CWS Financial Advisors, LLC

KALAMAZOO, MI · CIK 1802459 · 13F filing filed 2023-02-10

SEC-registered investment adviser since 2018 · limited liability company

Assets managed$1.3bn
Staff12 · 5 in investment roles
Main clients (by assets)High net worth individuals 86%, Individuals 13%, Charities 1%
Form ADV · 2026-07-24SEC adviser record

$232.0m reported value +11.0% vs Q3 2022

141positions

64.6%in top 10

21 new 55 added 61 reduced 15 sold out vs Q3 2022

Also in the report of:

Advisor OS, LLC – $1.7m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	STRYKER CORPORATION COM SYK	SYK	295,004	$71.9m30.98%	30.98%	Added +15.6k	+15,572 5.6%
2	VANGUARD INDEX FDS EXTEND MKT ETF VXF	VXF	212,629	$37.6m16.22%	16.22%	Added +13.0k	+13,023 6.5%
3	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	27,020	$9.8m4.24%	4.24%	Added +582	+582 2.2%
4	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	122,606	$7.7m3.31%	3.31%	Reduced -26.5k	-26,461 -17.8%
5	APPLE INC COM AAPL	AAPL	61,737	$7.5m3.25%	3.25%	Reduced -126	-126 -0.2%
6	MICROSOFT CORP COM MSFT	MSFT	23,386	$5.5m2.38%	2.38%	Added +1.9k	+1,913 8.9%
7	PEPSICO INC COM PEP	PEP	18,915	$2.7m1.15%	1.15%	Added +277	+277 1.5%
8	MCDONALDS CORP COM MCD	MCD	11,614	$2.6m1.12%	1.12%	Added +272	+272 2.4%
9	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	11,432	$2.4m1.02%	1.02%	Reduced -392	-392 -3.3%
10	ISHARES TR CORE MSCI EAFE IEFA	IEFA	28,416	$2.0m0.88%	0.88%	Reduced -5.0k	-4,995 -14.9%
11	PROCTER AND GAMBLE CO COM PG	PG	14,953	$2.0m0.87%	0.87%	Reduced -788	-788 -5.0%
12	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	7,279	$1.9m0.81%	0.81%	Reduced -8.0k	-8,003 -52.4%
13	CHEVRON CORP NEW COM CVX	CVX	17,275	$1.8m0.78%	0.78%	Added +4.7k	+4,651 36.8%
14	EXXON MOBIL CORP COM XOM	XOM	30,594	$1.7m0.74%	0.74%	Added +6.6k	+6,580 27.4%
15	PFIZER INC COM PFE	PFE	45,356	$1.6m0.71%	0.71%	Added +13.2k	+13,228 41.2%
16	HOME DEPOT INC COM HD	HD	5,099	$1.6m0.67%	0.67%	Added +84	+84 1.7%
17	SOUTHERN CO COM SO	SO	22,812	$1.4m0.61%	0.61%	Reduced -773	-773 -3.3%
18	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	9,348	$1.4m0.59%	0.59%	Reduced -19.8k	-19,774 -67.9%
19	LINDE PLC SHS 99952EUR	99952EUR	4,783	$1.3m0.58%	0.58%	Added +1.0k	+1,049 28.1%
20	WALMART INC COM WMT	WMT	9,713	$1.3m0.57%	0.57%	Added +2.1k	+2,074 27.1%
21	LOCKHEED MARTIN CORP COM LMT	LMT	3,327	$1.2m0.53%	0.53%	Added +71	+71 2.2%
22	JOHNSON & JOHNSON COM JNJ	JNJ	7,423	$1.2m0.53%	0.53%	Added +208	+208 2.9%
23	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	9,032	$1.2m0.52%	0.52%	Added +784	+784 9.5%
24	VANGUARD INDEX FDS VALUE ETF VTV	VTV	9,116	$1.2m0.52%	0.52%	Reduced -18.8k	-18,817 -67.4%
25	PAYCHEX INC COM PAYX	PAYX	11,899	$1.2m0.50%	0.50%	Added +1.8k	+1,774 17.5%
26	ISHARES TR CORE S&P500 ETF IVV	IVV	2,858	$1.1m0.49%	0.49%	Reduced -2.4k	-2,374 -45.4%
27	POLARIS INC COM PII	PII	8,517	$1.1m0.49%	0.49%	Added +298	+298 3.6%
28	ISHARES TR CORE S&P SCP ETF IJR	IJR	10,039	$1.1m0.47%	0.47%	Reduced -16.4k	-16,373 -62.0%
