David R. Rahn & Associates Inc. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EMBX	VANECK FDS	190,349	$9,637	2.3%	$50.63	—	EMERGING MARKETS	92107P772
AMGN	AMGEN INC	28,909	$9,462	2.3%	$315.95	0.0%	COM	031162100
EWG	ISHARES INC	131,912	$5,606	1.3%	$42.50	—	MSCI GERMANY ETF	464286806
EEM	ISHARES TR	81,554	$4,462	1.1%	$54.71	—	MSCI EMG MKT ETF	464287234
AOR	ISHARES TR	34,207	$2,224	0.5%	$65.01	—	CORE 60/40 BALAN	464289867
VTV	VANGUARD INDEX FDS	10,541	$2,013	0.5%	$190.99	—	VALUE ETF	922908744
IBIT	ISHARES BITCOIN TRUST ETF	13,219	$656	0.2%	$49.65	—	SHS BEN INT	46438F101
GE	GE AEROSPACE	2,059	$634	0.2%	$300.80	0.0%	COM NEW	369604301
FXE	INVESCO CURRENCYSHARES EURO	4,959	$538	0.1%	$108.45	—	EURO SHS	46138K103
XOM	EXXON MOBIL CORP	4,257	$512	0.1%	$115.49	0.0%	COM	30231G102
KWEB	KRANESHARES TRUST	13,824	$471	0.1%	$34.05	—	CSI CHI INTERNET	500767306
QQQM	INVESCO EXCH TRADED FD TR II	1,660	$420	0.1%	$252.92	—	NASDAQ 100 ETF	46138G649
RGLD	ROYAL GOLD INC	1,694	$377	0.1%	$198.37	0.0%	COM	780287108
HWM	HOWMET AEROSPACE INC	1,708	$350	0.1%	$199.00	0.0%	COM	443201108
WCN	WASTE CONNECTIONS INC	1,817	$319	0.1%	$172.81	0.0%	COM	94106B101
WRB	BERKLEY W R CORP	4,010	$281	0.1%	$72.74	0.0%	COM	084423102
XME	SPDR SERIES TRUST	2,607	$270	0.1%	$103.61	—	STATE STREET SPD	78464A755
CNX	CNX RES CORP	6,340	$233	0.1%	$35.81	0.0%	COM	12653C108
AGI	ALAMOS GOLD INC NEW	5,338	$206	0.0%	$34.84	0.0%	COM CL A	011532108

Increased Positions (28)

LLY ELI LILLY & CO 3.7%

Value ($000) $15,285 (+283.8%) Shares 14,223 (+172.5%) Est. Cost $711.27 Unrealized +34.3%

FXF INVESCO CURRENCYSHARES SWISS 2.2%

Value ($000) $9,352 (+442.7%) Shares 83,796 (+440.9%) Est. Cost $111.64 Unrealized —

SMH VANECK ETF TRUST 4.3%

Value ($000) $18,007 (+33.7%) Shares 50,002 (+21.2%) Est. Cost $276.62 Unrealized —

INDA ISHARES TR 1.0%

Value ($000) $4,332 (+1734.9%) Shares 80,150 (+1667.4%) Est. Cost $53.96 Unrealized —

SLV ISHARES SILVER TR 1.3%

Value ($000) $5,549 (+180.2%) Shares 86,141 (+84.3%) Est. Cost $44.56 Unrealized —

TDG TRANSDIGM GROUP INC 0.9%

Value ($000) $3,700 (+312.8%) Shares 2,782 (+309.1%) Est. Cost $1280.47 Unrealized +2.4%

MOAT VANECK ETF TRUST 1.2%

Value ($000) $5,010 (+35.7%) Shares 48,374 (+29.8%) Est. Cost $84.76 Unrealized —

IEMG ISHARES INC 1.8%

Value ($000) $7,537 (+15.7%) Shares 112,119 (+13.5%) Est. Cost $58.32 Unrealized —

REMX VANECK ETF TRUST 1.6%

Value ($000) $6,862 (+16.1%) Shares 92,834 (+3.4%) Est. Cost $66.08 Unrealized —

IAU ISHARES GOLD TR 1.0%

Value ($000) $4,283 (+19.3%) Shares 52,769 (+7.0%) Est. Cost $53.00 Unrealized —

QQQ INVESCO QQQ TR 0.5%

Value ($000) $2,135 (+44.7%) Shares 3,476 (+41.4%) Est. Cost $538.49 Unrealized —

SPY SPDR S&P 500 ETF TR 0.4%

Value ($000) $1,684 (+63.4%) Shares 2,470 (+59.6%) Est. Cost $576.76 Unrealized —

GEV GE VERNOVA INC 0.5%

Value ($000) $1,926 (+35.4%) Shares 2,947 (+27.4%) Est. Cost $352.96 Unrealized +72.6%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.2%

Value ($000) $1,009 (+38.6%) Shares 3,319 (+27.4%) Est. Cost $186.64 Unrealized —

CNQ CANADIAN NAT RES LTD 0.2%

Value ($000) $720 (+44.4%) Shares 21,259 (+36.3%) Est. Cost $30.67 Unrealized +5.7%

RAAX VANECK ETF TRUST 0.7%

Value ($000) $3,102 (+7.0%) Shares 88,819 (+5.6%) Est. Cost $29.06 Unrealized —

SIL GLOBAL X FDS 0.2%

Value ($000) $1,044 (+23.9%) Shares 12,502 (+6.3%) Est. Cost $72.33 Unrealized —

V VISA INC 0.5%

Value ($000) $2,177 (+9.2%) Shares 6,207 (+6.2%) Est. Cost $263.44 Unrealized +29.2%

