Q2 2025 · 13F-HR
LEUTHOLD GROUP, LLCholdings as filed
Filed 2025-08-13 · accession 0000897069-25-001316
$837.0M
Reported value
206
Positions
2025-06-30
Period end
The Brief · LEUTHOLD GROUP, LLC · Q2 2025
AI · grounded in 13F
LEUTHOLD GROUP, LLC established a new position in MSFT valued at $25.0M. The fund also initiated new stakes in META for $21.8M and BWX for $19.7M. Additional new positions include NFLX at $19.3M and SPDN at $17.8M. Total assets under management stand at $837.0M across 206 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | Microsoft Corp. | $25.0M | 2.99% | 50,269 | Common | SOLE |
| 30303M102 | META | Meta Platforms Inc. Class A | $21.8M | 2.61% | 29,556 | Common | SOLE |
| 78464A516 | BWX | SPDR Bloomberg Barclays Intern | $19.7M | 2.35% | 839,145 | Common | SOLE |
| 64110L106 | NFLX | Netflix Inc. | $19.3M | 2.31% | 14,441 | Common | SOLE |
| 25460E869 | SPDN | Direxion Daily S&P500 Bear 1X | $17.8M | 2.13% | 1,731,569 | Common | SOLE |
| 68389X105 | ORCL | Oracle Corp. | $14.7M | 1.76% | 67,388 | Common | SOLE |
| 464287457 | SHY | iShares 1-3 Year Treasury Bond | $13.7M | 1.64% | 165,772 | Common | SOLE |
| 466313103 | JBL | Jabil Inc. | $13.1M | 1.56% | 59,900 | Common | SOLE |
| 78464A375 | SPIB | SPDR Intermediate Term Corpora | $13.0M | 1.56% | 388,529 | Common | SOLE |
| 464288117 | IGOV | iShares International Treasury | $12.5M | 1.49% | 289,269 | Common | SOLE |
| 38141G104 | GS | Goldman Sachs Group Inc. | $12.3M | 1.47% | 17,385 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc. Cl A | $11.9M | 1.42% | 67,493 | Common | SOLE |
| 58155Q103 | MCK | McKesson Corp. | $11.3M | 1.35% | 15,453 | Common | SOLE |
| 74348A210 | RWM | ProShares Short Russell2000 | $11.2M | 1.34% | 595,073 | Common | SOLE |
| 922020805 | VTIP | Vanguard Short-Term Inflation- | $10.7M | 1.28% | 213,388 | Common | SOLE |
| 81369Y605 | XLF | Financial Select Sector SPDR F | $10.3M | 1.23% | 196,446 | Common | SOLE |
| 14149Y108 | CAH | Cardinal Health Inc. | $10.3M | 1.23% | 61,036 | Common | SOLE |
| Y2573F102 | FLEX | Flex Ltd. | $9.9M | 1.18% | 197,916 | Common | SOLE |
| 81369Y803 | XLK | Technology Select Sector SPDR | $9.8M | 1.18% | 38,893 | Common | SOLE |
| 911363109 | URI | United Rentals Inc. | $9.7M | 1.16% | 12,883 | Common | SOLE |
| 617446448 | MS | Morgan Stanley | $9.5M | 1.14% | 67,646 | Common | SOLE |
| 496902404 | KGC | Kinross Gold Corporation | $9.4M | 1.13% | 604,396 | Common | SOLE |
| 745867101 | PHM | PulteGroup Inc. | $9.4M | 1.12% | 89,268 | Common | SOLE |
| 872590104 | TMUS | T-Mobile US Inc | $9.4M | 1.12% | 39,491 | Common | SOLE |
