Jim Saulnier & Associates, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), Jim Saulnier & Associates, LLC reported 138 stock positions worth $192.9 million. Its top holding was iShares Core 60/40 Balanced (AOR) at 13.2% of the portfolio, followed by iShares Core 80/20 Aggressiv (AOA, 8.9%) and Vanguard 0-3M T-Bill ETF (VBIL, 5.5%). Compared with Q3 2025, it opened 12 new positions, sold out of 9, added to 54 and reduced 34. The biggest buy was iShares Core 60/40 Balanced (AOR, shares +34%) and the biggest sale Vanguard 0-3M T-Bill ETF (VBIL, shares −35%).

Most Recent 13F
Q2 2026
Location
FORT COLLINS, CO
CIK
0002044420
Portfolio Value
$192.9M (Q4 2025)
SEC Filing
0002044420-26-000001 ↗ filed Jan 29, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q3 2024: $102.3M Q3 2024 Q4 2024: $115.8M Q4 2024 Q1 2025: $128.5M Q1 2025 Q2 2025: $146.6M Q2 2025 Q3 2025: $179.4M Q3 2025 Q4 2025: $192.9M $192.9M Q4 2025 Q1 2026: $205.5M Q1 2026 Q2 2026: $248.6M Q2 2026

Holdings 138 stocks · $192.9M
AOR iShares Core 60/40 Balanced 13.21% 392,041 $25.5M Add +34.2%
AOA iShares Core 80/20 Aggressiv 8.91% 191,963 $17.2M Add +25.6%
VBIL Vanguard 0-3M T-Bill ETF 5.55% 141,880 $10.7M Reduce -35.2%
VEA Vanguard Ftse Developed ETF 3.79% 116,956 $7.3M Reduce -2.7%
BIL SS SPDR BB 1-3M T-Bill ETF 2.03% 42,864 $3.9M Reduce -5.0%
PBJN Pgim S&P 500 Buffer 20-Jun 2.03% 130,924 $3.9M No change
PBJL Pgim S&P 500 Buffer 20-Jul 1.98% 127,411 $3.8M No change
ILCG iShares Morningstar Growth E 1.79% 33,257 $3.5M Reduce -1.6%
ILCV iShares Morningstar Value Et 1.75% 35,786 $3.4M Reduce -1.3%
ILCB iShares Morningstar U.S. Equ 1.75% 35,692 $3.4M Reduce -1.1%
PBNV Pgim S&P 500 Buffer 20-Nov 1.71% 112,057 $3.3M Add +332.1%
SPEM State Street SP PTF Em ETF 1.60% 65,819 $3.1M Reduce -4.2%
GVI iShares Intermediate Governm 1.56% 28,067 $3.0M Reduce -0.7%
PBMY Pgim S&P 500 Buffer 20-May 1.55% 99,405 $3.0M No change
BIV Vanguard Intermediate-Term B 1.53% 37,947 $3.0M Reduce -3.1%
PBAU Pgim S&P 500 Buffer 20-Aug 1.50% 96,541 $2.9M No change
MMAX iShares Larg CM Buff Mar ETF 1.38% 101,581 $2.7M Add +1.3%
IBTI iShares Ibonds Dec 2028 Term 1.34% 115,801 $2.6M Add +8.2%
VTI VG Morningstar TS MKT ETF-US 1.30% 7,473 $2.5M Reduce -12.3%
AOM iShares Core 40/60 Moderate 1.18% 47,767 $2.3M Add +42.2%
PBMR Pgim S&P 500 Buffer 20-Mar 1.15% 72,719 $2.2M Reduce -3.8%
IBTH iShares Ibonds Dec 2027 Term 1.13% 97,378 $2.2M Add +1.3%
