Kapitalo Investimentos Ltda 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

OMB APPROVAL

OMB Number:		3235-0006
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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
APPLE INC	COM	037833100	562,573	2,922	SH		SOLE		0	0	2,922
AMBEV SA	SPONSORED ADR	02319V103	15,610	5,575	SH		SOLE		0	0	5,575
ASBURY AUTOMOTIVE GROUP INC	COM	043436104	161,528	718	SH		SOLE		0	0	718
ABBOTT LABS	COM	002824100	21,794	198	SH		SOLE		0	0	198
ACADIA PHARMACEUTICALS INC	COM	004225108	181,473	5,796	SH		SOLE		0	0	5,796
ACADIA HEALTHCARE COMPANY IN	COM	00404A109	84,214	1,083	SH		SOLE		0	0	1,083
ALBERTSONS COS INC	COMMON STOCK	013091103	6,849,009	297,783	SH		SOLE		0	0	297,783
AXCELIS TECHNOLOGIES INC	COM NEW	054540208	77,944	601	SH		SOLE		0	0	601
ENACT HLDGS INC	COM	29249E109	626,711	21,693	SH		SOLE		0	0	21,693
ADOBE INC	COM	00724F101	524,411	879	SH		SOLE		0	0	879
ARCHER DANIELS MIDLAND CO	COM	039483102	86,375	1,196	SH		SOLE		0	0	1,196
AUTODESK INC	COM	052769106	73,774	303	SH		SOLE		0	0	303
AMERICAN EQTY INVT LIFE HLD	COM	025676206	231,012	4,140	SH		SOLE		0	0	4,140
AMERICAN FINL GROUP INC OHIO	COM	025932104	56,116	472	SH		SOLE		0	0	472
AFLAC INC	COM	001055102	249,893	3,029	SH		SOLE		0	0	3,029
AGCO CORP	COM	001084102	242,820	2,000	SH		SOLE		0	0	2,000
AMERICAN INTL GROUP INC	COM NEW	026874784	109,145	1,611	SH		SOLE		0	0	1,611
APPLIED INDL TECHNOLOGIES IN	COM	03820C105	493,893	2,860	SH		SOLE		0	0	2,860
ASSURANT INC	COM	04621X108	163,435	970	SH		SOLE		0	0	970
GALLAGHER ARTHUR J & CO	COM	363576109	307,861	1,369	SH		SOLE		0	0	1,369
AKAMAI TECHNOLOGIES INC	COM	00971T101	171,252	1,447	SH		SOLE		0	0	1,447
ALBEMARLE CORP	COM	012653101	148,814	1,030	SH		SOLE		0	0	1,030
ALLEGRO MICROSYSTEMS INC	COM	01749D105	34,326	1,134	SH		SOLE		0	0	1,134
ALLSTATE CORP	COM	020002101	71,810	513	SH		SOLE		0	0	513
ALLISON TRANSMISSION HLDGS I	COM	01973R101	99,844	1,717	SH		SOLE		0	0	1,717
ALTAIR ENGR INC	COM CL A	021369103	220,305	2,618	SH		SOLE		0	0	2,618
AUTOLIV INC	COM	052800109	480,649	4,362	SH		SOLE		0	0	4,362
ANTERO MIDSTREAM CORP	COM	03676B102	263,844	21,057	SH		SOLE		0	0	21,057
APPLIED MATLS INC	COM	038222105	532,400	3,285	SH		SOLE		0	0	3,285
AFFILIATED MANAGERS GROUP IN	COM	008252108	69,048	456	SH		SOLE		0	0	456
AMGEN INC	COM	031162100	553,286	1,921	SH		SOLE		0	0	1,921
AMERICAN HOMES 4 RENT	CL A	02665T306	496,608	13,810	SH		SOLE		0	0	13,810
AMERIPRISE FINL INC	COM	03076C106	1,519	4	SH		SOLE		0	0	4
ALPHA METALLURGICAL RESOUR I	COM	020764106	518,548	1,530	SH		SOLE		0	0	1,530
AMAZON COM INC	COM	023135106	293,244	1,930	SH		SOLE		0	0	1,930
AUTONATION INC	COM	05329W102	275,580	1,835	SH		SOLE		0	0	1,835
ARISTA NETWORKS INC	COM	040413106	34,855	148	SH		SOLE		0	0	148
ABERCROMBIE & FITCH CO	CL A	002896207	304,271	3,449	SH		SOLE		0	0	3,449
SMITH A O CORP	COM	831865209	99,010	1,201	SH		SOLE		0	0	1,201
AMPHENOL CORP NEW	CL A	032095101	151,372	1,527	SH		SOLE		0	0	1,527
APOLLO GLOBAL MGMT INC	COM	03769M106	10,437	112	SH		SOLE		0	0	112
APPLOVIN CORP	COM CL A	03831W108	338,566	8,496	SH		SOLE		0	0	8,496
APPFOLIO INC	COM CL A	03783C100	342,669	1,978	SH		SOLE		0	0	1,978
ALTSHARES TRUST	MERGER ARBITRAGE	02210T108	5,466,282	204,347	SH		SOLE		0	0	204,347
ARES CAPITAL CORP	COM	04010L103	498,406	24,883	SH		SOLE		0	0	24,883
ARES MANAGEMENT CORPORATION	CL A COM STK	03990B101	3,687	31	SH		SOLE		0	0	31
ARROW ELECTRS INC	COM	042735100	187,287	1,532	SH		SOLE		0	0	1,532
ASGN INC	COM	00191U102	257,255	2,675	SH		SOLE		0	0	2,675
ACADEMY SPORTS & OUTDOORS IN	COM	00402L107	72,996	1,106	SH		SOLE		0	0	1,106
ATKORE INC	COM	047649108	150,080	938	SH		SOLE		0	0	938
ATMOS ENERGY CORP	COM	049560105	185,556	1,601	SH		SOLE		0	0	1,601
APTARGROUP INC	COM	038336103	312,882	2,531	SH		SOLE		0	0	2,531
AVALONBAY CMNTYS INC	COM	053484101	116,076	620	SH		SOLE		0	0	620
BROADCOM INC	COM	11135F101	909,744	815	SH		SOLE		0	0	815
AVNET INC	COM	053807103	323,518	6,419	SH		SOLE		0	0	6,419
AMERICAN EXPRESS CO	COM	025816109	2,623	14	SH		SOLE		0	0	14
AXALTA COATING SYS LTD	COM	G0750C108	88,016	2,591	SH		SOLE		0	0	2,591
ACUITY BRANDS INC	COM	00508Y102	285,943	1,396	SH		SOLE		0	0	1,396
AUTOZONE INC	COM	053332102	320,616	124	SH		SOLE		0	0	124
BOOZ ALLEN HAMILTON HLDG COR	CL A	099502106	357,381	2,794	SH		SOLE		0	0	2,794
BEST BUY INC	COM	086516101	80,159	1,024	SH		SOLE		0	0	1,024
BOISE CASCADE CO DEL	COM	09739D100	737,481	5,701	SH		SOLE		0	0	5,701
