Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PYLD	PIMCO ETF TR	3,280,700	$87M	4.2%	$26.52	—	MULTISECTOR BD	72201R585
EMB	ISHARES TR	693,623	$66.89M	3.2%	$96.44	—	JPMORGAN USD EMG	464288281
VCLT	VANGUARD SCOTTSDALE FDS	519,400	$39.08M	1.9%	$75.25	—	LG-TERM COR BD	92206C813
HYD	VANECK ETF TRUST	665,700	$34.29M	1.7%	$51.51	—	HIGH YLD MUNIETF	92189H409
JCPB	J P MORGAN EXCHANGE TRADED F	622,400	$29.22M	1.4%	$46.94	—	CORE PLUS BD ETF	46641Q670
QQQM	INVESCO EXCH TRADED FD TR II	75,725	$22.94M	1.1%	$302.97	—	NASDAQ 100 ETF	46138G649
HYMB	SPDR SERIES TRUST	848,826	$21.59M	1.0%	$25.44	—	ST NUVE HIGH ETF	78464A284
ANGL	VANECK ETF TRUST	595,100	$17.4M	0.8%	$29.24	—	FALLEN ANGEL HG	92189F437
EMLC	VANECK ETF TRUST	590,594	$15.1M	0.7%	$25.56	—	JP MRGAN EM LOC	92189H300
PFFD	GLOBAL X FDS	605,218	$11.31M	0.5%	$18.69	—	US PFD ETF	37954Y657
FPX	FIRST TR EXCHANGE-TRADED FD	50,325	$10.38M	0.5%	$206.18	—	US EQTY OPPT ETF	336920103
XLI	SELECT SECTOR SPDR TR	50,934	$9.435M	0.5%	$185.23	—	ST STR INDL ETF	81369Y704
EFG	ISHARES TR	72,975	$9.08M	0.4%	$124.42	—	EAFE GRWTH ETF	464288885
VWO	VANGUARD INTL EQUITY INDEX F	148,752	$8.879M	0.4%	$59.69	—	FTSE EMR MKT ETF	922042858
SCZ	ISHARES TR	105,074	$8.644M	0.4%	$82.27	—	EAFE SML CP ETF	464288273
EFV	ISHARES TR	111,377	$8.526M	0.4%	$76.55	—	EAFE VALUE ETF	464288877
FLHY	FRANKLIN TEMPLETON ETF TR	298,000	$7.238M	0.3%	$24.29	—	HIGH YIELD CORP	35473P629
VPL	VANGUARD INTL EQUITY INDEX F	60,138	$6.957M	0.3%	$115.69	—	FTSE PACIFIC ETF	922042866
VLUE	ISHARES TR	32,980	$6.59M	0.3%	$199.81	—	MSCI USA VALUE	46432F388
ALAI	THE ALGER ETF TRUST	140,332	$6.405M	0.3%	$45.64	—	AI ENABLERS ADOP	015564503
BNDX	VANGUARD CHARLOTTE FDS	99,294	$4.809M	0.2%	$48.43	—	TOTAL INT BD ETF	92203J407
JCPI	J P MORGAN EXCHANGE TRADED F	66,500	$3.182M	0.2%	$47.85	—	INFL MANA BD ETF	46654Q104
PZA	INVESCO EXCH TRADED FD TR II	123,100	$2.895M	0.1%	$23.52	—	NATL AMT MUNI	46138E537
XBI	SPDR SERIES TRUST	15,323	$2.425M	0.1%	$158.25	—	ST STR SP BIOT	78464A870
MUB	ISHARES TR	21,999	$2.368M	0.1%	$107.62	—	NATIONAL MUN ETF	464288414
XLF	SELECT SECTOR SPDR TR	41,485	$2.224M	0.1%	$53.61	—	ST STR FINL ETF	81369Y605
FBT	FIRST TR EXCHANGE-TRADED FD	8,929	$2.213M	0.1%	$247.89	—	NY ARCA BIOTECH	33733E203
AVDV	AMERICAN CENTY ETF TR	16,360	$1.686M	0.1%	$103.05	—	INTL SMCP VLU	025072802
VXUS	VANGUARD STAR FDS	19,308	$1.651M	0.1%	$85.49	—	VG TL INTL STK F	921909768
SCHM	SCHWAB STRATEGIC TR	38,065	$1.403M	0.1%	$36.87	—	US MID-CAP ETF	808524508
SPEM	SPDR INDEX SHS FDS	17,982	$931K	0.0%	$51.78	—	ST PORT MARK ETF	78463X509
SPMO	INVESCO EXCH TRADED FD TR II	4,534	$732K	0.0%	$161.54	—	S&P 500 MOMNTM	46138E339
SCHA	SCHWAB STRATEGIC TR	19,872	$718K	0.0%	$36.13	—	US SML CAP ETF	808524607
VOT	VANGUARD INDEX FDS	2,272	$696K	0.0%	$306.30	—	MCAP GR IDXVIP	922908538
VFLO	VICTORY PORTFOLIOS II	15,107	$691K	0.0%	$45.75	—	SHS FR CA FL ETF	92647X830
IWS	ISHARES TR	4,156	$684K	0.0%	$164.60	—	RUS MDCP VAL ETF	464287473
IWO	ISHARES TR	895	$353K	0.0%	$393.96	—	RUS 2000 GRW ETF	464287648
IWN	ISHARES TR	1,559	$345K	0.0%	$221.20	—	RUS 2000 VAL ETF	464287630
PSCT	INVESCO EXCH TRADED FD TR II	2,632	$243K	0.0%	$92.41	—	S&P SMLCP INFO	46138E115

