# EDGAR Filing Document

**Accession Number:** 0000764611
**File Stem:** 0000764611-23-000001
**Filing Date:** 2023-2
**Character Count:** 11240
**Document Hash:** b8234eec13ae2a52df8895ccb3a7354f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000764611-23-000001.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0000764611-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**EFFECTIVENESS DATE**: 20230206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARKANSAS FINANCIAL GROUP, INC.
- **CENTRAL INDEX KEY:** 0000764611
- **IRS NUMBER:** 710561670
- **STATE OF INCORPORATION:** AR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17010
- **FILM NUMBER:** 23589538

**BUSINESS ADDRESS:**
- **STREET 1:** 1001 N. UNIVERSITY AVE.
- **CITY:** LITTLE ROCK
- **STATE:** AR
- **ZIP:** 72207
- **BUSINESS PHONE:** 5013769051

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 7757
- **CITY:** LITTLE ROCK
- **STATE:** AR
- **ZIP:** 72217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RESOURCE PLANNING GROUP INC                             /ADV
- **DATE OF NAME CHANGE:** 19880926

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARKANSAS FINANCIAL GROUP INC                            /ADV
- **DATE OF NAME CHANGE:** 19850314

### 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:** ARKANSAS FINANCIAL GROUP INC.<br>**Address:** P.O. BOX 7757<br>LITTLE ROCK, AR 72217

**Form 13F File Number:** 028-17010

**CRD Number (if applicable):** 000104808

**SEC File Number (if applicable):** 801-23922

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:** Mary McCraw<br>**Title:** Chief Compliance Officer<br>**Phone:** (501) 376-9051

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

Mary McCraw  Little Rock, AR  02-06-2023<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:** 63

