Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SCHO	SCHWAB STRATEGIC TR	777,452	$18.77M	13.8%	$24.14	—	SHT TM US TRES	808524862
SPTS	SPDR SERIES TRUST	378,140	$10.97M	8.0%	$29.01	—	ST SHO TREAS ETF	78468R101
NUVL	NUVALENT INC	69,760	$8.615M	6.3%	$123.50	—	COM	670703107
ING	ING GROEP N.V.	230,511	$7.233M	5.3%	$31.38	—	SPONSORED ADR	456837103
SILA	SILA REALTY TRUST INC	232,525	$7.059M	5.2%	$30.36	—	COMMON STOCK	146280508
NWG	NATWEST GROUP PLC	337,507	$5.95M	4.4%	$17.63	—	SPONS ADR	639057207
LPRO	OPEN LENDING CORP	1,872,899	$5.825M	4.3%	$3.11	—	COM	68373J104
ESPR	ESPERION THERAPEUTICS INC NE	1,590,721	$5.027M	3.7%	$3.16	—	COM	29664W105
WSR	WHITESTONE REIT	245,178	$4.649M	3.4%	$18.96	—	COM	966084204
NVO	NOVO-NORDISK A S	96,946	$4.648M	3.4%	$47.94	—	ADR	670100205
TBRG	TRUBRIDGE INC	176,833	$4.635M	3.4%	$26.21	—	COM	205306103
APGE	APOGEE THERAPEUTICS INC	34,493	$4.578M	3.4%	$132.73	—	COM	03770N101
PHG	KONINKLIJKE PHILIPS N V	122,353	$3.327M	2.4%	$27.19	—	NY REGIS SHS NEW	500472303
ALOT	ASTRONOVA INC	65,038	$1.852M	1.4%	$28.47	—	COM	04638F108
VGSH	VANGUARD SCOTTSDALE FDS	30,270	$1.762M	1.3%	$58.20	—	SHORT TERM TREAS	92206C102
WPP	WPP PLC NEW	96,546	$1.495M	1.1%	$15.49	—	ADR	92937A102
WBS	WEBSTER FINL CORP	18,900	$1.444M	1.1%	$76.42	—	COM	947890109
EQH	EQUITABLE HLDGS INC	10,040	$441K	0.3%	$43.88	—	COM	29452E101
AVNS	AVANOS MED INC	17,583	$437K	0.3%	$24.88	—	COM	05350V106
TALK	TALKSPACE INC	82,738	$430K	0.3%	$5.20	—	COM	87427V103
SCHR	SCHWAB STRATEGIC TR	13,229	$326K	0.2%	$24.66	—	INT-TRM U.S TRES	808524854
CCRN	CROSS CTRY HEALTHCARE INC	23,890	$316K	0.2%	$13.21	—	COM	227483104
FMS	FRESENIUS MEDICAL CARE AG	12,979	$293K	0.2%	$22.61	—	SPONSORED ADR	358029106
EEX	EMERALD HOLDING INC	27,012	$136K	0.1%	$5.04	—	COM	29103W104

Increased Positions (4)

LBRDA LIBERTY BROADBAND CORP 4.6%

Value $6.211M (+478.3%) Shares 186,635 (+772.7%) Est. Cost $35.15 Unrealized —

RIO RIO TINTO PLC 4.2%

Value $5.769M (+189.9%) Shares 60,773 (+184.9%) Est. Cost $89.70 Unrealized —

FERG FERGUSON ENTERPRISES INC 0.4%

Value $503K (+70.7%) Shares 2,116 (+65.3%) Est. Cost $238.13 Unrealized —

BP BP PLC 4.2%

Value $5.695M (+0.1%) Shares 154,115 (+27.4%) Est. Cost $35.21 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LBRDA	LIBERTY BROADBAND CORP	186,635 (+772.7%)	$6.211M (+478.3%)	4.6%	$35.15	—	COM SER A	530307107
RIO	RIO TINTO PLC	60,773 (+184.9%)	$5.769M (+189.9%)	4.2%	$89.70	—	SPONSORED ADR	767204100
FERG	FERGUSON ENTERPRISES INC	2,116 (+65.3%)	$503K (+70.7%)	0.4%	$238.13	—	COMMON STOCK NEW	31488V107
BP	BP PLC	154,115 (+27.4%)	$5.695M (+0.1%)	4.2%	$35.21	—	SPONSORED ADR	055622104

Exited Positions (30)

