# EDGAR Filing Document

**Accession Number:** 0001710477
**File Stem:** 0001085146-25-003971
**Filing Date:** 2025-7
**Character Count:** 25041
**Document Hash:** bb0c22ea220b77745a26a1a8094a6c68
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-25-003971.hdr.sgml**: 20250718

**ACCESSION NUMBER**: 0001085146-25-003971

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250718

**DATE AS OF CHANGE**: 20250718

**EFFECTIVENESS DATE**: 20250718

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CANTOR FITZGERALD INVESTMENT ADVISORS L.P.
- **CENTRAL INDEX KEY:** 0001710477

**ORGANIZATION NAME:**
- **EIN:** 273047790
- **STATE OF INCORPORATION:** NY

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18098
- **FILM NUMBER:** 251134406

**BUSINESS ADDRESS:**
- **STREET 1:** 110 EAST 59TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 2128294952

**MAIL ADDRESS:**
- **STREET 1:** 110 EAST 59TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CANTOR FITZGERALD INVESTMENT ADVISOR L.P
- **DATE OF NAME CHANGE:** 20220210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CANTOR FITZGERALD INVESTMENT ADVISER L.P.
- **DATE OF NAME CHANGE:** 20170627

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** CANTOR FITZGERALD INVESTMENT ADVISORS L.P.<br>**Address:** 110 EAST 59TH STREET<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-18098

**CRD Number (if applicable):** 000159296

**SEC File Number (if applicable):** 801-72852

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:** Walter Karle<br>**Title:** Chief Compliance Officer<br>**Phone:** 212-915-1722

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

/s/ Walter Karle  New York, NY  07-18-2025<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:** 1

**Form 13F Information Table Entry Total:** 187

**Form 13F Information Table Value Total:** $1414950088

      (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.]

| No.   | Name                    | Form 13F File Number   |
|:---|:---|:---|
|  | CANTOR FITZGERALD L. P. | 028-22122              |

