# EDGAR Filing Document

**Accession Number:** 0001161670
**File Stem:** 0001161670-23-000001
**Filing Date:** 2023-1
**Character Count:** 28098
**Document Hash:** 05f05f1be45de0ee24d7cb851d005a84
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001161670-23-000001.hdr.sgml**: 20230111

**ACCESSION NUMBER**: 0001161670-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230111

**DATE AS OF CHANGE**: 20230111

**EFFECTIVENESS DATE**: 20230111

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CULLINAN ASSOCIATES INC
- **CENTRAL INDEX KEY:** 0001161670
- **IRS NUMBER:** 611172632
- **STATE OF INCORPORATION:** KY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10216
- **FILM NUMBER:** 23523240

**BUSINESS ADDRESS:**
- **STREET 1:** 295 N. HUBBARDS LANE
- **STREET 2:** SUITE 203
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40207
- **BUSINESS PHONE:** 5028930300

**MAIL ADDRESS:**
- **STREET 1:** 295 N. HUBBARDS LANE
- **STREET 2:** SUITE 203
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40207

### 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:** CULLINAN ASSOCIATES INC<br>**Address:** 295 N. HUBBARDS LANE<br>SUITE 203<br>LOUISVILLE, KY 40207

**Form 13F File Number:** 028-10216

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:** Brian L. Cullinan<br>**Title:** Principal  CCO<br>**Phone:** 502-893-0300

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

Brian L. Cullinan  Louisville, KY  01-11-2023<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:** 272

