# EDGAR Filing Document

**Accession Number:** 0001157519
**File Stem:** 0000897101-25-000603
**Filing Date:** 2025-11
**Character Count:** 18316
**Document Hash:** 16d975bbd42929cebd98818442949961
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000897101-25-000603.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0000897101-25-000603

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**EFFECTIVENESS DATE**: 20251112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OKABENA INVESTMENT SERVICES INC
- **CENTRAL INDEX KEY:** 0001157519

**ORGANIZATION NAME:**
- **EIN:** 411794228
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10076
- **FILM NUMBER:** 251470525

**BUSINESS ADDRESS:**
- **STREET 1:** 4200 IDS CENTER
- **STREET 2:** 80 SOUTH EIGHTH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402-4523
- **BUSINESS PHONE:** 6123397151

**MAIL ADDRESS:**
- **STREET 1:** 4200 IDS CENTER
- **STREET 2:** 80 SOUTH EIGHTH STREET
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402-4523

### 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:** OKABENA INVESTMENT SERVICES INC<br>**Address:** 4200 IDS Center<br>80 South Eighth Street<br>Minneapolis, MN 55402-4523

**Form 13F File Number:** 028-10076

**CRD Number (if applicable):** 000111162

**SEC File Number (if applicable):** 801-47929

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:** Jocelyn Henkensiefken<br>**Title:** VP and Deputy Chief Compliance Officer<br>**Phone:** 612-339-7151

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

/s/ Jocelyn Henkensiefken  Minneapolis, MN  11-12-2025<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:** 138

