# EDGAR Filing Document

**Accession Number:** 0001599217
**File Stem:** 0001599217-26-000002
**Filing Date:** 2026-2
**Character Count:** 26877
**Document Hash:** 673c2ea73a2027e63674219a6dde7a2f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001599217-26-000002.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001599217-26-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capstone Financial Advisors, Inc.
- **CENTRAL INDEX KEY:** 0001599217

**ORGANIZATION NAME:**
- **EIN:** 364296290
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15785
- **FILM NUMBER:** 26638315

**BUSINESS ADDRESS:**
- **STREET 1:** 2001 BUTTERFIELD ROAD, SUITE 1750
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515
- **BUSINESS PHONE:** (630) 241-0833

**MAIL ADDRESS:**
- **STREET 1:** 2001 BUTTERFIELD ROAD, SUITE 1750
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515

### 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:** Capstone Financial Advisors Inc.<br>**Address:** 2001 BUTTERFIELD ROAD SUITE 1750<br>DOWNERS GROVE, IL 60515

**Form 13F File Number:** 028-15785

**CRD Number (if applicable):** 000109341

**SEC File Number (if applicable):** 801-56979

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:** Rosaria Warren<br>**Title:** Marketing Specialist and Senior Portfolio Operations Analyst<br>**Phone:** 6302410833

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

Rosaria Warren  Downers Grove, IL  02-17-2026<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:** 186

