# EDGAR Filing Document

**Accession Number:** 0000709089
**File Stem:** 0001398344-23-001782
**Filing Date:** 2023-2
**Character Count:** 23391
**Document Hash:** 6674004dcd892dfb91ed7b3173bf53bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-001782.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001398344-23-001782

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230201

**EFFECTIVENESS DATE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOWNSEND ASSET MANAGEMENT CORP /NC/ /ADV
- **CENTRAL INDEX KEY:** 0000709089
- **IRS NUMBER:** 561347349
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19773
- **FILM NUMBER:** 23575696

**BUSINESS ADDRESS:**
- **STREET 1:** 3110 EDWARDS MILL ROAD, STE 150
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612
- **BUSINESS PHONE:** 9197829689

**MAIL ADDRESS:**
- **STREET 1:** 3110 EDWARDS MILL ROAD, STE 150
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ASSET MANAGEMENT ADVISORY CORP                          /ADV
- **DATE OF NAME CHANGE:** 19921005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TOWNSEND FINANCIAL GROUP LTD                            /ADV
- **DATE OF NAME CHANGE:** 19920327

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TOWNSEND ASSET MANAGEMENT CORP /NC/                     /ADV
- **DATE OF NAME CHANGE:** 19821105

### 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:** TOWNSEND ASSET MANAGEMENT CORP /NC/ /ADV<br>**Address:** 3110 EDWARDS MILL ROAD STE 150<br>RALEIGH, NC 27612

**Form 13F File Number:** 028-19773

**CRD Number (if applicable):** 000108216

**SEC File Number (if applicable):** 801-18013

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:** Caleb Griffith<br>**Title:** Chief Compliance Officer<br>**Phone:** 919-782-9689

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

/s/ Caleb Griffith  Raleigh, NC  02-01-2023<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:** 198

