# EDGAR Filing Document

**Accession Number:** 0000709428
**File Stem:** 0000709428-25-000007
**Filing Date:** 2025-8
**Character Count:** 42626
**Document Hash:** da46455e11aa99777f8a37e4b7d001da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000709428-25-000007.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0000709428-25-000007

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COZAD ASSET MANAGEMENT INC
- **CENTRAL INDEX KEY:** 0000709428

**ORGANIZATION NAME:**
- **EIN:** 370958133
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18895
- **FILM NUMBER:** 251200961

**BUSINESS ADDRESS:**
- **STREET 1:** 2501 GALEN DRIVE
- **STREET 2:** P.O. BOX 3669
- **CITY:** CHAMPAIGN
- **STATE:** IL
- **ZIP:** 61821
- **BUSINESS PHONE:** 2173568363

**MAIL ADDRESS:**
- **STREET 1:** 2501 GALEN DRIVE
- **STREET 2:** P.O. BOX 3669
- **CITY:** CHAMPAIGN
- **STATE:** IL
- **ZIP:** 61821

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COZAD FINANCIAL PLANNING CORP                           /ADV
- **DATE OF NAME CHANGE:** 19910401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COZAD ASSET MANAGEMENT INC                              /ADV
- **DATE OF NAME CHANGE:** 19821118

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** COZAD ASSET MANAGEMENT INC<br>**Address:** 2501 GALEN DRIVE<br>P.O. BOX 3669<br>CHAMPAIGN, IL 61821

**Form 13F File Number:** 028-18895

**CRD Number (if applicable):** 000104764

**SEC File Number (if applicable):** 801-18060

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:** STEPHEN CRAIG KIDDOO<br>**Title:** Chief Compliance Officer<br>**Phone:** 2173568363