**Form 13F Information Table Value Total:** $514699158

      (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 |
| 3M Co Com | COM | 88579Y101 |  | 1508660 | 9722 | SH |  | SOLE |  | 9722 | 0 | 0 |
| Abbott Laboratories | COM | 002824100 |  | 5046323 | 37676 | SH |  | SOLE |  | 37676 | 0 | 0 |
| Accenture Plc Ireland Shs Class A | SHS CL A | G1151C101 |  | 877649 | 3559 | SH |  | SOLE |  | 3559 | 0 | 0 |
| Adobe Inc Com | COM | 00724F101 |  | 298427 | 846 | SH |  | SOLE |  | 846 | 0 | 0 |
| ALBERTSONS COS INC COMMON STOCK | COMMON STOCK | 013091103 |  | 1105266 | 63122 | SH |  | SOLE |  | 63122 | 0 | 0 |
| Alphabet Inc. Class C | CAP STK CL A | 02079K107 |  | 6539512 | 26901 | SH |  | SOLE |  | 26901 | 0 | 0 |
| Alphabet Inc. Class A | CAP STK CL A | 02079K305 |  | 5521869 | 22672 | SH |  | SOLE |  | 22672 | 0 | 0 |
| Altria Group Inc Com | COM | 02209S103 |  | 202144 | 3060 | SH |  | SOLE |  | 3060 | 0 | 0 |
| Amazon.com Inc. | COM | 023135106 |  | 3098133 | 14110 | SH |  | SOLE |  | 14110 | 0 | 0 |
| AMERIPRISE FINL INC COM | COM | 03076C106 |  | 248081 | 505 | SH |  | SOLE |  | 505 | 0 | 0 |
| Amphenol Corporation Class A | CL A | 032095101 |  | 5471978 | 44218 | SH |  | SOLE |  | 44218 | 0 | 0 |
| Apple Inc. | COM | 037833100 |  | 10719675 | 42099 | SH |  | SOLE |  | 42099 | 0 | 0 |
| APPLIED MATLS INC COM | COM | 038222105 |  | 1541283 | 7528 | SH |  | SOLE |  | 7528 | 0 | 0 |
| APTARGROUP INC COM | COM | 038336103 |  | 367565 | 2750 | SH |  | SOLE |  | 2750 | 0 | 0 |
| ATMUS FILTRATION TECHNOLOGIES COM | COM | 04956D107 |  | 743985 | 16500 | SH |  | SOLE |  | 16500 | 0 | 0 |
| AUTOMATIC DATA PROCESSING INC COM | COM | 053015103 |  | 1701126 | 5796 | SH |  | SOLE |  | 5796 | 0 | 0 |
| AVEPOINT INC COM CL A | COM CL A | 053604104 |  | 704674 | 46947 | SH |  | SOLE |  | 46947 | 0 | 0 |
| BANK AMERICA CORP COM | COM | 060505104 |  | 2607668 | 50546 | SH |  | SOLE |  | 50546 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL A | CL A | 084670108 |  | 1508400 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | CL B NEW | 084670702 |  | 3819322 | 7597 | SH |  | SOLE |  | 7597 | 0 | 0 |
| BLACKROCK INC COM | COM | 09290D101 |  | 1858397 | 1594 | SH |  | SOLE |  | 1594 | 0 | 0 |
| Bridgebio Pharma Inc Com | COM | 10806X102 |  | 815510 | 15701 | SH |  | SOLE |  | 15701 | 0 | 0 |
| C H Robinson Worldwide Inc Com New | COM NEW | 12541W209 |  | 530262 | 4005 | SH |  | SOLE |  | 4005 | 0 | 0 |
| CAPITAL ONE FINL CORP COM | COM | 14040H105 |  | 758911 | 3570 | SH |  | SOLE |  | 3570 | 0 | 0 |
| CATERPILLAR INC COM | COM | 149123101 |  | 524865 | 1100 | SH |  | SOLE |  | 1100 | 0 | 0 |
| Chubb Limited Com | COM | H1467J104 |  | 478696 | 1696 | SH |  | SOLE |  | 1696 | 0 | 0 |
| Clean Harbors Inc Com | COM | 184496107 |  | 1449053 | 6240 | SH |  | SOLE |  | 6240 | 0 | 0 |
| Communication Services Select Sector Spdr Fund | COMMUNICATION | 81369Y852 |  | 2129831 | 17993 | SH |  | SOLE |  | 17993 | 0 | 0 |
