STERLING INVESTMENT ADVISORS LLC /ADV Concentrated Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IEFA	ISHARES TR	414,484 (+1.6%)	$37,080 (+4.1%)	17.9%	$59.79	—	CORE MSCI EAFE	46432F842
ETHA	ISHARES ETHEREUM TR	279,953 (+25.5%)	$6,279 (-10.7%)	3.0%	$29.67	—	SHS	46438R105
IJH	ISHARES TR	124,706 (+5.1%)	$8,231 (+6.3%)	4.0%	$77.88	—	CORE S&P MCP ETF	464287507
VTV	VANGUARD INDEX FDS	61,465 (+1.8%)	$11,739 (+3.7%)	5.7%	$65.04	—	VALUE ETF	922908744
AGG	ISHARES TR	36,644 (+13.3%)	$3,660 (+12.9%)	1.8%	$107.80	—	CORE US AGGBD ET	464287226
LEMB	ISHARES INC	274,614 (+2.4%)	$11,416 (+3.3%)	5.5%	$41.37	—	JP MORGAN EM ETF	464286517
QLTA	ISHARES TR	168,719 (+4.0%)	$8,114 (+3.2%)	3.9%	$52.03	—	A RATE CP BD ETF	46429B291
STIP	ISHARES TR	77,384 (+3.8%)	$7,923 (+2.8%)	3.8%	$98.58	—	0-5 YR TIPS ETF	46429B747
TIP	ISHARES TR	61,061 (+4.5%)	$6,711 (+3.2%)	3.2%	$116.85	—	TIPS BD ETF	464287176
HYG	ISHARES TR	51,175 (+5.5%)	$4,126 (+4.8%)	2.0%	$85.29	—	IBOXX HI YD ETF	464288513
IWM	ISHARES TR	8,773 (+6.9%)	$2,160 (+8.8%)	1.0%	$155.93	—	RUSSELL 2000 ETF	464287655
SGOV	ISHARES TR	177,782 (+1.1%)	$17,846 (+0.8%)	8.6%	$100.45	—	0-3 MNTH TREASRY	46436E718
IYR	ISHARES TR	10,634 (+14.4%)	$998 (+10.7%)	0.5%	$84.25	—	U.S. REAL ES ETF	464287739
ITOT	ISHARES TR	2,593 (+12.0%)	$386 (+14.3%)	0.2%	$144.38	—	CORE S&P TTL STK	464287150
IXUS	ISHARES TR	3,431 (+9.5%)	$290 (+12.2%)	0.1%	$68.14	—	CORE MSCI TOTAL	46432F834
ESGD	ISHARES TR	2,760 (+3.3%)	$263 (+5.6%)	0.1%	$77.25	—	ESG AW MSCI EAFE	46435G516

Exited Positions (1)

T AT&T INC 0.1%

Value ($000) $230 Shares 8,127 Est. Cost $26.72 Unrealized -5.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
T	AT&T INC	8,127	$230	0.1%	$26.72	-5.4%	—	00206R102

Decreased Positions (9)

GNR SPDR INDEX SHS FDS 2.7%

Value ($000) $5,487 (+3.5%) Shares 88,296 (-1.4%) Est. Cost $43.59 Unrealized —

IVE ISHARES TR 2.5%

Value ($000) $5,085 (-3.5%) Shares 23,979 (-6.0%) Est. Cost $104.80 Unrealized —

ORLY OREILLY AUTOMOTIVE INC 0.2%

Value ($000) $326 (-21.1%) Shares 3,570 (-6.7%) Est. Cost $90.22 Unrealized +8.3%

IAU ISHARES GOLD TR 0.3%

Value ($000) $655 (-9.9%) Shares 8,071 (-19.2%) Est. Cost $39.90 Unrealized —

IYW ISHARES TR 0.2%

Value ($000) $379 (-8.5%) Shares 1,898 (-10.3%) Est. Cost $109.92 Unrealized —

IVW ISHARES TR 0.5%

Value ($000) $1,133 (-2.3%) Shares 9,190 (-4.3%) Est. Cost $92.18 Unrealized —

IEMG ISHARES INC 9.0%

Value ($000) $18,697 (-0.1%) Shares 278,150 (-2.0%) Est. Cost $49.74 Unrealized —

IJR ISHARES TR 2.2%

Value ($000) $4,515 (-0.1%) Shares 37,568 (-1.2%) Est. Cost $86.81 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.2%

