# EDGAR Filing Document

**Accession Number:** 0001806473
**File Stem:** 0001172661-23-000397
**Filing Date:** 2023-2
**Character Count:** 22473
**Document Hash:** 7022a4188f19030fc0c32af8569bdc8f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-23-000397.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001172661-23-000397

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230201

**EFFECTIVENESS DATE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TFG Advisers LLC
- **CENTRAL INDEX KEY:** 0001806473
- **IRS NUMBER:** 821215710
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20204
- **FILM NUMBER:** 23576621

**BUSINESS ADDRESS:**
- **STREET 1:** 3121 UNIVERSITY DRIVE
- **STREET 2:** SUITE 100
- **CITY:** AUBURN HILLS
- **STATE:** MI
- **ZIP:** 48326
- **BUSINESS PHONE:** 248-724-0090

**MAIL ADDRESS:**
- **STREET 1:** 3121 UNIVERSITY DRIVE
- **STREET 2:** SUITE 100
- **CITY:** AUBURN HILLS
- **STATE:** MI
- **ZIP:** 48326

### 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:** TFG Advisers LLC<br>**Address:** 3121 University Drive<br>Suite 100<br>Auburn Hills, MI 48326

**Form 13F File Number:** 028-20204

**CRD Number (if applicable):** 000288787

**SEC File Number (if applicable):** 801-111790

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:** Timothy P. Atkinson<br>**Title:** Chief Compliance Officer<br>**Phone:** 248-724-0090

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

/s/ Timothy P. Atkinson  Auburn Hills, MI  02-01-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 193

