Lunt Capital Management, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
USFR	WISDOMTREE TR	786,390	$39,548	19.6%	$50.32	—	FLOATNG RAT TREA	97717Y527
PALC	PACER FDS TR	233,906	$10,907	5.4%	$38.17	—	LUNT LRGCP MULTI	69374H816
VRIG	INVESCO ACTIVELY MANAGED ETF	413,064	$10,364	5.1%	$25.06	—	VAR RATE INVT	46090A879
TPL	TEXAS PACIFIC LAND CORPORATI	16,155	$9,346	4.6%	$162.99	+2.6%	COM	88262P102
FCTR	FIRST TR EXCHANGE-TRADED FD	282,016	$8,762	4.3%	$26.19	—	LUNT US FACTOR	33733E872
TFLO	ISHARES TR	166,596	$8,445	4.2%	$50.67	—	TRS FLT RT BD	46434V860
PAMC	PACER FDS TR	179,740	$8,219	4.1%	$35.43	—	LUNT MDCAP MLT	69374H725
ALTL	PACER FDS TR	180,952	$6,341	3.1%	$37.28	—	LUNT LRG CP ALTR	69374H717
LMBS	FIRST TR EXCHANGE-TRADED FD	116,702	$5,631	2.8%	$47.68	—	FST LOW OPPT EFT	33739Q200
IBTE	ISHARES TR	225,066	$5,388	2.7%	$23.81	—	IBONDS 24 TRM TS	46436E874
SPAB	SPDR SER TR	202,853	$5,128	2.5%	$25.34	—	PORTFOLIO AGRGTE	78464A649
—	ISHARES TR	199,626	$4,637	2.3%	$23.13	—	IBONDS 25 TRM TS	46436E866
SPYM	SPDR SER TR	54,590	$3,359	1.7%	$55.23	—	PORTFOLIO S&P500	78464A854
RSP	INVESCO EXCHANGE TRADED FD T	19,022	$3,222	1.6%	$155.91	—	S&P500 EQL WGT	46137V357
DUSA	DAVIS FUNDAMENTAL ETF TR	77,616	$3,133	1.6%	$34.19	—	SELECT US EQTY	23908L207
BIL	SPDR SER TR	32,602	$2,993	1.5%	$91.69	—	BLOOMBERG 1-3 MO	78468R663
IXUS	ISHARES TR	44,086	$2,992	1.5%	$63.71	—	CORE MSCI TOTAL	46432F834
UCON	FIRST TR EXCHNG TRADED FD VI	114,420	$2,815	1.4%	$24.26	—	TCW UNCONSTRAI	33740F888
BOND	PIMCO ETF TR	28,728	$2,639	1.3%	$91.26	—	ACTIVE BD ETF	72201R775
FIXD	FIRST TR EXCHNG TRADED FD VI	59,623	$2,600	1.3%	$44.17	—	TCW OPPORTUNIS	33740F805
TOTL	SSGA ACTIVE ETF TR	64,342	$2,577	1.3%	$40.32	—	SPDR TR TACTIC	78467V848
SPDW	SPDR INDEX SHS FDS	68,811	$2,466	1.2%	$32.63	—	PORTFOLIO DEVLPD	78463X889
FNDF	SCHWAB STRATEGIC TR	63,772	$2,271	1.1%	$33.04	—	SCHWB FDT INT LG	808524755
BUFG	FIRST TR EXCHNG TRADED FD VI	92,944	$2,093	1.0%	$20.23	—	VEST BUFFERED	33740U778
PDP	INVESCO EXCHANGE TRADED FD T	20,027	$1,978	1.0%	$77.35	—	DORSEY WRIGHT MO	46137V837
DINT	DAVIS FUNDAMENTAL ETF TR	101,217	$1,952	1.0%	$18.85	—	SELCT INTL ETF	23908L405
MOAT	VANECK ETF TRUST	21,121	$1,899	0.9%	$80.37	—	MRNGSTR WDE MOAT	92189F643
