# EDGAR Filing Document

**Accession Number:** 0001841496
**File Stem:** 0001667731-25-000769
**Filing Date:** 2025-7
**Character Count:** 28872
**Document Hash:** 35cdb6befba39876fa6d44747d190911
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001667731-25-000769.hdr.sgml**: 20250710

**ACCESSION NUMBER**: 0001667731-25-000769

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250710

**DATE AS OF CHANGE**: 20250710

**EFFECTIVENESS DATE**: 20250710

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Marshall Financial Group, LLC
- **CENTRAL INDEX KEY:** 0001841496

**ORGANIZATION NAME:**
- **EIN:** 043849187
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20487
- **FILM NUMBER:** 251115264

**BUSINESS ADDRESS:**
- **STREET 1:** 225 SCHILLING CIRCLE
- **STREET 2:** SUITE 295
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21031
- **BUSINESS PHONE:** 410.563.1190

**MAIL ADDRESS:**
- **STREET 1:** 225 SCHILLING CIRCLE
- **STREET 2:** SUITE 295
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21031

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Marshall Financial Group LLC
- **DATE OF NAME CHANGE:** 20210121

### 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:** Marshall Financial Group LLC<br>**Address:** 225 Schilling Circle<br>Suite 295<br>Hunt Valley, MD 21031

**Form 13F File Number:** 028-20487

**CRD Number (if applicable):** 000146362

**SEC File Number (if applicable):** 801-117820

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:** Peter Andrew Marshall<br>**Title:** CCO<br>**Phone:** 410-563-1044

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

/s/ Peter Andrew Marshall  Hunt Valley, MD  07-10-2025<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:** 0

