# EDGAR Filing Document

**Accession Number:** 0001509873
**File Stem:** 0001509873-25-000005
**Filing Date:** 2025-7
**Character Count:** 9730
**Document Hash:** bfe063a1e031e95932ad7212028375f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001509873-25-000005.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001509873-25-000005

**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:** STERLING INVESTMENT MANAGEMENT, LLC
- **CENTRAL INDEX KEY:** 0001509873

**ORGANIZATION NAME:**
- **EIN:** 860802628
- **STATE OF INCORPORATION:** AZ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14058
- **FILM NUMBER:** 251166045

**BUSINESS ADDRESS:**
- **STREET 1:** 6262 N. SWAN ROAD, SUITE 210
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85718
- **BUSINESS PHONE:** 5202933311

**MAIL ADDRESS:**
- **STREET 1:** 6262 N. SWAN ROAD, SUITE 210
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85718

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sterling Investment Management, Inc.
- **DATE OF NAME CHANGE:** 20110107

### 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:** STERLING INVESTMENT MANAGEMENT LLC<br>**Address:** 6262 N. SWAN ROAD SUITE 210<br>TUCSON, AZ 85718

**Form 13F File Number:** 028-14058

**CRD Number (if applicable):** 000112923

**SEC File Number (if applicable):** 801-50373

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:** Crystal Kelly<br>**Title:** Chief Compliance Officer<br>**Phone:** 5202933311

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

Crystal Kelly  TUCSON, AZ  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:** 56

