# EDGAR Filing Document

**Accession Number:** 0001697323
**File Stem:** 0001636587-25-000061
**Filing Date:** 2025-11
**Character Count:** 20506
**Document Hash:** f4936a5f0e8a4bce62c9c29520a39e01
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001636587-25-000061.hdr.sgml**: 20251117

**ACCESSION NUMBER**: 0001636587-25-000061

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251117

**DATE AS OF CHANGE**: 20251117

**EFFECTIVENESS DATE**: 20251117

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Greenline Partners, LLC
- **CENTRAL INDEX KEY:** 0001697323

**ORGANIZATION NAME:**
- **EIN:** 455129009
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18839
- **FILM NUMBER:** 251490239

**BUSINESS ADDRESS:**
- **STREET 1:** 521 FIFTH AVENUE
- **STREET 2:** SUITE 1706
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10175
- **BUSINESS PHONE:** 646-470-8714

**MAIL ADDRESS:**
- **STREET 1:** 521 FIFTH AVENUE
- **STREET 2:** SUITE 1706
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10175

### 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:** Greenline Partners LLC<br>**Address:** 521 FIFTH AVENUE<br>SUITE 1706<br>NEW YORK, NY 10175

**Form 13F File Number:** 028-18839

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:** Ivan Lucuk<br>**Title:** Chief Compliance Officer<br>**Phone:** 2035902261

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

Ivan Lucuk  New York, NY  11-17-2025<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:** 167

