BIRCH FINANCIAL GROUP, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MO	ALTRIA GROUP INC	10,948	$631	0.4%	$59.36	0.0%	COM	02209S103
AIG	AMERICAN INTL GROUP INC	6,944	$594	0.3%	$79.68	0.0%	COM NEW	026874784
CME	CME GROUP INC	1,680	$459	0.3%	$270.74	0.0%	COM	12572Q105
DUK	DUKE ENERGY CORP NEW	3,210	$376	0.2%	$121.57	0.0%	COM NEW	26441C204
CINF	CINCINNATI FINL CORP	2,128	$348	0.2%	$161.22	0.0%	COM	172062101
GOLY	STRATEGY SHS	9,814	$343	0.2%	$34.95	—	GOLD ENHANCED ET	86280R878
EXC	EXELON CORP	7,143	$311	0.2%	$45.46	0.0%	COM	30161N101
XEL	XCEL ENERGY INC	3,856	$285	0.2%	$78.29	0.0%	COM	98389B100
EXAS	EXACT SCIENCES CORP	2,661	$270	0.2%	$80.31	0.0%	COM	30063P105
KR	KROGER CO	4,161	$260	0.1%	$65.22	0.0%	COM	501044101
ELV	ELEVANCE HEALTH INC FORMERLY	707	$248	0.1%	$336.70	0.0%	COM	036752103
TQQQ	PROSHARES TR	4,562	$241	0.1%	$52.72	—	ULTRAPRO QQQ	74347X831
CNP	CENTERPOINT ENERGY INC	6,062	$232	0.1%	$38.86	0.0%	COM	15189T107
FDX	FEDEX CORP	755	$218	0.1%	$261.56	0.0%	COM	31428X106
KLAC	KLA CORP	176	$214	0.1%	$1171.91	0.0%	COM NEW	482480100
QQQM	INVESCO EXCH TRADED FD TR II	834	$211	0.1%	$252.97	—	NASDAQ 100 ETF	46138G649
AXSM	AXSOME THERAPEUTICS INC	1,097	$200	0.1%	$139.61	0.0%	COM	05464T104

Increased Positions (55)

PM PHILIP MORRIS INTL INC 1.0%

Value ($000) $1,684 (+36.9%) Shares 10,498 (+38.5%) Est. Cost $149.41 Unrealized +2.8%

VOO VANGUARD INDEX FDS 5.2%

Value ($000) $9,076 (+4.7%) Shares 14,473 (+2.2%) Est. Cost $533.45 Unrealized —

XOM EXXON MOBIL CORP 0.5%

Value ($000) $866 (+81.6%) Shares 7,198 (+70.1%) Est. Cost $112.91 Unrealized +2.3%

IBM INTERNATIONAL BUSINESS MACHS 0.4%

Value ($000) $697 (+119.6%) Shares 2,355 (+109.1%) Est. Cost $271.52 Unrealized +10.0%

ORCL ORACLE CORP 0.5%

Value ($000) $909 (-29.4%) Shares 4,664 (+1.8%) Est. Cost $177.36 Unrealized +34.2%

VZ VERIZON COMMUNICATIONS INC 0.6%

Value ($000) $1,008 (+58.8%) Shares 24,738 (+71.3%) Est. Cost $40.57 Unrealized -0.2%

SOUN SOUNDHOUND AI INC 0.5%

Value ($000) $953 (+57.5%) Shares 95,580 (+154.1%) Est. Cost $13.95 Unrealized +3.2%

KO COCA COLA CO 0.3%

Value ($000) $493 (+97.8%) Shares 7,046 (+87.7%) Est. Cost $66.71 Unrealized +4.0%

PGR PROGRESSIVE CORP 0.4%

Value ($000) $735 (+49.5%) Shares 3,226 (+62.1%) Est. Cost $237.51 Unrealized -10.6%

AEP AMERICAN ELEC PWR CO INC 0.3%

Value ($000) $556 (+76.8%) Shares 4,825 (+72.5%) Est. Cost $106.68 Unrealized +10.3%

CI THE CIGNA GROUP 0.3%

Value ($000) $518 (+86.1%) Shares 1,880 (+94.8%) Est. Cost $297.50 Unrealized -6.1%

VEA VANGUARD TAX-MANAGED FDS 2.0%

Value ($000) $3,466 (+7.2%) Shares 55,490 (+2.8%) Est. Cost $50.24 Unrealized —

NFLX NETFLIX INC 0.5%

Value ($000) $911 (-15.8%) Shares 9,719 (+976.3%) Est. Cost $107.26 Unrealized +0.5%

MSFT MICROSOFT CORP 2.6%

Value ($000) $4,638 (-3.5%) Shares 9,589 (+3.4%) Est. Cost $426.74 Unrealized +17.3%

IJR ISHARES TR 1.6%

Value ($000) $2,734 (+5.3%) Shares 22,752 (+4.1%) Est. Cost $109.25 Unrealized —

AMD ADVANCED MICRO DEVICES INC 0.3%

Value ($000) $464 (+39.8%) Shares 2,165 (+5.6%) Est. Cost $164.74 Unrealized +36.3%

SHOC EA SERIES TRUST 0.4%

Value ($000) $702 (+19.0%) Shares 10,236 (+8.3%) Est. Cost $55.22 Unrealized —

CCJ CAMECO CORP 0.2%

Value ($000) $425 (+35.0%) Shares 4,650 (+23.8%) Est. Cost $79.80 Unrealized +12.7%

