# EDGAR Filing Document

**Accession Number:** 0001843553
**File Stem:** 0001843553-23-000001
**Filing Date:** 2023-1
**Character Count:** 19253
**Document Hash:** 7740b59b03883c55f8debb6a3d1af310
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001843553-23-000001.hdr.sgml**: 20230119

**ACCESSION NUMBER**: 0001843553-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230119

**DATE AS OF CHANGE**: 20230119

**EFFECTIVENESS DATE**: 20230119

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ellsworth Advisors, LLC
- **CENTRAL INDEX KEY:** 0001843553
- **IRS NUMBER:** 825501752
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20543
- **FILM NUMBER:** 23537080

**BUSINESS ADDRESS:**
- **STREET 1:** 1764 GEORGETOWN ROAD
- **CITY:** HUDSON
- **STATE:** OH
- **ZIP:** 44236
- **BUSINESS PHONE:** 2349012831

**MAIL ADDRESS:**
- **STREET 1:** 1764 GEORGETOWN ROAD
- **CITY:** HUDSON
- **STATE:** OH
- **ZIP:** 44236

### 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:** Ellsworth Advisors LLC<br>**Address:** 1764 GEORGETOWN ROAD<br>HUDSON, OH 44236

**Form 13F File Number:** 028-20543

**CRD Number (if applicable):** 000297464

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:** Michelle Schwab<br>**Title:** Chief Compliance Officer<br>**Phone:** 234-901-2831

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

Michelle Schwab  Hudson, OH  01-19-2023<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:** 160

