Dorsey Wright & Associates Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
THC	TENET HEALTHCARE CORP COM NEW	54,095	$10,750	2.3%	$202.09	0.0%	COM	88033G407
ROIV	ROIVANT SCIENCES LTD SHS	376,106	$8,162	1.8%	$19.73	0.0%	COM	G76279101
CNX	CNX RESOURCES CORPORATION COM	149,522	$5,498	1.2%	$35.81	0.0%	COM	12653C108
FTI	TECHNIPFMC PLC COM	122,678	$5,467	1.2%	$42.20	0.0%	COM	G87110105
ENSG	ENSIGN GROUP INC COM	31,333	$5,460	1.2%	$179.59	0.0%	COM	29358P101
JNJ	JOHNSON & JOHNSON	18,490	$3,827	0.8%	$197.01	0.0%	COM	478160104
WDC	WESTERN DIGITAL CORP COM	18,842	$3,246	0.7%	$151.55	0.0%	COM	958102105
GOOGL	ALPHABET INC CAP STK CL A	8,074	$2,545	0.6%	$285.60	0.0%	COM	02079K305
UTHR	UNITED THERAPEUTICS CORP DELCO	5,128	$2,499	0.5%	$465.69	0.0%	COM	91307C102
GM	GENERAL MTRS CO COM	29,445	$2,394	0.5%	$70.40	0.0%	COM	37045V100
ABVX	ABIVAX SA SPONSORED ADS	16,620	$2,241	0.5%	$134.84	—	COM	00370M103
TSM	TAIWAN SEMICONDUCTOR MFG LTDSP	5,508	$1,674	0.4%	$303.92	—	COM	874039100
TEVA	TEVA PHARMACEUTICAL INDS LTDAD	52,533	$1,640	0.4%	$31.22	—	COM	881624209
SONY	SONY CORP - ADR	56,015	$1,434	0.3%	$25.60	—	COM	835699307
GMAB	GENMAB A/S	44,837	$1,381	0.3%	$30.80	—	COM	372303206
ARGX	ARGENX SE SPONSORED ADR	1,479	$1,244	0.3%	$841.11	—	FOREIGN COMMON S	04016X101
BABA	ALIBABA GROUP HLDG LTD SPONSOR	8,136	$1,193	0.3%	$146.63	—	COM	01609W102
STLD	STEEL DYNAMICS INC COM	1,575	$375	0.1%	$158.36	0.0%	COM	858119100
COR	AMERISOURCEBERGEN CORP COM	794	$268	0.1%	$340.62	0.0%	COM	03073E105

Increased Positions (54)

MEDP MEDPACE HLDGS INC COM 2.7%

Value ($000) $12,592 (+147.8%) Shares 22,420 (+126.8%) Est. Cost $509.87 Unrealized +11.3%

SPY SPDR S&P 500 ETF TR TR UNIT 0.7%

Value ($000) $3,389 (+1513.8%) Shares 4,970 (+1477.8%) Est. Cost $680.93 Unrealized —

NEM NEWMONT MNG CORP 3.3%

Value ($000) $14,995 (+26.7%) Shares 150,179 (+7.0%) Est. Cost $70.75 Unrealized +27.5%

CRS CARPENTER TECHNOLOGY CORP COM 2.7%

Value ($000) $12,283 (+32.4%) Shares 39,012 (+3.2%) Est. Cost $256.65 Unrealized +17.1%

APH AMPHENOL CORP NEW CL A 3.8%

Value ($000) $17,423 (+11.9%) Shares 128,838 (+2.4%) Est. Cost $87.46 Unrealized +52.7%

SLV ISHARES SILVER TRUST ISHARES 1.1%

Value ($000) $5,062 (+54.4%) Shares 78,572 (+1.5%) Est. Cost $27.22 Unrealized —

FIX COMFORT SYS USA INC COM 1.7%

Value ($000) $7,919 (+20.8%) Shares 8,485 (+6.8%) Est. Cost $692.73 Unrealized +33.2%

GEV GE VERNOVA LLC COM 2.4%

Value ($000) $11,103 (+11.0%) Shares 16,706 (+2.7%) Est. Cost $229.21 Unrealized +165.7%

AVGO BROADCOM INC COM 2.7%

Value ($000) $12,460 (+7.4%) Shares 35,971 (+2.3%) Est. Cost $186.91 Unrealized +91.0%

SGI TEMPUR SEALY INTL INC COM 1.5%

Value ($000) $6,927 (+12.1%) Shares 77,479 (+5.7%) Est. Cost $79.27 Unrealized +10.2%

BBVA BANCO BILBAO VIZCAYA ARGENTASP 0.7%

Value ($000) $3,334 (+24.0%) Shares 143,046 (+2.4%) Est. Cost $6.28 Unrealized —

HLI HOULIHAN LOKEY INC CL A 1.1%

Value ($000) $4,901 (-11.2%) Shares 28,123 (+4.7%) Est. Cost $153.76 Unrealized +19.1%

SE SEA LTD SPONSORD ADS 0.4%

Value ($000) $1,660 (-27.0%) Shares 13,016 (+2.3%) Est. Cost $106.61 Unrealized —

SBSW SIBANYE STILLWATER LTD SPONSOR 0.5%

Value ($000) $2,512 (+31.6%) Shares 176,283 (+3.8%) Est. Cost $11.35 Unrealized —

BCS BARCLAYS PLC ADR 0.6%

Value ($000) $2,727 (+26.5%) Shares 107,134 (+2.7%) Est. Cost $12.50 Unrealized —

DBP INVESCO DB PRECIOUS METALS FUN 0.8%

Value ($000) $3,890 (+17.1%) Shares 37,836 (+1.3%) Est. Cost $71.91 Unrealized —

KEP KOREA ELECTRIC PWR SPONSORED A 0.4%

Value ($000) $1,960 (+34.8%) Shares 118,818 (+6.6%) Est. Cost $13.26 Unrealized —

