Saudi Central Bank Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	Netflix Inc	518,208 (+900.0%)	$48,587 (-21.8%)	1.8%	$108.33	-0.5%	COM	64110L106
XLU	State Street Utilities Select	3,099,466 (+100.0%)	$132,316 (-2.1%)	4.9%	$62.17	—	STATE STREET UTI	81369Y886
XLK	State Street Technology Select	851,762 (+100.0%)	$122,628 (+2.2%)	4.6%	$198.60	—	STATE STREET TEC	81369Y803
XLE	State Street Energy Select Sec	4,321,004 (+100.0%)	$193,192 (+0.1%)	7.2%	$64.76	—	STATE STREET ENE	81369Y506
SPOT	Spotify Technology SA	382 (+2.4%)	$222 (-14.8%)	0.0%	$697.49	-10.4%	SHS	L8681T102
BRK/B	Berkshire Hathaway Inc	570 (+2.0%)	$287 (+1.9%)	0.0%	$487.38	+2.1%	CL B NEW	084670702

Decreased Positions (1)

TSLA Tesla Inc 0.0%

Value ($000) $526 (-1.2%) Shares 1,169 (-2.3%) Est. Cost $331.81 Unrealized +33.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSLA	Tesla Inc	1,169 (-2.3%)	$526 (-1.2%)	0.0%	$331.81	+33.6%	COM	88160R101

Unchanged Positions (47)

