Sage Mountain Advisors LLC

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CIK 1832274

13F portfolio (2026-Q1)

$1.4B

Positions

281

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

281

Top 5

53.4%

Top 10

67.6%

Effective N

13.7

HHI

0.073

This quarter

13 new · 0 exit →

By sector

Unclassified93.8%

Information Technology2.1%

Consumer Discretionary1.7%

Financials1.3%

Communication Services0.5%

Health Care0.2%

Industrials0.2%

Real Estate0.1%

Other0.1%

By market cap

Unknown93.9%

Mega (>$200B)4.3%

Large ($10–200B)1.6%

Micro (<$300M)0.1%

Mid ($2–10B)0.1%

Small ($300M–2B)0.0%

By region

Other93.8%

North America6.2%

Asia-Pacific0.1%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	93.94%	218
Specialty Retail	0.98%	7
Semiconductors & Semiconductor Equipment	0.95%	4
Banks	0.94%	9
Technology Hardware & Equipment	0.88%	4
Automobiles & Components	0.57%	1
Software & IT Services	0.48%	3
Pharmaceuticals & Biotechnology	0.21%	5
Software	0.17%	2
Equity Real Estate Investment Trusts (REITs)	0.14%	2
Capital Markets	0.13%	3
Commercial Services & Supplies	0.08%	2
Oil, Gas & Consumable Fuels	0.07%	3
Communications Equipment	0.06%	1
Road & Rail	0.05%	1
Airlines	0.05%	1
Distributors	0.04%	2
Textiles, Apparel & Luxury Goods	0.04%	1
Machinery	0.04%	2
Utilities	0.03%	1
Media & Entertainment	0.02%	2
Aerospace & Defense	0.02%	1
Hotels, Restaurants & Leisure	0.02%	1
Chemicals	0.02%	1
Beverages	0.02%	1
Leisure Products	0.01%	1
Electrical Equipment & Components	0.01%	1
Food & Staples Retailing	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	JAAA	JANUS DETROIT STR TR	Unclassified	18.23%
2	JQUA	J P MORGAN EXCHANGE TRADED F	Unclassified	12.73%
3	VTI	VANGUARD INDEX FDS	Unclassified	9.39%
4	QUAL	ISHARES TR	Unclassified	7.75%
5	IQLT	ISHARES TR	Unclassified	5.27%
6	VOO	VANGUARD INDEX FDS	Unclassified	3.42%
7	GBDC	GOLUB CAP BDC INC	Unclassified	3.33%
8	VGIT	VANGUARD SCOTTSDALE FDS	Unclassified	2.97%
9	VEA	VANGUARD TAX-MANAGED FDS	Unclassified	2.52%
10	QUS	SPDR SERIES TRUST	Unclassified	2.02%

64/281 names classified · sector 6.2% of weight · industry 6.1% · mkt cap 6.1%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 22 quarters

Information TechnologyAAPL, MSFT, NVDA, AVGO, FTNT · other

FinancialsJPM, BRK.B, BAC, V, GS · other

Consumer DiscretionaryCPRT, AMZN, TSLA, HD, WMT · other

EnergyARLP, XOM, CVX, COP, SHEL · other

Communication ServicesGOOGL, GOOG, META, NFLX, CMCSA · other

Health CareLLY, JNJ, MRK, ABBV, DYAI · other

IndustrialsFIS, ACN, UPS, ETN, DAL · other

Consumer StaplesCVS, PEP, KO, PM, ADM · other

MaterialsPG, LIN, CHD, NKE, FCX · other

UtilitiesNEE, OKE, SO, OKLO, EPD · other

Real EstateREFI, PLD, AMT, CPT, AGNC · other

UnclassifiedQUAL, JAAA, VTI, JQUA, VOO · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 6.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 6% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (55 classified)Sage Mountain Advisors LLC centroid (Large Core)

Information TechnologyConsumer DiscretionaryFinancialsCommunication ServicesHealth CareIndustrialsReal EstateEnergyUtilitiesConsumer StaplesMaterials

Style box summary for Sage Mountain Advisors LLC: centroid Large Core. Heaviest cells: Large Growth 2.3%, Large Core 2.0%, Mid Core 0.7%.

