# EDGAR Filing Document

**Accession Number:** 0001785342
**File Stem:** 0001193805-26-000629
**Filing Date:** 2026-5
**Character Count:** 40384
**Document Hash:** f346f776ff59e3fcdffcf5f1d4195056
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193805-26-000629.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001193805-26-000629

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**EFFECTIVENESS DATE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** National Philanthropic Trust
- **CENTRAL INDEX KEY:** 0001785342

**ORGANIZATION NAME:**
- **EIN:** 237825575
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26972
- **FILM NUMBER:** 26986996

**BUSINESS ADDRESS:**
- **STREET 1:** 165 TOWNSHIP LINE ROAD, SUITE 1200
- **CITY:** JENKINTOWN
- **STATE:** PA
- **ZIP:** 19046
- **BUSINESS PHONE:** 215-277-3010

**MAIL ADDRESS:**
- **STREET 1:** 165 TOWNSHIP LINE ROAD, SUITE 1200
- **CITY:** JENKINTOWN
- **STATE:** PA
- **ZIP:** 19046

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** National Philanthropic Trust<br>**Address:** 165 TOWNSHIP LINE ROAD SUITE 1200<br>Jenkintown, PA 19046

**Form 13F File Number:** 028-26972

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Christina Hack<br>**Title:** Chief Financial Officer  Treasurer<br>**Phone:** 215-277-3083

**Signature, Place, and Date of Signing:**

/s/ Christina Hack  Jenkintown, PA  05-15-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 365

**Form 13F Information Table Value Total:** $9382715277

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 2023 ETF SERIES TRUST | EAGLE CAPITAL SE | 88339Y102 |  | 603898 | 19852 | SH |  | SOLE |  | 19852 | 0 | 0 |
| ABACUS GLOBAL MGMT INC | CL A | 00258Y104 |  | 3940000 | 500000 | SH |  | SOLE |  | 500000 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 1400829 | 13644 | SH |  | SOLE |  | 13644 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 1538524 | 7074 | SH |  | SOLE |  | 7074 | 0 | 0 |
| ABRDN ETFS | BBRG ALL COMD K1 | 003261104 |  | 723478 | 29785 | SH |  | SOLE |  | 29785 | 0 | 0 |
| ABRDN PLATINUM ETF TRUST | PHYSCL PLATM SHS | 003260106 |  | 237224 | 1331 | SH |  | SOLE |  | 1331 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 3147259 | 15872 | SH |  | SOLE |  | 15872 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 228495 | 940 | SH |  | SOLE |  | 940 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 5790635 | 28465 | SH |  | SOLE |  | 28465 | 0 | 0 |
| AIR PRODUCTS AND CHEMICALS I | COM | 009158106 |  | 248659 | 856 | SH |  | SOLE |  | 856 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 60568813 | 479639 | SH |  | SOLE |  | 479639 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 648103 | 3610 | SH |  | SOLE |  | 3610 | 0 | 0 |
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 |  | 210840 | 4542 | SH |  | SOLE |  | 4542 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 2281741 | 18187 | SH |  | SOLE |  | 18187 | 0 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 8170697 | 47662 | SH |  | SOLE |  | 47662 | 0 | 0 |
| ALLIANCE RESOURCE PARTNERS L | UT LTD PART | 01877R108 |  | 276500 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 235727779 | 821752 | SH |  | SOLE |  | 821752 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1075710816 | 3740822 | SH |  | SOLE |  | 3740822 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 923332 | 13992 | SH |  | SOLE |  | 13992 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 374819145 | 1799679 | SH |  | SOLE |  | 1799679 | 0 | 0 |
| AMENTUM HOLDINGS INC | COM | 023939101 |  | 705881 | 27066 | SH |  | SOLE |  | 27066 | 0 | 0 |
| AMERICAN TOWER CORP | COM | 03027X100 |  | 206406 | 1196 | SH |  | SOLE |  | 1196 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 482738 | 1372 | SH |  | SOLE |  | 1372 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 1003371974 | 9005313 | SH |  | SOLE |  | 9005313 | 0 | 0 |
| APPIAN CORP | CL A | 03782L101 |  | 7221717 | 299532 | SH |  | SOLE |  | 299532 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 22948961 | 90425 | SH |  | SOLE |  | 90425 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 268989 | 787 | SH |  | SOLE |  | 787 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 4716175 | 43228 | SH |  | SOLE |  | 43228 | 0 | 0 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 3270477 | 48387 | SH |  | SOLE |  | 48387 | 0 | 0 |
| ARLO TECHNOLOGIES INC | COM | 04206A101 |  | 8015659 | 563293 | SH |  | SOLE |  | 563293 | 0 | 0 |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 |  | 1664080 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 |  | 50073986 | 37911 | SH |  | SOLE |  | 37911 | 0 | 0 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 1770683 | 21367 | SH |  | SOLE |  | 21367 | 0 | 0 |
