White Pine Investment CO Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JAAA	Janus Henderson AAA CLO ETF	195,464 (+108.5%)	$10 (+107.7%)	2.3%	$0.05	—	HENDRSON AAA CL	47103U845
AVEM	Avantis Emerging Markets Equity ETF	61,672 (+65.5%)	$5 (+69.7%)	1.1%	$0.08	—	AVANTIS EMGMKT	025072604
SCHR	Schwab Intermediate Treasury	436,376 (+7.3%)	$11 (+7.1%)	2.6%	$0.03	—	INT TRM US TRES	808524854
IEF	iShares 7-10 Year Treasury Bond ETF	70,753 (+7.3%)	$7 (+6.9%)	1.6%	$55.29	—	TR 7 10 YR Tsy	464287440
SCHM	Schwab US Mid Cap ETF	237,297 (+4.6%)	$7 (+6.1%)	1.7%	$0.03	—	US MID CAP ETF	808524508
AVLV	Avantis US Large Cap Value ETF	82,516 (+1.7%)	$6 (+6.6%)	1.5%	$0.07	—	US LARGE CAP VLU	025072349
AVUV	Avantis US Small Cap Value ETF	63,711 (+2.4%)	$6 (+5.0%)	1.5%	$0.09	—	US SML CP VALU	025072877
FLTR	VanEck Vectors Investment Grade Floating Rate ETF	533,046 (+2.1%)	$14 (+1.7%)	3.2%	$8.86	—	INVT GRADE FLTG	92189F486
TIP	iShares TIPS Bond ETF	94,519 (+3.4%)	$10 (+2.2%)	2.4%	$73.69	—	TIPS BD ETF	464287176
XLI	Industrial Select Sector SPDR	8,931 (+9.2%)	$1 (+9.7%)	0.3%	$0.14	—	SPDR TR INDL	81369Y704
QQQE	Direxion NASDAQ-100 Equal Wtd ETF	34,649 (+2.6%)	$4 (+3.4%)	0.8%	$29.65	—	TR NAS100 EQL WGT	25459Y207
AMLP	Alps Alerian Mlp Etf	93,046 (+1.7%)	$4 (+1.9%)	1.0%	$9.50	—	ALERIAN MLP	00162Q452
DON	WisdomTree US MidCap Dividend ETF	173,338 (+2.3%)	$9 (+0.9%)	2.1%	$19.05	—	MIDCAP DIVI FD	97717W505
XLU	Utilities Select Sector SPDR F	13,728 (+118.9%)	$1 (+7.1%)	0.1%	$0.06	—	SBI INT-UTILS	81369Y886
MINT	PIMCO Enhanced Short Maturity Active ETF	4,433 (+1.6%)	$0 (+1.4%)	0.1%	$88.20	—	Enhan SHT MA AC	72201R833
XLE	Sector Spdr Engy Select	38,733 (+100.4%)	$2 (+0.3%)	0.4%	$0.07	—	ENERGY	81369Y506
XLK	Technology Select Sector SPDR	1,795 (+99.9%)	$0 (+2.0%)	0.1%	$0.18	—	SPDR TR TECH	81369Y803

Exited Positions (1)

SBUX Starbucks Corp 0.1%

Value ($000) $0 Shares 2,991 Est. Cost $52.84 Unrealized +59.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SBUX	Starbucks Corp	2,991	$0	0.1%	$52.84	+59.1%	—	855244109

Decreased Positions (19)

GOOGL Alphabet Inc 6.2%

Value ($000) $26 (+21.5%) Shares 84,180 (-5.6%) Est. Cost $107.01 Unrealized +166.9%

SHY iShares 1-3 Year Treasury Bond ETF 0.1%

Value ($000) $1 (-89.8%) Shares 6,323 (-89.8%) Est. Cost $21.73 Unrealized —

OMFL Invesco Russell 1000 Dynamic Mltfct ETF 0.1%

Value ($000) $0 (-89.8%) Shares 4,646 (-89.9%) Est. Cost $0.05 Unrealized —

MPC Marathon Petroleum Corp 1.9%

Value ($000) $8 (-19.7%) Shares 49,161 (-4.9%) Est. Cost $32.43 Unrealized +474.7%

MSFT Microsoft Corp 3.0%

Value ($000) $13 (-9.0%) Shares 26,161 (-2.6%) Est. Cost $32.76 Unrealized +1427.8%

BRK/B Berkshire Hathaway Inc 8.2%

Value ($000) $35 (-2.5%) Shares 69,275 (-2.4%) Est. Cost $113.92 Unrealized +336.8%

