Merit Financial Group, LLC

13F filer, CIK 1621225, ALPHARETTA, GA

Merit Financial Group, LLC reported $10,886,360,246 across 1,791 holdings for the quarter ended 2025-09-30, in a 13F-HR/A filed 2025-11-07. Its ten largest share positions make up 20.43% of the portfolio.

Filed 2025-11-07 (acceptance time not in the bulk data set), ingested 2026-10-07 03:02:25 UTC13F-HR/A 0001621225-25-000008

Period: 2025-09-30
Reported value: $10.9B
Holdings: 1,791
Top 10 weight: 20.43%
New: 179
Sold out: 87

Largest buys vs the previous quarter

Security	Shares change	Approx. value
USTBadded	+2,389,445	$122M
UBNDnew	+5,472,002	$121M
CWIadded	+2,519,140	$88M
CGUSadded	+1,985,435	$78.5M
MGKadded	+181,132	$72.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
ACWXreduced	-2,229,940	-$145M
SPTSreduced	-4,730,310	-$139M
EFGreduced	-398,058	-$45.3M
VGSHreduced	-555,054	-$32.7M
IYWreduced	-135,034	-$26.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR/A 0001621225-25-000008, largest first. % of portfolio is the value over $10,878,123,962, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
HELOJ P MORGAN EXCHANGE TRADED F	4,234	$275K	<0.01%	-394	Timeline
LOPEGRAND CANYON ED INC	1,252	$275K	<0.01%	-83	Timeline
URBNURBAN OUTFITTERS INC	3,845	$275K	<0.01%	-98	Timeline
QQQXNUVEEN NASDAQ 100 DYNAMIC OV	10,001	$275K	<0.01%	-1,134	Timeline
DFEMDIMENSIONAL ETF TRUST	8,553	$274K	<0.01%	+39	Timeline
EPIWISDOMTREE TR	6,199	$274K	<0.01%	-15,813	Timeline
TMHCTAYLOR MORRISON HOME CORP	4,138	$273K	<0.01%	new	Timeline
MMUWESTERN ASSET MANAGED MUNS F	26,334	$272K	<0.01%	-215	Timeline
BIOBIO RAD LABS INC	970	$272K	<0.01%	-12	Timeline
SIGISELECTIVE INS GROUP INC	3,345	$271K	<0.01%	+129	Timeline
LBTYALIBERTY GLOBAL LTD	23,655	$271K	<0.01%	new	Timeline
LWLAMB WESTON HLDGS INC	4,662	$271K	<0.01%	new	Timeline
TCBITEXAS CAP BANCSHARES INC	3,188	$269K	<0.01%	new	Timeline
NADNUVEEN QUALITY MUNCP INCOME	22,977	$269K	<0.01%	-1,520	Timeline
TDYTELEDYNE TECHNOLOGIES INC	458	$268K	<0.01%	+25	Timeline
AGIALAMOS GOLD INC	7,619	$266K	<0.01%	new	Timeline
ARGXARGENX SE	360	$266K	<0.01%	new	Timeline
BSTZBLACKROCK SCIENCE & TECHNOLO	11,938	$265K	<0.01%	+847	Timeline
ENTGENTEGRIS INC	2,860	$264K	<0.01%	-504	Timeline
RYNRAYONIER INC	9,954	$264K	<0.01%	new	Timeline
SAUGFIRST TR EXCHNG TRADED FD VI	10,529	$264K	<0.01%	new	Timeline
FNBF N B CORP	16,327	$263K	<0.01%	+2,361	Timeline
TRGPTARGA RES CORP	1,568	$263K	<0.01%	+333	Timeline
OKLOOKLO INC	2,351	$262K	<0.01%	new	Timeline
GGNGAMCO GLOBAL GOLD NAT RES &	50,791	$262K	<0.01%	+21,634	Timeline
XBOEXBLACKROCK ENHANCED GLOBAL	22,608	$262K	<0.01%	+23	Timeline
IBTIISHARES TR	11,628	$260K	<0.01%	+706	Timeline
PFEBINNOVATOR ETFS TRUST	6,529	$259K	<0.01%	0	Timeline
ONEQFIDELITY COMWLTH TR	2,906	$259K	<0.01%	+154	Timeline
SHOOMADDEN STEVEN LTD	7,726	$259K	<0.01%	new	Timeline