Increased Positions (11)

SRLN SSGA ACTIVE ETF TR 6.1%

Value $127M (+149.0%) Shares 3,162,200 (+148.0%) Est. Cost $40.49 Unrealized —

SPHY SPDR SERIES TRUST 6.9%

Value $143M (+54.2%) Shares 6,080,823 (+53.4%) Est. Cost $23.43 Unrealized —

USHY ISHARES TR 14.8%

Value $307M (+17.4%) Shares 8,293,739 (+16.8%) Est. Cost $36.44 Unrealized —

IJH ISHARES TR 0.7%

Value $14.29M (+1072.3%) Shares 185,309 (+926.6%) Est. Cost $75.96 Unrealized —

AVUV AMERICAN CENTY ETF TR 0.9%

Value $18.94M (+189.8%) Shares 151,814 (+156.6%) Est. Cost $117.43 Unrealized —

TIP ISHARES TR 1.0%

Value $20.69M (+89.8%) Shares 189,100 (+91.4%) Est. Cost $109.92 Unrealized —

IJR ISHARES TR 0.2%

Value $4.943M (+700.5%) Shares 33,328 (+571.0%) Est. Cost $143.92 Unrealized —

DXJ WISDOMTREE TR 0.6%

Value $12.96M (+28.2%) Shares 74,703 (+17.2%) Est. Cost $148.47 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.1%

Value $1.358M (+13.8%) Shares 6,381 (+2.7%) Est. Cost $175.62 Unrealized —

DVY ISHARES TR 0.0%

Value $663K (+5.3%) Shares 4,243 (+2.0%) Est. Cost $132.67 Unrealized —

DUKZ NORTHERN LIGHTS FD TR 0.0%

Value $228K (+6.1%) Shares 8,911 (+3.2%) Est. Cost $25.29 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SRLN	SSGA ACTIVE ETF TR	3,162,200 (+148.0%)	$127M (+149.0%)	6.1%	$40.49	—	ST STR BL LN ETF	78467V608
SPHY	SPDR SERIES TRUST	6,080,823 (+53.4%)	$143M (+54.2%)	6.9%	$23.43	—	ST PORT HIGH ETF	78468R606
USHY	ISHARES TR	8,293,739 (+16.8%)	$307M (+17.4%)	14.8%	$36.44	—	BROAD USD HIGH	46435U853
IJH	ISHARES TR	185,309 (+926.6%)	$14.29M (+1072.3%)	0.7%	$75.96	—	CORE S&P MCP ETF	464287507
AVUV	AMERICAN CENTY ETF TR	151,814 (+156.6%)	$18.94M (+189.8%)	0.9%	$117.43	—	US SML CP VALU	025072877
TIP	ISHARES TR	189,100 (+91.4%)	$20.69M (+89.8%)	1.0%	$109.92	—	TIPS BD ETF	464287176
IJR	ISHARES TR	33,328 (+571.0%)	$4.943M (+700.5%)	0.2%	$143.92	—	CORE S&P SCP ETF	464287804
DXJ	WISDOMTREE TR	74,703 (+17.2%)	$12.96M (+28.2%)	0.6%	$148.47	—	JAPN HEDGE EQT	97717W851
RSP	INVESCO EXCHANGE TRADED FD T	6,381 (+2.7%)	$1.358M (+13.8%)	0.1%	$175.62	—	S&P500 EQL WGT	46137V357
DVY	ISHARES TR	4,243 (+2.0%)	$663K (+5.3%)	0.0%	$132.67	—	SELECT DIVID ETF	464287168
DUKZ	NORTHERN LIGHTS FD TR	8,911 (+3.2%)	$228K (+6.1%)	0.0%	$25.29	—	OCEA PK DIVE ETF	66538J282

