# EDGAR Filing Document

**Accession Number:** 0001840945
**File Stem:** 0001172661-23-000696
**Filing Date:** 2023-2
**Character Count:** 20104
**Document Hash:** 3a63e239f3ee644e3a3509d874b5ee24
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-23-000696.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001172661-23-000696

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Galvin, Gaustad & Stein, LLC
- **CENTRAL INDEX KEY:** 0001840945
- **IRS NUMBER:** 272327502
- **STATE OF INCORPORATION:** AZ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20555
- **FILM NUMBER:** 23615767

**BUSINESS ADDRESS:**
- **STREET 1:** 7377 E. DOUBLETREE RANCH ROAD
- **STREET 2:** SUITE 250
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85258
- **BUSINESS PHONE:** (480) 776-1441

**MAIL ADDRESS:**
- **STREET 1:** 7377 E. DOUBLETREE RANCH ROAD
- **STREET 2:** SUITE 250
- **CITY:** SCOTTSDALE
- **STATE:** AZ
- **ZIP:** 85258

### 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:** Galvin Gaustad  Stein LLC<br>**Address:** 7377 E. Doubletree Ranch Road<br>Suite 250<br>Scottsdale, AZ 85258

**Form 13F File Number:** 028-20555

**CRD Number (if applicable):** 000153410

**SEC File Number (if applicable):** 801-71464

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:** Kim Jamieson<br>**Title:** Chief Compliance Officer<br>**Phone:** 480-776-1441

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

/s/ Kim Jamieson  Scottsdale, AZ  02-13-2023<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:** 162