| ASTERA LABS INC | COM | 04626A103 |  | 4679920 | 42700 | SH |  | SOLE |  | 42700 | 0 | 0 |
| ASTRAZENECA PLC | ORD | G0593M107 |  | 461692 | 2341 | SH |  | SOLE |  | 2341 | 0 | 0 |
| ATLANTA BRAVES HLDGS INC | COM SER A | 047726104 |  | 1414500 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 624372 | 3073 | SH |  | SOLE |  | 3073 | 0 | 0 |
| AXOS FINANCIAL INC | COM | 05465C100 |  | 568827 | 6685 | SH |  | SOLE |  | 6685 | 0 | 0 |
| BANCO SANTANDER SA | ADR | 05964H105 |  | 131153 | 11627 | SH |  | SOLE |  | 11627 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 302884 | 6213 | SH |  | SOLE |  | 6213 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 1162485 | 17539 | SH |  | SOLE |  | 17539 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 10053960 | 14 | SH |  | SOLE |  | 14 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 5275992 | 11010 | SH |  | SOLE |  | 11010 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 2668239 | 51057 | SH |  | SOLE |  | 51057 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 227171484 | 1975576 | SH |  | SOLE |  | 1975576 | 0 | 0 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 128794 | 11645 | SH |  | SOLE |  | 11645 | 0 | 0 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 |  | 31881960 | 3492000 | SH |  | SOLE |  | 3492000 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 317203 | 6749 | SH |  | SOLE |  | 6749 | 0 | 0 |
| BRIGHTSPRING HEALTH SVCS INC | COM | 10950A106 |  | 3881089 | 91084 | SH |  | SOLE |  | 91084 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 483332498 | 1561605 | SH |  | SOLE |  | 1561605 | 0 | 0 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 8843788 | 218527 | SH |  | SOLE |  | 218527 | 0 | 0 |
| BURFORD CAPITAL LIMITED | ORD SHS | G17977110 |  | 58692 | 12985 | SH |  | SOLE |  | 12985 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 13297200 | 168000 | SH |  | SOLE |  | 168000 | 0 | 0 |
| CALAVO GROWERS INC | COM | 128246105 |  | 8381750 | 325000 | SH |  | SOLE |  | 325000 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 6478516 | 82361 | SH |  | SOLE |  | 82361 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 4691735 | 25718 | SH |  | SOLE |  | 25718 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 206574068 | 657084 | SH |  | SOLE |  | 657084 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 336519 | 475 | SH |  | SOLE |  | 475 | 0 | 0 |
| CELESTICA INC | COM | 15101Q207 |  | 920249 | 3267 | SH |  | SOLE |  | 3267 | 0 | 0 |
| CENTRAIS ELET BRAS SA | SPONSORED ADR | 15234Q207 |  | 121632 | 10783 | SH |  | SOLE |  | 10783 | 0 | 0 |
| CHARTER COMMUNICATIONS INC | CL A | 16119P108 |  | 2689649 | 12459 | SH |  | SOLE |  | 12459 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 1747394 | 6158 | SH |  | SOLE |  | 6158 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 7921373 | 38286 | SH |  | SOLE |  | 38286 | 0 | 0 |
| CHUBB LTD SWITZ | COM | H1467J104 |  | 587000 | 1801 | SH |  | SOLE |  | 1801 | 0 | 0 |
| CIPHER DIGITAL INC | COM | 17253J106 |  | 490939 | 38146 | SH |  | SOLE |  | 38146 | 0 | 0 |
| CIRCLE INTERNET GROUP INC | COM CL A | 172573107 |  | 2939296 | 30807 | SH |  | SOLE |  | 30807 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 1220025 | 15724 | SH |  | SOLE |  | 15724 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 1592487 | 20940 | SH |  | SOLE |  | 20940 | 0 | 0 |
| COEUR MNG INC | COM NEW | 192108504 |  | 563100 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 975197 | 5585 | SH |  | SOLE |  | 5585 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 274152 | 9549 | SH |  | SOLE |  | 9549 | 0 | 0 |
| COMPANHIA PARANAENSE DE ENER | SPONSORED ADS | 20441B704 |  | 157429 | 13185 | SH |  | SOLE |  | 13185 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 912780 | 6915 | SH |  | SOLE |  | 6915 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 5987711 | 44037 | SH |  | SOLE |  | 44037 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 4848628 | 4866 | SH |  | SOLE |  | 4866 | 0 | 0 |
| COUPANG INC | CL A | 22266T109 |  | 16806825 | 890192 | SH |  | SOLE |  | 890192 | 0 | 0 |
| CREDIT ACCEP CORP MICH | COM | 225310101 |  | 1894560 | 4474 | SH |  | SOLE |  | 4474 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 375574 | 962 | SH |  | SOLE |  | 962 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 828102 | 20173 | SH |  | SOLE |  | 20173 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 349006 | 2546 | SH |  | SOLE |  | 2546 | 0 | 0 |
