Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
USHY	ISHARES TR	7,715,343	$291M	12.0%	$36.34	—	BROAD USD HIGH	46435U853
HYG	ISHARES TR	3,381,491	$275M	11.3%	$76.91	—	IBOXX HI YD ETF	464288513
JNK	SPDR SERIES TRUST	2,090,524	$205M	8.4%	$92.56	—	BLOOMBERG HIGH Y	78468R622
SPYM	SPDR SERIES TRUST	2,058,656	$161M	6.6%	$78.34	—	PORTFOLIO S&P500	78464A854
BND	VANGUARD BD INDEX FDS	1,888,600	$140M	5.8%	$74.37	—	TOTAL BND MRKT	921937835
BKLN	INVESCO EXCH TRADED FD TR II	6,087,886	$127M	5.3%	$21.04	—	SR LN ETF	46138G508
SPHY	SPDR SERIES TRUST	3,748,100	$89.73M	3.7%	$23.42	—	PORTFLI HIGH YLD	78468R606
EMLC	VANECK ETF TRUST	2,246,547	$57.31M	2.4%	$24.36	—	JP MRGAN EM LOC	92189H300
SHYG	ISHARES TR	1,238,300	$53.62M	2.2%	$41.56	—	0-5YR HI YL CP	46434V407
PYLD	PIMCO ETF TR	1,938,800	$52.04M	2.1%	$26.66	—	MULTISECTOR BD	72201R585
CWB	SPDR SERIES TRUST	573,787	$51.93M	2.1%	$90.50	—	BBG CONV SEC ETF	78464A359
SJNK	SPDR SERIES TRUST	1,913,900	$49M	2.0%	$24.74	—	BLOOMBERG SHT TE	78468R408
JMTG	J P MORGAN EXCHANGE TRADED F	900,978	$45.95M	1.9%	$51.00	—	MORTGAGE BACKED	46654Q575
HYLB	DBX ETF TR	1,155,500	$42.88M	1.8%	$34.70	—	XTRACK USD HIGH	233051432
MBB	ISHARES TR	416,463	$39.63M	1.6%	$95.11	—	MBS ETF	464288588
VUG	VANGUARD INDEX FDS	73,948	$35.47M	1.5%	$479.61	—	GROWTH ETF	922908736
FALN	ISHARES TR	1,133,100	$31.48M	1.3%	$25.68	—	FALN ANGLS USD	46435G474
ANGL	VANECK ETF TRUST	1,049,200	$31.19M	1.3%	$27.41	—	FALLEN ANGEL HG	92189F437
VOT	VANGUARD INDEX FDS	97,667	$28.69M	1.2%	$293.79	—	MCAP GR IDXVIP	922908538
IMTM	ISHARES TR	585,047	$28.01M	1.2%	$47.88	—	MSCI INTL MOMENT	46434V449
VCLT	VANGUARD SCOTTSDALE FDS	342,600	$26.6M	1.1%	$75.91	—	LG-TERM COR BD	92206C813
FLRN	SPDR SERIES TRUST	835,100	$25.77M	1.1%	$30.86	—	BLOOMBERG INVT	78468R200
PFF	ISHARES TR	791,593	$25.03M	1.0%	$31.62	—	PFD AND INCM SEC	464288687
AVDV	AMERICAN CENTY ETF TR	277,008	$24.66M	1.0%	$89.03	—	INTL SMCP VLU	025072802
EMB	ISHARES TR	248,300	$23.64M	1.0%	$95.04	—	JPMORGAN USD EMG	464288281
DFIV	DIMENSIONAL ETF TRUST	495,900	$22.87M	0.9%	$46.12	—	INTERNATNAL VAL	25434V807
ICVT	ISHARES TR	219,900	$22M	0.9%	$100.05	—	CONV BD ETF	46435G102
HYDB	ISHARES TR	427,800	$20.47M	0.8%	$47.82	—	HIGH YLD SYSTM B	46435G250
FLOT	ISHARES TR	374,000	$19.11M	0.8%	$51.09	—	FLTG RATE NT ETF	46429B655
BOND	PIMCO ETF TR	204,100	$19.05M	0.8%	$93.35	—	ACTIVE BD ETF	72201R775
JBND	J P MORGAN EXCHANGE TRADED F	351,700	$19.05M	0.8%	$54.16	—	ACTIVE BOND ETF	46654Q716