**Form 13F Information Table Value Total:** $194990223

      (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 |  | 636511 | 5798 | SH |  | SOLE |  | 0 | 0 | 5798 |
| ABBVIE INC | COM | 00287Y109 |  | 2866447 | 17737 | SH |  | SOLE |  | 0 | 0 | 17737 |
| ABRDN ASIA PACIFIC INCOME FU | COM | 003009107 |  | 31861 | 12114 | SH |  | SOLE |  | 0 | 0 | 12114 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 506079 | 1897 | SH |  | SOLE |  | 0 | 0 | 1897 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 437489 | 1419 | SH |  | SOLE |  | 0 | 0 | 1419 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1691701 | 19174 | SH |  | SOLE |  | 0 | 0 | 19174 |
| AMAZON COM INC | COM | 023135106 |  | 3048706 | 36294 | SH |  | SOLE |  | 0 | 0 | 36294 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 2151103 | 22655 | SH |  | SOLE |  | 0 | 0 | 22655 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 3637927 | 17171 | SH |  | SOLE |  | 0 | 0 | 17171 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 1196645 | 7851 | SH |  | SOLE |  | 0 | 0 | 7851 |
| AMGEN INC | COM | 031162100 |  | 208159 | 796 | SH |  | SOLE |  | 0 | 0 | 796 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 283680 | 3726 | SH |  | SOLE |  | 0 | 0 | 3726 |
| APPLE INC | COM | 037833100 |  | 10523666 | 80995 | SH |  | SOLE |  | 0 | 0 | 80995 |
| AT INC | COM | 00206R102 |  | 253686 | 13780 | SH |  | SOLE |  | 0 | 0 | 13780 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 6470789 | 27090 | SH |  | SOLE |  | 0 | 0 | 27090 |
| BLACKROCK INC | COM | 09247X101 |  | 508151 | 717 | SH |  | SOLE |  | 0 | 0 | 717 |
| BOEING CO | COM | 097023105 |  | 1012487 | 5315 | SH |  | SOLE |  | 0 | 0 | 5315 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 241762 | 3360 | SH |  | SOLE |  | 0 | 0 | 3360 |
| CALAMOS CONV  HIGH INCOME F | COM SHS | 12811P108 |  | 178892 | 16957 | SH |  | SOLE |  | 0 | 0 | 16957 |
| CALAMOS CONV OPPORTUNITIES | SH BEN INT | 128117108 |  | 273696 | 26042 | SH |  | SOLE |  | 0 | 0 | 26042 |
| CALAMOS STRATEGIC TOTAL RETU | COM SH BEN INT | 128125101 |  | 239882 | 17875 | SH |  | SOLE |  | 0 | 0 | 17875 |
| CAMBRIA ETF TR | SHSHLD YIELD ETF | 132061201 |  | 380153 | 6410 | SH |  | SOLE |  | 0 | 0 | 6410 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 514580 | 4329 | SH |  | SOLE |  | 0 | 0 | 4329 |
| CARLISLE COS INC | COM | 142339100 |  | 258037 | 1095 | SH |  | SOLE |  | 0 | 0 | 1095 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 267891 | 6494 | SH |  | SOLE |  | 0 | 0 | 6494 |
| CATERPILLAR INC | COM | 149123101 |  | 334427 | 1396 | SH |  | SOLE |  | 0 | 0 | 1396 |
| CHEVRON CORP NEW | COM | 166764100 |  | 3149883 | 17549 | SH |  | SOLE |  | 0 | 0 | 17549 |
| CHUBB LIMITED | COM | H1467J104 |  | 1110051 | 5032 | SH |  | SOLE |  | 0 | 0 | 5032 |
| CISCO SYS INC | COM | 17275R102 |  | 979239 | 20555 | SH |  | SOLE |  | 0 | 0 | 20555 |
| COCA COLA CO | COM | 191216100 |  | 1449624 | 22789 | SH |  | SOLE |  | 0 | 0 | 22789 |
| COHEN  STEERS REIT  PFD | COM | 19247X100 |  | 455886 | 22369 | SH |  | SOLE |  | 0 | 0 | 22369 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 498433 | 6326 | SH |  | SOLE |  | 0 | 0 | 6326 |
| COLUMBIA SPORTSWEAR CO | COM | 198516106 |  | 332421 | 3796 | SH |  | SOLE |  | 0 | 0 | 3796 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 370806 | 3891 | SH |  | SOLE |  | 0 | 0 | 3891 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 4004470 | 8772 | SH |  | SOLE |  | 0 | 0 | 8772 |
| CSX CORP | COM | 126408103 |  | 231081 | 7459 | SH |  | SOLE |  | 0 | 0 | 7459 |
| CUMMINS INC | COM | 231021106 |  | 1209253 | 4991 | SH |  | SOLE |  | 0 | 0 | 4991 |
| CVS HEALTH CORP | COM | 126650100 |  | 387551 | 4159 | SH |  | SOLE |  | 0 | 0 | 4159 |
