# EDGAR Filing Document

**Accession Number:** 0001434323
**File Stem:** 0001434323-26-000001
**Filing Date:** 2026-2
**Character Count:** 22551
**Document Hash:** aefc76e714a9cb01b573d9f8b8ae4281
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001434323-26-000001.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001434323-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**EFFECTIVENESS DATE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Palisade Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001434323

**ORGANIZATION NAME:**
- **EIN:** 270125285
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13058
- **FILM NUMBER:** 26630611

**BUSINESS ADDRESS:**
- **STREET 1:** 100 SOUTH FIFTH STREET, SUITE 420
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 612-455-2900

**MAIL ADDRESS:**
- **STREET 1:** 100 SOUTH FIFTH STREET, SUITE 420
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

### 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:** Palisade Asset Management LLC<br>**Address:** 100 SOUTH FIFTH STREET SUITE 420<br>MINNEAPOLIS, MN 55402

**Form 13F File Number:** 028-13058

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:** Jennifer McCord<br>**Title:** Chief Compliance Officer<br>**Phone:** 6124552900

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

Jennifer McCord  Minneapolis, MN  02-13-2026<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:** 194

**Form 13F Information Table Value Total:** $1025779933

      (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 |  | 25556529 | 203979 | SH |  | SOLE |  | 157568 | 0 | 46411 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 12292701 | 45817 | SH |  | SOLE |  | 36466 | 0 | 9351 |
| Amgen Inc | COM | 031162100 |  | 24203265 | 73946 | SH |  | SOLE |  | 59356 | 0 | 14590 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 6507678 | 37066 | SH |  | SOLE |  | 30686 | 0 | 6380 |
| BALL CORP | COM | 058498106 |  | 7771652 | 146718 | SH |  | SOLE |  | 106443 | 0 | 40275 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 8016644 | 41308 | SH |  | SOLE |  | 34620 | 0 | 6688 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 9323807 | 117993 | SH |  | SOLE |  | 87582 | 0 | 30411 |
| CISCO SYS INC | COM | 17275R102 |  | 27499479 | 356997 | SH |  | SOLE |  | 294673 | 0 | 62324 |
| CHEVRON CORP NEW | COM | 166764100 |  | 14446182 | 94785 | SH |  | SOLE |  | 73604 | 0 | 21181 |
| Deere  Co | COM | 244199105 |  | 17265198 | 37084 | SH |  | SOLE |  | 27285 | 0 | 9799 |
| Ecolab Inc | COM | 278865100 |  | 20175712 | 76854 | SH |  | SOLE |  | 62587 | 0 | 14267 |
| General Dynamics Corp | COM | 369550108 |  | 14626530 | 43446 | SH |  | SOLE |  | 32715 | 0 | 10731 |
| HOME DEPOT INC | COM | 437076102 |  | 23455577 | 68165 | SH |  | SOLE |  | 57315 | 0 | 10850 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 29643809 | 100077 | SH |  | SOLE |  | 79412 | 0 | 20665 |
| Johnson  Johnson | COM | 478160104 |  | 21359516 | 103211 | SH |  | SOLE |  | 81172 | 0 | 22039 |
| JPMorgan Chase  Co | COM | 46625H100 |  | 24307310 | 75437 | SH |  | SOLE |  | 58150 | 0 | 17287 |
| MCDONALDS CORP | COM | 580135101 |  | 15725971 | 51454 | SH |  | SOLE |  | 40074 | 0 | 11380 |
| 3M Co | COM | 88579Y101 |  | 14815143 | 92537 | SH |  | SOLE |  | 75786 | 0 | 16751 |
| Microsoft Corp | COM | 594918104 |  | 61994281 | 128188 | SH |  | SOLE |  | 108322 | 0 | 19866 |
