# EDGAR Filing Document

**Accession Number:** 0001551969
**File Stem:** 0001551969-25-000002
**Filing Date:** 2025-10
**Character Count:** 29006
**Document Hash:** ac31db44c4a92ab754279a7a8b3a8840
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001551969-25-000002.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0001551969-25-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**EFFECTIVENESS DATE**: 20251015

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gilman Hill Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001551969

**ORGANIZATION NAME:**
- **EIN:** 208806725
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1211

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14994
- **FILM NUMBER:** 251393484

**BUSINESS ADDRESS:**
- **STREET 1:** 220 ELM STREET
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840
- **BUSINESS PHONE:** 203-571-0225

**MAIL ADDRESS:**
- **STREET 1:** 220 ELM STREET
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840

### 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:** Gilman Hill Asset Management LLC<br>**Address:** 220 ELM STREET<br>NEW CANAAN, CT 06840

**Form 13F File Number:** 028-14994

**CRD Number (if applicable):** 000143970

**SEC File Number (if applicable):** 801-67941

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 B. Harrington<br>**Title:** Chief Compliance Officer<br>**Phone:** 203-571-0225

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

/s/  John B. Harrington  New Canaan, CT  10-15-2025<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:** 231

**Form 13F Information Table Value Total:** $638689252

      (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 |
| ABBOTT LABS | COM | 002824100 | BBG001S5N9M6 | 1340112 | 10005 | SH |  | SOLE |  | 10005 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 3206396 | 13848 | SH |  | SOLE |  | 13848 | 0 | 0 |
| ADOBE INC | COM | 00724F101 | BBG001S5NCQ5 | 266326 | 755 | SH |  | SOLE |  | 755 | 0 | 0 |
| AES CORP | COM | 00130H105 | BBG001S6B1L5 | 251356 | 19100 | SH |  | SOLE |  | 19100 | 0 | 0 |
| AGNC INVT CORP | COM | 00123Q104 | BBG001T074G2 | 243526 | 24875 | SH |  | SOLE |  | 24875 | 0 | 0 |
| AGREE RLTY CORP | COM | 008492100 | BBG001S6RY81 | 773626 | 10890 | SH |  | SOLE |  | 10890 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 | BBG001S5NSB6 | 335991 | 1232 | SH |  | SOLE |  | 1232 | 0 | 0 |
| ALBANY INTL CORP | CL A | 012348108 | BBG001S5VKN1 | 2499601 | 46897 | SH |  | SOLE |  | 46897 | 0 | 0 |
| ALLIANCEBERNSTEIN GLOBAL HIG | COM | 01879R106 | BBG001S6LJ53 | 140125 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 2073643 | 8530 | SH |  | SOLE |  | 8530 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 3518323 | 14446 | SH |  | SOLE |  | 14446 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 | BBG001TBMNT5 | 228784 | 4875 | SH |  | SOLE |  | 4875 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 2320635 | 10569 | SH |  | SOLE |  | 10569 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 | BBG001S5NFD2 | 299250 | 2660 | SH |  | SOLE |  | 2660 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG001S5P034 | 5514410 | 16602 | SH |  | SOLE |  | 16602 | 0 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 | BBG003NXJNJ4 | 642723 | 19330 | SH |  | SOLE |  | 19330 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 | BBG001S5NPQ6 | 291900 | 1518 | SH |  | SOLE |  | 1518 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 | BBG001SPHYW3 | 439840 | 3160 | SH |  | SOLE |  | 3160 | 0 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 | BBG001SK6096 | 272644 | 555 | SH |  | SOLE |  | 555 | 0 | 0 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 237453 | 841 | SH |  | SOLE |  | 841 | 0 | 0 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 | BBG001S8J4S0 | 303150 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 | BBG00ZNLTFL2 | 256545 | 1925 | SH |  | SOLE |  | 1925 | 0 | 0 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 5891178 | 23136 | SH |  | SOLE |  | 23136 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 | BBG001S5NMM7 | 215796 | 1054 | SH |  | SOLE |  | 1054 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 | BBG01R914M77 | 6659374 | 77237 | SH |  | SOLE |  | 77237 | 0 | 0 |
