# EDGAR Filing Document

**Accession Number:** 0001695582
**File Stem:** 0001695582-25-000003
**Filing Date:** 2025-10
**Character Count:** 22271
**Document Hash:** fcd8e40fe5c7e4f71eaef2edcbb693b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001695582-25-000003.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0001695582-25-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251020

**EFFECTIVENESS DATE**: 20251021

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RB Capital Management, LLC
- **CENTRAL INDEX KEY:** 0001695582

**ORGANIZATION NAME:**
- **EIN:** 522241274
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17960
- **FILM NUMBER:** 251405150

**BUSINESS ADDRESS:**
- **STREET 1:** 5365 RENO CORPORATE DRIVE
- **STREET 2:** SUITE 200
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89511
- **BUSINESS PHONE:** (775) 993-2900

**MAIL ADDRESS:**
- **STREET 1:** 5365 RENO CORPORATE DRIVE
- **STREET 2:** SUITE 200
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89511

### 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:** RB Capital Management LLC<br>**Address:** 5365 RENO CORPORATE DRIVE<br>SUITE 200<br>RENO, NV 89511

**Form 13F File Number:** 028-17960

**CRD Number (if applicable):** 000125678

**SEC File Number (if applicable):** 801-62043

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:** Shawn D. Young<br>**Title:** Chief Operating Officer<br>**Phone:** (559) 478-2565

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

Shawn D. Young  Frasno, CA  10-04-2025<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:** 188

