Howard Financial Services, LTD.

Name: HOWARD FINANCIAL SERVICES, LTD. 13F holdings, Q2 2025
Creator: HOWARD FINANCIAL SERVICES, LTD.
Published: 2025-07-02

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 2, 2025), Howard Financial Services, LTD. reported 182 stock positions worth $760.6 million. Its top holding was iShares MSCI USA Quality Fac (QUAL) at 11.9% of the portfolio, followed by Schwab US DVD Equity ETF (SCHD, 7.1%) and Vanguard Dividend Apprec ETF (VIG, 5.0%). Compared with Q1 2025, it opened 19 new positions, sold out of 20, added to 63 and reduced 84. The biggest buy was a new position in Schwab US Large-Cap Growth (SCHG) and the biggest sale Schwab US DVD Equity ETF (SCHD, shares −2%).

Most Recent 13F: Q2 2026
Location: DALLAS, TX
CIK: 0001768130
Portfolio Value: $760.6M (Q2 2025)
SEC Filing: 0001768130-25-000004 ↗ filed Jul 2, 2025

Holdings Value

Holdings 182 stocks · $760.6M


QUAL iShares MSCI USA Quality Fac	11.94%	496,946	$90.9M	Add +2.5%
SCHD Schwab US DVD Equity ETF	7.08%	2,032,073	$53.8M	Reduce -2.0%
VIG Vanguard Dividend Apprec ETF	4.97%	184,727	$37.8M	Reduce -0.6%
SPGP Invesco S&P 500 Garp ETF	4.90%	346,178	$37.3M	Reduce -2.3%
RSP Invesco S&P 500 Equal Weight	4.75%	198,745	$36.1M	Reduce -0.4%
GTO Invesco Total Return Bond Et	4.39%	711,727	$33.4M	Reduce -0.4%
HTRB Hartford TTL RTRN BND ETF	3.94%	885,861	$30.0M	Add +2.0%
DGRW Wisdomtree U.S. Quality Divi	3.68%	334,379	$28.0M	Add +11.5%
PTRB Pgim Total Return Bond ETF	3.66%	664,849	$27.8M	Reduce -0.7%
AAPL Apple Inc.	3.57%	132,520	$27.2M	Reduce -1.8%
SJNK SS SPDR BB St Hi Yield ETF	2.82%	842,349	$21.5M	Add +4.8%
TOTL SS Doubleline TR Tact ETF	2.78%	526,422	$21.1M	Add +2.3%
IQLT iShares MSCI International Q	2.51%	441,385	$19.1M	Add +0.1%
ANGL Vaneck Fallen Angel High YLD	2.13%	552,880	$16.2M	Add +6.4%
VIGI Vanguard Int Div App Indx FD	2.02%	170,741	$15.4M	Add +1.0%
FNDF Schwab Fndmn Intl LRG Co. ETF	1.98%	376,251	$15.1M	Reduce -1.3%
SPY SS SPDR S&P 500 ETF Trust-US	1.94%	23,850	$14.7M	Add +3.1%
RDVY First Trust Rising Dividend	1.75%	212,224	$13.3M	Add +3.6%
NVDA Nvidia Corp.	1.62%	77,993	$12.3M	Reduce -3.7%
CALF PCR US SM CP CSH CWS ETF-Usd	1.51%	289,065	$11.5M	Reduce -24.8%
XSOE Wisdmtree Emerg MKT Ex-St Ow	1.38%	304,366	$10.5M	Reduce -4.4%
MSFT Microsoft Corp.	1.38%	21,050	$10.5M	Reduce -13.9%
