# EDGAR Filing Document

**Accession Number:** 0001819815
**File Stem:** 0001819815-25-000006
**Filing Date:** 2025-11
**Character Count:** 17502
**Document Hash:** 4ed08723974a91449ca973fa143302fb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001819815-25-000006.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001819815-25-000006

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bellwether Advisors, LLC
- **CENTRAL INDEX KEY:** 0001819815

**ORGANIZATION NAME:**
- **EIN:** 833629267

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20498
- **FILM NUMBER:** 251471848

**BUSINESS ADDRESS:**
- **STREET 1:** 140 N 8TH STREET
- **STREET 2:** SUITE 210
- **CITY:** LINCOLN
- **STATE:** NE
- **ZIP:** 68508
- **BUSINESS PHONE:** 402-476-8844

**MAIL ADDRESS:**
- **STREET 1:** 140 N 8TH STREET
- **STREET 2:** SUITE 210
- **CITY:** LINCOLN
- **STATE:** NE
- **ZIP:** 68508

### 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:** Bellwether Advisors LLC<br>**Address:** 140 N 8TH STREET<br>SUITE 210<br>LINCOLN, NE 68508

**Form 13F File Number:** 028-20498

**CRD Number (if applicable):** 000300012

**SEC File Number (if applicable):** 801-114600

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:** LEILA SHAVER<br>**Title:** CCO<br>**Phone:** 7704622118

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

LEILA SHAVER  ALPHARETTA, GA  09-30-2025<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:** 136