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

S. Craig Kiddoo CCO  Champaign, IL  08-11-2025<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:** 406

**Form 13F Information Table Value Total:** $1143957583

      (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 |
| Fidelity Merrimack Str Total Bond Fund ETF | COM | 316188309 |  | 3047731 | 66763 | SH |  | SOLE |  | 0 | 0 | 66763 |
| First Trust Managed Municipal ETF | COM | 33739n108 |  | 502420 | 9964 | SH |  | SOLE |  | 0 | 0 | 9964 |
| JPMorgan Ultra-Short Municipal Inc - ETF | COM | 46641q654 |  | 972862 | 19132 | SH |  | SOLE |  | 0 | 0 | 19132 |
| PIMCO Intermediate Muni Bd Actv - ETF | COM | 72201r866 |  | 254915 | 4945 | SH |  | SOLE |  | 0 | 0 | 4945 |
| iShares National Muni Bond ETF | COM | 464288414 |  | 353751 | 3355 | SH |  | SOLE |  | 0 | 0 | 3355 |
| First Trust Senior Loan Fund ETF | COM | 33738d309 |  | 534314 | 11705 | SH |  | SOLE |  | 0 | 0 | 11705 |
| JPMorgan Ultra-Short Income ETF | COM | 46641q837 |  | 2028548 | 40066 | SH |  | SOLE |  | 0 | 0 | 40066 |
| Janus Henderson AAA CLO - ETF | COM | 47103u845 |  | 1468218 | 28953 | SH |  | SOLE |  | 0 | 0 | 28953 |
| AB Ultra Short Income ETF | COM | 00039j103 |  | 839736 | 16592 | SH |  | SOLE |  | 0 | 0 | 16592 |
| First Tr TCW Opportunistic Fixed Inc ETF | COM | 33740f805 |  | 737915 | 16832 | SH |  | SOLE |  | 0 | 0 | 16832 |
| Morgan Stanley Total Return Bond ETF | COM | 61774r841 |  | 209102 | 4130 | SH |  | SOLE |  | 0 | 0 | 4130 |
| PIMCO MultiSector Bond Active - ETF | COM | 72201r585 |  | 829247 | 31470 | SH |  | SOLE |  | 0 | 0 | 31470 |
| First Trust Water ETF | COM | 33733b100 |  | 1612951 | 16016 | SH |  | SOLE |  | 0 | 0 | 16016 |
| IShares U.S. Aerospace  Defense ETF | COM | 464288760 |  | 205766 | 1344 | SH |  | SOLE |  | 0 | 0 | 1344 |
| Amazon.com Inc. | COM | 023135106 |  | 17909554 | 94132 | SH |  | SOLE |  | 0 | 0 | 94132 |
| AutoZone Inc. | COM | 053332102 |  | 285959 | 75 | SH |  | SOLE |  | 0 | 0 | 75 |
| Best Buy Company Inc. | COM | 086516101 |  | 2048198 | 27825 | SH |  | SOLE |  | 0 | 0 | 27825 |
| Booking Holdings Inc. | COM | 09857l108 |  | 1004306 | 218 | SH |  | SOLE |  | 0 | 0 | 218 |
| Chipotle Mexican Grill A | COM | 169656105 |  | 11764856 | 234313 | SH |  | SOLE |  | 0 | 0 | 234313 |
| Dicks Sporting Goods | COM | 253393102 |  | 2428596 | 12049 | SH |  | SOLE |  | 0 | 0 | 12049 |
| Expedia Group Inc. | COM | 30212p303 |  | 5278508 | 31401 | SH |  | SOLE |  | 0 | 0 | 31401 |
| Ferrari N V New Com. | COM | n3167y103 |  | 220280 | 520 | SH |  | SOLE |  | 0 | 0 | 520 |
| Garmin Ltd. | COM | h2906t109 |  | 4420767 | 20360 | SH |  | SOLE |  | 0 | 0 | 20360 |
| Genuine Parts Co. | COM | 372460105 |  | 1407877 | 11817 | SH |  | SOLE |  | 0 | 0 | 11817 |
| Grupo Aeroportuario del Pacifico ADR | COM | 400506101 |  | 224096 | 1208 | SH |  | SOLE |  | 0 | 0 | 1208 |
| Hilton Worldwide Holdings Inc. | COM | 43300a203 |  | 2391551 | 10510 | SH |  | SOLE |  | 0 | 0 | 10510 |
| Home Depot Inc. | COM | 437076102 |  | 8041045 | 21941 | SH |  | SOLE |  | 0 | 0 | 21941 |
| Lowe's Cos | COM | 548661107 |  | 646047 | 2770 | SH |  | SOLE |  | 0 | 0 | 2770 |
| McDonalds Corp. | COM | 580135101 |  | 2291814 | 7337 | SH |  | SOLE |  | 0 | 0 | 7337 |
| Royal Caribbean Cruises Ltd. | COM | V7780T103 |  | 376161 | 1831 | SH |  | SOLE |  | 0 | 0 | 1831 |
| Tesla Motors Inc. | COM | 88160r101 |  | 1383914 | 5340 | SH |  | SOLE |  | 0 | 0 | 5340 |
| Unilever PLC ADR | COM | 904767704 |  | 634267 | 10651 | SH |  | SOLE |  | 0 | 0 | 10651 |
| W D 40 Co. | COM | 929236107 |  | 338916 | 1389 | SH |  | SOLE |  | 0 | 0 | 1389 |
| Yum Brands Inc. | COM | 988498101 |  | 505748 | 3214 | SH |  | SOLE |  | 0 | 0 | 3214 |
| Altria Group Inc. | COM | 02209S103 |  | 877252 | 14616 | SH |  | SOLE |  | 0 | 0 | 14616 |
| Archer Daniels Midland | COM | 039483102 |  | 6095248 | 126958 | SH |  | SOLE |  | 0 | 0 | 126958 |
| Cal-Maine Foods Inc. | COM | 128030202 |  | 2757815 | 30339 | SH |  | SOLE |  | 0 | 0 | 30339 |
| Caseys General Stores Inc. | COM | 147528103 |  | 338551 | 780 | SH |  | SOLE |  | 0 | 0 | 780 |
| Coca Cola | COM | 191216100 |  | 3646676 | 50917 | SH |  | SOLE |  | 0 | 0 | 50917 |
| Coca Cola European Partners PLC | COM | g25839104 |  | 471877 | 5422 | SH |  | SOLE |  | 0 | 0 | 5422 |
| Colgate Palmolive Co. | COM | 194162103 |  | 955787 | 10201 | SH |  | SOLE |  | 0 | 0 | 10201 |
| Constellation Brands Inc. | COM | 21036p108 |  | 298771 | 1628 | SH |  | SOLE |  | 0 | 0 | 1628 |
| Costco Wholesale Corp. | COM | 22160K105 |  | 16150612 | 17077 | SH |  | SOLE |  | 0 | 0 | 17077 |
| General Mills | COM | 370334104 |  | 2187671 | 36589 | SH |  | SOLE |  | 0 | 0 | 36589 |
| Kimberly Clark Corp | COM | 494368103 |  | 247036 | 1737 | SH |  | SOLE |  | 0 | 0 | 1737 |
| Mondelez International Inc. | COM | 609207105 |  | 771658 | 11373 | SH |  | SOLE |  | 0 | 0 | 11373 |
| PepsiCo Inc | COM | 713448108 |  | 2672032 | 17821 | SH |  | SOLE |  | 0 | 0 | 17821 |
| Philip Morris Internat'l. | COM | 718172109 |  | 2071744 | 13052 | SH |  | SOLE |  | 0 | 0 | 13052 |
| Procter and Gamble | COM | 742718109 |  | 2619149 | 15369 | SH |  | SOLE |  | 0 | 0 | 15369 |
| Target Corp. | COM | 87612E106 |  | 1142951 | 10952 | SH |  | SOLE |  | 0 | 0 | 10952 |
| Wal-Mart Stores | COM | 931142103 |  | 3990538 | 45456 | SH |  | SOLE |  | 0 | 0 | 45456 |
| BP Amoco PLC ADR | COM | 055622104 |  | 1431209 | 42356 | SH |  | SOLE |  | 0 | 0 | 42356 |
| Cheniere Energy Inc | COM | 16411r208 |  | 7707008 | 33306 | SH |  | SOLE |  | 0 | 0 | 33306 |
