Praetorian Wealth Management, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IBDX	IBDX-ISHARES IBONDS DEC 2032 TERM CORPORATE ETF	86,366	$2,205	0.4%	$25.53	—	ETF	46436E312
SPY	SPDR S&P 500 ETF	2,102	$1,433	0.3%	$681.92	—	ETF	78462F103
IBMT	ISHARES IBONDS DEC 2031 TERM MUNI BOND ETF	47,639	$1,236	0.2%	$25.95	—	ETF	46438G356
IWB	ISHARES RUSSELL 1000 ETF	3,285	$1,227	0.2%	$373.44	—	ETF	464287622
IWR	ISHARES TR RUSSELL MIDCAP INDEX FD	4,500	$433	0.1%	$96.27	—	ETF	464287499
IWM	ISHARES RUSSELL 2000 ETF	1,502	$370	0.1%	$246.16	—	ETF	464287655
EFA	ISHARES MSCI EAFE ETF	3,700	$355	0.1%	$96.03	—	ETF	464287465
IWD	ISHARES RUSSELL 1000 VALUE ETF	1,425	$300	0.1%	$210.36	—	ETF	464287598
EEM	ISHARES MSCI EMERGING MARKETS ETF	4,920	$269	0.1%	$54.71	—	ETF	464287234
AVGO	BROADCOM INC COM	653	$226	0.0%	$357.00	0.0%	Stock	11135F101
LLY	ELI LILLY & CO COM	205	$220	0.0%	$955.55	0.0%	Stock	532457108
META	META PLATFORMS INC CL A	321	$212	0.0%	$667.32	0.0%	Stock	30303M102

Increased Positions (22)

MGV VANGUARD MEGA CAP VALUE ETF 9.8%

Value ($000) $49,308 (+6.5%) Shares 349,302 (+3.9%) Est. Cost $131.94 Unrealized —

VPU VPU - VANGUARD UTILITIES ETF 0.6%

Value ($000) $2,793 (+966.3%) Shares 15,095 (+991.5%) Est. Cost $185.44 Unrealized —

IBMS ISHARES IBONDS DEC 2030 TERM MUNI BOND ETF 0.9%

Value ($000) $4,314 (+34.3%) Shares 165,540 (+34.4%) Est. Cost $25.62 Unrealized —

IBDW IBDW - ISHARES IBONDS DEC 2031 TERM CORPORATE ETF 1.1%

Value ($000) $5,690 (+17.9%) Shares 269,037 (+18.3%) Est. Cost $20.85 Unrealized —

IBMR ISHARES IBONDS DEC 2029 TERM MUNI BOND ETF 1.0%

Value ($000) $5,226 (+16.7%) Shares 205,521 (+17.2%) Est. Cost $25.32 Unrealized —

IBMQ ISHARES IBONDS DEC 2028 TERM MUNI BOND ETF 1.4%

Value ($000) $6,837 (+10.2%) Shares 267,346 (+10.5%) Est. Cost $26.00 Unrealized —

AAPL APPLE INC 1.0%

Value ($000) $4,970 (+13.6%) Shares 18,281 (+6.4%) Est. Cost $154.10 Unrealized +74.1%

IBDU IBDU - ISHARES IBONDS DEC 2029 TERM CORPORATE ETF 1.3%

Value ($000) $6,329 (+10.1%) Shares 270,419 (+10.5%) Est. Cost $22.77 Unrealized —

NVDA NVIDIA CORPORATION COM 0.2%

Value ($000) $1,109 (+109.6%) Shares 5,944 (+109.7%) Est. Cost $180.49 Unrealized +3.1%

IBDT ISHARES IBONDS DEC 2028 TERM CORPORATE ETF 1.3%

Value ($000) $6,484 (+8.9%) Shares 254,734 (+9.2%) Est. Cost $26.10 Unrealized —

IBDS ISHARES IBONDS DEC 2027 TERM CORPORATE ETF 1.3%

Value ($000) $6,487 (+8.7%) Shares 266,742 (+8.8%) Est. Cost $25.13 Unrealized —

IBMP ISHARES IBONDS DEC 2027 TERM MUNI BOND ETF 1.3%

Value ($000) $6,605 (+8.1%) Shares 260,139 (+8.5%) Est. Cost $26.13 Unrealized —

VBK VANGUARD SMALL CAP GROWTH ETF 3.0%

Value ($000) $15,179 (+3.1%) Shares 50,244 (+1.6%) Est. Cost $226.03 Unrealized —

