Guild Investment Management, Inc. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPTS	SPDR SERIES TRUST	155,000	$4,538	3.4%	$29.28	—	STATE STREET SPD	78468R101
GPIX	GOLDMAN SACHS ETF TR	53,890	$2,845	2.1%	$52.80	—	S&P 500 PREMIUM	38149W622
PGR	PROGRESSIVE CORP	9,750	$2,220	1.6%	$212.34	0.0%	COM	743315103
SVOL	SIMPLIFY EXCHANGE TRADED FUN	19,187	$337	0.2%	$17.56	—	VOLATILITY PREM	82889N863
CAT	CATERPILLAR INC	400	$229	0.2%	$555.50	0.0%	COM	149123101
ASML	ASML HOLDING N V	198	$212	0.2%	$1069.86	—	N Y REGISTRY SHS	N07059210
XLK	SELECT SECTOR SPDR TR	1,440	$207	0.2%	$143.97	—	STATE STREET TEC	81369Y803
ABT	ABBOTT LABS	1,609	$202	0.1%	$127.30	0.0%	COM	002824100

Increased Positions (13)

VTIP VANGUARD MALVERN FDS 6.0%

Value ($000) $8,139 (+201.1%) Shares 164,555 (+208.2%) Est. Cost $49.42 Unrealized —

CLIP GLOBAL X FDS 8.4%

Value ($000) $11,294 (+7.7%) Shares 112,465 (+7.7%) Est. Cost $100.37 Unrealized —

FBTC FIDELITY WISE ORIGIN BITCOIN 1.6%

Value ($000) $2,153 (-18.2%) Shares 28,249 (+7.1%) Est. Cost $92.82 Unrealized —

SCHD SCHWAB STRATEGIC TR 3.5%

Value ($000) $4,777 (+9.6%) Shares 174,170 (+9.1%) Est. Cost $27.18 Unrealized —

BIL SPDR SERIES TRUST 7.7%

Value ($000) $10,403 (+3.5%) Shares 113,838 (+3.9%) Est. Cost $91.70 Unrealized —

GNRC GENERAC HLDGS INC 1.4%

Value ($000) $1,919 (-14.3%) Shares 14,070 (+5.2%) Est. Cost $123.93 Unrealized +30.2%

GLIN VANECK ETF TRUST 3.6%

Value ($000) $4,909 (+4.9%) Shares 106,480 (+1.6%) Est. Cost $41.16 Unrealized —

FCAL FIRST TR EXCH TRADED FD III 0.4%

Value ($000) $542 (+39.0%) Shares 11,000 (+37.5%) Est. Cost $49.24 Unrealized —

SIL GLOBAL X FDS 0.3%

Value ($000) $422 (+47.3%) Shares 5,000 (+25.0%) Est. Cost $74.19 Unrealized —

TAXX BONDBLOXX ETF TRUST 0.2%

Value ($000) $280 (+37.4%) Shares 5,500 (+37.5%) Est. Cost $50.97 Unrealized —

SPYI NEOS ETF TRUST 0.3%

Value ($000) $353 (+24.1%) Shares 6,720 (+23.5%) Est. Cost $52.34 Unrealized —

HD HOME DEPOT INC 0.3%

Value ($000) $436 (-7.3%) Shares 1,266 (+9.1%) Est. Cost $265.69 Unrealized +37.2%

