Sage Investment Counsel LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SLM	SLM CORP	45,452	$1,230	1.4%	$27.43	0.0%	COM	78442P106
CLS	CELESTICA INC	758	$224	0.2%	$301.37	0.0%	COM	15101Q207
CIB	GRUPO CIBEST SA	3,500	$223	0.2%	$63.61	—	SPON ADS	40090E106
STT	STATE STR CORP	1,700	$219	0.2%	$118.97	0.0%	COM	857477103
WHR	WHIRLPOOL CORP	2,795	$202	0.2%	$73.83	0.0%	COM	963320106
—	COHEN & STEERS TOTAL RETURN	10,000	$111	0.1%	$11.05	—	COM	19247R103
CMBT	CMB.TECH NV	10,000	$97	0.1%	$9.72	0.0%	SHS	B38564108
AIV	APARTMENT INVT & MGMT CO	15,000	$89	0.1%	$5.94	—	CL A	03748R747

Increased Positions (12)

SPHQ INVESCO EXCHANGE TRADED FD T 1.8%

Value ($000) $1,591 (+5.1%) Shares 21,203 (+2.6%) Est. Cost $70.25 Unrealized —

O REALTY INCOME CORP 1.0%

Value ($000) $936 (-6.3%) Shares 16,602 (+1.0%) Est. Cost $54.54 Unrealized +5.2%

APO APOLLO GLOBAL MGMT INC 0.5%

Value ($000) $433 (+10.3%) Shares 2,990 (+1.6%) Est. Cost $153.83 Unrealized -13.8%

LE LANDS END INC NEW 0.3%

Value ($000) $309 (+14.5%) Shares 21,275 (+11.2%) Est. Cost $11.83 Unrealized +30.5%

SCHG SCHWAB STRATEGIC TR 0.3%

Value ($000) $312 (+13.6%) Shares 9,552 (+11.2%) Est. Cost $29.87 Unrealized —

HHH HOWARD HUGHES HOLDINGS INC 2.3%

Value ($000) $2,051 (-1.8%) Shares 25,706 (+1.2%) Est. Cost $74.98 Unrealized +10.5%

ADC AGREE RLTY CORP 0.4%

Value ($000) $400 (+9.9%) Shares 5,552 (+8.4%) Est. Cost $70.75 Unrealized —

DEO DIAGEO PLC 0.4%

Value ($000) $319 (-4.4%) Shares 3,700 (+5.7%) Est. Cost $102.40 Unrealized —

AUNA AUNA S A 0.1%

Value ($000) $79 (+17.1%) Shares 16,000 (+60.0%) Est. Cost $6.00 Unrealized -9.5%

BN BROOKFIELD CORP 2.7%

Value ($000) $2,474 (+0.4%) Shares 53,918 (+50.0%) Est. Cost $40.15 Unrealized +13.4%

SCHD SCHWAB STRATEGIC TR 0.4%

Value ($000) $338 (+2.5%) Shares 12,325 (+2.0%) Est. Cost $27.56 Unrealized —

BUR BURFORD CAP LTD 0.4%

Value ($000) $375 (-2.1%) Shares 42,000 (+31.3%) Est. Cost $12.49 Unrealized -21.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPHQ	INVESCO EXCHANGE TRADED FD T	21,203 (+2.6%)	$1,591 (+5.1%)	1.8%	$70.25	—	S&P500 QUALITY	46137V241
O	REALTY INCOME CORP	16,602 (+1.0%)	$936 (-6.3%)	1.0%	$54.54	+5.2%	COM	756109104
APO	APOLLO GLOBAL MGMT INC	2,990 (+1.6%)	$433 (+10.3%)	0.5%	$153.83	-13.8%	COM	03769M106
LE	LANDS END INC NEW	21,275 (+11.2%)	$309 (+14.5%)	0.3%	$11.83	+30.5%	COM	51509F105
SCHG	SCHWAB STRATEGIC TR	9,552 (+11.2%)	$312 (+13.6%)	0.3%	$29.87	—	US LCAP GR ETF	808524300
HHH	HOWARD HUGHES HOLDINGS INC	25,706 (+1.2%)	$2,051 (-1.8%)	2.3%	$74.98	+10.5%	COM	44267T102
ADC	AGREE RLTY CORP	5,552 (+8.4%)	$400 (+9.9%)	0.4%	$70.75	—	COM	008492100
DEO	DIAGEO PLC	3,700 (+5.7%)	$319 (-4.4%)	0.4%	$102.40	—	SPON ADR NEW	25243Q205
AUNA	AUNA S A	16,000 (+60.0%)	$79 (+17.1%)	0.1%	$6.00	-9.5%	CLASS A	L0415A103
BN	BROOKFIELD CORP	53,918 (+50.0%)	$2,474 (+0.4%)	2.7%	$40.15	+13.4%	CL A LTD VT SH	11271J107
SCHD	SCHWAB STRATEGIC TR	12,325 (+2.0%)	$338 (+2.5%)	0.4%	$27.56	—	US DIVIDEND EQ	808524797
BUR	BURFORD CAP LTD	42,000 (+31.3%)	$375 (-2.1%)	0.4%	$12.49	-21.6%	ORD SHS	G17977110

