# EDGAR Filing Document

**Accession Number:** 0001731878
**File Stem:** 0001172661-25-004553
**Filing Date:** 2025-11
**Character Count:** 17098
**Document Hash:** a51de951f7756925eb20478f2f875147
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004553.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001172661-25-004553

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**EFFECTIVENESS DATE**: 20251103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Paulson Wealth Management Inc.
- **CENTRAL INDEX KEY:** 0001731878

**ORGANIZATION NAME:**
- **EIN:** 473668743
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18668
- **FILM NUMBER:** 251443631

**BUSINESS ADDRESS:**
- **STREET 1:** 222 LAKEVIEW AVE.
- **STREET 2:** SUITE 800
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401
- **BUSINESS PHONE:** 630-517-2950

**MAIL ADDRESS:**
- **STREET 1:** 222 LAKEVIEW AVE.
- **STREET 2:** SUITE 800
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401

### 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:** Paulson Wealth Management Inc.<br>**Address:** 222 Lakeview Ave.<br>Suite 800<br>West Palm Beach, FL 33401

**Form 13F File Number:** 028-18668

**CRD Number (if applicable):** 000150374

**SEC File Number (if applicable):** 801-109996

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:** Crista Dumais<br>**Title:** Chief Compliance Officer<br>**Phone:** 407-957-0074

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

/s/ Crista Dumais  West Palm Beach, FL  11-03-2025<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:** 136