SHY ISHARES TR 56.0%

Value $76.36M Shares 924,845 Est. Cost $82.70 Unrealized —

IEF ISHARES TR 13.5%

Value $18.36M Shares 192,393 Est. Cost $95.45 Unrealized —

TLT ISHARES TR 9.3%

Value $12.72M Shares 146,723 Est. Cost $86.69 Unrealized —

IEI ISHARES TR 4.4%

Value $6.057M Shares 51,067 Est. Cost $118.71 Unrealized —

NVS NOVARTIS AG 3.9%

Value $5.358M Shares 35,075 Est. Cost $151.80 Unrealized —

PUK PRUDENTIAL PLC 3.5%

Value $4.79M Shares 168,481 Est. Cost $28.43 Unrealized —

HYG ISHARES TR 2.8%

Value $3.811M Shares 47,899 Est. Cost $80.63 Unrealized —

SEE SEALED AIR CORP NEW 2.7%

Value $3.696M Shares 87,890 Est. Cost $41.79 Unrealized —

FOLD AMICUS THERAPEUTIC 2.3%

Value $3.164M Shares 218,778 Est. Cost $13.50 Unrealized —

JNK SPDR SERIES TRUST 2.3%

Value $3.079M Shares 32,169 Est. Cost $97.21 Unrealized —

LQD ISHARES TR 2.2%

Value $3.017M Shares 27,677 Est. Cost $108.99 Unrealized —

AL AIR LEASE CORP 1.7%

Value $2.32M Shares 35,727 Est. Cost $64.51 Unrealized —

FFWM FIRST FNDTN INC 1.0%

Value $1.408M Shares 238,711 Est. Cost $6.23 Unrealized —

STIP ISHARES TR 1.0%

Value $1.395M Shares 13,485 Est. Cost $103.43 Unrealized —

OS ONESTREAM INC 0.8%

Value $1.025M Shares 42,726 Est. Cost $23.28 Unrealized —

APLS APELLIS PHARMACEUTICALS INC 0.7%

Value $949K Shares 23,585 Est. Cost $22.69 Unrealized —

UDMY UDEMY INC 0.6%

Value $778K Shares 168,353 Est. Cost $5.19 Unrealized —

ACLX ARCELLX INC 0.6%

Value $753K Shares 6,557 Est. Cost $71.30 Unrealized —

CTRA COTERRA ENERGY INC 0.5%

Value $651K Shares 18,527 Est. Cost $28.33 Unrealized —

HTBK HERITAGE COMM CORP 0.4%

Value $588K Shares 47,152 Est. Cost $12.94 Unrealized —

CWEN/A CLEARWAY ENERGY INC 0.4%

Value $569K Shares 14,536 Est. Cost $34.38 Unrealized —

TIP ISHARES TR 0.4%

Value $499K Shares 4,524 Est. Cost $110.36 Unrealized —

IMXI INTERNATIONAL MONEY EXPRESS 0.3%

Value $467K Shares 29,566 Est. Cost $15.52 Unrealized —

HOLX HOLOGIC INC 0.3%

Value $376K Shares 4,969 Est. Cost $73.07 Unrealized —

EA ELECTRONIC ARTS INC 0.3%

Value $343K Shares 1,684 Est. Cost $202.53 Unrealized —

KVUE KENVUE INC 0.2%

Value $322K Shares 18,691 Est. Cost $17.67 Unrealized —

DEC DIVERSIFIED ENERGY CO 0.2%

Value $305K Shares 17,492 Est. Cost $13.25 Unrealized —

UBFO UNITED SEC BANCSHARES CALIF 0.2%

Value $246K Shares 23,422 Est. Cost $10.63 Unrealized —

ERIC TELEFONAKTIEBOLAGET LM ERICS 0.2%

Value $230K Shares 20,414 Est. Cost $9.65 Unrealized —

CCO CLEAR CHANNEL OUTDOOR HLDGS 0.0%

Value $36,211 Shares 15,279 Est. Cost $2.20 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SHY	ISHARES TR	924,845	$76.36M	56.0%	$82.70	—	—	464287457
IEF	ISHARES TR	192,393	$18.36M	13.5%	$95.45	—	—	464287440
