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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ISHARES CORE S&P TOTAL U.S. CORE S&P TTL STK 464287150   25,357,007 219,922 SH   SOLE   219,922 0 0
Choice Hotels Intl Inc COM 169905106   132,235,259 1,046,579 SH   SOLE   1,046,579 0 0
Goldman Saches Access Treasury 0 ETF ACCES TREASURY 381430529   42,844,649 424,770 SH   SOLE   424,770 0 0
ISHARES MSCI SOUTH AFRICA ETF (PSE) MSCI STH AFR ETF 464286780   69,801 1,782 SH   SOLE   1,782 0 0
Ishares MSCI Mexico ETF MSCI MEXICO ETF 464286822   2,936,318 42,365 SH   SOLE   42,365 0 0
ITAU UNIBANCO HOLDING ADR REP 1 PRF (NYS) SPON ADR REP PFD 465562106   14,629 2,111 SH   SOLE   2,111 0 0
PAR TECHNOLOGY ORD (NYS) COM 698884103   2,600,398 57,328 SH   SOLE   57,328 0 0
RENTOKIL INITIAL ADS ECH REP 5 ORD (NYS) SPONSORED ADR 760125104   2,246,748 74,519 SH   SOLE   74,519 0 0
ACADEMY SPORTS AND OUTDOORS ORD (NMS) COM 00402L107   1,650,000 25,000 SH   SOLE   25,000 0 0
ALTA EQUIPMENT GROUP CL A ORD (NYS) COM 02128L106   1,855,500 150,000 SH   SOLE   150,000 0 0
ASBURY AUTOMOTIVE GROUP ORD (NYS) COM 043436104   1,124,850 5,000 SH   SOLE   5,000 0 0
BILIBILI ADS (NMS) SPONS ADS REP Z 090040106   16,442 1,468 SH   SOLE   1,468 0 0
BLUELINX ORD (NYS) CL A 09624H208   2,266,200 20,000 SH   SOLE   20,000 0 0
CROCS ORD (NMS) COM 227046109   1,634,675 17,500 SH   SOLE   17,500 0 0
EURONET WORLDWIDE ORD (NMS) COM 298736109   2,537,250 25,000 SH   SOLE   25,000 0 0
EXTREME NETWORKS ORD (NMS) COM 30226D106   1,764,000 100,000 SH   SOLE   100,000 0 0
AMER SPORTS INC COM SHS G0260P102   326,000 20,000 SH   SOLE   20,000 0 0
FULL TRUCK ALLNC 20 ADR REP CL A ORD (NYS) SPONSORED ADS 35969L108   954,493 131,292 SH   SOLE   131,292 0 0
GRIFFON ORD (NYS) COM 398433102   16,264,080 266,843 SH   SOLE   266,843 0 0
IN8BIO, INC. (NMS) COM 45674E109   208,813 151,314 SH   SOLE   151,314 0 0
INTERNATIONAL MONEY EXPRESS ORD (NMS) COM 46005L101   1,546,300 70,000 SH   SOLE   70,000 0 0
ISHARES CORE S&P TOTAL U.S. CORE S&P TTL STK 464287150   121,947,852 1,057,657 SH   SOLE   1,057,657 0 0
ISHARES CORE S&P TOTAL U.S. CORE S&P TTL STK 464287150   38,351,432 332,623 SH   SOLE 1 332,623 0 0
iShares TIPS Bond ETF US TIPS ETF 464287176   61,388,711 2,770,603 SH   SOLE   2,770,603 0 0
iShares Core S&P 500 ETF CORE S&P500 ETF 464287200   583,323 1,419 SH   SOLE   1,419 0 0
ISHARES CORE U.S. AGGREGATE BOND ETF CORE US AGGBD ET 464287226   105,130,780 1,277,485 SH   SOLE   1,277,485 0 0
ISHARES MSCI INDIA ETF MSCI INDIA ETF 46429B598   24,172,959 468,559 SH   SOLE   468,559 0 0
ISHARES MSCI POLAND ETF (PSE) MSCI POLAND ETF 46429B606   43,358 1,838 SH   SOLE   1,838 0 0
ISHARES FLOATING RATE BOND ETF FLTG RATE NT ETF 46429B655   702,075 13,750 SH   SOLE   13,750 0 0
ISHARES CORE MSCI EAFE ETF CORE MSCI EAFE 46432F842   17,007,513 229,150 SH   SOLE 1 229,150 0 0
ISHARES CORE MSCI EMERGING ETF MSCI EMERG MRKT 46434G103   19,301,898 375,155 SH   SOLE   375,155 0 0
ISHARES CORE MSCI EMERGING ETF MSCI EMERG MRKT 46434G103   239,785 4,647 SH   SOLE 1 4,647 0 0