T AT&T INC 0.9%

Value ($000) $1,513 (+7.3%) Shares 60,900 (+22.0%) Est. Cost $24.51 Unrealized +3.2%

SHY ISHARES TR 1.5%

Value ($000) $2,664 (+4.0%) Shares 32,160 (+4.1%) Est. Cost $82.65 Unrealized —

SPY SPDR S&P 500 ETF TR 0.4%

Value ($000) $734 (+15.4%) Shares 1,077 (+12.8%) Est. Cost $591.60 Unrealized —

CSGP COSTAR GROUP INC 0.2%

Value ($000) $403 (-18.9%) Shares 5,988 (+1.8%) Est. Cost $79.93 Unrealized -11.4%

NEE NEXTERA ENERGY INC 0.6%

Value ($000) $980 (+9.9%) Shares 12,203 (+3.4%) Est. Cost $72.72 Unrealized +13.4%

PAYC PAYCOM SOFTWARE INC 0.3%

Value ($000) $522 (-14.0%) Shares 3,277 (+12.3%) Est. Cost $205.60 Unrealized -13.9%

SCZ ISHARES TR 0.6%

Value ($000) $976 (+9.1%) Shares 12,584 (+7.9%) Est. Cost $64.38 Unrealized —

SPEM SPDR INDEX SHS FDS 1.1%

Value ($000) $1,915 (+4.1%) Shares 40,917 (+4.1%) Est. Cost $39.75 Unrealized —

ALL ALLSTATE CORP 0.2%

Value ($000) $334 (+28.3%) Shares 1,604 (+32.3%) Est. Cost $198.87 Unrealized +2.6%

SCHP SCHWAB STRATEGIC TR 1.0%

Value ($000) $1,757 (+3.7%) Shares 66,315 (+5.5%) Est. Cost $26.60 Unrealized —

HYG ISHARES TR 0.6%

Value ($000) $1,107 (+5.3%) Shares 13,734 (+6.0%) Est. Cost $79.60 Unrealized —

MUB ISHARES TR 0.9%

Value ($000) $1,526 (+3.6%) Shares 14,245 (+3.0%) Est. Cost $105.69 Unrealized —

NOW SERVICENOW INC 0.2%

Value ($000) $316 (-14.3%) Shares 2,063 (+414.5%) Est. Cost $177.50 Unrealized -3.4%

WDAY WORKDAY INC 0.3%

Value ($000) $480 (-9.7%) Shares 2,235 (+1.1%) Est. Cost $255.15 Unrealized -10.9%

TSLA TESLA INC 0.2%

Value ($000) $311 (+19.8%) Shares 692 (+18.5%) Est. Cost $361.89 Unrealized +22.5%

RTX RTX CORPORATION 0.2%

Value ($000) $317 (+18.9%) Shares 1,727 (+8.5%) Est. Cost $135.02 Unrealized +28.4%

AON AON PLC 0.4%

Value ($000) $660 (+7.9%) Shares 1,870 (+9.0%) Est. Cost $363.58 Unrealized -4.0%

LQD ISHARES TR 0.8%

Value ($000) $1,326 (+3.4%) Shares 12,030 (+4.7%) Est. Cost $108.84 Unrealized —

ABT ABBOTT LABS 0.5%

Value ($000) $869 (-4.8%) Shares 6,937 (+1.8%) Est. Cost $114.44 Unrealized +11.2%

MBB ISHARES TR 0.5%

Value ($000) $964 (+4.5%) Shares 10,126 (+4.5%) Est. Cost $93.47 Unrealized —

ZTS ZOETIS INC 0.2%

Value ($000) $377 (-9.7%) Shares 2,999 (+5.0%) Est. Cost $167.73 Unrealized -22.3%

SAP SAP SE 0.3%

Value ($000) $579 (-6.5%) Shares 2,383 (+2.9%) Est. Cost $246.12 Unrealized —

BNDX VANGUARD CHARLOTTE FDS 0.6%

Value ($000) $1,069 (+3.2%) Shares 22,131 (+5.6%) Est. Cost $49.07 Unrealized —

SPTL SPDR SERIES TRUST 1.0%

Value ($000) $1,753 (+1.9%) Shares 66,219 (+3.7%) Est. Cost $26.81 Unrealized —

ADP AUTOMATIC DATA PROCESSING IN 0.2%

Value ($000) $342 (-8.5%) Shares 1,330 (+4.3%) Est. Cost $287.91 Unrealized -8.0%

ACN ACCENTURE PLC IRELAND 0.2%

Value ($000) $303 (+10.4%) Shares 1,129 (+1.5%) Est. Cost $353.16 Unrealized -28.1%

MA MASTERCARD INCORPORATED 0.6%

Value ($000) $1,041 (+2.7%) Shares 1,823 (+2.3%) Est. Cost $517.61 Unrealized +8.0%

SBUX STARBUCKS CORP 0.2%

Value ($000) $382 (+7.2%) Shares 4,537 (+7.7%) Est. Cost $86.21 Unrealized -2.5%

ORLY OREILLY AUTOMOTIVE INC 0.1%

Value ($000) $233 (-8.1%) Shares 2,553 (+8.6%) Est. Cost $91.43 Unrealized +6.9%

MELI MERCADOLIBRE INC 0.1%

Value ($000) $221 (-8.4%) Shares 110 (+6.8%) Est. Cost $2381.37 Unrealized -11.8%

