10Elms LLP

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), 10Elms LLP reported 185 stock positions worth $84.6 million. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 10.6% of the portfolio, followed by SS Technology Select Sector (XLK, 5.3%) and SS Health Care Select Sector (XLV, 4.9%). Compared with Q4 2024, it opened 14 new positions, sold out of 4, added to 45 and reduced 28. The biggest buy was iShares Core MSCI Eafe ETF (IEFA, shares +9%) and the biggest sale iShares MSCI USA Quality Fac (QUAL, shares −1%).

Most Recent 13F
Q2 2026
Location
TULSA, OK
CIK
0002056650
Portfolio Value
$84.6M (Q1 2025)
SEC Filing
0002056650-25-000002 ↗ filed May 13, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q4 2024: $79.8M Q4 2024 Q1 2025: $84.6M $84.6M Q1 2025 Q2 2025: $90.2M Q2 2025 Q3 2025: $96.7M Q3 2025 Q4 2025: $95.5M Q4 2025 Q1 2026: $145.0M Q1 2026 Q2 2026: $222.9M Q2 2026

Holdings 185 stocks · $84.6M
IEFA iShares Core MSCI Eafe ETF 10.58% 118,303 $8.9M Add +9.0%
XLK SS Technology Select Sector 5.27% 21,581 $4.5M Add +6.5%
XLV SS Health Care Select Sector 4.86% 28,129 $4.1M Add +5.8%
IEMG iShares Core MSCI Emerging 4.45% 69,685 $3.8M Add +10.5%
QUAL iShares MSCI USA Quality Fac 3.72% 18,425 $3.1M Reduce -1.0%
USMV iShares MSCI USA Min Vol Fac 3.69% 33,351 $3.1M Reduce -3.6%
BND Vanguard Total Bond Market 3.43% 39,512 $2.9M Add +3.8%
SCHD Schwab US DVD Equity ETF 3.36% 101,487 $2.8M Add +0.4%
SPY SS SPDR S&P 500 ETF Trust-US 2.90% 4,379 $2.4M No change
BNDX Vanguard Total Intl Bond ETF 2.65% 45,876 $2.2M Add +5.4%
XLF SS Financial Select Sector 2.60% 44,093 $2.2M Reduce -3.8%
MTUM iShares MSCI USA Momentum Fa 2.59% 10,857 $2.2M Reduce -2.9%
XLI SS Industrial Select Sector 2.44% 15,763 $2.1M Add +0.2%
IWM iShares Russell 2000 ETF 2.24% 9,512 $1.9M Add +13.8%
USIG iShares Broad Usd Investment 2.23% 36,853 $1.9M Add +5.2%
VYMI Vanguard Int High DVD YLD Inc. 1.74% 20,018 $1.5M Add +13.7%
VLUE iShares MSCI USA Value Facto 1.63% 12,922 $1.4M Reduce -1.2%
XLY SS Consumer Disc Select Sect 1.56% 6,673 $1.3M Reduce -3.4%
XLC SS Comm Select Sector SPDR 1.46% 12,781 $1.2M Reduce -4.0%
XLP SS Consumer Staples Sel Sect 1.40% 14,459 $1.2M Add +2.4%
VTI VG Morningstar TS MKT ETF-US 1.36% 4,176 $1.1M Add +13.8%
IBDR iShares Ibonds Dec 2026 Term 1.34% 46,959 $1.1M Add +3.0%
IBDT iShares Ibonds Dec 2028 ETF 1.25% 41,921 $1.1M Add +7.1%
IBDQ iShares Ibonds Dec 2025 Term 1.03% 34,489 $867K Add +3.7%
IBDS Ishrs Ibnds Dec 27 Corp. ETF 0.94% 32,820 $794K Add +25.9%
EMB iShares JP Morgan Usd Emergi 0.91% 8,471 $767K Add +11.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.81% 8,638 $681K Reduce -0.9%
EPD Enterprise Products Partners 0.80% 19,818 $677K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.80% 6,186 $672K Reduce -1.0%
BX Blackstone Inc. 0.78% 4,714 $659K No change
IBHE iShares Ibonds 2025 H/Y Inc. 0.78% 28,318 $658K No change
SOXX iShares Semiconductor ETF 0.75% 3,360 $632K Add +1.5%
DVYE iShares Emerging Markets Div 0.74% 23,036 $629K Add +28.9%
VTV Vanguard Mrngstr Val ETF-Aui 0.74% 3,611 $624K Reduce -4.0%
IBMO iShares Ibonds Dec 2026 Term 0.71% 23,394 $598K Add +21.8%
AB Alliancebernstein Holding LP 0.70% 15,460 $592K Reduce -3.2%
IBDU iShares Ibonds Dec 2029 Term 0.65% 23,750 $549K Add +204.5%
XLE SS Energy Select Sector 0.64% 5,792 $541K Add +8.2%
XLRE SS Real Estate Select Sector 0.64% 12,915 $540K Reduce -0.6%
IBMP iShares Ibonds Dec 2027 Term 0.63% 21,144 $535K Add +30.6%
KKR KKR & Co. Inc. 0.63% 4,594 $531K No change
XLB SS Materials Select Sector 0.60% 5,856 $503K Add +6.9%
IBMQ iShares Ibonds Dec 2028 Muni 0.57% 19,160 $485K Add +26.4%
IBMR iShares Ibonds Dec 2029 M BD 0.57% 19,350 $485K Add +19.4%
AMZN Amazon.com Inc. 0.55% 2,460 $468K Add +6.0%
FNDA Schwab Fndmntl US SM Co. ETF 0.55% 16,908 $463K Reduce -2.1%
PFF iShares Preferred & Income S 0.52% 14,244 $438K Reduce -8.8%
IBMN iShares Ibonds Dec 2025 Term 0.51% 16,239 $434K Add +12.9%
EMLP First Trust North American E 0.50% 11,343 $425K No change
TIP iShares Tips Bond ETF 0.49% 3,728 $414K Reduce -6.0%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.47% 5,085 $401K Add +6.6%
BRK.B Berkshire Hathaway Inc. Class B 0.42% 660 $352K Add +69.2%
FLRN SS SPDR BB Ig Float RT ETF 0.41% 11,338 $349K Reduce -0.9%
IBDV iShares Ibonds Dec 2030 Corp. 0.41% 15,801 $343K Add +247.2%
GOOGL Alphabet Inc. Class A 0.39% 2,120 $328K No change
CAT Caterpillar Inc. 0.33% 852 $281K No change
MSFT Microsoft Corp. 0.33% 740 $278K No change
WFC Wells Fargo & Co. 0.31% 3,701 $266K Add +42.3%
PEP Pepsico Inc. 0.31% 1,754 $263K Add +35.3%
IBB iShares Biotechnology ETF 0.31% 2,025 $259K No change
GOOG Alphabet Inc. Class C 0.30% 1,600 $250K No change
ENFR Alerian Energy Infrastructur 0.29% 7,600 $249K Add +7.0%
IBHF iShares Ibond 2026 HY & Inc. 0.29% 10,615 $246K Add +17.8%
MUB iShares National Muni Bond E 0.28% 2,250 $237K Add +9.8%
