# EDGAR Filing Document

**Accession Number:** 0001080369
**File Stem:** 0001172661-26-000567
**Filing Date:** 2026-2
**Character Count:** 26164
**Document Hash:** d9b28c1b7008797867c5ecfe2eb73cc8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-000567.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001172661-26-000567

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GW HENSSLER & ASSOCIATES LTD
- **CENTRAL INDEX KEY:** 0001080369

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-07746
- **FILM NUMBER:** 26615032

**BUSINESS ADDRESS:**
- **STREET 1:** 3735 CHEROKEE STREET
- **CITY:** KENNESAW
- **STATE:** GA
- **ZIP:** 30144
- **BUSINESS PHONE:** 770-429-9166

**MAIL ADDRESS:**
- **STREET 1:** 3735 CHEROKEE STREET
- **CITY:** KENNESAW
- **STATE:** GA
- **ZIP:** 30144

### 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:** GW HENSSLER  ASSOCIATES LTD<br>**Address:** 3735 CHEROKEE STREET<br>KENNESAW, GA 30144

**Form 13F File Number:** 028-07746

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:** Christopher E. Reeves<br>**Title:** Chief Compliance Office<br>**Phone:** 678-797-3752

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

/s/ Christopher E. Reeves  Kennesaw, GA  02-10-2026<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:** 231

