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
ABERCROMBIE & FITCH CO	CL A	002896207	415,970	3,319	SH		SOLE		0	0	3,319
ACUITY BRANDS INC	COM	00508Y102	382,672	1,424	SH		SOLE		0	0	1,424
ADOBE INC	COM	00724F101	289,640	574	SH		SOLE		0	0	574
ALBERTSONS COS INC	COMMON STOCK	013091103	395,096	18,428	SH		SOLE		0	0	18,428
ALLISON TRANSMISSION HLDGS I	COM	01973R101	214,506	2,643	SH		SOLE		0	0	2,643
ALLSTATE CORP	COM	020002101	347,750	2,010	SH		SOLE		0	0	2,010
ALPHABET INC	CAP STK CL A	02079K305	9,263,480	61,376	SH		SOLE		0	0	61,376
ALTAIR ENGR INC	COM CL A	021369103	250,869	2,912	SH		SOLE		0	0	2,912
ALTRIA GROUP INC	COM	02209S103	266,911	6,119	SH		SOLE		0	0	6,119
ALTSHARES TRUST	MERGER ARBITRAGE	02210T108	10,872,000	400,000	SH		SOLE		0	0	400,000
AMAZON COM INC	COM	023135106	1,112,945	6,170	SH		SOLE		0	0	6,170
AMERICAN EAGLE OUTFITTERS IN	COM	02553E106	408,410	15,836	SH		SOLE		0	0	15,836
AMERICAN ELEC PWR CO INC	COM	025537101	306,172	3,556	SH		SOLE		0	0	3,556
APOLLO GLOBAL MGMT INC	COM	03769M106	212,755	1,892	SH		SOLE		0	0	1,892
APPFOLIO INC	COM CL A	03783C100	341,982	1,386	SH		SOLE		0	0	1,386
APPLE INC	COM	037833100	895,469	5,222	SH		SOLE		0	0	5,222
APPLIED INDL TECHNOLOGIES IN	COM	03820C105	519,359	2,629	SH		SOLE		0	0	2,629
APPLIED MATLS INC	COM	038222105	399,468	1,937	SH		SOLE		0	0	1,937
APTARGROUP INC	COM	038336103	217,993	1,515	SH		SOLE		0	0	1,515
ARAMARK	COM	03852U106	275,867	8,483	SH		SOLE		0	0	8,483
ARES CAPITAL CORP	COM	04010L103	441,176	21,190	SH		SOLE		0	0	21,190
AT&T INC	COM	00206R102	275,053	15,628	SH		SOLE		0	0	15,628
AXONICS INC	COM	05465P101	24,358,894	353,181	SH		SOLE		0	0	353,181
AZUL S A	SPONSR ADR PFD	05501U106	4,210,501	541,892	SH		SOLE		0	0	541,892
BEACON ROOFING SUPPLY INC	COM	073685109	448,932	4,580	SH		SOLE		0	0	4,580
BEST BUY INC	COM	086516101	462,239	5,635	SH		SOLE		0	0	5,635
BLOCK H & R INC	COM	093671105	384,777	7,835	SH		SOLE		0	0	7,835
BOISE CASCADE CO DEL	COM	09739D100	945,986	6,168	SH		SOLE		0	0	6,168
BOOKING HOLDINGS INC	COM	09857L108	286,603	79	SH		SOLE		0	0	79
BOOZ ALLEN HAMILTON HLDG COR	CL A	099502106	350,467	2,361	SH		SOLE		0	0	2,361
BOSTON SCIENTIFIC CORP	COM	101137107	381,147	5,565	SH		SOLE		0	0	5,565
BOYD GAMING CORP	COM	103304101	200,142	2,973	SH		SOLE		0	0	2,973
BRF SA	SPONSORED ADR	10552T107	142,002	43,559	SH		SOLE		0	0	43,559
BRIXMOR PPTY GROUP INC	COM	11120U105	530,650	22,629	SH		SOLE		0	0	22,629
BUILDERS FIRSTSOURCE INC	COM	12008R107	439,832	2,109	SH		SOLE		0	0	2,109
CABOT CORP	COM	127055101	218,053	2,365	SH		SOLE		0	0	2,365
