# EDGAR Filing Document

**Accession Number:** 0002044324
**File Stem:** 0002044324-26-000001
**Filing Date:** 2026-2
**Character Count:** 17553
**Document Hash:** b19d0faddbfb08eddee07e315ff594b4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002044324-26-000001.hdr.sgml**: 20260211

**ACCESSION NUMBER**: 0002044324-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260211

**DATE AS OF CHANGE**: 20260211

**EFFECTIVENESS DATE**: 20260211

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CORNERSTONE ADVISORS ASSET MANAGEMENT, LLC
- **CENTRAL INDEX KEY:** 0002044324

**ORGANIZATION NAME:**
- **EIN:** 753204798
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24495
- **FILM NUMBER:** 26622120

**BUSINESS ADDRESS:**
- **STREET 1:** 74 WEST BROAD STREET
- **STREET 2:** SUITE 340
- **CITY:** BETHLEHEM
- **STATE:** PA
- **ZIP:** 18018
- **BUSINESS PHONE:** 610-694-0900

**MAIL ADDRESS:**
- **STREET 1:** 74 WEST BROAD STREET
- **STREET 2:** SUITE 340
- **CITY:** BETHLEHEM
- **STATE:** PA
- **ZIP:** 18018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CORNERSTONE ADVISORS ASSET MANAGEMENT, INC
- **DATE OF NAME CHANGE:** 20241108

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** CORNERSTONE ADVISORS ASSET MANAGEMENT LLC<br>**Address:** 74 WEST BROAD STREET<br>SUITE 340<br>BETHLEHEM, PA 18018

**Form 13F File Number:** 028-24495

**CRD Number (if applicable):** 000138638

**SEC File Number (if applicable):** 801-65091

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:** Christopher J. McKinley<br>**Title:** Chief Compliance Officer  Chief Operating Officer<br>**Phone:** 610-694-0900

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

Christopher J. McKinley  Bethlehem, PA  02-10-2026<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:** 133

