SFI Advisors, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VOO	VANGUARD INDEX FDS	911	$571	0.4%	$627.03	—	S&P 500 ETF SHS	922908363
VWO	VANGUARD INTL EQUITY INDEX F	5,845	$314	0.2%	$53.76	—	FTSE EMR MKT ETF	922042858
VEA	VANGUARD TAX-MANAGED FDS	4,919	$307	0.2%	$62.47	—	VAN FTSE DEV MKT	921943858
INFL	LISTED FDS TR	6,359	$283	0.2%	$44.46	—	HORIZON KINETICS	53656F623
GLD	SPDR GOLD TR	584	$231	0.1%	$396.31	—	GOLD SHS	78463V107
IDV	ISHARES TR	5,240	$207	0.1%	$39.45	—	INTL SEL DIV ETF	464288448
CVX	CHEVRON CORP NEW	1,338	$204	0.1%	$151.40	0.0%	COM	166764100

Increased Positions (5)

BIL SPDR SERIES TRUST 5.7%

Value ($000) $8,946 (+17.3%) Shares 97,902 (+17.7%) Est. Cost $91.68 Unrealized —

QQQ INVESCO QQQ TR 0.6%

Value ($000) $886 (+24.2%) Shares 1,442 (+21.4%) Est. Cost $602.80 Unrealized —

NFLX NETFLIX INC 0.4%

Value ($000) $577 (-21.8%) Shares 6,150 (+900.0%) Est. Cost $99.25 Unrealized +8.6%

OMFL INVESCO EXCH TRD SLF IDX FD 0.3%

Value ($000) $495 (+11.4%) Shares 8,104 (+9.8%) Est. Cost $58.66 Unrealized —

VBK VANGUARD INDEX FDS 0.3%

Value ($000) $418 (+9.2%) Shares 1,382 (+7.5%) Est. Cost $251.86 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BIL	SPDR SERIES TRUST	97,902 (+17.7%)	$8,946 (+17.3%)	5.7%	$91.68	—	STATE STREET SPD	78468R663
QQQ	INVESCO QQQ TR	1,442 (+21.4%)	$886 (+24.2%)	0.6%	$602.80	—	UNIT SER 1	46090E103
NFLX	NETFLIX INC	6,150 (+900.0%)	$577 (-21.8%)	0.4%	$99.25	+8.6%	COM	64110L106
OMFL	INVESCO EXCH TRD SLF IDX FD	8,104 (+9.8%)	$495 (+11.4%)	0.3%	$58.66	—	RUSL 1000 DYNM	46138J619
VBK	VANGUARD INDEX FDS	1,382 (+7.5%)	$418 (+9.2%)	0.3%	$251.86	—	SML CP GRW ETF	922908595

Exited Positions (3)

IWMW ISHARES TR 0.3%

Value ($000) $452 Shares 11,074 Est. Cost $40.60 Unrealized —

META META PLATFORMS INC 0.1%

Value ($000) $218 Shares 297 Est. Cost $616.61 Unrealized +8.2%

GDX VANECK ETF TRUST 0.1%

Value ($000) $213 Shares 2,784 Est. Cost $76.40 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWMW	ISHARES TR	11,074	$452	0.3%	$40.60	—	—	46438G695
META	META PLATFORMS INC	297	$218	0.1%	$616.61	+8.2%	—	30303M102
GDX	VANECK ETF TRUST	2,784	$213	0.1%	$76.40	—	—	92189F106

Decreased Positions (35)

IYK ISHARES TR 2.0%

Value ($000) $3,060 (-27.4%) Shares 45,732 (-25.8%) Est. Cost $88.41 Unrealized —

IGV ISHARES TR 3.9%

Value ($000) $6,122 (-10.0%) Shares 57,924 (-2.1%) Est. Cost $139.62 Unrealized —

IBUY AMPLIFY ETF TR 2.8%

Value ($000) $4,412 (-12.9%) Shares 59,271 (-10.8%) Est. Cost $63.03 Unrealized —

FTXN FIRST TR EXCHANGE TRADED FD 1.2%

Value ($000) $1,912 (-24.2%) Shares 68,496 (-22.8%) Est. Cost $26.96 Unrealized —

IPO RENAISSANCE CAP GREENWICH FD 1.6%

Value ($000) $2,470 (-18.1%) Shares 54,098 (-11.0%) Est. Cost $36.65 Unrealized —

