AAF Wealth Management, LLC Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	1,238	$760	0.3%	$614.24	—	UNIT SER 1	46090E103
IEMG	ISHARES INC	5,731	$385	0.2%	$67.23	—	CORE MSCI EMKT	46434G103
CGGR	CAPITAL GROUP GROWTH ETF	8,033	$357	0.2%	$44.47	—	SHS CREATION UNI	14020G101
TJX	TJX COS INC NEW	1,855	$285	0.1%	$147.70	0.0%	COM	872540109
UNP	UNION PAC CORP	1,109	$256	0.1%	$227.32	0.0%	COM	907818108
VB	VANGUARD INDEX FDS	934	$241	0.1%	$257.89	—	SMALL CP ETF	922908751
PG	PROCTER AND GAMBLE CO	1,635	$234	0.1%	$147.17	0.0%	COM	742718109
JGRO	J P MORGAN EXCHANGE TRADED F	2,505	$232	0.1%	$92.80	—	ACTIVE GROWTH	46654Q609
V	VISA INC	572	$201	0.1%	$340.38	0.0%	COM CL A	92826C839

Increased Positions (20)

VYMI VANGUARD WHITEHALL FDS 9.1%

Value ($000) $21,663 (+12.4%) Shares 240,698 (+5.8%) Est. Cost $70.76 Unrealized —

QQQM INVESCO EXCH TRADED FD TR II 11.2%

Value ($000) $26,521 (+8.8%) Shares 104,860 (+6.3%) Est. Cost $150.52 Unrealized —

IDEV ISHARES TR 14.6%

Value ($000) $34,614 (+6.6%) Shares 419,662 (+3.6%) Est. Cost $62.78 Unrealized —

VTV VANGUARD INDEX FDS 14.9%

Value ($000) $35,229 (+5.5%) Shares 184,455 (+3.0%) Est. Cost $143.48 Unrealized —

GOOG ALPHABET INC 1.9%

Value ($000) $4,604 (+37.5%) Shares 14,671 (+6.7%) Est. Cost $125.59 Unrealized +128.0%

SPY SPDR S&P 500 ETF TR 0.7%

Value ($000) $1,695 (+64.7%) Shares 2,485 (+60.8%) Est. Cost $548.06 Unrealized —

GOOGL ALPHABET INC 0.6%

Value ($000) $1,499 (+63.1%) Shares 4,790 (+26.7%) Est. Cost $175.19 Unrealized +63.0%

AAPL APPLE INC 2.4%

Value ($000) $5,747 (+11.1%) Shares 21,138 (+4.1%) Est. Cost $149.56 Unrealized +79.4%

MSFT MICROSOFT CORP 0.7%

Value ($000) $1,748 (+40.9%) Shares 3,615 (+50.9%) Est. Cost $392.14 Unrealized +27.7%

IJH ISHARES TR 5.3%

Value ($000) $12,622 (+4.1%) Shares 191,249 (+2.9%) Est. Cost $90.78 Unrealized —

NVDA NVIDIA CORPORATION 0.4%

Value ($000) $881 (+58.8%) Shares 4,726 (+58.9%) Est. Cost $148.17 Unrealized +25.6%

AMZN AMAZON COM INC 0.5%

Value ($000) $1,143 (+31.5%) Shares 4,954 (+25.1%) Est. Cost $163.45 Unrealized +40.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.4%

Value ($000) $897 (+32.7%) Shares 1,785 (+32.7%) Est. Cost $390.36 Unrealized +27.5%

JNJ JOHNSON & JOHNSON 0.2%

Value ($000) $379 (+42.0%) Shares 1,833 (+27.3%) Est. Cost $153.77 Unrealized +28.1%

VUG VANGUARD INDEX FDS 0.5%

Value ($000) $1,100 (+10.0%) Shares 2,255 (+8.2%) Est. Cost $289.71 Unrealized —

FELC FIDELITY COVINGTON TRUST 0.9%

Value ($000) $2,077 (+4.4%) Shares 54,408 (+1.9%) Est. Cost $26.80 Unrealized —

RTX RTX CORPORATION 0.1%

Value ($000) $346 (+28.0%) Shares 1,887 (+16.8%) Est. Cost $120.20 Unrealized +44.2%

META META PLATFORMS INC 0.7%

Value ($000) $1,645 (-3.3%) Shares 2,492 (+7.6%) Est. Cost $334.09 Unrealized +99.7%

