# EDGAR Filing Document

**Accession Number:** 0001848704
**File Stem:** 0001085146-23-000383
**Filing Date:** 2023-1
**Character Count:** 17187
**Document Hash:** 4903a7e0e21234ca187badc9ba262750
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-000383.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001085146-23-000383

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230125

**EFFECTIVENESS DATE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MBA Advisors LLC
- **CENTRAL INDEX KEY:** 0001848704
- **IRS NUMBER:** 462982316
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21256
- **FILM NUMBER:** 23553720

**BUSINESS ADDRESS:**
- **STREET 1:** 295 N. KERRWOOD DRIVE
- **STREET 2:** SUITE 102
- **CITY:** HERMITAGE
- **STATE:** PA
- **ZIP:** 16148
- **BUSINESS PHONE:** 7249776275

**MAIL ADDRESS:**
- **STREET 1:** 295 N. KERRWOOD DRIVE
- **STREET 2:** SUITE 102
- **CITY:** HERMITAGE
- **STATE:** PA
- **ZIP:** 16148

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** MBA Advisors LLC<br>**Address:** 295 N. KERRWOOD DRIVE<br>SUITE 102<br>HERMITAGE, PA 16148

**Form 13F File Number:** 028-21256

**CRD Number (if applicable):** 000168073

**SEC File Number (if applicable):** 801-114359

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:** John Matune<br>**Title:** Chief Compliance Officer<br>**Phone:** 724-301-1209

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

/s/John Matune  Hermitage, PA  01-25-2023<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:** 122

