# EDGAR Filing Document

**Accession Number:** 0001659171
**File Stem:** 0001398344-25-019122
**Filing Date:** 2025-10
**Character Count:** 19544
**Document Hash:** 9bb97172f10540a92856c702fa270359
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-019122.hdr.sgml**: 20251014

**ACCESSION NUMBER**: 0001398344-25-019122

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251014

**DATE AS OF CHANGE**: 20251014

**EFFECTIVENESS DATE**: 20251014

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BigSur Wealth Management LLC
- **CENTRAL INDEX KEY:** 0001659171

**ORGANIZATION NAME:**
- **EIN:** 261297746
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17671
- **FILM NUMBER:** 251390503

**BUSINESS ADDRESS:**
- **STREET 1:** 1441 BRICKELL AVENUE, SUITE 1450
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131
- **BUSINESS PHONE:** 786-220-0411

**MAIL ADDRESS:**
- **STREET 1:** 1441 BRICKELL AVENUE, SUITE 1450
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131

### 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:** BigSur Wealth Management LLC<br>**Address:** 1441 BRICKELL AVENUE SUITE 1450<br>MIAMI, FL 33131

**Form 13F File Number:** 028-17671

**CRD Number (if applicable):** 000146511

**SEC File Number (if applicable):** 801-69024

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:** Pablo Brezman<br>**Title:** Chief Compliance Officer<br>**Phone:** 305-740-6777

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

/s/ Pablo Brezman  Miami, FL  10-13-2025<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:** 159

