# Note Advisors, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2056243. Source: https://holderbook.com/funds/2056243-note-advisors-llc/

- Reported value: $230.6M
- Positions: 86
- Weight of the ten largest: 65.2%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $54.8M | 1,060,382 | 23.8% | 7 |
| DIMENSIONAL ETF TRUST | [DFCF](https://holderbook.com/stocks/DFCF/) | $24.4M | 579,174 | 10.6% | 7 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $19.1M | 462,050 | 8.3% | 7 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $11.2M | 253,344 | 4.9% | 7 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $9.2M | 125,032 | 4.0% | 7 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $7.6M | 190,093 | 3.3% | 7 |
| VANGUARD SCOTTSDALE FDS | [VONE](https://holderbook.com/stocks/VONE/) | $7.2M | 21,373 | 3.1% | 7 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $5.9M | 61,419 | 2.6% | 7 |
| ISHARES TR | [NYF](https://holderbook.com/stocks/NYF/) | $5.4M | 100,569 | 2.4% | 7 |
| VANGUARD WHITEHALL FDS | [VYMI](https://holderbook.com/stocks/VYMI/) | $5.3M | 54,128 | 2.3% | 7 |
| FIRST TR EXCH TRADED FD III | [FPE](https://holderbook.com/stocks/FPE/) | $4.2M | 235,753 | 1.8% | 2 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $4.2M | 38,208 | 1.8% | 7 |
| DIMENSIONAL ETF TRUST | [DFGX](https://holderbook.com/stocks/DFGX/) | $3.7M | 68,806 | 1.6% | 7 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $3.5M | 72,898 | 1.5% | 7 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $3.2M | 45,281 | 1.4% | 7 |
| SPDR SERIES TRUST | [SPIP](https://holderbook.com/stocks/SPIP/) | $3.1M | 120,853 | 1.3% | 7 |
| DIMENSIONAL ETF TRUST | [DFAR](https://holderbook.com/stocks/DFAR/) | $3.0M | 114,242 | 1.3% | 7 |
| DIMENSIONAL ETF TRUST | [DFNM](https://holderbook.com/stocks/DFNM/) | $3.0M | 61,502 | 1.3% | 7 |
| GLOBAL X FDS | [QYLD](https://holderbook.com/stocks/QYLD/) | $2.8M | 152,902 | 1.2% | 7 |
| DIMENSIONAL ETF TRUST | [DCOR](https://holderbook.com/stocks/DCOR/) | $2.7M | 33,347 | 1.2% | 7 |
| ISHARES U S ETF TR | [COMT](https://holderbook.com/stocks/COMT/) | $2.4M | 80,288 | 1.1% | 7 |
| SCHWAB STRATEGIC TR | [SCHD](https://holderbook.com/stocks/SCHD/) | $2.4M | 76,417 | 1.1% | 7 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $2.3M | 41,575 | 1.0% | 7 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $2.3M | 9,769 | 1.0% | 7 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.2M | 6,326 | 1.0% | 7 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $1.9M | 38,465 | 0.8% | 7 |
| INVESCO EXCH TRADED FD TR II | [PZT](https://holderbook.com/stocks/PZT/) | $1.9M | 81,448 | 0.8% | 7 |
| ISHARES INC | [EMHY](https://holderbook.com/stocks/EMHY/) | $1.5M | 36,663 | 0.6% | 1 |
| ISHARES TR | [IXUS](https://holderbook.com/stocks/IXUS/) | $1.3M | 13,852 | 0.6% | 7 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $1.3M | 3,165 | 0.6% | 7 |
| DIMENSIONAL ETF TRUST | [DFIC](https://holderbook.com/stocks/DFIC/) | $1.2M | 32,307 | 0.5% | 3 |
| SPDR SERIES TRUST | [SPHY](https://holderbook.com/stocks/SPHY/) | $1.2M | 50,622 | 0.5% | 6 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $1.2M | 10,763 | 0.5% | 7 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.1M | 3,791 | 0.5% | 7 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $1.1M | 4,027 | 0.5% | 7 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $1.0M | 9,677 | 0.5% | 7 |
| ISHARES TR | [IAGG](https://holderbook.com/stocks/IAGG/) | $978.2K | 19,332 | 0.4% | 7 |
| GOLDMAN SACHS ETF TR | [GIGB](https://holderbook.com/stocks/GIGB/) | $916.9K | 19,971 | 0.4% | 7 |
| NBT BANCORP INC | [NBTB](https://holderbook.com/stocks/NBTB/) | $891.0K | 18,048 | 0.4% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $792.6K | 2,125 | 0.3% | 7 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $790.5K | 5,813 | 0.3% | 7 |
| VANGUARD SCOTTSDALE FDS | [VTC](https://holderbook.com/stocks/VTC/) | $715.0K | 9,310 | 0.3% | 7 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $631.0K | 10,571 | 0.3% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $585.0K | 1,637 | 0.3% | 7 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $565.5K | 1,497 | 0.2% | 7 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $512.5K | 696 | 0.2% | 6 |