Exited Positions (14)

TLT ISHARES TR 1.9%

Value $39.84M Shares 459,600 Est. Cost $86.96 Unrealized —

SHYG ISHARES TR 1.1%

Value $21.83M Shares 516,000 Est. Cost $41.56 Unrealized —

SJNK SPDR SERIES TRUST 0.8%

Value $16.35M Shares 654,600 Est. Cost $24.74 Unrealized —

GCOW PACER FDS TR 0.5%

Value $11.27M Shares 243,781 Est. Cost $46.24 Unrealized —

EFAV ISHARES TR 0.4%

Value $9.114M Shares 99,751 Est. Cost $91.37 Unrealized —

RSPG INVESCO EXCHANGE TRADED FD T 0.2%

Value $4.501M Shares 41,114 Est. Cost $109.47 Unrealized —

FXU FIRST TR EXCHANGE-TRADED FD 0.2%

Value $4.26M Shares 85,904 Est. Cost $49.59 Unrealized —

CWB SPDR SERIES TRUST 0.2%

Value $3.887M Shares 42,475 Est. Cost $90.94 Unrealized —

MLPX GLOBAL X FDS 0.2%

Value $3.845M Shares 52,001 Est. Cost $73.94 Unrealized —

OIH VANECK ETF TRUST 0.1%

Value $2.311M Shares 5,718 Est. Cost $284.77 Unrealized —

COWZ PACER FDS TR 0.0%

Value $641K Shares 10,253 Est. Cost $56.03 Unrealized —

VOE VANGUARD INDEX FDS 0.0%

Value $622K Shares 3,377 Est. Cost $161.40 Unrealized —

MTUM ISHARES TR 0.0%

Value $552K Shares 2,301 Est. Cost $250.31 Unrealized —

VBR VANGUARD INDEX FDS 0.0%

Value $307K Shares 1,413 Est. Cost $208.71 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TLT	ISHARES TR	459,600	$39.84M	1.9%	$86.96	—	—	464287432
SHYG	ISHARES TR	516,000	$21.83M	1.1%	$41.56	—	—	46434V407
SJNK	SPDR SERIES TRUST	654,600	$16.35M	0.8%	$24.74	—	—	78468R408
GCOW	PACER FDS TR	243,781	$11.27M	0.5%	$46.24	—	—	69374H709
EFAV	ISHARES TR	99,751	$9.114M	0.4%	$91.37	—	—	46429B689
RSPG	INVESCO EXCHANGE TRADED FD T	41,114	$4.501M	0.2%	$109.47	—	—	46137V365
FXU	FIRST TR EXCHANGE-TRADED FD	85,904	$4.26M	0.2%	$49.59	—	—	33734X184
CWB	SPDR SERIES TRUST	42,475	$3.887M	0.2%	$90.94	—	—	78464A359
MLPX	GLOBAL X FDS	52,001	$3.845M	0.2%	$73.94	—	—	37954Y293
OIH	VANECK ETF TRUST	5,718	$2.311M	0.1%	$284.77	—	—	92189H607
COWZ	PACER FDS TR	10,253	$641K	0.0%	$56.03	—	—	69374H881
VOE	VANGUARD INDEX FDS	3,377	$622K	0.0%	$161.40	—	—	922908512
MTUM	ISHARES TR	2,301	$552K	0.0%	$250.31	—	—	46432F396
VBR	VANGUARD INDEX FDS	1,413	$307K	0.0%	$208.71	—	—	922908611

Decreased Positions (12)