**Form 13F Information Table Value Total:** $408279433

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 269621 | 2013 | SH |  | SOLE |  | 0 | 0 | 2013 |
| ABBVIE INC | COM | 00287Y109 |  | 775427 | 3349 | SH |  | SOLE |  | 0 | 0 | 3349 |
| ADOBE INC | COM | 00724F101 |  | 705500 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 3776565 | 21130 | SH |  | SOLE |  | 0 | 0 | 21130 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 7544852 | 31036 | SH |  | SOLE |  | 0 | 0 | 31036 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 6141113 | 25215 | SH |  | SOLE |  | 0 | 0 | 25215 |
| AMAZON COM INC | COM | 023135106 |  | 6425277 | 29263 | SH |  | SOLE |  | 0 | 0 | 29263 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 715140 | 2153 | SH |  | SOLE |  | 0 | 0 | 2153 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 533080 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| APPLE INC | COM | 037833100 |  | 9027397 | 35453 | SH |  | SOLE |  | 0 | 0 | 35453 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 230405 | 238 | SH |  | SOLE |  | 0 | 0 | 238 |
| AMERICAN CENTY ETF TR | US SML CP VALU | 025072877 |  | 1599129 | 16067 | SH |  | SOLE |  | 0 | 0 | 16067 |
| BANCO SANTANDER S.A. | ADR | 05964H105 |  | 136093 | 12986 | SH |  | SOLE |  | 0 | 0 | 12986 |
| BANK AMERICA CORP | COM | 060505104 |  | 2107452 | 40850 | SH |  | SOLE |  | 0 | 0 | 40850 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 24134400 | 32 | SH |  | SOLE |  | 0 | 0 | 32 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 6532604 | 12994 | SH |  | SOLE |  | 0 | 0 | 12994 |
| BITMINE IMMERSION TECNOLOGIE | COM NEW | 09175A206 |  | 285615 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| BLACKROCK ETF TRUST | ISHARES US EQUIT | 09290C103 |  | 1928322 | 32573 | SH |  | SOLE |  | 0 | 0 | 32573 |
| BLACKSTONE INC | COM | 09260D107 |  | 9650804 | 56487 | SH |  | SOLE |  | 0 | 0 | 56487 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 3247076 | 120979 | SH |  | SOLE |  | 0 | 0 | 120979 |
| BOEING CO | COM | 097023105 |  | 1010084 | 4680 | SH |  | SOLE |  | 0 | 0 | 4680 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 730620 | 16200 | SH |  | SOLE |  | 0 | 0 | 16200 |
| BROADCOM INC | COM | 11135F101 |  | 3397083 | 10297 | SH |  | SOLE |  | 0 | 0 | 10297 |
| CHEVRON CORP NEW | COM | 166764100 |  | 613396 | 3950 | SH |  | SOLE |  | 0 | 0 | 3950 |
| CINTAS CORP | COM | 172908105 |  | 4506483 | 21955 | SH |  | SOLE |  | 0 | 0 | 21955 |
| CISCO SYS INC | COM | 17275R102 |  | 513150 | 7500 | SH |  | SOLE |  | 0 | 0 | 7500 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2862048 | 3092 | SH |  | SOLE |  | 0 | 0 | 3092 |
| DANAHER CORPORATION | COM | 235851102 |  | 2207217 | 11115 | SH |  | SOLE |  | 0 | 0 | 11115 |
| DBX ETF TR | XTRACK MSCI EURP | 233051853 |  | 761897 | 16545 | SH |  | SOLE |  | 0 | 0 | 16545 |
| D R HORTON INC | COM | 23331A109 |  | 305046 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| EATON CORP PLC | SHS | G29183103 |  | 361900 | 967 | SH |  | SOLE |  | 0 | 0 | 967 |
| ELI LILLY  CO | COM | 532457108 |  | 1785420 | 2340 | SH |  | SOLE |  | 0 | 0 | 2340 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 3346230 | 37455 | SH |  | SOLE |  | 0 | 0 | 37455 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 514800 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| ESTABLISHMENT LABS HLDGS INC | COM | G31249108 |  | 819062 | 19982 | SH |  | SOLE |  | 0 | 0 | 19982 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1533175 | 13598 | SH |  | SOLE |  | 0 | 0 | 13598 |
| FEDEX CORP | COM | 31428X106 |  | 265731 | 1120 | SH |  | SOLE |  | 0 | 0 | 1120 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 1274650 | 32500 | SH |  | SOLE |  | 0 | 0 | 32500 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 300400 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| GE VERNOVA INC | COM | 36828A101 |  | 4828810 | 7853 | SH |  | SOLE |  | 0 | 0 | 7853 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 1602700 | 4700 | SH |  | SOLE |  | 0 | 0 | 4700 |
