# EDGAR Filing Document

**Accession Number:** 0001555486
**File Stem:** 0001172661-26-000706
**Filing Date:** 2026-2
**Character Count:** 22377
**Document Hash:** 3c891fafca067a5517eafdc0e8f333b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-000706.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001172661-26-000706

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260212

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Baltimore-Washington Financial Advisors, Inc.
- **CENTRAL INDEX KEY:** 0001555486

**ORGANIZATION NAME:**
- **EIN:** 521677425
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15682
- **FILM NUMBER:** 26628298

**BUSINESS ADDRESS:**
- **STREET 1:** 10960 GRANTCHESTER WAY
- **STREET 2:** SUITE 110
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21044
- **BUSINESS PHONE:** 410-461-3900

**MAIL ADDRESS:**
- **STREET 1:** 10960 GRANTCHESTER WAY
- **STREET 2:** SUITE 110
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21044

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Baltimore-Washington Financial Advisors Inc.<br>**Address:** 10960 Grantchester Way<br>Suite 110<br>Columbia, MD 21044

**Form 13F File Number:** 028-15682

**CRD Number (if applicable):** 000159388

**SEC File Number (if applicable):** 801-76893

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:** Robert Carpenter<br>**Title:** Chief Compliance Officer<br>**Phone:** 410-461-3900

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

/s/ Robert Carpenter  Columbia, MD  02-12-2026<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:** 188