**Form 13F Information Table Value Total:** $616187661

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 432000 | 3448 | SH |  | SOLE |  | 0 | 0 | 3448 |
| ABBVIE INC | COM | 00287Y109 |  | 743963 | 3256 | SH |  | SOLE |  | 0 | 0 | 3256 |
| ABRDN ETFS | BBRG ALL COMD K1 | 003261104 |  | 560726 | 28711 | SH |  | SOLE |  | 0 | 0 | 28711 |
| ALLSTATE CORP | COM | 020002101 |  | 208150 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 205539 | 655 | SH |  | SOLE |  | 0 | 0 | 655 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 386242 | 1234 | SH |  | SOLE |  | 0 | 0 | 1234 |
| AMAZON COM INC | COM | 023135106 |  | 462332 | 2003 | SH |  | SOLE |  | 0 | 0 | 2003 |
| APPLE INC | COM | 037833100 |  | 2493481 | 9172 | SH |  | SOLE |  | 0 | 0 | 9172 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 754800 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1337552 | 2661 | SH |  | SOLE |  | 0 | 0 | 2661 |
| BNY MELLON ETF TRUST | US LRG CP CORE | 09661T107 |  | 1870440 | 14300 | SH |  | SOLE |  | 0 | 0 | 14300 |
| BNY MELLON ETF TRUST | CONCENTRATED INT | 09661T834 |  | 545146 | 10571 | SH |  | SOLE |  | 0 | 0 | 10571 |
| BONDBLOXX ETF TRUST | IR M TAXAWARE | 09789C721 |  | 2496946 | 49230 | SH |  | SOLE |  | 0 | 0 | 49230 |
| CAPITAL GROUP INTL FOCUS EQT | SHS CREATION UNI | 14019W109 |  | 990344 | 33514 | SH |  | SOLE |  | 0 | 0 | 33514 |
| CAPITAL GRP FIXED INCM ETF T | CORE PLUS INCM | 14020Y102 |  | 3394371 | 149928 | SH |  | SOLE |  | 0 | 0 | 149928 |
| CAPITAL GRP FIXED INCM ETF T | MUNICIPAL INCOME | 14020Y201 |  | 4310625 | 157437 | SH |  | SOLE |  | 0 | 0 | 157437 |
| CHEVRON CORP NEW | COM | 166764100 |  | 306497 | 2011 | SH |  | SOLE |  | 0 | 0 | 2011 |
| CISCO SYS INC | COM | 17275R102 |  | 262364 | 3406 | SH |  | SOLE |  | 0 | 0 | 3406 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 341284 | 2836 | SH |  | SOLE |  | 0 | 0 | 2836 |
| META PLATFORMS INC | CL A | 30303M102 |  | 281198 | 426 | SH |  | SOLE |  | 0 | 0 | 426 |
| FLEXSHARES TR | MORNSTAR UPSTR | 33939L407 |  | 205683 | 4486 | SH |  | SOLE |  | 0 | 0 | 4486 |
| GOLDMAN SACHS ETF TR | EQUAL WEIGHT US | 381430438 |  | 15192820 | 178487 | SH |  | SOLE |  | 0 | 0 | 178487 |
| GOLDMAN SACHS ETF TR | ACCES TREASURY | 381430529 |  | 2817581 | 28189 | SH |  | SOLE |  | 0 | 0 | 28189 |
| HARTFORD FDS EXCHANGE TRADED | TOTAL RTRN ETF | 41653L305 |  | 33121377 | 969879 | SH |  | SOLE |  | 0 | 0 | 969879 |
| HOME DEPOT INC | COM | 437076102 |  | 220912 | 642 | SH |  | SOLE |  | 0 | 0 | 642 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUN | 45409F827 |  | 12441245 | 511354 | SH |  | SOLE |  | 0 | 0 | 511354 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUNI | 45409F843 |  | 15940960 | 665871 | SH |  | SOLE |  | 0 | 0 | 665871 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C573 |  | 1466979 | 35112 | SH |  | SOLE |  | 0 | 0 | 35112 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1427642 | 4820 | SH |  | SOLE |  | 0 | 0 | 4820 |
| INVESCO EXCH TRADED FD TR II | RUSEL 1000 EQL | 46138E420 |  | 366569 | 6964 | SH |  | SOLE |  | 0 | 0 | 6964 |
| ISHARES TR | S 100 ETF | 464287101 |  | 231989 | 676 | SH |  | SOLE |  | 0 | 0 | 676 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 6072870 | 43027 | SH |  | SOLE |  | 0 | 0 | 43027 |
| ISHARES TR | CORE S ETF | 464287200 |  | 31634962 | 46186 | SH |  | SOLE |  | 0 | 0 | 46186 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 3632935 | 36373 | SH |  | SOLE |  | 0 | 0 | 36373 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 5650693 | 58843 | SH |  | SOLE |  | 0 | 0 | 58843 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 3361453 | 50931 | SH |  | SOLE |  | 0 | 0 | 50931 |
| ISHARES TR | SELECT US REIT | 464287564 |  | 3134687 | 52534 | SH |  | SOLE |  | 0 | 0 | 52534 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 495863 | 2357 | SH |  | SOLE |  | 0 | 0 | 2357 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 7393893 | 15622 | SH |  | SOLE |  | 0 | 0 | 15622 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 872013 | 2335 | SH |  | SOLE |  | 0 | 0 | 2335 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 696390 | 3843 | SH |  | SOLE |  | 0 | 0 | 3843 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 3061492 | 12437 | SH |  | SOLE |  | 0 | 0 | 12437 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 2777841 | 23114 | SH |  | SOLE |  | 0 | 0 | 23114 |