DTEC Alps Disruptive Technologies 0.28% 5,456 $237K No change
CWI State Street SPDR MSCI Acwi 0.23% 6,503 $192K Reduce -8.1%
ITA iShares U.S. Aerospace & Def 0.23% 1,250 $191K Add +13.6%
WMB Williams Cos Inc. 0.22% 3,149 $188K No change
KMI Kinder Morgan Inc. 0.22% 6,478 $185K No change
VEU Vanguard Ftse All-World Ex-U 0.21% 2,864 $174K Add +61.7%
PSX Phillips 66 0.20% 1,354 $167K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.20% 640 $166K No change
NVDA Nvidia Corp. 0.18% 1,430 $155K Add +16.3%
LNT Alliant Energy Corp. 0.18% 2,388 $154K New
COST Costco Wholesale Corp. 0.18% 160 $151K No change
IHAK iShares Cybersecurity & Tech 0.18% 3,200 $150K No change
BWXT BWX Technologies Inc. 0.18% 1,506 $149K No change
IBDW iShares Ibonds Dec 2031 Corp. 0.17% 7,100 $147K Add +255.0%
AAPL Apple Inc. 0.17% 650 $144K No change
KNG FT Vest S&P 500 DVD Arst TRG 0.17% 2,825 $143K No change
MCD McDonald's Corp. 0.17% 452 $141K Add +0.4%
VTEB Vanguard Tax-Exempt Bond ETF 0.17% 2,830 $140K New
LNG Cheniere Energy Inc. 0.15% 541 $125K No change
JNJ Johnson & Johnson 0.13% 683 $113K No change
AVGO Broadcom Inc. 0.13% 650 $109K No change
IDV iShares International Select 0.13% 3,500 $109K No change
IBHG iShares Ibonds 2027 HY Inc. 0.13% 4,757 $106K Add +14.4%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.12% 562 $105K Reduce -22.2%
IBMS ISHARESIBONDDEC2030MUNIBDETF 0.12% 4,120 $105K No change
SU Suncor Energy Inc. 0.12% 2,650 $103K No change
QCOM Qualcomm Inc. 0.11% 603 $93K No change
BMY Bristol-Myers Squibb Co. 0.11% 1,514 $92K No change
WMT Walmart Inc. 0.10% 990 $87K No change
DFUS Dimensional US Eq MKT ETF 0.10% 1,380 $83K No change
V Visa Inc. Class A 0.10% 230 $81K No change
NVS Novartis AG-Sponsored ADR 0.09% 700 $78K New
CMDY iShares Bloomberg Roll Selec 0.09% 1,500 $78K Reduce -6.3%
VIG Vanguard Dividend Apprec ETF 0.09% 400 $78K No change
ACWI iShares MSCI Acwi ETF 0.09% 632 $74K Add +21.5%
DFAI Dimensional International Co. 0.09% 2,350 $73K No change
EE Excelerate Energy Inc. Class A 0.08% 2,500 $72K No change
SPHD Invesco S&P 500 High Dividen 0.08% 1,363 $68K No change
GM General Motors Co. 0.08% 1,452 $68K New
BUD Anheuser-Busch Inbev-SPN ADR 0.08% 1,042 $64K New
INTF iShares International Equity 0.08% 2,069 $64K No change
AMLP Alerian MLP ETF 0.07% 1,150 $60K No change
UBER Uber Technologies Inc. 0.07% 800 $58K New
ACWX iShares MSCI Acwi Ex US ETF 0.07% 1,015 $56K No change
UNH Unitedhealth Group Inc. 0.06% 104 $54K No change
F Ford Motor Co. filed as FORD MTR CO 0.06% 5,339 $54K New
HD Home Depot Inc. 0.06% 140 $51K No change
TMUS T-Mobile US Inc. 0.06% 192 $51K No change
AMT American Tower Corp. 0.06% 231 $50K No change
XSLV Invesco S&P Smallcap Low Vol 0.06% 1,016 $47K Reduce -1.1%
EOG EOG Resources Inc. 0.05% 362 $46K No change
SUB iShares Short-Term National 0.05% 435 $46K New
STLA Stellantis NV 0.05% 3,787 $42K New
DFAE Dimensional Emerging Core Eq 0.05% 1,500 $39K No change
O Realty Income Corp. 0.05% 667 $39K No change
BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A 0.04% 2,000 $36K New
SPHQ Invesco S&P 500 Quality ETF 0.04% 515 $34K No change
PG The Procter & Gamble Co. 0.04% 200 $34K No change
MA Mastercard Inc. Class A 0.04% 62 $34K No change
CVX Chevron Corp. 0.04% 200 $33K No change
RTX RTX Corp. 0.04% 251 $33K No change
DFAS Dimensional US Small Cap ETF 0.04% 550 $33K No change
TSLA Tesla Inc. 0.04% 123 $32K No change
INDA iShares MSCI India ETF 0.04% 600 $31K No change
VTIP Vanguard Short-Term Tips 0.04% 594 $30K Reduce -27.1%
COP Conocophillips 0.03% 279 $29K No change
XOM Exxon Mobil Corp. 0.03% 228 $27K No change
ICAGY Intl Consolidated-Spons ADR filed as INTERNATIONAL CONS AIRLS GROUP SPONSORED ADR 0.03% 4,000 $27K New
CL Colgate-Palmolive Co. 0.03% 269 $25K No change
LLY Eli Lilly & Co. 0.03% 30 $25K No change
JPM JPMorgan Chase & Co. 0.03% 100 $25K No change
T AT&T Inc. 0.03% 834 $24K No change
SO The Southern Co. 0.03% 242 $22K No change
IBDX iShares Ibonds Dec 2032 TC 0.03% 850 $21K New
ABBV Abbvie Inc. 0.02% 94 $20K No change
ALLIANCEBERNSTEIN HLDXXXSUBMITTED FOR CASH EXP: 04/01/2025 0.02% 511 $20K New
DFCF Dimensional Core Fixed Inc. 0.02% 450 $19K No change
DGCB Dimensional Global Credit 0.02% 350 $19K No change
PFE Pfizer Inc. 0.02% 700 $18K Reduce -73.2%
VT Vanguard Tot World STK ETF 0.02% 151 $18K No change
CSCO Cisco Systems Inc. 0.02% 280 $17K No change
KO The Coca-Cola Co. 0.02% 240 $17K No change
DD Dupont DE Nemours Inc. 0.02% 229 $17K No change
MS Morgan Stanley 0.02% 143 $17K No change
SPLV Invesco S&P 500 Low Volatili 0.02% 209 $16K No change
ACN Accenture PLC Class A 0.02% 50 $16K No change
GS Goldman Sachs Group Inc. 0.02% 28 $15K No change
IVV iShares Core S&P 500 ETF 0.02% 26 $15K No change
SHM SS SPDR N Ice St Muni ETF 0.02% 300 $14K New
C Citigroup Inc. 0.02% 201 $14K No change
GSIE Goldman Sachs Activebeta Int 0.02% 392 $14K Reduce -50.0%