**Form 13F Information Table Value Total:** $993070170

      (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 |  | 8566131 | 71432 | SH |  | SOLE |  | 0 | 0 | 71432 |
| ABBVIE INC | COM | 00287Y109 |  | 18148810 | 112300 | SH |  | SOLE |  | 0 | 0 | 112300 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 4788419 | 54272 | SH |  | SOLE |  | 0 | 0 | 54272 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 11666472 | 131483 | SH |  | SOLE |  | 0 | 0 | 131483 |
| AMAZON COM INC | COM | 023135106 |  | 21686532 | 258173 | SH |  | SOLE |  | 0 | 0 | 258173 |
| AMGEN INC | COM | 031162100 |  | 486672 | 1853 | SH |  | SOLE |  | 0 | 0 | 1853 |
| APPLE INC | COM | 037833100 |  | 17104202 | 131642 | SH |  | SOLE |  | 0 | 0 | 131642 |
| AUTOZONE INC | COM | 053332102 |  | 18449493 | 7481 | SH |  | SOLE |  | 0 | 0 | 7481 |
| BANK AMERICA CORP | COM | 060505104 |  | 237311 | 7165 | SH |  | SOLE |  | 0 | 0 | 7165 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 22601008 | 496507 | SH |  | SOLE |  | 0 | 0 | 496507 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 468711 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1769685 | 5729 | SH |  | SOLE |  | 0 | 0 | 5729 |
| BK OF AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 1151880 | 993 | SH |  | SOLE |  | 0 | 0 | 993 |
| BLACKROCK INC | COM | 09247X101 |  | 879518 | 1241 | SH |  | SOLE |  | 0 | 0 | 1241 |
| BLACKSTONE INC | COM | 09260D107 |  | 557929 | 7520 | SH |  | SOLE |  | 0 | 0 | 7520 |
| BOK FINL CORP | COM NEW | 05561Q201 |  | 1122489 | 10815 | SH |  | SOLE |  | 0 | 0 | 10815 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 714031 | 17860 | SH |  | SOLE |  | 0 | 0 | 17860 |
| BROWN FORMAN CORP | CL B | 115637209 |  | 16130313 | 245589 | SH |  | SOLE |  | 0 | 0 | 245589 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1311706 | 7308 | SH |  | SOLE |  | 0 | 0 | 7308 |
| CISCO SYS INC | COM | 17275R102 |  | 6653110 | 139654 | SH |  | SOLE |  | 0 | 0 | 139654 |
| CITIGROUP INC | COM NEW | 172967424 |  | 200686 | 4437 | SH |  | SOLE |  | 0 | 0 | 4437 |
| COCA COLA CO | COM | 191216100 |  | 26121851 | 410656 | SH |  | SOLE |  | 0 | 0 | 410656 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 15638720 | 273452 | SH |  | SOLE |  | 0 | 0 | 273452 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 423054 | 3585 | SH |  | SOLE |  | 0 | 0 | 3585 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 534071 | 6195 | SH |  | SOLE |  | 0 | 0 | 6195 |
| COPART INC | COM | 217204106 |  | 15331798 | 251795 | SH |  | SOLE |  | 0 | 0 | 251795 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 17243972 | 37774 | SH |  | SOLE |  | 0 | 0 | 37774 |
| DANAHER CORPORATION | COM | 235851102 |  | 465798 | 1755 | SH |  | SOLE |  | 0 | 0 | 1755 |
| DEERE  CO | COM | 244199105 |  | 344286 | 803 | SH |  | SOLE |  | 0 | 0 | 803 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 239897 | 3900 | SH |  | SOLE |  | 0 | 0 | 3900 |
| DIREXION SHS ETF TR | DLY S BR 1X | 25460E869 |  | 1420347 | 86030 | SH |  | SOLE |  | 0 | 0 | 86030 |
| DISCOVER FINL SVCS | COM | 254709108 |  | 1366587 | 13969 | SH |  | SOLE |  | 0 | 0 | 13969 |
| DISNEY WALT CO | COM | 254687106 |  | 21958159 | 252741 | SH |  | SOLE |  | 0 | 0 | 252741 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 211036 | 857 | SH |  | SOLE |  | 0 | 0 | 857 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 19263851 | 157668 | SH |  | SOLE |  | 0 | 0 | 157668 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 725231 | 30068 | SH |  | SOLE |  | 0 | 0 | 30068 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 21872583 | 198301 | SH |  | SOLE |  | 0 | 0 | 198301 |
| F N B CORP | COM | 302520101 |  | 132636 | 10164 | SH |  | SOLE |  | 0 | 0 | 10164 |
| FIDELITY COVINGTON TRUST | MSCI FINLS IDX | 316092501 |  | 5467180 | 114042 | SH |  | SOLE |  | 0 | 0 | 114042 |
| FIDELITY COVINGTON TRUST | MSCI ENERGY IDX | 316092402 |  | 721431 | 30261 | SH |  | SOLE |  | 0 | 0 | 30261 |
| FIDELITY COVINGTON TRUST | MSCI RL EST ETF | 316092857 |  | 2292831 | 92416 | SH |  | SOLE |  | 0 | 0 | 92416 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 779562 | 3142 | SH |  | SOLE |  | 0 | 0 | 3142 |
