# EDGAR Filing Document

**Accession Number:** 0001764968
**File Stem:** 0001172661-25-004375
**Filing Date:** 2025-10
**Character Count:** 20903
**Document Hash:** 24dcb6cc08e76ebfaed77fde0ebd3a9e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004375.hdr.sgml**: 20251022

**ACCESSION NUMBER**: 0001172661-25-004375

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251022

**DATE AS OF CHANGE**: 20251022

**EFFECTIVENESS DATE**: 20251022

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisory Resource Group
- **CENTRAL INDEX KEY:** 0001764968

**ORGANIZATION NAME:**
- **EIN:** 384049316
- **STATE OF INCORPORATION:** OK
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19132
- **FILM NUMBER:** 251409528

**BUSINESS ADDRESS:**
- **STREET 1:** 4625 E. 91ST ST.
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 74137
- **BUSINESS PHONE:** (918) 481-1934

**MAIL ADDRESS:**
- **STREET 1:** 4625 E. 91ST ST.
- **CITY:** TULSA
- **STATE:** OK
- **ZIP:** 74137

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** Advisory Resource Group<br>**Address:** 4625 E. 91st St.<br>Tulsa, OK 74137

**Form 13F File Number:** 028-19132

**CRD Number (if applicable):** 000290110

**SEC File Number (if applicable):** 801-111999

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:** Chris Brown<br>**Title:** CCO<br>**Phone:** 918-481-1934

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

s/ Chris Brown  Tulsa, OK  10-22-2025<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:** 172

