Carmel Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VMI	VALMONT INDS INC	5,798	$2,333	0.8%	$406.96	0.0%	COM	920253101
CEF	SPROTT ASSET MANAGEMENT LP	10,606	$486	0.2%	$45.80	—	PHYSICAL GOLD AN	85208R101
V	VISA INC	1,064	$373	0.1%	$340.38	0.0%	COM CL A	92826C839
VOOG	VANGUARD ADMIRAL FDS INC	651	$289	0.1%	$444.59	—	500 GRTH IDX F	921932505
PRM	PERIMETER SOLUTIONS INC	10,090	$278	0.1%	$25.26	0.0%	COMMON STOCK	71385M107
STX	SEAGATE TECHNOLOGY HLDNGS PL	892	$246	0.1%	$258.92	0.0%	ORD SHS	G7997R103
BWXT	BWX TECHNOLOGIES INC	1,325	$229	0.1%	$187.42	0.0%	COM	05605H100
SNOW	SNOWFLAKE INC	1,028	$226	0.1%	$244.09	0.0%	COM SHS	833445109
IBTH	ISHARES TR	10,000	$225	0.1%	$22.47	—	IBONDS 27 TRM TS	46436E841
HHH	HOWARD HUGHES HOLDINGS INC	2,717	$217	0.1%	$82.83	0.0%	COM	44267T102
BNDX	VANGUARD CHARLOTTE FDS	4,306	$208	0.1%	$48.32	—	TOTAL INT BD ETF	92203J407
AXP	AMERICAN EXPRESS CO	553	$205	0.1%	$356.97	0.0%	COM	025816109
CAH	CARDINAL HEALTH INC	981	$202	0.1%	$187.72	0.0%	COM	14149Y108
MSIF	MSC INCOME FUND INC	11,863	$156	0.1%	$13.28	0.0%	COM	55374X208
INV	INNVENTURE INC	15,000	$63	0.0%	$4.20	0.0%	COM	45784M108

Increased Positions (70)

CGMS CAPITAL GRP FIXED INCM ETF T 3.3%

Value ($000) $9,517 (+100.1%) Shares 344,573 (+101.1%) Est. Cost $27.47 Unrealized —

QCOM QUALCOMM INC 2.3%

Value ($000) $6,648 (+81.5%) Shares 38,865 (+76.5%) Est. Cost $148.89 Unrealized +14.7%

ON ON SEMICONDUCTOR CORP 1.4%

Value ($000) $3,975 (+140.9%) Shares 73,416 (+119.3%) Est. Cost $54.83 Unrealized -6.4%

GOOG ALPHABET INC 2.1%

Value ($000) $5,905 (+64.0%) Shares 18,816 (+27.3%) Est. Cost $178.89 Unrealized +60.1%

CRM SALESFORCE INC 0.9%

Value ($000) $2,628 (+260.2%) Shares 9,919 (+222.3%) Est. Cost $252.36 Unrealized -1.7%

IBTI ISHARES TR 2.1%

Value ($000) $6,036 (+43.3%) Shares 269,864 (+43.4%) Est. Cost $22.11 Unrealized —

DG DOLLAR GEN CORP NEW 1.3%

Value ($000) $3,745 (+92.2%) Shares 28,210 (+49.6%) Est. Cost $88.03 Unrealized +26.7%

OBDC BLUE OWL CAPITAL CORPORATION 1.1%

Value ($000) $3,006 (+129.2%) Shares 241,837 (+135.4%) Est. Cost $11.58 Unrealized +6.7%

APO APOLLO GLOBAL MGMT INC 1.2%

Value ($000) $3,446 (+88.9%) Shares 23,808 (+73.9%) Est. Cost $101.58 Unrealized +30.5%

CLOX SERIES PORTFOLIOS TR 2.1%

Value ($000) $6,028 (+36.4%) Shares 236,314 (+36.8%) Est. Cost $25.55 Unrealized —

PFXF VANECK ETF TRUST 2.3%

Value ($000) $6,592 (+32.1%) Shares 373,248 (+33.0%) Est. Cost $17.41 Unrealized —

BSCS INVESCO EXCH TRD SLF IDX FD 2.2%

Value ($000) $6,140 (+35.2%) Shares 298,063 (+35.0%) Est. Cost $20.17 Unrealized —

BSCT INVESCO EXCH TRD SLF IDX FD 2.2%

Value ($000) $6,168 (+35.0%) Shares 327,451 (+34.8%) Est. Cost $18.62 Unrealized —

IQV IQVIA HLDGS INC 1.2%

Value ($000) $3,401 (+78.3%) Shares 15,089 (+50.2%) Est. Cost $212.48 Unrealized +2.4%

