# EDGAR Filing Document

**Accession Number:** 0001768130
**File Stem:** 0001768130-23-000001
**Filing Date:** 2023-1
**Character Count:** 17981
**Document Hash:** 9fd948303582806606be6e28d974503a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001768130-23-000001.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001768130-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**EFFECTIVENESS DATE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HOWARD FINANCIAL SERVICES, LTD.
- **CENTRAL INDEX KEY:** 0001768130
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19410
- **FILM NUMBER:** 23527887

**BUSINESS ADDRESS:**
- **STREET 1:** 8350 MEADOW ROAD
- **STREET 2:** SUITE 181
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75231
- **BUSINESS PHONE:** 214-346-0785

**MAIL ADDRESS:**
- **STREET 1:** 8350 MEADOW ROAD
- **STREET 2:** SUITE 181
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75231

### 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:** HOWARD FINANCIAL SERVICES LTD.<br>**Address:** 8350 MEADOW ROAD<br>SUITE 181<br>DALLAS, TX 75231

**Form 13F File Number:** 028-19410

**CRD Number (if applicable):** 000107978

**SEC File Number (if applicable):** 801-46741

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 Howard<br>**Title:** CCO<br>**Phone:** 214-346-0760

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

John Howard  Dallas, TX  01-13-2023<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:** 141

