# EDGAR Filing Document

**Accession Number:** 0001551969
**File Stem:** 0001085146-23-000239
**Filing Date:** 2023-1
**Character Count:** 26501
**Document Hash:** e8d6c8e039c656d07c0db67dd62738d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-23-000239.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001085146-23-000239

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230119

**EFFECTIVENESS DATE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gilman Hill Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001551969
- **IRS NUMBER:** 208806725
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1211

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14994
- **FILM NUMBER:** 23538757

**BUSINESS ADDRESS:**
- **STREET 1:** 199 ELM STREET
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840
- **BUSINESS PHONE:** 203-571-0225

**MAIL ADDRESS:**
- **STREET 1:** 199 ELM STREET
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840

### 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:** Gilman Hill Asset Management LLC<br>**Address:** 199 ELM STREET<br>NEW CANAAN, CT 06840

**Form 13F File Number:** 028-14994

**CRD Number (if applicable):** 000143970

**SEC File Number (if applicable):** 801-67941

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:** John B. Harrington<br>**Title:** Chief Compliance Officer<br>**Phone:** 203-571-0225

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

/s/  John B. Harrington  New Canaan, CT  01-19-2023<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:** 209

**Form 13F Information Table Value Total:** $487535177

      (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 |
| 3M CO | COM | 88579Y101 | BBG001S5T7X2 | 8453252 | 70491 | SH |  | SOLE |  | 70491 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 | BBG001S5N9M6 | 1158023 | 10548 | SH |  | SOLE |  | 10548 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 13068446 | 80864 | SH |  | SOLE |  | 80864 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 | BBG001SCXK90 | 223879 | 839 | SH |  | SOLE |  | 839 | 0 | 0 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 | BBG001S5NCQ5 | 242302 | 720 | SH |  | SOLE |  | 720 | 0 | 0 |
| ADVANCE AUTO PARTS INC | COM | 00751Y106 | BBG001SD2SB2 | 8024603 | 54578 | SH |  | SOLE |  | 54578 | 0 | 0 |
| AGREE RLTY CORP | COM | 008492100 | BBG001S6RY81 | 744056 | 10490 | SH |  | SOLE |  | 10490 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 | BBG001S5NSB6 | 457766 | 1485 | SH |  | SOLE |  | 1485 | 0 | 0 |
| ALBANY INTL CORP | CL A | 012348108 | BBG001S5VKN1 | 2790984 | 28309 | SH |  | SOLE |  | 28309 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 861742 | 9767 | SH |  | SOLE |  | 9767 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 1899709 | 21410 | SH |  | SOLE |  | 21410 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 | BBG001TBMNT5 | 228039 | 5990 | SH |  | SOLE |  | 5990 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 1081752 | 12878 | SH |  | SOLE |  | 12878 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 | BBG001S5NFD2 | 318652 | 3356 | SH |  | SOLE |  | 3356 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 | BBG001S5P034 | 2955591 | 20004 | SH |  | SOLE |  | 20004 | 0 | 0 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 | BBG003NXJNJ4 | 465211 | 15435 | SH |  | SOLE |  | 15435 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 | BBG001SPHYW3 | 793346 | 5205 | SH |  | SOLE |  | 5205 | 0 | 0 |
