Gallagher Capital Advisors, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IJJ	ISHARES TR	28,883	$3,512	2.3%	$121.61	—	S&P MC 400VL ETF	464287705
IJR	ISHARES TR	27,106	$3,258	2.1%	$120.18	—	CORE S&P SCP ETF	464287804
VUG	VANGUARD INDEX FDS	5,751	$2,829	1.8%	$491.96	—	GROWTH ETF	922908736
VB	VANGUARD INDEX FDS	7,676	$2,253	1.5%	$293.46	—	SMALL CP ETF	922908751
STPZ	PIMCO ETF TR	13,939	$597	0.4%	$42.81	—	1-5 US TIP IDX	72201R205
BAC	BANK AMERICA CORP	10,783	$593	0.4%	$52.67	0.0%	COM	060505104
WFC	WELLS FARGO CO NEW	5,765	$538	0.3%	$86.63	0.0%	COM	949746101
IOO	ISHARES TR	3,996	$506	0.3%	$126.66	—	GLOBAL 100 ETF	464287572
PNNT	PENNANTPARK INVT CORP	70,826	$422	0.3%	$5.95	0.0%	COM	708062104
TSM	TAIWAN SEMICONDUCTOR MFG LTD	753	$229	0.1%	$303.89	—	SPONSORED ADS	874039100
VTV	VANGUARD INDEX FDS	1,090	$209	0.1%	$191.48	—	VALUE ETF	922908744

Increased Positions (9)

NFLX NETFLIX INC 1.7%

Value ($000) $2,602 (+141.9%) Shares 27,755 (+2740.8%) Est. Cost $108.31 Unrealized -0.5%

VIG VANGUARD SPECIALIZED FUNDS 0.2%

Value ($000) $366 (-58.2%) Shares 1,661 (+50.6%) Est. Cost $204.09 Unrealized —

PSX PHILLIPS 66 0.4%

Value ($000) $671 (+163.6%) Shares 35,857 (+1816.5%) Est. Cost $133.38 Unrealized +0.5%

IDV ISHARES TR 1.5%

Value ($000) $2,271 (+18.2%) Shares 57,559 (+11.9%) Est. Cost $35.88 Unrealized —

VOO VANGUARD INDEX FDS 0.4%

Value ($000) $542 (+136.8%) Shares 859 (+135.3%) Est. Cost $629.02 Unrealized —

NOW SERVICENOW INC 1.9%

Value ($000) $2,967 (-5.6%) Shares 19,367 (+448.6%) Est. Cost $177.20 Unrealized -3.2%

IAT ISHARES TR 0.3%

Value ($000) $528 (+14.0%) Shares 9,568 (+1.0%) Est. Cost $48.96 Unrealized —

TTD THE TRADE DESK INC 0.2%

Value ($000) $269 (-15.7%) Shares 7,048 (+7.9%) Est. Cost $113.63 Unrealized -61.0%

META META PLATFORMS INC 0.9%

Value ($000) $1,328 (-0.9%) Shares 2,012 (+1.6%) Est. Cost $742.02 Unrealized -10.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC	27,755 (+2740.8%)	$2,602 (+141.9%)	1.7%	$108.31	-0.5%	COM	64110L106
VIG	VANGUARD SPECIALIZED FUNDS	1,661 (+50.6%)	$366 (-58.2%)	0.2%	$204.09	—	DIV APP ETF	921908844
PSX	PHILLIPS 66	35,857 (+1816.5%)	$671 (+163.6%)	0.4%	$133.38	+0.5%	COM	718546104
IDV	ISHARES TR	57,559 (+11.9%)	$2,271 (+18.2%)	1.5%	$35.88	—	INTL SEL DIV ETF	464288448
VOO	VANGUARD INDEX FDS	859 (+135.3%)	$542 (+136.8%)	0.4%	$629.02	—	S&P 500 ETF SHS	922908363
NOW	SERVICENOW INC	19,367 (+448.6%)	$2,967 (-5.6%)	1.9%	$177.20	-3.2%	COM	81762P102
IAT	ISHARES TR	9,568 (+1.0%)	$528 (+14.0%)	0.3%	$48.96	—	US REGNL BKS ETF	464288778
TTD	THE TRADE DESK INC	7,048 (+7.9%)	$269 (-15.7%)	0.2%	$113.63	-61.0%	COM CL A	88339J105
META	META PLATFORMS INC	2,012 (+1.6%)	$1,328 (-0.9%)	0.9%	$742.02	-10.1%	CL A	30303M102

Exited Positions (13)

