KENNICOTT CAPITAL MANAGEMENT LLC Concentrated Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VUG	VANGUARD INDEX FDS	59,628 (+2.0%)	$29,090 (+3.7%)	14.1%	$245.64	—	GROWTH ETF	922908736
VV	VANGUARD INDEX FDS	72,556 (+2.4%)	$22,841 (+4.7%)	11.1%	$133.36	—	LARGE CAP ETF	922908637
SPY	SPDR S&P 500 ETF TR	27,101 (+3.2%)	$18,480 (+5.7%)	9.0%	$267.96	—	TR UNIT	78462F103
XLV	SELECT SECTOR SPDR TR	43,113 (+1.8%)	$6,674 (+13.2%)	3.2%	$93.83	—	STATE STREET HEA	81369Y209
VTV	VANGUARD INDEX FDS	17,581 (+10.8%)	$3,358 (+13.5%)	1.6%	$86.43	—	VALUE ETF	922908744
XLY	SELECT SECTOR SPDR TR	38,230 (+87.4%)	$4,565 (-6.6%)	2.2%	$105.72	—	STATE STREET CON	81369Y407
XLK	SELECT SECTOR SPDR TR	76,892 (+100.0%)	$11,070 (+2.2%)	5.4%	$114.82	—	STATE STREET TEC	81369Y803
VFH	VANGUARD WORLD FD	15,667 (+8.0%)	$2,091 (+9.8%)	1.0%	$50.17	—	FINANCIALS ETF	92204A405
RSP	INVESCO EXCHANGE TRADED FD T	20,573 (+3.1%)	$3,941 (+4.1%)	1.9%	$120.69	—	S&P500 EQL WGT	46137V357
QQQM	INVESCO EXCH TRADED FD TR II	7,119 (+3.0%)	$1,801 (+5.4%)	0.9%	$197.28	—	NASDAQ 100 ETF	46138G649
VIS	VANGUARD WORLD FD	1,624 (+20.8%)	$485 (+21.7%)	0.2%	$219.97	—	INDUSTRIAL ETF	92204A603
BXMT	BLACKSTONE MTG TR INC	36,450 (+2.6%)	$697 (+6.6%)	0.3%	$19.49	—	COM CL A	09257W100

Exited Positions (3)

GBTC GRAYSCALE BITCOIN TRUST ETF 0.1%

Value ($000) $233 Shares 2,601 Est. Cost $84.83 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $217 Shares 4,013 Est. Cost $49.46 Unrealized —

IWF ISHARES TR 0.1%

Value ($000) $215 Shares 459 Est. Cost $468.41 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GBTC	GRAYSCALE BITCOIN TRUST ETF	2,601	$233	0.1%	$84.83	—	—	389637109
VWO	VANGUARD INTL EQUITY INDEX F	4,013	$217	0.1%	$49.46	—	—	922042858
IWF	ISHARES TR	459	$215	0.1%	$468.41	—	—	464287614

Decreased Positions (11)

SGOV ISHARES TR 7.2%

Value ($000) $14,833 (-18.8%) Shares 147,773 (-18.6%) Est. Cost $100.70 Unrealized —

VB VANGUARD INDEX FDS 0.6%

Value ($000) $1,336 (-27.7%) Shares 5,179 (-28.7%) Est. Cost $115.26 Unrealized —

VBK VANGUARD INDEX FDS 0.4%

Value ($000) $817 (-35.5%) Shares 2,703 (-36.4%) Est. Cost $141.97 Unrealized —

AAPL APPLE INC 1.6%

Value ($000) $3,210 (-11.2%) Shares 11,808 (-16.8%) Est. Cost $161.49 Unrealized +66.2%

VTI VANGUARD INDEX FDS 1.4%

Value ($000) $2,887 (-9.6%) Shares 8,610 (-11.5%) Est. Cost $117.45 Unrealized —

IWO ISHARES TR 0.3%

Value ($000) $716 (-7.4%) Shares 2,216 (-8.3%) Est. Cost $159.94 Unrealized —

AMZN AMAZON COM INC 0.3%

Value ($000) $645 (-8.0%) Shares 2,795 (-12.5%) Est. Cost $121.82 Unrealized +87.8%