ITA	ISHARES TR	90,844	$19.01M	0.8%	$165.56	—	US AER DEF ETF	464288760
VWO	VANGUARD INTL EQUITY INDEX F	320,478	$17.36M	0.7%	$53.76	—	FTSE EMR MKT ETF	922042858
VBK	VANGUARD INDEX FDS	53,355	$15.88M	0.7%	$297.62	—	SML CP GRW ETF	922908595
AVUV	AMERICAN CENTY ETF TR	157,035	$15.63M	0.6%	$99.53	—	US SML CP VALU	025072877
CLOI	VANECK ETF TRUST	265,100	$14.08M	0.6%	$53.10	—	CLO ETF	92189H748
DISV	DIMENSIONAL ETF TRUST	356,474	$12.72M	0.5%	$35.23	—	INTL SMALL CAP V	25434V781
BBHY	J P MORGAN EXCHANGE TRADED F	265,700	$12.49M	0.5%	$46.18	—	BETABUILDERS USD	46641Q878
EWC	ISHARES INC	246,674	$12.47M	0.5%	$50.55	—	MSCI CDA ETF	464286509
PFFD	GLOBAL X FDS	560,100	$10.88M	0.4%	$19.43	—	US PFD ETF	37954Y657
CLOZ	SERIES PORTFOLIOS TR	403,327	$10.82M	0.4%	$26.82	—	ELDRIDGE BBB B	81752T528
LONZ	PIMCO ETF TR	208,900	$10.67M	0.4%	$50.64	—	SR LN ACTIVE ETF	72201R627
FTSL	FIRST TR EXCHANGE-TRADED FD	231,800	$10.63M	0.4%	$46.24	—	SENIOR LN FD	33738D309
FLTR	VANECK ETF TRUST	412,000	$10.53M	0.4%	$25.45	—	IG FLOATING RATE	92189F486
HYGV	FLEXSHARES TR	248,800	$10.25M	0.4%	$40.88	—	HIG YLD VL ETF	33939L662
HYLS	FIRST TR EXCHANGE-TRADED FD	241,600	$10.16M	0.4%	$41.87	—	FIRST TR TA HIYL	33738D408
FLBL	FRANKLIN TEMPLETON ETF TR	408,400	$9.81M	0.4%	$24.15	—	SENIOR LOAN ETF	35473P595
EBND	SPDR SERIES TRUST	358,900	$7.666M	0.3%	$21.36	—	BLOOMBERG EMERGI	78464A391
FPE	FIRST TR EXCH TRADED FD III	412,900	$7.531M	0.3%	$16.70	—	PFD SECS INC ETF	33739E108
PFFA	ETFIS SER TR I	325,900	$7.075M	0.3%	$21.71	—	VIRTUS INFRCAP	26923G822
EWI	ISHARES INC	135,257	$7.027M	0.3%	$51.95	—	MSCI ITALY ETF	46434G830
FPEI	FIRST TR EXCH TRADED FD III	355,500	$6.875M	0.3%	$19.34	—	INSTL PFD SECS	33739P855
BKHY	BNY MELLON ETF TRUST	131,600	$6.409M	0.3%	$47.45	—	HIGH YIELD ETF	09661T800
VCIT	VANGUARD SCOTTSDALE FDS	72,800	$6.123M	0.3%	$84.11	—	INT-TERM CORP	92206C870
EZU	ISHARES INC	92,200	$5.711M	0.2%	$53.25	—	MSCI EURZONE ETF	464286608
FMHI	FIRST TR EXCH TRADED FD III	116,300	$5.525M	0.2%	$47.81	—	MUNI HI INCM ETF	33739P301
HYMB	SPDR SERIES TRUST	215,200	$5.365M	0.2%	$25.50	—	NUVEEN ICE HIGH	78464A284
LEMB	ISHARES INC	119,900	$4.941M	0.2%	$41.21	—	JP MORGAN EM ETF	464286517
HYEM	VANECK ETF TRUST	235,400	$4.72M	0.2%	$19.65	—	EMERGING MRKT HI	92189F353
PREF	PRINCIPAL EXCHANGE TRADED FD	246,100	$4.71M	0.2%	$19.14	—	SPECTRUM PFD	74255Y888
PHYL	PGIM ETF TR	128,300	$4.587M	0.2%	$34.50	—	ACTV HY BD ETF	69344A206
SRLN	SSGA ACTIVE ETF TR	105,717	$4.396M	0.2%	$41.74	—	BLACKSTONE SENR	78467V608