| CUSTOMERS BANCORP INC | COM | 23204G100 |  | 7163112 | 103200 | SH |  | SOLE |  | 103200 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 3829660 | 32441 | SH |  | SOLE |  | 32441 | 0 | 0 |
| DAVITA INC | COM | 23918K108 |  | 9671865 | 62931 | SH |  | SOLE |  | 62931 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 378428 | 11594 | SH |  | SOLE |  | 11594 | 0 | 0 |
| DBX ETF TR | XTRACK MSCI EAFE | 233051200 |  | 3333216 | 67474 | SH |  | SOLE |  | 67474 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 2756892 | 16797 | SH |  | SOLE |  | 16797 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 314970 | 3268 | SH |  | SOLE |  | 3268 | 0 | 0 |
| DIVERSIFIED ENERGY CO | COMMON STOCK | 25520W107 |  | 473130 | 27129 | SH |  | SOLE |  | 27129 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 9996086 | 66574 | SH |  | SOLE |  | 66574 | 0 | 0 |
| DOUGLAS EMMETT INC | COM | 25960P109 |  | 471000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 3594395 | 158204 | SH |  | SOLE |  | 158204 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 512183 | 1432 | SH |  | SOLE |  | 1432 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 5461544 | 18656 | SH |  | SOLE |  | 18656 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 1231572 | 1339 | SH |  | SOLE |  | 1339 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 237932 | 1816 | SH |  | SOLE |  | 1816 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 919336 | 47634 | SH |  | SOLE |  | 47634 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 4083480 | 108000 | SH |  | SOLE |  | 108000 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 1223364 | 246646 | SH |  | SOLE |  | 246646 | 0 | 0 |
| ETF SER SOLUTIONS | DISTILLATE INTNL | 26922B501 |  | 356455 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| ETF SER SOLUTIONS | DISTILLATE SMLMD | 26922B667 |  | 636191 | 17000 | SH |  | SOLE |  | 17000 | 0 | 0 |
| ETON PHARMACEUTICALS INC | COM | 29772L108 |  | 12145324 | 492112 | SH |  | SOLE |  | 492112 | 0 | 0 |
| EVOLUS INC | COM | 30052C107 |  | 822000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| EXP WORLD HLDGS INC | COM | 30212W100 |  | 1467550 | 245000 | SH |  | SOLE |  | 245000 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 4772196 | 28128 | SH |  | SOLE |  | 28128 | 0 | 0 |
| FATE THERAPEUTICS INC | COM | 31189P102 |  | 150000 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 |  | 1007402 | 9485 | SH |  | SOLE |  | 9485 | 0 | 0 |
| FIRST ADVANTAGE CORP NEW | COM | 31846B108 |  | 429052 | 36484 | SH |  | SOLE |  | 36484 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 |  | 923515 | 52029 | SH |  | SOLE |  | 52029 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | NAT GAS ETF | 33733E807 |  | 278618 | 8792 | SH |  | SOLE |  | 8792 | 0 | 0 |
| FREIGHTOS LTD | ORD SHS | G51405101 |  | 524800 | 320000 | SH |  | SOLE |  | 320000 | 0 | 0 |
| FULL HSE RESORTS INC | COM | 359678109 |  | 103721 | 46098 | SH |  | SOLE |  | 46098 | 0 | 0 |
| GCI LIBERTY INC | COM SER C | 36164V800 |  | 781112 | 20992 | SH |  | SOLE |  | 20992 | 0 | 0 |
| GEN DIGITAL INC | RIGHT 99/99/9999 | 668771116 |  | 8388 | 17377 | SH |  | SOLE |  | 17377 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 291394 | 849 | SH |  | SOLE |  | 849 | 0 | 0 |
| GFL ENVIRONMENTAL INC | SUB VTG SHS | 36168Q104 |  | 2086000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| GLOBAL X FDS | DEFENSE TECH ETF | 37960A529 |  | 295757 | 4175 | SH |  | SOLE |  | 4175 | 0 | 0 |
| GLOBAL X FDS | GB MSCI AR ETF | 37950E259 |  | 424793 | 4552 | SH |  | SOLE |  | 4552 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X SILVER | 37954Y848 |  | 738206 | 8195 | SH |  | SOLE |  | 8195 | 0 | 0 |
| GLOBAL X FDS | ARTIFICIAL ETF | 37954Y632 |  | 5849898 | 125346 | SH |  | SOLE |  | 125346 | 0 | 0 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 |  | 9515521 | 187277 | SH |  | SOLE |  | 187277 | 0 | 0 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 397438 | 7345 | SH |  | SOLE |  | 7345 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 6651173 | 7862 | SH |  | SOLE |  | 7862 | 0 | 0 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 178696 | 14115 | SH |  | SOLE |  | 14115 | 0 | 0 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 653644 | 12389 | SH |  | SOLE |  | 12389 | 0 | 0 |
| GREEN BRICK PARTNERS INC | COM | 392709101 |  | 14923784 | 231556 | SH |  | SOLE |  | 231556 | 0 | 0 |
| GRUPO AVAL ACCIONES Y VALORE | SPONSORED ADS | 40053W101 |  | 79138 | 17986 | SH |  | SOLE |  | 17986 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 231577 | 4196 | SH |  | SOLE |  | 4196 | 0 | 0 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 |  | 228528 | 1528 | SH |  | SOLE |  | 1528 | 0 | 0 |