CACI INTL INC	CL A	127190304	393,604	1,039	SH		SOLE		0	0	1,039
CAPRI HOLDINGS LIMITED	SHS	G1890L107	18,043,126	398,303	SH		SOLE		0	0	398,303
CARDINAL HEALTH INC	COM	14149Y108	401,497	3,588	SH		SOLE		0	0	3,588
CBOE GLOBAL MKTS INC	COM	12503M108	412,290	2,244	SH		SOLE		0	0	2,244
CDW CORP	COM	12514G108	222,529	870	SH		SOLE		0	0	870
CENCORA INC	COM	03073E105	896,633	3,690	SH		SOLE		0	0	3,690
CENTENE CORP DEL	COM	15135B101	915,077	11,660	SH		SOLE		0	0	11,660
CENTERPOINT ENERGY INC	COM	15189T107	374,330	13,139	SH		SOLE		0	0	13,139
CENTRAIS ELETRICAS BRASILEIR	SPONSORED ADR	15234Q207	2,709,901	324,539	SH		SOLE		0	0	324,539
CF INDS HLDGS INC	COM	125269100	368,204	4,425	SH		SOLE		0	0	4,425
CHARTER COMMUNICATIONS INC N	CL A	16119P108	8,049,870	27,698	SH		SOLE		0	0	27,698
CHORD ENERGY CORPORATION	COM NEW	674215207	295,700	1,659	SH		SOLE		0	0	1,659
CIA ENERGETICA DE MINAS GERA	SP ADR N-V PFD	204409601	125,264	50,714	SH		SOLE		0	0	50,714
CIENA CORP	COM NEW	171779309	237,014	4,793	SH		SOLE		0	0	4,793
CIRRUS LOGIC INC	COM	172755100	235,380	2,543	SH		SOLE		0	0	2,543
CISCO SYS INC	COM	17275R102	474,045	9,498	SH		SOLE		0	0	9,498
CLEVELAND-CLIFFS INC NEW	COM	185899101	218,645	9,615	SH		SOLE		0	0	9,615
CNA FINL CORP	COM	126117100	248,584	5,473	SH		SOLE		0	0	5,473
COCA COLA CONS INC	COM	191098102	927,665	1,096	SH		SOLE		0	0	1,096
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	531,426	7,251	SH		SOLE		0	0	7,251
COLUMBIA SPORTSWEAR CO	COM	198516106	429,280	5,288	SH		SOLE		0	0	5,288
COMMERCIAL METALS CO	COM	201723103	760,190	12,935	SH		SOLE		0	0	12,935
COMMVAULT SYS INC	COM	204166102	505,020	4,979	SH		SOLE		0	0	4,979
COMPANHIA DE SANEAMENTO BASI	SPONSORED ADR	20441A102	13,713,757	814,840	SH		SOLE		0	0	814,840
CONOCOPHILLIPS	COM	20825C104	251,505	1,976	SH		SOLE		0	0	1,976
CONSOLIDATED EDISON INC	COM	209115104	630,221	6,940	SH		SOLE		0	0	6,940
COSAN S A	ADS	22113B103	3,323,618	256,650	SH		SOLE		0	0	256,650
COSTCO WHSL CORP NEW	COM	22160K105	309,902	423	SH		SOLE		0	0	423
CROWDSTRIKE HLDGS INC	CL A	22788C105	259,037	808	SH		SOLE		0	0	808
CURTISS WRIGHT CORP	COM	231561101	267,713	1,046	SH		SOLE		0	0	1,046
D R HORTON INC	COM	23331A109	344,074	2,091	SH		SOLE		0	0	2,091
DECKERS OUTDOOR CORP	COM	243537107	345,442	367	SH		SOLE		0	0	367
DEVON ENERGY CORP NEW	COM	25179M103	200,419	3,994	SH		SOLE		0	0	3,994
DIAGEO PLC	SPON ADR NEW	25243Q205	3,324,339	22,350	SH		SOLE		0	0	22,350
DIAMONDBACK ENERGY INC	COM	25278X109	706,872	3,567	SH		SOLE		0	0	3,567
DICKS SPORTING GOODS INC	COM	253393102	220,138	979	SH		SOLE		0	0	979
