# EDGAR Filing Document

**Accession Number:** 0001555486
**File Stem:** 0001172661-23-000571
**Filing Date:** 2023-2
**Character Count:** 19963
**Document Hash:** 49692ecd61ca109c211890ea94c4e1a2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-23-000571.hdr.sgml**: 20230209

**ACCESSION NUMBER**: 0001172661-23-000571

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230209

**DATE AS OF CHANGE**: 20230209

**EFFECTIVENESS DATE**: 20230209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Baltimore-Washington Financial Advisors, Inc.
- **CENTRAL INDEX KEY:** 0001555486
- **IRS NUMBER:** 521677425
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15682
- **FILM NUMBER:** 23606593

**BUSINESS ADDRESS:**
- **STREET 1:** 5950 SYMPHONY WOODS ROAD
- **STREET 2:** SUITE 600
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21044
- **BUSINESS PHONE:** 410-461-3900

**MAIL ADDRESS:**
- **STREET 1:** 5950 SYMPHONY WOODS ROAD
- **STREET 2:** SUITE 600
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21044

### 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:** Baltimore-Washington Financial Advisors Inc.<br>**Address:** 5950 Symphony Woods Road<br>Suite 600<br>Columbia, MD 21044

**Form 13F File Number:** 028-15682

**CRD Number (if applicable):** 000159388

**SEC File Number (if applicable):** 801-76893

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:** Robert Carpenter<br>**Title:** Chief Compliance Officer<br>**Phone:** 410-461-3900

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

/s/ Robert Carpenter  Columbia, MD  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:** 161

