# EDGAR Filing Document

**Accession Number:** 0001731216
**File Stem:** 0001731216-25-000005
**Filing Date:** 2025-10
**Character Count:** 10503
**Document Hash:** 07f5a8888c6631b676b17c4ad1bd926a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731216-25-000005.hdr.sgml**: 20251006

**ACCESSION NUMBER**: 0001731216-25-000005

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251006

**DATE AS OF CHANGE**: 20251003

**EFFECTIVENESS DATE**: 20251006

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Martin Capital Partners, LLC
- **CENTRAL INDEX KEY:** 0001731216

**ORGANIZATION NAME:**
- **EIN:** 272233908
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18410
- **FILM NUMBER:** 251375216

**BUSINESS ADDRESS:**
- **STREET 1:** 940 WILLAMETTE STREET
- **STREET 2:** SUITE 350
- **CITY:** EUGENE
- **STATE:** OR
- **ZIP:** 97401
- **BUSINESS PHONE:** 5416364170

**MAIL ADDRESS:**
- **STREET 1:** 940 WILLAMETTE STREET
- **STREET 2:** SUITE 350
- **CITY:** EUGENE
- **STATE:** OR
- **ZIP:** 97401

### 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:** Martin Capital Partners LLC<br>**Address:** 940 WILLAMETTE STREET<br>SUITE 350<br>EUGENE, OR 97401

**Form 13F File Number:** 028-18410

**CRD Number (if applicable):** 000153452

**SEC File Number (if applicable):** 801-71360

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:** Ryan S. Adair<br>**Title:** Operations Manager<br>**Phone:** 541-636-4170

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

Ryan S. Adair  Eugene, OR  10-03-2025<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:** 70