**Form 13F Information Table Value Total:** $2403983314

      (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 |  | 336519 | 2102 | SH |  | SOLE |  | 2102 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 423069 | 1852 | SH |  | SOLE |  | 1852 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 272710 | 1104 | SH |  | SOLE |  | 1104 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 16049192 | 51275 | SH |  | SOLE |  | 51275 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 66821098 | 212942 | SH |  | SOLE |  | 212942 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 56521837 | 244874 | SH |  | SOLE |  | 244874 | 0 | 0 |
| AMERICAN CENTY ETF TR | US SML CP VALU | 025072877 |  | 637375 | 6250 | SH |  | SOLE |  | 6250 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 349603 | 945 | SH |  | SOLE |  | 945 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 539605 | 1649 | SH |  | SOLE |  | 1649 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 63481339 | 233508 | SH |  | SOLE |  | 233508 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 12408489 | 613371 | SH |  | SOLE |  | 613371 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 34772217 | 265376 | SH |  | SOLE |  | 265376 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 11188596 | 10458 | SH |  | SOLE |  | 10458 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 1385226 | 55766 | SH |  | SOLE |  | 55766 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 351891 | 1368 | SH |  | SOLE |  | 1368 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 601132 | 10930 | SH |  | SOLE |  | 10930 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 39421332 | 78427 | SH |  | SOLE |  | 78427 | 0 | 0 |
| BLACKROCK ETF TRUST | ISHARES US EQUIT | 09290C103 |  | 272246 | 4477 | SH |  | SOLE |  | 4477 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 20824520 | 19455 | SH |  | SOLE |  | 19455 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 35124970 | 227877 | SH |  | SOLE |  | 227877 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 251643 | 1159 | SH |  | SOLE |  | 1159 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 32353720 | 6041 | SH |  | SOLE |  | 6041 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 237380 | 6835 | SH |  | SOLE |  | 6835 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 18067842 | 52204 | SH |  | SOLE |  | 52204 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 405791 | 708 | SH |  | SOLE |  | 708 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 545269 | 3578 | SH |  | SOLE |  | 3578 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 484330 | 13090 | SH |  | SOLE |  | 13090 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 274789 | 3567 | SH |  | SOLE |  | 3567 | 0 | 0 |
| CLEAR SECURE INC | COM CL A | 18467V109 |  | 350835 | 10001 | SH |  | SOLE |  | 10001 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 328030 | 4693 | SH |  | SOLE |  | 4693 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 570875 | 3093 | SH |  | SOLE |  | 3093 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 925583 | 2620 | SH |  | SOLE |  | 2620 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 237876 | 6076 | SH |  | SOLE |  | 6076 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 38371113 | 44496 | SH |  | SOLE |  | 44496 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 22937834 | 48933 | SH |  | SOLE |  | 48933 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 258898 | 7142 | SH |  | SOLE |  | 7142 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 263512 | 566 | SH |  | SOLE |  | 566 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 1407907 | 12375 | SH |  | SOLE |  | 12375 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 684422 | 11682 | SH |  | SOLE |  | 11682 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 291151 | 12453 | SH |  | SOLE |  | 12453 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 1201414 | 34864 | SH |  | SOLE |  | 34864 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 283756 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| DUTCH BROS INC | CL A | 26701L100 |  | 330588 | 5400 | SH |  | SOLE |  | 5400 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 3630269 | 3378 | SH |  | SOLE |  | 3378 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 251417 | 5768 | SH |  | SOLE |  | 5768 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1508622 | 12536 | SH |  | SOLE |  | 12536 | 0 | 0 |
| FERRARI N V | COM | N3167Y103 |  | 5945482 | 16088 | SH |  | SOLE |  | 16088 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | DJ INTERNT IDX | 33733E302 |  | 237955 | 884 | SH |  | SOLE |  | 884 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | GBL WND ENRG ETF | 33736G106 |  | 254688 | 12442 | SH |  | SOLE |  | 12442 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SHS | 337345102 |  | 326668 | 1419 | SH |  | SOLE |  | 1419 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 9143665 | 115145 | SH |  | SOLE |  | 115145 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 14276461 | 55166 | SH |  | SOLE |  | 55166 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 324047 | 1052 | SH |  | SOLE |  | 1052 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 403906 | 618 | SH |  | SOLE |  | 618 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 395390 | 8503 | SH |  | SOLE |  | 8503 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 6043044 | 17562 | SH |  | SOLE |  | 17562 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 431344 | 2211 | SH |  | SOLE |  | 2211 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 221217 | 1079 | SH |  | SOLE |  | 1079 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 23408173 | 144531 | SH |  | SOLE |  | 144531 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 472456 | 1595 | SH |  | SOLE |  | 1595 | 0 | 0 |
