# EDGAR Filing Document

**Accession Number:** 0001767559
**File Stem:** 0001172661-26-002266
**Filing Date:** 2026-5
**Character Count:** 26113
**Document Hash:** 8c273f288c23b195498a9e680d3b1c84
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-002266.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001172661-26-002266

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**EFFECTIVENESS DATE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** London & Capital Asset Management Ltd
- **CENTRAL INDEX KEY:** 0001767559

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19372
- **FILM NUMBER:** 26986372

**BUSINESS ADDRESS:**
- **STREET 1:** TWO FITZROY PLACE
- **STREET 2:** 8 MORTIMER STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1T 3JJ
- **BUSINESS PHONE:** 0207 396 3200

**MAIL ADDRESS:**
- **STREET 1:** TWO FITZROY PLACE
- **STREET 2:** 8 MORTIMER STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1T 3JJ

### 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:** London  Capital Asset Management Ltd<br>**Address:** Two Fitzroy Place<br>8 Mortimer Street<br>London, X0 W1T 3JJ

**Form 13F File Number:** 028-19372

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:** Dominic Crabb<br>**Title:** Chief Compliance Officer<br>**Phone:** 0207-396-3200

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

/s/ Dominic Crabb  London, X0  05-15-2026<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:** 1

**Form 13F Information Table Entry Total:** 223

**Form 13F Information Table Value Total:** $9182376658

      (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   |
|:---|:---|:---|
|  | London  Capital Wealth Advisers Ltd | 028-19374              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABORATORIES | COM | 002824100 |  | 744314 | 7257 | SH |  | SOLE |  | 7257 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 1129792 | 5196 | SH |  | SOLE |  | 5196 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 1139638 | 4689 | SH |  | SOLE |  | 4689 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 301877344 | 1484594 | SH |  | SOLE |  | 1484594 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 2518207 | 20063 | SH |  | SOLE |  | 20063 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 84679127 | 295291 | SH |  | SOLE |  | 295291 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 442722136 | 1539555 | SH |  | SOLE |  | 1539555 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 507352699 | 2435975 | SH |  | SOLE |  | 2435975 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 23273490 | 76913 | SH |  | SOLE |  | 76913 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 17960024 | 238719 | SH |  | SOLE |  | 238719 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 252183 | 717 | SH |  | SOLE |  | 717 | 0 | 0 |
| AMPHENOL CORP | CL A | 032095101 |  | 644537 | 5101 | SH |  | SOLE |  | 5101 | 0 | 0 |
| AMPLIFY ETF TR | AMPLIFY JUNIOR S | 032108649 |  | 2970500 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 284057 | 2550 | SH |  | SOLE |  | 2550 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 25181699 | 99248 | SH |  | SOLE |  | 99248 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 348814 | 1021 | SH |  | SOLE |  | 1021 | 0 | 0 |
| ARROWHEAD PHARMACEUTICALS IN | COM | 04280A100 |  | 671051 | 10700 | SH |  | SOLE |  | 10700 | 0 | 0 |
| ASML HLDG NV | N Y REGISTRY SHS | N07059210 |  | 1800032 | 1363 | SH |  | SOLE |  | 1363 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 |  | 2525928 | 24021 | SH |  | SOLE |  | 24021 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 311013 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 2389090 | 49012 | SH |  | SOLE |  | 49012 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 345675 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 530520 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 33138402 | 69137 | SH |  | SOLE |  | 69137 | 0 | 0 |
| BGC GROUP INC | CL A | 088929104 |  | 156560 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 397378 | 16767 | SH |  | SOLE |  | 16767 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 1653167 | 8308 | SH |  | SOLE |  | 8308 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 2701658 | 642 | SH |  | SOLE |  | 642 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1460462 | 4720 | SH |  | SOLE |  | 4720 | 0 | 0 |