| DEERE  CO | COM | 244199105 |  | 200380 | 467 | SH |  | SOLE |  | 0 | 0 | 467 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 372808 | 2092 | SH |  | SOLE |  | 0 | 0 | 2092 |
| DISNEY WALT CO | COM | 254687106 |  | 678933 | 7815 | SH |  | SOLE |  | 0 | 0 | 7815 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 995728 | 16238 | SH |  | SOLE |  | 0 | 0 | 16238 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 767407 | 2215 | SH |  | SOLE |  | 0 | 0 | 2215 |
| DONALDSON INC | COM | 257651109 |  | 377979 | 6421 | SH |  | SOLE |  | 0 | 0 | 6421 |
| DOUBLELINE INCOME SOLUTIONS | COM | 258622109 |  | 119569 | 10782 | SH |  | SOLE |  | 0 | 0 | 10782 |
| DT MIDSTREAM INC | COMMON STOCK | 23345M107 |  | 271722 | 4917 | SH |  | SOLE |  | 0 | 0 | 4917 |
| DTE ENERGY CO | COM | 233331107 |  | 738253 | 6281 | SH |  | SOLE |  | 0 | 0 | 6281 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 261175 | 2536 | SH |  | SOLE |  | 0 | 0 | 2536 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 676855 | 9862 | SH |  | SOLE |  | 0 | 0 | 9862 |
| EMERSON ELEC CO | COM | 291011104 |  | 202348 | 2106 | SH |  | SOLE |  | 0 | 0 | 2106 |
| EOG RES INC | COM | 26875P101 |  | 213938 | 1652 | SH |  | SOLE |  | 0 | 0 | 1652 |
| ESSENTIAL UTILS INC | COM | 29670G102 |  | 2129021 | 44606 | SH |  | SOLE |  | 0 | 0 | 44606 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1706149 | 15468 | SH |  | SOLE |  | 0 | 0 | 15468 |
| FASTENAL CO | COM | 311900104 |  | 406533 | 8591 | SH |  | SOLE |  | 0 | 0 | 8591 |
| FEDEX CORP | COM | 31428X106 |  | 754919 | 4359 | SH |  | SOLE |  | 0 | 0 | 4359 |
| FIRST TR EXCHANGE TRADED FD | DJ GLBL DIVID | 33734X200 |  | 263629 | 11994 | SH |  | SOLE |  | 0 | 0 | 11994 |
| FIRST TR EXCHANGE TRADED FD | TECH ALPHADEX | 33734X176 |  | 736456 | 8044 | SH |  | SOLE |  | 0 | 0 | 8044 |
| FIRST TR EXCHANGE TRADED FD | FINLS ALPHADEX | 33734X135 |  | 235729 | 5755 | SH |  | SOLE |  | 0 | 0 | 5755 |
| FIRST TR EXCHANGE TRADED FD | HLTH CARE ALPH | 33734X143 |  | 257856 | 2372 | SH |  | SOLE |  | 0 | 0 | 2372 |
| FIRST TR EXCHANGE-TRADED FD | FST LOW OPPT EFT | 33739Q200 |  | 275536 | 5812 | SH |  | SOLE |  | 0 | 0 | 5812 |
| FIRST TR EXCHANGE-TRADED FD | NASD TECH DIV | 33738R118 |  | 558127 | 11681 | SH |  | SOLE |  | 0 | 0 | 11681 |
| FIRST TR EXCHANGE-TRADED FD | DJ INTERNT IDX | 33733E302 |  | 288787 | 2345 | SH |  | SOLE |  | 0 | 0 | 2345 |
| FIRST TR EXCHANGE-TRADED FD | NY ARCA BIOTECH | 33733E203 |  | 480184 | 3115 | SH |  | SOLE |  | 0 | 0 | 3115 |
| FIRST TR NASDAQ 100 TECH IND | SHS | 337345102 |  | 851524 | 8091 | SH |  | SOLE |  | 0 | 0 | 8091 |
| FIRST TR SML CP CORE ALPHA F | COM SHS | 33734Y109 |  | 394468 | 5028 | SH |  | SOLE |  | 0 | 0 | 5028 |
| FIRST TR SR FLTG RATE INCOME | COM | 33733U108 |  | 1815101 | 190462 | SH |  | SOLE |  | 0 | 0 | 190462 |
| FIRST TR VALUE LINE DIVID IN | SHS | 33734H106 |  | 2365638 | 59274 | SH |  | SOLE |  | 0 | 0 | 59274 |
| FORD MTR CO DEL | COM | 345370860 |  | 266068 | 22878 | SH |  | SOLE |  | 0 | 0 | 22878 |
| FORMULA SYSTEMS 1985 LTD | SPONSORED ADS | 346414105 |  | 487593 | 6878 | SH |  | SOLE |  | 0 | 0 | 6878 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 704072 | 18528 | SH |  | SOLE |  | 0 | 0 | 18528 |
| GENERAL MLS INC | COM | 370334104 |  | 1029264 | 12275 | SH |  | SOLE |  | 0 | 0 | 12275 |
| GENUINE PARTS CO | COM | 372460105 |  | 382218 | 2203 | SH |  | SOLE |  | 0 | 0 | 2203 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 370523 | 4316 | SH |  | SOLE |  | 0 | 0 | 4316 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 659984 | 1922 | SH |  | SOLE |  | 0 | 0 | 1922 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 282355 | 2235 | SH |  | SOLE |  | 0 | 0 | 2235 |
| HOME DEPOT INC | COM | 437076102 |  | 2406017 | 7617 | SH |  | SOLE |  | 0 | 0 | 7617 |