SCHF SCHWAB STRATEGIC TR 0.3%

Value ($000) $690 (+4.9%) Shares 28,705 (+1.6%) Est. Cost $29.08 Unrealized —

AVGO BROADCOM INC 0.1%

Value ($000) $233 (+6.2%) Shares 672 (+1.2%) Est. Cost $217.60 Unrealized +64.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VYMI	VANGUARD WHITEHALL FDS	240,698 (+5.8%)	$21,663 (+12.4%)	9.1%	$70.76	—	INTL HIGH ETF	921946794
QQQM	INVESCO EXCH TRADED FD TR II	104,860 (+6.3%)	$26,521 (+8.8%)	11.2%	$150.52	—	NASDAQ 100 ETF	46138G649
IDEV	ISHARES TR	419,662 (+3.6%)	$34,614 (+6.6%)	14.6%	$62.78	—	CORE MSCI INTL	46435G326
VTV	VANGUARD INDEX FDS	184,455 (+3.0%)	$35,229 (+5.5%)	14.9%	$143.48	—	VALUE ETF	922908744
GOOG	ALPHABET INC	14,671 (+6.7%)	$4,604 (+37.5%)	1.9%	$125.59	+128.0%	CAP STK CL C	02079K107
SPY	SPDR S&P 500 ETF TR	2,485 (+60.8%)	$1,695 (+64.7%)	0.7%	$548.06	—	TR UNIT	78462F103
GOOGL	ALPHABET INC	4,790 (+26.7%)	$1,499 (+63.1%)	0.6%	$175.19	+63.0%	CAP STK CL A	02079K305
AAPL	APPLE INC	21,138 (+4.1%)	$5,747 (+11.1%)	2.4%	$149.56	+79.4%	COM	037833100
MSFT	MICROSOFT CORP	3,615 (+50.9%)	$1,748 (+40.9%)	0.7%	$392.14	+27.7%	COM	594918104
IJH	ISHARES TR	191,249 (+2.9%)	$12,622 (+4.1%)	5.3%	$90.78	—	CORE S&P MCP ETF	464287507
NVDA	NVIDIA CORPORATION	4,726 (+58.9%)	$881 (+58.8%)	0.4%	$148.17	+25.6%	COM	67066G104
AMZN	AMAZON COM INC	4,954 (+25.1%)	$1,143 (+31.5%)	0.5%	$163.45	+40.0%	COM	023135106
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,785 (+32.7%)	$897 (+32.7%)	0.4%	$390.36	+27.5%	CL B NEW	084670702
JNJ	JOHNSON & JOHNSON	1,833 (+27.3%)	$379 (+42.0%)	0.2%	$153.77	+28.1%	COM	478160104
VUG	VANGUARD INDEX FDS	2,255 (+8.2%)	$1,100 (+10.0%)	0.5%	$289.71	—	GROWTH ETF	922908736
FELC	FIDELITY COVINGTON TRUST	54,408 (+1.9%)	$2,077 (+4.4%)	0.9%	$26.80	—	ENHANCED LARGE	316092113
RTX	RTX CORPORATION	1,887 (+16.8%)	$346 (+28.0%)	0.1%	$120.20	+44.2%	COM	75513E101
META	META PLATFORMS INC	2,492 (+7.6%)	$1,645 (-3.3%)	0.7%	$334.09	+99.7%	CL A	30303M102
SCHF	SCHWAB STRATEGIC TR	28,705 (+1.6%)	$690 (+4.9%)	0.3%	$29.08	—	INTL EQTY ETF	808524805
AVGO	BROADCOM INC	672 (+1.2%)	$233 (+6.2%)	0.1%	$217.60	+64.1%	COM	11135F101

Exited Positions (2)

NFLX NETFLIX INC 0.2%

Value ($000) $433 Shares 361 Est. Cost $122.05 Unrealized -11.7%

HON HONEYWELL INTL INC 0.1%

Value ($000) $228 Shares 1,084 Est. Cost $179.96 Unrealized +8.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC	361	$433	0.2%	$122.05	-11.7%	—	64110L106
HON	HONEYWELL INTL INC	1,084	$228	0.1%	$179.96	+8.4%	—	438516106

Decreased Positions (10)

IVV ISHARES TR 24.7%

Value ($000) $58,581 (+1.0%) Shares 85,528 (-1.3%) Est. Cost $424.50 Unrealized —

