# EDGAR Filing Document

**Accession Number:** 0001975550
**File Stem:** 0001975550-26-000001
**Filing Date:** 2026-2
**Character Count:** 20827
**Document Hash:** 6514e44f26d07dec6e297cbcc6bd2354
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001975550-26-000001.hdr.sgml**: 20260203

**ACCESSION NUMBER**: 0001975550-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260203

**DATE AS OF CHANGE**: 20260203

**EFFECTIVENESS DATE**: 20260203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHANNEL WEALTH LLC
- **CENTRAL INDEX KEY:** 0001975550

**ORGANIZATION NAME:**
- **EIN:** 842475389
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23193
- **FILM NUMBER:** 26592244

**BUSINESS ADDRESS:**
- **STREET 1:** 3760 STATE STREET #201
- **CITY:** SANTA BARBARA
- **STATE:** CA
- **ZIP:** 93105
- **BUSINESS PHONE:** 805-898-0893

**MAIL ADDRESS:**
- **STREET 1:** 3760 STATE STREET #201
- **CITY:** SANTA BARBARA
- **STATE:** CA
- **ZIP:** 93105

### 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:** CHANNEL WEALTH LLC<br>**Address:** 3760 STATE STREET #201<br>SANTA BARBARA, CA 93105

**Form 13F File Number:** 028-23193

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:** William H. Speacht<br>**Title:** Chief Compliance Officer<br>**Phone:** 4848403707

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

William H. Speacht  CHADDS FORD, PA  02-03-2026<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:** 172