**Form 13F Information Table Value Total:** $380720221

      (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 |
| ABBVIE INC | COM | 00287Y109 |  | 507575 | 3141 | SH |  | SOLE | 0 | 0 | 0 | 3141 |
| AGNC INVT CORP | COM | 00123Q104 |  | 431136 | 41656 | SH |  | SOLE | 0 | 0 | 0 | 41656 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 374618 | 4222 | SH |  | SOLE | 0 | 0 | 0 | 4222 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 459678 | 5210 | SH |  | SOLE | 0 | 0 | 0 | 5210 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 244541 | 5350 | SH |  | SOLE | 0 | 0 | 0 | 5350 |
| AMAZON COM INC | COM | 023135106 |  | 1596756 | 19009 | SH |  | SOLE | 0 | 0 | 0 | 19009 |
| AMGEN INC | COM | 031162100 |  | 432658 | 1647 | SH |  | SOLE | 0 | 0 | 0 | 1647 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 |  | 430894 | 20441 | SH |  | SOLE | 0 | 0 | 0 | 20441 |
| APPLE INC | COM | 037833100 |  | 9716745 | 74784 | SH |  | SOLE | 0 | 0 | 0 | 74784 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 39900 | 30000 | SH | Call | SOLE | 0 | 0 | 0 | 30000 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 546616 | 8062 | SH |  | SOLE | 0 | 0 | 0 | 8062 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 947087 | 3066 | SH |  | SOLE | 0 | 0 | 0 | 3066 |
| BLACK STONE MINERALS L P | COM UNIT | 09225M101 |  | 1574430 | 93327 | SH |  | SOLE | 0 | 0 | 0 | 93327 |
| BLACKSTONE INC | COM | 09260D107 |  | 228768 | 3084 | SH |  | SOLE | 0 | 0 | 0 | 3084 |
| BROADCOM INC | COM | 11135F101 |  | 569735 | 1019 | SH |  | SOLE | 0 | 0 | 0 | 1019 |
| CADENCE BANK | COM | 12740C103 |  | 1402094 | 56857 | SH |  | SOLE | 0 | 0 | 0 | 56857 |
| CHEVRON CORP NEW | COM | 166764100 |  | 458438 | 2554 | SH |  | SOLE | 0 | 0 | 0 | 2554 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 2586281 | 1864 | SH |  | SOLE | 0 | 0 | 0 | 1864 |
| CINEMARK HLDGS INC | COM | 17243V102 |  | 96221 | 11111 | SH |  | SOLE | 0 | 0 | 0 | 11111 |
| CISCO SYS INC | COM | 17275R102 |  | 392002 | 8228 | SH |  | SOLE | 0 | 0 | 0 | 8228 |
| COCA COLA CO | COM | 191216100 |  | 316059 | 4969 | SH |  | SOLE | 0 | 0 | 0 | 4969 |
| COMSTOCK RES INC | COM | 205768302 |  | 332474 | 24250 | SH |  | SOLE | 0 | 0 | 0 | 24250 |
| CONDUENT INC | COM | 206787103 |  | 40500 | 10000 | SH |  | SOLE | 0 | 0 | 0 | 10000 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 476806 | 4041 | SH |  | SOLE | 0 | 0 | 0 | 4041 |
| DIREXION SHS ETF TR | SELECT LARGE CAP | 25460G575 |  | 92051 | 30280 | SH |  | SOLE | 0 | 0 | 0 | 30280 |
| DIREXION SHS ETF TR | DLY MIDCAP ETF3X | 25459W730 |  | 282320 | 8000 | SH |  | SOLE | 0 | 0 | 0 | 8000 |
| DIREXION SHS ETF TR | NAS100 EQL WGT | 25459Y207 |  | 208189 | 3262 | SH |  | SOLE | 0 | 0 | 0 | 3262 |
| DORCHESTER MINERALS LP | COM UNIT | 25820R105 |  | 1026802 | 34307 | SH |  | SOLE | 0 | 0 | 0 | 34307 |
| DYNEX CAP INC | COM | 26817Q886 |  | 239565 | 18834 | SH |  | SOLE | 0 | 0 | 0 | 18834 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 1875901 | 158037 | SH |  | SOLE | 0 | 0 | 0 | 158037 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1055280 | 9567 | SH |  | SOLE | 0 | 0 | 0 | 9567 |
| EZCORP INC | CL A NON VTG | 302301106 |  | 122250 | 15000 | SH |  | SOLE | 0 | 0 | 0 | 15000 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 |  | 1869087 | 111255 | SH |  | SOLE | 0 | 0 | 0 | 111255 |
| FIRST TR EXCHANGE TRADED FD | HLTH CARE ALPH | 33734X143 |  | 212024 | 1950 | SH |  | SOLE | 0 | 0 | 0 | 1950 |
| FIRST TR EXCHANGE-TRADED FD | RISNG DIVD ACHIV | 33738R506 |  | 5730496 | 130476 | SH |  | SOLE | 0 | 0 | 0 | 130476 |