| 464287200 | IVV | iShares S&P 500 Fund | $9.1M | 1.09% | 14,658 | Common | SOLE |
| 81369Y852 | XLC | Communication Services Select | $9.0M | 1.08% | 83,162 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co. | $9.0M | 1.07% | 30,882 | Common | SOLE |
| 03073E105 | COR | Cencora Inc. | $9.0M | 1.07% | 29,858 | Common | SOLE |
| 46138W107 | FXY | Invesco CurrencyShares Japanes | $8.6M | 1.03% | 134,551 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems Inc. | $8.6M | 1.02% | 123,562 | Common | SOLE |
| 57636Q104 | MA | Mastercard Inc. Cl A | $8.5M | 1.01% | 15,102 | Common | SOLE |
| 78464A151 | IBND | SPDR Barclays International Co | $8.4M | 1.00% | 256,592 | Common | SOLE |
| 464287440 | IEF | iShares 7-10 Year Treasury Bon | $7.7M | 0.92% | 80,222 | Common | SOLE |
| 464288638 | IGIB | iShares 5-10yr Investment Grad | $7.6M | 0.91% | 143,077 | Common | SOLE |
| 23331A109 | DHI | D.R. Horton Inc. | $7.6M | 0.91% | 58,938 | Common | SOLE |
| 060505104 | BAC | Bank of America Corp. | $7.4M | 0.88% | 156,268 | Common | SOLE |
| D18190898 | DB | Deutsche Bank AG | $7.4M | 0.88% | 252,216 | Common | SOLE |
| 92826C839 | V | Visa Inc. | $7.1M | 0.85% | 20,066 | Common | SOLE |
| M22465104 | CHKP | Check Point Software Technolog | $7.1M | 0.85% | 32,088 | Common | SOLE |
| 172967424 | C | Citigroup Inc. | $6.8M | 0.82% | 80,148 | Common | SOLE |
| 00206R102 | T | AT&T Inc. | $6.8M | 0.81% | 235,452 | Common | SOLE |
| 46432F842 | IEFA | iShares Core MSCI EAFE ETF | $6.6M | 0.79% | 78,957 | Common | SOLE |
| G87052109 | TEL | TE Connectivity Ltd. | $6.5M | 0.78% | 38,812 | Common | SOLE |
| 34959E109 | FTNT | Fortinet Inc. | $6.5M | 0.78% | 61,736 | Common | SOLE |
| 254687106 | DIS | Walt Disney Co. | $6.4M | 0.77% | 51,931 | Common | SOLE |
| 464288588 | MBB | iShares MBS ETF | $6.3M | 0.75% | 66,832 | Common | SOLE |
| 889478103 | TOL | Toll Brothers Inc. | $6.2M | 0.74% | 54,139 | Common | SOLE |
| 00737L103 | CVSA | Adtalem Global Education Inc. | $6.2M | 0.74% | 48,488 | Common | SOLE |
| 450913108 | IAG | Iamgold Corporation | $6.0M | 0.72% | 818,737 | Common | SOLE |
| 40412C101 | HCA | HCA Healthcare Inc | $6.0M | 0.71% | 15,606 | Common | SOLE |
| 136069101 | CM | Canadian Imperial Bank of Comm | $5.9M | 0.71% | 83,376 | Common | SOLE |
| 06738E204 | BCS | Barclays PLC ADR | $5.9M | 0.70% | 317,243 | Common | SOLE |
| 90353T100 | UBER | Uber Technologies, Inc. | $5.7M | 0.68% | 61,335 | Common | SOLE |
| 92343E102 | VRSN | VeriSign Inc. | $5.7M | 0.68% | 19,734 | Common | SOLE |
| 008474108 | AEM | Agnico-Eagle Mines Ltd. | $5.6M | 0.67% | 46,805 | Common | SOLE |
| 654902204 | NOK | Nokia Corp. (ADR) | $5.4M | 0.65% | 1,048,613 | Common | SOLE |
