CapWealth Advisors, LLC Diversified Active

Name: CapWealth Advisors, LLC Q4 2025 13F Filing | 13F Explorer
Creator: CapWealth Advisors, LLC
Published: 2026-02-06

Location: Franklin, TN

CIK: 0001531809 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 6, 2026

Total Value: $1.461B (100.0% shares, 0.0% debt)

Holdings (120)

New Positions (3)

REMX VANECK RARE EARTH AND STRATEGIC METALS ETF 1.0%

Value $14.41M Shares 195,002 Est. Cost $73.92 Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC COM SHS 0.2%

Value $2.839M Shares 58,447 Est. Cost $47.08 Unrealized 0.0%

DG DOLLAR GEN CORP NEW COM 0.0%

Value $415K Shares 3,128 Est. Cost $111.51 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
REMX	VANECK RARE EARTH AND STRATEGIC METALS ETF	195,002	$14.41M	1.0%	$73.92	—	ETF	92189H805
SOLS	SOLSTICE ADVANCED MATLS INC COM SHS	58,447	$2.839M	0.2%	$47.08	0.0%	Stock	83443Q103
DG	DOLLAR GEN CORP NEW COM	3,128	$415K	0.0%	$111.51	0.0%	Stock	256677105

Increased Positions (34)

LUMN LUMEN TECHNOLOGIES INC COM 3.6%

Value $52.06M (+41.9%) Shares 6,699,685 (+11.8%) Est. Cost $5.73 Unrealized +43.6%

— FEDERAL NATL MTG ASSN VAR PFD SER P 7.2%

Value $105M (+8.9%) Shares 8,086,510 (+10.1%) Est. Cost $13.14 Unrealized —

ORCL ORACLE CORP COM 1.1%

Value $15.84M (-29.9%) Shares 81,264 (+1.1%) Est. Cost $147.96 Unrealized +60.9%

NFLX NETFLIX INC. COM 1.0%

Value $14.22M (-29.1%) Shares 151,630 (+806.8%) Est. Cost $98.91 Unrealized +9.0%

GOOGL ALPHABET INC CAP STK CL A 1.2%

Value $16.92M (+31.8%) Shares 54,061 (+2.4%) Est. Cost $154.42 Unrealized +85.0%

UPS UNITED PARCEL SERVICE INC CL B 1.5%

Value $22.07M (+22.2%) Shares 222,506 (+2.9%) Est. Cost $94.69 Unrealized -2.1%

IBM INTERNATIONAL BUSINESS MACHS COM 2.5%

Value $36.04M (+6.9%) Shares 121,670 (+1.8%) Est. Cost $103.65 Unrealized +188.3%

AMGN AMGEN INC COM 0.9%

Value $12.42M (+20.1%) Shares 37,957 (+3.5%) Est. Cost $196.26 Unrealized +61.0%

CVS CVS HEALTH CORP COM 1.8%

Value $26.06M (+8.4%) Shares 328,339 (+3.0%) Est. Cost $54.82 Unrealized +43.5%

BIL STATE STREET SPDR BLOOMBERG 1-3 MONTH T-BILL ETF 0.8%

Value $11.24M (+18.6%) Shares 122,988 (+19.1%) Est. Cost $91.65 Unrealized —

SYK STRYKER CORPORATION COM 0.9%

Value $12.68M (+12.4%) Shares 36,069 (+18.2%) Est. Cost $153.13 Unrealized +137.3%

DOCU DOCUSIGN INC COM 0.5%

Value $6.98M (+20.5%) Shares 102,045 (+27.0%) Est. Cost $78.31 Unrealized -11.7%

HD HOME DEPOT INC COM 0.6%

Value $9.428M (-10.2%) Shares 27,399 (+5.8%) Est. Cost $101.96 Unrealized +257.6%