CRBGCOREBRIDGE FINL INC	8,050	$258K	<0.01%	-2,389	Timeline
ODFLOLD DOMINION FREIGHT LINE IN	1,820	$256K	<0.01%	-437	Timeline
SWKSTANLEY BLACK & DECKER INC	3,426	$255K	<0.01%	+45	Timeline
HACKAMPLIFY ETF TR	2,926	$254K	<0.01%	+160	Timeline
BNBROOKFIELD CORP	3,700	$254K	<0.01%	-878	Timeline
AXAXOS FINANCIAL INC	2,976	$252K	<0.01%	+95	Timeline
IDTIDT CORP	4,789	$251K	<0.01%	+102	Timeline
ORCORCHID IS CAP INC	35,735	$251K	<0.01%	+4,607	Timeline
NZFNUVEEN MUN CR INCOME FD	19,875	$250K	<0.01%	-4,598	Timeline
BGBUNGE GLOBAL SA	3,069	$249K	<0.01%	-3,430	Timeline
HLNEHAMILTON LANE INC	1,842	$248K	<0.01%	+17	Timeline
JLLJONES LANG LASALLE INC	832	$248K	<0.01%	new	Timeline
RSPMINVESCO EXCHANGE TRADED FD T	7,510	$246K	<0.01%	+31	Timeline
QTECFIRST TR EXCHANGE-TRADED FD	1,071	$246K	<0.01%	-198	Timeline
CPSMCALAMOS ETF TR	8,665	$245K	<0.01%	0	Timeline
PRFZINVESCO EXCHANGE TRADED FD T	5,390	$245K	<0.01%	0	Timeline
BLACKROCK MUNICIPAL INCOME …BLACKROCK MUNICIPAL INCOME QUA	22,307	$244K	<0.01%	0
FDNFIRST TR EXCHANGE-TRADED FD	870	$243K	<0.01%	-309	Timeline
HHHHOWARD HUGHES HOLDINGS INC	2,962	$243K	<0.01%	new	Timeline
AWRAMER STATES WTR CO	3,308	$243K	<0.01%	new	Timeline
LULULULULEMON ATHLETICA INC	1,363	$242K	<0.01%	-1,176	Timeline
BEBLOOM ENERGY CORP	2,864	$242K	<0.01%	new	Timeline
CNKCINEMARK HLDGS INC	8,640	$242K	<0.01%	-497	Timeline
RDIVINVESCO EXCH TRADED FD TR II	4,642	$242K	<0.01%	new	Timeline
MUFGMITSUBISHI UFJ FINANCIAL GRO	15,154	$242K	<0.01%	+1,947	Timeline
HXLHEXCEL CORP NEW	3,852	$242K	<0.01%	-410	Timeline
HALOHALOZYME THERAPEUTICS INC	3,289	$241K	<0.01%	new	Timeline
SEIESEI EXCHANGE TRADED FUNDS	7,906	$241K	<0.01%	+106	Timeline
WIXWIX COM LTD	1,352	$240K	<0.01%	new	Timeline
OWNSQUAKER INVT TR	13,799	$240K	<0.01%	new	Timeline
DUHPDIMENSIONAL ETF TRUST	6,317	$239K	<0.01%	+3	Timeline
GHYPGIM GLOBAL HIGH YIELD FD FO	18,502	$238K	<0.01%	-540	Timeline
PDTHANCOCK JOHN PREM DIVID FD	17,848	$238K	<0.01%	+121	Timeline
RYAAYRYANAIR HOLDINGS PLC	3,942	$237K	<0.01%	-4	Timeline
ANGLVANECK ETF TRUST	7,983	$237K	<0.01%	-1,311	Timeline
IBDXISHARES TR	9,261	$237K	<0.01%	new	Timeline
HDEFDBX ETF TR	8,061	$237K	<0.01%	-970	Timeline
KTBKONTOOR BRANDS INC	2,968	$237K	<0.01%	new	Timeline
DGCBDIMENSIONAL ETF TRUST	4,262	$236K	<0.01%	-1	Timeline
XOPSPDR SERIES TRUST	1,785	$236K	<0.01%	-5,762	Timeline
KBRKBR INC	4,955	$234K	<0.01%	+337	Timeline
SHGSHINHAN FINANCIAL GROUP CO L	4,640	$234K	<0.01%	new	Timeline
BLDRBUILDERS FIRSTSOURCE INC	1,921	$233K	<0.01%	+63	Timeline
BKHBLACK HILLS CORP	3,771	$232K	<0.01%	new	Timeline
EMNEASTMAN CHEM CO	3,680	$232K	<0.01%	-309	Timeline
ICFIICF INTL INC	2,499	$232K	<0.01%	new	Timeline
AVAVAEROVIRONMENT INC	734	$231K	<0.01%	new	Timeline
MTDRMATADOR RES CO	5,136	$231K	<0.01%	+174	Timeline
LEALEAR CORP	2,290	$230K	<0.01%	new	Timeline
