Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TMV	DIREXION SHARES ETF TRUST	32,000	$1.186M	0.7%	—	—	PUT	25460G849
—	WELLS FARGO & CO	532	$619K	0.4%	$1162.79	—	PERP PFD CNV A	949746804
GLD	SPDR GOLD TR	1,500	$553K	0.3%	$368.38	—	GOLD SHS	78463V107
DIA	STATE STR SPDR DOW JONES IND	590	$310K	0.2%	$525.03	—	UT SER 1	78467X109
CSCO	CISCO SYS INC	2,231	$251K	0.1%	$112.49	—	COM	17275R102
VBK	VANGUARD INDEX FDS	650	$232K	0.1%	$357.00	—	SML CP GRW ETF	922908595
VIS	VANGUARD WORLD FD	646	$229K	0.1%	$354.31	—	INDUSTRIAL ETF	92204A603

Increased Positions (12)

SPY STATE STR SPDR S&P 500 ETF T 36.4%

Value $64.16M (+57.5%) Shares 86,012 (+37.3%) Est. Cost $304.07 Unrealized —

VTI VANGUARD INDEX FDS 10.0%

Value $17.6M (+123.3%) Shares 47,687 (+94.1%) Est. Cost $261.29 Unrealized —

ITOT ISHARES TR 10.0%

Value $17.69M (+102.1%) Shares 107,979 (+75.6%) Est. Cost $155.22 Unrealized —

TLT ISHARES TR 8.8%

Value $15.46M (+58.7%) Shares 179,700 (+59.9%) Est. Cost $55.17 Unrealized —

SCHB SCHWAB STRATEGIC TR 1.7%

Value $3.041M (+58.5%) Shares 105,153 (+37.6%) Est. Cost $26.96 Unrealized —

TLT ISHARES TR 0.7%

Value $1.167M (+2141.3%) Shares 13,500 (+21.6%) Est. Cost $55.17 Unrealized —

IXUS ISHARES TR 1.7%

Value $3.016M (+50.2%) Shares 31,690 (+36.7%) Est. Cost $87.47 Unrealized —

LTPZ PIMCO ETF TR 1.9%

Value $3.33M (+32.9%) Shares 66,474 (+35.4%) Est. Cost $51.32 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 1.3%

Value $2.292M (+29.9%) Shares 27,418 (+16.7%) Est. Cost $21.24 Unrealized —

IVV ISHARES TR 0.6%

Value $975K (+28.7%) Shares 1,302 (+12.3%) Est. Cost $691.90 Unrealized —

VOO VANGUARD INDEX FDS 0.8%

Value $1.332M (+17.3%) Shares 1,940 (+2.1%) Est. Cost $599.39 Unrealized —

VNQ VANGUARD INDEX FDS 0.2%

Value $310K (+51.8%) Shares 3,200 (+39.1%) Est. Cost $90.98 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	86,012 (+37.3%)	$64.16M (+57.5%)	36.4%	$304.07	—	TR UNIT	78462F103
VTI	VANGUARD INDEX FDS	47,687 (+94.1%)	$17.6M (+123.3%)	10.0%	$261.29	—	TOTAL STK MKT	922908769
ITOT	ISHARES TR	107,979 (+75.6%)	$17.69M (+102.1%)	10.0%	$155.22	—	CORE S&P TTL STK	464287150
TLT	ISHARES TR	179,700 (+59.9%)	$15.46M (+58.7%)	8.8%	$55.17	—	20 YR TR BD ETF	464287432
SCHB	SCHWAB STRATEGIC TR	105,153 (+37.6%)	$3.041M (+58.5%)	1.7%	$26.96	—	US BRD MKT ETF	808524102
TLT	ISHARES TR	13,500 (+21.6%)	$1.167M (+2141.3%)	0.7%	$55.17	—	PUT	464287432
IXUS	ISHARES TR	31,690 (+36.7%)	$3.016M (+50.2%)	1.7%	$87.47	—	CORE MSCI TOTAL	46432F834
LTPZ	PIMCO ETF TR	66,474 (+35.4%)	$3.33M (+32.9%)	1.9%	$51.32	—	15+ YR US TIPS	72201R304
VEU	VANGUARD INTL EQUITY INDEX F	27,418 (+16.7%)	$2.292M (+29.9%)	1.3%	$21.24	—	ALLWRLD EX US	922042775
IVV	ISHARES TR	1,302 (+12.3%)	$975K (+28.7%)	0.6%	$691.90	—	CORE S&P500 ETF	464287200
VOO	VANGUARD INDEX FDS	1,940 (+2.1%)	$1.332M (+17.3%)	0.8%	$599.39	—	S&P 500 ETF SHS	922908363
VNQ	VANGUARD INDEX FDS	3,200 (+39.1%)	$310K (+51.8%)	0.2%	$90.98	—	REAL ESTATE ETF	922908553