BUFT	FIRST TR EXCHNG TRADED FD VI	85,575	$1,827	0.9%	$19.92	—	VEST BUFFERED	33740U760
COWZ	PACER FDS TR	27,372	$1,591	0.8%	$49.05	—	US CASH COWS 100	69374H881
FV	FIRST TR EXCHANGE-TRADED FD	27,077	$1,550	0.8%	$48.88	—	DORSEY WRT 5 ETF	33738R605
SECT	NORTHERN LTS FD TR IV	29,439	$1,483	0.7%	$43.71	—	MAIN SECTR ROTN	66538H591
PTLC	PACER FDS TR	30,911	$1,475	0.7%	$42.68	—	TRENDP US LAR CP	69374H105
HQY	HEALTHEQUITY INC	17,730	$1,447	0.7%	$57.99	+34.6%	COM	42226A107
SPSM	SPDR SER TR	33,392	$1,437	0.7%	$39.37	—	PORTFOLIO S&P600	78468R853
KOMP	SPDR SER TR	29,593	$1,423	0.7%	$44.80	—	S&P KENSHO NEW	78468R648
PHDG	INVESCO ACTIVELY MANAGED ETF	38,216	$1,406	0.7%	$33.25	—	S&P500 DOWNSID	46090A705
FRDM	EA SERIES TRUST	39,241	$1,324	0.7%	$31.53	—	FREEDOM 100 EM	02072L607
DWLD	DAVIS FUNDAMENTAL ETF TR	37,718	$1,225	0.6%	$29.32	—	SELECT WRLD WI	23908L306
JPST	J P MORGAN EXCHANGE TRADED F	17,232	$869	0.4%	$50.14	—	ULTRA SHRT INC	46641Q837
GSIE	GOLDMAN SACHS ETF TR	25,198	$864	0.4%	$31.35	—	ACTIVEBETA INT	381430107
TRAK	REPOSITRAK INC	53,963	$855	0.4%	$7.51	+74.7%	COM NEW	700215304
TRND	PACER FDS TR	25,848	$816	0.4%	$29.13	—	TRENDPILOT FD	69374H675
RAVI	FLEXSHARES TR	10,201	$770	0.4%	$74.95	—	FLEXSHARES ULTRA	33939L886
XLE	SELECT SECTOR SPDR TR	7,873	$743	0.4%	$94.41	—	ENERGY	81369Y506
MINT	PIMCO ETF TR	7,205	$724	0.4%	$99.76	—	ENHAN SHRT MA AC	72201R833
RCL	ROYAL CARIBBEAN GROUP	4,938	$686	0.3%	$101.86	+20.5%	COM	V7780T103
XLI	SELECT SECTOR SPDR TR	5,304	$668	0.3%	$113.99	—	INDL	81369Y704
XLF	SELECT SECTOR SPDR TR	15,650	$659	0.3%	$37.60	—	FINANCIAL	81369Y605
FTSM	FIRST TR EXCHANGE-TRADED FD	11,002	$656	0.3%	$59.41	—	FIRST TR ENH NEW	33739Q408
EQAL	INVESCO EXCH TRADED FD TR II	14,174	$655	0.3%	$44.10	—	RUSEL 1000 EQL	46138E420
IXN	ISHARES TR	8,625	$645	0.3%	$62.14	—	GLOBAL TECH ETF	464287291
IWD	ISHARES TR	3,520	$630	0.3%	$157.83	—	RUS 1000 VAL ETF	464287598
XLV	SELECT SECTOR SPDR TR	4,265	$630	0.3%	$136.38	—	SBI HEALTHCARE	81369Y209
PIZ	INVESCO EXCH TRADED FD TR II	17,850	$615	0.3%	$29.92	—	DORSEY WRGT DVLP	46138E875
BWZ	SPDR SER TR	22,971	$606	0.3%	$26.72	—	BLOOMBERG SHORT	78464A334
SPHQ	INVESCO EXCHANGE TRADED FD T	9,542	$577	0.3%	$54.08	—	S&P500 QUALITY	46137V241
XLB	SELECT SECTOR SPDR TR	6,105	$567	0.3%	$92.89	—	SBI MATERIALS	81369Y100