### 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 | BBG001S5T7X2 | 319095 | 2096 | SH |  | SOLE |  | 0 | 0 | 2096 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 798166 | 4300 | SH |  | SOLE |  | 0 | 0 | 4300 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 | BBG001SCTQY4 | 313344 | 2655 | SH |  | SOLE |  | 0 | 0 | 2655 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 295185 | 1675 | SH |  | SOLE |  | 200 | 0 | 1475 |
| ALTSHARES TRUST | MERGER ARBITRAGE | 02210T108 | BBG00S7NVRB4 | 16367492 | 574500 | SH |  | SOLE |  | 0 | 0 | 574500 |
| AMAZON COM INC | COM | 023135106 | BBG001S5PQL7 | 1110216 | 5060 | SH |  | SOLE |  | 500 | 0 | 4560 |
| ANALOG DEVICES INC | COM | 032654105 | BBG001S5ND38 | 1054667 | 4431 | SH |  | SOLE |  | 0 | 0 | 4431 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 7213162 | 35157 | SH |  | SOLE |  | 16278 | 0 | 18879 |
| APPLIED MATLS INC | COM | 038222105 | BBG001S5NMM7 | 617678 | 3374 | SH |  | SOLE |  | 0 | 0 | 3374 |
| AT INC | COM | 00206R102 | BBG001S5VWH2 | 10646920 | 367896 | SH |  | SOLE |  | 267939 | 0 | 99957 |
| ATMOS ENERGY CORP | COM | 049560105 | BBG001S5VG05 | 5130150 | 33289 | SH |  | SOLE |  | 14722 | 0 | 18567 |
| BANK AMERICA CORP | COM | 060505104 | BBG001S5P0Y0 | 4664159 | 98566 | SH |  | SOLE |  | 92449 | 0 | 6117 |
| BANK NEW YORK MELLON CORP | COM | 064058100 | BBG001S5P6Q6 | 5458105 | 59907 | SH |  | SOLE |  | 32510 | 0 | 27397 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | BBG001S902J2 | 2186400 | 3 | SH |  | SOLE |  | 0 | 0 | 3 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 691395 | 1423 | SH |  | SOLE |  | 0 | 0 | 1423 |
| BEST BUY INC | COM | 086516101 | BBG001S5P285 | 13415515 | 199844 | SH |  | SOLE |  | 196634 | 0 | 3210 |
| BLACKSTONE INC | COM | 09260D107 | BBG001S7H949 | 1419365 | 9489 | SH |  | SOLE |  | 0 | 0 | 9489 |
| BOOT BARN HLDGS INC | COM | 099406100 | BBG007D38ZV3 | 370880 | 2440 | SH |  | SOLE |  | 0 | 0 | 2440 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 | BBG001S8N8J6 | 12565361 | 271448 | SH |  | SOLE |  | 239633 | 0 | 31815 |
| BROADCOM INC | COM | 11135F101 | BBG00KHY5SY8 | 5173011 | 18767 | SH |  | SOLE |  | 11142 | 0 | 7625 |
| CAPITAL ONE FINL CORP | COM | 14040H105 | BBG001S65PV8 | 3532455 | 16603 | SH |  | SOLE |  | 15768 | 0 | 835 |
| CATERPILLAR INC | COM | 149123101 | BBG001S5PJ06 | 427031 | 1100 | SH |  | SOLE |  | 0 | 0 | 1100 |
| CHEVRON CORP NEW | COM | 166764100 | BBG001S67ZC5 | 14611279 | 102041 | SH |  | SOLE |  | 81948 | 0 | 20093 |
| CISCO SYS INC | COM | 17275R102 | BBG001S6HC62 | 26654146 | 384176 | SH |  | SOLE |  | 321505 | 0 | 62671 |
| COCA COLA CO | COM | 191216100 | BBG001S5SMQ8 | 216353 | 3058 | SH |  | SOLE |  | 2623 | 0 | 435 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG001S5PXL2 | 12691234 | 355596 | SH |  | SOLE |  | 321624 | 0 | 33972 |
| CONAGRA BRANDS INC | COM | 205887102 | BBG001S5PGY5 | 7186670 | 351083 | SH |  | SOLE |  | 345393 | 0 | 5690 |
