# EDGAR Filing Document

**Accession Number:** 0001387761
**File Stem:** 0001172661-23-000946
**Filing Date:** 2023-2
**Character Count:** 25446
**Document Hash:** 0692bcb194745f11686b3298135cacbc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-23-000946.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001172661-23-000946

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TWIN FOCUS CAPITAL PARTNERS, LLC
- **CENTRAL INDEX KEY:** 0001387761
- **IRS NUMBER:** 205022212
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15420
- **FILM NUMBER:** 23623949

**BUSINESS ADDRESS:**
- **STREET 1:** SEVENTY-FIVE PARK PLAZA
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116
- **BUSINESS PHONE:** 617-720-4500

**MAIL ADDRESS:**
- **STREET 1:** SEVENTY-FIVE PARK PLAZA
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02116

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** TWIN FOCUS CAPITAL PARTNERS LLC<br>**Address:** Seventy-five Park Plaza<br>Boston, MA 02116

**Form 13F File Number:** 028-15420

**CRD Number (if applicable):** 000140522

**SEC File Number (if applicable):** 801-66717

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:** Paul Karger<br>**Title:** Chief Compliance Officer<br>**Phone:** 617-720-4515

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

/s/ Paul Karger  Boston, MA  02-14-2023<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:** 221

**Form 13F Information Table Value Total:** $478880874

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 261081 | 2378 | SH |  | SOLE |  | 0 | 0 | 2378 |
| ABBVIE INC | COM | 00287Y109 |  | 512465 | 3171 | SH |  | SOLE |  | 0 | 0 | 3171 |
| ABRDN JAPAN EQUITY FUND INC | COM | 00306J109 |  | 95816 | 18147 | SH |  | SOLE |  | 0 | 0 | 18147 |
| ABRDN PLATINUM ETF TRUST | PHYSCL PLATM SHS | 003260106 |  | 601637 | 6060 | SH |  | SOLE |  | 0 | 0 | 6060 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 324744 | 1217 | SH |  | SOLE |  | 0 | 0 | 1217 |
| ACTIVISION BLIZZARD INC | COM | 00507V109 |  | 275963 | 3605 | SH |  | SOLE |  | 0 | 0 | 3605 |
| ADAM NAT RES FD INC | COM | 00548F105 |  | 335262 | 15379 | SH |  | SOLE |  | 0 | 0 | 15379 |
| ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 |  | 1441423 | 99135 | SH |  | SOLE |  | 0 | 0 | 99135 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 329799 | 980 | SH |  | SOLE |  | 0 | 0 | 980 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 587612 | 6660 | SH |  | SOLE |  | 0 | 0 | 6660 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 597774 | 6737 | SH |  | SOLE |  | 0 | 0 | 6737 |
| AMAZON COM INC | COM | 023135106 |  | 546756 | 6509 | SH |  | SOLE |  | 0 | 0 | 6509 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 357875 | 5659 | SH |  | SOLE |  | 0 | 0 | 5659 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 569268 | 2687 | SH |  | SOLE |  | 0 | 0 | 2687 |
| AMGEN INC | COM | 031162100 |  | 406304 | 1547 | SH |  | SOLE |  | 0 | 0 | 1547 |
| APPLE INC | COM | 037833100 |  | 10469432 | 80577 | SH |  | SOLE |  | 0 | 0 | 80577 |
| AT INC | COM | 00206R102 |  | 188169 | 10221 | SH |  | SOLE |  | 0 | 0 | 10221 |
| AUTODESK INC | COM | 052769106 |  | 387755 | 2075 | SH |  | SOLE |  | 0 | 0 | 2075 |