| ARCH CAP GROUP LTD | ORD | G0450A105 | BBG001S9HZ74 | 680475 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| ARDAGH METAL PACKAGING S A | SHS | L02235106 | BBG00ZF0FGV9 | 8037855 | 2014500 | SH |  | SOLE |  | 2014500 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 | BBG001SCG0R3 | 235246 | 243 | SH |  | SOLE |  | 243 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 | BBG001SB80N8 | 242282 | 3158 | SH |  | SOLE |  | 3158 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 245123 | 8680 | SH |  | SOLE |  | 8680 | 0 | 0 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 | BBG001S7GJV8 | 519045 | 14708 | SH |  | SOLE |  | 14708 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 | BBG001S82KF6 | 453164 | 1544 | SH |  | SOLE |  | 1544 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 1602251 | 31057 | SH |  | SOLE |  | 31057 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 974310 | 1938 | SH |  | SOLE |  | 1938 | 0 | 0 |
| BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | BBG001SFNB21 | 140403 | 14125 | SH |  | SOLE |  | 14125 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 | BBG01PSW2WR0 | 250662 | 215 | SH |  | SOLE |  | 215 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 1091607 | 6389 | SH |  | SOLE |  | 6389 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 | BBG001S8N8J6 | 10767426 | 238746 | SH |  | SOLE |  | 238746 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 1376055 | 4171 | SH |  | SOLE |  | 4171 | 0 | 0 |
| BXP INC | COM | 101121101 | BBG001S9TWV1 | 951106 | 12794 | SH |  | SOLE |  | 12794 | 0 | 0 |
| CARMAX INC | COM | 143130102 | BBG001SD9561 | 1689041 | 37643 | SH |  | SOLE |  | 37643 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 | BBG00RP5HZM1 | 3343147 | 55999 | SH |  | SOLE |  | 55999 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 577352 | 1210 | SH |  | SOLE |  | 1210 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 447235 | 2880 | SH |  | SOLE |  | 2880 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 | BBG001S6HC62 | 6666742 | 97438 | SH |  | SOLE |  | 97438 | 0 | 0 |
| CLEARWAY ENERGY INC | CL A | 18539C105 | BBG004P33PP1 | 9940771 | 369134 | SH |  | SOLE |  | 369134 | 0 | 0 |
| CLEARWAY ENERGY INC | CL C | 18539C204 | BBG008LJ4TG2 | 246481 | 8725 | SH |  | SOLE |  | 8725 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 652058 | 9832 | SH |  | SOLE |  | 9832 | 0 | 0 |
| COLUMBIA BKG SYS INC | COM | 197236102 | BBG001S72GJ3 | 8308544 | 322787 | SH |  | SOLE |  | 322787 | 0 | 0 |
| CONAGRA BRANDS INC | COM | 205887102 | BBG001S5PGY5 | 8402807 | 458919 | SH |  | SOLE |  | 458919 | 0 | 0 |
| CORNING INC | COM | 219350105 | BBG001S5RLH1 | 345264 | 4209 | SH |  | SOLE |  | 4209 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 646439 | 698 | SH |  | SOLE |  | 698 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 | BBG001S7W5T3 | 4117724 | 42675 | SH |  | SOLE |  | 42675 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 | BBG001S5QGT0 | 633278 | 3194 | SH |  | SOLE |  | 3194 | 0 | 0 |