XJQCXNUVEEN CR STRATEGIES INCOME	43,710	$230K	<0.01%	-3,253	Timeline
SLFSUN LIFE FINANCIAL INC.	3,833	$230K	<0.01%	+150	Timeline
VALEVALE S A	21,133	$230K	<0.01%	+281	Timeline
CMACOMERICA INC	3,349	$229K	<0.01%	new	Timeline
SPXCSPX TECHNOLOGIES INC	1,225	$229K	<0.01%	new	Timeline
XMLVINVESCO EXCH TRADED FD TR II	3,593	$228K	<0.01%	+3	Timeline
MTSIMACOM TECH SOLUTIONS HLDGS I	1,834	$228K	<0.01%	+68	Timeline
PLABPHOTRONICS INC	9,920	$228K	<0.01%	new	Timeline
WYWEYERHAEUSER CO	9,182	$228K	<0.01%	-834	Timeline
CGHMCAPITAL GRP FIXED INCM ETF T	8,985	$227K	<0.01%	new	Timeline
TREXTREX INC	4,390	$227K	<0.01%	new	Timeline
CRSCARPENTER TECHNOLOGY CORP	922	$226K	<0.01%	new	Timeline
VOYAVOYA FINANCIAL INC	3,026	$226K	<0.01%	new	Timeline
PGCPEAPACK-GLADSTONE FINL CORP	8,199	$226K	<0.01%	new	Timeline
FJUNFIRST TR EXCHNG TRADED FD VI	4,042	$226K	<0.01%	-767	Timeline
UPSTUPSTART HLDGS INC	4,446	$226K	<0.01%	+87	Timeline
IGLDFIRST TR EXCHANGE-TRADED FD	9,420	$226K	<0.01%	new	Timeline
ROADCONSTRUCTION PARTNERS INC	1,773	$225K	<0.01%	-142	Timeline
NVRNVR INC	28	$225K	<0.01%	new	Timeline
FTREFORTREA HLDGS INC	26,693	$225K	<0.01%	-5,016	Timeline
FBNDFIDELITY MERRIMACK STR TR	4,844	$224K	<0.01%	new	Timeline
BHCBAUSCH HEALTH COS INC	34,673	$224K	<0.01%	+94	Timeline
MSMLISHARES TR	3,525	$224K	<0.01%	+3	Timeline
RQICOHEN & STEERS QUALITY INCOM	17,908	$223K	<0.01%	-4,378	Timeline
IDAIDACORP INC	1,687	$223K	<0.01%	new	Timeline
HDBHDFC BANK LTD	6,520	$223K	<0.01%	+2,708	Timeline
AAPADVANCE AUTO PARTS INC	3,625	$223K	<0.01%	new	Timeline
QEFASPDR INDEX SHS FDS	2,512	$221K	<0.01%	+30	Timeline
IGHGPROSHARES TR	2,794	$221K	<0.01%	-2,451	Timeline
PRIPRIMERICA INC	794	$220K	<0.01%	new	Timeline
GTLSCHART INDS INC	1,101	$220K	<0.01%	-147	Timeline
DFSDDIMENSIONAL ETF TRUST	4,571	$220K	<0.01%	-284	Timeline
TOSTTOAST INC	6,030	$220K	<0.01%	-1,951	Timeline
PENPENUMBRA INC	867	$220K	<0.01%	-785	Timeline
DKDELEK US HLDGS INC NEW	6,797	$219K	<0.01%	new	Timeline
XPOXPO INC	1,694	$219K	<0.01%	-102	Timeline
HRLHORMEL FOODS CORP	8,844	$219K	<0.01%	-9,527	Timeline
BTZBLACKROCK CR ALLOCATION	19,799	$219K	<0.01%	-185	Timeline
TFISPDR SERIES TRUST	4,789	$218K	<0.01%	-259	Timeline
YSEPFIRST TR EXCHNG TRADED FD VI	8,550	$218K	<0.01%	new	Timeline
RDNRADIAN GROUP INC	6,017	$218K	<0.01%	new	Timeline
MIDDMIDDLEBY CORP	1,638	$218K	<0.01%	-41	Timeline
FEMSFIRST TR EXCH TRD ALPHDX FD	4,918	$217K	<0.01%	-185	Timeline
AMHAMERICAN HOMES 4 RENT	6,503	$216K	<0.01%	+552	Timeline
AGMFEDERAL AGRIC MTG CORP	1,287	$216K	<0.01%	+85	Timeline
APAMARTISAN PARTNERS ASSET MGMT	4,982	$216K	<0.01%	+361	Timeline
AMXAMERICA MOVIL SAB DE CV	10,269	$216K	<0.01%	-3	Timeline
CVSACOVISTA INC	1,395	$215K	<0.01%	new	Timeline
NPFDNUVEEN VRIABL RAT PFD & INM	10,777	$215K	<0.01%	+288	Timeline
