# EDGAR Filing Document

**Accession Number:** 0001633024
**File Stem:** 0001214659-26-000532
**Filing Date:** 2026-1
**Character Count:** 18647
**Document Hash:** ff058f8b32b9051349ded23e8475105a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-26-000532.hdr.sgml**: 20260116

**ACCESSION NUMBER**: 0001214659-26-000532

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260116

**DATE AS OF CHANGE**: 20260116

**EFFECTIVENESS DATE**: 20260116

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KWMG, LLC
- **CENTRAL INDEX KEY:** 0001633024

**ORGANIZATION NAME:**
- **EIN:** 464580356
- **STATE OF INCORPORATION:** MO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16529
- **FILM NUMBER:** 26537841

**BUSINESS ADDRESS:**
- **STREET 1:** 7500 COLLEGE BLVD
- **STREET 2:** SUITE 1000
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66210
- **BUSINESS PHONE:** (913) 624-1841

**MAIL ADDRESS:**
- **STREET 1:** 7500 COLLEGE BLVD
- **STREET 2:** SUITE 1000
- **CITY:** OVERLAND PARK
- **STATE:** KS
- **ZIP:** 66210

### 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:** KWMG LLC<br>**Address:** 7500 COLLEGE BLVD<br>SUITE 1000<br>OVERLAND PARK, KS 66210

**Form 13F File Number:** 028-16529

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:** Matthew Wilson<br>**Title:** Chief Compliance Officer<br>**Phone:** 913-624-1841

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

/s/ Matthew Wilson  Overland Park, KS  01-08-2026<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:** 149

