10Elms LLP

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), 10Elms LLP reported 167 stock positions worth $96.7 million. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 11.0% of the portfolio, followed by SS Technology Select Sector (XLK, 6.4%) and iShares Core MSCI Emerging (IEMG, 5.1%). Compared with Q2 2025, it opened 7 new positions, sold out of 6, added to 46 and reduced 25. The biggest buy was iShares Core MSCI Emerging (IEMG, shares +3%) and the biggest sale Vanguard Total Intl Bond ETF (BNDX, shares −4%).

Most Recent 13F
Q2 2026
Location
TULSA, OK
CIK
0002056650
Portfolio Value
$96.7M (Q3 2025)
SEC Filing
0002056650-25-000005 ↗ filed Nov 12, 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 Q2 2025 Q3 2025: $96.7M $96.7M Q3 2025 Q4 2025: $95.5M Q4 2025 Q1 2026: $145.0M Q1 2026 Q2 2026: $222.9M Q2 2026

Holdings 167 stocks · $96.7M
IEFA iShares Core MSCI Eafe ETF 10.98% 121,583 $10.6M Add +1.2%
XLK SS Technology Select Sector 6.42% 22,041 $6.2M Add +0.3%
IEMG iShares Core MSCI Emerging 5.07% 74,427 $4.9M Add +3.2%
XLV SS Health Care Select Sector 4.05% 28,159 $3.9M Add +0.8%
USMV iShares MSCI USA Min Vol Fac 3.58% 36,344 $3.5M Add +4.7%
SPY SS SPDR S&P 500 ETF Trust-US 3.02% 4,379 $2.9M No change
SCHD Schwab US DVD Equity ETF 3.00% 106,344 $2.9M Add +1.6%
BND Vanguard Total Bond Market 2.99% 38,935 $2.9M Add +1.1%
QUAL iShares MSCI USA Quality Fac 2.95% 14,654 $2.9M Reduce -4.8%
MTUM iShares MSCI USA Momentum Fa 2.67% 10,057 $2.6M Reduce -0.5%
IWM iShares Russell 2000 ETF 2.61% 10,437 $2.5M Add +2.7%
XLF SS Financial Select Sector 2.59% 46,463 $2.5M Reduce -1.7%
XLI SS Industrial Select Sector 2.45% 15,353 $2.4M Reduce -1.9%
BNDX Vanguard Total Intl Bond ETF 2.23% 43,672 $2.2M Reduce -4.2%
USIG iShares Broad Usd Investment 2.04% 37,708 $2.0M Reduce -1.1%
VYMI Vanguard Int High DVD YLD Inc. 2.00% 22,858 $1.9M Add +8.7%
XLY SS Consumer Disc Select Sect 1.90% 7,673 $1.8M Reduce -1.5%
XLC SS Comm Select Sector SPDR 1.71% 14,011 $1.7M Reduce -1.1%
VLUE iShares MSCI USA Value Facto 1.58% 12,234 $1.5M Add +2.7%
VTI VG Morningstar TS MKT ETF-US 1.56% 4,584 $1.5M Add +6.3%
IBDT iShares Ibonds Dec 2028 ETF 1.23% 46,656 $1.2M Add +2.9%
IBDR iShares Ibonds Dec 2026 Term 1.23% 48,909 $1.2M Add +1.7%
XLP SS Consumer Staples Sel Sect 1.20% 14,849 $1.2M Add +2.4%
EMB iShares JP Morgan Usd Emergi 0.97% 9,870 $940K Add +10.7%
SOXX iShares Semiconductor ETF 0.94% 3,365 $912K No change
IBDS Ishrs Ibnds Dec 27 Corp. ETF 0.92% 36,675 $893K Add +5.3%
BX Blackstone Inc. 0.82% 4,614 $788K No change
DVYE iShares Emerging Markets Div 0.80% 26,106 $775K Add +8.8%
IBDU iShares Ibonds Dec 2029 Term 0.79% 32,370 $760K Add +15.4%
IBDQ iShares Ibonds Dec 2025 Term 0.75% 28,782 $725K Reduce -12.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.71% 6,186 $690K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.69% 7,638 $666K Reduce -0.4%
IBMO iShares Ibonds Dec 2026 Term 0.65% 24,344 $625K Add +2.3%
EPD Enterprise Products Partners 0.64% 19,818 $620K No change
IBHE iShares Ibonds 2025 H/Y Inc. 0.63% 26,318 $611K Reduce -7.1%
KKR KKR & Co. Inc. 0.62% 4,594 $597K No change
AB Alliancebernstein Holding LP 0.61% 15,460 $591K No change
AMZN Amazon.com Inc. 0.60% 2,625 $576K No change
IBDV iShares Ibonds Dec 2030 Corp. 0.59% 25,941 $575K Add +29.4%
IBMP iShares Ibonds Dec 2027 Term 0.58% 21,994 $560K Add +3.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.57% 2,961 $552K Reduce -4.8%
VEU Vanguard Ftse All-World Ex-U 0.55% 7,438 $531K Add +14.4%
IBMQ iShares Ibonds Dec 2028 Muni 0.54% 20,360 $522K Add +6.3%
XLE SS Energy Select Sector 0.54% 5,842 $522K Add +2.3%
IBMR iShares Ibonds Dec 2029 M BD 0.54% 20,400 $521K Add +3.5%
GOOGL Alphabet Inc. Class A 0.53% 2,120 $515K No change
FNDA Schwab Fndmntl US SM Co. ETF 0.53% 16,458 $513K No change
TIP iShares Tips Bond ETF 0.49% 4,296 $478K Add +11.1%
PFF iShares Preferred & Income S 0.46% 14,114 $446K No change
XLB SS Materials Select Sector 0.45% 4,886 $438K Add +0.2%
