# EDGAR Filing Document

**Accession Number:** 0001842089
**File Stem:** 0001842089-25-000002
**Filing Date:** 2025-10
**Character Count:** 17008
**Document Hash:** 77f28fc95e41a08d2de0bf06c72ed213
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001842089-25-000002.hdr.sgml**: 20251014

**ACCESSION NUMBER**: 0001842089-25-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251014

**DATE AS OF CHANGE**: 20251014

**EFFECTIVENESS DATE**: 20251014

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STABLEFORD CAPITAL II LLC
- **CENTRAL INDEX KEY:** 0001842089

**ORGANIZATION NAME:**
- **EIN:** 814441355
- **STATE OF INCORPORATION:** AZ
- **FISCAL YEAR END:** 1220

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20521
- **FILM NUMBER:** 251390028

**BUSINESS ADDRESS:**
- **STREET 1:** 14646 NORTH KIERLAND BLVD, SUITE 145
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85254
- **BUSINESS PHONE:** 4807509967

**MAIL ADDRESS:**
- **STREET 1:** 14646 NORTH KIERLAND BLVD, SUITE 145
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85254

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** STABLEFORD CAPITAL II LLC<br>**Address:** 14646 NORTH KIERLAND BLVD SUITE 145<br>SCOTTSDALE, AZ 85254

**Form 13F File Number:** 028-20521

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:** Paul Mallory<br>**Title:** Compliance Consultant<br>**Phone:** 248-830-3715

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

Paul Mallory  Royal Oak, MI  10-14-2025<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:** 138