Classified: 5.7% of book weight (55/281 names) · unclassified 94.3%: JAAA, JQUA, VTI, QUAL, IQLT, VOO, GBDC, VGIT, VEA, QUS +216 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 281 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	JAAAJANUS DETROIT STR TR	5,170,765	$260M	18.2%	ADD 3%
2	JQUAJ P MORGAN EXCHANGE TRADED F	2,967,077	$182M	12.7%	HOLD
3	VTIVANGUARD INDEX FDS	418,114	$134M	9.4%	HOLD
4	QUALISHARES TR	577,602	$111M	7.8%	ADD 3%
5	IQLTISHARES TR	1,627,732	$75M	5.3%	ADD 8%
6	VOOVANGUARD INDEX FDS	81,746	$49M	3.4%	HOLD
7	GBDCGOLUB CAP BDC INC	3,756,271	$48M	3.3%	ADD 12%
8	VGITVANGUARD SCOTTSDALE FDS	713,836	$43M	3.0%	ADD 12%
9	VEAVANGUARD TAX-MANAGED FDS	561,686	$36M	2.5%	ADD 10%
10	QUSSPDR SERIES TRUST	168,022	$29M	2.0%	HOLD
11	JMSTJ P MORGAN EXCHANGE TRADED F	546,566	$28M	2.0%	TRIM −7%
12	JMBSJANUS DETROIT STR TR	612,346	$28M	1.9%	ADD 31%
13	VXUSVANGUARD STAR FDS	206,753	$16M	1.1%	HOLD
14	VGTVANGUARD WORLD FD	19,227	$13M	0.9%	HOLD
15	SPYSTATE STR SPDR S&P 500 ETF T	18,983	$12M	0.9%	HOLD
16	VBVANGUARD INDEX FDS	44,011	$12M	0.8%	TRIM −14%
17	SPHQINVESCO EXCHANGE TRADED FD T	151,843	$11M	0.8%	HOLD
18	ITOTISHARES TR	79,649	$11M	0.8%	ADD 38%
19	VUGVANGUARD INDEX FDS	24,740	$11M	0.8%	TRIM −3%
20	AVGOBROADCOM INC	32,971	$10M	0.7%	TRIM −57%
21	QQQMINVESCO EXCH TRADED FD TR II	42,186	$10M	0.7%	HOLD
22	VGSHVANGUARD SHORT-TERM TREASURY ETF	157,323	$9M	0.6%	ADD 32%
23	JPMJPMORGAN CHASE & CO	29,725	$9M	0.6%	TRIM −43%
24	VTEBVANGUARD MUN BD FDS	170,392	$9M	0.6%	TRIM −7%
25	AAPLAPPLE INC	32,862	$8M	0.6%	TRIM −78%
26	TSLATESLA INC	21,874	$8M	0.6%	TRIM −48%
27	IVVISHARES TR	11,799	$8M	0.5%	HOLD
28	CPRTCOPART INC	226,504	$8M	0.5%	TRIM −20%
29	OMFLInvesco Russell 1000 Dynamic Multi ETF	120,800	$7M	0.5%	HOLD
30	IWFISHARES TR	16,560	$7M	0.5%	ADD 32%
31	IWBISHARES TR	19,207	$7M	0.5%	ADD 8%
32	UYLDANGEL OAK FUNDS TRUST	126,240	$6M	0.5%	HOLD
33	SCHXSCHWAB U.S. LARGE-CAP ETF	249,841	$6M	0.4%	HOLD
34	QQQINVESCO QQQ TR	10,815	$6M	0.4%	TRIM −9%
35	VTVVANGUARD INDEX FDS	29,537	$6M	0.4%	ADD 48%
36	XLGINVESCO EXCHANGE TRADED FD T	105,864	$6M	0.4%	HOLD
37	KBDCKAYNE ANDERSON BDC INC	418,062	$6M	0.4%	TRIM −48%
38	QEFASPDR INDEX SHS FDS	49,562	$5M	0.3%	HOLD
39	VOVANGUARD INDEX FDS	15,700	$5M	0.3%	TRIM −31%
40	IEFAISHARES TR	47,477	$4M	0.3%	ADD 13%
41	VONGVANGUARD SCOTTSDALE FDS	38,103	$4M	0.3%	HOLD
42	IJRISHARES TR	33,485	$4M	0.3%	HOLD
43	VEUVANGUARD INTL EQUITY INDEX F	51,903	$4M	0.3%	HOLD
44	DFLVDIMENSIONAL ETF TRUST	106,502	$4M	0.3%	NEW
45	SMHVANECK ETF TRUST	9,739	$4M	0.3%	HOLD
46	AMZNAMAZON COM INC	17,879	$4M	0.3%	TRIM −80%
47	SGOVISHARES TR	36,755	$4M	0.3%	ADD 7%