| Chevron Corp. | COM | 166764100 |  | 769701 | 4601 | SH |  | SOLE |  | 0 | 0 | 4601 |
| Civitas Resources Inc. | COM | 17888h103 |  | 562008 | 16108 | SH |  | SOLE |  | 0 | 0 | 16108 |
| ConocoPhillips | COM | 20825C104 |  | 591088 | 5628 | SH |  | SOLE |  | 0 | 0 | 5628 |
| Enbridge Inc. | COM | 29250n105 |  | 2378624 | 53746 | SH |  | SOLE |  | 0 | 0 | 53746 |
| Energy Select Sector SPDR ETF | COM | 81369y506 |  | 855815 | 9158 | SH |  | SOLE |  | 0 | 0 | 9158 |
| Exxon Mobil Corp. | COM | 30231G102 |  | 1718360 | 14449 | SH |  | SOLE |  | 0 | 0 | 14449 |
| First TR. Ex. Tr. FD N. American Energy | COM | 33738d101 |  | 775999 | 20699 | SH |  | SOLE |  | 0 | 0 | 20699 |
| Helmerich  Payne Inc. | COM | 423452101 |  | 1194703 | 45739 | SH |  | SOLE |  | 0 | 0 | 45739 |
| Marathon Petroleum Corp. | COM | 56585a102 |  | 382145 | 2623 | SH |  | SOLE |  | 0 | 0 | 2623 |
| Phillips 66 | COM | 718546104 |  | 642026 | 5199 | SH |  | SOLE |  | 0 | 0 | 5199 |
| Shell PLC ADR | COM | 780259305 |  | 627570 | 8564 | SH |  | SOLE |  | 0 | 0 | 8564 |
| Targa Resources Corp. | COM | 87612g101 |  | 5248305 | 26180 | SH |  | SOLE |  | 0 | 0 | 26180 |
| Williams Companies | COM | 969457100 |  | 2789119 | 46672 | SH |  | SOLE |  | 0 | 0 | 46672 |
| AFLAC Inc. | COM | 001055102 |  | 1361741 | 12247 | SH |  | SOLE |  | 0 | 0 | 12247 |
| AGNC Investment Corp | COM | 00123q104 |  | 1093116 | 114104 | SH |  | SOLE |  | 0 | 0 | 114104 |
| American Express | COM | 025816109 |  | 1342284 | 4989 | SH |  | SOLE |  | 0 | 0 | 4989 |
| Axis Capital Holdings Ltd. | COM | g0692u109 |  | 1174312 | 11715 | SH |  | SOLE |  | 0 | 0 | 11715 |
| Bank of America | COM | 060505104 |  | 468795 | 11234 | SH |  | SOLE |  | 0 | 0 | 11234 |
| Bank of Montreal | COM | 063671101 |  | 267141 | 2797 | SH |  | SOLE |  | 0 | 0 | 2797 |
| Barings BDC Inc. | COM | 06759l103 |  | 151438 | 15874 | SH |  | SOLE |  | 0 | 0 | 15874 |
| Berkshire Hathaway Cl. A | COM | 084670108 |  | 798442 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| Berkshire Hathaway Cl. B | COM | 084670702 |  | 7104617 | 13340 | SH |  | SOLE |  | 0 | 0 | 13340 |
| Blackstone Group Inc. Cl. A | COM | 09260d107 |  | 12993294 | 92955 | SH |  | SOLE |  | 0 | 0 | 92955 |
| CME Group Inc. | COM | 12572q105 |  | 262637 | 990 | SH |  | SOLE |  | 0 | 0 | 990 |
| Capital Southwest Corp. | COM | 140501107 |  | 1052410 | 47151 | SH |  | SOLE |  | 0 | 0 | 47151 |
| Charles Schwab Corp. | COM | 808513105 |  | 569388 | 7274 | SH |  | SOLE |  | 0 | 0 | 7274 |
| Discover Financial Services Inc. | COM | 254709108 |  | 347545 | 2036 | SH |  | SOLE |  | 0 | 0 | 2036 |
| Essent Group Ltd. | COM | g3198u102 |  | 1558844 | 27007 | SH |  | SOLE |  | 0 | 0 | 27007 |
| Fifth Third Bancorp | COM | 316773100 |  | 550368 | 14040 | SH |  | SOLE |  | 0 | 0 | 14040 |
| First Busey Corp. | COM | 319383204 |  | 7658712 | 354570 | SH |  | SOLE |  | 0 | 0 | 354570 |
| Gallagher Arthur J  Co. | COM | 363576109 |  | 558080 | 1617 | SH |  | SOLE |  | 0 | 0 | 1617 |
| Goldman Sachs Group | COM | 38141G104 |  | 11377036 | 20826 | SH |  | SOLE |  | 0 | 0 | 20826 |
| Interactive Brokers Group Inc. | COM | 45841n107 |  | 8516294 | 51430 | SH |  | SOLE |  | 0 | 0 | 51430 |
| Intercontinental Exchange Group | COM | 45866f104 |  | 5883113 | 34105 | SH |  | SOLE |  | 0 | 0 | 34105 |
| Invesco PLC | COM | g491bt108 |  | 1274447 | 84011 | SH |  | SOLE |  | 0 | 0 | 84011 |
| J.P. Morgan Chase  Co. | COM | 46625H100 |  | 3015718 | 12294 | SH |  | SOLE |  | 0 | 0 | 12294 |
| KeyCorp | COM | 493267108 |  | 2167317 | 135542 | SH |  | SOLE |  | 0 | 0 | 135542 |
| M  T Bank Corp. | COM | 55261f104 |  | 1677926 | 9387 | SH |  | SOLE |  | 0 | 0 | 9387 |
| MGIC Investment Corp. | COM | 552848103 |  | 2043557 | 82468 | SH |  | SOLE |  | 0 | 0 | 82468 |
| MasterCard Inc. | COM | 57636q104 |  | 13178723 | 24044 | SH |  | SOLE |  | 0 | 0 | 24044 |
| Mitsubishi UFJ Fin'l. Grp. ADR | COM | 606822104 |  | 244618 | 17947 | SH |  | SOLE |  | 0 | 0 | 17947 |
| Moody's Corp. | COM | 615369105 |  | 498288 | 1070 | SH |  | SOLE |  | 0 | 0 | 1070 |
| Morgan Stanley | COM | 617446448 |  | 204756 | 1755 | SH |  | SOLE |  | 0 | 0 | 1755 |
| Old Republic Nat'l. Corp. | COM | 680223104 |  | 2089014 | 53264 | SH |  | SOLE |  | 0 | 0 | 53264 |
| S Global Inc. | COM | 78409v104 |  | 1879970 | 3700 | SH |  | SOLE |  | 0 | 0 | 3700 |
| Sun Life Financial Inc. | COM | 866796105 |  | 250971 | 4383 | SH |  | SOLE |  | 0 | 0 | 4383 |
| Swiss Re Ltd. | COM | 870886108 |  | 239880 | 5629 | SH |  | SOLE |  | 0 | 0 | 5629 |
| Travelers Companies Inc. | COM | 89417E109 |  | 414673 | 1568 | SH |  | SOLE |  | 0 | 0 | 1568 |
| Visa Inc. | COM | 92826c839 |  | 2782652 | 7940 | SH |  | SOLE |  | 0 | 0 | 7940 |
| Wells Fargo  Co. | COM | 949746101 |  | 226856 | 3160 | SH |  | SOLE |  | 0 | 0 | 3160 |
| AbbVie Inc. | COM | 00287y109 |  | 3833483 | 18297 | SH |  | SOLE |  | 0 | 0 | 18297 |
| Abbott Laboratories | COM | 002824100 |  | 2118487 | 15971 | SH |  | SOLE |  | 0 | 0 | 15971 |
| Amgen Inc. | COM | 031162100 |  | 544901 | 1749 | SH |  | SOLE |  | 0 | 0 | 1749 |
| AstraZeneca PLC ADR | COM | 046353108 |  | 1386504 | 18864 | SH |  | SOLE |  | 0 | 0 | 18864 |
| Becton Dickinson  Co. | COM | 075887109 |  | 562800 | 2457 | SH |  | SOLE |  | 0 | 0 | 2457 |
| Bristol-Myers Squibb | COM | 110122108 |  | 387713 | 6357 | SH |  | SOLE |  | 0 | 0 | 6357 |
| CVS Health Corp. | COM | 126650100 |  | 428858 | 6330 | SH |  | SOLE |  | 0 | 0 | 6330 |
| Cardinal Health | COM | 14149y108 |  | 3852463 | 27963 | SH |  | SOLE |  | 0 | 0 | 27963 |