| DEERE  CO | COM | 244199105 | BBG001S5QFF7 | 1011002 | 2211 | SH |  | SOLE |  | 2211 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 | BBG001S63VG4 | 8318718 | 237271 | SH |  | SOLE |  | 237271 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 | BBG001SM0K30 | 1004087 | 5808 | SH |  | SOLE |  | 5808 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 5833676 | 50949 | SH |  | SOLE |  | 50949 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 | BBG001T535D5 | 6186187 | 85812 | SH |  | SOLE |  | 85812 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 10344315 | 169108 | SH |  | SOLE |  | 169108 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 | BBG001S5QNR7 | 327319 | 2645 | SH |  | SOLE |  | 2645 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 | BBG001S5QZ45 | 1326342 | 3544 | SH |  | SOLE |  | 3544 | 0 | 0 |
| ECOLAB INC | COM | 278865100 | BBG001S5QRB5 | 309462 | 1130 | SH |  | SOLE |  | 1130 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 1235297 | 1619 | SH |  | SOLE |  | 1619 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 | BBG001S6Q6D7 | 7014742 | 139016 | SH |  | SOLE |  | 139016 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 | BBG001SDHNW4 | 6425900 | 374470 | SH |  | SOLE |  | 374470 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 | BBG001S9P0Z1 | 6422645 | 205393 | SH |  | SOLE |  | 205393 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 | BBG001S723L9 | 215227 | 3325 | SH |  | SOLE |  | 3325 | 0 | 0 |
| ETHAN ALLEN INTERIORS INC | COM | 297602104 | BBG001S67JZ6 | 6529784 | 221649 | SH |  | SOLE |  | 221649 | 0 | 0 |
| EVEREST GROUP LTD | COM | G3223R108 | BBG001S7QT63 | 2638519 | 7534 | SH |  | SOLE |  | 7534 | 0 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 | BBG001SLSXK5 | 226913 | 1610 | SH |  | SOLE |  | 1610 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 2044834 | 18136 | SH |  | SOLE |  | 18136 | 0 | 0 |
| FEDERATED HERMES INC | CL B | 314211103 | BBG001S6TGK4 | 285303 | 5494 | SH |  | SOLE |  | 5494 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ CYB ETF | 33734X846 | BBG009K1H2W7 | 374729 | 4930 | SH |  | SOLE |  | 4930 | 0 | 0 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 6157826 | 47761 | SH |  | SOLE |  | 47761 | 0 | 0 |
| FLEX LNG LTD | SHS | G35947202 | BBG001SSXL39 | 9611960 | 381427 | SH |  | SOLE |  | 381427 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 | BBG001S5R3F3 | 5816488 | 148304 | SH |  | SOLE |  | 148304 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 | BBG001S5PVD5 | 358186 | 1191 | SH |  | SOLE |  | 1191 | 0 | 0 |
| GLADSTONE LD CORP | COM | 376549101 | BBG001TB7TR1 | 183200 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| GLOBAL PARTNERS LP | COM UNITS | 37946R109 | BBG001SH3WJ5 | 2092416 | 43592 | SH |  | SOLE |  | 43592 | 0 | 0 |
| GOLDMAN SACHS BDC INC | SHS | 38147U107 | BBG004DDDL70 | 101700 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 636012 | 799 | SH |  | SOLE |  | 799 | 0 | 0 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 | BBG008748J97 | 248124 | 2764 | SH |  | SOLE |  | 2764 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 | BBG001SD6SM6 | 5321973 | 123308 | SH |  | SOLE |  | 123308 | 0 | 0 |
| GXO LOGISTICS INCORPORATED | COMMON STOCK | 36262G101 | BBG00YDGX9Z1 | 5336601 | 100900 | SH |  | SOLE |  | 100900 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 | BBG001SDPHZ5 | 11044397 | 584051 | SH |  | SOLE |  | 584051 | 0 | 0 |
| HESS MIDSTREAM LP | CL A SHS | 428103105 | BBG00R02H8F3 | 686163 | 19860 | SH |  | SOLE |  | 19860 | 0 | 0 |
| HIGH INCOME SECS FD | SHS BEN INT | 42968F108 | BBG001S5V1Z0 | 127000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 1094754 | 2702 | SH |  | SOLE |  | 2702 | 0 | 0 |
| HONDA MOTOR LTD | ADR ECH CNV IN 3 | 438128308 | BBG001S5RXR4 | 5623395 | 182578 | SH |  | SOLE |  | 182578 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 | BBG001S5RY83 | 629995 | 37015 | SH |  | SOLE |  | 37015 | 0 | 0 |
