# EDGAR Filing Document

**Accession Number:** 0001427263
**File Stem:** 0001427263-26-000003
**Filing Date:** 2026-4
**Character Count:** 21503
**Document Hash:** 3ce8f4c3c8a5debf379a68d227e4c6df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001427263-26-000003.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001427263-26-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GFS Advisors, LLC
- **CENTRAL INDEX KEY:** 0001427263

**ORGANIZATION NAME:**
- **EIN:** 208293410

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13054
- **FILM NUMBER:** 26920826

**BUSINESS ADDRESS:**
- **STREET 1:** 1330 POST OAK BLVD, SUITE 2100
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056
- **BUSINESS PHONE:** 713-968-0400

**MAIL ADDRESS:**
- **STREET 1:** 1330 POST OAK BLVD, SUITE 2100
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77056

### 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:** GFS Advisors LLC<br>**Address:** 1330 POST OAK BLVD SUITE 2100<br>HOUSTON, TX 77056

**Form 13F File Number:** 028-13054

**CRD Number (if applicable):** 000143110

**SEC File Number (if applicable):** 801-67899

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:** William Cathriner<br>**Title:** CCO<br>**Phone:** 713-968-0429

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

William Cathriner  Houston, TX  04-30-2026<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:** 159

**Form 13F Information Table Value Total:** $784681342

      (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 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 | BBG001SCXK90 | 6877050 | 317500 | SH |  | SOLE |  | 0 | 0 | 317500 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 | BBG001SCTQY4 | 562200 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 21515261 | 171491 | SH |  | SOLE |  | 0 | 0 | 171491 |
| ALLY FINL INC | COM | 02005N100 | BBG001S5RLN4 | 261915 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 26742636 | 72244 | SH |  | SOLE |  | 0 | 0 | 72244 |
| ANHEUSER BUSCH INBEV SA NV | SPONSORED ADR | 03524A108 | BBG001T53FW2 | 395198 | 26933 | SH |  | SOLE |  | 0 | 0 | 26933 |
| AON PLC | SHS CL A | G0403H108 | BBG00SSQFPR9 | 876143 | 12630 | SH |  | SOLE |  | 0 | 0 | 12630 |
| APARTMENT INVT  MGMT CO | CL A | 03748R747 | BBG001S876N3 | 217898 | 405 | SH |  | SOLE |  | 0 | 0 | 405 |
| APPLOVIN CORP | COM CL A | 03831W108 | BBG006HFPX86 | 203940 | 1545 | SH |  | SOLE |  | 0 | 0 | 1545 |
| ARK ETF TR | GENOMIC REV ETF | 00214Q302 | BBG007FJPCC9 | 12615212 | 186809 | SH |  | SOLE |  | 0 | 0 | 186809 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 | BBG007FJMV49 | 18527411 | 149042 | SH |  | SOLE |  | 0 | 0 | 149042 |
| ARK ETF TR | NEXT GNRTN INTER | 00214Q401 | BBG0077Q7LG8 | 1132856 | 9564 | SH |  | SOLE |  | 0 | 0 | 9564 |
| ARRAY TECHNOLOGIES INC | COM SHS | 04271T100 | BBG002MX7TQ9 | 915951 | 919 | SH |  | SOLE |  | 0 | 0 | 919 |
| BETTERWARE DE MEXC S A P I D | SHS | P1666E105 | BBG008D48FC4 | 2590851 | 22845 | SH |  | SOLE |  | 0 | 0 | 22845 |
| BIOGEN INC | COM | 09062X103 | BBG001S67826 | 1855565 | 23915 | SH |  | SOLE |  | 0 | 0 | 23915 |