| Cencora Inc. | COM | 03073E105 |  | 6525104 | 23464 | SH |  | SOLE |  | 0 | 0 | 23464 |
| DaVita HealthCare Partners Inc. | COM | 23918k108 |  | 235268 | 1538 | SH |  | SOLE |  | 0 | 0 | 1538 |
| Danaher Corp. | COM | 235851102 |  | 406515 | 1983 | SH |  | SOLE |  | 0 | 0 | 1983 |
| Elevance Health | COM | 036752103 |  | 293565 | 675 | SH |  | SOLE |  | 0 | 0 | 675 |
| First Trust NYSE Arca Biotech ETF | COM | 33733e203 |  | 227954 | 1340 | SH |  | SOLE |  | 0 | 0 | 1340 |
| Gilead Sciences Inc. | COM | 375558103 |  | 614090 | 5481 | SH |  | SOLE |  | 0 | 0 | 5481 |
| HCA Healthcare Co. | COM | 40412c101 |  | 10241756 | 29639 | SH |  | SOLE |  | 0 | 0 | 29639 |
| Health Care Select Sector SPDR ETF | COM | 81369y209 |  | 269388 | 1845 | SH |  | SOLE |  | 0 | 0 | 1845 |
| IShares US Healthcare ETF | COM | 464287762 |  | 615902 | 10115 | SH |  | SOLE |  | 0 | 0 | 10115 |
| Intuitive Surgical Inc. | COM | 46120e602 |  | 785498 | 1586 | SH |  | SOLE |  | 0 | 0 | 1586 |
| Johnson  Johnson | COM | 478160104 |  | 2949298 | 17784 | SH |  | SOLE |  | 0 | 0 | 17784 |
| Lilly (Eli) | COM | 532457108 |  | 16572596 | 20066 | SH |  | SOLE |  | 0 | 0 | 20066 |
| Merck  Co Inc. | COM | 58933y105 |  | 1992492 | 22198 | SH |  | SOLE |  | 0 | 0 | 22198 |
| Microport Scientific Corp. | COM | g60837104 |  | 516988 | 504670 | SH |  | SOLE |  | 0 | 0 | 504670 |
| Novartis AG ADR | COM | 66987v109 |  | 240574 | 2158 | SH |  | SOLE |  | 0 | 0 | 2158 |
| Novo Nordisk A.S. ADR | COM | 670100205 |  | 992228 | 14289 | SH |  | SOLE |  | 0 | 0 | 14289 |
| Pfizer Inc. | COM | 717081103 |  | 926861 | 36577 | SH |  | SOLE |  | 0 | 0 | 36577 |
| Regeneron Pharmaceuticals | COM | 75886f107 |  | 202954 | 320 | SH |  | SOLE |  | 0 | 0 | 320 |
| Stryker Corporation | COM | 863667101 |  | 330558 | 888 | SH |  | SOLE |  | 0 | 0 | 888 |
| Tenet Healthcare Corp. | COM | 88033g407 |  | 758715 | 5641 | SH |  | SOLE |  | 0 | 0 | 5641 |
| Thermo Fisher Scientific Inc. | COM | 883556102 |  | 4764520 | 9575 | SH |  | SOLE |  | 0 | 0 | 9575 |
| United Therapeutics Corp. | COM | 91307c102 |  | 556427 | 1805 | SH |  | SOLE |  | 0 | 0 | 1805 |
| UnitedHealth Group | COM | 91324p102 |  | 12441681 | 23755 | SH |  | SOLE |  | 0 | 0 | 23755 |
| Universal Health Svcs. Cl. B | COM | 913903100 |  | 6065788 | 32282 | SH |  | SOLE |  | 0 | 0 | 32282 |
| Vanguard World Health Care ETF | COM | 92204a504 |  | 2440364 | 9218 | SH |  | SOLE |  | 0 | 0 | 9218 |
| Vertex Pharmaceutical | COM | 92532F100 |  | 436338 | 900 | SH |  | SOLE |  | 0 | 0 | 900 |
| 3M Company | COM | 88579y101 |  | 763819 | 5201 | SH |  | SOLE |  | 0 | 0 | 5201 |
| ABB Ltd. Sponsored ADR | COM | 000375204 |  | 214921 | 4122 | SH |  | SOLE |  | 0 | 0 | 4122 |
| CSX Corp. | COM | 126408103 |  | 220990 | 7509 | SH |  | SOLE |  | 0 | 0 | 7509 |
| Caterpillar Inc. | COM | 149123101 |  | 1970344 | 5974 | SH |  | SOLE |  | 0 | 0 | 5974 |
| Cummins Engine Inc. | COM | 231021106 |  | 1214267 | 3874 | SH |  | SOLE |  | 0 | 0 | 3874 |
| Deere  Co. | COM | 244199105 |  | 1117992 | 2382 | SH |  | SOLE |  | 0 | 0 | 2382 |
| Delta Airlines Inc. | COM | 247361702 |  | 1068549 | 24508 | SH |  | SOLE |  | 0 | 0 | 24508 |
| Eaton Corp. PLC | COM | g29183103 |  | 1475493 | 5428 | SH |  | SOLE |  | 0 | 0 | 5428 |
| Emerson Electric Co. | COM | 291011104 |  | 388455 | 3543 | SH |  | SOLE |  | 0 | 0 | 3543 |
| Fastenal Company | COM | 311900104 |  | 231448 | 2985 | SH |  | SOLE |  | 0 | 0 | 2985 |
| First Solar Inc. | COM | 336433107 |  | 887791 | 7022 | SH |  | SOLE |  | 0 | 0 | 7022 |
| General Dynamics | COM | 369550108 |  | 239870 | 880 | SH |  | SOLE |  | 0 | 0 | 880 |
| General Electric | COM | 369604301 |  | 352864 | 1763 | SH |  | SOLE |  | 0 | 0 | 1763 |
| H Equipment Services Inc. | COM | 404030108 |  | 302759 | 3194 | SH |  | SOLE |  | 0 | 0 | 3194 |
| Illinois Tool Works | COM | 452308109 |  | 1591132 | 6416 | SH |  | SOLE |  | 0 | 0 | 6416 |
| Industrial Select Sector SPDR ETF | COM | 81369y704 |  | 457828 | 3493 | SH |  | SOLE |  | 0 | 0 | 3493 |
| Lockheed Martin Corp. | COM | 539830109 |  | 349551 | 783 | SH |  | SOLE |  | 0 | 0 | 783 |
| Masco Corp. | COM | 574599106 |  | 457538 | 6580 | SH |  | SOLE |  | 0 | 0 | 6580 |
| Norfolk Southern Corp. | COM | 655844108 |  | 275930 | 1165 | SH |  | SOLE |  | 0 | 0 | 1165 |
| Northrop Grumman | COM | 666807102 |  | 329222 | 643 | SH |  | SOLE |  | 0 | 0 | 643 |
| Owens Corning | COM | 690742101 |  | 7159281 | 50128 | SH |  | SOLE |  | 0 | 0 | 50128 |
| Quanta Services Inc. | COM | 74762e102 |  | 3699590 | 14555 | SH |  | SOLE |  | 0 | 0 | 14555 |
| RPM Inc. Ohio | COM | 749685103 |  | 3113425 | 26914 | SH |  | SOLE |  | 0 | 0 | 26914 |
| RTX Corp. | COM | 75513e101 |  | 551431 | 4163 | SH |  | SOLE |  | 0 | 0 | 4163 |
| Saia Inc. | COM | 78709Y105 |  | 237612 | 680 | SH |  | SOLE |  | 0 | 0 | 680 |
| Snap-on Incorporated | COM | 833034101 |  | 2746969 | 8151 | SH |  | SOLE |  | 0 | 0 | 8151 |
| Terex Corp. | COM | 880779103 |  | 1141712 | 30220 | SH |  | SOLE |  | 0 | 0 | 30220 |
| Timken Co. | COM | 887389104 |  | 2206553 | 30702 | SH |  | SOLE |  | 0 | 0 | 30702 |
| Union Pacific Corp. | COM | 907818108 |  | 583277 | 2469 | SH |  | SOLE |  | 0 | 0 | 2469 |
| United Rentals Inc. | COM | 911363109 |  | 12844217 | 20495 | SH |  | SOLE |  | 0 | 0 | 20495 |
| Waste Management Inc. | COM | 94106L109 |  | 753102 | 3253 | SH |  | SOLE |  | 0 | 0 | 3253 |
| American Tower Corp. | COM | 03027x100 |  | 309862 | 1424 | SH |  | SOLE |  | 0 | 0 | 1424 |
| Apple Hospitality REIT Inc. | COM | 03784Y200 |  | 1279136 | 99081 | SH |  | SOLE |  | 0 | 0 | 99081 |