**Form 13F Information Table Entry Total:** 251

**Form 13F Information Table Value Total:** $509962362

      (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 |  | 1933791 | 14464 | SH |  | SOLE |  | 0 | 0 | 14464 |
| ABBVIE INC | COM | 00287Y109 |  | 245684 | 1309 | SH |  | SOLE |  | 0 | 0 | 1309 |
| ADOBE INC | COM | 00724F101 |  | 1934405 | 5132 | SH |  | SOLE |  | 0 | 0 | 5132 |
| ADVANCED DRAIN SYS INC DEL | COM | 00790R104 |  | 1071234 | 9261 | SH |  | SOLE |  | 0 | 0 | 9261 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1374286 | 10195 | SH |  | SOLE |  | 0 | 0 | 10195 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 1185002 | 9937 | SH |  | SOLE |  | 0 | 0 | 9937 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3623171 | 20405 | SH |  | SOLE |  | 0 | 0 | 20405 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1188273 | 6721 | SH |  | SOLE |  | 0 | 0 | 6721 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 320979 | 6609 | SH |  | SOLE |  | 0 | 0 | 6609 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 456816 | 7582 | SH |  | SOLE |  | 0 | 0 | 7582 |
| AMAZON COM INC | COM | 023135106 |  | 2394505 | 10715 | SH |  | SOLE |  | 0 | 0 | 10715 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 287875 | 892 | SH |  | SOLE |  | 0 | 0 | 892 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 1550422 | 15732 | SH |  | SOLE |  | 0 | 0 | 15732 |
| APPLE INC | COM | 037833100 |  | 12361551 | 58879 | SH |  | SOLE |  | 0 | 0 | 58879 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 545807 | 5379 | SH |  | SOLE |  | 0 | 0 | 5379 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 1527016 | 1945 | SH |  | SOLE |  | 0 | 0 | 1945 |
| AT INC | COM | 00206R102 |  | 456106 | 16054 | SH |  | SOLE |  | 0 | 0 | 16054 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 548912 | 3593 | SH |  | SOLE |  | 0 | 0 | 3593 |
| AUTODESK INC | COM | 052769106 |  | 1385787 | 4395 | SH |  | SOLE |  | 0 | 0 | 4395 |
| BANK AMERICA CORP | COM | 060505104 |  | 934448 | 19204 | SH |  | SOLE |  | 0 | 0 | 19204 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1703699 | 3564 | SH |  | SOLE |  | 0 | 0 | 3564 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 716415 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BLACKSTONE INC | COM | 09260D107 |  | 516647 | 3377 | SH |  | SOLE |  | 0 | 0 | 3377 |
| BROADCOM INC | COM | 11135F101 |  | 5597457 | 20415 | SH |  | SOLE |  | 0 | 0 | 20415 |
| BROWN FORMAN CORP | CL B | 115637209 |  | 711180 | 25600 | SH |  | SOLE |  | 0 | 0 | 25600 |
| CACTUS INC | CL A | 127203107 |  | 939558 | 21407 | SH |  | SOLE |  | 0 | 0 | 21407 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 2549908 | 7961 | SH |  | SOLE |  | 0 | 0 | 7961 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 1077733 | 10476 | SH |  | SOLE |  | 0 | 0 | 10476 |
| CINTAS CORP | COM | 172908105 |  | 1406423 | 6465 | SH |  | SOLE |  | 0 | 0 | 6465 |
| CISCO SYS INC | COM | 17275R102 |  | 2196606 | 31867 | SH |  | SOLE |  | 0 | 0 | 31867 |
| COCA COLA CO | COM | 191216100 |  | 497790 | 7010 | SH |  | SOLE |  | 0 | 0 | 7010 |
| COMMERCE BANCSHARES INC | COM | 200525103 |  | 1228727 | 18924 | SH |  | SOLE |  | 0 | 0 | 18924 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 2710247 | 27181 | SH |  | SOLE |  | 0 | 0 | 27181 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 1626303 | 5110 | SH |  | SOLE |  | 0 | 0 | 5110 |
| COPART INC | COM | 217204106 |  | 1139106 | 23328 | SH |  | SOLE |  | 0 | 0 | 23328 |
| CORNERSTONE STRATEGIC INVEST | COM | 21924B302 |  | 81700 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 253545 | 256 | SH |  | SOLE |  | 0 | 0 | 256 |
