# EDGAR Filing Document

**Accession Number:** 0001668189
**File Stem:** 0001765380-25-000271
**Filing Date:** 2025-7
**Character Count:** 27567
**Document Hash:** 09063404160f481745d4544aa9df5e17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001765380-25-000271.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001765380-25-000271

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250730

**EFFECTIVENESS DATE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cornerstone Advisory, LLC
- **CENTRAL INDEX KEY:** 0001668189

**ORGANIZATION NAME:**
- **EIN:** 743193386
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17400
- **FILM NUMBER:** 251166299

**BUSINESS ADDRESS:**
- **STREET 1:** 211 OLD PADONIA ROAD
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21030
- **BUSINESS PHONE:** 410-468-1694

**MAIL ADDRESS:**
- **STREET 1:** 211 OLD PADONIA ROAD
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21030

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cornerstone Advisory, LLP
- **DATE OF NAME CHANGE:** 20160229

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Cornerstone Advisory LLC<br>**Address:** 211 OLD PADONIA ROAD<br>HUNT VALLEY, MD 21030

**Form 13F File Number:** 028-17400

**CRD Number (if applicable):** 000142359

**SEC File Number (if applicable):** 801-68058

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:** Lonny Elfenbein<br>**Title:** Compliance Consultant<br>**Phone:** 5139778330

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

Lonny Elfenbein  Cincinnati, OH  07-30-2025<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:** 241