| Oracle Corp | COM | 68389X105 |  | 34073387 | 174816 | SH |  | SOLE |  | 137872 | 0 | 36944 |
| PepsiCo Inc | COM | 713448108 |  | 16432035 | 114493 | SH |  | SOLE |  | 91630 | 0 | 22863 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 15733288 | 109785 | SH |  | SOLE |  | 88729 | 0 | 21056 |
| Target Corp | COM | 87612E106 |  | 14838841 | 151804 | SH |  | SOLE |  | 109570 | 0 | 42234 |
| UnitedHealth Group Inc | COM | 91324P102 |  | 26426296 | 80053 | SH |  | SOLE |  | 67734 | 0 | 12319 |
| US BANCORP DEL | COM | 902973304 |  | 14007860 | 262516 | SH |  | SOLE |  | 206607 | 0 | 55909 |
| VISA INC | COM CL A | 92826C839 |  | 15286747 | 43588 | SH |  | SOLE |  | 35310 | 0 | 8278 |
| Apple Inc | COM | 037833100 |  | 54438519 | 200245 | SH |  | SOLE |  | 163060 | 0 | 37185 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 15944916 | 61987 | SH |  | SOLE |  | 50515 | 0 | 11472 |
| BLACKROCK INC | COM | 09290D101 |  | 13373898 | 12495 | SH |  | SOLE |  | 9878 | 0 | 2617 |
| HERSHEY CO | COM | 427866108 |  | 8679885 | 47697 | SH |  | SOLE |  | 38874 | 0 | 8823 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 14660005 | 49937 | SH |  | SOLE |  | 37152 | 0 | 12785 |
| ROYAL BK CDA | COM | 780087102 |  | 14450050 | 84756 | SH |  | SOLE |  | 64716 | 0 | 20040 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 365553 | 2590 | SH |  | SOLE |  | 1065 | 0 | 1525 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 1320072 | 9486 | SH |  | SOLE |  | 8918 | 0 | 568 |
| AMCOR PLC | ORD | G0250X107 |  | 490767 | 58845 | SH |  | SOLE |  | 45585 | 0 | 13260 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 1340590 | 2734 | SH |  | SOLE |  | 1734 | 0 | 1000 |
| Caterpillar Inc | COM | 149123101 |  | 4916943 | 8583 | SH |  | SOLE |  | 6857 | 0 | 1726 |
| C H ROBINSON WORLDWIDE INC | COM | 12541W209 |  | 385824 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| DONALDSON INC | COM | 257651109 |  | 7567486 | 85354 | SH |  | SOLE |  | 69125 | 0 | 16229 |
| Fastenal Co | COM | 311900104 |  | 4367589 | 108836 | SH |  | SOLE |  | 92496 | 0 | 16340 |
| GENERAL MLS INC | COM | 370334104 |  | 3040077 | 65378 | SH |  | SOLE |  | 57482 | 0 | 7896 |
| Intel Corp | COM | 458140100 |  | 3729815 | 101079 | SH |  | SOLE |  | 90725 | 0 | 10354 |
| COCA COLA CO | COM | 191216100 |  | 2861546 | 40932 | SH |  | SOLE |  | 32024 | 0 | 8908 |
| Ross Stores Inc | COM | 778296103 |  | 3509487 | 19482 | SH |  | SOLE |  | 17482 | 0 | 2000 |
| Southern Co | COM | 842587107 |  | 3654290 | 41907 | SH |  | SOLE |  | 24020 | 0 | 17887 |
| STRYKER CORPORATION | COM | 863667101 |  | 13190318 | 37529 | SH |  | SOLE |  | 34645 | 0 | 2884 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 8496310 | 29292 | SH |  | SOLE |  | 26522 | 0 | 2770 |
| TEXAS INSTRS INC | COM | 882508104 |  | 11946174 | 68858 | SH |  | SOLE |  | 55954 | 0 | 12904 |
| Xcel Energy Inc | COM | 98389B100 |  | 6100097 | 82590 | SH |  | SOLE |  | 61532 | 0 | 21058 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 853061 | 15815 | SH |  | SOLE |  | 14090 | 0 | 1725 |
| LILLY ELI  CO | COM | 532457108 |  | 15826812 | 14727 | SH |  | SOLE |  | 14117 | 0 | 610 |
| Tractor Supply Co | COM | 892356106 |  | 9486297 | 189688 | SH |  | SOLE |  | 161843 | 0 | 27845 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 26528325 | 38902 | SH |  | SOLE |  | 37907 | 0 | 996 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 272578 | 3680 | SH |  | SOLE |  | 2886 | 0 | 794 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 4575342 | 51144 | SH |  | SOLE |  | 42006 | 0 | 9138 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 1002116 | 14908 | SH |  | SOLE |  | 11129 | 0 | 3779 |