MU Micron Technology Inc 4.4%

Value ($000) $116,783 Shares 409,010 Est. Cost $93.23 Unrealized +146.0%

META Meta Platforms Inc 8.3%

Value ($000) $221,637 Shares 335,768 Est. Cost $615.86 Unrealized +8.4%

SMH VanEck Semiconductor ETF 8.1%

Value ($000) $216,800 Shares 602,006 Est. Cost $278.88 Unrealized —

FISV Fiserv Inc 0.6%

Value ($000) $16,888 Shares 251,417 Est. Cost $181.38 Unrealized -53.8%

SLV iShares Silver Trust 1.5%

Value ($000) $40,031 Shares 621,400 Est. Cost $32.81 Unrealized —

ALB Albemarle Corp 1.1%

Value ($000) $28,488 Shares 200,840 Est. Cost $58.33 Unrealized +94.2%

BABA Alibaba Group Holding Ltd 1.8%

Value ($000) $49,041 Shares 334,566 Est. Cost $115.41 Unrealized —

AMD Advanced Micro Devices Inc 1.6%

Value ($000) $43,113 Shares 201,313 Est. Cost $108.88 Unrealized +106.3%

MRK Merck & Co Inc 1.1%

Value ($000) $28,482 Shares 268,430 Est. Cost $77.44 Unrealized +20.4%

PLTR Palantir Technologies Inc 8.0%

Value ($000) $213,057 Shares 1,198,634 Est. Cost $117.26 Unrealized +54.4%

T AT&T Inc 1.3%

Value ($000) $34,026 Shares 1,369,787 Est. Cost $26.96 Unrealized -6.2%

QQQ Invesco QQQ Trust Series 1 6.0%

Value ($000) $161,946 Shares 263,622 Est. Cost $552.23 Unrealized —

MCHI iShares MSCI China ETF 1.3%

Value ($000) $36,042 Shares 600,000 Est. Cost $55.10 Unrealized —

SPY State Street SPDR S&P 500 ETF 5.4%

Value ($000) $143,622 Shares 210,000 Est. Cost $619.61 Unrealized —

JNJ Johnson & Johnson 1.0%

Value ($000) $27,943 Shares 135,021 Est. Cost $150.85 Unrealized +30.6%

VTV Vanguard Value ETF 5.4%

Value ($000) $144,519 Shares 756,686 Est. Cost $177.70 Unrealized —

AMT American Tower Corp 1.0%

Value ($000) $26,178 Shares 147,674 Est. Cost $210.34 Unrealized -14.3%

KO Coca-Cola Co 1.9%

Value ($000) $49,641 Shares 710,064 Est. Cost $69.78 Unrealized -0.5%

FTNT Fortinet Inc 1.1%

Value ($000) $29,500 Shares 371,486 Est. Cost $89.23 Unrealized -7.1%

EIX Edison International 0.8%

Value ($000) $20,716 Shares 345,159 Est. Cost $53.08 Unrealized +8.0%

XLF State Street Financial Select 3.5%

Value ($000) $94,055 Shares 1,717,269 Est. Cost $52.37 Unrealized —

PTON Peloton Interactive Inc 0.1%

Value ($000) $3,249 Shares 527,357 Est. Cost $6.50 Unrealized +8.4%

DPZ Domino's Pizza Inc 1.4%

Value ($000) $37,403 Shares 89,733 Est. Cost $464.31 Unrealized -10.5%

CI Cigna Group/The 1.0%

Value ($000) $26,795 Shares 97,356 Est. Cost $317.85 Unrealized -12.1%

BSX Boston Scientific Corp 1.9%

Value ($000) $51,434 Shares 539,428 Est. Cost $101.18 Unrealized -3.1%

IWD iShares Russell 1000 Value ETF 1.4%

Value ($000) $37,444 Shares 178,016 Est. Cost $194.23 Unrealized —

EPD Enterprise Products Partners L 1.7%

Value ($000) $46,108 Shares 1,438,187 Est. Cost $31.01 Unrealized —

QCOM Qualcomm Inc 1.4%

Value ($000) $38,701 Shares 226,254 Est. Cost $145.05 Unrealized +17.7%

CPAY Corpay Inc 0.9%

Value ($000) $22,859 Shares 75,962 Est. Cost $326.15 Unrealized -11.0%

CVS CVS Health Corp 0.7%

Value ($000) $18,692 Shares 235,530 Est. Cost $64.17 Unrealized +22.6%

DOCU DocuSign Inc 0.5%

Value ($000) $12,611 Shares 184,373 Est. Cost $80.90 Unrealized -14.5%

XLP State Street Consumer Staples 2.8%

Value ($000) $74,851 Shares 963,581 Est. Cost $80.97 Unrealized —

PFE Pfizer Inc 0.5%

Value ($000) $14,469 Shares 581,068 Est. Cost $22.36 Unrealized +12.0%

AAXJ iShares MSCI All Country Asia 0.5%

Value ($000) $13,423 Shares 144,151 Est. Cost $82.62 Unrealized —

GOOGL Alphabet Inc 0.0%

Value ($000) $753 Shares 2,406 Est. Cost $179.97 Unrealized +58.7%

MCD McDonald's Corp 1.1%

Value ($000) $29,125 Shares 95,295 Est. Cost $303.51 Unrealized +0.5%

GOOG Alphabet Inc 0.0%

Value ($000) $634 Shares 2,021 Est. Cost $181.81 Unrealized +57.5%

LLY Eli Lilly and Co 0.0%

Value ($000) $358 Shares 333 Est. Cost $824.60 Unrealized +15.9%

AAPL Apple Inc 0.1%

Value ($000) $1,669 Shares 6,139 Est. Cost $229.53 Unrealized +16.9%

MSFT Microsoft Corp 0.1%

Value ($000) $1,413 Shares 2,921 Est. Cost $406.27 Unrealized +23.2%

AMZN Amazon.com Inc 0.0%