| CONOCOPHILLIPS | COM | 20825C104 | BBG001S5TZM2 | 13867774 | 154533 | SH |  | SOLE |  | 130504 | 0 | 24029 |
| CORNING INC | COM | 219350105 | BBG001S5RLH1 | 16152386 | 307138 | SH |  | SOLE |  | 302728 | 0 | 4410 |
| COSTCO WHSL CORP NEW | COM | 22160K105 | BBG001S9KRQ7 | 2116492 | 2138 | SH |  | SOLE |  | 0 | 0 | 2138 |
| CRESCENT ENERGY COMPANY | CL A COM | 44952J104 | BBG013THLJ08 | 125130 | 14550 | SH |  | SOLE |  | 0 | 0 | 14550 |
| CSX CORP | COM | 126408103 | BBG001S5Q7Q3 | 206385 | 6325 | SH |  | SOLE |  | 6100 | 0 | 225 |
| CVS HEALTH CORP | COM | 126650100 | BBG001S5QBD8 | 28263575 | 409735 | SH |  | SOLE |  | 368234 | 0 | 41501 |
| DBX ETF TR | XTRACKERS MSCI | 233051218 | BBG00LTQFLT0 | 431980 | 12826 | SH |  | SOLE |  | 0 | 0 | 12826 |
| DBX ETF TR | XTRACKERS MSCI E | 233051226 | BBG00MQCZH19 | 244098 | 7819 | SH |  | SOLE |  | 0 | 0 | 7819 |
| DBX ETF TR | XTRACKERS SHRT | 233051283 | BBG00JQ1CS66 | 7091703 | 156481 | SH |  | SOLE |  | 0 | 0 | 156481 |
| DBX ETF TR | XTRACKRS S 500 | 233051143 | BBG00PK99PR8 | 1782706 | 32237 | SH |  | SOLE |  | 0 | 0 | 32237 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 | BBG00DW3SZT0 | 1319421 | 10762 | SH |  | SOLE |  | 10612 | 0 | 150 |
| DEVON ENERGY CORP NEW | COM | 25179M103 | BBG001S63VG4 | 8786320 | 276213 | SH |  | SOLE |  | 271006 | 0 | 5207 |
| DIMENSIONAL ETF TRUST | US MKTWIDE VALUE | 25434V724 | BBG0177CTQC7 | 1161432 | 27470 | SH |  | SOLE |  | 0 | 0 | 27470 |
| DOLLAR GEN CORP NEW | COM | 256677105 | BBG001T5BM30 | 11596533 | 101386 | SH |  | SOLE |  | 99856 | 0 | 1530 |
| DOMINION ENERGY INC | COM | 25746U109 | BBG001S5QCP3 | 1948810 | 34480 | SH |  | SOLE |  | 34180 | 0 | 300 |
| DOW INC | COM | 260557103 | BBG00BN96931 | 2676766 | 101086 | SH |  | SOLE |  | 57785 | 0 | 43301 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 | BBG001S5QNR7 | 14143055 | 119856 | SH |  | SOLE |  | 103214 | 0 | 16642 |
| EATON CORP PLC | SHS | G29183103 | BBG001S5QZ45 | 3336072 | 9345 | SH |  | SOLE |  | 8695 | 0 | 650 |
| EMERSON ELEC CO | COM | 291011104 | BBG001S5QVT7 | 22204771 | 166539 | SH |  | SOLE |  | 135919 | 0 | 30620 |
| EXXON MOBIL CORP | COM | 30231G102 | BBG001S69V32 | 18300928 | 169767 | SH |  | SOLE |  | 133974 | 0 | 35793 |
| FEDEX CORP | COM | 31428X106 | BBG001S5R3M5 | 2560647 | 11265 | SH |  | SOLE |  | 10869 | 0 | 396 |
| FIDELITY COVINGTON TRUST | MSCI INFO TECH I | 316092808 | BBG005FHWBL1 | 6824158 | 34602 | SH |  | SOLE |  | 0 | 0 | 34602 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 | BBG001S8SWQ0 | 14813316 | 181960 | SH |  | SOLE |  | 152714 | 0 | 29246 |
| FORD MTR CO | COM | 345370860 | BBG001S5TZ33 | 901342 | 83073 | SH |  | SOLE |  | 79738 | 0 | 3335 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 | BBG001S5R3F3 | 1680809 | 38773 | SH |  | SOLE |  | 37936 | 0 | 837 |
| FTAI AVIATION LTD | SHS | G3730V105 | BBG019M62R54 | 402640 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 | BBG0174VKJB4 | 64785 | 10500 | SH |  | SOLE |  | 0 | 0 | 10500 |
