Note Advisors, LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Note Advisors, LLC reported 86 stock positions worth $230.6 million. Its top holding was Dimensional US Core Equity M (DFAU) at 23.8% of the portfolio, followed by Dimensional Core Fixed (DFCF, 10.6%) and Dimensional International (DFAI, 8.3%). Compared with Q1 2026, it opened 3 new positions, sold out of 2, added to 32 and reduced 35. The biggest buy was Dimensional US Core Equity M (DFAU, shares +13%) and the biggest sale Ssga Active TR (shares −78%).

Most Recent 13F
Q2 2026
Location
BUFFALO, NY
CIK
0002056243
Portfolio Value
$230.6M (Q2 2026)
SEC Filing
0002056243-26-000003 ↗ filed Aug 14, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q4 2024: $112.9M Q4 2024 Q1 2025: $121.1M Q1 2025 Q2 2025: $144.6M Q2 2025 Q3 2025: $168.2M Q3 2025 Q4 2025: $194.9M Q4 2025 Q1 2026: $200.1M Q1 2026 Q2 2026: $230.6M $230.6M Q2 2026

Holdings 86 stocks · $230.6M
DFAU Dimensional US Core Equity M 23.77% 1,060,382 $54.8M Add +13.2%
DFCF Dimensional Core Fixed Inc. 10.60% 579,174 $24.4M Add +21.5%
DFAI Dimensional International Co. 8.27% 462,050 $19.1M Add +12.8%
DFAC Dimensional US Core Equity 2 4.87% 253,344 $11.2M Add +1.2%
BND Vanguard Total Bond Market 3.98% 125,032 $9.2M Add +7.0%
DFAE Dimensional Emerging Core Eq 3.32% 190,093 $7.6M Add +2.4%
VONE Vanguard Russell 1000 3.14% 21,373 $7.2M Reduce -3.1%
VNQ Vanguard Real Estate ETF 2.57% 61,419 $5.9M Add +0.6%
NYF iShares New York Muni Bond E 2.35% 100,569 $5.4M Add +4.4%
VYMI Vanguard Int High DVD YLD Inc. 2.31% 54,128 $5.3M Add +3.6%
FPE FT-Preferred Secur & Inc. ETF 1.83% 235,753 $4.2M Add +10.0%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 1.81% 38,208 $4.2M Add +9.2%
DFGX Dimsnl Intr CF in ETF-Usd Inc. 1.60% 68,806 $3.7M Add +12.0%
BNDX Vanguard Total Intl Bond ETF 1.53% 72,898 $3.5M Reduce -1.4%
VEA Vanguard Ftse Developed ETF 1.40% 45,281 $3.2M Add +0.9%
SPIP SS SPDR P Tips ETF 1.35% 120,853 $3.1M Add +5.2%
DFAR Dimensional US Real Est ETF 1.30% 114,242 $3.0M Add +19.4%
DFNM Dimensional National Muni BD 1.29% 61,502 $3.0M Add +6.5%
QYLD Global X Nasd 100 Cov Call 1.22% 152,902 $2.8M Add +2.3%
DCOR Dimensional US Core Eq 1 ETF 1.19% 33,347 $2.7M Add +10.1%
COMT iShares Gsci Commodity Dynam 1.06% 80,288 $2.4M Add +8.5%
SCHD Schwab US DVD Equity ETF 1.05% 76,417 $2.4M Add +2.6%
JEPI JPMorgan Equity Premium Inco 1.02% 41,575 $2.3M Add +5.8%
VIG Vanguard Dividend Apprec ETF 1.00% 9,769 $2.3M Add +3.5%
GOOG Alphabet Inc. Class C 0.97% 6,326 $2.2M Reduce -0.5%
VTEB Vanguard Tax-Exempt Bond ETF 0.84% 38,465 $1.9M Add +8.4%
PZT Invesco New York Amt-Free Mu 0.80% 81,448 $1.9M Add +11.3%
