Permanent Capital Management, LP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BA	BOEING CO	7,152	$1,553	0.3%	$205.66	0.0%	COM	097023105
UL	UNILEVER PLC	17,621	$1,152	0.2%	$65.40	—	SPON ADR NEW	904767803
PGR	PROGRESSIVE CORP	4,737	$1,079	0.2%	$212.34	0.0%	COM	743315103
BDX	BECTON DICKINSON & CO	4,684	$909	0.2%	$189.55	0.0%	COM	075887109
SEM	SELECT MED HLDGS CORP	45,000	$668	0.1%	$14.10	0.0%	COM	81619Q105
SLG	SL GREEN RLTY CORP	13,628	$625	0.1%	$45.87	—	COM	78440X887
MYFW	FIRST WESTN FINL INC	21,000	$563	0.1%	$23.84	0.0%	COM	33751L105
HUT	HUT 8 CORP	12,000	$551	0.1%	$44.08	0.0%	COM	44812J104
PSLV	SPROTT ASSET MANAGEMENT LP	21,920	$518	0.1%	$23.65	—	PHYSICAL SILVER	85207K107
GDXJ	VANECK ETF TRUST	2,509	$285	0.1%	$113.78	—	JUNIOR GOLD MINE	92189F791
TSM	TAIWAN SEMICONDUCTOR MFG LTD	825	$251	0.0%	$304.69	—	SPONSORED ADS	874039100
CAH	CARDINAL HEALTH INC	1,065	$219	0.0%	$187.72	0.0%	COM	14149Y108
NUE	NUCOR CORP	1,321	$216	0.0%	$149.77	0.0%	COM	670346105
BRK/B	BERKSHIRE HATHAWAY INC DEL	423	$213	0.0%	$497.53	0.0%	CL B NEW	084670702
INDA	ISHARES TR	3,915	$212	0.0%	$54.05	—	MSCI INDIA ETF	46429B598
RSG	REPUBLIC SVCS INC	956	$203	0.0%	$214.59	0.0%	COM	760759100
—	WESTERN ASSET MANAGED MUNS F	13,513	$141	0.0%	$10.44	—	COM	95766M105
—	BLACKROCK MUNIHLDNGS CALI QL	13,206	$140	0.0%	$10.60	—	COM	09254L107
GBDC	GOLUB CAP BDC INC	10,300	$140	0.0%	$13.54	0.0%	COM	38173M102
—	BLACKROCK MUNIHLDGS NJ QLTY	11,741	$140	0.0%	$11.90	—	COM	09254X101
—	NUVEEN NEW YORK AMT QLT MUNI	13,836	$140	0.0%	$10.09	—	COM	670656107
—	BLACKROCK MUNIYIELD QUALITY	12,842	$140	0.0%	$10.87	—	COM	09254E103
—	BLACKROCK MUNIVEST FD INC	12,751	$88	0.0%	$6.93	—	COM	09253R105

Increased Positions (38)

VEA VANGUARD TAX-MANAGED FDS 8.1%

Value ($000) $41,720 (+6.0%) Shares 667,846 (+1.7%) Est. Cost $56.76 Unrealized —

CAT CATERPILLAR INC 0.6%

Value ($000) $3,200 (+24.9%) Shares 5,586 (+4.0%) Est. Cost $430.44 Unrealized +29.1%

COF CAPITAL ONE FINL CORP 0.6%

Value ($000) $3,325 (+20.7%) Shares 13,719 (+5.9%) Est. Cost $218.04 Unrealized +1.9%

KMB KIMBERLY-CLARK CORP 0.2%

Value ($000) $837 (+122.1%) Shares 8,187 (+172.8%) Est. Cost $115.15 Unrealized -5.9%

AAPL APPLE INC 0.7%

Value ($000) $3,828 (+7.8%) Shares 14,080 (+1.0%) Est. Cost $201.85 Unrealized +32.9%

AMZN AMAZON COM INC 0.6%

Value ($000) $3,218 (+9.3%) Shares 13,942 (+4.0%) Est. Cost $205.36 Unrealized +11.4%

NVDA NVIDIA CORPORATION 0.8%

Value ($000) $4,250 (+6.3%) Shares 22,789 (+6.3%) Est. Cost $127.51 Unrealized +46.0%

VWO VANGUARD INTL EQUITY INDEX F 3.1%

Value ($000) $15,721 (+1.2%) Shares 292,437 (+2.0%) Est. Cost $50.05 Unrealized —

AGG ISHARES TR 2.7%

Value ($000) $13,842 (+1.3%) Shares 138,582 (+1.7%) Est. Cost $98.64 Unrealized —

IWM ISHARES TR 0.3%

Value ($000) $1,307 (+13.8%) Shares 5,308 (+11.9%) Est. Cost $226.53 Unrealized —

TTWO TAKE-TWO INTERACTIVE SOFTWAR 0.1%

Value ($000) $409 (+55.2%) Shares 1,596 (+56.6%) Est. Cost $193.96 Unrealized +28.5%

SPTL SPDR SERIES TRUST 1.4%

Value ($000) $7,390 (+1.7%) Shares 279,198 (+3.5%) Est. Cost $26.48 Unrealized —

OWL BLUE OWL CAPITAL INC 0.1%

Value ($000) $531 (+24.6%) Shares 35,518 (+41.2%) Est. Cost $18.03 Unrealized -13.3%

BSX BOSTON SCIENTIFIC CORP 0.1%

Value ($000) $439 (+31.2%) Shares 4,608 (+34.3%) Est. Cost $102.15 Unrealized -4.0%

WMT WALMART INC 0.2%

Value ($000) $1,207 (+9.4%) Shares 10,808 (+1.0%) Est. Cost $85.10 Unrealized +26.0%

ABBV ABBVIE INC 0.2%

Value ($000) $811 (+12.7%) Shares 3,551 (+14.2%) Est. Cost $182.39 Unrealized +24.8%

GLNG GOLAR LNG LTD 0.4%

Value ($000) $2,202 (+4.2%) Shares 59,183 (+13.2%) Est. Cost $40.59 Unrealized -6.2%

QQQ INVESCO QQQ TR 0.3%

Value ($000) $1,335 (+6.6%) Shares 2,173 (+4.3%) Est. Cost $601.61 Unrealized —

NEE NEXTERA ENERGY INC 0.1%

Value ($000) $619 (+15.3%) Shares 7,708 (+8.4%) Est. Cost $68.90 Unrealized +19.7%