CX CEMEX SAB DE CV SPON ADR NEW 0.4%

Value ($000) $1,879 (+34.0%) Shares 163,570 (+4.9%) Est. Cost $9.11 Unrealized —

GLD SPDR GOLD TRUST GOLD SHS 0.8%

Value ($000) $3,843 (+13.2%) Shares 9,697 (+1.5%) Est. Cost $246.15 Unrealized —

RYAAY RYANAIR HLDGS PLC SPONSORED AD 0.4%

Value ($000) $2,000 (+26.9%) Shares 27,708 (+5.8%) Est. Cost $60.87 Unrealized —

BVN COMPANIA DE MINAS BUENAVENTUSP 0.5%

Value ($000) $2,335 (+19.1%) Shares 83,901 (+4.1%) Est. Cost $24.47 Unrealized —

HMY HARMONY GOLD MNG LTD SPONSORED 0.6%

Value ($000) $2,875 (+14.5%) Shares 144,460 (+4.4%) Est. Cost $8.87 Unrealized —

EMBJ EMBRAER S A SP 0.8%

Value ($000) $3,800 (+10.6%) Shares 59,040 (+3.9%) Est. Cost $19.56 Unrealized —

MA MASTERCARD INC CL A 1.1%

Value ($000) $5,150 (+6.7%) Shares 9,016 (+6.2%) Est. Cost $553.03 Unrealized +1.1%

SMFG SUMITOMO MITSUI FINL GROUP ISP 0.4%

Value ($000) $1,781 (+20.7%) Shares 92,159 (+4.5%) Est. Cost $10.39 Unrealized —

VNET 21VIANET GROUP INC SPONSORED A 0.4%

Value ($000) $1,882 (-13.3%) Shares 222,482 (+5.9%) Est. Cost $8.21 Unrealized —

TT TRANE TECHNOLOGIES PLC SHS 1.6%

Value ($000) $7,149 (-3.6%) Shares 18,337 (+4.3%) Est. Cost $229.49 Unrealized +80.2%

SGAPY SINGAPORE TELECOM LTD SPON ADR 0.4%

Value ($000) $1,792 (+14.9%) Shares 50,661 (+4.1%) Est. Cost $32.18 Unrealized —

GFI GOLD FIELDS LTD NEW SPONSORED 0.6%

Value ($000) $2,975 (+7.9%) Shares 68,136 (+3.7%) Est. Cost $42.02 Unrealized —

CYD CHINA YUCHAI INTL LTD COM 0.5%

Value ($000) $2,262 (-8.2%) Shares 63,726 (+6.9%) Est. Cost $30.63 Unrealized +19.0%

BTI BRITISH AMERN TOB PLC SPONSORE 0.3%

Value ($000) $1,514 (+13.4%) Shares 26,735 (+6.3%) Est. Cost $53.29 Unrealized —

IEV ISHARES TR EUROPE ETF 0.7%

Value ($000) $3,046 (+6.2%) Shares 44,397 (+1.4%) Est. Cost $63.33 Unrealized —

ASND ASCENDIS PHARMA A/S SPONSORED 0.4%

Value ($000) $1,813 (+10.7%) Shares 8,504 (+3.2%) Est. Cost $173.82 Unrealized —

TIGR UP FINTECH HLDG LTD SPONSORED 0.4%

Value ($000) $1,952 (-8.1%) Shares 204,132 (+2.6%) Est. Cost $6.54 Unrealized —

EZU ISHARES INC MSCI EURZONE E 0.7%

Value ($000) $3,234 (+5.0%) Shares 50,450 (+1.5%) Est. Cost $59.52 Unrealized —

TCEHY TENCENT HLDGS LTD ADR 0.4%

Value ($000) $1,825 (-7.8%) Shares 23,708 (+2.0%) Est. Cost $54.14 Unrealized —

PROSY PROSUS N V SPONSORED ADR 0.3%

Value ($000) $1,488 (-8.8%) Shares 119,896 (+3.5%) Est. Cost $8.09 Unrealized —

DWX SPDR INDEX SHS FDS S&P INTL ET 0.6%

Value ($000) $2,977 (+4.3%) Shares 67,756 (+1.4%) Est. Cost $42.17 Unrealized —

IVW ISHARES TR S&P 500 GRWT ETF 0.7%

Value ($000) $3,115 (+3.7%) Shares 25,275 (+1.6%) Est. Cost $120.75 Unrealized —

SIEGY SIEMENS A G SPONSORED ADR 0.4%

Value ($000) $1,687 (+6.3%) Shares 12,015 (+1.9%) Est. Cost $97.02 Unrealized —

EME EMCOR GROUP INC COM 1.8%

Value ($000) $8,314 (-1.2%) Shares 13,590 (+4.9%) Est. Cost $227.21 Unrealized +185.0%

NRG NRG ENERGY INC COM NEW 3.3%

Value ($000) $15,159 (-0.6%) Shares 95,193 (+1.1%) Est. Cost $96.72 Unrealized +70.9%

PLTR PALANTIR TECHNOLOGIES INC CL A 3.7%

Value ($000) $17,170 (-0.5%) Shares 96,596 (+2.1%) Est. Cost $94.75 Unrealized +91.1%