IBDV IBDV - ISHARES IBONDS DEC 2030 TERM CORPORATE ETF 1.2%

Value ($000) $6,113 (+8.0%) Shares 277,002 (+8.4%) Est. Cost $21.64 Unrealized —

GOOG ALPHABET INC CAP STK CL C 0.1%

Value ($000) $631 (+185.5%) Shares 2,010 (+121.6%) Est. Cost $251.86 Unrealized +13.7%

VNQ VANGUARD REIT INDEX ETF 0.6%

Value ($000) $3,211 (+11.2%) Shares 36,286 (+14.8%) Est. Cost $89.56 Unrealized —

AMZN AMAZON COM INC COM 0.2%

Value ($000) $1,034 (+38.8%) Shares 4,478 (+32.1%) Est. Cost $226.94 Unrealized +0.8%

MSFT MICROSOFT 0.2%

Value ($000) $1,009 (+31.0%) Shares 2,087 (+40.3%) Est. Cost $506.37 Unrealized -1.1%

IBMO ISHARES IBONDS DEC 2026 TERM MUNI BOND ETF 1.2%

Value ($000) $6,193 (+3.0%) Shares 241,578 (+3.1%) Est. Cost $26.18 Unrealized —

IBDR ISHARES IBONDS DEC 2026 TERM CORPORATE ETF 1.2%

Value ($000) $6,036 (+2.6%) Shares 249,114 (+2.9%) Est. Cost $25.55 Unrealized —

VCSH VANGUARD SHORT-TERM CORPORATE BOND ETF 0.1%

Value ($000) $426 (+3.9%) Shares 5,342 (+4.1%) Est. Cost $79.92 Unrealized —

VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF 0.1%

Value ($000) $427 (+3.7%) Shares 5,101 (+4.1%) Est. Cost $84.10 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MGV	VANGUARD MEGA CAP VALUE ETF	349,302 (+3.9%)	$49,308 (+6.5%)	9.8%	$131.94	—	ETF	921910840
VPU	VPU - VANGUARD UTILITIES ETF	15,095 (+991.5%)	$2,793 (+966.3%)	0.6%	$185.44	—	ETF	92204A876
IBMS	ISHARES IBONDS DEC 2030 TERM MUNI BOND ETF	165,540 (+34.4%)	$4,314 (+34.3%)	0.9%	$25.62	—	ETF	46438G687
IBDW	IBDW - ISHARES IBONDS DEC 2031 TERM CORPORATE ETF	269,037 (+18.3%)	$5,690 (+17.9%)	1.1%	$20.85	—	ETF	46436E486
IBMR	ISHARES IBONDS DEC 2029 TERM MUNI BOND ETF	205,521 (+17.2%)	$5,226 (+16.7%)	1.0%	$25.32	—	ETF	46436E163
IBMQ	ISHARES IBONDS DEC 2028 TERM MUNI BOND ETF	267,346 (+10.5%)	$6,837 (+10.2%)	1.4%	$26.00	—	ETF	46435U325
AAPL	APPLE INC	18,281 (+6.4%)	$4,970 (+13.6%)	1.0%	$154.10	+74.1%	Stock	037833100
IBDU	IBDU - ISHARES IBONDS DEC 2029 TERM CORPORATE ETF	270,419 (+10.5%)	$6,329 (+10.1%)	1.3%	$22.77	—	ETF	46436E205
NVDA	NVIDIA CORPORATION COM	5,944 (+109.7%)	$1,109 (+109.6%)	0.2%	$180.49	+3.1%	Stock	67066G104
IBDT	ISHARES IBONDS DEC 2028 TERM CORPORATE ETF	254,734 (+9.2%)	$6,484 (+8.9%)	1.3%	$26.10	—	ETF	46435U515
