MontVue Capital Management, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLK	SELECT SECTOR SPDR TR	70,067 (+91.1%)	$10,088 (-2.4%)	6.7%	$169.35	—	STATE STREET TEC	81369Y803
VEA	VANGUARD TAX-MANAGED FDS	19,644 (+1.6%)	$1,227 (+5.9%)	0.8%	$48.92	—	VAN FTSE DEV MKT	921943858
AAPL	APPLE INC	2,830 (+1.7%)	$769 (+8.6%)	0.5%	$185.63	+44.6%	COM	037833100
DJP	BARCLAYS BANK PLC	17,164 (+1.5%)	$646 (+7.7%)	0.4%	$31.35	—	DJUBS CMDT ETN36	06738C778
XLU	SELECT SECTOR SPDR TR	16,855 (+95.3%)	$720 (-4.4%)	0.5%	$53.26	—	STATE STREET UTI	81369Y886
MDY	SPDR S&P MIDCAP 400 ETF TR	1,447 (+2.1%)	$873 (+3.4%)	0.6%	$516.28	—	UTSER1 S&PDCRP	78467Y107
XLE	SELECT SECTOR SPDR TR	16,387 (+96.0%)	$733 (-1.9%)	0.5%	$64.67	—	STATE STREET ENE	81369Y506
XLY	SELECT SECTOR SPDR TR	27,105 (+100.0%)	$3,237 (-0.3%)	2.2%	$149.11	—	STATE STREET CON	81369Y407
XLB	SELECT SECTOR SPDR TR	15,386 (+97.7%)	$698 (+0.0%)	0.5%	$65.68	—	STATE STREET MAT	81369Y100

Exited Positions (2)

ORCL ORACLE CORP 0.2%

Value ($000) $258 Shares 918 Est. Cost $160.80 Unrealized +48.0%

META META PLATFORMS INC 0.1%

Value ($000) $215 Shares 293 Est. Cost $616.61 Unrealized +8.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ORCL	ORACLE CORP	918	$258	0.2%	$160.80	+48.0%	—	68389X105
META	META PLATFORMS INC	293	$215	0.1%	$616.61	+8.2%	—	30303M102

Decreased Positions (12)

XLV SELECT SECTOR SPDR TR 2.1%

Value ($000) $3,183 (+9.8%) Shares 20,564 (-1.2%) Est. Cost $136.38 Unrealized —

ESGU ISHARES TR 0.2%

Value ($000) $271 (-43.2%) Shares 1,819 (-44.5%) Est. Cost $104.92 Unrealized —

VGT VANGUARD WORLD FD 3.1%

Value ($000) $4,649 (-3.6%) Shares 6,168 (-4.5%) Est. Cost $508.42 Unrealized —

SPY SPDR S&P 500 ETF TR 1.3%

Value ($000) $1,928 (-6.2%) Shares 2,828 (-8.4%) Est. Cost $477.24 Unrealized —

VUSB VANGUARD BD INDEX FDS 1.1%

Value ($000) $1,661 (-4.9%) Shares 33,331 (-4.6%) Est. Cost $49.44 Unrealized —

XLI SELECT SECTOR SPDR TR 1.9%

Value ($000) $2,881 (-1.7%) Shares 18,575 (-2.2%) Est. Cost $113.99 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.2%

Value ($000) $264 (-12.7%) Shares 6,474 (-5.8%) Est. Cost $33.10 Unrealized +22.3%

XLF SELECT SECTOR SPDR TR 2.2%

Value ($000) $3,346 (-1.1%) Shares 61,096 (-2.7%) Est. Cost $37.60 Unrealized —

XLRE SELECT SECTOR SPDR TR 0.3%

Value ($000) $514 (-5.3%) Shares 12,727 (-1.2%) Est. Cost $40.03 Unrealized —

XLP SELECT SECTOR SPDR TR 0.9%

Value ($000) $1,301 (-2.0%) Shares 16,749 (-1.1%) Est. Cost $72.03 Unrealized —

JPM JPMORGAN CHASE & CO. 0.3%

Value ($000) $479 (-1.5%) Shares 1,486 (-3.6%) Est. Cost $199.37 Unrealized +55.3%

