10Elms LLP

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), 10Elms LLP reported 166 stock positions worth $90.2 million. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 11.1% of the portfolio, followed by SS Technology Select Sector (XLK, 6.2%) and iShares Core MSCI Emerging (IEMG, 4.8%). Compared with Q1 2025, it opened 6 new positions, sold out of 24, added to 42 and reduced 27. The biggest buy was SS Technology Select Sector (XLK, shares +2%) and the biggest sale SS Health Care Select Sector (XLV, shares −1%).

Most Recent 13F
Q2 2026
Location
TULSA, OK
CIK
0002056650
Portfolio Value
$90.2M (Q2 2025)
SEC Filing
0002056650-25-000003 ↗ filed Aug 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q4 2024: $79.8M Q4 2024 Q1 2025: $84.6M Q1 2025 Q2 2025: $90.2M $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 166 stocks · $90.2M
IEFA iShares Core MSCI Eafe ETF 11.12% 120,099 $10.0M Add +1.5%
XLK SS Technology Select Sector 6.17% 21,971 $5.6M Add +1.8%
IEMG iShares Core MSCI Emerging 4.80% 72,094 $4.3M Add +3.5%
XLV SS Health Care Select Sector 4.18% 27,939 $3.8M Reduce -0.7%
USMV iShares MSCI USA Min Vol Fac 3.61% 34,709 $3.3M Add +4.1%
BND Vanguard Total Bond Market 3.14% 38,512 $2.8M Reduce -2.5%
QUAL iShares MSCI USA Quality Fac 3.12% 15,399 $2.8M Reduce -16.4%
SCHD Schwab US DVD Equity ETF 3.08% 104,662 $2.8M Add +3.1%
SPY SS SPDR S&P 500 ETF Trust-US 3.00% 4,379 $2.7M No change
XLF SS Financial Select Sector 2.74% 47,263 $2.5M Add +7.2%
MTUM iShares MSCI USA Momentum Fa 2.69% 10,102 $2.4M Reduce -7.0%
XLI SS Industrial Select Sector 2.56% 15,643 $2.3M Reduce -0.8%
BNDX Vanguard Total Intl Bond ETF 2.50% 45,592 $2.3M Reduce -0.6%
IWM iShares Russell 2000 ETF 2.43% 10,162 $2.2M Add +6.8%
USIG iShares Broad Usd Investment 2.17% 38,113 $2.0M Add +3.4%
XLY SS Consumer Disc Select Sect 1.88% 7,793 $1.7M Add +16.8%
VYMI Vanguard Int High DVD YLD Inc. 1.87% 21,028 $1.7M Add +5.0%
XLC SS Comm Select Sector SPDR 1.70% 14,161 $1.5M Add +10.8%
VLUE iShares MSCI USA Value Facto 1.50% 11,913 $1.3M Reduce -7.8%
VTI VG Morningstar TS MKT ETF-US 1.45% 4,312 $1.3M Add +3.3%
XLP SS Consumer Staples Sel Sect 1.30% 14,499 $1.2M Add +0.3%
IBDR iShares Ibonds Dec 2026 Term 1.29% 48,109 $1.2M Add +2.5%
IBDT iShares Ibonds Dec 2028 ETF 1.28% 45,356 $1.2M Add +8.2%
IBDS Ishrs Ibnds Dec 27 Corp. ETF 0.94% 34,825 $845K Add +6.1%
IBDQ iShares Ibonds Dec 2025 Term 0.92% 32,829 $827K Reduce -4.8%
EMB iShares JP Morgan Usd Emergi 0.92% 8,920 $826K Add +5.3%
SOXX iShares Semiconductor ETF 0.89% 3,365 $803K Add +0.1%
BX Blackstone Inc. 0.77% 4,614 $690K Reduce -2.1%
DVYE iShares Emerging Markets Div 0.76% 24,006 $688K Add +4.2%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.75% 6,186 $678K No change
IBHE iShares Ibonds 2025 H/Y Inc. 0.73% 28,318 $659K No change
IBDU iShares Ibonds Dec 2029 Term 0.73% 28,050 $654K Add +18.1%
AB Alliancebernstein Holding LP 0.70% 15,460 $631K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.69% 7,668 $626K Reduce -11.2%
EPD Enterprise Products Partners 0.68% 19,818 $615K No change
KKR KKR & Co. Inc. 0.68% 4,594 $611K No change
IBMO iShares Ibonds Dec 2026 Term 0.68% 23,794 $610K Add +1.7%
AMZN Amazon.com Inc. 0.64% 2,625 $576K Add +6.7%
VTV Vanguard Mrngstr Val ETF-Aui 0.61% 3,111 $550K Reduce -13.8%
IBMP iShares Ibonds Dec 2027 Term 0.60% 21,344 $541K Add +0.9%
IBMR iShares Ibonds Dec 2029 M BD 0.55% 19,700 $497K Add +1.8%
IBMQ iShares Ibonds Dec 2028 Muni 0.54% 19,160 $487K No change
XLE SS Energy Select Sector 0.54% 5,712 $484K Reduce -1.4%
FNDA Schwab Fndmntl US SM Co. ETF 0.52% 16,458 $472K Reduce -2.7%
XLRE SS Real Estate Select Sector 0.50% 10,855 $450K Reduce -15.9%
IBDV iShares Ibonds Dec 2030 Corp. 0.49% 20,051 $441K Add +26.9%
VEU Vanguard Ftse All-World Ex-U 0.48% 6,503 $437K Add +127.1%
IBMN iShares Ibonds Dec 2025 Term 0.48% 16,239 $435K No change
PFF iShares Preferred & Income S 0.48% 14,114 $433K Reduce -0.9%
XLB SS Materials Select Sector 0.47% 4,876 $428K Reduce -16.7%
TIP iShares Tips Bond ETF 0.47% 3,868 $426K Add +3.8%
EMLP First Trust North American E 0.47% 11,343 $425K No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.46% 5,115 $413K Add +0.6%