IBDS	ISHARES IBONDS DEC 2027 TERM CORPORATE ETF	266,742 (+8.8%)	$6,487 (+8.7%)	1.3%	$25.13	—	ETF	46435UAA9
IBMP	ISHARES IBONDS DEC 2027 TERM MUNI BOND ETF	260,139 (+8.5%)	$6,605 (+8.1%)	1.3%	$26.13	—	ETF	46435U283
VBK	VANGUARD SMALL CAP GROWTH ETF	50,244 (+1.6%)	$15,179 (+3.1%)	3.0%	$226.03	—	ETF	922908595
IBDV	IBDV - ISHARES IBONDS DEC 2030 TERM CORPORATE ETF	277,002 (+8.4%)	$6,113 (+8.0%)	1.2%	$21.64	—	ETF	46436E726
GOOG	ALPHABET INC CAP STK CL C	2,010 (+121.6%)	$631 (+185.5%)	0.1%	$251.86	+13.7%	Stock	02079K107
VNQ	VANGUARD REIT INDEX ETF	36,286 (+14.8%)	$3,211 (+11.2%)	0.6%	$89.56	—	ETF	922908553
AMZN	AMAZON COM INC COM	4,478 (+32.1%)	$1,034 (+38.8%)	0.2%	$226.94	+0.8%	Stock	023135106
MSFT	MICROSOFT	2,087 (+40.3%)	$1,009 (+31.0%)	0.2%	$506.37	-1.1%	Stock	594918104
IBMO	ISHARES IBONDS DEC 2026 TERM MUNI BOND ETF	241,578 (+3.1%)	$6,193 (+3.0%)	1.2%	$26.18	—	ETF	46435U259
IBDR	ISHARES IBONDS DEC 2026 TERM CORPORATE ETF	249,114 (+2.9%)	$6,036 (+2.6%)	1.2%	$25.55	—	ETF	46435GAA0
VCSH	VANGUARD SHORT-TERM CORPORATE BOND ETF	5,342 (+4.1%)	$426 (+3.9%)	0.1%	$79.92	—	ETF	92206C409
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF	5,101 (+4.1%)	$427 (+3.7%)	0.1%	$84.10	—	ETF	92206C870

Exited Positions (2)

— ISHARES IBONDS DEC 2025 TERM MUNI BOND ETF 0.8%

Value ($000) $4,083 Shares 152,406 Est. Cost $27.41 Unrealized —

— ISHARES IBONDS DEC 2025 TERM CORPORATE ETF 0.7%

Value ($000) $3,717 Shares 147,564 Est. Cost $26.45 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES IBONDS DEC 2025 TERM MUNI BOND ETF	152,406	$4,083	0.8%	$27.41	—	—	46435U432
—	ISHARES IBONDS DEC 2025 TERM CORPORATE ETF	147,564	$3,717	0.7%	$26.45	—	—	46434VBD1

Decreased Positions (15)

VDE VDE - VANGUARD ENERGY ETF 0.2%

Value ($000) $886 (-76.2%) Shares 7,035 (-76.2%) Est. Cost $120.67 Unrealized —

VO VANGUARD MID CAP 3.3%

Value ($000) $16,794 (-2.6%) Shares 57,865 (-1.5%) Est. Cost $176.08 Unrealized —

VBIL VANGUARD 0-3 MONTH TREASURY BILL ETF 0.3%

Value ($000) $1,326 (-23.8%) Shares 17,575 (-23.6%) Est. Cost $75.56 Unrealized —

VGT VGT - VANGUARD INFORMATION TECHNOLOGY ETF 3.1%

Value ($000) $15,833 (-2.4%) Shares 21,004 (-3.4%) Est. Cost $417.63 Unrealized —

IVE IVE - ISHARES S&0 500 VALUE ETF 5.5%

Value ($000) $27,457 (+1.4%) Shares 129,472 (-1.3%) Est. Cost $131.70 Unrealized —