ACWX ISHARES TR MSCI ACWI EX U 0.1%

Value ($000) $305 (+40.6%) Shares 4,550 (+36.4%) Est. Cost $65.59 Unrealized —

MUFG MITSUBISHI UFJ FINL GROUP INSP 0.6%

Value ($000) $2,539 (+3.2%) Shares 160,112 (+3.7%) Est. Cost $6.22 Unrealized —

XLF SELECT SECTOR SPDR TR SBI INT- 0.6%

Value ($000) $2,658 (+3.0%) Shares 48,530 (+1.3%) Est. Cost $41.42 Unrealized —

EONGY E ON SE SPONSORED ADR 0.4%

Value ($000) $1,692 (+4.4%) Shares 89,326 (+3.7%) Est. Cost $18.37 Unrealized —

XLI SELECT SECTOR SPDR TR SBI INT- 0.7%

Value ($000) $3,346 (+2.1%) Shares 21,573 (+1.5%) Est. Cost $102.54 Unrealized —

VIV TELEFONICA BRASIL SA NEW ADR 0.3%

Value ($000) $1,526 (-3.3%) Shares 128,702 (+4.0%) Est. Cost $12.71 Unrealized —

FUTU FUTU HLDGS LTD SPON ADS CL A 0.4%

Value ($000) $1,723 (-2.3%) Shares 10,494 (+3.5%) Est. Cost $82.86 Unrealized —

MTUM ISHARES TR USA MOMENTUM F 0.6%

Value ($000) $2,950 (-1.0%) Shares 11,787 (+1.4%) Est. Cost $159.09 Unrealized —

RYCEY ROLLS ROYCE HOLDINGS PLC SPONS 0.3%

Value ($000) $1,537 (-1.3%) Shares 99,391 (+2.2%) Est. Cost $16.00 Unrealized —

AEG AEGON LTD AMER REG 1 CERT 0.3%

Value ($000) $1,280 (-0.7%) Shares 166,041 (+2.9%) Est. Cost $6.20 Unrealized —

VEON VEON LTD SPONSORED ADS 0.3%

Value ($000) $1,279 (+0.5%) Shares 24,328 (+4.0%) Est. Cost $54.34 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MEDP	MEDPACE HLDGS INC COM	22,420 (+126.8%)	$12,592 (+147.8%)	2.7%	$509.87	+11.3%	COM	58506Q109
SPY	SPDR S&P 500 ETF TR TR UNIT	4,970 (+1477.8%)	$3,389 (+1513.8%)	0.7%	$680.93	—	COM	78462F103
NEM	NEWMONT MNG CORP	150,179 (+7.0%)	$14,995 (+26.7%)	3.3%	$70.75	+27.5%	COM	651639106
CRS	CARPENTER TECHNOLOGY CORP COM	39,012 (+3.2%)	$12,283 (+32.4%)	2.7%	$256.65	+17.1%	COM	144285103
APH	AMPHENOL CORP NEW CL A	128,838 (+2.4%)	$17,423 (+11.9%)	3.8%	$87.46	+52.7%	COM	032095101
SLV	ISHARES SILVER TRUST ISHARES	78,572 (+1.5%)	$5,062 (+54.4%)	1.1%	$27.22	—	COM	46428Q109
FIX	COMFORT SYS USA INC COM	8,485 (+6.8%)	$7,919 (+20.8%)	1.7%	$692.73	+33.2%	COM	199908104
GEV	GE VERNOVA LLC COM	16,706 (+2.7%)	$11,103 (+11.0%)	2.4%	$229.21	+165.7%	COM	36828A101
AVGO	BROADCOM INC COM	35,971 (+2.3%)	$12,460 (+7.4%)	2.7%	$186.91	+91.0%	COM	11135F101
SGI	TEMPUR SEALY INTL INC COM	77,479 (+5.7%)	$6,927 (+12.1%)	1.5%	$79.27	+10.2%	COM	88023U101
BBVA	BANCO BILBAO VIZCAYA ARGENTASP	143,046 (+2.4%)	$3,334 (+24.0%)	0.7%	$6.28	—	COM	05946K101
HLI	HOULIHAN LOKEY INC CL A	28,123 (+4.7%)	$4,901 (-11.2%)	1.1%	$153.76	+19.1%	COM	441593100
SE	SEA LTD SPONSORD ADS	13,016 (+2.3%)	$1,660 (-27.0%)	0.4%	$106.61	—	COM	81141R100
SBSW	SIBANYE STILLWATER LTD SPONSOR	176,283 (+3.8%)	$2,512 (+31.6%)	0.5%	$11.35	—	COM	82575P107
BCS	BARCLAYS PLC ADR	107,134 (+2.7%)	$2,727 (+26.5%)	0.6%	$12.50	—	COM	06738E204
DBP	INVESCO DB PRECIOUS METALS FUN	37,836 (+1.3%)	$3,890 (+17.1%)	0.8%	$71.91	—	COM	46140H502
KEP	KOREA ELECTRIC PWR SPONSORED A	118,818 (+6.6%)	$1,960 (+34.8%)	0.4%	$13.26	—	COM	500631106
CX	CEMEX SAB DE CV SPON ADR NEW	163,570 (+4.9%)	$1,879 (+34.0%)	0.4%	$9.11	—	COM	151290889
GLD	SPDR GOLD TRUST GOLD SHS	9,697 (+1.5%)	$3,843 (+13.2%)	0.8%	$246.15	—	COM	78463V107
RYAAY	RYANAIR HLDGS PLC SPONSORED AD	27,708 (+5.8%)	$2,000 (+26.9%)	0.4%	$60.87	—	COM	783513203