Exited Positions (8)

RIET ETF SER SOLUTIONS 0.4%

Value ($000) $405 Shares 42,032 Est. Cost $10.06 Unrealized —

ARE ALEXANDRIA REAL ESTATE EQ IN 0.3%

Value ($000) $311 Shares 3,727 Est. Cost $99.58 Unrealized -41.7%

SAFE SAFEHOLD INC 0.2%

Value ($000) $222 Shares 14,300 Est. Cost $18.13 Unrealized —

BTI BRITISH AMERN TOB PLC 0.2%

Value ($000) $212 Shares 4,000 Est. Cost $53.08 Unrealized —

BX BLACKSTONE INC 0.2%

Value ($000) $207 Shares 1,214 Est. Cost $169.47 Unrealized -10.6%

PNNT PENNANTPARK INVT CORP 0.1%

Value ($000) $114 Shares 17,000 Est. Cost $5.78 Unrealized +3.0%

UROY URANIUM RTY CORP 0.1%

Value ($000) $107 Shares 24,900 Est. Cost $2.57 Unrealized +52.3%

LAR LITHIUM ARGENTINA AG 0.0%

Value ($000) $38 Shares 11,500 Est. Cost $3.02 Unrealized +57.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RIET	ETF SER SOLUTIONS	42,032	$405	0.4%	$10.06	—	—	26922B840
ARE	ALEXANDRIA REAL ESTATE EQ IN	3,727	$311	0.3%	$99.58	-41.7%	—	015271109
SAFE	SAFEHOLD INC	14,300	$222	0.2%	$18.13	—	—	78646V107
BTI	BRITISH AMERN TOB PLC	4,000	$212	0.2%	$53.08	—	—	110448107
BX	BLACKSTONE INC	1,214	$207	0.2%	$169.47	-10.6%	—	09260D107
PNNT	PENNANTPARK INVT CORP	17,000	$114	0.1%	$5.78	+3.0%	—	708062104
UROY	URANIUM RTY CORP	24,900	$107	0.1%	$2.57	+52.3%	—	91702V101
LAR	LITHIUM ARGENTINA AG	11,500	$38	0.0%	$3.02	+57.1%	—	H5012F103

Decreased Positions (26)

SIRI SIRIUSXM HOLDINGS INC 0.2%

Value ($000) $223 (-73.1%) Shares 11,142 (-68.6%) Est. Cost $24.87 Unrealized -13.6%

LEN LENNAR CORP 1.5%

Value ($000) $1,339 (-22.0%) Shares 13,029 (-4.3%) Est. Cost $108.44 Unrealized +11.3%

AAPL APPLE INC 5.8%

Value ($000) $5,254 (+5.6%) Shares 19,324 (-1.1%) Est. Cost $233.74 Unrealized +14.8%

BRK/B BERKSHIRE HATHAWAY INC DEL 2.4%

Value ($000) $2,197 (-10.3%) Shares 4,370 (-10.3%) Est. Cost $461.73 Unrealized +7.8%

FLG FLAGSTAR BANK NATIONAL ASSOC 0.6%

Value ($000) $521 (-32.1%) Shares 41,400 (-37.7%) Est. Cost $10.99 Unrealized +8.7%

RYAAY RYANAIR HOLDINGS PLC 1.8%

Value ($000) $1,663 (+16.1%) Shares 23,034 (-3.1%) Est. Cost $44.27 Unrealized —

HTZ HERTZ GLOBAL HLDGS INC 0.4%

Value ($000) $348 (-35.5%) Shares 67,760 (-14.7%) Est. Cost $6.33 Unrealized -13.8%

SNX TD SYNNEX CORPORATION 1.5%

Value ($000) $1,367 (-11.7%) Shares 9,101 (-3.7%) Est. Cost $121.52 Unrealized +25.8%

MSFT MICROSOFT CORP 1.7%

Value ($000) $1,536 (-9.6%) Shares 3,176 (-3.2%) Est. Cost $422.35 Unrealized +18.5%

OXY OCCIDENTAL PETE CORP 0.5%

Value ($000) $424 (-25.3%) Shares 10,322 (-14.1%) Est. Cost $48.59 Unrealized -14.5%

