# EDGAR Filing Document

**Accession Number:** 0001542265
**File Stem:** 0001542265-26-000001
**Filing Date:** 2026-1
**Character Count:** 38457
**Document Hash:** 77afafb6b769208490fcff364ba3731f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001542265-26-000001.hdr.sgml**: 20260108

**ACCESSION NUMBER**: 0001542265-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260108

**DATE AS OF CHANGE**: 20260108

**EFFECTIVENESS DATE**: 20260108

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gradient Investments LLC
- **CENTRAL INDEX KEY:** 0001542265

**ORGANIZATION NAME:**
- **EIN:** 205397206
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14840
- **FILM NUMBER:** 26518349

**BUSINESS ADDRESS:**
- **STREET 1:** 4105 LEXINGTON AVENUE NORTH
- **STREET 2:** SUITE 250
- **CITY:** ARDEN HILLS
- **STATE:** MN
- **ZIP:** 55126
- **BUSINESS PHONE:** 888-824-3525

**MAIL ADDRESS:**
- **STREET 1:** 4105 LEXINGTON AVENUE NORTH
- **STREET 2:** SUITE 250
- **CITY:** ARDEN HILLS
- **STATE:** MN
- **ZIP:** 55126

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Gradient Investments LLC<br>**Address:** 4105 LEXINGTON AVENUE NORTH<br>SUITE 250<br>ARDEN HILLS, MN 55126

**Form 13F File Number:** 028-14840

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:** Nicole Alexander<br>**Title:** Chief Compliance Officer<br>**Phone:** 888-824-3525

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

Nicole Alexander  Arden Hills, MN  01-08-2026<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:** 343