| BLACKROCK INC | COM | 09290D101 | BBG01PSW2WR0 | 11827885 | 57167 | SH |  | SOLE |  | 0 | 0 | 57167 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 | BBG001S63L94 | 902715 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| BULLISH | ORD SHS | G16910120 | BBG01W8QW1L1 | 222726 | 327 | SH |  | SOLE |  | 0 | 0 | 327 |
| CARDINAL HEALTH INC | COM | 14149Y108 | BBG001S7PC34 | 26573757 | 275719 | SH |  | SOLE |  | 0 | 0 | 275719 |
| CARLYLE SECURED LENDING INC | COM | 872280102 | BBG00GQVWWQ3 | 2029594 | 40600 | SH |  | SOLE |  | 0 | 0 | 40600 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 20864151 | 500940 | SH |  | SOLE |  | 0 | 0 | 500940 |
| CBRE GBL REAL ESTATE INC FD | COM | 12504G100 | BBG001SJ9SR5 | 424281 | 6769 | SH |  | SOLE |  | 0 | 0 | 6769 |
| CISCO SYS INC | COM | 17275R102 | BBG001S6HC62 | 459373 | 543 | SH |  | SOLE |  | 0 | 0 | 543 |
| CNH INDL N V | SHS | N20944109 | BBG0059JSF67 | 288120 | 7840 | SH |  | SOLE |  | 0 | 0 | 7840 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 | BBG00ZGF7799 | 213508 | 200 | SH |  | SOLE |  | 0 | 0 | 200 |
| CORE  MAIN INC | CL A | 21874C102 | BBG01163K3R5 | 31045313 | 87162 | SH |  | SOLE |  | 0 | 0 | 87162 |
| COUPANG INC | CL A | 22266T109 | BBG00XMJRPR7 | 1520501 | 80535 | SH |  | SOLE |  | 0 | 0 | 80535 |
| CRISPR THERAPEUTICS AG | NAMEN AKT | H17182108 | BBG00DBBGRY0 | 427271 | 12500 | SH |  | SOLE |  | 0 | 0 | 12500 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 | BBG00BLYKRZ7 | 35099684 | 122060 | SH |  | SOLE |  | 0 | 0 | 122060 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 | BBG00DW3SZT0 | 8573806 | 194285 | SH |  | SOLE |  | 0 | 0 | 194285 |
| DIGITAL RLTY TR INC | COM | 253868103 | BBG001SM0K30 | 7097787 | 24129 | SH |  | SOLE |  | 0 | 0 | 24129 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 11288728 | 46182 | SH |  | SOLE |  | 0 | 0 | 46182 |
| DUTCH BROS INC | CL A | 26701L100 | BBG01282ZJ56 | 686532 | 1200 | SH |  | SOLE |  | 0 | 0 | 1200 |
| D-WAVE QUANTUM INC | COM | 26740W109 | BBG0192379X7 | 2211780 | 114600 | SH |  | SOLE |  | 0 | 0 | 114600 |
| EQUINIX INC | COM | 29444U700 | BBG001SKBNS9 | 386303 | 420 | SH |  | SOLE |  | 0 | 0 | 420 |
| EQUINOR ASA | SPONSORED ADR | 29446M102 | BBG001SJ3R93 | 1161638 | 1922 | SH |  | SOLE |  | 0 | 0 | 1922 |
| ETSY INC | COM | 29786A106 | BBG001T53625 | 274813 | 550 | SH |  | SOLE |  | 0 | 0 | 550 |
| FAIR ISAAC CORP | COM | 303250104 | BBG001S8ZT61 | 6592082 | 11522 | SH |  | SOLE |  | 0 | 0 | 11522 |
| FERRARI N V | COM | N3167Y103 | BBG009PH3Q95 | 728200 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| FIRST TR EXCHANGE-TRADED FD | UTILITIES ALPH | 33734X184 | BBG001ST68P2 | 9421626 | 15276 | SH |  | SOLE |  | 0 | 0 | 15276 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 420026 | 6365 | SH |  | SOLE |  | 0 | 0 | 6365 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 | BBG01BFR8YW0 | 9504594 | 79014 | SH |  | SOLE |  | 0 | 0 | 79014 |
| GLOBAL X FDS | ARTIFICIAL ETF | 37954Y632 | BBG00KX8KH01 | 1676800 | 131000 | SH |  | SOLE |  | 0 | 0 | 131000 |
| GLOBAL X FDS | RBTCS ARTFL INTE | 37954Y715 | BBG00DSB42H9 | 2017045 | 9440 | SH |  | SOLE |  | 0 | 0 | 9440 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 | BBG00G5CR9C0 | 1513659 | 7355 | SH |  | SOLE |  | 0 | 0 | 7355 |