GOOGL Alphabet Inc. Class A 0.41% 2,120 $374K No change
FLRN SS SPDR BB Ig Float RT ETF 0.38% 11,130 $343K Reduce -1.8%
MUB iShares National Muni Bond E 0.38% 3,250 $340K Add +44.4%
BRK.B Berkshire Hathaway Inc. Class B 0.36% 660 $321K No change
MSFT Microsoft Corp. 0.35% 640 $318K Reduce -13.5%
WFC Wells Fargo & Co. 0.35% 3,971 $318K Add +7.3%
GOOG Alphabet Inc. Class C 0.31% 1,600 $284K No change
CAT Caterpillar Inc. 0.30% 699 $271K Reduce -18.0%
DTEC Alps Disruptive Technologies 0.30% 5,456 $269K No change
IBDW iShares Ibonds Dec 2031 Corp. 0.29% 12,600 $265K Add +77.5%
IBB iShares Biotechnology ETF 0.28% 2,025 $256K No change
ENFR Alerian Energy Infrastructur 0.28% 7,800 $251K Add +2.6%
IBHF iShares Ibond 2026 HY & Inc. 0.27% 10,615 $247K No change
ITA iShares U.S. Aerospace & Def 0.27% 1,300 $245K Add +4.0%
NVDA Nvidia Corp. 0.26% 1,480 $234K Add +3.5%
PEP Pepsico Inc. 0.26% 1,754 $232K No change
BWXT BWX Technologies Inc. 0.24% 1,506 $217K No change
COST Costco Wholesale Corp. 0.24% 215 $213K Add +34.4%
WMB Williams Cos Inc. 0.22% 3,149 $198K No change
KMI Kinder Morgan Inc. 0.21% 6,478 $190K No change
CWI State Street SPDR MSCI Acwi 0.20% 5,528 $181K Reduce -15.0%
AVGO Broadcom Inc. 0.20% 650 $179K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.20% 640 $179K No change
IBDX iShares Ibonds Dec 2032 TC 0.19% 6,850 $173K Add +705.9%
IHAK iShares Cybersecurity & Tech 0.19% 3,200 $170K No change
PSX Phillips 66 0.18% 1,354 $162K No change
LNT Alliant Energy Corp. 0.16% 2,388 $144K No change
IBMS ISHARESIBONDDEC2030MUNIBDETF 0.16% 5,520 $142K Add +34.0%
VTEB Vanguard Tax-Exempt Bond ETF 0.15% 2,830 $139K No change
KNG FT Vest S&P 500 DVD Arst TRG 0.15% 2,825 $139K No change
MCD McDonald's Corp. 0.15% 455 $133K Add +0.7%
LNG Cheniere Energy Inc. 0.15% 541 $132K No change
IDV iShares International Select 0.13% 3,500 $121K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.12% 562 $110K No change
IBHG iShares Ibonds 2027 HY Inc. 0.12% 4,757 $107K No change
JNJ Johnson & Johnson 0.12% 683 $104K No change
SU Suncor Energy Inc. 0.11% 2,650 $99K No change
WMT Walmart Inc. 0.11% 990 $97K No change
QCOM Qualcomm Inc. 0.11% 603 $96K No change
NVS Novartis AG-Sponsored ADR 0.09% 700 $85K No change
UBER Uber Technologies Inc. 0.09% 900 $84K Add +12.5%
VIG Vanguard Dividend Apprec ETF 0.09% 400 $82K No change
V Visa Inc. Class A 0.09% 230 $82K No change
CMDY iShares Bloomberg Roll Selec 0.08% 1,500 $76K No change
EE Excelerate Energy Inc. Class A 0.08% 2,500 $73K No change
GM General Motors Co. 0.08% 1,455 $72K Add +0.2%
BUD Anheuser-Busch Inbev-SPN ADR 0.08% 1,042 $72K No change
INTF iShares International Equity 0.08% 2,069 $71K No change
SPHD Invesco S&P 500 High Dividen 0.07% 1,363 $65K No change
F Ford Motor Co. filed as FORD MTR CO 0.06% 5,313 $58K Reduce -0.5%
ACWX iShares MSCI Acwi Ex US ETF 0.06% 933 $57K Reduce -8.1%
AMLP Alerian MLP ETF 0.06% 1,150 $56K No change
ACWI iShares MSCI Acwi ETF 0.06% 432 $56K Reduce -31.6%
AMT American Tower Corp. 0.06% 231 $51K No change
AAPL Apple Inc. 0.06% 243 $50K Reduce -62.6%
SUB iShares Short-Term National 0.05% 435 $46K No change
TMUS T-Mobile US Inc. 0.05% 192 $46K No change
O Realty Income Corp. 0.04% 667 $38K No change
STLA Stellantis NV 0.04% 3,787 $38K No change
ICAGY Intl Consolidated-Spons ADR filed as INTERNATIONAL CONS AIRLS GROUP SPONSORED ADR 0.04% 4,000 $37K No change
SPHQ Invesco S&P 500 Quality ETF 0.04% 515 $37K No change
RTX RTX Corp. 0.04% 251 $37K No change
IBDY iShares Ibonds Dec 2033 Corp. 0.04% 1,400 $36K New
TSLA Tesla Inc. 0.04% 110 $35K Reduce -10.6%
VTWO Vanguard Russell 2000 ETF 0.04% 400 $35K New
VWO Vanguard Ftse Emerging Marke 0.04% 703 $35K Add +23333.3%
INDA iShares MSCI India ETF 0.04% 600 $33K No change
BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A 0.04% 2,000 $33K No change
XSLV Invesco S&P Smallcap Low Vol 0.04% 708 $32K Reduce -30.3%
PG The Procter & Gamble Co. 0.04% 200 $32K No change
VTIP Vanguard Short-Term Tips 0.03% 594 $30K No change
JPM JPMorgan Chase & Co. 0.03% 100 $29K No change
CVX Chevron Corp. 0.03% 200 $29K No change
EAT Brinker International Inc. 0.03% 140 $25K New