48	VONVVANGUARD SCOTTSDALE FDS	38,239	$4M	0.3%	HOLD
49	GLDMWORLD GOLD TR	37,416	$3M	0.2%	ADD 43%
50	FTNTFORTINET INC	42,300	$3M	0.2%	TRIM −38%
51	LGLVSPDR SERIES TRUST	18,958	$3M	0.2%	HOLD
52	METAMETA PLATFORMS INC	5,291	$3M	0.2%	TRIM −73%
53	IAUISHARES GOLD TR	32,753	$3M	0.2%	HOLD
54	BRK.BBERKSHIRE HATHAWAY INC DEL	5,617	$3M	0.2%	TRIM −70%
55	DFACDIMENSIONAL ETF TRUST	64,523	$3M	0.2%	HOLD
56	SCHGSCHWAB U.S. LARGE-CAP GROWTH ETF	86,053	$3M	0.2%	HOLD
57	VBRVANGUARD INDEX FDS	10,786	$2M	0.2%	HOLD
58	DFIVDIMENSIONAL ETF TRUST	44,203	$2M	0.2%	ADD 1228%
59	GOOGLALPHABET INC	7,977	$2M	0.2%	TRIM −86%
60	MSFTMICROSOFT CORP	6,021	$2M	0.2%	TRIM −91%
61	BRK.ABERKSHIRE HATHAWAY INC DEL	3	$2M	0.2%	HOLD
62	SPDWSPDR INDEX SHS FDS	47,171	$2M	0.2%	HOLD
63	VVVANGUARD INDEX FDS	7,192	$2M	0.2%	HOLD
64	EFAISHARES TR	21,487	$2M	0.1%	HOLD
65	LIENCHICAGO ATLANTIC BDC INC	215,576	$2M	0.1%	TRIM −20%
66	DFSVDIMENSIONAL ETF TRUST	53,769	$2M	0.1%	NEW
67	IWDISHARES TR	8,321	$2M	0.1%	ADD 14%
68	CIBRFIRST TR EXCHANGE-TRADED FD	28,312	$2M	0.1%	TRIM −10%
69	IDEVISHARES TR	20,686	$2M	0.1%	HOLD
70	VBKVANGUARD INDEX FDS	5,718	$2M	0.1%	HOLD
71	SHMSPDR SERIES TRUST	34,816	$2M	0.1%	ADD 563%
72	INTFISHARES TR	42,634	$2M	0.1%	HOLD
73	VBILVANGUARD INSTL INDEX FD	21,768	$2M	0.1%	ADD 2%
74	NVDANVIDIA CORPORATION	9,363	$2M	0.1%	TRIM −95%
75	ESGUISHARES TR	11,476	$2M	0.1%	HOLD
76	TBILRBB FD INC	32,203	$2M	0.1%	HOLD
77	GOOGALPHABET INC	5,254	$2M	0.1%	TRIM −87%
78	SMMVISHARES TR	33,080	$1M	0.1%	HOLD
79	IWRISHARES TR	14,756	$1M	0.1%	HOLD
80	TSMTAIWAN SEMICONDUCTOR MFG LTD	4,048	$1M	0.1%	TRIM −52%
81	IVWISHARES TR	11,908	$1M	0.1%	ADD 16%
82	IBITISHARES BITCOIN TRUST ETF	34,539	$1M	0.1%	HOLD
83	SDYSPDR SER TR	8,985	$1M	0.1%	HOLD
84	BMNRBITMINE IMMERSION TECNOLOGIE	65,229	$1M	0.1%	ADD 128%
85	GLDSPDR GOLD TR	2,994	$1M	0.1%	HOLD
86	AGGISHARES TR	12,325	$1M	0.1%	ADD 6%
87	RYROYAL BK CDA	7,530	$1M	0.1%	TRIM −3%
88	WMTWALMART INC	9,494	$1M	0.1%	TRIM −77%
89	IWVISHARES TR	3,053	$1M	0.1%	HOLD
90	REFICHICAGO ATLANTIC REAL ESTATE	98,730	$1M	0.1%	TRIM −19%
91	ACWIISHARES TR	7,820	$1M	0.1%	HOLD
92	LLYELI LILLY & CO	1,086	$998,870	0.1%	TRIM −85%
93	USMVISHARES TR	10,752	$997,128	0.1%	ADD 9%
94	MRKMERCK & CO INC	8,218	$988,543	0.1%	TRIM −72%
95	MSTRSTRATEGY INC	7,787	$971,818	0.1%	ADD 30%
96	VVISA INC	3,190	$964,109	0.1%	TRIM −81%
97	VIGVANGUARD SPECIALIZED FUNDS	4,424	$951,425	0.1%	TRIM −60%
98	AGNCAGNC Investment Corp	94,702	$949,861	0.1%	HOLD
99	SPLVINVESCO EXCH TRADED FD TR II	12,635	$924,124	0.1%	HOLD
100	IWMISHARES TR	3,703	$918,301	0.1%	TRIM −5%
101	VTVANGUARD INTL EQUITY INDEX F	6,298	$871,104	0.1%	HOLD
102	TPLTEXAS PACIFIC LAND CORPORATI	1,824	$865,597	0.1%	ADD 30%