SGOV iShares 0-3 Month Treasury B 1.13% 21,696 $2.2M Reduce -0.8%
IMCV iShares Morningstar Mid-Cap 1.08% 25,299 $2.1M Add +1.0%
BND Vanguard Total Bond Market 0.95% 24,870 $1.8M Add +23.6%
PBAP Pgim S&P 500 Buffer 20-Apr 0.91% 60,434 $1.8M Reduce -2.4%
PBSE Pgim S&P 500 Buffer 20-Sep 0.85% 55,826 $1.6M No change
VOO Vanguard S&P 500 ETF 0.84% 2,599 $1.6M Add +0.7%
AAPL Apple Inc. 0.80% 5,686 $1.5M Add +16.4%
VONE Vanguard Russell 1000 0.78% 4,858 $1.5M Add +18.8%
SPDW Ste STR SPDR PT DW Eu ETF 0.77% 33,256 $1.5M Add +20.5%
PBFB Pgim S&P 500 Buffer 20-Feb 0.76% 48,286 $1.5M Reduce -0.7%
IMCG iShares Morningstar Mid-Cap 0.74% 17,877 $1.4M Reduce -0.0%
IMCB iShares Morningstar Mid-Cap 0.72% 16,797 $1.4M Add +1.3%
IVV iShares Core S&P 500 ETF 0.71% 1,989 $1.4M Add +4.5%
CPNJ Calamos NSDQ100 Alt ETF 0.69% 49,128 $1.3M Reduce -3.8%
PBOC Pgim S&P 500 Buffer 20-Oct 0.68% 45,254 $1.3M Add +47.0%
PBJA Pgim S&P 500 Buffer 20-Jan 0.66% 41,401 $1.3M Add +9.4%
FEBW Alianzim US Eq BFR20 Feb-Usd 0.63% 36,049 $1.2M No change
JULT All US Equ BUF10 Jul ETF-Usd 0.63% 26,872 $1.2M No change
IBIJ Ishrs Ibnds Oct 2033 TRM 0.62% 46,126 $1.2M Add +2.0%
VWOB Vanguard Emerg MKTS Gov BND 0.61% 17,366 $1.2M Add +1.0%
PBDE Pgim S&P 500 Buffer 20-Dec 0.61% 39,721 $1.2M Add +79.4%
CPNS Calamos NSDQ 100 Alt Sept 0.59% 42,088 $1.1M Reduce -1.1%
CPSN Cal S&P 500 Sr At PR ETF - N 0.59% 42,074 $1.1M Reduce -16.3%
PMDE Pgim S&P 500 M Buff ETF Dec 0.54% 41,665 $1.0M New
IBTG iShares Ibonds Dec 2026 Term 0.53% 45,089 $1.0M Reduce -2.3%
IBTJ iShares Ibonds Dec 2029 Term 0.52% 45,624 $1.0M Add +36.3%
CPRJ Calamos Russ 2000 STR Al-Jul 0.52% 37,159 $995K No change
APRW Allinzim US Eq BFR20 Apr-Usd 0.51% 28,170 $982K No change
SMAX iShares L Cap MB Sep ETF 0.51% 36,141 $974K Reduce -0.7%
BSV Vanguard Short-Term Bond ETF 0.50% 12,242 $965K Add +0.6%
CPNM Class ND 100 St At PR ETF - Mar 0.50% 36,754 $956K No change
MSFT Microsoft Corp. 0.46% 1,840 $890K Reduce -6.9%
IBIE iShares Ibonds Oct 2028 TT 0.45% 33,763 $877K Add +24.5%
PMNV Pgim S&P 500 MX Bu ETF - Nov 0.43% 32,671 $822K New
PMMY Pgim S&P 500 Max Buf ETF May 0.38% 27,749 $727K No change
VWO Vanguard Ftse Emerging Marke 0.38% 13,518 $727K Add +16.7%
IBIF iShares Ibonds Oct 2029 TT 0.37% 27,584 $718K Add +37.5%
VNQ Vanguard Real Estate ETF 0.37% 8,094 $716K Add +8.5%
ISCV iShares Morningstar Small-Ca 0.36% 10,064 $689K Add +3.2%
DAPR FT Vest U.S. Equity Deep Buf 0.35% 17,303 $681K No change