Ishares MSCI Saudi Arabia ETF MSCI SAUDI ARBIA 46434V423   958,493 21,705 SH   SOLE   21,705 0 0
ISHARES MSCI UAE ETF (NMS) MSCI UAE ETF 46434V761   37,552 2,539 SH   SOLE   2,539 0 0
ISHARES MSCI QATAR ETF MSCI QATAR ETF 46434V779   723,311 41,004 SH   SOLE   41,004 0 0
iShares Core MSCI International Developed Markets ETF CORE MSCI INTL 46435G326   56,677,769 844,597 SH   SOLE   844,597 0 0
ISHARES MSCI KUWAIT ETF (BAT) MSCI KUWAIT ETF 46436E817   17,071 508 SH   SOLE   508 0 0
JP Morgan Ultra Short Income ETF ULTRA SHRT INC 46641Q837   40,535,869 803,486 SH   SOLE   803,486 0 0
KE HOLDINGS ADR REP 3 CL A ORD (NYS) SPONSORED ADS 482497104   28,064 2,044 SH   SOLE   2,044 0 0
LEGACY HOUSING ORD (NMS) COM 52472M101   1,008,800 40,000 SH   SOLE   40,000 0 0
MERIDIANLINK ORD (NYS) COMMON STOCK 58985J105   213,311 11,407 SH   SOLE   11,407 0 0
NEW ORIENTL EDUCTN GRP ADR REP 1 ORD (NYS) SPON ADS 647581206   1,191,170 13,720 SH   SOLE   13,720 0 0
MINISO GROUP HOLD ADR REP 4 ORD (NYS) SPONSORED ADS 66981J102   857,115 162,271 SH   SOLE   162,271 0 0
PETROLEO BRASILEIRO ADR REPSTG 2 PRF (NYS) SP ADR NON VTG 71654V101   27,176 1,807 SH   SOLE   1,807 0 0
PDD HOLDINGS ADS (NMS) SPONSORED ADS 722304102   689,944 5,935 SH   SOLE   5,935 0 0
RLX TECHNOLOGY ADS REP CL A ORD (NYS) SPONSORED ADS 74969N103   9,932 5,173 SH   SOLE   5,173 0 0
R1 RCM ORD (NMS) COM 77634L105   3,171,000 300,000 SH   SOLE   300,000 0 0
SPDR GOLD SHARES ETF GOLD SHS 78463V107   41,636,844 203,006 SH   SOLE   203,006 0 0
SPDR GOLD SHARES ETF GOLD SHS 78463V107   4,313,742 20,969 SH   SOLE 1 20,969 0 0
SEA ADS REP CL A ORD (NYS) SPONSORED ADS 81141R100   114,295 2,128 SH   SOLE   2,128 0 0
CRH PUBLIC LIMITED ORD (NYS) ORD G25508105   4,841,000 70,000 SH   SOLE   70,000 0 0
SKYLINE CHAMPION ORD (NYS) COM 830830105   742,600 10,000 SH   SOLE   10,000 0 0
SOLARWINDS ORD (NYS) COM 83417Q204   1,873,500 150,000 SH   SOLE   150,000 0 0
QIFU TECHNOLOGY ADR (NMS) AMERICAN DEP 88557W101   27,461 1,490 SH   SOLE   1,490 0 0
US SILICA HOLDINGS ORD (NYS) COM 90346E103   442,156 35,629 SH   SOLE   35,629 0 0
VALE ADR REPTG ONE ORD (NYS) SPONSORED ADR 91912E105   19,541 1,603 SH   SOLE   1,603 0 0
VISHOP HLDGS LTD SPONSORED ADS A 92763W103   354,170 21,400 SH   SOLE   21,400 0 0
XPONENTIAL FITNESS CL A ORD (NYS) COM CL A 98422X101   1,654,000 100,000 SH   SOLE   100,000 0 0
YUM CHINA ORD (NYS) COM 98850P109   18,502 465 SH   SOLE   465 0 0
ZTO EXPRESS CAYMAN ADR REP CL A ORD (NYS) SPONSORED ADS A 98980A105   16,103 769 SH   SOLE   769 0 0
GIGACLOUD TECHNOLOGY CL A ORD (NMS) CLASS A ORD G38644103   510,458 19,104 SH   SOLE   19,104 0 0
GENIUS SPORTS ORD (NYS) SHARES CL A G3934V109   856,500 150,000 SH   SOLE   150,000 0 0
NU HOLDINGS CL A ORD (NYS) ORD SHS CL A G6683N103   12,503 1,048 SH   SOLE   1,048 0 0
VASTA PLATFORM CL A ORD (NMS) CL A G9440A109   18,893 4,759 SH   SOLE   4,759 0 0
VITRU ORD (NMS) COM G9440D103   51,278 3,556 SH   SOLE   3,556 0 0
PLAYA HOTELS RESORTS ORD (NMS) SHS N70544106   1,297,500 150,000 SH   SOLE   150,000 0 0