| BANK AMERICA CORP | COM | 060505104 |  | 629412 | 19004 | SH |  | SOLE |  | 0 | 0 | 19004 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 522659 | 1692 | SH |  | SOLE |  | 0 | 0 | 1692 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 468711 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BHP GROUP LTD | SPONSORED ADS | 088606108 |  | 221146 | 3564 | SH |  | SOLE |  | 0 | 0 | 3564 |
| BIOGEN INC | COM | 09062X103 |  | 263074 | 950 | SH |  | SOLE |  | 0 | 0 | 950 |
| BLACKROCK INC | COM | 09247X101 |  | 1559695 | 2201 | SH |  | SOLE |  | 0 | 0 | 2201 |
| BOEING CO | COM | 097023105 |  | 236589 | 1242 | SH |  | SOLE |  | 0 | 0 | 1242 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 414072 | 5755 | SH |  | SOLE |  | 0 | 0 | 5755 |
| BROADCOM INC | COM | 11135F101 |  | 395864 | 708 | SH |  | SOLE |  | 0 | 0 | 708 |
| CHEVRON CORP NEW | COM | 166764100 |  | 498982 | 2780 | SH |  | SOLE |  | 0 | 0 | 2780 |
| CHUBB LIMITED | COM | H1467J104 |  | 339945 | 1541 | SH |  | SOLE |  | 0 | 0 | 1541 |
| CISCO SYS INC | COM | 17275R102 |  | 213713 | 4486 | SH |  | SOLE |  | 0 | 0 | 4486 |
| CITIGROUP INC | COM NEW | 172967424 |  | 389159 | 8604 | SH |  | SOLE |  | 0 | 0 | 8604 |
| COCA COLA CO | COM | 191216100 |  | 318864 | 5013 | SH |  | SOLE |  | 0 | 0 | 5013 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 343475 | 9822 | SH |  | SOLE |  | 0 | 0 | 9822 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 257712 | 2184 | SH |  | SOLE |  | 0 | 0 | 2184 |
| CROWN CASTLE INC | COM | 22822V101 |  | 223535 | 1648 | SH |  | SOLE |  | 0 | 0 | 1648 |
| CVS HEALTH CORP | COM | 126650100 |  | 259534 | 2785 | SH |  | SOLE |  | 0 | 0 | 2785 |
| DEERE  CO | COM | 244199105 |  | 351154 | 819 | SH |  | SOLE |  | 0 | 0 | 819 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 3952057 | 98261 | SH |  | SOLE |  | 0 | 0 | 98261 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 114664 | 10067 | SH |  | SOLE |  | 0 | 0 | 10067 |
| EATON VANCE FLTING RATE INC | COM | 278279104 |  | 130862 | 11800 | SH |  | SOLE |  | 0 | 0 | 11800 |
| EATON VANCE SR FLTNG RTE TR | COM | 27828Q105 |  | 153160 | 14000 | SH |  | SOLE |  | 0 | 0 | 14000 |
| EATON VANCE TX ADV GLBL DIV | COM | 27828S101 |  | 212382 | 14065 | SH |  | SOLE |  | 0 | 0 | 14065 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 473628 | 4294 | SH |  | SOLE |  | 0 | 0 | 4294 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 216104 | 871 | SH |  | SOLE |  | 0 | 0 | 871 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 366494 | 4269 | SH |  | SOLE |  | 0 | 0 | 4269 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 325869 | 3281 | SH |  | SOLE |  | 0 | 0 | 3281 |
| GLOBAL X FDS | GLBL X MLP ETF | 37954Y343 |  | 615882 | 14916 | SH |  | SOLE |  | 0 | 0 | 14916 |
| GOLDMAN SACHS ETF TR | ACTIVEBETA US LG | 381430503 |  | 290284 | 3813 | SH |  | SOLE |  | 0 | 0 | 3813 |
| GRANITESHARES PLATINUM TR | SHS BEN INT | 38748T103 |  | 273000 | 26000 | SH |  | SOLE |  | 0 | 0 | 26000 |
| GREENLANE HLDGS INC | CL A NEW | 395330202 |  | 20484 | 71250 | SH |  | SOLE |  | 0 | 0 | 71250 |
| HARTFORD FDS EXCHANGE TRADED | LARGE CAP GRWT | 41653L883 |  | 862947 | 73200 | SH |  | SOLE |  | 0 | 0 | 73200 |
| HERZFELD CARIBBEAN BASIN FD | COM | 42804T106 |  | 45993 | 12498 | SH |  | SOLE |  | 0 | 0 | 12498 |
| HOME DEPOT INC | COM | 437076102 |  | 339234 | 1074 | SH |  | SOLE |  | 0 | 0 | 1074 |
| HUBSPOT INC | COM | 443573100 |  | 220028 | 761 | SH |  | SOLE |  | 0 | 0 | 761 |
