# EDGAR Filing Document

**Accession Number:** 0001313792
**File Stem:** 0001398344-26-009044
**Filing Date:** 2026-5
**Character Count:** 20374
**Document Hash:** 8918f7abd041652d76144aaa603574b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-009044.hdr.sgml**: 20260513

**ACCESSION NUMBER**: 0001398344-26-009044

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260513

**DATE AS OF CHANGE**: 20260513

**EFFECTIVENESS DATE**: 20260513

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Edgemoor Investment Advisors, Inc.
- **CENTRAL INDEX KEY:** 0001313792

**ORGANIZATION NAME:**
- **EIN:** 522202829
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11064
- **FILM NUMBER:** 26971152

**BUSINESS ADDRESS:**
- **STREET 1:** 7250 WOODMONT AVENUE
- **STREET 2:** SUITE 315
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 301-543-8881

**MAIL ADDRESS:**
- **STREET 1:** 7250 WOODMONT AVENUE
- **STREET 2:** SUITE 315
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Edgemoor Capital Management, Inc.
- **DATE OF NAME CHANGE:** 20050107

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** Edgemoor Investment Advisors Inc.<br>**Address:** 7250 WOODMONT AVENUE<br>SUITE 315<br>BETHESDA, MD 20814

**Form 13F File Number:** 028-11064

**CRD Number (if applicable):** 000109104

**SEC File Number (if applicable):** 801-56945

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 P. Meehan<br>**Title:** Chief Compliance Officer<br>**Phone:** 301-543-8881

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

/s/ Paul P. Meehan  Bethesda, MD  05-13-2026<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:** 170

