# EDGAR Filing Document

**Accession Number:** 0001926596
**File Stem:** 0001951757-25-001374
**Filing Date:** 2025-11
**Character Count:** 40246
**Document Hash:** a3a7148a45be5472144d2901fa4086aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001951757-25-001374.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001951757-25-001374

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251110

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Empirical Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001926596

**ORGANIZATION NAME:**
- **EIN:** 273376835
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22459
- **FILM NUMBER:** 251467584

**BUSINESS ADDRESS:**
- **STREET 1:** 57 RIVER STREET
- **STREET 2:** SUITE 301
- **CITY:** WELLESLEY
- **STATE:** MA
- **ZIP:** 02481
- **BUSINESS PHONE:** (781) 431-2220

**MAIL ADDRESS:**
- **STREET 1:** 57 RIVER STREET
- **STREET 2:** SUITE 301
- **CITY:** WELLESLEY
- **STATE:** MA
- **ZIP:** 02481

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Empirical Asset Management LLC<br>**Address:** 57 RIVER STREET<br>SUITE 301<br>WELLESLEY, MA 02481

**Form 13F File Number:** 028-22459

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Mark Fiskio<br>**Title:** Chief Compliance Officer<br>**Phone:** (781) 431-2220

**Signature, Place, and Date of Signing:**

Mark Fiskio  Wellesley, MA  11-10-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 368

**Form 13F Information Table Value Total:** $360084048

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 |  | 1301708 | 9200 | SH |  | SOLE |  | 9200 | 0 | 0 |
| ISHARES TR | U.S. UTILITS ETF | 464287697 |  | 497054 | 4482 | SH |  | SOLE |  | 4482 | 0 | 0 |
| ISHARES TR | U.S. FINLS ETF | 464287788 |  | 837850 | 6616 | SH |  | SOLE |  | 6616 | 0 | 0 |
| ISHARES TR | U.S. ENERGY ETF | 464287796 |  | 473774 | 9970 | SH |  | SOLE |  | 9970 | 0 | 0 |
| NEW ENGLAND RLTY ASSOC LTD P | DEPOSITRY RCPT | 644206104 |  | 220918 | 3079 | SH |  | SOLE |  | 3079 | 0 | 0 |
| STMICROELECTRONICS N V | NY REGISTRY | 861012102 |  | 338272 | 11970 | SH |  | SOLE |  | 11970 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 |  | 3265039 | 73240 | SH |  | SOLE |  | 73240 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL FIN | 46137V340 |  | 567935 | 7302 | SH |  | SOLE |  | 7302 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL STP | 46137V373 |  | 221087 | 7565 | SH |  | SOLE |  | 7565 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL DIS | 46137V381 |  | 295193 | 5116 | SH |  | SOLE |  | 5116 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S 500 REVENUE | 46138G698 |  | 1305235 | 11795 | SH |  | SOLE |  | 11795 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ACTIVE GROWTH | 46654Q609 |  | 243188 | 2594 | SH |  | SOLE |  | 2594 | 0 | 0 |
| SPDR SERIES TRUST | S BIOTECH | 78464A870 |  | 566867 | 5657 | SH |  | SOLE |  | 5657 | 0 | 0 |
| SUNOCO LP/SUNOCO FIN CORP | COM UT REP LP | 86765K109 |  | 1420534 | 28405 | SH |  | SOLE |  | 28405 | 0 | 0 |
| VIKING HOLDINGS LTD | ORD SHS | G93A5A101 |  | 561305 | 9030 | SH |  | SOLE |  | 9030 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 560833 | 2008 | SH |  | SOLE |  | 2008 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 262352 | 271 | SH |  | SOLE |  | 271 | 0 | 0 |
| EATON VANCE ENHANCED EQUITY | COM | 278277108 |  | 306674 | 12815 | SH |  | SOLE |  | 12815 | 0 | 0 |
| BARINGS BDC INC | COM | 06759L103 |  | 94445 | 10781 | SH |  | SOLE |  | 10781 | 0 | 0 |
| BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 |  | 174558 | 14856 | SH |  | SOLE |  | 14856 | 0 | 0 |
| BLACKROCK SCIENCE  TECHNOLO | SHS | 09258G104 |  | 206800 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| OAKTREE SPECIALTY LENDING CO | COM | 67401P405 |  | 15968 | 15968 | SH |  | SOLE |  | 15968 | 0 | 0 |
| VOYA GLBL EQTY DIV  PREM OP | COM | 92912T100 |  | 120865 | 20382 | SH |  | SOLE |  | 20382 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES FLEXIBLE | 092528603 |  | 526054 | 9881 | SH |  | SOLE |  | 9881 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES HIGH YIE | 092528843 |  | 448859 | 9125 | SH |  | SOLE |  | 9125 | 0 | 0 |
| DBX ETF TR | XTRACK MSCI EMRG | 233051101 |  | 1109268 | 35951 | SH |  | SOLE |  | 35951 | 0 | 0 |
| DBX ETF TR | XTRACK MSCI EAFE | 233051200 |  | 1018761 | 21947 | SH |  | SOLE |  | 21947 | 0 | 0 |