DILLARDS INC	CL A	254067101	392,404	832	SH		SOLE		0	0	832
DOLLAR TREE INC	COM	256746108	203,720	1,530	SH		SOLE		0	0	1,530
DOXIMITY INC	CL A	26622P107	216,491	8,045	SH		SOLE		0	0	8,045
DROPBOX INC	CL A	26210C104	376,772	15,505	SH		SOLE		0	0	15,505
DTE ENERGY CO	COM	233331107	642,450	5,729	SH		SOLE		0	0	5,729
DUKE ENERGY CORP NEW	COM NEW	26441C204	248,158	2,566	SH		SOLE		0	0	2,566
DYNATRACE INC	COM NEW	268150109	263,547	5,675	SH		SOLE		0	0	5,675
EAGLE MATLS INC	COM	26969P108	511,705	1,883	SH		SOLE		0	0	1,883
EASTGROUP PPTYS INC	COM	277276101	560,523	3,118	SH		SOLE		0	0	3,118
ELANCO ANIMAL HEALTH INC	COM	28414H103	234,888	14,428	SH		SOLE		0	0	14,428
ELECTRONIC ARTS INC	COM	285512109	805,440	6,071	SH		SOLE		0	0	6,071
ELEVANCE HEALTH INC	COM	036752103	474,464	915	SH		SOLE		0	0	915
ELI LILLY & CO	COM	532457108	284,733	366	SH		SOLE		0	0	366
ENACT HLDGS INC	COM	29249E109	259,823	8,333	SH		SOLE		0	0	8,333
ENTERGY CORP NEW	COM	29364G103	1,076,562	10,187	SH		SOLE		0	0	10,187
ERO COPPER CORP	COM	296006109	7,037,200	365,000	SH		SOLE		0	0	365,000
EURONET WORLDWIDE INC	COM	298736109	251,960	2,292	SH		SOLE		0	0	2,292
EVE HLDG INC	COM	29970N104	2,700,000	500,000	SH		SOLE		0	0	500,000
EXPEDIA GROUP INC	COM NEW	30212P303	311,728	2,263	SH		SOLE		0	0	2,263
F5 INC	COM	315616102	482,507	2,545	SH		SOLE		0	0	2,545
FAIR ISAAC CORP	COM	303250104	402,374	322	SH		SOLE		0	0	322
FEDERAL RLTY INVT TR NEW	SH BEN INT NEW	313745101	247,845	2,427	SH		SOLE		0	0	2,427
FEDERAL SIGNAL CORP	COM	313855108	236,533	2,787	SH		SOLE		0	0	2,787
FIRST INDL RLTY TR INC	COM	32054K103	615,716	11,719	SH		SOLE		0	0	11,719
FIRSTENERGY CORP	COM	337932107	388,170	10,051	SH		SOLE		0	0	10,051
FLOWERS FOODS INC	COM	343498101	296,210	12,472	SH		SOLE		0	0	12,472
FORTINET INC	COM	34959E109	289,976	4,245	SH		SOLE		0	0	4,245
FREEPORT-MCMORAN INC	CL B	35671D857	5,065,512	107,731	SH		SOLE		0	0	107,731
FS KKR CAP CORP	COM	302635206	305,501	16,020	SH		SOLE		0	0	16,020
GENERAL MLS INC	COM	370334104	261,758	3,741	SH		SOLE		0	0	3,741
GLAUKOS CORP	COM	377322102	240,157	2,547	SH		SOLE		0	0	2,547
GLOBAL X FDS	GLOBAL X URANIUM	37954Y871	21,779,796	755,456	SH		SOLE		0	0	755,456
GLOBAL X FDS	GLOBAL X COPPER	37954Y830	1,441,644	33,977	SH		SOLE		0	0	33,977
GODADDY INC	CL A	380237107	488,962	4,120	SH		SOLE		0	0	4,120
GRAPHIC PACKAGING HLDG CO	COM	388689101	326,116	11,176	SH		SOLE		0	0	11,176
HAMILTON LANE INC	CL A	407497106	208,493	1,849	SH		SOLE		0	0	1,849
HANOVER INS GROUP INC	COM	410867105	402,519	2,956	SH		SOLE		0	0	2,956
HENRY SCHEIN INC	COM	806407102	283,124	3,749	SH		SOLE		0	0	3,749