HON HONEYWELL INTL INC 0.2%

Value ($000) $276 (-0.3%) Shares 1,416 (+7.6%) Est. Cost $183.90 Unrealized +6.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VTIP	VANGUARD MALVERN FDS	164,555 (+208.2%)	$8,139 (+201.1%)	6.0%	$49.42	—	STRM INFPROIDX	922020805
CLIP	GLOBAL X FDS	112,465 (+7.7%)	$11,294 (+7.7%)	8.4%	$100.37	—	1-3 MONTH T-BILL	37960A438
FBTC	FIDELITY WISE ORIGIN BITCOIN	28,249 (+7.1%)	$2,153 (-18.2%)	1.6%	$92.82	—	SHS	315948109
SCHD	SCHWAB STRATEGIC TR	174,170 (+9.1%)	$4,777 (+9.6%)	3.5%	$27.18	—	US DIVIDEND EQ	808524797
BIL	SPDR SERIES TRUST	113,838 (+3.9%)	$10,403 (+3.5%)	7.7%	$91.70	—	STATE STREET SPD	78468R663
GNRC	GENERAC HLDGS INC	14,070 (+5.2%)	$1,919 (-14.3%)	1.4%	$123.93	+30.2%	COM	368736104
GLIN	VANECK ETF TRUST	106,480 (+1.6%)	$4,909 (+4.9%)	3.6%	$41.16	—	INDIA GROWTH LDR	92189F767
FCAL	FIRST TR EXCH TRADED FD III	11,000 (+37.5%)	$542 (+39.0%)	0.4%	$49.24	—	CALIF MUN INCM	33739P863
SIL	GLOBAL X FDS	5,000 (+25.0%)	$422 (+47.3%)	0.3%	$74.19	—	GLOBAL X SILVER	37954Y848
TAXX	BONDBLOXX ETF TRUST	5,500 (+37.5%)	$280 (+37.4%)	0.2%	$50.97	—	IR M TAXAWARE	09789C721
SPYI	NEOS ETF TRUST	6,720 (+23.5%)	$353 (+24.1%)	0.3%	$52.34	—	NEOS S&P 500 HI	78433H303
HD	HOME DEPOT INC	1,266 (+9.1%)	$436 (-7.3%)	0.3%	$265.69	+37.2%	COM	437076102
HON	HONEYWELL INTL INC	1,416 (+7.6%)	$276 (-0.3%)	0.2%	$183.90	+6.0%	COM	438516106

Exited Positions (9)

ORCL ORACLE CORP 1.7%

Value ($000) $2,234 Shares 7,945 Est. Cost $136.86 Unrealized +73.9%

ETOR ETORO GROUP LTD 1.6%

Value ($000) $2,223 Shares 53,855 Est. Cost $56.62 Unrealized -31.8%

PINS PINTEREST INC 0.9%

Value ($000) $1,240 Shares 38,555 Est. Cost $33.07 Unrealized -13.0%

BTC GRAYSCALE BITCOIN MINI TR ET 0.8%

Value ($000) $1,143 Shares 22,572 Est. Cost $45.31 Unrealized —

DEFT DEFI TECHNOLOGIES INC 0.7%

Value ($000) $951 Shares 450,550 Est. Cost $2.59 Unrealized -40.9%

UNG UNITED STS NAT GAS FD LP 0.5%

Value ($000) $654 Shares 50,000 Est. Cost $13.07 Unrealized —

FBCG FIDELITY COVINGTON TRUST 0.2%

Value ($000) $306 Shares 5,700 Est. Cost $53.66 Unrealized —

IWM ISHARES TR 0.2%

Value ($000) $254 Shares 1,050 Est. Cost $241.96 Unrealized —

PSLV SPROTT ASSET MANAGEMENT LP 0.1%

Value ($000) $165 Shares 10,500 Est. Cost $9.65 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ORCL	ORACLE CORP	7,945	$2,234	1.7%	$136.86	+73.9%	—	68389X105
ETOR	ETORO GROUP LTD	53,855	$2,223	1.6%	$56.62	-31.8%	—	G32089107
PINS	PINTEREST INC	38,555	$1,240	0.9%	$33.07	-13.0%	—	72352L106
BTC	GRAYSCALE BITCOIN MINI TR ET	22,572	$1,143	0.8%	$45.31	—	—	389930207
DEFT	DEFI TECHNOLOGIES INC	450,550	$951	0.7%	$2.59	-40.9%	—	244916102
UNG	UNITED STS NAT GAS FD LP	50,000	$654	0.5%	$13.07	—	—	912318409
FBCG	FIDELITY COVINGTON TRUST	5,700	$306	0.2%	$53.66	—	—	316092352
IWM	ISHARES TR	1,050	$254	0.2%	$241.96	—	—	464287655
PSLV	SPROTT ASSET MANAGEMENT LP	10,500	$165	0.1%	$9.65	—	—	85207K107

Decreased Positions (9)

DELL DELL TECHNOLOGIES INC 4.0%

Value ($000) $5,404 (-12.5%) Shares 42,930 (-1.5%) Est. Cost $109.53 Unrealized +28.5%