**Form 13F Information Table Value Total:** $1022547240

      (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 |  | 266222 | 2220 | SH |  | SOLE |  | 1903 | 0 | 317 |
| 3M CO | COM | 88579Y101 |  | 8537 | 71 | SH |  | SOLE |  | 0 | 0 | 71 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 9041547 | 26867 | SH |  | SOLE |  | 24928 | 0 | 1939 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 2350309 | 36287 | SH |  | SOLE |  | 33216 | 0 | 3071 |
| ALLIANCEBERNSTEIN HLDG L P | UNIT LTD PARTN | 01881G106 |  | 491285 | 14294 | SH |  | SOLE |  | 11912 | 0 | 2382 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 17833039 | 200981 | SH |  | SOLE |  | 186124 | 0 | 14857 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 6509352 | 73777 | SH |  | SOLE |  | 70569 | 0 | 3208 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 31763 | 360 | SH |  | SOLE |  | 0 | 0 | 360 |
| AMAZON COM INC | COM | 023135106 |  | 14891016 | 177274 | SH |  | SOLE |  | 164809 | 0 | 12465 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 275111 | 1862 | SH |  | SOLE |  | 1490 | 0 | 372 |
| AMN HEALTHCARE SVCS INC | COM | 001744101 |  | 8034869 | 78145 | SH |  | SOLE |  | 72811 | 0 | 5334 |
| AMN HEALTHCARE SVCS INC | COM | 001744101 |  | 28790 | 280 | SH |  | SOLE |  | 0 | 0 | 280 |
| APPLE INC | COM | 037833100 |  | 32339913 | 248903 | SH |  | SOLE |  | 231124 | 0 | 17779 |
| APPLE INC | COM | 037833100 |  | 43734 | 337 | SH |  | SOLE |  | 0 | 0 | 337 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 4196776 | 227221 | SH |  | SOLE |  | 211073 | 0 | 16148 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 25360 | 1373 | SH |  | SOLE |  | 0 | 0 | 1373 |
| ARISTA NETWORKS INC | COM | 040413106 |  | 9781320 | 80604 | SH |  | SOLE |  | 74307 | 0 | 6297 |
| AT INC | COM | 00206R102 |  | 210702 | 11445 | SH |  | SOLE |  | 10173 | 0 | 1272 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 11621127 | 37621 | SH |  | SOLE |  | 35029 | 0 | 2592 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 92670 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| BLACKROCK INC | COM | 09247X101 |  | 11031903 | 15568 | SH |  | SOLE |  | 14609 | 0 | 959 |
| BLACKSTONE INC | COM | 09260D107 |  | 17733052 | 239022 | SH |  | SOLE |  | 225269 | 0 | 13753 |
| BOEING CO | COM | 097023105 |  | 227255 | 1193 | SH |  | SOLE |  | 1193 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 10122747 | 5023 | SH |  | SOLE |  | 4796 | 0 | 227 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 298593 | 4150 | SH |  | SOLE |  | 0 | 0 | 4150 |
| CARLYLE GROUP INC | COM | 14316J108 |  | 5051713 | 169293 | SH |  | SOLE |  | 156204 | 0 | 13089 |
| CHEWY INC | CL A | 16679L109 |  | 2774752 | 74832 | SH |  | SOLE |  | 68745 | 0 | 6087 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 12004837 | 8652 | SH |  | SOLE |  | 8272 | 0 | 380 |
| COCA COLA CO | COM | 191216100 |  | 407908 | 6413 | SH |  | SOLE |  | 4489 | 0 | 1924 |
| COCA COLA CO | COM | 191216100 |  | 34099 | 536 | SH |  | SOLE |  | 0 | 0 | 536 |
| COPART INC | COM | 217204106 |  | 6483506 | 106479 | SH |  | SOLE |  | 96834 | 0 | 9645 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 15577543 | 34124 | SH |  | SOLE |  | 32037 | 0 | 2087 |
| CSX CORP | COM | 126408103 |  | 330526 | 10669 | SH |  | SOLE |  | 8535 | 0 | 2134 |
| DISNEY WALT CO | COM | 254687106 |  | 10716 | 123 | SH |  | SOLE |  | 0 | 0 | 123 |
| DISNEY WALT CO | COM | 254687106 |  | 7766545 | 89394 | SH |  | SOLE |  | 83820 | 0 | 5574 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 337164 | 5498 | SH |  | SOLE |  | 3665 | 0 | 1833 |
| EXELON CORP | COM | 30161N101 |  | 264784 | 6125 | SH |  | SOLE |  | 5250 | 0 | 875 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1458174 | 13220 | SH |  | SOLE |  | 12961 | 0 | 259 |
| FIRST TR EXCHANGE-TRADED FD | GBL WND ENRG ETF | 33736G106 |  | 233751 | 13496 | SH |  | SOLE |  | 13496 | 0 | 0 |
| GLOBAL X FDS | FINTECH ETF | 37954Y814 |  | 4598651 | 238891 | SH |  | SOLE |  | 208212 | 0 | 30679 |
| GLOBAL X FDS | FINTECH ETF | 37954Y814 |  | 5063 | 263 | SH |  | SOLE |  | 263 | 0 | 0 |
