GFS Advisors, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DOW	DOW INC	500,000	$11,690	1.4%	$22.78	0.0%	COM	260557103
AMZN	AMAZON COM INC	224,512	$11,400	1.4%	$228.79	0.0%	COM	023135106
UL	UNILEVER PLC	119,696	$7,828	0.9%	$65.40	—	SPON ADR NEW	904767803
UDN	INVESCO DB US DLR INDEX TR	160,000	$2,918	0.3%	$18.24	—	BEARISH FD	46141D104
JEPI	J P MORGAN EXCHANGE TRADED F	46,860	$2,682	0.3%	$57.24	—	EQUITY PREMIUM	46641Q332
JMUB	J P MORGAN EXCHANGE TRADED F	40,600	$2,050	0.2%	$50.50	—	MUNICIPAL ETF	46641Q647
MU	MICRON TECHNOLOGY INC	6,990	$1,995	0.2%	$229.35	0.0%	COM	595112103
PPA	INVESCO EXCHANGE TRADED FD T	10,354	$1,622	0.2%	$156.63	—	AEROSPACE DEFN	46137V100
BMY	BRISTOL-MYERS SQUIBB CO	26,810	$1,446	0.2%	$47.53	0.0%	COM	110122108
EWP	ISHARES INC	25,000	$1,348	0.2%	$53.91	—	MSCI SPAIN ETF	464286764
EWG	ISHARES INC	25,000	$1,063	0.1%	$42.50	—	MSCI GERMANY ETF	464286806
EPP	ISHARES INC	25,000	$1,020	0.1%	$40.81	—	MSCI PAC JP ETF	464286665
ANGL	VANECK ETF TRUST	24,432	$717	0.1%	$29.37	—	FALLEN ANGEL HG	92189F437
DELL	DELL TECHNOLOGIES INC	5,200	$655	0.1%	$140.75	0.0%	CL C	24703L202
CBRL	CRACKER BARREL OLD CTRY STOR	20,000	$508	0.1%	$31.72	0.0%	COM	22410J106
CIBR	FIRST TR EXCHANGE TRADED FD	6,667	$476	0.1%	$71.45	—	NASDAQ CYB ETF	33734X846
MICC	MAGNUM ICE CREAM CO NV	26,933	$430	0.1%	$15.68	0.0%	ORD SHS	N5505D105
MA	MASTERCARD INCORPORATED	725	$414	0.0%	$558.95	0.0%	CL A	57636Q104
MUSA	MURPHY USA INC	978	$395	0.0%	$383.35	0.0%	COM	626755102
ABBV	ABBVIE INC	1,698	$388	0.0%	$227.54	0.0%	COM	00287Y109
ISRG	INTUITIVE SURGICAL INC	650	$368	0.0%	$532.37	0.0%	COM NEW	46120E602
FICO	FAIR ISAAC CORP	200	$338	0.0%	$1721.38	0.0%	COM	303250104
SHY	ISHARES TR	4,044	$335	0.0%	$82.82	—	1 3 YR TREAS BD	464287457
XLP	SELECT SECTOR SPDR TR	3,780	$294	0.0%	$77.68	—	STATE STREET CON	81369Y308
NVO	NOVO-NORDISK A S	5,625	$286	0.0%	$50.88	—	ADR	670100205
ETHA	ISHARES ETHEREUM TR	11,860	$266	0.0%	$22.43	—	SHS	46438R105
ASML	ASML HOLDING N V	244	$261	0.0%	$1069.53	—	N Y REGISTRY SHS	N07059210
DHR	DANAHER CORPORATION	1,130	$259	0.0%	$219.54	0.0%	COM	235851102
FXE	INVESCO CURRENCYSHARES EURO	2,291	$248	0.0%	$108.45	—	EURO SHS	46138K103
CDX	SIMPLIFY EXCHANGE TRADED FUN	10,875	$242	0.0%	$22.27	—	HIGH YIELD ETF	82889N830
IXJ	ISHARES TR	2,250	$219	0.0%	$97.40	—	GLOB HLTHCRE ETF	464287325
CMI	CUMMINS INC	405	$207	0.0%	$466.32	0.0%	COM	231021106
OSCR	OSCAR HEALTH INC	11,350	$163	0.0%	$17.30	0.0%	CL A	687793109

Increased Positions (31)

UNH UNITEDHEALTH GROUP INC 2.0%

Value ($000) $16,973 (+18.6%) Shares 51,416 (+24.1%) Est. Cost $327.80 Unrealized +2.9%

SLV ISHARES SILVER TR 0.5%

Value ($000) $4,521 (+129.2%) Shares 70,184 (+50.7%) Est. Cost $40.46 Unrealized —

NVDA NVIDIA CORPORATION 1.7%

Value ($000) $14,250 (+19.0%) Shares 76,405 (+19.1%) Est. Cost $138.77 Unrealized +34.1%

STWD STARWOOD PPTY TR INC 0.4%

Value ($000) $3,724 (+96.6%) Shares 206,795 (+111.4%) Est. Cost $18.81 Unrealized —

META META PLATFORMS INC 1.0%

Value ($000) $8,045 (+10.2%) Shares 12,188 (+22.6%) Est. Cost $495.63 Unrealized +34.6%

XOM EXXON MOBIL CORP 0.7%

Value ($000) $5,517 (+10.6%) Shares 45,847 (+3.6%) Est. Cost $109.39 Unrealized +5.6%

XLF SELECT SECTOR SPDR TR 0.4%

Value ($000) $3,103 (+13.6%) Shares 56,656 (+11.7%) Est. Cost $49.10 Unrealized —

PANW PALO ALTO NETWORKS INC 0.2%

Value ($000) $1,766 (+21.7%) Shares 9,585 (+34.5%) Est. Cost $183.77 Unrealized +9.8%

V VISA INC 0.2%

Value ($000) $1,988 (+14.3%) Shares 5,669 (+11.3%) Est. Cost $346.32 Unrealized -1.7%

MELI MERCADOLIBRE INC 0.1%

Value ($000) $738 (+46.1%) Shares 367 (+69.9%) Est. Cost $2010.71 Unrealized +4.5%

