# EDGAR Filing Document

**Accession Number:** 0001759236
**File Stem:** 0001759236-25-000006
**Filing Date:** 2025-7
**Character Count:** 19839
**Document Hash:** 1c96b2bf46ebf3c979528e00be7084f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001759236-25-000006.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001759236-25-000006

**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:** Black Diamond Financial, LLC
- **CENTRAL INDEX KEY:** 0001759236

**ORGANIZATION NAME:**
- **EIN:** 260803520
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19171
- **FILM NUMBER:** 251164750

**BUSINESS ADDRESS:**
- **STREET 1:** 305 W PENNSYLVANIA AVE
- **CITY:** TOWSON
- **STATE:** MD
- **ZIP:** 21204-4413
- **BUSINESS PHONE:** 8043344059

**MAIL ADDRESS:**
- **STREET 1:** 305 W PENNSYLVANIA AVE
- **CITY:** TOWSON
- **STATE:** MD
- **ZIP:** 21204-4413

### 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:** Black Diamond Financial LLC<br>**Address:** 305 W PENNSYLVANIA AVE<br>TOWSON, MD 21204-4413

**Form 13F File Number:** 028-19171

**CRD Number (if applicable):** 000145108

**SEC File Number (if applicable):** 801-96172

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:** Matt Goette<br>**Title:** President  Chief Investment Officer<br>**Phone:** 804-334-4059

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

Matt Goette  Towson, MD  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:** 144

