# EDGAR Filing Document

**Accession Number:** 0001895362
**File Stem:** 0001895362-23-000002
**Filing Date:** 2023-1
**Character Count:** 25823
**Document Hash:** b19fffe06b1a731ed6ccb563ebaa3504
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001895362-23-000002.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001895362-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**EFFECTIVENESS DATE**: 20230127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Badgley Phelps Wealth Managers, LLC
- **CENTRAL INDEX KEY:** 0001895362
- **IRS NUMBER:** 863967539
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-21427
- **FILM NUMBER:** 23560438

**BUSINESS ADDRESS:**
- **STREET 1:** 1420 FIFTH AVENUE
- **STREET 2:** SUITE 3200
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98101
- **BUSINESS PHONE:** 2066236172

**MAIL ADDRESS:**
- **STREET 1:** 1420 FIFTH AVENUE
- **STREET 2:** SUITE 3200
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98101

### 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:** Badgley Phelps Wealth Managers LLC<br>**Address:** 1420 FIFTH AVENUE<br>SUITE 3200<br>SEATTLE, WA 98101

**Form 13F File Number:** 028-21427

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:** Lisa P. Guzman<br>**Title:** Chief Compliance Officer<br>**Phone:** 2066236172

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

Lisa P. Guzman  Seattle, WA  01-27-2023<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:** 227

**Form 13F Information Table Value Total:** $2498771169

      (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 |
| iShares TIPS Bond ETF | COM | 464287176 |  | 395278 | 3714 | SH |  | SOLE |  | 3432 | 0 | 282 |
| iShares Core US Aggregate Bond | COM | 464287226 |  | 421883 | 4350 | SH |  | SOLE |  | 4350 | 0 | 0 |
| iShares Intermediate Govt/Cred | COM | 464288612 |  | 6240019 | 60902 | SH |  | SOLE |  | 52595 | 0 | 8307 |
| Schwab U.S. Aggregate Bond ETF | COM | 808524839 |  | 280058 | 6135 | SH |  | SOLE |  | 6135 | 0 | 0 |
| SPDR Short Term Corporate Bond | COM | 78464A474 |  | 3229038 | 109906 | SH |  | SOLE |  | 109006 | 0 | 900 |
| 3M | COM | 88579Y101 |  | 664717 | 5543 | SH |  | SOLE |  | 5543 | 0 | 0 |
| AbbVie | COM | 00287Y109 |  | 656867 | 4065 | SH |  | SOLE |  | 4065 | 0 | 0 |
| Accenture Ltd. Cl A | COM | G1151C101 |  | 9517382 | 35667 | SH |  | SOLE |  | 34378 | 0 | 1289 |
| Adobe | COM | 00724F101 |  | 11193324 | 33261 | SH |  | SOLE |  | 31667 | 0 | 1594 |
| Alphabet | COM | 02079K305 |  | 23257163 | 263597 | SH |  | SOLE |  | 246495 | 0 | 17102 |
| Alphabet Cl C | COM | 02079K107 |  | 19384222 | 218463 | SH |  | SOLE |  | 204076 | 0 | 14387 |
| Amazon.com | COM | 023135106 |  | 41327664 | 491996 | SH |  | SOLE |  | 462097 | 0 | 29899 |
| American Tower | COM | 03027X100 |  | 12850379 | 60655 | SH |  | SOLE |  | 56245 | 0 | 4410 |
| Amgen | COM | 031162100 |  | 9999462 | 38073 | SH |  | SOLE |  | 35356 | 0 | 2717 |
| Apple | COM | 037833100 |  | 93680628 | 721008 | SH |  | SOLE |  | 673462 | 0 | 47546 |
