# EDGAR Filing Document

**Accession Number:** 0001569579
**File Stem:** 0001569579-26-000002
**Filing Date:** 2026-5
**Character Count:** 40338
**Document Hash:** 1c825550aea984f940d315e6372d5c7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001569579-26-000002.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001569579-26-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**EFFECTIVENESS DATE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BTG Pactual Asset Management US LLC
- **CENTRAL INDEX KEY:** 0001569579

**ORGANIZATION NAME:**
- **EIN:** 800260014
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15216
- **FILM NUMBER:** 26976860

**BUSINESS ADDRESS:**
- **STREET 1:** 601 LEXINGTON AVENUE
- **STREET 2:** 57TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 2122934658

**MAIL ADDRESS:**
- **STREET 1:** 601 LEXINGTON AVENUE
- **STREET 2:** 57TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### 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:** BTG Pactual Asset Management US LLC<br>**Address:** 601 LEXINGTON AVENUE<br>57TH FLOOR<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-15216

**CRD Number (if applicable):** 000152538

**SEC File Number (if applicable):** 801-71004

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:** Dagmara Frankowska<br>**Title:** Chief Compliance Officer<br>**Phone:** 212-293-4600

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

/s/Dagmara Frankowska  New York, NY  05-14-2026<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:** 2

**Form 13F Information Table Entry Total:** 330

**Form 13F Information Table Value Total:** $1155666484

      (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.]

| No.   | Name                                   | Form 13F File Number   |
|:---|:---|:---|
|  | BTG PACTUAL (UK) Ltd                   | 028-15217              |
|  | BTG Pactual Asset Management S.A. DTVM | 028-15342              |