| DBX ETF TR | XTRACK MSCI ALL | 233051820 |  | 897782 | 22783 | SH |  | SOLE |  | 22783 | 0 | 0 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA INT | 381430107 |  | 249620 | 6072 | SH |  | SOLE |  | 6072 | 0 | 0 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA EME | 381430206 |  | 621946 | 15270 | SH |  | SOLE |  | 15270 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 427014 | 5868 | SH |  | SOLE |  | 5868 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2950950 | 4409 | SH |  | SOLE |  | 4409 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 2382378 | 28949 | SH |  | SOLE |  | 28949 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 420889 | 7882 | SH |  | SOLE |  | 7882 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 287870 | 2582 | SH |  | SOLE |  | 2582 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 1209471 | 10019 | SH |  | SOLE |  | 10019 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 1779931 | 8619 | SH |  | SOLE |  | 8619 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 1582167 | 17704 | SH |  | SOLE |  | 17704 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 3129570 | 37724 | SH |  | SOLE |  | 37724 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 895369 | 9589 | SH |  | SOLE |  | 9589 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 1412969 | 14635 | SH |  | SOLE |  | 14635 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 1208790 | 18523 | SH |  | SOLE |  | 18523 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 2594308 | 5539 | SH |  | SOLE |  | 5539 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 443134 | 1385 | SH |  | SOLE |  | 1385 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 2158808 | 8922 | SH |  | SOLE |  | 8922 | 0 | 0 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 831084 | 8315 | SH |  | SOLE |  | 8315 | 0 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 969857 | 5894 | SH |  | SOLE |  | 5894 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 764706 | 6435 | SH |  | SOLE |  | 6435 | 0 | 0 |
| ISHARES TR | U.S. BAS MTL ETF | 464287838 |  | 532815 | 3595 | SH |  | SOLE |  | 3595 | 0 | 0 |
| ISHARES TR | INTL TREA BD ETF | 464288117 |  | 2725590 | 63981 | SH |  | SOLE |  | 63981 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 229530 | 2411 | SH |  | SOLE |  | 2411 | 0 | 0 |
| ISHARES TR | MBS ETF | 464288588 |  | 561185 | 5898 | SH |  | SOLE |  | 5898 | 0 | 0 |
| ISHARES TR | 10-20 YR TRS ETF | 464288653 |  | 276299 | 2744 | SH |  | SOLE |  | 2744 | 0 | 0 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 534435 | 7879 | SH |  | SOLE |  | 7879 | 0 | 0 |
| ISHARES TR | CORE 40/60 MODER | 464289875 |  | 265664 | 5584 | SH |  | SOLE |  | 5584 | 0 | 0 |
| LATTICE STRATEGIES TR | HARTFORD MLT ETF | 518416102 |  | 896066 | 25224 | SH |  | SOLE |  | 25224 | 0 | 0 |
| LATTICE STRATEGIES TR | HARTFRD EMRG ETF | 518416201 |  | 610103 | 21894 | SH |  | SOLE |  | 21894 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 258139 | 10040 | SH |  | SOLE |  | 10040 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 458212 | 17396 | SH |  | SOLE |  | 17396 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 200460 | 6282 | SH |  | SOLE |  | 6282 | 0 | 0 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 355715 | 10660 | SH |  | SOLE |  | 10660 | 0 | 0 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 210806 | 4907 | SH |  | SOLE |  | 4907 | 0 | 0 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US L | 808524771 |  | 377803 | 14365 | SH |  | SOLE |  | 14365 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 198403 | 29948 | SH |  | SOLE |  | 29948 | 0 | 0 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 |  | 1387181 | 59104 | SH |  | SOLE |  | 59104 | 0 | 0 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 2619266 | 104229 | SH |  | SOLE |  | 104229 | 0 | 0 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 338138 | 13858 | SH |  | SOLE |  | 13858 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 271032 | 1256 | SH |  | SOLE |  | 1256 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 699016 | 14907 | SH |  | SOLE |  | 14907 | 0 | 0 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 205294 | 2292 | SH |  | SOLE |  | 2292 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 391288 | 7222 | SH |  | SOLE |  | 7222 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 469792 | 9258 | SH |  | SOLE |  | 9258 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 577083 | 2765 | SH |  | SOLE |  | 2765 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 771302 | 10135 | SH |  | SOLE |  | 10135 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 1694933 | 11746 | SH |  | SOLE |  | 11746 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 1013621 | 11259 | SH |  | SOLE |  | 11259 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 204035 | 2930 | SH |  | SOLE |  | 2930 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1693976 | 39928 | SH |  | SOLE |  | 39928 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | EQUAL WEGT 0-30 | 46138E107 |  | 463636 | 16702 | SH |  | SOLE |  | 16702 | 0 | 0 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 269104 | 3520 | SH |  | SOLE |  | 3520 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 15662 | 15662 | SH |  | SOLE |  | 15662 | 0 | 0 |