**Form 13F Information Table Value Total:** $557459358

      (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 |
| AB ACTIVE ETFS INC | TAX AWARE INTERM | 00039J889 |  | 3104138 | 122114 | SH |  | SOLE |  | 0 | 0 | 122114 |
| AB ACTIVE ETFS INC | TAX AWARE LONG M | 00039J871 |  | 1997176 | 79903 | SH |  | SOLE |  | 0 | 0 | 79903 |
| AB ACTIVE ETFS INC | HIGH YIELD ETF | 00039J608 |  | 4599212 | 121177 | SH |  | SOLE |  | 0 | 0 | 121177 |
| ABBVIE INC | COM | 00287Y109 |  | 450348 | 1945 | SH |  | SOLE |  | 0 | 0 | 1945 |
| ABRDN PRECIOUS METALS BASKET | PHYSCL PRECS MET | 003263100 |  | 226832 | 1371 | SH |  | SOLE |  | 0 | 0 | 1371 |
| AFLAC INC | COM | 001055102 |  | 6013524 | 53836 | SH |  | SOLE |  | 0 | 0 | 53836 |
| AIRBNB INC | COM CL A | 009066101 |  | 1306601 | 10761 | SH |  | SOLE |  | 0 | 0 | 10761 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1806689 | 7418 | SH |  | SOLE |  | 0 | 0 | 7418 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 228757 | 941 | SH |  | SOLE |  | 0 | 0 | 941 |
| ALPS ETF TR | SMITH CORE PLUS | 00162Q346 |  | 12480753 | 477093 | SH |  | SOLE |  | 0 | 0 | 477093 |
| AMAZON COM INC | COM | 023135106 |  | 2568091 | 11696 | SH |  | SOLE |  | 0 | 0 | 11696 |
| AMERICAN CENTY ETF TR | INTL EQT ETF | 025072703 |  | 11655029 | 147719 | SH |  | SOLE |  | 0 | 0 | 147719 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 344914 | 3066 | SH |  | SOLE |  | 0 | 0 | 3066 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 202618 | 610 | SH |  | SOLE |  | 0 | 0 | 610 |
| AMERICAN HEALTHCARE REIT INC | COM SHS | 398182303 |  | 779832 | 18563 | SH |  | SOLE |  | 0 | 0 | 18563 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 5645691 | 71883 | SH |  | SOLE |  | 0 | 0 | 71883 |
| APPLE INC | COM | 037833100 |  | 6241247 | 24511 | SH |  | SOLE |  | 0 | 0 | 24511 |
| APPLIED MATLS INC | COM | 038222105 |  | 6400930 | 31264 | SH |  | SOLE |  | 0 | 0 | 31264 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 1435677 | 1483 | SH |  | SOLE |  | 0 | 0 | 1483 |
| AT INC | COM | 00206R102 |  | 705610 | 24986 | SH |  | SOLE |  | 0 | 0 | 24986 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 1281705 | 1786 | SH |  | SOLE |  | 0 | 0 | 1786 |
| BANK AMERICA CORP | COM | 060505104 |  | 507731 | 9842 | SH |  | SOLE |  | 0 | 0 | 9842 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2030064 | 4038 | SH |  | SOLE |  | 0 | 0 | 4038 |
| BITWISE BITCOIN ETF TR | SHS BEN INT | 09174C104 |  | 230525 | 3705 | SH |  | SOLE |  | 0 | 0 | 3705 |
| BLACKBERRY LTD | COM | 09228F103 |  | 308665 | 63251 | SH |  | SOLE |  | 0 | 0 | 63251 |
| BLACKROCK ETF TRUST II | ISHARES INTERMED | 092528207 |  | 2707264 | 113109 | SH |  | SOLE |  | 0 | 0 | 113109 |
| BLACKROCK ETF TRUST II | SHORT DURATION H | 092528108 |  | 2960028 | 132499 | SH |  | SOLE |  | 0 | 0 | 132499 |
| BLACKSTONE INC | COM | 09260D107 |  | 1307707 | 7654 | SH |  | SOLE |  | 0 | 0 | 7654 |
| BNY MELLON ETF TRUST | INTERNATIONL EQT | 09661T404 |  | 1009229 | 11270 | SH |  | SOLE |  | 0 | 0 | 11270 |
| BRINKER INTL INC | COM | 109641100 |  | 211556 | 1670 | SH |  | SOLE |  | 0 | 0 | 1670 |
| BROADCOM INC | COM | 11135F101 |  | 1379354 | 4181 | SH |  | SOLE |  | 0 | 0 | 4181 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 1347082 | 3835 | SH |  | SOLE |  | 0 | 0 | 3835 |
| CARLISLE COS INC | COM | 142339100 |  | 5514685 | 16764 | SH |  | SOLE |  | 0 | 0 | 16764 |
| CATERPILLAR INC | COM | 149123101 |  | 772506 | 1619 | SH |  | SOLE |  | 0 | 0 | 1619 |
