Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VTV	VANGUARD INDEX FDS	197,031	$42.94M	16.6%	$217.93	—	VALUE ETF	922908744
PRF	INVESCO EXCHANGE TRADED FD T	6,488	$351K	0.1%	$54.03	—	RAFI US 1000 ETF	46137V613
INTC	INTEL CORP	2,212	$309K	0.1%	$139.63	—	COM	458140100
AMD	ADVANCED MICRO DEVICES INC	511	$297K	0.1%	$580.91	—	COM	007903107
ALAB	ASTERA LABS INC	521	$252K	0.1%	$483.02	—	COM	04626A103
SDY	SPDR SERIES TRUST	1,490	$227K	0.1%	$152.18	—	STATE STREET SPD	78464A763
USMV	ISHARES TR	2,337	$225K	0.1%	$96.46	—	MSCI USA MIN VOL	46429B697
VO	VANGUARD INDEX FDS	2,701	$218K	0.1%	$80.58	—	MID CAP ETF	922908629
FJUL	FIRST TR EXCHNG TRADED FD VI	3,598	$214K	0.1%	$59.54	—	FT VEST US EQT	33740U208
WPC	WP CAREY INC	2,846	$203K	0.1%	$71.50	—	COM	92936U109

Increased Positions (15)

QQQ INVESCO QQQ TR 15.0%

Value $38.84M (+45.6%) Shares 52,745 (+14.1%) Est. Cost $629.39 Unrealized —

SMMD ISHARES TR 12.4%

Value $32.16M (+44.7%) Shares 351,000 (+20.5%) Est. Cost $77.78 Unrealized —

VOE VANGUARD INDEX FDS 11.9%

Value $30.74M (+33.6%) Shares 155,553 (+24.6%) Est. Cost $181.36 Unrealized —

AAPL APPLE INC 1.7%

Value $4.338M (+15.4%) Shares 14,993 (+1.2%) Est. Cost $268.60 Unrealized —

VTI VANGUARD INDEX FDS 1.2%

Value $2.998M (+20.9%) Shares 8,102 (+4.8%) Est. Cost $335.18 Unrealized —

PFXF VANECK ETF TRUST 0.2%

Value $553K (+58.8%) Shares 30,978 (+56.1%) Est. Cost $17.70 Unrealized —

VNQ VANGUARD INDEX FDS 0.3%

Value $749K (+27.3%) Shares 7,769 (+17.1%) Est. Cost $89.67 Unrealized —

NVDA NVIDIA CORPORATION 0.3%

Value $664K (+30.5%) Shares 3,317 (+13.8%) Est. Cost $187.82 Unrealized —

XOM EXXON MOBIL CORP 0.3%

Value $657K (-18.1%) Shares 4,802 (+1.7%) Est. Cost $115.84 Unrealized —

GOOGL ALPHABET INC 0.2%

Value $450K (+45.8%) Shares 1,260 (+17.3%) Est. Cost $296.21 Unrealized —

BNDX VANGUARD CHARLOTTE FDS 0.2%

Value $520K (+14.7%) Shares 10,737 (+13.8%) Est. Cost $48.33 Unrealized —

IAU ISHARES GOLD TR 0.3%

Value $823K (+7.8%) Shares 10,904 (+25.9%) Est. Cost $80.01 Unrealized —

MBSX ADVISOR MANAGED PORTFOLIOS 0.1%

Value $298K (+16.7%) Shares 10,927 (+20.4%) Est. Cost $28.02 Unrealized —

TSLA TESLA INC 0.1%

Value $246K (+19.5%) Shares 585 (+5.6%) Est. Cost $442.08 Unrealized —

— NUVEEN PFD & INCOME OPPORTUN 0.0%

Value $98,511 (+6.6%) Shares 12,501 (+2.0%) Est. Cost $8.11 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	52,745 (+14.1%)	$38.84M (+45.6%)	15.0%	$629.39	—	UNIT SER 1	46090E103
SMMD	ISHARES TR	351,000 (+20.5%)	$32.16M (+44.7%)	12.4%	$77.78	—	RUSEL 2500 ETF	46435G268
VOE	VANGUARD INDEX FDS	155,553 (+24.6%)	$30.74M (+33.6%)	11.9%	$181.36	—	MCAP VL IDXVIP	922908512