UNP Union Pacific Corp. 0.02% 58 $14K No change
MRK Merck & Co. Inc. 0.01% 111 $10K Reduce -42.8%
SCHG Schwab US Large-Cap Growth 0.01% 392 $10K No change
BKLN Invesco Senior Loan ETF 0.01% 455 $9K Add +193.6%
IWF iShares Russell 1000 Growth 0.01% 22 $8K No change
KMB Kimberly-Clark Corp. 0.01% 52 $7K No change
IWD iShares Russell 1000 Value E 0.01% 38 $7K No change
MO Altria Group Inc. 0.01% 117 $7K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.01% 89 $7K Reduce -49.7%
DHR Danaher Corp. 0.01% 33 $7K Reduce -42.1%
SBUX Starbucks Corp. 0.01% 67 $7K No change
EEMV iShares MSCI Emg MKT Min Vol 0.01% 94 $5K Reduce -38.6%
APD Air Products & Chemicals Inc. 0.01% 18 $5K No change
DFS Discover Financial Services 0.01% 31 $5K No change
IWS iShares Russell Mid-Cap Valu 0.01% 37 $5K No change
CVS CVS Health Corp. 0.01% 63 $4K Reduce -68.5%
IBHI iShares Ibonds 2029 TM HY Inc. 0.00% 151 $4K No change
PLD Prologis Inc. 0.00% 31 $3K No change
EVRG Evergy Inc. 0.00% 36 $2K No change
WBD Warner Bros Discovery Inc. 0.00% 178 $2K No change
DOV Dover Corp. 0.00% 10 $2K No change
IWR iShares Russell Mid-Cap ETF 0.00% 20 $2K No change
PHDG Invesco S&P 500 Downside Hed 0.00% 26 $948 No change
SPDW Ste STR SPDR PT DW Eu ETF 0.00% 12 $437 No change
ALL Allstate Corp. 0.00% 1 $207 No change
VWO Vanguard Ftse Emerging Marke 0.00% 3 $136 No change
HYPD Hyperion Defi Inc. filed as EYENOVIA INC 0.00% 90 $99 No change
EMGF iShares Emerging Markets Equ 0.00% 2 $94 No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.00% 2 $72 No change
GEM Goldman Sachs Activebeta Em 0.00% 1 $33 No change
Other holdings (341): bonds, preferreds, convertibles and warrants · $14.9M (not counted above)
SecurityClassShares / PrincipalValueChange
NORTH TEX TWY AUTH 4 39TOLL TRAN DUE 01/01/39 MUNI BONDS · principal 350,000$340KNo change
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK 14,714$273KReduce -0.7%
AUSTIN TEX CMNTY CO 4 35COLL EDUC DUE 08/01/35XTRO MUNI BONDS · principal 250,000$250KNo change
BURLESON TEX WTR & 4 30WRSR UTIL DUE 03/01/30 MUNI BONDS · principal 250,000$247KNo change
NEW YORK ST DORM AU 5 45UNIV EDUC DUE 07/01/45 MUNI BONDS · principal 250,000$241KNo change
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM 11,650$230KReduce -24.4%
GABELLI EQUITY TRUST (GAB 5 PERP G) PREFERRED STOCK 10,500$223KNo change
BANCROFT FUND LTD (BCV 5.375 PERP A) PREFERRED STOCK 9,482$210KNo change
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK 9,197$206KNo change
GULF COAST WASTE DI 5 33 CALLED @100 EFF: 10/01/2025 MUNI BONDS · principal 200,000$201KNo change
SEDGWICK CNTY KANS 4 29FAC BLDG DUE 08/01/29 MUNI BONDS · principal 200,000$200KNo change
ABRDN INCOME CREDIT (ACP 5.25 PERP A) PREFERRED STOCK 7,300$157KReduce -6.4%
METROPOLITAN TRANSN 4 36COMB TRAN DUE 11/15/36XTRO MUNI BONDS · principal 150,000$149KNo change
BANK NOVA SCOTI5 25 28F DUE 06/12/28 FOREIGN BONDS (US $) · principal 145,000$148KNo change
METROPOLITAN TRANSN 4 32COMB TRAN DUE 11/15/32XTRO MUNI BONDS · principal 140,000$140KNo change
ARLINGTON TEX HIGHE 4 44CHAR EDUC DUE 08/15/44OID XTRO MUNI BONDS · principal 150,000$137KNo change
ILLINOIS HSG DEV 1 4 30SING HSG DUE 10/01/30XTRO MUNI BONDS · principal 150,000$127KNo change
TRUIST FINL COR 1 125 27 DUE 08/03/27 CORPORATE BONDS · principal 130,000$120KNo change
TENN VALLEY AUTHORITY (TVA V2.134 06/01/28 D) Corporate Bond 5,037$120KNo change
THE TORONTO-DO5 156 28F DUE 01/10/28 FOREIGN BONDS (US $) · principal 115,000$117KNo change
PHILIP MORRIS IN 1 75 30 DUE 11/01/30 CORPORATE BONDS · principal 135,000$116KNo change
GILEAD SCIENCES, 1 2 27 DUE 10/01/27 CORPORATE BONDS · principal 124,000$115KNo change
PUBLIC STORAGE 5 125 29 DUE 01/15/29 CORPORATE BONDS · principal 110,000$112KNo change
SAN FELIPE DEL RIO 4 32GO UTX DUE 08/15/32 MUNI BONDS · principal 100,000$101KNo change
3M CO 2 375 29 DUE 08/26/29 CORPORATE BONDS · principal 110,000$100KNo change
HARRIS CNTY TEX HOS 4 31DIST HLTH DUE 02/15/31 MUNI BONDS · principal 100,000$100KNo change
NEW YORK ST DOR 4 625 27POOL EDR DUE 06/01/27OID XTRO MUNI BONDS · principal 100,000$100KNo change
CLINTON OKLA PUB WK 4 34COMB TAX DUE 12/01/34XTRO BUILD AMERICA MUTUA MUNI BONDS · principal 100,000$100KNo change
KAUFMAN CNTY TEX MU 4 35GO UTX DUE 09/01/35OID MUNI BONDS · principal 100,000$100KNo change
JOHNSON CNTY KA 3 625 34MUNI BLDG DUE 09/01/34OID XTRO MUNI BONDS · principal 100,000$100KNo change
INTEL CORP (INTC 3.7 07/29/25) CORPORATE BONDS · principal 100,000$100KNo change
PORT FREEPORT T 4 125 31PA TRAN DUE 06/01/31OID MUNI BONDS · principal 100,000$100KNo change
NEW YORK TRANSN DEV 4 35AIR TRAN DUE 07/01/35XTRO MUNI BONDS · principal 100,000$98KNo change
RAMAPO N Y LOC DEV 5 41REV LTX DUE 03/15/41 MUNI BONDS · principal 100,000$98KNo change
DALLAS TEX HOTEL OC 4 35SERV TAX DUE 08/15/35 MUNI BONDS · principal 100,000$97KNo change