| HAGERTY INC | CL A COM | 405166109 |  | 1579500 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| HARTFORD FDS EXCHANGE TRADED | TOTAL RTRN ETF | 41653L305 |  | 26994935 | 800087 | SH |  | SOLE |  | 800087 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 3051452 | 6448 | SH |  | SOLE |  | 6448 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 1180206 | 56850 | SH |  | SOLE |  | 56850 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 306854 | 933 | SH |  | SOLE |  | 933 | 0 | 0 |
| HORIZON QUANTUM HOLDINGS LTD | CL A ORD SHS | Y4000A102 |  | 2035061 | 231520 | SH |  | SOLE |  | 231520 | 0 | 0 |
| I-80 GOLD CORP | COM | 44955L106 |  | 225831 | 148573 | SH |  | SOLE |  | 148573 | 0 | 0 |
| ICON PLC | SHS | G4705A100 |  | 2398777 | 21677 | SH |  | SOLE |  | 21677 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 272263 | 1046 | SH |  | SOLE |  | 1046 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 |  | 6367689 | 67655 | SH |  | SOLE |  | 67655 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 211162 | 4785 | SH |  | SOLE |  | 4785 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 5839335 | 37127 | SH |  | SOLE |  | 37127 | 0 | 0 |
| INTERNATIONAL SEAWAYS INC | COM | Y41053102 |  | 294945 | 4047 | SH |  | SOLE |  | 4047 | 0 | 0 |
| INTUITIVE MACHINES INC | CLASS A COM | 46125A100 |  | 5568000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| INVESCO DB COMMDY INDX TRCK | UNIT | 46138B103 |  | 837002 | 28912 | SH |  | SOLE |  | 28912 | 0 | 0 |
| INVESCO DB MULTI-SECTOR COMM | AGRICULTURE FD | 46140H106 |  | 578610 | 21179 | SH |  | SOLE |  | 21179 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 4074945 | 17149 | SH |  | SOLE |  | 17149 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 2919875 | 143061 | SH |  | SOLE |  | 143061 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S MDCP MOMNTUM | 46137V464 |  | 207814 | 1433 | SH |  | SOLE |  | 1433 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | INVESCO MSCI | 46137V407 |  | 411197 | 8673 | SH |  | SOLE |  | 8673 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 11712494 | 61028 | SH |  | SOLE |  | 61028 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 13381341 | 23184 | SH |  | SOLE |  | 23184 | 0 | 0 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 |  | 2710897 | 79081 | SH |  | SOLE |  | 79081 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1474329 | 38374 | SH |  | SOLE |  | 38374 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 66999749 | 759979 | SH |  | SOLE |  | 759979 | 0 | 0 |
| ISHARES INC | MSCI EMERG MRKT | 464286533 |  | 532922 | 8233 | SH |  | SOLE |  | 8233 | 0 | 0 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 971766 | 12354 | SH |  | SOLE |  | 12354 | 0 | 0 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 |  | 1532586 | 18150 | SH |  | SOLE |  | 18150 | 0 | 0 |
| ISHARES INC | MSCI WORLD ETF | 464286392 |  | 65934665 | 366263 | SH |  | SOLE |  | 366263 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 76103039 | 1091083 | SH |  | SOLE |  | 1091083 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 917894 | 2925 | SH |  | SOLE |  | 2925 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 687831 | 3586 | SH |  | SOLE |  | 3586 | 0 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 784713 | 4139 | SH |  | SOLE |  | 4139 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1821154 | 4271 | SH |  | SOLE |  | 4271 | 0 | 0 |
| ISHARES TR | MSCI INDIA SM CP | 46429B614 |  | 256089 | 4271 | SH |  | SOLE |  | 4271 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 255441 | 4498 | SH |  | SOLE |  | 4498 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 1821105 | 5541 | SH |  | SOLE |  | 5541 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 275841 | 5889 | SH |  | SOLE |  | 5889 | 0 | 0 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 433484 | 6331 | SH |  | SOLE |  | 6331 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 1649319 | 7719 | SH |  | SOLE |  | 7719 | 0 | 0 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 1066471 | 8324 | SH |  | SOLE |  | 8324 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 1241996 | 8522 | SH |  | SOLE |  | 8522 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 1015422 | 9201 | SH |  | SOLE |  | 9201 | 0 | 0 |
| ISHARES TR | MSCI SAUDI ARBIA | 46434V423 |  | 425285 | 10699 | SH |  | SOLE |  | 10699 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 608645 | 11580 | SH |  | SOLE |  | 11580 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 1039153 | 11987 | SH |  | SOLE |  | 11987 | 0 | 0 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 |  | 554760 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 424480 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 1017610 | 14500 | SH |  | SOLE |  | 14500 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 3489254 | 16525 | SH |  | SOLE |  | 16525 | 0 | 0 |
