Institutional Manager · CIK 0001859918

TECTONIC ADVISORS LLC

FRISCO, TX · File #028-21254

Latest AUM

$1.90B

Positions

411

Top-10 Concentration

54.5%

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	PIMCO ETF TR	72201R775	-1,572,556	-$146.4M	-$447,885
REDUCE	TOUCHSTONE ETF TRUST	89157W871	-1,517,692	-$39.6M	-$609,299
REDUCE	TCW ETF TRUST	29287L700	-572,367	-$22.7M	-$116,100
REDUCE	ENBRIDGE INC	ENNPF	-309,504	-$14.8M	-$816,382
REDUCE	CLEARWAY ENERGY INC	CWEN-A	-462,653	-$14.5M	+$2.1M
ADD	MPLX LP	MPLXP	+251,566	+$13.4M	+$1,909
ADD	IRON MTN INC DEL	46284V101	+158,889	+$13.2M	-$36,887
ADD	NNN REIT INC	NNN	+330,856	+$13.1M	-$9,097
ADD	BLUE OWL CAPITAL CORPORATION	OWL	+1,026,419	+$12.8M	-$2,940
REDUCE	HERCULES CAPITAL INC	HCXY	-672,238	-$12.7M	-$61,632

Sector Allocation

Technology

4.6%$87.1M

Consumer Discretionary

4.3%$82.3M

4.3%$80.7M

3.7%$69.7M

2.6%$48.8M

2.2%$41.0M

1.9%$36.1M

1.4%$26.4M

1.1%$20.5M

Communication Services

0.9%$17.9M

Utilities

0.7%$12.8M

Filing History

Jan 23, 202613F HOLDINGS REPORTQ/E Dec 2025411 pos · $1.90B
Oct 21, 202513F HOLDINGS REPORTQ/E Sep 2025421 pos · $1.83B
Jul 23, 202513F HOLDINGS REPORTQ/E Jun 2025407 pos · $1.72B
May 2, 202513F HOLDINGS REPORTQ/E Mar 2025408 pos · $1.60B
Jan 27, 202513F HOLDINGS REPORTQ/E Dec 2024413 pos · $1.54B
Oct 23, 202413F HOLDINGS REPORTQ/E Sep 2024391 pos · $1.53B
Aug 2, 202413F HOLDINGS REPORTQ/E Jun 2024385 pos · $1.39B
May 7, 202413F HOLDINGS REPORTQ/E Mar 2024373 pos · $1.31B
Oct 24, 202313F HOLDINGS REPORTQ/E Dec 2023360 pos · $1.07B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	PIMCO ETF TR	72201R775	1,585,579	$147.6M	11.07%
2	SSGA ACTIVE ETF TR	78467V848	2,451,501	$98.7M	7.40%
3	ISHARES TR	464287200	131,956	$90.4M	6.78%
4	VANGUARD INDEX FDS	922908363	143,614	$90.1M	6.76%
5	SPDR SERIES TRUST	78464A854	951,414	$76.3M	5.73%
6	ADVISORS INNER CIRCLE FD III	00775Y256	2,827,015	$69.4M	5.21%
7	VANGUARD INDEX FDS	922908363	74,276	$46.6M	3.49%
8	TOUCHSTONE ETF TRUST	89157W871	1,566,963	$40.9M	3.07%
9	FUNDVANTAGE TR	36087T395	1,368,164	$33.9M	2.54%
10	ISHARES TR	464287226	333,045	$33.3M	2.50%
11	VANGUARD BD INDEX FDS	921937835	445,739	$33.0M	2.48%
12	SPDR SERIES TRUST	78468R663	338,888	$31.0M	2.32%
13	VANGUARD TAX-MANAGED FDS	921943858	456,080	$28.5M	2.14%
14	TCW ETF TRUST	29287L700	638,259	$25.3M	1.90%
15	UNIFIED SER TR	UFI	625,137	$22.4M	1.68%
16	VANGUARD TAX-MANAGED FDS	921943858	316,944	$19.8M	1.49%
17	INTERNATIONAL BUSINESS MACHS	INTR	53,263	$15.8M	1.18%
18	ENBRIDGE INC	ENNPF	324,539	$15.5M	1.16%
19	CLEARWAY ENERGY INC	CWEN-A	484,861	$15.2M	1.14%
20	ONEOK INC NEW	OKE	205,339	$15.1M	1.13%