**Form 13F Information Table Value Total:** $822884656

      (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 |  | 211859 | 915 | SH |  | OTR |  | 0 | 915 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 240802 | 1040 | SH |  | SOLE |  | 1040 | 0 | 0 |
| ABRDN PHYSICAL GOLD SHARES ETF | ETF | 00326A104 |  | 259731 | 7056 | SH |  | SOLE |  | 7056 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 289755 | 1719 | SH |  | SOLE |  | 1719 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 315207 | 1870 | SH |  | OTR |  | 0 | 1870 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 5291119 | 65258 | SH |  | SOLE |  | 65258 | 0 | 0 |
| ALPHABET INC CAP STK CL C | COM | 02079K107 |  | 17856842 | 73319 | SH |  | SOLE |  | 73319 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 357847 | 5417 | SH |  | SOLE |  | 5417 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 9734197 | 44333 | SH |  | SOLE |  | 44333 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 1076029 | 3813 | SH |  | SOLE |  | 3813 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 13043167 | 51224 | SH |  | SOLE |  | 51224 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1040014 | 17409 | SH |  | SOLE |  | 17409 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 632181 | 22386 | SH |  | SOLE |  | 22386 | 0 | 0 |
| AUTOMATIC DATA PROCESSING INC | COM | 053015103 |  | 1744564 | 5944 | SH |  | SOLE |  | 5944 | 0 | 0 |
| AVANTIS INTERNATIONAL SMALL CAP VALUE ETF | ETF | 025072802 |  | 33015796 | 370839 | SH |  | SOLE |  | 370839 | 0 | 0 |
| AVANTIS U.S. SMALL CAP VALUE ETF | ETF | 025072877 |  | 28943025 | 290797 | SH |  | SOLE |  | 290797 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 550981 | 10680 | SH |  | SOLE |  | 10680 | 0 | 0 |
| BARRICK MNG CORP COM SHS | COM | 06849F108 |  | 208024 | 6348 | SH |  | OTR |  | 0 | 6348 | 0 |
| BARRICK MNG CORP COM SHS | COM | 06849F108 |  | 590286 | 18013 | SH |  | SOLE |  | 18013 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 3022506 | 39448 | SH |  | SOLE |  | 39448 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | COM | 084670702 |  | 32055205 | 63761 | SH |  | SOLE |  | 63761 | 0 | 0 |
| BHP GROUP LTD SPONSORED ADS | ADR | 088606108 |  | 5585760 | 100193 | SH |  | SOLE |  | 100193 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 4869839 | 4177 | SH |  | SOLE |  | 4177 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 880081 | 163 | SH |  | SOLE |  | 163 | 0 | 0 |
| BP PLC SPONSORED ADR | ADR | 055622104 |  | 313207 | 9089 | SH |  | SOLE |  | 9089 | 0 | 0 |
| CANADIAN NAT RES LTD COM | COM | 136385101 |  | 4588401 | 143567 | SH |  | SOLE |  | 143567 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 592620 | 1242 | SH |  | SOLE |  | 1242 | 0 | 0 |
| CHENIERE ENERGY INC COM NEW | COM NEW | 16411R208 |  | 17155723 | 73009 | SH |  | SOLE |  | 73009 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 4827345 | 31086 | SH |  | SOLE |  | 31086 | 0 | 0 |
| CHUBB LIMITED COM | COM | H1467J104 |  | 5464925 | 19362 | SH |  | SOLE |  | 19362 | 0 | 0 |
| CONOCOPHILLIPS COM | COM | 20825C104 |  | 198544 | 2099 | SH |  | OTR |  | 0 | 2099 | 0 |
| CONOCOPHILLIPS COM | COM | 20825C104 |  | 4060370 | 42926 | SH |  | SOLE |  | 42926 | 0 | 0 |
| CONSUMER STAPLES SELECT SECTOR SPDR FUND | ETF | 81369Y308 |  | 249844 | 3188 | SH |  | SOLE |  | 3188 | 0 | 0 |
| COSTCO WHSL CORP NEW COM | COM | 22160K105 |  | 2718575 | 2937 | SH |  | SOLE |  | 2937 | 0 | 0 |