**Form 13F Information Table Value Total:** $151029288

      (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 |
| TECHNOLOGY SELECT SECTOR SPDR FUND | ETF | 81369Y803 |  | 939737 | 3711 | SH |  | SOLE | 0 | 0 | 0 | 3711 |
| JOHNSON  JOHNSON COM | Stock | 478160104 |  | 1992837 | 13046 | SH |  | SOLE | 0 | 0 | 0 | 13046 |
| WASTE MGMT INC DEL COM | Stock | 94106L109 |  | 1453693 | 6353 | SH |  | SOLE | 0 | 0 | 0 | 6353 |
| VANGUARD TOTAL STOCK MARKET ETF | ETF | 922908769 |  | 595703 | 1960 | SH |  | SOLE | 0 | 0 | 0 | 1960 |
| GOLDMAN SACHS GROUP INC COM | Stock | 38141G104 |  | 2932916 | 4144 | SH |  | SOLE | 0 | 0 | 0 | 4144 |
| PROCTER AND GAMBLE CO COM | Stock | 742718109 |  | 307938 | 1932 | SH |  | SOLE | 0 | 0 | 0 | 1932 |
| FIRST TRUST MORNINGSTAR DIVIDEND LEADERS INDEX FUND | ETF | 336917109 |  | 242846 | 5800 | SH |  | SOLE | 0 | 0 | 0 | 5800 |
| OCCIDENTAL PETE CORP COM | Stock | 674599105 |  | 2494344 | 59375 | SH |  | SOLE | 0 | 0 | 0 | 59375 |
| AVALONBAY CMNTYS INC COM | REIT | 053484101 |  | 1211436 | 5953 | SH |  | SOLE | 0 | 0 | 0 | 5953 |
| HEALTH CARE SELECT SECTOR SPDR FUND | ETF | 81369Y209 |  | 319318 | 2369 | SH |  | SOLE | 0 | 0 | 0 | 2369 |
| SPDR GOLD SHARES | ETF | 78463V107 |  | 10752573 | 35274 | SH |  | SOLE | 0 | 0 | 0 | 35274 |
| BRITISH AMERN TOB PLC SPONSORED ADR | ADR | 110448107 |  | 1165217 | 24619 | SH |  | SOLE | 0 | 0 | 0 | 24619 |
| SCHWAB INTERNATIONAL EQUITY ETF | ETF | 808524805 |  | 620537 | 28079 | SH |  | SOLE | 0 | 0 | 0 | 28078 |
| ISHARES CORE S SMALL CAP ETF | ETF | 464287804 |  | 325028 | 2974 | SH |  | SOLE | 0 | 0 | 0 | 2974 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | Stock | 084670702 |  | 15974061 | 32884 | SH |  | SOLE | 0 | 0 | 0 | 32884 |
| SCHWAB EMERGING MARKETS EQUITY ETF | ETF | 808524706 |  | 283165 | 9395 | SH |  | SOLE | 0 | 0 | 0 | 9395 |
| MICROSOFT CORP COM | Stock | 594918104 |  | 4525436 | 9098 | SH |  | SOLE | 0 | 0 | 0 | 9098 |
| COMMUNICATION SERVICES SELECT SECTOR SPDR FUND | ETF | 81369Y852 |  | 271434 | 2501 | SH |  | SOLE | 0 | 0 | 0 | 2501 |
| ST JOE CO COM | Stock | 790148100 |  | 1008855 | 21150 | SH |  | SOLE | 0 | 0 | 0 | 21150 |
| BERKSHIRE HATHAWAY INC DEL CL A | Stock | 084670108 |  | 5101600 | 7 | SH |  | SOLE | 0 | 0 | 0 | 7 |
| BOEING CO COM | Stock | 097023105 |  | 2275705 | 10861 | SH |  | SOLE | 0 | 0 | 0 | 10861 |
| FINANCIAL SELECT SECTOR SPDR FUND | ETF | 81369Y605 |  | 388795 | 7424 | SH |  | SOLE | 0 | 0 | 0 | 7424 |
| ALERIAN MLP ETF | ETF | 00162Q452 |  | 3209244 | 65682 | SH |  | SOLE | 0 | 0 | 0 | 65682 |
| VANGUARD MORTGAGE-BACKED SECURITIES ETF | ETF | 92206C771 |  | 10676180 | 230388 | SH |  | SOLE | 0 | 0 | 0 | 230388 |
| PROSHARES SHORT S | ETF | 74349Y753 |  | 3991292 | 100587 | SH |  | SOLE | 0 | 0 | 0 | 100587 |
| SCHWAB US AGGREGATE BOND ETF | ETF | 808524839 |  | 1548481 | 66630 | SH |  | SOLE | 0 | 0 | 0 | 66630 |
| VISA INC COM CL A | Stock | 92826C839 |  | 4306046 | 12128 | SH |  | SOLE | 0 | 0 | 0 | 12128 |
| ISHARES MSCI INDIA ETF | ETF | 46429B598 |  | 1314828 | 23614 | SH |  | SOLE | 0 | 0 | 0 | 23614 |
| CANADIAN PACIFIC KANSAS CITY COM | Stock | 13646K108 |  | 4615099 | 58220 | SH |  | SOLE | 0 | 0 | 0 | 58220 |
| MOODYS CORP COM | Stock | 615369105 |  | 4593060 | 9157 | SH |  | SOLE | 0 | 0 | 0 | 9157 |
| PROSHARES SHORT QQQ | ETF | 74349Y837 |  | 2604947 | 77390 | SH |  | SOLE | 0 | 0 | 0 | 77390 |
| NVIDIA CORPORATION COM | Stock | 67066G104 |  | 236515 | 1497 | SH |  | SOLE | 0 | 0 | 0 | 1497 |
| ABBVIE INC COM | Stock | 00287Y109 |  | 2643043 | 14239 | SH |  | SOLE | 0 | 0 | 0 | 14239 |
| S GLOBAL INC COM | Stock | 78409V104 |  | 4657553 | 8833 | SH |  | SOLE | 0 | 0 | 0 | 8833 |
| FERROVIAL SE ORD SHS | Stock | N3168P101 |  | 1055436 | 19702 | SH |  | SOLE | 0 | 0 | 0 | 19702 |
| QUALCOMM INC COM | Stock | 747525103 |  | 1081057 | 6788 | SH |  | SOLE | 0 | 0 | 0 | 6788 |
| VANGUARD INTERMEDIATE-TERM BOND ETF | ETF | 921937819 |  | 3058488 | 39546 | SH |  | SOLE | 0 | 0 | 0 | 39546 |
| GE AEROSPACE COM NEW | Stock | 369604301 |  | 4493000 | 17456 | SH |  | SOLE | 0 | 0 | 0 | 17456 |
| CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND | ETF | 81369Y407 |  | 262969 | 1210 | SH |  | SOLE | 0 | 0 | 0 | 1210 |
| INDUSTRIAL SELECT SECTOR SPDR FUND | ETF | 81369Y704 |  | 261700 | 1774 | SH |  | SOLE | 0 | 0 | 0 | 1774 |
| WELLS FARGO CO NEW COM | Stock | 949746101 |  | 1225435 | 15295 | SH |  | SOLE | 0 | 0 | 0 | 15295 |
| REPUBLIC SVCS INC COM | Stock | 760759100 |  | 1486072 | 6026 | SH |  | SOLE | 0 | 0 | 0 | 6026 |
| THERMO FISHER SCIENTIFIC INC COM | Stock | 883556102 |  | 1699283 | 4191 | SH |  | SOLE | 0 | 0 | 0 | 4191 |
| JPMORGAN CHASE  CO. COM | Stock | 46625H100 |  | 405294 | 1398 | SH |  | SOLE | 0 | 0 | 0 | 1398 |
| VANGUARD FTSE DEVELOPED MARKETS ETF | ETF | 921943858 |  | 1353645 | 23744 | SH |  | SOLE | 0 | 0 | 0 | 23744 |
| DANAHER CORPORATION COM | Stock | 235851102 |  | 802803 | 4064 | SH |  | SOLE | 0 | 0 | 0 | 4064 |
| WALMART INC COM | Stock | 931142103 |  | 3016018 | 30844 | SH |  | SOLE | 0 | 0 | 0 | 30844 |
| VANGUARD FTSE EMERGING MARKETS ETF | ETF | 922042858 |  | 1629756 | 32951 | SH |  | SOLE | 0 | 0 | 0 | 32951 |
| ALPHABET INC CAP STK CL C | Stock | 02079K107 |  | 4825895 | 27205 | SH |  | SOLE | 0 | 0 | 0 | 27205 |
| CANADIAN NATL RY CO COM | Stock | 136375102 |  | 5285544 | 50803 | SH |  | SOLE | 0 | 0 | 0 | 50803 |
| VANGUARD SHORT-TERM BOND ETF | ETF | 921937827 |  | 4411371 | 56053 | SH |  | SOLE | 0 | 0 | 0 | 56053 |
| UNITEDHEALTH GROUP INC COM | Stock | 91324P102 |  | 1308090 | 4193 | SH |  | SOLE | 0 | 0 | 0 | 4193 |
| NOVO-NORDISK A S ADR | ADR | 670100205 |  | 955513 | 13844 | SH |  | SOLE | 0 | 0 | 0 | 13844 |
| CAMECO CORP COM | Stock | 13321L108 |  | 3319046 | 44713 | SH |  | SOLE | 0 | 0 | 0 | 44713 |
| APPLE INC COM | Stock | 037833100 |  | 2528720 | 12325 | SH |  | SOLE | 0 | 0 | 0 | 12325 |
| SPDR BLOOMBERG 1-3 MONTH T-BILL ETF | ETF | 78468R663 |  | 6984689 | 76144 | SH |  | SOLE | 0 | 0 | 0 | 76144 |

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