Lunt Capital Management, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
USFR	WISDOMTREE TR	986,442	$49,638	26.8%	$50.32	—	FLOATNG RAT TREA	97717Y527
TFLO	ISHARES TR	195,119	$9,887	5.3%	$50.67	—	TRS FLT RT BD	46434V860
PALC	PACER FDS TR	250,329	$9,555	5.2%	$38.17	—	LUNT LRGCP MULTI	69374H816
TPL	TEXAS PACIFIC LAND CORPORATI	6,243	$8,219	4.4%	$155.33	0.0%	COM	88262P102
FCTR	FIRST TR EXCHANGE-TRADED FD	282,006	$7,408	4.0%	$26.27	—	LUNT US FACTOR	33733E872
FTSM	FIRST TR EXCHANGE-TRADED FD	116,035	$6,894	3.7%	$59.41	—	FIRST TR ENH NEW	33739Q408
PAMC	PACER FDS TR	182,502	$6,473	3.5%	$35.47	—	LUNT MDCAP MLT	69374H725
ALTL	PACER FDS TR	167,026	$6,270	3.4%	$37.54	—	LUNT LRG CP ALTR	69374H717
LMBS	FIRST TR EXCHANGE-TRADED FD	107,937	$5,145	2.8%	$47.67	—	FST LOW OPPT EFT	33739Q200
IBTE	ISHARES TR	194,378	$4,626	2.5%	$23.80	—	IBONDS 24 TRM TS	46436E874
SPAB	SPDR SER TR	169,835	$4,309	2.3%	$25.37	—	PORTFOLIO AGRGTE	78464A649
FIXD	FIRST TR EXCHNG TRADED FD VI	72,397	$3,198	1.7%	$44.17	—	TCW OPPORTUNIS	33740F805
RSP	INVESCO EXCHANGE TRADED FD T	18,381	$2,751	1.5%	$149.64	—	S&P500 EQL WGT	46137V357
DUSA	DAVIS FUNDAMENTAL ETF TR	85,505	$2,740	1.5%	$32.04	—	SELECT US EQTY	23908L207
SPYM	SPDR SER TR	51,532	$2,685	1.4%	$52.11	—	PORTFOLIO S&P500	78464A854
FNDF	SCHWAB STRATEGIC TR	74,771	$2,414	1.3%	$32.29	—	SCHWB FDT INT LG	808524755
UCON	FIRST TR EXCHNG TRADED FD VI	92,372	$2,233	1.2%	$24.17	—	TCW UNCONSTRAI	33740F888
SPDW	SPDR INDEX SHS FDS	67,932	$2,211	1.2%	$32.54	—	PORTFOLIO DEVLPD	78463X889
BOND	PIMCO ETF TR	22,947	$2,102	1.1%	$91.62	—	ACTIVE BD ETF	72201R775
TOTL	SSGA ACTIVE ETF TR	50,882	$2,063	1.1%	$40.55	—	SPDR TR TACTIC	78467V848
IXUS	ISHARES TR	31,334	$1,962	1.1%	$62.62	—	CORE MSCI TOTAL	46432F834
BUFG	FIRST TR EXCHNG TRADED FD VI	90,641	$1,829	1.0%	$20.18	—	CBOE VEST BUFERD	33740U778
SPLV	INVESCO EXCH TRADED FD TR II	27,802	$1,746	0.9%	$62.81	—	S&P500 LOW VOL	46138E354
BUFT	FIRST TR EXCHNG TRADED FD VI	84,679	$1,685	0.9%	$19.90	—	CBOE VEST BUFERD	33740U760
DINT	DAVIS FUNDAMENTAL ETF TR	87,541	$1,650	0.9%	$18.85	—	SELCT INTL ETF	23908L405
ZION	ZIONS BANCORPORATION N A	57,932	$1,556	0.8%	$27.74	0.0%	COM	989701107
SPSM	SPDR SER TR	39,329	$1,528	0.8%	$38.84	—	PORTFOLIO S&P600	78468R853
MOAT	VANECK ETF TRUST	17,799	$1,420	0.8%	$79.79	—	MRNGSTR WDE MOAT	92189F643
PFE	PFIZER INC	35,609	$1,306	0.7%	$33.22	0.0%	COM	717081103
KOMP	SPDR SER TR	27,921	$1,245	0.7%	$44.60	—	S&P KENSHO NEW	78468R648
HQY	HEALTHEQUITY INC	17,730	$1,119	0.6%	$57.99	0.0%	COM	42226A107
BIL	SPDR SER TR	12,057	$1,107	0.6%	$91.82	—	BLOOMBERG 1-3 MO	78468R663
JPST	J P MORGAN EXCHANGE TRADED F	21,800	$1,093	0.6%	$50.14	—	ULTRA SHRT INC	46641Q837
COWZ	PACER FDS TR	22,509	$1,078	0.6%	$47.87	—	US CASH COWS 100	69374H881
FV	FIRST TR EXCHANGE-TRADED FD	22,726	$1,066	0.6%	$46.91	—	DORSEY WRT 5 ETF	33738R605
PTLC	PACER FDS TR	25,414	$1,050	0.6%	$41.30	—	TRENDP US LAR CP	69374H105
SECT	NORTHERN LTS FD TR IV	23,867	$1,028	0.6%	$43.09	—	MAIN SECTR ROTN	66538H591
PHDG	INVESCO ACTIVELY MANAGED ETF	30,554	$1,018	0.5%	$33.31	—	S&P500 DOWNSID	46090A705