ISRG INTUITIVE SURGICAL INC 0.1%

Value ($000) $353 (+28.5%) Shares 623 (+1.5%) Est. Cost $480.63 Unrealized +10.8%

XOM EXXON MOBIL CORP 0.2%

Value ($000) $994 (+8.1%) Shares 8,263 (+1.3%) Est. Cost $109.77 Unrealized +5.2%

UNH UNITEDHEALTH GROUP INC 0.1%

Value ($000) $326 (+29.3%) Shares 989 (+35.3%) Est. Cost $466.74 Unrealized -27.8%

AVGO BROADCOM INC 0.2%

Value ($000) $1,209 (+6.4%) Shares 3,493 (+1.5%) Est. Cost $191.09 Unrealized +86.8%

IBIT ISHARES BITCOIN TRUST ETF 0.1%

Value ($000) $286 (-19.8%) Shares 5,767 (+5.0%) Est. Cost $64.27 Unrealized —

UNP UNION PAC CORP 0.5%

Value ($000) $2,455 (+2.9%) Shares 10,611 (+5.2%) Est. Cost $223.36 Unrealized +1.8%

CRH CRH PLC 0.1%

Value ($000) $340 (+25.6%) Shares 2,725 (+20.7%) Est. Cost $107.92 Unrealized +10.4%

NOW SERVICENOW INC 0.1%

Value ($000) $269 (-15.6%) Shares 1,755 (+407.2%) Est. Cost $174.55 Unrealized -1.7%

MCD MCDONALDS CORP 0.1%

Value ($000) $460 (+9.3%) Shares 1,504 (+8.7%) Est. Cost $301.69 Unrealized +1.1%

TSLA TESLA INC 0.1%

Value ($000) $336 (+12.1%) Shares 747 (+10.8%) Est. Cost $356.26 Unrealized +24.4%

RDDT REDDIT INC 0.1%

Value ($000) $549 (+6.2%) Shares 2,390 (+6.2%) Est. Cost $204.45 Unrealized +2.9%

TRU TRANSUNION 0.1%

Value ($000) $338 (+9.4%) Shares 3,946 (+6.9%) Est. Cost $79.17 Unrealized +3.7%

SPOT SPOTIFY TECHNOLOGY S A 0.1%

Value ($000) $377 (-5.9%) Shares 649 (+13.1%) Est. Cost $690.68 Unrealized -9.5%

IVE ISHARES TR 0.1%

Value ($000) $333 (+4.5%) Shares 1,568 (+1.8%) Est. Cost $206.61 Unrealized —

VGSH VANGUARD SCOTTSDALE FDS 0.1%

Value ($000) $687 (+1.1%) Shares 11,691 (+1.3%) Est. Cost $58.69 Unrealized —

BN BROOKFIELD CORP 0.1%

Value ($000) $339 (+0.4%) Shares 7,377 (+50.0%) Est. Cost $33.55 Unrealized +35.7%

— BLACKROCK MUNIHOLDINGS FD IN 0.0%

Value ($000) $141 (+0.6%) Shares 12,038 (+1.2%) Est. Cost $11.30 Unrealized —

COP CONOCOPHILLIPS 0.1%

Value ($000) $288 (+0.1%) Shares 3,072 (+1.2%) Est. Cost $115.08 Unrealized -21.8%