| AMGEN INC | COM | 031162100 | BBG001S5NNL6 | 469444 | 1787 | SH |  | SOLE |  | 1787 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 | BBG001S5NSK6 | 360142 | 4730 | SH |  | SOLE |  | 4730 | 0 | 0 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 3038722 | 23387 | SH |  | SOLE |  | 23387 | 0 | 0 |
| APTIV PLC | SHS | G6095L109 | BBG001TRL2T7 | 2610061 | 28026 | SH |  | SOLE |  | 28026 | 0 | 0 |
| ARCH CAP GROUP LTD | ORD | G0450A105 | BBG001S9HZ74 | 470850 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 | BBG001S5ND74 | 216433 | 2331 | SH |  | SOLE |  | 2331 | 0 | 0 |
| ARDAGH METAL PACKAGING S A | SHS | L02235106 | BBG00ZF0FGV9 | 6887227 | 1431856 | SH |  | SOLE |  | 1431856 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 | BBG001SB80N8 | 251063 | 3703 | SH |  | SOLE |  | 3703 | 0 | 0 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 6961702 | 378148 | SH |  | SOLE |  | 378148 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 | BBG001S82KF6 | 386475 | 1618 | SH |  | SOLE |  | 1618 | 0 | 0 |
| B  G FOODS INC NEW | COM | 05508R106 | BBG001SQD861 | 4145508 | 371794 | SH |  | SOLE |  | 371794 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 349366 | 1131 | SH |  | SOLE |  | 1131 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 441431 | 5950 | SH |  | SOLE |  | 5950 | 0 | 0 |
| BOSTON PROPERTIES INC | COM | 101121101 | BBG001S9TWV1 | 417239 | 6174 | SH |  | SOLE |  | 6174 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 | BBG001S5W4F5 | 265398 | 7598 | SH |  | SOLE |  | 7598 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 | BBG001S8N8J6 | 4103237 | 57029 | SH |  | SOLE |  | 57029 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 699472 | 1251 | SH |  | SOLE |  | 1251 | 0 | 0 |
| BUNGE LIMITED | COM | G16962105 | BBG001SJ9BG4 | 601114 | 6025 | SH |  | SOLE |  | 6025 | 0 | 0 |
| CARMAX INC | COM | 143130102 | BBG001SD9561 | 1909023 | 31352 | SH |  | SOLE |  | 31352 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 | BBG00RP5HZM1 | 2967195 | 71932 | SH |  | SOLE |  | 71932 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 306637 | 1280 | SH |  | SOLE |  | 1280 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 7364661 | 41031 | SH |  | SOLE |  | 41031 | 0 | 0 |
| CIGNA CORP NEW | COM | 125523100 | BBG00KXRCDQ9 | 302845 | 914 | SH |  | SOLE |  | 914 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 | BBG001S6HC62 | 4047843 | 84967 | SH |  | SOLE |  | 84967 | 0 | 0 |
| CLEARWAY ENERGY INC | CL A | 18539C105 | BBG004P33PP1 | 8023736 | 268173 | SH |  | SOLE |  | 268173 | 0 | 0 |
| CLEARWAY ENERGY INC | CL C | 18539C204 | BBG008LJ4TG2 | 274879 | 8625 | SH |  | SOLE |  | 8625 | 0 | 0 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 632220 | 9939 | SH |  | SOLE |  | 9939 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG001S5PXL2 | 329216 | 9414 | SH |  | SOLE |  | 9414 | 0 | 0 |
| COMPASS DIVERSIFIED | SH BEN INT | 20451Q104 | BBG001SPY7K6 | 7185812 | 394175 | SH |  | SOLE |  | 394175 | 0 | 0 |
| CONAGRA BRANDS INC | COM | 205887102 | BBG001S5PGY5 | 282897 | 7310 | SH |  | SOLE |  | 7310 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 | BBG001SD31G5 | 334879 | 1445 | SH |  | SOLE |  | 1445 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 267681 | 586 | SH |  | SOLE |  | 586 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 | BBG001S7W5T3 | 840019 | 6193 | SH |  | SOLE |  | 6193 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 | BBG001S5QGT0 | 1081900 | 4076 | SH |  | SOLE |  | 4076 | 0 | 0 |
