Note Advisors, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Note Advisors, LLC reported 85 stock positions worth $200.1 million. Its top holding was Dimensional US Core Equity M (DFAU) at 21.1% of the portfolio, followed by Dimensional Core Fixed (DFCF, 10.1%) and Dimensional International (DFAI, 8.0%). Compared with Q4 2025, it opened 4 new positions, sold out of 1, added to 41 and reduced 15. The biggest buy was a new position in FT-Preferred Secur & Inc. ETF (FPE) and the biggest sale Global X US Preferred ETF (PFFD, shares −85%).

Most Recent 13F
Q2 2026
Location
BUFFALO, NY
CIK
0002056243
Portfolio Value
$200.1M (Q1 2026)
SEC Filing
0002056243-26-000002 ↗ filed May 15, 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 $200.1M Q1 2026 Q2 2026: $230.6M Q2 2026

Holdings 85 stocks · $200.1M
DFAU Dimensional US Core Equity M 21.13% 937,081 $42.3M Add +8.8%
DFCF Dimensional Core Fixed Inc. 10.06% 476,577 $20.1M Add +7.9%
DFAI Dimensional International Co. 7.97% 409,445 $16.0M Add +5.5%
DFAC Dimensional US Core Equity 2 4.86% 250,336 $9.7M Add +1.5%
BND Vanguard Total Bond Market 4.30% 116,845 $8.6M Add +5.8%
VONE Vanguard Russell 1000 3.26% 22,069 $6.5M Reduce -1.6%
DFAE Dimensional Emerging Core Eq 3.14% 185,564 $6.3M Add +4.2%
VNQ Vanguard Real Estate ETF 2.71% 61,033 $5.4M Add +3.1%
NYF iShares New York Muni Bond E 2.56% 96,345 $5.1M Add +1.8%
VYMI Vanguard Int High DVD YLD Inc. 2.46% 52,245 $4.9M Add +1.5%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 1.91% 34,987 $3.8M Add +4.6%
FPE FT-Preferred Secur & Inc. ETF 1.90% 214,241 $3.8M New
BNDX Vanguard Total Intl Bond ETF 1.78% 73,974 $3.6M Add +1.9%
DFGX Dimsnl Intr CF in ETF-Usd Inc. 1.61% 61,430 $3.2M Add +5.1%
SPIP SS SPDR P Tips ETF 1.49% 114,850 $3.0M Add +6.0%
VEA Vanguard Ftse Developed ETF 1.44% 44,890 $2.9M Reduce -0.0%
DFNM Dimensional National Muni BD 1.38% 57,721 $2.8M Add +9.9%
QYLD Global X Nasd 100 Cov Call 1.28% 149,408 $2.6M Add +4.5%
COMT iShares Gsci Commodity Dynam 1.25% 74,005 $2.5M Reduce -4.2%
SCHD Schwab US DVD Equity ETF 1.14% 74,463 $2.3M Add +1.9%
DFAR Dimensional US Real Est ETF 1.13% 95,695 $2.3M Add +4.3%
JEPI JPMorgan Equity Premium Inco 1.11% 39,289 $2.2M Add +4.8%
DCOR Dimensional US Core Eq 1 ETF 1.09% 30,294 $2.2M Add +14.7%
VIG Vanguard Dividend Apprec ETF 1.01% 9,440 $2.0M Add +5.0%
GOOG Alphabet Inc. Class C 0.91% 6,356 $1.8M Add +0.3%
VTEB Vanguard Tax-Exempt Bond ETF 0.89% 35,494 $1.8M Reduce -1.2%
PZT Invesco New York Amt-Free Mu 0.81% 73,198 $1.6M Add +6.5%
SSGA ACTIVE TR 0.70% 32,872 $1.4M Add +7.3%
TIP iShares Tips Bond ETF 0.63% 11,432 $1.3M Reduce -1.1%
MCD McDonald's Corp. 0.63% 4,027 $1.3M No change
IXUS iShares Core Intl Stock ETF 0.60% 13,856 $1.2M No change
DFIC Dimensional International Co. 0.57% 32,269 $1.1M Reduce -0.4%
IWB iShares Russell 1000 ETF 0.56% 3,168 $1.1M No change
SPHY SS SPDR P High Yield ETF 0.56% 47,870 $1.1M Add +7.9%
MUB iShares National Muni Bond E 0.52% 9,828 $1.0M Add +1.2%