| BROOKFIELD RENEWABLE CORP | CL A EX SUB VTG | 11285B108 |  | 282900 | 7100 | SH |  | SOLE |  | 7100 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 1488516 | 5359 | SH |  | SOLE |  | 5359 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 20164972 | 185553 | SH |  | SOLE |  | 185553 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 49553511 | 630051 | SH |  | SOLE |  | 630051 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 282742696 | 1550677 | SH |  | SOLE |  | 1550677 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 468845 | 662 | SH |  | SOLE |  | 662 | 0 | 0 |
| CENCORA INC | COM | 03073E105 |  | 345560 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 73033676 | 257519 | SH |  | SOLE |  | 257519 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 3716384 | 17967 | SH |  | SOLE |  | 17967 | 0 | 0 |
| CIPHER DIGITAL INC | COM | 17253J106 |  | 964875 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 264686 | 3412 | SH |  | SOLE |  | 3412 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 431231372 | 1460242 | SH |  | SOLE |  | 1460242 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 7556113 | 99318 | SH |  | SOLE |  | 99318 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 249169 | 2924 | SH |  | SOLE |  | 2924 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 560438 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| COSAN S A | ADS | 22113B103 |  | 82700 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 507135 | 509 | SH |  | SOLE |  | 509 | 0 | 0 |
| COURSERA INC | COM | 22266M104 |  | 399251 | 68541 | SH |  | SOLE |  | 68541 | 0 | 0 |
| CREDICORP LTD | COM | G2519Y108 |  | 1083728 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 2242484 | 16350 | SH |  | SOLE |  | 16350 | 0 | 0 |
| DELTA AIR LINES INC | COM NEW | 247361702 |  | 365888 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 446312 | 7145 | SH |  | SOLE |  | 7145 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 388731 | 5467 | SH |  | SOLE |  | 5467 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US MKTWIDE VALUE | 25434V724 |  | 928015 | 19160 | SH |  | SOLE |  | 19160 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US EQUITY MARKET | 25434V401 |  | 1116352 | 15741 | SH |  | SOLE |  | 15741 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 784508 | 8141 | SH |  | SOLE |  | 8141 | 0 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 101064416 | 532998 | SH |  | SOLE |  | 532998 | 0 | 0 |
| ELDORADO GOLD CORP NEW | COM | 284902509 |  | 598065 | 17416 | SH |  | SOLE |  | 17416 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 361613 | 393 | SH |  | SOLE |  | 393 | 0 | 0 |
| EMBOTELLADORA ANDINA S A | SPON ADR B | 29081P303 |  | 1075620 | 42000 | SH |  | SOLE |  | 42000 | 0 | 0 |
| ETF OPPORTUNITIES TRUST | HEDGEYE CAPITAL | 26923Q747 |  | 653844 | 22597 | SH |  | SOLE |  | 22597 | 0 | 0 |
| ETFS GOLD TR | PHYSCL GOLD SHS | 00326A104 |  | 25639705 | 574688 | SH |  | SOLE |  | 574688 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 3214923 | 18952 | SH |  | SOLE |  | 18952 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 435069758 | 1864092 | SH |  | SOLE |  | 1864092 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 240991 | 1222 | SH |  | SOLE |  | 1222 | 0 | 0 |
| FIRST TR EXCH TRD ALPHDX FD | UNIT KING ALPH | 33737J224 |  | 776726 | 15425 | SH |  | SOLE |  | 15425 | 0 | 0 |
| FIRST TR EXCH TRD ALPHDX FD | ASIA EX JAPAN | 33737J109 |  | 11105227 | 255410 | SH |  | SOLE |  | 255410 | 0 | 0 |
| FIRST TR EXCHANGE TRAD FD VI | FST TR GLB FD | 33739H101 |  | 6825405 | 237819 | SH |  | SOLE |  | 237819 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | NASDAQ CYB ETF | 33734X846 |  | 240041 | 3831 | SH |  | SOLE |  | 3831 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | FST LOW OPPT EFT | 33739Q200 |  | 18895714 | 379432 | SH |  | SOLE |  | 379432 | 0 | 0 |
| FLEXSHARES TR | MORNSTAR UPSTR | 33939L407 |  | 6343400 | 115000 | SH |  | SOLE |  | 115000 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 446488 | 1806 | SH |  | SOLE |  | 1806 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 392507757 | 1383336 | SH |  | SOLE |  | 1383336 | 0 | 0 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 65838583 | 925284 | SH |  | SOLE |  | 925284 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 402604595 | 461171 | SH |  | SOLE |  | 461171 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 279835 | 2008 | SH |  | SOLE |  | 2008 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 |  | 2065503 | 27101 | SH |  | SOLE |  | 27101 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 506452 | 599 | SH |  | SOLE |  | 599 | 0 | 0 |