| HUMANA INC | COM | 444859102 |  | 434849 | 849 | SH |  | SOLE |  | 0 | 0 | 849 |
| IDEXX LABS INC | COM | 45168D104 |  | 346766 | 850 | SH |  | SOLE |  | 0 | 0 | 850 |
| IMMUNOGEN INC | COM | 45253H101 |  | 465620 | 93875 | SH |  | SOLE |  | 0 | 0 | 93875 |
| INCYTE CORP | COM | 45337C102 |  | 203531 | 2534 | SH |  | SOLE |  | 0 | 0 | 2534 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 1946543 | 18974 | SH |  | SOLE |  | 0 | 0 | 18974 |
| INVESCO ACTIVELY MANAGED ETF | ULTRA SHRT DUR | 46090A887 |  | 791360 | 16000 | SH |  | SOLE |  | 0 | 0 | 16000 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 315270 | 2232 | SH |  | SOLE |  | 0 | 0 | 2232 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 359478 | 1350 | SH |  | SOLE |  | 0 | 0 | 1350 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 16266363 | 470262 | SH |  | SOLE |  | 0 | 0 | 470262 |
| ISHARES INC | ESG AWR MSCI EM | 46434G863 |  | 5802919 | 192980 | SH |  | SOLE |  | 0 | 0 | 192980 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 555397 | 10202 | SH |  | SOLE |  | 0 | 0 | 10202 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 11082163 | 237305 | SH |  | SOLE |  | 0 | 0 | 237305 |
| ISHARES S GSCI COMMODITY- | UNIT BEN INT | 46428R107 |  | 1016047 | 47859 | SH |  | SOLE |  | 0 | 0 | 47859 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 5593101 | 23122 | SH |  | SOLE |  | 0 | 0 | 23122 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 905600 | 32000 | SH |  | SOLE |  | 0 | 0 | 32000 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 308955 | 3226 | SH |  | SOLE |  | 0 | 0 | 3226 |
| ISHARES TR | EAFE SML CP ETF | 464288273 |  | 8277297 | 146553 | SH |  | SOLE |  | 0 | 0 | 146553 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 39388737 | 639013 | SH |  | SOLE |  | 0 | 0 | 639013 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 213655 | 3250 | SH |  | SOLE |  | 0 | 0 | 3250 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 232160 | 2735 | SH |  | SOLE |  | 0 | 0 | 2735 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 5216897 | 29920 | SH |  | SOLE |  | 0 | 0 | 29920 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 5473238 | 56431 | SH |  | SOLE |  | 0 | 0 | 56431 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 9566239 | 45441 | SH |  | SOLE |  | 0 | 0 | 45441 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 1230120 | 10200 | SH |  | SOLE |  | 0 | 0 | 10200 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 8689496 | 39376 | SH |  | SOLE |  | 0 | 0 | 39376 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 265100 | 5302 | SH |  | SOLE |  | 0 | 0 | 5302 |
| ISHARES TR | MORNINGSTAR GRWT | 464287119 |  | 2008293 | 41255 | SH |  | SOLE |  | 0 | 0 | 41255 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 9197071 | 157215 | SH |  | SOLE |  | 0 | 0 | 157215 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 449440 | 5300 | SH |  | SOLE |  | 0 | 0 | 5300 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 4650271 | 68944 | SH |  | SOLE |  | 0 | 0 | 68944 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 205542 | 4480 | SH |  | SOLE |  | 0 | 0 | 4480 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 237941 | 930 | SH |  | SOLE |  | 0 | 0 | 930 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 211558 | 3223 | SH |  | SOLE |  | 0 | 0 | 3223 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 15731293 | 149338 | SH |  | SOLE |  | 0 | 0 | 149338 |
