# EDGAR Filing Document

**Accession Number:** 0001737871
**File Stem:** 0001737871-25-000004
**Filing Date:** 2025-8
**Character Count:** 26770
**Document Hash:** a7c71f6ed11c0633d90ebf343bff12db
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001737871-25-000004.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001737871-25-000004

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**EFFECTIVENESS DATE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LFA - Lugano Financial Advisors SA
- **CENTRAL INDEX KEY:** 0001737871

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1217

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18897
- **FILM NUMBER:** 251192124

**BUSINESS ADDRESS:**
- **STREET 1:** VIA F. PELLI 3
- **CITY:** LUGANO
- **STATE:** V8
- **ZIP:** 6900
- **BUSINESS PHONE:** 0919124961

**MAIL ADDRESS:**
- **STREET 1:** VIA F. PELLI 3
- **CITY:** LUGANO
- **STATE:** V8
- **ZIP:** 6900

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** LFA - Lugano Financial Advisors SA<br>**Address:** VIA F. PELLI 3<br>LUGANO, V8 6900

**Form 13F File Number:** 028-18897

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:** Tuomas Ahonen<br>**Title:** Portfolio Manager<br>**Phone:** 0041919226917

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

Tuomas Ahonen  Lugano, V8  08-07-2025<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:** 245