BVN	COMPANIA DE MINAS BUENAVENTUSP	83,901 (+4.1%)	$2,335 (+19.1%)	0.5%	$24.47	—	COM	204448104
HMY	HARMONY GOLD MNG LTD SPONSORED	144,460 (+4.4%)	$2,875 (+14.5%)	0.6%	$8.87	—	COM	413216300
EMBJ	EMBRAER S A SP	59,040 (+3.9%)	$3,800 (+10.6%)	0.8%	$19.56	—	COM	29082A107
MA	MASTERCARD INC CL A	9,016 (+6.2%)	$5,150 (+6.7%)	1.1%	$553.03	+1.1%	COM	57636Q104
SMFG	SUMITOMO MITSUI FINL GROUP ISP	92,159 (+4.5%)	$1,781 (+20.7%)	0.4%	$10.39	—	COM	86562M209
VNET	21VIANET GROUP INC SPONSORED A	222,482 (+5.9%)	$1,882 (-13.3%)	0.4%	$8.21	—	COM	90138A103
TT	TRANE TECHNOLOGIES PLC SHS	18,337 (+4.3%)	$7,149 (-3.6%)	1.6%	$229.49	+80.2%	COM	G8994E103
SGAPY	SINGAPORE TELECOM LTD SPON ADR	50,661 (+4.1%)	$1,792 (+14.9%)	0.4%	$32.18	—	COM	82929R304
GFI	GOLD FIELDS LTD NEW SPONSORED	68,136 (+3.7%)	$2,975 (+7.9%)	0.6%	$42.02	—	COM	38059T106
CYD	CHINA YUCHAI INTL LTD COM	63,726 (+6.9%)	$2,262 (-8.2%)	0.5%	$30.63	+19.0%	COM	G21082105
BTI	BRITISH AMERN TOB PLC SPONSORE	26,735 (+6.3%)	$1,514 (+13.4%)	0.3%	$53.29	—	COM	110448107
IEV	ISHARES TR EUROPE ETF	44,397 (+1.4%)	$3,046 (+6.2%)	0.7%	$63.33	—	COM	464287861
ASND	ASCENDIS PHARMA A/S SPONSORED	8,504 (+3.2%)	$1,813 (+10.7%)	0.4%	$173.82	—	COM	04351P101
TIGR	UP FINTECH HLDG LTD SPONSORED	204,132 (+2.6%)	$1,952 (-8.1%)	0.4%	$6.54	—	COM	91531W106
EZU	ISHARES INC MSCI EURZONE E	50,450 (+1.5%)	$3,234 (+5.0%)	0.7%	$59.52	—	COM	464286608
TCEHY	TENCENT HLDGS LTD ADR	23,708 (+2.0%)	$1,825 (-7.8%)	0.4%	$54.14	—	COM	88032Q109
PROSY	PROSUS N V SPONSORED ADR	119,896 (+3.5%)	$1,488 (-8.8%)	0.3%	$8.09	—	COM	74365P108
DWX	SPDR INDEX SHS FDS S&P INTL ET	67,756 (+1.4%)	$2,977 (+4.3%)	0.6%	$42.17	—	COM	78463X772
IVW	ISHARES TR S&P 500 GRWT ETF	25,275 (+1.6%)	$3,115 (+3.7%)	0.7%	$120.75	—	COM	464287309
SIEGY	SIEMENS A G SPONSORED ADR	12,015 (+1.9%)	$1,687 (+6.3%)	0.4%	$97.02	—	COM	826197501
EME	EMCOR GROUP INC COM	13,590 (+4.9%)	$8,314 (-1.2%)	1.8%	$227.21	+185.0%	COM	29084Q100
NRG	NRG ENERGY INC COM NEW	95,193 (+1.1%)	$15,159 (-0.6%)	3.3%	$96.72	+70.9%	COM	629377508
PLTR	PALANTIR TECHNOLOGIES INC CL A	96,596 (+2.1%)	$17,170 (-0.5%)	3.7%	$94.75	+91.1%	COM	69608A108
ACWX	ISHARES TR MSCI ACWI EX U	4,550 (+36.4%)	$305 (+40.6%)	0.1%	$65.59	—	COM	464288240
MUFG	MITSUBISHI UFJ FINL GROUP INSP	160,112 (+3.7%)	$2,539 (+3.2%)	0.6%	$6.22	—	COM	606822104
XLF	SELECT SECTOR SPDR TR SBI INT-	48,530 (+1.3%)	$2,658 (+3.0%)	0.6%	$41.42	—	COM	81369Y605
EONGY	E ON SE SPONSORED ADR	89,326 (+3.7%)	$1,692 (+4.4%)	0.4%	$18.37	—	COM	268780103
XLI	SELECT SECTOR SPDR TR SBI INT-	21,573 (+1.5%)	$3,346 (+2.1%)	0.7%	$102.54	—	COM	81369Y704
VIV	TELEFONICA BRASIL SA NEW ADR	128,702 (+4.0%)	$1,526 (-3.3%)	0.3%	$12.71	—	FOREIGN COMMON S	87936R205
FUTU	FUTU HLDGS LTD SPON ADS CL A	10,494 (+3.5%)	$1,723 (-2.3%)	0.4%	$82.86	—	COM	36118L106
MTUM	ISHARES TR USA MOMENTUM F	11,787 (+1.4%)	$2,950 (-1.0%)	0.6%	$159.09	—	COM	46432F396
RYCEY	ROLLS ROYCE HOLDINGS PLC SPONS	99,391 (+2.2%)	$1,537 (-1.3%)	0.3%	$16.00	—	COM	775781206
AEG	AEGON LTD AMER REG 1 CERT	166,041 (+2.9%)	$1,280 (-0.7%)	0.3%	$6.20	—	COM	0076CA104
VEON	VEON LTD SPONSORED ADS	24,328 (+4.0%)	$1,279 (+0.5%)	0.3%	$54.34	—	COM	91822M502

