TT Capital Management LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MLPA	GLOBAL X FDS	16,800	$813	0.6%	$48.41	—	GLBL X MLP ETF	37954Y343
BXSL	BLACKSTONE SECD LENDING FD	27,850	$733	0.6%	$26.09	0.0%	COMMON STOCK	09261X102
OWL	BLUE OWL CAPITAL INC	31,200	$466	0.4%	$15.64	0.0%	COM CL A	09581B103
LYB	LYONDELLBASELL INDUSTRIES N	8,785	$380	0.3%	$44.45	0.0%	SHS - A -	N53745100
CCAP	CRESCENT CAP BDC INC	26,336	$370	0.3%	$13.81	0.0%	COM	225655109
KHC	KRAFT HEINZ CO	14,824	$359	0.3%	$24.63	0.0%	COM	500754106
KBDC	KAYNE ANDERSON BDC INC	21,500	$308	0.2%	$14.18	0.0%	COM SHS	48662X105
ET	ENERGY TRANSFER L P	17,500	$289	0.2%	$16.49	—	COM UT LTD PTN	29273V100
CNQ	CANADIAN NAT RES LTD	7,654	$259	0.2%	$32.42	0.0%	COM	136385101
UDR	UDR INC	7,000	$257	0.2%	$35.52	0.0%	COM	902653104
AIG	AMERICAN INTL GROUP INC	2,401	$205	0.2%	$79.68	0.0%	COM NEW	026874784
GBDC	GOLUB CAP BDC INC	10,003	$136	0.1%	$13.54	0.0%	COM	38173M102

Increased Positions (20)

ARE ALEXANDRIA REAL ESTATE EQ IN 3.2%

Value ($000) $3,990 (-30.4%) Shares 81,523 (+18.5%) Est. Cost $81.53 Unrealized -28.8%

VICI VICI PPTYS INC 5.1%

Value ($000) $6,424 (+32.9%) Shares 228,452 (+54.1%) Est. Cost $29.42 Unrealized -0.4%

MAA MID-AMER APT CMNTYS INC 1.8%

Value ($000) $2,225 (+84.9%) Shares 16,015 (+86.0%) Est. Cost $139.90 Unrealized -4.9%

NNN NNN REIT INC 1.8%

Value ($000) $2,313 (+44.9%) Shares 58,357 (+55.7%) Est. Cost $40.94 Unrealized —

CPT CAMDEN PPTY TR 1.1%

Value ($000) $1,422 (+22.9%) Shares 12,916 (+19.3%) Est. Cost $112.12 Unrealized -8.0%

OKE ONEOK INC NEW 0.7%

Value ($000) $936 (+35.8%) Shares 12,740 (+34.8%) Est. Cost $73.87 Unrealized -4.6%

OXY OCCIDENTAL PETE CORP 0.6%

Value ($000) $698 (+51.6%) Shares 16,965 (+74.2%) Est. Cost $45.81 Unrealized -9.3%

EPD ENTERPRISE PRODS PARTNERS L 0.5%

Value ($000) $653 (+48.4%) Shares 20,370 (+44.8%) Est. Cost $32.39 Unrealized —

MSDL MORGAN STANLEY DIRECT LENDIN 4.0%

Value ($000) $4,993 (+4.3%) Shares 302,946 (+1.8%) Est. Cost $18.01 Unrealized -8.8%

DOW DOW INC 0.4%

Value ($000) $442 (+82.8%) Shares 18,900 (+79.2%) Est. Cost $31.72 Unrealized -28.2%

AHH ARMADA HOFFLER PPTYS INC 0.8%

Value ($000) $981 (+17.6%) Shares 148,175 (+24.5%) Est. Cost $7.55 Unrealized —

CNC CENTENE CORP DEL 0.5%

Value ($000) $639 (+26.8%) Shares 15,525 (+9.9%) Est. Cost $30.86 Unrealized +21.3%

GSBD GOLDMAN SACHS BDC INC 0.3%

Value ($000) $372 (+44.2%) Shares 40,050 (+58.0%) Est. Cost $10.80 Unrealized -9.2%

