J.Safra Asset Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
INVESCO QQQ TR UNIT SER 1	UNIT SER 1	46090E103	124,380,596	347,170	SH		SOLE		347,170	0	0
ISHARES INC ISHARES MSCI BRAZIL ETF	MSCI BRAZIL ETF	464286400	266,216	8,680	SH		SOLE		8,680	0	0
ISHARES CORE U S AGGREGATE BD ETF	CORE US AGGBD ET	464287226	4,096,759	43,564	SH		SOLE		43,564	0	0
ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF	IBOXX INV CP ETF	464287242	5,141,604	50,398	SH		SOLE		50,398	0	0
ISHARES RUSSELL 1000 GROWTH ETF	RUS 1000 GRW ETF	464287614	20,027,983	75,296	SH		SOLE		75,296	0	0
ISHARES U S TECHNOLOGY ETF	U.S. TECH ETF	464287721	5,026,088	47,904	SH		SOLE		47,904	0	0
ISHARES TRUST ISHARES J P MORGAN USD EMERGING MARKETS BOND ETF	JPMORGAN USD EMG	464288281	7,828,837	94,872	SH		SOLE		94,872	0	0
ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF	IBOXX HI YD ETF	464288513	6,273,351	85,097	SH		SOLE		85,097	0	0
PETROLEO BRASILEIRO SA PETROBRAS SPONSORED ADR	SPONSORED ADR	71654V408	209,815	13,997	SH		SOLE		13,997	0	0
SPDR S&P 500 ETF TRUST	ETF TR UNIT	78462F103	114,823,693	268,606	SH		SOLE		268,606	0	0
SELECT SECTOR SPDR FUND SHS BEN INT MATERIALS	SBI MATERIAL	81369Y100	2,959,057	37,671	SH		SOLE		37,671	0	0
SELECT SECTOR SPDR TRUST THE HEALTH CARE SELECT SECTOR SPDR FUND	SBI HEALTHCARE	81369Y209	58,598,843	455,172	SH		SOLE		455,172	0	0
SECTOR SPDR TRUST SBI CONSUMER STAPLES	SBI CONS STPLS	81369Y308	20,858,306	303,129	SH		SOLE		303,129	0	0
SELECT SECTOR SPDR TRUST SHS BEN INT ENERGY	ENERGY	81369Y506	20,553,692	227,389	SH		SOLE		227,389	0	0
SELECT SECTOR SPDR TRUST THE FINANCIAL SELECT SECTOR SPDR FUND	FINANCIAL	81369Y605	69,386,532	2,091,846	SH		SOLE		2,091,846	0	0
SELECT SECTOR SPDR TRUST THE TECHNOLOGY SELECT SECTOR SPDR FUND	TECHNOLOGY	81369Y803	95,999,047	585,610	SH		SOLE		585,610	0	0
TESLA INC COMMON STOCK	COM	88160R101	4,770,444	19,065	SH		SOLE		19,065	0	0
SPDR S&P DIVIDEND ETF	S&P Divid EFT	78464A763	38,301,090	333,024	SH		SOLE		333,024	0	0
MICROSOFT CORP	COM	594918104	1,154,066	3,655	SH		SOLE		3,655	0	0
ACCENTURE PLC IRELAND SHS CL A	SHS CLASS A	G1151C101	134,821	439	SH		SOLE		439	0	0
ALPHABET INC CLASS A COMMON STOCK	CAP STK CL A	02079K305	511,793	3,911	SH		SOLE		3,911	0	0
AON PLC CLASS A ORDINARY SHARES	SHS CL A	G0403H108	200,368	618	SH		SOLE		618	0	0
ADOBE INC COMMON STOCK	COM	00724F101	91,782	180	SH		SOLE		180	0	0
COSTCO WHOLESALE CORP-NEW	COM	22160K105	172,878	306	SH		SOLE		306	0	0
CHUBB LTD COM	COM	H1467J104	137,399	660	SH		SOLE		660	0	0
CIGNA GROUP (THE) COMMON STOCK	COM	125523100	123,010	430	SH		SOLE		430	0	0
CONOCOPHILLIPS COMMON STOCK	COM	20825C104	187,607	1,566	SH		SOLE		1,566	0	0
DANAHER CORPORATION	COM	235851102	151,093	609	SH		SOLE		609	0	0
