Clearwater Capital Advisors, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DGRW	WISDOMTREE TR	1,053,932	$41,008	8.8%	$38.94	—	US QTLY DIV GRT	97717X669
NEAR	ISHARES U S ETF TR	810,536	$39,303	8.5%	$49.52	—	SHT MAT BD ETF	46431W507
—	WISDOMTREE TR	1,073,839	$26,964	5.8%	$25.07	—	FLOATNG RAT TREA	97717X628
SHYG	ISHARES TR	658,073	$26,895	5.8%	$40.87	—	0-5YR HI YL CP	46434V407
DBEF	DBX ETF TR	737,549	$19,766	4.3%	$30.39	—	XTRACK MSCI EAFE	233051200
INTF	ISHARES TR	970,020	$19,653	4.2%	$25.60	—	MULTIFACTOR INTL	46434V274
SCHX	SCHWAB STRATEGIC TR	317,643	$19,456	4.2%	$71.28	—	US LRG CAP ETF	808524201
FLRN	SPDR SER TR	651,654	$19,159	4.1%	$30.52	—	BLOMBERG BRC INV	78468R200
LRGF	ISHARES TR	647,127	$17,117	3.7%	$32.51	—	MULTIFACTOR USA	46434V282
SMLF	ISHARES TR	514,360	$15,323	3.3%	$31.59	—	MULTIFACTOR USA	46434V290
SCHE	SCHWAB STRATEGIC TR	620,731	$12,843	2.8%	$24.40	—	EMRG MKTEQ ETF	808524706
MUB	ISHARES TR	99,757	$11,274	2.4%	$111.51	—	NATIONAL MUN ETF	464288414
AGGY	WISDOMTREE TR	200,001	$10,330	2.2%	$50.99	—	YIELD ENHANCD US	97717X511
FPE	FIRST TR EXCH TRADED FD III	587,995	$9,643	2.1%	$18.82	—	PFD SECS INC ETF	33739E108
EMGF	ISHARES INC	243,025	$8,348	1.8%	$39.22	—	MLT FCTR EMG MKT	46434G889
DLN	WISDOMTREE TR	84,680	$6,854	1.5%	$77.01	—	US LARGECAP DIVD	97717W307
SCHZ	SCHWAB STRATEGIC TR	115,102	$6,247	1.3%	$52.13	—	US AGGREGATE B	808524839
SCHA	SCHWAB STRATEGIC TR	111,919	$5,766	1.2%	$66.68	—	US SML CAP ETF	808524607
SCHM	SCHWAB STRATEGIC TR	135,296	$5,704	1.2%	$52.05	—	US MID-CAP ETF	808524508
VUG	VANGUARD INDEX FDS	36,001	$5,641	1.2%	$107.69	—	GROWTH ETF	922908736
IGIB	ISHARES TR	100,241	$5,505	1.2%	$54.67	—	INTRM TR CRP ETF	464288638
VCIT	VANGUARD SCOTTSDALE FDS	58,033	$5,054	1.1%	$88.77	—	INT-TERM CORP	92206C870
SCHC	SCHWAB STRATEGIC TR	197,967	$4,830	1.0%	$30.95	—	INTL SCEQT ETF	808524888
FTC	FIRST TR LARGE CAP GROWTH A	73,725	$4,417	1.0%	$50.35	—	COM SHS	33735K108
ITM	VANECK VECTORS ETF TR	78,418	$3,852	0.8%	$47.47	—	AMT FREE INT ETF	92189H201
AAPL	APPLE INC	14,627	$3,719	0.8%	$25.76	+175.9%	COM	037833100
EZM	WISDOMTREE TR	134,248	$3,547	0.8%	$42.40	—	US MIDCAP FUND	97717W570
IBB	ISHARES TR	30,200	$3,254	0.7%	$114.13	—	NASDAQ BIOTECH	464287556
BOTZ	GLOBAL X FDS	171,999	$3,120	0.7%	$20.36	—	RBTCS ARTFL INTE	37954Y715
GSIE	GOLDMAN SACHS ETF TR	130,255	$3,004	0.6%	$24.45	—	ACTIVEBETA INT	381430107
CIBR	FIRST TR EXCHANGE TRADED FD	115,838	$2,985	0.6%	$25.18	—	NASDAQ CYB ETF	33734X846
HEDJ	WISDOMTREE TR	55,273	$2,832	0.6%	$53.54	—	EUROPE HEDGED EQ	97717X701
SNSR	GLOBAL X FDS	152,621	$2,784	0.6%	$18.24	—	INTERNET OF THNG	37954Y780