OBDC BLUE OWL CAPITAL CORPORATION 3.1%

Value ($000) $3,834 (+2.6%) Shares 308,480 (+5.4%) Est. Cost $13.17 Unrealized -6.2%

DEO DIAGEO PLC 0.3%

Value ($000) $431 (+28.6%) Shares 4,998 (+42.3%) Est. Cost $104.47 Unrealized —

DEA EASTERLY GOVT PPTYS INC 1.1%

Value ($000) $1,394 (+4.7%) Shares 65,780 (+13.3%) Est. Cost $22.55 Unrealized —

TPL TEXAS PACIFIC LAND CORPORATI 0.2%

Value ($000) $308 (-15.5%) Shares 1,071 (+174.6%) Est. Cost $339.47 Unrealized -10.1%

PFFA ETFIS SER TR I 1.4%

Value ($000) $1,768 (+1.6%) Shares 82,050 (+2.3%) Est. Cost $21.71 Unrealized —

BN BROOKFIELD CORP 0.6%

Value ($000) $754 (-3.2%) Shares 16,425 (+44.7%) Est. Cost $39.92 Unrealized +14.1%

FSK FS KKR CAP CORP 1.0%

Value ($000) $1,309 (+0.6%) Shares 88,416 (+1.4%) Est. Cost $18.19 Unrealized -19.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ARE	ALEXANDRIA REAL ESTATE EQ IN	81,523 (+18.5%)	$3,990 (-30.4%)	3.2%	$81.53	-28.8%	COM	015271109
VICI	VICI PPTYS INC	228,452 (+54.1%)	$6,424 (+32.9%)	5.1%	$29.42	-0.4%	COM	925652109
MAA	MID-AMER APT CMNTYS INC	16,015 (+86.0%)	$2,225 (+84.9%)	1.8%	$139.90	-4.9%	COM	59522J103
NNN	NNN REIT INC	58,357 (+55.7%)	$2,313 (+44.9%)	1.8%	$40.94	—	COM	637417106
CPT	CAMDEN PPTY TR	12,916 (+19.3%)	$1,422 (+22.9%)	1.1%	$112.12	-8.0%	SH BEN INT	133131102
OKE	ONEOK INC NEW	12,740 (+34.8%)	$936 (+35.8%)	0.7%	$73.87	-4.6%	COM	682680103
OXY	OCCIDENTAL PETE CORP	16,965 (+74.2%)	$698 (+51.6%)	0.6%	$45.81	-9.3%	COM	674599105
EPD	ENTERPRISE PRODS PARTNERS L	20,370 (+44.8%)	$653 (+48.4%)	0.5%	$32.39	—	COM	293792107
MSDL	MORGAN STANLEY DIRECT LENDIN	302,946 (+1.8%)	$4,993 (+4.3%)	4.0%	$18.01	-8.8%	COM SHS	61774A103
DOW	DOW INC	18,900 (+79.2%)	$442 (+82.8%)	0.4%	$31.72	-28.2%	COM	260557103
AHH	ARMADA HOFFLER PPTYS INC	148,175 (+24.5%)	$981 (+17.6%)	0.8%	$7.55	—	COM	04208T108
CNC	CENTENE CORP DEL	15,525 (+9.9%)	$639 (+26.8%)	0.5%	$30.86	+21.3%	COM	15135B101
GSBD	GOLDMAN SACHS BDC INC	40,050 (+58.0%)	$372 (+44.2%)	0.3%	$10.80	-9.2%	SHS	38147U107
OBDC	BLUE OWL CAPITAL CORPORATION	308,480 (+5.4%)	$3,834 (+2.6%)	3.1%	$13.17	-6.2%	COM	69121K104
DEO	DIAGEO PLC	4,998 (+42.3%)	$431 (+28.6%)	0.3%	$104.47	—	SPON ADR NEW	25243Q205
DEA	EASTERLY GOVT PPTYS INC	65,780 (+13.3%)	$1,394 (+4.7%)	1.1%	$22.55	—	COM SHS	27616P301
TPL	TEXAS PACIFIC LAND CORPORATI	1,071 (+174.6%)	$308 (-15.5%)	0.2%	$339.47	-10.1%	COM	88262P102
PFFA	ETFIS SER TR I	82,050 (+2.3%)	$1,768 (+1.6%)	1.4%	$21.71	—	VIRTUS INFRCAP	26923G822
BN	BROOKFIELD CORP	16,425 (+44.7%)	$754 (-3.2%)	0.6%	$39.92	+14.1%	CL A LTD VT SH	11271J107
FSK	FS KKR CAP CORP	88,416 (+1.4%)	$1,309 (+0.6%)	1.0%	$18.19	-19.2%	COM	302635206

