# EDGAR Filing Document

**Accession Number:** 0001091961
**File Stem:** 0001437749-23-002810
**Filing Date:** 2023-2
**Character Count:** 20701
**Document Hash:** 7ea39513cadaf3bb6c494dc7ff29bb8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-002810.hdr.sgml**: 20230209

**ACCESSION NUMBER**: 0001437749-23-002810

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230208

**EFFECTIVENESS DATE**: 20230209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GOULD ASSET MANAGEMENT LLC /CA/
- **CENTRAL INDEX KEY:** 0001091961
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14118
- **FILM NUMBER:** 23600470

**BUSINESS ADDRESS:**
- **STREET 1:** 341 WEST FIRST STREET
- **STREET 2:** SUITE 200
- **CITY:** CLAREMONT
- **STATE:** CA
- **ZIP:** 91711
- **BUSINESS PHONE:** (909) 445-1291

**MAIL ADDRESS:**
- **STREET 1:** 341 WEST FIRST STREET
- **STREET 2:** SUITE 200
- **CITY:** CLAREMONT
- **STATE:** CA
- **ZIP:** 91711

### 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:** GOULD ASSET MANAGEMENT LLC /CA/<br>**Address:** 341 WEST FIRST STREET<br>SUITE 200<br>CLAREMONT, CA 91711

**Form 13F File Number:** 028-14118

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:** THOMAS K. CARR JR<br>**Title:** CHIEF COMPLIANCE OFFICER<br>**Phone:** 909-445-1291

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

/s/ THOMAS K. CARR JR  CLAREMONT, CA  02-08-2023<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:** 157