**Form 13F Information Table Value Total:** $643944243

      (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 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 377364 | 2033 | SH |  | SOLE |  | 0 | 0 | 2033 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 900932 | 5112 | SH |  | SOLE |  | 0 | 0 | 5112 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 1677579 | 9457 | SH |  | SOLE |  | 0 | 0 | 9457 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 2377749 | 10838 | SH |  | SOLE |  | 0 | 0 | 10838 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 5831933 | 28424 | SH |  | SOLE |  | 0 | 0 | 28424 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 1162101 | 24558 | SH |  | SOLE |  | 0 | 0 | 24558 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 2331212 | 4799 | SH |  | SOLE |  | 0 | 0 | 4799 |
| BLACKROCK ETF TRUST | US CARBON TRANS | 09290C509 | BBG00ZS43SF2 | 270366 | 4019 | SH |  | SOLE |  | 0 | 0 | 4019 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 237614 | 1589 | SH |  | SOLE |  | 0 | 0 | 1589 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 269431 | 977 | SH |  | SOLE |  | 0 | 0 | 977 |
| CAPRICOR THERAPEUTICS INC | COM NEW | 14070B309 | BBG001SKJV12 | 2757929 | 277737 | SH |  | SOLE |  | 0 | 0 | 277737 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 276020 | 711 | SH |  | SOLE |  | 0 | 0 | 711 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 616070 | 4302 | SH |  | SOLE |  | 0 | 0 | 4302 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 | BBG014KFRPJ9 | 1651486 | 5117 | SH |  | SOLE |  | 0 | 0 | 5117 |
| CORCEPT THERAPEUTICS INC | COM | 218352102 | BBG001S8QGV1 | 565180 | 7700 | SH |  | SOLE |  | 0 | 0 | 7700 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 497290 | 502 | SH |  | SOLE |  | 0 | 0 | 502 |
| CSX CORP | COM | 126408103 | BBG001S5Q7Q3 | 494247 | 15147 | SH |  | SOLE |  | 0 | 0 | 15147 |
| CUMMINS INC | COM | 231021106 | BBG001S5Q9M3 | 225321 | 688 | SH |  | SOLE |  | 0 | 0 | 688 |
| CUSTOM TRUCK ONE SOURCE INC | COM CL A | 23204X103 | BBG00HLCWDG1 | 128934 | 26100 | SH |  | SOLE |  | 0 | 0 | 26100 |
| DEERE  CO | COM | 244199105 | BBG001S5QFF7 | 318315 | 626 | SH |  | SOLE |  | 0 | 0 | 626 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 2276031 | 2919 | SH |  | SOLE |  | 0 | 0 | 2919 |
| EVERGY INC | COM | 30034W106 | BBG00H433CS1 | 280889 | 4075 | SH |  | SOLE |  | 0 | 0 | 4075 |
| EXELON CORP | COM | 30161N101 | BBG001SBJMT2 | 614363 | 14149 | SH |  | SOLE |  | 0 | 0 | 14149 |
| EXPEDITORS INTL WASH INC | COM | 302130109 | BBG001S5QZZ1 | 220160 | 1927 | SH |  | SOLE |  | 0 | 0 | 1927 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 667379 | 6191 | SH |  | SOLE |  | 0 | 0 | 6191 |
| FIDELITY COVINGTON TRUST | MSCI RL EST ETF | 316092857 | BBG008229899 | 15331029 | 566976 | SH |  | SOLE |  | 0 | 0 | 566976 |
| GE AEROSPACE | COM NEW | 369604301 | BBG001S5PVD5 | 318676 | 1239 | SH |  | SOLE |  | 0 | 0 | 1239 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 | BBG00G5CR9C0 | 215748 | 4951 | SH |  | SOLE |  | 0 | 0 | 4951 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 274151 | 748 | SH |  | SOLE |  | 0 | 0 | 748 |
| HONEYWELL INTL INC | COM | 438516106 | BBG001S5X1N1 | 364457 | 1565 | SH |  | SOLE |  | 0 | 0 | 1565 |
| INDUSTRIAL LOGISTICS PPTYS T | COM SHS BEN INT | 456237106 | BBG00JBBPSP5 | 91000 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 807534 | 2739 | SH |  | SOLE |  | 0 | 0 | 2739 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 | BBG00KJR2NN7 | 1000615 | 5505 | SH |  | SOLE |  | 0 | 0 | 5505 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 2856108 | 5178 | SH |  | SOLE |  | 0 | 0 | 5178 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 | BBG01KYQ6QS5 | 629974 | 10292 | SH |  | SOLE |  | 0 | 0 | 10292 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 | BBG001SJK6D5 | 601400 | 9644 | SH |  | SOLE |  | 0 | 0 | 9644 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 | BBG003HC3DG9 | 7039415 | 117266 | SH |  | SOLE |  | 0 | 0 | 117266 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 | BBG001V0XLT8 | 687202 | 5865 | SH |  | SOLE |  | 0 | 0 | 5865 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 | BBG003H6TRS0 | 1696977 | 20328 | SH |  | SOLE |  | 0 | 0 | 20328 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 448353 | 7229 | SH |  | SOLE |  | 0 | 0 | 7229 |
