FELL CAPITAL MANAGEMENT /ADV Diversified Active

Name: FELL CAPITAL MANAGEMENT /ADV Q3 2026 13F Filing | 13F Explorer
Creator: FELL CAPITAL MANAGEMENT /ADV
Published: 2026-10-09

Location: Newport Beach, CA

CIK: 0000850601 · Show all filings

Period: Q3 2026 (← Previous)

Filing Date: Oct 9, 2026

Total Value: $116M (100.0% shares, 0.0% debt)

Holdings (94)

New Positions (4)

XOM EXXONMOBIL HOLDINGS CORP 1.5%

Value $1.763M Shares 10,830 Share Price $162.75 Est. Cost/Share $162.75 Unrealized @ Report Date —

CRWD CROWDSTRIKE HLDGS INC 0.2%

Value $235K Shares 888 Share Price $264.75 Est. Cost/Share $212.27 Unrealized @ Report Date +24.7%

GBTC GRAYSCALE BITCOIN TRUST ETF 0.2%

Value $219K Shares 3,390 Share Price $64.59 Est. Cost/Share $55.10 Unrealized @ Report Date +17.2%

CIBR FIRST TR EXCHANGE-TRADED FD 0.2%

Value $215K Shares 2,090 Share Price $103.09 Est. Cost/Share $95.78 Unrealized @ Report Date +7.6%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXONMOBIL HOLDINGS CORP	10,830	$1.763M	1.5%	$162.75	$162.75	—	COM SHS	30233Q108
CRWD	CROWDSTRIKE HLDGS INC	888	$235K	0.2%	$264.75	$212.27	+24.7%	CL A	22788C105
GBTC	GRAYSCALE BITCOIN TRUST ETF	3,390	$219K	0.2%	$64.59	$55.10	+17.2%	SHS REP COM UT	389637109
CIBR	FIRST TR EXCHANGE-TRADED FD	2,090	$215K	0.2%	$103.09	$95.78	+7.6%	NASDAQ CYB ETF	33734X846

Increased Positions (9)

FBND FIDELITY MERRIMACK STR TR 3.9%

Value $4.501M (+15.1%) Shares 103,942 (+20.9%) Share Price $43.30 Est. Cost/Share $45.66 Unrealized @ Report Date -5.2%

IWO ISHARES TR 4.6%

Value $5.324M (-8.0%) Shares 14,917 (+1.5%) Share Price $356.90 Est. Cost/Share $328.16 Unrealized @ Report Date +8.8%

SPAB SPDR SERIES TRUST 0.7%

Value $854K (+117.4%) Shares 35,042 (+127.8%) Share Price $24.36 Est. Cost/Share $25.41 Unrealized @ Report Date -4.1%

SDY SPDR SERIES TRUST 3.8%

Value $4.426M (-2.1%) Shares 30,218 (+1.7%) Share Price $146.48 Est. Cost/Share $141.25 Unrealized @ Report Date +3.7%

SPYG SPDR SERIES TRUST 1.8%

Value $2.147M (+4.6%) Shares 17,445 (+1.1%) Share Price $123.08 Est. Cost/Share $106.00 Unrealized @ Report Date +16.1%

SGOV ISHARES TR 0.6%

Value $729K (+11.5%) Shares 7,245 (+11.5%) Share Price $100.68 Est. Cost/Share $100.50 Unrealized @ Report Date +0.2%

SPYV SPDR SERIES TRUST 2.4%

Value $2.81M (+1.8%) Shares 45,967 (+1.2%) Share Price $61.13 Est. Cost/Share $57.30 Unrealized @ Report Date +6.7%

SPDW SPDR INDEX SHS FDS 0.6%

Value $687K (+4.5%) Shares 13,679 (+4.8%) Share Price $50.21 Est. Cost/Share $45.11 Unrealized @ Report Date +11.3%