**Form 13F Information Table Value Total:** $2078223323

      (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 |  | 421704 | 2634 | SH |  | SOLE |  | 0 | 0 | 2634 |
| ABBOTT LABS | COM | 002824100 |  | 475601 | 3796 | SH |  | SOLE |  | 0 | 0 | 3796 |
| ABBVIE INC | COM | 00287Y109 |  | 366955 | 1606 | SH |  | SOLE |  | 0 | 0 | 1606 |
| ABERCROMBIE  FITCH CO | CL A | 002896207 |  | 363765 | 2890 | SH |  | SOLE |  | 2110 | 0 | 780 |
| AFLAC INC | COM | 001055102 |  | 1623481 | 14723 | SH |  | SOLE |  | 0 | 0 | 14723 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 23637000 | 139427 | SH |  | SOLE |  | 699 | 0 | 138728 |
| AIRBNB INC | COM CL A | 009066101 |  | 16356449 | 120516 | SH |  | SOLE |  | 0 | 0 | 120516 |
| ALLSTATE CORP | COM | 020002101 |  | 24863169 | 119448 | SH |  | SOLE |  | 0 | 0 | 119448 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 2046543 | 6522 | SH |  | SOLE |  | 0 | 0 | 6522 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 62344208 | 199183 | SH |  | SOLE |  | 0 | 0 | 199183 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 18356779 | 318362 | SH |  | SOLE |  | 0 | 0 | 318362 |
| AMAZON COM INC | COM | 023135106 |  | 35624987 | 154341 | SH |  | SOLE |  | 0 | 0 | 154341 |
| AMDOCS LTD | SHS | G02602103 |  | 8277602 | 102815 | SH |  | SOLE |  | 985 | 0 | 101830 |
| AMERICAN CENTY ETF TR | AVANTIS EMGMKT | 025072604 |  | 16586339 | 215351 | SH |  | SOLE |  | 0 | 0 | 215351 |
| AMERICAN CENTY ETF TR | INTL EQT ETF | 025072703 |  | 51792654 | 629162 | SH |  | SOLE |  | 0 | 0 | 629162 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 35127793 | 304638 | SH |  | SOLE |  | 0 | 0 | 304638 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 243058 | 657 | SH |  | SOLE |  | 0 | 0 | 657 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 14350359 | 81736 | SH |  | SOLE |  | 0 | 0 | 81736 |
| AMGEN INC | COM | 031162100 |  | 18999930 | 58049 | SH |  | SOLE |  | 0 | 0 | 58049 |
| ANALOG DEVICES INC | COM | 032654105 |  | 16192139 | 59706 | SH |  | SOLE |  | 0 | 0 | 59706 |
| APPLE INC | COM | 037833100 |  | 90328670 | 332262 | SH |  | SOLE |  | 0 | 0 | 332262 |
| APPLIED MATLS INC | COM | 038222105 |  | 232062 | 903 | SH |  | SOLE |  | 0 | 0 | 903 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 35075855 | 267693 | SH |  | SOLE |  | 0 | 0 | 267693 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 17074423 | 15959 | SH |  | SOLE |  | 0 | 0 | 15959 |
| AT INC | COM | 00206R102 |  | 274810 | 11063 | SH |  | SOLE |  | 0 | 0 | 11063 |
| AUTODESK INC | COM | 052769106 |  | 12470627 | 42129 | SH |  | SOLE |  | 0 | 0 | 42129 |
| AVERY DENNISON CORP | COM | 053611109 |  | 281914 | 1550 | SH |  | SOLE |  | 722 | 0 | 828 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 271581 | 2536 | SH |  | SOLE |  | 1843 | 0 | 693 |
| BANK AMERICA CORP | COM | 060505104 |  | 344905 | 6271 | SH |  | SOLE |  | 0 | 0 | 6271 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 280680 | 6445 | SH |  | SOLE |  | 0 | 0 | 6445 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 450437 | 2321 | SH |  | SOLE |  | 0 | 0 | 2321 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1802503 | 3586 | SH |  | SOLE |  | 0 | 0 | 3586 |
| BLACK HILLS CORP | COM | 092113109 |  | 209510 | 3018 | SH |  | SOLE |  | 2031 | 0 | 987 |
| BLACKROCK ETF TRUST | ISHARES US THEMA | 09290C806 |  | 2503595 | 64927 | SH |  | SOLE |  | 0 | 0 | 64927 |
| BLACKROCK ETF TRUST | ISHARES US EQUIT | 09290C103 |  | 5865977 | 96464 | SH |  | SOLE |  | 0 | 0 | 96464 |
| BRADY CORP | CL A | 104674106 |  | 285424 | 3642 | SH |  | SOLE |  | 2571 | 0 | 1071 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 21681743 | 382934 | SH |  | SOLE |  | 0 | 0 | 382934 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 317501 | 1975 | SH |  | SOLE |  | 1314 | 0 | 661 |
