# EDGAR Filing Document

**Accession Number:** 0001387761
**File Stem:** 0001172661-25-004731
**Filing Date:** 2025-11
**Character Count:** 22702
**Document Hash:** 31e7bd394449f68b486656112e9eebbd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004731.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001172661-25-004731

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TWIN FOCUS CAPITAL PARTNERS, LLC
- **CENTRAL INDEX KEY:** 0001387761

**ORGANIZATION NAME:**
- **EIN:** 205022212
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15420
- **FILM NUMBER:** 251472310

**BUSINESS ADDRESS:**
- **STREET 1:** SEVENTY-FIVE PARK PLAZA
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-720-4500

**MAIL ADDRESS:**
- **STREET 1:** SEVENTY-FIVE PARK PLAZA
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** TWIN FOCUS CAPITAL PARTNERS LLC<br>**Address:** Seventy-five Park Plaza<br>Boston, MA 02116

**Form 13F File Number:** 028-15420

**CRD Number (if applicable):** 000140522

**SEC File Number (if applicable):** 801-66717

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:** John Pantekidis<br>**Title:** Chief Compliance Officer<br>**Phone:** 617-720-4517

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

/s/ John Pantekidis  Boston, MA  11-12-2025<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:** 188

**Form 13F Information Table Value Total:** $786921385

      (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 |
| ABBVIE INC | COM | 00287Y109 |  | 237329 | 1025 | SH |  | SOLE |  | 1025 | 0 | 0 |
| ABRDN PLATINUM ETF TRUST | PHYSCL PLATM SHS | 003260106 |  | 342912 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 |  | 896572 | 40205 | SH |  | SOLE |  | 40205 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 679505 | 2790 | SH |  | SOLE |  | 2790 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2717943 | 11180 | SH |  | SOLE |  | 11180 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 1193802 | 5437 | SH |  | SOLE |  | 5437 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 218283 | 1135 | SH |  | SOLE |  | 1135 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 8607888 | 33805 | SH |  | SOLE |  | 33805 | 0 | 0 |
| ARK ETF TR | AUTNMUS TECHNLGY | 00214Q203 |  | 213080 | 1910 | SH |  | SOLE |  | 1910 | 0 | 0 |
| ASA GOLD AND PRECIOUS MTLS L | SHS | G3156P103 |  | 297700 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 551414 | 19526 | SH |  | SOLE |  | 19526 | 0 | 0 |
| BANCO SANTANDER S.A. | ADR | 05964H105 |  | 121840 | 11626 | SH |  | SOLE |  | 11626 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 564085 | 10934 | SH |  | SOLE |  | 10934 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 329797 | 656 | SH |  | SOLE |  | 656 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 754200 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| BLACKROCK ETF TRUST | ISHARES US EQUIT | 09290C103 |  | 276227 | 4666 | SH |  | SOLE |  | 4666 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES AAA CLO | 092528504 |  | 298799 | 5750 | SH |  | SOLE |  | 5750 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 1107577 | 950 | SH |  | SOLE |  | 950 | 0 | 0 |
| BLACKROCK MUN TARGET TERM TR | COM SHS BEN IN | 09257P105 |  | 242343 | 10790 | SH |  | SOLE |  | 10790 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 332442 | 4600 | SH |  | SOLE |  | 4600 | 0 | 0 |
| BNY MELLON ETF TRUST | GLOBAL INFRASCTR | 09661T826 |  | 9968100 | 256019 | SH |  | SOLE |  | 256019 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 215830 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 2309370 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| CARTESIAN THERAPEUTICS INC | COM NEW | 816212302 |  | 199290 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 558250 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 1025375 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 946433 | 1930 | SH |  | SOLE |  | 1930 | 0 | 0 |
| CULLINAN THERAPEUTICS INC | COM | 230031106 |  | 3531250 | 595489 | SH |  | SOLE |  | 595489 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 615242 | 18655 | SH |  | SOLE |  | 18655 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 32323589 | 228000 | SH |  | SOLE |  | 228000 | 0 | 0 |
| ECHOSTAR CORP | CL A | 278768106 |  | 992680 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 295281 | 387 | SH |  | SOLE |  | 387 | 0 | 0 |
| EXCHANGE TRADED CONCEPTS TRU | EMQQ THE EMERGIN | 301505889 |  | 394465 | 8495 | SH |  | SOLE |  | 8495 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1040344 | 9227 | SH |  | SOLE |  | 9227 | 0 | 0 |
| FIDELITY COVINGTON TRUST | ENHANCED MID | 31609A503 |  | 598153 | 16546 | SH |  | SOLE |  | 16546 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 507408 | 7695 | SH |  | SOLE |  | 7695 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 1316689 | 4377 | SH |  | SOLE |  | 4377 | 0 | 0 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 347338 | 4625 | SH |  | SOLE |  | 4625 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 1409966 | 2293 | SH |  | SOLE |  | 2293 | 0 | 0 |
