# EDGAR Filing Document

**Accession Number:** 0001859918
**File Stem:** 0001859918-25-000003
**Filing Date:** 2025-10
**Character Count:** 44325
**Document Hash:** a29462b8e4b745d40f6b4985a233ac2c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001859918-25-000003.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0001859918-25-000003

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251021

**EFFECTIVENESS DATE**: 20251021

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TECTONIC ADVISORS LLC
- **CENTRAL INDEX KEY:** 0001859918

**ORGANIZATION NAME:**
- **EIN:** 202925399
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21254
- **FILM NUMBER:** 251405796

**BUSINESS ADDRESS:**
- **STREET 1:** 17 COWBOYS WAY
- **STREET 2:** STE 250
- **CITY:** FRISCO
- **STATE:** TX
- **ZIP:** 75034
- **BUSINESS PHONE:** 713-250-4200

**MAIL ADDRESS:**
- **STREET 1:** 17 COWBOYS WAY
- **STREET 2:** STE 250
- **CITY:** FRISCO
- **STATE:** TX
- **ZIP:** 75034

### 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:** TECTONIC ADVISORS LLC<br>**Address:** 17 COWBOYS WAY<br>STE 250<br>FRISCO, TX 75034

**Form 13F File Number:** 028-21254

**CRD Number (if applicable):** 000139713

**SEC File Number (if applicable):** 801-66385

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:** Stephen Michael Mangold<br>**Title:** Chief Compliance Officer<br>**Phone:** 713-250-4200

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

/s/Stephen Michael Mangold  Plano, TX  10-21-2025<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:** 1

**Form 13F Information Table Entry Total:** 421

**Form 13F Information Table Value Total:** $1830940365

      (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.]

| No.   | Name                         | Form 13F File Number   |
|:---|:---|:---|
|  | CAIN WATTERS  ASSOCIATES LLC | 028-21257              |