| CREDIT ACCEP CORP MICH COM | COM | 225310101 |  | 6280209 | 13450 | SH |  | SOLE |  | 13450 | 0 | 0 |
| DEERE  CO COM | COM | 244199105 |  | 2733043 | 5977 | SH |  | SOLE |  | 5977 | 0 | 0 |
| DIAGEO PLC SPON ADR NEW | ADR | 25243Q205 |  | 1502450 | 15744 | SH |  | SOLE |  | 15744 | 0 | 0 |
| DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF | ETF | 25434V781 |  | 8042170 | 225334 | SH |  | SOLE |  | 225334 | 0 | 0 |
| DIMENSIONAL U.S. TARGETED VALUE ETF | ETF | 25434V609 |  | 123903 | 2129 | SH |  | OTR |  | 0 | 2129 | 0 |
| DIMENSIONAL U.S. TARGETED VALUE ETF | ETF | 25434V609 |  | 296751 | 5098 | SH |  | SOLE |  | 5098 | 0 | 0 |
| DIMENSIONAL US SMALL CAP VALUE ETF | ETF | 25434V815 |  | 12309471 | 386604 | SH |  | SOLE |  | 386604 | 0 | 0 |
| EBAY INC. COM | COM | 278642103 |  | 1057476 | 11627 | SH |  | SOLE |  | 11627 | 0 | 0 |
| ENBRIDGE INC COM | COM | 29250N105 |  | 315325 | 6249 | SH |  | OTR |  | 0 | 6249 | 0 |
| ENBRIDGE INC COM | COM | 29250N105 |  | 17180419 | 340476 | SH |  | SOLE |  | 340476 | 0 | 0 |
| ENERGY SELECT SECTOR SPDR FUND | ETF | 81369Y506 |  | 2569329 | 28759 | SH |  | SOLE |  | 28759 | 0 | 0 |
| ENERGY TRANSFER L P COM UT LTD PTN | Stock | 29273V100 |  | 468914 | 27326 | SH |  | SOLE |  | 27326 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L P COM | COM | 293792107 |  | 2377521 | 76032 | SH |  | SOLE |  | 76032 | 0 | 0 |
| EOG RES INC COM | COM | 26875P101 |  | 1193405 | 10644 | SH |  | SOLE |  | 10644 | 0 | 0 |
| EXXON MOBIL CORP COM | COM | 30231G102 |  | 2291982 | 20328 | SH |  | SOLE |  | 20328 | 0 | 0 |
| FRANCO NEV CORP COM | COM | 351858105 |  | 172309 | 773 | SH |  | OTR |  | 0 | 773 | 0 |
| FRANCO NEV CORP COM | COM | 351858105 |  | 2188307 | 9817 | SH |  | SOLE |  | 9817 | 0 | 0 |
| FRANKLIN FTSE SOUTH KOREA ETF | ETF | 35473P710 |  | 207931 | 7704 | SH |  | SOLE |  | 7704 | 0 | 0 |
| FREEPORT-MCMORAN INC CL B | COM | 35671D857 |  | 4671416 | 119108 | SH |  | SOLE |  | 119108 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1454135 | 1826 | SH |  | SOLE |  | 1826 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 5053530 | 12472 | SH |  | SOLE |  | 12472 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 2102646 | 62672 | SH |  | SOLE |  | 62672 | 0 | 0 |
| ISHARES 0-5 YEAR TIPS BOND ETF | ETF | 46429B747 |  | 10509025 | 101674 | SH |  | SOLE |  | 101674 | 0 | 0 |
| ISHARES BIOTECHNOLOGY ETF | ETF | 464287556 |  | 2432201 | 16847 | SH |  | SOLE |  | 16847 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | ETF | 46438F101 |  | 217815 | 3351 | SH |  | SOLE |  | 3351 | 0 | 0 |
| ISHARES CORE HIGH DIVIDEND ETF | ETF | 46429B663 |  | 428085 | 3496 | SH |  | SOLE |  | 3496 | 0 | 0 |
| ISHARES CORE MSCI EMERGING MARKETS ETF | ETF | 46434G103 |  | 1056698 | 16030 | SH |  | SOLE |  | 16030 | 0 | 0 |
| ISHARES CORE MSCI TOTAL INTERNATIONAL STOCK ETF | ETF | 46432F834 |  | 585079 | 7085 | SH |  | SOLE |  | 7085 | 0 | 0 |
| ISHARES CORE S 500 ETF | ETF | 464287200 |  | 1925576 | 2877 | SH |  | SOLE |  | 2877 | 0 | 0 |
| ISHARES CORE S U.S. GROWTH ETF | ETF | 464287671 |  | 1972835 | 11990 | SH |  | SOLE |  | 11990 | 0 | 0 |
| ISHARES CORE S U.S. GROWTH ETF | ETF | 464287671 |  | 2564191 | 15584 | SH |  | OTR |  | 0 | 15584 | 0 |
| ISHARES CORE S US VALUE ETF | ETF | 464287663 |  | 1610494 | 16113 | SH |  | OTR |  | 0 | 16113 | 0 |