**Form 13F Information Table Value Total:** $456363361

      (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 |
| Abbvie Inc Com Usd0.01 | COM | 00287Y109 |  | 249468 | 1544 | SH |  | SOLE |  | 0 | 0 | 1544 |
| Alps Etf Trust      Riverfront Strategicincome Fd | RIVRFRNT STR INC | 00162Q783 |  | 327234 | 14460 | SH |  | SOLE |  | 0 | 0 | 14460 |
| Apple Inc. | COM | 037833100 |  | 342060 | 2633 | SH |  | SOLE |  | 0 | 0 | 2633 |
| Becton Dickinson | COM | 075887109 |  | 259895 | 1022 | SH |  | SOLE |  | 0 | 0 | 1022 |
| Berkshire Hathaway Class B | CL B NEW | 084670702 |  | 1332286 | 4313 | SH |  | SOLE |  | 0 | 0 | 4313 |
| Davis Fundamental ETF Tr Select | SELECT FINL ETF | 23908L108 |  | 396319 | 14642 | SH |  | SOLE |  | 0 | 0 | 14642 |
| Exxon Mobil Corporation | COM | 30231G102 |  | 330018 | 2992 | SH |  | SOLE |  | 0 | 0 | 2992 |
| Fidelity NASDAQ Composite Index ETF | NASDAQ COMPSIT | 315912808 |  | 737501 | 18001 | SH |  | SOLE |  | 0 | 0 | 18001 |
| First Tr DJ Select Microcap Index Fd | COM SHS ANNUAL | 33718M105 |  | 969877 | 17477 | SH |  | SOLE |  | 0 | 0 | 17477 |
| First Tr Exch Traded Fd Iii Managd Mun Etf | MANAGD MUN ETF | 33739N108 |  | 6033946 | 120414 | SH |  | SOLE |  | 0 | 0 | 120414 |
| Flexshares Tst Morningstar Global Nat Res Idx | MORNSTAR UPSTR | 33939L407 |  | 4144520 | 95342 | SH |  | SOLE |  | 0 | 0 | 95342 |
| Home BancShares Inc. | COM | 436893200 |  | 275189 | 12075 | SH |  | SOLE |  | 0 | 0 | 12075 |
| Invesco QQQ Tr Unit Ser 1 | UNIT SER 1 | 46090E103 |  | 6749864 | 25349 | SH |  | SOLE |  | 0 | 0 | 25349 |
| Invesco S 500 Fin. Equal Weight | S EQL FIN | 46137V340 |  | 968584 | 17170 | SH |  | SOLE |  | 0 | 0 | 17170 |
| Ishares 0-5 Year Tips Bond Etf | 0-5 YR TIPS ETF | 46429B747 |  | 3701933 | 38180 | SH |  | SOLE |  | 0 | 0 | 38180 |
| iShares Barclays TIPS Bond | TIPS BD ETF | 464287176 |  | 33279373 | 312659 | SH |  | SOLE |  | 0 | 0 | 312659 |
| iShares Core 1-5 Year USD Bond ETF | CORE 1 5 YR USD | 46432F859 |  | 8831588 | 190172 | SH |  | SOLE |  | 0 | 0 | 190172 |
| iShares Core MSCI Emerging Mkts ETF | CORE MSCI  EMKT | 46434G103 |  | 393571 | 8428 | SH |  | SOLE |  | 0 | 0 | 8428 |
| iShares Edge MSCI Min Vol Glbl ETF | MSCI GBL MIN VOL | 464286525 |  | 609838 | 6418 | SH |  | SOLE |  | 0 | 0 | 6418 |
| iShares Edge MSCI Min Vol USA ETF | MIN VOL USA ETF | 46429B697 |  | 6192049 | 85881 | SH |  | SOLE |  | 0 | 0 | 85881 |
| Ishares Inc Jp Mrg Em Crp Bd | JP MRG EM CRP BD | 464286251 |  | 220288 | 5152 | SH |  | SOLE |  | 0 | 0 | 5152 |
| iShares Intermediate-Term | INTERM CR BD ETF | 464288638 |  | 22708324 | 458661 | SH |  | SOLE |  | 0 | 0 | 458661 |
| iShares Intl Aggregate Bond | CORE INTL AGGR | 46435G672 |  | 8480805 | 178356 | SH |  | SOLE |  | 0 | 0 | 178356 |
| iShares Micro-Cap ETF | ISHARES MICRO-CAP | 464288869 |  | 11835232 | 109758 | SH |  | SOLE |  | 0 | 0 | 109758 |
| iShares MSCI Emr Mrk Ex Chna | MSCI EMRG CHN | 46434G764 |  | 2895005 | 60986 | SH |  | SOLE |  | 0 | 0 | 60986 |
| iShares S 500 Index | CORE S ETF | 464287200 |  | 17830942 | 46409 | SH |  | SOLE |  | 0 | 0 | 46409 |
| iShares S National Municipal Bond Fund | NAT AMUN ETF | 464288414 |  | 5469313 | 51832 | SH |  | SOLE |  | 0 | 0 | 51832 |
| iShares Short Term Corporat Bd ETF | 1-3 YR CR BD ETF | 464288646 |  | 44853078 | 900303 | SH |  | SOLE |  | 0 | 0 | 900303 |
| iShares Short-Term National Muni Bond ETF | SHRT NAT MUN ETF | 464288158 |  | 11189944 | 107317 | SH |  | SOLE |  | 0 | 0 | 107317 |
| iShares SP SmallCap 600 Index | CORE S SCP ETF | 464287804 |  | 5347181 | 56500 | SH |  | SOLE |  | 0 | 0 | 56500 |
| iShares Tr Expanded Tech | EXPANDED TECH | 464287515 |  | 759619 | 2969 | SH |  | SOLE |  | 0 | 0 | 2969 |