VT Vanguard Tot World STK ETF 0.03% 195 $25K Add +29.1%
COP Conocophillips 0.03% 279 $25K No change
XOM Exxon Mobil Corp. 0.03% 228 $25K No change
T AT&T Inc. 0.03% 834 $24K No change
LLY Eli Lilly & Co. 0.03% 30 $23K No change
SO The Southern Co. 0.02% 242 $22K No change
LVMUY LVMH Moet Hennessy-Unsp ADR 0.02% 200 $21K New
MS Morgan Stanley 0.02% 143 $20K No change
ABBV Abbvie Inc. 0.02% 94 $17K No change
C Citigroup Inc. 0.02% 201 $17K No change
KO The Coca-Cola Co. 0.02% 240 $17K No change
PFE Pfizer Inc. 0.02% 700 $17K No change
IVV iShares Core S&P 500 ETF 0.02% 26 $16K No change
DD Dupont DE Nemours Inc. 0.02% 229 $16K No change
GSIE Goldman Sachs Activebeta Int 0.02% 392 $16K No change
SPLV Invesco S&P 500 Low Volatili 0.02% 209 $15K No change
VWOB Vanguard Emerg MKTS Gov BND 0.01% 200 $13K New
SCHG Schwab US Large-Cap Growth 0.01% 392 $11K No change
BKLN Invesco Senior Loan ETF 0.01% 455 $10K No change
IWF iShares Russell 1000 Growth 0.01% 22 $9K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.01% 89 $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
KMB Kimberly-Clark Corp. 0.01% 52 $7K No change
COF Capital One Financial Corp. 0.01% 31 $7K New
EEMV iShares MSCI Emg MKT Min Vol 0.01% 94 $6K No change
APD Air Products & Chemicals Inc. 0.01% 18 $5K No change
IWS iShares Russell Mid-Cap Valu 0.01% 37 $5K No change
IBHI iShares Ibonds 2029 TM HY Inc. 0.00% 151 $4K No change
EVRG Evergy Inc. 0.00% 36 $2K No change
CVS CVS Health Corp. 0.00% 28 $2K Reduce -55.6%
IWR iShares Russell Mid-Cap ETF 0.00% 20 $2K No change
HYPD Hyperion Defi Inc. filed as EYENOVIA INC 0.00% 90 $934 No change
PHDG Invesco S&P 500 Downside Hed 0.00% 26 $918 No change
SPDW Ste STR SPDR PT DW Eu ETF 0.00% 12 $486 No change
ALL Allstate Corp. 0.00% 1 $201 No change
EMGF iShares Emerging Markets Equ 0.00% 2 $104 No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.00% 2 $80 No change
GEM Goldman Sachs Activebeta Em 0.00% 1 $37 No change
Other holdings (337): 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$331KNo change
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK 14,714$270KNo change
BURLESON TEX WTR & 4 30WRSR UTIL DUE 03/01/30 MUNI BONDS · principal 250,000$250KNo change
AUSTIN TEX CMNTY CO 4 35COLL EDUC DUE 08/01/35XTRO MUNI BONDS · principal 250,000$250KNo change
NEW YORK ST DORM AU 5 45UNIV EDUC DUE 07/01/45 MUNI BONDS · principal 250,000$236KNo change
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM 11,650$228KNo change
GABELLI EQUITY TRUST (GAB 5 PERP G) PREFERRED STOCK 10,300$211KReduce -1.9%
BANCROFT FUND LTD (BCV 5.375 PERP A) PREFERRED STOCK 9,482$206KNo change
GULF COAST WASTE DI 5 33 CALLED @100 EFF: 10/01/2025 MUNI BONDS · principal 200,000$201KNo change
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK 8,997$200KReduce -2.2%
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$150KNo change
BANK NOVA SCOTI5 25 28F DUE 06/12/28 FOREIGN BONDS (US $) · principal 145,000$149KNo change
METROPOLITAN TRANSN 4 36COMB TRAN DUE 11/15/36XTRO MUNI BONDS · principal 150,000$147KNo change
METROPOLITAN TRANSN 4 32COMB TRAN DUE 11/15/32XTRO MUNI BONDS · principal 140,000$141KNo change
ARLINGTON TEX HIGHE 4 44CHAR EDUC DUE 08/15/44OID XTRO MUNI BONDS · principal 150,000$133KNo change
ILLINOIS HSG DEV 1 4 30SING HSG DUE 10/01/30XTRO MUNI BONDS · principal 150,000$133KNo change
TRUIST FINL COR 1 125 27 DUE 08/03/27 CORPORATE BONDS · principal 130,000$122KNo change
TENN VALLEY AUTHORITY (TVA V2.134 06/01/28 D) Corporate Bond 5,037$118KNo change
PHILIP MORRIS IN 1 75 30 DUE 11/01/30 CORPORATE BONDS · principal 135,000$118KNo change
THE TORONTO-DO5 156 28F DUE 01/10/28 FOREIGN BONDS (US $) · principal 115,000$117KNo change
GILEAD SCIENCES, 1 2 27 DUE 10/01/27 CORPORATE BONDS · principal 124,000$116KNo change
PUBLIC STORAGE 5 125 29 DUE 01/15/29 CORPORATE BONDS · principal 110,000$113KNo change
3M CO 2 375 29 DUE 08/26/29 CORPORATE BONDS · principal 110,000$102KNo change
SAN FELIPE DEL RIO 4 32GO UTX DUE 08/15/32 MUNI BONDS · principal 100,000$101KNo 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
PORT FREEPORT T 4 125 31PA TRAN DUE 06/01/31OID 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
