10Elms LLP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), 10Elms LLP reported 162 stock positions worth $95.5 million. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 11.5% of the portfolio, followed by SS Technology Select Sector (XLK, 6.5%) and iShares Core MSCI Emerging (IEMG, 5.3%). Compared with Q3 2025, it opened 3 new positions, sold out of 9, added to 27 and reduced 33. The biggest buy was iShares Core MSCI Eafe ETF (IEFA, shares +1%) and the biggest sale an exit from iShares Ibonds Dec 2025 Term (IBDQ).

Most Recent 13F
Q2 2026
Location
TULSA, OK
CIK
0002056650
Portfolio Value
$95.5M (Q4 2025)
SEC Filing
0002056650-26-000001 ↗ filed Feb 13, 2026

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 Q3 2025 Q4 2025: $95.5M $95.5M Q4 2025 Q1 2026: $145.0M Q1 2026 Q2 2026: $222.9M Q2 2026

Holdings 162 stocks · $95.5M
IEFA iShares Core MSCI Eafe ETF 11.53% 123,178 $11.0M Add +1.3%
XLK SS Technology Select Sector 6.52% 43,248 $6.2M Reduce -1.9%
IEMG iShares Core MSCI Emerging 5.26% 74,793 $5.0M Add +0.5%
XLV SS Health Care Select Sector 4.39% 27,087 $4.2M Reduce -3.8%
USMV iShares MSCI USA Min Vol Fac 3.30% 33,485 $3.2M Reduce -7.9%
BND Vanguard Total Bond Market 2.99% 38,606 $2.9M Reduce -0.8%
SPY SS SPDR S&P 500 ETF Trust-US 2.91% 4,072 $2.8M Reduce -7.0%
XLF SS Financial Select Sector 2.88% 50,273 $2.8M Add +8.2%
QUAL iShares MSCI USA Quality Fac 2.77% 13,308 $2.6M Reduce -9.2%
SCHD Schwab US DVD Equity ETF 2.72% 94,613 $2.6M Reduce -11.0%
IWM iShares Russell 2000 ETF 2.68% 10,404 $2.6M Reduce -0.3%
MTUM iShares MSCI USA Momentum Fa 2.56% 9,786 $2.4M Reduce -2.7%
XLI SS Industrial Select Sector 2.44% 15,003 $2.3M Reduce -2.3%
VYMI Vanguard Int High DVD YLD Inc. 2.27% 24,078 $2.2M Add +5.3%
BNDX Vanguard Total Intl Bond ETF 2.20% 43,557 $2.1M Reduce -0.3%
USIG iShares Broad Usd Investment 2.02% 37,329 $1.9M Reduce -1.0%
XLY SS Consumer Disc Select Sect 1.92% 15,376 $1.8M Add +0.2%
VLUE iShares MSCI USA Value Facto 1.77% 12,361 $1.7M Add +1.0%
XLC SS Comm Select Sector SPDR 1.77% 14,341 $1.7M Add +2.4%
VTI VG Morningstar TS MKT ETF-US 1.56% 4,439 $1.5M Reduce -3.2%
IBDT iShares Ibonds Dec 2028 ETF 1.24% 46,656 $1.2M No change
XLP SS Consumer Staples Sel Sect 1.21% 14,849 $1.2M No change
IBDR iShares Ibonds Dec 2026 Term 1.17% 46,299 $1.1M Reduce -5.3%
SOXX iShares Semiconductor ETF 1.01% 3,215 $968K Reduce -4.5%
EMB iShares JP Morgan Usd Emergi 1.00% 9,877 $951K Add +0.1%
IBDS Ishrs Ibnds Dec 27 Corp. ETF 0.93% 36,565 $888K Reduce -0.3%
DVYE iShares Emerging Markets Div 0.85% 26,106 $813K No change
IBDU iShares Ibonds Dec 2029 Term 0.83% 34,070 $797K Add +5.3%
BX Blackstone Inc. 0.74% 4,614 $711K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.73% 6,306 $695K Add +1.9%
GOOGL Alphabet Inc. Class A 0.69% 2,120 $664K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.68% 15,146 $647K Reduce -0.8%
EPD Enterprise Products Partners 0.67% 19,818 $635K No change
IBMO iShares Ibonds Dec 2026 Term 0.65% 24,344 $624K No change
IBDV iShares Ibonds Dec 2030 Corp. 0.64% 27,641 $610K Add +6.5%
AMZN Amazon.com Inc. 0.63% 2,625 $606K No change
AB Alliancebernstein Holding LP 0.62% 15,460 $595K No change
IBMP iShares Ibonds Dec 2027 Term 0.60% 22,694 $576K Add +3.2%
VEU Vanguard Ftse All-World Ex-U 0.59% 7,601 $559K Add +2.2%
VTV Vanguard Mrngstr Val ETF-Aui 0.55% 2,761 $527K Reduce -6.8%
IBMQ iShares Ibonds Dec 2028 Muni 0.55% 20,360 $521K No change
KKR KKR & Co. Inc. 0.54% 4,074 $519K Reduce -11.3%
IBMR iShares Ibonds Dec 2029 M BD 0.54% 20,400 $519K No change
FNDA Schwab Fndmntl US SM Co. ETF 0.54% 16,294 $513K Reduce -1.0%
XLE SS Energy Select Sector 0.53% 11,324 $506K Reduce -3.1%
GOOG Alphabet Inc. Class C 0.53% 1,600 $502K No change
IBDW iShares Ibonds Dec 2031 Corp. 0.49% 22,200 $470K Add +8.8%
XLB SS Materials Select Sector 0.47% 9,862 $447K Add +0.9%