**Form 13F Information Table Value Total:** $276702438

      (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 |  | 1745372 | 13031 | SH |  | SOLE |  | 0 | 0 | 13031 |
| ABBVIE INC | COM | 00287Y109 |  | 994001 | 4293 | SH |  | SOLE |  | 0 | 0 | 4293 |
| ABRDN SILVER ETF TRUST | PHYSCL SILVR SHS | 003264108 |  | 2900185 | 65202 | SH |  | SOLE |  | 0 | 0 | 65202 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 745225 | 3022 | SH |  | SOLE |  | 0 | 0 | 3022 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1163594 | 7192 | SH |  | SOLE |  | 0 | 0 | 7192 |
| AGNC INVT CORP | COM | 00123Q104 |  | 1089744 | 111312 | SH |  | SOLE |  | 0 | 0 | 111312 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 593439 | 2176 | SH |  | SOLE |  | 0 | 0 | 2176 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 14233019 | 58548 | SH |  | SOLE |  | 0 | 0 | 58548 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 435745 | 9285 | SH |  | SOLE |  | 0 | 0 | 9285 |
| AMAZON COM INC | COM | 023135106 |  | 9731342 | 44320 | SH |  | SOLE |  | 0 | 0 | 44320 |
| ANNALY CAPITAL MANAGEMENT IN | COM NEW | 035710839 |  | 1034732 | 51199 | SH |  | SOLE |  | 0 | 0 | 51199 |
| APPLE INC | COM | 037833100 |  | 4894752 | 19223 | SH |  | SOLE |  | 0 | 0 | 19223 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 1691438 | 82873 | SH |  | SOLE |  | 0 | 0 | 82873 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 1483114 | 1532 | SH |  | SOLE |  | 0 | 0 | 1532 |
| AT INC | COM | 00206R102 |  | 1352301 | 47886 | SH |  | SOLE |  | 0 | 0 | 47886 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 672976 | 4214 | SH |  | SOLE |  | 0 | 0 | 4214 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 1622628 | 8400 | SH |  | SOLE |  | 0 | 0 | 8400 |
| B2GOLD CORP | COM | 11777Q209 |  | 74250 | 15000 | SH |  | SOLE |  | 0 | 0 | 15000 |
| BANK AMERICA CORP | COM | 060505104 |  | 1034844 | 20059 | SH |  | SOLE |  | 0 | 0 | 20059 |
| BARCLAYS BANK PLC | IPATH S 500 SH | 06748M196 |  | 15455445 | 466087 | SH |  | SOLE |  | 0 | 0 | 466087 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 979840 | 1949 | SH |  | SOLE |  | 0 | 0 | 1949 |
| BOEING CO | COM | 097023105 |  | 1026919 | 4758 | SH |  | SOLE |  | 0 | 0 | 4758 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 894974 | 9167 | SH |  | SOLE |  | 0 | 0 | 9167 |
| BROADCOM INC | COM | 11135F101 |  | 1183717 | 3588 | SH |  | SOLE |  | 0 | 0 | 3588 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 607554 | 2858 | SH |  | SOLE |  | 0 | 0 | 2858 |
| CATERPILLAR INC | COM | 149123101 |  | 1008695 | 2114 | SH |  | SOLE |  | 0 | 0 | 2114 |
| CBRE GROUP INC | CL A | 12504L109 |  | 630398 | 4001 | SH |  | SOLE |  | 0 | 0 | 4001 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 655124 | 2788 | SH |  | SOLE |  | 0 | 0 | 2788 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1154426 | 7434 | SH |  | SOLE |  | 0 | 0 | 7434 |
| CIA ENERGETICA DE MINAS GERA | SP ADR N-V PFD | 204409601 |  | 80655 | 38225 | SH |  | SOLE |  | 0 | 0 | 38225 |
| CITIGROUP INC | COM NEW | 172967424 |  | 1437240 | 14160 | SH |  | SOLE |  | 0 | 0 | 14160 |
| COCA COLA CO | COM | 191216100 |  | 986842 | 14880 | SH |  | SOLE |  | 0 | 0 | 14880 |
| COMPASS PATHWAYS PLC | SPONSORED ADS | 20451W101 |  | 943513 | 164662 | SH |  | SOLE |  | 0 | 0 | 164662 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 1021099 | 10795 | SH |  | SOLE |  | 0 | 0 | 10795 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 1624524 | 12063 | SH |  | SOLE |  | 0 | 0 | 12063 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 1089222 | 3310 | SH |  | SOLE |  | 0 | 0 | 3310 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1129269 | 1220 | SH |  | SOLE |  | 0 | 0 | 1220 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 2863329 | 5839 | SH |  | SOLE |  | 0 | 0 | 5839 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 1133674 | 9161 | SH |  | SOLE |  | 0 | 0 | 9161 |
| EATON CORP PLC | SHS | G29183103 |  | 1354037 | 3618 | SH |  | SOLE |  | 0 | 0 | 3618 |
| EATON VANCE TAX-MANAGED BUY- | COM | 27828Y108 |  | 546559 | 38355 | SH |  | SOLE |  | 0 | 0 | 38355 |
| ECOLAB INC | COM | 278865100 |  | 993290 | 3627 | SH |  | SOLE |  | 0 | 0 | 3627 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 389360 | 1205 | SH |  | SOLE |  | 0 | 0 | 1205 |
| ELI LILLY  CO | COM | 532457108 |  | 5752257 | 7539 | SH |  | SOLE |  | 0 | 0 | 7539 |
| ENBRIDGE INC | COM | 29250N105 |  | 1912484 | 37901 | SH |  | SOLE |  | 0 | 0 | 37901 |
| EOG RES INC | COM | 26875P101 |  | 1094403 | 9761 | SH |  | SOLE |  | 0 | 0 | 9761 |