BEACON ROOFING SUPPLY INC	COM	073685109	306,223	3,519	SH		SOLE		0	0	3,519
BILL HOLDINGS INC	COM	090043100	761,479	9,333	SH		SOLE		0	0	9,333
BJS WHSL CLUB HLDGS INC	COM	05550J101	646,269	9,695	SH		SOLE		0	0	9,695
BOOKING HOLDINGS INC	COM	09857L108	134,794	38	SH		SOLE		0	0	38
TOPBUILD CORP	COM	89055F103	55,765	149	SH		SOLE		0	0	149
BUILDERS FIRSTSOURCE INC	COM	12008R107	301,994	1,809	SH		SOLE		0	0	1,809
BRISTOL-MYERS SQUIBB CO	COM	110122108	294,365	5,737	SH		SOLE		0	0	5,737
BRF SA	SPONSORED ADR	10552T107	15,953,239	5,738,575	SH		SOLE		0	0	5,738,575
BROWN & BROWN INC	COM	115236101	149,758	2,106	SH		SOLE		0	0	2,106
BRIXMOR PPTY GROUP INC	COM	11120U105	171,989	7,391	SH		SOLE		0	0	7,391
BOSTON SCIENTIFIC CORP	COM	101137107	138,628	2,398	SH		SOLE		0	0	2,398
BENTLEY SYS INC	COM CL B	08265T208	248,742	4,767	SH		SOLE		0	0	4,767
BWX TECHNOLOGIES INC	COM	05605H100	117,704	1,534	SH		SOLE		0	0	1,534
CACI INTL INC	CL A	127190304	495,182	1,529	SH		SOLE		0	0	1,529
CONAGRA BRANDS INC	COM	205887102	19,088	666	SH		SOLE		0	0	666
CARDINAL HEALTH INC	COM	14149Y108	851,558	8,448	SH		SOLE		0	0	8,448
MAPLEBEAR INC	COM	565394103	69,330	2,954	SH		SOLE		0	0	2,954
CASEYS GEN STORES INC	COM	147528103	902,796	3,286	SH		SOLE		0	0	3,286
COMPANHIA BRASILEIRA DE DIST	SPONSORED ADR	20440T300	16,403	20,504	SH		SOLE		0	0	20,504
CBOE GLOBAL MKTS INC	COM	12503M108	548,001	3,069	SH		SOLE		0	0	3,069
COMMERCE BANCSHARES INC	COM	200525103	2,777	52	SH		SOLE		0	0	52
CABOT CORP	COM	127055101	556,945	6,670	SH		SOLE		0	0	6,670
CADENCE DESIGN SYSTEM INC	COM	127387108	345,093	1,267	SH		SOLE		0	0	1,267
CDW CORP	COM	12514G108	515,334	2,267	SH		SOLE		0	0	2,267
CONSTELLATION ENERGY CORP	COM	21037T109	636,934	5,449	SH		SOLE		0	0	5,449
CELSIUS HLDGS INC	COM NEW	15118V207	167,485	3,072	SH		SOLE		0	0	3,072
CEREVEL THERAPEUTICS HLDNG I	COM	15678U128	7,632,000	180,000	SH		SOLE		0	0	180,000
CF INDS HLDGS INC	COM	125269100	910,991	11,459	SH		SOLE		0	0	11,459
CHEMED CORP NEW	COM	16359R103	498,792	853	SH		SOLE		0	0	853
CHOICE HOTELS INTL INC	COM	169905106	106,389	939	SH		SOLE		0	0	939
CHORD ENERGY CORPORATION	COM NEW	674215207	632,838	3,807	SH		SOLE		0	0	3,807
CHEWY INC	CL A	16679L109	136,463	5,775	SH		SOLE		0	0	5,775
THE CIGNA GROUP	COM	125523100	335,983	1,122	SH		SOLE		0	0	1,122
CIENA CORP	COM NEW	171779309	29,977	666	SH		SOLE		0	0	666
CIA ENERGETICA DE MINAS GERA	SP ADR N-V PFD	204409601	625,430	269,582	SH		SOLE		0	0	269,582
CLEVELAND-CLIFFS INC NEW	COM	185899101	310,568	15,209	SH		SOLE		0	0	15,209
CLEAN HARBORS INC	COM	184496107	237,159	1,359	SH		SOLE		0	0	1,359
COMMERCIAL METALS CO	COM	201723103	131,305	2,624	SH		SOLE		0	0	2,624
COMCAST CORP NEW	CL A	20030N101	595,395	13,578	SH		SOLE		0	0	13,578
CME GROUP INC	COM	12572Q105	427,307	2,029	SH		SOLE		0	0	2,029
CHIPOTLE MEXICAN GRILL INC	COM	169656105	203,539	89	SH		SOLE		0	0	89
CUMMINS INC	COM	231021106	93,672	391	SH		SOLE		0	0	391
CNA FINL CORP	COM	126117100	64,015	1,513	SH		SOLE		0	0	1,513
CENTENE CORP DEL	COM	15135B101	667,742	8,998	SH		SOLE		0	0	8,998
CORE & MAIN INC	CL A	21874C102	377,268	9,336	SH		SOLE		0	0	9,336
CENTERPOINT ENERGY INC	COM	15189T107	360,696	12,625	SH		SOLE		0	0	12,625
CONCENTRIX CORP	COM	20602D101	12,374	126	SH		SOLE		0	0	126
CAPITAL ONE FINL CORP	COM	14040H105	2,491	19	SH		SOLE		0	0	19
COCA COLA CONS INC	COM	191098102	713,011	768	SH		SOLE		0	0	768
COLUMBIA SPORTSWEAR CO	COM	198516106	293,821	3,694	SH		SOLE		0	0	3,694
COOPER COS INC	COM NEW	216648402	20,057	212	SH		SOLE		0	0	212
MR COOPER GROUP INC	COM	62482R107	306,129	4,701	SH		SOLE		0	0	4,701
CONOCOPHILLIPS	COM	20825C104	254,542	2,193	SH		SOLE		0	0	2,193
CENCORA INC	COM	03073E105	644,072	3,136	SH		SOLE		0	0	3,136
CAMPBELL SOUP CO	COM	134429109	240,748	5,569	SH		SOLE		0	0	5,569
CAPRI HOLDINGS LIMITED	SHS	G1890L107	11,856,791	236,003	SH		SOLE		0	0	236,003
COPART INC	COM	217204106	326,634	6,666	SH		SOLE		0	0	6,666
COREBRIDGE FINL INC	COM	21871X109	585	27	SH		SOLE		0	0	27
SALESFORCE INC	COM	79466L302	50,786	193	SH		SOLE		0	0	193
CIRRUS LOGIC INC	COM	172755100	168,293	2,023	SH		SOLE		0	0	2,023
COSAN S A	ADS	22113B103	635,044	40,552	SH		SOLE		0	0	40,552
CISCO SYS INC	COM	17275R102	609,271	12,060	SH		SOLE		0	0	12,060
CARLISLE COS INC	COM	142339100	10,935	35	SH		SOLE		0	0	35
CINTAS CORP	COM	172908105	157,294	261	SH		SOLE		0	0	261
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	293,359	3,884	SH		SOLE		0	0	3,884
CVS HEALTH CORP	COM	126650100	36,006	456	SH		SOLE		0	0	456