CPNQ Cal Nasdaq 100 St Alt PR 0.35% 25,481 $677K Add +123.0%
ISCB iShares Morningstar SM Cap 0.34% 10,153 $660K Add +0.7%
MARW Alianzim US Eq BFR20 Mar-Usd 0.34% 19,190 $659K No change
CPSY Calamos S&P 500 Sap ETF Jan 0.34% 25,796 $647K No change
JUNW Alianzim US Eq BFR20 Jun-Usd 0.34% 19,376 $647K No change
MUB iShares National Muni Bond E 0.32% 5,830 $624K Reduce -0.2%
NVBW Alnzim US Eqt BFR2 No Et-Usd 0.32% 18,344 $621K Add +177.6%
CPSF Calms S&P 500 S PR ETF - Feb 0.31% 23,714 $607K No change
IBIG iShares Ibonds Oct 2030 TT 0.31% 23,269 $606K Add +31.9%
IWF iShares Russell 1000 Growth 0.31% 1,261 $597K Reduce -35.2%
DMAY FT Vest US Equity Deep Buffe 0.31% 13,131 $594K No change
PMSE Pgim S&P 500 MF ETF - Sep 0.30% 22,812 $582K No change
AMZN Amazon.com Inc. 0.29% 2,440 $563K Reduce -19.0%
VTV Vanguard Mrngstr Val ETF-Aui 0.28% 2,824 $539K Add +13.0%
IBTK iShares Ibonds Dec 2030 Trea 0.28% 27,094 $538K Add +59.7%
MAYW Alianzim US Eq BFR20 May-Usd 0.28% 15,889 $533K No change
SCHF Schwab Intl Equity ETF 0.27% 22,031 $530K Reduce -31.6%
IVW iShares S&P 500 Growth ETF 0.26% 4,093 $505K Add +0.1%
SCHD Schwab US DVD Equity ETF 0.26% 18,349 $503K New
NVDA Nvidia Corp. 0.26% 2,662 $496K No change
PMAU Pgim S&P 500 MB ETF-Aug 0.26% 19,202 $495K No change
DFEB FT Vest U.S. Equity Deep Buf 0.25% 10,014 $478K No change
STPZ PIMCO 1-5 Year US Tips Index 0.24% 8,622 $463K Reduce -1.0%
IBTL iShares Ibonds Dec 2031 Term 0.23% 21,615 $444K Add +74.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.23% 640 $436K Add +26.0%
ZJUL Innovator Edp ETF 1 YR July 0.22% 14,495 $421K No change
BLV Vanguard Long-Term Bond ETF 0.22% 6,050 $421K Reduce -2.6%
DMAR FT Vest US Equity Deep Buffe 0.22% 10,018 $417K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.21% 1,948 $413K New
IBMP iShares Ibonds Dec 2027 Term 0.21% 16,228 $412K Add +0.8%
VB Vanguard Most SM-Cap ETF-Usd 0.21% 1,571 $405K Add +0.7%
NVBT All US Equ BUF10 Nov ETF-Usd 0.21% 10,739 $396K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.20% 1,356 $394K Add +20.4%
DJAN FT Vest U.S. Equity Deep Buf 0.19% 8,492 $369K No change
SEPT All US Equ BUF10 Sep ETF-Usd 0.19% 10,427 $367K No change
IBIH iShares Ibonds Oct 2031 TT 0.19% 14,065 $366K New
JPM JPMorgan Chase & Co. 0.19% 1,117 $360K Add +0.2%
IBMQ iShares Ibonds Dec 2028 Muni 0.18% 13,806 $353K Add +0.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.18% 2,995 $341K No change