| GLOBANT S A | COM | L44385109 | BBG00564Y4W2 | 293281 | 26000 | SH |  | SOLE |  | 0 | 0 | 26000 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 1864877 | 5520 | SH |  | SOLE |  | 0 | 0 | 5520 |
| HONEYWELL INTL INC | COM | 438516106 | BBG001S5X1N1 | 628824 | 5809 | SH |  | SOLE |  | 0 | 0 | 5809 |
| HP INC | COM | 40434L105 | BBG001S6W7N7 | 7243629 | 137138 | SH |  | SOLE |  | 0 | 0 | 137138 |
| ICON PLC | SHS | G4705A100 | BBG001SDCL35 | 322806 | 6700 | SH |  | SOLE |  | 0 | 0 | 6700 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 | BBG001SQ4YC7 | 10573349 | 60627 | SH |  | SOLE |  | 0 | 0 | 60627 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 | BBG001S7XR78 | 1184925 | 7391 | SH |  | SOLE |  | 0 | 0 | 7391 |
| INVESCO CURRENCYSHARES EURO | EURO SHS | 46138K103 | BBG001SP5TS2 | 1867611 | 20351 | SH |  | SOLE |  | 0 | 0 | 20351 |
| INVESCO CURRENCYSHARES SWISS | SWISS FRANC | 46138R108 | BBG001SR8G12 | 2747402 | 6385 | SH |  | SOLE |  | 0 | 0 | 6385 |
| INVESCO EXCH TRADED FD TR II | KBW BK ETF | 46138E628 | BBG0027F1V40 | 812668 | 1360 | SH |  | SOLE |  | 0 | 0 | 1360 |
| INVESCO EXCH TRADED FD TR II | TAXABLE MUN BD | 46138G805 | BBG001STKGB3 | 4773506 | 63562 | SH |  | SOLE |  | 0 | 0 | 63562 |
| INVESCO EXCHANGE TRADED FD T | AEROSPACE DEFN | 46137V100 | BBG001S8JG85 | 1771998 | 13873 | SH |  | SOLE |  | 0 | 0 | 13873 |
| INVESCO EXCHANGE TRADED FD T | AI AND NEXT GEN | 46137V639 | BBG001SN6GV0 | 461479 | 13710 | SH |  | SOLE |  | 0 | 0 | 13710 |
| INVESCO EXCHANGE TRADED FD T | DORSEY WRGT UTIL | 46137V795 | BBG001SPHL51 | 4037340 | 65905 | SH |  | SOLE |  | 0 | 0 | 65905 |
| INVESCO EXCHANGE TRADED FD T | S EQL UTL | 46137V274 | BBG00KJR2W66 | 300047 | 3660 | SH |  | SOLE |  | 0 | 0 | 3660 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 | BBG00KJR2NN7 | 1670582 | 33838 | SH |  | SOLE |  | 0 | 0 | 33838 |
| IONQ INC | COM | 46222L108 | BBG00XZP0LC3 | 745406 | 5067 | SH |  | SOLE |  | 0 | 0 | 5067 |
| IRON MTN INC DEL | COM | 46284V101 | BBG001SCQ2X1 | 130185 | 11350 | SH |  | SOLE |  | 0 | 0 | 11350 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | BBG01KYQ6QS5 | 3615236 | 53056 | SH |  | SOLE |  | 0 | 0 | 53056 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 | BBG001SJK6D5 | 547452 | 8698 | SH |  | SOLE |  | 0 | 0 | 8698 |
| ISHARES INC | MSCI CDA ETF | 464286509 | BBG001S8R7V0 | 175476 | 11085 | SH |  | SOLE |  | 0 | 0 | 11085 |
| ISHARES INC | MSCI GBL ETF NEW | 46434G848 | BBG002GKR9K2 | 735878 | 9385 | SH |  | SOLE |  | 0 | 0 | 9385 |
| ISHARES INC | MSCI GERMANY ETF | 464286806 | BBG001S8SJC4 | 308110 | 7296 | SH |  | SOLE |  | 0 | 0 | 7296 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 | BBG001S8SYN9 | 478049 | 10206 | SH |  | SOLE |  | 0 | 0 | 10206 |
| ISHARES SILVER TR | ISHARES | 46428Q109 | BBG001SQLN69 | 4359600 | 242200 | SH |  | SOLE |  | 0 | 0 | 242200 |
| ISHARES TR | 0-5YR INVT GR CP | 46434V100 | BBG005DW0468 | 8267636 | 575340 | SH |  | SOLE |  | 0 | 0 | 575340 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 | BBG001SKXPR1 | 395946 | 229 | SH |  | SOLE |  | 0 | 0 | 229 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 | BBG001SMDNB1 | 821421 | 8405 | SH |  | SOLE |  | 0 | 0 | 8405 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 | BBG003H6TRS0 | 516204 | 5200 | SH |  | SOLE |  | 0 | 0 | 5200 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 15358014 | 80023 | SH |  | SOLE |  | 0 | 0 | 80023 |
