# EDGAR Filing Document

**Accession Number:** 0001767686
**File Stem:** 0001754960-25-000689
**Filing Date:** 2025-10
**Character Count:** 18846
**Document Hash:** 94cbbc11210302acfdbec4834f3296c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001754960-25-000689.hdr.sgml**: 20251020

**ACCESSION NUMBER**: 0001754960-25-000689

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251020

**DATE AS OF CHANGE**: 20251020

**EFFECTIVENESS DATE**: 20251020

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Yarbrough Capital, LLC
- **CENTRAL INDEX KEY:** 0001767686

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

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21554
- **FILM NUMBER:** 251403704

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 MALLORY LANE, STE 130-389
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 615-336-7333

**MAIL ADDRESS:**
- **STREET 1:** 2000 MALLORY LANE, STE 130-389
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067

### 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:** Yarbrough Capital LLC<br>**Address:** 2000 MALLORY LANE STE 130-389<br>FRANKLIN, TN 37067

**Form 13F File Number:** 028-21554

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:** File13F.com<br>**Title:** Agent<br>**Phone:** 844-844-3453

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

Aryn Sands  Reno, NV  10-20-2025<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:** 156

**Form 13F Information Table Value Total:** $3213412139

      (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 |
| AON PLC | SHS CL A | G0403H108 |  | 622589 | 1746 | SH |  | SOLE |  | 0 | 0 | 1746 |
| GRAYSCALE COINDESK CRYPTO | USD SHS | G40705108 |  | 12409800 | 222000 | SH |  | SOLE |  | 0 | 0 | 222000 |
| JOBY AVIATION INC | COMMON STOCK | G65163100 |  | 2703176 | 167483 | SH |  | SOLE |  | 0 | 0 | 167483 |
| SHARKNINJA INC | COM SHS | G8068L108 |  | 318734 | 3090 | SH |  | SOLE |  | 0 | 0 | 3090 |
| GARMIN LTD | SHS | H2906T109 |  | 35423635 | 143870 | SH |  | SOLE |  | 0 | 0 | 143870 |
| CELLEBRITE DI LTD | ORDINARY SHARES | M2197Q107 |  | 389945 | 21044 | SH |  | SOLE |  | 0 | 0 | 21044 |
| MONDAY COM LTD | SHS | M7S64H106 |  | 848556 | 4381 | SH |  | SOLE |  | 0 | 0 | 4381 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 7314888 | 7556 | SH |  | SOLE |  | 0 | 0 | 7556 |
| NEWAMSTERDAM PHARMA COMPANY | ORDINARY SHARES | N62509109 |  | 681422 | 23960 | SH |  | SOLE |  | 0 | 0 | 23960 |
| AAR CORP | COM | 000361105 |  | 419207 | 4675 | SH |  | SOLE |  | 0 | 0 | 4675 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 4847989 | 56176 | SH |  | SOLE |  | 0 | 0 | 56176 |
| ARK ETF TR | FINTECH INNOVA | 00214Q708 |  | 13558671 | 238709 | SH |  | SOLE |  | 0 | 0 | 238709 |
| AST SPACEMOBILE INC | COM CL A | 00217D100 |  | 4877178 | 99372 | SH |  | SOLE |  | 0 | 0 | 99372 |
| ADAPTIVE BIOTECHNOLOGIES COR | COM | 00650F109 |  | 427302 | 28563 | SH |  | SOLE |  | 0 | 0 | 28563 |
| ADOBE INC | COM | 00724F101 |  | 5676806 | 16093 | SH |  | SOLE |  | 0 | 0 | 16093 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 5317067 | 32864 | SH |  | SOLE |  | 0 | 0 | 32864 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 19942872 | 111581 | SH |  | SOLE |  | 0 | 0 | 111581 |
| ALKAMI TECHNOLOGY INC | COM | 01644J108 |  | 349275 | 14061 | SH |  | SOLE |  | 0 | 0 | 14061 |