PGX	INVESCO EXCHANGE-TRADED FD T	209,065	$2,751	0.6%	$14.52	—	PFD ETF	46138E511
TDIV	FIRST TR EXCHANGE-TRADED FD	75,824	$2,683	0.6%	$26.68	—	NASD TECH DIV	33738R118
GSLC	GOLDMAN SACHS ETF TR	50,713	$2,647	0.6%	$45.53	—	ACTIVEBETA US LG	381430503
FIW	FIRST TR EXCHANGE TRADED FD	54,005	$2,578	0.6%	$50.43	—	WTR ETF	33733B100
VRP	INVESCO EXCHANGE-TRADED FD T	114,248	$2,452	0.5%	$24.64	—	VAR RATE PFD	46138G870
DXJ	WISDOMTREE TR	51,220	$2,159	0.5%	$42.35	—	JAPN HEDGE EQT	97717W851
SCHG	SCHWAB STRATEGIC TR	25,527	$2,033	0.4%	$56.47	—	US LCAP GR ETF	808524300
FMB	FIRST TR EXCH TRADED FD III	35,499	$1,919	0.4%	$52.73	—	MANAGD MUN ETF	33739N108
DHS	WISDOMTREE TR	31,761	$1,798	0.4%	$66.97	—	US HIGH DIVIDEND	97717W208
VOT	VANGUARD INDEX FDS	14,014	$1,775	0.4%	$103.19	—	MCAP GR IDXVIP	922908538
HEFA	ISHARES TR	72,441	$1,754	0.4%	$25.54	—	HDG MSCI EAFE	46434V803
DBJP	DBX ETF TR	47,080	$1,669	0.4%	$33.40	—	XTRACK MSCI JAPN	233051507
MGK	VANGUARD WORLD FD	13,041	$1,657	0.4%	$83.95	—	MEGA GRWTH IND	921910816
HYD	VANECK VECTORS ETF TR	30,003	$1,568	0.3%	$61.04	—	HIGH YLD MUN ETF	92189H409
GEM	GOLDMAN SACHS ETF TR	56,077	$1,468	0.3%	$31.87	—	ACTIVEBETA EME	381430206
DBEZ	DBX ETF TR	59,155	$1,455	0.3%	$24.62	—	XTRACK MSCI EURO	233051697
PFF	ISHARES TR	45,392	$1,445	0.3%	$37.54	—	PFD AND INCM SEC	464288687
SCHF	SCHWAB STRATEGIC TR	55,265	$1,428	0.3%	$31.69	—	INTL EQTY ETF	808524805
QQQ	INVESCO QQQ TR	7,244	$1,379	0.3%	$171.62	—	UNIT SER 1	46090E103
FLOT	ISHARES TR	26,950	$1,314	0.3%	$50.57	—	FLTG RATE NT ETF	46429B655
FTA	FIRST TR LRG CP VL ALPHADEX	34,497	$1,269	0.3%	$41.12	—	COM SHS	33735J101
VTEB	VANGUARD MUN BD FD INC	23,883	$1,263	0.3%	$50.98	—	TAX EXEMPT BD	922907746
RSPT	INVESCO EXCHANGE TRADED FD T	7,590	$1,210	0.3%	$158.70	—	S&P500 EQL TEC	46137V282
IVV	ISHARES TR	4,609	$1,191	0.3%	$238.91	—	CORE S&P500 ETF	464287200
XLF	SELECT SECTOR SPDR TR	56,690	$1,180	0.3%	$24.56	—	SBI INT-FINL	81369Y605
SUB	ISHARES TR	10,900	$1,159	0.2%	$106.06	—	SHRT NAT MUN ETF	464288158
FXO	FIRST TR EXCHANGE TRADED FD	54,219	$1,146	0.2%	$23.96	—	FINLS ALPHADEX	33734X135
DTD	WISDOMTREE TR	14,578	$1,142	0.2%	$76.99	—	US TOTAL DIVIDND	97717W109
DES	WISDOMTREE TR	62,681	$1,130	0.2%	$42.42	—	US SMALLCAP DIVD	97717W604
QUAL	ISHARES TR	13,850	$1,122	0.2%	$81.49	—	USA QUALITY FCTR	46432F339
RPG	INVESCO EXCHANGE TRADED FD T	11,047	$1,106	0.2%	$114.75	—	S&P500 PUR GWT	46137V266
MSFT	MICROSOFT CORP	6,416	$1,012	0.2%	$72.22	+116.5%	COM	594918104
DEM	WISDOMTREE TR	31,311	$1,010	0.2%	$36.59	—	EMER MKT HIGH FD	97717W315
DON	WISDOMTREE TR	38,810	$938	0.2%	$50.59	—	US MIDCAP DIVID	97717W505