PUBLIC STORAGE (PSA 5.15 PERP F) PREFERRED STOCK 4,500$95KNo change
ARLINGTON TEX HIGHE 4 39CHAR EDUC DUE 08/15/39OID XTRO MUNI BONDS · principal 100,000$95KNo change
AURORA ILL 3 125 32GO UTX DUE 12/30/32OID MUNI BONDS · principal 100,000$95KNo change
PHILLIPS 66 4 65 34 DUE 11/15/34 CORPORATE BONDS · principal 100,000$94KNo change
TARRANT CNTY TEX CU 4 42SYST HLTH DUE 11/15/42XTRO MUNI BONDS · principal 100,000$94KNo change
TRANSCANADA PI4 625 34F DUE 03/01/34 FOREIGN BONDS (US $) · principal 100,000$94KNo change
COOK CNTY ILL SCH D 3 35GO LTX DUE 12/01/35 MUNI BONDS · principal 100,000$90KNo change
WELLS FARGO & CO 5 9 28 DUE 08/14/28 CORPORATE BONDS · principal 89,000$89KNo change
ELGIN ILL 2 25GO UTX DUE 12/15/25 MUNI BONDS · principal 90,000$89KNo change
KANE COOK & DU PA 1 5 29GO UTX DUE 12/15/29 MUNI BONDS · principal 100,000$88KNo change
NEXTERA ENERGY CAPI 5 30 DUE 02/28/30 CORPORATE BONDS · principal 85,000$87KNo change
BANK OF MONTREA1 25 26F DUE 09/15/26 FOREIGN BONDS (US $) · principal 90,000$86KNo change
EVANSTON ILL 2 31GO UTX DUE 12/01/31 MUNI BONDS · principal 100,000$86KNo change
FRANKLIN BSP REALTY TRST (FBRT 7.5 PERP E) Equities 4,200$85KNo change
SAN LEANDRO CAL 3 625 27MUNI BLDG DUE 12/01/27OID XTRO MUNI BONDS · principal 85,000$85KNo change
SAN DIEGO GAS & E 1 7 30 DUE 10/01/30 CORPORATE BONDS · principal 100,000$85KNo change
ENTERGY TEXAS, I 1 75 31 DUE 03/15/31 CORPORATE BONDS · principal 100,000$85KNo change
CHAMPAIGN & VERMILL 3 33GO UTX DUE 12/01/33 MUNI BONDS · principal 90,000$84KNo change
ARAPAHOE CNTY CO 2 25 34GO UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$82KNo change
LOWE'S COMPANIES, 1 7 28 DUE 09/15/28 CORPORATE BONDS · principal 90,000$82KNo change
PHILIP MORRIS I 5 125 27 DUE 11/17/27 CORPORATE BONDS · principal 80,000$81KNo change
HP INC (HPQ 6 09/15/41) CORPORATE BONDS · principal 80,000$81KNo change
REALTY INCOME COR 1 8 33 DUE 03/15/33 CORPORATE BONDS · principal 100,000$78KNo change
ORLAND PARK ILL 3 46DB UTX DUE 12/01/46 MUNI BONDS · principal 100,000$77KNo change
MC HENRY CNTY ILL 1 5 26GO UTX DUE 12/30/26 MUNI BONDS · principal 80,000$77KNo change
CAROL STREAM ILL PK 5 37 CALLED @100 EFF: 01/16/2026 MUNI BONDS · principal 75,000$76KNo change
VIRIDIAN MUN MGMT D 2 34DB UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$76KNo change
THE GOLDMAN SACHS G 1 25 DUE 12/21/25 CORPORATE BONDS · principal 75,000$73KNo change
CHANNAHON ILL FIRE 3 32DB UTX DUE 01/01/32 MUNI BONDS · principal 75,000$71KNo change
HARRIS CNTY TEX MUN 2 25DB UTX DUE 09/01/25 MUNI BONDS · principal 70,000$69KNo change
MONTGOMERY CNTY TEX 3 32GO UTX DUE 09/01/32OID MUNI BONDS · principal 75,000$69KNo change
LAKE CNTY ILL WTR & 2 31WRSR UTIL DUE 12/01/31 MUNI BONDS · principal 80,000$69KNo change
ILLINOIS HSG DEV 0 9 28SING HSG DUE 10/01/28XTRO MUNI BONDS · principal 75,000$66KNo change
CHARLOTTE N C 2 34GO UTX DUE 06/01/34 MUNI BONDS · principal 75,000$62KNew
VIRIDIAN MUN MGMT D 1 29DB UTX DUE 12/01/29OID MUNI BONDS · principal 75,000$62KNo change
TX UNIV SYS BRD RGTS (TX TXSHGR 3 03/15/2034) MUNI BONDS · principal 65,000$61KNew
LOWER COLO RIV AUTH 4 40ELEC UTIL DUE 05/15/40OID ASSURED GUARANTY MUN MUNI BONDS · principal 62,000$60KNo change
NORTH TEX TWY AUTH 0 28TOLL TRAN DUE 01/01/28OID ASSURED GUARANTY COR MUNI BONDS · principal 65,000$59KNo change
PHILLIPS 66 (PSX 1.3 02/15/26) CORPORATE BONDS · principal 60,000$58KNo change
THE GOLDMAN SACH 4 75 33 DUE 08/15/33 CORPORATE BONDS · principal 57,000$57KNo change
THE WILLIAMS COMP 5 4 26 DUE 03/02/26 CORPORATE BONDS · principal 55,000$55KNo change
SABINE PASS LIQUEFA 5 27 DUE 03/15/27 CORPORATE BONDS · principal 55,000$55KNo change
GABELLI EQUITY TRUST (GAB 5 PERP K) PREFERRED STOCK 2,600$55KNo change
TRANSCANADA PI4 875 26F DUE 01/15/26 FOREIGN BONDS (US $) · principal 55,000$55KNo change
BRANCH CNTY MICH BL 4 32REV UTX DUE 05/01/32 MUNI BONDS · principal 50,000$51KNo change
CHAMBERS CNTY TEX I 4 29GO UTX DUE 09/01/29 MUNI BONDS · principal 50,000$51KNo change
FOND DU LAC WIS WTR 4 26WTR UTIL DUE 09/01/26 MUNI BONDS · principal 50,000$51KNo change
ARIZONA INDL DEV AU 4 28CHAR EDUC DUE 11/01/28XTRO MUNI BONDS · principal 50,000$51KNo change
ONEOK, INC 5 55 26 DUE 11/01/26 CORPORATE BONDS · principal 50,000$51KNo change
NEXTERA ENERGY CA 1 9 28 DUE 06/15/28 CORPORATE BONDS · principal 55,000$51KNo change
KING CNTY WASH HSG 4 27MULT HSG DUE 08/01/27 MUNI BONDS · principal 50,000$51KNo change
ILLINOIS FIN AUTH R 5 36EXCISE TAX DUE 12/01/36 MUNI BONDS · principal 50,000$51KNo change
KENTUCKY INC KY PUB 4 29OILG IDR DUE 08/01/29XTRO MUNI BONDS · principal 50,000$50KNo change
TCM BANK, NTNL AS 5125CD FDIC INS DUE 04/04/25US CERTIFICATE DEPOSIT · principal 50,000$50KNo change
ROYAL BANK OF CA5 2 28F DUE 04/17/28 FOREIGN BONDS (US $) · principal 50,000$50KNo change
BANK OF NOVA SCOTIA NOTE 4.500%12/1 · principal 50,000$50KNo change