| ETFS GOLD TR | PHYSCL GOLD SHS | 00326A104 |  | 6235356 | 169393 | SH |  | SOLE |  | 169393 | 0 | 0 |
| EA SERIES TRUST | CAMBRIA GLOBAL | 02072Q713 |  | 983844 | 19537 | SH |  | SOLE |  | 19537 | 0 | 0 |
| BLACKROCK ETF TRUST | ISHARES US EQUIT | 09290C103 |  | 764023 | 12906 | SH |  | SOLE |  | 12906 | 0 | 0 |
| BLACKROCK ETF TRUST | ISHARES A I INNO | 09290C780 |  | 256029 | 7495 | SH |  | SOLE |  | 7495 | 0 | 0 |
| BLACKROCK ETF TRUST | ISHARES US THEMA | 09290C806 |  | 221784 | 5858 | SH |  | SOLE |  | 5858 | 0 | 0 |
| BONDBLOXX ETF TRUST | BLOOMBERG TEN YR | 09789C812 |  | 666176 | 14286 | SH |  | SOLE |  | 14286 | 0 | 0 |
| COLUMBIA ETF TR I | RESH ENHNC COR | 19761L706 |  | 1320381 | 32723 | SH |  | SOLE |  | 32723 | 0 | 0 |
| ETF SER SOLUTIONS | US DIVERSIFIED | 26922A511 |  | 987936 | 31876 | SH |  | SOLE |  | 31876 | 0 | 0 |
| ETF SER SOLUTIONS | LHA RISK MANAGE | 26922B543 |  | 2923501 | 116987 | SH |  | SOLE |  | 116987 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED ALP | COM SHS | 33735B108 |  | 951619 | 7588 | SH |  | SOLE |  | 7588 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED ALP | COM SHS | 33735J101 |  | 214053 | 2569 | SH |  | SOLE |  | 2569 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED ALP | COM SHS | 33735K108 |  | 1405884 | 8751 | SH |  | SOLE |  | 8751 | 0 | 0 |
| FIRST TR EXCH TRD ALPHDX FD | DEV MRK EX US | 33737J174 |  | 898609 | 11923 | SH |  | SOLE |  | 11923 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED ALP | MID CP GR ALPH | 33737M102 |  | 1057328 | 11541 | SH |  | SOLE |  | 11541 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED ALP | SML CP GRW ALP | 33737M300 |  | 920310 | 10145 | SH |  | SOLE |  | 10145 | 0 | 0 |
| FLEXSHARES TR | IBOXX 3R TARGT | 33939L506 |  | 286074 | 11758 | SH |  | SOLE |  | 11758 | 0 | 0 |
| FLEXSHARES TR | IBOXX 5YR TRGT | 33939L605 |  | 541093 | 22295 | SH |  | SOLE |  | 22295 | 0 | 0 |
| FLEXSHARES TR | US QUALITY CAP | 33939L746 |  | 1339950 | 17187 | SH |  | SOLE |  | 17187 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | SYSTMTC STYL PRE | 35473P546 |  | 451984 | 17043 | SH |  | SOLE |  | 17043 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | US SML CP MLTFCT | 35473P876 |  | 693634 | 15781 | SH |  | SOLE |  | 15781 | 0 | 0 |
| FRANKLIN TEMPLETON ETF TR | US MID CP MLTFCT | 35473P884 |  | 827336 | 14656 | SH |  | SOLE |  | 14656 | 0 | 0 |
| GLOBAL X FDS | DEFENSE TECH ETF | 37960A529 |  | 334904 | 4768 | SH |  | SOLE |  | 4768 | 0 | 0 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA WRLD | 38149W739 |  | 628197 | 11027 | SH |  | SOLE |  | 11027 | 0 | 0 |
| NEW YORK LIFE INVESTMENTS ET | NYLI HEDGE MULTI | 45409B107 |  | 1423323 | 42323 | SH |  | SOLE |  | 42323 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | TOTAL RETURN | 46090A804 |  | 445037 | 9367 | SH |  | SOLE |  | 9367 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | VAR RATE INVT | 46090A879 |  | 239062 | 9524 | SH |  | SOLE |  | 9524 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S 500 TOP 50 | 46137V233 |  | 768095 | 13354 | SH |  | SOLE |  | 13354 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL HLT | 46137V332 |  | 858482 | 29210 | SH |  | SOLE |  | 29210 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 432911 | 11544 | SH |  | SOLE |  | 11544 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | FINL PFD ETF | 46137V621 |  | 11952 | 11952 | SH |  | SOLE |  | 11952 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | LARGE CAP GROWTH | 46137V746 |  | 1221215 | 9737 | SH |  | SOLE |  | 9737 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | ZACKS MID CAP | 46137Y401 |  | 1078901 | 9821 | SH |  | SOLE |  | 9821 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S MIDCAP 400 | 46138G573 |  | 837114 | 27615 | SH |  | SOLE |  | 27615 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 354727 | 1435 | SH |  | SOLE |  | 1435 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | INTL DEV DYNAMIC | 46138J437 |  | 256233 | 9257 | SH |  | SOLE |  | 9257 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | RUSL 2000 DYNM | 46138J593 |  | 917230 | 20853 | SH |  | SOLE |  | 20853 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | RUSL 1000 DYNM | 46138J619 |  | 516264 | 8567 | SH |  | SOLE |  | 8567 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 3663395 | 86462 | SH |  | SOLE |  | 86462 | 0 | 0 |
