Algorithmic Investment Models, LLC Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLP	SELECT SECTOR SPDR TR	66,858	$5,481	6.8%	$81.98	—	STATE STREET CON	81369Y308
DXJ	WISDOMTREE TR	8,128	$1,289	1.6%	$158.58	—	JAPN HEDGE EQT	97717W851
RPV	INVESCO EXCHANGE TRADED FD T	11,420	$1,226	1.5%	$107.39	—	S&P500 PUR VAL	46137V258
COMT	ISHARES U S ETF TR	35,704	$1,207	1.5%	$33.81	—	GSCI CMDTY STGY	46431W853
USDU	WISDOMTREE TR	45,369	$1,195	1.5%	$26.33	—	BLMBG US BULL	97717W471
ASHR	DBX ETF TR	17,778	$580	0.7%	$32.64	—	XTRACK HRVST CSI	233051879
ELME	ELME COMMUNITIES	11,734	$24	0.0%	$2.01	—	SH BEN INT	939653101
GUTS	FRACTYL HEALTH INC	15,500	$7	0.0%	$1.20	0.0%	COM	35168W103
GOSS	GOSSAMER BIO INC	10,772	$4	0.0%	$2.26	0.0%	COM	38341P102

Increased Positions (13)

XLE SELECT SECTOR SPDR TR 8.6%

Value ($000) $6,948 (+42.2%) Shares 113,416 (+3.8%) Est. Cost $67.30 Unrealized —

XLB SELECT SECTOR SPDR TR 7.1%

Value ($000) $5,713 (+17.8%) Shares 114,338 (+6.9%) Est. Cost $67.06 Unrealized —

IEF ISHARES TR 1.5%

Value ($000) $1,185 (+119.6%) Shares 12,421 (+121.3%) Est. Cost $95.59 Unrealized —

XLRE SELECT SECTOR SPDR TR 6.6%

Value ($000) $5,370 (+13.6%) Shares 131,530 (+12.3%) Est. Cost $40.44 Unrealized —

XLC SELECT SECTOR SPDR TR 6.6%

Value ($000) $5,387 (+10.6%) Shares 48,590 (+17.4%) Est. Cost $108.88 Unrealized —

XLU SELECT SECTOR SPDR TR 6.7%

Value ($000) $5,411 (+10.3%) Shares 117,918 (+2.6%) Est. Cost $55.54 Unrealized —

XBI SPDR SERIES TRUST 1.5%

Value ($000) $1,210 (+31.6%) Shares 9,476 (+25.7%) Est. Cost $123.11 Unrealized —

XLK SELECT SECTOR SPDR TR 6.6%

Value ($000) $5,335 (+5.1%) Shares 40,140 (+13.9%) Est. Cost $192.74 Unrealized —

FLQM FRANKLIN TEMPLETON ETF TR 7.4%

Value ($000) $5,991 (+2.4%) Shares 109,070 (+4.9%) Est. Cost $55.43 Unrealized —

XLV SELECT SECTOR SPDR TR 6.8%

Value ($000) $5,492 (+1.6%) Shares 37,458 (+7.2%) Est. Cost $139.67 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 1.4%

Value ($000) $1,152 (+2.9%) Shares 14,530 (+3.5%) Est. Cost $76.24 Unrealized —

EWX SPDR INDEX SHS FDS 0.8%

Value ($000) $612 (+5.4%) Shares 9,261 (+4.7%) Est. Cost $65.68 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.6%

