# EDGAR Filing Document

**Accession Number:** 0001722084
**File Stem:** 0001754960-23-000053
**Filing Date:** 2023-1
**Character Count:** 14610
**Document Hash:** e04d9d64afb21fac2b155322ef636841
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001754960-23-000053.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001754960-23-000053

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230130

**EFFECTIVENESS DATE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Shilanski & Associates, Inc.
- **CENTRAL INDEX KEY:** 0001722084
- **IRS NUMBER:** 920080869
- **STATE OF INCORPORATION:** AK
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19558
- **FILM NUMBER:** 23569511

**BUSINESS ADDRESS:**
- **STREET 1:** 431 W. 7TH AVENUE
- **STREET 2:** SUITE 100
- **CITY:** ANCHORAGE
- **STATE:** AK
- **ZIP:** 99501
- **BUSINESS PHONE:** 907-278-1351

**MAIL ADDRESS:**
- **STREET 1:** 431 W. 7TH AVENUE
- **STREET 2:** SUITE 100
- **CITY:** ANCHORAGE
- **STATE:** AK
- **ZIP:** 99501

### 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:** Shilanski  Associates Inc.<br>**Address:** 431 W. 7TH AVENUE<br>SUITE 100<br>ANCHORAGE, AK 99501

**Form 13F File Number:** 028-19558

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:** Aryn Sands<br>**Title:** Agent<br>**Phone:** 844-844-3453

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

Aryn Sands  Reno, NV  01-30-2023<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:** 113