| CAMBRIA ETF TR | EMRG SHAREHLDR | 132061706 |  | 371001 | 9679 | SH |  | SOLE |  | 0 | 0 | 9679 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 212129 | 2881 | SH |  | SOLE |  | 2028 | 0 | 853 |
| CARLYLE GROUP INC | COM | 14316J108 |  | 217112 | 3673 | SH |  | SOLE |  | 2285 | 0 | 1388 |
| CATERPILLAR INC | COM | 149123101 |  | 439392 | 767 | SH |  | SOLE |  | 0 | 0 | 767 |
| CHEVRON CORP NEW | COM | 166764100 |  | 602782 | 3955 | SH |  | SOLE |  | 0 | 0 | 3955 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 799929 | 9540 | SH |  | SOLE |  | 0 | 0 | 9540 |
| COCA COLA CO | COM | 191216100 |  | 22736500 | 325225 | SH |  | SOLE |  | 0 | 0 | 325225 |
| COLUMBIA ETF TR II | EM CORE EX ETF | 19762B202 |  | 471330 | 12287 | SH |  | SOLE |  | 0 | 0 | 12287 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 279090 | 2810 | SH |  | SOLE |  | 0 | 0 | 2810 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 946982 | 1098 | SH |  | SOLE |  | 0 | 0 | 1098 |
| CVS HEALTH CORP | COM | 126650100 |  | 316405 | 3987 | SH |  | SOLE |  | 0 | 0 | 3987 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 234442 | 1274 | SH |  | SOLE |  | 928 | 0 | 346 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 223824 | 2159 | SH |  | SOLE |  | 1342 | 0 | 817 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 438221 | 6314 | SH |  | SOLE |  | 0 | 0 | 6314 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 912067 | 23038 | SH |  | SOLE |  | 0 | 0 | 23038 |
| DISNEY WALT CO | COM | 254687106 |  | 550241 | 4836 | SH |  | SOLE |  | 0 | 0 | 4836 |
| DNP SELECT INCOME FD INC | COM | 23325P104 |  | 316339 | 31666 | SH |  | SOLE |  | 0 | 0 | 31666 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 19739881 | 336916 | SH |  | SOLE |  | 0 | 0 | 336916 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 805337 | 6871 | SH |  | SOLE |  | 0 | 0 | 6871 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 217341 | 620 | SH |  | SOLE |  | 438 | 0 | 182 |
| ELI LILLY  CO | COM | 532457108 |  | 948943 | 883 | SH |  | SOLE |  | 0 | 0 | 883 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 11603425 | 18966 | SH |  | SOLE |  | 217 | 0 | 18749 |
| EMERSON ELEC CO | COM | 291011104 |  | 15776353 | 118869 | SH |  | SOLE |  | 0 | 0 | 118869 |
| ENBRIDGE INC | COM | 29250N105 |  | 244555 | 5113 | SH |  | SOLE |  | 0 | 0 | 5113 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 19270047 | 208483 | SH |  | SOLE |  | 0 | 0 | 208483 |
| EQUIFAX INC | COM | 294429105 |  | 1589379 | 7325 | SH |  | SOLE |  | 0 | 0 | 7325 |
| EVERCORE INC | CLASS A | 29977A105 |  | 215379 | 633 | SH |  | SOLE |  | 432 | 0 | 201 |
| EVERGY INC | COM | 30034W106 |  | 27574098 | 380385 | SH |  | SOLE |  | 0 | 0 | 380385 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 261212 | 922 | SH |  | SOLE |  | 635 | 0 | 287 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 18503814 | 153763 | SH |  | SOLE |  | 0 | 0 | 153763 |
| FIDELITY COVINGTON TRUST | ENHANCED MID | 31609A503 |  | 26421275 | 726258 | SH |  | SOLE |  | 0 | 0 | 726258 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 26600013 | 568255 | SH |  | SOLE |  | 3302 | 0 | 564953 |
| FIRST TR EXCHANGE-TRADED FD | SMID RISNG ETF | 33741X102 |  | 19561329 | 510473 | SH |  | SOLE |  | 0 | 0 | 510473 |
| FIRST TR EXCHNG TRADED FD VI | FT VEST LADDERED | 33740U703 |  | 112610240 | 3987615 | SH |  | SOLE |  | 0 | 0 | 3987615 |
| FLUOR CORP NEW | COM | 343412102 |  | 254742 | 6428 | SH |  | SOLE |  | 4214 | 0 | 2214 |
| FORTIVE CORP | COM | 34959J108 |  | 246955 | 4473 | SH |  | SOLE |  | 3154 | 0 | 1319 |
| GAMING  LEISURE PPTYS INC | COM | 36467J108 |  | 206558 | 4622 | SH |  | SOLE |  | 3329 | 0 | 1293 |
| GE AEROSPACE | COM NEW | 369604301 |  | 223322 | 725 | SH |  | SOLE |  | 0 | 0 | 725 |
| GENUINE PARTS CO | COM | 372460105 |  | 553443 | 4501 | SH |  | SOLE |  | 0 | 0 | 4501 |
