# EDGAR Filing Document

**Accession Number:** 0001802459
**File Stem:** 0001104659-23-018023
**Filing Date:** 2023-2
**Character Count:** 16962
**Document Hash:** 4238aa06cfaf2415dfd57ee8777674d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-018023.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001104659-23-018023

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CWS Financial Advisors, LLC
- **CENTRAL INDEX KEY:** 0001802459
- **IRS NUMBER:** 464489410
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20009
- **FILM NUMBER:** 23608755

**BUSINESS ADDRESS:**
- **STREET 1:** 405 WEST MICHIGAN AVENUE
- **STREET 2:** SUITE 110
- **CITY:** KALAMAZOO
- **STATE:** MI
- **ZIP:** 49007
- **BUSINESS PHONE:** (269) 349-4600

**MAIL ADDRESS:**
- **STREET 1:** 405 WEST MICHIGAN AVENUE
- **STREET 2:** SUITE 110
- **CITY:** KALAMAZOO
- **STATE:** MI
- **ZIP:** 49007

### 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:** CWS Financial Advisors LLC<br>**Address:** 405 West Michigan Avenue<br>Suite 110<br>Kalamazoo, MI 49007

**Form 13F File Number:** 028-20009

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:** Cory Wietfeldt<br>**Title:** Chief Compliance Officer<br>**Phone:** 269-349-4600

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

/s/ Cory Wietfeldt  Kalamazoo, MI  02-09-2023<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:** 141