**Form 13F Information Table Value Total:** $395009420

      (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 |  | 720200 | 3152 | SH |  | SOLE | 0 | 0 | 0 | 3152 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 236218 | 1103 | SH |  | SOLE | 0 | 0 | 0 | 1103 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3496997 | 11173 | SH |  | SOLE | 0 | 0 | 0 | 11173 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 13860693 | 44170 | SH |  | SOLE | 0 | 0 | 0 | 44170 |
| AMAZON COM INC | COM | 023135106 |  | 3367202 | 14588 | SH |  | SOLE | 0 | 0 | 0 | 14588 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 358823 | 3112 | SH |  | SOLE | 0 | 0 | 0 | 3112 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 971489 | 2626 | SH |  | SOLE | 0 | 0 | 0 | 2626 |
| AMERICAN PUB ED INC | COM | 02913V103 |  | 440294 | 11648 | SH |  | SOLE | 0 | 0 | 0 | 11648 |
| AMGEN INC | COM | 031162100 |  | 695673 | 2125 | SH |  | SOLE | 0 | 0 | 0 | 2125 |
| ANGEL OAK FUNDS TRUST | INCOME ETF | 03463K760 |  | 24009594 | 1152894 | SH |  | SOLE | 0 | 0 | 0 | 1152894 |
| APPFOLIO INC | COM CL A | 03783C100 |  | 3835933 | 16488 | SH |  | SOLE | 0 | 0 | 0 | 16488 |
| APPLE INC | COM | 037833100 |  | 17308184 | 63666 | SH |  | SOLE | 0 | 0 | 0 | 63666 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 5554713 | 5192 | SH |  | SOLE | 0 | 0 | 0 | 5192 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 4408319 | 47953 | SH |  | SOLE | 0 | 0 | 0 | 47953 |
| AT INC | COM | 00206R102 |  | 294869 | 11871 | SH |  | SOLE | 0 | 0 | 0 | 11871 |
| ATOMERA INC | COM | 04965B100 |  | 103539 | 46850 | SH |  | SOLE | 0 | 0 | 0 | 46850 |
| AVANTOR INC | COM | 05352A100 |  | 292345 | 25510 | SH |  | SOLE | 0 | 0 | 0 | 25510 |
| BANK AMERICA CORP | COM | 060505104 |  | 525497 | 9554 | SH |  | SOLE | 0 | 0 | 0 | 9554 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 9448815 | 18798 | SH |  | SOLE | 0 | 0 | 0 | 18798 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 6038400 | 8 | SH |  | SOLE | 0 | 0 | 0 | 8 |
| BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 |  | 866376 | 81734 | SH |  | SOLE | 0 | 0 | 0 | 81734 |
| BLACKSTONE INC | COM | 09260D107 |  | 389974 | 2530 | SH |  | SOLE | 0 | 0 | 0 | 2530 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 455485 | 36644 | SH |  | SOLE | 0 | 0 | 0 | 36644 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 3301208 | 34622 | SH |  | SOLE | 0 | 0 | 0 | 34622 |
| BROADCOM INC | COM | 11135F101 |  | 3696694 | 10681 | SH |  | SOLE | 0 | 0 | 0 | 10681 |
| CALAMOS ETF TR | AUTOCALLABLE INC | 12811T571 |  | 1940154 | 72556 | SH |  | SOLE | 0 | 0 | 0 | 72556 |
| CALAMOS ETF TR | NASDAQ AUTOCALLL | 12811T530 |  | 256200 | 9998 | SH |  | SOLE | 0 | 0 | 0 | 9998 |
| CATERPILLAR INC | COM | 149123101 |  | 689163 | 1203 | SH |  | SOLE | 0 | 0 | 0 | 1203 |
| CENCORA INC | COM | 03073E105 |  | 588361 | 1742 | SH |  | SOLE | 0 | 0 | 0 | 1742 |
| CHEVRON CORP NEW | COM | 166764100 |  | 693289 | 4549 | SH |  | SOLE | 0 | 0 | 0 | 4549 |
| CISCO SYS INC | COM | 17275R102 |  | 416347 | 5405 | SH |  | SOLE | 0 | 0 | 0 | 5405 |
| COCA COLA CO | COM | 191216100 |  | 500596 | 7161 | SH |  | SOLE | 0 | 0 | 0 | 7161 |
| COHEN  STEERS INFRASTRUCTUR | COM | 19248A109 |  | 274420 | 11382 | SH |  | SOLE | 0 | 0 | 0 | 11382 |
| COHEN  STEERS QUALITY INCOM | COM | 19247L106 |  | 129765 | 11363 | SH |  | SOLE | 0 | 0 | 0 | 11363 |
