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
Expires: July 31, 2015
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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 Nasdaq 100 ETF USD Class COM 46138G649 178,949 590,648 SH SOLE 590,648 0 0
State Street Materials Select Sector SPDR ETF USD Class COM 81369Y100 108,530 2,135,161 SH SOLE 2,135,161 0 0
State Street Energy Select Sector SPDR ETF USD Class COM 81369Y506 98,458 1,853,850 SH SOLE 1,853,850 0 0
State Street Financial Select Sector SPDR ETF USD Class COM 81369Y605 509,928 9,511,811 SH SOLE 9,511,811 0 0
State Street Industrial Select Sector SPDR ETF USD Class COM 81369Y704 352,814 1,904,735 SH SOLE 1,904,735 0 0
State Street Technology Select Sector SPDR ETF USD Class COM 81369Y803 1,148,244 6,026,894 SH SOLE 6,026,894 0 0
State Street Utilities Select Sector SPDR ETF USD Class COM 81369Y886 169,544 3,739,385 SH SOLE 3,739,385 0 0
State Street Consumer Discretionary Select Sector SPDR ETF COM 81369Y407 251,157 2,141,512 SH SOLE 2,141,512 0 0
iShares MSCI South Africa ETF USD Class COM 464286780 5,120 81,024 SH SOLE 81,024 0 0
Franklin FTSE Canada ETF USD Class COM 35473P827 5,825 113,169 SH SOLE 113,169 0 0
iShares Core MSCI International Developed Markets ETF COM 46435G326 86,469 971,458 SH SOLE 971,458 0 0
iShares Core MSCI Emerging Markets ETF USD Class COM 46434G103 46,729 564,085 SH SOLE 564,085 0 0
iShares Latin America 40 ETF COM 464287390 23,152 685,980 SH SOLE 685,980 0 0
SPDR Portfolio Emerging Markets ETF USD Class COM 78463X509 16,510 318,850 SH SOLE 318,850 0 0
State Street SPDR Portfolio Europe ETF COM 78463X103 28,368 516,918 SH SOLE 516,918 0 0
Vanguard FTSE Pacific ETF COM 922042866 19,406 167,739 SH SOLE 167,739 0 0
Agilent Technologies Inc. COM 00846U101 1,181 8,888 SH SOLE 8,888 0 0
Alcoa Corporation COM 013872106 1,231 23,618 SH SOLE 23,618 0 0
AAON Inc. COM 000360206 5,462 43,054 SH SOLE 43,054 0 0
Analog Devices Inc. COM 032654105 2,254 5,676 SH SOLE 5,676 0 0
Autodesk Inc. COM 052769106 3,000 15,428 SH SOLE 15,428 0 0
Advanced Energy Industries Inc. COM 007973100 3,946 10,582 SH SOLE 10,582 0 0
Almonty Industries Inc. COM 020398707 1,320 79,736 SH SOLE 79,736 0 0
Advanced Micro Devices Inc. COM 007903107 5,639 9,708 SH SOLE 9,708 0 0
AeroVironment Inc. COM 008073108 1,066 6,457 SH SOLE 6,457 0 0
Axon Enterprise Inc. COM 05464C101 2,732 4,873 SH SOLE 4,873 0 0
BlackBerry Ltd. COM 09228F103 5,140 406,287 SH SOLE 406,287 0 0
Bentley Systems Inc. COM 08265T208 3,562 119,166 SH SOLE 119,166 0 0
BWX Technologies Inc. COM 05605H100 2,529 12,993 SH SOLE 12,993 0 0
CACI International Inc. COM 127190304 753 1,626 SH SOLE 1,626 0 0
CAE Inc. COM 124765108 773 30,854 SH SOLE 30,854 0 0
Constellation Energy Corporation COM 21037T109 1,926 7,753 SH SOLE 7,753 0 0
Century Aluminum Company COM 156431108 1,535 33,363 SH SOLE 33,363 0 0
Ciena Corporation COM 171779309 3,183 6,489 SH SOLE 6,489 0 0
Crane Company COM 224408104 1,983 8,888 SH SOLE 8,888 0 0
Crowdstrike Holdings Inc. COM 22788C105 6,236 8,172 SH SOLE 8,172 0 0
CSW Industrials Inc. COM 126402106 1,130 4,060 SH SOLE 4,060 0 0
Curtiss-Wright Corporation COM 231561101 1,844 2,434 SH SOLE 2,434 0 0
Doximity Inc. COM 26622P107 1,667 80,377 SH SOLE 80,377 0 0
Dexcom Inc. COM 252131107 1,197 17,776 SH SOLE 17,776 0 0
ERO Copper Corporation COM 296006109 2,330 87,098 SH SOLE 87,098 0 0
Element Solutions Inc. COM 28618M106 3,109 65,108 SH SOLE 65,108 0 0
Elbit Systems Ltd. COM M3760D101 1,234 1,626 SH SOLE 1,626 0 0
F5 Inc. COM 315616102 3,382 8,130 SH SOLE 8,130 0 0
Fabrinet COM G3323L100 1,817 3,232 SH SOLE 3,232 0 0
Fortinet Inc. COM 34959E109 5,620 36,585 SH SOLE 36,585 0 0
General Dynamics Corporation COM 369550108 862 2,434 SH SOLE 2,434 0 0
