# EDGAR Filing Document

**Accession Number:** 0001725910
**File Stem:** 0000919574-25-004842
**Filing Date:** 2025-8
**Character Count:** 17590
**Document Hash:** dc321963cddda87a56d8665284c5a380
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-004842.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0000919574-25-004842

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STANSBERRY ASSET MANAGEMENT, LLC
- **CENTRAL INDEX KEY:** 0001725910

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18373
- **FILM NUMBER:** 251216710

**BUSINESS ADDRESS:**
- **STREET 1:** 1600 SOLANA BOULEVARD
- **STREET 2:** BUILDING 8, SUITE 8100
- **CITY:** WESTLAKE
- **STATE:** TX
- **ZIP:** 76262
- **BUSINESS PHONE:** 646-854-4542

**MAIL ADDRESS:**
- **STREET 1:** 1600 SOLANA BOULEVARD
- **STREET 2:** BUILDING 8, SUITE 8100
- **CITY:** WESTLAKE
- **STATE:** TX
- **ZIP:** 76262

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** STANSBERRY ASSET MANAGEMENT LLC<br>**Address:** 1600 Solana Boulevard<br>Building 8 Suite 8100<br>Westlake, TX 76262

**Form 13F File Number:** 028-18373

**CRD Number (if applicable):** 000282103

**SEC File Number (if applicable):** 801-107061

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:** Jeffrey S. Sargent<br>**Title:** Chief Compliance Officer<br>**Phone:** 203-400-2199

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

/s/ Jeffrey S. Sargent  Westlake, TX  08-14-2025<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:** 141

