| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | UBS Securities LLC | 16,153,032 | 1,441,545 | 119,370,906.48 | 0.0484 | 0.6431 | 06/30/2025 |
| 2 | Morgan Stanley & Co. International Plc | 14,661,971 | 2,742,996 | 108,351,965.69 | 1.0637 | 0.5838 | 06/30/2025 |
| 3 | The Vanguard Group, Inc. | 14,165,514 | -857,036 | 104,683,148.46 | 0.0014 | 0.564 | 06/30/2025 |
| 4 | Aperio Group LLC | 12,862,846 | 1,440,841 | 95,056,431.94 | 0.0746 | 0.5121 | 06/30/2025 |
| 5 | BlackRock Fund Advisors | 11,417,785 | 69,511 | 84,377,431.15 | 0.0018 | 0.4546 | 06/30/2025 |
| 6 | Rafferty Asset Management LLC | 8,403,064 | 2,826,486 | 62,098,642.96 | 0.1721 | 0.3346 | 06/30/2025 |
| 7 | Parametric Portfolio Associates LLC | 6,631,016 | 934,107 | 49,003,208.24 | 0.0131 | 0.264 | 06/30/2025 |
| 8 | Barclays Bank Plc (Private Banking) | 5,248,150 | 1,579,814 | 38,783,828.5 | 0.0202 | 0.209 | 06/30/2025 |
| 9 | Goldman Sachs & Co. LLC (Private Banking) | 5,168,034 | -226,588 | 38,191,771.26 | 0.0152 | 0.2058 | 06/30/2025 |
| 10 | SSgA Funds Management, Inc. | 4,292,954 | 326,243 | 31,724,930.06 | 0.001 | 0.1709 | 06/30/2025 |
| 11 | Schroder Investment Management North America, Inc. | 4,078,402 | 3,942,678 | 30,139,390.78 | 0.0307 | 0.1624 | 06/30/2025 |
| 12 | Citigroup Global Markets, Inc. (Investment Management) | 3,724,924 | -2,302,800 | 27,527,188.36 | 0.0207 | 0.1483 | 06/30/2025 |
| 13 | BofA Securities, Inc. | 3,676,287 | -958,111 | 27,167,760.93 | 0.0458 | 0.1464 | 06/30/2025 |
| 14 | Northern Trust Investments, Inc.(Investment Management) | 3,616,436 | 281,356 | 26,725,462.04 | 0.0037 | 0.144 | 06/30/2025 |
| 15 | Maple Rock Capital Partners, Inc. | 3,140,443 | 3,140,443 | 23,207,873.77 | 0.8055 | 0.125 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | iShares Semiconductor ETF | 10,693,877 | -654,397 | 79,027,751.03 | 0.4695 | 0.4258 | 09/30/2025 |
| 2 | Vanguard Emerging Markets Stock Index Fund | 6,294,441 | -472,827 | 46,515,918.99 | 0.0316 | 0.2506 | 09/30/2025 |
| 3 | Direxion Daily Semiconductor Bull 3X Shares | 6,220,701 | 644,123 | 45,970,980.39 | 0.5515 | 0.2477 | 09/30/2025 |
| 4 | Vanguard Global Minimum Volatility Fund | 4,444,799 | -918,290 | 32,847,064.61 | 1.4987 | 0.177 | 07/31/2025 |
| 5 | SPDR Portfolio Emerging Markets ETF | 3,999,025 | 573,006 | 29,552,794.75 | 0.198 | 0.1592 | 09/30/2025 |
| 6 | Vanguard FTSE All World (ex-US) Index Fund | 2,152,554 | -130,472 | 15,907,374.06 | 0.0205 | 0.0857 | 09/30/2025 |
| 7 | Schroder AsiaPacific Fund Plc | 1,441,848 | 0 | 10,655,256.72 | 0.7539 | 0.0574 | 03/31/2025 |
| 8 | Debeka-Aktien-Asien-ESG | 1,399,100 | 0 | 10,339,349 | 0.6158 | 0.0557 | 07/31/2025 |
| 9 | Freedom 100 Emerging Markets ETF | 1,313,983 | 293,539 | 9,710,334.37 | 0.6187 | 0.0523 | 09/30/2025 |