HESS CORP	COM	42809H107	25,489,201	166,989	SH		SOLE		0	0	166,989
HF SINCLAIR CORP	COM	403949100	674,635	11,175	SH		SOLE		0	0	11,175
HOST HOTELS & RESORTS INC	COM	44107P104	533,668	25,806	SH		SOLE		0	0	25,806
HOULIHAN LOKEY INC	CL A	441593100	316,886	2,472	SH		SOLE		0	0	2,472
HUNTINGTON INGALLS INDS INC	COM	446413106	327,029	1,122	SH		SOLE		0	0	1,122
IDEXX LABS INC	COM	45168D104	233,250	432	SH		SOLE		0	0	432
INGREDION INC	COM	457187102	861,418	7,372	SH		SOLE		0	0	7,372
INSIGHT ENTERPRISES INC	COM	45765U103	571,958	3,083	SH		SOLE		0	0	3,083
INSTALLED BLDG PRODS INC	COM	45780R101	214,487	829	SH		SOLE		0	0	829
INTER PARFUMS INC	COM	458334109	209,641	1,492	SH		SOLE		0	0	1,492
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	247,237	1,799	SH		SOLE		0	0	1,799
INTERNATIONAL BUSINESS MACHS	COM	459200101	420,112	2,200	SH		SOLE		0	0	2,200
INTRA-CELLULAR THERAPIES INC	COM	46116X101	245,591	3,549	SH		SOLE		0	0	3,549
INTUIT	COM	461202103	355,550	547	SH		SOLE		0	0	547
ISHARES INC	MSCI NETHERL ETF	464286814	6,260,160	126,519	SH		SOLE		0	0	126,519
ISHARES TR	CHINA LG-CAP ETF	464287184	36,629,726	1,521,800	SH		SOLE		0	0	1,521,800
ISHARES TR	CHINA LG-CAP ETF	464287184	1,110,000	3,000,000	SH	Put	SOLE		0	0	3,000,000
ITT INC	COM	45073V108	287,839	2,116	SH		SOLE		0	0	2,116
JOHNSON & JOHNSON	COM	478160104	373,170	2,359	SH		SOLE		0	0	2,359
JUNIPER NETWORKS INC	COM	48203R104	492,639	13,293	SH		SOLE		0	0	13,293
KEURIG DR PEPPER INC	COM	49271V100	547,889	17,864	SH		SOLE		0	0	17,864
KEYSIGHT TECHNOLOGIES INC	COM	49338L103	367,806	2,352	SH		SOLE		0	0	2,352
KIRBY CORP	COM	497266106	216,186	2,268	SH		SOLE		0	0	2,268
KRANESHARES TRUST	CSI CHI INTERNET	500767306	12,088,125	460,500	SH		SOLE		0	0	460,500
KROGER CO	COM	501044101	382,542	6,696	SH		SOLE		0	0	6,696
LABORATORY CORP AMER HLDGS	COM NEW	50540R409	287,930	1,318	SH		SOLE		0	0	1,318
LAM RESEARCH CORP	COM	512807108	239,978	247	SH		SOLE		0	0	247
LANDSTAR SYS INC	COM	515098101	235,360	1,221	SH		SOLE		0	0	1,221
LENNAR CORP	CL A	526057104	397,618	2,312	SH		SOLE		0	0	2,312
LEVI STRAUSS & CO NEW	CL A COM STK	52736R102	356,582	17,838	SH		SOLE		0	0	17,838
LIVE NATION ENTERTAINMENT IN	COM	538034109	487,811	4,612	SH		SOLE		0	0	4,612
LOMA NEGRA C I A S A MTN 14	SPONSORED ADS	54150E104	2,529,048	378,600	SH		SOLE		0	0	378,600
MANHATTAN ASSOCIATES INC	COM	562750109	252,232	1,008	SH		SOLE		0	0	1,008
MARATHON OIL CORP	COM	565849106	240,607	8,490	SH		SOLE		0	0	8,490
MARATHON PETE CORP	COM	56585A102	1,159,230	5,753	SH		SOLE		0	0	5,753