Exited Positions (8)

BTI BRITISH AMERN TOB PLC 2.3%

Value ($000) $2,878 Shares 54,218 Est. Cost $35.94 Unrealized —

EWZ ISHARES INC 0.5%

Value ($000) $600 Shares 19,350 Est. Cost $23.64 Unrealized —

RICK RCI HOSPITALITY HLDGS INC 0.4%

Value ($000) $555 Shares 18,200 Est. Cost $35.82 Unrealized -28.5%

EBAY EBAY INC. 0.3%

Value ($000) $425 Shares 4,669 Est. Cost $70.22 Unrealized +23.0%

VTMX VESTA REAL ESTATE CORP 0.3%

Value ($000) $382 Shares 13,490 Est. Cost $22.81 Unrealized —

PYPL PAYPAL HLDGS INC 0.3%

Value ($000) $356 Shares 5,311 Est. Cost $68.32 Unrealized -5.1%

EPR EPR PPTYS 0.2%

Value ($000) $222 Shares 3,825 Est. Cost $45.52 Unrealized —

JPST J P MORGAN EXCHANGE TRADED F 0.2%

Value ($000) $214 Shares 4,224 Est. Cost $50.68 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BTI	BRITISH AMERN TOB PLC	54,218	$2,878	2.3%	$35.94	—	—	110448107
EWZ	ISHARES INC	19,350	$600	0.5%	$23.64	—	—	464286400
RICK	RCI HOSPITALITY HLDGS INC	18,200	$555	0.4%	$35.82	-28.5%	—	74934Q108
EBAY	EBAY INC.	4,669	$425	0.3%	$70.22	+23.0%	—	278642103
VTMX	VESTA REAL ESTATE CORP	13,490	$382	0.3%	$22.81	—	—	92540K109
PYPL	PAYPAL HLDGS INC	5,311	$356	0.3%	$68.32	-5.1%	—	70450Y103
EPR	EPR PPTYS	3,825	$222	0.2%	$45.52	—	—	26884U109
JPST	J P MORGAN EXCHANGE TRADED F	4,224	$214	0.2%	$50.68	—	—	46641Q837

Decreased Positions (33)

SGOV ISHARES TR 7.0%

Value ($000) $8,734 (-34.7%) Shares 87,014 (-34.5%) Est. Cost $100.40 Unrealized —

WPC WP CAREY INC 2.5%

Value ($000) $3,103 (-25.9%) Shares 48,214 (-22.2%) Est. Cost $56.50 Unrealized —

JAAA JANUS DETROIT STR TR 20.8%

Value ($000) $26,093 (-3.4%) Shares 515,885 (-3.1%) Est. Cost $50.79 Unrealized —

GOOG ALPHABET INC 2.0%

Value ($000) $2,488 (+26.2%) Shares 7,930 (-2.0%) Est. Cost $174.91 Unrealized +63.7%

CCI CROWN CASTLE INC 2.4%

Value ($000) $2,994 (-13.6%) Shares 33,690 (-6.2%) Est. Cost $97.22 Unrealized -6.3%

ALLY ALLY FINL INC 2.2%

Value ($000) $2,796 (+13.4%) Shares 61,738 (-1.9%) Est. Cost $34.81 Unrealized +17.2%

MSFT MICROSOFT CORP 0.5%

Value ($000) $580 (-34.2%) Shares 1,199 (-29.6%) Est. Cost $422.77 Unrealized +18.4%