TIP iShares Tips Bond ETF 0.47% 4,061 $446K Reduce -5.5%
PFFD Global X US Preferred ETF 0.46% 23,010 $435K New
EMLP First Trust North American E 0.45% 11,343 $430K No change
XLRE SS Real Estate Select Sector 0.44% 10,480 $423K Add +2.6%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.43% 5,085 $410K Reduce -0.6%
CAT Caterpillar Inc. 0.42% 699 $400K No change
IBDX iShares Ibonds Dec 2032 TC 0.40% 15,150 $387K Add +9.4%
WFC Wells Fargo & Co. 0.39% 3,971 $370K No change
MUB iShares National Muni Bond E 0.39% 3,450 $370K Reduce -2.8%
FLRN SS SPDR BB Ig Float RT ETF 0.36% 11,130 $342K No change
IBB iShares Biotechnology ETF 0.36% 2,025 $342K No change
BRK.B Berkshire Hathaway Inc. Class B 0.35% 660 $332K No change
NVDA Nvidia Corp. 0.35% 1,773 $331K No change
ITA iShares U.S. Aerospace & Def 0.34% 1,500 $322K No change
MSFT Microsoft Corp. 0.32% 640 $310K No change
DTEC Alps Disruptive Technologies 0.28% 5,456 $265K No change
BWXT BWX Technologies Inc. 0.27% 1,506 $260K No change
IBHF iShares Ibond 2026 HY & Inc. 0.27% 11,015 $254K No change
PEP Pepsico Inc. 0.24% 1,604 $230K Reduce -2.1%
ENFR Alerian Energy Infrastructur 0.24% 7,300 $230K Reduce -6.4%
AVGO Broadcom Inc. 0.24% 650 $225K No change
WMB Williams Cos Inc. 0.23% 3,639 $219K Add +2.5%
KMI Kinder Morgan Inc. 0.22% 7,478 $206K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.19% 640 $186K No change
IBMS ISHARESIBONDDEC2030MUNIBDETF 0.19% 6,820 $178K Add +20.3%
PSX Phillips 66 0.18% 1,354 $175K No change
COST Costco Wholesale Corp. 0.17% 192 $166K Reduce -10.7%
LNT Alliant Energy Corp. 0.16% 2,388 $155K No change
IBDY iShares Ibonds Dec 2033 Corp. 0.16% 5,900 $154K Add +12.4%
IHAK iShares Cybersecurity & Tech 0.16% 3,200 $154K No change
VTEB Vanguard Tax-Exempt Bond ETF 0.15% 2,830 $142K No change
JNJ Johnson & Johnson 0.15% 683 $141K No change
MCD McDonald's Corp. 0.15% 459 $140K Add +0.4%
IDV iShares International Select 0.14% 3,500 $138K No change
CWI State Street SPDR MSCI Acwi 0.14% 3,833 $138K Reduce -21.5%
LVMUY LVMH Moet Hennessy-Unsp ADR 0.14% 900 $136K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.12% 562 $119K No change
GM General Motors Co. 0.12% 1,459 $119K Add +0.1%
SU Suncor Energy Inc. 0.12% 2,650 $118K No change
IBHG iShares Ibonds 2027 HY Inc. 0.12% 5,257 $117K No change
WMT Walmart Inc. 0.12% 990 $110K No change
TMUS T-Mobile US Inc. 0.11% 532 $108K Add +23.1%
LNG Cheniere Energy Inc. 0.11% 541 $105K No change
QCOM Qualcomm Inc. 0.11% 603 $103K No change
NVS Novartis AG-Sponsored ADR 0.10% 700 $97K No change
UBER Uber Technologies Inc. 0.10% 1,150 $94K No change
INTF iShares International Equity 0.08% 2,069 $78K No change
OKE Oneok Inc. 0.08% 1,000 $74K New
CMDY iShares Bloomberg Roll Selec 0.08% 1,500 $73K No change
V Visa Inc. Class A 0.07% 200 $70K No change
EE Excelerate Energy Inc. Class A 0.07% 2,500 $70K No change
NEM Newmont Corp. 0.07% 700 $70K No change
F Ford Motor Co. filed as FORD MTR CO 0.07% 5,242 $69K Add +1.1%
BUD Anheuser-Busch Inbev-SPN ADR 0.07% 1,042 $67K No change
AAPL Apple Inc. 0.07% 243 $66K No change
SPHD Invesco S&P 500 High Dividen 0.07% 1,363 $65K No change
ACWX iShares MSCI Acwi Ex US ETF 0.07% 933 $63K No change
ACWI iShares MSCI Acwi ETF 0.06% 432 $61K No change
SFM Sprouts Farmers Market Inc. 0.06% 759 $60K Add +1165.0%
CEG Constellation Energy 0.06% 156 $55K No change
AMLP Alerian MLP ETF 0.06% 1,150 $54K No change
IBDZ ISHARESIBONDSDEC2034TMCORP 0.05% 1,900 $50K No change
CARR Carrier Global Corp. 0.05% 900 $48K Add +12.5%
SUB iShares Short-Term National 0.05% 435 $46K No change
RTX RTX Corp. 0.05% 251 $46K No change
ICAGY Intl Consolidated-Spons ADR filed as INTERNTNL CONS AIRLS A FSPONSORED ADR 1 ADR REPS 2 ORD SHS 0.05% 4,000 $44K No change
VIG Vanguard Dividend Apprec ETF 0.05% 200 $44K Reduce -33.3%
LLY Eli Lilly & Co. 0.04% 40 $43K No change