103	QCOMQUALCOMM INC	6,673	$859,349	0.1%	TRIM −26%
104	XVVISHARES TR	17,386	$855,739	0.1%	ADD 2%
105	PAVEGLOBAL X FDS	16,793	$853,252	0.1%	HOLD
106	CARYANGEL OAK FUNDS TRUST	40,258	$836,275	0.1%	HOLD
107	JBBBJANUS DETROIT STR TR	17,515	$816,273	0.1%	TRIM −39%
108	GNRSPDR INDEX SHS FDS	10,516	$785,230	0.1%	TRIM −21%
109	HEFAISHARES CURRENCY HEDGED MSCI EAFE ETF	17,361	$737,756	0.1%	TRIM −24%
110	MDYSPDR S&P MIDCAP 400 ETF TR	1,190	$733,944	0.1%	HOLD
111	SPMDSPDR SERIES TRUST	12,313	$729,176	0.1%	HOLD
112	UPSUNITED PARCEL SERVICE INC	7,380	$726,088	0.1%	TRIM −9%
113	FVFIRST TR EXCHANGE TRADED FD	11,927	$720,838	0.1%	HOLD
114	JNJJOHNSON & JOHNSON	2,933	$716,943	0.1%	TRIM −86%
115	DALDELTA AIR LINES INC	10,737	$713,796	0.0%	TRIM −41%
116	SCHFSCHWAB STRATEGIC TR	28,293	$700,252	0.0%	HOLD
117	BXBLACKSTONE INC	6,086	$699,793	0.0%	TRIM −41%
118	FTECFIDELITY COVINGTON TRUST	3,217	$669,380	0.0%	HOLD
119	MAGSLISTED FDS TR	11,338	$656,924	0.0%	ADD 86%
120	IGSBISHARES TR	12,146	$638,394	0.0%	NEW
121	VYMVANGUARD WHITEHALL FDS	4,180	$619,058	0.0%	HOLD
122	LULULULULEMON ATHLETICA INC	4,031	$617,146	0.0%	TRIM −26%
123	BILSPDR SERIES TRUST	6,727	$616,462	0.0%	TRIM −69%
124	XLESELECT SECTOR SPDR TR	10,005	$612,901	0.0%	ADD 5%
125	VXFVANGUARD INDEX FDS	2,854	$587,351	0.0%	TRIM −36%
126	ETHAISHARES ETHEREUM TR	36,169	$572,555	0.0%	HOLD
127	SCHVSCHWAB STRATEGIC TR	18,754	$571,998	0.0%	HOLD
128	SSOPROSHARES TR	10,904	$565,700	0.0%	HOLD
129	COSTCOSTCO WHSL CORP NEW	560	$558,001	0.0%	TRIM −81%
130	FVDFIRST TR EXCHANGE-TRADED FD	11,744	$552,320	0.0%	HOLD
131	AZOAUTOZONE INC	162	$547,200	0.0%	TRIM −32%
132	EFAVISHARES TR	5,854	$534,880	0.0%	HOLD
133	IEMGISHARES INC	7,612	$530,962	0.0%	HOLD
134	CSCOCISCO SYS INC	6,540	$507,451	0.0%	TRIM −85%
135	IVEISHARES TR	2,362	$498,732	0.0%	HOLD
136	MUBISHARES TR	4,670	$495,721	0.0%	HOLD
137	HYDVANECK ETF TRUST	9,512	$476,932	0.0%	TRIM −40%
138	VTWOVANGUARD SCOTTSDALE FDS	4,722	$473,003	0.0%	HOLD
139	OKEONEOK INC NEW	5,201	$470,118	0.0%	TRIM −34%
140	RSPINVESCO EXCHANGE TRADED FD T	2,445	$469,244	0.0%	TRIM −83%
141	SPYGSPDR SERIES TRUST STATE STREET SPD	4,788	$468,793	0.0%	HOLD
142	IWPISHARES TR	3,564	$456,628	0.0%	HOLD
143	ESGDISHARES TR	4,597	$439,565	0.0%	HOLD
144	IFRAISHARES U.S. INFRASTRUCTURE ETF	7,682	$439,396	0.0%	HOLD
145	IXUSISHARES TR	5,056	$438,052	0.0%	ADD 19%
146	SPYVSPDR SERIES TRUST	7,660	$433,403	0.0%	HOLD
147	DFAXDIMENSIONAL ETF TRUST	12,189	$414,060	0.0%	HOLD
148	XOMEXXON MOBIL CORP	2,435	$413,122	0.0%	TRIM −95%
149	GWWWW GRAINGER INC	368	$401,418	0.0%	TRIM −43%
150	EFVISHARES TR	5,199	$386,546	0.0%	HOLD