**Form 13F Information Table Value Total:** $1804658000

      (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 Company | COM | 88579Y101 |  | 1350 | 11255 | SH |  | SOLE |  | 0 | 0 | 11255 |
| A. O. Smith Corp | COM | 831865209 |  | 483 | 8434 | SH |  | SOLE |  | 0 | 0 | 8434 |
| AFLAC Inc | COM | 001055102 |  | 18914 | 262908 | SH |  | SOLE |  | 0 | 0 | 262908 |
| ASML Holding NV | COM | N07059210 |  | 1038 | 1900 | SH |  | SOLE |  | 0 | 0 | 1900 |
| AT Inc | COM | 00206R102 |  | 663 | 36037 | SH |  | SOLE |  | 0 | 0 | 36037 |
| AbbVie Inc | COM | 00287Y109 |  | 20286 | 125524 | SH |  | SOLE |  | 0 | 0 | 125524 |
| Abbott Laboratories | COM | 002824100 |  | 11952 | 108861 | SH |  | SOLE |  | 0 | 0 | 108861 |
| Accenture PLC | COM | G1151C101 |  | 10756 | 40308 | SH |  | SOLE |  | 0 | 0 | 40308 |
| Adobe | COM | 00724F101 |  | 10554 | 31362 | SH |  | SOLE |  | 0 | 0 | 31362 |
| Air Products  Chemicals | COM | 009158106 |  | 391 | 1268 | SH |  | SOLE |  | 0 | 0 | 1268 |
| Airbnb Inc | COM | 009066101 |  | 3420 | 40000 | SH |  | SOLE |  | 0 | 0 | 40000 |
| Albemarle Corp | COM | 012653101 |  | 667 | 3074 | SH |  | SOLE |  | 0 | 0 | 3074 |
| Alibaba Group Holding | COM | 01609W102 |  | 282 | 3200 | SH |  | SOLE |  | 0 | 0 | 3200 |
| Allstate Corp | COM | 020002101 |  | 583 | 4300 | SH |  | SOLE |  | 0 | 0 | 4300 |
| Alphabet Class A | COM | 02079K305 |  | 15917 | 180400 | SH |  | SOLE |  | 0 | 0 | 180400 |
| Alphabet Class C | COM | 02079K107 |  | 6470 | 72920 | SH |  | SOLE |  | 0 | 0 | 72920 |
| Altria Group | COM | 02209S103 |  | 1630 | 35650 | SH |  | SOLE |  | 0 | 0 | 35650 |
| Amazon | COM | 023135106 |  | 10424 | 124100 | SH |  | SOLE |  | 0 | 0 | 124100 |
| Amcor PLC | COM | G0250X107 |  | 393 | 32961 | SH |  | SOLE |  | 0 | 0 | 32961 |
| American Electric Power | COM | 025537101 |  | 468 | 4930 | SH |  | SOLE |  | 0 | 0 | 4930 |
| American Express Co | COM | 025816109 |  | 15404 | 104255 | SH |  | SOLE |  | 0 | 0 | 104255 |
| American Tower REIT | COM | 03027X100 |  | 6571 | 31014 | SH |  | SOLE |  | 0 | 0 | 31014 |
| Amgen Inc | COM | 031162100 |  | 53254 | 202764 | SH |  | SOLE |  | 0 | 0 | 202764 |
| Analog Devices | COM | 032654105 |  | 6822 | 41590 | SH |  | SOLE |  | 0 | 0 | 41590 |
| Apple Inc | COM | 037833100 |  | 85452 | 657677 | SH |  | SOLE |  | 0 | 0 | 657677 |
| Applied Materials | COM | 038222105 |  | 8058 | 82751 | SH |  | SOLE |  | 0 | 0 | 82751 |
| Archer Daniels | COM | 039483102 |  | 772 | 8317 | SH |  | SOLE |  | 0 | 0 | 8317 |
| Arvinas Inc | COM | 04335A105 |  | 469 | 13700 | SH |  | SOLE |  | 0 | 0 | 13700 |
| AstraZeneca PLC | COM | 046353108 |  | 760 | 11208 | SH |  | SOLE |  | 0 | 0 | 11208 |
| Atlassian Corp CL A | COM | 049468101 |  | 794 | 6172 | SH |  | SOLE |  | 0 | 0 | 6172 |
| Atmos Energy Corp | COM | 049560105 |  | 338 | 3020 | SH |  | SOLE |  | 0 | 0 | 3020 |
| Automatic Data | COM | 053015103 |  | 7336 | 30713 | SH |  | SOLE |  | 0 | 0 | 30713 |
| BP PLC ADS | COM | 055622104 |  | 947 | 27100 | SH |  | SOLE |  | 0 | 0 | 27100 |
| Bank Of America | COM | 060505104 |  | 2609 | 78761 | SH |  | SOLE |  | 0 | 0 | 78761 |
| Bank of N.Y. | COM | 064058100 |  | 360 | 7900 | SH |  | SOLE |  | 0 | 0 | 7900 |
| Baxter Intl | COM | 071813109 |  | 1040 | 20400 | SH |  | SOLE |  | 0 | 0 | 20400 |
| Beauty Health Company | COM | 88331L108 |  | 1449 | 159253 | SH |  | SOLE |  | 0 | 0 | 159253 |
| Becton Dickenson  Co | COM | 075887109 |  | 623 | 2448 | SH |  | SOLE |  | 0 | 0 | 2448 |
| Berkshire Hathaway Cl B | COM | 113809107 |  | 4135 | 13387 | SH |  | SOLE |  | 0 | 0 | 13387 |