EPD ENTERPRISE PRODS PARTNERS L 0.1%

Value ($000) $217 (+6.3%) Shares 6,780 (+3.6%) Est. Cost $31.30 Unrealized —

LOW LOWES COS INC 0.2%

Value ($000) $371 (-2.5%) Shares 1,537 (+1.6%) Est. Cost $241.71 Unrealized -0.8%

PG PROCTER AND GAMBLE CO 0.3%

Value ($000) $478 (-1.4%) Shares 3,339 (+5.8%) Est. Cost $163.71 Unrealized -10.1%

WM WASTE MGMT INC DEL 0.1%

Value ($000) $229 (+2.1%) Shares 1,044 (+2.6%) Est. Cost $219.03 Unrealized -3.0%

PEG PUBLIC SVC ENTERPRISE GRP IN 0.1%

Value ($000) $231 (-1.8%) Shares 2,873 (+2.0%) Est. Cost $84.56 Unrealized -4.1%

SCHD SCHWAB STRATEGIC TR 0.1%

Value ($000) $236 (+1.5%) Shares 8,608 (+1.0%) Est. Cost $27.30 Unrealized —

TXN TEXAS INSTRS INC 0.1%

Value ($000) $223 (+1.0%) Shares 1,286 (+7.0%) Est. Cost $181.27 Unrealized -5.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PM	PHILIP MORRIS INTL INC	10,498 (+38.5%)	$1,684 (+36.9%)	1.0%	$149.41	+2.8%	COM	718172109
VOO	VANGUARD INDEX FDS	14,473 (+2.2%)	$9,076 (+4.7%)	5.2%	$533.45	—	S&P 500 ETF SHS	922908363
XOM	EXXON MOBIL CORP	7,198 (+70.1%)	$866 (+81.6%)	0.5%	$112.91	+2.3%	COM	30231G102
IBM	INTERNATIONAL BUSINESS MACHS	2,355 (+109.1%)	$697 (+119.6%)	0.4%	$271.52	+10.0%	COM	459200101
ORCL	ORACLE CORP	4,664 (+1.8%)	$909 (-29.4%)	0.5%	$177.36	+34.2%	COM	68389X105
VZ	VERIZON COMMUNICATIONS INC	24,738 (+71.3%)	$1,008 (+58.8%)	0.6%	$40.57	-0.2%	COM	92343V104
SOUN	SOUNDHOUND AI INC	95,580 (+154.1%)	$953 (+57.5%)	0.5%	$13.95	+3.2%	CLASS A COM	836100107
KO	COCA COLA CO	7,046 (+87.7%)	$493 (+97.8%)	0.3%	$66.71	+4.0%	COM	191216100
PGR	PROGRESSIVE CORP	3,226 (+62.1%)	$735 (+49.5%)	0.4%	$237.51	-10.6%	COM	743315103
AEP	AMERICAN ELEC PWR CO INC	4,825 (+72.5%)	$556 (+76.8%)	0.3%	$106.68	+10.3%	COM	025537101
CI	THE CIGNA GROUP	1,880 (+94.8%)	$518 (+86.1%)	0.3%	$297.50	-6.1%	COM	125523100
VEA	VANGUARD TAX-MANAGED FDS	55,490 (+2.8%)	$3,466 (+7.2%)	2.0%	$50.24	—	VAN FTSE DEV MKT	921943858
NFLX	NETFLIX INC	9,719 (+976.3%)	$911 (-15.8%)	0.5%	$107.26	+0.5%	COM	64110L106
MSFT	MICROSOFT CORP	9,589 (+3.4%)	$4,638 (-3.5%)	2.6%	$426.74	+17.3%	COM	594918104
IJR	ISHARES TR	22,752 (+4.1%)	$2,734 (+5.3%)	1.6%	$109.25	—	CORE S&P SCP ETF	464287804
AMD	ADVANCED MICRO DEVICES INC	2,165 (+5.6%)	$464 (+39.8%)	0.3%	$164.74	+36.3%	COM	007903107
SHOC	EA SERIES TRUST	10,236 (+8.3%)	$702 (+19.0%)	0.4%	$55.22	—	STRIVE US SEMICO	02072L672
CCJ	CAMECO CORP	4,650 (+23.8%)	$425 (+35.0%)	0.2%	$79.80	+12.7%	COM	13321L108
T	AT&T INC	60,900 (+22.0%)	$1,513 (+7.3%)	0.9%	$24.51	+3.2%	COM	00206R102
SHY	ISHARES TR	32,160 (+4.1%)	$2,664 (+4.0%)	1.5%	$82.65	—	1 3 YR TREAS BD	464287457
SPY	SPDR S&P 500 ETF TR	1,077 (+12.8%)	$734 (+15.4%)	0.4%	$591.60	—	TR UNIT	78462F103
CSGP	COSTAR GROUP INC	5,988 (+1.8%)	$403 (-18.9%)	0.2%	$79.93	-11.4%	COM	22160N109
