# EDGAR Filing Document

**Accession Number:** 0001697323
**File Stem:** 0001636587-26-000004
**Filing Date:** 2026-2
**Character Count:** 21101
**Document Hash:** eec571f0038ad8d1a95be2f2cc535407
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001636587-26-000004.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001636587-26-000004

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Greenline Partners, LLC
- **CENTRAL INDEX KEY:** 0001697323

**ORGANIZATION NAME:**
- **EIN:** 455129009
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18839
- **FILM NUMBER:** 26638964

**BUSINESS ADDRESS:**
- **STREET 1:** 521 FIFTH AVENUE
- **STREET 2:** SUITE 1706
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10175
- **BUSINESS PHONE:** 646-470-8714

**MAIL ADDRESS:**
- **STREET 1:** 521 FIFTH AVENUE
- **STREET 2:** SUITE 1706
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10175

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Greenline Partners LLC<br>**Address:** 521 FIFTH AVENUE<br>SUITE 1706<br>NEW YORK, NY 10175

**Form 13F File Number:** 028-18839

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:** Ivan Lucuk<br>**Title:** Chief Compliance Officer<br>**Phone:** 203-590-2261

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

Ivan Lucuk  New York, NY  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 177

**Form 13F Information Table Value Total:** $874142934

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 114640 | 915 | SH |  | OTR |  | 0 | 915 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 86826 | 693 | SH |  | SOLE |  | 693 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 244484 | 1070 | SH |  | SOLE |  | 1070 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 209068 | 915 | SH |  | OTR |  | 0 | 915 | 0 |
| ETFS GOLD TR | PHYSCL GOLD SHS | 00326A104 |  | 289860 | 7056 | SH |  | SOLE |  | 7056 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 317021 | 1870 | SH |  | OTR |  | 0 | 1870 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 240224 | 1417 | SH |  | SOLE |  | 1417 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 9242397 | 65345 | SH |  | SOLE |  | 65345 | 0 | 0 |
| ALPS ETF TR | ALERIAN ENERGY | 00162Q676 |  | 1379805 | 43866 | SH |  | SOLE |  | 43866 | 0 | 0 |
| ALPHABET INC CAP STK | CL A | 02079K305 |  | 688600 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| ALPHABET INC CAP STK | CL C | 02079K107 |  | 22564417 | 71907 | SH |  | SOLE |  | 71907 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 312344 | 5417 | SH |  | SOLE |  | 5417 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 10536471 | 45648 | SH |  | SOLE |  | 45648 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 1248033 | 3813 | SH |  | SOLE |  | 3813 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 12341085 | 45395 | SH |  | SOLE |  | 45395 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1018953 | 17724 | SH |  | SOLE |  | 17724 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 649218 | 26136 | SH |  | SOLE |  | 26136 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1536692 | 5974 | SH |  | SOLE |  | 5974 | 0 | 0 |
| AMERICAN CENTY ETF TR | INTL SMCP VLU | 025072802 |  | 37896316 | 403281 | SH |  | SOLE |  | 403281 | 0 | 0 |
| AMERICAN CENTY ETF TR | US SML CP VALU | 025072877 |  | 32445957 | 318160 | SH |  | SOLE |  | 318160 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 735900 | 13380 | SH |  | SOLE |  | 13380 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 775713 | 17812 | SH |  | SOLE |  | 17812 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 276455 | 6348 | SH |  | OTR |  | 0 | 6348 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 3809760 | 54332 | SH |  | SOLE |  | 54332 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 34383271 | 68404 | SH |  | SOLE |  | 68404 | 0 | 0 |
| BHP GROUP LTD SPONSORED ADS | ADR | 088606108 |  | 7442897 | 123288 | SH |  | SOLE |  | 123288 | 0 | 0 |
| BLACKROCK INC COM | COM | 09290D101 |  | 4470810 | 4177 | SH |  | SOLE |  | 4177 | 0 | 0 |
| BONDBLOXX ETF TRUST | BLOOMBERG ONE YR | 09789C861 |  | 230090 | 4645 | SH |  | SOLE |  | 4645 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 872919 | 163 | SH |  | SOLE |  | 163 | 0 | 0 |