GOOG ALPHABET INC 3.3%

Value ($000) $4,418 (+13.3%) Shares 14,080 (-12.1%) Est. Cost $116.86 Unrealized +145.0%

USAR USA RARE EARTH INC 0.4%

Value ($000) $592 (-45.2%) Shares 49,760 (-20.8%) Est. Cost $14.29 Unrealized +33.3%

GDX VANECK ETF TRUST 3.8%

Value ($000) $5,099 (+10.1%) Shares 59,451 (-1.9%) Est. Cost $38.24 Unrealized —

AM ANTERO MIDSTREAM CORP 1.6%

Value ($000) $2,112 (-11.5%) Shares 118,740 (-3.3%) Est. Cost $14.21 Unrealized +24.9%

QQQ INVESCO QQQ TR 0.3%

Value ($000) $409 (-35.1%) Shares 665 (-36.6%) Est. Cost $600.37 Unrealized —

NVDA NVIDIA CORPORATION 6.7%

Value ($000) $8,994 (-1.9%) Shares 48,226 (-1.8%) Est. Cost $95.61 Unrealized +94.7%

RSPG INVESCO EXCHANGE TRADED FD T 3.8%

Value ($000) $5,076 (-2.7%) Shares 63,780 (-2.7%) Est. Cost $79.61 Unrealized —

MLPA GLOBAL X FDS 1.8%

Value ($000) $2,428 (-2.9%) Shares 50,160 (-2.9%) Est. Cost $44.29 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DELL	DELL TECHNOLOGIES INC	42,930 (-1.5%)	$5,404 (-12.5%)	4.0%	$109.53	+28.5%	CL C	24703L202
GOOG	ALPHABET INC	14,080 (-12.1%)	$4,418 (+13.3%)	3.3%	$116.86	+145.0%	CAP STK CL C	02079K107
USAR	USA RARE EARTH INC	49,760 (-20.8%)	$592 (-45.2%)	0.4%	$14.29	+33.3%	COM	91733P107
GDX	VANECK ETF TRUST	59,451 (-1.9%)	$5,099 (+10.1%)	3.8%	$38.24	—	GOLD MINERS ETF	92189F106
AM	ANTERO MIDSTREAM CORP	118,740 (-3.3%)	$2,112 (-11.5%)	1.6%	$14.21	+24.9%	COM	03676B102
QQQ	INVESCO QQQ TR	665 (-36.6%)	$409 (-35.1%)	0.3%	$600.37	—	UNIT SER 1	46090E103
NVDA	NVIDIA CORPORATION	48,226 (-1.8%)	$8,994 (-1.9%)	6.7%	$95.61	+94.7%	COM	67066G104
RSPG	INVESCO EXCHANGE TRADED FD T	63,780 (-2.7%)	$5,076 (-2.7%)	3.8%	$79.61	—	S&P500 EQL ENR	46137V365
MLPA	GLOBAL X FDS	50,160 (-2.9%)	$2,428 (-2.9%)	1.8%	$44.29	—	GLBL X MLP ETF	37954Y343

Unchanged Positions (19)

