# EDGAR Filing Document

**Accession Number:** 0001911520
**File Stem:** 0001911520-23-000001
**Filing Date:** 2023-2
**Character Count:** 15175
**Document Hash:** d2de92cd978d1c443bfeb10157b12d7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001911520-23-000001.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001911520-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cladis Investment Advisory, LLC
- **CENTRAL INDEX KEY:** 0001911520
- **IRS NUMBER:** 272441046
- **STATE OF INCORPORATION:** MT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22477
- **FILM NUMBER:** 23625275

**BUSINESS ADDRESS:**
- **STREET 1:** 180 S 32ND ST WEST
- **STREET 2:** SUITE 1
- **CITY:** BILLINGS
- **STATE:** MT
- **ZIP:** 59102
- **BUSINESS PHONE:** 406-259-4939

**MAIL ADDRESS:**
- **STREET 1:** 180 S 32ND ST WEST
- **STREET 2:** SUITE 1
- **CITY:** BILLINGS
- **STATE:** MT
- **ZIP:** 59102

### 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:** Cladis Investment Advisory LLC<br>**Address:** 180 S 32ND ST WEST<br>SUITE 1<br>BILLINGS, MT 59102

**Form 13F File Number:** 028-22477

**CRD Number (if applicable):** 000153873

**SEC File Number (if applicable):** 801-126137

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:** Lexie S. Pankratz<br>**Title:** Compliance Consultant<br>**Phone:** 406-431-0708

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

Lexie S. Pankratz  Clancy, MT  02-14-2023<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:** 123