VTI VANGUARD INDEX FDS 0.3%

Value $335K (+5.9%) Shares 896 (+4.7%) Share Price $374.24 Est. Cost/Share $334.73 Unrealized @ Report Date +11.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FBND	FIDELITY MERRIMACK STR TR	103,942 (+20.9%)	$4.501M (+15.1%)	3.9%	$43.30	$45.66	-5.2%	TOTAL BD ETF	316188309
IWO	ISHARES TR	14,917 (+1.5%)	$5.324M (-8.0%)	4.6%	$356.90	$328.16	+8.8%	RUS 2000 GRW ETF	464287648
SPAB	SPDR SERIES TRUST	35,042 (+127.8%)	$854K (+117.4%)	0.7%	$24.36	$25.41	-4.1%	ST STR AGGRE ETF	78464A649
SDY	SPDR SERIES TRUST	30,218 (+1.7%)	$4.426M (-2.1%)	3.8%	$146.48	$141.25	+3.7%	ST STR SP DIV	78464A763
SPYG	SPDR SERIES TRUST	17,445 (+1.1%)	$2.147M (+4.6%)	1.8%	$123.08	$106.00	+16.1%	ST STR P500GRW	78464A409
SGOV	ISHARES TR	7,245 (+11.5%)	$729K (+11.5%)	0.6%	$100.68	$100.50	+0.2%	0-3 MTH TREASURY	46436E718
SPYV	SPDR SERIES TRUST	45,967 (+1.2%)	$2.81M (+1.8%)	2.4%	$61.13	$57.30	+6.7%	ST STR P500VAL	78464A508
SPDW	SPDR INDEX SHS FDS	13,679 (+4.8%)	$687K (+4.5%)	0.6%	$50.21	$45.11	+11.3%	ST STR PO EX ETF	78463X889
VTI	VANGUARD INDEX FDS	896 (+4.7%)	$335K (+5.9%)	0.3%	$374.24	$334.73	+11.8%	MRNGSTR TTL STK	922908769

Exited Positions (6)

XOM EXXON MOBIL CORP 1.3%

Value $1.498M Shares 10,955 Share Price $136.72 * Est. Cost/Share $115.49 Unrealized @ Report Date +40.9%

VBK VANGUARD INDEX FDS 0.2%

Value $240K Shares 657 Share Price $365.70 * Est. Cost/Share $340.62 Unrealized @ Report Date -0.8%

VGT VANGUARD WORLD FD 0.2%

Value $226K Shares 1,888 Share Price $119.52 * Est. Cost/Share $109.49 Unrealized @ Report Date +14.8%

FDXF FEDEX FGHT HLDG CO INC 0.2%

Value $215K Shares 1,423 Share Price $151.00 * Est. Cost/Share $163.79 Unrealized @ Report Date -33.2%

URI UNITED RENTALS INC 0.2%

Value $204K Shares 180 Share Price $1132.89 * Est. Cost/Share $951.39 Unrealized @ Report Date +5.2%

XEL XCEL ENERGY INC 0.2%

Value $201K Shares 2,500 Share Price $80.30 * Est. Cost/Share $79.82 Unrealized @ Report Date -11.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXON MOBIL CORP	10,955	$1.498M	1.3%	$136.72 *	$115.49	+40.9%	—	30231G102
VBK	VANGUARD INDEX FDS	657	$240K	0.2%	$365.70 *	$340.62	-0.8%	—	922908595
VGT	VANGUARD WORLD FD	1,888	$226K	0.2%	$119.52 *	$109.49	+14.8%	—	92204A702
FDXF	FEDEX FGHT HLDG CO INC	1,423	$215K	0.2%	$151.00 *	$163.79	-33.2%	—	314352105
URI	UNITED RENTALS INC	180	$204K	0.2%	$1132.89 *	$951.39	+5.2%	—	911363109
XEL	XCEL ENERGY INC	2,500	$201K	0.2%	$80.30 *	$79.82	-11.7%	—	98389B100

Decreased Positions (45)

GOOG ALPHABET INC 3.8%

Value $4.414M (-11.3%) Shares 12,953 (-8.0%) Share Price $340.74 Est. Cost/Share $286.33 Unrealized @ Report Date +19.0%

MSFT MICROSOFT CORP 2.3%

Value $2.661M (+21.3%) Shares 5,188 (-11.8%) Share Price $512.90 Est. Cost/Share $500.58 Unrealized @ Report Date +2.5%

AAPL APPLE INC 5.5%

Value $6.433M (+7.1%) Shares 19,317 (-7.0%) Share Price $333.02 Est. Cost/Share $268.34 Unrealized @ Report Date +24.1%

GS GOLDMAN SACHS GROUP INC 1.3%

Value $1.532M (-18.0%) Shares 1,702 (-7.9%) Share Price $900.36 Est. Cost/Share $813.35 Unrealized @ Report Date +10.7%

AMAT APPLIED MATLS INC 0.3%

Value $399K (-44.8%) Shares 780 (-22.0%) Share Price $511.38 Est. Cost/Share $239.49 Unrealized @ Report Date +113.5%

SLYV SPDR SERIES TRUST 2.3%

Value $2.678M (-10.7%) Shares 26,212 (-4.7%) Share Price $102.15 Est. Cost/Share $91.86 Unrealized @ Report Date +11.2%

BITB BITWISE BITCOIN ETF TR 0.8%

Value $915K (+40.1%) Shares 20,170 (-1.6%) Share Price $45.36 Est. Cost/Share $54.41 Unrealized @ Report Date -16.6%