— BLACKROCK MUNIYILD QULT FD I 0.0%

Value ($000) $139 (+0.2%) Shares 12,343 (+3.8%) Est. Cost $11.21 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VEA	VANGUARD TAX-MANAGED FDS	667,846 (+1.7%)	$41,720 (+6.0%)	8.1%	$56.76	—	VAN FTSE DEV MKT	921943858
CAT	CATERPILLAR INC	5,586 (+4.0%)	$3,200 (+24.9%)	0.6%	$430.44	+29.1%	COM	149123101
COF	CAPITAL ONE FINL CORP	13,719 (+5.9%)	$3,325 (+20.7%)	0.6%	$218.04	+1.9%	COM	14040H105
KMB	KIMBERLY-CLARK CORP	8,187 (+172.8%)	$837 (+122.1%)	0.2%	$115.15	-5.9%	COM	494368103
AAPL	APPLE INC	14,080 (+1.0%)	$3,828 (+7.8%)	0.7%	$201.85	+32.9%	COM	037833100
AMZN	AMAZON COM INC	13,942 (+4.0%)	$3,218 (+9.3%)	0.6%	$205.36	+11.4%	COM	023135106
NVDA	NVIDIA CORPORATION	22,789 (+6.3%)	$4,250 (+6.3%)	0.8%	$127.51	+46.0%	COM	67066G104
VWO	VANGUARD INTL EQUITY INDEX F	292,437 (+2.0%)	$15,721 (+1.2%)	3.1%	$50.05	—	FTSE EMR MKT ETF	922042858
AGG	ISHARES TR	138,582 (+1.7%)	$13,842 (+1.3%)	2.7%	$98.64	—	CORE US AGGBD ET	464287226
IWM	ISHARES TR	5,308 (+11.9%)	$1,307 (+13.8%)	0.3%	$226.53	—	RUSSELL 2000 ETF	464287655
TTWO	TAKE-TWO INTERACTIVE SOFTWAR	1,596 (+56.6%)	$409 (+55.2%)	0.1%	$193.96	+28.5%	COM	874054109
SPTL	SPDR SERIES TRUST	279,198 (+3.5%)	$7,390 (+1.7%)	1.4%	$26.48	—	STATE STREET SPD	78464A664
OWL	BLUE OWL CAPITAL INC	35,518 (+41.2%)	$531 (+24.6%)	0.1%	$18.03	-13.3%	COM CL A	09581B103
BSX	BOSTON SCIENTIFIC CORP	4,608 (+34.3%)	$439 (+31.2%)	0.1%	$102.15	-4.0%	COM	101137107
WMT	WALMART INC	10,808 (+1.0%)	$1,207 (+9.4%)	0.2%	$85.10	+26.0%	COM	931142103
ABBV	ABBVIE INC	3,551 (+14.2%)	$811 (+12.7%)	0.2%	$182.39	+24.8%	COM	00287Y109
GLNG	GOLAR LNG LTD	59,183 (+13.2%)	$2,202 (+4.2%)	0.4%	$40.59	-6.2%	SHS	G9456A100
QQQ	INVESCO QQQ TR	2,173 (+4.3%)	$1,335 (+6.6%)	0.3%	$601.61	—	UNIT SER 1	46090E103
NEE	NEXTERA ENERGY INC	7,708 (+8.4%)	$619 (+15.3%)	0.1%	$68.90	+19.7%	COM	65339F101
ISRG	INTUITIVE SURGICAL INC	623 (+1.5%)	$353 (+28.5%)	0.1%	$480.63	+10.8%	COM NEW	46120E602
XOM	EXXON MOBIL CORP	8,263 (+1.3%)	$994 (+8.1%)	0.2%	$109.77	+5.2%	COM	30231G102
UNH	UNITEDHEALTH GROUP INC	989 (+35.3%)	$326 (+29.3%)	0.1%	$466.74	-27.8%	COM	91324P102
AVGO	BROADCOM INC	3,493 (+1.5%)	$1,209 (+6.4%)	0.2%	$191.09	+86.8%	COM	11135F101
IBIT	ISHARES BITCOIN TRUST ETF	5,767 (+5.0%)	$286 (-19.8%)	0.1%	$64.27	—	SHS BEN INT	46438F101
UNP	UNION PAC CORP	10,611 (+5.2%)	$2,455 (+2.9%)	0.5%	$223.36	+1.8%	COM	907818108
CRH	CRH PLC	2,725 (+20.7%)	$340 (+25.6%)	0.1%	$107.92	+10.4%	ORD	G25508105
NOW	SERVICENOW INC	1,755 (+407.2%)	$269 (-15.6%)	0.1%	$174.55	-1.7%	COM	81762P102
MCD	MCDONALDS CORP	1,504 (+8.7%)	$460 (+9.3%)	0.1%	$301.69	+1.1%	COM	580135101
TSLA	TESLA INC	747 (+10.8%)	$336 (+12.1%)	0.1%	$356.26	+24.4%	COM	88160R101
RDDT	REDDIT INC	2,390 (+6.2%)	$549 (+6.2%)	0.1%	$204.45	+2.9%	CL A	75734B100
TRU	TRANSUNION	3,946 (+6.9%)	$338 (+9.4%)	0.1%	$79.17	+3.7%	COM	89400J107
SPOT	SPOTIFY TECHNOLOGY S A	649 (+13.1%)	$377 (-5.9%)	0.1%	$690.68	-9.5%	SHS	L8681T102
IVE	ISHARES TR	1,568 (+1.8%)	$333 (+4.5%)	0.1%	$206.61	—	S&P 500 VAL ETF	464287408
VGSH	VANGUARD SCOTTSDALE FDS	11,691 (+1.3%)	$687 (+1.1%)	0.1%	$58.69	—	SHORT TERM TREAS	92206C102
BN	BROOKFIELD CORP	7,377 (+50.0%)	$339 (+0.4%)	0.1%	$33.55	+35.7%	CL A LTD VT SH	11271J107
—	BLACKROCK MUNIHOLDINGS FD IN	12,038 (+1.2%)	$141 (+0.6%)	0.0%	$11.30	—	COM	09253N104
COP	CONOCOPHILLIPS	3,072 (+1.2%)	$288 (+0.1%)	0.1%	$115.08	-21.8%	COM	20825C104
—	BLACKROCK MUNIYILD QULT FD I	12,343 (+3.8%)	$139 (+0.2%)	0.0%	$11.21	—	COM	09254F100

Exited Positions (17)

