Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JNK	SPDR Series Trust	133,948	$12.91M	9.4%	$96.37	—	State Street SPD	78468R622
EMB	iShares Tr	107,630	$10.38M	7.6%	$96.44	—	JPMorgan USD Emg	464288281
AGG	iShares Tr	97,734	$9.674M	7.1%	$98.98	—	CoreUS Aggbd ETF	464287226
VCIT	Vanguard Scottsdale Fds	107,991	$8.925M	6.5%	$82.65	—	Int Term Corp	92206C870
SJNK	SPDR Series Trust	327,284	$8.192M	6.0%	$25.03	—	State Street SPD	78468R408
LQD	iShares Tr	70,837	$7.726M	5.6%	$109.07	—	iBOXX Inv CP ETF	464287242
BND	Vanguard BD Index FDS	98,773	$7.251M	5.3%	$73.41	—	Total Bnd Mrkt	921937835
IEF	iShares Tr	57,629	$5.45M	4.0%	$94.57	—	7-10 Yr Trsy BD	464287440
TIP	iShares Tr	43,981	$4.813M	3.5%	$109.43	—	TIPS Bd ETF	464287176
GOVT	iShares Tr	209,762	$4.778M	3.5%	$22.78	—	US Treas Bd ETF	46429B267
BNDX	Vanguard Charlotte FDS	80,875	$3.917M	2.9%	$48.43	—	Total Int Bd ETF	92203J407
MUB	iShares Tr	32,536	$3.502M	2.6%	$107.62	—	National Mun ETF	464288414
IEI	iShares Tr	26,797	$3.147M	2.3%	$117.45	—	3-7 Yr Treas BD	464288661
FLOT	iShares Tr	55,850	$2.851M	2.1%	$51.05	—	Fltg Rate NT ETF	46429B655
SHYG	iShares Tr	53,901	$2.286M	1.7%	$42.41	—	0-5 Yr Hi Yl CP	46434V407
MBB	iShares Tr	22,633	$2.139M	1.6%	$94.52	—	MBS ETF	464288588
VTEB	Vanguard Mun Bd FDS	27,144	$1.373M	1.0%	$50.58	—	Tax Exempt Bd	922907746
XLU	SELECT SECTOR SPDR TR	29,409	$1.333M	1.0%	$45.34	—	ST STR UTIL ETF	81369Y886
SPAB	SPDR Series Trust	51,978	$1.326M	1.0%	$25.52	—	State Street SPD	78464A649
SCHZ	Schwab Strategic Tr	50,447	$1.167M	0.9%	$23.13	—	US Aggregate B	808524839
HYD	Vaneck ETF Trust	21,675	$1.116M	0.8%	$51.51	—	High Yld Muni ETF	92189H409
EMLC	Vaneck ETF Trust	41,850	$1.07M	0.8%	$25.56	—	JP Mrgan Em LOC	92189H300
VMBS	Vanguard Scottsdale Fds	22,709	$1.063M	0.8%	$46.81	—	Mtg Bkd Secs ETF	92206C771
TFI	SPDR Series Trust	21,553	$987K	0.7%	$45.80	—	State Street SPD	78468R721
BKLN	Invesco Exch Traded FD Tr II	43,105	$878K	0.6%	$20.37	—	Sr Ln ETF	46138G508
VCSH	Vanguard Scottsdale Fds	10,827	$856K	0.6%	$79.03	—	Shrt Trm Corp Bd	92206C409
PFF	iShares Tr	21,052	$642K	0.5%	$30.49	—	PFD and Incm SEC	464288687
PCY	Invesco Exch Traded FD Tr II	24,988	$541K	0.4%	$21.65	—	Emrng Mkt Svrg	46138E784
PFE	Pfizer Inc	22,355	$538K	0.4%	$24.08	—	Com	717081103
CSCO	Cisco Sys Inc	4,577	$538K	0.4%	$117.46	—	Com	17275R102
WMT	WALMART INC	4,680	$530K	0.4%	$113.26	—	COM	931142103
PEP	Pepsico Inc	3,905	$529K	0.4%	$135.40	—	Com	713448108
FLRN	SPDR Series Trust	16,430	$507K	0.4%	$30.85	—	State Street SPD	78468R200
PGX	Invesco Exch Traded FD Tr II	44,334	$481K	0.4%	$10.84	—	PFD ETF	46138E511
GDX	Vaneck ETF Trust	5,607	$423K	0.3%	$75.45	—	Gold Miners ETF	92189F106
GDXJ	Vaneck ETF Trust	3,855	$379K	0.3%	$98.25	—	Junior Gold Mine	92189F791
BSV	Vanguard BD Index FDS	4,683	$365K	0.3%	$77.91	—	Short Trm BD	921937827
MINT	PIMCO ETF Tr	3,381	$341K	0.2%	$100.81	—	Enhan Shrt MA AC	72201R833
SHV	iShares Tr	1,996	$220K	0.2%	$110.35	—	Trust ishare 0-1	464288679
SHY	iShares Tr	2,490	$204K	0.1%	$82.11	—	1-3 Yr Treas BD	464287457