**Form 13F Information Table Value Total:** $6299801106

      (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 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2214367 | 33551 | SH |  | SOLE |  | 0 | 0 | 33551 |
| ISHARES TR | CORE S ETF | 464287200 |  | 18582557 | 27130 | SH |  | SOLE |  | 0 | 0 | 27130 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 373971 | 3034 | SH |  | SOLE |  | 0 | 0 | 3034 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 2903683 | 4258 | SH |  | SOLE |  | 0 | 0 | 4258 |
| AMAZON COM INC | COM | 023135106 |  | 140404945 | 608288 | SH |  | SOLE |  | 0 | 0 | 608288 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 336382 | 6236 | SH |  | SOLE |  | 0 | 0 | 6236 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 42204992 | 83965 | SH |  | SOLE |  | 0 | 0 | 83965 |
| BOEING CO | COM | 097023105 |  | 1125116 | 5182 | SH |  | SOLE |  | 0 | 0 | 5182 |
| SYNOPSYS INC | COM | 871607107 |  | 19518745 | 41554 | SH |  | SOLE |  | 0 | 0 | 41554 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 9865918 | 16060 | SH |  | SOLE |  | 0 | 0 | 16060 |
| AMGEN INC | COM | 031162100 |  | 15108642 | 46160 | SH |  | SOLE |  | 0 | 0 | 46160 |
| ABBOTT LABS | COM | 002824100 |  | 43418112 | 346541 | SH |  | SOLE |  | 0 | 0 | 346541 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 661754 | 3090 | SH |  | SOLE |  | 0 | 0 | 3090 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 13151202 | 228082 | SH |  | SOLE |  | 0 | 0 | 228082 |
| INTEL CORP | COM | 458140100 |  | 261756 | 7094 | SH |  | SOLE |  | 0 | 0 | 7094 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 15437345 | 62677 | SH |  | SOLE |  | 0 | 0 | 62677 |
| KEYCORP | COM | 493267108 |  | 18525702 | 897563 | SH |  | SOLE |  | 0 | 0 | 897563 |
| ORACLE CORP | COM | 68389X105 |  | 1937716 | 9942 | SH |  | SOLE |  | 0 | 0 | 9942 |
| QUALCOMM INC | COM | 747525103 |  | 13010345 | 76062 | SH |  | SOLE |  | 0 | 0 | 76062 |
| DISNEY WALT CO | COM | 254687106 |  | 810628 | 7125 | SH |  | SOLE |  | 0 | 0 | 7125 |
| HONEYWELL INTL INC | COM | 438516106 |  | 798308 | 4092 | SH |  | SOLE |  | 0 | 0 | 4092 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 1127948 | 3481 | SH |  | SOLE |  | 0 | 0 | 3481 |
| SEMPRA | COM | 816851109 |  | 822951 | 9321 | SH |  | SOLE |  | 0 | 0 | 9321 |
| SYSCO CORP | COM | 871829107 |  | 1102565 | 14962 | SH |  | SOLE |  | 0 | 0 | 14962 |
| US BANCORP DEL | COM NEW | 902973304 |  | 15181550 | 284512 | SH |  | SOLE |  | 0 | 0 | 284512 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 31427872 | 151862 | SH |  | SOLE |  | 0 | 0 | 151862 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 46025548 | 479133 | SH |  | SOLE |  | 0 | 0 | 479133 |
| PFIZER INC | COM | 717081103 |  | 3082725 | 123804 | SH |  | SOLE |  | 0 | 0 | 123804 |
| EDISON INTL | COM | 281020107 |  | 15788621 | 263056 | SH |  | SOLE |  | 0 | 0 | 263056 |
| KROGER CO | COM | 501044101 |  | 390781 | 6254 | SH |  | SOLE |  | 0 | 0 | 6254 |
| LOWES COS INC | COM | 548661107 |  | 37029745 | 153548 | SH |  | SOLE |  | 0 | 0 | 153548 |
| CHEVRON CORP NEW | COM | 166764100 |  | 51713756 | 339307 | SH |  | SOLE |  | 0 | 0 | 339307 |
| MICROSOFT CORP | COM | 594918104 |  | 144679424 | 299159 | SH |  | SOLE |  | 0 | 0 | 299159 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 14076416 | 141914 | SH |  | SOLE |  | 0 | 0 | 141914 |
| AT INC | COM | 00206R102 |  | 568681 | 22894 | SH |  | SOLE |  | 0 | 0 | 22894 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 14061639 | 124572 | SH |  | SOLE |  | 0 | 0 | 124572 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 328349 | 6672 | SH |  | SOLE |  | 0 | 0 | 6672 |
| CITIGROUP INC | COM NEW | 172967424 |  | 18136310 | 155423 | SH |  | SOLE |  | 0 | 0 | 155423 |
| CISCO SYS INC | COM | 17275R102 |  | 14428347 | 187308 | SH |  | SOLE |  | 0 | 0 | 187308 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 13101216 | 44229 | SH |  | SOLE |  | 0 | 0 | 44229 |
| COCA COLA CO | COM | 191216100 |  | 41039885 | 587039 | SH |  | SOLE |  | 0 | 0 | 587039 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 5787270 | 11965 | SH |  | SOLE |  | 0 | 0 | 11965 |
| PEPSICO INC | COM | 713448108 |  | 509406 | 3549 | SH |  | SOLE |  | 0 | 0 | 3549 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 241058 | 5918 | SH |  | SOLE |  | 0 | 0 | 5918 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 46935870 | 856963 | SH |  | SOLE |  | 0 | 0 | 856963 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 378419 | 2628 | SH |  | SOLE |  | 0 | 0 | 2628 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y407 |  | 304137 | 2547 | SH |  | SOLE |  | 0 | 0 | 2547 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 571166 | 2599 | SH |  | SOLE |  | 0 | 0 | 2599 |
| BANK AMERICA CORP | COM | 060505104 |  | 37737798 | 686142 | SH |  | SOLE |  | 0 | 0 | 686142 |
| STARBUCKS CORP | COM | 855244109 |  | 27818251 | 330344 | SH |  | SOLE |  | 0 | 0 | 330344 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 17282254 | 143612 | SH |  | SOLE |  | 0 | 0 | 143612 |