**Form 13F Information Table Value Total:** $1160100953

      (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 |
| ABBVIE INC | COM | 00287Y109 |  | 322628 | 1412 | SH |  | SOLE |  | 0 | 0 | 1412 |
| AFLAC INC | COM | 001055102 |  | 8125714 | 73689 | SH |  | SOLE |  | 0 | 0 | 73689 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 999277 | 3193 | SH |  | SOLE |  | 0 | 0 | 3193 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1428701 | 4553 | SH |  | SOLE |  | 0 | 0 | 4553 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 7175974 | 124453 | SH |  | SOLE |  | 0 | 0 | 124453 |
| AMAZON COM INC | COM | 023135106 |  | 1873242 | 8116 | SH |  | SOLE |  | 0 | 0 | 8116 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 |  | 7116815 | 464241 | SH |  | SOLE |  | 0 | 0 | 464241 |
| AMERICAN CENTY ETF TR | US EQT ETF | 025072885 |  | 13785355 | 123326 | SH |  | SOLE |  | 0 | 0 | 123326 |
| AMGEN INC | COM | 031162100 |  | 7137103 | 21805 | SH |  | SOLE |  | 0 | 0 | 21805 |
| AON PLC | SHS CL A | G0403H108 |  | 6954912 | 19709 | SH |  | SOLE |  | 0 | 0 | 19709 |
| APPLE INC | COM | 037833100 |  | 6410794 | 23581 | SH |  | SOLE |  | 0 | 0 | 23581 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 620982 | 3842 | SH |  | SOLE |  | 0 | 0 | 3842 |
| AT INC | COM | 00206R102 |  | 6717788 | 270442 | SH |  | SOLE |  | 0 | 0 | 270442 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 3933391 | 195886 | SH |  | SOLE |  | 0 | 0 | 195886 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 3019200 | 4 | SH |  | SOLE |  | 0 | 0 | 4 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 4726418 | 9403 | SH |  | SOLE |  | 0 | 0 | 9403 |
| BOEING CO | COM | 097023105 |  | 7187323 | 33103 | SH |  | SOLE |  | 0 | 0 | 33103 |
| BROADCOM INC | COM | 11135F101 |  | 226696 | 655 | SH |  | SOLE |  | 0 | 0 | 655 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 6233975 | 63065 | SH |  | SOLE |  | 0 | 0 | 63065 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 8838142 | 36467 | SH |  | SOLE |  | 0 | 0 | 36467 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 16505129 | 80317 | SH |  | SOLE |  | 0 | 0 | 80317 |
| CARLISLE COS INC | COM | 142339100 |  | 6573763 | 20552 | SH |  | SOLE |  | 0 | 0 | 20552 |
| CATERPILLAR INC | COM | 149123101 |  | 288154 | 503 | SH |  | SOLE |  | 0 | 0 | 503 |
| COCA COLA CO | COM | 191216100 |  | 466924 | 6679 | SH |  | SOLE |  | 0 | 0 | 6679 |
| CORNING INC | COM | 219350105 |  | 10767038 | 122968 | SH |  | SOLE |  | 0 | 0 | 122968 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 687022 | 797 | SH |  | SOLE |  | 0 | 0 | 797 |
| COTERRA ENERGY INC | COM | 127097103 |  | 6445892 | 244905 | SH |  | SOLE |  | 0 | 0 | 244905 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 8514339 | 122685 | SH |  | SOLE |  | 0 | 0 | 122685 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 6164350 | 168287 | SH |  | SOLE |  | 0 | 0 | 168287 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 33626098 | 482648 | SH |  | SOLE |  | 0 | 0 | 482648 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 7721801 | 58159 | SH |  | SOLE |  | 0 | 0 | 58159 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 3634736 | 90416 | SH |  | SOLE |  | 0 | 0 | 90416 |
| EASTMAN CHEM CO | COM | 277432100 |  | 4672175 | 73197 | SH |  | SOLE |  | 0 | 0 | 73197 |
| EDISON INTL | COM | 281020107 |  | 6220662 | 103643 | SH |  | SOLE |  | 0 | 0 | 103643 |
| ETF SER SOLUTIONS | DEFIANCE CONNECT | 26922A289 |  | 6403514 | 100312 | SH |  | SOLE |  | 0 | 0 | 100312 |
| GARMIN LTD | SHS | H2906T109 |  | 245768 | 1212 | SH |  | SOLE |  | 0 | 0 | 1212 |
| HOME BANCSHARES INC | COM | 436893200 |  | 7011099 | 252379 | SH |  | SOLE |  | 0 | 0 | 252379 |
| HOME DEPOT INC | COM | 437076102 |  | 6296922 | 18300 | SH |  | SOLE |  | 0 | 0 | 18300 |