| 315616102 | FFIV | F5 Networks Inc. | $5.4M | 0.65% | 18,413 | Common | SOLE |
| 86333M108 | LRN | Stride, Inc. | $5.4M | 0.64% | 36,993 | Common | SOLE |
| 294821608 | ERIC | Telefonaktiebolaget LM Ericsso | $5.1M | 0.61% | 602,678 | Common | SOLE |
| 88033G407 | THC | Tenet Healthcare Corporation | $5.1M | 0.61% | 28,857 | Common | SOLE |
| 82889N525 | MTBA | Simplify MBS ETF | $5.0M | 0.60% | 99,986 | Common | SOLE |
| 518613203 | LAUR | Laureate Education Inc | $5.0M | 0.59% | 212,592 | Common | SOLE |
| 46138K103 | FXE | Invesco CurrencyShares Euro Tr | $4.9M | 0.58% | 44,735 | Common | SOLE |
| 464287226 | AGG | iShares Core Total U.S. Bond M | $4.7M | 0.57% | 47,795 | Common | SOLE |
| 913915104 | UTI | Universal Technical Institute | $4.6M | 0.55% | 136,521 | Common | SOLE |
| 90138F102 | TWLO | Twilio, Inc | $4.6M | 0.54% | 36,638 | Common | SOLE |
| 416515104 | HIG | Hartford Insurance Group Inc. | $4.4M | 0.53% | 35,010 | Common | SOLE |
| 141788109 | CARG | CarGurus, Inc. Class A | $4.4M | 0.53% | 131,549 | Common | SOLE |
| 92206C714 | VONV | Vanguard Russell 1000 Value ET | $4.3M | 0.52% | 50,846 | Common | SOLE |
| 693475105 | PNC | PNC Financial Services Group I | $4.3M | 0.52% | 23,140 | Common | SOLE |
| 89417E109 | TRV | Travelers Companies, Inc. | $4.3M | 0.51% | 15,907 | Common | SOLE |
| 902973304 | USB | U.S. Bancorp | $4.1M | 0.49% | 91,347 | Common | SOLE |
| 74349Y837 | PSQ | ProShares Short QQQ | $4.1M | 0.49% | 122,369 | Common | SOLE |
| 754730109 | RJF | Raymond James Financial Inc | $4.1M | 0.49% | 26,616 | Common | SOLE |
| 78467J100 | SSNC | SS&C Technologies Holdings, In | $4.0M | 0.47% | 48,012 | Common | SOLE |
| 380237107 | GDDY | GoDaddy, Inc. Class A | $3.9M | 0.47% | 21,899 | Common | SOLE |
| 35905A109 | FTDR | Frontdoor, Inc. | $3.9M | 0.46% | 65,531 | Common | SOLE |
| 020002101 | ALL | Allstate Corp. | $3.8M | 0.46% | 19,089 | Common | SOLE |
| 902681105 | UGI | UGI Corp. | $3.8M | 0.46% | 105,215 | Common | SOLE |
| 20030N101 | CMCSA | Comcast Corp. (Cl A) | $3.8M | 0.45% | 106,225 | Common | SOLE |
| 267475101 | DY | Dycom Industries Inc | $3.8M | 0.45% | 15,393 | Common | SOLE |
| 29261A100 | EHC | Encompass Health Corporation | $3.7M | 0.44% | 30,016 | Common | SOLE |
| 570535104 | MKL | Markel Group Inc. | $3.6M | 0.43% | 1,810 | Common | SOLE |
| 801056102 | SANM | Sanmina Corporation | $3.5M | 0.42% | 36,208 | Common | SOLE |
| 697900108 | PAAS | Pan American Silver Corp. | $3.5M | 0.42% | 123,572 | Common | SOLE |
| 86272C103 | STRA | Strategic Education, Inc. | $3.5M | 0.42% | 41,196 | Common | SOLE |