### 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 |  | 573434 | 3695 | SH |  | SOLE |  | 0 | 0 | 3695 |
| ABBOTT LABS | COM | 002824100 |  | 7769 | 58 | SH |  | OTR | 1 | 0 | 0 | 58 |
| ABBOTT LABS | COM | 002824100 |  | 678975 | 5069 | SH |  | SOLE |  | 0 | 0 | 5069 |
| ABBVIE INC | COM | 00287Y109 |  | 130986 | 566 | SH |  | SOLE |  | 0 | 0 | 566 |
| ABBVIE INC | COM | 00287Y109 |  | 12230336 | 52822 | SH |  | OTR | 1 | 0 | 0 | 52822 |
| ACADEMY SPORTS  OUTDOORS IN | COM | 00402L107 |  | 2265321 | 45288 | SH |  | OTR | 1 | 0 | 0 | 45288 |
| ADOBE INC | COM | 00724F101 |  | 1960585 | 5558 | SH |  | OTR | 1 | 0 | 0 | 5558 |
| ADOBE INC | COM | 00724F101 |  | 7408 | 21 | SH |  | SOLE |  | 0 | 0 | 21 |
| ADVISORS INNER CIRCLE FD III | GQG US EQUITY ET | 00775Y256 |  | 69387631 | 2748025 | SH |  | OTR | 1 | 0 | 0 | 2748025 |
| AGCO CORP | COM | 001084102 |  | 498376 | 4655 | SH |  | OTR | 1 | 0 | 0 | 4655 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 1423826 | 8447 | SH |  | OTR | 1 | 0 | 0 | 8447 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 346900 | 1272 | SH |  | OTR | 1 | 0 | 0 | 1272 |
| ALKAMI TECHNOLOGY INC | COM | 01644J108 |  | 1255886 | 50559 | SH |  | OTR | 1 | 0 | 0 | 50559 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2301395 | 9467 | SH |  | OTR | 1 | 0 | 0 | 9467 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1833703 | 7529 | SH |  | SOLE |  | 0 | 0 | 7529 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 19484 | 80 | SH |  | OTR | 1 | 0 | 0 | 80 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 29519 | 629 | SH |  | OTR | 1 | 0 | 0 | 629 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 14001850 | 298356 | SH |  | SOLE |  | 0 | 0 | 298356 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 13051760 | 197574 | SH |  | OTR | 1 | 0 | 0 | 197574 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 53231 | 806 | SH |  | SOLE |  | 0 | 0 | 806 |
| AMAZON COM INC | COM | 023135106 |  | 177632 | 809 | SH |  | OTR | 1 | 0 | 0 | 809 |
| AMAZON COM INC | COM | 023135106 |  | 733364 | 3340 | SH |  | SOLE |  | 0 | 0 | 3340 |
| AMCOR PLC | ORD | G0250X107 |  | 4500050 | 550128 | SH |  | OTR | 1 | 0 | 0 | 550128 |
| AMEREN CORP | COM | 023608102 |  | 732213 | 7015 | SH |  | OTR | 1 | 0 | 0 | 7015 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 |  | 2936188 | 88306 | SH |  | OTR | 1 | 0 | 0 | 88306 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 1588075 | 3233 | SH |  | OTR | 1 | 0 | 0 | 3233 |
| AON PLC | SHS CL A | G0403H108 |  | 289047 | 811 | SH |  | SOLE |  | 0 | 0 | 811 |
| APPLE INC | COM | 037833100 |  | 3382104 | 13282 | SH |  | OTR | 1 | 0 | 0 | 13282 |
| APPLE INC | COM | 037833100 |  | 1986333 | 7801 | SH |  | SOLE |  | 0 | 0 | 7801 |
| APPLIED MATLS INC | COM | 038222105 |  | 2387973 | 11663 | SH |  | OTR | 1 | 0 | 0 | 11663 |
| APTIV PLC | COM SHS | G3265R107 |  | 1737419 | 20151 | SH |  | OTR | 1 | 0 | 0 | 20151 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 126025 | 6175 | SH |  | SOLE |  | 0 | 0 | 6175 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 12079998 | 591867 | SH |  | OTR | 1 | 0 | 0 | 591867 |
| ARMADA HOFFLER PPTYS INC | COM | 04208T108 |  | 144406 | 20600 | SH |  | SOLE |  | 0 | 0 | 20600 |
| ARROW ELECTRS INC | COM | 042735100 |  | 570273 | 4713 | SH |  | OTR | 1 | 0 | 0 | 4713 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 276699 | 286 | SH |  | SOLE |  | 0 | 0 | 286 |
| ASSURANT INC | COM | 04621X108 |  | 671328 | 3099 | SH |  | OTR | 1 | 0 | 0 | 3099 |
| AT INC | COM | 00206R102 |  | 179297 | 6349 | SH |  | SOLE |  | 0 | 0 | 6349 |
| AT INC | COM | 00206R102 |  | 13180910 | 466746 | SH |  | OTR | 1 | 0 | 0 | 466746 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 644022 | 3772 | SH |  | OTR | 1 | 0 | 0 | 3772 |
| AUTOZONE INC | COM | 053332102 |  | 9575816 | 2232 | SH |  | OTR | 1 | 0 | 0 | 2232 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 556876 | 2883 | SH |  | OTR | 1 | 0 | 0 | 2883 |
| AVANTOR INC | COM | 05352A100 |  | 311700 | 24976 | SH |  | OTR | 1 | 0 | 0 | 24976 |
| AVERY DENNISON CORP | COM | 053611109 |  | 489657 | 3019 | SH |  | OTR | 1 | 0 | 0 | 3019 |
| AVIAT NETWORKS INC | COM NEW | 05366Y201 |  | 1060696 | 46258 | SH |  | OTR | 1 | 0 | 0 | 46258 |
| AZZ INC | COM | 002474104 |  | 662240 | 6068 | SH |  | OTR | 1 | 0 | 0 | 6068 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 587334 | 12055 | SH |  | OTR | 1 | 0 | 0 | 12055 |
| BANC OF CALIFORNIA INC | COM | 05990K106 |  | 1970994 | 119093 | SH |  | OTR | 1 | 0 | 0 | 119093 |
| BANCFIRST CORP | COM | 05945F103 |  | 2010758 | 15902 | SH |  | OTR | 1 | 0 | 0 | 15902 |
| BANK AMERICA CORP | COM | 060505104 |  | 1557913 | 30198 | SH |  | OTR | 1 | 0 | 0 | 30198 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 985103 | 9041 | SH |  | OTR | 1 | 0 | 0 | 9041 |
| BANK OZK LITTLE ROCK ARK | COM | 06417N103 |  | 773163 | 15166 | SH |  | OTR | 1 | 0 | 0 | 15166 |
| BERKLEY W R CORP | COM | 084423102 |  | 689295 | 8996 | SH |  | OTR | 1 | 0 | 0 | 8996 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2789202 | 5548 | SH |  | OTR | 1 | 0 | 0 | 5548 |
| BJS WHSL CLUB HLDGS INC | COM | 05550J101 |  | 477533 | 5121 | SH |  | OTR | 1 | 0 | 0 | 5121 |
| BLACKSTONE INC | COM | 09260D107 |  | 1435375 | 8401 | SH |  | SOLE |  | 0 | 0 | 8401 |
| BLOCK H  R INC | COM | 093671105 |  | 8447363 | 167043 | SH |  | OTR | 1 | 0 | 0 | 167043 |
| BLOCK H  R INC | COM | 093671105 |  | 137055 | 2710 | SH |  | SOLE |  | 0 | 0 | 2710 |
| BLUE BIRD CORP | COM | 095306106 |  | 968509 | 16829 | SH |  | OTR | 1 | 0 | 0 | 16829 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 11689316 | 915373 | SH |  | OTR | 1 | 0 | 0 | 915373 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 110534 | 8656 | SH |  | SOLE |  | 0 | 0 | 8656 |