KNG FT Vest S&P 500 DVD Arst TRG 0.04% 850 $42K Reduce -69.9%
STLA Stellantis NV 0.04% 3,787 $41K No change
VT Vanguard Tot World STK ETF 0.04% 283 $40K Add +14.1%
VTWO Vanguard Russell 2000 ETF 0.04% 400 $40K No change
SPHQ Invesco S&P 500 Quality ETF 0.04% 515 $39K No change
VWO Vanguard Ftse Emerging Marke 0.04% 703 $38K No change
JPM JPMorgan Chase & Co. 0.03% 100 $32K No change
CVX Chevron Corp. 0.03% 200 $30K No change
VTIP Vanguard Short-Term Tips 0.03% 594 $29K No change
XOM Exxon Mobil Corp. 0.03% 228 $27K No change
COP Conocophillips 0.03% 279 $26K No change
EIX Edison International 0.03% 428 $26K New
MS Morgan Stanley 0.03% 137 $24K No change
C Citigroup Inc. 0.02% 201 $23K No change
TSLA Tesla Inc. 0.02% 50 $22K No change
ABBV Abbvie Inc. 0.02% 94 $21K No change
T AT&T Inc. 0.02% 834 $21K No change
EAT Brinker International Inc. 0.02% 140 $20K No change
BLSH Bullish 0.02% 500 $19K No change
IVV iShares Core S&P 500 ETF 0.02% 26 $18K No change
AMT American Tower Corp. 0.02% 100 $18K No change
GSIE Goldman Sachs Activebeta Int 0.02% 392 $17K No change
KO The Coca-Cola Co. 0.02% 240 $17K No change
SPLV Invesco S&P 500 Low Volatili 0.02% 209 $15K No change
PG The Procter & Gamble Co. 0.01% 100 $14K Reduce -50.0%
VWOB Vanguard Emerg MKTS Gov BND 0.01% 200 $13K No change
IBHI iShares Ibonds 2029 TM HY Inc. 0.01% 551 $13K No change
SCHG Schwab US Large-Cap Growth 0.01% 392 $13K No change
PFE Pfizer Inc. 0.01% 500 $12K Reduce -28.6%
IWF iShares Russell 1000 Growth 0.01% 22 $10K No change
Q Qnity Electronics Inc. 0.01% 114 $9K No change
DD Dupont DE Nemours Inc. 0.01% 229 $9K No change
IWD iShares Russell 1000 Value E 0.01% 38 $8K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.01% 89 $8K No change
COF Capital One Financial Corp. 0.01% 31 $8K No change
IWS iShares Russell Mid-Cap Valu 0.01% 37 $5K No change
EEMV iShares MSCI Emg MKT Min Vol 0.00% 44 $3K No change
IBMT iShares Ibonds Dec 2031 Muni 0.00% 100 $3K No change
IWR iShares Russell Mid-Cap ETF 0.00% 20 $2K No change
SO The Southern Co. 0.00% 20 $2K Reduce -91.7%
PHDG Invesco S&P 500 Downside Hed 0.00% 26 $973 No change
SPDW Ste STR SPDR PT DW Eu ETF 0.00% 12 $533 No change
HYPD Hyperion Defi Inc. 0.00% 90 $320 No change
EMGF iShares Emerging Markets Equ 0.00% 2 $116 No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.00% 2 $90 No change
GEM Goldman Sachs Activebeta Em 0.00% 1 $42 No change
Other holdings (305): bonds, preferreds, convertibles and warrants · $13.5M (not counted above)
SecurityClassShares / PrincipalValueChange
NORTH TEX TWY AUTH 4 39TOLL TRAN DUE 01/01/39 MUNI BONDS · principal 350,000$350KNo change
AUSTIN TEX CMNTY CO 4 35COLL EDUC DUE 08/01/35XTRO MUNI BONDS · principal 250,000$252KNo 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$243KNo change
GABELLI EQUITY TRUST (GAB 5 PERP G) PREFERRED STOCK 9,800$204KNo change
SEDGWICK CNTY KANS 4 29FAC BLDG DUE 08/01/29 MUNI BONDS · principal 200,000$200KNo change
BANCROFT FUND LTD (BCV 5.375 PERP A) PREFERRED STOCK 8,791$191KReduce -7.3%
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK 8,000$170KReduce -3.6%
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM 8,425$164KReduce -1.2%
METROPOLITAN TRANSN 4 36COMB TRAN DUE 11/15/36XTRO MUNI BONDS · principal 150,000$150KNo change
BANK NOVA SCOTI5 25 28F DUE 06/12/28 FOREIGN BONDS (US $) · principal 145,000$149KNo change
ARLINGTON TEX HIGHE 4 44CHAR EDUC DUE 08/15/44OID XTRO MUNI BONDS · principal 150,000$142KNo change
METROPOLITAN TRANSN 4 32COMB TRAN DUE 11/15/32XTRO MUNI BONDS · principal 140,000$140KNo change
ILLINOIS HSG DEV 1 4 30SING HSG DUE 10/01/30XTRO MUNI BONDS · principal 150,000$137KNo change
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK 7,014$127KReduce -26.3%
TRUIST FINL COR 1 125 27 DUE 08/03/27 CORPORATE BONDS · principal 130,000$125KNo change
PHILIP MORRIS IN 1 75 30 DUE 11/01/30 CORPORATE BONDS · principal 135,000$120KNo change
