# EDGAR Filing Document

**Accession Number:** 0001727593
**File Stem:** 0001727593-25-000002
**Filing Date:** 2025-11
**Character Count:** 17771
**Document Hash:** a6fd2d38a5055576a070045ced986019
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001727593-25-000002.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0001727593-25-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**EFFECTIVENESS DATE**: 20251113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** White Lighthouse Investment Management Inc.
- **CENTRAL INDEX KEY:** 0001727593

**ORGANIZATION NAME:**
- **EIN:** 464219717
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18193
- **FILM NUMBER:** 251477022

**BUSINESS ADDRESS:**
- **STREET 1:** 5 DUTTON LANE
- **CITY:** BEDFORD
- **STATE:** MA
- **ZIP:** 01730
- **BUSINESS PHONE:** 5084714431

**MAIL ADDRESS:**
- **STREET 1:** 5 DUTTON LANE
- **CITY:** BEDFORD
- **STATE:** MA
- **ZIP:** 01730

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** White Lighthouse Investment Management Inc.<br>**Address:** 5 DUTTON LANE<br>BEDFORD, MA 01730

**Form 13F File Number:** 028-18193

**CRD Number (if applicable):** 000108030

**SEC File Number (if applicable):** 801-79053

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jonathan Lachowitz<br>**Title:** Owner<br>**Phone:** 508 471-4431

**Signature, Place, and Date of Signing:**

/s/Jonathan Lachowitz  Bedford, MA  10-21-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 139