**Form 13F Information Table Value Total:** $199328879

      (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 | 88579Y101 |  | 475762 | 3967 | SH |  | SOLE |  | 3967 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 245211 | 1517 | SH |  | SOLE |  | 1517 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 2293757 | 8596 | SH |  | SOLE |  | 8596 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 1274273 | 17713 | SH |  | SOLE |  | 17713 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 497775 | 5610 | SH |  | SOLE |  | 5610 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2051789 | 23255 | SH |  | SOLE |  | 23255 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 3558912 | 42368 | SH |  | SOLE |  | 42368 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 282951 | 2980 | SH |  | SOLE |  | 2980 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 1724577 | 8140 | SH |  | SOLE |  | 8140 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 463819 | 1766 | SH |  | SOLE |  | 1766 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 280491 | 1710 | SH |  | SOLE |  | 1710 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 7745334 | 59612 | SH |  | SOLE |  | 59612 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1844716 | 7723 | SH |  | SOLE |  | 7723 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 231821 | 94 | SH |  | SOLE |  | 94 | 0 | 0 |
| BALL CORP | COM | 058498106 |  | 236011 | 4615 | SH |  | SOLE |  | 4615 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 396084 | 11959 | SH |  | SOLE |  | 11959 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 292445 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| BECTON DICKINSON  CO | 6% DP CONV PFD B | 075887406 |  | 10016 | 200 | SH |  | SOLE |  | 200 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1978813 | 6406 | SH |  | SOLE |  | 6406 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 281340 | 3792 | SH |  | SOLE |  | 3792 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 565537 | 7860 | SH |  | SOLE |  | 7860 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 338163 | 605 | SH |  | SOLE |  | 605 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 1918796 | 8010 | SH |  | SOLE |  | 8010 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1194411 | 6654 | SH |  | SOLE |  | 6654 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 210239 | 4413 | SH |  | SOLE |  | 4413 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 272305 | 1940 | SH |  | SOLE |  | 1940 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 4453218 | 70008 | SH |  | SOLE |  | 70008 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 1418220 | 18000 | SH |  | SOLE |  | 18000 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 373947 | 3169 | SH |  | SOLE |  | 3169 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 5041557 | 21754 | SH |  | SOLE |  | 21754 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 270372 | 8465 | SH |  | SOLE |  | 8465 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 473061 | 8048 | SH |  | SOLE |  | 8048 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 3392710 | 7432 | SH |  | SOLE |  | 7432 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 2666602 | 28615 | SH |  | SOLE |  | 28615 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 4216507 | 15886 | SH |  | SOLE |  | 15886 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 2434135 | 5677 | SH |  | SOLE |  | 5677 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 3449248 | 39701 | SH |  | SOLE |  | 39701 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 551553 | 10946 | SH |  | SOLE |  | 10946 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 3088410 | 29987 | SH |  | SOLE |  | 29987 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 568119 | 8278 | SH |  | SOLE |  | 8278 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 1670026 | 11473 | SH |  | SOLE |  | 11473 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 391474 | 16230 | SH |  | SOLE |  | 16230 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 598230 | 5424 | SH |  | SOLE |  | 5424 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | NAS CLNEDG GREEN | 33733E500 |  | 226687 | 4804 | SH |  | SOLE |  | 4804 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 681717 | 6745 | SH |  | SOLE |  | 6745 | 0 | 0 |
| FORD MTR CO DEL | COM | 345370860 |  | 184045 | 15825 | SH |  | SOLE |  | 15825 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 418552 | 1219 | SH |  | SOLE |  | 1219 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 3535528 | 11193 | SH |  | SOLE |  | 11193 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 574196 | 2679 | SH |  | SOLE |  | 2679 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 246193 | 1747 | SH |  | SOLE |  | 1747 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 727139 | 11379 | SH |  | SOLE |  | 11379 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S HDL VOL | 46138E362 |  | 6574 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S 500 HB ETF | 46138E370 |  | 251052 | 4028 | SH |  | SOLE |  | 4028 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 |  | 37397 | 3345 | SH |  | SOLE |  | 3345 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | FTSE RAFI EMNG | 46138E727 |  | 811 | 46 | SH |  | SOLE |  | 46 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SOLAR ETF | 46138G706 |  | 274847 | 3768 | SH |  | SOLE |  | 3768 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | TAXABLE MUN BD | 46138G805 |  | 15426 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | WILDERHIL CLAN | 46137V134 |  | 149254 | 3894 | SH |  | SOLE |  | 3894 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | WATER RES ETF | 46137V142 |  | 61333 | 1190 | SH |  | SOLE |  | 1190 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S PUR GWT | 46137V266 |  | 41509 | 274 | SH |  | SOLE |  | 274 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL HLT | 46137V332 |  | 13318 | 46 | SH |  | SOLE |  | 46 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 1157007 | 8191 | SH |  | SOLE |  | 8191 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | INVESCO MSCI | 46137V407 |  | 86960 | 1820 | SH |  | SOLE |  | 1820 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | FTSE RAFI 1500 | 46137V597 |  | 323221 | 2040 | SH |  | SOLE |  | 2040 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | FTSE