| Applied Materials | COM | 038222105 |  | 7027174 | 72162 | SH |  | SOLE |  | 69343 | 0 | 2819 |
| Automatic Data Processing | COM | 053015103 |  | 1790733 | 7497 | SH |  | SOLE |  | 7447 | 0 | 50 |
| AutoZone | COM | 053332102 |  | 300874 | 122 | SH |  | SOLE |  | 122 | 0 | 0 |
| Becton Dickinson | COM | 075887109 |  | 251757 | 990 | SH |  | SOLE |  | 990 | 0 | 0 |
| Booking Holdings | COM | 09857l108 |  | 11464928 | 5689 | SH |  | SOLE |  | 5189 | 0 | 500 |
| Canadian Pacific Railway LTD | COM | 13645t100 |  | 217430 | 2915 | SH |  | SOLE |  | 2915 | 0 | 0 |
| Charles Schwab | COM | 808513105 |  | 5002927 | 60088 | SH |  | SOLE |  | 60088 | 0 | 0 |
| Chipotle Mexican Grill | COM | 169656105 |  | 6063331 | 4370 | SH |  | SOLE |  | 4111 | 0 | 259 |
| Constellation Brands | COM | 21036P108 |  | 590499 | 2548 | SH |  | SOLE |  | 2548 | 0 | 0 |
| CoStar Group | COM | 22160n109 |  | 13378791 | 173121 | SH |  | SOLE |  | 163629 | 0 | 9492 |
| Costco Wholesale | COM | 22160K105 |  | 35848592 | 78529 | SH |  | SOLE |  | 73390 | 0 | 5139 |
| Dollar General | COM | 256677105 |  | 10760387 | 43697 | SH |  | SOLE |  | 41728 | 0 | 1969 |
| Ecolab | COM | 278865100 |  | 8841026 | 60738 | SH |  | SOLE |  | 54792 | 0 | 5946 |
| Eli Lilly | COM | 532457108 |  | 32682348 | 89335 | SH |  | SOLE |  | 83716 | 0 | 5619 |
| EPAM Systems | COM | 29414b104 |  | 1461720 | 4460 | SH |  | SOLE |  | 4460 | 0 | 0 |
| Equinix | COM | 29444U700 |  | 14225954 | 21718 | SH |  | SOLE |  | 20183 | 0 | 1535 |
| Estee Lauder | COM | 518439104 |  | 12305022 | 49595 | SH |  | SOLE |  | 47218 | 0 | 2377 |
| Gilead Sciences | COM | 375558103 |  | 495354 | 5770 | SH |  | SOLE |  | 5770 | 0 | 0 |
| Home Depot | COM | 437076102 |  | 26901561 | 85169 | SH |  | SOLE |  | 78489 | 0 | 6680 |
| iShares Russell 1000 Growth In | COM | 464287614 |  | 21523560 | 100465 | SH |  | SOLE |  | 97737 | 0 | 2728 |
| iShares Russell 1000 Index ETF | COM | 464287622 |  | 7319425 | 34768 | SH |  | SOLE |  | 31189 | 0 | 3579 |
| Lockheed Martin | COM | 539830109 |  | 326435 | 671 | SH |  | SOLE |  | 671 | 0 | 0 |
| Lowe's | COM | 548661107 |  | 395093 | 1983 | SH |  | SOLE |  | 1983 | 0 | 0 |
| Marriott International Cl A | COM | 571903202 |  | 215890 | 1450 | SH |  | SOLE |  | 1200 | 0 | 250 |
| Marsh  McLennan | COM | 571748102 |  | 22456315 | 135704 | SH |  | SOLE |  | 124707 | 0 | 10997 |
| MasterCard | COM | 57636Q104 |  | 654742 | 1883 | SH |  | SOLE |  | 1883 | 0 | 0 |
| Microsoft | COM | 594918104 |  | 100542045 | 419240 | SH |  | SOLE |  | 389360 | 0 | 29880 |
| Netflix | COM | 64110L106 |  | 526361 | 1785 | SH |  | SOLE |  | 1785 | 0 | 0 |
| NIKE Class B | COM | 654106103 |  | 7270659 | 62137 | SH |  | SOLE |  | 59496 | 0 | 2641 |
| NVIDIA | COM | 67066G104 |  | 20808592 | 142388 | SH |  | SOLE |  | 134041 | 0 | 8347 |
| PACCAR | COM | 693718108 |  | 1161908 | 11740 | SH |  | SOLE |  | 7820 | 0 | 3920 |