BABA ALIBABA GROUP HLDG LTD 0.5%

Value ($000) $492 (-21.6%) Shares 3,359 (-4.4%) Est. Cost $84.79 Unrealized —

DVA DAVITA INC 0.5%

Value ($000) $458 (-16.9%) Shares 4,035 (-2.8%) Est. Cost $156.79 Unrealized -22.4%

VZ VERIZON COMMUNICATIONS INC 0.2%

Value ($000) $204 (-27.3%) Shares 5,000 (-21.6%) Est. Cost $39.40 Unrealized +2.8%

GOOGL ALPHABET INC 0.4%

Value ($000) $360 (+25.5%) Shares 1,151 (-2.5%) Est. Cost $163.29 Unrealized +74.9%

RITM RITHM CAPITAL CORP 0.6%

Value ($000) $509 (-11.9%) Shares 46,700 (-7.9%) Est. Cost $10.86 Unrealized —

OBDC BLUE OWL CAPITAL CORPORATION 0.2%

Value ($000) $147 (-29.4%) Shares 11,855 (-27.5%) Est. Cost $13.16 Unrealized -6.1%

GOOG ALPHABET INC 0.3%

Value ($000) $286 (+26.1%) Shares 911 (-2.1%) Est. Cost $209.93 Unrealized +36.4%

RTX RTX CORPORATION 0.8%

Value ($000) $682 (+8.4%) Shares 3,721 (-1.0%) Est. Cost $118.27 Unrealized +46.6%

VNQ VANGUARD INDEX FDS 0.6%

Value ($000) $588 (-5.8%) Shares 6,649 (-2.7%) Est. Cost $89.07 Unrealized —

COF CAPITAL ONE FINL CORP 0.7%

Value ($000) $630 (+5.0%) Shares 2,600 (-7.9%) Est. Cost $185.05 Unrealized +20.1%

VTV VANGUARD INDEX FDS 0.3%

Value ($000) $311 (-5.5%) Shares 1,630 (-7.6%) Est. Cost $175.21 Unrealized —

VBR VANGUARD INDEX FDS 0.6%

Value ($000) $589 (-2.0%) Shares 2,783 (-3.4%) Est. Cost $198.19 Unrealized —

EPD ENTERPRISE PRODS PARTNERS L 0.9%

Value ($000) $831 (+1.1%) Shares 25,932 (-1.4%) Est. Cost $31.36 Unrealized —

STZ CONSTELLATION BRANDS INC 0.9%

Value ($000) $794 (+1.0%) Shares 5,755 (-1.4%) Est. Cost $157.52 Unrealized -13.1%