HOUSTON TEX INDPT S 4 38GO LTX DUE 02/15/38 MUNI BONDS · principal 50,000$50KNo change
CBOE GLOBAL MARK 3 65 27 DUE 01/12/27 CORPORATE BONDS · principal 50,000$49KNo change
KELLER TEX 2 26GO LTX DUE 02/15/26 MUNI BONDS · principal 50,000$49KNo change
OKLAHOMA DEV FI 4 851 45COMB IDR DUE 02/01/45TAXBL MUNI BONDS · principal 50,000$49KNo change
PUBLIC STORAGE (PSA 4.625 PERP L) COM 2,600$49KNo change
HARRIS CNTY TEX HOS 4 34DIST HLTH DUE 02/15/34 MUNI BONDS · principal 50,000$49KNo change
BAKER HUGHES LLC/CO-OBL (BKR 3.337 12/15/27) CORPORATE BONDS · principal 50,000$49KNo change
BP CAPITAL MARKETS PLC (BPLN 3.723 11/28/28) FOREIGN BONDS (US $) · principal 50,000$49KNo change
THE ALLSTATE COR 0 75 25 DUE 12/15/25 CORPORATE BONDS · principal 50,000$49KNo change
LUBBOCK COOPER TEX 2 27GO UTX DUE 02/15/27 MUNI BONDS · principal 50,000$49KNo change
SOUTH BROWARD HO 3 25 31SYST HLTH DUE 05/01/31OID XTRO MUNI BONDS · principal 50,000$48KNew
KERRVILLE TEX 3 375 32DB LTX DUE 08/15/32 MUNI BONDS · principal 50,000$48KNo change
LIBERTY TEX 2 27GO LTX DUE 03/01/27 MUNI BONDS · principal 50,000$48KNo change
ROCKETT TEX SPL U 3 1 30WTR UTIL DUE 07/10/30ASSURED GUARANTY MUN MUNI BONDS · principal 50,000$48KNo change
THE TORONTO-DOM1 95 27F DUE 01/12/27 FOREIGN BONDS (US $) · principal 50,000$48KNo change
CITIGROUP INC 3 27 DUE 12/31/27 CORPORATE BONDS · principal 50,000$47KNo change
JOHNSON CNTY KAN 2 25 29WTR UTIL DUE 07/01/29OID MUNI BONDS · principal 50,000$47KNo change
MIDWEST CITY OKL 4 25 38RTL IDR DUE 02/01/38XTRO TAXBL MUNI BONDS · principal 50,000$46KNo change
GENERAL ELECTRIC CO (GE 4 06/15/32 NOT2) CORPORATE BONDS · principal 50,000$46KNo change
BRIDGESTONE MUN UTI 3 33DB UTX DUE 05/01/33OID MUNI BONDS · principal 50,000$46KNo change
SIMON PROPERTY GROUP LP (SPG 2.45 09/13/29) CORPORATE BONDS · principal 50,000$46KNo change
TULSA CNTY OKLA IND 4 29FAC BLDG DUE 02/01/29XTRO MUNI BONDS · principal 45,000$46KNo change
L3HARRIS TECHNOLO 5 4 27 DUE 01/15/27 CORPORATE BONDS · principal 45,000$46KNo change
PROVIDENCE ST 2 532 29 DUE 10/01/29 CORPORATE BONDS · principal 50,000$46KNo change
CVS HEALTH CORP 5 26 DUE 02/20/26 CORPORATE BONDS · principal 45,000$45KNo change
SAN JACINTO TEX R 4 5 27WTR UTIL DUE 10/01/27OID ASSURED GUARANTY MUN MUNI BONDS · principal 45,000$45KNo change
THE GOLDMAN SACHS G 2 29 DUE 08/30/29 CORPORATE BONDS · principal 50,000$44KNo change
JOHNSTON CNTY N C 1 5 30GO UTX DUE 02/01/30 MUNI BONDS · principal 50,000$44KNo change
NORTH CAROLINA H 1 45 30SING HSG DUE 01/01/30XTRO MUNI BONDS · principal 50,000$44KNo change
FLORIDA HSG FIN COR 2 32SING HSG DUE 07/01/32XTRO MUNI BONDS · principal 50,000$43KNew
DALLAS TEX WTRW 3 125 32WRSR UTIL DUE 10/01/32OID MUNI BONDS · principal 45,000$43KNo change
GREENSBORO N C 1 671 31PKG BLDG DUE 11/01/31TAXBL MUNI BONDS · principal 50,000$42KNo change
OKLAHOMA DEV FIN AU 4 29IMPT EDUC DUE 06/01/29XTRO MUNI BONDS · principal 40,000$41KNo change
FORT BEND CNTY T 2 75 35GO UTX DUE 09/01/35OID MUNI BONDS · principal 50,000$41KNo change
BRUSHY CREEK MUN 2 25 33GO UTX DUE 06/01/33OID MUNI BONDS · principal 50,000$41KNo change
WEC ENERGY GROUP 5 15 27 DUE 10/01/27 CORPORATE BONDS · principal 40,000$41KNo change
SEMPRA 5 4 26 DUE 08/01/26 CORPORATE BONDS · principal 40,000$40KNo change
JACKSON FINL INC 5 17 27 DUE 06/08/27 CORPORATE BONDS · principal 40,000$40KNo change
MORGAN STANLEY 5 25 DUE 11/24/25 CORPORATE BONDS · principal 40,000$40KNo change
RIVERNORTH/DOUBLELINE (OPP 4.75 PERP B) PREFERRED DEBT 2,000$40KNo change
LAKES FRESH WTR SUP 2 33GO UTX DUE 09/01/33 MUNI BONDS · principal 50,000$40KNew
FLORIDA HSG FIN 1 75 33SING HSG DUE 07/01/33XTRO MUNI BONDS · principal 50,000$39KNew
REALTY INCOME CO 0 75 26 DUE 03/15/26 CORPORATE BONDS · principal 40,000$39KNo change
VAN ALSTYNE TEX 2 36DB LTX DUE 02/15/36 MUNI BONDS · principal 50,000$38KNew
SAN ANTONIO TEX PUB 4 42CONV BLDG DUE 09/15/42OID XTRO MUNI BONDS · principal 42,000$38KNo change
THE GOLDMAN SACH 1 65 27 DUE 06/10/27 CORPORATE BONDS · principal 40,000$37KNo change
BUTLER CNTY KANS UN 3 34GO UTX DUE 09/01/34 MUNI BONDS · principal 40,000$37KNo change
THE BANK OF NEW Y 1 9 29 DUE 01/25/29 CORPORATE BONDS · principal 40,000$37KNo change
WELLTOWER INC 2 05 29 DUE 01/15/29 CORPORATE BONDS · principal 40,000$36KNo change
THE WALT DISNEY CO 2 29 DUE 09/01/29 CORPORATE BONDS · principal 40,000$36KNo change
LOVE CNTY OKLA EDL 4 28LEAS SCH DUE 12/01/28XTRO MUNI BONDS · principal 35,000$36KNo change
BANK OF MONTRE5 203 28F DUE 02/01/28 FOREIGN BONDS (US $) · principal 35,000$36KNo change
VODAFONE GROUP4 375 28F DUE 05/30/28 FOREIGN BONDS (US $) · principal 35,000$35KNo change
BOSSIER PARISH LA P 4 29GO UTX DUE 03/01/29 MUNI BONDS · principal 35,000$35KNo change
JPMORGAN CHASE B 4 55 25CD FDIC INS DUE 11/19/25US CERTIFICATE DEPOSIT · principal 35,000$35KNew