CURTISS WRIGHT CORP	COM	231561101	522,665	2,346	SH		SOLE		0	0	2,346
CLEARWATER ANALYTICS HLDGS I	CL A	185123106	211,357	10,552	SH		SOLE		0	0	10,552
DOORDASH INC	CL A	25809K105	63,883	646	SH		SOLE		0	0	646
DROPBOX INC	CL A	26210C104	387,456	13,143	SH		SOLE		0	0	13,143
DUPONT DE NEMOURS INC	COM	26614N102	116,010	1,508	SH		SOLE		0	0	1,508
DILLARDS INC	CL A	254067101	258,336	640	SH		SOLE		0	0	640
DEERE & CO	COM	244199105	27,591	69	SH		SOLE		0	0	69
DECKERS OUTDOOR CORP	COM	243537107	277,398	415	SH		SOLE		0	0	415
DELL TECHNOLOGIES INC	CL C	24703L202	452,268	5,912	SH		SOLE		0	0	5,912
DIAGEO P L C	SPON ADR NEW	25243Q205	8,105,979	55,650	SH		SOLE		0	0	55,650
DOLLAR GEN CORP NEW	COM	256677105	2,991	22	SH		SOLE		0	0	22
QUEST DIAGNOSTICS INC	COM	74834L100	439,424	3,187	SH		SOLE		0	0	3,187
D R HORTON INC	COM	23331A109	287,394	1,891	SH		SOLE		0	0	1,891
HF SINCLAIR CORP	COM	403949100	1,050,551	18,905	SH		SOLE		0	0	18,905
DISNEY WALT CO	COM	254687106	165,050	1,828	SH		SOLE		0	0	1,828
DRAFTKINGS INC NEW	COM CL A	26142V105	248,090	7,038	SH		SOLE		0	0	7,038
DOLBY LABORATORIES INC	COM CL A	25659T107	462,700	5,369	SH		SOLE		0	0	5,369
DIGITAL RLTY TR INC	COM	253868103	376,151	2,795	SH		SOLE		0	0	2,795
DOXIMITY INC	CL A	26622P107	55,772	1,989	SH		SOLE		0	0	1,989
DOCUSIGN INC	COM	256163106	145,890	2,454	SH		SOLE		0	0	2,454
DOW INC	COM	260557103	320,649	5,847	SH		SOLE		0	0	5,847
DT MIDSTREAM INC	COMMON STOCK	23345M107	116,286	2,122	SH		SOLE		0	0	2,122
DUKE ENERGY CORP NEW	COM NEW	26441C204	353,905	3,647	SH		SOLE		0	0	3,647
DUOLINGO INC	CL A COM	26603R106	105,712	466	SH		SOLE		0	0	466
DXC TECHNOLOGY CO	COM	23355L106	20,789	909	SH		SOLE		0	0	909
ELECTRONIC ARTS INC	COM	285512109	57,187	418	SH		SOLE		0	0	418
EBAY INC.	COM	278642103	69,225	1,587	SH		SOLE		0	0	1,587
ECOLAB INC	COM	278865100	149,754	755	SH		SOLE		0	0	755
CONSOLIDATED EDISON INC	COM	209115104	909,609	9,999	SH		SOLE		0	0	9,999
ENDEAVOR GROUP HLDGS INC	CL A COM	29260Y109	311,694	13,135	SH		SOLE		0	0	13,135
ISHARES TR	MSCI EMG MKT ETF	464287234	2,056,540	51,145	SH		SOLE		0	0	51,145
ENCOMPASS HEALTH CORP	COM	29261A100	132,973	1,993	SH		SOLE		0	0	1,993
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	432,622	6,133	SH		SOLE		0	0	6,133
ELEVANCE HEALTH INC	COM	036752103	609,727	1,293	SH		SOLE		0	0	1,293
EMCOR GROUP INC	COM	29084Q100	442,924	2,056	SH		SOLE		0	0	2,056
EMERSON ELEC CO	COM	291011104	225,514	2,317	SH		SOLE		0	0	2,317
ENSIGN GROUP INC	COM	29358P101	163,714	1,459	SH		SOLE		0	0	1,459
EOG RES INC	COM	26875P101	247,222	2,044	SH		SOLE		0	0	2,044
EQUINIX INC	COM	29444U700	253,698	315	SH		SOLE		0	0	315
EMBRAER S. A.	SPONSORED ADS	29082A107	1,878,542	101,818	SH		SOLE		0	0	101,818
ERO COPPER CORP	COM	296006109	5,763,350	365,000	SH		SOLE		0	0	365,000
ESAB CORPORATION	COM	29605J106	110,441	1,275	SH		SOLE		0	0	1,275
EATON CORP PLC	SHS	G29183103	81,879	340	SH		SOLE		0	0	340
ENTERGY CORP NEW	COM	29364G103	428,641	4,236	SH		SOLE		0	0	4,236
EVE HLDG INC	COM	29970N104	3,660,000	500,000	SH		SOLE		0	0	500,000
EVERCORE INC	CLASS A	29977A105	192,602	1,126	SH		SOLE		0	0	1,126
EAST WEST BANCORP INC	COM	27579R104	29,284	407	SH		SOLE		0	0	407
ISHARES INC	MSCI NETHERL ETF	464286814	3,954,754	88,612	SH		SOLE		0	0	88,612
EXELIXIS INC	COM	30161Q104	457,201	19,058	SH		SOLE		0	0	19,058
EXPEDIA GROUP INC	COM NEW	30212P303	157,254	1,036	SH		SOLE		0	0	1,036
DIAMONDBACK ENERGY INC	COM	25278X109	680,801	4,390	SH		SOLE		0	0	4,390
FIRSTCASH HOLDINGS INC	COM	33768G107	484,287	4,468	SH		SOLE		0	0	4,468
FTI CONSULTING INC	COM	302941109	184,214	925	SH		SOLE		0	0	925
FIRST CTZNS BANCSHARES INC N	CL A	31946M103	185,885	131	SH		SOLE		0	0	131
FREEPORT-MCMORAN INC	CL B	35671D857	4,715,181	110,763	SH		SOLE		0	0	110,763
FACTSET RESH SYS INC	COM	303075105	166,968	350	SH		SOLE		0	0	350
FEDEX CORP	COM	31428X106	77,156	305	SH		SOLE		0	0	305
FIRSTENERGY CORP	COM	337932107	221,353	6,038	SH		SOLE		0	0	6,038
FRANKLIN ELEC INC	COM	353514102	86,308	893	SH		SOLE		0	0	893
F5 INC	COM	315616102	288,695	1,613	SH		SOLE		0	0	1,613
FIRST HORIZON CORPORATION	COM	320517105	3,512	248	SH		SOLE		0	0	248
FISERV INC	COM	337738108	116,501	877	SH		SOLE		0	0	877
FAIR ISAAC CORP	COM	303250104	336,399	289	SH		SOLE		0	0	289
FIDELITY NATL INFORMATION SV	COM	31620M106	68,300	1,137	SH		SOLE		0	0	1,137
COMFORT SYS USA INC	COM	199908104	265,726	1,292	SH		SOLE		0	0	1,292
FLOWERS FOODS INC	COM	343498101	394,938	17,545	SH		SOLE		0	0	17,545