| ISHARES CORE S US VALUE ETF | ETF | 464287663 |  | 1953523 | 19545 | SH |  | SOLE |  | 19545 | 0 | 0 |
| ISHARES GOLD TRUST | ETF | 464285204 |  | 9397882 | 129145 | SH |  | SOLE |  | 129145 | 0 | 0 |
| ISHARES GOLD TRUST MICRO ETF OF BENEF INTEREST | ETF | 46436F103 |  | 4555821 | 118333 | SH |  | SOLE |  | 118333 | 0 | 0 |
| ISHARES IBONDS DEC 2025 TERM CORPORATE ETF | ETF | 46434VBD1 |  | 2251986 | 89400 | SH |  | SOLE |  | 89400 | 0 | 0 |
| ISHARES IBONDS DEC 2026 TERM CORPORATE ETF | ETF | 46435GAA0 |  | 4511951 | 185677 | SH |  | SOLE |  | 185677 | 0 | 0 |
| ISHARES MSCI EAFE ETF | ETF | 464287465 |  | 1955915 | 20948 | SH |  | OTR |  | 0 | 20948 | 0 |
| ISHARES MSCI GLOBAL METALS  MINING PRODUCERS ETF | ETF | 46434G848 |  | 23244865 | 522357 | SH |  | SOLE |  | 522357 | 0 | 0 |
| ISHARES RUSSELL 3000 ETF | ETF | 464287689 |  | 5018681 | 13244 | SH |  | SOLE |  | 13244 | 0 | 0 |
| ISHARES U.S. TREASURY BOND ETF | ETF | 46429B267 |  | 796785 | 34463 | SH |  | SOLE |  | 34463 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 5629166 | 30359 | SH |  | SOLE |  | 30359 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 265277 | 841 | SH |  | OTR |  | 0 | 841 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 4102167 | 13005 | SH |  | SOLE |  | 13005 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 1661151 | 12783 | SH |  | SOLE |  | 12783 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 609175 | 2424 | SH |  | SOLE |  | 2424 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 753876 | 2266 | SH |  | SOLE |  | 2266 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 6986021 | 3655 | SH |  | SOLE |  | 3655 | 0 | 0 |
| MASTERCARD INCORPORATED CL A | COM | 57636Q104 |  | 5504374 | 9677 | SH |  | SOLE |  | 9677 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 112743 | 371 | SH |  | OTR |  | 0 | 371 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 150426 | 495 | SH |  | SOLE |  | 495 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 237102 | 2825 | SH |  | SOLE |  | 2825 | 0 | 0 |
| META PLATFORMS INC CL A | COM | 30303M102 |  | 9117328 | 12415 | SH |  | SOLE |  | 12415 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 12599652 | 24326 | SH |  | SOLE |  | 24326 | 0 | 0 |
| MPLX LP COM UNIT REP LTD | COM | 55336V100 |  | 891957 | 17857 | SH |  | SOLE |  | 17857 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 183964 | 2182 | SH |  | OTR |  | 0 | 2182 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 655173 | 7771 | SH |  | SOLE |  | 7771 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2653914 | 14224 | SH |  | SOLE |  | 14224 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 1004333 | 125 | SH |  | SOLE |  | 125 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 368786 | 7805 | SH |  | SOLE |  | 7805 | 0 | 0 |
| PAY  SOFTWARE INC | COM | 70432V102 |  | 5454309 | 26205 | SH |  | SOLE |  | 26205 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 1345395 | 52802 | SH |  | SOLE |  | 52802 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 594625 | 3666 | SH |  | SOLE |  | 3666 | 0 | 0 |
| PIMCO 15 YEAR US TIPS INDEX EXCHANGE-TRADED FUND | ETF | 72201R304 |  | 1566345 | 29398 | SH |  | SOLE |  | 29398 | 0 | 0 |
| PLAINS ALL AMERN PIPELINE L P UNIT LTD PARTN | COM | 726503105 |  | 469286 | 27508 | SH |  | SOLE |  | 27508 | 0 | 0 |
| POSCO HOLDINGS INC SPONSORED ADR | ADR | 693483109 |  | 2154709 | 43786 | SH |  | SOLE |  | 43786 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 961542 | 6258 | SH |  | SOLE |  | 6258 | 0 | 0 |