**Form 13F Information Table Value Total:** $931249231

      (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 |  | 365229 | 2399 | SH |  | SOLE | 0 | 0 | 0 | 2399 |
| ABBOTT LABS | COM | 002824100 |  | 739480 | 5437 | SH |  | SOLE | 0 | 0 | 0 | 5437 |
| ABBVIE INC | COM | 00287Y109 |  | 2892709 | 15584 | SH |  | SOLE | 0 | 0 | 0 | 15584 |
| ADOBE INC | COM | 00724F101 |  | 238705 | 617 | SH |  | SOLE | 0 | 0 | 0 | 617 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 606055 | 4271 | SH |  | SOLE | 0 | 0 | 0 | 4271 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 385012 | 1365 | SH |  | SOLE | 0 | 0 | 0 | 1365 |
| ALLSTATE CORP | COM | 020002101 |  | 269145 | 1337 | SH |  | SOLE | 0 | 0 | 0 | 1337 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 6372837 | 35926 | SH |  | SOLE | 0 | 0 | 0 | 35926 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 12384474 | 70274 | SH |  | SOLE | 0 | 0 | 0 | 70274 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 711879 | 12142 | SH |  | SOLE | 0 | 0 | 0 | 12142 |
| AMAZON COM INC | COM | 023135106 |  | 15958209 | 72739 | SH |  | SOLE | 0 | 0 | 0 | 72739 |
| AMERICAN CENTY ETF TR | US SML CP VALU | 025072877 |  | 931464 | 10225 | SH |  | SOLE | 0 | 0 | 0 | 10225 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 593092 | 5716 | SH |  | SOLE | 0 | 0 | 0 | 5716 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 307731 | 965 | SH |  | SOLE | 0 | 0 | 0 | 965 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 711100 | 3217 | SH |  | SOLE | 0 | 0 | 0 | 3217 |
| AMGEN INC | COM | 031162100 |  | 676037 | 2421 | SH |  | SOLE | 0 | 0 | 0 | 2421 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 483890 | 4900 | SH |  | SOLE | 0 | 0 | 0 | 4900 |
| AON PLC | SHS CL A | G0403H108 |  | 213342 | 598 | SH |  | SOLE | 0 | 0 | 0 | 598 |
| APPIAN CORP | CL A | 03782L101 |  | 848352 | 28411 | SH |  | SOLE | 0 | 0 | 0 | 28411 |
| APPLE INC | COM | 037833100 |  | 23416580 | 114133 | SH |  | SOLE | 0 | 0 | 0 | 114133 |
| APPLIED MATLS INC | COM | 038222105 |  | 895375 | 4891 | SH |  | SOLE | 0 | 0 | 0 | 4891 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 291471 | 13273 | SH |  | SOLE | 0 | 0 | 0 | 13273 |
| AT INC | COM | 00206R102 |  | 333203 | 11514 | SH |  | SOLE | 0 | 0 | 0 | 11514 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 825647 | 2677 | SH |  | SOLE | 0 | 0 | 0 | 2677 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 258445 | 1270 | SH |  | SOLE | 0 | 0 | 0 | 1270 |
| BANK AMERICA CORP | COM | 060505104 |  | 1212828 | 25630 | SH |  | SOLE | 0 | 0 | 0 | 25630 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 728800 | 1 | SH |  | SOLE | 0 | 0 | 0 | 1 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 21558473 | 44380 | SH |  | SOLE | 0 | 0 | 0 | 44380 |
| BLACKROCK HEALTH SCIENCES TR | COM | 09250W107 |  | 5082332 | 139395 | SH |  | SOLE | 0 | 0 | 0 | 139395 |
| BLACKROCK INC | COM | 09290D101 |  | 459572 | 438 | SH |  | SOLE | 0 | 0 | 0 | 438 |
| BLACKROCK MUNIYILD QULT FD I | COM | 09254F100 |  | 12019505 | 1081864 | SH |  | SOLE | 0 | 0 | 0 | 1081864 |
| BLACKSTONE INC | COM | 09260D107 |  | 611547 | 4088 | SH |  | SOLE | 0 | 0 | 0 | 4088 |
| BNY MELLON STRATEGIC MUNS IN | COM | 05588W108 |  | 286584 | 48409 | SH |  | SOLE | 0 | 0 | 0 | 48409 |
| BOEING CO | COM | 097023105 |  | 507063 | 2420 | SH |  | SOLE | 0 | 0 | 0 | 2420 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 285472 | 6167 | SH |  | SOLE | 0 | 0 | 0 | 6167 |
