Castellan Group

LOUISVILLE, KY · CIK 1832521 · 13F filing filed 2026-07-23

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Others nearbyLouisville, KY

$910.0m reported value +25.9% vs Q1 2026

39positions

92.6%in top 10

11 new 9 added 15 reduced 6 sold out vs Q1 2026

Options: 0 call positions (— notional), 2 put positions ($2.0m notional) – listed below, not included above.

Also in the report of:

Empowered Funds, LLC – $2.8m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	EA SERIES TRUST CASTELLAN TARGET CTEF	CTEF	6,474,991	$611.0m67.14%	67.14%	Reduced -24.8k	-24,750 -0.4%
2	EA SERIES TRUST CASTELLAN TARGET CTIF	CTIF	3,441,216	$176.7m19.42%	19.42%	Added +137.5k	+137,506 4.2%
3	EA SERIES TRUST ALPHA ARCH 1-3 BOXX	BOXX	174,989	$20.5m2.25%	2.25%	Reduced -2.5k	-2,492 -1.4%
4	CARETRUST REIT INC COM CTRE	CTRE	130,431	$5.3m0.58%	0.58%	Added +252	+252 0.2%
5	LXP INDUSTRIAL TRUST COM LXP	LXP	95,074	$5.1m0.56%	0.56%	New
6	EDISON INTL COM EIX	EIX	68,216	$5.1m0.56%	0.56%	New
7	WEC ENERGY GROUP INC COM WEC	WEC	41,625	$4.9m0.53%	0.53%	Added +2.7k	+2,686 6.9%
8	EASTGROUP PPTYS INC COM EGP	EGP	23,817	$4.8m0.53%	0.53%	Reduced -106	-106 -0.4%
9	DELEK LOGISTICS PARTNERS LP COM UNT RP INT DKL	DKL	93,263	$4.8m0.53%	0.53%	Added +2.1k	+2,101 2.3%
10	FIRST INDL RLTY TR INC COM FR	FR	77,858	$4.8m0.52%	0.52%	Reduced -1.4k	-1,361 -1.7%
11	MPLX LP COM UNIT REP LTD MPLX	MPLX	82,931	$4.7m0.51%	0.51%	Added +5.9k	+5,878 7.6%
12	ABRDN PRECIOUS METALS BASKET PHYSCL PRECS MET GLTR	GLTR	25,490	$4.6m0.51%	0.51%	Added +2.6k	+2,608 11.4%
13	NEXTERA ENERGY INC COM NEE	NEE	52,238	$4.6m0.50%	0.50%	Reduced -1.9k	-1,857 -3.4%
14	GETTY RLTY CORP NEW COM GTY	GTY	136,677	$4.6m0.50%	0.50%	Added +2.4k	+2,376 1.8%
15	CLEARWAY ENERGY INC CL C CWEN	CWEN	133,280	$4.6m0.50%	0.50%	Reduced -8.9k	-8,950 -6.3%
16	BROOKFIELD INFRASTRUCTURE CO COM SUB VTG A BIPC	BIPC	118,241	$4.6m0.50%	0.50%	New
17	VICI PPTYS INC COM VICI	VICI	168,848	$4.5m0.49%	0.49%	New
18	ATMOS ENERGY CORP COM ATO	ATO	25,830	$4.4m0.49%	0.49%	Added +205	+205 0.8%
19	HESS MIDSTREAM LP CL A SHS HESM	HESM	113,021	$4.2m0.47%	0.47%	Added +14.1k	+14,149 14.3%
20	SELECT SECTOR SPDR TR ENERGY XLE	XLE	71,851	$3.8m0.42%	0.42%	Reduced -7.7k	-7,740 -9.7%
21	PGIM ROCK ETF TR S&P 500 BUFFER OCTP	OCTP	78,480	$2.5m0.28%	0.28%	Reduced -5.6k	-5,640 -6.7%
22	MICROSOFT CORP COM MSFT	MSFT	5,900	$2.2m0.24%	0.24%	Reduced -300	-300 -4.8%
23	BHP GROUP LTD SPONSORED ADS BHP	BHP	24,668	$2.1m0.23%	0.23%	Reduced -2.4k	-2,415 -8.9%
24	RIO TINTO PLC SPONSORED ADR RIO	RIO	19,719	$1.9m0.21%	0.21%	Reduced -1.8k	-1,829 -8.5%
25	EXXON MOBIL CORP COM XOM	XOM	13,453	$1.8m0.20%	0.20%	Reduced -1.4k	-1,409 -9.5%
26	CHEVRON CORP NEW COM CVX	CVX	10,867	$1.8m0.20%	0.20%	Reduced -514	-514 -4.5%
27	ISHARES TR CORE S&P500 ETF IVV	IVV	2,196	$1.6m0.18%	0.18%	New
28	INNOVATOR ETFS TRUST EQUITY DUAL NOV DDFN	DDFN	79,420	$1.6m0.18%	0.18%	Reduced -1.8k	-1,767 -2.2%
29	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	6,562	$1.4m0.15%	0.15%	New
30	ORACLE CORP COM ORCL	ORCL	7,600	$1.1m0.12%	0.12%	Unchanged
31	ISHARES TR MSCI EAFE ETF EFA	EFA	6,995	$726.6k0.08%	0.08%	New
32	ISHARES TR RUSSELL 2000 ETF IWM	IWM	2,297	$690.1k0.08%	0.08%	New
33	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	900	$672.1k0.07%	0.07%	Reduced -2.7k	-2,700 -75.0%
34	AMAZON COM INC COM AMZN	AMZN	2,400	$572.0k0.06%	0.06%	Unchanged
35	META PLATFORMS INC CL A META	META	1,000	$563.3k0.06%	0.06%	Unchanged
36	PROGRESSIVE CORP COM PGR	PGR	2,000	$436.9k0.05%	0.05%	Unchanged
37	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	3,105	$299.4k0.03%	0.03%	New
38	DELL TECHNOLOGIES INC CL C DELL	DELL	585	$252.4k0.03%	0.03%	New
39	MICRON TECHNOLOGY INC COM MU	MU	210	$242.4k0.03%	0.03%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
PORTLAND GEN ELEC CO POR	POR	94,433	$5.0m94.4k shares
NEW JERSEY RES CORP NJR	NJR	88,321	$4.9m88.3k shares
EVERSOURCE ENERGY ES	ES	65,923	$4.6m65.9k shares
TERRENO RLTY CORP TRNO	TRNO	72,689	$4.5m72.7k shares
STRIDE INC LRN	LRN	5,800	$511.4k5.8k shares
APPLE INC AAPL	AAPL	930	$236.0k930 shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	629	$1.3m629 shares	Added
INVESCO QQQ TR QQQ · Put	QQQ	Put	164	$774.4k164 shares	Reduced