| ISHARES TR | CORE S SCP ETF | 464287804 | BBG001SFC7W9 | 2487873 | 22764 | SH |  | SOLE |  | 0 | 0 | 22764 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 5293825 | 8526 | SH |  | SOLE |  | 0 | 0 | 8526 |
| ISHARES TR | CORE US AGGBD ET | 464287226 | BBG001SM1QT8 | 32007260 | 322654 | SH |  | SOLE |  | 0 | 0 | 322654 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 | BBG00FFPFTS4 | 256128 | 1893 | SH |  | SOLE |  | 0 | 0 | 1893 |
| ISHARES TR | ESG MSCI KLD 400 | 464288570 | BBG001SRYH02 | 212108 | 1826 | SH |  | SOLE |  | 0 | 0 | 1826 |
| ISHARES TR | ESG MSCI USA ETF | 46436E767 | BBG00VHK2B74 | 218363 | 4049 | SH |  | SOLE |  | 0 | 0 | 4049 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | BBG001ST0ZQ7 | 248080 | 3076 | SH |  | SOLE |  | 0 | 0 | 3076 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 | BBG001SSD858 | 11051380 | 209465 | SH |  | SOLE |  | 0 | 0 | 209465 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 | BBG001SSD849 | 16881482 | 316785 | SH |  | SOLE |  | 0 | 0 | 316785 |
| ISHARES TR | MRGSTR MD CP GRW | 464288307 | BBG001SBRK44 | 2634751 | 32840 | SH |  | SOLE |  | 0 | 0 | 32840 |
| ISHARES TR | MRGSTR MD CP VAL | 464288406 | BBG001SBRK53 | 8416235 | 110769 | SH |  | SOLE |  | 0 | 0 | 110769 |
| ISHARES TR | MRGSTR SM CP GR | 464288604 | BBG001SBRKD4 | 5318004 | 106873 | SH |  | SOLE |  | 0 | 0 | 106873 |
| ISHARES TR | MRNING SM CP ETF | 464288703 | BBG001SBRKG1 | 649137 | 10574 | SH |  | SOLE |  | 0 | 0 | 10574 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 | BBG0025X2WP7 | 680046 | 8090 | SH |  | SOLE |  | 0 | 0 | 8090 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 | BBG0025X2G81 | 1824367 | 19435 | SH |  | SOLE |  | 0 | 0 | 19435 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 | BBG004TRTWW3 | 275971 | 1510 | SH |  | SOLE |  | 0 | 0 | 1510 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 | BBG001SZV978 | 12166487 | 116448 | SH |  | SOLE |  | 0 | 0 | 116448 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 | BBG001S56320 | 392313 | 924 | SH |  | SOLE |  | 0 | 0 | 924 |
| ISHARES TR | SHORT TREAS BD | 464288679 | BBG001SSD803 | 748428 | 6778 | SH |  | SOLE |  | 0 | 0 | 6778 |
| ISHARES TR | TIPS BD ETF | 464287176 | BBG001SD9RM5 | 204015 | 1854 | SH |  | SOLE |  | 0 | 0 | 1854 |
| ISHARES TR | U.S. FIN SVC ETF | 464287770 | BBG001SFGXS3 | 250894 | 2931 | SH |  | SOLE |  | 0 | 0 | 2931 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 337843 | 2212 | SH |  | SOLE |  | 0 | 0 | 2212 |
| JPMORGAN CHASE  CO. | COM | 46625H100 | BBG001S8CRC3 | 2119719 | 7312 | SH |  | SOLE |  | 0 | 0 | 7312 |
| KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 | BBG001T9BTS0 | 454817 | 10283 | SH |  | SOLE |  | 0 | 0 | 10283 |
| LINDBLAD EXPEDITIONS HLDGS I | COM | 535219109 | BBG004MDWKT7 | 10974608 | 940412 | SH |  | SOLE |  | 0 | 0 | 940412 |
| LIVEWIRE GROUP INC | *W EXP 09/26/202 | 53838J113 |  | 587 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| LOWES COS INC | COM | 548661107 | BBG001S5SVL3 | 402694 | 1815 | SH |  | SOLE |  | 0 | 0 | 1815 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG001SKNNS6 | 664213 | 1182 | SH |  | SOLE |  | 0 | 0 | 1182 |
| MCKESSON CORP | COM | 58155Q103 | BBG001S8F8P8 | 1117847 | 1525 | SH |  | SOLE |  | 0 | 0 | 1525 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 337755 | 4267 | SH |  | SOLE |  | 0 | 0 | 4267 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 968122 | 1312 | SH |  | SOLE |  | 0 | 0 | 1312 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 2884407 | 5799 | SH |  | SOLE |  | 0 | 0 | 5799 |
| MICROSTRATEGY INC | CL A NEW | 594972408 | BBG001SC7PX1 | 409485 | 1013 | SH |  | SOLE |  | 0 | 0 | 1013 |