DUK DUKE ENERGY CORP NEW COM NEW 1.7%

Value $24.6M (-4.0%) Shares 209,896 (+1.4%) Est. Cost $104.70 Unrealized +16.1%

KO COCA COLA CO COM 0.9%

Value $13.32M (+7.3%) Shares 190,595 (+1.8%) Est. Cost $42.71 Unrealized +62.5%

SONY SONY GROUP CORP SPONSORED ADR 1.0%

Value $15.03M (-5.5%) Shares 587,005 (+6.3%) Est. Cost $27.77 Unrealized —

FBK FB FINL CORP COM 1.3%

Value $19.31M (+4.4%) Shares 345,973 (+4.3%) Est. Cost $50.36 Unrealized +10.4%

DOW DOW INC COM 1.3%

Value $19.12M (+4.3%) Shares 817,658 (+2.3%) Est. Cost $38.66 Unrealized -41.1%

T AT&T INC COM 0.9%

Value $13.84M (-5.4%) Shares 557,352 (+7.6%) Est. Cost $27.52 Unrealized -8.1%

PEP PEPSICO INC COM 1.1%

Value $16.53M (+4.1%) Shares 115,165 (+1.9%) Est. Cost $95.73 Unrealized +52.4%

CARR CARRIER GLOBAL CORPORATION COM 0.4%

Value $5.808M (-9.9%) Shares 109,915 (+1.8%) Est. Cost $26.22 Unrealized +111.8%

— FEDERAL NATL MTG ASSN PFD F VAR RATE 0.3%

Value $4.745M (+9.6%) Shares 203,750 (+5.2%) Est. Cost $22.40 Unrealized —

UNH UNITEDHEALTH GROUP INC COM 1.1%

Value $15.37M (-2.4%) Shares 46,571 (+2.1%) Est. Cost $303.12 Unrealized +11.2%

GOOG ALPHABET INC CAP STK CL C 0.0%

Value $590K (+175.1%) Shares 1,881 (+113.5%) Est. Cost $250.55 Unrealized +14.3%

IJH ISHARES CORE S&P MID-CAP ETF 0.0%

Value $666K (+33.1%) Shares 10,096 (+31.6%) Est. Cost $77.96 Unrealized —

HON HONEYWELL INTL INC COM 0.9%

Value $13.53M (-0.7%) Shares 69,352 (+7.2%) Est. Cost $112.11 Unrealized +74.0%

NG NOVAGOLD RESOURCES INC COM NEW 0.0%

Value $699K (+13.5%) Shares 75,000 (+7.1%) Est. Cost $6.33 Unrealized +46.6%

FITB FIFTH THIRD BANCORP COM 0.0%

Value $426K (+18.1%) Shares 9,093 (+12.4%) Est. Cost $16.48 Unrealized +164.9%

AVGO BROADCOM INC COM 0.1%

Value $810K (+7.8%) Shares 2,339 (+2.8%) Est. Cost $166.22 Unrealized +114.8%

NVDA NVIDIA CORPORATION COM 0.1%

Value $1.358M (+4.1%) Shares 7,283 (+4.1%) Est. Cost $103.94 Unrealized +79.1%

TSLA TESLA INC COM 0.0%

Value $632K (+8.3%) Shares 1,405 (+7.1%) Est. Cost $353.22 Unrealized +25.5%

CSCO CISCO SYS INC COM 0.0%

Value $240K (+13.9%) Shares 3,122 (+1.2%) Est. Cost $60.54 Unrealized +21.9%

V VISA INC COM CL A 0.0%

Value $320K (+5.0%) Shares 912 (+2.2%) Est. Cost $269.91 Unrealized +26.1%

PG PROCTER & GAMBLE CO COM 0.0%

Value $228K (-5.8%) Shares 1,589 (+1.0%) Est. Cost $158.72 Unrealized -7.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LUMN	LUMEN TECHNOLOGIES INC COM	6,699,685 (+11.8%)	$52.06M (+41.9%)	3.6%	$5.73	+43.6%	Stock	550241103
—	FEDERAL NATL MTG ASSN VAR PFD SER P	8,086,510 (+10.1%)	$105M (+8.9%)	7.2%	$13.14	—	Preferred	313586786
ORCL	ORACLE CORP COM	81,264 (+1.1%)	$15.84M (-29.9%)	1.1%	$147.96	+60.9%	Stock	68389X105
NFLX	NETFLIX INC. COM	151,630 (+806.8%)	$14.22M (-29.1%)	1.0%	$98.91	+9.0%	Stock	64110L106
GOOGL	ALPHABET INC CAP STK CL A	54,061 (+2.4%)	$16.92M (+31.8%)	1.2%	$154.42	+85.0%	Stock	02079K305
UPS	UNITED PARCEL SERVICE INC CL B	222,506 (+2.9%)	$22.07M (+22.2%)	1.5%	$94.69	-2.1%	Stock	911312106
IBM	INTERNATIONAL BUSINESS MACHS COM	121,670 (+1.8%)	$36.04M (+6.9%)	2.5%	$103.65	+188.3%	Stock	459200101
AMGN	AMGEN INC COM	37,957 (+3.5%)	$12.42M (+20.1%)	0.9%	$196.26	+61.0%	Stock	031162100
CVS	CVS HEALTH CORP COM	328,339 (+3.0%)	$26.06M (+8.4%)	1.8%	$54.82	+43.5%	Stock	126650100