NVO Novo-Nordisk A/S-Spons ADR 0.17% 6,544 $333K No change
CPSP Calamos S&P 500 STR Alt Apr 0.17% 12,746 $332K No change
DJUN FT Vest US Equity Deep Buffe 0.17% 6,972 $330K Reduce -30.1%
BMY Bristol-Myers Squibb Co. 0.17% 6,076 $328K No change
RPV Invesco S&P 500 Pure Value E 0.17% 3,165 $327K Add +0.5%
IBID iShares Ibonds Oct 2027 TT 0.17% 12,556 $324K Add +8.7%
OCTW Alianzim US Eq BFR20 Oct-Usd 0.16% 8,140 $317K No change
VGT Vanguard Info Tech ETF 0.16% 406 $306K Reduce -36.2%
MAYT All US Equ BUF10 May ETF-Usd 0.15% 8,094 $299K No change
RWO State Street SPDR Dow Jones 0.15% 6,514 $293K Reduce -3.6%
DJUL FT Vest US Equity Deep Buffe 0.15% 6,131 $292K No change
VEU Vanguard Ftse All-World Ex-U 0.15% 3,877 $285K New
ISCG iShares Morningstar Small-Ca 0.15% 5,096 $283K Add +7.2%
IBIC iShares Ibonds Oct 2026 TT 0.15% 10,987 $281K Reduce -11.4%
IWP iShares Russell Mid-Cap Grow 0.15% 2,047 $280K Reduce -38.0%
CPSR Cal S&P 500 St Alt P ETF - M 0.14% 10,901 $275K No change
VHT Vanguard Health Care ETF 0.14% 937 $270K Add +0.3%
SCHX Schwab US Large-Cap ETF 0.14% 9,955 $268K Reduce -46.1%
VXUS Vanguard Total Intl Stock 0.14% 3,520 $266K Add +1.0%
IJH iShares Core S&P Midcap ETF 0.14% 3,986 $263K Add +2.2%
RSP Invesco S&P 500 Equal Weight 0.14% 1,370 $262K Add +0.8%
LLY Eli Lilly & Co. 0.13% 239 $257K New
SCHA Schwab US Small-Cap ETF 0.13% 8,846 $252K New
BNDX Vanguard Total Intl Bond ETF 0.13% 5,159 $249K Add +19.4%
IXUS iShares Core Intl Stock ETF 0.13% 2,945 $249K No change
DOCT FT Vest U.S. Equity Deep Buf 0.13% 5,549 $246K New
VUG Vanguard Mrngstar GR ETF-Sui 0.12% 493 $240K New
AUGT Allianzim US Eq BFFR10 AG-US 0.12% 6,670 $238K No change
AVUV Avantis US Small Cap Value 0.12% 2,289 $233K Add +0.3%
EMXC iShares MSCI Emr MRK Ex Chna 0.12% 3,193 $232K New
FEBT Allianzim US Eq BFFR10 FB-US 0.12% 6,048 $230K No change
USMV iShares MSCI USA Min Vol Fac 0.12% 2,443 $230K Add +0.2%
FITB Fifth Third Bancorp 0.12% 4,915 $230K New
SLYV SS SPDR S&P 600 SC Val ETF 0.12% 2,523 $230K Add +0.6%
IJR iShares Core S&P Small-Cap E 0.11% 1,828 $220K Add +1.0%
XLK SS Technology Select Sector 0.11% 1,482 $213K Reduce -8.3%
ET Energy Transfer LP 0.11% 12,468 $206K Add +2.0%
Other holdings (1): bonds, preferreds, convertibles and warrants · $10K (not counted above)
SecurityClassShares / PrincipalValueChange
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) NOTE 5.125%11/1 · principal 10,000$10KNew

Total filed on the 13F, all lines: $192.9M.