**Form 13F Information Table Value Total:** $655990102

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 426422 | 5835 | SH |  | SOLE |  | 5835 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1881087 | 7738 | SH |  | SOLE |  | 7738 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 721572 | 2963 | SH |  | SOLE |  | 2963 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 607187 | 9191 | SH |  | SOLE |  | 9191 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 2540864 | 11572 | SH |  | SOLE |  | 11572 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 977823 | 3465 | SH |  | SOLE |  | 3465 | 0 | 0 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 |  | 356651 | 17647 | SH |  | SOLE |  | 17647 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 6059001 | 23795 | SH |  | SOLE |  | 23795 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 345608 | 357 | SH |  | SOLE |  | 357 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 2510892 | 32728 | SH |  | SOLE |  | 32728 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2257303 | 4490 | SH |  | SOLE |  | 4490 | 0 | 0 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 650977 | 12264 | SH |  | SOLE |  | 12264 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 458578 | 1390 | SH |  | SOLE |  | 1390 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 1179078 | 2471 | SH |  | SOLE |  | 2471 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 254963 | 1642 | SH |  | SOLE |  | 1642 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 461151 | 6740 | SH |  | SOLE |  | 6740 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 275106 | 297 | SH |  | SOLE |  | 297 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 212626 | 465 | SH |  | SOLE |  | 465 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 648720 | 8342 | SH |  | SOLE |  | 8342 | 0 | 0 |
| ETFS GOLD TR | PHYSCL GOLD SHS | 00326A104 |  | 1359945 | 36945 | SH |  | SOLE |  | 36945 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 347548 | 3082 | SH |  | SOLE |  | 3082 | 0 | 0 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA US LG | 381430503 |  | 210663 | 1617 | SH |  | SOLE |  | 1617 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 306850 | 757 | SH |  | SOLE |  | 757 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 201254 | 450 | SH |  | SOLE |  | 450 | 0 | 0 |
| INVESCO ACTVELY MNGD ETC FD | OPTIMUM YIELD | 46090F100 |  | 180701 | 13455 | SH |  | SOLE |  | 13455 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 5392849 | 8983 | SH |  | SOLE |  | 8983 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 15692559 | 215646 | SH |  | SOLE |  | 215646 | 0 | 0 |
| ISHARES INC | ESG AWR MSCI EM | 46434G863 |  | 739716 | 17036 | SH |  | SOLE |  | 17036 | 0 | 0 |
| ISHARES INC | MSCI GBL GOLD MN | 46434G855 |  | 295595 | 4568 | SH |  | SOLE |  | 4568 | 0 | 0 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 15581690 | 188686 | SH |  | SOLE |  | 188686 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 798538 | 6720 | SH |  | SOLE |  | 6720 | 0 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 1684174 | 10236 | SH |  | SOLE |  | 10236 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1453452 | 2172 | SH |  | SOLE |  | 2172 | 0 | 0 |
| ISHARES TR | CORE TOTAL USD | 46434V613 |  | 3920205 | 83926 | SH |  | SOLE |  | 83926 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 279597 | 2789 | SH |  | SOLE |  | 2789 | 0 | 0 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 1809298 | 19459 | SH |  | SOLE |  | 19459 | 0 | 0 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 2522957 | 17328 | SH |  | SOLE |  | 17328 | 0 | 0 |
| ISHARES TR | ESG AWRE USD ETF | 46435G193 |  | 892194 | 37869 | SH |  | SOLE |  | 37869 | 0 | 0 |
| ISHARES TR | ESG MSCI KLD 400 | 464288570 |  | 1611032 | 12791 | SH |  | SOLE |  | 12791 | 0 | 0 |
| ISHARES TR | ESG OPTIMIZED | 464288802 |  | 312157 | 2304 | SH |  | SOLE |  | 2304 | 0 | 0 |
| ISHARES TR | EXPND TEC SC ETF | 464287549 |  | 12939497 | 102735 | SH |  | SOLE |  | 102735 | 0 | 0 |
| ISHARES TR | GL CLEAN ENE ETF | 464288224 |  | 317003 | 20478 | SH |  | SOLE |  | 20478 | 0 | 0 |
| ISHARES TR | GLOB HLTHCRE ETF | 464287325 |  | 1610314 | 18171 | SH |  | SOLE |  | 18171 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 341485 | 4206 | SH |  | SOLE |  | 4206 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 1486000 | 10293 | SH |  | SOLE |  | 10293 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 477948 | 1763 | SH |  | SOLE |  | 1763 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 918480 | 17320 | SH |  | SOLE |  | 17320 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 668070 | 7018 | SH |  | SOLE |  | 7018 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 221660 | 2374 | SH |  | SOLE |  | 2374 | 0 | 0 |
| ISHARES TR | MSCI USA MMENTM | 46432F396 |  | 518798 | 2023 | SH |  | SOLE |  | 2023 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 694560 | 3571 | SH |  | SOLE |  | 3571 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 2544579 | 23895 | SH |  | SOLE |  | 23895 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 10799389 | 23055 | SH |  | SOLE |  | 23055 | 0 | 0 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 386928 | 2717 | SH |  | SOLE |  | 2717 | 0 | 0 |
| ISHARES TR | S SML 600 GWT | 464287887 |  | 1816294 | 12836 | SH |  | SOLE |  | 12836 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 9632545 | 67787 | SH |  | SOLE |  | 67787 | 0 | 0 |
| ISHARES TR | SELECT US REIT | 464287564 |  | 1014205 | 16459 | SH |  | SOLE |  | 16459 | 0 | 0 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 35747646 | 323537 | SH |  | SOLE |  | 323537 | 0 | 0 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 1349272 | 12636 | SH |  | SOLE |  | 12636 | 0 | 0 |
| ISHARES TR | ULTRA SHORT DUR | 46434V878 |  | 355250 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1160139 | 6257 | SH |  | SOLE |  | 6257 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 534816 | 1696 | SH |  | SOLE |  | 1696 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 284417 | 570 | SH |  | SOLE |  | 570 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 608127 | 2335 | SH |  | SOLE |  | 2335 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 272291 | 2859 | SH |  | SOLE |  | 2859 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 370733 | 4417 | SH |  | SOLE |  | 4417 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 3650537 | 7048 | SH |  | SOLE |  | 7048 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 261365 | 218 | SH |  | SOLE |  | 218 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG LRGCP | 67092P201 |  | 1011705 | 10173 | SH |  | SOLE |  | 10173 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG SMLCP | 67092P607 |  | 623089 | 14129 | SH |  | SOLE |  | 14129 