Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AIQ	GLOBAL X FDS	142,330	$9.338M	5.2%	$65.61	—	ARTIFICIAL ETF	37954Y632
QXO	QXO INC	136,380	$2.357M	1.3%	$17.28	—	COM NEW	82846H405
PFF	ISHARES TR	26,230	$800K	0.4%	$30.49	—	PFD AND INCM SEC	464288687
SOXX	ISHARES TR	545	$349K	0.2%	$640.77	—	ISHARES SEMICDTR	464287523
UCTT	ULTRA CLEAN HLDGS INC	2,389	$341K	0.2%	$142.59	—	COM	90385V107
CART	MAPLEBEAR INC	6,890	$326K	0.2%	$47.35	—	COM	565394103
VT	VANGUARD INTL EQUITY INDEX F	2,065	$324K	0.2%	$156.95	—	TT WRLD ST ETF	922042742
BELFB	BEL FUSE INC	958	$319K	0.2%	$333.04	—	CL B	077347300
ESI	ELEMENT SOLUTIONS INC	6,010	$287K	0.2%	$47.75	—	COM	28618M106
LGND	LIGAND PHARMACEUTICALS INC	882	$279K	0.2%	$316.09	—	COM NEW	53220K504
CHEF	CHEFS WHSE INC	2,802	$269K	0.2%	$96.10	—	COM	163086101
EXTR	EXTREME NETWORKS INC	8,213	$266K	0.1%	$32.37	—	COM	30226D106
FROG	JFROG LTD	2,919	$265K	0.1%	$90.88	—	ORD SHS	M6191J100
CAT	CATERPILLAR INC	248	$264K	0.1%	$1065.17	—	COM	149123101
BFH	BREAD FINANCIAL HOLDINGS INC	2,245	$243K	0.1%	$108.35	—	COM	018581108
FFIN	FIRST FINL BANKSHARES INC	6,752	$234K	0.1%	$34.60	—	COM	32020R109
ALIL	EA SERIES TRUST	6,800	$227K	0.1%	$33.32	—	ARGENT FOCUSED	02072Q754
ATLC	ATLANTICUS HOLDINGS CORP	2,115	$216K	0.1%	$102.25	—	COM	04914Y102
PRM	PERIMETER SOLUTIONS INC	6,007	$214K	0.1%	$35.65	—	COMMON STOCK	71385M107
SPCX	SPACE EXPLORATION TECHN CORP	1,235	$211K	0.1%	$170.86	—	CLASS A COM STK	84615Q103
LQDT	LIQUIDITY SVCS INC	5,368	$210K	0.1%	$39.12	—	COM	53635B107
WSFS	WSFS FINL CORP	2,667	$205K	0.1%	$76.73	—	COM	929328102
HRI	HERC HLDGS INC	1,410	$202K	0.1%	$143.34	—	COM	42704L104
FSS	FEDERAL SIGNAL CORP	1,572	$202K	0.1%	$128.49	—	COM	313855108
PUMP	PROPETRO HLDG CORP	11,050	$158K	0.1%	$14.34	—	COM	74347M108

Increased Positions (15)

IEFA ISHARES TR 8.4%

Value $15.03M (+285.3%) Shares 155,618 (+261.2%) Est. Cost $94.91 Unrealized —

IVV ISHARES TR 7.1%

Value $12.62M (+442.1%) Shares 16,853 (+372.9%) Est. Cost $700.04 Unrealized —

MAGS LISTED FDS TR 16.2%

Value $29.07M (+45.0%) Shares 452,160 (+30.6%) Est. Cost $64.73 Unrealized —

IWM ISHARES TR 3.4%

Value $6.082M (+230.1%) Shares 20,244 (+172.5%) Est. Cost $273.34 Unrealized —

EEM ISHARES TR 8.2%

Value $14.6M (+28.3%) Shares 213,388 (+6.5%) Est. Cost $45.48 Unrealized —

AMLP ALPS ETF TR 7.5%

Value $13.38M (+15.9%) Shares 258,127 (+17.6%) Est. Cost $47.32 Unrealized —

ICSH ISHARES TR 2.0%

Value $3.611M (+59.2%) Shares 71,397 (+59.4%) Est. Cost $50.49 Unrealized —

GLDM WORLD GOLD TR 1.0%

Value $1.716M (+86.0%) Shares 21,605 (+117.1%) Est. Cost $85.53 Unrealized —

AMZN AMAZON COM INC 0.8%

Value $1.431M (+39.1%) Shares 6,003 (+21.6%) Est. Cost $186.18 Unrealized —

AAPL APPLE INC 1.0%

Value $1.854M (+27.4%) Shares 6,408 (+11.7%) Est. Cost $175.85 Unrealized —

ACWX ISHARES TR 0.5%

Value $914K (+71.9%) Shares 12,005 (+54.6%) Est. Cost $70.78 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 0.4%