| GLOBAL PARTNERS LP | COM UNITS | 37946R109 |  | 1056000 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| GLOBAL X FDS | ARTIFICIAL ETF | 37954Y632 |  | 1326862 | 26865 | SH |  | SOLE |  | 26865 | 0 | 0 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 |  | 776417 | 16301 | SH |  | SOLE |  | 16301 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 |  | 729351 | 15300 | SH |  | SOLE |  | 15300 | 0 | 0 |
| GLOBAL X FDS | GLBL X MLP ETF | 37954Y343 |  | 648053 | 13384 | SH |  | SOLE |  | 13384 | 0 | 0 |
| GRANITESHARES PLATINUM TR | SHS BEN INT | 38748T103 |  | 453300 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 |  | 223430 | 4413 | SH |  | SOLE |  | 4413 | 0 | 0 |
| HARBOR ETF TRUST | HARBOR COMMODITY | 41151J505 |  | 1431900 | 55500 | SH |  | SOLE |  | 55500 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 |  | 1247155 | 2666 | SH |  | SOLE |  | 2666 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 281112 | 440 | SH |  | SOLE |  | 440 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 385859 | 11501 | SH |  | SOLE |  | 11501 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 3033482 | 18005 | SH |  | SOLE |  | 18005 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1692960 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | ULTRA SHRT DUR | 46090A887 |  | 551570 | 10980 | SH |  | SOLE |  | 10980 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 569100 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 7674530 | 12783 | SH |  | SOLE |  | 12783 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 76285737 | 1048313 | SH |  | SOLE |  | 1048313 | 0 | 0 |
| ISHARES INC | MSCI EURZONE ETF | 464286608 |  | 980448 | 15829 | SH |  | SOLE |  | 15829 | 0 | 0 |
| ISHARES INC | MSCI STH KOR ETF | 464286772 |  | 396896 | 4955 | SH |  | SOLE |  | 4955 | 0 | 0 |
| ISHARES INC | ESG AWR MSCI EM | 46434G863 |  | 1416416 | 32621 | SH |  | SOLE |  | 32621 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 9146671 | 138754 | SH |  | SOLE |  | 138754 | 0 | 0 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 1183579 | 14756 | SH |  | SOLE |  | 14756 | 0 | 0 |
| ISHARES INC | MSCI GERMANY ETF | 464286806 |  | 444062 | 10672 | SH |  | SOLE |  | 10672 | 0 | 0 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 223121 | 3305 | SH |  | SOLE |  | 3305 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 276676 | 6530 | SH |  | SOLE |  | 6530 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 3245835 | 15943 | SH |  | SOLE |  | 15943 | 0 | 0 |
| ISHARES TR | EAFE SML CP ETF | 464288273 |  | 561590 | 7320 | SH |  | SOLE |  | 7320 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 14123665 | 116995 | SH |  | SOLE |  | 116995 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 13637081 | 136030 | SH |  | SOLE |  | 136030 | 0 | 0 |
| ISHARES TR | EAFE GRWTH ETF | 464288885 |  | 306565 | 2692 | SH |  | SOLE |  | 2692 | 0 | 0 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 225043 | 1149 | SH |  | SOLE |  | 1149 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 4304758 | 11360 | SH |  | SOLE |  | 11360 | 0 | 0 |
| ISHARES TR | EUROPE ETF | 464287861 |  | 1874289 | 28623 | SH |  | SOLE |  | 28623 | 0 | 0 |
| ISHARES TR | GLOB HLTHCRE ETF | 464287325 |  | 399144 | 4504 | SH |  | SOLE |  | 4504 | 0 | 0 |
| ISHARES TR | DOW JONES US ETF | 464287846 |  | 495395 | 3049 | SH |  | SOLE |  | 3049 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 755755 | 14517 | SH |  | SOLE |  | 14517 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 280378 | 2906 | SH |  | SOLE |  | 2906 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 4222285 | 79069 | SH |  | SOLE |  | 79069 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 11947236 | 107419 | SH |  | SOLE |  | 107419 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 3037349 | 14708 | SH |  | SOLE |  | 14708 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 493581 | 4635 | SH |  | SOLE |  | 4635 | 0 | 0 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 647111 | 4544 | SH |  | SOLE |  | 4544 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 212220 | 1535 | SH |  | SOLE |  | 1535 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 613590 | 9318 | SH |  | SOLE |  | 9318 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 14937899 | 40872 | SH |  | SOLE |  | 40872 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 1643258 | 6061 | SH |  | SOLE |  | 6061 | 0 | 0 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 |  | 216531 | 4900 | SH |  | SOLE |  | 4900 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 476747 | 5106 | SH |  | SOLE |  | 5106 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 6369509 | 97602 | SH |  | SOLE |  | 97602 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 9066343 | 13546 | SH |  | SOLE |  | 13546 | 0 | 0 |