KAUFMAN CNTY TEX MU 4 35GO UTX DUE 09/01/35OID MUNI BONDS · principal 100,000$100KNo change
INTEL CORP (INTC 3.7 07/29/25) CORPORATE BONDS · principal 100,000$100KNo change
NEW YORK TRANSN DEV 4 35AIR TRAN DUE 07/01/35XTRO MUNI BONDS · principal 100,000$99KNo change
DALLAS TEX HOTEL OC 4 35SERV TAX DUE 08/15/35 MUNI BONDS · principal 100,000$98KNo change
AURORA ILL 3 125 32GO UTX DUE 12/30/32OID MUNI BONDS · principal 100,000$97KNo change
RAMAPO N Y LOC DEV 5 41REV LTX DUE 03/15/41 MUNI BONDS · principal 100,000$96KNo change
TRANSCANADA PI4 625 34F DUE 03/01/34 FOREIGN BONDS (US $) · principal 100,000$96KNo change
PHILLIPS 66 4 65 34 DUE 11/15/34 CORPORATE BONDS · principal 100,000$95KNo change
ARLINGTON TEX HIGHE 4 39CHAR EDUC DUE 08/15/39OID XTRO MUNI BONDS · principal 100,000$93KNo change
TARRANT CNTY TEX CU 4 42SYST HLTH DUE 11/15/42XTRO MUNI BONDS · principal 100,000$92KNo change
PUBLIC STORAGE (PSA 5.15 PERP F) PREFERRED STOCK 4,500$92KNo change
COOK CNTY ILL SCH D 3 35GO LTX DUE 12/01/35 MUNI BONDS · principal 100,000$90KNo change
KANE COOK & DU PA 1 5 29GO UTX DUE 12/15/29 MUNI BONDS · principal 100,000$90KNo change
ELGIN ILL 2 25GO UTX DUE 12/15/25 MUNI BONDS · principal 90,000$89KNo change
WELLS FARGO & CO 5 9 28 DUE 08/14/28 CORPORATE BONDS · principal 89,000$89KNo change
EVANSTON ILL 2 31GO UTX DUE 12/01/31 MUNI BONDS · principal 100,000$88KNo change
NEXTERA ENERGY CAPI 5 30 DUE 02/28/30 CORPORATE BONDS · principal 85,000$87KNo change
SAN DIEGO GAS & E 1 7 30 DUE 10/01/30 CORPORATE BONDS · principal 100,000$87KNo change
BANK OF MONTREA1 25 26F DUE 09/15/26 FOREIGN BONDS (US $) · principal 90,000$87KNo change
ENTERGY TEXAS, I 1 75 31 DUE 03/15/31 CORPORATE BONDS · principal 100,000$86KNo change
CHAMPAIGN & VERMILL 3 33GO UTX DUE 12/01/33 MUNI BONDS · principal 90,000$85KNo change
SAN LEANDRO CAL 3 625 27MUNI BLDG DUE 12/01/27OID XTRO MUNI BONDS · principal 85,000$85KNo change
FRANKLIN BSP REALTY TRST (FBRT 7.5 PERP E) Equities 4,200$85KNo change
ARAPAHOE CNTY CO 2 25 34GO UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$84KNo change
LOWE'S COMPANIES, 1 7 28 DUE 09/15/28 CORPORATE BONDS · principal 90,000$83KNo change
PHILIP MORRIS I 5 125 27 DUE 11/17/27 CORPORATE BONDS · principal 80,000$82KNo 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$80KNo change
MC HENRY CNTY ILL 1 5 26GO UTX DUE 12/30/26 MUNI BONDS · principal 80,000$77KNo change
VIRIDIAN MUN MGMT D 2 34DB UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$77KNo change
CAROL STREAM ILL PK 5 37 CALLED @100 EFF: 01/16/2026 MUNI BONDS · principal 75,000$76KNo change
ORLAND PARK ILL 3 46DB UTX DUE 12/01/46 MUNI BONDS · principal 100,000$74KNo 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$72KNo change
MONTGOMERY CNTY TEX 3 32GO UTX DUE 09/01/32OID MUNI BONDS · principal 75,000$71KNo change
LAKE CNTY ILL WTR & 2 31WRSR UTIL DUE 12/01/31 MUNI BONDS · principal 80,000$70KNo change
HARRIS CNTY TEX MUN 2 25DB UTX DUE 09/01/25 MUNI BONDS · principal 70,000$70KNo change
ILLINOIS HSG DEV 0 9 28SING HSG DUE 10/01/28XTRO MUNI BONDS · principal 75,000$68KNo change
CHARLOTTE N C 2 34GO UTX DUE 06/01/34 MUNI BONDS · principal 75,000$64KNo change
VIRIDIAN MUN MGMT D 1 29DB UTX DUE 12/01/29OID MUNI BONDS · principal 75,000$64KNo change
TX UNIV SYS BRD RGTS (TX TXSHGR 3 03/15/2034) MUNI BONDS · principal 65,000$61KNo change
NORTH TEX TWY AUTH 0 28TOLL TRAN DUE 01/01/28OID ASSURED GUARANTY COR MUNI BONDS · principal 65,000$60KNo change
PHILLIPS 66 (PSX 1.3 02/15/26) CORPORATE BONDS · principal 60,000$59KNo change
LOWER COLO RIV AUTH 4 40ELEC UTIL DUE 05/15/40OID ASSURED GUARANTY MUN MUNI BONDS · principal 62,000$58KNo change
THE GOLDMAN SACH 4 75 33 DUE 08/15/33 CORPORATE BONDS · principal 57,000$56KNo change
SABINE PASS LIQUEFA 5 27 DUE 03/15/27 CORPORATE BONDS · principal 55,000$55KNo change
THE WILLIAMS COMP 5 4 26 DUE 03/02/26 CORPORATE BONDS · principal 55,000$55KNo change
TRANSCANADA PI4 875 26F DUE 01/15/26 FOREIGN BONDS (US $) · principal 55,000$55KNo change
GABELLI EQUITY TRUST (GAB 5 PERP K) PREFERRED STOCK 2,600$53KNo change