| GOLDMAN SACHS PHYSICAL GOLD | UNIT | 38150K103 |  | 235544 | 5100 | SH |  | SOLE |  | 5100 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 229010428 | 62656751 | SH |  | SOLE |  | 62656751 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 1330377 | 53504 | SH |  | SOLE |  | 53504 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 403966 | 1229 | SH |  | SOLE |  | 1229 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 458709 | 2030 | SH |  | SOLE |  | 2030 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 405023 | 9179 | SH |  | SOLE |  | 9179 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 396654591 | 5915803 | SH |  | SOLE |  | 5915803 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 348668252 | 2216370 | SH |  | SOLE |  | 2216370 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 270328608 | 1115102 | SH |  | SOLE |  | 1115102 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 8073085 | 18673 | SH |  | SOLE |  | 18673 | 0 | 0 |
| INTUITIVE MACHINES INC | CLASS A COM | 46125A100 |  | 500445 | 27000 | SH |  | SOLE |  | 27000 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1388257 | 3010 | SH |  | SOLE |  | 3010 | 0 | 0 |
| INVESCO ACTVELY MNGD ETC FD | OPTIMUM YIELD | 46090F100 |  | 290813 | 16810 | SH |  | SOLE |  | 16810 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 305073 | 1590 | SH |  | SOLE |  | 1590 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2115346 | 3665 | SH |  | SOLE |  | 3665 | 0 | 0 |
| ISHARES GOLD TR | SHARES REPRESENT | 46436F103 |  | 339960 | 7282 | SH |  | SOLE |  | 7282 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 502061 | 7198 | SH |  | SOLE |  | 7198 | 0 | 0 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 445568 | 5667 | SH |  | SOLE |  | 5667 | 0 | 0 |
| ISHARES INC | MSCI WORLD ETF | 464286392 |  | 457556 | 2540 | SH |  | SOLE |  | 2540 | 0 | 0 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 |  | 454490 | 5384 | SH |  | SOLE |  | 5384 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1579376 | 23175 | SH |  | SOLE |  | 23175 | 0 | 0 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 579588 | 2651 | SH |  | SOLE |  | 2651 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 936085 | 2526 | SH |  | SOLE |  | 2526 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 4391466 | 122342 | SH |  | SOLE |  | 122342 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 1312328 | 9477 | SH |  | SOLE |  | 9477 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4242307 | 6495 | SH |  | SOLE |  | 6495 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 3871563 | 48653 | SH |  | SOLE |  | 48653 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 321427 | 2586 | SH |  | SOLE |  | 2586 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 424110 | 1189 | SH |  | SOLE |  | 1189 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 674067 | 1581 | SH |  | SOLE |  | 1581 | 0 | 0 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 18315844 | 261021 | SH |  | SOLE |  | 261021 | 0 | 0 |
| ISHARES TR | 0-5YR INVT GR CP | 46434V100 |  | 1357912 | 26900 | SH |  | SOLE |  | 26900 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 511495 | 4635 | SH |  | SOLE |  | 4635 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 348153 | 1815 | SH |  | SOLE |  | 1815 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 247971 | 4368 | SH |  | SOLE |  | 4368 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 726741 | 2931 | SH |  | SOLE |  | 2931 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 10756229 | 191409 | SH |  | SOLE |  | 191409 | 0 | 0 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 600668 | 5967 | SH |  | SOLE |  | 5967 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 275368 | 1288 | SH |  | SOLE |  | 1288 | 0 | 0 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 |  | 713365 | 84975 | SH |  | SOLE |  | 84975 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | BETABUILDERS EUR | 46641Q191 |  | 200169 | 2764 | SH |  | SOLE |  | 2764 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2831676 | 11586 | SH |  | SOLE |  | 11586 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 3119503 | 10601 | SH |  | SOLE |  | 10601 | 0 | 0 |
| KANZHUN LIMITED | SPONSORED ADS | 48553T106 |  | 2979059 | 222900 | SH |  | SOLE |  | 222900 | 0 | 0 |