| DBX ETF TR | XTRACK MUN INFRA | 233051705 |  | 257689 | 10817 | SH |  | SOLE |  | 0 | 0 | 10817 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 885128 | 8370 | SH |  | SOLE |  | 0 | 0 | 8370 |
| DEERE  CO | COM | 244199105 |  | 209498 | 411 | SH |  | SOLE |  | 0 | 0 | 411 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 3180020 | 18527 | SH |  | SOLE |  | 0 | 0 | 18527 |
| DIMENSIONAL ETF TRUST | INTL CORE EQT MK | 25434V203 |  | 891614 | 25987 | SH |  | SOLE |  | 0 | 0 | 25987 |
| DIMENSIONAL ETF TRUST | US CORE EQT MKT | 25434V104 |  | 1627180 | 38143 | SH |  | SOLE |  | 0 | 0 | 38143 |
| DIREXION SHS ETF TR | NAS100 EQL WGT | 25459Y207 |  | 1170701 | 11866 | SH |  | SOLE |  | 465 | 0 | 11401 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 839099 | 7154 | SH |  | SOLE |  | 0 | 0 | 7154 |
| EAGLE MATLS INC | COM | 26969P108 |  | 787595 | 3717 | SH |  | SOLE |  | 0 | 0 | 3717 |
| EATON CORP PLC | SHS | G29183103 |  | 2217335 | 6185 | SH |  | SOLE |  | 0 | 0 | 6185 |
| EATON VANCE RISK-MANAGED DIV | COM | 27829G106 |  | 111122 | 12402 | SH |  | SOLE |  | 0 | 0 | 12402 |
| ELI LILLY  CO | COM | 532457108 |  | 2308958 | 2988 | SH |  | SOLE |  | 0 | 0 | 2988 |
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 |  | 862713 | 13908 | SH |  | SOLE |  | 0 | 0 | 13908 |
| EXELON CORP | COM | 30161N101 |  | 336510 | 7795 | SH |  | SOLE |  | 0 | 0 | 7795 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 734580 | 6611 | SH |  | SOLE |  | 0 | 0 | 6611 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 1245163 | 2780 | SH |  | SOLE |  | 0 | 0 | 2780 |
| FAIR ISAAC CORP | COM | 303250104 |  | 252427 | 135 | SH |  | SOLE |  | 0 | 0 | 135 |
| FASTENAL CO | COM | 311900104 |  | 942715 | 22197 | SH |  | SOLE |  | 0 | 0 | 22197 |
| FEDERATED HERMES INC | CL B | 314211103 |  | 1012086 | 22200 | SH |  | SOLE |  | 0 | 0 | 22200 |
| FERRARI N V | COM | N3167Y103 |  | 1211446 | 2491 | SH |  | SOLE |  | 0 | 0 | 2491 |
| FIDELITY MERRIMACK STR TR | CORP BOND ETF | 316188101 |  | 684794 | 14564 | SH |  | SOLE |  | 176 | 0 | 14388 |
| FIDELITY MERRIMACK STR TR | TOTAL BD ETF | 316188309 |  | 707429 | 15565 | SH |  | SOLE |  | 180 | 0 | 15385 |
| FIRST TR EXCH TRADED FD III | MUNI HI INCM ETF | 33739P301 |  | 609510 | 13057 | SH |  | SOLE |  | 0 | 0 | 13057 |
| FIRST TR EXCH TRADED FD III | INSTL PFD SECS | 33739P855 |  | 223843 | 11775 | SH |  | SOLE |  | 0 | 0 | 11775 |
| FIRST TR EXCHANGE-TRADED FD | SMID RISNG ETF | 33741X102 |  | 2526982 | 70174 | SH |  | SOLE |  | 0 | 0 | 70174 |
| FIRST TR EXCHANGE-TRADED FD | FT VEST RIS | 33738D879 |  | 1104440 | 44426 | SH |  | SOLE |  | 0 | 0 | 44426 |
| FIRST TR EXCHANGE-TRADED FD | LNG DUR OPRTUN | 33738D606 |  | 14380476 | 680894 | SH |  | SOLE |  | 0 | 0 | 680894 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST US EQT | 33740F763 |  | 1206877 | 22975 | SH |  | SOLE |  | 0 | 0 | 22975 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST UQ EQT | 33740F672 |  | 362500 | 8824 | SH |  | SOLE |  | 0 | 0 | 8824 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST U.S EQT | 33740U695 |  | 241213 | 6587 | SH |  | SOLE |  | 0 | 0 | 6587 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST US SMALL | 33740F292 |  | 214356 | 9962 | SH |  | SOLE |  | 0 | 0 | 9962 |
| FIRST TR EXCHNG TRADED FD VI | VEST BUFFERED | 33740U760 |  | 1460986 | 61985 | SH |  | SOLE |  | 0 | 0 | 61985 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST US EQT | 33740F623 |  | 1021825 | 21395 | SH |  | SOLE |  | 0 | 0 | 21395 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST US EQT | 33740F862 |  | 292773 | 5964 | SH |  | SOLE |  | 0 | 0 | 5964 |