OROR ROYALTIES INC.	5,365	$215K	<0.01%	new	Timeline
KNTKKINETIK HOLDINGS INC	5,022	$215K	<0.01%	+104	Timeline
FCFFIRST COMWLTH FINL CORP PA	12,587	$215K	<0.01%	+396	Timeline
HAYWHAYWARD HLDGS INC	14,171	$214K	<0.01%	+1,876	Timeline
RPMRPM INTL INC	1,817	$214K	<0.01%	new	Timeline
SEESEALED AIR CORP NEW	6,057	$214K	<0.01%	-490	Timeline
APIETRUST FOR PROFESSIONAL MANAG	6,020	$214K	<0.01%	-32,868	Timeline
IEFISHARES TR	2,215	$214K	<0.01%	new	Timeline
QLYSQUALYS INC	1,614	$214K	<0.01%	+213	Timeline
KOFCOCA-COLA FEMSA SAB DE CV	2,566	$213K	<0.01%	-3	Timeline
GCCWISDOMTREE TR	9,952	$213K	<0.01%	-179	Timeline
CGCARLYLE GROUP INC	3,395	$213K	<0.01%	-851	Timeline
FRELFIDELITY COVINGTON TRUST	7,649	$213K	<0.01%	+87	Timeline
WLFCWILLIS LEASE FIN CORP	1,547	$212K	<0.01%	new	Timeline
AVAAVISTA CORP	5,595	$212K	<0.01%	new	Timeline
YOUCLEAR SECURE INC	6,326	$211K	<0.01%	new	Timeline
CBOJCALAMOS ETF TR	8,077	$211K	<0.01%	0	Timeline
RBCRBC BEARINGS INC	540	$211K	<0.01%	new	Timeline
FHBFIRST HAWAIIAN INC	8,472	$210K	<0.01%	new	Timeline
NOGNORTHERN OIL & GAS INC	8,481	$210K	<0.01%	-73	Timeline
HMCHONDA MOTOR CO LTD	6,796	$209K	<0.01%	new	Timeline
SNNSMITH & NEPHEW PLC	5,763	$209K	<0.01%	new	Timeline
HOMBHOME BANCSHARES INC	7,367	$208K	<0.01%	new	Timeline
COKECOCA COLA CONS INC	1,776	$208K	<0.01%	new	Timeline
AMGAFFILIATED MANAGERS GROUP	873	$208K	<0.01%	new	Timeline
CPACOPA HOLDINGS SA	1,750	$208K	<0.01%	new	Timeline
ACMAECOM	1,593	$208K	<0.01%	new	Timeline
PDECINNOVATOR ETFS TRUST	4,909	$206K	<0.01%	new	Timeline
STSENSATA TECHNOLOGIES HLDG PL	6,751	$206K	<0.01%	-1,115	Timeline
CIONCION INVT CORP	21,754	$206K	<0.01%	+2,861	Timeline
FESMFIDELITY COVINGTON TRUST	5,637	$206K	<0.01%	new	Timeline
XBISPDR SERIES TRUST	2,055	$206K	<0.01%	-394	Timeline
ESIELEMENT SOLUTIONS INC	8,128	$205K	<0.01%	-962	Timeline
STOTSSGA ACTIVE TR	4,317	$205K	<0.01%	+48	Timeline
SGISOMNIGROUP INTERNATIONAL INC	2,414	$204K	<0.01%	new	Timeline
BKCHGLOBAL X FDS	2,359	$204K	<0.01%	new	Timeline
HOLXHOLOGIC INC	3,001	$203K	<0.01%	-85	Timeline
MTRNMATERION CORP	1,676	$202K	<0.01%	new	Timeline
GSUSGOLDMAN SACHS ETF TR	2,186	$202K	<0.01%	new	Timeline
GATXGATX CORP	1,152	$201K	<0.01%	-330	Timeline
MGAMAGNA INTL INC	4,247	$201K	<0.01%	new	Timeline
GRNYTIDAL TRUST I	8,043	$201K	<0.01%	new	Timeline
WTMWHITE MTNS INS GROUP LTD	120	$201K	<0.01%	-2	Timeline
AGOASSURED GUARANTY LTD	2,368	$200K	<0.01%	new	Timeline
HWCHANCOCK WHITNEY CORPORATION	3,199	$200K	<0.01%	new	Timeline
COHRCOHERENT CORP	1,859	$200K	<0.01%	-1,837	Timeline
HQYHEALTHEQUITY INC	2,112	$200K	<0.01%	+172	Timeline
GMABGENMAB A/S	6,526	$200K	<0.01%	new	Timeline
MFGMIZUHO FINANCIAL GROUP INC	29,756	$199K	<0.01%	-6,012	Timeline
HUCKHUCKLEBERRY AI INC	12,474	$198K	<0.01%	+35	Timeline
HPIHANCOCK JOHN PFD INCOME FD	11,339	$197K	<0.01%	+117	Timeline