### 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 | BBG0025Y4RZ3 | 6193245 | 28476 | SH |  | SOLE |  | 28476 | 0 | 0 |
| ABM INDS INC | COM | 000957100 | BBG001S5N9B8 | 218254 | 5666 | SH |  | SOLE |  | 5666 | 0 | 0 |
| ABRDN INCOME CREDIT STRATEGI | COM | 003057106 | BBG001TCSLH4 | 52836 | 10360 | SH |  | SOLE |  | 10360 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 | BBG001S6VGG6 | 223505 | 34019 | SH |  | SOLE |  | 34019 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 | BBG001S5NN36 | 694917 | 3416 | SH |  | SOLE |  | 3416 | 0 | 0 |
| AES CORP | COM | 00130H105 | BBG001S6B1L5 | 1690800 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| AFFILIATED MANAGERS GROUP | COM | 008252108 | BBG001S6DMD6 | 205588 | 743 | SH |  | SOLE |  | 743 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | BBG006G2JWB1 | 553404 | 4411 | SH |  | SOLE |  | 4411 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 4484786 | 15596 | SH |  | SOLE |  | 15596 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 21756610 | 75844 | SH |  | SOLE |  | 75844 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 | BBG001TBMNT5 | 2130183 | 40467 | SH |  | SOLE |  | 40467 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 25155059 | 120781 | SH |  | SOLE |  | 120781 | 0 | 0 |
| AMBEV SA | SPONSORED ADR | 02319V103 | BBG005KLVT74 | 256922 | 87987 | SH |  | SOLE |  | 87987 | 0 | 0 |
| AMEREN CORP | COM | 023608102 | BBG001S5NF24 | 14590231 | 132735 | SH |  | SOLE |  | 132735 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 | BBG001S5NFD2 | 12193062 | 93020 | SH |  | SOLE |  | 93020 | 0 | 0 |
| AMNEAL PHARMACEUTICALS INC | COM STK CL A | 03168L105 | BBG00462PGH9 | 221068 | 17785 | SH |  | SOLE |  | 17785 | 0 | 0 |
| AMPHENOL CORP | CL A | 032095101 | BBG001S5NSK6 | 200265 | 1585 | SH |  | SOLE |  | 1585 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 | BBG001S5ND38 | 237969 | 748 | SH |  | SOLE |  | 748 | 0 | 0 |
| ANTERO MIDSTREAM CORP | COM | 03676B102 | BBG00GBNZ4N9 | 254266 | 11152 | SH |  | SOLE |  | 11152 | 0 | 0 |
| ANTERO RESOURCES CORP | COM | 03674X106 | BBG001T61KH8 | 1921726 | 45281 | SH |  | SOLE |  | 45281 | 0 | 0 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 2567847 | 10118 | SH |  | SOLE |  | 10118 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 | BBG006HFPX86 | 862068 | 2166 | SH |  | SOLE |  | 2166 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 | BBG001SL96Z9 | 254821 | 14141 | SH |  | SOLE |  | 14141 | 0 | 0 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 | BBG001SCG0R3 | 957602 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 93609 | 3229 | SH |  | SOLE |  | 3229 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 4348500 | 150000 | SH | Call | SOLE |  | 0 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 4348500 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| AUTOHOME INC | SP ADS RP CL A | 05278C107 | BBG005JYTDP6 | 249155 | 14344 | SH |  | SOLE |  | 14344 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 | BBG001S9YRV6 | 248388 | 2362 | SH |  | SOLE |  | 2362 | 0 | 0 |
| AUTONATION INC | COM | 05329W102 | BBG001S5NQB0 | 240170 | 1230 | SH |  | SOLE |  | 1230 | 0 | 0 |
| AVANTOR INC | COM | 05352A100 | BBG00G2HHYF5 | 121708 | 15524 | SH |  | SOLE |  | 15524 | 0 | 0 |
| AVNET INC | COM | 053807103 | BBG001S5NZJ2 | 200019 | 3246 | SH |  | SOLE |  | 3246 | 0 | 0 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 | BBG001SGW5F8 | 284151 | 2802 | SH |  | SOLE |  | 2802 | 0 | 0 |
| B2GOLD CORP | COM | 11777Q209 | BBG001T0CNW6 | 729769 | 161097 | SH |  | SOLE |  | 161097 | 0 | 0 |
| BAIN CAP SPECIALTY FIN INC | COM STK | 05684B107 | BBG00JDV0M33 | 202802 | 16355 | SH |  | SOLE |  | 16355 | 0 | 0 |
| BANCO BRADESCO S A | SP ADR PFD NEW | 059460303 | BBG001SF7657 | 1805217 | 494580 | SH |  | SOLE |  | 494580 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 505928 | 10378 | SH |  | SOLE |  | 10378 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 | BBG001S5P6Q6 | 2101649 | 17716 | SH |  | SOLE |  | 17716 | 0 | 0 |
| BANK OZK LITTLE ROCK ARK | COM | 06417N103 | BBG001SMRQL8 | 233810 | 5095 | SH |  | SOLE |  | 5095 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 | BBG001S5N9P3 | 2702501 | 66254 | SH |  | SOLE |  | 66254 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 21561604 | 44995 | SH |  | SOLE |  | 44995 | 0 | 0 |
| BLACK HILLS CORP | COM | 092113109 | BBG001S5P6X8 | 2845879 | 41001 | SH |  | SOLE |  | 41001 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES HIGH YIE | 092528843 | BBG01S6WC186 | 301746 | 6289 | SH |  | SOLE |  | 6289 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 | BBG01PSW2WR0 | 296207 | 308 | SH |  | SOLE |  | 308 | 0 | 0 |
| BLACKROCK LTD DURATION INCOM | COM SHS | 09249W101 | BBG001SLG5M7 | 342826 | 27230 | SH |  | SOLE |  | 27230 | 0 | 0 |
| BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 | BBG001S66J14 | 581529 | 51554 | SH |  | SOLE |  | 51554 | 0 | 0 |
| BLACKROCK MUNIYILD QULT FD I | COM | 09254F100 | BBG001S6Y4Q9 | 309669 | 28203 | SH |  | SOLE |  | 28203 | 0 | 0 |