| AFLAC INC | COM | 001055102 |  | 794275 | 7203 | SH |  | SOLE |  | 0 | 0 | 7203 |
| WALMART INC | COM | 931142103 |  | 45512561 | 408514 | SH |  | SOLE |  | 0 | 0 | 408514 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 16956029 | 184445 | SH |  | SOLE |  | 0 | 0 | 184445 |
| TEXAS INSTRS INC | COM | 882508104 |  | 13873029 | 79964 | SH |  | SOLE |  | 0 | 0 | 79964 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 2135739 | 7028 | SH |  | SOLE |  | 0 | 0 | 7028 |
| TARGET CORP | COM | 87612E106 |  | 44736645 | 457664 | SH |  | SOLE |  | 0 | 0 | 457664 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 276412 | 3498 | SH |  | SOLE |  | 0 | 0 | 3498 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 24442642 | 28345 | SH |  | SOLE |  | 0 | 0 | 28345 |
| ELI LILLY  CO | COM | 532457108 |  | 21997595 | 20469 | SH |  | SOLE |  | 0 | 0 | 20469 |
| SLB LIMITED | COM STK | 806857108 |  | 3499519 | 91181 | SH |  | SOLE |  | 0 | 0 | 91181 |
| MCKESSON CORP | COM | 58155Q103 |  | 336379 | 410 | SH |  | SOLE |  | 0 | 0 | 410 |
| MERCK  CO INC | COM | 58933Y105 |  | 398865 | 3789 | SH |  | SOLE |  | 0 | 0 | 3789 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 58543334 | 329766 | SH |  | SOLE |  | 0 | 0 | 329766 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 2021287 | 14661 | SH |  | SOLE |  | 0 | 0 | 14661 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 36270199 | 253089 | SH |  | SOLE |  | 0 | 0 | 253089 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 64047660 | 72864 | SH |  | SOLE |  | 0 | 0 | 72864 |
| HSBC HLDGS PLC | SPON ADR NEW | 404280406 |  | 2167988 | 27558 | SH |  | SOLE |  | 0 | 0 | 27558 |
| HOME DEPOT INC | COM | 437076102 |  | 13325451 | 38726 | SH |  | SOLE |  | 0 | 0 | 38726 |
| MCDONALDS CORP | COM | 580135101 |  | 38796685 | 126940 | SH |  | SOLE |  | 0 | 0 | 126940 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 62332303 | 193446 | SH |  | SOLE |  | 0 | 0 | 193446 |
| TJX COS INC NEW | COM | 872540109 |  | 20298793 | 132145 | SH |  | SOLE |  | 0 | 0 | 132145 |
| FLEX LTD | ORD | Y2573F102 |  | 13065825 | 216250 | SH |  | SOLE |  | 0 | 0 | 216250 |
| WILLIAMS COS INC | COM | 969457100 |  | 392158 | 6524 | SH |  | SOLE |  | 0 | 0 | 6524 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 15600536 | 167388 | SH |  | SOLE |  | 0 | 0 | 167388 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 206359 | 2146 | SH |  | SOLE |  | 0 | 0 | 2146 |
| PROGRESSIVE CORP | COM | 743315103 |  | 738268 | 3242 | SH |  | SOLE |  | 0 | 0 | 3242 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 1392314 | 17989 | SH |  | SOLE |  | 0 | 0 | 17989 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 47183796 | 142934 | SH |  | SOLE |  | 0 | 0 | 142934 |
| SAIA INC | COM | 78709Y105 |  | 1654803 | 5068 | SH |  | SOLE |  | 0 | 0 | 5068 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 20802880 | 503336 | SH |  | SOLE |  | 0 | 0 | 503336 |
| WEATHERFORD INTL PLC | ORD SHS | G48833118 |  | 1829328 | 23375 | SH |  | SOLE |  | 0 | 0 | 23375 |
| RTX CORPORATION | COM | 75513E101 |  | 14377015 | 78392 | SH |  | SOLE |  | 0 | 0 | 78392 |
| RYANAIR HOLDINGS PLC | SPONSORED ADR | 783513203 |  | 2213923 | 30668 | SH |  | SOLE |  | 0 | 0 | 30668 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 3276238 | 9772 | SH |  | SOLE |  | 0 | 0 | 9772 |
| SMUCKER J M CO | COM NEW | 832696405 |  | 12538376 | 128191 | SH |  | SOLE |  | 0 | 0 | 128191 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 21330217 | 265698 | SH |  | SOLE |  | 0 | 0 | 265698 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 833403 | 7110 | SH |  | SOLE |  | 0 | 0 | 7110 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 25699162 | 274534 | SH |  | SOLE |  | 0 | 0 | 274534 |
| CSX CORP | COM | 126408103 |  | 261511 | 7214 | SH |  | SOLE |  | 0 | 0 | 7214 |
| APPLE INC | COM | 037833100 |  | 137745942 | 506680 | SH |  | SOLE |  | 0 | 0 | 506680 |
| ALLSTATE CORP | COM | 020002101 |  | 14106665 | 67772 | SH |  | SOLE |  | 0 | 0 | 67772 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 252889 | 3890 | SH |  | SOLE |  | 0 | 0 | 3890 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 28777074 | 168110 | SH |  | SOLE |  | 0 | 0 | 168110 |
| CATERPILLAR INC | COM | 149123101 |  | 1003114 | 1751 | SH |  | SOLE |  | 0 | 0 | 1751 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 13837876 | 503379 | SH |  | SOLE |  | 0 | 0 | 503379 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 2542848 | 57323 | SH |  | SOLE |  | 0 | 0 | 57323 |
| HALLIBURTON CO | COM | 406216101 |  | 381216 | 13490 | SH |  | SOLE |  | 0 | 0 | 13490 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 1231696 | 22746 | SH |  | SOLE |  | 0 | 0 | 22746 |
| ECOLAB INC | COM | 278865100 |  | 26394382 | 100542 | SH |  | SOLE |  | 0 | 0 | 100542 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 576348 | 1558 | SH |  | SOLE |  | 0 | 0 | 1558 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 1238123 | 30110 | SH |  | SOLE |  | 0 | 0 | 30110 |
