SAGE ADVISORS, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ENB	ENBRIDGE INC	77,851	$3,724	2.5%	$47.11	0.0%	COM	29250N105
PWR	QUANTA SVCS INC	2,974	$1,255	0.8%	$439.27	0.0%	COM	74762E102
SGOV	ISHARES TR	7,751	$778	0.5%	$100.38	—	0-3 MNTH TREASRY	46436E718
IEF	ISHARES TR	8,008	$770	0.5%	$96.16	—	7-10 YR TRSY BD	464287440
TLT	ISHARES TR	7,061	$615	0.4%	$87.16	—	20 YR TR BD ETF	464287432
IGSB	ISHARES TR	10,953	$579	0.4%	$52.88	—	ISHS 1-5YR INVS	464288646
IGIB	ISHARES TR	10,716	$577	0.4%	$53.88	—	ISHS 5-10YR INVT	464288638
IGLB	ISHARES TR	11,267	$568	0.4%	$50.45	—	10+ YR INVST GRD	464289511
RKT	ROCKET COS INC	27,240	$527	0.3%	$17.88	0.0%	COM CL A	77311W101
CAT	CATERPILLAR INC	584	$334	0.2%	$555.50	0.0%	COM	149123101
BACQ	INFLECTION POINT ACQUISITION	23,135	$248	0.2%	$10.87	0.0%	SHS CL A	G1169T104
GLD	SPDR GOLD TR	553	$219	0.1%	$396.31	—	GOLD SHS	78463V107
MCK	MCKESSON CORP	266	$218	0.1%	$815.57	0.0%	COM	58155Q103
VELO	VELO3D INC	11,251	$155	0.1%	$13.74	—	COM NEW	92259N302
RDW	REDWIRE CORPORATION	10,363	$79	0.1%	$7.34	0.0%	COM	75776W103

Increased Positions (19)

NLY ANNALY CAPITAL MANAGEMENT IN 4.8%

Value ($000) $7,167 (+81.4%) Shares 320,533 (+63.9%) Est. Cost $21.05 Unrealized —

HTGC HERCULES CAPITAL INC 1.5%

Value ($000) $2,258 (+105.8%) Shares 119,974 (+106.7%) Est. Cost $18.58 Unrealized -2.9%

AMZN AMAZON COM INC 4.4%

Value ($000) $6,681 (+16.1%) Shares 28,943 (+10.4%) Est. Cost $177.89 Unrealized +28.6%

JPM JPMORGAN CHASE & CO. 0.7%

Value ($000) $1,019 (+122.3%) Shares 3,161 (+117.5%) Est. Cost $293.44 Unrealized +5.5%

ASTS AST SPACEMOBILE INC 0.5%

Value ($000) $697 (+88.8%) Shares 9,603 (+27.6%) Est. Cost $38.31 Unrealized +86.3%

QQQ INVESCO QQQ TR 1.6%

Value ($000) $2,446 (+14.5%) Shares 3,982 (+11.9%) Est. Cost $510.60 Unrealized —

GOOGL ALPHABET INC 0.6%

Value ($000) $889 (+52.8%) Shares 2,840 (+18.6%) Est. Cost $199.62 Unrealized +43.1%

DIA SPDR DOW JONES INDL AVERAGE 1.5%

Value ($000) $2,226 (+14.3%) Shares 4,631 (+10.3%) Est. Cost $417.67 Unrealized —

OHI OMEGA HEALTHCARE INVS INC 0.4%

Value ($000) $588 (+59.2%) Shares 13,257 (+51.6%) Est. Cost $42.94 Unrealized —

SPY SPDR S&P 500 ETF TR 1.7%

Value ($000) $2,615 (+8.8%) Shares 3,835 (+6.3%) Est. Cost $545.08 Unrealized —

TSLA TESLA INC 0.4%

Value ($000) $622 (+36.8%) Shares 1,384 (+35.3%) Est. Cost $363.22 Unrealized +22.0%

NVDA NVIDIA CORPORATION 2.5%

Value ($000) $3,821 (+3.0%) Shares 20,486 (+3.0%) Est. Cost $113.11 Unrealized +64.6%

MSFT MICROSOFT CORP 1.2%

Value ($000) $1,841 (-5.3%) Shares 3,808 (+1.4%) Est. Cost $400.21 Unrealized +25.1%

MO ALTRIA GROUP INC 2.8%

Value ($000) $4,248 (-1.9%) Shares 73,670 (+12.4%) Est. Cost $51.66 Unrealized +14.9%

NEE NEXTERA ENERGY INC 0.2%

Value ($000) $318 (+26.2%) Shares 3,958 (+18.6%) Est. Cost $58.02 Unrealized +42.2%

GLXY GALAXY DIGITAL INC. 0.3%

Value ($000) $399 (+11.9%) Shares 17,863 (+69.1%) Est. Cost $24.67 Unrealized +25.6%

ARES ARES MANAGEMENT CORPORATION 0.4%

Value ($000) $543 (+6.3%) Shares 3,360 (+5.2%) Est. Cost $166.69 Unrealized -7.0%