GIGB Goldman Sachs Inv GRD Corp. 0.52% 22,551 $1.0M Add +28.7%
IAGG iShares Intl Aggregate Bond 0.50% 19,933 $997K Add +6.4%
AAPL Apple Inc. 0.49% 3,871 $983K No change
XHLF Bondbloxx BBG 6 MTH US Treas 0.47% 18,687 $941K Reduce -0.4%
MSFT Microsoft Corp. 0.46% 2,468 $914K Reduce -1.3%
NBTB N B T Bancorp Inc. 0.38% 17,879 $761K Reduce -8.5%
VTC Vanguard Total Corporate BND 0.36% 9,310 $715K No change
VWOB Vanguard Emerg MKTS Gov BND 0.35% 10,623 $698K Add +2.3%
VWO Vanguard Ftse Emerging Marke 0.29% 10,647 $575K Add +7.5%
VTI VG Morningstar TS MKT ETF-US 0.28% 1,772 $568K Add +14.8%
UAL United Airlines Holdings Inc. 0.27% 5,884 $542K No change
GOOGL Alphabet Inc. Class A 0.25% 1,717 $494K No change
AVGO Broadcom Inc. 0.23% 1,497 $463K No change
XYLD Global X S&P 500 Cove Call E 0.23% 11,808 $462K Add +2.3%
VXUS Vanguard Total Intl Stock 0.22% 5,686 $438K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.22% 2,205 $433K No change
DFIP Dimensional Inflation-Protec 0.21% 10,249 $428K Reduce -0.0%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.21% 2,274 $419K Add +4.5%
VTWV Vanguard Russell 2000 Value 0.21% 2,490 $416K Add +0.2%
BRK.B Berkshire Hathaway Inc. Class B 0.21% 859 $412K No change
AMZN Amazon.com Inc. 0.20% 1,964 $409K Add +6.4%
SCHZ Schwab US Aggregate Bond ETF 0.20% 17,580 $408K Add +16.3%
QQQ Invesco QQQ Trust Series 1 0.20% 696 $402K No change
PFFD Global X US Preferred ETF 0.20% 21,416 $394K Reduce -85.3%
SCHR Schwab Intermediate-Term US 0.19% 14,968 $373K No change
SGOV iShares 0-3 Month Treasury B 0.18% 3,632 $366K No change
AGG iShares Core U.S. Aggregate 0.18% 3,660 $363K Add +1.7%
ADI Analog Devices Inc. 0.17% 1,090 $347K Add +0.1%
MTB M & T Bank Corp. filed as M & T BK CORP 0.16% 1,562 $323K Add +0.1%
XOM Exxon Mobil Corp. 0.16% 1,872 $318K Reduce -0.6%
HD Home Depot Inc. 0.16% 962 $316K Add +6.0%
META Meta Platforms Inc. Class A 0.16% 548 $314K Add +21.8%
ESGU iShares ESG Aware MSCI USA 0.14% 1,974 $279K No change
EEM iShares MSCI Emerging Market 0.13% 4,745 $269K No change
WMT Walmart Inc. 0.13% 2,142 $266K No change
DGRO iShares Core Dividend Growth 0.13% 3,685 $259K Reduce -6.2%
HDV iShares Core High Dividend E 0.13% 1,897 $257K Reduce -25.1%
SPYV SS SPDR P S&P 500 Value ETF 0.13% 4,484 $254K No change
BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS 0.13% 6,993 $250K New
NVDA Nvidia Corp. 0.12% 1,430 $249K New
JPM JPMorgan Chase & Co. 0.12% 828 $244K No change
COR Cencora Inc. 0.12% 733 $230K Reduce -99.0%
GLTR Abrdn Precious Metals Basket 0.11% 1,044 $228K No change
ICF iShares Select U.S. REIT ETF 0.11% 3,652 $226K Add +1.1%
EVSD Eaton Vance SHRT Dur Inc. 0.11% 4,364 $222K No change
SCZ iShares MSCI Eafe Small-Cap 0.11% 2,770 $217K No change
ANGL Vaneck Fallen Angel High YLD 0.11% 7,472 $215K New
C Citigroup Inc. 0.11% 1,863 $211K No change
TSLA Tesla Inc. 0.10% 552 $205K No change
MDYV SS SPDR S&P 400 MC Val ETF 0.10% 2,403 $205K No change