AAPL	APPLE INC	14,993 (+1.2%)	$4.338M (+15.4%)	1.7%	$268.60	—	COM	037833100
VTI	VANGUARD INDEX FDS	8,102 (+4.8%)	$2.998M (+20.9%)	1.2%	$335.18	—	TOTAL STK MKT	922908769
PFXF	VANECK ETF TRUST	30,978 (+56.1%)	$553K (+58.8%)	0.2%	$17.70	—	PREFERRED SECURT	92189F429
VNQ	VANGUARD INDEX FDS	7,769 (+17.1%)	$749K (+27.3%)	0.3%	$89.67	—	REAL ESTATE ETF	922908553
NVDA	NVIDIA CORPORATION	3,317 (+13.8%)	$664K (+30.5%)	0.3%	$187.82	—	COM	67066G104
XOM	EXXON MOBIL CORP	4,802 (+1.7%)	$657K (-18.1%)	0.3%	$115.84	—	COM	30231G102
GOOGL	ALPHABET INC	1,260 (+17.3%)	$450K (+45.8%)	0.2%	$296.21	—	CAP STK CL A	02079K305
BNDX	VANGUARD CHARLOTTE FDS	10,737 (+13.8%)	$520K (+14.7%)	0.2%	$48.33	—	TOTAL INT BD ETF	92203J407
IAU	ISHARES GOLD TR	10,904 (+25.9%)	$823K (+7.8%)	0.3%	$80.01	—	ISHARES NEW	464285204
MBSX	ADVISOR MANAGED PORTFOLIOS	10,927 (+20.4%)	$298K (+16.7%)	0.1%	$28.02	—	REGAN FIXED RATE	00777X520
TSLA	TESLA INC	585 (+5.6%)	$246K (+19.5%)	0.1%	$442.08	—	COM	88160R101
—	NUVEEN PFD & INCOME OPPORTUN	12,501 (+2.0%)	$98,511 (+6.6%)	0.0%	$8.11	—	COM	67073B106

Exited Positions (4)

EDV VANGUARD WORLD FD 3.5%

Value $9.132M Shares 140,603 Est. Cost $65.01 Unrealized —

TLT ISHARES TR 1.6%

Value $4.215M Shares 48,621 Est. Cost $87.16 Unrealized —

— BLACKROCK CR ALLOCATION 0.1%

Value $353K Shares 34,928 Est. Cost $10.83 Unrealized —

— WELLS FARGO & CO 0.1%

Value $232K Shares 201 Est. Cost $1212.34 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EDV	VANGUARD WORLD FD	140,603	$9.132M	3.5%	$65.01	—	—	921910709
TLT	ISHARES TR	48,621	$4.215M	1.6%	$87.16	—	—	464287432
—	BLACKROCK CR ALLOCATION	34,928	$353K	0.1%	$10.83	—	—	092508100
—	WELLS FARGO & CO	201	$232K	0.1%	$1212.34	—	—	949746804

Decreased Positions (10)

BRK/B BERKSHIRE HATHAWAY INC DEL 13.2%

Value $34.2M (-41.2%) Shares 68,349 (-43.7%) Est. Cost $497.48 Unrealized —

JAAA JANUS DETROIT STR TR 11.5%

Value $29.92M (-6.9%) Shares 592,671 (-7.1%) Est. Cost $50.58 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 3.7%

Value $9.479M (+9.5%) Shares 44,552 (-1.2%) Est. Cost $191.57 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 0.6%

Value $1.498M (-30.5%) Shares 2 (-33.3%) Est. Cost $746423.56 Unrealized —

GLD SPDR GOLD TR 0.3%

Value $721K (-29.0%) Shares 1,956 (-17.1%) Est. Cost $396.31 Unrealized —

VDE VANGUARD WORLD FD 0.1%

Value $384K (-23.6%) Shares 2,559 (-11.9%) Est. Cost $125.90 Unrealized —

JNJ JOHNSON & JOHNSON 0.4%

Value $1.074M (-5.9%) Shares 4,228 (-9.4%) Est. Cost $197.01 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.6%