**Form 13F Information Table Value Total:** $231977000

      (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 |  | 936000 | 4856 | SH |  | SOLE |  | 0 | 0 | 4856 |
| ABBOTT LABS | COM | 002824100 |  | 885000 | 7381 | SH |  | SOLE |  | 0 | 0 | 7381 |
| ABBVIE INC | COM | 00287Y109 |  | 591000 | 5457 | SH |  | SOLE |  | 0 | 0 | 5457 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 631000 | 2283 | SH |  | SOLE |  | 0 | 0 | 2283 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 434000 | 1541 | SH |  | SOLE |  | 0 | 0 | 1541 |
| ALLIANCEBERNSTEIN GLOBAL HIG | COM | 01879R106 |  | 142000 | 11955 | SH |  | SOLE |  | 0 | 0 | 11955 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 205000 | 3791 | SH |  | SOLE |  | 0 | 0 | 3791 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 536000 | 260 | SH |  | SOLE |  | 0 | 0 | 260 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 325000 | 157 | SH |  | SOLE |  | 0 | 0 | 157 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 974000 | 19038 | SH |  | SOLE |  | 0 | 0 | 19038 |
| AMAZON COM INC | COM | 023135106 |  | 928000 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 242000 | 1614 | SH |  | SOLE |  | 0 | 0 | 1614 |
| AMGEN INC | COM | 031162100 |  | 370000 | 1486 | SH |  | SOLE |  | 0 | 0 | 1486 |
| ANALOG DEVICES INC | COM | 032654105 |  | 910000 | 5865 | SH |  | SOLE |  | 0 | 0 | 5865 |
| APPLE INC | COM | 037833100 |  | 7541000 | 61737 | SH |  | SOLE |  | 0 | 0 | 61737 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 451000 | 24120 | SH |  | SOLE |  | 0 | 0 | 24120 |
| AT INC | COM | 00206R102 |  | 878000 | 29006 | SH |  | SOLE |  | 0 | 0 | 29006 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 462000 | 1901 | SH |  | SOLE |  | 0 | 0 | 1901 |
| BERKLEY W R CORP | COM | 084423102 |  | 294000 | 3904 | SH |  | SOLE |  | 0 | 0 | 3904 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 713000 | 2792 | SH |  | SOLE |  | 0 | 0 | 2792 |
| BOEING CO | COM | 097023105 |  | 500000 | 1961 | SH |  | SOLE |  | 0 | 0 | 1961 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 666000 | 10552 | SH |  | SOLE |  | 0 | 0 | 10552 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 897000 | 5859 | SH |  | SOLE |  | 0 | 0 | 5859 |
| BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | 112585104 |  | 202000 | 4536 | SH |  | SOLE |  | 0 | 0 | 4536 |
| BROOKFIELD INFRASTRUCTURE CO | COM SB VTG SHS A | 11275Q107 |  | 392000 | 5131 | SH |  | SOLE |  | 0 | 0 | 5131 |
| BROWN  BROWN INC | COM | 115236101 |  | 327000 | 7147 | SH |  | SOLE |  | 0 | 0 | 7147 |
| CATERPILLAR INC | COM | 149123101 |  | 307000 | 1324 | SH |  | SOLE |  | 0 | 0 | 1324 |
| CHARLES RIV LABS INTL INC | COM | 159864107 |  | 303000 | 1045 | SH |  | SOLE |  | 0 | 0 | 1045 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1810000 | 17275 | SH |  | SOLE |  | 0 | 0 | 17275 |
| CHUBB LIMITED | COM | H1467J104 |  | 750000 | 4749 | SH |  | SOLE |  | 0 | 0 | 4749 |
| CISCO SYS INC | COM | 17275R102 |  | 1057000 | 20437 | SH |  | SOLE |  | 0 | 0 | 20437 |
| CIVISTA BANCSHARES INC | COM NO PAR | 178867107 |  | 613000 | 26716 | SH |  | SOLE |  | 0 | 0 | 26716 |
| CLOROX CO DEL | COM | 189054109 |  | 239000 | 1239 | SH |  | SOLE |  | 0 | 0 | 1239 |
| COCA COLA CO | COM | 191216100 |  | 550000 | 10426 | SH |  | SOLE |  | 0 | 0 | 10426 |
| COGNEX CORP | COM | 192422103 |  | 417000 | 5019 | SH |  | SOLE |  | 0 | 0 | 5019 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 918000 | 11642 | SH |  | SOLE |  | 0 | 0 | 11642 |
| COMMERCE BANCSHARES INC | COM | 200525103 |  | 235000 | 3069 | SH |  | SOLE |  | 0 | 0 | 3069 |
| COMPUGEN LTD | ORD | M25722105 |  | 86000 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 438000 | 8262 | SH |  | SOLE |  | 0 | 0 | 8262 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 303000 | 859 | SH |  | SOLE |  | 0 | 0 | 859 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 215000 | 1981 | SH |  | SOLE |  | 0 | 0 | 1981 |
| DEERE  CO | COM | 244199105 |  | 211000 | 565 | SH |  | SOLE |  | 0 | 0 | 565 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 852000 | 5189 | SH |  | SOLE |  | 0 | 0 | 5189 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 721000 | 5117 | SH |  | SOLE |  | 0 | 0 | 5117 |
| DISNEY WALT CO | COM | 254687106 |  | 989000 | 5359 | SH |  | SOLE |  | 0 | 0 | 5359 |
| DONALDSON INC | COM | 257651109 |  | 208000 | 3572 | SH |  | SOLE |  | 0 | 0 | 3572 |
| DOW INC | COM | 260557103 |  | 731000 | 11431 | SH |  | SOLE |  | 0 | 0 | 11431 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 454000 | 4704 | SH |  | SOLE |  | 0 | 0 | 4704 |
