# EDGAR Filing Document

**Accession Number:** 0001570296
**File Stem:** 0001570296-23-000002
**Filing Date:** 2023-2
**Character Count:** 22608
**Document Hash:** fbd172a8f14e977b2838663e1376b116
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001570296-23-000002.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001570296-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fernwood Investment Management, LLC
- **CENTRAL INDEX KEY:** 0001570296
- **IRS NUMBER:** 300156397

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15739
- **FILM NUMBER:** 23593149

**BUSINESS ADDRESS:**
- **STREET 1:** 400 CROWN COLONY
- **STREET 2:** SUITE 101
- **CITY:** QUINCY
- **STATE:** MA
- **ZIP:** 02169
- **BUSINESS PHONE:** 617-376-4750

**MAIL ADDRESS:**
- **STREET 1:** 400 CROWN COLONY
- **STREET 2:** SUITE 101
- **CITY:** QUINCY
- **STATE:** MA
- **ZIP:** 02169

### 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:** Fernwood Investment Management LLC<br>**Address:** 400 CROWN COLONY<br>SUITE 101<br>QUINCY, MA 02169

**Form 13F File Number:** 028-15739

**CRD Number (if applicable):** 000126144

**SEC File Number (if applicable):** 801-61950

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:** Collette B Rajotte<br>**Title:** Compliance Associate<br>**Phone:** 617-376-4750

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

Collette B Rajotte  Quincy, MA  02-07-2023<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:** 182

**Form 13F Information Table Value Total:** $241779277

      (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 |
| AMAZON.COM INC | Stock | 023135106 |  | 3744552 | 44578 | SH |  | SOLE | 0 | 44578 | 0 | 0 |
| TECHNOLOGY SELECT SECTOR SPDR | ETF | 81369Y803 |  | 674465 | 5420 | SH |  | SOLE | 0 | 5420 | 0 | 0 |
| STARBUCKS CORP | Stock | 855244109 |  | 341248 | 3440 | SH |  | SOLE | 0 | 3440 | 0 | 0 |
| GOLDMAN SACHS ACTIVEBETA INTERNATIONAL EQUITY ETF | ETF | 381430107 |  | 975642 | 33900 | SH |  | SOLE | 0 | 33900 | 0 | 0 |
| JOHN HANCOCK MULTIFACTOR LARGE CAP ETF | ETF | 47804J107 |  | 486147 | 9871 | SH |  | SOLE | 0 | 9871 | 0 | 0 |
| JOHNSON  JOHNSON COM | Stock | 478160104 |  | 3572701 | 20225 | SH |  | SOLE | 0 | 20224 | 0 | 0 |
| ASPIRA WOMENS HEALTH INC COM | Stock | 04537Y109 |  | 3326 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | Stock | 38141G104 |  | 342376 | 997 | SH |  | SOLE | 0 | 997 | 0 | 0 |
| SCOTTS MIRACLE-GRO CO CL A | Stock | 810186106 |  | 245622 | 5055 | SH |  | SOLE | 0 | 5055 | 0 | 0 |
| VERINT SYS INC COM | Stock | 92343X100 |  | 1019468 | 28100 | SH |  | SOLE | 0 | 28100 | 0 | 0 |