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 |  | 10797141 | 252683 | SH |  | SOLE |  | 0 | 0 | 252683 |
| GRACO INC | COM | 384109104 |  | 10147480 | 123795 | SH |  | SOLE |  | 1927 | 0 | 121868 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 228625 | 4662 | SH |  | SOLE |  | 0 | 0 | 4662 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 256171 | 1859 | SH |  | SOLE |  | 1350 | 0 | 509 |
| HASBRO INC | COM | 418056107 |  | 22179901 | 270487 | SH |  | SOLE |  | 0 | 0 | 270487 |
| HERSHEY CO | COM | 427866108 |  | 9168460 | 50382 | SH |  | SOLE |  | 0 | 0 | 50382 |
| HOME DEPOT INC | COM | 437076102 |  | 10315859 | 29979 | SH |  | SOLE |  | 0 | 0 | 29979 |
| IDEXX LABS INC | COM | 45168D104 |  | 22823876 | 33737 | SH |  | SOLE |  | 167 | 0 | 33570 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 2755101 | 11186 | SH |  | SOLE |  | 0 | 0 | 11186 |
| INGREDION INC | COM | 457187102 |  | 242352 | 2198 | SH |  | SOLE |  | 1391 | 0 | 807 |
| INMODE LTD | SHS | M5425M103 |  | 192425 | 13099 | SH |  | SOLE |  | 9633 | 0 | 3466 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 36078537 | 222762 | SH |  | SOLE |  | 0 | 0 | 222762 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 464458 | 1568 | SH |  | SOLE |  | 0 | 0 | 1568 |
| INTERPARFUMS INC | COM | 458334109 |  | 6186861 | 72932 | SH |  | SOLE |  | 1426 | 0 | 71506 |
| INVESCO EXCHANGE TRADED FD T | S MIDCAP 400 | 46137V225 |  | 20221594 | 168499 | SH |  | SOLE |  | 0 | 0 | 168499 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 346341 | 1808 | SH |  | SOLE |  | 0 | 0 | 1808 |
| INVESCO EXCHANGE TRADED FD T | S MDCP MOMNTUM | 46137V464 |  | 1820443 | 13148 | SH |  | SOLE |  | 0 | 0 | 13148 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 394833 | 643 | SH |  | SOLE |  | 0 | 0 | 643 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 242468 | 985 | SH |  | SOLE |  | 0 | 0 | 985 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1472437 | 3111 | SH |  | SOLE |  | 0 | 0 | 3111 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 647915 | 6881 | SH |  | SOLE |  | 0 | 0 | 6881 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 23841217 | 181178 | SH |  | SOLE |  | 0 | 0 | 181178 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4242437 | 6194 | SH |  | SOLE |  | 0 | 0 | 6194 |
| ISHARES TR | MSCI USA QUALITY | 46436E403 |  | 4088583 | 60038 | SH |  | SOLE |  | 0 | 0 | 60038 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 279352 | 3373 | SH |  | SOLE |  | 0 | 0 | 3373 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 206465 | 2150 | SH |  | SOLE |  | 0 | 0 | 2150 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 24898858 | 125359 | SH |  | SOLE |  | 0 | 0 | 125359 |
| ISHARES TR | US REGNL BKS ETF | 464288778 |  | 10288211 | 186550 | SH |  | SOLE |  | 0 | 0 | 186550 |
| ISHARES TR | SP SMCP600VL ETF | 464287879 |  | 15098722 | 132771 | SH |  | SOLE |  | 0 | 0 | 132771 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 743507 | 7444 | SH |  | SOLE |  | 0 | 0 | 7444 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 210898 | 1711 | SH |  | SOLE |  | 0 | 0 | 1711 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 512806 | 4267 | SH |  | SOLE |  | 0 | 0 | 4267 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2352206 | 35639 | SH |  | SOLE |  | 0 | 0 | 35639 |
| ISHARES TR | MORNINGSTAR GRWT | 464287119 |  | 798716 | 7677 | SH |  | SOLE |  | 0 | 0 | 7677 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 23499576 | 166498 | SH |  | SOLE |  | 0 | 0 | 166498 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 213959 | 7455 | SH |  | SOLE |  | 5247 | 0 | 2208 |
| JETBLUE AWYS CORP | COM | 477143101 |  | 61653 | 13550 | SH |  | SOLE |  | 0 | 0 | 13550 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 484884 | 2343 | SH |  | SOLE |  | 0 | 0 | 2343 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 235529 | 700 | SH |  | SOLE |  | 505 | 0 | 195 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 12975469 | 40269 | SH |  | SOLE |  | 0 | 0 | 40269 |