151	MGKVanguard Mega Cap Growth ETF	1,016	$373,319	0.0%	TRIM −70%
152	FOCLEDAP TMS S A	100,000	$372,000	0.0%	HOLD
153	IVOOVanguard S&P Mid-Cap 400 Index Fund - ETF	3,226	$368,796	0.0%	HOLD
154	VWOVANGUARD INTL EQUITY INDEX F	6,472	$349,812	0.0%	ADD 4%
155	BACBANK AMERICA CORP	7,141	$348,124	0.0%	TRIM −95%
156	SLBSCHLUMBERGER LTD	6,749	$346,831	0.0%	TRIM −47%
157	FIGRFIGURE TECHNOLOGY SOLUTIO	10,001	$339,534	0.0%	NEW
158	CATCATERPILLAR INC	479	$339,352	0.0%	TRIM −86%
159	FBTCFIDELITY WISE ORIGIN BITCOIN	5,481	$323,543	0.0%	HOLD
160	XSLVINVESCO EXCH TRADED FD TR II	6,750	$318,570	0.0%	HOLD
161	SPGMSPDR INDEX SHS FDS	4,081	$308,973	0.0%	HOLD
162	HONHONEYWELL INTL INC	1,339	$302,654	0.0%	TRIM −75%
163	NFLXNETFLIX INC	3,127	$300,644	0.0%	TRIM −91%
164	SOXXISHARES TR	913	$300,146	0.0%	HOLD
165	BTCGRAYSCALE BITCOIN MINI TR ET	9,983	$299,390	0.0%	HOLD
166	VTEIVANGUARD MUN BD FDS	2,984	$298,221	0.0%	HOLD
167	INTCINTEL CORP	6,751	$297,922	0.0%	TRIM −73%
168	CVXCHEVRON CORP NEW	1,425	$294,827	0.0%	TRIM −91%
169	VOTETCW ETF TRUST	3,691	$281,623	0.0%	HOLD
170	BMIBADGER METER INC	1,825	$278,039	0.0%	ADD 20%
171	VIOOVANGUARD ADMIRAL FDS INC	2,408	$276,511	0.0%	HOLD
172	HLTHILTON WORLDWIDE HLDGS INC	900	$273,672	0.0%	TRIM −66%
173	GSGOLDMAN SACHS GROUP INC	323	$273,255	0.0%	TRIM −86%
174	IWSISHARES TR	1,842	$268,453	0.0%	HOLD
175	ESGEISHARES INC	5,876	$267,182	0.0%	HOLD
176	HSCZISHARES TR	6,591	$261,498	0.0%	TRIM −35%
177	CWISPDR INDEX SHS FDS	7,067	$258,582	0.0%	HOLD
178	HYGISHARES TR	3,247	$258,331	0.0%	HOLD
179	IYWISHARES TR	1,412	$256,165	0.0%	HOLD
180	ADBEADOBE INC	1,050	$255,234	0.0%	TRIM −48%
181	BLCVBLACKROCK ETF TRUST	6,897	$249,087	0.0%	NEW
182	NOBLPROSHARES TR	2,332	$247,215	0.0%	HOLD
183	ETNEATON CORP PLC	688	$246,077	0.0%	TRIM −93%
184	NKENIKE INC	4,629	$244,504	0.0%	TRIM −59%
185	AMGNAMGEN INC	673	$236,795	0.0%	TRIM −87%
186	IUSGISHARES TR	1,509	$234,061	0.0%	HOLD
187	TELTE CONNECTIVITY PLC	1,099	$229,661	0.0%	NEW
188	LOWLOWES COS INC	959	$226,593	0.0%	TRIM −85%
189	TJXTJX COS INC NEW	1,362	$217,511	0.0%	TRIM −85%
190	AXPAMERICAN EXPRESS CO	717	$216,878	0.0%	TRIM −88%
191	KOCOCA COLA CO	2,827	$214,993	0.0%	TRIM −90%
192	FTLSFIRST TR EXCH TRADED FD III	3,040	$213,894	0.0%	HOLD
193	SUBISHARES TR	2,000	$213,000	0.0%	HOLD
194	NUSCNUSHARES ETF TR	4,725	$212,909	0.0%	HOLD
195	YETIYETI HLDGS INC	5,809	$212,551	0.0%	HOLD
196	PYPLPAYPAL HLDGS INC	4,697	$212,445	0.0%	NEW
197	XLFSELECT SECTOR SPDR TR	4,294	$211,995	0.0%	HOLD
198	TFCTRUIST FINL CORP	4,579	$210,497	0.0%	TRIM −66%
199	EMREMERSON ELEC CO	1,593	$208,715	0.0%	TRIM −34%
200	SPYMSPDR SERIES TRUST	2,652	$202,984	0.0%	HOLD