**Form 13F Information Table Value Total:** $332543643

      (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 LABORATORIES | COM | 002824100 |  | 500313 | 4557 | SH |  | SOLE |  | 4557 | 0 | 0 |
| ACCENTURELTD BERMUDA CL A ISI | SHS CLASS A | G1151C101 |  | 624850 | 2342 | SH |  | SOLE |  | 2342 | 0 | 0 |
| ALERIAN MLP ETF | ALERIAN MLP | 00162Q452 |  | 667976 | 17546 | SH |  | SOLE |  | 17546 | 0 | 0 |
| APPLE COMPUTER INC. | COM | 037833100 |  | 3325332 | 25593 | SH |  | SOLE |  | 25593 | 0 | 0 |
| AUTOMATIC DATA PROCESSING INC | COM | 053015103 |  | 216646 | 907 | SH |  | SOLE |  | 907 | 0 | 0 |
| BANCO BRADESCO SA ADR | SP ADR PFD NEW | 059460303 |  | 143623 | 49869 | SH |  | SOLE |  | 49869 | 0 | 0 |
| BERKSHIRE HATHAWAY  INC DEL C | CL B NEW | 084670702 |  | 384581 | 1245 | SH |  | SOLE |  | 1245 | 0 | 0 |
| BRF - BRASIL FOODS SA ADR | SPONSORED ADR | 10552T107 |  | 147082 | 93090 | SH |  | SOLE |  | 93090 | 0 | 0 |
| BRISTOL MYERS SQUIBB | COM | 110122108 |  | 626325 | 8705 | SH |  | SOLE |  | 8705 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 414315 | 741 | SH |  | SOLE |  | 741 | 0 | 0 |
| BUNGE LIMITED | COM | G16962105 |  | 400078 | 4010 | SH |  | SOLE |  | 4010 | 0 | 0 |
| C S X CORP | COM | 126408103 |  | 211439 | 6825 | SH |  | SOLE |  | 6825 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 294659 | 1230 | SH |  | SOLE |  | 1230 | 0 | 0 |
| CHARLES SCHWAB US REIT | US REIT ETF | 808524847 |  | 312787 | 16215 | SH |  | SOLE |  | 16215 | 0 | 0 |
| CHUBB CORP | COM | H1467J104 |  | 200967 | 911 | SH |  | SOLE |  | 911 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 402367 | 8446 | SH |  | SOLE |  | 8446 | 0 | 0 |
| CLAYMORE S GLOBAL WATER ETF | S GBL WATER | 46138E263 |  | 254312 | 5455 | SH |  | SOLE |  | 5455 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 492404 | 7741 | SH |  | SOLE |  | 7741 | 0 | 0 |
| COSTCO WHOLESALE CORP | COM | 22160K105 |  | 795390 | 1742 | SH |  | SOLE |  | 1742 | 0 | 0 |
| CRESUD S. A. C. I. F. Y. A. W | *W EXP 03/09/202 | P3311R259 |  | 10180 | 32840 | SH |  | SOLE |  | 32840 | 0 | 0 |
| CRESUD S.A.C.I.F.Y.A. SPONS A | SPONSORED ADR | 226406106 |  | 188712 | 28208 | SH |  | SOLE |  | 28208 | 0 | 0 |
| DIMENSIONAL US CORE EQUITY MA | US CORE EQT MKT | 25434V104 |  | 517433 | 19150 | SH |  | SOLE |  | 19150 | 0 | 0 |
| DIMENSIONAL WORLD EX US CORE | WORLD EX US CORE | 25434V880 |  | 2030832 | 94020 | SH |  | SOLE |  | 94020 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 218928 | 2520 | SH |  | SOLE |  | 2520 | 0 | 0 |
| ELEVANCE HEALTH INC. | COM | 036752103 |  | 208779 | 407 | SH |  | SOLE |  | 407 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 387911 | 9921 | SH |  | SOLE |  | 9921 | 0 | 0 |
| ENERGY TRANSFER LP | COM UT LTD PTN | 29273V100 |  | 442822 | 37306 | SH |  | SOLE |  | 37306 | 0 | 0 |
