# EDGAR Filing Document

**Accession Number:** 0001602237
**File Stem:** 0001602237-23-000002
**Filing Date:** 2023-2
**Character Count:** 17933
**Document Hash:** 2e814ff66e5e74142da6062b3da78af6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001602237-23-000002.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001602237-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IPG Investment Advisors LLC
- **CENTRAL INDEX KEY:** 0001602237
- **IRS NUMBER:** 271712885
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16114
- **FILM NUMBER:** 23632047

**BUSINESS ADDRESS:**
- **STREET 1:** 350 10TH AVENUE
- **STREET 2:** SUITE 1150
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92101
- **BUSINESS PHONE:** 619-326-1200

**MAIL ADDRESS:**
- **STREET 1:** 350 10TH AVENUE
- **STREET 2:** SUITE 1150
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92101

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** IPG Investment Advisors LLC<br>**Address:** 350 10TH AVENUE<br>SUITE 1150<br>SAN DIEGO, CA 92101

**Form 13F File Number:** 028-16114

**CRD Number (if applicable):** 000152990

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:** DARIUS LASHKARI<br>**Title:** CHIEF COMPLIANCE OFFICER<br>**Phone:** 619-326-1221

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

DARIUS LASHKARI  SAN DIEGO, CA  02-14-2023<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:** 140