BSCV INVESCO EXCH TRD SLF IDX FD 2.1%

Value ($000) $6,076 (+32.4%) Shares 363,932 (+32.2%) Est. Cost $16.68 Unrealized —

QXO QXO INC 0.8%

Value ($000) $2,367 (+167.9%) Shares 122,725 (+164.7%) Est. Cost $19.75 Unrealized -3.0%

CARR CARRIER GLOBAL CORPORATION 0.9%

Value ($000) $2,685 (+121.6%) Shares 50,810 (+150.3%) Est. Cost $60.46 Unrealized -8.2%

UPS UNITED PARCEL SERVICE INC 0.8%

Value ($000) $2,279 (+177.1%) Shares 22,974 (+133.3%) Est. Cost $107.73 Unrealized -13.9%

APG API GROUP CORP 1.5%

Value ($000) $4,194 (+52.8%) Shares 109,628 (+37.3%) Est. Cost $24.75 Unrealized +49.4%

TSLA TESLA INC 2.1%

Value ($000) $6,037 (+31.1%) Shares 13,424 (+29.6%) Est. Cost $283.72 Unrealized +56.2%

COF CAPITAL ONE FINL CORP 1.0%

Value ($000) $2,914 (+89.5%) Shares 12,022 (+66.2%) Est. Cost $199.84 Unrealized +11.2%

RH RH 0.7%

Value ($000) $2,100 (+124.7%) Shares 11,723 (+154.8%) Est. Cost $223.13 Unrealized -23.4%

SCHW SCHWAB CHARLES CORP 1.2%

Value ($000) $3,479 (+49.9%) Shares 34,821 (+43.3%) Est. Cost $78.32 Unrealized +21.0%

PHG KONINKLIJKE PHILIPS N V 1.1%

Value ($000) $3,131 (+57.0%) Shares 115,627 (+58.0%) Est. Cost $28.11 Unrealized —

STWD STARWOOD PPTY TR INC 1.1%

Value ($000) $3,272 (+52.3%) Shares 181,676 (+63.8%) Est. Cost $19.57 Unrealized —

NEE NEXTERA ENERGY INC 1.0%

Value ($000) $2,790 (+67.4%) Shares 34,756 (+57.4%) Est. Cost $73.37 Unrealized +12.5%

HCA HCA HEALTHCARE INC 1.0%

Value ($000) $2,969 (+60.4%) Shares 6,360 (+46.4%) Est. Cost $360.83 Unrealized +28.5%

BN BROOKFIELD CORP 1.1%

Value ($000) $3,162 (+53.5%) Shares 68,913 (+129.5%) Est. Cost $35.88 Unrealized +26.9%

HLT HILTON WORLDWIDE HLDGS INC 0.9%

Value ($000) $2,474 (+78.5%) Shares 8,612 (+61.2%) Est. Cost $250.80 Unrealized +8.5%

ROK ROCKWELL AUTOMATION INC 0.9%

Value ($000) $2,462 (+70.5%) Shares 6,327 (+53.2%) Est. Cost $294.23 Unrealized +27.5%

TRV TRAVELERS COMPANIES INC 0.9%

Value ($000) $2,426 (+68.0%) Shares 8,363 (+61.7%) Est. Cost $268.30 Unrealized +4.6%

A AGILENT TECHNOLOGIES INC 0.7%

Value ($000) $1,964 (+89.9%) Shares 14,432 (+79.1%) Est. Cost $139.36 Unrealized +3.1%

ICE INTERCONTINENTAL EXCHANGE IN 0.9%

Value ($000) $2,547 (+56.2%) Shares 15,725 (+62.5%) Est. Cost $127.85 Unrealized +22.2%

IR INGERSOLL RAND INC 0.8%

Value ($000) $2,358 (+62.9%) Shares 29,759 (+69.9%) Est. Cost $73.43 Unrealized +7.5%

AAPL APPLE INC 1.2%

Value ($000) $3,295 (+36.4%) Shares 12,122 (+27.8%) Est. Cost $188.35 Unrealized +42.5%

CCK CROWN HLDGS INC 0.7%

Value ($000) $2,058 (+69.1%) Shares 19,982 (+58.6%) Est. Cost $93.15 Unrealized +4.5%

AMAT APPLIED MATLS INC 1.0%

Value ($000) $2,783 (+42.2%) Shares 10,831 (+13.3%) Est. Cost $162.13 Unrealized +47.7%

CLOZ SERIES PORTFOLIOS TR 2.3%

Value ($000) $6,483 (+14.3%) Shares 244,829 (+15.8%) Est. Cost $26.77 Unrealized —