| ISHARES TR | GL TIMB FORE ETF | 464288174 |  | 497949 | 6915 | SH |  | SOLE |  | 0 | 0 | 6915 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 210414 | 1763 | SH |  | SOLE |  | 0 | 0 | 1763 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 1399688 | 45210 | SH |  | SOLE |  | 0 | 0 | 45210 |
| ISHARES TR | EAFE VALUE ETF | 464288877 |  | 590479 | 8269 | SH |  | SOLE |  | 0 | 0 | 8269 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 1059616 | 46020 | SH |  | SOLE |  | 0 | 0 | 46020 |
| ISHARES TR | A RATE CP BD ETF | 46429B291 |  | 21534291 | 447791 | SH |  | SOLE |  | 0 | 0 | 447791 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 1490492 | 12256 | SH |  | SOLE |  | 0 | 0 | 12256 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 5291763 | 26643 | SH |  | SOLE |  | 0 | 0 | 26643 |
| ISHARES TR | MSCI USA VALUE | 46432F388 |  | 1149012 | 8404 | SH |  | SOLE |  | 0 | 0 | 8404 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 228359 | 2698 | SH |  | SOLE |  | 0 | 0 | 2698 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 2834345 | 31683 | SH |  | SOLE |  | 0 | 0 | 31683 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 754292 | 11221 | SH |  | SOLE |  | 0 | 0 | 11221 |
| ISHARES TR | CORE UNIVRSL USD | 46434V613 |  | 2870587 | 61680 | SH |  | SOLE |  | 0 | 0 | 61680 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 641233 | 9237 | SH |  | SOLE |  | 0 | 0 | 9237 |
| ISHARES TR | MSCI INTL VLU FT | 46435G409 |  | 1240772 | 32609 | SH |  | SOLE |  | 0 | 0 | 32609 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 529152 | 3552 | SH |  | SOLE |  | 0 | 0 | 3552 |
| ISHARES TR | INTL DIV GRWTH | 46435G524 |  | 3396964 | 41041 | SH |  | SOLE |  | 0 | 0 | 41041 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 18996850 | 189249 | SH |  | SOLE |  | 0 | 0 | 189249 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 273887 | 850 | SH |  | SOLE |  | 0 | 0 | 850 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 28559097 | 564632 | SH |  | SOLE |  | 0 | 0 | 564632 |
| JANUS DETROIT STR TR | HENDRSN SHRT ETF | 47103U886 |  | 207197 | 4216 | SH |  | SOLE |  | 0 | 0 | 4216 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 740196 | 3577 | SH |  | SOLE |  | 0 | 0 | 3577 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 258077 | 2558 | SH |  | SOLE |  | 0 | 0 | 2558 |
| LISTED FDS TR | HORIZON KINETICS | 53656F623 |  | 668278 | 15031 | SH |  | SOLE |  | 0 | 0 | 15031 |
| M  T BK CORP | COM | 55261F104 |  | 235603 | 1169 | SH |  | SOLE |  | 0 | 0 | 1169 |
| MCDONALDS CORP | COM | 580135101 |  | 448665 | 1468 | SH |  | SOLE |  | 0 | 0 | 1468 |
| MERCK  CO INC | COM | 58933Y105 |  | 213783 | 2031 | SH |  | SOLE |  | 0 | 0 | 2031 |
| MICROSOFT CORP | COM | 594918104 |  | 1314963 | 2719 | SH |  | SOLE |  | 0 | 0 | 2719 |
| MID PENN BANCORP INC | COM | 59540G107 |  | 221390 | 7137 | SH |  | SOLE |  | 0 | 0 | 7137 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 591299 | 2048 | SH |  | SOLE |  | 0 | 0 | 2048 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 948167 | 5084 | SH |  | SOLE |  | 0 | 0 | 5084 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 5875026 | 118472 | SH |  | SOLE |  | 0 | 0 | 118472 |
| PGIM ETF TR | AAA CLO ETF | 69344A834 |  | 981023 | 19138 | SH |  | SOLE |  | 0 | 0 | 19138 |
| PPL CORP | COM | 69351T106 |  | 705618 | 20149 | SH |  | SOLE |  | 0 | 0 | 20149 |
| PEOPLES FINL SVCS CORP | COM | 711040105 |  | 738103 | 15153 | SH |  | SOLE |  | 0 | 0 | 15153 |
| PEPSICO INC | COM | 713448108 |  | 234512 | 1634 | SH |  | SOLE |  | 0 | 0 | 1634 |
| PLAINS ALL AMERN PIPELINE L | UNIT LTD PARTN | 726503105 |  | 359200 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| PRINCIPAL EXCHANGE TRADED FD | SPECTRUM PFD | 74255Y888 |  | 11736433 | 615452 | SH |  | SOLE |  | 0 | 0 | 615452 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 331619 | 2314 | SH |  | SOLE |  | 0 | 0 | 2314 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 3109091 | 29875 | SH |  | SOLE |  | 0 | 0 | 29875 |
| ROSS STORES INC | COM | 778296103 |  | 360280 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 7819432 | 11467 | SH |  | SOLE |  | 0 | 0 | 11467 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 854841 | 2157 | SH |  | SOLE |  | 0 | 0 | 2157 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 309789 | 6618 | SH |  | SOLE |  | 0 | 0 | 6618 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 5769926 | 129924 | SH |  | SOLE |  | 0 | 0 | 129924 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A300 |  | 5744665 | 63149 | SH |  | SOLE |  | 0 | 0 | 63149 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A508 |  | 2307048 | 40610 | SH |  | SOLE |  | 0 | 0 | 40610 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A649 |  | 40703771 | 1580729 | SH |  | SOLE |  | 0 | 0 | 1580729 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 24440220 | 304665 | SH |  | SOLE |  | 0 | 0 | 304665 |