**Form 13F Information Table Value Total:** $266865359

      (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 |  | 2991039 | 24367 | SH |  | SOLE | 0 | 0 | 0 | 24367 |
| AB ACTIVE ETFS INC | ULTRA SHORT INCM | 00039J103 |  | 5372267 | 106990 | SH |  | SOLE | 0 | 0 | 0 | 106990 |
| ABBOTT LABS | COM | 002824100 |  | 3291856 | 29521 | SH |  | SOLE | 0 | 0 | 0 | 29521 |
| ALLIANCE RESOURCE PARTNERS L | UT LTD PART | 01877R108 |  | 344858 | 16963 | SH |  | SOLE | 0 | 0 | 0 | 16963 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 3547825 | 66055 | SH |  | SOLE | 0 | 0 | 0 | 66055 |
| ALPHA METALLURGICAL RESOUR I | COM | 020764106 |  | 391776 | 2402 | SH |  | SOLE | 0 | 0 | 0 | 2402 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 2582506 | 28138 | SH |  | SOLE | 0 | 0 | 0 | 28138 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 374637 | 4052 | SH |  | SOLE | 0 | 0 | 0 | 4052 |
| ANALOG DEVICES INC | COM | 032654105 |  | 3725630 | 22444 | SH |  | SOLE | 0 | 0 | 0 | 22444 |
| APPLE INC | COM | 037833100 |  | 4893024 | 36188 | SH |  | SOLE | 0 | 0 | 0 | 36188 |
| ASBURY AUTOMOTIVE GROUP INC | COM | 043436104 |  | 4451074 | 24146 | SH |  | SOLE | 0 | 0 | 0 | 24146 |
| ATN INTL INC | COM | 00215F107 |  | 409813 | 8725 | SH |  | SOLE | 0 | 0 | 0 | 8725 |
| AUTONATION INC | COM | 05329W102 |  | 445561 | 4041 | SH |  | SOLE | 0 | 0 | 0 | 4041 |
| AUTOZONE INC | COM | 053332102 |  | 457261 | 195 | SH |  | SOLE | 0 | 0 | 0 | 195 |
| AXONICS INC | COM | 05465P101 |  | 358106 | 5416 | SH |  | SOLE | 0 | 0 | 0 | 5416 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 4207787 | 85472 | SH |  | SOLE | 0 | 0 | 0 | 85472 |
| BARRETT BUSINESS SVCS INC | COM | 068463108 |  | 445967 | 4662 | SH |  | SOLE | 0 | 0 | 0 | 4662 |
| BCB BANCORP INC | COM | 055298103 |  | 351879 | 19774 | SH |  | SOLE | 0 | 0 | 0 | 19774 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 3743995 | 12144 | SH |  | SOLE | 0 | 0 | 0 | 12144 |
| BLACKSTONE INC | COM | 09260D107 |  | 2982938 | 35515 | SH |  | SOLE | 0 | 0 | 0 | 35515 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 4274803 | 94806 | SH |  | SOLE | 0 | 0 | 0 | 94806 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 625725 | 8674 | SH |  | SOLE | 0 | 0 | 0 | 8674 |
| BROADCOM INC | COM | 11135F101 |  | 525486 | 915 | SH |  | SOLE | 0 | 0 | 0 | 915 |
| BUNGE LIMITED | COM | G16962105 |  | 385360 | 3937 | SH |  | SOLE | 0 | 0 | 0 | 3937 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 364075 | 3159 | SH |  | SOLE | 0 | 0 | 0 | 3159 |
| CARMAX INC | COM | 143130102 |  | 2031847 | 32043 | SH |  | SOLE | 0 | 0 | 0 | 32043 |
| CATERPILLAR INC | COM | 149123101 |  | 5137646 | 20321 | SH |  | SOLE | 0 | 0 | 0 | 20321 |
| CHESAPEAKE ENERGY CORP | COM | 165167735 |  | 250650 | 2822 | SH |  | SOLE | 0 | 0 | 0 | 2822 |
| CHEVRON CORP NEW | COM | 166764100 |  | 349295 | 1971 | SH |  | SOLE | 0 | 0 | 0 | 1971 |
| CISCO SYS INC | COM | 17275R102 |  | 5185718 | 110570 | SH |  | SOLE | 0 | 0 | 0 | 110570 |
| CLEARFIELD INC | COM | 18482P103 |  | 454344 | 6017 | SH |  | SOLE | 0 | 0 | 0 | 6017 |
| COCA COLA CO | COM | 191216100 |  | 4045798 | 67644 | SH |  | SOLE | 0 | 0 | 0 | 67644 |