| Biogen Idec | COM | 09062X103 |  | 305 | 1100 | SH |  | SOLE |  | 0 | 0 | 1100 |
| Blackrock Inc | COM | 09247X101 |  | 539 | 760 | SH |  | SOLE |  | 0 | 0 | 760 |
| Blackstone Group | COM | 09260D107 |  | 738 | 9950 | SH |  | SOLE |  | 0 | 0 | 9950 |
| Boeing | COM | 097023105 |  | 748 | 3925 | SH |  | SOLE |  | 0 | 0 | 3925 |
| Boston Scientific | COM | 101137107 |  | 944 | 20400 | SH |  | SOLE |  | 0 | 0 | 20400 |
| Bristol Myers Squibb Company | COM | 110122108 |  | 9043 | 125688 | SH |  | SOLE |  | 0 | 0 | 125688 |
| Broadcom Ltd | COM | 11135F101 |  | 1115 | 1994 | SH |  | SOLE |  | 0 | 0 | 1994 |
| Brown Forman Class B | COM | 115637209 |  | 500 | 5007 | SH |  | SOLE |  | 0 | 0 | 5007 |
| C H Robinsin Worldwide | COM | 12541W209 |  | 4091 | 44686 | SH |  | SOLE |  | 0 | 0 | 44686 |
| CBOE Holdings Inc | COM | 12503M108 |  | 1041 | 8300 | SH |  | SOLE |  | 0 | 0 | 8300 |
| CME Group | COM | 12572Q105 |  | 946 | 5625 | SH |  | SOLE |  | 0 | 0 | 5625 |
| CNH Industrial NV | COM | N20944109 |  | 1354 | 84300 | SH |  | SOLE |  | 0 | 0 | 84300 |
| CSX Corp | COM | 126408103 |  | 855 | 27590 | SH |  | SOLE |  | 0 | 0 | 27590 |
| CVS Health Corp | COM | 126650100 |  | 17717 | 190117 | SH |  | SOLE |  | 0 | 0 | 190117 |
| Canadian National Railway | COM | 136375102 |  | 333 | 2800 | SH |  | SOLE |  | 0 | 0 | 2800 |
| Capital One Financial | COM | 14040H105 |  | 5734 | 61684 | SH |  | SOLE |  | 0 | 0 | 61684 |
| Cardinal Health | COM | 14149Y108 |  | 542 | 7048 | SH |  | SOLE |  | 0 | 0 | 7048 |
| Carrier Global | COM | 14448C104 |  | 1306 | 31661 | SH |  | SOLE |  | 0 | 0 | 31661 |
| Caterpillar | COM | 149123101 |  | 9214 | 38462 | SH |  | SOLE |  | 0 | 0 | 38462 |
| Charles Schwab Corp | COM | 808513105 |  | 6303 | 75700 | SH |  | SOLE |  | 0 | 0 | 75700 |
| Cheniere Energy Inc | COM | 16411R208 |  | 330 | 2200 | SH |  | SOLE |  | 0 | 0 | 2200 |
| Chevron Corp | COM | 166764100 |  | 40457 | 225401 | SH |  | SOLE |  | 0 | 0 | 225401 |
| Chubb Limited | COM | H1467J104 |  | 826 | 3745 | SH |  | SOLE |  | 0 | 0 | 3745 |
| Cigna | COM | 125509109 |  | 596 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| Cincinnati Financial Corp | COM | 172062101 |  | 395 | 3855 | SH |  | SOLE |  | 0 | 0 | 3855 |
| Cintas Corporation | COM | 172908105 |  | 451 | 998 | SH |  | SOLE |  | 0 | 0 | 998 |
| Cisco Systems Inc | COM | 17275R102 |  | 16529 | 346954 | SH |  | SOLE |  | 0 | 0 | 346954 |
| Clorox | COM | 189054109 |  | 283 | 2019 | SH |  | SOLE |  | 0 | 0 | 2019 |
| Coca-Cola Company | COM | 191216100 |  | 102693 | 1614421 | SH |  | SOLE |  | 0 | 0 | 1614421 |
| Cognex | COM | 192422103 |  | 207 | 4400 | SH |  | SOLE |  | 0 | 0 | 4400 |
| Cognizant Technologies Sol A | COM | 192446102 |  | 776 | 13562 | SH |  | SOLE |  | 0 | 0 | 13562 |
| Coinbase Global Inc. | COM | 19260Q107 |  | 10667 | 301400 | SH |  | SOLE |  | 0 | 0 | 301400 |
| Colgate-Palmolive Company | COM | 194162103 |  | 6733 | 85460 | SH |  | SOLE |  | 0 | 0 | 85460 |
| Comcast Corp | COM | 20030N101 |  | 10773 | 308071 | SH |  | SOLE |  | 0 | 0 | 308071 |
| ConocoPhillips | COM | 20825C104 |  | 2275 | 19279 | SH |  | SOLE |  | 0 | 0 | 19279 |
| Consolidated Edison Inc | COM | 209115104 |  | 424 | 4453 | SH |  | SOLE |  | 0 | 0 | 4453 |
| Constellation Brands | COM | 21036P108 |  | 5208 | 22472 | SH |  | SOLE |  | 0 | 0 | 22472 |
| Corning | COM | 219350105 |  | 2150 | 67325 | SH |  | SOLE |  | 0 | 0 | 67325 |
| Corteva Inc | COM | 22052L104 |  | 12918 | 219773 | SH |  | SOLE |  | 0 | 0 | 219773 |