| ENTERPRISE PRODUCTS PARTNERS | COM | 293792107 |  | 394338 | 16349 | SH |  | SOLE |  | 16349 | 0 | 0 |
| EXXON MOBIL CORPORATION | COM | 30231G102 |  | 569700 | 5165 | SH |  | SOLE |  | 5165 | 0 | 0 |
| FIDELITY TOTAL BOND ETF | TOTAL BD ETF | 316188309 |  | 2801595 | 62230 | SH |  | SOLE |  | 62230 | 0 | 0 |
| FIRST TRUST GLOBAL WIND ENERG | GBL WND ENRG ETF | 33736G106 |  | 210178 | 12135 | SH |  | SOLE |  | 12135 | 0 | 0 |
| HOME DEPOT INC COM | COM | 437076102 |  | 1045218 | 3309 | SH |  | SOLE |  | 3309 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 277304 | 1294 | SH |  | SOLE |  | 1294 | 0 | 0 |
| INVESCO FINANCIAL PREFERRED E | FINL PFD ETF | 46137V621 |  | 420106 | 29174 | SH |  | SOLE |  | 29174 | 0 | 0 |
| INVESCO PREFERRED ETF | PFD ETF | 46138E511 |  | 603072 | 53942 | SH |  | SOLE |  | 53942 | 0 | 0 |
| INVESCO TAXABLE MUNICIPAL BON | TAXABLE MUN BD | 46138G805 |  | 10768312 | 418838 | SH |  | SOLE |  | 418838 | 0 | 0 |
| ISHARES 0-5 YEAR TIPS BOND ET | 0-5 YR TIPS ETF | 46429B747 |  | 9834730 | 101431 | SH |  | SOLE |  | 101431 | 0 | 0 |
| ISHARES BARCLAYS 10-20 YEAR T | 10-20 YR TRS ETF | 464288653 |  | 1131563 | 10460 | SH |  | SOLE |  | 10460 | 0 | 0 |
| ISHARES BARCLAYS 20  YEAR TRE | 20 YR TR BD ETF | 464287432 |  | 10308193 | 103537 | SH |  | SOLE |  | 103537 | 0 | 0 |
| ISHARES BARCLAYS SHORT TREASU | SHORT TREAS BD | 464288679 |  | 1816318 | 16524 | SH |  | SOLE |  | 16524 | 0 | 0 |
| ISHARES BARCLAYS TIPS BOND ET | TIPS BD ETF | 464287176 |  | 663783 | 6236 | SH |  | SOLE |  | 6236 | 0 | 0 |
| ISHARES CALIFORNIA MUNI BOND | CALIF MUN BD ETF | 464288356 |  | 1597452 | 28470 | SH |  | SOLE |  | 28470 | 0 | 0 |
| ISHARES DOW JONES SELECT DIVI | SELECT DIVID ETF | 464287168 |  | 1491219 | 12365 | SH |  | SOLE |  | 12365 | 0 | 0 |
| ISHARES ESG 1-5 YEAR USD CORP | ESG AWRE 1 5 YR | 46435G243 |  | 254696 | 10715 | SH |  | SOLE |  | 10715 | 0 | 0 |
| ISHARES ESG ADVANCED MSCI EAF | ESG EAFE ETF | 46436E759 |  | 497927 | 9175 | SH |  | SOLE |  | 9175 | 0 | 0 |
| ISHARES ESG ADVANCED MSCI USA | ESG MSCI USA ETF | 46436E767 |  | 735840 | 24000 | SH |  | SOLE |  | 24000 | 0 | 0 |
| ISHARES ESG SCREENED S 500 | ESG SCRND S | 46436E569 |  | 622527 | 21900 | SH |  | SOLE |  | 21900 | 0 | 0 |
| ISHARES ESG U.S. AGGREGATE BO | ESG AWR US AGRGT | 46435U549 |  | 354429 | 7583 | SH |  | SOLE |  | 7583 | 0 | 0 |
| ISHARES FTSE CHINA INDEX ETF | CHINA LG-CAP ETF | 464287184 |  | 216891 | 7664 | SH |  | SOLE |  | 7664 | 0 | 0 |
| ISHARES GOLD TRUST | ISHARES NEW | 464285204 |  | 2225037 | 64326 | SH |  | SOLE |  | 64326 | 0 | 0 |
| ISHARES IBONDS DEC 2023 TERM | IBONDS DEC23 ETF | 46434VAX8 |  | 467060 | 18660 | SH |  | SOLE |  | 18660 | 0 | 0 |
| ISHARES IBONDS DEC 2023 TERM | IBONDS DEC2023 | 46435G318 |  | 383292 | 15120 | SH |  | SOLE |  | 15120 | 0 | 0 |
| ISHARES IBONDS DEC 2024 TERM | IBONDS DEC24 ETF | 46434VBG4 |  | 467643 | 19150 | SH |  | SOLE |  | 19150 | 0 | 0 |