| Palo Alto Networks | COM | 697435105 |  | 16015843 | 114776 | SH |  | SOLE |  | 106748 | 0 | 8028 |
| Paychex | COM | 704326107 |  | 212862 | 1842 | SH |  | SOLE |  | 1842 | 0 | 0 |
| PayPal Holdings | COM | 70450Y103 |  | 408589 | 5737 | SH |  | SOLE |  | 4887 | 0 | 850 |
| PepsiCo | COM | 713448108 |  | 17089729 | 94596 | SH |  | SOLE |  | 86691 | 0 | 7905 |
| Salesforce | COM | 79466L302 |  | 14172810 | 106892 | SH |  | SOLE |  | 99040 | 0 | 7852 |
| Schwab U.S. Large-Cap Growth E | COM | 808524300 |  | 367666 | 6617 | SH |  | SOLE |  | 6617 | 0 | 0 |
| Seattle Genetics | COM | 81181c104 |  | 224892 | 1750 | SH |  | SOLE |  | 1750 | 0 | 0 |
| ServiceNow | COM | 81762P102 |  | 17713266 | 45621 | SH |  | SOLE |  | 43616 | 0 | 2005 |
| Sherwin-Williams | COM | 824348106 |  | 11624666 | 48981 | SH |  | SOLE |  | 46636 | 0 | 2345 |
| Starbucks | COM | 855244109 |  | 3782092 | 38126 | SH |  | SOLE |  | 35121 | 0 | 3005 |
| Stryker | COM | 863667101 |  | 11681983 | 47781 | SH |  | SOLE |  | 43715 | 0 | 4066 |
| Synopsys | COM | 871607107 |  | 7194562 | 22533 | SH |  | SOLE |  | 21664 | 0 | 869 |
| Sysco | COM | 871829107 |  | 13422259 | 175569 | SH |  | SOLE |  | 168239 | 0 | 7330 |
| Technology Select Sector SPDR | COM | 81369Y803 |  | 488692 | 3927 | SH |  | SOLE |  | 3927 | 0 | 0 |
| Tesla Motors | COM | 88160R101 |  | 4065433 | 33004 | SH |  | SOLE |  | 32141 | 0 | 863 |
| Thermo Fisher Scientific | COM | 883556102 |  | 26684638 | 48457 | SH |  | SOLE |  | 44738 | 0 | 3719 |
| TJX Companies | COM | 872540109 |  | 205605 | 2583 | SH |  | SOLE |  | 2583 | 0 | 0 |
| Trilogy International Partners | COM | 89621t108 |  | 1623 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| United Parcel Service | COM | 911312106 |  | 12751189 | 73350 | SH |  | SOLE |  | 71264 | 0 | 2086 |
| UnitedHealth Group | COM | 91324P102 |  | 23220221 | 43797 | SH |  | SOLE |  | 40240 | 0 | 3557 |
| Vanguard Growth ETF | COM | 922908736 |  | 332707 | 1561 | SH |  | SOLE |  | 1561 | 0 | 0 |
| Vanguard Russell 1000 Growth I | COM | 92206c680 |  | 1409639 | 25574 | SH |  | SOLE |  | 25391 | 0 | 183 |
| VISA Class A | COM | 92826C839 |  | 36758325 | 176927 | SH |  | SOLE |  | 165353 | 0 | 11574 |
| Waste Management | COM | 94106L109 |  | 244494 | 1558 | SH |  | SOLE |  | 1433 | 0 | 125 |
| Zoetis | COM | 98978V103 |  | 9722355 | 66342 | SH |  | SOLE |  | 62468 | 0 | 3874 |
| Abbott Labs | COM | 002824100 |  | 2766598 | 25199 | SH |  | SOLE |  | 24821 | 0 | 378 |
| AFLAC | COM | 001055102 |  | 249776 | 3472 | SH |  | SOLE |  | 3472 | 0 | 0 |
| Aptiv | COM | G6095L109 |  | 10766852 | 115611 | SH |  | SOLE |  | 108745 | 0 | 6866 |
| Bank of America | COM | 060505104 |  | 18711289 | 564954 | SH |  | SOLE |  | 536754 | 0 | 28200 |
| Bank of Montreal | COM | 063671101 |  | 323986 | 3576 | SH |  | SOLE |  | 3576 | 0 | 0 |
| Berkshire Hathaway B | COM | 084670702 |  | 36381315 | 117777 | SH |  | SOLE |  | 109601 | 0 | 8176 |
| BlackRock | COM | 09247X101 |  | 551614 | 778 | SH |  | SOLE |  | 778 | 0 | 0 |
