# EDGAR Filing Document

**Accession Number:** 0001535128
**File Stem:** 0001535128-26-000002
**Filing Date:** 2026-2
**Character Count:** 33512
**Document Hash:** 36d95826f2b739918c4b6fbfdb3a588f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001535128-26-000002.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001535128-26-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260209

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SBI Okasan Asset Management Co.Ltd.
- **CENTRAL INDEX KEY:** 0001535128

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** M0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26156
- **FILM NUMBER:** 26612887

**BUSINESS ADDRESS:**
- **STREET 1:** 2-2-1 KYOBASHI, CHUO-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 104-0031
- **BUSINESS PHONE:** 813.3516.1236

**MAIL ADDRESS:**
- **STREET 1:** 2-2-1 KYOBASHI, CHUO-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 104-0031

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Okasan Asset Management Co.Ltd.
- **DATE OF NAME CHANGE:** 20111117

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** SBI Okasan Asset Management Co.Ltd.<br>**Address:** 2-2-1 KYOBASHI CHUO-KU<br>TOKYO, M0 104-0031

**Form 13F File Number:** 028-26156

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:** Akira Shinozaki<br>**Title:** Head of Compliance  RiskManagement Dept.<br>**Phone:** 81 3 3516 1206

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

Akira Shinozaki  Tokyo, M0  02-09-2026<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:** 308

**Form 13F Information Table Value Total:** $1815130566

      (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 |
| AAON INC | COM PAR $0.004 | 000360206 |  | 151400 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 1144798 | 9190 | SH |  | SOLE |  | 9190 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 969528 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| ACCENTURE PLC-CL A | SHS CLASS A | G1151C101 |  | 705484 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| ADVANCED MICRO DEVICES | COM | 007903107 |  | 95300 | 442 | SH |  | SOLE |  | 442 | 0 | 0 |
| AECOM | COM | 00766T100 |  | 194540 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| AGILYSYS INC | COM | 00847J105 |  | 440640 | 3600 | SH |  | SOLE |  | 3600 | 0 | 0 |
| AIR PRODUCTS  CHEMICALS INC | COM | 009158106 |  | 867475 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| ALARM.COM HOLDINGS INC | COM | 011642105 |  | 694388 | 13400 | SH |  | SOLE |  | 13400 | 0 | 0 |
| ALLEGION PLC | ORD SHS | G0176J109 |  | 76964 | 477 | SH |  | SOLE |  | 477 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 719620 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 1312118 | 3290 | SH |  | SOLE |  | 3290 | 0 | 0 |
| ALPHABET INC-CL A | CAP STK CL A | 02079K305 |  | 13788801 | 43975 | SH |  | SOLE |  | 43975 | 0 | 0 |
| ALPHABET INC-CL C | CAP STK CL C | 02079K107 |  | 547982 | 1743 | SH |  | SOLE |  | 1743 | 0 | 0 |
| AMAZON.COM INC | COM | 023135106 |  | 6018735 | 25935 | SH |  | SOLE |  | 25935 | 0 | 0 |
| AMBARELLA INC | SHS | G037AX101 |  | 1345344 | 19200 | SH |  | SOLE |  | 19200 | 0 | 0 |
| AMEREN CORPORATION | COM | 023608102 |  | 711846 | 7100 | SH |  | SOLE |  | 7100 | 0 | 0 |
| AMERICAN ELECTRIC POWER | COM | 025537101 |  | 671466 | 5800 | SH |  | SOLE |  | 5800 | 0 | 0 |
| AMERICAN FINANCIAL GROUP INC | COM | 025932104 |  | 675906 | 4900 | SH |  | SOLE |  | 4900 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 215248 | 653 | SH |  | SOLE |  | 653 | 0 | 0 |
| AMPHENOL CORP-CL A | CL A | 032095101 |  | 1644854 | 12015 | SH |  | SOLE |  | 12015 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 4354954 | 15800 | SH |  | SOLE |  | 15800 | 0 | 0 |
| ANTERO MIDSTREAM CORP | COM | 03676B102 |  | 206480 | 11600 | SH |  | SOLE |  | 11600 | 0 | 0 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 44993 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 8259339 | 30170 | SH |  | SOLE |  | 30170 | 0 | 0 |