EXXON MOBIL CORP	COM	30231G102	226,342	1,925	SH		SOLE		1,925	0	0
EATON CORPORATION PLC	COM	G29183103	301,791	1,415	SH		SOLE		1,415	0	0
HONEYWELL INTL INC	COM	438516106	234,435	1,269	SH		SOLE		1,269	0	0
HOME DEPOT INC	COM	437076102	261,066	864	SH		SOLE		864	0	0
JPMORGAN CHASE & CO	COM	46625H100	327,310	2,257	SH		SOLE		2,257	0	0
JOHNSON & JOHNSON COMMON STOCK	COM	478160104	112,296	721	SH		SOLE		721	0	0
ELI LILLY & CO	COM	532457108	365,786	681	SH		SOLE		681	0	0
MCKESSON CORP	COM	58155Q103	118,714	273	SH		SOLE		273	0	0
MASTERCARD INCORPORATED	COM	57636Q104	180,931	457	SH		SOLE		457	0	0
NVIDIA CORP	COM	67066G104	368,872	848	SH		SOLE		848	0	0
NASDAQ INC COM	COM	631103108	51,603	1,062	SH		SOLE		1,062	0	0
NEXTERA ENERGY INC	COM	65339F101	234,832	4,099	SH		SOLE		4,099	0	0
NORTHROP GRUMMAN CORP	COM	666807102	206,889	470	SH		SOLE		470	0	0
ROCKWELL AUTOMATION INC	COM	773903109	211,544	740	SH		SOLE		740	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	41,408	420	SH		SOLE		420	0	0
TEXAS INSTRUMENTS INCORPORATED	COM	882508104	137,067	862	SH		SOLE		862	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	146,789	290	SH		SOLE		290	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	250,078	496	SH		SOLE		496	0	0
UNION PACIFIC CORP	COM	907818108	150,279	738	SH		SOLE		738	0	0
VISA INC CL A COMMON STOCK	COM	92826C839	217,129	944	SH		SOLE		944	0	0
WALMART INC COMMON STOCK	COM	931142103	134,181	839	SH		SOLE		839	0	0
ZOETIS INC CL A	CL A	98978V103	125,614	722	SH		SOLE		722	0	0
SPDR SER TR S&P BIOTECH ETF	S&P Biotech	78464A870	260,973	3,574	SH		SOLE		3,574	0	0
SPDR SERIES TRUST SPDR BLOOMBERG 1 3 MONTH T BILL ETF	Bloomberg 1-3 Month	78468R663	4,984,908	54,290	SH		SOLE		54,290	0	0
WALT DISNEY CO	COM	254687106	24,558	303	SH		SOLE		303	0	0
AMERICAN TOWER CORPORATION REIT	COM	03027X100	85,021	517	SH		SOLE		517	0	0
CONSTELLATION BRANDS INC CL A	CL A	21036P108	90,227	359	SH		SOLE		359	0	0
PROLOGIS INC	COM	74340W103	103,345	921	SH		SOLE		921	0	0
PEPSICO INC COMMON STOCK	COM	713448108	163,848	967	SH		SOLE		967	0	0
TJX COMPANIES INC NEW	COM	872540109	96,701	1,088	SH		SOLE		1,088	0	0
ALNYLAM PHARMACEUTICALS INC	COM	02043Q107	354	2	SH		SOLE		2	0	0
ABBVIE INC	COM	00287Y109	190,499	1,278	SH		SOLE		1,278	0	0
AGILON HEALTH INC COMMON STOCK	COM	00857U107	3,037	171	SH		SOLE		171	0	0
BLACKROCK INC	COM	09247X101	116,368	180	SH		SOLE		180	0	0
BROADCOM INC COMMON STOCK	COM	11135F101	286,550	345	SH		SOLE		345	0	0
MERCADOLIBRE INC	COM	58733R102	5,072	4	SH		SOLE		4	0	0
MERCK & CO INC	COM	58933Y105	201,885	1,961	SH		SOLE		1,961	0	0
SPDR GOLD TR GOLD SHS	GOLD SHS	78463V107	605,561	3,532	SH		SOLE		3,532	0	0