| ISHARES TR | S MC 400GR ETF | 464287606 |  | 606178 | 6257 | SH |  | SOLE |  | 5773 | 0 | 484 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 6010711 | 9584 | SH |  | SOLE |  | 6959 | 0 | 2625 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 5169648 | 78328 | SH |  | SOLE |  | 65362 | 0 | 12966 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 4793860 | 39889 | SH |  | SOLE |  | 35377 | 0 | 4512 |
| Aflac Inc | COM | 001055102 |  | 7680747 | 69654 | SH |  | SOLE |  | 48482 | 0 | 21172 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 6304879 | 10451 | SH |  | SOLE |  | 10041 | 0 | 410 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 12372531 | 67462 | SH |  | SOLE |  | 50764 | 0 | 16698 |
| Sysco Corp | COM | 871829107 |  | 1398489 | 18978 | SH |  | SOLE |  | 17292 | 0 | 1686 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 8126906 | 33015 | SH |  | SOLE |  | 32230 | 0 | 785 |
| Kimberly-Clark Corp | COM | 494368103 |  | 2400678 | 23795 | SH |  | SOLE |  | 21915 | 0 | 1880 |
| TJX COS INC NEW | COM | 872540109 |  | 15747636 | 102517 | SH |  | SOLE |  | 88892 | 0 | 13625 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 1588780 | 17047 | SH |  | SOLE |  | 16117 | 0 | 930 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 354982 | 860 | SH |  | SOLE |  | 860 | 0 | 0 |
| AbbVie Inc | COM | 00287Y109 |  | 14541789 | 63643 | SH |  | SOLE |  | 46592 | 0 | 17051 |
| APA CORPORATION | COM | 03743Q108 |  | 809186 | 33082 | SH |  | SOLE |  | 0 | 0 | 33082 |
| Medtronic PLC | SHS | G5960L103 |  | 5459880 | 56838 | SH |  | SOLE |  | 42778 | 0 | 14060 |
| UNION PAC CORP | COM | 907818108 |  | 1549381 | 6698 | SH |  | SOLE |  | 3911 | 0 | 2787 |
| EMERSON ELEC CO | COM | 291011104 |  | 4282344 | 32266 | SH |  | SOLE |  | 27600 | 0 | 4666 |
| Genuine Parts Co | COM | 372460105 |  | 2287794 | 18606 | SH |  | SOLE |  | 17326 | 0 | 1280 |
| Merck  Co Inc | COM | 58933Y105 |  | 3713994 | 35284 | SH |  | SOLE |  | 32929 | 0 | 2355 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 633234 | 6210 | SH |  | SOLE |  | 5095 | 0 | 1115 |
| Pentair PLC | SHS | G7S00T104 |  | 1373815 | 13192 | SH |  | SOLE |  | 12277 | 0 | 915 |
| SHELL PLC | SPON ADS | 780259305 |  | 246158 | 3350 | SH |  | SOLE |  | 3350 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 6454093 | 57931 | SH |  | SOLE |  | 45613 | 0 | 12318 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 1175873 | 26300 | SH |  | SOLE |  | 17500 | 0 | 8800 |
| Exxon Mobil Corp | COM | 30231G102 |  | 7032614 | 58440 | SH |  | SOLE |  | 42790 | 0 | 15650 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 234299 | 219 | SH |  | SOLE |  | 219 | 0 | 0 |
| SPDR DOW JONES INDL AVRG ETF | UT SER 1 | 78467X109 |  | 485856 | 1011 | SH |  | SOLE |  | 1011 | 0 | 0 |
| FedEx Corp | COM | 31428X106 |  | 3171105 | 10978 | SH |  | SOLE |  | 9983 | 0 | 995 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3250663 | 10359 | SH |  | SOLE |  | 7927 | 0 | 2432 |
| Pfizer Inc | COM | 717081103 |  | 1044829 | 41961 | SH |  | SOLE |  | 35285 | 0 | 6676 |
| AT Inc | COM | 00206R102 |  | 1735794 | 69879 | SH |  | SOLE |  | 64389 | 0 | 5490 |