Value $1.499M (+4.3%) Shares 21,039 (-6.2%) Est. Cost $62.59 Unrealized —

MDY STATE STR SPDR S&P MIDCAP 40 0.2%

Value $506K (+12.4%) Shares 720 (-1.4%) Est. Cost $603.00 Unrealized —

JSI JANUS DETROIT STR TR 0.1%

Value $384K (-4.8%) Shares 7,506 (-4.1%) Est. Cost $51.55 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	68,349 (-43.7%)	$34.2M (-41.2%)	13.2%	$497.48	—	CL B NEW	084670702
JAAA	JANUS DETROIT STR TR	592,671 (-7.1%)	$29.92M (-6.9%)	11.5%	$50.58	—	HENDRSON AAA CL	47103U845
RSP	INVESCO EXCHANGE TRADED FD T	44,552 (-1.2%)	$9.479M (+9.5%)	3.7%	$191.57	—	S&P500 EQL WGT	46137V357
BRK/A	BERKSHIRE HATHAWAY INC DEL	2 (-33.3%)	$1.498M (-30.5%)	0.6%	$746423.56	—	CL A	084670108
GLD	SPDR GOLD TR	1,956 (-17.1%)	$721K (-29.0%)	0.3%	$396.31	—	GOLD SHS	78463V107
VDE	VANGUARD WORLD FD	2,559 (-11.9%)	$384K (-23.6%)	0.1%	$125.90	—	ENERGY ETF	92204A306
JNJ	JOHNSON & JOHNSON	4,228 (-9.4%)	$1.074M (-5.9%)	0.4%	$197.01	—	COM	478160104
VEA	VANGUARD TAX-MANAGED FDS	21,039 (-6.2%)	$1.499M (+4.3%)	0.6%	$62.59	—	VAN FTSE DEV MKT	921943858
MDY	STATE STR SPDR S&P MIDCAP 40	720 (-1.4%)	$506K (+12.4%)	0.2%	$603.00	—	UTSER1 S&PDCRP	78467Y107
JSI	JANUS DETROIT STR TR	7,506 (-4.1%)	$384K (-4.8%)	0.1%	$51.55	—	HENDERSON SECURI	47103U746

Unchanged Positions (24)

MRVL MARVELL TECHNOLOGY INC 0.3%

Value $701K Shares 2,353 Est. Cost $81.07 Unrealized —

WMT WALMART INC 1.5%

Value $3.855M Shares 34,033 Est. Cost $107.20 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 1.0%

Value $2.477M Shares 3,317 Est. Cost $681.91 Unrealized —

AZZ AZZ INC 0.4%

Value $1.085M Shares 7,000 Est. Cost $103.44 Unrealized —

PHYS SPROTT ASSET MANAGEMENT LP 0.5%

Value $1.195M Shares 39,596 Est. Cost $33.25 Unrealized —

PEP PEPSICO INC 0.4%

Value $948K Shares 7,001 Est. Cost $145.91 Unrealized —

AMZN AMAZON COM INC 0.3%

Value $878K Shares 3,685 Est. Cost $228.79 Unrealized —

COP CONOCOPHILLIPS 0.1%

Value $345K Shares 3,323 Est. Cost $90.02 Unrealized —

GOOG ALPHABET INC 0.1%

Value $371K Shares 1,050 Est. Cost $286.33 Unrealized —

CFR CULLEN FROST BANKERS INC 0.2%

Value $572K Shares 3,699 Est. Cost $124.81 Unrealized —

UNP UNION PAC CORP 0.2%

Value $533K Shares 1,959 Est. Cost $227.32 Unrealized —

CVX CHEVRON CORPORATION 0.1%

Value $221K Shares 1,335 Est. Cost $151.40 Unrealized —

DFAC DIMENSIONAL ETF TRUST 0.1%

Value $373K Shares 8,410 Est. Cost $39.59 Unrealized —

A AGILENT TECHNOLOGIES INC 0.1%

Value $287K Shares 2,160 Est. Cost $143.72 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.1%