| APPLIED MATERIALS INC | COM | 038222105 |  | 244637 | 930 | SH |  | SOLE |  | 930 | 0 | 0 |
| APPLOVIN CORP-CLASS A | COM CL A | 03831W108 |  | 621950 | 890 | SH |  | SOLE |  | 890 | 0 | 0 |
| APTARGROUP INC | COM | 038336103 |  | 135531 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 |  | 1773849 | 23100 | SH |  | SOLE |  | 23100 | 0 | 0 |
| ARCHER-DANIELS-MIDLAND CO | COM | 039483102 |  | 675352 | 11600 | SH |  | SOLE |  | 11600 | 0 | 0 |
| ARCHROCK INC | COM | 03957W106 |  | 313995 | 12100 | SH |  | SOLE |  | 12100 | 0 | 0 |
| ARGAN INC | COM | 04010E109 |  | 577314 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| ARGENX SE - ADR | SPONSORED ADR | 04016X101 |  | 1507410 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| ARM HOLDINGS PLC-ADR | SPONSORED ADS | 042068205 |  | 699197 | 6327 | SH |  | SOLE |  | 6327 | 0 | 0 |
| ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 |  | 2541130 | 36500 | SH |  | SOLE |  | 36500 | 0 | 0 |
| ARTHUR J GALLAGHER  CO | COM | 363576109 |  | 1370959 | 5210 | SH |  | SOLE |  | 5210 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 2316423 | 25037 | SH |  | SOLE |  | 25037 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 1620288 | 9600 | SH |  | SOLE |  | 9600 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 210861 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| AVEPOINT INC | COM CL A | 053604104 |  | 112240 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 806217 | 4414 | SH |  | SOLE |  | 4414 | 0 | 0 |
| AVIDITY BIOSCIENCES INC | COM | 05370A108 |  | 1017597 | 14100 | SH |  | SOLE |  | 14100 | 0 | 0 |
| BADGER METER INC | COM | 056525108 |  | 1150336 | 6400 | SH |  | SOLE |  | 6400 | 0 | 0 |
| BAKER HUGHES CO | CL A | 05722G100 |  | 398119 | 8773 | SH |  | SOLE |  | 8773 | 0 | 0 |
| BANK OF AMERICA CORP | COM | 060505104 |  | 774900 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| BANK OF NEW YORK MELLON CORP | COM | 064058100 |  | 1404941 | 11960 | SH |  | SOLE |  | 11960 | 0 | 0 |
| BEONE MEDICINES LTD-ADR | SPONSORED ADS | 07725L102 |  | 527510 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| BEST BUY CO INC | COM | 086516101 |  | 576640 | 8500 | SH |  | SOLE |  | 8500 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 678452 | 11300 | SH |  | SOLE |  | 11300 | 0 | 0 |
| BIONTECH SE-ADR | SPONSORED ADS | 09075V102 |  | 352240 | 3700 | SH |  | SOLE |  | 3700 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 888600 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| BKV CORPORATION | COM | 05603J108 |  | 52212 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 1104590 | 203 | SH |  | SOLE |  | 203 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 1842039 | 19236 | SH |  | SOLE |  | 19236 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1190420 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 6431571 | 18408 | SH |  | SOLE |  | 18408 | 0 | 0 |
| BROADRIDGE FINANCIAL SOLUTIO | COM | 11133T103 |  | 1364280 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| BROWN-FORMAN CORP-CLASS B | CL B | 115637209 |  | 422982 | 16200 | SH |  | SOLE |  | 16200 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 2225213 | 12680 | SH |  | SOLE |  | 12680 | 0 | 0 |
| C.H. ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 1836128 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| CACTUS INC - A | CL A | 127203107 |  | 96747 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| CADENCE DESIGN SYS INC | COM | 127387108 |  | 1858604 | 5850 | SH |  | SOLE |  | 5850 | 0 | 0 |