NEE	NEXTERA ENERGY INC	12,203 (+3.4%)	$980 (+9.9%)	0.6%	$72.72	+13.4%	COM	65339F101
PAYC	PAYCOM SOFTWARE INC	3,277 (+12.3%)	$522 (-14.0%)	0.3%	$205.60	-13.9%	COM	70432V102
SCZ	ISHARES TR	12,584 (+7.9%)	$976 (+9.1%)	0.6%	$64.38	—	EAFE SML CP ETF	464288273
SPEM	SPDR INDEX SHS FDS	40,917 (+4.1%)	$1,915 (+4.1%)	1.1%	$39.75	—	PORTFOLIO EMG MK	78463X509
ALL	ALLSTATE CORP	1,604 (+32.3%)	$334 (+28.3%)	0.2%	$198.87	+2.6%	COM	020002101
SCHP	SCHWAB STRATEGIC TR	66,315 (+5.5%)	$1,757 (+3.7%)	1.0%	$26.60	—	US TIPS ETF	808524870
HYG	ISHARES TR	13,734 (+6.0%)	$1,107 (+5.3%)	0.6%	$79.60	—	IBOXX HI YD ETF	464288513
MUB	ISHARES TR	14,245 (+3.0%)	$1,526 (+3.6%)	0.9%	$105.69	—	NATIONAL MUN ETF	464288414
NOW	SERVICENOW INC	2,063 (+414.5%)	$316 (-14.3%)	0.2%	$177.50	-3.4%	COM	81762P102
WDAY	WORKDAY INC	2,235 (+1.1%)	$480 (-9.7%)	0.3%	$255.15	-10.9%	CL A	98138H101
TSLA	TESLA INC	692 (+18.5%)	$311 (+19.8%)	0.2%	$361.89	+22.5%	COM	88160R101
RTX	RTX CORPORATION	1,727 (+8.5%)	$317 (+18.9%)	0.2%	$135.02	+28.4%	COM	75513E101
AON	AON PLC	1,870 (+9.0%)	$660 (+7.9%)	0.4%	$363.58	-4.0%	SHS CL A	G0403H108
LQD	ISHARES TR	12,030 (+4.7%)	$1,326 (+3.4%)	0.8%	$108.84	—	IBOXX INV CP ETF	464287242
ABT	ABBOTT LABS	6,937 (+1.8%)	$869 (-4.8%)	0.5%	$114.44	+11.2%	COM	002824100
MBB	ISHARES TR	10,126 (+4.5%)	$964 (+4.5%)	0.5%	$93.47	—	MBS ETF	464288588
ZTS	ZOETIS INC	2,999 (+5.0%)	$377 (-9.7%)	0.2%	$167.73	-22.3%	CL A	98978V103
SAP	SAP SE	2,383 (+2.9%)	$579 (-6.5%)	0.3%	$246.12	—	SPON ADR	803054204
BNDX	VANGUARD CHARLOTTE FDS	22,131 (+5.6%)	$1,069 (+3.2%)	0.6%	$49.07	—	TOTAL INT BD ETF	92203J407
SPTL	SPDR SERIES TRUST	66,219 (+3.7%)	$1,753 (+1.9%)	1.0%	$26.81	—	STATE STREET SPD	78464A664
ADP	AUTOMATIC DATA PROCESSING IN	1,330 (+4.3%)	$342 (-8.5%)	0.2%	$287.91	-8.0%	COM	053015103
ACN	ACCENTURE PLC IRELAND	1,129 (+1.5%)	$303 (+10.4%)	0.2%	$353.16	-28.1%	SHS CLASS A	G1151C101
MA	MASTERCARD INCORPORATED	1,823 (+2.3%)	$1,041 (+2.7%)	0.6%	$517.61	+8.0%	CL A	57636Q104
SBUX	STARBUCKS CORP	4,537 (+7.7%)	$382 (+7.2%)	0.2%	$86.21	-2.5%	COM	855244109
ORLY	OREILLY AUTOMOTIVE INC	2,553 (+8.6%)	$233 (-8.1%)	0.1%	$91.43	+6.9%	COM	67103H107
MELI	MERCADOLIBRE INC	110 (+6.8%)	$221 (-8.4%)	0.1%	$2381.37	-11.8%	COM	58733R102
EPD	ENTERPRISE PRODS PARTNERS L	6,780 (+3.6%)	$217 (+6.3%)	0.1%	$31.30	—	COM	293792107
LOW	LOWES COS INC	1,537 (+1.6%)	$371 (-2.5%)	0.2%	$241.71	-0.8%	COM	548661107
PG	PROCTER AND GAMBLE CO	3,339 (+5.8%)	$478 (-1.4%)	0.3%	$163.71	-10.1%	COM	742718109
WM	WASTE MGMT INC DEL	1,044 (+2.6%)	$229 (+2.1%)	0.1%	$219.03	-3.0%	COM	94106L109
PEG	PUBLIC SVC ENTERPRISE GRP IN	2,873 (+2.0%)	$231 (-1.8%)	0.1%	$84.56	-4.1%	COM	744573106
SCHD	SCHWAB STRATEGIC TR	8,608 (+1.0%)	$236 (+1.5%)	0.1%	$27.30	—	US DIVIDEND EQ	808524797
TXN	TEXAS INSTRS INC	1,286 (+7.0%)	$223 (+1.0%)	0.1%	$181.27	-5.8%	COM	882508104

Exited Positions (11)