SMH VANECK ETF TRUST 3.6%

Value ($000) $5,564 (+9.1%) Shares 15,450 (-1.1%) Est. Cost $262.47 Unrealized —

XTL SPDR SERIES TRUST 4.8%

Value ($000) $7,521 (+5.9%) Shares 49,088 (-3.3%) Est. Cost $80.17 Unrealized —

PTH INVESCO EXCHANGE TRADED FD T 2.7%

Value ($000) $4,271 (+10.7%) Shares 85,941 (-1.8%) Est. Cost $43.03 Unrealized —

FDN FIRST TR EXCHANGE-TRADED FD 3.8%

Value ($000) $5,866 (-5.7%) Shares 21,792 (-1.9%) Est. Cost $135.53 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 0.3%

Value ($000) $422 (-45.1%) Shares 8,493 (-28.1%) Est. Cost $65.00 Unrealized —

IAU ISHARES GOLD TR 0.1%

Value ($000) $204 (-62.7%) Shares 2,518 (-66.6%) Est. Cost $72.77 Unrealized —

— EATON VANCE MUN BD FD 0.1%

Value ($000) $150 (-69.3%) Shares 15,382 (-68.7%) Est. Cost $9.97 Unrealized —

AIS TIDAL TRUST III 3.7%

Value ($000) $5,829 (+4.1%) Shares 154,342 (-3.2%) Est. Cost $21.54 Unrealized —

MLPA GLOBAL X FDS 0.2%

Value ($000) $372 (-36.3%) Shares 7,684 (-36.3%) Est. Cost $49.57 Unrealized —

FDIS FIDELITY COVINGTON TRUST 3.1%

Value ($000) $4,898 (-3.1%) Shares 47,947 (-2.5%) Est. Cost $61.05 Unrealized —

FIW FIRST TR EXCHANGE-TRADED FD 0.8%

Value ($000) $1,181 (-9.7%) Shares 10,867 (-6.6%) Est. Cost $101.68 Unrealized —

FPXI FIRST TR EXCHANGE TRADED FD 2.7%

Value ($000) $4,151 (-2.5%) Shares 70,186 (-1.2%) Est. Cost $44.56 Unrealized —

XSMO INVESCO EXCHANGE TRADED FD T 1.2%

Value ($000) $1,858 (-5.3%) Shares 25,798 (-3.2%) Est. Cost $64.16 Unrealized —

XSD SPDR SERIES TRUST 0.7%

Value ($000) $1,065 (-7.4%) Shares 3,312 (-8.2%) Est. Cost $163.77 Unrealized —

JETS ETF SER SOLUTIONS 0.2%

Value ($000) $342 (-19.9%) Shares 12,172 (-29.7%) Est. Cost $22.13 Unrealized —

WCLD WISDOMTREE TR 0.3%

Value ($000) $392 (-17.4%) Shares 11,199 (-17.0%) Est. Cost $43.58 Unrealized —

AIQ GLOBAL X FDS 0.7%

Value ($000) $1,136 (-6.2%) Shares 22,341 (-8.9%) Est. Cost $37.64 Unrealized —

FXH FIRST TR EXCHANGE TRADED FD 2.4%

Value ($000) $3,684 (+1.9%) Shares 32,367 (-1.8%) Est. Cost $103.60 Unrealized —

COWZ PACER FDS TR 1.8%

Value ($000) $2,867 (-2.1%) Shares 47,651 (-6.5%) Est. Cost $47.19 Unrealized —

IWC ISHARES TR 0.8%