BKLN INVESCO EXCH TRADED FD TR II 2.0%

Value ($000) $2,524 (-8.4%) Shares 120,173 (-8.7%) Est. Cost $21.03 Unrealized —

— BLACKROCK FLOATING RATE INCO 1.6%

Value ($000) $1,970 (-10.5%) Shares 167,237 (-1.4%) Est. Cost $13.29 Unrealized —

LQD ISHARES TR 2.3%

Value ($000) $2,928 (-6.6%) Shares 26,576 (-5.5%) Est. Cost $107.13 Unrealized —

OCSL OAKTREE SPECIALTY LENDING CO 1.0%

Value ($000) $1,222 (-13.2%) Shares 95,942 (-11.1%) Est. Cost $15.81 Unrealized -15.5%

AMLP ALPS ETF TR 2.6%

Value ($000) $3,299 (-1.8%) Shares 70,165 (-2.0%) Est. Cost $47.47 Unrealized —

LMT LOCKHEED MARTIN CORP 0.2%

Value ($000) $211 (-18.9%) Shares 437 (-16.3%) Est. Cost $448.15 Unrealized +6.3%

BP BP PLC 0.8%

Value ($000) $985 (-4.6%) Shares 28,366 (-5.4%) Est. Cost $31.31 Unrealized —

KW KENNEDY-WILSON HOLDINGS INC 0.4%

Value ($000) $490 (+9.8%) Shares 50,634 (-5.6%) Est. Cost $10.53 Unrealized -14.9%

VTRS VIATRIS INC 0.2%

Value ($000) $212 (+24.2%) Shares 17,056 (-1.2%) Est. Cost $11.63 Unrealized -7.9%

PAX PATRIA INVESTMENTS LIMITED 0.9%

Value ($000) $1,181 (-3.4%) Shares 74,350 (-11.2%) Est. Cost $11.15 Unrealized +32.1%

PFE PFIZER INC 0.6%

Value ($000) $735 (-5.2%) Shares 29,505 (-3.0%) Est. Cost $24.97 Unrealized +0.3%

C CITIGROUP INC 0.4%

Value ($000) $440 (+9.1%) Shares 3,771 (-5.1%) Est. Cost $65.38 Unrealized +58.5%

RIO RIO TINTO PLC 0.2%

Value ($000) $251 (+15.7%) Shares 3,134 (-4.6%) Est. Cost $66.02 Unrealized —

CION CION INVT CORP 0.2%

Value ($000) $263 (-11.1%) Shares 27,225 (-12.8%) Est. Cost $9.55 Unrealized -3.5%

ECC EAGLE POINT CREDIT COMPANY I 0.1%

Value ($000) $72 (-26.9%) Shares 12,500 (-16.1%) Est. Cost $8.86 Unrealized —

DG DOLLAR GEN CORP NEW 0.2%

Value ($000) $306 (+9.4%) Shares 2,301 (-14.8%) Est. Cost $77.43 Unrealized +44.0%

AAPL APPLE INC 0.2%

Value ($000) $211 (-11.0%) Shares 775 (-16.7%) Est. Cost $225.58 Unrealized +19.0%

CLF CLEVELAND-CLIFFS INC NEW 0.3%

Value ($000) $343 (+7.6%) Shares 25,825 (-1.1%) Est. Cost $10.16 Unrealized +24.3%

GOOGL ALPHABET INC 0.2%

Value ($000) $227 (-9.6%) Shares 726 (-29.8%) Est. Cost $209.20 Unrealized +36.5%

BXMT BLACKSTONE MTG TR INC 0.2%

Value ($000) $214 (-6.9%) Shares 11,200 (-10.4%) Est. Cost $18.15 Unrealized —

ADM ARCHER DANIELS MIDLAND CO 0.2%

Value ($000) $207 (-6.3%) Shares 3,600 (-2.7%) Est. Cost $47.57 Unrealized +25.0%

XOM EXXON MOBIL CORP 0.2%

Value ($000) $301 (-3.4%) Shares 2,501 (-9.5%) Est. Cost $112.36 Unrealized +2.8%

APA APA CORPORATION 0.2%

Value ($000) $245 (-2.2%) Shares 10,008 (-2.9%) Est. Cost $22.10 Unrealized +9.2%