| Ishares Tr Residential And Multisector Real Estate Etf | RESIDENTIAL MULT | 464288562 |  | 986078 | 14429 | SH |  | SOLE |  | 0 | 0 | 14429 |
| iShares TR S Midcap 400 Index | CORE S MCP ETF | 464287507 |  | 60404373 | 249718 | SH |  | SOLE |  | 0 | 0 | 249718 |
| iShares Trust Core MSCI EAFE ETF | CORE MSCI EAFE | 46432F842 |  | 1182317 | 19181 | SH |  | SOLE |  | 0 | 0 | 19181 |
| iShares U S Financial Services Etf | US FIN SVC ETF | 464287770 |  | 7047622 | 44741 | SH |  | SOLE |  | 0 | 0 | 44741 |
| iShares US Healthcare ETF | US HLTHCARE ETF | 464287762 |  | 2279429 | 8034 | SH |  | SOLE |  | 0 | 0 | 8034 |
| iShares US Med Dvc ETF | MED DEVICE ETF | 464288810 |  | 8218090 | 156327 | SH |  | SOLE |  | 0 | 0 | 156327 |
| iShares US Real Estate ETF | U.S. REAL ES ETF | 464287739 |  | 4672606 | 55501 | SH |  | SOLE |  | 0 | 0 | 55501 |
| Johnson  Johnson | COM | 478160104 |  | 427846 | 2422 | SH |  | SOLE |  | 0 | 0 | 2422 |
| JPMorgan Chase  Co | COM | 46625H100 |  | 632039 | 4713 | SH |  | SOLE |  | 0 | 0 | 4713 |
| McDonalds Corporation | COM | 580135101 |  | 224264 | 851 | SH |  | SOLE |  | 0 | 0 | 851 |
| Microsoft Corp | COM | 594918104 |  | 293300 | 1223 | SH |  | SOLE |  | 0 | 0 | 1223 |
| Norfolk Southern Corp | COM | 655844108 |  | 568491 | 2307 | SH |  | SOLE |  | 0 | 0 | 2307 |
| Public Storage | COM | 74460D109 |  | 214626 | 766 | SH |  | SOLE |  | 0 | 0 | 766 |
| S 500 Depository Receipts | TR UNIT | 78462F103 |  | 4929604 | 12890 | SH |  | SOLE |  | 0 | 0 | 12890 |
| Schwab Strategic Tr Emerging Mkts Equity Etf | EMRG MKTEQ ETF | 808524706 |  | 7864785 | 332268 | SH |  | SOLE |  | 0 | 0 | 332268 |
| Schwab US Dividend Equity Etf | US DIVIDEND EQ | 808524797 |  | 332452 | 4401 | SH |  | SOLE |  | 0 | 0 | 4401 |
| Schwab US Mid-Cap ETF | US MID-CAP ETF | 808524508 |  | 1212473 | 18480 | SH |  | SOLE |  | 0 | 0 | 18480 |
| Schwab US TIPS ETF | US TIPS ETF | 808524870 |  | 2357792 | 45526 | SH |  | SOLE |  | 0 | 0 | 45526 |
| Select Sector SPDR Tr Rl Est Sel Sec | RL EST SEL SEC | 81369Y860 |  | 778137 | 21071 | SH |  | SOLE |  | 0 | 0 | 21071 |
| SPDR Dow Jones Indl Avg ETF | UT SER 1 | 78467X109 |  | 77789785 | 234780 | SH |  | SOLE |  | 0 | 0 | 234780 |
| Spdr Ftse International Government Inflation-Protected Bond Etf | FTSE INT GVT ETF | 78464A490 |  | 205874 | 4997 | SH |  | SOLE |  | 0 | 0 | 4997 |
| SPDR Portfolio Mid Cap ETF | PORTFOLIO S | 78464A847 |  | 388323 | 9137 | SH |  | SOLE |  | 0 | 0 | 9137 |
| Spdr Portfolio S 600 Small Cap Etf | PORTFOLIO S | 78468R853 |  | 337721 | 9135 | SH |  | SOLE |  | 0 | 0 | 9135 |
| Spdr Portfolio Short Term Corporate Bond Etf | PORTFOLIO SHORT | 78464A474 |  | 10004584 | 340524 | SH |  | SOLE |  | 0 | 0 | 340524 |
| Spdr Ser Tr Portfolio Crport | PORTFOLIO CRPORT | 78464A144 |  | 2790804 | 98337 | SH |  | SOLE |  | 0 | 0 | 98337 |
| Spdr Ser Tr S Semicndctr | S SEMICNDCTR | 78464A862 |  | 523263 | 3129 | SH |  | SOLE |  | 0 | 0 | 3129 |
| Vaneck Vectors Agribusiness ETF | AGRIBUSINESS EFT | 92189F700 |  | 8618116 | 100397 | SH |  | SOLE |  | 0 | 0 | 100397 |
| Vanguard Charlotte  Total Intl Bd Index Fd Etf | TOTAL INT BD ETF | 92203J407 |  | 2536264 | 53474 | SH |  | SOLE |  | 0 | 0 | 53474 |
| Vanguard Midcap Viper | MID CAP ETF | 922908629 |  | 34034119 | 166989 | SH |  | SOLE |  | 0 | 0 | 166989 |
| Vanguard REIT Viper | REIT ETF | 922908553 |  | 1277038 | 15483 | SH |  | SOLE |  | 0 | 0 | 15483 |
| Vanguard Sector Idx Fds Informatn | INF TECH ETF | 92204A702 |  | 4804592 | 15042 | SH |  | SOLE |  | 0 | 0 | 15042 |
| Wal-Mart Stores Inc. | COM | 931142103 |  | 711710 | 5019 | SH |  | SOLE |  | 0 | 0 | 5019 |

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