| ISHARES IBONDS DEC 2024 TERM | IBONDS DEC | 46435U697 |  | 384061 | 14915 | SH |  | SOLE |  | 14915 | 0 | 0 |
| ISHARES IBONDS DEC 2025 TERM | IBONDS DEC25 ETF | 46434VBD1 |  | 467795 | 19235 | SH |  | SOLE |  | 19235 | 0 | 0 |
| ISHARES IBONDS DEC 2025 TERM | IBONDS DEC 25 | 46435U432 |  | 385529 | 14620 | SH |  | SOLE |  | 14620 | 0 | 0 |
| ISHARES IBONDS TERM TREASURY | IBONDS 23 TRM TS | 46436E882 |  | 464978 | 18825 | SH |  | SOLE |  | 18825 | 0 | 0 |
| ISHARES IBONDS TERM TREASURY | IBONDS 24 TRM TS | 46436E874 |  | 465314 | 19510 | SH |  | SOLE |  | 19510 | 0 | 0 |
| ISHARES IBONDS TERM TREASURY | IBONDS 25 TRM TS | 46436E866 |  | 466415 | 20035 | SH |  | SOLE |  | 20035 | 0 | 0 |
| ISHARES INC MSCI EM ESG OPT | ESG AWR MSCI EM | 46434G863 |  | 662141 | 22020 | SH |  | SOLE |  | 22020 | 0 | 0 |
| ISHARES INC MSCI EMRG MKTS SM | EM MKT SM-CP ETF | 464286475 |  | 241159 | 4995 | SH |  | SOLE |  | 4995 | 0 | 0 |
| ISHARES MSCI ACWI LOW CARBON | MSCI LW CRB TG | 46434V464 |  | 1322046 | 9570 | SH |  | SOLE |  | 9570 | 0 | 0 |
| ISHARES MSCI AUSTRALIA INDEX | MSCI AUST ETF | 464286103 |  | 227079 | 10215 | SH |  | SOLE |  | 10215 | 0 | 0 |
| ISHARES MSCI CANADA INDEX ETF | MSCI CDA ETF | 464286509 |  | 713337 | 21795 | SH |  | SOLE |  | 21795 | 0 | 0 |
| ISHARES MSCI EAFE INDEX ETF | MSCI EAFE ETF | 464287465 |  | 5193109 | 79115 | SH |  | SOLE |  | 79115 | 0 | 0 |
| ISHARES MSCI EMERGING MARKETS | MSCI EMG MKT ETF | 464287234 |  | 552772 | 14585 | SH |  | SOLE |  | 14585 | 0 | 0 |
| ISHARES MSCI HONG KONG INDEX | MSCI HONG KG ETF | 464286871 |  | 573174 | 27281 | SH |  | SOLE |  | 27281 | 0 | 0 |
| ISHARES MSCI INDIA SMALL-CAP | MSCI INDIA SM CP | 46429B614 |  | 285198 | 5510 | SH |  | SOLE |  | 5510 | 0 | 0 |
| ISHARES MSCI KLD | MSCI KLD400 SOC | 464288570 |  | 242866 | 3383 | SH |  | SOLE |  | 3383 | 0 | 0 |
| ISHARES MSCI MEXICO INVESTABL | MSCI MEXICO ETF | 464286822 |  | 350848 | 7095 | SH |  | SOLE |  | 7095 | 0 | 0 |
| ISHARES MSCI SINGAPORE INDEX | MSCI SINGPOR ETF | 46434G780 |  | 444367 | 23624 | SH |  | SOLE |  | 23624 | 0 | 0 |
| ISHARES MSCI SOUTH KOREA INDE | MSCI STH KOR ETF | 464286772 |  | 541756 | 9592 | SH |  | SOLE |  | 9592 | 0 | 0 |
| ISHARES MSCI TAIWAN INDEX ETF | MSCI TAIWAN ETF | 46434G772 |  | 659226 | 16415 | SH |  | SOLE |  | 16415 | 0 | 0 |
| ISHARES MSCI USA ESG OPTIMIZE | ESG AWR MSCI USA | 46435G425 |  | 1368628 | 16149 | SH |  | SOLE |  | 16149 | 0 | 0 |
| ISHARES MSCI USA ESG SELECT E | MSCI USA ESG SLC | 464288802 |  | 1245749 | 15133 | SH |  | SOLE |  | 15133 | 0 | 0 |
| ISHARES RUSSELL 1000 ETF | RUS 1000 ETF | 464287622 |  | 250308 | 1189 | SH |  | SOLE |  | 1189 | 0 | 0 |
| ISHARES S 500 INDEX ETF | CORE S ETF | 464287200 |  | 10693333 | 27832 | SH |  | SOLE |  | 27832 | 0 | 0 |
| ISHARES S NATL AMTFREE MUNI | NATIONAL MUN ETF | 464288414 |  | 479061 | 4540 | SH |  | SOLE |  | 4540 | 0 | 0 |