| BORGWARNER INC | COM | 099724106 |  | 712508 | 16208 | SH |  | OTR | 1 | 0 | 0 | 16208 |
| BROADCOM INC | COM | 11135F101 |  | 11459195 | 34734 | SH |  | OTR | 1 | 0 | 0 | 34734 |
| BROADCOM INC | COM | 11135F101 |  | 239774 | 727 | SH |  | SOLE |  | 0 | 0 | 727 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 479293 | 2012 | SH |  | OTR | 1 | 0 | 0 | 2012 |
| BRUNSWICK CORP | COM | 117043109 |  | 3896038 | 61607 | SH |  | OTR | 1 | 0 | 0 | 61607 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 343691 | 3219 | SH |  | SOLE |  | 0 | 0 | 3219 |
| CAMECO CORP | COM | 13321L108 |  | 946109 | 11282 | SH |  | OTR | 1 | 0 | 0 | 11282 |
| CATERPILLAR INC | COM | 149123101 |  | 735450 | 1541 | SH |  | SOLE |  | 0 | 0 | 1541 |
| CBRE GROUP INC | CL A | 12504L109 |  | 1956265 | 12416 | SH |  | OTR | 1 | 0 | 0 | 12416 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 556418 | 14341 | SH |  | OTR | 1 | 0 | 0 | 14341 |
| CHEVRON CORP NEW | COM | 166764100 |  | 50938 | 328 | SH |  | OTR | 1 | 0 | 0 | 328 |
| CHEVRON CORP NEW | COM | 166764100 |  | 399337 | 2572 | SH |  | SOLE |  | 0 | 0 | 2572 |
| CHUBB LIMITED | COM | H1467J104 |  | 409883 | 1452 | SH |  | SOLE |  | 0 | 0 | 1452 |
| CHUBB LIMITED | COM | H1467J104 |  | 2823 | 10 | SH |  | OTR | 1 | 0 | 0 | 10 |
| CIENA CORP | COM NEW | 171779309 |  | 7649714 | 52514 | SH |  | OTR | 1 | 0 | 0 | 52514 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 867310 | 30953 | SH |  | OTR | 1 | 0 | 0 | 30953 |
| CISCO SYS INC | COM | 17275R102 |  | 110396 | 1614 | SH |  | SOLE |  | 0 | 0 | 1614 |
| CISCO SYS INC | COM | 17275R102 |  | 12964798 | 189488 | SH |  | OTR | 1 | 0 | 0 | 189488 |
| CITI TRENDS INC | COM | 17306X102 |  | 464457 | 14968 | SH |  | OTR | 1 | 0 | 0 | 14968 |
| CLEAN HARBORS INC | COM | 184496107 |  | 10447810 | 44991 | SH |  | OTR | 1 | 0 | 0 | 44991 |
| CLEARWAY ENERGY INC | CL A | 18539C105 |  | 175664 | 6523 | SH |  | SOLE |  | 0 | 0 | 6523 |
| CLEARWAY ENERGY INC | CL A | 18539C105 |  | 12634916 | 469176 | SH |  | OTR | 1 | 0 | 0 | 469176 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 2053321 | 168305 | SH |  | OTR | 1 | 0 | 0 | 168305 |
| CME GROUP INC | COM | 12572Q105 |  | 312610 | 1157 | SH |  | OTR | 1 | 0 | 0 | 1157 |
| COCA COLA CO | COM | 191216100 |  | 835321 | 12595 | SH |  | SOLE |  | 0 | 0 | 12595 |
| COCA COLA CO | COM | 191216100 |  | 8246675 | 124347 | SH |  | OTR | 1 | 0 | 0 | 124347 |
| COHEN  STEERS ETF TRUST | PREFERRED AND IN | 19249U203 |  | 395464 | 15216 | SH |  | SOLE |  | 0 | 0 | 15216 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 621480 | 19780 | SH |  | OTR | 1 | 0 | 0 | 19780 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 1806742 | 31542 | SH |  | OTR | 1 | 0 | 0 | 31542 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 995809 | 10528 | SH |  | OTR | 1 | 0 | 0 | 10528 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 38300 | 381 | SH |  | SOLE |  | 0 | 0 | 381 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 9545826 | 94964 | SH |  | OTR | 1 | 0 | 0 | 94964 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 800131 | 5941 | SH |  | OTR | 1 | 0 | 0 | 5941 |
| CORTEVA INC | COM | 22052L104 |  | 720050 | 10647 | SH |  | OTR | 1 | 0 | 0 | 10647 |
| COTERRA ENERGY INC | COM | 127097103 |  | 485193 | 20516 | SH |  | OTR | 1 | 0 | 0 | 20516 |
| CRH PLC | ORD | G25508105 |  | 12924381 | 107793 | SH |  | OTR | 1 | 0 | 0 | 107793 |
| CUMMINS INC | COM | 231021106 |  | 1320707 | 3127 | SH |  | OTR | 1 | 0 | 0 | 3127 |
| CVS HEALTH CORP | COM | 126650100 |  | 809489 | 10737 | SH |  | OTR | 1 | 0 | 0 | 10737 |
| D R HORTON INC | COM | 23331A109 |  | 1717308 | 10133 | SH |  | OTR | 1 | 0 | 0 | 10133 |
| DANAHER CORPORATION | COM | 235851102 |  | 732828 | 3696 | SH |  | OTR | 1 | 0 | 0 | 3696 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 1248416 | 6558 | SH |  | OTR | 1 | 0 | 0 | 6558 |
| DEERE  CO | COM | 244199105 |  | 362150 | 792 | SH |  | OTR | 1 | 0 | 0 | 792 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 4421755 | 30900 | SH |  | OTR | 1 | 0 | 0 | 30900 |
| DIODES INC | COM | 254543101 |  | 790062 | 14848 | SH |  | OTR | 1 | 0 | 0 | 14848 |
| DISNEY WALT CO | COM | 254687106 |  | 1738922 | 15187 | SH |  | OTR | 1 | 0 | 0 | 15187 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 1959 | 19 | SH |  | SOLE |  | 0 | 0 | 19 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 639999 | 6193 | SH |  | OTR | 1 | 0 | 0 | 6193 |
| DOVER CORP | COM | 260003108 |  | 520830 | 3122 | SH |  | OTR | 1 | 0 | 0 | 3122 |
| DTE ENERGY CO | COM | 233331107 |  | 787390 | 5567 | SH |  | OTR | 1 | 0 | 0 | 5567 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 94563 | 764 | SH |  | SOLE |  | 0 | 0 | 764 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 9690224 | 78305 | SH |  | OTR | 1 | 0 | 0 | 78305 |
| DYCOM INDS INC | COM | 267475101 |  | 249455 | 855 | SH |  | OTR | 1 | 0 | 0 | 855 |
| EAGLE MATLS INC | COM | 26969P108 |  | 2148659 | 9220 | SH |  | OTR | 1 | 0 | 0 | 9220 |
| EASTMAN CHEM CO | COM | 277432100 |  | 446031 | 7074 | SH |  | OTR | 1 | 0 | 0 | 7074 |
| ELI LILLY  CO | COM | 532457108 |  | 14497 | 19 | SH |  | OTR | 1 | 0 | 0 | 19 |
| ELI LILLY  CO | COM | 532457108 |  | 2417699 | 3169 | SH |  | SOLE |  | 0 | 0 | 3169 |
| EMERSON ELEC CO | COM | 291011104 |  | 555810 | 4237 | SH |  | OTR | 1 | 0 | 0 | 4237 |
| ENBRIDGE INC | COM | 29250N105 |  | 83270 | 1650 | SH |  | SOLE |  | 0 | 0 | 1650 |
| ENBRIDGE INC | COM | 29250N105 |  | 15700858 | 311154 | SH |  | OTR | 1 | 0 | 0 | 311154 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 677965 | 5337 | SH |  | OTR | 1 | 0 | 0 | 5337 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 106159 | 6186 | SH |  | SOLE |  | 0 | 0 | 6186 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 11409388 | 664883 | SH |  | OTR | 1 | 0 | 0 | 664883 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 11551653 | 369416 | SH |  | OTR | 1 | 0 | 0 | 369416 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 9673460 | 309353 | SH |  | SOLE |  | 0 | 0 | 309353 |