| Costco Wholesale Corp | COM | 22160K105 |  | 7304 | 15999 | SH |  | SOLE |  | 0 | 0 | 15999 |
| Crown Castle | COM | 228227104 |  | 8325 | 61375 | SH |  | SOLE |  | 0 | 0 | 61375 |
| Cummins | COM | 231021106 |  | 6387 | 26360 | SH |  | SOLE |  | 0 | 0 | 26360 |
| Danaher Corp | COM | 235851102 |  | 743 | 2800 | SH |  | SOLE |  | 0 | 0 | 2800 |
| Deere  Company | COM | 244199105 |  | 11283 | 26315 | SH |  | SOLE |  | 0 | 0 | 26315 |
| Diageo PLC ADR | COM | 25243Q205 |  | 747 | 4191 | SH |  | SOLE |  | 0 | 0 | 4191 |
| Digital Realty Trust | COM | 253868103 |  | 253 | 2519 | SH |  | SOLE |  | 0 | 0 | 2519 |
| Dollar Tree Inc | COM | 256746108 |  | 1301 | 9200 | SH |  | SOLE |  | 0 | 0 | 9200 |
| Dominion Energy | COM | 25746U109 |  | 503 | 8200 | SH |  | SOLE |  | 0 | 0 | 8200 |
| Doordash Inc | COM | 25809K105 |  | 425 | 8700 | SH |  | SOLE |  | 0 | 0 | 8700 |
| Dorman Products Inc | COM | 258278100 |  | 2022 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| Dover Corporation | COM | 260003108 |  | 351 | 2593 | SH |  | SOLE |  | 0 | 0 | 2593 |
| Dow Inc | COM | 260557103 |  | 2259 | 44825 | SH |  | SOLE |  | 0 | 0 | 44825 |
| DuPont De Nemours  Co | COM | 26614N102 |  | 399 | 5821 | SH |  | SOLE |  | 0 | 0 | 5821 |
| Duke Energy Hldg | COM | 26441C204 |  | 1505 | 14617 | SH |  | SOLE |  | 0 | 0 | 14617 |
| EBay | COM | 278642103 |  | 420 | 10138 | SH |  | SOLE |  | 0 | 0 | 10138 |
| EOG Resources | COM | 26875P101 |  | 1657 | 12792 | SH |  | SOLE |  | 0 | 0 | 12792 |
| Eastman Chemical | COM | 277432100 |  | 237 | 2915 | SH |  | SOLE |  | 0 | 0 | 2915 |
| Eaton Corp | COM | G29183103 |  | 3481 | 22178 | SH |  | SOLE |  | 0 | 0 | 22178 |
| Ecolab Inc | COM | 278865100 |  | 261 | 1790 | SH |  | SOLE |  | 0 | 0 | 1790 |
| Edwards Lifesciences | COM | 28176E108 |  | 956 | 12811 | SH |  | SOLE |  | 0 | 0 | 12811 |
| Electronic Arts | COM | 285512109 |  | 18725 | 153261 | SH |  | SOLE |  | 0 | 0 | 153261 |
| Eli Lilly  Company | COM | 532457108 |  | 2428 | 6638 | SH |  | SOLE |  | 0 | 0 | 6638 |
| Emerson Electric Company | COM | 291011104 |  | 3869 | 40276 | SH |  | SOLE |  | 0 | 0 | 40276 |
| Energy Transfer LP | COM | 29273V100 |  | 149 | 12520 | SH |  | SOLE |  | 0 | 0 | 12520 |
| Essex Property Trust | COM | 297178105 |  | 278 | 1313 | SH |  | SOLE |  | 0 | 0 | 1313 |
| Eversource Energy | COM | 30040W108 |  | 365 | 4357 | SH |  | SOLE |  | 0 | 0 | 4357 |
| Exelon Corp | COM | 30161N101 |  | 4112 | 95114 | SH |  | SOLE |  | 0 | 0 | 95114 |
| Expeditors Intl | COM | 302130109 |  | 327 | 3147 | SH |  | SOLE |  | 0 | 0 | 3147 |
| Exxon Mobil | COM | 30231G102 |  | 24345 | 220717 | SH |  | SOLE |  | 0 | 0 | 220717 |
| FMC Corporation | COM | 302491303 |  | 1803 | 14448 | SH |  | SOLE |  | 0 | 0 | 14448 |
| Fastenal Company | COM | 311900104 |  | 8119 | 171579 | SH |  | SOLE |  | 0 | 0 | 171579 |
| Federal Realty Investment | COM | 313747206 |  | 410 | 4057 | SH |  | SOLE |  | 0 | 0 | 4057 |
| Fifth Third Bancorp | COM | 316773100 |  | 635 | 19364 | SH |  | SOLE |  | 0 | 0 | 19364 |
| First Solar Inc | COM | 336433107 |  | 1348 | 9000 | SH |  | SOLE |  | 0 | 0 | 9000 |
| FirstEnergy | COM | 337932107 |  | 4503 | 107362 | SH |  | SOLE |  | 0 | 0 | 107362 |
| Fiserv | COM | 337738108 |  | 6797 | 67249 | SH |  | SOLE |  | 0 | 0 | 67249 |
| Ford Motor | COM | 345370860 |  | 471 | 40500 | SH |  | SOLE |  | 0 | 0 | 40500 |
| Fortinet Inc | COM | 34959E109 |  | 275 | 5625 | SH |  | SOLE |  | 0 | 0 | 5625 |
| Fortive Corp | COM | 34959J108 |  | 1587 | 24700 | SH |  | SOLE |  | 0 | 0 | 24700 |