| ESSEX PPTY TR INC | COM | 297178105 |  | 1635938 | 6112 | SH |  | SOLE |  | 0 | 0 | 6112 |
| ESTABLISHMENT LABS HLDGS INC | COM | G31249108 |  | 1008313 | 24599 | SH |  | SOLE |  | 0 | 0 | 24599 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 4017508 | 35632 | SH |  | SOLE |  | 0 | 0 | 35632 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 |  | 1884569 | 18602 | SH |  | SOLE |  | 0 | 0 | 18602 |
| FIDELITY COVINGTON TRUST | MSCI UTILS INDEX | 316092865 |  | 512748 | 9080 | SH |  | SOLE |  | 0 | 0 | 9080 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 |  | 279072 | 15300 | SH |  | SOLE |  | 0 | 0 | 15300 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 760222 | 2993 | SH |  | SOLE |  | 0 | 0 | 2993 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 1167854 | 29777 | SH |  | SOLE |  | 0 | 0 | 29777 |
| GE AEROSPACE | COM NEW | 369604301 |  | 1585021 | 5269 | SH |  | SOLE |  | 0 | 0 | 5269 |
| GE VERNOVA INC | COM | 36828A101 |  | 999827 | 1626 | SH |  | SOLE |  | 0 | 0 | 1626 |
| HOME DEPOT INC | COM | 437076102 |  | 2637787 | 6510 | SH |  | SOLE |  | 0 | 0 | 6510 |
| HUBBELL INC | COM | 443510607 |  | 1335252 | 3103 | SH |  | SOLE |  | 0 | 0 | 3103 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 476850 | 1690 | SH |  | SOLE |  | 0 | 0 | 1690 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 837215 | 1872 | SH |  | SOLE |  | 0 | 0 | 1872 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 307990 | 513 | SH |  | SOLE |  | 0 | 0 | 513 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 7086052 | 97376 | SH |  | SOLE |  | 0 | 0 | 97376 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 8665620 | 78429 | SH |  | SOLE |  | 0 | 0 | 78429 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 366982 | 11606 | SH |  | SOLE |  | 0 | 0 | 11606 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 370840 | 3103 | SH |  | SOLE |  | 0 | 0 | 3103 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 653764 | 28277 | SH |  | SOLE |  | 0 | 0 | 28277 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 5913809 | 58727 | SH |  | SOLE |  | 0 | 0 | 58727 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 1231312 | 6048 | SH |  | SOLE |  | 0 | 0 | 6048 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 9876925 | 102394 | SH |  | SOLE |  | 0 | 0 | 102394 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 403148 | 4511 | SH |  | SOLE |  | 0 | 0 | 4511 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1573660 | 8487 | SH |  | SOLE |  | 0 | 0 | 8487 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 2565392 | 8133 | SH |  | SOLE |  | 0 | 0 | 8133 |
| LINDE PLC | SHS | G54950103 |  | 1792175 | 3773 | SH |  | SOLE |  | 0 | 0 | 3773 |
| LOWES COS INC | COM | 548661107 |  | 2648305 | 10538 | SH |  | SOLE |  | 0 | 0 | 10538 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 2720049 | 4782 | SH |  | SOLE |  | 0 | 0 | 4782 |
| MCDONALDS CORP | COM | 580135101 |  | 972144 | 3199 | SH |  | SOLE |  | 0 | 0 | 3199 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 1020497 | 10715 | SH |  | SOLE |  | 0 | 0 | 10715 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 4573392 | 1957 | SH |  | SOLE |  | 0 | 0 | 1957 |
| MERCK  CO INC | COM | 58933Y105 |  | 1103931 | 13153 | SH |  | SOLE |  | 0 | 0 | 13153 |
| META PLATFORMS INC | CL A | 30303M102 |  | 7311487 | 9956 | SH |  | SOLE |  | 0 | 0 | 9956 |
| MICROSOFT CORP | COM | 594918104 |  | 12064091 | 23292 | SH |  | SOLE |  | 0 | 0 | 23292 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 1674245 | 11982 | SH |  | SOLE |  | 0 | 0 | 11982 |
| MOODYS CORP | COM | 615369105 |  | 1015855 | 2132 | SH |  | SOLE |  | 0 | 0 | 2132 |
| MSCI INC | COM | 55354G100 |  | 1012259 | 1784 | SH |  | SOLE |  | 0 | 0 | 1784 |
| NETFLIX INC | COM | 64110L106 |  | 986711 | 823 | SH |  | SOLE |  | 0 | 0 | 823 |
| NEWMONT CORP | COM | 651639106 |  | 1593543 | 18901 | SH |  | SOLE |  | 0 | 0 | 18901 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 986428 | 13067 | SH |  | SOLE |  | 0 | 0 | 13067 |
| NISOURCE INC | COM | 65473P105 |  | 760954 | 17574 | SH |  | SOLE |  | 0 | 0 | 17574 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 3110102 | 16669 | SH |  | SOLE |  | 0 | 0 | 16669 |
| OKTA INC | CL A | 679295105 |  | 515262 | 5619 | SH |  | SOLE |  | 0 | 0 | 5619 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 719808 | 5113 | SH |  | SOLE |  | 0 | 0 | 5113 |
| ORACLE CORP | COM | 68389X105 |  | 1254049 | 4459 | SH |  | SOLE |  | 0 | 0 | 4459 |