| DEERE  CO | COM | 244199105 | BBG001S5QFF7 | 1243764 | 2901 | SH |  | SOLE |  | 2901 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 | BBG001S63VG4 | 6679371 | 108590 | SH |  | SOLE |  | 108590 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 | BBG001SM0K30 | 673113 | 6713 | SH |  | SOLE |  | 6713 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 2901034 | 33391 | SH |  | SOLE |  | 33391 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 | BBG001T5BM30 | 322834 | 1311 | SH |  | SOLE |  | 1311 | 0 | 0 |
| DOW INC | COM | 260557103 | BBG00BN96931 | 10179803 | 202020 | SH |  | SOLE |  | 202020 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 | BBG001S5QNR7 | 389199 | 3779 | SH |  | SOLE |  | 3779 | 0 | 0 |
| EASTERLY GOVT PPTYS INC | COM | 27616P103 | BBG007SV91T2 | 6306184 | 441919 | SH |  | SOLE |  | 441919 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 | BBG001S5QZ45 | 286277 | 1824 | SH |  | SOLE |  | 1824 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 | BBG001SDHNW4 | 4935938 | 415833 | SH |  | SOLE |  | 415833 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 | BBG001S9P0Z1 | 5380120 | 223056 | SH |  | SOLE |  | 223056 | 0 | 0 |
| EVEREST RE GROUP LTD | COM | G3223R108 | BBG001S7QT63 | 1966750 | 5937 | SH |  | SOLE |  | 5937 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 998061 | 9049 | SH |  | SOLE |  | 9049 | 0 | 0 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 3336422 | 33011 | SH |  | SOLE |  | 33011 | 0 | 0 |
| FOOT LOCKER INC | COM | 344849104 | BBG001S5XMR1 | 8793204 | 232686 | SH |  | SOLE |  | 232686 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 | BBG001S5R3F3 | 4453904 | 117208 | SH |  | SOLE |  | 117208 | 0 | 0 |
| FTAI AVIATION LTD | SHS | G3730V105 | BBG019M62R54 | 5928768 | 346307 | SH |  | SOLE |  | 346307 | 0 | 0 |
| GLOBAL PARTNERS LP | COM UNITS | 37946R109 | BBG001SH3WJ5 | 815217 | 23446 | SH |  | SOLE |  | 23446 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 614994 | 1791 | SH |  | SOLE |  | 1791 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 | BBG001SD6SM6 | 1821763 | 51843 | SH |  | SOLE |  | 51843 | 0 | 0 |
| GXO LOGISTICS INCORPORATED | COMMON STOCK | 36262G101 | BBG00YDGX9Z1 | 2263723 | 53027 | SH |  | SOLE |  | 53027 | 0 | 0 |
| HALEON PLC | SPON ADS | 405552100 | BBG018GZNDB0 | 550912 | 68864 | SH |  | SOLE |  | 68864 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 | BBG001S5RS59 | 237123 | 6026 | SH |  | SOLE |  | 6026 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 | BBG001SDPHZ5 | 8345302 | 631263 | SH |  | SOLE |  | 631263 | 0 | 0 |
| HIGH INCOME SECS FD | SHS BEN INT | 42968F108 | BBG001S5V1Z0 | 113750 | 17500 | SH |  | SOLE |  | 17500 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 1122512 | 3554 | SH |  | SOLE |  | 3554 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 | BBG001S5X1N1 | 332512 | 1552 | SH |  | SOLE |  | 1552 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 | BBG001S5RY83 | 614876 | 38310 | SH |  | SOLE |  | 38310 | 0 | 0 |
| HUBBELL INC | COM | 443510607 | BBG001S5S1L9 | 234680 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| INSIGHT SELECT INCOME FD | COM | 45781W109 | BBG001S63V10 | 151266 | 10011 | SH |  | SOLE |  | 10011 | 0 | 0 |