USFR WISDOMTREE TR 9.8%

Value ($000) $27,945 (+2.9%) Shares 555,342 (+2.8%) Est. Cost $50.29 Unrealized —

ARI APOLLO COML REAL EST FIN INC 1.1%

Value ($000) $3,044 (+33.8%) Shares 314,501 (+40.0%) Est. Cost $10.00 Unrealized —

MELI MERCADOLIBRE INC 0.8%

Value ($000) $2,314 (+48.5%) Shares 1,149 (+72.3%) Est. Cost $2033.40 Unrealized +3.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.4%

Value ($000) $1,038 (+232.1%) Shares 2,066 (+232.2%) Est. Cost $445.67 Unrealized +11.6%

NVDA NVIDIA CORPORATION 0.9%

Value ($000) $2,603 (+37.0%) Shares 13,959 (+37.0%) Est. Cost $125.16 Unrealized +48.7%

RPM RPM INTL INC 0.8%

Value ($000) $2,386 (+40.6%) Shares 22,939 (+59.4%) Est. Cost $103.59 Unrealized +4.5%

GTLB GITLAB INC 0.7%

Value ($000) $1,908 (+51.2%) Shares 50,848 (+81.6%) Est. Cost $50.64 Unrealized -14.5%

FWONK LIBERTY MEDIA CORP DEL 0.7%

Value ($000) $2,095 (+41.4%) Shares 21,263 (+50.0%) Est. Cost $79.36 Unrealized —

AMZN AMAZON COM INC 0.4%

Value ($000) $1,047 (+126.9%) Shares 4,536 (+115.8%) Est. Cost $182.43 Unrealized +25.4%

DHI D R HORTON INC 0.6%

Value ($000) $1,780 (+35.9%) Shares 12,357 (+59.9%) Est. Cost $133.44 Unrealized +13.9%

UBER UBER TECHNOLOGIES INC 0.6%

Value ($000) $1,782 (+35.0%) Shares 21,808 (+61.8%) Est. Cost $70.75 Unrealized +27.3%

Z ZILLOW GROUP INC 0.6%

Value ($000) $1,770 (+35.2%) Shares 25,951 (+52.7%) Est. Cost $62.80 Unrealized +15.3%

LH LABCORP HOLDINGS INC 0.8%

Value ($000) $2,170 (+25.5%) Shares 8,648 (+43.6%) Est. Cost $224.43 Unrealized +18.1%

LLY ELI LILLY & CO 0.2%

Value ($000) $694 (+164.5%) Shares 646 (+87.8%) Est. Cost $676.19 Unrealized +41.3%

EME EMCOR GROUP INC 0.8%

Value ($000) $2,228 (+24.0%) Shares 3,642 (+31.7%) Est. Cost $490.55 Unrealized +32.0%

VTI VANGUARD INDEX FDS 0.5%

Value ($000) $1,302 (+48.7%) Shares 3,884 (+45.5%) Est. Cost $287.81 Unrealized —

IVV ISHARES TR 0.2%

Value ($000) $667 (+176.9%) Shares 974 (+170.6%) Est. Cost $644.98 Unrealized —

JPM JPMORGAN CHASE & CO. 0.3%

Value ($000) $955 (+72.2%) Shares 2,965 (+68.6%) Est. Cost $217.15 Unrealized +42.5%

SCHD SCHWAB STRATEGIC TR 0.2%

Value ($000) $710 (+101.9%) Shares 25,877 (+101.0%) Est. Cost $27.37 Unrealized —

ORCL ORACLE CORP 0.9%

Value ($000) $2,577 (-8.6%) Shares 13,223 (+31.8%) Est. Cost $137.66 Unrealized +72.9%

BA BOEING CO 0.4%

Value ($000) $1,194 (+22.9%) Shares 5,501 (+22.2%) Est. Cost $194.52 Unrealized +5.7%

COST COSTCO WHSL CORP NEW 0.2%

Value ($000) $454 (+77.5%) Shares 526 (+90.6%) Est. Cost $689.94 Unrealized +31.3%

DASH DOORDASH INC 0.3%

Value ($000) $866 (+27.2%) Shares 3,824 (+52.7%) Est. Cost $140.03 Unrealized +67.5%

AGG ISHARES TR 0.4%

Value ($000) $1,032 (+16.6%) Shares 10,337 (+17.0%) Est. Cost $99.43 Unrealized —

MSFT MICROSOFT CORP 0.3%

Value ($000) $908 (+13.3%) Shares 1,877 (+21.3%) Est. Cost $365.83 Unrealized +36.8%