| 00971T101 | AKAM | Akamai Technologies Inc. | $3.5M | 0.42% | 43,777 | Common | SOLE |
| 284902509 | EGO | Eldorado Gold Corp. | $3.5M | 0.42% | 171,214 | Common | SOLE |
| 70450Y103 | PYPL | PayPal Holdings, Inc. | $3.4M | 0.41% | 45,786 | Common | SOLE |
| 729132100 | PLXS | Plexus Corp. | $3.4M | 0.41% | 25,081 | Common | SOLE |
| 552690109 | MDU | MDU Resources Group, Inc. | $3.4M | 0.40% | 202,649 | Common | SOLE |
| V7780T103 | RCL | Royal Caribbean Cruises Ltd | $3.4M | 0.40% | 10,775 | Common | SOLE |
| 928254101 | VIRT | Virtu Financial, Inc. Class A | $3.4M | 0.40% | 74,840 | Common | SOLE |
| 74758T303 | QLYS | Qualys, Inc. | $3.3M | 0.40% | 23,410 | Common | SOLE |
| 04621X108 | AIZ | Assurant Inc. | $3.3M | 0.40% | 16,780 | Common | SOLE |
| 913903100 | UHS | Universal Health Services Inc. | $3.3M | 0.39% | 18,069 | Common | SOLE |
| G0450A105 | ACGL | Arch Capital Group Ltd. | $3.2M | 0.38% | 35,164 | Common | SOLE |
| 679295105 | OKTA | Okta, Inc. Class A | $3.2M | 0.38% | 31,697 | Common | SOLE |
| 143658300 | CCL1EUR | Carnival Corp. | $3.1M | 0.37% | 111,327 | Common | SOLE |
| 646025106 | NJR | New Jersey Resources Corp. | $3.1M | 0.37% | 69,635 | Common | SOLE |
| 00090Q103 | ADT | ADT, Inc. | $3.1M | 0.37% | 365,317 | Common | SOLE |
| 68235P108 | OGS | ONE Gas Inc. | $3.1M | 0.36% | 42,499 | Common | SOLE |
| 20602D101 | CNXC | Concentrix Corporation | $3.0M | 0.36% | 57,604 | Common | SOLE |
| 84857L101 | SR | Spire Inc. | $3.0M | 0.36% | 41,490 | Common | SOLE |
| 53190C102 | LTH | Life Time Group Holdings, Inc. | $3.0M | 0.36% | 98,855 | Common | SOLE |
| 16119P108 | CHTR | Charter Communications Inc. Cl | $2.9M | 0.35% | 7,162 | Common | SOLE |
| 125523100 | CI | Cigna Corporation | $2.9M | 0.35% | 8,843 | Common | SOLE |
| 81369Y209 | XLV | Health Care Select Sector SPDR | $2.9M | 0.35% | 21,569 | Common | SOLE |
| 29446Y502 | EQX | Equinox Gold Corp. | $2.9M | 0.35% | 505,518 | Common | SOLE |
| 126349109 | CSN | CSG Systems International Inc. | $2.8M | 0.34% | 43,593 | Common | SOLE |
| 126650100 | CVS | CVS Health Corp. | $2.8M | 0.34% | 41,140 | Common | SOLE |
| 92343V104 | VZ | Verizon Communications Inc. | $2.8M | 0.34% | 65,523 | Common | SOLE |
| 536797103 | LAD | Lithia Motors Inc. | $2.8M | 0.33% | 8,260 | Common | SOLE |
| 30212P303 | EXPE | Expedia Group, Inc. | $2.7M | 0.33% | 16,233 | Common | SOLE |
| 894164102 | TNL | Travel Leisure Co. | $2.7M | 0.33% | 52,913 | Common | SOLE |
| 043436104 | ABG | Asbury Automotive Group Inc. | $2.7M | 0.32% | 11,395 | Common | SOLE |
| 577933104 | MMS | Maximus Inc. | $2.7M | 0.32% | 38,595 | Common | SOLE |