| INTEL CORP | COM | 458140100 | BBG001S5SF65 | 1703456 | 64452 | SH |  | SOLE |  | 64452 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 11320230 | 80348 | SH |  | SOLE |  | 80348 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 | BBG00KJR2NN7 | 702154 | 4971 | SH |  | SOLE |  | 4971 | 0 | 0 |
| IRON MTN INC DEL | COM | 46284V101 | BBG001SCQ2X1 | 10261892 | 205855 | SH |  | SOLE |  | 205855 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 | BBG001SFC7W9 | 219186 | 2316 | SH |  | SOLE |  | 2316 | 0 | 0 |
| ISHARES TR | EAFE VALUE ETF | 464288877 | BBG001SNYBH6 | 269729 | 5879 | SH |  | SOLE |  | 5879 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 | BBG001SGYSW7 | 213346 | 1625 | SH |  | SOLE |  | 1625 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 | BBG001SG09V7 | 584887 | 8911 | SH |  | SOLE |  | 8911 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 | BBG001SJCNS1 | 2707308 | 40138 | SH |  | SOLE |  | 40138 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 | BBG001SDJVG2 | 3051783 | 25305 | SH |  | SOLE |  | 25305 | 0 | 0 |
| JETBLUE AWYS CORP | COM | 477143101 | BBG001S9YPC1 | 1813914 | 279925 | SH |  | SOLE |  | 279925 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 2618624 | 14824 | SH |  | SOLE |  | 14824 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG001S8CRC3 | 1458856 | 10879 | SH |  | SOLE |  | 10879 | 0 | 0 |
| KB FINL GROUP INC | SPONSORED ADR | 48241A105 | BBG001T309X3 | 2750504 | 71146 | SH |  | SOLE |  | 71146 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 | BBG001S5SLZ0 | 241228 | 1777 | SH |  | SOLE |  | 1777 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 | BBG001TG2YZ5 | 5302559 | 293283 | SH |  | SOLE |  | 293283 | 0 | 0 |
| KOHLS CORP | COM | 500255104 | BBG001S71NV5 | 7623505 | 301921 | SH |  | SOLE |  | 301921 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 | BBG005CPNTR1 | 304633 | 7483 | SH |  | SOLE |  | 7483 | 0 | 0 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 | BBG001S7RX54 | 430457 | 1828 | SH |  | SOLE |  | 1828 | 0 | 0 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 | BBG001S8KJC2 | 9814296 | 103965 | SH |  | SOLE |  | 103965 | 0 | 0 |
| LAZARD LTD | SHS A | G54050102 | BBG001S711C4 | 679879 | 19610 | SH |  | SOLE |  | 19610 | 0 | 0 |
| LIFE STORAGE INC | COM | 53223X107 | BBG001S7X2Q2 | 241325 | 2450 | SH |  | SOLE |  | 2450 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 | BBG001S5STL8 | 2038095 | 5571 | SH |  | SOLE |  | 5571 | 0 | 0 |
| LINDE PLC | SHS | G5494J103 | BBG00GVR8YR8 | 203210 | 623 | SH |  | SOLE |  | 623 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG001S7PS57 | 801249 | 1647 | SH |  | SOLE |  | 1647 | 0 | 0 |
| LOWES COS INC | COM | 548661107 | BBG001S5SVL3 | 768557 | 3857 | SH |  | SOLE |  | 3857 | 0 | 0 |
| LUMEN TECHNOLOGIES INC | COM | 550241103 | BBG001S5Q8G2 | 493081 | 94460 | SH |  | SOLE |  | 94460 | 0 | 0 |
| MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 | BBG001S731Q7 | 5787656 | 115269 | SH |  | SOLE |  | 115269 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 | BBG001S78K44 | 3006089 | 20190 | SH |  | SOLE |  | 20190 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG001SKNNS6 | 216636 | 623 | SH |  | SOLE |  | 623 | 0 | 0 |
| MATERION CORP | COM | 576690101 | BBG001S5PFQ6 | 3032572 | 34654 | SH |  | SOLE |  | 34654 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 | BBG001S5T110 | 1547527 | 5872 | SH |  | SOLE |  | 5872 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 | BBG001S8F8P8 | 214194 | 571 | SH |  | SOLE |  | 571 | 0 | 0 |
