Sovereign Investment Advisors, LLC Long-Term Concentrated

CIK: 0001908165 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $399,786 (100.0% shares, 0.0% debt)

Holdings (39)

New Positions (5)

IVW ISHARES TR 1.3%

Value ($000) $5,216 Shares 42,316 Est. Cost $123.26 Unrealized —

IDEV ISHARES TR 1.2%

Value ($000) $4,778 Shares 57,927 Est. Cost $82.48 Unrealized —

IUSB ISHARES TR 0.2%

Value ($000) $841 Shares 18,067 Est. Cost $46.54 Unrealized —

VTHR VANGUARD SCOTTSDALE FDS 0.2%

Value ($000) $646 Shares 2,152 Est. Cost $300.33 Unrealized —

EEM ISHARES TR 0.1%

Value ($000) $306 Shares 5,601 Est. Cost $54.71 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVW	ISHARES TR	42,316	$5,216	1.3%	$123.26	—	S&P 500 GRWT ETF	464287309
IDEV	ISHARES TR	57,927	$4,778	1.2%	$82.48	—	CORE MSCI INTL	46435G326
IUSB	ISHARES TR	18,067	$841	0.2%	$46.54	—	CORE UNIVRSL USD	46434V613
VTHR	VANGUARD SCOTTSDALE FDS	2,152	$646	0.2%	$300.33	—	VNG RUS3000IDX	92206C599
EEM	ISHARES TR	5,601	$306	0.1%	$54.71	—	MSCI EMG MKT ETF	464287234

Increased Positions (13)

QQQ INVESCO QQQ TR 7.7%

Value ($000) $30,902 (+6922.0%) Shares 50,303 (+6762.6%) Est. Cost $613.41 Unrealized —

IEMG ISHARES INC 3.3%

Value ($000) $13,004 (+151.4%) Shares 193,455 (+146.6%) Est. Cost $61.68 Unrealized —

IVV ISHARES TR 15.5%

Value ($000) $62,081 (+12.6%) Shares 90,638 (+10.0%) Est. Cost $407.92 Unrealized —

SPY SPDR S&P 500 ETF TR 4.8%

Value ($000) $19,371 (+34.4%) Shares 28,349 (+31.0%) Est. Cost $655.53 Unrealized —

IEFA ISHARES TR 7.2%

Value ($000) $28,737 (+16.5%) Shares 321,228 (+13.7%) Est. Cost $71.42 Unrealized —

BKGI BNY MELLON ETF TRUST 6.9%

Value ($000) $27,616 (+12.9%) Shares 681,004 (+8.4%) Est. Cost $35.38 Unrealized —

BIL SPDR SERIES TRUST 1.5%

Value ($000) $5,889 (+30.4%) Shares 64,447 (+30.9%) Est. Cost $91.48 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 0.4%

Value ($000) $1,568 (+22.4%) Shares 19,667 (+22.7%) Est. Cost $77.10 Unrealized —

VXUS VANGUARD STAR FDS 1.1%

Value ($000) $4,543 (+4.1%) Shares 60,218 (+1.4%) Est. Cost $58.40 Unrealized —

VMBS VANGUARD SCOTTSDALE FDS 2.0%

Value ($000) $8,048 (+1.5%) Shares 170,933 (+1.3%) Est. Cost $52.38 Unrealized —

BIV VANGUARD BD INDEX FDS 1.7%

Value ($000) $6,676 (+1.1%) Shares 85,720 (+1.4%) Est. Cost $86.83 Unrealized —

JNK SPDR SERIES TRUST 1.2%

Value ($000) $4,765 (+1.4%) Shares 49,017 (+2.2%) Est. Cost $105.53 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 0.4%