QQQ Invesco QQQ Trust Series 1	1.26%	17,395	$9.6M	Add +0.2%
SCHG Schwab US Large-Cap Growth	1.11%	289,897	$8.5M	New
MOAT Vaneck Morningstar Wide Moat	1.06%	86,295	$8.1M	Reduce -4.4%
FPE FT-Preferred Secur & Inc. ETF	0.93%	397,326	$7.1M	Reduce -14.0%
BRK.B Berkshire Hathaway Inc. Class B	0.89%	14,004	$6.8M	Add +1.1%
AMZN Amazon.com Inc.	0.78%	27,116	$5.9M	Reduce -7.0%
FIXD First Trust Smith Opportunis	0.74%	129,043	$5.7M	Reduce -33.8%
CMG Chipotle Mexican Grill Inc.	0.69%	93,500	$5.3M	Reduce -0.6%
SBR Sabine Royalty Trust	0.59%	67,814	$4.5M	Reduce -12.4%
IVV iShares Core S&P 500 ETF	0.53%	6,520	$4.0M	Reduce -10.0%
AVGO Broadcom Inc.	0.51%	14,204	$3.9M	Add +0.1%
EPD Enterprise Products Partners	0.47%	115,985	$3.6M	Add +23.9%
ET Energy Transfer LP	0.45%	188,309	$3.4M	Add +3.4%
VTI VG Morningstar TS MKT ETF-US	0.43%	10,887	$3.3M	No change
RODM Hartford Multifact Dev MRKT	0.42%	93,616	$3.2M	Reduce -0.3%
JPST JPMorgan Ultra-Short Income	0.42%	62,870	$3.2M	Reduce -19.5%
BSV Vanguard Short-Term Bond ETF	0.41%	39,498	$3.1M	Reduce -14.7%
SCHE Schwab Emrg Mrkts Eqty ETF	0.33%	82,254	$2.5M	Reduce -1.6%
SCHF Schwab Intl Equity ETF	0.29%	100,163	$2.2M	Reduce -3.8%
XOM Exxon Mobil Corp.	0.28%	19,796	$2.1M	Add +0.2%
PEP Pepsico Inc.	0.28%	16,103	$2.1M	Reduce -9.2%
PLTR Palantir Technologies Inc. Class A	0.24%	13,487	$1.8M	Reduce -0.7%
TSLA Tesla Inc.	0.24%	5,757	$1.8M	Reduce -0.9%
JPM JPMorgan Chase & Co.	0.23%	6,064	$1.8M	Reduce -26.5%
MPLX MPLX LP	0.23%	33,676	$1.7M	Add +3.7%
BIL SS SPDR BB 1-3M T-Bill ETF	0.22%	18,326	$1.7M	Add +22.9%
IEFA iShares Core MSCI Eafe ETF	0.21%	19,528	$1.6M	Add +0.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.20%	5,049	$1.5M	Add +13.4%
SSB Southstate Bank Corp.	0.20%	16,149	$1.5M	Reduce -1.1%
GOOGL Alphabet Inc. Class A	0.19%	8,383	$1.5M	Reduce -31.9%
SCHW Schwab (charles) Corp.	0.19%	16,000	$1.5M	Add +0.1%
TPL Texas Pacific Land Corp.	0.19%	1,350	$1.4M	Reduce -0.1%
MA Mastercard Inc. Class A	0.19%	2,506	$1.4M	Reduce -0.8%
NFLX Netflix Inc.	0.18%	1,018	$1.4M	Reduce -4.6%
META Meta Platforms Inc. Class A	0.17%	1,783	$1.3M	Reduce -9.5%
BSM Black Stone Minerals LP	0.16%	91,882	$1.2M	Add +0.2%
JEPI JPMorgan Equity Premium Inco	0.15%	20,701	$1.2M	Add +0.3%
TSM Taiwan Semiconductor-SP ADR	0.15%	5,023	$1.1M	Reduce -8.4%
FNDA Schwab Fndmntl US SM Co. ETF	0.14%	36,751	$1.1M	Add +0.1%
