# EDGAR Filing Document

**Accession Number:** 0001004140
**File Stem:** 0001004140-23-000001
**Filing Date:** 2023-1
**Character Count:** 16966
**Document Hash:** 480b83a8b2901446fa75d72983051a4d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001004140-23-000001.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001004140-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230120

**EFFECTIVENESS DATE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PENNSYLVANIA CAPITAL MANAGEMENT INC /ADV
- **CENTRAL INDEX KEY:** 0001004140
- **IRS NUMBER:** 232815817
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19699
- **FILM NUMBER:** 23542386

**BUSINESS ADDRESS:**
- **STREET 1:** 1841 HUNTINGDON PIKE
- **CITY:** HUNTINGDON VALLEY
- **STATE:** PA
- **ZIP:** 19006
- **BUSINESS PHONE:** 2158817700

**MAIL ADDRESS:**
- **STREET 1:** 1841 HUNTINGDON PIKE
- **CITY:** HUNTINGDON VALLEY
- **STATE:** PA
- **ZIP:** 19006

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENNSYLVANIA CAPITAL MANAGEMENT INC                     /ADV
- **DATE OF NAME CHANGE:** 19951129

### 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:** PENNSYLVANIA CAPITAL MANAGEMENT INC /ADV<br>**Address:** 1841 HUNTINGDON PIKE<br>HUNTINGDON VALLEY, PA 19006

**Form 13F File Number:** 028-19699

**CRD Number (if applicable):** 000107648

**SEC File Number (if applicable):** 801-50732

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:** Irvin G. Schorsch III<br>**Title:** Chief Compliance Officer<br>**Phone:** 215-881-7700

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

Irvin G. Schorsch III  Huntingdon Valley, PA  01-20-2023<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:** 132

