# EDGAR Filing Document

**Accession Number:** 0001009209
**File Stem:** 0001580642-23-000794
**Filing Date:** 2023-2
**Character Count:** 19867
**Document Hash:** 11f86d343f9bde34e563fd124d300f0d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-000794.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001580642-23-000794

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Sand Hill Global Advisors, LLC
- **CENTRAL INDEX KEY:** 0001009209
- **IRS NUMBER:** 942800890
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05390
- **FILM NUMBER:** 23608864

**BUSINESS ADDRESS:**
- **STREET 1:** 245 LYTTON AVENUE
- **STREET 2:** SUITE 300
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94301
- **BUSINESS PHONE:** 6508549150

**MAIL ADDRESS:**
- **STREET 1:** 245 LYTTON AVE
- **STREET 2:** SUITE 300
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sand Hill Advisors LLC
- **DATE OF NAME CHANGE:** 20090511

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SAND HILL ADVISORS INC/CA
- **DATE OF NAME CHANGE:** 19990210

### 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:** Sand Hill Global Advisors LLC<br>**Address:** 245 Lytton Ave<br>Suite 300<br>Palo Alto, CA 94301

**Form 13F File Number:** 028-05390

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:** Caroline Curts<br>**Title:** Chief Compliance Officer<br>**Phone:** 650-854-9150

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

/s/ Caroline Curts  Palo Alto, CA  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:** 160