| HONEYWELL INTL INC | COM | 438516106 |  | 773922 | 3967 | SH |  | SOLE |  | 0 | 0 | 3967 |
| INTERNATIONAL BUSINESS | COM | 459200101 |  | 8718932 | 29435 | SH |  | SOLE |  | 0 | 0 | 29435 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 5629661 | 142921 | SH |  | SOLE |  | 0 | 0 | 142921 |
| INVESCO EXCH TRADED FD TR | NATL AMT MUNI | 46138E537 |  | 303928 | 13106 | SH |  | SOLE |  | 0 | 0 | 13106 |
| INVESCO EXCHANGE TRADED FD | LEISURE AND ENTE | 46137V720 |  | 2357035 | 38432 | SH |  | SOLE |  | 0 | 0 | 38432 |
| INVESCO EXCHANGE TRADED FD | AEROSPACE DEFN | 46137V100 |  | 205185 | 1310 | SH |  | SOLE |  | 0 | 0 | 1310 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 30068965 | 48948 | SH |  | SOLE |  | 0 | 0 | 48948 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 248705 | 3064 | SH |  | SOLE |  | 0 | 0 | 3064 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 1047818 | 7047 | SH |  | SOLE |  | 0 | 0 | 7047 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 23166776 | 287322 | SH |  | SOLE |  | 0 | 0 | 287322 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 30083661 | 244067 | SH |  | SOLE |  | 0 | 0 | 244067 |
| ISHARES TR | CORE S ETF | 464287200 |  | 5826082 | 8506 | SH |  | SOLE |  | 0 | 0 | 8506 |
| ISHARES TR | GLB INFRASTR ETF | 464288372 |  | 362761 | 5912 | SH |  | SOLE |  | 0 | 0 | 5912 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 14732318 | 278599 | SH |  | SOLE |  | 0 | 0 | 278599 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 |  | 13282006 | 120581 | SH |  | SOLE |  | 0 | 0 | 120581 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 840708 | 12738 | SH |  | SOLE |  | 0 | 0 | 12738 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 25384626 | 119699 | SH |  | SOLE |  | 0 | 0 | 119699 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 993185 | 11102 | SH |  | SOLE |  | 0 | 0 | 11102 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 7293456 | 69008 | SH |  | SOLE |  | 0 | 0 | 69008 |
| ISHARES TR | S MC 400VL ETF | 464287705 |  | 371347 | 2822 | SH |  | SOLE |  | 0 | 0 | 2822 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 452182 | 3763 | SH |  | SOLE |  | 0 | 0 | 3763 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 12475923 | 132497 | SH |  | SOLE |  | 0 | 0 | 132497 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 17165827 | 167651 | SH |  | SOLE |  | 0 | 0 | 167651 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 14950554 | 105927 | SH |  | SOLE |  | 0 | 0 | 105927 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 31552588 | 287077 | SH |  | SOLE |  | 0 | 0 | 287077 |
| ISHARES TR | SHRT NAT MUN ETF | 464288158 |  | 1987928 | 18631 | SH |  | SOLE |  | 0 | 0 | 18631 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 2002317 | 18694 | SH |  | SOLE |  | 0 | 0 | 18694 |
| ISHARES U S ETF TR | SHORT MATURITY M | 46431W838 |  | 1661818 | 33025 | SH |  | SOLE |  | 0 | 0 | 33025 |
| ISHARES U S ETF TR | SHORT DURATION B | 46431W507 |  | 15429342 | 301944 | SH |  | SOLE |  | 0 | 0 | 301944 |
| J P MORGAN EXCHANGE TRADED | ULTRA SHRT ETF | 46641Q837 |  | 14866276 | 293858 | SH |  | SOLE |  | 0 | 0 | 293858 |
| J P MORGAN EXCHANGE TRADED | ULTRA SHT MUNCPL | 46641Q654 |  | 1149971 | 22575 | SH |  | SOLE |  | 0 | 0 | 22575 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 696511 | 11239 | SH |  | SOLE |  | 0 | 0 | 11239 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 491831 | 2377 | SH |  | SOLE |  | 0 | 0 | 2377 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 561307 | 1742 | SH |  | SOLE |  | 0 | 0 | 1742 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 5148921 | 51035 | SH |  | SOLE |  | 0 | 0 | 51035 |
| KROGER CO | COM | 501044101 |  | 6939753 | 111072 | SH |  | SOLE |  | 0 | 0 | 111072 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 13095482 | 76501 | SH |  | SOLE |  | 0 | 0 | 76501 |