CVX CHEVRON CORPORATION 1.4%

Value $1.579M (+19.9%) Shares 7,734 (-2.7%) Share Price $204.21 Est. Cost/Share $151.40 Unrealized @ Report Date +34.9%

SLYG SPDR SERIES TRUST 1.7%

Value $1.965M (-11.7%) Shares 18,373 (-1.6%) Share Price $106.97 Est. Cost/Share $95.66 Unrealized @ Report Date +11.8%

HD HOME DEPOT INC 0.7%

Value $830K (-20.7%) Shares 2,917 (-1.7%) Share Price $284.49 Est. Cost/Share $364.59 Unrealized @ Report Date -22.0%

VAW VANGUARD WORLD FD 2.1%

Value $2.437M (-7.3%) Shares 11,170 (-2.8%) Share Price $218.17 Est. Cost/Share $201.59 Unrealized @ Report Date +8.2%

NVDA NVIDIA CORPORATION 1.6%

Value $1.887M (+10.6%) Shares 8,261 (-3.1%) Share Price $228.38 Est. Cost/Share $186.07 Unrealized @ Report Date +22.7%

GE GE AEROSPACE 0.6%

Value $742K (-18.2%) Shares 2,375 (-2.1%) Share Price $312.29 Est. Cost/Share $300.80 Unrealized @ Report Date +3.8%

HONA HONEYWELL AEROSPACE INC 0.2%

Value $258K (-35.7%) Shares 1,667 (-8.2%) Share Price $154.97 Est. Cost/Share $240.18 Unrealized @ Report Date -35.5%

REMX VANECK ETF TRUST 0.2%

Value $280K (-29.0%) Shares 4,360 (-2.2%) Share Price $64.26 Est. Cost/Share $71.71 Unrealized @ Report Date -10.4%

BA BOEING CO 0.4%

Value $500K (-17.9%) Shares 2,690 (-4.4%) Share Price $186.05 Est. Cost/Share $205.66 Unrealized @ Report Date -9.5%

SBUX STARBUCKS CORP 0.6%

Value $745K (-12.5%) Shares 7,925 (-4.8%) Share Price $93.96 Est. Cost/Share $84.06 Unrealized @ Report Date +11.8%

ORCL ORACLE CORP 0.6%

Value $661K (-12.2%) Shares 4,816 (-6.3%) Share Price $137.30 Est. Cost/Share $238.05 Unrealized @ Report Date -42.3%

— BLACKROCK CR ALLOCATION 0.6%

Value $728K (-11.2%) Shares 78,200 (-2.5%) Share Price $9.31 Est. Cost/Share $10.83 Unrealized @ Report Date —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.5%

Value $551K (-14.2%) Shares 1,207 (-10.2%) Share Price $456.19 Est. Cost/Share $296.40 Unrealized @ Report Date +53.9%

CSCO CISCO SYS INC 0.7%

Value $867K (-9.5%) Shares 8,058 (-1.2%) Share Price $107.63 Est. Cost/Share $73.79 Unrealized @ Report Date +45.9%

QQQ INVESCO QQQ TR 1.2%

Value $1.375M (-6.2%) Shares 1,859 (-6.6%) Share Price $739.77 Est. Cost/Share $613.42 Unrealized @ Report Date +20.6%

FCX FREEPORT MCMORAN INC 0.8%

Value $978K (+9.7%) Shares 13,975 (-1.4%) Share Price $70.00 Est. Cost/Share $43.31 Unrealized @ Report Date +61.6%

MCK MCKESSON CORP 0.8%

Value $961K (+9.6%) Shares 1,125 (-3.0%) Share Price $853.81 Est. Cost/Share $815.57 Unrealized @ Report Date +4.7%

HYG ISHARES TR 1.3%

Value $1.539M (-5.1%) Shares 19,932 (-1.7%) Share Price $77.21 Est. Cost/Share $80.60 Unrealized @ Report Date -4.2%

KMI KINDER MORGAN INC DEL 0.8%

Value $901K (-7.2%) Shares 29,900 (-1.6%) Share Price $30.15 Est. Cost/Share $26.91 Unrealized @ Report Date +12.1%

AIQ GLOBAL X FDS 0.7%

Value $769K (-8.2%) Shares 11,807 (-7.6%) Share Price $65.16 Est. Cost/Share $50.79 Unrealized @ Report Date +28.3%

META META PLATFORMS INC 0.3%

Value $368K (+19.1%) Shares 507 (-7.5%) Share Price $725.18 Est. Cost/Share $665.34 Unrealized @ Report Date +9.0%

XLV SELECT SECTOR SPDR TR 1.2%

Value $1.379M (+4.2%) Shares 8,185 (-1.8%) Share Price $168.42 Est. Cost/Share $149.77 Unrealized @ Report Date +12.5%