| CHEVRON CORP NEW | COM | 166764100 |  | 647819 | 4172 | SH |  | SOLE |  | 0 | 0 | 4172 |
| CHUBB LIMITED | COM | H1467J104 |  | 1304842 | 4623 | SH |  | SOLE |  | 0 | 0 | 4623 |
| CISCO SYS INC | COM | 17275R102 |  | 6267360 | 91601 | SH |  | SOLE |  | 0 | 0 | 91601 |
| CITIGROUP INC | COM NEW | 172967424 |  | 6067655 | 59780 | SH |  | SOLE |  | 0 | 0 | 59780 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 1387324 | 6465 | SH |  | SOLE |  | 0 | 0 | 6465 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 5374012 | 80125 | SH |  | SOLE |  | 0 | 0 | 80125 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 21930809 | 231851 | SH |  | SOLE |  | 0 | 0 | 231851 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 1333063 | 4051 | SH |  | SOLE |  | 0 | 0 | 4051 |
| CORNING INC | COM | 219350105 |  | 503810 | 6142 | SH |  | SOLE |  | 0 | 0 | 6142 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1649939 | 1783 | SH |  | SOLE |  | 0 | 0 | 1783 |
| COUPANG INC | CL A | 22266T109 |  | 1391555 | 43216 | SH |  | SOLE |  | 0 | 0 | 43216 |
| COUSINS PPTYS INC | COM NEW | 222795502 |  | 247032 | 8536 | SH |  | SOLE |  | 0 | 0 | 8536 |
| CRH PLC | ORD | G25508105 |  | 1444915 | 12051 | SH |  | SOLE |  | 0 | 0 | 12051 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 1533663 | 3128 | SH |  | SOLE |  | 0 | 0 | 3128 |
| CUMMINS INC | COM | 231021106 |  | 5893658 | 13954 | SH |  | SOLE |  | 0 | 0 | 13954 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 219968 | 6274 | SH |  | SOLE |  | 0 | 0 | 6274 |
| DIREXION SHS ETF TR | DAILY SM CP BEAR | 25460E232 |  | 84058 | 10238 | SH |  | SOLE |  | 0 | 0 | 10238 |
| DISNEY WALT CO | COM | 254687106 |  | 1636505 | 14293 | SH |  | SOLE |  | 0 | 0 | 14293 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 280744 | 2716 | SH |  | SOLE |  | 0 | 0 | 2716 |
| DOORDASH INC | CL A | 25809K105 |  | 1490777 | 5481 | SH |  | SOLE |  | 0 | 0 | 5481 |
| DOVER CORP | COM | 260003108 |  | 5432762 | 32565 | SH |  | SOLE |  | 0 | 0 | 32565 |
| EATON CORP PLC | SHS | G29183103 |  | 1587569 | 4242 | SH |  | SOLE |  | 0 | 0 | 4242 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 6116015 | 18928 | SH |  | SOLE |  | 0 | 0 | 18928 |
| ELI LILLY  CO | COM | 532457108 |  | 467920 | 613 | SH |  | SOLE |  | 0 | 0 | 613 |
| ETFIS SER TR I | VIRTUS REAVES UT | 26923G806 |  | 3110894 | 37283 | SH |  | SOLE |  | 0 | 0 | 37283 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 6283390 | 55729 | SH |  | SOLE |  | 0 | 0 | 55729 |
| FIDELITY COVINGTON TRUST | ENHANCED LARGE | 31609A107 |  | 6489027 | 193529 | SH |  | SOLE |  | 0 | 0 | 193529 |
| FIDELITY COVINGTON TRUST | ENHANCED INTL | 31609A404 |  | 4518804 | 128084 | SH |  | SOLE |  | 0 | 0 | 128084 |
| FIDELITY GREENWOOD STREET TR | YIELD ENHANCED E | 31624J729 |  | 7625422 | 271948 | SH |  | SOLE |  | 0 | 0 | 271948 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 5990606 | 134469 | SH |  | SOLE |  | 0 | 0 | 134469 |
| FIRST TR EXCH TRADED FD III | SHRT DUR MNG MUN | 33739P830 |  | 2560883 | 127534 | SH |  | SOLE |  | 0 | 0 | 127534 |
| FIRST TR EXCH TRADED FD III | MANAGD MUN ETF | 33739N108 |  | 479056 | 9449 | SH |  | SOLE |  | 0 | 0 | 9449 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST LADDERED | 33740F755 |  | 1022084 | 30583 | SH |  | SOLE |  | 0 | 0 | 30583 |
| FIRST TR EXCHNG TRADED FD VI | VEST US EQUITY B | 33740U620 |  | 783564 | 25091 | SH |  | SOLE |  | 0 | 0 | 25091 |