BRANCH CNTY MICH BL 4 32REV UTX DUE 05/01/32 MUNI BONDS · principal 50,000$51KNo change
NEXTERA ENERGY CA 1 9 28 DUE 06/15/28 CORPORATE BONDS · principal 55,000$51KNo change
CHAMBERS CNTY TEX I 4 29GO UTX DUE 09/01/29 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
KING CNTY WASH HSG 4 27MULT HSG DUE 08/01/27 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
ONEOK, INC 5 55 26 DUE 11/01/26 CORPORATE BONDS · principal 50,000$51KNo change
KENTUCKY INC KY PUB 4 29OILG IDR DUE 08/01/29XTRO MUNI BONDS · principal 50,000$50KNo change
ILLINOIS FIN AUTH R 5 36EXCISE TAX DUE 12/01/36 MUNI BONDS · 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
HARRIS CNTY TEX HOS 4 34DIST HLTH DUE 02/15/34 MUNI BONDS · principal 50,000$50KNo change
CBOE GLOBAL MARK 3 65 27 DUE 01/12/27 CORPORATE BONDS · principal 50,000$50KNo change
KELLER TEX 2 26GO LTX DUE 02/15/26 MUNI BONDS · principal 50,000$50KNo change
TEXAS MUN PWR AGY R 3 30PWR UTIL DUE 09/01/30 MUNI BONDS · principal 50,000$50KNew
KERRVILLE TEX 3 375 32DB LTX DUE 08/15/32 MUNI BONDS · principal 50,000$49KNo change
SOUTH BROWARD HO 3 25 31SYST HLTH DUE 05/01/31OID XTRO MUNI BONDS · principal 50,000$49KNo change
THE ALLSTATE COR 0 75 25 DUE 12/15/25 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
HOUSTON TEX INDPT S 4 38GO LTX DUE 02/15/38 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
LUBBOCK COOPER TEX 2 27GO UTX DUE 02/15/27 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
ROCKETT TEX SPL U 3 1 30WTR UTIL DUE 07/10/30ASSURED GUARANTY MUN MUNI BONDS · principal 50,000$49KNo change
LIBERTY TEX 2 27GO LTX DUE 03/01/27 MUNI BONDS · principal 50,000$49KNo 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$48KNo change
PUBLIC STORAGE (PSA 4.625 PERP L) COM 2,600$47KNo change
JOHNSON CNTY KAN 2 25 29WTR UTIL DUE 07/01/29OID MUNI BONDS · principal 50,000$47KNo change
GENERAL ELECTRIC CO (GE 4 06/15/32 NOT2) CORPORATE BONDS · principal 50,000$47KNo change
SIMON PROPERTY GROUP LP (SPG 2.45 09/13/29) CORPORATE BONDS · principal 50,000$46KNo change
BRIDGESTONE MUN UTI 3 33DB UTX DUE 05/01/33OID MUNI BONDS · principal 50,000$46KNo change
MIDWEST CITY OKL 4 25 38RTL IDR DUE 02/01/38XTRO TAXBL MUNI BONDS · principal 50,000$46KNo change
TULSA CNTY OKLA IND 4 29FAC BLDG DUE 02/01/29XTRO MUNI BONDS · principal 45,000$46KNo change
PROVIDENCE ST 2 532 29 DUE 10/01/29 CORPORATE BONDS · principal 50,000$46KNo change
L3HARRIS TECHNOLO 5 4 27 DUE 01/15/27 CORPORATE BONDS · principal 45,000$46KNo change
NORTH CAROLINA H 1 45 30SING HSG DUE 01/01/30XTRO MUNI BONDS · principal 50,000$45KNo change
SAN JACINTO TEX R 4 5 27WTR UTIL DUE 10/01/27OID ASSURED GUARANTY MUN MUNI BONDS · principal 45,000$45KNo change
JOHNSTON CNTY N C 1 5 30GO UTX DUE 02/01/30 MUNI BONDS · principal 50,000$45KNo change
CVS HEALTH CORP 5 26 DUE 02/20/26 CORPORATE BONDS · principal 45,000$45KNo change
THE GOLDMAN SACHS G 2 29 DUE 08/30/29 CORPORATE BONDS · principal 50,000$44KNo change
FLORIDA HSG FIN COR 2 32SING HSG DUE 07/01/32XTRO MUNI BONDS · principal 50,000$44KNo change
DALLAS TEX WTRW 3 125 32WRSR UTIL DUE 10/01/32OID MUNI BONDS · principal 45,000$44KNo change
GREENSBORO N C 1 671 31PKG BLDG DUE 11/01/31TAXBL MUNI BONDS · principal 50,000$43KNo change
BRUSHY CREEK MUN 2 25 33GO UTX DUE 06/01/33OID MUNI BONDS · principal 50,000$42KNo change
FORT BEND CNTY T 2 75 35GO UTX DUE 09/01/35OID 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
WEC ENERGY GROUP 5 15 27 DUE 10/01/27 CORPORATE BONDS · principal 40,000$41KNo change
JACKSON FINL INC 5 17 27 DUE 06/08/27 CORPORATE BONDS · principal 40,000$40KNo change
LAKES FRESH WTR SUP 2 33GO UTX DUE 09/01/33 MUNI BONDS · principal 50,000$40KNo change
FLORIDA HSG FIN 1 75 33SING HSG DUE 07/01/33XTRO MUNI BONDS · principal 50,000$40KNo change
SEMPRA 5 4 26 DUE 08/01/26 CORPORATE BONDS · principal 40,000$40KNo change
MORGAN STANLEY 5 25 DUE 11/24/25 CORPORATE BONDS · principal 40,000$40KNo change
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$39KNo change
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$38KNo change
BUTLER CNTY KANS UN 3 34GO UTX DUE 09/01/34 MUNI BONDS · principal 40,000$37KNo change