29	FASTENAL CO COM FAST	FAST	21,649	$1.1m0.47%	0.47%	Added +1.6k	+1,650 8.2%
30	CISCO SYS INC COM CSCO	CSCO	20,437	$1.1m0.46%	0.46%	Added +968	+968 5.0%
31	SNAP ON INC COM SNA	SNA	4,530	$1.0m0.45%	0.45%	Added +413	+413 10.0%
32	GRACO INC COM GGG	GGG	13,900	$996.0k0.43%	0.43%	Added +929	+929 7.2%
33	DISNEY WALT CO COM DIS	DIS	5,359	$989.0k0.43%	0.43%	Reduced -333	-333 -5.8%
34	VERIZON COMMUNICATIONS INC COM VZ	VZ	16,916	$984.0k0.42%	0.42%	Reduced -1.0k	-1,013 -5.7%
35	ALTRIA GROUP INC COM MO	MO	19,038	$974.0k0.42%	0.42%	Added +2.6k	+2,597 15.8%
36	STARBUCKS CORP COM SBUX	SBUX	8,892	$972.0k0.42%	0.42%	Added +558	+558 6.7%
37	PHILIP MORRIS INTL INC COM PM	PM	10,866	$964.0k0.42%	0.42%	Added +750	+750 7.4%
38	3M CO COM MMM	MMM	4,856	$936.0k0.40%	0.40%	New
39	JPMORGAN CHASE & CO COM JPM	JPM	6,131	$933.0k0.40%	0.40%	Reduced -422	-422 -6.4%
40	NEXTERA ENERGY INC COM NEE	NEE	12,317	$931.0k0.40%	0.40%	Added +2.6k	+2,577 26.5%
41	AMAZON COM INC COM AMZN	AMZN	300	$928.0k0.40%	0.40%	Reduced -7.5k	-7,466 -96.1%
42	COLGATE PALMOLIVE CO COM CL	CL	11,642	$918.0k0.40%	0.40%	Added +594	+594 5.4%
43	ANALOG DEVICES INC COM ADI	ADI	5,865	$910.0k0.39%	0.39%	Added +300	+300 5.4%
44	BROADRIDGE FINL SOLUTIONS IN COM BR	BR	5,859	$897.0k0.39%	0.39%	Added +474	+474 8.8%
45	ABBOTT LABS COM ABT	ABT	7,381	$885.0k0.38%	0.38%	Reduced -128	-128 -1.7%
46	PROGRESSIVE CORP COM PGR	PGR	9,209	$880.0k0.38%	0.38%	Added +696	+696 8.2%
47	VANGUARD INDEX FDS SMALL CP ETF VB	VB	4,107	$879.0k0.38%	0.38%	Reduced -5.3k	-5,334 -56.5%
48	AT&T INC COM T	T	29,006	$878.0k0.38%	0.38%	Reduced -622	-622 -2.1%
49	ISHARES INC CORE MSCI EMKT IEMG	IEMG	13,587	$874.0k0.38%	0.38%	Added +381	+381 2.9%
50	DIAGEO PLC SPON ADR NEW DEO	DEO	5,189	$852.0k0.37%	0.37%	Added +600	+600 13.1%
51	MASTERCARD INCORPORATED CL A MA	MA	2,360	$840.0k0.36%	0.36%	Added +118	+118 5.3%
52	NORTHERN TR CORP COM NTRS	NTRS	7,967	$837.0k0.36%	0.36%	Added +485	+485 6.5%
53	ISHARES TR CORE S&P MCP ETF IJH	IJH	3,047	$793.0k0.34%	0.34%	Reduced -1.4k	-1,380 -31.2%
54	WEYERHAEUSER CO MTN BE COM NEW WY	WY	21,878	$779.0k0.34%	0.34%	Added +1.4k	+1,406 6.9%
55	CHUBB LIMITED COM CB	CB	4,749	$750.0k0.32%	0.32%	Added +315	+315 7.1%
56	ILLINOIS TOOL WKS INC COM ITW	ITW	3,314	$734.0k0.32%	0.32%	Reduced -23	-23 -0.7%
57	DOW INC COM DOW	DOW	11,431	$731.0k0.32%	0.32%	Reduced -817	-817 -6.7%
58	DIGITAL RLTY TR INC COM DLR	DLR	5,117	$721.0k0.31%	0.31%	Added +540	+540 11.8%
59	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	2,792	$713.0k0.31%	0.31%	Reduced -44	-44 -1.6%
60	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	10,552	$666.0k0.29%	0.29%	Reduced -180	-180 -1.7%
61	ZOETIS INC CL A ZTS	ZTS	4,106	$647.0k0.28%	0.28%	Reduced -474	-474 -10.3%
62	US BANCORP DEL COM NEW USB	USB	11,486	$635.0k0.27%	0.27%	Added +892	+892 8.4%
63	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	2,283	$631.0k0.27%	0.27%	New
64	CIVISTA BANCSHARES INC COM NO PAR CIVB	CIVB	26,716	$613.0k0.26%	0.26%	Unchanged