BIZD VANECK ETF TRUST 0.2%

Value ($000) $1,916 (+13.2%) Shares 135,100 (+19.2%) Est. Cost $15.73 Unrealized —

ORCL ORACLE CORP 0.1%

Value ($000) $600 (+41.9%) Shares 3,077 (+104.7%) Est. Cost $202.75 Unrealized +17.4%

NFLX NETFLIX INC 0.1%

Value ($000) $497 (-23.7%) Shares 5,300 (+876.1%) Est. Cost $103.12 Unrealized +4.5%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.1%

Value ($000) $716 (+27.2%) Shares 2,356 (+16.9%) Est. Cost $186.33 Unrealized —

XLE SELECT SECTOR SPDR TR 0.3%

Value ($000) $2,946 (+5.4%) Shares 65,900 (+110.7%) Est. Cost $67.21 Unrealized —

MTBA SIMPLIFY EXCHANGE TRADED FUN 0.1%

Value ($000) $477 (+41.2%) Shares 9,460 (+41.0%) Est. Cost $50.17 Unrealized —

INDA ISHARES TR 0.1%

Value ($000) $452 (+32.0%) Shares 8,358 (+27.1%) Est. Cost $52.96 Unrealized —

PINK SIMPLIFY EXCHANGE TRADED FUN 0.1%

Value ($000) $531 (+17.1%) Shares 14,510 (+1.5%) Est. Cost $29.73 Unrealized —

PCT PURECYCLE TECHNOLOGIES INC 0.0%

Value ($000) $392 (-15.9%) Shares 45,600 (+28.8%) Est. Cost $10.44 Unrealized +1.7%

EFA ISHARES TR 0.2%

Value ($000) $1,268 (+5.5%) Shares 13,200 (+2.6%) Est. Cost $11.39 Unrealized —

BXSL BLACKSTONE SECD LENDING FD 0.2%

Value ($000) $1,876 (+3.2%) Shares 71,250 (+2.2%) Est. Cost $24.48 Unrealized +6.6%

SHOP SHOPIFY INC 0.0%

Value ($000) $349 (+19.8%) Shares 2,168 (+10.6%) Est. Cost $103.33 Unrealized +55.4%

COIN COINBASE GLOBAL INC 0.0%

Value ($000) $353 (-12.9%) Shares 1,560 (+30.0%) Est. Cost $255.02 Unrealized +16.8%

VPL VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $1,159 (+4.5%) Shares 12,821 (+1.5%) Est. Cost $61.77 Unrealized —

WM WASTE MGMT INC DEL 0.3%

Value ($000) $2,351 (+1.9%) Shares 10,700 (+2.4%) Est. Cost $202.47 Unrealized +5.0%

COST COSTCO WHSL CORP NEW 0.1%

Value ($000) $838 (-4.5%) Shares 972 (+2.5%) Est. Cost $810.30 Unrealized +11.8%

IBIT ISHARES BITCOIN TRUST ETF 0.3%

Value ($000) $2,304 (-1.4%) Shares 46,414 (+29.0%) Est. Cost $48.83 Unrealized —

NKE NIKE INC 1.1%

Value ($000) $8,881 (+0.3%) Shares 139,393 (+9.7%) Est. Cost $75.07 Unrealized -13.5%

LMT LOCKHEED MARTIN CORP 0.1%

Value ($000) $654 (+2.5%) Shares 1,352 (+5.8%) Est. Cost $449.68 Unrealized +5.9%

OBDC BLUE OWL CAPITAL CORPORATION 0.2%

Value ($000) $1,268 (+0.5%) Shares 101,985 (+3.2%) Est. Cost $12.24 Unrealized +0.9%