| CONAGRA BRANDS INC COM | COM | 205887102 |  | 558327 | 30493 | SH |  | SOLE |  | 30493 | 0 | 0 |
| Consumer Discretionary Select Sector Spdr Fund | SBI CONS DISCR | 81369Y407 |  | 2194144 | 9156 | SH |  | SOLE |  | 9156 | 0 | 0 |
| Consumer Staples Select Sector Spdr Fund | SBI CONS STPLS | 81369Y308 |  | 958152 | 12226 | SH |  | SOLE |  | 12226 | 0 | 0 |
| Core  Main Inc Cl A | CL A | 21874C102 |  | 1263767 | 23477 | SH |  | SOLE |  | 23477 | 0 | 0 |
| DANAHER CORPORATION COM | COM | 235851102 |  | 522415 | 2635 | SH |  | SOLE |  | 2635 | 0 | 0 |
| Dimensional Emerg Core Eqy Mrkt ETF | EMGR CRE EQT MNG | 25434V302 |  | 1058494 | 33571 | SH |  | SOLE |  | 33571 | 0 | 0 |
| Dimensional Intern Core Eqt Mkt ETF | INTL CORE EQT MK | 25434V203 |  | 14932107 | 410787 | SH |  | SOLE |  | 410787 | 0 | 0 |
| DIMENSIONAL U.S. TARGETED VALUE ETF | US TARGETED VLU | 25434V609 |  | 377259 | 6481 | SH |  | SOLE |  | 6481 | 0 | 0 |
| DISNEY WALT CO COM | COM | 254687106 |  | 2724070 | 23791 | SH |  | SOLE |  | 23791 | 0 | 0 |
| Dollar Tree Inc Com | COM | 256746108 |  | 1188873 | 12598 | SH |  | SOLE |  | 12598 | 0 | 0 |
| DONALDSON INC COM | COM | 257651109 |  | 411296 | 5025 | SH |  | SOLE |  | 5025 | 0 | 0 |
| ECOLAB INC COM | COM | 278865100 |  | 3297008 | 12039 | SH |  | SOLE |  | 12039 | 0 | 0 |
| Energy Select Sector Spdr Fund | ENERGY | 81369Y506 |  | 1592575 | 17826 | SH |  | SOLE |  | 17826 | 0 | 0 |
| FASTENAL CO COM | COM | 311900104 |  | 1271215 | 25922 | SH |  | SOLE |  | 25922 | 0 | 0 |
| FEDEX CORP COM | COM | 31428X106 |  | 290282 | 1231 | SH |  | SOLE |  | 1231 | 0 | 0 |
| Financial Select Sector Spdr Fund | FINANCIAL | 81369Y605 |  | 2616197 | 48565 | SH |  | SOLE |  | 48565 | 0 | 0 |
| Firstcash Holdings Inc Com | COM | 33768G107 |  | 211649 | 1336 | SH |  | SOLE |  | 1336 | 0 | 0 |
| FISERV INC COM | COM | 337738108 |  | 573867 | 4451 | SH |  | SOLE |  | 4451 | 0 | 0 |
| Fortive Corp Com | COM | 34959J108 |  | 893921 | 18247 | SH |  | SOLE |  | 18247 | 0 | 0 |
| GALLAGHER ARTHUR J  CO COM | COM | 363576109 |  | 773421 | 2497 | SH |  | SOLE |  | 2497 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 2759182 | 9172 | SH |  | SOLE |  | 9172 | 0 | 0 |
| Ge Vernova Inc Com | COM | 36828A101 |  | 204762 | 333 | SH |  | SOLE |  | 333 | 0 | 0 |
| Global X U.S. Infrastructure Development ETF | US INFR DEV ETF | 37954Y673 |  | 571560 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC COM | COM | 38141G104 |  | 2164479 | 2718 | SH |  | SOLE |  | 2718 | 0 | 0 |
| HCA HEALTHCARE INC COM | COM | 40412C101 |  | 745424 | 1749 | SH |  | SOLE |  | 1749 | 0 | 0 |
| Health Care Select Sector Spdr Fund | SBI HEALTHCARE | 81369Y209 |  | 1904263 | 13683 | SH |  | SOLE |  | 13683 | 0 | 0 |
| HILTON GRAND VACATIONS INC COM | COM | 43283X105 |  | 964222 | 23062 | SH |  | SOLE |  | 23062 | 0 | 0 |