| BLACKSTONE STRATEGIC CRED 20 | COM SHS BEN IN | 09257R101 | BBG002W5R801 | 325836 | 29223 | SH |  | SOLE |  | 29223 | 0 | 0 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 | BBG00DB0XYD3 | 206280 | 18651 | SH |  | SOLE |  | 18651 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 | BBG001S89N72 | 652600 | 155 | SH |  | SOLE |  | 155 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 | BBG001S63L94 | 1950748 | 21128 | SH |  | SOLE |  | 21128 | 0 | 0 |
| BOYD GAMING CORP | COM | 103304101 | BBG001S7DMW3 | 278590 | 3390 | SH |  | SOLE |  | 3390 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 3157312 | 10201 | SH |  | SOLE |  | 10201 | 0 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 | BBG001S5Q6V9 | 251600 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| CANNAE HLDGS INC | COM | 13765N107 | BBG00GXRNJQ3 | 235518 | 20714 | SH |  | SOLE |  | 20714 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 | BBG001S7PC34 | 236879 | 1121 | SH |  | SOLE |  | 1121 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 | BBG001SB10S0 | 2176472 | 50428 | SH |  | SOLE |  | 50428 | 0 | 0 |
| CHARTER COMMUNICATIONS INC | CL A | 16119P108 | BBG001T3TDG2 | 210915 | 977 | SH |  | SOLE |  | 977 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 | BBG001S67ZC5 | 4396832 | 21251 | SH |  | SOLE |  | 21251 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 | BBG001S72ZG4 | 581226 | 5125 | SH |  | SOLE |  | 5125 | 0 | 0 |
| CITIZENS FINL GROUP INC | COM | 174610105 | BBG006Q0HZT0 | 2827286 | 47145 | SH |  | SOLE |  | 47145 | 0 | 0 |
| CMB.TECH NV | SHS | B38564108 | BBG001SKWXZ6 | 1125888 | 89003 | SH |  | SOLE |  | 89003 | 0 | 0 |
| CMS ENERGY CORP | COM | 125896100 | BBG001S5PYJ3 | 5498327 | 70873 | SH |  | SOLE |  | 70873 | 0 | 0 |
| CNX RES CORP | COM | 12653C108 | BBG001SC7TN4 | 215919 | 5601 | SH |  | SOLE |  | 5601 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 13385 | 176 | SH |  | SOLE |  | 176 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 714870 | 9400 | SH | Call | SOLE |  | 0 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 714870 | 9400 | SH | Put | SOLE |  | 9400 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 | BBG001S5PVM5 | 169522 | 1989 | SH |  | SOLE |  | 1989 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 | BBG001S5PVM5 | 315351 | 3700 | SH | Call | SOLE |  | 0 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 | BBG001S5PVM5 | 315351 | 3700 | SH | Put | SOLE |  | 3700 | 0 | 0 |
| COMPANHIA DE SANEAMENTO BASI | SPONSORED ADR | 20441A102 | BBG001S8LLN4 | 4857223 | 159201 | SH |  | SOLE |  | 159201 | 0 | 0 |
| COMPANIA CERVECERIAS UNIDAS | SPONSORED ADR | 204429104 | BBG001S5VY42 | 273342 | 24083 | SH |  | SOLE |  | 24083 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 | BBG001S5QRL4 | 4576773 | 40438 | SH |  | SOLE |  | 40438 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 | BBG014KFRPJ9 | 6855867 | 24551 | SH |  | SOLE |  | 24551 | 0 | 0 |
| COPA HOLDINGS SA | CL A | P31076105 | BBG001SKXLQ1 | 211087 | 1858 | SH |  | SOLE |  | 1858 | 0 | 0 |
| CORE NATURAL RESOURCES INC | COM SHS | 218937100 | BBG00HC115M9 | 1039655 | 9927 | SH |  | SOLE |  | 9927 | 0 | 0 |
| COSAN S A | ADS | 22113B103 | BBG00YPGPD88 | 1020442 | 247680 | SH |  | SOLE |  | 247680 | 0 | 0 |
| CREDICORP LTD | COM | G2519Y108 | BBG001S8L8P1 | 313402 | 924 | SH |  | SOLE |  | 924 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 | BBG00BLYKRZ7 | 425547 | 1090 | SH |  | SOLE |  | 1090 | 0 | 0 |
| CUMMINS INC | COM | 231021106 | BBG001S5Q9M3 | 255021 | 474 | SH |  | SOLE |  | 474 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 | BBG001S5QBK0 | 237030 | 348 | SH |  | SOLE |  | 348 | 0 | 0 |
| DIMENSIONAL ETF TRUST | INTL HIGH PROFIT | 25434V765 | BBG01636J356 | 513071 | 15924 | SH |  | SOLE |  | 15924 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 12497037 | 202152 | SH |  | SOLE |  | 202152 | 0 | 0 |
| DOUGLAS EMMETT INC | COM | 25960P109 | BBG001SR5X72 | 238514 | 25320 | SH |  | SOLE |  | 25320 | 0 | 0 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 | BBG0112Z58K1 | 302065 | 2243 | SH |  | SOLE |  | 2243 | 0 | 0 |
| ECHOSTAR CORP | CL A | 278768106 | BBG001T048Z5 | 3512100 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| EDISON INTL | COM | 281020107 | BBG001S7MY75 | 250202 | 3419 | SH |  | SOLE |  | 3419 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 | BBG001S5T5C9 | 4689010 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 10981134 | 11939 | SH |  | SOLE |  | 11939 | 0 | 0 |
| ENEL CHILE SA | SPONSORED ADR | 29278D105 | BBG00CMP50J7 | 4293812 | 1089800 | SH |  | SOLE |  | 1089800 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 | BBG001SDHNW4 | 269293 | 13953 | SH |  | SOLE |  | 13953 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 | BBG001S9P0Z1 | 201839 | 5334 | SH |  | SOLE |  | 5334 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG001S5ZB93 | 387592 | 2681 | SH |  | SOLE |  | 2681 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG001S5ZB93 | 3281739 | 22700 | SH | Call | SOLE |  | 0 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG001S5ZB93 | 3281739 | 22700 | SH | Put | SOLE |  | 22700 | 0 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 | BBG00J7CBWL8 | 244184 | 6580 | SH |  | SOLE |  | 6580 | 0 | 0 |