| Verizon Communications Inc | COM | 92343V104 |  | 1786784 | 43869 | SH |  | SOLE |  | 39584 | 0 | 4285 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1104177 | 20539 | SH |  | SOLE |  | 17914 | 0 | 2625 |
| CLOROX CO DEL | COM | 189054109 |  | 436594 | 4330 | SH |  | SOLE |  | 3125 | 0 | 1205 |
| ConocoPhillips | COM | 20825C104 |  | 1184073 | 12649 | SH |  | SOLE |  | 10496 | 0 | 2153 |
| FEDERATED HERMES INC | CL B | 314211103 |  | 1101801 | 21160 | SH |  | SOLE |  | 20260 | 0 | 900 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 1795412 | 14993 | SH |  | SOLE |  | 12701 | 0 | 2292 |
| AMAZON COM INC | COM | 023135106 |  | 1161486 | 5032 | SH |  | SOLE |  | 4599 | 0 | 433 |
| CVS Health Corp | COM | 126650100 |  | 206495 | 2602 | SH |  | SOLE |  | 1482 | 0 | 1120 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 222935 | 3805 | SH |  | SOLE |  | 3155 | 0 | 650 |
| Hormel Foods Corp | COM | 440452100 |  | 238991 | 10084 | SH |  | SOLE |  | 7034 | 0 | 3050 |
| SMUCKER J M CO | COM NEW | 832696405 |  | 272890 | 2790 | SH |  | SOLE |  | 2590 | 0 | 200 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 248893 | 3141 | SH |  | SOLE |  | 2918 | 0 | 223 |
| TESLA INC | COM | 88160R101 |  | 361125 | 803 | SH |  | SOLE |  | 77 | 0 | 726 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 491451 | 2336 | SH |  | SOLE |  | 2336 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 2543893 | 5375 | SH |  | SOLE |  | 3246 | 0 | 2129 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 3541778 | 36882 | SH |  | SOLE |  | 34025 | 0 | 2857 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1311922 | 22820 | SH |  | SOLE |  | 20420 | 0 | 2400 |
| Graco Inc | COM | 384109104 |  | 4463512 | 54453 | SH |  | SOLE |  | 16697 | 0 | 37756 |
| American Express Co | COM | 025816109 |  | 2402455 | 6494 | SH |  | SOLE |  | 5944 | 0 | 550 |
| DISNEY WALT CO | COM | 254687106 |  | 1080812 | 9500 | SH |  | SOLE |  | 8946 | 0 | 554 |
| HONEYWELL INTL INC | COM | 438516106 |  | 3159678 | 16196 | SH |  | SOLE |  | 14867 | 0 | 1329 |
| ISHARES TR | CORE S ETF | 464287200 |  | 472215 | 689 | SH |  | SOLE |  | 679 | 0 | 10 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 214553 | 1184 | SH |  | SOLE |  | 348 | 0 | 836 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 620848 | 1922 | SH |  | SOLE |  | 825 | 0 | 1097 |
| NextEra Energy Inc | COM | 65339F101 |  | 3334590 | 41537 | SH |  | SOLE |  | 38557 | 0 | 2980 |
| United Parcel Service Inc | CL B | 911312106 |  | 1076112 | 10849 | SH |  | SOLE |  | 10103 | 0 | 746 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 1703415 | 5870 | SH |  | SOLE |  | 5075 | 0 | 795 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 3265366 | 55524 | SH |  | SOLE |  | 53160 | 0 | 2364 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1199339 | 5457 | SH |  | SOLE |  | 5457 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 480977 | 1541 | SH |  | SOLE |  | 381 | 0 | 1160 |
| Church  Dwight Co Inc | COM | 171340102 |  | 588208 | 7015 | SH |  | SOLE |  | 6165 | 0 | 850 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 4136921 | 13217 | SH |  | SOLE |  | 11247 | 0 | 1970 |
| KLA CORP | COM NEW | 482480100 |  | 4281942 | 3524 | SH |  | SOLE |  | 2484 | 0 | 1040 |
| PAYCHEX INC | COM | 704326107 |  | 1523180 | 13578 | SH |  | SOLE |  | 12418 | 0 | 1160 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 5203431 | 38504 | SH |  | SOLE |  | 38504 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1113078 | 3216 | SH |  | SOLE |  | 3216 | 0 | 0 |