| SUMITOMO MITSUI FINL GROUP I | SPONSORED ADR | 86562M209 |  | 2103723 | 108832 | SH |  | SOLE |  | 0 | 0 | 108832 |
| EOG RES INC | COM | 26875P101 |  | 13710996 | 130568 | SH |  | SOLE |  | 0 | 0 | 130568 |
| KLA CORP | COM NEW | 482480100 |  | 11961259 | 9844 | SH |  | SOLE |  | 0 | 0 | 9844 |
| SOUTHERN CO | COM | 842587107 |  | 396411 | 4546 | SH |  | SOLE |  | 0 | 0 | 4546 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 297079 | 521 | SH |  | SOLE |  | 0 | 0 | 521 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 754800 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 608183 | 3736 | SH |  | SOLE |  | 0 | 0 | 3736 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 14820885 | 38093 | SH |  | SOLE |  | 0 | 0 | 38093 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 3815041 | 41827 | SH |  | SOLE |  | 0 | 0 | 41827 |
| NETFLIX INC | COM | 64110L106 |  | 30558060 | 325918 | SH |  | SOLE |  | 0 | 0 | 325918 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD AN | 85208R101 |  | 340386 | 7432 | SH |  | SOLE |  | 0 | 0 | 7432 |
| ARROW ELECTRS INC | COM | 042735100 |  | 765090 | 6944 | SH |  | SOLE |  | 0 | 0 | 6944 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 22336832 | 234261 | SH |  | SOLE |  | 0 | 0 | 234261 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 1108098 | 8346 | SH |  | SOLE |  | 0 | 0 | 8346 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 143905967 | 771614 | SH |  | SOLE |  | 0 | 0 | 771614 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 19764229 | 43595 | SH |  | SOLE |  | 0 | 0 | 43595 |
| CMS ENERGY CORP | COM | 125896100 |  | 280433 | 4010 | SH |  | SOLE |  | 0 | 0 | 4010 |
| CHOICEONE FINL SVCS INC | COM | 170386106 |  | 275067 | 9318 | SH |  | SOLE |  | 0 | 0 | 9318 |
| NUCOR CORP | COM | 670346105 |  | 249069 | 1527 | SH |  | SOLE |  | 0 | 0 | 1527 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 237431 | 1416 | SH |  | SOLE |  | 0 | 0 | 1416 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 13710639 | 118902 | SH |  | SOLE |  | 0 | 0 | 118902 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 221883 | 2894 | SH |  | SOLE |  | 0 | 0 | 2894 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 20829961 | 457399 | SH |  | SOLE |  | 0 | 0 | 457399 |
| EATON CORP PLC | SHS | G29183103 |  | 38007480 | 119329 | SH |  | SOLE |  | 0 | 0 | 119329 |
| UNITED RENTALS INC | COM | 911363109 |  | 31903770 | 39420 | SH |  | SOLE |  | 0 | 0 | 39420 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 18081631 | 291780 | SH |  | SOLE |  | 0 | 0 | 291780 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 273720 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| SANOFI SA | SPONSORED ADR | 80105N105 |  | 1687183 | 34816 | SH |  | SOLE |  | 0 | 0 | 34816 |
| TOYOTA MOTOR CORP | ADS | 892331307 |  | 1886297 | 8812 | SH |  | SOLE |  | 0 | 0 | 8812 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 28981488 | 214455 | SH |  | SOLE |  | 0 | 0 | 214455 |
| NORDSON CORP | COM | 655663102 |  | 1703447 | 7085 | SH |  | SOLE |  | 0 | 0 | 7085 |
| CINTAS CORP | COM | 172908105 |  | 20506777 | 109038 | SH |  | SOLE |  | 0 | 0 | 109038 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 17843648 | 57008 | SH |  | SOLE |  | 0 | 0 | 57008 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 605165 | 1527 | SH |  | SOLE |  | 0 | 0 | 1527 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 551872 | 5233 | SH |  | SOLE |  | 0 | 0 | 5233 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 333457 | 1746 | SH |  | SOLE |  | 0 | 0 | 1746 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 691596 | 896 | SH |  | SOLE |  | 0 | 0 | 896 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 20055940 | 35412 | SH |  | SOLE |  | 0 | 0 | 35412 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 360788 | 1856 | SH |  | SOLE |  | 0 | 0 | 1856 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 1790174 | 18110 | SH |  | SOLE |  | 0 | 0 | 18110 |
| NATIONAL GRID PLC | SPONSORED ADR NE | 636274409 |  | 1878290 | 24283 | SH |  | SOLE |  | 0 | 0 | 24283 |
| SHELL PLC | SPON ADS | 780259305 |  | 1939500 | 26395 | SH |  | SOLE |  | 0 | 0 | 26395 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 698207 | 1431 | SH |  | SOLE |  | 0 | 0 | 1431 |
| CRH PLC | ORD | G25508105 |  | 1987440 | 15925 | SH |  | SOLE |  | 0 | 0 | 15925 |
| QUANTA SVCS INC | COM | 74762E102 |  | 24124572 | 57159 | SH |  | SOLE |  | 0 | 0 | 57159 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 528669 | 15618 | SH |  | SOLE |  | 0 | 0 | 15618 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 200299 | 663 | SH |  | SOLE |  | 0 | 0 | 663 |
| EAGLE MATLS INC | COM | 26969P108 |  | 1042494 | 5044 | SH |  | SOLE |  | 0 | 0 | 5044 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 15393146 | 14388 | SH |  | SOLE |  | 0 | 0 | 14388 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 5985800 | 73744 | SH |  | SOLE |  | 0 | 0 | 73744 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 1259443 | 34039 | SH |  | SOLE |  | 0 | 0 | 34039 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1899437 | 3278 | SH |  | SOLE |  | 0 | 0 | 3278 |
