# EDGAR Filing Document

**Accession Number:** 0001330463
**File Stem:** 0001330463-26-000001
**Filing Date:** 2026-2
**Character Count:** 30576
**Document Hash:** 4c92691236fd63bb654da1b71e92c0d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001330463-26-000001.hdr.sgml**: 20260206

**ACCESSION NUMBER**: 0001330463-26-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260206

**DATE AS OF CHANGE**: 20260205

**EFFECTIVENESS DATE**: 20260206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ironwood Investment Counsel, LLC
- **CENTRAL INDEX KEY:** 0001330463

**ORGANIZATION NAME:**
- **EIN:** 861017967
- **STATE OF INCORPORATION:** AZ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11471
- **FILM NUMBER:** 26604329

**BUSINESS ADDRESS:**
- **STREET 1:** THE SCOTTSDALE FORUM
- **STREET 2:** 6263 N. SCOTTSDALE ROAD, SUITE 200
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85250
- **BUSINESS PHONE:** 602-493-4042

**MAIL ADDRESS:**
- **STREET 1:** THE SCOTTSDALE FORUM
- **STREET 2:** 6263 N. SCOTTSDALE ROAD, SUITE 200
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85250

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Ironwood Investment Counsel LLC<br>**Address:** THE SCOTTSDALE FORUM<br>6263 N. SCOTTSDALE ROAD SUITE 200<br>SCOTTSDALE, AZ 85250

**Form 13F File Number:** 028-11471

**CRD Number (if applicable):** 000110623

**SEC File Number (if applicable):** 801-60073

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:** Matthew Carter<br>**Title:** Chief Compliance Officer<br>**Phone:** 602-493-4042

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

Matthew Carter  Scottsdale, AZ  02-05-2026<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:** 267