EMHY iShares J.P. Morgan Em High 0.65% 36,663 $1.5M New
IXUS iShares Core Intl Stock ETF 0.57% 13,852 $1.3M Reduce -0.0%
IWB iShares Russell 1000 ETF 0.56% 3,165 $1.3M Reduce -0.1%
DFIC Dimensional International Co. 0.52% 32,307 $1.2M Add +0.1%
SPHY SS SPDR P High Yield ETF 0.51% 50,622 $1.2M Add +5.8%
TIP iShares Tips Bond ETF 0.51% 10,763 $1.2M Reduce -5.8%
AAPL Apple Inc. 0.48% 3,791 $1.1M Reduce -2.1%
MCD McDonald's Corp. 0.47% 4,027 $1.1M No change
MUB iShares National Muni Bond E 0.45% 9,677 $1.0M Reduce -1.5%
IAGG iShares Intl Aggregate Bond 0.42% 19,332 $978K Reduce -3.0%
GIGB Goldman Sachs Inv GRD Corp. 0.40% 19,971 $917K Reduce -11.4%
NBTB N B T Bancorp Inc. 0.39% 18,048 $891K Add +0.9%
MSFT Microsoft Corp. 0.34% 2,125 $793K Reduce -13.9%
UAL United Airlines Holdings Inc. 0.34% 5,813 $791K Reduce -1.2%
VTC Vanguard Total Corporate BND 0.31% 9,310 $715K No change
VWO Vanguard Ftse Emerging Marke 0.27% 10,571 $631K Reduce -0.7%
GOOGL Alphabet Inc. Class A 0.25% 1,637 $585K Reduce -4.7%
AVGO Broadcom Inc. 0.25% 1,497 $565K No change
QQQ Invesco QQQ Trust Series 1 0.22% 696 $513K No change
VTWV Vanguard Russell 2000 Value 0.21% 2,527 $494K Add +1.5%
VXUS Vanguard Total Intl Stock 0.21% 5,686 $486K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.21% 2,199 $479K Reduce -0.3%
XHLF Bondbloxx BBG 6 MTH US Treas 0.21% 9,416 $474K Reduce -49.6%
XYLD Global X S&P 500 Cove Call E 0.20% 11,057 $451K Reduce -6.4%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.19% 2,263 $447K Reduce -0.5%
BRK.B Berkshire Hathaway Inc. Class B 0.19% 853 $427K Reduce -0.7%
DFIP Dimensional Inflation-Protec 0.18% 10,249 $423K No change
ADI Analog Devices Inc. 0.18% 1,059 $421K Reduce -2.8%
VWOB Vanguard Emerg MKTS Gov BND 0.18% 6,238 $419K Reduce -41.3%
SCHZ Schwab US Aggregate Bond ETF 0.18% 17,981 $416K Add +2.3%
AMZN Amazon.com Inc. 0.17% 1,660 $396K Reduce -15.5%
SCHR Schwab Intermediate-Term US 0.16% 14,968 $369K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.16% 1,539 $366K Reduce -1.5%
AGG iShares Core U.S. Aggregate 0.16% 3,695 $366K Add +1.0%
SGOV iShares 0-3 Month Treasury B 0.16% 3,632 $366K No change
PFFD Global X US Preferred ETF 0.15% 18,138 $339K Reduce -15.3%
META Meta Platforms Inc. Class A 0.14% 584 $329K Add +6.6%
EEM iShares MSCI Emerging Market 0.14% 4,745 $325K No change
ESGU iShares ESG Aware MSCI USA 0.14% 1,974 $323K No change
SSGA ACTIVE TR 0.13% 7,154 $306K Reduce -78.2%
BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS 0.13% 8,944 $305K Add +27.9%
HD Home Depot Inc. 0.12% 814 $287K Reduce -15.4%
DGRO iShares Core Dividend Growth 0.12% 3,657 $277K Reduce -0.8%