| GE AEROSPACE | COM NEW | 369604301 |  | 4649316 | 15437 | SH |  | SOLE |  | 0 | 0 | 15437 |
| GLOBAL X FDS | DEFENSE TECH ETF | 37960A529 |  | 930329 | 13245 | SH |  | SOLE |  | 0 | 0 | 13245 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 |  | 1467480 | 30810 | SH |  | SOLE |  | 0 | 0 | 30810 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 4984355 | 6259 | SH |  | SOLE |  | 0 | 0 | 6259 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 557845 | 29500 | SH |  | SOLE |  | 0 | 0 | 29500 |
| HOME DEPOT INC | COM | 437076102 |  | 3483418 | 8597 | SH |  | SOLE |  | 0 | 0 | 8597 |
| HONEYWELL INTL INC | COM | 438516106 |  | 5177879 | 24598 | SH |  | SOLE |  | 0 | 0 | 24598 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C656 |  | 687200 | 16000 | SH |  | SOLE |  | 0 | 0 | 16000 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C318 |  | 58343 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C573 |  | 170563 | 4154 | SH |  | SOLE |  | 0 | 0 | 4154 |
| INNOVATOR ETFS TRUST | US EQTY PWR BF | 45782C680 |  | 196891 | 4636 | SH |  | SOLE |  | 0 | 0 | 4636 |
| INVESCO EXCHANGE TRADED FD T | AEROSPACE DEFN | 46137V100 |  | 1831512 | 11782 | SH |  | SOLE |  | 0 | 0 | 11782 |
| INVESCO EXCHANGE TRADED FD T | BUYBACK ACHIEV | 46137V308 |  | 649152 | 4900 | SH |  | SOLE |  | 0 | 0 | 4900 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1553770 | 2585 | SH |  | SOLE |  | 0 | 0 | 2585 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 |  | 1003050 | 22500 | SH |  | SOLE |  | 0 | 0 | 22500 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 2899375 | 15284 | SH |  | SOLE |  | 0 | 0 | 15284 |
| INVESCO EXCHANGE TRADED FD T | S PUR VAL | 46137V258 |  | 3401991 | 34232 | SH |  | SOLE |  | 0 | 0 | 34232 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 1191053 | 8250 | SH |  | SOLE |  | 0 | 0 | 8250 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 16996395 | 261483 | SH |  | SOLE |  | 0 | 0 | 261483 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 1502697 | 22820 | SH |  | SOLE |  | 0 | 0 | 22820 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 599616 | 14575 | SH |  | SOLE |  | 0 | 0 | 14575 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 570208 | 8650 | SH |  | SOLE |  | 0 | 0 | 8650 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2072005 | 31750 | SH |  | SOLE |  | 0 | 0 | 31750 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 178245 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 4801052 | 22943 | SH |  | SOLE |  | 0 | 0 | 22943 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 2138540 | 23000 | SH |  | SOLE |  | 0 | 0 | 23000 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 397026 | 12600 | SH |  | SOLE |  | 0 | 0 | 12600 |
| ISHARES TR | GLOBAL 100 ETF | 464287572 |  | 609171 | 5076 | SH |  | SOLE |  | 0 | 0 | 5076 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 479817 | 5260 | SH |  | SOLE |  | 0 | 0 | 5260 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 82944 | 600 | SH |  | SOLE |  | 0 | 0 | 600 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 248000 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 2515201 | 26938 | SH |  | SOLE |  | 0 | 0 | 26938 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 977220 | 18300 | SH |  | SOLE |  | 0 | 0 | 18300 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 151222 | 2240 | SH |  | SOLE |  | 0 | 0 | 2240 |
| ISHARES INC | MSCI GERMANY ETF | 464286806 |  | 2462480 | 59180 | SH |  | SOLE |  | 0 | 0 | 59180 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 624720 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| ISHARES INC | MSCI ISRAEL ETF | 464286632 |  | 300900 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| ISHARES TR | ESG MSCI KLD 400 | 464288570 |  | 2519000 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| ISHARES INC | MSCI PAC JP ETF | 464286665 |  | 50529 | 980 | SH |  | SOLE |  | 0 | 0 | 980 |
