# EDGAR Filing Document

**Accession Number:** 0001608057
**File Stem:** 0001608057-25-000010
**Filing Date:** 2025-10
**Character Count:** 25274
**Document Hash:** 763953ece215c9ad3da50d6f9347e315
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001608057-25-000010.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0001608057-25-000010

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**EFFECTIVENESS DATE**: 20251015

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Curbstone Financial Management Corp
- **CENTRAL INDEX KEY:** 0001608057

**ORGANIZATION NAME:**
- **EIN:** 020367417
- **STATE OF INCORPORATION:** NH
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16150
- **FILM NUMBER:** 251394703

**BUSINESS ADDRESS:**
- **STREET 1:** 741 CHESTNUT STREET
- **CITY:** MANCHESTER
- **STATE:** NH
- **ZIP:** 03104
- **BUSINESS PHONE:** 603-624-8462

**MAIL ADDRESS:**
- **STREET 1:** 741 CHESTNUT STREET
- **CITY:** MANCHESTER
- **STATE:** NH
- **ZIP:** 03104

### 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:** Curbstone Financial Management Corp<br>**Address:** 741 CHESTNUT STREET<br>MANCHESTER, NH 03104

**Form 13F File Number:** 028-16150

**CRD Number (if applicable):** 000013348

**SEC File Number (if applicable):** 801-67354

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:** Thomas M. Lewry<br>**Title:** President<br>**Phone:** 603-624-8462

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

Thomas M. Lewry  Manhester, NH  10-15-2025<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:** 209