META META PLATFORMS INC 0.3%

Value ($000) $794 (-8.7%) Shares 1,203 (+1.6%) Est. Cost $205.84 Unrealized +224.2%

SPYM SPDR SERIES TRUST 0.2%

Value ($000) $510 (+14.4%) Shares 6,358 (+11.7%) Est. Cost $69.20 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 0.3%

Value ($000) $910 (+7.6%) Shares 14,566 (+3.2%) Est. Cost $50.57 Unrealized —

VOO VANGUARD INDEX FDS 0.3%

Value ($000) $987 (+4.6%) Shares 1,574 (+2.1%) Est. Cost $556.28 Unrealized —

WRB BERKLEY W R CORP 0.2%

Value ($000) $513 (-7.5%) Shares 7,314 (+1.1%) Est. Cost $49.64 Unrealized +46.6%

VWO VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $410 (+6.8%) Shares 7,619 (+7.6%) Est. Cost $47.69 Unrealized —

SCHX SCHWAB STRATEGIC TR 0.2%

Value ($000) $530 (+4.0%) Shares 19,703 (+1.8%) Est. Cost $30.42 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CGMS	CAPITAL GRP FIXED INCM ETF T	344,573 (+101.1%)	$9,517 (+100.1%)	3.3%	$27.47	—	US MULTI-SECTOR	14020Y300
QCOM	QUALCOMM INC	38,865 (+76.5%)	$6,648 (+81.5%)	2.3%	$148.89	+14.7%	COM	747525103
ON	ON SEMICONDUCTOR CORP	73,416 (+119.3%)	$3,975 (+140.9%)	1.4%	$54.83	-6.4%	COM	682189105
GOOG	ALPHABET INC	18,816 (+27.3%)	$5,905 (+64.0%)	2.1%	$178.89	+60.1%	CAP STK CL C	02079K107
CRM	SALESFORCE INC	9,919 (+222.3%)	$2,628 (+260.2%)	0.9%	$252.36	-1.7%	COM	79466L302
IBTI	ISHARES TR	269,864 (+43.4%)	$6,036 (+43.3%)	2.1%	$22.11	—	IBONDS 28 TRM TS	46436E833
DG	DOLLAR GEN CORP NEW	28,210 (+49.6%)	$3,745 (+92.2%)	1.3%	$88.03	+26.7%	COM	256677105
OBDC	BLUE OWL CAPITAL CORPORATION	241,837 (+135.4%)	$3,006 (+129.2%)	1.1%	$11.58	+6.7%	COM	69121K104
APO	APOLLO GLOBAL MGMT INC	23,808 (+73.9%)	$3,446 (+88.9%)	1.2%	$101.58	+30.5%	COM	03769M106
CLOX	SERIES PORTFOLIOS TR	236,314 (+36.8%)	$6,028 (+36.4%)	2.1%	$25.55	—	ELDRIDGE AAA CLO	81752T486
PFXF	VANECK ETF TRUST	373,248 (+33.0%)	$6,592 (+32.1%)	2.3%	$17.41	—	PREFERRED SECURT	92189F429
BSCS	INVESCO EXCH TRD SLF IDX FD	298,063 (+35.0%)	$6,140 (+35.2%)	2.2%	$20.17	—	INVSCO BLSH 28	46138J643
BSCT	INVESCO EXCH TRD SLF IDX FD	327,451 (+34.8%)	$6,168 (+35.0%)	2.2%	$18.62	—	BULETSHS 2029	46138J577
IQV	IQVIA HLDGS INC	15,089 (+50.2%)	$3,401 (+78.3%)	1.2%	$212.48	+2.4%	COM	46266C105
BSCV	INVESCO EXCH TRD SLF IDX FD	363,932 (+32.2%)	$6,076 (+32.4%)	2.1%	$16.68	—	BULETSHS 2031 CP	46138J429
QXO	QXO INC	122,725 (+164.7%)	$2,367 (+167.9%)	0.8%	$19.75	-3.0%	COM NEW	82846H405
CARR	CARRIER GLOBAL CORPORATION	50,810 (+150.3%)	$2,685 (+121.6%)	0.9%	$60.46	-8.2%	COM	14448C104