| EOG RES INC | COM | 26875P101 |  | 701772 | 6259 | SH |  | OTR | 1 | 0 | 0 | 6259 |
| ETF OPPORTUNITIES TRUST | APPLIED FINA VAL | 26923N405 |  | 412106 | 9653 | SH |  | OTR | 1 | 0 | 0 | 9653 |
| ETF OPPORTUNITIES TRUST | APPLIED FINA VAL | 26923N405 |  | 106730 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| ETHAN ALLEN INTERIORS INC | COM | 297602104 |  | 1859116 | 63106 | SH |  | OTR | 1 | 0 | 0 | 63106 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 658859 | 5844 | SH |  | SOLE |  | 0 | 0 | 5844 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 11275 | 100 | SH |  | OTR | 1 | 0 | 0 | 100 |
| FB FINL CORP | COM | 30257X104 |  | 233662 | 4192 | SH |  | OTR | 1 | 0 | 0 | 4192 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 556840 | 5579 | SH |  | OTR | 1 | 0 | 0 | 5579 |
| FISERV INC | COM | 337738108 |  | 1055937 | 8190 | SH |  | OTR | 1 | 0 | 0 | 8190 |
| FLUOR CORP NEW | COM | 343412102 |  | 2565849 | 60990 | SH |  | SOLE |  | 0 | 0 | 60990 |
| FRANCO NEV CORP | COM | 351858105 |  | 1651540 | 7409 | SH |  | OTR | 1 | 0 | 0 | 7409 |
| FUNDVANTAGE TR | POLEN FOCUS GROW | 36087T395 |  | 34245831 | 1368164 | SH |  | SOLE |  | 0 | 0 | 1368164 |
| GATES INDL CORP PLC | ORD SHS | G39108108 |  | 614593 | 24762 | SH |  | OTR | 1 | 0 | 0 | 24762 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 552811 | 7361 | SH |  | OTR | 1 | 0 | 0 | 7361 |
| GEO GROUP INC NEW | COM | 36162J106 |  | 1166352 | 56923 | SH |  | OTR | 1 | 0 | 0 | 56923 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 125071 | 1127 | SH |  | SOLE |  | 0 | 0 | 1127 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 10273596 | 92555 | SH |  | OTR | 1 | 0 | 0 | 92555 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 402450 | 4844 | SH |  | OTR | 1 | 0 | 0 | 4844 |
| GLOBAL X FDS | GLBL X MLP ETF | 37954Y343 |  | 13863760 | 286323 | SH |  | SOLE |  | 0 | 0 | 286323 |
| GLOBAL X FDS | GLBL X MLP ETF | 37954Y343 |  | 16511 | 341 | SH |  | OTR | 1 | 0 | 0 | 341 |
| GOLDMAN SACHS ETF TR | ACCES TREASURY | 381430529 |  | 2216338 | 22113 | SH |  | OTR | 1 | 0 | 0 | 22113 |
| GREENBRIER COS INC | COM | 393657101 |  | 587346 | 12721 | SH |  | OTR | 1 | 0 | 0 | 12721 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 |  | 1252235 | 2862 | SH |  | OTR | 1 | 0 | 0 | 2862 |
| GULFPORT ENERGY CORP | COMMON SHARES | 402635502 |  | 1605655 | 8872 | SH |  | OTR | 1 | 0 | 0 | 8872 |
| HALOZYME THERAPEUTICS INC | COM | 40637H109 |  | 1214804 | 16564 | SH |  | OTR | 1 | 0 | 0 | 16564 |
| HANOVER INS GROUP INC | COM | 410867105 |  | 1255787 | 6914 | SH |  | OTR | 1 | 0 | 0 | 6914 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 644906 | 4835 | SH |  | OTR | 1 | 0 | 0 | 4835 |
| HASBRO INC | COM | 418056107 |  | 41901 | 552 | SH |  | SOLE |  | 0 | 0 | 552 |
| HASBRO INC | COM | 418056107 |  | 11189243 | 147518 | SH |  | OTR | 1 | 0 | 0 | 147518 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 340046 | 9955 | SH |  | SOLE |  | 0 | 0 | 9955 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 7290751 | 76931 | SH |  | OTR | 1 | 0 | 0 | 76931 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 162674 | 8603 | SH |  | SOLE |  | 0 | 0 | 8603 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 12875975 | 680908 | SH |  | OTR | 1 | 0 | 0 | 680908 |
| HERSHEY CO | COM | 427866108 |  | 792718 | 4238 | SH |  | OTR | 1 | 0 | 0 | 4238 |
| HILLMAN SOLUTIONS CORP | COM | 431636109 |  | 1083442 | 118022 | SH |  | OTR | 1 | 0 | 0 | 118022 |
| HILLTOP HOLDINGS INC | COM | 432748101 |  | 1426021 | 42670 | SH |  | OTR | 1 | 0 | 0 | 42670 |
| HOME DEPOT INC | COM | 437076102 |  | 531609 | 1312 | SH |  | OTR | 1 | 0 | 0 | 1312 |
| HONEYWELL INTL INC | COM | 438516106 |  | 529408 | 2515 | SH |  | OTR | 1 | 0 | 0 | 2515 |
| HORACE MANN EDUCATORS CORP N | COM | 440327104 |  | 1466976 | 32477 | SH |  | OTR | 1 | 0 | 0 | 32477 |
| HP INC | COM | 40434L105 |  | 2258269 | 82933 | SH |  | OTR | 1 | 0 | 0 | 82933 |
| HUBBELL INC | COM | 443510607 |  | 237101 | 551 | SH |  | OTR | 1 | 0 | 0 | 551 |
| I3 VERTICALS INC | COM CL A | 46571Y107 |  | 2883065 | 88819 | SH |  | OTR | 1 | 0 | 0 | 88819 |
| ICON PLC | SHS | G4705A100 |  | 338100 | 1932 | SH |  | SOLE |  | 0 | 0 | 1932 |
| IDEX CORP | COM | 45167R104 |  | 321777 | 1977 | SH |  | OTR | 1 | 0 | 0 | 1977 |
| INCYTE CORP | COM | 45337C102 |  | 867946 | 10234 | SH |  | OTR | 1 | 0 | 0 | 10234 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 203017 | 720 | SH |  | SOLE |  | 0 | 0 | 720 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 14832985 | 52569 | SH |  | OTR | 1 | 0 | 0 | 52569 |
| INTERNATIONAL FLAVORS | COM | 459506101 |  | 489459 | 7954 | SH |  | OTR | 1 | 0 | 0 | 7954 |
| INVESCO EXCH TRADED FD TR II | S 500 MOMNTM | 46138E339 |  | 312611 | 2582 | SH |  | OTR | 1 | 0 | 0 | 2582 |
| INVESCO EXCHANGE TRADED FD T | AEROSPACE DEFN | 46137V100 |  | 277862 | 1787 | SH |  | OTR | 1 | 0 | 0 | 1787 |
| INVESCO EXCHANGE TRADED FD T | S MDCP MOMNTUM | 46137V464 |  | 237769 | 1758 | SH |  | OTR | 1 | 0 | 0 | 1758 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 462021 | 770 | SH |  | OTR | 1 | 0 | 0 | 770 |
| IRON MTN INC DEL | COM | 46284V101 |  | 14927345 | 146433 | SH |  | OTR | 1 | 0 | 0 | 146433 |
| IRON MTN INC DEL | COM | 46284V101 |  | 197976 | 1942 | SH |  | SOLE |  | 0 | 0 | 1942 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 281515 | 4331 | SH |  | OTR | 1 | 0 | 0 | 4331 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 172294 | 2077 | SH |  | SOLE |  | 0 | 0 | 2077 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 157126 | 1894 | SH |  | OTR | 1 | 0 | 0 | 1894 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 1582119 | 17703 | SH |  | SOLE |  | 0 | 0 | 17703 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 23057 | 258 | SH |  | OTR | 1 | 0 | 0 | 258 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 592536 | 4839 | SH |  | OTR | 1 | 0 | 0 | 4839 |