| GE AEROSPACE | COM NEW | 369604301 | BBG001S5PVD5 | 587106 | 2281 | SH |  | SOLE |  | 1965 | 0 | 316 |
| GE VERNOVA INC | COM | 36828A101 | BBG013G17W77 | 301087 | 569 | SH |  | SOLE |  | 490 | 0 | 79 |
| GENUINE PARTS CO | COM | 372460105 | BBG001S5RNH7 | 12531794 | 103304 | SH |  | SOLE |  | 82958 | 0 | 20346 |
| GLOBAL X FDS | 1-3 MONTH T-BILL | 37960A438 | BBG01H2Z08D9 | 829469 | 8260 | SH |  | SOLE |  | 0 | 0 | 8260 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 | BBG001SC07Z6 | 283100 | 400 | SH |  | SOLE |  | 0 | 0 | 400 |
| HANESBRANDS INC | COM | 410345102 | BBG001SMCKB8 | 610346 | 133263 | SH |  | SOLE |  | 0 | 0 | 133263 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 | BBG0078W3NP4 | 14853762 | 726345 | SH |  | SOLE |  | 715580 | 0 | 10765 |
| HOME DEPOT INC | COM | 437076102 | BBG001S5RTW7 | 5845241 | 15943 | SH |  | SOLE |  | 15638 | 0 | 305 |
| HP INC | COM | 40434L105 | BBG001S6W7N7 | 14436989 | 590228 | SH |  | SOLE |  | 505318 | 0 | 84910 |
| INTEL CORP | COM | 458140100 | BBG001S5SF65 | 2534661 | 113155 | SH |  | SOLE |  | 59770 | 0 | 53385 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 | BBG001S5S399 | 11645641 | 39506 | SH |  | SOLE |  | 13746 | 0 | 25760 |
| INTERNATIONAL FLAVORS | COM | 459506101 | BBG001S5S5F7 | 10592386 | 144016 | SH |  | SOLE |  | 142011 | 0 | 2005 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 | BBG001S9GN63 | 44515930 | 80697 | SH |  | SOLE |  | 0 | 0 | 80697 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 | BBG003HC3DG9 | 4167140 | 69418 | SH |  | SOLE |  | 0 | 0 | 69418 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 | BBG001S8MLN3 | 18953018 | 214765 | SH |  | SOLE |  | 0 | 0 | 214765 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 | BBG001SSD812 | 50006135 | 419902 | SH |  | SOLE |  | 0 | 0 | 419902 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 | BBG003H6TRS0 | 807919 | 9678 | SH |  | SOLE |  | 0 | 0 | 9678 |
| ISHARES TR | CORE MSCI INTL | 46435G326 | BBG00G9DM0M7 | 6834557 | 89881 | SH |  | SOLE |  | 0 | 0 | 89881 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 | BBG003H6TMV7 | 562353 | 7274 | SH |  | SOLE |  | 0 | 0 | 7274 |
| ISHARES TR | CORE S MCP ETF | 464287507 | BBG001SFC7V0 | 17000151 | 274108 | SH |  | SOLE |  | 0 | 0 | 274108 |
| ISHARES TR | CORE S SCP ETF | 464287804 | BBG001SFC7W9 | 4733724 | 43313 | SH |  | SOLE |  | 0 | 0 | 43313 |
| ISHARES TR | CORE S TTL STK | 464287150 | BBG001SHTRL5 | 1468425 | 10874 | SH |  | SOLE |  | 0 | 0 | 10874 |
| ISHARES TR | CORE S ETF | 464287200 | BBG001SFB7R6 | 63049599 | 101545 | SH |  | SOLE |  | 0 | 0 | 101545 |
| ISHARES TR | CORE TOTAL USD | 46434V613 | BBG006MJCSW0 | 835184 | 18066 | SH |  | SOLE |  | 0 | 0 | 18066 |
| ISHARES TR | ESG ADVNCD HY BD | 46435G441 | BBG00D331HK0 | 200355 | 4218 | SH |  | SOLE |  | 0 | 0 | 4218 |
| ISHARES TR | ESG AWR MSCI USA | 46435G425 | BBG00FFPFTS4 | 554054 | 4095 | SH |  | SOLE |  | 0 | 0 | 4095 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 | BBG00MC0P0K7 | 2040512 | 42922 | SH |  | SOLE |  | 0 | 0 | 42922 |