| BP PLC SPONSORED ADR | ADR | 055622104 |  | 315661 | 9089 | SH |  | SOLE |  | 9089 | 0 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 4818344 | 142344 | SH |  | SOLE |  | 142344 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 1641350 | 42478 | SH |  | SOLE |  | 42478 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 711505 | 1242 | SH |  | SOLE |  | 1242 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 11195365 | 57592 | SH |  | SOLE |  | 57592 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 4786588 | 31406 | SH |  | SOLE |  | 31406 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 8352955 | 26762 | SH |  | SOLE |  | 26762 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 1556173 | 16624 | SH |  | SOLE |  | 16624 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 196487 | 2099 | SH |  | OTR |  | 0 | 2099 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2549939 | 2957 | SH |  | SOLE |  | 2957 | 0 | 0 |
| CREDIT ACCEPTANCE CORP | COM | 225310101 |  | 5964537 | 13450 | SH |  | SOLE |  | 13450 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 2801335 | 6017 | SH |  | SOLE |  | 6017 | 0 | 0 |
| DIAGEO PLC SPON | ADR NEW | 25243Q205 |  | 1315272 | 15246 | SH |  | SOLE |  | 15246 | 0 | 0 |
| DIMENSIONAL ETF TRUST | INTL SMALL CAP V | 25434V781 |  | 8562692 | 225334 | SH |  | SOLE |  | 225334 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 304744 | 5118 | SH |  | SOLE |  | 5118 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 126734 | 2128 | SH |  | OTR |  | 0 | 2128 | 0 |
| DIMENSIONAL ETF TRUST | US SMALL CAP VAL | 25434V815 |  | 12715406 | 386604 | SH |  | SOLE |  | 386604 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 1012712 | 11627 | SH |  | SOLE |  | 11627 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 14469579 | 302521 | SH |  | SOLE |  | 302521 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 298890 | 6249 | SH |  | OTR |  | 0 | 6249 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 590507 | 35810 | SH |  | SOLE |  | 35810 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 2772132 | 86467 | SH |  | SOLE |  | 86467 | 0 | 0 |
| EOG RESOURCES INC | COM | 26875P101 |  | 3320731 | 31623 | SH |  | SOLE |  | 31623 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 4127181 | 34296 | SH |  | SOLE |  | 34296 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 1728093 | 8337 | SH |  | SOLE |  | 8337 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 160227 | 773 | SH |  | OTR |  | 0 | 773 | 0 |
| FRANKLIN TEMPLETON ETF TR | FTSE SOUTH KOREA | 35473P710 |  | 246913 | 7704 | SH |  | SOLE |  | 7704 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 6640081 | 130736 | SH |  | SOLE |  | 130736 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1605054 | 1826 | SH |  | SOLE |  | 1826 | 0 | 0 |
| GRAYSCALE ETHEREUM MINI TR E | SHS NEW | 38964R203 |  | 373579 | 13313 | SH |  | SOLE |  | 13313 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 4301938 | 12502 | SH |  | SOLE |  | 12502 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 2312597 | 62672 | SH |  | SOLE |  | 62672 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 232208 | 410 | SH |  | SOLE |  | 410 | 0 | 0 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 10198454 | 99604 | SH |  | SOLE |  | 99604 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 2843268 | 16847 | SH |  | SOLE |  | 16847 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 338464 | 6817 | SH |  | SOLE |  | 6817 | 0 | 0 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 425149 | 3496 | SH |  | SOLE |  | 3496 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 1077537 | 16030 | SH |  | SOLE |  | 16030 | 0 | 0 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 799002 | 9440 | SH |  | SOLE |  | 9440 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1970572 | 2877 | SH |  | SOLE |  | 2877 | 0 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 2617177 | 15584 | SH |  | OTR |  | 0 | 15584 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 2013601 | 11990 | SH |  | SOLE |  | 11990 | 0 | 0 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 2004144 | 19545 | SH |  | SOLE |  | 19545 | 0 | 0 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 1652227 | 16113 | SH |  | OTR |  | 0 | 16113 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 8103526 | 99834 | SH |  | SOLE |  | 99834 | 0 | 0 |
| ISHARES GOLD TR | SHARES REPRESENT | 46436F103 |  | 4992257 | 116126 | SH |  | SOLE |  | 116126 | 0 | 0 |
| ISHARES TR | IBONDS DEC2026 | 46435GAA0 |  | 3001540 | 123877 | SH |  | SOLE |  | 123877 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 2011636 | 20948 | SH |  | OTR |  | 0 | 20948 | 0 |
