Leibman Financial Services, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EPI	WISDOMTREE TR	131,987	$6,110	4.4%	$46.29	—	INDIA ERNGS FD	97717W422
DGS	WISDOMTREE TR	65,861	$3,770	2.7%	$57.24	—	EMG MKTS SMCAP	97717W281
ILF	ISHARES TR	86,938	$2,647	1.9%	$30.45	—	LATN AMER 40 ETF	464287390
CPRT	COPART INC	53,871	$2,109	1.5%	$41.46	0.0%	COM	217204106
OC	OWENS CORNING NEW	18,483	$2,068	1.5%	$117.36	0.0%	COM	690742101
COST	COSTCO WHSL CORP NEW	1,218	$1,050	0.8%	$905.73	0.0%	COM	22160K105
CAT	CATERPILLAR INC	610	$349	0.3%	$555.50	0.0%	COM	149123101

Increased Positions (26)

CAVA CAVA GROUP INC 2.9%

Value ($000) $3,951 (+155.4%) Shares 67,324 (+162.9%) Est. Cost $65.10 Unrealized -14.3%

KNSL KINSALE CAP GROUP INC 2.7%

Value ($000) $3,691 (+93.1%) Shares 9,438 (+109.9%) Est. Cost $391.85 Unrealized +4.0%

FCX FREEPORT-MCMORAN INC 3.4%

Value ($000) $4,679 (+38.9%) Shares 92,129 (+7.3%) Est. Cost $38.18 Unrealized +13.4%

CASY CASEYS GEN STORES INC 1.8%

Value ($000) $2,491 (+75.1%) Shares 4,506 (+79.1%) Est. Cost $499.14 Unrealized +10.1%

MELI MERCADOLIBRE INC 1.4%

Value ($000) $1,998 (+104.1%) Shares 992 (+136.8%) Est. Cost $2227.17 Unrealized -5.7%

TGT TARGET CORP 1.8%

Value ($000) $2,562 (+49.2%) Shares 26,206 (+37.0%) Est. Cost $121.00 Unrealized -24.3%

AMGN AMGEN INC 2.8%

Value ($000) $3,859 (+22.7%) Shares 11,789 (+5.8%) Est. Cost $261.98 Unrealized +20.6%

TECK TECK RESOURCES LTD 3.4%

Value ($000) $4,746 (+15.8%) Shares 99,097 (+6.1%) Est. Cost $38.92 Unrealized +11.3%

CPNG COUPANG INC 1.2%

Value ($000) $1,718 (+50.0%) Shares 72,833 (+104.8%) Est. Cost $29.32 Unrealized -3.0%

GRAB GRAB HOLDINGS LIMITED 1.4%

Value ($000) $1,898 (+40.9%) Shares 380,434 (+69.9%) Est. Cost $4.96 Unrealized +11.4%

CMG CHIPOTLE MEXICAN GRILL INC 1.6%

Value ($000) $2,247 (+27.9%) Shares 60,723 (+35.4%) Est. Cost $46.85 Unrealized -22.8%

SE SEA LTD 1.2%

Value ($000) $1,654 (+35.3%) Shares 12,962 (+89.5%) Est. Cost $154.57 Unrealized —

DIS DISNEY WALT CO 2.4%

Value ($000) $3,378 (+13.8%) Shares 29,690 (+14.5%) Est. Cost $90.71 Unrealized +20.8%

PLD PROLOGIS INC. 1.9%

Value ($000) $2,585 (+18.1%) Shares 20,246 (+6.0%) Est. Cost $116.40 Unrealized +6.4%

TTD THE TRADE DESK INC 1.9%

Value ($000) $2,639 (+17.1%) Shares 69,523 (+51.2%) Est. Cost $66.05 Unrealized -32.9%

AMZN AMAZON COM INC 3.2%

Value ($000) $4,401 (+8.9%) Shares 19,066 (+3.6%) Est. Cost $203.08 Unrealized +12.7%

NXT NEXTPOWER INC 1.1%

Value ($000) $1,574 (+21.8%) Shares 18,069 (+3.4%) Est. Cost $65.30 Unrealized +38.8%

TMUS T-MOBILE US INC 2.4%

Value ($000) $3,274 (-6.6%) Shares 16,129 (+10.1%) Est. Cost $169.13 Unrealized +24.9%