BIL	STATE STREET SPDR BLOOMBERG 1-3 MONTH T-BILL ETF	122,988 (+19.1%)	$11.24M (+18.6%)	0.8%	$91.65	—	ETF	78468R663
SYK	STRYKER CORPORATION COM	36,069 (+18.2%)	$12.68M (+12.4%)	0.9%	$153.13	+137.3%	Stock	863667101
DOCU	DOCUSIGN INC COM	102,045 (+27.0%)	$6.98M (+20.5%)	0.5%	$78.31	-11.7%	Stock	256163106
HD	HOME DEPOT INC COM	27,399 (+5.8%)	$9.428M (-10.2%)	0.6%	$101.96	+257.6%	Stock	437076102
DUK	DUKE ENERGY CORP NEW COM NEW	209,896 (+1.4%)	$24.6M (-4.0%)	1.7%	$104.70	+16.1%	Stock	26441C204
KO	COCA COLA CO COM	190,595 (+1.8%)	$13.32M (+7.3%)	0.9%	$42.71	+62.5%	Stock	191216100
SONY	SONY GROUP CORP SPONSORED ADR	587,005 (+6.3%)	$15.03M (-5.5%)	1.0%	$27.77	—	ADR	835699307
FBK	FB FINL CORP COM	345,973 (+4.3%)	$19.31M (+4.4%)	1.3%	$50.36	+10.4%	Stock	30257X104
DOW	DOW INC COM	817,658 (+2.3%)	$19.12M (+4.3%)	1.3%	$38.66	-41.1%	Stock	260557103
T	AT&T INC COM	557,352 (+7.6%)	$13.84M (-5.4%)	0.9%	$27.52	-8.1%	Stock	00206R102
PEP	PEPSICO INC COM	115,165 (+1.9%)	$16.53M (+4.1%)	1.1%	$95.73	+52.4%	Stock	713448108
CARR	CARRIER GLOBAL CORPORATION COM	109,915 (+1.8%)	$5.808M (-9.9%)	0.4%	$26.22	+111.8%	Stock	14448C104
—	FEDERAL NATL MTG ASSN PFD F VAR RATE	203,750 (+5.2%)	$4.745M (+9.6%)	0.3%	$22.40	—	Preferred	313586703
UNH	UNITEDHEALTH GROUP INC COM	46,571 (+2.1%)	$15.37M (-2.4%)	1.1%	$303.12	+11.2%	Stock	91324P102
GOOG	ALPHABET INC CAP STK CL C	1,881 (+113.5%)	$590K (+175.1%)	0.0%	$250.55	+14.3%	Stock	02079K107
IJH	ISHARES CORE S&P MID-CAP ETF	10,096 (+31.6%)	$666K (+33.1%)	0.0%	$77.96	—	ETF	464287507
HON	HONEYWELL INTL INC COM	69,352 (+7.2%)	$13.53M (-0.7%)	0.9%	$112.11	+74.0%	Stock	438516106
NG	NOVAGOLD RESOURCES INC COM NEW	75,000 (+7.1%)	$699K (+13.5%)	0.0%	$6.33	+46.6%	Stock	66987E206
FITB	FIFTH THIRD BANCORP COM	9,093 (+12.4%)	$426K (+18.1%)	0.0%	$16.48	+164.9%	Stock	316773100
AVGO	BROADCOM INC COM	2,339 (+2.8%)	$810K (+7.8%)	0.1%	$166.22	+114.8%	Stock	11135F101
NVDA	NVIDIA CORPORATION COM	7,283 (+4.1%)	$1.358M (+4.1%)	0.1%	$103.94	+79.1%	Stock	67066G104
TSLA	TESLA INC COM	1,405 (+7.1%)	$632K (+8.3%)	0.0%	$353.22	+25.5%	Stock	88160R101
CSCO	CISCO SYS INC COM	3,122 (+1.2%)	$240K (+13.9%)	0.0%	$60.54	+21.9%	Stock	17275R102
V	VISA INC COM CL A	912 (+2.2%)	$320K (+5.0%)	0.0%	$269.91	+26.1%	Stock	92826C839
PG	PROCTER & GAMBLE CO COM	1,589 (+1.0%)	$228K (-5.8%)	0.0%	$158.72	-7.3%	Stock	742718109

Exited Positions (4)

WSM WILLIAMS SONOMA INC COM 0.4%

Value $5.768M Shares 29,509 Est. Cost $112.83 Unrealized +66.0%

— PINNACLE FINL PARTNERS INC COM 0.1%

Value $969K Shares 10,329 Est. Cost $104.55 Unrealized —

CLX CLOROX CO DEL COM 0.0%

Value $212K Shares 1,718 Est. Cost $63.64 Unrealized +70.1%

MTN VAIL RESORTS INC COM 0.0%

Value $205K Shares 1,370 Est. Cost $270.62 Unrealized -45.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WSM	WILLIAMS SONOMA INC COM	29,509	$5.768M	0.4%	$112.83	+66.0%	—	969904101
—	PINNACLE FINL PARTNERS INC COM	10,329	$969K	0.1%	$104.55	—	—	72346Q104
CLX	CLOROX CO DEL COM	1,718	$212K	0.0%	$63.64	+70.1%	—	189054109
MTN	VAIL RESORTS INC COM	1,370	$205K	0.0%	$270.62	-45.6%	—	91879Q109

Decreased Positions (23)

— FEDERAL NATL MTG ASSN PFD 8.25 SR T 5.5%

Value $80.95M (-14.7%) Shares 5,803,133 (-4.0%) Est. Cost $15.70 Unrealized —

PLTR PALANTIR TECHNOLOGIES INC CL A 3.5%

Value $51.62M (-11.8%) Shares 290,411 (-9.5%) Est. Cost $18.64 Unrealized +871.3%