| HANNON ARMSTRONG SUST INFR C | COM | 41068X100 |  | 7410918 | 255725 | SH |  | SOLE |  | 239742 | 0 | 15983 |
| HERSHEY CO | COM | 427866108 |  | 3206087 | 13845 | SH |  | SOLE |  | 13182 | 0 | 663 |
| HOME DEPOT INC | COM | 437076102 |  | 16004758 | 50670 | SH |  | SOLE |  | 47120 | 0 | 3550 |
| INMODE LTD | SHS | M5425M103 |  | 10547958 | 295461 | SH |  | SOLE |  | 274259 | 0 | 21202 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 14717210 | 143457 | SH |  | SOLE |  | 133573 | 0 | 9884 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 19686 | 192 | SH |  | SOLE |  | 0 | 0 | 192 |
| INVESCO EXCHANGE TRADED FD T | S EQL TEC | 46137V282 |  | 20139806 | 82887 | SH |  | SOLE |  | 75814 | 0 | 7073 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 27863535 | 197264 | SH |  | SOLE |  | 185376 | 0 | 11888 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 47252902 | 177456 | SH |  | SOLE |  | 159432 | 0 | 18024 |
| ISHARES TR | IBONDS DEC24 ETF | 46434VBG4 |  | 5405266 | 221345 | PRN |  | SOLE |  | 195422 | 0 | 25923 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 5887252 | 62206 | SH |  | SOLE |  | 57839 | 0 | 4367 |
| ISHARES TR | IBONDS 23 TRM TS | 46436E882 |  | 7475401 | 302648 | SH |  | SOLE |  | 261214 | 0 | 41434 |
| ISHARES TR | IBONDS 24 TRM HG | 46435U184 |  | 3886298 | 171128 | SH |  | SOLE |  | 150246 | 0 | 20882 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 268504 | 4356 | SH |  | SOLE |  | 4066 | 0 | 290 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 640363 | 2989 | SH |  | SOLE |  | 2989 | 0 | 0 |
| ISHARES TR | BROAD USD HIGH | 46435U853 |  | 1745468 | 50549 | SH |  | SOLE |  | 47576 | 0 | 2973 |
| ISHARES TR | RUS TP200 GR ETF | 464289438 |  | 1073802 | 8909 | SH |  | SOLE |  | 8213 | 0 | 696 |
| ISHARES TR | IBONDS 25 TRM TS | 46436E866 |  | 530202 | 22776 | SH |  | SOLE |  | 20498 | 0 | 2278 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 9737739 | 144370 | SH |  | SOLE |  | 123604 | 0 | 20766 |
| ISHARES TR | MSCI GBL SUS DEV | 46435G532 |  | 852070 | 10798 | SH |  | SOLE |  | 10125 | 0 | 673 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1072663 | 6152 | SH |  | SOLE |  | 5810 | 0 | 342 |
| ISHARES TR | IBONDS DEC25 ETF | 46434VBD1 |  | 1049408 | 43150 | PRN |  | SOLE |  | 43150 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 13709904 | 35684 | SH |  | SOLE |  | 33310 | 0 | 2374 |
| ISHARES TR | IBONDS DEC23 ETF | 46434VAX8 |  | 4560683 | 182209 | PRN |  | SOLE |  | 151100 | 0 | 31109 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 7529470 | 246625 | SH |  | SOLE |  | 222949 | 0 | 23676 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 3114550 | 23723 | SH |  | SOLE |  | 19071 | 0 | 4652 |
| ISHARES TR | IBONDS 23 TRM HG | 46435U150 |  | 1133647 | 48302 | SH |  | SOLE |  | 44514 | 0 | 3788 |
| ISHARES TR | IBONDS 24 TRM TS | 46436E874 |  | 6536952 | 274051 | SH |  | SOLE |  | 241101 | 0 | 32950 |
| ISHARES TR | RUS MDCP VAL ETF | 464287473 |  | 1644637 | 15613 | SH |  | SOLE |  | 12203 | 0 | 3410 |
| ISHARES TR | ESG AWARE MSCI | 46435U663 |  | 236933 | 7206 | SH |  | SOLE |  | 7206 | 0 | 0 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 17588730 | 334577 | SH |  | SOLE |  | 298306 | 0 | 36271 |
| ISHARES TR | U.S. FIN SVC ETF | 464287770 |  | 9462339 | 60071 | SH |  | SOLE |  | 54963 | 0 | 5108 |
| ISHARES TR | S SML 600 GWT | 464287887 |  | 11859992 | 109744 | SH |  | SOLE |  | 99119 | 0 | 10625 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 35829 | 1174 | SH |  | SOLE |  | 0 | 0 | 1174 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 340761 | 1929 | SH |  | SOLE |  | 1623 | 0 | 306 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 14588050 | 108785 | SH |  | SOLE |  | 102704 | 0 | 6081 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 54512 | 407 | SH |  | SOLE |  | 0 | 0 | 407 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 |  | 17632394 | 74878 | SH |  | SOLE |  | 69462 | 0 | 5416 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 |  | 20199 | 86 | SH |  | SOLE |  | 0 | 0 | 86 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 556545 | 1144 | SH |  | SOLE |  | 1144 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 7600496 | 51047 | SH |  | SOLE |  | 46863 | 0 | 4184 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 15495 | 104 | SH |  | SOLE |  | 0 | 0 | 104 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 539448 | 6508 | SH |  | SOLE |  | 5206 | 0 | 1302 |