PFF ISHARES TR 0.0%

Value ($000) $229 (+0.6%) Shares 7,400 (+2.8%) Est. Cost $31.60 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UNH	UNITEDHEALTH GROUP INC	51,416 (+24.1%)	$16,973 (+18.6%)	2.0%	$327.80	+2.9%	COM	91324P102
SLV	ISHARES SILVER TR	70,184 (+50.7%)	$4,521 (+129.2%)	0.5%	$40.46	—	ISHARES	46428Q109
NVDA	NVIDIA CORPORATION	76,405 (+19.1%)	$14,250 (+19.0%)	1.7%	$138.77	+34.1%	COM	67066G104
STWD	STARWOOD PPTY TR INC	206,795 (+111.4%)	$3,724 (+96.6%)	0.4%	$18.81	—	COM	85571B105
META	META PLATFORMS INC	12,188 (+22.6%)	$8,045 (+10.2%)	1.0%	$495.63	+34.6%	CL A	30303M102
XOM	EXXON MOBIL CORP	45,847 (+3.6%)	$5,517 (+10.6%)	0.7%	$109.39	+5.6%	COM	30231G102
XLF	SELECT SECTOR SPDR TR	56,656 (+11.7%)	$3,103 (+13.6%)	0.4%	$49.10	—	STATE STREET FIN	81369Y605
PANW	PALO ALTO NETWORKS INC	9,585 (+34.5%)	$1,766 (+21.7%)	0.2%	$183.77	+9.8%	COM	697435105
V	VISA INC	5,669 (+11.3%)	$1,988 (+14.3%)	0.2%	$346.32	-1.7%	COM CL A	92826C839
MELI	MERCADOLIBRE INC	367 (+69.9%)	$738 (+46.1%)	0.1%	$2010.71	+4.5%	COM	58733R102
BIZD	VANECK ETF TRUST	135,100 (+19.2%)	$1,916 (+13.2%)	0.2%	$15.73	—	BDC INCOME ETF	92189F411
ORCL	ORACLE CORP	3,077 (+104.7%)	$600 (+41.9%)	0.1%	$202.75	+17.4%	COM	68389X105
NFLX	NETFLIX INC	5,300 (+876.1%)	$497 (-23.7%)	0.1%	$103.12	+4.5%	COM	64110L106
TSM	TAIWAN SEMICONDUCTOR MFG LTD	2,356 (+16.9%)	$716 (+27.2%)	0.1%	$186.33	—	SPONSORED ADS	874039100
XLE	SELECT SECTOR SPDR TR	65,900 (+110.7%)	$2,946 (+5.4%)	0.3%	$67.21	—	STATE STREET ENE	81369Y506
MTBA	SIMPLIFY EXCHANGE TRADED FUN	9,460 (+41.0%)	$477 (+41.2%)	0.1%	$50.17	—	MBS ETF	82889N525
INDA	ISHARES TR	8,358 (+27.1%)	$452 (+32.0%)	0.1%	$52.96	—	MSCI INDIA ETF	46429B598
PINK	SIMPLIFY EXCHANGE TRADED FUN	14,510 (+1.5%)	$531 (+17.1%)	0.1%	$29.73	—	HEALTH CARE ETF	82889N772
PCT	PURECYCLE TECHNOLOGIES INC	45,600 (+28.8%)	$392 (-15.9%)	0.0%	$10.44	+1.7%	COM	74623V103
EFA	ISHARES TR	13,200 (+2.6%)	$1,268 (+5.5%)	0.2%	$11.39	—	MSCI EAFE ETF	464287465
BXSL	BLACKSTONE SECD LENDING FD	71,250 (+2.2%)	$1,876 (+3.2%)	0.2%	$24.48	+6.6%	COMMON STOCK	09261X102
SHOP	SHOPIFY INC	2,168 (+10.6%)	$349 (+19.8%)	0.0%	$103.33	+55.4%	CL A SUB VTG SHS	82509L107
COIN	COINBASE GLOBAL INC	1,560 (+30.0%)	$353 (-12.9%)	0.0%	$255.02	+16.8%	COM CL A	19260Q107
VPL	VANGUARD INTL EQUITY INDEX F	12,821 (+1.5%)	$1,159 (+4.5%)	0.1%	$61.77	—	FTSE PACIFIC ETF	922042866
WM	WASTE MGMT INC DEL	10,700 (+2.4%)	$2,351 (+1.9%)	0.3%	$202.47	+5.0%	COM	94106L109
COST	COSTCO WHSL CORP NEW	972 (+2.5%)	$838 (-4.5%)	0.1%	$810.30	+11.8%	COM	22160K105
IBIT	ISHARES BITCOIN TRUST ETF	46,414 (+29.0%)	$2,304 (-1.4%)	0.3%	$48.83	—	SHS BEN INT	46438F101
NKE	NIKE INC	139,393 (+9.7%)	$8,881 (+0.3%)	1.1%	$75.07	-13.5%	CL B	654106103
LMT	LOCKHEED MARTIN CORP	1,352 (+5.8%)	$654 (+2.5%)	0.1%	$449.68	+5.9%	COM	539830109
OBDC	BLUE OWL CAPITAL CORPORATION	101,985 (+3.2%)	$1,268 (+0.5%)	0.2%	$12.24	+0.9%	COM	69121K104
PFF	ISHARES TR	7,400 (+2.8%)	$229 (+0.6%)	0.0%	$31.60	—	PFD AND INCM SEC	464288687

Exited Positions (7)

— UNILEVER PLC 0.9%

Value ($000) $7,983 Shares 134,665 Est. Cost $61.17 Unrealized —

SBUX STARBUCKS CORP 0.1%

Value ($000) $1,037 Shares 12,255 Est. Cost $85.17 Unrealized -1.3%

WBD WARNER BROS DISCOVERY INC 0.1%

Value ($000) $728 Shares 37,252 Est. Cost $9.82 Unrealized +138.1%

DVY ISHARES TR 0.1%

Value ($000) $573 Shares 4,033 Est. Cost $133.81 Unrealized —

KRE SPDR SERIES TRUST 0.1%

Value ($000) $557 Shares 8,800 Est. Cost $51.08 Unrealized —

TOST TOAST INC 0.0%

Value ($000) $365 Shares 10,000 Est. Cost $39.30 Unrealized -8.3%

HYG ISHARES TR 0.0%

Value ($000) $285 Shares 3,507 Est. Cost $10.21 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNILEVER PLC	134,665	$7,983	0.9%	$61.17	—	—	904767704
SBUX	STARBUCKS CORP	12,255	$1,037	0.1%	$85.17	-1.3%	—	855244109
WBD	WARNER BROS DISCOVERY INC	37,252	$728	0.1%	$9.82	+138.1%	—	934423104
DVY	ISHARES TR	4,033	$573	0.1%	$133.81	—	—	464287168
KRE	SPDR SERIES TRUST	8,800	$557	0.1%	$51.08	—	—	78464A698
TOST	TOAST INC	10,000	$365	0.0%	$39.30	-8.3%	—	888787108
HYG	ISHARES TR	3,507	$285	0.0%	$10.21	—	—	464288513

Decreased Positions (42)

GOOGL ALPHABET INC 4.6%

Value ($000) $38,843 (+22.0%) Shares 124,098 (-5.2%) Est. Cost $163.29 Unrealized +74.9%

FDX FEDEX CORP 3.3%

Value ($000) $27,924 (+19.9%) Shares 96,669 (-2.1%) Est. Cost $215.22 Unrealized +21.5%

TV GRUPO TELEVISA S A B 0.2%

Value ($000) $1,301 (-77.4%) Shares 447,000 (-79.1%) Est. Cost $2.19 Unrealized —

MRK MERCK & CO INC 1.0%

Value ($000) $8,364 (-24.4%) Shares 79,462 (-39.7%) Est. Cost $99.17 Unrealized -6.0%

PLTR PALANTIR TECHNOLOGIES INC 0.4%

Value ($000) $3,082 (-42.8%) Shares 17,340 (-41.3%) Est. Cost $30.55 Unrealized +492.6%

SHV ISHARES TR 1.7%

Value ($000) $14,026 (-11.1%) Shares 127,339 (-10.9%) Est. Cost $110.42 Unrealized —

BXMT BLACKSTONE MTG TR INC 0.9%

Value ($000) $7,907 (-15.7%) Shares 413,315 (-18.9%) Est. Cost $18.91 Unrealized —

JPM JPMORGAN CHASE & CO. 0.9%

Value ($000) $7,781 (-14.6%) Shares 24,149 (-16.4%) Est. Cost $252.67 Unrealized +22.5%

MUB ISHARES TR 0.4%

Value ($000) $3,106 (-28.9%) Shares 29,000 (-29.3%) Est. Cost $104.75 Unrealized —