Exited Positions (32)

NFLX NETFLIX INC COM 1.9%

Value ($000) $8,571 Shares 7,149 Est. Cost $82.71 Unrealized +30.3%

DASH DOORDASH INC CL A 1.2%

Value ($000) $5,733 Shares 21,077 Est. Cost $250.83 Unrealized -6.5%

INTU INTUIT COM 1.0%

Value ($000) $4,794 Shares 7,020 Est. Cost $676.86 Unrealized -2.4%

PM PHILIP MORRIS INTL INC COM 0.9%

Value ($000) $4,339 Shares 26,748 Est. Cost $128.00 Unrealized +20.0%

MOS MOSAIC CO NEW COM 0.9%

Value ($000) $4,170 Shares 120,253 Est. Cost $33.96 Unrealized -21.2%

DIS DISNEY WALT PRODTNS 0.9%

Value ($000) $4,156 Shares 36,296 Est. Cost $116.99 Unrealized -6.4%

NWS NEWS CORP NEW CL B 0.8%

Value ($000) $3,880 Shares 112,308 Est. Cost $26.22 Unrealized +13.7%

MCO MOODYS CORP COM 0.8%

Value ($000) $3,611 Shares 7,579 Est. Cost $381.40 Unrealized +27.8%

COF CAPITAL ONE FINL CORP COM 0.5%

Value ($000) $2,465 Shares 11,596 Est. Cost $186.79 Unrealized +19.0%

NFG NATIONAL FUEL & GAS CO 0.5%

Value ($000) $2,127 Shares 23,030 Est. Cost $80.72 Unrealized +2.1%

NEU NEWMARKET CORP COM 0.4%

Value ($000) $1,940 Shares 2,342 Est. Cost $727.24 Unrealized +4.6%

SAP SAP SE SPON ADR 0.4%

Value ($000) $1,779 Shares 6,658 Est. Cost $140.41 Unrealized —

MELI MERCADOLIBRE INC COM 0.4%

Value ($000) $1,652 Shares 707 Est. Cost $1328.22 Unrealized +58.1%

GRFS GRIFOLS S A SP ADR REP B N 0.3%

Value ($000) $1,447 Shares 145,236 Est. Cost $9.96 Unrealized —

KT KT CORPORATION SPONSORED ADR 0.3%

Value ($000) $1,425 Shares 73,071 Est. Cost $15.52 Unrealized —

PAC GPO AEROPORTUARIO DEL PAC SASP 0.3%

Value ($000) $1,353 Shares 5,706 Est. Cost $237.12 Unrealized —

YSG YATSEN HLDG LTD SPONSORED ADS 0.3%

Value ($000) $1,340 Shares 147,908 Est. Cost $9.06 Unrealized —

DTEGY DEUTSCHE TELEKOM AG SPONSORED 0.3%

Value ($000) $1,306 Shares 38,327 Est. Cost $36.35 Unrealized —

KC KINGSOFT CLOUD HLDGS LTD ADS 0.3%

Value ($000) $1,153 Shares 77,307 Est. Cost $14.36 Unrealized —

SFM SPROUTS FMRS MKT INC COM 0.1%

Value ($000) $502 Shares 4,613 Est. Cost $74.22 Unrealized +20.9%

ANET ARISTA NETWORKS INC COM SHS 0.1%

Value ($000) $411 Shares 2,820 Est. Cost $102.84 Unrealized +33.9%

TDG TRANSDIGM GROUP INC COM 0.1%

Value ($000) $398 Shares 302 Est. Cost $850.15 Unrealized +54.2%

LLY LILLY, ELI AND COMPANY 0.1%

Value ($000) $357 Shares 468 Est. Cost $389.35 Unrealized +145.4%

GE GENERAL ELECTRIC CO COM NEW 0.1%

Value ($000) $339 Shares 1,126 Est. Cost $90.28 Unrealized +233.2%

T A T & T INC (NEW) 0.1%

Value ($000) $318 Shares 11,263 Est. Cost $26.96 Unrealized -6.2%

EQT EQT CORP COM 0.1%

Value ($000) $250 Shares 4,584 Est. Cost $46.51 Unrealized +20.7%

ETN EATON CORP PLC SHS 0.1%

Value ($000) $249 Shares 664 Est. Cost $306.71 Unrealized +15.5%

DECK DECKERS OUTDOOR CORP COM 0.1%

Value ($000) $246 Shares 2,430 Est. Cost $145.59 Unrealized -35.6%

MCK MCKESSON CORP COM 0.0%

Value ($000) $219 Shares 283 Est. Cost $703.74 Unrealized +15.9%

XPO XPO LOGISTICS INC COM 0.0%

Value ($000) $210 Shares 1,622 Est. Cost $112.17 Unrealized +21.4%

BLDR BUILDERS FIRSTSOURCE INC COM 0.0%

Value ($000) $205 Shares 1,687 Est. Cost $132.67 Unrealized -15.3%

UNM UNUMPROVIDENT CORP COM 0.0%

Value ($000) $201 Shares 2,580 Est. Cost $78.39 Unrealized -2.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC COM	7,149	$8,571	1.9%	$82.71	+30.3%	—	64110L106
DASH	DOORDASH INC CL A	21,077	$5,733	1.2%	$250.83	-6.5%	—	25809K105
INTU	INTUIT COM	7,020	$4,794	1.0%	$676.86	-2.4%	—	461202103
PM	PHILIP MORRIS INTL INC COM	26,748	$4,339	0.9%	$128.00	+20.0%	—	718172109
MOS	MOSAIC CO NEW COM	120,253	$4,170	0.9%	$33.96	-21.2%	—	61945C103
DIS	DISNEY WALT PRODTNS	36,296	$4,156	0.9%	$116.99	-6.4%	—	254687106
NWS	NEWS CORP NEW CL B	112,308	$3,880	0.8%	$26.22	+13.7%	—	65249B208
MCO	MOODYS CORP COM	7,579	$3,611	0.8%	$381.40	+27.8%	—	615369105
COF	CAPITAL ONE FINL CORP COM	11,596	$2,465	0.5%	$186.79	+19.0%	—	14040H105
NFG	NATIONAL FUEL & GAS CO	23,030	$2,127	0.5%	$80.72	+2.1%	—	636180101
NEU	NEWMARKET CORP COM	2,342	$1,940	0.4%	$727.24	+4.6%	—	651587107
SAP	SAP SE SPON ADR	6,658	$1,779	0.4%	$140.41	—	—	803054204
MELI	MERCADOLIBRE INC COM	707	$1,652	0.4%	$1328.22	+58.1%	—	58733R102
GRFS	GRIFOLS S A SP ADR REP B N	145,236	$1,447	0.3%	$9.96	—	—	398438408
KT	KT CORPORATION SPONSORED ADR	73,071	$1,425	0.3%	$15.52	—	—	48268K101
PAC	GPO AEROPORTUARIO DEL PAC SASP	5,706	$1,353	0.3%	$237.12	—	—	400506101
YSG	YATSEN HLDG LTD SPONSORED ADS	147,908	$1,340	0.3%	$9.06	—	—	985194208
DTEGY	DEUTSCHE TELEKOM AG SPONSORED	38,327	$1,306	0.3%	$36.35	—	—	251566105
KC	KINGSOFT CLOUD HLDGS LTD ADS	77,307	$1,153	0.3%	$14.36	—	—	49639K101
SFM	SPROUTS FMRS MKT INC COM	4,613	$502	0.1%	$74.22	+20.9%	—	85208M102
ANET	ARISTA NETWORKS INC COM SHS	2,820	$411	0.1%	$102.84	+33.9%	—	040413205
TDG	TRANSDIGM GROUP INC COM	302	$398	0.1%	$850.15	+54.2%	—	893641100
LLY	LILLY, ELI AND COMPANY	468	$357	0.1%	$389.35	+145.4%	—	532457108
GE	GENERAL ELECTRIC CO COM NEW	1,126	$339	0.1%	$90.28	+233.2%	—	369604301
T	A T & T INC (NEW)	11,263	$318	0.1%	$26.96	-6.2%	—	00206R102
EQT	EQT CORP COM	4,584	$250	0.1%	$46.51	+20.7%	—	26884L109
ETN	EATON CORP PLC SHS	664	$249	0.1%	$306.71	+15.5%	—	G29183103
DECK	DECKERS OUTDOOR CORP COM	2,430	$246	0.1%	$145.59	-35.6%	—	243537107
MCK	MCKESSON CORP COM	283	$219	0.0%	$703.74	+15.9%	—	58155Q103
XPO	XPO LOGISTICS INC COM	1,622	$210	0.0%	$112.17	+21.4%	—	983793100
BLDR	BUILDERS FIRSTSOURCE INC COM	1,687	$205	0.0%	$132.67	-15.3%	—	12008R107
UNM	UNUMPROVIDENT CORP COM	2,580	$201	0.0%	$78.39	-2.4%	—	91529Y106