| ALLSTATE CORP | COM | 020002101 |  | 589000 | 2744 | SH |  | SOLE |  | 0 | 0 | 2744 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 48700258 | 199960 | SH |  | SOLE |  | 0 | 0 | 199960 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 261087941 | 1073994 | SH |  | SOLE |  | 0 | 0 | 1073994 |
| AMAZON COM INC | COM | 023135106 |  | 190396173 | 867132 | SH |  | SOLE |  | 0 | 0 | 867132 |
| AMERICAN PUB ED INC | COM | 02913V103 |  | 417869 | 10587 | SH |  | SOLE |  | 0 | 0 | 10587 |
| APPLE INC | COM | 037833100 |  | 454109792 | 1783410 | SH |  | SOLE |  | 0 | 0 | 1783410 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 5890591 | 8198 | SH |  | SOLE |  | 0 | 0 | 8198 |
| ARCHER AVIATION INC | COM CL A | 03945R102 |  | 4471925 | 466798 | SH |  | SOLE |  | 0 | 0 | 466798 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 4801582 | 32953 | SH |  | SOLE |  | 0 | 0 | 32953 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 599947 | 836 | SH |  | SOLE |  | 0 | 0 | 836 |
| AXSOME THERAPEUTICS INC | COM | 05464T104 |  | 613808 | 5054 | SH |  | SOLE |  | 0 | 0 | 5054 |
| BJS WHSL CLUB HLDGS INC | COM | 05550J101 |  | 808757 | 8673 | SH |  | SOLE |  | 0 | 0 | 8673 |
| BP PLC | SPONSORED ADR | 055622104 |  | 9757280 | 283148 | SH |  | SOLE |  | 0 | 0 | 283148 |
| THE BALDWIN INSURANCE GRP IN | COM CL A | 05589G102 |  | 247684 | 8780 | SH |  | SOLE |  | 0 | 0 | 8780 |
| BANK AMERICA CORP | COM | 060505104 |  | 15223219 | 295081 | SH |  | SOLE |  | 0 | 0 | 295081 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 993917 | 1977 | SH |  | SOLE |  | 0 | 0 | 1977 |
| BLACKSTONE INC | COM | 09260D107 |  | 16103467 | 94255 | SH |  | SOLE |  | 0 | 0 | 94255 |
| BOEING CO | COM | 097023105 |  | 17189780 | 79645 | SH |  | SOLE |  | 0 | 0 | 79645 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 3754459 | 38456 | SH |  | SOLE |  | 0 | 0 | 38456 |
| BROADCOM INC | COM | 11135F101 |  | 97489395 | 295503 | SH |  | SOLE |  | 0 | 0 | 295503 |
| CBIZ INC | COM | 124805102 |  | 410175 | 7745 | SH |  | SOLE |  | 0 | 0 | 7745 |
| CACI INTL INC | CL A | 127190304 |  | 371092 | 744 | SH |  | SOLE |  | 0 | 0 | 744 |
| CARVANA CO | CL A | 146869102 |  | 1429740 | 3790 | SH |  | SOLE |  | 0 | 0 | 3790 |
| CHEVRON CORP NEW | COM | 166764100 |  | 4371724 | 28152 | SH |  | SOLE |  | 0 | 0 | 28152 |
| CHEWY INC | CL A | 16679L109 |  | 1685713 | 41674 | SH |  | SOLE |  | 0 | 0 | 41674 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 314813 | 8033 | SH |  | SOLE |  | 0 | 0 | 8033 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 317440 | 17616 | SH |  | SOLE |  | 0 | 0 | 17616 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 514335 | 1524 | SH |  | SOLE |  | 0 | 0 | 1524 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 847102 | 6190 | SH |  | SOLE |  | 0 | 0 | 6190 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 476699 | 515 | SH |  | SOLE |  | 0 | 0 | 515 |
| COSTAR GROUP INC | COM | 22160N109 |  | 675804 | 8010 | SH |  | SOLE |  | 0 | 0 | 8010 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 5994405 | 12224 | SH |  | SOLE |  | 0 | 0 | 12224 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 23904358 | 167047 | SH |  | SOLE |  | 0 | 0 | 167047 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 2685320 | 71800 | SH |  | SOLE |  | 0 | 0 | 71800 |
| D-WAVE QUANTUM INC | COM | 26740W109 |  | 2991393 | 121060 | SH |  | SOLE |  | 0 | 0 | 121060 |