| VANGUARD SCOTTSDALE FDS | [VTWV](https://holderbook.com/stocks/VTWV/) | $493.9K | 2,527 | 0.2% | 7 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $486.1K | 5,686 | 0.2% | 7 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $479.2K | 2,199 | 0.2% | 7 |
| BONDBLOXX ETF TRUST | [XHLF](https://holderbook.com/stocks/XHLF/) | $473.6K | 9,416 | 0.2% | 4 |
| GLOBAL X FDS | [XYLD](https://holderbook.com/stocks/XYLD/) | $451.0K | 11,057 | 0.2% | 7 |
| VANGUARD INDEX FDS | [VOE](https://holderbook.com/stocks/VOE/) | $447.2K | 2,263 | 0.2% | 7 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $426.9K | 853 | 0.2% | 7 |
| DIMENSIONAL ETF TRUST | [DFIP](https://holderbook.com/stocks/DFIP/) | $422.8K | 10,249 | 0.2% | 7 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $420.6K | 1,059 | 0.2% | 7 |
| VANGUARD WHITEHALL FDS | [VWOB](https://holderbook.com/stocks/VWOB/) | $419.4K | 6,238 | 0.2% | 7 |
| SCHWAB STRATEGIC TR | [SCHZ](https://holderbook.com/stocks/SCHZ/) | $415.9K | 17,981 | 0.2% | 7 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $395.5K | 1,660 | 0.2% | 7 |
| SCHWAB STRATEGIC TR | [SCHR](https://holderbook.com/stocks/SCHR/) | $369.1K | 14,968 | 0.2% | 7 |
| M & T BK CORP | [MTB](https://holderbook.com/stocks/MTB/) | $366.3K | 1,539 | 0.2% | 7 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $365.7K | 3,695 | 0.2% | 7 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $365.6K | 3,632 | 0.2% | 7 |
| GLOBAL X FDS | [PFFD](https://holderbook.com/stocks/PFFD/) | $339.0K | 18,138 | 0.1% | 7 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $329.0K | 584 | 0.1% | 7 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $324.6K | 4,745 | 0.1% | 7 |
| ISHARES TR | [ESGU](https://holderbook.com/stocks/ESGU/) | $323.1K | 1,974 | 0.1% | 7 |
| SSGA ACTIVE TR | [EMTL](https://holderbook.com/stocks/EMTL/) | $305.5K | 7,154 | 0.1% | 7 |
| ABRDN ETFS | [BCD](https://holderbook.com/stocks/BCD/) | $305.4K | 8,944 | 0.1% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $287.1K | 814 | 0.1% | 7 |
| ISHARES TR | [DGRO](https://holderbook.com/stocks/DGRO/) | $277.2K | 3,657 | 0.1% | 7 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $272.6K | 4,484 | 0.1% | 5 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $262.8K | 803 | 0.1% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $256.0K | 1,872 | 0.1% | 7 |
| ISHARES TR | [HDV](https://holderbook.com/stocks/HDV/) | $254.1K | 9,271 | 0.1% | 7 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $242.8K | 1,735 | 0.1% | 4 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $242.6K | 2,142 | 0.1% | 5 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $241.3K | 652 | 0.1% | 4 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $232.0K | 552 | 0.1% | 4 |
| SPDR SERIES TRUST | [MDYV](https://holderbook.com/stocks/MDYV/) | $227.9K | 2,403 | 0.1% | 4 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $227.4K | 2,764 | 0.1% | 7 |
| MORGAN STANLEY ETF TRUST | [EVSD](https://holderbook.com/stocks/EVSD/) | $221.9K | 4,364 | 0.1% | 3 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $221.4K | 2,519 | 0.1% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $212.0K | 1,060 | 0.1% | 2 |
| ISHARES TR | [ICF](https://holderbook.com/stocks/ICF/) | $208.2K | 3,079 | 0.1% | 3 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $202.7K | 6,887 | 0.1% | 1 |
| CENCORA INC | [COR](https://holderbook.com/stocks/COR/) | $201.5K | 712 | 0.1% | 6 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.4% | +14.8% | -7.4% | 100% |
| Q1 2026 | -0.7% | -4.6% | +3.9% | 98% |
| Q4 2025 | +1.4% | +2.4% | -0.9% | 100% |
| Q3 2025 | +5.2% | +7.8% | -2.7% | 100% |
| Q2 2025 | +5.2% | +10.5% | -5.2% | 100% |
| Q1 2025 | -0.9% | -4.6% | +3.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $230.6M | 86 |
| Q1 2026 | $200.1M | 85 |
| Q4 2025 | $194.9M | 82 |
| Q3 2025 | $168.2M | 83 |
| Q2 2025 | $144.6M | 74 |
| Q1 2025 | $121.1M | 74 |
| Q4 2024 | $112.9M | 75 |