# EDGAR Filing Document

**Accession Number:** 0002011958
**File Stem:** 0001172661-26-000534
**Filing Date:** 2026-2
**Character Count:** 17626
**Document Hash:** 1ae3914540395b0a57112c0566fecc59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-000534.hdr.sgml**: 20260209

**ACCESSION NUMBER**: 0001172661-26-000534

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260209

**DATE AS OF CHANGE**: 20260209

**EFFECTIVENESS DATE**: 20260209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Kuhn & Co Investment Counsel
- **CENTRAL INDEX KEY:** 0002011958

**ORGANIZATION NAME:**
- **EIN:** 844596748
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23882
- **FILM NUMBER:** 26609950

**BUSINESS ADDRESS:**
- **STREET 1:** 8770 WEST BRYN MAWR AVENUE
- **STREET 2:** SUITE 710
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60631
- **BUSINESS PHONE:** 6304167700

**MAIL ADDRESS:**
- **STREET 1:** 8770 WEST BRYN MAWR AVENUE
- **STREET 2:** SUITE 710
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60631

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**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:** Kuhn  Co Investment Counsel<br>**Address:** 8770 West Bryn Mawr Avenue<br>Suite 710<br>Chicago, IL 60631

**Form 13F File Number:** 028-23882

**CRD Number (if applicable):** 000306434

**SEC File Number (if applicable):** 801-126088

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:** Kevin Kuhn<br>**Title:** Chief Compliance Officer<br>**Phone:** 6304167700

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

/s/ Kevin Kuhn  Chicago, IL  02-09-2026<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:** 142