**Form 13F Information Table Value Total:** $168761376

      (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 |  | 121792 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 366534 | 2707 | SH |  | SOLE |  | 2707 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 228198 | 1240 | SH |  | SOLE |  | 1240 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 27468 | 71 | SH |  | SOLE |  | 71 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 19157 | 135 | SH |  | SOLE |  | 135 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 30054 | 265 | SH |  | SOLE |  | 265 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 410968 | 2332 | SH |  | SOLE |  | 2332 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 611463 | 3447 | SH |  | SOLE |  | 3447 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 123123 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 2638823 | 12028 | SH |  | SOLE |  | 12028 | 0 | 0 |
| AMEREN CORP | COM | 023608102 |  | 6147 | 64 | SH |  | SOLE |  | 64 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 137171 | 1322 | SH |  | SOLE |  | 1322 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 21725 | 220 | SH |  | SOLE |  | 220 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 16661 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 977020 | 4762 | SH |  | SOLE |  | 4762 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 5126 | 28 | SH |  | SOLE |  | 28 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 26256 | 75 | SH |  | SOLE |  | 75 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 93155 | 291 | SH |  | SOLE |  | 291 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 132772 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 50002 | 1745 | SH |  | SOLE |  | 1745 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 118565 | 383 | SH |  | SOLE |  | 383 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 7424 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 36346 | 953 | SH |  | SOLE |  | 953 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 209438 | 4426 | SH |  | SOLE |  | 4426 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 52949 | 109 | SH |  | SOLE |  | 109 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 297352 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 272094 | 47 | SH |  | SOLE |  | 47 | 0 | 0 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 4998 | 48 | SH |  | SOLE |  | 48 | 0 | 0 |
| BRIGHT HORIZONS FAM SOL IN D | COM | 109194100 |  | 494 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 153261 | 556 | SH |  | SOLE |  | 556 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 64948 | 890 | SH |  | SOLE |  | 890 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 483491 | 1250 | SH |  | SOLE |  | 1250 | 0 | 0 |
| CENCORA INC | COM | 03073E105 |  | 900 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 21441 | 235 | SH |  | SOLE |  | 235 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 44389 | 310 | SH |  | SOLE |  | 310 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 18136 | 323 | SH |  | SOLE |  | 323 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 79339 | 240 | SH |  | SOLE |  | 240 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 34483 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 118389 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 256257 | 3622 | SH |  | SOLE |  | 3622 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 107951 | 308 | SH |  | SOLE |  | 308 | 0 | 0 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 86933 | 801 | SH |  | SOLE |  | 801 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 323880 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 1521 | 31 | SH |  | SOLE |  | 31 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 18144 | 345 | SH |  | SOLE |  | 345 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 8720 | 117 | SH |  | SOLE |  | 117 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 30646 | 31 | SH |  | SOLE |  | 31 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 10866 | 333 | SH |  | SOLE |  | 333 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 77789 | 1140 | SH |  | SOLE |  | 1140 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 21729 | 110 | SH |  | SOLE |  | 110 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 45764 | 90 | SH |  | SOLE |  | 90 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 7322 | 42 | SH |  | SOLE |  | 42 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 |  | 7329 | 74 | SH |  | SOLE |  | 74 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 12286 | 165 | SH |  | SOLE |  | 165 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 23441 | 87 | SH |  | SOLE |  | 87 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 101673 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 246257 | 1542 | SH |  | SOLE |  | 1542 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 125504 | 161 | SH |  | SOLE |  | 161 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 340767 | 4018 | SH |  | SOLE |  | 4018 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 12575 | 106 | SH |  | SOLE |  | 106 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 82467 | 765 | SH |  | SOLE |  | 765 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 382301 | 7300 | SH |  | SOLE |  | 7300 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | CLOUD COMPUTING | 33734X192 |  | 32843 | 270 | SH |  | SOLE |  | 270 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | INSTL PFD SECS | 33739P855 |  | 453578 | 24000 | SH |  | SOLE |  | 24000 