SPYV SS SPDR P S&P 500 Value ETF 0.12% 4,484 $273K No change
JPM JPMorgan Chase & Co. 0.11% 803 $263K Reduce -3.0%
XOM Exxon Mobil Corp. 0.11% 1,872 $256K No change
HDV iShares Core High Dividend E 0.11% 9,271 $254K Reduce -2.3%
C Citigroup Inc. 0.11% 1,735 $243K Reduce -6.9%
WMT Walmart Inc. 0.11% 2,142 $243K No change
VTI VG Morningstar TS MKT ETF-US 0.10% 652 $241K Reduce -63.2%
TSLA Tesla Inc. 0.10% 552 $232K No change
MDYV SS SPDR S&P 400 MC Val ETF 0.10% 2,403 $228K No change
SCZ iShares MSCI Eafe Small-Cap 0.10% 2,764 $227K Reduce -0.2%
EVSD Eaton Vance SHRT Dur Inc. 0.10% 4,364 $222K No change
SPYM Ste STR SPDR PT S&P 500 ETF 0.10% 2,519 $221K New
NVDA Nvidia Corp. 0.09% 1,060 $212K Reduce -25.9%
ICF iShares Select U.S. REIT ETF 0.09% 3,079 $208K Reduce -15.7%
SCHX Schwab US Large-Cap ETF 0.09% 6,887 $203K New
COR Cencora Inc. 0.09% 712 $201K Reduce -2.9%

Portfolio Sells Q1 2026 → Q2 2026
SSGA ACTIVE TR Reduce -78.2% 0.13% −0.57
XHLF Bondbloxx BBG 6 MTH US Treas Reduce -49.6% 0.21% −0.26
BNDX Vanguard Total Intl Bond ETF Reduce -1.4% 1.53% −0.25
VTI VG Morningstar TS MKT ETF-US Reduce -63.2% 0.10% −0.18
VWOB Vanguard Emerg MKTS Gov BND Reduce -41.3% 0.18% −0.17
TIP iShares Tips Bond ETF Reduce -5.8% 0.51% −0.12
GIGB Goldman Sachs Inv GRD Corp. Reduce -11.4% 0.40% −0.12
VONE Vanguard Russell 1000 Reduce -3.1% 3.14% −0.12
GLTR Abrdn Precious Metals Basket Sold out 0.00% −0.11
MSFT Microsoft Corp. Reduce -13.9% 0.34% −0.11
ANGL Vaneck Fallen Angel High YLD Sold out 0.00% −0.11
IAGG iShares Intl Aggregate Bond Reduce -3.0% 0.42% −0.07
MUB iShares National Muni Bond E Reduce -1.5% 0.45% −0.07
PFFD Global X US Preferred ETF Reduce -15.3% 0.15% −0.05
XYLD Global X S&P 500 Cove Call E Reduce -6.4% 0.20% −0.04
HD Home Depot Inc. Reduce -15.4% 0.12% −0.03
AMZN Amazon.com Inc. Reduce -15.5% 0.17% −0.03
NVDA Nvidia Corp. Reduce -25.9% 0.09% −0.03
COR Cencora Inc. Reduce -2.9% 0.09% −0.03
IXUS iShares Core Intl Stock ETF Reduce -0.0% 0.57% −0.03
ICF iShares Select U.S. REIT ETF Reduce -15.7% 0.09% −0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 0.19% −0.02
HDV iShares Core High Dividend E Reduce -2.3% 0.11% −0.02
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -0.5% 0.19% −0.02
AAPL Apple Inc. Reduce -2.1% 0.48% −0.02
VWO Vanguard Ftse Emerging Marke Reduce -0.7% 0.27% −0.01
SCZ iShares MSCI Eafe Small-Cap Reduce -0.2% 0.10% −0.01
DGRO iShares Core Dividend Growth Reduce -0.8% 0.12% −0.01
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.3% 0.21% −0.01
JPM JPMorgan Chase & Co. Reduce -3.0% 0.11% −0.01
IWB iShares Russell 1000 ETF Reduce -0.1% 0.56% −0.00