| Franklin Resources | COM | 354613101 |  | 365 | 13837 | SH |  | SOLE |  | 0 | 0 | 13837 |
| Garmin | COM | H2906T109 |  | 1243 | 13473 | SH |  | SOLE |  | 0 | 0 | 13473 |
| General Dynamics | COM | 369550108 |  | 620 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| General Electric Company | COM | 369604103 |  | 1045 | 12477 | SH |  | SOLE |  | 0 | 0 | 12477 |
| General Mills | COM | 370334104 |  | 5037 | 60075 | SH |  | SOLE |  | 0 | 0 | 60075 |
| Genuine Parts Company | COM | 372460105 |  | 614 | 3540 | SH |  | SOLE |  | 0 | 0 | 3540 |
| Gilead Sciences | COM | 375558103 |  | 10238 | 119259 | SH |  | SOLE |  | 0 | 0 | 119259 |
| Global Payments Inc | COM | 37940X102 |  | 1056 | 10631 | SH |  | SOLE |  | 0 | 0 | 10631 |
| Goldman Sachs | COM | 38141G104 |  | 1339 | 3900 | SH |  | SOLE |  | 0 | 0 | 3900 |
| HP Inc | COM | 40434L105 |  | 4620 | 171945 | SH |  | SOLE |  | 0 | 0 | 171945 |
| Hims and Hers Health | COM | 433000106 |  | 961 | 150000 | SH |  | SOLE |  | 0 | 0 | 150000 |
| Home Depot | COM | 437076102 |  | 6218 | 19686 | SH |  | SOLE |  | 0 | 0 | 19686 |
| Honeywell | COM | 438516106 |  | 2089 | 9750 | SH |  | SOLE |  | 0 | 0 | 9750 |
| Hormel Foods Corp | COM | 440452100 |  | 313 | 6880 | SH |  | SOLE |  | 0 | 0 | 6880 |
| Humana | COM | 444859102 |  | 781 | 1525 | SH |  | SOLE |  | 0 | 0 | 1525 |
| Illinois Tool Works | COM | 452308109 |  | 4361 | 19796 | SH |  | SOLE |  | 0 | 0 | 19796 |
| Ingersoll-Rand PLC | COM | 45687V106 |  | 230 | 4401 | SH |  | SOLE |  | 0 | 0 | 4401 |
| Intel Corp | COM | 458140100 |  | 2356 | 89147 | SH |  | SOLE |  | 0 | 0 | 89147 |
| Intl Business Machines Corp | COM | 459200101 |  | 5255 | 37299 | SH |  | SOLE |  | 0 | 0 | 37299 |
| Intl Flavors  Frag | COM | 459506101 |  | 587 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |
| Intl Paper | COM | 460146103 |  | 1908 | 55107 | SH |  | SOLE |  | 0 | 0 | 55107 |
| Intuit | COM | 461202103 |  | 6657 | 17104 | SH |  | SOLE |  | 0 | 0 | 17104 |
| Intuitive Surgical Inc | COM | 46120E602 |  | 398 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| Iron Mountain | COM | 46284V101 |  | 255 | 5125 | SH |  | SOLE |  | 0 | 0 | 5125 |
| J P Morgan Chase  Co | COM | 46625H100 |  | 23255 | 173417 | SH |  | SOLE |  | 0 | 0 | 173417 |
| Johnson  Johnson | COM | 478160104 |  | 35039 | 198353 | SH |  | SOLE |  | 0 | 0 | 198353 |
| KLA Tencor | COM | 482480100 |  | 6181 | 16395 | SH |  | SOLE |  | 0 | 0 | 16395 |
| Kimberly-Clark | COM | 494368103 |  | 956 | 7042 | SH |  | SOLE |  | 0 | 0 | 7042 |
| Kinder Morgan | COM | 49456B101 |  | 277 | 15337 | SH |  | SOLE |  | 0 | 0 | 15337 |
| Knight-Swift Trans | COM | 499049104 |  | 204 | 3900 | SH |  | SOLE |  | 0 | 0 | 3900 |
| Kraft Heinz Co | COM | 500754106 |  | 510 | 12525 | SH |  | SOLE |  | 0 | 0 | 12525 |
| Lam Research Corp | COM | 512807108 |  | 4077 | 9700 | SH |  | SOLE |  | 0 | 0 | 9700 |
| Leggett  Platt Inc. | COM | 524660107 |  | 275 | 8536 | SH |  | SOLE |  | 0 | 0 | 8536 |
| Leidos Holdings Inc. | COM | 525327102 |  | 421 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| Levi Strauss  Co | COM | 52736R102 |  | 155 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| Lincoln National Corporation | COM | 534187109 |  | 372 | 12100 | SH |  | SOLE |  | 0 | 0 | 12100 |
| Linde PLC | COM | G5494J103 |  | 3880 | 11895 | SH |  | SOLE |  | 0 | 0 | 11895 |
| Lockheed Martin | COM | 539830109 |  | 8330 | 17123 | SH |  | SOLE |  | 0 | 0 | 17123 |