CRM SALESFORCE INC 0.0%

Value ($000) $389 (-75.9%) Shares 1,467 (-78.5%) Est. Cost $262.79 Unrealized -5.6%

PEP PEPSICO INC 1.2%

Value ($000) $9,850 (-8.9%) Shares 68,630 (-10.9%) Est. Cost $157.66 Unrealized -7.5%

INTC INTEL CORP 0.9%

Value ($000) $7,169 (-11.6%) Shares 194,285 (-19.7%) Est. Cost $24.31 Unrealized +55.3%

IAU ISHARES GOLD TR 1.0%

Value ($000) $8,494 (-9.9%) Shares 104,642 (-19.2%) Est. Cost $49.15 Unrealized —

CVX CHEVRON CORP NEW 1.1%

Value ($000) $9,636 (-7.6%) Shares 63,223 (-5.8%) Est. Cost $137.22 Unrealized +10.3%

PFE PFIZER INC 1.2%

Value ($000) $9,843 (-6.1%) Shares 395,311 (-3.9%) Est. Cost $25.12 Unrealized -0.3%

NU NU HLDGS LTD 1.1%

Value ($000) $9,605 (-4.5%) Shares 573,780 (-8.7%) Est. Cost $12.94 Unrealized +24.2%

CX CEMEX SAB DE CV 0.1%

Value ($000) $706 (-38.2%) Shares 61,427 (-51.7%) Est. Cost $6.93 Unrealized —

JNJ JOHNSON & JOHNSON 1.2%

Value ($000) $10,299 (+3.8%) Shares 49,767 (-7.0%) Est. Cost $152.48 Unrealized +29.2%

XBI SPDR SERIES TRUST 0.2%

Value ($000) $2,044 (+18.8%) Shares 16,767 (-2.4%) Est. Cost $99.61 Unrealized —

IYW ISHARES TR 0.0%

Value ($000) $396 (-43.7%) Shares 1,985 (-44.8%) Est. Cost $6.32 Unrealized —

XLG INVESCO EXCHANGE TRADED FD T 0.0%

Value ($000) $302 (-47.7%) Shares 5,100 (-49.3%) Est. Cost $54.87 Unrealized —

SPY SPDR S&P 500 ETF TR 3.9%

Value ($000) $33,101 (+0.7%) Shares 47,500 (-3.8%) Est. Cost $617.86 Unrealized —

KREF KKR REAL ESTATE FIN TR INC 0.2%

Value ($000) $1,733 (-10.9%) Shares 210,870 (-2.5%) Est. Cost $12.36 Unrealized —

— NUVEEN QUALITY MUNCP INCOME 0.7%

Value ($000) $5,813 (-3.5%) Shares 483,570 (-6.1%) Est. Cost $11.61 Unrealized —

GLD SPDR GOLD TR 0.3%

Value ($000) $2,371 (-6.9%) Shares 5,982 (-16.5%) Est. Cost $304.84 Unrealized —

GDX VANECK ETF TRUST 0.3%

Value ($000) $2,473 (+6.9%) Shares 28,833 (-4.8%) Est. Cost $39.64 Unrealized —

MMM 3M CO 0.1%

Value ($000) $1,153 (-10.5%) Shares 7,200 (-13.3%) Est. Cost $128.38 Unrealized +27.1%

ACWI ISHARES TR 3.3%

Value ($000) $27,463 (+0.4%) Shares 194,095 (-1.9%) Est. Cost $120.17 Unrealized —

AVGO BROADCOM INC 0.1%

Value ($000) $527 (-15.8%) Shares 1,522 (-19.7%) Est. Cost $215.92 Unrealized +65.3%

IJH ISHARES TR 1.5%

Value ($000) $12,768 (-0.7%) Shares 193,449 (-1.8%) Est. Cost $63.30 Unrealized —

DIA SPDR DOW JONES INDL AVERAGE 0.5%

Value ($000) $3,964 (+2.2%) Shares 8,248 (-1.4%) Est. Cost $420.67 Unrealized —

NEM NEWMONT CORP 0.1%

Value ($000) $585 (+17.0%) Shares 5,857 (-1.2%) Est. Cost $47.01 Unrealized +91.8%

LLY ELI LILLY & CO 0.0%

Value ($000) $376 (-17.8%) Shares 350 (-41.7%) Est. Cost $697.98 Unrealized +36.9%

VEU VANGUARD INTL EQUITY INDEX F 0.7%

Value ($000) $5,510 (+1.5%) Shares 74,910 (-1.6%) Est. Cost $62.67 Unrealized —

MO ALTRIA GROUP INC 0.1%

Value ($000) $425 (-13.9%) Shares 7,365 (-1.3%) Est. Cost $45.49 Unrealized +30.5%