**Form 13F Information Table Value Total:** $520141508

      (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 |
| Barings Corporate Investors (M | BDFUND | 06759x107 |  | 6114526 | 294534 | SH |  | SOLE |  | 147267 | 0 | 147267 |
| Barings Participation Investor | BDFUND | 06761a103 |  | 966515 | 47966 | SH |  | SOLE |  | 23983 | 0 | 23983 |
| IShares 0-5 Year TIPS ETF (STI | BDFUND | 46429b747 |  | 1142128 | 11050 | SH |  | SOLE |  | 5525 | 0 | 5525 |
| IShares Nat'l Muni Bond ETF (M | BDFUND | 464288414 |  | 4130960 | 38792 | SH |  | SOLE |  | 19396 | 0 | 19396 |
| IShares Short Term Nat'l Muni | BDFUND | 464288158 |  | 4048030 | 37910 | SH |  | SOLE |  | 18955 | 0 | 18955 |
| IShares TIPS ETF (TIP) | BDFUND | 464287176 |  | 5817280 | 52304 | SH |  | SOLE |  | 26152 | 0 | 26152 |
| Invesco Bulletshares 2025 Corp | BDFUND | 46138j825 |  | 1067935 | 51616 | SH |  | SOLE |  | 25808 | 0 | 25808 |
| JPMorgan UltraShort Muni Incom | BDFUND | 46641q654 |  | 421080 | 8250 | SH |  | SOLE |  | 4125 | 0 | 4125 |
| SPDR Bloomberg Inter Floating | BDFUND | 78468r200 |  | 37092979 | 1201976 | SH |  | SOLE |  | 600988 | 0 | 600988 |
| SPDR Intermediate Corp Bond ET | BDFUND | 78464a375 |  | 416847 | 12300 | SH |  | SOLE |  | 6150 | 0 | 6150 |
| Schwab US Aggregate Bond ETF ( | BDFUND | 808524839 |  | 3137939 | 133700 | SH |  | SOLE |  | 66850 | 0 | 66850 |
| Schwab US TIPS ETF (SCHP) | BDFUND | 808524870 |  | 5111606 | 189670 | SH |  | SOLE |  | 94835 | 0 | 94835 |
| Vanguard Intermediate Corp ETF | BDFUND | 92206c870 |  | 8417897 | 100082 | SH |  | SOLE |  | 50041 | 0 | 50041 |
| Vanguard Muni Bond Tax Exempt | BDFUND | 922907746 |  | 503203 | 10050 | SH |  | SOLE |  | 5025 | 0 | 5025 |
| Vanguard Short Ter Corp Bd ETF | BDFUND | 92206c409 |  | 16306999 | 204016 | SH |  | SOLE |  | 102008 | 0 | 102008 |
| iShares 1-5 Yr Inv Grade Corp | BDFUND | 464288646 |  | 3388087 | 63890 | SH |  | SOLE |  | 31945 | 0 | 31945 |
| iShares Intrm Govt/Credit Bond | BDFUND | 464288612 |  | 531813 | 4950 | SH |  | SOLE |  | 2475 | 0 | 2475 |
| iShares Muni Bd 2026 (IBMO) | BDFUND | 46435u259 |  | 400809 | 15620 | SH |  | SOLE |  | 7810 | 0 | 7810 |
| iShares Muni Bd 2027 (IBMP) | BDFUND | 46435u283 |  | 551788 | 21660 | SH |  | SOLE |  | 10830 | 0 | 10830 |
| iShares Muni Bd 2028 (IBMQ) | BDFUND | 46435u325 |  | 480750 | 18750 | SH |  | SOLE |  | 9375 | 0 | 9375 |
| iShares Muni Bd 2029 (IBMR) | BDFUND | 46436e163 |  | 823853 | 32270 | SH |  | SOLE |  | 16135 | 0 | 16135 |
| Charles Schwab US REIT (SCHH) | REIT | 808524847 |  | 1064091 | 49332 | SH |  | SOLE |  | 24666 | 0 | 24666 |
| Vanguard Real Estate ETF (VNQ) | REIT | 922908553 |  | 883483 | 9664 | SH |  | SOLE |  | 4832 | 0 | 4832 |
| Weyerhauser (WY) | REIT | 962166104 |  | 1552350 | 62620 | SH |  | SOLE |  | 31310 | 0 | 31310 |
| 3M CO (MMM) | COM | 88579y101 |  | 856283 | 5518 | SH |  | SOLE |  | 2759 | 0 | 2759 |
| AFLAC INC (AFL) | COM | 001055102 |  | 1211945 | 10850 | SH |  | SOLE |  | 5425 | 0 | 5425 |
| AMCOR PLC F (AMCR) | COM | g0250x107 |  | 488902 | 59768 | SH |  | SOLE |  | 29884 | 0 | 29884 |