| EATON CORP PLC | SHS | G29183103 |  | 249000 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 529000 | 6330 | SH |  | SOLE |  | 0 | 0 | 6330 |
| EMERSON ELEC CO | COM | 291011104 |  | 220000 | 2435 | SH |  | SOLE |  | 0 | 0 | 2435 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 578000 | 5810 | SH |  | SOLE |  | 0 | 0 | 5810 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 258000 | 2392 | SH |  | SOLE |  | 0 | 0 | 2392 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1708000 | 30594 | SH |  | SOLE |  | 0 | 0 | 30594 |
| FASTENAL CO | COM | 311900104 |  | 1089000 | 21649 | SH |  | SOLE |  | 0 | 0 | 21649 |
| FIDELITY NATIONAL FINANCIAL | FNF GROUP COM | 31620R303 |  | 579000 | 14238 | SH |  | SOLE |  | 0 | 0 | 14238 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 250000 | 1775 | SH |  | SOLE |  | 0 | 0 | 1775 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 411000 | 2266 | SH |  | SOLE |  | 0 | 0 | 2266 |
| GENTEX CORP | COM | 371901109 |  | 206000 | 5769 | SH |  | SOLE |  | 0 | 0 | 5769 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 483000 | 7476 | SH |  | SOLE |  | 0 | 0 | 7476 |
| GRACO INC | COM | 384109104 |  | 996000 | 13900 | SH |  | SOLE |  | 0 | 0 | 13900 |
| HOME DEPOT INC | COM | 437076102 |  | 1557000 | 5099 | SH |  | SOLE |  | 0 | 0 | 5099 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 734000 | 3314 | SH |  | SOLE |  | 0 | 0 | 3314 |
| INTEL CORP | COM | 458140100 |  | 480000 | 7494 | SH |  | SOLE |  | 0 | 0 | 7494 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1204000 | 9032 | SH |  | SOLE |  | 0 | 0 | 9032 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 874000 | 13587 | SH |  | SOLE |  | 0 | 0 | 13587 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 2047000 | 28416 | SH |  | SOLE |  | 0 | 0 | 28416 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1137000 | 2858 | SH |  | SOLE |  | 0 | 0 | 2858 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 1090000 | 10039 | SH |  | SOLE |  | 0 | 0 | 10039 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 793000 | 3047 | SH |  | SOLE |  | 0 | 0 | 3047 |
| ISHARES TR | MSCI USA ESG SLC | 464288802 |  | 430000 | 4893 | SH |  | SOLE |  | 0 | 0 | 4893 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 402000 | 6172 | SH |  | SOLE |  | 0 | 0 | 6172 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 366000 | 2588 | SH |  | SOLE |  | 0 | 0 | 2588 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 258000 | 6689 | SH |  | SOLE |  | 0 | 0 | 6689 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1220000 | 7423 | SH |  | SOLE |  | 0 | 0 | 7423 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 933000 | 6131 | SH |  | SOLE |  | 0 | 0 | 6131 |
| KELLOGG CO | COM | 487836108 |  | 477000 | 7543 | SH |  | SOLE |  | 0 | 0 | 7543 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 443000 | 26583 | SH |  | SOLE |  | 0 | 0 | 26583 |
| LILLY ELI  CO | COM | 532457108 |  | 315000 | 1688 | SH |  | SOLE |  | 0 | 0 | 1688 |
| LINDE PLC | SHS | G5494J103 |  | 1340000 | 4783 | SH |  | SOLE |  | 0 | 0 | 4783 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 1229000 | 3327 | SH |  | SOLE |  | 0 | 0 | 3327 |
| LOWES COS INC | COM | 548661107 |  | 340000 | 1789 | SH |  | SOLE |  | 0 | 0 | 1789 |
| MARATHON PETE CORP | COM | 56585A102 |  | 239000 | 4470 | SH |  | SOLE |  | 0 | 0 | 4470 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 241000 | 719 | SH |  | SOLE |  | 0 | 0 | 719 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 840000 | 2360 | SH |  | SOLE |  | 0 | 0 | 2360 |
| MCDONALDS CORP | COM | 580135101 |  | 2603000 | 11614 | SH |  | SOLE |  | 0 | 0 | 11614 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 288000 | 2440 | SH |  | SOLE |  | 0 | 0 | 2440 |
| MICROSOFT CORP | COM | 594918104 |  | 5514000 | 23386 | SH |  | SOLE |  | 0 | 0 | 23386 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 931000 | 12317 | SH |  | SOLE |  | 0 | 0 | 12317 |
| NIKE INC | CL B | 654106103 |  | 374000 | 2814 | SH |  | SOLE |  | 0 | 0 | 2814 |
| NORDSON CORP | COM | 655663102 |  | 350000 | 1762 | SH |  | SOLE |  | 0 | 0 | 1762 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 288000 | 1071 | SH |  | SOLE |  | 0 | 0 | 1071 |
| NORTHERN TR CORP | COM | 665859104 |  | 837000 | 7967 | SH |  | SOLE |  | 0 | 0 | 7967 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 511000 | 2538 | SH |  | SOLE |  | 0 | 0 | 2538 |