| Boeing | COM | 097023105 |  | 9282564 | 48730 | SH |  | SOLE |  | 45112 | 0 | 3618 |
| Bristol-Myers Squibb | COM | 110122108 |  | 19065056 | 264976 | SH |  | SOLE |  | 250362 | 0 | 14614 |
| Broadcom | COM | 11135F101 |  | 324295 | 580 | SH |  | SOLE |  | 580 | 0 | 0 |
| Caterpillar | COM | 149123101 |  | 16057713 | 67030 | SH |  | SOLE |  | 63367 | 0 | 3663 |
| Chevron | COM | 166764100 |  | 40624327 | 226332 | SH |  | SOLE |  | 212271 | 0 | 14061 |
| CIGNA | COM | 125523100 |  | 208744 | 630 | SH |  | SOLE |  | 630 | 0 | 0 |
| Cisco Systems | COM | 17275R102 |  | 16019673 | 336265 | SH |  | SOLE |  | 322387 | 0 | 13878 |
| Clorox | COM | 189054109 |  | 310486 | 2213 | SH |  | SOLE |  | 2213 | 0 | 0 |
| Coca-Cola | COM | 191216100 |  | 17878892 | 281070 | SH |  | SOLE |  | 266155 | 0 | 14915 |
| Colgate-Palmolive | COM | 194162103 |  | 2095184 | 26592 | SH |  | SOLE |  | 26131 | 0 | 461 |
| Comcast Class A | COM | 20030N101 |  | 307107 | 8782 | SH |  | SOLE |  | 8782 | 0 | 0 |
| CVS Health Corporation | COM | 126650100 |  | 10208963 | 109550 | SH |  | SOLE |  | 103493 | 0 | 6057 |
| Danaher | COM | 235851102 |  | 29722727 | 111984 | SH |  | SOLE |  | 105001 | 0 | 6983 |
| Deere  Company | COM | 244199105 |  | 442052 | 1031 | SH |  | SOLE |  | 1031 | 0 | 0 |
| Dimensional US Marketwide Valu | COM | 25434v724 |  | 241960 | 7227 | SH |  | SOLE |  | 7227 | 0 | 0 |
| Emerson Electric | COM | 291011104 |  | 573817 | 5974 | SH |  | SOLE |  | 5049 | 0 | 925 |
| Energy Select Sector SPDR ETF | COM | 81369y506 |  | 279904 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| EOG Resources | COM | 26875P101 |  | 18474506 | 142638 | SH |  | SOLE |  | 132797 | 0 | 9841 |
| Exxon Mobil | COM | 30231G102 |  | 1626634 | 14747 | SH |  | SOLE |  | 13937 | 0 | 810 |
| First Republic Bank | COM | 33616C100 |  | 9335803 | 76592 | SH |  | SOLE |  | 70201 | 0 | 6391 |
| General Mills | COM | 370334104 |  | 560583 | 6686 | SH |  | SOLE |  | 5801 | 0 | 885 |
| General Motors | COM | 37045V100 |  | 3227155 | 95932 | SH |  | SOLE |  | 93138 | 0 | 2794 |
| Goldman Sachs Group | COM | 38141G104 |  | 266119 | 775 | SH |  | SOLE |  | 775 | 0 | 0 |
| Honeywell | COM | 438516106 |  | 13705574 | 63955 | SH |  | SOLE |  | 59426 | 0 | 4529 |
| Humana | COM | 444859102 |  | 13273916 | 25916 | SH |  | SOLE |  | 24502 | 0 | 1414 |
| Intel | COM | 458140100 |  | 290994 | 11010 | SH |  | SOLE |  | 9335 | 0 | 1675 |
| iShares Russell 1000 Value Ind | COM | 464287598 |  | 26252658 | 173113 | SH |  | SOLE |  | 167298 | 0 | 5815 |
| Johnson  Johnson | COM | 478160104 |  | 34414435 | 194817 | SH |  | SOLE |  | 182960 | 0 | 11857 |
| Johnson Controls International | COM | g51502105 |  | 15769088 | 246392 | SH |  | SOLE |  | 237086 | 0 | 9306 |
| JPMorgan Chase | COM | 46625H100 |  | 31672996 | 236189 | SH |  | SOLE |  | 217847 | 0 | 18342 |
| L3Harris Technologies | COM | 502431109 |  | 11818428 | 56762 | SH |  | SOLE |  | 53057 | 0 | 3705 |