| YUM BRANDS INC COM | Stock | 988498101 |  | 1421688 | 11100 | SH |  | SOLE | 0 | 11100 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | Stock | 101137107 |  | 1023677 | 22124 | SH |  | SOLE | 0 | 22124 | 0 | 0 |
| PROCTER AND GAMBLE CO COM | Stock | 742718109 |  | 227643 | 1502 | SH |  | SOLE | 0 | 1502 | 0 | 0 |
| DREYFUS HI YIELD STRATEGIC FD | CEF | 09660L105 |  | 35424 | 16400 | SH |  | SOLE | 0 | 16400 | 0 | 0 |
| COCA COLA CO COM | Stock | 191216100 |  | 418808 | 6584 | SH |  | SOLE | 0 | 6584 | 0 | 0 |
| UNITED PARCEL SERVICE INC CL B | Stock | 911312106 |  | 880152 | 5063 | SH |  | SOLE | 0 | 5063 | 0 | 0 |
| VANGUARD REAL ESTATE ETF | ETF | 922908553 |  | 256317 | 3108 | SH |  | SOLE | 0 | 3107 | 0 | 0 |
| ISHARES MSCI USA ESG SELECT ETF | ETF | 464288802 |  | 835713 | 10152 | SH |  | SOLE | 0 | 10152 | 0 | 0 |
| BIOGEN IDEC INC | Stock | 09062X103 |  | 1226756 | 4430 | SH |  | SOLE | 0 | 4430 | 0 | 0 |
| MEDTRONIC PLC SHS | Stock | G5960L103 |  | 1604607 | 20646 | SH |  | SOLE | 0 | 20646 | 0 | 0 |
| NETFLIX COM INC | Stock | 64110L106 |  | 327759 | 1112 | SH |  | SOLE | 0 | 1111 | 0 | 0 |
| QURATE RETAIL INC COM SER A | Stock | 74915M100 |  | 32600 | 20000 | SH |  | SOLE | 0 | 20000 | 0 | 0 |
| WATERS CP | Stock | 941848103 |  | 693725 | 2025 | SH |  | SOLE | 0 | 2025 | 0 | 0 |
| VAN KAMPEN SENIOR INCOME TRUST | CEF | 46131H107 |  | 65658 | 17143 | SH |  | SOLE | 0 | 17143 | 0 | 0 |
| WELLS FARGO CO NEW PERP PFD CNV A | Convertible Preferred | 949746804 |  | 573540 | 484 | SH |  | SOLE | 0 | 484 | 0 | 0 |
| SPDR S 500 ETF TRUST | ETF | 78462F103 |  | 882588 | 2308 | SH |  | SOLE | 0 | 2307 | 0 | 0 |
| MASTERCARD INC | Stock | 57636Q104 |  | 375201 | 1079 | SH |  | SOLE | 0 | 1079 | 0 | 0 |
| SBA COMMUNICATIONS CP | REIT | 78410G104 |  | 1506666 | 5375 | SH |  | SOLE | 0 | 5375 | 0 | 0 |
| YUM CHINA HLDGS INC COM | Stock | 98850P109 |  | 1858100 | 34000 | SH |  | SOLE | 0 | 34000 | 0 | 0 |
| SAFETY INSURANCE GROUP IN | Stock | 78648T100 |  | 1271736 | 15093 | SH |  | SOLE | 0 | 15093 | 0 | 0 |
| JOUNCE THERAPEUTICS INC COM | Stock | 481116101 |  | 35807 | 32259 | SH |  | SOLE | 0 | 32259 | 0 | 0 |
| MARVELL TECHNOLOGY INC COM | Stock | 573874104 |  | 1961716 | 52962 | SH |  | SOLE | 0 | 52962 | 0 | 0 |
| HONEYWELL INTL INC COM | Stock | 438516106 |  | 531464 | 2480 | SH |  | SOLE | 0 | 2480 | 0 | 0 |
| TRANE TECHNOLOGIES PLC SHS | Stock | G8994E103 |  | 389296 | 2316 | SH |  | SOLE | 0 | 2316 | 0 | 0 |
| FORD MOTOR COMPANY | Stock | 345370860 |  | 162136 | 13941 | SH |  | SOLE | 0 | 13941 | 0 | 0 |