| BROADCOM INC | COM | 11135F101 |  | 1955766 | 7095 | SH |  | SOLE | 0 | 0 | 0 | 7095 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 895279 | 14475 | SH |  | SOLE | 0 | 0 | 0 | 14475 |
| BUNGE GLOBAL SA | COM SHS | H11356104 |  | 303057 | 3775 | SH |  | SOLE | 0 | 0 | 0 | 3775 |
| C3 AI INC | CL A | 12468P104 |  | 200393 | 8156 | SH |  | SOLE | 0 | 0 | 0 | 8156 |
| CALAMOS CONV  HIGH INCOME F | COM SHS | 12811P108 |  | 4659003 | 423931 | SH |  | SOLE | 0 | 0 | 0 | 423931 |
| CATERPILLAR INC | COM | 149123101 |  | 674695 | 1738 | SH |  | SOLE | 0 | 0 | 0 | 1738 |
| CENCORA INC | COM | 03073E105 |  | 4469264 | 14905 | SH |  | SOLE | 0 | 0 | 0 | 14905 |
| CHEVRON CORP NEW | COM | 166764100 |  | 849034 | 5929 | SH |  | SOLE | 0 | 0 | 0 | 5929 |
| CHUBB LIMITED | COM | H1467J104 |  | 370309 | 1278 | SH |  | SOLE | 0 | 0 | 0 | 1278 |
| CISCO SYS INC | COM | 17275R102 |  | 608678 | 8773 | SH |  | SOLE | 0 | 0 | 0 | 8773 |
| COCA COLA CO | COM | 191216100 |  | 556855 | 7871 | SH |  | SOLE | 0 | 0 | 0 | 7871 |
| COHEN  STEERS SELECT PFD | COM | 19248Y107 |  | 836011 | 41510 | SH |  | SOLE | 0 | 0 | 0 | 41510 |
| COMPASS DIVERSIFIED | SH BEN INT | 20451Q104 |  | 2293 | 10000 | SH | Call | SOLE | 0 | 0 | 0 | 10000 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 298082 | 3322 | SH |  | SOLE | 0 | 0 | 0 | 3322 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 738475 | 2288 | SH |  | SOLE | 0 | 0 | 0 | 2288 |
| CORNING INC | COM | 219350105 |  | 449004 | 8538 | SH |  | SOLE | 0 | 0 | 0 | 8538 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2360940 | 2385 | SH |  | SOLE | 0 | 0 | 0 | 2385 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 867864 | 1704 | SH |  | SOLE | 0 | 0 | 0 | 1704 |
| CROWN CASTLE INC | COM | 22822V101 |  | 293294 | 2855 | SH |  | SOLE | 0 | 0 | 0 | 2855 |
| CSX CORP | COM | 126408103 |  | 619030 | 18971 | SH |  | SOLE | 0 | 0 | 0 | 18971 |
| D-WAVE QUANTUM INC | COM | 26740W109 |  | 1178139 | 80474 | SH |  | SOLE | 0 | 0 | 0 | 80474 |
| DANAHER CORPORATION | COM | 235851102 |  | 713038 | 3610 | SH |  | SOLE | 0 | 0 | 0 | 3610 |
| DEERE  CO | COM | 244199105 |  | 371062 | 730 | SH |  | SOLE | 0 | 0 | 0 | 730 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 296252 | 4650 | SH |  | SOLE | 0 | 0 | 0 | 4650 |
| DISNEY WALT CO | COM | 254687106 |  | 730463 | 5890 | SH |  | SOLE | 0 | 0 | 0 | 5890 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 390860 | 6915 | SH |  | SOLE | 0 | 0 | 0 | 6915 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 678818 | 5753 | SH |  | SOLE | 0 | 0 | 0 | 5753 |
| EATON VANCE TAX-MANAGED GLOB | COM | 27829C105 |  | 171170 | 19788 | SH |  | SOLE | 0 | 0 | 0 | 19788 |
| ELI LILLY  CO | COM | 532457108 |  | 2019883 | 2591 | SH |  | SOLE | 0 | 0 | 0 | 2591 |
| EMERSON ELEC CO | COM | 291011104 |  | 631100 | 4733 | SH |  | SOLE | 0 | 0 | 0 | 4733 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 1914082 | 105575 | SH |  | SOLE | 0 | 0 | 0 | 105575 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 1150617 | 37105 | SH |  | SOLE | 0 | 0 | 0 | 37105 |
| EXELON CORP | COM | 30161N101 |  | 273717 | 6304 | SH |  | SOLE | 0 | 0 | 0 | 6304 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2919498 | 27083 | SH |  | SOLE | 0 | 0 | 0 | 27083 |
| FORTINET INC | COM | 34959E109 |  | 223175 | 2111 | SH |  | SOLE | 0 | 0 | 0 | 2111 |
| GABELLI EQUITY TR INC | COM | 362397101 |  | 104879 | 18021 | SH |  | SOLE | 0 | 0 | 0 | 18021 |