| ISHARES TR | CORE INTL AGGR | 46435G672 |  | 12823279 | 250308 | SH |  | SOLE |  | 0 | 0 | 250308 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 41826 | 479 | SH |  | OTR | 1 | 0 | 0 | 479 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 13249927 | 151757 | SH |  | SOLE |  | 0 | 0 | 151757 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 464401 | 5624 | SH |  | OTR | 1 | 0 | 0 | 5624 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 10049078 | 153985 | SH |  | SOLE |  | 0 | 0 | 153985 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 24957 | 382 | SH |  | OTR | 1 | 0 | 0 | 382 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 9545976 | 80333 | SH |  | SOLE |  | 0 | 0 | 80333 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 10457 | 88 | SH |  | OTR | 1 | 0 | 0 | 88 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1093085 | 1633 | SH |  | OTR | 1 | 0 | 0 | 1633 |
| ISHARES TR | CORE S ETF | 464287200 |  | 83432261 | 124656 | SH |  | SOLE |  | 0 | 0 | 124656 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 33387761 | 333045 | SH |  | SOLE |  | 0 | 0 | 333045 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 2010537 | 20055 | SH |  | OTR | 1 | 0 | 0 | 20055 |
| ISHARES TR | CRE U S REIT ETF | 464288521 |  | 40458 | 689 | SH |  | OTR | 1 | 0 | 0 | 689 |
| ISHARES TR | CRE U S REIT ETF | 464288521 |  | 11427910 | 194617 | SH |  | SOLE |  | 0 | 0 | 194617 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 1897642 | 29190 | SH |  | SOLE |  | 0 | 0 | 29190 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 2841559 | 20345 | SH |  | OTR | 1 | 0 | 0 | 20345 |
| ISHARES TR | ULTRA SHORT DUR | 46434V878 |  | 645045 | 12710 | SH |  | OTR | 1 | 0 | 0 | 12710 |
| ITT INC | COM | 45073V108 |  | 600642 | 3360 | SH |  | OTR | 1 | 0 | 0 | 3360 |
| JANUS DETROIT STR TR | HENDRSN SHRT ETF | 47103U886 |  | 216087 | 4384 | SH |  | OTR | 1 | 0 | 0 | 4384 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 205988 | 4056 | SH |  | OTR | 1 | 0 | 0 | 4056 |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 |  | 741507 | 5626 | SH |  | OTR | 1 | 0 | 0 | 5626 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 412933 | 6312 | SH |  | OTR | 1 | 0 | 0 | 6312 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 650296 | 3507 | SH |  | SOLE |  | 0 | 0 | 3507 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 76393 | 412 | SH |  | OTR | 1 | 0 | 0 | 412 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1501967 | 4762 | SH |  | OTR | 1 | 0 | 0 | 4762 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 806455 | 31613 | SH |  | OTR | 1 | 0 | 0 | 31613 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 51156 | 1807 | SH |  | SOLE |  | 0 | 0 | 1807 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 1446200 | 51084 | SH |  | OTR | 1 | 0 | 0 | 51084 |
| KIRBY CORP | COM | 497266106 |  | 9007009 | 107933 | SH |  | OTR | 1 | 0 | 0 | 107933 |
| KLA CORP | COM NEW | 482480100 |  | 2507751 | 2325 | SH |  | OTR | 1 | 0 | 0 | 2325 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 |  | 2588908 | 65525 | SH |  | OTR | 1 | 0 | 0 | 65525 |
| KONTOOR BRANDS INC | COM | 50050N103 |  | 1448356 | 18157 | SH |  | OTR | 1 | 0 | 0 | 18157 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 763628 | 2500 | SH |  | OTR | 1 | 0 | 0 | 2500 |
| LITHIA MTRS INC | COM | 536797103 |  | 399440 | 1264 | SH |  | OTR | 1 | 0 | 0 | 1264 |
| LITTELFUSE INC | COM | 537008104 |  | 687239 | 2653 | SH |  | OTR | 1 | 0 | 0 | 2653 |
| LKQ CORP | COM | 501889208 |  | 9793786 | 320687 | SH |  | OTR | 1 | 0 | 0 | 320687 |
| LOEWS CORP | COM | 540424108 |  | 1624148 | 16178 | SH |  | OTR | 1 | 0 | 0 | 16178 |
| LOVESAC COMPANY | COM | 54738L109 |  | 761156 | 44959 | SH |  | OTR | 1 | 0 | 0 | 44959 |
| LOWES COS INC | COM | 548661107 |  | 1528894 | 6084 | SH |  | OTR | 1 | 0 | 0 | 6084 |
| MASCO CORP | COM | 574599106 |  | 6029965 | 85665 | SH |  | OTR | 1 | 0 | 0 | 85665 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 12691 | 22 | SH |  | SOLE |  | 0 | 0 | 22 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1335565 | 2348 | SH |  | OTR | 1 | 0 | 0 | 2348 |
| MATADOR RES CO | COM | 576485205 |  | 884607 | 19689 | SH |  | OTR | 1 | 0 | 0 | 19689 |
| MATADOR RES CO | COM | 576485205 |  | 188 | 4 | SH |  | SOLE |  | 0 | 0 | 4 |
| MAXLINEAR INC | COM | 57776J100 |  | 1210133 | 75257 | SH |  | OTR | 1 | 0 | 0 | 75257 |
| MCDONALDS CORP | COM | 580135101 |  | 1519 | 5 | SH |  | OTR | 1 | 0 | 0 | 5 |
| MCDONALDS CORP | COM | 580135101 |  | 597762 | 1967 | SH |  | SOLE |  | 0 | 0 | 1967 |
| MCKESSON CORP | COM | 58155Q103 |  | 822309 | 1064 | SH |  | OTR | 1 | 0 | 0 | 1064 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 1028211 | 10796 | SH |  | OTR | 1 | 0 | 0 | 10796 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 96182 | 1010 | SH |  | SOLE |  | 0 | 0 | 1010 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 425323 | 182 | SH |  | SOLE |  | 0 | 0 | 182 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 4674 | 2 | SH |  | OTR | 1 | 0 | 0 | 2 |
| MERCK  CO INC | COM | 58933Y105 |  | 62331 | 743 | SH |  | SOLE |  | 0 | 0 | 743 |
| MERCK  CO INC | COM | 58933Y105 |  | 10424727 | 124207 | SH |  | OTR | 1 | 0 | 0 | 124207 |
| META PLATFORMS INC | CL A | 30303M102 |  | 400195 | 545 | SH |  | SOLE |  | 0 | 0 | 545 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1918048 | 2612 | SH |  | OTR | 1 | 0 | 0 | 2612 |
| METLIFE INC | COM | 59156R108 |  | 1361239 | 16526 | SH |  | OTR | 1 | 0 | 0 | 16526 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 539902 | 8407 | SH |  | OTR | 1 | 0 | 0 | 8407 |