EMLP First Trust North American E 0.45% 11,343 $434K No change
IBDW iShares Ibonds Dec 2031 Corp. 0.45% 20,400 $433K Add +61.9%
XLRE SS Real Estate Select Sector 0.44% 10,210 $430K Reduce -5.9%
IBMN iShares Ibonds Dec 2025 Term 0.44% 15,739 $422K Reduce -3.1%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.43% 5,115 $415K No change
GOOG Alphabet Inc. Class C 0.40% 1,600 $390K No change
MUB iShares National Muni Bond E 0.39% 3,550 $378K Add +9.2%
IBDX iShares Ibonds Dec 2032 TC 0.37% 13,850 $355K Add +102.2%
FLRN SS SPDR BB Ig Float RT ETF 0.36% 11,130 $343K No change
CAT Caterpillar Inc. 0.34% 699 $334K No change
WFC Wells Fargo & Co. 0.34% 3,971 $333K No change
BRK.B Berkshire Hathaway Inc. Class B 0.34% 660 $332K No change
MSFT Microsoft Corp. 0.34% 640 $332K No change
NVDA Nvidia Corp. 0.34% 1,773 $331K Add +19.8%
ITA iShares U.S. Aerospace & Def 0.32% 1,500 $314K Add +15.4%
IBB iShares Biotechnology ETF 0.30% 2,025 $292K No change
DTEC Alps Disruptive Technologies 0.29% 5,456 $279K No change
BWXT BWX Technologies Inc. 0.29% 1,506 $278K No change
IBHF iShares Ibond 2026 HY & Inc. 0.27% 11,015 $258K Add +3.8%
ENFR Alerian Energy Infrastructur 0.26% 7,800 $253K No change
PEP Pepsico Inc. 0.24% 1,639 $230K Reduce -6.6%
WMB Williams Cos Inc. 0.23% 3,549 $225K Add +12.7%
AVGO Broadcom Inc. 0.22% 650 $214K No change
KMI Kinder Morgan Inc. 0.22% 7,478 $212K Add +15.4%
COST Costco Wholesale Corp. 0.21% 215 $199K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.19% 640 $188K No change
PSX Phillips 66 0.19% 1,354 $184K No change
CWI State Street SPDR MSCI Acwi 0.18% 4,885 $171K Reduce -11.6%
IHAK iShares Cybersecurity & Tech 0.17% 3,200 $167K No change
LNT Alliant Energy Corp. 0.17% 2,388 $161K No change
IBMS ISHARESIBONDDEC2030MUNIBDETF 0.15% 5,670 $148K Add +2.7%
VTEB Vanguard Tax-Exempt Bond ETF 0.15% 2,830 $142K No change
KNG FT Vest S&P 500 DVD Arst TRG 0.14% 2,825 $139K No change
MCD McDonald's Corp. 0.14% 457 $139K Add +0.4%
IBDY iShares Ibonds Dec 2033 Corp. 0.14% 5,250 $138K Add +275.0%
IDV iShares International Select 0.13% 3,500 $128K No change
LNG Cheniere Energy Inc. 0.13% 541 $127K No change
JNJ Johnson & Johnson 0.13% 683 $127K No change
IBHG iShares Ibonds 2027 HY Inc. 0.12% 5,257 $118K Add +10.5%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.12% 562 $117K No change
UBER Uber Technologies Inc. 0.12% 1,150 $113K Add +27.8%
SU Suncor Energy Inc. 0.11% 2,650 $111K No change
LVMUY LVMH Moet Hennessy-Unsp ADR 0.11% 900 $110K Add +350.0%
TMUS T-Mobile US Inc. 0.11% 432 $103K Add +125.0%
WMT Walmart Inc. 0.11% 990 $102K No change
QCOM Qualcomm Inc. 0.10% 603 $100K No change
NVS Novartis AG-Sponsored ADR 0.09% 700 $90K No change
GM General Motors Co. 0.09% 1,458 $89K Add +0.2%
CMDY iShares Bloomberg Roll Selec 0.08% 1,500 $79K No change
INTF iShares International Equity 0.08% 2,069 $74K No change
V Visa Inc. Class A 0.07% 200 $68K Reduce -13.0%
SPHD Invesco S&P 500 High Dividen 0.07% 1,363 $67K No change
VIG Vanguard Dividend Apprec ETF 0.07% 300 $65K Reduce -25.0%
EE Excelerate Energy Inc. Class A 0.07% 2,500 $63K No change
BUD Anheuser-Busch Inbev-SPN ADR 0.06% 1,042 $62K No change
F Ford Motor Co. filed as FORD MTR CO 0.06% 5,183 $62K Reduce -2.5%
AAPL Apple Inc. 0.06% 243 $62K No change
ACWX iShares MSCI Acwi Ex US ETF 0.06% 933 $61K No change
ACWI iShares MSCI Acwi ETF 0.06% 432 $60K No change
NEM Newmont Corp. 0.06% 700 $59K New
AMLP Alerian MLP ETF 0.06% 1,150 $54K No change
CEG Constellation Energy 0.05% 156 $51K New
IBDZ ISHARESIBONDSDEC2034TMCORP 0.05% 1,900 $50K New
CARR Carrier Global Corp. 0.05% 800 $48K New
SUB iShares Short-Term National 0.05% 435 $46K No change
RTX RTX Corp. 0.04% 251 $42K No change
ICAGY Intl Consolidated-Spons ADR filed as INTERNATIONAL CONS AIRLS GROUP SPONSORED ADR 0.04% 4,000 $41K No change
VTWO Vanguard Russell 2000 ETF 0.04% 400 $39K No change
VWO Vanguard Ftse Emerging Marke 0.04% 703 $38K No change
SPHQ Invesco S&P 500 Quality ETF 0.04% 515 $38K No change
STLA Stellantis NV 0.04% 3,787 $35K No change
