FOR

Family Office Research Portfolio holdings

AUM $205M

AUM

$205M

AUM Growth

-$22.8M (-10%)

Cap. Flow

-$3.57M

Cap. Flow % of AUM

-1.74%

Top 10 Holdings %Top 10 Hldgs %

74.71%

Holding

New

Increased

Reduced

Closed

Top Buys

1	Vanguard S&P 500 ETF VOO	$1.48M
2	Avantis US Equity ETF AVUS	$1.41M
3	iMGP DBi Managed Futures Strategy ETF DBMF	$633K
4	Janus Henderson AAA CLO ETF JAAA	$482K
5	Dimensional US Core Equity 2 ETF DFAC	$391K

Top Sells

1	US Treasury 3 Month Bill ETF TBIL	$2.54M
2	Marriot International MAR	$2.07M
3	CareDx CDNA	$1.24M
4	iShares US Small Cap Equity Factor ETF SMLF	$563K
5	Dimensional US Core Equity Market ETF DFAU	$419K

Sector Composition

1	Consumer Discretionary	25.35%
2	Industrials	3.77%
3	Technology	1.98%
4	Financials	0.6%
5	Communication Services	0.6%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 Marriot International MAR $69.8B	$49.4M	24.08%	207,578 -8,699	-4%	-$2.07M
2	2 Vanguard S&P 500 ETF VOO $665B	$20.4M	9.94%	39,698 +2,873	+8%	+$1.48M
3	3 US Treasury 3 Month Bill ETF TBIL $5.84B	$19M	9.26%	380,317 -50,833	-12%	-$2.54M
4	4 VanEck Morningstar Wide Moat ETF MOAT $12.9B	$12.9M	6.3%	147,004 +2,098	+1%	+$185K
5	5 iShares US Small Cap Equity Factor ETF SMLF $1.7B	$12.1M	5.87%	193,941 -9,056	-4%	-$563K
6	6 Dimensional US Core Equity 2 ETF DFAC $33.3B	$11.9M	5.82%	362,147 +11,861	+3%	+$391K
7	7 Invesco QQQ Trust QQQ $339B	$9.4M	4.58%	20,055 +86	+0.4%	+$40.3K
8	8 Avantis US Equity ETF AVUS $8.37B	$8.96M	4.36%	96,989 +15,240	+19%	+$1.41M
9	9 Delta Air Lines DAL $30.7B	$4.77M	2.32%	109,354	–	–
10	10 Dimensional International Core Equity 2 ETF DFIC $9.35B	$4.46M	2.17%	160,478 -10,198	-6%	-$283K
11	11 Avantis International Equity ETF AVDE $7.14B	$3.14M	1.53%	47,337 +76	+0.2%	+$5.04K
12	12 Dimensional Emerging Markets Core Equity 2 ETF DFEM $5.32B	$3.08M	1.5%	116,213 -12,330	-10%	-$326K
13	13 iShares Russell 3000 ETF IWV $15.3B	$2.94M	1.43%	9,261 -1,159	-11%	-$368K
14	14 RTX Corp RTX $195B	$2.7M	1.31%	20,351 +1	+0%	+$132
15	15 Janus Henderson AAA CLO ETF JAAA $20.9B	$2.68M	1.3%	52,796 +9,507	+22%	+$482K
16	16 VanEck Morningstar SMID Moat ETF SMOT $375M	$2.63M	1.28%	80,189 -4,764	-6%	-$156K
17	17 Avantis US Small Cap Equity ETF AVSC $1.53B	$2.63M	1.28%	54,297 -2,544	-4%	-$123K
18	18 Avantis Emerging Markets Equity ETF AVEM $10.2B	$2.29M	1.11%	38,018 -18	-0.1%	-$1.08K
19	19 Apple AAPL $2.93T	$2.28M	1.11%	10,249 -826	-7%	-$183K
20	20 iShares Core S&P Small-Cap ETF IJR $77.4B	$2.03M	0.99%	19,447 +445	+2%	+$46.5K
21	21 iShares Core S&P 500 ETF IVV $589B	$1.33M	0.65%	2,370 -300	-11%	-$169K
22	22 Global X Internet of Things ETF SNSR $221M	$1.28M	0.62%	38,858 -3,400	-8%	-$112K
23	23 Marriott Vacations Worldwide VAC $2.24B	$1.22M	0.59%	18,984 +28	+0.2%	+$1.8K
24	24 SPDR S&P 500 ETF Trust SPY $632B	$1.16M	0.56%	2,068 +7	+0.3%	+$3.92K
25	25 Amazon AMZN $2.25T	$980K	0.48%	5,151 -1,112	-18%	-$212K