Instuitional Investor - Pictet North America Advisors Sa

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Burford Capital Ltd	BUR	7,647,727	$89,499,735	8.98%
2.	Spdr Gold Trust	GLD	144,697	$43,939,421	4.41%
3.	Microsoft Corp	MSFT	85,224	$42,229,265	4.24%
4.	Harbor Etf Trust		856,500	$39,476,085	3.96%
5.	Taiwan Semiconductor Mfg Co Ltd	TSM	169,541	$38,399,341	3.85%