Value ($000) $916 Shares 3,970 Est. Cost $216.01 Unrealized +5.9%

AVGO Broadcom Inc 0.0%

Value ($000) $642 Shares 1,856 Est. Cost $210.11 Unrealized +69.9%

XOM Exxon Mobil Corp 0.0%

Value ($000) $212 Shares 1,763 Est. Cost $109.70 Unrealized +5.3%

V Visa Inc 0.0%

Value ($000) $247 Shares 703 Est. Cost $336.76 Unrealized +1.1%

JPM JPMorgan Chase & Co 0.0%

Value ($000) $366 Shares 1,137 Est. Cost $250.97 Unrealized +23.3%

NVDA NVIDIA Corp 0.1%

Value ($000) $1,875 Shares 10,052 Est. Cost $126.68 Unrealized +46.9%

MA Mastercard Inc 0.0%

Value ($000) $202 Shares 353 Est. Cost $573.47 Unrealized -2.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MU	Micron Technology Inc	409,010	$116,783	4.4%	$93.23	+146.0%	COM	595112103
META	Meta Platforms Inc	335,768	$221,637	8.3%	$615.86	+8.4%	CL A	30303M102
SMH	VanEck Semiconductor ETF	602,006	$216,800	8.1%	$278.88	—	SEMICONDUCTR ETF	92189F676
FISV	Fiserv Inc	251,417	$16,888	0.6%	$181.38	-53.8%	COM	337738108
SLV	iShares Silver Trust	621,400	$40,031	1.5%	$32.81	—	ISHARES	46428Q109
ALB	Albemarle Corp	200,840	$28,488	1.1%	$58.33	+94.2%	COM	012653101
BABA	Alibaba Group Holding Ltd	334,566	$49,041	1.8%	$115.41	—	SPONSORED ADS	01609W102
AMD	Advanced Micro Devices Inc	201,313	$43,113	1.6%	$108.88	+106.3%	COM	007903107
MRK	Merck & Co Inc	268,430	$28,482	1.1%	$77.44	+20.4%	COM	58933Y105
PLTR	Palantir Technologies Inc	1,198,634	$213,057	8.0%	$117.26	+54.4%	CL A	69608A108
T	AT&T Inc	1,369,787	$34,026	1.3%	$26.96	-6.2%	COM	00206R102
QQQ	Invesco QQQ Trust Series 1	263,622	$161,946	6.0%	$552.23	—	UNIT SER 1	46090E103
MCHI	iShares MSCI China ETF	600,000	$36,042	1.3%	$55.10	—	MSCI CHINA ETF	46429B671
SPY	State Street SPDR S&P 500 ETF	210,000	$143,622	5.4%	$619.61	—	TR UNIT	78462F103
JNJ	Johnson & Johnson	135,021	$27,943	1.0%	$150.85	+30.6%	COM	478160104
VTV	Vanguard Value ETF	756,686	$144,519	5.4%	$177.70	—	VALUE ETF	922908744
AMT	American Tower Corp	147,674	$26,178	1.0%	$210.34	-14.3%	COM	03027X100
KO	Coca-Cola Co	710,064	$49,641	1.9%	$69.78	-0.5%	COM	191216100
FTNT	Fortinet Inc	371,486	$29,500	1.1%	$89.23	-7.1%	COM	34959E109
EIX	Edison International	345,159	$20,716	0.8%	$53.08	+8.0%	COM	281020107
XLF	State Street Financial Select	1,717,269	$94,055	3.5%	$52.37	—	STATE STREET FIN	81369Y605
PTON	Peloton Interactive Inc	527,357	$3,249	0.1%	$6.50	+8.4%	CL A COM	70614W100
DPZ	Domino's Pizza Inc	89,733	$37,403	1.4%	$464.31	-10.5%	COM	25754A201
CI	Cigna Group/The	97,356	$26,795	1.0%	$317.85	-12.1%	COM	125523100
BSX	Boston Scientific Corp	539,428	$51,434	1.9%	$101.18	-3.1%	COM	101137107
IWD	iShares Russell 1000 Value ETF	178,016	$37,444	1.4%	$194.23	—	RUS 1000 VAL ETF	464287598
EPD	Enterprise Products Partners L	1,438,187	$46,108	1.7%	$31.01	—	COM	293792107
QCOM	Qualcomm Inc	226,254	$38,701	1.4%	$145.05	+17.7%	COM	747525103
CPAY	Corpay Inc	75,962	$22,859	0.9%	$326.15	-11.0%	COM SHS	219948106
CVS	CVS Health Corp	235,530	$18,692	0.7%	$64.17	+22.6%	COM	126650100
DOCU	DocuSign Inc	184,373	$12,611	0.5%	$80.90	-14.5%	COM	256163106
XLP	State Street Consumer Staples	963,581	$74,851	2.8%	$80.97	—	STATE STREET CON	81369Y308
PFE	Pfizer Inc	581,068	$14,469	0.5%	$22.36	+12.0%	COM	717081103
AAXJ	iShares MSCI All Country Asia	144,151	$13,423	0.5%	$82.62	—	MSCI AC ASIA ETF	464288182
GOOGL	Alphabet Inc	2,406	$753	0.0%	$179.97	+58.7%	CAP STK CL A	02079K305
MCD	McDonald's Corp	95,295	$29,125	1.1%	$303.51	+0.5%	COM	580135101
GOOG	Alphabet Inc	2,021	$634	0.0%	$181.81	+57.5%	CAP STK CL C	02079K107
LLY	Eli Lilly and Co	333	$358	0.0%	$824.60	+15.9%	COM	532457108
AAPL	Apple Inc	6,139	$1,669	0.1%	$229.53	+16.9%	COM	037833100
MSFT	Microsoft Corp	2,921	$1,413	0.1%	$406.27	+23.2%	COM	594918104
AMZN	Amazon.com Inc	3,970	$916	0.0%	$216.01	+5.9%	COM	023135106
AVGO	Broadcom Inc	1,856	$642	0.0%	$210.11	+69.9%	COM	11135F101
XOM	Exxon Mobil Corp	1,763	$212	0.0%	$109.70	+5.3%	COM	30231G102
V	Visa Inc	703	$247	0.0%	$336.76	+1.1%	COM CL A	92826C839
JPM	JPMorgan Chase & Co	1,137	$366	0.0%	$250.97	+23.3%	COM	46625H100
NVDA	NVIDIA Corp	10,052	$1,875	0.1%	$126.68	+46.9%	COM	67066G104
MA	Mastercard Inc	353	$202	0.0%	$573.47	-2.5%	CL A	57636Q104