Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EQR	EQUITY RESIDENTIAL	593,090 (+83.0%)	$35.08M (+71.7%)	11.3%	$58.72	+5.6%	SH BEN INT	29476L107
BRK/B	BERKSHIRE HATHAWAY INC DEL	15,302 (+260.1%)	$7.333M (+243.3%)	2.4%	$447.86	+10.2%	CL B NEW	084670702
VNQ	VANGUARD INDEX FDS	849,940 (+1.1%)	$75.39M (+1.3%)	24.4%	$72.26	—	REAL ESTATE ETF	922908553
GLDM	WORLD GOLD TR	70,501 (+2.0%)	$6.535M (+10.8%)	2.1%	$52.80	—	SPDR GLD MINIS	98149E303
PSA	PUBLIC STORAGE OPER CO	30,497 (+1.1%)	$8.261M (+5.5%)	2.7%	$274.24	-5.8%	COM	74460D109
SGOL	ETFS GOLD TR	20,093 (+29.7%)	$897K (+40.9%)	0.3%	$23.90	—	PHYSCL GOLD SHS	00326A104

Exited Positions (2)

AVGO BROADCOM INC 0.4%

Value $1.089M Shares 3,147 Est. Cost $357.00 Unrealized -6.4%

VOO VANGUARD INDEX FDS 0.1%

Value $221K Shares 352 Est. Cost $482.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	3,147	$1.089M	0.4%	$357.00	-6.4%	—	11135F101
VOO	VANGUARD INDEX FDS	352	$221K	0.1%	$482.27	—	—	922908363

Decreased Positions (6)

SPY STATE STR SPDR S&P 500 ETF T 14.7%

Value $45.4M (-12.0%) Shares 69,811 (-7.7%) Est. Cost $481.36 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 4.1%

Value $12.83M (-11.1%) Shares 200,180 (-13.3%) Est. Cost $45.37 Unrealized —

VTI VANGUARD INDEX FDS 4.8%

Value $14.84M (-5.5%) Shares 46,265 (-1.3%) Est. Cost $191.53 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 1.1%

Value $3.399M (-4.7%) Shares 62,883 (-5.2%) Est. Cost $46.43 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 0.2%

Value $616K (-16.5%) Shares 7,774 (-16.0%) Est. Cost $79.73 Unrealized —

NVDA NVIDIA CORPORATION 0.2%

Value $509K (-13.3%) Shares 2,920 (-7.3%) Est. Cost $186.13 Unrealized +0.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	69,811 (-7.7%)	$45.4M (-12.0%)	14.7%	$481.36	—	TR UNIT	78462F103
VEA	VANGUARD TAX-MANAGED FDS	200,180 (-13.3%)	$12.83M (-11.1%)	4.1%	$45.37	—	VAN FTSE DEV MKT	921943858
VTI	VANGUARD INDEX FDS	46,265 (-1.3%)	$14.84M (-5.5%)	4.8%	$191.53	—	TOTAL STK MKT	922908769
VWO	VANGUARD INTL EQUITY INDEX F	62,883 (-5.2%)	$3.399M (-4.7%)	1.1%	$46.43	—	FTSE EMR MKT ETF	922042858
VCSH	VANGUARD SCOTTSDALE FDS	7,774 (-16.0%)	$616K (-16.5%)	0.2%	$79.73	—	SHRT TRM CORP BD	92206C409
NVDA	NVIDIA CORPORATION	2,920 (-7.3%)	$509K (-13.3%)	0.2%	$186.13	+0.3%	COM	67066G104

Unchanged Positions (23)

EPD ENTERPRISE PRODS PARTNERS L 3.7%

Value $11.53M Shares 304,608 Est. Cost $31.01 Unrealized —

PLD PROLOGIS INC. 6.4%

Value $19.7M Shares 149,038 Est. Cost $124.05 Unrealized +4.0%

WMB WILLIAMS COS INC 1.5%

Value $4.495M Shares 61,760 Est. Cost $57.67 Unrealized +15.1%

COLD AMERICOLD REALTY TRUST INC 2.1%

Value $6.37M Shares 555,865 Est. Cost $16.63 Unrealized —

ELS EQUITY LIFESTYLE PROPERTIES 4.0%

Value $12.27M Shares 196,584 Est. Cost $87.66 Unrealized —

SLV ISHARES SILVER TR 2.6%

Value $8.143M Shares 119,501 Est. Cost $20.34 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 3.1%