| FIRST TR EXCHNG TRADED FD VI | TCW OPPORTUNIS | 33740F805 |  | 9738233 | 221727 | SH |  | SOLE | 0 | 0 | 0 | 221727 |
| GANNETT CO INC | COM | 36472T109 |  | 162400 | 80000 | SH |  | SOLE | 0 | 0 | 0 | 80000 |
| GOODYEAR TIRE  RUBR CO | COM | 382550101 |  | 131950 | 13000 | SH |  | SOLE | 0 | 0 | 0 | 13000 |
| GRAHAM HLDGS CO | COM CL B | 384637104 |  | 494453 | 818 | SH |  | SOLE | 0 | 0 | 0 | 818 |
| HANESBRANDS INC | COM | 410345102 |  | 141624 | 22268 | SH |  | SOLE | 0 | 0 | 0 | 22268 |
| HARTFORD FDS EXCHANGE TRADED | TOTAL RTRN ETF | 41653L305 |  | 10131989 | 306658 | SH |  | SOLE | 0 | 0 | 0 | 306658 |
| HOME DEPOT INC | COM | 437076102 |  | 214140 | 678 | SH |  | SOLE | 0 | 0 | 0 | 678 |
| HONEYWELL INTL INC | COM | 438516106 |  | 265518 | 1239 | SH |  | SOLE | 0 | 0 | 0 | 1239 |
| INDEPENDENT BANK GROUP INC | COM | 45384B106 |  | 1602933 | 26680 | SH |  | SOLE | 0 | 0 | 0 | 26680 |
| INVESCO ACTIVELY MANAGED ETF | TOTAL RETURN | 46090A804 |  | 5335158 | 114809 | SH |  | SOLE | 0 | 0 | 0 | 114809 |
| INVESCO EXCHANGE TRADED FD T | S 500 GARP ETF | 46137V431 |  | 7144512 | 86495 | SH |  | SOLE | 0 | 0 | 0 | 86495 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 42285488 | 299366 | SH |  | SOLE | 0 | 0 | 0 | 299366 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 4184709 | 15715 | SH |  | SOLE | 0 | 0 | 0 | 15715 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 102057 | 15000 | SH | Call | SOLE | 0 | 0 | 0 | 15000 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 206364 | 5966 | SH |  | SOLE | 0 | 0 | 0 | 5966 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 513840 | 11003 | SH |  | SOLE | 0 | 0 | 0 | 11003 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 200338 | 9098 | SH |  | SOLE | 0 | 0 | 0 | 9098 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 822861 | 7486 | SH |  | SOLE | 0 | 0 | 0 | 7486 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 569636 | 2355 | SH |  | SOLE | 0 | 0 | 0 | 2355 |
| ISHARES TR | CORE S ETF | 464287200 |  | 661225 | 1721 | SH |  | SOLE | 0 | 0 | 0 | 1721 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 231207 | 1098 | SH |  | SOLE | 0 | 0 | 0 | 1098 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 519827 | 2981 | SH |  | SOLE | 0 | 0 | 0 | 2981 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 816036 | 12432 | SH |  | SOLE | 0 | 0 | 0 | 12432 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 510425 | 6288 | SH |  | SOLE | 0 | 0 | 0 | 6288 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 1382704 | 22432 | SH |  | SOLE | 0 | 0 | 0 | 22432 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 256877 | 3563 | SH |  | SOLE | 0 | 0 | 0 | 3563 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 40611094 | 356363 | SH |  | SOLE | 0 | 0 | 0 | 356363 |
| ISHARES TR | HDG MSCI EAFE | 46434V803 |  | 302778 | 11214 | SH |  | SOLE | 0 | 0 | 0 | 11214 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 361388 | 4264 | SH |  | SOLE | 0 | 0 | 0 | 4264 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 |  | 12954552 | 399955 | SH |  | SOLE | 0 | 0 | 0 | 399955 |
| ISHARES TR | MSCI LW CRB TG | 46434V464 |  | 262751 | 1902 | SH |  | SOLE | 0 | 0 | 0 | 1902 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 6369084 | 127051 | SH |  | SOLE | 0 | 0 | 0 | 127051 |
| J P MORGAN EXCHANGE TRADED F | BETABUILDERS EUR | 46641Q191 |  | 282998 | 5835 | SH |  | SOLE | 0 | 0 | 0 | 5835 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 1210332 | 22212 | SH |  | SOLE | 0 | 0 | 0 | 22212 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 517630 | 12687 | SH |  | SOLE | 0 | 0 | 0 | 12687 |