| ISHARES S GSCI COMMODITY- | UNIT BEN INT | 46428R107 |  | 1052003 | 45799 | SH |  | SOLE |  | 45799 | 0 | 0 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 679116 | 29374 | SH |  | SOLE |  | 29374 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 462865 | 8891 | SH |  | SOLE |  | 8891 | 0 | 0 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 |  | 785322 | 9258 | SH |  | SOLE |  | 9258 | 0 | 0 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 953880 | 9229 | SH |  | SOLE |  | 9229 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 1069902 | 5501 | SH |  | SOLE |  | 5501 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 1896414 | 21720 | SH |  | SOLE |  | 21720 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 842439 | 12780 | SH |  | SOLE |  | 12780 | 0 | 0 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 437972 | 5460 | SH |  | SOLE |  | 5460 | 0 | 0 |
| ISHARES INC | EMNG MKTS EQT | 46434G889 |  | 984113 | 17393 | SH |  | SOLE |  | 17393 | 0 | 0 |
| ISHARES TR | US SML CAP EQT | 46434V290 |  | 1672796 | 22499 | SH |  | SOLE |  | 22499 | 0 | 0 |
| ISHARES TR | CORE TOTAL USD | 46434V613 |  | 588114 | 12591 | SH |  | SOLE |  | 12591 | 0 | 0 |
| ISHARES TR | IBONDS DEC25 ETF | 46434VBD1 |  | 526784 | 20912 | SH |  | SOLE |  | 20912 | 0 | 0 |
| ISHARES TR | CORE INTL AGGR | 46435G672 |  | 348724 | 6807 | SH |  | SOLE |  | 6807 | 0 | 0 |
| ISHARES TR | IBONDS DEC2026 | 46435GAA0 |  | 542109 | 22309 | SH |  | SOLE |  | 22309 | 0 | 0 |
| ISHARES TR | IBONDS 27 ETF | 46435UAA9 |  | 392117 | 16110 | SH |  | SOLE |  | 16110 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 213259 | 62318 | SH |  | SOLE |  | 62318 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 283682 | 5592 | SH |  | SOLE |  | 5592 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | DIVERSFED RTRN | 46641Q886 |  | 1070413 | 9871 | SH |  | SOLE |  | 9871 | 0 | 0 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 238735 | 4701 | SH |  | SOLE |  | 4701 | 0 | 0 |
| LEGG MASON ETF INVT | FRANKLIN INTL LW | 52468L505 |  | 608417 | 17508 | SH |  | SOLE |  | 17508 | 0 | 0 |
| PACER FDS TR | US LRG CP CASH | 69374H360 |  | 1214440 | 33456 | SH |  | SOLE |  | 33456 | 0 | 0 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 422937 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| PIMCO EQUITY SER | RAFI DYN EMERG | 72202L389 |  | 346047 | 15367 | SH |  | SOLE |  | 15367 | 0 | 0 |
| PROSHARES TR | INVT INT RT HG | 74347B607 |  | 715618 | 9058 | SH |  | SOLE |  | 9058 | 0 | 0 |
| PROSHARES TR | HGH YLD INT RATE | 74348A541 |  | 777495 | 11936 | SH |  | SOLE |  | 11936 | 0 | 0 |
| RBB FD INC | US TREASY 2 YR | 74933W486 |  | 1391715 | 28657 | SH |  | SOLE |  | 28657 | 0 | 0 |
| RBB FD INC | US TREASR 10 YR | 74933W536 |  | 1347404 | 133096 | SH |  | SOLE |  | 133096 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 11197044 | 16808 | SH |  | SOLE |  | 16808 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 3682128 | 36404 | SH |  | SOLE |  | 36404 | 0 | 0 |
| SPDR INDEX SHS FDS | MSCI WRLD STRGIC | 78463X418 |  | 607263 | 4324 | SH |  | SOLE |  | 4324 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 271014 | 6334 | SH |  | SOLE |  | 6334 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464A375 |  | 248760 | 7340 | SH |  | SOLE |  | 7340 | 0 | 0 |
| SPDR SERIES TRUST | FTSE INT GVT ETF | 78464A490 |  | 505061 | 12881 | SH |  | SOLE |  | 12881 | 0 | 0 |
| SPDR SERIES TRUST | PRTFLO S VL | 78464A508 |  | 688568 | 12445 | SH |  | SOLE |  | 12445 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO AGRGTE | 78464A649 |  | 315982 | 12224 | SH |  | SOLE |  | 12224 | 0 | 0 |
| SPDR SERIES TRUST | PORTFLI INTRMDIT | 78464A672 |  | 283471 | 9809 | SH |  | SOLE |  | 9809 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 917114 | 12051 | SH |  | SOLE |  | 12051 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 417473 | 900 | SH |  | SOLE |  | 900 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 321751 | 540 | SH |  | SOLE |  | 540 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG HIGH Y | 78468R622 |  | 242702 | 2477 | SH |  | SOLE |  | 2477 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 314739 | 3430 | SH |  | SOLE |  | 3430 | 0 | 0 |
| SSGA ACTIVE TR | SPDR SSGA FXD | 78470P507 |  | 341965 | 13125 | SH |  | SOLE |  | 13125 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 565626 | 6311 | SH |  | SOLE |  | 6311 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 571044 | 7287 | SH |  | SOLE |  | 7287 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 713932 | 2979 | SH |  | SOLE |  | 2979 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 797702 | 20038 | SH |  | SOLE |  | 20038 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 903756 | 3206 | SH |  | SOLE |  | 3206 | 0 | 0 |
| SELECT SECTOR SPDR TR | RL EST SEL SEC | 81369Y860 |  | 1717058 | 40756 | SH |  | SOLE |  | 40756 | 0 | 0 |