| ESSENTIAL UTILS INC | COM | 29670G102 | BBG001S5VFD3 | 8765651 | 217672 | SH |  | SOLE |  | 217672 | 0 | 0 |
| ETFIS SER TR I | VIRTUS REAVES UT | 26923G806 | BBG00B2VXTZ6 | 6420196 | 80676 | SH |  | SOLE |  | 80676 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 507283 | 2990 | SH |  | SOLE |  | 2990 | 0 | 0 |
| FEDERATED HERMES INC | CL B | 314211103 | BBG001S6TGK4 | 313209 | 5523 | SH |  | SOLE |  | 5523 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | NO AMER ENERGY | 33738D101 | BBG0034YTRP6 | 2508223 | 57449 | SH |  | SOLE |  | 57449 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 | BBG001S5R3N4 | 7218746 | 142494 | SH |  | SOLE |  | 142494 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 | BBG001S87K70 | 610069 | 5984 | SH |  | SOLE |  | 5984 | 0 | 0 |
| FORD MTR CO | COM | 345370860 | BBG001S5TZ33 | 243667 | 21115 | SH |  | SOLE |  | 21115 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 | BBG001S5NKC2 | 749367 | 3460 | SH |  | SOLE |  | 3460 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 | BBG001S5PVD5 | 662035 | 2333 | SH |  | SOLE |  | 2333 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 | BBG013G17W77 | 11435863 | 13101 | SH |  | SOLE |  | 13101 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 | BBG001S5RKR2 | 278331 | 7478 | SH |  | SOLE |  | 7478 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 | BBG001SM1DK6 | 210090 | 2820 | SH |  | SOLE |  | 2820 | 0 | 0 |
| GERDAU SA | SPON ADR REP PFD | 373737105 | BBG001SCL1T3 | 2764986 | 765924 | SH |  | SOLE |  | 765924 | 0 | 0 |
| GLOBAL X FDS | GLB X MLP ENRG I | 37954Y293 | BBG004Y67XK8 | 6249335 | 84519 | SH |  | SOLE |  | 84519 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 1048182 | 1239 | SH |  | SOLE |  | 1239 | 0 | 0 |
| GOLUB CAP BDC INC | COM | 38173M102 | BBG001T63BY7 | 698331 | 729 | SH |  | SOLE |  | 729 | 0 | 0 |
| GRANITE CONSTR INC | COM | 387328107 | BBG001S8WD96 | 247193 | 2062 | SH |  | SOLE |  | 2062 | 0 | 0 |
| GRAPHIC PACKAGING HLDG CO | COM | 388689101 | BBG001S90195 | 208979 | 21024 | SH |  | SOLE |  | 21024 | 0 | 0 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 | BBG001S5RNK3 | 222845 | 674 | SH |  | SOLE |  | 674 | 0 | 0 |
| GRUPO AVAL ACCIONES Y VALORE | SPONSORED ADS | 40053W101 | BBG004T0ZN64 | 157146 | 35715 | SH |  | SOLE |  | 35715 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 | BBG001S8PXF3 | 1500783 | 11098 | SH |  | SOLE |  | 11098 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG001T8NTY2 | 4327780 | 9145 | SH |  | SOLE |  | 9145 | 0 | 0 |
| HELLO GROUP INC | ADS | 423403104 | BBG007HTCQV7 | 84879 | 14736 | SH |  | SOLE |  | 14736 | 0 | 0 |
| HF SINCLAIR CORP | COM | 403949100 | BBG0135B2269 | 203953 | 3269 | SH |  | SOLE |  | 3269 | 0 | 0 |
| HIGHWOODS PPTYS INC | COM | 431284108 | BBG001S7X2X4 | 1361612 | 63597 | SH |  | SOLE |  | 63597 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 347966 | 1058 | SH |  | SOLE |  | 1058 | 0 | 0 |
| HP INC | COM | 40434L105 | BBG001S6W7N7 | 214268 | 11154 | SH |  | SOLE |  | 11154 | 0 | 0 |
| IHS HOLDING LIMITED | ORD SHS | G4701H109 | BBG012M7S2D5 | 189274 | 22998 | SH |  | SOLE |  | 22998 | 0 | 0 |
| IMPERIAL OIL LTD | COM NEW | 453038408 | BBG001S5T1N6 | 276684 | 2115 | SH |  | SOLE |  | 2115 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 | BBG001S8Q6N2 | 201605 | 2142 | SH |  | SOLE |  | 2142 | 0 | 0 |
| INGREDION INC | COM | 457187102 | BBG001SBH4X9 | 362878 | 3221 | SH |  | SOLE |  | 3221 | 0 | 0 |
| INTEL CORP | COM | 458140100 | BBG001S5SF65 | 807711 | 18303 | SH |  | SOLE |  | 18303 | 0 | 0 |
| INTERNATIONAL SEAWAYS INC | COM | Y41053102 | BBG003MN93D8 | 1397984 | 19182 | SH |  | SOLE |  | 19182 | 0 | 0 |
| INTUIT | COM | 461202103 | BBG001S6TWR2 | 432380 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S HDL VOL | 46138E362 | BBG003H4RBL9 | 241948 | 4877 | SH |  | SOLE |  | 4877 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S QUALITY | 46137V241 | BBG001SDTVQ0 | 729719 | 9705 | SH |  | SOLE |  | 9705 | 0 | 0 |
| INVESCO LTD | SHS | G491BT108 | BBG001S9RD81 | 740383 | 30481 | SH |  | SOLE |  | 30481 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 19047 | 33 | SH |  | SOLE |  | 33 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 4617440 | 8000 | SH | Put | SOLE |  | 8000 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | BBG01KYQ6QS5 | 973563 | 25340 | SH |  | SOLE |  | 25340 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 | BBG003HC3DG9 | 925373 | 13267 | SH |  | SOLE |  | 13267 | 0 | 0 |
| ISHARES INC | JP MRG EM CRP BD | 464286251 | BBG002WGKJD6 | 542952 | 11991 | SH |  | SOLE |  | 11991 | 0 | 0 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 | BBG00H5VLN77 | 787072 | 10006 | SH |  | SOLE |  | 10006 | 0 | 0 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 | BBG001S8SYN9 | 9861072 | 116782 | SH |  | SOLE |  | 116782 | 0 | 0 |
| ISHARES INC | MSCI PAC JP ETF | 464286665 | BBG001S89L03 | 4218253 | 79380 | SH |  | SOLE |  | 79380 | 0 | 0 |
