# EDGAR Filing Document

**Accession Number:** 0001731216
**File Stem:** 0001731216-23-000001
**Filing Date:** 2023-1
**Character Count:** 10627
**Document Hash:** aa69154a51d7846de05418e7b190d54b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731216-23-000001.hdr.sgml**: 20230105

**ACCESSION NUMBER**: 0001731216-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230105

**DATE AS OF CHANGE**: 20230105

**EFFECTIVENESS DATE**: 20230105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Martin Capital Partners, LLC
- **CENTRAL INDEX KEY:** 0001731216
- **IRS NUMBER:** 272233908
- **STATE OF INCORPORATION:** OR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18410
- **FILM NUMBER:** 23510817

**BUSINESS ADDRESS:**
- **STREET 1:** 940 WILLAMETTE
- **STREET 2:** SUITE 350
- **CITY:** EUGENE
- **STATE:** OR
- **ZIP:** 97401
- **BUSINESS PHONE:** 5416364170

**MAIL ADDRESS:**
- **STREET 1:** 940 WILLAMETTE
- **STREET 2:** SUITE 350
- **CITY:** EUGENE
- **STATE:** OR
- **ZIP:** 97401

### 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:** Martin Capital Partners LLC<br>**Address:** 940 WILLAMETTE<br>SUITE 350<br>EUGENE, OR 97401

**Form 13F File Number:** 028-18410

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:** Ryan Adair<br>**Title:** Operations Manager<br>**Phone:** 5416364170

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

Ryan S. Adair  Eugene, OR  01-05-2023<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:** 71