| MICROSOFT CORP | COM | 594918104 |  | 1384192 | 2672 | SH |  | SOLE |  | 0 | 0 | 2672 |
| MICROSOFT CORP | COM | 594918104 |  | 3832846 | 7400 | SH |  | OTR | 1 | 0 | 0 | 7400 |
| MKS INC. | COM | 55306N104 |  | 374907 | 3029 | SH |  | OTR | 1 | 0 | 0 | 3029 |
| MPLX LP | COM UNIT REP LTD | 55336V100 |  | 12046121 | 241164 | SH |  | OTR | 1 | 0 | 0 | 241164 |
| MPLX LP | COM UNIT REP LTD | 55336V100 |  | 28032 | 561 | SH |  | SOLE |  | 0 | 0 | 561 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 79225 | 860 | SH |  | SOLE |  | 0 | 0 | 860 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 9223898 | 100107 | SH |  | OTR | 1 | 0 | 0 | 100107 |
| NATIONAL GRID PLC | SPONSORED ADR NE | 636274409 |  | 2639447 | 36321 | SH |  | OTR | 1 | 0 | 0 | 36321 |
| NAVIGATOR HLDGS LTD | SHS | Y62132108 |  | 1305141 | 84257 | SH |  | OTR | 1 | 0 | 0 | 84257 |
| NCR ATLEOS CORPORATION | COM SHS | 63001N106 |  | 1246088 | 31699 | SH |  | OTR | 1 | 0 | 0 | 31699 |
| NEOS ETF TRUST | ENHANCED INCOME | 78433H584 |  | 207911 | 4100 | SH |  | SOLE |  | 0 | 0 | 4100 |
| NETFLIX INC | COM | 64110L106 |  | 617444 | 515 | SH |  | SOLE |  | 0 | 0 | 515 |
| NNN REIT INC | COM | 637417106 |  | 12939078 | 303948 | SH |  | OTR | 1 | 0 | 0 | 303948 |
| NNN REIT INC | COM | 637417106 |  | 131712 | 3094 | SH |  | SOLE |  | 0 | 0 | 3094 |
| NOV INC | COM | 62955J103 |  | 831018 | 62718 | SH |  | SOLE |  | 0 | 0 | 62718 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 |  | 233202 | 14566 | SH |  | SOLE |  | 0 | 0 | 14566 |
| NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 |  | 420298 | 34198 | SH |  | SOLE |  | 0 | 0 | 34198 |
| NUVEEN PFD  INCOME OPPORTUN | COM | 67073B106 |  | 410000 | 50000 | SH |  | SOLE |  | 0 | 0 | 50000 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 920026 | 4931 | SH |  | SOLE |  | 0 | 0 | 4931 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 207500 | 1112 | SH |  | OTR | 1 | 0 | 0 | 1112 |
| OGE ENERGY CORP | COM | 670837103 |  | 567923 | 12274 | SH |  | OTR | 1 | 0 | 0 | 12274 |
| OGE ENERGY CORP | COM | 670837103 |  | 49370 | 1067 | SH |  | SOLE |  | 0 | 0 | 1067 |
| OMNICOM GROUP INC | COM | 681919106 |  | 545994 | 6697 | SH |  | OTR | 1 | 0 | 0 | 6697 |
| ONEOK INC NEW | COM | 682680103 |  | 13711697 | 187909 | SH |  | OTR | 1 | 0 | 0 | 187909 |
| ONEOK INC NEW | COM | 682680103 |  | 68117 | 933 | SH |  | SOLE |  | 0 | 0 | 933 |
| ORACLE CORP | COM | 68389X105 |  | 2534451 | 9012 | SH |  | OTR | 1 | 0 | 0 | 9012 |
| ORACLE CORP | COM | 68389X105 |  | 6187 | 22 | SH |  | SOLE |  | 0 | 0 | 22 |
| P10 INC | COM CL A | 69376K106 |  | 1537539 | 141318 | SH |  | OTR | 1 | 0 | 0 | 141318 |
| PAYCHEX INC | COM | 704326107 |  | 33700 | 266 | SH |  | SOLE |  | 0 | 0 | 266 |
| PAYCHEX INC | COM | 704326107 |  | 8573682 | 67637 | SH |  | OTR | 1 | 0 | 0 | 67637 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 56482 | 1396 | SH |  | SOLE |  | 0 | 0 | 1396 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 1402667 | 34668 | SH |  | OTR | 1 | 0 | 0 | 34668 |
| PEPSICO INC | COM | 713448108 |  | 692309 | 4930 | SH |  | SOLE |  | 0 | 0 | 4930 |
| PEPSICO INC | COM | 713448108 |  | 8457719 | 60223 | SH |  | OTR | 1 | 0 | 0 | 60223 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 |  | 496054 | 38754 | SH |  | OTR | 1 | 0 | 0 | 38754 |
| PFIZER INC | COM | 717081103 |  | 59110 | 2320 | SH |  | SOLE |  | 0 | 0 | 2320 |
| PFIZER INC | COM | 717081103 |  | 8818740 | 346104 | SH |  | OTR | 1 | 0 | 0 | 346104 |
| PIMCO DYNAMIC INCOME OPRNTS | COM BEN SHS | 69355M107 |  | 339688 | 24057 | SH |  | SOLE |  | 0 | 0 | 24057 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 46977 | 503 | SH |  | SOLE |  | 0 | 0 | 503 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 146892350 | 1573566 | SH |  | OTR | 1 | 0 | 0 | 1573566 |
| PIMCO ETF TR | MULTISECTOR BD | 72201R585 |  | 795114 | 29624 | SH |  | OTR | 1 | 0 | 0 | 29624 |
| PIMCO ETF TR | MUNI INCOME OPP | 72201R635 |  | 453100 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 6266886 | 66818 | SH |  | OTR | 1 | 0 | 0 | 66818 |
| POWELL INDS INC | COM | 739128106 |  | 1510641 | 4956 | SH |  | OTR | 1 | 0 | 0 | 4956 |
| PRIMORIS SVCS CORP | COM | 74164F103 |  | 2020002 | 14709 | SH |  | OTR | 1 | 0 | 0 | 14709 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 958673 | 6239 | SH |  | SOLE |  | 0 | 0 | 6239 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 8315864 | 54122 | SH |  | OTR | 1 | 0 | 0 | 54122 |
| PROGRESSIVE CORP | COM | 743315103 |  | 4423483 | 17912 | SH |  | OTR | 1 | 0 | 0 | 17912 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 652727 | 9838 | SH |  | OTR | 1 | 0 | 0 | 9838 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 737010 | 8831 | SH |  | OTR | 1 | 0 | 0 | 8831 |
| PULTE GROUP INC | COM | 745867101 |  | 523940 | 3965 | SH |  | OTR | 1 | 0 | 0 | 3965 |
| QUANTA SVCS INC | COM | 74762E102 |  | 1266189 | 3055 | SH |  | OTR | 1 | 0 | 0 | 3055 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 632796 | 3320 | SH |  | OTR | 1 | 0 | 0 | 3320 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 563421 | 3264 | SH |  | OTR | 1 | 0 | 0 | 3264 |
| RB GLOBAL INC | COM | 74935Q107 |  | 3638837 | 33581 | SH |  | OTR | 1 | 0 | 0 | 33581 |
| REALTY INCOME CORP | COM | 756109104 |  | 112392 | 1849 | SH |  | SOLE |  | 0 | 0 | 1849 |
| REALTY INCOME CORP | COM | 756109104 |  | 10902408 | 179345 | SH |  | OTR | 1 | 0 | 0 | 179345 |
| REGAL REXNORD CORPORATION | COM | 758750103 |  | 516810 | 3603 | SH |  | OTR | 1 | 0 | 0 | 3603 |
| REGENCY CTRS CORP | COM | 758849103 |  | 633805 | 8694 | SH |  | OTR | 1 | 0 | 0 | 8694 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 675424 | 1201 | SH |  | OTR | 1 | 0 | 0 | 1201 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 2824 | 5 | SH |  | SOLE |  | 0 | 0 | 5 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 660614 | 25052 | SH |  | OTR | 1 | 0 | 0 | 25052 |