| ISHARES TR | ESG AWRE 1 5 YR | 46435G243 | BBG00H4BFM35 | 820970 | 32617 | SH |  | SOLE |  | 0 | 0 | 32617 |
| ISHARES TR | ESG SELECT SCRE | 46436E551 | BBG00XDJF7W4 | 285188 | 6872 | SH |  | SOLE |  | 0 | 0 | 6872 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 | BBG001V1QYX1 | 379487 | 7438 | SH |  | SOLE |  | 0 | 0 | 7438 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 | BBG001ST0ZQ7 | 212190 | 2631 | SH |  | SOLE |  | 0 | 0 | 2631 |
| ISHARES TR | MBS ETF | 464288588 | BBG001SSD8B1 | 1413290 | 15053 | SH |  | SOLE |  | 0 | 0 | 15053 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | BBG001SFC7Y7 | 1230219 | 5701 | SH |  | SOLE |  | 0 | 0 | 5701 |
| ISHARES TR | SELECT DIVID ETF | 464287168 | BBG001SDJVG2 | 338400 | 2548 | SH |  | SOLE |  | 0 | 0 | 2548 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG001S5SHQ9 | 18977118 | 124237 | SH |  | SOLE |  | 107488 | 0 | 16749 |
| JPMORGAN CHASE  CO. | COM | 46625H100 | BBG001S8CRC3 | 26870610 | 92686 | SH |  | SOLE |  | 72357 | 0 | 20329 |
| KELLANOVA | COM | 487836108 | BBG001S5SJL0 | 2972506 | 37376 | SH |  | SOLE |  | 0 | 0 | 37376 |
| KEYCORP | COM | 493267108 | BBG001S5SKV6 | 1946528 | 111741 | SH |  | SOLE |  | 0 | 0 | 111741 |
| KIMBERLY-CLARK CORP | COM | 494368103 | BBG001S5SLZ0 | 14064831 | 109097 | SH |  | SOLE |  | 94260 | 0 | 14837 |
| KOHLS CORP | COM | 500255104 | BBG001S71NV5 | 432014 | 50945 | SH |  | SOLE |  | 27234 | 0 | 23711 |
| LINCOLN NATL CORP IND | COM | 534187109 | BBG001S5STV7 | 2083855 | 60227 | SH |  | SOLE |  | 34783 | 0 | 25444 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG001S7PS57 | 7911415 | 17082 | SH |  | SOLE |  | 13374 | 0 | 3708 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 | BBG001T8LMY9 | 7486216 | 129385 | SH |  | SOLE |  | 127510 | 0 | 1875 |
| M  T BK CORP | COM | 55261F104 | BBG001S7S2B4 | 1707171 | 8800 | SH |  | SOLE |  | 0 | 0 | 8800 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG001SKNNS6 | 1233458 | 2195 | SH |  | SOLE |  | 0 | 0 | 2195 |
| MEDTRONIC PLC | SHS | G5960L103 | BBG001S5T2S9 | 16244547 | 186355 | SH |  | SOLE |  | 160860 | 0 | 25495 |
| MERCK  CO INC | COM | 58933Y105 | BBG001S5TC52 | 11638830 | 147029 | SH |  | SOLE |  | 112836 | 0 | 34193 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 1200134 | 1626 | SH |  | SOLE |  | 0 | 0 | 1626 |
| METLIFE INC | COM | 59156R108 | BBG001S5T3R8 | 11859296 | 147467 | SH |  | SOLE |  | 116358 | 0 | 31109 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 8406348 | 16900 | SH |  | SOLE |  | 10612 | 0 | 6288 |
| MONDELEZ INTL INC | CL A | 609207105 | BBG001SHHZJ3 | 20880514 | 309617 | SH |  | SOLE |  | 276487 | 0 | 33130 |
| NATIONAL FUEL GAS CO | COM | 636180101 | BBG001S5TLR8 | 6140080 | 72483 | SH |  | SOLE |  | 49682 | 0 | 22801 |
| NEW YORK LIFE INVESTMENTS ET | NYLI MERGER ARBI | 45409B800 | BBG001S6VS16 | 2177743 | 61745 | SH |  | SOLE |  | 0 | 0 | 61745 |
| NISOURCE INC | COM | 65473P105 | BBG001S5TMF9 | 13092865 | 324563 | SH |  | SOLE |  | 319748 | 0 | 4815 |