GILEAD SCIENCES, 1 2 27 DUE 10/01/27 CORPORATE BONDS · principal 124,000$119KNo change
THE TORONTO-DO5 156 28F DUE 01/10/28 FOREIGN BONDS (US $) · principal 115,000$118KNo change
PUBLIC STORAGE 5 125 29 DUE 01/15/29 CORPORATE BONDS · principal 110,000$114KNo change
3M CO 2 375 29 DUE 08/26/29 CORPORATE BONDS · principal 110,000$104KNo change
SAN FELIPE DEL RIO 4 32GO UTX DUE 08/15/32 MUNI BONDS · principal 100,000$101KNo 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
HARRIS CNTY TEX HOS 4 31DIST HLTH DUE 02/15/31 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
JOHNSON CNTY KA 3 625 34MUNI BLDG DUE 09/01/34OID XTRO 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
KAUFMAN CNTY TEX MU 4 35GO UTX DUE 09/01/35OID MUNI BONDS · principal 100,000$100KNo change
ARLINGTON TEX HIGHE 4 39CHAR EDUC DUE 08/15/39OID XTRO 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$100KNo change
RAMAPO N Y LOC DEV 5 41REV LTX DUE 03/15/41 MUNI BONDS · principal 100,000$100KNo change
PHILLIPS 66 4 65 34 DUE 11/15/34 CORPORATE BONDS · principal 100,000$98KNo change
TRANSCANADA PI4 625 34F DUE 03/01/34 FOREIGN BONDS (US $) · principal 100,000$98KNo change
TENN VALLEY AUTHORITY (TVA V2.134 06/01/28 D) Corporate Bond 4,037$97KNo change
COOK CNTY ILL SCH D 3 35GO LTX DUE 12/01/35 MUNI BONDS · principal 100,000$96KNo change
TARRANT CNTY TEX CU 4 42SYST HLTH DUE 11/15/42XTRO MUNI BONDS · principal 100,000$96KNo change
KANE COOK & DU PA 1 5 29GO UTX DUE 12/15/29 MUNI BONDS · principal 100,000$92KNo change
ARAPAHOE CNTY CO 2 25 34GO UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$91KNo change
EVANSTON ILL 2 31GO UTX DUE 12/01/31 MUNI BONDS · principal 100,000$91KNo change
CHAMPAIGN & VERMILL 3 33GO UTX DUE 12/01/33 MUNI BONDS · principal 90,000$90KNo change
FRANKLIN BSP REALTY TRST (FBRT 7.5 PERP E) Equities 4,200$90KNo change
SAN DIEGO GAS & E 1 7 30 DUE 10/01/30 CORPORATE BONDS · principal 100,000$89KNo change
BANK OF MONTREA1 25 26F DUE 09/15/26 FOREIGN BONDS (US $) · principal 90,000$88KNo change
ENTERGY TEXAS, I 1 75 31 DUE 03/15/31 CORPORATE BONDS · principal 100,000$88KNo change
NEXTERA ENERGY CAPI 5 30 DUE 02/28/30 CORPORATE BONDS · principal 85,000$88KNo change
VIRIDIAN MUN MGMT D 2 34DB UTX DUE 12/01/34OID MUNI BONDS · principal 100,000$85KNo change
SAN LEANDRO CAL 3 625 27MUNI BLDG DUE 12/01/27OID XTRO MUNI BONDS · principal 85,000$85KNo change
LOWE'S COMPANIES, 1 7 28 DUE 09/15/28 CORPORATE BONDS · principal 90,000$85KNo change
REALTY INCOME COR 1 8 33 DUE 03/15/33 CORPORATE BONDS · principal 100,000$83KNo change
ABRDN INCOME CREDIT (ACP 5.25 PERP A) PREFERRED STOCK 4,200$83KReduce -16.0%
PUBLIC STORAGE (PSA 5.15 PERP F) PREFERRED STOCK 4,000$83KReduce -11.1%
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
MC HENRY CNTY ILL 1 5 26GO UTX DUE 12/30/26 MUNI BONDS · principal 80,000$78KNo change
ORLAND PARK ILL 3 46DB UTX DUE 12/01/46 MUNI BONDS · principal 100,000$77KNo 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$75KNo change
LAKE CNTY ILL WTR & 2 31WRSR UTIL DUE 12/01/31 MUNI BONDS · principal 80,000$73KNo 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
CHARLOTTE N C 2 34GO UTX DUE 06/01/34 MUNI BONDS · principal 75,000$67KNo change
VIRIDIAN MUN MGMT D 1 29DB UTX DUE 12/01/29OID MUNI BONDS · principal 75,000$67KNo change
TX UNIV SYS BRD RGTS (TX TXSHGR 3 03/15/2034) MUNI BONDS · principal 65,000$64KNo change
LOWER COLO RIV AUTH 4 40ELEC UTIL DUE 05/15/40OID ASSURED GUARANTY MUN MUNI BONDS · principal 62,000$62KNo change
NORTH TEX TWY AUTH 0 28TOLL TRAN DUE 01/01/28OID ASSURED GUARANTY COR MUNI BONDS · principal 65,000$61KNo 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
NEXTERA ENERGY CA 1 9 28 DUE 06/15/28 CORPORATE BONDS · principal 55,000$52KNo change
BRANCH CNTY MICH BL 4 32REV UTX DUE 05/01/32 MUNI BONDS · principal 50,000$52KNo change