Value ($000) $1,250 (-4.2%) Shares 7,924 (-9.5%) Est. Cost $124.18 Unrealized —

FCLD FIDELITY COVINGTON TRUST 3.3%

Value ($000) $5,106 (-1.0%) Shares 171,827 (-2.7%) Est. Cost $19.11 Unrealized —

FDT FIRST TR EXCH TRD ALPHDX FD 0.8%

Value ($000) $1,240 (+4.0%) Shares 15,605 (-1.3%) Est. Cost $61.59 Unrealized —

PAVE GLOBAL X FDS 2.0%

Value ($000) $3,061 (-0.9%) Shares 64,060 (-1.3%) Est. Cost $38.11 Unrealized —

AIA ISHARES TR 2.6%

Value ($000) $4,016 (+0.6%) Shares 41,184 (-2.4%) Est. Cost $66.05 Unrealized —

IAI ISHARES TR 4.5%

Value ($000) $7,062 (+0.3%) Shares 39,371 (-1.1%) Est. Cost $113.02 Unrealized —

FXO FIRST TR EXCHANGE TRADED FD 4.4%

Value ($000) $6,881 (-0.2%) Shares 114,026 (-1.8%) Est. Cost $39.97 Unrealized —

SIMS SPDR SERIES TRUST 0.3%

Value ($000) $518 (-3.0%) Shares 12,342 (-1.9%) Est. Cost $39.00 Unrealized —

EFAD PROSHARES TR 0.3%

Value ($000) $466 (-2.1%) Shares 11,167 (-1.0%) Est. Cost $41.24 Unrealized —

EWW ISHARES INC 0.6%

Value ($000) $1,004 (-0.8%) Shares 14,485 (-2.4%) Est. Cost $56.33 Unrealized —

XSOE WISDOMTREE TR 0.6%

Value ($000) $913 (-0.3%) Shares 23,391 (-3.1%) Est. Cost $36.17 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IYK	ISHARES TR	45,732 (-25.8%)	$3,060 (-27.4%)	2.0%	$88.41	—	US CONSM STAPLES	464287812
IGV	ISHARES TR	57,924 (-2.1%)	$6,122 (-10.0%)	3.9%	$139.62	—	EXPANDED TECH	464287515
IBUY	AMPLIFY ETF TR	59,271 (-10.8%)	$4,412 (-12.9%)	2.8%	$63.03	—	ONLIN RETL ETF	032108102
FTXN	FIRST TR EXCHANGE TRADED FD	68,496 (-22.8%)	$1,912 (-24.2%)	1.2%	$26.96	—	NASDQ OIL GAS	33738R845
IPO	RENAISSANCE CAP GREENWICH FD	54,098 (-11.0%)	$2,470 (-18.1%)	1.6%	$36.65	—	IPO ETF	759937204
SMH	VANECK ETF TRUST	15,450 (-1.1%)	$5,564 (+9.1%)	3.6%	$262.47	—	SEMICONDUCTR ETF	92189F676
XTL	SPDR SERIES TRUST	49,088 (-3.3%)	$7,521 (+5.9%)	4.8%	$80.17	—	STATE STREET SPD	78464A540
PTH	INVESCO EXCHANGE TRADED FD T	85,941 (-1.8%)	$4,271 (+10.7%)	2.7%	$43.03	—	DORSEY WRIGHT HE	46137V852
FDN	FIRST TR EXCHANGE-TRADED FD	21,792 (-1.9%)	$5,866 (-5.7%)	3.8%	$135.53	—	DJ INTERNT IDX	33733E302
IBIT	ISHARES BITCOIN TRUST ETF	8,493 (-28.1%)	$422 (-45.1%)	0.3%	$65.00	—	SHS BEN INT	46438F101
IAU	ISHARES GOLD TR	2,518 (-66.6%)	$204 (-62.7%)	0.1%	$72.77	—	ISHARES NEW	464285204