**Form 13F Information Table Value Total:** $242300

      (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 |
| Aberdeen Asia-Pacific CEF | COM | 003009107 |  | 267 | 101652 | SH |  | SOLE |  | 89141 | 0 | 12511 |
| Amgen Inc | COM | 031162100 |  | 7357 | 28010 | SH |  | SOLE |  | 26731 | 0 | 1279 |
| Apple Inc. | COM | 037833100 |  | 639 | 4917 | SH |  | SOLE |  | 4917 | 0 | 0 |
| Chevron Corp | COM | 166764100 |  | 7127 | 39705 | SH |  | SOLE |  | 38089 | 0 | 1616 |
| Citizens Financial Group Inc | COM | 174610105 |  | 4835 | 122810 | SH |  | SOLE |  | 115067 | 0 | 7743 |
| Clorox Co Com | COM | 189054109 |  | 3743 | 26670 | SH |  | SOLE |  | 24741 | 0 | 1929 |
| Coca Cola Co | COM | 191216100 |  | 6403 | 100663 | SH |  | SOLE |  | 95990 | 0 | 4673 |
| Coca-Cola Femsa | SPONSORD ADR REP | 191241108 |  | 5210 | 76758 | SH |  | SOLE |  | 73621 | 0 | 3137 |
| Comerica Inc | COM | 200340107 |  | 525 | 7846 | SH |  | SOLE |  | 6169 | 0 | 1677 |
| Crane Co | COM | 224441105 |  | 514 | 5120 | SH |  | SOLE |  | 3771 | 0 | 1349 |
| Cullen/Frost Bankers Inc | COM | 229899109 |  | 4629 | 34621 | SH |  | SOLE |  | 32185 | 0 | 2436 |
| Eastman Chemical | COM | 277432100 |  | 757 | 9293 | SH |  | SOLE |  | 7277 | 0 | 2016 |
| Edison International | COM | 281020107 |  | 395 | 6211 | SH |  | SOLE |  | 6211 | 0 | 0 |
| General Dynamics Corp | COM | 369550108 |  | 7390 | 29783 | SH |  | SOLE |  | 28569 | 0 | 1214 |
| Gilead Sciences | COM | 375558103 |  | 5772 | 67237 | SH |  | SOLE |  | 64011 | 0 | 3226 |
| Jack Henry  Associates | COM | 426281101 |  | 568 | 3233 | SH |  | SOLE |  | 2575 | 0 | 658 |
| Honeywell International Inc | COM | 438516106 |  | 5002 | 23340 | SH |  | SOLE |  | 22408 | 0 | 932 |
| Huntington Ingalls Industries Inc | COM | 446413106 |  | 554 | 2402 | SH |  | SOLE |  | 1814 | 0 | 588 |
| Ingredion | COM | 457187102 |  | 704 | 7192 | SH |  | SOLE |  | 5839 | 0 | 1353 |
| Intel Corp | COM | 458140100 |  | 5329 | 201637 | SH |  | SOLE |  | 193121 | 0 | 8516 |
| Treasury Bond ETF 1-3 yr | 1 3 YR Treas BD | 464287457 |  | 4185 | 51558 | SH |  | SOLE |  | 49611 | 0 | 1947 |
| iShares Short-Term Corporate Bond | ISHS 1-5YR INVS | 464288646 |  | 5183 | 104036 | SH |  | SOLE |  | 100932 | 0 | 3104 |
| iShares 3-7 Year Treasury Bond ETF | 3 7 YR TREAS BD | 464288661 |  | 1606 | 13982 | SH |  | SOLE |  | 13742 | 0 | 240 |
| Johnson  Johnson Co | COM | 478160104 |  | 7388 | 41823 | SH |  | SOLE |  | 40144 | 0 | 1679 |
| Lincoln Electric | COM | 533900106 |  | 580 | 4013 | SH |  | SOLE |  | 3164 | 0 | 849 |
| Lockheed Martin | COM | 539830109 |  | 6173 | 12688 | SH |  | SOLE |  | 12152 | 0 | 536 |
| MSC Industrial Direct | COM | 553530106 |  | 6113 | 74822 | SH |  | SOLE |  | 70514 | 0 | 4308 |
| Microsoft Corp. | COM | 594918104 |  | 5495 | 22914 | SH |  | SOLE |  | 21956 | 0 | 958 |
| Mitsubishi UFJ Financial ADR | SPONSORED ADS | 606822104 |  | 4428 | 663842 | SH |  | SOLE |  | 636619 | 0 | 27223 |
| Omnicom Group | COM | 681919106 |  | 988 | 12115 | SH |  | SOLE |  | 9643 | 0 | 2472 |
| Paychex Inc | COM | 704326107 |  | 902 | 7808 | SH |  | SOLE |  | 6247 | 0 | 1561 |
| Pepsico Inc | COM | 713448108 |  | 4013 | 22211 | SH |  | SOLE |  | 21126 | 0 | 1085 |
| Pfizer Inc | COM | 717081103 |  | 8479 | 165480 | SH |  | SOLE |  | 158743 | 0 | 6737 |
| Phillips 66 | COM | 718546104 |  | 3728 | 35816 | SH |  | SOLE |  | 34355 | 0 | 1461 |
| Procter  Gamble Co | COM | 742718109 |  | 5786 | 38179 | SH |  | SOLE |  | 36430 | 0 | 1749 |
| Public Service Enterprise Group | COM | 744573106 |  | 5602 | 91424 | SH |  | SOLE |  | 86449 | 0 | 4975 |