| Lowes Companies Inc | COM | 548661107 |  | 19723 | 98992 | SH |  | SOLE |  | 0 | 0 | 98992 |
| Lululemon | COM | 550021109 |  | 2751 | 8586 | SH |  | SOLE |  | 0 | 0 | 8586 |
| M Bank Corp | COM | 55261F104 |  | 607 | 4186 | SH |  | SOLE |  | 0 | 0 | 4186 |
| Marathon Petroleum Corp | COM | 56585A102 |  | 412 | 3540 | SH |  | SOLE |  | 0 | 0 | 3540 |
| Marriott Intl New Class A | COM | 571903202 |  | 377 | 2534 | SH |  | SOLE |  | 0 | 0 | 2534 |
| Mastercard | COM | 57636Q104 |  | 4753 | 13669 | SH |  | SOLE |  | 0 | 0 | 13669 |
| McCormick and Co | COM | 579780206 |  | 643 | 7758 | SH |  | SOLE |  | 0 | 0 | 7758 |
| McDonalds Corp | COM | 580135101 |  | 24904 | 94501 | SH |  | SOLE |  | 0 | 0 | 94501 |
| Medtronic Plc | COM | G5960L103 |  | 7705 | 99144 | SH |  | SOLE |  | 0 | 0 | 99144 |
| Merck  Company Inc | COM | 58933Y105 |  | 6296 | 56742 | SH |  | SOLE |  | 0 | 0 | 56742 |
| Meta Platforms Inc | COM | 30303M102 |  | 1225 | 10180 | SH |  | SOLE |  | 0 | 0 | 10180 |
| Metlife Inc | COM | 59156R108 |  | 12944 | 178861 | SH |  | SOLE |  | 0 | 0 | 178861 |
| Microchip | COM | 595017104 |  | 1897 | 27000 | SH |  | SOLE |  | 0 | 0 | 27000 |
| Micron Technology | COM | 595112103 |  | 430 | 8599 | SH |  | SOLE |  | 0 | 0 | 8599 |
| Microsoft Corp | COM | 594918104 |  | 56919 | 237342 | SH |  | SOLE |  | 0 | 0 | 237342 |
| Mondelez Intl | COM | 609207105 |  | 2740 | 41116 | SH |  | SOLE |  | 0 | 0 | 41116 |
| Monster Beverage Corp. | COM | 61174X109 |  | 6280 | 61850 | SH |  | SOLE |  | 0 | 0 | 61850 |
| Morgan Stanley | COM | 617446448 |  | 11394 | 134010 | SH |  | SOLE |  | 0 | 0 | 134010 |
| Mosaic Co | COM | 61945C103 |  | 1114 | 25400 | SH |  | SOLE |  | 0 | 0 | 25400 |
| NaturalShrimp Inc | COM | 63902N106 |  | 8 | 95000 | SH |  | SOLE |  | 0 | 0 | 95000 |
| New York Times Company | COM | 650111107 |  | 3420 | 105370 | SH |  | SOLE |  | 0 | 0 | 105370 |
| NextEra Energy | COM | 65339F101 |  | 12032 | 143922 | SH |  | SOLE |  | 0 | 0 | 143922 |
| Nike Inc Cl B | COM | 654106103 |  | 7319 | 62554 | SH |  | SOLE |  | 0 | 0 | 62554 |
| Norfolk Southern | COM | 655844108 |  | 2920 | 11850 | SH |  | SOLE |  | 0 | 0 | 11850 |
| Northrop Grumman Corp | COM | 666807102 |  | 2905 | 5325 | SH |  | SOLE |  | 0 | 0 | 5325 |
| Novartis AG | COM | 66987V109 |  | 535 | 5896 | SH |  | SOLE |  | 0 | 0 | 5896 |
| Novo Nordisk ADR | COM | 670100205 |  | 1050 | 7758 | SH |  | SOLE |  | 0 | 0 | 7758 |
| Nucor Corp | COM | 670346105 |  | 847 | 6424 | SH |  | SOLE |  | 0 | 0 | 6424 |
| Nvidia Corp | COM | 67066G104 |  | 2411 | 16500 | SH |  | SOLE |  | 0 | 0 | 16500 |
| O'Reilly Automotive Inc | COM | 67103H107 |  | 221 | 262 | SH |  | SOLE |  | 0 | 0 | 262 |
| Occidental Petr Corp | COM | 674599105 |  | 326 | 5172 | SH |  | SOLE |  | 0 | 0 | 5172 |
| Okta Inc | COM | 679295105 |  | 957 | 14000 | SH |  | SOLE |  | 0 | 0 | 14000 |
| Oracle Corp | COM | 68389X105 |  | 17600 | 215319 | SH |  | SOLE |  | 0 | 0 | 215319 |
| Otis Worldwide | COM | 68902V107 |  | 313 | 4003 | SH |  | SOLE |  | 0 | 0 | 4003 |
| PNC Finl | COM | 693475105 |  | 1078 | 6825 | SH |  | SOLE |  | 0 | 0 | 6825 |
| PPG Industries | COM | 693506107 |  | 345 | 2740 | SH |  | SOLE |  | 0 | 0 | 2740 |
| PagerDuty Inc. | COM | 69553P100 |  | 5312 | 200000 | SH |  | SOLE |  | 0 | 0 | 200000 |
| PayPal Hldg Inc | COM | 70450Y103 |  | 3229 | 45334 | SH |  | SOLE |  | 0 | 0 | 45334 |
| Paychex Inc | COM | 704326107 |  | 18129 | 156880 | SH |  | SOLE |  | 0 | 0 | 156880 |
| Pentair PLC | COM | G7S00T104 |  | 309 | 6874 | SH |  | SOLE |  | 0 | 0 | 6874 |