Portfolio Sells Q4 2025 → Q1 2026
PFFD Global X US Preferred ETF Reduce -85.3% 0.20% −1.26
COR Cencora Inc. Reduce -99.0% 0.12% −0.70
VONE Vanguard Russell 1000 Reduce -1.6% 3.26% −0.33
MSFT Microsoft Corp. Reduce -1.3% 0.46% −0.11
SPYM Ste STR SPDR PT S&P 500 ETF Sold out 0.00% −0.10
NBTB N B T Bancorp Inc. Reduce -8.5% 0.38% −0.07
VEA Vanguard Ftse Developed ETF Reduce -0.0% 1.44% −0.06
VTEB Vanguard Tax-Exempt Bond ETF Reduce -1.2% 0.89% −0.05
HDV iShares Core High Dividend E Reduce -25.1% 0.13% −0.04
TIP iShares Tips Bond ETF Reduce -1.1% 0.63% −0.02
DFIC Dimensional International Co. Reduce -0.4% 0.57% −0.02
XHLF Bondbloxx BBG 6 MTH US Treas Reduce -0.4% 0.47% −0.01
DGRO iShares Core Dividend Growth Reduce -6.2% 0.13% −0.01
DFIP Dimensional Inflation-Protec Reduce -0.0% 0.21% −0.01
XOM Exxon Mobil Corp. Reduce -0.6% 0.16% +0.03
COMT iShares Gsci Commodity Dynam Reduce -4.2% 1.25% +0.21

Portfolio Buys Q4 2025 → Q1 2026
FPE FT-Preferred Secur & Inc. ETF New 1.90% +1.90
DFCF Dimensional Core Fixed Inc. Add +7.9% 10.06% +0.41
DFAU Dimensional US Core Equity M Add +8.8% 21.13% +0.20
BCD Abrdn Bloomberg All Commodit New 0.13% +0.13
NVDA Nvidia Corp. New 0.12% +0.12
DFAI Dimensional International Co. Add +5.5% 7.97% +0.12
ANGL Vaneck Fallen Angel High YLD New 0.11% +0.11
GIGB Goldman Sachs Inv GRD Corp. Add +28.7% 0.52% +0.10
BND Vanguard Total Bond Market Add +5.8% 4.30% +0.10
DFNM Dimensional National Muni BD Add +9.9% 1.38% +0.08
DCOR Dimensional US Core Eq 1 ETF Add +14.7% 1.09% +0.07
SCHD Schwab US DVD Equity ETF Add +1.9% 1.14% +0.05
SPIP SS SPDR P Tips ETF Add +6.0% 1.49% +0.05
DFGX Dimsnl Intr CF in ETF-Usd Inc. Add +5.1% 1.61% +0.03
PZT Invesco New York Amt-Free Mu Add +6.5% 0.81% +0.03
SCHZ Schwab US Aggregate Bond ETF Add +16.3% 0.20% +0.02
DFAR Dimensional US Real Est ETF Add +4.3% 1.13% +0.02
IAGG iShares Intl Aggregate Bond Add +6.4% 0.50% +0.02
SPHY SS SPDR P High Yield ETF Add +7.9% 0.56% +0.02
VTI VG Morningstar TS MKT ETF-US Add +14.8% 0.28% +0.02
META Meta Platforms Inc. Class A Add +21.8% 0.16% +0.02
SSGA ACTIVE TR Add +7.3% 0.70% +0.01
VYMI Vanguard Int High DVD YLD Inc. Add +1.5% 2.46% +0.01
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +4.6% 1.91% +0.01
ADI Analog Devices Inc. Add +0.1% 0.17% +0.00
VWO Vanguard Ftse Emerging Marke Add +7.5% 0.29% +0.00
VOE Vngrd Mrngstr MD-Cap Val ETF Add +4.5% 0.21% +0.00
ICF iShares Select U.S. REIT ETF Add +1.1% 0.11% −0.00
AGG iShares Core U.S. Aggregate Add +1.7% 0.18% −0.00
JEPI JPMorgan Equity Premium Inco Add +4.8% 1.11% −0.01
XYLD Global X S&P 500 Cove Call E Add +2.3% 0.23% −0.01
VWOB Vanguard Emerg MKTS Gov BND Add +2.3% 0.35% −0.01
DFAE Dimensional Emerging Core Eq Add +4.2% 3.14% −0.01
MUB iShares National Muni Bond E Add +1.2% 0.52% −0.01
MTB M & T Bank Corp. Add +0.1% 0.16% −0.01
VTWV Vanguard Russell 2000 Value Add +0.2% 0.21% −0.01
QYLD Global X Nasd 100 Cov Call Add +4.5% 1.28% −0.01
AMZN Amazon.com Inc. Add +6.4% 0.20% −0.01
VIG Vanguard Dividend Apprec ETF Add +5.0% 1.01% −0.02
HD Home Depot Inc. Add +6.0% 0.16% −0.02
BNDX Vanguard Total Intl Bond ETF Add +1.9% 1.78% −0.03
NYF iShares New York Muni Bond E Add +1.8% 2.56% −0.05
VNQ Vanguard Real Estate ETF Add +3.1% 2.71% −0.07
GOOG Alphabet Inc. Class C Add +0.3% 0.91% −0.16
DFAC Dimensional US Core Equity 2 Add +1.5% 4.86% −0.27

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