Value $9.697M Shares 70,103 Est. Cost $60.08 Unrealized —

MSFT MICROSOFT CORP 0.2%

Value $472K Shares 1,275 Est. Cost $383.41 Unrealized +13.4%

GOOGL ALPHABET INC 0.3%

Value $1.018M Shares 3,540 Est. Cost $285.60 Unrealized +13.2%

AAPL APPLE INC 0.4%

Value $1.257M Shares 4,951 Est. Cost $116.48 Unrealized +125.6%

VV VANGUARD INDEX FDS 0.4%

Value $1.136M Shares 3,800 Est. Cost $285.30 Unrealized —

IVV ISHARES TR 0.2%

Value $719K Shares 1,100 Est. Cost $445.71 Unrealized —

AMZN AMAZON COM INC 0.1%

Value $250K Shares 1,200 Est. Cost $126.61 Unrealized +79.2%

IJR ISHARES TR 0.3%

Value $783K Shares 6,298 Est. Cost $92.43 Unrealized —

IEFA ISHARES TR 0.6%

Value $1.856M Shares 20,507 Est. Cost $63.86 Unrealized —

GOOG ALPHABET INC 0.1%

Value $207K Shares 720 Est. Cost $286.33 Unrealized +13.0%

ESGU ISHARES TR 0.1%

Value $358K Shares 2,532 Est. Cost $101.50 Unrealized —

IEMG ISHARES INC 0.2%

Value $511K Shares 7,324 Est. Cost $46.70 Unrealized —

PEB PEBBLEBROOK HOTEL TR 0.0%

Value $152K Shares 12,000 Est. Cost $9.99 Unrealized —

EFA ISHARES TR 0.4%

Value $1.094M Shares 11,268 Est. Cost $58.32 Unrealized —

VONV VANGUARD SCOTTSDALE FDS 0.2%

Value $734K Shares 7,825 Est. Cost $62.15 Unrealized —

ACWI ISHARES TR 0.1%

Value $345K Shares 2,494 Est. Cost $84.88 Unrealized —

SKT TANGER INC 0.1%

Value $272K Shares 8,000 Est. Cost $30.58 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EPD	ENTERPRISE PRODS PARTNERS L	304,608	$11.53M	3.7%	$31.01	—	COM	293792107
PLD	PROLOGIS INC.	149,038	$19.7M	6.4%	$124.05	+4.0%	COM	74340W103
WMB	WILLIAMS COS INC	61,760	$4.495M	1.5%	$57.67	+15.1%	COM	969457100
COLD	AMERICOLD REALTY TRUST INC	555,865	$6.37M	2.1%	$16.63	—	COM	03064D108
ELS	EQUITY LIFESTYLE PROPERTIES	196,584	$12.27M	4.0%	$87.66	—	COM	29472R108
SLV	ISHARES SILVER TR	119,501	$8.143M	2.6%	$20.34	—	ISHARES	46428Q109
VT	VANGUARD INTL EQUITY INDEX F	70,103	$9.697M	3.1%	$60.08	—	TT WRLD ST ETF	922042742
MSFT	MICROSOFT CORP	1,275	$472K	0.2%	$383.41	+13.4%	COM	594918104
GOOGL	ALPHABET INC	3,540	$1.018M	0.3%	$285.60	+13.2%	CAP STK CL A	02079K305
AAPL	APPLE INC	4,951	$1.257M	0.4%	$116.48	+125.6%	COM	037833100
VV	VANGUARD INDEX FDS	3,800	$1.136M	0.4%	$285.30	—	LARGE CAP ETF	922908637
IVV	ISHARES TR	1,100	$719K	0.2%	$445.71	—	CORE S&P500 ETF	464287200
AMZN	AMAZON COM INC	1,200	$250K	0.1%	$126.61	+79.2%	COM	023135106
IJR	ISHARES TR	6,298	$783K	0.3%	$92.43	—	CORE S&P SCP ETF	464287804
IEFA	ISHARES TR	20,507	$1.856M	0.6%	$63.86	—	CORE MSCI EAFE	46432F842
GOOG	ALPHABET INC	720	$207K	0.1%	$286.33	+13.0%	CAP STK CL C	02079K107
ESGU	ISHARES TR	2,532	$358K	0.1%	$101.50	—	ESG AWR MSCI USA	46435G425
IEMG	ISHARES INC	7,324	$511K	0.2%	$46.70	—	CORE MSCI EMKT	46434G103
PEB	PEBBLEBROOK HOTEL TR	12,000	$152K	0.0%	$9.99	—	COM	70509V100
EFA	ISHARES TR	11,268	$1.094M	0.4%	$58.32	—	MSCI EAFE ETF	464287465
VONV	VANGUARD SCOTTSDALE FDS	7,825	$734K	0.2%	$62.15	—	VNG RUS1000VAL	92206C714
ACWI	ISHARES TR	2,494	$345K	0.1%	$84.88	—	MSCI ACWI ETF	464288257
SKT	TANGER INC	8,000	$272K	0.1%	$30.58	—	COM	875465106