Note Advisors, LLC

BUFFALO, NY · CIK 2056243 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2014 · limited liability company

Assets managed$437.0m
Staff11 · 6 in investment roles
Main clients (by assets)High net worth individuals 44%, Individuals 40%, Pension plans 17%
Websitenoteadvisor.com
Form ADV · 2026-03-30SEC adviser record

$230.6m reported value +15.2% vs Q1 2026

86positions

65.2%in top 10

3 new 32 added 35 reduced 2 sold out vs Q1 2026

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	DIMENSIONAL ETF TRUST US CORE EQT MKT DFAU	DFAU	1,060,382	$54.8m23.77%	23.77%	Added +123.3k	+123,301 13.2%
2	DIMENSIONAL ETF TRUST CORE FIXED INCOM DFCF	DFCF	579,174	$24.4m10.60%	10.60%	Added +102.6k	+102,597 21.5%
3	DIMENSIONAL ETF TRUST INTL CORE EQT MK DFAI	DFAI	462,050	$19.1m8.27%	8.27%	Added +52.6k	+52,605 12.8%
4	DIMENSIONAL ETF TRUST US CORE EQUITY 2 DFAC	DFAC	253,344	$11.2m4.87%	4.87%	Added +3.0k	+3,008 1.2%
5	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	125,032	$9.2m3.98%	3.98%	Added +8.2k	+8,187 7.0%
6	DIMENSIONAL ETF TRUST EMGR CRE EQT MNG DFAE	DFAE	190,093	$7.6m3.32%	3.32%	Added +4.5k	+4,529 2.4%
7	VANGUARD SCOTTSDALE FDS VNG RUS1000IDX VONE	VONE	21,373	$7.2m3.14%	3.14%	Reduced -696	-696 -3.1%
8	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	61,419	$5.9m2.57%	2.57%	Added +386	+386 0.6%
9	ISHARES TR NEW YORK MUN ETF NYF	NYF	100,569	$5.4m2.35%	2.35%	Added +4.2k	+4,224 4.4%
10	VANGUARD WHITEHALL FDS INTL HIGH ETF VYMI	VYMI	54,128	$5.3m2.31%	2.31%	Added +1.9k	+1,883 3.6%
11	FIRST TR EXCH TRADED FD III PFD SECS INC ETF FPE	FPE	235,753	$4.2m1.83%	1.83%	Added +21.5k	+21,512 10.0%
12	ISHARES TR IBOXX INV CP ETF LQD	LQD	38,208	$4.2m1.81%	1.81%	Added +3.2k	+3,221 9.2%
13	DIMENSIONAL ETF TRUST GLOBAL EX US COR DFGX	DFGX	68,806	$3.7m1.60%	1.60%	Added +7.4k	+7,376 12.0%
14	VANGUARD CHARLOTTE FDS TOTAL INT BD ETF BNDX	BNDX	72,898	$3.5m1.53%	1.53%	Reduced -1.1k	-1,076 -1.4%
15	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	45,281	$3.2m1.40%	1.40%	Added +391	+391 0.9%
16	SPDR SER TR PORTFLI TIPS ETF SPIP	SPIP	120,853	$3.1m1.35%	1.35%	Added +6.0k	+6,003 5.2%
17	DIMENSIONAL ETF TRUST US REAL ESTATE E US REAL ESTATE E		114,242	$3.0m1.30%	1.30%	Added +18.5k	+18,547 19.4%
18	DIMENSIONAL ETF TRUST NATL MUN BD ETF DFNM	DFNM	61,502	$3.0m1.29%	1.29%	Added +3.8k	+3,781 6.5%
19	GLOBAL X FDS NASDAQ 100 COVER QYLD	QYLD	152,902	$2.8m1.22%	1.22%	Added +3.5k	+3,494 2.3%
20	DIMENSIONAL ETF TRUST US CORE EQUITY 1 US CORE EQUITY 1		33,347	$2.7m1.19%	1.19%	Added +3.1k	+3,053 10.1%
21	ISHARES U S ETF TR GSCI CMDTY STGY COMT	COMT	80,288	$2.4m1.06%	1.06%	Added +6.3k	+6,283 8.5%
22	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	76,417	$2.4m1.05%	1.05%	Added +2.0k	+1,954 2.6%
23	J P MORGAN EXCHANGE TRADED F EQUITY PREMIUM JEPI	JEPI	41,575	$2.3m1.02%	1.02%	Added +2.3k	+2,286 5.8%