| MERCK  CO INC | COM | 58933Y105 |  | 357328 | 3221 | SH |  | SOLE |  | 3221 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3295659 | 27386 | SH |  | SOLE |  | 25534 | 0 | 1852 |
| META PLATFORMS INC | CL A | 30303M102 |  | 9627 | 80 | SH |  | SOLE |  | 0 | 0 | 80 |
| MICROSOFT CORP | COM | 594918104 |  | 32237969 | 134426 | SH |  | SOLE |  | 124150 | 0 | 10276 |
| MICROSOFT CORP | COM | 594918104 |  | 125956 | 525 | SH |  | SOLE |  | 0 | 0 | 525 |
| NIKE INC | CL B | 654106103 |  | 7306443 | 62443 | SH |  | SOLE |  | 58770 | 0 | 3673 |
| NUSHARES ETF TR | NUVEEN ESG LRGCP | 67092P201 |  | 924510 | 18910 | SH |  | SOLE |  | 18154 | 0 | 756 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 12654916 | 86595 | SH |  | SOLE |  | 79015 | 0 | 7580 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 5092264 | 71501 | SH |  | SOLE |  | 65808 | 0 | 5693 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 12107 | 170 | SH |  | SOLE |  | 0 | 0 | 170 |
| PEPSICO INC | COM | 713448108 |  | 239219 | 1324 | SH |  | SOLE |  | 1059 | 0 | 265 |
| PEPSICO INC | COM | 713448108 |  | 24904 | 138 | SH |  | SOLE |  | 0 | 0 | 138 |
| PFIZER INC | COM | 717081103 |  | 294317 | 5744 | SH |  | SOLE |  | 5170 | 0 | 574 |
| PINTEREST INC | CL A | 72352L106 |  | 2829227 | 116525 | SH |  | SOLE |  | 106496 | 0 | 10029 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 399321 | 2635 | SH |  | SOLE |  | 2635 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 261434 | 1015 | SH |  | SOLE |  | 1015 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 2954153 | 59764 | SH |  | SOLE |  | 55147 | 0 | 4617 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 5878 | 119 | SH |  | SOLE |  | 0 | 0 | 119 |
| SALESFORCE INC | COM | 79466L302 |  | 4924260 | 37139 | SH |  | SOLE |  | 34520 | 0 | 2619 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 11116071 | 133510 | SH |  | SOLE |  | 128152 | 0 | 5358 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 25671 | 308 | SH |  | SOLE |  | 0 | 0 | 308 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 238333 | 3155 | SH |  | SOLE |  | 3155 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 484008 | 10720 | SH |  | SOLE |  | 10720 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 23351702 | 171894 | SH |  | SOLE |  | 151513 | 0 | 20381 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 103600 | 763 | SH |  | SOLE |  | 0 | 0 | 763 |
| SMARTSHEET INC | COM CL A | 83200N103 |  | 1572314 | 39947 | SH |  | SOLE |  | 36921 | 0 | 3026 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 916367 | 198778 | SH |  | SOLE |  | 178438 | 0 | 20340 |
| SPDR INDEX SHS FDS | PORTFOLIO DEVLPD | 78463X889 |  | 2837830 | 95582 | SH |  | SOLE |  | 90001 | 0 | 5581 |
| SPDR INDEX SHS FDS | PORTFOLIO EMG MK | 78463X509 |  | 1620640 | 49170 | SH |  | SOLE |  | 45429 | 0 | 3741 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 17221494 | 45031 | SH |  | SOLE |  | 38409 | 0 | 6622 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 4571470 | 10325 | SH |  | SOLE |  | 9879 | 0 | 446 |
| SPDR SER TR | PRTFLO S VL | 78464A508 |  | 1937159 | 49811 | SH |  | SOLE |  | 44512 | 0 | 5299 |
| SPDR SER TR | PORTFOLIO S | 78468R853 |  | 1440299 | 38959 | SH |  | SOLE |  | 36103 | 0 | 2856 |
| SPDR SER TR | S 600 SMCP GRW | 78464A201 |  | 866447 | 11994 | SH |  | SOLE |  | 10743 | 0 | 1251 |
| SPDR SER TR | S 500 ESG ETF | 78468R531 |  | 5845684 | 158938 | SH |  | SOLE |  | 145130 | 0 | 13808 |
| SPDR SER TR | S 400 MDCP VAL | 78464A839 |  | 260498 | 4025 | SH |  | SOLE |  | 3565 | 0 | 460 |
| SPDR SER TR | PORTFOLIO S | 78464A847 |  | 980288 | 23066 | SH |  | SOLE |  | 20672 | 0 | 2394 |