UPS	UNITED PARCEL SERVICE INC	22,974 (+133.3%)	$2,279 (+177.1%)	0.8%	$107.73	-13.9%	CL B	911312106
APG	API GROUP CORP	109,628 (+37.3%)	$4,194 (+52.8%)	1.5%	$24.75	+49.4%	COM STK	00187Y100
TSLA	TESLA INC	13,424 (+29.6%)	$6,037 (+31.1%)	2.1%	$283.72	+56.2%	COM	88160R101
COF	CAPITAL ONE FINL CORP	12,022 (+66.2%)	$2,914 (+89.5%)	1.0%	$199.84	+11.2%	COM	14040H105
RH	RH	11,723 (+154.8%)	$2,100 (+124.7%)	0.7%	$223.13	-23.4%	COM	74967X103
SCHW	SCHWAB CHARLES CORP	34,821 (+43.3%)	$3,479 (+49.9%)	1.2%	$78.32	+21.0%	COM	808513105
PHG	KONINKLIJKE PHILIPS N V	115,627 (+58.0%)	$3,131 (+57.0%)	1.1%	$28.11	—	NY REGIS SHS NEW	500472303
STWD	STARWOOD PPTY TR INC	181,676 (+63.8%)	$3,272 (+52.3%)	1.1%	$19.57	—	COM	85571B105
NEE	NEXTERA ENERGY INC	34,756 (+57.4%)	$2,790 (+67.4%)	1.0%	$73.37	+12.5%	COM	65339F101
HCA	HCA HEALTHCARE INC	6,360 (+46.4%)	$2,969 (+60.4%)	1.0%	$360.83	+28.5%	COM	40412C101
BN	BROOKFIELD CORP	68,913 (+129.5%)	$3,162 (+53.5%)	1.1%	$35.88	+26.9%	CL A LTD VT SH	11271J107
HLT	HILTON WORLDWIDE HLDGS INC	8,612 (+61.2%)	$2,474 (+78.5%)	0.9%	$250.80	+8.5%	COM	43300A203
ROK	ROCKWELL AUTOMATION INC	6,327 (+53.2%)	$2,462 (+70.5%)	0.9%	$294.23	+27.5%	COM	773903109
TRV	TRAVELERS COMPANIES INC	8,363 (+61.7%)	$2,426 (+68.0%)	0.9%	$268.30	+4.6%	COM	89417E109
A	AGILENT TECHNOLOGIES INC	14,432 (+79.1%)	$1,964 (+89.9%)	0.7%	$139.36	+3.1%	COM	00846U101
ICE	INTERCONTINENTAL EXCHANGE IN	15,725 (+62.5%)	$2,547 (+56.2%)	0.9%	$127.85	+22.2%	COM	45866F104
IR	INGERSOLL RAND INC	29,759 (+69.9%)	$2,358 (+62.9%)	0.8%	$73.43	+7.5%	COM	45687V106
AAPL	APPLE INC	12,122 (+27.8%)	$3,295 (+36.4%)	1.2%	$188.35	+42.5%	COM	037833100
CCK	CROWN HLDGS INC	19,982 (+58.6%)	$2,058 (+69.1%)	0.7%	$93.15	+4.5%	COM	228368106
AMAT	APPLIED MATLS INC	10,831 (+13.3%)	$2,783 (+42.2%)	1.0%	$162.13	+47.7%	COM	038222105
CLOZ	SERIES PORTFOLIOS TR	244,829 (+15.8%)	$6,483 (+14.3%)	2.3%	$26.77	—	ELDRIDGE BBB B	81752T528
USFR	WISDOMTREE TR	555,342 (+2.8%)	$27,945 (+2.9%)	9.8%	$50.29	—	FLOATNG RAT TREA	97717Y527
ARI	APOLLO COML REAL EST FIN INC	314,501 (+40.0%)	$3,044 (+33.8%)	1.1%	$10.00	—	COM	03762U105
MELI	MERCADOLIBRE INC	1,149 (+72.3%)	$2,314 (+48.5%)	0.8%	$2033.40	+3.3%	COM	58733R102
BRK/B	BERKSHIRE HATHAWAY INC DEL	2,066 (+232.2%)	$1,038 (+232.1%)	0.4%	$445.67	+11.6%	CL B NEW	084670702
NVDA	NVIDIA CORPORATION	13,959 (+37.0%)	$2,603 (+37.0%)	0.9%	$125.16	+48.7%	COM	67066G104
