# EDGAR Filing Document

**Accession Number:** 0001536890
**File Stem:** 0001104659-25-077667
**Filing Date:** 2025-8
**Character Count:** 21833
**Document Hash:** ac5dc4a8f1d545d6038ebc47a11c3b8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-077667.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001104659-25-077667

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BAROMETER CAPITAL MANAGEMENT INC.
- **CENTRAL INDEX KEY:** 0001536890

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15883
- **FILM NUMBER:** 251213157

**BUSINESS ADDRESS:**
- **STREET 1:** 181 BAY STREET
- **STREET 2:** SUITE 3220
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J 2T3
- **BUSINESS PHONE:** 416 601 1683

**MAIL ADDRESS:**
- **STREET 1:** 181 BAY STREET
- **STREET 2:** SUITE 3220
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5J 2T3

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** BAROMETER CAPITAL MANAGEMENT INC.<br>**Address:** 181 Bay Street<br>Suite 3220<br>Toronto, A6 M5J 2T3

**Form 13F File Number:** 028-15883

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:** Ron Kelterborn<br>**Title:** Chief Compliance Officer<br>**Phone:** 416-601-6888

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

/s/ Ron Kelterborn  Toronto, A6  08-13-2025<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:** 180

**Form 13F Information Table Value Total:** $361810882

      (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 |
| Alibaba Group Holding Ltd | Common | 01609W102 |  | 181910 | 1604 | SH |  | SOLE |  | 1604 | 0 | 0 |
| Amplify Junior Silver Miners ETF | ETP | 20440W105 |  | 584600 | 39500 | SH |  | SOLE |  | 39500 | 0 | 0 |
| Anglogold Ashanti Plc | Common | G0378L100 |  | 405573 | 8900 | SH |  | SOLE |  | 8900 | 0 | 0 |
| ArcelorMittal SA | Common | 03938L203 |  | 134816 | 4269 | SH |  | SOLE |  | 4269 | 0 | 0 |
| Argenx SE | Common | 04016X101 |  | 413415 | 750 | SH |  | SOLE |  | 750 | 0 | 0 |
| ARK Next Generation Internet ETF | ETP | 00214Q401 |  | 516670 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| ARK Space Exploration  Innovation ETF | ETP | 00214Q807 |  | 292336 | 12100 | SH |  | SOLE |  | 12100 | 0 | 0 |
| Ascendis Pharma A/S | Common | 04351P101 |  | 173291 | 1004 | SH |  | SOLE |  | 1004 | 0 | 0 |
| ASE Technology Holding Co Ltd | Common | 00215W100 |  | 290171 | 29100 | SH |  | SOLE |  | 29100 | 0 | 0 |
| ASML Holding NV | Common | N07059210 |  | 129497 | 162 | SH |  | SOLE |  | 162 | 0 | 0 |
| AT Inc | Common | 00206R102 |  | 264765 | 9240 | SH |  | SOLE |  | 9240 | 0 | 0 |
| Axon Enterprise Inc | Common | 05464C101 |  | 5618401 | 6786 | SH |  | SOLE |  | 6786 | 0 | 0 |
| Baidu Inc | Common | 056752108 |  | 502983 | 5865 | SH |  | SOLE |  | 5865 | 0 | 0 |
| Banco Bilbao Vizcaya Argentaria SA | Common | 05946K101 |  | 641898 | 41763 | SH |  | SOLE |  | 41763 | 0 | 0 |
