# EDGAR Filing Document

**Accession Number:** 0001765876
**File Stem:** 0001765876-26-000003
**Filing Date:** 2026-4
**Character Count:** 20839
**Document Hash:** 210d8de023272e700b1576b018cbfe4f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001765876-26-000003.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001765876-26-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MMBG INVESTMENT ADVISORS CO.
- **CENTRAL INDEX KEY:** 0001765876

**ORGANIZATION NAME:**
- **EIN:** 300953840
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21976
- **FILM NUMBER:** 26921341

**BUSINESS ADDRESS:**
- **STREET 1:** 1221 BRICKELL AVENUE, SUITE 1030
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131
- **BUSINESS PHONE:** 305-374-0704

**MAIL ADDRESS:**
- **STREET 1:** 1221 BRICKELL AVENUE, SUITE 1030
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33131

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** MMBG INVESTMENT ADVISORS CO.<br>**Address:** 1221 BRICKELL AVENUE SUITE 1030<br>MIAMI, FL 33131

**Form 13F File Number:** 028-21976

**CRD Number (if applicable):** 000285263

**SEC File Number (if applicable):** 801-108467

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:** ANDRES AGUILAR<br>**Title:** PRINCIPAL OFFICER AND CHIEF COMPLIANCE OFFICER<br>**Phone:** 305-374-0704

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

ANDRES AGUILAR  MIAMI, FL  04-29-2026<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:** 172