| Robert Half International | COM | 770323103 |  | 917 | 12420 | SH |  | SOLE |  | 10047 | 0 | 2373 |
| Schwab U.S. Dividend Equity ETF | US Dividend EQ | 808524797 |  | 1008 | 13348 | SH |  | SOLE |  | 11206 | 0 | 2142 |
| Snap-On Inc | COM | 833034101 |  | 405 | 1774 | SH |  | SOLE |  | 1331 | 0 | 443 |
| Texas Instruments Inc | COM | 882508104 |  | 6479 | 39215 | SH |  | SOLE |  | 37604 | 0 | 1611 |
| US Bancorp Del Com New | COM | 902973304 |  | 5200 | 119236 | SH |  | SOLE |  | 114801 | 0 | 4435 |
| Unilever PLC | SPON ADR NEW | 904767704 |  | 8123 | 161334 | SH |  | SOLE |  | 155851 | 0 | 5483 |
| United Parcel Service | CL B | 911312106 |  | 5611 | 32276 | SH |  | SOLE |  | 30740 | 0 | 1536 |
| VF Corp | COM | 918204108 |  | 3045 | 110298 | SH |  | SOLE |  | 103308 | 0 | 6990 |
| Vanguard Intl Dividend Appreciation ETF | INTL DVD ETF | 921946810 |  | 368 | 5282 | SH |  | SOLE |  | 4681 | 0 | 601 |
| Whirlpool Corp | COM | 963320106 |  | 771 | 5453 | SH |  | SOLE |  | 4320 | 0 | 1133 |
| Raytheon Technologies Ord | COM | 75513E101 |  | 4744 | 47008 | SH |  | SOLE |  | 45098 | 0 | 1910 |
| AmerisourceBergen | COM | 03073E105 |  | 807 | 4870 | SH |  | SOLE |  | 3910 | 0 | 960 |
| Total SA | SPONSORED ADS | 89151E109 |  | 4277 | 68894 | SH |  | SOLE |  | 66551 | 0 | 2343 |
| Alliance World Dollar Govt CEF | COM | 01879R106 |  | 103 | 11179 | SH |  | SOLE |  | 8909 | 0 | 2270 |
| Allison Transmission Holdings Inc | COM | 01973R101 |  | 284 | 6825 | SH |  | SOLE |  | 5182 | 0 | 1643 |
| C.H. Robinson Worldwide | COM | 12541W209 |  | 745 | 8141 | SH |  | SOLE |  | 6384 | 0 | 1757 |
| CenterPoint Energy | COM | 15189T107 |  | 284 | 9460 | SH |  | SOLE |  | 7114 | 0 | 2346 |
| Cisco Systems Inc | COM | 17275R102 |  | 6087 | 127765 | SH |  | SOLE |  | 121322 | 0 | 6443 |
| Costco Whsl Corp New | COM | 22160K105 |  | 383 | 839 | SH |  | SOLE |  | 839 | 0 | 0 |
| Exxon Mobil Corporation Com | COM | 30231G102 |  | 8093 | 73369 | SH |  | SOLE |  | 70384 | 0 | 2985 |
| iShares Barclays 0-5 yr TIPS | 0-5 YR TIPS ETF | 46429B747 |  | 3500 | 36100 | SH |  | SOLE |  | 34903 | 0 | 1197 |
| JP Morgan Chase  Co | COM | 46625H100 |  | 7506 | 55975 | SH |  | SOLE |  | 53607 | 0 | 2368 |
| Merck  Co | COM | 58933Y105 |  | 7602 | 68520 | SH |  | SOLE |  | 65324 | 0 | 3196 |
| Principal Financial Group | COM | 74251V102 |  | 886 | 10557 | SH |  | SOLE |  | 8489 | 0 | 2068 |
| ProShares S MidCap 400 Dividend Arst | S MDCP 400 DIV | 74347B680 |  | 373 | 5219 | SH |  | SOLE |  | 5133 | 0 | 86 |
| Quest Diagnostics | COM | 74834L100 |  | 925 | 5910 | SH |  | SOLE |  | 4721 | 0 | 1189 |
| Spdr Tr S 500 ETF | TR UNIT | 78462F103 |  | 235 | 615 | SH |  | SOLE |  | 615 | 0 | 0 |
| SPDR SER TR | BLOOMBERG SHORT | 78464A334 |  | 612 | 22623 | SH |  | SOLE |  | 22298 | 0 | 325 |
| SPDR SER TR | PORTFOLIO SHORT | 78464A474 |  | 6132 | 208715 | SH |  | SOLE |  | 201755 | 0 | 6960 |
| Spdr Dividend Aristocrats ETF | S DIVID ETF | 78464A763 |  | 1968 | 15730 | SH |  | SOLE |  | 13948 | 0 | 1782 |
| Skyworks Solutions Inc Com | COM | 83088M102 |  | 467 | 5120 | SH |  | SOLE |  | 3891 | 0 | 1229 |
| UnitedHealth Group Inc | COM | 91324P102 |  | 4878 | 9200 | SH |  | SOLE |  | 8722 | 0 | 478 |
| Verizon Communications | COM | 92343V104 |  | 6870 | 174361 | SH |  | SOLE |  | 167215 | 0 | 7146 |
| Western Asset Income CEF | COM | 95766T100 |  | 302 | 26050 | SH |  | SOLE |  | 22538 | 0 | 3512 |
| Medtronic Inc | SHS | G5960L103 |  | 3941 | 50705 | SH |  | SOLE |  | 48577 | 0 | 2128 |

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