VLUE	ISHARES TR	14,732	$928	0.2%	$79.45	—	EDGE MSCI USA VL	46432F388
XLK	SELECT SECTOR SPDR TR	11,268	$906	0.2%	$46.87	—	TECHNOLOGY	81369Y803
—	ETF MANAGERS TR	25,370	$905	0.2%	$36.37	—	PRIME CYBR SCRTY	26924G201
USMV	ISHARES TR	16,435	$888	0.2%	$51.62	—	MSCI MIN VOL ETF	46429B697
FEX	FIRST TR LRGE CP CORE ALPHA	18,607	$886	0.2%	$44.87	—	COM SHS	33734K109
SCZ	ISHARES TR	19,626	$880	0.2%	$49.91	—	EAFE SML CP ETF	464288273
SPLV	INVESCO EXCHANGE-TRADED FD T	16,674	$782	0.2%	$47.42	—	S&P500 LOW VOL	46138E354
VCSH	VANGUARD SCOTTSDALE FDS	9,806	$776	0.2%	$80.72	—	SHRT TRM CORP BD	92206C409
SPY	SPDR S&P 500 ETF TR	2,915	$751	0.2%	$215.36	—	TR UNIT	78462F103
—	HD SUPPLY HLDGS INC	25,925	$737	0.2%	$33.90	—	COM	40416M105
EEM	ISHARES TR	21,542	$735	0.2%	$37.61	—	MSCI EMG MKT ETF	464287234
OPPJ	WISDOMTREE TR	21,020	$701	0.2%	$34.48	—	JPN SCAP HDG EQT	97717W521
EEMV	ISHARES INC	14,684	$689	0.1%	$55.31	—	MIN VOL EMRG MKT	464286533
IXN	ISHARES TR	3,768	$687	0.1%	$96.85	—	GLOBAL TECH ETF	464287291
SPGP	INVESCO EXCHANGE TRADED FD T	15,163	$676	0.1%	$50.83	—	S&P 500 GARP ETF	46137V431
EES	WISDOMTREE TR	29,503	$659	0.1%	$40.03	—	US SMALLCAP FUND	97717W562
MBB	ISHARES TR	5,570	$615	0.1%	$106.23	—	MBS ETF	464288588
HEWJ	ISHARES TR	21,461	$584	0.1%	$27.77	—	HDG MSCI JAPAN	46434V886
IEMG	ISHARES INC	14,079	$570	0.1%	$52.16	—	CORE MSCI EMKT	46434G103
DGRS	WISDOMTREE TR	21,195	$533	0.1%	$29.36	—	US S CAP QTY DIV	97717X651
MTUM	ISHARES TR	4,986	$531	0.1%	$104.37	—	USA MOMENTUM FCT	46432F396
OPPE	WISDOMTREE TR	22,983	$528	0.1%	$26.41	—	EUR HDG SMLCAP	97717X552
HEZU	ISHARES TR	22,338	$527	0.1%	$27.39	—	CUR HD EURZN ETF	46434V639
FYC	FIRST TR EXCHANGE-TRADED ALP	15,855	$517	0.1%	$31.82	—	SML CP GRW ALP	33737M300
ROBO	EXCHANGE TRADED CONCEPTS TR	15,369	$516	0.1%	$32.53	—	ROBO GLB ETF	301505707
IJH	ISHARES TR	3,588	$516	0.1%	$171.05	—	CORE S&P MCP ETF	464287507
VRIG	INVESCO ACTIVELY MANAGED ETF	22,164	$504	0.1%	$24.78	—	VAR RATE INVT	46090A879
IWO	ISHARES TR	3,008	$476	0.1%	$141.58	—	RUS 2000 GRW ETF	464287648
FEM	FIRST TR EXCHANGE TRADED ALP	26,789	$471	0.1%	$20.93	—	EMERG MKT ALPH	33737J182
AMZN	AMAZON COM INC	239	$466	0.1%	$78.84	+22.8%	COM	023135106
HYMB	SPDR SER TR	8,131	$445	0.1%	$58.60	—	NUVEEN BBG BRCLY	78464A284
PRFZ	INVESCO EXCHANGE TRADED FD T	4,918	$440	0.1%	$139.13	—	FTSE RAFI 1500	46137V597
BIL	SPDR SER TR	4,708	$431	0.1%	$91.57	—	SPDR BLOOMBERG	78468R663
SHY	ISHARES TR	4,803	$416	0.1%	$84.25	—	1 3 YR TREAS BD	464287457
IJR	ISHARES TR	7,227	$406	0.1%	$75.69	—	CORE S&P SCP ETF	464287804
SCHV	SCHWAB STRATEGIC TR	9,061	$401	0.1%	$46.24	—	US LCAP VA ETF	808524409