| TIDAL TRUST II | ROUNDHILL GENER | 88636J600 |  | 21080488 | 357539 | SH |  | SOLE |  | 0 | 0 | 357539 |
| SALESFORCE INC | COM | 79466L302 |  | 255903 | 966 | SH |  | SOLE |  | 0 | 0 | 966 |
| DEXCOM INC | COM | 252131107 |  | 22035224 | 332006 | SH |  | SOLE |  | 0 | 0 | 332006 |
| SMITH A O CORP | COM | 831865209 |  | 457459 | 6840 | SH |  | SOLE |  | 0 | 0 | 6840 |
| ROYAL BK CDA | COM | 780087102 |  | 2041618 | 11975 | SH |  | SOLE |  | 0 | 0 | 11975 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 338865 | 450 | SH |  | SOLE |  | 0 | 0 | 450 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 417248 | 6477 | SH |  | SOLE |  | 0 | 0 | 6477 |
| RELX PLC | SPONSORED ADR | 759530108 |  | 1514659 | 37473 | SH |  | SOLE |  | 0 | 0 | 37473 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 339103 | 594 | SH |  | SOLE |  | 0 | 0 | 594 |
| CANADIAN IMPERIAL BANK OF CO | COM | 136069101 |  | 2091188 | 23079 | SH |  | SOLE |  | 0 | 0 | 23079 |
| EQUINIX INC | COM | 29444U700 |  | 19780104 | 25817 | SH |  | SOLE |  | 0 | 0 | 25817 |
| PROSHARES TR | PSHS ULTRA QQQ | 74347R206 |  | 234324 | 3328 | SH |  | SOLE |  | 0 | 0 | 3328 |
| VANECK ETF TRUST | HIGH YLD MUNIETF | 92189H409 |  | 527763 | 10324 | SH |  | SOLE |  | 0 | 0 | 10324 |
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 |  | 12618592 | 257838 | SH |  | SOLE |  | 0 | 0 | 257838 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 390252 | 23666 | SH |  | SOLE |  | 0 | 0 | 23666 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 |  | 22488149 | 172694 | SH |  | SOLE |  | 0 | 0 | 172694 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 313886 | 2111 | SH |  | SOLE |  | 0 | 0 | 2111 |
| COCA-COLA FEMSA SAB DE CV | SPONS ADS REP | 191241108 |  | 1905565 | 20120 | SH |  | SOLE |  | 0 | 0 | 20120 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 27527224 | 44209 | SH |  | SOLE |  | 0 | 0 | 44209 |
| M/I HOMES INC | COM | 55305B101 |  | 14685205 | 114773 | SH |  | SOLE |  | 0 | 0 | 114773 |
| PRUDENTIAL PLC | ADR | 74435K204 |  | 2300204 | 73914 | SH |  | SOLE |  | 0 | 0 | 73914 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 |  | 711073 | 6911 | SH |  | SOLE |  | 0 | 0 | 6911 |
| SIERRA BANCORP | COM | 82620P102 |  | 214381 | 6560 | SH |  | SOLE |  | 0 | 0 | 6560 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 256658 | 3489 | SH |  | SOLE |  | 0 | 0 | 3489 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 13146241 | 248605 | SH |  | SOLE |  | 0 | 0 | 248605 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A847 |  | 6328924 | 109289 | SH |  | SOLE |  | 0 | 0 | 109289 |
| ISHARES TR | ESG MSCI KLD 400 | 464288570 |  | 5636399 | 43751 | SH |  | SOLE |  | 0 | 0 | 43751 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 2010733 | 8838 | SH |  | SOLE |  | 0 | 0 | 8838 |
| ISHARES TR | INTL SEL DIV ETF | 464288448 |  | 258082 | 6542 | SH |  | SOLE |  | 0 | 0 | 6542 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 224557 | 1565 | SH |  | SOLE |  | 0 | 0 | 1565 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 331724 | 5310 | SH |  | SOLE |  | 0 | 0 | 5310 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 29850138 | 278687 | SH |  | SOLE |  | 0 | 0 | 278687 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R721 |  | 2169442 | 47461 | SH |  | SOLE |  | 0 | 0 | 47461 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 1353051 | 6511 | SH |  | SOLE |  | 0 | 0 | 6511 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 |  | 39183153 | 428794 | SH |  | SOLE |  | 0 | 0 | 428794 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 38883434 | 721667 | SH |  | SOLE |  | 0 | 0 | 721667 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 353097 | 855 | SH |  | SOLE |  | 0 | 0 | 855 |
| VISA INC | COM CL A | 92826C839 |  | 43777274 | 124825 | SH |  | SOLE |  | 0 | 0 | 124825 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 343256 | 2140 | SH |  | SOLE |  | 0 | 0 | 2140 |
| VANECK ETF TRUST | VANECK SHRT MUNI | 92189F528 |  | 2307556 | 132542 | SH |  | SOLE |  | 0 | 0 | 132542 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A672 |  | 36766957 | 1274860 | SH |  | SOLE |  | 0 | 0 | 1274860 |
| VANECK ETF TRUST | INTRMDT MUNI ETF | 92189H201 |  | 965318 | 20469 | SH |  | SOLE |  | 0 | 0 | 20469 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A664 |  | 19907326 | 752071 | SH |  | SOLE |  | 0 | 0 | 752071 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 324046271 | 4039470 | SH |  | SOLE |  | 0 | 0 | 4039470 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 97077334 | 2185934 | SH |  | SOLE |  | 0 | 0 | 2185934 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A649 |  | 96402052 | 3743769 | SH |  | SOLE |  | 0 | 0 | 3743769 |
| INVESCO ACTIVELY MANAGED EXC | ULTRA SHRT DUR | 46090A887 |  | 70833181 | 1409616 | SH |  | SOLE |  | 0 | 0 | 1409616 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 2302063 | 3805 | SH |  | SOLE |  | 0 | 0 | 3805 |