XBI SPDR SERIES TRUST 0.8%

Value $911K (-5.3%) Shares 5,775 (-4.9%) Share Price $157.68 Est. Cost/Share $114.66 Unrealized @ Report Date +37.5%

HON HONEYWELL INTL INC 0.3%

Value $359K (-11.6%) Shares 1,704 (-6.2%) Share Price $210.94 Est. Cost/Share $223.90 Unrealized @ Report Date —

AMZN AMAZON COM INC 2.1%

Value $2.45M (-1.9%) Shares 9,834 (-6.1%) Share Price $249.15 Est. Cost/Share $228.79 Unrealized @ Report Date +8.9%

ITW ILLINOIS TOOL WKS INC 0.5%

Value $554K (-7.0%) Shares 2,155 (-2.3%) Share Price $257.28 Est. Cost/Share $247.57 Unrealized @ Report Date +3.9%

JPM JPMORGAN CHASE & CO 1.5%

Value $1.735M (-2.2%) Shares 5,245 (-3.2%) Share Price $330.83 Est. Cost/Share $309.53 Unrealized @ Report Date +6.9%

CMCSA COMCAST CORP NEW 0.2%

Value $228K (-14.2%) Shares 10,472 (-3.2%) Share Price $21.76 Est. Cost/Share $28.53 Unrealized @ Report Date -23.7%

JNJ JOHNSON & JOHNSON 1.0%

Value $1.156M (+3.1%) Shares 4,367 (-1.1%) Share Price $264.74 Est. Cost/Share $197.01 Unrealized @ Report Date +34.4%

NFLX NETFLIX INC. 0.4%

Value $419K (-7.5%) Shares 6,025 (-5.1%) Share Price $69.58 Est. Cost/Share $107.81 Unrealized @ Report Date -35.5%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.1%

Value $1.306M (-2.3%) Shares 2,622 (-1.9%) Share Price $497.95 Est. Cost/Share $497.53 Unrealized @ Report Date +0.1%

VZ VERIZON COMMUNICATIONS INC 0.8%

Value $885K (+3.5%) Shares 19,285 (-4.5%) Share Price $45.87 Est. Cost/Share $40.48 Unrealized @ Report Date +13.3%

SPY STATE STR SPDR S&P 500 ETF T 5.1%

Value $5.909M (-0.5%) Shares 7,748 (-2.6%) Share Price $762.63 Est. Cost/Share $675.88 Unrealized @ Report Date +12.8%

VBR VANGUARD INDEX FDS 0.3%

Value $292K (-8.5%) Shares 1,264 (-3.8%) Share Price $231.03 Est. Cost/Share $211.25 Unrealized @ Report Date +9.4%

GLD SPDR GOLD TR 1.6%

Value $1.91M (+1.4%) Shares 5,015 (-2.0%) Share Price $380.84 Est. Cost/Share $381.90 Unrealized @ Report Date -0.3%

TBIL RBB FD INC 0.6%

Value $728K (-1.7%) Shares 14,600 (-1.7%) Share Price $49.85 Est. Cost/Share $49.94 Unrealized @ Report Date -0.2%

DIS DISNEY WALT CO 0.5%

Value $581K (+2.1%) Shares 5,537 (-6.3%) Share Price $104.90 Est. Cost/Share $109.53 Unrealized @ Report Date -4.2%