**Form 13F Information Table Value Total:** $358531478

      (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 |
| AT INC | COM | 00206R102 |  | 305127 | 16574 | SH |  | SOLE |  | 16574 | 0 | 16574 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 291657 | 9336 | SH |  | SOLE |  | 9336 | 0 | 9336 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 59045 | 12250 | SH |  | SOLE |  | 12250 | 0 | 12250 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 201629 | 3113 | SH |  | SOLE |  | 3113 | 0 | 3113 |
| AIRBNB INC | COM CL A | 009066101 |  | 231021 | 2702 | SH |  | SOLE |  | 2702 | 0 | 2702 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 3062185 | 34762 | SH |  | SOLE |  | 34762 | 0 | 34762 |
| ALLIANCEBERNSTEIN HLDG L P | UNIT LTD PARTN | 01881G106 |  | 285787 | 8315 | SH |  | SOLE |  | 8315 | 0 | 8315 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 874967 | 9861 | SH |  | SOLE |  | 9861 | 0 | 9861 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3604284 | 40851 | SH |  | SOLE |  | 40851 | 0 | 40851 |
| AMAZON COM INC | COM | 023135106 |  | 11430552 | 136078 | SH |  | SOLE |  | 136078 | 0 | 136078 |
| APPLE INC | COM | 037833100 |  | 21528301 | 165692 | SH |  | SOLE |  | 165692 | 0 | 165692 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 500722 | 27110 | SH |  | SOLE |  | 27110 | 0 | 27110 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 223842 | 1957 | SH |  | SOLE |  | 1957 | 0 | 1957 |
| BANCO BRADESCO S A | SP ADR PFD NEW | 059460303 |  | 178240 | 61889 | SH |  | SOLE |  | 61889 | 0 | 61889 |
| BANCO BILBAO VIZCAYA ARGENTA | SPONSORED ADR | 05946K101 |  | 91983 | 15305 | SH |  | SOLE |  | 15305 | 0 | 15305 |
| BANCO SANTANDER S.A. | ADR | 05964H105 |  | 245691 | 83285 | SH |  | SOLE |  | 83285 | 0 | 83285 |
| BANK AMERICA CORP | COM | 060505104 |  | 1900061 | 57369 | SH |  | SOLE |  | 57369 | 0 | 57369 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 4424375 | 14323 | SH |  | SOLE |  | 14323 | 0 | 14323 |
| BLACKSTONE INC | COM | 09260D107 |  | 712595 | 9605 | SH |  | SOLE |  | 9605 | 0 | 9605 |
| BROADCOM INC | COM | 11135F101 |  | 1115464 | 1995 | SH |  | SOLE |  | 1995 | 0 | 1995 |
| CATERPILLAR INC | COM | 149123101 |  | 826722 | 3451 | SH |  | SOLE |  | 3451 | 0 | 3451 |
| CELULARITY INC | COM CL A | 151190105 |  | 60329 | 46767 | SH |  | SOLE |  | 46767 | 0 | 46767 |
| CEMEX SAB DE CV | SPON ADR NEW | 151290889 |  | 25694423 | 6344302 | SH |  | SOLE |  | 6344302 | 0 | 6344302 |
| CITIGROUP INC | COM NEW | 172967424 |  | 216018 | 4776 | SH |  | SOLE |  | 4776 | 0 | 4776 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 446001 | 977 | SH |  | SOLE |  | 977 | 0 | 977 |
| COURSERA INC | COM | 22266M104 |  | 686140 | 58000 | SH |  | SOLE |  | 58000 | 0 | 58000 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 1406569 | 13359 | SH |  | SOLE |  | 13359 | 0 | 13359 |
| CYTOMX THERAPEUTICS INC | COM | 23284F105 |  | 20000 | 12500 | SH |  | SOLE |  | 12500 | 0 | 12500 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 279277 | 8499 | SH |  | SOLE |  | 8499 | 0 | 8499 |
| DISNEY WALT CO | COM | 254687106 |  | 3714468 | 42754 | SH |  | SOLE |  | 42754 | 0 | 42754 |
| ETF SER SOLUTIONS | US GLB JETS | 26922A842 |  | 666513 | 39023 | SH |  | SOLE |  | 39023 | 0 | 39023 |
| EMBRAER S.A. | SPONSORED ADS | 29082A107 |  | 33180306 | 3035710 | SH |  | SOLE |  | 3035710 | 0 | 3035710 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3275895 | 27222 | SH |  | SOLE |  | 27222 | 0 | 27222 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 845357 | 10089 | SH |  | SOLE |  | 10089 | 0 | 10089 |
