NAPLES GLOBAL ADVISORS, LLC Q4 2019 Filing

Filed February 5, 2020

Portfolio Value

$476.3M

Holdings

318

Report Date

Q4 2019

Filing Type

13F-HR

All Holdings (318 positions)

#	Stock	Shares	Value	% Portfolio
1	PGProcter & Gamble	129,795	$16.2M	3.40%
2	AAPLApple Inc	45,217	$13.3M	2.79%
3	MSFTMicrosoft Corp	70,988	$11.2M	2.35%
4	VVVanguard Large Cap ETF	75,659	$11.2M	2.35%
5	ITOTiShares S&P Total US Stock ETF	105,825	$7.7M	1.62%
6	BABoeing Co	22,625	$7.4M	1.55%
7	TSMTaiwan Semiconductor	113,391	$6.6M	1.38%
8	MRKMerck & Co Inc	67,238	$6.1M	1.28%
9	AMGNAmgen Incorporated	23,831	$5.7M	1.21%
10	IJHiShares Core S&P Midcap ETF	27,862	$5.7M	1.20%
11	INTCIntel Corp	87,088	$5.2M	1.09%
12	ACNAccenture Plc ADR	23,254	$4.9M	1.03%
13	HDHome Depot Inc	21,377	$4.7M	0.98%
14	VCSHVanguard Short Term Corp Bond ETF	55,664	$4.5M	0.95%
15	PKGPackaging Corp of America	39,965	$4.5M	0.94%
16	GLWCorning Inc	151,546	$4.4M	0.93%
17	MDTMedtronic Inc	37,448	$4.2M	0.89%
18	DISDisney Walt Co	29,215	$4.2M	0.89%
19	ADIAnalog Devices Inc	34,363	$4.1M	0.86%
20	PAYXPaychex Inc	47,838	$4.1M	0.85%
21	IXUSiShares Core MSCI Total Intl ETF	65,250	$4.0M	0.85%
22	AVGOBroadcom Inc	12,732	$4.0M	0.84%
23	IVViShares Core S&P 500 ETF	12,260	$4.0M	0.83%
24	SPYSpdr S&P 500 ETF	12,078	$3.9M	0.82%
25	JNJJohnson & Johnson	26,117	$3.8M	0.80%
26	LMTLockheed Martin Corp	9,517	$3.7M	0.78%
27	VTIVanguard Total Stock Market ETF	22,555	$3.7M	0.77%
28	RIORio Tinto	60,246	$3.6M	0.75%
29	SOSouthern Co	55,766	$3.6M	0.75%
30	MMM3M Company	19,978	$3.5M	0.74%
31	ABBVAbbvie Inc	39,149	$3.5M	0.73%
32	ETVEaton Vance Tax-Mgd BW CEF	230,083	$3.4M	0.72%
33	MCHPMicrochip Technology Inc	32,040	$3.4M	0.70%
34	MCDMcDonalds Corp	16,532	$3.3M	0.69%
35	BLKCHFBlackrock Inc	6,488	$3.3M	0.68%
36	UNHUnitedHealth Group Inc	10,848	$3.2M	0.67%
37	INFYInfosys Ltd ADR	307,807	$3.2M	0.67%
38	SHYDVectors Short High Yield Muni ETF	124,630	$3.1M	0.66%
39	MDYSpdr S&P Midcap 400 ETF	8,349	$3.1M	0.66%
40	IFFIntl Flavors & Fragrances Inc	24,121	$3.1M	0.65%
41	SAPSAP Ag ADR	23,057	$3.1M	0.65%
42	FQIDigital Realty Trust REIT	25,347	$3.0M	0.64%
43	CSCOCisco Systems Inc	61,916	$3.0M	0.62%
44	VWOVanguard FTSE EM ETF	66,351	$3.0M	0.62%
45	USBU.S. Bancorp	49,585	$2.9M	0.62%
46	TAT&T Inc	74,896	$2.9M	0.61%
47	UPSUnited Parcel Service	24,883	$2.9M	0.61%
48	SCHBSchwab US Broad Mkt ETF	37,543	$2.9M	0.61%