**Form 13F Information Table Value Total:** $716082490

      (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 Company | COM | 88579Y101 |  | 283697 | 1772 | SH |  | SOLE |  | 1772 | 0 | 0 |
| Abbott Laboratories | COM | 028241000 |  | 1540552 | 12295 | SH |  | SOLE |  | 12295 | 0 | 0 |
| AbbVie Inc | COM | 00287Y109 |  | 2146402 | 9393 | SH |  | SOLE |  | 9393 | 0 | 0 |
| Accenture PLC | SH CL A | G1151C101 |  | 10666320 | 39755 | SH |  | SOLE |  | 39755 | 0 | 0 |
| Adobe Systems Inc | COM | 00724F101 |  | 7847498 | 22422 | SH |  | SOLE |  | 22419 | 0 | 3 |
| Advanced Micro Devices | COM | 007903107 |  | 786349 | 3671 | SH |  | SOLE |  | 3671 | 0 | 0 |
| Affiliated Managers Group Inc | COM | 008252108 |  | 214768 | 745 | SH |  | SOLE |  | 745 | 0 | 0 |
| Air Prod  Chemicals Inc | COM | 009158106 |  | 1584896 | 6416 | SH |  | SOLE |  | 6416 | 0 | 0 |
| Akre Focus ETF | AKRE FOCUS ETF | 74316P579 |  | 22545528 | 344154 | SH |  | SOLE |  | 344154 | 0 | 0 |
| Allstate Corporation | COM | 020002101 |  | 310347 | 1490 | SH |  | SOLE |  | 1490 | 0 | 0 |
| Alphabet Inc Class A | CAP STK CL A | 02079K305 |  | 21201785 | 67737 | SH |  | SOLE |  | 67729 | 0 | 8 |
| Alphabet Inc Class C | CAP STK CL C | 02079K107 |  | 5242795 | 16707 | SH |  | SOLE |  | 16707 | 0 | 0 |
| Amazon.com Inc. | COM | 023135106 |  | 16464617 | 71330 | SH |  | SOLE |  | 71324 | 0 | 6 |
| Amdocs Limited | SHS | G02602103 |  | 3514381 | 43651 | SH |  | SOLE |  | 43651 | 0 | 0 |
| Amer Electric Pwr Co Inc | COM | 025537101 |  | 552104 | 4788 | SH |  | SOLE |  | 4788 | 0 | 0 |
| Ameren Corp | COM | 023608102 |  | 461820 | 4624 | SH |  | SOLE |  | 2382 | 0 | 2242 |
| American Express | COM | 025816109 |  | 13664679 | 36936 | SH |  | SOLE |  | 36936 | 0 | 0 |
| Amgen | COM | 031162100 |  | 6013727 | 18373 | SH |  | SOLE |  | 18373 | 0 | 0 |
| Amphenol Corp New | CL A | 032095101 |  | 691376 | 5116 | SH |  | SOLE |  | 5116 | 0 | 0 |
| Anheuser-Busch Inbev SA ADR | SPONSORED ADR | 03524A108 |  | 5721279 | 89339 | SH |  | SOLE |  | 89329 | 0 | 10 |
| Apple | COM | 037833100 |  | 33363647 | 122723 | SH |  | SOLE |  | 122723 | 0 | 0 |
| ASML Holding NV ADR | N Y REGISTRY SHS | N07059210 |  | 296351 | 277 | SH |  | SOLE |  | 277 | 0 | 0 |
| AT | COM | 00206R102 |  | 2584176 | 104032 | SH |  | SOLE |  | 104032 | 0 | 0 |
| Auto Data Processing | COM | 053015103 |  | 1623040 | 6309 | SH |  | SOLE |  | 6309 | 0 | 0 |
| B O K Financial Cp New | COM NEW | 05561Q201 |  | 304797 | 2573 | SH |  | SOLE |  | 2573 | 0 | 0 |
| Bancfirst Corp Oklahoma | COM | 05945F103 |  | 1211490 | 11427 | SH |  | SOLE |  | 11427 | 0 | 0 |
| Bank of Montreal (USA) | COM | 063671101 |  | 208312 | 1605 | SH |  | SOLE |  | 1605 | 0 | 0 |
| Bank Of New York Mellon Corp | COM | 064058100 |  | 365194 | 3145 | SH |  | SOLE |  | 3145 | 0 | 0 |
| Berkshire Hathaway Inc Class A | CL A | 084670108 |  | 1509600 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| Berkshire Hathaway Inc Class B | CL B NEW | 084670207 |  | 12442998 | 24754 | SH |  | SOLE |  | 24754 | 0 | 0 |
| BlackRock Inc | COM | 09247X101 |  | 1489350 | 1391 | SH |  | SOLE |  | 1391 | 0 | 0 |
| Boeing Co | COM | 097023105 |  | 412962 | 1902 | SH |  | SOLE |  | 1902 | 0 | 0 |
| Booking Holdings Inc | COM | 09857L108 |  | 1269213 | 237 | SH |  | SOLE |  | 237 | 0 | 0 |
| Bristol-Myers Squibb Co | COM | 110122108 |  | 230809 | 4279 | SH |  | SOLE |  | 4279 | 0 | 0 |
| Broadcom Ltd | COM | 11135F101 |  | 8255809 | 23853 | SH |  | SOLE |  | 23853 | 0 | 0 |
| Brookfield Infr Prt Lp Lp Int Unit | LP INT UNIT | G16252101 |  | 227851 | 6558 | SH |  | SOLE |  | 6558 | 0 | 0 |
| Brown  Brown Inc | COM | 115236101 |  | 2101131 | 26363 | SH |  | SOLE |  | 26363 | 0 | 0 |
| Calvert International Responsible ETF | CALVERT INTERNAT | 61774R106 |  | 285200 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| Capital One Financial | COM | 14040H105 |  | 965804 | 3985 | SH |  | SOLE |  | 3985 | 0 | 0 |