VHT VHT - VANGUARD HEALTH CARE ETF 0.8%

Value ($000) $3,974 (+8.8%) Shares 13,806 (-1.6%) Est. Cost $210.68 Unrealized —

IVV ISHARES S&P 500 INDEX 0.7%

Value ($000) $3,292 (-4.4%) Shares 4,806 (-6.6%) Est. Cost $669.31 Unrealized —

MGC VANGUARD MEGA CAP CORE ETF 4.5%

Value ($000) $22,739 (+0.6%) Shares 90,533 (-2.2%) Est. Cost $225.82 Unrealized —

VCR VCR - VANGUARD CONSUMER DISCRETIONARY ETF 0.7%

Value ($000) $3,524 (-2.8%) Shares 8,946 (-2.2%) Est. Cost $396.15 Unrealized —

VB VANGUARD SMALL CAP ETF 2.1%

Value ($000) $10,780 (+0.4%) Shares 41,792 (-1.0%) Est. Cost $171.82 Unrealized —

VDC VDC - VANGUARD CONSUMER STAPLES ETF 0.2%

Value ($000) $886 (-3.1%) Shares 4,196 (-1.9%) Est. Cost $213.73 Unrealized —

MCD MCDONALDS CORP COM 0.1%

Value ($000) $301 (-4.7%) Shares 984 (-5.2%) Est. Cost $301.40 Unrealized +1.2%

TELO TELOMIR PHARMACEUTICALS INC COM 0.0%

Value ($000) $13 (-52.2%) Shares 10,000 (-50.0%) Est. Cost $1.51 Unrealized -4.3%

IJH ISHARES CORE S&P MID-CAP ETF 0.1%

Value ($000) $293 (-4.1%) Shares 4,437 (-5.2%) Est. Cost $65.26 Unrealized —

SCHX SCHWAB STRATEGIC TR US LRG CAP ETF 0.2%

Value ($000) $952 (-0.2%) Shares 35,374 (-2.3%) Est. Cost $30.28 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VDE	VDE - VANGUARD ENERGY ETF	7,035 (-76.2%)	$886 (-76.2%)	0.2%	$120.67	—	ETF	92204A306
VO	VANGUARD MID CAP	57,865 (-1.5%)	$16,794 (-2.6%)	3.3%	$176.08	—	ETF	922908629
VBIL	VANGUARD 0-3 MONTH TREASURY BILL ETF	17,575 (-23.6%)	$1,326 (-23.8%)	0.3%	$75.56	—	ETF	922040845
VGT	VGT - VANGUARD INFORMATION TECHNOLOGY ETF	21,004 (-3.4%)	$15,833 (-2.4%)	3.1%	$417.63	—	ETF	92204A702
IVE	IVE - ISHARES S&0 500 VALUE ETF	129,472 (-1.3%)	$27,457 (+1.4%)	5.5%	$131.70	—	ETF	464287408
VHT	VHT - VANGUARD HEALTH CARE ETF	13,806 (-1.6%)	$3,974 (+8.8%)	0.8%	$210.68	—	ETF	92204A504
IVV	ISHARES S&P 500 INDEX	4,806 (-6.6%)	$3,292 (-4.4%)	0.7%	$669.31	—	ETF	464287200
MGC	VANGUARD MEGA CAP CORE ETF	90,533 (-2.2%)	$22,739 (+0.6%)	4.5%	$225.82	—	ETF	921910873
VCR	VCR - VANGUARD CONSUMER DISCRETIONARY ETF	8,946 (-2.2%)	$3,524 (-2.8%)	0.7%	$396.15	—	ETF	92204A108
VB	VANGUARD SMALL CAP ETF	41,792 (-1.0%)	$10,780 (+0.4%)	2.1%	$171.82	—	ETF	922908751
VDC	VDC - VANGUARD CONSUMER STAPLES ETF	4,196 (-1.9%)	$886 (-3.1%)	0.2%	$213.73	—	ETF	92204A207
MCD	MCDONALDS CORP COM	984 (-5.2%)	$301 (-4.7%)	0.1%	$301.40	+1.2%	Stock	580135101
TELO	TELOMIR PHARMACEUTICALS INC COM	10,000 (-50.0%)	$13 (-52.2%)	0.0%	$1.51	-4.3%	Stock	87975F104
IJH	ISHARES CORE S&P MID-CAP ETF	4,437 (-5.2%)	$293 (-4.1%)	0.1%	$65.26	—	ETF	464287507
SCHX	SCHWAB STRATEGIC TR US LRG CAP ETF	35,374 (-2.3%)	$952 (-0.2%)	0.2%	$30.28	—	ETF	808524201