META META PLATFORMS INC 1.3%

Value ($000) $1,981 (+0.8%) Shares 3,001 (+12.1%) Est. Cost $471.40 Unrealized +41.6%

OWL BLUE OWL CAPITAL INC 0.3%

Value ($000) $413 (+1.4%) Shares 27,641 (+15.0%) Est. Cost $21.56 Unrealized -27.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NLY	ANNALY CAPITAL MANAGEMENT IN	320,533 (+63.9%)	$7,167 (+81.4%)	4.8%	$21.05	—	COM NEW	035710839
HTGC	HERCULES CAPITAL INC	119,974 (+106.7%)	$2,258 (+105.8%)	1.5%	$18.58	-2.9%	COM	427096508
AMZN	AMAZON COM INC	28,943 (+10.4%)	$6,681 (+16.1%)	4.4%	$177.89	+28.6%	COM	023135106
JPM	JPMORGAN CHASE & CO.	3,161 (+117.5%)	$1,019 (+122.3%)	0.7%	$293.44	+5.5%	COM	46625H100
ASTS	AST SPACEMOBILE INC	9,603 (+27.6%)	$697 (+88.8%)	0.5%	$38.31	+86.3%	COM CL A	00217D100
QQQ	INVESCO QQQ TR	3,982 (+11.9%)	$2,446 (+14.5%)	1.6%	$510.60	—	UNIT SER 1	46090E103
GOOGL	ALPHABET INC	2,840 (+18.6%)	$889 (+52.8%)	0.6%	$199.62	+43.1%	CAP STK CL A	02079K305
DIA	SPDR DOW JONES INDL AVERAGE	4,631 (+10.3%)	$2,226 (+14.3%)	1.5%	$417.67	—	UT SER 1	78467X109
OHI	OMEGA HEALTHCARE INVS INC	13,257 (+51.6%)	$588 (+59.2%)	0.4%	$42.94	—	COM	681936100
SPY	SPDR S&P 500 ETF TR	3,835 (+6.3%)	$2,615 (+8.8%)	1.7%	$545.08	—	TR UNIT	78462F103
TSLA	TESLA INC	1,384 (+35.3%)	$622 (+36.8%)	0.4%	$363.22	+22.0%	COM	88160R101
NVDA	NVIDIA CORPORATION	20,486 (+3.0%)	$3,821 (+3.0%)	2.5%	$113.11	+64.6%	COM	67066G104
MSFT	MICROSOFT CORP	3,808 (+1.4%)	$1,841 (-5.3%)	1.2%	$400.21	+25.1%	COM	594918104
MO	ALTRIA GROUP INC	73,670 (+12.4%)	$4,248 (-1.9%)	2.8%	$51.66	+14.9%	COM	02209S103
NEE	NEXTERA ENERGY INC	3,958 (+18.6%)	$318 (+26.2%)	0.2%	$58.02	+42.2%	COM	65339F101
GLXY	GALAXY DIGITAL INC.	17,863 (+69.1%)	$399 (+11.9%)	0.3%	$24.67	+25.6%	CL A	36317J209
ARES	ARES MANAGEMENT CORPORATION	3,360 (+5.2%)	$543 (+6.3%)	0.4%	$166.69	-7.0%	CL A COM STK	03990B101
META	META PLATFORMS INC	3,001 (+12.1%)	$1,981 (+0.8%)	1.3%	$471.40	+41.6%	CL A	30303M102
OWL	BLUE OWL CAPITAL INC	27,641 (+15.0%)	$413 (+1.4%)	0.3%	$21.56	-27.5%	COM CL A	09581B103

Exited Positions (6)

OKE ONEOK INC NEW 2.7%

Value ($000) $4,004 Shares 54,873 Est. Cost $64.81 Unrealized +8.7%

COIN COINBASE GLOBAL INC 0.3%

Value ($000) $416 Shares 1,232 Est. Cost $242.13 Unrealized +23.1%

CRM SALESFORCE INC 0.2%

Value ($000) $249 Shares 1,051 Est. Cost $309.01 Unrealized -19.7%

ORCL ORACLE CORP 0.2%

Value ($000) $244 Shares 868 Est. Cost $254.17 Unrealized -6.3%

SKBL SKYLINE BLDRS GROUP HLDG LTD 0.0%

Value ($000) $49 Shares 14,462 Est. Cost $1.95 Unrealized +53.4%

LAES SEALSQ CORP 0.0%

Value ($000) $43 Shares 11,439 Est. Cost $3.23 Unrealized +57.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OKE	ONEOK INC NEW	54,873	$4,004	2.7%	$64.81	+8.7%	—	682680103
COIN	COINBASE GLOBAL INC	1,232	$416	0.3%	$242.13	+23.1%	—	19260Q107
CRM	SALESFORCE INC	1,051	$249	0.2%	$309.01	-19.7%	—	79466L302
ORCL	ORACLE CORP	868	$244	0.2%	$254.17	-6.3%	—	68389X105
SKBL	SKYLINE BLDRS GROUP HLDG LTD	14,462	$49	0.0%	$1.95	+53.4%	—	G8193D104
LAES	SEALSQ CORP	11,439	$43	0.0%	$3.23	+57.8%	—	G79483106