— UNILEVER PLC 0.2%

Value ($000) $1,176 Shares 19,841 Est. Cost $59.28 Unrealized —

MTN VAIL RESORTS INC 0.2%

Value ($000) $1,091 Shares 7,296 Est. Cost $155.21 Unrealized -5.2%

CI THE CIGNA GROUP 0.2%

Value ($000) $877 Shares 3,041 Est. Cost $293.19 Unrealized -4.8%

CVX CHEVRON CORP NEW 0.1%

Value ($000) $552 Shares 3,554 Est. Cost $152.28 Unrealized -0.6%

MBLY MOBILEYE GLOBAL INC 0.1%

Value ($000) $508 Shares 36,000 Est. Cost $14.87 Unrealized -16.0%

SUI SUN CMNTYS INC 0.1%

Value ($000) $390 Shares 3,000 Est. Cost $130.04 Unrealized —

ETN EATON CORP PLC 0.1%

Value ($000) $376 Shares 1,004 Est. Cost $363.27 Unrealized -2.4%

— SYNOVUS FINL CORP 0.1%

Value ($000) $322 Shares 6,500 Est. Cost $49.47 Unrealized —

MSI MOTOROLA SOLUTIONS INC 0.1%

Value ($000) $285 Shares 622 Est. Cost $354.55 Unrealized +13.0%

CEPT CANTOR EQUITY PARTNERS II IN 0.0%

Value ($000) $149 Shares 14,185 Est. Cost $10.76 Unrealized +4.9%

— NUVEEN MUNICIPAL CREDIT INC 0.0%

Value ($000) $144 Shares 11,397 Est. Cost $12.01 Unrealized —

— INVESCO TR INVT GRADE MUNS 0.0%

Value ($000) $142 Shares 14,059 Est. Cost $9.54 Unrealized —

— NUVEEN AMT FREE QLTY MUN INC 0.0%

Value ($000) $142 Shares 12,416 Est. Cost $11.02 Unrealized —

— NUVEEN QUALITY MUNCP INCOME 0.0%

Value ($000) $141 Shares 12,024 Est. Cost $11.39 Unrealized —

— INVESCO MUN OPPORTUNITY TR 0.0%

Value ($000) $141 Shares 14,549 Est. Cost $9.22 Unrealized —

— INVESCO MUNICIPAL TRUST 0.0%

Value ($000) $138 Shares 14,352 Est. Cost $9.21 Unrealized —

— PIMCO CALIF MUN INCOME FD 0.0%

Value ($000) $96 Shares 10,998 Est. Cost $8.76 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNILEVER PLC	19,841	$1,176	0.2%	$59.28	—	—	904767704
MTN	VAIL RESORTS INC	7,296	$1,091	0.2%	$155.21	-5.2%	—	91879Q109
CI	THE CIGNA GROUP	3,041	$877	0.2%	$293.19	-4.8%	—	125523100
CVX	CHEVRON CORP NEW	3,554	$552	0.1%	$152.28	-0.6%	—	166764100
MBLY	MOBILEYE GLOBAL INC	36,000	$508	0.1%	$14.87	-16.0%	—	60741F104
SUI	SUN CMNTYS INC	3,000	$390	0.1%	$130.04	—	—	866674104
ETN	EATON CORP PLC	1,004	$376	0.1%	$363.27	-2.4%	—	G29183103
—	SYNOVUS FINL CORP	6,500	$322	0.1%	$49.47	—	—	87161C501
MSI	MOTOROLA SOLUTIONS INC	622	$285	0.1%	$354.55	+13.0%	—	620076307
CEPT	CANTOR EQUITY PARTNERS II IN	14,185	$149	0.0%	$10.76	+4.9%	—	G1827P106
—	NUVEEN MUNICIPAL CREDIT INC	11,397	$144	0.0%	$12.01	—	—	67070X101
—	INVESCO TR INVT GRADE MUNS	14,059	$142	0.0%	$9.54	—	—	46131M106
—	NUVEEN AMT FREE QLTY MUN INC	12,416	$142	0.0%	$11.02	—	—	670657105
—	NUVEEN QUALITY MUNCP INCOME	12,024	$141	0.0%	$11.39	—	—	67066V101
—	INVESCO MUN OPPORTUNITY TR	14,549	$141	0.0%	$9.22	—	—	46132C107
—	INVESCO MUNICIPAL TRUST	14,352	$138	0.0%	$9.21	—	—	46131J103
—	PIMCO CALIF MUN INCOME FD	10,998	$96	0.0%	$8.76	—	—	72200N106

Decreased Positions (48)

VB VANGUARD INDEX FDS 1.3%

Value ($000) $6,816 (-59.1%) Shares 26,423 (-59.5%) Est. Cost $240.56 Unrealized —

AUR AURORA INNOVATION INC 1.0%

Value ($000) $5,146 (-61.7%) Shares 1,340,223 (-46.3%) Est. Cost $6.11 Unrealized -25.1%

VGIT VANGUARD SCOTTSDALE FDS 6.9%

Value ($000) $35,387 (-15.9%) Shares 590,480 (-15.7%) Est. Cost $59.38 Unrealized —

USFR WISDOMTREE TR 3.4%

Value ($000) $17,518 (-16.7%) Shares 348,134 (-16.8%) Est. Cost $50.31 Unrealized —

KCCA KRANESHARES TRUST 0.1%

Value ($000) $261 (-91.5%) Shares 15,540 (-91.3%) Est. Cost $15.54 Unrealized —

LIF LIFE360 INC 0.2%

Value ($000) $919 (-59.9%) Shares 14,328 (-33.5%) Est. Cost $29.83 Unrealized +178.5%

ARMK ARAMARK 0.0%

Value ($000) $245 (-76.9%) Shares 6,655 (-75.9%) Est. Cost $40.17 Unrealized -5.6%

SPY SPDR S&P 500 ETF TR 0.6%

Value ($000) $2,862 (-21.8%) Shares 4,185 (-23.7%) Est. Cost $668.01 Unrealized —

ALIT ALIGHT INC 0.0%

Value ($000) $215 (-74.7%) Shares 110,000 (-57.7%) Est. Cost $4.31 Unrealized -42.9%

CNNE CANNAE HLDGS INC 0.1%

Value ($000) $346 (-61.4%) Shares 22,000 (-55.1%) Est. Cost $19.45 Unrealized -13.2%

AURA AURA BIOSCIENCES INC 0.1%

Value ($000) $413 (-54.7%) Shares 75,864 (-48.7%) Est. Cost $6.54 Unrealized -9.2%

GOOG ALPHABET INC 0.4%

Value ($000) $1,886 (+21.0%) Shares 6,010 (-6.0%) Est. Cost $169.02 Unrealized +69.4%

BWXT BWX TECHNOLOGIES INC 0.2%

Value ($000) $836 (-28.0%) Shares 4,838 (-23.2%) Est. Cost $160.55 Unrealized +16.7%

GLD SPDR GOLD TR 0.8%

Value ($000) $3,885 (+8.9%) Shares 9,803 (-2.3%) Est. Cost $355.47 Unrealized —

UBS UBS GROUP AG 0.6%

Value ($000) $3,125 (+9.9%) Shares 67,470 (-2.7%) Est. Cost $38.84 Unrealized +4.0%

VTI VANGUARD INDEX FDS 1.5%

Value ($000) $7,955 (-3.3%) Shares 23,727 (-5.1%) Est. Cost $322.36 Unrealized —

BP BP PLC 0.2%

Value ($000) $972 (-20.5%) Shares 27,993 (-21.1%) Est. Cost $34.46 Unrealized —

META META PLATFORMS INC 0.3%

Value ($000) $1,432 (-12.5%) Shares 2,169 (-2.7%) Est. Cost $529.11 Unrealized +26.1%

GM GENERAL MTRS CO 0.2%

Value ($000) $1,227 (+11.4%) Shares 15,091 (-16.5%) Est. Cost $55.55 Unrealized +26.7%

CNX CNX RES CORP 0.1%

Value ($000) $260 (-31.3%) Shares 7,077 (-40.0%) Est. Cost $30.64 Unrealized +16.9%

COST COSTCO WHSL CORP NEW 0.1%

Value ($000) $758 (-13.3%) Shares 879 (-6.9%) Est. Cost $897.43 Unrealized +0.9%

MSCI MSCI INC 0.0%

Value ($000) $246 (-31.8%) Shares 429 (-32.5%) Est. Cost $486.44 Unrealized +15.1%

MCK MCKESSON CORP 0.1%

Value ($000) $326 (-24.8%) Shares 397 (-29.2%) Est. Cost $555.42 Unrealized +46.8%

JPM JPMORGAN CHASE & CO. 0.2%

Value ($000) $1,072 (-8.4%) Shares 3,327 (-10.3%) Est. Cost $205.26 Unrealized +50.8%