| Digital Realty Trust Inc. | COM | 253868103 |  | 2902482 | 20256 | SH |  | SOLE |  | 0 | 0 | 20256 |
| Essex Property Trust | COM | 297178105 |  | 2114413 | 6897 | SH |  | SOLE |  | 0 | 0 | 6897 |
| Farmland Partners Inc. | COM | 31154r109 |  | 372577 | 33415 | SH |  | SOLE |  | 0 | 0 | 33415 |
| IShares Cohen  Steers REIT ETF | COM | 464287564 |  | 342907 | 5573 | SH |  | SOLE |  | 0 | 0 | 5573 |
| IShares Residential Real Estate Capped ETF | COM | 464288562 |  | 415507 | 4808 | SH |  | SOLE |  | 0 | 0 | 4808 |
| Realty Income Corp. | COM | 756109104 |  | 273053 | 4707 | SH |  | SOLE |  | 0 | 0 | 4707 |
| Vanguard REIT ETF | COM | 922908553 |  | 528075 | 5833 | SH |  | SOLE |  | 0 | 0 | 5833 |
| W. P. Carey Inc. | COM | 92936u109 |  | 1621805 | 25698 | SH |  | SOLE |  | 0 | 0 | 25698 |
| ASML Hldg N V | COM | n07059210 |  | 1492905 | 2253 | SH |  | SOLE |  | 0 | 0 | 2253 |
| Adobe Systems Inc. | COM | 00724F101 |  | 314495 | 820 | SH |  | SOLE |  | 0 | 0 | 820 |
| Advanced Micro Devices | COM | 007903107 |  | 215035 | 2093 | SH |  | SOLE |  | 0 | 0 | 2093 |
| Analog Devices Inc. | COM | 032654105 |  | 275885 | 1368 | SH |  | SOLE |  | 0 | 0 | 1368 |
| AppLovin Corporation | COM | 03831w108 |  | 10846017 | 40933 | SH |  | SOLE |  | 0 | 0 | 40933 |
| Apple Inc. | COM | 037833100 |  | 31954188 | 143854 | SH |  | SOLE |  | 0 | 0 | 143854 |
| Applied Materials | COM | 038222105 |  | 553197 | 3812 | SH |  | SOLE |  | 0 | 0 | 3812 |
| Arista Networks Inc. | COM | 040413205 |  | 426605 | 5506 | SH |  | SOLE |  | 0 | 0 | 5506 |
| Autodesk | COM | 052769106 |  | 253946 | 970 | SH |  | SOLE |  | 0 | 0 | 970 |
| Automatic Data Processing | COM | 053015103 |  | 1635349 | 5353 | SH |  | SOLE |  | 0 | 0 | 5353 |
| Avnet Inc. | COM | 053807103 |  | 2349725 | 48861 | SH |  | SOLE |  | 0 | 0 | 48861 |
| Broadcom Inc. | COM | 11135f101 |  | 15842896 | 94624 | SH |  | SOLE |  | 0 | 0 | 94624 |
| Cisco Systems | COM | 17275r102 |  | 1688386 | 27360 | SH |  | SOLE |  | 0 | 0 | 27360 |
| Corning Inc. | COM | 219350105 |  | 2534198 | 55356 | SH |  | SOLE |  | 0 | 0 | 55356 |
| Crowdstrike Holdings Inc. | COM | 22788c105 |  | 535922 | 1520 | SH |  | SOLE |  | 0 | 0 | 1520 |
| Fiserv Inc. | COM | 337738108 |  | 11091849 | 50228 | SH |  | SOLE |  | 0 | 0 | 50228 |
| Flextronics Internat'l. Ltd. | COM | Y2573F102 |  | 11241709 | 339834 | SH |  | SOLE |  | 0 | 0 | 339834 |
| Gen Digital Inc. | COM | 668771108 |  | 7282576 | 274400 | SH |  | SOLE |  | 0 | 0 | 274400 |
| Hewlett Packard Enterprise Co. | COM | 42824c109 |  | 2039429 | 132173 | SH |  | SOLE |  | 0 | 0 | 132173 |
| Honeywell Internat'l. | COM | 438516106 |  | 641391 | 3029 | SH |  | SOLE |  | 0 | 0 | 3029 |
| I.B.M. | COM | 459200101 |  | 2533348 | 10188 | SH |  | SOLE |  | 0 | 0 | 10188 |
| Infosys Technologies Ltd. | COM | 456788108 |  | 250664 | 13735 | SH |  | SOLE |  | 0 | 0 | 13735 |
| Invesco QQQ Tr Unit Ser. 1 ETF | COM | 46090e103 |  | 6162672 | 13142 | SH |  | SOLE |  | 0 | 0 | 13142 |
| Jabil Circuit Inc. | COM | 466313103 |  | 3012590 | 22140 | SH |  | SOLE |  | 0 | 0 | 22140 |
| LAM Research Corp. | COM | 512807306 |  | 11714878 | 161140 | SH |  | SOLE |  | 0 | 0 | 161140 |
| Leidos Holdings Inc. | COM | 525327102 |  | 766864 | 5683 | SH |  | SOLE |  | 0 | 0 | 5683 |
| Logitech Internat'l. SA | COM | H50430232 |  | 326498 | 3868 | SH |  | SOLE |  | 0 | 0 | 3868 |
| MercadoLibre Inc. | COM | 58733r102 |  | 444798 | 228 | SH |  | SOLE |  | 0 | 0 | 228 |
| Microchip Technology Inc. | COM | 595017104 |  | 2027043 | 41872 | SH |  | SOLE |  | 0 | 0 | 41872 |
| Micron Technology Inc. | COM | 595112103 |  | 415769 | 4785 | SH |  | SOLE |  | 0 | 0 | 4785 |
| Microsoft Corporation | COM | 594918104 |  | 10086534 | 26869 | SH |  | SOLE |  | 0 | 0 | 26869 |
| Motorola Solutions Inc. | COM | 620076307 |  | 460138 | 1051 | SH |  | SOLE |  | 0 | 0 | 1051 |
| Nvidia Corp. | COM | 67066g104 |  | 19634481 | 181163 | SH |  | SOLE |  | 0 | 0 | 181163 |
| Oracle Corp | COM | 68389X105 |  | 1215578 | 8695 | SH |  | SOLE |  | 0 | 0 | 8695 |
| Palantir Technologies Inc. | COM | 69608a108 |  | 1215332 | 14400 | SH |  | SOLE |  | 0 | 0 | 14400 |
| Palo Alto Networks Inc. | COM | 697435105 |  | 1383549 | 8108 | SH |  | SOLE |  | 0 | 0 | 8108 |
| PayChex Inc. | COM | 704326107 |  | 3505627 | 22723 | SH |  | SOLE |  | 0 | 0 | 22723 |
| Qualcomm Inc. | COM | 747525103 |  | 268433 | 1748 | SH |  | SOLE |  | 0 | 0 | 1748 |
| Salesforce.com | COM | 79466l302 |  | 3845330 | 14329 | SH |  | SOLE |  | 0 | 0 | 14329 |
| Seagate Technology Holdings PLC | COM | g7997r103 |  | 216198 | 2545 | SH |  | SOLE |  | 0 | 0 | 2545 |
| ServiceNow Inc. | COM | 81762p102 |  | 240434 | 302 | SH |  | SOLE |  | 0 | 0 | 302 |
| Siemens AG ADR | COM | 826197501 |  | 270566 | 2345 | SH |  | SOLE |  | 0 | 0 | 2345 |
| Taiwan Semiconductor Mfg. Co. Ltd. | COM | 874039100 |  | 7561798 | 45553 | SH |  | SOLE |  | 0 | 0 | 45553 |
| Technology Select Sector SPDR ETF | COM | 81369y803 |  | 519917 | 2518 | SH |  | SOLE |  | 0 | 0 | 2518 |
| United Microelectronics ADR | COM | 910873405 |  | 91727 | 12829 | SH |  | SOLE |  | 0 | 0 | 12829 |
| Vanguard Information Technology ETF | COM | 92204a702 |  | 2756322 | 5082 | SH |  | SOLE |  | 0 | 0 | 5082 |
| Air Products  Chem | COM | 009158106 |  | 437661 | 1484 | SH |  | SOLE |  | 0 | 0 | 1484 |
| Corteva Inc. | COM | 22052l104 |  | 270033 | 4291 | SH |  | SOLE |  | 0 | 0 | 4291 |
| Dow Inc. | COM | 260557103 |  | 268814 | 7698 | SH |  | SOLE |  | 0 | 0 | 7698 |