| ISHARES INC | MSCI SWITZERLAND | 464286749 | BBG001S8SYW9 | 1068931 | 18176 | SH |  | SOLE |  | 18176 | 0 | 0 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 | BBG001TG5H89 | 625062 | 6041 | SH |  | SOLE |  | 6041 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 | BBG001S80936 | 1983404 | 20964 | SH |  | SOLE |  | 20964 | 0 | 0 |
| ISHARES TR | BROAD USD HIGH | 46435U853 | BBG00J2DS0J6 | 3852424 | 104657 | SH |  | SOLE |  | 104657 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 | BBG001SMDNB1 | 235325 | 6555 | SH |  | SOLE |  | 6555 | 0 | 0 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 | BBG001V0XLT8 | 221495 | 1632 | SH |  | SOLE |  | 1632 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 532366 | 815 | SH |  | SOLE |  | 815 | 0 | 0 |
| ISHARES TR | EXPANDED TECH | 464287515 | BBG001S7W2J1 | 603497 | 7539 | SH |  | SOLE |  | 7539 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | BBG001ST0ZQ7 | 723916 | 9099 | SH |  | SOLE |  | 9099 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 | BBG001S60QR6 | 5258550 | 48248 | SH |  | SOLE |  | 48248 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 | BBG001SGYSW7 | 2701093 | 15997 | SH |  | SOLE |  | 15997 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 | BBG001SSD858 | 336752 | 6407 | SH |  | SOLE |  | 6407 | 0 | 0 |
| ISHARES TR | LATN AMER 40 ETF | 464287390 | BBG001SJRVW2 | 422439 | 11893 | SH |  | SOLE |  | 11893 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 | BBG001S56D46 | 216349 | 3851 | SH |  | SOLE |  | 3851 | 0 | 0 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 | BBG007WGM3H4 | 414918 | 11038 | SH |  | SOLE |  | 11038 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 | BBG001SNVWC8 | 215242 | 7099 | SH |  | SOLE |  | 7099 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 | BBG001S56320 | 73300292 | 171905 | SH |  | SOLE |  | 171905 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | BBG001SFC7Y7 | 248000 | 1000 | SH | Call | SOLE |  | 0 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | BBG001SFC7Y7 | 248000 | 1000 | SH | Put | SOLE |  | 1000 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 | BBG001SDJVG2 | 299640 | 1979 | SH |  | SOLE |  | 1979 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 | BBG001SD9RM5 | 2776340 | 26229 | SH |  | SOLE |  | 26229 | 0 | 0 |
| ISHARES TR | US TREAS BD ETF | 46429B267 | BBG002NCKPP8 | 989597 | 43195 | SH |  | SOLE |  | 43195 | 0 | 0 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 | BBG001S65TL1 | 11261119 | 1343809 | SH |  | SOLE |  | 1343809 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 | BBG00TSG0SK6 | 426744 | 7529 | SH |  | SOLE |  | 7529 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | FLEXIBLE DEBT ET | 46654Q559 | BBG01X2PHPJ4 | 306171 | 6164 | SH |  | SOLE |  | 6164 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 | BBG00M8D48L9 | 2518196 | 50374 | SH |  | SOLE |  | 50374 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | US QUALTY FCTR | 46641Q761 | BBG00J5DPW97 | 477070 | 7780 | SH |  | SOLE |  | 7780 | 0 | 0 |
| JACKSON FINANCIAL INC | COM CL A | 46817M107 | BBG00922Y611 | 214717 | 2031 | SH |  | SOLE |  | 2031 | 0 | 0 |
| JBG SMITH PPTYS | COM | 46590V100 | BBG00F5FNKK5 | 226923 | 15532 | SH |  | SOLE |  | 15532 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 252262 | 1032 | SH |  | SOLE |  | 1032 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 15183363 | 51616 | SH |  | SOLE |  | 51616 | 0 | 0 |
| KENVUE INC | COM | 49177J102 | BBG01C79X614 | 3860398 | 223921 | SH |  | SOLE |  | 223921 | 0 | 0 |
| KNOWLES CORP | COM | 49926D109 | BBG004M8M6K9 | 202025 | 7867 | SH |  | SOLE |  | 7867 | 0 | 0 |
| KOSMOS ENERGY LTD | NOTE 3.125% 3/1 | 500688AH9 |  | 12487046 | 15705000 | PRN |  | SOLE |  | 15705000 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 | BBG005CPNTR1 | 306021 | 13607 | SH |  | SOLE |  | 13607 | 0 | 0 |
| LAUREATE ED INC | COMMON STOCK | 518613203 | BBG00B4Z2YY9 | 252242 | 7240 | SH |  | SOLE |  | 7240 | 0 | 0 |
| LIGAND PHARMACEUTICALS INC | COM NEW | 53220K504 | BBG001S8CH99 | 209433 | 1049 | SH |  | SOLE |  | 1049 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 | BBG001S7S2B4 | 262121 | 1268 | SH |  | SOLE |  | 1268 | 0 | 0 |
| MARA HOLDINGS INC | NOTE 3/0 | 565788AF3 |  | 5298480 | 6000000 | PRN |  | SOLE |  | 6000000 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG001SKNNS6 | 1165707 | 2333 | SH |  | SOLE |  | 2333 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 | BBG001SM32G3 | 4372691 | 2529 | SH |  | SOLE |  | 2529 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 11289269 | 19732 | SH |  | SOLE |  | 19732 | 0 | 0 |
| MFS INTER INCOME TR | SH BEN INT | 55273C107 | BBG001S5T6D6 | 71824 | 28615 | SH |  | SOLE |  | 28615 | 0 | 0 |
| MGIC INVT CORP WIS | COM | 552848103 | BBG001S6SFR0 | 292320 | 11136 | SH |  | SOLE |  | 11136 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 | BBG001S6P675 | 435814 | 1290 | SH |  | SOLE |  | 1290 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 6748939 | 18232 | SH |  | SOLE |  | 18232 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 7403400 | 20000 | SH | Call | SOLE |  | 0 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 7403400 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 | BBG001S8W0H5 | 5820740 | 77672 | SH |  | SOLE |  | 77672 | 0 | 0 |