**Form 13F Information Table Value Total:** $484507825

      (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 |
| 3M CO | COM | 88579Y101 |  | 326685 | 2105 | SH |  | SOLE |  | 831 | 0 | 1274 |
| ABBOTT LABS | COM | 002824100 |  | 5479411 | 40909 | SH |  | SOLE |  | 16159 | 0 | 24750 |
| ABBVIE INC | COM | 00287Y109 |  | 3387118 | 14629 | SH |  | SOLE |  | 5778 | 0 | 8851 |
| ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 |  | 4696245 | 210594 | SH |  | SOLE |  | 83185 | 0 | 127409 |
| ADOBE INC | COM | 00724F101 |  | 1613480 | 4574 | SH |  | SOLE |  | 1807 | 0 | 2767 |
| AEMETIS INC | COM NEW | 00770K202 |  | 22500 | 10000 | SH |  | SOLE |  | 3950 | 0 | 6050 |
| ALLSPRING GLOBAL DIVIDEND OP | COM | 94987C103 |  | 290922 | 51039 | SH |  | SOLE |  | 20160 | 0 | 30879 |
| ALLSTATE CORP | COM | 020002101 |  | 603143 | 2810 | SH |  | SOLE |  | 1110 | 0 | 1700 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 8585944 | 35319 | SH |  | SOLE |  | 13951 | 0 | 21368 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 13059251 | 53620 | SH |  | SOLE |  | 21180 | 0 | 32440 |
| AMAZON COM INC | COM | 023135106 |  | 10147920 | 46217 | SH |  | SOLE |  | 18256 | 0 | 27961 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 3190235 | 9605 | SH |  | SOLE |  | 3794 | 0 | 5811 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 892525 | 4641 | SH |  | SOLE |  | 1833 | 0 | 2808 |
| AMGEN INC | COM | 031162100 |  | 4520712 | 16020 | SH |  | SOLE |  | 6328 | 0 | 9692 |
| APPLE INC | COM | 037833100 |  | 70837107 | 278196 | SH |  | SOLE |  | 109887 | 0 | 168309 |
| PUT APPLE 10-17-25@190 | COM | 037833950 |  | 5092600 | 20000 | SH | Put | SOLE |  | 7900 | 0 | 12100 |
| APPLIED MATLS INC | COM | 038222105 |  | 567244 | 2771 | SH |  | SOLE |  | 1095 | 0 | 1676 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 345618 | 481 | SH |  | SOLE |  | 190 | 0 | 291 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 850959 | 11092 | SH |  | SOLE |  | 4381 | 0 | 6711 |
| AT INC | COM | 00206R102 |  | 483599 | 17125 | SH |  | SOLE |  | 6764 | 0 | 10361 |
| AUTOZONE INC | COM | 053332102 |  | 2977427 | 694 | SH |  | SOLE |  | 274 | 0 | 420 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 1429899 | 7402 | SH |  | SOLE |  | 2924 | 0 | 4478 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 8813939 | 6886 | SH |  | SOLE |  | 2720 | 0 | 4166 |
| BANK AMERICA CORP | COM | 060505104 |  | 2303984 | 44660 | SH |  | SOLE |  | 17641 | 0 | 27019 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 913194 | 8381 | SH |  | SOLE |  | 3310 | 0 | 5071 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 22462713 | 44681 | SH |  | SOLE |  | 17649 | 0 | 27032 |
| BLACKROCK INC | COM | 09290D101 |  | 2465206 | 2114 | SH |  | SOLE |  | 835 | 0 | 1279 |
| BLACKROCK MUNIHLDNGS CALI QL | COM | 09254L107 |  | 316088 | 29133 | SH |  | SOLE |  | 11508 | 0 | 17625 |
| BLACKROCK RES  COMMODITIES | SHS | 09257A108 |  | 633502 | 62291 | SH |  | SOLE |  | 24605 | 0 | 37686 |
| BLACKSTONE INC | COM | 09260D107 |  | 496558 | 2906 | SH |  | SOLE |  | 1148 | 0 | 1758 |
| BOEING CO | COM | 097023105 |  | 336220 | 1558 | SH |  | SOLE |  | 615 | 0 | 943 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 1434039 | 266 | SH |  | SOLE |  | 105 | 0 | 161 |
| BROADCOM INC | COM | 11135F101 |  | 10346792 | 31362 | SH |  | SOLE |  | 12388 | 0 | 18974 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 242078 | 1139 | SH |  | SOLE |  | 450 | 0 | 689 |
| CATERPILLAR INC | COM | 149123101 |  | 4878137 | 10223 | SH |  | SOLE |  | 4038 | 0 | 6185 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 1123582 | 4581 | SH |  | SOLE |  | 1809 | 0 | 2772 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 209531 | 892 | SH |  | SOLE |  | 352 | 0 | 540 |