SO SOUTHERN CO 0.2%

Value ($000) $351 Shares 3,703 Est. Cost $85.31 Unrealized +6.5%

TRGP TARGA RES CORP 0.2%

Value ($000) $302 Shares 1,800 Est. Cost $165.52 Unrealized +1.5%

DASH DOORDASH INC 0.2%

Value ($000) $265 Shares 973 Est. Cost $200.58 Unrealized +16.9%

DDOG DATADOG INC 0.1%

Value ($000) $241 Shares 1,695 Est. Cost $127.09 Unrealized +24.3%

GDDY GODADDY INC 0.1%

Value ($000) $233 Shares 1,703 Est. Cost $184.74 Unrealized -30.0%

KKR KKR & CO INC 0.1%

Value ($000) $224 Shares 1,727 Est. Cost $117.05 Unrealized +6.2%

SHEL SHELL PLC 0.1%

Value ($000) $223 Shares 3,115 Est. Cost $73.22 Unrealized —

SPOT SPOTIFY TECHNOLOGY S A 0.1%

Value ($000) $216 Shares 310 Est. Cost $641.84 Unrealized -2.6%

FOUR SHIFT4 PMTS INC 0.1%

Value ($000) $205 Shares 2,649 Est. Cost $99.06 Unrealized -28.7%

AFRM AFFIRM HLDGS INC 0.1%

Value ($000) $203 Shares 2,774 Est. Cost $51.85 Unrealized +38.8%

SG SWEETGREEN INC 0.0%

Value ($000) $86 Shares 10,767 Est. Cost $10.87 Unrealized -36.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SO	SOUTHERN CO	3,703	$351	0.2%	$85.31	+6.5%	—	842587107
TRGP	TARGA RES CORP	1,800	$302	0.2%	$165.52	+1.5%	—	87612G101
DASH	DOORDASH INC	973	$265	0.2%	$200.58	+16.9%	—	25809K105
DDOG	DATADOG INC	1,695	$241	0.1%	$127.09	+24.3%	—	23804L103
GDDY	GODADDY INC	1,703	$233	0.1%	$184.74	-30.0%	—	380237107
KKR	KKR & CO INC	1,727	$224	0.1%	$117.05	+6.2%	—	48251W104
SHEL	SHELL PLC	3,115	$223	0.1%	$73.22	—	—	780259305
SPOT	SPOTIFY TECHNOLOGY S A	310	$216	0.1%	$641.84	-2.6%	—	L8681T102
FOUR	SHIFT4 PMTS INC	2,649	$205	0.1%	$99.06	-28.7%	—	82452J109
AFRM	AFFIRM HLDGS INC	2,774	$203	0.1%	$51.85	+38.8%	—	00827B106
SG	SWEETGREEN INC	10,767	$86	0.0%	$10.87	-36.8%	—	87043Q108

Decreased Positions (29)

META META PLATFORMS INC 0.5%

Value ($000) $833 (-44.3%) Shares 1,262 (-38.0%) Est. Cost $632.42 Unrealized +5.5%

LLY ELI LILLY & CO 0.3%

Value ($000) $472 (-56.6%) Shares 439 (-69.2%) Est. Cost $808.54 Unrealized +18.2%

APP APPLOVIN CORP 0.9%

Value ($000) $1,527 (-26.0%) Shares 2,266 (-21.1%) Est. Cost $277.45 Unrealized +127.1%

NVO NOVO-NORDISK A S 0.2%

Value ($000) $421 (-54.8%) Shares 8,284 (-50.8%) Est. Cost $74.13 Unrealized —

AVGO BROADCOM INC 0.2%

Value ($000) $318 (-54.4%) Shares 919 (-56.5%) Est. Cost $195.19 Unrealized +82.9%

NVDA NVIDIA CORPORATION 1.1%

Value ($000) $1,997 (-15.9%) Shares 10,710 (-15.9%) Est. Cost $143.24 Unrealized +29.9%

WMT WALMART INC 0.4%

Value ($000) $713 (-27.0%) Shares 6,401 (-32.5%) Est. Cost $89.20 Unrealized +20.2%

GOOG ALPHABET INC 1.6%

Value ($000) $2,759 (+8.4%) Shares 8,794 (-15.8%) Est. Cost $175.77 Unrealized +62.9%

GOOGL ALPHABET INC 0.5%

Value ($000) $889 (+27.0%) Shares 2,839 (-1.3%) Est. Cost $175.30 Unrealized +62.9%

AAPL APPLE INC 4.0%

Value ($000) $6,979 (-2.3%) Shares 25,670 (-8.5%) Est. Cost $231.99 Unrealized +15.7%

UNH UNITEDHEALTH GROUP INC 0.3%

Value ($000) $565 (-21.6%) Shares 1,712 (-18.0%) Est. Cost $399.97 Unrealized -15.7%

SNOW SNOWFLAKE INC 0.2%

Value ($000) $274 (-28.7%) Shares 1,250 (-26.7%) Est. Cost $185.20 Unrealized +31.8%

V VISA INC 0.8%

Value ($000) $1,390 (-7.3%) Shares 3,963 (-9.8%) Est. Cost $308.43 Unrealized +10.4%

AMZN AMAZON COM INC 1.9%

Value ($000) $3,279 (-3.1%) Shares 14,205 (-7.8%) Est. Cost $206.66 Unrealized +10.7%

ITOT ISHARES TR 1.3%

Value ($000) $2,255 (-3.9%) Shares 15,165 (-5.8%) Est. Cost $128.62 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.4%

Value ($000) $729 (+12.9%) Shares 1,259 (-5.5%) Est. Cost $535.32 Unrealized +5.6%

AMG AFFILIATED MANAGERS GROUP IN 0.2%

Value ($000) $284 (+19.2%) Shares 985 (-1.4%) Est. Cost $173.47 Unrealized +49.0%

