Shares 483,745 (+53.6%) Est. Cost $18.07 Unrealized —

PFXF VANECK ETF TRUST 0.8%

Value $5.886M (+90.2%) Shares 329,960 (+87.0%) Est. Cost $17.74 Unrealized —

IAU ISHARES GOLD TR 1.0%

Value $7.164M (-12.4%) Shares 94,874 (+2.2%) Est. Cost $87.89 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.2%

Value $1.58M (+117.6%) Shares 2,115 (+90.0%) Est. Cost $713.76 Unrealized —

AAXJ ISHARES TR 0.4%

Value $3.086M (+29.7%) Shares 25,862 (+4.6%) Est. Cost $94.28 Unrealized —

QQQ INVESCO QQQ TR 0.1%

Value $826K (+59.8%) Shares 1,122 (+25.2%) Est. Cost $609.28 Unrealized —

VOO VANGUARD INDEX FDS 0.2%

Value $1.175M (+21.8%) Shares 1,711 (+6.0%) Est. Cost $603.04 Unrealized —

HYS PIMCO ETF TR 0.6%

Value $4.514M (+3.5%) Shares 48,270 (+3.2%) Est. Cost $93.28 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IEUR	ISHARES TR	137,048 (+108.5%)	$10.3M (+123.1%)	1.5%	$73.16	—	CORE MSCI EURO	46434V738
RSP	INVESCO EXCHANGE TRADED FD T	69,932 (+43.0%)	$14.88M (+58.5%)	2.1%	$197.95	—	S&P500 EQL WGT	46137V357
IVV	ISHARES TR	21,441 (+20.3%)	$16.06M (+37.9%)	2.3%	$669.32	—	CORE S&P500 ETF	464287200
FPE	FIRST TR EXCH TRADED FD III	483,745 (+53.6%)	$8.649M (+54.8%)	1.2%	$18.07	—	PFD SECS INC ETF	33739E108
PFXF	VANECK ETF TRUST	329,960 (+87.0%)	$5.886M (+90.2%)	0.8%	$17.74	—	PREFERRED SECURT	92189F429
IAU	ISHARES GOLD TR	94,874 (+2.2%)	$7.164M (-12.4%)	1.0%	$87.89	—	ISHARES NEW	464285204
SPY	STATE STR SPDR S&P 500 ETF T	2,115 (+90.0%)	$1.58M (+117.6%)	0.2%	$713.76	—	TR UNIT	78462F103
AAXJ	ISHARES TR	25,862 (+4.6%)	$3.086M (+29.7%)	0.4%	$94.28	—	MSCI AC ASIA ETF	464288182
QQQ	INVESCO QQQ TR	1,122 (+25.2%)	$826K (+59.8%)	0.1%	$609.28	—	UNIT SER 1	46090E103
VOO	VANGUARD INDEX FDS	1,711 (+6.0%)	$1.175M (+21.8%)	0.2%	$603.04	—	S&P 500 ETF SHS	922908363
HYS	PIMCO ETF TR	48,270 (+3.2%)	$4.514M (+3.5%)	0.6%	$93.28	—	0-5 HIGH YIELD	72201R783

Exited Positions (5)

NZAC SPDR INDEX SHS FDS 0.1%

Value $954K Shares 23,470 Est. Cost $42.89 Unrealized —

VTI VANGUARD INDEX FDS 0.1%

Value $498K Shares 1,552 Est. Cost $320.80 Unrealized —

CMDT PIMCO ETF TR 0.0%

Value $344K Shares 10,670 Est. Cost $32.27 Unrealized —

META META PLATFORMS INC 0.0%

Value $203K Shares 354 Est. Cost $655.57 Unrealized —

SID COMPANHIA SIDERURGICA NACION 0.0%

Value $28,956 Shares 23,352 Est. Cost $1.24 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NZAC	SPDR INDEX SHS FDS	23,470	$954K	0.1%	$42.89	—	—	78463X194
VTI	VANGUARD INDEX FDS	1,552	$498K	0.1%	$320.80	—	—	922908769
CMDT	PIMCO ETF TR	10,670	$344K	0.0%	$32.27	—	—	72201R593
META	META PLATFORMS INC	354	$203K	0.0%	$655.57	—	—	30303M102
SID	COMPANHIA SIDERURGICA NACION	23,352	$28,956	0.0%	$1.24	—	—	20440W105

Decreased Positions (4)