24	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	9,769	$2.3m1.00%	1.00%	Added +329	+329 3.5%
25	ALPHABET INC CAP STK CL C GOOG	GOOG	6,326	$2.2m0.97%	0.97%	Reduced -30	-30 -0.5%
26	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	38,465	$1.9m0.84%	0.84%	Added +3.0k	+2,971 8.4%
27	INVESCO EXCH TRADED FD TR II NY AMT FRE MUN PZT	PZT	81,448	$1.9m0.80%	0.80%	Added +8.2k	+8,250 11.3%
28	ISHARES INC JP MRGN EM HI BD EMHY	EMHY	36,663	$1.5m0.65%	0.65%	New
29	ISHARES TR CORE MSCI TOTAL IXUS	IXUS	13,852	$1.3m0.57%	0.57%	Reduced -4	-4 -0.0%
30	ISHARES TR RUS 1000 ETF IWB	IWB	3,165	$1.3m0.56%	0.56%	Reduced -3	-3 -0.1%
31	DIMENSIONAL ETF TRUST INTL CORE EQUITY DFIC	DFIC	32,307	$1.2m0.52%	0.52%	Added +38	+38 0.1%
32	SPDR SERIES TRUST PORTFLI HIGH YLD SPHY	SPHY	50,622	$1.2m0.51%	0.51%	Added +2.8k	+2,752 5.8%
33	ISHARES TR TIPS BD ETF TIP	TIP	10,763	$1.2m0.51%	0.51%	Reduced -669	-669 -5.8%
34	APPLE INC COM AAPL	AAPL	3,791	$1.1m0.48%	0.48%	Reduced -80	-80 -2.1%
35	MCDONALDS CORP COM MCD	MCD	4,027	$1.1m0.47%	0.47%	Unchanged
36	ISHARES TR NATIONAL MUN ETF MUB	MUB	9,677	$1.0m0.45%	0.45%	Reduced -151	-151 -1.5%
37	ISHARES TR CORE INTL AGGR IAGG	IAGG	19,332	$978.2k0.42%	0.42%	Reduced -601	-601 -3.0%
38	GOLDMAN SACHS ETF TR ACCESS INVT GR GIGB	GIGB	19,971	$916.9k0.40%	0.40%	Reduced -2.6k	-2,580 -11.4%
39	NBT BANCORP INC COM NBTB	NBTB	18,048	$891.0k0.39%	0.39%	Added +169	+169 0.9%
40	MICROSOFT CORP COM MSFT	MSFT	2,125	$792.6k0.34%	0.34%	Reduced -343	-343 -13.9%
41	UNITED AIRLS HLDGS INC COM UAL	UAL	5,813	$790.5k0.34%	0.34%	Reduced -71	-71 -1.2%
42	VANGUARD SCOTTSDALE FDS TOTAL CORP BND VTC	VTC	9,310	$715.0k0.31%	0.31%	Unchanged
43	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	10,571	$631.0k0.27%	0.27%	Reduced -76	-76 -0.7%
44	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,637	$585.0k0.25%	0.25%	Reduced -80	-80 -4.7%
45	BROADCOM INC COM AVGO	AVGO	1,497	$565.5k0.25%	0.25%	Unchanged
46	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	696	$512.5k0.22%	0.22%	Unchanged
47	VANGUARD SCOTTSDALE FDS VNG RUS2000VAL VTWV	VTWV	2,527	$493.9k0.21%	0.21%	Added +37	+37 1.5%
48	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	5,686	$486.1k0.21%	0.21%	Unchanged
49	VANGUARD INDEX FDS VALUE ETF VTV	VTV	2,199	$479.2k0.21%	0.21%	Reduced -6	-6 -0.3%
50	BONDBLOXX ETF TRUST BLOOMBERG SIX MN XHLF	XHLF	9,416	$473.6k0.21%	0.21%	Reduced -9.3k	-9,271 -49.6%
51	GLOBAL X FDS S&P 500 COVERED XYLD	XYLD	11,057	$451.0k0.20%	0.20%	Reduced -751	-751 -6.4%
52	VANGUARD INDEX FDS MCAP VL IDXVIP VOE	VOE	2,263	$447.2k0.19%	0.19%	Reduced -11	-11 -0.5%
53	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	853	$426.9k0.19%	0.19%	Reduced -6	-6 -0.7%
54	DIMENSIONAL ETF TRUST INFLATION PROTE DFIP	DFIP	10,249	$422.8k0.18%	0.18%	Unchanged
