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| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund | 
| Autozone Incorporated | 0 | 280 | 20.68 | 3.71 | 280 | 17.97 | 3.45 | 
| Volkswagen AG | -3,077 | 0 | 0.00 | 0.00 | 3,077 | 5.74 | 1.10 | 
| Auto Total | -3,077 | 280 | 20.68 | 3.71 | 3,357 | 23.71 | 4.55 | 
| Cash on call | 0 | 0 | 16.82 | 3.02 | 0 | 19.14 | 3.67 | 
| Margin Account | 0 | 0 | 1.86 | 0.33 | 0 | 2.12 | 0.41 | 
| Cash on call Total | 0 | 0 | 18.69 | 3.35 | 0 | 21.26 | 4.08 | 
| Newmont Mining Corp. (NMC) | 0 | 14,279 | 20.86 | 3.75 | 14,279 | 14.41 | 2.76 | 
| Construction Total | 0 | 14,279 | 20.86 | 3.75 | 14,279 | 14.41 | 2.76 | 
| Alibaba Group Holdings Limited | 0 | 4,907 | 15.26 | 2.74 | 4,907 | 10.13 | 1.94 | 
| Consumer Services Total | 0 | 4,907 | 15.26 | 2.74 | 4,907 | 10.13 | 1.94 | 
| Accenture Ltd | 0 | 2,051 | 8.76 | 1.57 | 2,051 | 10.77 | 2.07 | 
| Albemarle Corp. | 0 | 2,306 | 3.48 | 0.62 | 2,306 | 2.68 | 0.51 | 
| Alphabet Inc A | 0 | 3,201 | 13.50 | 2.42 | 3,201 | 10.16 | 1.95 | 
| Crocs Inc | 0 | 3,529 | 5.11 | 0.92 | 3,529 | 6.46 | 1.24 | 
| Deckers Outdoor Corporation | 5,402 | 5,402 | 9.64 | 1.73 | 0 | 0.00 | 0.00 | 
| NVR Incorporated | 0 | 92 | 12.87 | 2.31 | 92 | 12.06 | 2.31 | 
| Tencent Holdings Ltd | 0 | 12,000 | 17.67 | 3.17 | 12,000 | 13.67 | 2.62 | 
| Cyclical Goods & Services Total | 5,402 | 28,581 | 71.03 | 12.75 | 23,179 | 55.81 | 10.71 | 
| Gazprom OAO | 74,511 | 74,511 | 0.00 | 0.00 | 0 | 0.00 | 0.00 | 
| Energy Total | 74,511 | 74,511 | 0.00 | 0.00 | 0 | 0.00 | 0.00 | 
| Keyence Corporation | 104 | 104 | 0.00 | 0.00 | 0 | 0.00 | 0.00 | 
| Kla Tencor | 0 | 1,050 | 19.31 | 3.47 | 1,050 | 16.61 | 3.19 | 
| SPDR Gold Trust ETF | 0 | 5,609 | 34.17 | 6.13 | 5,609 | 30.04 | 5.76 | 
| Equities Total | 104 | 6,763 | 53.48 | 9.60 | 6,659 | 46.65 | 8.95 | 
| Blackrock Inc | 0 | 976 | 19.83 | 3.56 | 976 | 18.18 | 3.49 | 
| Blackstone Group LP | 0 | 5,799 | 17.65 | 3.17 | 5,799 | 15.58 | 2.99 | 
| Mastercard Inc | 0 | 1,740 | 17.08 | 3.07 | 1,740 | 17.02 | 3.27 | 
| PayPal Holdings Inc | -7,585 | 0 | 0.00 | 0.00 | 7,585 | 9.93 | 1.91 | 
| Financial Services Total | -7,585 | 8,515 | 54.57 | 9.80 | 16,100 | 60.72 | 11.65 | 
| Domino' S Pizza, Inc | 0 | 1,206 | 9.05 | 1.63 | 1,206 | 9.57 | 1.84 | 
| Starbucks Corp | 0 | 6,414 | 9.49 | 1.70 | 6,414 | 10.50 | 2.02 | 
| Food & Beverage Total | 0 | 7,620 | 18.55 | 3.33 | 7,620 | 20.08 | 3.85 | 
| Canada - Currency | 0 | 0 | 14.94 | 2.68 | 0 | 0.00 | 0.00 | 
| Denmark - Currency | 0 | 0 | 0.04 | 0.01 | 0 | 0.04 | 0.01 | 
| European - Currency | 0 | 0 | 3.06 | 0.55 | 0 | 3.38 | 0.65 | 