LYG LLOYDS BANKING GROUP PLC 0.1%

Value ($000) $131 (+3.4%) Shares 24,800 (-11.4%) Est. Cost $2.72 Unrealized —

BXSL BLACKSTONE SECD LENDING FD 0.5%

Value ($000) $442 (-0.2%) Shares 16,799 (-1.2%) Est. Cost $27.77 Unrealized -6.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SIRI	SIRIUSXM HOLDINGS INC	11,142 (-68.6%)	$223 (-73.1%)	0.2%	$24.87	-13.6%	COMMON STOCK	829933100
LEN	LENNAR CORP	13,029 (-4.3%)	$1,339 (-22.0%)	1.5%	$108.44	+11.3%	CL A	526057104
AAPL	APPLE INC	19,324 (-1.1%)	$5,254 (+5.6%)	5.8%	$233.74	+14.8%	COM	037833100
BRK/B	BERKSHIRE HATHAWAY INC DEL	4,370 (-10.3%)	$2,197 (-10.3%)	2.4%	$461.73	+7.8%	CL B NEW	084670702
FLG	FLAGSTAR BANK NATIONAL ASSOC	41,400 (-37.7%)	$521 (-32.1%)	0.6%	$10.99	+8.7%	COM NEW	649445400
RYAAY	RYANAIR HOLDINGS PLC	23,034 (-3.1%)	$1,663 (+16.1%)	1.8%	$44.27	—	SPONSORED ADR	783513203
HTZ	HERTZ GLOBAL HLDGS INC	67,760 (-14.7%)	$348 (-35.5%)	0.4%	$6.33	-13.8%	COM NEW	42806J700
SNX	TD SYNNEX CORPORATION	9,101 (-3.7%)	$1,367 (-11.7%)	1.5%	$121.52	+25.8%	COM	87162W100
MSFT	MICROSOFT CORP	3,176 (-3.2%)	$1,536 (-9.6%)	1.7%	$422.35	+18.5%	COM	594918104
OXY	OCCIDENTAL PETE CORP	10,322 (-14.1%)	$424 (-25.3%)	0.5%	$48.59	-14.5%	COM	674599105
BABA	ALIBABA GROUP HLDG LTD	3,359 (-4.4%)	$492 (-21.6%)	0.5%	$84.79	—	SPONSORED ADS	01609W102
DVA	DAVITA INC	4,035 (-2.8%)	$458 (-16.9%)	0.5%	$156.79	-22.4%	COM	23918K108
VZ	VERIZON COMMUNICATIONS INC	5,000 (-21.6%)	$204 (-27.3%)	0.2%	$39.40	+2.8%	COM	92343V104
GOOGL	ALPHABET INC	1,151 (-2.5%)	$360 (+25.5%)	0.4%	$163.29	+74.9%	CAP STK CL A	02079K305
RITM	RITHM CAPITAL CORP	46,700 (-7.9%)	$509 (-11.9%)	0.6%	$10.86	—	COM NEW	64828T201
OBDC	BLUE OWL CAPITAL CORPORATION	11,855 (-27.5%)	$147 (-29.4%)	0.2%	$13.16	-6.1%	COM	69121K104
GOOG	ALPHABET INC	911 (-2.1%)	$286 (+26.1%)	0.3%	$209.93	+36.4%	CAP STK CL C	02079K107
RTX	RTX CORPORATION	3,721 (-1.0%)	$682 (+8.4%)	0.8%	$118.27	+46.6%	COM	75513E101
VNQ	VANGUARD INDEX FDS	6,649 (-2.7%)	$588 (-5.8%)	0.6%	$89.07	—	REAL ESTATE ETF	922908553
COF	CAPITAL ONE FINL CORP	2,600 (-7.9%)	$630 (+5.0%)	0.7%	$185.05	+20.1%	COM	14040H105
VTV	VANGUARD INDEX FDS	1,630 (-7.6%)	$311 (-5.5%)	0.3%	$175.21	—	VALUE ETF	922908744
VBR	VANGUARD INDEX FDS	2,783 (-3.4%)	$589 (-2.0%)	0.6%	$198.19	—	SM CP VAL ETF	922908611
EPD	ENTERPRISE PRODS PARTNERS L	25,932 (-1.4%)	$831 (+1.1%)	0.9%	$31.36	—	COM	293792107
STZ	CONSTELLATION BRANDS INC	5,755 (-1.4%)	$794 (+1.0%)	0.9%	$157.52	-13.1%	CL A	21036P108
LYG	LLOYDS BANKING GROUP PLC	24,800 (-11.4%)	$131 (+3.4%)	0.1%	$2.72	—	SPONSORED ADR	539439109
BXSL	BLACKSTONE SECD LENDING FD	16,799 (-1.2%)	$442 (-0.2%)	0.5%	$27.77	-6.1%	COMMON STOCK	09261X102

Unchanged Positions (77)