| GARTNER INC | COM | 366651107 |  | 1121306 | 2774 | SH |  | SOLE | 0 | 0 | 0 | 2774 |
| GE AEROSPACE | COM NEW | 369604301 |  | 519901 | 2020 | SH |  | SOLE | 0 | 0 | 0 | 2020 |
| GE VERNOVA INC | COM | 36828A101 |  | 257251 | 486 | SH |  | SOLE | 0 | 0 | 0 | 486 |
| GOLDMAN SACHS BDC INC | SHS | 38147U107 |  | 225000 | 20000 | SH |  | SOLE | 0 | 0 | 0 | 20000 |
| GOLDMAN SACHS ETF TR | S 500 PREMIUM | 38149W622 |  | 48475771 | 973018 | SH |  | SOLE | 0 | 0 | 0 | 973018 |
| GOLDMAN SACHS ETF TR | NASDAQ-100 PREMI | 38149W630 |  | 1413586 | 28380 | SH |  | SOLE | 0 | 0 | 0 | 28380 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA US LG | 381430503 |  | 27732119 | 228474 | SH |  | SOLE | 0 | 0 | 0 | 228474 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 551073 | 779 | SH |  | SOLE | 0 | 0 | 0 | 779 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 224206 | 2643 | SH |  | SOLE | 0 | 0 | 0 | 2643 |
| HOME DEPOT INC | COM | 437076102 |  | 1226642 | 3346 | SH |  | SOLE | 0 | 0 | 0 | 3346 |
| HONEYWELL INTL INC | COM | 438516106 |  | 832729 | 3576 | SH |  | SOLE | 0 | 0 | 0 | 3576 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 234331 | 1632 | SH |  | SOLE | 0 | 0 | 0 | 1632 |
| INSULET CORP | COM | 45784P101 |  | 242861 | 773 | SH |  | SOLE | 0 | 0 | 0 | 773 |
| INTEL CORP | COM | 458140100 |  | 203486 | 9084 | SH |  | SOLE | 0 | 0 | 0 | 9084 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1104351 | 3746 | SH |  | SOLE | 0 | 0 | 0 | 3746 |
| INTUIT | COM | 461202103 |  | 212660 | 270 | SH |  | SOLE | 0 | 0 | 0 | 270 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 1469515 | 6471 | SH |  | SOLE | 0 | 0 | 0 | 6471 |
| INVESCO EXCHANGE TRADED FD T | RAFI US 1000 ETF | 46137V613 |  | 5545757 | 131198 | SH |  | SOLE | 0 | 0 | 0 | 131198 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 747702 | 4114 | SH |  | SOLE | 0 | 0 | 0 | 4114 |
| INVESCO EXCHANGE TRADED FD T | S EQL HLT | 46137V332 |  | 2299753 | 78813 | SH |  | SOLE | 0 | 0 | 0 | 78813 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 5407821 | 9803 | SH |  | SOLE | 0 | 0 | 0 | 9803 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1958292 | 31993 | SH |  | SOLE | 0 | 0 | 0 | 31993 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 1486723 | 24766 | SH |  | SOLE | 0 | 0 | 0 | 24766 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 5205711 | 34612 | SH |  | SOLE | 0 | 0 | 0 | 34612 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 727455 | 11613 | SH |  | SOLE | 0 | 0 | 0 | 11613 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 324025 | 2440 | SH |  | SOLE | 0 | 0 | 0 | 2440 |
| ISHARES TR | MORNINGSTAR GRWT | 464287119 |  | 243549 | 2513 | SH |  | SOLE | 0 | 0 | 0 | 2513 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 1557924 | 14150 | SH |  | SOLE | 0 | 0 | 0 | 14150 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 9491749 | 113701 | SH |  | SOLE | 0 | 0 | 0 | 113701 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 2808321 | 8270 | SH |  | SOLE | 0 | 0 | 0 | 8270 |
| ISHARES TR | ESG OPTIMIZED | 464288802 |  | 257953 | 2035 | SH |  | SOLE | 0 | 0 | 0 | 2035 |