MASCO CORP	COM	574599106	503,885	6,388	SH		SOLE		0	0	6,388
MASTERCARD INCORPORATED	CL A	57636Q104	245,119	509	SH		SOLE		0	0	509
MCKESSON CORP	COM	58155Q103	366,669	683	SH		SOLE		0	0	683
MEDPACE HLDGS INC	COM	58506Q109	252,998	626	SH		SOLE		0	0	626
MERCK & CO INC	COM	58933Y105	383,183	2,904	SH		SOLE		0	0	2,904
MERIT MED SYS INC	COM	589889104	364,206	4,808	SH		SOLE		0	0	4,808
META PLATFORMS INC	CL A	30303M102	1,299,412	2,676	SH		SOLE		0	0	2,676
MICROSOFT CORP	COM	594918104	10,367,803	24,643	SH		SOLE		0	0	24,643
MODINE MFG CO	COM	607828100	251,968	2,647	SH		SOLE		0	0	2,647
MOLINA HEALTHCARE INC	COM	60855R100	343,454	836	SH		SOLE		0	0	836
MR COOPER GROUP INC	COM	62482R107	339,706	4,358	SH		SOLE		0	0	4,358
MSC INDL DIRECT INC	CL A	553530106	579,426	5,971	SH		SOLE		0	0	5,971
MUELLER INDS INC	COM	624756102	306,700	5,687	SH		SOLE		0	0	5,687
MURPHY USA INC	COM	626755102	453,155	1,081	SH		SOLE		0	0	1,081
NETAPP INC	COM	64110D104	1,223,845	11,659	SH		SOLE		0	0	11,659
NETFLIX INC	COM	64110L106	1,068,901	1,760	SH		SOLE		0	0	1,760
NEWMARKET CORP	COM	651587107	408,695	644	SH		SOLE		0	0	644
NEWS CORP NEW	CL A	65249B109	1,243,550	47,500	SH		SOLE		0	0	47,500
NUCOR CORP	COM	670346105	835,534	4,222	SH		SOLE		0	0	4,222
NUTANIX INC	CL A	67059N108	261,878	4,243	SH		SOLE		0	0	4,243
NUVALENT INC	COM	670703107	211,979	2,823	SH		SOLE		0	0	2,823
NVIDIA CORPORATION	COM	67066G104	622,000	40,000	SH	Put	SOLE		0	0	40,000
NVR INC	COM	62944T105	307,798	38	SH		SOLE		0	0	38
OKTA INC	CL A	679295105	832,671	7,959	SH		SOLE		0	0	7,959
OLD DOMINION FREIGHT LINE IN	COM	679580100	947,419	4,320	SH		SOLE		0	0	4,320
OMNICOM GROUP INC	COM	681919106	329,952	3,410	SH		SOLE		0	0	3,410
ONEOK INC NEW	COM	682680103	346,655	4,324	SH		SOLE		0	0	4,324
OVINTIV INC	COM	69047Q102	508,361	9,795	SH		SOLE		0	0	9,795
PAGSEGURO DIGITAL LTD	COM CL A	G68707101	2,544,068	178,156	SH		SOLE		0	0	178,156
PARSONS CORP DEL	COM	70202L102	271,993	3,279	SH		SOLE		0	0	3,279
PAYCHEX INC	COM	704326107	204,953	1,669	SH		SOLE		0	0	1,669
PBF ENERGY INC	CL A	69318G106	794,293	13,797	SH		SOLE		0	0	13,797
PERFORMANCE FOOD GROUP CO	COM	71377A103	489,564	6,559	SH		SOLE		0	0	6,559
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	105,000	3,500,000	SH	Put	SOLE		0	0	3,500,000
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	4,242,784	278,947	SH		SOLE		0	0	278,947
PHILIP MORRIS INTL INC	COM	718172109	1,630,378	17,795	SH		SOLE		0	0	17,795
PHILLIPS 66	COM	718546104	562,543	3,444	SH		SOLE		0	0	3,444
PINTEREST INC	CL A	72352L106	295,458	8,522	SH		SOLE		0	0	8,522