DG DOLLAR GEN CORP NEW 2.0%

Value ($000) $1,811 Shares 13,641 Est. Cost $79.05 Unrealized +41.1%

UBER UBER TECHNOLOGIES INC 1.7%

Value ($000) $1,549 Shares 18,952 Est. Cost $74.26 Unrealized +21.3%

CAT CATERPILLAR INC 1.3%

Value ($000) $1,181 Shares 2,061 Est. Cost $380.88 Unrealized +45.8%

AZO AUTOZONE INC 0.8%

Value ($000) $695 Shares 205 Est. Cost $3166.27 Unrealized +19.3%

CB CHUBB LIMITED 1.8%

Value ($000) $1,641 Shares 5,258 Est. Cost $280.35 Unrealized +4.3%

OMF ONEMAIN HLDGS INC 0.9%

Value ($000) $831 Shares 12,304 Est. Cost $51.85 Unrealized +17.3%

— PINNACLE FINL PARTNERS INC 7.9%

Value ($000) $7,184 Shares 75,296 Est. Cost $114.39 Unrealized —

HD HOME DEPOT INC 0.7%

Value ($000) $638 Shares 1,854 Est. Cost $397.26 Unrealized -8.2%

BAC BANK AMERICA CORP 1.8%

Value ($000) $1,665 Shares 30,281 Est. Cost $42.83 Unrealized +23.0%

CAAP CORPORACION AMER ARPTS S A 0.4%

Value ($000) $322 Shares 12,400 Est. Cost $19.04 Unrealized +17.6%

FCX FREEPORT-MCMORAN INC 0.5%

Value ($000) $422 Shares 8,300 Est. Cost $44.04 Unrealized -1.6%

ET ENERGY TRANSFER L P 2.4%

Value ($000) $2,223 Shares 134,809 Est. Cost $19.59 Unrealized —

FDX FEDEX CORP 0.5%

Value ($000) $448 Shares 1,550 Est. Cost $271.73 Unrealized -3.7%

WTM WHITE MTNS INS GROUP LTD 0.5%

Value ($000) $416 Shares 200 Est. Cost $1889.39 Unrealized +3.5%

PAC GRUPO AEROPUERTO DEL PACIFIC 0.8%

Value ($000) $722 Shares 2,740 Est. Cost $174.99 Unrealized —

JHG JANUS HENDERSON GROUP PLC 1.2%

Value ($000) $1,118 Shares 23,493 Est. Cost $40.57 Unrealized +9.0%

AMZN AMAZON COM INC 1.5%

Value ($000) $1,319 Shares 5,714 Est. Cost $199.41 Unrealized +14.7%

ENB ENBRIDGE INC 1.4%

Value ($000) $1,280 Shares 26,767 Est. Cost $39.21 Unrealized +20.2%

BIP BROOKFIELD INFRAST PARTNERS 1.4%

Value ($000) $1,313 Shares 37,803 Est. Cost $31.79 Unrealized —

XOM EXXON MOBIL CORP 1.1%

Value ($000) $965 Shares 8,017 Est. Cost $112.36 Unrealized +2.8%

USB US BANCORP DEL 0.7%

Value ($000) $643 Shares 12,045 Est. Cost $46.63 Unrealized +4.5%

META META PLATFORMS INC 0.5%

Value ($000) $490 Shares 742 Est. Cost $584.74 Unrealized +14.1%

JOE ST JOE CO 0.3%

Value ($000) $309 Shares 5,200 Est. Cost $46.81 Unrealized +19.7%

CSCO CISCO SYS INC 0.5%

Value ($000) $454 Shares 5,894 Est. Cost $55.37 Unrealized +33.3%

VICI VICI PPTYS INC 0.3%

Value ($000) $305 Shares 10,847 Est. Cost $29.47 Unrealized -0.6%

V VISA INC 2.0%

Value ($000) $1,800 Shares 5,133 Est. Cost $298.33 Unrealized +14.1%

KOF COCA-COLA FEMSA SAB DE CV 0.4%

Value ($000) $331 Shares 3,500 Est. Cost $77.89 Unrealized —

ABEV AMBEV SA 0.4%

Value ($000) $409 Shares 165,500 Est. Cost $2.01 Unrealized —

JPM JPMORGAN CHASE & CO. 1.9%

Value ($000) $1,754 Shares 5,442 Est. Cost $228.03 Unrealized +35.7%

VT VANGUARD INTL EQUITY INDEX F 1.6%

Value ($000) $1,462 Shares 10,365 Est. Cost $117.65 Unrealized —

OMAB GRUPO AEROPORTUARIO DEL CENT 0.8%

Value ($000) $761 Shares 7,000 Est. Cost $68.64 Unrealized —

VTI VANGUARD INDEX FDS 1.4%

Value ($000) $1,242 Shares 3,704 Est. Cost $290.96 Unrealized —

CTO CTO RLTY GROWTH INC NEW 0.3%

Value ($000) $252 Shares 13,700 Est. Cost $19.71 Unrealized —