Value $699K (+95.9%) Shares 935 (+70.6%) Est. Cost $668.73 Unrealized —

GOOGL ALPHABET INC 0.4%

Value $658K (+27.7%) Shares 1,842 (+2.8%) Est. Cost $178.51 Unrealized —

NVDA NVIDIA CORPORATION 0.2%

Value $360K (+24.0%) Shares 1,799 (+8.0%) Est. Cost $137.95 Unrealized —

MSFT MICROSOFT CORP 0.2%

Value $389K (+5.4%) Shares 1,043 (+4.6%) Est. Cost $375.54 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IEFA	ISHARES TR	155,618 (+261.2%)	$15.03M (+285.3%)	8.4%	$94.91	—	CORE MSCI EAFE	46432F842
IVV	ISHARES TR	16,853 (+372.9%)	$12.62M (+442.1%)	7.1%	$700.04	—	CORE S&P500 ETF	464287200
MAGS	LISTED FDS TR	452,160 (+30.6%)	$29.07M (+45.0%)	16.2%	$64.73	—	ROUN MA SEVE ETF	53656G498
IWM	ISHARES TR	20,244 (+172.5%)	$6.082M (+230.1%)	3.4%	$273.34	—	RUSSELL 2000 ETF	464287655
EEM	ISHARES TR	213,388 (+6.5%)	$14.6M (+28.3%)	8.2%	$45.48	—	MSCI EMG MKT ETF	464287234
AMLP	ALPS ETF TR	258,127 (+17.6%)	$13.38M (+15.9%)	7.5%	$47.32	—	ALERIAN MLP	00162Q452
ICSH	ISHARES TR	71,397 (+59.4%)	$3.611M (+59.2%)	2.0%	$50.49	—	ULTRA SHORT DUR	46434V878
GLDM	WORLD GOLD TR	21,605 (+117.1%)	$1.716M (+86.0%)	1.0%	$85.53	—	SPDR GLD MINIS	98149E303
AMZN	AMAZON COM INC	6,003 (+21.6%)	$1.431M (+39.1%)	0.8%	$186.18	—	COM	023135106
AAPL	APPLE INC	6,408 (+11.7%)	$1.854M (+27.4%)	1.0%	$175.85	—	COM	037833100
ACWX	ISHARES TR	12,005 (+54.6%)	$914K (+71.9%)	0.5%	$70.78	—	MSCI ACWI EX US	464288240
SPY	STATE STR SPDR S&P 500 ETF T	935 (+70.6%)	$699K (+95.9%)	0.4%	$668.73	—	TR UNIT	78462F103
GOOGL	ALPHABET INC	1,842 (+2.8%)	$658K (+27.7%)	0.4%	$178.51	—	CAP STK CL A	02079K305
NVDA	NVIDIA CORPORATION	1,799 (+8.0%)	$360K (+24.0%)	0.2%	$137.95	—	COM	67066G104
MSFT	MICROSOFT CORP	1,043 (+4.6%)	$389K (+5.4%)	0.2%	$375.54	—	COM	594918104

Exited Positions (11)