| HOME DEPOT INC | COM | 437076102 |  | 17685275 | 55991 | SH |  | SOLE |  | 0 | 0 | 55991 |
| HONEYWELL INTL INC | COM | 438516106 |  | 6182918 | 28852 | SH |  | SOLE |  | 0 | 0 | 28852 |
| INTEL CORP | COM | 458140100 |  | 224470 | 8493 | SH |  | SOLE |  | 0 | 0 | 8493 |
| INVESCO ACTIVELY MANAGED ETF | ULTRA SHRT DUR | 46090A887 |  | 214699 | 4341 | SH |  | SOLE |  | 0 | 0 | 4341 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 254642 | 3985 | SH |  | SOLE |  | 0 | 0 | 3985 |
| INVESCO EXCHANGE TRADED FD T | S QUALITY | 46137V241 |  | 227957 | 5181 | SH |  | SOLE |  | 0 | 0 | 5181 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 237806 | 6875 | SH |  | SOLE |  | 0 | 0 | 6875 |
| ISHARES INC | MSCI EMERG MRKT | 464286533 |  | 202383 | 3815 | SH |  | SOLE |  | 0 | 0 | 3815 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 11102032 | 237731 | SH |  | SOLE |  | 0 | 0 | 237731 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 288695 | 4398 | SH |  | SOLE |  | 0 | 0 | 4398 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2170089 | 8971 | SH |  | SOLE |  | 0 | 0 | 8971 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 320129 | 5472 | SH |  | SOLE |  | 0 | 0 | 5472 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 18904680 | 194914 | SH |  | SOLE |  | 0 | 0 | 194914 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 242992 | 1675 | SH |  | SOLE |  | 0 | 0 | 1675 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 547498 | 6456 | SH |  | SOLE |  | 0 | 0 | 6456 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 215429 | 2045 | SH |  | SOLE |  | 0 | 0 | 2045 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2748866 | 7155 | SH |  | SOLE |  | 0 | 0 | 7155 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 227037 | 3366 | SH |  | SOLE |  | 0 | 0 | 3366 |
| ISHARES TR | MSCI EAFE MIN VL | 46429B689 |  | 313934 | 4937 | SH |  | SOLE |  | 0 | 0 | 4937 |
| ISHARES TR | EAFE SML CP ETF | 464288273 |  | 347926 | 6160 | SH |  | SOLE |  | 0 | 0 | 6160 |
| ISHARES TR | CORE DIVID ETF | 46435U861 |  | 471603 | 12573 | SH |  | SOLE |  | 0 | 0 | 12573 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 4193359 | 39740 | SH |  | SOLE |  | 0 | 0 | 39740 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 24624994 | 399497 | SH |  | SOLE |  | 0 | 0 | 399497 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 14646359 | 151056 | SH |  | SOLE |  | 0 | 0 | 151056 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 889488 | 4152 | SH |  | SOLE |  | 0 | 0 | 4152 |
| ISHARES TR | CORE TOTAL USD | 46434V613 |  | 3382045 | 75274 | SH |  | SOLE |  | 0 | 0 | 75274 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 274518 | 1280 | SH |  | SOLE |  | 0 | 0 | 1280 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 12700672 | 254931 | SH |  | SOLE |  | 0 | 0 | 254931 |
| ISHARES TR | MBS ETF | 464288588 |  | 20506830 | 221098 | SH |  | SOLE |  | 0 | 0 | 221098 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 15703060 | 165924 | SH |  | SOLE |  | 0 | 0 | 165924 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 2905347 | 27864 | SH |  | SOLE |  | 0 | 0 | 27864 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 619646 | 2943 | SH |  | SOLE |  | 0 | 0 | 2943 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 8604280 | 173789 | SH |  | SOLE |  | 0 | 0 | 173789 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 578887 | 3817 | SH |  | SOLE |  | 0 | 0 | 3817 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 943619 | 23077 | SH |  | SOLE |  | 0 | 0 | 23077 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 203385 | 1467 | SH |  | SOLE |  | 0 | 0 | 1467 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 4578324 | 90597 | SH |  | SOLE |  | 0 | 0 | 90597 |
| J P MORGAN EXCHANGE TRADED F | HIGH YLD RESRCH | 46641Q878 |  | 3487633 | 79554 | SH |  | SOLE |  | 0 | 0 | 79554 |