VOO VANGUARD INDEX FDS 1.2%

Value ($000) $1,092 Shares 1,741 Est. Cost $540.78 Unrealized —

TSLX SIXTH STREET SPECIALTY LENDI 0.6%

Value ($000) $538 Shares 24,777 Est. Cost $20.75 Unrealized +5.1%

HR HEALTHCARE RLTY TR 0.5%

Value ($000) $437 Shares 25,759 Est. Cost $16.95 Unrealized —

CNQ CANADIAN NAT RES LTD 0.5%

Value ($000) $467 Shares 13,800 Est. Cost $32.47 Unrealized -0.1%

BEP BROOKFIELD RENEWABLE PARTNER 0.7%

Value ($000) $591 Shares 21,925 Est. Cost $22.78 Unrealized —

AVAL GRUPO AVAL ACCIONES Y VALORE 0.2%

Value ($000) $138 Shares 34,000 Est. Cost $2.42 Unrealized —

TFSL TFS FINL CORP 1.7%

Value ($000) $1,563 Shares 116,828 Est. Cost $12.04 Unrealized +12.2%

WMT WALMART INC 0.4%

Value ($000) $334 Shares 2,998 Est. Cost $85.80 Unrealized +24.9%

TFC TRUIST FINL CORP 0.4%

Value ($000) $345 Shares 7,014 Est. Cost $42.32 Unrealized +8.2%

HCA HCA HEALTHCARE INC 0.3%

Value ($000) $249 Shares 532 Est. Cost $358.58 Unrealized +29.3%

SU SUNCOR ENERGY INC NEW 0.4%

Value ($000) $373 Shares 8,400 Est. Cost $37.36 Unrealized +13.1%

— BLACKROCK HEALTH SCIENCES TR 0.2%

Value ($000) $222 Shares 5,400 Est. Cost $37.23 Unrealized —

LOW LOWES COS INC 0.5%

Value ($000) $454 Shares 1,881 Est. Cost $259.82 Unrealized -7.7%

VCLT VANGUARD SCOTTSDALE FDS 0.8%

Value ($000) $708 Shares 9,340 Est. Cost $76.67 Unrealized —

AVGO BROADCOM INC 0.4%

Value ($000) $343 Shares 990 Est. Cost $215.92 Unrealized +65.3%

VXUS VANGUARD STAR FDS 0.6%

Value ($000) $543 Shares 7,198 Est. Cost $59.05 Unrealized —

SCHY SCHWAB STRATEGIC TR 0.2%

Value ($000) $222 Shares 7,435 Est. Cost $27.35 Unrealized —

LAC LITHIUM AMERS CORP NEW 0.0%

Value ($000) $44 Shares 10,000 Est. Cost $3.47 Unrealized +66.6%

F FORD MTR CO 0.1%

Value ($000) $131 Shares 10,000 Est. Cost $9.87 Unrealized +30.0%

FDUS FIDUS INVT CORP 0.3%

Value ($000) $233 Shares 12,070 Est. Cost $17.78 Unrealized +9.3%

NTR NUTRIEN LTD 0.2%

Value ($000) $222 Shares 3,600 Est. Cost $55.98 Unrealized +5.1%

SB SAFE BULKERS INC 0.1%

Value ($000) $121 Shares 25,000 Est. Cost $4.18 Unrealized +13.6%

EC ECOPETROL S A 0.1%

Value ($000) $115 Shares 11,500 Est. Cost $7.92 Unrealized —

SMRT SMARTRENT INC 0.0%

Value ($000) $30 Shares 15,000 Est. Cost $1.41 Unrealized +15.8%

RF REGIONS FINANCIAL CORP NEW 0.4%

Value ($000) $337 Shares 12,446 Est. Cost $23.54 Unrealized +7.8%

LMT LOCKHEED MARTIN CORP 0.3%

Value ($000) $278 Shares 575 Est. Cost $527.20 Unrealized -9.7%

ECL ECOLAB INC 0.2%

Value ($000) $205 Shares 780 Est. Cost $252.35 Unrealized +5.3%

NU NU HLDGS LTD 0.2%

Value ($000) $184 Shares 11,000 Est. Cost $13.95 Unrealized +15.2%

MTB M & T BK CORP 0.4%

Value ($000) $370 Shares 1,837 Est. Cost $192.14 Unrealized -1.1%

AHH ARMADA HOFFLER PPTYS INC 0.1%

Value ($000) $118 Shares 17,800 Est. Cost $7.30 Unrealized —

UNP UNION PAC CORP 0.3%

Value ($000) $305 Shares 1,318 Est. Cost $230.22 Unrealized -1.3%

CVX CHEVRON CORP NEW 0.2%

Value ($000) $214 Shares 1,404 Est. Cost $145.50 Unrealized +4.1%

FIP FTAI INFRASTRUCTURE INC 0.1%

Value ($000) $69 Shares 15,000 Est. Cost $5.36 Unrealized -8.4%

VWO VANGUARD INTL EQUITY INDEX F 0.5%

Value ($000) $447 Shares 8,320 Est. Cost $44.17 Unrealized —