| International Paper | COM | 460146103 |  | 2078036 | 38951 | SH |  | SOLE |  | 0 | 0 | 38951 |
| Linde PLC | COM | g54950103 |  | 656785 | 1411 | SH |  | SOLE |  | 0 | 0 | 1411 |
| Materials Select Sector SPDR ETF | COM | 81369y100 |  | 302048 | 3513 | SH |  | SOLE |  | 0 | 0 | 3513 |
| Nucor Corp. | COM | 670346105 |  | 2312213 | 19214 | SH |  | SOLE |  | 0 | 0 | 19214 |
| Rio Tinto PLC ADR F | COM | 767204100 |  | 575386 | 9577 | SH |  | SOLE |  | 0 | 0 | 9577 |
| Sherwin Williams Company | COM | 824348106 |  | 2985225 | 8549 | SH |  | SOLE |  | 0 | 0 | 8549 |
| Sprott Physical Gold Trust | COM | 85207H104 |  | 737896 | 30669 | SH |  | SOLE |  | 0 | 0 | 30669 |
| AT Inc. | COM | 00206R102 |  | 681889 | 24112 | SH |  | SOLE |  | 0 | 0 | 24112 |
| Alphabet Inc. Cl. A | COM | 02079k305 |  | 15563279 | 100642 | SH |  | SOLE |  | 0 | 0 | 100642 |
| Alphabet Inc. Cl. C | COM | 02079k107 |  | 2808394 | 17976 | SH |  | SOLE |  | 0 | 0 | 17976 |
| Meta Platforms Inc. | COM | 30303m102 |  | 13346769 | 23157 | SH |  | SOLE |  | 0 | 0 | 23157 |
| Netflix Inc. | COM | 64110L106 |  | 1215087 | 1303 | SH |  | SOLE |  | 0 | 0 | 1303 |
| Omnicom Group | COM | 681919106 |  | 1901458 | 22934 | SH |  | SOLE |  | 0 | 0 | 22934 |
| T-Mobile US Inc. | COM | 872590104 |  | 5595442 | 20980 | SH |  | SOLE |  | 0 | 0 | 20980 |
| Verizon Communications | COM | 92343V104 |  | 351177 | 7742 | SH |  | SOLE |  | 0 | 0 | 7742 |
| Walt Disney Co | COM | 254687106 |  | 546305 | 5535 | SH |  | SOLE |  | 0 | 0 | 5535 |
| Allete Inc. | COM | 018522300 |  | 2294375 | 34922 | SH |  | SOLE |  | 0 | 0 | 34922 |
| Alliant Energy Corp. | COM | 018802108 |  | 1804181 | 28037 | SH |  | SOLE |  | 0 | 0 | 28037 |
| Ameren Corp. | COM | 023608102 |  | 512779 | 5107 | SH |  | SOLE |  | 0 | 0 | 5107 |
| American Electric Power | COM | 025537101 |  | 246185 | 2253 | SH |  | SOLE |  | 0 | 0 | 2253 |
| American States Water Co. | COM | 029899101 |  | 2117515 | 26913 | SH |  | SOLE |  | 0 | 0 | 26913 |
| Black Hills Corp. | COM | 092113109 |  | 1103769 | 18199 | SH |  | SOLE |  | 0 | 0 | 18199 |
| Duke Energy Corp | COM | 26441c204 |  | 295478 | 2423 | SH |  | SOLE |  | 0 | 0 | 2423 |
| Essentials Utilities Inc. | COM | 29670g102 |  | 237180 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| Eversource Energy Com. | COM | 30040w108 |  | 239993 | 3864 | SH |  | SOLE |  | 0 | 0 | 3864 |
| National Fuel Gas Co. | COM | 636180101 |  | 2368177 | 29905 | SH |  | SOLE |  | 0 | 0 | 29905 |
| National Grid PLC ADR | COM | 636274409 |  | 208640 | 3180 | SH |  | SOLE |  | 0 | 0 | 3180 |
| NextEra Energy | COM | 65339F101 |  | 1111555 | 15680 | SH |  | SOLE |  | 0 | 0 | 15680 |
| Southern Company | COM | 842587107 |  | 473543 | 5150 | SH |  | SOLE |  | 0 | 0 | 5150 |
| Veolia Environment ADR | COM | 92334n103 |  | 283520 | 16455 | SH |  | SOLE |  | 0 | 0 | 16455 |
| Wisconsin Energy | COM | 92939u106 |  | 239102 | 2194 | SH |  | SOLE |  | 0 | 0 | 2194 |
| Vanguard S Mid-Cap 400 Index Fund - ETF | COM | 921932885 |  | 235498 | 2386 | SH |  | SOLE |  | 0 | 0 | 2386 |
| Invesco ETF Trust II - S Momentum ETF | COM | 46138e339 |  | 763280 | 8249 | SH |  | SOLE |  | 0 | 0 | 8249 |
| IShares US Real Estate ETF | COM | 464287739 |  | 260919 | 2725 | SH |  | SOLE |  | 0 | 0 | 2725 |
| First Trust Preferred Secs  Inc ETF | COM | 33739e108 |  | 192546 | 10946 | SH |  | SOLE |  | 0 | 0 | 10946 |
| First Trust NASDAQ Cybersecurity - ETF | COM | 33734X846 |  | 236439 | 3753 | SH |  | SOLE |  | 0 | 0 | 3753 |
| IShares S SmallCap 600 Barra Growth ETF | COM | 464287887 |  | 288840 | 2320 | SH |  | SOLE |  | 0 | 0 | 2320 |
| Vanguard Small Cap Growth ETF | COM | 922908595 |  | 637642 | 2533 | SH |  | SOLE |  | 0 | 0 | 2533 |
| IShares Russell 2000 Index ETF | COM | 464287655 |  | 2950862 | 14792 | SH |  | SOLE |  | 0 | 0 | 14792 |
| IShares S SmallCap 600 Index ETF | COM | 464287804 |  | 6354617 | 60769 | SH |  | SOLE |  | 0 | 0 | 60769 |
| JPMorgan Market Expansion Enh Eq - ETF | COM | 46641q118 |  | 647036 | 11558 | SH |  | SOLE |  | 0 | 0 | 11558 |
| John Hancock Multifactor Mid Cap ETF | COM | 47804J206 |  | 507678 | 8860 | SH |  | SOLE |  | 0 | 0 | 8860 |
| Schwab Fundamental US Small Company ETF | COM | 808524763 |  | 272830 | 9961 | SH |  | SOLE |  | 0 | 0 | 9961 |
| Schwab Strategic US Small-Cap ETF | COM | 808524607 |  | 890494 | 38007 | SH |  | SOLE |  | 0 | 0 | 38007 |
| Vanguard Index Small Cap ETF | COM | 922908751 |  | 6544484 | 29513 | SH |  | SOLE |  | 0 | 0 | 29513 |
| iShares MSCI Multifactor USA Small-Cap ETF | COM | 46434v290 |  | 3820268 | 61459 | SH |  | SOLE |  | 0 | 0 | 61459 |
| Avantis U.S. Small Cap Value - ETF | COM | 025072877 |  | 2472993 | 28370 | SH |  | SOLE |  | 0 | 0 | 28370 |
| First Trust SMID Cap Rising Div Achv ETF | COM | 33741x102 |  | 2848147 | 85019 | SH |  | SOLE |  | 0 | 0 | 85019 |
| IShares Russell 2000 Value Index ETF | COM | 464287630 |  | 1303310 | 8632 | SH |  | SOLE |  | 0 | 0 | 8632 |
| IShares S SmallCap 600 Barra Value ETF | COM | 464287879 |  | 510898 | 5241 | SH |  | SOLE |  | 0 | 0 | 5241 |
| Pacer U.S. Small Cap Cash Cows 100 - ETF | COM | 69374H857 |  | 3827067 | 102055 | SH |  | SOLE |  | 0 | 0 | 102055 |
| Vanguard Small Cap Value ETF | COM | 922908611 |  | 613816 | 3295 | SH |  | SOLE |  | 0 | 0 | 3295 |
| IShares Russell Midcap Growth Index ETF | COM | 464287481 |  | 245319 | 2088 | SH |  | SOLE |  | 0 | 0 | 2088 |
| Vanguard Mid-Cap Growth ETF | COM | 922908538 |  | 1301846 | 5321 | SH |  | SOLE |  | 0 | 0 | 5321 |
| First Trust Mid Cap Core AlphaDEX ETF | COM | 33735b108 |  | 1583850 | 14533 | SH |  | SOLE |  | 0 | 0 | 14533 |