FOX CORP	CL A COM	35137L105	622,536	20,982	SH		SOLE		0	0	20,982
FEDERAL RLTY INVT TR NEW	SH BEN INT NEW	313745101	216,405	2,100	SH		SOLE		0	0	2,100
FEDERAL SIGNAL CORP	COM	313855108	232,676	3,032	SH		SOLE		0	0	3,032
FTAI AVIATION LTD	SHS	G3730V105	108,762	2,344	SH		SOLE		0	0	2,344
ISHARES TR	CHINA LG-CAP ETF	464287184	68,049,668	2,831,863	SH		SOLE		0	0	2,831,863
GATX CORP	COM	361448103	120	1	SH		SOLE		0	0	1
GENERAL DYNAMICS CORP	COM	369550108	157,100	605	SH		SOLE		0	0	605
GODADDY INC	CL A	380237107	70,066	660	SH		SOLE		0	0	660
GENERAL ELECTRIC CO	COM NEW	369604301	32,163	252	SH		SOLE		0	0	252
GILEAD SCIENCES INC	COM	375558103	249,268	3,077	SH		SOLE		0	0	3,077
GENERAL MLS INC	COM	370334104	361,006	5,542	SH		SOLE		0	0	5,542
GLOBE LIFE INC	COM	37959E102	71,084	584	SH		SOLE		0	0	584
GAMING & LEISURE PPTYS INC	COM	36467J108	63,662	1,290	SH		SOLE		0	0	1,290
GENTEX CORP	COM	371901109	111,730	3,421	SH		SOLE		0	0	3,421
ALPHABET INC	CAP STK CL A	02079K305	1,436,572	10,284	SH		SOLE		0	0	10,284
GENUINE PARTS CO	COM	372460105	96,950	700	SH		SOLE		0	0	700
GRAPHIC PACKAGING HLDG CO	COM	388689101	290,870	11,800	SH		SOLE		0	0	11,800
GAP INC	COM	364760108	206,821	9,891	SH		SOLE		0	0	9,891
GOLDMAN SACHS GROUP INC	COM	38141G104	6,172	16	SH		SOLE		0	0	16
GOODYEAR TIRE & RUBR CO	COM	382550101	71,686	5,006	SH		SOLE		0	0	5,006
GUIDEWIRE SOFTWARE INC	COM	40171V100	204,123	1,872	SH		SOLE		0	0	1,872
GRAINGER W W INC	COM	384802104	217,117	262	SH		SOLE		0	0	262
HAEMONETICS CORP MASS	COM	405024100	310,914	3,636	SH		SOLE		0	0	3,636
HALOZYME THERAPEUTICS INC	COM	40637H109	132,797	3,593	SH		SOLE		0	0	3,593
HARTFORD FINL SVCS GROUP INC	COM	416515104	83,836	1,043	SH		SOLE		0	0	1,043
HUNTINGTON INGALLS INDS INC	COM	446413106	96,326	371	SH		SOLE		0	0	371
HOULIHAN LOKEY INC	CL A	441593100	8,394	70	SH		SOLE		0	0	70
HAMILTON LANE INC	CL A	407497106	148,153	1,306	SH		SOLE		0	0	1,306
HILTON WORLDWIDE HLDGS INC	COM	43300A203	193,380	1,062	SH		SOLE		0	0	1,062
HOLOGIC INC	COM	436440101	218,780	3,062	SH		SOLE		0	0	3,062
HOME BANCSHARES INC	COM	436893200	20,872	824	SH		SOLE		0	0	824
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	90,045	5,303	SH		SOLE		0	0	5,303
HP INC	COM	40434L105	25,125	835	SH		SOLE		0	0	835
HEALTHEQUITY INC	COM	42226A107	146,788	2,214	SH		SOLE		0	0	2,214
BLOCK H & R INC	COM	093671105	658,412	13,612	SH		SOLE		0	0	13,612
HENRY SCHEIN INC	COM	806407102	211,307	2,791	SH		SOLE		0	0	2,791
HOST HOTELS & RESORTS INC	COM	44107P104	293,685	15,084	SH		SOLE		0	0	15,084
HERSHEY CO	COM	427866108	182,711	980	SH		SOLE		0	0	980
HUMANA INC	COM	444859102	492,146	1,075	SH		SOLE		0	0	1,075
HUNTSMAN CORP	COM	447011107	41,188	1,639	SH		SOLE		0	0	1,639
HOWMET AEROSPACE INC	COM	443201108	127,507	2,356	SH		SOLE		0	0	2,356
VANECK ETF TRUST	EMERGING MKTS HI	92189F353	2,781,757	150,284	SH		SOLE		0	0	150,284
ISHARES TR	IBOXX HI YD ETF	464288513	14,728,091	190,310	SH		SOLE		0	0	190,310
INTERACTIVE BROKERS GROUP IN	COM CL A	45841N107	39,792	480	SH		SOLE		0	0	480
INTERNATIONAL BUSINESS MACHS	COM	459200101	237,475	1,452	SH		SOLE		0	0	1,452
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	12,458	97	SH		SOLE		0	0	97
IDACORP INC	COM	451107106	53,683	546	SH		SOLE		0	0	546
IMMUNOGEN INC	COM	45253H101	932,107	31,437	SH		SOLE		0	0	31,437
INCYTE CORP	COM	45337C102	321,422	5,119	SH		SOLE		0	0	5,119
INGREDION INC	COM	457187102	874,426	8,057	SH		SOLE		0	0	8,057
INTEL CORP	COM	458140100	14,824	295	SH		SOLE		0	0	295
INTUIT	COM	461202103	141,257	226	SH		SOLE		0	0	226
INVITATION HOMES INC	COM	46187W107	432,276	12,673	SH		SOLE		0	0	12,673
IONIS PHARMACEUTICALS INC	COM	462222100	289,071	5,714	SH		SOLE		0	0	5,714
INTERNATIONAL PAPER CO	COM	460146103	191,270	5,291	SH		SOLE		0	0	5,291
INGERSOLL RAND INC	COM	45687V106	28,461	368	SH		SOLE		0	0	368
IRON MTN INC NEW	COM	46284V101	96,782	1,383	SH		SOLE		0	0	1,383
GARTNER INC	COM	366651107	350,964	778	SH		SOLE		0	0	778
INTRA-CELLULAR THERAPIES INC	COM	46116X101	26,356	368	SH		SOLE		0	0	368
ITT INC	COM	45073V108	100,467	842	SH		SOLE		0	0	842
INVESCO LTD	SHS	G491BT108	98,388	5,515	SH		SOLE		0	0	5,515
JACOBS SOLUTIONS INC	COM	46982L108	190,417	1,467	SH		SOLE		0	0	1,467
JABIL INC	COM	466313103	318,627	2,501	SH		SOLE		0	0	2,501
JOHNSON & JOHNSON	COM	478160104	308,778	1,970	SH		SOLE		0	0	1,970
JUNIPER NETWORKS INC	COM	48203R104	80,009	2,714	SH		SOLE		0	0	2,714
JPMORGAN CHASE & CO	COM	46625H100	66,509	391	SH		SOLE		0	0	391
JACKSON FINANCIAL INC	COM CL A	46817M107	56,576	1,105	SH		SOLE		0	0	1,105