| NORFOLK SOUTHN CORP | COM | 655844108 | BBG001S5TQJ6 | 236772 | 925 | SH |  | SOLE |  | 925 | 0 | 0 |
| NUCOR CORP | COM | 670346105 | BBG001S5TRV0 | 2854886 | 22039 | SH |  | SOLE |  | 9643 | 0 | 12396 |
| NUCOR CORP | COM | 670346105 | BBG001S5TRV0 | 810 | 100 | SH | Call | SOLE |  | 0 | 0 | 100 |
| NUSHARES ETF TR | ESG HI TLD CRP | 67092P854 | BBG00QD6KLQ7 | 203569 | 9377 | SH |  | SOLE |  | 0 | 0 | 9377 |
| NUSHARES ETF TR | NUVEEN ESG US | 67092P870 | BBG00HTVKZ20 | 790052 | 35492 | SH |  | SOLE |  | 0 | 0 | 35492 |
| NUVEEN CALIFORNIA MUNI VLU F | COM STK | 67062C107 | BBG001S5TJV8 | 102181 | 11772 | SH |  | SOLE |  | 0 | 0 | 11772 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 3631084 | 22983 | SH |  | SOLE |  | 0 | 0 | 22983 |
| ORGANON  CO | COMMON STOCK | 68622V106 | BBG00ZQRGW42 | 1155431 | 119363 | SH |  | SOLE |  | 77769 | 0 | 41594 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 | BBG001S6L063 | 871161 | 67532 | SH |  | SOLE |  | 0 | 0 | 67532 |
| PEPSICO INC | COM | 713448108 | BBG001S695T1 | 635376 | 4812 | SH |  | SOLE |  | 4251 | 0 | 561 |
| PFIZER INC | COM | 717081103 | BBG001S5V466 | 12655570 | 522094 | SH |  | SOLE |  | 472608 | 0 | 49486 |
| PHILIP MORRIS INTL INC | COM | 718172109 | BBG001STP9N1 | 16908178 | 92835 | SH |  | SOLE |  | 68791 | 0 | 24044 |
| PPG INDS INC | COM | 693506107 | BBG001S5VC13 | 9312412 | 81867 | SH |  | SOLE |  | 80647 | 0 | 1220 |
| PPL CORP | COM | 69351T106 | BBG001S5VC31 | 2270590 | 66999 | SH |  | SOLE |  | 0 | 0 | 66999 |
| PROCTER AND GAMBLE CO | COM | 742718109 | BBG001S5V4L9 | 1437066 | 9020 | SH |  | SOLE |  | 3550 | 0 | 5470 |
| PRUDENTIAL FINL INC | COM | 744320102 | BBG001S97MM7 | 12307660 | 114554 | SH |  | SOLE |  | 95038 | 0 | 19516 |
| QUALCOMM INC | COM | 747525103 | BBG001S6VS70 | 544669 | 3420 | SH |  | SOLE |  | 0 | 0 | 3420 |
| QUANTA SVCS INC | COM | 74762E102 | BBG001S5VH85 | 2703650 | 7151 | SH |  | SOLE |  | 6735 | 0 | 416 |
| RTX CORPORATION | COM | 75513E101 | BBG001S5X5Q9 | 20266102 | 138790 | SH |  | SOLE |  | 104489 | 0 | 34301 |
| SALESFORCE INC | COM | 79466L302 | BBG001SDLP09 | 384493 | 1410 | SH |  | SOLE |  | 0 | 0 | 1410 |
| SCHLUMBERGER LTD | COM STK | 806857108 | BBG001S5W4C8 | 5365962 | 158756 | SH |  | SOLE |  | 155786 | 0 | 2970 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 | BBG001T9F7C1 | 1124504 | 44926 | SH |  | SOLE |  | 0 | 0 | 44926 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 | BBG001T5XQT9 | 251264 | 10544 | SH |  | SOLE |  | 0 | 0 | 10544 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 | BBG001T5XQV6 | 30146482 | 1233489 | SH |  | SOLE |  | 0 | 0 | 1233489 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 | BBG001V036R6 | 7333526 | 261445 | SH |  | SOLE |  | 0 | 0 | 261445 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 | BBG001T5XQW5 | 1676798 | 66277 | SH |  | SOLE |  | 0 | 0 | 66277 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | BBG001S7T223 | 627235 | 11977 | SH |  | SOLE |  | 0 | 0 | 11977 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6H1 | 20250644 | 287610 | SH |  | SOLE |  | 240803 | 0 | 46807 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 | BBG001S77WM9 | 6355090 | 39532 | SH |  | SOLE |  | 16511 | 0 | 23021 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 | BBG001SCYWS2 | 871511 | 11695 | SH |  | SOLE |  | 0 | 0 | 11695 |