OKE Oneok Inc.	0.14%	12,742	$1.0M	Reduce -1.9%
WMT Walmart Inc.	0.13%	9,751	$953K	Reduce -13.4%
DMLP Dorchester Minerals LP	0.13%	34,191	$953K	Add +0.0%
CRWD CrowdStrike Holdings Inc. Class A	0.12%	1,862	$948K	Add +2.8%
COST Costco Wholesale Corp.	0.12%	943	$933K	Add +4.5%
SPDW Ste STR SPDR PT DW Eu ETF	0.12%	22,431	$908K	Reduce -27.2%
PM Philip Morris International	0.11%	4,691	$854K	Add +2.7%
JBI Janus International Group Inc.	0.11%	104,926	$854K	Reduce -0.2%
TQQQ Proshares Ultrapro QQQ	0.11%	10,125	$840K	Add +23.5%
CADE Cadence Bank	0.11%	25,502	$816K	Add +0.9%
BKNG Booking Holdings Inc.	0.11%	139	$805K	Add +3.7%
GHC Graham Holdings Co. Class B	0.10%	838	$793K	Add +0.2%
GOOG Alphabet Inc. Class C	0.10%	4,424	$785K	Reduce -8.3%
VNOM Viper Energy Inc.	0.10%	20,262	$773K	No change
NLY Annaly Capital Management Inc.	0.10%	40,489	$762K	Add +34.3%
LUV Southwest Airlines Co.	0.10%	22,537	$731K	Reduce -0.5%
BRK.A Berkshire Hathaway Inc. Class A	0.10%	1	$729K	No change
GLD SPDR Gold Shares	0.09%	2,366	$721K	Reduce -10.2%
IEMG iShares Core MSCI Emerging	0.09%	11,721	$704K	Add +0.0%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F	0.09%	12,315	$670K	Add +0.4%
FNGG Direxion Daily Nyse Fang+ Bu	0.09%	3,028	$647K	No change
ESGU iShares ESG Aware MSCI USA	0.08%	4,745	$642K	Add +0.3%
AGNC AGNC Investment Corp.	0.08%	69,038	$634K	Add +23.8%
CSCO Cisco Systems Inc.	0.08%	8,968	$622K	Reduce -11.3%
HD Home Depot Inc.	0.08%	1,693	$621K	Add +2.7%
CVX Chevron Corp.	0.08%	4,334	$621K	Reduce -12.0%
JNJ Johnson & Johnson	0.08%	3,874	$592K	Reduce -16.7%
UBER Uber Technologies Inc.	0.07%	6,042	$564K	Add +3.4%
MRK Merck & Co. Inc.	0.07%	7,112	$563K	Add +8.6%
NOC Northrop Grumman Corp.	0.07%	1,110	$555K	Reduce -38.4%
IJH iShares Core S&P Midcap ETF	0.07%	8,933	$554K	Reduce -81.2%
SHY iShares 1-3 Year Treasury Bo	0.07%	6,647	$551K	Reduce -2.7%
ABBV Abbvie Inc.	0.07%	2,965	$550K	Add +4.2%
VOO Vanguard S&P 500 ETF	0.07%	947	$538K	Reduce -14.8%
TXN Texas Instruments Inc.	0.07%	2,581	$536K	Reduce -48.2%
KO The Coca-Cola Co.	0.07%	7,571	$536K	Add +2.2%
IGSB iShares 1-5Y Inv Grade Corp.	0.07%	10,098	$533K	Add +157.9%
V Visa Inc. Class A	0.07%	1,469	$522K	Reduce -20.5%
IVW iShares S&P 500 Growth ETF	0.07%	4,724	$520K	Add +0.1%
AMGN Amgen Inc.	0.07%	1,861	$520K	Reduce -29.0%