| KROGER CO | COM | 501044101 |  | 452356 | 7240 | SH |  | SOLE |  | 0 | 0 | 7240 |
| LANDSTAR SYS INC | COM | 515098101 |  | 334103 | 2325 | SH |  | SOLE |  | 1709 | 0 | 616 |
| LAZARD INC | COM | 52110M109 |  | 14102044 | 290405 | SH |  | SOLE |  | 0 | 0 | 290405 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 216841 | 1202 | SH |  | SOLE |  | 849 | 0 | 353 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 9069618 | 18752 | SH |  | SOLE |  | 0 | 0 | 18752 |
| LOWES COS INC | COM | 548661107 |  | 296145 | 1228 | SH |  | SOLE |  | 0 | 0 | 1228 |
| MARATHON PETE CORP | COM | 56585A102 |  | 1859349 | 11433 | SH |  | SOLE |  | 0 | 0 | 11433 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 278906 | 899 | SH |  | SOLE |  | 0 | 0 | 899 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 700619 | 1227 | SH |  | SOLE |  | 0 | 0 | 1227 |
| MATCH GROUP INC NEW | COM | 57667L107 |  | 12987919 | 402227 | SH |  | SOLE |  | 0 | 0 | 402227 |
| MATSON INC | COM | 57686G105 |  | 320860 | 2597 | SH |  | SOLE |  | 1806 | 0 | 791 |
| MCDONALDS CORP | COM | 580135101 |  | 14594772 | 47753 | SH |  | SOLE |  | 0 | 0 | 47753 |
| MCKESSON CORP | COM | 58155Q103 |  | 618611 | 754 | SH |  | SOLE |  | 0 | 0 | 754 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 18704839 | 9286 | SH |  | SOLE |  | 0 | 0 | 9286 |
| MERCK  CO INC | COM | 58933Y105 |  | 19735247 | 187490 | SH |  | SOLE |  | 0 | 0 | 187490 |
| META PLATFORMS INC | CL A | 30303M102 |  | 34454274 | 52196 | SH |  | SOLE |  | 0 | 0 | 52196 |
| MICROSOFT CORP | COM | 594918104 |  | 64156701 | 132659 | SH |  | SOLE |  | 0 | 0 | 132659 |
| MOELIS  CO | CL A | 60786M105 |  | 235985 | 3433 | SH |  | SOLE |  | 2464 | 0 | 969 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 17072032 | 96164 | SH |  | SOLE |  | 0 | 0 | 96164 |
| MUELLER INDS INC | COM | 624756102 |  | 310420 | 2704 | SH |  | SOLE |  | 1830 | 0 | 874 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 274879 | 3424 | SH |  | SOLE |  | 0 | 0 | 3424 |
| NEXTPOWER INC | CLASS A COM | 65290E101 |  | 265599 | 3049 | SH |  | SOLE |  | 1848 | 0 | 1201 |
| NIKE INC | CL B | 654106103 |  | 13947440 | 218921 | SH |  | SOLE |  | 0 | 0 | 218921 |
| NNN REIT INC | COM | 637417106 |  | 208018 | 5249 | SH |  | SOLE |  | 3694 | 0 | 1555 |
| NOKIA CORP | SPONSORED ADR | 654902204 |  | 146999 | 22720 | SH |  | SOLE |  | 13874 | 0 | 8846 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 604580 | 2094 | SH |  | SOLE |  | 0 | 0 | 2094 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 17793914 | 129063 | SH |  | SOLE |  | 0 | 0 | 129063 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 404954 | 7959 | SH |  | SOLE |  | 0 | 0 | 7959 |
| NUVEEN CHURCHILL DIRECT LEND | COM SHS | 67090S108 |  | 253487 | 19002 | SH |  | SOLE |  | 0 | 0 | 19002 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 27833323 | 149240 | SH |  | SOLE |  | 0 | 0 | 149240 |
| ONEOK INC NEW | COM | 682680103 |  | 6511200 | 88588 | SH |  | SOLE |  | 0 | 0 | 88588 |
| ORACLE CORP | COM | 68389X105 |  | 745531 | 3825 | SH |  | SOLE |  | 0 | 0 | 3825 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 250372 | 2745 | SH |  | SOLE |  | 0 | 0 | 2745 |
| OSHKOSH CORP | COM | 688239201 |  | 14220874 | 113196 | SH |  | SOLE |  | 0 | 0 | 113196 |
| OTTER TAIL CORP | COM | 689648103 |  | 232976 | 2883 | SH |  | SOLE |  | 2037 | 0 | 846 |
| PAGSEGURO DIGITAL LTD | COM CL A | G68707101 |  | 194063 | 20131 | SH |  | SOLE |  | 13752 | 0 | 6379 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 431222 | 2426 | SH |  | SOLE |  | 0 | 0 | 2426 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 9873203 | 169120 | SH |  | SOLE |  | 2374 | 0 | 166746 |