| HONEYWELL INTL INC | COM | 438516106 |  | 1160983 | 5418 | SH |  | SOLE |  | 0 | 0 | 5418 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 2015152 | 9147 | SH |  | SOLE |  | 0 | 0 | 9147 |
| INTEL CORP | COM | 458140100 |  | 364307 | 13784 | SH |  | SOLE |  | 0 | 0 | 13784 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 682267 | 4843 | SH |  | SOLE |  | 0 | 0 | 4843 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 895056 | 14007 | SH |  | SOLE |  | 0 | 0 | 14007 |
| INVESCO EXCH TRADED FD TR II | CEF INM COMPSI | 46138E404 |  | 304313 | 16794 | SH |  | SOLE |  | 0 | 0 | 16794 |
| INVESCO EXCHANGE TRADED FD T | INTL DIVI ACHI | 46137V548 |  | 1187034 | 70995 | SH |  | SOLE |  | 0 | 0 | 70995 |
| INVESCO EXCHANGE TRADED FD T | S EQL STP | 46137V373 |  | 806981 | 4733 | SH |  | SOLE |  | 0 | 0 | 4733 |
| INVESCO EXCHANGE TRADED FD T | S EQL HLT | 46137V332 |  | 264460 | 917 | SH |  | SOLE |  | 0 | 0 | 917 |
| IRON MTN INC DEL | COM | 46284V101 |  | 703360 | 14110 | SH |  | SOLE |  | 0 | 0 | 14110 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 292112 | 2773 | SH |  | SOLE |  | 0 | 0 | 2773 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 278667 | 2909 | SH |  | SOLE |  | 0 | 0 | 2909 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 220310 | 3266 | SH |  | SOLE |  | 0 | 0 | 3266 |
| ISHARES TR | INTL SEL DIV ETF | 464288448 |  | 258081 | 9502 | SH |  | SOLE |  | 0 | 0 | 9502 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 286286 | 2492 | SH |  | SOLE |  | 0 | 0 | 2492 |
| ISHARES TR | S 100 ETF | 464287101 |  | 1593307 | 9341 | SH |  | SOLE |  | 0 | 0 | 9341 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 211291 | 985 | SH |  | SOLE |  | 0 | 0 | 985 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 821114 | 3395 | SH |  | SOLE |  | 0 | 0 | 3395 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1512961 | 15986 | SH |  | SOLE |  | 0 | 0 | 15986 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 629822 | 5974 | SH |  | SOLE |  | 0 | 0 | 5974 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 392705 | 2252 | SH |  | SOLE |  | 0 | 0 | 2252 |
| ISHARES TR | U.S. TECH ETF | 464287721 |  | 305614 | 4103 | SH |  | SOLE |  | 0 | 0 | 4103 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 597764 | 9107 | SH |  | SOLE |  | 0 | 0 | 9107 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 245900 | 2310 | SH |  | SOLE |  | 0 | 0 | 2310 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 2025972 | 66360 | SH |  | SOLE |  | 0 | 0 | 66360 |
| ISHARES TR | CORE S ETF | 464287200 |  | 230888 | 601 | SH |  | SOLE |  | 0 | 0 | 601 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 3129426 | 17715 | SH |  | SOLE |  | 0 | 0 | 17715 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 4548624 | 33920 | SH |  | SOLE |  | 0 | 0 | 33920 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 679372 | 37576 | SH |  | SOLE |  | 0 | 0 | 37576 |
| KLA CORP | COM NEW | 482480100 |  | 552104 | 1464 | SH |  | SOLE |  | 0 | 0 | 1464 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 1258055 | 6042 | SH |  | SOLE |  | 0 | 0 | 6042 |
| LILLY ELI  CO | COM | 532457108 |  | 1119113 | 3059 | SH |  | SOLE |  | 0 | 0 | 3059 |
| LINDE PLC | SHS | G5494J103 |  | 859366 | 2635 | SH |  | SOLE |  | 0 | 0 | 2635 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 1360541 | 2797 | SH |  | SOLE |  | 0 | 0 | 2797 |
| LOWES COS INC | COM | 548661107 |  | 281119 | 1411 | SH |  | SOLE |  | 0 | 0 | 1411 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 476085 | 1486 | SH |  | SOLE |  | 0 | 0 | 1486 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 557529 | 3745 | SH |  | SOLE |  | 0 | 0 | 3745 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 675433 | 1942 | SH |  | SOLE |  | 0 | 0 | 1942 |
| MCDONALDS CORP | COM | 580135101 |  | 1397409 | 5303 | SH |  | SOLE |  | 0 | 0 | 5303 |