| SIMPLIFY EXCHANGE TRADED FUN | MANAGED FUTURES | 82889N699 |  | 1614530 | 57724 | SH |  | SOLE |  | 57724 | 0 | 0 |
| STARBOARD INVT TR | ADAPTIVE ALPHA | 85521B742 |  | 1329659 | 43317 | SH |  | SOLE |  | 43317 | 0 | 0 |
| STARBOARD INVT TR | RH TACTICAL OUTL | 85521B759 |  | 740307 | 41047 | SH |  | SOLE |  | 41047 | 0 | 0 |
| STARBOARD INVT TR | ADAPTIVE HDGD MU | 85521B783 |  | 151642 | 18504 | SH |  | SOLE |  | 18504 | 0 | 0 |
| TRUST FOR PROFESSIONAL MANAG | CONVERGENCE LNG | 89834G760 |  | 782841 | 30063 | SH |  | SOLE |  | 30063 | 0 | 0 |
| USCF ETF TR | SUMMERHAVEN K1 | 90290T809 |  | 3698630 | 160810 | SH |  | SOLE |  | 160810 | 0 | 0 |
| VANGUARD WORLD FD | CONSUM DIS ETF | 92204A108 |  | 32311 | 19666 | SH |  | SOLE |  | 19666 | 0 | 0 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 |  | 145862 | 26432 | SH |  | SOLE |  | 26432 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 25753 | 20840 | SH |  | SOLE |  | 20840 | 0 | 0 |
| VANGUARD WORLD FD | INDUSTRIAL ETF | 92204A603 |  | 83524 | 10292 | SH |  | SOLE |  | 10292 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 892734 | 24681 | SH |  | SOLE |  | 24681 | 0 | 0 |
| VANGUARD WORLD FD | COMM SRVC ETF | 92204A884 |  | 18282 | 18282 | SH |  | SOLE |  | 18282 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 874708 | 10943 | SH |  | SOLE |  | 10943 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LONG TERM TREAS | 92206C847 |  | 528686 | 9298 | SH |  | SOLE |  | 9298 | 0 | 0 |
| VICTORY PORTFOLIOS II | VICTORYSHS EMERG | 92647N543 |  | 361376 | 6512 | SH |  | SOLE |  | 6512 | 0 | 0 |
| VICTORY PORTFOLIOS II | VCTRYSHS INTL MO | 92647N550 |  | 892625 | 14614 | SH |  | SOLE |  | 14614 | 0 | 0 |
| VIRTUS ETF TR II | VIRTUS US QLTY | 92790A504 |  | 1293695 | 30079 | SH |  | SOLE |  | 30079 | 0 | 0 |
| WISDOMTREE TR | FUTRE STRAT FD | 97717W125 |  | 1149204 | 30334 | SH |  | SOLE |  | 30334 | 0 | 0 |
| WISDOMTREE TR | US LARGECAP DIVD | 97717W307 |  | 487905 | 5606 | SH |  | SOLE |  | 5606 | 0 | 0 |
| WISDOMTREE TR | HEDGED HI YLD BD | 97717W430 |  | 855805 | 38070 | SH |  | SOLE |  | 38070 | 0 | 0 |
| WISDOMTREE TR | WISDOMTREE US VA | 97717W547 |  | 239311 | 2630 | SH |  | SOLE |  | 2630 | 0 | 0 |
| WISDOMTREE TR | US SMALLCAP DIVD | 97717W604 |  | 543764 | 16145 | SH |  | SOLE |  | 16145 | 0 | 0 |
| WISDOMTREE TR | YIELD ENHANCD US | 97717X511 |  | 861451 | 19459 | SH |  | SOLE |  | 19459 | 0 | 0 |
| WISDOMTREE TR | US S CAP QTY DIV | 97717X651 |  | 666371 | 13333 | SH |  | SOLE |  | 13333 | 0 | 0 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 734767 | 8260 | SH |  | SOLE |  | 8260 | 0 | 0 |
| WISDOMTREE TR | US QUALITY GROW | 97717Y477 |  | 472193 | 8232 | SH |  | SOLE |  | 8232 | 0 | 0 |
| WISDOMTREE TR | ENHNCD CMMDTY ST | 97717Y683 |  | 1176792 | 55016 | SH |  | SOLE |  | 55016 | 0 | 0 |
| WISDOMTREE TR | MORTGAGE PLUS BD | 97717Y725 |  | 479863 | 10770 | SH |  | SOLE |  | 10770 | 0 | 0 |
| ZACKS TRUST | EARNGS CONSTANT | 98888G105 |  | 708333 | 21069 | SH |  | SOLE |  | 21069 | 0 | 0 |
| ZACKS TRUST | SMALL/MID CAP | 98888G204 |  | 277065 | 7418 | SH |  | SOLE |  | 7418 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 55658 | 12259 | SH |  | SOLE |  | 12259 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 422526 | 6260 | SH |  | SOLE |  | 6260 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 456217 | 2820 | SH |  | SOLE |  | 2820 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 4827818 | 47501 | SH |  | SOLE |  | 47501 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 306110 | 1085 | SH |  | SOLE |  | 1085 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 340543 | 1386 | SH |  | SOLE |  | 1386 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 18287425 | 93681 | SH |  | SOLE |  | 93681 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 208879 | 1020 | SH |  | SOLE |  | 1020 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 2096913 | 14391 | SH |  | SOLE |  | 14391 | 0 | 0 |
| ASTRONICS CORP | COM | 046433108 |  | 667046 | 14625 | SH |  | SOLE |  | 14625 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 697603 | 2196 | SH |  | SOLE |  | 2196 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1446870 | 11009 | SH |  | SOLE |  | 11009 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1083434 | 49399 | SH |  | SOLE |  | 49399 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 45535 | 21116 | SH |  | SOLE |  | 21116 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 682315 | 8905 | SH |  | SOLE |  | 8905 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 812931 | 1617 | SH |  | SOLE |  | 1617 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 154359 | 23098 | SH |  | SOLE |  | 23098 | 0 | 0 |