55	ANALOG DEVICES INC COM ADI	ADI	1,059	$420.6k0.18%	0.18%	Reduced -31	-31 -2.8%
56	VANGUARD WHITEHALL FDS EM MK GOV BD ETF VWOB	VWOB	6,238	$419.4k0.18%	0.18%	Reduced -4.4k	-4,385 -41.3%
57	SCHWAB STRATEGIC TR US AGGREGATE B SCHZ	SCHZ	17,981	$415.9k0.18%	0.18%	Added +401	+401 2.3%
58	AMAZON COM INC COM AMZN	AMZN	1,660	$395.5k0.17%	0.17%	Reduced -304	-304 -15.5%
59	SCHWAB STRATEGIC TR INT-TRM U.S TRES SCHR	SCHR	14,968	$369.1k0.16%	0.16%	Unchanged
60	M & T BK CORP COM MTB	MTB	1,539	$366.3k0.16%	0.16%	Reduced -23	-23 -1.5%
61	ISHARES TR CORE US AGGBD ET AGG	AGG	3,695	$365.7k0.16%	0.16%	Added +35	+35 1.0%
62	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	3,632	$365.6k0.16%	0.16%	Unchanged
63	GLOBAL X FDS US PFD ETF PFFD	PFFD	18,138	$339.0k0.15%	0.15%	Reduced -3.3k	-3,278 -15.3%
64	META PLATFORMS INC CL A META	META	584	$329.0k0.14%	0.14%	Added +36	+36 6.6%
65	ISHARES TR MSCI EMG MKT ETF EEM	EEM	4,745	$324.6k0.14%	0.14%	Unchanged
66	ISHARES TR ESG AWR MSCI USA ESGU	ESGU	1,974	$323.1k0.14%	0.14%	Unchanged
67	SSGA ACTIVE TR SPDR DBLELN EMRG EMTL	EMTL	7,154	$305.5k0.13%	0.13%	Reduced -25.7k	-25,718 -78.2%
68	ABRDN ETFS BBRG ALL COMMDY BCD	BCD	8,944	$305.4k0.13%	0.13%	Added +2.0k	+1,951 27.9%
69	HOME DEPOT INC COM HD	HD	814	$287.1k0.12%	0.12%	Reduced -148	-148 -15.4%
70	ISHARES TR CORE DIV GRWTH DGRO	DGRO	3,657	$277.2k0.12%	0.12%	Reduced -28	-28 -0.8%
71	SPDR SERIES TRUST PRTFLO S&P500 VL SPYV	SPYV	4,484	$272.6k0.12%	0.12%	Unchanged
72	JPMORGAN CHASE & CO COM JPM	JPM	803	$262.8k0.11%	0.11%	Reduced -25	-25 -3.0%
73	EXXON MOBIL CORP COM XOM	XOM	1,872	$256.0k0.11%	0.11%	Unchanged
74	ISHARES TR CORE HIGH DV ETF HDV	HDV	9,271	$254.1k0.11%	0.11%	Reduced -214	-214 -2.3%
75	CITIGROUP INC COM NEW C	C	1,735	$242.8k0.11%	0.11%	Reduced -128	-128 -6.9%
76	WALMART INC COM WMT	WMT	2,142	$242.6k0.11%	0.11%	Unchanged
77	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	652	$241.3k0.10%	0.10%	Reduced -1.1k	-1,120 -63.2%
78	TESLA INC COM TSLA	TSLA	552	$232.0k0.10%	0.10%	Unchanged
79	SPDR SER TR S&P 400 MDCP VAL MDYV	MDYV	2,403	$227.9k0.10%	0.10%	Unchanged
80	ISHARES TR EAFE SML CP ETF SCZ	SCZ	2,764	$227.4k0.10%	0.10%	Reduced -6	-6 -0.2%
81	MORGAN STANLEY ETF TRUST EATON VANCE SHOR EVSD	EVSD	4,364	$221.9k0.10%	0.10%	Unchanged
82	SPDR SERIES TRUST PORTFOLIO S&P500 SPYM	SPYM	2,519	$221.4k0.10%	0.10%	New
83	NVIDIA CORPORATION COM NVDA	NVDA	1,060	$212.0k0.09%	0.09%	Reduced -370	-370 -25.9%
84	ISHARES TR COHEN STEER REIT ICF	ICF	3,079	$208.2k0.09%	0.09%	Reduced -573	-573 -15.7%
85	SCHWAB STRATEGIC TR US LRG CAP ETF SCHX	SCHX	6,887	$202.7k0.09%	0.09%	New
86	CENCORA INC COM COR	COR	712	$201.5k0.09%	0.09%	Reduced -21	-21 -2.9%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
ABRDN PRECIOUS METALS BASKET GLTR	GLTR	1,044	$228.3k1.0k shares
VANECK ETF TRUST ANGL	ANGL	7,472	$214.6k7.5k shares