NFLX NETFLIX INC 0.1%

Value ($000) $591 (-21.8%) Shares 6,300 (+900.0%) Est. Cost $102.73 Unrealized +4.9%

DIVO AMPLIFY ETF TR 1.0%

Value ($000) $4,295 (+2.8%) Shares 96,527 (+3.0%) Est. Cost $39.06 Unrealized —

HEI HEICO CORP NEW 0.4%

Value ($000) $1,782 (+5.8%) Shares 5,507 (+5.6%) Est. Cost $222.70 Unrealized +41.9%

JNJ JOHNSON & JOHNSON 0.2%

Value ($000) $636 (+16.0%) Shares 3,075 (+3.9%) Est. Cost $151.92 Unrealized +29.7%

DISV DIMENSIONAL ETF TRUST 0.2%

Value ($000) $657 (+15.2%) Shares 17,299 (+8.2%) Est. Cost $29.79 Unrealized —

XLU SELECT SECTOR SPDR TR 1.9%

Value ($000) $8,026 (-0.6%) Shares 187,998 (+103.0%) Est. Cost $55.69 Unrealized —

PWRD TCW ETF TRUST 1.7%

Value ($000) $6,898 (+0.7%) Shares 71,735 (+2.3%) Est. Cost $67.49 Unrealized —

XLK SELECT SECTOR SPDR TR 0.1%

Value ($000) $617 (+2.8%) Shares 4,288 (+101.2%) Est. Cost $184.85 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 0.2%

Value ($000) $934 (-0.7%) Shares 5,255 (+1.9%) Est. Cost $41.19 Unrealized +339.5%

XLY SELECT SECTOR SPDR TR 0.1%

Value ($000) $230 (-0.0%) Shares 1,926 (+100.6%) Est. Cost $168.22 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	14,223 (+172.5%)	$15,285 (+283.8%)	3.7%	$711.27	+34.3%	COM	532457108
FXF	INVESCO CURRENCYSHARES SWISS	83,796 (+440.9%)	$9,352 (+442.7%)	2.2%	$111.64	—	SWISS FRANC	46138R108
SMH	VANECK ETF TRUST	50,002 (+21.2%)	$18,007 (+33.7%)	4.3%	$276.62	—	SEMICONDUCTR ETF	92189F676
INDA	ISHARES TR	80,150 (+1667.4%)	$4,332 (+1734.9%)	1.0%	$53.96	—	MSCI INDIA ETF	46429B598
SLV	ISHARES SILVER TR	86,141 (+84.3%)	$5,549 (+180.2%)	1.3%	$44.56	—	ISHARES	46428Q109
TDG	TRANSDIGM GROUP INC	2,782 (+309.1%)	$3,700 (+312.8%)	0.9%	$1280.47	+2.4%	COM	893641100
MOAT	VANECK ETF TRUST	48,374 (+29.8%)	$5,010 (+35.7%)	1.2%	$84.76	—	MRNGSTR WDE MOAT	92189F643
IEMG	ISHARES INC	112,119 (+13.5%)	$7,537 (+15.7%)	1.8%	$58.32	—	CORE MSCI EMKT	46434G103
REMX	VANECK ETF TRUST	92,834 (+3.4%)	$6,862 (+16.1%)	1.6%	$66.08	—	RARE EARTH AND S	92189H805
IAU	ISHARES GOLD TR	52,769 (+7.0%)	$4,283 (+19.3%)	1.0%	$53.00	—	ISHARES NEW	464285204
QQQ	INVESCO QQQ TR	3,476 (+41.4%)	$2,135 (+44.7%)	0.5%	$538.49	—	UNIT SER 1	46090E103
SPY	SPDR S&P 500 ETF TR	2,470 (+59.6%)	$1,684 (+63.4%)	0.4%	$576.76	—	TR UNIT	78462F103
GEV	GE VERNOVA INC	2,947 (+27.4%)	$1,926 (+35.4%)	0.5%	$352.96	+72.6%	COM	36828A101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	3,319 (+27.4%)	$1,009 (+38.6%)	0.2%	$186.64	—	SPONSORED ADS	874039100
CNQ	CANADIAN NAT RES LTD	21,259 (+36.3%)	$720 (+44.4%)	0.2%	$30.67	+5.7%	COM	136385101
RAAX	VANECK ETF TRUST	88,819 (+5.6%)	$3,102 (+7.0%)	0.7%	$29.06	—	REAL ASSETS ETF	92189F130
SIL	GLOBAL X FDS	12,502 (+6.3%)	$1,044 (+23.9%)	0.2%	$72.33	—	GLOBAL X SILVER	37954Y848
V	VISA INC	6,207 (+6.2%)	$2,177 (+9.2%)	0.5%	$263.44	+29.2%	COM CL A	92826C839
NFLX	NETFLIX INC	6,300 (+900.0%)	$591 (-21.8%)	0.1%	$102.73	+4.9%	COM	64110L106
DIVO	AMPLIFY ETF TR	96,527 (+3.0%)	$4,295 (+2.8%)	1.0%	$39.06	—	CWP ENHANCED DIV	032108409
HEI	HEICO CORP NEW	5,507 (+5.6%)	$1,782 (+5.8%)	0.4%	$222.70	+41.9%	COM	422806109
JNJ	JOHNSON & JOHNSON	3,075 (+3.9%)	$636 (+16.0%)	0.2%	$151.92	+29.7%	COM	478160104
DISV	DIMENSIONAL ETF TRUST	17,299 (+8.2%)	$657 (+15.2%)	0.2%	$29.79	—	INTL SMALL CAP V	25434V781
XLU	SELECT SECTOR SPDR TR	187,998 (+103.0%)	$8,026 (-0.6%)	1.9%	$55.69	—	STATE STREET UTI	81369Y886
PWRD	TCW ETF TRUST	71,735 (+2.3%)	$6,898 (+0.7%)	1.7%	$67.49	—	TRANSFORM SYSTEM	29287L205
XLK	SELECT SECTOR SPDR TR	4,288 (+101.2%)	$617 (+2.8%)	0.1%	$184.85	—	STATE STREET TEC	81369Y803
PLTR	PALANTIR TECHNOLOGIES INC	5,255 (+1.9%)	$934 (-0.7%)	0.2%	$41.19	+339.5%	CL A	69608A108
XLY	SELECT SECTOR SPDR TR	1,926 (+100.6%)	$230 (-0.0%)	0.1%	$168.22	—	STATE STREET CON	81369Y407