CHAMBERS CNTY TEX I 4 29GO UTX DUE 09/01/29 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
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
ONEOK, INC 5 55 26 DUE 11/01/26 CORPORATE BONDS · principal 50,000$50KNo change
FOND DU LAC WIS WTR 4 26WTR UTIL DUE 09/01/26 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
ILLINOIS FIN AUTH R 5 36EXCISE TAX DUE 12/01/36 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$50KNo change
TEXAS MUN PWR AGY R 3 30PWR UTIL DUE 09/01/30 MUNI BONDS · principal 50,000$50KNo change
KERRVILLE TEX 3 375 32DB LTX DUE 08/15/32 MUNI BONDS · principal 50,000$50KNo change
KELLER TEX 2 26GO LTX DUE 02/15/26 MUNI BONDS · principal 50,000$50KNo change
CBOE GLOBAL MARK 3 65 27 DUE 01/12/27 CORPORATE BONDS · principal 50,000$50KNo change
BP CAPITAL MARKETS PLC (BPLN 3.723 11/28/28) FOREIGN BONDS (US $) · principal 50,000$50KNo change
OKLAHOMA DEV FI 4 851 45COMB IDR DUE 02/01/45TAXBL MUNI BONDS · principal 50,000$50KNo 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
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$49KNo change
CITIGROUP INC 3 27 DUE 12/31/27 CORPORATE BONDS · principal 50,000$49KNo change
GENERAL ELECTRIC CO (GE 4 06/15/32 NOT2) CORPORATE BONDS · principal 50,000$49KNo change
JOHNSON CNTY KAN 2 25 29WTR UTIL DUE 07/01/29OID MUNI BONDS · principal 50,000$48KNo change
PUBLIC STORAGE (PSA 4.625 PERP L) COM 2,600$48KNo change
BRIDGESTONE MUN UTI 3 33DB UTX DUE 05/01/33OID MUNI BONDS · principal 50,000$48KNo 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
MIDWEST CITY OKL 4 25 38RTL IDR DUE 02/01/38XTRO TAXBL MUNI BONDS · principal 50,000$47KNo change
NORTH CAROLINA H 1 45 30SING HSG DUE 01/01/30XTRO MUNI BONDS · principal 50,000$47KNo change
TULSA CNTY OKLA IND 4 29FAC BLDG DUE 02/01/29XTRO MUNI BONDS · principal 45,000$46KNo change
JOHNSTON CNTY N C 1 5 30GO UTX DUE 02/01/30 MUNI BONDS · principal 50,000$46KNo change
THE GOLDMAN SACHS G 2 29 DUE 08/30/29 CORPORATE BONDS · principal 50,000$46KNo change
FORT BEND CNTY T 2 75 35GO UTX DUE 09/01/35OID MUNI BONDS · principal 50,000$46KNo change
L3HARRIS TECHNOLO 5 4 27 DUE 01/15/27 CORPORATE BONDS · principal 45,000$46KNo change
FLORIDA HSG FIN COR 2 32SING HSG DUE 07/01/32XTRO 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
CVS HEALTH CORP 5 26 DUE 02/20/26 CORPORATE BONDS · principal 45,000$45KNo change
DALLAS TEX WTRW 3 125 32WRSR UTIL DUE 10/01/32OID MUNI BONDS · principal 45,000$45KNo change
GREENSBORO N C 1 671 31PKG BLDG DUE 11/01/31TAXBL MUNI BONDS · principal 50,000$44KNo change
BRUSHY CREEK MUN 2 25 33GO UTX DUE 06/01/33OID MUNI BONDS · principal 50,000$43KNo change
FLORIDA HSG FIN 1 75 33SING HSG DUE 07/01/33XTRO 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
OKLAHOMA DEV FIN AU 4 29IMPT EDUC DUE 06/01/29XTRO MUNI BONDS · principal 40,000$42KNo change
VAN ALSTYNE TEX 2 36DB LTX DUE 02/15/36 MUNI BONDS · principal 50,000$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
SEMPRA 5 4 26 DUE 08/01/26 CORPORATE BONDS · principal 40,000$40KNo change
SAN ANTONIO TEX PUB 4 42CONV BLDG DUE 09/15/42OID XTRO MUNI BONDS · principal 42,000$40KNo change
REALTY INCOME CO 0 75 26 DUE 03/15/26 CORPORATE BONDS · principal 40,000$40KNo change
BUTLER CNTY KANS UN 3 34GO UTX DUE 09/01/34 MUNI BONDS · principal 40,000$39KNo change
WELLS FARGO BANK 4 25 26CD FDIC INS DUE 03/05/26US CERTIFICATE DEPOSIT · principal 39,000$39KNo change
THE GOLDMAN SACH 1 65 27 DUE 06/10/27 CORPORATE BONDS · principal 40,000$39KNo change
WELLTOWER INC 2 05 29 DUE 01/15/29 CORPORATE BONDS · principal 40,000$38KNo change
THE BANK OF NEW Y 1 9 29 DUE 01/25/29 CORPORATE BONDS · principal 40,000$38KNo 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
WICHITA KANS 2 33DB UTX DUE 06/01/33 MUNI BONDS · principal 40,000$36KNo change
VODAFONE GROUP4 375 28F DUE 05/30/28 FOREIGN BONDS (US $) · principal 35,000$35KNo change