| AT INC | COM | 00206r102 |  | 620207 | 21962 | SH |  | SOLE |  | 10981 | 0 | 10981 |
| Abbott Labs (ABT) | COM | 002824100 |  | 3110623 | 23224 | SH |  | SOLE |  | 11612 | 0 | 11612 |
| Abbvie Inc (ABBV) | COM | 00287y109 |  | 2562338 | 11067 | SH |  | SOLE |  | 5533 | 0 | 5533 |
| Accenture PLC Ireland Class A | COM | g1151c101 |  | 470513 | 1908 | SH |  | SOLE |  | 954 | 0 | 954 |
| Advanced Micro Devices (AMD) | COM | 007903107 |  | 544014 | 3362 | SH |  | SOLE |  | 1681 | 0 | 1681 |
| Aerovironment (AVAV) | COM | 008073108 |  | 2367973 | 7520 | SH |  | SOLE |  | 3760 | 0 | 3760 |
| Agilysys (AGYS) | COM | 00847j105 |  | 413632 | 3930 | SH |  | SOLE |  | 1965 | 0 | 1965 |
| Air Products  Chemicals (APD) | COM | 009158106 |  | 493623 | 1810 | SH |  | SOLE |  | 905 | 0 | 905 |
| Airborn Wireless (ABWN) | COM | 00928l300 |  | 0 | 18021394 | SH |  | SOLE |  | 9010697 | 0 | 9010697 |
| Alphabet Inc Class A (GOOGL) | COM | 02079k305 |  | 2257822 | 9288 | SH |  | SOLE |  | 4644 | 0 | 4644 |
| Alphabet Inc Class C (GOOG) | COM | 02079k107 |  | 9263375 | 38035 | SH |  | SOLE |  | 19017 | 0 | 19017 |
| Amazon Inc (AMZN) | COM | 023135106 |  | 7825935 | 35642 | SH |  | SOLE |  | 17821 | 0 | 17821 |
| Amgen Inc (AMGN) | COM | 031162100 |  | 565529 | 2004 | SH |  | SOLE |  | 1002 | 0 | 1002 |
| Amplify Cybersecurity ETF (HAC | COM | 032108664 |  | 2460780 | 28350 | SH |  | SOLE |  | 14175 | 0 | 14175 |
| Analog Devices (ADI) | COM | 032654105 |  | 531695 | 2164 | SH |  | SOLE |  | 1082 | 0 | 1082 |
| Appfolio Cl A (APPF) | COM | 03783C100 |  | 702933 | 2550 | SH |  | SOLE |  | 1275 | 0 | 1275 |
| Apple Inc (AAPL) | COM | 037833100 |  | 15945627 | 62623 | SH |  | SOLE |  | 31311 | 0 | 31311 |
| Autodesk Inc (ADSK) | COM | 052769106 |  | 2446059 | 7700 | SH |  | SOLE |  | 3850 | 0 | 3850 |
| Automatic Data Processing (ADP | COM | 053015103 |  | 1405865 | 4790 | SH |  | SOLE |  | 2395 | 0 | 2395 |
| BWX Technologies Inc (BWXT) | COM | 05605h100 |  | 645295 | 3500 | SH |  | SOLE |  | 1750 | 0 | 1750 |
| Bank Montreal (BMO) | COM | 063671101 |  | 1801878 | 13834 | SH |  | SOLE |  | 6917 | 0 | 6917 |
| Bank New York Mellon (BK) | COM | 064058100 |  | 1024224 | 9400 | SH |  | SOLE |  | 4700 | 0 | 4700 |
| Bank of America (BAC) | COM | 060505104 |  | 1509111 | 29252 | SH |  | SOLE |  | 14626 | 0 | 14626 |
| Berkshire Hathaway B (BRKB) | COM | 084670702 |  | 4136545 | 8228 | SH |  | SOLE |  | 4114 | 0 | 4114 |
| Blackstone Inc (BX) | COM | 09260d107 |  | 1154604 | 6758 | SH |  | SOLE |  | 3379 | 0 | 3379 |
| Bloom Energy Cl A (BE) | COM | 093712107 |  | 499470 | 5906 | SH |  | SOLE |  | 2953 | 0 | 2953 |
| Boeing Co (BA) | COM | 097023105 |  | 527920 | 2446 | SH |  | SOLE |  | 1223 | 0 | 1223 |
| Bristol Myers (BMY) | COM | 110122108 |  | 879179 | 19494 | SH |  | SOLE |  | 9747 | 0 | 9747 |
| Broadcom Inc (AVGO) | COM | 11135f101 |  | 1840897 | 5580 | SH |  | SOLE |  | 2790 | 0 | 2790 |
| CSG Systems (CSGS) | COM | 126349109 |  | 1198756 | 18620 | SH |  | SOLE |  | 9310 | 0 | 9310 |
| CVS Health Corp (CVS) | COM | 126650100 |  | 1118184 | 14832 | SH |  | SOLE |  | 7416 | 0 | 7416 |