Value ($000) $452 (+3.9%) Shares 2,354 (+3.7%) Est. Cost $174.69 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLE	SELECT SECTOR SPDR TR	113,416 (+3.8%)	$6,948 (+42.2%)	8.6%	$67.30	—	STATE STREET ENE	81369Y506
XLB	SELECT SECTOR SPDR TR	114,338 (+6.9%)	$5,713 (+17.8%)	7.1%	$67.06	—	STATE STREET MAT	81369Y100
IEF	ISHARES TR	12,421 (+121.3%)	$1,185 (+119.6%)	1.5%	$95.59	—	7-10 YR TRSY BD	464287440
XLRE	SELECT SECTOR SPDR TR	131,530 (+12.3%)	$5,370 (+13.6%)	6.6%	$40.44	—	STATE STREET REA	81369Y860
XLC	SELECT SECTOR SPDR TR	48,590 (+17.4%)	$5,387 (+10.6%)	6.6%	$108.88	—	STATE STREET COM	81369Y852
XLU	SELECT SECTOR SPDR TR	117,918 (+2.6%)	$5,411 (+10.3%)	6.7%	$55.54	—	STATE STREET UTI	81369Y886
XBI	SPDR SERIES TRUST	9,476 (+25.7%)	$1,210 (+31.6%)	1.5%	$123.11	—	STATE STREET SPD	78464A870
XLK	SELECT SECTOR SPDR TR	40,140 (+13.9%)	$5,335 (+5.1%)	6.6%	$192.74	—	STATE STREET TEC	81369Y803
FLQM	FRANKLIN TEMPLETON ETF TR	109,070 (+4.9%)	$5,991 (+2.4%)	7.4%	$55.43	—	US MID CP MLTFCT	35473P884
XLV	SELECT SECTOR SPDR TR	37,458 (+7.2%)	$5,492 (+1.6%)	6.8%	$139.67	—	STATE STREET HEA	81369Y209
VCSH	VANGUARD SCOTTSDALE FDS	14,530 (+3.5%)	$1,152 (+2.9%)	1.4%	$76.24	—	SHRT TRM CORP BD	92206C409
EWX	SPDR INDEX SHS FDS	9,261 (+4.7%)	$612 (+5.4%)	0.8%	$65.68	—	STATE STREET SPD	78463X756
RSP	INVESCO EXCHANGE TRADED FD T	2,354 (+3.7%)	$452 (+3.9%)	0.6%	$174.69	—	S&P500 EQL WGT	46137V357

Exited Positions (13)