Unchanged Positions (25)

MGK VANGUARD MEGA CAP GROWTH ETF 13.1%

Value ($000) $65,774 Shares 159,348 Est. Cost $367.43 Unrealized —

VEA VANGUARD FTSE DEVELOPED MARKETS ETF 7.5%

Value ($000) $37,679 Shares 603,148 Est. Cost $42.17 Unrealized —

VOT VANGUARD MID CAP GROWTH ETF 4.6%

Value ($000) $23,196 Shares 83,096 Est. Cost $180.48 Unrealized —

IVW IVW - ISHARES S&P 500 GROWTH ETF 7.8%

Value ($000) $39,165 Shares 317,746 Est. Cost $88.66 Unrealized —

VBR VANGUARD SMALL CAP VALUE ETF 2.4%

Value ($000) $12,094 Shares 57,105 Est. Cost $126.68 Unrealized —

VOE VANGUARD INDEX FDS MID-CAP VALUE INDEX VIPER SHS ETF 3.7%

Value ($000) $18,526 Shares 104,448 Est. Cost $110.37 Unrealized —

VOX VANGUARD COMMUNICATION SERVICES ETF 1.7%

Value ($000) $8,428 Shares 43,527 Est. Cost $127.16 Unrealized —

VWO VANGUARD FTSE EMERGING MARKETS ETF 3.5%

Value ($000) $17,831 Shares 331,671 Est. Cost $42.37 Unrealized —

SPTM STATE STREET SPDR PORTFOLIO S&P 1500 COMPOSITE STOCK MARKET ETF 0.8%

Value ($000) $4,092 Shares 49,603 Est. Cost $39.90 Unrealized —

JNJ JOHNSON & JOHNSON COM 0.1%

Value ($000) $365 Shares 1,765 Est. Cost $169.51 Unrealized +16.2%

VFH VANGUARD FINANCIALS ETF 0.6%

Value ($000) $2,991 Shares 22,403 Est. Cost $82.66 Unrealized —

CBNK CAPITAL BANCORP INC MD COM 0.0%

Value ($000) $202 Shares 7,184 Est. Cost $33.14 Unrealized -13.9%

VTI VANGUARD TOTAL STK MKT 0.2%

Value ($000) $831 Shares 2,478 Est. Cost $328.17 Unrealized —

EME EMCOR GROUP INC COM 0.0%

Value ($000) $241 Shares 394 Est. Cost $606.37 Unrealized +6.8%

VSS VSS - VANGUARD FTSE ALL WORLD EX-US SMALL CAP ETF 0.3%

Value ($000) $1,524 Shares 10,635 Est. Cost $118.36 Unrealized —

VIG VANGUARD DIVIDEND APPRECIATION ETF 0.1%

Value ($000) $633 Shares 2,879 Est. Cost $215.79 Unrealized —

SCHG SCHG SCHWAB US LARGE CAP GROWTH ETF 0.1%

Value ($000) $495 Shares 15,176 Est. Cost $28.27 Unrealized —

VUG VANGUARD GROWTH ETF 0.1%

Value ($000) $456 Shares 934 Est. Cost $479.61 Unrealized —

TSLA TESLA INC COM 0.1%

Value ($000) $437 Shares 971 Est. Cost $346.84 Unrealized +27.8%

IWF ISHARES RUSSELL 1000 GROWTH ETF 0.1%

Value ($000) $608 Shares 1,285 Est. Cost $468.41 Unrealized —

VAW VANGUARD MATERIALS ETF 0.1%

Value ($000) $485 Shares 2,338 Est. Cost $204.86 Unrealized —

QQQ POWERSHARES QQQ TR 0.1%