**Form 13F Information Table Value Total:** $87399

      (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 |
| FTAI AVIATION LTD | SHS | G3730V105 |  | 171 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 |  | 369 | 1510 | SH |  | SOLE |  | 0 | 0 | 1510 |
| AT  T INC | COM | 00206R102 |  | 1206 | 65515 | SH |  | SOLE |  | 0 | 0 | 65515 |
| ARK ETF TR | INNOVATION ETF | 00214Q104 |  | 510 | 16320 | SH |  | SOLE |  | 0 | 0 | 16320 |
| ABBVIE INC | COM | 00287Y109 |  | 276 | 1705 | SH |  | SOLE |  | 0 | 0 | 1705 |
| ACCELERATE DIAGNOSTICS INC | COM | 00430H102 |  | 294 | 417000 | SH |  | SOLE |  | 0 | 0 | 417000 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 429 | 6626 | SH |  | SOLE |  | 0 | 0 | 6626 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 1110 | 12600 | SH |  | SOLE |  | 0 | 0 | 12600 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 448 | 9800 | SH |  | SOLE |  | 0 | 0 | 9800 |
| AMAZON COM INC | COM | 023135106 |  | 1581 | 18825 | SH |  | SOLE |  | 0 | 0 | 18825 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 285 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 369 | 6150 | SH |  | SOLE |  | 0 | 0 | 6150 |
| APPLE INC | COM | 037833100 |  | 8322 | 64048 | SH |  | SOLE |  | 0 | 0 | 64048 |
| ASHLAND INC | COM | 044186104 |  | 215 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| AVINO SILVER  GOLD MINES LTD | COM | 053906103 |  | 7 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| BANK AMERICA CORP | COM | 060505104 |  | 413 | 12458 | SH |  | SOLE |  | 0 | 0 | 12458 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 965 | 3123 | SH |  | SOLE |  | 0 | 0 | 3123 |
| BLACKSTONE INC | COM | 09260D107 |  | 415 | 5600 | SH |  | SOLE |  | 0 | 0 | 5600 |
| BOEING CO | COM | 097023105 |  | 1736 | 9112 | SH |  | SOLE |  | 0 | 0 | 9112 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1896 | 26350 | SH |  | SOLE |  | 0 | 0 | 26350 |
| CVS HEALTH CORP | COM | 126650100 |  | 1567 | 16812 | SH |  | SOLE |  | 0 | 0 | 16812 |
| CATALYST PHARMACEUTICALS INC | COM | 14888U101 |  | 186 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| CATERPILLAR INC | COM | 149123101 |  | 1071 | 4471 | SH |  | SOLE |  | 0 | 0 | 4471 |
| CHESAPEAKE UTILS CORP | COM | 165303108 |  | 945 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| CHEVRON CORP NEW | COM | 166764100 |  | 563 | 3135 | SH |  | SOLE |  | 0 | 0 | 3135 |
| CISCO SYS INC | COM | 17275R102 |  | 300 | 6299 | SH |  | SOLE |  | 0 | 0 | 6299 |
| CITIGROUP INC | COM NEW | 172967424 |  | 214 | 4731 | SH |  | SOLE |  | 0 | 0 | 4731 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 946 | 58750 | SH |  | SOLE |  | 0 | 0 | 58750 |
| COCA COLA CO | COM | 191216100 |  | 534 | 8388 | SH |  | SOLE |  | 0 | 0 | 8388 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 278 | 7950 | SH |  | SOLE |  | 0 | 0 | 7950 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 469 | 3975 | SH |  | SOLE |  | 0 | 0 | 3975 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 256 | 1105 | SH |  | SOLE |  | 0 | 0 | 1105 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 535 | 1173 | SH |  | SOLE |  | 0 | 0 | 1173 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 217 | 2060 | SH |  | SOLE |  | 0 | 0 | 2060 |
| CUMMINS INC | COM | 231021106 |  | 242 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| DADA NEXUS LTD | ADS | 23344D108 |  | 1697 | 243500 | SH |  | SOLE |  | 0 | 0 | 243500 |
| DIMENSIONAL ETF TRUST | US EQUITY ETF | 25434V401 |  | 370 | 8883 | SH |  | SOLE |  | 0 | 0 | 8883 |
| DIMENSIONAL ETF TRUST | US SMALL CAP ETF | 25434V500 |  | 523 | 10232 | SH |  | SOLE |  | 0 | 0 | 10232 |
| DIMENSIONAL ETF TRUST | US MKTWIDE VALUE | 25434V724 |  | 201 | 6003 | SH |  | SOLE |  | 0 | 0 | 6003 |
| DISNEY WALT CO | COM | 254687106 |  | 1299 | 14954 | SH |  | SOLE |  | 0 | 0 | 14954 |
| DOW INC | COM | 260557103 |  | 265 | 5257 | SH |  | SOLE |  | 0 | 0 | 5257 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 219 | 2124 | SH |  | SOLE |  | 0 | 0 | 2124 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 262 | 3812 | SH |  | SOLE |  | 0 | 0 | 3812 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1539 | 13957 | SH |  | SOLE |  | 0 | 0 | 13957 |
| META PLATFORMS INC | CL A | 30303M102 |  | 409 | 3397 | SH |  | SOLE |  | 0 | 0 | 3397 |
| FEDEX CORP | COM | 31428X106 |  | 435 | 2514 | SH |  | SOLE |  | 0 | 0 | 2514 |
| FIRST INTST BANCSYSTEM INC | COM CL A | 32055Y201 |  | 1008 | 26071 | SH |  | SOLE |  | 0 | 0 | 26071 |
| FORD MOTOR CO DEL | COM | 345370860 |  | 1345 | 115657 | SH |  | SOLE |  | 0 | 0 | 115657 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 |  | 30 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 1922 | 22936 | SH |  | SOLE |  | 0 | 0 | 22936 |
| GENERAL MLS INC | COM | 370334104 |  | 590 | 7040 | SH |  | SOLE |  | 0 | 0 | 7040 |
| GENERAL MTRS CO | COM | 37045V100 |  | 346 | 10281 | SH |  | SOLE |  | 0 | 0 | 10281 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 1428 | 28905 | SH |  | SOLE |  | 0 | 0 | 28905 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 209 | 5960 | SH |  | SOLE |  | 0 | 0 | 5960 |
| HOME DEPOT INC | COM | 437076102 |  | 529 | 1674 | SH |  | SOLE |  | 0 | 0 | 1674 |
| HONEYWELL INTL INC | COM | 438516106 |  | 1093 | 5100 | SH |  | SOLE |  | 0 | 0 | 5100 |
| ICAHN ENTERPRISES LP | DEPOSITARY UNIT | 451100101 |  | 296 | 5850 | SH |  | SOLE |  | 0 | 0 | 5850 |
| INTEL CORP | COM | 458140100 |  | 572 | 21647 | SH |  | SOLE |  | 0 | 0 | 21647 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1473 | 10455 | SH |  | SOLE |  | 0 | 0 | 10455 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 405 | 11700 | SH |  | SOLE |  | 0 | 0 | 11700 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 881 | 3310 | SH |  | SOLE |  | 0 | 0 | 3310 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 721 | 5379 | SH |  | SOLE |  | 0 | 0 | 5379 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 559 | 3167 | SH |  | SOLE |  | 0 | 0 | 3167 |