| LENNAR CORP | CL A | 526057104 |  | 4797882 | 46672 | SH |  | SOLE |  | 0 | 0 | 46672 |
| LOWES COS INC | COM | 548661107 |  | 525729 | 2180 | SH |  | SOLE |  | 0 | 0 | 2180 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | N53745100 |  | 4028984 | 93048 | SH |  | SOLE |  | 0 | 0 | 93048 |
| MARATHON PETE CORP | COM | 56585A102 |  | 6689750 | 41135 | SH |  | SOLE |  | 0 | 0 | 41135 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 245028 | 429 | SH |  | SOLE |  | 0 | 0 | 429 |
| MAXCYTE INC | COM | 57777K106 |  | 40041 | 25833 | SH |  | SOLE |  | 0 | 0 | 25833 |
| MCDONALDS CORP | COM | 580135101 |  | 316579 | 1036 | SH |  | SOLE |  | 0 | 0 | 1036 |
| META PLATFORMS INC | CL A | 30303M102 |  | 415197 | 629 | SH |  | SOLE |  | 0 | 0 | 629 |
| MICROSOFT CORP | COM | 594918104 |  | 9837302 | 20341 | SH |  | SOLE |  | 0 | 0 | 20341 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 7673402 | 95846 | SH |  | SOLE |  | 0 | 0 | 95846 |
| NGL ENERGY PARTNERS LP | COM UNIT REPST | 62913M107 |  | 490630 | 49063 | SH |  | SOLE |  | 0 | 0 | 49063 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 10651966 | 66893 | SH |  | SOLE |  | 0 | 0 | 66893 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2543861 | 13640 | SH |  | SOLE |  | 0 | 0 | 13640 |
| PFIZER INC | COM | 717081103 |  | 5592602 | 224603 | SH |  | SOLE |  | 0 | 0 | 224603 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 461310 | 2876 | SH |  | SOLE |  | 0 | 0 | 2876 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 13369871 | 143638 | SH |  | SOLE |  | 0 | 0 | 143638 |
| PIMCO ETF TR | ENHAN SHRT MA AC | 72201R833 |  | 19274574 | 192093 | SH |  | SOLE |  | 0 | 0 | 192093 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 706792 | 4932 | SH |  | SOLE |  | 0 | 0 | 4932 |
| PROSHARES TR | ULTRAPRO QQQ | 74347X831 |  | 343947 | 6524 | SH |  | SOLE |  | 0 | 0 | 6524 |
| PROSHARES TR | ULTRPRO S | 74347X864 |  | 790332 | 6827 | SH |  | SOLE |  | 0 | 0 | 6827 |
| PROSPERITY BANCSHARES INC | COM | 743606105 |  | 6629516 | 95927 | SH |  | SOLE |  | 0 | 0 | 95927 |
| QNITY ELECTRONICS INC | COMMON STOCK | 74743L100 |  | 1959437 | 23998 | SH |  | SOLE |  | 0 | 0 | 23998 |
| QUANTA SVCS INC | COM | 74762E102 |  | 210186 | 498 | SH |  | SOLE |  | 0 | 0 | 498 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 8411327 | 21619 | SH |  | SOLE |  | 0 | 0 | 21619 |
| ROSS STORES INC | COM | 778296103 |  | 8990427 | 49908 | SH |  | SOLE |  | 0 | 0 | 49908 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 275887 | 10518 | SH |  | SOLE |  | 0 | 0 | 10518 |
| SEAGATE TECHNOLOGY HLDNGS | ORD SHS | G7997R103 |  | 14576393 | 52930 | SH |  | SOLE |  | 0 | 0 | 52930 |
| SEALED AIR CORP NEW | COM | 81211K100 |  | 6994606 | 168829 | SH |  | SOLE |  | 0 | 0 | 168829 |
| SELECT SECTOR SPDR TR | STATE STREET COM | 81369Y852 |  | 8390964 | 71279 | SH |  | SOLE |  | 0 | 0 | 71279 |
| SELECT SECTOR SPDR TR | STATE STREET UTI | 81369Y886 |  | 9874352 | 231304 | SH |  | SOLE |  | 0 | 0 | 231304 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 41706529 | 289689 | SH |  | SOLE |  | 0 | 0 | 289689 |
| SELECT SECTOR SPDR TR | STATE STREET HEA | 81369Y209 |  | 20162128 | 130246 | SH |  | SOLE |  | 0 | 0 | 130246 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 8641098 | 111240 | SH |  | SOLE |  | 0 | 0 | 111240 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y407 |  | 610424 | 5112 | SH |  | SOLE |  | 0 | 0 | 5112 |
| SMURFIT WESTROCK PLC | SHS | G8267P108 |  | 5548101 | 143473 | SH |  | SOLE |  | 0 | 0 | 143473 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 712830 | 1045 | SH |  | SOLE |  | 0 | 0 | 1045 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 306466 | 508 | SH |  | SOLE |  | 0 | 0 | 508 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A284 |  | 1314039 | 52688 | SH |  | SOLE |  | 0 | 0 | 52688 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A110 |  | 1237707 | 6937 | SH |  | SOLE |  | 0 | 0 | 6937 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R739 |  | 1511925 | 31505 | SH |  | SOLE |  | 0 | 0 | 31505 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A763 |  | 617870 | 4440 | SH |  | SOLE |  | 0 | 0 | 4440 |