| SMUCKER J M CO | COM NEW | 832696405 | BBG001S5W3H5 | 15952878 | 162453 | SH |  | SOLE |  | 149352 | 0 | 13101 |
| SOUTHERN CO | COM | 842587107 | BBG001S5W777 | 459150 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 | BBG001SCPX28 | 487728 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 | BBG001SRXRJ1 | 372798 | 9207 | SH |  | SOLE |  | 0 | 0 | 9207 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 | BBG001SRXRD7 | 1649927 | 38604 | SH |  | SOLE |  | 0 | 0 | 38604 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 6366582 | 10304 | SH |  | SOLE |  | 0 | 0 | 10304 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 | BBG001STKCW9 | 304358 | 3318 | SH |  | SOLE |  | 0 | 0 | 3318 |
| SPDR SERIES TRUST | BLOOMBERG SHT TE | 78468R408 | BBG002QLYD04 | 10290057 | 403848 | SH |  | SOLE |  | 0 | 0 | 403848 |
| SPDR SERIES TRUST | PORT MTG BK ETF | 78464A383 | BBG001T2HF72 | 5301380 | 239881 | SH |  | SOLE |  | 0 | 0 | 239881 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464A375 | BBG001T2HCY9 | 25963609 | 773187 | SH |  | SOLE |  | 0 | 0 | 773187 |
| SPDR SERIES TRUST | PRTFLO S GW | 78464A409 | BBG001SD7RB9 | 1375177 | 14427 | SH |  | SOLE |  | 0 | 0 | 14427 |
| SPDR SERIES TRUST | PRTFLO S VL | 78464A508 | BBG001SG4284 | 1611659 | 30792 | SH |  | SOLE |  | 0 | 0 | 30792 |
| SPDR SERIES TRUST | S 500 ESG ETF | 78468R531 | BBG00W7DVF50 | 217396 | 3713 | SH |  | SOLE |  | 0 | 0 | 3713 |
| STANLEY BLACK  DECKER INC | COM | 854502101 | BBG001S5WHT1 | 14733224 | 217465 | SH |  | SOLE |  | 197608 | 0 | 19857 |
| STATE STR CORP | COM | 857477103 | BBG001S5RLD5 | 7302532 | 68672 | SH |  | SOLE |  | 67622 | 0 | 1050 |
| SYSCO CORP | COM | 871829107 | BBG001S5WJS8 | 6305734 | 83255 | SH |  | SOLE |  | 81920 | 0 | 1335 |
| TAPESTRY INC | COM | 876030107 | BBG001SFH7D5 | 6498582 | 74007 | SH |  | SOLE |  | 17006 | 0 | 57001 |
| TARGET CORP | COM | 87612E106 | BBG001SC0K41 | 10547747 | 106921 | SH |  | SOLE |  | 97813 | 0 | 9108 |
| TEXAS CAP BANCSHARES INC | COM | 88224Q107 | BBG001SJ1VS5 | 412880 | 5200 | SH |  | SOLE |  | 0 | 0 | 5200 |
| TEXAS INSTRS INC | COM | 882508104 | BBG001S5WYZ7 | 15727382 | 75751 | SH |  | SOLE |  | 74594 | 0 | 1157 |
| TJX COS INC NEW | COM | 872540109 | BBG001S5WQ93 | 1706509 | 13819 | SH |  | SOLE |  | 13197 | 0 | 622 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 | BBG001S5SBV6 | 1747016 | 3994 | SH |  | SOLE |  | 3721 | 0 | 273 |
| TRAVELERS COMPANIES INC | COM | 89417E109 | BBG001S5R103 | 12226227 | 45699 | SH |  | SOLE |  | 44649 | 0 | 1050 |
| TRUIST FINL CORP | COM | 89832Q109 | BBG001S5YYC0 | 18790397 | 437087 | SH |  | SOLE |  | 390768 | 0 | 46319 |