| ISHARES TR | U.S. FINLS ETF | 464287788 |  | 301880 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 314799 | 2740 | SH |  | SOLE |  | 0 | 0 | 2740 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 490762 | 3738 | SH |  | SOLE |  | 0 | 0 | 3738 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 744380 | 16360 | SH |  | SOLE |  | 0 | 0 | 16360 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 6984795 | 65622 | SH |  | SOLE |  | 0 | 0 | 65622 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 614185 | 1765 | SH |  | SOLE |  | 0 | 0 | 1765 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 979755 | 6754 | SH |  | SOLE |  | 0 | 0 | 6754 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 425334 | 9100 | SH |  | SOLE |  | 0 | 0 | 9100 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 224730 | 1621 | SH |  | SOLE |  | 0 | 0 | 1621 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4086076 | 10635 | SH |  | SOLE |  | 0 | 0 | 10635 |
| ISHARES TR | EUROPE ETF | 464287861 |  | 1201061 | 26519 | SH |  | SOLE |  | 0 | 0 | 26519 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 3692071 | 24346 | SH |  | SOLE |  | 0 | 0 | 24346 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1937154 | 20469 | SH |  | SOLE |  | 0 | 0 | 20469 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 5934020 | 27698 | SH |  | SOLE |  | 0 | 0 | 27698 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 891261 | 23516 | SH |  | SOLE |  | 0 | 0 | 23516 |
| J P MORGAN EXCHANGE TRADED F | BETABUILDERS CDA | 46641Q225 |  | 355255 | 6201 | SH |  | SOLE |  | 0 | 0 | 6201 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 677629 | 3836 | SH |  | SOLE |  | 0 | 0 | 3836 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 216512 | 3383 | SH |  | SOLE |  | 0 | 0 | 3383 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 979601 | 7305 | SH |  | SOLE |  | 0 | 0 | 7305 |
| KRANESHARES TR | CALIFORNIA CARB | 500767553 |  | 328699 | 14150 | SH |  | SOLE |  | 0 | 0 | 14150 |
| LAM RESEARCH CORP | COM | 512807108 |  | 260586 | 620 | SH |  | SOLE |  | 0 | 0 | 620 |
| LILLY ELI  CO | COM | 532457108 |  | 435350 | 1190 | SH |  | SOLE |  | 0 | 0 | 1190 |
| LISTED FD TR | HORIZON KINETICS | 53656F623 |  | 11139135 | 353848 | SH |  | SOLE |  | 0 | 0 | 353848 |
| MARATHON PETE CORP | COM | 56585A102 |  | 287018 | 2466 | SH |  | SOLE |  | 0 | 0 | 2466 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 472519 | 2855 | SH |  | SOLE |  | 0 | 0 | 2855 |
| MCDONALDS CORP | COM | 580135101 |  | 523107 | 1985 | SH |  | SOLE |  | 0 | 0 | 1985 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 207046 | 2664 | SH |  | SOLE |  | 0 | 0 | 2664 |
| MERCK  CO INC | COM | 58933Y105 |  | 389989 | 3515 | SH |  | SOLE |  | 0 | 0 | 3515 |
| MICROSOFT CORP | COM | 594918104 |  | 1704050 | 7106 | SH |  | SOLE |  | 0 | 0 | 7106 |
| MONGODB INC | CL A | 60937P106 |  | 590520 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 272914 | 3210 | SH |  | SOLE |  | 0 | 0 | 3210 |
| NETFLIX INC | COM | 64110L106 |  | 326137 | 1106 | SH |  | SOLE |  | 0 | 0 | 1106 |