**Form 13F Information Table Value Total:** $915059678

      (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 |
| AAR CORP | COM | 000361105 |  | 11681436 | 169813 | SH |  | SOLE |  | 0 | 0 | 169813 |
| ABBVIE INC | COM | 00287Y109 |  | 330589 | 1781 | SH |  | SOLE |  | 0 | 0 | 1781 |
| ADOBE INC | COM | 00724F101 |  | 429437 | 1110 | SH |  | SOLE |  | 0 | 0 | 1110 |
| AFFIRM HLDGS INC | NOTE 11/1 | 00827BAB2 |  | 16406544 | 17519000 | PRN |  | SOLE |  | 0 | 0 | 17519000 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 10946600 | 92042 | SH |  | SOLE |  | 0 | 0 | 92042 |
| AIRBNB INC | COM CL A | 009066101 |  | 1706260 | 12893 | SH |  | SOLE |  | 0 | 0 | 12893 |
| ALLEGION PLC | ORD SHS | G0176J109 |  | 7717491 | 53549 | SH |  | SOLE |  | 0 | 0 | 53549 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 354425 | 1998 | SH |  | SOLE |  | 0 | 0 | 1998 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 23926180 | 135767 | SH |  | SOLE |  | 0 | 0 | 135767 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 9292561 | 190187 | SH |  | SOLE |  | 0 | 0 | 190187 |
| AMAZON COM INC | COM | 023135106 |  | 23495791 | 107096 | SH |  | SOLE |  | 0 | 0 | 107096 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 6308274 | 2617541 | SH |  | SOLE |  | 0 | 0 | 2617541 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 12395050 | 38858 | SH |  | SOLE |  | 0 | 0 | 38858 |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 |  | 1162647 | 9212 | SH |  | SOLE |  | 0 | 0 | 9212 |
| ANSYS INC | COM | 03662Q105 |  | 7273064 | 20708 | SH |  | SOLE |  | 0 | 0 | 20708 |
| APPLE INC | COM | 037833100 |  | 4213583 | 20537 | SH |  | SOLE |  | 0 | 0 | 20537 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 696408 | 869 | SH |  | SOLE |  | 0 | 0 | 869 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 29233959 | 281583 | SH |  | SOLE |  | 0 | 0 | 281583 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 13215348 | 634743 | SH |  | SOLE |  | 0 | 0 | 634743 |
| BERKLEY W R CORP | COM | 084423102 |  | 24702217 | 336222 | SH |  | SOLE |  | 0 | 0 | 336222 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 8726372 | 17964 | SH |  | SOLE |  | 0 | 0 | 17964 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 728800 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BILL HOLDINGS INC | COM | 090043100 |  | 517372 | 11184 | SH |  | SOLE |  | 0 | 0 | 11184 |
| BLACKSTONE MORTGAGE TRUST IN | NOTE 5.500% 3/1 | 09257WAE0 |  | 6097880 | 6280000 | PRN |  | SOLE |  | 0 | 0 | 6280000 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 1128525 | 36700 | SH |  | SOLE |  | 0 | 0 | 36700 |
| BROADCOM INC | COM | 11135F101 |  | 302664 | 1098 | SH |  | SOLE |  | 0 | 0 | 1098 |
| BROOKFIELD RENEWABLE CORP | CL A EX SUB VTG | 11285B108 |  | 303574 | 9280 | SH |  | SOLE |  | 0 | 0 | 9280 |
| CAMPING WORLD HLDGS INC | CL A | 13462K109 |  | 634431 | 36907 | SH |  | SOLE |  | 0 | 0 | 36907 |
| CANTALOUPE INC | COM | 138103106 |  | 655872 | 59679 | SH |  | SOLE |  | 0 | 0 | 59679 |
| CARLISLE COS INC | COM | 142339100 |  | 7243224 | 19398 | SH |  | SOLE |  | 0 | 0 | 19398 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 12105137 | 51907 | SH |  | SOLE |  | 0 | 0 | 51907 |
| CINTAS CORP | COM | 172908105 |  | 2839124 | 12739 | SH |  | SOLE |  | 0 | 0 | 12739 |
| CITIGROUP INC | COM NEW | 172967424 |  | 2042325 | 23993 | SH |  | SOLE |  | 0 | 0 | 23993 |
| CME GROUP INC | COM | 12572Q105 |  | 21934861 | 79584 | SH |  | SOLE |  | 0 | 0 | 79584 |
