13F HOLDINGS REPORT

Note Advisors, LLC

Quarter ended Q1 2025 · Filed May 14, 2025 · Accession 0002056243-25-000002

Total Value

$121.1M

Positions

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (74)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	DIMENSIONAL ETF TRUST	25434V104	603,188	$23.2M	19.15%
2	DIMENSIONAL ETF TRUST	25434V203	282,170	$8.8M	7.28%
3	DIMENSIONAL ETF TRUST	25434V872	189,915	$8.0M	6.60%
4	VANGUARD BD INDEX FDS	921937835	91,302	$6.7M	5.54%
5	VANGUARD SCOTTSDALE FDS	92206C730	24,252	$6.2M	5.08%
6	VANGUARD INDEX FDS	922908553	39,509	$3.6M	2.95%
7	VANGUARD CHARLOTTE FDS	92203J407	67,814	$3.3M	2.73%
8	DIMENSIONAL ETF TRUST	25434V708	94,500	$3.1M	2.57%
9	DIMENSIONAL ETF TRUST	25434V302	114,663	$3.0M	2.45%
10	VANGUARD WHITEHALL FDS	921946794	38,742	$2.9M	2.36%
11	ISHARES TR	464288323	51,904	$2.7M	2.26%
12	ISHARES TR	464287242	24,694	$2.7M	2.22%
13	SPDR SER TR	78464A656	93,205	$2.5M	2.03%
14	GLOBAL X FDS	37954Y657	120,227	$2.3M	1.89%
15	VANGUARD TAX-MANAGED FDS	921943858	44,859	$2.3M	1.88%
16	GLOBAL X FDS	37954Y483	101,246	$1.7M	1.39%
17	VANGUARD MUN BD FDS	922907746	33,694	$1.7M	1.38%
18	ISHARES U S ETF TR	46431W853	58,215	$1.5M	1.27%
19	SCHWAB STRATEGIC TR	808524797	54,476	$1.5M	1.26%
20	J P MORGAN EXCHANGE TRADED F	46641Q332	26,216	$1.5M	1.24%
21	DIMENSIONAL ETF TRUST	25434V823	62,816	$1.5M	1.23%
22	VANGUARD SPECIALIZED FUNDS	921908844	6,995	$1.4M	1.12%
23	INVESCO EXCH TRADED FD TR II	IVZ	59,873	$1.3M	1.09%
24	ISHARES TR	46432F834	18,150	$1.3M	1.05%
25	ISHARES TR	464288414	11,938	$1.3M	1.04%
26	MCDONALDS CORP	MCD	3,982	$1.2M	1.03%
27	SSGA ACTIVE TR	78470P309	25,558	$1.1M	0.91%
28	ISHARES TR	464287622	3,400	$1.0M	0.86%
29	DIMENSIONAL ETF TRUST	25434V575	19,887	$1.0M	0.86%
30	ALPHABET INC	GOOG	6,650	$1.0M	0.86%
31	ISHARES TR	46435G672	18,133	$906,469	0.75%
32	DIMENSIONAL ETF TRUST	25434V849	18,957	$901,784	0.74%
33	VANGUARD WHITEHALL FDS	921946885	13,177	$845,963	0.70%
34	APPLE INC	AAPL	3,775	$838,549	0.69%
35	ISHARES TR	464287176	7,283	$809,068	0.67%
36	FIRST TR EXCH TRADED FD III	33739E108	44,867	$789,211	0.65%
37	VANGUARD SCOTTSDALE FDS	92206C573	9,310	$715,008	0.59%
38	GOLDMAN SACHS ETF TR	NVGLF	15,469	$707,871	0.58%
39	MICROSOFT CORP	MSFT	1,846	$693,095	0.57%
40	VANGUARD INTL EQUITY INDEX F	922042858	14,983	$678,134	0.56%
41	VANGUARD INDEX FDS	922908744	3,725	$643,487	0.53%
42	SPDR SER TR	78468R606	27,402	$641,755	0.53%
43	VANGUARD INDEX FDS	922908512	3,376	$541,983	0.45%
44	VANGUARD SCOTTSDALE FDS	92206C649	4,068	$541,415	0.45%
45	EVANS BANCORP INC	29911Q208	12,597	$490,918	0.41%
46	GLOBAL X FDS	37954Y475	11,962	$472,379	0.39%
47	BERKSHIRE HATHAWAY INC DEL	BRK-A	877	$467,144	0.39%
48	DIMENSIONAL ETF TRUST	25434V856	10,609	$446,756	0.37%
49	UNITED AIRLS HLDGS INC	UNTCW	6,260	$432,253	0.36%
50	SCHWAB STRATEGIC TR	808524854	15,838	$393,733	0.33%
51	ISHARES TR	464287226	3,797	$375,599	0.31%
52	ISHARES TR	46436E718	3,632	$365,633	0.30%
53	SCHWAB STRATEGIC TR	808524839	15,774	$365,328	0.30%
54	DIMENSIONAL ETF TRUST	25434V625	5,926	$363,442	0.30%
55	VANGUARD STAR FDS	921909768	5,689	$353,287	0.29%
56	WISDOMTREE TR	WT	5,718	$340,793	0.28%
57	HOME DEPOT INC	HD	878	$321,794	0.27%
58	VANECK ETF TRUST	92189F437	11,084	$319,884	0.26%
59	M & T BK CORP	55261F104	1,768	$316,069	0.26%
60	ISHARES TR	464288273	4,925	$312,885	0.26%
61	VANGUARD INDEX FDS	922908769	1,118	$307,271	0.25%
62	ISHARES TR	46429B663	2,534	$306,918	0.25%
63	INVESCO QQQ TR	IVZ	616	$288,855	0.24%
64	AMAZON COM INC	AMZN	1,405	$267,229	0.22%
65	ISHARES TR	46434V621	3,998	$246,996	0.20%
66	ISHARES TR	46435G425	1,999	$243,698	0.20%
67	BROADCOM INC	AVGO	1,450	$242,774	0.20%
68	META PLATFORMS INC	META	416	$239,833	0.20%
69	ALPHABET INC	GOOG	1,542	$238,455	0.20%
70	EXXON MOBIL CORP	XOM	1,979	$235,390	0.19%
71	CENCORA INC	COR	803	$223,306	0.18%
72	ANALOG DEVICES INC	ADI	1,105	$222,858	0.18%
73	UNITED RENTALS INC	URI	350	$219,345	0.18%
74	ISHARES TR	464287234	4,945	$216,097	0.18%