TRND	PACER FDS TR	34,031	$990	0.5%	$29.09	—	TRENDPILOT FD	69374H675
FRDM	EA SERIES TRUST	31,524	$988	0.5%	$31.36	—	FREEDOM 100 EM	02072L607
XLI	SELECT SECTOR SPDR TR	9,079	$974	0.5%	$107.32	—	SBI INT-INDS	81369Y704
RAVI	FLEXSHARES TR	12,823	$961	0.5%	$74.95	—	FLEXSHARES ULTRA	33939L886
AAPL	APPLE INC	4,837	$938	0.5%	$172.06	0.0%	COM	037833100
STOT	SSGA ACTIVE TR	18,276	$849	0.5%	$46.44	—	SPDR DBLELN SHRT	78470P200
GSIE	GOLDMAN SACHS ETF TR	25,198	$790	0.4%	$31.35	—	ACTIVEBETA INT	381430107
MINT	PIMCO ETF TR	7,446	$743	0.4%	$99.76	—	ENHAN SHRT MA AC	72201R833
XLY	SELECT SECTOR SPDR TR	4,090	$695	0.4%	$169.81	—	SBI CONS DISCR	81369Y407
DWLD	DAVIS FUNDAMENTAL ETF TR	23,250	$670	0.4%	$28.80	—	SELECT WRLD WI	23908L306
BWZ	SPDR SER TR	24,493	$654	0.4%	$26.72	—	BLOOMBERG SHORT	78464A334
IXN	ISHARES TR	9,231	$574	0.3%	$62.19	—	GLOBAL TECH ETF	464287291
IWD	ISHARES TR	3,520	$556	0.3%	$157.83	—	RUS 1000 VAL ETF	464287598
TRAK	PARK CITY GROUP INC	53,963	$544	0.3%	$7.51	0.0%	COM NEW	700215304
XLRE	SELECT SECTOR SPDR TR	14,305	$539	0.3%	$37.69	—	RL EST SEL SEC	81369Y860
FTGC	FIRST TR EXCHANGE TRAD FD VI	23,295	$530	0.3%	$22.77	—	FST TR GLB FD	33739H101
IDLV	INVESCO EXCH TRADED FD TR II	19,224	$526	0.3%	$27.35	—	S&P INTL LOW	46138E230
BRK/A	BERKSHIRE HATHAWAY INC DEL	1	$518	0.3%	$497809.40	0.0%	CL A	084670108
FMB	FIRST TR EXCH TRADED FD III	9,947	$504	0.3%	$50.68	—	MANAGD MUN ETF	33739N108
—	CLENE INC	512,863	$451	0.2%	$0.88	—	COMMON STOCK	185634102
VGT	VANGUARD WORLD FDS	915	$405	0.2%	$442.16	—	INF TECH ETF	92204A702
MUNI	PIMCO ETF TR	7,516	$390	0.2%	$51.84	—	INTER MUN BD ACT	72201R866
XT	ISHARES TR	6,286	$350	0.2%	$55.60	—	EXPONENTIAL TECH	46434V381
FTSL	FIRST TR EXCHANGE-TRADED FD	7,362	$333	0.2%	$45.30	—	SENIOR LN FD	33738D309
EELV	INVESCO EXCH TRADED FD TR II	14,071	$331	0.2%	$23.52	—	S&P EMRNG MKTS	46138E297
FLRN	SPDR SER TR	10,690	$328	0.2%	$30.69	—	BLOOMBERG INVT	78468R200
SHEL	SHELL PLC	5,422	$327	0.2%	$60.38	—	SPON ADS	780259305
VWO	VANGUARD INTL EQUITY INDEX F	7,839	$319	0.2%	$40.68	—	FTSE EMR MKT ETF	922042858
VLUE	ISHARES TR	3,396	$319	0.2%	$93.79	—	MSCI USA VALUE	46432F388
MTUM	ISHARES TR	2,057	$297	0.2%	$144.25	—	MSCI USA MMENTM	46432F396
IMFL	INVESCO EXCH TRD SLF IDX FD	12,066	$291	0.2%	$24.08	—	INTL DEV DYNAMIC	46138J437
INFL	LISTED FD TR	8,582	$262	0.1%	$30.57	—	HORIZON KINETICS	53656F623
FSMB	FIRST TR EXCH TRADED FD III	12,430	$245	0.1%	$19.74	—	SHRT DUR MNG MUN	33739P830
VTIP	VANGUARD MALVERN FDS	5,173	$245	0.1%	$47.42	—	STRM INFPROIDX	922020805
VOO	VANGUARD INDEX FDS	598	$244	0.1%	$407.28	—	S&P 500 ETF SHS	922908363
RCL	ROYAL CARIBBEAN GROUP	2,256	$234	0.1%	$77.05	0.0%	COM	V7780T103
FXF	INVESCO CURRENCYSHARES SWISS	2,180	$217	0.1%	$99.46	—	SWISS FRANC	46138R108
HCAT	HEALTH CATALYST INC	17,337	$217	0.1%	$11.91	0.0%	COM	42225T107
VTI	VANGUARD INDEX FDS	982	$216	0.1%	$220.28	—	TOTAL STK MKT	922908769
EWN	ISHARES INC	4,790	$207	0.1%	$43.28	—	MSCI NETHERL ETF	464286814
EIRL	ISHARES TR	3,495	$201	0.1%	$57.62	—	MSCI IRELAND ETF	46429B507