MAINSTREET BANK 45525CD FDIC INS DUE 05/30/25US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
SANTANDER BANK, 4 35 25CD FDIC INS DUE 08/15/25US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
TRUIST BANK 4 25 25CD FDIC INS DUE 09/05/25US CERTIFICATE DEPOSIT · principal 35,000$35KNew
MISSION TEX REDEV A 4 27TAXI TAX DUE 09/01/27 MUNI BONDS · principal 35,000$35KNo change
WOORI AMERICA BA 4 25 25CD FDIC INS DUE 10/28/25US CERTIFICATE DEPOSIT · principal 35,000$35KNew
SOUTHERN POWER CO (SO 4.15 12/01/25) CORPORATE BONDS · principal 35,000$35KNo change
CUMBERLAND CNTY PA 4 35SYST HLTH DUE 11/01/35XTRO MUNI BONDS · principal 35,000$35KNew
CHAMBERS CNTY TE 3 75 28GO UTX DUE 09/01/28 MUNI BONDS · principal 35,000$34KNo change
LOWER COLO RIV AUTH 4 35ELEC UTIL DUE 05/15/35 MUNI BONDS · principal 35,000$34KNew
1ST SOURCE BANK 5225CD FDIC INS DUE 11/14/25US CERTIFICATE DEPOSIT · principal 34,000$34KNo change
DUKE ENERGY CORP 325 DUE 06/15/25 CORPORATE BONDS · principal 34,000$34KNo change
FLUOR CORP (FLR 4.25 09/15/28) CORPORATE BONDS · principal 35,000$33KNo change
WICHITA KANS 2 33DB UTX DUE 06/01/33 MUNI BONDS · principal 40,000$33KNo change
GOLDMAN SACHS BA 4 75 25CD FDIC INS DUE 07/30/25US CERTIFICATE DEPOSIT · principal 32,000$32KNew
EXTRA SPACE STORA 5 5 30 DUE 07/01/30 CORPORATE BONDS · principal 30,000$31KNo change
LAKE CNTY ILL WTR & 2 30WRSR UTIL DUE 12/01/30 MUNI BONDS · principal 35,000$31KNo change
RYDER SYSTEM INC 5 65 28 DUE 03/01/28 CORPORATE BONDS · principal 30,000$31KNo change
BLACKMAN TWP MICH 4 32GO UTX DUE 05/01/32 MUNI BONDS · principal 30,000$31KNo change
PHILIP MORRIS I 5 125 30 DUE 02/15/30 CORPORATE BONDS · principal 30,000$31KNo change
ENTERPRISE PRODU 5 05 26 DUE 01/10/26 CORPORATE BONDS · principal 30,000$30KNo change
MICHIGAN ST 3 59 26GO UTX DUE 12/01/26TAXBL MUNI BONDS · principal 30,000$30KNo change
UCF STAD CORP FLA 3 5 32FAC EDUC DUE 03/01/32OID MUNI BONDS · principal 30,000$30KNew
ATHENE HOLDING LTD (ATH 4.125 01/12/28) CORPORATE BONDS · principal 30,000$30KNo change
TULSA OKLA ARPTS 3 5 27AIR TRAN DUE 06/01/27XTRO TAXBL MUNI BONDS · principal 30,000$30KNo change
HARRIS CNTY TEX CUL 4 36SERV EDR DUE 11/15/36XTRO MUNI BONDS · principal 30,000$29KNew
JPMORGAN CHASE & VAR 27 DUE 09/22/27 CORPORATE BONDS · principal 30,000$29KNo change
MID-AMERICA APART 1 1 26 DUE 09/15/26 CORPORATE BONDS · principal 30,000$29KNo change
JPMORGAN CHASE & CO 2 28 DUE 11/14/28 CORPORATE BONDS · principal 30,000$27KNo change
ONEOK, INC 5 8 30 DUE 11/01/30 CORPORATE BONDS · principal 25,000$26KNo change
NEXTERA ENERGY, 5 05 28 DUE 04/01/28 CORPORATE BONDS · principal 25,000$25KNo change
CAROL STREAM ILL PK 5 37 CALLED @100 EFF: 01/01/2026 MUNI BONDS · principal 25,000$25KNo change
BRYAN CNTY OKLA SCH 4 26EXCISE TAX DUE 12/01/26XTRO MUNI BONDS · principal 25,000$25KNo change
NEW HANOVER CNT 3 125 33HOSP HLTH DUE 10/01/33OID XTRO MUNI BONDS · principal 25,000$25KNo change
COLUMBUS CNTY N C L 4 32WRSR UTIL DUE 06/01/32 MUNI BONDS · principal 25,000$25KNo change
CITIGROUP INC (C 3.7 01/12/26) CORPORATE BONDS · principal 25,000$25KNo change
TULSA OKLA INDL 3 75 26UNIV EDUC DUE 10/01/26OID MUNI BONDS · principal 25,000$25KNo change
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP E) PREFERRED STOCK 1,100$25KNo change
HARRIS CNTY TEX MUN 3 28GO UTX DUE 09/01/28 MUNI BONDS · principal 25,000$25KNo change
TEXAS ST 4 631 33GO UTX DUE 04/01/33XTRO TAXBL MUNI BONDS · principal 25,000$25KNo change
SHELL INTERNTN2 875 26F DUE 05/10/26 FOREIGN BONDS (US $) · principal 25,000$25KNo change
HOLLAND MICH 3 35 27GO LTX DUE 12/01/27TAXBL MUNI BONDS · principal 25,000$24KNo change
THE TORONTO-DOM0 75 26F DUE 01/06/26 FOREIGN BONDS (US $) · principal 25,000$24KNo change
FORD MOTOR CREDIT C 4 27 DUE 08/20/27 CORPORATE BONDS · principal 25,000$24KNo change
LANSING MICH TA 3 655 29DB UTX DUE 06/01/29TAXBL MUNI BONDS · principal 25,000$24KNo change
KALAMAZOO MICH HOSP 4 36SYST HLTH DUE 05/15/36XTRO MUNI BONDS · principal 25,000$24KNo change
GEORGIA ST HSG & 2 45 28SING HSG DUE 12/01/28XTRO MUNI BONDS · principal 25,000$24KNo change
NEXTERA ENERGY 1 875 27 DUE 01/15/27 CORPORATE BONDS · principal 25,000$24KNo change
GABELLI DVD & INC TR (GDV 5.375 PERP H) PREFERRED STOCK 1,000$24KNo change
LOUISIANA PUB FACS 3 31SYST HLTH DUE 05/15/31OID XTRO MUNI BONDS · principal 25,000$24KNo change
UNIVERSITY OKLA REV 4 40PUB EDUC DUE 07/01/40OID MUNI BONDS · principal 25,000$23KNo change
THE GOLDMAN SACH 1 55 27 DUE 07/29/27 CORPORATE BONDS · principal 25,000$23KNo change
UNIVERSITY N C CHAR 435 CALLED 100 EFF: 04/01/2025 MUNI BONDS · principal 23,000$23KNo change
PRUDENTIAL FINL 4 05 34 DUE 11/15/34 CORPORATE BONDS · principal 25,000$23KNo change
UNIVERSITY OKLA REV 3 33PUB EDUC DUE 07/01/33OID MUNI BONDS · principal 25,000$23KNo change

Largest 200 of 341 shown.

Total filed on the 13F, all lines: $99.5M.