VT Vanguard Tot World STK ETF 0.04% 248 $34K Add +27.2%
XSLV Invesco S&P Smallcap Low Vol 0.03% 697 $32K Reduce -1.6%
BLSH Bullish 0.03% 500 $32K New
JPM JPMorgan Chase & Co. 0.03% 100 $32K No change
CVX Chevron Corp. 0.03% 200 $31K No change
PG The Procter & Gamble Co. 0.03% 200 $31K No change
LLY Eli Lilly & Co. 0.03% 40 $31K Add +33.3%
VTIP Vanguard Short-Term Tips 0.03% 594 $30K No change
COP Conocophillips 0.03% 279 $26K No change
XOM Exxon Mobil Corp. 0.03% 228 $26K No change
T AT&T Inc. 0.02% 834 $24K No change
SO The Southern Co. 0.02% 242 $23K No change
TSLA Tesla Inc. 0.02% 50 $22K Reduce -54.5%
MS Morgan Stanley 0.02% 137 $22K Reduce -4.2%
ABBV Abbvie Inc. 0.02% 94 $22K No change
C Citigroup Inc. 0.02% 201 $20K No change
AMT American Tower Corp. 0.02% 100 $19K Reduce -56.7%
DD Dupont DE Nemours Inc. 0.02% 229 $18K No change
PFE Pfizer Inc. 0.02% 700 $18K No change
EAT Brinker International Inc. 0.02% 140 $18K No change
IVV iShares Core S&P 500 ETF 0.02% 26 $17K No change
GSIE Goldman Sachs Activebeta Int 0.02% 392 $16K No change
KO The Coca-Cola Co. 0.02% 240 $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 No change
IBHI iShares Ibonds 2029 TM HY Inc. 0.01% 551 $13K Add +264.9%
SCHG Schwab US Large-Cap Growth 0.01% 392 $13K No change
IWF iShares Russell 1000 Growth 0.01% 22 $10K No change
IWD iShares Russell 1000 Value E 0.01% 38 $8K No change
MO Altria Group Inc. 0.01% 117 $8K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.01% 89 $8K No change
COF Capital One Financial Corp. 0.01% 31 $7K No change
SFM Sprouts Farmers Market Inc. 0.01% 60 $7K New
KMB Kimberly-Clark Corp. 0.01% 52 $6K No change
BKLN Invesco Senior Loan ETF 0.01% 300 $6K Reduce -34.1%
IWS iShares Russell Mid-Cap Valu 0.01% 37 $5K No change
APD Air Products & Chemicals Inc. 0.01% 18 $5K No change
EEMV iShares MSCI Emg MKT Min Vol 0.00% 44 $3K Reduce -53.2%
IBMT iShares Ibonds Dec 2031 Muni 0.00% 100 $3K New
IWR iShares Russell Mid-Cap ETF 0.00% 20 $2K No change
PHDG Invesco S&P 500 Downside Hed 0.00% 26 $968 No change
HYPD Hyperion Defi Inc. 0.00% 90 $862 No change
SPDW Ste STR SPDR PT DW Eu ETF 0.00% 12 $513 No change
EMGF iShares Emerging Markets Equ 0.00% 2 $113 No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.00% 2 $86 No change
GEM Goldman Sachs Activebeta Em 0.00% 1 $41 No change
Other holdings (330): bonds, preferreds, convertibles and warrants · $14.5M (not counted above)
SecurityClassShares / PrincipalValueChange
NORTH TEX TWY AUTH 4 39TOLL TRAN DUE 01/01/39 MUNI BONDS · principal 350,000$347KNo change
AUSTIN TEX CMNTY CO 4 35COLL EDUC DUE 08/01/35XTRO MUNI BONDS · principal 250,000$251KNo change
BURLESON TEX WTR & 4 30WRSR UTIL DUE 03/01/30 MUNI BONDS · principal 250,000$250KNo change
NEW YORK ST DORM AU 5 45UNIV EDUC DUE 07/01/45 MUNI BONDS · principal 250,000$241KNo change
BANCROFT FUND LTD (BCV 5.375 PERP A) PREFERRED STOCK 9,482$208KNo change
GABELLI EQUITY TRUST (GAB 5 PERP G) PREFERRED STOCK 9,800$207KReduce -4.8%
SEDGWICK CNTY KANS 4 29FAC BLDG DUE 08/01/29 MUNI BONDS · principal 200,000$200KNo change
GULF COAST WASTE DI 5 33 CALLED @100 EFF: 10/01/2025 MUNI BONDS · principal 200,000$200KNo change
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK 8,297$181KReduce -7.8%
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK 9,514$177KReduce -35.3%
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM 8,525$173KReduce -26.8%
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$149KNo 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$139KNo change
ILLINOIS HSG DEV 1 4 30SING HSG DUE 10/01/30XTRO MUNI BONDS · principal 150,000$137KNo change
TRUIST FINL COR 1 125 27 DUE 08/03/27 CORPORATE BONDS · principal 130,000$123KNo change
PHILIP MORRIS IN 1 75 30 DUE 11/01/30 CORPORATE BONDS · principal 135,000$119KNo change
THE TORONTO-DO5 156 28F DUE 01/10/28 FOREIGN BONDS (US $) · principal 115,000$118KNo change
GILEAD SCIENCES, 1 2 27 DUE 10/01/27 CORPORATE BONDS · principal 124,000$117KNo change