**Form 13F Information Table Value Total:** $189523764

      (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 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 213988 | 624 | SH |  | SOLE | 0 | 0 | 0 | 624 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 14186 | 155 | SH |  | OTR | 0 | 0 | 0 | 155 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2135070 | 23329 | SH |  | SOLE | 0 | 0 | 0 | 23329 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 2474413 | 26820 | SH |  | SOLE | 0 | 0 | 0 | 26820 |
| AMAZON COM INC | COM | 023135106 |  | 328156 | 3451 | SH |  | OTR | 0 | 0 | 0 | 3451 |
| AMAZON COM INC | COM | 023135106 |  | 14537264 | 152879 | SH |  | SOLE | 0 | 0 | 0 | 152879 |
| AMBEV SA | SPONSORED ADR | 02319V103 |  | 64758 | 23808 | SH |  | SOLE | 0 | 0 | 0 | 23808 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 647110 | 1961 | SH |  | SOLE | 0 | 0 | 0 | 1961 |
| AMPLIFY ETF TR | CWP ENHANCED DIV | 032108409 |  | 81390 | 2236 | SH |  | OTR | 0 | 0 | 0 | 2236 |
| AMPLIFY ETF TR | CWP ENHANCED DIV | 032108409 |  | 1771661 | 48672 | SH |  | SOLE | 0 | 0 | 0 | 48672 |
| ANALOG DEVICES INC | COM | 032654105 |  | 882908 | 5200 | SH |  | SOLE | 0 | 0 | 0 | 5200 |
| APPLE INC | COM | 037833100 |  | 2525364 | 18918 | SH |  | OTR | 0 | 0 | 0 | 18918 |
| APPLE INC | COM | 037833100 |  | 26090261 | 195447 | SH |  | SOLE | 0 | 0 | 0 | 195447 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 496471 | 2026 | SH |  | SOLE | 0 | 0 | 0 | 2026 |
| AVERY DENNISON CORP | COM | 053611109 |  | 264811 | 1375 | SH |  | SOLE | 0 | 0 | 0 | 1375 |
| BANK AMERICA CORP | COM | 060505104 |  | 284838 | 8285 | SH |  | SOLE | 0 | 0 | 0 | 8285 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 56705 | 177 | SH |  | OTR | 0 | 0 | 0 | 177 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1631965 | 5094 | SH |  | SOLE | 0 | 0 | 0 | 5094 |
| BK OF AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 266200 | 220 | SH |  | SOLE | 0 | 0 | 0 | 220 |
| BLACKSTONE INC | COM | 09260D107 |  | 18691 | 225 | SH |  | OTR | 0 | 0 | 0 | 225 |
| BLACKSTONE INC | COM | 09260D107 |  | 602839 | 7257 | SH |  | SOLE | 0 | 0 | 0 | 7257 |
| CENTENE CORP DEL | COM | 15135B101 |  | 946300 | 12064 | SH |  | OTR | 0 | 0 | 0 | 12064 |
| CENTENE CORP DEL | COM | 15135B101 |  | 1393016 | 17759 | SH |  | SOLE | 0 | 0 | 0 | 17759 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 337780 | 2260 | SH |  | OTR | 0 | 0 | 0 | 2260 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 43642 | 292 | SH |  | SOLE | 0 | 0 | 0 | 292 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 286967 | 194 | SH |  | SOLE | 0 | 0 | 0 | 194 |
| CITIZENS  NORTHN CORP | COM | 172922106 |  | 2889535 | 127799 | SH |  | SOLE | 0 | 0 | 0 | 127799 |
| DISCOVER FINL SVCS | COM | 254709108 |  | 365649 | 3416 | SH |  | SOLE | 0 | 0 | 0 | 3416 |
| DISNEY WALT CO | COM | 254687106 |  | 86697 | 900 | SH |  | OTR | 0 | 0 | 0 | 900 |
| DISNEY WALT CO | COM | 254687106 |  | 128709 | 1336 | SH |  | SOLE | 0 | 0 | 0 | 1336 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 203043 | 7950 | SH |  | OTR | 0 | 0 | 0 | 7950 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 1152335 | 45119 | SH |  | SOLE | 0 | 0 | 0 | 45119 |
| ERIE INDTY CO | CL A | 29530P102 |  | 640076 | 2550 | SH |  | SOLE | 0 | 0 | 0 | 2550 |
| ETF SER SOLUTIONS | US GLB JETS | 26922A842 |  | 360610 | 18733 | SH |  | SOLE | 0 | 0 | 0 | 18733 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 38980 | 350 | SH |  | OTR | 0 | 0 | 0 | 350 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 498350 | 4475 | SH |  | SOLE | 0 | 0 | 0 | 4475 |
| FULTON FINL CORP PA | COM | 360271100 |  | 502800 | 30000 | SH |  | SOLE | 0 | 0 | 0 | 30000 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 351399 | 1413 | SH |  | SOLE | 0 | 0 | 0 | 1413 |
| GLOBAL X FDS | CLOUD COMPUTNG | 37954Y442 |  | 459837 | 27701 | SH |  | SOLE | 0 | 0 | 0 | 27701 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 10205 | 28 | SH |  | OTR | 0 | 0 | 0 | 28 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 598476 | 1642 | SH |  | SOLE | 0 | 0 | 0 | 1642 |
| INTEL CORP | COM | 458140100 |  | 404587 | 13554 | SH |  | SOLE | 0 | 0 | 0 | 13554 |
| INVESCO DB COMMDY INDX TRCK | UNIT | 46138B103 |  | 78310 | 3216 | SH |  | OTR | 0 | 0 | 0 | 3216 |
| INVESCO DB COMMDY INDX TRCK | UNIT | 46138B103 |  | 2354572 | 96697 | SH |  | SOLE | 0 | 0 | 0 | 96697 |