| STRYKER CORPORATION | COM | 863667101 |  | 502318 | 1429 | SH |  | SOLE |  | 0 | 0 | 1429 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 9275402 | 111176 | SH |  | SOLE |  | 0 | 0 | 111176 |
| TEXTRON INC | COM | 883203101 |  | 7817679 | 89683 | SH |  | SOLE |  | 0 | 0 | 89683 |
| TJX COS INC NEW | COM | 872540109 |  | 9800643 | 63802 | SH |  | SOLE |  | 0 | 0 | 63802 |
| T-MOBILE US INC | COM | 872590104 |  | 246491 | 1214 | SH |  | SOLE |  | 0 | 0 | 1214 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 7962169 | 27450 | SH |  | SOLE |  | 0 | 0 | 27450 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 11837675 | 72717 | SH |  | SOLE |  | 0 | 0 | 72717 |
| VANECK ETF TRUST | HIGH YLD MUNIETF | 92189H409 |  | 223088 | 4364 | SH |  | SOLE |  | 0 | 0 | 4364 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 10291461 | 28577 | SH |  | SOLE |  | 0 | 0 | 28577 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 21424106 | 271845 | SH |  | SOLE |  | 0 | 0 | 271845 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 30567210 | 412680 | SH |  | SOLE |  | 0 | 0 | 412680 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 22743476 | 257017 | SH |  | SOLE |  | 0 | 0 | 257017 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1034634 | 3565 | SH |  | SOLE |  | 0 | 0 | 3565 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 5051790 | 10355 | SH |  | SOLE |  | 0 | 0 | 10355 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 1094560 | 3477 | SH |  | SOLE |  | 0 | 0 | 3477 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 412481 | 1599 | SH |  | SOLE |  | 0 | 0 | 1599 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 3853537 | 11494 | SH |  | SOLE |  | 0 | 0 | 11494 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 450406 | 718 | SH |  | SOLE |  | 0 | 0 | 718 |
| VANGUARD INDEX FDS | MCAP VL IDXVIP | 922908512 |  | 36086252 | 203452 | SH |  | SOLE |  | 0 | 0 | 203452 |
| VANGUARD INDEX FDS | MCAP GR IDXVIP | 922908538 |  | 38469155 | 137813 | SH |  | SOLE |  | 0 | 0 | 137813 |
| VANGUARD INTL EQUITY INDEX | FTSE EMR MKT ETF | 922042858 |  | 26279814 | 488836 | SH |  | SOLE |  | 0 | 0 | 488836 |
| VANGUARD INTL EQUITY INDEX | TT WRLD ST ETF | 922042742 |  | 431099 | 3056 | SH |  | SOLE |  | 0 | 0 | 3056 |
| VANGUARD INTL EQUITY INDEX | ALLWRLD EX US | 922042775 |  | 680945 | 9257 | SH |  | SOLE |  | 0 | 0 | 9257 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 20909514 | 262254 | SH |  | SOLE |  | 0 | 0 | 262254 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 2865687 | 13039 | SH |  | SOLE |  | 0 | 0 | 13039 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 375620 | 4979 | SH |  | SOLE |  | 0 | 0 | 4979 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 61382931 | 982599 | SH |  | SOLE |  | 0 | 0 | 982599 |
| VANGUARD WHITEHALL FDS | INTL HIGH ETF | 921946794 |  | 19020664 | 211341 | SH |  | SOLE |  | 0 | 0 | 211341 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 17610999 | 23364 | SH |  | SOLE |  | 0 | 0 | 23364 |
| VANGUARD WORLD FD | CONSUM DIS ETF | 92204A108 |  | 1541415 | 3913 | SH |  | SOLE |  | 0 | 0 | 3913 |
| VISA INC | COM CL A | 92826C839 |  | 278395 | 794 | SH |  | SOLE |  | 0 | 0 | 794 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 270423 | 2902 | SH |  | SOLE |  | 0 | 0 | 2902 |
| WHIRLPOOL CORP | COM | 963320106 |  | 4431499 | 61429 | SH |  | SOLE |  | 0 | 0 | 61429 |

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