| ISHARES TR | CORE US AGGBD ET | 464287226 | BBG001SM1QT8 | 450581 | 9110 | SH |  | SOLE |  | 0 | 0 | 9110 |
| ISHARES TR | EAFE SML CP ETF | 464288273 | BBG001SYVWS7 | 701687 | 24432 | SH |  | SOLE |  | 0 | 0 | 24432 |
| ISHARES TR | EUROPE ETF | 464287861 | BBG001SFGXD9 | 271453 | 2902 | SH |  | SOLE |  | 0 | 0 | 2902 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 | BBG001V1QYX1 | 767182 | 15240 | SH |  | SOLE |  | 0 | 0 | 15240 |
| ISHARES TR | LATN AMER 40 ETF | 464287390 | BBG001SJRVW2 | 3244162 | 188395 | SH |  | SOLE |  | 0 | 0 | 188395 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 | BBG001T2V2D8 | 1328500 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| ISHARES TR | MSCI EAFE ETF | 464287465 | BBG001SG09V7 | 1695020 | 71550 | SH |  | SOLE |  | 0 | 0 | 71550 |
| ISHARES TR | MSCI POLAND ETF | 46429B606 | BBG001S56L11 | 1055803 | 10870 | SH |  | SOLE |  | 0 | 0 | 10870 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 | BBG001SZV978 | 3755259 | 25758 | SH |  | SOLE |  | 0 | 0 | 25758 |
| ISHARES TR | NORTH AMERN NAT | 464287374 | BBG001SJKDG7 | 1375474 | 41405 | SH |  | SOLE |  | 0 | 0 | 41405 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 | BBG001S562P7 | 30592644 | 47041 | SH |  | SOLE |  | 0 | 0 | 47041 |
| ISHARES TR | SELECT DIVID ETF | 464287168 | BBG001SDJVG2 | 2589142 | 45680 | SH |  | SOLE |  | 0 | 0 | 45680 |
| ISHARES TR | SP SMCP600VL ETF | 464287879 | BBG001SFQL26 | 780474 | 8252 | SH |  | SOLE |  | 0 | 0 | 8252 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 | BBG001SSD803 | 24820733 | 459218 | SH |  | SOLE |  | 0 | 0 | 459218 |
| ISHARES TR | U.S. PHARMA ETF | 464288836 | BBG001SQYZD0 | 1491300 | 9000 | SH |  | SOLE |  | 0 | 0 | 9000 |
| ISHARES TR | U.S. TECH ETF | 464287721 | BBG001SFB7Z7 | 311472 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| ISHARES TR | US CONSM STAPLES | 464287812 | BBG001SF7V89 | 1076039 | 4953 | SH |  | SOLE |  | 0 | 0 | 4953 |
| ISHARES TR | US HLTHCARE ETF | 464287762 | BBG001SFGXR4 | 5585444 | 21325 | SH |  | SOLE |  | 0 | 0 | 21325 |
| J P MORGAN EXCHANGE TRADED F | U S TECH LEADERS | 46654Q732 | BBG01J9W2923 | 9412325 | 32775 | SH |  | SOLE |  | 0 | 0 | 32775 |
| J P MORGAN EXCHANGE TRADED F | US QUALTY FCTR | 46641Q761 | BBG00J5DPW97 | 200133 | 641 | SH |  | SOLE |  | 0 | 0 | 641 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 10039809 | 64652 | SH |  | SOLE |  | 0 | 0 | 64652 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 8416025 | 299716 | SH |  | SOLE |  | 0 | 0 | 299716 |
| KKR REAL ESTATE FIN TR INC | COM | 48251K100 | BBG00GD4KVR1 | 3749060 | 8094 | SH |  | SOLE |  | 0 | 0 | 8094 |
| KRAFT HEINZ CO | COM | 500754106 | BBG005CPNTR1 | 4791647 | 33174 | SH |  | SOLE |  | 0 | 0 | 33174 |
| LANTRONIX INC | COM NEW | 516548203 | BBG001SFBNM6 | 1007060 | 7820 | SH |  | SOLE |  | 0 | 0 | 7820 |
| LEIDOS HOLDINGS INC | COM | 525327102 | BBG001SKW6M9 | 1698457 | 11611 | SH |  | SOLE |  | 0 | 0 | 11611 |
| LEMAITRE VASCULAR INC | COM | 525558201 | BBG001SK6CX3 | 242118 | 441 | SH |  | SOLE |  | 0 | 0 | 441 |