JNJ JOHNSON & JOHNSON 0.2%

Value ($000) $1,172 (+9.1%) Shares 5,664 (-2.3%) Est. Cost $165.91 Unrealized +18.7%

COR CENCORA INC 0.1%

Value ($000) $276 (-25.5%) Shares 818 (-31.1%) Est. Cost $229.39 Unrealized +48.5%

OI O-I GLASS INC 0.4%

Value ($000) $2,089 (-3.7%) Shares 141,546 (-15.4%) Est. Cost $13.64 Unrealized -3.0%

APO APOLLO GLOBAL MGMT INC 0.1%

Value ($000) $384 (-17.3%) Shares 2,654 (-23.8%) Est. Cost $129.02 Unrealized +2.7%

IAC IAC INC 0.3%

Value ($000) $1,655 (-4.4%) Shares 42,322 (-16.7%) Est. Cost $37.31 Unrealized -6.1%

AMAT APPLIED MATLS INC 0.1%

Value ($000) $460 (+18.9%) Shares 1,791 (-5.2%) Est. Cost $180.78 Unrealized +32.5%

SPRY ARS PHARMACEUTICALS INC 0.1%

Value ($000) $609 (+13.7%) Shares 52,306 (-1.9%) Est. Cost $14.35 Unrealized -32.2%

VZ VERIZON COMMUNICATIONS INC 0.1%

Value ($000) $618 (-10.6%) Shares 15,164 (-3.5%) Est. Cost $42.49 Unrealized -4.7%

EXE EXPAND ENERGY CORPORATION 0.5%

Value ($000) $2,632 (+2.4%) Shares 23,845 (-1.4%) Est. Cost $99.11 Unrealized +11.6%

DEO DIAGEO PLC 0.0%

Value ($000) $210 (-21.8%) Shares 2,436 (-13.5%) Est. Cost $95.43 Unrealized —

C CITIGROUP INC 0.2%

Value ($000) $1,184 (-4.4%) Shares 10,148 (-16.8%) Est. Cost $94.11 Unrealized +10.1%

ISHG ISHARES TR 0.1%

Value ($000) $433 (-10.6%) Shares 5,749 (-9.5%) Est. Cost $76.18 Unrealized —

SPGI S&P GLOBAL INC 0.2%

Value ($000) $871 (+5.4%) Shares 1,667 (-1.8%) Est. Cost $497.04 Unrealized -0.6%

TMO THERMO FISHER SCIENTIFIC INC 0.1%

Value ($000) $280 (-10.6%) Shares 482 (-25.2%) Est. Cost $567.24 Unrealized -0.4%

KBWB INVESCO EXCH TRADED FD TR II 0.1%

Value ($000) $731 (+4.4%) Shares 8,670 (-3.1%) Est. Cost $62.77 Unrealized —

— PIMCO MUN INCOME FD II 0.0%

Value ($000) $138 (-16.5%) Shares 18,185 (-12.4%) Est. Cost $7.75 Unrealized —

BC BRUNSWICK CORP 0.1%

Value ($000) $685 (-3.5%) Shares 9,230 (-17.8%) Est. Cost $61.42 Unrealized +9.9%

HWM HOWMET AEROSPACE INC 0.1%

Value ($000) $303 (-5.0%) Shares 1,477 (-9.1%) Est. Cost $90.31 Unrealized +120.3%

IBM INTERNATIONAL BUSINESS MACHS 0.1%

Value ($000) $597 (-2.1%) Shares 2,015 (-6.8%) Est. Cost $259.55 Unrealized +15.1%

BAC BANK AMERICA CORP 0.1%

Value ($000) $640 (-1.3%) Shares 11,645 (-7.4%) Est. Cost $36.84 Unrealized +43.0%

V VISA INC 0.2%

Value ($000) $869 (-0.8%) Shares 2,479 (-3.5%) Est. Cost $274.79 Unrealized +23.9%

DHR DANAHER CORPORATION 0.1%

Value ($000) $263 (-2.1%) Shares 1,149 (-15.2%) Est. Cost $248.70 Unrealized -11.7%

