13F HOLDINGS REPORT

Burton Enright Welch

Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0002105919-26-000002

Total Value

$710.5M

Positions

128

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (128)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	DIMENSIONAL ETF TRUST	25434V708	3,678,371	$145.6M	20.50%
2	AMERICAN CENTY ETF TR	025072802	567,497	$53.3M	7.51%
3	AMERICAN CENTY ETF TR	025072877	473,099	$48.2M	6.79%
4	VANGUARD CHARLOTTE FDS	92203J407	954,414	$46.1M	6.49%
5	DIMENSIONAL ETF TRUST	25434V831	1,079,349	$41.0M	5.78%
6	DIMENSIONAL ETF TRUST	25434V799	1,111,853	$38.3M	5.39%
7	DIMENSIONAL ETF TRUST	25434V732	1,033,237	$34.2M	4.81%
8	AMERICAN CENTY ETF TR	025072885	251,058	$28.1M	3.95%
9	VANGUARD MALVERN FDS	922020748	264,826	$20.6M	2.90%
10	AMERICAN CENTY ETF TR	025072703	226,482	$18.6M	2.62%
11	VANGUARD MALVERN FDS	922020805	345,508	$17.1M	2.41%
12	DIMENSIONAL ETF TRUST	25434V823	674,979	$15.5M	2.18%
13	AMERICAN CENTY ETF TR	025072604	191,892	$14.8M	2.08%
14	CHEVRON CORP NEW	CVX	82,664	$12.6M	1.77%
15	CAPITAL GROUP INTL FOCUS EQT	14019W109	337,912	$10.0M	1.41%
16	MCKESSON CORP	MCK	12,158	$10.0M	1.40%
17	APPLE INC	AAPL	35,077	$9.5M	1.34%
18	VANGUARD INTL EQUITY INDEX F	922042874	93,124	$7.8M	1.10%
19	LINCOLN ELEC HLDGS INC	533900106	20,764	$5.0M	0.70%
20	CAPITAL GROUP INTERNATIONAL	14021M107	139,139	$4.8M	0.68%
21	J P MORGAN EXCHANGE TRADED F	46641Q761	70,243	$4.4M	0.62%
22	DIMENSIONAL ETF TRUST	25434V104	85,007	$4.0M	0.56%
23	MICROSOFT CORP	MSFT	8,205	$4.0M	0.56%
24	BROADCOM INC	AVGO	11,184	$3.9M	0.54%
25	DIMENSIONAL ETF TRUST	25434V302	114,608	$3.7M	0.53%
26	DIMENSIONAL ETF TRUST	25434V609	62,265	$3.7M	0.52%
27	VANGUARD INSTL INDEX FD	922040845	46,760	$3.5M	0.50%
28	TESLA INC	TSLA	7,510	$3.4M	0.48%
29	DIMENSIONAL ETF TRUST	25434V625	45,128	$3.3M	0.47%
30	BANK AMERICA CORP	060505104	57,380	$3.2M	0.44%
31	NVIDIA CORPORATION	NVDA	16,846	$3.1M	0.44%
32	DIMENSIONAL ETF TRUST	25434V658	111,389	$2.9M	0.41%
33	DIMENSIONAL ETF TRUST	25434V815	86,652	$2.8M	0.40%
34	ELI LILLY & CO	LLY	2,615	$2.8M	0.40%
35	AMAZON COM INC	AMZN	12,117	$2.8M	0.39%
36	DIMENSIONAL ETF TRUST	25434V781	72,917	$2.8M	0.39%
37	VANGUARD WELLINGTON FD	921935870	25,989	$2.6M	0.37%
38	DIMENSIONAL ETF TRUST	25434V716	59,720	$2.6M	0.37%
39	ALPHABET INC	GOOG	7,665	$2.4M	0.34%
40	DIMENSIONAL ETF TRUST	25434V203	62,784	$2.4M	0.34%
41	ALPHABET INC	GOOG	7,463	$2.3M	0.33%
42	VANGUARD INDEX FDS	922908363	3,732	$2.3M	0.33%
43	ISHARES TR	464287200	3,309	$2.3M	0.32%
44	ISHARES TR	46434V738	30,864	$2.2M	0.31%
45	CONNECTONE BANCORP INC	CNOBP	79,662	$2.1M	0.29%
46	ISHARES TR	46432F339	9,766	$1.9M	0.27%
47	VANGUARD CALIF TAX FREE FDS	922021605	16,716	$1.7M	0.24%
48	BERKSHIRE HATHAWAY INC DEL	BRK-A	3,162	$1.6M	0.22%
49	VANGUARD INDEX FDS	922908553	17,347	$1.5M	0.22%
50	AMERICAN CENTY ETF TR	025072281	18,655	$1.4M	0.20%
51	VANGUARD MUN BD FDS	922907712	18,807	$1.4M	0.20%
52	SPDR S&P 500 ETF TR	SPY	2,063	$1.4M	0.20%
53	META PLATFORMS INC	META	2,095	$1.4M	0.19%
54	VISA INC	V	3,892	$1.4M	0.19%
55	VANGUARD INDEX FDS	922908652	6,360	$1.3M	0.19%
56	COSTCO WHSL CORP NEW	22160K105	1,428	$1.2M	0.17%
57	VANGUARD MUN BD FDS	922907696	14,697	$1.1M	0.16%
58	CAPITAL GRP FIXED INCM ETF T	14020Y607	42,575	$1.1M	0.16%
59	DIMENSIONAL ETF TRUST	25434V682	26,810	$1.1M	0.16%
60	VANGUARD TAX-MANAGED FDS	921943858	16,841	$1.1M	0.15%