| Hilton Worldwide Hldgs Inc Com | COM | 43300A203 |  | 1464539 | 5645 | SH |  | SOLE |  | 5645 | 0 | 0 |
| HOME DEPOT INC COM | COM | 437076102 |  | 844011 | 2083 | SH |  | SOLE |  | 2083 | 0 | 0 |
| HONEYWELL INTL INC COM | COM | 438516106 |  | 283333 | 1346 | SH |  | SOLE |  | 1346 | 0 | 0 |
| Houlihan Lokey Inc. Class A | CL A | 441593100 |  | 283752 | 1382 | SH |  | SOLE |  | 1382 | 0 | 0 |
| ILLINOIS TOOL WKS INC COM | COM | 452308109 |  | 466500 | 1789 | SH |  | SOLE |  | 1789 | 0 | 0 |
| Industrial Select Sector Spdr Fund | INDL | 81369Y704 |  | 1775958 | 11515 | SH |  | SOLE |  | 11515 | 0 | 0 |
| INGERSOLL RAND INC COM | COM | 45687V106 |  | 744406 | 9010 | SH |  | SOLE |  | 9010 | 0 | 0 |
| INTUIT COM | COM | 461202103 |  | 1254506 | 1837 | SH |  | SOLE |  | 1837 | 0 | 0 |
| Invesco Qqq Trust Series I | UNIT SER 1 | 46090E103 |  | 2059869 | 3431 | SH |  | SOLE |  | 3431 | 0 | 0 |
| Ishares Core Msci Eafe Etf | CORE MSCI EAFE | 46432F842 |  | 4206421 | 48178 | SH |  | SOLE |  | 48178 | 0 | 0 |
| Ishares Core Msci Emerging Markets Etf | CORE MSCI EMKT | 46434G103 |  | 2533108 | 38427 | SH |  | SOLE |  | 38427 | 0 | 0 |
| Ishares Core S 500 Etf | CORE S ETF | 464287200 |  | 33574765 | 50164 | SH |  | SOLE |  | 50164 | 0 | 0 |
| Ishares Core S Mid-Cap Etf | CORE S MCP ETF | 464287507 |  | 2781446 | 42621 | SH |  | SOLE |  | 42621 | 0 | 0 |
| Ishares Core S Small Cap Etf | CORE S SCP ETF | 464287804 |  | 3058090 | 25735 | SH |  | SOLE |  | 25735 | 0 | 0 |
| Ishares Gold Trust | ISHARES NEW | 464285204 |  | 13608136 | 187002 | SH |  | SOLE |  | 187002 | 0 | 0 |
| Ishares Msci Eafe Etf | MSCI EAFE ETF | 464287465 |  | 9678081 | 103653 | SH |  | SOLE |  | 103653 | 0 | 0 |
| Ishares Msci Emerging Markets Etf | MSCI EMG MKT ETF | 464287234 |  | 18262052 | 341986 | SH |  | SOLE |  | 341986 | 0 | 0 |
| Ishares National Muni Bond Etf | NATIONAL MUN ETF | 464288414 |  | 8385449 | 78744 | SH |  | SOLE |  | 78744 | 0 | 0 |
| Ishares Russell 1000 Growth Etf | RUS 1000 GRW ETF | 464287614 |  | 5607336 | 11971 | SH |  | SOLE |  | 11971 | 0 | 0 |
| Ishares Russell 2000 Etf | RUSSELL 2000 ETF | 464287655 |  | 694425 | 2870 | SH |  | SOLE |  | 2870 | 0 | 0 |
| Ishares Russell Midcap Etf | RUS MID CAP ETF | 464287499 |  | 1176655 | 12187 | SH |  | SOLE |  | 12187 | 0 | 0 |
| Ishares S 500 Value Etf | S 500 VAL ETF | 464287408 |  | 495624 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 2266305 | 12223 | SH |  | SOLE |  | 12223 | 0 | 0 |
| Jpmorgan Chase  Co. Com | COM | 46625H100 |  | 5595097 | 17738 | SH |  | SOLE |  | 17738 | 0 | 0 |
| LAMB WESTON HLDGS INC COM | COM | 513272104 |  | 1414713 | 24358 | SH |  | SOLE |  | 24358 | 0 | 0 |
| MASTERCARD INCORPORATED CL A | CL A | 57636Q104 |  | 4010679 | 7051 | SH |  | SOLE |  | 7051 | 0 | 0 |
| Materials Select Sector Spdr Fund | SBI MATERIALS | 81369Y100 |  | 390385 | 4356 | SH |  | SOLE |  | 4356 | 0 | 0 |