| ISHARES TR | GL CLEAN ENE ETF | 464288224 |  | 406959 | 22250 | SH |  | SOLE |  | 22250 | 0 | 0 |
| ISHARES TR | IBONDS 27 TRM TS | 46436E841 |  | 499314 | 22261 | SH |  | SOLE |  | 22261 | 0 | 0 |
| ISHARES TR | CRE U S REIT ETF | 464288521 |  | 1366875 | 23093 | SH |  | SOLE |  | 23093 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2031 | 46436E460 |  | 501935 | 24606 | SH |  | SOLE |  | 24606 | 0 | 0 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 2585579 | 26852 | SH |  | SOLE |  | 26852 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 4196624 | 30329 | SH |  | SOLE |  | 30329 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 3500076 | 30944 | SH |  | SOLE |  | 30944 | 0 | 0 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 4406647 | 31160 | SH |  | SOLE |  | 31160 | 0 | 0 |
| ISHARES TR | LOW CARBON OPTIM | 46434V464 |  | 6956521 | 31222 | SH |  | SOLE |  | 31222 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 4439732 | 35715 | SH |  | SOLE |  | 35715 | 0 | 0 |
| ISHARES TR | US HLTHCARE ETF | 464287762 |  | 3277091 | 53165 | SH |  | SOLE |  | 53165 | 0 | 0 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 7921387 | 55616 | SH |  | SOLE |  | 55616 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 3069127 | 85491 | SH |  | SOLE |  | 85491 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 8074768 | 97793 | SH |  | SOLE |  | 97793 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 9211970 | 136413 | SH |  | SOLE |  | 136413 | 0 | 0 |
| ISHARES TR | ESG MSCI KLD 400 | 464288570 |  | 19877947 | 164023 | SH |  | SOLE |  | 164023 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 21882709 | 225293 | SH |  | SOLE |  | 225293 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 80986632 | 326559 | SH |  | SOLE |  | 326559 | 0 | 0 |
| ISHARES TR | SELECT US REIT | 464287564 |  | 27885715 | 450569 | SH |  | SOLE |  | 450569 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 63101105 | 793126 | SH |  | SOLE |  | 793126 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1002273013 | 1534381 | SH |  | SOLE |  | 1534381 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 159840945 | 1765613 | SH |  | SOLE |  | 1765613 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 179412359 | 1807317 | SH |  | SOLE |  | 1807317 | 0 | 0 |
| ISHARES U S ETF TR | BLOOMBERG ROLL | 46431W598 |  | 719695 | 12112 | SH |  | SOLE |  | 12112 | 0 | 0 |
| ITT INC | COM | 45073V108 |  | 1090784 | 5725 | SH |  | SOLE |  | 5725 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | BETABULDRS JAPAN | 46641Q217 |  | 527437 | 7654 | SH |  | SOLE |  | 7654 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | INCOME ETF | 46641Q159 |  | 496865 | 10785 | SH |  | SOLE |  | 10785 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 1129832 | 20350 | SH |  | SOLE |  | 20350 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 1898270 | 33491 | SH |  | SOLE |  | 33491 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | U S TECH LEADERS | 46654Q732 |  | 3416004 | 42947 | SH |  | SOLE |  | 42947 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 3649032 | 72101 | SH |  | SOLE |  | 72101 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | FLEXIBLE DEBT ET | 46654Q559 |  | 5872728 | 118233 | SH |  | SOLE |  | 118233 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | REALTY INCOME ET | 46641Q126 |  | 13228431 | 275191 | SH |  | SOLE |  | 275191 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | INTRNL RES EQT | 46641Q134 |  | 31114749 | 410810 | SH |  | SOLE |  | 410810 | 0 | 0 |
| JANUS DETROIT STR TR | B-BBB CLO ETF | 47103U753 |  | 1601674 | 34367 | SH |  | SOLE |  | 34367 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 2373233 | 47116 | SH |  | SOLE |  | 47116 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 6033757 | 24684 | SH |  | SOLE |  | 24684 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 6275609 | 21334 | SH |  | SOLE |  | 21334 | 0 | 0 |
| KARMAN HLDGS INC | COMMON STOCK | 485924104 |  | 16010000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| KIMCO REALTY CORP | COM | 49446R109 |  | 2382112 | 106013 | SH |  | SOLE |  | 106013 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 35698248 | 385927 | SH |  | SOLE |  | 385927 | 0 | 0 |
| KLAVIYO INC | COM SER A | 49845K101 |  | 356118 | 18300 | SH |  | SOLE |  | 18300 | 0 | 0 |
| KODIAK SCIENCES INC | COM | 50015M109 |  | 2531092 | 66398 | SH |  | SOLE |  | 66398 | 0 | 0 |