WELLTOWER INC 2 05 29 DUE 01/15/29 CORPORATE 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
RIVERNORTH/DOUBLELINE (OPP 4.75 PERP B) PREFERRED DEBT 2,000$37KNo change
THE WALT DISNEY CO 2 29 DUE 09/01/29 CORPORATE BONDS · principal 40,000$37KNo 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$36KNo change
BOSSIER PARISH LA P 4 29GO UTX DUE 03/01/29 MUNI BONDS · principal 35,000$35KNo change
MISSION TEX REDEV A 4 27TAXI TAX DUE 09/01/27 MUNI BONDS · principal 35,000$35KNo change
JPMORGAN CHASE B 4 55 25CD FDIC INS DUE 11/19/25US 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$35KNo change
SOUTHERN POWER CO (SO 4.15 12/01/25) CORPORATE BONDS · principal 35,000$35KNo change
WOORI AMERICA BA 4 25 25CD FDIC INS DUE 10/28/25US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
BANK OF AMERICA, 4 05 26CD FDIC INS DUE 02/09/26US CERTIFICATE DEPOSIT · principal 35,000$35KNew
LOWER COLO RIV AUTH 4 35ELEC UTIL DUE 05/15/35 MUNI BONDS · principal 35,000$35KNo change
CHAMBERS CNTY TE 3 75 28GO UTX DUE 09/01/28 MUNI BONDS · principal 35,000$35KNo change
CUMBERLAND CNTY PA 4 35SYST HLTH DUE 11/01/35XTRO MUNI BONDS · principal 35,000$35KNo change
FLUOR CORP (FLR 4.25 09/15/28) CORPORATE BONDS · principal 35,000$34KNo change
WICHITA KANS 2 33DB UTX DUE 06/01/33 MUNI BONDS · principal 40,000$34KNo change
GOLDMAN SACHS BA 4 75 25CD FDIC INS DUE 07/30/25US CERTIFICATE DEPOSIT · principal 32,000$32KNo change
LAKE CNTY ILL WTR & 2 30WRSR UTIL DUE 12/01/30 MUNI BONDS · principal 35,000$31KNo change
EXTRA SPACE STORA 5 5 30 DUE 07/01/30 CORPORATE BONDS · principal 30,000$31KNo change
RYDER SYSTEM INC 5 65 28 DUE 03/01/28 CORPORATE BONDS · principal 30,000$31KNo change
PHILIP MORRIS I 5 125 30 DUE 02/15/30 CORPORATE BONDS · principal 30,000$31KNo change
BLACKMAN TWP MICH 4 32GO UTX DUE 05/01/32 MUNI BONDS · principal 30,000$31KNo change
ENTERPRISE PRODU 5 05 26 DUE 01/10/26 CORPORATE BONDS · principal 30,000$30KNo change
UCF STAD CORP FLA 3 5 32FAC EDUC DUE 03/01/32OID MUNI BONDS · principal 30,000$30KNo change
JPMORGAN CHASE BA 4 6 25CD FDIC INS DUE 12/19/25US CERTIFICATE DEPOSIT · principal 30,000$30KNew
MICHIGAN ST 3 59 26GO UTX DUE 12/01/26TAXBL MUNI BONDS · principal 30,000$30KNo change
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
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
HARRIS CNTY TEX CUL 4 36SERV EDR DUE 11/15/36XTRO MUNI BONDS · principal 30,000$29KNo change
NORMAN OKLA 2 25 30GO UTX DUE 06/01/30OID MUNI BONDS · principal 30,000$28KNew
JPMORGAN CHASE & CO 2 28 DUE 11/14/28 CORPORATE BONDS · principal 30,000$27KNo change
US BANK NA CINCINNATI (USB 4.3 01/02/26 CD) CERTIFICATE DEPOSIT · principal 27,000$27KNew
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$26KNo change
BRYAN CNTY OKLA SCH 4 26EXCISE TAX DUE 12/01/26XTRO MUNI 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
NEW HANOVER CNT 3 125 33HOSP HLTH DUE 10/01/33OID XTRO 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
COLUMBUS CNTY N C L 4 32WRSR UTIL DUE 06/01/32 MUNI BONDS · principal 25,000$25KNo change
HARRIS CNTY TEX MUN 3 28GO UTX DUE 09/01/28 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
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$25KNo change
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP E) PREFERRED STOCK 1,100$25KNo change
THE TORONTO-DOM0 75 26F DUE 01/06/26 FOREIGN BONDS (US $) · principal 25,000$25KNo change
LANSING MICH TA 3 655 29DB UTX DUE 06/01/29TAXBL MUNI BONDS · principal 25,000$25KNo 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
FORD MOTOR CREDIT C 4 27 DUE 08/20/27 CORPORATE BONDS · principal 25,000$24KNo change
NEXTERA ENERGY 1 875 27 DUE 01/15/27 CORPORATE BONDS · principal 25,000$24KNo change
LOUISIANA PUB FACS 3 31SYST HLTH DUE 05/15/31OID XTRO MUNI BONDS · principal 25,000$24KNo change
UNIVERSITY OKLA REV 3 33PUB EDUC DUE 07/01/33OID MUNI BONDS · principal 25,000$23KNo 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
VEREIT OPERATING 2 2 28 DUE 06/15/28 CORPORATE BONDS · principal 25,000$23KNo change
PRUDENTIAL FINL 4 05 34 DUE 11/15/34 CORPORATE BONDS · principal 25,000$23KNo change

Largest 200 of 337 shown.

Total filed on the 13F, all lines: $105.0M.

