SELECT SECTOR SPDR TR

CUSIP: 81369y209 Class: UI

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

Increased Positions (8)

ELCO Management Co., LLC
Value ($000) $373 (+50.2%) Shares 2,411 (+35.0%)
L & S Advisors Inc
Value ($000) $692 (+107.6%) Shares 4,467 (+86.7%)
VESTOR CAPITAL, LLC
Value ($000) $0 (-9.1%) Shares 8,623 (+1465.0%)
Sequent Asset Management, LLC
Value ($000) $725 (+12.8%) Shares 4,687 (+1.5%)
VAUGHAN DAVID INVESTMENTS LLC/IL
Value ($000) $5 (+28.5%) Shares 34,976 (+15.6%)
CARRET ASSET MANAGEMENT, LLC
Value ($000) $720 (+17.6%) Shares 4,649 (+5.7%)
EVERETT HARRIS & CO /CA/
Value ($000) $852 (+25.5%) Shares 5,502 (+12.9%)
COZAD ASSET MANAGEMENT INC
Value ($000) $304 (+15.1%) Shares 1,963 (+3.4%)

Decreased Positions (2)

MAGNOLIA CAPITAL MANAGEMENT LTD
Value ($000) $1 (-11.0%) Shares 9,270 (-20.0%)
SVB WEALTH LLC
Value ($000) $374 (-34.7%) Shares 2,415 (-41.3%)

Exited Positions (1)

Pinnacle Holdings, LLC
Value ($000) $53 Shares 379