| MICRON TECHNOLOGY INC | COM | 595112103 | BBG001S6P675 | 480625 | 16579 | SH |  | SOLE |  | 0 | 0 | 16579 |
| MODERNA INC | COM | 60770K107 | BBG003PHHZV8 | 1340000 | 100000 | SH |  | SOLE |  | 0 | 0 | 100000 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 | BBG001S5T9L1 | 349200 | 2328 | SH |  | SOLE |  | 0 | 0 | 2328 |
| NASDAQ INC | COM | 631103108 | BBG001SKTBJ6 | 30789822 | 82824 | SH |  | SOLE |  | 0 | 0 | 82824 |
| NOVOCURE LTD | ORD SHS | G6674U108 | BBG009XW8QY0 | 467545 | 6500 | SH |  | SOLE |  | 0 | 0 | 6500 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 | BBG0136WM2Y9 | 702725 | 61427 | SH |  | SOLE |  | 0 | 0 | 61427 |
| NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | BBG001SCTFM1 | 7566881 | 98131 | SH |  | SOLE |  | 0 | 0 | 98131 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 15720197 | 58096 | SH |  | SOLE |  | 0 | 0 | 58096 |
| OKLO INC | COM CL A | 02156V109 | BBG0112CBMQ8 | 1640861 | 5429 | SH |  | SOLE |  | 0 | 0 | 5429 |
| ON HLDG AG | NAMEN AKT A | H5919C104 | BBG00LQK89G5 | 6819081 | 119696 | SH |  | SOLE |  | 0 | 0 | 119696 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 | BBG001T53796 | 7796556 | 45954 | SH |  | SOLE |  | 0 | 0 | 45954 |
| PAN AMERN SILVER CORP | COM | 697900108 | BBG001S5ZXR5 | 274368 | 2313 | SH |  | SOLE |  | 0 | 0 | 2313 |
| PARKER-HANNIFIN CORP | COM | 701094104 | BBG001S5V554 | 12577005 | 101199 | SH |  | SOLE |  | 0 | 0 | 101199 |
| PAYPAL HLDGS INC | COM | 70450Y103 | BBG0077VNXW5 | 1986600 | 52500 | SH |  | SOLE |  | 0 | 0 | 52500 |
| PIMCO ETF TR | 15+ YR US TIPS | 72201R304 | BBG001T5HFW7 | 1404239 | 28260 | SH |  | SOLE |  | 0 | 0 | 28260 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 2355348 | 10250 | SH |  | SOLE |  | 0 | 0 | 10250 |
| PURECYCLE TECHNOLOGIES INC | COM | 74623V103 | BBG00YRJF230 | 330382 | 4150 | SH |  | SOLE |  | 0 | 0 | 4150 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 | BBG001SB0LX9 | 336812 | 255 | SH |  | SOLE |  | 0 | 0 | 255 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 | BBG008NMBXP6 | 15970996 | 166105 | SH |  | SOLE |  | 0 | 0 | 166105 |
| ROUNDHILL ETF TRUST | BITCOIN COVERED | 77926X502 | BBG01L0P34M0 | 281400 | 4200 | SH |  | SOLE |  | 0 | 0 | 4200 |
| SALESFORCE INC | COM | 79466L302 | BBG001SDLP09 | 10104644 | 35225 | SH |  | SOLE |  | 0 | 0 | 35225 |
| SANOFI SA | SPONSORED ADR | 80105N105 | BBG001S5W768 | 9701676 | 156277 | SH |  | SOLE |  | 0 | 0 | 156277 |
| SAP SE | SPON ADR | 803054204 | BBG001S6RD41 | 991750 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 | BBG001S7SCQ6 | 1636034 | 26975 | SH |  | SOLE |  | 0 | 0 | 26975 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 1357750 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| SIMPLIFY EXCHANGE TRADED FUN | MBS ETF | 82889N525 | BBG01JXBTX20 | 789381 | 13900 | SH |  | SOLE |  | 0 | 0 | 13900 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 | BBG001S5W6H8 | 1686847 | 8185 | SH |  | SOLE |  | 0 | 0 | 8185 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 2344926 | 61034 | SH |  | SOLE |  | 0 | 0 | 61034 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 | BBG001SQDKG3 | 467051 | 1509 | SH |  | SOLE |  | 0 | 0 | 1509 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 | BBG001STKCW9 | 389235 | 4714 | SH |  | SOLE |  | 0 | 0 | 4714 |