| SPDR SER TR | PORTFOLIO SHORT | 78464A474 |  | 4200162 | 142960 | SH |  | SOLE |  | 132928 | 0 | 10032 |
| SPDR SER TR | ICE PFD SEC ETF | 78464A292 |  | 628273 | 19143 | SH |  | SOLE |  | 17867 | 0 | 1276 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 11853361 | 94744 | SH |  | SOLE |  | 88863 | 0 | 5881 |
| SPDR SER TR | PORTFOLIO S | 78464A854 |  | 8547282 | 190024 | SH |  | SOLE |  | 174779 | 0 | 15245 |
| SPDR SER TR | PRTFLO S GW | 78464A409 |  | 7708220 | 152126 | SH |  | SOLE |  | 140826 | 0 | 11300 |
| SPDR SER TR | S 600 SMCP VAL | 78464A300 |  | 278473 | 3752 | SH |  | SOLE |  | 3498 | 0 | 254 |
| SPDR SER TR | PORTFOLI S | 78464A805 |  | 3860287 | 81630 | SH |  | SOLE |  | 76444 | 0 | 5186 |
| SPDR SER TR | SSGA US LRG ETF | 78468R804 |  | 17499167 | 129021 | SH |  | SOLE |  | 119901 | 0 | 9120 |
| SPDR SER TR | S | 78468R705 |  | 2986578 | 17867 | SH |  | SOLE |  | 16421 | 0 | 1446 |
| STARBUCKS CORP | COM | 855244109 |  | 10077243 | 101585 | SH |  | SOLE |  | 95070 | 0 | 6515 |
| STRYKER CORPORATION | COM | 863667101 |  | 18407039 | 75288 | SH |  | SOLE |  | 69828 | 0 | 5460 |
| TARGET CORP | COM | 87612E106 |  | 3728981 | 25020 | SH |  | SOLE |  | 24049 | 0 | 971 |
| TESLA INC | COM | 88160R101 |  | 710995 | 5772 | SH |  | SOLE |  | 5131 | 0 | 641 |
| TEXAS INSTRS INC | COM | 882508104 |  | 24486 | 148 | SH |  | SOLE |  | 0 | 0 | 148 |
| TEXAS INSTRS INC | COM | 882508104 |  | 21081578 | 127597 | SH |  | SOLE |  | 119820 | 0 | 7777 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 57038 | 108 | SH |  | SOLE |  | 0 | 0 | 108 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 23026338 | 43431 | SH |  | SOLE |  | 40597 | 0 | 2834 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 158255 | 1127 | SH |  | SOLE |  | 0 | 0 | 1127 |
| VANGUARD INDEX FDS | SM CP VAL ETF | 922908611 |  | 8990667 | 56617 | SH |  | SOLE |  | 51913 | 0 | 4704 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 275122 | 1439 | SH |  | SOLE |  | 1295 | 0 | 144 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 33422433 | 238103 | SH |  | SOLE |  | 209835 | 0 | 28268 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 14172831 | 69539 | SH |  | SOLE |  | 63699 | 0 | 5840 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 1680649 | 7887 | SH |  | SOLE |  | 7250 | 0 | 637 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 54659116 | 313772 | SH |  | SOLE |  | 277686 | 0 | 36086 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 189682 | 1089 | SH |  | SOLE |  | 0 | 0 | 1089 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 6084528 | 17318 | SH |  | SOLE |  | 16115 | 0 | 1203 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 46415 | 926 | SH |  | SOLE |  | 0 | 0 | 926 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 3908790 | 77957 | SH |  | SOLE |  | 73787 | 0 | 4170 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 481814 | 9736 | SH |  | SOLE |  | 9736 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 20501832 | 272667 | SH |  | SOLE |  | 240714 | 0 | 31953 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000GRW | 92206C680 |  | 3730694 | 67683 | SH |  | SOLE |  | 62985 | 0 | 4698 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 25339 | 337 | SH |  | SOLE |  | 0 | 0 | 337 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 25609515 | 168650 | SH |  | SOLE |  | 156714 | 0 | 11936 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 261703 | 5060 | SH |  | SOLE |  | 5060 | 0 | 0 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 20834057 | 192534 | SH |  | SOLE |  | 179621 | 0 | 12913 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 228661 | 2113 | SH |  | SOLE |  | 0 | 0 | 2113 |
| VISA INC | COM CL A | 92826C839 |  | 18662125 | 89622 | SH |  | SOLE |  | 84821 | 0 | 4801 |
| VISA INC | COM CL A | 92826C839 |  | 25750 | 124 | SH |  | SOLE |  | 0 | 0 | 124 |
| WALMART INC | COM | 931142103 |  | 250549 | 1767 | SH |  | SOLE |  | 1606 | 0 | 161 |
| YETI HLDGS INC | COM | 98585X104 |  | 3956259 | 95770 | SH |  | SOLE |  | 86845 | 0 | 8925 |

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