| Carrier Global Corp (CARR) | COM | 14448c104 |  | 1259551 | 21098 | SH |  | SOLE |  | 10549 | 0 | 10549 |
| Caterpillar Inc (CAT) | COM | 149123101 |  | 583077 | 1222 | SH |  | SOLE |  | 611 | 0 | 611 |
| Check Point Software (CHKP) | COM | m22465104 |  | 3430154 | 16578 | SH |  | SOLE |  | 8289 | 0 | 8289 |
| Chevron Corp (CVX) | COM | 166764100 |  | 2107285 | 13570 | SH |  | SOLE |  | 6785 | 0 | 6785 |
| Chewy Cl A (CHWY) | COM | 16679l109 |  | 782303 | 19340 | SH |  | SOLE |  | 9670 | 0 | 9670 |
| Cincinnati Financial (CINF) | COM | 172062101 |  | 592875 | 3750 | SH |  | SOLE |  | 1875 | 0 | 1875 |
| Cisco Systems (CSCO) | COM | 17275r102 |  | 5176657 | 75660 | SH |  | SOLE |  | 37830 | 0 | 37830 |
| Coca-Cola (KO) | COM | 191216100 |  | 1690895 | 25496 | SH |  | SOLE |  | 12748 | 0 | 12748 |
| Colgate Palmolive (CL) | COM | 194162103 |  | 1350187 | 16890 | SH |  | SOLE |  | 8445 | 0 | 8445 |
| Comcast Cl A (CMCSA) | COM | 20030n101 |  | 1250642 | 39804 | SH |  | SOLE |  | 19902 | 0 | 19902 |
| Corcept Therapeutics (CORT) | COM | 218352102 |  | 1136945 | 13680 | SH |  | SOLE |  | 6840 | 0 | 6840 |
| Corning Inc (GLW) | COM | 219350105 |  | 554523 | 6760 | SH |  | SOLE |  | 3380 | 0 | 3380 |
| Costco (COST) | COM | 22160k105 |  | 779380 | 842 | SH |  | SOLE |  | 421 | 0 | 421 |
| Crowdstrike Hldgs Inc Cl A (CR | COM | 22788c105 |  | 533533 | 1088 | SH |  | SOLE |  | 544 | 0 | 544 |
| Danaher Corp (DHR) | COM | 235851102 |  | 875516 | 4416 | SH |  | SOLE |  | 2208 | 0 | 2208 |
| Deere  Co (DE) | COM | 244199105 |  | 474636 | 1038 | SH |  | SOLE |  | 519 | 0 | 519 |
| Eaton Corporation PLC (ETN) | COM | g29183103 |  | 749997 | 2004 | SH |  | SOLE |  | 1002 | 0 | 1002 |
| Electronic Arts (EA) | COM | 285512109 |  | 504250 | 2500 | SH |  | SOLE |  | 1250 | 0 | 1250 |
| Eli Lilly (LLY) | COM | 532457108 |  | 2826152 | 3704 | SH |  | SOLE |  | 1852 | 0 | 1852 |
| Emerson Electric Co (EMR) | COM | 291011104 |  | 555154 | 4232 | SH |  | SOLE |  | 2116 | 0 | 2116 |
| Exxon Mobil Corp (XOM) | COM | 30231g102 |  | 4613504 | 40918 | SH |  | SOLE |  | 20459 | 0 | 20459 |
| Fair Isaac Corp (FICO) | COM | 303250104 |  | 520792 | 348 | SH |  | SOLE |  | 174 | 0 | 174 |
| Fastenal Co (FAST) | COM | 311900104 |  | 1280631 | 26114 | SH |  | SOLE |  | 13057 | 0 | 13057 |
| GE Aerospace (GE) | COM | 369604301 |  | 1282095 | 4262 | SH |  | SOLE |  | 2131 | 0 | 2131 |
| GE Vernova Inc (GEV) | COM | 36828a101 |  | 821506 | 1336 | SH |  | SOLE |  | 668 | 0 | 668 |
| Garmin Ltd (GRMN) | COM | h2906t109 |  | 1006055 | 4086 | SH |  | SOLE |  | 2043 | 0 | 2043 |
| General Dynamics Corp (GD) | COM | 369550108 |  | 519002 | 1522 | SH |  | SOLE |  | 761 | 0 | 761 |
| General Mills Inc (GIS) | COM | 370334104 |  | 423730 | 8404 | SH |  | SOLE |  | 4202 | 0 | 4202 |
| General Motors Co (GM) | COM | 37045v100 |  | 961131 | 15764 | SH |  | SOLE |  | 7882 | 0 | 7882 |
| Gilead Sciences Inc (GILD) | COM | 375558103 |  | 437340 | 3940 | SH |  | SOLE |  | 1970 | 0 | 1970 |
| Globalstar Inc (GSAT) | COM | 378973507 |  | 917028 | 25200 | SH |  | SOLE |  | 12600 | 0 | 12600 |