RAFI 1000 | 46137V613 |  | 29789 | 192 | SH |  | SOLE |  | 192 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 6369173 | 23919 | SH |  | SOLE |  | 23919 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 1841955 | 15273 | SH |  | SOLE |  | 15273 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 4045 | 38 | SH |  | SOLE |  | 38 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 388703 | 1012 | SH |  | SOLE |  | 1012 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 25150 | 259 | SH |  | SOLE |  | 259 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 231438 | 2195 | SH |  | SOLE |  | 2195 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 65581 | 1121 | SH |  | SOLE |  | 1121 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 29213 | 305 | SH |  | SOLE |  | 305 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 1786 | 22 | SH |  | SOLE |  | 22 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 666033 | 10147 | SH |  | SOLE |  | 10147 | 0 | 0 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 113900 | 1081 | SH |  | SOLE |  | 1081 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 210264 | 3117 | SH |  | SOLE |  | 3117 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2442820 | 10099 | SH |  | SOLE |  | 10099 | 0 | 0 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 74196 | 290 | SH |  | SOLE |  | 290 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 13892 | 106 | SH |  | SOLE |  | 106 | 0 | 0 |
| ISHARES TR | GLOBAL 100 ETF | 464287572 |  | 47555 | 742 | SH |  | SOLE |  | 742 | 0 | 0 |
| ISHARES TR | US CONSUM DISCRE | 464287580 |  | 60378 | 1060 | SH |  | SOLE |  | 1060 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 436942 | 2881 | SH |  | SOLE |  | 2881 | 0 | 0 |
| ISHARES TR | S MC 400GR ETF | 464287606 |  | 67071 | 982 | SH |  | SOLE |  | 982 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1057451 | 4936 | SH |  | SOLE |  | 4936 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 1342273 | 6376 | SH |  | SOLE |  | 6376 | 0 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 472071 | 3404 | SH |  | SOLE |  | 3404 | 0 | 0 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 899519 | 4193 | SH |  | SOLE |  | 4193 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 983966 | 5643 | SH |  | SOLE |  | 5643 | 0 | 0 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 73080 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 45588 | 612 | SH |  | SOLE |  | 612 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1059210 | 11192 | SH |  | SOLE |  | 11192 | 0 | 0 |
| ISHARES TR | DOW JONES US ETF | 464287846 |  | 37380 | 400 | SH |  | SOLE |  | 400 | 0 | 0 |
| ISHARES TR | SP SMCP600VL ETF | 464287879 |  | 84188 | 922 | SH |  | SOLE |  | 922 | 0 | 0 |
| ISHARES TR | S SML 600 GWT | 464287887 |  | 78844 | 730 | SH |  | SOLE |  | 730 | 0 | 0 |
| ISHARES TR | MORNINGSTAR VALU | 464288109 |  | 63230 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| ISHARES TR | EAFE SML CP ETF | 464288273 |  | 2357 | 42 | SH |  | SOLE |  | 42 | 0 | 0 |
| ISHARES TR | MBS ETF | 464288588 |  | 3432 | 37 | SH |  | SOLE |  | 37 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 17287 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| ISHARES TR | US HOME CONS ETF | 464288752 |  | 8060 | 133 | SH |  | SOLE |  | 133 | 0 | 0 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 7886 | 150 | SH |  | SOLE |  | 150 | 0 | 0 |
| ISHARES TR | US HLTHCR PR ETF | 464288828 |  | 260998 | 975 | SH |  | SOLE |  | 975 | 0 | 0 |
| ISHARES TR | EAFE GRWTH ETF | 464288885 |  | 5225 | 62 | SH |  | SOLE |  | 62 | 0 | 0 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 4885 | 215 | SH |  | SOLE |  | 215 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 4702 | 99 | SH |  | SOLE |  | 99 | 0 | 0 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 |  | 120940 | 1902 | SH |  | SOLE |  | 1902 | 0 | 0 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 654792 | 9082 | SH |  | SOLE |  | 9082 | 0 | 0 |
| ISHARES TR | MSCI USA VALUE | 46432F388 |  | 4138 | 45 | SH |  | SOLE |  | 45 | 0 | 0 |
| ISHARES TR | MSCI USA MMENTM | 46432F396 |  | 36329 | 249 | SH |  | SOLE |  | 249 | 0 | 0 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 420247 | 6818 | SH |  | SOLE |  | 6818 | 0 | 0 |
| ISHARES TR | CORE 1 5 YR USD | 46432F859 |  | 1486 | 32 | SH |  | SOLE |  | 32 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 4178765 | 23656 | SH |  | SOLE |  | 23656 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 4668004 | 34810 | SH |  | SOLE |  | 34810 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 233999 | 1724 | SH |  | SOLE |  | 1724 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 795460 | 3206 | SH |  | SOLE |  | 3206 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 897406 | 2453 | SH |  | SOLE |  | 2453 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 256935 | 1290 | SH |  | SOLE |  | 1290 | 0 | 0 |
| MAIN STR CAP CORP | COM | 56035L104 |  | 282750 | 7652 | SH |  | SOLE |  | 7652 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 4732812 | 31787 | SH |  | SOLE |  | 31787 | 0 | 0 |
| MASTEC INC | COM | 576323109 |  | 4958868 | 58114 | SH |  | SOLE |  | 58114 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 313557 | 902 | SH |  | SOLE |  | 902 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 1490418 | 5656 | SH |  | SOLE |  | 5656 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1046437 | 9432 | SH |  | SOLE |  | 9432 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 5705265 | 23790 | SH |  | SOLE |  | 23790 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 503336 | 6021 | SH |  | SOLE |  | 6021 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 286669 | 1962 | SH |  | SOLE |  | 1962 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 297283 | 3637 | SH |  | SOLE |  | 3637 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 2633716 | 36980 | SH |  | SOLE |  | 36980 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 540230 | 2990 | SH |  | SOLE |  | 2990 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 294220 | 5742 | SH |  | SOLE |  | 5742 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 274040 | 2708 | SH |  | SOLE |  | 2708 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 351181 | 3374 | SH |  | SOLE |  | 3374 | 0 | 0 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 