| SSGA ACTIVE ETF TR | STATE STREET MUL | 78467V103 |  | 1694726 | 53886 | SH |  | SOLE |  | 0 | 0 | 53886 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R200 |  | 410768 | 13367 | SH |  | SOLE |  | 0 | 0 | 13367 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 |  | 677000 | 7409 | SH |  | SOLE |  | 0 | 0 | 7409 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R853 |  | 16412406 | 350243 | SH |  | SOLE |  | 0 | 0 | 350243 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 686237 | 26162 | SH |  | SOLE |  | 0 | 0 | 26162 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 78478348 | 2915883 | SH |  | SOLE |  | 0 | 0 | 2915883 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 1147697 | 38760 | SH |  | SOLE |  | 0 | 0 | 38760 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 3946440 | 138569 | SH |  | SOLE |  | 0 | 0 | 138569 |
| SCHWAB STRATEGIC TR | MUN BD ETF | 808524649 |  | 3329222 | 129240 | SH |  | SOLE |  | 0 | 0 | 129240 |
| SCHWAB STRATEGIC TR | 1000 INDEX ETF | 808524722 |  | 6373314 | 194308 | SH |  | SOLE |  | 0 | 0 | 194308 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 7606810 | 316423 | SH |  | SOLE |  | 0 | 0 | 316423 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 272998 | 10306 | SH |  | SOLE |  | 0 | 0 | 10306 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 216385 | 746 | SH |  | SOLE |  | 0 | 0 | 746 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 442171 | 8985 | SH |  | SOLE |  | 0 | 0 | 8985 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 4690151 | 21340 | SH |  | SOLE |  | 0 | 0 | 21340 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 2391694 | 31703 | SH |  | SOLE |  | 0 | 0 | 31703 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 211449 | 2952 | SH |  | SOLE |  | 0 | 0 | 2952 |
| VANGUARD WORLD FD | MEGA GRWTH IND | 921910816 |  | 201621 | 488 | SH |  | SOLE |  | 0 | 0 | 488 |
| VANGUARD ADMIRAL FDS INC | SMLLCP 600 IDX | 921932828 |  | 656842 | 5920 | SH |  | SOLE |  | 0 | 0 | 5920 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 660408 | 8916 | SH |  | SOLE |  | 0 | 0 | 8916 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 614275 | 9833 | SH |  | SOLE |  | 0 | 0 | 9833 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 4163372 | 29009 | SH |  | SOLE |  | 0 | 0 | 29009 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 7021805 | 76783 | SH |  | SOLE |  | 0 | 0 | 76783 |
| VANGUARD MALVERN FDS | CORE-PLUS BD ETF | 922020755 |  | 3637737 | 46569 | SH |  | SOLE |  | 0 | 0 | 46569 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 766544 | 15498 | SH |  | SOLE |  | 0 | 0 | 15498 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 9505103 | 12610 | SH |  | SOLE |  | 0 | 0 | 12610 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 739022 | 5239 | SH |  | SOLE |  | 0 | 0 | 5239 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 43871278 | 596366 | SH |  | SOLE |  | 0 | 0 | 596366 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 303406 | 5644 | SH |  | SOLE |  | 0 | 0 | 5644 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 473054 | 5933 | SH |  | SOLE |  | 0 | 0 | 5933 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 |  | 2918489 | 29300 | SH |  | SOLE |  | 0 | 0 | 29300 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 3261728 | 64858 | SH |  | SOLE |  | 0 | 0 | 64858 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 290988 | 464 | SH |  | SOLE |  | 0 | 0 | 464 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 327658 | 1129 | SH |  | SOLE |  | 0 | 0 | 1129 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 12090906 | 38408 | SH |  | SOLE |  | 0 | 0 | 38408 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 1070185 | 2194 | SH |  | SOLE |  | 0 | 0 | 2194 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 850682 | 4454 | SH |  | SOLE |  | 0 | 0 | 4454 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 2372262 | 9197 | SH |  | SOLE |  | 0 | 0 | 9197 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 4115038 | 12274 | SH |  | SOLE |  | 0 | 0 | 12274 |
| WALMART INC | COM | 931142103 |  | 272063 | 2442 | SH |  | SOLE |  | 0 | 0 | 2442 |
| YUM BRANDS INC | COM | 988498101 |  | 635073 | 4198 | SH |  | SOLE |  | 0 | 0 | 4198 |

---