# EDGAR Filing Document

**Accession Number:** 0001738828
**File Stem:** 0001738828-25-000006
**Filing Date:** 2025-7
**Character Count:** 17043
**Document Hash:** ce3cf8de575c91fd328089dea208122d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001738828-25-000006.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001738828-25-000006

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**EFFECTIVENESS DATE**: 20250725

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pathway Financial Advisors LLC
- **CENTRAL INDEX KEY:** 0001738828

**ORGANIZATION NAME:**
- **EIN:** 200140604
- **STATE OF INCORPORATION:** VT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18736
- **FILM NUMBER:** 251151255

**BUSINESS ADDRESS:**
- **STREET 1:** 2 MARKET ST
- **CITY:** SOUTH BURLINGTON
- **STATE:** VT
- **ZIP:** 05403
- **BUSINESS PHONE:** 8026607086

**MAIL ADDRESS:**
- **STREET 1:** 2 MARKET ST
- **CITY:** SOUTH BURLINGTON
- **STATE:** VT
- **ZIP:** 05403

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Pathway Financial Advisors LLC<br>**Address:** 2 MARKET ST<br>SOUTH BURLINGTON, VT 05403

**Form 13F File Number:** 028-18736

**CRD Number (if applicable):** 000124801

**SEC File Number (if applicable):** 801-64598

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:** Scott Beaudin<br>**Title:** Manager and CCO<br>**Phone:** 802-660-7086

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

Scott Beaudin  South Burlington, VT  07-24-2025<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:** $683469659