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | LNG/SHT EQUITY | 33739P103 |  | 4260810 | 64285 | SH |  | SOLE |  | 64285 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ CYB ETF | 33734X846 |  | 2734938 | 36186 | SH |  | SOLE |  | 36186 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SENIOR LN FD | 33738D309 |  | 149240 | 3270 | SH |  | SOLE |  | 3270 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SMID RISNG ETF | 33741X102 |  | 4478408 | 126939 | SH |  | SOLE |  | 126939 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 9138 | 53 | SH |  | SOLE |  | 53 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 45037 | 426 | SH |  | SOLE |  | 426 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 27808 | 225 | SH |  | SOLE |  | 225 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 16925 | 32 | SH |  | SOLE |  | 32 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 |  | 588 | 20 | SH |  | SOLE |  | 20 | 0 | 0 |
| GLOBAL X FDS | RENEWABLE ENERGY | 37954Y707 |  | 925272 | 94512 | SH |  | SOLE |  | 94512 | 0 | 0 |
| GLOBAL X FDS | RBTCS ARTFL INTE | 37954Y715 |  | 20243 | 620 | SH |  | SOLE |  | 620 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 |  | 16882 | 435 | SH |  | SOLE |  | 435 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 50958 | 72 | SH |  | SOLE |  | 72 | 0 | 0 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 155663 | 1835 | SH |  | SOLE |  | 1835 | 0 | 0 |
| GRAYSCALE BITCOIN MINI TR ET | SHS NEW | 389930207 |  | 17429 | 365 | SH |  | SOLE |  | 365 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 1916 | 5 | SH |  | SOLE |  | 5 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 8298 | 50 | SH |  | SOLE |  | 50 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 31898 | 87 | SH |  | SOLE |  | 87 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 217044 | 932 | SH |  | SOLE |  | 932 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 |  | 5010 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 11002 | 45 | SH |  | SOLE |  | 45 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 34526 | 2060 | SH |  | SOLE |  | 2060 | 0 | 0 |
| HYATT HOTELS CORP | COM CL A | 448579102 |  | 3771 | 27 | SH |  | SOLE |  | 27 | 0 | 0 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 516320 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 29344 | 1310 | SH |  | SOLE |  | 1310 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 31916 | 576 | SH |  | SOLE |  | 576 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 61949 | 114 | SH |  | SOLE |  | 114 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 341308 | 1878 | SH |  | SOLE |  | 1878 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | GBL LISTED PVT | 46137V118 |  | 1210039 | 17575 | SH |  | SOLE |  | 17575 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | GLOBAL WATER | 46138E651 |  | 513571 | 11497 | SH |  | SOLE |  | 11497 | 0 | 0 |
| INVESCO ACTVELY MNGD ETC FD | OPTIMUM YIELD | 46090F100 |  | 1396532 | 107096 | SH |  | SOLE |  | 107096 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 |  | 105546 | 9530 | SH |  | SOLE |  | 9530 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | VAR RATE PFD | 46138G870 |  | 52086 | 2140 | SH |  | SOLE |  | 2140 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 11189 | 71 | SH |  | SOLE |  | 71 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 1923625 | 23366 | SH |  | SOLE |  | 23366 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 2746491 | 28863 | SH |  | SOLE |  | 28863 | 0 | 0 |
| ISHARES TR | MSCI GBL SUS DEV | 46435G532 |  | 137307 | 1810 | SH |  | SOLE |  | 1810 | 0 | 0 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 271076 | 1437 | SH |  | SOLE |  | 1437 | 0 | 0 |
| ISHARES TR | HDG MSCI JAPAN | 46434V886 |  | 304638 | 6868 | SH |  | SOLE |  | 6868 | 0 | 0 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 44348 | 1040 | SH |  | SOLE |  | 1040 | 0 | 0 |
| ISHARES TR | 10-20 YR TRS ETF | 464288653 |  | 4102698 | 40677 | SH |  | SOLE |  | 40677 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 10510 | 120 | SH |  | SOLE |  | 120 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 98861 | 835 | SH |  | SOLE |  | 835 | 0 | 0 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 4663443 | 88195 | SH |  | SOLE |  | 88195 | 0 | 0 |
| ISHARES TR | A RATE CP BD ETF | 46429B291 |  | 1880410 | 39595 | SH |  | SOLE |  | 39595 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 151812 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 28769 | 470 | SH |  | SOLE |  | 470 | 0 | 0 |
| ISHARES TR | USD INV GRDE ETF | 464288620 |  | 108056 | 2117 | SH |  | SOLE |  | 2117 | 0 | 0 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 28527 | 369 | SH |  | SOLE |  | 369 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 159571 | 257 | SH |  | SOLE |  | 257 | 0 | 0 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 67115 | 497 | SH |  | SOLE |  | 497 | 0 | 0 |
| ISHARES TR | ESG AWRE 1 5 YR | 46435G243 |  | 11421014 | 457113 | SH |  | SOLE |  | 457113 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 129148 | 2071 | SH |  | SOLE |  | 2071 | 0 | 0 |
| ISHARES TR | IBDS DEC28 ETF | 46435U515 |  | 2304794 | 91368 | SH |  | SOLE |  | 91368 | 0 | 0 |
| ISHARES TR | IBONDS DEC 29 | 46436E205 |  | 3618056 | 156301 | SH |  | SOLE |  | 156301 | 0 | 0 |