| ISHARES INC | MSCI STH KOR ETF | 464286772 |  | 60075 | 750 | SH |  | SOLE |  | 0 | 0 | 750 |
| ISHARES TR | ESG OPTIMIZED | 464288802 |  | 4340800 | 32000 | SH |  | SOLE |  | 0 | 0 | 32000 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 2334000 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 2523498 | 12395 | SH |  | SOLE |  | 0 | 0 | 12395 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 653292 | 2700 | SH |  | SOLE |  | 0 | 0 | 2700 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 12012398 | 31700 | SH |  | SOLE |  | 0 | 0 | 31700 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 1755335 | 8500 | SH |  | SOLE |  | 0 | 0 | 8500 |
| ISHARES TR | GLB INFRASTR ETF | 464288372 |  | 1084880 | 17750 | SH |  | SOLE |  | 0 | 0 | 17750 |
| ISHARES TR | US HLTHCARE ETF | 464287762 |  | 117440 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1025743 | 5532 | SH |  | SOLE |  | 0 | 0 | 5532 |
| J P MORGAN EXCHANGE TRADED F | JPMORGAN INTL VL | 46654Q757 |  | 848250 | 11250 | SH |  | SOLE |  | 0 | 0 | 11250 |
| J P MORGAN EXCHANGE TRADED F | BETABULDRS JAPAN | 46641Q217 |  | 6637969 | 100090 | SH |  | SOLE |  | 0 | 0 | 100090 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 11537168 | 36576 | SH |  | SOLE |  | 0 | 0 | 36576 |
| LINDE PLC | SHS | G54950103 |  | 309225 | 651 | SH |  | SOLE |  | 0 | 0 | 651 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 2136619 | 4280 | SH |  | SOLE |  | 0 | 0 | 4280 |
| MCDONALDS CORP | COM | 580135101 |  | 1607882 | 5291 | SH |  | SOLE |  | 0 | 0 | 5291 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 345420 | 3600 | SH |  | SOLE |  | 0 | 0 | 3600 |
| MERCK  CO INC | COM | 58933Y105 |  | 3652168 | 43050 | SH |  | SOLE |  | 0 | 0 | 43050 |
| META PLATFORMS INC | CL A | 30303M102 |  | 4773470 | 6500 | SH |  | SOLE |  | 0 | 0 | 6500 |
| MICROSOFT CORP | COM | 594918104 |  | 4098538 | 7913 | SH |  | SOLE |  | 0 | 0 | 7913 |
| NEWMONT CORP | COM | 651639106 |  | 961134 | 11400 | SH |  | SOLE |  | 0 | 0 | 11400 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 607845 | 8052 | SH |  | SOLE |  | 0 | 0 | 8052 |
| NIKE INC | CL B | 654106103 |  | 280520 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 365592 | 600 | SH |  | SOLE |  | 0 | 0 | 600 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 15654225 | 83896 | SH |  | SOLE |  | 0 | 0 | 83896 |
| ORACLE CORP | COM | 68389X105 |  | 370956 | 1319 | SH |  | SOLE |  | 0 | 0 | 1319 |
| PACER FDS TR | DEVELOPED MRKT | 69374H873 |  | 1893039 | 51978 | SH |  | SOLE |  | 0 | 0 | 51978 |
| PACER FDS TR | METAURUS CAP 400 | 69374H436 |  | 463609 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| PACER FDS TR | US CASH COWS 100 | 69374H881 |  | 1100816 | 19155 | SH |  | SOLE |  | 0 | 0 | 19155 |
| PACER FDS TR | US SMALL CAP CAS | 69374H857 |  | 653635 | 14930 | SH |  | SOLE |  | 0 | 0 | 14930 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 8788239 | 43160 | SH |  | SOLE |  | 0 | 0 | 43160 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 664554 | 6600 | SH |  | SOLE |  | 0 | 0 | 6600 |
| QUALCOMM INC | COM | 747525103 |  | 282812 | 1700 | SH |  | SOLE |  | 0 | 0 | 1700 |
| RTX CORPORATION | COM | 75513E101 |  | 4005044 | 23935 | SH |  | SOLE |  | 0 | 0 | 23935 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 581618 | 1664 | SH |  | SOLE |  | 0 | 0 | 1664 |
| LISTED FDS TR | ROUNDHILL MAGNIF | 53656G498 |  | 778320 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| SALESFORCE INC | COM | 79466L302 |  | 2612158 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 807462 | 23300 | SH |  | SOLE |  | 0 | 0 | 23300 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 954700 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 932944 | 10410 | SH |  | SOLE |  | 0 | 0 | 10410 |