FNCL FIDELITY COVINGTON TRUST 6.1%

Value ($000) $4,941 Shares 63,564 Est. Cost $74.04 Unrealized —

XLY SELECT SECTOR SPDR TR 6.0%

Value ($000) $4,852 Shares 40,636 Est. Cost $169.30 Unrealized —

AGG ISHARES TR 1.6%

Value ($000) $1,266 Shares 12,677 Est. Cost $98.72 Unrealized —

ILF ISHARES TR 0.8%

Value ($000) $654 Shares 21,485 Est. Cost $25.50 Unrealized —

STIP ISHARES TR 0.8%

Value ($000) $624 Shares 6,099 Est. Cost $101.19 Unrealized —

NANR SPDR INDEX SHS FDS 0.8%

Value ($000) $624 Shares 9,202 Est. Cost $64.60 Unrealized —

EFV ISHARES TR 0.7%

Value ($000) $552 Shares 7,728 Est. Cost $71.41 Unrealized —

IGE ISHARES TR 0.7%

Value ($000) $552 Shares 10,987 Est. Cost $47.09 Unrealized —

VNQI VANGUARD INTL EQUITY INDEX F 0.7%

Value ($000) $543 Shares 11,853 Est. Cost $47.67 Unrealized —

DOCS DOXIMITY INC 0.3%

Value ($000) $270 Shares 6,100 Est. Cost $65.20 Unrealized -46.3%

IGF ISHARES TR 0.3%

Value ($000) $211 Shares 3,445 Est. Cost $59.20 Unrealized —

SOWG SOW GOOD INC 0.0%

Value ($000) $5 Shares 15,401 Est. Cost $0.66 Unrealized -12.7%

KLTO KLOTHO NEUROSCIENCES INC 0.0%

Value ($000) $5 Shares 16,259 Est. Cost $0.48 Unrealized -37.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FNCL	FIDELITY COVINGTON TRUST	63,564	$4,941	6.1%	$74.04	—	—	316092501
XLY	SELECT SECTOR SPDR TR	40,636	$4,852	6.0%	$169.30	—	—	81369Y407
AGG	ISHARES TR	12,677	$1,266	1.6%	$98.72	—	—	464287226
ILF	ISHARES TR	21,485	$654	0.8%	$25.50	—	—	464287390
STIP	ISHARES TR	6,099	$624	0.8%	$101.19	—	—	46429B747
NANR	SPDR INDEX SHS FDS	9,202	$624	0.8%	$64.60	—	—	78463X152
EFV	ISHARES TR	7,728	$552	0.7%	$71.41	—	—	464288877
IGE	ISHARES TR	10,987	$552	0.7%	$47.09	—	—	464287374
VNQI	VANGUARD INTL EQUITY INDEX F	11,853	$543	0.7%	$47.67	—	—	922042676
DOCS	DOXIMITY INC	6,100	$270	0.3%	$65.20	-46.3%	—	26622P107
IGF	ISHARES TR	3,445	$211	0.3%	$59.20	—	—	464288372
SOWG	SOW GOOD INC	15,401	$5	0.0%	$0.66	-12.7%	—	84612H106
KLTO	KLOTHO NEUROSCIENCES INC	16,259	$5	0.0%	$0.48	-37.6%	—	49876K103

Decreased Positions (9)

XLI SELECT SECTOR SPDR TR 6.7%

Value ($000) $5,455 (-11.4%) Shares 33,726 (-15.0%) Est. Cost $110.49 Unrealized —

LVHI LEGG MASON ETF INVT 0.8%

Value ($000) $640 (-46.4%) Shares 15,787 (-51.3%) Est. Cost $32.52 Unrealized —

AMLP ALPS ETF TR 2.5%

Value ($000) $2,048 (-18.3%) Shares 38,908 (-27.0%) Est. Cost $49.41 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 0.4%

Value ($000) $311 (-40.5%) Shares 2,248 (-39.3%) Est. Cost $128.51 Unrealized —

XSOE WISDOMTREE TR 4.9%

Value ($000) $3,997 (-2.5%) Shares 99,674 (-5.1%) Est. Cost $31.40 Unrealized —

GVI ISHARES TR 0.8%

Value ($000) $660 (-3.8%) Shares 6,183 (-3.2%) Est. Cost $104.74 Unrealized —

ICLN ISHARES TR 0.7%

Value ($000) $590 (+3.3%) Shares 32,232 (-7.2%) Est. Cost $16.43 Unrealized —

VEU VANGUARD INTL EQUITY INDEX F 5.1%

Value ($000) $4,126 (-0.3%) Shares 54,939 (-2.4%) Est. Cost $61.97 Unrealized —

SHV ISHARES TR 0.9%

Value ($000) $736 (-1.6%) Shares 6,670 (-1.8%) Est. Cost $110.39 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLI	SELECT SECTOR SPDR TR	33,726 (-15.0%)	$5,455 (-11.4%)	6.7%	$110.49	—	STATE STREET IND	81369Y704
LVHI	LEGG MASON ETF INVT	15,787 (-51.3%)	$640 (-46.4%)	0.8%	$32.52	—	FRANKLIN INTL LW	52468L505
AMLP	ALPS ETF TR	38,908 (-27.0%)	$2,048 (-18.3%)	2.5%	$49.41	—	ALERIAN MLP	00162Q452
VT	VANGUARD INTL EQUITY INDEX F	2,248 (-39.3%)	$311 (-40.5%)	0.4%	$128.51	—	TT WRLD ST ETF	922042742
XSOE	WISDOMTREE TR	99,674 (-5.1%)	$3,997 (-2.5%)	4.9%	$31.40	—	EM EX ST-OWNED	97717X578
GVI	ISHARES TR	6,183 (-3.2%)	$660 (-3.8%)	0.8%	$104.74	—	INTRM GOV CR ETF	464288612
ICLN	ISHARES TR	32,232 (-7.2%)	$590 (+3.3%)	0.7%	$16.43	—	GL CLEAN ENE ETF	464288224
VEU	VANGUARD INTL EQUITY INDEX F	54,939 (-2.4%)	$4,126 (-0.3%)	5.1%	$61.97	—	ALLWRLD EX US	922042775
SHV	ISHARES TR	6,670 (-1.8%)	$736 (-1.6%)	0.9%	$110.39	—	TRUST ISHARE 0-1	464288679

Unchanged Positions (1)

DBND DOUBLELINE ETF TRUST 1.5%

Value ($000) $1,202 Shares 26,243 Est. Cost $46.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DBND	DOUBLELINE ETF TRUST	26,243	$1,202	1.5%	$46.01	—	OPPORTUNISTIC CO	25861R105