      (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 |
| 2023 ETF SERIES TRUST II | GMO US QUALITY E | 90139K100 |  | 654640 | 19108 | SH |  | SOLE |  | 0 | 0 | 19108 |
| 2023 ETF SERIES TRUST II | GMO INTL VALUE | 90139K407 |  | 1120158 | 38368 | SH |  | SOLE |  | 0 | 0 | 38368 |
| 3M CO | COM | 88579Y101 |  | 200957 | 1320 | SH |  | SOLE |  | 0 | 0 | 1320 |
| ABBOTT LABS | COM | 002824100 |  | 474675 | 3490 | SH |  | SOLE |  | 0 | 0 | 3490 |
| ABBVIE INC | COM | 00287Y109 |  | 581388 | 3132 | SH |  | SOLE |  | 0 | 0 | 3132 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 757965 | 4301 | SH |  | SOLE |  | 0 | 0 | 4301 |
| AMAZON COM INC | COM | 023135106 |  | 405433 | 1848 | SH |  | SOLE |  | 0 | 0 | 1848 |
| AMERICAN CENTY ETF TR | US QUALITY GROW | 025072307 |  | 6938592 | 63587 | SH |  | SOLE |  | 0 | 0 | 63587 |
| APPLE INC | COM | 037833100 |  | 3169466 | 15448 | SH |  | SOLE |  | 0 | 0 | 15448 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 363356 | 748 | SH |  | SOLE |  | 0 | 0 | 748 |
| BNY MELLON ETF TRUST | CONCENTRATED INT | 09661T834 |  | 7162261 | 139482 | SH |  | SOLE |  | 0 | 0 | 139482 |
| BOEING CO | COM | 097023105 |  | 532835 | 2543 | SH |  | SOLE |  | 0 | 0 | 2543 |
| BROADCOM INC | COM | 11135F101 |  | 815924 | 2960 | SH |  | SOLE |  | 0 | 0 | 2960 |
| CATERPILLAR INC | COM | 149123101 |  | 1048299 | 2700 | SH |  | SOLE |  | 0 | 0 | 2700 |
| CHEVRON CORP NEW | COM | 166764100 |  | 260892 | 1822 | SH |  | SOLE |  | 0 | 0 | 1822 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 2189962 | 22786 | SH |  | SOLE |  | 0 | 0 | 22786 |
| CLOUGH GLOBAL EQUITY FD | COM | 18914C100 |  | 215195 | 30207 | SH |  | SOLE |  | 0 | 0 | 30207 |
| COCA COLA CO | COM | 191216100 |  | 318640 | 4504 | SH |  | SOLE |  | 0 | 0 | 4504 |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 |  | 587430 | 4500 | SH |  | SOLE |  | 0 | 0 | 4500 |
| COMMUNITY FINANCIAL SYSTEM I | COM | 203607106 |  | 238627 | 4196 | SH |  | SOLE |  | 0 | 0 | 4196 |
| DEERE  CO | COM | 244199105 |  | 1223427 | 2406 | SH |  | SOLE |  | 0 | 0 | 2406 |
| DISNEY WALT CO | COM | 254687106 |  | 217018 | 1750 | SH |  | SOLE |  | 0 | 0 | 1750 |
| EA SERIES TRUST | DISCIPLINE FUND | 02072L748 |  | 2033391 | 86564 | SH |  | SOLE |  | 0 | 0 | 86564 |
| EMERSON ELEC CO | COM | 291011104 |  | 253327 | 1900 | SH |  | SOLE |  | 0 | 0 | 1900 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 418717 | 3884 | SH |  | SOLE |  | 0 | 0 | 3884 |
| FLAHERTY  CRUMRINE PFD INCO | COM | 338480106 |  | 545095 | 48196 | SH |  | SOLE |  | 0 | 0 | 48196 |
| FLEXSHARES TR | MORNSTAR UPSTR | 33939L407 |  | 13126364 | 327259 | SH |  | SOLE |  | 0 | 0 | 327259 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 672252 | 2100 | SH |  | SOLE |  | 0 | 0 | 2100 |
| GE AEROSPACE | COM NEW | 369604301 |  | 220583 | 857 | SH |  | SOLE |  | 0 | 0 | 857 |
| GOLDMAN SACHS ETF TR | ACCES TREASURY | 381430529 |  | 119820938 | 1196415 | SH |  | SOLE |  | 0 | 0 | 1196415 |
| HECLA MNG CO | COM | 422704106 |  | 107820 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| HONEYWELL INTL INC | COM | 438516106 |  | 6307555 | 27085 | SH |  | SOLE |  | 0 | 0 | 27085 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C656 |  | 1976418 | 48335 | SH |  | SOLE |  | 0 | 0 | 48335 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 272647 | 925 | SH |  | SOLE |  | 0 | 0 | 925 |
| INVESCO ACTIVELY MANAGED EXC | TOTAL RETURN | 46090A804 |  | 619370 | 13209 | SH |  | SOLE |  | 0 | 0 | 13209 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2418941 | 4385 | SH |  | SOLE |  | 0 | 0 | 4385 |
| ISHARES INC | MSCI GERMANY ETF | 464286806 |  | 740425 | 17500 | SH |  | SOLE |  | 0 | 0 | 17500 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 22676800 | 377758 | SH |  | SOLE |  | 0 | 0 | 377758 |
| ISHARES INC | EM MKT SM-CP ETF | 464286475 |  | 2673830 | 41231 | SH |  | SOLE |  | 0 | 0 | 41231 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 281912 | 6821 | SH |  | SOLE |  | 0 | 0 | 6821 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 856872 | 8510 | SH |  | SOLE |  | 0 | 0 | 8510 |
| ISHARES TR | ESG EAFE ETF | 46436E759 |  | 385301 | 5176 | SH |  | SOLE |  | 0 | 0 | 5176 |
| ISHARES TR | ESG SELECT SCREE | 46436E544 |  | 469617 | 11874 | SH |  | SOLE |  | 0 | 0 | 11874 |