**Form 13F Information Table Value Total:** $1270873054

      (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 LABORATORIES | COM | 002824100 |  | 335637 | 3269 | SH |  | SOLE |  | 3269 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 529659 | 2435 | SH |  | SOLE |  | 2435 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 58605073 | 204298 | SH |  | SOLE |  | 204298 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 44388418 | 154362 | SH |  | SOLE |  | 154362 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 234248 | 4450 | SH |  | SOLE |  | 4450 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 383336 | 5809 | SH |  | SOLE |  | 5809 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 38021357 | 182558 | SH |  | SOLE |  | 182558 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 16168747 | 123350 | SH |  | SOLE |  | 123350 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 274349 | 907 | SH |  | SOLE |  | 907 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 672034 | 1910 | SH |  | SOLE |  | 1910 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 86631353 | 341350 | SH |  | SOLE |  | 341350 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 51109099 | 149533 | SH |  | SOLE |  | 149533 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 12902050 | 715985 | SH |  | SOLE |  | 715985 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 9405995 | 324456 | SH |  | SOLE |  | 324456 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 4719965 | 25552 | SH |  | SOLE |  | 25552 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 532738 | 2622 | SH |  | SOLE |  | 2622 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 202667 | 60 | SH |  | SOLE |  | 60 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 391528 | 8031 | SH |  | SOLE |  | 8031 | 0 | 0 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 1869558 | 1569 | SH |  | SOLE |  | 1569 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 2207704 | 18610 | SH |  | SOLE |  | 18610 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 2154420 | 3 | SH |  | SOLE |  | 3 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 72418308 | 151123 | SH |  | SOLE |  | 151123 | 0 | 0 |
| BLACKROCK CR ALLOCATION | COM | 092508100 |  | 2603810 | 257803 | SH |  | SOLE |  | 257803 | 0 | 0 |
| BLACKROCK FLOATING RATE INCO | COM | 09255X100 |  | 3618792 | 328384 | SH |  | SOLE |  | 328384 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 17811571 | 18520 | SH |  | SOLE |  | 18520 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 18008949 | 156613 | SH |  | SOLE |  | 156613 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 5246059 | 1246 | SH |  | SOLE |  | 1246 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 51464132 | 166276 | SH |  | SOLE |  | 166276 | 0 | 0 |
| BROOKFIELD RENEWABLE CORP | CL A EX SUB VTG | 11285B108 |  | 2636388 | 66191 | SH |  | SOLE |  | 66191 | 0 | 0 |
| BROOKFIELD RENEWABLE ENERGY | PARTNERSHIP UNIT | G16258108 |  | 2516936 | 77112 | SH |  | SOLE |  | 77112 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 313848 | 443 | SH |  | SOLE |  | 443 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 7257138 | 168145 | SH |  | SOLE |  | 168145 | 0 | 0 |
| CHEVRON CORPORATION | COM | 166764100 |  | 1153468 | 5575 | SH |  | SOLE |  | 5575 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 768994 | 9911 | SH |  | SOLE |  | 9911 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 16647864 | 146793 | SH |  | SOLE |  | 146793 | 0 | 0 |
| CLEARBRIDGE ENERGY MIDSTREAM | COM | 18469P209 |  | 4106121 | 77738 | SH |  | SOLE |  | 77738 | 0 | 0 |
| CLEARWAY ENERGY INC | CL A | 18539C105 |  | 8443075 | 215549 | SH |  | SOLE |  | 215549 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 241307 | 3173 | SH |  | SOLE |  | 3173 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 303204 | 2297 | SH |  | SOLE |  | 2297 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 1106782 | 9778 | SH |  | SOLE |  | 9778 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 215581 | 772 | SH |  | SOLE |  | 772 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 1717868 | 51743 | SH |  | SOLE |  | 51743 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 318107 | 2339 | SH |  | SOLE |  | 2339 | 0 | 0 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 782862 | 785 | SH |  | SOLE |  | 785 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 7789751 | 95803 | SH |  | SOLE |  | 95803 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 1139138 | 27750 | SH |  | SOLE |  | 27750 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 |  | 1392802 | 7346 | SH |  | SOLE |  | 7346 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 14853844 | 26369 | SH |  | SOLE |  | 26369 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 7005815 | 38875 | SH |  | SOLE |  | 38875 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 304735 | 852 | SH |  | SOLE |  | 852 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 932256 | 1013 | SH |  | SOLE |  | 1013 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 467348 | 3567 | SH |  | SOLE |  | 3567 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 397966 | 20620 | SH |  | SOLE |  | 20620 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 13319606 | 118544 | SH |  | SOLE |  | 118544 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 11144725 | 294522 | SH |  | SOLE |  | 294522 | 0 | 0 |