| GE VERNOVA LLC | COM | 36828A101 |  | 290185 | 444 | SH |  | SOLE |  | 441 | 0 | 3 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2804401 | 15037 | SH |  | SOLE |  | 14020 | 0 | 1017 |
| Boeing Co | COM | 097023105 |  | 321120 | 1479 | SH |  | SOLE |  | 1294 | 0 | 185 |
| CenterPoint Energy Inc | COM | 15189T107 |  | 1930036 | 50340 | SH |  | SOLE |  | 48485 | 0 | 1855 |
| DANAHER CORPORATION | COM | 235851102 |  | 4691944 | 20496 | SH |  | SOLE |  | 20411 | 0 | 85 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 967466 | 3928 | SH |  | SOLE |  | 3428 | 0 | 500 |
| McCormick  Co Inc | COM NON VTG | 579780206 |  | 2585728 | 37964 | SH |  | SOLE |  | 35904 | 0 | 2060 |
| Phillips 66 | COM | 718546104 |  | 543258 | 4210 | SH |  | SOLE |  | 3598 | 0 | 612 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 632507 | 1952 | SH |  | SOLE |  | 1952 | 0 | 0 |
| ISHARES TR | EAFE GRWTH ETF | 464288885 |  | 875361 | 7684 | SH |  | SOLE |  | 7684 | 0 | 0 |
| EVERUS CONSTR GROUP | COM | 300426103 |  | 347459 | 4061 | SH |  | SOLE |  | 3136 | 0 | 925 |
| MDU RES GROUP INC | COM | 552690109 |  | 341600 | 17500 | SH |  | SOLE |  | 13800 | 0 | 3700 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 495387 | 5616 | SH |  | SOLE |  | 5116 | 0 | 500 |
| General Electric Co | COM NEW | 369604301 |  | 488536 | 1586 | SH |  | SOLE |  | 1574 | 0 | 12 |
| Novartis Ag | SPONSORED ADR | 66987V109 |  | 2262309 | 16409 | SH |  | SOLE |  | 16251 | 0 | 158 |
| VANGUARD TAX-MANAGED FDS | FTSE DEV MKT ETF | 921943858 |  | 1139703 | 18244 | SH |  | SOLE |  | 16044 | 0 | 2200 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 663443 | 2286 | SH |  | SOLE |  | 2286 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 521374 | 5220 | SH |  | SOLE |  | 5220 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 1123888 | 11249 | SH |  | SOLE |  | 11224 | 0 | 25 |
| AMERICAN CENTY ETF TR | INTL SMCP VLU | 025072802 |  | 454815 | 4840 | SH |  | SOLE |  | 4190 | 0 | 650 |
| Berkshire Hathaway Inc Del | CL B NEW | 084670702 |  | 1720068 | 3422 | SH |  | SOLE |  | 3408 | 0 | 14 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 534290 | 7482 | SH |  | SOLE |  | 4578 | 0 | 2904 |
| EATON CORP PLC | SHS | G29183103 |  | 401004 | 1259 | SH |  | SOLE |  | 1259 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 488866 | 3006 | SH |  | SOLE |  | 3006 | 0 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 466908 | 7965 | SH |  | SOLE |  | 4965 | 0 | 3000 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 241143 | 689 | SH |  | SOLE |  | 641 | 0 | 48 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 605363 | 702 | SH |  | SOLE |  | 600 | 0 | 102 |
| Linde PLC | SHS | G54950103 |  | 1397706 | 3278 | SH |  | SOLE |  | 3270 | 0 | 8 |
| Nike Inc | CL B | 654106103 |  | 2099627 | 32956 | SH |  | SOLE |  | 32344 | 0 | 612 |
| LOWES COS INC | COM | 548661107 |  | 1598167 | 6627 | SH |  | SOLE |  | 5527 | 0 | 1100 |
| NORTHERN TR CORP | COM | 665859104 |  | 657271 | 4812 | SH |  | SOLE |  | 3812 | 0 | 1000 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 548862 | 5701 | SH |  | SOLE |  | 4741 | 0 | 960 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 638956 | 1711 | SH |  | SOLE |  | 1711 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 1312287 | 1493 | SH |  | SOLE |  | 1493 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 829751 | 12353 | SH |  | SOLE |  | 12353 | 0 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 202011 | 2550 | SH |  | SOLE |  | 2550 | 0 | 0 |