| MEDICAL PPTYS TRUST INC | COM | 58463J304 | BBG001S7WM61 | 306687 | 27530 | SH |  | SOLE |  | 27530 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG001S5T2S9 | 1433856 | 18449 | SH |  | SOLE |  | 18449 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 1434951 | 12933 | SH |  | SOLE |  | 12933 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 1666709 | 13850 | SH |  | SOLE |  | 13850 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 4815072 | 20078 | SH |  | SOLE |  | 20078 | 0 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 | BBG001S7HZ69 | 649782 | 4139 | SH |  | SOLE |  | 4139 | 0 | 0 |
| MINIM INC | COM | 60365W102 | BBG001T495P9 | 4698 | 24988 | SH |  | SOLE |  | 24988 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 | BBG001SHHZJ3 | 283796 | 4258 | SH |  | SOLE |  | 4258 | 0 | 0 |
| MSA SAFETY INC | COM | 553498106 | BBG001S5TCN2 | 338126 | 2345 | SH |  | SOLE |  | 2345 | 0 | 0 |
| NATIONAL GRID PLC | SPONSORED ADR NE | 636274409 | BBG001SD9VH2 | 1596128 | 26461 | SH |  | SOLE |  | 26461 | 0 | 0 |
| NATIONAL RETAIL PROPERTIES I | COM | 637417106 | BBG001S6Z1P5 | 8987206 | 196399 | SH |  | SOLE |  | 196399 | 0 | 0 |
| NATIONAL STORAGE AFFILIATES | COM SHS BEN IN | 637870106 | BBG008417VP2 | 371133 | 10275 | SH |  | SOLE |  | 10275 | 0 | 0 |
| NAVIENT CORPORATION | COM | 63938C108 | BBG004MN1R50 | 6157367 | 374308 | SH |  | SOLE |  | 374308 | 0 | 0 |
| NEW YORK CMNTY BANCORP INC | COM | 649445103 | BBG001SD32Z2 | 6670392 | 775627 | SH |  | SOLE |  | 775627 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 | BBG001S5RB29 | 822235 | 9835 | SH |  | SOLE |  | 9835 | 0 | 0 |
| NEXTERA ENERGY PARTNERS LP | COM UNIT PART IN | 65341B106 | BBG006JNW312 | 643076 | 9175 | SH |  | SOLE |  | 9175 | 0 | 0 |
| NIKE INC | CL B | 654106103 | BBG001S6NTK2 | 412226 | 3523 | SH |  | SOLE |  | 3523 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 | BBG001S5TP26 | 3349500 | 6139 | SH |  | SOLE |  | 6139 | 0 | 0 |
| NUSTAR ENERGY LP | UNIT COM | 67058H102 | BBG001SFS805 | 645520 | 40345 | SH |  | SOLE |  | 40345 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 | BBG00JM9SM69 | 475937 | 6517 | SH |  | SOLE |  | 6517 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 487085 | 3333 | SH |  | SOLE |  | 3333 | 0 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 | BBG001S6WQT9 | 232700 | 820 | SH |  | SOLE |  | 820 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 | BBG001S5TWK1 | 4903782 | 74639 | SH |  | SOLE |  | 74639 | 0 | 0 |
| ORIX CORP | SPONSORED ADR | 686330101 | BBG001S5SFJ1 | 2323462 | 28856 | SH |  | SOLE |  | 28856 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 | BBG001T9NWN5 | 1706714 | 12231 | SH |  | SOLE |  | 12231 | 0 | 0 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 | BBG001S6L063 | 424405 | 25143 | SH |  | SOLE |  | 25143 | 0 | 0 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 1146782 | 6348 | SH |  | SOLE |  | 6348 | 0 | 0 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 11585811 | 226109 | SH |  | SOLE |  | 226109 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG001STP9N1 | 419414 | 4144 | SH |  | SOLE |  | 4144 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 | BBG00286S4P7 | 232827 | 2237 | SH |  | SOLE |  | 2237 | 0 | 0 |
| PIONEER NAT RES CO | COM | 723787107 | BBG001S7V1J4 | 3745824 | 16401 | SH |  | SOLE |  | 16401 | 0 | 0 |
| PLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 726503105 | BBG001S985K5 | 763106 | 64890 | SH |  | SOLE |  | 64890 | 0 | 0 |