Portfolio Sells Q4 2024 → Q1 2025
QUAL iShares MSCI USA Quality Fac Reduce -1.0% 3.72% −0.43
XLY SS Consumer Disc Select Sect Reduce -3.4% 1.56% −0.38
MTUM iShares MSCI USA Momentum Fa Reduce -2.9% 2.59% −0.30
XLF SS Financial Select Sector Reduce -3.8% 2.60% −0.18
XLC SS Comm Select Sector SPDR Reduce -4.0% 1.46% −0.16
USMV iShares MSCI USA Min Vol Fac Reduce -3.6% 3.69% −0.16
VLUE iShares MSCI USA Value Facto Reduce -1.2% 1.63% −0.10
PFF iShares Preferred & Income S Reduce -8.8% 0.52% −0.10
FNDA Schwab Fndmntl US SM Co. ETF Reduce -2.1% 0.55% −0.10
PFE Pfizer Inc. Reduce -73.2% 0.02% −0.07
VTV Vanguard Mrngstr Val ETF-Aui Reduce -4.0% 0.74% −0.06
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -22.2% 0.12% −0.06
AB Alliancebernstein Holding LP Reduce -3.2% 0.70% −0.04
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -1.0% 0.80% −0.04
TIP iShares Tips Bond ETF Reduce -6.0% 0.49% −0.04
FLRN SS SPDR BB Ig Float RT ETF Reduce -0.9% 0.41% −0.03
XLRE SS Real Estate Select Sector Reduce -0.6% 0.64% −0.02
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -0.9% 0.81% −0.02
CWB SS SPDR BB Conv Sec ETF Sold out 0.00% −0.02
CWI State Street SPDR MSCI Acwi Reduce -8.1% 0.23% −0.02
GSIE Goldman Sachs Activebeta Int Reduce -50.0% 0.02% −0.02
VTIP Vanguard Short-Term Tips Reduce -27.1% 0.04% −0.01
MRK Merck & Co. Inc. Reduce -42.8% 0.01% −0.01
NKE Nike Inc. Class B Sold out 0.00% −0.01
DHR Danaher Corp. Reduce -42.1% 0.01% −0.01
EFAV iShares MSCI Eafe Min Vol Fa Reduce -49.7% 0.01% −0.01
CVS CVS Health Corp. Reduce -68.5% 0.01% −0.01
XSLV Invesco S&P Smallcap Low Vol Reduce -1.1% 0.06% −0.01
EEMV iShares MSCI Emg MKT Min Vol Reduce -38.6% 0.01% −0.00
CMDY iShares Bloomberg Roll Selec Reduce -6.3% 0.09% −0.00
SPIP SS SPDR P Tips ETF Sold out 0.00% −0.00

Portfolio Buys Q4 2024 → Q1 2025
IEFA iShares Core MSCI Eafe ETF Add +9.0% 10.58% +1.02
IBDU iShares Ibonds Dec 2029 Term Add +204.5% 0.65% +0.43
IEMG iShares Core MSCI Emerging Add +10.5% 4.45% +0.32
IBDV iShares Ibonds Dec 2030 Corp. Add +247.2% 0.41% +0.28
XLV SS Health Care Select Sector Add +5.8% 4.86% +0.27
VYMI Vanguard Int High DVD YLD Inc. Add +13.7% 1.74% +0.25
BRK.B Berkshire Hathaway Inc. Class B Add +69.2% 0.42% +0.19
LNT Alliant Energy Corp. New 0.18% +0.18
VTEB Vanguard Tax-Exempt Bond ETF New 0.17% +0.17
DVYE iShares Emerging Markets Div Add +28.9% 0.74% +0.16
IBDS Ishrs Ibnds Dec 27 Corp. ETF Add +25.9% 0.94% +0.16
IBDW iShares Ibonds Dec 2031 Corp. Add +255.0% 0.17% +0.12
IBMP iShares Ibonds Dec 2027 Term Add +30.6% 0.63% +0.12
IBMQ iShares Ibonds Dec 2028 Muni Add +26.4% 0.57% +0.09
IBMO iShares Ibonds Dec 2026 Term Add +21.8% 0.71% +0.09
NVS Novartis AG-Sponsored ADR New 0.09% +0.09
WFC Wells Fargo & Co. Add +42.3% 0.31% +0.09
GM General Motors Co. New 0.08% +0.08
VEU Vanguard Ftse All-World Ex-U Add +61.7% 0.21% +0.08
BUD Anheuser-Busch Inbev-SPN ADR New 0.08% +0.08
UBER Uber Technologies Inc. New 0.07% +0.07
IBMR iShares Ibonds Dec 2029 M BD Add +19.4% 0.57% +0.07
XLE SS Energy Select Sector Add +8.2% 0.64% +0.07
PEP Pepsico Inc. Add +35.3% 0.31% +0.06
F Ford Motor Co. New 0.06% +0.06
EMB iShares JP Morgan Usd Emergi Add +11.0% 0.91% +0.06
SUB iShares Short-Term National New 0.05% +0.05
STLA Stellantis NV New 0.05% +0.05
BBAR Bbva Argentina SA-ADR New 0.04% +0.04
IBMN iShares Ibonds Dec 2025 Term Add +12.9% 0.51% +0.03
ICAGY Intl Consolidated-Spons ADR New 0.03% +0.03
IBDT iShares Ibonds Dec 2028 ETF Add +7.1% 1.25% +0.03
IBHF iShares Ibond 2026 HY & Inc. Add +17.8% 0.29% +0.03
ITA iShares U.S. Aerospace & Def Add +13.6% 0.23% +0.03
IBDX iShares Ibonds Dec 2032 TC New 0.03% +0.03
VTI VG Morningstar TS MKT ETF-US Add +13.8% 1.36% +0.02
ALLIANCEBERNSTEIN HLDXXXSUBMITTED FOR CASH EXP: 04/01/2025 New 0.02% +0.02
USIG iShares Broad Usd Investment Add +5.2% 2.23% +0.02
XLB SS Materials Select Sector Add +6.9% 0.60% +0.02
ENFR Alerian Energy Infrastructur Add +7.0% 0.29% +0.02
SHM SS SPDR N Ice St Muni ETF New 0.02% +0.02
ACWI iShares MSCI Acwi ETF Add +21.5% 0.09% +0.01
IBHG iShares Ibonds 2027 HY Inc. Add +14.4% 0.13% +0.01
BKLN Invesco Senior Loan ETF Add +193.6% 0.01% +0.01
MUB iShares National Muni Bond E Add +9.8% 0.28% +0.01
XLP SS Consumer Staples Sel Sect Add +2.4% 1.40% +0.00
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +6.6% 0.47% +0.00
MCD McDonald's Corp. Add +0.4% 0.17% +0.00
BND Vanguard Total Bond Market Add +3.8% 3.43% +0.00
IBDQ iShares Ibonds Dec 2025 Term Add +3.7% 1.03% −0.02

Notes & Other Activity Q4 2024 → Q1 2025
TREASURY BILL (B 0 01/16/25) BIL · principal Sold out 1,691,000 $1.7Mbefore exit
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK Reduce -0.7% 14,714 $273K
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM Reduce -24.4% 11,650 $230K
CRANE CNTY TEX WTR 33GO UTX DUE 02/15/33OID MUNI BONDS · principal Sold out 225,000 $225Kbefore exit