Portfolio Sells Q3 2025 → Q4 2025
VBIL Vanguard 0-3M T-Bill ETF Reduce -35.2% 5.55% −3.68
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -5.0% 2.03% −0.28
VTI VG Morningstar TS MKT ETF-US Reduce -12.3% 1.30% −0.26
IBIB iShares Ibonds Oct 2025 TT Sold out 0.00% −0.26
VEA Vanguard Ftse Developed ETF Reduce -2.7% 3.79% −0.23
IWF iShares Russell 1000 Growth Reduce -35.2% 0.31% −0.20
SPEM State Street SP PTF Em ETF Reduce -4.2% 1.60% −0.20
BIV Vanguard Intermediate-Term B Reduce -3.1% 1.53% −0.17
ILCG iShares Morningstar Growth E Reduce -1.6% 1.79% −0.17
DECW Alianzim US Eq BFR20 Dec-Usd Sold out 0.00% −0.17
IYJ iShares U.S. Industrials ETF Sold out 0.00% −0.17
SCHM Schwab US Mid Cap ETF Sold out 0.00% −0.16
CPSN Cal S&P 500 Sr At PR ETF - N Reduce -16.3% 0.59% −0.16
IYK iShares US Consumer Staples Sold out 0.00% −0.14
SCHF Schwab Intl Equity ETF Reduce -31.6% 0.27% −0.14
IBTF iShares Ibonds Dec 2025 Term Sold out 0.00% −0.14
IYC iShares US Consumer Discreti Sold out 0.00% −0.14
SCHX Schwab US Large-Cap ETF Reduce -46.1% 0.14% −0.13
GVI iShares Intermediate Governm Reduce -0.7% 1.56% −0.13
IEFA iShares Core MSCI Eafe ETF Sold out 0.00% −0.13
IWP iShares Russell Mid-Cap Grow Reduce -38.0% 0.15% −0.12
ILCB iShares Morningstar U.S. Equ Reduce -1.1% 1.75% −0.11
IWO iShares Russell 2000 Growth Sold out 0.00% −0.11
MSFT Microsoft Corp. Reduce -6.9% 0.46% −0.11
PBMR Pgim S&P 500 Buffer 20-Mar Reduce -3.8% 1.15% −0.11
VGT Vanguard Info Tech ETF Reduce -36.2% 0.16% −0.11
SGOV iShares 0-3 Month Treasury B Reduce -0.8% 1.13% −0.10
DJUN FT Vest US Equity Deep Buffe Reduce -30.1% 0.17% −0.09
IMCG iShares Morningstar Mid-Cap Reduce -0.0% 0.74% −0.08
AMZN Amazon.com Inc. Reduce -19.0% 0.29% −0.08
PBAP Pgim S&P 500 Buffer 20-Apr Reduce -2.4% 0.91% −0.07
CPNJ Calamos NSDQ100 Alt ETF Reduce -3.8% 0.69% −0.07
ILCV iShares Morningstar Value Et Reduce -1.3% 1.75% −0.07
IBTG iShares Ibonds Dec 2026 Term Reduce -2.3% 0.53% −0.06
CPNS Calamos NSDQ 100 Alt Sept Reduce -1.1% 0.59% −0.05
PBFB Pgim S&P 500 Buffer 20-Feb Reduce -0.7% 0.76% −0.04
SMAX iShares L Cap MB Sep ETF Reduce -0.7% 0.51% −0.04
IBIC iShares Ibonds Oct 2026 TT Reduce -11.4% 0.15% −0.03
BLV Vanguard Long-Term Bond ETF Reduce -2.6% 0.22% −0.03
STPZ PIMCO 1-5 Year US Tips Index Reduce -1.0% 0.24% −0.02
MUB iShares National Muni Bond E Reduce -0.2% 0.32% −0.02
RWO State Street SPDR Dow Jones Reduce -3.6% 0.15% −0.02
XLK SS Technology Select Sector Reduce -8.3% 0.11% −0.02

Portfolio Buys Q3 2025 → Q4 2025
AOR iShares Core 60/40 Balanced Add +34.2% 13.21% +2.73
AOA iShares Core 80/20 Aggressiv Add +25.6% 8.91% +1.40
PBNV Pgim S&P 500 Buffer 20-Nov Add +332.1% 1.71% +1.29
PMDE Pgim S&P 500 M Buff ETF Dec New 0.54% +0.54
PMNV Pgim S&P 500 MX Bu ETF - Nov New 0.43% +0.43
AOM iShares Core 40/60 Moderate Add +42.2% 1.18% +0.29