SONOSONOS INC	12,449	$197K	<0.01%	+194	Timeline
NOVNOV INC	14,830	$197K	<0.01%	-363	Timeline
ARQTARCUTIS BIOTHERAPEUTICS INC	10,065	$190K	<0.01%	new	Timeline
AEOAMERICAN EAGLE OUTFITTERS IN	10,949	$187K	<0.01%	new	Timeline
LZLEGALZOOM COM INC	17,747	$184K	<0.01%	-1,572	Timeline
ACIALBERTSONS COMPANIES INC	10,413	$182K	<0.01%	-8,443	Timeline
JPCNUVEEN PFD & INCOME OPPORTUN	21,998	$180K	<0.01%	-3,748	Timeline
PSQHPSQ HOLDINGS INC	94,005	$180K	<0.01%	+260	Timeline
DIAXNUVEEN DOW 30SM DYNAMIC OVERWR	11,776	$175K	<0.01%	-124	Timeline
WIWWESTERN AST INFL LKD OPP & I	19,667	$175K	<0.01%	-130	Timeline
JRINUVEEN REAL ASSET INCOME & G	12,131	$173K	<0.01%	-641	Timeline
NMAINUVEEN MULTI ASSET INCOME FU	13,303	$173K	<0.01%	+258	Timeline
ERICTELEFONAKTIEBOLAGET LM ERICS	20,769	$172K	<0.01%	-2,994	Timeline
LYGLLOYDS BANKING GROUP PLC	37,602	$171K	<0.01%	+318	Timeline
CTMXCYTOMX THERAPEUTICS INC.	53,243	$170K	<0.01%	new	Timeline
ANVSANNOVIS BIO INC	81,316	$168K	<0.01%	-10,000	Timeline
HQLABRDN LIFE SCIENCES INVESTOR	10,797	$167K	<0.01%	+582	Timeline
CURICURIOSITYSTREAM INC	31,456	$167K	<0.01%	-9,974	Timeline
LEOBNY MELLON STRATEGIC MUNS IN	26,615	$166K	<0.01%	-1,080	Timeline
WDIWESTERN ASSET DIVERSIFIED IN	11,078	$163K	<0.01%	-542	Timeline
TCPCBLACKROCK TCP CAPITAL CORP	25,591	$159K	<0.01%	+11,649	Timeline
XEADXALLSPRING INCOME OPPORTUNIT	22,536	$158K	<0.01%	-183	Timeline
ABEVAMBEV SA	70,745	$158K	<0.01%	+9,846	Timeline
XFOFXCOHEN & STEERS CLOSED-END	11,963	$156K	<0.01%	+223	Timeline
JFRNUVEEN FLOATING RATE INCOME	19,019	$156K	<0.01%	-1,057	Timeline
TGTREDEGAR CORP	19,297	$155K	<0.01%	new	Timeline
COURCOURSERA INC	13,184	$154K	<0.01%	+1,112	Timeline
CLFCLEVELAND-CLIFFS INC NEW	12,614	$154K	<0.01%	+493	Timeline
LUMNLUMEN TECHNOLOGIES INC	24,633	$151K	<0.01%	+2,079	Timeline
CFFNCAPITOL FED FINL INC	22,142	$141K	<0.01%	+5,728	Timeline
RABROOKFIELD REAL ASSETS INCOM	10,490	$140K	<0.01%	new	Timeline
GRFSGRIFOLS S A	13,978	$139K	<0.01%	+1,728	Timeline
NWLNEWELL BRANDS INC	25,879	$136K	<0.01%	-1,421	Timeline
NMZNUVEEN MUN HIGH INCOME OPPOR	12,587	$133K	<0.01%	-715	Timeline
ARDXARDELYX INC	23,680	$130K	<0.01%	+2,537	Timeline
XMYDXBLACKROCK MUNIYIELD FUND	12,276	$130K	<0.01%	+1,679	Timeline
AFBALLIANCEBERNSTEIN NATL MUN I	11,883	$129K	<0.01%	-66	Timeline
FTFFRANKLIN LTD DURATION INCOME	20,039	$128K	<0.01%	+288	Timeline
RLJRLJ LODGING TR	17,388	$125K	<0.01%	+1,184	Timeline
HEHAWAIIAN ELEC INDS INC MTN B	10,721	$118K	<0.01%	new	Timeline
BCXBLACKROCK RES & COMMODITIES	11,541	$117K	<0.01%	new	Timeline
PCFHIGH INCOME SECS FD	17,818	$113K	<0.01%	+425	Timeline
IBRXIMMUNITYBIO INC	45,018	$111K	<0.01%	-4,157	Timeline
RLAYRELAY THERAPEUTICS INC	20,514	$107K	<0.01%	+22	Timeline
RPAYREPAY HLDGS CORP	19,551	$102K	<0.01%	+7,036	Timeline
RUMRUM GROUP INC	14,038	$102K	<0.01%	+1,577	Timeline