| J P MORGAN EXCHANGE TRADED F | DIV RTN INT EQ | 46641Q209 |  | 1297705 | 26333 | SH |  | SOLE |  | 0 | 0 | 26333 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 2525682 | 50829 | SH |  | SOLE |  | 0 | 0 | 50829 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 10924812 | 217930 | SH |  | SOLE |  | 0 | 0 | 217930 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 953601 | 17500 | SH |  | SOLE |  | 0 | 0 | 17500 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 5361415 | 30350 | SH |  | SOLE |  | 0 | 0 | 30350 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 29666049 | 221223 | SH |  | SOLE |  | 0 | 0 | 221223 |
| LILLY ELI  CO | COM | 532457108 |  | 1352423 | 3697 | SH |  | SOLE |  | 0 | 0 | 3697 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 286543 | 589 | SH |  | SOLE |  | 0 | 0 | 589 |
| LOWES COS INC | COM | 548661107 |  | 1545797 | 7758 | SH |  | SOLE |  | 0 | 0 | 7758 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 12667149 | 36428 | SH |  | SOLE |  | 0 | 0 | 36428 |
| MCKESSON CORP | COM | 58155Q103 |  | 458322 | 1222 | SH |  | SOLE |  | 0 | 0 | 1222 |
| MERCK  CO INC | COM | 58933Y105 |  | 548839 | 4947 | SH |  | SOLE |  | 0 | 0 | 4947 |
| META PLATFORMS INC | CL A | 30303M102 |  | 295916 | 2459 | SH |  | SOLE |  | 0 | 0 | 2459 |
| MICROSOFT CORP | COM | 594918104 |  | 26854041 | 111976 | SH |  | SOLE |  | 0 | 0 | 111976 |
| NEW YORK CMNTY CAP TR V | UNIT 05/07/2051 | 64944P307 |  | 615128 | 14180 | SH |  | SOLE |  | 0 | 0 | 14180 |
| NEXTERA ENERGY PARTNERS LP | COM UNIT PART IN | 65341B106 |  | 271907 | 3879 | SH |  | SOLE |  | 0 | 0 | 3879 |
| NIKE INC | CL B | 654106103 |  | 21700704 | 185460 | SH |  | SOLE |  | 0 | 0 | 185460 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 238957 | 1635 | SH |  | SOLE |  | 0 | 0 | 1635 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1047425 | 10349 | SH |  | SOLE |  | 0 | 0 | 10349 |
| PPL CORP | COM | 69351T106 |  | 19947297 | 682659 | SH |  | SOLE |  | 0 | 0 | 682659 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 13615254 | 89834 | SH |  | SOLE |  | 0 | 0 | 89834 |
| PROSHARES TR | ULTRASHRT S | 74347G416 |  | 322890 | 7024 | SH |  | SOLE |  | 0 | 0 | 7024 |
| QUALCOMM INC | COM | 747525103 |  | 388532 | 3534 | SH |  | SOLE |  | 0 | 0 | 3534 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 25964918 | 165974 | SH |  | SOLE |  | 0 | 0 | 165974 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 553668 | 5486 | SH |  | SOLE |  | 0 | 0 | 5486 |
| ROYAL BK CDA SUSTAINABL | COM | 780087102 |  | 216058 | 2298 | SH |  | SOLE |  | 0 | 0 | 2298 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 3466550 | 71860 | SH |  | SOLE |  | 0 | 0 | 71860 |
| SCHWAB STRATEGIC TR | US REIT ETF | 808524847 |  | 269731 | 13983 | SH |  | SOLE |  | 0 | 0 | 13983 |
| SCHWAB STRATEGIC TR | INT-TRM U.S TRES | 808524854 |  | 13282362 | 269802 | SH |  | SOLE |  | 0 | 0 | 269802 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 1068342 | 14143 | SH |  | SOLE |  | 0 | 0 | 14143 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 1536159 | 29661 | SH |  | SOLE |  | 0 | 0 | 29661 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 374649 | 2901 | SH |  | SOLE |  | 0 | 0 | 2901 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 766522 | 6160 | SH |  | SOLE |  | 0 | 0 | 6160 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 6261831 | 183094 | SH |  | SOLE |  | 0 | 0 | 183094 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 688476 | 7871 | SH |  | SOLE |  | 0 | 0 | 7871 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 213149 | 1569 | SH |  | SOLE |  | 0 | 0 | 1569 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1026442 | 2684 | SH |  | SOLE |  | 0 | 0 | 2684 |
| SPDR SER TR | PORTFOLIO SHORT | 78464A474 |  | 4494529 | 152979 | SH |  | SOLE |  | 0 | 0 | 152979 |
| SPDR SER TR | BLOOMBERG INVT | 78468R200 |  | 1227807 | 40402 | SH |  | SOLE |  | 0 | 0 | 40402 |
| STARBUCKS CORP | COM | 855244109 |  | 23090860 | 232771 | SH |  | SOLE |  | 0 | 0 | 232771 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1376806 | 18483 | SH |  | SOLE |  | 0 | 0 | 18483 |
