13F HOLDINGS REPORT

Sovereign Investment Advisors, LLC

Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001908165-26-000002

Total Value

$399.8M

Positions

135

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (135)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	ISHARES TR	464287200	88,422	$60.6M	15.15%
2	ISHARES TR	46432F842	321,228	$28.7M	7.19%
3	MPLX LP	MPLXP	355,808	$19.0M	4.75%
4	INVESCO QQQ TR	IVZ	23,734	$14.6M	3.65%
5	BNY MELLON ETF TRUST	09661T826	313,875	$12.7M	3.18%
6	VANGUARD BD INDEX FDS	921937835	145,805	$10.8M	2.70%
7	ISHARES INC	46434G103	156,802	$10.5M	2.64%
8	WESTERN MIDSTREAM PARTNERS L	WES	261,121	$10.3M	2.58%
9	ENTERPRISE PRODS PARTNERS L	293792107	316,035	$10.1M	2.53%
10	VANGUARD INDEX FDS	922908769	28,767	$9.6M	2.41%
11	PLAINS ALL AMERN PIPELINE L	726503105	503,126	$9.0M	2.26%
12	JANUS DETROIT STR TR	47103U886	176,783	$8.7M	2.17%
13	JANUS DETROIT STR TR	47103U886	169,504	$8.3M	2.08%
14	VANGUARD SCOTTSDALE FDS	92206C771	170,933	$8.0M	2.01%
15	ISHARES TR	464287226	68,708	$6.9M	1.72%
16	ONEOK INC NEW	OKE	91,202	$6.7M	1.68%
17	VANGUARD BD INDEX FDS	921937819	85,720	$6.7M	1.67%
18	ISHARES TR	46429B697	67,745	$6.4M	1.60%
19	JANUS DETROIT STR TR	47103U886	125,499	$6.2M	1.54%
20	LEGG MASON ETF INVT	52468L406	151,971	$6.1M	1.53%
21	SPDR SERIES TRUST	78468R663	58,014	$5.3M	1.33%
22	PHILLIPS 66	PSX	40,137	$5.2M	1.30%
23	ISHARES TR	46429B697	54,172	$5.1M	1.28%
24	ISHARES TR	464287309	40,299	$5.0M	1.24%
25	JANUS DETROIT STR TR	47103U845	95,222	$4.8M	1.20%
26	SPDR SERIES TRUST	78468R622	49,017	$4.8M	1.19%
27	SPDR S&P 500 ETF TR	SPY	6,373	$4.4M	1.09%
28	ALPS ETF TR	00162Q346	140,846	$3.7M	0.92%
29	VANGUARD STAR FDS	921909768	47,111	$3.6M	0.89%
30	INVESCO QQQ TR	IVZ	5,506	$3.4M	0.85%
31	BNY MELLON ETF TRUST	09661T826	76,576	$3.1M	0.77%
32	ISHARES TR	46435G326	36,288	$3.0M	0.75%
33	TC ENERGY CORP	TRPRF	52,566	$2.9M	0.73%
34	SPDR S&P 500 ETF TR	SPY	3,938	$2.7M	0.67%
35	ALPS ETF TR	00162Q346	94,921	$2.5M	0.62%
36	INVESCO QQQ TR	IVZ	3,990	$2.5M	0.61%
37	INVESCO EXCH TRADED FD TR II	IVZ	32,177	$2.3M	0.57%
38	JANUS DETROIT STR TR	47103U886	45,700	$2.2M	0.56%
39	SUNOCO LP/SUNOCO FIN CORP	SUN	41,400	$2.2M	0.54%
40	ISHARES INC	46434G103	29,673	$2.0M	0.50%
41	JANUS DETROIT STR TR	47103U845	39,300	$2.0M	0.50%
42	INVESCO QQQ TR	IVZ	3,192	$2.0M	0.49%