SCHD Schwab US DVD Equity ETF New 0.26% +0.26
PBDE Pgim S&P 500 Buffer 20-Dec Add +79.4% 0.61% +0.25
VBR Vngrd Mrngst SL-CP Val ETF-U New 0.21% +0.21
NVBW Alnzim US Eqt BFR2 No Et-Usd Add +177.6% 0.32% +0.20
PBOC Pgim S&P 500 Buffer 20-Oct Add +47.0% 0.68% +0.19
IBIH iShares Ibonds Oct 2031 TT New 0.19% +0.19
CPNQ Cal Nasdaq 100 St Alt PR Add +123.0% 0.35% +0.18
VEU Vanguard Ftse All-World Ex-U New 0.15% +0.15
LLY Eli Lilly & Co. New 0.13% +0.13
SCHA Schwab US Small-Cap ETF New 0.13% +0.13
DOCT FT Vest U.S. Equity Deep Buf New 0.13% +0.13
VUG Vanguard Mrngstar GR ETF-Sui New 0.12% +0.12
BND Vanguard Total Bond Market Add +23.6% 0.95% +0.12
EMXC iShares MSCI Emr MRK Ex Chna New 0.12% +0.12
FITB Fifth Third Bancorp New 0.12% +0.12
IBTJ iShares Ibonds Dec 2029 Term Add +36.3% 0.52% +0.11
AAPL Apple Inc. Add +16.4% 0.80% +0.11
SPDW Ste STR SPDR PT DW Eu ETF Add +20.5% 0.77% +0.11
IBTK iShares Ibonds Dec 2030 Trea Add +59.7% 0.28% +0.09
VONE Vanguard Russell 1000 Add +18.8% 0.78% +0.09
IBTL iShares Ibonds Dec 2031 Term Add +74.1% 0.23% +0.09
IBIF iShares Ibonds Oct 2029 TT Add +37.5% 0.37% +0.08
IBIE iShares Ibonds Oct 2028 TT Add +24.5% 0.45% +0.05
IBIG iShares Ibonds Oct 2030 TT Add +31.9% 0.31% +0.05
SPY SS SPDR S&P 500 ETF Trust-US Add +26.0% 0.23% +0.04
PBJA Pgim S&P 500 Buffer 20-Jan Add +9.4% 0.66% +0.03
VWO Vanguard Ftse Emerging Marke Add +16.7% 0.38% +0.03
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +20.4% 0.20% +0.02
VTV Vanguard Mrngstr Val ETF-Aui Add +13.0% 0.28% +0.02
BNDX Vanguard Total Intl Bond ETF Add +19.4% 0.13% +0.01
IBTI iShares Ibonds Dec 2028 Term Add +8.2% 1.34% +0.01
VHT Vanguard Health Care ETF Add +0.3% 0.14% +0.00
ISCG iShares Morningstar Small-Ca Add +7.2% 0.15% +0.00
IBID iShares Ibonds Oct 2027 TT Add +8.7% 0.17% −0.00
IVV iShares Core S&P 500 ETF Add +4.5% 0.71% −0.00
ISCV iShares Morningstar Small-Ca Add +3.2% 0.36% −0.00
RPV Invesco S&P 500 Pure Value E Add +0.5% 0.17% −0.00
SLYV SS SPDR S&P 600 SC Val ETF Add +0.6% 0.12% −0.00
VXUS Vanguard Total Intl Stock Add +1.0% 0.14% −0.01
AVUV Avantis US Small Cap Value Add +0.3% 0.12% −0.01
IJH iShares Core S&P Midcap ETF Add +2.2% 0.14% −0.01
IJR iShares Core S&P Small-Cap E Add +1.0% 0.11% −0.01
RSP Invesco S&P 500 Equal Weight Add +0.8% 0.14% −0.01
VNQ Vanguard Real Estate ETF Add +8.5% 0.37% −0.01

Notes & Other Activity Q3 2025 → Q4 2025
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) NOTE 5.125%11/1 · principal New 10,000 $10K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 152$248.6MAOR, AOA, VBIL, VEA, BND
Q1 2026 139$205.5MAOR, AOA, VBIL, VEA, VTI
Q4 2025 138$192.9MAOR, AOA, VBIL, VEA, BIL
Q3 2025 135$179.4MAOR, VBIL, AOA, VEA, BIL
Q2 2025 113$146.6MAOR, AOA, VEA, VBIL, BIL
Q1 2025 101$128.5MAOR, AOA, VEA, BIL, SGOV
Q4 2024 93$115.8MBIL, AOR, VEA, AOA, SGOV
Q3 2024 83$102.3MBIL, AOR, VEA, AOA, BIV