**Form 13F Information Table Value Total:** $1878196351

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 375535 | 2997 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2997 |
| ABBVIE INC | COM | 00287Y109 |  | 877875 | 3842 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3842 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 1445601 | 5388 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5388 |
| ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 |  | 991414 | 42513 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 42513 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 415899 | 1942 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1942 |
| ALASKA AIR GROUP INC | COM | 011659109 |  | 982862 | 19540 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 19540 |
| ALLSTATE CORP | COM | 020002101 |  | 431335 | 2072 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2072 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3518662 | 11242 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 11242 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 805699 | 2568 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2568 |
| AMAZON COM INC | COM | 023135106 |  | 9085501 | 39362 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 39362 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 123500 | 50000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 50000 |
| AMERICAN CENTY ETF TR | REAL ESTATE ETF | 025072356 |  | 13816719 | 317407 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 317407 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 712753 | 1927 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1927 |
| AMGEN INC | COM | 031162100 |  | 490814 | 1500 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1500 |
| APPLE INC | COM | 037833100 |  | 39413868 | 144979 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 144979 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 329151 | 5725 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5725 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 209124 | 1596 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1596 |
| AT INC | COM | 00206R102 |  | 275994 | 11111 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 11111 |
| BANK AMERICA CORP | COM | 060505104 |  | 255035 | 4637 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4637 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 213993 | 10657 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10657 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 5283600 | 7 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 7 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2080469 | 4139 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4139 |
| BEYOND MEAT INC | COM | 08862E109 |  | 8298 | 10119 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10119 |
| BOEING CO | COM | 097023105 |  | 411226 | 1894 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1894 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 702840 | 13030 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 13030 |
| BROADCOM INC | COM | 11135F101 |  | 1058180 | 3057 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3057 |
| BYLINE BANCORP INC | COM | 124411109 |  | 462640 | 15871 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 15871 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 547710 | 3407 | SH |  | SOLE |  | 0 | 0 | 3407 |
| CARMAX INC | COM | 143130102 |  | 347760 | 9000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 9000 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 203580 | 6666 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 6666 |
| CATERPILLAR INC | COM | 149123101 |  | 1625225 | 2837 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2837 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 2789612 | 11114 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 11114 |
| CHEVRON CORP NEW | COM | 166764100 |  | 548397 | 3598 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3598 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 516298 | 13954 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 13954 |
| CHOICEONE FINL SVCS INC | COM | 170386106 |  | 239112 | 8100 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 8100 |
| CISCO SYS INC | COM | 17275R102 |  | 399341 | 5184 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5184 |
| CME GROUP INC | COM | 12572Q105 |  | 4945590 | 18110 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 18110 |
| COCA COLA CO | COM | 191216100 |  | 1194026 | 17079 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 17079 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 382694 | 4843 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4843 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 413652 | 1171 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1171 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 3461051 | 4014 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4014 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 739704 | 1578 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1578 |
| CSX CORP | COM | 126408103 |  | 276008 | 7614 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 7614 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 1026630 | 5579 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5579 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 230536 | 1831 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1831 |
| DIMENSIONAL ETF TRUST | INTL CORE EQT MK | 25434V203 |  | 2557739 | 67115 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 67115 |
| DIMENSIONAL ETF TRUST | INTL CORE EQUITY | 25434V799 |  | 715045 | 20750 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 20750 |
| DIMENSIONAL ETF TRUST | US CORE EQT MKT | 25434V104 |  | 2758157 | 58935 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 58935 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 216967904 | 5480371 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5480371 |
| DIMENSIONAL ETF TRUST | WORLD EX US CORE | 25434V880 |  | 68434782 | 2090889 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2090889 |
| DISNEY WALT CO | COM | 254687106 |  | 262696 | 2309 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2309 |
| EA SERIES TRUST | ALPHA ARCHITECT | 02072L516 |  | 499248 | 5561 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5561 |
| EATON CORP PLC | SHS | G29183103 |  | 1735243 | 5448 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5448 |
| ELASTIC N V | ORD SHS | N14506104 |  | 325147 | 4310 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4310 |
| ELI LILLY  CO | COM | 532457108 |  | 660873 | 615 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 615 |
| EQUINOX GOLD CORP | COM | 29446Y502 |  | 296525 | 21120 | SH |  | SOLE |  | 0 | 0 | 21120 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1606560 | 13350 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 13350 |
| FAIR ISAAC CORP | COM | 303250104 |  | 294168 | 174 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 174 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 226404 | 2970 | SH |  | SOLE |  | 0 | 0 | 2970 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 908175 | 19401 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 19401 |
| FIGS INC | CL A | 30260D103 |  | 113600 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| FLEXSHARES TR | M STAR DEV MKT | 33939L803 |  | 42636272 | 459789 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 459789 |
| FLEXSHARES TR | MORNSTAR USMKT | 33939L100 |  | 41917358 | 168556 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 168556 |
| FLEXSHARES TR | STOXX GLOBR INF | 33939L795 |  | 138568436 | 2290009 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2290009 |
| FORD MTR CO | COM | 345370860 |  | 368246 | 28067 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 28067 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 355429 | 6998 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 6998 |
| GE AEROSPACE | COM NEW | 369604301 |  | 640961 | 2081 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2081 |
| GE VERNOVA INC | COM | 36828A101 |  | 389529 | 596 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 596 |
| GENERAL MLS INC | COM | 370334104 |  | 973152 | 20928 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 20928 |
| GERDAU SA | SPON ADR REP PFD | 373737105 |  | 36900 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| GODADDY INC | CL A | 380237107 |  | 248160 | 2000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2000 |
| GRUPO TELEVISA S A B | SPON ADR REP ORD | 40049J206 |  | 145500 | 50000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 50000 |
| HOME DEPOT INC | COM | 437076102 |  | 738344 | 2146 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2146 |
| HONEYWELL INTL INC | COM | 438516106 |  | 208838 | 1070 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1070 |
| INTEL CORP | COM | 458140100 |  | 562782 | 15252 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 15252 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 815302 | 5034 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5034 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1529351 | 5163 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5163 |
| INVESCO EXCH TRADED FD TR II | NATL AMT MUNI | 46138E537 |  | 242868 | 10473 | SH |  | SOLE |  | 0 | 0 | 10473 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2296327 | 3738 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3738 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 360509 | 7261 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 7261 |
| ISHARES S GSCI COMMODITY- | UNIT BEN INT | 46428R107 |  | 221376 | 9600 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 9600 |
| ISHARES TR | CORE INTL AGGR | 46435G672 |  | 6296456 | 125904 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 125904 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 77625575 | 917126 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 917126 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 232955 | 3530 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3530 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 419353 | 3489 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3489 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 31848337 | 214193 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 214193 |
| ISHARES TR | CORE S ETF | 464287200 |  | 909741 | 1328 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1328 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 8793939 | 88045 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 88045 |
| ISHARES TR | CRE U S REIT ETF | 464288521 |  | 234153 | 4111 | SH |  | SOLE |  | 0 | 0 | 4111 |
| ISHARES TR | GLB INFRASTR ETF | 464288372 |  | 6872832 | 112008 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 112008 |