| COCA COLA CO | COM | 191216100 |  | 18608661 | 263020 | SH |  | SOLE |  | 0 | 0 | 263020 |
| COMFORT SYS USA INC | COM | 199908104 |  | 11008165 | 20530 | SH |  | SOLE |  | 0 | 0 | 20530 |
| COSTAR GROUP INC | COM | 22160N109 |  | 732364 | 9109 | SH |  | SOLE |  | 0 | 0 | 9109 |
| CRH PLC | ORD | G25508105 |  | 12052083 | 131286 | SH |  | SOLE |  | 0 | 0 | 131286 |
| DANAHER CORPORATION | COM | 235851102 |  | 4856442 | 24585 | SH |  | SOLE |  | 0 | 0 | 24585 |
| DATADOG INC | CL A COM | 23804L103 |  | 2333581 | 17372 | SH |  | SOLE |  | 0 | 0 | 17372 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 561004 | 4083 | SH |  | SOLE |  | 0 | 0 | 4083 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 270449 | 7546 | SH |  | SOLE |  | 0 | 0 | 7546 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 15307094 | 33970 | SH |  | SOLE |  | 0 | 0 | 33970 |
| DOORDASH INC | CL A | 25809K105 |  | 412411 | 1673 | SH |  | SOLE |  | 0 | 0 | 1673 |
| DOXIMITY INC | CL A | 26622P107 |  | 543350 | 8858 | SH |  | SOLE |  | 0 | 0 | 8858 |
| ELI LILLY  CO | COM | 532457108 |  | 9005164 | 11552 | SH |  | SOLE |  | 0 | 0 | 11552 |
| ENSTAR GROUP LIMITED | SHS | G3075P101 |  | 956944 | 2845 | SH |  | SOLE |  | 0 | 0 | 2845 |
| EQUINOX GOLD CORP | COM | 29446Y502 |  | 470856 | 81730 | SH |  | SOLE |  | 0 | 0 | 81730 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 301085 | 2793 | SH |  | SOLE |  | 0 | 0 | 2793 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 2034602 | 21647 | SH |  | SOLE |  | 0 | 0 | 21647 |
| FISERV INC | COM | 337738108 |  | 14417614 | 83624 | SH |  | SOLE |  | 0 | 0 | 83624 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 4897069 | 17137 | SH |  | SOLE |  | 0 | 0 | 17137 |
| FRANCO NEV CORP | COM | 351858105 |  | 2891586 | 17640 | SH |  | SOLE |  | 0 | 0 | 17640 |
| FRANKLIN TEMPLETON DIGITAL H | BITCOIN ETF SHS | 354921108 |  | 4131018 | 66181 | SH |  | SOLE |  | 0 | 0 | 66181 |
| GENERAC HLDGS INC | COM | 368736104 |  | 468010 | 3268 | SH |  | SOLE |  | 0 | 0 | 3268 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 1344306 | 4609 | SH |  | SOLE |  | 0 | 0 | 4609 |
| GLOBAL SELF STORAGE INC | COM | 37955N106 |  | 450317 | 84329 | SH |  | SOLE |  | 0 | 0 | 84329 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 435482 | 86577 | SH |  | SOLE |  | 0 | 0 | 86577 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 1677259 | 19772 | SH |  | SOLE |  | 0 | 0 | 19772 |
| HARROW INC | COM | 415858109 |  | 1474807 | 48291 | SH |  | SOLE |  | 0 | 0 | 48291 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 632436 | 6037 | SH |  | SOLE |  | 0 | 0 | 6037 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 9431205 | 52346 | SH |  | SOLE |  | 0 | 0 | 52346 |
| HERSHEY CO | COM | 427866108 |  | 4672706 | 28157 | SH |  | SOLE |  | 0 | 0 | 28157 |
| HOME DEPOT INC | COM | 437076102 |  | 4572693 | 12472 | SH |  | SOLE |  | 0 | 0 | 12472 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 14132767 | 77030 | SH |  | SOLE |  | 0 | 0 | 77030 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1907756 | 6472 | SH |  | SOLE |  | 0 | 0 | 6472 |
| INTEST CORP | COM | 461147100 |  | 342036 | 46983 | SH |  | SOLE |  | 0 | 0 | 46983 |
| INTUIT | COM | 461202103 |  | 8461587 | 10743 | SH |  | SOLE |  | 0 | 0 | 10743 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 24541223 | 243730 | SH |  | SOLE |  | 0 | 0 | 243730 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 18778140 | 212783 | SH |  | SOLE |  | 0 | 0 | 212783 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 1872933 | 20102 | SH |  | SOLE |  | 0 | 0 | 20102 |