| ISHARES INC | MSCI GBL ETF NEW | 46434G848 |  | 26076434 | 507916 | SH |  | SOLE |  | 507916 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 5123441 | 13244 | SH |  | SOLE |  | 13244 | 0 | 0 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 793511 | 34463 | SH |  | SOLE |  | 34463 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 6330394 | 30589 | SH |  | SOLE |  | 30589 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 4503025 | 13975 | SH |  | SOLE |  | 13975 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 270987 | 841 | SH |  | OTR |  | 0 | 841 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 1629577 | 12783 | SH |  | SOLE |  | 12783 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 584572 | 2424 | SH |  | SOLE |  | 2424 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 809347 | 2266 | SH |  | SOLE |  | 2266 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 8013895 | 3728 | SH |  | SOLE |  | 3728 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 5550095 | 9722 | SH |  | SOLE |  | 9722 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 151287 | 495 | SH |  | SOLE |  | 495 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 113389 | 371 | SH |  | OTR |  | 0 | 371 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 385778 | 3665 | SH |  | SOLE |  | 3665 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 51367 | 488 | SH |  | OTR |  | 0 | 488 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 8224721 | 12460 | SH |  | SOLE |  | 12460 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 10816645 | 22366 | SH |  | SOLE |  | 22366 | 0 | 0 |
| MPLX LP | COM UNIT REP LTD | 55336V100 |  | 1303242 | 24419 | SH |  | SOLE |  | 24419 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 794207 | 7954 | SH |  | SOLE |  | 7954 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 217873 | 2182 | SH |  | OTR |  | 0 | 2182 | 0 |
| NOVO-NORDISK A S ADR | ADR | 670100205 |  | 2008539 | 39476 | SH |  | SOLE |  | 39476 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2652776 | 14224 | SH |  | SOLE |  | 14224 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 911596 | 125 | SH |  | SOLE |  | 125 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 3186759 | 77499 | SH |  | SOLE |  | 77499 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 4210610 | 26422 | SH |  | SOLE |  | 26422 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 183419 | 1278 | SH |  | SOLE |  | 1278 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 87404 | 609 | SH |  | OTR |  | 0 | 609 | 0 |
| PFIZER INC | COM | 717081103 |  | 1362951 | 54737 | SH |  | SOLE |  | 54737 | 0 | 0 |
| PHILIP MORRIS INTERNATIONAL INC | COM | 718172109 |  | 588026 | 3666 | SH |  | SOLE |  | 3666 | 0 | 0 |
| PIMCO ETF TR | 15+ YR US TIPS | 72201R304 |  | 1518336 | 29339 | SH |  | SOLE |  | 29339 | 0 | 0 |
| 72201R 90 4 PIMCO | UNIT LTD PARTN | 726503105 |  | 568290 | 31642 | SH |  | SOLE |  | 31642 | 0 | 0 |
| POSCO HOLDINGS INC SPONSORED ADR | ADR | 693483109 |  | 2312613 | 43462 | SH |  | SOLE |  | 43462 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 957024 | 6678 | SH |  | SOLE |  | 6678 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 59330 | 414 | SH |  | OTR |  | 0 | 414 | 0 |
| QUANTUMSCAPE CORP | COM CL A | 74767V109 |  | 104200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| RIO TINTO PLC SPONSORED ADR | ADR | 767204100 |  | 11227169 | 140287 | SH |  | SOLE |  | 140287 | 0 | 0 |
| RIO TINTO PLC SPONSORED ADR | ADR | 767204100 |  | 335886 | 4197 | SH |  | OTR |  | 0 | 4197 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 988079 | 4445 | SH |  | SOLE |  | 4445 | 0 | 0 |
| ROYAL GOLD INC | COM | 780287108 |  | 144711 | 651 | SH |  | OTR |  | 0 | 651 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 2254669 | 22567 | SH |  | SOLE |  | 22567 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 249675 | 2499 | SH |  | OTR |  | 0 | 2499 | 0 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 1402223 | 42815 | SH |  | SOLE |  | 42815 | 0 | 0 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 2748091 | 109573 | SH |  | SOLE |  | 109573 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 970471 | 40369 | SH |  | SOLE |  | 40369 | 0 | 0 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 7746931 | 317888 | SH |  | SOLE |  | 317888 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 656713 | 25036 | SH |  | SOLE |  | 25036 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 14616671 | 551780 | SH |  | SOLE |  | 551780 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 942991 | 35598 | SH |  | OTR |  | 0 | 35598 | 0 |
| SEMPRA | COM | 816851109 |  | 554814 | 6284 | SH |  | SOLE |  | 6284 | 0 | 0 |
| SHELL PLC SPON ADS | ADR | 780259305 |  | 282971 | 3851 | SH |  | SOLE |  | 3851 | 0 | 0 |
| SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B | ADR | 833635105 |  | 1150130 | 16717 | SH |  | SOLE |  | 16717 | 0 | 0 |
| SOUTH BOW CORP | COM | 83671M105 |  | 1337981 | 48707 | SH |  | SOLE |  | 48707 | 0 | 0 |