| PLAINS GP HLDGS L P | LTD PARTNR INT A | 72651A207 | BBG001SZV282 | 124400 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| POSCO HOLDINGS INC | SPONSORED ADR | 693483109 | BBG001S65ZZ2 | 2599363 | 47721 | SH |  | SOLE |  | 47721 | 0 | 0 |
| POSTAL REALTY TRUST INC | CL A | 73757R102 | BBG00NSBGG83 | 5188009 | 357055 | SH |  | SOLE |  | 357055 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 1591642 | 10502 | SH |  | SOLE |  | 10502 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 | BBG001S5NMN6 | 751233 | 6664 | SH |  | SOLE |  | 6664 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 | BBG001S6VS70 | 280567 | 2552 | SH |  | SOLE |  | 2552 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 | BBG001S5X5Q9 | 583217 | 5779 | SH |  | SOLE |  | 5779 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 | BBG001S6PX49 | 4003548 | 5549 | SH |  | SOLE |  | 5549 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 | BBG001SB0LX9 | 3739559 | 52522 | SH |  | SOLE |  | 52522 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 | BBG001S5VRS1 | 1952293 | 16820 | SH |  | SOLE |  | 16820 | 0 | 0 |
| RXO INC | COMMON STOCK | 74982T103 | BBG0160DYDC7 | 755734 | 43938 | SH |  | SOLE |  | 43938 | 0 | 0 |
| SABRA HEALTH CARE REIT INC | COM | 78573L106 | BBG001SGNMK5 | 6052372 | 486916 | SH |  | SOLE |  | 486916 | 0 | 0 |
| SANDY SPRING BANCORP INC | COM | 800363103 | BBG001S6Y0J5 | 654115 | 18567 | SH |  | SOLE |  | 18567 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 | BBG001T5XQV6 | 638827 | 14149 | SH |  | SOLE |  | 14149 | 0 | 0 |
| SEAGATE TECHNOLOGY HLDNGS PL | ORD SHS | G7997R103 | BBG0113JGQG9 | 7742929 | 147176 | SH |  | SOLE |  | 147176 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | BBG001S7SCQ6 | 397361 | 2925 | SH |  | SOLE |  | 2925 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | BBG001S7T232 | 316727 | 3225 | SH |  | SOLE |  | 3225 | 0 | 0 |
| SEMPRA | COM | 816851109 | BBG001SBVZ73 | 594824 | 3849 | SH |  | SOLE |  | 3849 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 2473111 | 43426 | SH |  | SOLE |  | 43426 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 673630 | 5734 | SH |  | SOLE |  | 5734 | 0 | 0 |
| SL GREEN RLTY CORP | COM | 78440X887 | BBG001S9Z1V2 | 5653529 | 167661 | SH |  | SOLE |  | 167661 | 0 | 0 |
| SOLAREDGE TECHNOLOGIES INC | COM | 83417M104 | BBG0084BC0P2 | 347006 | 1225 | SH |  | SOLE |  | 1225 | 0 | 0 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 | BBG001SRXRD7 | 462758 | 14040 | SH |  | SOLE |  | 14040 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 1224937 | 3203 | SH |  | SOLE |  | 3203 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 | BBG001S63NQ1 | 2197567 | 4963 | SH |  | SOLE |  | 4963 | 0 | 0 |
| STAR BULK CARRIERS CORP. | SHS PAR | Y8162K204 | BBG001SPYW58 | 7952855 | 413565 | SH |  | SOLE |  | 413565 | 0 | 0 |
| SUMITOMO MITSUI FINL GROUP I | SPONSORED ADR | 86562M209 | BBG001SLH608 | 3301907 | 411709 | SH |  | SOLE |  | 411709 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 | BBG001S5VTR8 | 291831 | 914 | SH |  | SOLE |  | 914 | 0 | 0 |
| SYSCO CORP | COM | 871829107 | BBG001S5WJS8 | 3165718 | 41409 | SH |  | SOLE |  | 41409 | 0 | 0 |
| TEMPLETON GLOBAL INCOME FD | COM | 880198106 | BBG001S5RKQ3 | 119075 | 27500 | SH |  | SOLE |  | 27500 | 0 | 0 |