| COLISEUM ACQUISITION CORP | CLASS A ORD SHS | G2263T123 |  | 5040000 | 500000 | SH |  | SOLE | 0 | 0 | 0 | 500000 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 2772786 | 72434 | SH |  | SOLE | 0 | 0 | 0 | 72434 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 463893 | 3913 | SH |  | SOLE | 0 | 0 | 0 | 3913 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 4282899 | 45885 | SH |  | SOLE | 0 | 0 | 0 | 45885 |
| CONSOLIDATED WATER CO INC | ORD | G23773107 |  | 367781 | 25683 | SH |  | SOLE | 0 | 0 | 0 | 25683 |
| CSW INDUSTRIALS INC | COM | 126402106 |  | 479077 | 3985 | SH |  | SOLE | 0 | 0 | 0 | 3985 |
| CVB FINL CORP | COM | 126600105 |  | 360428 | 14622 | SH |  | SOLE | 0 | 0 | 0 | 14622 |
| CVS HEALTH CORP | COM | 126650100 |  | 1970699 | 22344 | SH |  | SOLE | 0 | 0 | 0 | 22344 |
| DANAHER CORPORATION | COM | 235851102 |  | 4119658 | 15223 | SH |  | SOLE | 0 | 0 | 0 | 15223 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 454867 | 11366 | SH |  | SOLE | 0 | 0 | 0 | 11366 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 249228 | 3980 | SH |  | SOLE | 0 | 0 | 0 | 3980 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 481758 | 3871 | SH |  | SOLE | 0 | 0 | 0 | 3871 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 1155009 | 10954 | SH |  | SOLE | 0 | 0 | 0 | 10954 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 305790 | 12212 | SH |  | SOLE | 0 | 0 | 0 | 12212 |
| DISNEY WALT CO | COM | 254687106 |  | 1577838 | 15931 | SH |  | SOLE | 0 | 0 | 0 | 15931 |
| DOUBLELINE YIELD OPPORTUNITI | COM | 25862D105 |  | 278673 | 19219 | SH |  | SOLE | 0 | 0 | 0 | 19219 |
| EATON CORP PLC | SHS | G29183103 |  | 4401168 | 27939 | SH |  | SOLE | 0 | 0 | 0 | 27939 |
| ENBRIDGE INC | COM | 29250N105 |  | 409223 | 9935 | SH |  | SOLE | 0 | 0 | 0 | 9935 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 494252 | 19660 | SH |  | SOLE | 0 | 0 | 0 | 19660 |
| EOG RES INC | COM | 26875P101 |  | 1959903 | 15218 | SH |  | SOLE | 0 | 0 | 0 | 15218 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 424987 | 14017 | SH |  | SOLE | 0 | 0 | 0 | 14017 |
| ESQUIRE FINL HLDGS INC | COM | 29667J101 |  | 548934 | 13484 | SH |  | SOLE | 0 | 0 | 0 | 13484 |
| EXLSERVICE HOLDINGS INC | COM | 302081104 |  | 539109 | 3213 | SH |  | SOLE | 0 | 0 | 0 | 3213 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2884424 | 26077 | SH |  | SOLE | 0 | 0 | 0 | 26077 |
| FABRINET | SHS | G3323L100 |  | 418433 | 3094 | SH |  | SOLE | 0 | 0 | 0 | 3094 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 3440216 | 49400 | SH |  | SOLE | 0 | 0 | 0 | 49400 |
| FIRST TR EXCHANGE TRAD FD VI | FST TR GLB FD | 33739H101 |  | 346693 | 14180 | SH |  | SOLE | 0 | 0 | 0 | 14180 |
| FIRST TR EXCHANGE-TRADED FD | FIRST TR ENH NEW | 33739Q408 |  | 3809410 | 63927 | SH |  | SOLE | 0 | 0 | 0 | 63927 |
| FIRST TR EXCHANGE-TRADED FD | RISNG DIVD ACHIV | 33738R506 |  | 623205 | 13676 | SH |  | SOLE | 0 | 0 | 0 | 13676 |
| FIRST TR EXCHNG TRADED FD VI | CBOE VEST BUFERD | 33740U778 |  | 2096570 | 114692 | SH |  | SOLE | 0 | 0 | 0 | 114692 |
| FISERV INC | COM | 337738108 |  | 4165847 | 40355 | SH |  | SOLE | 0 | 0 | 0 | 40355 |