— NUVEEN QUALITY MUNCP INCOME 0.1%

Value ($000) $125 (-28.6%) Shares 10,418 (-30.5%) Est. Cost $11.46 Unrealized —

VO VANGUARD INDEX FDS 0.3%

Value ($000) $559 (-7.7%) Shares 1,925 (-6.6%) Est. Cost $122.64 Unrealized —

VOE VANGUARD INDEX FDS 0.1%

Value ($000) $209 (-16.6%) Shares 1,181 (-17.9%) Est. Cost $75.64 Unrealized —

IWM ISHARES TR 0.1%

Value ($000) $267 (-11.3%) Shares 1,083 (-12.8%) Est. Cost $115.24 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SGOV	ISHARES TR	147,773 (-18.6%)	$14,833 (-18.8%)	7.2%	$100.70	—	0-3 MNTH TREASRY	46436E718
VB	VANGUARD INDEX FDS	5,179 (-28.7%)	$1,336 (-27.7%)	0.6%	$115.26	—	SMALL CP ETF	922908751
VBK	VANGUARD INDEX FDS	2,703 (-36.4%)	$817 (-35.5%)	0.4%	$141.97	—	SML CP GRW ETF	922908595
AAPL	APPLE INC	11,808 (-16.8%)	$3,210 (-11.2%)	1.6%	$161.49	+66.2%	COM	037833100
VTI	VANGUARD INDEX FDS	8,610 (-11.5%)	$2,887 (-9.6%)	1.4%	$117.45	—	TOTAL STK MKT	922908769
IWO	ISHARES TR	2,216 (-8.3%)	$716 (-7.4%)	0.3%	$159.94	—	RUS 2000 GRW ETF	464287648
AMZN	AMAZON COM INC	2,795 (-12.5%)	$645 (-8.0%)	0.3%	$121.82	+87.8%	COM	023135106
—	NUVEEN QUALITY MUNCP INCOME	10,418 (-30.5%)	$125 (-28.6%)	0.1%	$11.46	—	COM	67066V101
VO	VANGUARD INDEX FDS	1,925 (-6.6%)	$559 (-7.7%)	0.3%	$122.64	—	MID CAP ETF	922908629
VOE	VANGUARD INDEX FDS	1,181 (-17.9%)	$209 (-16.6%)	0.1%	$75.64	—	MCAP VL IDXVIP	922908512
IWM	ISHARES TR	1,083 (-12.8%)	$267 (-11.3%)	0.1%	$115.24	—	RUSSELL 2000 ETF	464287655

Unchanged Positions (23)