| HUBBELL INC | COM | 443510607 | BBG001S5S1L9 | 430310 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 | BBG001S5S4Y9 | 394834 | 618 | SH |  | SOLE |  | 618 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 1540876 | 5461 | SH |  | SOLE |  | 5461 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 | BBG00KJR2NN7 | 828420 | 4367 | SH |  | SOLE |  | 4367 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 | BBG001S8MLN3 | 357480 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 | BBG001S80936 | 241150 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 349141 | 5350 | SH |  | SOLE |  | 5350 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 | BBG001SFC7W9 | 603062 | 5075 | SH |  | SOLE |  | 5075 | 0 | 0 |
| ISHARES TR | EAFE VALUE ETF | 464288877 | BBG001SNYBH6 | 468298 | 6904 | SH |  | SOLE |  | 6904 | 0 | 0 |
| ISHARES TR | MORNINGSTAR GRWT | 464287119 | BBG001SBRHJ5 | 360878 | 3460 | SH |  | SOLE |  | 3460 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 | BBG001SG09V7 | 509894 | 5461 | SH |  | SOLE |  | 5461 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 | BBG001S56320 | 201416 | 430 | SH |  | SOLE |  | 430 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 | BBG001SJCNS1 | 2868404 | 29709 | SH |  | SOLE |  | 29709 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 | BBG001SDJVG2 | 299831 | 2110 | SH |  | SOLE |  | 2110 | 0 | 0 |
| ISHARES TR | U.S. BAS MTL ETF | 464287838 | BBG001SFGY10 | 222315 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | INTL BD OPP ETF | 46641Q852 | BBG00GD9GQY8 | 392240 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| JETBLUE AWYS CORP | COM | 477143101 | BBG001S9YPC1 | 1320528 | 268400 | SH |  | SOLE |  | 268400 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 2831326 | 15270 | SH |  | SOLE |  | 15270 | 0 | 0 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 | BBG001S5WZ84 | 238042 | 2165 | SH |  | SOLE |  | 2165 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 | BBG001S8CRC3 | 2031957 | 6442 | SH |  | SOLE |  | 6442 | 0 | 0 |
| KB FINL GROUP INC | SPONSORED ADR | 48241A105 | BBG001T309X3 | 5636471 | 67983 | SH |  | SOLE |  | 67983 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 | BBG001S5SLZ0 | 9921111 | 79790 | SH |  | SOLE |  | 79790 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 | BBG001TG2YZ5 | 5988520 | 211534 | SH |  | SOLE |  | 211534 | 0 | 0 |
| KINETIK HOLDINGS INC | COM NEW CL A | 02215L209 | BBG00GCLZ7C7 | 10583182 | 247618 | SH |  | SOLE |  | 247618 | 0 | 0 |
| KKR INCOME OPPORTUNITIES FD | COM | 48249T106 | BBG004NRD5Z2 | 166761 | 13235 | SH |  | SOLE |  | 13235 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 | BBG001S5SLM4 | 269650 | 250 | SH |  | SOLE |  | 250 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 | BBG01MMT6PQ2 | 524746 | 1828 | SH |  | SOLE |  | 1828 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 | BBG001S8KJC2 | 10039080 | 82005 | SH |  | SOLE |  | 82005 | 0 | 0 |
| LAZARD INC | COM | 52110M109 | BBG001S711C4 | 743670 | 14090 | SH |  | SOLE |  | 14090 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG001S7PS57 | 575090 | 1152 | SH |  | SOLE |  | 1152 | 0 | 0 |
| LOWES COS INC | COM | 548661107 | BBG001S5SVL3 | 586166 | 2332 | SH |  | SOLE |  | 2332 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | BBG001T8LMY9 | 8227451 | 167770 | SH |  | SOLE |  | 167770 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 | BBG001S78K44 | 4951903 | 19014 | SH |  | SOLE |  | 19014 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 | BBG001S7QC51 | 425439 | 675 | SH |  | SOLE |  | 675 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG001SKNNS6 | 342424 | 602 | SH |  | SOLE |  | 602 | 0 | 0 |