**Form 13F Information Table Value Total:** $1088731783

      (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 |
| ABBVIE INC | COM | 00287Y109 |  | 3722341 | 17115 | SH |  | SOLE |  | 17115 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 6154566 | 49056 | SH |  | SOLE |  | 49056 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 92120709 | 320353 | SH |  | SOLE |  | 320353 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 32193724 | 112228 | SH |  | SOLE |  | 112228 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 82419104 | 395732 | SH |  | SOLE |  | 395732 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 2126581 | 6044 | SH |  | SOLE |  | 6044 | 0 | 0 |
| ANGEL STUDIOS INC | CL A COM | 034948109 |  | 1822506 | 597543 | SH |  | SOLE |  | 597543 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 2897923 | 26009 | SH |  | SOLE |  | 26009 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 100877464 | 397484 | SH |  | SOLE |  | 397484 | 0 | 0 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 |  | 3151500 | 2386 | SH |  | SOLE |  | 2386 | 0 | 0 |
| ASTRAZENECA PLC | ORD | G0593M107 |  | 2165278 | 10979 | SH |  | SOLE |  | 10979 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 10715640 | 219808 | SH |  | SOLE |  | 219808 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 1762128 | 43200 | SH |  | SOLE |  | 43200 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2696938 | 5628 | SH |  | SOLE |  | 5628 | 0 | 0 |
| BETTERWARE DE MEXC S A P I D | SHS | P1666E105 |  | 57818875 | 3429352 | SH |  | SOLE |  | 3429352 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 228796 | 1248 | SH |  | SOLE |  | 1248 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 1639012 | 8235 | SH |  | SOLE |  | 8235 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 16878367 | 54532 | SH |  | SOLE |  | 54532 | 0 | 0 |
| C H ROBINSON WORLDWIDE IN | COM NEW | 12541W209 |  | 533440 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 825274 | 2970 | SH |  | SOLE |  | 2970 | 0 | 0 |
| CEMEX SA EURO MTN BE 144A | SPON ADR NEW | 151290889 |  | 10632645 | 929427 | SH |  | SOLE |  | 929427 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 713805 | 3450 | SH |  | SOLE |  | 3450 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 214424 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| CODERE ONLINE LUXEMBOURG S A | ORDINARY SHARES | L18268109 |  | 3080793 | 366325 | SH |  | SOLE |  | 366325 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 561000 | 3740 | SH |  | SOLE |  | 3740 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 8667945 | 8699 | SH |  | SOLE |  | 8699 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 1750989 | 4485 | SH |  | SOLE |  | 4485 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 840999 | 6070 | SH |  | SOLE |  | 6070 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 204448 | 380 | SH |  | SOLE |  | 380 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 500945 | 6975 | SH |  | SOLE |  | 6975 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 |  | 4958050 | 26095 | SH |  | SOLE |  | 26095 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 1042277 | 1845 | SH |  | SOLE |  | 1845 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 723157 | 4406 | SH |  | SOLE |  | 4406 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 4715584 | 48927 | SH |  | SOLE |  | 48927 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 8429209 | 23567 | SH |  | SOLE |  | 23567 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 8229182 | 8947 | SH |  | SOLE |  | 8947 | 0 | 0 |
| EMBRAER S.A. | SPONSORED ADS | 29082A107 |  | 205020 | 3455 | SH |  | SOLE |  | 3455 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 808767 | 41905 | SH |  | SOLE |  | 41905 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 2936858 | 8212 | SH |  | SOLE |  | 8212 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | DJ INTERNT IDX | 33733E302 |  | 629775 | 2691 | SH |  | SOLE |  | 2691 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | NASDAQ CYB ETF | 33734X846 |  | 1140275 | 18192 | SH |  | SOLE |  | 18192 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SHS | 336917109 |  | 457200 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 |  | 4839784 | 43578 | SH |  | SOLE |  | 43578 | 0 | 0 |
| FREEPORT MCMORAN INC | CL B | 35671D857 |  | 2684777 | 45675 | SH |  | SOLE |  | 45675 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 1131053 | 1295 | SH |  | SOLE |  | 1295 | 0 | 0 |
| GLOBAL X FDS | GLB X MLP ENRG I | 37954Y293 |  | 261748 | 3540 | SH |  | SOLE |  | 3540 | 0 | 0 |
| GLOBAL X FDS | RBTCS ARTFL INTE | 37954Y715 |  | 332200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 30530087 | 36088 | SH |  | SOLE |  | 36088 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 341661 | 93350 | SH |  | SOLE |  | 93350 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 871559 | 2650 | SH |  | SOLE |  | 2650 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 762173 | 3372 | SH |  | SOLE |  | 3372 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 289695 | 670 | SH |  | SOLE |  | 670 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 1202571 | 6266 | SH |  | SOLE |  | 6266 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 8556116 | 14824 | SH |  | SOLE |  | 14824 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 455661 | 11860 | SH |  | SOLE |  | 11860 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 2748150 | 39400 | SH |  | SOLE |  | 39400 | 0 | 0 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 282358 | 7355 | SH |  | SOLE |  | 7355 | 0 | 0 |