RBLX ROBLOX CORP 1.0%

Value ($000) $2,020 Shares 24,926 Est. Cost $42.49 Unrealized +149.9%

QQQ INVESCO QQQ TR 18.3%

Value ($000) $37,760 Shares 61,468 Est. Cost $216.20 Unrealized —

DOCS DOXIMITY INC 0.4%

Value ($000) $886 Shares 20,000 Est. Cost $43.90 Unrealized +27.9%

GOOGL ALPHABET INC 0.4%

Value ($000) $808 Shares 2,580 Est. Cost $117.83 Unrealized +142.4%

IVV ISHARES TR 2.9%

Value ($000) $5,947 Shares 8,683 Est. Cost $412.90 Unrealized —

IYH ISHARES TR 0.7%

Value ($000) $1,361 Shares 20,910 Est. Cost $60.56 Unrealized —

XLF SELECT SECTOR SPDR TR 2.2%

Value ($000) $4,603 Shares 84,044 Est. Cost $33.27 Unrealized —

LRCX LAM RESEARCH CORP 0.2%

Value ($000) $411 Shares 2,400 Est. Cost $78.86 Unrealized +97.0%

GOOG ALPHABET INC 0.1%

Value ($000) $301 Shares 960 Est. Cost $209.93 Unrealized +36.4%

RSPT INVESCO EXCHANGE TRADED FD T 1.6%

Value ($000) $3,251 Shares 71,444 Est. Cost $67.78 Unrealized —

UBER UBER TECHNOLOGIES INC 0.1%

Value ($000) $300 Shares 3,675 Est. Cost $52.31 Unrealized +72.1%

META META PLATFORMS INC 0.2%

Value ($000) $442 Shares 669 Est. Cost $443.21 Unrealized +50.6%

XLI SELECT SECTOR SPDR TR 3.0%

Value ($000) $6,256 Shares 40,329 Est. Cost $65.64 Unrealized —

IYF ISHARES TR 1.1%

Value ($000) $2,277 Shares 17,658 Est. Cost $121.38 Unrealized —

MSFT MICROSOFT CORP 0.2%

Value ($000) $365 Shares 755 Est. Cost $417.46 Unrealized +19.9%

VOT VANGUARD INDEX FDS 0.2%

Value ($000) $485 Shares 1,739 Est. Cost $117.22 Unrealized —

IYJ ISHARES TR 0.6%

Value ($000) $1,194 Shares 8,055 Est. Cost $142.56 Unrealized —

AVGO BROADCOM INC 0.1%

Value ($000) $253 Shares 730 Est. Cost $215.92 Unrealized +65.3%

VCR VANGUARD WORLD FD 0.8%

Value ($000) $1,697 Shares 4,308 Est. Cost $141.29 Unrealized —

IVW ISHARES TR 0.2%

Value ($000) $336 Shares 2,724 Est. Cost $36.15 Unrealized —

XLC SELECT SECTOR SPDR TR 0.1%

Value ($000) $245 Shares 2,077 Est. Cost $96.81 Unrealized —

XLP SELECT SECTOR SPDR TR 1.0%

Value ($000) $2,036 Shares 26,212 Est. Cost $64.46 Unrealized —

NVDA NVIDIA CORPORATION 0.9%

Value ($000) $1,815 Shares 9,730 Est. Cost $95.58 Unrealized +94.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RBLX	ROBLOX CORP	24,926	$2,020	1.0%	$42.49	+149.9%	CL A	771049103
QQQ	INVESCO QQQ TR	61,468	$37,760	18.3%	$216.20	—	UNIT SER 1	46090E103
DOCS	DOXIMITY INC	20,000	$886	0.4%	$43.90	+27.9%	CL A	26622P107
GOOGL	ALPHABET INC	2,580	$808	0.4%	$117.83	+142.4%	CAP STK CL A	02079K305
IVV	ISHARES TR	8,683	$5,947	2.9%	$412.90	—	CORE S&P500 ETF	464287200
IYH	ISHARES TR	20,910	$1,361	0.7%	$60.56	—	US HLTHCARE ETF	464287762
XLF	SELECT SECTOR SPDR TR	84,044	$4,603	2.2%	$33.27	—	STATE STREET FIN	81369Y605
LRCX	LAM RESEARCH CORP	2,400	$411	0.2%	$78.86	+97.0%	COM NEW	512807306
GOOG	ALPHABET INC	960	$301	0.1%	$209.93	+36.4%	CAP STK CL C	02079K107
RSPT	INVESCO EXCHANGE TRADED FD T	71,444	$3,251	1.6%	$67.78	—	S&P500 EQL TEC	46137V282
UBER	UBER TECHNOLOGIES INC	3,675	$300	0.1%	$52.31	+72.1%	COM	90353T100
META	META PLATFORMS INC	669	$442	0.2%	$443.21	+50.6%	CL A	30303M102
XLI	SELECT SECTOR SPDR TR	40,329	$6,256	3.0%	$65.64	—	STATE STREET IND	81369Y704
IYF	ISHARES TR	17,658	$2,277	1.1%	$121.38	—	U.S. FINLS ETF	464287788
MSFT	MICROSOFT CORP	755	$365	0.2%	$417.46	+19.9%	COM	594918104
VOT	VANGUARD INDEX FDS	1,739	$485	0.2%	$117.22	—	MCAP GR IDXVIP	922908538
IYJ	ISHARES TR	8,055	$1,194	0.6%	$142.56	—	US INDUSTRIALS	464287754
AVGO	BROADCOM INC	730	$253	0.1%	$215.92	+65.3%	COM	11135F101
VCR	VANGUARD WORLD FD	4,308	$1,697	0.8%	$141.29	—	CONSUM DIS ETF	92204A108
IVW	ISHARES TR	2,724	$336	0.2%	$36.15	—	S&P 500 GRWT ETF	464287309
XLC	SELECT SECTOR SPDR TR	2,077	$245	0.1%	$96.81	—	STATE STREET COM	81369Y852
XLP	SELECT SECTOR SPDR TR	26,212	$2,036	1.0%	$64.46	—	STATE STREET CON	81369Y308
NVDA	NVIDIA CORPORATION	9,730	$1,815	0.9%	$95.58	+94.7%	COM	67066G104