PIONEER NAT RES CO	COM	723787107	40,112,625	152,810	SH		SOLE		0	0	152,810
PNM RES INC	COM	69349H107	4,773,053	126,808	SH		SOLE		0	0	126,808
PORTLAND GEN ELEC CO	COM NEW	736508847	308,238	7,339	SH		SOLE		0	0	7,339
POST HLDGS INC	COM	737446104	518,221	4,876	SH		SOLE		0	0	4,876
PPG INDS INC	COM	693506107	407,459	2,812	SH		SOLE		0	0	2,812
PPL CORP	COM	69351T106	679,963	24,699	SH		SOLE		0	0	24,699
PUBLIC STORAGE	COM	74460D109	246,261	849	SH		SOLE		0	0	849
PUBLIC SVC ENTERPRISE GRP IN	COM	744573106	272,730	4,084	SH		SOLE		0	0	4,084
PULTE GROUP INC	COM	745867101	467,644	3,877	SH		SOLE		0	0	3,877
PVH CORPORATION	COM	693656100	523,913	3,726	SH		SOLE		0	0	3,726
QUALCOMM INC	COM	747525103	369,751	2,184	SH		SOLE		0	0	2,184
QUEST DIAGNOSTICS INC	COM	74834L100	207,252	1,557	SH		SOLE		0	0	1,557
RALPH LAUREN CORP	CL A	751212101	692,271	3,687	SH		SOLE		0	0	3,687
REGENERON PHARMACEUTICALS	COM	75886F107	446,595	464	SH		SOLE		0	0	464
RELIANCE INC	COM	759509102	747,226	2,236	SH		SOLE		0	0	2,236
REYNOLDS CONSUMER PRODS INC	COM	76171L106	435,283	15,241	SH		SOLE		0	0	15,241
RIO TINTO PLC	SPONSORED ADR	767204100	16,444,920	258,000	SH		SOLE		0	0	258,000
ROBERT HALF INC.	COM	770323103	336,544	4,245	SH		SOLE		0	0	4,245
ROSS STORES INC	COM	778296103	353,545	2,409	SH		SOLE		0	0	2,409
RPM INTL INC	COM	749685103	200,669	1,687	SH		SOLE		0	0	1,687
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	940,025	8,131	SH		SOLE		0	0	8,131
SALESFORCE INC	COM	79466L302	227,090	754	SH		SOLE		0	0	754
SEMPRA	COM	816851109	305,852	4,258	SH		SOLE		0	0	4,258
SERVICENOW INC	COM	81762P102	214,234	281	SH		SOLE		0	0	281
SILGAN HLDGS INC	COM	827048109	219,394	4,518	SH		SOLE		0	0	4,518
SIMON PPTY GROUP INC NEW	COM	828806109	374,794	2,395	SH		SOLE		0	0	2,395
SIRIUS XM HOLDINGS INC	COM	82968B103	608,861	156,923	SH		SOLE		0	0	156,923
SKECHERS U S A INC	CL A	830566105	475,745	7,766	SH		SOLE		0	0	7,766
SM ENERGY CO	COM	78454L100	433,645	8,699	SH		SOLE		0	0	8,699
SONOCO PRODS CO	COM	835495102	484,468	8,376	SH		SOLE		0	0	8,376
SOUTHWEST GAS HLDGS INC	COM	844895102	399,911	5,253	SH		SOLE		0	0	5,253
SPDR SER TR	S&P BIOTECH	78464A870	1,838,968	19,380	SH		SOLE		0	0	19,380
SPECTRUM BRANDS HLDGS INC NE	COM	84790A105	255,014	2,865	SH		SOLE		0	0	2,865
SPROUTS FMRS MKT INC	COM	85208M102	291,643	4,523	SH		SOLE		0	0	4,523
STAG INDL INC	COM	85254J102	512,943	13,344	SH		SOLE		0	0	13,344
STEEL DYNAMICS INC	COM	858119100	276,152	1,863	SH		SOLE		0	0	1,863
STIFEL FINL CORP	COM	860630102	276,331	3,535	SH		SOLE		0	0	3,535
STRYKER CORPORATION	COM	863667101	203,986	570	SH		SOLE		0	0	570