VSS VANGUARD INTL EQUITY INDEX F 0.5%

Value ($000) $4,022 (-1.6%) Shares 28,062 (-2.2%) Est. Cost $123.87 Unrealized —

BUD ANHEUSER BUSCH INBEV SA/NV 0.2%

Value ($000) $1,270 (+4.9%) Shares 19,830 (-2.3%) Est. Cost $65.06 Unrealized —

VXUS VANGUARD STAR FDS 1.0%

Value ($000) $8,140 (+0.5%) Shares 107,896 (-2.1%) Est. Cost $59.22 Unrealized —

SHEL SHELL PLC 0.3%

Value ($000) $2,329 (+1.2%) Shares 31,692 (-1.5%) Est. Cost $70.42 Unrealized —

ESGU ISHARES TR 0.2%

Value ($000) $2,011 (-1.3%) Shares 13,500 (-3.5%) Est. Cost $126.11 Unrealized —

IEV ISHARES TR 0.0%

Value ($000) $251 (+2.9%) Shares 3,658 (-1.8%) Est. Cost $58.31 Unrealized —

MDY SPDR S&P MIDCAP 400 ETF TR 1.1%

Value ($000) $9,428 (+0.1%) Shares 15,628 (-1.1%) Est. Cost $472.57 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	124,098 (-5.2%)	$38,843 (+22.0%)	4.6%	$163.29	+74.9%	CAP STK CL A	02079K305
FDX	FEDEX CORP	96,669 (-2.1%)	$27,924 (+19.9%)	3.3%	$215.22	+21.5%	COM	31428X106
TV	GRUPO TELEVISA S A B	447,000 (-79.1%)	$1,301 (-77.4%)	0.2%	$2.19	—	SPON ADR REP ORD	40049J206
MRK	MERCK & CO INC	79,462 (-39.7%)	$8,364 (-24.4%)	1.0%	$99.17	-6.0%	COM	58933Y105
PLTR	PALANTIR TECHNOLOGIES INC	17,340 (-41.3%)	$3,082 (-42.8%)	0.4%	$30.55	+492.6%	CL A	69608A108
SHV	ISHARES TR	127,339 (-10.9%)	$14,026 (-11.1%)	1.7%	$110.42	—	TRUST ISHARE 0-1	464288679
BXMT	BLACKSTONE MTG TR INC	413,315 (-18.9%)	$7,907 (-15.7%)	0.9%	$18.91	—	COM CL A	09257W100
JPM	JPMORGAN CHASE & CO.	24,149 (-16.4%)	$7,781 (-14.6%)	0.9%	$252.67	+22.5%	COM	46625H100
MUB	ISHARES TR	29,000 (-29.3%)	$3,106 (-28.9%)	0.4%	$104.75	—	NATIONAL MUN ETF	464288414
CRM	SALESFORCE INC	1,467 (-78.5%)	$389 (-75.9%)	0.0%	$262.79	-5.6%	COM	79466L302
PEP	PEPSICO INC	68,630 (-10.9%)	$9,850 (-8.9%)	1.2%	$157.66	-7.5%	COM	713448108
INTC	INTEL CORP	194,285 (-19.7%)	$7,169 (-11.6%)	0.9%	$24.31	+55.3%	COM	458140100
IAU	ISHARES GOLD TR	104,642 (-19.2%)	$8,494 (-9.9%)	1.0%	$49.15	—	ISHARES NEW	464285204
CVX	CHEVRON CORP NEW	63,223 (-5.8%)	$9,636 (-7.6%)	1.1%	$137.22	+10.3%	COM	166764100
PFE	PFIZER INC	395,311 (-3.9%)	$9,843 (-6.1%)	1.2%	$25.12	-0.3%	COM	717081103
NU	NU HLDGS LTD	573,780 (-8.7%)	$9,605 (-4.5%)	1.1%	$12.94	+24.2%	ORD SHS CL A	G6683N103
CX	CEMEX SAB DE CV	61,427 (-51.7%)	$706 (-38.2%)	0.1%	$6.93	—	SPON ADR NEW	151290889
JNJ	JOHNSON & JOHNSON	49,767 (-7.0%)	$10,299 (+3.8%)	1.2%	$152.48	+29.2%	COM	478160104
XBI	SPDR SERIES TRUST	16,767 (-2.4%)	$2,044 (+18.8%)	0.2%	$99.61	—	STATE STREET SPD	78464A870
IYW	ISHARES TR	1,985 (-44.8%)	$396 (-43.7%)	0.0%	$6.32	—	U.S. TECH ETF	464287721
XLG	INVESCO EXCHANGE TRADED FD T	5,100 (-49.3%)	$302 (-47.7%)	0.0%	$54.87	—	S&P 500 TOP 50	46137V233
SPY	SPDR S&P 500 ETF TR	47,500 (-3.8%)	$33,101 (+0.7%)	3.9%	$617.86	—	TR UNIT	78462F103
KREF	KKR REAL ESTATE FIN TR INC	210,870 (-2.5%)	$1,733 (-10.9%)	0.2%	$12.36	—	COM	48251K100
—	NUVEEN QUALITY MUNCP INCOME	483,570 (-6.1%)	$5,813 (-3.5%)	0.7%	$11.61	—	COM	67066V101
GLD	SPDR GOLD TR	5,982 (-16.5%)	$2,371 (-6.9%)	0.3%	$304.84	—	GOLD SHS	78463V107
GDX	VANECK ETF TRUST	28,833 (-4.8%)	$2,473 (+6.9%)	0.3%	$39.64	—	GOLD MINERS ETF	92189F106
MMM	3M CO	7,200 (-13.3%)	$1,153 (-10.5%)	0.1%	$128.38	+27.1%	COM	88579Y101
ACWI	ISHARES TR	194,095 (-1.9%)	$27,463 (+0.4%)	3.3%	$120.17	—	MSCI ACWI ETF	464288257
AVGO	BROADCOM INC	1,522 (-19.7%)	$527 (-15.8%)	0.1%	$215.92	+65.3%	COM	11135F101
IJH	ISHARES TR	193,449 (-1.8%)	$12,768 (-0.7%)	1.5%	$63.30	—	CORE S&P MCP ETF	464287507
DIA	SPDR DOW JONES INDL AVERAGE	8,248 (-1.4%)	$3,964 (+2.2%)	0.5%	$420.67	—	UT SER 1	78467X109
NEM	NEWMONT CORP	5,857 (-1.2%)	$585 (+17.0%)	0.1%	$47.01	+91.8%	COM	651639106
LLY	ELI LILLY & CO	350 (-41.7%)	$376 (-17.8%)	0.0%	$697.98	+36.9%	COM	532457108
VEU	VANGUARD INTL EQUITY INDEX F	74,910 (-1.6%)	$5,510 (+1.5%)	0.7%	$62.67	—	ALLWRLD EX US	922042775
MO	ALTRIA GROUP INC	7,365 (-1.3%)	$425 (-13.9%)	0.1%	$45.49	+30.5%	COM	02209S103
VSS	VANGUARD INTL EQUITY INDEX F	28,062 (-2.2%)	$4,022 (-1.6%)	0.5%	$123.87	—	FTSE SMCAP ETF	922042718
BUD	ANHEUSER BUSCH INBEV SA/NV	19,830 (-2.3%)	$1,270 (+4.9%)	0.2%	$65.06	—	SPONSORED ADR	03524A108
VXUS	VANGUARD STAR FDS	107,896 (-2.1%)	$8,140 (+0.5%)	1.0%	$59.22	—	VG TL INTL STK F	921909768
SHEL	SHELL PLC	31,692 (-1.5%)	$2,329 (+1.2%)	0.3%	$70.42	—	SPON ADS	780259305
ESGU	ISHARES TR	13,500 (-3.5%)	$2,011 (-1.3%)	0.2%	$126.11	—	ESG AWR MSCI USA	46435G425
IEV	ISHARES TR	3,658 (-1.8%)	$251 (+2.9%)	0.0%	$58.31	—	EUROPE ETF	464287861
MDY	SPDR S&P MIDCAP 400 ETF TR	15,628 (-1.1%)	$9,428 (+0.1%)	1.1%	$472.57	—	UTSER1 S&PDCRP	78467Y107