| SHELL PLC | SPON ADS | 780259305 |  | 471097 | 6586 | SH |  | SOLE |  | 0 | 0 | 6586 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 |  | 746381 | 25925 | SH |  | SOLE |  | 0 | 0 | 25925 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 892445 | 1919 | SH |  | SOLE |  | 0 | 0 | 1919 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 1976495 | 4250 | SH |  | SOLE |  | 0 | 0 | 4250 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 3817767 | 70870 | SH |  | SOLE |  | 0 | 0 | 70870 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 5159647 | 14515 | SH |  | SOLE |  | 0 | 0 | 14515 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 5338561 | 38360 | SH |  | SOLE |  | 0 | 0 | 38360 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 2699025 | 17500 | SH |  | SOLE |  | 0 | 0 | 17500 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 35099551 | 52554 | SH |  | SOLE |  | 0 | 0 | 52554 |
| SPDR SERIES TRUST | S BK ETF | 78464A797 |  | 173804 | 2925 | SH |  | SOLE |  | 0 | 0 | 2925 |
| SPDR SERIES TRUST | S BIOTECH | 78464A870 |  | 651300 | 6500 | SH |  | SOLE |  | 0 | 0 | 6500 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 860614 | 1440 | SH |  | SOLE |  | 0 | 0 | 1440 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 7647426 | 27132 | SH |  | SOLE |  | 0 | 0 | 27132 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1880810 | 6712 | SH |  | SOLE |  | 0 | 0 | 6712 |
| TESLA INC | COM | 88160R101 |  | 440718 | 991 | SH |  | SOLE |  | 0 | 0 | 991 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 454410 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| TOYOTA MOTOR CORP | ADS | 892331307 |  | 854172 | 4470 | SH |  | SOLE |  | 0 | 0 | 4470 |
| UNION PAC CORP | COM | 907818108 |  | 791603 | 3349 | SH |  | SOLE |  | 0 | 0 | 3349 |
| UNITED STS COMMODITY INDEX F | CM REP COPP FD | 911718104 |  | 610170 | 20339 | SH |  | SOLE |  | 0 | 0 | 20339 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 3261013 | 9444 | SH |  | SOLE |  | 0 | 0 | 9444 |
| VANECK ETF TRUST | AGRIBUSINESS ETF | 92189F700 |  | 25708 | 350 | SH |  | SOLE |  | 0 | 0 | 350 |
| VANECK ETF TRUST | OIL SERVICES ETF | 92189H607 |  | 1501760 | 5778 | SH |  | SOLE |  | 0 | 0 | 5778 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 2704560 | 35400 | SH |  | SOLE |  | 0 | 0 | 35400 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 844872 | 14100 | SH |  | SOLE |  | 0 | 0 | 14100 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 2714418 | 50100 | SH |  | SOLE |  | 0 | 0 | 50100 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 15402198 | 193010 | SH |  | SOLE |  | 0 | 0 | 193010 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 960520 | 3700 | SH |  | SOLE |  | 0 | 0 | 3700 |
| VANGUARD WHITEHALL FDS | INTL HIGH ETF | 921946794 |  | 1532778 | 18101 | SH |  | SOLE |  | 0 | 0 | 18101 |
| VANGUARD INTL EQUITY INDEX F | FTSE PACIFIC ETF | 922042866 |  | 1581120 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 1565090 | 7466 | SH |  | SOLE |  | 0 | 0 | 7466 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 220067 | 1597 | SH |  | SOLE |  | 0 | 0 | 1597 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1531335 | 4653 | SH |  | SOLE |  | 0 | 0 | 4653 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 299893 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| VISA INC | COM CL A | 92826C839 |  | 1471348 | 4310 | SH |  | SOLE |  | 0 | 0 | 4310 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 632841 | 7550 | SH |  | SOLE |  | 0 | 0 | 7550 |
| WISDOMTREE TR | EUROPE HEDGED EQ | 97717X701 |  | 282240 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |
| WISDOMTREE TR | INDIA ERNGS FD | 97717W422 |  | 442000 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 23045 | 180 | SH |  | SOLE |  | 0 | 0 | 180 |
| ISHARES S 500 UCITS ETF DI | Stock | G49507208 |  | 1626955 | 24570 | SH |  | SOLE |  | 0 | 0 | 24570 |

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