| ISHARES TR | CORE S ETF | 464287200 |  | 41796977 | 67317 | SH |  | SOLE | 0 | 0 | 0 | 67317 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 1546956 | 8201 | SH |  | SOLE | 0 | 0 | 0 | 8201 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 269877 | 2721 | SH |  | SOLE | 0 | 0 | 0 | 2721 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 1730120 | 14000 | SH |  | SOLE | 0 | 0 | 0 | 14000 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 7715730 | 18173 | SH |  | SOLE | 0 | 0 | 0 | 18173 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 6508701 | 30162 | SH |  | SOLE | 0 | 0 | 0 | 30162 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 4589512 | 23629 | SH |  | SOLE | 0 | 0 | 0 | 23629 |
| ISHARES TR | US HLTHCARE ETF | 464287762 |  | 1204436 | 21325 | SH |  | SOLE | 0 | 0 | 0 | 21325 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 20191153 | 184748 | SH |  | SOLE | 0 | 0 | 0 | 184748 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 111541437 | 1962031 | SH |  | SOLE | 0 | 0 | 0 | 1962031 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 9068981 | 178946 | SH |  | SOLE | 0 | 0 | 0 | 178946 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 20487115 | 376601 | SH |  | SOLE | 0 | 0 | 0 | 376601 |
| J P MORGAN EXCHANGE TRADED F | INCOME ETF | 46641Q159 |  | 26052023 | 562436 | SH |  | SOLE | 0 | 0 | 0 | 562436 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 25559995 | 503645 | SH |  | SOLE | 0 | 0 | 0 | 503645 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2643772 | 17308 | SH |  | SOLE | 0 | 0 | 0 | 17308 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 305453 | 2892 | SH |  | SOLE | 0 | 0 | 0 | 2892 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 3856523 | 13302 | SH |  | SOLE | 0 | 0 | 0 | 13302 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 610171 | 47969 | SH |  | SOLE | 0 | 0 | 0 | 47969 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 215167 | 1669 | SH |  | SOLE | 0 | 0 | 0 | 1669 |
| KKR  CO INC | COM | 48251W104 |  | 411929 | 3097 | SH |  | SOLE | 0 | 0 | 0 | 3097 |
| LCNB CORP | COM | 50181P100 |  | 305130 | 21000 | SH |  | SOLE | 0 | 0 | 0 | 21000 |
| LINDE PLC | SHS | G54950103 |  | 235648 | 502 | SH |  | SOLE | 0 | 0 | 0 | 502 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 380522 | 822 | SH |  | SOLE | 0 | 0 | 0 | 822 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 820960 | 3005 | SH |  | SOLE | 0 | 0 | 0 | 3005 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 450767 | 2062 | SH |  | SOLE | 0 | 0 | 0 | 2062 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 210533 | 2720 | SH |  | SOLE | 0 | 0 | 0 | 2720 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 5180465 | 9219 | SH |  | SOLE | 0 | 0 | 0 | 9219 |
| MCDONALDS CORP | COM | 580135101 |  | 940182 | 3218 | SH |  | SOLE | 0 | 0 | 0 | 3218 |
| MCKESSON CORP | COM | 58155Q103 |  | 246974 | 337 | SH |  | SOLE | 0 | 0 | 0 | 337 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 218971 | 2512 | SH |  | SOLE | 0 | 0 | 0 | 2512 |
| MERCK  CO INC | COM | 58933Y105 |  | 1068153 | 13494 | SH |  | SOLE | 0 | 0 | 0 | 13494 |
| META PLATFORMS INC | CL A | 30303M102 |  | 9588652 | 12991 | SH |  | SOLE | 0 | 0 | 0 | 12991 |
| MICROSOFT CORP | COM | 594918104 |  | 15703674 | 31571 | SH |  | SOLE | 0 | 0 | 0 | 31571 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 243624 | 1646 | SH |  | SOLE | 0 | 0 | 0 | 1646 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 420703 | 6238 | SH |  | SOLE | 0 | 0 | 0 | 6238 |
| MOODYS CORP | COM | 615369105 |  | 584854 | 1166 | SH |  | SOLE | 0 | 0 | 0 | 1166 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 344845 | 2448 | SH |  | SOLE | 0 | 0 | 0 | 2448 |