| Cardinal Health | COM | 14149Y108 |  | 4602235 | 22395 | SH |  | SOLE |  | 22395 | 0 | 0 |
| Carrier Global Corp | COM | 14448C104 |  | 221411 | 4190 | SH |  | SOLE |  | 4190 | 0 | 0 |
| Caterpillar Inc | COM | 149123101 |  | 1710863 | 2986 | SH |  | SOLE |  | 2986 | 0 | 0 |
| Centuri Holdings Inc | COM SHS | 155923105 |  | 822720 | 32583 | SH |  | SOLE |  | 32583 | 0 | 0 |
| CH Robinson Worldwide Inc. | COM NEW | 12541W209 |  | 378097 | 2351 | SH |  | SOLE |  | 2351 | 0 | 0 |
| Charles Schwab Corp | COM | 808513105 |  | 12760400 | 127718 | SH |  | SOLE |  | 127708 | 0 | 10 |
| Chevron Corp | COM | 166764100 |  | 2191638 | 14379 | SH |  | SOLE |  | 14379 | 0 | 0 |
| Chubb Limited | COM | H1467J104 |  | 717563 | 2299 | SH |  | SOLE |  | 2299 | 0 | 0 |
| Church  Dwight Co Inc | COM | 171340102 |  | 382020 | 4556 | SH |  | SOLE |  | 4556 | 0 | 0 |
| Cigna Corp | COM | 125523100 |  | 530150 | 1926 | SH |  | SOLE |  | 1926 | 0 | 0 |
| Cisco Systems Inc | COM | 17275R102 |  | 3119053 | 40491 | SH |  | SOLE |  | 40491 | 0 | 0 |
| Clorox Company | COM | 189054109 |  | 400295 | 3970 | SH |  | SOLE |  | 3970 | 0 | 0 |
| Coca Cola | COM | 191216100 |  | 1512919 | 21640 | SH |  | SOLE |  | 21640 | 0 | 0 |
| Colgate-Palmolive Co | COM | 194162103 |  | 552404 | 6990 | SH |  | SOLE |  | 6990 | 0 | 0 |
| Comcast Corp New Cl A | CL A | 20030N101 |  | 6000092 | 200739 | SH |  | SOLE |  | 200739 | 0 | 0 |
| Communication Services Sel Sect SPDR ETF | COMMUNICATION | 81369Y852 |  | 1278073 | 10856 | SH |  | SOLE |  | 10856 | 0 | 0 |
| Consolidated Edison | COM | 209115104 |  | 226846 | 2284 | SH |  | SOLE |  | 2284 | 0 | 0 |
| Corning Inc | COM | 219350105 |  | 2278030 | 26016 | SH |  | SOLE |  | 26016 | 0 | 0 |
| Corteva Inc | COM | 22052L104 |  | 5330655 | 79526 | SH |  | SOLE |  | 79505 | 0 | 21 |
| Costco | COM | 22160K105 |  | 3603751 | 4179 | SH |  | SOLE |  | 4179 | 0 | 0 |
| Crown Castle International | COM | 22822V101 |  | 3156825 | 35521 | SH |  | SOLE |  | 35521 | 0 | 0 |
| CSX Corp | COM | 126408103 |  | 329367 | 9086 | SH |  | SOLE |  | 9086 | 0 | 0 |
| Cummins Inc | COM | 231021106 |  | 9549472 | 18707 | SH |  | SOLE |  | 18705 | 0 | 2 |
| Deere  Co | COM | 244199105 |  | 939520 | 2018 | SH |  | SOLE |  | 2018 | 0 | 0 |
| Dimensional US Equity Market ETF | US EQUITY MARKET | 25434V401 |  | 238901 | 3221 | SH |  | SOLE |  | 3221 | 0 | 0 |
| Dollar General Corp | COM | 256677105 |  | 5309261 | 39988 | SH |  | SOLE |  | 39988 | 0 | 0 |
| Donaldson Company Inc | COM | 257651109 |  | 828882 | 9349 | SH |  | SOLE |  | 9349 | 0 | 0 |
| Eaton Corp PLC | SHS | G29183103 |  | 1349654 | 4237 | SH |  | SOLE |  | 4237 | 0 | 0 |
| Ecolab Inc | COM | 278865100 |  | 952422 | 3628 | SH |  | SOLE |  | 3628 | 0 | 0 |
| Edwards Lifesciences Corp | COM | 28176E108 |  | 712349 | 8356 | SH |  | SOLE |  | 8356 | 0 | 0 |
| Elevance Health Inc | COM | 036752103 |  | 3424355 | 9768 | SH |  | SOLE |  | 9768 | 0 | 0 |
| Emerson Electric | COM | 291011104 |  | 1563697 | 11781 | SH |  | SOLE |  | 11781 | 0 | 0 |
| Enterprise Products Partners LP | COM | 293792107 |  | 320600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| Equifax Inc | COM | 294429105 |  | 359752 | 1658 | SH |  | SOLE |  | 1658 | 0 | 0 |
| Eversource Energy | COM | 30040W108 |  | 1360571 | 20207 | SH |  | SOLE |  | 20207 | 0 | 0 |
| Exxon Mobil | COM | 30231G102 |  | 3869700 | 32156 | SH |  | SOLE |  | 32156 | 0 | 0 |
| Fastenal Co | COM | 311900104 |  | 303463 | 7562 | SH |  | SOLE |  | 7562 | 0 | 0 |
| Fedex Corporation | COM | 31428X106 |  | 567328 | 1964 | SH |  | SOLE |  | 1964 | 0 | 0 |
| Financial Select Sector SPDR | FINANCIAL | 81369Y605 |  | 256297 | 4679 | SH |  | SOLE |  | 4679 | 0 | 0 |