HYG ISHARES TR 7.7%

Value $159M (-25.7%) Shares 1,988,691 (-26.1%) Est. Cost $76.91 Unrealized —

BKLN INVESCO EXCH TRADED FD TR II 5.0%

Value $104M (-32.6%) Shares 5,118,118 (-32.4%) Est. Cost $20.72 Unrealized —

BND VANGUARD BD INDEX FDS 0.8%

Value $16.24M (-72.1%) Shares 221,200 (-72.0%) Est. Cost $74.37 Unrealized —

JAAA JANUS DETROIT STR TR 0.3%

Value $5.574M (-82.7%) Shares 110,400 (-82.7%) Est. Cost $50.49 Unrealized —

SPYM SPDR SERIES TRUST 8.4%

Value $175M (+10.3%) Shares 1,989,605 (-3.9%) Est. Cost $78.34 Unrealized —

VTV VANGUARD INDEX FDS 0.2%

Value $5.09M (-73.8%) Shares 23,355 (-76.4%) Est. Cost $196.20 Unrealized —

JNK SPDR SERIES TRUST 8.2%

Value $170M (-7.0%) Shares 1,760,824 (-7.6%) Est. Cost $92.56 Unrealized —

ICVT ISHARES TR 1.5%

Value $31.51M (-26.3%) Shares 258,837 (-38.4%) Est. Cost $101.79 Unrealized —

MBB ISHARES TR 1.6%

Value $34.18M (-18.6%) Shares 361,587 (-18.2%) Est. Cost $95.10 Unrealized —

IDV ISHARES TR 0.3%

Value $6.369M (-44.0%) Shares 153,737 (-42.5%) Est. Cost $42.40 Unrealized —

SCHX SCHWAB STRATEGIC TR 0.2%

Value $3.284M (-41.0%) Shares 111,581 (-48.6%) Est. Cost $26.39 Unrealized —

VBK VANGUARD INDEX FDS 0.6%

Value $12.98M (+17.7%) Shares 35,505 (-2.7%) Est. Cost $297.62 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	1,988,691 (-26.1%)	$159M (-25.7%)	7.7%	$76.91	—	IBOXX HI YD ETF	464288513
BKLN	INVESCO EXCH TRADED FD TR II	5,118,118 (-32.4%)	$104M (-32.6%)	5.0%	$20.72	—	SR LN ETF	46138G508
BND	VANGUARD BD INDEX FDS	221,200 (-72.0%)	$16.24M (-72.1%)	0.8%	$74.37	—	TOTAL BND MRKT	921937835
JAAA	JANUS DETROIT STR TR	110,400 (-82.7%)	$5.574M (-82.7%)	0.3%	$50.49	—	HENDRSON AAA CL	47103U845
SPYM	SPDR SERIES TRUST	1,989,605 (-3.9%)	$175M (+10.3%)	8.4%	$78.34	—	ST STR P500ETF	78464A854
VTV	VANGUARD INDEX FDS	23,355 (-76.4%)	$5.09M (-73.8%)	0.2%	$196.20	—	VALUE ETF	922908744
JNK	SPDR SERIES TRUST	1,760,824 (-7.6%)	$170M (-7.0%)	8.2%	$92.56	—	ST BLOO HIGH ETF	78468R622
ICVT	ISHARES TR	258,837 (-38.4%)	$31.51M (-26.3%)	1.5%	$101.79	—	CONV BD ETF	46435G102
MBB	ISHARES TR	361,587 (-18.2%)	$34.18M (-18.6%)	1.6%	$95.10	—	MBS ETF	464288588
IDV	ISHARES TR	153,737 (-42.5%)	$6.369M (-44.0%)	0.3%	$42.40	—	INTL SEL DIV ETF	464288448
SCHX	SCHWAB STRATEGIC TR	111,581 (-48.6%)	$3.284M (-41.0%)	0.2%	$26.39	—	US LRG CAP ETF	808524201
VBK	VANGUARD INDEX FDS	35,505 (-2.7%)	$12.98M (+17.7%)	0.6%	$297.62	—	SML CP GRW ETF	922908595

Unchanged Positions (19)