| Banco Bradesco SA | Common | 059460402 |  | 609415 | 201200 | SH |  | SOLE |  | 201200 | 0 | 0 |
| Banco Macro SA | Common | 05961W105 |  | 619044 | 8871 | SH |  | SOLE |  | 8871 | 0 | 0 |
| Banco Santander SA | Common | 05964H105 |  | 14587109 | 1757483 | SH |  | SOLE |  | 1757483 | 0 | 0 |
| Bank of Montreal | Common | 063671101 |  | 15765458 | 105572 | SH |  | SOLE |  | 105572 | 0 | 0 |
| Bank of Nova Scotia/The | Common | 064149107 |  | 392200 | 5285 | SH |  | SOLE |  | 5285 | 0 | 0 |
| Barclays PLC | Common | 06738E204 |  | 926862 | 50265 | SH |  | SOLE |  | 50265 | 0 | 0 |
| BioNTech SE | Common | 09075V102 |  | 421622 | 3960 | SH |  | SOLE |  | 3960 | 0 | 0 |
| Bloom Energy Corp | Common | 093712107 |  | 287040 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| Boston Scientific Corp | Common | 101137107 |  | 2905441 | 27050 | SH |  | SOLE |  | 27050 | 0 | 0 |
| BP PLC | Common | 055622104 |  | 103259 | 3450 | SH |  | SOLE |  | 3450 | 0 | 0 |
| BRF SA | Common | 10552T107 |  | 157228 | 43076 | SH |  | SOLE |  | 43076 | 0 | 0 |
| Broadcom Inc | Common | 11135F101 |  | 2039810 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| Brookfield Corp | Common | 11271J107 |  | 1468579 | 17425 | SH |  | SOLE |  | 17425 | 0 | 0 |
| Cameco Corp | Common | 13321L108 |  | 11706093 | 115650 | SH |  | SOLE |  | 115650 | 0 | 0 |
| Canadian Imperial Bank of Commerce | Common | 136069101 |  | 309699 | 3204 | SH |  | SOLE |  | 3204 | 0 | 0 |
| Canadian Natural Resources Ltd | Common | 136385101 |  | 6420000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| Centrais Eletricas Brasileiras SA | Common | 15234Q207 |  | 106435 | 14325 | SH |  | SOLE |  | 14325 | 0 | 0 |
| Cheniere Energy Inc | Common | 16411R208 |  | 10947506 | 45051 | SH |  | SOLE |  | 45051 | 0 | 0 |
| Cia Cervecerias Unidas SA | Common | 204429104 |  | 123296 | 9543 | SH |  | SOLE |  | 9543 | 0 | 0 |
| Cia de Minas Buenaventura SAA | Common | 204448104 |  | 806584 | 49122 | SH |  | SOLE |  | 49122 | 0 | 0 |
| Cia Siderurgica Nacional SA | Common | 20440W105 |  | 254603 | 181859 | SH |  | SOLE |  | 181859 | 0 | 0 |
| Cisco Systems Inc | Common | 17275R102 |  | 6524108 | 94600 | SH |  | SOLE |  | 94600 | 0 | 0 |
| CME Group Inc | Common | 12572Q105 |  | 1520596 | 5517 | SH |  | SOLE |  | 5517 | 0 | 0 |
| Communication Services Select Sector SPDR Fund | ETP | 81369Y852 |  | 195354 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| Cosan SA | Common | 22113B103 |  | 345925 | 68500 | SH |  | SOLE |  | 68500 | 0 | 0 |
| CRH PLC | Common | G25508105 |  | 344250 | 3750 | SH |  | SOLE |  | 3750 | 0 | 0 |
| Criteo SA | Common | 226718104 |  | 116638 | 4868 | SH |  | SOLE |  | 4868 | 0 | 0 |
| Crowdstrike Holdings Inc | Common | 22788C105 |  | 4030171 | 7913 | SH |  | SOLE |  | 7913 | 0 | 0 |