| Hamilton Beach Brands Class A | COM | 40701t104 |  | 1967224 | 136898 | SH |  | SOLE |  | 68449 | 0 | 68449 |
| Hologic Inc (HOLX) | COM | 436440101 |  | 1525004 | 22596 | SH |  | SOLE |  | 11298 | 0 | 11298 |
| Home Depot Inc (HD) | COM | 437076102 |  | 2645891 | 6530 | SH |  | SOLE |  | 3265 | 0 | 3265 |
| Honeywell International Inc (H | COM | 438516106 |  | 2216565 | 10530 | SH |  | SOLE |  | 5265 | 0 | 5265 |
| Hormel Foods Corp (HRL) | COM | 440452100 |  | 491118 | 19851 | SH |  | SOLE |  | 9926 | 0 | 9926 |
| Hyster-Yale Inc (HY) | COM | 449172105 |  | 2708841 | 73490 | SH |  | SOLE |  | 36745 | 0 | 36745 |
| IBM Corp (IBM) | COM | 459200101 |  | 1018033 | 3608 | SH |  | SOLE |  | 1804 | 0 | 1804 |
| Illinois Tool Works (ITW) | COM | 452308109 |  | 1419577 | 5444 | SH |  | SOLE |  | 2722 | 0 | 2722 |
| Ingredion (INGR) | COM | 457187102 |  | 476229 | 3900 | SH |  | SOLE |  | 1950 | 0 | 1950 |
| Insulet Corp (PODD) | COM | 45784p101 |  | 544600 | 1764 | SH |  | SOLE |  | 882 | 0 | 882 |
| Intel Corp (INTC) | COM | 458140100 |  | 1495104 | 44563 | SH |  | SOLE |  | 22282 | 0 | 22282 |
| Interparfums (IPAR) | COM | 458334109 |  | 417131 | 4240 | SH |  | SOLE |  | 2120 | 0 | 2120 |
| Invesco Water Resources ETF (P | COM | 46137v142 |  | 1925337 | 26700 | SH |  | SOLE |  | 13350 | 0 | 13350 |
| JP Morgan Chase  Co (JPM) | COM | 46625h100 |  | 6843569 | 21696 | SH |  | SOLE |  | 10848 | 0 | 10848 |
| Johnson  Johnson (JNJ) | COM | 478160104 |  | 4804601 | 25912 | SH |  | SOLE |  | 12956 | 0 | 12956 |
| KKR  Co (KKR) | COM | 48251w104 |  | 3783884 | 29118 | SH |  | SOLE |  | 14559 | 0 | 14559 |
| Korn Ferry (KFI) | COM | 500643200 |  | 510854 | 7300 | SH |  | SOLE |  | 3650 | 0 | 3650 |
| Landstar Corp (LSTR) | COM | 515098101 |  | 595151 | 4856 | SH |  | SOLE |  | 2428 | 0 | 2428 |
| Lemaitre Vascular (LMAT) | COM | 525558201 |  | 529435 | 6050 | SH |  | SOLE |  | 3025 | 0 | 3025 |
| Linde PLC (LIN) | COM | g54950103 |  | 605150 | 1274 | SH |  | SOLE |  | 637 | 0 | 637 |
| Lowes Co (LOW) | COM | 548661107 |  | 839878 | 3342 | SH |  | SOLE |  | 1671 | 0 | 1671 |
| McDonalds (MCD) | COM | 580135101 |  | 1620949 | 5334 | SH |  | SOLE |  | 2667 | 0 | 2667 |
| Medtronic PLC (MDT) | COM | g5960l103 |  | 523249 | 5494 | SH |  | SOLE |  | 2747 | 0 | 2747 |
| Merck  Co (MRK) | COM | 58933y105 |  | 2001227 | 23844 | SH |  | SOLE |  | 11922 | 0 | 11922 |
| Microsoft Corp (MSFT) | COM | 594918104 |  | 11659037 | 22510 | SH |  | SOLE |  | 11255 | 0 | 11255 |
| Morgan Stanley (MS) | COM | 617446448 |  | 862517 | 5426 | SH |  | SOLE |  | 2713 | 0 | 2713 |
| Nacco Industries Cl A (NC) | COM | 629579103 |  | 2425971 | 57542 | SH |  | SOLE |  | 28771 | 0 | 28771 |
| Newmont Corp (NEM) | COM | 651639106 |  | 456792 | 5418 | SH |  | SOLE |  | 2709 | 0 | 2709 |
| NextEra Energy (NEE) | COM | 65339f101 |  | 2079599 | 27548 | SH |  | SOLE |  | 13774 | 0 | 13774 |
| Norfolk Southern (NSC) | COM | 655844108 |  | 770251 | 2564 | SH |  | SOLE |  | 1282 | 0 | 1282 |
| Novartis ADR (NVS) | COM | 66987v109 |  | 557075 | 4344 | SH |  | SOLE |  | 2172 | 0 | 2172 |