MSFT MICROSOFT CORP COM 2.9%

Value $42.92M (-9.9%) Shares 88,742 (-3.5%) Est. Cost $58.83 Unrealized +751.0%

DHI D R HORTON INC COM 1.6%

Value $22.81M (-16.2%) Shares 158,358 (-1.4%) Est. Cost $81.90 Unrealized +85.6%

— FEDERAL HOME LN MTG CORP PFD 8.375 NCM 1.9%

Value $28.38M (-12.0%) Shares 1,970,502 (-4.4%) Est. Cost $15.64 Unrealized —

VZ VERIZON COMMUNICATIONS INC COM 0.9%

Value $13.7M (-20.6%) Shares 336,436 (-14.3%) Est. Cost $37.52 Unrealized +7.9%

EQIX EQUINIX INC COM 1.1%

Value $15.6M (-11.8%) Shares 20,358 (-9.8%) Est. Cost $510.45 Unrealized +53.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 2.2%

Value $32.1M (+5.7%) Shares 105,639 (-2.8%) Est. Cost $84.88 Unrealized —

TSCO TRACTOR SUPPLY CO COM 0.5%

Value $7.6M (-17.0%) Shares 151,967 (-5.6%) Est. Cost $47.71 Unrealized +12.6%

RTX RTX CORPORATION COM 2.0%

Value $29.39M (+5.0%) Shares 160,234 (-4.2%) Est. Cost $61.94 Unrealized +179.8%

HSY HERSHEY CO COM 0.7%

Value $10.47M (-6.9%) Shares 57,533 (-4.3%) Est. Cost $91.89 Unrealized +98.2%

FXI ISHARES CHINA LARGE-CAP ETF 0.3%

Value $4.318M (-13.3%) Shares 112,771 (-6.8%) Est. Cost $31.92 Unrealized —

SO SOUTHERN CO COM 0.1%

Value $1.372M (-13.5%) Shares 15,735 (-6.0%) Est. Cost $38.42 Unrealized +136.6%

SCHD SCHWAB US DIVIDEND EQUITY ETF 0.4%

Value $6.53M (-2.9%) Shares 238,062 (-3.3%) Est. Cost $41.56 Unrealized —

RSP INVESCO S&P 500 EQUAL WEIGHT ETF 0.5%

Value $6.859M (-1.2%) Shares 35,807 (-2.2%) Est. Cost $154.95 Unrealized —

EHC ENCOMPASS HEALTH CORP COM 0.0%

Value $232K (-21.0%) Shares 2,184 (-5.4%) Est. Cost $72.25 Unrealized +60.1%

CGDV CAPITAL GROUP DIVIDEND VALUE ETF 0.1%

Value $833K (-6.3%) Shares 19,097 (-9.7%) Est. Cost $20.41 Unrealized —

CGGR CAPITAL GROUP GROWTH ETF 0.2%

Value $2.682M (-1.3%) Shares 60,318 (-2.5%) Est. Cost $19.74 Unrealized —

DVY ISHARES SELECT DIVIDEND ETF 0.0%

Value $718K (-3.1%) Shares 5,085 (-2.4%) Est. Cost $96.79 Unrealized —

DUSA DAVIS SELECT U.S. EQUITY ETF 0.1%

Value $1.354M (-1.6%) Shares 26,489 (-7.8%) Est. Cost $32.98 Unrealized —

VOO VANGUARD S&P 500 ETF 0.1%

Value $1.335M (-0.8%) Shares 2,129 (-3.1%) Est. Cost $382.74 Unrealized —

SPY SPDR S&P 500 ETF TRUST 0.2%

Value $2.34M (+0.3%) Shares 3,432 (-2.0%) Est. Cost $547.85 Unrealized —

MDY SPDR S&P MIDCAP 400 ETF TRUST 0.0%