| MCDONALDS CORP COM | COM | 580135101 |  | 990074 | 3258 | SH |  | SOLE |  | 3258 | 0 | 0 |
| Medtronic Plc Shs | SHS | G5960L103 |  | 1529459 | 16059 | SH |  | SOLE |  | 16059 | 0 | 0 |
| Meta Platforms Inc Cl A | CL A | 30303M102 |  | 1551745 | 2113 | SH |  | SOLE |  | 2113 | 0 | 0 |
| METTLER TOLEDO INTERNATIONAL COM | COM | 592688105 |  | 607667 | 495 | SH |  | SOLE |  | 495 | 0 | 0 |
| MICROSOFT CORP COM | COM | 594918104 |  | 19737003 | 38106 | SH |  | SOLE |  | 38106 | 0 | 0 |
| MOODYS CORP COM | COM | 615369105 |  | 1073509 | 2253 | SH |  | SOLE |  | 2253 | 0 | 0 |
| NETFLIX INC COM | COM | 64110L106 |  | 225397 | 188 | SH |  | SOLE |  | 188 | 0 | 0 |
| Nutanix Inc Cl A | CL A | 67059N108 |  | 506893 | 6814 | SH |  | SOLE |  | 6814 | 0 | 0 |
| NVIDIA CORPORATION COM | COM | 67066G104 |  | 630267 | 3378 | SH |  | SOLE |  | 3378 | 0 | 0 |
| Oracle Corp Com | COM | 68389X105 |  | 1604474 | 5705 | SH |  | SOLE |  | 5705 | 0 | 0 |
| OTIS WORLDWIDE CORP COM | COM | 68902V107 |  | 1589145 | 17381 | SH |  | SOLE |  | 17381 | 0 | 0 |
| PAYCHEX INC COM | COM | 704326107 |  | 444167 | 3504 | SH |  | SOLE |  | 3504 | 0 | 0 |
| PHILIP MORRIS INTL INC COM | COM | 718172109 |  | 487735 | 3007 | SH |  | SOLE |  | 3007 | 0 | 0 |
| Procter  Gamble Company | COM | 742718109 |  | 356161 | 2318 | SH |  | SOLE |  | 2318 | 0 | 0 |
| Real Estate Select Sector Spdr Fund | RL EST SEL SEC | 81369Y860 |  | 432507 | 10266 | SH |  | SOLE |  | 10266 | 0 | 0 |
| Reddit Inc Cl A | CL A | 75734B100 |  | 1584401 | 6889 | SH |  | SOLE |  | 6889 | 0 | 0 |
| ROBLOX CORP CL A | CL A | 771049103 |  | 1641739 | 11852 | SH |  | SOLE |  | 11852 | 0 | 0 |
| Rtx Corporation Com | COM | 75513E101 |  | 765535 | 4575 | SH |  | SOLE |  | 4575 | 0 | 0 |
| S GLOBAL INC COM | COM | 78409V104 |  | 1234297 | 2536 | SH |  | SOLE |  | 2536 | 0 | 0 |
| Salesforce Inc Com | COM | 79466L302 |  | 1609467 | 6791 | SH |  | SOLE |  | 6791 | 0 | 0 |
| Schwab Charles Corp Com | COM | 808513105 |  | 764333 | 8006 | SH |  | SOLE |  | 8006 | 0 | 0 |
| Schwab U.S. Mid-Cap Etf | US MID-CAP ETF | 808524508 |  | 880664 | 29712 | SH |  | SOLE |  | 29712 | 0 | 0 |
| Sharkninja Inc Com Shs | COM SHS | G8068L108 |  | 993850 | 9635 | SH |  | SOLE |  | 9635 | 0 | 0 |
| Sherwin Williams Co Com | COM | 824348106 |  | 359418 | 1038 | SH |  | SOLE |  | 1038 | 0 | 0 |
| Spdr Dow Jones Industrial Average Etf Trust | UT SER 1 | 78467X109 |  | 533301 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| Spdr Long Term Treasury Etf | PORTFOLIO LN TSR | 78464A664 |  | 3107605 | 115310 | SH |  | SOLE |  | 115310 | 0 | 0 |
| Spdr Portfolio S 500 Etf | PORTFOLIO S | 78464A854 |  | 309521 | 3951 | SH |  | SOLE |  | 3951 | 0 | 0 |
| Spdr S 500 Etf Trust | TR UNIT | 78462F103 |  | 16623856 | 24954 | SH |  | SOLE |  | 24954 | 0 | 0 |
| Spdr S Biotech Etf | S BIOTECH | 78464A870 |  | 889576 | 8878 | SH |  | SOLE |  | 8878 | 0 | 0 |
| Spdr S Metals  Mining Etf | S METALS MNG | 78464A755 |  | 6093415 | 65387 | SH |  | SOLE |  | 65387 | 0 | 0 |