Unchanged Positions (67)

TSLA TESLA INC 5.0%

Value ($000) $42,376 Shares 65,321 Est. Cost $241.89 Unrealized +83.3%

BABA ALIBABA GROUP HLDG LTD 3.0%

Value ($000) $25,111 Shares 171,311 Est. Cost $85.30 Unrealized —

GOOG ALPHABET INC 1.3%

Value ($000) $11,065 Shares 35,261 Est. Cost $164.85 Unrealized +73.7%

MSFT MICROSOFT CORP 3.3%

Value ($000) $28,165 Shares 58,237 Est. Cost $432.38 Unrealized +15.8%

BBVA BANCO BILBAO VIZCAYA ARGENTA 0.9%

Value ($000) $7,401 Shares 317,500 Est. Cost $10.84 Unrealized —

WMT WALMART INC 1.3%

Value ($000) $11,274 Shares 101,197 Est. Cost $72.47 Unrealized +47.9%

VGK VANGUARD INTL EQUITY INDEX F 1.5%

Value ($000) $12,865 Shares 153,871 Est. Cost $71.54 Unrealized —

CPNG COUPANG INC 0.2%

Value ($000) $1,539 Shares 65,235 Est. Cost $34.05 Unrealized -16.4%

VWO VANGUARD INTL EQUITY INDEX F 3.2%

Value ($000) $26,591 Shares 494,618 Est. Cost $47.52 Unrealized —

FEZ SPDR INDEX SHS FDS 1.2%

Value ($000) $10,124 Shares 157,222 Est. Cost $59.73 Unrealized —

PG PROCTER AND GAMBLE CO 0.6%

Value ($000) $4,675 Shares 32,622 Est. Cost $164.13 Unrealized -10.3%

C CITIGROUP INC 0.3%

Value ($000) $2,666 Shares 22,845 Est. Cost $65.38 Unrealized +58.5%

IVV ISHARES TR 1.8%

Value ($000) $14,901 Shares 21,755 Est. Cost $283.50 Unrealized —

VTI VANGUARD INDEX FDS 2.0%

Value ($000) $16,597 Shares 49,502 Est. Cost $289.82 Unrealized —

KHC KRAFT HEINZ CO 0.4%

Value ($000) $3,325 Shares 137,125 Est. Cost $26.66 Unrealized -7.6%

DIS DISNEY WALT CO 3.8%

Value ($000) $32,338 Shares 284,243 Est. Cost $91.57 Unrealized +19.6%

TEVA TEVA PHARMACEUTICAL INDS LTD 0.1%

Value ($000) $624 Shares 20,000 Est. Cost $20.20 Unrealized —

CSCO CISCO SYS INC 0.2%

Value ($000) $1,846 Shares 23,964 Est. Cost $55.37 Unrealized +33.3%

AAXJ ISHARES TR 1.2%

Value ($000) $10,164 Shares 109,145 Est. Cost $66.61 Unrealized —

TM TOYOTA MOTOR CORP 0.2%

Value ($000) $1,752 Shares 8,185 Est. Cost $135.34 Unrealized —

SONO SONOS INC 0.2%

Value ($000) $1,756 Shares 100,000 Est. Cost $13.39 Unrealized +30.2%

RSP INVESCO EXCHANGE TRADED FD T 2.0%

Value ($000) $16,617 Shares 86,748 Est. Cost $181.74 Unrealized —

F FORD MTR CO 0.2%

Value ($000) $1,312 Shares 100,000 Est. Cost $10.44 Unrealized +23.0%

VO VANGUARD INDEX FDS 1.1%

Value ($000) $9,561 Shares 32,945 Est. Cost $261.83 Unrealized —

VUG VANGUARD INDEX FDS 0.8%

Value ($000) $6,387 Shares 13,091 Est. Cost $410.47 Unrealized —

UBER UBER TECHNOLOGIES INC 0.1%

Value ($000) $531 Shares 6,500 Est. Cost $71.41 Unrealized +26.1%

VTV VANGUARD INDEX FDS 0.5%

Value ($000) $3,905 Shares 20,445 Est. Cost $169.29 Unrealized —

IWD ISHARES TR 0.3%

Value ($000) $2,691 Shares 12,792 Est. Cost $188.39 Unrealized —

ARRY ARRAY TECHNOLOGIES INC 0.1%

Value ($000) $738 Shares 80,000 Est. Cost $8.25 Unrealized +4.0%

DXJ WISDOMTREE TR 0.1%

Value ($000) $750 Shares 5,200 Est. Cost $59.47 Unrealized —

VB VANGUARD INDEX FDS 0.6%

Value ($000) $5,462 Shares 21,175 Est. Cost $232.64 Unrealized —

ET ENERGY TRANSFER L P 0.2%

Value ($000) $1,797 Shares 109,000 Est. Cost $16.68 Unrealized —

EWJ ISHARES INC 2.7%

Value ($000) $22,699 Shares 281,135 Est. Cost $63.72 Unrealized —

EPOL ISHARES TR 0.1%

Value ($000) $704 Shares 20,000 Est. Cost $20.85 Unrealized —

T AT&T INC 0.0%

Value ($000) $410 Shares 16,515 Est. Cost $26.96 Unrealized -6.2%

GS GOLDMAN SACHS GROUP INC 0.1%

Value ($000) $542 Shares 617 Est. Cost $547.03 Unrealized +48.7%

EFV ISHARES TR 0.1%

Value ($000) $988 Shares 13,831 Est. Cost $63.47 Unrealized —

WFC WELLS FARGO CO NEW 0.1%

Value ($000) $448 Shares 4,812 Est. Cost $53.65 Unrealized +61.5%

IWP ISHARES TR 0.1%

Value ($000) $1,096 Shares 8,000 Est. Cost $114.04 Unrealized —

EPD ENTERPRISE PRODS PARTNERS L 0.2%

Value ($000) $1,683 Shares 52,500 Est. Cost $29.34 Unrealized —

IJR ISHARES TR 2.2%

Value ($000) $18,202 Shares 151,458 Est. Cost $115.28 Unrealized —

ALLY ALLY FINL INC 0.0%

Value ($000) $299 Shares 6,600 Est. Cost $34.81 Unrealized +17.2%

IJS ISHARES TR 0.2%

Value ($000) $1,441 Shares 12,672 Est. Cost $105.97 Unrealized —

ADBE ADOBE INC 0.8%

Value ($000) $6,919 Shares 19,769 Est. Cost $440.55 Unrealized -22.8%

QCOM QUALCOMM INC 0.2%

Value ($000) $1,338 Shares 7,820 Est. Cost $169.97 Unrealized +0.5%

SAN BANCO SANTANDER SA 0.0%

Value ($000) $321 Shares 27,358 Est. Cost $4.55 Unrealized —

BOTZ GLOBAL X FDS 0.2%

Value ($000) $1,584 Shares 43,724 Est. Cost $32.10 Unrealized —

DEM WISDOMTREE TR 0.3%

Value ($000) $2,203 Shares 47,155 Est. Cost $40.50 Unrealized —

SLYV SPDR SERIES TRUST 0.1%

Value ($000) $1,010 Shares 11,105 Est. Cost $83.67 Unrealized —

VBR VANGUARD INDEX FDS 0.2%

Value ($000) $1,433 Shares 6,764 Est. Cost $198.20 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.1%