| ISHARES TR | MBS ETF | 464288588 |  | 20807346 | 221614 | SH |  | SOLE |  | 0 | 0 | 221614 |
| JANUS DETROIT STR TR | HENDERSON MTG | 47103U852 |  | 13534034 | 300423 | SH |  | SOLE |  | 0 | 0 | 300423 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 10545491 | 829048 | SH |  | SOLE |  | 0 | 0 | 829048 |
| KENVUE INC | COM | 49177J102 |  | 9218943 | 440465 | SH |  | SOLE |  | 0 | 0 | 440465 |
| KINROSS GOLD CORP | COM | 496902404 |  | 5488456 | 351149 | SH |  | SOLE |  | 0 | 0 | 351149 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 5814062 | 12015 | SH |  | SOLE |  | 0 | 0 | 12015 |
| KYNDRYL HLDGS INC | COMMON STOCK | 50155Q100 |  | 437433 | 10425 | SH |  | SOLE |  | 0 | 0 | 10425 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 1792817 | 14773 | SH |  | SOLE |  | 0 | 0 | 14773 |
| LITMAN GREGORY FDS TR | IMGP DBI MANAGED | 53700T827 |  | 3001341 | 116648 | SH |  | SOLE |  | 0 | 0 | 116648 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 2785480 | 6014 | SH |  | SOLE |  | 0 | 0 | 6014 |
| MARKEL GROUP INC | COM | 570535104 |  | 16803790 | 8413 | SH |  | SOLE |  | 0 | 0 | 8413 |
| MCDONALDS CORP | COM | 580135101 |  | 6253149 | 21402 | SH |  | SOLE |  | 0 | 0 | 21402 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 16928482 | 6477 | SH |  | SOLE |  | 0 | 0 | 6477 |
| META PLATFORMS INC | CL A | 30303M102 |  | 9511074 | 12886 | SH |  | SOLE |  | 0 | 0 | 12886 |
| MICROSOFT CORP | COM | 594918104 |  | 25020385 | 50301 | SH |  | SOLE |  | 0 | 0 | 50301 |
| NEWMONT CORP | COM | 651639106 |  | 891261 | 15298 | SH |  | SOLE |  | 0 | 0 | 15298 |
| NIKE INC | CL B | 654106103 |  | 597588 | 8412 | SH |  | SOLE |  | 0 | 0 | 8412 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 6541571 | 94778 | SH |  | SOLE |  | 0 | 0 | 94778 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 12409959 | 78549 | SH |  | SOLE |  | 0 | 0 | 78549 |
| NVR INC | COM | 62944T105 |  | 4453553 | 603 | SH |  | SOLE |  | 0 | 0 | 603 |
| OR ROYALTIES INC. | COM SHS | 68390D106 |  | 8304491 | 323698 | SH |  | SOLE |  | 0 | 0 | 323698 |
| PAN AMERN SILVER CORP | COM | 697900108 |  | 828684 | 29179 | SH |  | SOLE |  | 0 | 0 | 29179 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 1309631 | 1875 | SH |  | SOLE |  | 0 | 0 | 1875 |
| PG CORP | PFD CONV SER A | 69331C306 |  | 6488406 | 172564 | SH |  | SOLE |  | 0 | 0 | 172564 |
| PLANET FITNESS INC | CL A | 72703H101 |  | 6226537 | 57098 | SH |  | SOLE |  | 0 | 0 | 57098 |
| PRICESMART INC | COM | 741511109 |  | 13107718 | 124788 | SH |  | SOLE |  | 0 | 0 | 124788 |
| RENAISSANCERE HLDGS LTD | COM | G7496G103 |  | 2531209 | 10421 | SH |  | SOLE |  | 0 | 0 | 10421 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 |  | 6736194 | 596651 | SH |  | SOLE |  | 0 | 0 | 596651 |
| ROYAL GOLD INC | COM | 780287108 |  | 6307629 | 35468 | SH |  | SOLE |  | 0 | 0 | 35468 |
| S GLOBAL INC | COM | 78409V104 |  | 11545992 | 21897 | SH |  | SOLE |  | 0 | 0 | 21897 |
| SALESFORCE INC | COM | 79466L302 |  | 1044948 | 3832 | SH |  | SOLE |  | 0 | 0 | 3832 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 |  | 632799 | 67319 | SH |  | SOLE |  | 0 | 0 | 67319 |
| SEA LTD | NOTE 0.250% 9/1 | 81141RAG5 |  | 1739835 | 1845000 | PRN |  | SOLE |  | 0 | 0 | 1845000 |
| SEABRIDGE GOLD INC | COM | 811916105 |  | 524637 | 36132 | SH |  | SOLE |  | 0 | 0 | 36132 |
| SHELL PLC | SPON ADS | 780259305 |  | 6244795 | 88692 | SH |  | SOLE |  | 0 | 0 | 88692 |