| CHEVRON CORP NEW | COM | 166764100 |  | 4914189 | 31645 | SH |  | SOLE |  | 12500 | 0 | 19145 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 1650996 | 42128 | SH |  | SOLE |  | 16641 | 0 | 25487 |
| CHUBB LIMITED | COM | H1467J104 |  | 280997 | 996 | SH |  | SOLE |  | 393 | 0 | 603 |
| CINTAS CORP | COM | 172908105 |  | 3380917 | 16471 | SH |  | SOLE |  | 6506 | 0 | 9965 |
| CISCO SYS INC | COM | 17275R102 |  | 590766 | 8634 | SH |  | SOLE |  | 3410 | 0 | 5224 |
| CME GROUP INC | COM | 12572Q105 |  | 613598 | 2271 | SH |  | SOLE |  | 897 | 0 | 1374 |
| COCA COLA CO | COM | 191216100 |  | 2330279 | 35137 | SH |  | SOLE |  | 13879 | 0 | 21258 |
| COHEN  STEERS REIT  PFD | COM | 19247X100 |  | 513769 | 22854 | SH |  | SOLE |  | 9027 | 0 | 13827 |
| COHEN  STEERS TOTAL RETURN | COM | 19247R103 |  | 287230 | 23738 | SH |  | SOLE |  | 9377 | 0 | 14361 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 238828 | 7601 | SH |  | SOLE |  | 3002 | 0 | 4599 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 328488 | 3268 | SH |  | SOLE |  | 1291 | 0 | 1977 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 15543928 | 16793 | SH |  | SOLE |  | 6633 | 0 | 10160 |
| CROWN CASTLE INC | COM | 22822V101 |  | 352317 | 3651 | SH |  | SOLE |  | 1442 | 0 | 2209 |
| CSX CORP | COM | 126408103 |  | 334742 | 9427 | SH |  | SOLE |  | 3724 | 0 | 5703 |
| CUMMINS INC | COM | 231021106 |  | 286181 | 678 | SH |  | SOLE |  | 268 | 0 | 410 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 1082530 | 10679 | SH |  | SOLE |  | 4218 | 0 | 6461 |
| DEERE  CO | COM | 244199105 |  | 1118820 | 2447 | SH |  | SOLE |  | 967 | 0 | 1480 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 716313 | 4143 | SH |  | SOLE |  | 1636 | 0 | 2507 |
| DIMENSIONAL ETF TRUST | US EQUITY MARKET | 25434V401 |  | 212611 | 2935 | SH |  | SOLE |  | 1159 | 0 | 1776 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 2614998 | 67799 | SH |  | SOLE |  | 26781 | 0 | 41018 |
| DIMENSIONAL ETF TRUST | INTERNATNAL VAL | 25434V807 |  | 1071476 | 23232 | SH |  | SOLE |  | 9177 | 0 | 14055 |
| DIMENSIONAL ETF TRUST | WORLD EX US CORE | 25434V880 |  | 561028 | 17879 | SH |  | SOLE |  | 7062 | 0 | 10817 |
| DIMENSIONAL ETF TRUST | INTL SMALL CAP V | 25434V781 |  | 739302 | 20715 | SH |  | SOLE |  | 8182 | 0 | 12533 |
| DIMENSIONAL ETF TRUST | EMERGING MKTS CO | 25434V732 |  | 391063 | 12194 | SH |  | SOLE |  | 4817 | 0 | 7377 |
| DIMENSIONAL ETF TRUST | US MKTWIDE VALUE | 25434V724 |  | 393049 | 8795 | SH |  | SOLE |  | 3474 | 0 | 5321 |
| DIMENSIONAL ETF TRUST | US LARGE CAP VAL | 25434V666 |  | 357958 | 10880 | SH |  | SOLE |  | 4298 | 0 | 6582 |
| DISNEY WALT CO | COM | 254687106 |  | 2626371 | 22938 | SH |  | SOLE |  | 9061 | 0 | 13877 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 612934 | 4953 | SH |  | SOLE |  | 1956 | 0 | 2997 |
| EA SERIES TRUST | EA BRIDGEWAY OMN | 02072L532 |  | 3804478 | 167958 | SH |  | SOLE |  | 66343 | 0 | 101615 |
| EATON CORP PLC | SHS | G29183103 |  | 631524 | 1687 | SH |  | SOLE |  | 666 | 0 | 1021 |
| ELI LILLY  CO | COM | 532457108 |  | 3507751 | 4597 | SH |  | SOLE |  | 1816 | 0 | 2781 |
| EMERSON ELEC CO | COM | 291011104 |  | 773035 | 5893 | SH |  | SOLE |  | 2328 | 0 | 3565 |
| ENVISTA HOLDINGS CORPORATION | NOTE 1.750% 8/1 | 29415FAD6 |  | 9419 | 10000 | PRN |  | SOLE |  | 3950 | 0 | 6050 |
| EQUINIX INC | COM | 29444U700 |  | 425563 | 543 | SH |  | SOLE |  | 214 | 0 | 329 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 325574 | 5364 | SH |  | SOLE |  | 2119 | 0 | 3245 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 859091 | 13272 | SH |  | SOLE |  | 5242 | 0 | 8030 |
| ESSEX PPTY TR INC | COM | 297178105 |  | 618562 | 2311 | SH |  | SOLE |  | 913 | 0 | 1398 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2763966 | 24514 | SH |  | SOLE |  | 9683 | 0 | 14831 |