253014 | 2796 | SH |  | SOLE |  | 2796 | 0 | 0 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 40249 | 408 | SH |  | SOLE |  | 408 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 7717197 | 50918 | SH |  | SOLE |  | 50918 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 4263911 | 38784 | SH |  | SOLE |  | 38784 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 359960 | 5675 | SH |  | SOLE |  | 5675 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 1212877 | 2807 | SH |  | SOLE |  | 2807 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 642497 | 1918 | SH |  | SOLE |  | 1918 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 612612 | 13671 | SH |  | SOLE |  | 13671 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 2140960 | 47419 | SH |  | SOLE |  | 47419 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 1695817 | 30522 | SH |  | SOLE |  | 30522 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 42847 | 649 | SH |  | SOLE |  | 649 | 0 | 0 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 602910 | 9189 | SH |  | SOLE |  | 9189 | 0 | 0 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 423087 | 10444 | SH |  | SOLE |  | 10444 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWB FDT EMK LG | 808524730 |  | 248753 | 10038 | SH |  | SOLE |  | 10038 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWB FDT INT LG | 808524755 |  | 152010 | 5229 | SH |  | SOLE |  | 5229 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US SC | 808524763 |  | 328948 | 7041 | SH |  | SOLE |  | 7041 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US LG | 808524771 |  | 599651 | 11221 | SH |  | SOLE |  | 11221 | 0 | 0 |
| SCHWAB STRATEGIC TR | SCHWAB FDT US BM | 808524789 |  | 2978079 | 56596 | SH |  | SOLE |  | 56596 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 1824569 | 24154 | SH |  | SOLE |  | 24154 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 10533 | 327 | SH |  | SOLE |  | 327 | 0 | 0 |
| SCHWAB STRATEGIC TR | US AGGREGATE B | 808524839 |  | 109175 | 2392 | SH |  | SOLE |  | 2392 | 0 | 0 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 31852 | 647 | SH |  | SOLE |  | 647 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 13362 | 258 | SH |  | SOLE |  | 258 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 14060 | 181 | SH |  | SOLE |  | 181 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 815 | 6 | SH |  | SOLE |  | 6 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 9102 | 122 | SH |  | SOLE |  | 122 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 53535 | 414 | SH |  | SOLE |  | 414 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 418539 | 4785 | SH |  | SOLE |  | 4785 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 |  | 9035 | 92 | SH |  | SOLE |  | 92 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 691841 | 5560 | SH |  | SOLE |  | 5560 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 109325 | 1551 | SH |  | SOLE |  | 1551 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 853789 | 2233 | SH |  | SOLE |  | 2233 | 0 | 0 |
| SPDR SER TR | S 600 SMCP GRW | 78464A201 |  | 5634 | 78 | SH |  | SOLE |  | 78 | 0 | 0 |
| SPDR SER TR | BLOOMBERG EMERGI | 78464A391 |  | 7751 | 377 | SH |  | SOLE |  | 377 | 0 | 0 |
| SPDR SER TR | S REGL BKG | 78464A698 |  | 9927 | 169 | SH |  | SOLE |  | 169 | 0 | 0 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 234576 | 1875 | SH |  | SOLE |  | 1875 | 0 | 0 |
| SPDR SER TR | S 600 SML CAP | 78464A813 |  | 203075 | 2470 | SH |  | SOLE |  | 2470 | 0 | 0 |
| SPDR SER TR | S 400 MDCP GRW | 78464A821 |  | 95428 | 1460 | SH |  | SOLE |  | 1460 | 0 | 0 |
| T ROWE PRICE ETF INC | PRICE BLUE CHIP | 87283Q107 |  | 740205 | 35897 | SH |  | SOLE |  | 35897 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 654137 | 4389 | SH |  | SOLE |  | 4389 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1050830 | 1908 | SH |  | SOLE |  | 1908 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1308189 | 2467 | SH |  | SOLE |  | 2467 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 200654 | 571 | SH |  | SOLE |  | 571 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 4733 | 35 | SH |  | SOLE |  | 35 | 0 | 0 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 264794 | 1473 | SH |  | SOLE |  | 1473 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 80775 | 979 | SH |  | SOLE |  | 979 | 0 | 0 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 602672 | 3005 | SH |  | SOLE |  | 3005 | 0 | 0 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 453983 | 2859 | SH |  | SOLE |  | 2859 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 432158 | 2120 | SH |  | SOLE |  | 2120 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 4181 | 24 | SH |  | SOLE |  | 24 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 415113 | 1948 | SH |  | SOLE |  | 1948 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 679085 | 4838 | SH |  | SOLE |  | 4838 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 88458 | 482 | SH |  | SOLE |  | 482 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1118857 | 5852 | SH |  | SOLE |  | 5852 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1581395 | 10414 | SH |  | SOLE |  | 10414 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 295825 | 2734 | SH |  | SOLE |  | 2734 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 312955 | 7943 | SH |  | SOLE |  | 7943 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 6233742 | 30005 | SH |  | SOLE |  | 30005 | 0 | 0 |
| WABTEC | COM | 929740108 |  | 6154136 | 61659 | SH |  | SOLE |  | 61659 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 658016 | 4641 | SH |  | SOLE |  | 4641 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 1568800 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| WISDOMTREE TR | YIELD ENHANCD US | 97717X511 |  | 220578 | 5172 | SH |  | SOLE |  | 5172 | 0 | 0 |
| WISDOMTREE TR | ITL HDG QTLY DIV | 97717X594 |  | 251537 | 7060 | SH |  | SOLE |  | 7060 | 0 | 0 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 8402221 | 139202 | SH |  | SOLE |  | 139202 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 2922572 | 35438 | SH |  | SOLE |  | 35438 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 3260674 | 22250 | SH |  | SOLE |  | 22250 | 0 | 0 |

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