| COMMUNITY WEST BANCSHARES NE | COM | 203937107 |  | 226260 | 10056 | SH |  | SOLE | 0 | 0 | 0 | 10056 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2931969 | 3400 | SH |  | SOLE | 0 | 0 | 0 | 3400 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 407465 | 2634 | SH |  | SOLE | 0 | 0 | 0 | 2634 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 316400 | 2699 | SH |  | SOLE | 0 | 0 | 0 | 2699 |
| ELI LILLY  CO | COM | 532457108 |  | 9965834 | 9273 | SH |  | SOLE | 0 | 0 | 0 | 9273 |
| EMERSON ELEC CO | COM | 291011104 |  | 422315 | 3182 | SH |  | SOLE | 0 | 0 | 0 | 3182 |
| ENOVIX CORPORATION | COM | 293594107 |  | 1431313 | 195802 | SH |  | SOLE | 0 | 0 | 0 | 195802 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 374589 | 11684 | SH |  | SOLE | 0 | 0 | 0 | 11684 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1106722 | 9197 | SH |  | SOLE | 0 | 0 | 0 | 9197 |
| FASTENAL CO | COM | 311900104 |  | 237570 | 5920 | SH |  | SOLE | 0 | 0 | 0 | 5920 |
| FIRST SOLAR INC | COM | 336433107 |  | 386359 | 1479 | SH |  | SOLE | 0 | 0 | 0 | 1479 |
| FIRST TR EXCH TRADED FD III | CALIF MUN INCM | 33739P863 |  | 1701539 | 34509 | SH |  | SOLE | 0 | 0 | 0 | 34509 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ BUYWRITE | 33738R407 |  | 332517 | 15971 | SH |  | SOLE | 0 | 0 | 0 | 15971 |
| FIRST TR EXCHANGE TRADED FD | BUYWRIT INCM ETF | 33738R308 |  | 366496 | 15516 | SH |  | SOLE | 0 | 0 | 0 | 15516 |
| FS CREDIT OPPORTUNITIES CORP | COMMON STOCK | 30290Y101 |  | 268796 | 42666 | SH |  | SOLE | 0 | 0 | 0 | 42666 |
| GE AEROSPACE | COM NEW | 369604301 |  | 818221 | 2656 | SH |  | SOLE | 0 | 0 | 0 | 2656 |
| GE VERNOVA INC | COM | 36828A101 |  | 645727 | 988 | SH |  | SOLE | 0 | 0 | 0 | 988 |
| GENIUS SPORTS LIMITED | SHARES CL A | G3934V109 |  | 2875669 | 260950 | SH |  | SOLE | 0 | 0 | 0 | 260950 |
| GLOBAL X FDS | NASDAQ 100 COVER | 37954Y483 |  | 540861 | 30609 | SH |  | SOLE | 0 | 0 | 0 | 30609 |
| GLOBAL X FDS | ADAPTIVE US | 37954Y574 |  | 7969519 | 171868 | SH |  | SOLE | 0 | 0 | 0 | 171868 |
| GOLDMAN SACHS ETF TR | ACCESS INVT GR | 381430479 |  | 6743019 | 145795 | SH |  | SOLE | 0 | 0 | 0 | 145795 |
| GOLDMAN SACHS ETF TR | ULTRA SHORT BOND | 381430230 |  | 1468425 | 29095 | SH |  | SOLE | 0 | 0 | 0 | 29095 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA INT | 381430107 |  | 6321326 | 147213 | SH |  | SOLE | 0 | 0 | 0 | 147213 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 458838 | 522 | SH |  | SOLE | 0 | 0 | 0 | 522 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 447621 | 6548 | SH |  | SOLE | 0 | 0 | 0 | 6548 |
| HARBOR ETF TRUST | HARBOR COMMODITY | 41151J505 |  | 3947075 | 159028 | SH |  | SOLE | 0 | 0 | 0 | 159028 |
| HIGHLAND OPPS  INCOME FD | HIGHLAND INCOME | 43010E404 |  | 85012 | 14216 | SH |  | SOLE | 0 | 0 | 0 | 14216 |
| HOME DEPOT INC | COM | 437076102 |  | 3046400 | 8853 | SH |  | SOLE | 0 | 0 | 0 | 8853 |
| HONEYWELL INTL INC | COM | 438516106 |  | 354088 | 1815 | SH |  | SOLE | 0 | 0 | 0 | 1815 |
| INNOVATOR ETFS TRUST | LADERD ALCTN PWR | 45783Y814 |  | 299160 | 6000 | SH |  | SOLE | 0 | 0 | 0 | 6000 |
| INTEL CORP | COM | 458140100 |  | 250024 | 6776 | SH |  | SOLE | 0 | 0 | 0 | 6776 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 389220 | 1314 | SH |  | SOLE | 0 | 0 | 0 | 1314 |
| INTUIT | COM | 461202103 |  | 380229 | 574 | SH |  | SOLE | 0 | 0 | 0 | 574 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1351901 | 2387 | SH |  | SOLE | 0 | 0 | 0 | 2387 |
| INVESCO ACTIVELY MANAGED EXC | TOTAL RETURN | 46090A804 |  | 5181915 | 109277 | SH |  | SOLE | 0 | 0 | 0 | 109277 |