| LAM Research | COM | 512807108 |  | 12388537 | 29475 | SH |  | SOLE |  | 27104 | 0 | 2371 |
| Linde | COM | G5494J103 |  | 13133638 | 40265 | SH |  | SOLE |  | 37814 | 0 | 2451 |
| McDonald's | COM | 580135101 |  | 18489114 | 70159 | SH |  | SOLE |  | 64397 | 0 | 5762 |
| Medtronic | COM | G5960L103 |  | 15681642 | 201771 | SH |  | SOLE |  | 188434 | 0 | 13337 |
| Merck | COM | 58933Y105 |  | 819365 | 7385 | SH |  | SOLE |  | 7385 | 0 | 0 |
| Meta Platforms | COM | 30303m102 |  | 10483058 | 87112 | SH |  | SOLE |  | 81002 | 0 | 6110 |
| Mondelez International | COM | 609207105 |  | 18601496 | 279092 | SH |  | SOLE |  | 260455 | 0 | 18637 |
| Morgan Stanley | COM | 617446448 |  | 31245851 | 367512 | SH |  | SOLE |  | 341257 | 0 | 26255 |
| NextEra Energy | COM | 65339F101 |  | 28348272 | 339094 | SH |  | SOLE |  | 317210 | 0 | 21884 |
| NiSource | COM | 65473p105 |  | 9549944 | 348284 | SH |  | SOLE |  | 332704 | 0 | 15580 |
| Northrop Grumman | COM | 666807102 |  | 218790 | 401 | SH |  | SOLE |  | 381 | 0 | 20 |
| Oracle | COM | 68389X105 |  | 8291404 | 101436 | SH |  | SOLE |  | 96985 | 0 | 4451 |
| Pfizer | COM | 717081103 |  | 18714289 | 365228 | SH |  | SOLE |  | 339651 | 0 | 25577 |
| Procter  Gamble | COM | 742718109 |  | 29876572 | 197127 | SH |  | SOLE |  | 186776 | 0 | 10351 |
| Prologis | COM | 74340W103 |  | 26741061 | 237213 | SH |  | SOLE |  | 221146 | 0 | 16067 |
| Qualcomm | COM | 747525103 |  | 348070 | 3166 | SH |  | SOLE |  | 2921 | 0 | 245 |
| Raytheon Technologies | COM | 75513E101 |  | 14694171 | 145602 | SH |  | SOLE |  | 136504 | 0 | 9098 |
| Truist Financial | COM | 89832q109 |  | 9726141 | 226032 | SH |  | SOLE |  | 208974 | 0 | 17058 |
| U.S. Bancorp | COM | 902973304 |  | 1098667 | 25193 | SH |  | SOLE |  | 24288 | 0 | 905 |
| Union Pacific | COM | 907818108 |  | 17325956 | 83672 | SH |  | SOLE |  | 78202 | 0 | 5470 |
| Valero Energy | COM | 91913Y100 |  | 21167123 | 166854 | SH |  | SOLE |  | 156661 | 0 | 10193 |
| Vanguard High Dividend Yield E | COM | 921946406 |  | 676421 | 6251 | SH |  | SOLE |  | 6251 | 0 | 0 |
| Vanguard Russell 1000 Value In | COM | 92206c714 |  | 1798792 | 27017 | SH |  | SOLE |  | 27017 | 0 | 0 |
| Vanguard Value ETF | COM | 922908744 |  | 855458 | 6094 | SH |  | SOLE |  | 5567 | 0 | 527 |
| Verizon Communications | COM | 92343V104 |  | 9299001 | 236015 | SH |  | SOLE |  | 220539 | 0 | 15476 |
| Walmart Inc. | COM | 931142103 |  | 15046413 | 106118 | SH |  | SOLE |  | 99591 | 0 | 6527 |
| Walt Disney | COM | 254687106 |  | 13205087 | 151992 | SH |  | SOLE |  | 144072 | 0 | 7920 |
| WEC Energy Group | COM | 92939U106 |  | 607190 | 6476 | SH |  | SOLE |  | 4126 | 0 | 2350 |
| Xcel Energy | COM | 98389B100 |  | 340945 | 4863 | SH |  | SOLE |  | 4863 | 0 | 0 |
| iShares Core S Mid-Cap ETF | COM | 464287507 |  | 68733235 | 284151 | SH |  | SOLE |  | 259270 | 0 | 24881 |
| iShares Russell 2000 Fund ETF | COM | 464287655 |  | 5909109 | 33890 | SH |  | SOLE |  | 33799 | 0 | 91 |