| REINSURANCE GRP OF AMERICA I | COM NEW | 759351604 |  | 579738 | 3017 | SH |  | OTR | 1 | 0 | 0 | 3017 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 512177 | 2232 | SH |  | OTR | 1 | 0 | 0 | 2232 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 1880743 | 3771 | SH |  | OTR | 1 | 0 | 0 | 3771 |
| RXO INC | COMMON STOCK | 74982T103 |  | 969278 | 63022 | SH |  | OTR | 1 | 0 | 0 | 63022 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 |  | 632057 | 7055 | SH |  | OTR | 1 | 0 | 0 | 7055 |
| SAP SE | SPON ADR | 803054204 |  | 534200 | 1999 | SH |  | SOLE |  | 0 | 0 | 1999 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 720588 | 20966 | SH |  | SOLE |  | 0 | 0 | 20966 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 1409 | 41 | SH |  | OTR | 1 | 0 | 0 | 41 |
| SHELL PLC | SPON ADS | 780259305 |  | 2149977 | 30057 | SH |  | OTR | 1 | 0 | 0 | 30057 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 1062 | 3 | SH |  | SOLE |  | 0 | 0 | 3 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 580776 | 1677 | SH |  | OTR | 1 | 0 | 0 | 1677 |
| SHOE CARNIVAL INC | COM | 824889109 |  | 1936738 | 93157 | SH |  | OTR | 1 | 0 | 0 | 93157 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 401990 | 2705 | SH |  | SOLE |  | 0 | 0 | 2705 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 136428 | 5968 | SH |  | SOLE |  | 0 | 0 | 5968 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 12640890 | 552970 | SH |  | OTR | 1 | 0 | 0 | 552970 |
| SMITH  NEPHEW PLC | SPDN ADR NEW | 83175M205 |  | 1045007 | 28796 | SH |  | OTR | 1 | 0 | 0 | 28796 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 10335362 | 122559 | SH |  | OTR | 1 | 0 | 0 | 122559 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 290064 | 816 | SH |  | OTR | 1 | 0 | 0 | 816 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 366134 | 1030 | SH |  | SOLE |  | 0 | 0 | 1030 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 210676 | 316 | SH |  | OTR | 1 | 0 | 0 | 316 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 31123533 | 339221 | SH |  | OTR | 1 | 0 | 0 | 339221 |
| SPDR SERIES TRUST | BLOOMBERG INTL T | 78464A516 |  | 12464275 | 541925 | SH |  | SOLE |  | 0 | 0 | 541925 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 74163113 | 946683 | SH |  | OTR | 1 | 0 | 0 | 946683 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL GOLD TR | 85207H104 |  | 680134 | 22962 | SH |  | OTR | 1 | 0 | 0 | 22962 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 1359575 | 15317 | SH |  | OTR | 1 | 0 | 0 | 15317 |
| SSGA ACTIVE ETF TR | SPDR TR TACTIC | 78467V848 |  | 22314 | 550 | SH |  | SOLE |  | 0 | 0 | 550 |
| SSGA ACTIVE ETF TR | SPDR TR TACTIC | 78467V848 |  | 97919038 | 2413582 | SH |  | OTR | 1 | 0 | 0 | 2413582 |
| STAG INDL INC | COM | 85254J102 |  | 467139 | 13237 | SH |  | OTR | 1 | 0 | 0 | 13237 |
| STARBUCKS CORP | COM | 855244109 |  | 450287 | 5323 | SH |  | SOLE |  | 0 | 0 | 5323 |
| STARBUCKS CORP | COM | 855244109 |  | 1692 | 20 | SH |  | OTR | 1 | 0 | 0 | 20 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 586164 | 4204 | SH |  | OTR | 1 | 0 | 0 | 4204 |
| STONEX GROUP INC | COM | 861896108 |  | 243318 | 2411 | SH |  | OTR | 1 | 0 | 0 | 2411 |
| STRATUS PPTYS INC | COM NEW | 863167201 |  | 1113757 | 52635 | SH |  | OTR | 1 | 0 | 0 | 52635 |
| STRYKER CORPORATION | COM | 863667101 |  | 718819 | 1944 | SH |  | OTR | 1 | 0 | 0 | 1944 |
| SUNOPTA INC | COM | 8676EP108 |  | 1645189 | 280749 | SH |  | OTR | 1 | 0 | 0 | 280749 |
| SYNOPSYS INC | COM | 871607107 |  | 462306 | 937 | SH |  | SOLE |  | 0 | 0 | 937 |
| SYSCO CORP | COM | 871829107 |  | 504415 | 6126 | SH |  | OTR | 1 | 0 | 0 | 6126 |
| T ROWE PRICE ETF INC | ULTRA SHRT TRM | 87283Q701 |  | 321503 | 6451 | SH |  | OTR | 1 | 0 | 0 | 6451 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 352403 | 1364 | SH |  | OTR | 1 | 0 | 0 | 1364 |
| TARGET CORP | COM | 87612E106 |  | 897289 | 10003 | SH |  | OTR | 1 | 0 | 0 | 10003 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 |  | 1951124 | 29558 | SH |  | OTR | 1 | 0 | 0 | 29558 |
| TC ENERGY CORP | COM | 87807B107 |  | 50112 | 921 | SH |  | SOLE |  | 0 | 0 | 921 |
| TC ENERGY CORP | COM | 87807B107 |  | 1299637 | 23886 | SH |  | OTR | 1 | 0 | 0 | 23886 |
| TCW ETF TRUST | FLEXIBLE INCOME | 29287L700 |  | 325962 | 8190 | SH |  | SOLE |  | 0 | 0 | 8190 |
| TCW ETF TRUST | FLEXIBLE INCOME | 29287L700 |  | 23106157 | 580557 | SH |  | OTR | 1 | 0 | 0 | 580557 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 1422212 | 32404 | SH |  | OTR | 1 | 0 | 0 | 32404 |
| TESLA INC | COM | 88160R101 |  | 282842 | 636 | SH |  | OTR | 1 | 0 | 0 | 636 |
| TEXAS CAP BANCSHARES INC | COM | 88224Q107 |  | 2118406 | 25061 | SH |  | OTR | 1 | 0 | 0 | 25061 |
| THE CAMPBELLS COMPANY | COM | 134429109 |  | 395037 | 12509 | SH |  | OTR | 1 | 0 | 0 | 12509 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 893072 | 1841 | SH |  | OTR | 1 | 0 | 0 | 1841 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 5857 | 12 | SH |  | SOLE |  | 0 | 0 | 12 |
| TIPTREE INC | COM | 88822Q103 |  | 566466 | 29550 | SH |  | OTR | 1 | 0 | 0 | 29550 |
| TOUCHSTONE ETF TRUST | TOUCHSTONE INTL | 89157W871 |  | 26480 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| TOUCHSTONE ETF TRUST | TOUCHSTONE INTL | 89157W871 |  | 40215268 | 1518692 | SH |  | OTR | 1 | 0 | 0 | 1518692 |
| TOUCHSTONE ETF TRUST | ULTRA SHORT INCM | 89157W301 |  | 322520 | 12718 | SH |  | OTR | 1 | 0 | 0 | 12718 |
| TOWER SEMICONDUCTOR LTD | SHS NEW | M87915274 |  | 1408621 | 19483 | SH |  | OTR | 1 | 0 | 0 | 19483 |
| TOYOTA MOTOR CORP | ADS | 892331307 |  | 311580 | 1631 | SH |  | SOLE |  | 0 | 0 | 1631 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 2308420 | 8267 | SH |  | OTR | 1 | 0 | 0 | 8267 |