| FORTINET INC | COM | 34959E109 |  | 220552 | 2068 | SH |  | SOLE |  | 0 | 0 | 2068 |
| FS CREDIT OPPORTUNITIES CORP | COMMON STOCK | 30290Y101 |  | 79628 | 10953 | SH |  | SOLE |  | 0 | 0 | 10953 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 1099836 | 23111 | SH |  | SOLE |  | 0 | 0 | 23111 |
| GARMIN LTD | SHS | H2906T109 |  | 2651635 | 12366 | SH |  | SOLE |  | 0 | 0 | 12366 |
| GEN DIGITAL INC | COM | 668771108 |  | 1013079 | 33657 | SH |  | SOLE |  | 0 | 0 | 33657 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 567051 | 1924 | SH |  | SOLE |  | 0 | 0 | 1924 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 210370 | 1882 | SH |  | SOLE |  | 0 | 0 | 1882 |
| GLOBAL X FDS | US INFR DEV ETF | 37954Y673 |  | 10438173 | 235147 | SH |  | SOLE |  | 0 | 0 | 235147 |
| GOLD FIELDS LTD | SPONSORED ADR | 38059T106 |  | 1041596 | 41966 | SH |  | SOLE |  | 0 | 0 | 41966 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 368262 | 518 | SH |  | SOLE |  | 0 | 0 | 518 |
| GRACO INC | COM | 384109104 |  | 1207904 | 13787 | SH |  | SOLE |  | 0 | 0 | 13787 |
| HAMILTON LANE INC | CL A | 407497106 |  | 839061 | 5743 | SH |  | SOLE |  | 0 | 0 | 5743 |
| HARTFORD FDS EXCHANGE TRADED | TOTAL RTRN ETF | 41653L305 |  | 4057077 | 120639 | SH |  | SOLE |  | 0 | 0 | 120639 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 1149963 | 6370 | SH |  | SOLE |  | 0 | 0 | 6370 |
| HESS CORP | COM | 42809H107 |  | 923570 | 6444 | SH |  | SOLE |  | 0 | 0 | 6444 |
| HOME DEPOT INC | COM | 437076102 |  | 917845 | 2497 | SH |  | SOLE |  | 0 | 0 | 2497 |
| HONEYWELL INTL INC | COM | 438516106 |  | 1011849 | 4227 | SH |  | SOLE |  | 0 | 0 | 4227 |
| IDEXX LABS INC | COM | 45168D104 |  | 1316982 | 2414 | SH |  | SOLE |  | 0 | 0 | 2414 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 1282265 | 5035 | SH |  | SOLE |  | 0 | 0 | 5035 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 1232499 | 65489 | SH |  | SOLE |  | 0 | 0 | 65489 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C383 |  | 227185 | 5367 | SH |  | SOLE |  | 0 | 0 | 5367 |
| INNOVATOR ETFS TRUST | EQUITY DEFINED P | 45784N858 |  | 725306 | 29520 | SH |  | SOLE |  | 0 | 0 | 29520 |
| INNOVATOR ETFS TRUST | EQUITY DEFINED P | 45784N726 |  | 268339 | 10710 | SH |  | SOLE |  | 0 | 0 | 10710 |
| INNOVATOR ETFS TRUST | US EQTY PWR BUF | 45782C508 |  | 618366 | 14041 | SH |  | SOLE |  | 0 | 0 | 14041 |
| INNOVATOR ETFS TRUST | EQUITY DEFINED P | 45784N106 |  | 210193 | 8119 | SH |  | SOLE |  | 0 | 0 | 8119 |
| INNOVATOR ETFS TRUST | EQUITY DEFINED P | 45784N809 |  | 258786 | 10009 | SH |  | SOLE |  | 0 | 0 | 10009 |
| INSULET CORP | COM | 45784P101 |  | 943296 | 3137 | SH |  | SOLE |  | 0 | 0 | 3137 |
| INTERDIGITAL INC | COM | 45867G101 |  | 963199 | 4261 | SH |  | SOLE |  | 0 | 0 | 4261 |
| INVESCO EXCH TRADED FD TR II | S MIDCP LOW | 46138E198 |  | 235888 | 3794 | SH |  | SOLE |  | 0 | 0 | 3794 |
| INVESCO EXCH TRADED FD TR II | S SMALLCAP 600 | 46138G664 |  | 539672 | 12089 | SH |  | SOLE |  | 0 | 0 | 12089 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 229163 | 3144 | SH |  | SOLE |  | 0 | 0 | 3144 |
| INVESCO EXCH TRADED FD TR II | PFD ETF | 46138E511 |  | 213819 | 19040 | SH |  | SOLE |  | 0 | 0 | 19040 |
| INVESCO EXCH TRADED FD TR II | S MDCP 400 REV | 46138G672 |  | 845720 | 7014 | SH |  | SOLE |  | 0 | 0 | 7014 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 1558535 | 6860 | SH |  | SOLE |  | 0 | 0 | 6860 |
| INVESCO EXCH TRADED FD TR II | S 500 REVENUE | 46138G698 |  | 787284 | 7519 | SH |  | SOLE |  | 0 | 0 | 7519 |