HDV ISHARES TR 2.3%

Value ($000) $3,619 Shares 30,600 Est. Cost $114.64 Unrealized —

VGT VANGUARD WORLD FD 1.9%

Value ($000) $2,907 Shares 6,149 Est. Cost $512.28 Unrealized —

VEEV VEEVA SYS INC 1.1%

Value ($000) $1,684 Shares 5,881 Est. Cost $219.92 Unrealized +20.7%

BA BOEING CO 0.5%

Value ($000) $733 Shares 12,842 Est. Cost $189.70 Unrealized +8.4%

IYF ISHARES TR 0.3%

Value ($000) $525 Shares 5,965 Est. Cost $83.85 Unrealized —

PNTG PENNANT GROUP INC 0.3%

Value ($000) $458 Shares 70,826 Est. Cost $24.53 Unrealized +8.5%

SCM STELLUS CAP INVT CORP 0.3%

Value ($000) $406 Shares 34,000 Est. Cost $14.41 Unrealized -14.9%

LUV SOUTHWEST AIRLS CO 0.2%

Value ($000) $372 Shares 2,212 Est. Cost $29.68 Unrealized +17.2%

CVX CHEVRON CORP NEW 0.2%

Value ($000) $322 Shares 1,876 Est. Cost $152.28 Unrealized -0.6%

INTU INTUIT 0.2%

Value ($000) $311 Shares 2,456 Est. Cost $719.44 Unrealized -8.2%

PYPL PAYPAL HLDGS INC 0.2%

Value ($000) $275 Shares 4,900 Est. Cost $80.28 Unrealized -19.2%

— ATOSSA THERAPEUTICS INC 0.0%

Value ($000) $27 Shares 31,575 Est. Cost $0.87 Unrealized —

SKYX SKYX PLATFORMS CORP 0.0%

Value ($000) $25 Shares 15,000 Est. Cost $1.14 Unrealized +57.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HDV	ISHARES TR	30,600	$3,619	2.3%	$114.64	—	—	46429B663
VGT	VANGUARD WORLD FD	6,149	$2,907	1.9%	$512.28	—	—	92204A702
VEEV	VEEVA SYS INC	5,881	$1,684	1.1%	$219.92	+20.7%	—	922475108
BA	BOEING CO	12,842	$733	0.5%	$189.70	+8.4%	—	097023105
IYF	ISHARES TR	5,965	$525	0.3%	$83.85	—	—	464287788
PNTG	PENNANT GROUP INC	70,826	$458	0.3%	$24.53	+8.5%	—	70805E109
SCM	STELLUS CAP INVT CORP	34,000	$406	0.3%	$14.41	-14.9%	—	858568108
LUV	SOUTHWEST AIRLS CO	2,212	$372	0.2%	$29.68	+17.2%	—	844741108
CVX	CHEVRON CORP NEW	1,876	$322	0.2%	$152.28	-0.6%	—	166764100
INTU	INTUIT	2,456	$311	0.2%	$719.44	-8.2%	—	461202103
PYPL	PAYPAL HLDGS INC	4,900	$275	0.2%	$80.28	-19.2%	—	70450Y103
—	ATOSSA THERAPEUTICS INC	31,575	$27	0.0%	$0.87	—	—	04962H506
SKYX	SKYX PLATFORMS CORP	15,000	$25	0.0%	$1.14	+57.1%	—	78471E105

Decreased Positions (27)

IJH ISHARES TR 8.8%

Value ($000) $13,626 (-17.8%) Shares 206,458 (-13.0%) Est. Cost $65.61 Unrealized —

IVW ISHARES TR 12.8%

Value ($000) $19,759 (-6.2%) Shares 160,301 (-4.8%) Est. Cost $111.05 Unrealized —

NVDA NVIDIA CORPORATION 4.9%

Value ($000) $7,599 (-11.5%) Shares 40,743 (-1.5%) Est. Cost $133.62 Unrealized +39.3%

SNOW SNOWFLAKE INC 1.8%

Value ($000) $2,834 (-23.8%) Shares 11,641 (-13.3%) Est. Cost $141.67 Unrealized +72.3%

PLTR PALANTIR TECHNOLOGIES INC 1.0%

Value ($000) $1,470 (-33.0%) Shares 8,272 (-23.4%) Est. Cost $118.05 Unrealized +53.4%

MSFT MICROSOFT CORP 3.8%

Value ($000) $5,813 (-9.6%) Shares 12,019 (-2.3%) Est. Cost $422.35 Unrealized +18.5%

CRM SALESFORCE INC 0.3%

Value ($000) $463 (-48.5%) Shares 1,747 (-49.8%) Est. Cost $316.59 Unrealized -21.6%