| Daqo New Energy Corp | Common | 23703Q203 |  | 321604 | 21200 | SH |  | SOLE |  | 21200 | 0 | 0 |
| Darden Restaurants Inc | Common | 237194105 |  | 10430322 | 48187 | SH |  | SOLE |  | 48187 | 0 | 0 |
| Ecopetrol SA | Common | 279158109 |  | 384090 | 43400 | SH |  | SOLE |  | 43400 | 0 | 0 |
| Embraer SA | Common | 29082A107 |  | 5231168 | 91920 | SH |  | SOLE |  | 91920 | 0 | 0 |
| Enbridge Inc | Common | 29250N105 |  | 2982217 | 48295 | SH |  | SOLE |  | 48295 | 0 | 0 |
| Endava PLC | Common | 29260V105 |  | 173116 | 11300 | SH |  | SOLE |  | 11300 | 0 | 0 |
| Enel Chile SA | Common | 29278D105 |  | 558665 | 153902 | SH |  | SOLE |  | 153902 | 0 | 0 |
| Eni SpA | Common | 26874R108 |  | 118431 | 3653 | SH |  | SOLE |  | 3653 | 0 | 0 |
| Expand Energy Corp | Common | 165167735 |  | 11551217 | 98779 | SH |  | SOLE |  | 98779 | 0 | 0 |
| Financial Select Sector SPDR Fund | ETP | 81369Y605 |  | 410581 | 7840 | SH |  | SOLE |  | 7840 | 0 | 0 |
| First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | ETP | 33737A108 |  | 222432 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| First Trust NASDAQ Cybersecurity ETF | ETP | 33734X846 |  | 453480 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| First Trust NASDAQ Technology Dividend Index Fund | ETP | 33738R118 |  | 486918 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| FlexShares Morningstar Global Upstream Natural Resources Index Fund | ETP | 33939L407 |  | 453243 | 11300 | SH |  | SOLE |  | 11300 | 0 | 0 |
| Franco-Nevada Corp | Common | 351858105 |  | 723249 | 3235 | SH |  | SOLE |  | 3235 | 0 | 0 |
| Freeport-McMoRan Inc | Common | 35671D857 |  | 3288091 | 76100 | SH |  | SOLE |  | 76100 | 0 | 0 |
| Fresenius Medical Care AG | Common | 358029106 |  | 522831 | 18300 | SH |  | SOLE |  | 18300 | 0 | 0 |
| Full Truck Alliance Co Ltd | Common | 35969L108 |  | 212781 | 18017 | SH |  | SOLE |  | 18017 | 0 | 0 |
| Futu Holdings Ltd | Common | 36118L106 |  | 668375 | 5408 | SH |  | SOLE |  | 5408 | 0 | 0 |
| Galapagos NV | Common | 36315X101 |  | 473507 | 16917 | SH |  | SOLE |  | 16917 | 0 | 0 |
| GDS Holdings Ltd | Common | 36165L108 |  | 1607982 | 52600 | SH |  | SOLE |  | 52600 | 0 | 0 |
| GE Vernova Inc | Common | 36828A101 |  | 13889963 | 26261 | SH |  | SOLE |  | 26261 | 0 | 0 |
| General Electric Co | Common | 369604301 |  | 9375126 | 36477 | SH |  | SOLE |  | 36477 | 0 | 0 |
| Genmab A/S | Common | 372303206 |  | 395371 | 19137 | SH |  | SOLE |  | 19137 | 0 | 0 |
| GFL Environmental Inc | Common | 36168Q104 |  | 3453065 | 50250 | SH |  | SOLE |  | 50250 | 0 | 0 |
| Global X Copper Miners ETF | ETP | 37954Y830 |  | 562500 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| Global X MSCI Argentina ETF | ETP | 37950E259 |  | 449069 | 5300 | SH |  | SOLE |  | 5300 | 0 | 0 |