| METTLER TOLEDO INTERNATIONAL | COM | 592688105 |  | 1812447 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 480755 | 5709 | SH |  | SOLE |  | 5709 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 |  | 1228912 | 5061 | SH |  | SOLE |  | 5061 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 3718480 | 11091 | SH |  | SOLE |  | 8591 | 0 | 2500 |
| Morgan Stanley | COM NEW | 617446448 |  | 4581517 | 25807 | SH |  | SOLE |  | 25807 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 345167 | 3620 | SH |  | SOLE |  | 3620 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 309368 | 9484 | SH |  | SOLE |  | 9484 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 289977 | 1016 | SH |  | SOLE |  | 1016 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 890930 | 8106 | SH |  | SOLE |  | 8051 | 0 | 55 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 368024 | 4317 | SH |  | SOLE |  | 3192 | 0 | 1125 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 629398 | 5106 | SH |  | SOLE |  | 354 | 0 | 4752 |
| META PLATFORMS INC | CL A | 30303M102 |  | 277898 | 421 | SH |  | SOLE |  | 171 | 0 | 250 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 260307 | 9140 | SH |  | SOLE |  | 9140 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 223699 | 6171 | SH |  | SOLE |  | 6171 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 917038 | 15256 | SH |  | SOLE |  | 15256 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 585050 | 1033 | SH |  | SOLE |  | 1033 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 235147 | 1535 | SH |  | SOLE |  | 1535 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US LG | 808524771 |  | 207095 | 7611 | SH |  | SOLE |  | 7611 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 668356 | 3365 | SH |  | SOLE |  | 3365 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 606289 | 25220 | SH |  | SOLE |  | 25220 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 219783 | 1558 | SH |  | SOLE |  | 1558 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 247466 | 1749 | SH |  | SOLE |  | 1749 | 0 | 0 |
| GRAHAM HLDGS CO | COM CL B | 384637104 |  | 525131 | 478 | SH |  | SOLE |  | 478 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 386940 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 223213 | 4513 | SH |  | SOLE |  | 4513 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 927391 | 2704 | SH |  | SOLE |  | 2704 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 314451 | 4531 | SH |  | SOLE |  | 4531 | 0 | 0 |
| VANGUARD STAR FD | VG TL INTL STK F | 921909768 |  | 849527 | 11261 | SH |  | SOLE |  | 11261 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 1572586 | 11244 | SH |  | SOLE |  | 11244 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 232901 | 1452 | SH |  | SOLE |  | 1452 | 0 | 0 |
| McKesson Corp | COM | 58155Q103 |  | 267415 | 326 | SH |  | SOLE |  | 326 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 216360 | 2250 | SH |  | SOLE |  | 2250 | 0 | 0 |
| ISHARES TR | GLOBAL 100 ETF | 464287572 |  | 407877 | 3220 | SH |  | SOLE |  | 3220 | 0 | 0 |

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