—	EATON VANCE MUN BD FD	15,382 (-68.7%)	$150 (-69.3%)	0.1%	$9.97	—	COM	27827X101
AIS	TIDAL TRUST III	154,342 (-3.2%)	$5,829 (+4.1%)	3.7%	$21.54	—	VISTASHARES ARTI	45259A845
MLPA	GLOBAL X FDS	7,684 (-36.3%)	$372 (-36.3%)	0.2%	$49.57	—	GLBL X MLP ETF	37954Y343
FDIS	FIDELITY COVINGTON TRUST	47,947 (-2.5%)	$4,898 (-3.1%)	3.1%	$61.05	—	MSCI CONSM DIS	316092204
FIW	FIRST TR EXCHANGE-TRADED FD	10,867 (-6.6%)	$1,181 (-9.7%)	0.8%	$101.68	—	WTR ETF	33733B100
FPXI	FIRST TR EXCHANGE TRADED FD	70,186 (-1.2%)	$4,151 (-2.5%)	2.7%	$44.56	—	INTL EQUITY OPP	33734X853
XSMO	INVESCO EXCHANGE TRADED FD T	25,798 (-3.2%)	$1,858 (-5.3%)	1.2%	$64.16	—	S&P SMLCP MOMENT	46137V498
XSD	SPDR SERIES TRUST	3,312 (-8.2%)	$1,065 (-7.4%)	0.7%	$163.77	—	STATE STREET SPD	78464A862
JETS	ETF SER SOLUTIONS	12,172 (-29.7%)	$342 (-19.9%)	0.2%	$22.13	—	US GLB JETS	26922A842
WCLD	WISDOMTREE TR	11,199 (-17.0%)	$392 (-17.4%)	0.3%	$43.58	—	CLOUD COMPUTNG	97717Y691
AIQ	GLOBAL X FDS	22,341 (-8.9%)	$1,136 (-6.2%)	0.7%	$37.64	—	ARTIFICIAL ETF	37954Y632
FXH	FIRST TR EXCHANGE TRADED FD	32,367 (-1.8%)	$3,684 (+1.9%)	2.4%	$103.60	—	HLTH CARE ALPH	33734X143
COWZ	PACER FDS TR	47,651 (-6.5%)	$2,867 (-2.1%)	1.8%	$47.19	—	US CASH COWS 100	69374H881
IWC	ISHARES TR	7,924 (-9.5%)	$1,250 (-4.2%)	0.8%	$124.18	—	MICRO-CAP ETF	464288869
FCLD	FIDELITY COVINGTON TRUST	171,827 (-2.7%)	$5,106 (-1.0%)	3.3%	$19.11	—	CLOUD COMPUTNG	316092246
FDT	FIRST TR EXCH TRD ALPHDX FD	15,605 (-1.3%)	$1,240 (+4.0%)	0.8%	$61.59	—	DEV MRK EX US	33737J174
PAVE	GLOBAL X FDS	64,060 (-1.3%)	$3,061 (-0.9%)	2.0%	$38.11	—	US INFR DEV ETF	37954Y673
AIA	ISHARES TR	41,184 (-2.4%)	$4,016 (+0.6%)	2.6%	$66.05	—	ASIA 50 ETF	464288430
IAI	ISHARES TR	39,371 (-1.1%)	$7,062 (+0.3%)	4.5%	$113.02	—	US BR DEL SE ETF	464288794
FXO	FIRST TR EXCHANGE TRADED FD	114,026 (-1.8%)	$6,881 (-0.2%)	4.4%	$39.97	—	FINLS ALPHADEX	33734X135
SIMS	SPDR SERIES TRUST	12,342 (-1.9%)	$518 (-3.0%)	0.3%	$39.00	—	STATE STREET SPD	78468R697
EFAD	PROSHARES TR	11,167 (-1.0%)	$466 (-2.1%)	0.3%	$41.24	—	MSCI EAFE DIVD	74347B839
EWW	ISHARES INC	14,485 (-2.4%)	$1,004 (-0.8%)	0.6%	$56.33	—	MSCI MEXICO ETF	464286822
XSOE	WISDOMTREE TR	23,391 (-3.1%)	$913 (-0.3%)	0.6%	$36.17	—	EM EX ST-OWNED	97717X578