| JANUS INTERNATIONAL GROUP IN | COMMON STOCK | 47103N106 |  | 998896 | 104926 | SH |  | SOLE | 0 | 0 | 0 | 104926 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 460829 | 2609 | SH |  | SOLE | 0 | 0 | 0 | 2609 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 581444 | 4336 | SH |  | SOLE | 0 | 0 | 0 | 4336 |
| LATTICE STRATEGIES TR | HARTFORD MLT ETF | 518416102 |  | 6618740 | 266992 | SH |  | SOLE | 0 | 0 | 0 | 266992 |
| MANAGED PORTFOLIO SERIES | TORTOISE NRAM PI | 56167N720 |  | 465558 | 18856 | SH |  | SOLE | 0 | 0 | 0 | 18856 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 730317 | 2100 | SH |  | SOLE | 0 | 0 | 0 | 2100 |
| MCDONALDS CORP | COM | 580135101 |  | 226082 | 858 | SH |  | SOLE | 0 | 0 | 0 | 858 |
| MERCK  CO INC | COM | 58933Y105 |  | 696386 | 6277 | SH |  | SOLE | 0 | 0 | 0 | 6277 |
| MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 |  | 63140 | 14000 | SH |  | SOLE | 0 | 0 | 0 | 14000 |
| MICROSOFT CORP | COM | 594918104 |  | 3423873 | 14277 | SH |  | SOLE | 0 | 0 | 0 | 14277 |
| NETFLIX INC | COM | 64110L106 |  | 291341 | 988 | SH |  | SOLE | 0 | 0 | 0 | 988 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 482490 | 1958 | SH |  | SOLE | 0 | 0 | 0 | 1958 |
| NORTHERN LTS FD TR III | FPA GBL EQTY ETF | 66538R631 |  | 897510 | 43074 | SH |  | SOLE | 0 | 0 | 0 | 43074 |
| NORTHERN OIL AND GAS INC MN | COM | 665531307 |  | 253155 | 8214 | SH |  | SOLE | 0 | 0 | 0 | 8214 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 912893 | 1673 | SH |  | SOLE | 0 | 0 | 0 | 1673 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 560602 | 3836 | SH |  | SOLE | 0 | 0 | 0 | 3836 |
| ONEOK INC NEW | COM | 682680103 |  | 899170 | 13686 | SH |  | SOLE | 0 | 0 | 0 | 13686 |
| PACER FDS TR | US CHS CWS GWT | 69374H667 |  | 270438 | 7512 | SH |  | SOLE | 0 | 0 | 0 | 7512 |
| PACER FDS TR | PACER US SMALL | 69374H857 |  | 8293011 | 230682 | SH |  | SOLE | 0 | 0 | 0 | 230682 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 64630 | 10067 | SH |  | SOLE | 0 | 0 | 0 | 10067 |
| PEPSICO INC | COM | 713448108 |  | 3062358 | 16951 | SH |  | SOLE | 0 | 0 | 0 | 16951 |
| PFIZER INC | COM | 717081103 |  | 225072 | 4392 | SH |  | SOLE | 0 | 0 | 0 | 4392 |
| PGIM ETF TR | TOTAL RETURN BON | 69344A800 |  | 7792962 | 190858 | SH |  | SOLE | 0 | 0 | 0 | 190858 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 432774 | 4276 | SH |  | SOLE | 0 | 0 | 0 | 4276 |
| PIONEER NAT RES CO | COM | 723787107 |  | 365981 | 1602 | SH |  | SOLE | 0 | 0 | 0 | 1602 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 252254 | 1664 | SH |  | SOLE | 0 | 0 | 0 | 1664 |
| PROSHARES TR | ULTRAPRO QQQ | 74347X831 |  | 320050 | 18500 | SH |  | SOLE | 0 | 0 | 0 | 18500 |
| SABINE RTY TR | UNIT BEN INT | 785688102 |  | 2148779 | 25214 | SH |  | SOLE | 0 | 0 | 0 | 25214 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 365795 | 7583 | SH |  | SOLE | 0 | 0 | 0 | 7583 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 2342346 | 72721 | SH |  | SOLE | 0 | 0 | 0 | 72721 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 2285745 | 96567 | SH |  | SOLE | 0 | 0 | 0 | 96567 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US SC | 808524763 |  | 762031 | 16311 | SH |  | SOLE | 0 | 0 | 0 | 16311 |
| SCHWAB STRATEGIC TR | SCHWB FDT INT LG | 808524755 |  | 7592059 | 261165 | SH |  | SOLE | 0 | 0 | 0 | 261165 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 47458923 | 628262 | SH |  | SOLE | 0 | 0 | 0 | 628262 |
| SIREN ETF TR | DIVCN LDRS ETF | 829658301 |  | 501773 | 10288 | SH |  | SOLE | 0 | 0 | 0 | 10288 |