| Nvidia (NVDA) | COM | 67066g104 |  | 3621082 | 19408 | SH |  | SOLE |  | 9704 | 0 | 9704 |
| O'Reilly Automotive (ORLY) | COM | 67103h107 |  | 404287 | 3750 | SH |  | SOLE |  | 1875 | 0 | 1875 |
| Oracle Corp (ORCL) | COM | 68389x105 |  | 2994081 | 10646 | SH |  | SOLE |  | 5323 | 0 | 5323 |
| Otis Worldwide (OTIS) | COM | 68902v107 |  | 584055 | 6388 | SH |  | SOLE |  | 3194 | 0 | 3194 |
| PNC Fin'l Services (PNC) | COM | 693475105 |  | 447672 | 2228 | SH |  | SOLE |  | 1114 | 0 | 1114 |
| PPL Corp (PPL) | COM | 69351t106 |  | 441164 | 11872 | SH |  | SOLE |  | 5936 | 0 | 5936 |
| Palantir Technologies Cl A (PL | COM | 69608a108 |  | 1977433 | 10840 | SH |  | SOLE |  | 5420 | 0 | 5420 |
| Pepsico (PEP) | COM | 713448108 |  | 3240761 | 23076 | SH |  | SOLE |  | 11538 | 0 | 11538 |
| Pfizer Inc (PFE) | COM | 717081103 |  | 1264945 | 49645 | SH |  | SOLE |  | 24822 | 0 | 24822 |
| Phillips 66 (PSX) | COM | 718546104 |  | 1986436 | 14604 | SH |  | SOLE |  | 7302 | 0 | 7302 |
| Powell Industries (POWL) | COM | 739128106 |  | 441974 | 1450 | SH |  | SOLE |  | 725 | 0 | 725 |
| Primary Hydrogen Corp (HNATF) | COM | 74167W103 |  | 3658 | 20000 | SH |  | SOLE |  | 10000 | 0 | 10000 |
| Procter  Gamble (PG) | COM | 742718109 |  | 3318533 | 21598 | SH |  | SOLE |  | 10799 | 0 | 10799 |
| Qualcom Corp (QCOM) | COM | 747525103 |  | 428543 | 2576 | SH |  | SOLE |  | 1288 | 0 | 1288 |
| RTX Corp (RTX) | COM | 75513e101 |  | 4361958 | 26068 | SH |  | SOLE |  | 13034 | 0 | 13034 |
| Regions Financial (RF) | COM | 7591ep100 |  | 886032 | 33600 | SH |  | SOLE |  | 16800 | 0 | 16800 |
| Robo Global Robotics  Automat | COM | 301505707 |  | 1543282 | 23540 | SH |  | SOLE |  | 11770 | 0 | 11770 |
| Salesforce Inc (CRM) | COM | 79466l302 |  | 942312 | 3976 | SH |  | SOLE |  | 1988 | 0 | 1988 |
| Scandium Mining (SCYYF) | COM | 80600l109 |  | 13169 | 236000 | SH |  | SOLE |  | 118000 | 0 | 118000 |
| Sealsq Corp (LAES) | COM | G79483106 |  | 224400 | 60000 | SH |  | SOLE |  | 30000 | 0 | 30000 |
| Smucker JM Co (SJM) | COM | 832696405 |  | 1213931 | 11178 | SH |  | SOLE |  | 5589 | 0 | 5589 |
| Sonoco Products (SON) | COM | 835495102 |  | 1013046 | 23510 | SH |  | SOLE |  | 11755 | 0 | 11755 |
| Sprouts Farmers Markets (SFM) | COM | 85208m102 |  | 1287104 | 11830 | SH |  | SOLE |  | 5915 | 0 | 5915 |
| Starbucks Corp (SBUX) | COM | 855244109 |  | 987790 | 11676 | SH |  | SOLE |  | 5838 | 0 | 5838 |
| State Street Corp (STT) | COM | 857477103 |  | 991885 | 8550 | SH |  | SOLE |  | 4275 | 0 | 4275 |
| Stryker Corp (SYK) | COM | 863667101 |  | 766696 | 2074 | SH |  | SOLE |  | 1037 | 0 | 1037 |
| Sysco Corp (SYY) | COM | 871829107 |  | 2379132 | 28894 | SH |  | SOLE |  | 14447 | 0 | 14447 |
| T Rowe Price Group (TROW) | COM | 74144t108 |  | 456748 | 4450 | SH |  | SOLE |  | 2225 | 0 | 2225 |
| TD Synnex (SNX) | COM | 87162w100 |  | 458500 | 2800 | SH |  | SOLE |  | 1400 | 0 | 1400 |
| TJX Companies (TJX) | COM | 872540109 |  | 4929392 | 34104 | SH |  | SOLE |  | 17052 | 0 | 17052 |
| Taiwan Semiconductor Manufactu | COM | 874039100 |  | 1256246 | 4498 | SH |  | SOLE |  | 2249 | 0 | 2249 |