| NEW AMER HIGH INCOME FD INC | COM NEW | 641876800 |  | 317189 | 48059 | SH |  | SOLE |  | 0 | 0 | 48059 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 223379 | 2672 | SH |  | SOLE |  | 0 | 0 | 2672 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 255286 | 2814 | SH |  | SOLE |  | 0 | 0 | 2814 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 202604 | 1497 | SH |  | SOLE |  | 0 | 0 | 1497 |
| NUVEEN MASSACHUSETS QLT MUN | COM | 67061E104 |  | 166985 | 15798 | SH |  | SOLE |  | 0 | 0 | 15798 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1013627 | 6936 | SH |  | SOLE |  | 0 | 0 | 6936 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 220213 | 776 | SH |  | SOLE |  | 0 | 0 | 776 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 225356 | 267 | SH |  | SOLE |  | 0 | 0 | 267 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 252831 | 3550 | SH |  | SOLE |  | 0 | 0 | 3550 |
| PEPSICO INC | COM | 713448108 |  | 281468 | 1558 | SH |  | SOLE |  | 0 | 0 | 1558 |
| PFIZER INC | COM | 717081103 |  | 574195 | 11206 | SH |  | SOLE |  | 0 | 0 | 11206 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 201914 | 1995 | SH |  | SOLE |  | 0 | 0 | 1995 |
| PIONEER NAT RES CO | COM | 723787107 |  | 386893 | 1694 | SH |  | SOLE |  | 0 | 0 | 1694 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 229171 | 1451 | SH |  | SOLE |  | 0 | 0 | 1451 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 1944540 | 17830 | SH |  | SOLE |  | 0 | 0 | 17830 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 677872 | 4473 | SH |  | SOLE |  | 0 | 0 | 4473 |
| PROSHARES TR | SP500 EX ENRGY | 74347B581 |  | 234442 | 2900 | SH |  | SOLE |  | 0 | 0 | 2900 |
| PROSHARES TR | SHRT 20+YR TRE | 74347X849 |  | 662256 | 29200 | SH |  | SOLE |  | 0 | 0 | 29200 |
| PUTNAM MANAGED MUN INCOME TR | COM | 746823103 |  | 388688 | 61893 | SH |  | SOLE |  | 0 | 0 | 61893 |
| PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 |  | 339540 | 31294 | SH |  | SOLE |  | 0 | 0 | 31294 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 347871 | 3447 | SH |  | SOLE |  | 0 | 0 | 3447 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 334342 | 2592 | SH |  | SOLE |  | 0 | 0 | 2592 |
| ROYCE MICRO-CAP TR INC | COM | 780915104 |  | 539557 | 62161 | SH |  | SOLE |  | 0 | 0 | 62161 |
| SALESFORCE INC | COM | 79466L302 |  | 254615 | 1920 | SH |  | SOLE |  | 0 | 0 | 1920 |
| SAN JUAN BASIN RTY TR | UNIT BEN INT | 798241105 |  | 2508106 | 219624 | SH |  | SOLE |  | 0 | 0 | 219624 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 308640 | 6398 | SH |  | SOLE |  | 0 | 0 | 6398 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 214156 | 2835 | SH |  | SOLE |  | 0 | 0 | 2835 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 6227907 | 45844 | SH |  | SOLE |  | 0 | 0 | 45844 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 970042 | 11090 | SH |  | SOLE |  | 0 | 0 | 11090 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 9701858 | 137615 | SH |  | SOLE |  | 0 | 0 | 137615 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 5012034 | 67231 | SH |  | SOLE |  | 0 | 0 | 67231 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 739446 | 5942 | SH |  | SOLE |  | 0 | 0 | 5942 |
| SERVICENOW INC | COM | 81762P102 |  | 479125 | 1234 | SH |  | SOLE |  | 0 | 0 | 1234 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 13134377 | 77425 | SH |  | SOLE |  | 0 | 0 | 77425 |
| SPDR INDEX SHS FDS | S EMKTSC ETF | 78463X756 |  | 1373214 | 28059 | SH |  | SOLE |  | 0 | 0 | 28059 |