**Form 13F Information Table Value Total:** $423015388

      (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 |  | 351779 | 2267 | SH |  | SOLE |  | 2267 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 324403 | 2422 | SH |  | SOLE |  | 2422 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 1280185 | 5529 | SH |  | SOLE |  | 5529 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1725795 | 7086 | SH |  | SOLE |  | 7086 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1926492 | 7925 | SH |  | SOLE |  | 7925 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 1045153 | 4760 | SH |  | SOLE |  | 4760 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 862968 | 3058 | SH |  | SOLE |  | 3058 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 24723872 | 97097 | SH |  | SOLE |  | 97097 | 0 | 0 |
| ASBURY AUTOMOTIVE GROUP INC | COM | 043436104 |  | 241028 | 986 | SH |  | SOLE |  | 986 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 288762 | 10225 | SH |  | SOLE |  | 10225 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 479873 | 1635 | SH |  | SOLE |  | 1635 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 248487 | 4753 | SH |  | SOLE |  | 4753 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 618873 | 1231 | SH |  | SOLE |  | 1231 | 0 | 0 |
| BLACKROCK ETF TRUST II | ISHARES INTERMED | 092528207 |  | 4900069 | 204724 | SH |  | SOLE |  | 204724 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1738296 | 5269 | SH |  | SOLE |  | 5269 | 0 | 0 |
| CACI INTL INC | CL A | 127190304 |  | 250886 | 503 | SH |  | SOLE |  | 503 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 850758 | 1783 | SH |  | SOLE |  | 1783 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 484815 | 3122 | SH |  | SOLE |  | 3122 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 923756 | 13501 | SH |  | SOLE |  | 13501 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 301151 | 2967 | SH |  | SOLE |  | 2967 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 403332 | 6082 | SH |  | SOLE |  | 6082 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 223512 | 2796 | SH |  | SOLE |  | 2796 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 200428 | 6379 | SH |  | SOLE |  | 6379 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 249111 | 4349 | SH |  | SOLE |  | 4349 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1349569 | 1458 | SH |  | SOLE |  | 1458 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 514899 | 1050 | SH |  | SOLE |  | 1050 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 271997 | 1224 | SH |  | SOLE |  | 1224 | 0 | 0 |
| DIREXION SHS ETF TR | NAS100 EQL WGT | 25459Y207 |  | 1109988 | 10924 | SH |  | SOLE |  | 10924 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 520294 | 4544 | SH |  | SOLE |  | 4544 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 299351 | 9909 | SH |  | SOLE |  | 9909 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 841589 | 1103 | SH |  | SOLE |  | 1103 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 471566 | 726 | SH |  | SOLE |  | 726 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 352141 | 2684 | SH |  | SOLE |  | 2684 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 822610 | 7296 | SH |  | SOLE |  | 7296 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 238207 | 19917 | SH |  | SOLE |  | 19917 | 0 | 0 |
| GENWORTH FINL INC | COM SHS | 37247D106 |  | 282237 | 31712 | SH |  | SOLE |  | 31712 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 424074 | 3820 | SH |  | SOLE |  | 3820 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 239639 | 301 | SH |  | SOLE |  | 301 | 0 | 0 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 |  | 596326 | 1363 | SH |  | SOLE |  | 1363 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1238261 | 3056 | SH |  | SOLE |  | 3056 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 419854 | 1488 | SH |  | SOLE |  | 1488 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2029 MUNI | 46138J478 |  | 698475 | 30237 | SH |  | SOLE |  | 30237 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2028 MUNI | 46138J486 |  | 900073 | 38440 | SH |  | SOLE |  | 38440 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2027 MUNI | 46138J494 |  | 1347129 | 56937 | SH |  | SOLE |  | 56937 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2026 MUNI | 46138J510 |  | 1304336 | 55210 | SH |  | SOLE |  | 55210 | 0 | 0 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2025 MUNI | 46138J528 |  | 1271008 | 51825 | SH |  | SOLE |  | 51825 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 2409190 | 12700 | SH |  | SOLE |  | 12700 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 4476093 | 7456 | SH |  | SOLE |  | 7456 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 386304 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 665680 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 1129999 | 2982 | SH |  | SOLE |  | 2982 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 33703891 | 139295 | SH |  | SOLE |  | 139295 | 0 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 479862 | 2714 | SH |  | SOLE |  | 2714 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 57275759 | 281329 | SH |  | SOLE |  | 281329 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 66301860 | 141547 | SH |  | SOLE |  | 141547 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 5233078 | 165499 | SH |  | SOLE |  | 165499 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 645437 | 6061 | SH |  | SOLE |  | 6061 | 0 | 0 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 771193 | 3965 | SH |  | SOLE |  | 3965 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 34723037 | 371886 | SH |  | SOLE |  | 371886 | 0 | 0 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 615714 | 6622 | SH |  | SOLE |  | 6622 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4033786 | 6027 | SH |  | SOLE |  | 6027 | 0 | 0 |
| ISHARES TR | CORE S US GWT | 464287671 |  | 529983 | 3221 | SH |  | SOLE |  | 3221 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 10694233 | 89484 | SH |  | SOLE |  | 89484 | 0 | 0 |
| JABIL INC | COM | 466313103 |  | 554652 | 2554 | SH |  | SOLE |  | 2554 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1371575 | 7397 | SH |  | SOLE |  | 7397 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 2663967 | 8446 | SH |  | SOLE |  | 8446 | 0 | 0 |