| Starbucks Corp Com | COM | 855244109 |  | 793886 | 9384 | SH |  | SOLE |  | 9384 | 0 | 0 |
| Stryker Corporation Com | COM | 863667101 |  | 945616 | 2558 | SH |  | SOLE |  | 2558 | 0 | 0 |
| Taiwan Semiconductor Mfg Ltd Sponsored Ads | SPONSORED ADS | 874039100 |  | 8007803 | 28672 | SH |  | SOLE |  | 28672 | 0 | 0 |
| Target Corp Com | COM | 87612E106 |  | 18007724 | 200755 | SH |  | SOLE |  | 200755 | 0 | 0 |
| Technology Select Sector Spdr Fund | TECHNOLOGY | 81369Y803 |  | 6683746 | 23713 | SH |  | SOLE |  | 23713 | 0 | 0 |
| Thermo Fisher Scientific Inc Com | COM | 883556102 |  | 1969181 | 4060 | SH |  | SOLE |  | 4060 | 0 | 0 |
| Ulta Beauty Inc Com | COM | 90384S303 |  | 634777 | 1161 | SH |  | SOLE |  | 1161 | 0 | 0 |
| Unilever Plc Spon Adr New | SPON ADR NEW | 904767704 |  | 1461904 | 24661 | SH |  | SOLE |  | 24661 | 0 | 0 |
| Union Pac Corp Com | COM | 907818108 |  | 408684 | 1729 | SH |  | SOLE |  | 1729 | 0 | 0 |
| Unitedhealth Group Inc Com | COM | 91324P102 |  | 1286933 | 3727 | SH |  | SOLE |  | 3727 | 0 | 0 |
| Us Bancorp Del Com New | COM NEW | 902973304 |  | 799765 | 16548 | SH |  | SOLE |  | 16548 | 0 | 0 |
| Utilities Select Sector Spdr Fund | SBI INT-UTILS | 81369Y886 |  | 497271 | 5702 | SH |  | SOLE |  | 5702 | 0 | 0 |
| Vanguard Ftse Developed Markets Etf | VAN FTSE DEV MKT | 921943858 |  | 28773045 | 480191 | SH |  | SOLE |  | 480191 | 0 | 0 |
| Vanguard Ftse Emerging Markets Etf | FTSE EMR MKT ETF | 922042858 |  | 14409225 | 265951 | SH |  | SOLE |  | 265951 | 0 | 0 |
| Vanguard Mega Cap Growth Etf | MEGA GRWTH IND | 921910816 |  | 7165893 | 17807 | SH |  | SOLE |  | 17807 | 0 | 0 |
| Vanguard S 500 Etf | S 500 ETF SHS | 922908363 |  | 38327148 | 62587 | SH |  | SOLE |  | 62587 | 0 | 0 |
| Vanguard Total Bond Market Etf | TOTAL END MRKT | 921937835 |  | 7054441 | 94856 | SH |  | SOLE |  | 94856 | 0 | 0 |
| Vanguard Total International Stock Etf | VG TL INTL STK F | 921909768 |  | 50961039 | 693725 | SH |  | SOLE |  | 693725 | 0 | 0 |
| Vanguard Total World Stock Etf | TT WRLD ST ETF | 922042742 |  | 12734925 | 92416 | SH |  | SOLE |  | 92416 | 0 | 0 |
| Visa Inc Com Cl A | COM CL A | 92826C839 |  | 1642379 | 4811 | SH |  | SOLE |  | 4811 | 0 | 0 |
| Walmart Inc Com | COM | 931142103 |  | 1168907 | 11342 | SH |  | SOLE |  | 11342 | 0 | 0 |
| Waste Mgmt Inc Del Com | COM | 94106L109 |  | 1254756 | 5682 | SH |  | SOLE |  | 5682 | 0 | 0 |
| Wells Fargo Co New Com | COM | 949746101 |  | 203264 | 2425 | SH |  | SOLE |  | 2425 | 0 | 0 |
| Xpo Inc Com | COM | 983793100 |  | 1513105 | 11705 | SH |  | SOLE |  | 11705 | 0 | 0 |
| Yum China Hldgs Inc Com | COM | 98850P109 |  | 1474731 | 34360 | SH |  | SOLE |  | 34360 | 0 | 0 |
| Zebra Technologies Corporation Cl A | CL A | 989207105 |  | 1245992 | 4193 | SH |  | SOLE |  | 4193 | 0 | 0 |

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