Exited Positions (13)

IGV ISHARES TR 2.4%

Value ($000) $9,828 Shares 85,450 Est. Cost $109.50 Unrealized —

FDN FIRST TR EXCHANGE-TRADED FD 1.8%

Value ($000) $7,563 Shares 27,025 Est. Cost $269.33 Unrealized —

AOK ISHARES TR 0.5%

Value ($000) $2,071 Shares 51,559 Est. Cost $40.16 Unrealized —

TIP ISHARES TR 0.4%

Value ($000) $1,603 Shares 14,414 Est. Cost $110.31 Unrealized —

RSG REPUBLIC SVCS INC 0.2%

Value ($000) $725 Shares 3,158 Est. Cost $213.92 Unrealized +0.3%

MRSH MARSH & MCLENNAN COS INC 0.1%

Value ($000) $445 Shares 2,207 Est. Cost $204.01 Unrealized -8.6%

— SANDSTORM GOLD LTD 0.1%

Value ($000) $313 Shares 25,000 Est. Cost $4.66 Unrealized —

BP BP PLC 0.1%

Value ($000) $283 Shares 8,203 Est. Cost $29.93 Unrealized —

XLE SELECT SECTOR SPDR TR 0.1%

Value ($000) $279 Shares 3,128 Est. Cost $89.34 Unrealized —

BWXT BWX TECHNOLOGIES INC 0.1%

Value ($000) $265 Shares 1,439 Est. Cost $116.37 Unrealized +61.1%

OXY OCCIDENTAL PETE CORP 0.1%

Value ($000) $250 Shares 5,289 Est. Cost $44.74 Unrealized -7.1%

ETN EATON CORP PLC 0.1%

Value ($000) $228 Shares 608 Est. Cost $306.71 Unrealized +15.5%

GOVT ISHARES TR 0.1%

Value ($000) $211 Shares 9,141 Est. Cost $22.72 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IGV	ISHARES TR	85,450	$9,828	2.4%	$109.50	—	—	464287515
FDN	FIRST TR EXCHANGE-TRADED FD	27,025	$7,563	1.8%	$269.33	—	—	33733E302
AOK	ISHARES TR	51,559	$2,071	0.5%	$40.16	—	—	464289883
TIP	ISHARES TR	14,414	$1,603	0.4%	$110.31	—	—	464287176
RSG	REPUBLIC SVCS INC	3,158	$725	0.2%	$213.92	+0.3%	—	760759100
MRSH	MARSH & MCLENNAN COS INC	2,207	$445	0.1%	$204.01	-8.6%	—	571748102
—	SANDSTORM GOLD LTD	25,000	$313	0.1%	$4.66	—	—	80013R206
BP	BP PLC	8,203	$283	0.1%	$29.93	—	—	055622104
XLE	SELECT SECTOR SPDR TR	3,128	$279	0.1%	$89.34	—	—	81369Y506
BWXT	BWX TECHNOLOGIES INC	1,439	$265	0.1%	$116.37	+61.1%	—	05605H100
OXY	OCCIDENTAL PETE CORP	5,289	$250	0.1%	$44.74	-7.1%	—	674599105
ETN	EATON CORP PLC	608	$228	0.1%	$306.71	+15.5%	—	G29183103
GOVT	ISHARES TR	9,141	$211	0.1%	$22.72	—	—	46429B267

Decreased Positions (35)

BWZ SPDR SERIES TRUST 0.3%

Value ($000) $1,413 (-94.0%) Shares 51,535 (-93.9%) Est. Cost $27.60 Unrealized —

GOOGL ALPHABET INC 10.4%

Value ($000) $43,407 (+21.2%) Shares 138,681 (-5.8%) Est. Cost $113.18 Unrealized +152.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.7%

Value ($000) $2,834 (-70.1%) Shares 5,638 (-70.1%) Est. Cost $436.73 Unrealized +13.9%

IEF ISHARES TR 0.6%

Value ($000) $2,692 (-70.1%) Shares 27,994 (-70.0%) Est. Cost $96.46 Unrealized —

GOOG ALPHABET INC 5.5%

Value ($000) $22,995 (+27.1%) Shares 73,281 (-1.3%) Est. Cost $114.19 Unrealized +150.7%