PGNY PROGYNY INC 0.9%

Value ($000) $1,192 (+20.7%) Shares 46,435 (+1.2%) Est. Cost $22.14 Unrealized +3.9%

PUBM PUBMATIC INC 0.7%

Value ($000) $1,025 (+18.1%) Shares 115,610 (+10.3%) Est. Cost $15.47 Unrealized -43.7%

LOW LOWES COS INC 1.8%

Value ($000) $2,538 (+3.9%) Shares 10,525 (+8.2%) Est. Cost $199.52 Unrealized +20.2%

SMIN ISHARES TR 2.5%

Value ($000) $3,402 (+1.7%) Shares 48,656 (+4.4%) Est. Cost $74.04 Unrealized —

CRWD CROWDSTRIKE HLDGS INC 1.1%

Value ($000) $1,486 (-2.6%) Shares 3,170 (+1.9%) Est. Cost $335.63 Unrealized +51.7%

ENPH ENPHASE ENERGY INC 0.8%

Value ($000) $1,049 (-3.1%) Shares 32,744 (+7.0%) Est. Cost $90.37 Unrealized -64.2%

PINS PINTEREST INC 1.3%

Value ($000) $1,830 (-1.4%) Shares 70,688 (+22.5%) Est. Cost $31.11 Unrealized -7.5%

DDOG DATADOG INC 0.9%

Value ($000) $1,220 (-0.8%) Shares 8,974 (+3.9%) Est. Cost $106.61 Unrealized +48.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CAVA	CAVA GROUP INC	67,324 (+162.9%)	$3,951 (+155.4%)	2.9%	$65.10	-14.3%	COM	148929102
KNSL	KINSALE CAP GROUP INC	9,438 (+109.9%)	$3,691 (+93.1%)	2.7%	$391.85	+4.0%	COM	49714P108
FCX	FREEPORT-MCMORAN INC	92,129 (+7.3%)	$4,679 (+38.9%)	3.4%	$38.18	+13.4%	CL B	35671D857
CASY	CASEYS GEN STORES INC	4,506 (+79.1%)	$2,491 (+75.1%)	1.8%	$499.14	+10.1%	COM	147528103
MELI	MERCADOLIBRE INC	992 (+136.8%)	$1,998 (+104.1%)	1.4%	$2227.17	-5.7%	COM	58733R102
TGT	TARGET CORP	26,206 (+37.0%)	$2,562 (+49.2%)	1.8%	$121.00	-24.3%	COM	87612E106
AMGN	AMGEN INC	11,789 (+5.8%)	$3,859 (+22.7%)	2.8%	$261.98	+20.6%	COM	031162100
TECK	TECK RESOURCES LTD	99,097 (+6.1%)	$4,746 (+15.8%)	3.4%	$38.92	+11.3%	CL B	878742204
CPNG	COUPANG INC	72,833 (+104.8%)	$1,718 (+50.0%)	1.2%	$29.32	-3.0%	CL A	22266T109
GRAB	GRAB HOLDINGS LIMITED	380,434 (+69.9%)	$1,898 (+40.9%)	1.4%	$4.96	+11.4%	CLASS A ORD	G4124C109
CMG	CHIPOTLE MEXICAN GRILL INC	60,723 (+35.4%)	$2,247 (+27.9%)	1.6%	$46.85	-22.8%	COM	169656105
SE	SEA LTD	12,962 (+89.5%)	$1,654 (+35.3%)	1.2%	$154.57	—	SPONSORD ADS	81141R100
DIS	DISNEY WALT CO	29,690 (+14.5%)	$3,378 (+13.8%)	2.4%	$90.71	+20.8%	COM	254687106
PLD	PROLOGIS INC.	20,246 (+6.0%)	$2,585 (+18.1%)	1.9%	$116.40	+6.4%	COM	74340W103
TTD	THE TRADE DESK INC	69,523 (+51.2%)	$2,639 (+17.1%)	1.9%	$66.05	-32.9%	COM CL A	88339J105
AMZN	AMAZON COM INC	19,066 (+3.6%)	$4,401 (+8.9%)	3.2%	$203.08	+12.7%	COM	023135106
NXT	NEXTPOWER INC	18,069 (+3.4%)	$1,574 (+21.8%)	1.1%	$65.30	+38.8%	CLASS A COM	65290E101
TMUS	T-MOBILE US INC	16,129 (+10.1%)	$3,274 (-6.6%)	2.4%	$169.13	+24.9%	COM	872590104
PGNY	PROGYNY INC	46,435 (+1.2%)	$1,192 (+20.7%)	0.9%	$22.14	+3.9%	COM	74340E103
PUBM	PUBMATIC INC	115,610 (+10.3%)	$1,025 (+18.1%)	0.7%	$15.47	-43.7%	COM CL A	74467Q103
LOW	LOWES COS INC	10,525 (+8.2%)	$2,538 (+3.9%)	1.8%	$199.52	+20.2%	COM	548661107
SMIN	ISHARES TR	48,656 (+4.4%)	$3,402 (+1.7%)	2.5%	$74.04	—	MSCI INDIA SM CP	46429B614
CRWD	CROWDSTRIKE HLDGS INC	3,170 (+1.9%)	$1,486 (-2.6%)	1.1%	$335.63	+51.7%	CL A	22788C105
ENPH	ENPHASE ENERGY INC	32,744 (+7.0%)	$1,049 (-3.1%)	0.8%	$90.37	-64.2%	COM	29355A107
PINS	PINTEREST INC	70,688 (+22.5%)	$1,830 (-1.4%)	1.3%	$31.11	-7.5%	CL A	72352L106
DDOG	DATADOG INC	8,974 (+3.9%)	$1,220 (-0.8%)	0.9%	$106.61	+48.2%	CL A COM	23804L103