IYW ISHARES TR 3.4%

Value ($000) $5,308 (-6.9%) Shares 26,585 (-2.6%) Est. Cost $179.37 Unrealized —

VO VANGUARD INDEX FDS 0.4%

Value ($000) $570 (-29.7%) Shares 1,957 (-30.3%) Est. Cost $264.04 Unrealized —

VYM VANGUARD WHITEHALL FDS 3.7%

Value ($000) $5,771 (-3.5%) Shares 40,007 (-4.6%) Est. Cost $128.20 Unrealized —

AMZN AMAZON COM INC 2.9%

Value ($000) $4,462 (-4.4%) Shares 19,332 (-5.7%) Est. Cost $204.80 Unrealized +11.7%

PFE PFIZER INC 2.2%

Value ($000) $3,453 (-4.7%) Shares 138,678 (-5.8%) Est. Cost $25.12 Unrealized -0.3%

BABA ALIBABA GROUP HLDG LTD 0.2%

Value ($000) $247 (-34.4%) Shares 1,685 (-24.9%) Est. Cost $84.79 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.2%

Value ($000) $299 (-18.1%) Shares 340 (-26.9%) Est. Cost $544.86 Unrealized +49.3%

DVY ISHARES TR 2.9%

Value ($000) $4,480 (-1.3%) Shares 31,743 (-3.8%) Est. Cost $135.06 Unrealized —

VZ VERIZON COMMUNICATIONS INC 1.1%

Value ($000) $1,758 (-3.1%) Shares 43,171 (-6.9%) Est. Cost $39.48 Unrealized +2.5%

GOOGL ALPHABET INC 0.6%

Value ($000) $854 (+6.6%) Shares 2,729 (-4.0%) Est. Cost $174.96 Unrealized +63.2%

LMT LOCKHEED MARTIN CORP 0.6%

Value ($000) $855 (-4.2%) Shares 1,768 (-3.7%) Est. Cost $527.20 Unrealized -9.7%

BRK/B BERKSHIRE HATHAWAY INC DEL 1.7%

Value ($000) $2,669 (+1.2%) Shares 5,310 (-4.6%) Est. Cost $461.73 Unrealized +7.8%

NVO NOVO-NORDISK A S 0.2%

Value ($000) $318 (-7.7%) Shares 6,248 (-11.8%) Est. Cost $81.82 Unrealized —

AAPL APPLE INC 5.2%

Value ($000) $8,049 (+0.3%) Shares 29,606 (-2.0%) Est. Cost $231.04 Unrealized +16.1%

SHOP SHOPIFY INC 0.2%

Value ($000) $239 (-7.7%) Shares 1,483 (-2.2%) Est. Cost $135.57 Unrealized +18.4%

JPM JPMORGAN CHASE & CO. 2.4%

Value ($000) $3,728 (-0.4%) Shares 11,570 (-4.7%) Est. Cost $228.03 Unrealized +35.7%

FANG DIAMONDBACK ENERGY INC 0.2%

Value ($000) $332 (-3.9%) Shares 2,208 (-5.2%) Est. Cost $170.91 Unrealized -14.0%

ISRG INTUITIVE SURGICAL INC 1.7%

Value ($000) $2,690 (-0.5%) Shares 4,750 (-6.5%) Est. Cost $520.85 Unrealized +2.2%

COP CONOCOPHILLIPS 0.1%

Value ($000) $211 (+5.0%) Shares 2,254 (-1.3%) Est. Cost $102.31 Unrealized -12.0%