| INSULET CORP | COM | 45784P101 |  | 19658323 | 69161 | SH |  | SOLE |  | 0 | 0 | 69161 |
| FIRST CTZNS BANCSHARES INC D | CL A | 31946M103 |  | 693216 | 323 | SH |  | SOLE |  | 0 | 0 | 323 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 923915 | 8659 | SH |  | SOLE |  | 0 | 0 | 8659 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A375 |  | 562767 | 16645 | SH |  | SOLE |  | 0 | 0 | 16645 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 25531596 | 145595 | SH |  | SOLE |  | 0 | 0 | 145595 |
| BROADCOM INC | COM | 11135F101 |  | 65375161 | 188891 | SH |  | SOLE |  | 0 | 0 | 188891 |
| ABRDN SILVER ETF TRUST | PHYSCL SILVR SHS | 003264108 |  | 31251709 | 462030 | SH |  | SOLE |  | 0 | 0 | 462030 |
| ISHARES TR | RUS TP200 GR ETF | 464289438 |  | 1651116 | 5962 | SH |  | SOLE |  | 0 | 0 | 5962 |
| FORTINET INC | COM | 34959E109 |  | 1717718 | 21631 | SH |  | SOLE |  | 0 | 0 | 21631 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 8364561 | 310835 | SH |  | SOLE |  | 0 | 0 | 310835 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 363082 | 11131 | SH |  | SOLE |  | 0 | 0 | 11131 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 715659 | 13655 | SH |  | SOLE |  | 0 | 0 | 13655 |
| ABRDN PALLADIUM ETF TRUST | PHYSICAL PALLADM | 003262102 |  | 13928567 | 95808 | SH |  | SOLE |  | 0 | 0 | 95808 |
| PIMCO ETF TR | SHTRM MUN BD ACT | 72201R874 |  | 436220 | 8650 | SH |  | SOLE |  | 0 | 0 | 8650 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 12503862 | 288773 | SH |  | SOLE |  | 0 | 0 | 288773 |
| TOTALENERGIES SE | ACT | F92124100 |  | 1875306 | 28666 | SH |  | SOLE |  | 0 | 0 | 28666 |
| TESLA INC | COM | 88160R101 |  | 3896374 | 8664 | SH |  | SOLE |  | 0 | 0 | 8664 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1813732 | 2892 | SH |  | SOLE |  | 0 | 0 | 2892 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL SILVER | 85207K107 |  | 4317142 | 182543 | SH |  | SOLE |  | 0 | 0 | 182543 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 2000664 | 5601 | SH |  | SOLE |  | 0 | 0 | 5601 |
| INVESCO EXCH TRADED FD TR II | KBW HIG DV YLD | 46138E610 |  | 7504429 | 549196 | SH |  | SOLE |  | 0 | 0 | 549196 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 871325 | 11550 | SH |  | SOLE |  | 0 | 0 | 11550 |
| HUNTINGTON INGALLS INDS INC | COM | 446413106 |  | 15237267 | 44806 | SH |  | SOLE |  | 0 | 0 | 44806 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 278973 | 2294 | SH |  | SOLE |  | 0 | 0 | 2294 |
| MARATHON PETE CORP | COM | 56585A102 |  | 478620 | 2943 | SH |  | SOLE |  | 0 | 0 | 2943 |
| VANECK ETF TRUST | MORTGAGE REIT | 92189F452 |  | 7428280 | 706782 | SH |  | SOLE |  | 0 | 0 | 706782 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 1445074 | 52682 | SH |  | SOLE |  | 0 | 0 | 52682 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R101 |  | 17047560 | 582225 | SH |  | SOLE |  | 0 | 0 | 582225 |
| META PLATFORMS INC | CL A | 30303M102 |  | 95071006 | 144027 | SH |  | SOLE |  | 0 | 0 | 144027 |
| GLOBAL X FDS | GLBL X MLP ETF | 37954Y343 |  | 22177950 | 458127 | SH |  | SOLE |  | 0 | 0 | 458127 |
| SERVICENOW INC | COM | 81762P102 |  | 23791171 | 155305 | SH |  | SOLE |  | 0 | 0 | 155305 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 31853327 | 172928 | SH |  | SOLE |  | 0 | 0 | 172928 |
| FIVE BELOW INC | COM | 33829M101 |  | 2756272 | 14633 | SH |  | SOLE |  | 0 | 0 | 14633 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 426486 | 2837 | SH |  | SOLE |  | 0 | 0 | 2837 |
| ABBVIE INC | COM | 00287Y109 |  | 16257196 | 71151 | SH |  | SOLE |  | 0 | 0 | 71151 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 |  | 7641419 | 419397 | SH |  | SOLE |  | 0 | 0 | 419397 |
| SSGA ACTIVE ETF TR | STATE STREET BLA | 78467V608 |  | 243994 | 5912 | SH |  | SOLE |  | 0 | 0 | 5912 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 279307 | 6178 | SH |  | SOLE |  | 0 | 0 | 6178 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 387828 | 1953 | SH |  | SOLE |  | 0 | 0 | 1953 |
| SSGA ACTIVE ETF TR | STATE STREET ULT | 78467V707 |  | 322096 | 7952 | SH |  | SOLE |  | 0 | 0 | 7952 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 392465 | 11389 | SH |  | SOLE |  | 0 | 0 | 11389 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 124901676 | 398030 | SH |  | SOLE |  | 0 | 0 | 398030 |
| PROSHARES TR | DJ BRKFLD GLB | 74347B508 |  | 17650876 | 325963 | SH |  | SOLE |  | 0 | 0 | 325963 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 1536282 | 53529 | SH |  | SOLE |  | 0 | 0 | 53529 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 1760469 | 19217 | SH |  | SOLE |  | 0 | 0 | 19217 |
| FIRST TR EXCHANGE-TRADED FD | FIRST TR ENH NEW | 33739Q408 |  | 37644372 | 628139 | SH |  | SOLE |  | 0 | 0 | 628139 |
| ARK ETF TR | NEXT GNRTN INTER | 00214Q401 |  | 28115468 | 190317 | SH |  | SOLE |  | 0 | 0 | 190317 |
| UBS GROUP AG | SHS | H42097107 |  | 2122248 | 45827 | SH |  | SOLE |  | 0 | 0 | 45827 |