| INVESCO EXCHANGE TRADED FD T | FINL PFD ETF | 46137V621 |  | 593422 | 38459 | SH |  | SOLE | 0 | 0 | 0 | 38459 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 69943 | 252 | SH |  | OTR | 0 | 0 | 0 | 252 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 736063 | 2652 | SH |  | SOLE | 0 | 0 | 0 | 2652 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 231953 | 915 | SH |  | OTR | 0 | 0 | 0 | 915 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 4365396 | 17220 | SH |  | SOLE | 0 | 0 | 0 | 17220 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 98098 | 987 | SH |  | OTR | 0 | 0 | 0 | 987 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1477502 | 14866 | SH |  | SOLE | 0 | 0 | 0 | 14866 |
| ISHARES TR | CORE S ETF | 464287200 |  | 716242 | 1803 | SH |  | OTR | 0 | 0 | 0 | 1803 |
| ISHARES TR | CORE S ETF | 464287200 |  | 11294795 | 28432 | SH |  | SOLE | 0 | 0 | 0 | 28432 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 2446601 | 11225 | SH |  | SOLE | 0 | 0 | 0 | 11225 |
| ISHARES TR | U.S. FIN SVC ETF | 464287770 |  | 415673 | 2491 | SH |  | SOLE | 0 | 0 | 0 | 2491 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 86260 | 227 | SH |  | OTR | 0 | 0 | 0 | 227 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 1889714 | 4973 | SH |  | SOLE | 0 | 0 | 0 | 4973 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 8422 | 32 | SH |  | OTR | 0 | 0 | 0 | 32 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 323736 | 1230 | SH |  | SOLE | 0 | 0 | 0 | 1230 |
| ISHARES TR | MSCI KLD400 SOC | 464288570 |  | 3190272 | 42880 | SH |  | SOLE | 0 | 0 | 0 | 42880 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 512300 | 9466 | SH |  | SOLE | 0 | 0 | 0 | 9466 |
| ISHARES TR | TRS FLT RT BD | 46434V860 |  | 18061 | 358 | SH |  | OTR | 0 | 0 | 0 | 358 |
| ISHARES TR | TRS FLT RT BD | 46434V860 |  | 222333 | 4407 | SH |  | SOLE | 0 | 0 | 0 | 4407 |
| ISHARES TR | HDG MSCI EAFE | 46434V803 |  | 286502 | 10081 | SH |  | SOLE | 0 | 0 | 0 | 10081 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 112776 | 2032 | SH |  | OTR | 0 | 0 | 0 | 2032 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 3334607 | 60083 | SH |  | SOLE | 0 | 0 | 0 | 60083 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 557 | 11 | SH |  | OTR | 0 | 0 | 0 | 11 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 1234935 | 24401 | SH |  | SOLE | 0 | 0 | 0 | 24401 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 5042216 | 100463 | SH |  | SOLE | 0 | 0 | 0 | 100463 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 827532 | 4732 | SH |  | SOLE | 0 | 0 | 0 | 4732 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 304254 | 2179 | SH |  | OTR | 0 | 0 | 0 | 2179 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 79508 | 569 | SH |  | SOLE | 0 | 0 | 0 | 569 |
| LILLY ELI  CO | COM | 532457108 |  | 1306847 | 3626 | SH |  | SOLE | 0 | 0 | 0 | 3626 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 346972 | 1572 | SH |  | SOLE | 0 | 0 | 0 | 1572 |
| MERCK  CO INC | COM | 58933Y105 |  | 25879 | 233 | SH |  | OTR | 0 | 0 | 0 | 233 |
| MERCK  CO INC | COM | 58933Y105 |  | 424732 | 3824 | SH |  | SOLE | 0 | 0 | 0 | 3824 |
| META PLATFORMS INC | CL A | 30303M102 |  | 847971 | 6381 | SH |  | SOLE | 0 | 0 | 0 | 6381 |
| MICROSOFT CORP | COM | 594918104 |  | 398923 | 1692 | SH |  | OTR | 0 | 0 | 0 | 1692 |
| MICROSOFT CORP | COM | 594918104 |  | 24139208 | 102385 | SH |  | SOLE | 0 | 0 | 0 | 102385 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 814081 | 9103 | SH |  | SOLE | 0 | 0 | 0 | 9103 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1004785 | 11821 | SH |  | SOLE | 0 | 0 | 0 | 11821 |
| NOKIA CORP | SPONSORED ADR | 654902204 |  | 746311 | 151075 | SH |  | SOLE | 0 | 0 | 0 | 151075 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 515712 | 3223 | SH |  | SOLE | 0 | 0 | 0 | 3223 |
| PEPSICO INC | COM | 713448108 |  | 233067 | 1309 | SH |  | SOLE | 0 | 0 | 0 | 1309 |
| PFIZER INC | COM | 717081103 |  | 290584 | 6124 | SH |  | SOLE | 0 | 0 | 0 | 6124 |