| Hong Kong - Currency | 0 | 0 | 0.58 | 0.10 | 0 | 0.59 | 0.11 | 
| Japan - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 | 
| Switzerland - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 | 
| United Kingdom - Currency | 0 | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 | 
| USA - Currency | 0 | 0 | 2.97 | 0.53 | 0 | 37.04 | 7.11 | 
| For Currency Total | 0 | 0 | 21.60 | 3.88 | 0 | 41.06 | 7.88 | 
| AbbVie Inc | 0 | 4,804 | 18.53 | 3.33 | 4,804 | 15.57 | 2.99 | 
| Novo-Nordisk A/S | 10,743 | 10,743 | 10.06 | 1.81 | 0 | 0.00 | 0.00 | 
| Resmed Inc | 0 | 3,183 | 14.91 | 2.68 | 3,183 | 14.44 | 2.77 | 
| Ulta Beauty Inc | 0 | 1,502 | 14.37 | 2.58 | 1,502 | 12.24 | 2.35 | 
| United Health Group | 0 | 1,459 | 8.70 | 1.56 | 1,459 | 8.02 | 1.54 | 
| Healthcare Total | 10,743 | 21,691 | 66.58 | 11.95 | 10,948 | 50.27 | 9.64 | 
| Hulamin Ltd. | 0 | 2,662,463 | 7.03 | 1.26 | 2,662,463 | 5.86 | 1.12 | 
| Koryx Copper Inc. | 100,000 | 100,000 | 1.49 | 0.27 | 0 | 0.00 | 0.00 | 
| Industrial Metals and Mining Total | 100,000 | 2,762,463 | 8.52 | 1.53 | 2,662,463 | 5.86 | 1.12 | 
| Berkshire Hathaway Inc | 0 | 2,064 | 17.81 | 3.20 | 2,064 | 17.82 | 3.42 | 
| Insurance Total | 0 | 2,064 | 17.81 | 3.20 | 2,064 | 17.82 | 3.42 | 
| BCI Money Market - B | 8,812 | 469,824 | 0.47 | 0.08 | 461,012 | 0.46 | 0.09 | 
| Money Market Total | 8,812 | 469,824 | 0.47 | 0.08 | 461,012 | 0.46 | 0.09 | 
| Boxer Retail Ltd. | 580 | 83,890 | 5.74 | 1.03 | 83,310 | 5.73 | 1.10 | 
| Personal Care, Drug and Grocery Stores Total | 580 | 83,890 | 5.74 | 1.03 | 83,310 | 5.73 | 1.10 | 
| Home Depot Incorporated | 0 | 2,129 | 14.97 | 2.69 | 2,129 | 13.96 | 2.68 | 
| Retail Total | 0 | 2,129 | 14.97 | 2.69 | 2,129 | 13.96 | 2.68 | 
| Adobe Systems | 1,818 | 1,818 | 11.29 | 2.03 | 0 | 0.00 | 0.00 | 
| Amazon.Com | 0 | 2,847 | 10.93 | 1.96 | 2,847 | 11.30 | 2.17 | 
| Broadcom Corporation | -1,040 | 4,740 | 26.86 | 4.82 | 5,780 | 27.68 | 5.31 | 
| Meta Platforms Inc | 0 | 1,687 | 21.67 | 3.89 | 1,687 | 22.00 | 4.22 | 
| Microsoft Corporation | 0 | 2,110 | 18.77 | 3.37 | 2,110 | 18.60 | 3.57 | 
| Salesforce.com Inc | 1,251 | 1,251 | 5.30 | 0.95 | 0 | 0.00 | 0.00 | 
| ServiceNow Inc | 0 | 1,140 | 18.54 | 3.33 | 1,140 | 20.72 | 3.98 | 
| SSC Technologies | 0 | 11,393 | 17.35 | 3.12 | 11,393 | 16.58 | 3.18 | 
| Technology Total | 2,029 | 26,986 | 130.71 | 23.47 | 24,957 | 116.89 | 22.43 | 
| British American Tobacco plc | 0 | 19,190 | 17.48 | 3.14 | 19,190 | 16.40 | 3.15 | 
| Tobacco Total | 0 | 19,190 | 17.48 | 3.14 | 19,190 | 16.40 | 3.15 | 
| Portfolio Total | 191,519 | 3,533,693 | 556.98 | 100.00 | 3,342,174 | 521.22 | 100.00 |