| ETF SER SOLUTIONS | DEFIANCE QUANTUM | 26922A420 |  | 1580889 | 15069 | SH |  | SOLE |  | 0 | 0 | 15069 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 5006100 | 44400 | SH |  | SOLE |  | 0 | 0 | 44400 |
| META PLATFORMS INC | CL A | 30303M102 |  | 208739437 | 284239 | SH |  | SOLE |  | 0 | 0 | 284239 |
| FASTENAL CO | COM | 311900104 |  | 440870 | 8990 | SH |  | SOLE |  | 0 | 0 | 8990 |
| FEDERAL SIGNAL CORP | COM | 313855108 |  | 439192 | 3691 | SH |  | SOLE |  | 0 | 0 | 3691 |
| FIDELITY COVINGTON TRUST | MSCI ENERGY IDX | 316092402 |  | 17593091 | 711695 | SH |  | SOLE |  | 0 | 0 | 711695 |
| FISERV INC | COM | 337738108 |  | 837916 | 6499 | SH |  | SOLE |  | 0 | 0 | 6499 |
| GE VERNOVA INC | COM | 36828A101 |  | 2506332 | 4076 | SH |  | SOLE |  | 0 | 0 | 4076 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 29648111 | 37230 | SH |  | SOLE |  | 0 | 0 | 37230 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 |  | 622691 | 2709 | SH |  | SOLE |  | 0 | 0 | 2709 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 5070928 | 11898 | SH |  | SOLE |  | 0 | 0 | 11898 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 2359669 | 17690 | SH |  | SOLE |  | 0 | 0 | 17690 |
| HOME DEPOT INC | COM | 437076102 |  | 7511412 | 18538 | SH |  | SOLE |  | 0 | 0 | 18538 |
| IRHYTHM TECHNOLOGIES INC | COM | 450056106 |  | 799754 | 4650 | SH |  | SOLE |  | 0 | 0 | 4650 |
| IDEXX LABS INC | COM | 45168D104 |  | 496418 | 777 | SH |  | SOLE |  | 0 | 0 | 777 |
| INSULET CORP | COM | 45784P101 |  | 638454 | 2068 | SH |  | SOLE |  | 0 | 0 | 2068 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 86752246 | 144498 | SH |  | SOLE |  | 0 | 0 | 144498 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 532204 | 1190 | SH |  | SOLE |  | 0 | 0 | 1190 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 734829 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| IONQ INC | COM | 46222L108 |  | 1783008 | 28992 | SH |  | SOLE |  | 0 | 0 | 28992 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1404191 | 2098 | SH |  | SOLE |  | 0 | 0 | 2098 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 1028764 | 8945 | SH |  | SOLE |  | 0 | 0 | 8945 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 22335679 | 82383 | SH |  | SOLE |  | 0 | 0 | 82383 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 28910813 | 90335 | SH |  | SOLE |  | 0 | 0 | 90335 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 6360039 | 30393 | SH |  | SOLE |  | 0 | 0 | 30393 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 279973 | 4660 | SH |  | SOLE |  | 0 | 0 | 4660 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 34073845 | 524213 | SH |  | SOLE |  | 0 | 0 | 524213 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 30872687 | 97875 | SH |  | SOLE |  | 0 | 0 | 97875 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 347198 | 1164 | SH |  | SOLE |  | 0 | 0 | 1164 |
| KLAVIYO INC | COM SER A | 49845K101 |  | 312066 | 11270 | SH |  | SOLE |  | 0 | 0 | 11270 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 3445515 | 25732 | SH |  | SOLE |  | 0 | 0 | 25732 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 532489 | 2818 | SH |  | SOLE |  | 0 | 0 | 2818 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 706438 | 11118 | SH |  | SOLE |  | 0 | 0 | 11118 |
