| # | Security | Value | Shares | % Port | Change | Δ Shares |
|---|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS S&P 500 ETF SHS | $273.6M | 457.9K | 16.4% | REDUCED | -194,357 |
| 2 | SELECT SECTOR SPDR TR STATE STREET TEC | $224.8M | 1.69M | 13.5% | ADDED | +27.8K |
| 3 | ISHARES TR 7-10 YR TRSY BD | $180.3M | 1.89M | 10.8% | REDUCED | -171,565 |
| 4 | SPDR SERIES TRUST BLOOMBERG INTL T | $155.6M | 7.09M | 9.3% | REDUCED | -343,968 |
| 5 | SCHWAB STRATEGIC TR US TIPS ETF | $150.3M | 5.65M | 9.0% | ADDED | +1.22M |
| 6 | ISHARES INC CORE MSCI EMKT | $121.0M | 1.73M | 7.3% | ADDED | +270.6K |
| 7 | SPDR GOLD TR GOLD SHS | $117.2M | 272.3K | 7.0% | ADDED | +30.4K |
| 8 | VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF | $116.2M | 840.0K | 7.0% | REDUCED | -757,003 |
| 9 | FIRST TR EXCHANGE-TRADED FD NO AMER ENERGY | $80.1M | 1.84M | 4.8% | ADDED | +1.28M |
| 10 | FIRST TR EXCHANGE-TRADED FD ENERGY INM PARTN | $76.2M | 2.37M | 4.6% | —HELD | 0 |
| 11 | ISHARES TR 10-20 YR TRS ETF | $55.9M | 555.3K | 3.4% | REDUCED | -161,783 |
| 12 | ISHARES TR 1 3 YR TREAS BD | $20.2M | 244.4K | 1.2% | ADDED | +168.9K |
| 13 | ISHARES TR CORE MSCI INTL | $15.3M | 182.6K | 0.9% | NEW | — |
| 14 | ISHARES TR CORE US AGGBD ET | $12.0M | 121.4K | 0.7% | REDUCED | -42,318 |
| 15 | ISHARES TR US TREAS BD ETF | $12.0M | 522.6K | 0.7% | REDUCED | -873 |
| 16 | SELECT SECTOR SPDR TR STATE STREET ENE | $11.5M | 187.0K | 0.7% | NEW | — |
| 17 | ISHARES TR PARIS ALIGNED CL | $9.0M | 135.3K | 0.5% | REDUCED | -151,235 |
| 18 | NUSHARES ETF TR NUVEEN ESG EMRGN | $8.8M | 240.0K | 0.5% | ADDED | +110.3K |
| 19 | VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT | $8.6M | 133.9K | 0.5% | REDUCED | -150,113 |
| 20 | VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF | $5.7M | 105.6K | 0.3% | —HELD | 0 |
| 21 | NUSHARES ETF TR NUVEEN ESG INTL | $5.6M | 154.8K | 0.3% | ADDED | +72.2K |
| 22 | ISHARES TR INTL TREA BD ETF | $3.9M | 95.3K | 0.2% | ADDED | +22.2K |
| 23 | SPDR SERIES TRUST BLOOMBERG INTL | $1.9M | 62.6K | 0.1% | ADDED | +4.5K |
| 24 | SPDR SERIES TRUST BLOOMBERG SHORT | $871K | 32.4K | 0.1% | ADDED | +2.1K |
| 25 | BLACK STONE MINERALS L P COM UNIT | $365K | 24.1K | 0.0% | —HELD | 0 |
Holdings data sourced from SEC EDGAR 13F-HR filings. Updated quarterly, approximately 45 days after quarter end. All data is public domain.
Last filed: May 15, 2026