**Form 13F Information Table Value Total:** $150059617

      (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 |
| 3M CO | COM | 88579Y101 |  | 216936 | 1355 | SH |  | SOLE |  | 0 | 0 | 1355 |
| ABBOTT LABS | COM | 002824100 |  | 283031 | 2259 | SH |  | SOLE |  | 0 | 0 | 2259 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 1312256 | 4891 | SH |  | SOLE |  | 0 | 0 | 4891 |
| ADOBE INC | COM | 00724F101 |  | 559984 | 1600 | SH |  | SOLE |  | 0 | 0 | 1600 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2054625 | 6564 | SH |  | SOLE |  | 0 | 0 | 6564 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 923514 | 2943 | SH |  | SOLE |  | 0 | 0 | 2943 |
| AMAZON COM INC | COM | 023135106 |  | 2989581 | 12952 | SH |  | SOLE |  | 0 | 0 | 12952 |
| AMERESCO INC | CL A | 02361E108 |  | 663419 | 22650 | SH |  | SOLE |  | 0 | 0 | 22650 |
| AMERICAN CENTY ETF TR | AVANTIS EMGMKT | 025072604 |  | 735773 | 9553 | SH |  | SOLE |  | 0 | 0 | 9553 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 757357 | 6568 | SH |  | SOLE |  | 0 | 0 | 6568 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 693502 | 3950 | SH |  | SOLE |  | 0 | 0 | 3950 |
| AMGEN INC | COM | 031162100 |  | 905995 | 2768 | SH |  | SOLE |  | 0 | 0 | 2768 |
| ANALOG DEVICES INC | COM | 032654105 |  | 228622 | 843 | SH |  | SOLE |  | 0 | 0 | 843 |
| APPLE INC | COM | 037833100 |  | 5302090 | 19503 | SH |  | SOLE |  | 0 | 0 | 19503 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 204538 | 1561 | SH |  | SOLE |  | 0 | 0 | 1561 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 307680 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| ARK ETF TR | NEXT GNRTN INTER | 00214Q401 |  | 295460 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 257725 | 1328 | SH |  | SOLE |  | 0 | 0 | 1328 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 226193 | 450 | SH |  | SOLE |  | 0 | 0 | 450 |
| BLACKROCK ETF TRUST II | SHORT DURATION H | 092528108 |  | 527059 | 23720 | SH |  | SOLE |  | 0 | 0 | 23720 |
| BLACKROCK INC | COM | 09290D101 |  | 661471 | 618 | SH |  | SOLE |  | 0 | 0 | 618 |
| BOEING CO | COM | 097023105 |  | 365631 | 1684 | SH |  | SOLE |  | 0 | 0 | 1684 |
| BROADCOM INC | COM | 11135F101 |  | 622928 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| CAPITAL GROUP DIVIDEND VALUE | SHS CREATION UNI | 14020W106 |  | 3760983 | 86182 | SH |  | SOLE |  | 0 | 0 | 86182 |
| CAPITAL GROUP GROWTH ETF | SHS CREATION UNI | 14020G101 |  | 5444640 | 122434 | SH |  | SOLE |  | 0 | 0 | 122434 |
| CAPITAL GROUP INTL FOCUS EQT | SHS CREATION UNI | 14019W109 |  | 1104698 | 37384 | SH |  | SOLE |  | 0 | 0 | 37384 |
| CHEVRON CORP NEW | COM | 166764100 |  | 345362 | 2266 | SH |  | SOLE |  | 0 | 0 | 2266 |
| CISCO SYS INC | COM | 17275R102 |  | 528426 | 6860 | SH |  | SOLE |  | 0 | 0 | 6860 |
| CME GROUP INC | COM | 12572Q105 |  | 235122 | 861 | SH |  | SOLE |  | 0 | 0 | 861 |
| COCA COLA CO | COM | 191216100 |  | 325711 | 4659 | SH |  | SOLE |  | 0 | 0 | 4659 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 369150 | 3943 | SH |  | SOLE |  | 0 | 0 | 3943 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 541563 | 1533 | SH |  | SOLE |  | 0 | 0 | 1533 |
| CORPAY INC | COM SHS | 219948106 |  | 541674 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 375477 | 801 | SH |  | SOLE |  | 0 | 0 | 801 |
| DANAHER CORPORATION | COM | 235851102 |  | 547119 | 2390 | SH |  | SOLE |  | 0 | 0 | 2390 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 665284 | 5676 | SH |  | SOLE |  | 0 | 0 | 5676 |