| RIO TINTO PLC SPONSORED ADR | ADR | 767204100 |  | 277044 | 4197 | SH |  | OTR |  | 0 | 4197 | 0 |
| RIO TINTO PLC SPONSORED ADR | ADR | 767204100 |  | 6525287 | 98853 | SH |  | SOLE |  | 98853 | 0 | 0 |
| ROYAL GOLD INC COM | COM | 780287108 |  | 1377784 | 6869 | SH |  | SOLE |  | 6869 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 238580 | 2499 | SH |  | OTR |  | 0 | 2499 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 2084778 | 21837 | SH |  | SOLE |  | 21837 | 0 | 0 |
| SCHWAB EMERGING MARKETS EQUITY ETF | ETF | 808524706 |  | 1425012 | 42703 | SH |  | SOLE |  | 42703 | 0 | 0 |
| SCHWAB INTERMEDIATE-TERM US TREASURY ETF | ETF | 808524854 |  | 3110089 | 123760 | SH |  | SOLE |  | 123760 | 0 | 0 |
| SCHWAB INTERNATIONAL EQUITY ETF | ETF | 808524805 |  | 933547 | 40101 | SH |  | SOLE |  | 40101 | 0 | 0 |
| SCHWAB SHORT-TERM US TREASURY ETF | ETF | 808524862 |  | 7573492 | 310389 | SH |  | SOLE |  | 310389 | 0 | 0 |
| SCHWAB U.S. BROAD MARKET ETF | ETF | 808524102 |  | 641944 | 24969 | SH |  | SOLE |  | 24969 | 0 | 0 |
| SCHWAB US DIVIDEND EQUITY ETF | ETF | 808524797 |  | 162653 | 5958 | SH |  | SOLE |  | 5958 | 0 | 0 |
| SCHWAB US TIPS ETF | ETF | 808524870 |  | 959366 | 35598 | SH |  | OTR |  | 0 | 35598 | 0 |
| SCHWAB US TIPS ETF | ETF | 808524870 |  | 15931856 | 591163 | SH |  | SOLE |  | 591163 | 0 | 0 |
| SEMPRA | COM | 816851109 |  | 551937 | 6134 | SH |  | SOLE |  | 6134 | 0 | 0 |
| SHELL PLC SPON ADS | ADR | 780259305 |  | 275462 | 3851 | SH |  | SOLE |  | 3851 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 1703961 | 49577 | SH |  | SOLE |  | 49577 | 0 | 0 |
| SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B | ADR | 833635105 |  | 362923 | 8444 | SH |  | SOLE |  | 8444 | 0 | 0 |
| SOUTH BOW CORP | COM | 83671M105 |  | 32816 | 1160 | SH |  | OTR |  | 0 | 1160 | 0 |
| SOUTH BOW CORP | COM | 83671M105 |  | 1384032 | 48923 | SH |  | SOLE |  | 48923 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 12705619 | 104694 | SH |  | SOLE |  | 104694 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 389808 | 3212 | SH |  | OTR |  | 0 | 3212 | 0 |
| SPDR GOLD MINISHARES TRUST OF BENEFICIAL INTEREST | ETF | 98149E303 |  | 1278473 | 16723 | SH |  | OTR |  | 0 | 16723 | 0 |
| SPDR GOLD MINISHARES TRUST OF BENEFICIAL INTEREST | ETF | 98149E303 |  | 55037425 | 719914 | SH |  | SOLE |  | 719914 | 0 | 0 |
| SPDR GOLD SHARES | ETF | 78463V107 |  | 1794768 | 5049 | SH |  | SOLE |  | 5049 | 0 | 0 |
| STATE STREET SPDR S BIOTECH ETF | ETF | 78464A870 |  | 2876842 | 28711 | SH |  | SOLE |  | 28711 | 0 | 0 |
| STATE STREET SPDR S METALS  MINING ETF | ETF | 78464A755 |  | 3899070 | 41840 | SH |  | SOLE |  | 41840 | 0 | 0 |
| SUNCOR ENERGY INC | NEW COM | 867224107 |  | 887375 | 21224 | SH |  | SOLE |  | 21224 | 0 | 0 |
| TC ENERGY CORP | COM | 87807B107 |  | 315687 | 5802 | SH |  | OTR |  | 0 | 5802 | 0 |
| TC ENERGY CORP | COM | 87807B107 |  | 16785539 | 308501 | SH |  | SOLE |  | 308501 | 0 | 0 |
| TJX COS INC | NEW COM | 872540109 |  | 479439 | 3317 | SH |  | SOLE |  | 3317 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 |  | 2608453 | 43700 | SH |  | SOLE |  | 43700 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 280808 | 1188 | SH |  | SOLE |  | 1188 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 355838 | 4260 | SH |  | SOLE |  | 4260 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2152255 | 6233 | SH |  | SOLE |  | 6233 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 3651143 | 336201 | SH |  | SOLE |  | 336201 | 0 | 0 |