| ISHARES TR | IBONDS DEC 2030 | 46436E726 |  | 1342932 | 61573 | SH |  | SOLE |  | 61573 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 19088 | 239 | SH |  | SOLE |  | 239 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 1077554 | 11734 | SH |  | SOLE |  | 11734 | 0 | 0 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 30409 | 499 | SH |  | SOLE |  | 499 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 1717986 | 19219 | SH |  | SOLE |  | 19219 | 0 | 0 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 223958 | 3547 | SH |  | SOLE |  | 3547 | 0 | 0 |
| ISHARES INC | MSCI GERMANY ETF | 464286806 |  | 94055 | 2223 | SH |  | SOLE |  | 2223 | 0 | 0 |
| ISHARES INC | MSCI SWITZERLAND | 464286749 |  | 1477787 | 26962 | SH |  | SOLE |  | 26962 | 0 | 0 |
| ISHARES TR | MSCI UK ETF NEW | 46435G334 |  | 546905 | 13769 | SH |  | SOLE |  | 13769 | 0 | 0 |
| ISHARES TR | ESG OPTIMIZED | 464288802 |  | 170225 | 1343 | SH |  | SOLE |  | 1343 | 0 | 0 |
| ISHARES INC | MSCI WORLD ETF | 464286392 |  | 18293 | 108 | SH |  | SOLE |  | 108 | 0 | 0 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 2729901 | 24893 | SH |  | SOLE |  | 24893 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 273588 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 20480629 | 229552 | SH |  | SOLE |  | 229552 | 0 | 0 |
| ISHARES TR | US INTL HGH YLD | 464286178 |  | 176327 | 3847 | SH |  | SOLE |  | 3847 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 19453 | 641 | SH |  | SOLE |  | 641 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 198095 | 918 | SH |  | SOLE |  | 918 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 22913 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 457016 | 1584 | SH |  | SOLE |  | 1584 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 26038 | 895 | SH |  | SOLE |  | 895 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 379136 | 2850 | SH |  | SOLE |  | 2850 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 7088 | 27 | SH |  | SOLE |  | 27 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 973 | 10 | SH |  | SOLE |  | 10 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 34030 | 309 | SH |  | SOLE |  | 309 | 0 | 0 |
| LITMAN GREGORY FDS TR | IMGP DBI MANAGED | 53700T827 |  | 298983 | 11620 | SH |  | SOLE |  | 11620 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 18531 | 78 | SH |  | SOLE |  | 78 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 49724 | 182 | SH |  | SOLE |  | 182 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 204270 | 364 | SH |  | SOLE |  | 364 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 146085 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 10992 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 68473 | 865 | SH |  | SOLE |  | 865 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 349117 | 473 | SH |  | SOLE |  | 473 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 3218740 | 6471 | SH |  | SOLE |  | 6471 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 155112 | 2300 | SH |  | SOLE |  | 2300 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 10115 | 286 | SH |  | SOLE |  | 286 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 14057 | 59 | SH |  | SOLE |  | 59 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 27768 | 31 | SH |  | SOLE |  | 31 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 62939 | 47 | SH |  | SOLE |  | 47 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 28416 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 23467 | 340 | SH |  | SOLE |  | 340 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 528635 | 3346 | SH |  | SOLE |  | 3346 | 0 | 0 |
| NEW YORK LIFE INVESTMENTS ET | NYLI HEDGE MULTI | 45409B107 |  | 3333452 | 103139 | SH |  | SOLE |  | 103139 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 1352 | 15 | SH |  | SOLE |  | 15 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 23780 | 109 | SH |  | SOLE |  | 109 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 7427 | 75 | SH |  | SOLE |  | 75 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 3137 | 33 | SH |  | SOLE |  | 33 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 27264 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1228 | 6 | SH |  | SOLE |  | 6 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 88731 | 672 | SH |  | SOLE |  | 672 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 23829 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 83780 | 460 | SH |  | SOLE |  | 460 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 1479 | 8 | SH |  | SOLE |  | 8 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 59814 | 378 | SH |  | SOLE |  | 378 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 14405 | 54 | SH |  | SOLE |  | 54 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 9881 | 94 | SH |  | SOLE |  | 94 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 129001 | 810 | SH |  | SOLE |  | 810 | 0 | 0 |
| QUANTUMSCAPE CORP | COM CL A | 74767V109 |  | 13440 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 29350 | 201 | SH |  | SOLE |  | 201 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 4200 | 8 | SH |  | SOLE |  | 8 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 220332 | 854 | SH |  | SOLE |  | 854 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 8964 | 17 | SH |  | SOLE |  | 17 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 89988 | 330 | SH |  | SOLE |  | 330 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 2704 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 687398 | 31104 | SH |  | SOLE |  | 31104 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 142975 | 5398 | SH |  | SOLE |  | 5398 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 282529 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 37011 | 36 | SH |  | SOLE |  | 36 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 22590 | 246 | SH |  | SOLE |  | 246 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 59219 | 650 | SH |  | SOLE |  | 650 | 0 | 0 |