| TRIUMPH FINANCIAL INC | COM | 89679E300 |  | 1384957 | 27677 | SH |  | OTR | 1 | 0 | 0 | 27677 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 204556 | 391 | SH |  | OTR | 1 | 0 | 0 | 391 |
| TYSON FOODS INC | CL A | 902494103 |  | 953634 | 17562 | SH |  | OTR | 1 | 0 | 0 | 17562 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 353084 | 3604 | SH |  | SOLE |  | 0 | 0 | 3604 |
| UGI CORP NEW | COM | 902681105 |  | 274462 | 8252 | SH |  | OTR | 1 | 0 | 0 | 8252 |
| UNIFIED SER TR | ABSLUTE SELCT VL | 90470L568 |  | 23046581 | 638763 | SH |  | OTR | 1 | 0 | 0 | 638763 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 1355783 | 22871 | SH |  | OTR | 1 | 0 | 0 | 22871 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 4269 | 72 | SH |  | SOLE |  | 0 | 0 | 72 |
| UNION PAC CORP | COM | 907818108 |  | 1119938 | 4738 | SH |  | OTR | 1 | 0 | 0 | 4738 |
| UNITED RENTALS INC | COM | 911363109 |  | 1308772 | 1371 | SH |  | OTR | 1 | 0 | 0 | 1371 |
| US FOODS HLDG CORP | COM | 912008109 |  | 546377 | 7131 | SH |  | OTR | 1 | 0 | 0 | 7131 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 1113062 | 6537 | SH |  | OTR | 1 | 0 | 0 | 6537 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 550003 | 6970 | SH |  | SOLE |  | 0 | 0 | 6970 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 33149609 | 445739 | SH |  | SOLE |  | 0 | 0 | 445739 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 10559400 | 141985 | SH |  | OTR | 1 | 0 | 0 | 141985 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 1985975 | 40153 | SH |  | OTR | 1 | 0 | 0 | 40153 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 2027791 | 4228 | SH |  | OTR | 1 | 0 | 0 | 4228 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 399554 | 1360 | SH |  | OTR | 1 | 0 | 0 | 1360 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 12624858 | 42980 | SH |  | OTR | 1 | 0 | 0 | 42980 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 10267573 | 34955 | SH |  | SOLE |  | 0 | 0 | 34955 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 6717718 | 73482 | SH |  | OTR | 1 | 0 | 0 | 73482 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 10111703 | 110607 | SH |  | SOLE |  | 0 | 0 | 110607 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 42037065 | 68645 | SH |  | OTR | 1 | 0 | 0 | 68645 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 83169800 | 135814 | SH |  | SOLE |  | 0 | 0 | 135814 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 10033889 | 39460 | SH |  | SOLE |  | 0 | 0 | 39460 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 8908505 | 35034 | SH |  | OTR | 1 | 0 | 0 | 35034 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 548700 | 1672 | SH |  | OTR | 1 | 0 | 0 | 1672 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 6573457 | 121326 | SH |  | OTR | 1 | 0 | 0 | 121326 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 6799661 | 125501 | SH |  | SOLE |  | 0 | 0 | 125501 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 |  | 2806766 | 19690 | SH |  | OTR | 1 | 0 | 0 | 19690 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 287386 | 2385 | SH |  | OTR | 1 | 0 | 0 | 2385 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 16822180 | 280744 | SH |  | SOLE |  | 0 | 0 | 280744 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 25946820 | 433024 | SH |  | OTR | 1 | 0 | 0 | 433024 |
| VANGUARD WELLINGTON FD | US MOMENTUM | 921935508 |  | 454407 | 2372 | SH |  | SOLE |  | 0 | 0 | 2372 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 69716 | 495 | SH |  | SOLE |  | 0 | 0 | 495 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 141091 | 1001 | SH |  | OTR | 1 | 0 | 0 | 1001 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 1320172 | 14739 | SH |  | SOLE |  | 0 | 0 | 14739 |
| VANGUARD WORLD FD | EXTENDED DUR | 921910709 |  | 34257 | 500 | SH |  | SOLE |  | 0 | 0 | 500 |
| VANGUARD WORLD FD | EXTENDED DUR | 921910709 |  | 4507239 | 65847 | SH |  | OTR | 1 | 0 | 0 | 65847 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 125620 | 2858 | SH |  | SOLE |  | 0 | 0 | 2858 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 12390501 | 281923 | SH |  | OTR | 1 | 0 | 0 | 281923 |
| VICI PPTYS INC | COM | 925652109 |  | 116244 | 3565 | SH |  | SOLE |  | 0 | 0 | 3565 |
| VICI PPTYS INC | COM | 925652109 |  | 10440182 | 320153 | SH |  | OTR | 1 | 0 | 0 | 320153 |
| VISTA ENERGY S.A.B. DE C.V. | SPONSORED ADS | 92837L109 |  | 516000 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 660519 | 153609 | SH |  | OTR | 1 | 0 | 0 | 153609 |
| WABTEC | COM | 929740108 |  | 1110885 | 5541 | SH |  | OTR | 1 | 0 | 0 | 5541 |
| WALMART INC | COM | 931142103 |  | 1282052 | 12440 | SH |  | SOLE |  | 0 | 0 | 12440 |
| WALMART INC | COM | 931142103 |  | 21333 | 207 | SH |  | OTR | 1 | 0 | 0 | 207 |
| WESCO INTL INC | COM | 95082P105 |  | 559856 | 2647 | SH |  | OTR | 1 | 0 | 0 | 2647 |
| WESTERN MIDSTREAM PARTNERS L | COM UNIT LP INT | 958669103 |  | 5728164 | 145792 | SH |  | SOLE |  | 0 | 0 | 145792 |
| WESTERN MIDSTREAM PARTNERS L | COM UNIT LP INT | 958669103 |  | 26128 | 665 | SH |  | OTR | 1 | 0 | 0 | 665 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 473757 | 19111 | SH |  | OTR | 1 | 0 | 0 | 19111 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 |  | 12737192 | 253376 | SH |  | OTR | 1 | 0 | 0 | 253376 |
| WISDOMTREE TR | GLB US QTLY DIV | 97717W844 |  | 972098 | 24008 | SH |  | SOLE |  | 0 | 0 | 24008 |
| WP CAREY INC | COM | 92936U109 |  | 10973976 | 162409 | SH |  | OTR | 1 | 0 | 0 | 162409 |
| WP CAREY INC | COM | 92936U109 |  | 42029 | 622 | SH |  | SOLE |  | 0 | 0 | 622 |
| XCEL ENERGY INC | COM | 98389B100 |  | 1046996 | 12982 | SH |  | OTR | 1 | 0 | 0 | 12982 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 469057 | 4762 | SH |  | OTR | 1 | 0 | 0 | 4762 |

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