| ISHARES S SHORT-TERM NATION | SHRT NAT MUN ETF | 464288158 |  | 503103 | 4825 | SH |  | SOLE |  | 4825 | 0 | 0 |
| ISHARES TR DOW JONES U S REAL | U.S. REAL ES ETF | 464287739 |  | 629320 | 7475 | SH |  | SOLE |  | 7475 | 0 | 0 |
| ISHARES TR GOLDMAN  SACHS COR | IBOXX INV CP ETF | 464287242 |  | 253981 | 2409 | SH |  | SOLE |  | 2409 | 0 | 0 |
| ISHARES TR INTL SEL DIV ETF | INTL SEL DIV ETF | 464288448 |  | 1139090 | 41940 | SH |  | SOLE |  | 41940 | 0 | 0 |
| ISHARES TR INTRM TR CRP ETF | ISHS 5-10YR INVT | 464288638 |  | 469107 | 9475 | SH |  | SOLE |  | 9475 | 0 | 0 |
| ISHARES TR MSCI EAFE ESG OPT | ESG AW MSCI EAFE | 46435G516 |  | 1728765 | 26297 | SH |  | SOLE |  | 26297 | 0 | 0 |
| ISHARES TR S 100  INDEX FUN | S 100 ETF | 464287101 |  | 257390 | 1509 | SH |  | SOLE |  | 1509 | 0 | 0 |
| ISHARES TRUST CORE MSCI EAFE | CORE MSCI EAFE | 46432F842 |  | 332055 | 5387 | SH |  | SOLE |  | 5387 | 0 | 0 |
| ISHARES ULTRA SHORT-TERM BOND | BLACKROCK ULTRA | 46434V878 |  | 462281 | 9238 | SH |  | SOLE |  | 9238 | 0 | 0 |
| ISHARES US PREFERRED STOCK ET | PFD AND INCM SEC | 464288687 |  | 222716 | 7295 | SH |  | SOLE |  | 7295 | 0 | 0 |
| ISHARES ESG SCREENED S MID | ESG SCRD S MID | 46436E551 |  | 805309 | 24550 | SH |  | SOLE |  | 24550 | 0 | 0 |
| ITAU UNIBANCO HOLDING SA ADR | SPON ADR REP PFD | 465562106 |  | 170337 | 36165 | SH |  | SOLE |  | 36165 | 0 | 0 |
| J P MORGAN CHASE  CO COM ISI | COM | 46625H100 |  | 882378 | 6580 | SH |  | SOLE |  | 6580 | 0 | 0 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 590894 | 3345 | SH |  | SOLE |  | 3345 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 225357 | 616 | SH |  | SOLE |  | 616 | 0 | 0 |
| LINDE PLC | SHS | G5494J103 |  | 223433 | 685 | SH |  | SOLE |  | 685 | 0 | 0 |
| LOCKHEED MARTIN CORP  COM | COM | 539830109 |  | 252975 | 520 | SH |  | SOLE |  | 520 | 0 | 0 |
| LOWES COMPANIES | COM | 548661107 |  | 467550 | 2347 | SH |  | SOLE |  | 2347 | 0 | 0 |
| MARKET VECTORS AGRIBUSINESS E | AGRIBUSINESS ETF | 92189F700 |  | 242670 | 2827 | SH |  | SOLE |  | 2827 | 0 | 0 |
| MARKET VECTORS BRAZIL SMALL C | BRAZIL SMALL CAP | 92189F825 |  | 193919 | 14375 | SH |  | SOLE |  | 14375 | 0 | 0 |
| MASTERCARD INC CL A | CL A | 57636Q104 |  | 638085 | 1835 | SH |  | SOLE |  | 1835 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 877175 | 3329 | SH |  | SOLE |  | 3329 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 235547 | 2123 | SH |  | SOLE |  | 2123 | 0 | 0 |
| MICROSOFT CORPORATION | COM | 594918104 |  | 2088648 | 8709 | SH |  | SOLE |  | 8709 | 0 | 0 |
| MORGAN STANLEY INDIA INVESTME | COM | 61745C105 |  | 215870 | 10634 | SH |  | SOLE |  | 10634 | 0 | 0 |
| NEXTERA ENERGY INC  COM | COM | 65339F101 |  | 536210 | 6414 | SH |  | SOLE |  | 6414 | 0 | 0 |