TLT	ISHARES TR	146,723	$12.72M	9.3%	$86.69	—	—	464287432
IEI	ISHARES TR	51,067	$6.057M	4.4%	$118.71	—	—	464288661
NVS	NOVARTIS AG	35,075	$5.358M	3.9%	$151.80	—	—	66987V109
PUK	PRUDENTIAL PLC	168,481	$4.79M	3.5%	$28.43	—	—	74435K204
HYG	ISHARES TR	47,899	$3.811M	2.8%	$80.63	—	—	464288513
SEE	SEALED AIR CORP NEW	87,890	$3.696M	2.7%	$41.79	—	—	81211K100
FOLD	AMICUS THERAPEUTIC	218,778	$3.164M	2.3%	$13.50	—	—	03152W109
JNK	SPDR SERIES TRUST	32,169	$3.079M	2.3%	$97.21	—	—	78468R622
LQD	ISHARES TR	27,677	$3.017M	2.2%	$108.99	—	—	464287242
AL	AIR LEASE CORP	35,727	$2.32M	1.7%	$64.51	—	—	00912X302
FFWM	FIRST FNDTN INC	238,711	$1.408M	1.0%	$6.23	—	—	32026V104
STIP	ISHARES TR	13,485	$1.395M	1.0%	$103.43	—	—	46429B747
OS	ONESTREAM INC	42,726	$1.025M	0.8%	$23.28	—	—	68278B107
APLS	APELLIS PHARMACEUTICALS INC	23,585	$949K	0.7%	$22.69	—	—	03753U106
UDMY	UDEMY INC	168,353	$778K	0.6%	$5.19	—	—	902685106
ACLX	ARCELLX INC	6,557	$753K	0.6%	$71.30	—	—	03940C100
CTRA	COTERRA ENERGY INC	18,527	$651K	0.5%	$28.33	—	—	127097103
HTBK	HERITAGE COMM CORP	47,152	$588K	0.4%	$12.94	—	—	426927109
CWEN/A	CLEARWAY ENERGY INC	14,536	$569K	0.4%	$34.38	—	—	18539C105
TIP	ISHARES TR	4,524	$499K	0.4%	$110.36	—	—	464287176
IMXI	INTERNATIONAL MONEY EXPRESS	29,566	$467K	0.3%	$15.52	—	—	46005L101
HOLX	HOLOGIC INC	4,969	$376K	0.3%	$73.07	—	—	436440101
EA	ELECTRONIC ARTS INC	1,684	$343K	0.3%	$202.53	—	—	285512109
KVUE	KENVUE INC	18,691	$322K	0.2%	$17.67	—	—	49177J102
DEC	DIVERSIFIED ENERGY CO	17,492	$305K	0.2%	$13.25	—	—	25520W107
UBFO	UNITED SEC BANCSHARES CALIF	23,422	$246K	0.2%	$10.63	—	—	911460103
ERIC	TELEFONAKTIEBOLAGET LM ERICS	20,414	$230K	0.2%	$9.65	—	—	294821608
CCO	CLEAR CHANNEL OUTDOOR HLDGS	15,279	$36,211	0.0%	$2.20	—	—	18453H106

Decreased Positions (4)

AEG AEGON LTD 1.7%

Value $2.278M (-52.9%) Shares 269,933 (-59.4%) Est. Cost $7.48 Unrealized —

GSK GSK PLC 7.2%

Value $9.88M (-19.5%) Shares 188,473 (-15.3%) Est. Cost $54.42 Unrealized —

VOD VODAFONE GROUP PLC 1.3%

Value $1.714M (-51.6%) Shares 129,593 (-45.0%) Est. Cost $14.26 Unrealized —

DEO DIAGEO PLC 2.3%

Value $3.128M (-2.4%) Shares 38,911 (-9.6%) Est. Cost $86.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AEG	AEGON LTD	269,933 (-59.4%)	$2.278M (-52.9%)	1.7%	$7.48	—	AMER REG 1 CERT	0076CA104
GSK	GSK PLC	188,473 (-15.3%)	$9.88M (-19.5%)	7.2%	$54.42	—	SPONSORED ADR	37733W204
VOD	VODAFONE GROUP PLC	129,593 (-45.0%)	$1.714M (-51.6%)	1.3%	$14.26	—	SPONSORED ADR	92857W308
DEO	DIAGEO PLC	38,911 (-9.6%)	$3.128M (-2.4%)	2.3%	$86.27	—	SPON ADR NEW	25243Q205

Unchanged Positions (1)

HOOD ROBINHOOD MKTS INC 0.7%

Value $937K Shares 9,347 Est. Cost $130.05 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HOOD	ROBINHOOD MKTS INC	9,347	$937K	0.7%	$130.05	—	COM CL A	770700102