| G98196101 | W9N0 | WNS (Holdings) Limited Sponsor | $2.6M | 0.31% | 41,644 | Common | SOLE |
| 81282V100 | PRKS | United Parks & Resorts, Inc. | $2.6M | 0.30% | 54,083 | Common | SOLE |
| 448579102 | H | Hyatt Hotels Corp. | $2.5M | 0.30% | 18,108 | Common | SOLE |
| 410867105 | THG | The Hanover Insurance Group In | $2.3M | 0.28% | 13,751 | Common | SOLE |
| 464287515 | IGV | iShares Expanded Tech-Software | $2.3M | 0.27% | 20,826 | Common | SOLE |
| 92189F106 | GDX | VanEck Gold Miners ETF | $2.3M | 0.27% | 43,460 | Common | SOLE |
| 81369Y886 | XLU | Utilities Select Sector SPDR F | $2.2M | 0.27% | 27,526 | Common | SOLE |
| G66721104 | NCLH | Norwegian Cruise Line Holdings | $2.2M | 0.26% | 107,021 | Common | SOLE |
| 488401100 | KMPR | Kemper Corporation | $2.1M | 0.25% | 32,840 | Common | SOLE |
| 25402D102 | DOCN | DigitalOcean Holdings, Inc. | $2.1M | 0.25% | 73,477 | Common | SOLE |
| G9618E107 | WTM | White Mountains Insurance Grou | $2.1M | 0.25% | 1,165 | Common | SOLE |
| 46434G764 | EMXC | iShares MSCI Emerging Markets | $2.1M | 0.25% | 33,050 | Common | SOLE |
| M98068105 | WIX | Wix.com Ltd. | $1.9M | 0.23% | 11,951 | Common | SOLE |
| 08160H101 | BHE | Benchmark Electronics Inc. | $1.8M | 0.21% | 45,097 | Common | SOLE |
| 126501105 | CTS | CTS Corp | $1.7M | 0.21% | 40,404 | Common | SOLE |
| 253798102 | DGII | Digi International Inc. | $1.7M | 0.20% | 48,798 | Common | SOLE |
| 92206C409 | VCSH | Vanguard Short-Term Corporate | $1.5M | 0.18% | 18,513 | Common | SOLE |
| 464288828 | IHF | iShares U.S. Healthcare Provid | $1.4M | 0.17% | 28,860 | Common | SOLE |
| 46137V381 | RSPD | Invesco S&P 500 Equal Weight C | $1.3M | 0.15% | 23,805 | Common | SOLE |
| 464287713 | IYZ | iShares U.S. Telecommunication | $1.3M | 0.15% | 42,014 | Common | SOLE |
| 26922A842 | JETS | U.S. Global Jets ETF | $1.2M | 0.15% | 53,461 | Common | SOLE |
| 92206C102 | VGSH | Vanguard Short-Term Treasury E | $1.0M | 0.12% | 17,786 | Common | SOLE |
| 81369Y704 | XLI | Industrial Select Sector SPDR | $997,235 | 0.12% | 6,760 | Common | SOLE |
| 464288786 | IAK | iShares U.S. Insurance ETF | $982,634 | 0.12% | 7,308 | Common | SOLE |
| 56167R705 | LST | Leuthold Select Industries ET | $862,635 | 0.10% | 23,464 | Common | SOLE |
| 46429B291 | QLTA | iShares Aaa-A Rated Corporate | $807,635 | 0.10% | 16,882 | Common | SOLE |
| 003261104 | BCI | Aberdeen Standard Bloomberg Al | $760,369 | 0.09% | 36,609 | Common | SOLE |
| 46138E628 | KBWB | Invesco KBW Bank ETF | $659,620 | 0.08% | 9,210 | Common | SOLE |
| G3223R108 | EG | Everest Group Ltd. | $639,938 | 0.08% | 1,883 | Common | SOLE |
| 78464A771 | KCE | SPDR S&P Capital Markets ETF | $637,982 | 0.08% | 4,402 | Common | SOLE |