| PEPSICO INC | COM | 713448108 |  | 2801299 | 19519 | SH |  | SOLE |  | 0 | 0 | 19519 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 |  | 194414 | 13857 | SH |  | SOLE |  | 10266 | 0 | 3591 |
| PFIZER INC | COM | 717081103 |  | 215384 | 8650 | SH |  | SOLE |  | 0 | 0 | 8650 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 22378473 | 139517 | SH |  | SOLE |  | 0 | 0 | 139517 |
| PHILLIPS 66 | COM | 718546104 |  | 518741 | 4020 | SH |  | SOLE |  | 0 | 0 | 4020 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 214157 | 1026 | SH |  | SOLE |  | 752 | 0 | 274 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 462553 | 4518 | SH |  | SOLE |  | 1659 | 0 | 2859 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 19718413 | 223539 | SH |  | SOLE |  | 0 | 0 | 223539 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 543132 | 3790 | SH |  | SOLE |  | 0 | 0 | 3790 |
| PROGRESSIVE CORP | COM | 743315103 |  | 227720 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| PROSHARES TR | ULTRAPRO SHORT | 74350P675 |  | 877622 | 12812 | SH |  | SOLE |  | 0 | 0 | 12812 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 18247200 | 227238 | SH |  | SOLE |  | 0 | 0 | 227238 |
| QUALCOMM INC | COM | 747525103 |  | 27785650 | 162442 | SH |  | SOLE |  | 0 | 0 | 162442 |
| QXO INC | COM NEW | 82846H405 |  | 11208259 | 581040 | SH |  | SOLE |  | 0 | 0 | 581040 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 18865722 | 24442 | SH |  | SOLE |  | 0 | 0 | 24442 |
| RENAISSANCERE HLDGS LTD | COM | G7496G103 |  | 266821 | 949 | SH |  | SOLE |  | 673 | 0 | 276 |
| REV GROUP INC | COM | 749527107 |  | 297787 | 4897 | SH |  | SOLE |  | 3353 | 0 | 1544 |
| ROSS STORES INC | COM | 778296103 |  | 263906 | 1465 | SH |  | SOLE |  | 840 | 0 | 625 |
| ROYAL GOLD INC | COM | 780287108 |  | 203840 | 917 | SH |  | SOLE |  | 627 | 0 | 290 |
| SALESFORCE INC | COM | 79466L302 |  | 17137808 | 64693 | SH |  | SOLE |  | 0 | 0 | 64693 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 24109530 | 241312 | SH |  | SOLE |  | 0 | 0 | 241312 |
| SCHWAB STRATEGIC TR | US LCAP GR ETF | 808524300 |  | 5693894 | 174552 | SH |  | SOLE |  | 0 | 0 | 174552 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 347535 | 12670 | SH |  | SOLE |  | 0 | 0 | 12670 |
| SCHWAB STRATEGIC TR | US LCAP VA ETF | 808524409 |  | 1625078 | 54883 | SH |  | SOLE |  | 0 | 0 | 54883 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 3855359 | 158201 | SH |  | SOLE |  | 0 | 0 | 158201 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 3343156 | 124235 | SH |  | SOLE |  | 0 | 0 | 124235 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 6200652 | 138686 | SH |  | SOLE |  | 0 | 0 | 138686 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 239631 | 1548 | SH |  | SOLE |  | 0 | 0 | 1548 |
| SELECT SECTOR SPDR TR | STATE STREET MAT | 81369Y100 |  | 379876 | 8377 | SH |  | SOLE |  | 0 | 0 | 8377 |
| SEMPRA | COM | 816851109 |  | 31419572 | 355868 | SH |  | SOLE |  | 0 | 0 | 355868 |
| SHELL PLC | SPON ADS | 780259305 |  | 571748 | 7781 | SH |  | SOLE |  | 0 | 0 | 7781 |
| SIGNET JEWELERS LIMITED | SHS | G81276100 |  | 210764 | 2543 | SH |  | SOLE |  | 1718 | 0 | 825 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 220281 | 1190 | SH |  | SOLE |  | 0 | 0 | 1190 |
| SMITH A O CORP | COM | 831865209 |  | 272470 | 4074 | SH |  | SOLE |  | 2947 | 0 | 1127 |
| SOUTHERN CO | COM | 842587107 |  | 29520967 | 338543 | SH |  | SOLE |  | 0 | 0 | 338543 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 1273741 | 3214 | SH |  | SOLE |  | 0 | 0 | 3214 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 6307551 | 9250 | SH |  | SOLE |  | 0 | 0 | 9250 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A672 |  | 243006 | 8426 | SH |  | SOLE |  | 0 | 0 | 8426 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 260154 | 3243 | SH |  | SOLE |  | 0 | 0 | 3243 |