65	ABBVIE INC COM ABBV	ABBV	5,457	$591.0k0.25%	0.25%	Reduced -831	-831 -13.2%
66	FIDELITY NATIONAL FINANCIAL FNF GROUP COM FNF	FNF	14,238	$579.0k0.25%	0.25%	Added +1.5k	+1,485 11.6%
67	ENTERGY CORP NEW COM ETR	ETR	5,810	$578.0k0.25%	0.25%	Added +442	+442 8.2%
68	RAYONIER INC COM RYN	RYN	17,177	$554.0k0.24%	0.24%	Added +1.3k	+1,342 8.5%
69	COCA COLA CO COM KO	KO	10,426	$550.0k0.24%	0.24%	Reduced -624	-624 -5.7%
70	ALPHABET INC CAP STK CL A GOOGL	GOOGL	260	$536.0k0.23%	0.23%	Reduced -5.8k	-5,761 -95.7%
71	EDWARDS LIFESCIENCES CORP COM EW	EW	6,330	$529.0k0.23%	0.23%	Reduced -132	-132 -2.0%
72	NXP SEMICONDUCTORS N V COM NXPI	NXPI	2,538	$511.0k0.22%	0.22%	Added +177	+177 7.5%
73	BOEING CO COM BA	BA	1,961	$500.0k0.22%	0.22%	Reduced -339	-339 -14.7%
74	GILEAD SCIENCES INC COM GILD	GILD	7,476	$483.0k0.21%	0.21%	Reduced -700	-700 -8.6%
75	INTEL CORP COM INTC	INTC	7,494	$480.0k0.21%	0.21%	New
76	KELLANOVA COM K	K	7,543	$477.0k0.21%	0.21%	Added +3.6k	+3,554 89.1%
77	RTX CORPORATION COM RTX	RTX	6,031	$466.0k0.20%	0.20%	Reduced -23	-23 -0.4%
78	BECTON DICKINSON & CO COM BDX	BDX	1,901	$462.0k0.20%	0.20%	Reduced -169	-169 -8.2%
79	DUKE ENERGY CORP NEW COM NEW DUK	DUK	4,704	$454.0k0.20%	0.20%	Reduced -293	-293 -5.9%
80	ARES CAPITAL CORP COM ARCC	ARCC	24,120	$451.0k0.19%	0.19%	Added +2.1k	+2,090 9.5%
81	SL GREEN RLTY CORP COM COM		6,431	$450.0k0.19%	0.19%	New
82	KINDER MORGAN INC DEL COM KMI	KMI	26,583	$443.0k0.19%	0.19%	Reduced -618	-618 -2.3%
83	CONOCOPHILLIPS COM COP	COP	8,262	$438.0k0.19%	0.19%	Added +607	+607 7.9%
84	AIR PRODS & CHEMS INC COM APD	APD	1,541	$434.0k0.19%	0.19%	Reduced -38	-38 -2.4%
85	ISHARES TR MSCI USA ESG SLC SUSA	SUSA	4,893	$430.0k0.19%	0.19%	Added +58	+58 1.2%
86	COGNEX CORP COM CGNX	CGNX	5,019	$417.0k0.18%	0.18%	New
87	TJX COS INC NEW COM TJX	TJX	6,265	$414.0k0.18%	0.18%	Reduced -263	-263 -4.0%
88	GENERAL DYNAMICS CORP COM GD	GD	2,266	$411.0k0.18%	0.18%	Reduced -83	-83 -3.5%
89	ISHARES TR S&P 500 GRWT ETF IVW	IVW	6,172	$402.0k0.17%	0.17%	Added +185	+185 3.1%
90	ORACLE CORP COM ORCL	ORCL	5,683	$399.0k0.17%	0.17%	Reduced -354	-354 -5.9%
91	BROOKFIELD INFRASTRUCTURE CO COM SB VTG SHS A COM SB VTG SHS A		5,131	$392.0k0.17%	0.17%	Reduced -7.8k	-7,846 -60.5%
92	NIKE INC CL B NKE	NKE	2,814	$374.0k0.16%	0.16%	Reduced -193	-193 -6.4%
93	AMGEN INC COM AMGN	AMGN	1,486	$370.0k0.16%	0.16%	Reduced -59	-59 -3.8%
94	ISHARES TR S&P 500 VAL ETF IVE	IVE	2,588	$366.0k0.16%	0.16%	Unchanged
95	NORDSON CORP COM NDSN	NDSN	1,762	$350.0k0.15%	0.15%	Reduced -97	-97 -5.2%
96	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	4,068	$345.0k0.15%	0.15%	Reduced -695	-695 -14.6%
97	LOWES COS INC COM LOW	LOW	1,789	$340.0k0.15%	0.15%	Added +86	+86 5.0%
98	VANGUARD INDEX FDS MID CAP ETF VO	VO	1,517	$336.0k0.14%	0.14%	Reduced -368	-368 -19.5%
99	PAYPAL HLDGS INC COM PYPL	PYPL	1,381	$335.0k0.14%	0.14%	New
100	BROWN & BROWN INC COM BRO	BRO	7,147	$327.0k0.14%	0.14%	Added +2.2k	+2,209 44.7%