KELLANOVA	COM	487836108	85,654	1,532	SH		SOLE		0	0	1,532
KB HOME	COM	48666K109	253,338	4,056	SH		SOLE		0	0	4,056
KYNDRYL HLDGS INC	COMMON STOCK	50155Q100	207,405	9,981	SH		SOLE		0	0	9,981
KEURIG DR PEPPER INC	COM	49271V100	445,422	13,368	SH		SOLE		0	0	13,368
KIRBY CORP	COM	497266106	165,122	2,104	SH		SOLE		0	0	2,104
KLA CORP	COM NEW	482480100	440,044	757	SH		SOLE		0	0	757
WK KELLOGG CO	COM SHS	92942W107	39,183	2,982	SH		SOLE		0	0	2,982
KIMBERLY-CLARK CORP	COM	494368103	83,113	684	SH		SOLE		0	0	684
KINSALE CAP GROUP INC	COM	49714P108	4,019	12	SH		SOLE		0	0	12
KROGER CO	COM	501044101	680,256	14,882	SH		SOLE		0	0	14,882
KRANESHARES TR	CSI CHI INTERNET	500767306	12,433,500	460,500	SH		SOLE		0	0	460,500
LOEWS CORP	COM	540424108	271,262	3,898	SH		SOLE		0	0	3,898
LITHIA MTRS INC	COM	536797103	66,844	203	SH		SOLE		0	0	203
LAMAR ADVERTISING CO NEW	CL A	512816109	334,251	3,145	SH		SOLE		0	0	3,145
LEIDOS HOLDINGS INC	COM	525327102	54,986	508	SH		SOLE		0	0	508
LEAR CORP	COM NEW	521865204	74,700	529	SH		SOLE		0	0	529
LENNAR CORP	CL A	526057104	126,386	848	SH		SOLE		0	0	848
LEVI STRAUSS & CO NEW	CL A COM STK	52736R102	507,927	30,709	SH		SOLE		0	0	30,709
LABORATORY CORP AMER HLDGS	COM NEW	50540R409	150,921	664	SH		SOLE		0	0	664
LENNOX INTL INC	COM	526107107	82,791	185	SH		SOLE		0	0	185
ELI LILLY & CO	COM	532457108	304,867	523	SH		SOLE		0	0	523
LOCKHEED MARTIN CORP	COM	539830109	127,360	281	SH		SOLE		0	0	281
CHENIERE ENERGY INC	COM NEW	16411R208	819,920	4,803	SH		SOLE		0	0	4,803
LIGHT & WONDER INC LNW	COM	80874P109	308,241	3,754	SH		SOLE		0	0	3,754
LOGITECH INTL S A	SHS	H50430232	392,883	4,133	SH		SOLE		0	0	4,133
GRAND CANYON ED INC	COM	38526M106	656,635	4,973	SH		SOLE		0	0	4,973
LPL FINL HLDGS INC	COM	50212V100	119,273	524	SH		SOLE		0	0	524
LOUISIANA PAC CORP	COM	546347105	91,867	1,297	SH		SOLE		0	0	1,297
LAM RESEARCH CORP	COM	512807108	304,688	389	SH		SOLE		0	0	389
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	580,749	6,108	SH		SOLE		0	0	6,108
LYFT INC	CL A COM	55087P104	34,267	2,286	SH		SOLE		0	0	2,286
LIVE NATION ENTERTAINMENT IN	COM	538034109	633,672	6,770	SH		SOLE		0	0	6,770
MASTERCARD INCORPORATED	CL A	57636Q104	1,842,523	4,320	SH		SOLE		0	0	4,320
MANHATTAN ASSOCIATES INC	COM	562750109	376,810	1,750	SH		SOLE		0	0	1,750
MARRIOTT INTL INC NEW	CL A	571903202	208,822	926	SH		SOLE		0	0	926
MASCO CORP	COM	574599106	34,964	522	SH		SOLE		0	0	522
MATTEL INC	COM	577081102	286,787	15,190	SH		SOLE		0	0	15,190
MICROCHIP TECHNOLOGY INC.	COM	595017104	165,300	1,833	SH		SOLE		0	0	1,833
MCKESSON CORP	COM	58155Q103	760,676	1,643	SH		SOLE		0	0	1,643
MOODYS CORP	COM	615369105	31,245	80	SH		SOLE		0	0	80
MONGODB INC	CL A	60937P106	147,186	360	SH		SOLE		0	0	360
MEDPACE HLDGS INC	COM	58506Q109	88,894	290	SH		SOLE		0	0	290
META PLATFORMS INC	CL A	30303M102	1,122,407	3,171	SH		SOLE		0	0	3,171
MARKEL GROUP INC	COM	570535104	180,327	127	SH		SOLE		0	0	127
MUELLER INDS INC	COM	624756102	367,817	7,801	SH		SOLE		0	0	7,801
MARSH & MCLENNAN COS INC	COM	571748102	250,858	1,324	SH		SOLE		0	0	1,324
MAXIMUS INC	COM	577933104	51,742	617	SH		SOLE		0	0	617
MERIT MED SYS INC	COM	589889104	95,862	1,262	SH		SOLE		0	0	1,262
ALTRIA GROUP INC	COM	02209S103	804,622	19,946	SH		SOLE		0	0	19,946
MOOG INC	CL A	615394202	257,419	1,778	SH		SOLE		0	0	1,778
MOLINA HEALTHCARE INC	COM	60855R100	530,764	1,469	SH		SOLE		0	0	1,469
MOSAIC CO NEW	COM	61945C103	173,398	4,853	SH		SOLE		0	0	4,853
MARATHON PETE CORP	COM	56585A102	1,302,749	8,781	SH		SOLE		0	0	8,781
MSA SAFETY INC	COM	553498106	142,155	842	SH		SOLE		0	0	842
MICROSOFT CORP	COM	594918104	2,307,381	6,136	SH		SOLE		0	0	6,136
MOTOROLA SOLUTIONS INC	COM NEW	620076307	580,782	1,855	SH		SOLE		0	0	1,855
MSC INDL DIRECT INC	CL A	553530106	641,887	6,339	SH		SOLE		0	0	6,339
MICROSTRATEGY INC	CL A NEW	594972408	197,065	312	SH		SOLE		0	0	312
M & T BK CORP	COM	55261F104	24,126	176	SH		SOLE		0	0	176
MGIC INVT CORP WIS	COM	552848103	303,412	15,729	SH		SOLE		0	0	15,729
MERITAGE HOMES CORP	COM	59001A102	178,555	1,025	SH		SOLE		0	0	1,025
MACOM TECH SOLUTIONS HLDGS I	COM	55405Y100	5,763	62	SH		SOLE		0	0	62
MICRON TECHNOLOGY INC	COM	595112103	11,009	129	SH		SOLE		0	0	129
ISHARES TR	NATIONAL MUN ETF	464288414	22,388,291	206,515	SH		SOLE		0	0	206,515
MURPHY USA INC	COM	626755102	1,381,670	3,875	SH		SOLE		0	0	3,875
NEUROCRINE BIOSCIENCES INC	COM	64125C109	66,275	503	SH		SOLE		0	0	503