ABRDN INCOME CREDIT (ACP 5.25 PERP A) PREFERRED STOCK Reduce -6.4% 7,300 $157K
ROCKWALL TEX INDPT 46GO UTX DUE 02/15/46 MUNI BONDS · principal Sold out 100,000 $100Kbefore exit
NVS Novartis AG-Sponsored ADR SPONSORED ADR · principal Sold out 700 $68Kbefore exit
CHARLOTTE N C 2 34GO UTX DUE 06/01/34 MUNI BONDS · principal New 75,000 $62K
TX UNIV SYS BRD RGTS (TX TXSHGR 3 03/15/2034) MUNI BONDS · principal New 65,000 $61K
MAINSTREET BANK 26CALLED 100 EFF 01142025 CERTIFICATE DEPOSIT · principal Sold out 55,000 $55Kbefore exit
PORT ARTHUR TEX IND 45GO UTX DUE 02/15/45 MUNI BONDS · principal Sold out 50,000 $50Kbefore exit
AMGEN INC. 25 DUE 03/02/25 CORPORATE BONDS · principal Sold out 50,000 $50Kbefore exit
CLEAR CREEK TEX IND 32GO UTX DUE 02/15/32 MUNI BONDS · principal Sold out 50,000 $50Kbefore exit
SOUTH BROWARD HO 3 25 31SYST HLTH DUE 05/01/31OID XTRO MUNI BONDS · principal New 50,000 $48K
ENTERGY ARKANSAS LLC (ETR 4.875 09/01/66) EQUITY Sold out 1,994 $44Kbefore exit
FLORIDA HSG FIN COR 2 32SING HSG DUE 07/01/32XTRO MUNI BONDS · principal New 50,000 $43K
LAKES FRESH WTR SUP 2 33GO UTX DUE 09/01/33 MUNI BONDS · principal New 50,000 $40K
FLORIDA HSG FIN 1 75 33SING HSG DUE 07/01/33XTRO MUNI BONDS · principal New 50,000 $39K
VAN ALSTYNE TEX 2 36DB LTX DUE 02/15/36 MUNI BONDS · principal New 50,000 $38K
SANTANDER BANK, N 25CD FDIC INS DUE 01/14/25US CERTIFICATE DEPOSIT · principal Sold out 38,000 $38Kbefore exit
CHARLES SCHWAB BANK SSB (SCHW 5.05 03/28/25) CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
JPMORGAN CHASE B 4 55 25CD FDIC INS DUE 11/19/25US CERTIFICATE DEPOSIT · principal New 35,000 $35K
U.S. BANK NTNL AS 25CD FDIC INS DUE 06/06/25US CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
TRUIST BANK 4 25 25CD FDIC INS DUE 09/05/25US CERTIFICATE DEPOSIT · principal New 35,000 $35K
WOORI AMERICA BA 4 25 25CD FDIC INS DUE 10/28/25US CERTIFICATE DEPOSIT · principal New 35,000 $35K
CLEVELAND CNTY 25GO UTX DUE 03/01/25TAXBL MUNI BONDS · principal Sold out 35,000 $35Kbefore exit
CUMBERLAND CNTY PA 4 35SYST HLTH DUE 11/01/35XTRO MUNI BONDS · principal New 35,000 $35K
LOWER COLO RIV AUTH 4 35ELEC UTIL DUE 05/15/35 MUNI BONDS · principal New 35,000 $34K
GOLDMAN SACHS BA 4 75 25CD FDIC INS DUE 07/30/25US CERTIFICATE DEPOSIT · principal New 32,000 $32K
FERRIS ST UNIV MICH 30PUB EDUC DUE 10/01/30 MUNI BONDS · principal Sold out 30,000 $30Kbefore exit
UCF STAD CORP FLA 3 5 32FAC EDUC DUE 03/01/32OID MUNI BONDS · principal New 30,000 $30K
HARRIS CNTY TEX CUL 4 36SERV EDR DUE 11/15/36XTRO MUNI BONDS · principal New 30,000 $29K
WELLS FARGO BANK 25CD FDIC INS DUE 02/18/25US CERTIFICATE DEPOSIT · principal Sold out 28,000 $28Kbefore exit
JPMORGAN CHASE & VAR 26 DUE 02/24/26 CORPORATE BONDS · principal Sold out 25,000 $25Kbefore exit
NEW YORK N Y CI 36COMB TAX DUE 05/01/36XTRO TAXBL MUNI BONDS · principal Sold out 25,000 $25Kbefore exit
ZIONS BANCORP, NT 25CD FDIC INS DUE 01/02/25US CERTIFICATE DEPOSIT · principal Sold out 22,000 $22Kbefore exit
BANK OF AMERICA, NT 4 26CD FDIC INS DUE 01/02/26US CERTIFICATE DEPOSIT · principal New 22,000 $22K
WELLS FARGO BANK NA (WFC 5.15 03/12/25) CERTIFICATE DEPOSIT · principal Sold out 20,000 $20Kbefore exit
KAREGNONDI WTR AU 33CALLED 100 EFF 01212025 MUNI BONDS · principal Sold out 20,000 $20Kbefore exit
MAINSTREET BANK 27CALLED 100 EFF 01142025 CERTIFICATE DEPOSIT · principal Sold out 20,000 $20Kbefore exit
WELLS FARGO BANK NA (WFC 4.25 03/11/26) CERTIFICATE DEPOSIT · principal New 15,000 $15K
BANK OF AMERICA, 25CD FDIC INS DUE 03/04/25US CERTIFICATE DEPOSIT · principal Sold out 15,000 $15Kbefore exit
BANK OF AMERICA NA (BAC 4.1 01/15/26) CERTIFICATE DEPOSIT · principal New 14,000 $14K
WELLS FARGO BANK 5 25 25CD FDIC INS DUE 09/19/25US CERTIFICATE DEPOSIT · principal New 13,000 $13K
WELLS FARGO BANK 4 25 25CD FDIC INS DUE 12/05/25US CERTIFICATE DEPOSIT · principal New 12,000 $12K
PEOPLES BANK 25CD FDIC INS DUE 09/30/25US CERTIFICATE DEPOSIT · principal Sold out 10,000 $10Kbefore exit
TULSA CNTY OKLA 25GO UTX DUE 03/01/25 MUNI BONDS · principal Sold out 10,000 $10Kbefore exit
FORT BEND CNTY TEX 3 28GO UTX DUE 09/01/28OID BUILD AMERICA MUTUAL MUNI BONDS · principal New 10,000 $10K
WELLS FARGO BANK, 4 2 25CD FDIC INS DUE 12/31/25US CERTIFICATE DEPOSIT · principal New 9,000 $9K
GREAT SOUTHERN B 25CD FDIC INS DUE 03/25/25US CERTIFICATE DEPOSIT · principal Sold out 9,000 $9Kbefore exit

Showing the first 50 of 52.

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 238$222.9MIEFA, XLK, IEMG, USMV, VTV
Q1 2026 189$145.0MIEFA, IEMG, XLK, USMV, XLV
Q4 2025 162$95.5MIEFA, XLK, IEMG, XLV, USMV
Q3 2025 167$96.7MIEFA, XLK, IEMG, XLV, USMV
Q2 2025 166$90.2MIEFA, XLK, IEMG, XLV, USMV
Q1 2025 185$84.6MIEFA, XLK, XLV, IEMG, QUAL
Q4 2024 175$79.8MIEFA, XLK, XLV, QUAL, IEMG