| ECOLAB INC | COM | 278865100 |  | 459936 | 1752 | SH |  | SOLE |  | 0 | 0 | 1752 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 374037 | 1067 | SH |  | SOLE |  | 0 | 0 | 1067 |
| ELI LILLY  CO | COM | 532457108 |  | 3440051 | 3201 | SH |  | SOLE |  | 0 | 0 | 3201 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 721997 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| FIDELITY COVINGTON TRUST | ENHANCED LARGE | 31609A305 |  | 744220 | 17847 | SH |  | SOLE |  | 0 | 0 | 17847 |
| FIDELITY COVINGTON TRUST | SML MID MLTFCT | 316092527 |  | 1393802 | 31584 | SH |  | SOLE |  | 0 | 0 | 31584 |
| FIDELITY MERRIMACK STR TR | TOTAL BD ETF | 316188309 |  | 2054443 | 44623 | SH |  | SOLE |  | 0 | 0 | 44623 |
| FIRST BUSEY CORP | COM NEW | 319383204 |  | 238329 | 10018 | SH |  | SOLE |  | 0 | 0 | 10018 |
| FLEXSHARES TR | HIG YLD VL ETF | 33939L662 |  | 697547 | 17124 | SH |  | SOLE |  | 0 | 0 | 17124 |
| GENUINE PARTS CO | COM | 372460105 |  | 251208 | 2043 | SH |  | SOLE |  | 0 | 0 | 2043 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 2041917 | 2323 | SH |  | SOLE |  | 0 | 0 | 2323 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 278249 | 596 | SH |  | SOLE |  | 0 | 0 | 596 |
| HOME DEPOT INC | COM | 437076102 |  | 237774 | 691 | SH |  | SOLE |  | 0 | 0 | 691 |
| HONEYWELL INTL INC | COM | 438516106 |  | 555422 | 2847 | SH |  | SOLE |  | 0 | 0 | 2847 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 1071405 | 4350 | SH |  | SOLE |  | 0 | 0 | 4350 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 618191 | 2087 | SH |  | SOLE |  | 0 | 0 | 2087 |
| INTUIT | COM | 461202103 |  | 351083 | 530 | SH |  | SOLE |  | 0 | 0 | 530 |
| INVESCO ACTIVELY MANAGED EXC | TOTAL RETURN | 46090A804 |  | 742740 | 15663 | SH |  | SOLE |  | 0 | 0 | 15663 |
| INVESCO ACTVELY MNGD ETC FD | OPTIMUM YIELD | 46090F100 |  | 1117028 | 84304 | SH |  | SOLE |  | 0 | 0 | 84304 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 264972 | 431 | SH |  | SOLE |  | 0 | 0 | 431 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 501538 | 2225 | SH |  | SOLE |  | 0 | 0 | 2225 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 253300 | 2055 | SH |  | SOLE |  | 0 | 0 | 2055 |
| J P MORGAN EXCHANGE TRADED F | ACTIVE GROWTH | 46654Q609 |  | 418343 | 4508 | SH |  | SOLE |  | 0 | 0 | 4508 |
| J P MORGAN EXCHANGE TRADED F | ACTIVE VALUE ETF | 46641Q167 |  | 845938 | 11795 | SH |  | SOLE |  | 0 | 0 | 11795 |
| J P MORGAN EXCHANGE TRADED F | CORE PLUS BD ETF | 46641Q670 |  | 919348 | 19416 | SH |  | SOLE |  | 0 | 0 | 19416 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 309096 | 5400 | SH |  | SOLE |  | 0 | 0 | 5400 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 832054 | 16334 | SH |  | SOLE |  | 0 | 0 | 16334 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 201075 | 1518 | SH |  | SOLE |  | 0 | 0 | 1518 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1144227 | 5529 | SH |  | SOLE |  | 0 | 0 | 5529 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 947168 | 2940 | SH |  | SOLE |  | 0 | 0 | 2940 |
| KEYCORP | COM | 493267108 |  | 281117 | 13620 | SH |  | SOLE |  | 0 | 0 | 13620 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 254448 | 9256 | SH |  | SOLE |  | 0 | 0 | 9256 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 3285116 | 19191 | SH |  | SOLE |  | 0 | 0 | 19191 |
| LAMAR ADVERTISING CO NEW | CL A | 512816109 |  | 696190 | 5500 | SH |  | SOLE |  | 0 | 0 | 5500 |