49	AQN.TOAlgonquin Pwr Utils Corp	196,630	$2.8M	0.58%
50	LDOSLeidos Holdings Inc	28,050	$2.7M	0.58%
51	SBUXStarbucks Corp	30,530	$2.7M	0.56%
52	JPMJP Morgan Chase & Co	19,137	$2.7M	0.56%
53	R6C2Royal Dutch Shell	43,985	$2.6M	0.55%
54	XOMExxon Mobil Corporation	36,200	$2.5M	0.53%
55	PFEPfizer Inc	61,008	$2.4M	0.50%
56	LINLinde Plc	10,600	$2.3M	0.47%
57	—Weingarten Realty REIT	71,690	$2.2M	0.47%
58	LRCXEURLam Research Corp	7,565	$2.2M	0.46%
59	NSCNorfolk Southern Corp	11,227	$2.2M	0.46%
60	PEPPepsico Inc	15,765	$2.2M	0.45%
61	IXOrix Corporation	25,205	$2.1M	0.44%
62	CMCanadian Imperial Bank	25,150	$2.1M	0.44%
63	LLYEli Lilly & Co	15,780	$2.1M	0.44%
64	ULUnilever	36,159	$2.1M	0.43%
65	RPMRpm Intl Inc	26,675	$2.0M	0.43%
66	AMZNAmazon.com, Inc	1,085	$2.0M	0.42%
67	CBRLCracker Barrel Old Ctry	13,010	$2.0M	0.42%
68	DEODiageo Plc	11,810	$2.0M	0.42%
69	TXNTexas Instruments Inc	15,477	$2.0M	0.42%
70	GUNRFlexshares Trust Mstar Glbl Upstrm Nat Res ETF	59,148	$2.0M	0.42%
71	NVSNNovartis AG	20,909	$2.0M	0.42%
72	MIC2EURMacquarie Infrastructure Corp	46,037	$2.0M	0.41%
73	ALBAlbemarle Corp	26,998	$2.0M	0.41%
74	ORCLOracle Corporation	36,856	$2.0M	0.41%
75	RTN1USDRaytheon Company	8,884	$2.0M	0.41%
76	WSOWatsco Inc	10,637	$1.9M	0.40%
77	VTEBVanguard Tax-Exempt Bond ETF	34,665	$1.9M	0.39%
78	SCHESchwab Emg Mkts Equity ETF	67,047	$1.8M	0.39%
79	CLXClorox Company	11,936	$1.8M	0.38%
80	8CWCrown Castle Intl Corp	12,668	$1.8M	0.38%
81	CSXCSX Corp	24,635	$1.8M	0.37%
82	VCITVanguard Int Term Corp Bond ETF	19,178	$1.8M	0.37%
83	EFAiShares MSCI EAFE ETF	25,215	$1.8M	0.37%
84	METAFacebook Inc	8,473	$1.7M	0.37%
85	SONSonoco Products Co	28,143	$1.7M	0.36%
86	SCHDSchwab US Div Equity ETF	29,510	$1.7M	0.36%
87	VFCVF Corp	16,987	$1.7M	0.36%
88	GSKGlaxosmithkline ADR	35,813	$1.7M	0.35%
89	BMYBristol-Myers Squibb Co	26,115	$1.7M	0.35%
90	EMREmerson Electric Co	21,848	$1.7M	0.35%
91	HUNHuntsman Corp	68,901	$1.7M	0.35%
92	BCEBCE Inc ADR	35,142	$1.6M	0.34%
93	DOWDow Chemical Company	29,730	$1.6M	0.34%
94	IWRiShares Russell Mid Cap ETF	27,003	$1.6M	0.34%
95	AZNAstrazeneca Plc ADR	31,908	$1.6M	0.33%
96	SHYGiShares 0-5Yr HY Corp Bond	33,421	$1.6M	0.33%
97	MGICMagic Software Enterprises	158,224	$1.5M	0.32%
98	DYHTarget Corporation	11,996	$1.5M	0.32%
99	NEENextera Energy Inc	6,292	$1.5M	0.32%
100	SCHFSchwab Intl Equity ETF	45,246	$1.5M	0.32%

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