<?xml version='1.0' encoding='utf-8'?>
<heldOrderRoutingPublicReport>
	<version>1.0</version>
	<bd>US Capital Advisors</bd>
	<year>2025</year>
	<qtr>4</qtr>
	<rMonthly>
		<year>2025</year>
		<mon>10</mon>
		<rSP500>
			<ndoPct>100.00</ndoPct>
			<ndoMarketPct>0.00</ndoMarketPct>
			<ndoMarketableLimitPct>0.00</ndoMarketableLimitPct>
			<ndoNonmarketableLimitPct>0.00</ndoNonmarketableLimitPct>
			<ndoOtherPct>100.00</ndoOtherPct>
			<rVenues>
				<rVenue>
					<name>CPEX</name>
					<mic>CPEX</mic>
					<orderPct>42.75</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>29.6162</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>2.1324</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
				<rVenue>
					<name>RAJA</name>
					<mic>RAJA</mic>
					<orderPct>57.25</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>0.0000</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.0000</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
			</rVenues>
		</rSP500>
		<rOtherStocks>
			<ndoPct>100.00</ndoPct>
			<ndoMarketPct>0.00</ndoMarketPct>
			<ndoMarketableLimitPct>0.00</ndoMarketableLimitPct>
			<ndoNonmarketableLimitPct>0.00</ndoNonmarketableLimitPct>
			<ndoOtherPct>100.00</ndoOtherPct>
			<rVenues>
				<rVenue>
					<name>CPEX</name>
					<mic>CPEX</mic>
					<orderPct>24.32</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>3.8646</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.1456</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
				<rVenue>
					<name>RAJA</name>
					<mic>RAJA</mic>
					<orderPct>75.68</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>0.0000</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.0000</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
			</rVenues>
		</rOtherStocks>
	</rMonthly>
	<rMonthly>
		<year>2025</year>
		<mon>11</mon>
		<rSP500>
			<ndoPct>100.00</ndoPct>
			<ndoMarketPct>0.00</ndoMarketPct>
			<ndoMarketableLimitPct>0.00</ndoMarketableLimitPct>
			<ndoNonmarketableLimitPct>0.00</ndoNonmarketableLimitPct>
			<ndoOtherPct>100.00</ndoOtherPct>
			<rVenues>
				<rVenue>
					<name>CPEX</name>
					<mic>CPEX</mic>
					<orderPct>58.55</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>5.9380</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>1.0373</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
				<rVenue>
					<name>RAJA</name>
					<mic>RAJA</mic>
					<orderPct>41.45</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>0.0000</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.0000</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
			</rVenues>
		</rSP500>
		<rOtherStocks>
			<ndoPct>100.00</ndoPct>
			<ndoMarketPct>0.00</ndoMarketPct>
			<ndoMarketableLimitPct>0.00</ndoMarketableLimitPct>
			<ndoNonmarketableLimitPct>0.00</ndoNonmarketableLimitPct>
			<ndoOtherPct>100.00</ndoOtherPct>
			<rVenues>
				<rVenue>
					<name>CPEX</name>
					<mic>CPEX</mic>
					<orderPct>33.13</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>51.6533</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.6025</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
				<rVenue>
					<name>RAJA</name>
					<mic>RAJA</mic>
					<orderPct>66.87</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>0.0000</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.0000</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
			</rVenues>
		</rOtherStocks>
	</rMonthly>
	<rMonthly>
		<year>2025</year>
		<mon>12</mon>
		<rSP500>
			<ndoPct>100.00</ndoPct>
			<ndoMarketPct>0.00</ndoMarketPct>
			<ndoMarketableLimitPct>0.00</ndoMarketableLimitPct>
			<ndoNonmarketableLimitPct>0.00</ndoNonmarketableLimitPct>
			<ndoOtherPct>100.00</ndoOtherPct>
			<rVenues>
				<rVenue>
					<name>CPEX</name>
					<mic>CPEX</mic>
					<orderPct>16.48</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>20.4365</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.4163</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
				<rVenue>
					<name>RAJA</name>
					<mic>RAJA</mic>
					<orderPct>83.52</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>0.0000</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.0000</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
			</rVenues>
		</rSP500>
		<rOtherStocks>
			<ndoPct>100.00</ndoPct>
			<ndoMarketPct>0.00</ndoMarketPct>
			<ndoMarketableLimitPct>0.00</ndoMarketableLimitPct>
			<ndoNonmarketableLimitPct>0.00</ndoNonmarketableLimitPct>
			<ndoOtherPct>100.00</ndoOtherPct>
			<rVenues>
				<rVenue>
					<name>CPEX</name>
					<mic>CPEX</mic>
					<orderPct>34.14</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>-99.3288</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>-1.9141</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
				<rVenue>
					<name>RAJA</name>
					<mic>RAJA</mic>
					<orderPct>65.86</orderPct>
					<marketPct>0.00</marketPct>
					<marketableLimitPct>0.00</marketableLimitPct>
					<nonMarketableLimitPct>0.00</nonMarketableLimitPct>
					<otherPct>100.00</otherPct>
					<netPmtPaidRecvMarketOrdersUsd>0.0000</netPmtPaidRecvMarketOrdersUsd>
					<netPmtPaidRecvMarketOrdersCph>0.0000</netPmtPaidRecvMarketOrdersCph>
					<netPmtPaidRecvMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvMarketableLimitOrdersUsd>
					<netPmtPaidRecvMarketableLimitOrdersCph>0.0000</netPmtPaidRecvMarketableLimitOrdersCph>
					<netPmtPaidRecvNonMarketableLimitOrdersUsd>0.0000</netPmtPaidRecvNonMarketableLimitOrdersUsd>
					<netPmtPaidRecvNonMarketableLimitOrdersCph>0.0000</netPmtPaidRecvNonMarketableLimitOrdersCph>
					<netPmtPaidRecvOtherOrdersUsd>0.0000</netPmtPaidRecvOtherOrdersUsd>
					<netPmtPaidRecvOtherOrdersCph>0.0000</netPmtPaidRecvOtherOrdersCph>
					<materialAspects>NA</materialAspects>
				</rVenue>
			</rVenues>
		</rOtherStocks>
	</rMonthly>
</heldOrderRoutingPublicReport>