CAVA Cava Group Inc.	0.07%	6,085	$513K	Reduce -1.8%
CRWV Coreweave Inc. Class A	0.06%	3,000	$489K	New
LEAD Siren Divcon Leaders Dividen	0.06%	6,716	$483K	Reduce -0.1%
ISRG Intuitive Surgical Inc.	0.06%	883	$480K	Add +1.5%
SRLN SS Blackstone Sr Loan ETF	0.06%	11,480	$477K	New
SPYD SS SPDR P S&P 500 Hi Div ETF	0.06%	11,070	$470K	Add +1.1%
QQQM Invesco Nasdaq 100 ETF	0.06%	2,058	$467K	Reduce -22.8%
MRVL Marvell Technology Inc.	0.06%	6,006	$465K	Reduce -4.9%
LLY Eli Lilly & Co.	0.06%	592	$461K	Reduce -15.6%
NSC Norfolk Southern Corp.	0.06%	1,799	$460K	Reduce -1.0%
MO Altria Group Inc.	0.06%	7,678	$450K	Add +1.6%
BFST Business First Bancshares	0.06%	18,128	$447K	No change
PANW Palo Alto Networks Inc.	0.06%	2,174	$445K	Reduce -2.3%
SLYV SS SPDR S&P 600 SC Val ETF	0.06%	5,421	$432K	Add +0.1%
AXP American Express Co.	0.06%	1,352	$431K	Add +13.5%
WES Western Midstream Partners L	0.06%	10,951	$424K	Add +7.2%
VNQ Vanguard Real Estate ETF	0.05%	4,597	$409K	Add +1.0%
CRM Salesforce Inc.	0.05%	1,499	$409K	Reduce -2.7%
YUM Yum! Brands Inc.	0.05%	2,715	$402K	Reduce -0.6%
MS Morgan Stanley	0.05%	2,853	$402K	Reduce -8.7%
GEV GE Vernova Inc.	0.05%	752	$398K	Reduce -1.7%
INTC Intel Corp.	0.05%	17,725	$397K	Add +3.6%
IAU iShares Gold Trust	0.05%	6,358	$396K	Reduce -20.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.05%	8,303	$393K	Add +8.0%
NXPI NXP Semiconductors NV	0.05%	1,768	$386K	Add +5.0%
TPYP Managed Portfolio Series	0.05%	10,726	$383K	Reduce -2.6%
VXF Vanguard Extended Market ETF	0.05%	1,961	$378K	Reduce -12.1%
MIDU Dirxn DLY Mid Cap BL 3XE-Usi	0.05%	8,000	$360K	No change
XLK SS Technology Select Sector	0.05%	1,410	$357K	No change
QQQE Dirx Nasdaq-100EQ Wi ETF-Usd	0.05%	3,553	$349K	Add +18.2%
GE General Electric filed as GE AEROSPACE	0.04%	1,326	$341K	Reduce -7.1%
BABA Alibaba Group Holding-SP ADR	0.04%	3,006	$341K	Reduce -2.0%
TMFC Motley Fool 100 Index ETF	0.04%	4,969	$321K	No change
ORCL Oracle Corp.	0.04%	1,461	$319K	New
EMLP First Trust North American E	0.04%	8,170	$306K	Add +0.8%
AZN Astrazeneca PLC-Spons ADR	0.04%	4,240	$296K	Reduce -12.6%
ABT Abbott Laboratories	0.04%	2,159	$294K	Add +10.5%
EQT Eqt Corp.	0.04%	4,965	$290K	Add +1.2%
COP Conocophillips	0.04%	3,219	$289K	Reduce -15.2%
BX Blackstone Inc.	0.04%	1,931	$289K	Reduce -78.9%
XLE SS Energy Select Sector	0.04%	3,383	$287K	Add +4.3%