| INVESCO EXCHANGE TRADED FD T | S MDCP QUALITY | 46137V472 |  | 1998148 | 19997 | SH |  | SOLE |  | 0 | 0 | 19997 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 1920546 | 10455 | SH |  | SOLE |  | 251 | 0 | 10204 |
| INVESCO EXCHANGE TRADED FD T | S SMCP VLU MNT | 46137V480 |  | 959222 | 17909 | SH |  | SOLE |  | 0 | 0 | 17909 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 7208333 | 13058 | SH |  | SOLE |  | 0 | 0 | 13058 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 799320 | 12668 | SH |  | SOLE |  | 0 | 0 | 12668 |
| ISHARES TR | ESG AWRE 1 5 YR | 46435G243 |  | 346049 | 13831 | SH |  | SOLE |  | 0 | 0 | 13831 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 851219 | 13479 | SH |  | SOLE |  | 715 | 0 | 12764 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 210612 | 2445 | SH |  | SOLE |  | 0 | 0 | 2445 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 442293 | 4160 | SH |  | SOLE |  | 0 | 0 | 4160 |
| ISHARES TR | MSCI INTL QUALTY | 46434V456 |  | 10378099 | 242366 | SH |  | SOLE |  | 0 | 0 | 242366 |
| ISHARES TR | ESG AWRE USD ETF | 46435G193 |  | 252510 | 10969 | SH |  | SOLE |  | 0 | 0 | 10969 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 899480 | 39590 | SH |  | SOLE |  | 360 | 0 | 39230 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 329375 | 1499 | SH |  | SOLE |  | 0 | 0 | 1499 |
| ISHARES TR | US TECH BRKTHR | 46436E502 |  | 273050 | 4749 | SH |  | SOLE |  | 419 | 0 | 4330 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 567959 | 8766 | SH |  | SOLE |  | 0 | 0 | 8766 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 265788 | 625 | SH |  | SOLE |  | 0 | 0 | 625 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 685563 | 8915 | SH |  | SOLE |  | 0 | 0 | 8915 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 1672679 | 9110 | SH |  | SOLE |  | 255 | 0 | 8855 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 238665 | 2011 | SH |  | SOLE |  | 0 | 0 | 2011 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1067429 | 1711 | SH |  | SOLE |  | 0 | 0 | 1711 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 720209 | 6479 | SH |  | SOLE |  | 191 | 0 | 6288 |
| ISHARES TR | MRGSTR MD CP ETF | 464288208 |  | 450427 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |
| ISHARES U S ETF TR | SHORT DURATION B | 46431W507 |  | 233955 | 4603 | SH |  | SOLE |  | 0 | 0 | 4603 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 1037538 | 18295 | SH |  | SOLE |  | 0 | 0 | 18295 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 16974333 | 314165 | SH |  | SOLE |  | 0 | 0 | 314165 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 1025837 | 20711 | SH |  | SOLE |  | 0 | 0 | 20711 |
| J P MORGAN EXCHANGE TRADED F | INTRNL RES EQT | 46641Q134 |  | 1408446 | 20158 | SH |  | SOLE |  | 672 | 0 | 19486 |
| JANUS DETROIT STR TR | B-BBB CLO ETF | 47103U753 |  | 20343013 | 421268 | SH |  | SOLE |  | 0 | 0 | 421268 |
| JANUS DETROIT STR TR | HENDRSON AAA CL | 47103U845 |  | 4816523 | 95226 | SH |  | SOLE |  | 0 | 0 | 95226 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1886929 | 12153 | SH |  | SOLE |  | 0 | 0 | 12153 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 1839227 | 6299 | SH |  | SOLE |  | 0 | 0 | 6299 |
| KINSALE CAP GROUP INC | COM | 49714P108 |  | 944377 | 1990 | SH |  | SOLE |  | 0 | 0 | 1990 |
| KLA CORP | COM NEW | 482480100 |  | 1859502 | 2038 | SH |  | SOLE |  | 0 | 0 | 2038 |
| KRAFT HEINZ CO | COM | 500754106 |  | 308604 | 11833 | SH |  | SOLE |  | 0 | 0 | 11833 |
| KROGER CO | COM | 501044101 |  | 3265414 | 45702 | SH |  | SOLE |  | 0 | 0 | 45702 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 3245788 | 33073 | SH |  | SOLE |  | 0 | 0 | 33073 |