ETN EATON CORP PLC 0.2%

Value $245K (-1.7%) Shares 570 (-2.6%) Share Price $429.71 Est. Cost/Share $354.39 Unrealized @ Report Date +21.3%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GOOG	ALPHABET INC	12,953 (-8.0%)	$4.414M (-11.3%)	3.8%	$340.74	$286.33	+19.0%	CAP STK CL C	02079K107
MSFT	MICROSOFT CORP	5,188 (-11.8%)	$2.661M (+21.3%)	2.3%	$512.90	$500.58	+2.5%	COM	594918104
AAPL	APPLE INC	19,317 (-7.0%)	$6.433M (+7.1%)	5.5%	$333.02	$268.34	+24.1%	COM	037833100
GS	GOLDMAN SACHS GROUP INC	1,702 (-7.9%)	$1.532M (-18.0%)	1.3%	$900.36	$813.35	+10.7%	COM	38141G104
AMAT	APPLIED MATLS INC	780 (-22.0%)	$399K (-44.8%)	0.3%	$511.38	$239.49	+113.5%	COM	038222105
SLYV	SPDR SERIES TRUST	26,212 (-4.7%)	$2.678M (-10.7%)	2.3%	$102.15	$91.86	+11.2%	ST STR SP600SM C	78464A300
BITB	BITWISE BITCOIN ETF TR	20,170 (-1.6%)	$915K (+40.1%)	0.8%	$45.36	$54.41	-16.6%	SHS BEN INT	09174C104
CVX	CHEVRON CORPORATION	7,734 (-2.7%)	$1.579M (+19.9%)	1.4%	$204.21	$151.40	+34.9%	COM	166764100
SLYG	SPDR SERIES TRUST	18,373 (-1.6%)	$1.965M (-11.7%)	1.7%	$106.97	$95.66	+11.8%	ST STR SP600GRWO	78464A201
HD	HOME DEPOT INC	2,917 (-1.7%)	$830K (-20.7%)	0.7%	$284.49	$364.59	-22.0%	COM	437076102
VAW	VANGUARD WORLD FD	11,170 (-2.8%)	$2.437M (-7.3%)	2.1%	$218.17	$201.59	+8.2%	MATERIALS ETF	92204A801
NVDA	NVIDIA CORPORATION	8,261 (-3.1%)	$1.887M (+10.6%)	1.6%	$228.38	$186.07	+22.7%	COM	67066G104
GE	GE AEROSPACE	2,375 (-2.1%)	$742K (-18.2%)	0.6%	$312.29	$300.80	+3.8%	COM NEW	369604301
HONA	HONEYWELL AEROSPACE INC	1,667 (-8.2%)	$258K (-35.7%)	0.2%	$154.97	$240.18	-35.5%	COM	43849R105
REMX	VANECK ETF TRUST	4,360 (-2.2%)	$280K (-29.0%)	0.2%	$64.26	$71.71	-10.4%	RARE EAR STR ETF	92189H805
BA	BOEING CO	2,690 (-4.4%)	$500K (-17.9%)	0.4%	$186.05	$205.66	-9.5%	COM	097023105
SBUX	STARBUCKS CORP	7,925 (-4.8%)	$745K (-12.5%)	0.6%	$93.96	$84.06	+11.8%	COM	855244109
ORCL	ORACLE CORP	4,816 (-6.3%)	$661K (-12.2%)	0.6%	$137.30	$238.05	-42.3%	COM	68389X105
—	BLACKROCK CR ALLOCATION	78,200 (-2.5%)	$728K (-11.2%)	0.6%	$9.31	$10.83	—	COM	092508100
TSM	TAIWAN SEMICONDUCTOR MANUFAC	1,207 (-10.2%)	$551K (-14.2%)	0.5%	$456.19	$296.40	+53.9%	SPONSORED ADS	874039100
CSCO	CISCO SYS INC	8,058 (-1.2%)	$867K (-9.5%)	0.7%	$107.63	$73.79	+45.9%	COM	17275R102
QQQ	INVESCO QQQ TR	1,859 (-6.6%)	$1.375M (-6.2%)	1.2%	$739.77	$613.42	+20.6%	UNIT SER 1	46090E103
FCX	FREEPORT MCMORAN INC	13,975 (-1.4%)	$978K (+9.7%)	0.8%	$70.00	$43.31	+61.6%	CL B	35671D857
MCK	MCKESSON CORP	1,125 (-3.0%)	$961K (+9.6%)	0.8%	$853.81	$815.57	+4.7%	COM	58155Q103
HYG	ISHARES TR	19,932 (-1.7%)	$1.539M (-5.1%)	1.3%	$77.21	$80.60	-4.2%	IBOXX HI YD ETF	464288513
KMI	KINDER MORGAN INC DEL	29,900 (-1.6%)	$901K (-7.2%)	0.8%	$30.15	$26.91	+12.1%	COM	49456B101
AIQ	GLOBAL X FDS	11,807 (-7.6%)	$769K (-8.2%)	0.7%	$65.16	$50.79	+28.3%	ARTIFICIAL ETF	37954Y632
META	META PLATFORMS INC	507 (-7.5%)	$368K (+19.1%)	0.3%	$725.18	$665.34	+9.0%	CL A	30303M102
XLV	SELECT SECTOR SPDR TR	8,185 (-1.8%)	$1.379M (+4.2%)	1.2%	$168.42	$149.77	+12.5%	ST STR CARE ETF	81369Y209
XBI	SPDR SERIES TRUST	5,775 (-4.9%)	$911K (-5.3%)	0.8%	$157.68	$114.66	+37.5%	ST STR SP BIOT	78464A870
HON	HONEYWELL INTL INC	1,704 (-6.2%)	$359K (-11.6%)	0.3%	$210.94	$223.90	—	COM	438516205
AMZN	AMAZON COM INC	9,834 (-6.1%)	$2.45M (-1.9%)	2.1%	$249.15	$228.79	+8.9%	COM	023135106
ITW	ILLINOIS TOOL WKS INC	2,155 (-2.3%)	$554K (-7.0%)	0.5%	$257.28	$247.57	+3.9%	COM	452308109
JPM	JPMORGAN CHASE & CO	5,245 (-3.2%)	$1.735M (-2.2%)	1.5%	$330.83	$309.53	+6.9%	COM	46625H100
CMCSA	COMCAST CORP NEW	10,472 (-3.2%)	$228K (-14.2%)	0.2%	$21.76	$28.53	-23.7%	CL A	20030N101
JNJ	JOHNSON & JOHNSON	4,367 (-1.1%)	$1.156M (+3.1%)	1.0%	$264.74	$197.01	+34.4%	COM	478160104
NFLX	NETFLIX INC.	6,025 (-5.1%)	$419K (-7.5%)	0.4%	$69.58	$107.81	-35.5%	COM	64110L106
BRK/B	BERKSHIRE HATHAWAY INC DEL	2,622 (-1.9%)	$1.306M (-2.3%)	1.1%	$497.95	$497.53	+0.1%	CL B NEW	084670702
VZ	VERIZON COMMUNICATIONS INC	19,285 (-4.5%)	$885K (+3.5%)	0.8%	$45.87	$40.48	+13.3%	COM	92343V104
SPY	STATE STR SPDR S&P 500 ETF T	7,748 (-2.6%)	$5.909M (-0.5%)	5.1%	$762.63	$675.88	+12.8%	TR UNIT	78462F103
VBR	VANGUARD INDEX FDS	1,264 (-3.8%)	$292K (-8.5%)	0.3%	$231.03	$211.25	+9.4%	MRNGSTR SML CP V	922908611
GLD	SPDR GOLD TR	5,015 (-2.0%)	$1.91M (+1.4%)	1.6%	$380.84	$381.90	-0.3%	GOLD SHS	78463V107
TBIL	RBB FD INC	14,600 (-1.7%)	$728K (-1.7%)	0.6%	$49.85	$49.94	-0.2%	F/M US TREASURY	74933W452
DIS	DISNEY WALT CO	5,537 (-6.3%)	$581K (+2.1%)	0.5%	$104.90	$109.53	-4.2%	COM	254687106
ETN	EATON CORP PLC	570 (-2.6%)	$245K (-1.7%)	0.2%	$429.71	$354.39	+21.3%	SHS	G29183103