| ISHARES TR | MORNINGSTAR GRWT | 464287119 |  | 3665311 | 35142 | SH |  | SOLE |  | 35142 | 0 | 0 |
| ISHARES TR | CORE TOTAL USD | 46434V613 |  | 508812 | 10893 | SH |  | SOLE |  | 10893 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 5801786 | 60091 | SH |  | SOLE |  | 60091 | 0 | 0 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 22676634 | 155692 | SH |  | SOLE |  | 155692 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 86593203 | 991790 | SH |  | SOLE |  | 991790 | 0 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 877163 | 5331 | SH |  | SOLE |  | 5331 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 9550794 | 68381 | SH |  | SOLE |  | 68381 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 2266941 | 19077 | SH |  | SOLE |  | 19077 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 1504392 | 12588 | SH |  | SOLE |  | 12588 | 0 | 0 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 203983 | 4247 | SH |  | SOLE |  | 4247 | 0 | 0 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 716760 | 10567 | SH |  | SOLE |  | 10567 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 442638 | 3066 | SH |  | SOLE |  | 3066 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 3243232 | 13404 | SH |  | SOLE |  | 13404 | 0 | 0 |
| ISHARES U S ETF TR | GSCI CMDTY STGY | 46431W853 |  | 207953 | 7745 | SH |  | SOLE |  | 7745 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 14729097 | 290057 | SH |  | SOLE |  | 290057 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1357611 | 4304 | SH |  | SOLE |  | 4304 | 0 | 0 |
| KLAVIYO INC | COM SER A | 49845K101 |  | 11431429 | 412836 | SH |  | SOLE |  | 412836 | 0 | 0 |
| KRANESHARES TRUST | CALIFORNIA CARB | 500767553 |  | 181437 | 10629 | SH |  | SOLE |  | 10629 | 0 | 0 |
| MAPLEBEAR INC | COM | 565394103 |  | 577132 | 15700 | SH |  | SOLE |  | 15700 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 252607 | 1253 | SH |  | SOLE |  | 1253 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 927048 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 221631 | 301 | SH |  | SOLE |  | 301 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 418300 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 3388947 | 6543 | SH |  | SOLE |  | 6543 | 0 | 0 |
| MIZUHO FINANCIAL GROUP INC | SPONSORED ADR | 60687Y109 |  | 114731 | 17124 | SH |  | SOLE |  | 17124 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 248176 | 207 | SH |  | SOLE |  | 207 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1523985 | 8168 | SH |  | SOLE |  | 8168 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 923760 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 438000 | 2850 | SH |  | SOLE |  | 2850 | 0 | 0 |
| PROSHARES TR | SP500 EX ENRGY | 74347B581 |  | 418542 | 5800 | SH |  | SOLE |  | 5800 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 274911 | 2650 | SH |  | SOLE |  | 2650 | 0 | 0 |
| PUTNAM MANAGED MUN INCOME TR | COM | 746823103 |  | 144918 | 23993 | SH |  | SOLE |  | 23993 | 0 | 0 |
| PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 |  | 323267 | 31294 | SH |  | SOLE |  | 31294 | 0 | 0 |
| ROYCE MICRO-CAP TR INC | COM | 780915104 |  | 645853 | 62161 | SH |  | SOLE |  | 62161 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 911949 | 5450 | SH |  | SOLE |  | 5450 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 9527693 | 109250 | SH |  | SOLE |  | 109250 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 4473682 | 15872 | SH |  | SOLE |  | 15872 | 0 | 0 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 745085 | 4831 | SH |  | SOLE |  | 4831 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 2146397 | 27387 | SH |  | SOLE |  | 27387 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 4236474 | 30441 | SH |  | SOLE |  | 30441 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 2827887 | 6098 | SH |  | SOLE |  | 6098 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 24500770 | 68925 | SH |  | SOLE |  | 68925 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 206676 | 4830 | SH |  | SOLE |  | 4830 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 17605139 | 26427 | SH |  | SOLE |  | 26427 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 617946 | 7888 | SH |  | SOLE |  | 7888 | 0 | 0 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 3298878 | 23555 | SH |  | SOLE |  | 23555 | 0 | 0 |
| SPDR SERIES TRUST | S BIOTECH | 78464A870 |  | 1182360 | 11800 | SH |  | SOLE |  | 11800 | 0 | 0 |
| SPDR SERIES TRUST | PRTFLO S VL | 78464A508 |  | 1690000 | 30544 | SH |  | SOLE |  | 30544 | 0 | 0 |
| SPDR SERIES TRUST | PRTFLO S GW | 78464A409 |  | 24255210 | 232085 | SH |  | SOLE |  | 232085 | 0 | 0 |