| FASTENAL CO | COM | 311900104 |  | 200559 | 4090 | SH |  | SOLE |  | 1616 | 0 | 2474 |
| FERRARI N V | COM | N3167Y103 |  | 282477 | 583 | SH |  | SOLE |  | 230 | 0 | 353 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 214513 | 3253 | SH |  | SOLE |  | 1285 | 0 | 1968 |
| FORD MTR CO | COM | 345370860 |  | 271232 | 22678 | SH |  | SOLE |  | 8958 | 0 | 13720 |
| FORTINET INC | COM | 34959E109 |  | 2352138 | 27975 | SH |  | SOLE |  | 11050 | 0 | 16925 |
| GARMIN LTD | SHS | H2906T109 |  | 283227 | 1150 | SH |  | SOLE |  | 454 | 0 | 696 |
| GE AEROSPACE | COM NEW | 369604301 |  | 1573221 | 5230 | SH |  | SOLE |  | 2066 | 0 | 3164 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 367189 | 4889 | SH |  | SOLE |  | 1931 | 0 | 2958 |
| GE VERNOVA INC | COM | 36828A101 |  | 859712 | 1398 | SH |  | SOLE |  | 552 | 0 | 846 |
| GENERAC HLDGS INC | COM | 368736104 |  | 1501913 | 8972 | SH |  | SOLE |  | 3544 | 0 | 5428 |
| GLOBAL PMTS INC | NOTE 1.500% 3/0 | 37940XAU6 |  | 9153 | 10000 | PRN |  | SOLE |  | 3950 | 0 | 6050 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 3494658 | 4388 | SH |  | SOLE |  | 1733 | 0 | 2655 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 1351927 | 3172 | SH |  | SOLE |  | 1253 | 0 | 1919 |
| HERSHEY CO | COM | 427866108 |  | 1171076 | 6261 | SH |  | SOLE |  | 2473 | 0 | 3788 |
| HOME DEPOT INC | COM | 437076102 |  | 3871267 | 9554 | SH |  | SOLE |  | 3774 | 0 | 5780 |
| HONEYWELL INTL INC | COM | 438516106 |  | 616155 | 2927 | SH |  | SOLE |  | 1156 | 0 | 1771 |
| HP INC | COM | 40434L105 |  | 214025 | 7860 | SH |  | SOLE |  | 3105 | 0 | 4755 |
| INTEL CORP | COM | 458140100 |  | 214138 | 6383 | SH |  | SOLE |  | 2521 | 0 | 3862 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 754406 | 4478 | SH |  | SOLE |  | 1769 | 0 | 2709 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 305729 | 1084 | SH |  | SOLE |  | 428 | 0 | 656 |
| INTUIT | COM | 461202103 |  | 2211088 | 3238 | SH |  | SOLE |  | 1279 | 0 | 1959 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 743743 | 1663 | SH |  | SOLE |  | 657 | 0 | 1006 |
| INVESCO CALIF VALUE MUN INCO | COM | 46132H106 |  | 130957 | 12366 | SH |  | SOLE |  | 4885 | 0 | 7481 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1332087 | 2219 | SH |  | SOLE |  | 877 | 0 | 1342 |
| IRON MTN INC DEL | COM | 46284V101 |  | 4764588 | 46739 | SH |  | SOLE |  | 18462 | 0 | 28277 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 247865 | 5850 | SH |  | SOLE |  | 2311 | 0 | 3539 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 539723 | 1991 | SH |  | SOLE |  | 786 | 0 | 1205 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 379552 | 3300 | SH |  | SOLE |  | 1304 | 0 | 1997 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 366174 | 782 | SH |  | SOLE |  | 309 | 0 | 473 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 3637131 | 15032 | SH |  | SOLE |  | 5938 | 0 | 9094 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 356852 | 2472 | SH |  | SOLE |  | 976 | 0 | 1496 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 7589293 | 149454 | SH |  | SOLE |  | 59034 | 0 | 90420 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2005544 | 10816 | SH |  | SOLE |  | 4272 | 0 | 6544 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 8869419 | 28119 | SH |  | SOLE |  | 11107 | 0 | 17012 |
| KIMCO RLTY CORP | COM | 49446R109 |  | 212839 | 9741 | SH |  | SOLE |  | 3848 | 0 | 5893 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 208750 | 1559 | SH |  | SOLE |  | 616 | 0 | 943 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 228290 | 1865 | SH |  | SOLE |  | 737 | 0 | 1128 |
| LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 |  | 949669 | 149790 | SH |  | SOLE |  | 59167 | 0 | 90623 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 2333849 | 4675 | SH |  | SOLE |  | 1847 | 0 | 2828 |
| LOEWS CORP | COM | 540424108 |  | 602340 | 6000 | SH |  | SOLE |  | 2370 | 0 | 3630 |
| LOWES COS INC | COM | 548661107 |  | 304908 | 1213 | SH |  | SOLE |  | 479 | 0 | 734 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 1299512 | 7304 | SH |  | SOLE |  | 2885 | 0 | 4419 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 5716618 | 10050 | SH |  | SOLE |  | 3970 | 0 | 6080 |
| MCDONALDS CORP | COM | 580135101 |  | 1975492 | 6501 | SH |  | SOLE |  | 2568 | 0 | 3933 |
| MERCK  CO INC | COM | 58933Y105 |  | 344602 | 4106 | SH |  | SOLE |  | 1622 | 0 | 2484 |
| META PLATFORMS INC | CL A | 30303M102 |  | 11507233 | 15669 | SH |  | SOLE |  | 6189 | 0 | 9480 |
| MICROSOFT CORP | COM | 594918104 |  | 14530101 | 28053 | SH |  | SOLE |  | 11081 | 0 | 16972 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 976667 | 15634 | SH |  | SOLE |  | 6175 | 0 | 9459 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 317606 | 1998 | SH |  | SOLE |  | 789 | 0 | 1209 |
| MSCI INC | COM | 55354G100 |  | 792247 | 1396 | SH |  | SOLE |  | 551 | 0 | 845 |
| NETFLIX INC | COM | 64110L106 |  | 3015697 | 2515 | SH |  | SOLE |  | 993 | 0 | 1522 |
| NIKE INC | CL B | 654106103 |  | 3162391 | 45352 | SH |  | SOLE |  | 17914 | 0 | 27438 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 2435885 | 3998 | SH |  | SOLE |  | 1579 | 0 | 2419 |
| NUVEEN CA QUALTY MUN INCOME | COM | 67066Y105 |  | 184437 | 16038 | SH |  | SOLE |  | 6335 | 0 | 9703 |
| NUVEEN CALIFORNIA MUNI VLU F | COM STK | 67062C107 |  | 114183 | 12830 | SH |  | SOLE |  | 5068 | 0 | 7762 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 20590829 | 110359 | SH |  | SOLE |  | 43592 | 0 | 66767 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 1470053 | 34712 | SH |  | SOLE |  | 13711 | 0 | 21001 |
| ONEOK INC NEW | COM | 682680103 |  | 225918 | 3096 | SH |  | SOLE |  | 1223 | 0 | 1873 |
| ORACLE CORP | COM | 68389X105 |  | 1783820 | 6343 | SH |  | SOLE |  | 2505 | 0 | 3838 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 677694 | 6286 | SH |  | SOLE |  | 2483 | 0 | 3803 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 1256327 | 6887 | SH |  | SOLE |  | 2720 | 0 | 4167 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1496403 | 7349 | SH |  | SOLE |  | 2903 | 0 | 4446 |
| PAYCHEX INC | COM | 704326107 |  | 299127 | 2360 | SH |  | SOLE |  | 932 | 0 | 1428 |
| PEBBLEBROOK HOTEL TR | 6.375 PFD SER E | 70509V605 |  | 286982 | 14200 | SH |  | SOLE |  | 5609 | 0 | 8591 |
| PEPSICO INC | COM | 713448108 |  | 4502415 | 32059 | SH |  | SOLE |  | 12663 | 0 | 19396 |
| PFIZER INC | COM | 717081103 |  | 243903 | 9572 | SH |  | SOLE |  | 3781 | 0 | 5791 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1867189 | 11512 | SH |  | SOLE |  | 4547 | 0 | 6965 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 1853502 | 12063 | SH |  | SOLE |  | 4765 | 0 | 7298 |
| PROLOGIS INC. | COM | 74340W103 |  | 593830 | 5185 | SH |  | SOLE |  | 2048 | 0 | 3137 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 315035 | 3057 | SH |  | SOLE |  | 1208 | 0 | 1849 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 243514 | 2347 | SH |  | SOLE |  | 927 | 0 | 1420 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 1167695 | 4043 | SH |  | SOLE |  | 1597 | 0 | 2446 |
| REALTY INCOME CORP | COM | 756109104 |  | 1001364 | 16473 | SH |  | SOLE |  | 6507 | 0 | 9966 |
| ROLLINS INC | COM | 775711104 |  | 1490296 | 25371 | SH |  | SOLE |  | 10022 | 0 | 15349 |
| ROYCE SMALL CAP TRUST INC | COM | 780910105 |  | 2674724 | 165823 | SH |  | SOLE |  | 65500 | 0 | 100323 |