| CECO ENVIRONMENTAL CORP | COM | 125141101 |  | 1513523 | 29561 | SH |  | SOLE |  | 29561 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 588679 | 6563 | SH |  | SOLE |  | 6563 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 812464 | 2313 | SH |  | SOLE |  | 2313 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 683983 | 2670 | SH |  | SOLE |  | 2670 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 191559 | 18579 | SH |  | SOLE |  | 18579 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 381967 | 23149 | SH |  | SOLE |  | 23149 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 714663 | 15892 | SH |  | SOLE |  | 15892 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 707765 | 6982 | SH |  | SOLE |  | 6982 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 235011 | 13632 | SH |  | SOLE |  | 13632 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 460648 | 1682 | SH |  | SOLE |  | 1682 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 37703 | 13252 | SH |  | SOLE |  | 13252 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 528907 | 16914 | SH |  | SOLE |  | 16914 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 643475 | 5249 | SH |  | SOLE |  | 5249 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 822256 | 19383 | SH |  | SOLE |  | 19383 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 607722 | 3784 | SH |  | SOLE |  | 3784 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 349131 | 1024 | SH |  | SOLE |  | 1024 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 944379 | 8508 | SH |  | SOLE |  | 8508 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 526465 | 3535 | SH |  | SOLE |  | 3535 | 0 | 0 |
| HEXCEL CORP NEW | COM | 428291108 |  | 38985 | 28497 | SH |  | SOLE |  | 28497 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 257505 | 1223 | SH |  | SOLE |  | 1223 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 395981 | 3574 | SH |  | SOLE |  | 3574 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 756847 | 1108 | SH |  | SOLE |  | 1108 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 928945 | 9582 | SH |  | SOLE |  | 9582 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 1738254 | 10305 | SH |  | SOLE |  | 10305 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 979976 | 7319 | SH |  | SOLE |  | 7319 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 540032 | 8275 | SH |  | SOLE |  | 8275 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 551227 | 3098 | SH |  | SOLE |  | 3098 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 115608 | 47567 | SH |  | SOLE |  | 47567 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 349064 | 554 | SH |  | SOLE |  | 554 | 0 | 0 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 1557732 | 1692 | SH |  | SOLE |  | 1692 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 577286 | 1212 | SH |  | SOLE |  | 1212 | 0 | 0 |
| NEW JERSEY RES CORP | COM | 646025106 |  | 1456330 | 30246 | SH |  | SOLE |  | 30246 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 839728 | 9960 | SH |  | SOLE |  | 9960 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 726107 | 11446 | SH |  | SOLE |  | 11446 | 0 | 0 |
| NUCOR CORP | COM | 670346105 |  | 281138 | 2076 | SH |  | SOLE |  | 2076 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 267964 | 1316 | SH |  | SOLE |  | 1316 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 857601 | 6107 | SH |  | SOLE |  | 6107 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 265746 | 12310 | SH |  | SOLE |  | 12310 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 599655 | 2428 | SH |  | SOLE |  | 2428 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 372404 | 4462 | SH |  | SOLE |  | 4462 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 646969 | 3748 | SH |  | SOLE |  | 3748 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 839357 | 3066 | SH |  | SOLE |  | 3066 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 734662 | 26678 | SH |  | SOLE |  | 26678 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 641327 | 8615 | SH |  | SOLE |  | 8615 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 483643 | 4169 | SH |  | SOLE |  | 4169 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 411265 | 2950 | SH |  | SOLE |  | 2950 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 773142 | 1567 | SH |  | SOLE |  | 1567 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 458163 | 5564 | SH |  | SOLE |  | 5564 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 247007 | 1709 | SH |  | SOLE |  | 1709 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 296429 | 3708 | SH |  | SOLE |  | 3708 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 483855 | 2047 | SH |  | SOLE |  | 2047 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 