| MATERION CORP | COM | 576690101 | BBG001S5PFQ6 | 4216595 | 34903 | SH |  | SOLE |  | 34903 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 | BBG001S5T110 | 435566 | 1433 | SH |  | SOLE |  | 1433 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 | BBG001S8F8P8 | 441120 | 571 | SH |  | SOLE |  | 571 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG001S5T2S9 | 4114697 | 43203 | SH |  | SOLE |  | 43203 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 868869 | 10352 | SH |  | SOLE |  | 10352 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 6958325 | 9475 | SH |  | SOLE |  | 9475 | 0 | 0 |
| MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | BBG001S5T4V1 | 46800 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 7372961 | 14235 | SH |  | SOLE |  | 14235 | 0 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 | BBG001S7HZ69 | 703121 | 5032 | SH |  | SOLE |  | 5032 | 0 | 0 |
| MILLROSE PPTYS INC | COM CL A | 601137102 | BBG01RQYH427 | 7914305 | 235475 | SH |  | SOLE |  | 235475 | 0 | 0 |
| MPLX LP | COM UNIT REP LTD | 55336V100 | BBG0035TJHL3 | 7009048 | 140321 | SH |  | SOLE |  | 140321 | 0 | 0 |
| NATIONAL GRID PLC | SPONSORED ADR NE | 636274409 | BBG001SD9VH2 | 4713958 | 64868 | SH |  | SOLE |  | 64868 | 0 | 0 |
| NATIONAL STORAGE AFFILIATES | COM SHS BEN IN | 637870106 | BBG008417VP2 | 386417 | 12787 | SH |  | SOLE |  | 12787 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 | BBG001SF6L46 | 565890 | 472 | SH |  | SOLE |  | 472 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 | BBG001S5RB29 | 8982981 | 118996 | SH |  | SOLE |  | 118996 | 0 | 0 |
| NIKE INC | CL B | 654106103 | BBG001S6NTK2 | 244055 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 | BBG001S5TP26 | 3775054 | 6196 | SH |  | SOLE |  | 6196 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 | BBG001SDD8F0 | 263169 | 1625 | SH |  | SOLE |  | 1625 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 5094302 | 27304 | SH |  | SOLE |  | 27304 | 0 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 | BBG001S6WQT9 | 250588 | 1780 | SH |  | SOLE |  | 1780 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 | BBG001S5TWK1 | 204269 | 2799 | SH |  | SOLE |  | 2799 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 504826 | 1795 | SH |  | SOLE |  | 1795 | 0 | 0 |
| ORGANON  CO | COMMON STOCK | 68622V106 | BBG00ZQRGW42 | 276986 | 25935 | SH |  | SOLE |  | 25935 | 0 | 0 |
| ORIX CORP | SPONSORED ADR | 686330101 | BBG001S5SFJ1 | 5144166 | 196944 | SH |  | SOLE |  | 196944 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 | BBG001T9NWN5 | 256561 | 1260 | SH |  | SOLE |  | 1260 | 0 | 0 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 555122 | 3953 | SH |  | SOLE |  | 3953 | 0 | 0 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 10451600 | 410188 | SH |  | SOLE |  | 410188 | 0 | 0 |
| PIMCO ETF TR | 0-5 HIGH YIELD | 72201R783 | BBG001V1XW67 | 478400 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| PLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 726503105 | BBG001S985K5 | 2172165 | 127325 | SH |  | SOLE |  | 127325 | 0 | 0 |
| PLAINS GP HLDGS L P | LTD PARTNR INT A | 72651A207 | BBG001SZV282 | 5480036 | 300441 | SH |  | SOLE |  | 300441 | 0 | 0 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 | BBG00NSBGG83 | 9348981 | 595856 | SH |  | SOLE |  | 595856 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 1367136 | 8898 | SH |  | SOLE |  | 8898 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 | BBG001S5V509 | 377834 | 1530 | SH |  | SOLE |  | 1530 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 | BBG001S5NMN6 | 918221 | 8018 | SH |  | SOLE |  | 8018 | 0 | 0 |
| PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 | BBG001S5VCG7 | 129150 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 | BBG001S884K0 | 11638626 | 191456 | SH |  | SOLE |  | 191456 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 | BBG001S6PX49 | 3104332 | 5521 | SH |  | SOLE |  | 5521 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 | BBG001SB0LX9 | 4667033 | 70702 | SH |  | SOLE |  | 70702 | 0 | 0 |
| RITHM CAPITAL CORP | COM NEW | 64828T201 | BBG003T1GM12 | 187935 | 16500 | SH |  | SOLE |  | 16500 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 306716 | 1833 | SH |  | SOLE |  | 1833 | 0 | 0 |
| RYMAN HOSPITALITY PPTYS INC | COM | 78377T107 | BBG001S6SHG8 | 9872182 | 110193 | SH |  | SOLE |  | 110193 | 0 | 0 |
| SABA CAPITAL INCOME  OPPORT | COM NEW | 880198205 | BBG001S5RKQ3 | 136800 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| SABRA HEALTH CARE REIT INC | COM | 78573L106 | BBG001SGNMK5 | 11281548 | 605233 | SH |  | SOLE |  | 605233 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 | BBG001S5VXD4 | 6807875 | 71309 | SH |  | SOLE |  | 71309 | 0 | 0 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 | BBG001S7T232 | 445725 | 2890 | SH |  | SOLE |  | 2890 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | BBG001S7SCQ6 | 260944 | 1875 | SH |  | SOLE |  | 1875 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 | BBG001S7R733 | 215088 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| SEMPRA | COM | 816851109 | BBG001SBVZ73 | 597287 | 6638 | SH |  | SOLE |  | 6638 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 4276993 | 59793 | SH |  | SOLE |  | 59793 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 968614 | 5161 | SH |  | SOLE |  | 5161 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 | BBG001V064L4 | 10842987 | 474321 | SH |  | SOLE |  | 474321 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 | BBG001S5W777 | 282794 | 2984 | SH |  | SOLE |  | 2984 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 288642 | 812 | SH |  | SOLE |  | 812 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 | BBG001SRXRD7 | 573423 | 12250 | SH |  | SOLE |  | 12250 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 1713326 | 2572 | SH |  | SOLE |  | 2572 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 | BBG001S63NQ1 | 2710744 | 4548 | SH |  | SOLE |  | 4548 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 | BBG001S5WHT1 | 11159059 | 150129 | SH |  | SOLE |  | 150129 | 0 | 0 |
| STRATEGY INC | CL A NEW | 594972408 | BBG001SC7PX1 | 1603961 | 4978 | SH |  | SOLE |  | 4978 | 0 | 0 |
| SUMITOMO MITSUI FINL GROUP I | SPONSORED ADR | 86562M209 | BBG001SLH608 | 3724050 | 222464 | SH |  | SOLE |  | 222464 | 0 | 0 |
| SUNOCO LP/SUNOCO FIN CORP | COM UT REP LP | 86765K109 | BBG00358K8T9 | 1881826 | 37629 | SH |  | SOLE |  | 37629 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 | BBG001S5VTR8 | 486976 | 987 | SH |  | SOLE |  | 987 | 0 | 0 |
| SYSCO CORP | COM | 871829107 | BBG001S5WJS8 | 5530025 | 67161 | SH |  | SOLE |  | 67161 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | BBG001S5WWW4 | 532047 | 1905 | SH |  | SOLE |  | 1905 | 0 | 0 |
| TARGA RES CORP | COM | 87612G101 | BBG001TC94B9 | 312127 | 1863 | SH |  | SOLE |  | 1863 | 0 | 0 |
| TERADYNE INC | COM | 880770102 | BBG001S5WMZ3 | 3604573 | 26188 | SH |  | SOLE |  | 26188 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 | BBG00KXRCDQ9 | 239536 | 831 | SH |  | SOLE |  | 831 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 | BBG001S5WS08 | 3446582 | 7106 | SH |  | SOLE |  | 7106 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 | BBG001S6WYD9 | 4730970 | 79259 | SH |  | SOLE |  | 79259 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 | BBG001S5SBV6 | 842232 | 1996 | SH |  | SOLE |  | 1996 | 0 | 0 |