PUBLIC STORAGE 5 125 29 DUE 01/15/29 CORPORATE BONDS · principal 110,000$114KNo change
ABRDN INCOME CREDIT (ACP 5.25 PERP A) PREFERRED STOCK 5,000$107KReduce -31.5%
3M CO 2 375 29 DUE 08/26/29 CORPORATE BONDS · principal 110,000$103KNo change
PUBLIC STORAGE (PSA 5.15 PERP F) PREFERRED STOCK 4,500$103KNo 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
DALLAS TEX HOTEL OC 4 35SERV TAX DUE 08/15/35 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
AURORA ILL 3 125 32GO UTX DUE 12/30/32OID MUNI BONDS · principal 100,000$100KNo change
NEW YORK TRANSN DEV 4 35AIR TRAN DUE 07/01/35XTRO MUNI BONDS · principal 100,000$99KNo change
RAMAPO N Y LOC DEV 5 41REV LTX DUE 03/15/41 MUNI BONDS · principal 100,000$99KNo change
ARLINGTON TEX HIGHE 4 39CHAR EDUC DUE 08/15/39OID XTRO MUNI BONDS · principal 100,000$99KNo change
PHILLIPS 66 4 65 34 DUE 11/15/34 CORPORATE BONDS · principal 100,000$97KNo change
TRANSCANADA PI4 625 34F DUE 03/01/34 FOREIGN BONDS (US $) · principal 100,000$97KNo change
TENN VALLEY AUTHORITY (TVA V2.134 06/01/28 D) Corporate Bond 4,037$96KReduce -19.9%
TARRANT CNTY TEX CU 4 42SYST HLTH DUE 11/15/42XTRO MUNI BONDS · principal 100,000$94KNo change
COOK CNTY ILL SCH D 3 35GO LTX DUE 12/01/35 MUNI BONDS · principal 100,000$93KNo change
KANE COOK & DU PA 1 5 29GO UTX DUE 12/15/29 MUNI BONDS · principal 100,000$92KNo change
EVANSTON ILL 2 31GO UTX DUE 12/01/31 MUNI BONDS · principal 100,000$90KNo change
ELGIN ILL 2 25GO UTX DUE 12/15/25 MUNI BONDS · principal 90,000$90KNo change
ARAPAHOE CNTY CO 2 25 34GO UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$89KNo change
CHAMPAIGN & VERMILL 3 33GO UTX DUE 12/01/33 MUNI BONDS · principal 90,000$89KNo change
FRANKLIN BSP REALTY TRST (FBRT 7.5 PERP E) Equities 4,200$89KNo change
SAN DIEGO GAS & E 1 7 30 DUE 10/01/30 CORPORATE BONDS · principal 100,000$88KNo change
BANK OF MONTREA1 25 26F DUE 09/15/26 FOREIGN BONDS (US $) · principal 90,000$88KNo change
NEXTERA ENERGY CAPI 5 30 DUE 02/28/30 CORPORATE BONDS · principal 85,000$88KNo change
ENTERGY TEXAS, I 1 75 31 DUE 03/15/31 CORPORATE BONDS · principal 100,000$87KNo change
SAN LEANDRO CAL 3 625 27MUNI BLDG DUE 12/01/27OID XTRO MUNI BONDS · principal 85,000$85KNo change
VIRIDIAN MUN MGMT D 2 34DB UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$85KNo change
LOWE'S COMPANIES, 1 7 28 DUE 09/15/28 CORPORATE BONDS · principal 90,000$84KNo change
REALTY INCOME COR 1 8 33 DUE 03/15/33 CORPORATE BONDS · principal 100,000$83KNo change
HP INC (HPQ 6 09/15/41) CORPORATE BONDS · principal 80,000$83KNo change
PHILIP MORRIS I 5 125 27 DUE 11/17/27 CORPORATE BONDS · principal 80,000$82KNo change
ORLAND PARK ILL 3 46DB UTX DUE 12/01/46 MUNI BONDS · principal 100,000$79KNo change
MC HENRY CNTY ILL 1 5 26GO UTX DUE 12/30/26 MUNI BONDS · principal 80,000$78KNo change
CAROL STREAM ILL PK 5 37 CALLED @100 EFF: 01/16/2026 MUNI BONDS · principal 75,000$75KNo change
CHANNAHON ILL FIRE 3 32DB UTX DUE 01/01/32 MUNI BONDS · principal 75,000$74KNo change
THE GOLDMAN SACHS G 1 25 DUE 12/21/25 CORPORATE BONDS · principal 75,000$74KNo change
LAKE CNTY ILL WTR & 2 31WRSR UTIL DUE 12/01/31 MUNI BONDS · principal 80,000$72KNo change
MONTGOMERY CNTY TEX 3 32GO UTX DUE 09/01/32OID MUNI BONDS · principal 75,000$72KNo change
ILLINOIS HSG DEV 0 9 28SING HSG DUE 10/01/28XTRO MUNI BONDS · principal 75,000$69KNo change
VIRIDIAN MUN MGMT D 1 29DB UTX DUE 12/01/29OID MUNI BONDS · principal 75,000$67KNo change
CHARLOTTE N C 2 34GO UTX DUE 06/01/34 MUNI BONDS · principal 75,000$66KNo change
TX UNIV SYS BRD RGTS (TX TXSHGR 3 03/15/2034) MUNI BONDS · principal 65,000$63KNo change
LOWER COLO RIV AUTH 4 40ELEC UTIL DUE 05/15/40OID ASSURED GUARANTY MUN MUNI BONDS · principal 62,000$61KNo change
NORTH TEX TWY AUTH 0 28TOLL TRAN DUE 01/01/28OID ASSURED GUARANTY COR MUNI BONDS · principal 65,000$61KNo change
PHILLIPS 66 (PSX 1.3 02/15/26) CORPORATE BONDS · principal 60,000$59KNo change
THE GOLDMAN SACH 4 75 33 DUE 08/15/33 CORPORATE BONDS · principal 57,000$57KNo 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