| SPDR SERIES TRUST | PORTFLI INTRMDIT | 78464A672 |  | 245939 | 8510 | SH |  | SOLE |  | 8510 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO AGRGTE | 78464A649 |  | 204758 | 7921 | SH |  | SOLE |  | 7921 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLI S | 78464A805 |  | 260338 | 3228 | SH |  | SOLE |  | 3228 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A847 |  | 697718 | 12200 | SH |  | SOLE |  | 12200 | 0 | 0 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD AN | 85208R101 |  | 1975573 | 53845 | SH |  | SOLE |  | 53845 | 0 | 0 |
| SRH TOTAL RETURN FUND INC | COM | 101507101 |  | 789724 | 43487 | SH |  | SOLE |  | 43487 | 0 | 0 |
| TRI CONTL CORP | COM | 895436103 |  | 428774 | 12611 | SH |  | SOLE |  | 12611 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1147033 | 11708 | SH |  | SOLE |  | 11708 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 664703 | 1925 | SH |  | SOLE |  | 1925 | 0 | 0 |
| VANECK BITCOIN ETF | SH BEN INT | 92189K105 |  | 1033412 | 31925 | SH |  | SOLE |  | 31925 | 0 | 0 |
| VANECK ETF TRUST | VANECK VIETNAM | 92189F817 |  | 762135 | 42720 | SH |  | SOLE |  | 42720 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 689357 | 9023 | SH |  | SOLE |  | 9023 | 0 | 0 |
| VANECK ETF TRUST | URANIUM AND NUCL | 92189F601 |  | 671468 | 4950 | SH |  | SOLE |  | 4950 | 0 | 0 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 207740 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 76385114 | 232760 | SH |  | SOLE |  | 232760 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 544406 | 5955 | SH |  | SOLE |  | 5955 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 14906271 | 24341 | SH |  | SOLE |  | 24341 | 0 | 0 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 261906 | 880 | SH |  | SOLE |  | 880 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1458290 | 4964 | SH |  | SOLE |  | 4964 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 7401869 | 15433 | SH |  | SOLE |  | 15433 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 4322354 | 14040 | SH |  | SOLE |  | 14040 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 6825951 | 39099 | SH |  | SOLE |  | 39099 | 0 | 0 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 2951586 | 14099 | SH |  | SOLE |  | 14099 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 3764860 | 20188 | SH |  | SOLE |  | 20188 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 576457 | 2762 | SH |  | SOLE |  | 2762 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 950615 | 3738 | SH |  | SOLE |  | 3738 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 |  | 5821046 | 40835 | SH |  | SOLE |  | 40835 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 245905 | 3081 | SH |  | SOLE |  | 3081 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 11017930 | 203357 | SH |  | SOLE |  | 203357 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 7524118 | 105424 | SH |  | SOLE |  | 105424 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 6481382 | 47034 | SH |  | SOLE |  | 47034 | 0 | 0 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 16444418 | 324795 | SH |  | SOLE |  | 324795 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 480436 | 5712 | SH |  | SOLE |  | 5712 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 1539692 | 19263 | SH |  | SOLE |  | 19263 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 9544285 | 44229 | SH |  | SOLE |  | 44229 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 4491638 | 61144 | SH |  | SOLE |  | 61144 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 7992167 | 133380 | SH |  | SOLE |  | 133380 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 1742988 | 12366 | SH |  | SOLE |  | 12366 | 0 | 0 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 326931 | 3650 | SH |  | SOLE |  | 3650 | 0 | 0 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 8776147 | 74097 | SH |  | SOLE |  | 74097 | 0 | 0 |
| VANGUARD WORLD FD | ENERGY ETF | 92204A306 |  | 4150485 | 32977 | SH |  | SOLE |  | 32977 | 0 | 0 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 4912949 | 70822 | SH |  | SOLE |  | 70822 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 377970 | 8600 | SH |  | SOLE |  | 8600 | 0 | 0 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 2403648 | 558988 | SH |  | SOLE |  | 558988 | 0 | 0 |
| VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 |  | 75239 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 654874 | 8755 | SH |  | SOLE |  | 8755 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 363089 | 3523 | SH |  | SOLE |  | 3523 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 339220 | 4047 | SH |  | SOLE |  | 4047 | 0 | 0 |
| WESTERN AST INFL LKD OPP  I | COM | 95766R104 |  | 639751 | 71963 | SH |  | SOLE |  | 71963 | 0 | 0 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 312961 | 3518 | SH |  | SOLE |  | 3518 | 0 | 0 |

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