QUAL ISHARES TR 0.1%

Value ($000) $272 (-0.4%) Shares 1,371 (-2.5%) Est. Cost $178.01 Unrealized —

EFA ISHARES TR 0.1%

Value ($000) $425 (-0.0%) Shares 4,425 (-2.8%) Est. Cost $93.37 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VB	VANGUARD INDEX FDS	26,423 (-59.5%)	$6,816 (-59.1%)	1.3%	$240.56	—	SMALL CP ETF	922908751
AUR	AURORA INNOVATION INC	1,340,223 (-46.3%)	$5,146 (-61.7%)	1.0%	$6.11	-25.1%	CLASS A COM	051774107
VGIT	VANGUARD SCOTTSDALE FDS	590,480 (-15.7%)	$35,387 (-15.9%)	6.9%	$59.38	—	INTER TERM TREAS	92206C706
USFR	WISDOMTREE TR	348,134 (-16.8%)	$17,518 (-16.7%)	3.4%	$50.31	—	FLOATNG RAT TREA	97717Y527
KCCA	KRANESHARES TRUST	15,540 (-91.3%)	$261 (-91.5%)	0.1%	$15.54	—	CALIFORNIA CARB	500767553
LIF	LIFE360 INC	14,328 (-33.5%)	$919 (-59.9%)	0.2%	$29.83	+178.5%	COM	532206109
ARMK	ARAMARK	6,655 (-75.9%)	$245 (-76.9%)	0.0%	$40.17	-5.6%	COM	03852U106
SPY	SPDR S&P 500 ETF TR	4,185 (-23.7%)	$2,862 (-21.8%)	0.6%	$668.01	—	TR UNIT	78462F103
ALIT	ALIGHT INC	110,000 (-57.7%)	$215 (-74.7%)	0.0%	$4.31	-42.9%	COM CL A	01626W101
CNNE	CANNAE HLDGS INC	22,000 (-55.1%)	$346 (-61.4%)	0.1%	$19.45	-13.2%	COM	13765N107
AURA	AURA BIOSCIENCES INC	75,864 (-48.7%)	$413 (-54.7%)	0.1%	$6.54	-9.2%	COM	05153U107
GOOG	ALPHABET INC	6,010 (-6.0%)	$1,886 (+21.0%)	0.4%	$169.02	+69.4%	CAP STK CL C	02079K107
BWXT	BWX TECHNOLOGIES INC	4,838 (-23.2%)	$836 (-28.0%)	0.2%	$160.55	+16.7%	COM	05605H100
GLD	SPDR GOLD TR	9,803 (-2.3%)	$3,885 (+8.9%)	0.8%	$355.47	—	GOLD SHS	78463V107
UBS	UBS GROUP AG	67,470 (-2.7%)	$3,125 (+9.9%)	0.6%	$38.84	+4.0%	SHS	H42097107
VTI	VANGUARD INDEX FDS	23,727 (-5.1%)	$7,955 (-3.3%)	1.5%	$322.36	—	TOTAL STK MKT	922908769
BP	BP PLC	27,993 (-21.1%)	$972 (-20.5%)	0.2%	$34.46	—	SPONSORED ADR	055622104
META	META PLATFORMS INC	2,169 (-2.7%)	$1,432 (-12.5%)	0.3%	$529.11	+26.1%	CL A	30303M102
GM	GENERAL MTRS CO	15,091 (-16.5%)	$1,227 (+11.4%)	0.2%	$55.55	+26.7%	COM	37045V100
CNX	CNX RES CORP	7,077 (-40.0%)	$260 (-31.3%)	0.1%	$30.64	+16.9%	COM	12653C108
COST	COSTCO WHSL CORP NEW	879 (-6.9%)	$758 (-13.3%)	0.1%	$897.43	+0.9%	COM	22160K105
MSCI	MSCI INC	429 (-32.5%)	$246 (-31.8%)	0.0%	$486.44	+15.1%	COM	55354G100
MCK	MCKESSON CORP	397 (-29.2%)	$326 (-24.8%)	0.1%	$555.42	+46.8%	COM	58155Q103
JPM	JPMORGAN CHASE & CO.	3,327 (-10.3%)	$1,072 (-8.4%)	0.2%	$205.26	+50.8%	COM	46625H100
JNJ	JOHNSON & JOHNSON	5,664 (-2.3%)	$1,172 (+9.1%)	0.2%	$165.91	+18.7%	COM	478160104
COR	CENCORA INC	818 (-31.1%)	$276 (-25.5%)	0.1%	$229.39	+48.5%	COM	03073E105
OI	O-I GLASS INC	141,546 (-15.4%)	$2,089 (-3.7%)	0.4%	$13.64	-3.0%	COM	67098H104
APO	APOLLO GLOBAL MGMT INC	2,654 (-23.8%)	$384 (-17.3%)	0.1%	$129.02	+2.7%	COM	03769M106
IAC	IAC INC	42,322 (-16.7%)	$1,655 (-4.4%)	0.3%	$37.31	-6.1%	COM NEW	44891N208
AMAT	APPLIED MATLS INC	1,791 (-5.2%)	$460 (+18.9%)	0.1%	$180.78	+32.5%	COM	038222105
SPRY	ARS PHARMACEUTICALS INC	52,306 (-1.9%)	$609 (+13.7%)	0.1%	$14.35	-32.2%	COM	82835W108
VZ	VERIZON COMMUNICATIONS INC	15,164 (-3.5%)	$618 (-10.6%)	0.1%	$42.49	-4.7%	COM	92343V104
EXE	EXPAND ENERGY CORPORATION	23,845 (-1.4%)	$2,632 (+2.4%)	0.5%	$99.11	+11.6%	COM	165167735
DEO	DIAGEO PLC	2,436 (-13.5%)	$210 (-21.8%)	0.0%	$95.43	—	SPON ADR NEW	25243Q205
C	CITIGROUP INC	10,148 (-16.8%)	$1,184 (-4.4%)	0.2%	$94.11	+10.1%	COM NEW	172967424
ISHG	ISHARES TR	5,749 (-9.5%)	$433 (-10.6%)	0.1%	$76.18	—	3YRTB ETF	464288125
SPGI	S&P GLOBAL INC	1,667 (-1.8%)	$871 (+5.4%)	0.2%	$497.04	-0.6%	COM	78409V104
TMO	THERMO FISHER SCIENTIFIC INC	482 (-25.2%)	$280 (-10.6%)	0.1%	$567.24	-0.4%	COM	883556102
KBWB	INVESCO EXCH TRADED FD TR II	8,670 (-3.1%)	$731 (+4.4%)	0.1%	$62.77	—	KBW BK ETF	46138E628
—	PIMCO MUN INCOME FD II	18,185 (-12.4%)	$138 (-16.5%)	0.0%	$7.75	—	COM	72200W106
BC	BRUNSWICK CORP	9,230 (-17.8%)	$685 (-3.5%)	0.1%	$61.42	+9.9%	COM	117043109
HWM	HOWMET AEROSPACE INC	1,477 (-9.1%)	$303 (-5.0%)	0.1%	$90.31	+120.3%	COM	443201108
IBM	INTERNATIONAL BUSINESS MACHS	2,015 (-6.8%)	$597 (-2.1%)	0.1%	$259.55	+15.1%	COM	459200101
BAC	BANK AMERICA CORP	11,645 (-7.4%)	$640 (-1.3%)	0.1%	$36.84	+43.0%	COM	060505104
V	VISA INC	2,479 (-3.5%)	$869 (-0.8%)	0.2%	$274.79	+23.9%	COM CL A	92826C839
DHR	DANAHER CORPORATION	1,149 (-15.2%)	$263 (-2.1%)	0.1%	$248.70	-11.7%	COM	235851102
QUAL	ISHARES TR	1,371 (-2.5%)	$272 (-0.4%)	0.1%	$178.01	—	MSCI USA QLT FCT	46432F339
EFA	ISHARES TR	4,425 (-2.8%)	$425 (-0.0%)	0.1%	$93.37	—	MSCI EAFE ETF	464287465

Unchanged Positions (48)