| EVERGY INC | COM | 30034W106 |  | 7694172 | 93923 | SH |  | SOLE |  | 93923 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 |  | 5716362 | 82511 | SH |  | SOLE |  | 82511 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1966573 | 11591 | SH |  | SOLE |  | 11591 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 2055449 | 10420 | SH |  | SOLE |  | 10420 | 0 | 0 |
| FIRST TR SR FLTG RATE INCOME | COM | 33733U108 |  | 4700367 | 487589 | SH |  | SOLE |  | 487589 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 19861369 | 57867 | SH |  | SOLE |  | 57867 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 |  | 2351344 | 63174 | SH |  | SOLE |  | 63174 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 436532 | 516 | SH |  | SOLE |  | 516 | 0 | 0 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 776172 | 61309 | SH |  | SOLE |  | 61309 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 898199 | 2731 | SH |  | SOLE |  | 2731 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 206817 | 915 | SH |  | SOLE |  | 915 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 239724 | 989 | SH |  | SOLE |  | 989 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 1943116 | 4494 | SH |  | SOLE |  | 4494 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 212455 | 1107 | SH |  | SOLE |  | 1107 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 379207 | 657 | SH |  | SOLE |  | 657 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 282767 | 4054 | SH |  | SOLE |  | 4054 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4793255 | 7338 | SH |  | SOLE |  | 7338 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 2266930 | 22836 | SH |  | SOLE |  | 22836 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 219886 | 1944 | SH |  | SOLE |  | 1944 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 650131 | 3079 | SH |  | SOLE |  | 3079 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 243514 | 1670 | SH |  | SOLE |  | 1670 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 579491 | 5960 | SH |  | SOLE |  | 5960 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 1173806 | 17382 | SH |  | SOLE |  | 17382 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 535457 | 2506 | SH |  | SOLE |  | 2506 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1604117 | 3762 | SH |  | SOLE |  | 3762 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 926607 | 7454 | SH |  | SOLE |  | 7454 | 0 | 0 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 1083425 | 10173 | SH |  | SOLE |  | 10173 | 0 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 935500 | 8813 | SH |  | SOLE |  | 8813 | 0 | 0 |
| ISHARES TR | USD INV GRDE ETF | 464288620 |  | 694423 | 13555 | SH |  | SOLE |  | 13555 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 327081 | 6223 | SH |  | SOLE |  | 6223 | 0 | 0 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 |  | 1160199 | 10510 | SH |  | SOLE |  | 10510 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 323302 | 10663 | SH |  | SOLE |  | 10663 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 285079 | 3149 | SH |  | SOLE |  | 3149 | 0 | 0 |
| ISHARES TR | CORE MSCI PAC | 46434V696 |  | 406268 | 5310 | SH |  | SOLE |  | 5310 | 0 | 0 |
| ISHARES TR | ULTRA SHORT DUR | 46434V878 |  | 14161151 | 279754 | SH |  | SOLE |  | 279754 | 0 | 0 |
| ISHARES TR | RUSEL 2500 ETF | 46435G268 |  | 244320 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 9688180 | 170927 | SH |  | SOLE |  | 170927 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2590250 | 10596 | SH |  | SOLE |  | 10596 | 0 | 0 |
| JOHNSON CONTROLS INTERNATION | SHS | G51502105 |  | 24162681 | 184518 | SH |  | SOLE |  | 184518 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 2101722 | 7144 | SH |  | SOLE |  | 7144 | 0 | 0 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 2783117 | 194896 | SH |  | SOLE |  | 194896 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 5451798 | 162594 | SH |  | SOLE |  | 162594 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 451955 | 4886 | SH |  | SOLE |  | 4886 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 17605191 | 202731 | SH |  | SOLE |  | 202731 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 772410 | 1278 | SH |  | SOLE |  | 1278 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 46970117 | 198790 | SH |  | SOLE |  | 198790 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 250209 | 765 | SH |  | SOLE |  | 765 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 454191 | 1461 | SH |  | SOLE |  | 1461 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 328031 | 2727 | SH |  | SOLE |  | 2727 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 544707 | 952 | SH |  | SOLE |  | 952 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 458111 | 1356 | SH |  | SOLE |  | 1356 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 77414922 | 209133 | SH |  | SOLE |  | 209133 | 0 | 0 |
| MILLROSE PPTYS INC | COM CL A | 601137102 |  | 2133656 | 76202 | SH |  | SOLE |  | 76202 | 0 | 0 |
| NETFLIX INC. | COM | 64110L106 |  | 2028829 | 21100 | SH |  | SOLE |  | 21100 | 0 | 0 |
| NETSCOUT SYS INC | COM | 64115T104 |  | 318250 | 10011 | SH |  | SOLE |  | 10011 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 9505587 | 102342 | SH |  | SOLE |  | 102342 | 0 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 16585887 | 108581 | SH |  | SOLE |  | 108581 | 0 | 0 |
| NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 |  | 260727 | 23217 | SH |  | SOLE |  | 23217 | 0 | 0 |