**Form 13F Information Table Value Total:** $228796972

      (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 |
| CREDICORP LTD | COM | G2519Y108 |  | 208102 | 1534 | SH |  | SOLE |  | 0 | 0 | 1534 |
| TRITON INTL LTD | CL A | G9078F107 |  | 3986286 | 57957 | SH |  | SOLE |  | 0 | 0 | 57957 |
| UBS GROUP AG | SHS | H42097107 |  | 218962 | 11728 | SH |  | SOLE |  | 0 | 0 | 11728 |
| ICL GROUP LTD | SHS | M53213100 |  | 134891 | 18453 | SH |  | SOLE |  | 0 | 0 | 18453 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 208442 | 1315 | SH |  | SOLE |  | 0 | 0 | 1315 |
| DIANA SHIPPING INC | COM | Y2066G104 |  | 154164 | 39529 | SH |  | SOLE |  | 0 | 0 | 39529 |
| ABB LTD | SPONSORED ADR | 000375204 |  | 218490 | 7173 | SH |  | SOLE |  | 0 | 0 | 7173 |
| AFLAC INC | COM | 001055102 |  | 1327272 | 18450 | SH |  | SOLE |  | 0 | 0 | 18450 |
| ABBVIE INC | COM | 00287Y109 |  | 3376320 | 20892 | SH |  | SOLE |  | 0 | 0 | 20892 |
| AEGON N V | NY REGISTRY SHS | 007924103 |  | 203994 | 40475 | SH |  | SOLE |  | 0 | 0 | 40475 |
| ALASKA AIR GROUP INC | COM | 011659109 |  | 302421 | 7043 | SH |  | SOLE |  | 0 | 0 | 7043 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 3900146 | 85324 | SH |  | SOLE |  | 0 | 0 | 85324 |
| AMAZON COM INC | COM | 023135106 |  | 355320 | 4230 | SH |  | SOLE |  | 0 | 0 | 4230 |
| AMERICA MOVIL SAB DE CV | SPON ADR L SHS | 02364W105 |  | 199416 | 10957 | SH |  | SOLE |  | 0 | 0 | 10957 |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 |  | 1217498 | 8869 | SH |  | SOLE |  | 0 | 0 | 8869 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 3766884 | 24714 | SH |  | SOLE |  | 0 | 0 | 24714 |
| AMGEN INC | COM | 031162100 |  | 308486 | 1175 | SH |  | SOLE |  | 0 | 0 | 1175 |
| APA CORPORATION | COM | 03743Q108 |  | 1702637 | 36475 | SH |  | SOLE |  | 0 | 0 | 36475 |
| APPLE INC | COM | 037833100 |  | 2814822 | 21664 | SH |  | SOLE |  | 0 | 0 | 21664 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1142944 | 12310 | SH |  | SOLE |  | 0 | 0 | 12310 |
| BANCO BILBAO VIZCAYA ARGENTA | SPONSORED ADR | 05946K101 |  | 167805 | 27921 | SH |  | SOLE |  | 0 | 0 | 27921 |
| BANK AMERICA CORP | COM | 060505104 |  | 3336153 | 100729 | SH |  | SOLE |  | 0 | 0 | 100729 |
| BELDEN INC | COM | 077454106 |  | 1064341 | 14797 | SH |  | SOLE |  | 0 | 0 | 14797 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1370898 | 4438 | SH |  | SOLE |  | 0 | 0 | 4438 |
| BLOCK H  R INC | COM | 093671105 |  | 1130793 | 30836 | SH |  | SOLE |  | 0 | 0 | 30836 |
| BRASKEM S A | SP ADR PFD A | 105532105 |  | 488305 | 2096 | SH |  | SOLE |  | 0 | 0 | 2096 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 202989 | 5077 | SH |  | SOLE |  | 0 | 0 | 5077 |
| COTERRA ENERGY INC | COM | 127097103 |  | 1436037 | 58447 | SH |  | SOLE |  | 0 | 0 | 58447 |
| CENTRAIS ELETRICAS BRASILEIR | SPONSORED ADR | 15234Q207 |  | 208099 | 26242 | SH |  | SOLE |  | 0 | 0 | 26242 |
| CHEVRON CORP NEW | COM | 166764100 |  | 753633 | 4199 | SH |  | SOLE |  | 0 | 0 | 4199 |
| CISCO SYS INC | COM | 17275R102 |  | 3761742 | 78962 | SH |  | SOLE |  | 0 | 0 | 78962 |
| COCA COLA CO | COM | 191216100 |  | 4433696 | 69701 | SH |  | SOLE |  | 0 | 0 | 69701 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 557441 | 6466 | SH |  | SOLE |  | 0 | 0 | 6466 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 1318802 | 9864 | SH |  | SOLE |  | 0 | 0 | 9864 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 649090 | 3887 | SH |  | SOLE |  | 0 | 0 | 3887 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 1878110 | 30533 | SH |  | SOLE |  | 0 | 0 | 30533 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 243309 | 1365 | SH |  | SOLE |  | 0 | 0 | 1365 |