Decreased Positions (40)

VST VISTRA CORP 1.6%

Value ($000) $7,576 (-45.2%) Shares 46,958 (-33.5%) Est. Cost $119.90 Unrealized +51.7%

MP MP MATERIALS CORP 0.4%

Value ($000) $1,861 (-76.5%) Shares 36,834 (-68.9%) Est. Cost $42.61 Unrealized +48.8%

META FACEBOOK INC CL A 1.2%

Value ($000) $5,515 (-43.6%) Shares 7,644 (-42.5%) Est. Cost $247.87 Unrealized +169.2%

RCL ROYAL CARIBBEAN CRUISES LTD CO 1.4%

Value ($000) $6,408 (-29.3%) Shares 22,974 (-18.0%) Est. Cost $248.35 Unrealized +13.4%

EBAY EBAY INC COM 0.7%

Value ($000) $3,148 (-43.1%) Shares 36,148 (-40.6%) Est. Cost $87.96 Unrealized -1.8%

AXON AXON ENTERPRISE INC COM 1.1%

Value ($000) $4,994 (-24.6%) Shares 8,415 (-8.8%) Est. Cost $198.81 Unrealized +212.1%

CAH CARDINAL HEALTH INC COM 1.3%

Value ($000) $6,030 (+31.0%) Shares 28,157 (-4.0%) Est. Cost $153.32 Unrealized +22.4%

WFC WELLS FARGO & CO NEW COM 1.5%

Value ($000) $6,794 (-14.8%) Shares 72,892 (-23.4%) Est. Cost $72.19 Unrealized +20.0%

UAL UNITED CONTL HLDGS INC COM 1.1%

Value ($000) $5,126 (+14.2%) Shares 45,840 (-1.5%) Est. Cost $92.04 Unrealized +9.8%

BK BANK NEW YORK MELLON CORP COM 2.2%

Value ($000) $10,003 (+4.7%) Shares 86,163 (-1.7%) Est. Cost $75.68 Unrealized +46.0%

PANW PALO ALTO NETWORKS INC COM 0.8%

Value ($000) $3,726 (-10.7%) Shares 18,722 (-8.6%) Est. Cost $170.57 Unrealized +18.3%

NVDA NVIDIA CORP COM 3.8%

Value ($000) $17,392 (+2.3%) Shares 88,736 (-2.6%) Est. Cost $96.90 Unrealized +92.1%

NTDOY NINTENDO LTD ADR 0.3%

Value ($000) $1,195 (-23.5%) Shares 70,728 (-1.8%) Est. Cost $21.68 Unrealized —

CEG CONSTELLATION ENERGY CORP COM 1.3%

Value ($000) $5,891 (+6.4%) Shares 16,245 (-3.5%) Est. Cost $148.02 Unrealized +145.4%

DTM DT MIDSTREAM INC COMMON STOCK 1.6%

Value ($000) $7,517 (+4.5%) Shares 62,810 (-1.3%) Est. Cost $72.44 Unrealized +57.8%

EVR EVERCORE PARTNERS INC CLASS A 1.0%

Value ($000) $4,764 (+6.6%) Shares 12,467 (-5.9%) Est. Cost $298.59 Unrealized +7.5%

ESAB ESAB CORPORATION COM 0.1%

Value ($000) $361 (-43.4%) Shares 1 (-100.0%) Est. Cost $68.16 Unrealized +67.8%

HWM HOWMET AEROSPACE INC COM 0.9%

Value ($000) $3,953 (+3.4%) Shares 19,282 (-1.0%) Est. Cost $89.95 Unrealized +121.2%

IEF ISHARES TR 7-10 Y TR BD E 0.7%

Value ($000) $3,235 (-3.5%) Shares 33,637 (-3.3%) Est. Cost $106.09 Unrealized —

TLT ISHARES TR 20 YR TR BD ET 0.1%

Value ($000) $462 (-11.0%) Shares 5,303 (-8.7%) Est. Cost $89.33 Unrealized —

TNL TRAVEL PLUS LEISURE CO COM 0.1%

Value ($000) $392 (+16.7%) Shares 5,552 (-1.6%) Est. Cost $59.15 Unrealized +10.1%

TIP ISHARES TR TIPS BD ETF 0.1%

Value ($000) $456 (-10.1%) Shares 4,147 (-9.0%) Est. Cost $106.56 Unrealized —

TPR TAPESTRY INC COM 0.1%

Value ($000) $515 (+10.5%) Shares 4,033 (-2.1%) Est. Cost $74.64 Unrealized +52.8%