BRANCH CNTY MICH BL 4 32REV UTX DUE 05/01/32 MUNI BONDS · principal 50,000$52KNo change
NEXTERA ENERGY CA 1 9 28 DUE 06/15/28 CORPORATE BONDS · principal 55,000$52KNo change
CHAMBERS CNTY TEX I 4 29GO UTX DUE 09/01/29 MUNI BONDS · principal 50,000$51KNo change
PUBLIC STORAGE (PSA 4.625 PERP L) COM 2,600$51KNo change
ARIZONA INDL DEV AU 4 28CHAR EDUC DUE 11/01/28XTRO MUNI BONDS · principal 50,000$51KNo change
KENTUCKY INC KY PUB 4 29OILG IDR DUE 08/01/29XTRO 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
ONEOK, INC 5 55 26 DUE 11/01/26 CORPORATE 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
ILLINOIS FIN AUTH R 5 36EXCISE TAX DUE 12/01/36 MUNI BONDS · principal 50,000$50KNo change
SOUTH BROWARD HO 3 25 31SYST HLTH DUE 05/01/31OID XTRO MUNI BONDS · principal 50,000$50KNo change
TEXAS MUN PWR AGY R 3 30PWR UTIL DUE 09/01/30 MUNI BONDS · principal 50,000$50KNo change
HOUSTON TEX INDPT S 4 38GO LTX DUE 02/15/38 MUNI BONDS · principal 50,000$50KNo change
HARRIS CNTY TEX HOS 4 34DIST HLTH DUE 02/15/34 MUNI BONDS · principal 50,000$50KNo change
GRAND PRAIRIE T 3 125 30GO LTX DUE 02/15/30OID MUNI BONDS · principal 50,000$50KNew
BANK OF NOVA SCOTIA NOTE 4.500%12/1 · principal 50,000$50KNo change
KELLER TEX 2 26GO LTX DUE 02/15/26 MUNI BONDS · principal 50,000$50KNo change
OKLAHOMA DEV FI 4 851 45COMB IDR DUE 02/01/45TAXBL MUNI BONDS · principal 50,000$50KNo change
CBOE GLOBAL MARK 3 65 27 DUE 01/12/27 CORPORATE BONDS · principal 50,000$50KNo change
THE ALLSTATE COR 0 75 25 DUE 12/15/25 CORPORATE BONDS · principal 50,000$50KNo change
ROCKETT TEX SPL U 3 1 30WTR UTIL DUE 07/10/30ASSURED GUARANTY MUN MUNI BONDS · principal 50,000$50KNo change
KERRVILLE TEX 3 375 32DB LTX DUE 08/15/32 MUNI BONDS · principal 50,000$50KNo change
BP CAPITAL MARKETS PLC (BPLN 3.723 11/28/28) FOREIGN BONDS (US $) · principal 50,000$49KNo change
BAKER HUGHES LLC/CO-OBL (BKR 3.337 12/15/27) CORPORATE BONDS · principal 50,000$49KNo change
LUBBOCK COOPER TEX 2 27GO UTX DUE 02/15/27 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$49KNo change
JOHNSON CNTY KAN 2 25 29WTR UTIL DUE 07/01/29OID MUNI BONDS · principal 50,000$48KNo change
CITIGROUP INC 3 27 DUE 12/31/27 CORPORATE BONDS · principal 50,000$48KNo change
BRIDGESTONE MUN UTI 3 33DB UTX DUE 05/01/33OID MUNI BONDS · principal 50,000$48KNo change
GENERAL ELECTRIC CO (GE 4 06/15/32 NOT2) CORPORATE BONDS · principal 50,000$47KNo change
MIDWEST CITY OKL 4 25 38RTL IDR DUE 02/01/38XTRO TAXBL MUNI BONDS · principal 50,000$47KNo change
SIMON PROPERTY GROUP LP (SPG 2.45 09/13/29) CORPORATE BONDS · principal 50,000$47KNo change
PROVIDENCE ST 2 532 29 DUE 10/01/29 CORPORATE BONDS · principal 50,000$47KNo change
TULSA CNTY OKLA IND 4 29FAC BLDG DUE 02/01/29XTRO MUNI BONDS · principal 45,000$47KNo change
NORTH CAROLINA H 1 45 30SING HSG DUE 01/01/30XTRO MUNI BONDS · principal 50,000$46KNo change
JOHNSTON CNTY N C 1 5 30GO UTX DUE 02/01/30 MUNI BONDS · principal 50,000$46KNo change
L3HARRIS TECHNOLO 5 4 27 DUE 01/15/27 CORPORATE BONDS · principal 45,000$46KNo change
FORT BEND CNTY T 2 75 35GO UTX DUE 09/01/35OID MUNI BONDS · principal 50,000$45KNo change
THE GOLDMAN SACHS G 2 29 DUE 08/30/29 CORPORATE BONDS · principal 50,000$45KNo 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
DALLAS TEX WTRW 3 125 32WRSR UTIL DUE 10/01/32OID MUNI BONDS · principal 45,000$45KNo change
FLORIDA HSG FIN COR 2 32SING HSG DUE 07/01/32XTRO MUNI BONDS · principal 50,000$45KNo 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$43KNo change
LAKES FRESH WTR SUP 2 33GO UTX DUE 09/01/33 MUNI BONDS · principal 50,000$42KNo change
FLORIDA HSG FIN 1 75 33SING HSG DUE 07/01/33XTRO MUNI BONDS · principal 50,000$42KNo change
OKLAHOMA DEV FIN AU 4 29IMPT EDUC DUE 06/01/29XTRO MUNI BONDS · principal 40,000$42KNo 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
SEMPRA 5 4 26 DUE 08/01/26 CORPORATE BONDS · principal 40,000$40KNo change
VAN ALSTYNE TEX 2 36DB LTX DUE 02/15/36 MUNI BONDS · principal 50,000$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