**Form 13F Information Table Value Total:** $604860625

      (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 |
| ABBVIE INC | COM | 00287Y109 |  | 5245076 | 22653 | SH |  | SOLE |  | 22581 | 0 | 72 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 878563 | 3614 | SH |  | SOLE |  | 3281 | 0 | 333 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 2998946 | 12313 | SH |  | SOLE |  | 7036 | 0 | 5277 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 2536324 | 5163 | SH |  | SOLE |  | 2779 | 0 | 2384 |
| AT INC | COM | 00206R102 |  | 403945 | 14304 | SH |  | SOLE |  | 13665 | 0 | 639 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 4260629 | 5937 | SH |  | SOLE |  | 3169 | 0 | 2768 |
| BLACKROCK INC | COM | 09290D101 |  | 262321 | 225 | SH |  | SOLE |  | 132 | 0 | 93 |
| BLACKSTONE INC | COM | 09260D107 |  | 1285305 | 7523 | SH |  | SOLE |  | 3384 | 0 | 4139 |
| BROADCOM INC | COM | 11135F101 |  | 14806005 | 44879 | SH |  | SOLE |  | 17700 | 0 | 27179 |
| CARVANA CO | CL A | 146869102 |  | 4120215 | 10922 | SH |  | SOLE |  | 5825 | 0 | 5097 |
| CATERPILLAR INC | COM | 149123101 |  | 2370481 | 4968 | SH |  | SOLE |  | 2640 | 0 | 2328 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 2713418 | 13114 | SH |  | SOLE |  | 7004 | 0 | 6110 |
| CINTAS CORP | COM | 172908105 |  | 4410832 | 21489 | SH |  | SOLE |  | 11727 | 0 | 9762 |
| CME GROUP INC | COM | 12572Q105 |  | 212640 | 787 | SH |  | SOLE |  | 785 | 0 | 2 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 214436 | 2267 | SH |  | SOLE |  | 1559 | 0 | 708 |
| COUPANG INC | CL A | 22266T109 |  | 4277899 | 132854 | SH |  | SOLE |  | 70919 | 0 | 61935 |
| DBX ETF TR | XTRACK MSCI EAFE | 233051200 |  | 874135 | 18831 | SH |  | SOLE |  | 15351 | 0 | 3480 |
| DIMENSIONAL ETF TRUST | US MKTWIDE VALUE | 25434V724 |  | 217417 | 4865 | SH |  | SOLE |  | 4865 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 2025366 | 22269 | SH |  | SOLE |  | 11958 | 0 | 10311 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 2509350 | 12441 | SH |  | SOLE |  | 6634 | 0 | 5807 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 4376601 | 6738 | SH |  | SOLE |  | 3597 | 0 | 3141 |
| FASTENAL CO | COM | 311900104 |  | 2667286 | 54390 | SH |  | SOLE |  | 28837 | 0 | 25553 |
| FIRST TR EXCHANGE TRADED FD | FINLS ALPHADEX | 33734X135 |  | 241420 | 4065 | SH |  | SOLE |  | 4065 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | INDLS PROD DUR | 33734X150 |  | 206859 | 2650 | SH |  | SOLE |  | 2650 | 0 | 0 |
| FS KKR CAP CORP | COM | 302635206 |  | 404155 | 27070 | SH |  | SOLE |  | 4486 | 0 | 22584 |
| GE AEROSPACE | COM NEW | 369604301 |  | 2316314 | 7700 | SH |  | SOLE |  | 4061 | 0 | 3639 |
| GE VERNOVA INC | COM | 36828A101 |  | 4437733 | 7217 | SH |  | SOLE |  | 3831 | 0 | 3386 |
| GRAINGER W W INC | COM | 384802104 |  | 394525 | 414 | SH |  | SOLE |  | 394 | 0 | 20 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 1580760 | 17609 | SH |  | SOLE |  | 9 | 0 | 17600 |
| HEICO CORP NEW | COM | 422806109 |  | 4228296 | 13098 | SH |  | SOLE |  | 6988 | 0 | 6110 |
| HOME DEPOT INC | COM | 437076102 |  | 400328 | 988 | SH |  | SOLE |  | 174 | 0 | 814 |
| INNOVATOR ETFS TRUST | LADERD ALCTN PWR | 45783Y814 |  | 410191 | 8396 | SH |  | SOLE |  | 3000 | 0 | 5396 |
| INNOVATOR ETFS TRUST | US EQT BUFR APR | 45782C888 |  | 251044 | 5352 | SH |  | SOLE |  | 4127 | 0 | 1225 |
| INNOVATOR ETFS TRUST | US EQT PWR BUF | 45782C870 |  | 8044015 | 209698 | SH |  | SOLE |  | 76507 | 0 | 133191 |
| INNOVATOR ETFS TRUST | US EQTY BUF DEC | 45782C557 |  | 856413 | 17868 | SH |  | SOLE |  | 8312 | 0 | 9556 |
| INNOVATOR ETFS TRUST | US EQTY BUF OCT | 45782C771 |  | 394478 | 8147 | SH |  | SOLE |  | 7891 | 0 | 256 |
| INNOVATOR ETFS TRUST | US EQTY BUF SEP | 45782C664 |  | 597926 | 12383 | SH |  | SOLE |  | 2458 | 0 | 9925 |
| INNOVATOR ETFS TRUST | US EQTY BUFR FEB | 45782C433 |  | 3224387 | 68241 | SH |  | SOLE |  | 37354 | 0 | 30887 |
| INNOVATOR ETFS TRUST | US EQTY BUFR JAN | 45782C409 |  | 2040093 | 38481 | SH |  | SOLE |  | 33968 | 0 | 4513 |
| INNOVATOR ETFS TRUST | US EQTY BUFR JUL | 45782C789 |  | 3750460 | 75522 | SH |  | SOLE |  | 44439 | 0 | 31083 |
| INNOVATOR ETFS TRUST | US EQTY BUFR MAR | 45782C391 |  | 552528 | 10709 | SH |  | SOLE |  | 543 | 0 | 10166 |