TSLA TESLA INC 0.8%

Value ($000) $1,191 (+0.0%) Shares 2,649 (-1.1%) Est. Cost $324.85 Unrealized +36.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLV	SELECT SECTOR SPDR TR	20,564 (-1.2%)	$3,183 (+9.8%)	2.1%	$136.38	—	STATE STREET HEA	81369Y209
ESGU	ISHARES TR	1,819 (-44.5%)	$271 (-43.2%)	0.2%	$104.92	—	ESG AWR MSCI USA	46435G425
VGT	VANGUARD WORLD FD	6,168 (-4.5%)	$4,649 (-3.6%)	3.1%	$508.42	—	INF TECH ETF	92204A702
SPY	SPDR S&P 500 ETF TR	2,828 (-8.4%)	$1,928 (-6.2%)	1.3%	$477.24	—	TR UNIT	78462F103
VUSB	VANGUARD BD INDEX FDS	33,331 (-4.6%)	$1,661 (-4.9%)	1.1%	$49.44	—	VANGUARD ULTRA	92203C303
XLI	SELECT SECTOR SPDR TR	18,575 (-2.2%)	$2,881 (-1.7%)	1.9%	$113.99	—	STATE STREET IND	81369Y704
VZ	VERIZON COMMUNICATIONS INC	6,474 (-5.8%)	$264 (-12.7%)	0.2%	$33.10	+22.3%	COM	92343V104
XLF	SELECT SECTOR SPDR TR	61,096 (-2.7%)	$3,346 (-1.1%)	2.2%	$37.60	—	STATE STREET FIN	81369Y605
XLRE	SELECT SECTOR SPDR TR	12,727 (-1.2%)	$514 (-5.3%)	0.3%	$40.03	—	STATE STREET REA	81369Y860
XLP	SELECT SECTOR SPDR TR	16,749 (-1.1%)	$1,301 (-2.0%)	0.9%	$72.03	—	STATE STREET CON	81369Y308
JPM	JPMORGAN CHASE & CO.	1,486 (-3.6%)	$479 (-1.5%)	0.3%	$199.37	+55.3%	COM	46625H100
TSLA	TESLA INC	2,649 (-1.1%)	$1,191 (+0.0%)	0.8%	$324.85	+36.5%	COM	88160R101

Unchanged Positions (43)

ITOT ISHARES TR 18.8%

Value ($000) $28,236 Shares 189,895 Est. Cost $108.68 Unrealized —

IXUS ISHARES TR 12.7%

Value ($000) $19,090 Shares 225,548 Est. Cost $65.10 Unrealized —

VTI VANGUARD INDEX FDS 12.1%

Value ($000) $18,126 Shares 54,064 Est. Cost $237.22 Unrealized —

VXUS VANGUARD STAR FDS 6.7%

Value ($000) $10,070 Shares 133,481 Est. Cost $58.39 Unrealized —

VHT VANGUARD WORLD FD 1.4%

Value ($000) $2,086 Shares 7,246 Est. Cost $256.25 Unrealized —

GOOGL ALPHABET INC 0.3%

Value ($000) $517 Shares 1,652 Est. Cost $167.35 Unrealized +70.7%

GOOG ALPHABET INC 0.3%

Value ($000) $410 Shares 1,305 Est. Cost $168.88 Unrealized +69.5%

VOX VANGUARD WORLD FD 1.5%

Value ($000) $2,239 Shares 11,561 Est. Cost $121.62 Unrealized —

MSFT MICROSOFT CORP 0.6%

Value ($000) $914 Shares 1,889 Est. Cost $378.64 Unrealized +32.2%

COF CAPITAL ONE FINL CORP 0.3%

Value ($000) $453 Shares 1,870 Est. Cost $176.15 Unrealized +26.1%

VOO VANGUARD INDEX FDS 1.3%

Value ($000) $2,007 Shares 3,201 Est. Cost $505.53 Unrealized —

VFH VANGUARD WORLD FD 1.7%

Value ($000) $2,489 Shares 18,648 Est. Cost $95.31 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 0.9%

Value ($000) $1,365 Shares 18,554 Est. Cost $56.14 Unrealized —

BOTJ BANK OF THE JAMES FINL GP IN 0.2%

Value ($000) $242 Shares 13,027 Est. Cost $9.79 Unrealized +72.6%

TRGP TARGA RES CORP 0.2%

Value ($000) $344 Shares 1,863 Est. Cost $82.03 Unrealized +104.9%

VV VANGUARD INDEX FDS 0.9%

Value ($000) $1,387 Shares 4,407 Est. Cost $218.15 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.2%

Value ($000) $284 Shares 323 Est. Cost $571.74 Unrealized +42.3%

RTX RTX CORPORATION 0.2%

Value ($000) $297 Shares 1,620 Est. Cost $124.76 Unrealized +38.9%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.2%