| Target (TGT) | COM | 87612e106 |  | 912082 | 10168 | SH |  | SOLE |  | 5084 | 0 | 5084 |
| Tesla Inc (TSLA) | COM | 88160r101 |  | 423289 | 952 | SH |  | SOLE |  | 476 | 0 | 476 |
| Texas Instruments Inc (TXN) | COM | 882508104 |  | 1101645 | 5996 | SH |  | SOLE |  | 2998 | 0 | 2998 |
| Thermo Fisher Scientific (TMO) | COM | 883556102 |  | 609185 | 1256 | SH |  | SOLE |  | 628 | 0 | 628 |
| Trade Desk Inc (TTD) | COM | 88339j105 |  | 672417 | 13720 | SH |  | SOLE |  | 6860 | 0 | 6860 |
| Trex Co (TREX) | COM | 89531p105 |  | 1323785 | 25620 | SH |  | SOLE |  | 12810 | 0 | 12810 |
| Tyler Technologies Inc (TYL) | COM | 902252105 |  | 612097 | 1170 | SH |  | SOLE |  | 585 | 0 | 585 |
| US Bancorp (USB) | COM | 902973304 |  | 1826004 | 37782 | SH |  | SOLE |  | 18891 | 0 | 18891 |
| US Lime  Minerals Inc (USLM) | COM | 911922102 |  | 405174 | 3080 | SH |  | SOLE |  | 1540 | 0 | 1540 |
| Ulta Beauty Inc (ULTA) | COM | 90384s303 |  | 1848015 | 3380 | SH |  | SOLE |  | 1690 | 0 | 1690 |
| Unilever PLC (UL) | COM | 904767704 |  | 929392 | 15678 | SH |  | SOLE |  | 7839 | 0 | 7839 |
| Union Pacific Corp (UNP) | COM | 907818108 |  | 538451 | 2278 | SH |  | SOLE |  | 1139 | 0 | 1139 |
| United Parcel Service Inc (UPS | COM | 911312106 |  | 847337 | 10144 | SH |  | SOLE |  | 5072 | 0 | 5072 |
| Universal Display (OLED) | COM | 91347p105 |  | 403600 | 2810 | SH |  | SOLE |  | 1405 | 0 | 1405 |
| VISA Inc CL A (V) | COM | 92826c839 |  | 3801608 | 11136 | SH |  | SOLE |  | 5568 | 0 | 5568 |
| Vericel Corp (VCEL) | COM | 92346j108 |  | 449077 | 14270 | SH |  | SOLE |  | 7135 | 0 | 7135 |
| Verisk Analytics Inc Cl A (VRS | COM | 92345y106 |  | 2381800 | 9470 | SH |  | SOLE |  | 4735 | 0 | 4735 |
| Verizon Communications (VZ) | COM | 92343v104 |  | 1456942 | 33150 | SH |  | SOLE |  | 16575 | 0 | 16575 |
| WD 40 CO (WDFC) | COM | 929236107 |  | 1036610 | 5246 | SH |  | SOLE |  | 2623 | 0 | 2623 |
| Walmart Inc (WMT) | COM | 931142103 |  | 1552908 | 15068 | SH |  | SOLE |  | 7534 | 0 | 7534 |
| Walt Disney Corp (DIS) | COM | 254687106 |  | 2010391 | 17558 | SH |  | SOLE |  | 8779 | 0 | 8779 |
| Zoetis Inc (ZTS) | COM | 98978v103 |  | 1725113 | 11790 | SH |  | SOLE |  | 5895 | 0 | 5895 |
| Invesco S High Div Low Vo | ETF | 46138e362 |  | 692300 | 14000 | SH |  | SOLE |  | 7000 | 0 | 7000 |
| Invesco SP 500 Equal Weight ET | ETF | 46137v357 |  | 7157990 | 37733 | SH |  | SOLE |  | 18867 | 0 | 18867 |
| SPDR Portfolio S 500 ETF (SP | ETF | 78464a854 |  | 548380 | 7000 | SH |  | SOLE |  | 3500 | 0 | 3500 |
| SPDR Portfolio S Mid Cap | ETF | 78464a847 |  | 1241023 | 21700 | SH |  | SOLE |  | 10850 | 0 | 10850 |
| SPDR S 500 ETF (SPY) | ETF | 78462f103 |  | 4508041 | 6767 | SH |  | SOLE |  | 3384 | 0 | 3384 |
| SPDR S Dividend ETF (SDY) | ETF | 78464a763 |  | 1001357 | 7150 | SH |  | SOLE |  | 3575 | 0 | 3575 |
| SPDR S Mid Cap 400 ETF (MDY) | ETF | 78467y107 |  | 18583110 | 31178 | SH |  | SOLE |  | 15589 | 0 | 15589 |
| Schwab US Broad Mkt ETF (SCHB) | ETF | 808524102 |  | 7923411 | 308184 | SH |  | SOLE |  | 154092 | 0 | 154092 |