| NETFLIX INC | COM | 64110L106 |  | 729826 | 545 | SH |  | SOLE | 0 | 0 | 0 | 545 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 535922 | 7720 | SH |  | SOLE | 0 | 0 | 0 | 7720 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 525548 | 1051 | SH |  | SOLE | 0 | 0 | 0 | 1051 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 243593 | 2013 | SH |  | SOLE | 0 | 0 | 0 | 2013 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 251233 | 3640 | SH |  | SOLE | 0 | 0 | 0 | 3640 |
| NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 |  | 7247242 | 607480 | SH |  | SOLE | 0 | 0 | 0 | 607480 |
| NUVEEN PFD SECS  INC OPPTY | COM | 67075A106 |  | 1551571 | 74595 | SH |  | SOLE | 0 | 0 | 0 | 74595 |
| NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 |  | 9017006 | 798672 | SH |  | SOLE | 0 | 0 | 0 | 798672 |
| NUVEEN VIRGINIA QLTY MUNCPL | COM | 67064R102 |  | 169993 | 15097 | SH |  | SOLE | 0 | 0 | 0 | 15097 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 11257480 | 71254 | SH |  | SOLE | 0 | 0 | 0 | 71254 |
| OAKTREE SPECIALTY LENDING CO | COM | 67401P405 |  | 1192374 | 87289 | SH |  | SOLE | 0 | 0 | 0 | 87289 |
| ONEOK INC NEW | COM | 682680103 |  | 284970 | 3491 | SH |  | SOLE | 0 | 0 | 0 | 3491 |
| ORACLE CORP | COM | 68389X105 |  | 2833731 | 12961 | SH |  | SOLE | 0 | 0 | 0 | 12961 |
| PACER FDS TR | US CASH COWS 100 | 69374H881 |  | 636159 | 11546 | SH |  | SOLE | 0 | 0 | 0 | 11546 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 921796 | 6762 | SH |  | SOLE | 0 | 0 | 0 | 6762 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1447009 | 7071 | SH |  | SOLE | 0 | 0 | 0 | 7071 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 213287 | 305 | SH |  | SOLE | 0 | 0 | 0 | 305 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 200218 | 2694 | SH |  | SOLE | 0 | 0 | 0 | 2694 |
| PEPSICO INC | COM | 713448108 |  | 824152 | 6242 | SH |  | SOLE | 0 | 0 | 0 | 6242 |
| PFIZER INC | COM | 717081103 |  | 318917 | 13157 | SH |  | SOLE | 0 | 0 | 0 | 13157 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1110458 | 6097 | SH |  | SOLE | 0 | 0 | 0 | 6097 |
| PIMCO DYNAMIC INCOME FD | SHS | 72201Y101 |  | 12903563 | 680209 | SH |  | SOLE | 0 | 0 | 0 | 680209 |
| PIMCO DYNAMIC INCOME OPRNTS | COM BEN SHS | 69355M107 |  | 4797580 | 355904 | SH |  | SOLE | 0 | 0 | 0 | 355904 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 4471767 | 48511 | SH |  | SOLE | 0 | 0 | 0 | 48511 |
| PIMCO MUN INCOME FD II | COM | 72200W106 |  | 1726470 | 231741 | SH |  | SOLE | 0 | 0 | 0 | 231741 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 8016734 | 83075 | SH |  | SOLE | 0 | 0 | 0 | 83075 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 2001571 | 12563 | SH |  | SOLE | 0 | 0 | 0 | 12563 |
| PROLOGIS INC. | COM | 74340W103 |  | 362794 | 3451 | SH |  | SOLE | 0 | 0 | 0 | 3451 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 808319 | 8027 | SH |  | SOLE | 0 | 0 | 0 | 8027 |
| PROSHARES TR | SHORT QQQ | 74349Y837 |  | 11008 | 27500 | SH | Call | SOLE | 0 | 0 | 0 | 27500 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 446292 | 1521 | SH |  | SOLE | 0 | 0 | 0 | 1521 |
| PURE STORAGE INC | CL A | 74624M102 |  | 374270 | 6500 | SH |  | SOLE | 0 | 0 | 0 | 6500 |
| QUALCOMM INC | COM | 747525103 |  | 287196 | 1803 | SH |  | SOLE | 0 | 0 | 0 | 1803 |
| READY CAPITAL CORP | COM | 75574U101 |  | 45798 | 10480 | SH |  | SOLE | 0 | 0 | 0 | 10480 |