| IShares Russell Midcap Index ETF | COM | 464287499 |  | 2528349 | 29721 | SH |  | SOLE |  | 0 | 0 | 29721 |
| IShares S Midcap 400 Index ETF | COM | 464287507 |  | 3989613 | 68374 | SH |  | SOLE |  | 0 | 0 | 68374 |
| SPDR S MidCap 400 ETF | COM | 78467y107 |  | 1281952 | 2403 | SH |  | SOLE |  | 0 | 0 | 2403 |
| Schwab US Mid-Cap ETF | COM | 808524508 |  | 534008 | 20382 | SH |  | SOLE |  | 0 | 0 | 20382 |
| Vanguard Extended Market ETF | COM | 922908652 |  | 327294 | 1900 | SH |  | SOLE |  | 0 | 0 | 1900 |
| Vanguard Mid Cap ETF | COM | 922908629 |  | 9801472 | 37899 | SH |  | SOLE |  | 0 | 0 | 37899 |
| IShares Russell Midcap Value Index ETF | COM | 464287473 |  | 1073228 | 8520 | SH |  | SOLE |  | 0 | 0 | 8520 |
| IShares S MidCap 400/Barra Value ETF | COM | 464287705 |  | 2250685 | 18798 | SH |  | SOLE |  | 0 | 0 | 18798 |
| Pacer FDS TR Cash Cows - ETF | COM | 69374h659 |  | 302509 | 8076 | SH |  | SOLE |  | 0 | 0 | 8076 |
| Pacer U.S. Cash Cows 100 - ETF | COM | 69374h881 |  | 11573602 | 211351 | SH |  | SOLE |  | 0 | 0 | 211351 |
| ProShares S MidCap 400 Dividend Aristo. | COM | 74347b680 |  | 1017119 | 12612 | SH |  | SOLE |  | 0 | 0 | 12612 |
| Vanguard Mid-Cap Value ETF | COM | 922908512 |  | 1035138 | 6448 | SH |  | SOLE |  | 0 | 0 | 6448 |
| American Century U.S. Quality Growth - ETF | COM | 025072307 |  | 443723 | 4737 | SH |  | SOLE |  | 0 | 0 | 4737 |
| Capital Group Growth - ETF | COM | 14020g101 |  | 4757149 | 138895 | SH |  | SOLE |  | 0 | 0 | 138895 |
| FT CBOE Vest Fund of Buffer - ETF | COM | 33740f755 |  | 1254067 | 42239 | SH |  | SOLE |  | 0 | 0 | 42239 |
| First Trust Dow Jones Internet ETF | COM | 33733e302 |  | 234590 | 1056 | SH |  | SOLE |  | 0 | 0 | 1056 |
| First Trust NASDAQ-100 Equal Wtd ETF | COM | 337344105 |  | 3042270 | 25157 | SH |  | SOLE |  | 0 | 0 | 25157 |
| IShares MSCI USA Momentum Factor ETF | COM | 46432f396 |  | 4836737 | 23929 | SH |  | SOLE |  | 0 | 0 | 23929 |
| IShares Russell 1000 Growth Index ETF | COM | 464287614 |  | 978440 | 2710 | SH |  | SOLE |  | 0 | 0 | 2710 |
| IShares S 500 Barra Growth Index ETF | COM | 464287309 |  | 334652 | 3605 | SH |  | SOLE |  | 0 | 0 | 3605 |
| JPMorgan Active Growth ETF | COM | 46654q609 |  | 757226 | 10262 | SH |  | SOLE |  | 0 | 0 | 10262 |
| JPMorgan Nasdaq Equity Premium Inc ETF | COM | 46654q203 |  | 475931 | 9191 | SH |  | SOLE |  | 0 | 0 | 9191 |
| Nuveen TR ESG Large Cap Growth ETF | COM | 67092p201 |  | 845037 | 10795 | SH |  | SOLE |  | 0 | 0 | 10795 |
| Pacer Large Cap Cash Cows Growth - ETF | COM | 69374h360 |  | 319743 | 10385 | SH |  | SOLE |  | 0 | 0 | 10385 |
| SPDR Portfolio S 500 Growth ETF | COM | 78464a409 |  | 276337 | 3438 | SH |  | SOLE |  | 0 | 0 | 3438 |
| Schwab US Large-Cap Growth ETF | COM | 808524300 |  | 921096 | 36785 | SH |  | SOLE |  | 0 | 0 | 36785 |
| T. Rowe Price Capital Apprec Equity ETF | COM | 87283q867 |  | 517863 | 16043 | SH |  | SOLE |  | 0 | 0 | 16043 |
| Vanguard Growth ETF | COM | 922908736 |  | 3480911 | 9387 | SH |  | SOLE |  | 0 | 0 | 9387 |
| Vanguard Mega Cap Growth ETF | COM | 921910816 |  | 462702 | 1498 | SH |  | SOLE |  | 0 | 0 | 1498 |
| Vanguard Russell 1000 Growth ETF | COM | 92206c680 |  | 4491018 | 48400 | SH |  | SOLE |  | 0 | 0 | 48400 |
| Vanguard S 500 Growth ETF | COM | 921932505 |  | 6593520 | 19713 | SH |  | SOLE |  | 0 | 0 | 19713 |
| iShares Russell Top 200 Growth ETF | COM | 464289438 |  | 4864507 | 23061 | SH |  | SOLE |  | 0 | 0 | 23061 |
| American Centy ETF TR Avantis US Equity | COM | 025072885 |  | 1458415 | 15787 | SH |  | SOLE |  | 0 | 0 | 15787 |
| Capital Group Core Equity - ETF | COM | 14020v108 |  | 947188 | 28359 | SH |  | SOLE |  | 0 | 0 | 28359 |
| First Tr Large Cap Core AlphaDex Fd ETF | COM | 33734k109 |  | 775703 | 7571 | SH |  | SOLE |  | 0 | 0 | 7571 |
| First Trust Capital Strength ETF | COM | 33733E104 |  | 2650048 | 29563 | SH |  | SOLE |  | 0 | 0 | 29563 |
| Goldman Sachs ActiveBeta US LargeCp Eq ETF | COM | 381430503 |  | 10456941 | 94994 | SH |  | SOLE |  | 0 | 0 | 94994 |
| IShares - Russell 200 Index ETF | COM | 464289446 |  | 903920 | 6578 | SH |  | SOLE |  | 0 | 0 | 6578 |
| IShares Edge MSCI USA Quality Factor ETF | COM | 46432f339 |  | 1331239 | 7790 | SH |  | SOLE |  | 0 | 0 | 7790 |
| IShares MSCI USA Minimum Volatility ETF | COM | 46429b697 |  | 4343112 | 46371 | SH |  | SOLE |  | 0 | 0 | 46371 |
| IShares Russell 1000 Index Fund ETF | COM | 464287622 |  | 968239 | 3157 | SH |  | SOLE |  | 0 | 0 | 3157 |
| IShares Russell 3000 Index ETF | COM | 464287689 |  | 4624521 | 14559 | SH |  | SOLE |  | 0 | 0 | 14559 |
| IShares S 500 Index ETF | COM | 464287200 |  | 1146706 | 2041 | SH |  | SOLE |  | 0 | 0 | 2041 |
| IShares Tr. S 1500 Index ETF | COM | 464287150 |  | 246732 | 2022 | SH |  | SOLE |  | 0 | 0 | 2022 |
| Invesco Russell 1000 Dynamic Multi ETF | COM | 46138j619 |  | 2994636 | 56174 | SH |  | SOLE |  | 0 | 0 | 56174 |
| Invesco S 500 GARP - ETF | COM | 46137V431 |  | 5679949 | 56868 | SH |  | SOLE |  | 0 | 0 | 56868 |
| Invesco S 500 Low Volatility ETF | COM | 46138e354 |  | 4606165 | 61646 | SH |  | SOLE |  | 0 | 0 | 61646 |
| Invesco S 500 Quality ETF A | COM | 46137v241 |  | 16217041 | 244453 | SH |  | SOLE |  | 0 | 0 | 244453 |
| JPMorgan Equity Focus - ETF | COM | 46654Q781 |  | 8670601 | 136202 | SH |  | SOLE |  | 0 | 0 | 136202 |
| JPMorgan Equity Premium Income ETF | COM | 46641q332 |  | 1026330 | 17962 | SH |  | SOLE |  | 0 | 0 | 17962 |
| JPMorgan Hedged Equity Laddered Overly ETF | COM | 46654q724 |  | 727260 | 12186 | SH |  | SOLE |  | 0 | 0 | 12186 |