| CARPENTER TECHNOLOGY | COM | 144285103 |  | 325400 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| CASEY'S GENERAL STORES INC | COM | 147528103 |  | 1190574 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| CELCUITY INC | COM | 15102K100 |  | 660075 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| CELLDEX THERAPEUTICS INC | COM NEW | 15117B202 |  | 426892 | 16400 | SH |  | SOLE |  | 16400 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 65314 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| CG ONCOLOGY INC | COM | 156944100 |  | 358740 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 250380 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| CHESAPEAKE UTILITIES CORP | COM | 165303108 |  | 63090 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| CHEVRON CORP | COM | 166764100 |  | 407673 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| CIENA CORP | COM NEW | 171779309 |  | 82694 | 346 | SH |  | SOLE |  | 346 | 0 | 0 |
| CINCINNATI FINANCIAL CORP | COM | 172062101 |  | 1121932 | 6800 | SH |  | SOLE |  | 6800 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 168688 | 883 | SH |  | SOLE |  | 883 | 0 | 0 |
| CISCO SYSTEMS INC | COM | 17275R102 |  | 979454 | 12591 | SH |  | SOLE |  | 12591 | 0 | 0 |
| CLOUDFLARE INC - CLASS A | CL A COM | 18915M107 |  | 1326627 | 6610 | SH |  | SOLE |  | 6610 | 0 | 0 |
| CMS ENERGY CORP | COM | 125896100 |  | 722339 | 10300 | SH |  | SOLE |  | 10300 | 0 | 0 |
| COCA-COLA CO/THE | COM | 191216100 |  | 1543520 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 101893 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| CONSTELLATION ENERGY | COM | 21037T109 |  | 394163 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| CONSTRUCTION PARTNERS INC-A | COM CL A | 21044C107 |  | 223200 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 409400 | 4600 | SH |  | SOLE |  | 4600 | 0 | 0 |
| CORPAY INC | COM SHS | 219948106 |  | 73844 | 239 | SH |  | SOLE |  | 239 | 0 | 0 |
| COSTCO WHOLESALE CORP | COM | 22160K105 |  | 1508306 | 1738 | SH |  | SOLE |  | 1738 | 0 | 0 |
| COTERRA ENERGY INC | COM | 127097103 |  | 41920 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| CREDO TECHNOLOGY GROUP HOLDI | ORDINARY SHARES | G25457105 |  | 1869524 | 12920 | SH |  | SOLE |  | 12920 | 0 | 0 |
| CRH PLC | ORD | G25508105 |  | 343845 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| CROWDSTRIKE HOLDINGS INC - A | CL A | 22788C105 |  | 252232 | 530 | SH |  | SOLE |  | 530 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 807840 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 1080744 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| DANAHER CORP | COM | 235851102 |  | 1637473 | 7100 | SH |  | SOLE |  | 7100 | 0 | 0 |
| DATADOG INC - CLASS A | CL A COM | 23804L103 |  | 1862190 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| DENALI THERAPEUTICS INC | COM | 24823R105 |  | 298440 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 1799425 | 26670 | SH |  | SOLE |  | 26670 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 133713 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| DICK'S SPORTING GOODS INC | COM | 253393102 |  | 71558 | 354 | SH |  | SOLE |  | 354 | 0 | 0 |
| DOORDASH INC - A | CL A | 25809K105 |  | 265662 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| DOXIMITY INC-CLASS A | CL A | 26622P107 |  | 221150 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 398640 | 3300 | SH |  | SOLE |  | 3300 | 0 | 0 |
| DUKE ENERGY CORP | COM NEW | 26441C204 |  | 1316224 | 11200 | SH |  | SOLE |  | 11200 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 4339575 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 1593120 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| EDISON INTERNATIONAL | COM | 281020107 |  | 793320 | 13200 | SH |  | SOLE |  | 13200 | 0 | 0 |