| ISHARES TR | LOW CARBON OPTIM | 46434V464 |  | 1830795 | 7942 | SH |  | SOLE |  | 0 | 0 | 7942 |
| KRAFT HEINZ CO | COM | 500754106 |  | 13140812 | 541889 | SH |  | SOLE |  | 0 | 0 | 541889 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 21566152 | 369410 | SH |  | SOLE |  | 0 | 0 | 369410 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R747 |  | 885815 | 6707 | SH |  | SOLE |  | 0 | 0 | 6707 |
| GLOBAL X FDS | S 500 CATHOLIC | 37954Y889 |  | 1312091 | 15957 | SH |  | SOLE |  | 0 | 0 | 15957 |
| COCA-COLA EUROPACIFIC PARTNE | SHS | G25839104 |  | 1806109 | 19913 | SH |  | SOLE |  | 0 | 0 | 19913 |
| INVITATION HOMES INC | COM | 46187W107 |  | 1471318 | 52944 | SH |  | SOLE |  | 0 | 0 | 52944 |
| SNAP INC | CL A | 83304A106 |  | 1363572 | 168968 | SH |  | SOLE |  | 0 | 0 | 168968 |
| ISHARES TR | ESG AWRE USD ETF | 46435G193 |  | 638937 | 27323 | SH |  | SOLE |  | 0 | 0 | 27323 |
| AMPLIFY ETF TR | BLOCKCHAIN TECHN | 032108607 |  | 27851485 | 489567 | SH |  | SOLE |  | 0 | 0 | 489567 |
| ISHARES U S ETF TR | U.S. TECH INDEPD | 46431W648 |  | 68444697 | 673735 | SH |  | SOLE |  | 0 | 0 | 673735 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 3407489 | 74108 | SH |  | SOLE |  | 0 | 0 | 74108 |
| EVERGY INC | COM | 30034W106 |  | 264806 | 3653 | SH |  | SOLE |  | 0 | 0 | 3653 |
| GOLDMAN SACHS ETF TR | JUST US LRG CP | 381430396 |  | 2445357 | 25289 | SH |  | SOLE |  | 0 | 0 | 25289 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 94044756 | 1101614 | SH |  | SOLE |  | 0 | 0 | 1101614 |
| INNOVATOR ETFS TRUST | INNOVATOR DEEPW | 45782C862 |  | 21334971 | 279217 | SH |  | SOLE |  | 0 | 0 | 279217 |
| ETF SER SOLUTIONS | DEFIANCE QUANTUM | 26922A420 |  | 20726727 | 189009 | SH |  | SOLE |  | 0 | 0 | 189009 |
| JANUS DETROIT STR TR | HENDERSON MTG | 47103U852 |  | 101761039 | 2227206 | SH |  | SOLE |  | 0 | 0 | 2227206 |
| INVESCO EXCH TRD SLF IDX FD | INVSCO BLSH 26 | 46138J635 |  | 578192 | 24773 | SH |  | SOLE |  | 0 | 0 | 24773 |
| LINDE PLC | SHS | G54950103 |  | 1632647 | 3829 | SH |  | SOLE |  | 0 | 0 | 3829 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 10644771 | 208967 | SH |  | SOLE |  | 0 | 0 | 208967 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 1922529 | 40178 | SH |  | SOLE |  | 0 | 0 | 40178 |
| PIMCO ETF TR | PREFERRED AND CP | 72201R619 |  | 55452373 | 1076536 | SH |  | SOLE |  | 0 | 0 | 1076536 |
| J P MORGAN EXCHANGE TRADED F | BETABUILDRS US | 46641Q399 |  | 11854530 | 96136 | SH |  | SOLE |  | 0 | 0 | 96136 |
| INNOVATOR ETFS TRUST | US EQT BUFR APR | 45782C888 |  | 235198 | 4902 | SH |  | SOLE |  | 0 | 0 | 4902 |
| MAYVILLE ENGR CO INC | COM | 578605107 |  | 391323 | 20904 | SH |  | SOLE |  | 0 | 0 | 20904 |
| AMCOR PLC | ORD | G0250X107 |  | 1641104 | 196775 | SH |  | SOLE |  | 0 | 0 | 196775 |
| DYNATRACE INC | COM NEW | 268150109 |  | 1433774 | 33082 | SH |  | SOLE |  | 0 | 0 | 33082 |
| AMERICAN CENTY ETF TR | US EQT ETF | 025072885 |  | 33401239 | 298812 | SH |  | SOLE |  | 0 | 0 | 298812 |
| AMERICAN CENTY ETF TR | INTL EQT ETF | 025072703 |  | 112124013 | 1362051 | SH |  | SOLE |  | 0 | 0 | 1362051 |
| AMERICAN CENTY ETF TR | AVANTIS EMGMKT | 025072604 |  | 85135485 | 1105369 | SH |  | SOLE |  | 0 | 0 | 1105369 |
| INVESCO EXCH TRD SLF IDX FD | BULETSHS 2027 | 46138J585 |  | 631333 | 27917 | SH |  | SOLE |  | 0 | 0 | 27917 |
| COLUMBIA ETF TR I | RESH ENHNC COR | 19761L706 |  | 89929063 | 2201985 | SH |  | SOLE |  | 0 | 0 | 2201985 |
| ISHARES TR | IBONDS 26 TRM TS | 46436E858 |  | 3912117 | 171021 | SH |  | SOLE |  | 0 | 0 | 171021 |
| ISHARES TR | IBONDS 27 TRM TS | 46436E841 |  | 3788071 | 168583 | SH |  | SOLE |  | 0 | 0 | 168583 |
| ISHARES TR | IBONDS 28 TRM TS | 46436E833 |  | 889598 | 39776 | SH |  | SOLE |  | 0 | 0 | 39776 |
| INNOVATOR ETFS TRUST | EMRGNG MKT APRIL | 45782C359 |  | 12606284 | 424454 | SH |  | SOLE |  | 0 | 0 | 424454 |
| AIM ETF PRODUCTS TRUST | US LRGCP B10 JUL | 00888H307 |  | 26145269 | 582601 | SH |  | SOLE |  | 0 | 0 | 582601 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R531 |  | 3770002 | 56992 | SH |  | SOLE |  | 0 | 0 | 56992 |
| J P MORGAN EXCHANGE TRADED F | BETABUILDERS US | 46641Q340 |  | 990926 | 9294 | SH |  | SOLE |  | 0 | 0 | 9294 |
| GLOBAL X FDS | S EX US ETF | 37954Y368 |  | 253433 | 6862 | SH |  | SOLE |  | 0 | 0 | 6862 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 514231 | 2893 | SH |  | SOLE |  | 0 | 0 | 2893 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 66783937 | 264052 | SH |  | SOLE |  | 0 | 0 | 264052 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 63580204 | 1257023 | SH |  | SOLE |  | 0 | 0 | 1257023 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 1931106 | 17498 | SH |  | SOLE |  | 0 | 0 | 17498 |
| ARK ETF TR | SPACE  DEFENSE | 00214Q807 |  | 294785 | 10172 | SH |  | SOLE |  | 0 | 0 | 10172 |
| INNOVATOR ETFS TRUST | US EQUITY ACCELE | 45783Y301 |  | 233757 | 6045 | SH |  | SOLE |  | 0 | 0 | 6045 |
| DIMENSIONAL ETF TRUST | US EQUITY MARKET | 25434V401 |  | 6471703 | 87255 | SH |  | SOLE |  | 0 | 0 | 87255 |