| First Trust Preferred Sec  Inc ETF | PFD SECS INC ETF | 33739E108 |  | 4496578 | 246793 | SH |  | SOLE |  | 246793 | 0 | 0 |
| Franklin Resources Inc | COM | 354613101 |  | 987095 | 41318 | SH |  | SOLE |  | 41318 | 0 | 0 |
| Garmin Ltd | SHS | H2906T109 |  | 222526 | 1097 | SH |  | SOLE |  | 1097 | 0 | 0 |
| GE Vernova Inc | COM | 36828A101 |  | 615009 | 941 | SH |  | SOLE |  | 941 | 0 | 0 |
| General Electric | COM NEW | 369604301 |  | 701076 | 2276 | SH |  | SOLE |  | 2276 | 0 | 0 |
| General Mills Inc | COM | 370334104 |  | 1265566 | 27216 | SH |  | SOLE |  | 27216 | 0 | 0 |
| Gilead Sciences Inc | COM | 375558103 |  | 383522 | 3124 | SH |  | SOLE |  | 3124 | 0 | 0 |
| Goldman Sachs Group Inc | COM | 38141G104 |  | 240892 | 274 | SH |  | SOLE |  | 274 | 0 | 0 |
| Grainger W W | COM | 384802104 |  | 292624 | 290 | SH |  | SOLE |  | 290 | 0 | 0 |
| Guggenheim Etf | S MDCP400 PR | 46137V217 |  | 361960 | 6903 | SH |  | SOLE |  | 6903 | 0 | 0 |
| Guggenheim S 500 Equal Weight ETF | S EQL WGT | 46137V357 |  | 379648 | 1981 | SH |  | SOLE |  | 1981 | 0 | 0 |
| Hannon Armstrong Sustainable Infrastructure Capital Inc | COM | 41068X100 |  | 225698 | 7180 | SH |  | SOLE |  | 7180 | 0 | 0 |
| Heico Corporation | COM | 422806109 |  | 1131270 | 3496 | SH |  | SOLE |  | 3496 | 0 | 0 |
| Heico Corporation Class A | CL A | 422806208 |  | 873912 | 3462 | SH |  | SOLE |  | 3462 | 0 | 0 |
| Hershey Company | COM | 427866108 |  | 3963202 | 21778 | SH |  | SOLE |  | 21778 | 0 | 0 |
| Home Depot | COM | 437076102 |  | 5609108 | 16300 | SH |  | SOLE |  | 16300 | 0 | 0 |
| Honeywell International | COM | 438516106 |  | 1190244 | 6101 | SH |  | SOLE |  | 6101 | 0 | 0 |
| Howmet Aerospace | COM | 443201108 |  | 295228 | 1440 | SH |  | SOLE |  | 1440 | 0 | 0 |
| Hubbell Inc CL B | COM | 443510607 |  | 1928769 | 4343 | SH |  | SOLE |  | 4343 | 0 | 0 |
| IBM | COM | 459200101 |  | 6720382 | 22687 | SH |  | SOLE |  | 22687 | 0 | 0 |
| Illinois Tool Works | COM | 452308109 |  | 712299 | 2892 | SH |  | SOLE |  | 2892 | 0 | 0 |
| Intel Corporation | COM | 458140100 |  | 551675 | 14950 | SH |  | SOLE |  | 14950 | 0 | 0 |
| IntercontinentalExchange Group Inc | COM | 45866F104 |  | 419800 | 2592 | SH |  | SOLE |  | 2592 | 0 | 0 |
| Intuit Inc | COM | 461202103 |  | 1544101 | 2331 | SH |  | SOLE |  | 2331 | 0 | 0 |
| Intuitive Surgical New | COM NEW | 46120E602 |  | 1409670 | 2489 | SH |  | SOLE |  | 2489 | 0 | 0 |
| Invesco KBW Bank ETF | KBW BK ETF | 46138E628 |  | 224379 | 2662 | SH |  | SOLE |  | 2662 | 0 | 0 |
| Invesco Ltd | SHS | G491BT108 |  | 252230 | 9601 | SH |  | SOLE |  | 9601 | 0 | 0 |
| iShares Barclays 1-3 Yr Treas | 1 3 YR TREAS BD | 464287457 |  | 859101 | 10373 | SH |  | SOLE |  | 10373 | 0 | 0 |
| iShares Barclays Aggregate Bond | CORE US AGGBD ET | 464287226 |  | 1937472 | 19398 | SH |  | SOLE |  | 19398 | 0 | 0 |
| iShares Core 1-5 Year USD Bond ETF | CORE 1 5 YR USD | 46432F859 |  | 893532 | 18328 | SH |  | SOLE |  | 18328 | 0 | 0 |
| iShares Dow Jones Select Dividend Index | SELECT DIVID ETF | 464287168 |  | 262943 | 1863 | SH |  | SOLE |  | 1863 | 0 | 0 |
| iShares Dow Jones US Technology | U.S. TECH ETF | 464287721 |  | 294563 | 1475 | SH |  | SOLE |  | 1475 | 0 | 0 |
| iShares Edge MSCI USA Quality Factor ETF | MSCI USA QLT FCT | 46432F339 |  | 204158 | 1027 | SH |  | SOLE |  | 1027 | 0 | 0 |
| iShares iBoxx High Yield Corporate Bond ETF | IBOXX HI YD ETF | 464288513 |  | 1521409 | 18869 | SH |  | SOLE |  | 18869 | 0 | 0 |
| iShares MSCI ACWI ex US Index | MSCI ACWI EX US | 464288240 |  | 896118 | 13349 | SH |  | SOLE |  | 13349 | 0 | 0 |
| iShares MSCI EAFE Growth Index | EAFE GRWTH ETF | 464288885 |  | 1692364 | 14855 | SH |  | SOLE |  | 14855 | 0 | 0 |
| iShares MSCI EAFE Index | MSCI EAFE ETF | 464287465 |  | 1254343 | 13062 | SH |  | SOLE |  | 13062 | 0 | 0 |