Unchanged Positions (36)

IWN ISHARES TR 4.9%

Value $5.743M Shares 27,420 Share Price $209.45 Est. Cost/Share $183.91 Unrealized @ Report Date +13.9%

AMGN AMGEN INC 1.5%

Value $1.703M Shares 4,040 Share Price $421.51 Est. Cost/Share $315.95 Unrealized @ Report Date +33.4%

IJH ISHARES TR 1.2%

Value $1.382M Shares 19,205 Share Price $71.95 Est. Cost/Share $65.51 Unrealized @ Report Date +9.8%

SPMD SPDR SERIES TRUST 1.0%

Value $1.202M Shares 19,065 Share Price $63.04 Est. Cost/Share $58.31 Unrealized @ Report Date +8.1%

GEV GE VERNOVA INC 0.3%

Value $397K Shares 418 Share Price $950.49 Est. Cost/Share $609.04 Unrealized @ Report Date +56.1%

FDX FEDEX CORP 0.7%

Value $814K Shares 2,855 Share Price $285.09 Est. Cost/Share $261.56 Unrealized @ Report Date +9.0%

PFF ISHARES TR 1.5%

Value $1.781M Shares 60,384 Share Price $29.50 Est. Cost/Share $31.14 Unrealized @ Report Date -5.3%

AXP AMERICAN EXPRESS CO 0.6%

Value $666K Shares 2,190 Share Price $304.10 Est. Cost/Share $356.97 Unrealized @ Report Date -14.8%

MRK MERCK & CO INC 0.5%

Value $612K Shares 4,215 Share Price $145.31 Est. Cost/Share $93.24 Unrealized @ Report Date +55.8%

UNH UNITEDHEALTH GROUP INC 0.5%

Value $535K Shares 1,458 Share Price $367.08 Est. Cost/Share $337.21 Unrealized @ Report Date +8.9%

CVS CVS HEALTH CORP 0.3%

Value $334K Shares 3,900 Share Price $85.69 Est. Cost/Share $78.67 Unrealized @ Report Date +8.9%

VO VANGUARD INDEX FDS 2.2%

Value $2.52M Shares 32,136 Share Price $78.42 Est. Cost/Share $76.33 Unrealized @ Report Date +2.7%