| INNOVATOR ETFS TRUST | US EQTY PWR BF | 45782C680 |  | 3607189 | 84935 | SH |  | SOLE |  | 26565 | 0 | 58370 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C540 |  | 8363031 | 199025 | SH |  | SOLE |  | 84683 | 0 | 114342 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C656 |  | 5711792 | 132987 | SH |  | SOLE |  | 28248 | 0 | 104739 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C417 |  | 2125082 | 53542 | SH |  | SOLE |  | 24114 | 0 | 29428 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C797 |  | 1876445 | 43537 | SH |  | SOLE |  | 26628 | 0 | 16909 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C383 |  | 4585477 | 104429 | SH |  | SOLE |  | 36513 | 0 | 67916 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C813 |  | 2068142 | 45354 | SH |  | SOLE |  | 36055 | 0 | 9299 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C508 |  | 12317253 | 268965 | SH |  | SOLE |  | 119848 | 0 | 149117 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C318 |  | 747445 | 19217 | SH |  | SOLE |  | 16 | 0 | 19201 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C573 |  | 3934616 | 95826 | SH |  | SOLE |  | 35975 | 0 | 59851 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C748 |  | 5242387 | 127397 | SH |  | SOLE |  | 76255 | 0 | 51142 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 2499867 | 36330 | SH |  | SOLE |  | 20009 | 0 | 16321 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1733485 | 26669 | SH |  | SOLE |  | 13 | 0 | 26656 |
| ISHARES INC | MSCI EMERG MRKT | 464286533 |  | 673905 | 10558 | SH |  | SOLE |  | 1016 | 0 | 9542 |
| ISHARES INC | MSCI GBL MIN VOL | 464286525 |  | 877158 | 7315 | SH |  | SOLE |  | 1704 | 0 | 5611 |
| ISHARES TR | CORE 1 5 YR USD | 46432F859 |  | 1377532 | 28205 | SH |  | SOLE |  | 1621 | 0 | 26584 |
| ISHARES TR | CORE 60/40 BALAN | 464289867 |  | 315011 | 4893 | SH |  | SOLE |  | 1233 | 0 | 3660 |
| ISHARES TR | CORE 80/20 AGGRE | 464289859 |  | 411526 | 4669 | SH |  | SOLE |  | 775 | 0 | 3894 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 293896 | 3366 | SH |  | SOLE |  | 678 | 0 | 2688 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 3129274 | 37894 | SH |  | SOLE |  | 11885 | 0 | 26009 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 6128042 | 93902 | SH |  | SOLE |  | 36458 | 0 | 57444 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 5366351 | 45160 | SH |  | SOLE |  | 16308 | 0 | 28852 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 223136 | 1532 | SH |  | SOLE |  | 93 | 0 | 1439 |
| ISHARES TR | CORE S ETF | 464287200 |  | 38647931 | 57744 | SH |  | SOLE |  | 12994 | 0 | 44750 |
| ISHARES TR | CORE TOTAL USD | 46434V613 |  | 351773 | 7531 | SH |  | SOLE |  | 138 | 0 | 7393 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 1746513 | 17422 | SH |  | SOLE |  | 1388 | 0 | 16033 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 327309 | 2248 | SH |  | SOLE |  | 755 | 0 | 1493 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 767231 | 15019 | SH |  | SOLE |  | 1025 | 0 | 13994 |
| ISHARES TR | GLOBAL TECH ETF | 464287291 |  | 6656942 | 64499 | SH |  | SOLE |  | 10756 | 0 | 53743 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 1713816 | 11871 | SH |  | SOLE |  | 2614 | 0 | 9257 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 280130 | 2943 | SH |  | SOLE |  | 0 | 0 | 2943 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 790120 | 5716 | SH |  | SOLE |  | 1642 | 0 | 4074 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 |  | 1452681 | 17125 | SH |  | SOLE |  | 7922 | 0 | 9203 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 9829663 | 103318 | SH |  | SOLE |  | 20072 | 0 | 83246 |
| ISHARES TR | MSCI USA MMENTM | 46432F396 |  | 4730220 | 18445 | SH |  | SOLE |  | 3766 | 0 | 14679 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 2091819 | 17328 | SH |  | SOLE |  | 2694 | 0 | 14634 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 448617 | 2172 | SH |  | SOLE |  | 0 | 0 | 2172 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 287084 | 2213 | SH |  | SOLE |  | 3 | 0 | 2210 |
| ISHARES TR | U S EQUITY FACTR | 46434V282 |  | 713145 | 10323 | SH |  | SOLE |  | 0 | 0 | 10323 |
| ISHARES TR | US CONSM STAPLES | 464287812 |  | 510258 | 7461 | SH |  | SOLE |  | 7413 | 0 | 48 |
| ISHARES TR | US HLTHCARE ETF | 464287762 |  | 773284 | 13169 | SH |  | SOLE |  | 13025 | 0 | 144 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 307565 | 13303 | SH |  | SOLE |  | 718 | 0 | 12585 |
| ISHARES TR | USD INV GRDE ETF | 464288620 |  | 1562721 | 29926 | SH |  | SOLE |  | 766 | 0 | 29160 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 1107340 | 19393 | SH |  | SOLE |  | 16120 | 0 | 3273 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 353282 | 1120 | SH |  | SOLE |  | 199 | 0 | 921 |
| KKR  CO INC | COM | 48251W104 |  | 1008282 | 7759 | SH |  | SOLE |  | 4113 | 0 | 3646 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 2421290 | 7928 | SH |  | SOLE |  | 4226 | 0 | 3702 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 244613 | 490 | SH |  | SOLE |  | 85 | 0 | 405 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 329098 | 1633 | SH |  | SOLE |  | 956 | 0 | 677 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 2141570 | 3765 | SH |  | SOLE |  | 2041 | 0 | 1724 |
