Portfolio (Quarterly) Guide ↗

TRAPHAGEN INVESTMENT ADVISORS LLC

· CIK 0002023380

13F Portfolio $1.2B AUM 196 positions Filed Jan 27, 2026 EDGAR ↗ ← All Funds

Q4 2025 Q3 2025 · All 14 New 83 Added 46 Reduced 10 Exited

#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
1	—	BLUEROCK PVT REAL ESTATE FD	—	1,147,161.0	$17.2M	1.42%	NEW	—	$15.00	—
2	WTW	WILLIS TOWERS WATSON PLC LTD	Financial Services	1,786.0	$587K	0.05%	NEW	—	$328.60	-24.6%
3	TKO	TKO GROUP HOLDINGS INC	Communication Services	2,379.0	$497K	0.04%	NEW	—	$208.96	-7.9%
4	ALAI	THE ALGER ETF TRUST	—	11,846.0	$428K	0.04%	NEW	—	$36.11	+18.3%
5	—	UNILEVER PLC	—	4,777.0	$312K	0.03%	NEW	—	$65.40	—
6	VEU	VANGUARD INTL EQUITY INDEX F	—	3,333.0	$245K	0.02%	NEW	—	$73.57	+10.1%
7	AVGO	BROADCOM INC	Technology	653.0	$226K	0.02%	NEW	—	$346.18	+22.8%
8	DGRO	ISHARES TR	—	3,256.0	$226K	0.02%	NEW	—	$69.41	+5.7%
9	TGT	TARGET CORP	Consumer Defensive	2,307.0	$226K	0.02%	NEW	—	$97.75	+25.9%
10	GDLC	GRAYSCALE COINDESK CRYPTO	Financial Services	5,446.0	$225K	0.02%	NEW	—	$41.32	-11.4%
11	SMH	VANECK ETF TRUST	—	591.0	$213K	0.02%	NEW	—	$360.43	+54.4%
12	—	NEBIUS GROUP N.V.	—	2,481.0	$208K	0.02%	NEW	—	$83.71	—
13	EFA	ISHARES TR	—	2,130.0	$205K	0.02%	NEW	—	$96.01	+5.9%
14	DYAI	DYADIC INTL INC DEL	Healthcare	13,000.0	$12K	0.00%	NEW	—	$0.94	-23.2%

① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Financial Services 34.8%

Technology 30.6%

Communication Services 7.6%

Consumer Cyclical 6.4%

Healthcare 5.3%

Industrials 4.7%

Consumer Defensive 4.1%

Utilities 3.7%

Energy 2.5%

Basic Materials 0.3%