Institutional Manager · CIK 0002054264

Partners in Financial Planning

SALEM, VA · File #028-24971

Latest AUM

$590.6M

Positions

115

Top-10 Concentration

73.4%

Filings

Portfolio Value Over Time

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
ADD	VANGUARD CHARLOTTE FDS	92203J407	+87,137	+$4.2M	-$1.2M
REDUCE	VANGUARD INDEX FDS	922908736	-4,898	-$2.4M	+$1.1M
ADD	VANGUARD BD INDEX FDS	921937835	+18,689	+$1.4M	-$289,678
ADD	VANGUARD BD INDEX FDS	921937827	+8,265	+$651,365	-$45,699
ADD	VANGUARD INDEX FDS	922908744	+3,401	+$649,556	+$1.4M
ADD	ISHARES TR	464288414	+5,329	+$570,791	+$31,352
REDUCE	SPDR SER TR	78464A508	-8,185	-$464,993	+$115,687
ADD	TEXAS PACIFIC LAND CORPORATION	TPL	+1,428	+$410,150	-$461,544
ADD	VANGUARD SCOTTSDALE FDS	92206C870	+4,888	+$409,372	-$32,030
NEW	VANGUARD MALVERN FDS	922020748	+4,831	+$376,328	$0

Sector Allocation

Consumer Discretionary

0.7%$4.2M

0.6%$3.7M

0.6%$3.3M

0.5%$3.1M

0.5%$3.0M

0.2%$1.2M

0.2%$971,444

0.1%$699,098

0.1%$453,658

Communication Services

0.1%$407,276

Utilities

0.0%$208,059

Filing History

Feb 2, 202613F HOLDINGS REPORTQ/E Dec 2025115 pos · $590.6M
Nov 10, 202513F HOLDINGS REPORTQ/E Sep 2025115 pos · $578.5M
Aug 4, 202513F HOLDINGS REPORTQ/E Jun 2025107 pos · $542.3M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202590 pos · $350.1M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202590 pos · $317.8M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202595 pos · $320.4M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202592 pos · $319.5M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202594 pos · $314.6M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202592 pos · $326.8M
May 5, 202513F HOLDINGS REPORTQ/E Mar 202590 pos · $361.3M
Apr 30, 202513F HOLDINGS REPORTQ/E Mar 2025101 pos · $497.6M
Mar 4, 202513F HOLDINGS REPORTQ/E Mar 202596 pos · $388.5M
Feb 26, 202513F HOLDINGS REPORTQ/E Dec 2024103 pos · $426.0M
Feb 26, 202513F HOLDINGS REPORTQ/E Dec 202493 pos · $380.0M
Feb 26, 202513F HOLDINGS REPORTQ/E Dec 2024107 pos · $495.7M
Feb 26, 202513F HOLDINGS REPORTQ/E Dec 202494 pos · $392.7M
Feb 26, 202513F HOLDINGS REPORTQ/E Dec 2024104 pos · $460.1M
Feb 26, 202513F HOLDINGS REPORTQ/E Dec 2024103 pos · $449.3M
Feb 12, 202513F HOLDINGS REPORTQ/E Dec 2024107 pos · $490.2M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD BD INDEX FDS	921937835	984,315	$72.9M	13.01%
2	VANGUARD INDEX FDS	922908736	134,018	$65.4M	11.66%
3	VANGUARD INDEX FDS	922908744	304,877	$58.2M	10.39%
4	VANGUARD CHARLOTTE FDS	92203J407	1,163,482	$56.2M	10.03%
5	VANGUARD TAX-MANAGED FDS	921943858	777,465	$48.6M	8.66%
6	VANGUARD BD INDEX FDS	921937827	465,429	$36.7M	6.54%
7	VANGUARD INDEX FDS	922908611	101,609	$21.5M	3.84%
8	VANGUARD INDEX FDS	922908595	66,046	$20.0M	3.56%
9	VANGUARD INTL EQUITY INDEX F	922042858	307,263	$16.5M	2.95%
10	VANGUARD INTL EQUITY INDEX F	922042718	106,656	$15.3M	2.73%
11	VANGUARD INDEX FDS	922908553	155,736	$13.8M	2.46%
12	SPDR INDEX SHS FDS	78463X889	290,406	$12.9M	2.30%
13	VANGUARD INDEX FDS	922908769	35,535	$11.9M	2.13%
14	VANGUARD MUN BD FDS	922907746	230,186	$11.6M	2.06%
15	ISHARES TR	464288158	100,240	$10.7M	1.91%
16	VANGUARD SCOTTSDALE FDS	92206C870	93,834	$7.9M	1.40%
17	VANGUARD INDEX FDS	922908363	10,575	$6.6M	1.18%
18	ISHARES TR	464288414	55,813	$6.0M	1.07%
19	SPDR SER TR	78464A409	42,929	$4.6M	0.82%
20	VANGUARD INDEX FDS	922908629	14,162	$4.1M	0.73%