**Form 13F Information Table Value Total:** $1771633571

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 8563461 | 77999 | SH |  | SOLE |  | 76148 | 0 | 1851 |
| ABBVIE INC | COM | 00287Y109 |  | 3020006 | 18687 | SH |  | SOLE |  | 18687 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 2167541 | 8123 | SH |  | SOLE |  | 8123 | 0 | 0 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 7303038 | 21701 | SH |  | SOLE |  | 21043 | 0 | 658 |
| AFLAC INC | COM | 001055102 |  | 581131 | 8078 | SH |  | SOLE |  | 8078 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1517993 | 17108 | SH |  | SOLE |  | 17108 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 12259493 | 138949 | SH |  | SOLE |  | 135676 | 0 | 3273 |
| AMAZON COM INC | COM | 023135106 |  | 9977505 | 118780 | SH |  | SOLE |  | 115924 | 0 | 2856 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 3246908 | 15326 | SH |  | SOLE |  | 15047 | 0 | 279 |
| APPLE INC | COM | 037833100 |  | 20972335 | 161413 | SH |  | SOLE |  | 157660 | 0 | 3753 |
| ARISTA NETWORKS INC | COM | 040413106 |  | 408950 | 3370 | SH |  | SOLE |  | 3370 | 0 | 0 |
| ATRECA INC | CL A COM | 04965G109 |  | 10008 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 535763 | 2243 | SH |  | SOLE |  | 2243 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1276684 | 4133 | SH |  | SOLE |  | 4133 | 0 | 0 |
| BLACKROCK INC | COM | 09247X101 |  | 6997828 | 9875 | SH |  | SOLE |  | 9624 | 0 | 251 |
| BOEING CO | COM | 097023105 |  | 7247764 | 38048 | SH |  | SOLE |  | 37106 | 0 | 942 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 9512122 | 4720 | SH |  | SOLE |  | 4582 | 0 | 138 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 295786 | 4111 | SH |  | SOLE |  | 3411 | 0 | 700 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 3494278 | 23301 | SH |  | SOLE |  | 22518 | 0 | 783 |
| CHEVRON CORP NEW | COM | 166764100 |  | 10861531 | 60513 | SH |  | SOLE |  | 58561 | 0 | 1952 |
| CHUBB LIMITED | COM | H1467J104 |  | 8759475 | 39708 | SH |  | SOLE |  | 38536 | 0 | 1172 |
| CISCO SYS INC | COM | 17275R102 |  | 1096863 | 23024 | SH |  | SOLE |  | 22432 | 0 | 592 |
| CME GROUP INC | COM | 12572Q105 |  | 7566786 | 44998 | SH |  | SOLE |  | 43538 | 0 | 1460 |
| COCA COLA CO | COM | 191216100 |  | 432889 | 6805 | SH |  | SOLE |  | 6005 | 0 | 800 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 203524 | 1725 | SH |  | SOLE |  | 1725 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 3361341 | 14504 | SH |  | SOLE |  | 14235 | 0 | 269 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1889542 | 4139 | SH |  | SOLE |  | 4139 | 0 | 0 |
| COUPA SOFTWARE INC | COM | 22266L106 |  | 619109 | 7820 | SH |  | SOLE |  | 7820 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 6955035 | 74633 | SH |  | SOLE |  | 72007 | 0 | 2626 |
| DANAHER CORPORATION | COM | 235851102 |  | 8170550 | 30783 | SH |  | SOLE |  | 29825 | 0 | 958 |
| DIMENSIONAL ETF TRUST | US EQUITY ETF | 25434V401 |  | 3216786 | 77308 | SH |  | SOLE |  | 77308 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 371411 | 15297 | SH |  | SOLE |  | 15297 | 0 | 0 |
| DIMENSIONAL ETF TRUST | US TARGETED VLU | 25434V609 |  | 442489 | 10068 | SH |  | SOLE |  | 10068 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 5051227 | 58140 | SH |  | SOLE |  | 56673 | 0 | 1467 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 2098090 | 8520 | SH |  | SOLE |  | 8520 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 5756584 | 39548 | SH |  | SOLE |  | 38856 | 0 | 692 |
| EXPENSIFY INC | COM CL A | 30219Q106 |  | 240079 | 27189 | SH |  | SOLE |  | 27189 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 713309 | 6467 | SH |  | SOLE |  | 6231 | 0 | 236 |
| FIRST TR LRGE CP CORE ALPHA | COM SHS | 33734K109 |  | 277282 | 3463 | SH |  | SOLE |  | 3463 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 706075 | 6986 | SH |  | SOLE |  | 6986 | 0 | 0 |
| FIVE9 INC | COM | 338307101 |  | 218781 | 3224 | SH |  | SOLE |  | 3224 | 0 | 0 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 718481 | 54348 | SH |  | SOLE |  | 54348 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 6031441 | 26046 | SH |  | SOLE |  | 25267 | 0 | 779 |
| HOLOGIC INC | COM | 436440101 |  | 205353 | 2745 | SH |  | SOLE |  | 2745 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 2023290 | 6406 | SH |  | SOLE |  | 6406 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 7827338 | 36525 | SH |  | SOLE |  | 35654 | 0 | 871 |
| INTEL CORP | COM | 458140100 |  | 3542338 | 134027 | SH |  | SOLE |  | 130871 | 0 | 3156 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 380121 | 2698 | SH |  | SOLE |  | 2698 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 474459 | 1219 | SH |  | SOLE |  | 1219 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 252019 | 946 | SH |  | SOLE |  | 946 | 0 | 0 |
| ISHARES INC | ESG AWR MSCI EM | 46434G863 |  | 4032095 | 134090 | SH |  | SOLE |  | 133672 | 0 | 418 |
| ISHARES TR | ESG AW MSCI EAFE | 46435G516 |  | 7385446 | 112343 | SH |  | SOLE |  | 112343 | 0 | 0 |
| ISHARES TR | BLACKROCK ULTRA | 46434V878 |  | 20264899 | 404974 | SH |  | SOLE |  | 404974 | 0 | 0 |