| INNOVATOR ETFS TRUST | US EQT ACLRTD 9 | 45783Y889 |  | 41200882 | 1076998 | SH |  | SOLE |  | 0 | 0 | 1076998 |
| FIRST TR EXCHNG TRADED FD VI | SKYBRIDGE CRYPTO | 33740F540 |  | 28945690 | 1928427 | SH |  | SOLE |  | 0 | 0 | 1928427 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 205603 | 582 | SH |  | SOLE |  | 0 | 0 | 582 |
| DIMENSIONAL ETF TRUST | US MKTWIDE VALUE | 25434V724 |  | 439204 | 9427 | SH |  | SOLE |  | 0 | 0 | 9427 |
| PIMCO ETF TR | SR LN ACTIVE ETF | 72201R627 |  | 7537177 | 149904 | SH |  | SOLE |  | 0 | 0 | 149904 |
| VANECK ETF TRUST | CLO ETF | 92189H748 |  | 14120975 | 267392 | SH |  | SOLE |  | 0 | 0 | 267392 |
| NEOS ETF TRUST | NEOS ENH INC 1-3 | 78433H501 |  | 23945886 | 481518 | SH |  | SOLE |  | 0 | 0 | 481518 |
| VANECK ETF TRUST | MORNINGSTAR SMID | 92189H730 |  | 29791163 | 822960 | SH |  | SOLE |  | 0 | 0 | 822960 |
| NEOS ETF TRUST | NEOS S 500 HI | 78433H303 |  | 93779098 | 1785248 | SH |  | SOLE |  | 0 | 0 | 1785248 |
| BONDBLOXX ETF TRUST | BLOOMBERG FVE YR | 09789C838 |  | 62452224 | 1262202 | SH |  | SOLE |  | 0 | 0 | 1262202 |
| BONDBLOXX ETF TRUST | BLOOMBERG SEVEN | 09789C820 |  | 43224610 | 899690 | SH |  | SOLE |  | 0 | 0 | 899690 |
| BONDBLOXX ETF TRUST | BLOOMBERG TEN YR | 09789C812 |  | 34148945 | 738835 | SH |  | SOLE |  | 0 | 0 | 738835 |
| BONDBLOXX ETF TRUST | BLOOMBERG THREE | 09789C846 |  | 38383427 | 771343 | SH |  | SOLE |  | 0 | 0 | 771343 |
| ANGEL OAK FUNDS TRUST | OAK ULTRASHORT | 03463K752 |  | 70526364 | 1378955 | SH |  | SOLE |  | 0 | 0 | 1378955 |
| INNOVATOR ETFS TRUST | GRADIENT TACTIC | 45783Y665 |  | 48103214 | 1714366 | SH |  | SOLE |  | 0 | 0 | 1714366 |
| AIM ETF PRODUCTS TRUST | US LRGCP B10 FEB | 00888H828 |  | 51541451 | 1352794 | SH |  | SOLE |  | 0 | 0 | 1352794 |
| SERIES PORTFOLIOS TR | ELDRIDGE BBB B | 81752T528 |  | 7562098 | 285578 | SH |  | SOLE |  | 0 | 0 | 285578 |
| DOUBLELINE ETF TRUST | MORTGAGE ETF | 25861R402 |  | 131756295 | 2653434 | SH |  | SOLE |  | 0 | 0 | 2653434 |
| DOUBLELINE ETF TRUST | COMMERCIAL REAL | 25861R303 |  | 16739127 | 322527 | SH |  | SOLE |  | 0 | 0 | 322527 |
| EA SERIES TRUST | ALPHA ARCH 1-3 | 02072L565 |  | 7975855 | 69295 | SH |  | SOLE |  | 0 | 0 | 69295 |
| INNOVATOR ETFS TRUST | EQUITY DEF PROTN | 45783Y541 |  | 28558611 | 965144 | SH |  | SOLE |  | 0 | 0 | 965144 |
| INNOVATOR ETFS TRUST | INNOVATOR INTER | 45783Y533 |  | 25049143 | 768513 | SH |  | SOLE |  | 0 | 0 | 768513 |
| J P MORGAN EXCHANGE TRADED F | HEDGED EQUITY LA | 46654Q724 |  | 15534220 | 233843 | SH |  | SOLE |  | 0 | 0 | 233843 |
| INVESCO GALAXY BITCOIN ETF | COM SHS BEN INT | 46091J101 |  | 36190195 | 415168 | SH |  | SOLE |  | 0 | 0 | 415168 |
| VANECK BITCOIN ETF | SH BEN INT | 92189K105 |  | 13736229 | 555448 | SH |  | SOLE |  | 0 | 0 | 555448 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 2127900 | 42858 | SH |  | SOLE |  | 0 | 0 | 42858 |
| BONDBLOXX ETF TRUST | BBB RATED 1 5 YE | 09789C754 |  | 47989884 | 932204 | SH |  | SOLE |  | 0 | 0 | 932204 |
| ANGEL OAK FUNDS TRUST | MORTGAGE BACKED | 03463K737 |  | 97081 | 11101 | SH |  | SOLE |  | 0 | 0 | 11101 |
| BONDBLOXX ETF TRUST | IR M TAXAWARE | 09789C721 |  | 595909 | 11749 | SH |  | SOLE |  | 0 | 0 | 11749 |
| AMPLIFY ETF TR | COWS COVERED CAL | 032108680 |  | 7824062 | 323379 | SH |  | SOLE |  | 0 | 0 | 323379 |
| NEOS ETF TRUST | RUSSELL 2000 HIG | 78433H634 |  | 7952013 | 163353 | SH |  | SOLE |  | 0 | 0 | 163353 |
| INNOVATOR ETFS TRUST | US SMALL CAP PWR | 45783Y137 |  | 12679748 | 477940 | SH |  | SOLE |  | 0 | 0 | 477940 |
| INNOVATOR ETFS TRUST | GROWTH 100 PWR B | 45783Y129 |  | 35654915 | 1205780 | SH |  | SOLE |  | 0 | 0 | 1205780 |
| AIM ETF PRODUCTS TRUST | ALLIANZIM US EQU | 00888H554 |  | 93574706 | 3232834 | SH |  | SOLE |  | 0 | 0 | 3232834 |
| SSGA ACTIVE TR | STATE STREET MY | 78470P796 |  | 728629 | 29046 | SH |  | SOLE |  | 0 | 0 | 29046 |
| SSGA ACTIVE TR | STATE STREET MY | 78470P820 |  | 3017022 | 120496 | SH |  | SOLE |  | 0 | 0 | 120496 |
| SSGA ACTIVE TR | STATE STREET MY | 78470P812 |  | 3018269 | 120534 | SH |  | SOLE |  | 0 | 0 | 120534 |
| BONDBLOXX ETF TRUST | BONDBLOXX PRIVAT | 09789C671 |  | 33312877 | 664662 | SH |  | SOLE |  | 0 | 0 | 664662 |
| NEOS ETF TRUST | REAL ESTATE HIGH | 78433H618 |  | 7456212 | 153420 | SH |  | SOLE |  | 0 | 0 | 153420 |
| SSGA ACTIVE TR | SPDR SSGA IG PUB | 78470P622 |  | 19591128 | 770852 | SH |  | SOLE |  | 0 | 0 | 770852 |
| DOUBLELINE ETF TRUST | ASSET BACKED SEC | 25861R808 |  | 55925294 | 1098513 | SH |  | SOLE |  | 0 | 0 | 1098513 |
| COHEN  STEERS ETF TRUST | NATURAL RES ACTI | 19249U302 |  | 19224757 | 622709 | SH |  | SOLE |  | 0 | 0 | 622709 |
| CALAMOS ETF TR | AUTOCALLABLE INC | 12811T571 |  | 10854755 | 405937 | SH |  | SOLE |  | 0 | 0 | 405937 |
| JAMES HARDIE INDS PLC | ORD SHS | G4253H101 |  | 1177272 | 56736 | SH |  | SOLE |  | 0 | 0 | 56736 |
| INNOVATOR ETFS TRUST | EQUITY DUAL DIRT | 45784N510 |  | 38061167 | 1818559 | SH |  | SOLE |  | 0 | 0 | 1818559 |

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