AMZN AMAZON COM INC 0.7%

Value ($000) $864 (+0.4%) Shares 3,745 (-4.5%) Est. Cost $204.76 Unrealized +11.7%

CVS CVS HEALTH CORP 0.2%

Value ($000) $221 (-1.4%) Shares 2,784 (-6.4%) Est. Cost $54.15 Unrealized +45.3%

BHP BHP GROUP LTD 0.2%

Value ($000) $294 (+0.1%) Shares 4,867 (-7.6%) Est. Cost $49.14 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SGOV	ISHARES TR	87,014 (-34.5%)	$8,734 (-34.7%)	7.0%	$100.40	—	0-3 MNTH TREASRY	46436E718
WPC	WP CAREY INC	48,214 (-22.2%)	$3,103 (-25.9%)	2.5%	$56.50	—	COM	92936U109
JAAA	JANUS DETROIT STR TR	515,885 (-3.1%)	$26,093 (-3.4%)	20.8%	$50.79	—	HENDRSON AAA CL	47103U845
GOOG	ALPHABET INC	7,930 (-2.0%)	$2,488 (+26.2%)	2.0%	$174.91	+63.7%	CAP STK CL C	02079K107
CCI	CROWN CASTLE INC	33,690 (-6.2%)	$2,994 (-13.6%)	2.4%	$97.22	-6.3%	COM	22822V101
ALLY	ALLY FINL INC	61,738 (-1.9%)	$2,796 (+13.4%)	2.2%	$34.81	+17.2%	COM	02005N100
MSFT	MICROSOFT CORP	1,199 (-29.6%)	$580 (-34.2%)	0.5%	$422.77	+18.4%	COM	594918104
BKLN	INVESCO EXCH TRADED FD TR II	120,173 (-8.7%)	$2,524 (-8.4%)	2.0%	$21.03	—	SR LN ETF	46138G508
—	BLACKROCK FLOATING RATE INCO	167,237 (-1.4%)	$1,970 (-10.5%)	1.6%	$13.29	—	COM	09255X100
LQD	ISHARES TR	26,576 (-5.5%)	$2,928 (-6.6%)	2.3%	$107.13	—	IBOXX INV CP ETF	464287242
OCSL	OAKTREE SPECIALTY LENDING CO	95,942 (-11.1%)	$1,222 (-13.2%)	1.0%	$15.81	-15.5%	COM	67401P405
AMLP	ALPS ETF TR	70,165 (-2.0%)	$3,299 (-1.8%)	2.6%	$47.47	—	ALERIAN MLP	00162Q452
LMT	LOCKHEED MARTIN CORP	437 (-16.3%)	$211 (-18.9%)	0.2%	$448.15	+6.3%	COM	539830109
BP	BP PLC	28,366 (-5.4%)	$985 (-4.6%)	0.8%	$31.31	—	SPONSORED ADR	055622104
KW	KENNEDY-WILSON HOLDINGS INC	50,634 (-5.6%)	$490 (+9.8%)	0.4%	$10.53	-14.9%	COM	489398107
VTRS	VIATRIS INC	17,056 (-1.2%)	$212 (+24.2%)	0.2%	$11.63	-7.9%	COM	92556V106
PAX	PATRIA INVESTMENTS LIMITED	74,350 (-11.2%)	$1,181 (-3.4%)	0.9%	$11.15	+32.1%	COM CL A	G69451105
PFE	PFIZER INC	29,505 (-3.0%)	$735 (-5.2%)	0.6%	$24.97	+0.3%	COM	717081103
C	CITIGROUP INC	3,771 (-5.1%)	$440 (+9.1%)	0.4%	$65.38	+58.5%	COM NEW	172967424
RIO	RIO TINTO PLC	3,134 (-4.6%)	$251 (+15.7%)	0.2%	$66.02	—	SPONSORED ADR	767204100
CION	CION INVT CORP	27,225 (-12.8%)	$263 (-11.1%)	0.2%	$9.55	-3.5%	COM	17259U204
ECC	EAGLE POINT CREDIT COMPANY I	12,500 (-16.1%)	$72 (-26.9%)	0.1%	$8.86	—	COM	269808101
DG	DOLLAR GEN CORP NEW	2,301 (-14.8%)	$306 (+9.4%)	0.2%	$77.43	+44.0%	COM	256677105
AAPL	APPLE INC	775 (-16.7%)	$211 (-11.0%)	0.2%	$225.58	+19.0%	COM	037833100
CLF	CLEVELAND-CLIFFS INC NEW	25,825 (-1.1%)	$343 (+7.6%)	0.3%	$10.16	+24.3%	COM	185899101
GOOGL	ALPHABET INC	726 (-29.8%)	$227 (-9.6%)	0.2%	$209.20	+36.5%	CAP STK CL A	02079K305
BXMT	BLACKSTONE MTG TR INC	11,200 (-10.4%)	$214 (-6.9%)	0.2%	$18.15	—	COM CL A	09257W100
ADM	ARCHER DANIELS MIDLAND CO	3,600 (-2.7%)	$207 (-6.3%)	0.2%	$47.57	+25.0%	COM	039483102
XOM	EXXON MOBIL CORP	2,501 (-9.5%)	$301 (-3.4%)	0.2%	$112.36	+2.8%	COM	30231G102
APA	APA CORPORATION	10,008 (-2.9%)	$245 (-2.2%)	0.2%	$22.10	+9.2%	COM	03743Q108
AMZN	AMAZON COM INC	3,745 (-4.5%)	$864 (+0.4%)	0.7%	$204.76	+11.7%	COM	023135106
CVS	CVS HEALTH CORP	2,784 (-6.4%)	$221 (-1.4%)	0.2%	$54.15	+45.3%	COM	126650100
BHP	BHP GROUP LTD	4,867 (-7.6%)	$294 (+0.1%)	0.2%	$49.14	—	SPONSORED ADS	088606108