Unchanged Positions (19)

FBT FIRST TR EXCHANGE-TRADED FD 3.0%

Value ($000) $4,751 Shares 23,006 Est. Cost $154.23 Unrealized —

AAPL APPLE INC 4.8%

Value ($000) $7,458 Shares 27,432 Est. Cost $154.71 Unrealized +73.5%

CIBR FIRST TR EXCHANGE TRADED FD 3.8%

Value ($000) $5,989 Shares 83,826 Est. Cost $49.37 Unrealized —

CCEL CRYO-CELL INTL INC 0.4%

Value ($000) $569 Shares 165,300 Est. Cost $10.00 Unrealized -58.5%

IVE ISHARES TR 4.1%

Value ($000) $6,430 Shares 30,322 Est. Cost $190.58 Unrealized —

PSI INVESCO EXCHANGE TRADED FD T 0.7%

Value ($000) $1,029 Shares 13,048 Est. Cost $75.78 Unrealized —

IQLT ISHARES TR 2.1%

Value ($000) $3,213 Shares 70,694 Est. Cost $38.23 Unrealized —

XAR SPDR SERIES TRUST 2.9%

Value ($000) $4,452 Shares 18,455 Est. Cost $115.38 Unrealized —

— MEXICO FD INC 1.7%

Value ($000) $2,705 Shares 134,298 Est. Cost $14.16 Unrealized —

FEMS FIRST TR EXCH TRD ALPHDX FD 0.5%

Value ($000) $836 Shares 19,855 Est. Cost $42.02 Unrealized —

FCTE ETF OPPORTUNITIES TRUST 0.2%

Value ($000) $360 Shares 14,453 Est. Cost $26.60 Unrealized —

VOD VODAFONE GROUP PLC NEW 0.1%

Value ($000) $190 Shares 14,378 Est. Cost $8.49 Unrealized —

BOXX EA SERIES TRUST 0.9%

Value ($000) $1,469 Shares 12,760 Est. Cost $113.51 Unrealized —

ILF ISHARES TR 0.1%

Value ($000) $224 Shares 7,359 Est. Cost $26.21 Unrealized —

— NUVEEN AMT-FREE MUN VALUE FD 0.3%

Value ($000) $450 Shares 31,419 Est. Cost $13.74 Unrealized —

DECU AIM ETF PRODUCTS TRUST 0.1%

Value ($000) $208 Shares 7,577 Est. Cost $26.88 Unrealized —

STIP ISHARES TR 0.2%

Value ($000) $325 Shares 3,174 Est. Cost $103.36 Unrealized —

IEI ISHARES TR 0.2%

Value ($000) $329 Shares 2,756 Est. Cost $119.51 Unrealized —

MTBA SIMPLIFY EXCHANGE TRADED FUN 0.2%

Value ($000) $290 Shares 5,754 Est. Cost $50.17 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FBT	FIRST TR EXCHANGE-TRADED FD	23,006	$4,751	3.0%	$154.23	—	NY ARCA BIOTECH	33733E203
AAPL	APPLE INC	27,432	$7,458	4.8%	$154.71	+73.5%	COM	037833100
CIBR	FIRST TR EXCHANGE TRADED FD	83,826	$5,989	3.8%	$49.37	—	NASDAQ CYB ETF	33734X846
CCEL	CRYO-CELL INTL INC	165,300	$569	0.4%	$10.00	-58.5%	COM	228895108
IVE	ISHARES TR	30,322	$6,430	4.1%	$190.58	—	S&P 500 VAL ETF	464287408
PSI	INVESCO EXCHANGE TRADED FD T	13,048	$1,029	0.7%	$75.78	—	SEMICONDUCTORS	46137V647
IQLT	ISHARES TR	70,694	$3,213	2.1%	$38.23	—	MSCI INTL QUALTY	46434V456
XAR	SPDR SERIES TRUST	18,455	$4,452	2.9%	$115.38	—	STATE STREET SPD	78464A631
—	MEXICO FD INC	134,298	$2,705	1.7%	$14.16	—	COM	592835102
FEMS	FIRST TR EXCH TRD ALPHDX FD	19,855	$836	0.5%	$42.02	—	EM SML CP ALPH	33737J307
FCTE	ETF OPPORTUNITIES TRUST	14,453	$360	0.2%	$26.60	—	SMI 3FOURTEEN FU	26923N512
VOD	VODAFONE GROUP PLC NEW	14,378	$190	0.1%	$8.49	—	SPONSORED ADR	92857W308
BOXX	EA SERIES TRUST	12,760	$1,469	0.9%	$113.51	—	ALPHA ARCH 1-3	02072L565
ILF	ISHARES TR	7,359	$224	0.1%	$26.21	—	LATN AMER 40 ETF	464287390
—	NUVEEN AMT-FREE MUN VALUE FD	31,419	$450	0.3%	$13.74	—	COM	670695105
DECU	AIM ETF PRODUCTS TRUST	7,577	$208	0.1%	$26.88	—	ALLIANZIM US EQU	00888H521
STIP	ISHARES TR	3,174	$325	0.2%	$103.36	—	0-5 YR TIPS ETF	46429B747
IEI	ISHARES TR	2,756	$329	0.2%	$119.51	—	3 7 YR TREAS BD	464288661
MTBA	SIMPLIFY EXCHANGE TRADED FUN	5,754	$290	0.2%	$50.17	—	MBS ETF	82889N525