| TERADYNE INC | COM | 880770102 | BBG001S5WMZ3 | 1929736 | 22092 | SH |  | SOLE |  | 22092 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 | BBG001S5WS08 | 3103138 | 5635 | SH |  | SOLE |  | 5635 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 | BBG001S6WYD9 | 3605731 | 58082 | SH |  | SOLE |  | 58082 | 0 | 0 |
| TOYOTA MOTOR CORP | ADS | 892331307 | BBG001SDB327 | 2162471 | 15833 | SH |  | SOLE |  | 15833 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 | BBG001S5SBV6 | 366100 | 2178 | SH |  | SOLE |  | 2178 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MW4 | 3130546 | 126589 | SH |  | SOLE |  | 126589 | 0 | 0 |
| UMPQUA HLDGS CORP | COM | 904214103 | BBG001SBSCN0 | 8798551 | 492916 | SH |  | SOLE |  | 492916 | 0 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 | BBG001S5X1K4 | 2490244 | 49459 | SH |  | SOLE |  | 49459 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 746487 | 3605 | SH |  | SOLE |  | 3605 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 | BBG001SDGSH1 | 559958 | 3221 | SH |  | SOLE |  | 3221 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 | BBG001SBGZ25 | 4383039 | 12332 | SH |  | SOLE |  | 12332 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 671738 | 1267 | SH |  | SOLE |  | 1267 | 0 | 0 |
| UNUM GROUP | COM | 91529Y106 | BBG001S5X2J4 | 6952953 | 169460 | SH |  | SOLE |  | 169460 | 0 | 0 |
| VANECK ETF TRUST | MORTGAGE REIT | 92189F452 | BBG001ZSTNT4 | 233400 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 | BBG001SHVTS1 | 1382647 | 6784 | SH |  | SOLE |  | 6784 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 | BBG001SHVTR2 | 289016 | 1820 | SH |  | SOLE |  | 1820 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 | BBG001SHTTV0 | 5544009 | 30206 | SH |  | SOLE |  | 30206 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 | BBG001SP7T00 | 1304994 | 26027 | SH |  | SOLE |  | 26027 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 1883124 | 48310 | SH |  | SOLE |  | 48310 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 | BBG001SSPWL4 | 357702 | 8523 | SH |  | SOLE |  | 8523 | 0 | 0 |
| VANGUARD WORLD FD | EXTENDED DUR | 921910709 | BBG001SV5CV2 | 312683 | 3775 | SH |  | SOLE |  | 3775 | 0 | 0 |
| VANGUARD WORLD FDS | INF TECH ETF | 92204A702 | BBG001SHTTR5 | 239558 | 750 | SH |  | SOLE |  | 750 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 9389324 | 238308 | SH |  | SOLE |  | 238308 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 254090 | 1223 | SH |  | SOLE |  | 1223 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 | BBG001S5X8R2 | 280176 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 | BBG001SKJ4K1 | 212096 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| WESTERN ASSET HIGH INCOME OP | COM | 95766K109 | BBG001S7HQ69 | 343650 | 87000 | SH |  | SOLE |  | 87000 | 0 | 0 |
| WESTERN ASSET HIGH YIELD DEF | COM | 95768B107 | BBG001T9DBJ7 | 382824 | 30675 | SH |  | SOLE |  | 30675 | 0 | 0 |
| WESTERN UN CO | COM | 959802109 | BBG001SR0YK0 | 6368625 | 462500 | SH |  | SOLE |  | 462500 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 | BBG001S5XH10 | 4638209 | 140979 | SH |  | SOLE |  | 140979 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 | BBG001S7F0X8 | 308484 | 4400 | SH |  | SOLE |  | 4400 | 0 | 0 |
| XPO INC | COM | 983793100 | BBG001SJW3C0 | 1597088 | 47975 | SH |  | SOLE |  | 47975 | 0 | 0 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 | BBG001S7DQJ9 | 1436160 | 11264 | SH |  | SOLE |  | 11264 | 0 | 0 |

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