| FLEETCOR TECHNOLOGIES INC | COM | 339041105 |  | 2607353 | 13592 | SH |  | SOLE | 0 | 0 | 0 | 13592 |
| GENERAC HLDGS INC | COM | 368736104 |  | 507697 | 4457 | SH |  | SOLE | 0 | 0 | 0 | 4457 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 459512 | 5487 | SH |  | SOLE | 0 | 0 | 0 | 5487 |
| GREENE CNTY BANCORP INC | COM | 394357107 |  | 412801 | 8126 | SH |  | SOLE | 0 | 0 | 0 | 8126 |
| HACKETT GROUP INC | COM | 404609109 |  | 405082 | 19560 | SH |  | SOLE | 0 | 0 | 0 | 19560 |
| HARMONY BIOSCIENCES HLDGS IN | COM | 413197104 |  | 311243 | 6270 | SH |  | SOLE | 0 | 0 | 0 | 6270 |
| HAYNES INTL INC | COM NEW | 420877201 |  | 507322 | 9790 | SH |  | SOLE | 0 | 0 | 0 | 9790 |
| HONEYWELL INTL INC | COM | 438516106 |  | 1874191 | 9176 | SH |  | SOLE | 0 | 0 | 0 | 9176 |
| HORMEL FOODS CORP | COM | 440452100 |  | 219810 | 4944 | SH |  | SOLE | 0 | 0 | 0 | 4944 |
| HUMANA INC | COM | 444859102 |  | 4245519 | 8758 | SH |  | SOLE | 0 | 0 | 0 | 8758 |
| INTEL CORP | COM | 458140100 |  | 2693514 | 93492 | SH |  | SOLE | 0 | 0 | 0 | 93492 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 3348601 | 31101 | SH |  | SOLE | 0 | 0 | 0 | 31101 |
| INVESTAR HLDG CORP | COM | 46134L105 |  | 367092 | 17082 | SH |  | SOLE | 0 | 0 | 0 | 17082 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1605369 | 74426 | SH |  | SOLE | 0 | 0 | 0 | 74426 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 250410 | 2872 | SH |  | SOLE | 0 | 0 | 0 | 2872 |
| ISHARES TR | CORE S ETF | 464287200 |  | 267071 | 679 | SH |  | SOLE | 0 | 0 | 0 | 679 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1804831 | 10632 | SH |  | SOLE | 0 | 0 | 0 | 10632 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 429343 | 3144 | SH |  | SOLE | 0 | 0 | 0 | 3144 |
| KORNIT DIGITAL LTD | SHS | M6372Q113 |  | 344149 | 13905 | SH |  | SOLE | 0 | 0 | 0 | 13905 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 515795 | 5090 | SH |  | SOLE | 0 | 0 | 0 | 5090 |
| LANTHEUS HLDGS INC | COM | 516544103 |  | 733443 | 13251 | SH |  | SOLE | 0 | 0 | 0 | 13251 |
| LATTICE STRATEGIES TR | HARTFORD MLT ETF | 518416102 |  | 219275 | 8398 | SH |  | SOLE | 0 | 0 | 0 | 8398 |
| LENNAR CORP | CL A | 526057104 |  | 1641031 | 16821 | SH |  | SOLE | 0 | 0 | 0 | 16821 |
| LORDSTOWN MOTORS CORP | COM CL A | 54405Q100 |  | 27244 | 23898 | SH |  | SOLE | 0 | 0 | 0 | 23898 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 3690534 | 40636 | SH |  | SOLE | 0 | 0 | 0 | 40636 |
| M-TRON INDS INC | COM | 55380K109 |  | 149611 | 14589 | SH |  | SOLE | 0 | 0 | 0 | 14589 |
| MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 |  | 314995 | 6024 | SH |  | SOLE | 0 | 0 | 0 | 6024 |
| MARTEN TRANS LTD | COM | 573075108 |  | 470271 | 23572 | SH |  | SOLE | 0 | 0 | 0 | 23572 |
| MCDONALDS CORP | COM | 580135101 |  | 4640977 | 17445 | SH |  | SOLE | 0 | 0 | 0 | 17445 |
| MERCK  CO INC | COM | 58933Y105 |  | 5638984 | 51834 | SH |  | SOLE | 0 | 0 | 0 | 51834 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2006208 | 15082 | SH |  | SOLE | 0 | 0 | 0 | 15082 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 2237934 | 30283 | SH |  | SOLE | 0 | 0 | 0 | 30283 |