| LINDE PLC | SHS | G54950103 |  | 1459533 | 3423 | SH |  | SOLE |  | 0 | 0 | 3423 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 477383 | 7009 | SH |  | SOLE |  | 0 | 0 | 7009 |
| MCDONALDS CORP | COM | 580135101 |  | 780580 | 2554 | SH |  | SOLE |  | 0 | 0 | 2554 |
| MERCK  CO INC | COM | 58933Y105 |  | 228625 | 2172 | SH |  | SOLE |  | 0 | 0 | 2172 |
| META PLATFORMS INC | CL A | 30303M102 |  | 983535 | 1490 | SH |  | SOLE |  | 0 | 0 | 1490 |
| METLIFE INC | COM | 59156R108 |  | 601918 | 7625 | SH |  | SOLE |  | 0 | 0 | 7625 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 328605 | 5157 | SH |  | SOLE |  | 0 | 0 | 5157 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 287979 | 1009 | SH |  | SOLE |  | 0 | 0 | 1009 |
| MICROSOFT CORP | COM | 594918104 |  | 1723135 | 3563 | SH |  | SOLE |  | 0 | 0 | 3563 |
| NETFLIX INC | COM | 64110L106 |  | 640100 | 6827 | SH |  | SOLE |  | 0 | 0 | 6827 |
| NEW YORK LIFE INVTS ACTIVE E | NYLI MACKAY MUN | 45409F827 |  | 1626437 | 66849 | SH |  | SOLE |  | 0 | 0 | 66849 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1545712 | 19254 | SH |  | SOLE |  | 0 | 0 | 19254 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 484679 | 850 | SH |  | SOLE |  | 0 | 0 | 850 |
| NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 |  | 231228 | 19882 | SH |  | SOLE |  | 0 | 0 | 19882 |
| NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 |  | 1200847 | 99904 | SH |  | SOLE |  | 0 | 0 | 99904 |
| NUVEEN TAXABLE MUNICPAL INM | COM | 67074C103 |  | 229290 | 14512 | SH |  | SOLE |  | 0 | 0 | 14512 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 5398063 | 28944 | SH |  | SOLE |  | 0 | 0 | 28944 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 227924 | 2609 | SH |  | SOLE |  | 0 | 0 | 2609 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 216374 | 246 | SH |  | SOLE |  | 0 | 0 | 246 |
| PAYCHEX INC | COM | 704326107 |  | 625741 | 5578 | SH |  | SOLE |  | 0 | 0 | 5578 |
| PEPSICO INC | COM | 713448108 |  | 952704 | 6638 | SH |  | SOLE |  | 0 | 0 | 6638 |
| PFIZER INC | COM | 717081103 |  | 368520 | 14800 | SH |  | SOLE |  | 0 | 0 | 14800 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 341813 | 2131 | SH |  | SOLE |  | 0 | 0 | 2131 |
| PHILLIPS 66 | COM | 718546104 |  | 644467 | 4994 | SH |  | SOLE |  | 0 | 0 | 4994 |
| PIMCO ETF TR | INTER MUN BD ACT | 72201R866 |  | 1337556 | 25521 | SH |  | SOLE |  | 0 | 0 | 25521 |
| PIMCO ETF TR | SHTRM MUN BD ACT | 72201R874 |  | 763107 | 15132 | SH |  | SOLE |  | 0 | 0 | 15132 |
| PINNACLE WEST CAP CORP | COM | 723484101 |  | 762466 | 8596 | SH |  | SOLE |  | 0 | 0 | 8596 |
| PPL CORP | COM | 69351T106 |  | 245140 | 7000 | SH |  | SOLE |  | 0 | 0 | 7000 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 914032 | 6378 | SH |  | SOLE |  | 0 | 0 | 6378 |
| PROGRESSIVE CORP | COM | 743315103 |  | 610062 | 2679 | SH |  | SOLE |  | 0 | 0 | 2679 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 300463 | 675 | SH |  | SOLE |  | 0 | 0 | 675 |
| RTX CORPORATION | COM | 75513E101 |  | 1617631 | 8820 | SH |  | SOLE |  | 0 | 0 | 8820 |
| SALESFORCE INC | COM | 79466L302 |  | 653533 | 2467 | SH |  | SOLE |  | 0 | 0 | 2467 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 439205 | 4396 | SH |  | SOLE |  | 0 | 0 | 4396 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL INTL | 808524755 |  | 5965321 | 131947 | SH |  | SOLE |  | 0 | 0 | 131947 |
| SCHWAB STRATEGIC TR | FUNDAMENTAL US L | 808524771 |  | 1139229 | 41868 | SH |  | SOLE |  | 0 | 0 | 41868 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 820873 | 33684 | SH |  | SOLE |  | 0 | 0 | 33684 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 320901 | 2073 | SH |  | SOLE |  | 0 | 0 | 2073 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 617344 | 4288 | SH |  | SOLE |  | 0 | 0 | 4288 |