GOOGL ALPHABET INC 1.5%

Value $1.696M Shares 4,930 Share Price $344.08 Est. Cost/Share $285.60 Unrealized @ Report Date +20.5%

IWM ISHARES TR 0.7%

Value $791K Shares 2,845 Share Price $277.89 Est. Cost/Share $245.85 Unrealized @ Report Date +13.0%

— PIMCO CORPORATE & INCOME OPP 0.5%

Value $613K Shares 55,650 Share Price $11.01 Est. Cost/Share $12.90 Unrealized @ Report Date —

MCD MCDONALDS CORP 0.3%

Value $341K Shares 1,475 Share Price $230.94 Est. Cost/Share $305.09 Unrealized @ Report Date -24.3%

MS MORGAN STANLEY 0.4%

Value $502K Shares 2,670 Share Price $188.08 Est. Cost/Share $166.47 Unrealized @ Report Date +13.0%

TIP ISHARES TR 0.8%

Value $928K Shares 8,920 Share Price $104.04 Est. Cost/Share $110.92 Unrealized @ Report Date -6.2%

TGT TARGET CORP 0.2%

Value $262K Shares 1,675 Share Price $156.69 Est. Cost/Share $112.32 Unrealized @ Report Date +39.5%

V VISA INC 0.7%

Value $823K Shares 2,289 Share Price $359.33 Est. Cost/Share $340.38 Unrealized @ Report Date +5.6%

VWO VANGUARD INTL EQUITY INDEX F 2.0%

Value $2.302M Shares 38,806 Share Price $59.31 Est. Cost/Share $54.32 Unrealized @ Report Date +9.2%

MO ALTRIA GROUP INC 0.5%

Value $542K Shares 8,050 Share Price $67.34 Est. Cost/Share $59.36 Unrealized @ Report Date +13.4%

AVGO BROADCOM INC 0.2%

Value $289K Shares 822 Share Price $351.19 Est. Cost/Share $357.00 Unrealized @ Report Date -1.6%

J JACOBS SOLUTIONS INC 0.2%

Value $258K Shares 1,905 Share Price $135.27 Est. Cost/Share $146.41 Unrealized @ Report Date -7.6%

RTX RTX CORPORATION 0.5%

Value $580K Shares 3,125 Share Price $185.65 Est. Cost/Share $173.32 Unrealized @ Report Date +7.1%

SCHW CHARLES SCHWAB CORP (THE) 0.2%

Value $220K Shares 2,250 Share Price $97.74 Est. Cost/Share $94.74 Unrealized @ Report Date +3.2%

WELL WELLTOWER INC 0.3%

Value $391K Shares 1,700 Share Price $230.24 Est. Cost/Share $186.47 Unrealized @ Report Date —

VEA VANGUARD TAX-MANAGED FDS 0.5%

Value $528K Shares 7,483 Share Price $70.61 Est. Cost/Share $61.26 Unrealized @ Report Date +15.3%

SLV ISHARES SILVER TR 0.2%

Value $229K Shares 4,200 Share Price $54.51 Est. Cost/Share $50.06 Unrealized @ Report Date +8.9%

PG PROCTER & GAMBLE CO 0.3%

Value $350K Shares 2,411 Share Price $145.28 Est. Cost/Share $147.17 Unrealized @ Report Date -1.3%

UTWO RBB FD INC 0.2%

Value $245K Shares 5,175 Share Price $47.34 Est. Cost/Share $48.58 Unrealized @ Report Date -2.6%

SPEM SPDR INDEX SHS FDS 0.3%

Value $337K Shares 6,503 Share Price $51.76 Est. Cost/Share $48.13 Unrealized @ Report Date +7.5%

SCHE SCHWAB STRATEGIC TR 0.2%

Value $226K Shares 6,200 Share Price $36.45 Est. Cost/Share $33.35 Unrealized @ Report Date +9.3%

XLF SELECT SECTOR SPDR TR 0.2%

Value $268K Shares 5,025 Share Price $53.40 Est. Cost/Share $53.28 Unrealized @ Report Date +0.2%

UNP UNION PAC CORP 0.4%

Value $415K Shares 1,525 Share Price $272.13 Est. Cost/Share $227.32 Unrealized @ Report Date +19.7%