| iShares Russell 2000 Growth In | COM | 464287648 |  | 36785526 | 171478 | SH |  | SOLE |  | 163022 | 0 | 8456 |
| iShares Russell 2000 Value Ind | COM | 464287630 |  | 44532211 | 321138 | SH |  | SOLE |  | 306048 | 0 | 15090 |
| iShares Russell 2500 ETF | COM | 46435G268 |  | 353434 | 6651 | SH |  | SOLE |  | 6651 | 0 | 0 |
| iShares Russell Mid-Cap Value | COM | 464287473 |  | 10761429 | 102159 | SH |  | SOLE |  | 97581 | 0 | 4578 |
| iShares Russell Midcap Growth | COM | 464287481 |  | 16369065 | 195802 | SH |  | SOLE |  | 177600 | 0 | 18202 |
| iShares Russell Midcap Index E | COM | 464287499 |  | 30221569 | 448059 | SH |  | SOLE |  | 427726 | 0 | 20333 |
| iShares S Small Cap 600 Inde | COM | 464287804 |  | 2662167 | 28129 | SH |  | SOLE |  | 28129 | 0 | 0 |
| iShares S SmlCap 600 Growth | COM | 464287887 |  | 239508 | 2216 | SH |  | SOLE |  | 1879 | 0 | 337 |
| Leafly Holdings | COM | 52178j105 |  | 46059 | 70653 | SH |  | SOLE |  | 70653 | 0 | 0 |
| Schwab US Small Cap ETF | COM | 808524607 |  | 1071408 | 26448 | SH |  | SOLE |  | 26448 | 0 | 0 |
| SPDR S MidCap 400 ETF Trust | COM | 78467Y107 |  | 3626404 | 8190 | SH |  | SOLE |  | 8117 | 0 | 73 |
| Tilray | COM | 88688t100 |  | 86338 | 32096 | SH |  | SOLE |  | 32096 | 0 | 0 |
| Vanguard Extended Market ETF | COM | 922908652 |  | 237390 | 1787 | SH |  | SOLE |  | 1787 | 0 | 0 |
| Vanguard Mid-Cap ETF | COM | 922908629 |  | 1731156 | 8494 | SH |  | SOLE |  | 8494 | 0 | 0 |
| Vanguard Mid-Cap Value ETF | COM | 922908512 |  | 519010 | 3838 | SH |  | SOLE |  | 3838 | 0 | 0 |
| Vanguard Small Cap ETF | COM | 922908751 |  | 78661061 | 428577 | SH |  | SOLE |  | 398666 | 0 | 29911 |
| iShares MSCI ACWI ex US ETF | COM | 464288240 |  | 397488 | 8736 | SH |  | SOLE |  | 8736 | 0 | 0 |
| iShares MSCI EAFE ETF | COM | 464287465 |  | 129776167 | 1977090 | SH |  | SOLE |  | 1864513 | 0 | 112577 |
| JPM BetaBuilders Dev Asia ex-J | COM | 46641Q233 |  | 9052869 | 184979 | SH |  | SOLE |  | 177770 | 0 | 7209 |
| Nestle SA F ADR | COM | 641069406 |  | 707034 | 6130 | SH |  | SOLE |  | 6130 | 0 | 0 |
| Novo-Nordisk A/S ADR | COM | 670100205 |  | 282049 | 2084 | SH |  | SOLE |  | 2084 | 0 | 0 |
| PT Unilever Indonesia Tbk | COM | y9064h141 |  | 9058 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| Schwab Emerging Markets Equity | COM | 808524706 |  | 5598476 | 236522 | SH |  | SOLE |  | 228840 | 0 | 7682 |
| Schwab International Equity ET | COM | 808524805 |  | 1255320 | 38973 | SH |  | SOLE |  | 38973 | 0 | 0 |
| Stora Enso Oyj | COM | 86210m106 |  | 488740 | 34761 | SH |  | SOLE |  | 34761 | 0 | 0 |
| Vanguard FTSE All-World Ex-US | COM | 922042775 |  | 6511381 | 129864 | SH |  | SOLE |  | 127664 | 0 | 2200 |
| Vanguard FTSE Developed Market | COM | 921943858 |  | 67140804 | 1599733 | SH |  | SOLE |  | 1511632 | 0 | 88101 |
| Vanguard FTSE Emerging Markets | COM | 922042858 |  | 64479783 | 1654176 | SH |  | SOLE |  | 1575189 | 0 | 78987 |
| Altria Group | COM | 02209S103 |  | 995063 | 21769 | SH |  | SOLE |  | 21769 | 0 | 0 |