LH Laboratory Corp of America Hol 1.1%

Value ($000) $5 (-13.5%) Shares 18,380 (-1.0%) Est. Cost $199.78 Unrealized +32.7%

MS Morgan Stanley 2.1%

Value ($000) $9 (+8.2%) Shares 51,335 (-3.1%) Est. Cost $22.69 Unrealized +633.7%

PYPL Paypal Holdings Inco 0.6%

Value ($000) $3 (-17.9%) Shares 43,912 (-5.7%) Est. Cost $96.39 Unrealized -32.7%

VZ Verizon Communications Inc 0.9%

Value ($000) $4 (-12.3%) Shares 94,246 (-5.4%) Est. Cost $39.48 Unrealized +2.5%

PAYX Paychex Inc 0.6%

Value ($000) $3 (-15.4%) Shares 23,632 (-4.4%) Est. Cost $118.10 Unrealized -1.3%

HON Honeywell International 0.8%

Value ($000) $3 (-9.6%) Shares 17,872 (-2.5%) Est. Cost $186.20 Unrealized +4.7%

CVX Chevron Corp 1.4%

Value ($000) $6 (-4.7%) Shares 38,878 (-2.9%) Est. Cost $87.41 Unrealized +73.2%

JPM JPMorgan Chase & Co 2.3%

Value ($000) $10 (-2.9%) Shares 30,187 (-4.9%) Est. Cost $47.49 Unrealized +551.7%

FIW First Trust Water ETF 1.2%

Value ($000) $5 (-4.5%) Shares 47,202 (-1.2%) Est. Cost $22.19 Unrealized —

ADP Automatic Data Processing Inc 0.1%

Value ($000) $1 (-15.8%) Shares 2,108 (-3.9%) Est. Cost $45.09 Unrealized +487.4%

TSLA Tesla Inc 0.1%

Value ($000) $0 (-18.8%) Shares 711 (-19.8%) Est. Cost $225.99 Unrealized +96.2%

V Visa Inc 0.0%

Value ($000) $0 (-12.5%) Shares 579 (-14.7%) Est. Cost $298.33 Unrealized +14.1%

SCHB Schwab US Broad Market ETF 0.1%

Value ($000) $0 (-4.8%) Shares 8,221 (-6.8%) Est. Cost $19.21 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	Alphabet Inc	84,180 (-5.6%)	$26 (+21.5%)	6.2%	$107.01	+166.9%	STK CL A	02079K305
SHY	iShares 1-3 Year Treasury Bond ETF	6,323 (-89.8%)	$1 (-89.8%)	0.1%	$21.73	—	TR 1 3 YR TREAS BD	464287457
OMFL	Invesco Russell 1000 Dynamic Mltfct ETF	4,646 (-89.9%)	$0 (-89.8%)	0.1%	$0.05	—	RUSL 1000 DYNM	46138J619
MPC	Marathon Petroleum Corp	49,161 (-4.9%)	$8 (-19.7%)	1.9%	$32.43	+474.7%	COM	56585A102
MSFT	Microsoft Corp	26,161 (-2.6%)	$13 (-9.0%)	3.0%	$32.76	+1427.8%	COM	594918104
BRK/B	Berkshire Hathaway Inc	69,275 (-2.4%)	$35 (-2.5%)	8.2%	$113.92	+336.8%	CL B	084670702
LH	Laboratory Corp of America Hol	18,380 (-1.0%)	$5 (-13.5%)	1.1%	$199.78	+32.7%	COM	504922105
MS	Morgan Stanley	51,335 (-3.1%)	$9 (+8.2%)	2.1%	$22.69	+633.7%	COM	617446448
PYPL	Paypal Holdings Inco	43,912 (-5.7%)	$3 (-17.9%)	0.6%	$96.39	-32.7%	COM	70450Y103
VZ	Verizon Communications Inc	94,246 (-5.4%)	$4 (-12.3%)	0.9%	$39.48	+2.5%	COM	92343V104
PAYX	Paychex Inc	23,632 (-4.4%)	$3 (-15.4%)	0.6%	$118.10	-1.3%	COM	704326107
HON	Honeywell International	17,872 (-2.5%)	$3 (-9.6%)	0.8%	$186.20	+4.7%	COM	438516106
CVX	Chevron Corp	38,878 (-2.9%)	$6 (-4.7%)	1.4%	$87.41	+73.2%	COM	166764100
JPM	JPMorgan Chase & Co	30,187 (-4.9%)	$10 (-2.9%)	2.3%	$47.49	+551.7%	COM	46625H100
FIW	First Trust Water ETF	47,202 (-1.2%)	$5 (-4.5%)	1.2%	$22.19	—	FD WTR ETF	33733B100
ADP	Automatic Data Processing Inc	2,108 (-3.9%)	$1 (-15.8%)	0.1%	$45.09	+487.4%	COM	053015103
TSLA	Tesla Inc	711 (-19.8%)	$0 (-18.8%)	0.1%	$225.99	+96.2%	COM	88160R101
V	Visa Inc	579 (-14.7%)	$0 (-12.5%)	0.0%	$298.33	+14.1%	COM	92826C839
SCHB	Schwab US Broad Market ETF	8,221 (-6.8%)	$0 (-4.8%)	0.1%	$19.21	—	COM	808524102