CW CURTISS WRIGHT CORP 0.2%

Value ($000) $216 Shares 392 Est. Cost $492.21 Unrealized +13.3%

BRK/A BERKSHIRE HATHAWAY INC DEL 3.3%

Value ($000) $3,019 Shares 4 Est. Cost $692527.00 Unrealized +7.8%

VTEL VANGUARD MUN BD FDS 0.3%

Value ($000) $311 Shares 3,000 Est. Cost $102.85 Unrealized —

LADR LADDER CAP CORP 0.3%

Value ($000) $285 Shares 25,948 Est. Cost $11.09 Unrealized —

ARCC ARES CAPITAL CORP 0.3%

Value ($000) $231 Shares 11,420 Est. Cost $19.38 Unrealized +2.1%

DIS DISNEY WALT CO 0.3%

Value ($000) $305 Shares 2,681 Est. Cost $103.52 Unrealized +5.8%

VCIT VANGUARD SCOTTSDALE FDS 0.5%

Value ($000) $452 Shares 5,395 Est. Cost $81.93 Unrealized —

MA MASTERCARD INCORPORATED 0.4%

Value ($000) $363 Shares 635 Est. Cost $514.68 Unrealized +8.6%

EUSA ISHARES INC 1.2%

Value ($000) $1,066 Shares 10,310 Est. Cost $95.71 Unrealized —

NVDA NVIDIA CORPORATION 0.3%

Value ($000) $314 Shares 1,684 Est. Cost $125.82 Unrealized +47.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DG	DOLLAR GEN CORP NEW	13,641	$1,811	2.0%	$79.05	+41.1%	COM	256677105
UBER	UBER TECHNOLOGIES INC	18,952	$1,549	1.7%	$74.26	+21.3%	COM	90353T100
CAT	CATERPILLAR INC	2,061	$1,181	1.3%	$380.88	+45.8%	COM	149123101
AZO	AUTOZONE INC	205	$695	0.8%	$3166.27	+19.3%	COM	053332102
CB	CHUBB LIMITED	5,258	$1,641	1.8%	$280.35	+4.3%	COM	H1467J104
OMF	ONEMAIN HLDGS INC	12,304	$831	0.9%	$51.85	+17.3%	COM	68268W103
—	PINNACLE FINL PARTNERS INC	75,296	$7,184	7.9%	$114.39	—	COM	72346Q104
HD	HOME DEPOT INC	1,854	$638	0.7%	$397.26	-8.2%	COM	437076102
BAC	BANK AMERICA CORP	30,281	$1,665	1.8%	$42.83	+23.0%	COM	060505104
CAAP	CORPORACION AMER ARPTS S A	12,400	$322	0.4%	$19.04	+17.6%	COM	L1995B107
FCX	FREEPORT-MCMORAN INC	8,300	$422	0.5%	$44.04	-1.6%	CL B	35671D857
ET	ENERGY TRANSFER L P	134,809	$2,223	2.4%	$19.59	—	COM UT LTD PTN	29273V100
FDX	FEDEX CORP	1,550	$448	0.5%	$271.73	-3.7%	COM	31428X106
WTM	WHITE MTNS INS GROUP LTD	200	$416	0.5%	$1889.39	+3.5%	COM	G9618E107
PAC	GRUPO AEROPUERTO DEL PACIFIC	2,740	$722	0.8%	$174.99	—	SPON ADS B	400506101
JHG	JANUS HENDERSON GROUP PLC	23,493	$1,118	1.2%	$40.57	+9.0%	ORD SHS	G4474Y214
AMZN	AMAZON COM INC	5,714	$1,319	1.5%	$199.41	+14.7%	COM	023135106
ENB	ENBRIDGE INC	26,767	$1,280	1.4%	$39.21	+20.2%	COM	29250N105
BIP	BROOKFIELD INFRAST PARTNERS	37,803	$1,313	1.4%	$31.79	—	LP INT UNIT	G16252101
XOM	EXXON MOBIL CORP	8,017	$965	1.1%	$112.36	+2.8%	COM	30231G102
USB	US BANCORP DEL	12,045	$643	0.7%	$46.63	+4.5%	COM NEW	902973304
META	META PLATFORMS INC	742	$490	0.5%	$584.74	+14.1%	CL A	30303M102
JOE	ST JOE CO	5,200	$309	0.3%	$46.81	+19.7%	COM	790148100
CSCO	CISCO SYS INC	5,894	$454	0.5%	$55.37	+33.3%	COM	17275R102
VICI	VICI PPTYS INC	10,847	$305	0.3%	$29.47	-0.6%	COM	925652109
V	VISA INC	5,133	$1,800	2.0%	$298.33	+14.1%	COM CL A	92826C839
KOF	COCA-COLA FEMSA SAB DE CV	3,500	$331	0.4%	$77.89	—	SPONS ADS REP	191241108
ABEV	AMBEV SA	165,500	$409	0.4%	$2.01	—	SPONSORED ADR	02319V103
JPM	JPMORGAN CHASE & CO.	5,442	$1,754	1.9%	$228.03	+35.7%	COM	46625H100
VT	VANGUARD INTL EQUITY INDEX F	10,365	$1,462	1.6%	$117.65	—	TT WRLD ST ETF	922042742
OMAB	GRUPO AEROPORTUARIO DEL CENT	7,000	$761	0.8%	$68.64	—	SPON ADR	400501102