| INVESCO EXCH TRD SLF IDX FD | RUSL 1000 DYNM | 46138J619 |  | 703912 | 11515 | SH |  | SOLE | 0 | 0 | 0 | 11515 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 214251 | 1118 | SH |  | SOLE | 0 | 0 | 0 | 1118 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 6154917 | 10019 | SH |  | SOLE | 0 | 0 | 0 | 10019 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 213147 | 4293 | SH |  | SOLE | 0 | 0 | 0 | 4293 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 9746822 | 68887 | SH |  | SOLE | 0 | 0 | 0 | 68887 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 226237 | 478 | SH |  | SOLE | 0 | 0 | 0 | 478 |
| ISHARES TR | CORE S ETF | 464287200 |  | 391101 | 571 | SH |  | SOLE | 0 | 0 | 0 | 571 |
| ISHARES TR | EAFE GRWTH ETF | 464288885 |  | 246295 | 2162 | SH |  | SOLE | 0 | 0 | 0 | 2162 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 446491 | 10415 | SH |  | SOLE | 0 | 0 | 0 | 10415 |
| ISHARES TR | EXPND TEC SC ETF | 464287549 |  | 441340 | 3417 | SH |  | SOLE | 0 | 0 | 0 | 3417 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 262954 | 2188 | SH |  | SOLE | 0 | 0 | 0 | 2188 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 310244 | 1562 | SH |  | SOLE | 0 | 0 | 0 | 1562 |
| ISHARES TR | 10-20 YR TRS ETF | 464288653 |  | 356353 | 3505 | SH |  | SOLE | 0 | 0 | 0 | 3505 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 504134 | 4224 | SH |  | SOLE | 0 | 0 | 0 | 4224 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 475707 | 8829 | SH |  | SOLE | 0 | 0 | 0 | 8829 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 305856 | 2053 | SH |  | SOLE | 0 | 0 | 0 | 2053 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 1032795 | 20415 | SH |  | SOLE | 0 | 0 | 0 | 20415 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 6968716 | 121746 | SH |  | SOLE | 0 | 0 | 0 | 121746 |
| JANUS DETROIT STR TR | HENDERSON SECURI | 47103U746 |  | 7225795 | 138797 | SH |  | SOLE | 0 | 0 | 0 | 138797 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 3762085 | 74379 | SH |  | SOLE | 0 | 0 | 0 | 74379 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 966250 | 4669 | SH |  | SOLE | 0 | 0 | 0 | 4669 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 6202016 | 19248 | SH |  | SOLE | 0 | 0 | 0 | 19248 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 474587 | 4704 | SH |  | SOLE | 0 | 0 | 0 | 4704 |
| LINCOLN EDL SVCS CORP | COM | 533535100 |  | 501330 | 20759 | SH |  | SOLE | 0 | 0 | 0 | 20759 |
| LINDE PLC | SHS | G54950103 |  | 4488608 | 10527 | SH |  | SOLE | 0 | 0 | 0 | 10527 |
| MARATHON PETE CORP | COM | 56585A102 |  | 225243 | 1385 | SH |  | SOLE | 0 | 0 | 0 | 1385 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 291720 | 511 | SH |  | SOLE | 0 | 0 | 0 | 511 |
| MCKESSON CORP | COM | 58155Q103 |  | 2392786 | 2917 | SH |  | SOLE | 0 | 0 | 0 | 2917 |
| MERCK  CO INC | COM | 58933Y105 |  | 619258 | 5883 | SH |  | SOLE | 0 | 0 | 0 | 5883 |
| META PLATFORMS INC | CL A | 30303M102 |  | 5293607 | 8020 | SH |  | SOLE | 0 | 0 | 0 | 8020 |
| MICROSOFT CORP | COM | 594918104 |  | 14000215 | 28949 | SH |  | SOLE | 0 | 0 | 0 | 28949 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 203585 | 3782 | SH |  | SOLE | 0 | 0 | 0 | 3782 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 273751 | 1542 | SH |  | SOLE | 0 | 0 | 0 | 1542 |