| INTUITIVE MACHINES INC | CLASS A COM | 46125A100 |  | 357969 | 22056 | SH |  | SOLE |  | 22056 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S SMLCP INFO | 46138E115 |  | 1164331 | 20569 | SH |  | SOLE |  | 20569 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 |  | 75400241 | 1656784 | SH |  | SOLE |  | 1656784 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 67968119 | 354814 | SH |  | SOLE |  | 354814 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 106946935 | 174093 | SH |  | SOLE |  | 174093 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 280331 | 4170 | SH |  | SOLE |  | 4170 | 0 | 0 |
| ISHARES TR | CORE MSCI INTL | 46435G326 |  | 11455263 | 138885 | SH |  | SOLE |  | 138885 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 207733 | 3147 | SH |  | SOLE |  | 3147 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 912349 | 7592 | SH |  | SOLE |  | 7592 | 0 | 0 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 214379 | 1442 | SH |  | SOLE |  | 1442 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 69792429 | 101896 | SH |  | SOLE |  | 101896 | 0 | 0 |
| ISHARES TR | CORE UNIVRSL USD | 46434V613 |  | 463631 | 9962 | SH |  | SOLE |  | 9962 | 0 | 0 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 241027 | 5242 | SH |  | SOLE |  | 5242 | 0 | 0 |
| ISHARES TR | IBDS DEC28 ETF | 46435U515 |  | 25276724 | 992996 | SH |  | SOLE |  | 992996 | 0 | 0 |
| ISHARES TR | IBONDS 2026 TERM | 46436E528 |  | 11025178 | 477694 | SH |  | SOLE |  | 477694 | 0 | 0 |
| ISHARES TR | IBONDS 26 TRM TS | 46436E858 |  | 10333703 | 451747 | SH |  | SOLE |  | 451747 | 0 | 0 |
| ISHARES TR | IBONDS 28 TR HI | 46436E387 |  | 28448325 | 1201619 | SH |  | SOLE |  | 1201619 | 0 | 0 |
| ISHARES TR | IBONDS 28 TRM TS | 46436E833 |  | 16013880 | 716024 | SH |  | SOLE |  | 716024 | 0 | 0 |
| ISHARES TR | IBONDS 29 TR HI | 46436E379 |  | 11877757 | 502656 | SH |  | SOLE |  | 502656 | 0 | 0 |
| ISHARES TR | IBONDS 29 TRM TS | 46436E825 |  | 3692511 | 168262 | SH |  | SOLE |  | 168262 | 0 | 0 |
| ISHARES TR | IBONDS DEC 29 | 46436E205 |  | 9609462 | 410573 | SH |  | SOLE |  | 410573 | 0 | 0 |
| ISHARES TR | IBONDS DEC2026 | 46435GAA0 |  | 11869053 | 489849 | PRN |  | SOLE |  | 489849 | 0 | 0 |
| ISHARES TR | INTL DIV GRWTH | 46435G524 |  | 13893354 | 167855 | SH |  | SOLE |  | 167855 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 1106624 | 6557 | SH |  | SOLE |  | 6557 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 216022 | 1088 | SH |  | SOLE |  | 1088 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1494709 | 3158 | SH |  | SOLE |  | 3158 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 640914 | 3047 | SH |  | SOLE |  | 3047 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 973727 | 6903 | SH |  | SOLE |  | 6903 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 7131203 | 74075 | SH |  | SOLE |  | 74075 | 0 | 0 |
| ISHARES TR | RUS TP200 GR ETF | 464289438 |  | 608160 | 2196 | SH |  | SOLE |  | 2196 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1376554 | 5592 | SH |  | SOLE |  | 5592 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 466212 | 1359 | SH |  | SOLE |  | 1359 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 335267 | 2720 | SH |  | SOLE |  | 2720 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 377272 | 1779 | SH |  | SOLE |  | 1779 | 0 | 0 |
| ISHARES TR | S SML 600 GWT | 464287887 |  | 5800120 | 41089 | SH |  | SOLE |  | 41089 | 0 | 0 |
| ISHARES TR | U.S. FIN SVC ETF | 464287770 |  | 38428451 | 416568 | SH |  | SOLE |  | 416568 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 798052 | 3856 | SH |  | SOLE |  | 3856 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 44468573 | 138007 | SH |  | SOLE |  | 138007 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 7506277 | 58882 | SH |  | SOLE |  | 58882 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 224287 | 894 | SH |  | SOLE |  | 894 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 430000 | 889 | SH |  | SOLE |  | 889 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 28541495 | 91998 | SH |  | SOLE |  | 91998 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 240743 | 787 | SH |  | SOLE |  | 787 | 0 | 0 |
| MEDICAL PPTYS TRUST INC | COM | 58463J304 |  | 77125 | 15425 | SH |  | SOLE |  | 15425 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 456828 | 4340 | SH |  | SOLE |  | 4340 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 37693162 | 57103 | SH |  | SOLE |  | 57103 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 67085210 | 138715 | SH |  | SOLE |  | 138715 | 0 | 0 |
| NASDAQ INC | COM | 631103108 |  | 18831015 | 193874 | SH |  | SOLE |  | 193874 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 381321 | 4067 | SH |  | SOLE |  | 4067 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1310972 | 16330 | SH |  | SOLE |  | 16330 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG LRGCP | 67092P201 |  | 1587588 | 16233 | SH |  | SOLE |  | 16233 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 100397842 | 538326 | SH |  | SOLE |  | 538326 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 15667432 | 337079 | SH |  | SOLE |  | 337079 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 280670 | 1440 | SH |  | SOLE |  | 1440 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 315506 | 1775 | SH |  | SOLE |  | 1775 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 235466 | 1640 | SH |  | SOLE |  | 1640 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 262090 | 10526 | SH |  | SOLE |  | 10526 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 |  | 273243 | 10554 | SH |  | SOLE |  | 10554 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 921531 | 4415 | SH |  | SOLE |  | 4415 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 522824 | 14929 | SH |  | SOLE |  | 14929 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 435672 | 3040 | SH |  | SOLE |  | 3040 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 929594 | 4044 | SH |  | SOLE |  | 4044 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 930877 | 13344 | SH |  | SOLE |  | 13344 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 413192 | 1062 | SH |  | SOLE |  | 1062 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 22402251 | 80317 | SH |  | SOLE |  | 80317 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 241355 | 1316 | SH |  | SOLE |  | 1316 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 6484725 | 26696 | SH |  | SOLE |  | 26696 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 432968 | 16507 | SH |  | SOLE |  | 16507 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 422988 | 15718 | SH |  | SOLE |  | 15718 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET COM | 81369Y852 |  | 45563840 | 387052 | SH |  | SOLE |  | 387052 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 342958 | 7671 | SH |  | SOLE |  | 7671 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 7183095 | 46403 | SH |  | SOLE |  | 46403 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 18789385 | 116726 | SH |  | SOLE |  | 116726 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 21311672 | 814044 | SH |  | SOLE |  | 814044 | 0 | 0 |