NASDAQ INC	COM	631103108	57,791	994	SH		SOLE		0	0	994
NEWMARKET CORP	COM	651587107	638,075	1,169	SH		SOLE		0	0	1,169
NEW FORTRESS ENERGY INC	COM CL A	644393100	118,510	3,141	SH		SOLE		0	0	3,141
NATIONAL FUEL GAS CO	COM	636180101	328,262	6,543	SH		SOLE		0	0	6,543
NETFLIX INC	COM	64110L106	668,973	1,374	SH		SOLE		0	0	1,374
NNN REIT INC	COM	637417106	236,835	5,495	SH		SOLE		0	0	5,495
SERVICENOW INC	COM	81762P102	114,451	162	SH		SOLE		0	0	162
NRG ENERGY INC	COM NEW	629377508	248,470	4,806	SH		SOLE		0	0	4,806
INSIGHT ENTERPRISES INC	COM	45765U103	308,488	1,741	SH		SOLE		0	0	1,741
INSPERITY INC	COM	45778Q107	205,252	1,751	SH		SOLE		0	0	1,751
NETAPP INC	COM	64110D104	321,167	3,643	SH		SOLE		0	0	3,643
NUTANIX INC	CL A	67059N108	36,721	770	SH		SOLE		0	0	770
NUCOR CORP	COM	670346105	252,532	1,451	SH		SOLE		0	0	1,451
NVIDIA CORP	COM	67066G104	250,086	505	SH		SOLE		0	0	505
NVR INC	COM	62944T105	273,018	39	SH		SOLE		0	0	39
NEWS CORP NEW	CL A	65249B109	480,468	19,571	SH		SOLE		0	0	19,571
NEW YORK TIMES CO	CL A	650111107	1,166,844	23,818	SH		SOLE		0	0	23,818
OWENS CORNING NEW	COM	690742101	78,710	531	SH		SOLE		0	0	531
OLD DOMINION FREIGHT LINE IN	COM	679580100	20,672	51	SH		SOLE		0	0	51
OGE ENERGY CORP	COM	670837103	399,494	11,437	SH		SOLE		0	0	11,437
OMEGA HEALTHCARE INVS INC	COM	681936100	473,574	15,446	SH		SOLE		0	0	15,446
ONEOK INC NEW	COM	682680103	102,802	1,464	SH		SOLE		0	0	1,464
OLLIES BARGAIN OUTLET HLDGS I	COM	681116109	447,220	5,893	SH		SOLE		0	0	5,893
ONTO INNOVATION INC	COM	683344105	144,949	948	SH		SOLE		0	0	948
OPTION CARE HEALTH INC	COM NEW	68404L201	107,976	3,205	SH		SOLE		0	0	3,205
ORACLE CORP	COM	68389X105	170,164	1,614	SH		SOLE		0	0	1,614
OLD REP INTL CORP	COM	680223104	220,970	7,516	SH		SOLE		0	0	7,516
OREILLY AUTOMOTIVE INC	COM	67103H107	241,320	254	SH		SOLE		0	0	254
OVINTIV INC	COM	69047Q102	436,828	9,946	SH		SOLE		0	0	9,946
BANK OZK LITTLE ROCK ARK	COM	06417N103	18,238	366	SH		SOLE		0	0	366
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	484,419	3,018	SH		SOLE		0	0	3,018
PALO ALTO NETWORKS INC	COM	697435105	60,156	204	SH		SOLE		0	0	204
PBF ENERGY INC	CL A	69318G106	398,278	9,060	SH		SOLE		0	0	9,060
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	110,768	6,936	SH		SOLE		0	0	6,936
PACCAR INC	COM	693718108	172,743	1,769	SH		SOLE		0	0	1,769
PG&E CORP	COM	69331C108	263,256	14,601	SH		SOLE		0	0	14,601
PHILLIPS EDISON & CO INC	COMMON STOCK	71844V201	254,703	6,982	SH		SOLE		0	0	6,982
PUBLIC SVC ENTERPRISE GRP IN	COM	744573106	898,171	14,688	SH		SOLE		0	0	14,688
PEGASYSTEMS INC	COM	705573103	169,007	3,459	SH		SOLE		0	0	3,459
PFIZER INC	COM	717081103	218,660	7,595	SH		SOLE		0	0	7,595
PERFORMANCE FOOD GROUP CO	COM	71377A103	391,735	5,665	SH		SOLE		0	0	5,665
PROCTER & GAMBLE CO	COM	742718109	398,122	2,717	SH		SOLE		0	0	2,717
PROGRESSIVE CORP	COM	743315103	252,937	1,588	SH		SOLE		0	0	1,588
PARKER-HANNIFIN CORP	COM	701094104	94,649	205	SH		SOLE		0	0	205
PULTE GROUP INC	COM	745867101	508,462	4,926	SH		SOLE		0	0	4,926
POLARIS INC	COM	731068102	174,092	1,837	SH		SOLE		0	0	1,837
PACKAGING CORP AMER	COM	695156109	345,695	2,122	SH		SOLE		0	0	2,122
PALANTIR TECHNOLOGIES INC	CL A	69608A108	158,926	9,256	SH		SOLE		0	0	9,256
PHILIP MORRIS INTL INC	COM	718172109	8,109,696	86,200	SH		SOLE		0	0	86,200
PNC FINL SVCS GROUP INC	COM	693475105	3,407	22	SH		SOLE		0	0	22
PNM RES INC	COM	69349H107	8,304,026	199,616	SH		SOLE		0	0	199,616
PINNACLE WEST CAP CORP	COM	723484101	240,233	3,344	SH		SOLE		0	0	3,344
PORTLAND GEN ELEC CO	COM NEW	736508847	191,953	4,429	SH		SOLE		0	0	4,429
POST HLDGS INC	COM	737446104	257,047	2,919	SH		SOLE		0	0	2,919
PPG INDS INC	COM	693506107	105,732	707	SH		SOLE		0	0	707
PPL CORP	COM	69351T106	701,890	25,900	SH		SOLE		0	0	25,900
PERMIAN RESOURCES CORP	CLASS A COM	71424F105	308,149	22,658	SH		SOLE		0	0	22,658
PRIMERICA INC	COM	74164M108	137,242	667	SH		SOLE		0	0	667
PARSONS CORP DEL	COM	70202L102	514,912	8,211	SH		SOLE		0	0	8,211
PURE STORAGE INC	CL A	74624M102	143,496	4,024	SH		SOLE		0	0	4,024
PHILLIPS 66	COM	718546104	485,695	3,648	SH		SOLE		0	0	3,648
PVH CORPORATION	COM	693656100	143,491	1,175	SH		SOLE		0	0	1,175
POWERSCHOOL HOLDINGS INC	COM CL A	73939C106	181,200	7,691	SH		SOLE		0	0	7,691
PIONEER NAT RES CO	COM	723787107	109,741	488	SH		SOLE		0	0	488
QUALCOMM INC	COM	747525103	192,792	1,333	SH		SOLE		0	0	1,333
QUALYS INC	COM	74758T303	106,973	545	SH		SOLE		0	0	545
RYDER SYS INC	COM	783549108	268,539	2,323	SH		SOLE		0	0	2,323