EWC ISHARES INC 0.8%

Value $17.17M Shares 297,846 Est. Cost $51.28 Unrealized —

HYLB DBX ETF TR 2.0%

Value $42.2M Shares 1,155,500 Est. Cost $34.70 Unrealized —

JMTG J P MORGAN EXCHANGE TRADED F 2.2%

Value $45.66M Shares 900,978 Est. Cost $51.00 Unrealized —

JBBB JANUS DETROIT STR TR 0.6%

Value $13.08M Shares 276,200 Est. Cost $46.60 Unrealized —

XYLD GLOBAL X FDS 0.2%

Value $3.895M Shares 95,500 Est. Cost $39.13 Unrealized —

FLMI FRANKLIN TEMPLETON ETF TR 0.4%

Value $8.84M Shares 351,200 Est. Cost $24.70 Unrealized —

DFAS DIMENSIONAL ETF TRUST 0.0%

Value $856K Shares 10,400 Est. Cost $71.13 Unrealized —

FMHI FIRST TR EXCH TRADED FD III 0.3%

Value $5.639M Shares 116,300 Est. Cost $47.81 Unrealized —

JBND J P MORGAN EXCHANGE TRADED F 0.9%

Value $18.82M Shares 351,700 Est. Cost $54.16 Unrealized —

DFLV DIMENSIONAL ETF TRUST 0.0%

Value $842K Shares 21,300 Est. Cost $35.71 Unrealized —

BLV VANGUARD BD INDEX FDS 1.6%

Value $32.75M Shares 475,100 Est. Cost $68.78 Unrealized —

BBHY J P MORGAN EXCHANGE TRADED F 0.6%

Value $12.25M Shares 265,700 Est. Cost $46.18 Unrealized —

PREF PRINCIPAL EXCHANGE TRADED FD 0.2%

Value $3.66M Shares 192,000 Est. Cost $19.14 Unrealized —

BBCA J P MORGAN EXCHANGE TRADED F 0.0%

Value $600K Shares 6,035 Est. Cost $93.20 Unrealized —

PHYL PGIM ETF TR 0.2%

Value $4.475M Shares 128,300 Est. Cost $34.50 Unrealized —

BKHY BNY MELLON ETF TRUST 0.3%

Value $6.265M Shares 131,600 Est. Cost $47.45 Unrealized —

BOND PIMCO ETF TR 0.9%

Value $18.82M Shares 204,100 Est. Cost $93.35 Unrealized —

FLOT ISHARES TR 0.3%

Value $6.254M Shares 122,500 Est. Cost $51.09 Unrealized —

CMBS ISHARES TR 0.1%

Value $3.079M Shares 63,286 Est. Cost $47.41 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EWC	ISHARES INC	297,846	$17.17M	0.8%	$51.28	—	MSCI CDA ETF	464286509
HYLB	DBX ETF TR	1,155,500	$42.2M	2.0%	$34.70	—	XTRACK USD HIGH	233051432
JMTG	J P MORGAN EXCHANGE TRADED F	900,978	$45.66M	2.2%	$51.00	—	MORTGAGE BACKED	46654Q575
JBBB	JANUS DETROIT STR TR	276,200	$13.08M	0.6%	$46.60	—	B-BBB CLO ETF	47103U753
XYLD	GLOBAL X FDS	95,500	$3.895M	0.2%	$39.13	—	S&P 500 COVERED	37954Y475
FLMI	FRANKLIN TEMPLETON ETF TR	351,200	$8.84M	0.4%	$24.70	—	FRANKLIN DYN MUN	35473P868
DFAS	DIMENSIONAL ETF TRUST	10,400	$856K	0.0%	$71.13	—	US SMALL CAP ETF	25434V500
FMHI	FIRST TR EXCH TRADED FD III	116,300	$5.639M	0.3%	$47.81	—	MUNI HI INCM ETF	33739P301
JBND	J P MORGAN EXCHANGE TRADED F	351,700	$18.82M	0.9%	$54.16	—	ACTIVE BOND ETF	46654Q716
DFLV	DIMENSIONAL ETF TRUST	21,300	$842K	0.0%	$35.71	—	US LARG VALU ETF	25434V666
BLV	VANGUARD BD INDEX FDS	475,100	$32.75M	1.6%	$68.78	—	LONG TERM BOND	921937793
BBHY	J P MORGAN EXCHANGE TRADED F	265,700	$12.25M	0.6%	$46.18	—	BET USD HIG ETF	46641Q878
PREF	PRINCIPAL EXCHANGE TRADED FD	192,000	$3.66M	0.2%	$19.14	—	SPECTRUM PFD	74255Y888
BBCA	J P MORGAN EXCHANGE TRADED F	6,035	$600K	0.0%	$93.20	—	BETA CDA ETF NEW	46641Q225
PHYL	PGIM ETF TR	128,300	$4.475M	0.2%	$34.50	—	ACTV HY BD ETF	69344A206
BKHY	BNY MELLON ETF TRUST	131,600	$6.265M	0.3%	$47.45	—	HIGH YIELD ETF	09661T800
BOND	PIMCO ETF TR	204,100	$18.82M	0.9%	$93.35	—	ACTIVE BD ETF	72201R775
FLOT	ISHARES TR	122,500	$6.254M	0.3%	$51.09	—	FLTG RATE NT ETF	46429B655
CMBS	ISHARES TR	63,286	$3.079M	0.1%	$47.41	—	CMBS ETF	46429B366