| RTX CORPORATION | COM | 75513E101 |  | 1093651 | 7490 | SH |  | SOLE | 0 | 0 | 0 | 7490 |
| SALESFORCE INC | COM | 79466L302 |  | 299965 | 1100 | SH |  | SOLE | 0 | 0 | 0 | 1100 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 273268 | 2995 | SH |  | SOLE | 0 | 0 | 0 | 2995 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 559308 | 10680 | SH |  | SOLE | 0 | 0 | 0 | 10680 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 259271 | 3175 | SH |  | SOLE | 0 | 0 | 0 | 3175 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 241474 | 2847 | SH |  | SOLE | 0 | 0 | 0 | 2847 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 2640242 | 17898 | SH |  | SOLE | 0 | 0 | 0 | 17898 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 2686940 | 10611 | SH |  | SOLE | 0 | 0 | 0 | 10611 |
| SERVICENOW INC | COM | 81762P102 |  | 271413 | 264 | SH |  | SOLE | 0 | 0 | 0 | 264 |
| SHENANDOAH TELECOMMUNICATION | COM | 82312B106 |  | 526538 | 38546 | SH |  | SOLE | 0 | 0 | 0 | 38546 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 272810 | 1697 | SH |  | SOLE | 0 | 0 | 0 | 1697 |
| SOUTHERN CO | COM | 842587107 |  | 484526 | 5276 | SH |  | SOLE | 0 | 0 | 0 | 5276 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 402270 | 913 | SH |  | SOLE | 0 | 0 | 0 | 913 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 955947 | 3136 | SH |  | SOLE | 0 | 0 | 0 | 3136 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 3468586 | 5614 | SH |  | SOLE | 0 | 0 | 0 | 5614 |
| SPDR SERIES TRUST | S 600 SMCP VAL | 78464A300 |  | 348790 | 4373 | SH |  | SOLE | 0 | 0 | 0 | 4373 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 6271129 | 46203 | SH |  | SOLE | 0 | 0 | 0 | 46203 |
| SPDR SERIES TRUST | HLTH CR EQUIP | 78464A581 |  | 649680 | 8000 | SH |  | SOLE | 0 | 0 | 0 | 8000 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 673457 | 16193 | SH |  | SOLE | 0 | 0 | 0 | 16193 |
| STARBUCKS CORP | COM | 855244109 |  | 330836 | 3611 | SH |  | SOLE | 0 | 0 | 0 | 3611 |
| STATE STR CORP | COM | 857477103 |  | 283962 | 2670 | SH |  | SOLE | 0 | 0 | 0 | 2670 |
| STRYKER CORPORATION | COM | 863667101 |  | 2052326 | 5187 | SH |  | SOLE | 0 | 0 | 0 | 5187 |
| T ROWE PRICE ETF INC | PRICE DIV GRWT | 87283Q404 |  | 442623 | 10444 | SH |  | SOLE | 0 | 0 | 0 | 10444 |
| T ROWE PRICE ETF INC | PRICE BLUE CHIP | 87283Q107 |  | 238722 | 5264 | SH |  | SOLE | 0 | 0 | 0 | 5264 |
| T ROWE PRICE ETF INC | CAP APPRECIATION | 87283Q867 |  | 18955986 | 537301 | SH |  | SOLE | 0 | 0 | 0 | 537301 |
| TARGA RES CORP | COM | 87612G101 |  | 395336 | 2271 | SH |  | SOLE | 0 | 0 | 0 | 2271 |
| TESLA INC | COM | 88160R101 |  | 796374 | 2507 | SH |  | SOLE | 0 | 0 | 0 | 2507 |
| TEXAS INSTRS INC | COM | 882508104 |  | 493106 | 2375 | SH |  | SOLE | 0 | 0 | 0 | 2375 |
| THE CIGNA GROUP | COM | 125523100 |  | 242426 | 733 | SH |  | SOLE | 0 | 0 | 0 | 733 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 305158 | 753 | SH |  | SOLE | 0 | 0 | 0 | 753 |
| TJX COS INC NEW | COM | 872540109 |  | 274363 | 2222 | SH |  | SOLE | 0 | 0 | 0 | 2222 |
| TORTOISE ENERGY INFRA CORP | COM | 89147L886 |  | 434919 | 9909 | SH |  | SOLE | 0 | 0 | 0 | 9909 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 464640 | 8805 | SH |  | SOLE | 0 | 0 | 0 | 8805 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 966239 | 2209 | SH |  | SOLE | 0 | 0 | 0 | 2209 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 274574 | 1026 | SH |  | SOLE | 0 | 0 | 0 | 1026 |