| LATTICE STRATEGIES TR | HARTFORD US EQTY | 518416409 |  | 3890113 | 71933 | SH |  | SOLE |  | 0 | 0 | 71933 |
| LENNOX INTL INC | COM | 526107107 |  | 856165 | 1446 | SH |  | SOLE |  | 0 | 0 | 1446 |
| LINDE PLC | SHS | G54950103 |  | 928728 | 1978 | SH |  | SOLE |  | 0 | 0 | 1978 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 3234033 | 6895 | SH |  | SOLE |  | 0 | 0 | 6895 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 859766 | 3619 | SH |  | SOLE |  | 0 | 0 | 3619 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 249125 | 4102 | SH |  | SOLE |  | 0 | 0 | 4102 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 1301420 | 4675 | SH |  | SOLE |  | 0 | 0 | 4675 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 840703 | 3944 | SH |  | SOLE |  | 0 | 0 | 3944 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 2080882 | 3682 | SH |  | SOLE |  | 0 | 0 | 3682 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 1723638 | 23486 | SH |  | SOLE |  | 0 | 0 | 23486 |
| MCDONALDS CORP | COM | 580135101 |  | 2963472 | 10096 | SH |  | SOLE |  | 0 | 0 | 10096 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 979023 | 3070 | SH |  | SOLE |  | 0 | 0 | 3070 |
| MERCK  CO INC | COM | 58933Y105 |  | 2801332 | 34627 | SH |  | SOLE |  | 0 | 0 | 34627 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3569050 | 4968 | SH |  | SOLE |  | 0 | 0 | 4968 |
| MFS ACTIVE EXCHANGE TRADED F | CORE PLUS BD ETF | 55286W108 |  | 18245058 | 735391 | SH |  | SOLE |  | 0 | 0 | 735391 |
| MICROSOFT CORP | COM | 594918104 |  | 5667131 | 11386 | SH |  | SOLE |  | 0 | 0 | 11386 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 389198 | 5655 | SH |  | SOLE |  | 0 | 0 | 5655 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 1435663 | 1937 | SH |  | SOLE |  | 0 | 0 | 1937 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 2303955 | 36658 | SH |  | SOLE |  | 0 | 0 | 36658 |
| MOODYS CORP | COM | 615369105 |  | 1792206 | 3568 | SH |  | SOLE |  | 0 | 0 | 3568 |
| NETAPP INC | COM | 64110D104 |  | 1024089 | 9707 | SH |  | SOLE |  | 0 | 0 | 9707 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 1165233 | 8759 | SH |  | SOLE |  | 0 | 0 | 8759 |
| NETFLIX INC | COM | 64110L106 |  | 3518083 | 2728 | SH |  | SOLE |  | 0 | 0 | 2728 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 834713 | 11167 | SH |  | SOLE |  | 0 | 0 | 11167 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 1909242 | 15634 | SH |  | SOLE |  | 0 | 0 | 15634 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 272566 | 3932 | SH |  | SOLE |  | 0 | 0 | 3932 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 12571691 | 79447 | SH |  | SOLE |  | 0 | 0 | 79447 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 1254334 | 5550 | SH |  | SOLE |  | 0 | 0 | 5550 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 1904084 | 11588 | SH |  | SOLE |  | 0 | 0 | 11588 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 1050117 | 17688 | SH |  | SOLE |  | 0 | 0 | 17688 |
| PACER FDS TR | METAURUS CAP 400 | 69374H436 |  | 227158 | 5729 | SH |  | SOLE |  | 0 | 0 | 5729 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 249025 | 1790 | SH |  | SOLE |  | 0 | 0 | 1790 |
| PALOMAR HLDGS INC | COM | 69753M105 |  | 796063 | 5478 | SH |  | SOLE |  | 0 | 0 | 5478 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 981463 | 1389 | SH |  | SOLE |  | 0 | 0 | 1389 |
| PAYCHEX INC | COM | 704326107 |  | 1158982 | 7956 | SH |  | SOLE |  | 0 | 0 | 7956 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 273181 | 3586 | SH |  | SOLE |  | 0 | 0 | 3586 |