LXPLXP INDUSTRIAL TRUST	10,969	$98.3K	<0.01%	+566	Timeline
IEPICAHN ENTERPRISES LP	11,557	$97.3K	<0.01%	-92	Timeline
BBDCBARINGS BDC INC	11,091	$97.2K	<0.01%	0	Timeline
FSMFORTUNA MNG CORP	10,667	$95.6K	<0.01%	-2,183	Timeline
CRGYCRESCENT ENERGY COMPANY	10,489	$93.6K	<0.01%	-1,410	Timeline
HAFNHAFNIA LTD	15,555	$93.2K	<0.01%	+4,644	Timeline
BLMNBLOOMIN BRANDS INC	12,826	$92K	<0.01%	-5,673	Timeline
ITUBITAU UNIBANCO HLDG S A	12,345	$90.6K	<0.01%	-86	Timeline
PLTKPLAYTIKA HLDG CORP	23,085	$89.8K	<0.01%	+3,381	Timeline
KURAKURA ONCOLOGY INC	10,045	$88.9K	<0.01%	new	Timeline
IHSIHS HOLDING LIMITED	13,030	$88.9K	<0.01%	+2,848	Timeline
SVMSILVERCORP METALS INC	14,000	$88.5K	<0.01%	new	Timeline
MEIMETHODE ELECTRS INC	11,609	$87.6K	<0.01%	-659	Timeline
BNCBNB STANDARD CORP	11,086	$86.5K	<0.01%	0	Timeline
SANASANA BIOTECHNOLOGY INC	24,241	$86.1K	<0.01%	+96	Timeline
YDESWYD BIO LTD	40,000	$85.2K	<0.01%	new	Timeline
TELFYTELEFONICA SA-SPON ADR	16,639	$84.5K	<0.01%	+845	Timeline
ACCOACCO BRANDS CORP	20,211	$80.6K	<0.01%	+7,224	Timeline
BTXBLACKROCK TECH AND PRIVATE E	11,906	$79.8K	<0.01%	-1,634	Timeline
TEITEMPLETON EMERGING MKTS INCO	12,745	$79K	<0.01%	+431	Timeline
UWMCUWM HOLDINGS CORPORATION	12,860	$78.3K	<0.01%	new	Timeline
BBDBANCO BRADESCO S A	22,237	$75.2K	<0.01%	-299	Timeline
POWWOUTDOOR HOLDING CO	50,724	$75.1K	<0.01%	-20,666	Timeline
XAWPXABRDN GLOBAL PREMIER PROPERT	18,851	$74.8K	<0.01%	-10,333	Timeline
STKLSUNOPTA INC	12,228	$71.7K	<0.01%	+81	Timeline
NXDRNEXTDOOR HOLDINGS INC	33,912	$70.9K	<0.01%	+1,334	Timeline
EHIWESTERN ASSET GBL HIGH INC F	10,532	$69.5K	<0.01%	+315	Timeline
REAXTHE REAL BROKERAGE INC	16,084	$67.2K	<0.01%	new	Timeline
GRNTGRANITE RIDGE RESOURCES INC	11,939	$64.6K	<0.01%	new	Timeline
HIOWESTERN ASSET HIGH INCOME OP	16,809	$64.5K	<0.01%	+802	Timeline
IRWDIRONWOOD PHARMACEUTICALS INC	48,879	$64K	<0.01%	+7,232	Timeline
LPROOPEN LENDING CORP	30,238	$63.8K	<0.01%	-1,206	Timeline
USALIBERTY ALL STAR EQUITY FD	10,012	$63.5K	<0.01%	-701	Timeline
MMTABERDEEN MULTI-MARKET INCOME	12,841	$61.4K	<0.01%	-91	Timeline
GTNGRAY MEDIA INC	10,168	$58.8K	<0.01%	new	Timeline
FIPFTAI INFRASTRUCTURE INC	13,071	$57K	<0.01%	+330	Timeline
NUVBNUVATION BIO INC	14,827	$54.9K	<0.01%	new	Timeline
NOKNOKIA CORP	10,352	$49.8K	<0.01%	-2,031	Timeline
ALITALIGHT INC	15,093	$49.2K	<0.01%	-15,622	Timeline
HUMAHUMACYTE INC	27,668	$48.1K	<0.01%	+1,589	Timeline
EGHT8X8 INC NEW	21,639	$45.9K	<0.01%	+9,073	Timeline
HIXWESTERN ASSET HIGH INCOM FD	10,375	$45.1K	<0.01%	new	Timeline
WOOFPETCO HEALTH & WELLNESS CO I	11,654	$45.1K	<0.01%	+225	Timeline
HPPHUDSON PAC PPTYS INC	16,095	$44.4K	<0.01%	+3,654	Timeline
NATNORDIC AMERICAN TANKERS LIMI	13,124	$41.2K	<0.01%	+2,236	Timeline
CNDTCONDUENT INC	13,066	$36.6K	<0.01%	-2,666	Timeline
EBEVENTBRITE INC-CLASS A	12,472	$31.4K	<0.01%	-1,656	Timeline