| iShares MSCI EAFE Value Index | EAFE VALUE ETF | 464288877 |  | 2790260 | 39073 | SH |  | SOLE |  | 39073 | 0 | 0 |
| iShares Russell 1000 Growth Index | RUS 1000 GRW ETF | 464287614 |  | 729168 | 1540 | SH |  | SOLE |  | 1540 | 0 | 0 |
| iShares Russell 1000 Value Index | RUS 1000 VAL ETF | 464287598 |  | 7500921 | 35660 | SH |  | SOLE |  | 35658 | 0 | 2 |
| iShares Russell 2000 Growth Index | RUS 2000 GRW ETF | 464287648 |  | 1083375 | 3354 | SH |  | SOLE |  | 3354 | 0 | 0 |
| iShares Russell 2000 Index | RUSSELL 2000 ETF | 464287655 |  | 1250304 | 5079 | SH |  | SOLE |  | 5079 | 0 | 0 |
| iShares Russell 2000 Value | EAFE VALUE ETF | 464288877 |  | 250251 | 1381 | SH |  | SOLE |  | 1381 | 0 | 0 |
| iShares Russell Midcap Growth | RUS MD CP GR ETF | 464287481 |  | 442316 | 3230 | SH |  | SOLE |  | 3230 | 0 | 0 |
| iShares Russell Midcap Value | RUS MDCP VAL ETF | 464287473 |  | 2676927 | 18978 | SH |  | SOLE |  | 18978 | 0 | 0 |
| iShares S 500 Grwth | S 500 GRWT ETF | 464287309 |  | 1164908 | 9450 | SH |  | SOLE |  | 9450 | 0 | 0 |
| iShares S 500 Index | S 500 Index | 464287200 |  | 9348126 | 13648 | SH |  | SOLE |  | 13648 | 0 | 0 |
| iShares S 500 Value Index | S 500 VAL ETF | 464287408 |  | 433685 | 2045 | SH |  | SOLE |  | 2045 | 0 | 0 |
| iShares S 600 Small Cap Index | CORE S SCP ETF | 464287804 |  | 474075 | 3944 | SH |  | SOLE |  | 3944 | 0 | 0 |
| iShares S MidCap 400 Growth | S MC 400GR ETF | 464287606 |  | 264288 | 2728 | SH |  | SOLE |  | 2728 | 0 | 0 |
| iShares S MidCap 400 Index | CORE S MCP ETF | 464287507 |  | 750203 | 11366 | SH |  | SOLE |  | 11366 | 0 | 0 |
| iShares S SmallCap 600 Grwth Idx | S SML 600 GWT | 464287887 |  | 207364 | 1469 | SH |  | SOLE |  | 1469 | 0 | 0 |
| iShares US Aerospace  Defense | US AER DEF ETF | 464288760 |  | 250875 | 1168 | SH |  | SOLE |  | 1168 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 13260475 | 64075 | SH |  | SOLE |  | 64072 | 0 | 3 |
| Johnson Controls | SHS | G51502105 |  | 677924 | 5661 | SH |  | SOLE |  | 5661 | 0 | 0 |
| JP Morgan Chase  Co | COM | 46625H100 |  | 9403813 | 29184 | SH |  | SOLE |  | 29184 | 0 | 0 |
| JPMorgan BetaBuilders Canada | BETABUILDERS CDA | 46641Q225 |  | 200973 | 2161 | SH |  | SOLE |  | 2161 | 0 | 0 |
| JPMorgan BetaBuilders Europe | BETABUILDERS EUR | 46641Q191 |  | 242696 | 3311 | SH |  | SOLE |  | 3311 | 0 | 0 |
| JPMorgan BetaBuilders Japan | BETABULDRS JAPAN | 46641Q217 |  | 415430 | 6303 | SH |  | SOLE |  | 6303 | 0 | 0 |
| JPMorgan Ultra-Short Income ETF | ULTRA SHRT INC | 46641Q837 |  | 6961209 | 137600 | SH |  | SOLE |  | 137600 | 0 | 0 |
| JPMorgan Ultra-Short Municipal Inc ETF | ULTRA SHT MUNCPL | 46641Q654 |  | 3959617 | 77731 | SH |  | SOLE |  | 77731 | 0 | 0 |
| KLA Corporation | COM NEW | 482480100 |  | 9126753 | 7511 | SH |  | SOLE |  | 7510 | 0 | 1 |
| Laboratory Corp of America Holdings | COM NEW | 50540R409 |  | 5950264 | 23717 | SH |  | SOLE |  | 23717 | 0 | 0 |
| Lam Research Corporation | COM | 512807108 |  | 1111227 | 6491 | SH |  | SOLE |  | 6491 | 0 | 0 |
| LightPath Technologies Inc | COM CL A | 532257805 |  | 270000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| Lilly Eli  Co | COM CL A | 532457108 |  | 3622746 | 3371 | SH |  | SOLE |  | 3371 | 0 | 0 |
| Lockheed Martin Corp | COM | 539830109 |  | 8282601 | 17124 | SH |  | SOLE |  | 17124 | 0 | 0 |
| Lowes Companies | COM | 548661107 |  | 6430504 | 26664 | SH |  | SOLE |  | 26664 | 0 | 0 |
| Marathon Petroleum Corp | COM | 56585A102 |  | 379741 | 2335 | SH |  | SOLE |  | 2335 | 0 | 0 |
| Markel Corporation | COM | 570535104 |  | 219264 | 102 | SH |  | SOLE |  | 102 | 0 | 0 |
| Market Vectors High-Yield Muni ETF | HIGH YLD MUNIETF | 92189H409 |  | 3377657 | 66073 | SH |  | SOLE |  | 66073 | 0 | 0 |
| Marsh  McLennan Inc | COM | 571748102 |  | 1024626 | 5523 | SH |  | SOLE |  | 5523 | 0 | 0 |
| Martin Marietta Matr | COM | 573284106 |  | 310880 | 499 | SH |  | SOLE |  | 499 | 0 | 0 |