CUMBERLAND CNTY PA 4 35SYST HLTH DUE 11/01/35XTRO MUNI BONDS · principal 35,000$35KNo change
MORGAN STANLEY PR 4 8 26CD FDIC INS DUE 07/10/26US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
BOSSIER PARISH LA P 4 29GO UTX DUE 03/01/29 MUNI BONDS · principal 35,000$35KNo change
BANK OF AMERICA, 4 15 26CD FDIC INS DUE 05/27/26US CERTIFICATE DEPOSIT · principal 35,000$35KNo change
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$35KNo change
WELLS FARGO BANK NA (WFC 3.85 06/22/26) CERTIFICATE DEPOSIT · principal 35,000$35KNo change
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
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
PHILIP MORRIS I 5 125 30 DUE 02/15/30 CORPORATE BONDS · principal 30,000$31KNo change
RYDER SYSTEM INC 5 65 28 DUE 03/01/28 CORPORATE BONDS · principal 30,000$31KNo change
BLACKMAN TWP MICH 4 32GO UTX DUE 05/01/32 MUNI BONDS · principal 30,000$31KNo change
UCF STAD CORP FLA 3 5 32FAC EDUC DUE 03/01/32OID MUNI BONDS · principal 30,000$30KNo change
HARRIS CNTY TEX CUL 4 36SERV EDR DUE 11/15/36XTRO MUNI BONDS · principal 30,000$30KNo 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
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
MID-AMERICA APART 1 1 26 DUE 09/15/26 CORPORATE BONDS · principal 30,000$29KNo change
JPMORGAN CHASE & VAR 27 DUE 09/22/27 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
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
KALAMAZOO MICH HOSP 4 36SYST HLTH DUE 05/15/36XTRO 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
UNIVERSITY OKLA REV 4 40PUB EDUC DUE 07/01/40OID 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
CITIGROUP INC (C 3.7 01/12/26) CORPORATE BONDS · principal 25,000$25KNo change
THE TORONTO-DOM0 75 26F DUE 01/06/26 FOREIGN BONDS (US $) · 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
HOLLAND MICH 3 35 27GO LTX DUE 12/01/27TAXBL 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
HARRIS CNTY TEX MUN 3 28GO UTX DUE 09/01/28 MUNI BONDS · principal 25,000$25KNo change
GEORGIA ST HSG & 2 45 28SING HSG DUE 12/01/28XTRO MUNI BONDS · principal 25,000$25KNo change
UNIVERSITY OKLA REV 3 33PUB EDUC DUE 07/01/33OID MUNI BONDS · principal 25,000$25KNo change
OKLAHOMA ST WTR RES 3 35WRSR UTIL DUE 10/01/35OID XTRO 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
FORD MOTOR CREDIT C 4 27 DUE 08/20/27 CORPORATE 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
UNION CNTY N C 1 375 30WRSR UTIL DUE 06/01/30 MUNI BONDS · principal 25,000$23KNo change
GABELLI DVD & INC TR (GDV 5.375 PERP H) 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
KANNAPOLIS N C 2 153 33MUNI PKG DUE 04/01/33TAXBL MUNI BONDS · principal 25,000$22KNo change
GABELLI EQUITY TRUST (GAB 5 PERP K) PREFERRED STOCK 1,000$21KNo change
CARTER CNTY OKLA PU 4 29LEAS SCH DUE 12/01/29XTRO MUNI BONDS · principal 20,000$21KNo change
TOYOTA MOTOR CRE 5 45 27 DUE 11/10/27 CORPORATE BONDS · principal 20,000$21KNo change
DUKE ENERGY CORP 5 27 DUE 12/08/27 CORPORATE BONDS · principal 20,000$20KNo change
PUBLIC STORAGE (PSA 5.05 PERP G) PREFERRED STOCK 1,000$20KNo change
GRAND RIVER DAM AUT 4 38ELEC UTIL DUE 06/01/38 MUNI BONDS · principal 20,000$20KNo change
RICHMOND CNTY GA HO 3 32SYST HLTH DUE 01/01/32OID XTRO MUNI BONDS · principal 20,000$20KNo change
LANCASTER TEX 4 35GO LTX DUE 02/15/35 MUNI BONDS · principal 20,000$20KNo change
SCAGO EDL FACS 4 118 26IMPT SCH DUE 12/01/26XTRO TAXBL BUILD AMERICA MUNI BONDS · principal 20,000$20KNo change
ALLY BANK 3 8 26CD FDIC INS DUE 02/20/26US CERTIFICATE DEPOSIT · principal 20,000$20KNew
WILMINGTON N C 4 1 32GO UTX DUE 06/01/32TAXBL MUNI BONDS · principal 20,000$20KNo change
NEW HAVEN MICH C 2 76 27GO UTX DUE 05/01/27TAXBL MUNI BONDS · principal 20,000$20KNo change

Largest 200 of 305 shown.

Total filed on the 13F, all lines: $109.0M.