| Apple | COM | 037833100 |  | 1355830 | 10435 | SH |  | SOLE |  | 10435 | 0 | 0 |
| Banner | COM | 06652V208 |  | 335086 | 5302 | SH |  | SOLE |  | 5302 | 0 | 0 |
| Berkshire Hathaway A | COM | 084670108 |  | 1874844 | 4 | SH |  | SOLE |  | 4 | 0 | 0 |
| Berkshire Hathaway B | COM | 084670702 |  | 1306647 | 4230 | SH |  | SOLE |  | 4230 | 0 | 0 |
| BIFS Technologies | COM | 05547a106 |  | 0 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| Calamos Strategic Total Return | COM | 128125101 |  | 144842 | 10793 | SH |  | SOLE |  | 10793 | 0 | 0 |
| Charles Schwab | COM | 808513105 |  | 367711 | 4416 | SH |  | SOLE |  | 4416 | 0 | 0 |
| CIM Real Estate Finance Trust | COM | 12558q103 |  | 81862 | 12460 | SH |  | SOLE |  | 12460 | 0 | 0 |
| Comm Services Select Sector SP | COM | 81369y852 |  | 305408 | 6364 | SH |  | SOLE |  | 6364 | 0 | 0 |
| Consumer Discretionary Select | COM | 81369Y407 |  | 269912 | 2090 | SH |  | SOLE |  | 2090 | 0 | 0 |
| Ferrari N V | COM | n3167y103 |  | 311262 | 1453 | SH |  | SOLE |  | 1453 | 0 | 0 |
| Gilead Sciences | COM | 375558103 |  | 7335882 | 85450 | SH |  | SOLE |  | 85450 | 0 | 0 |
| Health Care Select Sector SPDR | COM | 81369Y209 |  | 434720 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| Heritage Financial | COM | 42722X106 |  | 454299 | 14827 | SH |  | SOLE |  | 14827 | 0 | 0 |
| Invesco QQQ Trust | COM | 46090E103 |  | 1679942 | 6309 | SH |  | SOLE |  | 6309 | 0 | 0 |
| iShares Dow Jones US ETF | COM | 464287846 |  | 458839 | 4910 | SH |  | SOLE |  | 4910 | 0 | 0 |
| iShares Dow Jones US Healthcar | COM | 464287762 |  | 333359 | 1175 | SH |  | SOLE |  | 1175 | 0 | 0 |
| iShares MSCI USA Min Vol Facto | COM | 46429b697 |  | 216300 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| iShares Russell 1000 Growth In | COM | 464287614 |  | 410912 | 1918 | SH |  | SOLE |  | 1693 | 0 | 225 |
| iShares Russell 1000 Index ETF | COM | 464287622 |  | 1992993 | 9467 | SH |  | SOLE |  | 9405 | 0 | 62 |
| iShares Russell 1000 Value Ind | COM | 464287598 |  | 575512 | 3795 | SH |  | SOLE |  | 2935 | 0 | 860 |
| iShares Russell 3000 | COM | 464287689 |  | 887575 | 4022 | SH |  | SOLE |  | 4022 | 0 | 0 |
| iShares S 500 Index Fund | COM | 464287200 |  | 3637941 | 9469 | SH |  | SOLE |  | 9469 | 0 | 0 |
| Microsoft | COM | 594918104 |  | 2144710 | 8943 | SH |  | SOLE |  | 7365 | 0 | 1578 |
| Peabody Energy | COM | 704551100 |  | 239894 | 9080 | SH |  | SOLE |  | 9080 | 0 | 0 |
| Philip Morris Int'l | COM | 718172109 |  | 1189724 | 11755 | SH |  | SOLE |  | 11755 | 0 | 0 |
| Procter  Gamble | COM | 742718109 |  | 356469 | 2352 | SH |  | SOLE |  | 2352 | 0 | 0 |
| Remitly Global Inc | COM | 75960p104 |  | 353244 | 30851 | SH |  | SOLE |  | 30851 | 0 | 0 |
| Riverview Bancorp Inc. | COM | 769397100 |  | 186624 | 24300 | SH |  | SOLE |  | 24300 | 0 | 0 |
| Schwab US Large Cap ETF | COM | 808524201 |  | 941390 | 20850 | SH |  | SOLE |  | 20850 | 0 | 0 |