| HOME DEPOT | Stock | 437076102 |  | 737217 | 2334 | SH |  | SOLE | 0 | 2334 | 0 | 0 |
| DUPONT DE NEMOURS INC COM | Stock | 26614N102 |  | 412535 | 6011 | SH |  | SOLE | 0 | 6011 | 0 | 0 |
| HEALTH CARE SELECT SECTOR SPDR | ETF | 81369Y209 |  | 1681008 | 12374 | SH |  | SOLE | 0 | 12374 | 0 | 0 |
| SPDR GOLD ETF | ETF | 78463V107 |  | 247674 | 1460 | SH |  | SOLE | 0 | 1460 | 0 | 0 |
| AMERISOURCEBERGEN CORP COM | Stock | 03073E105 |  | 1955378 | 11800 | SH |  | SOLE | 0 | 11800 | 0 | 0 |
| MONGODB INC CL A | Stock | 60937P106 |  | 4617177 | 23457 | SH |  | SOLE | 0 | 23456 | 0 | 0 |
| ISHARES RUSSELL 1000 GROWTH ETF | ETF | 464287614 |  | 533886 | 2492 | SH |  | SOLE | 0 | 2492 | 0 | 0 |
| IRIDIUM COMMUNICATIONS INC COM | Stock | 46269C102 |  | 2871821 | 55872 | SH |  | SOLE | 0 | 55872 | 0 | 0 |
| SPDR PORTFOLIO S 400 MID CAP ETF | ETF | 78464A847 |  | 560023 | 13177 | SH |  | SOLE | 0 | 13177 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | Stock | 084670702 |  | 1030182 | 3335 | SH |  | SOLE | 0 | 3335 | 0 | 0 |
| WEYERHAEUSER CO MTN BE COM NEW | REIT | 962166104 |  | 515220 | 16620 | SH |  | SOLE | 0 | 16620 | 0 | 0 |
| ALPHABET INC CLASS A | Stock | 02079K305 |  | 3704337 | 41985 | SH |  | SOLE | 0 | 41985 | 0 | 0 |
| O REILLY AUTOMOTIVE INC | Stock | 67103H107 |  | 1662739 | 1970 | SH |  | SOLE | 0 | 1970 | 0 | 0 |
| CONSTELLATION BRANDS INC CL A | Stock | 21036P108 |  | 1941665 | 8378 | SH |  | SOLE | 0 | 8378 | 0 | 0 |
| MICROSOFT | Stock | 594918104 |  | 1856236 | 7740 | SH |  | SOLE | 0 | 7740 | 0 | 0 |
| CERIDIAN HCM HLDG INC COM | Stock | 15677J108 |  | 1705749 | 26590 | SH |  | SOLE | 0 | 26590 | 0 | 0 |
| HEALTH CARE PPTY INVS INC | REIT | 42250P103 |  | 276422 | 11026 | SH |  | SOLE | 0 | 11026 | 0 | 0 |
| CVS HEALTH CORP COM | Stock | 126650100 |  | 5067269 | 54376 | SH |  | SOLE | 0 | 54375 | 0 | 0 |
| ARES CAPITAL CORP COM | CEF | 04010L103 |  | 4487956 | 242986 | SH |  | SOLE | 0 | 242986 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL A | Stock | 084670108 |  | 1406133 | 3 | SH |  | SOLE | 0 | 3 | 0 | 0 |
| CBOE GLOBAL MKTS INC COM | Stock | 12503M108 |  | 1122957 | 8950 | SH |  | SOLE | 0 | 8950 | 0 | 0 |
| BOEING CO COM | Stock | 097023105 |  | 204205 | 1072 | SH |  | SOLE | 0 | 1072 | 0 | 0 |
| ALIGN TECHNOLOGY INC | Stock | 016255101 |  | 237263 | 1125 | SH |  | SOLE | 0 | 1125 | 0 | 0 |
| TESLA MOTORS INC | Stock | 88160R101 |  | 905866 | 7354 | SH |  | SOLE | 0 | 7354 | 0 | 0 |
| MSCI INC COM | Stock | 55354G100 |  | 4056282 | 8720 | SH |  | SOLE | 0 | 8720 | 0 | 0 |