Value $255K (-0.4%) Shares 422 (-1.6%) Est. Cost $445.61 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	FEDERAL NATL MTG ASSN PFD 8.25 SR T	5,803,133 (-4.0%)	$80.95M (-14.7%)	5.5%	$15.70	—	Preferred	313586737
PLTR	PALANTIR TECHNOLOGIES INC CL A	290,411 (-9.5%)	$51.62M (-11.8%)	3.5%	$18.64	+871.3%	Stock	69608A108
MSFT	MICROSOFT CORP COM	88,742 (-3.5%)	$42.92M (-9.9%)	2.9%	$58.83	+751.0%	Stock	594918104
DHI	D R HORTON INC COM	158,358 (-1.4%)	$22.81M (-16.2%)	1.6%	$81.90	+85.6%	Stock	23331A109
—	FEDERAL HOME LN MTG CORP PFD 8.375 NCM	1,970,502 (-4.4%)	$28.38M (-12.0%)	1.9%	$15.64	—	Preferred	313400624
VZ	VERIZON COMMUNICATIONS INC COM	336,436 (-14.3%)	$13.7M (-20.6%)	0.9%	$37.52	+7.9%	Stock	92343V104
EQIX	EQUINIX INC COM	20,358 (-9.8%)	$15.6M (-11.8%)	1.1%	$510.45	+53.0%	REIT	29444U700
TSM	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS	105,639 (-2.8%)	$32.1M (+5.7%)	2.2%	$84.88	—	ADR	874039100
TSCO	TRACTOR SUPPLY CO COM	151,967 (-5.6%)	$7.6M (-17.0%)	0.5%	$47.71	+12.6%	Stock	892356106
RTX	RTX CORPORATION COM	160,234 (-4.2%)	$29.39M (+5.0%)	2.0%	$61.94	+179.8%	Stock	75513E101
HSY	HERSHEY CO COM	57,533 (-4.3%)	$10.47M (-6.9%)	0.7%	$91.89	+98.2%	Stock	427866108
FXI	ISHARES CHINA LARGE-CAP ETF	112,771 (-6.8%)	$4.318M (-13.3%)	0.3%	$31.92	—	ETF	464287184
SO	SOUTHERN CO COM	15,735 (-6.0%)	$1.372M (-13.5%)	0.1%	$38.42	+136.6%	Stock	842587107
SCHD	SCHWAB US DIVIDEND EQUITY ETF	238,062 (-3.3%)	$6.53M (-2.9%)	0.4%	$41.56	—	ETF	808524797
RSP	INVESCO S&P 500 EQUAL WEIGHT ETF	35,807 (-2.2%)	$6.859M (-1.2%)	0.5%	$154.95	—	ETF	46137V357
EHC	ENCOMPASS HEALTH CORP COM	2,184 (-5.4%)	$232K (-21.0%)	0.0%	$72.25	+60.1%	Stock	29261A100
CGDV	CAPITAL GROUP DIVIDEND VALUE ETF	19,097 (-9.7%)	$833K (-6.3%)	0.1%	$20.41	—	ETF	14020W106
CGGR	CAPITAL GROUP GROWTH ETF	60,318 (-2.5%)	$2.682M (-1.3%)	0.2%	$19.74	—	ETF	14020G101
DVY	ISHARES SELECT DIVIDEND ETF	5,085 (-2.4%)	$718K (-3.1%)	0.0%	$96.79	—	ETF	464287168
DUSA	DAVIS SELECT U.S. EQUITY ETF	26,489 (-7.8%)	$1.354M (-1.6%)	0.1%	$32.98	—	ETF	23908L207
VOO	VANGUARD S&P 500 ETF	2,129 (-3.1%)	$1.335M (-0.8%)	0.1%	$382.74	—	ETF	922908363
SPY	SPDR S&P 500 ETF TRUST	3,432 (-2.0%)	$2.34M (+0.3%)	0.2%	$547.85	—	ETF	78462F103
MDY	SPDR S&P MIDCAP 400 ETF TRUST	422 (-1.6%)	$255K (-0.4%)	0.0%	$445.61	—	ETF	78467Y107

Unchanged Positions (60)