| ISHARES TR | MSCI INTL VLU FT | 46435G409 |  | 2932747 | 126575 | SH |  | SOLE |  | 126518 | 0 | 57 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 10942354 | 103699 | SH |  | SOLE |  | 101732 | 0 | 1967 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 1390744 | 16441 | SH |  | SOLE |  | 16441 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 1803360 | 21246 | SH |  | SOLE |  | 21246 | 0 | 0 |
| ISHARES TR | GL CLEAN ENE ETF | 464288224 |  | 3151630 | 158772 | SH |  | SOLE |  | 154827 | 0 | 3945 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 62252059 | 597028 | SH |  | SOLE |  | 581220 | 0 | 15808 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 4620025 | 101539 | SH |  | SOLE |  | 101539 | 0 | 0 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 6313138 | 97440 | SH |  | SOLE |  | 94064 | 0 | 3376 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 887992 | 17824 | SH |  | SOLE |  | 16317 | 0 | 1507 |
| ISHARES TR | MSCI USA ESG SLC | 464288802 |  | 299757 | 3641 | SH |  | SOLE |  | 3641 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 927389 | 5437 | SH |  | SOLE |  | 5437 | 0 | 0 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 44096197 | 454647 | SH |  | SOLE |  | 451099 | 0 | 3548 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 14331268 | 378134 | SH |  | SOLE |  | 376384 | 0 | 1750 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 106977501 | 442257 | SH |  | SOLE |  | 431070 | 0 | 11187 |
| ISHARES TR | CORE S ETF | 464287200 |  | 31057506 | 80835 | SH |  | SOLE |  | 80835 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 3362047 | 15970 | SH |  | SOLE |  | 15834 | 0 | 136 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 688700 | 4541 | SH |  | SOLE |  | 4273 | 0 | 268 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 556596 | 2598 | SH |  | SOLE |  | 2598 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 102410352 | 587350 | SH |  | SOLE |  | 573031 | 0 | 14319 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 223591 | 1612 | SH |  | SOLE |  | 1612 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 2685242 | 12168 | SH |  | SOLE |  | 12168 | 0 | 0 |
| ISHARES TR | CORE S US VLU | 464287663 |  | 103684109 | 1467990 | SH |  | SOLE |  | 1430166 | 0 | 37824 |
| ISHARES TR | U.S. REAL ES ETF | 464287739 |  | 577375 | 6858 | SH |  | SOLE |  | 6334 | 0 | 524 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 1488554 | 6939 | SH |  | SOLE |  | 6776 | 0 | 163 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 175124917 | 2667960 | SH |  | SOLE |  | 2619137 | 0 | 48823 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 4817808 | 48391 | SH |  | SOLE |  | 47125 | 0 | 1266 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 |  | 9060114 | 106904 | SH |  | SOLE |  | 106904 | 0 | 0 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 9301492 | 282892 | SH |  | SOLE |  | 278041 | 0 | 4851 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 646648 | 13835 | SH |  | SOLE |  | 13835 | 0 | 0 |
| ISHARES U S ETF TR | BLACKROCK ST MAT | 46431W507 |  | 12416336 | 252006 | SH |  | SOLE |  | 252006 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 15657855 | 312345 | SH |  | SOLE |  | 312345 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 245183 | 2042 | SH |  | SOLE |  | 2042 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 10000379 | 56611 | SH |  | SOLE |  | 55283 | 0 | 1328 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 12576206 | 93782 | SH |  | SOLE |  | 91359 | 0 | 2423 |
| KEYSIGHT TECHNOLOGIES INC | COM | 49338L103 |  | 4577320 | 26757 | SH |  | SOLE |  | 26081 | 0 | 676 |
| LINDE PLC | SHS | G5494J103 |  | 289974 | 889 | SH |  | SOLE |  | 889 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 343291 | 1723 | SH |  | SOLE |  | 1723 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 496317 | 1427 | SH |  | SOLE |  | 1427 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 602622 | 2287 | SH |  | SOLE |  | 2287 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 432372 | 3897 | SH |  | SOLE |  | 3897 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3192741 | 26531 | SH |  | SOLE |  | 26148 | 0 | 383 |
| MICROSOFT CORP | COM | 594918104 |  | 15803430 | 65897 | SH |  | SOLE |  | 63393 | 0 | 2504 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 6961426 | 104447 | SH |  | SOLE |  | 100578 | 0 | 3869 |
| NIKE INC | CL B | 654106103 |  | 207876 | 1777 | SH |  | SOLE |  | 1777 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG SMLCP | 67092P607 |  | 1406712 | 41156 | SH |  | SOLE |  | 41156 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG INTL | 67092P805 |  | 419405 | 16256 | SH |  | SOLE |  | 16256 | 0 | 0 |
| NUSHARES ETF TR | NUVEEN ESG LRGVL | 67092P300 |  | 6392642 | 186701 | SH |  | SOLE |  | 183218 | 0 | 3483 |
| NUSHARES ETF TR | NUVEEN ESG EMRGN | 67092P888 |  | 386917 | 15209 | SH |  | SOLE |  | 15209 | 0 | 0 |
| NUVEEN PFD  INCOME OPPORTUN | COM | 67073B106 |  | 123687 | 16990 | SH |  | SOLE |  | 11627 | 0 | 5363 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 6938614 | 47479 | SH |  | SOLE |  | 46386 | 0 | 1093 |
| ORACLE CORP | COM | 68389X105 |  | 541987 | 6631 | SH |  | SOLE |  | 6631 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 68360 | 10648 | SH |  | SOLE |  | 10648 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 7619108 | 26183 | SH |  | SOLE |  | 25414 | 0 | 769 |