| NORFOLK SOUTHERN CRP | Stock | 655844108 |  | 246420 | 1000 | SH |  | SOLE | 0 | 1000 | 0 | 0 |
| HARLEY DAVIDSON INC COM | Stock | 412822108 |  | 673920 | 16200 | SH |  | SOLE | 0 | 16200 | 0 | 0 |
| DOLLAR TREE STORES INC | Stock | 256746108 |  | 381888 | 2700 | SH |  | SOLE | 0 | 2700 | 0 | 0 |
| DOW INC COM | Stock | 260557103 |  | 334741 | 6643 | SH |  | SOLE | 0 | 6643 | 0 | 0 |
| CONAGRA BRANDS INC COM | Stock | 205887102 |  | 778489 | 20116 | SH |  | SOLE | 0 | 20116 | 0 | 0 |
| LYONDELLBASELL | Stock | N53745100 |  | 429680 | 5175 | SH |  | SOLE | 0 | 5175 | 0 | 0 |
| GLOBAL X CLOUD COMPUTING ETF | ETF | 37954Y442 |  | 921725 | 57500 | SH |  | SOLE | 0 | 57500 | 0 | 0 |
| ILLUMINA INC | Stock | 452327109 |  | 920010 | 4550 | SH |  | SOLE | 0 | 4550 | 0 | 0 |
| CORTEVA INC COM | Stock | 22052L104 |  | 689254 | 11726 | SH |  | SOLE | 0 | 11726 | 0 | 0 |
| CROWDSTRIKE HLDGS INC CL A | Stock | 22788C105 |  | 770723 | 7320 | SH |  | SOLE | 0 | 7320 | 0 | 0 |
| BRIDGEBIO PHARMA INC COM | Stock | 10806X102 |  | 1546860 | 203000 | SH |  | SOLE | 0 | 203000 | 0 | 0 |
| LILLY ELI  CO COM | Stock | 532457108 |  | 5207001 | 14233 | SH |  | SOLE | 0 | 14233 | 0 | 0 |
| ISHARES RUSSELL 2000 ETF | ETF | 464287655 |  | 2443155 | 14012 | SH |  | SOLE | 0 | 14012 | 0 | 0 |
| INVESCO SENIOR LOAN ETF | ETF | 46138G508 |  | 385964 | 18800 | SH |  | SOLE | 0 | 18800 | 0 | 0 |
| ISHARES TR HIGH DIVID EQUITY FD | ETF | 46429B663 |  | 291976 | 2801 | SH |  | SOLE | 0 | 2801 | 0 | 0 |
| REVOLUTION MEDICINES INC COM | Stock | 76155X100 |  | 336458 | 14125 | SH |  | SOLE | 0 | 14125 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC COM | Stock | 169656105 |  | 1788475 | 1289 | SH |  | SOLE | 0 | 1289 | 0 | 0 |
| MADISON SQUARE GRDN ENTERTNMNT CL A | Stock | 55826T102 |  | 518279 | 11525 | SH |  | SOLE | 0 | 11525 | 0 | 0 |
| PLIANT THERAPEUTICS INC | Stock | 729139105 |  | 5887396 | 304573 | SH |  | SOLE | 0 | 304573 | 0 | 0 |
| RELAY THERAPEUTICS INC COM | Stock | 75943R102 |  | 2764841 | 185063 | SH |  | SOLE | 0 | 185063 | 0 | 0 |
| ISHARES DJ SELECT DIVIDEND | ETF | 464287168 |  | 2075888 | 17213 | SH |  | SOLE | 0 | 17213 | 0 | 0 |
| MDU RES GROUP INC COM | Stock | 552690109 |  | 303400 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| ISHARES RUSSELL MIDCAP GROWTH ETF | ETF | 464287481 |  | 220704 | 2640 | SH |  | SOLE | 0 | 2640 | 0 | 0 |
| FIRST TRUST CLOUD COMPUTING ETF | ETF | 33734X192 |  | 227259 | 3945 | SH |  | SOLE | 0 | 3944 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC CL A | Stock | 69608A108 |  | 83460 | 13000 | SH |  | SOLE | 0 | 13000 | 0 | 0 |