| PERION NETWORK LTD | SHS NEW | M78673114 |  | 758026 | 78961 | SH |  | SOLE |  | 0 | 0 | 78961 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1281218 | 7899 | SH |  | SOLE |  | 0 | 0 | 7899 |
| PLAINS GP HLDGS L P | LTD PARTNR INT A | 72651A207 |  | 635427 | 34837 | SH |  | SOLE |  | 0 | 0 | 34837 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 675929 | 3364 | SH |  | SOLE |  | 0 | 0 | 3364 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 976292 | 6354 | SH |  | SOLE |  | 0 | 0 | 6354 |
| PROLOGIS INC. | COM | 74340W103 |  | 2415227 | 21090 | SH |  | SOLE |  | 0 | 0 | 21090 |
| PROSHARES TR | SHRT HGH YIELD | 74347R131 |  | 4727152 | 307457 | SH |  | SOLE |  | 0 | 0 | 307457 |
| PROSHARES TR | SHORT QQQ | 74349Y837 |  | 248320 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| QXO INC | COM NEW | 82846H405 |  | 991387 | 52014 | SH |  | SOLE |  | 0 | 0 | 52014 |
| REGENCY CTRS CORP | COM | 758849103 |  | 2076046 | 28478 | SH |  | SOLE |  | 0 | 0 | 28478 |
| RTX CORPORATION | COM | 75513E101 |  | 994944 | 5946 | SH |  | SOLE |  | 0 | 0 | 5946 |
| SALESFORCE INC | COM | 79466L302 |  | 957480 | 4040 | SH |  | SOLE |  | 0 | 0 | 4040 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 3330280 | 34883 | SH |  | SOLE |  | 0 | 0 | 34883 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 5627612 | 223940 | SH |  | SOLE |  | 0 | 0 | 223940 |
| SCHWAB STRATEGIC TR | US REIT ETF | 808524847 |  | 473311 | 21943 | SH |  | SOLE |  | 0 | 0 | 21943 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 275095 | 976 | SH |  | SOLE |  | 0 | 0 | 976 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 207502 | 1491 | SH |  | SOLE |  | 0 | 0 | 1491 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 2428537 | 27847 | SH |  | SOLE |  | 0 | 0 | 27847 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 2640579 | 7626 | SH |  | SOLE |  | 0 | 0 | 7626 |
| SOUTHERN CO | COM | 842587107 |  | 1102080 | 11629 | SH |  | SOLE |  | 0 | 0 | 11629 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 327094 | 491 | SH |  | SOLE |  | 0 | 0 | 491 |
| SPDR SERIES TRUST | S REGL BKG | 78464A698 |  | 2064213 | 32610 | SH |  | SOLE |  | 0 | 0 | 32610 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 7517628 | 81936 | SH |  | SOLE |  | 0 | 0 | 81936 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 337172 | 8109 | SH |  | SOLE |  | 0 | 0 | 8109 |
| T-MOBILE US INC | COM | 872590104 |  | 1717791 | 7176 | SH |  | SOLE |  | 0 | 0 | 7176 |
| TC ENERGY CORP | COM | 87807B107 |  | 1579305 | 29026 | SH |  | SOLE |  | 0 | 0 | 29026 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1341565 | 2766 | SH |  | SOLE |  | 0 | 0 | 2766 |
| TJX COS INC NEW | COM | 872540109 |  | 1047770 | 7249 | SH |  | SOLE |  | 0 | 0 | 7249 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 830353 | 630 | SH |  | SOLE |  | 0 | 0 | 630 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 1016831 | 10379 | SH |  | SOLE |  | 0 | 0 | 10379 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1033483 | 2993 | SH |  | SOLE |  | 0 | 0 | 2993 |
| US BANCORP DEL | COM NEW | 902973304 |  | 1220477 | 25253 | SH |  | SOLE |  | 0 | 0 | 25253 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 599740 | 7850 | SH |  | SOLE |  | 0 | 0 | 7850 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 925890 | 11924 | SH |  | SOLE |  | 0 | 0 | 11924 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 5225491 | 87048 | SH |  | SOLE |  | 0 | 0 | 87048 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 589611 | 7010 | SH |  | SOLE |  | 0 | 0 | 7010 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000IDX | 92206C664 |  | 2168082 | 22164 | SH |  | SOLE |  | 0 | 0 | 22164 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 472732 | 1821 | SH |  | SOLE |  | 0 | 0 | 1821 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1249630 | 28433 | SH |  | SOLE |  | 0 | 0 | 28433 |
| VISA INC | COM CL A | 92826C839 |  | 3257448 | 9542 | SH |  | SOLE |  | 0 | 0 | 9542 |
| VISTRA CORP | COM | 92840M102 |  | 935518 | 4775 | SH |  | SOLE |  | 0 | 0 | 4775 |
| WALMART INC | COM | 931142103 |  | 1014729 | 9846 | SH |  | SOLE |  | 0 | 0 | 9846 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 290171 | 1314 | SH |  | SOLE |  | 0 | 0 | 1314 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 3067812 | 36600 | SH |  | SOLE |  | 0 | 0 | 36600 |
| WELLTOWER INC | COM | 95040Q104 |  | 1006313 | 5649 | SH |  | SOLE |  | 0 | 0 | 5649 |
| WILLIAMS COS INC | COM | 969457100 |  | 1612638 | 25456 | SH |  | SOLE |  | 0 | 0 | 25456 |

---