Value ($000) $254 Shares 414 Est. Cost $600.37 Unrealized —

VIS VIS - VANGUARD INDUSTRIALS ETF 0.6%

Value ($000) $2,883 Shares 9,661 Est. Cost $296.29 Unrealized —

SCHM SCHWAB US MID-CAP ETF 0.1%

Value ($000) $347 Shares 11,525 Est. Cost $27.73 Unrealized —

SCHV SCHV SCHWAB US LARGE CAP VALUE ETF 0.0%

Value ($000) $229 Shares 7,743 Est. Cost $29.11 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MGK	VANGUARD MEGA CAP GROWTH ETF	159,348	$65,774	13.1%	$367.43	—	ETF	921910816
VEA	VANGUARD FTSE DEVELOPED MARKETS ETF	603,148	$37,679	7.5%	$42.17	—	ETF	921943858
VOT	VANGUARD MID CAP GROWTH ETF	83,096	$23,196	4.6%	$180.48	—	ETF	922908538
IVW	IVW - ISHARES S&P 500 GROWTH ETF	317,746	$39,165	7.8%	$88.66	—	ETF	464287309
VBR	VANGUARD SMALL CAP VALUE ETF	57,105	$12,094	2.4%	$126.68	—	ETF	922908611
VOE	VANGUARD INDEX FDS MID-CAP VALUE INDEX VIPER SHS ETF	104,448	$18,526	3.7%	$110.37	—	ETF	922908512
VOX	VANGUARD COMMUNICATION SERVICES ETF	43,527	$8,428	1.7%	$127.16	—	ETF	92204A884
VWO	VANGUARD FTSE EMERGING MARKETS ETF	331,671	$17,831	3.5%	$42.37	—	ETF	922042858
SPTM	STATE STREET SPDR PORTFOLIO S&P 1500 COMPOSITE STOCK MARKET ETF	49,603	$4,092	0.8%	$39.90	—	ETF	78464A805
JNJ	JOHNSON & JOHNSON COM	1,765	$365	0.1%	$169.51	+16.2%	Stock	478160104
VFH	VANGUARD FINANCIALS ETF	22,403	$2,991	0.6%	$82.66	—	ETF	92204A405
CBNK	CAPITAL BANCORP INC MD COM	7,184	$202	0.0%	$33.14	-13.9%	Stock	139737100
VTI	VANGUARD TOTAL STK MKT	2,478	$831	0.2%	$328.17	—	ETF	922908769
EME	EMCOR GROUP INC COM	394	$241	0.0%	$606.37	+6.8%	Stock	29084Q100
VSS	VSS - VANGUARD FTSE ALL WORLD EX-US SMALL CAP ETF	10,635	$1,524	0.3%	$118.36	—	ETF	922042718
VIG	VANGUARD DIVIDEND APPRECIATION ETF	2,879	$633	0.1%	$215.79	—	ETF	921908844
SCHG	SCHG SCHWAB US LARGE CAP GROWTH ETF	15,176	$495	0.1%	$28.27	—	ETF	808524300
VUG	VANGUARD GROWTH ETF	934	$456	0.1%	$479.61	—	ETF	922908736
TSLA	TESLA INC COM	971	$437	0.1%	$346.84	+27.8%	Stock	88160R101
IWF	ISHARES RUSSELL 1000 GROWTH ETF	1,285	$608	0.1%	$468.41	—	ETF	464287614
VAW	VANGUARD MATERIALS ETF	2,338	$485	0.1%	$204.86	—	ETF	92204A801
QQQ	POWERSHARES QQQ TR	414	$254	0.1%	$600.37	—	ETF	46090E103
VIS	VIS - VANGUARD INDUSTRIALS ETF	9,661	$2,883	0.6%	$296.29	—	ETF	92204A603
SCHM	SCHWAB US MID-CAP ETF	11,525	$347	0.1%	$27.73	—	ETF	808524508
SCHV	SCHV SCHWAB US LARGE CAP VALUE ETF	7,743	$229	0.0%	$29.11	—	ETF	808524409