| GENERAL MTRS CO | COM | 37045V100 |  | 1216994 | 36177 | SH |  | SOLE |  | 36177 | 0 | 36177 |
| GLOBAL X FDS | CYBRSCURTY ETF | 37954Y384 |  | 518750 | 25000 | SH |  | SOLE |  | 25000 | 0 | 25000 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 2875464 | 8374 | SH |  | SOLE |  | 8374 | 0 | 8374 |
| GOODYEAR TIRE  RUBR CO | COM | 382550101 |  | 9285139 | 914792 | SH |  | SOLE |  | 914792 | 0 | 914792 |
| HOME DEPOT INC | COM | 437076102 |  | 1686377 | 5339 | SH |  | SOLE |  | 5339 | 0 | 5339 |
| HUMANA INC | COM | 444859102 |  | 317046 | 619 | SH |  | SOLE |  | 619 | 0 | 619 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 5561790 | 20887 | SH |  | SOLE |  | 20887 | 0 | 20887 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 1106694 | 7835 | SH |  | SOLE |  | 7835 | 0 | 7835 |
| INVESCO EXCHANGE TRADED FD T | DYNMC LEISURE | 46137V720 |  | 739123 | 20300 | SH |  | SOLE |  | 20300 | 0 | 20300 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 1419165 | 13333 | SH |  | SOLE |  | 13333 | 0 | 13333 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 390218 | 10296 | SH |  | SOLE |  | 10296 | 0 | 10296 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 1553300 | 14733 | SH |  | SOLE |  | 14733 | 0 | 14733 |
| ISHARES TR | GLOBAL ENERG ETF | 464287341 |  | 1288620 | 33050 | SH |  | SOLE |  | 33050 | 0 | 33050 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 489466 | 3374 | SH |  | SOLE |  | 3374 | 0 | 3374 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 468032 | 4701 | SH |  | SOLE |  | 4701 | 0 | 4701 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 1892038 | 19754 | SH |  | SOLE |  | 19754 | 0 | 19754 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 9521041 | 117298 | SH |  | SOLE |  | 117298 | 0 | 117298 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 381700 | 5659 | SH |  | SOLE |  | 5659 | 0 | 5659 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 404290 | 6240 | SH |  | SOLE |  | 6240 | 0 | 6240 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 215662 | 2929 | SH |  | SOLE |  | 2929 | 0 | 2929 |
| ISHARES TR | CRE U S REIT ETF | 464288521 |  | 353617 | 7151 | SH |  | SOLE |  | 7151 | 0 | 7151 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 3259897 | 29657 | SH |  | SOLE |  | 29657 | 0 | 29657 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 194709 | 9620 | SH |  | SOLE |  | 9620 | 0 | 9620 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 307515 | 6474 | SH |  | SOLE |  | 6474 | 0 | 6474 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 6918963 | 60714 | SH |  | SOLE |  | 60714 | 0 | 60714 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 349777 | 6425 | SH |  | SOLE |  | 6425 | 0 | 6425 |
| ISHARES TR | 0-5YR INVT GR CP | 46434V100 |  | 5922005 | 123736 | SH |  | SOLE |  | 123736 | 0 | 123736 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 359055 | 8781 | SH |  | SOLE |  | 8781 | 0 | 8781 |
| ISHARES TR | CORE MSCI EURO | 46434V738 |  | 610850 | 12860 | SH |  | SOLE |  | 12860 | 0 | 12860 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 1101229 | 8212 | SH |  | SOLE |  | 8212 | 0 | 8212 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 258555 | 4745 | SH |  | SOLE |  | 4745 | 0 | 4745 |
| JETBLUE AWYS CORP | COM | 477143101 |  | 12144524 | 1874155 | SH |  | SOLE |  | 1874155 | 0 | 1874155 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 200851 | 1137 | SH |  | SOLE |  | 1137 | 0 | 1137 |
| KRANESHARES TR | CSI CHI INTERNET | 500767306 |  | 225866 | 7479 | SH |  | SOLE |  | 7479 | 0 | 7479 |