TDAY USA Today Co. Inc. filed as GANNETT CO INC	0.04%	80,000	$286K	No change
CHWY Chewy Inc. Class A	0.04%	6,712	$286K	No change
PG The Procter & Gamble Co.	0.04%	1,771	$282K	Reduce -27.1%
VGT Vanguard Info Tech ETF	0.04%	416	$276K	Reduce -27.8%
IWF iShares Russell 1000 Growth	0.04%	649	$276K	Add +0.6%
TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP	0.04%	25,477	$274K	Add +54.6%
NEE Nextera Energy Inc.	0.04%	3,869	$269K	Reduce -35.3%
GS Goldman Sachs Group Inc.	0.03%	368	$260K	No change
JOUT Johnson Outdoors Inc. Class A	0.03%	8,276	$251K	Add +1.4%
MSTR Strategy Inc. filed as MICROSTRATEGY INC	0.03%	619	$250K	New
RSPG Invesco S&P 500 Equal Weight	0.03%	3,336	$248K	Reduce -13.0%
ETHE Grayscale Ethereum Staking E	0.03%	11,850	$247K	No change
SMH Vaneck Semiconductor ETF	0.03%	885	$247K	New
ADP Automatic Data Processing	0.03%	800	$247K	Reduce -53.9%
DIREXION DAILY SEMI BEAR 3X	0.03%	31,000	$245K	New
PPA Invesco Aerospace & Defense	0.03%	1,663	$236K	New
OKLO Oklo Inc.	0.03%	4,175	$234K	New
NOG Northern Oil and Gas Inc.	0.03%	8,214	$233K	Reduce -1.0%
MU Micron Technology Inc.	0.03%	1,879	$232K	New
VZ Verizon Communications Inc.	0.03%	5,274	$228K	New
EAT Brinker International Inc.	0.03%	1,264	$228K	Reduce -6.6%
IGV iShares Expanded Tech-Softwa	0.03%	2,038	$223K	New
CRBN Ish Low Car Opt Ms Ac ETF-US	0.03%	1,043	$221K	New
IHI iShares U.S. Medical Devices	0.03%	3,478	$218K	Reduce -2.2%
EMXC iShares MSCI Emr MRK Ex Chna	0.03%	3,430	$217K	New
WFC Wells Fargo & Co.	0.03%	2,662	$213K	Reduce -6.7%
BA The Boeing Co.	0.03%	1,004	$210K	New
UNP Union Pacific Corp.	0.03%	909	$209K	Add +1.9%
UPS United Parcel Service Class B	0.03%	2,040	$206K	Reduce -2.5%
SHV iShares 0-1 Year Treasury Bo	0.03%	1,856	$205K	Reduce -23.8%
GDX Vaneck Gold Miners ETF	0.03%	3,896	$203K	Reduce -36.7%
HBI Hanesbrands Inc.	0.03%	42,268	$194K	No change
STHO Star Holdings filed as STAR HLDGS	0.02%	24,129	$188K	Reduce -18.2%
KRP Kimbell Royalty Partners LP	0.02%	12,760	$178K	No change
EZPW Ezcorp Inc. Class A	0.02%	10,000	$139K	No change
PRT Permrock Royalty Trust	0.02%	28,741	$119K	New
ELDN Eledon Pharmaceuticals Inc.	0.01%	30,000	$81K	New
ZJK ZJK Industrial Co. Ltd. Class A	0.01%	12,500	$49K	New
CNDT Conduent Inc.	0.00%	10,000	$26K	No change
PMN Promis Neurosciences Inc.	0.00%	26,042	$13K	New