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
VANGUARD BD INDEX FDS VUSB	VUSB	73,873	$3.6m73.9k shares
SCHWAB STRATEGIC TR SCHP	SCHP	23,758	$1.2m23.8k shares
CAPITAL GROUP GROWTH ETF CGGR	CGGR	55,470	$1.1m55.5k shares
VANGUARD WHITEHALL FDS VIGI	VIGI	12,498	$775.0k12.5k shares
S&P GLOBAL INC SPGI	SPGI	1,427	$436.0k1.4k shares
SL GREEN RLTY CORP SLG	SLG	9,442	$379.0k9.4k shares
HERSHEY CO HSY	HSY	1,572	$347.0k1.6k shares
PIMCO ETF TR MUNI	MUNI	6,762	$339.0k6.8k shares
MERCK & CO INC MRK	MRK	3,380	$291.0k3.4k shares
CAPITAL GROUP DIVIDEND VALUE CGDV	CGDV	12,658	$258.0k12.7k shares
THERMO FISHER SCIENTIFIC INC TMO	TMO	456	$231.0k456 shares
M & T BK CORP MTB	MTB	1,257	$222.0k1.3k shares
NEW JERSEY RES CORP NJR	NJR	5,738	$222.0k5.7k shares
REALTY INCOME CORP O	O	3,702	$215.0k3.7k shares
CLARIVATE PLC CLVT	CLVT	11,132	$105.0k11.1k shares