13F holdings as of 2024-12-31 · vs 2024-09-30 · long US-listed positions only
| # | Holding | Shares | Value | % of 13F | QoQ Δ | |
|---|---|---|---|---|---|---|
| 1 | IAUISHARES GOLD TR | TRIM | 520K | $25.8M | 13.4% | -$596K |
| 2 | VEAVANGUARD TAX-MANAGED FDS | TRIM | 526K | $25.1M | 13.1% | -$16.2M |
| 3 | GUNRFLEXSHARES TR | 528K | $19.2M | 10.0% | -$2.6M | |
| 4 | EWCISHARES INC | 352K | $14.2M | 7.4% | -$429K | |
| 5 | VTIVANGUARD INDEX FDS | TRIM | 39K | $11.2M | 5.9% | -$19.9M |
| 6 | EWZISHARES INC | TRIM | 493K | $11.1M | 5.8% | -$6.6M |
| 7 | VIGVANGUARD SPECIALIZED FUNDS | TRIM | 53K | $10.3M | 5.4% | -$15.3M |
| 8 | ACWIISHARES TR | TRIM | 83K | $9.8M | 5.1% | -$517K |
| 9 | EMLCVANECK ETF TRUST | 316K | $7.3M | 3.8% | -$724K | |
| 10 | IEMGISHARES INC | 127K | $6.6M | 3.5% | -$658K | |
| 11 | VWOVANGUARD INTL EQUITY INDEX F | TRIM | 138K | $6.1M | 3.2% | -$20.4M |
| 12 | GNRSPDR INDEX SHS FDS | 78K | $3.9M | 2.0% | -$613K | |
| 13 | VNQVANGUARD INDEX FDS | 40K | $3.5M | 1.8% | -$330K | |
| 14 | NU HLDGS LTD | 323K | $3.3M | 1.7% | -$1.1M | |
| 15 | AGNCAGNC INVT CORP | 350K | $3.2M | 1.7% | -$438K | |
| 16 | FCXFREEPORT MCMORAN INC | 81K | $3.1M | 1.6% | -$959K | |
| 17 | MELIMERCADOLIBRE INC | 1K | $2.5M | 1.3% | -$525K | |
| 18 | VALEVALE S A | 267K | $2.4M | 1.2% | -$749K | |
| 19 | KOFCOCA-COLA FEMSA SAB DE CV | 25K | $1.9M | 1.0% | -$268K | |
| 20 | ITUBITAU UNIBANCO HLDG S A | 387K | $1.9M | 1.0% | -$653K | |
| 21 | EWUISHARES TR | TRIM | 56K | $1.9M | 1.0% | -$944K |
| 22 | EFVISHARES TR | 36K | $1.9M | 1.0% | -$181K | |
| 23 | PBR/APETROLEO BRASILEIRO S A | 154K | $1.8M | 1.0% | -$208K | |
| 24 | PBRPETROLEO BRASILEIRO S A | 133K | $1.7M | 0.9% | -$206K | |
| 25 | ABEVAMBEV SA | 617K | $1.1M | 0.6% | -$364K | |
| 26 | CNQCANADIAN NAT RES LTD MED TER | 35K | $1.1M | 0.6% | -$83K | |
| 27 | XLESELECT SECTOR SPDR TR | 8K | $685K | 0.4% | -$17K | |
| 28 | VDEVANGUARD WORLD FD | 5K | $643K | 0.3% | -$6K | |
| 29 | NLYANNALY CAPITAL MANAGEMENT IN | 35K | $641K | 0.3% | -$62K | |
| 30 | BSBRBANCO SANTANDER BRASIL S A | 158K | $618K | 0.3% | -$213K | |
| 31 | SUZSUZANO S A | 59K | $595K | 0.3% | +$7K | |
| 32 | AXIACENTRAIS ELET BRAS SA | 100K | $573K | 0.3% | -$151K | |
| 33 | VTVVANGUARD INDEX FDS | 3K | $567K | 0.3% | -$18K | |
| 34 | VIVTELEFONICA BRASIL SA | 72K | $546K | 0.3% | -$197K | |
| 35 | XP INC | 37K | $439K | 0.2% | -$226K | |
| 36 | SBSCOMPANHIA DE SANEAMENTO BASI | 29K | $411K | 0.2% | -$63K | |
| 37 | CVXCHEVRON CORPORATION | 3K | $391K | 0.2% | -$7K | |
| 38 | EMBISHARES TR | 4K | $383K | 0.2% | -$20K | |
| 39 | BBDBANCO BRADESCO S A | 188K | $359K | 0.2% | -$141K | |
| 40 | XOMEXXON MOBIL CORP | 3K | $355K | 0.2% | -$32K | |
| 41 | COPCONOCOPHILLIPS | 3K | $268K | 0.1% | -$16K | |
| 42 | CIGCIA ENERGETICA DE MINAS GERA | 148K | $261K | 0.1% | -$43K | |
| 43 | SCHPSCHWAB STRATEGIC TR | ADD | 10K | $258K | 0.1% | -$10K |
| 44 | GGBGERDAU SA | 86K | $248K | 0.1% | -$53K | |
| 45 | TIMBTIM S A | 20K | $239K | 0.1% | -$111K | |
| 46 | BHPBHP BILLITON LIMITED | 4K | $195K | 0.1% | -$53K | |
| 47 | 10552T107 | 46K | $187K | 0.1% | -$14K | |
| 48 | EWMISHARES INC | 8K | $184K | 0.1% | -$19K | |
| 49 | STONECO LTD | 22K | $176K | 0.1% | -$73K | |
| 50 | VNQIVANGUARD INTL EQUITY INDEX F | 4K | $142K | 0.1% | -$26K | |
| 51 | UGPULTRAPAR PARTICIPACOES SA | 47K | $123K | 0.1% | -$58K | |
| 52 | RIORIO TINTO PLC | 2K | $118K | 0.1% | -$25K | |
| 53 | CSANCOSAN S A | 19K | $104K | 0.1% | -$79K | |
| 54 | SIDCOMPANHIA SIDERURGICA NACION | 56K | $80K | 0.0% | -$53K | |
| 55 | BAKBRASKEM SA | 17K | $67K | 0.0% | -$60K |
Source: SEC Form 13F. Values are as-of 2024-12-31 (quarter-end), not live. Percentages are of reported 13F value, not the fund’s full AUM (13F excludes shorts, cash, bonds, most non-US holdings).