Exited Positions (4)

INDA ISHARES TR 4.1%

Value ($000) $5,662 Shares 128,100 Est. Cost $44.38 Unrealized —

AMAT APPLIED MATLS INC 1.8%

Value ($000) $2,519 Shares 12,303 Est. Cost $144.74 Unrealized +65.5%

PSTG PURE STORAGE INC 1.1%

Value ($000) $1,588 Shares 18,952 Est. Cost $35.07 Unrealized +138.2%

TSLA TESLA INC 0.2%

Value ($000) $217 Shares 488 Est. Cost $333.26 Unrealized +33.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
INDA	ISHARES TR	128,100	$5,662	4.1%	$44.38	—	—	46429B598
AMAT	APPLIED MATLS INC	12,303	$2,519	1.8%	$144.74	+65.5%	—	038222105
PSTG	PURE STORAGE INC	18,952	$1,588	1.1%	$35.07	+138.2%	—	74624M102
TSLA	TESLA INC	488	$217	0.2%	$333.26	+33.0%	—	88160R101

Decreased Positions (14)

AES AES CORP 0.2%

Value ($000) $239 (-93.3%) Shares 16,664 (-93.8%) Est. Cost $12.78 Unrealized +9.8%

STRL STERLING INFRASTRUCTURE INC 0.7%

Value ($000) $1,026 (-76.4%) Shares 3,349 (-73.8%) Est. Cost $174.59 Unrealized +97.3%

TSM TAIWAN SEMICONDUCTOR MFG LTD 1.2%

Value ($000) $1,700 (-61.7%) Shares 5,593 (-64.8%) Est. Cost $104.00 Unrealized —

ARE ALEXANDRIA REAL ESTATE EQ IN 1.7%

Value ($000) $2,413 (-48.4%) Shares 49,297 (-12.2%) Est. Cost $94.97 Unrealized -38.9%

URI UNITED RENTALS INC 1.7%

Value ($000) $2,401 (-46.8%) Shares 2,967 (-37.2%) Est. Cost $466.04 Unrealized +86.1%

USFR WISDOMTREE TR 10.7%

Value ($000) $14,869 (-10.7%) Shares 295,493 (-10.8%) Est. Cost $50.27 Unrealized —

ALB ALBEMARLE CORP 3.0%

Value ($000) $4,215 (+60.6%) Shares 29,798 (-7.9%) Est. Cost $98.70 Unrealized +14.7%

MSFT MICROSOFT CORP 0.2%

Value ($000) $217 (-86.2%) Shares 449 (-85.2%) Est. Cost $350.36 Unrealized +42.9%

AAPL APPLE INC 2.4%

Value ($000) $3,370 (-19.3%) Shares 12,396 (-24.4%) Est. Cost $191.53 Unrealized +40.1%