GRW TCW ETF TRUST 0.0%

Value ($000) $209 (-95.6%) Shares 6,706 (-95.5%) Est. Cost $34.06 Unrealized —

GSST GOLDMAN SACHS ETF TR 1.3%

Value ($000) $5,265 (-43.6%) Shares 104,321 (-43.3%) Est. Cost $50.53 Unrealized —

HODL VANECK BITCOIN ETF 1.1%

Value ($000) $4,522 (-43.8%) Shares 182,839 (-26.5%) Est. Cost $44.12 Unrealized —

SHV ISHARES TR 0.2%

Value ($000) $846 (-78.5%) Shares 7,683 (-78.5%) Est. Cost $110.39 Unrealized —

KROP GLOBAL X FDS 0.4%

Value ($000) $1,487 (-64.2%) Shares 49,014 (-62.8%) Est. Cost $31.52 Unrealized —

GDX VANECK ETF TRUST 7.3%

Value ($000) $30,560 (-5.4%) Shares 356,305 (-15.8%) Est. Cost $45.01 Unrealized —

GLD SPDR GOLD TR 4.1%

Value ($000) $17,330 (+9.9%) Shares 43,729 (-1.4%) Est. Cost $156.40 Unrealized —

QUAL ISHARES TR 0.4%

Value ($000) $1,710 (-40.4%) Shares 8,609 (-41.7%) Est. Cost $161.46 Unrealized —

VBIL VANGUARD INSTL INDEX FD 0.2%

Value ($000) $798 (-55.6%) Shares 10,585 (-55.4%) Est. Cost $75.44 Unrealized —

AMZN AMAZON COM INC 3.1%

Value ($000) $12,933 (-4.7%) Shares 56,030 (-9.4%) Est. Cost $129.65 Unrealized +76.5%

VTIP VANGUARD MALVERN FDS 0.6%

Value ($000) $2,321 (-19.4%) Shares 46,924 (-17.5%) Est. Cost $49.96 Unrealized —

MCHI ISHARES TR 0.1%

Value ($000) $431 (-55.4%) Shares 7,173 (-51.1%) Est. Cost $65.85 Unrealized —

META META PLATFORMS INC 0.2%

Value ($000) $692 (-42.7%) Shares 1,048 (-36.2%) Est. Cost $391.13 Unrealized +70.6%

EUAD SPINNAKER ETF SERIES 0.6%

Value ($000) $2,684 (-11.6%) Shares 63,719 (-1.4%) Est. Cost $43.15 Unrealized —

AXP AMERICAN EXPRESS CO 0.1%

Value ($000) $326 (-49.2%) Shares 882 (-54.4%) Est. Cost $279.37 Unrealized +27.8%

GBIL GOLDMAN SACHS ETF TR 0.6%

Value ($000) $2,331 (-11.3%) Shares 23,327 (-11.0%) Est. Cost $100.15 Unrealized —

SLVP ISHARES INC 0.3%

Value ($000) $1,379 (+23.6%) Shares 40,233 (-1.3%) Est. Cost $19.02 Unrealized —

BWX SPDR SERIES TRUST 0.1%

Value ($000) $605 (-29.3%) Shares 26,839 (-27.8%) Est. Cost $21.86 Unrealized —

CPNG COUPANG INC 0.1%

Value ($000) $226 (-48.7%) Shares 9,566 (-30.0%) Est. Cost $27.71 Unrealized +2.7%

AON AON PLC 0.1%

Value ($000) $233 (-41.7%) Shares 660 (-41.1%) Est. Cost $361.38 Unrealized -3.4%

DGX QUEST DIAGNOSTICS INC 0.1%

Value ($000) $216 (-35.9%) Shares 1,244 (-29.6%) Est. Cost $176.64 Unrealized +3.1%

CVX CHEVRON CORP NEW 0.1%

Value ($000) $214 (-34.6%) Shares 1,401 (-33.3%) Est. Cost $109.19 Unrealized +38.7%

PG PROCTER AND GAMBLE CO 0.0%

Value ($000) $202 (-32.5%) Shares 1,412 (-27.6%) Est. Cost $138.37 Unrealized +6.4%

ULTA ULTA BEAUTY INC 0.2%

Value ($000) $1,019 (-7.9%) Shares 1,684 (-16.8%) Est. Cost $393.25 Unrealized +39.8%