| DOW INC | COM | 260557103 |  | 331622 | 6581 | SH |  | SOLE |  | 0 | 0 | 6581 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 247754 | 2406 | SH |  | SOLE |  | 0 | 0 | 2406 |
| EQT CORP | COM | 26884L109 |  | 840411 | 24842 | SH |  | SOLE |  | 0 | 0 | 24842 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 1000224 | 3775 | SH |  | SOLE |  | 0 | 0 | 3775 |
| EQUINOR ASA | SPONSORED ADR | 29446M102 |  | 290097 | 8101 | SH |  | SOLE |  | 0 | 0 | 8101 |
| EXELON CORP | COM | 30161N101 |  | 943026 | 21814 | SH |  | SOLE |  | 0 | 0 | 21814 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 5482048 | 49701 | SH |  | SOLE |  | 0 | 0 | 49701 |
| F N B CORP | COM | 302520101 |  | 134676 | 10320 | SH |  | SOLE |  | 0 | 0 | 10320 |
| FIRST TR EXCHANGE-TRADED FD | FIRST TR ENH NEW | 33739Q408 |  | 7396997 | 124445 | SH |  | SOLE |  | 0 | 0 | 124445 |
| GENERAL MLS INC | COM | 370334104 |  | 3505428 | 41806 | SH |  | SOLE |  | 0 | 0 | 41806 |
| GENMAB A/S | SPONSORED ADS | 372303206 |  | 216986 | 5120 | SH |  | SOLE |  | 0 | 0 | 5120 |
| GERDAU SA | SPON ADR REP PFD | 373737105 |  | 136694 | 24674 | SH |  | SOLE |  | 0 | 0 | 24674 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 321611 | 14692 | SH |  | SOLE |  | 0 | 0 | 14692 |
| INTEL CORP | COM | 458140100 |  | 330410 | 12501 | SH |  | SOLE |  | 0 | 0 | 12501 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 4210691 | 29886 | SH |  | SOLE |  | 0 | 0 | 29886 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 234306 | 880 | SH |  | SOLE |  | 0 | 0 | 880 |
| INVESCO EXCH TRADED FD TR II | S HDL VOL | 46138E362 |  | 8585831 | 195889 | SH |  | SOLE |  | 0 | 0 | 195889 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 6594916 | 61959 | SH |  | SOLE |  | 0 | 0 | 61959 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1372519 | 3572 | SH |  | SOLE |  | 0 | 0 | 3572 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 1114329 | 11489 | SH |  | SOLE |  | 0 | 0 | 11489 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 272727 | 1271 | SH |  | SOLE |  | 0 | 0 | 1271 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 813880 | 11054 | SH |  | SOLE |  | 0 | 0 | 11054 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 668020 | 16337 | SH |  | SOLE |  | 0 | 0 | 16337 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 |  | 222552 | 47251 | SH |  | SOLE |  | 0 | 0 | 47251 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 223679 | 1668 | SH |  | SOLE |  | 0 | 0 | 1668 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 753354 | 15028 | SH |  | SOLE |  | 0 | 0 | 15028 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 212854 | 1205 | SH |  | SOLE |  | 0 | 0 | 1205 |
| KBR INC | COM | 48242W106 |  | 1261298 | 23888 | SH |  | SOLE |  | 0 | 0 | 23888 |
| KT CORP | SPONSORED ADR | 48268K101 |  | 205970 | 15257 | SH |  | SOLE |  | 0 | 0 | 15257 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 763617 | 21351 | SH |  | SOLE |  | 0 | 0 | 21351 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 1489814 | 5697 | SH |  | SOLE |  | 0 | 0 | 5697 |
| LILLY ELI  CO | COM | 532457108 |  | 1373244 | 3754 | SH |  | SOLE |  | 0 | 0 | 3754 |
| MCKESSON CORP | COM | 58155Q103 |  | 2075209 | 5527 | SH |  | SOLE |  | 0 | 0 | 5527 |
| MERCK  CO INC | COM | 58933Y105 |  | 361532 | 3259 | SH |  | SOLE |  | 0 | 0 | 3259 |
| MICROSOFT CORP | COM | 594918104 |  | 3629330 | 15134 | SH |  | SOLE |  | 0 | 0 | 15134 |
| MOSAIC CO NEW | COM | 61945C103 |  | 860942 | 19625 | SH |  | SOLE |  | 0 | 0 | 19625 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 1366103 | 21581 | SH |  | SOLE |  | 0 | 0 | 21581 |
| NATIONAL HEALTH INVS INC | COM | 63633D104 |  | 2593863 | 49239 | SH |  | SOLE |  | 0 | 0 | 49239 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 1031749 | 1891 | SH |  | SOLE |  | 0 | 0 | 1891 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 369343 | 2729 | SH |  | SOLE |  | 0 | 0 | 2729 |