Decreased Positions (9)

OBDC BLUE OWL CAPITAL CORPORATION 17.0%

Value ($000) $25,630 (-8.9%) Shares 2,061,949 (-6.4%) Est. Cost $11.48 Unrealized +7.6%

ARCC ARES CAPITAL CORP 12.8%

Value ($000) $19,331 (-8.4%) Shares 955,548 (-7.6%) Est. Cost $16.92 Unrealized +17.0%

FSK FS KKR CAP CORP 1.2%

Value ($000) $1,777 (-49.3%) Shares 119,967 (-48.9%) Est. Cost $19.10 Unrealized -23.0%

COST COSTCO WHSL CORP NEW 0.2%

Value ($000) $318 (-76.1%) Shares 369 (-74.3%) Est. Cost $771.77 Unrealized +17.4%

BNL BROADSTONE NET LEASE INC 9.9%

Value ($000) $14,978 (-5.7%) Shares 862,316 (-3.0%) Est. Cost $17.27 Unrealized —

AAPL APPLE INC 4.7%

Value ($000) $7,147 (+4.9%) Shares 26,291 (-1.7%) Est. Cost $185.37 Unrealized +44.8%

HPQ HP INC 0.4%

Value ($000) $567 (-28.9%) Shares 25,450 (-13.0%) Est. Cost $25.75 Unrealized -1.9%

BRK/B BERKSHIRE HATHAWAY INC DEL 3.3%

Value ($000) $4,907 (-4.1%) Shares 9,763 (-4.0%) Est. Cost $385.51 Unrealized +29.1%

EPD ENTERPRISE PRODS PARTNERS L 0.4%

Value ($000) $564 (-23.2%) Shares 17,583 (-25.1%) Est. Cost $26.72 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OBDC	BLUE OWL CAPITAL CORPORATION	2,061,949 (-6.4%)	$25,630 (-8.9%)	17.0%	$11.48	+7.6%	COM	69121K104
ARCC	ARES CAPITAL CORP	955,548 (-7.6%)	$19,331 (-8.4%)	12.8%	$16.92	+17.0%	COM	04010L103
FSK	FS KKR CAP CORP	119,967 (-48.9%)	$1,777 (-49.3%)	1.2%	$19.10	-23.0%	COM	302635206
COST	COSTCO WHSL CORP NEW	369 (-74.3%)	$318 (-76.1%)	0.2%	$771.77	+17.4%	COM	22160K105
BNL	BROADSTONE NET LEASE INC	862,316 (-3.0%)	$14,978 (-5.7%)	9.9%	$17.27	—	COM	11135E203
AAPL	APPLE INC	26,291 (-1.7%)	$7,147 (+4.9%)	4.7%	$185.37	+44.8%	COM	037833100
HPQ	HP INC	25,450 (-13.0%)	$567 (-28.9%)	0.4%	$25.75	-1.9%	COM	40434L105
BRK/B	BERKSHIRE HATHAWAY INC DEL	9,763 (-4.0%)	$4,907 (-4.1%)	3.3%	$385.51	+29.1%	CL B NEW	084670702
EPD	ENTERPRISE PRODS PARTNERS L	17,583 (-25.1%)	$564 (-23.2%)	0.4%	$26.72	—	COM	293792107

Unchanged Positions (5)

LLY ELI LILLY & CO 13.8%

Value ($000) $20,845 Shares 19,397 Est. Cost $607.42 Unrealized +57.3%

IBM INTERNATIONAL BUSINESS MACHS 1.0%

Value ($000) $1,574 Shares 5,313 Est. Cost $154.68 Unrealized +93.2%

BLK BLACKROCK INC 0.3%

Value ($000) $477 Shares 446 Est. Cost $991.05 Unrealized +9.9%

AVGO BROADCOM INC 0.4%

Value ($000) $619 Shares 1,789 Est. Cost $168.56 Unrealized +111.8%

HPE HEWLETT PACKARD ENTERPRISE C 0.5%

Value ($000) $681 Shares 28,355 Est. Cost $15.35 Unrealized +52.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LLY	ELI LILLY & CO	19,397	$20,845	13.8%	$607.42	+57.3%	COM	532457108
IBM	INTERNATIONAL BUSINESS MACHS	5,313	$1,574	1.0%	$154.68	+93.2%	COM	459200101
BLK	BLACKROCK INC	446	$477	0.3%	$991.05	+9.9%	COM	09290D101
AVGO	BROADCOM INC	1,789	$619	0.4%	$168.56	+111.8%	COM	11135F101
HPE	HEWLETT PACKARD ENTERPRISE C	28,355	$681	0.5%	$15.35	+52.6%	COM	42824C109