SCJ ISHARES INC 0.6%

Value ($000) $2,416 (-2.9%) Shares 26,321 (-2.6%) Est. Cost $75.19 Unrealized —

VGUS VANGUARD INSTL INDEX FD 0.1%

Value ($000) $300 (-11.8%) Shares 3,971 (-11.6%) Est. Cost $75.47 Unrealized —

DGRW WISDOMTREE TR 0.4%

Value ($000) $1,868 (-1.5%) Shares 20,883 (-2.0%) Est. Cost $59.49 Unrealized —

LCR MANAGED PORTFOLIO SERIES 0.4%

Value ($000) $1,831 (-1.2%) Shares 48,074 (-1.5%) Est. Cost $34.27 Unrealized —

EWW ISHARES INC 0.1%

Value ($000) $497 (-3.7%) Shares 7,168 (-5.3%) Est. Cost $60.56 Unrealized —

SCHW SCHWAB CHARLES CORP 0.1%

Value ($000) $553 (+2.9%) Shares 5,538 (-1.6%) Est. Cost $72.33 Unrealized +31.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BWZ	SPDR SERIES TRUST	51,535 (-93.9%)	$1,413 (-94.0%)	0.3%	$27.60	—	BLOOMBERG SHORT	78464A334
GOOGL	ALPHABET INC	138,681 (-5.8%)	$43,407 (+21.2%)	10.4%	$113.18	+152.3%	CAP STK CL A	02079K305
BRK/B	BERKSHIRE HATHAWAY INC DEL	5,638 (-70.1%)	$2,834 (-70.1%)	0.7%	$436.73	+13.9%	CL B NEW	084670702
IEF	ISHARES TR	27,994 (-70.0%)	$2,692 (-70.1%)	0.6%	$96.46	—	7-10 YR TRSY BD	464287440
GOOG	ALPHABET INC	73,281 (-1.3%)	$22,995 (+27.1%)	5.5%	$114.19	+150.7%	CAP STK CL C	02079K107
GRW	TCW ETF TRUST	6,706 (-95.5%)	$209 (-95.6%)	0.0%	$34.06	—	DURABLE GROWTH	29287L601
GSST	GOLDMAN SACHS ETF TR	104,321 (-43.3%)	$5,265 (-43.6%)	1.3%	$50.53	—	ULTRA SHORT BOND	381430230
HODL	VANECK BITCOIN ETF	182,839 (-26.5%)	$4,522 (-43.8%)	1.1%	$44.12	—	SH BEN INT	92189K105
SHV	ISHARES TR	7,683 (-78.5%)	$846 (-78.5%)	0.2%	$110.39	—	TRUST ISHARE 0-1	464288679
KROP	GLOBAL X FDS	49,014 (-62.8%)	$1,487 (-64.2%)	0.4%	$31.52	—	AGTECH AND FOOD	37960A198
GDX	VANECK ETF TRUST	356,305 (-15.8%)	$30,560 (-5.4%)	7.3%	$45.01	—	GOLD MINERS ETF	92189F106
GLD	SPDR GOLD TR	43,729 (-1.4%)	$17,330 (+9.9%)	4.1%	$156.40	—	GOLD SHS	78463V107
QUAL	ISHARES TR	8,609 (-41.7%)	$1,710 (-40.4%)	0.4%	$161.46	—	MSCI USA QLT FCT	46432F339
VBIL	VANGUARD INSTL INDEX FD	10,585 (-55.4%)	$798 (-55.6%)	0.2%	$75.44	—	0-3 MO TREAS BIL	922040845
AMZN	AMAZON COM INC	56,030 (-9.4%)	$12,933 (-4.7%)	3.1%	$129.65	+76.5%	COM	023135106
VTIP	VANGUARD MALVERN FDS	46,924 (-17.5%)	$2,321 (-19.4%)	0.6%	$49.96	—	STRM INFPROIDX	922020805
MCHI	ISHARES TR	7,173 (-51.1%)	$431 (-55.4%)	0.1%	$65.85	—	MSCI CHINA ETF	46429B671
META	META PLATFORMS INC	1,048 (-36.2%)	$692 (-42.7%)	0.2%	$391.13	+70.6%	CL A	30303M102
EUAD	SPINNAKER ETF SERIES	63,719 (-1.4%)	$2,684 (-11.6%)	0.6%	$43.15	—	SELECT STOXX EUR	84858T772
AXP	AMERICAN EXPRESS CO	882 (-54.4%)	$326 (-49.2%)	0.1%	$279.37	+27.8%	COM	025816109
GBIL	GOLDMAN SACHS ETF TR	23,327 (-11.0%)	$2,331 (-11.3%)	0.6%	$100.15	—	ACCES TREASURY	381430529
SLVP	ISHARES INC	40,233 (-1.3%)	$1,379 (+23.6%)	0.3%	$19.02	—	MSCI GLB SLV&MTL	464286327
BWX	SPDR SERIES TRUST	26,839 (-27.8%)	$605 (-29.3%)	0.1%	$21.86	—	BLOOMBERG INTL T	78464A516
CPNG	COUPANG INC	9,566 (-30.0%)	$226 (-48.7%)	0.1%	$27.71	+2.7%	CL A	22266T109
AON	AON PLC	660 (-41.1%)	$233 (-41.7%)	0.1%	$361.38	-3.4%	SHS CL A	G0403H108
DGX	QUEST DIAGNOSTICS INC	1,244 (-29.6%)	$216 (-35.9%)	0.1%	$176.64	+3.1%	COM	74834L100
CVX	CHEVRON CORP NEW	1,401 (-33.3%)	$214 (-34.6%)	0.1%	$109.19	+38.7%	COM	166764100
PG	PROCTER AND GAMBLE CO	1,412 (-27.6%)	$202 (-32.5%)	0.0%	$138.37	+6.4%	COM	742718109
ULTA	ULTA BEAUTY INC	1,684 (-16.8%)	$1,019 (-7.9%)	0.2%	$393.25	+39.8%	COM	90384S303
SCJ	ISHARES INC	26,321 (-2.6%)	$2,416 (-2.9%)	0.6%	$75.19	—	MSCI JAPN SMCETF	464286582
VGUS	VANGUARD INSTL INDEX FD	3,971 (-11.6%)	$300 (-11.8%)	0.1%	$75.47	—	ULTRA-SHORT TREA	922040852
DGRW	WISDOMTREE TR	20,883 (-2.0%)	$1,868 (-1.5%)	0.4%	$59.49	—	US QTLY DIV GRT	97717X669
LCR	MANAGED PORTFOLIO SERIES	48,074 (-1.5%)	$1,831 (-1.2%)	0.4%	$34.27	—	LEUTHOLD CORE ET	56167R606
EWW	ISHARES INC	7,168 (-5.3%)	$497 (-3.7%)	0.1%	$60.56	—	MSCI MEXICO ETF	464286822
SCHW	SCHWAB CHARLES CORP	5,538 (-1.6%)	$553 (+2.9%)	0.1%	$72.33	+31.0%	COM	808513105