| SOURCE CAPITAL | COM SHS OF BEN I | 836144303 |  | 684341 | 14955 | SH |  | SOLE |  | 14955 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 10709554 | 122816 | SH |  | SOLE |  | 122816 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 256023 | 533 | SH |  | SOLE |  | 533 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 1320353 | 29731 | SH |  | SOLE |  | 29731 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 429669 | 9179 | SH |  | SOLE |  | 9179 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 27065900 | 39690 | SH |  | SOLE |  | 39690 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 2467061 | 4090 | SH |  | SOLE |  | 4090 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A847 |  | 423991 | 7322 | SH |  | SOLE |  | 7322 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A201 |  | 532644 | 5655 | SH |  | SOLE |  | 5655 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A763 |  | 3870863 | 27816 | SH |  | SOLE |  | 27816 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A474 |  | 379916 | 12580 | SH |  | SOLE |  | 12580 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A508 |  | 1431729 | 25202 | SH |  | SOLE |  | 25202 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R705 |  | 21173387 | 72494 | SH |  | SOLE |  | 72494 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A409 |  | 46408516 | 434944 | SH |  | SOLE |  | 434944 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A706 |  | 13276977 | 79646 | SH |  | SOLE |  | 79646 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R804 |  | 51867825 | 295425 | SH |  | SOLE |  | 295425 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 9664440 | 120474 | SH |  | SOLE |  | 120474 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R853 |  | 807351 | 17229 | SH |  | SOLE |  | 17229 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A805 |  | 60472328 | 732998 | SH |  | SOLE |  | 732998 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R531 |  | 26081558 | 394279 | SH |  | SOLE |  | 394279 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 319971 | 551 | SH |  | SOLE |  | 551 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 28040578 | 79781 | SH |  | SOLE |  | 79781 | 0 | 0 |
| TEMPLETON DRAGON FD INC | COM | 88018T101 |  | 257460 | 22865 | SH |  | SOLE |  | 22865 | 0 | 0 |
| TEMPLETON EMERGING MKTS FD | COM | 880191101 |  | 324949 | 19081 | SH |  | SOLE |  | 19081 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 1422465 | 3163 | SH |  | SOLE |  | 3163 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 8765564 | 50525 | SH |  | SOLE |  | 50525 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 29076506 | 189288 | SH |  | SOLE |  | 189288 | 0 | 0 |
| TRI CONTL CORP | COM | 895436103 |  | 797427 | 24416 | SH |  | SOLE |  | 24416 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 251905 | 5119 | SH |  | SOLE |  | 5119 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 33387933 | 408615 | SH |  | SOLE |  | 408615 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 485541 | 2099 | SH |  | SOLE |  | 2099 | 0 | 0 |
| UNITED STATES ANTIMONY CORP | COM | 911549103 |  | 80466 | 16029 | SH |  | SOLE |  | 16029 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 252185 | 764 | SH |  | SOLE |  | 764 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 24151105 | 49504 | SH |  | SOLE |  | 49504 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 119664469 | 380128 | SH |  | SOLE |  | 380128 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 8572482 | 29538 | SH |  | SOLE |  | 29538 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 211905 | 2395 | SH |  | SOLE |  | 2395 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 27297571 | 43527 | SH |  | SOLE |  | 43527 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 13122177 | 61958 | SH |  | SOLE |  | 61958 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1523190 | 4543 | SH |  | SOLE |  | 4543 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 54185484 | 283710 | SH |  | SOLE |  | 283710 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 14198187 | 193015 | SH |  | SOLE |  | 193015 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 564493 | 7080 | SH |  | SOLE |  | 7080 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 62180117 | 510720 | SH |  | SOLE |  | 510720 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 69845602 | 317797 | SH |  | SOLE |  | 317797 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 239458 | 3833 | SH |  | SOLE |  | 3833 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 45776499 | 318956 | SH |  | SOLE |  | 318956 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 395797 | 1375 | SH |  | SOLE |  | 1375 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 844725 | 1121 | SH |  | SOLE |  | 1121 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 515833 | 12664 | SH |  | SOLE |  | 12664 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 35570292 | 101424 | SH |  | SOLE |  | 101424 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 560838 | 5034 | SH |  | SOLE |  | 5034 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 493249 | 2245 | SH |  | SOLE |  | 2245 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 366394 | 1974 | SH |  | SOLE |  | 1974 | 0 | 0 |

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