| NIKE INC CLASS B | CL B | 654106103 |  | 270995 | 2316 | SH |  | SOLE |  | 2316 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 211276 | 2893 | SH |  | SOLE |  | 2893 | 0 | 0 |
| NUVEEN GLB HIGH INC FD | SHS | 67075G103 |  | 184792 | 16426 | SH |  | SOLE |  | 16426 | 0 | 0 |
| ONEOK INC CM (NEW) | COM | 682680103 |  | 557924 | 8492 | SH |  | SOLE |  | 8492 | 0 | 0 |
| ORACLE CORPORATION | COM | 68389X105 |  | 297207 | 3636 | SH |  | SOLE |  | 3636 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 1987441 | 11001 | SH |  | SOLE |  | 11001 | 0 | 0 |
| PFIZER INC. | COM | 717081103 |  | 884873 | 17269 | SH |  | SOLE |  | 17269 | 0 | 0 |
| PIMCO 1-5 YR US TIPS INDEX ET | 1-5 US TIP IDX | 72201R205 |  | 822356 | 16490 | SH |  | SOLE |  | 16490 | 0 | 0 |
| PIMCOTOTAL RETURN ETF | ACTIVE BD ETF | 72201R775 |  | 4721597 | 52184 | SH |  | SOLE |  | 52184 | 0 | 0 |
| PLAINS ALL AMERICAN PIPELINE | UNIT LTD PARTN | 726503105 |  | 274890 | 23375 | SH |  | SOLE |  | 23375 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 758255 | 5003 | SH |  | SOLE |  | 5003 | 0 | 0 |
| S 500 DEPOSITORY RECEIPT | TR UNIT | 78462F103 |  | 102221993 | 267296 | SH |  | SOLE |  | 267296 | 0 | 0 |
| SCHWAB EMERGING MARKETS EQUIT | EMRG MKTEQ ETF | 808524706 |  | 441801 | 18665 | SH |  | SOLE |  | 18665 | 0 | 0 |
| SCHWAB INTERNATIONAL EQUITY E | INTL EQTY ETF | 808524805 |  | 910255 | 28260 | SH |  | SOLE |  | 28260 | 0 | 0 |
| SPDR GOLD TRUST ETF | GOLD SHS | 78463V107 |  | 2079702 | 12260 | SH |  | SOLE |  | 12260 | 0 | 0 |
| SPDR PORTFOLIO SHORT TERM COR | PORTFOLIO SHORT | 78464A474 |  | 3139664 | 106864 | SH |  | SOLE |  | 106864 | 0 | 0 |
| SPDR S MID CAP 400 ETF | UTSER1 S | 78467Y107 |  | 3254949 | 7351 | SH |  | SOLE |  | 7351 | 0 | 0 |
| SPDR SER TR SP500 FOSL ETF | SPDR S 500 ETF | 78468R796 |  | 5248137 | 56220 | SH |  | SOLE |  | 56220 | 0 | 0 |
| SPDR WELLS FARGO PREFERRED ST | ICE PFD SEC ETF | 78464A292 |  | 205289 | 6255 | SH |  | SOLE |  | 6255 | 0 | 0 |
| STRYKER CORP | COM | 863667101 |  | 510480 | 2088 | SH |  | SOLE |  | 2088 | 0 | 0 |
| TARGA RESOURCES CORP | COM | 87612G101 |  | 535154 | 7281 | SH |  | SOLE |  | 7281 | 0 | 0 |
| TC ENERGY CORPCOM | COM | 87807B107 |  | 354116 | 8884 | SH |  | SOLE |  | 8884 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 567696 | 3436 | SH |  | SOLE |  | 3436 | 0 | 0 |
| UNION PACIFIC CORP | COM | 907818108 |  | 331312 | 1600 | SH |  | SOLE |  | 1600 | 0 | 0 |
| UNITEDHEALTH GROUP | COM | 91324P102 |  | 1003631 | 1893 | SH |  | SOLE |  | 1893 | 0 | 0 |
| VALE S.A. SPONS ADR REPR 1 CO | SPONSORED ADS | 91912E105 |  | 230707 | 13595 | SH |  | SOLE |  | 13595 | 0 | 0 |
| VANECK VECTORS PFD SECS EX FI | PREFERRED SECURT | 92189F429 |  | 188322 | 11270 | SH |  | SOLE |  | 11270 | 0 | 0 |
| VANGUARD DIVIDEND APPRECIATIO | DIV APP ETF | 921908844 |  | 264978 | 1745 | SH |  | SOLE |  | 1745 | 0 | 0 |