| TRIPADVISOR INC | COM | 896945201 | BBG001V10VR2 | 5292142 | 325470 | SH |  | SOLE |  | 325470 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MW4 | 7084701 | 72315 | SH |  | SOLE |  | 72315 | 0 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 | BBG001S5X1K4 | 4423271 | 74617 | SH |  | SOLE |  | 74617 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 653327 | 2764 | SH |  | SOLE |  | 2764 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 | BBG001SDGSH1 | 7593114 | 90903 | SH |  | SOLE |  | 90903 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 | BBG001SBGZ25 | 4548327 | 4764 | SH |  | SOLE |  | 4764 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 | BBG001SR42Z0 | 210100 | 2750 | SH |  | SOLE |  | 2750 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 | BBG001SK7DK4 | 249660 | 3357 | SH |  | SOLE |  | 3357 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 | BBG001SHTTS4 | 320859 | 669 | SH |  | SOLE |  | 669 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 | BBG001SRN7S6 | 219461 | 747 | SH |  | SOLE |  | 747 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 | BBG001SRN7W1 | 3706857 | 21233 | SH |  | SOLE |  | 21233 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 | BBG001SHVTS1 | 6764245 | 23028 | SH |  | SOLE |  | 23028 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 464184 | 758 | SH |  | SOLE |  | 758 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 | BBG001SHVTR2 | 275080 | 1318 | SH |  | SOLE |  | 1318 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 8424042 | 33129 | SH |  | SOLE |  | 33129 | 0 | 0 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 | BBG001SHTTW9 | 203572 | 684 | SH |  | SOLE |  | 684 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 | BBG001SP7T00 | 2420870 | 33920 | SH |  | SOLE |  | 33920 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 1756850 | 32426 | SH |  | SOLE |  | 32426 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 446685 | 2070 | SH |  | SOLE |  | 2070 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 | BBG001SHTTR5 | 792921 | 1062 | SH |  | SOLE |  | 1062 | 0 | 0 |
| VENTAS INC | COM | 92276F100 | BBG001S9T7M6 | 6988821 | 99855 | SH |  | SOLE |  | 99855 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 11905173 | 270880 | SH |  | SOLE |  | 270880 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 | BBG00HVVB4B6 | 8905361 | 273087 | SH |  | SOLE |  | 273087 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 510363 | 1495 | SH |  | SOLE |  | 1495 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 | BBG00DXDL6R0 | 284084 | 1450 | SH |  | SOLE |  | 1450 | 0 | 0 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 1373167 | 13324 | SH |  | SOLE |  | 13324 | 0 | 0 |
| WESTERN ASSET HIGH YIELD OPP | COM | 95768B107 | BBG001T9DBJ7 | 215171 | 18375 | SH |  | SOLE |  | 18375 | 0 | 0 |
| WESTERN ASSET INVESTMENT GRA | COM | 95766T100 | BBG001S5V055 | 192300 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| WESTERN UN CO | COM | 959802109 | BBG001SR0YK0 | 6171910 | 772454 | SH |  | SOLE |  | 772454 | 0 | 0 |
| WESTLAKE CHEM PARTNERS LP | COM UNIT RP LP | 960417103 | BBG006F8Q8C3 | 1625508 | 77442 | SH |  | SOLE |  | 77442 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 | BBG001S5XFS5 | 6381393 | 81188 | SH |  | SOLE |  | 81188 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 | BBG001S5XH10 | 5681773 | 89689 | SH |  | SOLE |  | 89689 | 0 | 0 |
| WPP PLC NEW | ADR | 92937A102 | BBG001S5XJ89 | 2245560 | 89643 | SH |  | SOLE |  | 89643 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 | BBG001S7F0X8 | 221788 | 2750 | SH |  | SOLE |  | 2750 | 0 | 0 |
| XPO INC | COM | 983793100 | BBG001SJW3C0 | 5314290 | 41110 | SH |  | SOLE |  | 41110 | 0 | 0 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 | BBG001S7DQJ9 | 3101613 | 31488 | SH |  | SOLE |  | 31488 | 0 | 0 |

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