347150 | 1129 | SH |  | SOLE |  | 1129 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 1134757 | 13538 | SH |  | SOLE |  | 13538 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 703187 | 3598 | SH |  | SOLE |  | 3598 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 |  | 557175 | 1875 | SH |  | SOLE |  | 1875 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 301708 | 4944 | SH |  | SOLE |  | 4944 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 818952 | 2929 | SH |  | SOLE |  | 2929 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 1229586 | 14624 | SH |  | SOLE |  | 14624 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 311158 | 29162 | SH |  | SOLE |  | 29162 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 791508 | 10372 | SH |  | SOLE |  | 10372 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 1048726 | 2973 | SH |  | SOLE |  | 2973 | 0 | 0 |
| AKEBIA THERAPEUTICS INC | COM | 00972D105 |  | 54600 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 2640234 | 18836 | SH |  | SOLE |  | 18836 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3620023 | 14891 | SH |  | SOLE |  | 14891 | 0 | 0 |
| OKLO INC | COM CL A | 02156V109 |  | 283429 | 2539 | SH |  | SOLE |  | 2539 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 205715 | 8473 | SH |  | SOLE |  | 8473 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 377234 | 525 | SH |  | SOLE |  | 525 | 0 | 0 |
| ARCBEST CORP | COM | 03937C105 |  | 445701 | 6379 | SH |  | SOLE |  | 6379 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 337290 | 470 | SH |  | SOLE |  | 470 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 875482 | 8681 | SH |  | SOLE |  | 8681 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 725680 | 2959 | SH |  | SOLE |  | 2959 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 762604 | 5760 | SH |  | SOLE |  | 5760 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 1371403 | 57739 | SH |  | SOLE |  | 57739 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 804394 | 39649 | SH |  | SOLE |  | 39649 | 0 | 0 |
| CRONOS GROUP INC | COM | 22717L101 |  | 69500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 399169 | 9086 | SH |  | SOLE |  | 9086 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 798572 | 5633 | SH |  | SOLE |  | 5633 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 801713 | 26538 | SH |  | SOLE |  | 26538 | 0 | 0 |
| D-WAVE QUANTUM INC | COM | 26740W109 |  | 274758 | 13948 | SH |  | SOLE |  | 13948 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 743596 | 6632 | SH |  | SOLE |  | 6632 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 596109 | 46308 | SH |  | SOLE |  | 46308 | 0 | 0 |
| ERIE INDTY CO | CL A | 29530P102 |  | 514781 | 1618 | SH |  | SOLE |  | 1618 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2309579 | 38532 | SH |  | SOLE |  | 38532 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 5178843 | 21792 | SH |  | SOLE |  | 21792 | 0 | 0 |
| FOX CORP | CL A COM | 35137L105 |  | 683931 | 10846 | SH |  | SOLE |  | 10846 | 0 | 0 |
| FRONTDOOR INC | COM | 35905A109 |  | 803577 | 11942 | SH |  | SOLE |  | 11942 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 874958 | 8103 | SH |  | SOLE |  | 8103 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 1800186 | 5121 | SH |  | SOLE |  | 5121 | 0 | 0 |
| GRAND CANYON ED INC | COM | 38526M106 |  | 859201 | 3914 | SH |  | SOLE |  | 3914 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 205194 | 481 | SH |  | SOLE |  | 481 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 707996 | 28827 | SH |  | SOLE |  | 28827 | 0 | 0 |
| INSULET CORP | COM | 45784P101 |  | 650803 | 2108 | SH |  | SOLE |  | 2108 | 0 | 0 |
| INTERDIGITAL INC | COM | 45867G101 |  | 1076164 | 3117 | SH |  | SOLE |  | 3117 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 525495 | 1175 | SH |  | SOLE |  | 1175 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 4553751 | 18892 | SH |  | SOLE |  | 18892 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 |  | 491291 | 2486 | SH |  | SOLE |  | 2486 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 789763 | 1392 | SH |  | SOLE |  | 1392 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 841544 | 1479 | SH |  | SOLE |  | 1479 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 204639 | 265 | SH |  | SOLE |  | 265 | 0 | 0 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 1125496 | 2189 | SH |  | SOLE |  | 2189 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 834437 | 12703 | SH |  | SOLE |  | 12703 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 393698 | 49 | SH |  | SOLE |  | 49 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 1130582 | 943 | SH |  | SOLE |  | 943 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 623727 | 20310 | SH |  | SOLE |  | 20310 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 136315 | 11813 | SH |  | SOLE |  | 11813 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 8492057 | 62900 | SH |  | SOLE |  | 62900 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1466810 | 7006 | SH |  | SOLE |  | 7006 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 381213 | 17648 | SH |  | SOLE |  | 17648 | 0 | 0 |