| LATAM AIRLINES GROUP SA | SPONSORED ADR | 51817R205 |  | 470768 | 9522 | SH |  | SOLE |  | 9522 | 0 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 2293111 | 124019 | SH |  | SOLE |  | 124019 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 5135580 | 102099 | SH |  | SOLE |  | 102099 | 0 | 0 |
| LIBERTY LIVE HOLDINGS INC | COM SHS SER C | 530909308 |  | 255509 | 2715 | SH |  | SOLE |  | 2715 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 2376365 | 30435 | SH |  | SOLE |  | 30435 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 3498318 | 41147 | SH |  | SOLE |  | 41147 | 0 | 0 |
| LINEAGE INC | COM | 53566V106 |  | 4377653 | 133628 | SH |  | SOLE |  | 133628 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 585200 | 44000 | SH |  | SOLE |  | 44000 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES NV | SHS - A - | N53745100 |  | 8199397 | 101780 | SH |  | SOLE |  | 101780 | 0 | 0 |
| MAGNERA CORP | COM SHS | 55939A107 |  | 103830 | 10918 | SH |  | SOLE |  | 10918 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 298297 | 597 | SH |  | SOLE |  | 597 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 1311845 | 4221 | SH |  | SOLE |  | 4221 | 0 | 0 |
| MEDLINE INC | COM CL A | 58507V107 |  | 24690959 | 554853 | SH |  | SOLE |  | 554853 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 2187474 | 18185 | SH |  | SOLE |  | 18185 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 12060500 | 21080 | SH |  | SOLE |  | 21080 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 762167 | 2256 | SH |  | SOLE |  | 2256 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 170418494 | 460379 | SH |  | SOLE |  | 460379 | 0 | 0 |
| MIZUHO FINANCIAL GROUP INC | SPONSORED ADR | 60687Y109 |  | 80273 | 10110 | SH |  | SOLE |  | 10110 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 272593 | 5366 | SH |  | SOLE |  | 5366 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 674503 | 11702 | SH |  | SOLE |  | 11702 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 5444836 | 12481 | SH |  | SOLE |  | 12481 | 0 | 0 |
| MPLX LP | COM UNIT REP LTD | 55336V100 |  | 1426750 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| MSA SAFETY INC | COM | 553498106 |  | 3882336 | 23680 | SH |  | SOLE |  | 23680 | 0 | 0 |
| NAVIOS MARITIME PARTNERS LP | COM UNIT LPI | Y62267409 |  | 536871 | 7956 | SH |  | SOLE |  | 7956 | 0 | 0 |
| NET LEASE OFFICE PROPERTIES | COM | 64110Y108 |  | 290477 | 25215 | SH |  | SOLE |  | 25215 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 1052458 | 10946 | SH |  | SOLE |  | 10946 | 0 | 0 |
| NEW MTN FIN CORP | COM | 647551100 |  | 6618667 | 852921 | SH |  | SOLE |  | 852921 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 2013638 | 21680 | SH |  | SOLE |  | 21680 | 0 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 442364 | 2896 | SH |  | SOLE |  | 2896 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 638752 | 17381 | SH |  | SOLE |  | 17381 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 33454208 | 2328059 | SH |  | SOLE |  | 2328059 | 0 | 0 |
| NUCOR CORP | COM | 670346105 |  | 344288 | 2036 | SH |  | SOLE |  | 2036 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1696749518 | 9729068 | SH |  | SOLE |  | 9729068 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 995064 | 151 | SH |  | SOLE |  | 151 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 6595236 | 44832 | SH |  | SOLE |  | 44832 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 6002015 | 41031 | SH |  | SOLE |  | 41031 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 18186220 | 113437 | SH |  | SOLE |  | 113437 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 517449 | 578 | SH |  | SOLE |  | 578 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 462467 | 4526 | SH |  | SOLE |  | 4526 | 0 | 0 |
| PEBBLEBROOK HOTEL TR | COM | 70509V100 |  | 126300 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 12944509 | 83357 | SH |  | SOLE |  | 83357 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 3465196 | 20958 | SH |  | SOLE |  | 20958 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 648014 | 3557 | SH |  | SOLE |  | 3557 | 0 | 0 |
| PJT PARTNERS INC | COM CL A | 69343T107 |  | 1318677 | 9438 | SH |  | SOLE |  | 9438 | 0 | 0 |
| PROCEPT BIOROBOTICS CORP | COM | 74276L105 |  | 1493597 | 59720 | SH |  | SOLE |  | 59720 | 0 | 0 |