BTBTBIT DIGITAL INC	10,187	$30.6K	<0.01%	+48	Timeline
DHFBNY MELLON HIGH YIELD STRATE	11,255	$29.1K	<0.01%	-64	Timeline
REKRREKOR SYSTEMS INC	15,060	$23.6K	<0.01%	-12,217	Timeline
OPKOPKO HEALTH INC	13,585	$21.1K	<0.01%	new	Timeline
NKTXNKARTA INC	10,085	$20.9K	<0.01%	-583	Timeline
CERSCERUS CORP	11,473	$18.2K	<0.01%	new	Timeline
HAINHAIN CELESTIAL GROUP INC	10,795	$17.1K	<0.01%	+751	Timeline
CTSOCYTOSORBENTS CORP	15,297	$14.3K	<0.01%	0	Timeline
COHEN & STEERS INFRASTRUCTURCOHEN & STEERS INFRASTRUCTUR	16,504	$1.29K	<0.01%	new

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

Security	Type	Amount	Value	Change
SPYSTATE STR SPDR S&P 500 ETF T SHS	put	296,300	$5.8M	+28,700
AVGOBROADCOM INC COM	put	60,000	$1.16M	new
UPSUNITED PARCEL SVCS INC COM	put	40,800	$388K	0
SOXLDIREXION SHARES ETF TRUST DAI SEM BUL ETF	call	17,600	$272K	0
MARAMARA HOLDINGS INC Stock	call	89,000	$163K	new
GMEGAMESTOP CORP CL A	call	90,000	$158K	new
SFMSPROUTS FMRS MKT INC Stock	put	16,600	$144K	new
AAPLAPPLE INC COM	put	12,800	$135K	new
NVDANVIDIA CORPORATION COM	call	10,500	$17K	new

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

Security	Type	Amount	Value	Change
LIBERTY INTERACTIVE LLCLIBERTY INTERACTIVE LLC DEB 4.000%11/1	principal	15,000	$1.22K	0

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
NMFCNEW MTN FIN CORP	143,499	$1.51M	shares
PENNS WOODS BANCORP INCPENNS WOODS BANCORP INC	42,317	$1.28M	shares
IJULINNOVATOR ETFS TRUST	28,486	$910K	shares
GSBDGOLDMAN SACHS BDC INC	74,931	$843K	shares
EEFTEURONET WORLDWIDE INC	7,920	$803K	shares
SKXSKECHERS U S A INC	12,484	$788K	shares
ANSYS INCANSYS INC	2,125	$746K	shares
DMXFISHARES TR	9,609	$715K	shares
APCBTRUST FOR PROFESSIONAL MANAG	23,163	$687K	shares
BALLBALL CORP	11,526	$646K	shares
KEXKIRBY CORP	5,097	$578K	shares
HESS CORPHESS CORP	3,922	$543K	shares
BRKRBRUKER CORP	12,525	$516K	shares
WATWATERS CORP	1,303	$455K	shares
CHAMPIONX CORPORATIONCHAMPIONX CORPORATION	15,739	$391K	shares
EUSBISHARES TR	8,828	$384K	shares
VERVE THERAPEUTICS INCVERVE THERAPEUTICS INC	32,612	$366K	shares
JULJINNOVATOR ETFS TRUST	14,161	$352K	shares
COLDAMERICOLD REALTY TRUST INC	20,982	$349K	shares
JANJINNOVATOR ETFS TRUST	13,090	$323K	shares
ZIMZIM INTEGRATED SHIPPING SERV	1,000,000	$312K	call
SPMBSPDR SERIES TRUST	13,551	$299K	shares
SCHQSCHWAB STRATEGIC TR	9,351	$298K	shares
TWTRADEWEB MKTS INC	1,906	$279K	shares
CTBICOMMUNITY TR BANCORP INC	5,090	$269K	shares
FRPTFRESHPET INC	3,960	$269K	shares
TDCTERADATA CORP DEL	11,359	$253K	shares
ELSEQUITY LIFESTYLE PROPERTIES	4,095	$253K	shares
CRICARTERS INC	8,356	$252K	shares
STXKEA SERIES TRUST	8,191	$249K	shares
LUVSOUTHWEST AIRLS CO	7,663	$249K	shares
MNDYMONDAY COM LTD	750	$236K	shares
QQQEDIREXION SHARES ETF TRUST	2,301	$226K	shares
CECELANESE CORP DEL	4,061	$225K	shares