| KIMBELL RTY PARTNERS LP | UNIT | 49435R102 |  | 361375 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| KONINKLIJKE PHILIPS N V | NY REGIS SHS NEW | 500472303 |  | 363287 | 13256 | SH |  | SOLE |  | 13256 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 689517 | 9612 | SH |  | SOLE |  | 9612 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 1606355 | 18500 | SH |  | SOLE |  | 18500 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 2437605 | 4034 | SH |  | SOLE |  | 4034 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 350948959 | 2023752 | SH |  | SOLE |  | 2023752 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 5098409 | 10201 | SH |  | SOLE |  | 10201 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 609256 | 1960 | SH |  | SOLE |  | 1960 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 67176215 | 38855 | SH |  | SOLE |  | 38855 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1358123 | 11289 | SH |  | SOLE |  | 11289 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2653168 | 4638 | SH |  | SOLE |  | 4638 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 783604 | 2321 | SH |  | SOLE |  | 2321 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 458065549 | 1237530 | SH |  | SOLE |  | 1237530 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 554811 | 1271 | SH |  | SOLE |  | 1271 | 0 | 0 |
| MSC INCOME FUND INC | COM | 55374X208 |  | 323108 | 26506 | SH |  | SOLE |  | 26506 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 253452 | 470 | SH |  | SOLE |  | 470 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 348850 | 3628 | SH |  | SOLE |  | 3628 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 57388253 | 530219 | SH |  | SOLE |  | 530219 | 0 | 0 |
| NGL ENERGY PARTNERS LP | COM UNIT REPST | 62913M107 |  | 715930 | 57970 | SH |  | SOLE |  | 57970 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 4870989 | 27942 | SH |  | SOLE |  | 27942 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 487313 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 8087672 | 87619 | SH |  | SOLE |  | 87619 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 10208528 | 88397 | SH |  | SOLE |  | 88397 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 910688 | 5865 | SH |  | SOLE |  | 5865 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 271906 | 9685 | SH |  | SOLE |  | 9685 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 486897 | 2945 | SH |  | SOLE |  | 2945 | 0 | 0 |
| PIEDMONT REALTY TRUST INC | COM CL A | 720190206 |  | 194357 | 29560 | SH |  | SOLE |  | 29560 | 0 | 0 |
| PLANET LABS PBC | COM CL A | 72703X106 |  | 1479300 | 59650 | SH |  | SOLE |  | 59650 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 1013645 | 7018 | SH |  | SOLE |  | 7018 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 53845442 | 418282 | SH |  | SOLE |  | 418282 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 26883585 | 48950 | SH |  | SOLE |  | 48950 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 394195 | 1099 | SH |  | SOLE |  | 1099 | 0 | 0 |
| ROYAL BK CDA | COM | 780087102 |  | 344885 | 2133 | SH |  | SOLE |  | 2133 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 739540 | 3838 | SH |  | SOLE |  | 3838 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 1765317 | 4151 | SH |  | SOLE |  | 4151 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 1112583 | 5960 | SH |  | SOLE |  | 5960 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 225544 | 7744 | SH |  | SOLE |  | 7744 | 0 | 0 |
| SERIES PORTFOLIOS TR | ELM MARKET NAVIG | 81752T429 |  | 658559 | 24234 | SH |  | SOLE |  | 24234 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 1052445 | 11316 | SH |  | SOLE |  | 11316 | 0 | 0 |
| SHINHAN FINANCIAL GROUP CO L | SPN ADR RESTRD | 824596100 |  | 111674668 | 1823111 | SH |  | SOLE |  | 1823111 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 406105 | 3423 | SH |  | SOLE |  | 3423 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 425361 | 23130 | SH |  | SOLE |  | 23130 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 84822569 | 1650084 | SH |  | SOLE |  | 1650084 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 49467 | 10742 | SH |  | SOLE |  | 10742 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 329144 | 4450 | SH |  | SOLE |  | 4450 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 140835023 | 327333 | SH |  | SOLE |  | 327333 | 0 | 0 |
| SPDR INDEX SHS FDS | STATE STREET SPD | 78463X541 |  | 4330082 | 58009 | SH |  | SOLE |  | 58009 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 5991357 | 9214 | SH |  | SOLE |  | 9214 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 212227 | 646 | SH |  | SOLE |  | 646 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 311879351 | 786829 | SH |  | SOLE |  | 786829 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 361109330 | 1068039 | SH |  | SOLE |  | 1068039 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 1312022 | 6645 | SH |  | SOLE |  | 6645 | 0 | 0 |