| ELASTIC NV | ORD SHS | N14506104 |  | 1580345 | 20500 | SH |  | SOLE |  | 20500 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 150751 | 738 | SH |  | SOLE |  | 738 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 1428358 | 4100 | SH |  | SOLE |  | 4100 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 1858652 | 1723 | SH |  | SOLE |  | 1723 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 311630 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| ENSIGN GROUP INC/THE | COM | 29358P101 |  | 282128 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| ENTERGY CORP | COM | 29364G103 |  | 335268 | 3600 | SH |  | SOLE |  | 3600 | 0 | 0 |
| EOG RESOURCES INC | COM | 26875P101 |  | 146496 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 289062 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| EVERGY INC | COM | 30034W106 |  | 657450 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| EVERUS CONSTRUCTION GROUP | COM | 300426103 |  | 177640 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| EXACT SCIENCES CORP | COM | 30063P105 |  | 1223160 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| EXCELERATE ENERGY INC-A | CL A COM | 30069T101 |  | 75762 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| EXPAND ENERGY CORP | COM | 165167735 |  | 167670 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 229456 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1988745 | 16500 | SH |  | SOLE |  | 16500 | 0 | 0 |
| EYEPOINT INC | COM NEW | 30233G209 |  | 611520 | 33600 | SH |  | SOLE |  | 33600 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 72639 | 41 | SH |  | SOLE |  | 41 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 930883 | 22545 | SH |  | SOLE |  | 22545 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 1513503 | 31650 | SH |  | SOLE |  | 31650 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 81816 | 305 | SH |  | SOLE |  | 305 | 0 | 0 |
| FORD MOTOR CO | COM | 345370860 |  | 1768896 | 133200 | SH |  | SOLE |  | 133200 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 460430 | 8200 | SH |  | SOLE |  | 8200 | 0 | 0 |
| GARTNER INC | COM | 366651107 |  | 659880 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 2640571 | 3980 | SH |  | SOLE |  | 3980 | 0 | 0 |
| GENERAL MOTORS CO | COM | 37045V100 |  | 3607455 | 43500 | SH |  | SOLE |  | 43500 | 0 | 0 |
| GENMAB A/S -SP ADR | SPONSORED ADS | 372303206 |  | 673164 | 20700 | SH |  | SOLE |  | 20700 | 0 | 0 |
| GENTEX CORP | COM | 371901109 |  | 1010695 | 43100 | SH |  | SOLE |  | 43100 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 659426 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1650186 | 13211 | SH |  | SOLE |  | 13211 | 0 | 0 |
| GODADDY INC - CLASS A | CL A | 380237107 |  | 151812 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1427488 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| GRANITE CONSTRUCTION INC | COM | 387328107 |  | 307060 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| GULFPORT ENERGY CORP | COMMON SHARES | 402635502 |  | 150185 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 694050 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| HESS MIDSTREAM LP - CLASS A | CL A SHS | 428103105 |  | 95956 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE | COM | 42824C109 |  | 77004 | 3165 | SH |  | SOLE |  | 3165 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 625410 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| HONEYWELL INTERNATIONAL INC | COM | 438516106 |  | 236508 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 |  | 878614 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| IDEXX LABORATORIES INC | COM | 45168D104 |  | 137578 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| INSMED INC | COM PAR $.01 | 457669307 |  | 3562068 | 20200 | SH |  | SOLE |  | 20200 | 0 | 0 |
| INSULET CORP | COM | 45784P101 |  | 1677033 | 5836 | SH |  | SOLE |  | 5836 | 0 | 0 |
| INTUIT INC | COM | 461202103 |  | 2528063 | 3750 | SH |  | SOLE |  | 3750 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1403401 | 2439 | SH |  | SOLE |  | 2439 | 0 | 0 |
| IONIS PHARMACEUTICALS INC | COM | 462222100 |  | 1007748 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |
| IQVIA HOLDINGS INC | COM | 46266C105 |  | 2838875 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| JABIL INC | COM | 466313103 |  | 258467 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| JM SMUCKER CO/THE | COM NEW | 832696405 |  | 794160 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 809484 | 3900 | SH |  | SOLE |  | 3900 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 1486013 | 4590 | SH |  | SOLE |  | 4590 | 0 | 0 |
| KINDER MORGAN INC | COM | 49456B101 |  | 416176 | 15200 | SH |  | SOLE |  | 15200 | 0 | 0 |
| KINETIK HOLDINGS INC | COM NEW CL A | 02215L209 |  | 46527 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 231912 | 184 | SH |  | SOLE |  | 184 | 0 | 0 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 145280 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 721165 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 347871 | 1978 | SH |  | SOLE |  | 1978 | 0 | 0 |
| LOWE'S COS INC | COM | 548661107 |  | 1170384 | 4800 | SH |  | SOLE |  | 4800 | 0 | 0 |
| LYONDELLBASELL INDU-CL A | SHS - A - | N53745100 |  | 560505 | 12900 | SH |  | SOLE |  | 12900 | 0 | 0 |
| MAGNA INTERNATIONAL INC | COM | 559222401 |  | 1855065 | 34500 | SH |  | SOLE |  | 34500 | 0 | 0 |
| MAGNOLIA OIL  GAS CORP - A | CL A | 559663109 |  | 122920 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| MARATHON PETROLEUM CORP | COM | 56585A102 |  | 409000 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| MARSH  MCLENNAN COS | COM | 571748102 |  | 656705 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| MASTEC INC | COM | 576323109 |  | 1648424 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| MASTERCARD INC - A | CL A | 57636Q104 |  | 1232083 | 2132 | SH |  | SOLE |  | 2132 | 0 | 0 |
| MCCORMICK  CO-NON VTG SHRS | COM NON VTG | 579780206 |  | 829680 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 930070 | 1120 | SH |  | SOLE |  | 1120 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 1153800 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| MERCK  CO. INC. | COM | 58933Y105 |  | 852960 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| MERIT MEDICAL SYSTEMS INC | COM | 589889104 |  | 176440 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| META PLATFORMS INC-CLASS A | CL A | 30303M102 |  | 3531896 | 5362 | SH |  | SOLE |  | 5362 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC | COM | 595017104 |  | 1293000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 4047882 | 13751 | SH |  | SOLE |  | 13751 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 13021644 | 26733 | SH |  | SOLE |  | 26733 | 0 | 0 |
| MIRION TECHNOLOGIES INC | COM CL A | 60471A101 |  | 261470 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 |  | 1283360 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| MOBILEYE GLOBAL INC-A | COMMON CLASS A | 60741F104 |  | 1042720 | 98000 | SH |  | SOLE |  | 98000 | 0 | 0 |
| MONDELEZ INTERNATIONAL INC-A | CL A | 609207105 |  | 621952 | 11300 | SH |  | SOLE |  | 11300 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 76165 | 180 | SH |  | SOLE |  | 180 | 0 | 0 |
| MONOLITHIC POWER SYSTEMS INC | COM | 609839105 |  | 74403 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 809730 | 4500 | SH |  | SOLE |  | 4500 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 943200 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 1657086 | 31910 | SH |  | SOLE |  | 31910 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 1405824 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| MUELLER WATER PRODUCTS INC-A | COM SER A | 624758108 |  | 221310 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 1896660 | 8200 | SH |  | SOLE |  | 8200 | 0 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 1719892 | 21270 | SH |  | SOLE |  | 21270 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 1284677 | 13645 | SH |  | SOLE |  | 13645 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 |  | 70958 | 494 | SH |  | SOLE |  | 494 | 0 | 0 |