Unchanged Positions (57)

CSCO CISCO SYS INC 3.0%

Value ($000) $12,386 Shares 160,795 Est. Cost $49.38 Unrealized +49.5%

URA GLOBAL X FDS 1.9%

Value ($000) $7,910 Shares 185,119 Est. Cost $38.81 Unrealized —

AAPL APPLE INC 3.5%

Value ($000) $14,784 Shares 54,379 Est. Cost $121.52 Unrealized +120.8%

ORCL ORACLE CORP 0.4%

Value ($000) $1,544 Shares 7,920 Est. Cost $118.79 Unrealized +100.4%

MSFT MICROSOFT CORP 2.2%

Value ($000) $9,279 Shares 19,186 Est. Cost $321.45 Unrealized +55.7%

ILF ISHARES TR 2.4%

Value ($000) $9,922 Shares 325,858 Est. Cost $26.21 Unrealized —

HL HECLA MNG CO 0.2%

Value ($000) $748 Shares 39,002 Est. Cost $5.32 Unrealized +187.1%

B BARRICK MNG CORP 0.2%

Value ($000) $766 Shares 17,600 Est. Cost $19.29 Unrealized +94.0%

ANET ARISTA NETWORKS INC 0.3%

Value ($000) $1,137 Shares 8,677 Est. Cost $102.84 Unrealized +33.9%

PAAS PAN AMERN SILVER CORP 0.1%

Value ($000) $363 Shares 7,000 Est. Cost $32.15 Unrealized +30.2%

DTCR GLOBAL X FDS 0.6%

Value ($000) $2,488 Shares 117,891 Est. Cost $18.64 Unrealized —

BX BLACKSTONE INC 0.2%

Value ($000) $820 Shares 5,320 Est. Cost $100.42 Unrealized +50.8%

COST COSTCO WHSL CORP NEW 0.3%

Value ($000) $1,084 Shares 1,257 Est. Cost $778.80 Unrealized +16.3%

LRCX LAM RESEARCH CORP 0.1%

Value ($000) $319 Shares 1,861 Est. Cost $105.52 Unrealized +47.2%

TTD THE TRADE DESK INC 0.1%

Value ($000) $234 Shares 6,168 Est. Cost $90.22 Unrealized -50.9%

FCX FREEPORT-MCMORAN INC 0.1%

Value ($000) $284 Shares 5,590 Est. Cost $35.90 Unrealized +20.6%

PHO INVESCO EXCHANGE TRADED FD T 1.0%

Value ($000) $4,034 Shares 57,292 Est. Cost $56.86 Unrealized —

SA SEABRIDGE GOLD INC 0.1%

Value ($000) $305 Shares 10,300 Est. Cost $11.86 Unrealized +121.7%

DHR DANAHER CORPORATION 0.1%

Value ($000) $383 Shares 1,673 Est. Cost $247.76 Unrealized -11.4%

ET ENERGY TRANSFER L P 0.2%

Value ($000) $989 Shares 60,000 Est. Cost $14.56 Unrealized —

MPLX MPLX LP 0.1%

Value ($000) $621 Shares 11,635 Est. Cost $35.66 Unrealized —

APD AIR PRODS & CHEMS INC 0.1%

Value ($000) $273 Shares 1,105 Est. Cost $242.42 Unrealized +3.8%

WFC WELLS FARGO CO NEW 0.1%

Value ($000) $256 Shares 2,746 Est. Cost $71.15 Unrealized +21.8%

SPGI S&P GLOBAL INC 0.1%

Value ($000) $368 Shares 704 Est. Cost $308.83 Unrealized +60.0%

XAR SPDR SERIES TRUST 0.2%

Value ($000) $898 Shares 3,721 Est. Cost $139.98 Unrealized —

WPM WHEATON PRECIOUS METALS CORP 0.1%

Value ($000) $447 Shares 3,801 Est. Cost $59.01 Unrealized +81.5%

NLR VANECK ETF TRUST 0.1%

Value ($000) $211 Shares 1,700 Est. Cost $135.65 Unrealized —

AVGO BROADCOM INC 0.1%

Value ($000) $362 Shares 1,047 Est. Cost $221.76 Unrealized +61.0%

EMB ISHARES TR 0.4%

Value ($000) $1,470 Shares 15,268 Est. Cost $89.04 Unrealized —

TXN TEXAS INSTRS INC 0.1%

Value ($000) $280 Shares 1,615 Est. Cost $170.14 Unrealized +0.3%

NEE NEXTERA ENERGY INC 0.1%

Value ($000) $270 Shares 3,364 Est. Cost $67.61 Unrealized +22.0%

AEM AGNICO EAGLE MINES LTD 0.6%

Value ($000) $2,540 Shares 14,981 Est. Cost $72.00 Unrealized +133.1%

CG CARLYLE GROUP INC 0.1%

Value ($000) $225 Shares 3,805 Est. Cost $61.48 Unrealized -8.5%

GPIX GOLDMAN SACHS ETF TR 0.7%

Value ($000) $2,889 Shares 54,711 Est. Cost $47.51 Unrealized —

KMI KINDER MORGAN INC DEL 0.1%

Value ($000) $412 Shares 15,000 Est. Cost $15.26 Unrealized +76.4%

DMCY ADVISORS INNER CIRCLE FD III 0.1%

Value ($000) $360 Shares 11,613 Est. Cost $25.64 Unrealized —

VOO VANGUARD INDEX FDS 0.1%

Value ($000) $477 Shares 761 Est. Cost $499.82 Unrealized —

VONV VANGUARD SCOTTSDALE FDS 0.1%

Value ($000) $349 Shares 3,781 Est. Cost $76.57 Unrealized —

JPM JPMORGAN CHASE & CO. 0.1%

Value ($000) $511 Shares 1,587 Est. Cost $149.16 Unrealized +107.5%

DIA SPDR DOW JONES INDL AVERAGE 0.1%

Value ($000) $294 Shares 611 Est. Cost $393.66 Unrealized —

TKO TKO GROUP HOLDINGS INC 0.1%

Value ($000) $232 Shares 1,108 Est. Cost $181.53 Unrealized +6.7%

VYM VANGUARD WHITEHALL FDS 0.1%

Value ($000) $289 Shares 2,014 Est. Cost $111.65 Unrealized —

NJUL INNOVATOR ETFS TRUST 0.1%

Value ($000) $312 Shares 4,294 Est. Cost $60.82 Unrealized —

PEP PEPSICO INC 0.1%

Value ($000) $303 Shares 2,108 Est. Cost $162.33 Unrealized -10.1%

XLF SELECT SECTOR SPDR TR 0.1%

Value ($000) $278 Shares 5,081 Est. Cost $41.11 Unrealized —

VGT VANGUARD WORLD FD 0.1%

Value ($000) $460 Shares 610 Est. Cost $576.59 Unrealized —

SCHD SCHWAB STRATEGIC TR 0.2%

Value ($000) $852 Shares 31,050 Est. Cost $43.43 Unrealized —

VIG VANGUARD SPECIALIZED FUNDS 0.1%

Value ($000) $220 Shares 1,002 Est. Cost $204.67 Unrealized —

XLI SELECT SECTOR SPDR TR 0.2%

Value ($000) $639 Shares 4,121 Est. Cost $121.87 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $242 Shares 4,506 Est. Cost $47.85 Unrealized —