| 47103U845 | JAAA | Janus Detroit Street Trust Jan | $635,187 | 0.08% | 12,516 | Common | SOLE |
| 05964H105 | SAN | Banco Santander S.A. ADR | $571,870 | 0.07% | 68,900 | Common | SOLE |
| 79466L302 | CRM | Salesforce.com Inc. | $549,743 | 0.07% | 2,016 | Common | SOLE |
| 278642103 | EBAY | eBay Inc. | $548,845 | 0.07% | 7,371 | Common | SOLE |
| 71363P106 | PRDO | Perdoceo Education Corporation | $545,596 | 0.07% | 16,690 | Common | SOLE |
| 384637104 | GHC | Graham Holdings Co. | $509,986 | 0.06% | 539 | Common | SOLE |
| 601137102 | MRP | Millrose Properties Inc | $501,234 | 0.06% | 17,581 | Common | SOLE |
| 92857W308 | VOD | Vodafone Group PLC ADS | $498,558 | 0.06% | 46,769 | Common | SOLE |
| G0692U109 | AXS | Axis Capital Holdings Ltd | $478,506 | 0.06% | 4,609 | Common | SOLE |
| 97717X511 | AGGY | WisdomTree Yield Enhanced U.S. | $476,963 | 0.06% | 10,932 | Common | SOLE |
| 45867G101 | IDCC | InterDigital Inc. | $464,380 | 0.06% | 2,071 | Common | SOLE |
| 60687Y109 | MFG | Mizuho Financial Group Inc. AD | $456,131 | 0.05% | 82,038 | Common | SOLE |
| 680223104 | ORI | Old Republic International Cor | $453,630 | 0.05% | 11,801 | Common | SOLE |
| 871607107 | SNPS | Synopsys Inc | $451,158 | 0.05% | 880 | Common | SOLE |
| 46137V720 | PEJ | Invesco Leisure and Entertainm | $446,437 | 0.05% | 7,846 | Common | SOLE |
| 464287242 | LQD | iShares iBoxx $ Investment Gra | $445,345 | 0.05% | 4,063 | Common | SOLE |
| 26210C104 | DBX | Dropbox, Inc. Class A | $443,672 | 0.05% | 15,513 | Common | SOLE |
| 247361702 | DAL | Delta Air Lines Inc. | $441,095 | 0.05% | 8,969 | Common | SOLE |
| 88706T108 | TIMB | TIM S.A. Sponsored ADR | $420,359 | 0.05% | 20,903 | Common | SOLE |
| H42097107 | UBS | UBS Group AG (new) | $416,764 | 0.05% | 12,323 | Common | SOLE |
| 98980L101 | ZNGA | Zoom Communications, Inc. Clas | $415,477 | 0.05% | 5,328 | Common | SOLE |
| 37045V100 | GM | General Motors Co. | $415,136 | 0.05% | 8,436 | Common | SOLE |
| 46429B697 | USMV | iShares Edge MSCI Min Vol USA | $411,338 | 0.05% | 4,382 | Common | SOLE |
| 18467V109 | YOU | Clear Secure, Inc. Class A | $408,155 | 0.05% | 14,703 | Common | SOLE |
| 256163106 | DOCU | DocuSign, Inc. | $404,093 | 0.05% | 5,188 | Common | SOLE |
| 45841N107 | IBKR | Interactive Brokers Group Inc. | $393,411 | 0.05% | 7,100 | Common | SOLE |
| 559222401 | MGA | Magna International Inc. | $387,722 | 0.05% | 10,042 | Common | SOLE |
| 803054204 | SAP | SAP SE Sponsored ADR | $379,517 | 0.05% | 1,248 | Common | SOLE |
| 78440P306 | SKM | SK Telecom Co. Ltd. ADS | $369,560 | 0.04% | 15,827 | Common | SOLE |