Value ($000) $389 (-0.3%) Shares 6,231 (-4.4%) Est. Cost $51.82 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GNR	SPDR INDEX SHS FDS	88,296 (-1.4%)	$5,487 (+3.5%)	2.7%	$43.59	—	GLB NAT RESRCE	78463X541
IVE	ISHARES TR	23,979 (-6.0%)	$5,085 (-3.5%)	2.5%	$104.80	—	S&P 500 VAL ETF	464287408
ORLY	OREILLY AUTOMOTIVE INC	3,570 (-6.7%)	$326 (-21.1%)	0.2%	$90.22	+8.3%	COM	67103H107
IAU	ISHARES GOLD TR	8,071 (-19.2%)	$655 (-9.9%)	0.3%	$39.90	—	ISHARES NEW	464285204
IYW	ISHARES TR	1,898 (-10.3%)	$379 (-8.5%)	0.2%	$109.92	—	U.S. TECH ETF	464287721
IVW	ISHARES TR	9,190 (-4.3%)	$1,133 (-2.3%)	0.5%	$92.18	—	S&P 500 GRWT ETF	464287309
IEMG	ISHARES INC	278,150 (-2.0%)	$18,697 (-0.1%)	9.0%	$49.74	—	CORE MSCI EMKT	46434G103
IJR	ISHARES TR	37,568 (-1.2%)	$4,515 (-0.1%)	2.2%	$86.81	—	CORE S&P SCP ETF	464287804
VEA	VANGUARD TAX-MANAGED FDS	6,231 (-4.4%)	$389 (-0.3%)	0.2%	$51.82	—	VAN FTSE DEV MKT	921943858

Unchanged Positions (13)

IVV ISHARES TR 12.6%

Value ($000) $25,953 Shares 37,890 Est. Cost $269.07 Unrealized —

EFA ISHARES TR 2.0%

Value ($000) $4,072 Shares 42,399 Est. Cost $62.98 Unrealized —

AVGO BROADCOM INC 1.0%

Value ($000) $2,093 Shares 6,046 Est. Cost $305.74 Unrealized +16.8%

WMT WALMART INC 0.5%

Value ($000) $948 Shares 8,511 Est. Cost $47.44 Unrealized +126.0%

META META PLATFORMS INC 0.2%

Value ($000) $339 Shares 513 Est. Cost $743.23 Unrealized -10.2%

ISTB ISHARES TR 3.3%

Value ($000) $6,759 Shares 138,638 Est. Cost $53.17 Unrealized —

WEC WEC ENERGY GROUP INC 0.2%

Value ($000) $344 Shares 3,262 Est. Cost $51.52 Unrealized +114.0%

MSFT MICROSOFT CORP 0.2%

Value ($000) $395 Shares 817 Est. Cost $375.12 Unrealized +33.4%

AAPL APPLE INC 0.1%

Value ($000) $255 Shares 936 Est. Cost $203.72 Unrealized +31.7%

CVX CHEVRON CORP NEW 0.1%

Value ($000) $215 Shares 1,410 Est. Cost $128.83 Unrealized +17.5%

HDV ISHARES TR 0.1%

Value ($000) $288 Shares 2,365 Est. Cost $68.09 Unrealized —

DVY ISHARES TR 0.1%

Value ($000) $220 Shares 1,559 Est. Cost $119.72 Unrealized —

NVDA NVIDIA CORPORATION 0.2%

Value ($000) $469 Shares 2,516 Est. Cost $145.32 Unrealized +28.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	37,890	$25,953	12.6%	$269.07	—	CORE S&P500 ETF	464287200
EFA	ISHARES TR	42,399	$4,072	2.0%	$62.98	—	MSCI EAFE ETF	464287465
AVGO	BROADCOM INC	6,046	$2,093	1.0%	$305.74	+16.8%	COM	11135F101
WMT	WALMART INC	8,511	$948	0.5%	$47.44	+126.0%	COM	931142103
META	META PLATFORMS INC	513	$339	0.2%	$743.23	-10.2%	CL A	30303M102
ISTB	ISHARES TR	138,638	$6,759	3.3%	$53.17	—	CORE 1 5 YR USD	46432F859
WEC	WEC ENERGY GROUP INC	3,262	$344	0.2%	$51.52	+114.0%	COM	92939U106
MSFT	MICROSOFT CORP	817	$395	0.2%	$375.12	+33.4%	COM	594918104
AAPL	APPLE INC	936	$255	0.1%	$203.72	+31.7%	COM	037833100
CVX	CHEVRON CORP NEW	1,410	$215	0.1%	$128.83	+17.5%	COM	166764100
HDV	ISHARES TR	2,365	$288	0.1%	$68.09	—	CORE HIGH DV ETF	46429B663
DVY	ISHARES TR	1,559	$220	0.1%	$119.72	—	SELECT DIVID ETF	464287168
NVDA	NVIDIA CORPORATION	2,516	$469	0.2%	$145.32	+28.1%	COM	67066G104