BMO BANK MONTREAL QUE 0.1%

Value ($000) $445 Shares 3,425 Est. Cost $98.30 Unrealized +28.8%

NRP NATURAL RESOURCE PARTNERS L 0.0%

Value ($000) $209 Shares 2,000 Est. Cost $105.00 Unrealized —

MA MASTERCARD INCORPORATED 0.1%

Value ($000) $331 Shares 579 Est. Cost $397.78 Unrealized +40.5%

FERG FERGUSON ENTERPRISES INC 0.0%

Value ($000) $206 Shares 924 Est. Cost $224.73 Unrealized +5.9%

ASHR DBX ETF TR 0.1%

Value ($000) $214 Shares 6,500 Est. Cost $32.98 Unrealized —

NVDA NVIDIA CORPORATION 0.7%

Value ($000) $2,740 Shares 14,690 Est. Cost $103.27 Unrealized +80.2%

VDE VANGUARD WORLD FD 0.1%

Value ($000) $352 Shares 2,793 Est. Cost $128.86 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CSCO	CISCO SYS INC	160,795	$12,386	3.0%	$49.38	+49.5%	COM	17275R102
URA	GLOBAL X FDS	185,119	$7,910	1.9%	$38.81	—	GLOBAL X URANIUM	37954Y871
AAPL	APPLE INC	54,379	$14,784	3.5%	$121.52	+120.8%	COM	037833100
ORCL	ORACLE CORP	7,920	$1,544	0.4%	$118.79	+100.4%	COM	68389X105
MSFT	MICROSOFT CORP	19,186	$9,279	2.2%	$321.45	+55.7%	COM	594918104
ILF	ISHARES TR	325,858	$9,922	2.4%	$26.21	—	LATN AMER 40 ETF	464287390
HL	HECLA MNG CO	39,002	$748	0.2%	$5.32	+187.1%	COM	422704106
B	BARRICK MNG CORP	17,600	$766	0.2%	$19.29	+94.0%	COM SHS	06849F108
ANET	ARISTA NETWORKS INC	8,677	$1,137	0.3%	$102.84	+33.9%	COM SHS	040413205
PAAS	PAN AMERN SILVER CORP	7,000	$363	0.1%	$32.15	+30.2%	COM	697900108
DTCR	GLOBAL X FDS	117,891	$2,488	0.6%	$18.64	—	DATA CTR & DIGIT	37954Y236
BX	BLACKSTONE INC	5,320	$820	0.2%	$100.42	+50.8%	COM	09260D107
COST	COSTCO WHSL CORP NEW	1,257	$1,084	0.3%	$778.80	+16.3%	COM	22160K105
LRCX	LAM RESEARCH CORP	1,861	$319	0.1%	$105.52	+47.2%	COM NEW	512807306
TTD	THE TRADE DESK INC	6,168	$234	0.1%	$90.22	-50.9%	COM CL A	88339J105
FCX	FREEPORT-MCMORAN INC	5,590	$284	0.1%	$35.90	+20.6%	CL B	35671D857
PHO	INVESCO EXCHANGE TRADED FD T	57,292	$4,034	1.0%	$56.86	—	WATER RES ETF	46137V142
SA	SEABRIDGE GOLD INC	10,300	$305	0.1%	$11.86	+121.7%	COM	811916105
DHR	DANAHER CORPORATION	1,673	$383	0.1%	$247.76	-11.4%	COM	235851102
ET	ENERGY TRANSFER L P	60,000	$989	0.2%	$14.56	—	COM UT LTD PTN	29273V100
MPLX	MPLX LP	11,635	$621	0.1%	$35.66	—	COM UNIT REP LTD	55336V100
APD	AIR PRODS & CHEMS INC	1,105	$273	0.1%	$242.42	+3.8%	COM	009158106
WFC	WELLS FARGO CO NEW	2,746	$256	0.1%	$71.15	+21.8%	COM	949746101
SPGI	S&P GLOBAL INC	704	$368	0.1%	$308.83	+60.0%	COM	78409V104
