# EDGAR Filing Document

**Accession Number:** 0001892378
**File Stem:** 0001214659-23-002417
**Filing Date:** 2023-2
**Character Count:** 14292
**Document Hash:** 43d6bd0eb0fe3046b67ccbdf6c996d94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-23-002417.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001214659-23-002417

**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:** MBB PUBLIC MARKETS I LLC
- **CENTRAL INDEX KEY:** 0001892378
- **IRS NUMBER:** 872675667
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22092
- **FILM NUMBER:** 23628682

**BUSINESS ADDRESS:**
- **STREET 1:** 225 W WACKER DR
- **STREET 2:** SUITE 2025
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 8726644020

**MAIL ADDRESS:**
- **STREET 1:** 225 W WACKER DR
- **STREET 2:** SUITE 2025
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

### 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:** MBB PUBLIC MARKETS I LLC<br>**Address:** 225 W WACKER DR<br>SUITE 2025<br>CHICAGO, IL 60606

**Form 13F File Number:** 028-22092

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:** Adam Sappern<br>**Title:** President<br>**Phone:** 872-664-4020

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

/s/ Adam Sappern  Chicago, IL  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:** 104

**Form 13F Information Table Value Total:** $3702180533

      (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 |
| ADECOAGRO S A | COM | L00849106 |  | 2732334 | 329594 | SH |  | SOLE |  | 329594 | 0 | 0 |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 |  | 661268 | 94602 | SH |  | SOLE |  | 94602 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3882120 | 44000 | SH | Call | SOLE |  | 44000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 18549652 | 210242 | SH |  | SOLE |  | 210242 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 284765 | 1084 | SH |  | SOLE |  | 1084 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 12543203 | 128807 | SH |  | SOLE |  | 128807 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 298428 | 546 | SH |  | SOLE |  | 546 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 24192041 | 730436 | SH |  | SOLE |  | 730436 | 0 | 0 |
| BARRICK GOLD CORP | COM | 067901108 |  | 1202600 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 5624532 | 12 | SH |  | SOLE |  | 12 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 750627 | 2430 | SH |  | SOLE |  | 2430 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 7548255 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| BUNGE LIMITED | COM | G16962105 |  | 9473960 | 94958 | SH |  | SOLE |  | 94958 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 18897145 | 833575 | SH |  | SOLE |  | 833575 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 621838 | 8089 | SH |  | SOLE |  | 8089 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 1892153 | 22208 | SH |  | SOLE |  | 22208 | 0 | 0 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 402750 | 25000 | SH | Call | SOLE |  | 25000 | 0 | 0 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 2941444 | 182585 | SH |  | SOLE |  | 182585 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 2374240 | 74334 | SH |  | SOLE |  | 74334 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 238451 | 4057 | SH |  | SOLE |  | 4057 | 0 | 0 |
| CREDIT SUISSE GROUP | SPONSORED ADR | 225401108 |  | 1575009 | 518095 | SH |  | SOLE |  | 518095 | 0 | 0 |
| CRISPR THERAPEUTICS AG | NAMEN AKT | H17182108 |  | 447760 | 11015 | SH |  | SOLE |  | 11015 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 2580642 | 92100 | SH | Call | SOLE |  | 92100 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 1457040 | 52000 | SH |  | SOLE |  | 52000 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 46017716 | 1047047 | SH |  | SOLE |  | 1047047 | 0 | 0 |
| DIMENSIONAL ETF TRUST | INTERNATNAL VAL | 25434V807 |  | 34528958 | 1135821 | SH |  | SOLE |  | 1135821 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 405960 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| ETF MANAGERS TR | PRIME CYBR SCRTY | 26924G201 |  | 881000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| FORD MTR CO DEL | COM | 345370860 |  | 6114170 | 525724 | SH |  | SOLE |  | 525724 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 5365600 | 141200 | SH | Call | SOLE |  | 141200 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 58518328 | 1539956 | SH |  | SOLE |  | 1539956 | 0 | 0 |
| GERDAU SA | SPON ADR REP PFD | 373737105 |  | 510583 | 92163 | SH |  | SOLE |  | 92163 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 23006460 | 67000 | SH |  | SOLE |  | 67000 | 0 | 0 |
| ING GROEP N.V. | SPONSORED ADR | 456837103 |  | 2700523 | 221900 | SH | Call | SOLE |  | 221900 | 0 | 0 |
| ING GROEP N.V. | SPONSORED ADR | 456837103 |  | 31520300 | 2590000 | SH |  | SOLE |  | 2590000 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 264300 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 624118 | 23614 | SH |  | SOLE |  | 23614 | 0 | 0 |
| INVESCO CURRENCYSHARES EURO | EURO SHS | 46138K103 |  | 2470000 | 25000 | SH | Call | SOLE |  | 25000 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SOLAR ETF | 46138G706 |  | 1823500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 3107500 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1331400 | 5000 | SH | Put | SOLE |  | 5000 | 0 | 0 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 13425600 | 480000 | SH | Call | SOLE |  | 480000 | 0 | 0 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 101629107 | 3633504 | SH |  | SOLE |  | 3633504 | 0 | 0 |
| ISHARES INC | MSCI STH KOR ETF | 464286772 |  | 847200 | 15000 | SH | Call | SOLE |  | 15000 | 0 | 0 |