RADIAN GROUP INC	COM	750236101	63,495	2,224	SH		SOLE		0	0	2,224
REGENCY CTRS CORP	COM	758849103	377,880	5,640	SH		SOLE		0	0	5,640
REGENERON PHARMACEUTICALS	COM	75886F107	210,790	240	SH		SOLE		0	0	240
REYNOLDS CONSUMER PRODS INC	COM	76171L106	122,068	4,548	SH		SOLE		0	0	4,548
REINSURANCE GRP OF AMERICA I	COM NEW	759351604	366,270	2,264	SH		SOLE		0	0	2,264
ROBERT HALF INC.	COM	770323103	453,755	5,161	SH		SOLE		0	0	5,161
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	537,093	4,880	SH		SOLE		0	0	4,880
RIO TINTO PLC	SPONSORED ADR	767204100	19,210,680	258,000	SH		SOLE		0	0	258,000
RITHM CAPITAL CORP	COM NEW	64828T201	134,237	12,569	SH		SOLE		0	0	12,569
RAYMOND JAMES FINL INC	COM	754730109	45,381	407	SH		SOLE		0	0	407
RALPH LAUREN CORP	CL A	751212101	269,654	1,870	SH		SOLE		0	0	1,870
RLI CORP	COM	749607107	125,000	939	SH		SOLE		0	0	939
RAMBUS INC DEL	COM	750917106	232,050	3,400	SH		SOLE		0	0	3,400
ROKU INC	COM CL A	77543R102	383,047	4,179	SH		SOLE		0	0	4,179
ROPER TECHNOLOGIES INC	COM	776696106	430,139	789	SH		SOLE		0	0	789
ROSS STORES INC	COM	778296103	231,665	1,674	SH		SOLE		0	0	1,674
RANGE RES CORP	COM	75281A109	214,663	7,052	SH		SOLE		0	0	7,052
RELIANCE STEEL & ALUMINUM CO	COM	759509102	1,254,924	4,487	SH		SOLE		0	0	4,487
REPUBLIC SVCS INC	COM	760759100	210,755	1,278	SH		SOLE		0	0	1,278
REVVITY INC	COM	714046109	12,352	113	SH		SOLE		0	0	113
RYAN SPECIALTY HOLDINGS INC	CL A	78351F107	105,571	2,454	SH		SOLE		0	0	2,454
SAIA INC	COM	78709Y105	245,841	561	SH		SOLE		0	0	561
SBA COMMUNICATIONS CORP NEW	CL A	78410G104	133,695	527	SH		SOLE		0	0	527
COMPANHIA DE SANEAMENTO BASI	SPONSORED ADR	20441A102	13,085,875	859,217	SH		SOLE		0	0	859,217
STARBUCKS CORP	COM	855244109	59,046	615	SH		SOLE		0	0	615
SOUTHERN COPPER CORP	COM	84265V105	935,925	10,874	SH		SOLE		0	0	10,874
SCHWAB CHARLES CORP	COM	808513105	1,588,386	23,087	SH		SOLE		0	0	23,087
SEI INVTS CO	COM	784117103	207,491	3,265	SH		SOLE		0	0	3,265
SPROUTS FMRS MKT INC	COM	85208M102	599,354	12,458	SH		SOLE		0	0	12,458
COMPANHIA SIDERURGICA NACION	SPONSORED ADR	20440W105	113,935	28,991	SH		SOLE		0	0	28,991
SELECTIVE INS GROUP INC	COM	816300107	174,289	1,752	SH		SOLE		0	0	1,752
SIRIUS XM HLDGS INC	COM	82968B103	536,651	98,108	SH		SOLE		0	0	98,108
SKECHERS U S A INC	CL A	830566105	87,837	1,409	SH		SOLE		0	0	1,409
SM ENERGY CO	COM	78454L100	156,777	4,049	SH		SOLE		0	0	4,049
SNAP ON INC	COM	833034101	374,337	1,296	SH		SOLE		0	0	1,296
SNAP INC	CL A	83304A106	108,318	6,398	SH		SOLE		0	0	6,398
SCHNEIDER NATIONAL INC	CL B	80689H102	6,083	239	SH		SOLE		0	0	239
SYNOPSYS INC	COM	871607107	346,534	673	SH		SOLE		0	0	673
SYNOVUS FINL CORP	COM NEW	87161C501	6,476	172	SH		SOLE		0	0	172
TD SYNNEX CORPORATION	COM	87162W100	170,239	1,582	SH		SOLE		0	0	1,582
SOFI TECHNOLOGIES INC	COM	83406F102	20,378	2,048	SH		SOLE		0	0	2,048
SONOCO PRODS CO	COM	835495102	509,702	9,123	SH		SOLE		0	0	9,123
SPLUNK INC	COM	848637104	241,932	1,588	SH		SOLE		0	0	1,588
SPIRIT RLTY CAP INC NEW	COM NEW	84860W300	156,716	3,587	SH		SOLE		0	0	3,587
SEMPRA	COM	816851109	487,837	6,528	SH		SOLE		0	0	6,528
SIMPSON MFG INC	COM	829073105	37,022	187	SH		SOLE		0	0	187
SS&C TECHNOLOGIES HLDGS INC	COM	78467J100	85,676	1,402	SH		SOLE		0	0	1,402
STAG INDL INC	COM	85254J102	207,332	5,281	SH		SOLE		0	0	5,281
STEEL DYNAMICS INC	COM	858119100	462,716	3,918	SH		SOLE		0	0	3,918
STATE STR CORP	COM	857477103	14,253	184	SH		SOLE		0	0	184
STARWOOD PPTY TR INC	COM	85571B105	49,208	2,341	SH		SOLE		0	0	2,341
CONSTELLATION BRANDS INC	CL A	21036P108	35,054	145	SH		SOLE		0	0	145
SUZANO SA	SPON ADS	86959K105	8,644,824	760,988	SH		SOLE		0	0	760,988
SOUTHWESTERN ENERGY CO	COM	845467109	86,250	13,168	SH		SOLE		0	0	13,168
SOUTHWEST GAS HOLDINGS INC	COM	844895102	268,224	4,234	SH		SOLE		0	0	4,234
STRYKER CORPORATION	COM	863667101	178,478	596	SH		SOLE		0	0	596
SYSCO CORP	COM	871829107	554,252	7,579	SH		SOLE		0	0	7,579
TERADATA CORP DEL	COM	88076W103	352,866	8,110	SH		SOLE		0	0	8,110
TRANSDIGM GROUP INC	COM	893641100	181,076	179	SH		SOLE		0	0	179
TELEDYNE TECHNOLOGIES INC	COM	879360105	29,455	66	SH		SOLE		0	0	66
TECK RESOURCES LTD	CL B	878742204	34,027,900	805,013	SH		SOLE		0	0	805,013
TFS FINL CORP	COM	87240R107	49,417	3,364	SH		SOLE		0	0	3,364
TARGET CORP	COM	87612E106	109,521	769	SH		SOLE		0	0	769
HANOVER INS GROUP INC	COM	410867105	65,081	536	SH		SOLE		0	0	536
THOR INDS INC	COM	885160101	121,206	1,025	SH		SOLE		0	0	1,025