Value ($000) $510 Shares 8,159 Est. Cost $56.99 Unrealized —

VOO VANGUARD INDEX FDS 0.1%

Value ($000) $853 Shares 1,360 Est. Cost $539.24 Unrealized —

EEM ISHARES TR 0.1%

Value ($000) $760 Shares 13,900 Est. Cost $44.32 Unrealized —

CVS CVS HEALTH CORP 0.0%

Value ($000) $286 Shares 3,600 Est. Cost $60.92 Unrealized +29.1%

VNQ VANGUARD INDEX FDS 0.1%

Value ($000) $427 Shares 4,827 Est. Cost $89.13 Unrealized —

TELFY TELEFONICA S A 0.0%

Value ($000) $51 Shares 12,666 Est. Cost $4.59 Unrealized —

SNY SANOFI SA 0.1%

Value ($000) $485 Shares 10,000 Est. Cost $56.81 Unrealized —

STZ CONSTELLATION BRANDS INC 0.1%

Value ($000) $450 Shares 3,260 Est. Cost $157.52 Unrealized -13.1%

SCZ ISHARES TR 0.1%

Value ($000) $1,019 Shares 13,143 Est. Cost $67.09 Unrealized —

IGE ISHARES TR 0.1%

Value ($000) $461 Shares 9,180 Est. Cost $43.80 Unrealized —

GWX SPDR INDEX SHS FDS 0.1%

Value ($000) $493 Shares 12,055 Est. Cost $37.16 Unrealized —

AGG ISHARES TR 0.1%

Value ($000) $519 Shares 5,200 Est. Cost $110.65 Unrealized —

VXF VANGUARD INDEX FDS 0.2%

Value ($000) $1,594 Shares 7,622 Est. Cost $189.95 Unrealized —

IGF ISHARES TR 0.0%

Value ($000) $258 Shares 4,200 Est. Cost $0.33 Unrealized —

USFR WISDOMTREE TR 0.1%

Value ($000) $767 Shares 15,240 Est. Cost $50.24 Unrealized —

CGBD CARLYLE SECURED LENDING INC 0.1%

Value ($000) $621 Shares 49,700 Est. Cost $12.97 Unrealized -7.0%

VDE VANGUARD WORLD FD 0.0%

Value ($000) $227 Shares 1,800 Est. Cost $121.11 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSLA	TESLA INC	65,321	$42,376	5.0%	$241.89	+83.3%	COM	88160R101
BABA	ALIBABA GROUP HLDG LTD	171,311	$25,111	3.0%	$85.30	—	SPONSORED ADS	01609W102
GOOG	ALPHABET INC	35,261	$11,065	1.3%	$164.85	+73.7%	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	58,237	$28,165	3.3%	$432.38	+15.8%	COM	594918104
BBVA	BANCO BILBAO VIZCAYA ARGENTA	317,500	$7,401	0.9%	$10.84	—	SPONSORED ADR	05946K101
WMT	WALMART INC	101,197	$11,274	1.3%	$72.47	+47.9%	COM	931142103
VGK	VANGUARD INTL EQUITY INDEX F	153,871	$12,865	1.5%	$71.54	—	FTSE EUROPE ETF	922042874
CPNG	COUPANG INC	65,235	$1,539	0.2%	$34.05	-16.4%	CL A	22266T109
VWO	VANGUARD INTL EQUITY INDEX F	494,618	$26,591	3.2%	$47.52	—	FTSE EMR MKT ETF	922042858
FEZ	SPDR INDEX SHS FDS	157,222	$10,124	1.2%	$59.73	—	EURO STOXX 50	78463X202
PG	PROCTER AND GAMBLE CO	32,622	$4,675	0.6%	$164.13	-10.3%	COM	742718109
C	CITIGROUP INC	22,845	$2,666	0.3%	$65.38	+58.5%	COM NEW	172967424
IVV	ISHARES TR	21,755	$14,901	1.8%	$283.50	—	CORE S&P500 ETF	464287200
VTI	VANGUARD INDEX FDS	49,502	$16,597	2.0%	$289.82	—	TOTAL STK MKT	922908769
KHC	KRAFT HEINZ CO	137,125	$3,325	0.4%	$26.66	-7.6%	COM	500754106
DIS	DISNEY WALT CO	284,243	$32,338	3.8%	$91.57	+19.6%	COM	254687106
TEVA	TEVA PHARMACEUTICAL INDS LTD	20,000	$624	0.1%	$20.20	—	SPONSORED ADS	881624209
CSCO	CISCO SYS INC	23,964	$1,846	0.2%	$55.37	+33.3%	COM	17275R102
AAXJ	ISHARES TR	109,145	$10,164	1.2%	$66.61	—	MSCI AC ASIA ETF	464288182
TM	TOYOTA MOTOR CORP	8,185	$1,752	0.2%	$135.34	—	ADS	892331307
SONO	SONOS INC	100,000	$1,756	0.2%	$13.39	+30.2%	COM	83570H108
RSP	INVESCO EXCHANGE TRADED FD T	86,748	$16,617	2.0%	$181.74	—	S&P500 EQL WGT	46137V357