| ISHARES TR | ESG SELECT SCRE | 46436E551 |  | 438199 | 10559 | SH |  | SOLE |  | 0 | 0 | 10559 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 10098081 | 120964 | SH |  | SOLE |  | 0 | 0 | 120964 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 |  | 1005168 | 23257 | SH |  | SOLE |  | 0 | 0 | 23257 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 227422 | 2549 | SH |  | SOLE |  | 0 | 0 | 2549 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 |  | 310181 | 3690 | SH |  | SOLE |  | 0 | 0 | 3690 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 31415896 | 244292 | SH |  | SOLE |  | 0 | 0 | 244292 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 1242368 | 9200 | SH |  | SOLE |  | 0 | 0 | 9200 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 1267732 | 11481 | SH |  | SOLE |  | 0 | 0 | 11481 |
| ISHARES TR | GLOBAL MATER ETF | 464288695 |  | 14544526 | 170172 | SH |  | SOLE |  | 0 | 0 | 170172 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 745151 | 7132 | SH |  | SOLE |  | 0 | 0 | 7132 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 3067659 | 33355 | SH |  | SOLE |  | 0 | 0 | 33355 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 825146 | 5950 | SH |  | SOLE |  | 0 | 0 | 5950 |
| ISHARES TR | U.S. BAS MTL ETF | 464287838 |  | 1704201 | 12172 | SH |  | SOLE |  | 0 | 0 | 12172 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 5753677 | 64366 | SH |  | SOLE |  | 0 | 0 | 64366 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 232062 | 3742 | SH |  | SOLE |  | 0 | 0 | 3742 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 17464487 | 159800 | SH |  | SOLE |  | 0 | 0 | 159800 |
| ISHARES TR | S SML 600 GWT | 464287887 |  | 2182452 | 16404 | SH |  | SOLE |  | 0 | 0 | 16404 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 5718380 | 29262 | SH |  | SOLE |  | 0 | 0 | 29262 |
| ISHARES TR | CORE S ETF | 464287200 |  | 932334 | 1502 | SH |  | SOLE |  | 0 | 0 | 1502 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 3319515 | 30150 | SH |  | SOLE |  | 0 | 0 | 30150 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 1154538 | 3400 | SH |  | SOLE |  | 0 | 0 | 3400 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 2847412 | 14660 | SH |  | SOLE |  | 0 | 0 | 14660 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 503127 | 1185 | SH |  | SOLE |  | 0 | 0 | 1185 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 225716 | 1046 | SH |  | SOLE |  | 0 | 0 | 1046 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 561600 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 2284888 | 47365 | SH |  | SOLE |  | 0 | 0 | 47365 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 2609966 | 31590 | SH |  | SOLE |  | 0 | 0 | 31590 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 1403256 | 14146 | SH |  | SOLE |  | 0 | 0 | 14146 |
| ISHARES TR | MRGSTR SM CP ETF | 464288505 |  | 253502 | 4350 | SH |  | SOLE |  | 0 | 0 | 4350 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 202305 | 3973 | SH |  | SOLE |  | 0 | 0 | 3973 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 759660 | 4973 | SH |  | SOLE |  | 0 | 0 | 4973 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 788265 | 2719 | SH |  | SOLE |  | 0 | 0 | 2719 |
| LAVA THERAPEUTICS NV | SHS | N51517105 |  | 135300 | 102500 | SH |  | SOLE |  | 0 | 0 | 102500 |
| MARATHON PETE CORP | COM | 56585A102 |  | 258135 | 1554 | SH |  | SOLE |  | 0 | 0 | 1554 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 262368 | 1200 | SH |  | SOLE |  | 0 | 0 | 1200 |
| MATTHEWS ASIA FDS | EMERGING MKT DIS | 577125743 |  | 2253512 | 86078 | SH |  | SOLE |  | 0 | 0 | 86078 |
| MATTHEWS INTL FDS | PACIFIC TIGER AC | 577130578 |  | 7169096 | 245306 | SH |  | SOLE |  | 0 | 0 | 245306 |
| MCDONALDS CORP | COM | 580135101 |  | 298013 | 1020 | SH |  | SOLE |  | 0 | 0 | 1020 |
| MERCK  CO INC | COM | 58933Y105 |  | 205488 | 2596 | SH |  | SOLE |  | 0 | 0 | 2596 |
| META PLATFORMS INC | CL A | 30303M102 |  | 585305 | 793 | SH |  | SOLE |  | 0 | 0 | 793 |
| MICROSOFT CORP | COM | 594918104 |  | 3124232 | 6281 | SH |  | SOLE |  | 0 | 0 | 6281 |
| MOODYS CORP | COM | 615369105 |  | 300954 | 600 | SH |  | SOLE |  | 0 | 0 | 600 |
| MORGAN STANLEY ETF TRUST | CALVERT US LARCP | 61774R205 |  | 917255 | 11984 | SH |  | SOLE |  | 0 | 0 | 11984 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 486599 | 1901 | SH |  | SOLE |  | 0 | 0 | 1901 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 3534451 | 22371 | SH |  | SOLE |  | 0 | 0 | 22371 |