| PROCORE TECHNOLOGIES INC | COM | 74275K108 |  | 936453 | 16429 | SH |  | SOLE |  | 16429 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 1548108 | 10718 | SH |  | SOLE |  | 10718 | 0 | 0 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 577118 | 5444 | SH |  | SOLE |  | 5444 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 582428 | 5962 | SH |  | SOLE |  | 5962 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 789679 | 6132 | SH |  | SOLE |  | 6132 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 251883 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 8075668 | 116532 | SH |  | SOLE |  | 116532 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 37763189 | 667666 | SH |  | SOLE |  | 667666 | 0 | 0 |
| ROCKET COS INC | COM CL A | 77311W101 |  | 275709 | 19348 | SH |  | SOLE |  | 19348 | 0 | 0 |
| RYANAIR HOLDINGS PLC | SPONSORED ADR | 783513203 |  | 12775245 | 221025 | SH |  | SOLE |  | 221025 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 658852 | 1549 | SH |  | SOLE |  | 1549 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 824895 | 4419 | SH |  | SOLE |  | 4419 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 1758155 | 10269 | SH |  | SOLE |  | 10269 | 0 | 0 |
| SCHOLAR ROCK HLDG CORP | COM | 80706P103 |  | 245800 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 5994796 | 63788 | SH |  | SOLE |  | 63788 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 1427976 | 17244 | SH |  | SOLE |  | 17244 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 740087 | 5048 | SH |  | SOLE |  | 5048 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 1592408 | 11982 | SH |  | SOLE |  | 11982 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 1807660 | 29508 | SH |  | SOLE |  | 29508 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 751347 | 8079 | SH |  | SOLE |  | 8079 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 3206782 | 10004 | SH |  | SOLE |  | 10004 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 3970080 | 216000 | SH |  | SOLE |  | 216000 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 2136214 | 14164 | SH |  | SOLE |  | 14164 | 0 | 0 |
| SOLENO THERAPEUTICS INC | COM | 834203309 |  | 6696000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 2686327 | 36341 | SH |  | SOLE |  | 36341 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 9418618 | 21889 | SH |  | SOLE |  | 21889 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A631 |  | 1195992 | 4709 | SH |  | SOLE |  | 4709 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R747 |  | 3259393 | 25502 | SH |  | SOLE |  | 25502 | 0 | 0 |
| SSGA ACTIVE ETF TR | STATE STREET BLA | 78467V608 |  | 2714628 | 67629 | SH |  | SOLE |  | 67629 | 0 | 0 |
| SSGA ACTIVE TR | SST BRIDGEWATER | 78470P630 |  | 14922461 | 517243 | SH |  | SOLE |  | 517243 | 0 | 0 |
| STAR BULK CARRIERS CORP. | SHS PAR | Y8162K204 |  | 290984 | 12668 | SH |  | SOLE |  | 12668 | 0 | 0 |
| STATE STR SPDR DOW JONES IND | UT SER 1 | 78467X109 |  | 541006 | 1168 | SH |  | SOLE |  | 1168 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 109240862 | 167975 | SH |  | SOLE |  | 167975 | 0 | 0 |
| STONEX GROUP INC | COM | 861896108 |  | 2180211 | 27033 | SH |  | SOLE |  | 27033 | 0 | 0 |
| SUNBELT RENTALS HOLDINGS INC | SHS | 866966104 |  | 4845885 | 74449 | SH |  | SOLE |  | 74449 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 255581 | 3866 | SH |  | SOLE |  | 3866 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 90428661 | 267580 | SH |  | SOLE |  | 267580 | 0 | 0 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 14904210 | 46688 | SH |  | SOLE |  | 46688 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 221796 | 1830 | SH |  | SOLE |  | 1830 | 0 | 0 |
| TCW ETF TRUST | TRANSFRM 500 ETF | 29287L106 |  | 36367178 | 476634 | SH |  | SOLE |  | 476634 | 0 | 0 |
| TELESAT CORP | CL A  CL B SHS | 879512309 |  | 1448000 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 6218634 | 16728 | SH |  | SOLE |  | 16728 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 4954200 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| THE ALGER ETF TRUST | AI ENABLERS ADOP | 015564503 |  | 353297 | 10693 | SH |  | SOLE |  | 10693 | 0 | 0 |
| THE ALGER ETF TRUST | CONCENTRATED EQT | 015564404 |  | 335940 | 10795 | SH |  | SOLE |  | 10795 | 0 | 0 |
| TIDAL TRUST I | UNLIMITED HFGM | 886364363 |  | 283442 | 8841 | SH |  | SOLE |  | 8841 | 0 | 0 |
| TIDAL TRUST III | VISTASHARES ARTI | 45259A845 |  | 550572 | 13137 | SH |  | SOLE |  | 13137 | 0 | 0 |
| TPG INC | COM CL A | 872657101 |  | 12522694 | 309126 | SH |  | SOLE |  | 309126 | 0 | 0 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 46236709 | 39895 | SH |  | SOLE |  | 39895 | 0 | 0 |
| TRANSOCEAN LTD | REGISTERED SHS | H8817H100 |  | 163622 | 24679 | SH |  | SOLE |  | 24679 | 0 | 0 |
| TSAKOS ENERGY NAVIGATION LTD | SHS | G9108L173 |  | 410660 | 10407 | SH |  | SOLE |  | 10407 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 1241487 | 5117 | SH |  | SOLE |  | 5117 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 26887446 | 99366 | SH |  | SOLE |  | 99366 | 0 | 0 |