Other holdings (1): bonds, preferreds, convertibles and warrants · $10K (not counted above)

Security	Class	Shares / Principal	Value	Change
RWT HOLDINGS INC (RWT 5.75 10/01/25)	NOTE 5.750%10/0 · principal	10,000	$10K	New

Total filed on the 13F, all lines: $760.7M.

Portfolio Sells Q1 2025 → Q2 2025


SCHD Schwab US DVD Equity ETF	Reduce -2.0%	7.08%	−0.81
AAPL Apple Inc.	Reduce -1.8%	3.57%	−0.51
CALF PCR US SM CP CSH CWS ETF-Usd	Reduce -24.8%	1.51%	−0.45
FIXD First Trust Smith Opportunis	Reduce -33.8%	0.74%	−0.42
IJH iShares Core S&P Midcap ETF	Reduce -81.2%	0.07%	−0.30
GTO Invesco Total Return Bond Et	Reduce -0.4%	4.39%	−0.18
FPE FT-Preferred Secur & Inc. ETF	Reduce -14.0%	0.93%	−0.18
VEA Vanguard Ftse Developed ETF	Sold out	0.00%	−0.16
PTRB Pgim Total Return Bond ETF	Reduce -0.7%	3.66%	−0.15
BX Blackstone Inc.	Reduce -78.9%	0.04%	−0.14
JPST JPMorgan Ultra-Short Income	Reduce -19.5%	0.42%	−0.12
SBR Sabine Royalty Trust	Reduce -12.4%	0.59%	−0.12
BSV Vanguard Short-Term Bond ETF	Reduce -14.7%	0.41%	−0.08
PEP Pepsico Inc.	Reduce -9.2%	0.28%	−0.08
KOLD Proshares Ultrashort Bloombe	Sold out	0.00%	−0.07
GOOGL Alphabet Inc. Class A	Reduce -31.9%	0.19%	−0.06
TPL Texas Pacific Land Corp.	Reduce -0.1%	0.19%	−0.06
NOC Northrop Grumman Corp.	Reduce -38.4%	0.07%	−0.05
TXN Texas Instruments Inc.	Reduce -48.2%	0.07%	−0.05
VWO Vanguard Ftse Emerging Marke	Sold out	0.00%	−0.05
SYK Stryker Corp.	Sold out	0.00%	−0.05
TMO Thermo Fisher Scientific Inc.	Sold out	0.00%	−0.05
JPM JPMorgan Chase & Co.	Reduce -26.5%	0.23%	−0.04
AMGN Amgen Inc.	Reduce -29.0%	0.07%	−0.04
GNR State Street SPDR S&P Global	Sold out	0.00%	−0.04
ADP Automatic Data Processing	Reduce -53.9%	0.03%	−0.04
OKE Oneok Inc.	Reduce -1.9%	0.14%	−0.04
VB Vanguard Most SM-Cap ETF-Usd	Sold out	0.00%	−0.04
SLV iShares Silver Trust	Sold out	0.00%	−0.04
SBUX Starbucks Corp.	Sold out	0.00%	−0.04
UNH Unitedhealth Group Inc.	Sold out	0.00%	−0.04
EMR Emerson Electric Co.	Sold out	0.00%	−0.04
SPDW Ste STR SPDR PT DW Eu ETF	Reduce -27.2%	0.12%	−0.03
AMP Ameriprise Financial Inc.	Sold out	0.00%	−0.03
LULU Lululemon Athletica Inc.	Sold out	0.00%	−0.03
ITW Illinois Tool Works	Sold out	0.00%	−0.03
SPEM State Street SP PTF Em ETF	Sold out	0.00%	−0.03
CVX Chevron Corp.	Reduce -12.0%	0.08%	−0.03
ADBE Adobe Inc.	Sold out	0.00%	−0.03
APD Air Products & Chemicals Inc.	Sold out	0.00%	−0.03
CABO Cable One Inc.	Sold out	0.00%	−0.03
ESGD iShares Trust iShares ESG Aw	Sold out	0.00%	−0.03
JNJ Johnson & Johnson	Reduce -16.7%	0.08%	−0.03
NEE Nextera Energy Inc.	Reduce -35.3%	0.04%	−0.02
IVV iShares Core S&P 500 ETF	Reduce -10.0%	0.53%	−0.02
V Visa Inc. Class A	Reduce -20.5%	0.07%	−0.02
PG The Procter & Gamble Co.	Reduce -27.1%	0.04%	−0.02
LLY Eli Lilly & Co.	Reduce -15.6%	0.06%	−0.02
MOAT Vaneck Morningstar Wide Moat	Reduce -4.4%	1.06%	−0.02
COP Conocophillips	Reduce -15.2%	0.04%	−0.02