| NETFLIX INC | COM | 64110L106 |  | 308470 | 3290 | SH |  | SOLE | 0 | 0 | 0 | 3290 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 466977 | 9178 | SH |  | SOLE | 0 | 0 | 0 | 9178 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 13125970 | 70381 | SH |  | SOLE | 0 | 0 | 0 | 70381 |
| OKTA INC | CL A | 679295105 |  | 3550026 | 41055 | SH |  | SOLE | 0 | 0 | 0 | 41055 |
| ORACLE CORP | COM | 68389X105 |  | 3254412 | 16697 | SH |  | SOLE | 0 | 0 | 0 | 16697 |
| PACER FDS TR | US SMALL CAP CAS | 69374H857 |  | 439751 | 9911 | SH |  | SOLE | 0 | 0 | 0 | 9911 |
| PACER FDS TR | DEVELOPED MRKT | 69374H873 |  | 5074700 | 131197 | SH |  | SOLE | 0 | 0 | 0 | 131197 |
| PACER FDS TR | METAURUS CAP 400 | 69374H436 |  | 2423994 | 57062 | SH |  | SOLE | 0 | 0 | 0 | 57062 |
| PACER FDS TR | US CASH COWS 100 | 69374H881 |  | 678116 | 11270 | SH |  | SOLE | 0 | 0 | 0 | 11270 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 255960 | 1440 | SH |  | SOLE | 0 | 0 | 0 | 1440 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 501007 | 570 | SH |  | SOLE | 0 | 0 | 0 | 570 |
| PFIZER INC | COM | 717081103 |  | 355846 | 14291 | SH |  | SOLE | 0 | 0 | 0 | 14291 |
| PIMCO ETF TR | MULTISECTOR BD | 72201R585 |  | 514310 | 19277 | SH |  | SOLE | 0 | 0 | 0 | 19277 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 9362914 | 93312 | SH |  | SOLE | 0 | 0 | 0 | 93312 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 637646 | 4449 | SH |  | SOLE | 0 | 0 | 0 | 4449 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 1269843 | 12202 | SH |  | SOLE | 0 | 0 | 0 | 12202 |
| PULTE GROUP INC | COM | 745867101 |  | 833367 | 7107 | SH |  | SOLE | 0 | 0 | 0 | 7107 |
| REALTY INCOME CORP | COM | 756109104 |  | 795062 | 14104 | SH |  | SOLE | 0 | 0 | 0 | 14104 |
| RIVERNORTH OPPORTUNITIES FD | COM | 76881Y109 |  | 136431 | 11621 | SH |  | SOLE | 0 | 0 | 0 | 11621 |
| RTX CORPORATION | COM | 75513E101 |  | 544515 | 2969 | SH |  | SOLE | 0 | 0 | 0 | 2969 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US L | 808524771 |  | 409744 | 15059 | SH |  | SOLE | 0 | 0 | 0 | 15059 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US B | 808524789 |  | 930375 | 35016 | SH |  | SOLE | 0 | 0 | 0 | 35016 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 5252312 | 191481 | SH |  | SOLE | 0 | 0 | 0 | 191481 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 256160 | 5666 | SH |  | SOLE | 0 | 0 | 0 | 5666 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 2683303 | 17334 | SH |  | SOLE | 0 | 0 | 0 | 17334 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 6794808 | 47196 | SH |  | SOLE | 0 | 0 | 0 | 47196 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 7473147 | 136446 | SH |  | SOLE | 0 | 0 | 0 | 136446 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 204764 | 2636 | SH |  | SOLE | 0 | 0 | 0 | 2636 |
| SELECT SECTOR SPDR TR | STATE STREET IND | 81369Y704 |  | 2502241 | 16131 | SH |  | SOLE | 0 | 0 | 0 | 16131 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 274132 | 1703 | SH |  | SOLE | 0 | 0 | 0 | 1703 |
| SNAP ON INC | COM | 833034101 |  | 267065 | 775 | SH |  | SOLE | 0 | 0 | 0 | 775 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 932914 | 2354 | SH |  | SOLE | 0 | 0 | 0 | 2354 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 8875871 | 13016 | SH |  | SOLE | 0 | 0 | 0 | 13016 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 |  | 3361962 | 36791 | SH |  | SOLE | 0 | 0 | 0 | 36791 |
| STARBUCKS CORP | COM | 855244109 |  | 282033 | 3349 | SH |  | SOLE | 0 | 0 | 0 | 3349 |