| TYSON FOODS INC | CL A | 902494103 | BBG001S871D5 | 1769362 | 31630 | SH |  | SOLE |  | 0 | 0 | 31630 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 | BBG001SDGSH1 | 16993403 | 168352 | SH |  | SOLE |  | 165917 | 0 | 2435 |
| US BANCORP DEL | COM NEW | 902973304 | BBG001S6T8C1 | 15926430 | 351965 | SH |  | SOLE |  | 297288 | 0 | 54677 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 | BBG001ST39Q2 | 376251 | 4781 | SH |  | SOLE |  | 0 | 0 | 4781 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 | BBG001SK7DK4 | 4099494 | 55677 | SH |  | SOLE |  | 0 | 0 | 55677 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 | BBG001SHTTS4 | 205171 | 468 | SH |  | SOLE |  | 0 | 0 | 468 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 | BBG001SHTTQ6 | 3092863 | 10841 | SH |  | SOLE |  | 0 | 0 | 10841 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 | BBG001SHVTS1 | 1439751 | 5145 | SH |  | SOLE |  | 0 | 0 | 5145 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 | BBG001TC6MC1 | 52114633 | 91746 | SH |  | SOLE |  | 0 | 0 | 91746 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 | BBG001SHTB03 | 4210955 | 13855 | SH |  | SOLE |  | 0 | 0 | 13855 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 | BBG001SP7T00 | 1488654 | 22146 | SH |  | SOLE |  | 0 | 0 | 22146 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 | BBG001SHTTZ6 | 17611355 | 356073 | SH |  | SOLE |  | 0 | 0 | 356073 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 | BBG001T62M92 | 5958958 | 99631 | SH |  | SOLE |  | 0 | 0 | 99631 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 | BBG001T62M38 | 10818592 | 130470 | SH |  | SOLE |  | 0 | 0 | 130470 |
| VANGUARD SCOTTSDALE FDS | LONG TERM TREAS | 92206C847 | BBG001T62MC8 | 3830471 | 68255 | SH |  | SOLE |  | 0 | 0 | 68255 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 | BBG001T62MF5 | 39619103 | 854966 | SH |  | SOLE |  | 0 | 0 | 854966 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 | BBG001T62KZ7 | 459987 | 5786 | SH |  | SOLE |  | 0 | 0 | 5786 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 | BBG001SQX4T3 | 1287374 | 6290 | SH |  | SOLE |  | 0 | 0 | 6290 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 | BBG001SSPWL4 | 37475648 | 657352 | SH |  | SOLE |  | 0 | 0 | 657352 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 | BBG001SHTTR5 | 2294954 | 3460 | SH |  | SOLE |  | 0 | 0 | 3460 |
| VENTAS INC | COM | 92276F100 | BBG001S9T7M6 | 11298749 | 178920 | SH |  | SOLE |  | 144445 | 0 | 34475 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG001S67QY1 | 12767957 | 295076 | SH |  | SOLE |  | 242383 | 0 | 52693 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 1503637 | 4235 | SH |  | SOLE |  | 0 | 0 | 4235 |
| WALMART INC | COM | 931142103 | BBG001S5XH92 | 2686799 | 27478 | SH |  | SOLE |  | 24059 | 0 | 3419 |
| WELLS FARGO CO NEW | COM | 949746101 | BBG001S5XF23 | 25073951 | 312955 | SH |  | SOLE |  | 261311 | 0 | 51644 |

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