| 093671105 | HRB | H&R Block, Inc. | $368,751 | 0.04% | 6,718 | Common | SOLE |
| 89151E109 | TTEN | TotalEnergies SE Sponsored ADR | $367,235 | 0.04% | 5,982 | Common | SOLE |
| 540424108 | L | Loews Corp. | $366,457 | 0.04% | 3,998 | Common | SOLE |
| 166764100 | CVX | Chevron Corp. | $366,423 | 0.04% | 2,559 | Common | SOLE |
| 867224107 | SU | Suncor Energy Inc. | $361,505 | 0.04% | 9,653 | Common | SOLE |
| 40051E202 | ASR | Grupo Aeroportuario del Surest | $356,178 | 0.04% | 1,117 | Common | SOLE |
| 949746101 | WMT2 | Wells Fargo & Co. | $347,240 | 0.04% | 4,334 | Common | SOLE |
| 464287804 | IJR | iShares S&P Small Cap 600 Inde | $345,356 | 0.04% | 3,160 | Common | SOLE |
| 052800109 | ALV | Autoliv Inc. | $333,014 | 0.04% | 2,976 | Common | SOLE |
| P31076105 | CPA | Copa Holdings S.A. Cl A | $332,439 | 0.04% | 3,023 | Common | SOLE |
| 004498101 | ACIW | ACI Worldwide Inc | $327,063 | 0.04% | 7,124 | Common | SOLE |
| 55261F104 | MTB | M&T Bank Corp. | $286,717 | 0.03% | 1,478 | Common | SOLE |
| 254067101 | DDS | Dillard's Inc. Cl A | $283,707 | 0.03% | 679 | Common | SOLE |
| 680033107 | ONB | Old National Bancorp | $264,957 | 0.03% | 12,416 | Common | SOLE |
| 74164F103 | PRIM | Primoris Services Corporation | $263,048 | 0.03% | 3,375 | Common | SOLE |
| 200340107 | CMA | Comerica Inc. | $261,565 | 0.03% | 4,385 | Common | SOLE |
| 68373M107 | OPRA | Opera Limited Sponsored ADR | $261,104 | 0.03% | 13,815 | Common | SOLE |
| 521865204 | LEA | Lear Corp. | $256,541 | 0.03% | 2,701 | Common | SOLE |
| 29446M102 | EQNR | Equinor ASA Sponsored ADR | $244,461 | 0.03% | 9,724 | Common | SOLE |
| 15135U109 | CVE | Cenovus Energy Inc. | $243,984 | 0.03% | 17,940 | Common | SOLE |
| H1467J104 | CB | Chubb Limited | $237,281 | 0.03% | 819 | Common | SOLE |
| 808524797 | SCHD | Schwab US Dividend Equity ETF | $233,916 | 0.03% | 8,827 | Common | SOLE |
| 279158109 | EC | Ecopetrol SA Sponsored ADR | $230,728 | 0.03% | 26,071 | Common | SOLE |
| 984245100 | YPF | YPF SA Sponsored ADR Class D | $228,516 | 0.03% | 7,266 | Common | SOLE |
| 46432F339 | QUAL | iShares Edge MSCI USA Quality | $221,029 | 0.03% | 1,209 | Common | SOLE |
| 464288257 | ACWI | iShares MSCI ACWI ETF | $220,678 | 0.03% | 1,716 | Common | SOLE |
| 920253101 | VMI | Valmont Industries Inc. | $219,782 | 0.03% | 673 | Common | SOLE |
| 808524755 | FNDF | Schwab Fundamental Internation | $208,744 | 0.02% | 5,216 | Common | SOLE |
| M9T951109 | ZIM | ZIM Integrated Shipping Servic | $205,421 | 0.02% | 12,767 | Common | SOLE |
| 57686G105 | MATX | Matson, Inc. | $200,207 | 0.02% | 1,798 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.