Portfolio Sells Q1 2025 → Q2 2025
XLV SS Health Care Select Sector Reduce -0.7% 4.18% −0.68
QUAL iShares MSCI USA Quality Fac Reduce -16.4% 3.12% −0.60
BND Vanguard Total Bond Market Reduce -2.5% 3.14% −0.29
BNDX Vanguard Total Intl Bond ETF Reduce -0.6% 2.50% −0.15
XLRE SS Real Estate Select Sector Reduce -15.9% 0.50% −0.14
VLUE iShares MSCI USA Value Facto Reduce -7.8% 1.50% −0.13
VTV Vanguard Mrngstr Val ETF-Aui Reduce -13.8% 0.61% −0.13
XLB SS Materials Select Sector Reduce -16.7% 0.47% −0.12
AAPL Apple Inc. Reduce -62.6% 0.06% −0.12
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -11.2% 0.69% −0.11
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.11
IBDQ iShares Ibonds Dec 2025 Term Reduce -4.8% 0.92% −0.11
XLE SS Energy Select Sector Reduce -1.4% 0.54% −0.10
DFUS Dimensional US Eq MKT ETF Sold out 0.00% −0.10
DFAI Dimensional International Co. Sold out 0.00% −0.09
UNH Unitedhealth Group Inc. Sold out 0.00% −0.06
HD Home Depot Inc. Sold out 0.00% −0.06
EOG EOG Resources Inc. Sold out 0.00% −0.05
DFAE Dimensional Emerging Core Eq Sold out 0.00% −0.05
MA Mastercard Inc. Class A Sold out 0.00% −0.04
DFAS Dimensional US Small Cap ETF Sold out 0.00% −0.04
PFF iShares Preferred & Income S Reduce -0.9% 0.48% −0.04
FLRN SS SPDR BB Ig Float RT ETF Reduce -1.8% 0.38% −0.03
CAT Caterpillar Inc. Reduce -18.0% 0.30% −0.03
CL Colgate-Palmolive Co. Sold out 0.00% −0.03
CWI State Street SPDR MSCI Acwi Reduce -15.0% 0.20% −0.03
ACWI iShares MSCI Acwi ETF Reduce -31.6% 0.06% −0.03
FNDA Schwab Fndmntl US SM Co. ETF Reduce -2.7% 0.52% −0.02
ALLIANCEBERNSTEIN HLDXXXSUBMITTED FOR CASH EXP: 04/01/2025 Sold out 0.00% −0.02
DFCF Dimensional Core Fixed Inc. Sold out 0.00% −0.02
DGCB Dimensional Global Credit Sold out 0.00% −0.02
CSCO Cisco Systems Inc. Sold out 0.00% −0.02
XSLV Invesco S&P Smallcap Low Vol Reduce -30.3% 0.04% −0.02
ACN Accenture PLC Class A Sold out 0.00% −0.02
GS Goldman Sachs Group Inc. Sold out 0.00% −0.02
SHM SS SPDR N Ice St Muni ETF Sold out 0.00% −0.02
UNP Union Pacific Corp. Sold out 0.00% −0.02
BX Blackstone Inc. Reduce -2.1% 0.77% −0.01
MRK Merck & Co. Inc. Sold out 0.00% −0.01
DHR Danaher Corp. Sold out 0.00% −0.01
SBUX Starbucks Corp. Sold out 0.00% −0.01
DFS Discover Financial Services Sold out 0.00% −0.01
PLD Prologis Inc. Sold out 0.00% −0.00
ACWX iShares MSCI Acwi Ex US ETF Reduce -8.1% 0.06% −0.00
CVS CVS Health Corp. Reduce -55.6% 0.00% −0.00
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.00
F Ford Motor Co. Reduce -0.5% 0.06% +0.00
TSLA Tesla Inc. Reduce -10.6% 0.04% +0.00
MSFT Microsoft Corp. Reduce -13.5% 0.35% +0.02
MTUM iShares MSCI USA Momentum Fa Reduce -7.0% 2.69% +0.10

Portfolio Buys Q1 2025 → Q2 2025
XLK SS Technology Select Sector Add +1.8% 6.17% +0.90
IEFA iShares Core MSCI Eafe ETF Add +1.5% 11.12% +0.54
IEMG iShares Core MSCI Emerging Add +3.5% 4.80% +0.35
XLY SS Consumer Disc Select Sect Add +16.8% 1.88% +0.32
VEU Vanguard Ftse All-World Ex-U Add +127.1% 0.48% +0.28
XLC SS Comm Select Sector SPDR Add +10.8% 1.70% +0.25
IWM iShares Russell 2000 ETF Add +6.8% 2.43% +0.19
IBDX iShares Ibonds Dec 2032 TC Add +705.9% 0.19% +0.17
XLF SS Financial Select Sector Add +7.2% 2.74% +0.15
SOXX iShares Semiconductor ETF Add +0.1% 0.89% +0.14
VYMI Vanguard Int High DVD YLD Inc. Add +5.0% 1.87% +0.12
IBDW iShares Ibonds Dec 2031 Corp. Add +77.5% 0.29% +0.12
VTI VG Morningstar TS MKT ETF-US Add +3.3% 1.45% +0.10
MUB iShares National Muni Bond E Add +44.4% 0.38% +0.10
AMZN Amazon.com Inc. Add +6.7% 0.64% +0.09
IBDV iShares Ibonds Dec 2030 Corp. Add +26.9% 0.49% +0.08
IBDU iShares Ibonds Dec 2029 Term Add +18.1% 0.73% +0.08
NVDA Nvidia Corp. Add +3.5% 0.26% +0.08
COST Costco Wholesale Corp. Add +34.4% 0.24% +0.06
ITA iShares U.S. Aerospace & Def Add +4.0% 0.27% +0.05
IBDY iShares Ibonds Dec 2033 Corp. New 0.04% +0.04
VTWO Vanguard Russell 2000 ETF New 0.04% +0.04
WFC Wells Fargo & Co. Add +7.3% 0.35% +0.04
VWO Vanguard Ftse Emerging Marke Add +23333.3% 0.04% +0.04