| PENTAIR PLC | SHS | G7S00T104 |  | 1057250 | 10069 | SH |  | SOLE |  | 0 | 0 | 10069 |
| PEPSICO INC | COM | 713448108 |  | 377783 | 2810 | SH |  | SOLE |  | 0 | 0 | 2810 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 7985379 | 160996 | SH |  | SOLE |  | 0 | 0 | 160996 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1234334 | 6812 | SH |  | SOLE |  | 0 | 0 | 6812 |
| PIMCO ETF TR | SHTRM MUN BD ACT | 72201R874 |  | 255706 | 5100 | SH |  | SOLE |  | 0 | 0 | 5100 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 700098 | 6984 | SH |  | SOLE |  | 81 | 0 | 6903 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 764830 | 14924 | SH |  | SOLE |  | 0 | 0 | 14924 |
| PINNACLE WEST CAP CORP | COM | 723484101 |  | 540240 | 5996 | SH |  | SOLE |  | 0 | 0 | 5996 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 3848184 | 23976 | SH |  | SOLE |  | 0 | 0 | 23976 |
| PROSHARES TR | ULTRPRO S | 74347X864 |  | 1083588 | 11717 | SH |  | SOLE |  | 0 | 0 | 11717 |
| PROSHARES TR | PSHS ULT S 500 | 74347R107 |  | 24920961 | 252979 | SH |  | SOLE |  | 0 | 0 | 252979 |
| PROSHARES TR | PSHS ULTRA QQQ | 74347R206 |  | 30246664 | 256981 | SH |  | SOLE |  | 0 | 0 | 256981 |
| PROSHARES TR | ULTRAPRO QQQ | 74347X831 |  | 1767274 | 21313 | SH |  | SOLE |  | 0 | 0 | 21313 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 879471 | 3012 | SH |  | SOLE |  | 0 | 0 | 3012 |
| QUALCOMM INC | COM | 747525103 |  | 2324802 | 14706 | SH |  | SOLE |  | 0 | 0 | 14706 |
| RELX PLC | SPONSORED ADR | 759530108 |  | 1221573 | 22859 | SH |  | SOLE |  | 0 | 0 | 22859 |
| RESMED INC | COM | 761152107 |  | 2442055 | 9524 | SH |  | SOLE |  | 0 | 0 | 9524 |
| S GLOBAL INC | COM | 78409V104 |  | 1337114 | 2522 | SH |  | SOLE |  | 0 | 0 | 2522 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 288425 | 3115 | SH |  | SOLE |  | 0 | 0 | 3115 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 414819 | 18933 | SH |  | SOLE |  | 0 | 0 | 18933 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 14427380 | 582454 | SH |  | SOLE |  | 0 | 0 | 582454 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 1249765 | 31370 | SH |  | SOLE |  | 0 | 0 | 31370 |
| SEI INVTS CO | COM | 784117103 |  | 1034380 | 11163 | SH |  | SOLE |  | 0 | 0 | 11163 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 291119 | 1142 | SH |  | SOLE |  | 0 | 0 | 1142 |
| SELLAS LIFE SCIENCES GROUP I | COM NEW | 81642T209 |  | 22371 | 10309 | SH |  | SOLE |  | 0 | 0 | 10309 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 905954 | 5489 | SH |  | SOLE |  | 0 | 0 | 5489 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 394882 | 20524 | SH |  | SOLE |  | 0 | 0 | 20524 |
| SOUTHERN CO | COM | 842587107 |  | 2890631 | 31536 | SH |  | SOLE |  | 0 | 0 | 31536 |
| SOUTHERN COPPER CORP | COM | 84265V105 |  | 2361483 | 22596 | SH |  | SOLE |  | 0 | 0 | 22596 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 353957 | 797 | SH |  | SOLE |  | 0 | 0 | 797 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 2174448 | 3503 | SH |  | SOLE |  | 0 | 0 | 3503 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 259549 | 1884 | SH |  | SOLE |  | 0 | 0 | 1884 |
| SPDR SERIES TRUST | S 500 ESG ETF | 78468R531 |  | 341452 | 5807 | SH |  | SOLE |  | 0 | 0 | 5807 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 357616 | 8638 | SH |  | SOLE |  | 0 | 0 | 8638 |
| SSGA ACTIVE ETF TR | SPDR TR TACTIC | 78467V848 |  | 1351213 | 34061 | SH |  | SOLE |  | 0 | 0 | 34061 |
| SSGA ACTIVE TR | SPDR BLACKSTONE | 78470P846 |  | 401633 | 14102 | SH |  | SOLE |  | 0 | 0 | 14102 |
| SSGA ACTIVE TR | SPDR LOOMIS SAYL | 78470P804 |  | 26294805 | 1015832 | SH |  | SOLE |  | 0 | 0 | 1015832 |