| MERCK  CO INC | COM | 58933Y105 |  | 327412 | 2951 | SH |  | SOLE |  | 0 | 0 | 2951 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 1796830 | 25578 | SH |  | SOLE |  | 0 | 0 | 25578 |
| MICROSOFT CORP | COM | 594918104 |  | 7600288 | 31692 | SH |  | SOLE |  | 0 | 0 | 31692 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 668041 | 10023 | SH |  | SOLE |  | 0 | 0 | 10023 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 3403275 | 40709 | SH |  | SOLE |  | 0 | 0 | 40709 |
| NIKE INC | CL B | 654106103 |  | 1144936 | 9785 | SH |  | SOLE |  | 0 | 0 | 9785 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 1679940 | 6817 | SH |  | SOLE |  | 0 | 0 | 6817 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 260210 | 477 | SH |  | SOLE |  | 0 | 0 | 477 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1079992 | 7390 | SH |  | SOLE |  | 0 | 0 | 7390 |
| OMNICOM GROUP INC | COM | 681919106 |  | 210508 | 2581 | SH |  | SOLE |  | 0 | 0 | 2581 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 333222 | 2388 | SH |  | SOLE |  | 0 | 0 | 2388 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 614186 | 2111 | SH |  | SOLE |  | 0 | 0 | 2111 |
| PAYCHEX INC | COM | 704326107 |  | 466682 | 4038 | SH |  | SOLE |  | 0 | 0 | 4038 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 293783 | 4125 | SH |  | SOLE |  | 0 | 0 | 4125 |
| PEPSICO INC | COM | 713448108 |  | 3098279 | 17150 | SH |  | SOLE |  | 0 | 0 | 17150 |
| PFIZER INC | COM | 717081103 |  | 274723 | 5361 | SH |  | SOLE |  | 0 | 0 | 5361 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 331272 | 3273 | SH |  | SOLE |  | 0 | 0 | 3273 |
| PIMCO CORPORATE  INCOME OPP | COM | 72201B101 |  | 155940 | 12984 | SH |  | SOLE |  | 0 | 0 | 12984 |
| PIMCO ETF TR | 0-5 HIGH YIELD | 72201R783 |  | 326041 | 3653 | SH |  | SOLE |  | 0 | 0 | 3653 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 379174 | 3844 | SH |  | SOLE |  | 0 | 0 | 3844 |
| PPG INDS INC | COM | 693506107 |  | 668378 | 5316 | SH |  | SOLE |  | 0 | 0 | 5316 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 298273 | 2735 | SH |  | SOLE |  | 0 | 0 | 2735 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 3162608 | 20867 | SH |  | SOLE |  | 0 | 0 | 20867 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 1186364 | 11928 | SH |  | SOLE |  | 0 | 0 | 11928 |
| PUBLIC STORAGE | COM | 74460D109 |  | 602659 | 2151 | SH |  | SOLE |  | 0 | 0 | 2151 |
| QUALCOMM INC | COM | 747525103 |  | 1201730 | 10931 | SH |  | SOLE |  | 0 | 0 | 10931 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 485694 | 4813 | SH |  | SOLE |  | 0 | 0 | 4813 |
| REALTY INCOME CORP | COM | 756109104 |  | 823628 | 12985 | SH |  | SOLE |  | 0 | 0 | 12985 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 239660 | 1858 | SH |  | SOLE |  | 0 | 0 | 1858 |
| SALESFORCE INC | COM | 79466L302 |  | 365816 | 2759 | SH |  | SOLE |  | 0 | 0 | 2759 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 1133119 | 12434 | SH |  | SOLE |  | 0 | 0 | 12434 |
| SOUTHERN CO | COM | 842587107 |  | 1889857 | 26465 | SH |  | SOLE |  | 0 | 0 | 26465 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 235291 | 1387 | SH |  | SOLE |  | 0 | 0 | 1387 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 323065 | 9802 | SH |  | SOLE |  | 0 | 0 | 9802 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 532281 | 1392 | SH |  | SOLE |  | 0 | 0 | 1392 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 302573 | 683 | SH |  | SOLE |  | 0 | 0 | 683 |
| SPDR SER TR | S 600 SML CAP | 78464A813 |  | 1773615 | 21574 | SH |  | SOLE |  | 0 | 0 | 21574 |
| SPDR SER TR | PORTFOLIO S | 78464A847 |  | 209093 | 4920 | SH |  | SOLE |  | 0 | 0 | 4920 |
| SPDR SER TR | BBG CONV SEC ETF | 78464A359 |  | 3239073 | 50343 | SH |  | SOLE |  | 0 | 0 | 50343 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 1219417 | 9747 | SH |  | SOLE |  | 0 | 0 | 9747 |