| TRI CONTL CORP | COM | 895436103 |  | 4406342 | 139177 | SH |  | SOLE | 0 | 0 | 0 | 139177 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 798099 | 18565 | SH |  | SOLE | 0 | 0 | 0 | 18565 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 484414 | 5192 | SH |  | SOLE | 0 | 0 | 0 | 5192 |
| UNION PAC CORP | COM | 907818108 |  | 982655 | 4271 | SH |  | SOLE | 0 | 0 | 0 | 4271 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 811149 | 2600 | SH |  | SOLE | 0 | 0 | 0 | 2600 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 751813 | 2696 | SH |  | SOLE | 0 | 0 | 0 | 2696 |
| VANECK ETF TRUST | MRNGSTR WDE MOAT | 92189F643 |  | 8410783 | 89677 | SH |  | SOLE | 0 | 0 | 0 | 89677 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 |  | 24815515 | 62580 | SH |  | SOLE | 0 | 0 | 0 | 62580 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 5526378 | 28339 | SH |  | SOLE | 0 | 0 | 0 | 28339 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 223814 | 1361 | SH |  | SOLE | 0 | 0 | 0 | 1361 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 15405165 | 35140 | SH |  | SOLE | 0 | 0 | 0 | 35140 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 18732948 | 66944 | SH |  | SOLE | 0 | 0 | 0 | 66944 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 3482725 | 19705 | SH |  | SOLE | 0 | 0 | 0 | 19705 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1239718 | 4079 | SH |  | SOLE | 0 | 0 | 0 | 4079 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 313672 | 552 | SH |  | SOLE | 0 | 0 | 0 | 552 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 256974 | 1084 | SH |  | SOLE | 0 | 0 | 0 | 1084 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 3809697 | 13756 | SH |  | SOLE | 0 | 0 | 0 | 13756 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 1398701 | 4918 | SH |  | SOLE | 0 | 0 | 0 | 4918 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 1468345 | 21844 | SH |  | SOLE | 0 | 0 | 0 | 21844 |
| VANGUARD MALVERN FDS | CORE BD ETF | 922020748 |  | 447336 | 5766 | SH |  | SOLE | 0 | 0 | 0 | 5766 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 30672079 | 149861 | SH |  | SOLE | 0 | 0 | 0 | 149861 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 230070 | 3330 | SH |  | SOLE | 0 | 0 | 0 | 3330 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 303598 | 5325 | SH |  | SOLE | 0 | 0 | 0 | 5325 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 44940470 | 337113 | SH |  | SOLE | 0 | 0 | 0 | 337113 |
| VANGUARD WHITEHALL FDS | INTL HIGH ETF | 921946794 |  | 2662877 | 33240 | SH |  | SOLE | 0 | 0 | 0 | 33240 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 6412110 | 25820 | SH |  | SOLE | 0 | 0 | 0 | 25820 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 211390 | 1928 | SH |  | SOLE | 0 | 0 | 0 | 1928 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 17339535 | 26142 | SH |  | SOLE | 0 | 0 | 0 | 26142 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 271887 | 6283 | SH |  | SOLE | 0 | 0 | 0 | 6283 |
| VISA INC | COM CL A | 92826C839 |  | 7068894 | 19910 | SH |  | SOLE | 0 | 0 | 0 | 19910 |
| WALMART INC | COM | 931142103 |  | 1401941 | 14338 | SH |  | SOLE | 0 | 0 | 0 | 14338 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 679208 | 2968 | SH |  | SOLE | 0 | 0 | 0 | 2968 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 596301 | 7443 | SH |  | SOLE | 0 | 0 | 0 | 7443 |

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