Portfolio Buys Q1 2025 → Q2 2025


SCHG Schwab US Large-Cap Growth	New	1.11%	+1.11
QUAL iShares MSCI USA Quality Fac	Add +2.5%	11.94%	+0.67
DGRW Wisdomtree U.S. Quality Divi	Add +11.5%	3.68%	+0.42
AVGO Broadcom Inc.	Add +0.1%	0.51%	+0.19
SPY SS SPDR S&P 500 ETF Trust-US	Add +3.1%	1.94%	+0.18
QQQ Invesco QQQ Trust Series 1	Add +0.2%	1.26%	+0.15
IQLT iShares MSCI International Q	Add +0.1%	2.51%	+0.12
RDVY First Trust Rising Dividend	Add +3.6%	1.75%	+0.12
VIGI Vanguard Int Div App Indx FD	Add +1.0%	2.02%	+0.11
ANGL Vaneck Fallen Angel High YLD	Add +6.4%	2.13%	+0.09
SJNK SS SPDR BB St Hi Yield ETF	Add +4.8%	2.82%	+0.07
CRWV Coreweave Inc. Class A	New	0.06%	+0.06
SRLN SS Blackstone Sr Loan ETF	New	0.06%	+0.06
TQQQ Proshares Ultrapro QQQ	Add +23.5%	0.11%	+0.05
IBM Intl Business Machines Corp.	Add +13.4%	0.20%	+0.04
IGSB iShares 1-5Y Inv Grade Corp.	Add +157.9%	0.07%	+0.04
ORCL Oracle Corp.	New	0.04%	+0.04
CRWD CrowdStrike Holdings Inc. Class A	Add +2.8%	0.12%	+0.04
EPD Enterprise Products Partners	Add +23.9%	0.47%	+0.04
BIL SS SPDR BB 1-3M T-Bill ETF	Add +22.9%	0.22%	+0.03
MSTR Strategy Inc.	New	0.03%	+0.03
SMH Vaneck Semiconductor ETF	New	0.03%	+0.03
DIREXION DAILY SEMI BEAR 3X	New	0.03%	+0.03
PPA Invesco Aerospace & Defense	New	0.03%	+0.03
OKLO Oklo Inc.	New	0.03%	+0.03
MU Micron Technology Inc.	New	0.03%	+0.03
VZ Verizon Communications Inc.	New	0.03%	+0.03
IGV iShares Expanded Tech-Softwa	New	0.03%	+0.03
CRBN Ish Low Car Opt Ms Ac ETF-US	New	0.03%	+0.03
EMXC iShares MSCI Emr MRK Ex Chna	New	0.03%	+0.03
BA The Boeing Co.	New	0.03%	+0.03
BKNG Booking Holdings Inc.	Add +3.7%	0.11%	+0.02
SCHW Schwab (charles) Corp.	Add +0.1%	0.19%	+0.02
NLY Annaly Capital Management Inc.	Add +34.3%	0.10%	+0.02
UBER Uber Technologies Inc.	Add +3.4%	0.07%	+0.02
PRT Permrock Royalty Trust	New	0.02%	+0.02
IEFA iShares Core MSCI Eafe ETF	Add +0.3%	0.21%	+0.01
PM Philip Morris International	Add +2.7%	0.11%	+0.01
AXP American Express Co.	Add +13.5%	0.06%	+0.01
AGNC AGNC Investment Corp.	Add +23.8%	0.08%	+0.01
ELDN Eledon Pharmaceuticals Inc.	New	0.01%	+0.01
QQQE Dirx Nasdaq-100EQ Wi ETF-Usd	Add +18.2%	0.05%	+0.01
IVW iShares S&P 500 Growth ETF	Add +0.1%	0.07%	+0.01
BAC Bank of America Corp.	Add +8.0%	0.05%	+0.01
NXPI NXP Semiconductors NV	Add +5.0%	0.05%	+0.01
COST Costco Wholesale Corp.	Add +4.5%	0.12%	+0.01
IEMG iShares Core MSCI Emerging	Add +0.0%	0.09%	+0.01
ZJK ZJK Industrial Co. Ltd. Class A	New	0.01%	+0.01
TWO Two Harbors Investment Corp.	Add +54.6%	0.04%	+0.01
ESGU iShares ESG Aware MSCI USA	Add +0.3%	0.08%	+0.01

Notes & Other Activity Q1 2025 → Q2 2025


RWT HOLDINGS INC (RWT 5.75 10/01/25)	NOTE 5.750%10/0 · principal	New	10,000	$10K

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

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	268	$1.0B	QUAL, SCHD, VIG, AAPL, SPGP
Q1 2026	222	$887.9M	QUAL, SCHD, VIG, RSP, SPGP
Q4 2025	205	$855.1M	QUAL, SCHD, VIG, SPGP, RSP
Q3 2025	198	$817.3M	QUAL, SCHD, VIG, SPGP, RSP
Q2 2025	182	$760.6M	QUAL, SCHD, VIG, SPGP, RSP
Q1 2025	183	$734.4M	QUAL, SCHD, VIG, SPGP, RSP
Q4 2024	186	$735.1M	QUAL, SCHD, VIG, RSP, AAPL
Q3 2024	168	$692.5M	QUAL, SCHD, RSP, VIG, GTO
Q2 2024	156	$610.2M	QUAL, SCHD, RSP, VIG, AAPL
Q1 2024	159	$580.2M	QUAL, SCHD, RSP, VIG, AAPL