| SPDR SER TR | PORTFOLIO S | 78464A854 |  | 383644 | 8529 | SH |  | SOLE |  | 0 | 0 | 8529 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 1331596 | 32557 | SH |  | SOLE |  | 0 | 0 | 32557 |
| STARBUCKS CORP | COM | 855244109 |  | 648701 | 6539 | SH |  | SOLE |  | 0 | 0 | 6539 |
| STEPAN CO | COM | 858586100 |  | 326987 | 3071 | SH |  | SOLE |  | 0 | 0 | 3071 |
| STRYKER CORPORATION | COM | 863667101 |  | 3042730 | 12445 | SH |  | SOLE |  | 0 | 0 | 12445 |
| TARGA RES CORP | COM | 87612G101 |  | 614991 | 8367 | SH |  | SOLE |  | 0 | 0 | 8367 |
| TARGET CORP | COM | 87612E106 |  | 271559 | 1822 | SH |  | SOLE |  | 0 | 0 | 1822 |
| TOPBUILD CORP | COM | 89055F103 |  | 293888 | 1878 | SH |  | SOLE |  | 0 | 0 | 1878 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 524685 | 8102 | SH |  | SOLE |  | 0 | 0 | 8102 |
| UNION PAC CORP | COM | 907818108 |  | 3382728 | 16336 | SH |  | SOLE |  | 0 | 0 | 16336 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 1275457 | 7337 | SH |  | SOLE |  | 0 | 0 | 7337 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 4124109 | 7779 | SH |  | SOLE |  | 0 | 0 | 7779 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 322441 | 2542 | SH |  | SOLE |  | 0 | 0 | 2542 |
| VANECK ETF TRUST | FALLEN ANGEL HG | 92189F437 |  | 872730 | 32299 | SH |  | SOLE |  | 0 | 0 | 32299 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 272094 | 3614 | SH |  | SOLE |  | 0 | 0 | 3614 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 340665 | 7182 | SH |  | SOLE |  | 0 | 0 | 7182 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 303338 | 1587 | SH |  | SOLE |  | 0 | 0 | 1587 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 269255 | 1696 | SH |  | SOLE |  | 0 | 0 | 1696 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1041669 | 5675 | SH |  | SOLE |  | 0 | 0 | 5675 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 913925 | 4484 | SH |  | SOLE |  | 0 | 0 | 4484 |
| VANGUARD INDEX FDS | SML CP GRW ETF | 922908595 |  | 264713 | 1320 | SH |  | SOLE |  | 0 | 0 | 1320 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 393686 | 1847 | SH |  | SOLE |  | 0 | 0 | 1847 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 603955 | 15494 | SH |  | SOLE |  | 0 | 0 | 15494 |
| VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 |  | 227152 | 4990 | SH |  | SOLE |  | 0 | 0 | 4990 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1465499 | 9651 | SH |  | SOLE |  | 0 | 0 | 9651 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 643583 | 5948 | SH |  | SOLE |  | 0 | 0 | 5948 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 678004 | 17208 | SH |  | SOLE |  | 0 | 0 | 17208 |
| VISA INC | COM CL A | 92826C839 |  | 2411588 | 11608 | SH |  | SOLE |  | 0 | 0 | 11608 |
| VULCAN MATLS CO | COM | 929160109 |  | 353738 | 2020 | SH |  | SOLE |  | 0 | 0 | 2020 |
| WALMART INC | COM | 931142103 |  | 380787 | 2686 | SH |  | SOLE |  | 0 | 0 | 2686 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 254617 | 2216 | SH |  | SOLE |  | 0 | 0 | 2216 |
| WISDOMTREE TR | US MIDCAP DIVID | 97717W505 |  | 2692510 | 65447 | SH |  | SOLE |  | 0 | 0 | 65447 |
| WISDOMTREE TR | GLB US QTLY DIV | 97717W844 |  | 552128 | 17134 | SH |  | SOLE |  | 0 | 0 | 17134 |
| WISDOMTREE TR | US SMALLCAP DIVD | 97717W604 |  | 1456907 | 51227 | SH |  | SOLE |  | 0 | 0 | 51227 |
| WISDOMTREE TR | EUROPE SMCP DV | 97717W869 |  | 287514 | 5255 | SH |  | SOLE |  | 0 | 0 | 5255 |
| WP CAREY INC | COM | 92936U109 |  | 2650914 | 33921 | SH |  | SOLE |  | 0 | 0 | 33921 |
| XYLEM INC | COM | 98419M100 |  | 566367 | 5122 | SH |  | SOLE |  | 0 | 0 | 5122 |
| ZOETIS INC | CL A | 98978V103 |  | 713607 | 4869 | SH |  | SOLE |  | 0 | 0 | 4869 |

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