| SPDR INDEX SHS FDS | S CHINA ETF | 78463X400 |  | 1419178 | 18111 | SH |  | SOLE |  | 0 | 0 | 18111 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 11324135 | 29611 | SH |  | SOLE |  | 0 | 0 | 29611 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 3143139 | 25123 | SH |  | SOLE |  | 0 | 0 | 25123 |
| SPDR SER TR | BLOOMBERG HIGH Y | 78468R622 |  | 227340 | 2526 | SH |  | SOLE |  | 0 | 0 | 2526 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 502980 | 6060 | SH |  | SOLE |  | 0 | 0 | 6060 |
| SPDR SER TR | NUVEEN BLMBRG MU | 78468R721 |  | 214825 | 4709 | SH |  | SOLE |  | 0 | 0 | 4709 |
| SPDR SER TR | OILGAS EQUIP | 78468R549 |  | 366451 | 4595 | SH |  | SOLE |  | 0 | 0 | 4595 |
| SPDR SER TR | PRTFLO S VL | 78464A508 |  | 588017 | 15120 | SH |  | SOLE |  | 0 | 0 | 15120 |
| SPDR SER TR | PORTFOLIO S | 78464A847 |  | 612000 | 14400 | SH |  | SOLE |  | 0 | 0 | 14400 |
| SPDR SER TR | S OILGAS EXP | 78468R556 |  | 5726798 | 42146 | SH |  | SOLE |  | 0 | 0 | 42146 |
| SPDR SER TR | PRTFLO S GW | 78464A409 |  | 8342816 | 164650 | SH |  | SOLE |  | 0 | 0 | 164650 |
| SPROTT PHYSICAL GOLD  SILVE | TR UNIT | 85208R101 |  | 902686 | 50345 | SH |  | SOLE |  | 0 | 0 | 50345 |
| SRH TOTAL RETURN FUND INC | COM | 101507101 |  | 698741 | 55019 | SH |  | SOLE |  | 0 | 0 | 55019 |
| STARBUCKS CORP | COM | 855244109 |  | 221514 | 2233 | SH |  | SOLE |  | 0 | 0 | 2233 |
| SUMITOMO MITSUI FINL GROUP I | SPONSORED ADR | 86562M209 |  | 102776 | 12815 | SH |  | SOLE |  | 0 | 0 | 12815 |
| TEGNA INC | COM | 87901J105 |  | 321643 | 15179 | SH |  | SOLE |  | 0 | 0 | 15179 |
| TEXAS INSTRS INC | COM | 882508104 |  | 309127 | 1871 | SH |  | SOLE |  | 0 | 0 | 1871 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 395395 | 718 | SH |  | SOLE |  | 0 | 0 | 718 |
| TJX COS INC NEW | COM | 872540109 |  | 231587 | 2909 | SH |  | SOLE |  | 0 | 0 | 2909 |
| TOYOTA MOTOR CORP | ADS | 892331307 |  | 400862 | 2935 | SH |  | SOLE |  | 0 | 0 | 2935 |
| TRI CONTL CORP | COM | 895436103 |  | 243485 | 9500 | SH |  | SOLE |  | 0 | 0 | 9500 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 313379 | 12672 | SH |  | SOLE |  | 0 | 0 | 12672 |
| UNION PAC CORP | COM | 907818108 |  | 384115 | 1855 | SH |  | SOLE |  | 0 | 0 | 1855 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 830262 | 1566 | SH |  | SOLE |  | 0 | 0 | 1566 |
| US BANCORP DEL | COM NEW | 902973304 |  | 222411 | 5100 | SH |  | SOLE |  | 0 | 0 | 5100 |
| VANECK ETF TRUST | VANECK VIETNAM | 92189F817 |  | 494476 | 41763 | SH |  | SOLE |  | 0 | 0 | 41763 |
| VANECK ETF TRUST | AGRIBUSINESS ETF | 92189F700 |  | 240352 | 2800 | SH |  | SOLE |  | 0 | 0 | 2800 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 985904 | 34400 | SH |  | SOLE |  | 0 | 0 | 34400 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 266542 | 5620 | SH |  | SOLE |  | 0 | 0 | 5620 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 5015131 | 37747 | SH |  | SOLE |  | 0 | 0 | 37747 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 9986293 | 28423 | SH |  | SOLE |  | 0 | 0 | 28423 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 4332235 | 20329 | SH |  | SOLE |  | 0 | 0 | 20329 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 39198684 | 205025 | SH |  | SOLE |  | 0 | 0 | 205025 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 2659590 | 18947 | SH |  | SOLE |  | 0 | 0 | 18947 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1064944 | 5802 | SH |  | SOLE |  | 0 | 0 | 5802 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 293780 | 1850 | SH |  | SOLE |  | 0 | 0 | 1850 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 4125056 | 23680 | SH |  | SOLE |  | 0 | 0 | 23680 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1641590 | 8055 | SH |  | SOLE |  | 0 | 0 | 8055 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 4583020 | 33888 | SH |  | SOLE |  | 0 | 0 | 33888 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 5764981 | 114978 | SH |  | SOLE |  | 0 | 0 | 114978 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 7897392 | 202601 | SH |  | SOLE |  | 0 | 0 | 202601 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 2864142 | 33231 | SH |  | SOLE |  | 0 | 0 | 33231 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 |  | 5642323 | 54881 | SH |  | SOLE |  | 0 | 0 | 54881 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 17758485 | 380186 | SH |  | SOLE |  | 0 | 0 | 380186 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 1300712 | 17299 | SH |  | SOLE |  | 0 | 0 | 17299 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 6361148 | 41891 | SH |  | SOLE |  | 0 | 0 | 41891 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 1129513 | 21839 | SH |  | SOLE |  | 0 | 0 | 21839 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 5237003 | 124780 | SH |  | SOLE |  | 0 | 0 | 124780 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 1329360 | 12285 | SH |  | SOLE |  | 0 | 0 | 12285 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 254150 | 3650 | SH |  | SOLE |  | 0 | 0 | 3650 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 809341 | 12289 | SH |  | SOLE |  | 0 | 0 | 12289 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 442258 | 8991 | SH |  | SOLE |  | 0 | 0 | 8991 |
| VANGUARD WORLD FDS | INF TECH ETF | 92204A702 |  | 314299 | 984 | SH |  | SOLE |  | 0 | 0 | 984 |
| VANGUARD WORLD FDS | HEALTH CAR ETF | 92204A504 |  | 4557919 | 18375 | SH |  | SOLE |  | 0 | 0 | 18375 |
| VANGUARD WORLD FDS | ENERGY ETF | 92204A306 |  | 2546880 | 21000 | SH |  | SOLE |  | 0 | 0 | 21000 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 324011 | 1122 | SH |  | SOLE |  | 0 | 0 | 1122 |
| VISA INC | COM CL A | 92826C839 |  | 413858 | 1992 | SH |  | SOLE |  | 0 | 0 | 1992 |
| VMWARE INC | CL A COM | 928563402 |  | 5600188 | 45619 | SH |  | SOLE |  | 0 | 0 | 45619 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 1302442 | 558988 | SH |  | SOLE |  | 0 | 0 | 558988 |
| VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 |  | 61920 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| WALMART INC | COM | 931142103 |  | 271154 | 1912 | SH |  | SOLE |  | 0 | 0 | 1912 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 316116 | 7656 | SH |  | SOLE |  | 0 | 0 | 7656 |
| WESTERN AST INFL LKD OPP  I | COM | 95766R104 |  | 512266 | 56108 | SH |  | SOLE |  | 0 | 0 | 56108 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 291539 | 4830 | SH |  | SOLE |  | 0 | 0 | 4830 |
| WM TECHNOLOGY INC | COM | 92971A109 |  | 1017020 | 1006950 | SH |  | SOLE |  | 0 | 0 | 1006950 |
| WORKDAY INC | CL A | 98138H101 |  | 247314 | 1478 | SH |  | SOLE |  | 0 | 0 | 1478 |

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