F	FORD MTR CO	100,000	$1,312	0.2%	$10.44	+23.0%	COM	345370860
VO	VANGUARD INDEX FDS	32,945	$9,561	1.1%	$261.83	—	MID CAP ETF	922908629
VUG	VANGUARD INDEX FDS	13,091	$6,387	0.8%	$410.47	—	GROWTH ETF	922908736
UBER	UBER TECHNOLOGIES INC	6,500	$531	0.1%	$71.41	+26.1%	COM	90353T100
VTV	VANGUARD INDEX FDS	20,445	$3,905	0.5%	$169.29	—	VALUE ETF	922908744
IWD	ISHARES TR	12,792	$2,691	0.3%	$188.39	—	RUS 1000 VAL ETF	464287598
ARRY	ARRAY TECHNOLOGIES INC	80,000	$738	0.1%	$8.25	+4.0%	COM SHS	04271T100
DXJ	WISDOMTREE TR	5,200	$750	0.1%	$59.47	—	JAPN HEDGE EQT	97717W851
VB	VANGUARD INDEX FDS	21,175	$5,462	0.6%	$232.64	—	SMALL CP ETF	922908751
ET	ENERGY TRANSFER L P	109,000	$1,797	0.2%	$16.68	—	COM UT LTD PTN	29273V100
EWJ	ISHARES INC	281,135	$22,699	2.7%	$63.72	—	MSCI JAPAN ETF	46434G822
EPOL	ISHARES TR	20,000	$704	0.1%	$20.85	—	MSCI POLAND ETF	46429B606
T	AT&T INC	16,515	$410	0.0%	$26.96	-6.2%	COM	00206R102
GS	GOLDMAN SACHS GROUP INC	617	$542	0.1%	$547.03	+48.7%	COM	38141G104
EFV	ISHARES TR	13,831	$988	0.1%	$63.47	—	EAFE VALUE ETF	464288877
WFC	WELLS FARGO CO NEW	4,812	$448	0.1%	$53.65	+61.5%	COM	949746101
IWP	ISHARES TR	8,000	$1,096	0.1%	$114.04	—	RUS MD CP GR ETF	464287481
EPD	ENTERPRISE PRODS PARTNERS L	52,500	$1,683	0.2%	$29.34	—	COM	293792107
IJR	ISHARES TR	151,458	$18,202	2.2%	$115.28	—	CORE S&P SCP ETF	464287804
ALLY	ALLY FINL INC	6,600	$299	0.0%	$34.81	+17.2%	COM	02005N100
IJS	ISHARES TR	12,672	$1,441	0.2%	$105.97	—	SP SMCP600VL ETF	464287879
ADBE	ADOBE INC	19,769	$6,919	0.8%	$440.55	-22.8%	COM	00724F101
QCOM	QUALCOMM INC	7,820	$1,338	0.2%	$169.97	+0.5%	COM	747525103
SAN	BANCO SANTANDER SA	27,358	$321	0.0%	$4.55	—	ADR	05964H105
BOTZ	GLOBAL X FDS	43,724	$1,584	0.2%	$32.10	—	RBTCS ARTFL INTE	37954Y715
DEM	WISDOMTREE TR	47,155	$2,203	0.3%	$40.50	—	EMER MKT HIGH FD	97717W315
SLYV	SPDR SERIES TRUST	11,105	$1,010	0.1%	$83.67	—	STATE STREET SPD	78464A300
VBR	VANGUARD INDEX FDS	6,764	$1,433	0.2%	$198.20	—	SM CP VAL ETF	922908611
VEA	VANGUARD TAX-MANAGED FDS	8,159	$510	0.1%	$56.99	—	VAN FTSE DEV MKT	921943858
VOO	VANGUARD INDEX FDS	1,360	$853	0.1%	$539.24	—	S&P 500 ETF SHS	922908363
EEM	ISHARES TR	13,900	$760	0.1%	$44.32	—	MSCI EMG MKT ETF	464287234
CVS	CVS HEALTH CORP	3,600	$286	0.0%	$60.92	+29.1%	COM	126650100
VNQ	VANGUARD INDEX FDS	4,827	$427	0.1%	$89.13	—	REAL ESTATE ETF	922908553
TELFY	TELEFONICA S A	12,666	$51	0.0%	$4.59	—	SPONSORED ADR	879382208
SNY	SANOFI SA	10,000	$485	0.1%	$56.81	—	SPONSORED ADR	80105N105
STZ	CONSTELLATION BRANDS INC	3,260	$450	0.1%	$157.52	-13.1%	CL A	21036P108
SCZ	ISHARES TR	13,143	$1,019	0.1%	$67.09	—	EAFE SML CP ETF	464288273
IGE	ISHARES TR	9,180	$461	0.1%	$43.80	—	NORTH AMERN NAT	464287374
GWX	SPDR INDEX SHS FDS	12,055	$493	0.1%	$37.16	—	S&P INTL SMLCP	78463X871
AGG	ISHARES TR	5,200	$519	0.1%	$110.65	—	CORE US AGGBD ET	464287226
VXF	VANGUARD INDEX FDS	7,622	$1,594	0.2%	$189.95	—	EXTEND MKT ETF	922908652
IGF	ISHARES TR	4,200	$258	0.0%	$0.33	—	GLB INFRASTR ETF	464288372
USFR	WISDOMTREE TR	15,240	$767	0.1%	$50.24	—	FLOATNG RAT TREA	97717Y527
CGBD	CARLYLE SECURED LENDING INC	49,700	$621	0.1%	$12.97	-7.0%	COM	872280102
VDE	VANGUARD WORLD FD	1,800	$227	0.0%	$121.11	—	ENERGY ETF	92204A306