| QUALCOMM INC | COM | 747525103 |  | 224941 | 1900 | SH |  | SOLE | 0 | 0 | 0 | 1900 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 765648 | 7688 | SH |  | SOLE | 0 | 0 | 0 | 7688 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US SC | 808524763 |  | 275666 | 5569 | SH |  | SOLE | 0 | 0 | 0 | 5569 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 18253 | 264 | SH |  | OTR | 0 | 0 | 0 | 264 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 1044807 | 15111 | SH |  | SOLE | 0 | 0 | 0 | 15111 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 393726 | 5064 | SH |  | OTR | 0 | 0 | 0 | 5064 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 11522747 | 148203 | SH |  | SOLE | 0 | 0 | 0 | 148203 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 25099 | 537 | SH |  | OTR | 0 | 0 | 0 | 537 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 1646510 | 35227 | SH |  | SOLE | 0 | 0 | 0 | 35227 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 1277 | 30 | SH |  | OTR | 0 | 0 | 0 | 30 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 538509 | 12647 | SH |  | SOLE | 0 | 0 | 0 | 12647 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 308775 | 5370 | SH |  | SOLE | 0 | 0 | 0 | 5370 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 14709 | 285 | SH |  | OTR | 0 | 0 | 0 | 285 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 218104 | 4226 | SH |  | SOLE | 0 | 0 | 0 | 4226 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 292570 | 3319 | SH |  | SOLE | 0 | 0 | 0 | 3319 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 18212 | 141 | SH |  | OTR | 0 | 0 | 0 | 141 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 2402247 | 18599 | SH |  | SOLE | 0 | 0 | 0 | 18599 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 125044 | 905 | SH |  | OTR | 0 | 0 | 0 | 905 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 4729974 | 34233 | SH |  | SOLE | 0 | 0 | 0 | 34233 |
| SIGNATURE BK NEW YORK N Y | COM | 82669G104 |  | 382943 | 3253 | SH |  | SOLE | 0 | 0 | 0 | 3253 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 564012 | 1426 | SH |  | SOLE | 0 | 0 | 0 | 1426 |
| SPDR SER TR | S REGL BKG | 78464A698 |  | 276983 | 4621 | SH |  | SOLE | 0 | 0 | 0 | 4621 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 507987 | 15047 | SH |  | SOLE | 0 | 0 | 0 | 15047 |
| TESLA INC | COM | 88160R101 |  | 451971 | 3668 | SH |  | SOLE | 0 | 0 | 0 | 3668 |
| TEXAS INSTRS INC | COM | 882508104 |  | 562725 | 3146 | SH |  | SOLE | 0 | 0 | 0 | 3146 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 337885 | 580 | SH |  | OTR | 0 | 0 | 0 | 580 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 614018 | 1054 | SH |  | SOLE | 0 | 0 | 0 | 1054 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1347475 | 2731 | SH |  | SOLE | 0 | 0 | 0 | 2731 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 3103 | 14 | SH |  | OTR | 0 | 0 | 0 | 14 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 1456085 | 6569 | SH |  | SOLE | 0 | 0 | 0 | 6569 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 294395 | 810 | SH |  | SOLE | 0 | 0 | 0 | 810 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 11696 | 59 | SH |  | OTR | 0 | 0 | 0 | 59 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 907534 | 4578 | SH |  | SOLE | 0 | 0 | 0 | 4578 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 57294 | 297 | SH |  | OTR | 0 | 0 | 0 | 297 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 378225 | 1961 | SH |  | SOLE | 0 | 0 | 0 | 1961 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 242204 | 1551 | SH |  | OTR | 0 | 0 | 0 | 1551 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1999293 | 12803 | SH |  | SOLE | 0 | 0 | 0 | 12803 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 356179 | 3212 | SH |  | OTR | 0 | 0 | 0 | 3212 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 5189985 | 46803 | SH |  | SOLE | 0 | 0 | 0 | 46803 |
| VANGUARD WORLD FDS | COMM SRVC ETF | 92204A884 |  | 66908 | 755 | SH |  | OTR | 0 | 0 | 0 | 755 |
| VANGUARD WORLD FDS | COMM SRVC ETF | 92204A884 |  | 1439721 | 16246 | SH |  | SOLE | 0 | 0 | 0 | 16246 |
| VULCAN MATLS CO | COM | 929160109 |  | 596298 | 3269 | SH |  | OTR | 0 | 0 | 0 | 3269 |
| VULCAN MATLS CO | COM | 929160109 |  | 2994260 | 16415 | SH |  | SOLE | 0 | 0 | 0 | 16415 |
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 |  | 178560 | 144 | SH |  | OTR | 0 | 0 | 0 | 144 |
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 |  | 889080 | 717 | SH |  | SOLE | 0 | 0 | 0 | 717 |
| WISDOMTREE TR | US LARGECAP DIVD | 97717W307 |  | 2343 | 37 | SH |  | OTR | 0 | 0 | 0 | 37 |
| WISDOMTREE TR | US LARGECAP DIVD | 97717W307 |  | 2312115 | 36509 | SH |  | SOLE | 0 | 0 | 0 | 36509 |

---