ARCC ARES CAPITAL CORP 0.2%

Value $434K Shares 24,103 Est. Cost $19.88 Unrealized —

MUSA MURPHY USA INC 0.2%

Value $287K Shares 580 Est. Cost $503.38 Unrealized —

ADUS ADDUS HOMECARE CORP 0.1%

Value $264K Shares 2,815 Est. Cost $124.74 Unrealized —

FSV FIRSTSERVICE CORP NEW 0.1%

Value $261K Shares 1,878 Est. Cost $184.27 Unrealized —

CIGI COLLIERS INTL GROUP INC 0.1%

Value $256K Shares 2,392 Est. Cost $145.18 Unrealized —

OMF ONEMAIN HLDGS INC 0.1%

Value $240K Shares 4,484 Est. Cost $51.84 Unrealized —

GBCI GLACIER BANCORP INC NEW 0.1%

Value $239K Shares 5,355 Est. Cost $49.22 Unrealized —

HLNE HAMILTON LANE INC 0.1%

Value $232K Shares 2,331 Est. Cost $175.28 Unrealized —

MSGS MADISON SQUARE GRDN SPRT COR 0.1%

Value $213K Shares 664 Est. Cost $286.84 Unrealized —

RLI RLI CORP 0.1%

Value $210K Shares 3,683 Est. Cost $75.47 Unrealized —

DSGX DESCARTES SYS GROUP INC 0.1%

Value $209K Shares 2,924 Est. Cost $111.22 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ARCC	ARES CAPITAL CORP	24,103	$434K	0.2%	$19.88	—	—	04010L103
MUSA	MURPHY USA INC	580	$287K	0.2%	$503.38	—	—	626755102
ADUS	ADDUS HOMECARE CORP	2,815	$264K	0.1%	$124.74	—	—	006739106
FSV	FIRSTSERVICE CORP NEW	1,878	$261K	0.1%	$184.27	—	—	33767E202
CIGI	COLLIERS INTL GROUP INC	2,392	$256K	0.1%	$145.18	—	—	194693107
OMF	ONEMAIN HLDGS INC	4,484	$240K	0.1%	$51.84	—	—	68268W103
GBCI	GLACIER BANCORP INC NEW	5,355	$239K	0.1%	$49.22	—	—	37637Q105
HLNE	HAMILTON LANE INC	2,331	$232K	0.1%	$175.28	—	—	407497106
MSGS	MADISON SQUARE GRDN SPRT COR	664	$213K	0.1%	$286.84	—	—	55825T103
RLI	RLI CORP	3,683	$210K	0.1%	$75.47	—	—	749607107
DSGX	DESCARTES SYS GROUP INC	2,924	$209K	0.1%	$111.22	—	—	249906108

Decreased Positions (17)