XAR	SPDR SERIES TRUST	3,721	$898	0.2%	$139.98	—	STATE STREET SPD	78464A631
WPM	WHEATON PRECIOUS METALS CORP	3,801	$447	0.1%	$59.01	+81.5%	COM	962879102
NLR	VANECK ETF TRUST	1,700	$211	0.1%	$135.65	—	URANIUM AND NUCL	92189F601
AVGO	BROADCOM INC	1,047	$362	0.1%	$221.76	+61.0%	COM	11135F101
EMB	ISHARES TR	15,268	$1,470	0.4%	$89.04	—	JPMORGAN USD EMG	464288281
TXN	TEXAS INSTRS INC	1,615	$280	0.1%	$170.14	+0.3%	COM	882508104
NEE	NEXTERA ENERGY INC	3,364	$270	0.1%	$67.61	+22.0%	COM	65339F101
AEM	AGNICO EAGLE MINES LTD	14,981	$2,540	0.6%	$72.00	+133.1%	COM	008474108
CG	CARLYLE GROUP INC	3,805	$225	0.1%	$61.48	-8.5%	COM	14316J108
GPIX	GOLDMAN SACHS ETF TR	54,711	$2,889	0.7%	$47.51	—	S&P 500 PREMIUM	38149W622
KMI	KINDER MORGAN INC DEL	15,000	$412	0.1%	$15.26	+76.4%	COM	49456B101
DMCY	ADVISORS INNER CIRCLE FD III	11,613	$360	0.1%	$25.64	—	DEMOCRACY INTERN	00774Q148
VOO	VANGUARD INDEX FDS	761	$477	0.1%	$499.82	—	S&P 500 ETF SHS	922908363
VONV	VANGUARD SCOTTSDALE FDS	3,781	$349	0.1%	$76.57	—	VNG RUS1000VAL	92206C714
JPM	JPMORGAN CHASE & CO.	1,587	$511	0.1%	$149.16	+107.5%	COM	46625H100
DIA	SPDR DOW JONES INDL AVERAGE	611	$294	0.1%	$393.66	—	UT SER 1	78467X109
TKO	TKO GROUP HOLDINGS INC	1,108	$232	0.1%	$181.53	+6.7%	CL A	87256C101
VYM	VANGUARD WHITEHALL FDS	2,014	$289	0.1%	$111.65	—	HIGH DIV YLD	921946406
NJUL	INNOVATOR ETFS TRUST	4,294	$312	0.1%	$60.82	—	GRWT100 PWR BUF	45782C276
PEP	PEPSICO INC	2,108	$303	0.1%	$162.33	-10.1%	COM	713448108
XLF	SELECT SECTOR SPDR TR	5,081	$278	0.1%	$41.11	—	STATE STREET FIN	81369Y605
VGT	VANGUARD WORLD FD	610	$460	0.1%	$576.59	—	INF TECH ETF	92204A702
SCHD	SCHWAB STRATEGIC TR	31,050	$852	0.2%	$43.43	—	US DIVIDEND EQ	808524797
VIG	VANGUARD SPECIALIZED FUNDS	1,002	$220	0.1%	$204.67	—	DIV APP ETF	921908844
XLI	SELECT SECTOR SPDR TR	4,121	$639	0.2%	$121.87	—	STATE STREET IND	81369Y704
VWO	VANGUARD INTL EQUITY INDEX F	4,506	$242	0.1%	$47.85	—	FTSE EMR MKT ETF	922042858
BMO	BANK MONTREAL QUE	3,425	$445	0.1%	$98.30	+28.8%	COM	063671101
NRP	NATURAL RESOURCE PARTNERS L	2,000	$209	0.0%	$105.00	—	COM UNIT LTD PAR	63900P608
MA	MASTERCARD INCORPORATED	579	$331	0.1%	$397.78	+40.5%	CL A	57636Q104
FERG	FERGUSON ENTERPRISES INC	924	$206	0.0%	$224.73	+5.9%	COMMON STOCK NEW	31488V107
ASHR	DBX ETF TR	6,500	$214	0.1%	$32.98	—	XTRACK HRVST CSI	233051879
NVDA	NVIDIA CORPORATION	14,690	$2,740	0.7%	$103.27	+80.2%	COM	67066G104
VDE	VANGUARD WORLD FD	2,793	$352	0.1%	$128.86	—	ENERGY ETF	92204A306