| MATCH GROUP INC NEW | COM | 57667L107 |  | 1962061 | 55551 | SH |  | SOLE |  | 29641 | 0 | 25910 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 4239209 | 1814 | SH |  | SOLE |  | 970 | 0 | 844 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2560967 | 3487 | SH |  | SOLE |  | 2036 | 0 | 1451 |
| MICROSOFT CORP | COM | 594918104 |  | 5853073 | 11300 | SH |  | SOLE |  | 4654 | 0 | 6646 |
| MICROVISION INC DEL | COM NEW | 594960304 |  | 12400 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| MOODYS CORP | COM | 615369105 |  | 978690 | 2054 | SH |  | SOLE |  | 1087 | 0 | 967 |
| NASDAQ INC | COM | 631103108 |  | 957383 | 10824 | SH |  | SOLE |  | 5764 | 0 | 5060 |
| NETFLIX INC | COM | 64110L106 |  | 5542607 | 4623 | SH |  | SOLE |  | 2537 | 0 | 2086 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 2234376 | 3667 | SH |  | SOLE |  | 1946 | 0 | 1721 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 11215203 | 60109 | SH |  | SOLE |  | 33545 | 0 | 26564 |
| ORACLE CORP | COM | 68389X105 |  | 4835922 | 17195 | SH |  | SOLE |  | 10420 | 0 | 6775 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 2389501 | 22164 | SH |  | SOLE |  | 12537 | 0 | 9627 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 11327370 | 62095 | SH |  | SOLE |  | 33099 | 0 | 28996 |
| REDDIT INC | CL A | 75734B100 |  | 2168346 | 9428 | SH |  | SOLE |  | 5011 | 0 | 4417 |
| ROBLOX CORP | CL A | 771049103 |  | 10128305 | 73118 | SH |  | SOLE |  | 38876 | 0 | 34242 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 2237691 | 6402 | SH |  | SOLE |  | 3412 | 0 | 2990 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 5976846 | 18471 | SH |  | SOLE |  | 9857 | 0 | 8614 |
| S GLOBAL INC | COM | 78409V104 |  | 1898656 | 3901 | SH |  | SOLE |  | 2108 | 0 | 1793 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 1334957 | 13983 | SH |  | SOLE |  | 6280 | 0 | 7703 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 236302 | 10150 | SH |  | SOLE |  | 0 | 0 | 10150 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 234263 | 7341 | SH |  | SOLE |  | 0 | 0 | 7341 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 275758 | 9473 | SH |  | SOLE |  | 0 | 0 | 9473 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 46716851 | 394668 | SH |  | SOLE |  | 182794 | 0 | 211874 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 24130407 | 447938 | SH |  | SOLE |  | 217797 | 0 | 230141 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 46052153 | 298594 | SH |  | SOLE |  | 137120 | 0 | 161474 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 46299886 | 193206 | SH |  | SOLE |  | 90007 | 0 | 103199 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 74840352 | 265523 | SH |  | SOLE |  | 120941 | 0 | 144582 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 670706 | 1937 | SH |  | SOLE |  | 568 | 0 | 1369 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 5611839 | 8424 | SH |  | SOLE |  | 7627 | 0 | 797 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 5184046 | 7427 | SH |  | SOLE |  | 3935 | 0 | 3492 |
| STRYKER CORPORATION | COM | 863667101 |  | 222911 | 603 | SH |  | SOLE |  | 158 | 0 | 445 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 5451396 | 21100 | SH |  | SOLE |  | 11270 | 0 | 9830 |
| TESLA INC | COM | 88160R101 |  | 301520 | 678 | SH |  | SOLE |  | 254 | 0 | 424 |
| UBIQUITI INC | COM | 90353W103 |  | 3429731 | 5192 | SH |  | SOLE |  | 2766 | 0 | 2426 |
| UNION PAC CORP | COM | 907818108 |  | 318390 | 1347 | SH |  | SOLE |  | 578 | 0 | 769 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 233434 | 2419 | SH |  | SOLE |  | 2416 | 0 | 3 |
| UNITED RENTALS INC | COM | 911363109 |  | 5643950 | 5912 | SH |  | SOLE |  | 1525 | 0 | 4387 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 269070 | 874 | SH |  | SOLE |  | 216 | 0 | 658 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 421930 | 689 | SH |  | SOLE |  | 0 | 0 | 689 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 241372 | 4455 | SH |  | SOLE |  | 2980 | 0 | 1475 |
| VIKING HOLDINGS LTD | ORD SHS | G93A5A101 |  | 2180324 | 35076 | SH |  | SOLE |  | 18744 | 0 | 16332 |
| VISA INC | COM CL A | 92826C839 |  | 2384881 | 6986 | SH |  | SOLE |  | 3952 | 0 | 3034 |
| WALMART INC | COM | 931142103 |  | 370810 | 3598 | SH |  | SOLE |  | 901 | 0 | 2697 |
| WERNER ENTERPRISES INC | COM | 950755108 |  | 325815 | 12379 | SH |  | SOLE |  | 40 | 0 | 12339 |
| ZILLOW GROUP INC | CL C CAP STK | 98954M200 |  | 1757511 | 22810 | SH |  | SOLE |  | 12158 | 0 | 10652 |

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