Unchanged Positions (30)

SFM Sprouts Farmers Market Inc 1.4%

Value ($000) $6 Shares 77,149 Est. Cost $22.96 Unrealized +290.9%

GDX VanEck Vectors Gold Miners ETF 3.2%

Value ($000) $13 Shares 156,287 Est. Cost $22.43 Unrealized —

META Meta Platforms Inc Class A 2.5%

Value ($000) $10 Shares 15,799 Est. Cost $192.27 Unrealized +247.1%

AAPL Apple Inc 2.7%

Value ($000) $11 Shares 41,676 Est. Cost $92.75 Unrealized +189.3%

GSIE Goldman Sachs ActiveBeta Inter 3.8%

Value ($000) $16 Shares 373,145 Est. Cost $24.66 Unrealized —

FNDX Schwab Fundamental U.S. Large 3.8%

Value ($000) $16 Shares 589,684 Est. Cost $11.15 Unrealized —

HDEF Xtrackers MSCI EAFE High Div Yld Eq ETF 1.8%

Value ($000) $8 Shares 252,875 Est. Cost $0.02 Unrealized —

NEE NextEra Energy Inc 1.3%

Value ($000) $5 Shares 68,458 Est. Cost $68.24 Unrealized +20.9%

AMZN Amazon.com Inc 2.0%

Value ($000) $8 Shares 36,502 Est. Cost $124.85 Unrealized +83.3%

QQQ Invesco QQQ Trust 1.8%

Value ($000) $8 Shares 12,590 Est. Cost $0.36 Unrealized —

SCHV Schwab U.S. Large-Cap Value ET 2.3%

Value ($000) $10 Shares 328,528 Est. Cost $16.74 Unrealized —

CNI Canadian National Railway Co 1.2%

Value ($000) $5 Shares 52,334 Est. Cost $82.99 Unrealized +15.8%

JUST Goldman Sachs Etf Tr Just Us Lrg Cp 2.3%

Value ($000) $10 Shares 101,624 Est. Cost $37.21 Unrealized —

IJK Ishares S&P Midcap Growth 2.3%

Value ($000) $10 Shares 100,983 Est. Cost $0.09 Unrealized —

IJR iShares Core S&P Small-Cap ETF 1.7%

Value ($000) $7 Shares 61,788 Est. Cost $77.92 Unrealized —

DGRW WisdomTree U.S. Quality Divide 1.5%

Value ($000) $6 Shares 71,846 Est. Cost $13.80 Unrealized —

MRSH Marsh & McLennan Companies 0.1%

Value ($000) $1 Shares 3,093 Est. Cost $200.17 Unrealized -6.9%

SCHF Schwab International Equity ET 0.4%

Value ($000) $2 Shares 62,775 Est. Cost $28.24 Unrealized —

USMV iShares Edge MSCI Min Vol USA 2.9%

Value ($000) $12 Shares 130,874 Est. Cost $57.81 Unrealized —

JNJ Johnson & Johnson 0.1%

Value ($000) $0 Shares 1,770 Est. Cost $79.38 Unrealized +148.2%

ILCG iShares Morningstar Large-Cap Growth ETF 1.7%

Value ($000) $7 Shares 68,396 Est. Cost $20.94 Unrealized —

F Ford Motor Co 0.1%

Value ($000) $0 Shares 25,876 Est. Cost $7.43 Unrealized +72.6%

RODM Hartford Multifactor Dev Mkts (exUS) ETF 0.2%

Value ($000) $1 Shares 18,081 Est. Cost $25.89 Unrealized —

DTE DTE Energy Co 0.1%

Value ($000) $0 Shares 1,683 Est. Cost $123.63 Unrealized +9.0%

EPD Enterprise Products Partners L 0.2%

Value ($000) $1 Shares 23,080 Est. Cost $14.94 Unrealized —

SYK Stryker Corp 0.1%

Value ($000) $0 Shares 660 Est. Cost $274.84 Unrealized +32.2%

NVDA NVIDIA Corp 1.2%

Value ($000) $5 Shares 26,175 Est. Cost $125.82 Unrealized +47.9%