| SPINNAKER ETF SERIES | SELECT STOXX EUR | 84858T772 | BBG01Q6GGV58 | 526101 | 7076 | SH |  | SOLE |  | 0 | 0 | 7076 |
| STARWOOD PPTY TR INC | COM | 85571B105 | BBG001T4JCN5 | 1909170 | 13500 | SH |  | SOLE |  | 0 | 0 | 13500 |
| STATE STR SPDR DOW JONES IND | UT SER 1 | 78467X109 | BBG001S8LH99 | 351048 | 1935 | SH |  | SOLE |  | 0 | 0 | 1935 |
| STATE STR SPDR S MIDCAP 40 | UTSER1 S | 78467Y107 | BBG001S63NQ1 | 15313224 | 47733 | SH |  | SOLE |  | 0 | 0 | 47733 |
| STRATASYS LTD | SHS | M85548101 | BBG002S5ZS58 | 718482 | 2126 | SH |  | SOLE |  | 0 | 0 | 2126 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 | BBG001S62NT9 | 9732993 | 101080 | SH |  | SOLE |  | 0 | 0 | 101080 |
| TIDAL TRUST II | ROUNDHILL GENER | 88636J600 | BBG01GNBGF39 | 1024960 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| TOYOTA MOTOR CORP | ADS | 892331307 | BBG001SDB327 | 824616 | 5200 | SH |  | SOLE |  | 0 | 0 | 5200 |
| UNILEVER PLC | SPON ADR NEW | 904767803 | BBG001S5X1K4 | 3184500 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| VANECK ETF TRUST | BIOTECH ETF | 92189F726 | BBG002DP3D21 | 14135464 | 21640 | SH |  | SOLE |  | 0 | 0 | 21640 |
| VANECK ETF TRUST | FALLEN ANGEL HG | 92189F437 | BBG002VZY7Y3 | 12048075 | 109141 | SH |  | SOLE |  | 0 | 0 | 109141 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | BBG001SR42Z0 | 7917209 | 89805 | SH |  | SOLE |  | 0 | 0 | 89805 |
| VANECK ETF TRUST | OIL SERVICES ETF | 92189H607 | BBG001SGYST1 | 5581303 | 12778 | SH |  | SOLE |  | 0 | 0 | 12778 |
| VANECK ETF TRUST | URANIUM AND NUCL | 92189F601 | BBG001SPSHC0 | 4003461 | 20405 | SH |  | SOLE |  | 0 | 0 | 20405 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 | BBG001SHTTS4 | 578400 | 80000 | SH |  | SOLE |  | 0 | 0 | 80000 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 | BBG001SHVTR2 | 341532 | 31800 | SH |  | SOLE |  | 0 | 0 | 31800 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | BBG001SHTB03 | 258918 | 6600 | SH |  | SOLE |  | 0 | 0 | 6600 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 351075 | 3958 | SH |  | SOLE |  | 0 | 0 | 3958 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | BBG001SHTV18 | 12137682 | 149009 | SH |  | SOLE |  | 0 | 0 | 149009 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 | BBG001T0SKD6 | 210840 | 8970 | SH |  | SOLE |  | 0 | 0 | 8970 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 | BBG001T62M74 | 7736409 | 403990 | SH |  | SOLE |  | 0 | 0 | 403990 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 2173864 | 8943 | SH |  | SOLE |  | 0 | 0 | 8943 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 | BBG001TJR1D8 | 258748 | 12125 | SH |  | SOLE |  | 0 | 0 | 12125 |
| WALLBOX NV | CLASS A ORD SHS | N94209124 | BBG012F741B3 | 5551280 | 482720 | SH |  | SOLE |  | 0 | 0 | 482720 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 | BBG001SHY2Q9 | 26445274 | 191120 | SH |  | SOLE |  | 0 | 0 | 191120 |
| WISDOMTREE TR | EMER MKT HIGH FD | 97717W315 | BBG001SV1SY8 | 1048478 | 171320 | SH |  | SOLE |  | 0 | 0 | 171320 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 | BBG001SHL470 | 22455974 | 265940 | SH |  | SOLE |  | 0 | 0 | 265940 |

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