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 780399 | 4183 | SH |  | SOLE |  | 4183 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 342550 | 1218 | SH |  | SOLE |  | 1218 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 274887 | 1350 | SH |  | SOLE |  | 1350 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 240341 | 1711 | SH |  | SOLE |  | 1711 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1699694 | 10479 | SH |  | SOLE |  | 10479 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 810706 | 5276 | SH |  | SOLE |  | 5276 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 298353 | 613 | SH |  | SOLE |  | 613 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 216228 | 9288 | SH |  | SOLE |  | 9288 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL SCEQT ETF | 808524888 |  | 317442 | 6975 | SH |  | SOLE |  | 6975 | 0 | 0 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 201544 | 8260 | SH |  | SOLE |  | 8260 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 3362948 | 123185 | SH |  | SOLE |  | 123185 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 481173 | 15079 | SH |  | SOLE |  | 15079 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 2354073 | 87350 | SH |  | SOLE |  | 87350 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 542017 | 1923 | SH |  | SOLE |  | 1923 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 777588 | 8205 | SH |  | SOLE |  | 8205 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 2379161 | 6693 | SH |  | SOLE |  | 6693 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 2655859 | 3987 | SH |  | SOLE |  | 3987 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 266259 | 2902 | SH |  | SOLE |  | 2902 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG HIGH Y | 78468R622 |  | 1274556 | 13007 | SH |  | SOLE |  | 13007 | 0 | 0 |
| SPDR SERIES TRUST | PRTFLO S GW | 78464A409 |  | 281341 | 2692 | SH |  | SOLE |  | 2692 | 0 | 0 |
| SPDR SERIES TRUST | PRTFLO S VL | 78464A508 |  | 205872 | 3721 | SH |  | SOLE |  | 3721 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 255752 | 1082 | SH |  | SOLE |  | 1082 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 648819 | 1879 | SH |  | SOLE |  | 1879 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 846672 | 11082 | SH |  | SOLE |  | 11082 | 0 | 0 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 3783326 | 48448 | SH |  | SOLE |  | 48448 | 0 | 0 |
| VANGUARD BD INDEX FDS | LONG TERM BOND | 921937793 |  | 1329779 | 18769 | SH |  | SOLE |  | 18769 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 9023020 | 114346 | SH |  | SOLE |  | 114346 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 23558905 | 316780 | SH |  | SOLE |  | 316780 | 0 | 0 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 478390 | 9672 | SH |  | SOLE |  | 9672 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 114222050 | 238156 | SH |  | SOLE |  | 238156 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 541330 | 1758 | SH |  | SOLE |  | 1758 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 3523015 | 11992 | SH |  | SOLE |  | 11992 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 3244413 | 18584 | SH |  | SOLE |  | 18584 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 4953414 | 16863 | SH |  | SOLE |  | 16863 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 5598900 | 61244 | SH |  | SOLE |  | 61244 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 10828912 | 17683 | SH |  | SOLE |  | 17683 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 7293984 | 34948 | SH |  | SOLE |  | 34948 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 6042007 | 23761 | SH |  | SOLE |  | 23761 | 0 | 0 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 262633 | 882 | SH |  | SOLE |  | 882 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 4389011 | 13374 | SH |  | SOLE |  | 13374 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 23454792 | 125770 | SH |  | SOLE |  | 125770 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 1532457 | 21472 | SH |  | SOLE |  | 21472 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1825174 | 33687 | SH |  | SOLE |  | 33687 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 982178 | 12308 | SH |  | SOLE |  | 12308 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE PACIFIC ETF | 922042866 |  | 515492 | 5869 | SH |  | SOLE |  | 5869 | 0 | 0 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 6335230 | 125128 | SH |  | SOLE |  | 125128 | 0 | 0 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 1140244 | 22773 | SH |  | SOLE |  | 22773 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 16640470 | 197842 | SH |  | SOLE |  | 197842 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 5402903 | 69580 | SH |  | SOLE |  | 69580 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 4087594 | 69458 | SH |  | SOLE |  | 69458 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 28210793 | 352944 | SH |  | SOLE |  | 352944 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 407893 | 3385 | SH |  | SOLE |  | 3385 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 11011573 | 51029 | SH |  | SOLE |  | 51029 | 0 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 42468084 | 578112 | SH |  | SOLE |  | 578112 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 1567344 | 26157 | SH |  | SOLE |  | 26157 | 0 | 0 |
| VANGUARD WHITEHALL FDS | EM MK GOV BD ETF | 921946885 |  | 826214 | 12350 | SH |  | SOLE |  | 12350 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 65249760 | 462928 | SH |  | SOLE |  | 462928 | 0 | 0 |
| VANGUARD WHITEHALL FDS | INTL HIGH ETF | 921946794 |  | 211116 | 2493 | SH |  | SOLE |  | 2493 | 0 | 0 |
| VANGUARD WORLD FD | COMM SRVC ETF | 92204A884 |  | 1676102 | 8928 | SH |  | SOLE |  | 8928 | 0 | 0 |
| VANGUARD WORLD FD | CONSUM DIS ETF | 92204A108 |  | 1813157 | 4577 | SH |  | SOLE |  | 4577 | 0 | 0 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 5321793 | 76716 | SH |  | SOLE |  | 76716 | 0 | 0 |
| VANGUARD WORLD FD | ESG US CORP BD | 921910691 |  | 277775 | 4327 | SH |  | SOLE |  | 4327 | 0 | 0 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 4965250 | 41922 | SH |  | SOLE |  | 41922 | 0 | 0 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 |  | 895451 | 6823 | SH |  | SOLE |  | 6823 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 6753982 | 26017 | SH |  | SOLE |  | 26017 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 24979448 | 33456 | SH |  | SOLE |  | 33456 | 0 | 0 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 709466 | 1763 | SH |  | SOLE |  | 1763 | 0 | 0 |
| VANGUARD WORLD FD | UTILITIES ETF | 92204A876 |  | 3547979 | 18732 | SH |  | SOLE |  | 18732 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 1557340 | 15111 | SH |  | SOLE |  | 15111 | 0 | 0 |

---