| Mastercard | COM | 57636Q104 |  | 10496115 | 18385 | SH |  | SOLE |  | 18383 | 0 | 2 |
| McCormick  Co | COM | 579780206 |  | 582068 | 8546 | SH |  | SOLE |  | 8546 | 0 | 0 |
| McDonalds | COM | 580135101 |  | 2756346 | 9018 | SH |  | SOLE |  | 9018 | 0 | 0 |
| McKesson Corp | COM | 58155Q103 |  | 5017913 | 6117 | SH |  | SOLE |  | 6117 | 0 | 0 |
| Medtronic | COM | 585055106 |  | 8026775 | 83560 | SH |  | SOLE |  | 83560 | 0 | 0 |
| Merck  Co Inc | COM | 589331107 |  | 5278316 | 50145 | SH |  | SOLE |  | 50145 | 0 | 0 |
| Meta Platforms Inc Class A | CL A | 30303M102 |  | 5839992 | 8847 | SH |  | SOLE |  | 8847 | 0 | 0 |
| Microchip Technology Inc | COM | 595017104 |  | 268643 | 4216 | SH |  | SOLE |  | 4216 | 0 | 0 |
| Micron Tech Inc | COM | 595112103 |  | 314397 | 1101 | SH |  | SOLE |  | 1101 | 0 | 0 |
| Microsoft | COM | 594918104 |  | 40393793 | 83523 | SH |  | SOLE |  | 83521 | 0 | 2 |
| Mondelez International Inc | CL A | 609207105 |  | 1562986 | 29035 | SH |  | SOLE |  | 29035 | 0 | 0 |
| Monster Beverage Corp | COM | 61174X109 |  | 751212 | 9798 | SH |  | SOLE |  | 9798 | 0 | 0 |
| Moodys Corp | COM | 615369105 |  | 1587721 | 3108 | SH |  | SOLE |  | 3108 | 0 | 0 |
| Morgan Stanley | COM NEW | 617446448 |  | 3007809 | 16942 | SH |  | SOLE |  | 16942 | 0 | 0 |
| Motorola Solutions Inc | COM NEW | 620076307 |  | 468033 | 1221 | SH |  | SOLE |  | 1221 | 0 | 0 |
| NetApp Inc. | COM | 64110D104 |  | 1245999 | 11635 | SH |  | SOLE |  | 11635 | 0 | 0 |
| Netflix Inc | COM | 64110L106 |  | 299563 | 3195 | SH |  | SOLE |  | 3195 | 0 | 0 |
| Newmont Mining Corporation | COM | 651639106 |  | 201796 | 2021 | SH |  | SOLE |  | 2021 | 0 | 0 |
| NextEra Energy Inc. | COM | 65339F101 |  | 481540 | 5998 | SH |  | SOLE |  | 5998 | 0 | 0 |
| Nike Inc | CL B | 654106103 |  | 324324 | 5090 | SH |  | SOLE |  | 5090 | 0 | 0 |
| NVIDIA Corp | COM | 67066G104 |  | 6712179 | 35990 | SH |  | SOLE |  | 35990 | 0 | 0 |
| NXP Semiconductors NV | COM | N6596X109 |  | 264813 | 1220 | SH |  | SOLE |  | 1220 | 0 | 0 |
| OGE Energy Corp. | COM | 670837103 |  | 4282340 | 100289 | SH |  | SOLE |  | 100289 | 0 | 0 |
| Omnicom Group Inc | COM | 681919106 |  | 2130060 | 26378 | SH |  | SOLE |  | 26378 | 0 | 0 |
| ONEOK Inc. | COM | 682680103 |  | 309141 | 4206 | SH |  | SOLE |  | 4206 | 0 | 0 |
| Oracle Corporation | COM | 68389X105 |  | 712178 | 3653 | SH |  | SOLE |  | 3653 | 0 | 0 |
| Palantir Technologies Inc | CL A | 69608A108 |  | 776690 | 4369 | SH |  | SOLE |  | 4369 | 0 | 0 |
| Parker Hannifin Corp | COM | 701094104 |  | 368284 | 419 | SH |  | SOLE |  | 419 | 0 | 0 |
| Paychex Inc | COM | 704326107 |  | 1871852 | 16686 | SH |  | SOLE |  | 16686 | 0 | 0 |
| Pepsico Incorporated | COM | 713448108 |  | 6424788 | 44765 | SH |  | SOLE |  | 44765 | 0 | 0 |
| Pfizer | COM | 717081103 |  | 415697 | 16694 | SH |  | SOLE |  | 16694 | 0 | 0 |
| Philip Morris Int'l Inc | COM | 718172109 |  | 467766 | 2916 | SH |  | SOLE |  | 2916 | 0 | 0 |
| PIMCO Enhanced Short Mat ETF | ENHAN SHRT MA AC | 72201R833 |  | 235318 | 2345 | SH |  | SOLE |  | 2345 | 0 | 0 |
| Pinnacle West Capital Cp | COM | 723484101 |  | 1182660 | 13333 | SH |  | SOLE |  | 13333 | 0 | 0 |
| PNC Finl Services Gp Inc | COM | 693475105 |  | 231899 | 1111 | SH |  | SOLE |  | 1111 | 0 | 0 |
| PowerShares Nasdaq Internet ETF | NASDAQ INTERNT | 46137V530 |  | 500663 | 9280 | SH |  | SOLE |  | 9280 | 0 | 0 |
| Powershares QQQ | UNIT SER 1 | 46090E103 |  | 2154595 | 3507 | SH |  | SOLE |  | 3507 | 0 | 0 |
| PowerShares Variable Rate Preferred | VAR RATE PFD | 46138G870 |  | 321370 | 13208 | SH |  | SOLE |  | 13208 | 0 | 0 |
| PPG Industries Inc | COM | 693506107 |  | 266396 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| Procter  Gamble | COM | 742718109 |  | 3989160 | 27835 | SH |  | SOLE |  | 27835 | 0 | 0 |