| VANECK GOLD MINERS ETF | ETF | 92189F106 |  | 134158 | 1756 | SH |  | SOLE |  | 1756 | 0 | 0 |
| VANECK SEMICONDUCTOR ETF | ETF | 92189F676 |  | 374335 | 1147 | SH |  | SOLE |  | 1147 | 0 | 0 |
| VANGUARD 0-3 MONTH TREASURY BILL ETF | ETF | 922040845 |  | 15978508 | 211314 | SH |  | SOLE |  | 211314 | 0 | 0 |
| VANGUARD CONSUMER STAPLES ETF | ETF | 92204A207 |  | 5728679 | 26803 | SH |  | SOLE |  | 26803 | 0 | 0 |
| VANGUARD DIVIDEND APPRECIATION ETF | ETF | 921908844 |  | 350443 | 1624 | SH |  | SOLE |  | 1624 | 0 | 0 |
| VANGUARD ENERGY ETF | ETF | 92204A306 |  | 13485278 | 107145 | SH |  | SOLE |  | 107145 | 0 | 0 |
| VANGUARD FTSE DEVELOPED MARKETS ETF | ETF | 921943858 |  | 1234412 | 20601 | SH |  | SOLE |  | 20601 | 0 | 0 |
| VANGUARD FTSE EMERGING MARKETS ETF | ETF | 922042858 |  | 24240404 | 447405 | SH |  | SOLE |  | 447405 | 0 | 0 |
| VANGUARD FTSE EUROPE ETF | ETF | 922042874 |  | 15319924 | 191979 | SH |  | SOLE |  | 191979 | 0 | 0 |
| VANGUARD FTSE PACIFIC ETF | ETF | 922042866 |  | 22201648 | 252751 | SH |  | SOLE |  | 252751 | 0 | 0 |
| VANGUARD HEALTH CARE ETF | ETF | 92204A504 |  | 219102 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| VANGUARD HIGH DIVIDEND YIELD INDEX ETF | ETF | 921946406 |  | 295192 | 2094 | SH |  | SOLE |  | 2094 | 0 | 0 |
| VANGUARD MEGA CAP ETF | ETF | 921910873 |  | 679547 | 2784 | SH |  | SOLE |  | 2784 | 0 | 0 |
| VANGUARD MID-CAP ETF | ETF | 922908629 |  | 807785 | 2750 | SH |  | SOLE |  | 2750 | 0 | 0 |
| VANGUARD REAL ESTATE ETF | ETF | 922908553 |  | 198016 | 2166 | SH |  | OTR |  | 0 | 2166 | 0 |
| VANGUARD S 500 ETF | ETF | 922908363 |  | 12512761 | 20433 | SH |  | SOLE |  | 20433 | 0 | 0 |
| VANGUARD SHORT-TERM CORPORATE BOND ETF | ETF | 92206C409 |  | 3718344 | 46520 | SH |  | SOLE |  | 46520 | 0 | 0 |
| VANGUARD SMALL CAP VALUE ETF | ETF | 922908611 |  | 555169 | 2660 | SH |  | SOLE |  | 2660 | 0 | 0 |
| VANGUARD TOTAL INTERNATIONAL STOCK ETF | ETF | 921909768 |  | 458978 | 6248 | SH |  | OTR |  | 0 | 6248 | 0 |
| VANGUARD TOTAL INTERNATIONAL STOCK ETF | ETF | 921909768 |  | 41092036 | 559380 | SH |  | SOLE |  | 559380 | 0 | 0 |
| VANGUARD TOTAL STOCK MARKET ETF | ETF | 922908769 |  | 56184062 | 171204 | SH |  | SOLE |  | 171204 | 0 | 0 |
| VANGUARD TOTAL WORLD STOCK ETF | ETF | 922042742 |  | 4473126 | 32461 | SH |  | SOLE |  | 32461 | 0 | 0 |
| VANGUARD UTILITIES ETF | ETF | 92204A876 |  | 7107877 | 37526 | SH |  | SOLE |  | 37526 | 0 | 0 |
| VERISIGN INC COM | COM | 92343E102 |  | 232882 | 833 | SH |  | SOLE |  | 833 | 0 | 0 |
| VISA INC COM CL A | CL A | 92826C839 |  | 6016140 | 17623 | SH |  | SOLE |  | 17623 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 287537 | 2790 | SH |  | OTR |  | 0 | 2790 | 0 |
| WALMART INC | COM | 931142103 |  | 5791251 | 56193 | SH |  | SOLE |  | 56193 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 483372 | 4322 | SH |  | OTR |  | 0 | 4322 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 1636778 | 14635 | SH |  | SOLE |  | 14635 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 464736 | 7336 | SH |  | OTR |  | 0 | 7336 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 9971854 | 157409 | SH |  | SOLE |  | 157409 | 0 | 0 |

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