| COGNYTE SOFTWARE LTD ORD SHS | Stock | M25133105 |  | 65155 | 20950 | SH |  | SOLE | 0 | 20950 | 0 | 0 |
| CTRIP.COM INTL LTD AMERICAN DEP SHS | ADR | 89677Q107 |  | 312008 | 9070 | SH |  | SOLE | 0 | 9070 | 0 | 0 |
| TRACTOR SUPPLY CO | Stock | 892356106 |  | 337455 | 1500 | SH |  | SOLE | 0 | 1500 | 0 | 0 |
| IMMUNOGEN INC COM | Stock | 45253H101 |  | 725053 | 146180 | SH |  | SOLE | 0 | 146180 | 0 | 0 |
| VISA INC | Stock | 92826C839 |  | 2883563 | 13879 | SH |  | SOLE | 0 | 13879 | 0 | 0 |
| CERBERUS CYBER SENTINEL CORP COM | Stock | 15672X102 |  | 1045500 | 410000 | SH |  | SOLE | 0 | 410000 | 0 | 0 |
| HERSHEY CO COM | Stock | 427866108 |  | 746813 | 3225 | SH |  | SOLE | 0 | 3225 | 0 | 0 |
| N-ABLE INC COMMON STOCK | Stock | 62878D100 |  | 155228 | 15100 | SH |  | SOLE | 0 | 15100 | 0 | 0 |
| LEXINFINTECH HLDGS LTD ADR | ADR | 528877103 |  | 21850 | 11500 | SH |  | SOLE | 0 | 11500 | 0 | 0 |
| JACKSON FINANCIAL INC COM CL A | Stock | 46817M107 |  | 305282 | 8775 | SH |  | SOLE | 0 | 8775 | 0 | 0 |
| JASPER THERAPEURITC INC. | Stock | 471871103 |  | 219578 | 454706 | SH |  | SOLE | 0 | 454706 | 0 | 0 |
| KELLOGG CO COM | Stock | 487836108 |  | 1386866 | 19468 | SH |  | SOLE | 0 | 19467 | 0 | 0 |
| ISHARES MSCI INDIA ETF | ETF | 46429B598 |  | 234370 | 5615 | SH |  | SOLE | 0 | 5615 | 0 | 0 |
| CIVITAS RESOURCES INC COM NEW | Stock | 17888H103 |  | 432100 | 7459 | SH |  | SOLE | 0 | 7459 | 0 | 0 |
| PHILLIPS 66 | Stock | 718546104 |  | 1834930 | 17630 | SH |  | SOLE | 0 | 17630 | 0 | 0 |
| ISHARES CORE S TOTAL U.S. STOCK MARKET ETF | ETF | 464287150 |  | 230072 | 2713 | SH |  | SOLE | 0 | 2713 | 0 | 0 |
| META PLATFORMS INC CL A | Stock | 30303M102 |  | 2624254 | 21807 | SH |  | SOLE | 0 | 21807 | 0 | 0 |
| AMERICAN AIRLS GROUP INC COM | Stock | 02376R102 |  | 638595 | 50204 | SH |  | SOLE | 0 | 50204 | 0 | 0 |
| FIRST TRUST NORTH AMERICAN ENERGY INFRASTRUCTURE FUND | ETF | 33738D101 |  | 2014294 | 75470 | SH |  | SOLE | 0 | 75470 | 0 | 0 |
| Horizon Kinetics Inflation Beneficiaries ETF | ETF | 53656F623 |  | 666498 | 21172 | SH |  | SOLE | 0 | 21172 | 0 | 0 |
| KAR AUCTION SVCS INC COM | Stock | 48238T109 |  | 511560 | 39200 | SH |  | SOLE | 0 | 39200 | 0 | 0 |
| GENTHERM INC COM | Stock | 37253A103 |  | 645392 | 9885 | SH |  | SOLE | 0 | 9885 | 0 | 0 |
| WORKDAY INC COM | Stock | 98138H101 |  | 364779 | 2180 | SH |  | SOLE | 0 | 2180 | 0 | 0 |
| SL GREEN RLTY CORP COM | REIT | 78440X887 |  | 679755 | 20159 | SH |  | SOLE | 0 | 20158 | 0 | 0 |