43	SPDR S&P 500 ETF TR	SPY	2,823	$1.9M	0.48%
44	BNY MELLON ETF TRUST	09661T826	47,459	$1.9M	0.48%
45	BNY MELLON ETF TRUST	09661T826	46,108	$1.9M	0.47%
46	ISHARES TR	464287887	11,649	$1.6M	0.41%
47	SPDR S&P 500 ETF TR	SPY	2,258	$1.5M	0.39%
48	VANGUARD INTL EQUITY INDEX F	922042858	28,670	$1.5M	0.39%
49	ISHARES TR	464287200	2,216	$1.5M	0.38%
50	JANUS DETROIT STR TR	47103U845	29,591	$1.5M	0.37%
51	INVESCO QQQ TR	IVZ	2,394	$1.5M	0.37%
52	JANUS DETROIT STR TR	47103U845	26,732	$1.4M	0.34%
53	INVESCO QQQ TR	IVZ	1,981	$1.2M	0.30%
54	SPDR S&P 500 ETF TR	SPY	1,727	$1.2M	0.30%
55	VANGUARD SCOTTSDALE FDS	92206C409	14,639	$1.2M	0.29%
56	INVESCO QQQ TR	IVZ	1,876	$1.2M	0.29%
57	BNY MELLON ETF TRUST	09661T826	28,309	$1.1M	0.29%
58	INVESCO QQQ TR	IVZ	1,835	$1.1M	0.28%
59	BNY MELLON ETF TRUST	09661T826	27,570	$1.1M	0.28%
60	SPDR S&P 500 ETF TR	SPY	1,624	$1.1M	0.28%
61	SPDR S&P 500 ETF TR	SPY	1,552	$1.1M	0.27%
62	JANUS DETROIT STR TR	47103U845	20,642	$1.0M	0.26%
63	JANUS DETROIT STR TR	47103U886	21,210	$1.0M	0.26%
64	INVESCO QQQ TR	IVZ	1,658	$1.0M	0.25%
65	JANUS DETROIT STR TR	47103U845	20,126	$1.0M	0.25%
66	ISHARES TR	46429B697	10,768	$1.0M	0.25%
67	ISHARES TR	46435G326	12,196	$1.0M	0.25%
68	SPDR S&P 500 ETF TR	SPY	1,459	$994,921	0.25%
69	SPDR S&P 500 ETF TR	SPY	1,459	$994,921	0.25%
70	VANGUARD BD INDEX FDS	921937835	13,395	$992,168	0.25%
71	ISHARES TR	46429B697	10,516	$990,187	0.25%
72	VANGUARD STAR FDS	921909768	13,107	$988,792	0.25%
73	JANUS DETROIT STR TR	47103U886	19,747	$970,368	0.24%
74	JANUS DETROIT STR TR	47103U886	19,590	$962,653	0.24%
75	SPDR S&P 500 ETF TR	SPY	1,399	$956,795	0.24%
76	BNY MELLON ETF TRUST	09661T826	22,795	$924,655	0.23%
77	ALPS ETF TR	00162Q346	33,635	$876,864	0.22%
78	MPLX LP	MPLXP	16,400	$875,268	0.22%
79	INVESCO QQQ TR	IVZ	1,296	$796,146	0.20%
80	ISHARES TR	46435G326	9,443	$778,859	0.19%
81	SPDR S&P 500 ETF TR	SPY	1,131	$773,506	0.19%
82	BNY MELLON ETF TRUST	09661T826	17,628	$715,061	0.18%
83	BNY MELLON ETF TRUST	09661T826	16,429	$666,425	0.17%
84	SPDR SERIES TRUST	78468R663	6,433	$587,848	0.15%
85	BNY MELLON ETF TRUST	09661T826	14,314	$580,633	0.15%
86	BNY MELLON ETF TRUST	09661T826	13,877	$562,906	0.14%
87	BNY MELLON ETF TRUST	09661T826	12,509	$507,415	0.13%
88	ISHARES TR	46429B697	5,383	$506,863	0.13%
89	ALPS ETF TR	00162Q346	19,364	$504,819	0.13%