GBTC GRAYSCALE BITCOIN TRUST ETF 3.4%

Value ($000) $4,602 Shares 67,325 Est. Cost $45.62 Unrealized —

PHYS SPROTT ASSET MANAGEMENT LP 8.9%

Value ($000) $12,014 Shares 363,845 Est. Cost $14.39 Unrealized —

OUNZ VANECK MERK GOLD ETF 4.5%

Value ($000) $6,002 Shares 144,690 Est. Cost $22.15 Unrealized —

GOOGL ALPHABET INC 2.0%

Value ($000) $2,649 Shares 8,464 Est. Cost $120.00 Unrealized +138.0%

AAPL APPLE INC 2.9%

Value ($000) $3,893 Shares 14,321 Est. Cost $98.10 Unrealized +173.5%

MSFT MICROSOFT CORP 2.2%

Value ($000) $2,913 Shares 6,023 Est. Cost $195.04 Unrealized +156.7%

NEE NEXTERA ENERGY INC 1.4%

Value ($000) $1,874 Shares 23,340 Est. Cost $68.59 Unrealized +20.3%

SILJ AMPLIFY ETF TR 0.5%

Value ($000) $660 Shares 23,850 Est. Cost $9.93 Unrealized —

QCOM QUALCOMM INC 2.3%

Value ($000) $3,087 Shares 18,047 Est. Cost $124.90 Unrealized +36.7%

AVGO BROADCOM INC 1.4%

Value ($000) $1,938 Shares 5,600 Est. Cost $146.45 Unrealized +143.8%

AMGN AMGEN INC 0.2%

Value ($000) $249 Shares 762 Est. Cost $287.24 Unrealized +10.0%

TRX TRX GOLD CORPORATION 0.0%

Value ($000) $62 Shares 66,900 Est. Cost $0.32 Unrealized +135.2%

MRVL MARVELL TECHNOLOGY INC 0.8%

Value ($000) $1,126 Shares 13,250 Est. Cost $62.28 Unrealized +40.4%

NXST NEXSTAR MEDIA GROUP INC 0.2%

Value ($000) $228 Shares 1,122 Est. Cost $191.37 Unrealized +0.8%

PFXF VANECK ETF TRUST 0.6%

Value ($000) $788 Shares 44,630 Est. Cost $17.29 Unrealized —

MDY SPDR S&P MIDCAP 400 ETF TR 0.2%

Value ($000) $205 Shares 340 Est. Cost $596.03 Unrealized —

SGOV ISHARES TR 0.3%

Value ($000) $391 Shares 3,900 Est. Cost $100.70 Unrealized —

SVACU SPRING VY ACQUISITION CORP I 0.1%

Value ($000) $179 Shares 17,400 Est. Cost $10.28 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.6%

Value ($000) $765 Shares 1,522 Est. Cost $256.41 Unrealized +94.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GBTC	GRAYSCALE BITCOIN TRUST ETF	67,325	$4,602	3.4%	$45.62	—	SHS REP COM UT	389637109
PHYS	SPROTT ASSET MANAGEMENT LP	363,845	$12,014	8.9%	$14.39	—	PHYSICAL GOLD TR	85207H104
OUNZ	VANECK MERK GOLD ETF	144,690	$6,002	4.5%	$22.15	—	GOLD SHS	921078101
GOOGL	ALPHABET INC	8,464	$2,649	2.0%	$120.00	+138.0%	CAP STK CL A	02079K305
AAPL	APPLE INC	14,321	$3,893	2.9%	$98.10	+173.5%	COM	037833100
MSFT	MICROSOFT CORP	6,023	$2,913	2.2%	$195.04	+156.7%	COM	594918104
NEE	NEXTERA ENERGY INC	23,340	$1,874	1.4%	$68.59	+20.3%	COM	65339F101
SILJ	AMPLIFY ETF TR	23,850	$660	0.5%	$9.93	—	AMPLIFY JUNIOR S	032108649
QCOM	QUALCOMM INC	18,047	$3,087	2.3%	$124.90	+36.7%	COM	747525103
AVGO	BROADCOM INC	5,600	$1,938	1.4%	$146.45	+143.8%	COM	11135F101
AMGN	AMGEN INC	762	$249	0.2%	$287.24	+10.0%	COM	031162100
TRX	TRX GOLD CORPORATION	66,900	$62	0.0%	$0.32	+135.2%	COM	87283P109
MRVL	MARVELL TECHNOLOGY INC	13,250	$1,126	0.8%	$62.28	+40.4%	COM	573874104
NXST	NEXSTAR MEDIA GROUP INC	1,122	$228	0.2%	$191.37	+0.8%	COMMON STOCK	65336K103
PFXF	VANECK ETF TRUST	44,630	$788	0.6%	$17.29	—	PREFERRED SECURT	92189F429
MDY	SPDR S&P MIDCAP 400 ETF TR	340	$205	0.2%	$596.03	—	UTSER1 S&PDCRP	78467Y107
SGOV	ISHARES TR	3,900	$391	0.3%	$100.70	—	0-3 MNTH TREASRY	46436E718
SVACU	SPRING VY ACQUISITION CORP I	17,400	$179	0.1%	$10.28	—	UNIT 09/04/2030	G8377R127
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,522	$765	0.6%	$256.41	+94.0%	CL B NEW	084670702