| KRAFT HEINZ CO | COM | 500754106 |  | 1415 | 34747 | SH |  | SOLE |  | 0 | 0 | 34747 |
| KYNDRYL HLDGS INC | COMMON STOCK | 50155Q100 |  | 1142 | 102660 | SH |  | SOLE |  | 0 | 0 | 102660 |
| LILLY ELI  CO | COM | 532457108 |  | 2227 | 6087 | SH |  | SOLE |  | 0 | 0 | 6087 |
| LUMEN TECHNOLOGIES INC | COM | 550241103 |  | 71 | 13540 | SH |  | SOLE |  | 0 | 0 | 13540 |
| MDU RES GROUP INC | COM | 552690109 |  | 2178 | 71795 | SH |  | SOLE |  | 0 | 0 | 71795 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 573 | 23610 | SH |  | SOLE |  | 0 | 0 | 23610 |
| MARATHON PETE CORP | COM | 56585A102 |  | 276 | 2374 | SH |  | SOLE |  | 0 | 0 | 2374 |
| MCDONALDS CORP | COM | 580135101 |  | 369 | 1400 | SH |  | SOLE |  | 0 | 0 | 1400 |
| MERCK  CO INC | COM | 58933Y105 |  | 1135 | 10234 | SH |  | SOLE |  | 0 | 0 | 10234 |
| METLIFE INC | COM | 59156R108 |  | 253 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| MICROSOFT CORP | COM | 594918104 |  | 2563 | 10689 | SH |  | SOLE |  | 0 | 0 | 10689 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 228 | 3415 | SH |  | SOLE |  | 0 | 0 | 3415 |
| MONTROSE ENVIRONMENTAL GROUP | COM | 615111101 |  | 289 | 6500 | SH |  | SOLE |  | 0 | 0 | 6500 |
| NEW GOLD INC CDA | COM | 644535106 |  | 25 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 2115 | 25300 | SH |  | SOLE |  | 0 | 0 | 25300 |
| NVIDIA CORP | COM | 67066G104 |  | 1016 | 6953 | SH |  | SOLE |  | 0 | 0 | 6953 |
| PAYPAL HOLDINGS INC | COM | 70450Y103 |  | 453 | 6361 | SH |  | SOLE |  | 0 | 0 | 6361 |
| PEPSICO INC | COM | 713448108 |  | 723 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| PERKINELMER INC | COM | 714046109 |  | 421 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| PFIZER INC | COM | 717081103 |  | 1916 | 37393 | SH |  | SOLE |  | 0 | 0 | 37393 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 204 | 2020 | SH |  | SOLE |  | 0 | 0 | 2020 |
| PHILLIPS 66 | COM | 718546104 |  | 725 | 6970 | SH |  | SOLE |  | 0 | 0 | 6970 |
| PIONEER NAT RES CO | COM | 723787107 |  | 339 | 1485 | SH |  | SOLE |  | 0 | 0 | 1485 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 546 | 3603 | SH |  | SOLE |  | 0 | 0 | 3603 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 321 | 17400 | SH |  | SOLE |  | 0 | 0 | 17400 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 617 | 1613 | SH |  | SOLE |  | 0 | 0 | 1613 |
| SPDR SER TR | S OILGAS EXP | 78468R556 |  | 377 | 2774 | SH |  | SOLE |  | 0 | 0 | 2774 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 289 | 5415 | SH |  | SOLE |  | 0 | 0 | 5415 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 830 | 9485 | SH |  | SOLE |  | 0 | 0 | 9485 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 578 | 16892 | SH |  | SOLE |  | 0 | 0 | 16892 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 1085 | 8716 | SH |  | SOLE |  | 0 | 0 | 8716 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 533 | 11115 | SH |  | SOLE |  | 0 | 0 | 11115 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 376 | 5336 | SH |  | SOLE |  | 0 | 0 | 5336 |
| SERVICENOW INC | COM | 81762P102 |  | 215 | 555 | SH |  | SOLE |  | 0 | 0 | 555 |
| SHOPIFY INC | CL A | 82509L107 |  | 320 | 9220 | SH |  | SOLE |  | 0 | 0 | 9220 |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 |  | 107 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| SILVERCREST METALS INC | COM | 828363101 |  | 60 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 211 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| SIO GENE THERAPIES INC | COM | 829399104 |  | 65 | 150000 | SH |  | SOLE |  | 0 | 0 | 150000 |
| SNOWFLAKE INC | CL A | 833445109 |  | 672 | 4683 | SH |  | SOLE |  | 0 | 0 | 4683 |
| SOUTHERN CO | COM | 842587107 |  | 357 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 745 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| TEXAS INSTRS INC | COM | 882508104 |  | 666 | 4028 | SH |  | SOLE |  | 0 | 0 | 4028 |
| 3M CO | COM | 88579Y101 |  | 576 | 4806 | SH |  | SOLE |  | 0 | 0 | 4806 |
| TRIMBLE INC | COM | 896239100 |  | 202 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| UNDER ARMOUR INC | CL A | 904311107 |  | 112 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 319 | 6333 | SH |  | SOLE |  | 0 | 0 | 6333 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 208 | 1199 | SH |  | SOLE |  | 0 | 0 | 1199 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1239 | 2336 | SH |  | SOLE |  | 0 | 0 | 2336 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 415 | 3275 | SH |  | SOLE |  | 0 | 0 | 3275 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 225 | 1107 | SH |  | SOLE |  | 0 | 0 | 1107 |
| VANGUARD WORLD FDS | FINANCIALS ETF | 92204A405 |  | 707 | 8544 | SH |  | SOLE |  | 0 | 0 | 8544 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 276 | 1295 | SH |  | SOLE |  | 0 | 0 | 1295 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 200 | 1428 | SH |  | SOLE |  | 0 | 0 | 1428 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1353 | 34333 | SH |  | SOLE |  | 0 | 0 | 34333 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 |  | 227 | 13450 | SH |  | SOLE |  | 0 | 0 | 13450 |
| VIATRIS INC | COM | 92556V106 |  | 631 | 56689 | SH |  | SOLE |  | 0 | 0 | 56689 |
| WALMART INC | COM | 931142103 |  | 223 | 1573 | SH |  | SOLE |  | 0 | 0 | 1573 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 366 | 38602 | SH |  | SOLE |  | 0 | 0 | 38602 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 528 | 12790 | SH |  | SOLE |  | 0 | 0 | 12790 |

---