| ISHARES INC | MSCI EURZONE ETF | 464286608 |  | 1330160 | 21235 | SH |  | SOLE |  | 21235 | 0 | 0 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 |  | 1858309 | 22007 | SH |  | SOLE |  | 22007 | 0 | 0 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 2208984 | 21945 | SH |  | SOLE |  | 21945 | 0 | 0 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 703742 | 16633 | SH |  | SOLE |  | 16633 | 0 | 0 |
| ISHARES TR | 0-5YR INVT GR CP | 46434V100 |  | 856512 | 16964 | SH |  | SOLE |  | 16964 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 3628869 | 43949 | SH |  | SOLE |  | 43949 | 0 | 0 |
| ISHARES TR | 10-20 YR TRS ETF | 464288653 |  | 351311 | 3488 | SH |  | SOLE |  | 3488 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 489278 | 5644 | SH |  | SOLE |  | 5644 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 2747962 | 23170 | SH |  | SOLE |  | 23170 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 1071696 | 11229 | SH |  | SOLE |  | 11229 | 0 | 0 |
| ISHARES TR | BROAD USD HIGH | 46435U853 |  | 531970 | 14440 | SH |  | SOLE |  | 14440 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 1659212 | 24570 | SH |  | SOLE |  | 24570 | 0 | 0 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 400732 | 3919 | SH |  | SOLE |  | 3919 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1616042 | 2474 | SH |  | SOLE |  | 2474 | 0 | 0 |
| ISHARES TR | ESG MSCI KLD 400 | 464288570 |  | 1670604 | 13785 | SH |  | SOLE |  | 13785 | 0 | 0 |
| ISHARES TR | ESG OPTIMIZED | 464288802 |  | 840817 | 6365 | SH |  | SOLE |  | 6365 | 0 | 0 |
| ISHARES TR | EUROPE ETF | 464287861 |  | 380464 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| ISHARES TR | FALN ANGLS USD | 46435G474 |  | 435269 | 16290 | SH |  | SOLE |  | 16290 | 0 | 0 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 786413 | 15435 | SH |  | SOLE |  | 15435 | 0 | 0 |
| ISHARES TR | GLOB HLTHCRE ETF | 464287325 |  | 364806 | 3900 | SH |  | SOLE |  | 3900 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 304317 | 3825 | SH |  | SOLE |  | 3825 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 813937 | 7468 | SH |  | SOLE |  | 7468 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 6380335 | 37787 | SH |  | SOLE |  | 37787 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 2097775 | 39912 | SH |  | SOLE |  | 39912 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 1061691 | 11303 | SH |  | SOLE |  | 11303 | 0 | 0 |
| ISHARES TR | MBS ETF | 464288588 |  | 337167 | 3551 | SH |  | SOLE |  | 3551 | 0 | 0 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 1575304 | 16360 | SH |  | SOLE |  | 16360 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 300563 | 5350 | SH |  | SOLE |  | 5350 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 383664 | 3950 | SH |  | SOLE |  | 3950 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 413147 | 7275 | SH |  | SOLE |  | 7275 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 254760 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 2219576 | 73205 | SH |  | SOLE |  | 73205 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 839394 | 1969 | SH |  | SOLE |  | 1969 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 269216 | 1275 | SH |  | SOLE |  | 1275 | 0 | 0 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 |  | 2875108 | 26045 | SH |  | SOLE |  | 26045 | 0 | 0 |
| ISHARES TR | U.S. FINLS ETF | 464287788 |  | 1706188 | 14501 | SH |  | SOLE |  | 14501 | 0 | 0 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 556707 | 10435 | SH |  | SOLE |  | 10435 | 0 | 0 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 2719667 | 14991 | SH |  | SOLE |  | 14991 | 0 | 0 |
| ISHARES TR | US HLTHCARE ETF | 464287762 |  | 1693251 | 27470 | SH |  | SOLE |  | 27470 | 0 | 0 |
| ISHARES TR | US INDUSTRIALS | 464287754 |  | 2114248 | 14330 | SH |  | SOLE |  | 14330 | 0 | 0 |
| ISHARES TR | US TRSPRTION | 464287192 |  | 841488 | 11280 | SH |  | SOLE |  | 11280 | 0 | 0 |
| ISHARES TR | USD INV GRDE ETF | 464288620 |  | 1423938 | 27795 | SH |  | SOLE |  | 27795 | 0 | 0 |
| ISHARES U S ETF TR | U.S. TECH INDEPD | 46431W648 |  | 333546 | 3774 | SH |  | SOLE |  | 3774 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 636033 | 2602 | SH |  | SOLE |  | 2602 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 42365294 | 144021 | SH |  | SOLE |  | 144021 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 765096 | 14200 | SH |  | SOLE |  | 14200 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 306353 | 2001 | SH |  | SOLE |  | 2001 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1513970 | 3030 | SH |  | SOLE |  | 3030 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 4551209 | 14644 | SH |  | SOLE |  | 14644 | 0 | 0 |
| MERCADOLIBRE | INC               COM | 58733R102 |  | 5536322 | 3202 | SH |  | SOLE |  | 3202 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 2733282 | 22563 | SH |  | SOLE |  | 22563 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 48505181 | 84780 | SH |  | SOLE |  | 84780 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 14503151 | 42910 | SH |  | SOLE |  | 42910 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 72416972 | 195632 | SH |  | SOLE |  | 195632 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 5694965 | 59230 | SH |  | SOLE |  | 59230 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 784063 | 14702 | SH |  | SOLE |  | 14702 | 0 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 227903 | 1492 | SH |  | SOLE |  | 1492 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 667087 | 17570 | SH |  | SOLE |  | 