| ACCENTURE PLC IRELAND SHS CLASS A | Stock | G1151C101 |  | 1502576 | 5631 | SH |  | SOLE | 0 | 5631 | 0 | 0 |
| NEOGENOMICS INC COM NEW | Stock | 64049M209 |  | 704088 | 76200 | SH |  | SOLE | 0 | 76200 | 0 | 0 |
| SPDR BLOOMBERG INVESTMENT GRADE FLOATING RATE ETF | ETF | 78468R200 |  | 1215600 | 40000 | SH |  | SOLE | 0 | 40000 | 0 | 0 |
| NVIDIA CORPORATION COM | Stock | 67066G104 |  | 1441240 | 9862 | SH |  | SOLE | 0 | 9862 | 0 | 0 |
| ISHARES SHORT TREASURY BOND ETF | ETF | 464288679 |  | 868258 | 7899 | SH |  | SOLE | 0 | 7899 | 0 | 0 |
| ABBVIE INC COM | Stock | 00287Y109 |  | 2004714 | 12405 | SH |  | SOLE | 0 | 12404 | 0 | 0 |
| MCDONALDS CORP COM | Stock | 580135101 |  | 1541969 | 5851 | SH |  | SOLE | 0 | 5851 | 0 | 0 |
| CISCO SYS INC | Stock | 17275R102 |  | 238915 | 5015 | SH |  | SOLE | 0 | 5015 | 0 | 0 |
| CYTOKINETICS INC COM NEW | Stock | 23282W605 |  | 458200 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| WISDOMTREE U.S. MIDCAP DIVIDEND FUND | ETF | 97717W505 |  | 203584 | 4949 | SH |  | SOLE | 0 | 4948 | 0 | 0 |
| ENERGY SELECT SECTOR SPDR | ETF | 81369Y506 |  | 1109629 | 12686 | SH |  | SOLE | 0 | 12685 | 0 | 0 |
| ISHARES DOW JONES US CONSUMER GOODS | ETF | 464287812 |  | 5622169 | 27725 | SH |  | SOLE | 0 | 27725 | 0 | 0 |
| ISHARES BIOTECHNOLOGY ETF | ETF | 464287556 |  | 613912 | 4676 | SH |  | SOLE | 0 | 4676 | 0 | 0 |
| ISHARES MSCI USA QUALITY FACTOR ETF | ETF | 46432F339 |  | 760455 | 6673 | SH |  | SOLE | 0 | 6673 | 0 | 0 |
| UNIVERSAL DISPLAY CORP | Stock | 91347P105 |  | 930765 | 8615 | SH |  | SOLE | 0 | 8615 | 0 | 0 |
| CONSUMER DISCRETIONARY SEL SECTOR SPDR FD | ETF | 81369Y407 |  | 408533 | 3163 | SH |  | SOLE | 0 | 3163 | 0 | 0 |
| SKYWORKS SOLUTIONS INC COM | Stock | 83088M102 |  | 918135 | 10075 | SH |  | SOLE | 0 | 10075 | 0 | 0 |
| SPDR PORTFOLIO S 600 SMALL CAP ETF | ETF | 78468R853 |  | 321861 | 8706 | SH |  | SOLE | 0 | 8706 | 0 | 0 |
| ISHARES S 500 GROWTH ETF | ETF | 464287309 |  | 506961 | 8666 | SH |  | SOLE | 0 | 8666 | 0 | 0 |
| ISHARES S 500 INDEX | ETF | 464287200 |  | 8390739 | 21839 | SH |  | SOLE | 0 | 21838 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATION COM | Stock | 88262P102 |  | 18096595 | 7720 | SH |  | SOLE | 0 | 7719 | 0 | 0 |
| METTLER TOLEDO INTL INCF | Stock | 592688105 |  | 448090 | 310 | SH |  | SOLE | 0 | 310 | 0 | 0 |
| UNION PAC CORP COM | Stock | 907818108 |  | 3099412 | 14968 | SH |  | SOLE | 0 | 14967 | 0 | 0 |
| MCCORMICK  CO INC COM NON VTG | Stock | 579780206 |  | 866201 | 10450 | SH |  | SOLE | 0 | 10450 | 0 | 0 |
| GOLAR LNG LTD SHS ISIN BMG9456A1009 | Stock | G9456A100 |  | 1836874 | 80600 | SH |  | SOLE | 0 | 80600 | 0 | 0 |