WELLS FARGO BANK 4 25 26CD FDIC INS DUE 03/05/26US CERTIFICATE DEPOSIT · principal 39,000$39KAdd +333.3%
BUTLER CNTY KANS UN 3 34GO UTX DUE 09/01/34 MUNI BONDS · principal 40,000$38KNo 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
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
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
MORGAN STANLEY PR 4 8 26CD FDIC INS DUE 07/10/26US CERTIFICATE DEPOSIT · principal 35,000$35KNew
BOSSIER PARISH LA P 4 29GO UTX DUE 03/01/29 MUNI BONDS · principal 35,000$35KNo change
WICHITA KANS 2 33DB UTX DUE 06/01/33 MUNI BONDS · principal 40,000$35KNo change
BANK OF AMERICA, 4 15 26CD FDIC INS DUE 05/27/26US CERTIFICATE DEPOSIT · principal 35,000$35KNew
LOWER COLO RIV AUTH 4 35ELEC UTIL DUE 05/15/35 MUNI BONDS · principal 35,000$35KNo change
MORGAN STANLEY BANK 4 26CD FDIC INS DUE 04/30/26US CERTIFICATE DEPOSIT · principal 35,000$35KNew
BANK OF AMERICA, 4 05 26CD FDIC INS DUE 02/09/26US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
MISSION TEX REDEV A 4 27TAXI TAX DUE 09/01/27 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
WOORI AMERICA BA 4 25 25CD FDIC INS DUE 10/28/25US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
SOUTHERN POWER CO (SO 4.15 12/01/25) CORPORATE BONDS · principal 35,000$35KNo change
WELLS FARGO BANK NA (WFC 3.85 06/22/26) CERTIFICATE DEPOSIT · principal 35,000$35KNew
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$35KNo change
LAKE CNTY ILL WTR & 2 30WRSR UTIL DUE 12/01/30 MUNI BONDS · principal 35,000$32KNo 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
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
HARRIS CNTY TEX CUL 4 36SERV EDR DUE 11/15/36XTRO MUNI 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
NORMAN OKLA 2 25 30GO UTX DUE 06/01/30OID MUNI BONDS · principal 30,000$29KNo change
JPMORGAN CHASE & CO 2 28 DUE 11/14/28 CORPORATE BONDS · principal 30,000$28KNo change
US BANK NA CINCINNATI (USB 4.3 01/02/26 CD) CERTIFICATE DEPOSIT · principal 27,000$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$26KNo 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
CAROL STREAM ILL PK 5 37 CALLED @100 EFF: 01/01/2026 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
TEXAS ST 4 631 33GO UTX DUE 04/01/33XTRO TAXBL MUNI 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
KALAMAZOO MICH HOSP 4 36SYST HLTH DUE 05/15/36XTRO MUNI BONDS · principal 25,000$25KNo change
HOLLAND MICH 3 35 27GO LTX DUE 12/01/27TAXBL 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
THE TORONTO-DOM0 75 26F DUE 01/06/26 FOREIGN BONDS (US $) · principal 25,000$25KNo change
GEORGIA ST HSG & 2 45 28SING HSG DUE 12/01/28XTRO MUNI BONDS · principal 25,000$25KNo change
LANSING MICH TA 3 655 29DB UTX DUE 06/01/29TAXBL MUNI BONDS · principal 25,000$25KNo change
LOUISIANA PUB FACS 3 31SYST HLTH DUE 05/15/31OID XTRO MUNI BONDS · principal 25,000$24KNo change
NEXTERA ENERGY 1 875 27 DUE 01/15/27 CORPORATE BONDS · principal 25,000$24KNo change
UNIVERSITY OKLA REV 3 33PUB EDUC DUE 07/01/33OID MUNI BONDS · principal 25,000$24KNo change
UNIVERSITY OKLA REV 4 40PUB EDUC DUE 07/01/40OID MUNI BONDS · principal 25,000$24KNo change
FORD MOTOR CREDIT C 4 27 DUE 08/20/27 CORPORATE BONDS · principal 25,000$24KNo change
OKLAHOMA ST WTR RES 3 35WRSR UTIL DUE 10/01/35OID XTRO MUNI BONDS · principal 25,000$24KNo change
THE GOLDMAN SACH 1 55 27 DUE 07/29/27 CORPORATE BONDS · principal 25,000$24KNo 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
GABELLI DVD & INC TR (GDV 5.375 PERP H) PREFERRED STOCK 1,000$23KNo change
ALLY BANK 3 3 25CD FDIC INS DUE 12/23/25US CERTIFICATE DEPOSIT · principal 23,000$23KNo change
UNION CNTY N C 1 375 30WRSR UTIL DUE 06/01/30 MUNI BONDS · principal 25,000$23KNo change
PUBLIC STORAGE (PSA 5.05 PERP G) PREFERRED STOCK 1,000$22KNo change
BANK OF AMERICA, NT 4 26CD FDIC INS DUE 01/02/26US CERTIFICATE DEPOSIT · principal 22,000$22KNo change

Largest 200 of 330 shown.

Total filed on the 13F, all lines: $111.2M.