| Public Service Enterprise Group | COM | 744573106 |  | 373234 | 4648 | SH |  | SOLE |  | 4648 | 0 | 0 |
| Qualcomm | COM | 747525103 |  | 8376301 | 48969 | SH |  | SOLE |  | 48969 | 0 | 0 |
| Raytheon Technologies Co | COM | 75513E101 |  | 883075 | 4815 | SH |  | SOLE |  | 4815 | 0 | 0 |
| Ready Capital Corp | COM | 75574U101 |  | 55109 | 25279 | SH |  | SOLE |  | 25279 | 0 | 0 |
| Rockwell Automation Inc | COM | 773903109 |  | 280731 | 721 | SH |  | SOLE |  | 721 | 0 | 0 |
| Roper Industries Inc | COM | 776696106 |  | 365006 | 820 | SH |  | SOLE |  | 820 | 0 | 0 |
| S Global Inc | COM | 78409V104 |  | 1128334 | 2159 | SH |  | SOLE |  | 2159 | 0 | 0 |
| Salesforce.com Inc | COM | 79466L302 |  | 1273943 | 4808 | SH |  | SOLE |  | 4808 | 0 | 0 |
| Schwab Fundamental US Large Company ETF | SCHWAB FDT US LG | 808524771 |  | 13359165 | 490965 | SH |  | SOLE |  | 490608 | 0 | 357 |
| Schwab Fundemental US Small Company ETF | SCHWAB FDT US SC | 808524763 |  | 31142394 | 988333 | SH |  | SOLE |  | 988313 | 0 | 20 |
| Schwab International Equity ETF | INTL EQTY ETF | 808524805 |  | 236577 | 9841 | SH |  | SOLE |  | 9841 | 0 | 0 |
| Schwab U.S. Broad Market ETF | US BRD MKT ETF | 808524102 |  | 819687 | 31250 | SH |  | SOLE |  | 31250 | 0 | 0 |
| Schwab U.S. Dividend Equity ETF | US DIVIDEND EQ | 808524797 |  | 1874085 | 68322 | SH |  | SOLE |  | 68322 | 0 | 0 |
| Schwab U.S. Large-Cap ETF | US LRG CAP ETF | 808524201 |  | 582392 | 21642 | SH |  | SOLE |  | 21642 | 0 | 0 |
| Sherwin-Williams Co. | COM | 824348106 |  | 471463 | 1455 | SH |  | SOLE |  | 1455 | 0 | 0 |
| Southern Company | COM | 842587107 |  | 237753 | 2726 | SH |  | SOLE |  | 2726 | 0 | 0 |
| Southwest Gas Holdings | COM | 844895102 |  | 277989 | 3474 | SH |  | SOLE |  | 3474 | 0 | 0 |
| SPDR S 500 ETF | TR UNIT | 78462F103 |  | 3693359 | 5416 | SH |  | SOLE |  | 5416 | 0 | 0 |
| SPDR S Biotech ETF | S BIOTECH | 78464A870 |  | 300802 | 2467 | SH |  | SOLE |  | 2467 | 0 | 0 |
| Sprott Phys Silver Trust | TR UNIT | 85207K107 |  | 1039890 | 43970 | SH |  | SOLE |  | 43970 | 0 | 0 |
| Sprott Physical Gold Trust | PHYSICAL GOLD TR | 85207H104 |  | 215290 | 6520 | SH |  | SOLE |  | 6520 | 0 | 0 |
| Sprouts Farmers Market Inc | COM | 85208M102 |  | 276932 | 3476 | SH |  | SOLE |  | 3476 | 0 | 0 |
| SS Technologies Holdings Inc | COM | 78467J100 |  | 344345 | 3938 | SH |  | SOLE |  | 3938 | 0 | 0 |
| Starbucks Corp | COM | 855244109 |  | 899934 | 10686 | SH |  | SOLE |  | 10686 | 0 | 0 |
| State Street Corp | COM | 857477103 |  | 772671 | 5989 | SH |  | SOLE |  | 5989 | 0 | 0 |
| Steris Corp | SHS USD | G8473T100 |  | 200214 | 789 | SH |  | SOLE |  | 789 | 0 | 0 |
| Stryker | COM | 863667101 |  | 1101155 | 3133 | SH |  | SOLE |  | 3133 | 0 | 0 |
| Synopsys Inc | COM | 871607107 |  | 233920 | 498 | SH |  | SOLE |  | 498 | 0 | 0 |
| Sysco | COM | 871829107 |  | 8663612 | 117568 | SH |  | SOLE |  | 117568 | 0 | 0 |
| T J X Cos Inc | COM | 872540109 |  | 1804149 | 11745 | SH |  | SOLE |  | 11745 | 0 | 0 |
| T. Rowe Price Group Inc | COM | 74144T108 |  | 1258918 | 12296 | SH |  | SOLE |  | 12296 | 0 | 0 |
| Taiwan Semiconductr Adrf | SPONSORED ADS | 874039100 |  | 1112274 | 3660 | SH |  | SOLE |  | 3660 | 0 | 0 |
| Targa Resources Corp | COM | 87612G101 |  | 277119 | 1502 | SH |  | SOLE |  | 1502 | 0 | 0 |
| Target | COM | 87612E106 |  | 340775 | 3486 | SH |  | SOLE |  | 3486 | 0 | 0 |
| Technology Select SPDR | TECHNOLOGY | 81369Y803 |  | 455999 | 3167 | SH |  | SOLE |  | 3167 | 0 | 0 |
| Teradyne Inc. | COM | 880770102 |  | 6839915 | 35337 | SH |  | SOLE |  | 35330 | 0 | 7 |
| Tesla Motors Inc. | COM | 88160R101 |  | 5360212 | 11919 | SH |  | SOLE |  | 11919 | 0 | 0 |
| Texas Instruments Inc | COM | 882508104 |  | 802336 | 4624 | SH |  | SOLE |  | 4624 | 0 | 0 |
| The Trade Desk Inc | COM CL A | 88339J105 |  | 2149485 | 56625 | SH |  | SOLE |  | 56625 | 0 | 0 |