ASND ASCENDIS PHARMA A/S 0.1%

Value ($000) $224 (-13.1%) Shares 1,050 (-19.0%) Est. Cost $137.69 Unrealized —

AGG ISHARES TR 0.2%

Value ($000) $424 (-7.2%) Shares 4,243 (-6.9%) Est. Cost $96.90 Unrealized —

SHOP SHOPIFY INC 0.6%

Value ($000) $985 (+3.1%) Shares 6,116 (-4.8%) Est. Cost $98.51 Unrealized +63.0%

UPS UNITED PARCEL SERVICE INC 0.1%

Value ($000) $239 (+12.9%) Shares 2,411 (-4.9%) Est. Cost $112.06 Unrealized -17.2%

CSCO CISCO SYS INC 0.1%

Value ($000) $260 (+11.2%) Shares 3,373 (-1.2%) Est. Cost $61.20 Unrealized +20.6%

CLVT CLARIVATE PLC 0.0%

Value ($000) $62 (-17.2%) Shares 18,635 (-5.0%) Est. Cost $4.68 Unrealized -24.1%

LPLA LPL FINL HLDGS INC 0.1%

Value ($000) $234 (+5.4%) Shares 654 (-1.9%) Est. Cost $295.72 Unrealized +19.6%

USFD US FOODS HLDG CORP 0.1%

Value ($000) $247 (-2.9%) Shares 3,273 (-1.2%) Est. Cost $68.34 Unrealized +9.9%

VTEB VANGUARD MUN BD FDS 0.2%

Value ($000) $410 (-1.5%) Shares 8,161 (-1.9%) Est. Cost $49.38 Unrealized —

WELL WELLTOWER INC 0.1%

Value ($000) $207 (+2.8%) Shares 1,113 (-1.3%) Est. Cost $163.41 Unrealized +14.1%

QQQ INVESCO QQQ TR 0.3%

Value ($000) $521 (-0.9%) Shares 849 (-3.1%) Est. Cost $515.31 Unrealized —

TJX TJX COS INC NEW 0.1%

Value ($000) $220 (+1.1%) Shares 1,434 (-4.8%) Est. Cost $132.28 Unrealized +11.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
META	META PLATFORMS INC	1,262 (-38.0%)	$833 (-44.3%)	0.5%	$632.42	+5.5%	CL A	30303M102
LLY	ELI LILLY & CO	439 (-69.2%)	$472 (-56.6%)	0.3%	$808.54	+18.2%	COM	532457108
APP	APPLOVIN CORP	2,266 (-21.1%)	$1,527 (-26.0%)	0.9%	$277.45	+127.1%	COM CL A	03831W108
NVO	NOVO-NORDISK A S	8,284 (-50.8%)	$421 (-54.8%)	0.2%	$74.13	—	ADR	670100205
AVGO	BROADCOM INC	919 (-56.5%)	$318 (-54.4%)	0.2%	$195.19	+82.9%	COM	11135F101
NVDA	NVIDIA CORPORATION	10,710 (-15.9%)	$1,997 (-15.9%)	1.1%	$143.24	+29.9%	COM	67066G104
WMT	WALMART INC	6,401 (-32.5%)	$713 (-27.0%)	0.4%	$89.20	+20.2%	COM	931142103
GOOG	ALPHABET INC	8,794 (-15.8%)	$2,759 (+8.4%)	1.6%	$175.77	+62.9%	CAP STK CL C	02079K107
GOOGL	ALPHABET INC	2,839 (-1.3%)	$889 (+27.0%)	0.5%	$175.30	+62.9%	CAP STK CL A	02079K305
AAPL	APPLE INC	25,670 (-8.5%)	$6,979 (-2.3%)	4.0%	$231.99	+15.7%	COM	037833100
UNH	UNITEDHEALTH GROUP INC	1,712 (-18.0%)	$565 (-21.6%)	0.3%	$399.97	-15.7%	COM	91324P102
SNOW	SNOWFLAKE INC	1,250 (-26.7%)	$274 (-28.7%)	0.2%	$185.20	+31.8%	COM SHS	833445109
V	VISA INC	3,963 (-9.8%)	$1,390 (-7.3%)	0.8%	$308.43	+10.4%	COM CL A	92826C839
AMZN	AMAZON COM INC	14,205 (-7.8%)	$3,279 (-3.1%)	1.9%	$206.66	+10.7%	COM	023135106
ITOT	ISHARES TR	15,165 (-5.8%)	$2,255 (-3.9%)	1.3%	$128.62	—	CORE S&P TTL STK	464287150
TMO	THERMO FISHER SCIENTIFIC INC	1,259 (-5.5%)	$729 (+12.9%)	0.4%	$535.32	+5.6%	COM	883556102
AMG	AFFILIATED MANAGERS GROUP IN	985 (-1.4%)	$284 (+19.2%)	0.2%	$173.47	+49.0%	COM	008252108
ASND	ASCENDIS PHARMA A/S	1,050 (-19.0%)	$224 (-13.1%)	0.1%	$137.69	—	SPONSORED ADR	04351P101
AGG	ISHARES TR	4,243 (-6.9%)	$424 (-7.2%)	0.2%	$96.90	—	CORE US AGGBD ET	464287226
SHOP	SHOPIFY INC	6,116 (-4.8%)	$985 (+3.1%)	0.6%	$98.51	+63.0%	CL A SUB VTG SHS	82509L107
UPS	UNITED PARCEL SERVICE INC	2,411 (-4.9%)	$239 (+12.9%)	0.1%	$112.06	-17.2%	CL B	911312106
CSCO	CISCO SYS INC	3,373 (-1.2%)	$260 (+11.2%)	0.1%	$61.20	+20.6%	COM	17275R102
CLVT	CLARIVATE PLC	18,635 (-5.0%)	$62 (-17.2%)	0.0%	$4.68	-24.1%	ORD SHS	G21810109
LPLA	LPL FINL HLDGS INC	654 (-1.9%)	$234 (+5.4%)	0.1%	$295.72	+19.6%	COM	50212V100
USFD	US FOODS HLDG CORP	3,273 (-1.2%)	$247 (-2.9%)	0.1%	$68.34	+9.9%	COM	912008109
VTEB	VANGUARD MUN BD FDS	8,161 (-1.9%)	$410 (-1.5%)	0.2%	$49.38	—	TAX EXEMPT BD	922907746
WELL	WELLTOWER INC	1,113 (-1.3%)	$207 (+2.8%)	0.1%	$163.41	+14.1%	COM	95040Q104
QQQ	INVESCO QQQ TR	849 (-3.1%)	$521 (-0.9%)	0.3%	$515.31	—	UNIT SER 1	46090E103
TJX	TJX COS INC NEW	1,434 (-4.8%)	$220 (+1.1%)	0.1%	$132.28	+11.7%	COM	872540109