**Form 13F Information Table Value Total:** $257801

      (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 |
| ABRDN ASIA PACIFIC INCOME FU | COM NEW | 003009867 |  | 214 | 13156 | SH |  | SOLE |  | 13156 | 0 | 0 |
| ALLISON TRANSMISSION HLDGS I | COM | 01973R101 |  | 268 | 3162 | SH |  | SOLE |  | 2508 | 0 | 654 |
| AMGEN INC | COM | 031162100 |  | 8500 | 30119 | SH |  | SOLE |  | 26530 | 0 | 3589 |
| APPLE INC | COM | 037833100 |  | 813 | 3193 | SH |  | SOLE |  | 2580 | 0 | 613 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 8286 | 8559 | SH |  | SOLE |  | 7467 | 0 | 1092 |
| BLACK HILLS CORP | COM | 092113109 |  | 7667 | 124490 | SH |  | SOLE |  | 107412 | 0 | 17078 |
| BROADCOM INC | COM | 11135F101 |  | 241 | 732 | SH |  | SOLE |  | 732 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 914 | 6901 | SH |  | SOLE |  | 5832 | 0 | 1069 |
| CENCORA INC | COM | 03073E105 |  | 934 | 2989 | SH |  | SOLE |  | 2551 | 0 | 438 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 275 | 7078 | SH |  | SOLE |  | 5500 | 0 | 1578 |
| CHEVRON CORP NEW | COM | 166764100 |  | 7837 | 50468 | SH |  | SOLE |  | 43404 | 0 | 7064 |
| CISCO SYS INC | COM | 17275R102 |  | 8053 | 117693 | SH |  | SOLE |  | 103455 | 0 | 14238 |
| CLOROX CO DEL | COM | 189054109 |  | 655 | 5314 | SH |  | SOLE |  | 4862 | 0 | 452 |
| CME GROUP INC | COM | 12572Q105 |  | 8413 | 31137 | SH |  | SOLE |  | 27204 | 0 | 3933 |
| COCA-COLA FEMSA SAB DE CV | SPONS ADS REP | 191241108 |  | 4510 | 54268 | SH |  | SOLE |  | 47510 | 0 | 6758 |
| COMERICA INC | COM | 200340107 |  | 527 | 7687 | SH |  | SOLE |  | 6569 | 0 | 1118 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 364 | 393 | SH |  | SOLE |  | 393 | 0 | 0 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 8363 | 65969 | SH |  | SOLE |  | 56927 | 0 | 9042 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 4695 | 133921 | SH |  | SOLE |  | 115283 | 0 | 18638 |
| EASTMAN CHEM CO | COM | 277432100 |  | 447 | 7089 | SH |  | SOLE |  | 6140 | 0 | 949 |
| ELI LILLY  CO | COM | 532457108 |  | 317 | 416 | SH |  | SOLE |  | 416 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 6430 | 69000 | SH |  | SOLE |  | 60478 | 0 | 8522 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 6154 | 54584 | SH |  | SOLE |  | 46890 | 0 | 7694 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 7376 | 21630 | SH |  | SOLE |  | 18871 | 0 | 2759 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 713 | 4788 | SH |  | SOLE |  | 4104 | 0 | 684 |
| HOME DEPOT INC | COM | 437076102 |  | 4765 | 11761 | SH |  | SOLE |  | 10350 | 0 | 1411 |
| HORMEL FOODS CORP | COM | 440452100 |  | 289 | 11691 | SH |  | SOLE |  | 10701 | 0 | 990 |
| HUNTINGTON INGALLS INDS INC | COM | 446413106 |  | 511 | 1774 | SH |  | SOLE |  | 1402 | 0 | 372 |
| INGREDION INC | COM | 457187102 |  | 593 | 4860 | SH |  | SOLE |  | 4047 | 0 | 813 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 4859 | 91632 | SH |  | SOLE |  | 87296 | 0 | 4336 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 3935 | 47429 | SH |  | SOLE |  | 45157 | 0 | 2272 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 3447 | 33345 | SH |  | SOLE |  | 32103 | 0 | 1242 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 1187 | 9930 | SH |  | SOLE |  | 9495 | 0 | 435 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 8060 | 43470 | SH |  | SOLE |  | 38143 | 0 | 5327 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7509 | 23805 | SH |  | SOLE |  | 20842 | 0 | 2963 |
| LINCOLN ELEC HLDGS INC | COM | 533900106 |  | 654 | 2773 | SH |  | SOLE |  | 2321 | 0 | 452 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 3431 | 6872 | SH |  | SOLE |  | 6024 | 0 | 848 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 6626 | 69569 | SH |  | SOLE |  | 60423 | 0 | 9146 |
| MICROSOFT CORP | COM | 594918104 |  | 8201 | 15834 | SH |  | SOLE |  | 13775 | 0 | 2059 |
| MSC INDL DIRECT INC | CL A | 553530106 |  | 773 | 8388 | SH |  | SOLE |  | 7604 | 0 | 784 |
| NIKE INC | CL B | 654106103 |  | 4991 | 71569 | SH |  | SOLE |  | 61771 | 0 | 9798 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 6524 | 117577 | SH |  | SOLE |  | 101028 | 0 | 16549 |
| OMNICOM GROUP INC | COM | 681919106 |  | 596 | 7309 | SH |  | SOLE |  | 6326 | 0 | 983 |
| PAYCHEX INC | COM | 704326107 |  | 649 | 5118 | SH |  | SOLE |  | 4225 | 0 | 893 |
| PEPSICO INC | COM | 713448108 |  | 5506 | 39204 | SH |  | SOLE |  | 33703 | 0 | 5501 |
| PFIZER INC | COM | 717081103 |  | 4760 | 186807 | SH |  | SOLE |  | 163336 | 0 | 23471 |
| PHILLIPS 66 | COM | 718546104 |  | 4588 | 33727 | SH |  | SOLE |  | 29435 | 0 | 4292 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 |  | 4811 | 109347 | SH |  | SOLE |  | 94121 | 0 | 15226 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 5716 | 55687 | SH |  | SOLE |  | 48190 | 0 | 7497 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 897 | 10824 | SH |  | SOLE |  | 9336 | 0 | 1488 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 5699 | 37088 | SH |  | SOLE |  | 32236 | 0 | 4852 |
| PROSHARES TR | S MDCP 400 DIV | 74347B680 |  | 300 | 3515 | SH |  | SOLE |  | 2861 | 0 | 654 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 938 | 4924 | SH |  | SOLE |  | 4168 | 0 | 756 |
| REALTY INCOME CORP | COM | 756109104 |  | 6558 | 107877 | SH |  | SOLE |  | 93781 | 0 | 14096 |
| REINSURANCE GRP OF AMERICA I | COM NEW | 759351604 |  | 5010 | 26075 | SH |  | SOLE |  | 22532 | 0 | 3543 |
| ROBERT HALF INC. | COM | 770323103 |  | 5631 | 165729 | SH |  | SOLE |  | 143414 | 0 | 22315 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 598 | 21916 | SH |  | SOLE |  | 17898 | 0 | 4018 |
| SNAP ON INC | COM | 833034101 |  | 330 | 953 | SH |  | SOLE |  | 748 | 0 | 205 |
| SPDR SERIES TRUST | PORTFOLIO SHORT | 78464A474 |  | 5597 | 184796 | SH |  | SOLE |  | 176265 | 0 | 8531 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 624 | 4452 | SH |  | SOLE |  | 3663 | 0 | 789 |
| SPDR SERIES TRUST | BLOOMBERG SHORT | 78464A334 |  | 315 | 11320 | SH |  | SOLE |  | 11320 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 528 | 7106 | SH |  | SOLE |  | 6427 | 0 | 679 |
| TEXAS INSTRS INC | COM | 882508104 |  | 6938 | 37761 | SH |  | SOLE |  | 33131 | 0 | 4630 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 |  | 3727 | 62439 | SH |  | SOLE |  | 53916 | 0 | 8523 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 6597 | 111293 | SH |  | SOLE |  | 97006 | 0 | 14287 |
| UNION PAC CORP | COM | 907818108 |  | 6210 | 26273 | SH |  | SOLE |  | 22685 | 0 | 3588 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 6972 | 83463 | SH |  | SOLE |  | 71906 | 0 | 11557 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 294 | 3278 | SH |  | SOLE |  | 2675 | 0 | 603 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 7841 | 178397 | SH |  | SOLE |  | 156385 | 0 | 22012 |
| WESTERN ASSET INVESTMENT GRA | COM | 95766T100 |  | 250 | 19518 | SH |  | SOLE |  | 19518 | 0 | 0 |

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