MRK MERCK & CO INC COM 2.4%

Value $34.56M Shares 328,315 Est. Cost $71.56 Unrealized +30.3%

— FEDERAL HOME LN MTG CORP 6.02 NON CM PFD 2.6%

Value $38.25M Shares 2,988,259 Est. Cost $14.46 Unrealized —

— FEDERAL NATL MTG ASSN PFD8.25SER S 2.3%

Value $33.29M Shares 2,185,809 Est. Cost $16.60 Unrealized —

JNJ JOHNSON & JOHNSON COM 2.0%

Value $28.89M Shares 139,610 Est. Cost $83.96 Unrealized +134.7%

GILD GILEAD SCIENCES INC COM 2.1%

Value $30.02M Shares 244,611 Est. Cost $54.38 Unrealized +122.3%

GLW CORNING INC COM 2.9%

Value $41.68M Shares 476,032 Est. Cost $17.26 Unrealized +398.1%

WMB WILLIAMS COS INC COM 3.2%

Value $46.63M Shares 775,702 Est. Cost $19.01 Unrealized +216.0%

GEV GE VERNOVA INC COM 2.0%

Value $29.77M Shares 45,556 Est. Cost $158.10 Unrealized +285.2%

BAC BANK AMERICA CORP COM 2.0%

Value $29.52M Shares 536,739 Est. Cost $13.45 Unrealized +291.5%

GNRC GENERAC HLDGS INC COM 0.5%

Value $7.096M Shares 52,032 Est. Cost $102.06 Unrealized +58.1%

NEE NEXTERA ENERGY INC COM 1.5%

Value $21.52M Shares 268,049 Est. Cost $67.72 Unrealized +21.8%

CEG CONSTELLATION ENERGY CORP COM 1.3%

Value $19.53M Shares 55,273 Est. Cost $263.84 Unrealized +37.7%

— FEDERAL NATL MTG ASSN PFD O VAR RATE 0.8%

Value $11.66M Shares 436,002 Est. Cost $29.80 Unrealized —

AMZN AMAZON COM INC COM 1.4%

Value $20.7M Shares 89,680 Est. Cost $126.66 Unrealized +80.6%

AAPL APPLE INC COM 1.4%

Value $20.34M Shares 74,834 Est. Cost $81.29 Unrealized +230.1%

— FEDERAL NATL MTG ASSN PFD CV 5.375 0.6%

Value $9.009M Shares 182 Est. Cost $55000.00 Unrealized —

GE GE AEROSPACE COM NEW 2.1%

Value $31.31M Shares 101,641 Est. Cost $73.01 Unrealized +312.0%

COST COSTCO WHOLESALE CORPORATION COM 0.6%

Value $9.186M Shares 10,652 Est. Cost $384.41 Unrealized +135.6%

— FEDERAL HOME LN MTG CORP PFD PERP VAR 0.4%

Value $5.219M Shares 249,341 Est. Cost $23.74 Unrealized —

MCHI ISHARES MSCI CHINA ETF 0.5%

Value $7.635M Shares 127,110 Est. Cost $51.01 Unrealized —

CVX CHEVRON CORP NEW COM 2.0%

Value $29.21M Shares 191,654 Est. Cost $87.59 Unrealized +72.9%

— FEDERAL HOME LN MTG CORP PFD VAR RATE 0.3%

Value $4.533M Shares 238,600 Est. Cost $20.98 Unrealized —

MU MICRON TECHNOLOGY INC COM 0.0%

Value $571K Shares 2,000 Est. Cost $93.22 Unrealized +146.0%

HCA HCA HEALTHCARE INC COM 0.1%

Value $2.118M Shares 4,537 Est. Cost $248.41 Unrealized +86.7%

VRSN VERISIGN INC COM 0.1%

Value $1.01M Shares 4,156 Est. Cost $216.20 Unrealized +16.0%

LLY ELI LILLY & CO COM 0.0%

Value $409K Shares 381 Est. Cost $533.31 Unrealized +79.2%

META META PLATFORMS INC CL A 0.1%

Value $941K Shares 1,426 Est. Cost $502.58 Unrealized +32.8%

BRK/B BERKSHIRE HATHAWAY INC DEL CL B NEW 2.7%

Value $39.63M Shares 78,841 Est. Cost $220.09 Unrealized +126.1%

COPX GLOBAL X COPPER MINERS ETF 0.0%

Value $538K Shares 7,500 Est. Cost $45.11 Unrealized —

WMT WALMART INC COM 0.1%

Value $998K Shares 8,954 Est. Cost $61.98 Unrealized +73.0%

IVV ISHARES CORE S&P 500 ETF 0.2%

Value $2.94M Shares 4,293 Est. Cost $378.02 Unrealized —

AMAT APPLIED MATLS INC COM 0.0%

Value $274K Shares 1,067 Est. Cost $180.78 Unrealized +32.5%

MSGS MADISON SQUARE GRDN SPRT CORP CL A 0.0%

Value $414K Shares 1,600 Est. Cost $170.27 Unrealized +33.7%

XOM EXXON MOBIL CORP COM 0.0%

Value $642K Shares 5,335 Est. Cost $55.86 Unrealized +106.8%

— FEDERAL NATL MTG ASSN PFD7.625SER R 0.0%

Value $517K Shares 37,800 Est. Cost $14.85 Unrealized —

CAT CATERPILLAR INC COM 0.0%

Value $241K Shares 420 Est. Cost $425.39 Unrealized +30.6%

MO ALTRIA GROUP INC COM 0.0%