Value $216K Shares 6,479 Est. Cost $49.65 Unrealized —

— HANCOCK JOHN TAX-ADVANTAGED 0.3%

Value $779K Shares 30,554 Est. Cost $23.66 Unrealized —

NVS NOVARTIS AG 0.3%

Value $852K Shares 5,434 Est. Cost $137.88 Unrealized —

PAGP PLAINS GP HLDGS L P 0.8%

Value $2.011M Shares 82,841 Est. Cost $19.35 Unrealized —

WFC WELLS FARGO & CO 0.1%

Value $383K Shares 4,632 Est. Cost $86.63 Unrealized —

YUM YUM BRANDS INC 0.1%

Value $381K Shares 2,384 Est. Cost $147.67 Unrealized —

PVL PERMIANVILLE RTY TR 0.0%

Value $46,839 Shares 27,715 Est. Cost $1.79 Unrealized —

MBSF VALUED ADVISERS TR 0.2%

Value $516K Shares 20,101 Est. Cost $25.64 Unrealized —

NEXT NEXTDECADE CORP 0.0%

Value $75,400 Shares 10,000 Est. Cost $5.96 Unrealized —

MSFT MICROSOFT CORP 0.4%

Value $1.089M Shares 2,918 Est. Cost $500.58 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MRVL	MARVELL TECHNOLOGY INC	2,353	$701K	0.3%	$81.07	—	COM	573874104
WMT	WALMART INC	34,033	$3.855M	1.5%	$107.20	—	COM	931142103
SPY	STATE STR SPDR S&P 500 ETF T	3,317	$2.477M	1.0%	$681.91	—	TR UNIT	78462F103
AZZ	AZZ INC	7,000	$1.085M	0.4%	$103.44	—	COM	002474104
PHYS	SPROTT ASSET MANAGEMENT LP	39,596	$1.195M	0.5%	$33.25	—	PHYSICAL GOLD TR	85207H104
PEP	PEPSICO INC	7,001	$948K	0.4%	$145.91	—	COM	713448108
AMZN	AMAZON COM INC	3,685	$878K	0.3%	$228.79	—	COM	023135106
COP	CONOCOPHILLIPS	3,323	$345K	0.1%	$90.02	—	COM	20825C104
GOOG	ALPHABET INC	1,050	$371K	0.1%	$286.33	—	CAP STK CL C	02079K107
CFR	CULLEN FROST BANKERS INC	3,699	$572K	0.2%	$124.81	—	COM	229899109
UNP	UNION PAC CORP	1,959	$533K	0.2%	$227.32	—	COM	907818108
CVX	CHEVRON CORPORATION	1,335	$221K	0.1%	$151.40	—	COM	166764100
DFAC	DIMENSIONAL ETF TRUST	8,410	$373K	0.1%	$39.59	—	US CORE EQUITY 2	25434V708
A	AGILENT TECHNOLOGIES INC	2,160	$287K	0.1%	$143.72	—	COM	00846U101
IBIT	ISHARES BITCOIN TRUST ETF	6,479	$216K	0.1%	$49.65	—	SHS BEN INT	46438F101
—	HANCOCK JOHN TAX-ADVANTAGED	30,554	$779K	0.3%	$23.66	—	COM	41013V100
NVS	NOVARTIS AG	5,434	$852K	0.3%	$137.88	—	SPONSORED ADR	66987V109
PAGP	PLAINS GP HLDGS L P	82,841	$2.011M	0.8%	$19.35	—	LTD PARTNR INT A	72651A207
WFC	WELLS FARGO & CO	4,632	$383K	0.1%	$86.63	—	COM	949746101
YUM	YUM BRANDS INC	2,384	$381K	0.1%	$147.67	—	COM	988498101
PVL	PERMIANVILLE RTY TR	27,715	$46,839	0.0%	$1.79	—	TR UNIT	71425H100
MBSF	VALUED ADVISERS TR	20,101	$516K	0.2%	$25.64	—	REGAN FLTG RATE	92046L338
NEXT	NEXTDECADE CORP	10,000	$75,400	0.0%	$5.96	—	COM	65342K105
MSFT	MICROSOFT CORP	2,918	$1.089M	0.4%	$500.58	—	COM	594918104