| JPMORGAN CHASE  CO COM | Stock | 46625H100 |  | 215633 | 1608 | SH |  | SOLE | 0 | 1608 | 0 | 0 |
| CHEVRON CORP NEW COM | Stock | 166764100 |  | 252363 | 1406 | SH |  | SOLE | 0 | 1406 | 0 | 0 |
| ALPHATEC HLDGS INC COM NEW | Stock | 02081G201 |  | 1305975 | 105747 | SH |  | SOLE | 0 | 105747 | 0 | 0 |
| CONOCOPHILLIPS COM | Stock | 20825C104 |  | 1700498 | 14411 | SH |  | SOLE | 0 | 14411 | 0 | 0 |
| DANAHER CORP | Stock | 235851102 |  | 914903 | 3447 | SH |  | SOLE | 0 | 3447 | 0 | 0 |
| PIMCO ENHANCED LOW DURATION ACTIVE ETF | ETF | 72201R718 |  | 942600 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| HANCOCK JOHN TAX-ADVANTAGED DI COM | CEF | 41013V100 |  | 409880 | 17930 | SH |  | SOLE | 0 | 17930 | 0 | 0 |
| SPDR PORTFOLIO S 1500 COMPOSITE STOCK MARKET ETF | ETF | 78464A805 |  | 1563006 | 33052 | SH |  | SOLE | 0 | 33051 | 0 | 0 |
| WALMART INC COM | Stock | 931142103 |  | 326613 | 2303 | SH |  | SOLE | 0 | 2303 | 0 | 0 |
| FIRST TRUST US EQUITY OPPORTUNITIES ETF | ETF | 336920103 |  | 1217749 | 15477 | SH |  | SOLE | 0 | 15477 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP COM | Stock | 75513E101 |  | 401542 | 3979 | SH |  | SOLE | 0 | 3978 | 0 | 0 |
| VANGUARD HIGH DIVIDEND YIELD | ETF | 921946406 |  | 275771 | 2548 | SH |  | SOLE | 0 | 2548 | 0 | 0 |
| PFIZER INC COM | Stock | 717081103 |  | 1017012 | 19848 | SH |  | SOLE | 0 | 19848 | 0 | 0 |
| COUPA SOFTWARE INC COM | Stock | 22266L106 |  | 385954 | 4875 | SH |  | SOLE | 0 | 4875 | 0 | 0 |
| GILEAD SCIENCES INC | Stock | 375558103 |  | 1971717 | 22967 | SH |  | SOLE | 0 | 22967 | 0 | 0 |
| CATERPILLAR INC COM | Stock | 149123101 |  | 646093 | 2697 | SH |  | SOLE | 0 | 2697 | 0 | 0 |
| ALPHABET INC CAP STK CL C | Stock | 02079K107 |  | 1886400 | 21260 | SH |  | SOLE | 0 | 21260 | 0 | 0 |
| WISDOMTREE EMERGING MARKETS EQUITY INCOME ETF | ETF | 97717W315 |  | 503344 | 14123 | SH |  | SOLE | 0 | 14123 | 0 | 0 |
| WILLIAMS COS INC COM | Stock | 969457100 |  | 701560 | 21324 | SH |  | SOLE | 0 | 21324 | 0 | 0 |
| ISHARES AGGREGATE BOND ETF | ETF | 464287226 |  | 215945 | 2226 | SH |  | SOLE | 0 | 2226 | 0 | 0 |
| ISHARES CORE DIVIDEND GROWTH ETF | ETF | 46434V621 |  | 4466227 | 89325 | SH |  | SOLE | 0 | 89324 | 0 | 0 |
| TRUPANION INC COM | Stock | 898202106 |  | 475300 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| AXON ENTERPRISE INC COM | Stock | 05464C101 |  | 2279878 | 13740 | SH |  | SOLE | 0 | 13740 | 0 | 0 |
| IPG PHOTONICS CORP COM | Stock | 44980X109 |  | 315724 | 3335 | SH |  | SOLE | 0 | 3335 | 0 | 0 |