| ISHARES INC | MSCI STH KOR ETF | 464286772 |  | 2463036 | 43609 | SH |  | SOLE |  | 43609 | 0 | 0 |
| ISHARES INC | MSCI GERMANY ETF | 464286806 |  | 1236500 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 1518357 | 32513 | SH |  | SOLE |  | 32513 | 0 | 0 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 7184882 | 131978 | SH |  | SOLE |  | 131978 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 1415000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 379000 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 3156767 | 83292 | SH |  | SOLE |  | 83292 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 5077560 | 51000 | SH | Call | SOLE |  | 51000 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 4081960 | 41000 | SH |  | SOLE |  | 41000 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 378435 | 5765 | SH |  | SOLE |  | 5765 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 33259958 | 253332 | SH |  | SOLE |  | 253332 | 0 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 2941052 | 21209 | SH |  | SOLE |  | 21209 | 0 | 0 |
| ISHARES TR | MSCI UK ETF NEW | 46435G334 |  | 1839600 | 60000 | SH | Call | SOLE |  | 60000 | 0 | 0 |
| JETBLUE AWYS CORP | COM | 477143101 |  | 95256 | 14700 | SH | Call | SOLE |  | 14700 | 0 | 0 |
| JETBLUE AWYS CORP | COM | 477143101 |  | 3521595 | 543456 | SH |  | SOLE |  | 543456 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 34101317 | 254298 | SH |  | SOLE |  | 254298 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 15081200 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| LAM RESEARCH CORP | COM | 512807108 |  | 9170946 | 21820 | SH |  | SOLE |  | 21820 | 0 | 0 |
| LITHIUM AMERS CORP NEW | COM NEW | 53680Q207 |  | 758000 | 40000 | SH | Call | SOLE |  | 40000 | 0 | 0 |
| MADRIGAL PHARMACEUTICALS INC | COM | 558868105 |  | 290250 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 760653 | 20536 | SH |  | SOLE |  | 20536 | 0 | 0 |
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 |  | 345000 | 30000 | SH | Call | SOLE |  | 30000 | 0 | 0 |
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 |  | 3339600 | 290400 | SH |  | SOLE |  | 290400 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 15056375 | 301248 | SH |  | SOLE |  | 301248 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 4396479 | 18332 | SH |  | SOLE |  | 18332 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 424710 | 3000 | SH | Put | SOLE |  | 3000 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 884131 | 20153 | SH |  | SOLE |  | 20153 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 954940 | 13076 | SH |  | SOLE |  | 13076 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 22057275 | 139577 | SH |  | SOLE |  | 139577 | 0 | 0 |
| PARDES BIOSCIENCES INC | COM | 69945Q105 |  | 50700 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 |  | 532500 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 |  | 386222 | 36265 | SH |  | SOLE |  | 36265 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 227996 | 2074 | SH |  | SOLE |  | 2074 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 699760 | 8000 | SH | Call | SOLE |  | 8000 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 21204827 | 242424 | SH |  | SOLE |  | 242424 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 391690 | 11453 | SH |  | SOLE |  | 11453 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 508920 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 10423990 | 351094 | SH |  | SOLE |  | 351094 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 65395530 | 171000 | SH | Put | SOLE |  | 171000 | 0 | 0 |
| SPDR SER TR | S REGL BKG | 78464A698 |  | 5839276 | 99409 | SH |  | SOLE |  | 99409 | 0 | 0 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 43610020 | 525422 | SH |  | SOLE |  | 525422 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 14711980 | 389000 | SH | Call | SOLE |  | 389000 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 49165017 | 1299974 | SH |  | SOLE |  | 1299974 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 402189 | 23700 | SH | Call | SOLE |  | 23700 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 16699549 | 984063 | SH |  | SOLE |  | 984063 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 1719600 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 356500 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |
| VANECK ETF TRUST | JP MRGAN EM LOC | 92189H300 |  | 242300 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| VANGUARD ADMIRAL FDS INC | 500 VAL IDX FD | 921932703 |  | 451423 | 3223 | SH |  | SOLE |  | 3223 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1038022 | 2954 | SH |  | SOLE |  | 2954 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 46440034 | 563046 | SH |  | SOLE |  | 563046 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 51837151 | 326430 | SH |  | SOLE |  | 326430 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 111598782 | 795033 | SH |  | SOLE |  | 795033 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1544600407 | 8078877 | SH |  | SOLE |  | 8078877 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | GLB EX US ETF | 922042676 |  | 3035720 | 73433 | SH |  | SOLE |  | 73433 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 262806566 | 6742087 | SH |  | SOLE |  | 6742087 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 524625 | 12500 | SH | Call | SOLE |  | 12500 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 806521122 | 19216610 | SH |  | SOLE |  | 19216610 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 2324625 | 21483 | SH |  | SOLE |  | 21483 | 0 | 0 |
| VANGUARD WHITEHALL FDS | INTL HIGH ETF | 921946794 |  | 5999076 | 100706 | SH |  | SOLE |  | 100706 | 0 | 0 |

---