| MICROSOFT CORP | COM | 594918104 |  | 3551027 | 15059 | SH |  | SOLE | 0 | 0 | 0 | 15059 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 238746 | 2472 | SH |  | SOLE | 0 | 0 | 0 | 2472 |
| NETFLIX INC | COM | 64110L106 |  | 494064 | 1514 | SH |  | SOLE | 0 | 0 | 0 | 1514 |
| NIKE INC | CL B | 654106103 |  | 2195168 | 17363 | SH |  | SOLE | 0 | 0 | 0 | 17363 |
| NORTHEAST BK LEWISTON ME | COM | 66405S100 |  | 472865 | 11163 | SH |  | SOLE | 0 | 0 | 0 | 11163 |
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 |  | 3823 | 15225 | SH |  | SOLE | 0 | 0 | 0 | 15225 |
| NOW INC | COM | 67011P100 |  | 344125 | 27508 | SH |  | SOLE | 0 | 0 | 0 | 27508 |
| NUCOR CORP | COM | 670346105 |  | 2284881 | 14998 | SH |  | SOLE | 0 | 0 | 0 | 14998 |
| NUVALENT INC | COM | 670703107 |  | 358634 | 10871 | SH |  | SOLE | 0 | 0 | 0 | 10871 |
| NV5 GLOBAL INC | COM | 62945V109 |  | 628277 | 4741 | SH |  | SOLE | 0 | 0 | 0 | 4741 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1680372 | 9670 | SH |  | SOLE | 0 | 0 | 0 | 9670 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 250851 | 3894 | SH |  | SOLE | 0 | 0 | 0 | 3894 |
| OPTION CARE HEALTH INC | COM NEW | 68404L201 |  | 371261 | 13091 | SH |  | SOLE | 0 | 0 | 0 | 13091 |
| P A M TRANSN SVCS INC | COM | 693149106 |  | 368695 | 13344 | SH |  | SOLE | 0 | 0 | 0 | 13344 |
| PACKAGING CORP AMER | COM | 695156109 |  | 3895775 | 29759 | SH |  | SOLE | 0 | 0 | 0 | 29759 |
| PAYCHEX INC | COM | 704326107 |  | 3949837 | 33693 | SH |  | SOLE | 0 | 0 | 0 | 33693 |
| PEPSICO INC | COM | 713448108 |  | 2100984 | 12242 | SH |  | SOLE | 0 | 0 | 0 | 12242 |
| PFIZER INC | COM | 717081103 |  | 4290786 | 95351 | SH |  | SOLE | 0 | 0 | 0 | 95351 |
| PREFORMED LINE PRODS CO | COM | 740444104 |  | 395643 | 4622 | SH |  | SOLE | 0 | 0 | 0 | 4622 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 519463 | 3548 | SH |  | SOLE | 0 | 0 | 0 | 3548 |
| PROGRESS SOFTWARE CORP | COM | 743312100 |  | 378326 | 7305 | SH |  | SOLE | 0 | 0 | 0 | 7305 |
| PROSHARES TR | PSHS ULTSH 20YRS | 74347B201 |  | 1789843 | 65658 | SH |  | SOLE | 0 | 0 | 0 | 65658 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 3660133 | 37132 | SH |  | SOLE | 0 | 0 | 0 | 37132 |
| PTC THERAPEUTICS INC | COM | 69366J200 |  | 315957 | 6694 | SH |  | SOLE | 0 | 0 | 0 | 6694 |
| PUBLIC STORAGE | COM | 74460D109 |  | 356724 | 1248 | SH |  | SOLE | 0 | 0 | 0 | 1248 |
| PVH CORPORATION | COM | 693656100 |  | 238145 | 2795 | SH |  | SOLE | 0 | 0 | 0 | 2795 |
| RCI HOSPITALITY HLDGS INC | COM | 74934Q108 |  | 439996 | 4760 | SH |  | SOLE | 0 | 0 | 0 | 4760 |
| RESTAURANT BRANDS INTL INC | COM | 76131D103 |  | 500758 | 7704 | SH |  | SOLE | 0 | 0 | 0 | 7704 |
| RICHARDSON ELECTRS LTD | COM | 763165107 |  | 518302 | 22093 | SH |  | SOLE | 0 | 0 | 0 | 22093 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 413935 | 5418 | SH |  | SOLE | 0 | 0 | 0 | 5418 |
| S GLOBAL INC | COM | 78409V104 |  | 3469908 | 9530 | SH |  | SOLE | 0 | 0 | 0 | 9530 |
| SANOFI | SPONSORED ADR | 80105N105 |  | 440572 | 8962 | SH |  | SOLE | 0 | 0 | 0 | 8962 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 300542 | 4323 | SH |  | SOLE | 0 | 0 | 0 | 4323 |