| SPRINKLR INC | CL A | 85208T107 |  | 136944 | 17602 | SH |  | SOLE |  | 12672 | 0 | 4930 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 6808447 | 85458 | SH |  | SOLE |  | 1308 | 0 | 84150 |
| SSGA ACTIVE ETF TR | STATE STREET DOU | 78467V848 |  | 233893 | 5811 | SH |  | SOLE |  | 0 | 0 | 5811 |
| STARBUCKS CORP | COM | 855244109 |  | 12002688 | 142533 | SH |  | SOLE |  | 0 | 0 | 142533 |
| TESLA INC | COM | 88160R101 |  | 218115 | 485 | SH |  | SOLE |  | 0 | 0 | 485 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 21969065 | 37914 | SH |  | SOLE |  | 0 | 0 | 37914 |
| TORO CO | COM | 891092108 |  | 236160 | 3000 | SH |  | SOLE |  | 2171 | 0 | 829 |
| TOTALENERGIES SE | ACT | F92124100 |  | 20582386 | 314619 | SH |  | SOLE |  | 0 | 0 | 314619 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 257252 | 5144 | SH |  | SOLE |  | 0 | 0 | 5144 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 29908421 | 103111 | SH |  | SOLE |  | 610 | 0 | 102501 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 31599168 | 642640 | SH |  | SOLE |  | 0 | 0 | 642640 |
| UMH PPTYS INC | COM | 903002103 |  | 1533215 | 96368 | SH |  | SOLE |  | 0 | 0 | 96368 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 352282 | 723 | SH |  | SOLE |  | 330 | 0 | 393 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 458862 | 1390 | SH |  | SOLE |  | 0 | 0 | 1390 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 |  | 463947 | 2128 | SH |  | SOLE |  | 615 | 0 | 1513 |
| US BANCORP DEL | COM NEW | 902973304 |  | 27507862 | 515515 | SH |  | SOLE |  | 2838 | 0 | 512677 |
| VANGUARD ADMIRAL FDS INC | 500 GRTH IDX F | 921932505 |  | 400131 | 900 | SH |  | SOLE |  | 0 | 0 | 900 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1261223 | 3762 | SH |  | SOLE |  | 0 | 0 | 3762 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 15243121 | 31245 | SH |  | SOLE |  | 0 | 0 | 31245 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 44103545 | 70326 | SH |  | SOLE |  | 0 | 0 | 70326 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 9752672 | 44375 | SH |  | SOLE |  | 0 | 0 | 44375 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 13986786 | 97455 | SH |  | SOLE |  | 0 | 0 | 97455 |
| VANGUARD WORLD FD | MATERIALS ETF | 92204A801 |  | 13151933 | 63368 | SH |  | SOLE |  | 0 | 0 | 63368 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 5085538 | 22735 | SH |  | SOLE |  | 689 | 0 | 22046 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 17854531 | 438363 | SH |  | SOLE |  | 0 | 0 | 438363 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 8538736 | 18834 | SH |  | SOLE |  | 0 | 0 | 18834 |
| VISA INC | COM CL A | 92826C839 |  | 26335662 | 75092 | SH |  | SOLE |  | 0 | 0 | 75092 |
| WALMART INC | COM | 931142103 |  | 21426050 | 192317 | SH |  | SOLE |  | 0 | 0 | 192317 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 10104353 | 57621 | SH |  | SOLE |  | 899 | 0 | 56722 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 1012738 | 4609 | SH |  | SOLE |  | 0 | 0 | 4609 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 17327316 | 147441 | SH |  | SOLE |  | 0 | 0 | 147441 |
| WISDOMTREE TR | US QTLY DIV GRT | 97717X669 |  | 620198 | 6935 | SH |  | SOLE |  | 0 | 0 | 6935 |
| WORTHINGTON STL INC | COM SHS | 982104101 |  | 256673 | 7414 | SH |  | SOLE |  | 5419 | 0 | 1995 |
| WP CAREY INC | COM | 92936U109 |  | 203764 | 3166 | SH |  | SOLE |  | 2153 | 0 | 1013 |
| YETI HLDGS INC | COM | 98585X104 |  | 304023 | 6883 | SH |  | SOLE |  | 4889 | 0 | 1994 |
| YUM BRANDS INC | COM | 988498101 |  | 242654 | 1604 | SH |  | SOLE |  | 0 | 0 | 1604 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 210343 | 4406 | SH |  | SOLE |  | 3153 | 0 | 1253 |

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