| ISHARES TR | GLOBAL REIT ETF | 46434V647 |  | 21169902 | 848493 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 848493 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 240280 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 2061228 | 19244 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 19244 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 242374749 | 649033 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 649033 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 54282093 | 114689 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 114689 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 8763345 | 35600 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 35600 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 910256 | 2353 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2353 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 211564 | 1716 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1716 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 231289 | 1158 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1158 |
| ISHARES TR | ULTRA SHORT DUR | 46434V878 |  | 408525 | 8077 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 8077 |
| ISHARES TR | US INFRASTRUC | 46435U713 |  | 344588 | 6549 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 6549 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 814230 | 14225 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 14225 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 594207 | 10224 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10224 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 388730 | 7631 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 7631 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1009428 | 4878 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4878 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 17820539 | 55306 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 55306 |
| KRISPY KREME INC | COM | 50101L106 |  | 40200 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 368148 | 2151 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2151 |
| LAMB WESTON HLDGS INC | COM | 513272104 |  | 562105 | 13419 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 13419 |
| LOANDEPOT INC | COM CL A | 53946R106 |  | 31050 | 15000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 15000 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 340088 | 703 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 703 |
| LOWES COS INC | COM | 548661107 |  | 227203 | 942 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 942 |
| LUMEN TECHNOLOGIES INC | COM | 550241103 |  | 1400823 | 180286 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 180286 |
| LYFT INC | CL A COM | 55087P104 |  | 311063 | 16059 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 16059 |
| MARATHON PETE CORP | COM | 56585A102 |  | 309648 | 1904 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1904 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 445850 | 781 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 781 |
| MCDONALDS CORP | COM | 580135101 |  | 60532142 | 198057 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 198057 |
| MCDONALDS CORP | PUT | 580135101 |  | 366756 | 1200 | PRN | Put | SOLE |  | 0 | 0 | 1200 |
| MERCK  CO INC | COM | 58933Y105 |  | 932904 | 8863 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 8863 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1957405 | 2965 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2965 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 581038 | 2036 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2036 |
| MICROSOFT CORP | COM | 594918104 |  | 7612019 | 15740 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 15740 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 221904 | 1250 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1250 |
| NEOGENOMICS INC | COM NEW | 64049M209 |  | 117600 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| NETFLIX INC | COM | 64110L106 |  | 512774 | 5469 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5469 |
| NOODLES  CO | COM CL A | 65540B105 |  | 17650 | 25000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 25000 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 13799118 | 73990 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 73990 |
| ORACLE CORP | COM | 68389X105 |  | 329955 | 1693 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1693 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 968916 | 5451 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5451 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 241487 | 1311 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1311 |
| PEPSICO INC | COM | 713448108 |  | 482601 | 3363 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3363 |
| PFIZER INC | COM | 717081103 |  | 230593 | 9261 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 9261 |
| PORTILLOS INC | COM CL A | 73642K106 |  | 266703 | 58745 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 58745 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 424712 | 2964 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2964 |
| QUALCOMM INC | COM | 747525103 |  | 2913566 | 17033 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 17033 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 350158 | 3096 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3096 |
| RYANAIR HOLDINGS PLC | SPONSORED ADR | 783513203 |  | 360950 | 5000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5000 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 229734 | 9556 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 9556 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 610160 | 23262 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 23262 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 436358 | 16215 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 16215 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 223797 | 2881 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2881 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 240370 | 1553 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1553 |
| SELECT SECTOR SPDR TR | STATE STREET IND | 81369Y704 |  | 241262 | 1555 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1555 |
| SELECTQUOTE INC | COM | 816307300 |  | 14100 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 640834 | 1617 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1617 |
| SPDR INDEX SHS FDS | DJ GLB RL ES ETF | 78463X749 |  | 2980869 | 66212 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 66212 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 2933022 | 4301 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4301 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 9158541 | 15181 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 15181 |
| STRATEGY INC | CALL | 594972408 |  | 455850 | 3000 | PRN | Call | SOLE |  | 0 | 0 | 3000 |
| STRATEGY INC | CL A NEW | 594972408 |  | 2009387 | 13224 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 13224 |
| STRIVE INC | CL A COM | 862945102 |  | 7456 | 10102 | SH |  | SOLE |  | 0 | 0 | 10102 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 328809 | 1082 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1082 |
| TESLA INC | COM | 88160R101 |  | 1261911 | 2806 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2806 |
| THE CIGNA GROUP | COM | 125523100 |  | 1150740 | 4181 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 4181 |
| THE ONE GROUP HOSPITALITY IN | COM | 88338K103 |  | 35000 | 20000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 20000 |
| TRI CONTL CORP | COM | 895436103 |  | 2466255 | 75513 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 75513 |
| UNILEVER PLC | SPON ADR NEW | 904767803 |  | 1546056 | 23640 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 23640 |
| UNITED HOMES GROUP INC | CL A | 91060H108 |  | 15600 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 201059 | 2027 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2027 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 280924 | 851 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 851 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 130805383 | 1765970 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1765970 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 53521849 | 1107654 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1107654 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 261120 | 535 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 535 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 2431982 | 3878 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3878 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 321134179 | 957838 | SH |  | SOLE | CapstoneCapstone Financial Advisors | 0 | 0 | 957838 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 424176 | 2221 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2221 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 380856 | 5177 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5177 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 8261068 | 164269 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 164269 |
| VANGUARD SCOTTSDALE FDS | TOTAL WLD BD ETF | 92206C565 |  | 266553 | 3878 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3878 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000IDX | 92206C730 |  | 6966161 | 22541 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 22541 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 |  | 4918974 | 49427 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 49427 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 8683212 | 39509 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 39509 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 86466244 | 1146159 | SH |  | SOLE | CapstoneCapstone Financial Advisors | 0 | 0 | 1146159 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 578309 | 9257 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 9257 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 203756 | 2845 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2845 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 676459 | 5592 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5592 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 468840 | 622 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 622 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 342554 | 8410 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 8410 |
| VINCI COMPASS INVESTMENTS LT | COM CL A | G9451V109 |  | 130400 | 10000 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 10000 |
| VISA INC | COM CL A | 92826C839 |  | 547884 | 1562 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 1562 |
| WALMART INC | COM | 931142103 |  | 2591729 | 23263 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 23263 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 304311 | 3265 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 3265 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 321447 | 2299 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 2299 |
| WISDOMTREE TR | YIELD ENHANCD US | 97717X511 |  | 571586 | 12976 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 12976 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 438717 | 5139 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 5139 |
| WW GRAINGER INC | COM | 384802104 |  | 631666 | 626 | SH |  | SOLE | Capstone Financial Advisors | 0 | 0 | 626 |

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