| Global X Silver Miners ETF | ETP | 37954Y848 |  | 442888 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| Global X Uranium ETF | ETP | 37954Y871 |  | 465720 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| Gold Fields Ltd | Common | 38059T106 |  | 562068 | 23746 | SH |  | SOLE |  | 23746 | 0 | 0 |
| Grupo Aeroportuario del Centro Norte SAB de CV | Common | 400501102 |  | 152975 | 1450 | SH |  | SOLE |  | 1450 | 0 | 0 |
| Grupo Cibest SA | Common | 40090E106 |  | 190026 | 4114 | SH |  | SOLE |  | 4114 | 0 | 0 |
| Grupo Financiero Galicia SA | Common | 399909100 |  | 345855 | 6884 | SH |  | SOLE |  | 6884 | 0 | 0 |
| Grupo Televisa SAB | Common | 40049J206 |  | 240024 | 109600 | SH |  | SOLE |  | 109600 | 0 | 0 |
| GSK PLC | Common | 37733W204 |  | 127604 | 3323 | SH |  | SOLE |  | 3323 | 0 | 0 |
| Harmony Gold Mining Co Ltd | Common | 413216300 |  | 1080147 | 77319 | SH |  | SOLE |  | 77319 | 0 | 0 |
| Hello Group Inc | Common | 423403104 |  | 146046 | 17304 | SH |  | SOLE |  | 17304 | 0 | 0 |
| Howmet Aerospace Inc | Common | 443201108 |  | 15483223 | 83240 | SH |  | SOLE |  | 83240 | 0 | 0 |
| HSBC Holdings PLC | Common | 404280406 |  | 576290 | 9480 | SH |  | SOLE |  | 9480 | 0 | 0 |
| Hudbay Minerals Inc | Common | 443628102 |  | 1784575 | 123500 | SH |  | SOLE |  | 123500 | 0 | 0 |
| Imperial Oil Ltd | Common | 453038408 |  | 11784107 | 108840 | SH |  | SOLE |  | 108840 | 0 | 0 |
| Industrial Select Sector SPDR Fund | ETP | 81369Y704 |  | 560576 | 3800 | SH |  | SOLE |  | 3800 | 0 | 0 |
| InterContinental Hotels Group PLC | Common | 45857P806 |  | 639907 | 5548 | SH |  | SOLE |  | 5548 | 0 | 0 |
| iShares Asia 50 ETF | ETP | 464288430 |  | 470148 | 5800 | SH |  | SOLE |  | 5800 | 0 | 0 |
| iShares Bitcoin Trust ETF | ETP | 46438F101 |  | 814093 | 13300 | SH |  | SOLE |  | 13300 | 0 | 0 |
| iShares ESG Aware MSCI EM ETF | ETP | 46434G863 |  | 266356 | 6800 | SH |  | SOLE |  | 6800 | 0 | 0 |
| iShares Europe ETF | ETP | 464287861 |  | 202400 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| iShares International Select Dividend ETF | ETP | 464288448 |  | 410669 | 11900 | SH |  | SOLE |  | 11900 | 0 | 0 |
| iShares MSCI Australia ETF | ETP | 464286103 |  | 313208 | 11900 | SH |  | SOLE |  | 11900 | 0 | 0 |
| iShares MSCI Chile ETF | ETP | 464286640 |  | 305065 | 9700 | SH |  | SOLE |  | 9700 | 0 | 0 |
| iShares MSCI Europe Financials ETF | ETP | 464289180 |  | 504499 | 15950 | SH |  | SOLE |  | 15950 | 0 | 0 |
| iShares MSCI Eurozone ETF | ETP | 464286608 |  | 136735 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| iShares MSCI Germany ETF | ETP | 464286806 |  | 528875 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| iShares MSCI Intl Momentum Factor ETF | ETP | 46434V449 |  | 575694 | 12600 | SH |  | SOLE |  | 12600 | 0 | 0 |