| TESLA INC | COM | 88160R101 |  | 273585 | 2221 | SH |  | SOLE |  | 0 | 0 | 2221 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 672655 | 1221 | SH |  | SOLE |  | 0 | 0 | 1221 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 15254822 | 354516 | SH |  | SOLE |  | 0 | 0 | 354516 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 445758 | 18025 | SH |  | SOLE |  | 0 | 0 | 18025 |
| UNION PAC CORP | COM | 907818108 |  | 19115537 | 92314 | SH |  | SOLE |  | 0 | 0 | 92314 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 10482851 | 60302 | SH |  | SOLE |  | 0 | 0 | 60302 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 33845545 | 63838 | SH |  | SOLE |  | 0 | 0 | 63838 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 265772 | 2095 | SH |  | SOLE |  | 0 | 0 | 2095 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 14246908 | 189252 | SH |  | SOLE |  | 0 | 0 | 189252 |
| VANGUARD BD INDEX FDS | VANGUARD ULTRA | 92203C303 |  | 985186 | 20106 | SH |  | SOLE |  | 0 | 0 | 20106 |
| VANGUARD BD INDEX FDS | INTERMED TERM | 921937819 |  | 5891030 | 79266 | SH |  | SOLE |  | 0 | 0 | 79266 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 4257080 | 59258 | SH |  | SOLE |  | 0 | 0 | 59258 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1761327 | 9212 | SH |  | SOLE |  | 0 | 0 | 9212 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 249978 | 1173 | SH |  | SOLE |  | 0 | 0 | 1173 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 7663592 | 92915 | SH |  | SOLE |  | 0 | 0 | 92915 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 859743 | 5414 | SH |  | SOLE |  | 0 | 0 | 5414 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 5405930 | 29454 | SH |  | SOLE |  | 0 | 0 | 29454 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 705757 | 2009 | SH |  | SOLE |  | 0 | 0 | 2009 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 867487 | 6180 | SH |  | SOLE |  | 0 | 0 | 6180 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 551300 | 2705 | SH |  | SOLE |  | 0 | 0 | 2705 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 210191 | 1554 | SH |  | SOLE |  | 0 | 0 | 1554 |
| VANGUARD INTL EQUITY INDEX F | FTSE SMCAP ETF | 922042718 |  | 17812264 | 173254 | SH |  | SOLE |  | 0 | 0 | 173254 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 9357643 | 240063 | SH |  | SOLE |  | 0 | 0 | 240063 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 739453 | 14748 | SH |  | SOLE |  | 0 | 0 | 14748 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 3463551 | 69985 | SH |  | SOLE |  | 0 | 0 | 69985 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 9190277 | 122227 | SH |  | SOLE |  | 0 | 0 | 122227 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 4224810 | 55803 | SH |  | SOLE |  | 0 | 0 | 55803 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 11430699 | 147474 | SH |  | SOLE |  | 0 | 0 | 147474 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1096803 | 7223 | SH |  | SOLE |  | 0 | 0 | 7223 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 20420136 | 486541 | SH |  | SOLE |  | 0 | 0 | 486541 |
| VANGUARD WHITEHALL FDS | INTL DVD ETF | 921946810 |  | 431939 | 6203 | SH |  | SOLE |  | 0 | 0 | 6203 |
| VANGUARD WORLD FDS | FINANCIALS ETF | 92204A405 |  | 532389 | 6435 | SH |  | SOLE |  | 0 | 0 | 6435 |
| VANGUARD WORLD FDS | HEALTH CAR ETF | 92204A504 |  | 263429 | 1062 | SH |  | SOLE |  | 0 | 0 | 1062 |
| VANGUARD WORLD FDS | INF TECH ETF | 92204A702 |  | 405331 | 1269 | SH |  | SOLE |  | 0 | 0 | 1269 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 323065 | 8200 | SH |  | SOLE |  | 0 | 0 | 8200 |
| VISA INC | COM CL A | 92826C839 |  | 8853438 | 42614 | SH |  | SOLE |  | 0 | 0 | 42614 |
| WALMART INC | COM | 931142103 |  | 540007 | 3809 | SH |  | SOLE |  | 0 | 0 | 3809 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 21808052 | 139011 | SH |  | SOLE |  | 0 | 0 | 139011 |
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 |  | 15266059 | 12883 | SH |  | SOLE |  | 0 | 0 | 12883 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 344052 | 5700 | SH |  | SOLE |  | 0 | 0 | 5700 |
| ZOOM VIDEO COMMUNICATIONS IN | CL A | 98980L101 |  | 14565997 | 215028 | SH |  | SOLE |  | 0 | 0 | 215028 |

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