Value $205K Shares 3,557 Est. Cost $51.03 Unrealized +16.3%

JPM JPMORGAN CHASE & CO. COM 0.1%

Value $948K Shares 2,942 Est. Cost $120.31 Unrealized +157.3%

FHN FIRST HORIZON CORPORATION COM 0.0%

Value $449K Shares 18,803 Est. Cost $14.16 Unrealized +56.7%

GS GOLDMAN SACHS GROUP INC COM 0.0%

Value $236K Shares 268 Est. Cost $734.84 Unrealized +10.7%

LOW LOWES COS INC COM 0.0%

Value $482K Shares 2,000 Est. Cost $111.95 Unrealized +114.2%

— FEDERAL NATL MTG ASSN PFD L 5.125 0.0%

Value $423K Shares 17,500 Est. Cost $25.25 Unrealized —

RF REGIONS FINANCIAL CORP NEW COM 0.0%

Value $576K Shares 21,245 Est. Cost $20.93 Unrealized +21.2%

ET ENERGY TRANSFER L P COM UT LTD PTN 0.0%

Value $408K Shares 24,720 Est. Cost $18.86 Unrealized —

— FEDERAL NATL MTG ASSN PFD 5.10 E 0.0%

Value $248K Shares 11,000 Est. Cost $24.00 Unrealized —

VOOG VANGUARD S&P 500 GROWTH ETF 0.1%

Value $739K Shares 1,663 Est. Cost $345.29 Unrealized —

— FEDERAL NATL MTG ASSN PFD6.75 SER Q 0.0%

Value $133K Shares 10,000 Est. Cost $14.75 Unrealized —

MOAT VANECK MORNINGSTAR WIDE MOAT ETF 0.0%

Value $288K Shares 2,786 Est. Cost $96.95 Unrealized —

— FEDERAL NATL MTG ASSN PFD G VAR RATE 0.0%

Value $126K Shares 6,200 Est. Cost $22.25 Unrealized —

VOOV VANGUARD S&P 500 VALUE ETF 0.0%

Value $366K Shares 1,789 Est. Cost $190.72 Unrealized —

— FEDERAL NATL MTG ASSN PFD M 4.75 0.0%

Value $54,225 Shares 2,500 Est. Cost $25.50 Unrealized —

QUAL ISHARES MSCI USA QUALITY FACTOR ETF 0.0%

Value $451K Shares 2,270 Est. Cost $179.52 Unrealized —

NHI NATIONAL HEALTH INVS INC COM 0.0%

Value $209K Shares 2,741 Est. Cost $79.11 Unrealized —

PRF INVESCO RAFI US 1000 ETF 0.0%

Value $235K Shares 5,000 Est. Cost $40.63 Unrealized —

MCD MCDONALDS CORP COM 0.1%

Value $853K Shares 2,792 Est. Cost $120.87 Unrealized +152.4%

CGUS CAPITAL GROUP CORE EQUITY ETF 0.0%

Value $303K Shares 7,523 Est. Cost $25.09 Unrealized —

VIG VANGUARD DIVIDEND APPRECIATION ETF 0.0%

Value $205K Shares 933 Est. Cost $215.79 Unrealized —

NXE NEXGEN ENERGY LTD COM 0.0%

Value $129K Shares 14,000 Est. Cost $7.66 Unrealized +15.3%

BRK/A BERKSHIRE HATHAWAY INC DEL CL A 0.1%

Value $1.51M Shares 2 Est. Cost $485492.47 Unrealized +53.7%

CGXU CAPITAL GROUP INTERNATIONAL FOCUS EQUITY ETF 0.0%

Value $373K Shares 12,612 Est. Cost $18.79 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MRK	MERCK & CO INC COM	328,315	$34.56M	2.4%	$71.56	+30.3%	Stock	58933Y105
—	FEDERAL HOME LN MTG CORP 6.02 NON CM PFD	2,988,259	$38.25M	2.6%	$14.46	—	Preferred	313400657
—	FEDERAL NATL MTG ASSN PFD8.25SER S	2,185,809	$33.29M	2.3%	$16.60	—	Preferred	313586752
JNJ	JOHNSON & JOHNSON COM	139,610	$28.89M	2.0%	$83.96	+134.7%	Stock	478160104
GILD	GILEAD SCIENCES INC COM	244,611	$30.02M	2.1%	$54.38	+122.3%	Stock	375558103
GLW	CORNING INC COM	476,032	$41.68M	2.9%	$17.26	+398.1%	Stock	219350105
WMB	WILLIAMS COS INC COM	775,702	$46.63M	3.2%	$19.01	+216.0%	Stock	969457100
GEV	GE VERNOVA INC COM	45,556	$29.77M	2.0%	$158.10	+285.2%	Stock	36828A101
BAC	BANK AMERICA CORP COM	536,739	$29.52M	2.0%	$13.45	+291.5%	Stock	060505104
GNRC	GENERAC HLDGS INC COM	52,032	$7.096M	0.5%	$102.06	+58.1%	Stock	368736104
NEE	NEXTERA ENERGY INC COM	268,049	$21.52M	1.5%	$67.72	+21.8%	Stock	65339F101
CEG	CONSTELLATION ENERGY CORP COM	55,273	$19.53M	1.3%	$263.84	+37.7%	Stock	21037T109
—	FEDERAL NATL MTG ASSN PFD O VAR RATE	436,002	$11.66M	0.8%	$29.80	—	Preferred	313586794
AMZN	AMAZON COM INC COM	89,680	$20.7M	1.4%	$126.66	+80.6%	Stock	023135106
AAPL	APPLE INC COM	74,834	$20.34M	1.4%	$81.29	+230.1%	Stock	037833100