| NUCOR CORP | COM | 670346105 |  | 291696 | 2213 | SH |  | SOLE |  | 0 | 0 | 2213 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 306239 | 2096 | SH |  | SOLE |  | 0 | 0 | 2096 |
| OLIN CORP | COM PAR $1 | 680665205 |  | 1250877 | 23628 | SH |  | SOLE |  | 0 | 0 | 23628 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 |  | 133775 | 12561 | SH |  | SOLE |  | 0 | 0 | 12561 |
| PFIZER INC | COM | 717081103 |  | 4352677 | 84947 | SH |  | SOLE |  | 0 | 0 | 84947 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 2327914 | 23001 | SH |  | SOLE |  | 0 | 0 | 23001 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 3851132 | 25410 | SH |  | SOLE |  | 0 | 0 | 25410 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 1273679 | 11898 | SH |  | SOLE |  | 0 | 0 | 11898 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 3824379 | 53713 | SH |  | SOLE |  | 0 | 0 | 53713 |
| ROYAL BK CDA SUSTAINABL | COM | 780087102 |  | 2852379 | 30338 | SH |  | SOLE |  | 0 | 0 | 30338 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 19219904 | 50257 | SH |  | SOLE |  | 0 | 0 | 50257 |
| SPDR SER TR | ICE PFD SEC ETF | 78464A292 |  | 3040478 | 92641 | SH |  | SOLE |  | 0 | 0 | 92641 |
| SPDR SER TR | PORTFOLIO INTRMD | 78464A375 |  | 6429469 | 201994 | SH |  | SOLE |  | 0 | 0 | 201994 |
| SPDR SER TR | PRTFLO S VL | 78464A508 |  | 6091319 | 156629 | SH |  | SOLE |  | 0 | 0 | 156629 |
| SPDR SER TR | PORTFOLIO AGRGTE | 78464A649 |  | 656647 | 26130 | SH |  | SOLE |  | 0 | 0 | 26130 |
| SPDR SER TR | PORTFOLI S | 78464A805 |  | 2587520 | 54716 | SH |  | SOLE |  | 0 | 0 | 54716 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 5672217 | 138685 | SH |  | SOLE |  | 0 | 0 | 138685 |
| SPDR SER TR | BLOOMBERG SHT TE | 78468R408 |  | 772462 | 31867 | SH |  | SOLE |  | 0 | 0 | 31867 |
| SPDR SER TR | BLOOMBERG HIGH Y | 78468R622 |  | 6362594 | 70695 | SH |  | SOLE |  | 0 | 0 | 70695 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 11989795 | 267570 | SH |  | SOLE |  | 0 | 0 | 267570 |
| SCHWAB STRATEGIC TR | SCHWB FDT INT SC | 808524748 |  | 4230316 | 135327 | SH |  | SOLE |  | 0 | 0 | 135327 |
| SCHWAB STRATEGIC TR | SCHWB FDT INT LG | 808524755 |  | 7148060 | 245891 | SH |  | SOLE |  | 0 | 0 | 245891 |
| SOUTHERN CO | COM | 842587107 |  | 4172457 | 58430 | SH |  | SOLE |  | 0 | 0 | 58430 |
| TARGET CORP | COM | 87612E106 |  | 2979915 | 19994 | SH |  | SOLE |  | 0 | 0 | 19994 |
| TATA MTRS LTD | SPONSORED ADR | 876568502 |  | 281988 | 12202 | SH |  | SOLE |  | 0 | 0 | 12202 |
| TENARIS S A | SPONSORED ADS | 88031M109 |  | 361832 | 10291 | SH |  | SOLE |  | 0 | 0 | 10291 |
| 3M CO | COM | 88579Y101 |  | 337899 | 2818 | SH |  | SOLE |  | 0 | 0 | 2818 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 362254 | 683 | SH |  | SOLE |  | 0 | 0 | 683 |
| UNUM GROUP | COM | 91529Y106 |  | 1751673 | 42692 | SH |  | SOLE |  | 0 | 0 | 42692 |
| VALMONT INDS INC | COM | 920253101 |  | 810142 | 2450 | SH |  | SOLE |  | 0 | 0 | 2450 |
| VANECK ETF TRUST | BDC INCOME ETF | 92189F411 |  | 2759014 | 194983 | SH |  | SOLE |  | 0 | 0 | 194983 |
| VANGUARD WORLD FDS | ENERGY ETF | 92204A306 |  | 4046867 | 33368 | SH |  | SOLE |  | 0 | 0 | 33368 |
| VANGUARD WORLD FDS | UTILITIES ETF | 92204A876 |  | 2778824 | 18120 | SH |  | SOLE |  | 0 | 0 | 18120 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 487119 | 12363 | SH |  | SOLE |  | 0 | 0 | 12363 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 |  | 298777 | 7997 | SH |  | SOLE |  | 0 | 0 | 7997 |
| YPF SOCIEDAD ANONIMA | SPON ADR CL D | 984245100 |  | 114287 | 12436 | SH |  | SOLE |  | 0 | 0 | 12436 |

---