**Form 13F Information Table Value Total:** $152868531

      (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 |
| 3M CO | COM | 88579Y101 | BBG001S5T7X2 | 433607 | 3616 | SH |  | SOLE |  | 3616 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 | BBG001S5N9M6 | 351548 | 3202 | SH |  | SOLE |  | 3202 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 978072 | 6052 | SH |  | SOLE |  | 6052 | 0 | 0 |
| ABRDN GOLD ETF TRUST | PHYSCL GOLD SHS | 00326A104 | BBG001SCTFP8 | 176360 | 10095 | SH |  | SOLE |  | 10095 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 944159 | 10701 | SH |  | SOLE |  | 10701 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 | BBG001TBMNT5 | 374761 | 9844 | SH |  | SOLE |  | 9844 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 | BBG001S5T8T5 | 229601 | 5023 | SH |  | SOLE |  | 5023 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 369258 | 4396 | SH |  | SOLE |  | 4396 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG001S5P034 | 234479 | 1587 | SH |  | SOLE |  | 1587 | 0 | 0 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 869864 | 3312 | SH |  | SOLE |  | 3312 | 0 | 0 |
| AMPLIFY ETF TR | CWP ENHANCED DIV | 032108409 | BBG00FJ5P854 | 636156 | 17740 | SH |  | SOLE |  | 17740 | 0 | 0 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 3786665 | 29144 | SH |  | SOLE |  | 29144 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 439867 | 23893 | SH |  | SOLE |  | 23893 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 314343 | 9491 | SH |  | SOLE |  | 9491 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 562816 | 1822 | SH |  | SOLE |  | 1822 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 | BBG001S8N8J6 | 389609 | 5415 | SH |  | SOLE |  | 5415 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 432493 | 1805 | SH |  | SOLE |  | 1805 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 1125952 | 6273 | SH |  | SOLE |  | 6273 | 0 | 0 |
| CINCINNATI FINL CORP | COM | 172062101 | BBG001S5PTM0 | 308706 | 3015 | SH |  | SOLE |  | 3015 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 | BBG001S6HC62 | 835891 | 17546 | SH |  | SOLE |  | 17546 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 743574 | 11690 | SH |  | SOLE |  | 11690 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 | BBG001S5QRL4 | 262198 | 2751 | SH |  | SOLE |  | 2751 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 | BBG00BN969D0 | 210021 | 3573 | SH |  | SOLE |  | 3573 | 0 | 0 |
| DIREXION SHS ETF TR | DLY S BR 1X | 25460E869 | BBG00D1WLCR0 | 454520 | 27530 | SH |  | SOLE |  | 27530 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 270878 | 3118 | SH |  | SOLE |  | 3118 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 269440 | 4394 | SH |  | SOLE |  | 4394 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 | BBG001S5QNR7 | 533076 | 5176 | SH |  | SOLE |  | 5176 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 | BBG00BN961H3 | 284609 | 4147 | SH |  | SOLE |  | 4147 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG001S5ZB93 | 242461 | 1872 | SH |  | SOLE |  | 1872 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 1774812 | 16091 | SH |  | SOLE |  | 16091 | 0 | 0 |
| F N B CORP | COM | 302520101 | BBG001S5R1Q5 | 628645 | 48172 | SH |  | SOLE |  | 48172 | 0 | 0 |
| FIRST COMWLTH FINL CORP PA | COM | 319829107 | BBG001S70475 | 151267 | 10828 | SH |  | SOLE |  | 10828 | 0 | 0 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 | BBG0043NRZR1 | 398566 | 23724 | SH |  | SOLE |  | 23724 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 | BBG001S5RHP1 | 642853 | 2591 | SH |  | SOLE |  | 2591 | 0 | 0 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 | BBG001S5PVD5 | 932331 | 11127 | SH |  | SOLE |  | 11127 | 0 | 0 |
| GLOBAL X FDS | NASDAQ 100 COVER | 37954Y483 | BBG00MVW9603 | 187295 | 11772 | SH |  | SOLE |  | 11772 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 754905 | 2390 | SH |  | SOLE |  | 2390 | 0 | 0 |
| INTEL CORP | COM | 458140100 | BBG001S5SF65 | 350015 | 13243 | SH |  | SOLE |  | 13243 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 888030 | 6303 | SH |  | SOLE |  | 6303 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | FTSE RAFI 1000 | 46137V613 | BBG001S6H5N8 | 243304 | 1568 | SH |  | SOLE |  | 1568 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | HIG YLD EQ DIV | 46137V563 | BBG001SN3Z78 | 248859 | 12028 | SH |  | SOLE |  | 12028 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 | BBG00KJR2V68 | 233018 | 959 | SH |  | SOLE |  | 959 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 | BBG001SJK6D5 | 4646578 | 134333 | SH |  | SOLE |  | 134333 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 | BBG003HC3DG9 | 609342 | 13048 | SH |  | SOLE |  | 13048 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 | BBG001SKXPR1 | 5082460 | 62615 | SH |  | SOLE |  | 62615 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 | BBG001SSD812 | 5118643 | 44553 | SH |  | SOLE |  | 44553 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 | BBG003H6TRS0 | 471916 | 7656 | SH |  | SOLE |  | 7656 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 1076894 | 4452 | SH |  | SOLE |  | 4452 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 1958703 | 5098 | SH |  | SOLE |  | 5098 | 0 | 0 |
| ISHARES TR | GLOBAL ENERG ETF | 464287341 | BBG001S7RSN5 | 277141 | 7108 | SH |  | SOLE |  | 7108 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 | BBG001SG09V7 | 1066781 | 16252 | SH |  | SOLE |  | 16252 | 0 | 0 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 | BBG007WGM3H4 | 4806870 | 148406 | SH |  | SOLE |  | 148406 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 | BBG004TRTWW3 | 1867918 | 16391 | SH |  | SOLE |  | 16391 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 | BBG001SZV978 | 288808 | 2737 | SH |  | SOLE |  | 2737 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 | BBG001SJCNS1 | 1704462 | 25270 | SH |  | SOLE |  | 25270 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | BBG001SFC7Y7 | 878077 | 5036 | SH |  | SOLE |  | 5036 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 | BBG001S561Q8 | 2070608 | 35395 | SH |  | SOLE |  | 35395 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 | BBG001S561K4 | 1737503 | 11977 | SH |  | SOLE |  | 11977 | 0 | 0 |