SYSCO CORP	COM	871829107	774,538	9,541	SH		SOLE		0	0	9,541
T-MOBILE US INC	COM	872590104	339,498	2,080	SH		SOLE		0	0	2,080
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	8,220,685	60,424	SH		SOLE		0	0	60,424
TAPESTRY INC	COM	876030107	251,929	5,306	SH		SOLE		0	0	5,306
TAYLOR MORRISON HOME CORP	COM	87724P106	231,086	3,717	SH		SOLE		0	0	3,717
TECK RESOURCES LTD	CL B	878742204	37,874,252	827,310	SH		SOLE		0	0	827,310
TELEFLEX INCORPORATED	COM	879369106	248,561	1,099	SH		SOLE		0	0	1,099
TERRENO RLTY CORP	COM	88146M101	204,645	3,082	SH		SOLE		0	0	3,082
THE CIGNA GROUP	COM	125523100	392,245	1,080	SH		SOLE		0	0	1,080
THOR INDS INC	COM	885160101	257,679	2,196	SH		SOLE		0	0	2,196
TOPBUILD CORP	COM	89055F103	242,842	551	SH		SOLE		0	0	551
TRAVELERS COMPANIES INC	COM	89417E109	292,508	1,271	SH		SOLE		0	0	1,271
UFP INDUSTRIES INC	COM	90278Q108	417,619	3,395	SH		SOLE		0	0	3,395
UGI CORP NEW	COM	902681105	233,056	9,497	SH		SOLE		0	0	9,497
UNITED STATES STL CORP NEW	COM	912909108	4,689,496	114,995	SH		SOLE		0	0	114,995
UNITEDHEALTH GROUP INC	COM	91324P102	460,071	930	SH		SOLE		0	0	930
UNUM GROUP	COM	91529Y106	219,201	4,085	SH		SOLE		0	0	4,085
US FOODS HLDG CORP	COM	912008109	301,045	5,578	SH		SOLE		0	0	5,578
VALERO ENERGY CORP	COM	91913Y100	725,433	4,250	SH		SOLE		0	0	4,250
VANECK ETF TRUST	VANECK VIETNAM	92189F817	547,716	39,404	SH		SOLE		0	0	39,404
VARONIS SYS INC	COM	922280102	223,586	4,740	SH		SOLE		0	0	4,740
VERISIGN INC	COM	92343E102	328,610	1,734	SH		SOLE		0	0	1,734
VERIZON COMMUNICATIONS INC	COM	92343V104	366,856	8,743	SH		SOLE		0	0	8,743
VERTEX PHARMACEUTICALS INC	COM	92532F100	308,073	737	SH		SOLE		0	0	737
VIATRIS INC	COM	92556V106	215,672	18,063	SH		SOLE		0	0	18,063
VICI PPTYS INC	COM	925652109	528,266	17,733	SH		SOLE		0	0	17,733
VISA INC	COM CL A	92826C839	3,991,960	14,304	SH		SOLE		0	0	14,304
VISTRA CORP	COM	92840M102	273,376	3,925	SH		SOLE		0	0	3,925
VONTIER CORPORATION	COM	928881101	338,431	7,461	SH		SOLE		0	0	7,461
WABTEC	COM	929740108	258,728	1,776	SH		SOLE		0	0	1,776
WARNER MUSIC GROUP CORP	COM CL A	934550203	257,820	7,808	SH		SOLE		0	0	7,808
WELLTOWER INC	COM	95040Q104	321,340	3,439	SH		SOLE		0	0	3,439
WESTERN UN CO	COM	959802109	348,130	24,902	SH		SOLE		0	0	24,902
WILLIAMS SONOMA INC	COM	969904101	262,280	826	SH		SOLE		0	0	826
WINGSTOP INC	COM	974155103	297,150	811	SH		SOLE		0	0	811
WORKDAY INC	CL A	98138H101	1,707,415	6,260	SH		SOLE		0	0	6,260
XP INC	CL A	G98239109	5,790,538	225,664	SH		SOLE		0	0	225,664
XPO INC	COM	983793100	346,199	2,837	SH		SOLE		0	0	2,837