| MARATHON PETE CORP | COM | 56585A102 |  | 12664174 | 65706 | SH |  | SOLE |  | 0 | 0 | 65706 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 2826555 | 10853 | SH |  | SOLE |  | 0 | 0 | 10853 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 7804073 | 13720 | SH |  | SOLE |  | 0 | 0 | 13720 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 9457596 | 4047 | SH |  | SOLE |  | 0 | 0 | 4047 |
| MERCURY SYS INC | COM | 589378108 |  | 773303 | 9991 | SH |  | SOLE |  | 0 | 0 | 9991 |
| MICROSOFT CORP | COM | 594918104 |  | 67226913 | 129794 | SH |  | SOLE |  | 0 | 0 | 129794 |
| MODINE MFG CO | COM | 607828100 |  | 339620 | 2389 | SH |  | SOLE |  | 0 | 0 | 2389 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 384828 | 418 | SH |  | SOLE |  | 0 | 0 | 418 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 572070 | 1251 | SH |  | SOLE |  | 0 | 0 | 1251 |
| VIPER ENERGY INC | CL A | 64361Q101 |  | 352503 | 9223 | SH |  | SOLE |  | 0 | 0 | 9223 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 647537961 | 3470565 | SH |  | SOLE |  | 0 | 0 | 3470565 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 4320918 | 91448 | SH |  | SOLE |  | 0 | 0 | 91448 |
| OCCIDENTAL PETE CORP | *W EXP 08/03/202 | 674599162 |  | 610955 | 23959 | SH |  | SOLE |  | 0 | 0 | 23959 |
| OKTA INC | CL A | 679295105 |  | 403480 | 4400 | SH |  | SOLE |  | 0 | 0 | 4400 |
| ORACLE CORP | COM | 68389X105 |  | 5680486 | 20198 | SH |  | SOLE |  | 0 | 0 | 20198 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 13160326 | 72143 | SH |  | SOLE |  | 0 | 0 | 72143 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1664186 | 8173 | SH |  | SOLE |  | 0 | 0 | 8173 |
| PALOMAR HLDGS INC | COM | 69753M105 |  | 624729 | 5351 | SH |  | SOLE |  | 0 | 0 | 5351 |
| PAYLOCITY HLDG CORP | COM | 70438V106 |  | 334467 | 2100 | SH |  | SOLE |  | 0 | 0 | 2100 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 7031708 | 53202 | SH |  | SOLE |  | 0 | 0 | 53202 |
| PINTEREST INC | CL A | 72352L106 |  | 11274620 | 350470 | SH |  | SOLE |  | 0 | 0 | 350470 |
| PROGRESSIVE CORP | COM | 743315103 |  | 600829 | 2433 | SH |  | SOLE |  | 0 | 0 | 2433 |
| QUALCOMM INC | COM | 747525103 |  | 24507822 | 147318 | SH |  | SOLE |  | 0 | 0 | 147318 |
| QUANTUM COMPUTING INC | COM | 74766W108 |  | 331730 | 18019 | SH |  | SOLE |  | 0 | 0 | 18019 |
| RTX CORPORATION | COM | 75513E101 |  | 10039131 | 59996 | SH |  | SOLE |  | 0 | 0 | 59996 |
| RESMED INC | COM | 761152107 |  | 890170 | 3252 | SH |  | SOLE |  | 0 | 0 | 3252 |
| RIGETTI COMPUTING INC | COMMON STOCK | 76655K103 |  | 1489530 | 50001 | SH |  | SOLE |  | 0 | 0 | 50001 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 39474726 | 275700 | SH |  | SOLE |  | 0 | 0 | 275700 |
| ROBLOX CORP | CL A | 771049103 |  | 491885 | 3551 | SH |  | SOLE |  | 0 | 0 | 3551 |
| ROLLINS INC | COM | 775711104 |  | 822595 | 14004 | SH |  | SOLE |  | 0 | 0 | 14004 |
| SHELL PLC | SPON ADS | 780259305 |  | 4119413 | 57590 | SH |  | SOLE |  | 0 | 0 | 57590 |
| RYAN SPECIALTY HOLDINGS INC | CL A | 78351F107 |  | 676264 | 11999 | SH |  | SOLE |  | 0 | 0 | 11999 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 8085876 | 22747 | SH |  | SOLE |  | 0 | 0 | 22747 |
| SPDR SERIES TRUST | S SEMICNDCTR | 78464A862 |  | 3350122 | 10498 | SH |  | SOLE |  | 0 | 0 | 10498 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 399598 | 4502 | SH |  | SOLE |  | 0 | 0 | 4502 |