Gen Digital Inc. COM 668771108 2,500 100,449 SH SOLE 100,449 0 0
GE Vernova Inc. COM 36828A101 3,814 3,246 SH SOLE 3,246 0 0
Generac Holdings Inc. COM 368736104 4,052 13,838 SH SOLE 13,838 0 0
Garmin Ltd. COM H2906T109 1,349 5,681 SH SOLE 5,681 0 0
Haemonetics Corporation COM 405024100 2,182 29,088 SH SOLE 29,088 0 0
Hudbay Minerals Inc. COM 443628102 2,747 116,340 SH SOLE 116,340 0 0
Huntington Ingalls Industries Inc. COM 446413106 681 2,434 SH SOLE 2,434 0 0
Hinge Health Inc. COM 433313103 5,231 63,024 SH SOLE 63,024 0 0
IPG Photonics Corporation COM 44980X109 2,769 23,606 SH SOLE 23,606 0 0
Intuitive Surgical Inc. COM 46120E602 643 1,616 SH SOLE 1,616 0 0
ITT Inc. COM 45073V108 2,737 13,838 SH SOLE 13,838 0 0
Kadant Inc. COM 48282T104 2,039 6,488 SH SOLE 6,488 0 0
Keysight Technologies Inc. COM 49338L103 4,811 13,742 SH SOLE 13,742 0 0
Karman Holdings Inc. COM 485924104 1,135 22,734 SH SOLE 22,734 0 0
Kratos Defense & Security Solutions Inc. COM 50077B207 1,012 20,300 SH SOLE 20,300 0 0
Leidos Holdings Inc. COM 525327102 418 4,060 SH SOLE 4,060 0 0
Lumentum Holdings Inc. COM 55024U109 5,572 6,494 SH SOLE 6,494 0 0
Modine Manufacturing Company COM 607828100 3,690 13,820 SH SOLE 13,820 0 0
Moog Inc. COM 615394202 1,376 3,247 SH SOLE 3,247 0 0
Marvell Technology Inc. COM 573874104 4,092 13,736 SH SOLE 13,736 0 0
Mettler-Toledo International Inc. COM 592688105 1,039 813 SH SOLE 813 0 0
Micron Technology Inc. COM 595112103 13,360 11,574 SH SOLE 11,574 0 0
MYR Group Inc. COM 55405W104 3,666 7,326 SH SOLE 7,326 0 0
Cloudflare Inc. COM 18915M107 3,580 14,594 SH SOLE 14,594 0 0
Onto Innovation Inc. COM 683344105 3,669 9,696 SH SOLE 9,696 0 0
Palo Alto Networks Inc. COM 697435105 10,315 30,247 SH SOLE 30,247 0 0
Parker-Hannifin Corporation COM 701094104 784 802 SH SOLE 802 0 0
Insulet Corporation COM 45784P101 2,222 14,593 SH SOLE 14,593 0 0
Qnity Electronics Inc. COM 74743L100 2,124 13,008 SH SOLE 13,008 0 0
RBC Bearings Inc. COM 75524B104 3,146 4,884 SH SOLE 4,884 0 0
Rubrik Inc. COM 781154109 4,634 57,723 SH SOLE 57,723 0 0
Rockwell Automation Inc. COM 773903109 2,812 5,679 SH SOLE 5,679 0 0
Southern Copper Corporation COM 84265V105 1,867 10,714 SH SOLE 10,714 0 0
Sociedad Quimica y Minera de Chile S.A. COM 833635105 3,013 40,691 SH SOLE 40,691 0 0
Steel Dynamics Inc. COM 858119100 2,241 9,765 SH SOLE 9,765 0 0
Seagate Technology Holdings plc COM G7997R103 3,899 4,040 SH SOLE 4,040 0 0
Teck Resources Ltd. COM 878742204 1,790 30,099 SH SOLE 30,099 0 0
Teradyne Inc. COM 880770102 4,713 9,741 SH SOLE 9,741 0 0
Trimble Inc. COM 896239100 1,447 28,280 SH SOLE 28,280 0 0
Taiwan Semiconductor Manufacturing Company Ltd. COM 874039100 2,701 5,656 SH SOLE 5,656 0 0
Tyler Technologies Inc. COM 902252105 476 1,626 SH SOLE 1,626 0 0
USA Rare Earth Inc. COM 91733P107 1,860 86,178 SH SOLE 86,178 0 0
Energy Fuels Inc. COM 292671708 673 46,439 SH SOLE 46,439 0 0
Veracyte Inc. COM 92337F107 3,719 63,329 SH SOLE 63,329 0 0
Veeva Systems Inc. COM 922475108 1,725 9,721 SH SOLE 9,721 0 0
Viavi Solutions Inc. COM 925550105 3,165 66,292 SH SOLE 66,292 0 0
Vicor Corporation COM 925815102 8,965 23,606 SH SOLE 23,606 0 0
Varonis Systems Inc. COM 922280102 4,153 98,981 SH SOLE 98,981 0 0
Vertiv Holdings Company COM 92537N108 4,078 12,181 SH SOLE 12,181 0 0
Vistra Corporation COM 92840M102 2,962 18,674 SH SOLE 18,674 0 0
Waters Corporation COM 941848103 2,121 5,656 SH SOLE 5,656 0 0
Waystar Holding Corporation COM 946784105 746 36,360 SH SOLE 36,360 0 0
Western Digital Corporation COM 958102105 3,613 5,656 SH SOLE 5,656 0 0
Woodward Inc. COM 980745103 3,455 8,120 SH SOLE 8,120 0 0
Clear Secure Inc. COM 18467V109 5,518 99,011 SH SOLE 99,011 0 0
Zscaler Inc. COM 98980G102 1,088 7,711 SH SOLE 7,711 0 0