| VANGUARD EMERGING MARKETS ETF | FTSE EMR MKT ETF | 922042858 |  | 3088865 | 79242 | SH |  | SOLE |  | 79242 | 0 | 0 |
| VANGUARD EMERGING MKTS GOVT B | EM MK GOV BD ETF | 921946885 |  | 375942 | 6165 | SH |  | SOLE |  | 6165 | 0 | 0 |
| VANGUARD ESG US CORPORATE BON | ESG US CORP BD | 921910691 |  | 201138 | 3315 | SH |  | SOLE |  | 3315 | 0 | 0 |
| VANGUARD EXTENDED MARKET INDE | EXTEND MKT ETF | 922908652 |  | 5219538 | 39286 | SH |  | SOLE |  | 39286 | 0 | 0 |
| VANGUARD FTSE DEVELOPED MARKE | VAN FTSE DEV MKT | 921943858 |  | 6332895 | 150891 | SH |  | SOLE |  | 150891 | 0 | 0 |
| VANGUARD HIGH DIVIDEND YIELD | HIGH DIV YLD | 921946406 |  | 909397 | 8404 | SH |  | SOLE |  | 8404 | 0 | 0 |
| VANGUARD INDEX FDS  VANGUARD | TOTAL STK MKT | 922908769 |  | 1087871 | 5690 | SH |  | SOLE |  | 5690 | 0 | 0 |
| VANGUARD INTERMEDIATE TERM CO | INT-TERM CORP | 92206C870 |  | 657238 | 8479 | SH |  | SOLE |  | 8479 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX | ALLWRLD EX US | 922042775 |  | 1237455 | 24680 | SH |  | SOLE |  | 24680 | 0 | 0 |
| VANGUARD LONG TERM CORPORATE | LG-TERM COR BD | 92206C813 |  | 3274563 | 43251 | SH |  | SOLE |  | 43251 | 0 | 0 |
| VANGUARD LONG-TERM TREASURY I | LONG TERM TREAS | 92206C847 |  | 4089103 | 66360 | SH |  | SOLE |  | 66360 | 0 | 0 |
| VANGUARD MUNI BD FD INC TAX-E | TAX EXEMPT BD | 922907746 |  | 207858 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| VANGUARD REIT INDEX ETF | REAL ESTATE ETF | 922908553 |  | 8561377 | 103799 | SH |  | SOLE |  | 103799 | 0 | 0 |
| VANGUARD S 500 ETF | S 500 ETF SHS | 922908363 |  | 469390 | 1336 | SH |  | SOLE |  | 1336 | 0 | 0 |
| VANGUARD SHORT TERM TREASURY | SHORT TERM TREAS | 92206C102 |  | 17129933 | 296263 | SH |  | SOLE |  | 296263 | 0 | 0 |
| VANGUARD SHORT-TERM CORPORATE | SHRT TRM CORP BD | 92206C409 |  | 12307761 | 163689 | SH |  | SOLE |  | 163689 | 0 | 0 |
| VANGUARD ST TIPS BOND FD | STRM INFPROIDX | 922020805 |  | 7522423 | 161045 | SH |  | SOLE |  | 161045 | 0 | 0 |
| VANGUARD TOTAL BOND MARKET ET | TOTAL BND MRKT | 921937835 |  | 3017639 | 42005 | SH |  | SOLE |  | 42005 | 0 | 0 |
| VANGUARD VALUE ETF | VALUE ETF | 922908744 |  | 876611 | 6245 | SH |  | SOLE |  | 6245 | 0 | 0 |
| VANGUARD WORLD ESG US STOCK E | ESG US STK ETF | 921910733 |  | 1578680 | 23970 | SH |  | SOLE |  | 23970 | 0 | 0 |
| VANGUARD WORLD FD ESG INTL ST | ESG INTL STK ETF | 921910725 |  | 1327884 | 26995 | SH |  | SOLE |  | 26995 | 0 | 0 |
| VISA INC CLASS A | COM CL A | 92826C839 |  | 759155 | 3654 | SH |  | SOLE |  | 3654 | 0 | 0 |
| WAL-MART STORES INC | COM | 931142103 |  | 778610 | 5491 | SH |  | SOLE |  | 5491 | 0 | 0 |
| WESTERN ASSET EMERGING MARKET | COM | 95766A101 |  | 247154 | 27130 | SH |  | SOLE |  | 27130 | 0 | 0 |
| WORLD GOLD TR SPDR GLD MINIS | SPDR GLD MINIS | 98149E303 |  | 10921491 | 301782 | SH |  | SOLE |  | 301782 | 0 | 0 |

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