| SALESFORCE INC | COM | 79466L302 |  | 7943292 | 33516 | SH |  | SOLE |  | 0 | 0 | 33516 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 520693 | 5454 | SH |  | SOLE |  | 0 | 0 | 5454 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 10774000 | 200000 | SH |  | SOLE |  | 0 | 0 | 200000 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 34398256 | 122040 | SH |  | SOLE |  | 0 | 0 | 122040 |
| SERVICENOW INC | COM | 81762P102 |  | 1546070 | 1680 | SH |  | SOLE |  | 0 | 0 | 1680 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 16350072 | 110020 | SH |  | SOLE |  | 0 | 0 | 110020 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 4034905 | 21500 | SH |  | SOLE |  | 0 | 0 | 21500 |
| SOUNDHOUND AI INC | CLASS A COM | 836100107 |  | 4633227 | 288136 | SH |  | SOLE |  | 0 | 0 | 288136 |
| STATE STR CORP | COM | 857477103 |  | 5744583 | 49518 | SH |  | SOLE |  | 0 | 0 | 49518 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 5018841 | 17970 | SH |  | SOLE |  | 0 | 0 | 17970 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 7634021 | 29548 | SH |  | SOLE |  | 0 | 0 | 29548 |
| THE TRADE DESK INC | COM CL A | 88339J105 |  | 233239 | 4759 | SH |  | SOLE |  | 0 | 0 | 4759 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 359885 | 742 | SH |  | SOLE |  | 0 | 0 | 742 |
| TOAST INC | CL A | 888787108 |  | 1964092 | 53796 | SH |  | SOLE |  | 0 | 0 | 53796 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 380217 | 3426 | SH |  | SOLE |  | 0 | 0 | 3426 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 466579 | 354 | SH |  | SOLE |  | 0 | 0 | 354 |
| TREX CO INC | COM | 89531P105 |  | 231275 | 4476 | SH |  | SOLE |  | 0 | 0 | 4476 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 631454 | 1207 | SH |  | SOLE |  | 0 | 0 | 1207 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 3748626 | 38263 | SH |  | SOLE |  | 0 | 0 | 38263 |
| UL SOLUTIONS INC | CLASS A COM SHS | 903731107 |  | 582044 | 8214 | SH |  | SOLE |  | 0 | 0 | 8214 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 26483461 | 81148 | SH |  | SOLE |  | 0 | 0 | 81148 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 66493289 | 89058 | SH |  | SOLE |  | 0 | 0 | 89058 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 53793891 | 390377 | SH |  | SOLE |  | 0 | 0 | 390377 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 3589220 | 12048 | SH |  | SOLE |  | 0 | 0 | 12048 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 132547973 | 216447 | SH |  | SOLE |  | 0 | 0 | 216447 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 102031910 | 310912 | SH |  | SOLE |  | 0 | 0 | 310912 |
| VISA INC | COM CL A | 92826C839 |  | 16134984 | 47264 | SH |  | SOLE |  | 0 | 0 | 47264 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 334547 | 1903 | SH |  | SOLE |  | 0 | 0 | 1903 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 728518 | 3299 | SH |  | SOLE |  | 0 | 0 | 3299 |
| WATSCO INC | COM | 942622200 |  | 289479 | 716 | SH |  | SOLE |  | 0 | 0 | 716 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 3141993 | 37485 | SH |  | SOLE |  | 0 | 0 | 37485 |
| WISDOMTREE TR | CLOUD COMPUTNG | 97717Y691 |  | 1356277 | 38565 | SH |  | SOLE |  | 0 | 0 | 38565 |
| WORKDAY INC | CL A | 98138H101 |  | 5580121 | 23180 | SH |  | SOLE |  | 0 | 0 | 23180 |
| XPENG INC | ADS | 98422D105 |  | 1764627 | 75347 | SH |  | SOLE |  | 0 | 0 | 75347 |
| XOMETRY INC | CLASS A COM | 98423F109 |  | 551999 | 10134 | SH |  | SOLE |  | 0 | 0 | 10134 |

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