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

JAAAJANUS DETROIT STR TR

4.1M

4.2M

3.9M

3.7M

5.0M

5.2M

$260M

JQUAJ P MORGAN EXCHANGE TRADED F

2.4M

2.5M

2.7M

2.9M

3.0M

$182M

VTIVANGUARD INDEX FDS

378K

397K

400K

414K

417K

418K

$134M

QUALISHARES TR

588K

558K

576K

583K

562K

578K

$111M

IQLTISHARES TR

1.2M

1.4M

1.5M

1.6M

$75M

VOOVANGUARD INDEX FDS

86K

83K

82K

83K

82K

$49M

GBDCGOLUB CAP BDC INC

2.5M

2.7M

3.0M

3.4M

3.8M

$48M

VGITVANGUARD SCOTTSDALE FDS

219K

268K

374K

571K

640K

714K

$43M

VEAVANGUARD TAX-MANAGED FDS

459K

424K

466K

490K

512K

562K

$36M

QUSSPDR SERIES TRUST

191K

187K

171K

170K

168K

$29M

JMSTJ P MORGAN EXCHANGE TRADED F

—

590K

547K

$28M

JMBSJANUS DETROIT STR TR

285K

348K

391K

447K

468K

612K

$28M

VXUSVANGUARD STAR FDS

217K

212K

215K

217K

204K

207K

$16M

VGTVANGUARD WORLD FD

19K

$13M

SPYSTATE STR SPDR S&P 500 ETF T

26K

18K

17K

19K

$12M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Sage Mountain Advisors LLC