MTB M & T Bank Corp. Reduce -1.5% 0.16% −0.00
C Citigroup Inc. Reduce -6.9% 0.11% −0.00
GOOGL Alphabet Inc. Class A Reduce -4.7% 0.25% +0.01
ADI Analog Devices Inc. Reduce -2.8% 0.18% +0.01
GOOG Alphabet Inc. Class C Reduce -0.5% 0.97% +0.06
UAL United Airlines Holdings Inc. Reduce -1.2% 0.34% +0.07

Portfolio Buys Q1 2026 → Q2 2026
DFAU Dimensional US Core Equity M Add +13.2% 23.77% +2.64
EMHY iShares J.P. Morgan Em High New 0.65% +0.65
DFCF Dimensional Core Fixed Inc. Add +21.5% 10.60% +0.55
DFAI Dimensional International Co. Add +12.8% 8.27% +0.29
DFAE Dimensional Emerging Core Eq Add +2.4% 3.32% +0.17
DFAR Dimensional US Real Est ETF Add +19.4% 1.30% +0.17
SPYM Ste STR SPDR PT S&P 500 ETF New 0.10% +0.10
DCOR Dimensional US Core Eq 1 ETF Add +10.1% 1.19% +0.09
SCHX Schwab US Large-Cap ETF New 0.09% +0.09
DFAC Dimensional US Core Equity 2 Add +1.2% 4.87% +0.01
BCD Abrdn Bloomberg All Commodit Add +27.9% 0.13% +0.01
VTWV Vanguard Russell 2000 Value Add +1.5% 0.21% +0.01
NBTB N B T Bancorp Inc. Add +0.9% 0.39% +0.01
PZT Invesco New York Amt-Free Mu Add +11.3% 0.80% −0.00
DFGX Dimsnl Intr CF in ETF-Usd Inc. Add +12.0% 1.60% −0.01
VIG Vanguard Dividend Apprec ETF Add +3.5% 1.00% −0.01
META Meta Platforms Inc. Class A Add +6.6% 0.14% −0.01
AGG iShares Core U.S. Aggregate Add +1.0% 0.16% −0.02
SCHZ Schwab US Aggregate Bond ETF Add +2.3% 0.18% −0.02
VEA Vanguard Ftse Developed ETF Add +0.9% 1.40% −0.04
VTEB Vanguard Tax-Exempt Bond ETF Add +8.4% 0.84% −0.04
SPHY SS SPDR P High Yield ETF Add +5.8% 0.51% −0.04
DFIC Dimensional International Co. Add +0.1% 0.52% −0.05
QYLD Global X Nasd 100 Cov Call Add +2.3% 1.22% −0.06
FPE FT-Preferred Secur & Inc. ETF Add +10.0% 1.83% −0.07
SCHD Schwab US DVD Equity ETF Add +2.6% 1.05% −0.09
DFNM Dimensional National Muni BD Add +6.5% 1.29% −0.09
JEPI JPMorgan Equity Premium Inco Add +5.8% 1.02% −0.09
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +9.2% 1.81% −0.10
VNQ Vanguard Real Estate ETF Add +0.6% 2.57% −0.14
SPIP SS SPDR P Tips ETF Add +5.2% 1.35% −0.15
VYMI Vanguard Int High DVD YLD Inc. Add +3.6% 2.31% −0.16
COMT iShares Gsci Commodity Dynam Add +8.5% 1.06% −0.19
NYF iShares New York Muni Bond E Add +4.4% 2.35% −0.21
BND Vanguard Total Bond Market Add +7.0% 3.98% −0.32

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 86$230.6MDFAU, DFCF, DFAI, DFAC, BND
Q1 2026 85$200.1MDFAU, DFCF, DFAI, DFAC, BND
Q4 2025 82$194.9MDFAU, DFCF, DFAI, DFAC, BND
Q3 2025 83$168.2MDFAU, DFCF, DFAI, BND, VONE
Q2 2025 74$144.6MDFAU, DFAI, DFCF, BND, VONE
Q1 2025 74$121.1MDFAU, DFAI, DFCF, BND, VONE
Q4 2024 75$112.9MDFAU, DFAI, BND, VONE, DFCF