| SOUTH BOW CORP | COM | 83671M105 |  | 31865 | 1160 | SH |  | OTR |  | 0 | 1160 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 15020884 | 104697 | SH |  | SOLE |  | 104697 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 464699 | 3239 | SH |  | OTR |  | 0 | 3239 | 0 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 49191560 | 576216 | SH |  | SOLE |  | 576216 | 0 | 0 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 1427643 | 16723 | SH |  | OTR |  | 0 | 16723 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2000969 | 5049 | SH |  | SOLE |  | 5049 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 680166 | 8756 | SH |  | SOLE |  | 8756 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 2807430 | 62792 | SH |  | SOLE |  | 62792 | 0 | 0 |
| SPDR SERIES TRUST | SPDR SERIES TRUST STATE STREET SPD | 78464A870 |  | 3500732 | 28711 | SH |  | SOLE |  | 28711 | 0 | 0 |
| SPDR SERIES TRUST STATE | STREET SPD | 78464A755 |  | 4207809 | 40612 | SH |  | SOLE |  | 40612 | 0 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 941497 | 21224 | SH |  | SOLE |  | 21224 | 0 | 0 |
| TC ENERGY CORP | COM | 87807B107 |  | 14626196 | 267663 | SH |  | SOLE |  | 267663 | 0 | 0 |
| TC ENERGY CORP | COM | 87807B107 |  | 319168 | 5802 | SH |  | OTR |  | 0 | 5802 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 527190 | 3432 | SH |  | SOLE |  | 3432 | 0 | 0 |
| TOTALENERGIES SE | ACT | F92124100 |  | 2858854 | 43700 | SH |  | SOLE |  | 43700 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 274808 | 1188 | SH |  | SOLE |  | 1188 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 359663 | 3626 | SH |  | SOLE |  | 3626 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2116995 | 6413 | SH |  | SOLE |  | 6413 | 0 | 0 |
| VALE S A SPONSORED ADS | ADR | 91912E105 |  | 8615436 | 661200 | SH |  | SOLE |  | 661200 | 0 | 0 |
| VANECK ETF TRUST | VANECK ETF TRUST SEMICONDUCTR ETF | 92189F676 |  | 413069 | 1147 | SH |  | SOLE |  | 1147 | 0 | 0 |
| VANGUARD INSTL INDEX FD | 0-3 MO TREAS BIL | 922040845 |  | 12523643 | 166030 | SH |  | SOLE |  | 166030 | 0 | 0 |
| VANGUARD WORLD FD | CONSUM STP ETF | 92204A207 |  | 5826917 | 27584 | SH |  | SOLE |  | 27584 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 356923 | 1624 | SH |  | SOLE |  | 1624 | 0 | 0 |
| VANGUARD WORLD FD | ENERGY ETF | 92204A306 |  | 19760256 | 156927 | SH |  | SOLE |  | 156927 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 1286944 | 20601 | SH |  | SOLE |  | 20601 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 24053711 | 447427 | SH |  | SOLE |  | 447427 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 16051364 | 191979 | SH |  | SOLE |  | 191979 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE PACIFIC ETF | 922042866 |  | 22848690 | 252751 | SH |  | SOLE |  | 252751 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 242945 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 301257 | 2099 | SH |  | SOLE |  | 2099 | 0 | 0 |
| VANGUARD WORLD FD | MEGA CAP INDEX | 921910873 |  | 699257 | 2784 | SH |  | SOLE |  | 2784 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 798105 | 2750 | SH |  | SOLE |  | 2750 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 18381807 | 29311 | SH |  | SOLE |  | 29311 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 3779282 | 47401 | SH |  | SOLE |  | 47401 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 563361 | 2660 | SH |  | SOLE |  | 2660 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 49322879 | 653802 | SH |  | SOLE |  | 653802 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 471349 | 6248 | SH |  | OTR |  | 0 | 6248 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 57254096 | 170770 | SH |  | SOLE |  | 170770 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 4574576 | 32430 | SH |  | SOLE |  | 32430 | 0 | 0 |
| VANGUARD WORLD FD | UTILITIES ETF | 92204A876 |  | 7514550 | 40610 | SH |  | SOLE |  | 40610 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 202377 | 833 | SH |  | SOLE |  | 833 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 6275254 | 17893 | SH |  | SOLE |  | 17893 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 6062821 | 54419 | SH |  | SOLE |  | 54419 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 310834 | 2790 | SH |  | OTR |  | 0 | 2790 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 1382270 | 11762 | SH |  | SOLE |  | 11762 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 245382 | 2088 | SH |  | OTR |  | 0 | 2088 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 9642359 | 160411 | SH |  | SOLE |  | 160411 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 440967 | 7336 | SH |  | OTR |  | 0 | 7336 | 0 |

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