| MOODYS CORP | COM | 615369105 | BBG001S5VP87 | 737263 | 1690 | SH |  | SOLE |  | 1690 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 | BBG001S9V5Z3 | 327823 | 1992 | SH |  | SOLE |  | 1992 | 0 | 0 |
| MORGAN STANLEY ETF TRUST | EATON VANCE INCO | 61774R817 | BBG01Y675MH0 | 2628248 | 51343 | SH |  | SOLE |  | 51343 | 0 | 0 |
| MSCI INC | COM | 55354G100 | BBG001SV8B05 | 347122 | 644 | SH |  | SOLE |  | 644 | 0 | 0 |
| MUELLER INDS INC | COM | 624756102 | BBG001S6PVC4 | 217944 | 1967 | SH |  | SOLE |  | 1967 | 0 | 0 |
| NAVIENT CORPORATION | COM | 63938C108 | BBG004MN1R50 | 175813 | 21493 | SH |  | SOLE |  | 21493 | 0 | 0 |
| NAVIGATOR HLDGS LTD | SHS | Y62132108 | BBG001SRNVY6 | 210832 | 10907 | SH |  | SOLE |  | 10907 | 0 | 0 |
| NCR VOYIX CORPORATION | COM | 62886E108 | BBG001S9FBR7 | 136475 | 21560 | SH |  | SOLE |  | 21560 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 | BBG001SF6L46 | 4807500 | 50000 | SH | Call | SOLE |  | 0 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 | BBG001SF6L46 | 4807500 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 | BBG001S5TKX3 | 212387 | 1962 | SH |  | SOLE |  | 1962 | 0 | 0 |
| NEXPOINT DIVERSIFIED REL ET | COM NEW | 65340G205 | BBG001SQLM25 | 318134 | 68123 | SH |  | SOLE |  | 68123 | 0 | 0 |
| NOMAD FOODS LTD | USD ORD SHS | G6564A105 | BBG0029T14K0 | 206183 | 21455 | SH |  | SOLE |  | 21455 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 | BBG001S5TQJ6 | 6491653 | 22619 | SH |  | SOLE |  | 22619 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 | BBG001S5TRG7 | 308171 | 2208 | SH |  | SOLE |  | 2208 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 | BBG0136WM2Y9 | 7384412 | 513877 | SH |  | SOLE |  | 513877 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 25938338 | 148729 | SH |  | SOLE |  | 148729 | 0 | 0 |
| OAKTREE SPECIALTY LENDING | COM | 67401P405 | BBG001SR03L7 | 321666 | 28466 | SH |  | SOLE |  | 28466 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 | BBG001S5TZG9 | 1620515 | 24931 | SH |  | SOLE |  | 24931 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 | BBG001S5TVY8 | 5741388 | 119712 | SH |  | SOLE |  | 119712 | 0 | 0 |
| ONE GAS INC | COM | 68235P108 | BBG004WQKD16 | 9067594 | 105278 | SH |  | SOLE |  | 105278 | 0 | 0 |
| ORGANON  CO | COMMON STOCK | 68622V106 | BBG00ZQRGW42 | 116541 | 19456 | SH |  | SOLE |  | 19456 | 0 | 0 |
| ORMAT TECHNOLOGIES INC | COM | 686688102 | BBG001S9LPW3 | 260438 | 2327 | SH |  | SOLE |  | 2327 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 | BBG00RP60LN7 | 290515 | 3769 | SH |  | SOLE |  | 3769 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 | BBG00R2NHQ74 | 1219254 | 20540 | SH |  | SOLE |  | 20540 | 0 | 0 |
| PAN AMERN SILVER CORP | COM | 697900108 | BBG001S5ZXR5 | 1287957 | 23576 | SH |  | SOLE |  | 23576 | 0 | 0 |
| PENSKE AUTOMOTIVE GRP INC | COM | 70959W103 | BBG001S96493 | 251343 | 1681 | SH |  | SOLE |  | 1681 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 | BBG001S69VB3 | 270651 | 3107 | SH |  | SOLE |  | 3107 | 0 | 0 |
| PERRIGO CO PLC | SHS | G97822103 | BBG001S704D8 | 136709 | 12729 | SH |  | SOLE |  | 12729 | 0 | 0 |
| PETROLEO BRASILEIRO S A | SPONSORED ADR | 71654V408 | BBG001SF6W88 | 11708603 | 564270 | SH |  | SOLE |  | 564270 | 0 | 0 |
| PETROLEO BRASILEIRO S A | SPONSORED ADR | 71654V408 | BBG001SF6W88 | 1749225 | 84300 | SH | Call | SOLE |  | 0 | 0 | 0 |
| PETROLEO BRASILEIRO S A | SPONSORED ADR | 71654V408 | BBG001SF6W88 | 1749225 | 84300 | SH | Put | SOLE |  | 84300 | 0 | 0 |
| PG CORP | COM | 69331C108 | BBG001S5V206 | 8491159 | 483276 | SH |  | SOLE |  | 483276 | 0 | 0 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 | BBG002N12C17 | 251832 | 2729 | SH |  | SOLE |  | 2729 | 0 | 0 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 | BBG001SF6Y39 | 3619637 | 69355 | SH |  | SOLE |  | 69355 | 0 | 0 |
| PIMCO MUN INCOME FD II | COM | 72200W106 | BBG001SKRFP2 | 282679 | 37342 | SH |  | SOLE |  | 37342 | 0 | 0 |
| PLAINS GP HLDGS L P | LTD PARTNR INT A | 72651A207 | BBG001SZV282 | 289272 | 11914 | SH |  | SOLE |  | 11914 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 | BBG001S5V947 | 1382550 | 6644 | SH |  | SOLE |  | 6644 | 0 | 0 |
| POPULAR INC | COM NEW | 733174700 | BBG001S5PC01 | 237078 | 1767 | SH |  | SOLE |  | 1767 | 0 | 0 |
| PPL CORP | COM | 69351T106 | BBG001S5VC31 | 3794330 | 99328 | SH |  | SOLE |  | 99328 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 | BBG001S5WW18 | 309721 | 3436 | SH |  | SOLE |  | 3436 | 0 | 0 |