VOO VANGUARD INDEX FDS 30.0%

Value ($000) $153,973 Shares 245,519 Est. Cost $585.68 Unrealized —

MSFT MICROSOFT CORP 6.8%

Value ($000) $34,912 Shares 72,189 Est. Cost $424.82 Unrealized +17.8%

GOOGL ALPHABET INC 0.6%

Value ($000) $3,108 Shares 9,931 Est. Cost $202.44 Unrealized +41.1%

RSP INVESCO EXCHANGE TRADED FD T 8.1%

Value ($000) $41,778 Shares 218,091 Est. Cost $182.71 Unrealized —

CDZI CADIZ INC 0.5%

Value ($000) $2,785 Shares 496,519 Est. Cost $3.49 Unrealized +53.7%

ACTG ACACIA RESH CORP 0.3%

Value ($000) $1,516 Shares 405,345 Est. Cost $3.46 Unrealized +3.6%

ACWI ISHARES TR 1.5%

Value ($000) $7,762 Shares 54,862 Est. Cost $138.24 Unrealized —

BK BANK NEW YORK MELLON CORP 0.5%

Value ($000) $2,412 Shares 20,773 Est. Cost $101.35 Unrealized +9.0%

AXS AXIS CAP HLDGS LTD 0.3%

Value ($000) $1,329 Shares 12,355 Est. Cost $96.84 Unrealized +2.6%

TECK TECK RESOURCES LTD 0.3%

Value ($000) $1,545 Shares 32,270 Est. Cost $36.34 Unrealized +19.2%

NWSA NEWS CORP NEW 0.1%

Value ($000) $689 Shares 26,361 Est. Cost $29.56 Unrealized -11.3%

PCG PG&E CORP 0.3%

Value ($000) $1,612 Shares 100,029 Est. Cost $14.52 Unrealized +9.7%

AIG AMERICAN INTL GROUP INC 0.2%

Value ($000) $1,099 Shares 12,844 Est. Cost $79.11 Unrealized +0.7%

B BARRICK MNG CORP 0.1%

Value ($000) $349 Shares 8,025 Est. Cost $25.15 Unrealized +48.8%

L LOEWS CORP 0.3%

Value ($000) $1,628 Shares 15,455 Est. Cost $94.44 Unrealized +9.3%

MRSH MARSH & MCLENNAN COS INC 0.1%

Value ($000) $600 Shares 3,236 Est. Cost $204.01 Unrealized -8.6%

IWF ISHARES TR 0.8%

Value ($000) $4,147 Shares 8,762 Est. Cost $424.58 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 0.4%