Portfolio Sells Q2 2025 → Q3 2025
BNDX Vanguard Total Intl Bond ETF Reduce -4.2% 2.23% −0.27
QUAL iShares MSCI USA Quality Fac Reduce -4.8% 2.95% −0.17
IBDQ iShares Ibonds Dec 2025 Term Reduce -12.3% 0.75% −0.17
XLF SS Financial Select Sector Reduce -1.7% 2.59% −0.16
USIG iShares Broad Usd Investment Reduce -1.1% 2.04% −0.14
XLI SS Industrial Select Sector Reduce -1.9% 2.45% −0.11
IBHE iShares Ibonds 2025 H/Y Inc. Reduce -7.1% 0.63% −0.10
XLRE SS Real Estate Select Sector Reduce -5.9% 0.44% −0.05
IBMN iShares Ibonds Dec 2025 Term Reduce -3.1% 0.44% −0.05
O Realty Income Corp. Sold out 0.00% −0.04
VTV Vanguard Mrngstr Val ETF-Aui Reduce -4.8% 0.57% −0.04
INDA iShares MSCI India ETF Sold out 0.00% −0.04
AMT American Tower Corp. Reduce -56.7% 0.02% −0.04
BBAR Bbva Argentina SA-ADR Sold out 0.00% −0.04
MTUM iShares MSCI USA Momentum Fa Reduce -0.5% 2.67% −0.03
CWI State Street SPDR MSCI Acwi Reduce -11.6% 0.18% −0.02
VIG Vanguard Dividend Apprec ETF Reduce -25.0% 0.07% −0.02
V Visa Inc. Class A Reduce -13.0% 0.07% −0.02
PEP Pepsico Inc. Reduce -6.6% 0.24% −0.02
TSLA Tesla Inc. Reduce -54.5% 0.02% −0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -0.4% 0.69% −0.01
BKLN Invesco Senior Loan ETF Reduce -34.1% 0.01% −0.00
EEMV iShares MSCI Emg MKT Min Vol Reduce -53.2% 0.00% −0.00
EVRG Evergy Inc. Sold out 0.00% −0.00
XSLV Invesco S&P Smallcap Low Vol Reduce -1.6% 0.03% −0.00
CVS CVS Health Corp. Sold out 0.00% −0.00
ALL Allstate Corp. Sold out 0.00% −0.00
F Ford Motor Co. Reduce -2.5% 0.06% +0.00
MS Morgan Stanley Reduce -4.2% 0.02% +0.00
XLC SS Comm Select Sector SPDR Reduce -1.1% 1.71% +0.01
XLY SS Consumer Disc Select Sect Reduce -1.5% 1.90% +0.02

Portfolio Buys Q2 2025 → Q3 2025
IEMG iShares Core MSCI Emerging Add +3.2% 5.07% +0.27
XLK SS Technology Select Sector Add +0.3% 6.42% +0.25
IWM iShares Russell 2000 ETF Add +2.7% 2.61% +0.18
IBDX iShares Ibonds Dec 2032 TC Add +102.2% 0.37% +0.17
IBDW iShares Ibonds Dec 2031 Corp. Add +61.9% 0.45% +0.15
VYMI Vanguard Int High DVD YLD Inc. Add +8.7% 2.00% +0.13
IBDV iShares Ibonds Dec 2030 Corp. Add +29.4% 0.59% +0.11
IBDY iShares Ibonds Dec 2033 Corp. Add +275.0% 0.14% +0.10
VTI VG Morningstar TS MKT ETF-US Add +6.3% 1.56% +0.10
LVMUY LVMH Moet Hennessy-Unsp ADR Add +350.0% 0.11% +0.09
VLUE iShares MSCI USA Value Facto Add +2.7% 1.58% +0.09
NVDA Nvidia Corp. Add +19.8% 0.34% +0.08
VEU Vanguard Ftse All-World Ex-U Add +14.4% 0.55% +0.06
NEM Newmont Corp. New 0.06% +0.06
IBDU iShares Ibonds Dec 2029 Term Add +15.4% 0.79% +0.06
TMUS T-Mobile US Inc. Add +125.0% 0.11% +0.06
EMB iShares JP Morgan Usd Emergi Add +10.7% 0.97% +0.06
CEG Constellation Energy New 0.05% +0.05
ITA iShares U.S. Aerospace & Def Add +15.4% 0.32% +0.05
IBDZ ISHARESIBONDSDEC2034TMCORP New 0.05% +0.05
CARR Carrier Global Corp. New 0.05% +0.05
DVYE iShares Emerging Markets Div Add +8.8% 0.80% +0.04
BLSH Bullish New 0.03% +0.03
UBER Uber Technologies Inc. Add +27.8% 0.12% +0.02
TIP iShares Tips Bond ETF Add +11.1% 0.49% +0.02
MUB iShares National Muni Bond E Add +9.2% 0.39% +0.01
WMB Williams Cos Inc. Add +12.7% 0.23% +0.01
GM General Motors Co. Add +0.2% 0.09% +0.01
IBHI iShares Ibonds 2029 TM HY Inc. Add +264.9% 0.01% +0.01
KMI Kinder Morgan Inc. Add +15.4% 0.22% +0.01
VT Vanguard Tot World STK ETF Add +27.2% 0.04% +0.01
SFM Sprouts Farmers Market Inc. New 0.01% +0.01
LLY Eli Lilly & Co. Add +33.3% 0.03% +0.01
IBHG iShares Ibonds 2027 HY Inc. Add +10.5% 0.12% +0.00
IBMT iShares Ibonds Dec 2031 Muni New 0.00% +0.00
XLE SS Energy Select Sector Add +2.3% 0.54% +0.00
IBMQ iShares Ibonds Dec 2028 Muni Add +6.3% 0.54% −0.00
MCD McDonald's Corp. Add +0.4% 0.14% −0.00
IBMS ISHARESIBONDDEC2030MUNIBDETF Add +2.7% 0.15% −0.00
IBHF iShares Ibond 2026 HY & Inc. Add +3.8% 0.27% −0.01
IBMR iShares Ibonds Dec 2029 M BD Add +3.5% 0.54% −0.01
IBDS Ishrs Ibnds Dec 27 Corp. ETF Add +5.3% 0.92% −0.01