Value ($000) $321 Shares 1,055 Est. Cost $226.49 Unrealized —

XLC SELECT SECTOR SPDR TR 1.3%

Value ($000) $1,960 Shares 16,647 Est. Cost $72.66 Unrealized —

VXF VANGUARD INDEX FDS 3.5%

Value ($000) $5,215 Shares 24,939 Est. Cost $165.02 Unrealized —

VNQ VANGUARD INDEX FDS 0.3%

Value ($000) $437 Shares 4,939 Est. Cost $87.10 Unrealized —

IEFA ISHARES TR 0.3%

Value ($000) $520 Shares 5,811 Est. Cost $70.35 Unrealized —

VDC VANGUARD WORLD FD 0.7%

Value ($000) $1,045 Shares 4,945 Est. Cost $194.24 Unrealized —

AMZN AMAZON COM INC 0.2%

Value ($000) $232 Shares 1,007 Est. Cost $197.89 Unrealized +15.6%

IXG ISHARES TR 0.2%

Value ($000) $309 Shares 2,561 Est. Cost $111.25 Unrealized —

VCR VANGUARD WORLD FD 1.1%

Value ($000) $1,717 Shares 4,358 Est. Cost $308.57 Unrealized —

VPU VANGUARD WORLD FD 0.2%

Value ($000) $373 Shares 2,017 Est. Cost $139.24 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 0.2%

Value ($000) $374 Shares 2,654 Est. Cost $102.89 Unrealized —

IXN ISHARES TR 0.3%

Value ($000) $483 Shares 4,596 Est. Cost $78.60 Unrealized —

V VISA INC 0.2%

Value ($000) $287 Shares 817 Est. Cost $302.26 Unrealized +12.6%

VIS VANGUARD WORLD FD 0.9%

Value ($000) $1,366 Shares 4,578 Est. Cost $227.82 Unrealized —

IWF ISHARES TR 0.4%

Value ($000) $628 Shares 1,328 Est. Cost $364.40 Unrealized —

FBND FIDELITY MERRIMACK STR TR 0.4%

Value ($000) $581 Shares 12,613 Est. Cost $46.04 Unrealized —

EFA ISHARES TR 0.2%

Value ($000) $227 Shares 2,364 Est. Cost $89.39 Unrealized —

GE GE AEROSPACE 0.2%

Value ($000) $267 Shares 867 Est. Cost $218.59 Unrealized +37.6%

VO VANGUARD INDEX FDS 0.3%

Value ($000) $456 Shares 1,571 Est. Cost $232.64 Unrealized —

VTV VANGUARD INDEX FDS 0.2%

Value ($000) $228 Shares 1,194 Est. Cost $174.57 Unrealized —

IEMG ISHARES INC 0.2%

Value ($000) $258 Shares 3,831 Est. Cost $53.72 Unrealized —

IVV ISHARES TR 0.1%

Value ($000) $208 Shares 304 Est. Cost $669.30 Unrealized —

VAW VANGUARD WORLD FD 0.2%

Value ($000) $323 Shares 1,557 Est. Cost $191.90 Unrealized —

VDE VANGUARD WORLD FD 0.4%

Value ($000) $657 Shares 5,218 Est. Cost $120.66 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.3%