| NEWAMSTERDAM PHARMA CO NV | ORDINARY SHARES | N62509109 |  | 521798 | 14900 | SH |  | SOLE |  | 14900 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1437636 | 17910 | SH |  | SOLE |  | 17910 | 0 | 0 |
| NIKE INC -CL B | CL B | 654106103 |  | 563132 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 |  | 649915 | 15500 | SH |  | SOLE |  | 15500 | 0 | 0 |
| NVIDIA CORP | COM | 67066G104 |  | 16742922 | 88954 | SH |  | SOLE |  | 88954 | 0 | 0 |
| NXP SEMICONDUCTORS NV | COM | N6596X109 |  | 3946234 | 17900 | SH |  | SOLE |  | 17900 | 0 | 0 |
| OCCIDENTAL PETROLEUM CORP | COM | 674599105 |  | 262665 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| ON HOLDING AG-CLASS A | NAMEN AKT A | H5919C104 |  | 1233960 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| ON SEMICONDUCTOR | COM | 682189105 |  | 2776628 | 51400 | SH |  | SOLE |  | 51400 | 0 | 0 |
| ONEOK INC | COM | 682680103 |  | 103124 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1563040 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| O'REILLY AUTOMOTIVE INC | COM | 67103H107 |  | 223668 | 2437 | SH |  | SOLE |  | 2437 | 0 | 0 |
| OSI SYSTEMS INC | COM | 671044105 |  | 324192 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| PACKAGING CORP OF AMERICA | COM | 695156109 |  | 76827 | 368 | SH |  | SOLE |  | 368 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC-A | CL A | 69608A108 |  | 458792 | 2491 | SH |  | SOLE |  | 2491 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 264580 | 1416 | SH |  | SOLE |  | 1416 | 0 | 0 |
| PAR TECHNOLOGY CORP/DEL | COM | 698884103 |  | 405371 | 10900 | SH |  | SOLE |  | 10900 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 478800 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 |  | 211600 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| PENUMBRA INC | COM | 70975L107 |  | 2090870 | 6640 | SH |  | SOLE |  | 6640 | 0 | 0 |
| PERMIAN RESOURCES CORP-CL A | CLASS A COM | 71424F105 |  | 90480 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| PHILIP MORRIS INTERNATIONAL | COM | 718172109 |  | 1342968 | 8293 | SH |  | SOLE |  | 8293 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 900130 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| PNC FINANCIAL SERVICES GROUP | COM | 693475105 |  | 741895 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| POWELL INDUSTRIES INC | COM | 739128106 |  | 167940 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| PRIMORIS SERVICES CORP | COM | 74164F103 |  | 126540 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| PROCEPT BIOROBOTICS CORP | COM | 74276L105 |  | 778030 | 24200 | SH |  | SOLE |  | 24200 | 0 | 0 |
| PROCTER  GAMBLE CO/THE | COM | 742718109 |  | 881877 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| PUBLIC SERVICE ENTERPRISE GP | COM | 744573106 |  | 726210 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| Q2 HOLDINGS INC | COM | 74736L109 |  | 297480 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 4925412 | 28400 | SH |  | SOLE |  | 28400 | 0 | 0 |
| QUANTA SERVICES INC | COM | 74762E102 |  | 258618 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| RANGE RESOURCES CORP | COM | 75281A109 |  | 57376 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| RB GLOBAL INC | COM | 74935Q107 |  | 211320 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| REDDIT INC-CL A | CL A | 75734B100 |  | 78842 | 336 | SH |  | SOLE |  | 336 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 1170750 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| RELIANCE INC | COM | 759509102 |  | 673601 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| REVOLUTION MEDICINES INC | COM | 76155X100 |  | 797148 | 9900 | SH |  | SOLE |  | 9900 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 1172184 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 1879488 | 10400 | SH |  | SOLE |  | 10400 | 0 | 0 |