IBMS ISHARESIBONDDEC2030MUNIBDETF Add +34.0% 0.16% +0.03
EAT Brinker International Inc. New 0.03% +0.03
IBDT iShares Ibonds Dec 2028 ETF Add +8.2% 1.28% +0.03
UBER Uber Technologies Inc. Add +12.5% 0.09% +0.02
LVMUY LVMH Moet Hennessy-Unsp ADR New 0.02% +0.02
DVYE iShares Emerging Markets Div Add +4.2% 0.76% +0.02
VWOB Vanguard Emerg MKTS Gov BND New 0.01% +0.01
EMB iShares JP Morgan Usd Emergi Add +5.3% 0.92% +0.01
COF Capital One Financial Corp. New 0.01% +0.01
VT Vanguard Tot World STK ETF Add +29.1% 0.03% +0.01
IBDS Ishrs Ibnds Dec 27 Corp. ETF Add +6.1% 0.94% −0.00
GM General Motors Co. Add +0.2% 0.08% −0.00
ENFR Alerian Energy Infrastructur Add +2.6% 0.28% −0.02
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +0.6% 0.46% −0.02
TIP iShares Tips Bond ETF Add +3.8% 0.47% −0.02
MCD McDonald's Corp. Add +0.7% 0.15% −0.02
IBMR iShares Ibonds Dec 2029 M BD Add +1.8% 0.55% −0.02
IBMO iShares Ibonds Dec 2026 Term Add +1.7% 0.68% −0.03
IBMP iShares Ibonds Dec 2027 Term Add +0.9% 0.60% −0.03
IBDR iShares Ibonds Dec 2026 Term Add +2.5% 1.29% −0.05
USIG iShares Broad Usd Investment Add +3.4% 2.17% −0.05
USMV iShares MSCI USA Min Vol Fac Add +4.1% 3.61% −0.08
XLP SS Consumer Staples Sel Sect Add +0.3% 1.30% −0.09
SCHD Schwab US DVD Equity ETF Add +3.1% 3.08% −0.28

Notes & Other Activity Q1 2025 → Q2 2025
GABELLI EQUITY TRUST (GAB 5 PERP G) PREFERRED STOCK Reduce -1.9% 10,300 $211K
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK Reduce -2.2% 8,997 $200K
TCM BANK, NTNL AS 5125CD FDIC INS DUE 04/04/25US CERTIFICATE DEPOSIT · principal Sold out 50,000 $50Kbefore exit
TEXAS MUN PWR AGY R 3 30PWR UTIL DUE 09/01/30 MUNI BONDS · principal New 50,000 $50K
MAINSTREET BANK 45525CD FDIC INS DUE 05/30/25US CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
BANK OF AMERICA, 4 05 26CD FDIC INS DUE 02/09/26US CERTIFICATE DEPOSIT · principal New 35,000 $35K
1ST SOURCE BANK 5225CD FDIC INS DUE 11/14/25US CERTIFICATE DEPOSIT · principal Sold out 34,000 $34Kbefore exit
DUKE ENERGY CORP 325 DUE 06/15/25 CORPORATE BONDS · principal Sold out 34,000 $34Kbefore exit
JPMORGAN CHASE BA 4 6 25CD FDIC INS DUE 12/19/25US CERTIFICATE DEPOSIT · principal New 30,000 $30K
NORMAN OKLA 2 25 30GO UTX DUE 06/01/30OID MUNI BONDS · principal New 30,000 $28K
US BANK NA CINCINNATI (USB 4.3 01/02/26 CD) CERTIFICATE DEPOSIT · principal New 27,000 $27K
UNIVERSITY N C CHAR 435 CALLED 100 EFF: 04/01/2025 MUNI BONDS · principal Sold out 23,000 $23Kbefore exit
ALLY BANK 3 3 25CD FDIC INS DUE 12/23/25US CERTIFICATE DEPOSIT · principal New 23,000 $23K
TRUIST BANK 4 3 26CD FDIC INS DUE 06/12/26US CERTIFICATE DEPOSIT · principal New 16,000 $16K
BANK OF AMERICA NA (BAC 5.05 09/29/25) CERTIFICATE DEPOSIT · principal New 15,000 $15K
BANK OF AMERICA, 5425CD FDIC INS DUE 05/22/25US CERTIFICATE DEPOSIT · principal Sold out 15,000 $15Kbefore exit
BANK HAPOALIM BM 5325CD FDIC INS DUE 05/20/25IL CERTIFICATE DEPOSIT · principal Sold out 15,000 $15Kbefore exit
BANK NOVA SCOTI545 25F DUE 06/12/25 FOREIGN BONDS (US $) · principal Sold out 15,000 $15Kbefore exit
BANK OF AMERICA, 44525CD FDIC INS DUE 06/11/25US CERTIFICATE DEPOSIT · principal Sold out 15,000 $15Kbefore exit
WELLTOWER INC 425 DUE 06/01/25 CORPORATE BONDS · principal Sold out 15,000 $15Kbefore exit
BARCLAYS BANK DEL 5125CD FDIC INS DUE 04/17/25US CERTIFICATE DEPOSIT · principal Sold out 12,000 $12Kbefore exit
CAPITAL ONE, NTNL 3125CD FDIC INS DUE 06/02/25US CERTIFICATE DEPOSIT · principal Sold out 10,000 $10Kbefore exit
FIRST CAROLINA B 43525CD FDIC INS DUE 06/26/25US CERTIFICATE DEPOSIT · principal Sold out 9,000 $9Kbefore exit
WELLS FARGO BANK 4 25 26CD FDIC INS DUE 03/05/26US CERTIFICATE DEPOSIT · principal New 9,000 $9K
WELLS FARGO BANK, 4 8 26 CALLED @100 EFF: 10/11/2025 CERTIFICATE DEPOSIT · principal New 7,000 $7K
BARCLAYS BANK DE 30525CD FDIC INS DUE 06/02/25US CERTIFICATE DEPOSIT · principal Sold out 5,000 $5Kbefore exit
DOV Dover Corp. COM Reduce -100.0% 0 $0

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