PNAA

Pictet North America Advisors Portfolio holdings

AUM $996M

This Quarter Return

+2.32%

1 Year Return

+17.28%

3 Year Return

+67.67%

5 Year Return

+94.58%

10 Year Return

+216.28%

AUM

$1B

AUM Growth

-$51.3M (-5%)

Cap. Flow

-$61M

Cap. Flow % of AUM

-6.1%

Top 10 Holdings %Top 10 Hldgs %

39.52%

Holding

151

New

Increased

Reduced

Closed

Top Buys

1	Janus Henderson AAA CLO ETF JAAA	$29.1M
2	Janus Henderson B-BBB CLO ETF JBBB	$13.1M
3	Canadian Pacific Kansas City CP	$11.5M
4	Harbor Scientific Alpha High-Yield ETF SIHY	$7.89M
5	iShares China Large-Cap ETF FXI	$6.64M

Top Sells

1	iShares MSCI Japan ETF EWJ	$22.1M
2	iShares MSCI France ETF EWQ	$12.7M
3	PIMCO Multi Sector Bond Active ETF PYLD	$11.6M
4	Vanguard Intermediate-Term Treasury ETF VGIT	$11.4M
5	TSMC TSM	$10.7M

Sector Composition

1	Financials	21.73%
2	Technology	14.94%
3	Consumer Discretionary	9.36%
4	Healthcare	6.78%
5	Industrials	5.65%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 Burford Capital BUR $3.01B	$101M	10.08%	7,647,727	–	–
2	2 SPDR Gold Trust GLD $102B	$39.1M	3.9%	136,175 +9,651	+8%	+$2.77M
3	3 iShares MSCI Japan ETF EWJ $15.7B	$38.5M	3.85%	561,455 -322,906	-37%	-$22.1M
4	4 Harbor Scientific Alpha High-Yield ETF SIHY $155M	$36.8M	3.68%	824,365 +176,645	+27%	+$7.89M
5	5 Microsoft MSFT $3.82T	$34.3M	3.42%	91,664 -928	-1%	-$347K
6	6 Sony SONY $149B	$33.4M	3.34%	1,315,537 +258,133	+24%	+$6.55M
7	7 Amazon AMZN $2.46T	$29.5M	2.94%	154,856 -2,472	-2%	-$470K
8	8 Janus Henderson AAA CLO ETF JAAA $22.8B	$29.1M	2.9%	+573,255	New	+$29.1M
9	9 Yum China YUMC $17.7B	$27.5M	2.75%	530,152 -17,478	-3%	-$906K
10	10 TSMC TSM $1.27T	$26.6M	2.65%	159,969 -64,203	-29%	-$10.7M
11	11 Canadian Pacific Kansas City CP $71.6B	$24.5M	2.45%	349,537 +164,010	+88%	+$11.5M
12	12 Alphabet (Google) Class A GOOGL $2.34T	$23.8M	2.38%	154,219 -1,123	-0.7%	-$174K
13	13 Alcon ALC $45.4B	$23.1M	2.31%	245,480 +8,075	+3%	+$760K
14	14 Visa V $697B	$22.5M	2.25%	64,142 +1,459	+2%	+$511K
15	15 iShares Convertible Bond ETF ICVT $2.77B	$21.4M	2.14%	255,794 +26,494	+12%	+$2.22M
16	16 Meta Platforms (Facebook) META $1.79T	$21.1M	2.11%	36,643 +1,086	+3%	+$626K
17	17 JPMorgan Chase JPM $821B	$19M	1.9%	77,421 +3,286	+4%	+$806K
18	18 Berkshire Hathaway Class B BRK.B $1.04T	$18.3M	1.83%	34,353 +1,775	+5%	+$945K
19	19 First Trust RBA American Industrial Renaissance ETF AIRR $4.52B	$17.3M	1.73%	253,251 -7,169	-3%	-$489K
20	20 S&P Global SPGI $164B	$14.4M	1.44%	28,403 +1,167	+4%	+$593K
21	21 McDonald's MCD $213B	$13.5M	1.35%	43,132 -527	-1%	-$165K
22	22 iShares MSCI World ETF URTH $5.28B	$13.2M	1.32%	86,417 +11,805	+16%	+$1.81M
23	23 Apple AAPL $3.19T	$13.1M	1.31%	59,114 -797	-1%	-$177K
24	24 Janus Henderson B-BBB CLO ETF JBBB $1.34B	$13.1M	1.31%	+268,536	New	+$13.1M
25	25 Brown & Brown BRO $34.1B	$12.5M	1.24%	100,094 +7,172	+8%	+$892K