RPM	RPM INTL INC	22,939 (+59.4%)	$2,386 (+40.6%)	0.8%	$103.59	+4.5%	COM	749685103
GTLB	GITLAB INC	50,848 (+81.6%)	$1,908 (+51.2%)	0.7%	$50.64	-14.5%	CLASS A COM	37637K108
FWONK	LIBERTY MEDIA CORP DEL	21,263 (+50.0%)	$2,095 (+41.4%)	0.7%	$79.36	—	COM LBTY ONE S C	531229755
AMZN	AMAZON COM INC	4,536 (+115.8%)	$1,047 (+126.9%)	0.4%	$182.43	+25.4%	COM	023135106
DHI	D R HORTON INC	12,357 (+59.9%)	$1,780 (+35.9%)	0.6%	$133.44	+13.9%	COM	23331A109
UBER	UBER TECHNOLOGIES INC	21,808 (+61.8%)	$1,782 (+35.0%)	0.6%	$70.75	+27.3%	COM	90353T100
Z	ZILLOW GROUP INC	25,951 (+52.7%)	$1,770 (+35.2%)	0.6%	$62.80	+15.3%	CL C CAP STK	98954M200
LH	LABCORP HOLDINGS INC	8,648 (+43.6%)	$2,170 (+25.5%)	0.8%	$224.43	+18.1%	COM SHS	504922105
LLY	ELI LILLY & CO	646 (+87.8%)	$694 (+164.5%)	0.2%	$676.19	+41.3%	COM	532457108
EME	EMCOR GROUP INC	3,642 (+31.7%)	$2,228 (+24.0%)	0.8%	$490.55	+32.0%	COM	29084Q100
VTI	VANGUARD INDEX FDS	3,884 (+45.5%)	$1,302 (+48.7%)	0.5%	$287.81	—	TOTAL STK MKT	922908769
IVV	ISHARES TR	974 (+170.6%)	$667 (+176.9%)	0.2%	$644.98	—	CORE S&P500 ETF	464287200
JPM	JPMORGAN CHASE & CO.	2,965 (+68.6%)	$955 (+72.2%)	0.3%	$217.15	+42.5%	COM	46625H100
SCHD	SCHWAB STRATEGIC TR	25,877 (+101.0%)	$710 (+101.9%)	0.2%	$27.37	—	US DIVIDEND EQ	808524797
ORCL	ORACLE CORP	13,223 (+31.8%)	$2,577 (-8.6%)	0.9%	$137.66	+72.9%	COM	68389X105
BA	BOEING CO	5,501 (+22.2%)	$1,194 (+22.9%)	0.4%	$194.52	+5.7%	COM	097023105
COST	COSTCO WHSL CORP NEW	526 (+90.6%)	$454 (+77.5%)	0.2%	$689.94	+31.3%	COM	22160K105
DASH	DOORDASH INC	3,824 (+52.7%)	$866 (+27.2%)	0.3%	$140.03	+67.5%	CL A	25809K105
AGG	ISHARES TR	10,337 (+17.0%)	$1,032 (+16.6%)	0.4%	$99.43	—	CORE US AGGBD ET	464287226
MSFT	MICROSOFT CORP	1,877 (+21.3%)	$908 (+13.3%)	0.3%	$365.83	+36.8%	COM	594918104
META	META PLATFORMS INC	1,203 (+1.6%)	$794 (-8.7%)	0.3%	$205.84	+224.2%	CL A	30303M102
SPYM	SPDR SERIES TRUST	6,358 (+11.7%)	$510 (+14.4%)	0.2%	$69.20	—	STATE STREET SPD	78464A854
VEA	VANGUARD TAX-MANAGED FDS	14,566 (+3.2%)	$910 (+7.6%)	0.3%	$50.57	—	VAN FTSE DEV MKT	921943858
VOO	VANGUARD INDEX FDS	1,574 (+2.1%)	$987 (+4.6%)	0.3%	$556.28	—	S&P 500 ETF SHS	922908363
WRB	BERKLEY W R CORP	7,314 (+1.1%)	$513 (-7.5%)	0.2%	$49.64	+46.6%	COM	084423102
VWO	VANGUARD INTL EQUITY INDEX F	7,619 (+7.6%)	$410 (+6.8%)	0.1%	$47.69	—	FTSE EMR MKT ETF	922042858
SCHX	SCHWAB STRATEGIC TR	19,703 (+1.8%)	$530 (+4.0%)	0.2%	$30.42	—	US LRG CAP ETF	808524201