| UNITY SOFTWARE INC | COM | 91332U101 |  | 1679990 | 76572 | SH |  | SOLE |  | 76572 | 0 | 0 |
| VALHI INC NEW | COM | 918905209 |  | 1254353 | 87717 | SH |  | SOLE |  | 87717 | 0 | 0 |
| VANECK ETF TRUST | OIL SERVICES ETF | 92189H607 |  | 557001 | 1378 | SH |  | SOLE |  | 1378 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 482921 | 4023 | SH |  | SOLE |  | 4023 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 850341 | 9266 | SH |  | SOLE |  | 9266 | 0 | 0 |
| VANGUARD ADMIRAL FDS INC | SMLLCP 600 IDX | 921932828 |  | 884421 | 7702 | SH |  | SOLE |  | 7702 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 15846518 | 215189 | SH |  | SOLE |  | 215189 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 120728896 | 1539713 | SH |  | SOLE |  | 1539713 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1171830 | 4474 | SH |  | SOLE |  | 4474 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 3442342 | 7881 | SH |  | SOLE |  | 7881 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 4479638 | 22832 | SH |  | SOLE |  | 22832 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 46332124 | 144422 | SH |  | SOLE |  | 144422 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 102303280 | 356234 | SH |  | SOLE |  | 356234 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 308491802 | 516261 | SH |  | SOLE |  | 516261 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 621610 | 4494 | SH |  | SOLE |  | 4494 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 926525 | 17142 | SH |  | SOLE |  | 17142 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 2096717 | 27919 | SH |  | SOLE |  | 27919 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 252849 | 4246 | SH |  | SOLE |  | 4246 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 271333 | 4635 | SH |  | SOLE |  | 4635 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 965272 | 8800 | SH |  | SOLE |  | 8800 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 807392 | 9757 | SH |  | SOLE |  | 9757 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000GRW | 92206C623 |  | 2728073 | 11911 | SH |  | SOLE |  | 11911 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 2259433 | 28503 | SH |  | SOLE |  | 28503 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1394664 | 6485 | SH |  | SOLE |  | 6485 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 19843487 | 257340 | SH |  | SOLE |  | 257340 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 21387187 | 333758 | SH |  | SOLE |  | 333758 | 0 | 0 |
| VANGUARD WELLINGTON FD | US QUALITY | 921935706 |  | 725570 | 4862 | SH |  | SOLE |  | 4862 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 1816863 | 2604 | SH |  | SOLE |  | 2604 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 277718 | 1581 | SH |  | SOLE |  | 1581 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 3604593 | 14385 | SH |  | SOLE |  | 14385 | 0 | 0 |
| VIPER ENERGY INC | CL A | 64361Q101 |  | 469900 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| VIPSHOP HLDGS LTD | SPONSORED ADS A | 92763W103 |  | 2357607 | 149975 | SH |  | SOLE |  | 149975 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 4073288 | 13477 | SH |  | SOLE |  | 13477 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 214070 | 1424 | SH |  | SOLE |  | 1424 | 0 | 0 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 58987 | 11257 | SH |  | SOLE |  | 11257 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 571564 | 4599 | SH |  | SOLE |  | 4599 | 0 | 0 |
| WARRIOR MET COAL INC | COM | 93627C101 |  | 207352 | 2226 | SH |  | SOLE |  | 2226 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 |  | 2022094 | 25400 | SH |  | SOLE |  | 25400 | 0 | 0 |
| WESTERN UN CO | COM | 959802109 |  | 174600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| WISDOMTREE TR | US SMALLCAP DIVD | 97717W604 |  | 203780 | 5670 | SH |  | SOLE |  | 5670 | 0 | 0 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 |  | 869271 | 17268 | SH |  | SOLE |  | 17268 | 0 | 0 |
| XBP GLOBAL HOLDINGS INC | COM NEW | 98400V200 |  | 130262 | 29605 | SH |  | SOLE |  | 29605 | 0 | 0 |
| XOMETRY INC | CLASS A COM | 98423F109 |  | 1644463 | 40266 | SH |  | SOLE |  | 40266 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 4087702 | 34580 | SH |  | SOLE |  | 34580 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 285385 | 3550 | SH |  | SOLE |  | 3550 | 0 | 0 |
| ZOOMINFO TECHNOLOGIES INC | COMMON STOCK | 98980F104 |  | 673593 | 112641 | SH |  | SOLE |  | 112641 | 0 | 0 |

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