GIGB Goldman Sachs Acss Invmt Grd Corp Bd ETF 2.0%

Value ($000) $9 Shares 186,351 Est. Cost $11.96 Unrealized —

EFG iShares MSCI EAFE Growth ETF 1.5%

Value ($000) $6 Shares 55,777 Est. Cost $0.10 Unrealized —

ABBV AbbVie Inc 0.1%

Value ($000) $0 Shares 1,529 Est. Cost $104.14 Unrealized +118.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SFM	Sprouts Farmers Market Inc	77,149	$6	1.4%	$22.96	+290.9%	COM	85208M102
GDX	VanEck Vectors Gold Miners ETF	156,287	$13	3.2%	$22.43	—	GOLD MINER ETF	92189F106
META	Meta Platforms Inc Class A	15,799	$10	2.5%	$192.27	+247.1%	CL A	30303M102
AAPL	Apple Inc	41,676	$11	2.7%	$92.75	+189.3%	COM	037833100
GSIE	Goldman Sachs ActiveBeta Inter	373,145	$16	3.8%	$24.66	—	ACTIVEBETA INT	381430107
FNDX	Schwab Fundamental U.S. Large	589,684	$16	3.8%	$11.15	—	FDT US LG	808524771
HDEF	Xtrackers MSCI EAFE High Div Yld Eq ETF	252,875	$8	1.8%	$0.02	—	MSCI EAFE	233051630
NEE	NextEra Energy Inc	68,458	$5	1.3%	$68.24	+20.9%	COM	65339F101
AMZN	Amazon.com Inc	36,502	$8	2.0%	$124.85	+83.3%	COM	023135106
QQQ	Invesco QQQ Trust	12,590	$8	1.8%	$0.36	—	QQQ TR UNIT SER 1	46090E103
SCHV	Schwab U.S. Large-Cap Value ET	328,528	$10	2.3%	$16.74	—	US LCAP VA ETF	808524409
CNI	Canadian National Railway Co	52,334	$5	1.2%	$82.99	+15.8%	COM	136375102
JUST	Goldman Sachs Etf Tr Just Us Lrg Cp	101,624	$10	2.3%	$37.21	—	US LRG CP	381430396
IJK	Ishares S&P Midcap Growth	100,983	$10	2.3%	$0.09	—	S&P MC 400GR ETF	464287606
IJR	iShares Core S&P Small-Cap ETF	61,788	$7	1.7%	$77.92	—	ETF TR EQUITY	464287804
DGRW	WisdomTree U.S. Quality Divide	71,846	$6	1.5%	$13.80	—	US QTLY DIV GRT	97717X669
MRSH	Marsh & McLennan Companies	3,093	$1	0.1%	$200.17	-6.9%	COM	571748102
SCHF	Schwab International Equity ET	62,775	$2	0.4%	$28.24	—	INTL EQTY ETF	808524805
USMV	iShares Edge MSCI Min Vol USA	130,874	$12	2.9%	$57.81	—	MSCI MIN VOL ETF	46429B697
JNJ	Johnson & Johnson	1,770	$0	0.1%	$79.38	+148.2%	COM	478160104
ILCG	iShares Morningstar Large-Cap Growth ETF	68,396	$7	1.7%	$20.94	—	TR GRWT	464287119
F	Ford Motor Co	25,876	$0	0.1%	$7.43	+72.6%	COM	345370860
RODM	Hartford Multifactor Dev Mkts (exUS) ETF	18,081	$1	0.2%	$25.89	—	INTL EQTY ETF	518416102
DTE	DTE Energy Co	1,683	$0	0.1%	$123.63	+9.0%	COM	233331107
EPD	Enterprise Products Partners L	23,080	$1	0.2%	$14.94	—	COM	293792107
SYK	Stryker Corp	660	$0	0.1%	$274.84	+32.2%	ETF TR SPDR Mid	863667101
NVDA	NVIDIA Corp	26,175	$5	1.2%	$125.82	+47.9%	COM	67066G104
GIGB	Goldman Sachs Acss Invmt Grd Corp Bd ETF	186,351	$9	2.0%	$11.96	—	ACCESS INVT GR	381430479
EFG	iShares MSCI EAFE Growth ETF	55,777	$6	1.5%	$0.10	—	EAFE GRWTH ETF	464288885
ABBV	AbbVie Inc	1,529	$0	0.1%	$104.14	+118.5%	US BRD MKT ETF	00287Y109