| 10 | Vanguard Total International Stock Index Fund | 891,721 | -114,294 | 6,589,818.19 | 0.0012 | 0.0355 | 09/30/2025 |
| 11 | BetaShares Asia Technology Tigers ETF | 740,184 | 84,210 | 5,469,959.76 | 0.8703 | 0.0295 | 09/30/2025 |
| 12 | Dimensional Emerging Core Equity Market ETF | 567,400 | 224,400 | 4,193,086 | 0.058 | 0.0226 | 09/30/2025 |
| 13 | Dimensional Emerging Markets Core Equity 2 ETF | 500,872 | 312,872 | 3,701,444.08 | 0.0565 | 0.0199 | 09/30/2025 |
| 14 | Vanguard Institutional Total Intl. Stock Market Index Trust | 468,997 | 0 | 3,465,887.83 | 0.008 | 0.0187 | 08/31/2025 |
| 15 | BAUM Fair Future Fonds | 370,000 | 0 | 2,734,300 | 1.4994 | 0.0147 | 07/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Schroder Investment Management North America, Inc. | 4,078,402 | 3,942,678 | 30,139,390.78 | 0.0307 | 0.1624 | 06/30/2025 |
| 2 | Maple Rock Capital Partners, Inc. | 3,140,443 | 3,140,443 | 23,207,873.77 | 0.8055 | 0.125 | 06/30/2025 |
| 3 | Rafferty Asset Management LLC | 8,403,064 | 2,826,486 | 62,098,642.96 | 0.1721 | 0.3346 | 06/30/2025 |
| 4 | Morgan Stanley & Co. International Plc | 14,661,971 | 2,742,996 | 108,351,965.69 | 1.0637 | 0.5838 | 06/30/2025 |
| 5 | Barclays Bank Plc (Private Banking) | 5,248,150 | 1,579,814 | 38,783,828.5 | 0.0202 | 0.209 | 06/30/2025 |
| 6 | UBS Securities LLC | 16,153,032 | 1,441,545 | 119,370,906.48 | 0.0484 | 0.6431 | 06/30/2025 |
| 7 | Aperio Group LLC | 12,862,846 | 1,440,841 | 95,056,431.94 | 0.0746 | 0.5121 | 06/30/2025 |
| 8 | Parametric Portfolio Associates LLC | 6,631,016 | 934,107 | 49,003,208.24 | 0.0131 | 0.264 | 06/30/2025 |
| 9 | Citadel Securities LLC | 581,999 | 572,177 | 4,300,972.61 | 0.0127 | 0.0232 | 06/30/2025 |
| 10 | Y-Intercept (Hong Kong) Ltd. | 970,407 | 444,106 | 7,171,307.73 | 0.1586 | 0.0386 | 06/30/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Millennium Management LLC | 58,780 | -7,834,768 | 434,384.2 | 0.0004 | 0.0023 | 06/30/2025 |
| 2 | Schroder Investment Management Ltd. | 0 | -4,164,459 | 0 | 0 | 0 | |
| 3 | Citadel Advisors LLC | 10,880 | -2,583,316 | 80,403.2 | 0.0001 | 0.0004 | 06/30/2025 |
| 4 | Citigroup Global Markets, Inc. (Investment Management) | 3,724,924 | -2,302,800 | 27,527,188.36 | 0.0207 | 0.1483 | 06/30/2025 |
| 5 | Nomura Global Financial Products, Inc. | 0 | -1,536,660 | 0 | 0 | 0 | |
| 6 | LMR Partners LLP | 0 | -1,000,000 | 0 | 0 | 0 | |
| 7 | BofA Securities, Inc. | 3,676,287 | -958,111 | 27,167,760.93 | 0.0458 | 0.1464 | 06/30/2025 |
| 8 | Two Sigma Investments LP | 378,628 | -905,816 | 2,798,060.92 | 0.0047 | 0.0151 | 06/30/2025 |
| 9 | The Vanguard Group, Inc. | 14,165,514 | -857,036 | 104,683,148.46 | 0.0014 | 0.564 | 06/30/2025 |
| 10 | Marshall Wace LLP | 0 | -662,824 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.