| ROYAL CARIBBEAN CRUISES LTD | COM | V7780T103 |  | 1905331 | 6740 | SH |  | SOLE |  | 6740 | 0 | 0 |
| RPM INTERNATIONAL INC | COM | 749685103 |  | 527950 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 1590300 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| SCHOLAR ROCK HOLDING CORP | COM | 80706P103 |  | 474495 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SEA LTD-ADR | SPONSORD ADS | 81141R100 |  | 863874 | 6600 | SH |  | SOLE |  | 6600 | 0 | 0 |
| SELECT WATER SOLUTIONS INC | CL A COM | 81617J301 |  | 108732 | 10200 | SH |  | SOLE |  | 10200 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 2573757 | 16650 | SH |  | SOLE |  | 16650 | 0 | 0 |
| SHOPIFY INC - CLASS A | CL A SUB VTG SHS | 82509L107 |  | 243594 | 1451 | SH |  | SOLE |  | 1451 | 0 | 0 |
| SLB LTD | COM STK | 806857108 |  | 128860 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| SNAP-ON INC | COM | 833034101 |  | 702000 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 1357461 | 6090 | SH |  | SOLE |  | 6090 | 0 | 0 |
| SOLSTICE ADV MATERIALS INC | COM SHS | 83443Q103 |  | 14787 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| SOUTHERN CO/THE | COM | 842587107 |  | 700320 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| SPOTIFY TECHNOLOGY SA | SHS | L8681T102 |  | 1162380 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| STATE STREET CORP | COM | 857477103 |  | 934999 | 7100 | SH |  | SOLE |  | 7100 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 155395 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 1698907 | 3547 | SH |  | SOLE |  | 3547 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 625464 | 8400 | SH |  | SOLE |  | 8400 | 0 | 0 |
| T ROWE PRICE GROUP INC | COM | 74144T108 |  | 648086 | 6200 | SH |  | SOLE |  | 6200 | 0 | 0 |
| TAIWAN SEMICONDUCTOR-SP ADR | SPONSORED ADS | 874039100 |  | 3030264 | 10070 | SH |  | SOLE |  | 10070 | 0 | 0 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 152108 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| TARGA RESOURCES CORP | COM | 87612G101 |  | 202323 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 4659180 | 20100 | SH |  | SOLE |  | 20100 | 0 | 0 |
| TECHNIPFMC PLC | COM | G87110105 |  | 169822 | 3800 | SH |  | SOLE |  | 3800 | 0 | 0 |
| TERADYNE INC | COM | 880770102 |  | 275515 | 1396 | SH |  | SOLE |  | 1396 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 7342289 | 15974 | SH |  | SOLE |  | 15974 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 75903 | 275 | SH |  | SOLE |  | 275 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 23972 | 118 | SH |  | SOLE |  | 118 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 236514 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 |  | 223972 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| TYSON FOODS INC-CL A | CL A | 902494103 |  | 609232 | 10400 | SH |  | SOLE |  | 10400 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 4330910 | 53140 | SH |  | SOLE |  | 53140 | 0 | 0 |
| UL SOLUTIONS INC - CLASS A | CLASS A COM SHS | 903731107 |  | 242550 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| ULTRAGENYX PHARMACEUTICAL IN | COM | 90400D108 |  | 283968 | 14400 | SH |  | SOLE |  | 14400 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 789456 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| US BANCORP | COM NEW | 902973304 |  | 822950 | 15100 | SH |  | SOLE |  | 15100 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 447282 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| VARONIS SYSTEMS INC | COM | 922280102 |  | 523438 | 15700 | SH |  | SOLE |  | 15700 | 0 | 0 |
| VERA THERAPEUTICS INC | CL A | 92337R101 |  | 1577950 | 30200 | SH |  | SOLE |  | 30200 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 574816 | 14200 | SH |  | SOLE |  | 14200 | 0 | 0 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 1227690 | 54000 | SH |  | SOLE |  | 54000 | 0 | 0 |