| LILLY ELI  CO | COM | 532457108 |  | 299989 | 820 | SH |  | SOLE |  | 820 | 0 | 820 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 290435 | 597 | SH |  | SOLE |  | 597 | 0 | 597 |
| MAGNA INTL INC | COM | 559222401 |  | 7462987 | 132841 | SH |  | SOLE |  | 132841 | 0 | 132841 |
| MARATHON OIL CORP | COM | 565849106 |  | 234156 | 8650 | SH |  | SOLE |  | 8650 | 0 | 8650 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 2144799 | 6168 | SH |  | SOLE |  | 6168 | 0 | 6168 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 1577391 | 1864 | SH |  | SOLE |  | 1864 | 0 | 1864 |
| MICROSOFT CORP | COM | 594918104 |  | 8358926 | 34855 | SH |  | SOLE |  | 34855 | 0 | 34855 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 16050077 | 321130 | SH |  | SOLE |  | 321130 | 0 | 321130 |
| MONEYLION INC | CL A | 60938K106 |  | 9920 | 16000 | SH |  | SOLE |  | 16000 | 0 | 16000 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1842809 | 21675 | SH |  | SOLE |  | 21675 | 0 | 21675 |
| NIO INC | SPON ADS | 62914V106 |  | 161538 | 16568 | SH |  | SOLE |  | 16568 | 0 | 16568 |
| NETFLIX INC | COM | 64110L106 |  | 2214254 | 7509 | SH |  | SOLE |  | 7509 | 0 | 7509 |
| NIKE INC | CL B | 654106103 |  | 423225 | 3617 | SH |  | SOLE |  | 3617 | 0 | 3617 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 10585505 | 72434 | SH |  | SOLE |  | 72434 | 0 | 72434 |
| NUTRIEN LTD | COM | 67077M108 |  | 6286598 | 86165 | SH |  | SOLE |  | 86165 | 0 | 86165 |
| OATLY GROUP AB | SPONSORED ADS | 67421J108 |  | 29580 | 17000 | SH |  | SOLE |  | 17000 | 0 | 17000 |
| ONCTERNAL THERAPEUTICS INC | COM | 68236P107 |  | 23691 | 23691 | SH |  | SOLE |  | 23691 | 0 | 23691 |
| OPKO HEALTH INC | COM | 68375N103 |  | 18750 | 15000 | SH |  | SOLE |  | 15000 | 0 | 15000 |
| ORCHARD THERAPEUTICS PLC | SPON ADS | 68570P101 |  | 5231 | 14100 | SH |  | SOLE |  | 14100 | 0 | 14100 |
| OWL ROCK CAPITAL CORPORATION | COM | 69121K104 |  | 629417 | 54495 | SH |  | SOLE |  | 54495 | 0 | 54495 |
| PACWEST BANCORP DEL | COM | 695263103 |  | 294449 | 12830 | SH |  | SOLE |  | 12830 | 0 | 12830 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1508706 | 10812 | SH |  | SOLE |  | 10812 | 0 | 10812 |
| PAN AMERN SILVER CORP | COM | 697900108 |  | 196080 | 12000 | SH |  | SOLE |  | 12000 | 0 | 12000 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 2560501 | 35952 | SH |  | SOLE |  | 35952 | 0 | 35952 |
| PHASEBIO PHARMACEUTICALS INC | COM | 717224109 |  | 864 | 28700 | SH |  | SOLE |  | 28700 | 0 | 28700 |
| PLBY GROUP INC | COM | 72814P109 |  | 28683 | 10430 | SH |  | SOLE |  | 10430 | 0 | 10430 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 390570 | 2577 | SH |  | SOLE |  | 2577 | 0 | 2577 |
| PROSHARES TR | ULTRAPRO SHORT S | 74347B110 |  | 269920 | 16000 | SH |  | SOLE |  | 16000 | 0 | 16000 |
| PROSHARES TR | PSHS ULTSH 20YRS | 74347B201 |  | 820625 | 25250 | SH |  | SOLE |  | 25250 | 0 | 25250 |
| PROSHARES TR | PSHS ULTRA QQQ | 74347R206 |  | 672768 | 19200 | SH |  | SOLE |  | 19200 | 0 | 19200 |
| QUALCOMM INC | COM | 747525103 |  | 1114792 | 10140 | SH |  | SOLE |  | 10140 | 0 | 10140 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 22486164 | 58798 | SH |  | SOLE |  | 58798 | 0 | 58798 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2550877 | 15037 | SH |  | SOLE |  | 15037 | 0 | 15037 |
| SPDR SER TR | PRTFLO S GW | 78464A409 |  | 356654 | 7039 | SH |  | SOLE |  | 7039 | 0 | 7039 |
| SPDR SER TR | S REGL BKG | 78464A698 |  | 552156 | 9400 | SH |  | SOLE |  | 9400 | 0 | 9400 |
| SPDR SER TR | S RETAIL ETF | 78464A714 |  | 613930 | 10156 | SH |  | SOLE |  | 10156 | 0 | 10156 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 358499 | 1082 | SH |  | SOLE |  | 1082 | 0 | 1082 |