| T ROWE PRICE ETF INC | US EQUITY RESEAR | 87283Q503 |  | 3911994 | 100051 | SH |  | SOLE |  | 0 | 0 | 100051 |
| TANGER INC | COM | 875465106 |  | 774823 | 24778 | SH |  | SOLE |  | 0 | 0 | 24778 |
| TERADYNE INC | COM | 880770102 |  | 1014278 | 11196 | SH |  | SOLE |  | 0 | 0 | 11196 |
| TESLA INC | COM | 88160R101 |  | 728112 | 2477 | SH |  | SOLE |  | 0 | 0 | 2477 |
| THOMSON REUTERS CORP | COM | 884903808 |  | 923640 | 4592 | SH |  | SOLE |  | 0 | 0 | 4592 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 2251774 | 23291 | SH |  | SOLE |  | 0 | 0 | 23291 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 211340 | 444 | SH |  | SOLE |  | 0 | 0 | 444 |
| UNION PAC CORP | COM | 907818108 |  | 1028786 | 4371 | SH |  | SOLE |  | 0 | 0 | 4371 |
| VANECK ETF TRUST | IG FLOATING RATE | 92189F486 |  | 664220 | 26109 | SH |  | SOLE |  | 321 | 0 | 25788 |
| VANECK ETF TRUST | DURABLE HGH DIV | 92189H102 |  | 1145503 | 34763 | SH |  | SOLE |  | 655 | 0 | 34108 |
| VANECK ETF TRUST | PREFERRED SECURT | 92189F429 |  | 941152 | 54308 | SH |  | SOLE |  | 462 | 0 | 53846 |
| VANECK ETF TRUST | FALLEN ANGEL HG | 92189F437 |  | 284372 | 9789 | SH |  | SOLE |  | 283 | 0 | 9506 |
| VANECK ETF TRUST | MRNGSTR WDE MOAT | 92189F643 |  | 1493447 | 15562 | SH |  | SOLE |  | 471 | 0 | 15091 |
| VANGUARD ADMIRAL FDS INC | 500 VAL IDX FD | 921932703 |  | 664999 | 3493 | SH |  | SOLE |  | 0 | 0 | 3493 |
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 |  | 319798 | 6485 | SH |  | SOLE |  | 167 | 0 | 6318 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 411275 | 1346 | SH |  | SOLE |  | 0 | 0 | 1346 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 551878 | 1955 | SH |  | SOLE |  | 0 | 0 | 1955 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1213183 | 5041 | SH |  | SOLE |  | 0 | 0 | 5041 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 469105 | 822 | SH |  | SOLE |  | 0 | 0 | 822 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 987884 | 3449 | SH |  | SOLE |  | 0 | 0 | 3449 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1670776 | 33801 | SH |  | SOLE |  | 485 | 0 | 33316 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 1230440 | 21774 | SH |  | SOLE |  | 0 | 0 | 21774 |
| VANGUARD WORLD FD | MEGA CAP INDEX | 921910873 |  | 532990 | 2362 | SH |  | SOLE |  | 0 | 0 | 2362 |
| VANGUARD WORLD FD | EXTENDED DUR | 921910709 |  | 6020307 | 93266 | SH |  | SOLE |  | 0 | 0 | 93266 |
| VANGUARD WORLD FD | FINANCIALS ETF | 92204A405 |  | 360003 | 2803 | SH |  | SOLE |  | 0 | 0 | 2803 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 325428 | 1056 | SH |  | SOLE |  | 0 | 0 | 1056 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 3084261 | 72062 | SH |  | SOLE |  | 0 | 0 | 72062 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 235218 | 512 | SH |  | SOLE |  | 0 | 0 | 512 |
| VISA INC | COM CL A | 92826C839 |  | 3749857 | 10514 | SH |  | SOLE |  | 0 | 0 | 10514 |
| VISTRA CORP | COM | 92840M102 |  | 1474644 | 7613 | SH |  | SOLE |  | 0 | 0 | 7613 |
| WALMART INC | COM | 931142103 |  | 4254859 | 42827 | SH |  | SOLE |  | 0 | 0 | 42827 |
| WELLTOWER INC | COM | 95040Q104 |  | 646291 | 4190 | SH |  | SOLE |  | 0 | 0 | 4190 |
| WEST PHARMACEUTICAL SVSC INC | COM | 955306105 |  | 209894 | 948 | SH |  | SOLE |  | 0 | 0 | 948 |
| WESTERN UN CO | COM | 959802109 |  | 703410 | 82560 | SH |  | SOLE |  | 0 | 0 | 82560 |
| XP INC | CL A | G98239109 |  | 1240357 | 63673 | SH |  | SOLE |  | 0 | 0 | 63673 |
| ZOETIS INC | CL A | 98978V103 |  | 1747085 | 11124 | SH |  | SOLE |  | 0 | 0 | 11124 |

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