Unchanged Positions (35)

AXP AMERICAN EXPRESS CO 13.1%

Value ($000) $22,944 Shares 62,020 Est. Cost $300.93 Unrealized +18.6%

HD HOME DEPOT INC 2.7%

Value ($000) $4,797 Shares 13,941 Est. Cost $391.48 Unrealized -6.9%

GS GOLDMAN SACHS GROUP INC 2.0%

Value ($000) $3,500 Shares 3,982 Est. Cost $734.84 Unrealized +10.7%

JNJ JOHNSON & JOHNSON 1.7%

Value ($000) $3,015 Shares 14,566 Est. Cost $160.89 Unrealized +22.5%

BAC BANK AMERICA CORP 1.7%

Value ($000) $3,042 Shares 55,307 Est. Cost $47.40 Unrealized +11.1%

PSX PHILLIPS 66 1.2%

Value ($000) $2,083 Shares 16,141 Est. Cost $126.39 Unrealized +6.0%

C CITIGROUP INC 0.4%

Value ($000) $697 Shares 5,970 Est. Cost $71.59 Unrealized +44.8%

WEC WEC ENERGY GROUP INC 0.6%

Value ($000) $1,006 Shares 9,539 Est. Cost $93.36 Unrealized +18.1%

MRK MERCK & CO INC 0.2%

Value ($000) $320 Shares 3,043 Est. Cost $95.22 Unrealized -2.1%

DY DYCOM INDS INC 0.2%

Value ($000) $338 Shares 1,000 Est. Cost $262.41 Unrealized +20.2%

BLK BLACKROCK INC 0.3%

Value ($000) $523 Shares 488 Est. Cost $1108.77 Unrealized -1.7%

HON HONEYWELL INTL INC 0.3%

Value ($000) $557 Shares 2,855 Est. Cost $198.43 Unrealized -1.7%

TD TORONTO DOMINION BK ONT 0.2%

Value ($000) $267 Shares 2,831 Est. Cost $58.22 Unrealized +45.0%

GD GENERAL DYNAMICS CORP 2.4%

Value ($000) $4,124 Shares 12,251 Est. Cost $298.99 Unrealized +14.0%

BKR BAKER HUGHES COMPANY 0.3%

Value ($000) $518 Shares 11,379 Est. Cost $43.83 Unrealized +8.0%

ABNB AIRBNB INC 0.2%

Value ($000) $304 Shares 2,243 Est. Cost $129.37 Unrealized -3.7%

NSC NORFOLK SOUTHN CORP 0.2%

Value ($000) $412 Shares 1,426 Est. Cost $247.18 Unrealized +16.8%

JPM JPMORGAN CHASE & CO. 0.5%

Value ($000) $827 Shares 2,566 Est. Cost $240.92 Unrealized +28.5%

GLW CORNING INC 0.1%

Value ($000) $262 Shares 2,992 Est. Cost $64.97 Unrealized +32.3%

CVX CHEVRON CORP NEW 0.6%

Value ($000) $981 Shares 6,439 Est. Cost $147.81 Unrealized +2.4%

AES AES CORP 0.1%

Value ($000) $184 Shares 12,823 Est. Cost $12.77 Unrealized +9.9%

ABBV ABBVIE INC 0.5%

Value ($000) $858 Shares 3,757 Est. Cost $188.90 Unrealized +20.5%

WTW WILLIS TOWERS WATSON PLC LTD 0.2%

Value ($000) $275 Shares 837 Est. Cost $322.11 Unrealized +1.4%

MSCI MSCI INC 0.4%

Value ($000) $617 Shares 1,075 Est. Cost $590.63 Unrealized -5.2%

BRK/A BERKSHIRE HATHAWAY INC DEL 8.6%

Value ($000) $15,096 Shares 20 Est. Cost $692527.00 Unrealized +7.8%

PEP PEPSICO INC 0.2%

Value ($000) $384 Shares 2,673 Est. Cost $141.86 Unrealized +2.8%

BMEA BIOMEA FUSION INC 0.0%

Value ($000) $17 Shares 14,000 Est. Cost $1.93 Unrealized -27.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 3.4%