KLAC KLA-TENCOR CORP COM 0.1%

Value ($000) $441 (+11.4%) Shares 351 (-4.4%) Est. Cost $768.86 Unrealized +52.4%

CWB SPDR SERIES TRUST BRC CNV SECS 0.1%

Value ($000) $371 (-10.4%) Shares 4,161 (-9.0%) Est. Cost $90.57 Unrealized —

LQD ISHARES TR IBOXX INV CP E 0.1%

Value ($000) $358 (-10.1%) Shares 3,248 (-9.0%) Est. Cost $112.92 Unrealized —

HYG ISHARES TR IBOXX HI YD ET 0.1%

Value ($000) $354 (-9.5%) Shares 4,393 (-8.9%) Est. Cost $81.12 Unrealized —

AM ANTERO MIDSTREAM CORP COM 0.1%

Value ($000) $318 (-10.2%) Shares 17,862 (-2.0%) Est. Cost $12.13 Unrealized +46.4%

EMB ISHARES TR JP MOR EM MK E 0.1%

Value ($000) $364 (-7.8%) Shares 3,784 (-8.8%) Est. Cost $95.20 Unrealized —

RTX RAYTHEON TECHNOLOGIES CORP COM 0.1%

Value ($000) $404 (+7.7%) Shares 2,203 (-1.7%) Est. Cost $134.22 Unrealized +29.1%

VTR VENTAS INC COM 0.1%

Value ($000) $313 (+9.1%) Shares 4,050 (-1.2%) Est. Cost $63.96 Unrealized +17.2%

MTZ MASTEC INC COM 0.6%

Value ($000) $2,660 (+1.0%) Shares 12,238 (-1.1%) Est. Cost $183.12 Unrealized +14.6%

IBOC INTERNATIONAL BANCSHARES CORCO 0.1%

Value ($000) $320 (-5.9%) Shares 4,809 (-2.8%) Est. Cost $59.58 Unrealized +12.5%

HAS HASBRO INC COM 0.1%

Value ($000) $345 (+6.2%) Shares 4,206 (-1.9%) Est. Cost $76.49 Unrealized +2.0%

ORI OLD REP INTL CORP COM 0.1%

Value ($000) $337 (+6.0%) Shares 7,295 (-2.5%) Est. Cost $34.88 Unrealized +17.1%

MTG MGIC INVT CORP WIS COM 0.1%

Value ($000) $385 (+1.9%) Shares 13,161 (-1.3%) Est. Cost $18.59 Unrealized +51.0%

SBRA SABRA HEALTH CARE REIT INC COM 0.1%

Value ($000) $319 (-1.2%) Shares 16,859 (-2.9%) Est. Cost $18.44 Unrealized —

AEP AMERICAN ELECTRIC POWER 0.1%

Value ($000) $342 (+1.2%) Shares 2,962 (-1.3%) Est. Cost $101.98 Unrealized +15.4%

R RYDER SYS INC COM 0.1%

Value ($000) $337 (+0.3%) Shares 1,763 (-1.1%) Est. Cost $180.37 Unrealized -0.4%