| SPDR SER TR | S OILGAS EXP | 78468R556 |  | 218223 | 1606 | SH |  | SOLE |  | 1606 | 0 | 1606 |
| SPDR SER TR | BLOOMBERG 1-3 MO | 78468R663 |  | 9406500 | 102837 | SH |  | SOLE |  | 102837 | 0 | 102837 |
| SALESFORCE INC | COM | 79466L302 |  | 1161356 | 8759 | SH |  | SOLE |  | 8759 | 0 | 8759 |
| SCPHARMACEUTICALS INC | COM | 810648105 |  | 102531 | 14300 | SH |  | SOLE |  | 14300 | 0 | 14300 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 458901 | 3378 | SH |  | SOLE |  | 3378 | 0 | 3378 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 1067183 | 14315 | SH |  | SOLE |  | 14315 | 0 | 14315 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 481767 | 3730 | SH |  | SOLE |  | 3730 | 0 | 3730 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 2634684 | 30121 | SH |  | SOLE |  | 30121 | 0 | 30121 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 529211 | 15474 | SH |  | SOLE |  | 15474 | 0 | 15474 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 331259 | 2662 | SH |  | SOLE |  | 2662 | 0 | 2662 |
| SILVERBOW RES INC | COM | 82836G102 |  | 254520 | 9000 | SH |  | SOLE |  | 9000 | 0 | 9000 |
| SNOWFLAKE INC | CL A | 833445109 |  | 401194 | 2795 | SH |  | SOLE |  | 2795 | 0 | 2795 |
| SUNOCO LP/SUNOCO FIN CORP | COM UT REP LP | 86765K109 |  | 393072 | 9120 | SH |  | SOLE |  | 9120 | 0 | 9120 |
| SUNRUN INC | COM | 86771W105 |  | 589931 | 24560 | SH |  | SOLE |  | 24560 | 0 | 24560 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 258629 | 3472 | SH |  | SOLE |  | 3472 | 0 | 3472 |
| TARGET CORP | COM | 87612E106 |  | 380201 | 2551 | SH |  | SOLE |  | 2551 | 0 | 2551 |
| TESLA INC | COM | 88160R101 |  | 989998 | 8037 | SH |  | SOLE |  | 8037 | 0 | 8037 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 214769 | 390 | SH |  | SOLE |  | 390 | 0 | 390 |
| TRILOGY METALS INC NEW | COM | 89621C105 |  | 8002 | 14850 | SH |  | SOLE |  | 14850 | 0 | 14850 |
| 23ANDME HOLDING CO | CLASS A COM | 90138Q108 |  | 287099 | 132916 | SH |  | SOLE |  | 132916 | 0 | 132916 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1674196 | 67699 | SH |  | SOLE |  | 67699 | 0 | 67699 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 845637 | 1595 | SH |  | SOLE |  | 1595 | 0 | 1595 |
| UNITY SOFTWARE INC | COM | 91332U101 |  | 7786058 | 272335 | SH |  | SOLE |  | 272335 | 0 | 272335 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 1282791 | 16550 | SH |  | SOLE |  | 16550 | 0 | 16550 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 558631 | 1590 | SH |  | SOLE |  | 1590 | 0 | 1590 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 |  | 9219147 | 546158 | SH |  | SOLE |  | 546158 | 0 | 546158 |
| WALMART INC | COM | 931142103 |  | 814584 | 5745 | SH |  | SOLE |  | 5745 | 0 | 5745 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 16090176 | 1697276 | SH |  | SOLE |  | 1697276 | 0 | 1697276 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 528058 | 12789 | SH |  | SOLE |  | 12789 | 0 | 12789 |
| WYNN RESORTS LTD | COM | 983134107 |  | 471893 | 5722 | SH |  | SOLE |  | 5722 | 0 | 5722 |
| NORWEGIAN CRUISE LINE HLDG L | SHS | G66721104 |  | 196293 | 16037 | SH |  | SOLE |  | 16037 | 0 | 16037 |
| SEAGATE TECHNOLOGY HLDNGS PL | ORD SHS | G7997R103 |  | 8737469 | 166080 | SH |  | SOLE |  | 166080 | 0 | 166080 |
| ZK INTL GROUP CO LTD | SHS | G9892K100 |  | 6633 | 16278 | SH |  | SOLE |  | 16278 | 0 | 16278 |
| TRANSOCEAN LTD | REG SHS | H8817H100 |  | 521208 | 114300 | SH |  | SOLE |  | 114300 | 0 | 114300 |
| INFLARX NV | COM | N44821101 |  | 80290 | 25900 | SH |  | SOLE |  | 25900 | 0 | 25900 |

---