PG PROCTER AND GAMBLE CO 0.1%

Value ($000) $203 (-2.6%) Shares 1,414 (-9.5%) Est. Cost $165.73 Unrealized -11.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IJH	ISHARES TR	206,458 (-13.0%)	$13,626 (-17.8%)	8.8%	$65.61	—	CORE S&P MCP ETF	464287507
IVW	ISHARES TR	160,301 (-4.8%)	$19,759 (-6.2%)	12.8%	$111.05	—	S&P 500 GRWT ETF	464287309
NVDA	NVIDIA CORPORATION	40,743 (-1.5%)	$7,599 (-11.5%)	4.9%	$133.62	+39.3%	COM	67066G104
SNOW	SNOWFLAKE INC	11,641 (-13.3%)	$2,834 (-23.8%)	1.8%	$141.67	+72.3%	COM SHS	833445109
PLTR	PALANTIR TECHNOLOGIES INC	8,272 (-23.4%)	$1,470 (-33.0%)	1.0%	$118.05	+53.4%	CL A	69608A108
MSFT	MICROSOFT CORP	12,019 (-2.3%)	$5,813 (-9.6%)	3.8%	$422.35	+18.5%	COM	594918104
CRM	SALESFORCE INC	1,747 (-49.8%)	$463 (-48.5%)	0.3%	$316.59	-21.6%	COM	79466L302
IYW	ISHARES TR	26,585 (-2.6%)	$5,308 (-6.9%)	3.4%	$179.37	—	U.S. TECH ETF	464287721
VO	VANGUARD INDEX FDS	1,957 (-30.3%)	$570 (-29.7%)	0.4%	$264.04	—	MID CAP ETF	922908629
VYM	VANGUARD WHITEHALL FDS	40,007 (-4.6%)	$5,771 (-3.5%)	3.7%	$128.20	—	HIGH DIV YLD	921946406
AMZN	AMAZON COM INC	19,332 (-5.7%)	$4,462 (-4.4%)	2.9%	$204.80	+11.7%	COM	023135106
PFE	PFIZER INC	138,678 (-5.8%)	$3,453 (-4.7%)	2.2%	$25.12	-0.3%	COM	717081103
BABA	ALIBABA GROUP HLDG LTD	1,685 (-24.9%)	$247 (-34.4%)	0.2%	$84.79	—	SPONSORED ADS	01609W102
GS	GOLDMAN SACHS GROUP INC	340 (-26.9%)	$299 (-18.1%)	0.2%	$544.86	+49.3%	COM	38141G104
DVY	ISHARES TR	31,743 (-3.8%)	$4,480 (-1.3%)	2.9%	$135.06	—	SELECT DIVID ETF	464287168
VZ	VERIZON COMMUNICATIONS INC	43,171 (-6.9%)	$1,758 (-3.1%)	1.1%	$39.48	+2.5%	COM	92343V104
GOOGL	ALPHABET INC	2,729 (-4.0%)	$854 (+6.6%)	0.6%	$174.96	+63.2%	CAP STK CL A	02079K305
LMT	LOCKHEED MARTIN CORP	1,768 (-3.7%)	$855 (-4.2%)	0.6%	$527.20	-9.7%	COM	539830109
BRK/B	BERKSHIRE HATHAWAY INC DEL	5,310 (-4.6%)	$2,669 (+1.2%)	1.7%	$461.73	+7.8%	CL B NEW	084670702
NVO	NOVO-NORDISK A S	6,248 (-11.8%)	$318 (-7.7%)	0.2%	$81.82	—	ADR	670100205
AAPL	APPLE INC	29,606 (-2.0%)	$8,049 (+0.3%)	5.2%	$231.04	+16.1%	COM	037833100
SHOP	SHOPIFY INC	1,483 (-2.2%)	$239 (-7.7%)	0.2%	$135.57	+18.4%	CL A SUB VTG SHS	82509L107
JPM	JPMORGAN CHASE & CO.	11,570 (-4.7%)	$3,728 (-0.4%)	2.4%	$228.03	+35.7%	COM	46625H100
FANG	DIAMONDBACK ENERGY INC	2,208 (-5.2%)	$332 (-3.9%)	0.2%	$170.91	-14.0%	COM	25278X109
ISRG	INTUITIVE SURGICAL INC	4,750 (-6.5%)	$2,690 (-0.5%)	1.7%	$520.85	+2.2%	COM NEW	46120E602
COP	CONOCOPHILLIPS	2,254 (-1.3%)	$211 (+5.0%)	0.1%	$102.31	-12.0%	COM	20825C104
PG	PROCTER AND GAMBLE CO	1,414 (-9.5%)	$203 (-2.6%)	0.1%	$165.73	-11.2%	COM	742718109

Unchanged Positions (20)