| STONERIDGE INC | COM | 86183P102 |  | 184122 | 31800 | SH |  | SOLE | 0 | 0 | 0 | 31800 |
| STRYKER CORPORATION | COM | 863667101 |  | 768134 | 2185 | SH |  | SOLE | 0 | 0 | 0 | 2185 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1022894 | 3366 | SH |  | SOLE | 0 | 0 | 0 | 3366 |
| TARGET CORP | COM | 87612E106 |  | 278881 | 2853 | SH |  | SOLE | 0 | 0 | 0 | 2853 |
| TEMA ETF TRUST | DURABLE QTY ETF | 87975E107 |  | 2295328 | 65168 | SH |  | SOLE | 0 | 0 | 0 | 65168 |
| TESLA INC | COM | 88160R101 |  | 1408523 | 3132 | SH |  | SOLE | 0 | 0 | 0 | 3132 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 |  | 215349 | 6900 | SH |  | SOLE | 0 | 0 | 0 | 6900 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 224827 | 388 | SH |  | SOLE | 0 | 0 | 0 | 388 |
| THORNBURG ETF TR | INTL EQUITY ETF | 88521L306 |  | 14596247 | 465590 | SH |  | SOLE | 0 | 0 | 0 | 465590 |
| TOTALENERGIES SE | ACT | F92124100 |  | 1633145 | 24964 | SH |  | SOLE | 0 | 0 | 0 | 24964 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 5638971 | 69012 | SH |  | SOLE | 0 | 0 | 0 | 69012 |
| UNION PAC CORP | COM | 907818108 |  | 373813 | 1616 | SH |  | SOLE | 0 | 0 | 0 | 1616 |
| US BANCORP DEL | COM NEW | 902973304 |  | 287184 | 5382 | SH |  | SOLE | 0 | 0 | 0 | 5382 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 |  | 252527 | 568 | SH |  | SOLE | 0 | 0 | 0 | 568 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 1039630 | 2131 | SH |  | SOLE | 0 | 0 | 0 | 2131 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 989382 | 2951 | SH |  | SOLE | 0 | 0 | 0 | 2951 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 216009 | 715 | SH |  | SOLE | 0 | 0 | 0 | 715 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 491089 | 1692 | SH |  | SOLE | 0 | 0 | 0 | 1692 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 265667 | 1391 | SH |  | SOLE | 0 | 0 | 0 | 1391 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 3403970 | 5428 | SH |  | SOLE | 0 | 0 | 0 | 5428 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 4728304 | 21514 | SH |  | SOLE | 0 | 0 | 0 | 21514 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 411759 | 2869 | SH |  | SOLE | 0 | 0 | 0 | 2869 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 353331 | 856 | SH |  | SOLE | 0 | 0 | 0 | 856 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 452212 | 1571 | SH |  | SOLE | 0 | 0 | 0 | 1571 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 |  | 252312 | 1890 | SH |  | SOLE | 0 | 0 | 0 | 1890 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 236700 | 314 | SH |  | SOLE | 0 | 0 | 0 | 314 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 3529490 | 15811 | SH |  | SOLE | 0 | 0 | 0 | 15811 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 271721 | 6671 | SH |  | SOLE | 0 | 0 | 0 | 6671 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 2994896 | 6606 | SH |  | SOLE | 0 | 0 | 0 | 6606 |
| VIKING THERAPEUTICS INC | COM | 92686J106 |  | 2655211 | 75475 | SH |  | SOLE | 0 | 0 | 0 | 75475 |
| VISA INC | COM CL A | 92826C839 |  | 2964201 | 8452 | SH |  | SOLE | 0 | 0 | 0 | 8452 |
| WALMART INC | COM | 931142103 |  | 609858 | 5474 | SH |  | SOLE | 0 | 0 | 0 | 5474 |
| WILLIAMS COS INC | COM | 969457100 |  | 212369 | 3533 | SH |  | SOLE | 0 | 0 | 0 | 3533 |
| WISDOMTREE TR | INDIA ERNGS FD | 97717W422 |  | 327131 | 7067 | SH |  | SOLE | 0 | 0 | 0 | 7067 |
| WISDOMTREE TR | JAPAN OPPORTUNIT | 97717W521 |  | 4255754 | 91720 | SH |  | SOLE | 0 | 0 | 0 | 91720 |

---