Exited Positions (6)

SYK STRYKER CORPORATION 0.5%

Value ($000) $1,340 Shares 3,626 Est. Cost $371.54 Unrealized -2.2%

ILMN ILLUMINA INC 0.1%

Value ($000) $380 Shares 4,001 Est. Cost $145.16 Unrealized -19.1%

VUG VANGUARD INDEX FDS 0.1%

Value ($000) $215 Shares 448 Est. Cost $438.14 Unrealized —

FLOT ISHARES TR 0.1%

Value ($000) $211 Shares 4,128 Est. Cost $50.86 Unrealized —

ABT ABBOTT LABS 0.1%

Value ($000) $208 Shares 1,554 Est. Cost $109.71 Unrealized +16.0%

BLK BLACKROCK INC 0.1%

Value ($000) $202 Shares 173 Est. Cost $991.05 Unrealized +9.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SYK	STRYKER CORPORATION	3,626	$1,340	0.5%	$371.54	-2.2%	—	863667101
ILMN	ILLUMINA INC	4,001	$380	0.1%	$145.16	-19.1%	—	452327109
VUG	VANGUARD INDEX FDS	448	$215	0.1%	$438.14	—	—	922908736
FLOT	ISHARES TR	4,128	$211	0.1%	$50.86	—	—	46429B655
ABT	ABBOTT LABS	1,554	$208	0.1%	$109.71	+16.0%	—	002824100
BLK	BLACKROCK INC	173	$202	0.1%	$991.05	+9.9%	—	09290D101

Decreased Positions (12)

PLTR PALANTIR TECHNOLOGIES INC 2.7%

Value ($000) $7,791 (-62.4%) Shares 43,829 (-61.4%) Est. Cost $19.45 Unrealized +830.7%

HD HOME DEPOT INC 9.0%

Value ($000) $25,566 (-20.3%) Shares 74,299 (-6.2%) Est. Cost $319.32 Unrealized +14.2%

ABBV ABBVIE INC 0.1%

Value ($000) $261 (-42.2%) Shares 1,142 (-41.4%) Est. Cost $115.28 Unrealized +97.4%

VICI VICI PPTYS INC 0.1%

Value ($000) $204 (-41.6%) Shares 7,248 (-32.3%) Est. Cost $24.59 Unrealized +19.2%

NOBL PROSHARES TR 0.3%

Value ($000) $875 (-14.2%) Shares 8,403 (-15.1%) Est. Cost $100.70 Unrealized —

EOSE EOS ENERGY ENTERPRISES INC 0.1%

Value ($000) $185 (-32.8%) Shares 16,100 (-33.2%) Est. Cost $4.32 Unrealized +232.7%

ADEA ADEIA INC 0.1%

Value ($000) $183 (-14.3%) Shares 10,587 (-16.5%) Est. Cost $9.81 Unrealized +50.7%

VO VANGUARD INDEX FDS 0.3%

Value ($000) $929 (-2.8%) Shares 3,200 (-1.7%) Est. Cost $279.81 Unrealized —

PANW PALO ALTO NETWORKS INC 0.1%

Value ($000) $204 (-11.5%) Shares 1,105 (-2.1%) Est. Cost $129.10 Unrealized +56.3%

BIV VANGUARD BD INDEX FDS 0.3%

Value ($000) $893 (-1.7%) Shares 11,470 (-1.5%) Est. Cost $77.34 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 0.1%

Value ($000) $392 (+2.0%) Shares 5,334 (-1.0%) Est. Cost $67.22 Unrealized —

VB VANGUARD INDEX FDS 0.1%

Value ($000) $275 (+0.1%) Shares 1,065 (-1.3%) Est. Cost $237.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PLTR	PALANTIR TECHNOLOGIES INC	43,829 (-61.4%)	$7,791 (-62.4%)	2.7%	$19.45	+830.7%	CL A	69608A108
HD	HOME DEPOT INC	74,299 (-6.2%)	$25,566 (-20.3%)	9.0%	$319.32	+14.2%	COM	437076102
ABBV	ABBVIE INC	1,142 (-41.4%)	$261 (-42.2%)	0.1%	$115.28	+97.4%	COM	00287Y109
VICI	VICI PPTYS INC	7,248 (-32.3%)	$204 (-41.6%)	0.1%	$24.59	+19.2%	COM	925652109
NOBL	PROSHARES TR	8,403 (-15.1%)	$875 (-14.2%)	0.3%	$100.70	—	S&P 500 DV ARIST	74348A467
EOSE	EOS ENERGY ENTERPRISES INC	16,100 (-33.2%)	$185 (-32.8%)	0.1%	$4.32	+232.7%	COM CL A	29415C101
ADEA	ADEIA INC	10,587 (-16.5%)	$183 (-14.3%)	0.1%	$9.81	+50.7%	COM	00676P107
VO	VANGUARD INDEX FDS	3,200 (-1.7%)	$929 (-2.8%)	0.3%	$279.81	—	MID CAP ETF	922908629
PANW	PALO ALTO NETWORKS INC	1,105 (-2.1%)	$204 (-11.5%)	0.1%	$129.10	+56.3%	COM	697435105
BIV	VANGUARD BD INDEX FDS	11,470 (-1.5%)	$893 (-1.7%)	0.3%	$77.34	—	INTERMED TERM	921937819
VEU	VANGUARD INTL EQUITY INDEX F	5,334 (-1.0%)	$392 (+2.0%)	0.1%	$67.22	—	ALLWRLD EX US	922042775
VB	VANGUARD INDEX FDS	1,065 (-1.3%)	$275 (+0.1%)	0.1%	$237.00	—	SMALL CP ETF	922908751