VALE VALE S A 1.3%

Value $9.299M (-6.7%) Shares 618,259 (-1.3%) Est. Cost $13.26 Unrealized —

IEI ISHARES TR 0.7%

Value $5.229M (-7.9%) Shares 44,523 (-7.0%) Est. Cost $118.60 Unrealized —

HELO JP MORGAN EXCHANGE TRADED F 0.3%

Value $2.061M (-6.8%) Shares 30,501 (-11.9%) Est. Cost $66.44 Unrealized —

GGB GERDAU SA 0.1%

Value $506K (+4.4%) Shares 125,136 (-6.7%) Est. Cost $3.61 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VALE	VALE S A	618,259 (-1.3%)	$9.299M (-6.7%)	1.3%	$13.26	—	SPONSORED ADS	91912E105
IEI	ISHARES TR	44,523 (-7.0%)	$5.229M (-7.9%)	0.7%	$118.60	—	3 7 YR TREAS BD	464288661
HELO	JP MORGAN EXCHANGE TRADED F	30,501 (-11.9%)	$2.061M (-6.8%)	0.3%	$66.44	—	HEDG EQU LAD ETF	46654Q724
GGB	GERDAU SA	125,136 (-6.7%)	$506K (+4.4%)	0.1%	$3.61	—	SPON ADR REP PFD	373737105

Unchanged Positions (33)

NU NU HLDGS LTD 68.3%

Value $478M Shares 35,783,303 Est. Cost $16.07 Unrealized —

EMXC ISHARES INC 1.5%

Value $10.3M Shares 100,651 Est. Cost $72.68 Unrealized —

IXN ISHARES TR 0.7%

Value $5.198M Shares 35,975 Est. Cost $104.85 Unrealized —

PBR PETROLEO BRASILEIRO S A 0.7%

Value $5.229M Shares 317,988 Est. Cost $12.20 Unrealized —

ACWI ISHARES TR 1.3%

Value $9.152M Shares 58,306 Est. Cost $141.49 Unrealized —

EEM ISHARES TR 0.6%

Value $4.503M Shares 65,817 Est. Cost $54.71 Unrealized —

IJR ISHARES TR 0.5%

Value $3.55M Shares 23,936 Est. Cost $124.31 Unrealized —

PBR/A PETROLEO BRASILEIRO S A 0.3%

Value $2.158M Shares 144,590 Est. Cost $18.75 Unrealized —

EWJ ISHARES INC 0.7%

Value $4.732M Shares 50,733 Est. Cost $80.74 Unrealized —

BBD BANCO BRADESCO S A 1.0%

Value $7.15M Shares 1,977,980 Est. Cost $3.57 Unrealized —

QUAL ISHARES TR 0.4%

Value $2.64M Shares 12,030 Est. Cost $198.62 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.5%

Value $3.304M Shares 46,366 Est. Cost $62.65 Unrealized —

JBS JBS N.V. 0.1%

Value $557K Shares 47,000 Est. Cost $13.74 Unrealized —

VWOB VANGUARD WHITEHALL FDS 0.9%

Value $6.371M Shares 94,745 Est. Cost $67.43 Unrealized —

EMB ISHARES TR 0.8%

Value $5.286M Shares 54,811 Est. Cost $96.13 Unrealized —

IEF ISHARES TR 1.4%

Value $9.981M Shares 105,541 Est. Cost $95.44 Unrealized —

INDA ISHARES TR 0.2%

Value $1.532M Shares 31,015 Est. Cost $54.05 Unrealized —

MLKN MILLERKNOLL INC 0.0%

Value $243K Shares 11,754 Est. Cost $20.46 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value $573K Shares 9,604 Est. Cost $53.76 Unrealized —