| NETFLIX INC | COM | 64110L106 | BBG001SF6L46 | 257112 | 192 | SH |  | SOLE |  | 0 | 0 | 192 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 2901225 | 18363 | SH |  | SOLE |  | 0 | 0 | 18363 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 248379 | 1136 | SH |  | SOLE |  | 0 | 0 | 1136 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 | BBG001S78TL6 | 271743 | 3015 | SH |  | SOLE |  | 0 | 0 | 3015 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 630836 | 4777 | SH |  | SOLE |  | 0 | 0 | 4777 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 510308 | 3203 | SH |  | SOLE |  | 0 | 0 | 3203 |
| PROGRESSIVE CORP | COM | 743315103 | BBG001S5V509 | 253254 | 949 | SH |  | SOLE |  | 0 | 0 | 949 |
| PROLOGIS INC. | COM | 74340W103 | BBG001S5NMN6 | 457277 | 4351 | SH |  | SOLE |  | 0 | 0 | 4351 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 349253 | 2392 | SH |  | SOLE |  | 0 | 0 | 2392 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 | BBG001T5XQY3 | 16492922 | 746286 | SH |  | SOLE |  | 0 | 0 | 746286 |
| SCHWAB STRATEGIC TR | INTL SCEQT ETF | 808524888 | BBG001T6L7C0 | 266484 | 6257 | SH |  | SOLE |  | 0 | 0 | 6257 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 | BBG001T9F795 | 11484310 | 471055 | SH |  | SOLE |  | 0 | 0 | 471055 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 | BBG001WBMLH8 | 203627 | 8762 | SH |  | SOLE |  | 0 | 0 | 8762 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 | BBG001T5XQT9 | 469551 | 19705 | SH |  | SOLE |  | 0 | 0 | 19705 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 | BBG001T66WN0 | 25615808 | 876953 | SH |  | SOLE |  | 0 | 0 | 876953 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 | BBG001T66WQ7 | 28488864 | 1029594 | SH |  | SOLE |  | 0 | 0 | 1029594 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 | BBG001T5XQV6 | 18767709 | 767910 | SH |  | SOLE |  | 0 | 0 | 767910 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 | BBG001V036R6 | 7532522 | 268540 | SH |  | SOLE |  | 0 | 0 | 268540 |
| SCHWAB STRATEGIC TR | US REIT ETF | 808524847 | BBG001V039G2 | 1730542 | 81784 | SH |  | SOLE |  | 0 | 0 | 81784 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 | BBG001T5XQW5 | 6511955 | 257390 | SH |  | SOLE |  | 0 | 0 | 257390 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | BBG001S7T223 | 352591 | 6733 | SH |  | SOLE |  | 0 | 0 | 6733 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | BBG001S7SCQ6 | 207023 | 1536 | SH |  | SOLE |  | 0 | 0 | 1536 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 | BBG001S7TD56 | 219420 | 2687 | SH |  | SOLE |  | 0 | 0 | 2687 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | BBG001S7TCZ5 | 1921255 | 7587 | SH |  | SOLE |  | 0 | 0 | 7587 |
| SOUTHSTATE CORPORATION | COM | 840441109 | BBG001S9J7Z3 | 432875 | 4704 | SH |  | SOLE |  | 0 | 0 | 4704 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 | BBG001S8LH99 | 276279 | 627 | SH |  | SOLE |  | 0 | 0 | 627 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 233500 | 766 | SH |  | SOLE |  | 0 | 0 | 766 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 3065154 | 4961 | SH |  | SOLE |  | 0 | 0 | 4961 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 | BBG001S63NQ1 | 397669 | 702 | SH |  | SOLE |  | 0 | 0 | 702 |
| SPDR SERIES TRUST | PORTFLI INTRMDIT | 78464A672 | BBG001STKCX8 | 31646288 | 1099975 | SH |  | SOLE |  | 0 | 0 | 1099975 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 | BBG001SPTBP8 | 1065889 | 7853 | SH |  | SOLE |  | 0 | 0 | 7853 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 | BBG004DF1DW8 | 1612819 | 38779 | SH |  | SOLE |  | 0 | 0 | 38779 |
| STRYKER CORPORATION | COM | 863667101 | BBG001S8FR03 | 689979 | 1744 | SH |  | SOLE |  | 0 | 0 | 1744 |