Increased Positions (6)

HYG iShares Tr 10.0%

Value $13.76M (+750.1%) Shares 172,101 (+745.7%) Est. Cost $79.96 Unrealized —

TLT iShares Tr 2.5%

Value $3.363M (+405.1%) Shares 38,914 (+406.7%) Est. Cost $87.59 Unrealized —

ORCL ORACLE CORP 0.9%

Value $1.295M (+22.0%) Shares 8,839 (+22.5%) Est. Cost $165.37 Unrealized —

VTI VANGUARD INDEX FDS 0.6%

Value $808K (+24.5%) Shares 2,183 (+8.0%) Est. Cost $324.44 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.2%

Value $266K (+20.2%) Shares 6,294 (+42.5%) Est. Cost $43.38 Unrealized —

PG Procter and Gamble Co. 0.2%

Value $267K (+18.5%) Shares 1,823 (+16.7%) Est. Cost $157.54 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HYG	iShares Tr	172,101 (+745.7%)	$13.76M (+750.1%)	10.0%	$79.96	—	iBOXX Hi Yd ETF	464288513
TLT	iShares Tr	38,914 (+406.7%)	$3.363M (+405.1%)	2.5%	$87.59	—	20 Yr Tr BD ETF	464287432
ORCL	ORACLE CORP	8,839 (+22.5%)	$1.295M (+22.0%)	0.9%	$165.37	—	COM	68389X105
VTI	VANGUARD INDEX FDS	2,183 (+8.0%)	$808K (+24.5%)	0.6%	$324.44	—	TOTAL STK MKT	922908769
VZ	VERIZON COMMUNICATIONS INC	6,294 (+42.5%)	$266K (+20.2%)	0.2%	$43.38	—	COM	92343V104
PG	Procter and Gamble Co.	1,823 (+16.7%)	$267K (+18.5%)	0.2%	$157.54	—	Com	742718109

Exited Positions (7)

UNH UNITEDHEALTH GROUP INC 0.6%

Value $771K Shares 2,849 Est. Cost $308.69 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.6%

Value $763K Shares 1,593 Est. Cost $493.47 Unrealized —

CMCSA COMCAST CORP NEW 0.6%

Value $758K Shares 26,413 Est. Cost $29.82 Unrealized —

HD Home Depot Inc 0.4%

Value $495K Shares 1,504 Est. Cost $385.49 Unrealized —

ADBE ADOBE INC 0.2%

Value $273K Shares 1,125 Est. Cost $289.87 Unrealized —

INTC Intel Corp 0.2%

Value $228K Shares 5,164 Est. Cost $37.76 Unrealized —

V VISA INC 0.2%

Value $228K Shares 753 Est. Cost $329.17 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNH	UNITEDHEALTH GROUP INC	2,849	$771K	0.6%	$308.69	—	—	91324P102
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,593	$763K	0.6%	$493.47	—	—	084670702
CMCSA	COMCAST CORP NEW	26,413	$758K	0.6%	$29.82	—	—	20030N101
HD	Home Depot Inc	1,504	$495K	0.4%	$385.49	—	—	437076102
ADBE	ADOBE INC	1,125	$273K	0.2%	$289.87	—	—	00724F101
INTC	Intel Corp	5,164	$228K	0.2%	$37.76	—	—	458140100
V	VISA INC	753	$228K	0.2%	$329.17	—	—	92826C839

Decreased Positions (4)

DIS DISNEY WALT CO 0.2%

Value $266K (-65.4%) Shares 2,768 (-65.3%) Est. Cost $109.45 Unrealized —

BA BOEING CO 0.2%

Value $268K (-47.7%) Shares 1,240 (-52.0%) Est. Cost $238.54 Unrealized —

MSFT MICROSOFT CORP 0.4%

Value $552K (-27.9%) Shares 1,481 (-28.5%) Est. Cost $434.61 Unrealized —

EEM iShares Tr 0.2%

Value $268K (-20.2%) Shares 3,918 (-33.8%) Est. Cost $54.71 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DIS	DISNEY WALT CO	2,768 (-65.3%)	$266K (-65.4%)	0.2%	$109.45	—	COM	254687106
BA	BOEING CO	1,240 (-52.0%)	$268K (-47.7%)	0.2%	$238.54	—	COM	097023105
MSFT	MICROSOFT CORP	1,481 (-28.5%)	$552K (-27.9%)	0.4%	$434.61	—	COM	594918104
EEM	iShares Tr	3,918 (-33.8%)	$268K (-20.2%)	0.2%	$54.71	—	MSCI Emg Mkt ETF	464287234

Unchanged Positions (1)

USMV ISHARES TR 0.4%

Value $482K Shares 5,000 Est. Cost $92.74 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
USMV	ISHARES TR	5,000	$482K	0.4%	$92.74	—	MSCI USA MIN ETF	46429B697