| SELECT SECTOR SPDR TR | RL EST SEL SEC | 81369Y860 |  | 2165260 | 55577 | SH |  | SOLE | 0 | 0 | 0 | 55577 |
| SHELL PLC | SPON ADS | 780259305 |  | 455617 | 7803 | SH |  | SOLE | 0 | 0 | 0 | 7803 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 991248 | 4058 | SH |  | SOLE | 0 | 0 | 0 | 4058 |
| SILICOM LTD | ORD | M84116108 |  | 358437 | 7594 | SH |  | SOLE | 0 | 0 | 0 | 7594 |
| SMARTFINANCIAL INC | COM NEW | 83190L208 |  | 392489 | 14569 | SH |  | SOLE | 0 | 0 | 0 | 14569 |
| SOUTHERN CO | COM | 842587107 |  | 3907735 | 57704 | SH |  | SOLE | 0 | 0 | 0 | 57704 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 11334537 | 64008 | SH |  | SOLE | 0 | 0 | 0 | 64008 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 2930990 | 52386 | SH |  | SOLE | 0 | 0 | 0 | 52386 |
| STARBUCKS CORP | COM | 855244109 |  | 1224142 | 11658 | SH |  | SOLE | 0 | 0 | 0 | 11658 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 341782 | 10731 | SH |  | SOLE | 0 | 0 | 0 | 10731 |
| STRYKER CORPORATION | COM | 863667101 |  | 3686433 | 14628 | SH |  | SOLE | 0 | 0 | 0 | 14628 |
| TITAN MACHY INC | COM | 88830R101 |  | 508003 | 12448 | SH |  | SOLE | 0 | 0 | 0 | 12448 |
| TOWNEBANK PORTSMOUTH VA | COM | 89214P109 |  | 289867 | 9630 | SH |  | SOLE | 0 | 0 | 0 | 9630 |
| TRUST FOR PROFESSIONAL MANAG | CROSSINGBRDG PRE | 89834G778 |  | 9637451 | 463339 | SH |  | SOLE | 0 | 0 | 0 | 463339 |
| UFP TECHNOLOGIES INC | COM | 902673102 |  | 551635 | 4801 | SH |  | SOLE | 0 | 0 | 0 | 4801 |
| UNION PAC CORP | COM | 907818108 |  | 493522 | 2356 | SH |  | SOLE | 0 | 0 | 0 | 2356 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 3636690 | 20579 | SH |  | SOLE | 0 | 0 | 0 | 20579 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 397660 | 835 | SH |  | SOLE | 0 | 0 | 0 | 835 |
| UNITIL CORP | COM | 913259107 |  | 412325 | 8025 | SH |  | SOLE | 0 | 0 | 0 | 8025 |
| UNIVERSAL LOGISTICS HLDGS IN | COM | 91388P105 |  | 445682 | 12694 | SH |  | SOLE | 0 | 0 | 0 | 12694 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 349856 | 1569 | SH |  | SOLE | 0 | 0 | 0 | 1569 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 348244 | 1646 | SH |  | SOLE | 0 | 0 | 0 | 1646 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 232156 | 1181 | SH |  | SOLE | 0 | 0 | 0 | 1181 |
| VANGUARD INTL EQUITY INDEX F | FTSE PACIFIC ETF | 922042866 |  | 203544 | 3007 | SH |  | SOLE | 0 | 0 | 0 | 3007 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 466279 | 3048 | SH |  | SOLE | 0 | 0 | 0 | 3048 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 3236666 | 80977 | SH |  | SOLE | 0 | 0 | 0 | 80977 |
| VISA INC | COM CL A | 92826C839 |  | 6299084 | 28703 | SH |  | SOLE | 0 | 0 | 0 | 28703 |
| VOLTA INC | COM CL A | 92873V102 |  | 284394 | 321386 | SH |  | SOLE | 0 | 0 | 0 | 321386 |
| WALMART INC | COM | 931142103 |  | 272039 | 1932 | SH |  | SOLE | 0 | 0 | 0 | 1932 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 4097122 | 27151 | SH |  | SOLE | 0 | 0 | 0 | 27151 |
| WHITE MTNS INS GROUP LTD | COM | G9618E107 |  | 427549 | 299 | SH |  | SOLE | 0 | 0 | 0 | 299 |
| WINMARK CORP | COM | 974250102 |  | 397987 | 1551 | SH |  | SOLE | 0 | 0 | 0 | 1551 |

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