| iShares MSCI Peru and Global Exposure ETF | ETP | 464289842 |  | 315835 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| iShares MSCI Singapore ETF | ETP | 46434G780 |  | 540384 | 20800 | SH |  | SOLE |  | 20800 | 0 | 0 |
| iShares MSCI Spain ETF | ETP | 464286764 |  | 378658 | 8600 | SH |  | SOLE |  | 8600 | 0 | 0 |
| iShares MSCI Taiwan ETF | ETP | 46434G772 |  | 189420 | 3300 | SH |  | SOLE |  | 3300 | 0 | 0 |
| iShares MSCI USA Momentum Factor ETF | ETP | 46432F396 |  | 552736 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| iShares U.S. Aerospace  Defense ETF | ETP | 464288760 |  | 135821 | 720 | SH |  | SOLE |  | 720 | 0 | 0 |
| iShares U.S. Broker-Dealers  Securities Exchanges ETF | ETP | 464288794 |  | 524334 | 3100 | SH |  | SOLE |  | 3100 | 0 | 0 |
| Japan Smaller Capitalization Fund Inc | ETP | 47109U104 |  | 497660 | 52100 | SH |  | SOLE |  | 52100 | 0 | 0 |
| JD.com Inc | Common | 47215P106 |  | 456960 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| JPMorgan Chase  Co | Common | 46625H100 |  | 12521777 | 43400 | SH |  | SOLE |  | 43400 | 0 | 0 |
| KB Financial Group Inc | Common | 48241A105 |  | 251322 | 3043 | SH |  | SOLE |  | 3043 | 0 | 0 |
| KE Holdings Inc | Common | 482497104 |  | 139206 | 7847 | SH |  | SOLE |  | 7847 | 0 | 0 |
| Kinross Gold Corp | Common | 496902404 |  | 2095173 | 98550 | SH |  | SOLE |  | 98550 | 0 | 0 |
| Korea Electric Power Corp | Common | 500631106 |  | 242294 | 17015 | SH |  | SOLE |  | 17015 | 0 | 0 |
| Lam Research Corp | Common | 512807306 |  | 3724229 | 38260 | SH |  | SOLE |  | 38260 | 0 | 0 |
| Lufax Holding Ltd | Common | 54975P201 |  | 225432 | 80800 | SH |  | SOLE |  | 80800 | 0 | 0 |
| Meta Platforms Inc | Common | 30303M102 |  | 11841178 | 16043 | SH |  | SOLE |  | 16043 | 0 | 0 |
| Microsoft Corp | Common | 594918104 |  | 9042417 | 18179 | SH |  | SOLE |  | 18179 | 0 | 0 |
| MINISO Group Holding Ltd | Common | 66981J102 |  | 307918 | 16900 | SH |  | SOLE |  | 16900 | 0 | 0 |
| Mitsubishi UFJ Financial Group Inc | Common | 606822104 |  | 451388 | 32900 | SH |  | SOLE |  | 32900 | 0 | 0 |
| Mizuho Financial Group Inc | Common | 60687Y109 |  | 206121 | 37072 | SH |  | SOLE |  | 37072 | 0 | 0 |
| Morgan Stanley | Common | 617446448 |  | 7550746 | 53977 | SH |  | SOLE |  | 53977 | 0 | 0 |
| NatWest Group PLC | Common | 639057207 |  | 739537 | 53224 | SH |  | SOLE |  | 53224 | 0 | 0 |
| Netflix Inc | Common | 64110L106 |  | 5527929 | 4128 | SH |  | SOLE |  | 4128 | 0 | 0 |
| New Oriental Education  Technology Group Inc | Common | 647581206 |  | 485550 | 9000 | SH |  | SOLE |  | 9000 | 0 | 0 |
| Nutrien Ltd | Common | 67077M108 |  | 11151849 | 140540 | SH |  | SOLE |  | 140540 | 0 | 0 |
| NVIDIA Corp | Common | 67066G104 |  | 11782421 | 74577 | SH |  | SOLE |  | 74577 | 0 | 0 |
| Pampa Energia SA | Common | 697660207 |  | 409342 | 5900 | SH |  | SOLE |  | 5900 | 0 | 0 |