| PRINCIPAL EXCHANGE TRADED FD | SPECTRUM PFD | 74255Y888 | BBG00H3P9YB7 | 730592 | 38820 | SH |  | SOLE |  | 38820 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 737366 | 5105 | SH |  | SOLE |  | 5105 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 1386624 | 9600 | SH | Call | SOLE |  | 0 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 1386624 | 9600 | SH | Put | SOLE |  | 9600 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 | BBG001S97MM7 | 283203 | 2899 | SH |  | SOLE |  | 2899 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GROUP | COM | 744573106 | BBG001S5V3C1 | 305586 | 3775 | SH |  | SOLE |  | 3775 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 | BBG001SM4KY2 | 235393 | 9012 | SH |  | SOLE |  | 9012 | 0 | 0 |
| RENAISSANCERE HLDGS LTD | COM | G7496G103 | BBG001S6T1Z1 | 307930 | 1036 | SH |  | SOLE |  | 1036 | 0 | 0 |
| ROYALTY PHARMA PLC | SHS CLASS A | G7709Q104 | BBG00V1L5ZR1 | 2861842 | 59659 | SH |  | SOLE |  | 59659 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 422065 | 2188 | SH |  | SOLE |  | 2188 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 | BBG01R388JK6 | 254136 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 | BBG001S7T107 | 213148 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 | BBG001S7T1S7 | 19946256 | 325600 | SH | Call | SOLE |  | 0 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 | BBG001S7T1S7 | 19946256 | 325600 | SH | Put | SOLE |  | 325600 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 | BBG001S7T223 | 425421 | 8617 | SH |  | SOLE |  | 8617 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 | BBG001S7SCQ6 | 13447362 | 91722 | SH |  | SOLE |  | 91722 | 0 | 0 |
| SEMPRA | COM | 816851109 | BBG001SBVZ73 | 264400 | 2721 | SH |  | SOLE |  | 2721 | 0 | 0 |
| SKYWATER TECHNOLOGY INC | COM | 83089J108 | BBG00ZS44MH2 | 411150 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 | BBG001S5W4C8 | 2293073 | 44621 | SH |  | SOLE |  | 44621 | 0 | 0 |
| SM ENERGY COMPANY | COM | 78454L100 | BBG001S6W0J7 | 1542163 | 49460 | SH |  | SOLE |  | 49460 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 | BBG001S5NRY3 | 262903 | 3987 | SH |  | SOLE |  | 3987 | 0 | 0 |
| SOCIEDAD QUIMICA Y MINERA DE | SPON ADR SER B | 833635105 | BBG001S7G2C6 | 4751178 | 58700 | SH |  | SOLE |  | 58700 | 0 | 0 |
| SOLARIS RES INC | COM NEW | 83419D201 | BBG00L8NLS36 | 1236615 | 143208 | SH |  | SOLE |  | 143208 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 18674156 | 43399 | SH |  | SOLE |  | 43399 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 344232 | 800 | SH | Call | SOLE |  | 0 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 344232 | 800 | SH | Put | SOLE |  | 800 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 | BBG001SQDKG3 | 912759 | 7146 | SH |  | SOLE |  | 7146 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 | BBG003T4VFD1 | 1373750 | 2833 | SH |  | SOLE |  | 2833 | 0 | 0 |
| SSR MINING IN | COM | 784730103 | BBG001S6JSX5 | 845750 | 28767 | SH |  | SOLE |  | 28767 | 0 | 0 |
| STAR BULK CARRIERS CORP. | SHS PAR | Y8162K204 | BBG001SPYW58 | 1184884 | 51584 | SH |  | SOLE |  | 51584 | 0 | 0 |
| STATE STR CORP | COM | 857477103 | BBG001S5RLD5 | 291594 | 2304 | SH |  | SOLE |  | 2304 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 | BBG001S72SM3 | 17321806 | 26635 | SH |  | SOLE |  | 26635 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 | BBG001S72SM3 | 7283808 | 11200 | SH | Put | SOLE |  | 11200 | 0 | 0 |
| STONECO LTD | COM CL A | G85158106 | BBG00M4ZQF98 | 141948 | 10053 | SH |  | SOLE |  | 10053 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 | BBG001S8FR03 | 3539353 | 9508 | SH |  | SOLE |  | 9508 | 0 | 0 |
| STUBHUB HLDGS INC | CL A | 86384P109 | BBG00RFFBK03 | 1227425 | 71445 | SH |  | SOLE |  | 71445 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 | BBG001S5YSF0 | 1437033 | 21737 | SH |  | SOLE |  | 21737 | 0 | 0 |
| SUZANO S A | SPON ADS | 86959K105 | BBG001SKWHM5 | 1823021 | 182120 | SH |  | SOLE |  | 182120 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 | BBG00658F3Q2 | 211814 | 3114 | SH |  | SOLE |  | 3114 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 | BBG001S5WWW4 | 16947517 | 50148 | SH |  | SOLE |  | 50148 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 | BBG001S9TN41 | 641875 | 3250 | SH |  | SOLE |  | 3250 | 0 | 0 |
| TC ENERGY CORP | COM | 87807B107 | BBG001S5WW27 | 1359609 | 21719 | SH |  | SOLE |  | 21719 | 0 | 0 |
| TD SYNNEX CORPORATION | COM | 87162W100 | BBG001SFQWB2 | 266731 | 1581 | SH |  | SOLE |  | 1581 | 0 | 0 |
| TECHNIPFMC PLC | COM | G87110105 | BBG00DL8NMT5 | 208012 | 3009 | SH |  | SOLE |  | 3009 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 | BBG00M5B6BG3 | 126477 | 13629 | SH |  | SOLE |  | 13629 | 0 | 0 |
| TEXAS VENTURES ACQUISITION I | USD CL A ORD SHS | G8772L105 | BBG01S7MDSY8 | 1938057 | 186531 | SH |  | SOLE |  | 186531 | 0 | 0 |
| THE CAMPBELLS COMPANY | COM | 134429109 | BBG001S5Q2B0 | 220495 | 9901 | SH |  | SOLE |  | 9901 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 | BBG001S5WQ93 | 1088515 | 6816 | SH |  | SOLE |  | 6816 | 0 | 0 |
| TORM PLC | SHS CL A | G89479102 | BBG00CJZ1L61 | 1353094 | 48498 | SH |  | SOLE |  | 48498 | 0 | 0 |
| TOTALENERGIES SE | ACT | F92124100 | BBG001S67Y74 | 13332401 | 150000 | SH | Call | SOLE |  | 0 | 0 | 0 |
| TOTALENERGIES SE | ACT | F92124100 | BBG001S67Y74 | 13332401 | 150000 | SH | Put | SOLE |  | 150000 | 0 | 0 |