| PepsiCo | COM | 713448108 |  | 4761 | 26354 | SH |  | SOLE |  | 0 | 0 | 26354 |
| Petroleo Brasileiro | COM | 71654V408 |  | 354 | 33200 | SH |  | SOLE |  | 0 | 0 | 33200 |
| Pfizer Inc | COM | 717081103 |  | 12885 | 251469 | SH |  | SOLE |  | 0 | 0 | 251469 |
| Philip Morris | COM | 718172109 |  | 4839 | 47809 | SH |  | SOLE |  | 0 | 0 | 47809 |
| Phillips 66 | COM | 718546104 |  | 1086 | 10439 | SH |  | SOLE |  | 0 | 0 | 10439 |
| Plains GP Holdings | COM | 72651A207 |  | 249 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| ProLogis Inc | COM | 74340W103 |  | 4058 | 35997 | SH |  | SOLE |  | 0 | 0 | 35997 |
| Procter  Gamble Co | COM | 742718109 |  | 45339 | 299151 | SH |  | SOLE |  | 0 | 0 | 299151 |
| Progressive Corp | COM | 743315103 |  | 519 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| Prudential Financial | COM | 744320102 |  | 804 | 8085 | SH |  | SOLE |  | 0 | 0 | 8085 |
| Qualcomm Inc | COM | 747525103 |  | 5134 | 46698 | SH |  | SOLE |  | 0 | 0 | 46698 |
| Quantum Scape Corp | COM | 71467V109 |  | 573 | 101000 | SH |  | SOLE |  | 0 | 0 | 101000 |
| Raytheon Technologies Corp | COM | 75513E101 |  | 13992 | 138640 | SH |  | SOLE |  | 0 | 0 | 138640 |
| Realty Income Corp | COM | 756109104 |  | 310 | 4889 | SH |  | SOLE |  | 0 | 0 | 4889 |
| Regions Financial Corp | COM | 7591EP100 |  | 1585 | 73500 | SH |  | SOLE |  | 0 | 0 | 73500 |
| Roper Technologies | COM | 776696106 |  | 2438 | 5643 | SH |  | SOLE |  | 0 | 0 | 5643 |
| Ross Stores | COM | 778296103 |  | 1524 | 13133 | SH |  | SOLE |  | 0 | 0 | 13133 |
| Royal Bank of Canada | COM | 780087102 |  | 376 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| S Global Inc. | COM | 78409V104 |  | 43796 | 130759 | SH |  | SOLE |  | 0 | 0 | 130759 |
| SPDR DJIA ETF Trust | COM | 78467X109 |  | 3976 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| SPDR S 500 Trust | COM | 78462F103 |  | 112513 | 294204 | SH |  | SOLE |  | 0 | 0 | 294204 |
| Salesforce.com Inc | COM | 79466L302 |  | 5841 | 44050 | SH |  | SOLE |  | 0 | 0 | 44050 |
| Schlumberger Ltd | COM | 806857108 |  | 1272 | 23800 | SH |  | SOLE |  | 0 | 0 | 23800 |
| Schwab International ETF | COM | 808524805 |  | 240 | 7444 | SH |  | SOLE |  | 0 | 0 | 7444 |
| Science Applications Intl Corp | COM | 808625107 |  | 388 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| Sealed Air | COM | 81211K100 |  | 1009 | 20233 | SH |  | SOLE |  | 0 | 0 | 20233 |
| ServiceNow | COM | 81762P102 |  | 310 | 799 | SH |  | SOLE |  | 0 | 0 | 799 |
| Shell PLC | COM | 780259305 |  | 211 | 3700 | SH |  | SOLE |  | 0 | 0 | 3700 |
| Sherwin-Williams | COM | 824348106 |  | 319 | 1343 | SH |  | SOLE |  | 0 | 0 | 1343 |
| Simon Property Group | COM | 828806109 |  | 2236 | 19030 | SH |  | SOLE |  | 0 | 0 | 19030 |
| Snap Inc | COM | 83304A106 |  | 103 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| Southern Co | COM | 842587107 |  | 1248 | 17475 | SH |  | SOLE |  | 0 | 0 | 17475 |
| Stanley Black  Decker | COM | 854502101 |  | 2093 | 27868 | SH |  | SOLE |  | 0 | 0 | 27868 |
| Starbucks Corp | COM | 855244109 |  | 13240 | 133467 | SH |  | SOLE |  | 0 | 0 | 133467 |
| Steel Dynamics Inc | COM | 858119100 |  | 1680 | 17200 | SH |  | SOLE |  | 0 | 0 | 17200 |
| Stryker | COM | 863667101 |  | 5171 | 21151 | SH |  | SOLE |  | 0 | 0 | 21151 |
| Sysco Corp | COM | 871829107 |  | 1332 | 17429 | SH |  | SOLE |  | 0 | 0 | 17429 |
| T Rowe Price Grp Inc | COM | 74144T108 |  | 610 | 5595 | SH |  | SOLE |  | 0 | 0 | 5595 |
| TJX Companies | COM | 872540109 |  | 17763 | 223148 | SH |  | SOLE |  | 0 | 0 | 223148 |