GOOG ALPHABET INC 2.8%

Value ($000) $3,851 (+9.3%) Shares 12,273 (-15.1%) Est. Cost $134.68 Unrealized +112.6%

AVDV AMERICAN CENTY ETF TR 4.0%

Value ($000) $5,553 (+3.8%) Shares 59,096 (-1.6%) Est. Cost $80.90 Unrealized —

DE DEERE & CO 0.2%

Value ($000) $310 (-24.8%) Shares 666 (-26.2%) Est. Cost $366.38 Unrealized +27.7%

FSLR FIRST SOLAR INC 2.1%

Value ($000) $2,945 (-2.8%) Shares 11,272 (-17.9%) Est. Cost $155.62 Unrealized +62.1%

SHV ISHARES TR 0.4%

Value ($000) $623 (-4.3%) Shares 5,655 (-4.0%) Est. Cost $110.13 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AES	AES CORP	16,664 (-93.8%)	$239 (-93.3%)	0.2%	$12.78	+9.8%	COM	00130H105
STRL	STERLING INFRASTRUCTURE INC	3,349 (-73.8%)	$1,026 (-76.4%)	0.7%	$174.59	+97.3%	COM	859241101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	5,593 (-64.8%)	$1,700 (-61.7%)	1.2%	$104.00	—	SPONSORED ADS	874039100
ARE	ALEXANDRIA REAL ESTATE EQ IN	49,297 (-12.2%)	$2,413 (-48.4%)	1.7%	$94.97	-38.9%	COM	015271109
URI	UNITED RENTALS INC	2,967 (-37.2%)	$2,401 (-46.8%)	1.7%	$466.04	+86.1%	COM	911363109
USFR	WISDOMTREE TR	295,493 (-10.8%)	$14,869 (-10.7%)	10.7%	$50.27	—	FLOATING RAT TREA	97717Y527
ALB	ALBEMARLE CORP	29,798 (-7.9%)	$4,215 (+60.6%)	3.0%	$98.70	+14.7%	COM	012653101
MSFT	MICROSOFT CORP	449 (-85.2%)	$217 (-86.2%)	0.2%	$350.36	+42.9%	COM	594918104
AAPL	APPLE INC	12,396 (-24.4%)	$3,370 (-19.3%)	2.4%	$191.53	+40.1%	COM	037833100
GOOG	ALPHABET INC	12,273 (-15.1%)	$3,851 (+9.3%)	2.8%	$134.68	+112.6%	CAP STK CL C	02079K107
AVDV	AMERICAN CENTY ETF TR	59,096 (-1.6%)	$5,553 (+3.8%)	4.0%	$80.90	—	INTL SMCP VLU	025072802
DE	DEERE & CO	666 (-26.2%)	$310 (-24.8%)	0.2%	$366.38	+27.7%	COM	244199105
FSLR	FIRST SOLAR INC	11,272 (-17.9%)	$2,945 (-2.8%)	2.1%	$155.62	+62.1%	COM	336433107
SHV	ISHARES TR	5,655 (-4.0%)	$623 (-4.3%)	0.4%	$110.13	—	SHORT TREAS BD	464288679

Unchanged Positions (4)

LULU LULULEMON ATHLETICA INC 3.3%

Value ($000) $4,614 Shares 22,202 Est. Cost $236.64 Unrealized -23.4%

BRK/B BERKSHIRE HATHAWAY INC DEL 3.3%

Value ($000) $4,582 Shares 9,115 Est. Cost $352.92 Unrealized +41.0%

SHEL SHELL PLC 0.2%

Value ($000) $210 Shares 2,856 Est. Cost $65.80 Unrealized —

UNP UNION PAC CORP 0.2%

Value ($000) $222 Shares 960 Est. Cost $209.24 Unrealized +8.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LULU	LULULEMON ATHLETICA INC	22,202	$4,614	3.3%	$236.64	-23.4%	COM	550021109
BRK/B	BERKSHIRE HATHAWAY INC DEL	9,115	$4,582	3.3%	$352.92	+41.0%	CL B NEW	084670702
SHEL	SHELL PLC	2,856	$210	0.2%	$65.80	—	SPON ADS	780259305
UNP	UNION PAC CORP	960	$222	0.2%	$209.24	+8.6%	COM	907818108