| TASEKO MINES LTD | COM | 876511106 |  | 211569 | 32700 | SH |  | SOLE |  | 32700 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 303550 | 5864 | SH |  | SOLE |  | 5864 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 4428717 | 11913 | SH |  | SOLE |  | 11913 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 10423636 | 21966 | SH |  | SOLE |  | 21966 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 390376328 | 793472 | SH |  | SOLE |  | 793472 | 0 | 0 |
| TIDEWATER INC NEW | COM | 88642R109 |  | 225734 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 1891979 | 11843 | SH |  | SOLE |  | 11843 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 327655 | 1560 | SH |  | SOLE |  | 1560 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 247315 | 848 | SH |  | SOLE |  | 848 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 2768249 | 38488 | SH |  | SOLE |  | 38488 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 864094 | 3561 | SH |  | SOLE |  | 3561 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 208881969 | 287121 | SH |  | SOLE |  | 287121 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 238196280 | 880594 | SH |  | SOLE |  | 880594 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 549641 | 1435 | SH |  | SOLE |  | 1435 | 0 | 0 |
| VANECK ETF TRUST | RARE EARTH AND S | 92189H805 |  | 570972 | 6485 | SH |  | SOLE |  | 6485 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 54168176 | 590421 | SH |  | SOLE |  | 590421 | 0 | 0 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 |  | 530049 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 865103 | 1981 | SH |  | SOLE |  | 1981 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 2293994 | 7678 | SH |  | SOLE |  | 7678 | 0 | 0 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 403231 | 1959 | SH |  | SOLE |  | 1959 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 315081 | 1606 | SH |  | SOLE |  | 1606 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 4713383 | 7886 | SH |  | SOLE |  | 7886 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 2394123 | 7461 | SH |  | SOLE |  | 7461 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 849371 | 15716 | SH |  | SOLE |  | 15716 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE PACIFIC ETF | 922042866 |  | 793527 | 8120 | SH |  | SOLE |  | 8120 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 3821793 | 50886 | SH |  | SOLE |  | 50886 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 3536694 | 25568 | SH |  | SOLE |  | 25568 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 606245 | 10183 | SH |  | SOLE |  | 10183 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 840823 | 10161 | SH |  | SOLE |  | 10161 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 539636 | 6808 | SH |  | SOLE |  | 6808 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 2996716 | 13934 | SH |  | SOLE |  | 13934 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 799653 | 12478 | SH |  | SOLE |  | 12478 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 279210 | 1025 | SH |  | SOLE |  | 1025 | 0 | 0 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 652348 | 1775 | SH |  | SOLE |  | 1775 | 0 | 0 |
| VANGUARD WORLD FD | INDUSTRIAL ETF | 92204A603 |  | 699776 | 2240 | SH |  | SOLE |  | 2240 | 0 | 0 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 |  | 308078 | 2550 | SH |  | SOLE |  | 2550 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1141608 | 22748 | SH |  | SOLE |  | 22748 | 0 | 0 |
| VINCI COMPASS INVESTMENTS LT | COM CL A | G9451V109 |  | 380340 | 36000 | SH |  | SOLE |  | 36000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 468035708 | 1549069 | SH |  | SOLE |  | 1549069 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 114305501 | 419616 | SH |  | SOLE |  | 419616 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 402808 | 3241 | SH |  | SOLE |  | 3241 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 1466207 | 6383 | SH |  | SOLE |  | 6383 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 59465080 | 513715 | SH |  | SOLE |  | 513715 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 |  | 1265481 | 15899 | SH |  | SOLE |  | 15899 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 24228896 | 184763 | SH |  | SOLE |  | 184763 | 0 | 0 |
| WISDOMTREE TR | US TOTAL DIVIDND | 97717W109 |  | 230408 | 2670 | SH |  | SOLE |  | 2670 | 0 | 0 |
| WISDOMTREE TR | EMG MKTS SMCAP | 97717W281 |  | 1133811 | 18820 | SH |  | SOLE |  | 18820 | 0 | 0 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 1452593 | 9160 | SH |  | SOLE |  | 9160 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 301193378 | 6174526 | SH |  | SOLE |  | 6174526 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 32686622 | 276759 | SH |  | SOLE |  | 276759 | 0 | 0 |

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