— FS CREDIT OPPORTUNITIES CORP 5.4%

Value $9.72M (-4.3%) Shares 1,947,884 (-2.2%) Est. Cost $6.49 Unrealized —

FBTC FIDELITY WISE ORIGIN BITCOIN 0.8%

Value $1.393M (-15.7%) Shares 27,288 (-2.5%) Est. Cost $94.59 Unrealized —

NPO ENPRO INC 0.3%

Value $508K (+43.3%) Shares 1,347 (-4.7%) Est. Cost $176.77 Unrealized —

IESC IES HOLDINGS INC 0.2%

Value $414K (+46.9%) Shares 564 (-4.7%) Est. Cost $344.15 Unrealized —

VCTR VICTORY CAP HLDGS INC DEL 0.2%

Value $433K (+22.2%) Shares 5,149 (-4.8%) Est. Cost $61.14 Unrealized —

MGY MAGNOLIA OIL & GAS CORP 0.1%

Value $211K (-22.9%) Shares 8,236 (-4.8%) Est. Cost $24.80 Unrealized —

GRBK GREEN BRICK PARTNERS INC 0.2%

Value $361K (+18.2%) Shares 4,516 (-4.8%) Est. Cost $69.69 Unrealized —

FN FABRINET 0.2%

Value $273K (-15.8%) Shares 485 (-21.9%) Est. Cost $329.28 Unrealized —

MOD MODINE MFG CO 0.2%

Value $327K (+17.3%) Shares 1,226 (-4.8%) Est. Cost $127.24 Unrealized —

VSEC VSE CORP 0.1%

Value $245K (+18.0%) Shares 1,074 (-4.8%) Est. Cost $152.29 Unrealized —

GOOG ALPHABET INC 0.2%

Value $320K (+11.7%) Shares 907 (-9.3%) Est. Cost $211.46 Unrealized —

HLI HOULIHAN LOKEY INC 0.1%

Value $259K (-11.0%) Shares 1,931 (-4.7%) Est. Cost $172.93 Unrealized —

SKY CHAMPION HOMES INC 0.1%

Value $239K (+12.8%) Shares 2,713 (-4.8%) Est. Cost $70.62 Unrealized —

PLUS EPLUS INC 0.2%

Value $345K (+5.3%) Shares 4,144 (-4.8%) Est. Cost $85.33 Unrealized —

MEDP MEDPACE HLDGS INC 0.2%

Value $350K (+5.0%) Shares 660 (-4.8%) Est. Cost $337.46 Unrealized —

BCPC BALCHEM CORP 0.1%

Value $203K (-5.1%) Shares 1,201 (-4.8%) Est. Cost $169.16 Unrealized —

RBC RBC BEARINGS INC 0.2%

Value $388K (-1.2%) Shares 603 (-16.7%) Est. Cost $311.51 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	FS CREDIT OPPORTUNITIES CORP	1,947,884 (-2.2%)	$9.72M (-4.3%)	5.4%	$6.49	—	COMMON STOCK	30290Y101
FBTC	FIDELITY WISE ORIGIN BITCOIN	27,288 (-2.5%)	$1.393M (-15.7%)	0.8%	$94.59	—	SHS	315948109
NPO	ENPRO INC	1,347 (-4.7%)	$508K (+43.3%)	0.3%	$176.77	—	COM	29355X107
IESC	IES HOLDINGS INC	564 (-4.7%)	$414K (+46.9%)	0.2%	$344.15	—	COM	44951W106
VCTR	VICTORY CAP HLDGS INC DEL	5,149 (-4.8%)	$433K (+22.2%)	0.2%	$61.14	—	COM CL A	92645B103
MGY	MAGNOLIA OIL & GAS CORP	8,236 (-4.8%)	$211K (-22.9%)	0.1%	$24.80	—	CL A	559663109
GRBK	GREEN BRICK PARTNERS INC	4,516 (-4.8%)	$361K (+18.2%)	0.2%	$69.69	—	COM	392709101
FN	FABRINET	485 (-21.9%)	$273K (-15.8%)	0.2%	$329.28	—	SHS	G3323L100
MOD	MODINE MFG CO	1,226 (-4.8%)	$327K (+17.3%)	0.2%	$127.24	—	COM	607828100
VSEC	VSE CORP	1,074 (-4.8%)	$245K (+18.0%)	0.1%	$152.29	—	COM	918284100
GOOG	ALPHABET INC	907 (-9.3%)	$320K (+11.7%)	0.2%	$211.46	—	CAP STK CL C	02079K107
HLI	HOULIHAN LOKEY INC	1,931 (-4.7%)	$259K (-11.0%)	0.1%	$172.93	—	CL A	441593100
SKY	CHAMPION HOMES INC	2,713 (-4.8%)	$239K (+12.8%)	0.1%	$70.62	—	COM	830830105
PLUS	EPLUS INC	4,144 (-4.8%)	$345K (+5.3%)	0.2%	$85.33	—	COM	294268107
MEDP	MEDPACE HLDGS INC	660 (-4.8%)	$350K (+5.0%)	0.2%	$337.46	—	COM	58506Q109
BCPC	BALCHEM CORP	1,201 (-4.8%)	$203K (-5.1%)	0.1%	$169.16	—	COM	057665200
RBC	RBC BEARINGS INC	603 (-16.7%)	$388K (-1.2%)	0.2%	$311.51	—	COM	75524B104

Unchanged Positions (12)

GLD SPDR GOLD TR 20.8%

Value $37.28M Shares 101,202 Est. Cost $253.50 Unrealized —

TSLA TESLA INC 0.6%

Value $1.152M Shares 2,740 Est. Cost $289.15 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.4%

Value $662K Shares 19,872 Est. Cost $34.14 Unrealized —

VTI VANGUARD INDEX FDS 0.4%

Value $787K Shares 2,128 Est. Cost $320.81 Unrealized —

DFAC DIMENSIONAL ETF TRUST 0.3%

Value $532K Shares 11,992 Est. Cost $28.99 Unrealized —

GBTC GRAYSCALE BITCOIN TRUST ETF 0.2%

Value $347K Shares 7,632 Est. Cost $54.34 Unrealized —

XRPZ FRANKLIN XRP TRUST 0.1%

Value $130K Shares 11,450 Est. Cost $19.91 Unrealized —

VXUS VANGUARD STAR FDS 0.2%

Value $356K Shares 4,160 Est. Cost $77.11 Unrealized —

IWB ISHARES TR 0.1%

Value $241K Shares 588 Est. Cost $365.48 Unrealized —

SCHD SCHWAB STRATEGIC TR 0.2%

Value $404K Shares 12,750 Est. Cost $30.68 Unrealized —

FSK FS KKR CAP CORP 0.2%

Value $315K Shares 30,000 Est. Cost $18.88 Unrealized —

PFFD GLOBAL X FDS 0.1%

Value $196K Shares 10,475 Est. Cost $18.40 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	101,202	$37.28M	20.8%	$253.50	—	GOLD SHS	78463V107
TSLA	TESLA INC	2,740	$1.152M	0.6%	$289.15	—	COM	88160R101
IBIT	ISHARES BITCOIN TRUST ETF	19,872	$662K	0.4%	$34.14	—	SHS BEN INT	46438F101
VTI	VANGUARD INDEX FDS	2,128	$787K	0.4%	$320.81	—	TOTAL STK MKT	922908769
DFAC	DIMENSIONAL ETF TRUST	11,992	$532K	0.3%	$28.99	—	US COR EQU 2 ETF	25434V708
GBTC	GRAYSCALE BITCOIN TRUST ETF	7,632	$347K	0.2%	$54.34	—	SHS REP COM UT	389637109
XRPZ	FRANKLIN XRP TRUST	11,450	$130K	0.1%	$19.91	—	FRANKLIN XRP ETF	355233107
VXUS	VANGUARD STAR FDS	4,160	$356K	0.2%	$77.11	—	VG TL INTL STK F	921909768
IWB	ISHARES TR	588	$241K	0.1%	$365.48	—	RUS 1000 ETF	464287622
SCHD	SCHWAB STRATEGIC TR	12,750	$404K	0.2%	$30.68	—	US DIVIDEND EQ	808524797
FSK	FS KKR CAP CORP	30,000	$315K	0.2%	$18.88	—	COM	302635206
PFFD	GLOBAL X FDS	10,475	$196K	0.1%	$18.40	—	US PFD ETF	37954Y657