| FIRST TR EXCHNG TRADED FD VI | VEST US EQUITY B | 33740F235 |  | 1362830 | 43835 | SH |  | SOLE |  | 0 | 0 | 43835 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST U.S | 33740F326 |  | 2172715 | 71517 | SH |  | SOLE |  | 0 | 0 | 71517 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST U.S. EQU | 33740F375 |  | 4112332 | 136060 | SH |  | SOLE |  | 0 | 0 | 136060 |
| FORD MTR CO | COM | 345370860 |  | 192185 | 16069 | SH |  | SOLE |  | 0 | 0 | 16069 |
| FRANKLIN TEMPLETON ETF TR | FRANKLIN INDIA | 35473P769 |  | 1543186 | 41383 | SH |  | SOLE |  | 0 | 0 | 41383 |
| GE AEROSPACE | COM NEW | 369604301 |  | 455141 | 1513 | SH |  | SOLE |  | 0 | 0 | 1513 |
| GE VERNOVA INC | COM | 36828A101 |  | 257028 | 418 | SH |  | SOLE |  | 0 | 0 | 418 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 6365447 | 18667 | SH |  | SOLE |  | 0 | 0 | 18667 |
| HANCOCK JOHN PFD INCOME FD | SH BEN INT | 41013W108 |  | 1801942 | 103858 | SH |  | SOLE |  | 0 | 0 | 103858 |
| HEALTHCARE RLTY TR | CL A COM | 42226K105 |  | 790812 | 43861 | SH |  | SOLE |  | 0 | 0 | 43861 |
| HOME DEPOT INC | COM | 437076102 |  | 270667 | 668 | SH |  | SOLE |  | 0 | 0 | 668 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 1156781 | 38266 | SH |  | SOLE |  | 0 | 0 | 38266 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 1218233 | 74876 | SH |  | SOLE |  | 0 | 0 | 74876 |
| INTEL CORP | COM | 458140100 |  | 589667 | 17576 | SH |  | SOLE |  | 0 | 0 | 17576 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 364269 | 1291 | SH |  | SOLE |  | 0 | 0 | 1291 |
| INVESCO EXCH TRADED FD TR II | VAR RATE PFD | 46138G870 |  | 1847955 | 74816 | SH |  | SOLE |  | 0 | 0 | 74816 |
| INVESCO EXCH TRADED FD TR II | NATL AMT MUNI | 46138E537 |  | 471775 | 20432 | SH |  | SOLE |  | 0 | 0 | 20432 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 6626459 | 11037 | SH |  | SOLE |  | 0 | 0 | 11037 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1460028 | 34459 | SH |  | SOLE |  | 0 | 0 | 34459 |
| ISHARES TR | HIGH YLD SYSTM B | 46435G250 |  | 1916623 | 40059 | SH |  | SOLE |  | 0 | 0 | 40059 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 624600 | 6469 | SH |  | SOLE |  | 0 | 0 | 6469 |
| ISHARES TR | RUS MD CP GR ETF | 464287481 |  | 439429 | 3086 | SH |  | SOLE |  | 0 | 0 | 3086 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 2075091 | 10193 | SH |  | SOLE |  | 0 | 0 | 10193 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 371341 | 3487 | SH |  | SOLE |  | 0 | 0 | 3487 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1800355 | 3844 | SH |  | SOLE |  | 0 | 0 | 3844 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 4133294 | 50052 | SH |  | SOLE |  | 0 | 0 | 50052 |
| ISHARES TR | CORE S ETF | 464287200 |  | 11470274 | 17138 | SH |  | SOLE |  | 0 | 0 | 17138 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 7740503 | 134571 | SH |  | SOLE |  | 0 | 0 | 134571 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 531715 | 9312 | SH |  | SOLE |  | 0 | 0 | 9312 |
| J P MORGAN EXCHANGE TRADED F | SMALL  MID CAP | 46641Q118 |  | 15439750 | 243414 | SH |  | SOLE |  | 0 | 0 | 243414 |
| JANUS DETROIT STR TR | HENDERSON SECURI | 47103U746 |  | 19999704 | 382623 | SH |  | SOLE |  | 0 | 0 | 382623 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 325839 | 1033 | SH |  | SOLE |  | 0 | 0 | 1033 |
| KITE RLTY GROUP TR | COM NEW | 49803T300 |  | 226221 | 10144 | SH |  | SOLE |  | 0 | 0 | 10144 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 864901 | 6459 | SH |  | SOLE |  | 0 | 0 | 6459 |
| LOWES COS INC | COM | 548661107 |  | 397572 | 1582 | SH |  | SOLE |  | 0 | 0 | 1582 |