| SPDR SERIES TRUST | BBG CONV SEC ETF | 78464A359 |  | 1152771 | 13981 | SH |  | SOLE |  | 13981 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG EMERGI | 78464A391 |  | 152325 | 7185 | SH |  | SOLE |  | 7185 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG INTL | 78464A151 |  | 4037803 | 124430 | SH |  | SOLE |  | 124430 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG SHT TE | 78468R408 |  | 2869215 | 113950 | SH |  | SOLE |  | 113950 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG SHORT | 78464A334 |  | 223402 | 7987 | SH |  | SOLE |  | 7987 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 220236 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| SPDR INDEX SHS FDS | EURO STOXX 50 | 78463X202 |  | 3201409 | 53598 | SH |  | SOLE |  | 53598 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 8778190 | 28797 | SH |  | SOLE |  | 28797 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 24594137 | 39806 | SH |  | SOLE |  | 39806 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 20708 | 226 | SH |  | SOLE |  | 226 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 12457 | 55 | SH |  | SOLE |  | 55 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 205876 | 813 | SH |  | SOLE |  | 813 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 151206 | 476 | SH |  | SOLE |  | 476 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 8515 | 21 | SH |  | SOLE |  | 21 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 |  | 42973 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 13622 | 146 | SH |  | SOLE |  | 146 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 6781 | 9 | SH |  | SOLE |  | 9 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 24958 | 80 | SH |  | SOLE |  | 80 | 0 | 0 |
| VANECK ETF TRUST | BIOTECH ETF | 92189F726 |  | 47517 | 310 | SH |  | SOLE |  | 310 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 1371885 | 26352 | SH |  | SOLE |  | 26352 | 0 | 0 |
| VANECK ETF TRUST | OIL SERVICES ETF | 92189H607 |  | 46058 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| VANGUARD WHITEHALL FDS | EM MK GOV BD ETF | 921946885 |  | 4399878 | 68057 | SH |  | SOLE |  | 68057 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 109300 | 1626 | SH |  | SOLE |  | 1626 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 278015 | 5621 | SH |  | SOLE |  | 5621 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 633267 | 2550 | SH |  | SOLE |  | 2550 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 207297 | 1555 | SH |  | SOLE |  | 1555 | 0 | 0 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 415269 | 5406 | SH |  | SOLE |  | 5406 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 3209377 | 54004 | SH |  | SOLE |  | 54004 | 0 | 0 |
| VANGUARD BD INDEX FDS | LONG TERM BOND | 921937793 |  | 84849 | 1230 | SH |  | SOLE |  | 1230 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 545932 | 7266 | SH |  | SOLE |  | 7266 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 223864 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 148641 | 1669 | SH |  | SOLE |  | 1669 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 |  | 87220 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 3788283 | 48006 | SH |  | SOLE |  | 48006 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 175614 | 2246 | SH |  | SOLE |  | 2246 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 191805 | 2622 | SH |  | SOLE |  | 2622 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 895428 | 1350 | SH |  | SOLE |  | 1350 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 11519 | 40 | SH |  | SOLE |  | 40 | 0 | 0 |
| VERALTO CORP | COM SHS | 92338C103 |  | 12114 | 120 | SH |  | SOLE |  | 120 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 106412 | 2499 | SH |  | SOLE |  | 2499 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 10240 | 23 | SH |  | SOLE |  | 23 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 387360 | 1091 | SH |  | SOLE |  | 1091 | 0 | 0 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 150509 | 3053 | SH |  | SOLE |  | 3053 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 62188 | 636 | SH |  | SOLE |  | 636 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 19470 | 157 | SH |  | SOLE |  | 157 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 16475 | 72 | SH |  | SOLE |  | 72 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 7679 | 22 | SH |  | SOLE |  | 22 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 8857 | 85 | SH |  | SOLE |  | 85 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 50876 | 635 | SH |  | SOLE |  | 635 | 0 | 0 |
| WISDOMTREE TR | EUROPE HEDGED EQ | 97717X701 |  | 49179 | 1022 | SH |  | SOLE |  | 1022 | 0 | 0 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 36566 | 320 | SH |  | SOLE |  | 320 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 15147 | 550 | SH |  | SOLE |  | 550 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 143735 | 970 | SH |  | SOLE |  | 970 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 159627 | 1027 | SH |  | SOLE |  | 1027 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 135905 | 1628 | SH |  | SOLE |  | 1628 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 39620 | 660 | SH |  | SOLE |  | 660 | 0 | 0 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 39284 | 524 | SH |  | SOLE |  | 524 | 0 | 0 |

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