Portfolio Sells Q3 2025 → Q4 2025
IBDQ iShares Ibonds Dec 2025 Term Sold out 0.00% −0.75
IBHE iShares Ibonds 2025 H/Y Inc. Sold out 0.00% −0.63
PFF iShares Preferred & Income S Sold out 0.00% −0.46
IBMN iShares Ibonds Dec 2025 Term Sold out 0.00% −0.44
SCHD Schwab US DVD Equity ETF Reduce -11.0% 2.72% −0.29
USMV iShares MSCI USA Min Vol Fac Reduce -7.9% 3.30% −0.28
QUAL iShares MSCI USA Quality Fac Reduce -9.2% 2.77% −0.18
SPY SS SPDR S&P 500 ETF Trust-US Reduce -7.0% 2.91% −0.11
MTUM iShares MSCI USA Momentum Fa Reduce -2.7% 2.56% −0.10
KNG FT Vest S&P 500 DVD Arst TRG Reduce -69.9% 0.04% −0.10
KKR KKR & Co. Inc. Reduce -11.3% 0.54% −0.07
IBDR iShares Ibonds Dec 2026 Term Reduce -5.3% 1.17% −0.05
XSLV Invesco S&P Smallcap Low Vol Sold out 0.00% −0.03
COST Costco Wholesale Corp. Reduce -10.7% 0.17% −0.03
CWI State Street SPDR MSCI Acwi Reduce -21.5% 0.14% −0.03
BNDX Vanguard Total Intl Bond ETF Reduce -0.3% 2.20% −0.03
TIP iShares Tips Bond ETF Reduce -5.5% 0.47% −0.03
SO The Southern Co. Reduce -91.7% 0.00% −0.02
ENFR Alerian Energy Infrastructur Reduce -6.4% 0.24% −0.02
VIG Vanguard Dividend Apprec ETF Reduce -33.3% 0.05% −0.02
VTV Vanguard Mrngstr Val ETF-Aui Reduce -6.8% 0.55% −0.02
PG The Procter & Gamble Co. Reduce -50.0% 0.01% −0.02
USIG iShares Broad Usd Investment Reduce -1.0% 2.02% −0.01
XLI SS Industrial Select Sector Reduce -2.3% 2.44% −0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -0.8% 0.68% −0.01
XLE SS Energy Select Sector Reduce -3.1% 0.53% −0.01
MO Altria Group Inc. Sold out 0.00% −0.01
KMB Kimberly-Clark Corp. Sold out 0.00% −0.01
BKLN Invesco Senior Loan ETF Sold out 0.00% −0.01
PFE Pfizer Inc. Reduce -28.6% 0.01% −0.01
APD Air Products & Chemicals Inc. Sold out 0.00% −0.01
MUB iShares National Muni Bond E Reduce -2.8% 0.39% −0.00
BND Vanguard Total Bond Market Reduce -0.8% 2.99% −0.00
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -0.6% 0.43% −0.00
VTI VG Morningstar TS MKT ETF-US Reduce -3.2% 1.56% +0.00
PEP Pepsico Inc. Reduce -2.1% 0.24% +0.00
IBDS Ishrs Ibnds Dec 27 Corp. ETF Reduce -0.3% 0.93% +0.01
FNDA Schwab Fndmntl US SM Co. ETF Reduce -1.0% 0.54% +0.01
IWM iShares Russell 2000 ETF Reduce -0.3% 2.68% +0.07
SOXX iShares Semiconductor ETF Reduce -4.5% 1.01% +0.07
XLK SS Technology Select Sector Reduce -1.9% 6.52% +0.09
XLV SS Health Care Select Sector Reduce -3.8% 4.39% +0.34

Portfolio Buys Q3 2025 → Q4 2025
IEFA iShares Core MSCI Eafe ETF Add +1.3% 11.53% +0.56
PFFD Global X US Preferred ETF New 0.46% +0.46
XLF SS Financial Select Sector Add +8.2% 2.88% +0.29
VYMI Vanguard Int High DVD YLD Inc. Add +5.3% 2.27% +0.27
IEMG iShares Core MSCI Emerging Add +0.5% 5.26% +0.19
VLUE iShares MSCI USA Value Facto Add +1.0% 1.77% +0.19
OKE Oneok Inc. New 0.08% +0.08
SFM Sprouts Farmers Market Inc. Add +1165.0% 0.06% +0.06
XLC SS Comm Select Sector SPDR Add +2.4% 1.77% +0.05
IBDU iShares Ibonds Dec 2029 Term Add +5.3% 0.83% +0.05
IBDV iShares Ibonds Dec 2030 Corp. Add +6.5% 0.64% +0.04
IBDW iShares Ibonds Dec 2031 Corp. Add +8.8% 0.49% +0.04
IBDX iShares Ibonds Dec 2032 TC Add +9.4% 0.40% +0.04
VEU Vanguard Ftse All-World Ex-U Add +2.2% 0.59% +0.04
IBMS ISHARESIBONDDEC2030MUNIBDETF Add +20.3% 0.19% +0.03
GM General Motors Co. Add +0.1% 0.12% +0.03
EIX Edison International New 0.03% +0.03
EMB iShares JP Morgan Usd Emergi Add +0.1% 1.00% +0.02
IBMP iShares Ibonds Dec 2027 Term Add +3.2% 0.60% +0.02
XLY SS Consumer Disc Select Sect Add +0.2% 1.92% +0.02
IBDY iShares Ibonds Dec 2033 Corp. Add +12.4% 0.16% +0.02
XLB SS Materials Select Sector Add +0.9% 0.47% +0.02
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +1.9% 0.73% +0.01
F Ford Motor Co. Add +1.1% 0.07% +0.01