Value ($000) $434 Shares 863 Est. Cost $354.11 Unrealized +40.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ITOT	ISHARES TR	189,895	$28,236	18.8%	$108.68	—	CORE S&P TTL STK	464287150
IXUS	ISHARES TR	225,548	$19,090	12.7%	$65.10	—	CORE MSCI TOTAL	46432F834
VTI	VANGUARD INDEX FDS	54,064	$18,126	12.1%	$237.22	—	TOTAL STK MKT	922908769
VXUS	VANGUARD STAR FDS	133,481	$10,070	6.7%	$58.39	—	VG TL INTL STK F	921909768
VHT	VANGUARD WORLD FD	7,246	$2,086	1.4%	$256.25	—	HEALTH CAR ETF	92204A504
GOOGL	ALPHABET INC	1,652	$517	0.3%	$167.35	+70.7%	CAP STK CL A	02079K305
GOOG	ALPHABET INC	1,305	$410	0.3%	$168.88	+69.5%	CAP STK CL C	02079K107
VOX	VANGUARD WORLD FD	11,561	$2,239	1.5%	$121.62	—	COMM SRVC ETF	92204A884
MSFT	MICROSOFT CORP	1,889	$914	0.6%	$378.64	+32.2%	COM	594918104
COF	CAPITAL ONE FINL CORP	1,870	$453	0.3%	$176.15	+26.1%	COM	14040H105
VOO	VANGUARD INDEX FDS	3,201	$2,007	1.3%	$505.53	—	S&P 500 ETF SHS	922908363
VFH	VANGUARD WORLD FD	18,648	$2,489	1.7%	$95.31	—	FINANCIALS ETF	92204A405
VEU	VANGUARD INTL EQUITY INDEX F	18,554	$1,365	0.9%	$56.14	—	ALLWRLD EX US	922042775
BOTJ	BANK OF THE JAMES FINL GP IN	13,027	$242	0.2%	$9.79	+72.6%	COM	470299108
TRGP	TARGA RES CORP	1,863	$344	0.2%	$82.03	+104.9%	COM	87612G101
VV	VANGUARD INDEX FDS	4,407	$1,387	0.9%	$218.15	—	LARGE CAP ETF	922908637
GS	GOLDMAN SACHS GROUP INC	323	$284	0.2%	$571.74	+42.3%	COM	38141G104
RTX	RTX CORPORATION	1,620	$297	0.2%	$124.76	+38.9%	COM	75513E101
TSM	TAIWAN SEMICONDUCTOR MFG LTD	1,055	$321	0.2%	$226.49	—	SPONSORED ADS	874039100
XLC	SELECT SECTOR SPDR TR	16,647	$1,960	1.3%	$72.66	—	STATE STREET COM	81369Y852
VXF	VANGUARD INDEX FDS	24,939	$5,215	3.5%	$165.02	—	EXTEND MKT ETF	922908652
VNQ	VANGUARD INDEX FDS	4,939	$437	0.3%	$87.10	—	REAL ESTATE ETF	922908553
IEFA	ISHARES TR	5,811	$520	0.3%	$70.35	—	CORE MSCI EAFE	46432F842
VDC	VANGUARD WORLD FD	4,945	$1,045	0.7%	$194.24	—	CONSUM STP ETF	92204A207
AMZN	AMAZON COM INC	1,007	$232	0.2%	$197.89	+15.6%	COM	023135106
IXG	ISHARES TR	2,561	$309	0.2%	$111.25	—	GLOBAL FINLS ETF	464287333
VCR	VANGUARD WORLD FD	4,358	$1,717	1.1%	$308.57	—	CONSUM DIS ETF	92204A108
VPU	VANGUARD WORLD FD	2,017	$373	0.2%	$139.24	—	UTILITIES ETF	92204A876
VT	VANGUARD INTL EQUITY INDEX F	2,654	$374	0.2%	$102.89	—	TT WRLD ST ETF	922042742
IXN	ISHARES TR	4,596	$483	0.3%	$78.60	—	GLOBAL TECH ETF	464287291
V	VISA INC	817	$287	0.2%	$302.26	+12.6%	COM CL A	92826C839
VIS	VANGUARD WORLD FD	4,578	$1,366	0.9%	$227.82	—	INDUSTRIAL ETF	92204A603
IWF	ISHARES TR	1,328	$628	0.4%	$364.40	—	RUS 1000 GRW ETF	464287614
FBND	FIDELITY MERRIMACK STR TR	12,613	$581	0.4%	$46.04	—	TOTAL BD ETF	316188309
EFA	ISHARES TR	2,364	$227	0.2%	$89.39	—	MSCI EAFE ETF	464287465
GE	GE AEROSPACE	867	$267	0.2%	$218.59	+37.6%	COM NEW	369604301
VO	VANGUARD INDEX FDS	1,571	$456	0.3%	$232.64	—	MID CAP ETF	922908629
VTV	VANGUARD INDEX FDS	1,194	$228	0.2%	$174.57	—	VALUE ETF	922908744
IEMG	ISHARES INC	3,831	$258	0.2%	$53.72	—	CORE MSCI EMKT	46434G103
IVV	ISHARES TR	304	$208	0.1%	$669.30	—	CORE S&P500 ETF	464287200
VAW	VANGUARD WORLD FD	1,557	$323	0.2%	$191.90	—	MATERIALS ETF	92204A801
VDE	VANGUARD WORLD FD	5,218	$657	0.4%	$120.66	—	ENERGY ETF	92204A306
BRK/B	BERKSHIRE HATHAWAY INC DEL	863	$434	0.3%	$354.11	+40.5%	CL B NEW	084670702