Unchanged Positions (16)

LEN LENNAR CORP 3.6%

Value ($000) $10,274 Shares 99,944 Est. Cost $107.45 Unrealized +12.3%

LEN/B LENNAR CORP 0.8%

Value ($000) $2,380 Shares 25,018 Est. Cost $77.37 Unrealized +45.7%

SE SEA LTD 0.3%

Value ($000) $829 Shares 6,500 Est. Cost $223.69 Unrealized —

MRP MILLROSE PPTYS INC 0.8%

Value ($000) $2,171 Shares 72,685 Est. Cost $26.51 Unrealized —

MS MORGAN STANLEY 0.5%

Value ($000) $1,343 Shares 7,566 Est. Cost $89.63 Unrealized +85.7%

MKL MARKEL GROUP INC 0.4%

Value ($000) $1,038 Shares 483 Est. Cost $1303.98 Unrealized +55.4%

GOOGL ALPHABET INC 0.2%

Value ($000) $433 Shares 1,382 Est. Cost $167.90 Unrealized +70.1%

BX BLACKSTONE INC 0.1%

Value ($000) $383 Shares 2,483 Est. Cost $111.30 Unrealized +36.1%

FTI TECHNIPFMC PLC 0.1%

Value ($000) $334 Shares 7,500 Est. Cost $13.30 Unrealized +217.4%

JEF JEFFERIES FINL GROUP INC 0.2%

Value ($000) $495 Shares 7,987 Est. Cost $38.87 Unrealized +45.9%

XOM EXXON MOBIL CORP 0.1%

Value ($000) $382 Shares 3,176 Est. Cost $57.87 Unrealized +99.6%

AVGO BROADCOM INC 0.1%

Value ($000) $382 Shares 1,104 Est. Cost $186.28 Unrealized +91.6%

WTI W & T OFFSHORE INC 0.0%

Value ($000) $90 Shares 55,000 Est. Cost $4.75 Unrealized -59.5%

SPG SIMON PPTY GROUP INC NEW 0.2%

Value ($000) $440 Shares 2,379 Est. Cost $93.61 Unrealized +92.3%

IWB ISHARES TR 0.1%

Value ($000) $268 Shares 717 Est. Cost $287.85 Unrealized —

MCD MCDONALDS CORP 0.1%

Value ($000) $411 Shares 1,344 Est. Cost $261.08 Unrealized +16.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LEN	LENNAR CORP	99,944	$10,274	3.6%	$107.45	+12.3%	CL A	526057104
LEN/B	LENNAR CORP	25,018	$2,380	0.8%	$77.37	+45.7%	CL B	526057302
SE	SEA LTD	6,500	$829	0.3%	$223.69	—	SPONSORD ADS	81141R100
MRP	MILLROSE PPTYS INC	72,685	$2,171	0.8%	$26.51	—	COM CL A	601137102
MS	MORGAN STANLEY	7,566	$1,343	0.5%	$89.63	+85.7%	COM NEW	617446448
MKL	MARKEL GROUP INC	483	$1,038	0.4%	$1303.98	+55.4%	COM	570535104
GOOGL	ALPHABET INC	1,382	$433	0.2%	$167.90	+70.1%	CAP STK CL A	02079K305
BX	BLACKSTONE INC	2,483	$383	0.1%	$111.30	+36.1%	COM	09260D107
FTI	TECHNIPFMC PLC	7,500	$334	0.1%	$13.30	+217.4%	COM	G87110105
JEF	JEFFERIES FINL GROUP INC	7,987	$495	0.2%	$38.87	+45.9%	COM	47233W109
XOM	EXXON MOBIL CORP	3,176	$382	0.1%	$57.87	+99.6%	COM	30231G102
AVGO	BROADCOM INC	1,104	$382	0.1%	$186.28	+91.6%	COM	11135F101
WTI	W & T OFFSHORE INC	55,000	$90	0.0%	$4.75	-59.5%	COM	92922P106
SPG	SIMON PPTY GROUP INC NEW	2,379	$440	0.2%	$93.61	+92.3%	COM	828806109
IWB	ISHARES TR	717	$268	0.1%	$287.85	—	RUS 1000 ETF	464287622
MCD	MCDONALDS CORP	1,344	$411	0.1%	$261.08	+16.9%	COM	580135101