Value ($000) $6,040 Shares 12,017 Est. Cost $465.31 Unrealized +6.9%

AMP AMERIPRISE FINL INC 2.8%

Value ($000) $4,976 Shares 10,148 Est. Cost $526.39 Unrealized -10.0%

UNP UNION PAC CORP 0.2%

Value ($000) $383 Shares 1,654 Est. Cost $229.81 Unrealized -1.1%

SPG SIMON PPTY GROUP INC NEW 0.2%

Value ($000) $378 Shares 2,042 Est. Cost $169.06 Unrealized +6.5%

DIS DISNEY WALT CO 0.2%

Value ($000) $364 Shares 3,201 Est. Cost $108.35 Unrealized +1.1%

MCD MCDONALDS CORP 0.3%

Value ($000) $460 Shares 1,507 Est. Cost $291.97 Unrealized +4.5%

ADBE ADOBE INC 0.4%

Value ($000) $678 Shares 1,936 Est. Cost $464.33 Unrealized -26.8%

DFCA DIMENSIONAL ETF TRUST 0.1%

Value ($000) $204 Shares 4,065 Est. Cost $49.28 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AXP	AMERICAN EXPRESS CO	62,020	$22,944	13.1%	$300.93	+18.6%	COM	025816109
HD	HOME DEPOT INC	13,941	$4,797	2.7%	$391.48	-6.9%	COM	437076102
GS	GOLDMAN SACHS GROUP INC	3,982	$3,500	2.0%	$734.84	+10.7%	COM	38141G104
JNJ	JOHNSON & JOHNSON	14,566	$3,015	1.7%	$160.89	+22.5%	COM	478160104
BAC	BANK AMERICA CORP	55,307	$3,042	1.7%	$47.40	+11.1%	COM	060505104
PSX	PHILLIPS 66	16,141	$2,083	1.2%	$126.39	+6.0%	COM	718546104
C	CITIGROUP INC	5,970	$697	0.4%	$71.59	+44.8%	COM NEW	172967424
WEC	WEC ENERGY GROUP INC	9,539	$1,006	0.6%	$93.36	+18.1%	COM	92939U106
MRK	MERCK & CO INC	3,043	$320	0.2%	$95.22	-2.1%	COM	58933Y105
DY	DYCOM INDS INC	1,000	$338	0.2%	$262.41	+20.2%	COM	267475101
BLK	BLACKROCK INC	488	$523	0.3%	$1108.77	-1.7%	COM	09290D101
HON	HONEYWELL INTL INC	2,855	$557	0.3%	$198.43	-1.7%	COM	438516106
TD	TORONTO DOMINION BK ONT	2,831	$267	0.2%	$58.22	+45.0%	COM NEW	891160509
GD	GENERAL DYNAMICS CORP	12,251	$4,124	2.4%	$298.99	+14.0%	COM	369550108
BKR	BAKER HUGHES COMPANY	11,379	$518	0.3%	$43.83	+8.0%	CL A	05722G100
ABNB	AIRBNB INC	2,243	$304	0.2%	$129.37	-3.7%	COM CL A	009066101
NSC	NORFOLK SOUTHN CORP	1,426	$412	0.2%	$247.18	+16.8%	COM	655844108
JPM	JPMORGAN CHASE & CO.	2,566	$827	0.5%	$240.92	+28.5%	COM	46625H100
GLW	CORNING INC	2,992	$262	0.1%	$64.97	+32.3%	COM	219350105
CVX	CHEVRON CORP NEW	6,439	$981	0.6%	$147.81	+2.4%	COM	166764100
AES	AES CORP	12,823	$184	0.1%	$12.77	+9.9%	COM	00130H105
ABBV	ABBVIE INC	3,757	$858	0.5%	$188.90	+20.5%	COM	00287Y109
WTW	WILLIS TOWERS WATSON PLC LTD	837	$275	0.2%	$322.11	+1.4%	SHS	G96629103
MSCI	MSCI INC	1,075	$617	0.4%	$590.63	-5.2%	COM	55354G100
BRK/A	BERKSHIRE HATHAWAY INC DEL	20	$15,096	8.6%	$692527.00	+7.8%	CL A	084670108
PEP	PEPSICO INC	2,673	$384	0.2%	$141.86	+2.8%	COM	713448108
BMEA	BIOMEA FUSION INC	14,000	$17	0.0%	$1.93	-27.3%	COM	09077A106
BRK/B	BERKSHIRE HATHAWAY INC DEL	12,017	$6,040	3.4%	$465.31	+6.9%	CL B NEW	084670702
AMP	AMERIPRISE FINL INC	10,148	$4,976	2.8%	$526.39	-10.0%	COM	03076C106
UNP	UNION PAC CORP	1,654	$383	0.2%	$229.81	-1.1%	COM	907818108
SPG	SIMON PPTY GROUP INC NEW	2,042	$378	0.2%	$169.06	+6.5%	COM	828806109
DIS	DISNEY WALT CO	3,201	$364	0.2%	$108.35	+1.1%	COM	254687106
MCD	MCDONALDS CORP	1,507	$460	0.3%	$291.97	+4.5%	COM	580135101
ADBE	ADOBE INC	1,936	$678	0.4%	$464.33	-26.8%	COM	00724F101
DFCA	DIMENSIONAL ETF TRUST	4,065	$204	0.1%	$49.28	—	CALIF MUN BD ETF	25434V633