61	JPMORGAN CHASE & CO.	VYLD	3,031	$976,772	0.14%
62	CATERPILLAR INC	CAT	1,640	$939,507	0.13%
63	SCHWAB STRATEGIC TR	808524102	35,559	$932,716	0.13%
64	DIMENSIONAL ETF TRUST	25434V633	18,192	$911,059	0.13%
65	ORACLE CORP	ORCL-PD	4,655	$907,381	0.13%
66	JOHNSON & JOHNSON	JNJ	4,063	$840,838	0.12%
67	CAPITAL GRP FIXED INCM ETF T	14020Y201	30,239	$827,955	0.12%
68	ISHARES TR	464287614	1,738	$822,620	0.12%
69	CADENCE DESIGN SYSTEM INC	CDNS	2,540	$793,954	0.11%
70	VANGUARD STAR FDS	921909768	10,234	$772,037	0.11%
71	VANGUARD MALVERN FDS	922020755	9,501	$742,171	0.10%
72	WILLIAMS SONOMA INC	WSM	4,050	$723,290	0.10%
73	AUTOMATIC DATA PROCESSING IN	ADP	2,795	$718,912	0.10%
74	HOME DEPOT INC	HD	1,978	$680,598	0.10%
75	WELLS FARGO CO NEW	949746101	7,183	$669,496	0.09%
76	EXPEDITORS INTL WASH INC	302130109	4,308	$641,936	0.09%
77	ISHARES TR	464287507	9,335	$616,110	0.09%
78	STRYKER CORPORATION	SYK	1,726	$606,529	0.09%
79	VANGUARD BD INDEX FDS	921937835	8,108	$600,590	0.08%
80	ISHARES TR	464287598	2,801	$589,188	0.08%
81	VANGUARD INSTL INDEX FD	922040852	7,522	$567,685	0.08%
82	INTEL CORP	INTC	14,733	$543,636	0.08%
83	VANGUARD INTL EQUITY INDEX F	922042858	9,640	$518,240	0.07%
84	DIMENSIONAL ETF TRUST	25434V849	10,670	$513,974	0.07%
85	PEPSICO INC	PEP	3,549	$509,421	0.07%
86	DIMENSIONAL ETF TRUST	25434V690	11,814	$506,171	0.07%
87	GE AEROSPACE	369604301	1,628	$501,364	0.07%
88	CISCO SYS INC	CSCO	6,448	$496,723	0.07%
89	AMERICAN EXPRESS CO	AXP	1,338	$494,994	0.07%
90	WALMART INC	WMT	4,335	$482,954	0.07%
91	DISNEY WALT CO	254687106	4,172	$474,686	0.07%
92	SPROTT ASSET MANAGEMENT LP	SII	14,071	$464,625	0.07%
93	AMERICAN CENTY ETF TR	025072299	6,247	$463,903	0.07%
94	VANGUARD INDEX FDS	922908769	1,342	$450,055	0.06%
95	PROCTER AND GAMBLE CO	742718109	3,069	$439,883	0.06%
96	INTUITIVE SURGICAL INC	ISRG	768	$434,965	0.06%
97	VANGUARD BD INDEX FDS	92203C303	8,661	$431,654	0.06%
98	VANGUARD INTL EQUITY INDEX F	922042742	3,057	$431,233	0.06%
99	VANGUARD ADMIRAL FDS INC	921932505	966	$429,474	0.06%
100	EXXON MOBIL CORP	XOM	3,564	$428,855	0.06%
101	SCHWAB STRATEGIC TR	808524201	15,842	$426,318	0.06%
102	MCDONALDS CORP	MCD	1,362	$416,352	0.06%
103	ABBVIE INC	ABBV	1,763	$402,828	0.06%
104	BOEING CO	BA-PA	1,851	$401,890	0.06%
105	INTERNATIONAL BUSINESS MACHS	INTR	1,323	$392,002	0.06%
106	ISHARES TR	46432F842	4,323	$386,736	0.05%
107	AMERICAN CENTY ETF TR	025072315	5,900	$383,329	0.05%
108	INVESCO QQQ TR	IVZ	603	$370,628	0.05%
109	DIMENSIONAL ETF TRUST	25434V773	10,332	$340,337	0.05%
110	APPLIED MATLS INC	038222105	1,303	$334,858	0.05%
111	SCHWAB STRATEGIC TR	808524805	12,143	$291,913	0.04%
112	AT&T INC	T-PC	11,685	$290,268	0.04%
113	SCHWAB STRATEGIC TR	808524607	9,903	$282,026	0.04%
114	VANGUARD WORLD FD	92204A702	363	$273,378	0.04%
115	GE VERNOVA INC	GEV	413	$269,925	0.04%
116	GOLDMAN SACHS GROUP INC	GSCE	290	$254,910	0.04%
117	AMGEN INC	AMGN	775	$253,666	0.04%
118	SPDR GOLD TR	GLD	610	$241,750	0.03%
119	DOCUSIGN INC	DOCU	3,519	$240,700	0.03%
120	NETFLIX INC	NFLX	2,476	$232,150	0.03%
121	BLACKROCK INC	BLK	203	$217,280	0.03%
122	LOCKHEED MARTIN CORP	LMT	444	$214,750	0.03%
123	SCHWAB CHARLES CORP	SCHW-PJ	2,140	$213,808	0.03%
124	INTUIT	INTU	322	$213,300	0.03%
125	EVERGY INC	EVRG	2,912	$211,091	0.03%
126	ADVANCED MICRO DEVICES INC	AMD	955	$204,523	0.03%
127	LOWES COS INC	548661107	833	$200,887	0.03%
128	CERUS CORP	CERS	11,056	$22,776	0.00%