VBK	VANGUARD INDEX FDS	2,533	$381	0.1%	$126.52	—	SML CP GRW ETF	922908595
AMGN	AMGEN INC	1,858	$377	0.1%	$117.02	+55.7%	COM	031162100
VFH	VANGUARD WORLD FDS	7,376	$374	0.1%	$60.88	—	FINANCIALS ETF	92204A405
JNJ	JOHNSON & JOHNSON	2,838	$372	0.1%	$100.45	+19.6%	COM	478160104
VYM	VANGUARD WHITEHALL FDS	5,224	$370	0.1%	$74.35	—	HIGH DIV YLD	921946406
HD	HOME DEPOT INC	1,842	$344	0.1%	$110.40	+72.2%	COM	437076102
GVIP	GOLDMAN SACHS ETF TR	6,711	$342	0.1%	$53.06	—	HEDGE IND ETF	381430545
VMBS	VANGUARD SCOTTSDALE FDS	6,240	$340	0.1%	$52.50	—	MORTG-BACK SEC	92206C771
META	FACEBOOK INC	2,019	$337	0.1%	$115.58	+68.2%	CL A	30303M102
IJT	ISHARES TR	2,390	$329	0.1%	$146.65	—	S&P SML 600 GWT	464287887
VO	VANGUARD INDEX FDS	2,482	$327	0.1%	$131.67	—	MID CAP ETF	922908629
INTC	INTEL CORP	6,001	$325	0.1%	$31.45	+66.4%	COM	458140100
IDU	ISHARES TR	2,295	$317	0.1%	$127.27	—	U.S. UTILITS ETF	464287697
STIP	ISHARES TR	3,168	$316	0.1%	$100.15	—	0-5 YR TIPS ETF	46429B747
BABA	ALIBABA GROUP HLDG LTD	1,606	$312	0.1%	$124.52	—	SPONSORED ADS	01609W102
TIP	ISHARES TR	2,637	$311	0.1%	$113.02	—	TIPS BD ETF	464287176
RPV	INVESCO EXCHANGE TRADED FD T	7,782	$311	0.1%	$65.35	—	S&P500 PUR VAL	46137V258
LMT	LOCKHEED MARTIN CORP	918	$311	0.1%	$225.14	+48.8%	COM	539830109
LMBS	FIRST TR EXCHANGE-TRADED FD	5,950	$303	0.1%	$51.32	—	FST LOW OPPT EFT	33739Q200
IWP	ISHARES TR	2,454	$298	0.1%	$101.28	—	RUS MD CP GR ETF	464287481
IJS	ISHARES TR	2,944	$294	0.1%	$117.42	—	SP SMCP600VL ETF	464287879
MCD	MCDONALDS CORP	1,771	$293	0.1%	$112.71	+52.5%	COM	580135101
LQD	ISHARES TR	2,248	$278	0.1%	$120.40	—	IBOXX INV CP ETF	464287242
FNX	FIRST TR MID CAP CORE ALPHAD	5,725	$276	0.1%	$53.62	—	COM SHS	33735B108
VWO	VANGUARD INTL EQUITY INDEX F	8,230	$276	0.1%	$42.02	—	FTSE EMR MKT ETF	922042858
IVW	ISHARES TR	1,673	$276	0.1%	$138.05	—	S&P 500 GRWT ETF	464287309
JPM	JPMORGAN CHASE & CO	3,046	$274	0.1%	$60.96	+70.0%	COM	46625H100
VNQ	VANGUARD INDEX FDS	3,822	$267	0.1%	$87.66	—	REAL ESTATE ETF	922908553
IYW	ISHARES TR	1,304	$267	0.1%	$105.12	—	U.S. TECH ETF	464287721
DIS	DISNEY WALT CO	2,676	$259	0.1%	$97.67	+26.5%	COM DISNEY	254687106
PRF	INVESCO EXCHANGE TRADED FD T	2,767	$256	0.1%	$112.58	—	FTSE RAFI 1000	46137V613
IYF	ISHARES TR	2,612	$254	0.1%	$96.68	—	U.S. FINLS ETF	464287788
IJK	ISHARES TR	1,383	$247	0.1%	$169.77	—	S&P MC 400GR ETF	464287606
PEY	INVESCO EXCHANGE TRADED FD T	18,859	$244	0.1%	$17.60	—	HIG YLD EQ DIV	46137V563
SPHQ	INVESCO EXCHANGE TRADED FD T	7,918	$237	0.1%	$27.82	—	S&P500 QUALITY	46137V241
CSCO	CISCO SYS INC	5,679	$223	0.0%	$27.67	+32.6%	COM	17275R102
DVY	ISHARES TR	2,847	$209	0.0%	$93.13	—	SELECT DIVID ETF	464287168