GLD SPDR GOLD TR 0.1%

Value ($000) $285 (-41.7%) Shares 719 (-47.7%) Est. Cost $260.72 Unrealized —

IJR ISHARES TR 0.6%

Value ($000) $1,350 (-7.8%) Shares 11,237 (-8.9%) Est. Cost $95.84 Unrealized —

VO VANGUARD INDEX FDS 1.1%

Value ($000) $2,601 (-4.2%) Shares 8,963 (-3.0%) Est. Cost $208.79 Unrealized —

IWR ISHARES TR 0.2%

Value ($000) $581 (-3.7%) Shares 6,033 (-3.4%) Est. Cost $75.98 Unrealized —

PID INVESCO EXCHANGE TRADED FD T 0.7%

Value ($000) $1,665 (-1.1%) Shares 75,681 (-4.4%) Est. Cost $16.72 Unrealized —

IWM ISHARES TR 0.3%

Value ($000) $657 (-2.5%) Shares 2,669 (-4.2%) Est. Cost $196.10 Unrealized —

IWB ISHARES TR 0.3%

Value ($000) $629 (-2.3%) Shares 1,684 (-4.4%) Est. Cost $228.28 Unrealized —

IWD ISHARES TR 0.3%

Value ($000) $696 (+2.2%) Shares 3,311 (-1.1%) Est. Cost $152.69 Unrealized —

VOO VANGUARD INDEX FDS 0.2%

Value ($000) $533 (-1.9%) Shares 850 (-4.2%) Est. Cost $500.13 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	85,528 (-1.3%)	$58,581 (+1.0%)	24.7%	$424.50	—	CORE S&P500 ETF	464287200
GLD	SPDR GOLD TR	719 (-47.7%)	$285 (-41.7%)	0.1%	$260.72	—	GOLD SHS	78463V107
IJR	ISHARES TR	11,237 (-8.9%)	$1,350 (-7.8%)	0.6%	$95.84	—	CORE S&P SCP ETF	464287804
VO	VANGUARD INDEX FDS	8,963 (-3.0%)	$2,601 (-4.2%)	1.1%	$208.79	—	MID CAP ETF	922908629
IWR	ISHARES TR	6,033 (-3.4%)	$581 (-3.7%)	0.2%	$75.98	—	RUS MID CAP ETF	464287499
PID	INVESCO EXCHANGE TRADED FD T	75,681 (-4.4%)	$1,665 (-1.1%)	0.7%	$16.72	—	INTL DIVI ACHI	46137V548
IWM	ISHARES TR	2,669 (-4.2%)	$657 (-2.5%)	0.3%	$196.10	—	RUSSELL 2000 ETF	464287655
IWB	ISHARES TR	1,684 (-4.4%)	$629 (-2.3%)	0.3%	$228.28	—	RUS 1000 ETF	464287622
IWD	ISHARES TR	3,311 (-1.1%)	$696 (+2.2%)	0.3%	$152.69	—	RUS 1000 VAL ETF	464287598
VOO	VANGUARD INDEX FDS	850 (-4.2%)	$533 (-1.9%)	0.2%	$500.13	—	S&P 500 ETF SHS	922908363

Unchanged Positions (11)

IEFA ISHARES TR 2.1%

Value ($000) $5,040 Shares 56,339 Est. Cost $62.90 Unrealized —

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.3%

Value ($000) $704 Shares 2,316 Est. Cost $173.81 Unrealized —

IXUS ISHARES TR 0.2%

Value ($000) $493 Shares 5,823 Est. Cost $68.08 Unrealized —

VTI VANGUARD INDEX FDS 0.2%

Value ($000) $420 Shares 1,252 Est. Cost $276.45 Unrealized —

IWF ISHARES TR 0.7%

Value ($000) $1,682 Shares 3,553 Est. Cost $274.35 Unrealized —

ACRV ACRIVON THERAPEUTICS INC 0.0%

Value ($000) $26 Shares 10,678 Est. Cost $1.41 Unrealized +54.6%

USMV ISHARES TR 0.4%

Value ($000) $995 Shares 10,564 Est. Cost $93.87 Unrealized —

VV VANGUARD INDEX FDS 0.1%

Value ($000) $248 Shares 789 Est. Cost $239.76 Unrealized —

JMTG J P MORGAN EXCHANGE TRADED F 0.3%

Value ($000) $660 Shares 12,926 Est. Cost $50.21 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $267 Shares 4,960 Est. Cost $43.86 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 0.3%

Value ($000) $755 Shares 1 Est. Cost $471172.90 Unrealized +58.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IEFA	ISHARES TR	56,339	$5,040	2.1%	$62.90	—	CORE MSCI EAFE	46432F842
TSM	TAIWAN SEMICONDUCTOR MFG LTD	2,316	$704	0.3%	$173.81	—	SPONSORED ADS	874039100
IXUS	ISHARES TR	5,823	$493	0.2%	$68.08	—	CORE MSCI TOTAL	46432F834
VTI	VANGUARD INDEX FDS	1,252	$420	0.2%	$276.45	—	TOTAL STK MKT	922908769
IWF	ISHARES TR	3,553	$1,682	0.7%	$274.35	—	RUS 1000 GRW ETF	464287614
ACRV	ACRIVON THERAPEUTICS INC	10,678	$26	0.0%	$1.41	+54.6%	COMMON STOCK	004890109
USMV	ISHARES TR	10,564	$995	0.4%	$93.87	—	MSCI USA MIN VOL	46429B697
VV	VANGUARD INDEX FDS	789	$248	0.1%	$239.76	—	LARGE CAP ETF	922908637
JMTG	J P MORGAN EXCHANGE TRADED F	12,926	$660	0.3%	$50.21	—	MORTGAGE BACKED	46654Q575
VWO	VANGUARD INTL EQUITY INDEX F	4,960	$267	0.1%	$43.86	—	FTSE EMR MKT ETF	922042858
BRK/A	BERKSHIRE HATHAWAY INC DEL	1	$755	0.3%	$471172.90	+58.4%	CL A	084670108