| VERTIV HOLDINGS CO-A | COM CL A | 92537N108 |  | 77676 | 469 | SH |  | SOLE |  | 469 | 0 | 0 |
| VIPER ENERGY INC-CL A | CL A | 64361Q101 |  | 145882 | 3800 | SH |  | SOLE |  | 3800 | 0 | 0 |
| VISA INC-CLASS A SHARES | COM CL A | 92826C839 |  | 76950 | 217 | SH |  | SOLE |  | 217 | 0 | 0 |
| VISTEON CORP | COM NEW | 92839U206 |  | 1561540 | 16300 | SH |  | SOLE |  | 16300 | 0 | 0 |
| WABTEC CORP | COM | 929740108 |  | 185020 | 852 | SH |  | SOLE |  | 852 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 1687950 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 75701 | 424 | SH |  | SOLE |  | 424 | 0 | 0 |
| WATSCO INC | COM | 942622200 |  | 628200 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| WAYSTAR HOLDING CORP | COM | 946784105 |  | 191052 | 5800 | SH |  | SOLE |  | 5800 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 466440 | 7800 | SH |  | SOLE |  | 7800 | 0 | 0 |
| WORKDAY INC-CLASS A | CL A | 98138H101 |  | 73800 | 337 | SH |  | SOLE |  | 337 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 1045092 | 14100 | SH |  | SOLE |  | 14100 | 0 | 0 |
| XENON PHARMACEUTICALS INC | COM | 98420N105 |  | 638352 | 14400 | SH |  | SOLE |  | 14400 | 0 | 0 |
| ZILLOW GROUP INC - C | CL C CAP STK | 98954M200 |  | 70628 | 1011 | SH |  | SOLE |  | 1011 | 0 | 0 |
| ZYMEWORKS INC | COM | 98985Y108 |  | 855680 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| AMERICAN TOWER CORP | COM | 03027X100 |  | 1494555 | 8500 | SH |  | SOLE |  | 8500 | 0 | 0 |
| ISHARES CORE MSCI EMERGING | CORE MSCI EMKT | 46434G103 |  | 4830429 | 71860 | SH |  | SOLE |  | 71860 | 0 | 0 |
| ISHARES CORE S 500 ETF | CORE S ETF | 464287200 |  | 4394879 | 6361 | SH |  | SOLE |  | 6361 | 0 | 0 |
| ISHARES GLOBAL REIT ETF | GLOBAL REIT ETF | 46434V647 |  | 794917 | 31670 | SH |  | SOLE |  | 31670 | 0 | 0 |
| ISHARES JP MORGAN USD EMERGI | JPMORGAN USD EMG | 464288281 |  | 650473764 | 6734380 | SH |  | SOLE |  | 6734380 | 0 | 0 |
| ISHARES RUSSELL 2000 ETF | RUSSELL 2000 ETF | 464287655 |  | 4487845 | 17960 | SH |  | SOLE |  | 17960 | 0 | 0 |
| ISHARES SEMICONDUCTOR ETF | ISHARES SEMICDTR | 464287523 |  | 1038088 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| ISHARES U.S. AEROSPACE  DEF | US AER DEF ETF | 464288760 |  | 1612310 | 7430 | SH |  | SOLE |  | 7430 | 0 | 0 |
| ISHARES US TREASURY BOND ETF | US TREAS BD ETF | 46429B267 |  | 700181 | 30324 | SH |  | SOLE |  | 30324 | 0 | 0 |
| JPMORGAN ACTIVE GROWTH ETF | ACTIVE GROWTH | 46654Q609 |  | 486104 | 5184 | SH |  | SOLE |  | 5184 | 0 | 0 |
| SS COMM SELECT SECTOR SPDR | STATE STREET COM | 81369Y852 |  | 2920725 | 24775 | SH |  | SOLE |  | 24775 | 0 | 0 |
| SS CONSUMER DISC SELECT SECT | STATE STREET CON | 81369Y407 |  | 1933600 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| SS HEALTH CARE SELECT SECTOR | STATE STREET HEA | 81369Y209 |  | 1435789 | 9215 | SH |  | SOLE |  | 9215 | 0 | 0 |
| SS REAL ESTATE SELECT SECTOR | STATE STREET REA | 81369Y860 |  | 3750962 | 92320 | SH |  | SOLE |  | 92320 | 0 | 0 |
| SS TECHNOLOGY SELECT SECTOR | STATE STREET TEC | 81369Y803 |  | 580563 | 3980 | SH |  | SOLE |  | 3980 | 0 | 0 |
| SS UTILITIES SELECT SECTOR | STATE STREET UTI | 81369Y886 |  | 3776823 | 88120 | SH |  | SOLE |  | 88120 | 0 | 0 |
| VANECK JPM EM LOCAL CURR BND | JP MRGAN EM LOC | 92189H300 |  | 2803884 | 108931 | SH |  | SOLE |  | 108931 | 0 | 0 |
| VANGUARD FTSE DEVELOPED ETF | VAN FTSE DEV MKT | 921943858 |  | 1529678 | 24389 | SH |  | SOLE |  | 24389 | 0 | 0 |
| VANGUARD FTSE EMERGING MARKE | FTSE EMR MKT ETF | 922042858 |  | 90946148 | 1696440 | SH |  | SOLE |  | 1696440 | 0 | 0 |
| VANGUARD TOTAL STOCK MKT ETF | TOTAL STK MKT | 922908769 |  | 715234640 | 2113640 | SH |  | SOLE |  | 2113640 | 0 | 0 |

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