| RTX CORPORATION | COM | 75513E101 |  | 1438760 | 8598 | SH |  | SOLE |  | 3396 | 0 | 5202 |
| SALESFORCE INC | COM | 79466L302 |  | 5048693 | 21303 | SH |  | SOLE |  | 8415 | 0 | 12888 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 204960 | 8400 | SH |  | SOLE |  | 3318 | 0 | 5082 |
| SERVICENOW INC | COM | 81762P102 |  | 1183480 | 1286 | SH |  | SOLE |  | 508 | 0 | 778 |
| SHAKE SHACK INC | CL A | 819047101 |  | 422275 | 4511 | SH |  | SOLE |  | 1782 | 0 | 2729 |
| SNAP ON INC | COM | 833034101 |  | 897245 | 2589 | SH |  | SOLE |  | 1023 | 0 | 1566 |
| SOUTHERN CO | COM | 842587107 |  | 461326 | 4868 | SH |  | SOLE |  | 1923 | 0 | 2945 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 704186 | 1981 | SH |  | SOLE |  | 782 | 0 | 1199 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 10636314 | 15966 | SH |  | SOLE |  | 6307 | 0 | 9659 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 405025 | 5170 | SH |  | SOLE |  | 2042 | 0 | 3128 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 747921 | 10062 | SH |  | SOLE |  | 3974 | 0 | 6088 |
| STARBUCKS CORP | COM | 855244109 |  | 4654795 | 55021 | SH |  | SOLE |  | 21733 | 0 | 33288 |
| STRYKER CORPORATION | COM | 863667101 |  | 347832 | 941 | SH |  | SOLE |  | 372 | 0 | 569 |
| SUN CMNTYS INC | COM | 866674104 |  | 294178 | 2280 | SH |  | SOLE |  | 901 | 0 | 1379 |
| TESLA INC | COM | 88160R101 |  | 1178063 | 2649 | SH |  | SOLE |  | 1046 | 0 | 1603 |
| TEXAS INSTRS INC | COM | 882508104 |  | 1137934 | 6194 | SH |  | SOLE |  | 2447 | 0 | 3747 |
| TJX COS INC NEW | COM | 872540109 |  | 1319888 | 9132 | SH |  | SOLE |  | 3607 | 0 | 5525 |
| TRANSMEDICS GROUP INC | COM | 89377M109 |  | 570088 | 5081 | SH |  | SOLE |  | 2007 | 0 | 3074 |
| TRI CONTL CORP | COM | 895436103 |  | 2093738 | 61581 | SH |  | SOLE |  | 24324 | 0 | 37257 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 2165431 | 22103 | SH |  | SOLE |  | 8731 | 0 | 13372 |
| UNITED RENTALS INC | COM | 911363109 |  | 2837914 | 2973 | SH |  | SOLE |  | 1174 | 0 | 1799 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 888408 | 2573 | SH |  | SOLE |  | 1016 | 0 | 1557 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 573578 | 1748 | SH |  | SOLE |  | 690 | 0 | 1058 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1857526 | 3033 | SH |  | SOLE |  | 1198 | 0 | 1835 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 3756795 | 62582 | SH |  | SOLE |  | 24720 | 0 | 37862 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 209396 | 3495 | SH |  | SOLE |  | 1381 | 0 | 2114 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 760940 | 1019 | SH |  | SOLE |  | 403 | 0 | 616 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 320854 | 2709 | SH |  | SOLE |  | 1070 | 0 | 1639 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 640383 | 14571 | SH |  | SOLE |  | 5756 | 0 | 8815 |
| VICI PPTYS INC | COM | 925652109 |  | 1793630 | 55002 | SH |  | SOLE |  | 21726 | 0 | 33276 |
| VISA INC | COM CL A | 92826C839 |  | 9355629 | 27405 | SH |  | SOLE |  | 10825 | 0 | 16580 |
| WALMART INC | COM | 931142103 |  | 3939134 | 38222 | SH |  | SOLE |  | 15098 | 0 | 23124 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 3742036 | 16945 | SH |  | SOLE |  | 6693 | 0 | 10252 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 967532 | 11543 | SH |  | SOLE |  | 4559 | 0 | 6984 |
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 |  | 10044119 | 8138 | SH |  | SOLE |  | 3215 | 0 | 4923 |
| WP CAREY INC | COM | 92936U109 |  | 883255 | 13072 | SH |  | SOLE |  | 5163 | 0 | 7909 |
| YUM BRANDS INC | COM | 988498101 |  | 1550226 | 10199 | SH |  | SOLE |  | 4029 | 0 | 6170 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 1896923 | 22993 | SH |  | SOLE |  | 9082 | 0 | 13911 |

---