Value ($000) $2,024 Shares 14,345 Est. Cost $137.80 Unrealized —

HZO MARINEMAX INC 0.2%

Value ($000) $1,025 Shares 42,302 Est. Cost $25.48 Unrealized -3.2%

JBS JBS N.V. 0.2%

Value ($000) $1,180 Shares 81,797 Est. Cost $14.58 Unrealized -5.8%

MGM MGM RESORTS INTERNATIONAL 0.2%

Value ($000) $777 Shares 21,288 Est. Cost $36.70 Unrealized -7.5%

TBLA TABOOLA.COM LTD 0.0%

Value ($000) $138 Shares 30,000 Est. Cost $3.42 Unrealized +9.9%

KO COCA COLA CO 0.2%

Value ($000) $844 Shares 12,069 Est. Cost $67.92 Unrealized +2.2%

HLT HILTON WORLDWIDE HLDGS INC 0.0%

Value ($000) $257 Shares 893 Est. Cost $213.65 Unrealized +27.4%

CCK CROWN HLDGS INC 0.1%

Value ($000) $392 Shares 3,807 Est. Cost $99.95 Unrealized -2.6%

DLR DIGITAL RLTY TR INC 0.0%

Value ($000) $229 Shares 1,470 Est. Cost $158.03 Unrealized +3.2%

GLW CORNING INC 0.0%

Value ($000) $256 Shares 2,925 Est. Cost $64.97 Unrealized +32.3%

BGC BGC GROUP INC 0.0%

Value ($000) $253 Shares 28,378 Est. Cost $9.98 Unrealized -9.9%

AES AES CORP 0.0%

Value ($000) $182 Shares 12,699 Est. Cost $12.77 Unrealized +9.9%

NOC NORTHROP GRUMMAN CORP 0.0%

Value ($000) $254 Shares 446 Est. Cost $451.59 Unrealized +28.2%

DE DEERE & CO 0.1%

Value ($000) $685 Shares 1,467 Est. Cost $489.64 Unrealized -4.5%

BATRA ATLANTA BRAVES HLDGS INC 0.0%

Value ($000) $212 Shares 5,000 Est. Cost $47.28 Unrealized -9.1%

ICE INTERCONTINENTAL EXCHANGE IN 0.1%

Value ($000) $420 Shares 2,594 Est. Cost $136.77 Unrealized +14.2%

SHW SHERWIN WILLIAMS CO 0.0%

Value ($000) $224 Shares 691 Est. Cost $351.39 Unrealized -4.9%

RPC P10 INC 0.0%

Value ($000) $133 Shares 13,551 Est. Cost $7.98 Unrealized +27.1%

NTRS NORTHERN TR CORP 0.2%

Value ($000) $824 Shares 5,998 Est. Cost $127.35 Unrealized +2.7%

AEE AMEREN CORP 0.1%

Value ($000) $291 Shares 2,919 Est. Cost $69.05 Unrealized +47.7%

FTNT FORTINET INC 0.0%

Value ($000) $206 Shares 2,594 Est. Cost $62.18 Unrealized +33.4%

AGNC AGNC INVT CORP 0.0%

Value ($000) $117 Shares 10,800 Est. Cost $9.70 Unrealized —

IT GARTNER INC 0.0%

Value ($000) $241 Shares 955 Est. Cost $412.55 Unrealized -41.7%

FDVV FIDELITY COVINGTON TRUST 0.1%

Value ($000) $402 Shares 7,097 Est. Cost $49.60 Unrealized —

ALK ALASKA AIR GROUP INC 0.1%

Value ($000) $623 Shares 12,394 Est. Cost $55.61 Unrealized -16.9%

HNRG HALLADOR ENERGY COMPANY 0.0%

Value ($000) $224 Shares 11,777 Est. Cost $17.18 Unrealized +17.9%

DFAC DIMENSIONAL ETF TRUST 0.0%

Value ($000) $208 Shares 5,250 Est. Cost $38.57 Unrealized —

VTV VANGUARD INDEX FDS 0.0%

Value ($000) $215 Shares 1,125 Est. Cost $187.43 Unrealized —

PCAPU PROCAP ACQUISITION CORP 0.0%

Value ($000) $144 Shares 14,038 Est. Cost $10.50 Unrealized —

SPH SUBURBAN PROPANE PARTNERS L 0.0%

Value ($000) $234 Shares 12,614 Est. Cost $18.65 Unrealized —

FBND FIDELITY MERRIMACK STR TR 0.1%

Value ($000) $368 Shares 7,942 Est. Cost $45.83 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VOO	VANGUARD INDEX FDS	245,519	$153,973	30.0%	$585.68	—	S&P 500 ETF SHS	922908363
MSFT	MICROSOFT CORP	72,189	$34,912	6.8%	$424.82	+17.8%	COM	594918104
GOOGL	ALPHABET INC	9,931	$3,108	0.6%	$202.44	+41.1%	CAP STK CL A	02079K305
RSP	INVESCO EXCHANGE TRADED FD T	218,091	$41,778	8.1%	$182.71	—	S&P500 EQL WGT	46137V357
CDZI	CADIZ INC	496,519	$2,785	0.5%	$3.49	+53.7%	COM NEW	127537207
ACTG	ACACIA RESH CORP	405,345	$1,516	0.3%	$3.46	+3.6%	ACACIA TCH COM	003881307
ACWI	ISHARES TR	54,862	$7,762	1.5%	$138.24	—	MSCI ACWI ETF	464288257
BK	BANK NEW YORK MELLON CORP	20,773	$2,412	0.5%	$101.35	+9.0%	COM	064058100
AXS	AXIS CAP HLDGS LTD	12,355	$1,329	0.3%	$96.84	+2.6%	SHS	G0692U109
TECK	TECK RESOURCES LTD	32,270	$1,545	0.3%	$36.34	+19.2%	CL B	878742204
NWSA	NEWS CORP NEW	26,361	$689	0.1%	$29.56	-11.3%	CL A	65249B109
PCG	PG&E CORP	100,029	$1,612	0.3%	$14.52	+9.7%	COM	69331C108
AIG	AMERICAN INTL GROUP INC	12,844	$1,099	0.2%	$79.11	+0.7%	COM NEW	026874784
B	BARRICK MNG CORP	8,025	$349	0.1%	$25.15	+48.8%	COM SHS	06849F108
L	LOEWS CORP	15,455	$1,628	0.3%	$94.44	+9.3%	COM	540424108
MRSH	MARSH & MCLENNAN COS INC	3,236	$600	0.1%	$204.01	-8.6%	COM	571748102
IWF	ISHARES TR	8,762	$4,147	0.8%	$424.58	—	RUS 1000 GRW ETF	464287614
VT	VANGUARD INTL EQUITY INDEX F	14,345	$2,024	0.4%	$137.80	—	TT WRLD ST ETF	922042742
HZO	MARINEMAX INC	42,302	$1,025	0.2%	$25.48	-3.2%	COM	567908108
JBS	JBS N.V.	81,797	$1,180	0.2%	$14.58	-5.8%	CL A SHS	N4732M103
MGM	MGM RESORTS INTERNATIONAL	21,288	$777	0.2%	$36.70	-7.5%	COM	552953101
TBLA	TABOOLA.COM LTD	30,000	$138	0.0%	$3.42	+9.9%	ORD SHS	M8744T106
KO	COCA COLA CO	12,069	$844	0.2%	$67.92	+2.2%	COM	191216100
HLT	HILTON WORLDWIDE HLDGS INC	893	$257	0.0%	$213.65	+27.4%	COM	43300A203
CCK	CROWN HLDGS INC	3,807	$392	0.1%	$99.95	-2.6%	COM	228368106
DLR	DIGITAL RLTY TR INC	1,470	$229	0.0%	$158.03	+3.2%	COM	253868103
GLW	CORNING INC	2,925	$256	0.0%	$64.97	+32.3%	COM	219350105
BGC	BGC GROUP INC	28,378	$253	0.0%	$9.98	-9.9%	CL A	088929104
AES	AES CORP	12,699	$182	0.0%	$12.77	+9.9%	COM	00130H105
NOC	NORTHROP GRUMMAN CORP	446	$254	0.0%	$451.59	+28.2%	COM	666807102
DE	DEERE & CO	1,467	$685	0.1%	$489.64	-4.5%	COM	244199105
BATRA	ATLANTA BRAVES HLDGS INC	5,000	$212	0.0%	$47.28	-9.1%	COM SER A	047726104
ICE	INTERCONTINENTAL EXCHANGE IN	2,594	$420	0.1%	$136.77	+14.2%	COM	45866F104
SHW	SHERWIN WILLIAMS CO	691	$224	0.0%	$351.39	-4.9%	COM	824348106
RPC	P10 INC	13,551	$133	0.0%	$7.98	+27.1%	COM CL A	69376K106
NTRS	NORTHERN TR CORP	5,998	$824	0.2%	$127.35	+2.7%	COM	665859104
AEE	AMEREN CORP	2,919	$291	0.1%	$69.05	+47.7%	COM	023608102
FTNT	FORTINET INC	2,594	$206	0.0%	$62.18	+33.4%	COM	34959E109
AGNC	AGNC INVT CORP	10,800	$117	0.0%	$9.70	—	COM	00123Q104
IT	GARTNER INC	955	$241	0.0%	$412.55	-41.7%	COM	366651107
FDVV	FIDELITY COVINGTON TRUST	7,097	$402	0.1%	$49.60	—	HIGH DIVID ETF	316092840
ALK	ALASKA AIR GROUP INC	12,394	$623	0.1%	$55.61	-16.9%	COM	011659109
HNRG	HALLADOR ENERGY COMPANY	11,777	$224	0.0%	$17.18	+17.9%	COM	40609P105
DFAC	DIMENSIONAL ETF TRUST	5,250	$208	0.0%	$38.57	—	US CORE EQUITY 2	25434V708
VTV	VANGUARD INDEX FDS	1,125	$215	0.0%	$187.43	—	VALUE ETF	922908744
PCAPU	PROCAP ACQUISITION CORP	14,038	$144	0.0%	$10.50	—	UNIT 05/16/2030	G7257A113
SPH	SUBURBAN PROPANE PARTNERS L	12,614	$234	0.0%	$18.65	—	UNIT LTD PARTN	864482104
FBND	FIDELITY MERRIMACK STR TR	7,942	$368	0.1%	$45.83	—	TOTAL BD ETF	316188309