EMHY	ISHARES INC	102,900	$4.084M	0.2%	$39.64	—	JP MRGN EM HI BD	464286285
IVV	ISHARES TR	5,651	$3.782M	0.2%	$669.30	—	CORE S&P500 ETF	464287200
QQQM	INVESCO EXCH TRADED FD TR II	12,664	$3.13M	0.1%	$247.12	—	NASDAQ 100 ETF	46138G649
CMBS	ISHARES TR	63,286	$3.105M	0.1%	$47.41	—	CMBS ETF	46429B366
PFXF	VANECK ETF TRUST	139,300	$2.475M	0.1%	$17.77	—	PREFERRED SECURT	92189F429
FLHY	FRANKLIN TEMPLETON ETF TR	96,400	$2.365M	0.1%	$24.39	—	HIGH YIELD CORP	35473P629
HYBL	SSGA ACTIVE TR	81,800	$2.344M	0.1%	$28.36	—	SPDR BLACKSTONE	78470P846
FLMI	FRANKLIN TEMPLETON ETF TR	86,300	$2.138M	0.1%	$24.44	—	FRANKLIN DYN MUN	35473P868
SMMU	PIMCO ETF TR	41,300	$2.089M	0.1%	$50.57	—	SHTRM MUN BD ACT	72201R874
CEMB	ISHARES INC	39,300	$1.816M	0.1%	$46.22	—	JP MRG EM CRP BD	464286251
SHYD	VANECK ETF TRUST	66,000	$1.511M	0.1%	$22.49	—	SHRT HGH YLD MUN	92189F387
BNDX	VANGUARD CHARLOTTE FDS	30,156	$1.492M	0.1%	$49.58	—	TOTAL INT BD ETF	92203J407
LQD	ISHARES TR	12,954	$1.444M	0.1%	$109.03	—	IBOXX INV CP ETF	464287242
TLT	ISHARES TR	16,070	$1.436M	0.1%	$91.03	—	20 YR TR BD ETF	464287432
RSP	INVESCO EXCHANGE TRADED FD T	7,461	$1.415M	0.1%	$174.63	—	S&P500 EQL WGT	46137V357
HYD	VANECK ETF TRUST	27,426	$1.396M	0.1%	$51.69	—	HIGH YLD MUNIETF	92189H409
IJH	ISHARES TR	21,290	$1.389M	0.1%	$65.26	—	CORE S&P MCP ETF	464287507
PFRL	PGIM ETF TR	23,300	$1.168M	0.0%	$49.92	—	FLOATING RT INC	69344A883
VXUS	VANGUARD STAR FDS	15,156	$1.113M	0.0%	$73.46	—	VG TL INTL STK F	921909768
JMHI	J P MORGAN EXCHANGE TRADED F	22,000	$1.111M	0.0%	$50.37	—	HIGH YIELD MUNI	46654Q799
VWOB	VANGUARD WHITEHALL FDS	16,154	$1.081M	0.0%	$66.90	—	EM MK GOV BD ETF	921946885
SPMO	INVESCO EXCH TRADED FD TR II	6,596	$799K	0.0%	$121.06	—	S&P 500 MOMNTM	46138E339
JMST	J P MORGAN EXCHANGE TRADED F	14,500	$740K	0.0%	$51.04	—	ULTRA SHT MUNCPL	46641Q654
IJR	ISHARES TR	6,186	$735K	0.0%	$118.83	—	CORE S&P SCP ETF	464287804
DVY	ISHARES TR	5,069	$720K	0.0%	$132.19	—	SELECT DIVID ETF	464287168
SPEM	SPDR INDEX SHS FDS	15,258	$714K	0.0%	$46.81	—	PORTFOLIO EMG MK	78463X509
VOE	VANGUARD INDEX FDS	4,074	$711K	0.0%	$161.40	—	MCAP VL IDXVIP	922908512
VTEB	VANGUARD MUN BD FDS	14,189	$710K	0.0%	$50.07	—	TAX EXEMPT BD	922907746
COWZ	PACER FDS TR	12,150	$698K	0.0%	$56.03	—	US CASH COWS 100	69374H881
CQQQ	INVESCO EXCH TRADED FD TR II	7,012	$414K	0.0%	$59.01	—	CHINA TECHNLGY	46138E800
VBR	VANGUARD INDEX FDS	1,716	$358K	0.0%	$208.71	—	SM CP VAL ETF	922908611
IDV	ISHARES TR	7,180	$262K	0.0%	$36.55	—	INTL SEL DIV ETF	464288448