| NUVEEN FLOATING RATE INCOME | COM | 67072T108 |  | 514528 | 68421 | SH |  | SOLE |  | 68421 | 0 | 0 |
| NUVEEN MUN CR INCOME FD | COM SH BEN INT | 67070X101 |  | 3469875 | 284883 | SH |  | SOLE |  | 284883 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 30626506 | 175610 | SH |  | SOLE |  | 175610 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 3872217 | 42839 | SH |  | SOLE |  | 42839 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1323941 | 8999 | SH |  | SOLE |  | 8999 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 614785 | 6660 | SH |  | SOLE |  | 6660 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 2847123 | 17759 | SH |  | SOLE |  | 17759 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 220159 | 2389 | SH |  | SOLE |  | 2389 | 0 | 0 |
| PEMBINA PIPELINE CORP | COM | 706327103 |  | 3853331 | 86088 | SH |  | SOLE |  | 86088 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 648025 | 4173 | SH |  | SOLE |  | 4173 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 7941923 | 282832 | SH |  | SOLE |  | 282832 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 440092 | 2661 | SH |  | SOLE |  | 2661 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 626581 | 4338 | SH |  | SOLE |  | 4338 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 7834933 | 28924 | SH |  | SOLE |  | 28924 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 287179 | 2230 | SH |  | SOLE |  | 2230 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 12911712 | 211044 | SH |  | SOLE |  | 211044 | 0 | 0 |
| RLJ LODGING TR | CUM CONV PFD A | 74965L200 |  | 1595492 | 66203 | SH |  | SOLE |  | 66203 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 873451 | 4528 | SH |  | SOLE |  | 4528 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 17807727 | 189484 | SH |  | SOLE |  | 189484 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 236562 | 1780 | SH |  | SOLE |  | 1780 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 14572206 | 156690 | SH |  | SOLE |  | 156690 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 12978075 | 69576 | SH |  | SOLE |  | 69576 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 3917828 | 76237 | SH |  | SOLE |  | 76237 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 7323361 | 75874 | SH |  | SOLE |  | 75874 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 3964677 | 9213 | SH |  | SOLE |  | 9213 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 281208 | 3674 | SH |  | SOLE |  | 3674 | 0 | 0 |
| STARWOOD PPTY TR INC | COM | 85571B105 |  | 3564278 | 206984 | SH |  | SOLE |  | 206984 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 327551 | 503 | SH |  | SOLE |  | 503 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 702893 | 3904 | SH |  | SOLE |  | 3904 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 473827 | 1442 | SH |  | SOLE |  | 1442 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 23581363 | 69777 | SH |  | SOLE |  | 69777 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 357800 | 1843 | SH |  | SOLE |  | 1843 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 1502603 | 5633 | SH |  | SOLE |  | 5633 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 8889420 | 18085 | SH |  | SOLE |  | 18085 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 3361984 | 46739 | SH |  | SOLE |  | 46739 | 0 | 0 |
| UNITED PARCEL SVCS INC | CL B | 911312106 |  | 2913140 | 29611 | SH |  | SOLE |  | 29611 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 51082984 | 70115 | SH |  | SOLE |  | 70115 | 0 | 0 |
| US BANCORP | COM NEW | 902973304 |  | 4672890 | 89846 | SH |  | SOLE |  | 89846 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1923876 | 3219 | SH |  | SOLE |  | 3219 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 313026 | 1090 | SH |  | SOLE |  | 1090 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 244340 | 2952 | SH |  | SOLE |  | 2952 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 207257 | 3234 | SH |  | SOLE |  | 3234 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 408491 | 4995 | SH |  | SOLE |  | 4995 | 0 | 0 |
| VERALTO CORP | COM SHS | 92338C103 |  | 213357 | 2413 | SH |  | SOLE |  | 2413 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 11026897 | 219659 | SH |  | SOLE |  | 219659 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 24745392 | 55415 | SH |  | SOLE |  | 55415 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 11564016 | 46149 | SH |  | SOLE |  | 46149 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 18647979 | 61699 | SH |  | SOLE |  | 61699 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 1567818 | 12615 | SH |  | SOLE |  | 12615 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 225983 | 1952 | SH |  | SOLE |  | 1952 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 |  | 232620 | 2922 | SH |  | SOLE |  | 2922 | 0 | 0 |
| WELLS FARGO  CO | PERP PFD CNV A | 949746804 |  | 3392235 | 2937 | SH |  | SOLE |  | 2937 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 2844157 | 14385 | SH |  | SOLE |  | 14385 | 0 | 0 |
| WEYERHAEUSER CO | COM NEW | 962166104 |  | 595286 | 24367 | SH |  | SOLE |  | 24367 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 31313792 | 171742 | SH |  | SOLE |  | 171742 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 2710378 | 34118 | SH |  | SOLE |  | 34118 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 297744 | 1915 | SH |  | SOLE |  | 1915 | 0 | 0 |

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