IBMP iShares Ibonds Dec 2027 Term Add +3.0% 0.58% −0.02
XLB SS Materials Select Sector Add +0.2% 0.45% −0.02
IBMO iShares Ibonds Dec 2026 Term Add +2.3% 0.65% −0.03
USMV iShares MSCI USA Min Vol Fac Add +4.7% 3.58% −0.04
IBDT iShares Ibonds Dec 2028 ETF Add +2.9% 1.23% −0.05
IBDR iShares Ibonds Dec 2026 Term Add +1.7% 1.23% −0.06
SCHD Schwab US DVD Equity ETF Add +1.6% 3.00% −0.07
XLP SS Consumer Staples Sel Sect Add +2.4% 1.20% −0.10

Notes & Other Activity Q2 2025 → Q3 2025
GABELLI EQUITY TRUST (GAB 5 PERP G) PREFERRED STOCK Reduce -4.8% 9,800 $207K
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK Reduce -7.8% 8,297 $181K
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK Reduce -35.3% 9,514 $177K
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM Reduce -26.8% 8,525 $173K
ABRDN INCOME CREDIT (ACP 5.25 PERP A) PREFERRED STOCK Reduce -31.5% 5,000 $107K
INTEL CORP (INTC 3.7 07/29/25) CORPORATE BONDS · principal Sold out 100,000 $100Kbefore exit
TENN VALLEY AUTHORITY (TVA V2.134 06/01/28 D) Corporate Bond Reduce -19.9% 4,037 $96K
WELLS FARGO & CO 5 9 28 DUE 08/14/28 CORPORATE BONDS · principal Sold out 89,000 $89Kbefore exit
HARRIS CNTY TEX MUN 2 25DB UTX DUE 09/01/25 MUNI BONDS · principal Sold out 70,000 $70Kbefore exit
GRAND PRAIRIE T 3 125 30GO LTX DUE 02/15/30OID MUNI BONDS · principal New 50,000 $50K
ROYAL BANK OF CA5 2 28F DUE 04/17/28 FOREIGN BONDS (US $) · principal Sold out 50,000 $50Kbefore exit
WELLS FARGO BANK 4 25 26CD FDIC INS DUE 03/05/26US CERTIFICATE DEPOSIT · principal Add +333.3% 39,000 $39K
MORGAN STANLEY PR 4 8 26CD FDIC INS DUE 07/10/26US CERTIFICATE DEPOSIT · principal New 35,000 $35K
BANK OF AMERICA, 4 15 26CD FDIC INS DUE 05/27/26US CERTIFICATE DEPOSIT · principal New 35,000 $35K
MORGAN STANLEY BANK 4 26CD FDIC INS DUE 04/30/26US CERTIFICATE DEPOSIT · principal New 35,000 $35K
JPMORGAN CHASE B 4 55 25CD FDIC INS DUE 11/19/25US CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
SANTANDER BANK, 4 35 25CD FDIC INS DUE 08/15/25US CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
WELLS FARGO BANK NA (WFC 3.85 06/22/26) CERTIFICATE DEPOSIT · principal New 35,000 $35K
TRUIST BANK 4 25 25CD FDIC INS DUE 09/05/25US CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
GOLDMAN SACHS BA 4 75 25CD FDIC INS DUE 07/30/25US CERTIFICATE DEPOSIT · principal Sold out 32,000 $32Kbefore exit
JPMORGAN CHASE BA 4 6 25CD FDIC INS DUE 12/19/25US CERTIFICATE DEPOSIT · principal Sold out 30,000 $30Kbefore exit
GABELLI EQUITY TRUST (GAB 5 PERP K) PREFERRED STOCK Reduce -61.5% 1,000 $21K
RIVERNORTH/DOUBLELINE (OPP 4.75 PERP B) PREFERRED DEBT Reduce -50.0% 1,000 $19K
WALLER CNTY TEX MUN 4 35GO UTX DUE 09/01/35 MUNI BONDS · principal New 15,000 $15K
BANK OF AMERICA NA (BAC 5.05 09/29/25) CERTIFICATE DEPOSIT · principal Sold out 15,000 $15Kbefore exit
NEXTERA ENERGY 5 749 25 DUE 09/01/25 CORPORATE BONDS · principal Sold out 15,000 $15Kbefore exit
GAMCO NATURAL RE GOLD (GNT 5.2 PERP A) PREFERRED STOCK Sold out 703 $15Kbefore exit
WELLS FARGO BANK 5 25 25CD FDIC INS DUE 09/19/25US CERTIFICATE DEPOSIT · principal Sold out 13,000 $13Kbefore exit
GABELLI UTILITY TRUST (GUT 5.375 PERP C) PREFERRED DEBT Sold out 500 $11Kbefore exit
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP E) PREFERRED STOCK Reduce -54.5% 500 $11K
OKLAHOMA ST MUN 3 125XXXSUBMITTED FOR CASH EXP: 10/03/2025 REORG BOND · principal New 10,000 $8K
WELLS FARGO BANK NA (WFC 4.3 06/09/26) CERTIFICATE DEPOSIT · principal New 8,000 $8K
UBS BANK USA 3 4 25CD FDIC INS DUE 09/02/25US CERTIFICATE DEPOSIT · principal Sold out 8,000 $8Kbefore exit
OKLAHOMA ST MUN 3 125 41ELEC UTIL DUE 01/01/41OID MUNI BONDS · principal Sold out 10,000 $8Kbefore exit
CITIBANK, N A 4 2 26CD FDIC INS DUE 03/31/26US CERTIFICATE DEPOSIT · principal New 7,000 $7K

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