Value ($000) $1,541 (+1.1%) Shares 28,670 (+1.9%) Est. Cost $44.56 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	50,303 (+6762.6%)	$30,902 (+6922.0%)	7.7%	$613.41	—	UNIT SER 1	46090E103
IEMG	ISHARES INC	193,455 (+146.6%)	$13,004 (+151.4%)	3.3%	$61.68	—	CORE MSCI EMKT	46434G103
IVV	ISHARES TR	90,638 (+10.0%)	$62,081 (+12.6%)	15.5%	$407.92	—	CORE S&P500 ETF	464287200
SPY	SPDR S&P 500 ETF TR	28,349 (+31.0%)	$19,371 (+34.4%)	4.8%	$655.53	—	TR UNIT	78462F103
IEFA	ISHARES TR	321,228 (+13.7%)	$28,737 (+16.5%)	7.2%	$71.42	—	CORE MSCI EAFE	46432F842
BKGI	BNY MELLON ETF TRUST	681,004 (+8.4%)	$27,616 (+12.9%)	6.9%	$35.38	—	GLOBAL INFRASCTR	09661T826
BIL	SPDR SERIES TRUST	64,447 (+30.9%)	$5,889 (+30.4%)	1.5%	$91.48	—	STATE STREET SPD	78468R663
VCSH	VANGUARD SCOTTSDALE FDS	19,667 (+22.7%)	$1,568 (+22.4%)	0.4%	$77.10	—	SHRT TRM CORP BD	92206C409
VXUS	VANGUARD STAR FDS	60,218 (+1.4%)	$4,543 (+4.1%)	1.1%	$58.40	—	VG TL INTL STK F	921909768
VMBS	VANGUARD SCOTTSDALE FDS	170,933 (+1.3%)	$8,048 (+1.5%)	2.0%	$52.38	—	MTG-BKD SECS ETF	92206C771
BIV	VANGUARD BD INDEX FDS	85,720 (+1.4%)	$6,676 (+1.1%)	1.7%	$86.83	—	INTERMED TERM	921937819
JNK	SPDR SERIES TRUST	49,017 (+2.2%)	$4,765 (+1.4%)	1.2%	$105.53	—	STATE STREET SPD	78468R622
VWO	VANGUARD INTL EQUITY INDEX F	28,670 (+1.9%)	$1,541 (+1.1%)	0.4%	$44.56	—	FTSE EMR MKT ETF	922042858

Exited Positions (1)

HYG ISHARES TR 0.1%

Value ($000) $513 Shares 6,324 Est. Cost $87.51 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	6,324	$513	0.1%	$87.51	—	—	464288513

Decreased Positions (10)

USMV ISHARES TR 3.6%

Value ($000) $14,494 (-66.1%) Shares 153,932 (-65.8%) Est. Cost $77.43 Unrealized —

JAAA JANUS DETROIT STR TR 3.2%

Value ($000) $12,989 (-29.6%) Shares 256,802 (-29.3%) Est. Cost $50.34 Unrealized —

VNLA JANUS DETROIT STR TR 7.1%

Value ($000) $28,405 (-9.7%) Shares 578,033 (-9.4%) Est. Cost $49.54 Unrealized —

SMTH ALPS ETF TR 2.3%

Value ($000) $9,117 (-9.6%) Shares 349,695 (-9.3%) Est. Cost $25.89 Unrealized —

SPLV INVESCO EXCH TRADED FD TR II 0.7%

Value ($000) $2,672 (-25.5%) Shares 37,409 (-23.4%) Est. Cost $59.26 Unrealized —

VTI VANGUARD INDEX FDS 2.5%

Value ($000) $10,027 (-1.6%) Shares 29,908 (-3.7%) Est. Cost $174.96 Unrealized —

DFAS DIMENSIONAL ETF TRUST 0.1%

Value ($000) $386 (-17.7%) Shares 5,546 (-19.2%) Est. Cost $63.71 Unrealized —

TRP TC ENERGY CORP 0.7%

Value ($000) $2,931 (-2.5%) Shares 52,566 (-4.9%) Est. Cost $34.41 Unrealized +55.0%

SOBO SOUTH BOW CORP 0.1%

Value ($000) $295 (-5.7%) Shares 10,513 (-4.9%) Est. Cost $24.96 Unrealized +8.8%