| MANULIFE FINL CORP | COM | 56501R106 |  | 1238213 | 39750 | SH |  | SOLE |  | 0 | 0 | 39750 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1431695 | 2517 | SH |  | SOLE |  | 0 | 0 | 2517 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 1388142 | 594 | SH |  | SOLE |  | 0 | 0 | 594 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2355412 | 3207 | SH |  | SOLE |  | 0 | 0 | 3207 |
| MICROSOFT CORP | COM | 594918104 |  | 3903179 | 7536 | SH |  | SOLE |  | 0 | 0 | 7536 |
| MORGAN STANLEY ETF TRUST | EATON VANCE TOTA | 61774R841 |  | 3675757 | 71443 | SH |  | SOLE |  | 0 | 0 | 71443 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 1274132 | 8383 | SH |  | SOLE |  | 0 | 0 | 8383 |
| NETFLIX INC | COM | 64110L106 |  | 1676090 | 1398 | SH |  | SOLE |  | 0 | 0 | 1398 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 1454498 | 11342 | SH |  | SOLE |  | 0 | 0 | 11342 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 1249413 | 22516 | SH |  | SOLE |  | 0 | 0 | 22516 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 3170578 | 16993 | SH |  | SOLE |  | 0 | 0 | 16993 |
| OGE ENERGY CORP | COM | 670837103 |  | 304086 | 6572 | SH |  | SOLE |  | 0 | 0 | 6572 |
| ONEOK INC NEW | COM | 682680103 |  | 1037644 | 14220 | SH |  | SOLE |  | 0 | 0 | 14220 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 283001 | 2625 | SH |  | SOLE |  | 0 | 0 | 2625 |
| PACER FDS TR | METAURUS CAP 400 | 69374H436 |  | 40712079 | 971649 | SH |  | SOLE |  | 0 | 0 | 971649 |
| PACER FDS TR | INDUSTRIAL RELET | 69374H766 |  | 4237004 | 113860 | SH |  | SOLE |  | 0 | 0 | 113860 |
| PACER FDS TR | NASDAQ INTL PATE | 69374H311 |  | 15602752 | 605577 | SH |  | SOLE |  | 0 | 0 | 605577 |
| PACER FDS TR | CASH COWS ETF | 69374H659 |  | 5859489 | 138326 | SH |  | SOLE |  | 0 | 0 | 138326 |
| PALMER SQUARE FUNDS TRUST | CR OPPORTUNITIES | 696930106 |  | 17902883 | 869072 | SH |  | SOLE |  | 0 | 0 | 869072 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1472173 | 7230 | SH |  | SOLE |  | 0 | 0 | 7230 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 7302337 | 146545 | SH |  | SOLE |  | 0 | 0 | 146545 |
| PGIM ETF TR | JENNISON FOC GWT | 69344A875 |  | 5490315 | 49766 | SH |  | SOLE |  | 0 | 0 | 49766 |
| PGIM ETF TR | ACTV HY BD ETF | 69344A206 |  | 4742130 | 132647 | SH |  | SOLE |  | 0 | 0 | 132647 |
| PGIM ETF TR | TOTAL RETURN BON | 69344A800 |  | 19208512 | 455178 | SH |  | SOLE |  | 0 | 0 | 455178 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 235677 | 1453 | SH |  | SOLE |  | 0 | 0 | 1453 |
| PHILLIPS 66 | COM | 718546104 |  | 32576530 | 239498 | SH |  | SOLE |  | 0 | 0 | 239498 |
| PHILLIPS EDISON  CO INC | COMMON STOCK | 71844V201 |  | 203028 | 5914 | SH |  | SOLE |  | 0 | 0 | 5914 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 223667 | 1456 | SH |  | SOLE |  | 0 | 0 | 1456 |
| ROYAL BK CDA | COM | 780087102 |  | 1342085 | 9110 | SH |  | SOLE |  | 0 | 0 | 9110 |
| SAP SE | SPON ADR | 803054204 |  | 1315876 | 4925 | SH |  | SOLE |  | 0 | 0 | 4925 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 1393777 | 51054 | SH |  | SOLE |  | 0 | 0 | 51054 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 284423 | 12217 | SH |  | SOLE |  | 0 | 0 | 12217 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 213762 | 6699 | SH |  | SOLE |  | 0 | 0 | 6699 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 259622 | 2906 | SH |  | SOLE |  | 0 | 0 | 2906 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 2039576 | 8511 | SH |  | SOLE |  | 0 | 0 | 8511 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 5870591 | 108977 | SH |  | SOLE |  | 0 | 0 | 108977 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 1219997 | 13613 | SH |  | SOLE |  | 0 | 0 | 13613 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 2061186 | 14811 | SH |  | SOLE |  | 0 | 0 | 14811 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 1518450 | 12828 | SH |  | SOLE |  | 0 | 0 | 12828 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 263037 | 933 | SH |  | SOLE |  | 0 | 0 | 933 |
| SELECT SECTOR SPDR TR | RL EST SEL SEC | 81369Y860 |  | 819976 | 19463 | SH |  | SOLE |  | 0 | 0 | 19463 |
| SERVICENOW INC | COM | 81762P102 |  | 1251581 | 1360 | SH |  | SOLE |  | 0 | 0 | 1360 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 1340611 | 9021 | SH |  | SOLE |  | 0 | 0 | 9021 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 |  | 1312968 | 45605 | SH |  | SOLE |  | 0 | 0 | 45605 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 2124331 | 45382 | SH |  | SOLE |  | 0 | 0 | 45382 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 250484 | 376 | SH |  | SOLE |  | 0 | 0 | 376 |
| SPDR SERIES TRUST | PORTFOLIO AGRGTE | 78464A649 |  | 11588994 | 448317 | SH |  | SOLE |  | 0 | 0 | 448317 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 1382738 | 1981 | SH |  | SOLE |  | 0 | 0 | 1981 |
| STRYKER CORPORATION | COM | 863667101 |  | 462827 | 1252 | SH |  | SOLE |  | 0 | 0 | 1252 |
| SUN LIFE FINANCIAL INC. | COM | 866796105 |  | 1325102 | 22074 | SH |  | SOLE |  | 0 | 0 | 22074 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1899693 | 6802 | SH |  | SOLE |  | 0 | 0 | 6802 |
| TESLA INC | COM | 88160R101 |  | 2168899 | 4877 | SH |  | SOLE |  | 0 | 0 | 4877 |
| TJX COS INC NEW | COM | 872540109 |  | 301366 | 2085 | SH |  | SOLE |  | 0 | 0 | 2085 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 1312296 | 3110 | SH |  | SOLE |  | 0 | 0 | 3110 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1550277 | 15824 | SH |  | SOLE |  | 0 | 0 | 15824 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 1434145 | 132058 | SH |  | SOLE |  | 0 | 0 | 132058 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 7311986 | 42946 | SH |  | SOLE |  | 0 | 0 | 42946 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 680795 | 2677 | SH |  | SOLE |  | 0 | 0 | 2677 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 474895 | 1447 | SH |  | SOLE |  | 0 | 0 | 1447 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 204224 | 686 | SH |  | SOLE |  | 0 | 0 | 686 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 878558 | 1435 | SH |  | SOLE |  | 0 | 0 | 1435 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 6778607 | 56254 | SH |  | SOLE |  | 0 | 0 | 56254 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 819062 | 1097 | SH |  | SOLE |  | 0 | 0 | 1097 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 1286146 | 3284 | SH |  | SOLE |  | 0 | 0 | 3284 |
| VIRTUS ETF TR II | STONE HARBOR EMG | 92790A801 |  | 3820552 | 138151 | SH |  | SOLE |  | 0 | 0 | 138151 |
| VIRTUS ETF TR II | KAR MID-CAP ETF | 92790A868 |  | 828271 | 33574 | SH |  | SOLE |  | 0 | 0 | 33574 |
| WALMART INC | COM | 931142103 |  | 891618 | 8651 | SH |  | SOLE |  | 0 | 0 | 8651 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 374337 | 1695 | SH |  | SOLE |  | 0 | 0 | 1695 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 255283 | 3046 | SH |  | SOLE |  | 0 | 0 | 3046 |

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