| TRANSALTA CORP | COM | 89346D107 | BBG001S5WJZ0 | 2224688 | 169173 | SH |  | SOLE |  | 169173 | 0 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 | BBG001SN4127 | 217049 | 3137 | SH |  | SOLE |  | 3137 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 | BBG001S5YYC0 | 242170 | 5268 | SH |  | SOLE |  | 5268 | 0 | 0 |
| TXNM ENERGY INC | COM | 69349H107 | BBG001S5V9J1 | 1569417 | 26846 | SH |  | SOLE |  | 26846 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MW4 | 727644 | 10116 | SH |  | SOLE |  | 10116 | 0 | 0 |
| UBS GROUP AG | SHS | H42097107 | BBG007936GX0 | 268022 | 6972 | SH |  | SOLE |  | 6972 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 | BBG00FWQ4W44 | 960741 | 1838 | SH |  | SOLE |  | 1838 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 | BBG001SBGZ25 | 6539555 | 8976 | SH |  | SOLE |  | 8976 | 0 | 0 |
| USA TODAY CO INC | COM | 36472T109 | BBG005C9FQR2 | 1762500 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 | BBG001SB54S8 | 9395921 | 590567 | SH |  | SOLE |  | 590567 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 | BBG001SHVTS1 | 11753129 | 40926 | SH |  | SOLE |  | 40926 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 | BBG001SMD2X3 | 3500900 | 39469 | SH |  | SOLE |  | 39469 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 104184038 | 174352 | SH |  | SOLE |  | 174352 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 6988811 | 26683 | SH |  | SOLE |  | 26683 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | BBG001SHTB03 | 1732053 | 5399 | SH |  | SOLE |  | 5399 | 0 | 0 |
| VANGUARD INSTL INDEX FD | 0-3 MO TREAS BIL | 922040845 | BBG01S6YYQV7 | 272037 | 3596 | SH |  | SOLE |  | 3596 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 10798001 | 199778 | SH |  | SOLE |  | 199778 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | BBG001SHTV18 | 23465018 | 284666 | SH |  | SOLE |  | 284666 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 | BBG001T2YZG9 | 254924 | 1843 | SH |  | SOLE |  | 1843 | 0 | 0 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 | BBG009THVRX1 | 4502822 | 90255 | SH |  | SOLE |  | 90255 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 | BBG001T62M38 | 202241 | 2444 | SH |  | SOLE |  | 2444 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 | BBG001TCH518 | 8242655 | 75145 | SH |  | SOLE |  | 75145 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 1277671 | 5941 | SH |  | SOLE |  | 5941 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 | BBG001TJR1D8 | 418630 | 5429 | SH |  | SOLE |  | 5429 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 | BBG001SSPWL4 | 846808 | 17128 | SH |  | SOLE |  | 17128 | 0 | 0 |
| VANGUARD WORLD FD | COMM SRVC ETF | 92204A884 | BBG001SHTV72 | 883554 | 4913 | SH |  | SOLE |  | 4913 | 0 | 0 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 | BBG001SHTTM0 | 6266656 | 51872 | SH |  | SOLE |  | 51872 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 | BBG001SHVR32 | 6710756 | 24642 | SH |  | SOLE |  | 24642 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 | BBG001SHTTR5 | 5942481 | 8517 | SH |  | SOLE |  | 8517 | 0 | 0 |
| VANGUARD WORLD FD | MEGA CAP VAL ETF | 921910840 | BBG001T0Y6L1 | 31059306 | 214276 | SH |  | SOLE |  | 214276 | 0 | 0 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 | BBG001T0Y6W9 | 35988176 | 97943 | SH |  | SOLE |  | 97943 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 | BBG00L2B8LM7 | 676065 | 2698 | SH |  | SOLE |  | 2698 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 | BBG00Y52JV51 | 424065 | 31389 | SH |  | SOLE |  | 31389 | 0 | 0 |
| VIRTUS INVT PARTNERS INC | COM | 92828Q109 | BBG001T1QKH2 | 214691 | 1598 | SH |  | SOLE |  | 1598 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 7283380 | 24098 | SH |  | SOLE |  | 24098 | 0 | 0 |
| VISTANCE NETWORKS INC | COM | 20337X109 | BBG004LTL7M1 | 7280000 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 | BBG00DXDL6R0 | 8444938 | 56176 | SH |  | SOLE |  | 56176 | 0 | 0 |
| VNET GROUP INC | SPONSORED ADS A | 90138A103 | BBG001V0ZQH8 | 223728 | 26666 | SH |  | SOLE |  | 26666 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 | BBG011386VG3 | 3899320 | 142000 | SH |  | SOLE |  | 142000 | 0 | 0 |
| WEBSTER FINL CORP | COM | 947890109 | BBG001S5XCP5 | 4859400 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 | BBG001S5XDC7 | 12280419 | 106076 | SH |  | SOLE |  | 106076 | 0 | 0 |
| WEIS MKTS INC | COM | 948849104 | BBG001S5XH56 | 234099 | 3423 | SH |  | SOLE |  | 3423 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 | BBG001S5XF23 | 297423 | 3736 | SH |  | SOLE |  | 3736 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 | BBG001S6DSP0 | 1058037 | 8076 | SH |  | SOLE |  | 8076 | 0 | 0 |
| WISDOMTREE INC | COM | 97717P104 | BBG001SD2W32 | 186281 | 12794 | SH |  | SOLE |  | 12794 | 0 | 0 |
| WORLD KINECT CORPORATION | COM | 981475106 | BBG001S5S9J5 | 218081 | 9453 | SH |  | SOLE |  | 9453 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 | BBG001S7F0X8 | 10737428 | 135164 | SH |  | SOLE |  | 135164 | 0 | 0 |

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