| ORACLE CORP | COM | 68389X105 |  | 201140 | 920 | SH |  | SOLE |  | 0 | 0 | 920 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 202793 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 707029 | 3882 | SH |  | SOLE |  | 0 | 0 | 3882 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 648432 | 4070 | SH |  | SOLE |  | 0 | 0 | 4070 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 651685 | 29488 | SH |  | SOLE |  | 0 | 0 | 29488 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 435964 | 17838 | SH |  | SOLE |  | 0 | 0 | 17838 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 339703 | 13427 | SH |  | SOLE |  | 0 | 0 | 13427 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 492836 | 16872 | SH |  | SOLE |  | 0 | 0 | 16872 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 506740 | 5975 | SH |  | SOLE |  | 0 | 0 | 5975 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 1418594 | 5602 | SH |  | SOLE |  | 0 | 0 | 5602 |
| SERVICENOW INC | COM | 81762P102 |  | 321789 | 313 | SH |  | SOLE |  | 0 | 0 | 313 |
| SIMPLIFY EXCHANGE TRADED FUN | US EQT PLS DWNSD | 82889N202 |  | 270486 | 7115 | SH |  | SOLE |  | 0 | 0 | 7115 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 210333 | 690 | SH |  | SOLE |  | 0 | 0 | 690 |
| SPDR INDEX SHS FDS | GLB NAT RESRCE | 78463X541 |  | 457297 | 8431 | SH |  | SOLE |  | 0 | 0 | 8431 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 15050208 | 24359 | SH |  | SOLE |  | 0 | 0 | 24359 |
| SPDR SERIES TRUST | PRTFLO S VL | 78464A508 |  | 509268 | 9730 | SH |  | SOLE |  | 0 | 0 | 9730 |
| SPDR SERIES TRUST | PORTFLI INTRMDIT | 78464A672 |  | 977921 | 33991 | SH |  | SOLE |  | 0 | 0 | 33991 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 5502699 | 59988 | SH |  | SOLE |  | 0 | 0 | 59988 |
| SUN LIFE FINANCIAL INC. | COM | 866796105 |  | 288327 | 4339 | SH |  | SOLE |  | 0 | 0 | 4339 |
| TESLA INC | COM | 88160R101 |  | 362489 | 1141 | SH |  | SOLE |  | 0 | 0 | 1141 |
| THE BALDWIN INSURANCE GRP IN | COM CL A | 05589G102 |  | 6025636 | 140753 | SH |  | SOLE |  | 0 | 0 | 140753 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 282632 | 2800 | SH |  | SOLE |  | 0 | 0 | 2800 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 286330 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 4596541 | 19396 | SH |  | SOLE |  | 0 | 0 | 19396 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 76148412 | 173696 | SH |  | SOLE |  | 0 | 0 | 173696 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 75680856 | 428204 | SH |  | SOLE |  | 0 | 0 | 428204 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 33985783 | 121452 | SH |  | SOLE |  | 0 | 0 | 121452 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 2951086 | 15133 | SH |  | SOLE |  | 0 | 0 | 15133 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1402335 | 4614 | SH |  | SOLE |  | 0 | 0 | 4614 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 919162 | 1618 | SH |  | SOLE |  | 0 | 0 | 1618 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 1395280 | 4891 | SH |  | SOLE |  | 0 | 0 | 4891 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 1951153 | 11864 | SH |  | SOLE |  | 0 | 0 | 11864 |
| VANGUARD INSTL INDEX FD | 0-3 MO TREAS BIL | 922040845 |  | 20559192 | 272127 | SH |  | SOLE |  | 0 | 0 | 272127 |
| VANGUARD INSTL INDEX FD | ULTRA-SHORT TREA | 922040852 |  | 22233552 | 294387 | SH |  | SOLE |  | 0 | 0 | 294387 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 341343 | 5078 | SH |  | SOLE |  | 0 | 0 | 5078 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1606531 | 32481 | SH |  | SOLE |  | 0 | 0 | 32481 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 29957961 | 500885 | SH |  | SOLE |  | 0 | 0 | 500885 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 8389042 | 40988 | SH |  | SOLE |  | 0 | 0 | 40988 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 792653 | 13904 | SH |  | SOLE |  | 0 | 0 | 13904 |
| VANGUARD WORLD FD | MEGA CAP INDEX | 921910873 |  | 574671 | 2555 | SH |  | SOLE |  | 0 | 0 | 2555 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 526817 | 8043 | SH |  | SOLE |  | 0 | 0 | 8043 |
| VANGUARD WORLD FD | MATERIALS ETF | 92204A801 |  | 1410569 | 7240 | SH |  | SOLE |  | 0 | 0 | 7240 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 1891675 | 2852 | SH |  | SOLE |  | 0 | 0 | 2852 |
| VICTORY PORTFOLIOS II | CORE INTERMEDIAT | 92647N527 |  | 16968723 | 360500 | SH |  | SOLE |  | 0 | 0 | 360500 |
| WORLD GOLD TR | SPDR GLD MINIS | 98149E303 |  | 1061096 | 16195 | SH |  | SOLE |  | 0 | 0 | 16195 |

---