TMDXTRANSMEDICS GROUP INC	1,662	$223K	shares
SMRNUSCALE PWR CORP	5,566	$220K	shares
DFCFDIMENSIONAL ETF TRUST	5,155	$218K	shares
XDSQINNOVATOR ETFS TRUST	5,797	$217K	shares
ZROZPIMCO ETF TR	3,200	$215K	shares
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORP	1,662	$213K	shares
CFRCULLEN FROST BANKERS INC	1,655	$213K	shares
CPTCAMDEN PPTY TR	1,878	$212K	shares
VVVVALVOLINE INC	5,563	$211K	shares
STRASTRATEGIC ED INC	2,450	$209K	shares
XLRESELECT SECTOR SPDR TR	5,025	$208K	shares
DVDOUBLEVERIFY HLDGS INC	13,898	$208K	shares
WALGREENS BOOTS ALLIANCE INCWALGREENS BOOTS ALLIANCE INC	17,950	$206K	shares
QDELQUIDELORTHO CORP	7,091	$204K	shares
HEIHEICO CORP NEW	621	$204K	shares
JKHYHENRY JACK & ASSOC INC	1,128	$203K	shares
BROSDUTCH BROS INC	2,953	$202K	shares
CUZCOUSINS PPTYS INC	6,683	$201K	shares
AMZAETFIS SER TR I	4,623	$200K	shares
CUSHMAN & WAKEFIELD UK HOLDCCUSHMAN & WAKEFIELD UK HOLDC	17,662	$196K	shares
ACNTASCENT INDUSTRIES CO	12,404	$156K	shares
VSTSVESTIS CORPORATION	27,021	$155K	shares
PKSTPEAKSTONE REALTY TRUST	11,214	$148K	shares
AGNCAGNC INVT CORP	14,804	$136K	shares
SNCYSUN CTRY AIRLS HLDGS INC	11,337	$133K	shares
TROXTRONOX HOLDINGS PLC	25,841	$131K	shares
PGXINVESCO EXCH TRADED FD TR II	11,588	$129K	shares
COTYCOTY INC	27,342	$127K	shares
QSQUANTUMSCAPE CORP	17,747	$119K	shares
SAGE THERAPEUTICS INCSAGE THERAPEUTICS INC	12,876	$117K	shares
PIONEER MUNICIPAL HIGH INCO…PIONEER MUNICIPAL HIGH INCOME	11,648	$107K	shares
WUWESTERN UN CO	12,619	$106K	shares
ECCEAGLE POINT CR CO	13,608	$104K	shares
XFLTXAI OCTAGON FLOATING RATE & AL	15,920	$89.9K	shares
OXFORD LANE CAP CORPOXFORD LANE CAP CORP	17,047	$71.6K	shares
PSECPROSPECT CAP CORP	20,007	$63.6K	shares
UISUNISYS CORP	12,860	$58.3K	shares
UNITI GROUP INCUNITI GROUP INC	10,483	$45.3K	shares
EVGOEVGO INC	10,678	$39K	shares
BLNDBLEND LABS INC	11,660	$38.5K	shares
CTKBCYTEK BIOSCIENCES INC	11,103	$37.8K	shares
PPTFRANKLIN PREMIER INCOME TR	10,282	$37.7K	shares
IWMISHARES TR	23,500	$28.4K	put
GraniteShares 2x Short COIN…GraniteShares 2x Short COIN Daily…	10,000	$24.1K	shares
GRAFTECH INTL LTDGRAFTECH INTL LTD	22,442	$21.8K	shares
BEATHEARTBEAM INC	15,274	$19.1K	shares
Leslie's IncLeslie's Inc	43,646	$18.3K	shares
GPROGOPRO INC	23,658	$17.9K	shares
LXRXLEXICON PHARMACEUTICALS INC	16,699	$15.8K	shares
SESSES AI CORPORATION	12,584	$11.2K	shares
SMRTSMARTRENT INC	10,843	$10.7K	shares
Mersana Therapeutics IncMersana Therapeutics Inc	31,588	$9.35K	shares
TILRAY INCTILRAY INC	10,708	$4.44K	shares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001621225-25-000007	superseded		2025-10-20	acceptance time not in the bulk data set	2026-10-07 03:02:25 UTC
13F-HR/A 0001621225-25-000008	base	restatement	2025-11-07	acceptance time not in the bulk data set	2026-10-07 03:02:25 UTC