| PDD Holdings Inc | Common | 722304102 |  | 240718 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| Pearson PLC | Common | 705015105 |  | 149465 | 10011 | SH |  | SOLE |  | 10011 | 0 | 0 |
| PLDT Inc | Common | 69344D408 |  | 113675 | 5224 | SH |  | SOLE |  | 5224 | 0 | 0 |
| ProShares Ultra Silver | ETP | 74347W353 |  | 132972 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| Qfin Holdings Inc | Common | 88557W101 |  | 799472 | 18438 | SH |  | SOLE |  | 18438 | 0 | 0 |
| Royal Bank of Canada | Common | 780087102 |  | 8955764 | 50326 | SH |  | SOLE |  | 50326 | 0 | 0 |
| RTX Corp | Common | 75513E101 |  | 6519355 | 44647 | SH |  | SOLE |  | 44647 | 0 | 0 |
| SAP SE | Common | 803054204 |  | 516970 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| Sasol Ltd | Common | 803866300 |  | 229049 | 51821 | SH |  | SOLE |  | 51821 | 0 | 0 |
| Sea Ltd | Common | 81141R100 |  | 4364763 | 27290 | SH |  | SOLE |  | 27290 | 0 | 0 |
| Select STOXX Europe Aerospace  Defense ETF | ETP | 84858T772 |  | 560950 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| Silicon Motion Technology Corp | Common | 82706C108 |  | 152048 | 2036 | SH |  | SOLE |  | 2036 | 0 | 0 |
| SiTime Corp | Common | 82982T106 |  | 3347487 | 15710 | SH |  | SOLE |  | 15710 | 0 | 0 |
| Snowflake Inc | Common | 833445109 |  | 255098 | 1140 | SH |  | SOLE |  | 1140 | 0 | 0 |
| Sociedad Quimica y Minera de Chile SA | Common | 833635105 |  | 324484 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| SPDR S 500 ETF Trust | ETP | 78462F103 |  | 293479 | 475 | SH |  | SOLE |  | 475 | 0 | 0 |
| SPDR S Aerospace  Defense ETF | ETP | 78464A631 |  | 527350 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| SPDR S Capital Markets ETF | ETP | 78464A771 |  | 130437 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| SPDR S Metals  Mining ETF | ETP | 78464A755 |  | 342822 | 5100 | SH |  | SOLE |  | 5100 | 0 | 0 |
| Sprott Gold Miners ETF | ETP | 85210B102 |  | 674076 | 14900 | SH |  | SOLE |  | 14900 | 0 | 0 |
| Sprott Junior Copper Miners ETF | ETP | 85208P501 |  | 465880 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| Sprott Physical Gold Trust | ETP | 85207H104 |  | 692055 | 27300 | SH |  | SOLE |  | 27300 | 0 | 0 |
| Sprott Physical Silver Trust | ETP | 85207K107 |  | 689112 | 56300 | SH |  | SOLE |  | 56300 | 0 | 0 |
| Stantec Inc | Common | 85472N109 |  | 6879534 | 46430 | SH |  | SOLE |  | 46430 | 0 | 0 |
| Sumitomo Mitsui Financial Group Inc | Common | 86562M209 |  | 597661 | 39554 | SH |  | SOLE |  | 39554 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co Ltd | Common | 874039100 |  | 680150 | 3003 | SH |  | SOLE |  | 3003 | 0 | 0 |
| Take-Two Interactive Software Inc | Common | 874054109 |  | 1967085 | 8100 | SH |  | SOLE |  | 8100 | 0 | 0 |
| TC Energy Corp | Common | 87807B107 |  | 1828200 | 27500 | SH |  | SOLE |  | 27500 | 0 | 0 |