| TESLA INC | COM | 88160R101 | BBG001SQKGD7 | 263659 | 830 | SH |  | SOLE |  | 0 | 0 | 830 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 307158 | 1335 | SH |  | SOLE |  | 0 | 0 | 1335 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 404627 | 1297 | SH |  | SOLE |  | 0 | 0 | 1297 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 | BBG001TC6MF8 | 500830 | 1263 | SH |  | SOLE |  | 0 | 0 | 1263 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 | BBG001SK7DK4 | 224283 | 3046 | SH |  | SOLE |  | 0 | 0 | 3046 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 | BBG001SHTTS4 | 21387562 | 48785 | SH |  | SOLE |  | 0 | 0 | 48785 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 | BBG001SHTTQ6 | 5643579 | 19781 | SH |  | SOLE |  | 0 | 0 | 19781 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 | BBG001SRN7S6 | 16987196 | 59732 | SH |  | SOLE |  | 0 | 0 | 59732 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 | BBG001SRN7W1 | 3562868 | 21664 | SH |  | SOLE |  | 0 | 0 | 21664 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 | BBG001SHVTS1 | 9467891 | 33834 | SH |  | SOLE |  | 0 | 0 | 33834 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 | BBG001SMD2X3 | 3501425 | 39315 | SH |  | SOLE |  | 0 | 0 | 39315 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 4923807 | 8668 | SH |  | SOLE |  | 0 | 0 | 8668 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 | BBG001SHVTR2 | 8047566 | 41267 | SH |  | SOLE |  | 0 | 0 | 41267 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 7983149 | 33687 | SH |  | SOLE |  | 0 | 0 | 33687 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 | BBG001SHTTW9 | 4694848 | 16953 | SH |  | SOLE |  | 0 | 0 | 16953 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | BBG001SHTB03 | 5752742 | 18929 | SH |  | SOLE |  | 0 | 0 | 18929 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 | BBG001SHVR78 | 11216025 | 63460 | SH |  | SOLE |  | 0 | 0 | 63460 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 | BBG001SP7T00 | 4511234 | 67111 | SH |  | SOLE |  | 0 | 0 | 67111 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 1168788 | 23631 | SH |  | SOLE |  | 0 | 0 | 23631 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 | BBG001T0SKD6 | 272812 | 2030 | SH |  | SOLE |  | 0 | 0 | 2030 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 | BBG003H12XS7 | 749776 | 14915 | SH |  | SOLE |  | 0 | 0 | 14915 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 | BBG009THVRX1 | 2698464 | 55037 | SH |  | SOLE |  | 0 | 0 | 55037 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 | BBG001T62KZ7 | 6242700 | 78524 | SH |  | SOLE |  | 0 | 0 | 78524 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 | BBG001TCH7W0 | 244099 | 2799 | SH |  | SOLE |  | 0 | 0 | 2799 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 1314903 | 6424 | SH |  | SOLE |  | 0 | 0 | 6424 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 | BBG001SSPWL4 | 9227923 | 161865 | SH |  | SOLE |  | 0 | 0 | 161865 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 | BBG001SS0V24 | 1378046 | 10338 | SH |  | SOLE |  | 0 | 0 | 10338 |
| VANGUARD WORLD FD | ENERGY ETF | 92204A306 | BBG001SHTV45 | 261826 | 2198 | SH |  | SOLE |  | 0 | 0 | 2198 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 | BBG00M0P2SP4 | 223994 | 2043 | SH |  | SOLE |  | 0 | 0 | 2043 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 | BBG001SHTTM0 | 400996 | 3150 | SH |  | SOLE |  | 0 | 0 | 3150 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 | BBG001SHTTR5 | 1307959 | 1971 | SH |  | SOLE |  | 0 | 0 | 1971 |
| VANGUARD WORLD FD | MEGA CAP INDEX | 921910873 | BBG001T0Y6Y7 | 22011472 | 97864 | SH |  | SOLE |  | 0 | 0 | 97864 |
| VANGUARD WORLD FD | MEGA CAP VAL ETF | 921910840 | BBG001T0Y6L1 | 78727774 | 600060 | SH |  | SOLE |  | 0 | 0 | 600060 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 | BBG001T0Y6W9 | 58778413 | 160522 | SH |  | SOLE |  | 0 | 0 | 160522 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 667139 | 1879 | SH |  | SOLE |  | 0 | 0 | 1879 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 460044 | 4705 | SH |  | SOLE |  | 0 | 0 | 4705 |
| WELLS FARGO CO NEW | COM | 949746101 | BBG001S5XF23 | 218060 | 2722 | SH |  | SOLE |  | 0 | 0 | 2722 |
| YUM BRANDS INC | COM | 988498101 | BBG001S7JQ30 | 366406 | 2473 | SH |  | SOLE |  | 0 | 0 | 2473 |

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