| Thermo Fisher Scientific Inc | COM | 883556102 |  | 350567 | 605 | SH |  | SOLE |  | 605 | 0 | 0 |
| Trane Technologies PLC | SHS | G8994E103 |  | 674094 | 1732 | SH |  | SOLE |  | 1732 | 0 | 0 |
| Tyler Technologies Inc | COM | 902252105 |  | 226975 | 500 | SH |  | SOLE |  | 500 | 0 | 0 |
| Union Pacific Corp | COM | 907818108 |  | 814563 | 3521 | SH |  | SOLE |  | 3521 | 0 | 0 |
| United Parcel Service B | COM | 911312106 |  | 6079498 | 61291 | SH |  | SOLE |  | 61291 | 0 | 0 |
| United Rentals Inc | COM | 911363109 |  | 217824 | 269 | SH |  | SOLE |  | 269 | 0 | 0 |
| Unitedhealth Group Inc | COM | 91324P102 |  | 1038307 | 3145 | SH |  | SOLE |  | 3145 | 0 | 0 |
| US Bancorp | COM | 902973304 |  | 7997723 | 149882 | SH |  | SOLE |  | 149882 | 0 | 0 |
| Vanguard Div Apprciation | DIV APP ETF | 921908844 |  | 1672881 | 7611 | SH |  | SOLE |  | 7611 | 0 | 0 |
| Vanguard Emerging Markets ETF | FTSE EMR MKT ETF | 922042858 |  | 758657 | 14111 | SH |  | SOLE |  | 14111 | 0 | 0 |
| Vanguard FTSE All-World ex-US ETF | ALLWRLD EX US | 922042775 |  | 479624 | 6520 | SH |  | SOLE |  | 6520 | 0 | 0 |
| Vanguard Growth ETF | GROWTH ETF | 922908736 |  | 374291 | 767 | SH |  | SOLE |  | 767 | 0 | 0 |
| Vanguard Information Technology ETF | INF TECH ETF | 92204A702 |  | 436210 | 578 | SH |  | SOLE |  | 578 | 0 | 0 |
| Vanguard Interm-Tm Corp Bd Idx ETF | INT-TERM CORP | 92206C870 |  | 2345595 | 28007 | SH |  | SOLE |  | 28007 | 0 | 0 |
| Vanguard Intl Divdend | INTL DVD ETF | 921946810 |  | 1130195 | 12358 | SH |  | SOLE |  | 12358 | 0 | 0 |
| Vanguard Mid-Cap ETF | MID CAP ETF | 922908629 |  | 1300266 | 4480 | SH |  | SOLE |  | 4480 | 0 | 0 |
| Vanguard MSCI EAFE ETF | VAN FTSE DEV MKT | 921943858 |  | 2468966 | 39522 | SH |  | SOLE |  | 39522 | 0 | 0 |
| Vanguard REIT ETF | REIT ETF | 922908553 |  | 276226 | 3121 | SH |  | SOLE |  | 3121 | 0 | 0 |
| Vanguard S 500 ETF | S 500 ETF SHS | 922908363 |  | 3894903 | 6210 | SH |  | SOLE |  | 6210 | 0 | 0 |
| Vanguard Short-Term Corp Bd Idx ETF | SHRT TRM CORP BD | 92206C409 |  | 1499573 | 18808 | SH |  | SOLE |  | 18808 | 0 | 0 |
| Vanguard Small Cap ETF | SMALL CP ETF | 922908751 |  | 3457935 | 13405 | SH |  | SOLE |  | 13405 | 0 | 0 |
| Vanguard Total Stock Market ETF | TOTAL STK MKT | 922908769 |  | 2274424 | 6783 | SH |  | SOLE |  | 6783 | 0 | 0 |
| Vanguard Value ETF | VALUE ETF | 922908744 |  | 456219 | 2388 | SH |  | SOLE |  | 2388 | 0 | 0 |
| Verizon Communications | COM | 92343V104 |  | 2182587 | 53586 | SH |  | SOLE |  | 53586 | 0 | 0 |
| Visa | COM CL A | 92826C839 |  | 2784733 | 7940 | SH |  | SOLE |  | 7940 | 0 | 0 |
| Wal-Mart Stores | COM | 931142103 |  | 3524638 | 31636 | SH |  | SOLE |  | 31636 | 0 | 0 |
| Walt Disney Co | COM | 254687106 |  | 6545059 | 57528 | SH |  | SOLE |  | 57523 | 0 | 5 |
| Waste Management Inc. | COM | 94106L109 |  | 1616927 | 7359 | SH |  | SOLE |  | 7359 | 0 | 0 |
| Wells Fargo | COM | 949746101 |  | 674363 | 7235 | SH |  | SOLE |  | 7235 | 0 | 0 |
| Williams Companies Inc. | COM | 969457100 |  | 405261 | 6742 | SH |  | SOLE |  | 6742 | 0 | 0 |
| Willis Towers Watson PLC | COM | G96629103 |  | 676587 | 2059 | SH |  | SOLE |  | 2059 | 0 | 0 |
| Wisconsin Energy Group | COM | 92939U106 |  | 279890 | 2654 | SH |  | SOLE |  | 2654 | 0 | 0 |
| WisdomTree MidCap Div | US MIDCAP DIVID | 97717W505 |  | 651075 | 12617 | SH |  | SOLE |  | 12617 | 0 | 0 |
| Workday Inc Class A | CL A | 98138H101 |  | 6276301 | 29222 | SH |  | SOLE |  | 29217 | 0 | 5 |
| Xylem Inc | COM | 98419M100 |  | 649850 | 4772 | SH |  | SOLE |  | 4772 | 0 | 0 |
| Zimmer Biomet Holdings Inc. | COM | 98956P102 |  | 226331 | 2517 | SH |  | SOLE |  | 2517 | 0 | 0 |
| Zoetis Inc | CL A | 98978V103 |  | 685441 | 5447 | SH |  | SOLE |  | 5447 | 0 | 0 |

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