| Telefonica Brasil SA | Common | 87936R205 |  | 365857 | 32200 | SH |  | SOLE |  | 32200 | 0 | 0 |
| Telkom Indonesia Persero Tbk PT | Common | 715684106 |  | 1866788 | 110200 | SH |  | SOLE |  | 110200 | 0 | 0 |
| Tencent Music Entertainment Group | Common | 88034P109 |  | 576904 | 29600 | SH |  | SOLE |  | 29600 | 0 | 0 |
| Teva Pharmaceutical Industries Ltd | Common | 881624209 |  | 330172 | 19700 | SH |  | SOLE |  | 19700 | 0 | 0 |
| TIM SA/Brazil | Common | 88706T108 |  | 132566 | 6634 | SH |  | SOLE |  | 6634 | 0 | 0 |
| Toronto-Dominion Bank/The | Common | 891160509 |  | 112308 | 1133 | SH |  | SOLE |  | 1133 | 0 | 0 |
| TotalEnergies SE | Common | 88034P109 |  | 109827 | 1789 | SH |  | SOLE |  | 1789 | 0 | 0 |
| Trip.com Group Ltd | Common | 89677Q107 |  | 206824 | 3527 | SH |  | SOLE |  | 3527 | 0 | 0 |
| Triple Flag Precious Metals Corp | Common | 89679M104 |  | 319671 | 9900 | SH |  | SOLE |  | 9900 | 0 | 0 |
| Turkcell Iletisim Hizmetleri AS | Common | 900111204 |  | 405447 | 67016 | SH |  | SOLE |  | 67016 | 0 | 0 |
| UBS Group AG | Common | H42097107 |  | 490018 | 14489 | SH |  | SOLE |  | 14489 | 0 | 0 |
| United Microelectronics Corp | Common | 910873405 |  | 118170 | 15447 | SH |  | SOLE |  | 15447 | 0 | 0 |
| Unity Software Inc | Common | 91332U101 |  | 3582133 | 148022 | SH |  | SOLE |  | 148022 | 0 | 0 |
| VanEck Junior Gold Miners ETF | ETP | 92189F791 |  | 574515 | 8500 | SH |  | SOLE |  | 8500 | 0 | 0 |
| VanEck Uranium and Nuclear ETF | ETP | 92189F601 |  | 455838 | 4100 | SH |  | SOLE |  | 4100 | 0 | 0 |
| Vanguard FTSE All-World ex-US ETF | ETP | 922042775 |  | 389876 | 5800 | SH |  | SOLE |  | 5800 | 0 | 0 |
| Verona Pharma PLC | Common | 925050106 |  | 1040380 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| Visa Inc | Common | 92826C839 |  | 10337636 | 29116 | SH |  | SOLE |  | 29116 | 0 | 0 |
| Vodafone Group PLC | Common | 92857W308 |  | 442390 | 41500 | SH |  | SOLE |  | 41500 | 0 | 0 |
| Weibo Corp | Common | 948596101 |  | 422179 | 44300 | SH |  | SOLE |  | 44300 | 0 | 0 |
| Wheaton Precious Metals Corp | Common | 962879102 |  | 8237885 | 67270 | SH |  | SOLE |  | 67270 | 0 | 0 |
| Wipro Ltd | Common | 97651M109 |  | 271728 | 91800 | SH |  | SOLE |  | 91800 | 0 | 0 |
| WisdomTree India Earnings Fund | ETP | 97717W422 |  | 303808 | 6400 | SH |  | SOLE |  | 6400 | 0 | 0 |
| Woodside Energy Group Ltd | Common | 980228308 |  | 1161972 | 75306 | SH |  | SOLE |  | 75306 | 0 | 0 |
| XPeng Inc | Common | 98422D105 |  | 833208 | 46600 | SH |  | SOLE |  | 46600 | 0 | 0 |
| YPF SA | Common | 984245100 |  | 377400 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| Zai Lab Ltd | Common | 98887Q104 |  | 825292 | 23600 | SH |  | SOLE |  | 23600 | 0 | 0 |
| ZTO Express Cayman Inc | Common | 98980A105 |  | 108524 | 6114 | SH |  | SOLE |  | 6114 | 0 | 0 |

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