BK BANK OF NY MELLON CORP 0.2%

Value $235K Shares 1,625 Share Price $144.63 Est. Cost/Share $110.50 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
IWN	ISHARES TR	27,420	$5.743M	4.9%	$209.45	$183.91	+13.9%	RUS 2000 VAL ETF	464287630
AMGN	AMGEN INC	4,040	$1.703M	1.5%	$421.51	$315.95	+33.4%	COM	031162100
IJH	ISHARES TR	19,205	$1.382M	1.2%	$71.95	$65.51	+9.8%	CORE S&P MCP ETF	464287507
SPMD	SPDR SERIES TRUST	19,065	$1.202M	1.0%	$63.04	$58.31	+8.1%	ST STR P400MID	78464A847
GEV	GE VERNOVA INC	418	$397K	0.3%	$950.49	$609.04	+56.1%	COM	36828A101
FDX	FEDEX CORP	2,855	$814K	0.7%	$285.09	$261.56	+9.0%	COM	31428X106
PFF	ISHARES TR	60,384	$1.781M	1.5%	$29.50	$31.14	-5.3%	PFD AND INCM SEC	464288687
AXP	AMERICAN EXPRESS CO	2,190	$666K	0.6%	$304.10	$356.97	-14.8%	COM	025816109
MRK	MERCK & CO INC	4,215	$612K	0.5%	$145.31	$93.24	+55.8%	COM	58933Y105
UNH	UNITEDHEALTH GROUP INC	1,458	$535K	0.5%	$367.08	$337.21	+8.9%	COM	91324P102
CVS	CVS HEALTH CORP	3,900	$334K	0.3%	$85.69	$78.67	+8.9%	COM	126650100
VO	VANGUARD INDEX FDS	32,136	$2.52M	2.2%	$78.42	$76.33	+2.7%	MRNGSTR MID CAP	922908629
GOOGL	ALPHABET INC	4,930	$1.696M	1.5%	$344.08	$285.60	+20.5%	CAP STK CL A	02079K305
IWM	ISHARES TR	2,845	$791K	0.7%	$277.89	$245.85	+13.0%	RUSSELL 2000 ETF	464287655
—	PIMCO CORPORATE & INCOME OPP	55,650	$613K	0.5%	$11.01	$12.90	—	COM	72201B101
MCD	MCDONALDS CORP	1,475	$341K	0.3%	$230.94	$305.09	-24.3%	COM	580135101
MS	MORGAN STANLEY	2,670	$502K	0.4%	$188.08	$166.47	+13.0%	COM NEW	617446448
TIP	ISHARES TR	8,920	$928K	0.8%	$104.04	$110.92	-6.2%	TIPS BD ETF	464287176
TGT	TARGET CORP	1,675	$262K	0.2%	$156.69	$112.32	+39.5%	COM	87612E106
V	VISA INC	2,289	$823K	0.7%	$359.33	$340.38	+5.6%	COM CL A	92826C839
VWO	VANGUARD INTL EQUITY INDEX F	38,806	$2.302M	2.0%	$59.31	$54.32	+9.2%	FTSE EMR MKT ETF	922042858
MO	ALTRIA GROUP INC	8,050	$542K	0.5%	$67.34	$59.36	+13.4%	COM	02209S103
AVGO	BROADCOM INC	822	$289K	0.2%	$351.19	$357.00	-1.6%	COM	11135F101
J	JACOBS SOLUTIONS INC	1,905	$258K	0.2%	$135.27	$146.41	-7.6%	COM	46982L108
RTX	RTX CORPORATION	3,125	$580K	0.5%	$185.65	$173.32	+7.1%	COM	75513E101
SCHW	CHARLES SCHWAB CORP (THE)	2,250	$220K	0.2%	$97.74	$94.74	+3.2%	COM	808513105
WELL	WELLTOWER INC	1,700	$391K	0.3%	$230.24	$186.47	—	COM	95040Q104
VEA	VANGUARD TAX-MANAGED FDS	7,483	$528K	0.5%	$70.61	$61.26	+15.3%	VAN FTSE DEV MKT	921943858
SLV	ISHARES SILVER TR	4,200	$229K	0.2%	$54.51	$50.06	+8.9%	ISHARES	46428Q109
PG	PROCTER & GAMBLE CO	2,411	$350K	0.3%	$145.28	$147.17	-1.3%	COM	742718109
UTWO	RBB FD INC	5,175	$245K	0.2%	$47.34	$48.58	-2.6%	US TREASY 2 YR	74933W486
SPEM	SPDR INDEX SHS FDS	6,503	$337K	0.3%	$51.76	$48.13	+7.5%	ST PORT MARK ETF	78463X509
SCHE	SCHWAB STRATEGIC TR	6,200	$226K	0.2%	$36.45	$33.35	+9.3%	EMRG MKTEQ ETF	808524706
XLF	SELECT SECTOR SPDR TR	5,025	$268K	0.2%	$53.40	$53.28	+0.2%	ST STR FINL ETF	81369Y605
UNP	UNION PAC CORP	1,525	$415K	0.4%	$272.13	$227.32	+19.7%	COM	907818108
BK	BANK OF NY MELLON CORP	1,625	$235K	0.2%	$144.63	$110.50	—	COM	064058100