Institutional Manager · CIK 0001832521

Castellan Group

LOUISVILLE, KY · File #028-21017

Latest AUM

$795.2M

Positions

Top-10 Concentration

82.0%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	EA SERIES TRUST	02072Q499	-613,478	-$41.0M	+$11.6M
ADD	EA SERIES TRUST	02072L565	+87,576	+$10.1M	+$10,540
ADD	ALPHABET INC	GOOG	+30,002	+$9.4M	+$498,775
ADD	EA SERIES TRUST	02072Q481	+174,166	+$8.8M	-$2.7M
NEW	AMAZON COM INC	AMZN	+35,809	+$8.3M	$0
NEW	INVESCO EXCHANGE TRADED FD T	IVZ	+39,016	+$7.5M	$0
NEW	SPDR S&P 500 ETF TR	SPY	+10,909	+$7.4M	$0
ADD	MICROSOFT CORP	MSFT	+13,919	+$6.7M	-$109,856
NEW	MCKESSON CORP	MCK	+8,130	+$6.7M	$0
ADD	APPLE INC	AAPL	+22,860	+$6.2M	+$28,292

Sector Allocation

3.3%$26.4M

2.2%$17.6M

1.9%$15.4M

1.8%$14.2M

Consumer Discretionary

1.3%$10.1M

Healthcare

1.1%$8.8M

Industrials

0.7%$6.0M

Real Estate

0.5%$4.3M

Communication Services

0.5%$4.0M

Consumer Staples

0.4%$3.2M

Materials

0.3%$2.5M

Filing History

Jan 23, 202613F COMBINATION REPORTQ/E Dec 202561 pos · $795.2M
Oct 23, 202513F COMBINATION REPORTQ/E Sep 202540 pos · $690.4M
Aug 12, 202513F COMBINATION REPORT (Amended)Q/E Jun 202531 pos · $542.8M
Jul 24, 202513F HOLDINGS REPORTQ/E Jun 202531 pos · $542.8M
May 8, 202513F HOLDINGS REPORTQ/E Mar 202565 pos · $357.6M
Jan 29, 202513F HOLDINGS REPORTQ/E Dec 202461 pos · $230.8M
Nov 25, 202413F HOLDINGS REPORTQ/E Sep 202459 pos · $237.2M
Aug 12, 202413F HOLDINGS REPORTQ/E Jun 202460 pos · $210.1M
May 15, 202413F HOLDINGS REPORTQ/E Mar 202460 pos · $195.3M
Nov 15, 202313F HOLDINGS REPORTQ/E Dec 202361 pos · $142.3M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	EA SERIES TRUST	02072Q499	6,419,640	$428.6M	54.33%
2	EA SERIES TRUST	02072Q481	2,944,135	$149.0M	18.89%
3	ALPHABET INC	GOOG	37,102	$11.6M	1.48%
4	EA SERIES TRUST	02072L565	96,076	$11.1M	1.40%
5	MICROSOFT CORP	MSFT	17,119	$8.3M	1.05%
6	AMAZON COM INC	AMZN	35,809	$8.3M	1.05%
7	ABRDN PRECIOUS METALS BASKET	GLTR	37,983	$7.8M	0.99%
8	EXXON MOBIL CORP	XOM	62,973	$7.6M	0.96%
9	INVESCO EXCHANGE TRADED FD T	IVZ	39,016	$7.5M	0.95%
10	SPDR S&P 500 ETF TR	SPY	10,909	$7.4M	0.94%
11	MCKESSON CORP	MCK	8,130	$6.7M	0.85%
12	APPLE INC	AAPL	24,502	$6.7M	0.84%
13	SELECT SECTOR SPDR TR	81369Y506	144,446	$6.5M	0.82%
14	NVIDIA CORPORATION	NVDA	31,477	$5.9M	0.74%
15	VANGUARD INDEX FDS	922908751	19,118	$4.9M	0.63%
16	CLEARWAY ENERGY INC	CWEN-A	130,242	$4.3M	0.55%
17	CARETRUST REIT INC	CTRE	119,420	$4.3M	0.55%
18	FIRST INDL RLTY TR INC	32054K103	73,957	$4.2M	0.54%
19	NEXTERA ENERGY INC	NEE-PW	51,924	$4.2M	0.53%
20	PORTLAND GEN ELEC CO	736508847	86,221	$4.1M	0.52%