| Target Corp | COM | 87612E106 |  | 4300 | 28849 | SH |  | SOLE |  | 0 | 0 | 28849 |
| Tesla Motors Inc | COM | 88160R101 |  | 2722 | 22100 | SH |  | SOLE |  | 0 | 0 | 22100 |
| Texas Instruments | COM | 882508104 |  | 16849 | 101981 | SH |  | SOLE |  | 0 | 0 | 101981 |
| The Travelers Companies | COM | 89417E109 |  | 3694 | 19704 | SH |  | SOLE |  | 0 | 0 | 19704 |
| Thermo Fisher Scientific | COM | 883556102 |  | 1707 | 3100 | SH |  | SOLE |  | 0 | 0 | 3100 |
| Trane Tech PLC | COM | G8994E103 |  | 538 | 3200 | SH |  | SOLE |  | 0 | 0 | 3200 |
| Trex Company Inc | COM | 89531P105 |  | 271 | 6400 | SH |  | SOLE |  | 0 | 0 | 6400 |
| Truist Financial Corporation | COM | 89832Q109 |  | 9520 | 221242 | SH |  | SOLE |  | 0 | 0 | 221242 |
| U S Bancorp | COM | 902973304 |  | 6139 | 140781 | SH |  | SOLE |  | 0 | 0 | 140781 |
| Uber Technologies Inc | COM | 90353T100 |  | 2504 | 101257 | SH |  | SOLE |  | 0 | 0 | 101257 |
| Ulta Beauty Inc | COM | 90384S303 |  | 1782 | 3800 | SH |  | SOLE |  | 0 | 0 | 3800 |
| Unilever PLC ADR | COM | 904767704 |  | 205 | 4068 | SH |  | SOLE |  | 0 | 0 | 4068 |
| Union Pacific Corp | COM | 907818108 |  | 6881 | 33232 | SH |  | SOLE |  | 0 | 0 | 33232 |
| United Parcel Service Inc Cl B | COM | 911312106 |  | 8926 | 51345 | SH |  | SOLE |  | 0 | 0 | 51345 |
| UnitedHealth | COM | 91324P102 |  | 13980 | 26368 | SH |  | SOLE |  | 0 | 0 | 26368 |
| Vail Resorts Inc | COM | 91879Q109 |  | 232 | 972 | SH |  | SOLE |  | 0 | 0 | 972 |
| Valero Energy | COM | 91913Y100 |  | 1516 | 11953 | SH |  | SOLE |  | 0 | 0 | 11953 |
| Vanguard Ftse All-World Small | COM | 922042718 |  | 302 | 2939 | SH |  | SOLE |  | 0 | 0 | 2939 |
| Vanguard High Div Yld | COM | 921946406 |  | 839 | 7750 | SH |  | SOLE |  | 0 | 0 | 7750 |
| Vanguard S 500 ETF | COM | 922908363 |  | 3935 | 11200 | SH |  | SOLE |  | 0 | 0 | 11200 |
| Vanguard Total Stk Mkt ETF | COM | 922908769 |  | 568 | 2971 | SH |  | SOLE |  | 0 | 0 | 2971 |
| Verizon Communications Inc | COM | 92343V104 |  | 7674 | 194760 | SH |  | SOLE |  | 0 | 0 | 194760 |
| Vertex Pharmaceutical | COM | 92532F100 |  | 18736 | 64881 | SH |  | SOLE |  | 0 | 0 | 64881 |
| Visa Inc Cl A | COM | 92826C839 |  | 5720 | 27533 | SH |  | SOLE |  | 0 | 0 | 27533 |
| Vulcan Materials | COM | 929160109 |  | 2049 | 11700 | SH |  | SOLE |  | 0 | 0 | 11700 |
| W.W. Grainger | COM | 384802104 |  | 478 | 860 | SH |  | SOLE |  | 0 | 0 | 860 |
| Wal-Mart Stores Inc | COM | 931142103 |  | 225693 | 1591743 | SH |  | SOLE |  | 0 | 0 | 1591743 |
| Walgreens Boots | COM | 931427108 |  | 424 | 11359 | SH |  | SOLE |  | 0 | 0 | 11359 |
| Walt Disney Company | COM | 254687106 |  | 5747 | 66151 | SH |  | SOLE |  | 0 | 0 | 66151 |
| Wells Fargo  Co | COM | 949746101 |  | 1630 | 39481 | SH |  | SOLE |  | 0 | 0 | 39481 |
| West Pharmaceutical Services | COM | 955306105 |  | 8199 | 34839 | SH |  | SOLE |  | 0 | 0 | 34839 |
| Williams-Sonoma | COM | 969904101 |  | 1839 | 16000 | SH |  | SOLE |  | 0 | 0 | 16000 |
| YUM Brands | COM | 988498101 |  | 10575 | 82568 | SH |  | SOLE |  | 0 | 0 | 82568 |
| Zebra Technologies Corp | COM | 989207105 |  | 231 | 900 | SH |  | SOLE |  | 0 | 0 | 900 |
| Zoetis Inc | COM | 98978V103 |  | 536 | 3656 | SH |  | SOLE |  | 0 | 0 | 3656 |
| Zscaler Inc | COM | 98980G102 |  | 224 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| iShares Russell 1000 Growth ET | COM | 464287614 |  | 1200 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |

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