IVV ISHARES TR 4.5%

Value ($000) $6,935 Shares 10,125 Est. Cost $590.72 Unrealized —

UBER UBER TECHNOLOGIES INC 0.1%

Value ($000) $132 Shares 16,131 Est. Cost $72.04 Unrealized +25.0%

LLY ELI LILLY & CO 1.3%

Value ($000) $2,008 Shares 1,868 Est. Cost $781.74 Unrealized +22.2%

WMT WALMART INC 1.5%

Value ($000) $2,345 Shares 21,050 Est. Cost $85.80 Unrealized +24.9%

TSLA TESLA INC 0.2%

Value ($000) $326 Shares 1,188 Est. Cost $324.73 Unrealized +36.5%

COST COSTCO WHSL CORP NEW 2.2%

Value ($000) $3,458 Shares 4,010 Est. Cost $936.19 Unrealized -3.3%

MS MORGAN STANLEY 1.2%

Value ($000) $1,837 Shares 10,098 Est. Cost $119.76 Unrealized +39.0%

BX BLACKSTONE INC 1.9%

Value ($000) $2,894 Shares 18,775 Est. Cost $152.15 Unrealized -0.5%

USB US BANCORP DEL 0.6%

Value ($000) $951 Shares 16,948 Est. Cost $46.54 Unrealized +4.7%

V VISA INC 2.5%

Value ($000) $3,896 Shares 11,135 Est. Cost $298.33 Unrealized +14.1%

DELL DELL TECHNOLOGIES INC 0.2%

Value ($000) $341 Shares 2,713 Est. Cost $129.18 Unrealized +9.0%

AMD ADVANCED MICRO DEVICES INC 0.2%

Value ($000) $361 Shares 1,687 Est. Cost $161.38 Unrealized +39.2%

BRK/A BERKSHIRE HATHAWAY INC DEL 0.5%

Value ($000) $750 Shares 1 Est. Cost $729330.75 Unrealized +2.3%

SPY SPDR S&P 500 ETF TR 0.3%

Value ($000) $424 Shares 675 Est. Cost $604.36 Unrealized —

AVGO BROADCOM INC 0.4%

Value ($000) $650 Shares 1,877 Est. Cost $183.69 Unrealized +94.3%

XOM EXXON MOBIL CORP 0.4%

Value ($000) $580 Shares 4,816 Est. Cost $112.36 Unrealized +2.8%

IVE ISHARES TR 0.7%

Value ($000) $1,012 Shares 4,773 Est. Cost $190.88 Unrealized —

XLP SELECT SECTOR SPDR TR 0.4%

Value ($000) $614 Shares 7,908 Est. Cost $78.61 Unrealized —

GD GENERAL DYNAMICS CORP 0.3%

Value ($000) $427 Shares 1,268 Est. Cost $313.76 Unrealized +8.6%

ITA ISHARES TR 0.2%

Value ($000) $264 Shares 1,231 Est. Cost $197.82 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVV	ISHARES TR	10,125	$6,935	4.5%	$590.72	—	CORE S&P500 ETF	464287200
UBER	UBER TECHNOLOGIES INC	16,131	$132	0.1%	$72.04	+25.0%	COM	90353T100
LLY	ELI LILLY & CO	1,868	$2,008	1.3%	$781.74	+22.2%	COM	532457108
WMT	WALMART INC	21,050	$2,345	1.5%	$85.80	+24.9%	COM	931142103
TSLA	TESLA INC	1,188	$326	0.2%	$324.73	+36.5%	COM	88160R101
COST	COSTCO WHSL CORP NEW	4,010	$3,458	2.2%	$936.19	-3.3%	COM	22160K105
MS	MORGAN STANLEY	10,098	$1,837	1.2%	$119.76	+39.0%	COM NEW	617446448
BX	BLACKSTONE INC	18,775	$2,894	1.9%	$152.15	-0.5%	COM	09260D107
USB	US BANCORP DEL	16,948	$951	0.6%	$46.54	+4.7%	COM NEW	902973304
V	VISA INC	11,135	$3,896	2.5%	$298.33	+14.1%	COM CL A	92826C839
DELL	DELL TECHNOLOGIES INC	2,713	$341	0.2%	$129.18	+9.0%	CL C	24703L202
AMD	ADVANCED MICRO DEVICES INC	1,687	$361	0.2%	$161.38	+39.2%	COM	007903107
BRK/A	BERKSHIRE HATHAWAY INC DEL	1	$750	0.5%	$729330.75	+2.3%	CL A	084670108
SPY	SPDR S&P 500 ETF TR	675	$424	0.3%	$604.36	—	TR UNIT	78462F103
AVGO	BROADCOM INC	1,877	$650	0.4%	$183.69	+94.3%	COM	11135F101
XOM	EXXON MOBIL CORP	4,816	$580	0.4%	$112.36	+2.8%	COM	30231G102
IVE	ISHARES TR	4,773	$1,012	0.7%	$190.88	—	S&P 500 VAL ETF	464287408
XLP	SELECT SECTOR SPDR TR	7,908	$614	0.4%	$78.61	—	STATE STREET CON	81369Y308
GD	GENERAL DYNAMICS CORP	1,268	$427	0.3%	$313.76	+8.6%	COM	369550108
ITA	ISHARES TR	1,231	$264	0.2%	$197.82	—	US AER DEF ETF	464288760