| ALIBABA GROUP HLDG LTD SPONSORED ADS | ADR | 01609W102 |  | 528804 | 6003 | SH |  | SOLE | 0 | 6003 | 0 | 0 |
| SPDR PORTFOLIO S 500 GROWTH ETF | ETF | 78464A409 |  | 1276935 | 25201 | SH |  | SOLE | 0 | 25201 | 0 | 0 |
| SPDR PORTFOLIO S 500 VALUE ETF | ETF | 78464A508 |  | 1354811 | 34837 | SH |  | SOLE | 0 | 34837 | 0 | 0 |
| PHILIP MORRIS INTL INC | Stock | 718172109 |  | 3218706 | 31802 | SH |  | SOLE | 0 | 31802 | 0 | 0 |
| NUCOR CORP COM | Stock | 670346105 |  | 370386 | 2810 | SH |  | SOLE | 0 | 2810 | 0 | 0 |
| VANGUARD MEGA CAP GROWTH ETF | ETF | 921910816 |  | 5641221 | 32784 | SH |  | SOLE | 0 | 32784 | 0 | 0 |
| EMQQ THE EMERGING MARKETS INTERNET  ECOMMERCE ETF | ETF | 301505889 |  | 1307079 | 43965 | SH |  | SOLE | 0 | 43965 | 0 | 0 |
| WISDOMTREE EMERGING MARKETS EX-STATE-OWNED ENTERPRISES FUND | ETF | 97717X578 |  | 207650 | 7783 | SH |  | SOLE | 0 | 7783 | 0 | 0 |
| ALTRIA GROUP INC COM | Stock | 02209S103 |  | 3071354 | 67192 | SH |  | SOLE | 0 | 67192 | 0 | 0 |
| SPDR DOUBLELINE TOTAL RETURN TACTICAL ETF | ETF | 78467V848 |  | 447261 | 11170 | SH |  | SOLE | 0 | 11170 | 0 | 0 |
| EXXON MOBIL CORP COM | Stock | 30231G102 |  | 2105848 | 19092 | SH |  | SOLE | 0 | 19092 | 0 | 0 |
| UNITEDHEALTH GROUP | Stock | 91324P102 |  | 660604 | 1246 | SH |  | SOLE | 0 | 1246 | 0 | 0 |
| COLGATE PALMOLIVE CO COM | Stock | 194162103 |  | 252128 | 3200 | SH |  | SOLE | 0 | 3200 | 0 | 0 |
| DEVON ENERGY CORP | Stock | 25179M103 |  | 238351 | 3875 | SH |  | SOLE | 0 | 3875 | 0 | 0 |
| PAYPAL HLDGS INC COM | Stock | 70450Y103 |  | 492415 | 6914 | SH |  | SOLE | 0 | 6914 | 0 | 0 |
| SPDR PORTFOLIO DEVELOPED WORLD EX-US ETF | ETF | 78463X889 |  | 367562 | 12380 | SH |  | SOLE | 0 | 12380 | 0 | 0 |
| ISHARES CORE S MID-CAP ETF | ETF | 464287507 |  | 2635633 | 10896 | SH |  | SOLE | 0 | 10896 | 0 | 0 |
| APPLE INC | Stock | 037833100 |  | 8346539 | 64239 | SH |  | SOLE | 0 | 64238 | 0 | 0 |
| ABBOTT LABS COM | Stock | 002824100 |  | 567285 | 5167 | SH |  | SOLE | 0 | 5167 | 0 | 0 |
| DISNEY WALT CO COM | Stock | 254687106 |  | 1130512 | 13012 | SH |  | SOLE | 0 | 13012 | 0 | 0 |
| MADISON SQUARE GRDN SPRT CORP CL A | Stock | 55825T103 |  | 1237891 | 6752 | SH |  | SOLE | 0 | 6752 | 0 | 0 |
| ISHARES RUSSELL 1000 ETF | ETF | 464287622 |  | 2625816 | 12473 | SH |  | SOLE | 0 | 12473 | 0 | 0 |
| SPDR SER TR LEHMAN 1-3 MONTH T-BILL ETF | ETF | 78468R663 |  | 1613073 | 17635 | SH |  | SOLE | 0 | 17635 | 0 | 0 |
| ISHARES RUSSELL 1000 VALUE ETF | ETF | 464287598 |  | 469812 | 3098 | SH |  | SOLE | 0 | 3098 | 0 | 0 |

---