SELECT SECTOR SPDR TRUST THE COMMUNICATION SERVICES SELECT SECTOR SPDR FUND	COMMUNICATION	81369Y852	46,014,862	701,767	SH		SOLE		701,767	0	0
ILLUMINA INC	COM	452327109	48,597	354	SH		SOLE		354	0	0
CDW CORPORATION COM	COM	12514G108	136,188	675	SH		SOLE		675	0	0
COOPER COMPANIES INC (THE) COMMON STOCK	COM NEW	216648402	65,510	206	SH		SOLE		206	0	0
CHARLES SCHWAB CORP NEW	COM	808513105	100,577	1,832	SH		SOLE		1,832	0	0
APTIV PLC	SHS	G6095L109	82,618	838	SH		SOLE		838	0	0
NIKE INC CLASS B COM	CL B	654106103	74,775	782	SH		SOLE		782	0	0
STERICYCLE INC	COM	858912108	55,709	1,246	SH		SOLE		1,246	0	0
IQVIA HOLDINGS INC COMMON STOCK	COM	46266C105	123,756	629	SH		SOLE		629	0	0
CHEVRON CORPORATION	COM	166764100	176,039	1,044	SH		SOLE		1,044	0	0
ILLINOIS TOOL WORKS INC	COM	452308109	75,081	326	SH		SOLE		326	0	0
LOCKHEED MARTIN CORP	COM	539830109	90,789	222	SH		SOLE		222	0	0
MONDELEZ INTERNATIONAL INC COM	CL A	609207105	172,945	2,492	SH		SOLE		2,492	0	0
MARSH & MCLENNAN COMPANIES INC	COM	571748102	140,822	740	SH		SOLE		740	0	0
MCDONALDS CORP	COM	580135101	116,177	441	SH		SOLE		441	0	0
PHILLIPS 66 COM	COM	718546104	11,054	92	SH		SOLE		92	0	0
PAYCHEX INC	COM	704326107	70,236	609	SH		SOLE		609	0	0
PROCTER & GAMBLE CO	COM	742718109	184,513	1,265	SH		SOLE		1,265	0	0
QUALCOMM INC	COM	747525103	17,992	162	SH		SOLE		162	0	0
SEMPRA COMMON STOCK	COM	816851109	74,833	1,100	SH		SOLE		1,100	0	0
STARBUCKS CORP	COM	855244109	113,996	1,249	SH		SOLE		1,249	0	0
SELECT SECTOR SPDR TRUST THE INDUSTRIAL SELECT SECTOR SPDR FUND	INDL	81369Y704	23,428,715	231,098	SH		SOLE		231,098	0	0
GARTNER INC	COM	366651107	29,894	87	SH		SOLE		87	0	0
ISHARES TRUST ISHARES SHORT TREASURY BOND ETF	SHORT TREAS BD	464288679	15,466	140	SH		SOLE		140	0	0
BRUNSWICK CORP	COM	117043109	26,860	340	SH		SOLE		340	0	0
DISCOVER FINANCIAL SERVICES	COM	254709108	15,247	176	SH		SOLE		176	0	0
STERIS PLC ORDINARY SHARES	SHS USD	G8473T100	14,921	68	SH		SOLE		68	0	0
SCHLUMBERGER LTD	COM STK	806857108	47,864	821	SH		SOLE		821	0	0
MEDPACE HOLDINGS INC COM	COM	58506Q109	13,075	54	SH		SOLE		54	0	0
ENOVA INTERNATIONAL INC	COM	29357K103	25,740	506	SH		SOLE		506	0	0
PAYLOCITY HOLDING CORPORATION COM	COM	70438V106	24,530	135	SH		SOLE		135	0	0
INVESCO EXCHANGE TRADED FUND TRUST INVESCO S&P 500 EQUAL WEIGHT ETF	S&P500 EQL WGT	46137V357	498,182	3,516	SH		SOLE		3,516	0	0
MANCHESTER UNITED PLC CLASS A ORDINARY SHARES	ORD CL A	G5784H106	15,100	763	SH		SOLE		763	0	0
SHIFT4 PAYMENTS INC CLASS A COMMON STOCK	CL A	82452J109	24,307	439	SH		SOLE		439	0	0
TEMPUR SEALY INTERNATIONAL INC	COM	88023U101	24,747	571	SH		SOLE		571	0	0
API GROUP CORPORATION COMMON STOCK	COM STK	00187Y100	24,763	955	SH		SOLE		955	0	0
TOLL BROTHERS INC	COM	889478103	24,037	325	SH		SOLE		325	0	0