90	ISHARES TR	46429B697	5,348	$503,568	0.13%
91	ISHARES TR	46434V613	10,667	$496,442	0.12%
92	ALPS ETF TR	00162Q346	18,597	$484,824	0.12%
93	WESTERN MIDSTREAM PARTNERS L	WES	12,071	$476,805	0.12%
94	ENTERPRISE PRODS PARTNERS L	293792107	14,773	$473,622	0.12%
95	ISHARES INC	46434G103	6,980	$469,196	0.12%
96	ALPS ETF TR	00162Q346	17,088	$445,484	0.11%
97	INVESCO QQQ TR	IVZ	721	$442,918	0.11%
98	VANGUARD SCOTTSDALE FDS	92206C599	1,435	$430,974	0.11%
99	PLAINS ALL AMERN PIPELINE L	726503105	23,286	$418,217	0.10%
100	VANGUARD SCOTTSDALE FDS	92206C409	5,028	$400,882	0.10%
101	JANUS DETROIT STR TR	47103U845	7,817	$395,384	0.10%
102	DIMENSIONAL ETF TRUST	25434V500	5,546	$386,390	0.10%
103	VANGUARD INDEX FDS	922908769	1,141	$382,494	0.10%
104	INVESCO EXCH TRADED FD TR II	IVZ	5,232	$373,646	0.09%
105	SPDR S&P 500 ETF TR	SPY	544	$372,049	0.09%
106	JANUS DETROIT STR TR	47103U845	6,967	$352,391	0.09%
107	SPDR S&P 500 ETF TR	SPY	513	$349,978	0.09%
108	BNY MELLON ETF TRUST	09661T826	8,608	$349,175	0.09%
109	BNY MELLON ETF TRUST	09661T826	8,608	$349,175	0.09%
110	ISHARES TR	46434V613	7,400	$344,396	0.09%
111	SPDR S&P 500 ETF TR	SPY	465	$318,020	0.08%
112	BNY MELLON ETF TRUST	09661T826	7,821	$317,251	0.08%
113	INVESCO QQQ TR	IVZ	510	$313,298	0.08%
114	ONEOK INC NEW	OKE	4,200	$308,700	0.08%
115	ISHARES TR	464287234	5,601	$306,431	0.08%
116	SOUTH BOW CORP	SOBO	10,513	$294,812	0.07%
117	SPDR S&P 500 ETF TR	SPY	422	$288,466	0.07%
118	INVESCO QQQ TR	IVZ	468	$287,497	0.07%
119	BNY MELLON ETF TRUST	09661T826	6,911	$280,338	0.07%
120	JANUS DETROIT STR TR	47103U845	5,422	$274,245	0.07%
121	JANUS DETROIT STR TR	47103U845	4,983	$252,040	0.06%
122	ISHARES TR	464287309	2,017	$248,615	0.06%
123	SPDR S&P 500 ETF TR	SPY	364	$248,219	0.06%
124	INVESCO QQQ TR	IVZ	396	$243,267	0.06%
125	INVESCO QQQ TR	IVZ	395	$242,652	0.06%
126	BNY MELLON ETF TRUST	09661T826	5,836	$236,731	0.06%
127	BNY MELLON ETF TRUST	09661T826	5,771	$234,095	0.06%
128	PHILLIPS 66	PSX	1,804	$232,788	0.06%
129	ALPS ETF TR	00162Q346	8,707	$226,991	0.06%
130	ALPS ETF TR	00162Q346	8,577	$223,602	0.06%
131	INVESCO EXCHANGE TRADED FD T	IVZ	1,143	$218,953	0.05%
132	INVESCO QQQ TR	IVZ	351	$215,623	0.05%
133	VANGUARD SCOTTSDALE FDS	92206C599	717	$215,337	0.05%
134	ALPS ETF TR	00162Q346	7,960	$207,517	0.05%
135	SPDR S&P 500 ETF TR	SPY	298	$203,806	0.05%