Decreased Positions (6)

IBIT ISHARES BITCOIN TRUST ETF 4.2%

Value $7.41M (-32.5%) Shares 222,000 (-22.3%) Est. Cost $49.65 Unrealized —

COIN COINBASE GLOBAL INC 4.5%

Value $7.93M (-20.2%) Shares 50,300 (-11.6%) Est. Cost $297.98 Unrealized —

SGOV ISHARES TR 1.6%

Value $2.812M (-20.9%) Shares 27,935 (-20.9%) Est. Cost $8.70 Unrealized —

TSLA TESLA INC 1.9%

Value $3.336M (+10.8%) Shares 8,000 (-1.2%) Est. Cost $443.29 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.9%

Value $1.575M (+1.5%) Shares 3,137 (-3.1%) Est. Cost $494.87 Unrealized —

— BANK OF AMER CORP 0.2%

Value $317K (+0.6%) Shares 254 (-3.8%) Est. Cost $1252.00 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	222,000 (-22.3%)	$7.41M (-32.5%)	4.2%	$49.65	—	SHS BEN INT	46438F101
COIN	COINBASE GLOBAL INC	50,300 (-11.6%)	$7.93M (-20.2%)	4.5%	$297.98	—	COM CL A	19260Q107
SGOV	ISHARES TR	27,935 (-20.9%)	$2.812M (-20.9%)	1.6%	$8.70	—	0-3 MTH TREASURY	46436E718
TSLA	TESLA INC	8,000 (-1.2%)	$3.336M (+10.8%)	1.9%	$443.29	—	COM	88160R101
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,137 (-3.1%)	$1.575M (+1.5%)	0.9%	$494.87	—	CL B NEW	084670702
—	BANK OF AMER CORP	254 (-3.8%)	$317K (+0.6%)	0.2%	$1252.00	—	7.25%CNV PFD L	060505682

Unchanged Positions (9)

IBIT ISHARES BITCOIN TRUST ETF 1.5%

Value $2.637M Shares 79,200 Est. Cost $49.65 Unrealized —

TIP ISHARES TR 1.0%

Value $1.685M Shares 15,400 Est. Cost — Unrealized —

TSLA TESLA INC 0.6%

Value $1.052M Shares 2,500 Est. Cost $443.29 Unrealized —

AAPL APPLE INC 3.4%

Value $5.916M Shares 19,221 Est. Cost $268.34 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC 2.2%

Value $3.822M Shares 29,426 Est. Cost $181.03 Unrealized —

JPM JPMORGAN CHASE & CO 1.8%

Value $3.21M Shares 9,700 Est. Cost $309.65 Unrealized —

IWM ISHARES TR 0.2%

Value $421K Shares 1,400 Est. Cost $246.16 Unrealized —

NRXP NRX PHARMACEUTICALS INC 0.0%

Value $57,750 Shares 15,000 Est. Cost $2.68 Unrealized —

SCHW SCHWAB CHARLES CORP 0.3%

Value $545K Shares 5,800 Est. Cost $100.12 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	79,200	$2.637M	1.5%	$49.65	—	PUT	46438F101
TIP	ISHARES TR	15,400	$1.685M	1.0%	—	—	PUT	464287176
TSLA	TESLA INC	2,500	$1.052M	0.6%	$443.29	—	PUT	88160R101
AAPL	APPLE INC	19,221	$5.916M	3.4%	$268.34	—	COM	037833100
PLTR	PALANTIR TECHNOLOGIES INC	29,426	$3.822M	2.2%	$181.03	—	CL A	69608A108
JPM	JPMORGAN CHASE & CO	9,700	$3.21M	1.8%	$309.65	—	COM	46625H100
IWM	ISHARES TR	1,400	$421K	0.2%	$246.16	—	RUSSELL 2000 ETF	464287655
NRXP	NRX PHARMACEUTICALS INC	15,000	$57,750	0.0%	$2.68	—	COM NEW	629444209
SCHW	SCHWAB CHARLES CORP	5,800	$545K	0.3%	$100.12	—	COM	808513105