TJX COS INC NEW	COM	872540109	421,864	4,497	SH		SOLE		0	0	4,497
TAYLOR MORRISON HOME CORP	COM	87724P106	111,395	2,088	SH		SOLE		0	0	2,088
T-MOBILE US INC	COM	872590104	300,458	1,874	SH		SOLE		0	0	1,874
TRINET GROUP INC	COM	896288107	337,999	2,842	SH		SOLE		0	0	2,842
TOLL BROTHERS INC	COM	889478103	366,549	3,566	SH		SOLE		0	0	3,566
TAPESTRY INC	COM	876030107	81,645	2,218	SH		SOLE		0	0	2,218
TARGA RES CORP	COM	87612G101	211,615	2,436	SH		SOLE		0	0	2,436
PRICE T ROWE GROUP INC	COM	74144T108	126,967	1,179	SH		SOLE		0	0	1,179
TRAVELERS COMPANIES INC	COM	89417E109	48,003	252	SH		SOLE		0	0	252
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	8,252,920	79,355	SH		SOLE		0	0	79,355
TAKE-TWO INTERACTIVE SOFTWAR	COM	874054109	258,969	1,609	SH		SOLE		0	0	1,609
TRADEWEB MKTS INC	CL A	892672106	239,196	2,632	SH		SOLE		0	0	2,632
TEXTRON INC	COM	883203101	226,865	2,821	SH		SOLE		0	0	2,821
TYLER TECHNOLOGIES INC	COM	902252105	26,342	63	SH		SOLE		0	0	63
UNITED BANKSHARES INC WEST V	COM	909907107	57,827	1,540	SH		SOLE		0	0	1,540
UFP INDUSTRIES INC	COM	90278Q108	398,245	3,172	SH		SOLE		0	0	3,172
UNIVERSAL HLTH SVCS INC	CL B	913903100	54,726	359	SH		SOLE		0	0	359
UNITEDHEALTH GROUP INC	COM	91324P102	579,117	1,100	SH		SOLE		0	0	1,100
UNUM GROUP	COM	91529Y106	57,836	1,279	SH		SOLE		0	0	1,279
GLOBAL X FDS	GLOBAL X URANIUM	37954Y871	39,614,865	1,430,656	SH		SOLE		0	0	1,430,656
US FOODS HLDG CORP	COM	912008109	489,747	10,785	SH		SOLE		0	0	10,785
UNITED THERAPEUTICS CORP DEL	COM	91307C102	366,996	1,669	SH		SOLE		0	0	1,669
VISA INC	COM CL A	92826C839	198,387	762	SH		SOLE		0	0	762
VICI PPTYS INC	COM	925652109	580,088	18,196	SH		SOLE		0	0	18,196
VALERO ENERGY CORP	COM	91913Y100	912,990	7,023	SH		SOLE		0	0	7,023
VORNADO RLTY TR	SH BEN INT	929042109	165,347	5,853	SH		SOLE		0	0	5,853
VONTIER CORPORATION	COM	928881101	664,638	19,237	SH		SOLE		0	0	19,237
VOYA FINANCIAL INC	COM	929089100	53,261	730	SH		SOLE		0	0	730
VERISK ANALYTICS INC	COM	92345Y106	69,269	290	SH		SOLE		0	0	290
VERISIGN INC	COM	92343E102	97,213	472	SH		SOLE		0	0	472
VERTIV HOLDINGS CO	COM CL A	92537N108	167,337	3,484	SH		SOLE		0	0	3,484
VERTEX PHARMACEUTICALS INC	COM	92532F100	239,251	588	SH		SOLE		0	0	588
VISTRA CORP	COM	92840M102	188,555	4,895	SH		SOLE		0	0	4,895
VTEX	SHS CL A	G9470A102	68,525	9,960	SH		SOLE		0	0	9,960
VERIZON COMMUNICATIONS INC	COM	92343V104	112,195	2,976	SH		SOLE		0	0	2,976
WABTEC	COM	929740108	159,767	1,259	SH		SOLE		0	0	1,259
WORKDAY INC	CL A	98138H101	1,430,267	5,181	SH		SOLE		0	0	5,181
WELLTOWER INC	COM	95040Q104	361,131	4,005	SH		SOLE		0	0	4,005
WELLS FARGO CO NEW	COM	949746101	5,956	121	SH		SOLE		0	0	121
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	149,643	1,861	SH		SOLE		0	0	1,861
WINGSTOP INC	COM	974155103	85,698	334	SH		SOLE		0	0	334
WESTLAKE CORPORATION	COM	960413102	151,997	1,086	SH		SOLE		0	0	1,086
WASTE MGMT INC DEL	COM	94106L109	50,148	280	SH		SOLE		0	0	280
WILLIAMS COS INC	COM	969457100	181,360	5,207	SH		SOLE		0	0	5,207
WARNER MUSIC GROUP CORP	COM CL A	934550203	255,541	7,140	SH		SOLE		0	0	7,140
WALMART INC	COM	931142103	248,719	4,733	SH		SOLE		0	0	4,733
BERKLEY W R CORP	COM	084423102	111,455	1,576	SH		SOLE		0	0	1,576
WESTROCK CO	COM	96145D105	321,738	7,749	SH		SOLE		0	0	7,749
WILLIAMS SONOMA INC	COM	969904101	340,201	1,686	SH		SOLE		0	0	1,686
WATSCO INC	COM	942622200	428	1	SH		SOLE		0	0	1
WEST PHARMACEUTICAL SVSC INC	COM	955306105	71,832	204	SH		SOLE		0	0	204
WINTRUST FINL CORP	COM	97650W108	59,824	645	SH		SOLE		0	0	645
WATTS WATER TECHNOLOGIES INC	CL A	942749102	157,922	758	SH		SOLE		0	0	758
WESTERN UN CO	COM	959802109	381,714	32,023	SH		SOLE		0	0	32,023
WOODWARD INC	COM	980745103	197,933	1,454	SH		SOLE		0	0	1,454
WEYERHAEUSER CO MTN BE	COM	962166104	418,631	12,040	SH		SOLE		0	0	12,040
UNITED STATES STL CORP NEW	COM	912909108	2,236,927	45,980	SH		SOLE		0	0	45,980
XCEL ENERGY INC	COM	98389B100	275,747	4,454	SH		SOLE		0	0	4,454
SPDR SER TR	S&P METALS MNG	78464A755	2,869,387	47,959	SH		SOLE		0	0	47,959
EXXON MOBIL CORP	COM	30231G102	159,368	1,594	SH		SOLE		0	0	1,594
SPDR SER TR	S&P OILGAS EXP	78468R556	61,199	447	SH		SOLE		0	0	447
XP INC	CL A	G98239109	6,404,460	245,664	SH		SOLE		0	0	245,664
XPO INC	COM	983793100	522,737	5,968	SH		SOLE		0	0	5,968
ZURN ELKAY WATER SOLNS CORP	COM	98983L108	75,907	2,581	SH		SOLE		0	0	2,581
ISHARES TR	PUT	464287954	800	20,000	SH	Put	SOLE		0	0	20,000
ISHARES TR	PUT	464288953	1,200	20,000	SH	Put	SOLE		0	0	20,000