ACWX ISHARES TR 0.0%

Value $310K Shares 4,078 Est. Cost $68.47 Unrealized —

BINC BLACKROCK ETF TRUST II 0.5%

Value $3.588M Shares 68,553 Est. Cost $51.93 Unrealized —

SHYG ISHARES TR 0.6%

Value $4.13M Shares 97,387 Est. Cost $42.87 Unrealized —

VGK VANGUARD INTL EQUITY INDEX F 0.0%

Value $261K Shares 2,951 Est. Cost $83.61 Unrealized —

MUB ISHARES TR 0.0%

Value $258K Shares 2,398 Est. Cost $106.15 Unrealized —

IGEB ISHARES TR 0.4%

Value $2.874M Shares 63,720 Est. Cost $45.06 Unrealized —

JPIE JP MORGAN EXCHANGE TRADED F 1.0%

Value $6.696M Shares 145,400 Est. Cost $46.49 Unrealized —

SHY ISHARES TR 0.1%

Value $509K Shares 6,197 Est. Cost $82.57 Unrealized —

AGG ISHARES TR 0.1%

Value $490K Shares 4,955 Est. Cost $99.26 Unrealized —

VCIT VANGUARD SCOTTSDALE FDS 1.0%

Value $6.687M Shares 80,903 Est. Cost $82.75 Unrealized —

FLOT ISHARES TR 0.1%

Value $511K Shares 10,006 Est. Cost $50.86 Unrealized —

SPSB SPDR SERIES TRUST 0.0%

Value $334K Shares 11,115 Est. Cost $30.20 Unrealized —

JAAA JANUS DETROIT STR TR 0.0%

Value $231K Shares 4,585 Est. Cost $50.58 Unrealized —

JPST JP MORGAN EXCHANGE TRADED F 0.1%

Value $418K Shares 8,262 Est. Cost $50.77 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NU	NU HLDGS LTD	35,783,303	$478M	68.3%	$16.07	—	ORD SHS CL A	G6683N103
EMXC	ISHARES INC	100,651	$10.3M	1.5%	$72.68	—	MSCI EMRG CHN	46434G764
IXN	ISHARES TR	35,975	$5.198M	0.7%	$104.85	—	GLOBAL TECH ETF	464287291
PBR	PETROLEO BRASILEIRO S A	317,988	$5.229M	0.7%	$12.20	—	SPONSORED ADR	71654V408
ACWI	ISHARES TR	58,306	$9.152M	1.3%	$141.49	—	MSCI ACWI ETF	464288257
EEM	ISHARES TR	65,817	$4.503M	0.6%	$54.71	—	MSCI EMG MKT ETF	464287234
IJR	ISHARES TR	23,936	$3.55M	0.5%	$124.31	—	CORE S&P SCP ETF	464287804
PBR/A	PETROLEO BRASILEIRO S A	144,590	$2.158M	0.3%	$18.75	—	SP ADR NON VTG	71654V101
EWJ	ISHARES INC	50,733	$4.732M	0.7%	$80.74	—	MSCI JAPAN ETF	46434G822
BBD	BANCO BRADESCO S A	1,977,980	$7.15M	1.0%	$3.57	—	SP ADR PFD NEW	059460303
QUAL	ISHARES TR	12,030	$2.64M	0.4%	$198.62	—	MSCI USA QLT FCT	46432F339
VEA	VANGUARD TAX-MANAGED FDS	46,366	$3.304M	0.5%	$62.65	—	VAN FTSE DEV MKT	921943858
JBS	JBS N.V.	47,000	$557K	0.1%	$13.74	—	CL A SHS	N4732M103
VWOB	VANGUARD WHITEHALL FDS	94,745	$6.371M	0.9%	$67.43	—	EM MK GOV BD ETF	921946885
EMB	ISHARES TR	54,811	$5.286M	0.8%	$96.13	—	JPMORGAN USD EMG	464288281
IEF	ISHARES TR	105,541	$9.981M	1.4%	$95.44	—	7-10 YR TRSY BD	464287440
INDA	ISHARES TR	31,015	$1.532M	0.2%	$54.05	—	MSCI INDIA ETF	46429B598
MLKN	MILLERKNOLL INC	11,754	$243K	0.0%	$20.46	—	COM	600544100
VWO	VANGUARD INTL EQUITY INDEX F	9,604	$573K	0.1%	$53.76	—	FTSE EMR MKT ETF	922042858
ACWX	ISHARES TR	4,078	$310K	0.0%	$68.47	—	MSCI ACWI EX US	464288240
BINC	BLACKROCK ETF TRUST II	68,553	$3.588M	0.5%	$51.93	—	ISHA FLEX IN ETF	092528603
SHYG	ISHARES TR	97,387	$4.13M	0.6%	$42.87	—	0-5YR HI YL CP	46434V407
VGK	VANGUARD INTL EQUITY INDEX F	2,951	$261K	0.0%	$83.61	—	FTSE EUROPE ETF	922042874
MUB	ISHARES TR	2,398	$258K	0.0%	$106.15	—	NATIONAL MUN ETF	464288414
IGEB	ISHARES TR	63,720	$2.874M	0.4%	$45.06	—	INVT GRAD SY ETF	46435G219
JPIE	JP MORGAN EXCHANGE TRADED F	145,400	$6.696M	1.0%	$46.49	—	INCOME ETF	46641Q159
SHY	ISHARES TR	6,197	$509K	0.1%	$82.57	—	1 3 YR TREAS BD	464287457
AGG	ISHARES TR	4,955	$490K	0.1%	$99.26	—	CORE US AGGBD ET	464287226
VCIT	VANGUARD SCOTTSDALE FDS	80,903	$6.687M	1.0%	$82.75	—	INT-TERM CORP	92206C870
FLOT	ISHARES TR	10,006	$511K	0.1%	$50.86	—	FLTG RATE NT ETF	46429B655
SPSB	SPDR SERIES TRUST	11,115	$334K	0.0%	$30.20	—	ST SHOR CORP ETF	78464A474
JAAA	JANUS DETROIT STR TR	4,585	$231K	0.0%	$50.58	—	HENDRSON AAA CL	47103U845
JPST	JP MORGAN EXCHANGE TRADED F	8,262	$418K	0.1%	$50.77	—	ULTRA SHRT ETF	46641Q837