Unchanged Positions (8)

VZ VERIZON COMMUNICATIONS INC 1.4%

Value ($000) $1,801 Shares 44,214 Est. Cost $39.47 Unrealized +2.6%

JBBB JANUS DETROIT STR TR 10.9%

Value ($000) $13,715 Shares 287,529 Est. Cost $48.77 Unrealized —

VOD VODAFONE GROUP PLC NEW 0.2%

Value ($000) $226 Shares 17,122 Est. Cost $8.48 Unrealized —

HURA TUHURA BIOSCIENCES INC 0.0%

Value ($000) $8 Shares 10,000 Est. Cost $5.32 Unrealized -64.0%

HYG ISHARES TR 0.8%

Value ($000) $1,015 Shares 12,593 Est. Cost $79.33 Unrealized —

— RIVERNORTH MANAGED DUR MUN I 0.2%

Value ($000) $248 Shares 17,100 Est. Cost $15.33 Unrealized —

SCYB SCHWAB STRATEGIC TR 0.3%

Value ($000) $412 Shares 15,600 Est. Cost $26.33 Unrealized —

DIS DISNEY WALT CO 0.5%

Value ($000) $581 Shares 5,103 Est. Cost $103.52 Unrealized +5.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VZ	VERIZON COMMUNICATIONS INC	44,214	$1,801	1.4%	$39.47	+2.6%	COM	92343V104
JBBB	JANUS DETROIT STR TR	287,529	$13,715	10.9%	$48.77	—	B-BBB CLO ETF	47103U753
VOD	VODAFONE GROUP PLC NEW	17,122	$226	0.2%	$8.48	—	SPONSORED ADR	92857W308
HURA	TUHURA BIOSCIENCES INC	10,000	$8	0.0%	$5.32	-64.0%	COM	898920103
HYG	ISHARES TR	12,593	$1,015	0.8%	$79.33	—	IBOXX HI YD ETF	464288513
—	RIVERNORTH MANAGED DUR MUN I	17,100	$248	0.2%	$15.33	—	COM	76882M104
SCYB	SCHWAB STRATEGIC TR	15,600	$412	0.3%	$26.33	—	HIGH YIELD BD ET	808524631
DIS	DISNEY WALT CO	5,103	$581	0.5%	$103.52	+5.8%	COM	254687106