| SPDR S 500 ETF | COM | 78462F103 |  | 7543067 | 13484 | SH |  | SOLE |  | 0 | 0 | 13484 |
| Schwab US Broad Market ETF | COM | 808524102 |  | 3963436 | 184089 | SH |  | SOLE |  | 0 | 0 | 184089 |
| Schwab US Large-Cap ETF | COM | 808524201 |  | 1046490 | 47395 | SH |  | SOLE |  | 0 | 0 | 47395 |
| T. Rowe Price US Equity Research ETF | COM | 87283q503 |  | 320079 | 9104 | SH |  | SOLE |  | 0 | 0 | 9104 |
| VanEck Morningstar Wide Moat - ETF | COM | 92189f643 |  | 1355904 | 15408 | SH |  | SOLE |  | 0 | 0 | 15408 |
| Vanguard Dividend Appreciation ETF | COM | 921908844 |  | 14156958 | 72978 | SH |  | SOLE |  | 0 | 0 | 72978 |
| Vanguard ESG US Stock - ETF | COM | 921910733 |  | 757034 | 7729 | SH |  | SOLE |  | 0 | 0 | 7729 |
| Vanguard Large Cap ETF | COM | 922908637 |  | 754597 | 2936 | SH |  | SOLE |  | 0 | 0 | 2936 |
| Vanguard Mega Cap ETF | COM | 921910873 |  | 14614607 | 72572 | SH |  | SOLE |  | 0 | 0 | 72572 |
| Vanguard Russell 1000 ETF | COM | 92206c730 |  | 9177118 | 36150 | SH |  | SOLE |  | 0 | 0 | 36150 |
| Vanguard Russell 3000 ETF | COM | 92206c599 |  | 615074 | 2493 | SH |  | SOLE |  | 0 | 0 | 2493 |
| Vanguard S 500 ETF | COM | 922908363 |  | 11701075 | 22769 | SH |  | SOLE |  | 0 | 0 | 22769 |
| Vanguard Total Stock Market ETF | COM | 922908769 |  | 32146122 | 116963 | SH |  | SOLE |  | 0 | 0 | 116963 |
| WisdomTree US Quality Dividend Gr ETF | COM | 97717x669 |  | 297479 | 3725 | SH |  | SOLE |  | 0 | 0 | 3725 |
| Capital Group Dividend Value - ETF | COM | 14020w106 |  | 2325075 | 65238 | SH |  | SOLE |  | 0 | 0 | 65238 |
| Dimensional US Marketwide Value - ETF | COM | 25434v724 |  | 386344 | 9375 | SH |  | SOLE |  | 0 | 0 | 9375 |
| First Trust Morningstar Div Leaders ETF | COM | 336917109 |  | 6855518 | 157816 | SH |  | SOLE |  | 0 | 0 | 157816 |
| First Trust Rising Dividend Achievers ETF | COM | 33738r506 |  | 5245177 | 89600 | SH |  | SOLE |  | 0 | 0 | 89600 |
| First Trust Value Line Dividend ETF | COM | 33734h106 |  | 3345176 | 75021 | SH |  | SOLE |  | 0 | 0 | 75021 |
| IShares Core US Value ETF | COM | 464287663 |  | 328091 | 3555 | SH |  | SOLE |  | 0 | 0 | 3555 |
| IShares Russell 1000 Value Index ETF | COM | 464287598 |  | 369054 | 1961 | SH |  | SOLE |  | 0 | 0 | 1961 |
| IShares Select Dividend ETF | COM | 464287168 |  | 2044297 | 15223 | SH |  | SOLE |  | 0 | 0 | 15223 |
| Invesco S 500 Revenue ETF | COM | 46138g698 |  | 622218 | 6264 | SH |  | SOLE |  | 0 | 0 | 6264 |
| ProShares S 500 Dividend Aristocrats ETF | COM | 74348a467 |  | 4660644 | 45612 | SH |  | SOLE |  | 0 | 0 | 45612 |
| Putnam Focased Large Cap Value ETF | COM | 746729300 |  | 355797 | 9343 | SH |  | SOLE |  | 0 | 0 | 9343 |
| SPDR Dow Jones Industrial Average ETF | COM | 78467x109 |  | 1010231 | 2406 | SH |  | SOLE |  | 0 | 0 | 2406 |
| SPDR S Dividend ETF | COM | 78464a763 |  | 2206583 | 16263 | SH |  | SOLE |  | 0 | 0 | 16263 |
| SPDR S Value ETF | COM | 78464a508 |  | 5586383 | 109387 | SH |  | SOLE |  | 0 | 0 | 109387 |
| Schwab Fundamental US Broad Market ETF | COM | 808524789 |  | 688835 | 29936 | SH |  | SOLE |  | 0 | 0 | 29936 |
| Schwab US Div Equity ETF | COM | 808524797 |  | 15405597 | 550987 | SH |  | SOLE |  | 0 | 0 | 550987 |
| T. Rowe Price Dividend Growth ETF | COM | 87283q404 |  | 963419 | 23847 | SH |  | SOLE |  | 0 | 0 | 23847 |
| Vanguard High Dividend Yield ETF | COM | 921946406 |  | 2819361 | 21862 | SH |  | SOLE |  | 0 | 0 | 21862 |
| Vanguard Russell 1000 Value ETF | COM | 92206c714 |  | 1252620 | 15176 | SH |  | SOLE |  | 0 | 0 | 15176 |
| Vanguard S 500 Value ETF | COM | 921932703 |  | 635514 | 3450 | SH |  | SOLE |  | 0 | 0 | 3450 |
| Vanguard Value ETF | COM | 922908744 |  | 1261182 | 7301 | SH |  | SOLE |  | 0 | 0 | 7301 |
| WisdomTree U.S. LargeCap Dividend ETF | COM | 97717w307 |  | 664565 | 8373 | SH |  | SOLE |  | 0 | 0 | 8373 |
| Pacer Global Cash Cows Dividend ETF | COM | 69374h709 |  | 713899 | 19305 | SH |  | SOLE |  | 0 | 0 | 19305 |
| IShares Core MSCI Total Int'l Stk ETF | COM | 46432f834 |  | 1590691 | 22786 | SH |  | SOLE |  | 0 | 0 | 22786 |
| Avantis International Equity - ETF | COM | 025072703 |  | 283503 | 4278 | SH |  | SOLE |  | 0 | 0 | 4278 |
| WisdomTree International Hdgd Div Gr ETF | COM | 97717x594 |  | 1094779 | 25225 | SH |  | SOLE |  | 0 | 0 | 25225 |
| Goldman Sachs ActiveBeta Int'l Eq ETF | COM | 381430107 |  | 2804610 | 78671 | SH |  | SOLE |  | 0 | 0 | 78671 |
| IShares MSCI EAFE ETF | COM | 464287465 |  | 320504 | 3921 | SH |  | SOLE |  | 0 | 0 | 3921 |
| Vanguard FTSE All-World (ex. US) ETF | COM | 922042775 |  | 1281139 | 21120 | SH |  | SOLE |  | 0 | 0 | 21120 |
| Vanguard Tax-Mgd Int'l Dev. Markets ETF | COM | 921943858 |  | 296170 | 5827 | SH |  | SOLE |  | 0 | 0 | 5827 |
| Pacer FDS TR Developed Mrkts Int'l CC ETF | COM | 69374h873 |  | 1692492 | 53884 | SH |  | SOLE |  | 0 | 0 | 53884 |
| Avantis Emerging Markets Equity - ETF | COM | 025072604 |  | 749117 | 12450 | SH |  | SOLE |  | 0 | 0 | 12450 |
| SPDR S Emerging Markets ETF | COM | 78463x509 |  | 587794 | 14930 | SH |  | SOLE |  | 0 | 0 | 14930 |
| Vanguard Emerging Mkts. ETF | COM | 922042858 |  | 549350 | 12138 | SH |  | SOLE |  | 0 | 0 | 12138 |
| IShares Gold Trust | COM | 464285204 |  | 297788 | 5051 | SH |  | SOLE |  | 0 | 0 | 5051 |
| Ishares Bitcoin Trust | COM | 46438f101 |  | 219643 | 4692 | SH |  | SOLE |  | 0 | 0 | 4692 |
| SPDR Gold Shares ETF | COM | 78463v107 |  | 1571927 | 5455 | SH |  | SOLE |  | 0 | 0 | 5455 |

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