CW CURTISS WRIGHT CORP COM 2.0%

Value ($000) $9,347 (-0.0%) Shares 16,628 (-3.4%) Est. Cost $243.60 Unrealized +128.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VST	VISTRA CORP	46,958 (-33.5%)	$7,576 (-45.2%)	1.6%	$119.90	+51.7%	COM	92840M102
MP	MP MATERIALS CORP	36,834 (-68.9%)	$1,861 (-76.5%)	0.4%	$42.61	+48.8%	COM	553368101
META	FACEBOOK INC CL A	7,644 (-42.5%)	$5,515 (-43.6%)	1.2%	$247.87	+169.2%	COM	30303M102
RCL	ROYAL CARIBBEAN CRUISES LTD CO	22,974 (-18.0%)	$6,408 (-29.3%)	1.4%	$248.35	+13.4%	COM	V7780T103
EBAY	EBAY INC COM	36,148 (-40.6%)	$3,148 (-43.1%)	0.7%	$87.96	-1.8%	COM	278642103
AXON	AXON ENTERPRISE INC COM	8,415 (-8.8%)	$4,994 (-24.6%)	1.1%	$198.81	+212.1%	COM	05464C101
CAH	CARDINAL HEALTH INC COM	28,157 (-4.0%)	$6,030 (+31.0%)	1.3%	$153.32	+22.4%	COM	14149Y108
WFC	WELLS FARGO & CO NEW COM	72,892 (-23.4%)	$6,794 (-14.8%)	1.5%	$72.19	+20.0%	COM	949746101
UAL	UNITED CONTL HLDGS INC COM	45,840 (-1.5%)	$5,126 (+14.2%)	1.1%	$92.04	+9.8%	COM	910047109
BK	BANK NEW YORK MELLON CORP COM	86,163 (-1.7%)	$10,003 (+4.7%)	2.2%	$75.68	+46.0%	COM	064058100
PANW	PALO ALTO NETWORKS INC COM	18,722 (-8.6%)	$3,726 (-10.7%)	0.8%	$170.57	+18.3%	COM	697435105
NVDA	NVIDIA CORP COM	88,736 (-2.6%)	$17,392 (+2.3%)	3.8%	$96.90	+92.1%	COM	67066G104
NTDOY	NINTENDO LTD ADR	70,728 (-1.8%)	$1,195 (-23.5%)	0.3%	$21.68	—	COM	654445303
CEG	CONSTELLATION ENERGY CORP COM	16,245 (-3.5%)	$5,891 (+6.4%)	1.3%	$148.02	+145.4%	COM	21037T109
DTM	DT MIDSTREAM INC COMMON STOCK	62,810 (-1.3%)	$7,517 (+4.5%)	1.6%	$72.44	+57.8%	COM	23345M107
EVR	EVERCORE PARTNERS INC CLASS A	12,467 (-5.9%)	$4,764 (+6.6%)	1.0%	$298.59	+7.5%	COM	29977A105
ESAB	ESAB CORPORATION COM	1 (-100.0%)	$361 (-43.4%)	0.1%	$68.16	+67.8%	COM	29605J106
HWM	HOWMET AEROSPACE INC COM	19,282 (-1.0%)	$3,953 (+3.4%)	0.9%	$89.95	+121.2%	COM	443201108
IEF	ISHARES TR 7-10 Y TR BD E	33,637 (-3.3%)	$3,235 (-3.5%)	0.7%	$106.09	—	COM	464287440
TLT	ISHARES TR 20 YR TR BD ET	5,303 (-8.7%)	$462 (-11.0%)	0.1%	$89.33	—	COM	464287432
TNL	TRAVEL PLUS LEISURE CO COM	5,552 (-1.6%)	$392 (+16.7%)	0.1%	$59.15	+10.1%	COM	894164102
TIP	ISHARES TR TIPS BD ETF	4,147 (-9.0%)	$456 (-10.1%)	0.1%	$106.56	—	COM	464287176
TPR	TAPESTRY INC COM	4,033 (-2.1%)	$515 (+10.5%)	0.1%	$74.64	+52.8%	COM	876030107
KLAC	KLA-TENCOR CORP COM	351 (-4.4%)	$441 (+11.4%)	0.1%	$768.86	+52.4%	COM	482480100
CWB	SPDR SERIES TRUST BRC CNV SECS	4,161 (-9.0%)	$371 (-10.4%)	0.1%	$90.57	—	COM	78464A359
LQD	ISHARES TR IBOXX INV CP E	3,248 (-9.0%)	$358 (-10.1%)	0.1%	$112.92	—	COM	464287242
HYG	ISHARES TR IBOXX HI YD ET	4,393 (-8.9%)	$354 (-9.5%)	0.1%	$81.12	—	COM	464288513
AM	ANTERO MIDSTREAM CORP COM	17,862 (-2.0%)	$318 (-10.2%)	0.1%	$12.13	+46.4%	COM	03676B102
EMB	ISHARES TR JP MOR EM MK E	3,784 (-8.8%)	$364 (-7.8%)	0.1%	$95.20	—	COM	464288281
RTX	RAYTHEON TECHNOLOGIES CORP COM	2,203 (-1.7%)	$404 (+7.7%)	0.1%	$134.22	+29.1%	COM	75513E101
VTR	VENTAS INC COM	4,050 (-1.2%)	$313 (+9.1%)	0.1%	$63.96	+17.2%	COM	92276F100
MTZ	MASTEC INC COM	12,238 (-1.1%)	$2,660 (+1.0%)	0.6%	$183.12	+14.6%	COM	576323109
IBOC	INTERNATIONAL BANCSHARES CORCO	4,809 (-2.8%)	$320 (-5.9%)	0.1%	$59.58	+12.5%	COM	459044103
HAS	HASBRO INC COM	4,206 (-1.9%)	$345 (+6.2%)	0.1%	$76.49	+2.0%	COM	418056107
ORI	OLD REP INTL CORP COM	7,295 (-2.5%)	$337 (+6.0%)	0.1%	$34.88	+17.1%	COM	680223104
MTG	MGIC INVT CORP WIS COM	13,161 (-1.3%)	$385 (+1.9%)	0.1%	$18.59	+51.0%	COM	552848103
SBRA	SABRA HEALTH CARE REIT INC COM	16,859 (-2.9%)	$319 (-1.2%)	0.1%	$18.44	—	COM	78573L106
AEP	AMERICAN ELECTRIC POWER	2,962 (-1.3%)	$342 (+1.2%)	0.1%	$101.98	+15.4%	COM	025537101
R	RYDER SYS INC COM	1,763 (-1.1%)	$337 (+0.3%)	0.1%	$180.37	-0.4%	COM	783549108
CW	CURTISS WRIGHT CORP COM	16,628 (-3.4%)	$9,347 (-0.0%)	2.0%	$243.60	+128.9%	COM	231561101

Unchanged Positions (8)

LITE LUMENTUM HLDGS INC COM 1.1%

Value ($000) $5,178 Shares 14,047 Est. Cost $124.70 Unrealized +106.0%

GS GOLDMAN SACHS GROUP INC COM 1.1%

Value ($000) $5,082 Shares 5,781 Est. Cost $707.76 Unrealized +14.9%

STX SEAGATE TECHNOLOGY HLDNGS PLC 0.6%

Value ($000) $2,900 Shares 10,531 Est. Cost $169.71 Unrealized +52.6%

IBM I B M 1.2%

Value ($000) $5,317 Shares 17,939 Est. Cost $253.90 Unrealized +17.7%

RL RALPH LAUREN CORP CL A 0.4%

Value ($000) $1,878 Shares 5,312 Est. Cost $296.30 Unrealized +14.8%

IDXX IDEXX LABS INC COM 0.5%

Value ($000) $2,420 Shares 3,577 Est. Cost $606.98 Unrealized +12.2%

WELL WELLTOWER INC COM 0.4%

Value ($000) $1,836 Shares 9,894 Est. Cost $140.30 Unrealized +32.9%

— BRIGHTEC INC COM 0.0%

Value ($000) $0 Shares 200,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LITE	LUMENTUM HLDGS INC COM	14,047	$5,178	1.1%	$124.70	+106.0%	COM	55024U109
GS	GOLDMAN SACHS GROUP INC COM	5,781	$5,082	1.1%	$707.76	+14.9%	COM	38141G104
STX	SEAGATE TECHNOLOGY HLDNGS PLC	10,531	$2,900	0.6%	$169.71	+52.6%	COM	G7997R103
IBM	I B M	17,939	$5,317	1.2%	$253.90	+17.7%	COM	459200101
RL	RALPH LAUREN CORP CL A	5,312	$1,878	0.4%	$296.30	+14.8%	COM	751212101
IDXX	IDEXX LABS INC COM	3,577	$2,420	0.5%	$606.98	+12.2%	COM	45168D104
WELL	WELLTOWER INC COM	9,894	$1,836	0.4%	$140.30	+32.9%	COM	95040Q104
—	BRIGHTEC INC COM	200,000	$0	0.0%	—	—	COM	10921P109