| LAZARD INC | COM | 52110M109 |  | 2573658 | 48762 | SH |  | SOLE |  | 48762 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 203300 | 428 | SH |  | SOLE |  | 428 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 600050 | 1202 | SH |  | SOLE |  | 1202 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 1107786 | 4408 | SH |  | SOLE |  | 4408 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 207310 | 796 | SH |  | SOLE |  | 796 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 583030 | 1025 | SH |  | SOLE |  | 1025 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 581949 | 1915 | SH |  | SOLE |  | 1915 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 816219 | 9725 | SH |  | SOLE |  | 9725 | 0 | 0 |
| MERITAGE HOMES CORP | COM | 59001A102 |  | 208743 | 2882 | SH |  | SOLE |  | 2882 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 688939 | 938 | SH |  | SOLE |  | 938 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 3113678 | 6012 | SH |  | SOLE |  | 6012 | 0 | 0 |
| NEUBERGER BERMAN ETF TRUST | SHORT DURATION I | 64135A887 |  | 11200305 | 218927 | SH |  | SOLE |  | 218927 | 0 | 0 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUNI | 45409F843 |  | 823612 | 34591 | SH |  | SOLE |  | 34591 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG LRGVL | 67092P300 |  | 512294 | 11689 | SH |  | SOLE |  | 11689 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG LRGCP | 67092P201 |  | 566964 | 5701 | SH |  | SOLE |  | 5701 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1646942 | 8827 | SH |  | SOLE |  | 8827 | 0 | 0 |
| OLD REP INTL CORP | COM | 680223104 |  | 258557 | 6088 | SH |  | SOLE |  | 6088 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 633915 | 2254 | SH |  | SOLE |  | 2254 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 391080 | 2785 | SH |  | SOLE |  | 2785 | 0 | 0 |
| PIMCO ETF TR | MUNI INCOME OPP | 72201R635 |  | 3116467 | 68781 | SH |  | SOLE |  | 68781 | 0 | 0 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 3429045 | 65590 | SH |  | SOLE |  | 65590 | 0 | 0 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 414135 | 4113 | SH |  | SOLE |  | 4113 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 209694 | 2043 | SH |  | SOLE |  | 2043 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 763814 | 4971 | SH |  | SOLE |  | 4971 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 784720 | 4717 | SH |  | SOLE |  | 4717 | 0 | 0 |
| RADIAN GROUP INC | COM | 750236101 |  | 230685 | 6369 | SH |  | SOLE |  | 6369 | 0 | 0 |
| REINSURANCE GRP OF AMERICA I | COM NEW | 759351604 |  | 301452 | 1569 | SH |  | SOLE |  | 1569 | 0 | 0 |
| RELIANCE INC | COM | 759509102 |  | 316495 | 1127 | SH |  | SOLE |  | 1127 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 570424 | 1172 | SH |  | SOLE |  | 1172 | 0 | 0 |
| SANMINA CORPORATION | COM | 801056102 |  | 402194 | 3494 | SH |  | SOLE |  | 3494 | 0 | 0 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 1112853 | 39887 | SH |  | SOLE |  | 39887 | 0 | 0 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 348844 | 11769 | SH |  | SOLE |  | 11769 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 4648230 | 176470 | SH |  | SOLE |  | 176470 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 897094 | 32861 | SH |  | SOLE |  | 32861 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 292000 | 11357 | SH |  | SOLE |  | 11357 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 406442 | 1442 | SH |  | SOLE |  | 1442 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 1746453 | 3766 | SH |  | SOLE |  | 3766 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 12881754 | 19337 | SH |  | SOLE |  | 19337 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 6338728 | 10635 | SH |  | SOLE |  | 10635 | 0 | 0 |
| SPDR SERIES TRUST | SPDR S SMALLCA | 78468R481 |  | 263473 | 8400 | SH |  | SOLE |  | 8400 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78468R853 |  | 5625332 | 121445 | SH |  | SOLE |  | 121445 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLI S | 78464A805 |  | 1222815 | 15162 | SH |  | SOLE |  | 15162 | 0 | 0 |
| SPDR SERIES TRUST | NUVEEN ICE SHORT | 78468R739 |  | 2094026 | 43426 | SH |  | SOLE |  | 43426 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 2335863 | 25459 | SH |  | SOLE |  | 25459 | 0 | 0 |
| SPDR SERIES TRUST | BBG CONV SEC ETF | 78464A359 |  | 14656262 | 161948 | SH |  | SOLE |  | 161948 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 |  | 301864 | 4573 | SH |  | SOLE |  | 4573 | 0 | 0 |
| TD SYNNEX CORPORATION | COM | 87162W100 |  | 335196 | 2047 | SH |  | SOLE |  | 2047 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 1124535 | 6121 | SH |  | SOLE |  | 6121 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 517697 | 1796 | SH |  | SOLE |  | 1796 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 864631 | 2504 | SH |  | SOLE |  | 2504 | 0 | 0 |
| UNUM GROUP | COM | 91529Y106 |  | 309564 | 3980 | SH |  | SOLE |  | 3980 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 415976 | 8607 | SH |  | SOLE |  | 8607 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 252381 | 3394 | SH |  | SOLE |  | 3394 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1751262 | 5336 | SH |  | SOLE |  | 5336 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1534293 | 6034 | SH |  | SOLE |  | 6034 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 852360 | 4084 | SH |  | SOLE |  | 4084 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 304684 | 498 | SH |  | SOLE |  | 498 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 634776 | 2161 | SH |  | SOLE |  | 2161 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 407577 | 2335 | SH |  | SOLE |  | 2335 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 569007 | 1937 | SH |  | SOLE |  | 1937 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS3000IDX | 92206C599 |  | 559207 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 17284616 | 216247 | SH |  | SOLE |  | 216247 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 349879 | 1621 | SH |  | SOLE |  | 1621 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 10400650 | 173576 | SH |  | SOLE |  | 173576 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 342863 | 7801 | SH |  | SOLE |  | 7801 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1331382 | 3900 | SH |  | SOLE |  | 3900 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 729900 | 7082 | SH |  | SOLE |  | 7082 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 352201 | 1802 | SH |  | SOLE |  | 1802 | 0 | 0 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 325008 | 2454 | SH |  | SOLE |  | 2454 | 0 | 0 |
| XPO INC | COM | 983793100 |  | 213554 | 1652 | SH |  | SOLE |  | 1652 | 0 | 0 |

---