| SPDR Dow Jones Industrial Avg | COM | 78467x109 |  | 281940 | 851 | SH |  | SOLE |  | 851 | 0 | 0 |
| SPDR S 500 ETF Trust | COM | 78462F103 |  | 5055770 | 13220 | SH |  | SOLE |  | 13220 | 0 | 0 |
| Starbucks | COM | 855244109 |  | 458304 | 4620 | SH |  | SOLE |  | 4620 | 0 | 0 |
| Technology Select Sector SPDR | COM | 81369Y803 |  | 205326 | 1650 | SH |  | SOLE |  | 1650 | 0 | 0 |
| Timberland Bancorp Inc. | COM | 887098101 |  | 251402 | 7366 | SH |  | SOLE |  | 7366 | 0 | 0 |
| United Parcel Service | COM | 911312106 |  | 19760914 | 113673 | SH |  | SOLE |  | 113673 | 0 | 0 |
| Vanguard Dividend Appreciation | COM | 921908844 |  | 439798 | 2896 | SH |  | SOLE |  | 2896 | 0 | 0 |
| Vanguard Financials | COM | 92204A405 |  | 215263 | 2602 | SH |  | SOLE |  | 2602 | 0 | 0 |
| Vanguard Information Technolog | COM | 92204A702 |  | 651613 | 2040 | SH |  | SOLE |  | 2040 | 0 | 0 |
| Vanguard Large Cap ETF | COM | 922908637 |  | 709342 | 4072 | SH |  | SOLE |  | 4072 | 0 | 0 |
| Vanguard S 500 ETF | COM | 922908363 |  | 1950442 | 5551 | SH |  | SOLE |  | 5551 | 0 | 0 |
| Vanguard Total Stock Market In | COM | 922908769 |  | 9774862 | 51126 | SH |  | SOLE |  | 45727 | 0 | 5399 |
| Goldman Sachs Access Treasury | COM | 381430529 |  | 302819 | 3037 | SH |  | SOLE |  | 3037 | 0 | 0 |
| Invesco S 500 Equal Weight E | COM | 46137v357 |  | 12407037 | 87837 | SH |  | SOLE |  | 85215 | 0 | 2622 |
| iPath Bloomberg Commodity Inde | COM | 06738C778 |  | 12389301 | 367526 | SH |  | SOLE |  | 358316 | 0 | 9210 |
| iShares 3-7 Year Treasury Bond | COM | 464288661 |  | 565259 | 4920 | SH |  | SOLE |  | 4920 | 0 | 0 |
| iShares Core S Total US Stoc | COM | 464287150 |  | 664747 | 7839 | SH |  | SOLE |  | 7839 | 0 | 0 |
| iShares National Muni Bond ETF | COM | 464288414 |  | 374596 | 3550 | SH |  | SOLE |  | 3550 | 0 | 0 |
| iShares Treasury Floating Rate | COM | 46434v860 |  | 32140052 | 637573 | SH |  | SOLE |  | 621050 | 0 | 16523 |
| JPMorgan Equity Premium Income | COM | 46641q332 |  | 17044890 | 312808 | SH |  | SOLE |  | 303311 | 0 | 9497 |
| JPMorgan Ultra-Short Income ET | COM | 46641Q837 |  | 34925486 | 696698 | SH |  | SOLE |  | 676127 | 0 | 20571 |
| Vanguard High Dividend Yield E | COM | 921946406 |  | 1230917 | 11375 | SH |  | SOLE |  | 11375 | 0 | 0 |
| Vanguard Int.-Term Corporate B | COM | 92206c870 |  | 23634521 | 304922 | SH |  | SOLE |  | 296592 | 0 | 8330 |
| Vanguard Intermediate-Term Bon | COM | 921937819 |  | 33986853 | 457304 | SH |  | SOLE |  | 444798 | 0 | 12506 |
| Vanguard Intmdt-Term Trs ETF | COM | 92206C706 |  | 47206308 | 807221 | SH |  | SOLE |  | 784313 | 0 | 22908 |
| Vanguard Large Cap ETF | COM | 922908637 |  | 23661831 | 135831 | SH |  | SOLE |  | 131975 | 0 | 3856 |
| Vanguard Short-Term Corporate | COM | 92206C409 |  | 420237 | 5589 | SH |  | SOLE |  | 5589 | 0 | 0 |
| Vida Longevity Fund LP Class | COM | bp0003003 |  | 75387 | 75387 | SH |  | SOLE |  | 75387 | 0 | 0 |

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