| ISHARES TR | SHORT TREAS BD | 464288679 | BBG001SSD803 | 5151621 | 46867 | SH |  | SOLE |  | 46867 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 | BBG00TSG0SK6 | 4420767 | 81130 | SH |  | SOLE |  | 81130 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 | BBG00GP26NW0 | 4040127 | 80593 | SH |  | SOLE |  | 80593 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 1187475 | 6722 | SH |  | SOLE |  | 6722 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 1628446 | 12144 | SH |  | SOLE |  | 12144 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 | BBG001S5STL8 | 458032 | 1252 | SH |  | SOLE |  | 1252 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 | BBG001S169P1 | 741870 | 6374 | SH |  | SOLE |  | 6374 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 | BBG001S5T110 | 1032166 | 3917 | SH |  | SOLE |  | 3917 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 579006 | 5219 | SH |  | SOLE |  | 5219 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 252594 | 2099 | SH |  | SOLE |  | 2099 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 2417942 | 10082 | SH |  | SOLE |  | 10082 | 0 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 | BBG001S5TLR8 | 546152 | 8628 | SH |  | SOLE |  | 8628 | 0 | 0 |
| NIKE INC | CL B | 654106103 | BBG001S6NTK2 | 341268 | 2917 | SH |  | SOLE |  | 2917 | 0 | 0 |
| NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | BBG001SKQWJ3 | 317223 | 27900 | SH |  | SOLE |  | 27900 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 251105 | 3072 | SH |  | SOLE |  | 3072 | 0 | 0 |
| PACWEST BANCORP DEL | COM | 695263103 | BBG001SFDBF8 | 563652 | 24560 | SH |  | SOLE |  | 24560 | 0 | 0 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 1091375 | 6041 | SH |  | SOLE |  | 6041 | 0 | 0 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 879933 | 17173 | SH |  | SOLE |  | 17173 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG001STP9N1 | 460506 | 4550 | SH |  | SOLE |  | 4550 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 | BBG001S5V947 | 390586 | 2473 | SH |  | SOLE |  | 2473 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 1457242 | 9615 | SH |  | SOLE |  | 9615 | 0 | 0 |
| PROSHARES TR | SHORT S 500 NE | 74347B425 | BBG001SR6H49 | 934581 | 58302 | SH |  | SOLE |  | 58302 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 | BBG001S5X5Q9 | 459388 | 4552 | SH |  | SOLE |  | 4552 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 | BBG001S884K0 | 200439 | 3160 | SH |  | SOLE |  | 3160 | 0 | 0 |
| RESMED INC | COM | 761152107 | BBG001SBGRC2 | 221034 | 1062 | SH |  | SOLE |  | 1062 | 0 | 0 |
| ROYCE VALUE TR INC | COM | 780910105 | BBG001S5VTQ9 | 132600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 | BBG001T6L7D9 | 235659 | 9956 | SH |  | SOLE |  | 9956 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 | BBG001T5XQT9 | 1557424 | 34756 | SH |  | SOLE |  | 34756 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 | BBG0025RWLM4 | 5888765 | 77956 | SH |  | SOLE |  | 77956 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 | BBG001T66WN0 | 2685442 | 48334 | SH |  | SOLE |  | 48334 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 | BBG001T66WQ7 | 2685185 | 40672 | SH |  | SOLE |  | 40672 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 | BBG001T5XQV6 | 4640509 | 102780 | SH |  | SOLE |  | 102780 | 0 | 0 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 | BBG001V036R6 | 5244084 | 79928 | SH |  | SOLE |  | 79928 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 | BBG001S7T1S7 | 249639 | 2854 | SH |  | SOLE |  | 2854 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | BBG001S7T223 | 208517 | 6097 | SH |  | SOLE |  | 6097 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 | BBG001S7T107 | 484575 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | BBG001S7SCQ6 | 3169788 | 23333 | SH |  | SOLE |  | 23333 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | BBG001S7T232 | 404625 | 4120 | SH |  | SOLE |  | 4120 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 | BBG001S7TD56 | 2773047 | 39334 | SH |  | SOLE |  | 39334 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 322736 | 5667 | SH |  | SOLE |  | 5667 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 | BBG001S5W777 | 315061 | 4412 | SH |  | SOLE |  | 4412 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 1076366 | 6345 | SH |  | SOLE |  | 6345 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 | BBG001SRXRD7 | 2796623 | 84849 | SH |  | SOLE |  | 84849 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 1031451 | 2697 | SH |  | SOLE |  | 2697 | 0 | 0 |
| SPDR SER TR | BLOOMBERG 1-3 MO | 78468R663 | BBG001STKCW9 | 1432054 | 15656 | SH |  | SOLE |  | 15656 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 | BBG001SKR9Y6 | 325500 | 2325 | SH |  | SOLE |  | 2325 | 0 | 0 |
| TREAN INS GROUP INC | COM | 89457R101 | BBG00VM3JWZ1 | 1047000 | 174500 | SH |  | SOLE |  | 174500 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 360302 | 1740 | SH |  | SOLE |  | 1740 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 333483 | 629 | SH |  | SOLE |  | 629 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 | BBG001S5X8K9 | 289621 | 2283 | SH |  | SOLE |  | 2283 | 0 | 0 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 | BBG001ST39R1 | 6942677 | 93416 | SH |  | SOLE |  | 93416 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 | BBG001ST39Q2 | 657646 | 8736 | SH |  | SOLE |  | 8736 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 243569 | 1327 | SH |  | SOLE |  | 1327 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 | BBG001SP7T00 | 868940 | 17330 | SH |  | SOLE |  | 17330 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 683086 | 17524 | SH |  | SOLE |  | 17524 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 | BBG001T62M74 | 554769 | 9595 | SH |  | SOLE |  | 9595 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 | BBG001SSPWL4 | 730577 | 17407 | SH |  | SOLE |  | 17407 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 | BBG001SS0V24 | 1045850 | 9665 | SH |  | SOLE |  | 9665 | 0 | 0 |
| VANGUARD WORLD FDS | CONSUM STP ETF | 92204A207 | BBG001SHVR41 | 2968569 | 15496 | SH |  | SOLE |  | 15496 | 0 | 0 |
| VANGUARD WORLD FDS | ENERGY ETF | 92204A306 | BBG001SHTV45 | 1980017 | 16326 | SH |  | SOLE |  | 16326 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 623071 | 15814 | SH |  | SOLE |  | 15814 | 0 | 0 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 282308 | 1991 | SH |  | SOLE |  | 1991 | 0 | 0 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 | BBG005YHYNG8 | 2198106 | 43726 | SH |  | SOLE |  | 43726 | 0 | 0 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 | BBG004LMH3Z6 | 5213172 | 86368 | SH |  | SOLE |  | 86368 | 0 | 0 |

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