| PARAMOUNT SKYDANCE CORP | COM CL B | 69932A204 |  | 11142 | 11142 | SH |  | SOLE |  | 11142 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 636862 | 6205 | SH |  | SOLE |  | 6205 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 285468 | 1205 | SH |  | SOLE |  | 1205 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 326699 | 355 | SH |  | SOLE |  | 355 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 580025 | 3903 | SH |  | SOLE |  | 3903 | 0 | 0 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 856043 | 28975 | SH |  | SOLE |  | 28975 | 0 | 0 |
| STRIDE INC | COM | 86333M108 |  | 894236 | 6004 | SH |  | SOLE |  | 6004 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 1681712 | 3782 | SH |  | SOLE |  | 3782 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 2020528 | 2164 | SH |  | SOLE |  | 2164 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 1034706 | 6668 | SH |  | SOLE |  | 6668 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 240911 | 75480 | SH |  | SOLE |  | 75480 | 0 | 0 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 981371 | 2341 | SH |  | SOLE |  | 2341 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 881900 | 5901 | SH |  | SOLE |  | 5901 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 514551 | 36182 | SH |  | SOLE |  | 36182 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 358307 | 2375 | SH |  | SOLE |  | 2375 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1864329 | 15787 | SH |  | SOLE |  | 15787 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 333014 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 207282 | 939 | SH |  | SOLE |  | 939 | 0 | 0 |
| WEX INC | COM | 96208T104 |  | 766856 | 4868 | SH |  | SOLE |  | 4868 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 721551 | 6287 | SH |  | SOLE |  | 6287 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 916410 | 11108 | SH |  | SOLE |  | 11108 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 203344 | 2331 | SH |  | SOLE |  | 2331 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 212586 | 5043 | SH |  | SOLE |  | 5043 | 0 | 0 |
| HELEN OF TROY LTD | COM | G4388N106 |  | 455087 | 18059 | SH |  | SOLE |  | 18059 | 0 | 0 |
| GARMIN LTD | SHS | H2906T109 |  | 1633760 | 6635 | SH |  | SOLE |  | 6635 | 0 | 0 |
| CHARLES RIV LABS INTL INC | COM | 159864107 |  | 236724 | 1513 | SH |  | SOLE |  | 1513 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1811983 | 23167 | SH |  | SOLE |  | 23167 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 2648856 | 3472 | SH |  | SOLE |  | 3472 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 1204908 | 16121 | SH |  | SOLE |  | 16121 | 0 | 0 |
| HIMS  HERS HEALTH INC | COM CL A | 433000106 |  | 578544 | 10200 | SH |  | SOLE |  | 10200 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 4887478 | 16123 | SH |  | SOLE |  | 16123 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 1797262 | 12449 | SH |  | SOLE |  | 12449 | 0 | 0 |
| ISHARES TR | US INDUSTRIALS | 464287754 |  | 1351677 | 9266 | SH |  | SOLE |  | 9266 | 0 | 0 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 7118164 | 36343 | SH |  | SOLE |  | 36343 | 0 | 0 |
| ISHARES TR | EXPND TEC SC ETF | 464287549 |  | 1225637 | 9731 | SH |  | SOLE |  | 9731 | 0 | 0 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 1838205 | 15983 | SH |  | SOLE |  | 15983 | 0 | 0 |
| ISHARES TR | US HLTHCARE ETF | 464287762 |  | 2111865 | 35965 | SH |  | SOLE |  | 35965 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 2063022 | 9938 | SH |  | SOLE |  | 9938 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 295990 | 1769 | SH |  | SOLE |  | 1769 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 7396742 | 61216 | SH |  | SOLE |  | 61216 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 882511 | 6962 | SH |  | SOLE |  | 6962 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 2224079 | 38062 | SH |  | SOLE |  | 38062 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 905420 | 120144 | SH |  | SOLE |  | 120144 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 339126 | 5963 | SH |  | SOLE |  | 5963 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 2149102 | 23778 | SH |  | SOLE |  | 23778 | 0 | 0 |

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