| ORACLE CORP | COM | 68389X105 |  | 399000 | 5683 | SH |  | SOLE |  | 0 | 0 | 5683 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 313000 | 993 | SH |  | SOLE |  | 0 | 0 | 993 |
| PAYCHEX INC | COM | 704326107 |  | 1166000 | 11899 | SH |  | SOLE |  | 0 | 0 | 11899 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 335000 | 1381 | SH |  | SOLE |  | 0 | 0 | 1381 |
| PEPSICO INC | COM | 713448108 |  | 2676000 | 18915 | SH |  | SOLE |  | 0 | 0 | 18915 |
| PFIZER INC | COM | 717081103 |  | 1643000 | 45356 | SH |  | SOLE |  | 0 | 0 | 45356 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 964000 | 10866 | SH |  | SOLE |  | 0 | 0 | 10866 |
| PHILLIPS 66 | COM | 718546104 |  | 209000 | 2566 | SH |  | SOLE |  | 0 | 0 | 2566 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 291000 | 1658 | SH |  | SOLE |  | 0 | 0 | 1658 |
| POLARIS INC | COM | 731068102 |  | 1137000 | 8517 | SH |  | SOLE |  | 0 | 0 | 8517 |
| PPG INDS INC | COM | 693506107 |  | 229000 | 1522 | SH |  | SOLE |  | 0 | 0 | 1522 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 276000 | 1610 | SH |  | SOLE |  | 0 | 0 | 1610 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 2025000 | 14953 | SH |  | SOLE |  | 0 | 0 | 14953 |
| PROGRESSIVE CORP | COM | 743315103 |  | 880000 | 9209 | SH |  | SOLE |  | 0 | 0 | 9209 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 212000 | 2332 | SH |  | SOLE |  | 0 | 0 | 2332 |
| RAYONIER INC | COM | 754907103 |  | 554000 | 17177 | SH |  | SOLE |  | 0 | 0 | 17177 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 466000 | 6031 | SH |  | SOLE |  | 0 | 0 | 6031 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 218000 | 820 | SH |  | SOLE |  | 0 | 0 | 820 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 260000 | 3982 | SH |  | SOLE |  | 0 | 0 | 3982 |
| SCOTTS MIRACLE-GRO CO | CL A | 810186106 |  | 210000 | 856 | SH |  | SOLE |  | 0 | 0 | 856 |
| SL GREEN RLTY CORP | COM | 78440X804 |  | 450000 | 6431 | SH |  | SOLE |  | 0 | 0 | 6431 |
| SNAP ON INC | COM | 833034101 |  | 1045000 | 4530 | SH |  | SOLE |  | 0 | 0 | 4530 |
| SOUTHERN CO | COM | 842587107 |  | 1418000 | 22812 | SH |  | SOLE |  | 0 | 0 | 22812 |
| STARBUCKS CORP | COM | 855244109 |  | 972000 | 8892 | SH |  | SOLE |  | 0 | 0 | 8892 |
| STRYKER CORPORATION | COM | 863667101 |  | 71857000 | 295004 | SH |  | SOLE |  | 0 | 0 | 295004 |
| TARGET CORP | COM | 87612E106 |  | 294000 | 1486 | SH |  | SOLE |  | 0 | 0 | 1486 |
| TJX COS INC NEW | COM | 872540109 |  | 414000 | 6265 | SH |  | SOLE |  | 0 | 0 | 6265 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 269000 | 870 | SH |  | SOLE |  | 0 | 0 | 870 |
| UNION PAC CORP | COM | 907818108 |  | 257000 | 1167 | SH |  | SOLE |  | 0 | 0 | 1167 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 212000 | 1250 | SH |  | SOLE |  | 0 | 0 | 1250 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 294000 | 789 | SH |  | SOLE |  | 0 | 0 | 789 |
| US BANCORP DEL | COM NEW | 902973304 |  | 635000 | 11486 | SH |  | SOLE |  | 0 | 0 | 11486 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 345000 | 4068 | SH |  | SOLE |  | 0 | 0 | 4068 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 37616000 | 212629 | SH |  | SOLE |  | 0 | 0 | 212629 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 9843000 | 27020 | SH |  | SOLE |  | 0 | 0 | 27020 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 2363000 | 11432 | SH |  | SOLE |  | 0 | 0 | 11432 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 1871000 | 7279 | SH |  | SOLE |  | 0 | 0 | 7279 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 1198000 | 9116 | SH |  | SOLE |  | 0 | 0 | 9116 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 879000 | 4107 | SH |  | SOLE |  | 0 | 0 | 4107 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 336000 | 1517 | SH |  | SOLE |  | 0 | 0 | 1517 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 1375000 | 9348 | SH |  | SOLE |  | 0 | 0 | 9348 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 7687000 | 122606 | SH |  | SOLE |  | 0 | 0 | 122606 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 984000 | 16916 | SH |  | SOLE |  | 0 | 0 | 16916 |
| VIEWRAY INC | COM | 92672L107 |  | 75000 | 17329 | SH |  | SOLE |  | 0 | 0 | 17329 |
| WALMART INC | COM | 931142103 |  | 1319000 | 9713 | SH |  | SOLE |  | 0 | 0 | 9713 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 779000 | 21878 | SH |  | SOLE |  | 0 | 0 | 21878 |
| ZOETIS INC | CL A | 98978V103 |  | 647000 | 4106 | SH |  | SOLE |  | 0 | 0 | 4106 |

---