17570 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 483622 | 33655 | SH |  | SOLE |  | 33655 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 46098287 | 264310 | SH |  | SOLE |  | 264310 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 279134 | 8205 | SH |  | SOLE |  | 8205 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1463303 | 9947 | SH |  | SOLE |  | 9947 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1405365 | 8766 | SH |  | SOLE |  | 8766 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 389068 | 8602 | SH |  | SOLE |  | 8602 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 261377 | 9308 | SH |  | SOLE |  | 9308 | 0 | 0 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 357526 | 3555 | SH |  | SOLE |  | 3555 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 285877 | 370 | SH |  | SOLE |  | 370 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 5433993 | 28170 | SH |  | SOLE |  | 28170 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 1945931 | 4575 | SH |  | SOLE |  | 4575 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 11457991 | 61381 | SH |  | SOLE |  | 61381 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 204458 | 2469 | SH |  | SOLE |  | 2469 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET COM | 81369Y852 |  | 681789 | 6150 | SH |  | SOLE |  | 6150 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y407 |  | 6280081 | 57626 | SH |  | SOLE |  | 57626 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 4148352 | 50602 | SH |  | SOLE |  | 50602 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 5159317 | 84220 | SH |  | SOLE |  | 84220 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 10800582 | 218768 | SH |  | SOLE |  | 218768 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 25011696 | 170600 | SH |  | SOLE |  | 170600 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET IND | 81369Y704 |  | 2718681 | 16810 | SH |  | SOLE |  | 16810 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET MAT | 81369Y100 |  | 1257245 | 25160 | SH |  | SOLE |  | 25160 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 6298461 | 47392 | SH |  | SOLE |  | 47392 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 2379035 | 22755 | SH |  | SOLE |  | 22755 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 9220926 | 77735 | SH |  | SOLE |  | 77735 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 313706 | 2080 | SH |  | SOLE |  | 2080 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2502136 | 5815 | SH |  | SOLE |  | 5815 | 0 | 0 |
| SPDR INDEX SHS FDS | STATE STREET SPD | 78463X202 |  | 1291823 | 20809 | SH |  | SOLE |  | 20809 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 |  | 581273 | 6343 | SH |  | SOLE |  | 6343 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A474 |  | 833691 | 27725 | SH |  | SOLE |  | 27725 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 1931397 | 3983 | SH |  | SOLE |  | 3983 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 5008708 | 55907 | SH |  | SOLE |  | 55907 | 0 | 0 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 437456 | 24715 | SH |  | SOLE |  | 24715 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 13992144 | 21454 | SH |  | SOLE |  | 21454 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 15434698 | 45545 | SH |  | SOLE |  | 45545 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 567291 | 1526 | SH |  | SOLE |  | 1526 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 7923660 | 16105 | SH |  | SOLE |  | 16105 | 0 | 0 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 605958 | 3005 | SH |  | SOLE |  | 3005 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 9484474 | 131857 | SH |  | SOLE |  | 131857 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 4561606 | 16858 | SH |  | SOLE |  | 16858 | 0 | 0 |
| URBAN OUTFITTERS INC | COM | 917047102 |  | 495080 | 7815 | SH |  | SOLE |  | 7815 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 1543113 | 16815 | SH |  | SOLE |  | 16815 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 15053434 | 39263 | SH |  | SOLE |  | 39263 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 10084254 | 16876 | SH |  | SOLE |  | 16876 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 282313 | 880 | SH |  | SOLE |  | 880 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 539960 | 9990 | SH |  | SOLE |  | 9990 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 3447305 | 41821 | SH |  | SOLE |  | 41821 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 880923 | 14793 | SH |  | SOLE |  | 14793 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 972642 | 16615 | SH |  | SOLE |  | 16615 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 2179370 | 27493 | SH |  | SOLE |  | 27493 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 563521 | 3805 | SH |  | SOLE |  | 3805 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 5058470 | 7250 | SH |  | SOLE |  | 7250 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 13696610 | 45317 | SH |  | SOLE |  | 45317 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 20690369 | 166151 | SH |  | SOLE |  | 166151 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 978905 | 4260 | SH |  | SOLE |  | 4260 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 339465 | 1255 | SH |  | SOLE |  | 1255 | 0 | 0 |
| WISDOMTREE TR | EUROPE HEDGED EQ | 97717X701 |  | 679377 | 12990 | SH |  | SOLE |  | 12990 | 0 | 0 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 5616428 | 35417 | SH |  | SOLE |  | 35417 | 0 | 0 |

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