| SHOALS TECHNOLOGIES GROUP IN | CL A | 82489W107 |  | 272842 | 64198 | SH |  | SOLE |  | 0 | 0 | 64198 |
| SIMPSON MFG INC | COM | 829073105 |  | 665193 | 4283 | SH |  | SOLE |  | 0 | 0 | 4283 |
| SITIO ROYALTIES CORP | CLASS A COM | 82983N108 |  | 2568095 | 139722 | SH |  | SOLE |  | 0 | 0 | 139722 |
| SMITH A O CORP | COM | 831865209 |  | 1093314 | 16674 | SH |  | SOLE |  | 0 | 0 | 16674 |
| SNAP INC | NOTE 0.500% 5/0 | 83304AAK2 |  | 8082288 | 9531000 | PRN |  | SOLE |  | 0 | 0 | 9531000 |
| SNAP INC | CL A | 83304A106 |  | 772689 | 88917 | SH |  | SOLE |  | 0 | 0 | 88917 |
| SNAP INC | NOTE 5/0 | 83304AAF3 |  | 10562138 | 11671000 | PRN |  | SOLE |  | 0 | 0 | 11671000 |
| SNOWFLAKE INC | CL A | 833445109 |  | 6067971 | 27117 | SH |  | SOLE |  | 0 | 0 | 27117 |
| SPROTT ETF TRUST | JR GOLD MINERS E | 85210B201 |  | 804902 | 16189 | SH |  | SOLE |  | 0 | 0 | 16189 |
| SPROTT PHYSICAL GOLD  SILVE | TR UNIT | 85208R101 |  | 215817 | 7170 | SH |  | SOLE |  | 0 | 0 | 7170 |
| SPROTT PHYSICAL SILVER TR | TR UNIT | 85207K107 |  | 139793 | 11421 | SH |  | SOLE |  | 0 | 0 | 11421 |
| STARBUCKS CORP | COM | 855244109 |  | 2268495 | 24757 | SH |  | SOLE |  | 0 | 0 | 24757 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 408135 | 1802 | SH |  | SOLE |  | 0 | 0 | 1802 |
| TESLA INC | COM | 88160R101 |  | 660415 | 2079 | SH |  | SOLE |  | 0 | 0 | 2079 |
| THE TRADE DESK INC | COM CL A | 88339J105 |  | 855961 | 11890 | SH |  | SOLE |  | 0 | 0 | 11890 |
| TIMKEN CO | COM | 887389104 |  | 12662612 | 174536 | SH |  | SOLE |  | 0 | 0 | 174536 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 10470366 | 39136 | SH |  | SOLE |  | 0 | 0 | 39136 |
| TRIPLE FLAG PRECIOUS METAL | COM | 89679M104 |  | 10183676 | 429872 | SH |  | SOLE |  | 0 | 0 | 429872 |
| UGI CORP NEW | COM | 902681105 |  | 7111536 | 195265 | SH |  | SOLE |  | 0 | 0 | 195265 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 5521407 | 35139 | SH |  | SOLE |  | 0 | 0 | 35139 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 769395 | 14779 | SH |  | SOLE |  | 0 | 0 | 14779 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 348991 | 5835 | SH |  | SOLE |  | 0 | 0 | 5835 |
| VERISIGN INC | COM | 92343E102 |  | 9974648 | 34538 | SH |  | SOLE |  | 0 | 0 | 34538 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 13369762 | 42921 | SH |  | SOLE |  | 0 | 0 | 42921 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 6622026 | 153040 | SH |  | SOLE |  | 0 | 0 | 153040 |
| VERRA MOBILITY CORP | CL A COM STK | 92511U102 |  | 9006493 | 354726 | SH |  | SOLE |  | 0 | 0 | 354726 |
| VICI PPTYS INC | COM | 925652109 |  | 16635106 | 510279 | SH |  | SOLE |  | 0 | 0 | 510279 |
| VISA INC | COM CL A | 92826C839 |  | 25376986 | 71474 | SH |  | SOLE |  | 0 | 0 | 71474 |
| VISHAY INTERTECHNOLOGY INC | NOTE 2.250% 9/1 | 928298AR9 |  | 382165 | 427000 | PRN |  | SOLE |  | 0 | 0 | 427000 |
| VITA COCO CO INC | COM | 92846Q107 |  | 15979918 | 442657 | SH |  | SOLE |  | 0 | 0 | 442657 |
| WESTERN AST INFL LKD OPP  I | COM | 95766R104 |  | 729945 | 83327 | SH |  | SOLE |  | 0 | 0 | 83327 |
| WINGSTOP INC | COM | 974155103 |  | 379169 | 1126 | SH |  | SOLE |  | 0 | 0 | 1126 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 3528776 | 53858 | SH |  | SOLE |  | 0 | 0 | 53858 |
| XYLEM INC | COM | 98419M100 |  | 4248499 | 32842 | SH |  | SOLE |  | 0 | 0 | 32842 |
| ZETA GLOBAL HOLDINGS CORP | CL A | 98956A105 |  | 8175204 | 527773 | SH |  | SOLE |  | 0 | 0 | 527773 |

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