SUN SUNOCO LP/SUNOCO FIN CORP 0.5%

Value ($000) $2,170 (-0.3%) Shares 41,400 (-4.9%) Est. Cost $53.59 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
USMV	ISHARES TR	153,932 (-65.8%)	$14,494 (-66.1%)	3.6%	$77.43	—	MSCI USA MIN VOL	46429B697
JAAA	JANUS DETROIT STR TR	256,802 (-29.3%)	$12,989 (-29.6%)	3.2%	$50.34	—	HENDRSON AAA CL	47103U845
VNLA	JANUS DETROIT STR TR	578,033 (-9.4%)	$28,405 (-9.7%)	7.1%	$49.54	—	HENDRSN SHRT ETF	47103U886
SMTH	ALPS ETF TR	349,695 (-9.3%)	$9,117 (-9.6%)	2.3%	$25.89	—	SMITH CORE PLUS	00162Q346
SPLV	INVESCO EXCH TRADED FD TR II	37,409 (-23.4%)	$2,672 (-25.5%)	0.7%	$59.26	—	S&P500 LOW VOL	46138E354
VTI	VANGUARD INDEX FDS	29,908 (-3.7%)	$10,027 (-1.6%)	2.5%	$174.96	—	TOTAL STK MKT	922908769
DFAS	DIMENSIONAL ETF TRUST	5,546 (-19.2%)	$386 (-17.7%)	0.1%	$63.71	—	US SMALL CAP ETF	25434V500
TRP	TC ENERGY CORP	52,566 (-4.9%)	$2,931 (-2.5%)	0.7%	$34.41	+55.0%	COM	87807B107
SOBO	SOUTH BOW CORP	10,513 (-4.9%)	$295 (-5.7%)	0.1%	$24.96	+8.8%	COM	83671M105
SUN	SUNOCO LP/SUNOCO FIN CORP	41,400 (-4.9%)	$2,170 (-0.3%)	0.5%	$53.59	—	COM UT REP LP	86765K109

Unchanged Positions (11)

MPLX MPLX LP 5.0%

Value ($000) $19,865 Shares 372,208 Est. Cost $15.74 Unrealized —

PAA PLAINS ALL AMERN PIPELINE L 2.4%

Value ($000) $9,454 Shares 526,412 Est. Cost $5.98 Unrealized —

PSX PHILLIPS 66 1.4%

Value ($000) $5,412 Shares 41,941 Est. Cost $72.84 Unrealized +84.0%

EPD ENTERPRISE PRODS PARTNERS L 2.7%

Value ($000) $10,606 Shares 330,808 Est. Cost $15.79 Unrealized —

LVHD LEGG MASON ETF INVT 1.5%

Value ($000) $6,115 Shares 151,971 Est. Cost $34.48 Unrealized —

BND VANGUARD BD INDEX FDS 2.9%

Value ($000) $11,792 Shares 159,200 Est. Cost $82.67 Unrealized —

OKE ONEOK INC NEW 1.8%

Value ($000) $7,012 Shares 95,402 Est. Cost $57.97 Unrealized +21.5%

AGG ISHARES TR 1.7%

Value ($000) $6,863 Shares 68,708 Est. Cost $111.20 Unrealized —

WES WESTERN MIDSTREAM PARTNERS L 2.7%

Value ($000) $10,791 Shares 273,192 Est. Cost $8.00 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.1%

Value ($000) $219 Shares 1,143 Est. Cost $181.74 Unrealized —

IJT ISHARES TR 0.4%

Value ($000) $1,644 Shares 11,649 Est. Cost $188.59 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MPLX	MPLX LP	372,208	$19,865	5.0%	$15.74	—	COM UNIT REP LTD	55336V100
PAA	PLAINS ALL AMERN PIPELINE L	526,412	$9,454	2.4%	$5.98	—	UNIT LTD PARTN	726503105
PSX	PHILLIPS 66	41,941	$5,412	1.4%	$72.84	+84.0%	COM	718546104
EPD	ENTERPRISE PRODS PARTNERS L	330,808	$10,606	2.7%	$15.79	—	COM	293792107
LVHD	LEGG MASON ETF INVT	151,971	$6,115	1.5%	$34.48	—	FRANKLIN US LOW	52468L406
BND	VANGUARD BD INDEX FDS	159,200	$11,792	2.9%	$82.67	—	TOTAL BND MRKT	921937835
OKE	ONEOK INC NEW	95,402	$7,012	1.8%	$57.97	+21.5%	COM	682680103
AGG	ISHARES TR	68,708	$6,863	1.7%	$111.20	—	CORE US AGGBD ET	464287226
WES	WESTERN MIDSTREAM PARTNERS L	273,192	$10,791	2.7%	$8.00	—	COM UNIT LP INT	958669103
RSP	INVESCO EXCHANGE TRADED FD T	1,143	$219	0.1%	$181.74	—	S&P500 EQL WGT	46137V357
IJT	ISHARES TR	11,649	$1,644	0.4%	$188.59	—	S&P SML 600 GWT	464287887