| Schwab US Dividend Equity ETF | ETF | 808524797 |  | 12399824 | 454206 | SH |  | SOLE |  | 227103 | 0 | 227103 |
| Schwab US Large Cap ETF (SCHX) | ETF | 808524201 |  | 7150783 | 271480 | SH |  | SOLE |  | 135740 | 0 | 135740 |
| Schwab US Large Cap Growth ETF | ETF | 808524300 |  | 16494364 | 516903 | SH |  | SOLE |  | 258451 | 0 | 258451 |
| Schwab US Mid Cap ETF (SCHM) | ETF | 808524508 |  | 14423377 | 486619 | SH |  | SOLE |  | 243309 | 0 | 243309 |
| Schwab US Small Cap ETF (SCHA) | ETF | 808524607 |  | 8830392 | 316502 | SH |  | SOLE |  | 158251 | 0 | 158251 |
| Vanguard Extended Market ETF ( | ETF | 922908652 |  | 2484866 | 11870 | SH |  | SOLE |  | 5935 | 0 | 5935 |
| Vanguard High Dividend Yield E | ETF | 921946406 |  | 500372 | 3550 | SH |  | SOLE |  | 1775 | 0 | 1775 |
| Vanguard Mid Cap ETF (VO) | ETF | 922908629 |  | 931156 | 3170 | SH |  | SOLE |  | 1585 | 0 | 1585 |
| Vanguard S 500 ETF (VOO) | ETF | 922908363 |  | 17373000 | 28370 | SH |  | SOLE |  | 14185 | 0 | 14185 |
| Vanguard Small Cap Growth ETF | ETF | 922908595 |  | 3755964 | 12620 | SH |  | SOLE |  | 6310 | 0 | 6310 |
| Vanguard Total Stock Market ET | ETF | 922908769 |  | 962957 | 2934 | SH |  | SOLE |  | 1467 | 0 | 1467 |
| iShares CORE S 500 ETF (IVV) | ETF | 464287200 |  | 2564758 | 3832 | SH |  | SOLE |  | 1916 | 0 | 1916 |
| iShares Preferred Income Sec E | ETF | 464288687 |  | 3818522 | 120763 | SH |  | SOLE |  | 60381 | 0 | 60381 |
| iShares S 100 ETF (OEF) | ETF | 464287101 |  | 1467824 | 4410 | SH |  | SOLE |  | 2205 | 0 | 2205 |
| iShares TR S 500 Barra Value | ETF | 464287408 |  | 564185 | 2732 | SH |  | SOLE |  | 1366 | 0 | 1366 |
| iShares TR S 500/Barra Growt | ETF | 464287309 |  | 533582 | 4420 | SH |  | SOLE |  | 2210 | 0 | 2210 |
| iShares USA ESG Select (SUSA) | ETF | 464288802 |  | 1029041 | 7586 | SH |  | SOLE |  | 3793 | 0 | 3793 |
| IShares Global 100 ETF (IOO) | ETF | 464287572 |  | 2265789 | 18880 | SH |  | SOLE |  | 9440 | 0 | 9440 |
| IShares Int'l Select Div ETF ( | ETF | 464288448 |  | 822740 | 22510 | SH |  | SOLE |  | 11255 | 0 | 11255 |
| IShares MSCI Canada ETF IV (EW | ETF | 464286509 |  | 560094 | 11080 | SH |  | SOLE |  | 5540 | 0 | 5540 |
| IShares MSCI EAFE ETF (EFA) | ETF | 464287465 |  | 3719186 | 39833 | SH |  | SOLE |  | 19916 | 0 | 19916 |
| IShares MSCI Ireland ETF (EIRL | ETF | 46429b507 |  | 768478 | 11390 | SH |  | SOLE |  | 5695 | 0 | 5695 |
| JPMorgan BetaBuilders Europe E | ETF | 46641Q191 |  | 2066025 | 29680 | SH |  | SOLE |  | 14840 | 0 | 14840 |
| SPDR S Int'l Dividend ETF (D | ETF | 78463x772 |  | 452962 | 10608 | SH |  | SOLE |  | 5304 | 0 | 5304 |
| Schwab Emerging Mkts Equity ET | ETF | 808524706 |  | 2898184 | 86850 | SH |  | SOLE |  | 43425 | 0 | 43425 |
| Schwab International Equity ET | ETF | 808524805 |  | 18355689 | 788475 | SH |  | SOLE |  | 394237 | 0 | 394237 |
| Vanguard FTSE All World ex US | ETF | 922042775 |  | 1411556 | 19778 | SH |  | SOLE |  | 9889 | 0 | 9889 |
| Vanguard Total World Stock ETF | ETF | 922042742 |  | 576004 | 4180 | SH |  | SOLE |  | 2090 | 0 | 2090 |

---