| PEPSICO INC | COM | 713448108 |  | 585880 | 3243 | SH |  | SOLE |  | 3243 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 417042 | 8139 | SH |  | SOLE |  | 6139 | 0 | 2000 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 1980879 | 21893 | SH |  | SOLE |  | 21102 | 0 | 791 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 2249262 | 43777 | SH |  | SOLE |  | 39781 | 0 | 3996 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 8366009 | 55199 | SH |  | SOLE |  | 53489 | 0 | 1710 |
| PROGRESSIVE CORP | COM | 743315103 |  | 1016537 | 7837 | SH |  | SOLE |  | 7837 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 447681 | 4436 | SH |  | SOLE |  | 4436 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 220863 | 3482 | SH |  | SOLE |  | 3482 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 800325 | 98320 | SH |  | SOLE |  | 98320 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 5489226 | 41400 | SH |  | SOLE |  | 40407 | 0 | 993 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 483907 | 5812 | SH |  | SOLE |  | 5812 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL SCEQT ETF | 808524888 |  | 691522 | 21974 | SH |  | SOLE |  | 21974 | 0 | 0 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 731356 | 30898 | SH |  | SOLE |  | 30898 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 2069686 | 64256 | SH |  | SOLE |  | 64256 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 2528129 | 55994 | SH |  | SOLE |  | 55994 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 1083713 | 8709 | SH |  | SOLE |  | 8709 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 2021314 | 14879 | SH |  | SOLE |  | 14879 | 0 | 0 |
| SHOPIFY INC | CL A | 82509L107 |  | 225615 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| SOUNDHOUND AI INC | CLASS A COM | 836100107 |  | 130228 | 73575 | SH |  | SOLE |  | 73575 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 513161 | 3025 | SH |  | SOLE |  | 2582 | 0 | 443 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 244751978 | 639992 | SH |  | SOLE |  | 621787 | 0 | 18204 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 5264101 | 11888 | SH |  | SOLE |  | 11739 | 0 | 149 |
| SPDR SER TR | S 600 SML CAP | 78464A813 |  | 495809 | 6031 | SH |  | SOLE |  | 6031 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 357740 | 3606 | SH |  | SOLE |  | 3606 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 6445682 | 26364 | SH |  | SOLE |  | 25678 | 0 | 686 |
| SYSCO CORP | COM | 871829107 |  | 4121440 | 53910 | SH |  | SOLE |  | 52834 | 0 | 1076 |
| TESLA INC | COM | 88160R101 |  | 2527284 | 20517 | SH |  | SOLE |  | 20175 | 0 | 342 |
| TEXAS INSTRS INC | COM | 882508104 |  | 256421 | 1552 | SH |  | SOLE |  | 1552 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 8560333 | 107542 | SH |  | SOLE |  | 104759 | 0 | 2783 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 303264 | 12263 | SH |  | SOLE |  | 12263 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 579330 | 2798 | SH |  | SOLE |  | 2798 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 7209219 | 41470 | SH |  | SOLE |  | 40223 | 0 | 1247 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1606939 | 3031 | SH |  | SOLE |  | 3031 | 0 | 0 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 28666196 | 385713 | SH |  | SOLE |  | 382080 | 0 | 3633 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 642798 | 3690 | SH |  | SOLE |  | 3690 | 0 | 0 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 6525214 | 35552 | SH |  | SOLE |  | 35552 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 1665455 | 7815 | SH |  | SOLE |  | 7815 | 0 | 0 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 9266352 | 46207 | SH |  | SOLE |  | 45698 | 0 | 509 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 3257567 | 23207 | SH |  | SOLE |  | 22698 | 0 | 509 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 6558810 | 32181 | SH |  | SOLE |  | 32181 | 0 | 0 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 37937784 | 459963 | SH |  | SOLE |  | 449279 | 0 | 10684 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 126169811 | 359110 | SH |  | SOLE |  | 356973 | 0 | 2137 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 4252107 | 22240 | SH |  | SOLE |  | 22240 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 90804315 | 2329510 | SH |  | SOLE |  | 2272715 | 0 | 56795 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 995957 | 19864 | SH |  | SOLE |  | 19864 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LONG TERM TREAS | 92206C847 |  | 45182928 | 733251 | SH |  | SOLE |  | 718378 | 0 | 14873 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 14781641 | 255649 | SH |  | SOLE |  | 250599 | 0 | 5050 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1076226 | 7087 | SH |  | SOLE |  | 7087 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 14873726 | 354389 | SH |  | SOLE |  | 305994 | 0 | 48395 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 248816 | 6315 | SH |  | SOLE |  | 5469 | 0 | 846 |
| VISA INC | COM CL A | 92826C839 |  | 13811210 | 66477 | SH |  | SOLE |  | 64735 | 0 | 1742 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 11228593 | 71574 | SH |  | SOLE |  | 69492 | 0 | 2082 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 277386 | 6718 | SH |  | SOLE |  | 6718 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 3032200 | 20691 | SH |  | SOLE |  | 20254 | 0 | 437 |

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