VT Vanguard Tot World STK ETF Add +14.1% 0.04% +0.01
TMUS T-Mobile US Inc. Add +23.1% 0.11% +0.01
MCD McDonald's Corp. Add +0.4% 0.15% +0.00
CARR Carrier Global Corp. Add +12.5% 0.05% +0.00
XLRE SS Real Estate Select Sector Add +2.6% 0.44% −0.00
WMB Williams Cos Inc. Add +2.5% 0.23% −0.00

Notes & Other Activity Q3 2025 → Q4 2025
GULF COAST WASTE DI 5 33 CALLED @100 EFF: 10/01/2025 MUNI BONDS · principal Sold out 200,000 $200Kbefore exit
BANCROFT FUND LTD (BCV 5.375 PERP A) PREFERRED STOCK Reduce -7.3% 8,791 $191K
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP G) PREFERRED STOCK Reduce -3.6% 8,000 $170K
NORTHERN TRUST CORP (NTRS 4.7 PERP E) COM Reduce -1.2% 8,425 $164K
GABELLI DVD & INC TR (GDV 4.25 PERP K) PREFERRED STOCK Reduce -26.3% 7,014 $127K
ELGIN ILL 2 25GO UTX DUE 12/15/25 MUNI BONDS · principal Sold out 90,000 $90Kbefore exit
ABRDN INCOME CREDIT (ACP 5.25 PERP A) PREFERRED STOCK Reduce -16.0% 4,200 $83K
PUBLIC STORAGE (PSA 5.15 PERP F) PREFERRED STOCK Reduce -11.1% 4,000 $83K
THE GOLDMAN SACHS G 1 25 DUE 12/21/25 CORPORATE BONDS · principal Sold out 75,000 $74Kbefore exit
TRANSCANADA PI4 875 26F DUE 01/15/26 FOREIGN BONDS (US $) · principal Sold out 55,000 $55Kbefore exit
BANK OF NOVA SCOTIA NOTE 4.500%12/1 · principal Sold out 50,000 $50Kbefore exit
THE ALLSTATE COR 0 75 25 DUE 12/15/25 CORPORATE BONDS · principal Sold out 50,000 $50Kbefore exit
MORGAN STANLEY 5 25 DUE 11/24/25 CORPORATE BONDS · principal Sold out 40,000 $40Kbefore exit
WOORI AMERICA BA 4 25 25CD FDIC INS DUE 10/28/25US CERTIFICATE DEPOSIT · principal Sold out 35,000 $35Kbefore exit
SOUTHERN POWER CO (SO 4.15 12/01/25) CORPORATE BONDS · principal Sold out 35,000 $35Kbefore exit
US BANK NA CINCINNATI (USB 4.3 01/02/26 CD) CERTIFICATE DEPOSIT · principal Sold out 27,000 $27Kbefore exit
ALLY BANK 3 3 25CD FDIC INS DUE 12/23/25US CERTIFICATE DEPOSIT · principal Sold out 23,000 $23Kbefore exit
ONEOK, INC 5 26 DUE 03/01/26 CORPORATE BONDS · principal Sold out 20,000 $20Kbefore exit
ROYAL BANK OF C5 25 28F DUE 04/28/28 FOREIGN BONDS (US $) · principal Sold out 20,000 $20Kbefore exit
ALLY BANK 3 8 26CD FDIC INS DUE 02/20/26US CERTIFICATE DEPOSIT · principal New 20,000 $20K
COUNCIL ROCK PA SCH 2 32GO LTX DUE 11/15/32 MUNI BONDS · principal Sold out 20,000 $18Kbefore exit
ONEOK, INC 5 85 26 DUE 01/15/26 CORPORATE BONDS · principal Sold out 15,000 $15Kbefore exit
WELLS FARGO BANK NA (WFC 5.35 11/21/25) CERTIFICATE DEPOSIT · principal Sold out 15,000 $15Kbefore exit
MORGAN STANLEY F 5 25 27 CALLED @100 EFF: 10/29/2025 CORPORATE BONDS · principal Sold out 15,000 $15Kbefore exit
WELLS FARGO BANK 4 25 25CD FDIC INS DUE 12/05/25US CERTIFICATE DEPOSIT · principal Sold out 12,000 $12Kbefore exit
PHILLIPS 66 (PSX 1.3 02/15/26) CORPORATE BONDS · principal Reduce -80.0% 12,000 $12K
GABELLI MULTIMEDIA TRUST (GGT 5.125 PERP E) PREFERRED STOCK Sold out 500 $11Kbefore exit
THE GOLDMAN SACHS G 5 27 DUE 09/15/27 CORPORATE BONDS · principal Sold out 10,000 $10Kbefore exit
MAINE MUN BD BK 5 093 25MUBB DUE 11/01/25XTRO TAXBL MUNI BONDS · principal Sold out 10,000 $10Kbefore exit
JPMORGAN CHASE FI 5 2 28 DUE 04/28/28 CORPORATE BONDS · principal Sold out 10,000 $10Kbefore exit
UNIVERSITY N C 2 479 25PUB EDUC DUE 12/01/25XTRO TAXBL MUNI BONDS · principal Sold out 10,000 $10Kbefore exit
WELLS FARGO BANK, 4 2 25CD FDIC INS DUE 12/31/25US CERTIFICATE DEPOSIT · principal Sold out 9,000 $9Kbefore exit
OKLAHOMA ST MUN 3 125XXXSUBMITTED FOR CASH EXP: 10/03/2025 REORG BOND · principal Sold out 10,000 $8Kbefore exit
WELLS FARGO BANK, 4 8 26 CALLED @100 EFF: 10/11/2025 CERTIFICATE DEPOSIT · principal Sold out 7,000 $7Kbefore exit

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