| SNAP INC | CL A | 83304A106 |  | 89500 | 10000 | SH |  | SOLE | 0 | 0 | 0 | 10000 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 644504 | 19142 | SH |  | SOLE | 0 | 0 | 0 | 19142 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 357940 | 2110 | SH |  | SOLE | 0 | 0 | 0 | 2110 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 373178 | 11322 | SH |  | SOLE | 0 | 0 | 0 | 11322 |
| SPDR INDEX SHS FDS | GLB NAT RESRCE | 78463X541 |  | 291761 | 5117 | SH |  | SOLE | 0 | 0 | 0 | 5117 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 1123627 | 37845 | SH |  | SOLE | 0 | 0 | 0 | 37845 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 9577629 | 25044 | SH |  | SOLE | 0 | 0 | 0 | 25044 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 349804 | 790 | SH |  | SOLE | 0 | 0 | 0 | 790 |
| SPDR SER TR | S 600 SMCP VAL | 78464A300 |  | 406603 | 5478 | SH |  | SOLE | 0 | 0 | 0 | 5478 |
| SPDR SER TR | BLOOMBERG 1-3 MO | 78468R663 |  | 1592309 | 17408 | SH |  | SOLE | 0 | 0 | 0 | 17408 |
| SPDR SER TR | BLOOMBERG SHT TE | 78468R408 |  | 3111378 | 128357 | SH |  | SOLE | 0 | 0 | 0 | 128357 |
| SPDR SER TR | PRTFLO S HI | 78468R788 |  | 403311 | 10190 | SH |  | SOLE | 0 | 0 | 0 | 10190 |
| SSGA ACTIVE ETF TR | SPDR TR TACTIC | 78467V848 |  | 9004820 | 224896 | SH |  | SOLE | 0 | 0 | 0 | 224896 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 222110 | 7000 | SH |  | SOLE | 0 | 0 | 0 | 7000 |
| TESLA INC | COM | 88160R101 |  | 325442 | 2642 | SH |  | SOLE | 0 | 0 | 0 | 2642 |
| TEXAS INSTRS INC | COM | 882508104 |  | 289236 | 1751 | SH |  | SOLE | 0 | 0 | 0 | 1751 |
| TWO HBRS INVT CORP | COM NEW | 90187B408 |  | 597131 | 37865 | SH |  | SOLE | 0 | 0 | 0 | 37865 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 233279 | 440 | SH |  | SOLE | 0 | 0 | 0 | 440 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 238116 | 8308 | SH |  | SOLE | 0 | 0 | 0 | 8308 |
| VANECK ETF TRUST | FALLEN ANGEL HG | 92189F437 |  | 2871648 | 106279 | SH |  | SOLE | 0 | 0 | 0 | 106279 |
| VANECK ETF TRUST | MRNGSTR WDE MOAT | 92189F643 |  | 1020556 | 15723 | SH |  | SOLE | 0 | 0 | 0 | 15723 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 1322901 | 17573 | SH |  | SOLE | 0 | 0 | 0 | 17573 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 690900 | 8377 | SH |  | SOLE | 0 | 0 | 0 | 8377 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 380815 | 2866 | SH |  | SOLE | 0 | 0 | 0 | 2866 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1156229 | 6048 | SH |  | SOLE | 0 | 0 | 0 | 6048 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 205607 | 5275 | SH |  | SOLE | 0 | 0 | 0 | 5275 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 436551 | 8821 | SH |  | SOLE | 0 | 0 | 0 | 8821 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 27387411 | 180358 | SH |  | SOLE | 0 | 0 | 0 | 180358 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 10754061 | 154446 | SH |  | SOLE | 0 | 0 | 0 | 154446 |
| VANGUARD WORLD FDS | INF TECH ETF | 92204A702 |  | 207093 | 648 | SH |  | SOLE | 0 | 0 | 0 | 648 |
| VIPER ENERGY PARTNERS LP | COM UNT RP INT | 92763M105 |  | 647298 | 20362 | SH |  | SOLE | 0 | 0 | 0 | 20362 |
| VISA INC | COM CL A | 92826C839 |  | 292712 | 1409 | SH |  | SOLE | 0 | 0 | 0 | 1409 |
| WALMART INC | COM | 931142103 |  | 383164 | 2702 | SH |  | SOLE | 0 | 0 | 0 | 2702 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 4080153 | 67597 | SH |  | SOLE | 0 | 0 | 0 | 67597 |
| WISDOMTREE TR | EM EX ST-OWNED | 97717X578 |  | 7792670 | 292079 | SH |  | SOLE | 0 | 0 | 0 | 292079 |
| YUM BRANDS INC | COM | 988498101 |  | 344279 | 2688 | SH |  | SOLE | 0 | 0 | 0 | 2688 |

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