—	FEDERAL NATL MTG ASSN PFD CV 5.375	182	$9.009M	0.6%	$55000.00	—	Convertible Preferred	313586810
GE	GE AEROSPACE COM NEW	101,641	$31.31M	2.1%	$73.01	+312.0%	Stock	369604301
COST	COSTCO WHOLESALE CORPORATION COM	10,652	$9.186M	0.6%	$384.41	+135.6%	Stock	22160K105
—	FEDERAL HOME LN MTG CORP PFD PERP VAR	249,341	$5.219M	0.4%	$23.74	—	Preferred	313400715
MCHI	ISHARES MSCI CHINA ETF	127,110	$7.635M	0.5%	$51.01	—	ETF	46429B671
CVX	CHEVRON CORP NEW COM	191,654	$29.21M	2.0%	$87.59	+72.9%	Stock	166764100
—	FEDERAL HOME LN MTG CORP PFD VAR RATE	238,600	$4.533M	0.3%	$20.98	—	Preferred	313400780
MU	MICRON TECHNOLOGY INC COM	2,000	$571K	0.0%	$93.22	+146.0%	Stock	595112103
HCA	HCA HEALTHCARE INC COM	4,537	$2.118M	0.1%	$248.41	+86.7%	Stock	40412C101
VRSN	VERISIGN INC COM	4,156	$1.01M	0.1%	$216.20	+16.0%	Stock	92343E102
LLY	ELI LILLY & CO COM	381	$409K	0.0%	$533.31	+79.2%	Stock	532457108
META	META PLATFORMS INC CL A	1,426	$941K	0.1%	$502.58	+32.8%	Stock	30303M102
BRK/B	BERKSHIRE HATHAWAY INC DEL CL B NEW	78,841	$39.63M	2.7%	$220.09	+126.1%	Stock	084670702
COPX	GLOBAL X COPPER MINERS ETF	7,500	$538K	0.0%	$45.11	—	ETF	37954Y830
WMT	WALMART INC COM	8,954	$998K	0.1%	$61.98	+73.0%	Stock	931142103
IVV	ISHARES CORE S&P 500 ETF	4,293	$2.94M	0.2%	$378.02	—	ETF	464287200
AMAT	APPLIED MATLS INC COM	1,067	$274K	0.0%	$180.78	+32.5%	Stock	038222105
MSGS	MADISON SQUARE GRDN SPRT CORP CL A	1,600	$414K	0.0%	$170.27	+33.7%	Stock	55825T103
XOM	EXXON MOBIL CORP COM	5,335	$642K	0.0%	$55.86	+106.8%	Stock	30231G102
—	FEDERAL NATL MTG ASSN PFD7.625SER R	37,800	$517K	0.0%	$14.85	—	Preferred	313586760
CAT	CATERPILLAR INC COM	420	$241K	0.0%	$425.39	+30.6%	Stock	149123101
MO	ALTRIA GROUP INC COM	3,557	$205K	0.0%	$51.03	+16.3%	Stock	02209S103
JPM	JPMORGAN CHASE & CO. COM	2,942	$948K	0.1%	$120.31	+157.3%	Stock	46625H100
FHN	FIRST HORIZON CORPORATION COM	18,803	$449K	0.0%	$14.16	+56.7%	Stock	320517105
GS	GOLDMAN SACHS GROUP INC COM	268	$236K	0.0%	$734.84	+10.7%	Stock	38141G104
LOW	LOWES COS INC COM	2,000	$482K	0.0%	$111.95	+114.2%	Stock	548661107
—	FEDERAL NATL MTG ASSN PFD L 5.125	17,500	$423K	0.0%	$25.25	—	Preferred	313586844
RF	REGIONS FINANCIAL CORP NEW COM	21,245	$576K	0.0%	$20.93	+21.2%	Stock	7591EP100
ET	ENERGY TRANSFER L P COM UT LTD PTN	24,720	$408K	0.0%	$18.86	—	Stock	29273V100
—	FEDERAL NATL MTG ASSN PFD 5.10 E	11,000	$248K	0.0%	$24.00	—	Preferred	313586604
VOOG	VANGUARD S&P 500 GROWTH ETF	1,663	$739K	0.1%	$345.29	—	ETF	921932505
—	FEDERAL NATL MTG ASSN PFD6.75 SER Q	10,000	$133K	0.0%	$14.75	—	Preferred	313586778
MOAT	VANECK MORNINGSTAR WIDE MOAT ETF	2,786	$288K	0.0%	$96.95	—	ETF	92189F643
—	FEDERAL NATL MTG ASSN PFD G VAR RATE	6,200	$126K	0.0%	$22.25	—	Preferred	313586802
VOOV	VANGUARD S&P 500 VALUE ETF	1,789	$366K	0.0%	$190.72	—	ETF	921932703
—	FEDERAL NATL MTG ASSN PFD M 4.75	2,500	$54,225	0.0%	$25.50	—	Preferred	313586836
QUAL	ISHARES MSCI USA QUALITY FACTOR ETF	2,270	$451K	0.0%	$179.52	—	ETF	46432F339
NHI	NATIONAL HEALTH INVS INC COM	2,741	$209K	0.0%	$79.11	—	REIT	63633D104
PRF	INVESCO RAFI US 1000 ETF	5,000	$235K	0.0%	$40.63	—	ETF	46137V613
MCD	MCDONALDS CORP COM	2,792	$853K	0.1%	$120.87	+152.4%	Stock	580135101
CGUS	CAPITAL GROUP CORE EQUITY ETF	7,523	$303K	0.0%	$25.09	—	ETF	14020V108
VIG	VANGUARD DIVIDEND APPRECIATION ETF	933	$205K	0.0%	$215.79	—	ETF	921908844
NXE	NEXGEN ENERGY LTD COM	14,000	$129K	0.0%	$7.66	+15.3%	Stock	65340P106
BRK/A	BERKSHIRE HATHAWAY INC DEL CL A	2	$1.51M	0.1%	$485492.47	+53.7%	Stock	084670108
CGXU	CAPITAL GROUP INTERNATIONAL FOCUS EQUITY ETF	12,612	$373K	0.0%	$18.79	—	ETF	14019W109