| SNAP ON INC | COM | 833034101 |  | 238119 | 691 | SH |  | SOLE |  | 0 | 0 | 691 |
| SOUTHERN CO | COM | 842587107 |  | 957020 | 10975 | SH |  | SOLE |  | 0 | 0 | 10975 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 784435 | 1150 | SH |  | SOLE |  | 0 | 0 | 1150 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A409 |  | 2814106 | 26374 | SH |  | SOLE |  | 0 | 0 | 26374 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A284 |  | 702835 | 28181 | SH |  | SOLE |  | 0 | 0 | 28181 |
| STARBUCKS CORP | COM | 855244109 |  | 351024 | 4168 | SH |  | SOLE |  | 0 | 0 | 4168 |
| STRYKER CORPORATION | COM | 863667101 |  | 520528 | 1481 | SH |  | SOLE |  | 0 | 0 | 1481 |
| TESLA INC | COM | 88160R101 |  | 1256968 | 2795 | SH |  | SOLE |  | 0 | 0 | 2795 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 209761 | 362 | SH |  | SOLE |  | 0 | 0 | 362 |
| T-MOBILE US INC | COM | 872590104 |  | 525062 | 2586 | SH |  | SOLE |  | 0 | 0 | 2586 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 211111 | 4290 | SH |  | SOLE |  | 0 | 0 | 4290 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 367532 | 4498 | SH |  | SOLE |  | 0 | 0 | 4498 |
| UNILEVER PLC | SPON ADR NEW | 904767803 |  | 255060 | 3900 | SH |  | SOLE |  | 0 | 0 | 3900 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 1862345 | 23913 | SH |  | SOLE |  | 0 | 0 | 23913 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 5017355 | 10284 | SH |  | SOLE |  | 0 | 0 | 10284 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1089409 | 3754 | SH |  | SOLE |  | 0 | 0 | 3754 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 266337 | 425 | SH |  | SOLE |  | 0 | 0 | 425 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1055048 | 4090 | SH |  | SOLE |  | 0 | 0 | 4090 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 5555897 | 29090 | SH |  | SOLE |  | 0 | 0 | 29090 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 2350404 | 46737 | SH |  | SOLE |  | 0 | 0 | 46737 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 1958000 | 33339 | SH |  | SOLE |  | 0 | 0 | 33339 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 2237770 | 28067 | SH |  | SOLE |  | 0 | 0 | 28067 |
| VANGUARD SCOTTSDALE FDS | VNG RUS2000GRW | 92206C623 |  | 398887 | 1690 | SH |  | SOLE |  | 0 | 0 | 1690 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 2516947 | 17537 | SH |  | SOLE |  | 0 | 0 | 17537 |
| VANGUARD WHITEHALL FDS | INTL HIGH ETF | 921946794 |  | 1926900 | 21410 | SH |  | SOLE |  | 0 | 0 | 21410 |
| VICTORY PORTFOLIOS II | VICTORYSHARES WE | 92647P126 |  | 2684976 | 56502 | SH |  | SOLE |  | 0 | 0 | 56502 |
| VISA INC | COM CL A | 92826C839 |  | 2137929 | 6096 | SH |  | SOLE |  | 0 | 0 | 6096 |
| WALMART INC | COM | 931142103 |  | 961914 | 8634 | SH |  | SOLE |  | 0 | 0 | 8634 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 286502 | 1304 | SH |  | SOLE |  | 0 | 0 | 1304 |
| WATERS CORP | COM | 941848103 |  | 486943 | 1282 | SH |  | SOLE |  | 0 | 0 | 1282 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 4188595 | 44942 | SH |  | SOLE |  | 0 | 0 | 44942 |
| WISDOMTREE TR | US LARGECAP DIVD | 97717W307 |  | 240018 | 2725 | SH |  | SOLE |  | 0 | 0 | 2725 |
| WW GRAINGER INC | COM | 384802104 |  | 1107937 | 1098 | SH |  | SOLE |  | 0 | 0 | 1098 |

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