VTI	VANGUARD INDEX FDS	3,704	$1,242	1.4%	$290.96	—	TOTAL STK MKT	922908769
CTO	CTO RLTY GROWTH INC NEW	13,700	$252	0.3%	$19.71	—	COM	22948Q101
VOO	VANGUARD INDEX FDS	1,741	$1,092	1.2%	$540.78	—	S&P 500 ETF SHS	922908363
TSLX	SIXTH STREET SPECIALTY LENDI	24,777	$538	0.6%	$20.75	+5.1%	COM	83012A109
HR	HEALTHCARE RLTY TR	25,759	$437	0.5%	$16.95	—	CL A COM	42226K105
CNQ	CANADIAN NAT RES LTD	13,800	$467	0.5%	$32.47	-0.1%	COM	136385101
BEP	BROOKFIELD RENEWABLE PARTNER	21,925	$591	0.7%	$22.78	—	PARTNERSHIP UNIT	G16258108
AVAL	GRUPO AVAL ACCIONES Y VALORE	34,000	$138	0.2%	$2.42	—	SPONSORED ADS	40053W101
TFSL	TFS FINL CORP	116,828	$1,563	1.7%	$12.04	+12.2%	COM	87240R107
WMT	WALMART INC	2,998	$334	0.4%	$85.80	+24.9%	COM	931142103
TFC	TRUIST FINL CORP	7,014	$345	0.4%	$42.32	+8.2%	COM	89832Q109
HCA	HCA HEALTHCARE INC	532	$249	0.3%	$358.58	+29.3%	COM	40412C101
SU	SUNCOR ENERGY INC NEW	8,400	$373	0.4%	$37.36	+13.1%	COM	867224107
—	BLACKROCK HEALTH SCIENCES TR	5,400	$222	0.2%	$37.23	—	COM	09250W107
LOW	LOWES COS INC	1,881	$454	0.5%	$259.82	-7.7%	COM	548661107
VCLT	VANGUARD SCOTTSDALE FDS	9,340	$708	0.8%	$76.67	—	LG-TERM COR BD	92206C813
AVGO	BROADCOM INC	990	$343	0.4%	$215.92	+65.3%	COM	11135F101
VXUS	VANGUARD STAR FDS	7,198	$543	0.6%	$59.05	—	VG TL INTL STK F	921909768
SCHY	SCHWAB STRATEGIC TR	7,435	$222	0.2%	$27.35	—	INTERNL DIVID	808524672
LAC	LITHIUM AMERS CORP NEW	10,000	$44	0.0%	$3.47	+66.6%	COM SHS	53681J103
F	FORD MTR CO	10,000	$131	0.1%	$9.87	+30.0%	COM	345370860
FDUS	FIDUS INVT CORP	12,070	$233	0.3%	$17.78	+9.3%	COM	316500107
NTR	NUTRIEN LTD	3,600	$222	0.2%	$55.98	+5.1%	COM	67077M108
SB	SAFE BULKERS INC	25,000	$121	0.1%	$4.18	+13.6%	COM	Y7388L103
EC	ECOPETROL S A	11,500	$115	0.1%	$7.92	—	SPONSORED ADS	279158109
SMRT	SMARTRENT INC	15,000	$30	0.0%	$1.41	+15.8%	COM CL A	83193G107
RF	REGIONS FINANCIAL CORP NEW	12,446	$337	0.4%	$23.54	+7.8%	COM	7591EP100
LMT	LOCKHEED MARTIN CORP	575	$278	0.3%	$527.20	-9.7%	COM	539830109
ECL	ECOLAB INC	780	$205	0.2%	$252.35	+5.3%	COM	278865100
NU	NU HLDGS LTD	11,000	$184	0.2%	$13.95	+15.2%	ORD SHS CL A	G6683N103
MTB	M & T BK CORP	1,837	$370	0.4%	$192.14	-1.1%	COM	55261F104
AHH	ARMADA HOFFLER PPTYS INC	17,800	$118	0.1%	$7.30	—	COM	04208T108
UNP	UNION PAC CORP	1,318	$305	0.3%	$230.22	-1.3%	COM	907818108
CVX	CHEVRON CORP NEW	1,404	$214	0.2%	$145.50	+4.1%	COM	166764100
FIP	FTAI INFRASTRUCTURE INC	15,000	$69	0.1%	$5.36	-8.4%	COMMON STOCK	35953C106
VWO	VANGUARD INTL EQUITY INDEX F	8,320	$447	0.5%	$44.17	—	FTSE EMR MKT ETF	922042858
CW	CURTISS WRIGHT CORP	392	$216	0.2%	$492.21	+13.3%	COM	231561101
BRK/A	BERKSHIRE HATHAWAY INC DEL	4	$3,019	3.3%	$692527.00	+7.8%	CL A	084670108
VTEL	VANGUARD MUN BD FDS	3,000	$311	0.3%	$102.85	—	LONG TERM TAX EX	922907688
LADR	LADDER CAP CORP	25,948	$285	0.3%	$11.09	—	CL A	505743104
ARCC	ARES CAPITAL CORP	11,420	$231	0.3%	$19.38	+2.1%	COM	04010L103
DIS	DISNEY WALT CO	2,681	$305	0.3%	$103.52	+5.8%	COM	254687106
VCIT	VANGUARD SCOTTSDALE FDS	5,395	$452	0.5%	$81.93	—	INT-TERM CORP	92206C870
MA	MASTERCARD INCORPORATED	635	$363	0.4%	$514.68	+8.6%	CL A	57636Q104
EUSA	ISHARES INC	10,310	$1,066	1.2%	$95.71	—	MSCI EQUAL WEITE	464286681
NVDA	NVIDIA CORPORATION	1,684	$314	0.3%	$125.82	+47.9%	COM	67066G104