ZION	ZIONS BANCORPORATION N A	12,607	$547	0.3%	$27.74	+48.7%	COM	989701107
FMB	FIRST TR EXCH TRADED FD III	9,947	$511	0.3%	$50.68	—	MANAGD MUN ETF	33739N108
IMFL	INVESCO EXCH TRD SLF IDX FD	19,359	$496	0.2%	$24.87	—	INTL DEV DYNAMIC	46138J437
VGT	VANGUARD WORLD FD	915	$480	0.2%	$442.16	—	INF TECH ETF	92204A702
AAPL	APPLE INC	2,747	$471	0.2%	$172.06	+4.8%	COM	037833100
PDBC	INVESCO ACTVELY MNGD ETC FD	33,553	$465	0.2%	$13.87	—	OPTIMUM YIELD	46090F100
XLP	SELECT SECTOR SPDR TR	5,436	$415	0.2%	$76.36	—	SBI CONS STPLS	81369Y308
IWM	ISHARES TR	1,970	$414	0.2%	$200.71	—	RUSSELL 2000 ETF	464287655
IGE	ISHARES TR	8,844	$398	0.2%	$44.99	—	NORTH AMERN NAT	464287374
MUNI	PIMCO ETF TR	7,510	$394	0.2%	$51.32	—	INTER MUN BD ACT	72201R866
FSMB	FIRST TR EXCH TRADED FD III	19,455	$386	0.2%	$19.61	—	SHRT DUR MNG MUN	33739P830
FTGC	FIRST TR EXCHANGE TRAD FD VI	15,616	$370	0.2%	$23.27	—	FST TR GLB FD	33739H101
VLUE	ISHARES TR	3,396	$368	0.2%	$93.79	—	MSCI USA VALUE	46432F388
SHEL	SHELL PLC	5,099	$342	0.2%	$60.38	—	SPON ADS	780259305
SGOV	ISHARES TR	3,263	$329	0.2%	$100.27	—	0-3 MNTH TREASRY	46436E718
STOT	SSGA ACTIVE TR	6,840	$321	0.2%	$46.44	—	SPDR DBLELN SHRT	78470P200
VWO	VANGUARD INTL EQUITY INDEX F	7,639	$319	0.2%	$40.68	—	FTSE EMR MKT ETF	922042858
FLRN	SPDR SER TR	9,601	$296	0.1%	$30.72	—	BLOOMBERG INVT	78468R200
PIE	INVESCO EXCH TRADED FD TR II	13,843	$288	0.1%	$18.65	—	DORSEY WRGT EMRG	46138E867
VOO	VANGUARD INDEX FDS	596	$286	0.1%	$407.28	—	S&P 500 ETF SHS	922908363
XT	ISHARES TR	4,792	$286	0.1%	$55.24	—	EXPONENTIAL TECH	46434V381
MTUM	ISHARES TR	1,457	$273	0.1%	$144.52	—	MSCI USA MMENTM	46432F396
VTI	VANGUARD INDEX FDS	982	$255	0.1%	$220.28	—	TOTAL STK MKT	922908769
AVDE	AMERICAN CENTY ETF TR	3,910	$249	0.1%	$55.65	—	INTL EQT ETF	025072703
META	META PLATFORMS INC	500	$243	0.1%	$443.21	0.0%	CL A	30303M102
EIRL	ISHARES TR	3,199	$222	0.1%	$61.13	—	MSCI IRELAND ETF	46429B507
—	CLENE INC	512,863	$218	0.1%	$0.88	—	COMMON STOCK	185634102
EDEN	ISHARES TR	1,656	$202	0.1%	$122.17	—	MSCI DENMARK ETF	46429B523
EWN	ISHARES INC	4,082	$202	0.1%	$49.48	—	MSCI NETHERL ETF	464286814
METC	RAMACO RES INC	10,000	$168	0.1%	$17.42	0.0%	COM CL A	75134P600
HCAT	HEALTH CATALYST INC	17,337	$131	0.1%	$11.91	-23.4%	COM	42225T107